No. 17.395.
The China Mail.
HONGKONG & SHANGHAI BANK MEETING.
P
Moes, C. W."Beswick, D
J
二號二十月二年九十奎百九千奎英
ESTABLISHE
Stock banks; in
EXTRA
HONGKONG,
SATURDAY, FEBRUARY, 22, 1919.
tine
*2X2FACEPT
1919
APPOINTMENTS.
PRICE $3.00 Per Month
- Mr. Arnold Hackney Hollingsworth
FAR EASTERN CABLES.
[BY COURTESY OF THE HONGKONG DAILY PRESS']
CHINESE COMPLIMENT- TO, MARSHAL. FOURG
PEKING Feb. 20.
Lu Tseng Hsiang, accompanied by the military attaches, visited Marshat Foch on February 7th, and expressed the President's desire to present an illuminated Chiaho decoration to the Allied Generalissimo in recognition
of his brilliant success.
PERING-HANKOW RAILWAY.
The Allied Ministers are present- Government protesting against the ing an identic Note to the Chinese
the revenue from the Colony of Mr. Francis tions and the allocation of a majority
SMORES.
The US Department of Agricul
THE DEPORTATION OF GERMANS.
The deportation of the Germans is proceeding satisfactorily. The fourth and last transporting steamer la duc at Shanghai on March 6th.
WEATHER REPORT.
I ! *
·Hongkong. Bainfall for the 24 hours anding at 10 am to-day, 0.01 inches. Total sizes January 11.95 inches, against an average of 2.71 inches.
Forecast for the 24 hours ending at poon on February 23, 1919.
K-Hongkong to Gay Rock : ME winds, fresh : cloudy, rain.
Channel: N. winds, fresh to strong.. Hongkong and Lamocks: The asmS BE 1-South coast of China between
distribution to shareholders up to centre of the world. The interim modities adjust themselves in timo become a tradition which all of us £5.18/- per share, or £708,000 against report of the Committee po Curto any rate. Notwithstanding the would be sorry to see disturbed by £38,000 for the previous year. Alrency and Foreign Exchanges re-legislation of the last fifty years, attacks of this nature: The Salt Ghough the Sterling amount distri-cently published, is a warning against silver is still a power in the world, Revenues have shown remarkable
The following appointments are But vitality in spite of the disorders in gazetted in the Government Gazette buted is considerably larger this any speculation based on cheap and has to be reckoned with.
The total amount of February 21: The cedinary annual meeting of time, the dollar equivalent, owing money in the near future. The reis is in no sense the rival of gold.the country.
Mr. Octavius Francis Lubatti to this bank was held at noon today, to the higher level of exchange, is markable series of amalgamations On the contrary, it is a most friendly credited in the year by the Group the Hon. Mr. P. H. Holyoak presides than a year ago. I trust, arranged between the leading Engsistant and shares with gold, in no Banks was $71,564,000. Of this sum act as Government Analyst during In There were prosent Hon. Ir. Gentlemen, the proposed division of lich Joint Stok banks, have natar inconsidemble degree the burden of however about 15 million dollars were the absence on leave, of Mr. Ernest 5. H. Dodwell, Messrs. C. S. Gub.profits will meet with your approval. Fully excited a good deal of con- parging the commerce of the world retained by local authorities, includ Roadley Dovey or until further notice. bay, E. V. D. Parr, J. A. Plumpur Directors are of opinion, and troversy. As usual in such cases If by legislation silver were entirelying thosein Kwangtung. Szechuan and with effect from the 30th January, mer D. Landale, A. H. Compton feel certain it will be endorsed by there is much to be said on both discarded as a selium of exchanga Yunnan, and certain minor amovets (Directors), N. J. Stabb (Chief Shareholders, that it is wise to sides, and sauce any further amal in the present silverwing countries. were lost cwing to military opera Dr. Charles William M.Kenny to Alanaget), and the following sharo follow a conservative policy in these gamation is subject to governmental the whole balen would be thrown tions or attendant causes. A reserve act as Principal Civil Medical Officer holders-Sir Ellis Kadoorie, Messrs days. Speaking for myself, whilst sanction, it would be unnecessary for or gold. The volume of the of $10,000,000 was maintained during the absence on leave of Dr. I am far from taking a passimistic me to refer to the question at all metallic medium of expunge in throughout the year. The collection John Taylor Connell Johnson or A. Dnetur, H. 18. H. Nemazce, E. view of the trade outlook, it trust were it not that, as you are aware, the world would be diminished. of duty in the Swatow area of until further notice, effect from the 4. 