MONDAY MAY 22, 1923,
A SHANGHAI SWINDLE
THE SCANDAL OF DUAL" NATIONALITY,
BANK MEETING.
HARTERED BANK OF INDIA
AUSTRALIA AND CHINA,
protege The only real effect this registration can have is, that the person registered render himself fiable to be sued in two courts instead of one. This question of foreign registration of Chinese has become such a scandal, the Assessor con- .The standal of dual nationality, tinaed, that I am determined to do meeting, of the Chartered Bank of The sixty-eighth ordinary general against which the Associated Chamall in my power to stop it. Within India, Australia and China, was beld bers of Commerce protested at their the last three weeks, some 10 or 12 on April 5, on the bank's premises, 35, last annual conference, has at last caves have been brought to my Bishopsgate, EC,Sir Montagu Cornish "received the treatment which it has attention in which Chicese defen-Tamer, the chairman, presiding. so long deserved and the Journal dants Lave attempted to evade The
behalf of the Chambers can- sad actually have evaded, justice by Preston) having read the notice con Chief Manager (Mr. W. E. gratulates Mr. Blackburn and Ma getting foreign registration or Tering the meeting. gistrate Li most hearily on the protection. strong line which they took on April 23 last. On that day they had before them a Chinese. Liang Fung-sung, who was charged with
on
Mr. Hartin: Spanish law empowers a Spanish Consul to take and protect proteges.
The Assessor: We are not concern-
having solda forged fangtas and withed with what may be Spanish law on baving been, in collaboration with this subject. This is a Chinese snother persca. Himerli the forget. court.
It
appears that it was only when the accused got into trouble that he ran round to the Spanish Consulate and got protection.
The Chairman said: Gentlemen, before dealing with the antinary busi ness of the meeting. I feel it would be only right to refer to the death, in October last, of our former chairman Mr. John Howard Gwyther. He first, entered the service of the bank in 1865, and was on the court of direc-
period. man for the last eight years of that high esteem in the City of London as Mr. Gayther was held in a banker of wide experience, sound judgment, and of the highest integri- ty. The bank owes much to Mr. Gwyther's sound, prudent, and able management..
The complainant was a Japane asd Commenting on the date of re-tors from 1337 to 1904, being chair- Dr. Fischer, who appeared for him,gistration, the Asses or added: informed the Cours that when the want, which had been issued by the Japanese Amassor, was served da the add the Itter produced a certificate showing that he was regis- Mr. Harrigan observed that the tered at the Sparish Consulate. The practice of protection by foreign forgery, Dr. Fischer stated, took Consalates had been in vegue for place fore the date of registration a long time, and be had not expected which, in his opinion, showed quite the Mixed Court would disregard a clearly that registration at the Spaa-i certificate of protection issued by a ish Consulate was simply an attempt foreign Consulate.
to evade the jurisdiction of the Court. The Assessor: The abuse of re- Mr. Blackburn described, the certificgistration has grown to such serious ate as valueless and the Couit decided proporties that we must go behind that it would asrame jurisdiction these certficates in the interests of in the case, and in similares-es, un-justice. If the Censal for Spain less the person concerned produced swishes to make objection, he can take certificate from the Chinese authorities the matter up cially through the releasing him from Chinese nationality. proper channe..
Compare with these events the following experiences detailed by Mr. J. H. Teesdale at the Conference of Chamberslast November:
Istter
Exed."
Mr. Hartigan: There are hundreds of proteges in the French concession.
The Assessor: There may be, but the French Mixed Court will not look at their certificates, and I do act intend to do so either.
balance-sheet and report, I will ask Before moving the adoption of the Mr. Preston to read the certificate of the auditors.
certificate of the auditors,
The Chief Manager then read the
At the
THE CHINA MAIL.
No good motor car is the result of a happy inspiration or of a fortunate accident. Real goodness comes only after long practice and careful, intelligent experimenting. The Hap mobile was first built in 1908.
