J
BRITISH SHIPPING AND THE
FREIGHT OUTLOOK.
THE HONGKONG DAILY PRESS, SATURDAY, FEBRUARY 3rd, 1906,
JAPAN AND PROTECTION.
VIEWS OF COUNT OKUMA,
t
KIDNEYS INJURED BY AN ACCIDENT.
Mr. W. J. Moore, 11, Pakefield-street, Pakefield, Lonenloft, England. is well known and respected. Although only 25 years of age, be has been connected with roligions work for many years, and on most Sundays during the past 6 years he has atly occupied some village pulpit.
"It was when the electric framway was being laid in Lowestoft," Mr. Moose began, "and I was at the wharf getting a load of cement. when suddenly and without warning, soveral tons of cament slipped, and before I know what bad happened, a bag struck me a glancing blow on the buck. It was the worst pain I've over knowa, just as though my ban was broken in two. They took me to this hospital, where for 27 weeks I lag hovering between life and death. The doctor said my kidneys were bruised, and at length he gave up my case as hopeless, and I was taken home.
CHARLES DAY & CO.,
LONDON,
ARE THE SOLE EXPOFT BOTTLING AGENTS FOR
MITSU BISHI DOCKYARD JOHN JAMESON & SON'S
AND ENGINE WORKS, NAGASAKI.
CODE WORD: "PO^E," A.B... and Engineering Code. Dal i
NEW DOCK NOW UPEN.
799 feat. 714
DOCK No. 2, Extremo Length... Longth on Blooke Width of Entrance on Top Width of Entrease on Bottom... 89 Water ou Blocks at Spring Tide 34
DOCK No. 1. Extreme Length... Length on Blocks Width of Entranos on Toy Width of Babranos on Bottom... Water on Blocks at Spring Tide
981
$2$ foot,
513
88-
77
281.
DOCK No. 2.
་་་
t
371 fost, 照し
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66 J
on
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Extreme Langth... Length on Blocks Width of Entrance on Top Width of Entrance on Boltons... Water on Blocks at Spring Tide
PATEN SLIP Suitable for vessels up to 1,000 tons grusa,
surplusnge of vessels left there "seeking "when the war cafod, the average of this year in the freight markets is not much, if any, better than was the average of last year. Now last your was not considered a good time to contract for In a recent number of the Tokyo Economist, Just as the mercantile maxine is the greatest building of cargo steamers, becanes the war in which is now edited by Mr. K. Noritake in of our national industries, so is the immediate the Far East was being waged, with its infinite sancession to the late Mr. Taguchi, appears an future of that industry one of the most--porhaga possibilities. This year is, or at all ovents has article by Count Okuma desling with the the most important of our commercial problems. been, considered a good time for building, advisability or ctkerwies of adopting a protes- Karely, if ever, buvo our shipbuilding yards, as because the war is over and a term of internation, and considers that though at first sight
whole, boen wo busy as they are just now (says tional peace is expected, with illisitable pos- it may appear boneficial it would in reality do Some months back, Mr. Monro wrote us a the Times of Dec. 18th) owing to the use of sibilities. That is the sum of the whole matter, more harm than good to the real interests of grateful letter, falling of the good Doan's
Backache Kiley Pills had done him, and A.1, recont ordors, and although some are more and the root of it is that the Brilish shipowner the country.
Count Okama observes that the protectivo inviting as to send our representative to get actively on played than others, and some districts, as he always has been, the man of the future, are only modorataly employed while others are Ho leads the commures of the world, because he policy, which bad its origin in Germany, is steadi-fall particulara. This we have now done, and under high pressure, there geems to be little is always in advanes of it. He comes at timoa ly spreading to other parts of the world, not our randers will see that the case teems with doubt that the amount of now merchant tonnage to shallow waters, and for some years past boxcepting Japan. As far as present appearsuous interest put into Britiel waters this year and early next has made a poor profit in his balanco-sheets-indicate, it cooms likely, continues the Count, year will exceed all previous cocords. In round excopt when he had a South African war con- that there will be considerable accension to the azmbors three fourths of that new merchant tract or war-risk freight in the Far East ranks of protectionists in Japon in the future. tonnage will be under the British flag, and the But when the times are good he is always condy Despite the fact that economic phenomena are British register will be largely increased. What for them. Just now he is preparing for wint not always regulated by theocies, there has we build for foreigners is not all that which is be Felieves to be one of the world's groat bursts | been a distivat tendency for the Japanese added to the foreign registers, and the total of commercial revival, and perhaps ba may be Government, in its financial administration, to addition to the world's tonnage this year will right.