0. Lang, B. F Thursdell, R. M. Raymond, "Ho Wing. D. Mae e admitted that the future is very all of these amalgamaten have not and prices in terms of gold must fall Kwangtung was voluntarity discon 8th February, 1919. dooald, Arthur W. Smith, D. Kuncertain and may contain many
been confinal to the English Joint all round. This would be particular-tuned for the time being on the 4th
the base they ly undesirable at the present momen: January 1919, as a protest against to act as Second Assistant Director ALLIED MINISTERS AND THE S. Fuck unforeseen dificulties which make it walla, I. M. de Journel, B. Dadvisable to strengthen our position have involved the transfer to the when the gold supply shows signs of the introduction of objectionable of Public Works during the absence Gazlar, R. H. Kotewal, Ross us much as possible, consequently Joint Stock bank of the control of slackening, and when, as we hope, motopolies of ste under the auspices on leave of Mr. Charles Heary Gale Thompson, Rev. Father Robert, J. the addition of $1.300.000 to the British banke truding abroad. With the commerce of the world is about of the Canton Military Government or until further notice, with effect E. Joseph, J. E. N. Moly, Sydney Silver Reserve Fund will, without out going into the pros and cons of to enter on a period of great expan in the adjoining areas of Fukien from the 14th February, 1919.
Mr. John William Franks to act as Michael, E. J. Chapman, C. A. da doubt, commend itsell to you. Full this new development of banking sion. No such fears, however, need control is at the moment rendered im Hough, G. H. Potte, J. HL. Tugart. known contingencies, but we are still tors are firmly of opinion that the demand for silver for currency put-f order and to the actions of the Yun Police Reserve, during the absence kow Railway due to military opera Roza, S. M. Chuong M. W. Lo, T. F. Provision has been made for all I should like to say that your Dirce be entertained: on the contrary, the possible owing to the prevailing dis Deputy Superintendent, Hongkong shortage of cars on the Feking Ham H. W. Wrightson, R. Swain, J. K. without any information whatever as Hongkong & Shangazi Bank should poses is likely to grow. Though nanese troops, but
from these areas: has Tweed, H. A. MacIntyre, G. Tours to the state of affairs in our late maintain perfect-freedor and in to excluded from the currencies of derived Fung Kong Ján, Ho Kwong, Ho Hamburg Ofice, no doubt the situa
way barter its liberty of action or Westen nations, except for subsidi- in any case been comparatively small. Charles Jenkin. Cal. with effect of cars to the allocat
Surgeon-Lieutenant Henry Brice Leung, La Cheung Ip. Lo Martion there will be disclosed during merge ite identity in that of a part-ary coinage, there are still large Owing to the high exchange and the from the 17th February 1919. Hing, A. Shelton Hooper, C. Dthe current year. The $71/2 lace ner. We believe that all the ad. areas of the world where suver is surplus collections by the Maritime Parker, M.B., B.S., London), R.N Wilkinson, P. K. Kwok, G. C.) to be written off Bank Promises af vantages claimed for uulgarnations required and where it is the Customs, the Salt Revenue, has only temporarily to act as Government Moxon, A. Dennison, V. Botalhe, slightly in excess of the amount can be secured, without any sacrifice only acceptable and satisfactory heen called upon to pay about 4 mil. Bacteriologist, with effect from the A. Paine, J. G. Sheppard, A. Spent during the year, but future of our independence, by friendly Tedium of exchange. The opera-lion dollars during the year in respect 12th Februar7, 1919.
