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[764
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105
HONGKONG DAILY PRESS. TUESDAY, JULY 10TH, 1917
BRITISH TRADE BANK.
TERMS OF ROYAL CHARTER.
There was issued recently as a White. Paper the Royal Charter, incorporating the new British Trade Bank, which is to be known as the British Trade Corpora tion, together with the terms of hedood of settlemáns under which the operations of the institution are to be regulated. Its general object will be to assist the development of British trade and indus tries, to procure for British manufactur ers orders in connection with now Over- seas undertakings, and to finance tracts in connection therewith.
The board of directors is to be con- stituted as follows:--
Lord Faringdon, the Right Hon. Frederick Huth Jackson, Mr. Arthur Balfour, Mr, Frank Dudley Docker, William Henry Neville Goschen, Mr. Mr. John Henry Brunel Noble, and Sir Janes Hope Simpson.
con-
Clause two of the Charter, which is dated April 21st, last, sets out the objects. and powers of the Corporation follows:-
A
CONSCRIPT INHERITED.
FORTUNISI
BISHOP BRENT'S SUGGESTION.
SHIPPING NEWS.
THE CHARTER OF STEAMERS
=
JAPAN'S EXPORT TRADE.
INCREASING SHIPMENTS OF: ⠀⠀ MANUFACTURED GOODS. Investigations made by the Department of agriculture and Commerce show that with the progress of the war the value of shipments from Japan of manufactured goods is increasing Shipments from January 1st to April 30th this year amounted in value to Y.156,769,732, the
With the progress of the war, the char Conscription of inherited fortunes is terrats for Japanese stürmers are fast According to contracts on suggested by the Rt. Rev. Charles H. advancing. Brent, Protestant Episcopal Bishop of tered into between various parties last the Philippines, who recently returned month the rate of a steamer of over 2,000 to America from the battle-front in tons to ply in Japanese and Chiness France and who declares that universal waters is fixed at Y.22 per ton, that of service in the most literal sense is needed astenmer of over 6,000 tons to be used to win the war. As a part of a general on the American service at Y.39.50 per figures having an increase of Y.57,410,398 plan of such service Bishop. Brent urges ton, and of a steamer of over 2,000 tons as compared with the corresponding that the abolition of large private in- to be employed on the Indian and Aus-period of last year. In commercial and tralian services Y20or Y.27 per ton. It industrial circles the belief is expressed heritances be considered seriously. He is generally thought that the rate will show not seeking to promote" such a scheme still farther rise in the near future that the value of shipments for the first as his own solution of our vast econoThe following table shows the rates of half of the current year will exceed
Y.200,000,000. The following table shows- mic war problem, but says he heartily vessels contracted for a period of one. believes that in the practical considera-|| year :---
the shipments, of principal manufactured tion of "ways and means" at the pro-
articles during the first four months: sent time the question of inheritance con- Rcription should be taken up in detail.
The possibility of the present taking aver by the Governhient of Jurge inherit ed, fortunes was first brought to Bishop Brent's attention by an American who is himself very rich. Since then, he has given the matter keen attention and dis- cussion. He does not regard the con-
The corporation shall be established for a term of sixty years commenting from the date of this our charter for the purscription of inheritance as a disadvantage.
of carrying on the businesses of for the person from whom the large pose trading and banking in any part of the legacy would be taken; rather does he world, either by branches, agencies, or look upon it as a definite gain. otherwise, and particularly (but without restricting the general scope of such businesses in any of their branches) with the following powers, objects, and rights, which shall nevertheless be exercised at
The younger generation would b deprived of the individual wealth of their fathers," he pointed out," but they would be beginning their lives with equal opportunities in a country of better
Vessels Katori-maru
Takavoir-marut Mogami-mara Chiyoda-vidri Kaya maru Ryola-mara Kashima, nati hour-at Vray-mart
Rate Tonnage
Yen.
00:36
Yen.
Yon
2,70000
Cotton Yarn
34,440,000
21.00
2,500
Habutae
15,252,000
24.00 3,200
Matches
6,698,000
£25.00
2,100
Cotton Hosiery
5,348,000
20.20 3,460
Other Hosiery Article
3,720,000
$3.00 3,250
Glass and
Manufactures
thereof
4,310,000
Paper
4,018,000
Buttons
2,507,000
Hote
2,927,000
Woollen Cloth
2.123,000
Toys
1,820,000
Leather Manufactures
1,260,000
Cotton Towels...
