THE
ROBINSON
PIANO CO.
NEW
PIANOS
$375.
SUPERIOR TO MOST OTHERS AND THE ONLY PIANOS MADE IN HONGKONG
FOR THE CLIMATE
OF HONGKONG.
CREDIT SYSTEM
IF REQUIRED.
IMPORTED
IN
BANKS
NTERNATIONAL BANKIN CORPORATION,
CAPITAL
AND
THE HONGKONG DAILY PRESĖ, THURSDAY, OCTOBER 26TH, 1905,
Fiscal Agente of the United States in China the Philippine Islands and the Republie of Pannina,
SURPLUS
...Gold $10,000,000 AUTHORISED... ་་ན་ CAPITAL PAID UP... ......Gold $3,250,000 RESERVE FUND ***Gold $3,250,000 HEAD OFFICE: Now York. LONDON OFFICE: Threadneedle House, E.C. Branches and Agents all over the World. LONDON. BANKERS. NATIONAL PROVINCIAL BANK OF ENGLAND LIXITED, UNION OF LONDON AND SMITH'S BANK, LIMITED,
BRITISH LINEN COMPANY BANK The Corporation trapeacts every description of Banking and Exchange business, receives money in Current Account and accepts Fixed Deposits at the following rates:-
For 12 months 4 per cent. per senam.
31
+
"
19
3
3
#
"H. PINCKNEY, Manager. 9Queen's Road, Central,
2401 Hongkong, 20th September, 1905.
CHARTERED BANK OF INDIA
PIANOS THE AUSTRALIA AND CHINA.
.AT
HOME PRICES.
STEINWAY,
BECHSTEIN.
HAAKE.
WINKELMANN,
KRAUSS.
HOPKINSON,
BABY
GRANDS
AT PRICES OF COTTAGES, AND
OCCUPYING SAME SPACE.
THE APOLLO PIANOLA, $350.
1,000 NEWEST VICTOR RECORDS
ND
TALKING MACHINES.
Hougkong. 17th October, 1905.
12055
NOTICE TO KOWLOON RESIDENTS
XTRA COPIES of Daily Prese are on le daily at Mr. H. BUTTONJEE'S KOWLOON STORE, No. 36, Elgin Road and Mr. AH YAU'S FERRY WHARF STALL.
Hongkong, 22nd December, 1903.
BANKS
DHUTSCH-ASIATISCHE BANK.
AUTHORISED CAPITAL.......BU. Taels 7,500,00:-
HEAD OFFICE-SHANGHAL.
·BOARD OF DIRECTOR, BERLIN.
BRANCHES !
NCORPORATED BY ROYAL CHARTER, 1952 HEAD OFFICE-LONDON.
SHARE. LIABILITY OF
CAPITAL PAID-UP................... RESERVE
HOLDERS..... RESERVE FUND.
2500,000 £800,000 2875,000 INTEREST allowed on Current Account at the rate of 2', per exam on the Daily balancer, On Fixed Deposits for 12 months 4 per cent
$1
AN IMPERIAL TELEGRAPH-
SYSTEM.
to the establishment of a single trunk-line gird ling the Empire. Witczo private lines intereset, those would bacono in effect branches of the trank line and would benefit the vast increńze
by of traffic which the latter would stimulate by means of low rates. The schemo involves the
MAMÁT
The fanation of an Imperial cable system is twofold. In the first place there is the con it is important that the circuit round the globe the telegraphs are still in private hands, and of an Atlantic cable. In the other direction the Hideration, of naval defence. In this connection acquisition of a land line across Canada, where should be complete, effording means of com-
next link would be a line from Australia to the munication either coatwards or westwards, so as to reines the risks of interruption in war. Cape. When the existing line was being Also the mouth unst be "all red," not touching proposed by the Eastern Extension Company, The second great aa nusuccessful effort was made by Imperialsts object is to affect a sweeping reduction to obtain the insertion of a classe sporitically any foreign territory.
whon Empire, providing for purchase by the State. Suck A clause was inserted by the American Gobarsment in the concession for a cable from without strict regard to the direct profit of rates throughout the
San Francisco to Manila, which was d or loss. The Imperial telegraph ought not
about the same time. But in England laisser to be judged as a dividend payor, my more festion will
to injure was still enthroned, and tin oraission of than the Imperial navy. Its
clause will create trouble which might lie in the indirect results not compna.. cash, but far outweighing any possibly comREF= eint loss on the operation of the system. For hate her worded. From the Capo a new be example, the fullest development of Imperial deep-water line would be laid via Ascen trade is not a matlar sliply of re-adjusting ion, the West lies and Bermuda, with It has graphic communication than obtains outside the connected by a branch from Coous Island, tariffs bat postulates in addition cheaper tele-a branch to Canada Indi would
Cape Australia gestion. Empire. Again, the attempt to premota ea.