tions of our armies in Fales of the obligations charged upon it. Sire, W. E. Robert, O. 1. Ellis, J.Outings for Bank Freees will be alliances or tag arangemente
and Mesopotamia, and
in On the other hand, nearly 2 3/4 mil- 11. de C. Basto, A. F. Samy, S. consklerable and the devount will with banks operating in other spheres G. Newall, Chau Shin Ki. D. Jequire appropriations for some time than outs, azt to this policy it is what was German East Africa, have lion dollars were refunded to the Salt to come. Plars are being prepared our intention to adhere The price silver, and as these regions become of payments made for the Boxer In- already created a new demand for Revenue by the Customs in respect Lewis, W. G. Humphreys, A. Beattie, Chan Shu Ming, Tung Shi for rebuilding our Shanghai Freinises of silver has ruled high during the setried the demand is bound to condemnity in 1916. In November last Ngong, Churg Tong, P. M. S. da and an extension to cur office here past twelve months, but the fluctuatinta. With security, the production Sir Richard Dane retired from the silva, A. H. Skelton, G. D. Darby, is under consideration, besides which tions have been less violent than in of foodstuffs and raw materials wili post of Associate Chief Inspector of
. E. GriEn, G. W. Barton, Lee rebuilding and/or extensions will be the two previous years. The high rapidly increase, trade will expand, Salt Revenue and was succeeded by tr reps that 99,000,000,000 Loon, and Q. H. Ritter.
necessary at other places in the nearest and lowest quotations were 1944, acd money in the shape of silver wii Sir Reginald Gamble, late of, the In- cigaretes were produced last year.
February izd. 194. - 38m-Belsted. future, recessitubing the expenditure and 12. respectively, as compared
returns from Japan," indicate that The Chief Manager (Mr. N. J. of considerable sus. A bonus of with 354. and 23. 11/154. be required to carry it. The same lian Civil Service; the administration As far as is known few were exported.
may be said of other large parts of which Sir Richard Dane built up
depression of considerable intensity Stabb), baving read the "potice 20 per cent. on salries for the year Duting the first three months the Africa. Here in Chias, when the daring years of laborious work
passed to the north of Ishigakijima, and convening the meeting the Chair has again been voted to the Staff,
price did not go above 400, and political turmoil is over and railways a monument to his executive umn said: (fentlemen, count and I am sure this retion of your varied between that and 124, but construction can be resumed, and ability with which his name will ever good. Gentlemen, I have not dealt Naha yesterday : it is situate between myself fortunate in the privilege Directors will receive the hearty in April & bill known later as the when exports long held up are again be connected. He won the regard with trade because it is difficult to sourb Japan and the Bonins this of addressing you in the year of support it deserves. As regards the Pistmas Act, was introducel in free to low, it certain that the and confidence of all, Chinese and know where to begin and where morning- victory. On the 11th November, Balance sheet. I do not think there the Senats at Washington, providing balance of trade will call for cox Foreigners alike, with whom he came to end. The artificial conditions Pressure has decreased considerably 1018, an armistice was signed on are many changes in the Sgures of for the making ifta bullion of 20 siderable imports of silver. In in contact; and it is sincerely to be and restrictions under which it ever S. Japan, and alightly to moderately terms which sure the acceptance sufficient interest to justify my tak million, subsequently imrewed to Shanghai, and the North there is hoped that, after he has enjoyed his has been carried on during the elsewhere, except near Formosa and N. of peace, and prevent, as far asing up your time in making com 350 million, of the silver dollars likely to be a serious shortage of well-carned rest, he may be induced past year and the volume of Japan, where moderate increases have Ian provision can, the recurrence parisons. The total Assets ind
the Treasury originally coined from currency unless fresh and substantial to return to China and to place his trade that has been done notwith- of lotilities. The object for which Liabilities in Mund figures amount the 120 million ounces of silver pur supplies of silver are forthcorning ripe experience again at the disposal standing, inspire one to believe that over. Chinelo Bren Great Britain and her Allies entered to $432 millions against $419 mil chased under the “Bland Aet of from America and it is to be hoped of the Chinese Government; in other when once the transitory stage from situated over N. Chins and a shallow the war has been attained. A great lions the previous year, and with 1878 and the Sherian Act of that China's needs in that respect much needed directions. The figures war, to peace is passed, the future depression covers Inlo-China and part- Teur has been lifted from the earth, the exception of Cash and Bullion 1800. The Treasury is under oblign will receive the sympathetic consider of the Customs and Salt Revenue will hold even greater possibilities of of the China Sea. und if we cannot grasp the full in-in band and in transit on the one tion to purchase at the price of a tion of the American and British collections for the year 1918. al trade than heretofore. That Britain port and significance of the change,side, and Bills Payable on the other collar an ounce an amount of silve Governmentss In view of the though they show some falling-off in will maintain her foremost position it would indeed be strange if men's the totals under the different head equivalent to that of the silver do important supplies of necessary pro- the case of the former, cannot in this trade I have the fullest con- urinda were not stirred and their ings show increased figures. Wehrs sold under the Pitthu Act," dects which all Governments draw on the whole, be considered unfidence. We cannot but view with hearts quickened by the recollection have discontinued the separate item but there is no stipulation us to from China, and of the considerable satisfactory, especially when taken apprehension the general labour un of the great price at which this free for our holdings of the Indian Goytime. In anticipation of the passing disbursements.some of them have in co junction with the high rest prevailing, the world over. As dom has been purchased. Of those ernment Lean and all our invest-of this F. the London quotation still to make on account of the level of exchange. But it must be far as our own country is concerned, who joined H.M. Forces from the mense now appear under one bead- rose rather rapidly from 45 on the Chinese labour imported into Europe frankl confessed that a review of legislation and reform are foresha Staff of this Bank, thirty-six haveing. Although
our holdings of 10th April to 11. on the 21th, for service in the Wir zones, we can the past 12 months reveals a very dowed to diminish unemployment, uade the supreme sacrifice, while British War Loans have been in and eventually, on the passing of the surely expect that the relatively serious deterioration in
China's stamp out evils, and raise the stand many others, I fear, may have beencreased, the dollar equivalent, owing Bill, the New York quotation ad moderate. supplies of silver which general financial position, the reason ard of well-being throughout the No. 1. too seriously wounded or under to the higher rate of exchange, is not vanced to a dollar an omen. From may
be necessary to make a for which is not far to seek. The Empire. It is a programme de- mined in health, to permit of their much larger than that of last year then onwards, the market has been normal.. money market in North exactions of a futile Civil war which serving of the greatest sacrifices Rokong sad Hainan: The same undertaking work abroad. To the The amount of Bills rediscounted, characterised by long spells of ur China will be made available by would seem to be kept up chiefly for but it is likewise one that legislation Yo, L. relatives and friends of those we riz: £5,475,000, is much smaller changed quotations: from the 13th the Governments which have at pre-the benefit of rapacious and despotic alone, cannot achieve; one that is 0. W. Jarenes, Chief Assistanc inourn, I take the opportunity of than for sometime past; this was due Alay till the 2nd July-48 was the sent the control of the metal. The Tuchums, and the maintenance of a doomed to failure unleas labour Hongkong Observatory, Feb. 25, 1919. tendering our deepest sympathy to monetary conditions at home quotation; from the 2nd July till Chinese Maritime Customs Revenue huge army which is unable to recognises and accepts her responsi- Before proceeding with the businessmaking it more suitable to carry, in the 21st August 48.18/10; from the for 1918" shows a decrease of over control and has not the means to bility to place and keep the nation of the Meeting, I have also to refer preference to rediscounting, a larger 21st August till the 12th Noven Haikwan Taeis. 