1,218,000
1,010,000
1,021,000
99.00 3,680. $3.50 5,100 132.50 3,500 Araërien-maru No. 2 ..... 13:50 · 0,800
STEAMERS UNDER CONSTRUC-
TION IN JAPAN.
The total number of stenters offer 1,000 tong which are now under construction or designing at the home yards under the sanction of the Japanese Department of
tonnage of 1,178, which may be classi
Silk Handkerchiefs Umbrellas
all times subject to due conformity, with opportunity, not weighted down by an Commanications is II, with no aggre CHINESE AT THE OLD BAILEY.
the laws of the respective countries con cerned, with due regard to the int, rest of our Government:-
()-To act as agents for any Govern- ments or authorities, or for any bank ers, manufacturers, merchants, ship- pers, and others, and to carry on agency business of any description including the power to act us attorneys and to give discharges and receipts.
(b.)-To carry on business us con- bractors, merchants, or traders on their own account.
enormous debt and financial burden,
Kawasakis
The idea of the abolition of inheritfied as tollow, according to the yards; ance is not now. It has been suggested inny times, to be accomplished either by the imposition of very high inheritance faxes or the prohibition of legacies over
certain fixed sum. I am not urging it as my solution of the present situation, but I consider it worthy of the gravest consideration.
According to the charter of our liberties, all men are born free and equal. Of course, they are not all born equal. Some are allowed to start their careers with a tremendous handicap.
(c)-To promote or finance or to assist in the promotion or financing of businesses and undertakings of any description, and to develop and prove
I have in the fairly recent past spoken the manic, either through the instruin a great many boys' schools. For the mentality of syndicates or otherwise, most part the students were rich boys. and to act as an issuing house.
And have always taken the position (d)To enter into any partnership that it was a most unfortunate thing for or other arrangements for sharing pro- a buy to hate his own chequebook, unless fits or on joint account,
he bad frst learned to can his own bread. In nine cases out of ten it is an vil result of inheritance. What it does is to debase the value of youth. The other securities or interests of any combor depends on the chequebook instead of panies, trusts, or corporations, or of himself. any Governments, States, provinces, The idea of such abolition of large municipalities, or other authorities.
(.)-To acquire and hold or dispose of any shares, stock, bonds, obligations, debentures, debenture stock, strip, or
Osaka Froin Works Uraga Dockyard Mitsubishis Asatios..... Fujinagates
20
.
115,500
38
180,000
16
85,638
ม
63,500
U
49,630
G
Ishikawa-jima
12,700
K
12,600
4
D.200
Matsuo Iron Works
Larettas Harimas...
2
6,000
18,500 2,000
Onos
Total
561,178
DISOBEDIENCE ON A TRANSPORT.
The de
Sixty-four. European timers and fire men of a hired transport were charged before the magistrate at Bombay on Jane 15th with combining to disobey the lawful orders of the master. It is stated that they and refused to get up steam. fenec was that Arabs had been engaged as crew. Captain Hughes, R... asked guilty he should inflict upon them the that if the magistrate found accused maximum penishment allowed by law, Owing to accused's conduct the ship had
magistrate convicted the accused.
NOT BEHEADED BUT DISCHARGED.
Two groups of smiling Chinese, num- bering seventeen all told, filed out of the Old Bailey on May 16th and returned to the East. End.
They were arrested some time ago as the result of a faction fight between: Chinese union and non-union seamen, in which the rivals met in the East India Dock-road and injured one another with knives, life-preservers, hammers, chop pers, bars of iron, and daggers.
At the last scasions they refused to plead at all until they were assured they were not to be beheaded, but when sentence was deferred, and icy were re moved to the cells, their fears and lameji tations returned, They were still very dubious about the future when brought before the Recorder on May 16th.
been assured that all danger from these The Recorder now stated that he had rival factions was at an end, and the dis
ger, for passers-by had not been attacked. and the Chinese went quietly with the
To acquire and hold or dispose inheritance is the very antithesis of been detained, costing £500 a day. The turbances had not created any public dan-
Socialism. Socialism tends to decrease
ways, ships, canals, decks, harbours, the freedom of the individual. The prin regretted that the maximum punishmaticitor Tho always do, my lord,
STANDARD OIL PROFITS.
A, REMARKABLE SHOWING..
