'The judge later stated that one thing that he had Tearned from this case' was that the company laws in China required revision.
While the bonds were earning an interest of five per cent, witness stated, Chinese 'oMicials interfered. and tried to "kill" the company, through "British diplomatic circles, and this rendered business extremely dificult. On top of this, Belgium went off the gold standard, and it was practically, impossible. to carry fon business, After witness's re-examination by Mr, Reeks, Mr, McDonald said that the company. was entirely the' offspring of Mr. Judah. "He came. with hig scheme to the defendant, who we, a well-known, and Mghly Fe, member of the Stock Exchange, and the latter decided to buy a certain number of hares, At the outset, the company had not been for the hostility of the Chinese authorities and for Bel-glum going off the gold standard all the Bonds might have been sold at. small profit, In evidence, defendant said that he was a sharebroker, a member of the Shanghai Stock Exchange. He had known, Mr, Judsh for three or four years from the business point of View. He was no relative of his, The Judge: Then why did he address you as "Uncle" in one of his Mr. McDonald: Merely a term of endearment.
"Me. Judah, stated the defendant came to see him and gave him very slowing prospects of the proposed company, inducing him to take an interest in it, He satiated himself that it wax a perfectly sound buslness, and go he consented, and Bought. some shares to the number of 48, Mr. Judah asked him to pay for his shares as well, and he agreed provided that he was pald interest. This was agreed upon. Mr. Judah lad not paid back the amount owing. to defendant. Witness denied that he was ever a director of the plaintiff company, and said he had never agreed to reduce the price at which would sell bonds to the company.
"The case was adjourned.
Text read from the printed page and cleaned; old type leaves the occasional error.