Hupmobile
Distributors:
ALEX. ROSS & CO., Hongkong, China.
adoption of the report and balance- The Chairman: In moving the ehret, I think I am justified in saying that, considering the conditions of trade and commerce which prevailed in 1921, the results disclosed therein may be considered as satisfactory. We have been able to make good use of the increased resources at our disposal, consequent on the increase Alawyer is instructed by a foreign
of the bank's capital; we show a Erm to take proceedings on a simple contrar: debt against a Chinese dealer.
moderate profit on our operations, Both the Japanese and the American and we give shareholders a reasonable The usual letter before action is Assessors have supported Mr. Black-return on their investment written: probably no reply is rouch-burn in this strong line, the American same time we can assure them that the comparatively low rate of er-seen that the directors recommend course they were taken at market the successful way in which the ented and a petition is seat to the Assessor in a very similar case brought all possible contingencies have been change. Serious losses have resulted, the payment of a final dividend at prices on December 31. Alized Court. In a day or two it is before him on May 2, when the claim amply provided for. returned by the registrar with a note of Spanish registration was put for to the effect that the defendant claims ward by Mr. L. K. Keatwell on behalf
but the position has improved of late, the rate of 14 p. pa, together with
business has been conducted during OBSTACLES TO INDIAN TRADE. and stocks are moving off gradually. a bonus of Ca. 3d per share, making, will tell the meeting, Sir Montag,
Mr. Tomkinson: Perhaps you the past year. Without any further foreign jurisdiction. I myself had a of one Tsang Mai hing, who was!
The year 1921 has been one of Some time must elapec, however, with the interim dividend, 204 p.. what's great incre 188 there has been, words, therefore, I have very much case at the beginning of this year. charged with embezzling T. 17,000 considerable auxiety, of hope deferred, before the position of the import pa, free of Income tax. We propose because a great many people probably pleasure in moving: "That the I received the neuf notice from from the Tai Hang Toen gold shop of frequent disappointment, and of markets either in India or Chins can to add £100,000 to the Mixed Court and at once in of which he was formerly accountant, avoidable losses to most of those be regarded with equanimity. It is £25,000 to the officers superannus- ladies here..
the reserve, do not know it. There are struc.ed the only legal practitioner of the alleged embezzlement having trading with the East. In India the satisfactory to note that the tea tion fund, to write off premises
some best thanks of the shareholders be the nationality claimed by the taken place, Mr. W. S. Fleming stated, absorption of accumulated stocks, industry has wonderfully recovered account £50,000. and to carry far-left unsaid. The only other criticism The Chairman: That is better
given to the directors and staff for defendant w take the case up. He betere the registration was effected, which might reasonably have been from the position of adverzity which ward £215,169 15s. 5d. We must all I have had is on a postestd received the bank.
their successful management af replied regretting he could not do so-We take the same attitude," Me anticipated, has been hindered by overshadowed that most important congratulate because he was retained by the Tenny declared which the Court to principal causes. Political agita asset in the trade of India and Preston and his colleagues: Messrs. suggests that the March dividend by have pleasure in, seconding the most heartily Mr.this morning from a lady, who Mr. Tomkinson: Mr. Chairman. I defendant. I was then faced with took on Friday and Saturday, pending ticu, with unfair pressure on innocent Ceylon. Rubber, I regret to say, Bruce and Milic, on the results which I presume she means the pa; resolution, and after what has been having to prepare pleadings in a a statement from the Ministry of traders, has at many points been is still in & langus e of which I knew no; a word Interior regarding denationalization. exercised to prevent consumption of condition, and a return to paying member of the staff at home and should be paid in March. Well, said by the proposer. I need add
very unhealthy obtained. We thank them and every we are hoping to approve to-day. and of having to address a court in Catil the accused produces a certificate British goods-az agitation which prices has not yet been accomplished, abroad for their loyal and devoted considering that the accounts of the nothing, except to say that we are- that tongue. Needless to say I did of denationalization we shall take should never have been permitted to. Tin as a commodity has depreciated services to the back. not take the case op. Another legal jurisdiction."
