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LORD INCHCAPE'S SPEECH.
Telephone 28.
THE CHINA MAIL.
'THE ANTI-DUMPING BILL. He had, he continued, read the Anti-Dumping Bill carefully and with growing consternation. If we wanted
a short legislative cut to commercial
INCITEMENTS TO NEGROES.
Suicide or an object lesson in the chaos, SEDITIOUS PROPAGANDA IN WEST
INDIES.
Some of the British West Indian"
in which the measure would involve the international trade of this country no more effective measure could be devised. The Government had heard what business men thought about it. and had postponed its consideration, pever, he hoped, to resume if Manchester the other day the Prime States, which is of a seditious nature Minister declined to say whether or and calculated to stir up race troubles nor he liked the Bill, and there was It is printed in the interests only one inference to be drawn from!
negroes."
this.
LIMITATION OF COAL PROFITS.
· HONGKONG'S ECONOMIC
RESOURCES.
WHAT" HINDERS DEVELOPMENT.
PROSPECTING AND MINING RIGHTS SAT ON
Islands have recently been flooded to be enquired into by a special com- Hongkong's economic resources aré with literature printed in the United mission appointed by the Governor. Just how it will proceed is a matter still to be decided but it may be taken asked as to why these economic re- for granted that no questions will be
sources which the Commission will
FRIDAY, FEBRUARY 5, 11900.
DAIRY FARM NEWS.
OUR BUTCHERY DEPARTMENT
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RABBITS, FARMS, FAMS, ΒΑΘΟΝ, SAUSAGES, CORNED BEEF & PORK, eto., etio
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0
TYRES
Any measure which sought to rivet on British industry the abomina-The postal authorities in more than unearth have not been developed be- tion of Government control, with its one island have prevented the distribu- fore. The New Territory is the only paraphernalia of licences, certificates, tion of issues of such publications. In part of the Colony to be naturally and affidavits appeals, argument with British Guiana a law has been passed logically associated with development. Government clerks, and all the worry by the Court of Policy making the That is the land which has been held and delay of justifying every transac importation, sale, or distribution of out to us as flowing with milk and documents honey. It has inspired visions of a tion in which business men might be newspapers, books, engaged would be fought unitedly by tending to create or arouse any sedi-new Hongkong, possessing its own
tious tendency a crime; the measure iron and coal supplies, for enlarged THE DAIRY FARM IOB & COLD STORAGE 00, LTD. the entire commercial community.
gives the Governor power to prohibit engineering works. Its potentialities. the importation of such literenure; are.. no doubt, to be inquired into. Although only interested in coal as power is also given the Governor to At present they are unknown. Why? a consumer, he could tell them that order officers to search for seditious These territories were leased to Great in the companies' "free" ships for the cost of bunker coat in London be matter, while the Postmaster-General Britain in 1998. Why have its re- the repatriation of troops was, hap- tore the war, when prices were is authorized to desin in course of sources not been inquired into before pily, coming to an end. In their governed by free competition, was transmission by post any suspected this? The answer can easily be sup- ships remained in Government service 25s. a ton; under Government con- newspaper, book, or document. The plied and at the same time one of the accommodation allotted for the trol it cost to-day 105s. He had read penatry for oftences against this law the Commission's greatest stumbling The 79th ordinary general meeting.'
Develop- of the Peninsular & Orients! Steam Company's passengers was not what the pamphlet of the Mining Associais imprisonment for life, or a shorter Blocks may be revealed.
