Atter a perusal of the account of Mr, Wang Yeh-zai, the compradore, the defence said, the Court would find that on April 6 last year Wang hod $103,118 in his name, but on April 8 the account stood at $122,900 to his credit. Again, after Mr. M. Epport had drawn $12,000 from his deposit for safe-keeping, Wang's account was '$1567700. At the closure of the bank, the compradore was indebted to the Institution, the defence alleged.
Mr. Waiter F. Raven told the Court that any unusual transaction, fof the bank should bear the mana ger's signature. Asked what other business of the institution required the manager's signature, Mr. Raven named. the following—Approval of overdraft; Tellers relating to the: policy of the bank; expenses in cash. Payment; and payment of cheques bearing an amount over the overdraft limit, Any cash payment, be said, must be signed by the manager.
Replying to the Judge, Mr. Raven said the manager was unable to sign every current account or deposit, hundreds of these were handled' by the bank daily. The manager got reports of total amounts daily, but! these were of no use to him, and he had no knowledge of individual accounts. He did not think the manager would sign daily reports from different departments. They were prepared for information only.
Safe-keeping lems When shown a slip, a receipt for] $20000 put in by Mr. Henry Young for safe-keeping, Mr. Raven said of the department, made all the arrangements and he never saw the cash. Mr. Tsu. had worked in the bank for about fifteen years. He had furnished bonds and he institution had never found. anything wrong done by him.
'On April 8, Mr, Raven continued, 'Tsu told him' that Mr. Peter Young wanted to put $20,000 silver in safekeeping. Witness at first refused to accept the money, as the bank had never accepted sliver for safe-keeping. As the request was made with] the' special recommendation of the compradore, he finally approved. He never talked the matter over with Mr. Kieffel, He signed the receipt on the authority of Tsu.
Regarding Mr. Epport's request put $12,000 in safekeeping, Mr. Raven Said he discussed the matter with Epport, who was his friend. The lieut hod already talked over the Dusiness with Tsu and gave Tsu a cheque drawn on deposit account to} be put into safe-keeping.
'Asked by the Judge whether he should see that this amount actually was put into the vault, Mr. Raven id there were eight departments under him and it was physically impossible {0 supervise everything. He' presumed Tsu hed done his duty. The auditors checked the contents of the vault twice yearly and he also made two inspections in a year. He} had made no inspection between Jan-vary and May last year, The first information regarding the transfer of deposits for sate-keeping to tke "call deposit" account came to him after' the closure of the bank.
Text read from the printed page and cleaned; old type leaves the occasional error.