SPORT
FOOTBALL.
UNITED SERVICES LEAGUE, "The following are the results of the matches played in the United Services League yesterday —
"H.M.S. Ambrose. 2/Wiltshires .....0 M.M.S. Carlisler, .2 . H.M.S. Curlew...0 H.M.S. Hawkins..4 R.G.A,
" AMBROSE " " WILTS."
THE HONGKONG DAILY PRESS, THURSDAY, DECEMBER 9TH, 199
NEW OUTLETS FOR TRADE.
BRITAIN'S OPPORTUNITY
STATE CREDITS SCHEME
7th
Speaking at Bedford, on October on the expony credith schwewe, Mr. F. G. Kellaway, Parliamentary Secretary to the Department of Overseas Trade, said the scheme had two main objects. The Art was to assist, certain devastated countries in Europe to, re-establish their shattered
THE NIPPON POSEN KAISHA.
“DIVIDEND OF "30 PER CENT
THE PRESIDENT, ON. TRADE CONDITIONS......-
BRITISH ENTERPRISE IN
CHINA
This game, on the Navy "A" ground, prosperity, and the second was to increase ar aggregating 31,000 tons gross, will capital in the development of industry and
-was last and even throughout and resulted in a victory for the Ambrose by one goal to all. The Wilts were playing without Menham, their centre forward.--
"draw.
* HAWKINS ** P. R.O.A. The Hawkins defeated the R.G.A. by 4 goals to 2:at Sookunpoo. The game was Fast throughour and the R.G.A. on their play did not deserve to lose by 2 goals. It was in the second-halih game thar the Hawkins, from a penalty, scored their third goal and followed it up shortly after wards by the fourth.
The
PROPOSED CHINESE-BRITISH TRADE CORPORATION. Owing to the general economic depres sion, the N.Y.K. returns for the past half From The Time Trade Supplement :→→→ For some time past considerable atten- year were not the favourable as in previous tion has been devoted to the possibilities terms and lis net profits, minus reservės, etc. stand at Y.9.388,948. A dividend of China as an industrial country. In of 30 per cent has been declared. The portant British Interests in China and this new steamers Lina Mare: Lyons Maruntry have under consideration a pto- Qual to form a Chinese-British Trade Cor- Malacca Maru, Lisbon Maru, and Morioku poration, which would employ British be completed during the present halfther undertakings in China. In the dis the export of British manufacturét goods year,"
cussions that are taking place stress is Euron KONDO, President of the Com-aid on the advantages possessed by China and so provide more employment for the pany, at the recent meeting of share-in the spatter of cheap raw materials and people of Great Britain. The countries to holders at Tokyo, delivered a speech of laboar which the scheme so far applied were caun. which the following is a summary
scheme as it stands, is a cons “CARLISLE ” V. "CURLEW~ tries whose markets before the war were The net profit of the Company during promise, intended to provide a practical The Carliste emerged victors in this very largely monopolised by the German the period under review, was Y,8,400,000, way out of the difficulties which have the figures ~ “showing a ・ decline of hitherto, prevented the employment of well-contested game, on the Nagy "B" manufacturers. It was obviously desirable Y.7,600,000 as compared with the first capital in large industrial undertakings in
the interior of China. Under the condi ground by 2 goals ro nit. "The Curlew in the interests, not only of our own trade, half of the year, and of Y.9,020,000 as ons hitherto obtaining purely British forwards were weak in front of goal and but of these devastated countries, that against the second half of last year. This
company, under British registration, can- rather slow, or the result would have been British firms should obtain a footing in diminution is very serious-and is duc not operata or own property beyond the
to the economic depression which is limits of the Treaty Ports these markets. They were countries which affecting the whole world. Shipping "on
A purely Chinese company possessed greni natural resources' and large both the home and foreign Services was law. is held to be
under Chinese working
open to serious objec and industrious populations. As a result Kenerally dull, and the consequence was on of the war their transport had been national trade has not yet been restored cassion of the proposal which, it is said, that freight rates had to be lowered. Inter-As the result or much preliminary dis damaged, if pot destroyed, and their to normal conditions in Europe strike was cordially supported by H.M. Legs. industries crippled for want of machinery. after strike has occurred, with the result tion, a conference was arranged at Peking They needed relling stock for their call the merge, and merchant vessels influential Chinese agreed to unite with at transportation business was) in Last year at which certain highly ways, agricultural implements for their obliged to lie idle in