APPENDIX  B

405
there  appeared  to  be  the  stipulation  that  Tls.3,500  should  first
be  paid  to  the  Chinese.  There  are  various  other  matters  which
certainly  are  somewhat  complicated,  and  which  I  should  expect
to  find  reduced  to  writing.  We  have  the  version  of  it  given  by
the  plaintiff,  which  no  doubt  represents  his  own  view,  and  there
is  on  the  other  hand  a  denial  of  it  by  the  defendant,  and  I  cannot
come,  on  the  evidence  before  me,  to  the  conclusion  that  the
original  agreement  of  one-quarter  of  the  profits  was  varied  by
anything  that  took  place  on  that  occasion.  It  will  have  to  be
ascertained  what  accounts  come  under  this  exhibit  “  Q  ”—the
deed  of  January  30,  this  year,  by  which  the  Tls.25,000  was  paid.
I  think  this  includes  all  debts  due  by  the  partnership,  as  well  as
by  the  defendant,  to  the  people  who  are  enumerated  in  this
deed.  There  are,  for  instance,  the  Chinese  in  Changsha,  and  the
firms  in  Shanghai,  and  there  are  certain  others.  I  will  take
for  instance  the  sum  of  Tls.64,  which  is  a  small  sum  due  to
Messrs.  Hall  &amp;  Holtz  in  Hankow,  and  this  probably  would  not
come  under  that.  I  give  that  as  an  example,  but  I  do  not
decide  that.  This  is  a  point  which  I  shall  have  to  take  in
Chambers,  or  must  be  considered  by  whoever  takes  the  account.
I  mention  that  as  it  is  a  small  sum  and  it  does  not  matter  much
whichever  way  it  goes.  If  the  Tls.25,000  is  not  sufficient,  then
it  will  have  to  be  divided,  the  various  sums  will  have  to  be
paid,  so  far  as  I  can  see,  pro  rata,  and  if  after  that  there  are
partnership  debts—debts  between  July  4,  1904  and  June  29,
I 9°5—then,  of  course,  these  will  have  to  be  liquidated  out  of
the  Tls.5,200.  I  think  if  there  is  any  balance  on  the  Tls.25,000
—I  do  not  think  there  is  the  least  likelihood  that  there  will
be—then  the  matter  will  have  to  be  referred  to  me  again  as  to
its  division.  It  is  not  quite  clear  now,  and  I  should  like  to  hear
counsel  more  fully  as  to  what  ought  to  happen  to  any  balance
of  the  Tls.25,000.  I  think,  as  it  was  to  cover  everything,  the
plaintiff  is  entitled  to  a  certain  amount.  I  do  not  think  he  is
entitled  to  a  quarter,  but  I  think  he  is  entitled  to  any  amount
which  might  be  assessed  as  sufficient  and  proper.  I  think  that
direction  is  sufficient.  The  accounts  may  be  so  reduced  that
they  might  come  before  me  in  Chambers,  and  I  might  be  able  to
come  to  a  decision  at  less  expense  to  the  parties  and  in  a  very
short  time,  because  I  know  about  it  ;  and  if  it  is  referred  to  anybody ­
  else,  there  will  be  some  question  of  nicety  as  to  some  of
these  sums,  and  they  would  probably  have  to  be  sent  back  to  me
for  direction.  I  would  like  to  hear  counsel  further  especially
in  the  case  of  Tsau’s  debt.  I  shall  want  to  know  a  little  more
about  that,  but  so  far  as  I  can  see  this  money  which  has  been
expended  by  Mr.  Bennertz  in  purchasing  goods  for  the  trading
°f  his  company  will  have  to  be  paid  out  of  this  Tls.25,000.  If