Page
CORRESPONDENCE.
OUP CURRENCY MUDDLE,
TO THE EDITOR OF THE “BONORONG DAILY PRESS."}
THE HONGKONG DAILY PRESS. EATURDAY, SEPTEMBER 4TB, 1915,
years to rectify matters by receiving at par a certain quantity every year and de Bionetising it. In other words, the pro sent day ratepayers are being made t pay for the profit made on behalf of the ratepayers of 20 years ago,
The only solution, therefore, under the S--Your correspondent's (and your circumstances, is either to demonetise the ow ventilation of this question are time-whole of the subsidiary coinage and uso new coins on a par with our silver dollar, . Of what use is it for Government to
or, failing this, to hold in reserve sufficient define legal tender if all and sundey are ballion equal to the deficiency of the whole of the subsidiary coins of the Colony now ▲a liberty to defy the law ?...
in circulation, Either of those undertak- Referring to the notice, which you maw
ings, however, is of considerable mags- displayed in a contain public place, totade, but no doubt with the assistance, ut the effect that Silver Dollars will not be local bankers the prob'em could be accepted in payment of accounts, unlesstivel, say, by raising a lean on any one
of the following bases :- at the current rate of discm, it may Te is well to point out to the public that if anyone refuse to accept legal tender, Le, Hongkong, British or Mexican Silver Dollars, in satisfaction of "debt, the debtor is freed from the noosity of again tendering payment, and may leave the creditor to collect the debt through the Court. Upon receipt of a writ, debtor need only pay into Court, in any of the above coin, the amount due, and the creditor will have to bene all costs.
CHINESE WILL CASE.
SETTLEMENT SUGGESTED.
HONGKONG SHARE MARKET.
Messrs.
Vernon & Smyth, in their weekly share report dated the arļ September state:-
An interesting stage was reached yes terday in the Chiness will cage, cu
of With the exception of a sharp recovery for the defence suggesting ternes
The dispute, which has and substantial advance in Douglases, and settlement, caused considerable litigation at the Supreme Court, is over the adminiera a further decline in Indos and Sugars, tion of the estate of a Chinese, and Howhich, however, close steadier and n Say Lam, the plaintiff, of 2a, Park Road elaimed to be the natural and inwfulsome request at the lowest rates touched, brother and text of kin of the deerased the local market has ruled quiet bist fairly and that as such he was entitled to letters- of administration of the estate which steady during the past week with a were granted to Ho Cheng Shi, Quem moderate volume of business only to report Victorin Street, the defendant, on Jah upon. Shells and Ura? Caspians have been uary 22nd, guardian of Ho Shan Yan alleged to be the adopted son and one bought from London at about just rates Assuming the subsidiary coins in eitem of the next-of-kin of the said deceased, quoted, the inter showing a tendency to lation to be $25,000,000, and the deficieny Plaintiff asked that the letters of admini- in fineness, say. 8 per cent below thestration be called in, revoked and impr. Plantation Rubber is quoted in of the silver dullar, this equals $2,000,00). declared null and void an the grounds London at 2/43 buyers, and Standard Tin 15 would be necessary, therefore, to have that the defendant had no interest in the ballica reserve equal to this amount in estate of the said deceased, and also that at £151. Bor Silver has advanced to 235-10d, and Sterling T.T. to 1/97-18. order to raise the subsidiary coins to par he had no right to be elected guardian Shanghai T.T. is quoted at 781 and the and to enable the Banks to accept them go of He Shan Yan, and that defendant was the same basis as silver dollars.. To ob not entitled to administer the estate of Bank's buying rate for 3 dịa bills on that tain these $2,000,000, either a Public Loan the decensed, and that such letters of port at 70%.