aesume the proportion it attained. in value, and with the failure of these gentleman, "That the report now North of China, Japan, Jara. Manila of the bank. If I might mention I now move, bank have to come right from the greatly indebted to the management practitioner told me that when he was
The Spanish Consul's observations The second adverse factor has been principal sources of prosperity the presented, together with the balsace and America. you can understand ose instance to show how the faced with the same difficulty he went on these transactions, given out for the maintenance of the rape at a low financial position of the Federated sheet and profit and loss account, be that we cannot farce on the receipt business is conducted I would say to see the Consul 'concerned. He was publication and therefore presumably level. The inflexible law of supply and Malay States and the Straits has approved and adopted." I will ask of those accounts more than we do that I sent some tea people round more successful than be expected for, open to comment, are too lengthy to demand, the control on the export of suficred scutely. Sommarising the Lord George Hamilton to second the inf present, and I can assure you that to see the head of his establishment on inquiry, and after considerable reproduce in full. After deploring the rice and wheat, and the absence of position of the Eastern markets resolution. badging by the Consci, the waste of time involved and declaring European demand for other Indian generally, we may say that, while
wa call the meeting and pay the the manager-and they came away simitted... that the that he has amitted hia "observations commodities, resulted in an adverse export markets mainly show very ton, G.C.S.I.:
The Rt. Hon. Lord George Hamil dividend at the earliest possible delighted, and said that whenever defendant had been registered only and protests" to the Senior Consal he balance of trade to India, and little life, import markets have im wach pleasure in seconding that that we should increase the interim certainly come to the Chartered Bank Gentlemen, I have moment. Another suggestion was the terms were equal they would two days before the petition was quotes as apt and pertinent the follow-rendered a high rate of exchange proved to the extent that accumulat-proposition.
ing remarks made by him on absolutely out of the question. This ed stocks are being gradually worked.
蟲 My partner bat another case previous occasion. "I do not much has not, however, been an unmixed off, but it would be absolute folly co questions to be asked I should like at this half-year as we do for the say that I very much appreciate the dividend. I presume that the lady of India. As a director of one of the The Chairman: If there are any forgot that we pay the same dividend oldest tea companies, I should like to within the last few days. A Chinese care," he then said, "that Assessor evil. A low rate of exchange-a the part of shippers on this side to them to be naked zow. resident had been sard in the Mixed (Le. Mr. Blackburn) ignores the rupee about Is. 4d.-has been a real pour in fresh supplies which are not Mr. Frederick Tomkinson: May I bonus. Well as you can onduratand, with respect to tea. The la 4d, first half year but we give you a remarks which you have made, sir, Cart, submitted to the jurisdiction meaning and ends of our protection blessing to the great tes industry of needed. The motto for all of us ask, Mr. Chairman, whether the that boss question and judgment was given against him. por the rights which the Foreign Indis and Ceylon, and has rendered should be "slow and sure" until the British Government securities which decided in the middle of the period, My partner was then instructed by Representatives have according to business possible in other lines of dark clouds of depression have you hold for such a large amount are when we have only worked out six accorded
csanot he rupee bas certainly been a great help. The Yote WAS another claimant. The defendant their Treaties, ror even if he ignores produce. India has had a very faveur disappeared and the purchasing power valued as at December 31 or at the months of the year. It might be,
unanimously finding things were getting too lot the purposes of these Treaties. What able southwest monsoon, good winter of consumers has attained more nearly lower prices at which you obtained you know, that the question of directors and the
The Chairman: I am sure the for him then promptly registered as a I do care and want from him is the rains in the United Provinces and the to normal levels. Spaniard so that when my partner respect Foreign Consulates deserve Punjab, and granted a resume tot
them because in that amount, of bonus" might be hung up. I esa appreciate the hearty rate of thanks staff greatly was instructed to file a petition it was and that when he has anything to do normal peaceful conditions with a
course, there is the possibility of assure you, however, that we shall do which has been so amiably proposed. of course too late. Those are a few with them to know how to keep his good southwest monsoon this year, we of the instances of what British proper place." At the risk of being may look forward to greatly improv balance sheet. I think we may con should like to say that I think all venture to state that all connected with regard to the managers, that I Turning to the figures in the show on paper. While I am standing very gracefully goes on to say: unanimously. I so bound to say, very large reserve which does not our very best for you all. Then she and which has been calzied merchante are faced with in dealing similarly rebuked, the Journal ed trade conditions in the satura gratulate ourselves that, in spite of the shareholders who are present to with the bank deserve the highest do think they deserve your grateful with Chinese debtor."