A.
presentative of the union to look after them until ships were available to take them away from Euglaad, the Recorder. sentenced ench nam to taro days' im- priscoment.
of any interest in any railways, tram- armament works, shipbuilding estabciple of making it impossible for any which he could inflict was only twelve Hishments, irrigation works, electrical youth to individualise it would neteks rigorous imprisonment. He passUpon an undertaking from a Chinese ru works, gas works, water, works, and in principle of acted that sentence. addition
any
carrying, transporting, to increase the freedom of the individual. trading, industrial, agricultural, finan In drawing nearer to actual equality, it i cial, or manufacturing works, concerns, would offer to the young man more op or business of any description, and to portunity of individual development and carry on the same.
individual value. It would make the
The prospect of returning to giol creat ()-Tu noquire and hold any inter-individual more important to the State
ed dismay, but when the interpreter ex- est in and to develop the resources of, because of his own innate Value of and turn in account, deal with, pledge, individual democracy instead of on a York's statement for 1916 is one of the sentence meant their immediate discharge The Standard Oil Company of Now plained, on behalf of the Recorder, that the and dispose of any territories, forests, principle of Socialism. It would mean mineral fields or other lands, posses equality of opportunity, and that is the Oil Company (says the Christian Science as they left the dock nearly reuched the most remarkable ever made by a Standard their relief was anasing, and their smiles sions, buildings or property, real or basis of democracy, the basis of our Monitor). personal, immovable or juovable, in any
Its surplus of more than roots of their pigtails, says a London. nution-what we are fighting for. In the 208,600,000 is equal to 90 per cent. of its per, part of the world, including lands,
present time of need it would release an entire stock. Its surplus last year in buildings, and other hereditaments in
In tho the British Islands notwithstanding the immense amount of money, and free the creased more than 842,000,000. provisions of any statutes of mortmain country from a great future burden.
past two years the surplus has grown or any other statutes or laws to the situation in connection with the known of the increase in surplus last year is due I have thought very seriously on this $52,000,000. Approximately $11,000,000 contrary
()-To undertake and execute any
effects of the civil war on the South. I to appreciation in val of equipment of companies notably the trusts and to act as executors, admisis- think we can say that the civil war did subsidiary
rators, receivers, and treasurera, and to give any guarantees,
of
..
совралу,
in large degree stunt the whole develop-Standard Transportation Company, its ment of the South, in laying on it so big marine transportation (3)--To obtain, work or dispose of tremendous a financial burden. We want which took over the marine business of the New York company in the latter half of any concessions, charters, Acis
to avoid such burdens as much as po 1915, and which had an exceedingly Parliam at, or other legislative rights, sible. monopolies, licences, patents, copy- "Of course, I realize that there would prosperous year in 1910.. rights, or other privileges or advau¬ be all sorts of difficulties in working out tages.
such a scheme to a practical conclusion. There is. For instance, the question of the large businesses that must contique, and that must not be disorganized upon the death of the owner or proprietor. But it is, I believe, worthy of the most careful personal consideration at this time.
()-To establish and maintain information and investigation bureaux, and to collect statistica, returns, parti
alars, and information likely to prove useful for the consideration of busin. and financial propositions, and to undertake experimental and research Work,
(1)-On behalf of any Governments, authorities, or corporations to keep any registers relating to any stocks, shares debentures, debenture stocks, or secur Lies and undertake any duties. J relation to the registration of transfers,
issuing of certineat,s, or otherwise,
CAPITAL OF £10,000,000.
front at Arras the men came in from
The whole principle of this war, Bishop Brent went on, after a slight wars, because it is not a property war. pause, is that it is dificult from other
INCREASE OF PRICES.
COST OF FOOD NEARLY DOUBLED
SINCE WAE BEGAN.
The statistics of the course of retail
prices of food given in the Board of Trade Labour Gazette, published on May 18th show that on May 1st prices, no
compared with July, 1814, had increased by 08 percent.. If eggs were omitted from the dietary, margarine substituted and fish reduced to one-half of that pra- for butter and the consumption of sugar
Der
the trenches to the service--it was in the thick of the ught and went back inevailing before the war, the general mediately. That was only a few weeks centage since July, 1914, instead of being
go, yet probably not 20 per cent. of those, would, be 65. men are alive to-day.
As compared with a year ago,
retail prices showed an average increase of 23 about. 65 per cent. over the 12 months, per cent. The prices of potatoes savane- and those of cheese and eggs nearly 50 per cont With the other articles ing cluded in the returns the increases ranged from about 20 to 30 per cont, except with, advances were 13 per cent, and. 8 per cent. tea and, granulated sugar, who which the respectively.
