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MARCONI REPORT.
LORD R. CECIL'S REPORT.
THE HONGKONG DAILY PRESS, WEDNESDAY, JULY 9xx, 1818.
It
The draft report. submitted by Lord Robert Cecil, which, like the Chairman's, a long and detailed document, ex- haustively examines the matters on which the Committee have been engaged. calls attention to the indirect advantages of the contract, which were, it holds, far more important than the direct, and affected not only the parent. Marconi com. pany, but all the subsidiary companies.
As regards the new capital of the American company, Lurd Robert Cecil's report finds that Mr. Clodfrey Isaacs' account of his dealings with the 500,000 shares which he undertook to place, and with regard to the whole of the transac tions connected with the introduction of the American shares to the London market, I points out why not satisfactory." that he stated that a record of the sale of the shares to him would be found in the minutes of the English company, but that an inspection no such minute existed, and that owing to a decision of the majority of the Committon they were precinded from recalling Mr. Isaacs in order to explain the discrepancy,
In a long paragraph Lord Robert Cecil examines the introduction of the American shares to the English market, and finds that if any ordinary member of the public had gone to his stockbroker with an order to buy 10,000 American Marconi shares
April 17 the order would not have been carried out until April 19, when the purchasers would have had to pay 3 or over. Sir Rufus Isaacs, it is held, got his shares at a lower price than could have been obtained by a member of the general public, even if such a person had known how to get any shares at all on that date.
This report also here refers to the manner in which each of the three Ministers might have had to deal with the contract in his official capacity aftor April 17th, 1912, and considers Sir Rufus Isaaca transaction gravely improper" in that
it was carried through as the result of information obtained from & Government contractor. The impropriety of making an advantageons purchase of shares of such information would remain the same whatever the character of the shures purchased. The charges made in the Press, and particularly in the Quicok and the National Review, are stated to be without foundation, and the recklessness with which many of the charges were made is reprobated. But in view of the definite and persistent rumours connect- ing Ministers with Marconi share:, the draft report adds that the statements i PORin the Press cannot all be set down
due to mere malicious invention."
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PASSENGERS.
ARRIVED.
1175
Per Fuensang, from Mavila, Mr. A. Z Rock, Mr. C. "A Lindstrom, Mr. F. M Cox, Mr. J. A. Murphy and Mr. T. Bagalarms.
Per Empress of Russia, for Hongkong from Vancouver, Miss F. L. Melville, Rev. A. Saldanas. Ber. A. Crespo, Miss R-E- Hay-on-Mr. and Mr W St. Dunbar. Master W. Dusher, Mr. L. 0. Morse. Miss M. Ballingal, Mr. R. Toovey From, Victoria. Majer F. C. S. Palmer from Yokohama, Capt. G. Turnbull. Capt. G. W. Anderson; from Nagasaki. Lieut-Colonel Finley; trom Shanghai. Mr. Chas. S. Blakely. Mr. E. Bowditch Mr. W. Green, Mr. O. B. Roses, Mr. T. L Hirst, Mr. W. H. Law and Mr. Denar Fuller.
Passing on to the statements made by Ministers in the House on October 11 last. the report holds that while no specific charge had been formulated there was general uneasiness as to the possibility of anything in the conduet of Ministers being accountable for the existence of rumours. That uneasiness demanded an immediate, full, and straightforward statement," and in evading it Ministers failed to treat the House of Commons with the frankness or the respect to which it is entitled. Notice is taken of the fact that Lord Murray apparently intended to conceal altogether from the Committee the fact that he had purchased shares on behalf of the Liberal Party funds. This 2pparent shrinking from a full disclosure of the whole of the transactions is con sidered to be largely responsible for an unensy impression that perhaps even now the whole truth is not known." This impression, it is urged, has been strength- ened by the acceptance of an arrange ment proposed by the majority of the Committee by which only the Chairman and an export were allowed to see the pase-books which Ministers originally tendered for the inspection of the Com. mittee, and by the very regrettable failure of Lord Murray to present himself for examination as a witness before the Committee, in spite of more than mo invitation to do so.
"GRAVE IMPROPRIETY.”