Pas-tion on the proposal to limit the profit term as the Judge may think fit, or ament in the territories can only mean Navigation Co., Ltd., was held on they were accustomed to get.. December 10, the Right Hon. Lord sengers complained, but the respon on coal to 15. 28. a ton, and he agreed fine not exceeding £2.000, or both the exploitation of its mineral wealth.
sibility did not rest with the P. & with the association that the principle fine and imprisonment.
which the inhabitants of the Colony Inchcape, G.C.M.G... K.C.S.I.,
Company. The P. & O. express train of Parliament arbitrarily limiting they A law on similar lines is to be in have always beer fed to believe exist, K.CE. (the chairman), presiding.
to Marseilles had been re-established, profits of an industry was altogether troduced in the Trinidad Legislature. | but which have never been proved n The Chairman, who on rising was and he hoped in the new year that economically unsound; that it would it is certain that legislation will alse reality to any grear extent. That fact received with applause, after referring facilities would be available for their discourage enterprise and prevent the be adopted in Jamaica and other must be borne in mind. Very little to the powers recently obtained by west end clients at the company's inflow of the capital necessary to in- colonies to meet the situation. has been proved. At present mining the board to issue deferred stock in
dustry. If coal mining profits were In an article printed in The Times consists of a moribund lead mine own- lieu of dividend or bongs, and to the new offices in Cockspur Street..
to be limited what of other individual of October 15 & Washington Corre-ed by the China Mining and Smelting proposed distribution of deferred stock'
profits? What of the farmer, the soap spondent drew attention to the or- Company and managed by Messrs. to the amount of £200,000, remark-
boiler, the cotton-spinner, the brewer,ganized agitation carried on by the Shewan, Tomes. In fairly close pro- ed that although the delerred stock
distiller?. What of the banking and National Association for the Advance-ximity is an iron mine-and "et the had risen during the year in the mar
Anancial houses, the stock and moneyment of the Coloured People "an entrance of Sir Paul Chater's office ket the only concern of the directors
brokers?
What about the oil com association with many white members is a brass plate bearing the words was to build up their resources agains: the Government to make over. entirely panies-the Anglo-Persian Co., whichand by a number of purely coloured" Hongkong Iron Mining Company." a possible period of bad trade, liber on his own account, 77 steamers then promises a profit of 100 per cent.. for organizations, whose programme is to He apparently owns both the mine and ally to interpret their obligations in under construction for the Ministry of the present year. on the board of awaken class consciousness among the the plate. Let it be stated here in the carriage of mails, cargo, and pas-Shipping: a second contract involved which he had the honour to tepre-negroes in America and in Africa, and common justice and that is one of sengers, to deal generously with their furtier 79 steamers: a third con sen: His Majesty's Government. which to kait together all the coloured races the watchwords of the China Mail- employees, ashore and afloat, and to ract other 40 steamers. These 196 holds two-thirds of the ordinary capi- of the world. Many of these associa that to work this mine properly and give stockholders a reasonable return steamers totalled 1,400,609 tons talt What about the pitman of 1rions are run by young coloured So-effectively would require a big our on their capital. Although the com- gross, and their distribution among a week who, by his pushing person- cialists, and, in the United States, pany now controlled 427 steamers, British owners. involved aboutality, his brains, and capacity had threats of a race rising have been whose tonnage exceeded 2,250,000 £33.000.000 sterling- These tran- become general secretary of his union, chered "if the whites did not mend tons gross and whose operations were sactions, which went through in with a comfortable income? He, him- their ways." world wide, the personnel of the most agreeable way, were undertaken, self, had started life with a patrimony associated companies had remained act in the interests of the British mer of £2,000; after 50 years of mode- practically undisturbed, and the re-cantile marine alone, but of the wholerately hard work be found himself spective managements, by co-ordina mercantile community and so that the with what some people would call a Khedivial Mail Steamship Co. That but it soon gave out although the dis- tion. were endeavouring to reduce or, Government might be relieved of ship-| fortune.
If the incentive to work, company lost a number of ships by covery of the fact that it yielded 127 at least, to minimize working.cos:S«, ping business. They were concluded thrift and development were to be re-enemy action, but its large cash re- azs. of silver a ton induced the spend-" THE BURDEN OF CONTROL. without loss to anybody, and with no moved, let them limit the profits, not serves were being used to bring the ing of considerable sums of money on While shipping was one of the most profit to himself or his companies, only of the coal industry, but of every feet up to date, The Khedivial Co. it. Wolfram is still being found, but uncertain industries in the world, the which got their fair share of the ton other industry and profession.
owned valuable, wharfage property. hat will be dealt with later. It will P. & O. and associated companies had nage, but no more. If the Govern
workshops, and a good dry-dock it thus be seen, it the above informa- for years husbanded their resources.ment had been obliged to run these and, without committing himself, he ships on its own account, it would saw nothing to prevent their laying have spelt disaster all round,
PURCHASE OF GOVERNMENT STEAMERS.
In the early part of the year, his Lordship cortirued, he had, with con- siderable trepidation. contracted with
--TAXATION OF WAR PROFITS.
TYRES
O account of recent large arrivals at favourable exchange we are able to offer the well-known
U. 8. CHAIN TYRES at great reduced rates from 1st February as follows:-
TYRES TUBES
Tram - TUBES
lay as its position and transport facili ries, are not of the best. The mine has not been worked. It is under- stood, for some time. The only other mining operation to be recalled is the lead mine on Lantau which has been worked out. Lead was found there
B.L. $
X.L.
X.X.
28 × 3 30 x 3
19.10
8.16
34 × 41
74.30
15.05
24,25.
7.40
35 × 4
60.00,
30 × 31
31 50
8 20
35 × 44
75.80
16.45
31 x 4
49.70
9.75
30 x 47
7660. 16.95
99 * 31
30 40
9.85
189 *.4
50.60
11 10
765 × 105
47.98.
33 x 4
53.90
13,30
8'5 x 105
49.46
84 × 4
5410
14,00
880 × 120 ́
66 00
1440
17.15
Subject to change without notice.
A committee had been appointed to Egypt, and, "with up to date manage-tion is correct, that the mining in- consider the possibility of making a meat, possessed considerable poten-dustry in the New Territories is prac- levy on profits made during the war-tialities in both cargo and passengertically at a standstill. Now what about a airly acceptable statement before, *NATIONALIZATION OF SHIPPINO. They had an interesting task. While traffic, aided by transhipment facili- those economic resources that are to the stockholders a year hence. Gay- When he said a year or two ago the country was at war with Germany ties with the P. & Q. and British India be developed? There are two per- ernment requisition. partial from that the nationalization of shipping not all the commercial classes were Companies ar Port Said.
tinent questions to be asked regarding September, 1914, to March, 1917, would involve their retiring from busi out for getting all they might have
The company's investiments, stood them.. and complete after that date. was a ness after selling their ships to others got; in thousands of cases they made well under market prices, and the First, what scientific prospecting war measure, which could not possibly he had in mind not Germany, es had sacrifices of money and time to help value of the stares in their allied has been carried on in the past few have gone on indefinitely. The work-been ridiculously suggested.. but the country; "in some cases selfish companies remained at the figure at years? Second, who owns the pro- Ing of the ships by owners for the America. It British shipowners hadness alone ruled. The excess-profits which they were acquired. In this specting rights of practically the whole profit of the Government had been a now to compete with the American duty-a great help to the Exchequer they were fairly safe, as the com- of the New Territory with the excep- gigantic undertaking involving, among Shipping Board, which meant the re- for the time being-was radically panies were perfectly sound and their tion of the Kowloon Hats? The an- other labours, extremely heavy ac-sources of the American Government, wrong; it led to indifference and ex-distributions had been on a conserva-swer to the first question is none." counting work and the payment over his companies might yet be forced travagance; it stood now at 40 per tive basis. Their own ships had been The answer to the second is "Sir Paul to the Government by the P. & Ointo that position. He had, on Monceni, but we should never get back all well written down.
Chister." and its associates of very large, sums.day night, beard the American Am-to a sound position until it was entirely
For the purposes of prospecting the If there had been any profiteering in bassador, in a most eloquent speech, abolished. He could not question In view of their conviction that New Territories have been divided up freight rates and passengers' fares, say that he hoped the present cordial that the comminee would pronounce adequate supplies of oil would in the into sections and the licence to work shipowners were not the culprits. relations between Great Britain and the proposals impracticable. unjust, near tutare be possible the world over, any of these is $500 for six months. Under Government control these rates the United States would continue for and impolitic. Profits made during they had decided on its gradual sub- After the licence fee has been paid and fares had been advanced by from ever. If the United States Govern- the war had gone to swell the coun- stitution for coal. The difficulty of the licence holder may either carry 19 to 85 per cent.; freed from con-ment would turn its ships over to pri- try's capital account, to create more driving large ships at high speed by out some work or sit tight and wait. trol fast spring they came down vate owners, and leave those owners national wealth, to build more ships. internal combustion engines had no This latter process is the one, it is materially. Twenty-six of the P. & to compete with private enterprise in to develop industry.
been surmounted, but they would be alleged, that has been most followed. O. or British India steamers were still this country, he would not be afraid; |
in Government service, including 10 but if the American people were to be
PERSONAL INCENTIVE.
OIL FUEL..
able to raise steam for the reciprocat. No real prospecting has been carried
In order to conceive how futile ing or turbine engine at a cost hour; all that is done is natives bringing of the best ships of the P. & O. Rect.taxed to build up a mercantile marins would be any attempt to nationalize greater than that of coul and with less in samples of minerals they have ac- To be deprived of those vessels was at all costs, the outlook for the in the industries of the country, or to human labour; stoking would be cidentally discovered. Is that the a great handicap, and they would be dustry in these islands was anything control them by national councils, he abolished and the conditions of life prospecting intended by the licence? glad to have them again engaged in but rosy. Another competitor had asked them to consider the wheeled below deck improved. Delays for It is not even scratching the surface. the work for which they were design come on the scene. Encouraged by traffic of London, with its manifold refuelling would be reduced, and the The main fact, however, is the very war time profits, freedom from re-evidences of individual initative, comfort on board ships, to passengers, obvious one that with the licences now INCREASED COST OF WORKING. quisition, excess duty, or any other wending its orderly way through the as well as crews, increased. The In-in force no one else can study the It would be long before rates of taxation, the Commonwealth Govern-narrow streets; to reflect how-impessurance Fund.This fund, from pre- possibilities of the New Territories. freight and passage resumed their pre-ment of Australia had now embarked Sible it would be to bring all this mums received from their carrying That is why development has been war basis; all costs of working steam-on shipowning as a competitor with human activity under bureaucratic during some years of the marine risks | delayed.
ed.
ers had increased enormously; they private undertakings. The British control. Those who advocated the of the allied companies, added to cer- And what is the remedy? in the were bound to submit to economic lines to Australia had built up a Rne idea-failed to realize that the millions rain provisions from the past which first place it seems that the mining laws; and if ships could not earn their service of steamers, and had maintain of this country, hurrying, with per were now now all required amounted laws of the Colony should be revised. disbursements, they must be laid up.ed friendly relations with shippers for sonal incentive about their daily on September 30, alter payment of At present a man may sit tight. The Steamers now cost between two and 40 years. It was hard that the Aus, avocations, were at the same time claims, to £2,000.000 none too law should make it compulsory to do three times what they did before the tralian Government should now step working for the Crown and for the large e sum in view of the liability at come work, the same as the under war, and insurance, depreciation, and in, with the resources of the Australian national exchequer. He was, he said, Stake Referring to national expen taking that has to be given with regard interest had to be provided, on the people behind them. Merchants dis- perfectly satisfied that the Govern-diture. he said it ought to be much building land. Then a Mining In- Increased values. Foreign competi-liked the move, they realized that the ment were anxious to free the indus reduced in the coming Anancial year. spector should be appointed to keep tors, free of requisition, war taxation, Commonwealth Governament might not trial, community, and that no man, was Win a national "debt of about an eye on things. A prospector