blindly follow text-book theories, paying bo enormously iu nzuess of the normal. wastage ;
little attention to the actual condition of the and it is to be remembered that there is now
country. The result has been that the Govern none of the abnormal afstage that attended the
most, in its eagerness to encourage home earlier stages of the Russo-Japanese war.
indastries, les now come engage in various terprises itself, such as the tobacco and salt trades. In England, after the national Not one of my frieads thought I could live. upheaval following the repeal of the Corn The Fans I suffered in my back and hips were Laws, the protective policy was discarded and just as though you took out your pocket knife 4 pormanent basis for Free Trade Inid. In and kept sticking the blade into sue. I used to fan thore has been a decided tendongy since get dizzy and extrusted with the pains, and the war in favour of protection, and the ground suffered neonies Town rheumatism, as well a held by the free traders is being adily and urinary trouble. I piantured my encroached upon by protectionists. Of coness back until its green, but no relof could I the Government is scarcely in a position in get, and at fast I became so weak with the Garry out its protentive measures at will, constant suffering that I couldn't keep down a inng the Conventional Tarifs remain in morsel of food. A watery swolling calde about WORKS are well equipped with LATEST PLANTS and APPLI force, but thero in every likelihood that when my eyes, and for a furtuight I condidn't see.
ANCES to undertake BUILDING or it is freed from the present restrictions a fun
"I told you in my letter," Mr. Moore went REPAIRING SHIFE, ENGINES, and
BOILERS;
ELECTRICAL protection,
me good from the start, and now they hare, WORK. One of the reasons that has induced the Gor. thank rovidence, cured mo, nat I'm glad to arment to favour the protection principle is 1 Brende ne have the opportunity of endorsing my letter probably the fear of the continuation of excess of imports over experts. The want of equili- my old self again, and I'm as well to-day as ever brium in trade, however, must be attributed to
I was; there's no pain or innry trouble at all. the wholesale intranetion of foreign capital, Ito su wait, la fae, that for some time I've which is resorted to by the Government as well been regularly folowing my now occupation as private undertakings. Under such circon. Insurance Agent, mud," ins grate.ul man went stances, the expansion of the currency and the
on, "I cycle over 10 miles every week, and consequent rise in the price of general commo. generally walk from 10 to 12 miles ou a Sunday distress to the majority of people, especially show you what a count ad lasting care mine is dition is inevitable. This will not only bring in connection with my preaching. That will
Among oficials earning mengre salarien, but it will necessarily result in the swelling of admin istrative expruses. To increase the cost of living among people of limited mens hus m avil juduence on the susceptibilities of society. Thoris was a time when every 10eans at secrecy was sorted to by the Government in th process of buying up" members of the Diet, but corruption is now carried on openly without any thought of shame or attempt at concentrant. Such deterioration in the standard of morality may be attributed in The Act has been in existence for sixteen
measure to the.increasing difficulty of living. mouths, and it is practically inoperative," said This is owing to the rise in prices, brought Mr. J. A. Stacey, the secretary of the associa.about by the blun lers committed by the then, who took a leading part in the promotion Government after the war of 1894-5. The of the measura.
