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大英八月七號
禮拜三日 中華民國已巳年七月初三日
No. 27,251
HONG KONG,
WEDNESDAY, AUGUST 7, 1929,
PRICE $3.00 Per Month.
EVIDENCE - NOT
SPEECH
CHIEF JUSTICE REPROVES MR. BREWER
INSTONE BANK'S AFFAIRS
Significant Alterations In Balance Sheet
CASH AND SHARES VALUATION
Mr. Noel Instone Brewer, President of the Instone Banking Corporation, gave evidence with regard to the organisation and management of the Bank this morning before the Chief Justice, Sir Henry Gollan, K.C., at the Supreme Court. He was reproved by his Lordship on several occasions and was reminded that he was there to give evidence and not to make a speech.
The examination was closed.
HAS STIMSON MADE A SOONG "KICKS OVER "BLOODY AFFRAY”
SUGGESTION?
IN CALCUTTA
THE TRACES"
MYSTERY OF NOTE HITS BEFORE · GOING
SETTLING THE SINO-SOVIET
DISPUTE
NEGOTIATION PREFERRED
DISSATISFIED BECAUSE ARMY
FOUR DEATHS
MONEY LENDER'S SHOUTING LEADS TO SERIOUS TROUBLE
DOZENS INJURED
Calcutta, Yesterday.
A sentence shouted by a nervous
The jute stoppage extended to more mills yesterday. Over 1,000 strikers demonstrated outside a mill in the Gourepore district with the idea o dissuading the operatives from working.
WANTS TOO MUCH
SAYS "CAN'T FACE PEOPLE"
Washington, Yesterday,
Shanghai Yesterday. Officials of the U. S. State De- Mr..T. V. Soong (Minister of partment decline to comment on Finance) memorialised the Na- reports emanating from Moscow tional Government of China yes-moneylender led to a bloody affray, that Mr. H. L. Stimson (U.S. Secret- terday. He said that the present resulting in four deaths. ary of State), in a Note to the discussions of the Disbandment principal Powers, has suggested the Conference have dealt with huge,
for disbandment formation of un International Com- sums of money mssion to settle the dispute between and for future military expensos, China and Russia.
These huge sums, Mr. Soong While it is known that Mr. Stim- says, it will be his task to raise son is very anxious that He therefore summoned a confer settlement should be reached by ence of financial experts who
One of a number of Pathan direct negotiation between the two reached the unanimous conclusion parties if possible it is believed that, while the required sums can moneylenders, apparently enraged in well-informed circles
that be raised, there must be an assur- with the prospect of additional Mr. Stimson may have put ance hereafter from the Govern-strikers leading to further im- forward such a suggestion in an ment of a fully adequate Budget aide memoire he handed on July 25 system.
poverishment of their clients, Mr. Brewer was closely examin- that he sought for a method to ed by Mr. E. L. Agassiz, Official, obviate such a responsibility. Two in Washington of Great Britain, the Disbandment Conference last strikers were looting their homes.
to the diplomatic representatives Mr. Seong also pointed out that shouted to the workers that the Receiver, yesterday in connection obvious methods presented then-Japan, France, Italy, and Germany. Spring decided that military ex-
selves. The first one was only to Incidentally, the nature of this penditure
A melee followed in which knives accept 10 per cent. of the value of Note has never been
should not exceed revealed. $16,000,000 a the shares applied for, but the dis-Reuter's American Service.
month which is and clubs were freely used, advantage in this
"heavy enough." connection was An earlier cable appears on obvious in that when the bank page 3.1
A FORCEFUL SPEECH
with the operation and manage- ment of the Instone Banking Cor- poration, whose winding-up was ordered by the Supreme Court; sumé time ago.
In a forceful speech, Mr. Brewer manager arrived, he would practic- said in the witness box this morn-ally have to spend a whole month ing that he was President of the to call in the balance of the value Bank and accepted the position of of the shares applied for. The bank Managing Director for the last manager must necessarily be a high During the majority salaried man, and, witness consider- two years.
of that period, his wife had acted that a waste of money and time ed as Treasurer to the Bank.
if a whole month were spent in that way.