cannot but express the most profound as regards the position in India the heavy decline in the world's de day must be very glad that they came praise for the very excellent results thanks. I have not dwelt much Later in the case uzdez review Mr. astonishment at these admissions generally, I am dieposed to take the mand for raw produce and resultant here, for the speech which Siz shown." Now, gentlemen, if there upon the difficulties of the past year, L W. Hartigan sppeared in Court which would appear to ignore the main view that, provided the Government reduced volume of our Estem and Montagu Tamer has delivered is are no other remarks to be made I In speaking from an experience of and submitted the following letter point at issue, namely, that the present of Indis act consistently with firm-Far Eastern export trades, our totsi certainly lacid; clear, and very help will put the resolution. from the Spanish Consulate :-
practice allowing Chinese to throw of Dess and justice as I believe figures only show a fall of just over fal to all of us in vnderstanding theThe
some, fifteen ur sixteen years as your ---Sir, Having been informed by their Chinese nationality in order, as they will-there is no reason to view nine millions, as compared with the position and in obtaining in a small unanimously.
motion WB5 carried chairman I do not think we have Meears. Allen and Hartigar, counsel the Chambers of Commerce expressed the situation with undne appre-corresponding figures for the previous degree some light upon the working
ever passed through a more difficult, for Liang Yong-surg, that their client it last November, to evade their just hension. In all parts of the world twelve -months, namely has been wrongfully arrested by the obligations and liabilities and to East and West, even in England itself £70,932,744 158. 10d. at the end of successfully carried on during a very from of this bank, which has been so
anrions, and troubloas period that in The Chairman: I now moTE: S. M. Police and is to be brought be escape from the jurisdiction to which we see a widespread spirit of 1920, to £81,707,780 .184. 8d. at the strenuous year, and one of great December 31.last, together with a
That a dividend at the rate of 14 the past twelve months. It has been fore the Mixed Court, I have the they would otherwise be amenable, is restlessters and discontent. There is close of 1921 particularly having in difficulty. For my own part, and on bonus of 6s. 3d. per share, both free
cps. for the half-year ended period of great difficutly for the honour to inform you that Liang a thoroughly bad one: that it brings a craving for change, a desire to view the very considerable fall in behalf of many shareholders, friends
managers, and one of great strain Yung sung is registered in this Con the system of extraterritoriality into attain what is in many sulate, and that any charge against contempt and disrepute and that its unattainable, and a tendency to op changes which has taken place during I may cay that we feel deeply grateful ravable on and after the 12th inxt" dune if willingly, and with a cheerful cases Eastern and Far Eastern sterling ex- of mine, who are not able to be here, of Income-tax, he now declared their very best to you but they have hit has to be filed with this Consular Cetinuance endangers the privilege pose all existing forms of government that period Our total cash and to the managers and staffs, both here
which foreigners enjoy of being This is so aftermath of the Great ballion in hand at the close of the and abroad for what they have been much pleasure in seconding the am sure that whatever you have heart because they have such a pride Mr Thomas Cuthbertson; I have The report of the subsequent pro-exempt from Chinese law and subject War, and only time, with universal year, which amounted to £7,138,300 able to do. That, however, will be
ia the good old Chartered Bank I ceedings by the M.-C. Daily Nears only to their own-British Chamber peace and goodwill, can bring about la. 4d., represented s ratio of 27 pc. touched upon later. There is only one was as follows:
of Commerce Journal.
the contentment and good fellowship as compared with car current sc other comment I would like to make.
The motion was unanimously said in regard to staff is not more thin they deserve. Mr. Preston has adopted. Mr. Blackburn, commenting on this
which should prevail between nations count Liabilities, standing at The chairman has mentioned the much pleasure in proposing: ThatThe
Sir Duncan Carmichael: I have asked me to express his thanks letter, observed that the fact of the Plucky Boy Scouts. The follow. and between the component parts of £26,301,204 12s. 2d.; whilst, in political position, and I think he is accused being a Spanish protege diding act by boy scouts should not pass applicable to India, and I look for securities to the value of £9,432,796 chairman quite recently say that it Alexander Wallace, who now those nations. This is especially addition we held Government quite right is doing so. I heard a fontagu Cornish Tumer, and Me.