BANKS.-Hongkong
Shanghais would have to be raised, or, belloy still, administration were granted irregularly,
under the pressure of selling orders Bank redeemable in 25 years at an interest tions entitling the defendant or Ho Shadeclined to 8, at which rate the market & lean aranged with, say, the Hengkong as no proof had been made of any condi of, say, 0 per cent, per annum,
Yan to administer the estate of the said closes with sales and further small buyers. drerased. Colony, if this were done, wall have to
Mr. E. H. Sharp. K.C., and Mr. C. There should be no question of Governs. Pass a liability for the first year, the inter Alaister (instracted by Mr. Ggist)
$52,000 pen-plus d20,000 13 fe as
were for plantiff, and rider Potter ment having to take any steps in regard deemed, or $200,000 in all. At present lex, Mr. B. C. Jenkin (instructed by Mr. Lo British. Hongkong or Mexican than half this amount. I believe, is being. 3. d'Almada and Mr. Haywood, of Dollars; the law, as it stands, is suflicient. spent annually with no appreciabig result Mr. Lo Almada's office) wer for
whereas if the above suggestion were defendants. Nevertheless, in view of the presented it would at oner raise the subsuli- Mr. Potter said that the defence at farcient situation, it might be advisable ary coins to pur. But, on the other hand, that moment was prepared to make for Government to ennel a short Ordi- in do this all at once would be inadvisable, suggestion and to do what he thought The Government. was most wasonable, and the was that nance providing for the punishment of for obvious reasons,
should, therefore, give notice in the estate
The
and
INTIMATIONS
LANE
CRAWFORD &Co.
ESTABLISHED 1850.
JUST ARRIVED
IN
COLD STORAGE:
MARINE INSURANCES-Unions are pro FINEST SCOTCH SALMON.
curable at 8972, and it in reported that a
fairly substantial line has been done at
this rate.
"Small
consideraby, und s buyers might be found at about $960. Cantons are firmer with buyers at 8400, North Chinas closing in request in the) North at 214, 160 and Yangises at $213 with ex. 73
FIRE INSURANCES-Chinas have been booked at $162 and 8103, and continue in
SCOTCH HADDOCKS.
HERRINGS
KIPPERED
anyone "found refusing to accept any of stringe de this effect, and només ten lavede of the infant should be request at the former rate: Hongkong YARMOUTH BLOATERS.
the above didiors at par, or offering a Premium on notes exchanged for the
and inform the public that on and after the day mentioned the banks will receive subsidiary coins at par. This would not
are wanted at the improved quotation of
SHIPPING-Douglases recovered rapid $410, but are still unobtainable.
coins. At the same time, the Mexican upset the market in any way, and would be to his mind eminently desirable bly after the settlement to 870 with sales
dollar should be demonetised, and, if Government should feel nervous about
have the effect of gradually reducing the discount on these coins until the day men.
possible influx of Hongkong er British [tioned, when they would, as a matter of to be left out altogether did not know. holding for still higher rates for further
Dollars from China or elsewhere, let it be made an offence for anyone" to bring into the Colony more than fifty Hon kong or British Dollars at ang one time. That Bank: Notes; e.. Promissory Notes, should be at a premium ver kgal tender dollars İs decidedly "Uilbertian," What if an issing Bank should suspend payment ?" 118 Boto might be met in full, but the prob abilities are they would it, whils Silver Dollars will always be worth their bullion value, and this is exactly the value which the natives, are now trying to reduce them to
|course, stand at par.
Ho Sau Lam, the brother of the deceased it fut. Na kung Wan, and the present Such an arrangement would defendant. cause it would bring in all parties.
Mr. Sharp asked if Ho Sau Lam way Mr. Putter said that he The defence had its view of the facts One other suggestion: the bullion held in
and it seemed to him that the suggestion stuck could be invested in gold-edged secu-might settle the whole mater. They rities and this made to bring in a return would them have the plaintiff a partner, to offset the interest on the loan payable the uncle of the boy, and the defendant. the bank.
Regarding the later the defence had very strong views as to her legal position, and his lordship would see that she and the boy wore extremely fond of one another. She had looked after him for IN of him.
ten years and had in fact taken sold He suggested that these threw people manage the estate for the infant if there was nobody elsa
Thanking you for the courtesy of your columns---You're faithfully,
COINS.
Hongkong, September 3rd, SPORTING COMPETITIONS
WARTIME.
SHOULD THEY BE ABANDONED?
(TO THE EDITOR OF THE "HONGKONG DAILY PRESS,"L
}
and buyers, and have since advanced with few sades to a laying rate of $77 for cash and 882 for December delivery, selles quantities, Indo-Chinas under lower sell |ing quotations from London have declined to #141 for the combined Preferred nal Deferred, but are now in request at this rate, and sent 855 for the Preferred separately, and at $148 for the combined fur Decembr felivery. China ณ Manilas are wanted et 40 cents, and Star Ferries at $35. Steamboats have recedent to a selling quotation of $20, but at SU there are buyers.
