Vientsin Case Brought Before U.S. Court on Request to Reconsider Judge M.D. Purdy on Thursday heard the motion of Mr, Walter Chaluire, counsel for defendant, for 4 new trial, in the action of Li Li v, Andersen, Meyer & Ca, Mr.
D. Rodger opposed, It will be recalled that subsequent to si in Tientsin and Shanghai his Honour ruled favour of defendants for G.$16,- 5594 and—G.$5,519.47, including interest, which plaintiffs asserted was their just due from brokerage fees of two-and-a-half and one per cent., respectively, occuring from sales of machinery and spindles which they negotiated for defendants to the extent of G.$916,000.
Mr. Chalaire began his argument by stating that the only point he would touch upon in his motion was, the question of the currency in which the judgment should have been rendered. To his mind the eon tract was a silver contract, in that the Pet Yang Cotton Mill promised to pay in silver currency the gold Payments og they came duc, in other words, the commission due plaintiff was a payment in taels of the gold amount in the day's rate. The buyers paid at various stated times.
Tulle Purdy:—Have you ever thought that they should have been Paid at the time of the signing of the contract? Counsel—Their letters of agreement provide for payment as the others pay.
Honour:—Iad they been paid at the actual time of the exchange of moneys they would have received the same cither in taels or gold, went on to say that com like the defendant company" made contracts in exe change at various times to cover immediate demands and they would now have to pay out more than at that time, owing to. the change in the rate—plaintiffs should receive no more than they were entitled to at that time. Continuing, counsel went on to say that Chinese Court wore to render Judgment, wore extrality abolished, they would render in the ow the land as do Great Bri tthe United States, and at the day's of the breach of contract, wis due at the time, as I
Honowr:—If T had rendered judgment in taels, I would have had to arrive at a' financial conclusion at the rate of that time?
Chalaire:—That is what T am arguing. n reply, stated that rally' a'mnotion for a now trial, rather a reargument of an issue. He could not but econder the contract, and he felt. the Court must hold' a similar view, aac a gold contract pure and simple. Defendant company in. their letter promised to pay on. the. contract cost, which was distinctly. specified in gold dollars. "Had plaintiffs been paid three years ago, there would have been no cause for this arg ment. continuing, Afr, Rodger added, that the interest fee of the American Cart is but six per cent., whereas his clients would have to borrow or could Tend money in Tientsin high as 18 per cent, Referring to opposing counsel's argument that a Chinese Court must render judgment in silver currency, Mr. Rodger drew attention to the Miged Court, which had rendered sterling His Honour reserved his opinion.
Text read from the printed page and cleaned; old type leaves the occasional error.