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IT MUST BE BOVRIL
BRITISH TO
THE
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HORLICK'S
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IN THE BUSY STRESS OF LIFE
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in 3 sizes, 1/6, 2/6 and
11. (in England).
HORLICKS
PANTS, INVAL MED AND TRAVELLE
You have been all over the world, Jack
What have you seen?
In most
places, s
I've seen
VAN
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Nobody ever found
a bottle of immature
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75-A-1
THE EONGKONG DAILY PRESS, SATURDAY, APRIL 10cm, 1916.
338-1
SHANGHAI STOCK EXCHANGE on a much easier one than it actually
IMPORTANT QUESTIONS.
turned out to be. I feel aure that the genuine adherence of members to the spirit of a marginal system would finally. Drsure its success and prevent a repeti At the annual generd meeting of the without the co-operation of the members tion of the deadlock of last August. Shanghai Stock Exchange held on the of this exchange no system of any kind 31st March the Chairman, Mr. F. He operate successfully, nor can Crossly, madle the following remarks, uphold any rule of this exchange. I commend this subject for the serious con- of considerable importance to the sharesideration of the now Committee dealing public of Shanghai:-
Gentlemen-It is a great satisfaction to me that I am able to address you to-day on the occasion of this, our annual, meeting, with the feding that the storms and tribulations which have attended the working of this exchange during the past few months are for the most part over, and in the belief that the effects on our local share business of the great national struggle now taking place has become so much clearer that it is capable of being estimated and dealt within a fairly satisfactory manner. Never since the memorable days of 1910 have your Com mittes been faced with such problems as thogo which presented themselves at the outbreak of the war At the outset it was exceedingly difficult to say whether our local share market would be affected at all, and, if so, to prophesy with any degree of accuracy the scope of such effect, and to devise means of assisting our members to arrange their affairs equitably and with a minimum of loss to all concerned.
The methods of conducting share busi- Bess in Shanghai are necessarily very different from those which obtain in places like New York and London, and it was not possible or expedient therefore for us to follow blindly the methods adopted by other exchanges for dealing with the situation. Our object was not confined simply to the prevention of a general slump through the free opera tions of bears who might seize the opportunity to depreciate the market; such a course could be, and actually was. obviated by simply closing the exchange. Our chief concern was much more thorny problem, VIZ.,
effect an
to
Trey
I must apologise for the lengthy nature of my remarks, but I feel that in my official capacity not only have I the right to place before you for your considera tion such matters as those to which I have alluded, but that it is my duty to do so.
LORD ROSEBERY AND RACING.
which we reproduce below from the Tames Lord Rosebery, in the powerful letter of the 5th inst., advocates the holding of the classic race meetings
Sir,I am afraid I cannot follow your reasoning with regard to Epsom and Ascot as set forth in your brief lead- ing article to-day. I put aside the remarks about the affair of the Epson Grand Stand, as to which there has been bol mis-statement and misapprehension, which I should have thought the matter. of fact statement of the Stewards of the Jockey Club would have Enally cleared away,
But that is a side, and I may add a false, issue. You say that our Allies
cur
cannot understand how Englishmen can go to race meetings when their country is engaged in a life-and-death struggle. With all submission I think our Allies understand as better that this.
They know that Englishmen do not think it necessary to pat up the shatters when ever they are engaged in war They know that we are paying two millions a day for this war, and do not think that we shall add the sacrifice of our thorough- bred horses, which are invaluable for the future of our Army. For, make no mistake, if our races are to craso
man can afford to keep bloodstock for the more pleasure of looking at them in the stable. You hope that there will be no attempt to hold meetings at Epsom, and, above all," at Ascot this year. Of what nature, may I ask, is the original sin attaching to these meetings? You record races of a very inferior character almost daily in your columns, sometimes in impressive print? Why do sanction these and saltet for special. reprobation the two noblest exhibitions of the shoroughbred in the world?
SEIGELS SYRUP
Prevents CONSTIPATION Removes
ISNESS
Napoleon for aning out the
HEADA
hour during the whole of the nonr- Battle of Waterloo ishment from the food was in a state almost of you take; and, when this collapse. He was a dys is done, the waste pro peptic. At a time when the ducts of digestion must be
an empire hang on eliminated, before the pel- ` his initiative and energy, they song they give off enter your falled him. In your own case blood. To secure this lake good health is just as necessary
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Mr. W. Twist, 17, Doctor's Nook, Leigh in Bedford, Lanc., wrote April 28th, 1914"About 10 years ago I suffered from chronic indigestion. I had to give up my work for three years. For eight months i tried various remedies, and then I was advised to take Mother Seigel's Syrup, Gradually I got stronger, and my cure if slow was sure.
