6
OUR LONDON LETTER. [FROM OUR OWN CORRESPONDENT.] MR. LLOYD GEORGE AND THE CHANCELLOR,
THE FOOD SUPPLY OF THE COUNTRY ASSURED.
essence
LONDON, July 23rd. Mr. Lloyd George's great speech on the occasion of the Belgian National Fête Day at the Queen's Hall was in form and of
of worthy the spirit Chatham and Pitt, He delivered a crush- ing reply to the declaration of Herr Michaelis in the Reichstag two days before. Chancellor's statement of policy as
THE HONGKONG DAILY PRESS, MONDAY, SEPTEM HER 1017,
shipyards are turning out new vessels in ever increasing numbers. It is beyond the power of our enemies to cut off our supplies. That is the answer we are able to give to the ruthless" submarine war are which brought the United States in on the side of the Allies. And the infor mation which reaches its from the other side of the Atlantic gives every warrant for saying that the Germans will find be for the have passed that their affected contempt for the American mili- tary effort in as fatuous & blunder as the Kaiser's ancer in 1914 about the cun- temptible British Army."
FOOD SUPPLIES.
theso
of what
are recriminn 150
PROPORTIONAL REPRE--
SENTATION. REJECTED BY HOUSE OF COMMONS.
2017.
LORD BERESFORD ON REPRISALS.
At a patriotic:mooting at the Great As- sembly Hally Milyond-road, ander the
HINDENBURG ON GERMAN WAR POLIOF.
The great part of a Città 5g in the auspices of the British Workers' League following receit utterancee by Fiel
English, and separatist movement which has been growing in Ireland for years past, Sorie of the newspapers here try to explain the election by saying it is the result of allowing Ulster to arm in the Summer of 1814; others declare it in the outcome of misplaced leniency in liberal- ing the rebels convicted of participation in the Dublin rising in 1910; others again House of Commons recently was devoted assert that it is only an additional proof to the proportional representa ution claus that the Irish are irreconcilab of the Reform Bill. The sup porters and Bat
Responsibility for the State opponents of the experiment 1 seemed to be of affairs in Ireland does 201 rest very evenly matched, and the debate was tions i
Mr. with one man or party. Irish "dis loyalty" is the growth of generations-one keen and interesting throughout.
amendment might almost say of centuries. It would Montagus Barlow moved an be more to the purpuse to devise some hostile co proportional representation, gospel which is designed to set up an independent Republican Ireland. So long considerable measure of support from as such doctrines are openly preached members who, like him, Bat for boroughs national unity in out of the question, in which it was proposed to try the ux-
periment. Meanwhile, it is hoped that the forthcom ing meeting of the Irish Convention will succeed in colisting the support of the Asquith rose to support the change. He best elements in Irish life on behalf of confessed that the subject was not one Still he re- law and order. If the Convention fails, which excited his passion, a though it was is Government had adopted it in the one Rule Act for Ireland. There was much laughter ust take a firm stand. For the policy minded the House tha of Mr. de Valer is Rebellion.
interrupts on, tried
You SATIONAL SERVICE FIASCO.
Of lite
Mr. it on the dog.". I hear that the National Service Departat Mr. Devlin's
years, ment is likely to undergo drastic re-
the
IF WE HOLD GUR GROUND"""
An unofficial Berlin telegram gives the
Marshal von Hindenburg, oeiamunicated * Erom quarter's closely connected with von Hindenburg."
A regards the pro-
1
He rightly interpreted the new German in the year the seriousness of the position. Imeans of stamping out the Sinn Fein and it was quickly made elon. r that he had which will no longer be tolerated by pub-ur boats any doing, good work.
ค
Heri
·
The House was well filled when Mr.
They
a résolution was unanimously adopted
propaganda, urging the Government "til expressing detestation of the Pacificist prevent the positious in civil life of our soldiers being taken by friendly aliona sent situation. Marshall von Hinderhueg
maid who refused to serve either in the army
The war is won, for us if we hold our of their own country or of ours, and call. ing on the Government" without further grounds against the enemy attacks until delay, and without proffering excuses, the submarines war has done its work. lic opinion, to take all necessary steps
are destroying, more successfully than we thought, the conditions-essential to the to safeguard London against enezny air- craft attacks..
Lord Beresford, in supporting the remaintenance of life of outenumies. In a solution, said ho deplored the use of the word reprisals." That meant that if not too distant future our enemies will the Germans killed women and children be forced to malde, pence. Třiby kus at, we were going to kill women and child- ers we were going to do the same thing. which they have sufferedě this - spring, on ren, too-that if they hailed our prison and therefore, despite the bravy defenin That was absolutely repugnant to our the Isonzo,, in Tirol, un, the Aisus and race. We had always fought with clean!
neas Armas, they must continue twin at bands; we had always been chivalrous. Take the lowest, ground of all; the Ger tasks, however hopeless these may be mans were, certain to beat us at reprisals. They can no longer wait for the assistnaca. They would descend to burbarities, to
With regard to food supplies, letters reflected week after week earlier Last Spring, when the pirates began to triumph for Junkerdem. The Military sink every ship at sight, it seemed highly party has won. Herr Michaelis, a stub probable that by the middle of the Summer born bureaucrst, in simply the Kaiser'e the country would be face to face with most obedient servant und the willing privation. Compulsory rationing with all the attendant evils of that expedicat henchman of the military caste. Bethmann-Hollweg. of the scrap of seemed the most likely course for the paper," was thrown over because he play; authorities. I see that Mr. Kennedy ed with the idea of yielding to the demand Jones, who has ably filled the once of for Parliamentary Government, but that idea has been rejected by the ruling class Director General of Food Economy, told the Government of the United Kingdom of very great importance. They will never give up as atom of their an interviewer yesterday that last March we had only about nine weeks' supply of power until they are compelled by a crush-breadstuffs in the country. Fortunately, ing military defeat of the German Armice we shall be able to start the new ceroni in the field.
But Michaelis is too adroit to bang the year in September with six or seven door against the Socialist and Radical months' stocks in hand. These, together organisation. It will probably be merged Asquith explained, he haj i been growing-revolting atrocities, to which we should of the Americans; they must in the Ministry of Munitione, and, per-pressed with the un airness
we are doing what we can; we are grocognize that we have won the war. request for reform. He offers them dewith the wormous potato crop which
in costing the tax payers over £100,000 ner priuciple by the adoption of majority stend of saying, We cannot defend you; will repulse, our enemies, until the latter
rule. He held that the domination of
We mocratic legislation by the Government, can be confidently expected, makes the haps, one or two other Departments. It logical application of the representativo e descend. But the Government, in- Our allied armies cannot be beaters. They
position comparatively secure. It will be though this is nothing more than a so merely a question of importing five annnn, and by common consent it is a majorities and the suppression of minori. to have the machines," should say,
drustically. We are going to bombard garia, and Turkey will obtair, he peace-
which they red for the, free development since it would act carry popular control months' supplies of wheat in the course colossal failure. It is mainly due to the ties would increase, with the addition of are going to. hit back, terribly, quickly, Then Austria-Hungary, Germany, Bul-- of the legislative machine. Towards thef a twelvemonth. We can easily do that fact that there has never been a definite 8,000,000 new electors. That scured to him their railway stations, thrie lines of enna
strong argument in favour of propor munications, the places where their muni of their, strength. and clear-cut plan of action.
tions are, made. We will warn them to world outside Germany he faces all way, even if the sinkings by the pirates tre
On paper the programme of National tional representation, in which he now with fair words for pacifists in Russia continued at the present rate, having re
take their women and children out of the and elsewhere, while there are also phrases,
way." That was the line to take, and man over military age, thereby releasing as Mr. Lloyd George says, which the mili-gard to the new tonnage which is becom-Service seems all right to recruit the gave his hearty suppor
ing available.
a younger maa for the fighting ling, and opposite bench, but on the same side. He (not the low, barbarous line. (Cheers.) tary party in Germany will know how to
at the same time enabling essential indus interpret as discounting any apparent
tries to carry on. But men over military concessions in the direction of peace ex copt on Germany's terms. England is to
age generally have responsibilities which be reduced to starvation by the U-boats;
cannot be lightly discarded, while America should not be taken too seriously.
GERMAN BLUFF,
a WICH'S CAULDRON.
Lord Robert Cocil followed from the
The
FURIC
Ol
Ha The enemy has anderestimatesl, us. Believes in the power of his anterionl superiority, and thinte that prijati uns can forer us to agree to a.peace which destroys our future and that of our children. was satisfied that there were serions evils The question of Home Rule for Ireland
in the existing electo rai aystem.
wish enemy statesman had the same know- ledge of the Austrian Monarchy as E continues to provide a veritable witch's
House of Commons, he declared, did not
Try would then abandon their represent at present the option of the become glave of bargaining between have cauldron of trouble. The result of tire
The most ludicrous mistakes have been country. Worse than that, the House did groups instead of fulfilling its mission present pikus Ihase Broughs lome from.
as the grand inquest of the nation.
my visit to Austrin the firm curiction East Clare election is evidence of that. Returned by a majority of over 3,000, the made in placing men who have offered not hold the same position is the country new member, Mr. de Valera, is one of the their services. The other day the Speaker as formerly most lisastrous state of insisted on the need of a strong party that we shall stand together the viptori convicted Sinn Fein rebels. He succeeds of the House of Commons, who had put his things. He argued at our great cause majority to make government effective, aus end. Our alliance cantat be shuket. name down for a part-time job, received of danger to the Horse of Commons was andedeclared against any artificial system The Governments, armies, and every in Happily, we in this country are in a Major William Redmond, brother of the
a notice calling him up for work as a the exaggeration of the party system, of securing the representation of mirexi- dividual among its peoples of Germany position to know that the Chancellor's Nationalist leader, who had represented
together for the common welfare so, the speech is made up of bluff. The military the constituency for 29 years, and died favourer at Wolverhampton &t 45, 10d. and that one of the most useful reforms tus which they were not strong enough to and Austria-Hungary are toady to stand!
The deliate was wound up by two feutmost, Happen what TORY» party in Clermany are aware that the sub.gallantly leading the Irish Guards in day with an intimation that that was work would be to diminish its violence by pro-secure at present,
A little later as other Minister, Mr. beach speakers, Sir John Simon and Sir murine campaign is doomed to failure. France. That an ex-revolutionary should of greater national importance than that tional representa tion... Buy they cannot admit it. They have told have been chosen has a significance that on which he is engaged. Something of the
same thing happened recently in the case Chamberlain, interned. He took a very E. Smith, both of whorn warmly su
Their spirited advocat roportional Re the German people that it is the weapon cannot be ignored; and it should not be that will end the war. Hindenburg has forgotten that Mr. de Valera is the third of a map well known to me, who is at the different lite from is colleague. He did pried Proportional Representations. naked them only to exercise patience and Sinn Feiner to be returned to sit in head of a wholesale house in London with not want to see the party system weakened to be of no auxi
a world-wide traile. Having volunteered ed. He thought, indeed that it was the
169 on a fren vote of the House- the U-boats will bring about the victory Parliament. But, like the others, he does and the peace they desire. But so far not intend to take his seat at West for National Service he received in due only workable system in a democratic Presentation was rejected by 201 vates to course instructions to teport himself for country, and that the more it was weaken-majority of seven when, the question was further emphatic duty us a Corporation dustman at Bired the more would the-House of Commons last discussed had now been increased to from the Germans starving Englan, Mr.minster.
His election is a Lloyd George is able to state that our food supplies are assured for 1817-18, while our I endorsement of the revolutionary, anti-"mingham.-B.B.
A
(Continued a foot of neat column.) one. off 32.
PATRIOTIC CALL.
however, prov.
THE HONGKONG STEEL FOUNDRY COMPANY,
PROSPECTUS
The
FORTHCOMING EVENTS.
Sunday, 296h, Sept, :—
Neon-Dougian Steamship Co., Ltd., Meet.
ing of Shavebalders.
LIMITED.
Inviting public subscription for 85,000 shares at par ($10 each),. upon an increase of the Capital of the Company.
-T is desired, and a resolution for that purpose has been passud, to increase the Capital of the Company to 21,000,000 by the issue of new sharea, for the purpose of extending the business which is firmly believed will, if so extended, not only prove exceedingly profitable to all but will also supply a want to
local concerns.
The Capital of the Company is now 81,000,000, of which only 878,080 has been paid up, and on this the Company last year made a net profit of $19,517 and paid a dividend of 10 per cent. at the end of the present financial year. It is anticipated that doubling the Capital will at least treble the profit; and, should this anticipation be realized, the Company coalit pay at least a steady Twenty per cent.
Steel Castings are needed for numergas purposes by all Roadway Contractors, Engineering and Dock Companies every- where in China, and by many small manufacturers. At present a large portion of the Steel products which this Company in able to manufacture is obtained from abroad--at probably a great expense-in consequence of the very limited capacity of this With an increased Company to carry out orders received. Capital, enabling, more furnaces to be erected, and more labour position to supply employed, this Company would then be in a most of, if not all, the needs for steel castings in this part of the world; for, with the experience now acquired by the General Managers, and by their present head workmen, there should be no difficulty whatsoever is most satisfactorily fuldling such requirements.
It is much desired that sufficient additional capital be subscribed, beyond that which is required for the further development of the Steel Casting department, in order to enable a plant to be obtained, and set up, for the purpose of rolling Steet Ingote into material for Eaginering, Dock, and Building
for which material there is now a great demand. ròquirements;
It is therefore trusted that many parsons in the Colony will be found ready to subscribe towards the increased capital desired, both for their own benefit, and for that of the community generally.
The General Managers are ready and willing to enter into any reasonable agreement desired by the Company to coatings their corvices for lengthy period. Also, if desired by the Company, they are fully prepared to transfer the control to a Board of Directors, comprised of such persons who are in a position to introduce business, as the Company thinks advisable. The minimum subscription for the new shares now offered to the public, upon which the tieneral Managers may proceed to allotment, is $200,000.
Mr. C. BERNARD Euows, of the firm of Messrs. LINSTEAD
DAVIS, Hongkong, is the Auditor of the Company.
A copy of this prospectus has been duly filed for registra-
tion with the Registrar of the Companies.
Application for Shares should be made to the Company's Bankers, or the office of the Geral Managers, where forms will be supplied.
GORDON & CO,
General Managers.
Dated this 22nd day of August, 1917.
REPORT AND STATEMENT OF ACCOUNTS FOR 1916-17. Report presented to the Shareholders at the Seventh Ordinary GeneralMeeting held at the Office of the General Managers, on Wednesday, 16th August, 1917, at 11.30 o'clock A. M.
The General Managers have now the pleasure to submit their annual report and statement of the Company's accounts made up to 31st May, 1917.
The net profit for the year ended 31st May, 1917, after allowing for interest, Auditor's. Fees and writing off depreciation on Company's Plant, Machinery, Launches and Stock, is $16,817.03. This amount together with the sum of $19,548.63 undistributed profit brought forward from last year makes an available balance of 839,306.55, which it is resolved to appropriate as follows:-To place to Reserve Fund $10,000,00, To pay a dividend of $1.00 per share 87,909.00. To carry forward to credit of next year's account 21 358.55.
Dr.