The following, therefore, are the con- clusions set out in Lord Robert Cecil's report:-
--So far as we have been able to ascertain, no Minister, official, or Member of Parlia ment had been influenced in the discharge of his public duties by reason of any interest he may have had in any of Mar- coni or other undertakings connected with utilized wireless telegraphy, or has information coming to him from officia! sources for the purpose of investment or speculation in any such undertaking.
We are of opinion that the Attorner General neted with grave impropriety in making an advantageous purchase of shares in the Marcon Company of America upon advice and information not then fully available to the public given to him by the managing director of the English Marconi Company, which was in course of obtaining from the Government a contract of very great importance-a contract which even when concluded with the Government had to be ratified by the House of Conimons. placed himself, however anwittingly, in a position in which his private interest, or sense of obligation, might easily have been in conflict with his public duty.
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MOTICES TO CONSIGNEES
"SHIRE" LINE OF STEAMERS, LTD. NOTICE TO CONSIGNEES.
STRAITS.
From EUROPE, COLOMBO AND
THE Steamship
THE
"VESTALIA,"
hating arrived from the above Porta, Consignees of Cargo by her aro heroby informed that all Goods are being landed at their risk into the hazardous and/or extra hazardons Godowns of the Hongkong and Kowloon Whorf and Godown Co., Ltd., whence and/or from the wharves delivery may be obtained,
Goods not cleared by the 9th inst. at 6 P.M. will be subject to rent
All broken, chafed and damaged packages are to be left in the Godowns, where they will be examined on the 9th inst., at 9.30 .. Claims against the Steamer must be prosonted within 10 days of arrival, otherwise they will
not be recognized.
No Fire Insurance will be effected by as in any case whatever.
Bills of Lading will be countersigned by
JARDINE, MATHESON & CO., LTD.,
Agouts
Hongkong, 3rd July, 1913.-
"DEN" LINE OF STEAMERS. NOTICE TO CONSIGNEES.
S.A. "KENDORAN," FROM LEITH, MIDDLESBRO", LONDON AND STRAITS.
[49
ONSIGNEES of Cargo are heroby informed that all Goods are being landed at their risk into the hazardous and/or extra hazardous Godowns of the Hongkong end Kowloon Wharf and Godown Co., Ltd, whence and/or from the wharves delivery may be obtained.
E
'S
:629-1
NOTICES TO CONSIGNEES
NOTICE TO CONSIGNEES,
THE P. & O. 5. N. Coa Stesiner
"CHINA,"
T
Arrived Hongkong on 2nd July, 1913. FROM BOMBAY, COLOMBO AND
STRAITS.
Consignees of Cargo by the above-named vessel are hereby informed that their goods are being landed and placed ar THEIR RISK in the Hongkong and Kowloon Wharf and Godown Company's Godowns at Howloon, where each Consignment will be sorted out Marit by Mark and delivery can be obtained as the Goods Jaré landed.
This vessel brings on Cargo:-
From London, R., ex 8.9. "Maloja,” From Porsian Gulf, or s.s. B, I. S. N.
and B. & P. §.. N. Cola Simmers. Optional Goods will be landed here unless instructions are given to the contrary within 6 hours.
Goods not cleared within 3 days including data of arrival will be subject to rent.
No Fire Inmance will be effected by me in kny case whatever.
Damr ad packages must be loft in the Go- downs ir examination by the Consignees, and the Company's Surveyors, Mesars. GODDARD and Doualas, ot 103, on MONDAYS and THURSDAYS. All claims must be presented within ten days of the steamer's arrival hore, after which date they cannot be recognised. No claims will be admitted after the goods asve left the Godowna,
E. A. HEVETT,
Superintendent. Hongkong, 3rd July, 1913.
FROM EUROPE.
*PREUSSEN,“
No Claims will be admitted after the GoodsHE HAL Steamship have left the Godowns, and all Goods remaining undelivered after the 9th inst. will be subject to rent.
All Claims against the Steamer must be presented to the Undersigned on or before the 16th inst., or they will not be recognized.
All broken, chafed and damaged Goods are to be left in the Godowns, where they will be examined on the 9th inst, at 11 AM.
