Mr, Meinhardt continued to say that the accountants had had the opportunity to control all the funds. Tt was no concern of the court whether the money was kept in the Chartered Bank or not; the Court did not care whether the accountants kept it in their right hand pocket or their left. There might be considerable question as to whether the figures before the court were justified, He doubted whether the court were pre red ta go into the figures in detail at that hearing, and it was possible, he said, that there would have to be a special hearing for that purpose. He remarked that there were established liquidator's fees, whick might have to be divided up between the joint-liquidators in proportion to the value of their explained that the meant that each item on their fees was accounted for.
It was for the court to allow them or refuse them as it saw fit. His object had been to apologize.for a contempt of court, where no contempt was intended, Me. Sehuht rose to suggest that the explanation he embodied in the records of the court, while Mr. Preston requested, after' the explanation and apology: had been received, that any reference to dishonesty on the part of his clients should be removed from the court records.
The Judge: There is nq reference the court records, The court then proceeded to deal with the ease before them, the question of priority of claim salary'and commission, The lawyers for. the bondholders objected strenuously to any priority of elaine, and the judge seemed inclined to think that no priority had been established. Mr. Schuhl pointed out that evidence of his client's claim had been given to the court and proceeded to question the standing of the lawyers for the bondholders, "1 understand that, according to the receiver represents all te creditors," remarked Mr, Schutt. ations which had arisen from Other tors had been appointed, Mr, Schuhl hastened to say that he had no objection to the representation of the other liquidators, After some legal argument, the ease was ad-Journed for one week, on the request of Mr. Wong, the chief liquidator. Mr. Wong suggested that some con promise could be reached before tha next heaving.
Text read from the printed page and cleaned; old type leaves the occasional error.