Adation of *mest operation amongst partuor States in anydergarten calculate by experts that such a trunk pient of national life is fraught with risk neless system would permit an enormous re the widely separated demaceracies can to kept the prevailing cales, and alan the establis saliciently in touch with each other through of a really cheap Press-service between the For example, the agency of the Press. The South Africas partner-States, without
as the
crisis of 1889 and the fiuent controversy of the Eufficiency of the revenue roving the self-
past two years have furnished instapes of the ralunderstandings which are apt to arize from the indirect or too costly cable services.
in the current number of the Empire Review, Six Sandford Fleming says that the Pacifio cable, working only half the time, could cover expenses
prospects of successfully treating tion by elargig only 104. por word instead of 3,
CASE WAY.
iron this country to the empty territories of the Empire, rather than toward foreign nuds would be greatly improved weren cable message no longer a luxury beyond the means of the ordinary emigrant. Finally, the Imperial telegraph will play its part in the progressive social policy which the settere democracies of the Fupir verally are pursing, each in its
way. No one will deny that the accumul ting experience, for example, of New Zealand and Australia in sel teatters as O'd Age Penisas Industrial Arbitration, Laud Nation- alisation, or temperance gislation or of Canada in agricultural development or citizen soldiering is not less important to the narrowest Little Finglauder than street riots in Ramis or the Kaiser's latest éccentricity. But in an age Hongkong, 18th May, 1965.
when news mst be fresh, if it is to be widely THE OKOHAMA SPECIE BANK read, there can arise no compatriotism of domestic reformers until the daily tali-gram supersedes' the monthly letter throughout the Empire.
ST
8 3
"T. P. COCHRANE,
Manager.
29
YOKOR LIMITED.
ESTABLISHED 1880.
CAPITAL SUBSCRIEND CABITAL PAID-UP .................. CAPITAL UNGALLED RESERVA FUND...«om
12
#1
Ten 24,000,000 18,000,000 6,000,000 9,940,000
HEAD OFFICE-YOKOHAMA.
BRANCHES AND AGENCIES.
Tokyo
Osaka
London
San Francisco
Shanghai
Daluy
Port Arthur
Kobe
Nagasaki Lyons New York Konolulu Bombay Tientsin
Nowchwang Peking Mukden
Chetno
Tie-ling
LONDON BANKERS,
THE LONDON JOINT STOCH BANK, LIMITED PARE'S BANK, LIMITED. THE UNION OF LONDON AND SMITHS BANK, LIMITED.
HONGKONG INTEREST ALLOWED. On Current Account at the rate of 2 per cent per aunam on the daily balance.
"
גן
Tf such are the objecte, ran they be achieved beat by the old system of sabiising private companies, or by extending the principle of Imperial patnership coupled with that of opera tou by the State? The latter polley avoids certain risks incidental to the other method; and to some extent inseparabito from it. It averts the danger of foreigners nepairing con- trol through the purchase of shares, unist so that of the monopoly being manipulated seast lestur allied or subordinate commercial interests at the
or
}
and could afford to devote the other tuff of the twenty-four hours to sending Press messages free of charge.
The project is one which is connected in- timately with every other aspect of constructive Imperialism, and moreover is ripe for further practical realisation. It is not prejudiced for the time being by close association with party politics in any of the countries concerned. In England it might well be taken up by a Liberal aduiini-tration as a practical reply to the com mog allogation that the Liberals are indifferent to Imperial consolidation. Whichoror party is in power, the subject of Imparial cables ought to have a place high up on the agenda-list of the next Colsaial Conference-By Richard Fold in The Outlook.
THE FOREIGN CAPITAL BOOM.
CAUTION TO JAPANESE COMPANIER.