BALANCE SHEET AT 31ST MAY, 1917.
& jets
LIABILITIES.
SHARE CAPITAL
Authorised 100,000 shares at
$10 each Issued 7,808shares at $10 each MORTGAGE ACCOUNT SUNDBY CREDITORS including General Managers PROFIT AND LOSS ACCOUNT.
Balance as per last account..919,548.02 19,817.93 Trofit for the year in
נל
Preheating Chambers and
29,755 72 Less Depreciation
73,300 55 Value of 2 Launches as per
last account Lesa Depreciation ..................
Cr.
ASSETS. Machinery, Melting Furnaces, Foundry Plank and Tools including Annealing and
..$1,000,000
78,080 00
5,900 00
also all rights to secret pro- cesses as per last account...$83,008.12 Less sold, dze..
311.25
$83,646.87 6227,72
ST7,419,15
Additions during the year
P
4,836,86
82,336 01
..$ 4,500.00
450.00
4,050 00
including valuable draw inga as per last account...$
810.00
Loss Depreciation
B1.00
720. 00
Stock in trade......
Los Depreciation
$27,649.70 795.80
26,853 81
6,000 00
15,874
35
7,439 10
143,20297
Office Furniture and Fixtures
143,202 27
Work in ProgTGES.......
Accounts Receivable.....
Cash at Pank and in hand
[Bank 7,971.541
(P/Cash 107.50)
PROFIT AND LOSS ACCOUNT.
For the year ending 21st May, 1917.
$88 C38
$
icta.1
cts.
To Interest Account
450 00 By Balance Working Account
28,117 70
Auditor's Fea................... p.
200
Depreciation on Machy. Plant, Stock,
7,554
To Writing of old Machinery..
Profit on the year.....
96
19,817
#
$ 26,117 70
28,117 79
GORDON & Co.
General Managers,
I report that I have audited the above Balanco Sheat with the books and vouchers of the Company "and have found it to be in accordance therewith.
I have received all the information and explanations I have required No depreciation has been written off Steel Process Patent Rights which appear in the books at their original cost, namely, 821,363.55. Subject to the foregoing observation, in my opinion such Balance Sheet is properly drawn ups us to exhibit a true and correct view of the state of the Company's affairs according to the beat of my information ani the explanations given me and as shown by the books of the Company.
C. BERNARD BROWN, A.CA.
Hongkong, 6th August, 1917.
Auditor.
To be retained by the Bankers.
This form should be sent entire, with a cheque for the deposit of $10 on each share to the bankers of the Company, namely, the
To be returned to the applicant,
CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA.
The Register for application of Shares will be closed on Thursday, 1st November, 1917, at 3 o'clock.
HONGKONG STEEL FOUNDRY CO., LTD.
Form of application for Shares.
To the General Skawayers of
HONGKONG STEEL FOUNDRY COMPANY, LIMITED.
Gentlemen,
Having paid to the Company's bunkers thesum of8. being a deposit of $10 per share for..............shares of 810 each of the above-named Company I (or we) request you to allot to me (or ny).....................shares on the terms of the Company's Memorandum and Articles of Association and I (or we) agree to accept the same or any los number that you may allot to me (or us) and I (or wo) authorise you to register me for us) as the holder (s) of the said shares.
Name in fall.........................
Address........
Description
Signature...
Receipt for Application Money.
Received this...............day of
on account
of the Hongkong Steel Foundry Co., Ltd., from.........
..........the sum of 8.boing a deposit of
$10 per share upon...
...shares of $10 each of the
above-named Company.
For the-
Chartered Bank of India, Australia and China.
Cashier.
NB-This receipt when returned to the applicant must be proserved, and if accompanied by receipt for the amount du or allotment, will be exchanged in die conso for a certifte.
Should the amount of $200,000 not be subscribed to enable the General Managers to proceed with the allotment,
the amount subscribed by each subscriber will be returned without interest.