various ports. agriculture, machinery for their other The Company did its best to readjust Administration), and Mr. Matcalfe (of Major Nathan (of the Kailan Mining industries, and bouts, clothes, and other its business, the scope of which had been the firm of Babcock & Wilcox) in forming necessaries for their people. These they greatly enlarged during the war. Still the Chinese-British Trade Corporation. It were unable to buy owing to the deprecinthe Company found it very difficult to be invested with certain special advant was understood that the company would tion in the purchasing power of their reach the same high level as during the natural wealth, and once their transport at such a period of transition. The pros- The money, but there was no question of their war-time boom, and this was inevitables and privileges, to be granted order 4 charter of the Chinese Government. and other industries could be re-established pects of the Company's business for the geoposal was sanctioned by the Chin-
Government. they would become valuable customers. next term are by no means bright, and a countries, therefore, which first aue period of dulness is expected during the cended in getting held of this trade would next six months. Investigations made in have markets which in the future would June last show that the number of mer be of great value.
Realising
this fact, the Board of Trade ant vessels the world over aggregated 53,900,000 tons, being an increase of established the export credits scheme, under 5,500,000 tons as against pre-war days which the Government undertook, ta Vessels now under construction to the exporters' cost of goods sent to these maritime trade of the world showed an approved cases, to advance 80 per cons, of 7,650,000 tons. During last year the countries. For a considerable time little use was made of this scheme. British increase of over 70 per cent, in value as manufacturers were crowded out with compared with pre-war days, but there orders from customers at home and in the was a decline of over 30 percent in Overseas markets who were in a position to tonnage. This indicates that there was pay in sterling on delivery of the goods. a diminution in industrial production in They were, therefore, not very keen on Europe, abhough the United States was secking trade in markets where the cus not seriously affected by the depression a whole is largely one of policy, which tomer was unable to pay in sterling. They in Europe.
deserver careful consideration by H.M. also felt that the terms of the scheme were The greater porpon of the vessels plan- Government and the Chambers of Com-
the vessels plan too onerous in that it only provided for red by the American Shipping Board with merce. But it is contended that if British an advance of 80 per cent. by the Govern- a fund of over $3,000,000,000 during the manufacturers bestitate to establish ment of the exporters' costs, leaving the war are nearing completion.Already new branch factories in China, it is certain of his proft, bat of having an extra 20 in service, and, of these, vessels totalling do 6 The effect of cheap Chinese labour at the risk of losing not only the whole vessels aggregating 7,000,000 com are that Japanese, American, and German will from smugglers" "and per cent. of his capital locked up for a 1.000.000 tons are in the Atlantic and andrew materials is bound to make itsell smokers was burnt outside the Temple of considerable period. In both these respects Pacific. The Admiral and Pacific Lines feit throughout the industrial world, and representatives from the different Govern Manufacturera had now satisfed the pres Agriculture recently in the presence of there had been a considerable change with five big passenger boats of 10,000 it is pointed out that under the economic of oplam and over two thousand ounces in a position to pay cash, and they were tween' Japan, China, Hongkong. Manilos ible for. Europe to face the influence, In addition 10.5,230 ounces ing demands of those customers who were tons each are about to start services he-lons now prevailing it will be im- -of morchia, both in the raw and premore
forces without Protection... to seek new customers. The and other points: The MM. Steamship -and-morphia paraphernalia was niso burnt.
the other hand every British-con- had also announced bat It Company has increased its capital recentlyUE TO BRITISH TRADE There were also a large number of percept. of the exporters' costs, being Italy, Germany and. other countries are 100urs at bonte, will serve as a valuable.
compete with individual British manu articles exhibited, in which the smugglers granted is approved cases This announce also making preparations to meet the new had concealed the drugs while attempting ment was only made in the House on Situation.