Mr. William Foot Mitchell, Sir The proceedings then terminated. not take him out of the jurisdiction annoticed. At 10 pm on May 15 two ward with confidence to the time when S. 8d., as against £3,081,090 10s. 7d. was not his mision as chairman of retire by rotation, be re-elected of the Mixed Court. Accused would boys were preparing for bed in their have to Irove that he has ceased to houses in Gutzlaff Street when two are showing that spirit of loyalty, in thus employing our surplus fands politics.. Well, in so far så politics we can say that the people of India on 31 December, 1920, and our policy bank to make any reference to be Chinese citizen, and would have shots rang out. They ran into the comradeship, and goodwill which has, by course of events, been fully outside the bank's business are to produce a certificate of denatural street. There they saw a Chinese who should exist between all members of justified. Above and beyond this concerned, I agree with him, but I much pleasure in seconding the Tolin at the moment seaming speci izamon from the Ministry of the In had been shot. They carred the British Empire. But to effect on holdings of bills of exchange, in- am entirely with ir Montage when terior. Nationality was not like a dying man to the Folice Station. The this we must have consistency in cinding Treasury Bills, amounted to ho says that the Welfare of the people suit of clothes, to be put on and off blood was pouring freely from two policy and firmness in administration 216,422,953 16s. 10d., so that our and the trade of the connay, boti of agreed to
wounds and the boys became covered I do act deny that there are troubles liquid position was most satisfactory.which are intermixed, depend upon Mr. Hartigan: He has his rights with blood. One was only 15 years at some points-serious troubles-in Oar bills discounted and loans out politics. I think he is quite right in pleasure, air, in moving: That Mr. another battle, in the expectation of Ma protege
of age and the other 17. Their names The Assessor: The rights of are Chan Bang Yan and La Hok Wai India, but they are partly agrarian standing at £22,428 851 17s. 2d, the remarks he has made, and in David Charles, Wilson and Mr. Henry big able to make capital out of the grolegs are not the rights of a citizen. This brave act would never bave been firm Govemment. The conclusion of daction of about 4p.c., as compared government will be tonintained in re-elected auditors for the ensuing on Wa Pei-fu's lines of communica. and can be dealt with by a just and against our total assets, showed a re-expressing the hope that fimm Croughton Knight Btleman be rising which has taken place in Honan He Hartigan, and if you went ector of Police at the Centrata pesco with Turkey on liberal lines, with the same perjod of last year, India for the good of that great Mr W. Grem: I haplessure different story to tall. General Chang
A American citizen, recorded had it not been that the
tions. The Simoaspao has so entirely
Court.
A
at will.
You are
"
to the Spanish Consulate cation sent for them again.
as recently outlined by Load Curzon, will also help to alleviate the present
NOW IS THE TIME.
For rheumation you will find nothing better than Chabert Fair
CHINESE TRADE CONDITIONS.
In Chins the offinke of
SATISFACTORY BALANCE-SHJET
FIGTEES.
namely, from 40 pc. to 36 pa. *
GRATIFYING INCREASE IN DEPOSITS.
Our fired deposites uksuring £16 648,155 38. la against £16,628.634 176, 44, at st Decems which, in view, even of the fall in ber, 80 1920, shows slight increase,
and got yourself registered as a Spanias citizen, do you think your own court would recognize that and allow you to evade its furisdiction Do you think the British Court would How is the time to get rid of it. Try this goods has also been interfered with
low British offener to gespeniment and see how quickly it will by extremely unsettled conditions in exchanges, is exceedingly gratifying.
because he became a Spanish by all Chemists and Blocktoepers.
teliere the sain and soreness. For me the interior of the country, and by
As regards the report, It will bw
I
motion.
directors."
الله
upon them. It has meant the giving
"The Chinese newspapers are full Mr James M. G. Prophit; I have prominent on the battlefeld, Chang of conflicting reports about the men
ally to lend himself to journalistic The resolution was unanimously treatment. According to the Shang- Mr. H. B. Henley: I have much Chang is actively preparing for
but Journal of Commerce Generi
resolution.
"The motion
You may be sure that the unrest will Dependency of ours. Without it in seconding that increase, owing to the work of the agitators, who are certainly somewhat unanimousl Flow notre rave Gandhi's melusion
it mentions, is believed to have sul- passed fered some slight mental derangement and in consegasnes is living abroad
how madjon a Japanese, ganboak His - 800,
Chang, Inch-liang, is reported in
question was as to the valuation of separate von will all desire to express have died in a hospital in Tientsin as
The Chairman, I think the only Gentimen. I think that before
Government securitishich to the chairman, the directors and a recult of wonnda, sosired at the
the itaff of this bank your thanks for fronts