ALLEGED OPPOSITION OF THE GOVERNMENT.
to the course of the next few months many companies in Japan will probably be developing business with the aid of foreign capital. The lend was taken recently by the Hokkaido Colliery and Railway Company. This was followed by tho Kwansa Railway Company; and the Kobu Railway Company and Fuji Paper Mill Company are now negotiating for The Kyushu, Sanyo. Hankaku, and loans. Hoknyets always and the Ocaka Shoson Kaisua also contemplate opening negotiations,
The Hoch admitting the necessity of replacing high interest loans with loans on cheaper terms, warns Japanese that strict care must be exercise in negotiating for and making use of foreign capital, and this applies parties. larly to railway companies. The Tokyo journal recommends that in negotiating loans the following points should be kept in mind Should there be a boom in business similar to that following the Jupan-Chias War, succeeded
expense of rivals. Theoretically, no doubt, sneh possibilities may be precluded by the insertion of suitable clauses in the agreements with the State. But experience already has shown how A catshe great are the political difficulties. monopoly, like railway, mouopolies in the United States, will continue to wield a irresistible weapon in differential rates, sreret open. against which depoersey and its
In this age
of legislators may rage in vain. combination the perpetuation of the cable monopoly in private hands, together with the encouragement of the Press be moans of a lower scale of rates would lead ultimately to the control of newspapers by a cable ring, and the throttling of the genuine expression of pabic opinion throughout the Empire. It is alleged oven now that the big newspapers in Australia the bare combined in an arrangement with cable companies which effectively closes the field to new journals. The rumour gains colour from the anatual hostility which has been manifested by section of the similar crashes, the consequences upon the (ONGKONG & SHANGHAI BANK Australian press towards the Pacific cable, national finances will be much more disastrous if
In Canada It is notorions that the press is largely not hesitate dependent for its European intelligence pou an American association which does to distort news to suit American tastes, as illus Trated during the Alazaka Houndary dispute. The establishment of a single and immutable press-rate for all customers would encourage the competition of independent agencies.
19
M
73
#
"
N
On fixed deposits for 12 months 5, pera.nam
4% TAKEO TAKAMICHÏ,
Manager. Hongkong, 22nd May, 1905.
ING CORPORATION
27
H PAID-UP CAPITAL............$10,000,000 RESURVE FEED==
STERLING RESERVE...$10,000,000 8,500,000 BILVE REKEYE
$18,500,000 RESERVE LLADILATY OF PROF TORS.$10,000,000 COURT OF DIRECTORS.
kan di mana prave man am 1 1 ----Tarning to the financial side of the question. must be made in gold. Observing that most of
H. A. W. BLADE, Esq.-Chairman.
A. HAUPT, E-Deputy Chairman.
Hon. C. W. Dickson,
E. Gootz, Dag.
G. H. Medhurst, Esq.
*Berlir, Calcutta, Hankow, Peking, Tientaur, Tsinanfs, Tringtan, Yokohama. Founded by the following Banks and Bankore:-- KOBNIGLICH SERHandlung (PREUSSISCHEF.
STAATSBANK) Berlin..
DIRECTION DER DISCONTO-
GEBELLSON AFT
DEUTSCHE BANK
S. BLEICHROEDER
BERLINER
GESELLSCHAFT
HANDELS
BANK FUER HANDEL UND
INDUSTRIE
ROBERT WARSCHAZER & Co.
MENDELSSOHN & Co.
31. A. TON ROTHSCHILD &
SOEKNE
JACOB S. H. STERN
Barlin.
Frankfurt a/M.
NORDDEUTSCHE BANKIN HAMBURG, Hamburg. SAL, OPPENHEIM, JE., & Co., Kcoin. BAYERISCHE HYPOTHEKBX-UND WEOBBAL-
BANK, MUENOBE,
LONDON BANKERS: Messrs. N. M. RorиscHILD & SON: THE UNION OF LONDON AND SMITH'S BANE, LIMITED. DEUTSCHE BANK (BERLIN), LONDON AGENCY DIRECTION DER DISCONTO GESELLSCHAFT. INTEREST allowed on Current Account. DEPOSITS received on terms which many be learned on application Every description of Banking and Exchange bainess transactal. HUGO SUTER,
Sub-Mansgor. Hongkong 9th September, 1905.
182
HE BANK OF TAIWAN LIMITED THE
(INCORPORATED BY SPECIAL IMPERIAL
CHARTER
CAPITAL SUBSCRIDED
CAPITAL PAID-UP ·
A. J. Raymond, Esq. Salinger, Esq.
H. Schubart, Beg: E. Shellim, Esq. N. A Biebe, Ecq. Hon. R. Shewan
CHIEF MANAGER Hongkong-J. R. M. SKITH
MANAGER :- Shanghai--H. E. E Hanter.
GREGOR & CO.
34, QUEEN'S ROAD CENTRAL, 18, FLOOR.
CHAMPAGNES
PERINET AND FILS.
RHEIMS-CHAMPAGNE.
MODERATE IN PRICE, and ABSOLUTELY GRAND VINS,
A "Ha!r-saver" that grows in popularity.
{45-2
NEWBRO'S HERPICIDE
The ORIGINAL, remedy that "'Kills the Dandruff <lorm.""
GOING!
HERPICURE BULL SKYE IT.
GOING!!
BERPIC DE WILL SAVE 17.
GONE !!!
NOT A HAIR-GROWER that the fair gets its nourishment direct from the
Newbro's Hericide will not grow hair-nature does this but by destroying the microbic enemies. of hal health the hair is bound to grow as caturn intended except in chronic baldness itrequires
Drug Stores, $1.00.
100 LATE FOR HERPICIOR but a sight knowledge of scalp anatomy to know hair-papilla. Therefore, the only rational treat- ment is to destroy the cause of the disease. Herp icide does this; it cures dandruf, steps falling hair and releves itching. A delighti hale dresslag. Gives extraordinary results. Try it.
A. S WATSON & Co.-HONGKONG, SPECIAL AGENTS,
Applications at pominent "arber shops
1106-13
REDUCED PRICES or EASTMAN KODAK FILMS.
No. F.P.K. FILMS
LA
Exps,
Wielx.
6
#
12
90 --14144--- 1.50
267
X
F.P.K. FILMS 12 Exps.
12
1.00
1.80
BA
180
4 AT K
230
74
B.E.K.
1.50
B.E.K. The shove ilms are absolut ly fresh. Doveloping and Printing undertaken.
We invite you to come und inspect our New Stock.
A. TACK &. 00.
26. DES VIEUX ROAD, HONGKONG.
WALTHAM WATCHES
VISITORS TO CANTON.
Should purchase
"FROM HONGKONG TO CANTON BY THE PEARL RIVER."
BY
CAPTAIN C. V. LLOYD (8.8. HANKOW With Illustrations, Maps and Plans.
Price
On Sale at
.$1.30
Hongkong: "DAILY_PRESS" Office.
Messrs. KELLY & WALSH. Messra. W. BREWER & CO. Canton: Moosra. A.. S. WATSON & Co Hongkong, 4th October, 903.
•
12,000,000 of these watches now in use. Waltham All watches are guaran- teed by American Waltham Watch largest Co., the watch movement manufacturing
concern in the world.
2089-3
46
the companies have borrowed foreign capital than if they employed domestic funds. Capital invested is often many year before showing any return, and in such a case, it is abrolutely neces sary to provide means for payment of interest that the payment of interest on foreign loans in the interim. It is also to be borna in mind the companies which contemplate making foreign loans intend to use the money partly for replacing existing loans at high interest and purtly for the extension of lustuss, the Hocht contends that while such a course is quite proper, at the same time it is necessary East position of the company. The rate of interest publications in the sight of the mercantilo America has great hopes of China-as money saved by the redemption of the and the natars of the beads, domestic or commuuity.
should immediately find profitable foreign, should be left to the option of the loans investment. If any portion of the money is undertaking concerned, the directors of which market for her goods; and in recent years, but wasted on anproductice works or squandered know their own business. In fact, the inter- more emphatically in recent months, has boo ference of the Government authorities, who can studying Herkets of that country carefully. of have little knowledge of the business of a com. It must, in the circumstances, be a cause on high living, the financial situation will soon become disorganised. For these ressous, oom- panies raising foreign loana should exercise the greatest care.
the difficulty of securing from private companies, by amicable negotiations, the lowest rates com patible with reasonable commercial unccess is a fact sufficiently established by past experience Were the principle accepted that a very much in a vital Imperial noces-ity, rater lower scale of the question of subsidies would be more thorny than ever. But there is a more fundamentul objection. The business of telegraphy is one in which private enterprise has failed conspicuously to substantiate its general claim to superior efficiency and economiyascompared with State en-
In brief, when foreign capital pany, must vins great inconvenience to basiness į deep chagein to the officials at Washington. terprise. Is the department of inland telegraphs,
is used for productive purposes, its introduation generally. Under such circumstances business who appear to hire lively interest in their cannot be conducted with confidence. If bushes that at the present time Chinese merciants and literati are actively hostile to comparing the principal countries of the world,
is heartily welcome, but it is absolutely contract has been signed between the repre Governments have succeeded in giving cheaper
sentatives of an undertaking and a foreign American trade. However the Bu now and more extensive services then private com
nacessary for those who undertake these loans panies, even without sacrificing the principle of
to do so only for the purpose of using the and it this contract is anguiled pablishes a selemo contrived by at American the netion of the Government, wlast gentleman sissing experience of Chines self-sapport. If their working expense are
and mey hops great things from approval, mij is confident that the Empire will impression would it make on foreign capitalists trade, which appears to moat, with its edit higher, on the other hand they are not concerned moner so that it will increase productive to pay dividends over and above a low interest
harroful to Japan, which it would be hard to the successful execution of the project. en capital only. But the pioneers of the greatly benefitted by the introduction of "They would be justified le forming impressionai Pacific cable claim that the working expenses of the latter already compare very favourably foreign capital. If the introduction of fursiga ozadients. If the Government has the true Tae basic feature of this scheme is or For 3 months, 24 per cent per Annum.
indeed with those of the Eastera Extension money advances at the present rata, the Tokyo interests of the economic circles at heart it will raatent exhibition at Shanghai, which it is an active agency for the distribution of infor- For 8 months, 34 per cent. por Annum.
mation for the benefit of American Company, which lately has been spend journal think, dobautares and shares of avoid the interference that is complained of. iutended should not only be an exhibition but For 12 months 4 per cent per Annum,
J. R, M. SMITH,
ing money treely throughout Australia in Japanese companies, together with Govern
scheno bas features which entitle it to Rome Chief Manager.
danvassing for business against its Government ment bonds, will come to be bought and sold
It is distinction.
sad to retain a staff of Hongkong. 19th August, 1905.
rival. Such expenditure, which is necessitated on the foreign stock markets, and Japan will
intelligant and
employees of the ars the world. This will be of grent advantage It the Empire. ing advantage to the public. On the court the development of
highest clase, and conversant with the different THE MERCANTIL BANK OF by a competitive system, brings no borrespond. thus be admilited into the economic markets of it prejudices the shance of a further reduction
abroad would in rates. So far the Pacific Cable Board has is, however, to be admitted that in such
merchants of the highest grado, "thereby been reluctant to follow suit. Were the State case financial disturbances
Japan, American morcimals in the promotion of the plain the different exhibits to officials and its additional telegraphic also involeo the market of Japan. Then, and Labour seriously intends to give a lead to dialects of China, to associate with, and o itself the monopolist, í business would not recessitats the establishment should a financial panic occur
LONDON BANKSED-LONDON D COUNTY BANEING COMPANY, LIMITED. HONGKONG-INTEREST ALLOWED. On Carrent Account at the rate of Two par Cent. per Annum on the daily balance.
OF FIXED DEPOSITS.
INDIA, LIMT, ED.
21
AUTHORISED CAPTZAL.......................£1,500,000
SUBSCRIBED.......... 1,125,000 562,500 PAID-UP omerter, sevirtesnių
110,000 RESERVA PUN KENDİ
BANKEES: LONDON JOINT STOCK BARE, LIMITED,
of
Imsiness.
sell, in which case
ח!
Chronicle.
TRADE-IN CHINA. -
The Washington Department of Commerce AMERICA AND HER FOREIGN
commerce.
The bars idea is not, perhaps, now, but t
the decline of the special collecting offices or the maintenanes foreigners bolling Jripanese stocks would country's trade throughout the world, and oblatring for American commeres a prostige of a canvassing staff. The existing post-office arket would follow, resa'ting in a beary appears to be succeeding admirably in this which is invaluable." There would also be a staf
3
"I
Yed 5,000,000 2,500,000
20 A. R. LINTON,
Acting Manager. Hongkong, 80th June, 1865.
26
HONGKONG SAVINGS BANK.
:
་་
HE Business of the above Banks is oond to
HEAD OFFICE: TALPER, FORMONA.
BRANCHES AND AGENCIES:
Amoy
Koba
Anping
Nagasaki
Foochow
Deaks
Keelung
Shanghai'
Tainan Tameri Tokio Yokohama
:
HONGKONG OFFICE: 4, QUEEN'S ROAD.
Carrent Account, Interest allowed сп Deposite received ou terms which may be learnt on application.
