.10
BANKER ON INDEMNITIES.
PLEA FOR MODERATION.
DANGER TO BRITISH TRADE..
A discussion en "The Economics of a War Interfolly. was opened ̃at a meeting of the Institute of Bankers on March 5 at the Schoot of Oriental Studies, Finsbury-circus, by Sir Charles Addiss joint manager of the -Hongkong and Sharghat Bank and a director of the Park of England. The chair wasinccupied by Mr. Henry Be, general manager of Lloyd's Bank, and among the audience were:
THE PACIFIC MAIL".
STEAMSHIP CO
The report of the Pacific Mail Steamship Company's operations for the year ended December 31, 1918, also statements showing financial condition and property at the close of the year, in part, says
At meetings of the Directors held April 8 and October 16, 1918, the officers were authorized to subscribe G. $1,000,000, and G. $1,750,000, respectively, to the Third and Forth Liberty Loans.
payments :-
During the period covered by this report the Board has ordered and Mr. Alfred Hoare, Mr. Higginsouthorized the following dividend. (National Bank), G. J. Scott (Union: On the preferred stock: 17 per Bank of Scotland). Mr. L. E. Thomascent. on March 1, 1918, to holders. (National Provincial and Union en record at close of business Fe Bank, Mr. H. W. Collins (Barclays), Mr. F. E. Steele (order County and bruary 15, 1918:13 per cent. on June 1, 1918, holders on record at close Westminster and Parr's Bank), Mr. of business May 17, 1918; 14 per cent. T.K. F. Page. Mr. H. Beacon (British on September 1, 1915 (date of retire. Bank for Foreign Trade), and Mr.ment of the entire outstanding issue Herbert C. Blyth (Stock Exchange).
of preferred stock) to holders on record August 5,1918. On the com mon stock: 50c. per share and extra dividend of GST per share on June 15, 1918, to holders on recojd'ât close i of business June 1, 1918; 50c. per share and extra dividend of $1 per share on December 16, 1918, to holders on record at close of business December 2, 1918.
ካነ
Although the actual operating. revenues for the past year were much
Sir Charles Addis said a review of modern war indemnities-money" in demnities-egg sted that they should. be moderate in amount. After the Battle of Waterloo the indemnity imposed on France by the Allies was £25,000,000 without interest, pay able in ive years. There was no indemcity after the warn the Crimea. The Austro-Prussian War of 1866 was followed by an indemnity of 40,000,000 Prussian thalers, re
in excess of those obtained during duced by counter-claims to ал
1917. our income account does not equivalent of about £3,000,000. The reflect this increase as in the case of French indemnity of 1870 was for all of our vessels, with the exception £200.000.000.. After the Russo of the s.s. San Juan and San Jose, the Turkish War of 1878, Turkey agreed earnings accruing to the Company to pay an indemnity of £32,000,000 have been determined entirely by the and afterwards defaulted. The in-charter rates allowed by the U. S demnity exacted from China by Shipping Board under the terms «Japan in 1891" was £30000.000. L. S. Government Requisition
An inclemnity of £67,000,000 was imposed on China by the Powers after the Boxer outbreak in 1901. Peace was concludes after the war between Russia ard Japan" ir 1904 without an indemnity. These
Charter.
Included in earnings are amounts entered as commission returns for the operation of our requisitioned vessels for the account of the United
THE CHINA
MAIL.
NOTICES.
ARROW
SOMETHING“ NEW.
WISEMAN'S TEA.
Our own packing and blending from the Choicest Ceylon and China Teas
1-lb. tins
Try It
NEW N. Y. K. STEAMERS,
80 cents.
ARRIVALS,
-May 1 "KWANGTAH, Chi, 1,536 tons, from
POST OFFICE.
Allied sokiiers in the various hospitals in Siberia are badly in need of reading mattor Any books, newspapers, etc. for their use banded in as the G.PO, w be packed and forwarded to them. fres|
The parcel poat service to Cuba is suspended.
It is notified that all restricticos as te the use of wireless Telegraphy by Merchant Vessels en the China Station have been abolished.
The Services to Germany, Austria. Bulgaria and the Ottoman Empire are auspended.
No unofficial latter addressed to Abadan, Ahwaz or obsmmorah in the Persian Gul may exceed eight ounces in weight.
The insured letter and insured parcel services between Egypt (or in transit through Egypt) and Cyprus are tempor arily suspended.