INDIGESTION
14
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forward cratracts for transactions con- cluded before the actual outbreak of hostilities.
You
I will not weary you by recount ng th endless meetings and deliberations of your Committee, sometimes acting alone, and sometimes in conjunction with the members. Suffice it to say that our efforts have gradually resulted in the procedure finally adopted, a procedure which appears
to be working well and is bearing fairly on all the parties concerned. I think you will agree with me that your Committee bas, all through this trosolesome time, striven to act for the summon goed, sad that the unenters of this exchange me to be congratulated on emerging from such difficult situation not only with the good name and status of the exchange Why, indeed, should we embark of which you unimpaired, but with the conscious acts the unprecedented course that past events have made it possible indicate, and condemn all our historical to devise means to still further tonuli- practice! Ones before our country has date and strengthen the lands which bold.Bech engaged in à life and - death us together as an pratibution feended for struggle, at least as strenuous and mutual protection of the members ad public alike.
But you say our Allies will misunder- stand us. There are many, however, of on: French allies who will remember that the winter of the Derby was announced in General Orders during the Crimeas War.
desperate as this; I mean that against the French Revolution and Napolcon. All through that score of bloody years the Epsom and Ascot Meetings were regularly held, nor indeed does it seem to have occurred to our forefathers that | it was guilty to witness races while wo were at war. I remember asking the late Lord Stradbroke which was the most interesting race that he had ever wit nessed for the Ascot Cup. He replied | (I am almost sure, though i is outside my argument) that for 1815, which was ru o June 8th, eight days before Qurs Bras, 10 days before Waterloo, when Napoleon and Wellington were con fronting each other to contend for the championship of the world.
We are now passing through a passive phase, a time when business is entirely restricted to cash transactions, and very few even of those. Perhaps the present, therefore, is 症 suitable time to examine our methods and see it we cannot still further safeguard our individual, and common interests. Perhaps I may be pardoned for returning to the old and much thrashed out topic of "forward contracts." Now, gentlemen, the conduct of forward business is undoubtedly a very legitimate and profitable branch of the business of this exchange,
It 18, however, a type of business much more difficult to regulate and control than cash busines, and one for which it is therefore very necessary to provide strict and carefully considered laws and bye- lawa. You will know the recent history of the bye-laws relating to forward busi- ness You remember how we attempted to introduce a system of margins, and bow this was later found to be impractic able, chiefly owing to the opposition ourselves. shown by the share dealing public, and we lapsed- I use the word lapsed advisedly into the old system. efiève I am right in saying that the theory of this margin system had your entire approval; it was in its practice that the dificulty became apparet.
I am and desire to remain remote from controversy, but am anxious to remind you of our history and tradition with regard to this question, and to ask you to pause before you condemn not merely Epsom and "above all" discot, but also the principles and practice of ancestors not less chivalrous and humane than
ROSEBERY.
LETTERS FROM THE FRONT.
IRISH COOLNESS AND PLUCK,
my dug
Now that the first excitement and un-sends the following story, with the com P An officer at the front in a letter home certainty indident upon the outbreak of meat:-"I shall never now believe that war are past, let us pause for a moment there is on this earth any mon to beat the and ask ourselves if, after all, the war Irish for coolness and pluck." alone was catirely responsible for the
While eating my lunch to-day in complications which became evident in out I saw one of our jen chopping wood for August last. As a matter of fact, instead fire, about six yards in front of my dug-out, of rates depreciating we have had to just the opposite side of the road. This road record an appreciation of practically all is dangerous during the day
because share values except these of our friend the German snipers can shoot over it "Langkats." If the Langkat output from their trenches (enfilade). Well,
had kept to the lovet it was some weeks was the man and said to an
previous to the outbreak of war, I havo little hesitation in saying that Langkat shares would not have dropped, and that a similar risc would have been recorded as in the case of almost all other stocks. The main cause of this rommt general rise has, of course, been the plentifulness of money, through the non-employment of Funds in ordinary trade channels, and the consequent necessity of investing it
other (an officer who was at Coopers's Hill, by the way), "By Jove, that man will get shot if he isn't careful. No sooner had I said it when a bullet splattered near his herd. Then another between his legs. I REW the mud fly where the bullet struck. The man, who is the captain's servant, turned round to the direction of the sniper, looking towards the barrierway, and said, "Good shot, Kaiser! only be-jabbers you might