Ons. Shells have been booked at 91- and more shares aris procurable. Ural His lordship observed that the arrange Caspians have been bought from London ment seemed to be excellent At preat 38/9, and are not now obtainable under sent they seemed to be dealing with ly40/-. Langkats show little or no change, a family quarrel.
the closing me being Ths, 371 with report- of buyers in the North.
As to Subsidiary Coins, Government should seize the present opportunity to
Mr Potter-Yes, and we are desirous buy, in the open market, all they can,
of putting an end to this quarrel by and place them in the Banks, refusing
S-It is only with a considerable protecting the estate and protecting the applications for re-issue notil such time effort that one can bring oneself to think infaut. It is not defendant's desire to ns the evin is again at par. That the
She has to lake present time is opportune is indicated of such streuung things as football, deal with the property. by the reappean ance Hongkong cricket, and tennis while the hot weather out administration and she is quite pro
REFINERIES-China Sugars are slightly lower on the week at 8125, but at this there are buyers and also at equivalent rates fr forward delivery. Luzens are
Twenty-ochi picces-slowing that the Tenis still with us, but the calende indicatespared for those people to come in with quiet and close without feature at $39
If Government-bas-insufficient fu dst buy up the ecins an overdraft of loan might be arranged, and, after allowing for interest, the present discount could still show a profit.
This would prevent a recurrence of a plethora in the eirculation.
Any further legislation enacted by Government to ameliorate the situation should not be permitted to be an excuse traders to raise their prices, as all tive retail business is already ran Busted on a sub-coin basis, and the dis
more
her and so protect the infant's interests, It seemed to me very reasonable and would work very well indred.
Own.
If he
Mr. Potter mentioned that Ho Sau
notrial.
MININO. Rubs are easier with smail- sellers at. 83.80 Tronohs can be placed at 31/- and Kailans in small loig at 30/-.
LANDS. HOTELS AND BUILDINGS.--Hong-
at no ant
BACON
WILTSHIRE
YORK HAMS.
TELEPHONE NOS. 1741, 1742.
LANE, CRAWFORD & CO.
SAKURA
BEER.
THE BREWERY'S OWN BOTTLING.
TRADE
MARK
Sukara
BEER.
TEIKOKU BREWERY CO.LTD. MOJI. JAPAN.
Hongkong, 12th Augast, 1916.
SOLE AGENTS:
SUZUKI & CO.. ALEXANDRA BUILDING, TEL. No. 468.
[835
PRINTING & BINDING
OF EVERY DESCRIPTION EXECUTED AT THE OFFICES
OF THE
count fully provided fox. Ruber should from the Asiatic element, of members of Caftos and that it would be 48 hours being chant, Unger "HONGKONG DAILY PRESS,"
cant doromination is shrinking in supply. that the cool season is drawing near, and
When the question of taking steps to prohibit the circulation of Chinese com sporting Clubs will be making pre.
Mr. Sharp, for the plaintiff, said that subsidiary coins was first raised, shininary arrangements for participation he understood that the, sperin objection DOCKS, WHARVES AND GODOWNS.-Hong- five or six years ago, Government west
was to the concubine (the defendant). kong and Whampoa Docks have been sold tou timid to take the bull by the in the above-mentioned games. The very horus and legislate accordingly, be proper attitude adopted by the control Counsel added that the evidence he would at $4 and 674 cash, and at $76 for call would go to show that it would be October delivery, and close firmi. Kowloon They were forced to later on, and the ling bodies of sport e Home with
repugnant fo Chinese family life ideas Wharves live been done at 875 and $734 result has proved the step to be correct respect to competitions has probably to have the woman in it.. The plain and more shares are wanted at the former by a reduction in the discount.
those Before the Ordinace came into force, prompted
immediately diff had never had a desire to act alone, rate. New Engineerings are quoted in sub-coir they could afford, in anticipous athletio Clubs in the Colony, to com- Bút thousands of Chinese bought up with responsible for the direction of the war but he had desired to act with his elder the North at Tls. 91, Shanghai Docks at brother, whose interests were certainly Tls. 0, and Hongkow Wharges at
It his identical with tion of its going to par, which resulted in nearly if not all of the coin finding its sider whether or not the action of such was still felt that would be the best T. 94, ll with buyers.