Uninsured parcels for the United Kingdom will in future be forwarded from Hongkong ip bags and the Public are therefore advised to pack such; parcels very carefully
Until further notica parcels for civil addresses in the provinces of Caine, Viceras, Treviso Padua, Vanice and Bel lune in Italy will not be accepted for transmission unless posted under the British War Office Permit.
The Parcel Post Services to British East Airies and Egypt (except for members of the Expeditionary Forces). and to Abyssinia, Bagdad Frithres, French Somali Coat, Italian Somaliad, Portuguese East Africa, Zanzibar and Russia have been suspended.
Registered and Parcel Mails clore 15 below unless otherwise stated.
indemnities appeared to have beers States Government, calculated upon service which has the cream of Seangasi, Capt. Stewart, C.M.S.N. Co.] minutes earlier than the time giveɔ |
based on a claim for damage done they did not include the costs of wart and they were for amounts' capable of being paid, so to speak, on the mall. The gravamen of the charge against the Germans in the case of France was that they import ed a new element into the indemnity amounting to a difference in kind. The object became penal, to punish the enemy by the infliction of a fire over and above the cost of the war,
to cripple his economic resources, and prevent, or render it difficult -for him to undertake a subsequent war of revenge. The Germans demanded and received more than they had spent. They made money out of the war at the time. Whether it was a good per- manert investment or not they were now in the best position to judge. Justice had its price, and if it was found that it could only be paid in full at the expense of our own industrial classes, then, in their interests., it might be expedient to be content with something less than the uttermost farthing. We had our rights: Ger- many deserved to be punished. Ger- many ought to pay, but he denied that there was anything soft on senti- | mental in the golden rule of doing as we would be done by. (Henr hear). There was nothing weak or unmanly in practising, the Christian law of forgiveness. A penal indem- nity was bad business.
**SELF-DESTRUCTIVE “
ARGUMENT.
|
the basis of rates for this service as published by the United States Ship ping Board
CHINESE ON BRITISH
SHIPS.
ין
The South Wales officials of the National Sailors and Firemen's Union met at Cardiff on February 27 to discuss the question, of employrcent of Chinese on beard British vessels.
No resolution was submitted, but it was agreed among them to advise al members of the Union not to sign on vessels where. Chinese labour is employed. **
According to an announcement by the National Maritime Board regard ing rates of overtime for Chinese seamen, it is stated that these, as compared with those for European seamen, should be in the same pro-i portion as the pay of Chinese seamen compares to the pay of European seamen, namely Is. 2d. ordinary days and 1s. 6d. Sundays.
THIEVING CHINESE
With a view to competing with i the Canadian Pacific steamer
the traffic on the North Pacific route with its big Empress beats, the Nippon Yusen Kaisha has decided to extend its service on that lie by building three new steamers each of 20,000 tons capacity, says the Japan Tintes
Japan's premier shipping company is in possession of over Y. 180,000,- CCO reserve funds which will reach aver Y. 200,000,000 when the profit for the present term is added and the directors have drawn up a plan to
corsduct these three fine liners by using these accumulating reserves, considering that North American line is fast becoming one of the most important sea routes of the world.
The steamers will have a speed of 20 knots and will cover the trip between Japan and America in a week. The first stearner will perhaps be ordered from a British yard and the other two will be ordered from Japanese yards.
At the same time the NY.K, in- tends to improve the service on the
|
Whart.
Saigen, Capt. Ame Treen. Thoresen & BALDIS, Norw, 1,065 tons, from Co., .
KWEILIN, Brit, 1,072 tons, from Wube. Capt. A. McDowell, B. & S., C43. IRENE, Chi, 826 tons, from Chefoo, Capt. N. MacLean, CMS.N. Co, Co's. Wharf. 17
HUICHOW, Bris. 1,200 tons, from Canton, Capt. Share, E. &S, N. Dock" yard
RWAH KUEL Chi, 771 tons, from Canon, Capt. M. Hirooka, B. & S., C35.
FUSHIKI MARE, Jap., 1,063 was,
from Eirum,, Capt. Hashimoto, M.B.,
C24.
Sbangbai, Capt. A. Ahlin, J.B.SC. ELDORADO, Amer., 1,626 tons, from
3.
Singapore Capt. W. Coskeri, B. & S.. STENTOR, Bt. 4.308 tons, from Eolts Wharf
CLEARANCES.
May 1.
Shanghai, J.M. & Co.
TUNG SEING, Brit, 6.m., for
CRILDAR Norw, 9am, for Hai phong, T. & Co.
YINGCHOW, Brit.,., for Canter, B. & S.