One word as to Japan. Ono hears ropnated expression of the belief that she will require large amount of now merchant tonnage, aud that she will find it to her advantage The problem, then, is what cosplayment is to to come to us both for ships in commission and be found for all this now tourage, and what arv
to build. It must, however, be assumed that the prospects for the shipowners of this country Japan will consider her own shipbuilding in in particular? For a proper nusideration of dustry first, and that she will only buy what this problem it is nessary first to incderstand she cannot horself build quickly enough. And how the recout spurt in shipbuilding was caused, it must be remembered that Jepan has quite a and to do this one must understand the large feet of captured vessels for which she enterprising mind of the British shipowner. Eu must find employment. It is true that a largs effect, it folle wed upon the conclusion of poseu proportion of those cautives ars mors or less between Russia and Japan. I do not mean that out of date or in some way undesirable vessels, there was imotivity in the shipbuilding trails sont into the war trena because they were not before that incident, for the reverse was the very valuable craft. But the vessels must case. And even before the actual conclusion of other employed or sold, and employed by some whether they are sold or not. They are, {/XX*} domas in anticipation of a
a paacs which m fait could not be very long deterred. But the world, though written off among our loss. real burst which attracted public attention, and | And as far as the near future is concerned, it is witick has no stimulate the iron and steel feelespeable that the demand for tonnage will be followed the termination of the war. The active for the remainder of this year, after general inforenen is that shipowners hastened to which it is uft improbable there will b purchase vessels because of the great rush of reaction in subory. Thou will come the business they expected to result in the East-Argentine grain shipurats; and then should tors of commercial reaction after the builitary also come som pratical signs of the general stagnation. But this conclusion is by no means | awikening Jat is anticipatol. accurate. It is true that the termination of the
ths war there were practical signs of reviving hersforo, part of the effective Conange of the years hence, it will launch out upon a policy of fon, "Low 1 oan's isexsche Nidney Pills did
war gave an inpedus to the shipping industry, but not so much becass this particular conflict was terminated as because the conditions under which the Russo-Japanese war terminated in die tool the probability—which some accepted as a certainty that there will be no other great wat in the world for a long time to com. One ne-d not pursue the political arguovut here, but the cist cf it is that the crippling of Russia and the alliance between Great Britain and Japan are, with other international circumstancos sufficient to snsure the world for a long time from the shook of another encounter between two great Bowers. Upon that proposition the argument is unturally based that a grest stimuln to industry will be felt in the near future not in one country alone, but all over the world Capital will be attracted from gill-edged securities and withdrawn from the national "stocking" for iosustment, in commerce, in wicos, in industries, whocayor and wherever there is sny prospect of commorativo returns- and puriae oven where the prospect is paroly speculative or imaginary. Now, the far-sighted shipowner foresans the result of this anticipated rovinal in the world's induslay. He sees in the construction of railways, the making of roads and bridges, the erection of townships, the opening up of minos, and so forth, theseringe of pu immense spoont of material in the cont. ng mouths and yours-an achiel allition to the world's normal sum of sea-curringe. Thes the construction of railways, roads and inviges, and telegraphs nea
means au impts to the several industries and the additional carrying to a fro of coal and iron, of iron ore and timber Together witle these developmuts the mind's eye of the shipowner foresees time extension, "prace conditions, of the world's pasture louds and of the world's crops of food for both hunnuity and factories. Iù skeri, with the terntantion of the war in the East, heralding, it is believed, a long term of international pence, an infinite vista of industrial and commercial development all over the world is opened up to His vision; and the development implies au iner tealable amount of sea-eurriage in the coming years
ander
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Sorue
FAILURE OF EARLY CLOSING ACT.
The Early Closing Act has not been the success which its promotors hoped it would 'That is now admitted by the prove to be,
Meisks of the Early Closing Association.
The enactment was tlio result of seventoon. pears affort and agitation, and was passed in the House of Commons in the face of ecnsideranto opposition, but the lack of vasuimity among trad-amon with regard to ils provisions and the difficulty of erstraing some of its clauser have
el to its failuro.
i
excess of imports over exports ever since the Lord Avebary still believes that something de consequens was that al hough much of the Japiu-China war has been very grew', and may be don with it, but I think there is littl bag of the Act being adopted to any satisfac-500 million yen of the war indemnity was tory extor
brought to Japan in the form of silver bullion and minted at Osaka, the treasure found its way to England before long. short, the indemity simply passed through Japan on its journey:
The difficulties are abnormal. The con- ditions, for instance, which govern Whiteley's, Harrod's, and like axtablishments are very remote from those which control the smell, struggling tradesman,
The Act, too, dues nou give any satisfactory definition of a trader, and that makes it all the more unlikely that the necessary two-thirds of the shopkoopera in any district will consent to its adoption.