"I have presented the plan. as the man who first discussed it presented it to me, along the lines which he thinks prac ticable. And he is a man of wealth and We are fighting for the rights of position, whose whole-hearted suggestion personality. Therefore, no service can with the willingness of our country to sonality. In the old days wars were of such a principle impressed me greatly be effective except the full power of per make whatever sacrifice may be called for. fought for territory, and, in so far as It is provided that the Corporation I have had cause to feel that very deeply they were thus fought, they placed pro The prices recorded for butchers" meat shall have the right to act as agent for the "Of course, the conscription of in-perty above hamian life. In the old wars at May 1st showed increases over those Government in cases where the latter is heritance works in with the principle of men fought for property with human life for July, 1914, ranging from 74 per cent.. desirous, as the result of arrangem its general compulsory service. If it is we are now fighting with human life and for British legs of martton to 182 for made with any Dominion or foreign State right to claim that our manhood should with property for the human right to frozen breasts of mutton, the rise in aver- that British capital shall participate u serve the State, how much more right is
age prices ranging from 6ld. to 7id. per financial operations not falling within the it to claim that what is so much less This is very far from being 16, according to cut. The prices of terms of any agreement with other parties than manhood-wealth should also serve capitalistic war, It is a war of the siderably more than twice as high as in sugar, fish, potatoes, and cheese were con existing at
at the date of the charter. The the State. If we compel personality wa plain people. Government will, however, have power to should certainly compel property.
July, 1914, and those of flour and bread appoint other agents where necessary or Yet in the true sense it would be no phasis upon the general principle of level. Advances of about 70 to 80 per
And we cannot lay too great em were at, roughly, double the pre-wa expedient, roospital of the Corporatio compulsion, as military service is no com service," he summed up.
The share capital of the Corporation pulsion. There can be no compulsory about the war and its needs and what it bacon, butter, eggs, and tea, and of about When I think cent since July, 1914, were recorded for will
le £10,000,000, with power to increase service in a democracy. If democracy, in demands of us, I think, as of a text, of 60 and 55 per cent, respectively for milk this total, and to borrow or pledge the Lincoln's sense, means anything at all the sentences that I saw on the wall of and margarine. Corporation's er dit as provided
wider the Deed of Settlement. ded wider government of the people, by the people, the soldiers reading and writing room in Business is not to be commenced until for the people it is obvious that it the fortress of Verdun: Germany fights
to oppress France fights to set free. O at least $1,000,000 sterling of the capital means that the citizen is the Government has been subscribed, and at least one and the Government is the citizen. Conse the iste of France depends the fate of the GERMAN TRIBUTE TO SIR D. HAIG. Fourth of that sum has been actually quently, there can be no such thing as paid up:
The Rheinisch-Westfalische Zeitung compulsion in the registration of the That is very fine, and it is perfectly must remain British citizen for service in the need of the true England and Belgiure un devotes a one-column article to Field- in character and free from foreign con- State,
Douglas Haig,
Bigned 1016 Now we have awakened to it. I Marshal Bir trol, and must have their principal
"Mediator." The writer says: The heart of the whole principle of den's like to hear Americans say, house-
Field Marshal Haig is certainly one of domicile and principal place of business compulsory service is that it must be for fully, that we are fighting unselfishly the ablest generals of contemporary Eng- in England, and the controlling board of peace as well as for war. We need the the French have been fighting unselfishly land and like the majority of able Bri organization of all our resources so as to it is quite true that we are fighting for tens ho is of Scottish descent. As in the These conditions are set out in detail in relate the ability of man to the needs of others, and that we have no thought of ease with all officers who served under. the deed of settlement, which also con the State, whatever those needs may be conquest or spoils. But it is also true Kitchener, there is very strict discipline tains provisions for the holding in Eng. And no man should expect thanks for that we are fighting for the right to live under his command. He is a serious and Iand of the controlling board and general such service any more than for paying for ourselves. meetings of the Corporation, for the prehis taxes.com" added the Bishop, the world. Nothing is too small set against her enemien. That his energy persistent worker, and apparently the
The
directors in England.
hibition of the issue of share warrants to. hearer, for the keeping of a register of members and a register of mortgages, and for the making of return to and the inspection of the registers by the Board of Trade
world.
On fate of Franen depends the best man Great Britain has at present to I have just come, from where men are going out every for us to do for the cause for which we and cagerness to attack have not proved morning to die-knowing that they arere fighting, and all that we have rust equal to the German art of d fence will going to die. I had a service at the be offered with the gift of ourselves to certainly evoke the highest satisfaction
(Continued at foot of next enlumn)
that cause "N. T. Times
Fall over Germany –Reater.