feeder 10 British to escape the vigilance of the authorities October 25th, but it had an immediate Japan the number of idle vessels other directions Jade and industries in The spectators were quite surprised, says
effect, for on October 37th The Peking Daily News, the ingenious department had received inquiries, in show at vessels now idle total 80,000 the point of view of H.M. Legation at the is gradually increasing. The latest returns briefly stated, is mid, to represent. respect of business ancunting "way in which the smugglers had attempted over £1,000,000. He did not say the tons, and this figure is expected to showing Bir Joha Jordan was strongly
The fixtures for the 2nd Division on Saturday, December 11th, 2.30 p.m.
United F.C. v. Indian F.C., Navy "B"
ground.
Care
Recreio v. Punjabis, South China
ground.
Staff v. Oilers, Sookunpoo ground.' -Carlisle v. Club, Navy "A" ground.
Kowloon v. RG.A. Res., St. Joseph's
ground. South China v. St.
China ground.
Joseph's, South
A BONFIRE AT PEKING.
“HUGE ·QUANTITIES OF OPIUM
'AND MORPHIA BURNT. SE
||
Under the supervision of the judicial authorities, a large quantity of opium and morphia seized
ment organs.
The three Chinese officials who joined with Major Nathan and Mr. Metcalfe in submitting the petition to the Ministry of Commerce, Mr. Liang Shib-yi, Ch'ien Annghaun, and Han En-yuen, are said to be men of great political influence and knowledge or commercial and financial fairs. They signed as representatives of "group of Chines merchants, capitalists, and officials.""
st-from the purely British point of view, The promoters state frankly that, looked
Pit may
educate and organise Chinese industries for seem at first sight undesirable to the manufacture of articles which would perhaps compete with British goods in the markets of the world.
The question as
pared stare a large collection of opium gree to credits up to 100 in order to engage, in, world competition, ralat factory in China, even though it
statement
08
WES
granted. The
EXPORT CREDIT SCHEME, GOVERNMENT ADVANCES UP TO
100 PER CENT.
a still further increase as time passes... COMPANY'S BUSINESS REPORT.
Company's business report for the second The following is an outline of the half of the year.
On the domestic services trade was In the latter part of the term some activity Eentrally dull owing to a scarcity of cargo, was witnessed in the shipment of cargo between Japan and Formosa, while pas senger traffic between Formosa and Sug
alien was also active
On the China services the shipments were less both on the outgoing and the Japanese agitation, the depreciation in the return voyages, this being due to ant price of silver, and economie depression in Japan. On account of the number of vessels available, the freight rates were lowered. Or the Tsingtao and Chosen lines the situation was also dull. Espe cially was this the case between Kobe and Narth China
On the South Pacific line the business has not yet attained much development, although the passenger traffic was some what active.
Kale Bags
the
of opinion that for the development of trade and industrial enterprise in Chins commensurate with. the country's re-
Embodying this view, a memoranden was arces, the best road to success lies in the direction of co-operation with the Chinese.
Commercial Secretary, "setting forth drawn up by Mr. Archibald Rose, the
of the Chinese-British Trade Corporation. statius, objects, and proposed organisation In in Mr. Rose lays especial stress on the avantages which this joint enterprise may expect to enjoy under the articles of asso ciation sanctioned by the Chinese Govern. ment. As he points out, the chief role of the Corporation will be to provide the neanthods and knowledge of foreign organisation, skilled management, busi. markets, which the Chinese lack. The (of which the mandarin and merchant classes have largo reserves), knowledge of
on their side, will supply capitar |
local conditions, mining and other rights, and political influence.
