Gudgment for Plaintit)
Judgment for the sum of $270, with "costs, was given by Jud Millon' J." Melmick in the US.
Meanwhile, Mr. Soony had come Consular Court on February 6 against around and suggested selling his de-Mr. W. K. Grove, in favour of Mr, bentures, and they arranged that Mr.
Tong "Cheng-hook. Plaintit was Soong should transfer his claims represented by Mr. Paul Premet, and against the company for advances, the defendant by Mir. Roy G, Atlman, together with the debentures, for The claim was on a promissory note shares inthe new company." Mr. signed by the defendant, and Issued Mayer accordingly advanced about favour of the United Trust So-$5,000. On May 29, in the offices of ciety, Later, afler the promissory Messrs. Teesdale, Newman & Ca,, he ote had matured, It was endorsed asked "Mr. Soong to transfer "the the company to the plaintiff, Mr. claims and debentures to him; the Tang Cheng-hook, latter refused to hand over the de-For the defence, it was alleged that bentures, and told Mr. Mayer he the plaintiff had no right to sue in wanted him to buy them, his own name as the endorsement on Eventually, Mr. K. E. Newman sug-the "note was made after it had gested that Mr. Soong transfer one~ matured, and, furthermore, that the half of the debentures, and proceed~ plaintiff' was not a holder in due ed to hold them in escrow; Mr.
Soong, however, would not transfer his claims ay all. Mr, Mayer then riving at its judgment, described subsequent meetings rela~ Judge Helmick said that although tive to the bankruptey of the old the plaintiff was not a holder in duc company, and the acceptance of his course, since he took over the protender, Mr. J. E. Turner, who had misery note after maturity, yet he been appointed liquidator at a mectwas a holder for value within the Ing. of debenture holders. in Juno, meaning of the negotiable instruments called on him 10 pay the purchase law of the Code of the District of price, but defendant refused until he Columbia. Under Section 25, Chapter had secured an official approval of 1. Tite 22, of the District of Colum-the silo from the British court. bia Code, an_accommodation maker was Hable {oa holder for value, "Needed Money" attempted defence that the defendant On June 29, Mr, Turner told nim was merely an accommodation maker needed money urgently to keep would not, therefore, avail against a the "company runing "a3" a going holder for value, even though he concern, and eventually" asked Mr. was not a holder in due course, and yer to take it over and. run tt, Judinnent would therefore be entered ending the receipt of the confirma for the plaintiff. tion from the British judge. "On July "Soong called a Traffic Cases ceded money urgently to pay his shraf's commission. "I (old him his SAO, 6 MB. GALLOP, Re WBE FAUT, laun had to be liquidated by stock
Text read from the printed page and cleaned; old type leaves the occasional error.