or excess profits duty, had made enor stap at shipping; that they might enter more desirous of abolishing control £8,000,000,000 costing, with sinking should either work on the ground or meus profits, but British shipowners, other spheres of industrial activity, than the Prime Minister himself, fund charges for war pensions, about be made to make room for someone who had philosophically borne, their and, by a direct anack on individual Their difficulty was fear of higher £550,000,000 a year-an obligation else. share of the burden of the war, could ism, involve the whole commercial prices and trouble to follow; but high- which must be met if we were to Wolfram was mentioned above and remember with pride the words of the community in serious dislocation and er prices caused increased: supplies maintain our credit we ought, as that mineral can be made the subject Prime Minister that without the loss. The Prime Minister of the and increased supplies meant lower soon as we had got rid of war capital of a little parable. British Mercantile Marine we should. Commonwealth, whom he believed to prices. He would suggest that they outlay, to limit our expenditure 10 bur "In the days of the Great War wol as a nation, have collapsed in Feb- be actuated by the highest motives, should remember the example of the revenue, to levy taxation to meet cur- fram was in great demand owing to ruary 1915. The P. & O. and would be well advised to leave the de-control of shipping: ther they rent outgoings, and not, to launch out its use in the process of hardening associated companies had lost by business of his country to those who should take the plunge and leave into fresh uneconomic expenditure; steel. Their stocks getting low, the enemy action 84 ships of 548,530 were in commerce, and to allow his things to the operation of the econ- and go on adding to our debt. During authorities in England decreed that tons gross, besides old ships sold and people to work out their own com omic law of supply and demand. the year they, with their associated British subjects could not export wol- losses by marine risk, but by means, mercial salvation. Sir Joseph Cook. Every penny of insurance, money recompanies, including steamers build. fram to any other country than Great of ships built, purchased, or building one of Mr. Hughes's colleagues, had covered by the company or its allies, ing, had added to the united Reets 104 Britain. At that time much wolfram -169 vessels of 1,168,298 tons recently said that governments must and a good deal more, had gone, or ships of a gross tonnage of 778,281 came down from the Kwangtung pro- gross-these losses had been mere never get in front of the enterprise of would go into new tonnage. Ships tons. They had met the obligations vince for export, but it didn't all go than replaced. Two fine P. & O. the business man, nor stifle his indivi- delivered had been paid for, surplus of the mail contract to the best oflo Great Britain An American also mail steamers the "Naldera" and ditality and resource; that a govern- balances were invested in Government their ability for five years before the came to the Colony and being un- "Narkunda "—contracted for before ment's place was behind the business securities, the loss on which must be war the company had had 260 mail restricted in his business obtained the war, but held up by Government man as a burress, a strength, a stay-devited to the account of patriotism. sailings in each direction between financial backing and sent much wol- requirements would be delivered, a limitation and a support; and that They had acquired during the year London and Bombay. During the five fram to his native land, to the great the one in January the other a few only so could Australia, as a nation, an increst of something more that years ended July 31, 1919, there had profit of those concerned with him. weeks later; four other large mail hope to lace the great tasks ahead hal ite shares in the Orient Co. and, heen 211 hurward and 220 homeware Where the mineral eventually went to steamers were building or projected; Mr. Hughes could how dispose of the while that company would continue to Indian mail sailings, and throughout can only be surmised but his Anax- the surviving steamers of the Moren Commonwealth chips at much more be worked as a separate organization. I the war they had never sent an Indian cial hackers were called patriotic. class were being reconditioned, and than he had paid for them, let him the linking up of arrangements for quil, either outwards or homewards, In conclusion the Economic Com- he hoped in a short time to see the follow the example of the British repairs and other matters should prove round the Cape. I spoke volumes mail services. 10 the East, the Far Government, fet him leave commerce of mutual advantage. After a visit for the navy as well as those in charge East, and Australig restored to the and industry to individual initiative, which he paid to the Eastern Mediter of the ships. normal regularity. The commandeer and so adopt the course which had ranean in the spring they had acquired. The report was carried unani ing by Government of passenger space made the Bridah Empire what it was also, the bulk of the shares of the mously:
mission should first of all, enquire into obstructions to the development of resources.: it these are removed;
there will be at least a chance. "At present there is none,
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