No Fire Insurence has been effected. Bills of Lading will be countersigned by
GIBB, LIVINGSTON & Co., Agents.
[847 Hongkong, 2nd July, 1913.
"BARDER" LINE OF STEAMERS. NOTICE TO CONSIGNEES. The Steamship “SATSUMA." FROM NEW YORK.
MAGNESIA C
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grave error of judgment and as wanting in frankiess and in respect for the House of Commons.
YONSIGNEES »f Cargo are hereby informed that all Goods are being landed at their risk into the Godowns of the Hongkong and Kowloon Wharf and Godown Company, Ltd,, at Kowloon, whence and/or from the wharves delivery may be obtained.
Optional Curge will be forwarded unless -notice to the contrary be given before.
No Claims will be admitted after the Goods have left the Godowns, and all Goods remaining undelivered after the 14th inst. will be subject
We hold that the transactions of the
to rent. By doing so he Chancellor of the Exchequer were in the main in the nature of speculation rather than investment and that this applies in nless degree to the transactions of the Attorney-General.
these ad
We think that the action of the Post- master-General in trying to obtain the ratification of the agreement by the House of Commons without inquiry, after ho knew of the share transactions of the Attorney-General and the Chancellor of
We think that the Chancellor and the
We think that the circular distributed then Chief Ministerial Whip in taking by the Marconi Company on March 7, over a portion of the Attorney-General's 1912, gave a misleading account of the shores on the saine advice and information tender which had been accepted by the are open to the same censure; and we hold Government, in omitting one of its most this to be also true of the purchase of important terms, and we regret that the shares for the Liberal Party funds by the Postnaster-General did not take adequate Chief Whip, so far as such purchase was steps to correct this omi due to the same advice and information.
We find that the purchase of shares by Ministers on April 17 was made at a time when the shares could not have been Per Siberia, for Hongkong, from San bought in the ordinary course on the Francisco, etc., Mr. and Mrs. G. N. John. Stock Exchange and at a price lower than Judge 8. Moreland, Mr. K. B. Fontaine, that at which an ordinary member of the Judgo and Mrs. A. C. Carron, Wies Sunnable could have then bought them. The the Exchequer, was regrettable. Carson, Miss Caroline Caro, Capt. E. Attorney-General, obtained Castro. Mr. and Mrs. C. Spinnler, Mr.vantages because he took the shares from City of London as to the connection A. E. Connell, Br. E. J. Hingh Mr. and Mr. Harry Isaacs, who had to his know Mrs. C. H. Poole, Mr. C L Bluet, Mr. ledge taken them on even more ulvan J. P. Groves. Mr. H. II. Pethick, Mr. K. tageous terms from Mr. Godfrey Irani, Brown Dr and Mrs. J. R. Hards, Ms. We think these circumstances increase the We are of opinion that the Marconi Marr Young, Mr. A. J. Horswell Misiomropriety of the transaction, D.. Williams, Miss C. Sporch. Mr. W. X. Strat-son. Mr. Ehrhart, Mr A Company of America was materially Garcia Roi Mr. B. Connell, Mr. and interested, although indirectly in the conclusion of the agreement between the the English Marconi Company and Mrs. M. Reid.
British Government, and it was therefore in any case, apart from any question of purchase on special information, or on special terms, highly inadvisable for Ministers to take shares in the American Marconi Company while the agreement was still pending.
SHIPPING REPORT.
The British str. Empress of Russia re- ports: Fine and calm weather through but
We find taut the rumours current in the between Ministers and Marconi shares, arose chiefly from distorted however recklessly and inaccurately ex- pressed, shares of the American Company, and accounts of Ministerial dealings in the that they were not the mere invention of journalists. We find no justification for the suggestion that any Member of Par- fiament or any persons connected with the Poulsen system were responsible for the origination ut dissemination of the
rumours.
We are of opinion that the persistence of rumours and suspicions. lias been largely due to the reticence of Ministers. 1012, Wa regard that reticence as #1 particularly in the debate in October,
All Claims against the Sleaner must be pre. sented to the Undersigned on or before the Except as above stated there is no ad Angust, or they will not be recognized. ground for thinking that any Minister or
All broken, chsfel, and damaged Goods are official (apart from Mr. Taylor, whose to be left in the Godowns, where they will be case has already been dealt with) or Member of Parliament who appeared before us had any financial dealing direct or indirect in any Marooni
with wireless undertaking telegraphy,
connected
MODERN DANCING.
or other
When the Waltz was first invented, Grandmamma was much upset; Long she mourned, and loud lamented,
Staid Quadrille and Minuet. In her eyes (a bit old-fashioned)
Waltzing called for condemnation As a somewhat too impassioned Form of social relaxation; Grandma, with averted head, Swept her daughters home to bed!
When the practice of "reversing
Revolutionised the dance, Dear Mamma was beard aspersing
Fashions introduced from France. With invectives harsh and stinging.
She abused those youthful dancers Who were over-fond of "swinging
Partners in the Kitchen Eancers; Ragging, as a ballroom sport, Made Manna get up and snort!
No Fire Insurance has been effected. Bills of Lading will be countersigned by
DODWELL & Co., LTD.,
Agents.
[857 Hongkong, 7th July, 1913.
examined on the 3 th lus!,, at 11 AM..
Now, when Bunny-hugging habits
Elevate maternal hairs, When our daughters act like rabbits And our sons behave like bears; When the modern ballroom gang goes
Through the complicated maces Of those pseudo-Spanish Tangoes (Last of corybantic crazes) We can only gaze aghast, Like our forbears in the past!
But although each he (or she) grows More and more inclined to romp, Emulating arous negroes
In some Mississippi swamp, Recollect, when-Gossip chatters,
Though the best hotels taboo it, "Tisn't what we dance that matters, But the way in which we do it! Chaperones may look askance: Iloni soit qui mal y-dance!
H. G. in the Observer.
Captain Bable, having arrived, Consignees of Cargo are hereby informed that their Goods are being landed and placed at their risk in the hazardous and/or extra-hazardous Go. downs of the Hongkong and Kowloon Whart and Godown Company, Limited, whends delivery may be obtained against Bills-of- Lading countersigned by the Undersigned.
Optional Cargo will be carried on unless notice to the contrary be given To-DAY.
All Claims must be presented within ten days of the steamer's arrival here, after which date they cannot be recognised.
No Claime will be admitted after the Goods have left the Godowns, and all Goods romaining andelivered after the 10th inst. will be subject to rent.
All broken, chafod, and damaged Goods must be loft in the Godowns, where they will be amined on the 10th inst., at 9.30 AM.
No Fire Insurance will be effected by us in any case whatever.
This Steamer brings on Cargo:
Ex 8.6. "Corate Best Fries" from Abus, Ex 5.8.Kong Sigurd" from Sarpsborg. Ex 5.9. "Kong Sigurd" from Holmstrand. Ez s.s. "Jalu" from Drammen.
HAMBURG AMERIKA-LINIE, Honghong Office. Hongkong, 4th July, 1913,
[859
NOTICE TO CONSIGNEES.
FROM CALCUTTA, PENANG AND SINGAPORE.
TIRE Steamship
"JAPAN," having arrived from the above Ports, Consignees of Cargo are hereby informed that their Goods will be delivered from alongside.
Cargo impelling the discharge of the Vessel will be landed at ence, at Consignees' risk and SIPERSE.
Cargo remaining on board after 1 P.M. of the 9th inst. will be landed at Consignees' risk and expanse.
Consignees of Cargo from SINGAPORE & PENANGare requested to take IMMEDIATE delivery of their goods from alongside, such Cargo impeding the discharge of the Vessel will be landed and stored at Consignes' risk and expouse.
No Fire Insurance bas been effected. Bills of lading will be countersigned-by-the- Undersigned.
DAVID SASSOON & Co., LTD.,
Agents,
[60 Hongkong, 7th July, 1913
ON BALE.
SOUND VOLUMES of the MONGKONG WEEKLY PRESS, JULY TO DECEMBRE, 1912 With INDEX. Price 27:50.
Od Bale at the HONGKONG DAILY PRES Office.
Hongkong, 10th March, 1913...