The following articles are particularly important from the point of view of the Brisk group of shareholders:
Article 5.The Corporation's busideas shall be to finance, manage, undertake, or participate in industrial and commercial activity in the early part of the period diaries or agents for the purchase or sale On the Bombay line there was some enterprises of all kinds; to act as interme. under review, but later & depression self securities and for commercial and in in. The number of passengers showed an increase,
10 smuggle the drugs, when they say all or any of these applications would be among the articles seized toys, cakes of scap, bonies, etc., in which the smugglers the public credit, and it could only agree department was dealing with had concealed the contraband. Before the to use that credit in the interest of what authorities sem each piece of drug to the appeared to be soned business. The scheme Bre. the Chairmen of the Anti-Opium provided for advances up to 100 per cent. Society was requested to make a careful of cost in approved cases, with power of inspection.
cent. of the advance in cases of default, recovery against the exporter as to 20 per The advances would generally be given fur THE CON≈ORTIUM.
period of not longer than two years, The countries so fur included in the scheme AN OFFICIAL STATEMENT.
were Finland, Latvia, Esthonia, Lithuania, Poland, Czecho-Slovads, Jugo-Slavia, Ron. mania, Georgia, Armenia, and Bulgaria. The Japanese Foreign Office November 20th announced the signatures concluded, it was desirable that trade From every point of view, lir. Kellaway of the banking groups of four Powers between Great Britain and the devastated to the agreement authorizing the Chinese countries should be placed on a secure foot Consortium and issued the following ing, and he hoped that every manufacturer who was feeling the effect of the depression "The Japanese Government is gratified at home and in some of our principal to learn that the agreement tentatively markets would apply to the Department of -adopted in May, 1919, at Paris by repre-verseas Trade for particulars of the
sentatives of the investing public of scheme. America, Great Britain, France and Japan covering the formation of the new Consortium" For the assistance of China kas now been, confirmed by the signature of the Jour banking, groups. This inter national-association thus" coming "into -existence under the name of the Consor
tium has been, organized with the full
in, and bold, stocks of all kinds and bonds, dustrial business of all kinds; and to deal approval of the four Governments and in given of the Board of Trade Export Credit On the Calcuts and Japan-Java Corporation shall be fired at $5,000,000,
Some little time back particulars were the belief, by them that interests of the Scheme to foster foreign trade. The prin- Calcutta routes there was abundant, cargo Chinese currency, and shall be equally Article The authorised capital of the Chinese people can best be served by the ciple was that the Treasury should, ad- on both the outgoing and return voyages, divided into two classes (22,500,000 each) co-operative action of their several bank vance 80 per cent, for a period of up this notwithstanding the business deprese Founders and Ordinary abarca. Lis ing communities to the end that the to three years, of the cost price of the sion in Japan. Chinese Government may be able to pro- goods to be supplied, leaving the balance On the European line the exports from poration the whole of the Founders shares medintely. npon the formation of the Cor- cure (through loan agreements involving to be advanced by bankers of the mand Japan were, brisk during the early part shall forthwith bo subscribed for and half the issue for the subscription by the Facturing Arm wishing to export. Mea of the term, and two special vessels were, of the amount paid in by the Chinese and public of loans to the Chinese Government sures are now being taken, under the in addition to the regular liners. placed the British respectively, $825,000, asch or other agencies involving a guarantee by auspices of the Federation of British in on the run to cope with the situation, but Both classes of shares will be of $100 the Chinese Government or Chinese Pro- dustries, that the sch he should provide in the latter part of the term a sudden denomination. vincial Governments the capital required, for advances to approyed towns of 100 depression set in. On the homeward run Article 25-The Corporation shall particularly for the construction of im- per cent. It is pointed out, moreover, the shipments were brisk in the early part eight directors, four Chinese and four proved means of communication and trans that the policy under the scheme is to of the teria, but later a depression set in. British, all with equal voting power to portation. It is thus hoped to assist the oblige the exporter to finance 20 per cent. The number of passengers, however, in-be elected by the shareholders each holding Chinese people in their efforts toward & of the net cost price of the goods that creased considerably.. greater unity and stability and offer to it is intended to export. Granted that On the Liverpool recte cargo from she's must be holders of Founders' individual enterprise of all nationalities the bankers or, if the suggestions are Japan and from intermediate ports fell off, equal opportunity and a wider field of accepted in future the Treasury will and the liners had to abandon the call at formation of the Chinese-Esitish Trade Cor
A meating to ex activity in the economic development of provide the 20 per cent, the exporter is intermediate ports, each vessel suffering poration on the lines described above will to consider the proposed China. It is further believed that through still forbidden to cover this risk by means from a scarcity of cargo. The passenger be held under the auspices of the Fedora- such co-operative action a greater degree of insurance. It may be argued that this traffic to and from England was brisk.tion of British Industries at the office, of of understanding and harmony with refer obligation ensures the exporters only On the Hamburg line vessels carried the Federation, Sir John Jordan is ex- ‚ence to Far, Eastern matters may be reach
ed among all five of the nations involved." taking on sound business. inasmuch as little or no cargo, but they managed to pected to fake part in the discussion
This statement, it was stated, was being Treasury to finance to the extent of 80 other ports. From Antwerp and Rotter business which is good enough for the take in goods consigned to London and simultaneously made in Great Britain, per cent should be good enough for the dam there were brisk shipments France and the United States.