1,850,000, the total disband, have imposed upon the in a position to compete and increase monthly its trade in the markets of the world. with great regret to the loss we have proportion of Bills than usual ber 4944. trom the 12th November collection being in round numbers Central Government eustained by the darth of Mr. J. R. October a Branch Office of the Bank till the 6th December 1914: from Haikwan Taeis. 36,334,000 (at aver burden of something like twelve or I am optimistic enough to believe M. Smith, our late Chief Manager, was opened at Vladivostock, and the 6th Deceber till 11th Februage exchange 5/3. 7/16 equal to fiften million dollars, to meet which that labour will carry out her obli- compared with practically the only resource avail- gations in this respect. Gentleman, which occured at home in August your Directors consider that, in time, ary 48.7/16;" and "from the 11th £9,603,908) as last. Mr. Smith joined the Eastern it will prove a valuable addition to February the price was 47td. until Haikwan Taels. 38,189,000 (at aver able (for the provincial revenues are 1 now beg to propose the adoption mmpiled at the National Almause Ofice Staff from London in 1862, and our list of agencies. "It has already the 20th February when it declined age exchange 4/3. 13/16 equal to all impounded by the Tuchuns) is of the Report and Statement of in London from the result of the analysis alter occupying many important beer of considerable assistance -în
antómatia' tide-rocórding machine in the. to the present quotation of 47d.; £8,244,448) in 1917. The collections the monthly release of Salt Revenue Accounts, if you have any questions of pervations taken by means of an post in the Bank,
ap financing the various Governments"
Water Police Bazin at Trim Bha, Tani the last six quolations.being the at all the principal ports show a averaging from four to five million to put, I shall be pleased to answer
turing, the years 1903-9. pointed Chief Manager in 1002. requirements toare. The outstand maximum price sanctioned by the decrease except that of Dairen, dollars. The result has been what them.. ike conducted the fairs of
The zor of the table corresponds with Mr. Ross Thompson said he associ the ing feature of the year in the London British Treasury during
these which is a record and shows an was to be expected the deficiency Bank with marked ability and money market has been the low
Iman had said in memory of those Chart, which has been found to be 4 feet success until his retirement at the level at which money rates have been periods. The decline in price since increase of Haikwan Taels 473,000 could only be met by borrowing, and ated himself in all that their Chair- the zero of the sounding in the Admiralty end of 1910, and from then unt the artificially maintained for the pur insurance and feight rates on the port in 1917.
12th November was due to lower over the revenue collected at that for the past twelve months or more
1 inches below mean, sez-level ** After all foreign China has steadily borrowed from the members of the staff who had made To obtain the depth of water on the tine of his death continued to render poses of war. For the first time in Atlantic. In August, owing to the obligations secured upon the Customs only source open to her, and on terms the supreme sacrifice whilst serving tide range at the Victoris Naval Yard valuable assistance in London as a Banking history a discrimination has extreme necessity that India and Revenues had been fully met, a corresponding to the extremity of her with his majesty's forces in the War. add a foot 4 inches, and on the gange member of the London Consulting been made between foreign and the British Mint should secure more balance remained at the end of the need. Such a policy, if continued. In this connection be was merelyst Lamont Dock, Aberdeen, adil 10 feet L'humittee of the Bank, where his domestic money. In order to pre-silver, the U.S. Government Exet year of Shaf Taels 8,600,000, which can clearly lead to only one result, voicing the feelings of the shareholinabos to the height given in the table. great experience and sound judgment vent their withdrawal it was agreed the maxitium price at 1014 cents, was released to the Chinese Govern and in China's own interest it is satis ders and with all sense of reverence were freely placed at the disposal of with the Bank of England to allow and at the same time prohibited the ment on the 25th of January last, factory, to note the recent announce for those men (Applause). He was the Management. By his death the 41 per cent, on foreign balances held export of silver, except under licence, other purposes, to the payment of the that further advances to China will be of these other members who had the funds being assigned, amongst ment of the Japanese Government given to understand that the number Bank loses a very able counsellor in the Country, and this rates for essential civil and military purist drawing of the 4th Year Internal subjected to strict scrutiny and conserved in the same way and who had bid, like his predecessor, the late been maintained throughout the
