VICTOR CYLINDER HEAD GASKETS: We carry an ample stock of these "for Dodge Brothers takland, Oldsmobile, › cripps- Booth, Maxwell Ford, Chevro- let, Marmon, Hudson, Blgin, Grant Six, Elupmobile, sex, Briscoe, Cleveland, Jewett, Buick, Chandler, verland and. Paige Motor (818,
THE DRAGON MOTOR CAR Co. Ltd
The
China Mail
STABLISHED
STANDARD
VALUES
AT
WHITEAWAY'S
THE
"TABLOO" OLOOK
A neat little clock in marble
and &$
similar to
shape
Illustration. Good timepiece.
$3.50 each
The
"CUB
Fountain
Pen
25 cts.
oach.
The
Pointed
Ready
Sharp
Pencil
50 cts.
esch
וי
HUNDREDS OF
NOVELTIES
NOW ON VIEW,
SIEEL
ASPHALT
ROBERTSON'S
ASBESTOS
PROTECTED
Solp Agnata:
No. 19,630
HONGKONG, THURSDAY, OCTOBER 22, 1925.
"UNSOUND DEALINGS”
LOCAL STOCKS AND SHARES SYSTEM.
COMMISSION'S FINDINGS.
Legislative
Control Not Recommended.
Legislation to deal with the situation is not recommended by the Stock and Shares Commission, the report of which was laid upon the table at to-day's meeting of the Legislative Council,
suspended; or even censured for failing to meet his obligations.
...
serious 'consequences,"
-Over-Financing.
more
NOT FIT TO DRIVE.
EUROPEAN MOTORIST'S
RASHNESS...
INTOXICATED."
LAST NIGHT'S PEDDËR STREET INCIDENT.
PRICE, $3.00 Per Month.
"GOING SLOW.”
.
LAZARUS
MEETING COLONY'S PRESENT NEEDS.
UNOFFICIALS VIEWS.
Advisable.
Qualified Eyesight Testing with Modern Equipment.
12, Queen's Road Central,
Too Drastic Cuts Not
The Unofficial members of the Legislative Council to-day paid Having been found in an intribute to the able manner in which His Excellency the Governor toxicated condition while in charge
called upon to shower when he
not in a fit state to drive. At that
He could not see, said
One of the most interesting suggestions made by Mr. Bird was that free grants of land should be made in the New Territory for experimental farming in order that the Colony might be less dependent on others for our fresh food supply,
MR: HOLYOAK'S SPEECH.
After the Colonial Secretary had moved the second reading of the budget Bill. the Hon. Mr. P. H.
Your Excellency. It will per-
services of the police force during the trying period through which we have passed and would asso- clate with them. both the police reserve and the Volunteers, not forgetting the wonderful volun- tary service, rendered by a very
and foreign munity, Chinese
In view of difficulties involved in amalgamation, the Commission
Hongkong has been called upon to prepare." does not recommend the limitation of Exchanges to one. The obvious of a motor cycle in Pedder Street had presented "one of the most difficult budgets that a Governor of remedy is considered to be the reorganisation of Exchanges by their was a charge which a Europea. Whilst fully appreciating the wisdom of "going slow for the members by amefiling and adding to rules and strictly enforcing named Andrew mith, who had time being. It is the expressed opinion of the Unofficials that too had been no recent case of a member of any Exchange being expelled,ment of a locim Company, was the Hon. Mr. H. W Bird, that the financial situation was such as The members of the Commission "have reason to believe that appeared in the dock before Mr. to necessitate the applying of, the axe to works which are urgently. Fadded Mr. Bird, "but we have not been knocked out or even the share market has been carrying on its business for some time. 4. D. Forrest at the Central required. The Colony has been most foully struck below the belt Fast on a thoroughly unsound basis and, ever if the financial crisis Mistracy this morning.
Sub-Inspector W. Spear said nearly so." had not taken place on the 22nd June, the time was bound to come in.
that the fendant left the Hong- any case when a general slump in the market would have had very kong Hotel at about 17.30 pm. yesterday and, mounted his cycle on the Pedder Street stand. reason why it should be Sergeant Nicoll, who happened to After reviewing the growth of aimed at dealings in stocks and be near. had noticed defendant's the three Exchanges and their shares than at dealings in any unsteady gait and told him he was other commodity. Speculation rules, the causes for the large takes place in many other things moment two Europeans walked up increase in speculative operations besides stocks and shares, and of to the Sergeant and informed him are referred to, this being attri can instance the great amount of that earlier in the evening the Holyoak said:
speculation which takes place here defendant had been seen on that buted to the influx of Chinese and elsewhere when times are op- portion of Pedder Street going up haps be useful in discussing the large section of the entire com money owing to interior distur-portune in various commodities bances, and the consequent cheap- and also in the currencies of for, and down on the wrong side of the draft.estimates of evenue and alike to maintain the essential! eign countries.. The soundness road. They were present in Court expenditure for 1926, if in the ness of money. The balance sheets of this view is borne out by the and prepared to give evidence. He first place I deal with your Excel-services and normal life of the colony-indeed thanks to the of many local companies reflected fact that none of the world's big asked His Worship to take a very lency's speech introducing the united efforts of all, sO normal a certain amount of real prosperity stock exchanges are governed by serious view of the case as it was budget before discussing in detail
such points as appear to us to call casual eve that visitors arriving have things been kept to the Pleading guilty to the charge of for further explanation or special in the colony have failed to realise. leading to higher value of shares lexislation but by rules made a dangerous practice. but in many cases prices of shares binding by them upon their mem-intoxication, defendant said that reference.
bess and very rigidly enforced in:
at first, that there was anything- had risen beyond a figure justified. Forder that the reputation of the he was very sorry, and asked for To commerce with, we should abnormal. Nor would I pass from
The causes of the collapse of the particular exchange
leniency, she intended to leave like to congratulate you, sir, on this subject without a sincere and be may market in June were the follow-upheld.
the Colony for good on Saturday. the extremely able and compre- cordial tribute to the magnificent Ting:-
The obvious remedy then for
His Worship pointed out to the hensive survey of the past year and heroic services rendered by the present state of affairs in defendant the Pashness of his act and the present situation, as well the fire brigade and the police, as with unsound clients."
Hongkong is the re-organisation and the danger it involved to as upon the statesmanlike budget well as by the St. John's of the Exchanges by their mem- pedestrians and traffic. A fine of ting which we have learned from ambulance brigade during the bers by amending and adding to$75 was imposed.
|successive budgets, to expect from horrors of the recent Po "Hing
Whilst sympathising with Fong collapse. their rules and, above all, by en-
the difficulties of attempting any forcing strictly those rules when "they are made; If the members
accante forecast for the coming will not do this
as naturally been a re- dias legislation to enact rules which would be binding on every association of sharebrokers whether incorpor- ated or not. fortes certain terms upon parties, Legislation which whether they wish to have them Tuesday,. or not, is not uncommon.
For solemnised Harter Aet, in Hendry,
Dealing by unsound brokers Dealing by unsound brokers
with sound clients.
Over-financing by native banks who.. we are informed were in the habit of advancing up to 80 per cent, or 90 per cents of the market value of the shares. Even 100 per cent. has been mentioned.
i
LOCAL EDDING.
HENDRY RIVE.
the wedding
the
you.
1J
Police Visitations. We regret the necessary, post-
HENRY HEATH
HATS
By reason of their quiet. distinction, comfort and wearing qualities, Henry Heath Hals are the choice
the
well dressed man..
of
There is a Henry Heath Hat, correct in avery detail and material, for every occasioa a complement
to the smartest tallering...
THE TYROL'
Finest, fur felr, adaptable to ang shape" of brim which is unbound: in buffs and greys.
HONGKONG AGENTS:
MACKINTOSH
& CO., LTD. Men's Wear Specialists.
Alexandra Building.
Des Voeux Road.
AIR PRICES RESH STOCK
INE QUALITY AITHFUL SERVICES
salutary and wholesome effect TABAQUERIA FILIPINA.
r that for the present, ponement of the work on the new the right conse isto prison on the Kowloon side and diten mama thức cónto hope in the meantime that the crease income and that fier 123alidesble, weduction crime and The general apprehension felt by the Chinese community us to
fore you do not think it necessary- therefore Sele Page the accom-- At St. Joseph's Church on to provide for additional directmodation of our present prison the probable effect of the
wastaxation for the present."
will continue to be experienced. We threatened strike and a boycott
In this connection there can be of Mr. Morrison were glad to hear from your little doubt that the recent house. on the prosperity of Hongkong, instance the
Works Department, Excellency that the Colony's At the last moment occurred the America, the Sea Carriage of Chinese, Maritime Customs.revenue is already showing signs to house visitations of the police moratorium granted to the native Goods Act, 1904, in Australia, Shanghai, and Miss Mabel Rose of improvement.
and military have had a most banks. the closing of the Stock and the Carriage of Goods by Sex Rive, younger daughter of We most fully endorse your Exchange, the postponement of Act, 1924, in England ail incor-late Mr. John Heller and Mrs. Excellency's statement that "you and we suggest that these might the Settlement and the sudden porate certain clauses in bills of Rive, of St. Helier, Jersey, Chan- cannot believe that the intelligent on, from time to time.
be, with advantage, still carried, withdrawal of the extensive creditlading whether the parties wish nel Islanda.
people of Kwangtunga race facilities which had hitherto to have them or not. Such legis-
I welcome news that the Mr. D. H. Banner of Messrs.which has been famous for cen existed.
lation should, however, only be a Butterfield and Swire was "best turies for commercial ability and new Kowloon hospital is to be At the same, time we are of last resort, as rules adopted and man" and Miss Tassels, sister of practical sense can be content opened at last and that the equal- opinion that if the first two adhered to by an Exchange itself Mrs. C. M. Heanley, was brides much longer to put up with the delayed Sayingpun school is factors, (a) and (b), had not been have far greater elasticity.
oppression of régime imposed within sight of being opened! A reception was subsequently from present the results would not have
With regard to the postpone- And support- been nearly so serious and would
held at Mount View, Victoria ed by mercenaries. from ment of some portion of the pubfic. not have affected so large a num
Road, Pokfulam, the residence of other
provinces,"
we, works which it was intended to Mr. T. W. Dye, local manager of too. ber of persons.
believe that the tradicarry on, and more especially. Messrs. Trollope and Colls (Far tional sound. common sen road improvements and develop- of the people of Kwangtung, asments, whilst fully appreciating well as the old-time deeply sincere. the wisdom of "going slow"" for friendship between the Cantonese the time being, it is our opinion officials and people and the Bri-that too drastic cuts are not.ad- tish Government and its citizens visable or necessary and that residing in Hongkong and Ching sufficient work should anyhow be must before long re-assert them-continued to justify the carrying selves and conditions become on of your present staffs, unless once more normal for them and there are clear indications of Fus.
departments being seriously over- staffed.
Mal-Administration.
Prétection For Public.
The present administration of the Exchanges appears to need at tention in respect of revision of the Articles of Association.. These are the rules under, which the Exchanges are governed. Exchange might with advantage study the
Each
rules of the London
maid.
East) Ltd.
CANTON. NOTES.
REGULARS ROUTED BY MERCHANTS.
STRIKERS' PERMITS.
outside
and.
avi,"wewl6, 4*
AUTUMN
BUTTERICK
FASHION BOOK
NOW ARRIVED
LEE YEE
„No. 12, D'Aguilar Street,
HONGKONG.
Stating that the Commission is of opinion that the various exchanges have not been proper- ly managed and administered the report makes many criticisms. It Stock Exchange. A large num
ber of these are not applicable to is their opinion", that powers possessed by them have not been local conditions, but there are exercised by the committees of others which certainly should be Exchanges. Members have been adopted here bearing in mind that allowed to trade who were known they not only ensure that all deal-
Canton soldiers under General It is perhaps fitting at this to be 'insolvent. From the evid-ings with or between members
Water Schemes. ence of a former, Vice-Chairman shall be free from fraud or dis-Li Fook-lam of Honam are stated stage to express the fervent hope!