profiting firm, to finance to the extent of On the American run exports from 20 per cent. But it is now strongly urged Tapan were brisk, and the number of the Board of Trade agrees to the exporter passengers, increased considerably, being allowed, if he desires, to cover him- On the New York line some activity self by insurance. So far as certain Con- prevailed during the first part of the term, linental-countries are concerned the but later shipments were only nominal. Government has now agreed to advance On the South American route the liners
A story was brought to the Palice Station on Tuesday afternoon by a man who alleged that he had been set upon by masked men in Kennedy Town, near Beach Street bound blind-folded and robbed of $175. The Police do not "attach“much credence to the report.
*
T
D
shall have
50 or more shares. At least four of the
of goods to be supplied from Europe, but
on the return voyages the shipments gene- raily were smallNTEN
On the Australian service the shipments with the situation the Company placed from Japan were very brisk, and to cope two-additional vessels on the run, but little cargo. on the return voyages there was very
up to 100 per cent, and manufacturers carried abundant cargo on the outgoing During the term work was completed are promptly availing themselves of such voyages. as there was a large quantity on five new vessels aggregating 31,000 improved facilities.Eastern Engineering. (Continued at foot of next column.)
tons
New Season's Fruit for Xmas
ין
Seedless Raising (Sultanas)"
per 1 lb. pkt.
$0.85
Seeded Pudding Raisina...... Californian Currants........
1 lb. 1 lb. All these Fruits are cleaned ready for use, untouched by brand. Mixed Candied Pool Candied Peel in 1 lb. tins Mixed
.65 65
..... per lb.
$1.00
per tin
.80.
Lemon
.807
»
Orange... Citron...
11
34
80
13
$1.00
Spices all kinds in 2 oz. 4 8 az, bots.
Cooking Apples.....
20
$1.50
............. per lb. ....tenan Pudding Basins, all sizes in stock." Chiver's Xmas Puddings in 2 lb. Basins Crosse & Blackwell's Xmas Puddings 1lb. tins 70 ots..
2 lb. tins $1.20 3 lb. tins $1.80 4 lb. tins $2.40 Chiver's Mincemeat...
per 1 lb. bots.............. Crosse & Blackwell's Mincomeat... 1lb.tin81.3lb.tins$1.80 Golden Dates Californian Figs Kent Filbert Nuts
Brazil, Almond & Hazel Nuts... Washington Apples ......
Dried Prunes, Pears and Peaches...
pkt..
lb.
.80
.80
..40
-80.
.80
30
:60
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ON FIRST AND SECOND FLOORS.
Crawford & Co.
DICKS
PATENT UNIVERSAL SIZE PACKING STEAM AND HYDRAULIC.
The most useful and efficient packing known.
SOLE AGENTS I
LANE, CRAWFORD & CO.
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15
[449
The Anderson Music Co., Ltd.
Powell
TELEPHONE 3146.
GENTLEMEN'S
HIGH-CLASS OUTFITTERS.
CHANGE
SEASONS
Be prepared for the many changes in the temperature by wearing correct UNDERWE
special weares of which are porous and absorbent, thus preventing chill.
INSPECTION INVITED.