poses, thereby curtailing the very Sir Thomas Jackson, his name will year. As regards: domestic money, large shipments required for China. Lahn, payment of Chinese Legations fined to approved industrial objects passer through the ordeal unscathed cecupy a very prominent place in the the Bank of England on the 2nd This prohibition of exports from the and Consulates abroad, faancial But the stoppage of improper remed were now on their way to resume their story of the Bank, whose welare January, 1018, reduced the rate of United States was very shortly fol- assistance to silk filatures in Shangies alone will not remove the cause of places in China. Their coming would
lowed by a similar prohibition in hai and Canton River Conservancy, the disease and until China is relieve the great strain of work as heart. He shunned publicity and per cent. to 8 per cent, and on,the Canada, and the amouals secured The 1918 revenue of the Native relieved from this military tyranny which was brought about by a de puble thanks, but those who knew 14th February the rate was further by the Allies for coinage purposes General's control shows an increase of administrative reform must clearly been carried out under the most Customs Houses, under the Inspector all her efforts at Snancial and pletion of the staff, and which had kibest will remember many in-reduced to 3 per cent. To eliminate
has consequently very much in- standes of unostentatious kindness competition with Treasury Bills, creased. Owing, however, to the over Haikwan Taels 195,000, the be fruitless. Nothing is more true arduous conditions. He further d and generosity. He had the affec-which were being offered at the ta insatiable demand. for rupets in total collection reported being in than the old proverb. Heaven helps wished to emphasize all that their round numbers Halkwan Taels those that help themselves." China chairman had said about the late Mr. tion of many and the respect of all. duced rate of 34 per cent., it was India, the requirements for coinage 3,972,000. I feel I cannot pass over cannot go on borrowing for ever, and J. R. M. Smith, their late manager, Bat As usual 1 propose to take the arranged that banks generally should still seems far from satisfied! This the subject of the Maritime at a time when all the world's whose loss was deplored by all. He Report and Statement of Accounts, not offer more than 8 per cent. for is all the more remarkable fo view Customs without a reference to the resources are wanted for the urgent referred to the Report, and State- which have been in your hands for deposits of any kind, long or short,
of the enormous amounts that were highly regrettable public attack re needs of reconstruction, she can ment of Accounts and said he was come days, as read. The result of The peculiar circumstances of the purchased during the past year for cently made against the Head of the expect little assistance from outside. sure they gave great satisfaction to the year's working, including Eastern banks, with their large bold. India and also for the Home Mint. Sérvice by one of its late members, Assistance, it would seem, she must all the shareholders. Concluding, he 53,223.288.18 brought forward fromings of long term deposits, was re-
The aiguing of the armistice on 1917, show ♫ net profit of cognised by the concession that cur November 11 has had no immediate and which is apt to create an erron- have to rid her of the military said he had great pleasure in second- eous impression artongst those not parasite which ja draining the vitality ing the adoption of the report and $0,920,420.02. The interim, divi-rent deposits might be renewed at
effect on the silver market, nor is conversant with the great value of of the country and paralysing every accounts. dead, pa'd in August last, of existing rates for periods of not less it likely to in the near future; it the work done for China by the Cus effort at reform, and it is earnestly The motion was put to the
HONOKONG AND SHANGHAI: £258,000 at exchange 8/8.174 ab- than one year. The result of these
bed $1,577,579.63 after deduct arrangements has been a saving to appears probable that a fixed maxi-tons Service. In an administration to be hoped that in this and other meeting and carried unanimously.