Japan-Shanghai line by adding three 6,000 tons steamers also to be newly constructed, to further facilitate the trade between Japan and Cbina. On the completion of the new steamers which will be built at home yards the service will be made an every. Į B. & S.- other-day service.
The company will also construct several new cargo boats in addition to these new passenger boats.
BRITISH TO CHINESE FLAG,
HOIHOW, Brit., 2.30a.m., for Canton,
KWEILIN, Brit, 6 p.m., for. Cunton, R&S
PROVIDENCE, Norw, 4 p., for Saigon via Swatow, M.M. Co...
HAITAN, Brit.; 2.30 p.m., for Feochew via Swatow, D.L. & Co.
BWAH KUEL, Chi., 4 p.m., for New- [chmoeg, B. & S.
www.c
Registration cioers at 3 c'clock on the In the case of Mails closing before 9 an pzavlear evening.
CUTWARD MAILS.
FRIDAY, May 2. Fort Boyard-Per BUX TAK, 11 a.. Philippine Islands-Fer LOONGSANG, India via Bombay- EJAZ. 2.30p.m.
9 p..
Philippine Islande Per MELVILLE
DOLLAR, 5 p.m.
SATURDAY, May 3. Straits, Bangkok, Ceylon, Mauritius, South Africa, India via Dhanub hodi kod Egypt and EUROPE via SUEZ Per ATSUTA MARU. Registration 9.45 3.m.
Letters
10.30a.m.
Japan via Moji. Honolulu, Hilo and Sun Francisco-Fer SEIYU MARD, '11 a.m. Tientsin-Per..HUICHOW, Sp.m. Shanghai and North China-Fer
STENTOR 3pm. Shanghai nad Nerth China-Per
YINGCHOW, 5 p.m.
SUNDAY, May 4. Swatow, Amoy and Formosa y in Keelung
-Per KAIJOMARU, 9am
MONDAY, Hay 5. Shanghai, North China, Japun via Nagasaki, Carada. United States, Central and South America, and EUROPE Tis CANADA--Fer SUWA" MARU. Registration 8.45 a.m. Letters 0.30 a..
Swatow azd Bangkok-Per LIANG-
CHOW, 11 àm.
TUESDAY, May 6.
The Indo-China S. N. Co.'s Namsang, which arrived in Hongkong recently, brought over 600 Shanghai Chinese, who have seen service in Mesopotamia and East Africa as stevedores, artisans, etc. They The argument for inflicting such committed numerous depredations an indemnity as would cripple Ger- on board the B. 1. s. Fazilka between many economically, and so put her out Bombay and Penang and on arrival of her power to prepare for another at Singapore the steamer was met war, appeared to be self-destructive by a military guard and, having been.] A crippled Germany obviously could relieved of a quantity of opium and Nantao Wharves on April 21 when The T.K.K. a.8. Shinyo Maru arrived at Shanghai, North China and Japan vis not pay a penal indemnity. To other articles. stolen from the ship, suppose that in crippling a nation they were conducted in batches of you thereby obtained a guarantee of twenty or thirty to the Alexandra exclusive peace was a chimera. The Barracks, where they were confined ultimate sanction of the League of till they embarked on the Namsang. Nations was force the combined
force of all its members instead of
the isolated force of any one of them.
trade.
was
A-great ceremony was held at the
the flag of the Yangtze s. Chengon was changed from British to Chinese. Over 100 Chirese guests, had been.
and a band was in attendance the ceremony of hoisting the Chinese flag being received with cheers.
invited by the Hoong On S.S. Co.
decided company was bought out by the with the Chinese holders and application was at once made to the British Consulate to change the vessels' registry from British to Chinese. As only about ten per cent, of the capital concerned was British, the charge is not a very great one and it remains to be seen how the ships will be affected should trouble again break out on the Yangtze.
MOVEMENTS" OF STEAMERS.
The
Yokohama April 27th, and will leave that Port for Hongkong on May 1st, being duo here May 14th.
Latest Advices. Shewan Tomes Co. 5.5. Celtic Prince is expected here from New York on 1st fag.