in local stocks which were more or less ha hit me though, for then I could ha' gone anaffected by the war. I maintain, there- home." fore, that the outbreak of the war alone cannot be blamed for the recent inbility
and proceeded to carry on with his remarks
singing
away
quite unconcerned, nntill
of certain operators to meet their obliga had to shout to him and order him to come tions. Was not this inability rather due away. Five minutes after he started roasting to the rash speculations which took place, a fowl for our mess in the same plece, singing chiefly in Langkate, during the fow away like a lark, "I often sigh for the silvery months immediately preceding the out-moon." I could hardly sperk with astonish break of the war? Were not our troubles ment at the coolcheck of theman, and just as], mainly the result of gambling on the part was shouting to hin a bullet came and hit him of certain speculators who had not suslap in thearn. He roared with delight and cient resources behind them to carry
them
went on cooking, and said, "Oh, I ain't going through in case of a set-back? Was not to leave yer m'birdy, but perhaps they the outbreak of war the occasion but not give me a pass home now," By this time I the cause of the deadlock? It has been had thundered to him to come in, which he a source of gratification to the Commit did, and having wrapped up the wound and tee, however, to find in the course of their licked it he asked for permission to get the investigations of the outstanding settle fowl, which he declare would be overciona! ts, that very little speculation had Before I could say anything he had darted been entered into by members for their acues and started singing while another own account, In the light of our present bullet went, whistling past his ear. This was knowledge of the nature of the extent of enough for me, and I went to the door of my the outstanding business last August, 1 dug-out and made him bring the whole thing personally am. convinced that rash in, which he did. Eegorms, but scat m' soul speculation on an insectre hasis was the if they ain't some marksmen," he cleerfully main cause of most of the trouble. If said, as he came int we had had to force a marginal system I think that he is a wonderful fellow and 17:3 such as the one we once agreed upon and can do anything. He told me that he has rescinded, I fool confident that the situs hat 14 narrow squeaks in this war, but that tion, to say the least of it, would have he isn't to get hit in this war evidently!
:
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This remarkable composed, the latest discovery of modern times, is without equal in all cases of defective nerve and brain power, whether induced by wony, overwork, dissipation, or other infoors Sleeplessness palpitation, defective circulation, nervous dyspepsia, tic or neuralgia, Sow spirits, mental and bodily prostration, want of confidence, general deɓility, premature decay defciency of the vital forces, loss of vitality, harassing dreams, restlessness that caz stile to aching, irritably of temper, female complaints, bysterie, backache, bearing down senations, wasting diseases, comsumption, night swesis, madds, higis-colound water, &c, are all so man different phases of brains and nerve wreckage and exhaustion, the case of by law the greate tion of the misery, 3-health, and despondency by which we are confronted on every hand, that can only be successfully combated by the use of this wonderful and highly scientific preparation. Bracing up the system generally, it gives tare to the exhausted nerves, arrests all wrekening wasting discharge, restores the failing energies, and imparte new life and vigour to those who bad to recently seeined played out, used up and valuelers," Bottles Price 28. 34.
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Never before was ibere anything like it, nor can its marvellom properties ever be equißed in ali casce of poorness, impurity, or other imperfection of the blood from whatever cause erising. No power is it Imbibed into the system than it permeates and potentes to the minutest capi arias, overcoming and expelling disease, wheresoever and in witscever form met with; removing bitches, pimples, surf, scurvy, scrofulous and glanduler swellings, discolorations, roughnes and ansigtaly patches, &c. Ils efects are almost mingical in time iratment of gent, rheumatises, sciulics, lumbago, pala and swelituge of the joints, discharges, blood, polsos, eczema, lepra, paaride had leges, bad breasts, abscesser, ulcers, wounds, sore, goitre or Derbyshire seck, I insproves the general heatth, and quickly removes long-standing bronchitis, asthma, and backšte#
·SİLİŞİNE, EDRAIpodle cough, too often the prectireor al consumption, Bottles Price 2a. Bd.
and stamped addressed envelope for free booklet, or P.0, 2/9 for trial bottle or nichar reinsdy, to THE VETARZO REMEDIES CO., GOSPEL OAK, LONDON. Unprincipled Vensore mky try to melt you something else for extra profit-do not seept it, bứt inelet con havljaj *ZTARZO. The genuine has the words " YETARZO REMEDIES" on Government Stump- VETLAZD REMEDIES ARE SOLD BY BOOT'B. PASH CHEMISTO.
131