arrangement if the elder brother wag
kong Lands are quiet with probable way back into Hongkong.
authorities should be followed here.. 10
not consent. Mr. Sharp did That the market is manipulated by the
As is pretty well-known, the Football see why he should not, but it had buyers of small lots at $109. Central Rep money changers is evident. credit one shop, which started on Association, after weathering all the been suggested that the plaintiff and his state; have been done
further request. Kowl:cn capital of $3,000, with paying a yearly storms of criticism of its business-much elder brother were so hostile as to make Humphreys Estates at 801, the latter
as-usual policy of last season, has now the arrangement unworkable,
If that closing in dividend equal to its capital.
ordered the suspension of all Leagues was so, the fault was not on the plain Lands are unchanged with buyers at $f), and. Competitions under its jurisdiction Eiff's side. The head of the family was ad West Points at but again there. for the duration of the war, while the one of the people who should be intris no business te report.
COTTON MILLS-All descriptions in this Championship was duced into the arrangement, County Cricket automatically closed on the gabronk of refused to act there was nothing more section have advanced, the closing rates war last year.
to be said. There was a strong feeling being as follows:-Hongkongs 881 buyers, The shortage of sub-coin would soon
As far as the Home countries were con- about the concubine which he did not Ewos Tls.. 150 buyers, Internationals T restore them to par, and Goverment
He would call 92 buyers, Lacu Kung Mows Tb. 891 would exercise discretion in reis uing, cerned, this action was sound and prae think could be overcome. such as making due enquiries of applitical policy, but the question is whether Mr. Rose, who had a very strang view bryers, Kung Yiks Tls, 16] buyers, after concubino should Hot bosades at Tls. 17, Shanghai Caltoos Tle. 195. cants as to the necessity of their require Hongkong is not on an catirely different that the
buyers, and Soy Chees Tls. 47) buyers. ments, the uses to which the coins were footing. None of the arguments adduced appointed.
Mr. Potter said peculiarly enough he MISCELLANEOUS.-China Borneos have to be put, and limiting the amount to be against the continuance of football at
Home can apply in the smallest degree had strong evidence to the contrary. been booked at $10, China Lights at $4.30 issued to any ono applicant.
to Hongkong Here prastically all who, Mr. Sharp said that the woman was Chica Providers at $8.85, Cements at play football are under Military right to take the physical care of the $8.15 and 88.20. Electrics at 842). Ropes Naval service, the members of the only infaut, but Mr. Ross had conveyed to him at 828, Trams at 85.15, Peak Trams, at civilian senior Club being almost wholly the impression that it would be most go, and Watsons at $6.80, all closing with in the Volunteer Corps, and all on more improper for her to act in the adminis, further buyers There are sellers of Water or less active service. The onlookers who tration of the estate,
Boats at $17 and of Providents at 88.00. attend local matches do not include any
MENOS. NL Settling Day: -Septem- hangers-on," being composed, apart Lam was in the Sui Lan village near
before he could arrive the Colony. He instant, transfer Servios. Competitions provide the life of Hong-had a strong feeling that the woman had books closed from to-day until 17th inst., inclusive Hongkong Hope Manufactur matter of legal right kong football, and interest in the game, strong claims as ANTI-SQUEEZE.
excepting, perhaps, on the part of those and he thought he could make an overing Co., Ltd., interim dividend of $1 pe share payable 6th instant, transfer books who play regularly, would rapidly wane whelming case in her favour
closed until thet, date, if merely "friendly games took place.
Mr. Sharp-Perhaps he could; I do nos Football is one of the few really welcome know.
Mr. Potter repeated that his was alo SIA,--The suggestions offered in your diversions of the members of the Services
in Hongkong, and the Saturday League attempt to settle the matter. The leader a few days ago for solving the pre-
match or Cup-tie is eagerly looked for woman bad in fact cared for the infant sent unsatisfactory state of our subsidi.ward to. It would be hard, for reasons for ten years and there was no reaSON why the dispute should not be amicably ary coinage question will not, I am afraid, that could only be sentimental and un-
practical, to deny then this little settled if the plaintiff got rid of the
The withdrawal of the Pacific Mail assist the Government or the public very harmless excitement,
prejudice which ho apparently had for Steamship Company from the trans- At the same time there are not a fow, the defendans. The other people did not Pacific service makes it necessary to find
I SAY EMPHATICALLY buch, nor will the Companies mentioned be acting wisely or beneficially if they fol- probably, whose sentimonta inolinations seem to hard found fault with the sug-some other agency for the operation of
aro strongly against the continuation of gestion.