8. SHIGENAGA, Manager: Hongkong, lat November, 1904.
1121
At the same time
ambition.
the
of brands by
The Bureau of Manufactures, a of educatal transcribers for the translation of
"thereby savingt
to our exporters many thone- in village would provide all the necessary
exodus of gold from the Empire. This is to lion and facilities.
be regarded, however, as merely a possible evil subdivision of that department, has recently advertising mutter into the mandarin characters, been organised to focus official attention on ands of dollars" at present wasted, and these INTEREST allowed on Carent Åoconuts at
Assuming that in this particular sphere the the rate of 21. per annum on the Daily balance. argnment, from economy and efficiency is in incidental to the introduction of money from
gehou are, briefly: "a new paper or advertis- ON FIXED DEPOFITS SÅ
favour of State enterprise, there remains no abroad, but the great advantages of foreiga substantial reason for the policy of mudilling capital cannot be ignored on account of ons opportunities abroad, and though at present translations would be properly distributet
disadvantage. For 12 months.
It might be feared, however, hampered by the very limited sum placed throughout the country. Other features of on with the old system. Doubtless we shall disa taking advantage of the desire on the part at its disposal by Congress, it manages to ing sheet, educated interpreters mud traveling for the suitable hear a great deal about the "gratitude which the Empire ought to feel towards the of foreigners to invest in Japan, business men maintain many important activities in the salamon for the benefit of exhibitors or
"The obvious weakness would be prompted to undertake speculative.
serious results, but as ex-interest of trade It has been exploiting representatives, wivice to exhibitors astochanges existing companies,
the consular serpe after a manner that should necessary to make their goods: Of the plea is the implication that the enterprisos,
the business from perienced business man would venture upon then that active body to the best acconut, not market, the prices of competitors' goods and companies went into
COUTSE. a micidal such a altruistic motives, instead of being simply
The Joes on to say that it would be by limiting the conents discretion, but their quality, as to infringement it is out for the dollars." both just and expedient to condemn the idea of unwise to discourage the introduction of suggesting new subjects for enquiry, which it irresponsible merchants, whom the mascam will expropriation by the State except upon the foreign capital, which will be so conducire makes of the manufacturers and others at home. also assist in prosecnting, information about terais of a valuation which will recognise that to the development of the Empire, and the It has also been successfully tapping sources now lines of communication and tariff charges, the success of the compaires, from their own Government should give its full assistance. outside offciallow, and in various ways initiatete, assistance to exhibitors in the registration Government is interfaring in the negotiation profit. Another minor but nevertheless im- of documents, and assistance to Chiens standpoint. has bean legitimately achieved. If Hut the Jiji is surprised to learn that the ing investigation for the scuntry's commercial of trade marks, getting patents and copyrights.
is the editing of the Daily Consular and merchants.
Thescheme appeara to babighly ingenious and thair profits are large and so, that is the suult of loans by dietating terms or appointing the portant reform which the Bazen has instituted merchants in communicating with American priation inoportionately bigb, that is the of the public, which, having deliberately granted bank to which the property of the company, valuable concessions and subsidies, ought to security, is to be entrusted. The object of the Trade Reports," which were formerly given to abide by the conveniences of its action. But Government, continues the Tokyo journal, the public without any offefal mark of appro-as the American Government as well as mar- in the last resort, should negotiation fail, it will appears to be to prevent companies from bation or otherwise. The Bureau assumes the chants have ambitions in China, it is not likely le open to the Imperial partners to lay their own contracting loans on disadvantageous tortas, right to have an opinion of its own on the to" fall fat. It, therefore, hahores British cables alongside those of existing competitors, and to enable them to obtain aheaper rates, but matters that come before it, and the judicious merchants to keep a watchful eye on Americans Bush interference will only hamper business exercise of this editorial fonction greatly and particularly on this schame.-Commercial The polioy advocated by the pioneers limits the Imperial partnership, for the presentat any rate, The terms of a lean entirely depend upon the enhances the importance of the official Intelligence.
ted by the HONGKONG AND SHANG HAT BANKING CORPORATION. His may be obtained on application.
INTEREST on deposita is allowed at 3: PER CENT, Y BLOGI
Depositors rosy transfer at their opti balances of $100 or more to the HONGKONG AUT SHANGHAI BANK to be placed or FIXED DEPOSIT at 4 PER CEFT. per annua,
For the HONGKONG AND SHANGHS)
BANKING CORPORATION,
J. R. M. SMITH,
Chial Manager. Hongkong, 1st May, 1902
ля