THE WATERLOW CASE.

Press, Volume LXVII, Issue 20173, 27 February 1931, Page 15

THE WATERLOW CASE.

K \l Mx f y*»yr ' * ; BANft Otf PdKTUGA^S ' ' - ' >\pLAi[k.Jj:7 ;^.,v 1 , I, --■■ - -f * *- > V jf,|f\ TO PAY 5589,421. 1 , waosc om» «w* coawfs/oKJHSjrr,) LONDON, »%Uilry 15." The action in Which tin Satfpo 4« Portugal was awarded-damages against Messrs Waterlcjw \6ons,* '(Jredt Winchester'street, E.C., for breach of, contract and negligencein caimexijjn with the- cirfculation' 'of certain Portuguese bank notes, was again before the Court this Week" f - j; Mr Justice Wright had f6u»4 that the,, bank was entitled to £631,851 damages, l but Mr Norman Birkett liiaintained that 1 Messrs Waterlow were entitled to certain allowances, and it vsyis on the ques-* tion* of the amount of damages that the matter now came before" 1 jbisVLord-' ship. 1 " ' ' Mr Stuart Bevan pointed •. out\ that, the whole a&ount of th,c claim 1 wis £1,100,281, and the figure of £631,851 was arrived at bydeduqting which had been recovered bytho ißanco de Portugal from the liquidation'of tie. conspirators' assets, and a further sum of £BO,OOO In respect of the failure to minimise the damages. - In Mr Sevan's yubhussion, if 3130,000 were Allowed toWaterlow and Sons, Md v Only £408,430 should Ue allowed them in. wjpect of the liquidation «f , , -- <V? , ) ' U - , - ?„/

■■■■» I I' ■ , H "'V» the conspttatttts.'.aßßpt^">lift'lrftjqjWKsf'; the Banco £BO,OOO, WatcrlosrfWLd |SS ttndor no- liability. • 4 s Mr Socman Birket&'iaainttiaftd ttaft Messrs whole of been held that Hank'' eonli'injttf ipfcf cover that auto. aofiOtiafe^of * fault. In fonvortiug_thß sums alhnroA to MeßWs Watatiovr oacudoß into the zajte, of- '.to* 1 c bruise should bo tfurt at the tfaw ci the low, and not the present or'a littff Tate. If lhbt Ivore done'£lo,ooo jranld be saved to Messru 'Waterlow SitHti, Ltdy ia. One parii«nlar.v; -*vf. Mr Justice .Wxig&t regard to the credit. item ■ the sum ought to be abated by /-Onß- i thirteenth. "faith fegtrtL of the rate df exchange, the r%te vailing at the tiafc -ths- 'fttlyJhgev made t&tmld bfc thff;iatr f After the patties hid regard v to the figures it that it had been agreed thict should be entered fot the Biuigo. de Portugal fur £060,421, vrth costs.< < I ■ There - execatiott* for 14 days, and if*-within Messrs Watttloy and Sons to the satisfaction of Portugal aii.l gave notice of * apgeal,' there iwoutd be a atay until the Ju&rfng of tho appeal. ' . " > -jf 1 - ; Messrs Waterlow and Sons,.- in - an official statement of 'the action, infoym tjhfr that whatever may bo/the come of the proceeding? "jba'.thft the rcGolirces of* the company ate ample to ajiy eventuality, And that the efficient* conduct of th% vosittesS "Will lie in no way impaired. 1 t, '■>