Another great obstacle in London is that with respect to the boundaries of the differous Areas. As an example I may say that in Cam- berwell, Prokham, and other districts the ead of onu division is on one side of a street, and the beginning of another division on the other side of the A thoroughfare.
Thus you buy have, say, two grocers within 100 yards of uncf other, but in different areas. That condition of things, and tha fret that the closing clause of the Act is optional, largely accounts for the failure of the measure to be put into operation,
*There is further reason for the non-success, through whom the Act has to be put into force and that is the operation of the local authoritie They have an optional power in the matter. We succeeded in getting the measure adopted at Ilford, but the local council refused to con- Gru it.
To secure the success of the early closing movement the present Act will have to ba considerably strengthened in several particulars, or in the alternative, Sir Charles Dilke's till, making it simpelsory on every shopkoper to close at a certain hour, must be passed by Parliament."
JAPANESE COTTON MILLS.
This i tako to be the genesis of the recent spact in shipbuilding, which was only checked by the large adsanos in the price of steel. It did not begin with new-comers, and the occasion does not call for the usual reference to fects and angais. The most experienced shipowners in the country-the men with the widest ontlook Thaussociation has made thorough attempts deand the time opportuns to replace the in different parts of London to put the Act into wastage that has been allowed to go ou in theroption, but without srail. In fact, Newport fleets for the past three or four pours. It is not
and Wolverhampton are the only two places in necessary to consider whether or not they wait- the kingdom that, according to my information, ed too long or whether their judgment now is
are likely to adopt 24. sound. I am merely attempting to indicato a plain measure of the situation. No doubt ships euld be built a year or two ago a good deal cheaper than they were coming even before the recent spurt in stri and iron. On the pressut basis of steel plates, ele, a good class cargo
built st winor up to modern requirements will cost from £6 15s to £7 par ton of dead-weight capacity. Six months ago such a vossel would be built for less than £
per ten. Twelve or eighteen montbauro such a vossei might havİ brea get in some districts for 65 18 per tot. There are reports that stearaors were built to
The result of the working of the Kanogafueli order ut us low as £5 5s and even £5 per tea in
Cotton Spinning Company for last half-your the North of England. There reports have has been of the most satisfactory charactor, an never been properly authenticated, though it is
was the case in the preceding half-your, The not improbable that an odd boat or two, not of
net profit of the company for the period is any special type, may have been resold by ship declared at Y1,737,038, including 230,618. builders against defaulting or embarrassed ship-brought over from last account. Of the total, owners on some such basis. If, however, our the sum of Y404,272 is allotted for a dividend at takes to 108 per ton dead-weight capacity as the rate of 16 per cent. per annum ; a similar the sisimum price a year ago of really good amount placed to the reserve for the equalisation class, up-to-date cargo steamers, and £6 158 per of dividend; Y5000 to the legal reserse; ton as the present price (though I doubt if any Y50,000 for employees' bonuses, Y50,000 to the re- shipbuikier would contract to day on such serve for operatives' pensions and relief; Y20,000 basis), the owner who build new has to pay
to the fund for the promotion of operatives' premium of nearly 25 per cent. However the welfare; Y30,000 to the fund devoted to the future may look to the eye of faith, that cannot saitory condition of opera ires; and the sarpins, bo a very praising outlook for him, and the $159,494, is carried forward. The advance in price ince the summer has very funds of the company ow amount to Y1.461,891, rapidly checked the rush of new orders,
and the working fund to Y2,800,000. The company has decided to extend the mill at Mukajima, Tokyo, and instal 10,000 spindles for epinning gassed yarn, the cost being met by the surplus of profit carried forward and by the reserve fund. It is pleasant to note that is the midst of its great prosperity the Kangafnehi Company is not losing sight of the needs of its workpeople.