The C.P.O.S. Co's RMS. Empress 07
The
The
On that covenant, if we agreed to it. access to raw material. on discrimin. The flag of the other steamer of the a reasonable time for Company, the Tehhsing, will be we staked for good or ill the political ation, and security of this country and the world's Payment, we should be justified in changed on her arrival from Hankow. peace. We had to recognise that demanding, and might reasonably It will be remembered that, early in the whole political situation had been expect to receive, the maximum the year, the British capital in the The
which" it changed by the substitution of inter- amount national co-operation for international Germany could pay, competition, in defence. After the minimum of injury to bur own prior claims of Fance, Belgium Italy, Greece, Serbia, Roumania and Monten- egro had all been satisfied, and our own civilian damage repaired, he feared little would be left to defray our military expenditure, even if Ger- many were skinned. Gerniany had, no doubt, rendered valuable services to this country in the past, in ship ping, in insurance, in banking, and in various industries; but how would
FOR A LAME BACK it be possible for her to render such service in future if she were stripped caused to world's prices and credit WHEN you have pains or lameness in
the back bathe the parts with The of her banking and insurance the export of goods for which agencies in this country, and there was no equivalent import would Chamberlain's Pain Balm twice a day, her nationals forbidden to set foot prevent the receiving country fromassaging with the aim of the band for Hive minutes at each application. Then on its shores? Some apprehension securing the full advantage of an dumpen a piece of flannel alightly with had been excited at the pro indemnity. The interdependence of this liniment and bind it on over the The spect of our market being fooded nations made it impossible to cripple seat of pain. For sale by all Chemisto with cheap German good to the Germany without to some extent and Storekeepers.
An indemnity was a payment by Government directly out of taxes and indirectly ouf of the surplus pro- duction over consumption of goods and services. If the whole of the Surplus was taken and no inducement offered to Labour and Capital, the surplus goods would cease to be created. The act of payment was not completed until the goods had bean.exported, and the disturbance
crippling British trade; conversely,
detriment of our own industries, British trade would benefit by any but he thought these fears were
Exaggerated. Men would not work To secure the maximum indemnity increase of prosperity in Germany. without hope of reward. There must be the will to work. There with the minimum injury to the must be some inducement, sonierade of this country it would be degree of comfort and leisure for. necessary so afford Germany free.
الاف
YOUR COPY
เป
·OF THE
IS NOW READY-
the producer over and above the access to raw material; and freedom Hongkong $ Directory (ordinary standard of living, or to arrange her own mode of paying Labour would down tools. Capital the indemnity, which should be for a must be allowed to earn the ordinary moderate amount well within her rate of remuneration, or it would taxable capacity and on such terms. take wings to itself and fly away hope of redemption within a as to keep alive, in the debtor the TE Germany were afforded facilities for trade, freedom of market, free reasonable time. (Hear hear.
Mears. BREWER & CO.,
22 QUEEN'S ROAD CENTRAL
Japan sailed from Vancouver on April 17 and is due at Yokohama 196 May
Co's RMS Empres of C.P.O.S. Rusia sailed from Shanghai on April 27 and is due at Manila on April 30,
C.P.O.S. Co's R.M.5. Eryrere of Atit arrived at Vancouver on April
14.
TK.K. & Persia Maru arrived at Yokohama on the morning of the 18th and sailed from that Part for San Francisco on the 19th April.
The CPOS. Co's RMS. Monteagle left Shanghai on Friday, 11th April and is due at Moji Sunday, April 13th. The TK.... Nippon Maru arrived at Tokobaton April 7 and will sail for Fan Francisco from that, Port April 29;
TEK. sa, Anyo Mlaru arrived at Tokpunma March Wih, and will sail April 4th for Honelalu and. San Francisco en-route to Valparaiso, South Americn
T.K.K. s. diberia Maru arrived at Yokohama, March 6th from San Francisco.
Shanghai and North Chiru-Fer
SINKLANG, 10 am..
Nagasaki, Honolulu, "Cacads. United States, Central and South America and EUROPE via AMERIPA-Per TENTO MARU. Registration 9.45 a.m. --Letters 10.30 a.. Straits, Bangkok, Ceylon, Mauritius,
South
Afris
India vis Dhanushkodi. Egypt and EUR- OPE via SUE-Fer PELEUS. Registration 1.45 p.m. Letters 4.30 p.m.
The Parcel Mal will be closed on Monday, May 6, at p.m. THURSDAY, May 8.
and North Chinn-Per
BUTYANG, 102.m.
Shanghai
Shanghai,
Swatow,
North China, Japan via Nagasaki.Vladivostock, Canada, United States, Central and South America and EUROPE v CANADA-Per EMPRESS OF RUSSIA Registration 9.45 a.m. Letters 10.30a.m.
Amoy and Foochow-Per HAI- HONG, I p.m. SATURDAY, May 10.