Whilst upon this subject I may of the Sharebrokers' Association, honesty but also provide a very to have been defeated by Mer-that the conferences about to com also other observations, it appear valuable protection to the public. chants' Volunteers ("Man Tuen") mence in Peking will materially add that we are in agreement ed that it was the practice for exhaustive summary of the rules enter the district.
Without attempting to make an at Kaukong when attempting to assist in reinstating normal re- with the principle of staff reduc
lations with China. insolvent brokers to carry on in question the following are sug-
tions where possible, but not at Permits from the strikers to!! Turning new to the details of the expense of sending Home DO business providing promissory notes were given and the effect of gested as particularly important: leave Canton for Hongkong and the Budget, we note for the first qualified staff officers, who within Candidates for admission must Macao will be issued as usual as time that all junior clerks now 12 months, might have to be in- these notes was to undermine the be recommended by three persone from October 20, stated the "Wah come under the definite heading of dented for again, and we are atability of the market,
Junior Clerical Service. Whilst sufficiently optimistic of the Reckless guarantées which of reputation who will say that T, Yat Po."
appreciating the explanation that future of this colony to believe brokers appeared to have under-the individual is fit to be a broker.
this has been done for the sake of that you are justified in, taking a
if they lost.
The failure of brokers to notify A member may not transact where they have been dealing as business for a principal who to principals is condemned as con-his knowledge is in default to RAVIE, BOAG & CO. LTD. ducive to greater speculation than another member unless such prin- the broker can afford. It would cipal shall have made a satisfac geem that brokerage had. even tory arrangement with his cred-f been charged in such cases.
tors
METAL ROOFING taken are also referred to. They In London there is a pecuniary Hu Han-min, the former Can-economy in time and labour, we risk in this connection. We had dealt in many cases with per-obligation on those who recom-ton Foreign Commissioner has are not fully satisfied that it is should like to be assured that the sons who obviously could not paymend a candidate.
reached. Moscow where he spoke not preferable to debit these water schemes in view will be Defaulting Members. at the "Sun Wen (Sun Yat-sen) salaries to the various depart-pressed forward and especially University-Wah Tsz Yat Poments concerned, that we may that the mechanical filters at There is little appreciable cost of running each department, but installed at the earliest arrive at definite knowledge of the Bowen Road will not be dropped change to-day in the quoration lat
moment, in order that we may Brokers Society of Hongkong, as We note that de substantial ence similar to that already Bain- A Retrograde Step? issued by the Share & Real Estate.
have the benefit of proved experi compared with yesterday,
saving, estimated at $44,000 is to ed in the Talkoo Sugar Refinery, be made by the aandonment of And we shall be glad to know the "Statistical Department" of whether they have been definitely the Imports and Exports Office, prdered, and if so, what, system and I have been asked to make re has been adopted? presentations that this would be Milltary Lands. the event of trouble a very retrogressive wep and that we have noted both from the
It should be avoided if at all
Bank of Cantou Weldag,
qlar asil particulare on application.
ALBANERJEES -
Hankow
With regard to later events the A member unable to fulfil his report comments that since the engagements shall be publicly A cable to the crisis of June no systematic en- declared a defamiter, and thereby are proceeding
Po" states that quiry had been held by any of the ceases to be a member. [De- Exchanges into the conduct of faulters, may, however be re-elect-
River to members and no one had been cene if they make good their sured. The advisability of keep default] ing the Exchanges closed for a long period is considered by the Commission to be unfair to the general body of the public,
No Legislation?
dificult to den tustion by legislating!
the
the
(Continued on Page 7.)
Taz T
possible. Personally speaking, 1 estimates and from your own cannot imagine why this parti speech, air, that no pre
been made in connect
cular department has
toved so
sive to run hitherto, snd poyisioning
bly upon reconsidering the!! lishments a zer it may be found that it
tantly been
carried on though a Secretary of
most cordially endorse yours
deletion of the zealous
Colodies that we
LEE KEE
Agent fon
HENRY RICHARD TILE CO'S