senor by Messrs. Atkinson and Mas rot" extension OF time Ccovyeen: Mr. ¢, W. Measor for applla Prienwoad' (Goa Mr. Victor, Aavoenie} "for netsinr of "Come Before Judge P. Grant Jones 'Application' Granted)
"These land transactions are very Aimeult" commented Judge P. Grant ones in the course of the hearing of fan application by Atkinson & Dallas M, Supreme Court on Jan, 28 for an extension of time in which to register a mortgage. Mr.
Moasor, for the applicants, said that the motion was under Section 85 of the Hongkong Companies' Ordinances, and proceeded to read the am™davit led by Mr. R, D. K. Silby, manager, to the effect that the date of the mortgage was December 14, 1933, the property concerned being 'B, C," Lot 5261, Cadastral Lot 3455, in' the Wesiern District.
Explaining the transnetion, Mr. 'Measor said that the applicants, who were the legal and registered owne of the property, were only inter mediacies In the' transaction, Atkinson Dallas secured a mortgage from the 1.C1. on the property, as the 1.CL. did not know the Chinese gentleman who owned it, and then handed the money over to the Chinese for a similar mortgage.
"You are asking me to extend the time to register a mortgage which In fact you had no right to make' asked Judge Grant Jones.
Mr. Measor aureed that this was s0, bhut pointed out that it was also a fact that the applicants were, at the same time, the registered owners of the properly. The neglect to register was the result of a misunderstanding, and there was no prejudice to creditors or shareholders, He quoted the ease of In Re Jackson, Vol. 1, 1090-1 CH, pages '348 and 351 in support, "I would upset that case if T could," commented Judge Grant Jones. He hund followed it tu the past, but had always protested. The Crown Advoente (Mtr, Victor Priestwood), appearing on behalf of the Registrar of Companies, said that his instructions were not to oppose the application for an extension of time, and asked for costs. This was granted, With regard (the above case, itis pointed out that there might possibly be ffome misunderstanding in regard to the third and fourth paragraphs. Actual. ly, in fact, the learned Judge was suggesting to counsel that as far as hho could see, Mestrs, Atkinson Dallas had no ownership in the pro= erty, and nat that they were mort-aging property they had no right to mortgage.
Text read from the printed page and cleaned; old type leaves the occasional error.