reserve
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The brand fact is that the spart in shipbuild ing was not justified by muy improvement that basnotually taken place in the freight markets. There has been improvement undoubtedly in some of the markets, and there is a larger de mand for shipping all round-pron where no actual advance in freights has taken place. But the freight market" is a very wide term Last year the Eastern rates were excellent, The Omaka Spinning Company has been partly on account of the war and partly on equally successful during the half-year just account of the Indian crops; and the American ouded. The set proit is declared at Y387,271, rates were bad, because of the shortage of the and the regular dividend allotted at the rate of sarpins crepsf for export. This year the reverso 12 per cent, with a special dividund at the rate is the case--the Indian market is bad and the of 13 per cent. per annum, making the total American market is good. A survey of all thomaz dividend 25 per cent. The sum of Y16,000 is ket reveals the prevalence of this sort of "com- placed to the reserve of proferesce share pensation balance"where one is good that dividends. The profit of the company for was bad last your another is bad that was good the half-year is a little bolow the estimate, last year. Ou so very wide a subject one can due to the outbreak of pingus, which led to only generalize with cantion, but setting good the stoppage of array orders for calico. There against bad, and satting the high rates temper has also been a decrease in the export of arily prevailing is the Black Sea against the cotton goods to Cotes, doo-token-com- low rate brought about in the East by the petition."
Iir
Contiening, Conat Okuna maintains that the movement in favour of a protective policy is being supported by financiers and other business mon of superficial views, apparently in satisipation of an adverse tide of trade that is likely to arise in the future. The imposition of a duty on ries, which is now the sabject of much controversy, may be taken as an example of the blunders which may be committed in tu name of protection. Fapeless rice bas never suffered,”in competition with fordgu rise to such an *rn as to interfere with its production. On the contrary, with the improvement in the method of cultiva tion, the yield is yearly increasing ond alsa i prien There exists absolutely no recessity to protect the home industry by tariff pisans. It would be far more to the interest of Japan to devote attention to the development of hor power of production than to of protection. It is true that Amerion is a waste time and energy in mowningless measures
exports thau imports, but this is ont sarprising protective country and bus a larger sæoast of
in a country liko America, wł ich has much debt abroad. Japan has been made famous in night, so to speak, and admitted into the couno of the great nations. In point of wealth, however, he is far below other countries. The Japanese have spent in the war an amount of money such as they have ever handled before, and consequent- ly their notion of the value of money has been so unduly exaggerated as to be wholly ineon- sistant with their true financial sanding. Ia their eagerness to recover the money they have expended, it is not nostural that a speculative tendency should be ereused among the people, who may now be induced to regard profsotion 38.& univereal panarra. Herein lies danger to tho tras intereste of the country. It is advis able that public men should ponder, concludes Court Okuma, before the protective doctrine is carried to extremes,---Chronicle.
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remedy we think there is no doubt. From the Lime of Aristolic downwards, a potent agent in the removal of these diseases has filke the famed pål- losopher's stone) been the object of search of some hopeful, gezeraus minds; and far beyond the mere power-if such could ever have been discovered-of transmuting the baser metals into gold is surely the discovery of a
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I as to replenish be falling energies of the comfirmed sewe in the Que case, and in the other so effectually, speedily and safely to expel from the system without the ald, or even the knowledge, of a second party, the poisons of acquired or inherited disease in other protean forms as to leavego taint or trace behind. Such is TheNew French Remedy Therapien, which may certainly rank with, if pot take precedence of, many of the discoveries of our day, about which no little ostentation and noise have been made, endikeextensive and ever-increasing demand thaë has been created for this medicine wherever intro- dused appears to prove that it is destined to cast into oblivion all those questionable remedies that were formerly the mile rellance of medical men. Therapion may be obtained in Enginady direct from the proprietor, and of the principal Chemisto nggi Mechszia throuchont. The Colonies, India China, Japan, &c., pot even excluding aneb remete districts as Central Africa, the Fiji Islands, St. Helena-DiamondFieldAdvertiser KıNDERLEY
Bold by all Principal Chemists 2613