The Solation
No Mismanagement During his and tenure of
Mrs. Brewer's offices, there had not been a cent misapplied or unac counted
for no swollen salary paid out, no secret profits, and no annecessary expenses. In fact, the concern was run on a most economic basis and could compare favourably with any other firms operating in Hong Kong.
found that
The second method, said witness, was to cal in all the money, and deposit them with another bank. On consideration it was method would also be a wanton waste, because in so doing, the Bank would lose the interest which the money would have earned,
On considering the matter fur-
The reason why he laboured! this point was that he wanted to ther, a third method manifested it-
of the a most
show that the business Bank was conducted in honest and thoroughly efficient
manner.
self. That method was to call in all the money and permitting share- holders to re-borrow it in such a way that when the bank manager ar- rived, he could call it in. It would thus prevent the Bank from losing the interest on the money.
The money would then be treated in this way-when shares to the value of $10,000 was applied for, only $1,000 would be taken as pay- ment of 10 per cent. for the shares, and the balance of $9,000 would be considered as a depozit with the
Bank.
BOMB OUTSIDE THEATRE
Famous Hong Kong Matinee
Idol Injured
Ma Shee-tsang, the highest paid actor of all time on the Cantonese stage, was the vic- tim of a bomb incident last night, such attempts to assas- sinate actors having proved by no means rare in Kwangtung and Hong Kong.
This idol of matinee andi- ences of Hong Kong and Can. ton, who is famous for his melodramatic and light comedy portrayals, was leaving (after the night performance) the Hoi Chu Theatre, opposite Dutch Folly Island, on the Central Bund, Canton, at about mid- night last night when a bomb was thrown at him.
He was injured in the leg and five passers-by were also injured. The assailant escaped.
His salary is over $60,000 a year and the takings of his troupe have often exceeded $3,000 a night.' -
GRAF ZEPPELIN "
HAZARDOUS WORLD FLIGHT
Sorely-Tried People "But," Mr. Soohg adds, Fab- serving the tendency of the pre- sent Conference, it seems to me that the monthly military expen diture will undoubtedly, be far in excess of the sum get as a maxi mum."
It is Mr. Soong's opinion, Minister of Finance, that if the
да
Studied in America Continuing Mr. Brewer said that the object was to form a Trustee Bank. He had studied the system thoroughly in America.
In the organisation of the Bank
was entered an agreement
into which stipulated, among other things, that certain contracts were to be purchased for "eash." In explanation, witness said, the rea- son why he had insisted on cash
The Balance Sheet was because directors were inclin-
Witness added that, in everything ed to be lavish with shares and, he did, he applied the test question that being so, a proper valuation to himself--What was the intention could not be arrived at
of the partners and by answering Witness also said that he was the question in a satisfactory man- directly responsible for the book-ner, the matter as how to act was
THE "SIBERIAN WASTES" keeping-not that he actually did made clear to him. the entering, but generally direct-
Lakehurst, N.Y., Yesterday. ed how the books were to be kept..
The "Graf Zeppelin" is scheduled What They Do in America one. It was a perfectly accurate to leave at midnight on Aug. 7 with Touching upon the capital of statement of accounts, with an error 18 passengers who include Princess the Bank, witness said that before which any · reasonable could Xenia's husband, Mr. W. B. Leeds the formation, he was asked by have detected. That error was in (the multi-millionaire), intending shareholders as to what connection with branch items, which Comdr. Eckenor, daterviewed, said capital would be required. He in the ordinary course of book the most hazardous part of the said that in America
keeping should have cancelled itself world flight would be over the Reuter. by a cross entry.
Siberian wastes between Moscow |
Talking of the balance sheet, wit- nese said that he had only signed
man
ARRANGED
Mr. T. V. Soong
limit is not adhered to, there is no hope of effecting a national Budget, with the result that order ly development of the nation will be impossible,
Marriage Ties
Dozens were seriously injured and 54 arrests were effected-Reuter.
OCCASIONAL RAIN
This morning's weather re- port from the Royal Observa- tory states:
Pressure is highest in the Pacific to the east of Japan. Depressions remain over Tong- king and the south-east of Loo- choos. The northern depres sion has moved eastward to Korea.
Forecast:- S. от variable winds, moderate; cloudy gen-
rally; occasional rain:
The American Consulate. General has received the tele- gram quoted below from the Manila Observatory:~~
11.30 am..—
August 7, Typhoon in about 127 degrees Long. E, and 19 Lat. N., almost stationary.
To-day's rainfall 0.64 inch 1929 Rainfall .41.64 inches Average .55.01 inches Deficit
13.37 inches
DON'T WASTE WATER !
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ACTION FOLLOWS LOSS OF
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BRITAIN AND EGYPT
TERMS OF PROPOSED TREATY
NO MILITARY OCCUPATION
Sufficient British Troops For Canal
VALID FOR 25 YEARS
The Foreign Office has issued its proposals for an Anglo- Egyptian Treaty, consisting of sixteen short clauses. The treaty will be valid for 25 years.
Its terms provide that British military occupation of Egypt shall be terminated, but sufficient British forces necessary to protect the Suez Canal are to remain in a specified area east of longitude 32.
Ambassadors will be appointed in London and Cairo, and an Anglo-Egyptian alliance established, including active support in the event of war. Responsibility for lives and property of foreigners in Egypt devolves upon the Egyptian Government, and the jurisdic- tion of Consular courts will be transferred to Mixed Tribunals. For- eigners will be subject to Egyptian legislation.
DETAILS OF TREATY
London. Yesterday.
League Covenant and of any other On Wednesday, August 7, the national obligations applicable to text will be issued of proposals to the case. achieve a lasting and honourable 5. Each of the high contracting settlement of questions outstand- | parties undertakes not to adopt, in ing between Great Britain and foreign countries, an attitude which Egypt, which were submitted by is inconsistent with the Alliance or will create difficulties for the Mr. A. Henderson to the Egyptian
other party thereto. Premier on August 3.
In pursuance Mr. Henderson, in a covering Note to the Egyptian Premier says:
"The proposals, together with explanatory notes to be exchang- ed on matters of detail, which Your Excellency is about to sub- mit to Egyptian Parliament, re- 6. His Britannic Majesty recog- present the extreme limit to which nises that the responsibility for the I could recommend His Majesty's lives or property of foreigners in Government in the United King Egypt devolves henceforth upon dom of Great Britain and North- the Egyptian Government and the ern Ireland to go in their desire King of Egypt will ensure the fulfil- to achieve a lasting and honour- ment of his obligatione in this res- able settlement of the outstand-pect.
of this undertaking they will not oppose each others' policy in for- eign countries nor conclude with a third power any agreement of a political character which might be prejudicial to the interests of the other party.
ing questions, between Great Bri- 7. Should, notwithstanding the tain and Egypt. It is the earnest provisions of Paragraph 4, either hope of His Majesty's Government of the high contracting parties be- that patriotic Egyptians will come engaged in war the other high examine this proposal in the same contracting party will immediately friendly and conciliatory spirit! come to his aid in the capacity of which has characterised our really. In particular, the King of cent conversation and will fix Egypt will, in the event of war or things on a satisfactory base for menace of war, furnish to His Bri- the relations between our respec- tannic Majesty on Egyptian terri- tive countries. If this should be fory all facilities and assistance in the verdict of the newly elect his power, including the use of ed Egyptian Parliament, His aerodromes and means of communi- Majesty's Government, for their cation. part, will immediately submit pro- posals to Parliament with a view A to the conclusive ratification of the Treaty and the carrying them into effect."
8. In view of the desirability of identity in training and of the British armies the King of Egypt undertakes that should he deem it necessary to have recourse to the formation of military Instructors Egyptian Note: Mohammed Pasha, in a Note these shall be chosen from British
9. In
acknowledging the receipt of the subjects to facilitato
pose.
The presence of these forces shall
New York, Yesterday. An action for damages to the extent proposale says:
order to and If the reduction of military ex
of $75,000 has been brought against penditure and the operation of a Lampet, Holt, Ltd., arising from the represent the extreme limit to Canal as an essential means of com "I realise that these proposals secure the protection of the Suez Budget system
be not enforced sinking of the 3.B Mr. Soong concluded, it becomes in
Vestris," which you could recommend His munication between different parts the State Supreme impossible for him to face the on behalf of the husband and four go, and, for my part, I am pre- Egypt authorises His Britannic Court, Britannic Majesty's Government to the British Empire, the King of sorely-tried people; and he, ac children of Mrs. Trish Johnson, ย cordingly, submits his resignation negrets, who
pared to submit them to the Majesty to maintain upon Egyptian wab lost with the "Vestris," Reuter's American Ser-Egyptian people and Parliament territory, in localities to be agreed vice. His Lordship then interrupted
[An earlier cable on his resigna-
in the sincere belief that their ac- upon cast of Longitude 32 degrees, witness and told him that it did During his. absence another and Tokyo, where radio would be tion is on page 3.]
ceptance would be in the beat in such forces as Hie Britannic Majes- not matter what they did in balance sheet was drawn up by the useless. In view of the inadequate
The English system of cross-earnest hope of His Britannic
terests of my country. I have the ty considers necessary for the pur- America. He was there to give auditor. There were significant maps, Eckener will rely upon the
examining witnesses in criminal Majesty's Government that these evidence and not to make a alterations in the later balance courses of the great rivers in the speech
sheet. It was, however, submitted Russo-Astatic plains. Reater's openly that he does not see eye to for the first time in the German patriotic Egyptians, without discupation and will in no way pre- This means that Mr. Soong say proceedings was recently adopted proposals will be examined by a not constitute, in any manner, oc- Continuing, witness said that he to the directors and passed - American Service.
eye with Marshal Chiang Kai-shek courts. had been asked if the capital was animously. Before he had seen this
who, besides being President of
tinction of party in the нате Inadequate, and he had given as balance sheet, it had already receiv
the State Council, has the high
friendly and conciliatory spirit in his opinion that many banks in ed its full share of publicity. It
est power over the Army by virtue
which they have been conceived America had capitals less than had been circulated.
of being Commander-in-Chief: the
and discussed by us and that they ether hand, Berved to Gold $25,000. It was his idea to
Was He Justified?
Marshal Chiang
make will be found to embody a satisfac- married Mr Chiang Kai-shek's Government more Soong's sister, the present "first hated and feared than capitalise the business with Mex He had to use his discretion as to
any of the tory basis for the future relations $50,000. His estimate was, how whether he was justified in recall-
lady of the land." The late Dr short-lived rulers whom the people between our respective countries. Cognises that the capitulatory re- ever, increased by the cost of the ing that balance sheet or to leave PAGEANT IN THUNDERSTORM Sun Yat-sen married another, who have endured since the Revolution...It is in this spirit and with this gime now existing in Egypt is no
"Everywhere the" the
pitiful story is hope that I take back these prolonger in accordance with the spirit e same: predatory officials, political
of the times and with the present freebooters, boycotters, and military posals to the Egyptian people."
state of Egypt and, accordingly, villagers, all busily engaged in fes- The Proposals thering their own nests and, by their
udertakes to use all his influenca with the Powers possessing capitala- and farmers" tolerable burdens of the merchants
ditions which will safeguard the exactions, adding to the already in-
tory rights in Egypt to obtain con
transfer to anixed tribunals of legitimate interests of foreigners,
building, which eventually madě the capital to $150,000. His Direc tors desired a bigger capital, and witness subsequently agreed to the proposal, and incorporated the company at a large authorised capital
Perturbed by Too Much Money
Mr. Brewer said, in explanation, that his acquiescence to a bigger
idea of engaging an experienced
it stand,
Witness added that his personal
THE JAMBOREE
SCOUTS HEALTH GENERALLY EXCELLENT
London, Yesterday.
interest rested on having that The chief medical officer at the balance sheet withdrawn, because Jamboree, in a statement to Reu there was, on or about that time, an ter, said that in spite of most attempt made by a syndicate to ac- unfavourable weather, the general quire shares in the Instone Bank health of the Boy Scouts was ex- This syndicate had believed that the cellent. Only two had mild cases statement of account, as shown in of infectious disease since the the frat balance sheet, to which he camp opened, both contracted be
The syndicate would not be con-medical and surgical cases treat
has also been “first lady of this land." Dr. H. II. Kung, Minister of Industry & Commerce, married yet another sister of Mr. Suong. Bland wrote pertinently in a Home Several weeks ago, Mr. J. O. P.
paper about the dictatorship under
Mr. Seong's "kicking over the the guise of maintaining unity
traces is tremendously significant
Army To Be Reduced
Nanking, To-day,
The proposals are as follows! Egypt by British forces is termin- 1. The military occupation of
ated.
2. An alliance is established be tween high contracting parties in
judice the sovereignty of Egypt.
10. The Egyptian Government, when engaging the service of for- eign officials will as a rule engage British subjects.
11. His Britannic Majesty re-
said Mr. Bind the Disbandment Conference Mar cordial understanding and good Courts and the application of In a speech at the closing of consideration of their friendship, jurisdiction of the existing Consul er ahal Chiang Kai-shek estimated relations
Egyptian legislation to foreigners.
capital was because he had the had attested his signature, was true. fore their arrival. The minor There was never any that the army totalled two mil 3, Egypt, being anxious to be. 12. His Britannic Majesty, will bank manager to run an exchange vinced after seeing the second ed in hospital were remarkably fustification for the assumption thaiona The conference decided to eprie a member of the League of be represented at the Court of the
bank in addition to the trustee businesa. He had, however in sisted that the capital was not to
"be too excessive,
balance sheet.
low
ho Kuomintang politicians were pas
sessed of any, qualities, or moved by reduce it to 800,000.
tical
Decided to Let it Stand
Nations, will preserve, in the con- King of Egypt by an Ambassador, A pareant was carried out in any incentives to distinguish them Marshal Chiang Kai-shek point ditions prescribed by Article One duly accredited, and the King of By withdrawing the balance sheet, the arena this afternoon, in spite from the other bundit rulers and polled out that China's revenue totals of the Covenant, a request for ad- Egypt will reserve the highest It would work a greater hurt to the of a thunderstorm and torrential
nturers who have brong $450,000,000 of which $100,000,000 mission to the League, which His diplomatic ranks at his Court to the company, and unless there was a rain. Renter able
_their_
good reason for its
te
When application arrived for about $2,000,000 worth of shares, he was much perturbed, because decided Let it stand the experienced, bank mangger he been advised by the looked forward to did not arrive whom the Gover and he had to be responsible for tered as competer
Not UnwDling to Accept tomary for the Not being unwilling to docent such
money witness said.
He had also
regis.
COTTON DISPUTE
PRIME MINISTER ASKS FOR A REPORT
which
(Continued on Pane B.)
Landon Yesterday ascow. Rembay MacDonald han called for a report on the cotton diapate-Reuter
present laizert-
that they
was earmarked for repayment of Britannic Majesty undertakes to representatives of Is Britannic ges over the the nation
debta. The army support. perior or a minimum
For including
ught them betion was
scalemona
$306,000,000, not Should any dispute with a
The King of Egypt will be repre- rdinary expendi third State produce a situation in- sented at the Court of St. James's.
radical redue volving the risk of rupture with be an Ambassador. only way to save that State, the high contracting 18. While reserving the liberty ruptcy. Even parties will concert together with a to conclude new conventions in the 300,000 mil view to a settlement of the sald future, modifed on the Conventions. ould total 60 dispute by peaceful means, in sc
of the revenge-Reuter cordance with the provisions of the
(Continued on Page 9.)