the annual 400,000 balas of American cot
That Sciatica, that most excruciating Mr. Sharp-We are desirous of a
of anlatics, can be cured! LITTLE'S fow your advice and hoard up their rethe various Competitions and who hold eipts of subsidiary-coins. Such ten football should be played purely for the is to be attained does not seem to been deliberating, and a Tuesday years of misery. It will cure you." that, under the prevailing conditions, settlement, hut the footing upon which ton hitherto brought chielly by this com
pany Japanese pollon merchants have ORIENTAL BALM eured me, after five measures will only handicap the sport of the thing, and not for the pro- common ground.
The Judge remarked that each side arrived at an agreement that they should That voices the sentiment of one grateful request the Nippon Yusan Kisha and patient, Thousands of others are ready Government anal the Companies concernel mise of reward that sweatens the foot-
baller's labour and adds to the spectator's would call its expert and each expert the Oaks Shosen Kaisha to place a suf- to join in the chorus of praising this the
zest and enjoyment.
would be positise he was right and what
of steamers the remarkable dispellor of Sciatica and and have absolutely no effect on
Unablimity is essential among the differ.be would have to do would be to give an ficient number market.
ent Clubs, and sporting Club officers opinion and that opinion would probatis. American run, and that, should this Rheumatism. Is benign influence is felt- would be well advised carefully to conge to the Appeal Court, no matter which request fail, the catten merchants should from the first application. Oftest only néczmary one bottle is required to make a 'com. sult the views of their members on the side lest. In those circumstances he would steamers so that importation should be plate and permanent cure. Sometimes it matter, to save any unpleasant criticism be glad if a settlement were to be arrived uninterrupted. The Nippon Yusen Kai vill take two or three or more to do the
Taking the common-sense view, there Mr. Sharp asked that supposing the sha, Csaka Shosen Kaisha, and Toyo work, but it always gets there, surely could be no objection to the can head of the family agreed to act, would Kisen Kaisha expect to be able to trans-suffer longer these terrible torments, yea
port 200,000 bales, but it will be very have always yourself to blame, tinuance of sporting competitions here, there be any objection. but the sentimental side of the question Mr. Potter mit he did not think so, difficult to get extra gezmere for the despair just because other remedies have cannot altogether be ignored. The basis but they were all very desirous that the transportation of the remaining 200,000 failed to cure your Sciatica. LITTLE'S As a matter of fact, do small difficulty ORIENTAL BALM is different from all of all patriotism is sentiment, and those woman should be included for many
attends the importation of een Indian other remedies. It oures, as thousand BDTOLUMES of the MONOKONG who hold the view that competitions reasons.
On the invitation of his lordship cotton on acerant of the scarcity of tonean testify. should cease cannot be completely
Perhaps some of your counsel retired and discussed the matter age available any osasit seems Sold at is. 4d. per bottle. disregarded.
Agente for Hongkong: that Japanese importers of American
Messrs. A. 8. WATSON & Co.. Lr. readers might like to give their opinion with his lordship in Chambers.
It was subsequently agreed that the cotton find themselves confronted with a
(414-5 ca the matter.-Yours truly.
SECRETARY. case be adjourned sine die.
very difficult problem.-Japan Chronicle.
the a reduction.Yours faithfully,
ary
(TO THE EDITOR OF THE HONGKONG DAILY PRESS.").
There are two main points which must
not be lost sight of:
The quantity of subsidiary coins
circulation ut present, in spite of the large sum demonetised, is more than the needs of our Colony.
a These coins are deficient in value, i.e.. 10 ten-cent pieces do zot contain as much silver as a silver "dollar, and therefore the Binks will not accept these coins at par with the Colony's silver dollar.
The Government some years ago issued these coins and made a fair prout en then and they have endeavoured for the past few
hereafter.
"
ast
PACIFIC MAIL AND JAPANESE
COTTON DEALERS.
endeavour to charter
the
071
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Hongkong, 10th August, 1915.