mum price, will continue for some which is the growth of sixty years respects, the claims of China which Mr. T F. Hough proposed that
BANKING CORPORATION. ing that amount, and $80,000 re- the Government of about 1 per time. I need scarcely tell you, of compromise, it is hardly possible cannot be ignored in any scherne of the appointment of Mr. J. A. Plum
cantation to Directors, there tocant, or their borrowings from the Gentlemen, how important it is for that anomalies should not survive, world-reconstruction will be accorded mer as a Director be confirmed and THE FINAL DIVIDEND DECLAR is a balance of $8,312,841.80 to market as compared with the pre-all of us. for Merchante as much as which cannot always be remedied by the consideration which is their due that the Hon. Mr. P. H. Holyoak, MD for the Tear ending Slat be dealt with, which, as you bave vious year. Reverses and successes Bankers, that flie price of silver a stroke of the pen. Where these by the Conference now sitting Mr. C. S. Gubbay and E. V.D. Parx December 1918, at the rate of Twe ween from the Accounts, your Direc-on, the field of buttle have had very should be reasonably stable, because are prejudicial to efficiency, and can at Versalles. But in the main, be re elected Directors. This pro Pounds five shillings Sterling together ders recommend shall be appropriated little effect upon the rutes for money on that accessarily depends the rates he remedied, I have no doubt they China must work out her posal was seconded by Mr. CW. with Boans of One Pound ten chili- as follows: A final dividend of and discount. Under the influence of exchange with gold using .com will receive attention in the proper own salvation. There is no royal Beswick and was unanimously agreed ings Starling per share, is payable ca 4.2.5.0. plus a bonus of £1.10.0 per of Government control the London We consider, low rate of quarter, and so far the suggestions road; and experience has abundantly to
and after MONDAY the 24th day of slisze (subject to deduction of in-market has become a great automa-exchange is on the whole more bone in the pamphlet referred to may be proved that the only path for China Messrs. F. Maitland and A. M. February Current, at the Officer of the core tas) payable at the rate of the money machine in which the porcinl to aude out here, especially to welcomed, however, one may regret lies in the economy aid patient Williams were re-elected auditors Corporation, where Shareholders are 3/4 1/1; Transfer to Silver Reserve sonal equation of the individual the cass of certain industries the method of their presentation, development of her own resources for the year on the proposal of Mr. requested to apply for Warrants. Fund, $1,500,000; Write off Bank banker or financier counts for very where hbour Agures largely in the But the salient fact remains that the the employment of capable and A. Beattie, seconded by Mr. A. O. By ORDER of the COURT of Premiers Account, $750,000; and little. It remains to be seen how cost of production: but whether the Maritime Customs has been the sympathetic foreigners, not as Lang
DIRECTORS: carry forward to the current year far and how soon it may be posate he high cr, low, what is of paru financial sheet-anchor of China for advisers, but as executive officials The meeting concluded with the $3.279,411.48. It is proposed to jnable, once these irksome restrictions: crange the final dividend by 2/ toore rermoved, be restore the old free mount importance, and what we do the thirty years and the foundation with power to carry out necessary announcement by the Chairman that €2.5/- and be the bonus 10/4 conditions which prevailed before the above all, desire, is a steady of her credit abroad; and the honour reforms and above all by the sinking Dividend Warrants could be had on
application, higher at £1,10, bringing the total war pad mede London the financial change trade and prices of com able record of its administration has of party differences for the common
and best interests he had ever at interest on banks' balances from 4
A-Month mast of China hetween
HONGKONG TIDES,
The tide-table vigen below" har boen.
February 23 to March 1, 1910.
STAN, WATAA
21
Low WATER
Wala
TEL.
inferior, hizk
117
..th
sor ne
bigb
TO-DAY'S ADVERTISEMENT.
N. J. STAER
Hongkong, Feb. 22, 1919,
Chief Manager,