"Shangbai and
Swatow
North China - Per KWANGSE, 4 pm,
MONDAY, May 12. and Bangkok-Per CHINHUA, 13.
NEW O. S. K. SHIPS.
Tel. No.
THURSDAY, MAY 1919- ENTERTAINMENTS.
.14
THE
173 CORONET T
TO NIGHT!
;
No.
1743.
TO NIGHT LI
at 5.15 and 9.15 p.m. WILLIAM S. HART
IN
"THE DESERT MAN"
"CHARLIE
BY THE SEA."
BRITISH GAZETTES Nos 50-505, 516-517.-
(Including Trafalgar Celebrations and visit of Foch and Clemencesu to London),
Booking at ROBINSON'S.
VICTORIA
THEATRE
where the best pictures are always shown first.
Starts 8.15 e 3.
MAY
1, 2, 3 i
The fical episode of
THE HOUSE OF HATE"
Episode 20 following " OLD GLORY." (To-night sees the closing of tirim gent serial. It has been the greatest success since the first time Pearl came on the screen in ELAINE."
SUNDAY Matinee (th. May at 6 P.M. "THE LAW OF THE RANGE.
Booking at ANDERSON'S.
HONGKONG THEATRE.
TO-NIGHT I
TO-NIGHT
Paramount Feature-3 parts.
VIVIAN MARTIN
IN
"THE ARRIVAL OF PERPETUA"
& COMICS.
SATURDAY 3rd May. CHARLIE CHAPLAN Fictoria.
THE CURE, parts
THE FLOOR WALKER, parts,
THE FIREMAN, 2 parts.
THEATRE
ROYAL
CHARLES HOWITT
AND
A. PHILLIPS Co.
TWO"NIGHTS EXTENSION OF SEASON.
TO NIGHT
WALTER HOWARD'S ROMANTH DEAMA
THE STORY OF THE ROSARY."
FRIDAY,
2nd May
SATURDAY,.. 3rd May
MONDAY, 5th May
TUESDAY,
6th May
WEDNESDAY,
7th May
THURSDAY, 8th May
"THE"SCREAMING LONDON FASCE
A LITTLE BIT OF FLUFF."
THE FAMOUS THREE-GENERATION. PLAY
"MILESTONES."
BRIEUNS GREAT WORK ON THE SOCIAL EVIL *DAMAGED. GOODS"
(FOR ADULTS ONLY),
THE GREAT PT PLAY
"SEVEN DAYS' LEAVE”-
BY WALTER HOWARD,
THE BRULIANT LOIDON COMEDY
"A PAIR OF BILK STOCKINGS."
FINAL PERFORMANCE
BY. SPECIAL REQUEST „THE BRILLIANT HISH COMEDY "PEG O' MY HEART."
-Prices: $3; $2 & $1. Booking at MOUTRIE'S,
CURTAIN 9.15 P.M.
NINGSHAO S. N. REPORT.
MINE DANGERS.
The tenth annual meeting of share in order to minimize the mine risk, holders of the Ningahao S. N."Co.it is announced that vessels making was held on April 20. The statement voyages through the Mediterranean of accounts for last year showed that the Bay of Biscay, the English Chan- The Osaka Shosen Kaisha wil business was satisfactory, there being nel and the North Sea, as well as to shortly have four new steamers in a balance of profit amounting to ports of the United Kingdom and
From this amount, France, should obtain routing orders... its service, the 9.a. Batavio Maru, $20,000 was transferred to reserve and latest information with respect to
$383,940.36. 4,200 tons, which is nearing comple fund, and $19,970 was appropriated the location of mines. and other tion, will be put in service on the for the redemption of "free travelling dangers to navigation, as the waters new Kedung Singapore Ene. The tickets" issued to shareholders on the referred to are reported as not having 35. Madras Maru, 4200 tons, will formation of the Company, leaving been completely cleared of mine s and.
net balance of $343,970.36. fother obstructions. shortly leave for the regular Euro Trendy now!
(With apologies to "Joan of Arc.") Tis ready now ! Tix rendy now | And its size will surprise everyone It exceeds all expectation "
It demands your approbation. Tis ready now
So do not hesitate. But buy today, without delay Or else you may be too late.
pean line. The Amar Moru, 8,000 tons, will be launched in the latter part of April, and the Amazon Maru about June.
Printed and Pabllaksed for Tax CoNCERNED by GRORO WILLIAM Cáon Busseri," Editor and Manager, No. 5, Wyndhara Brook, Hongkong: