"A. G. DA ROCHA
AUCTIONEER, SURVEYOR AND
AGENTRAL BROKER.
No.24, D'Aguilar Street, Telephone No. 1931. WEEKLY. AUCTIONS
TUESDAYS :-
*
MISOFLLANEOUS GOODS.
THE
PEKING NOTES.“T
[FROM OS OWN CORRESPONDENT.]
HONGKONG DAILY PRESS," THURSDAY, FEBRUARY 10TE. 1921
PELING, January 30th.
** CHRONIC IMPLCUNIOSITY.""
The chronic impecuniosity of the Poking Government is emphasised by the approach of China Now Year. Obliga tions totalling $50,000,000 should be met before that date, but of that amount only about four millions from the Customs will be available. Consequently the THURSDAYS:-
Minister of Finance is endeavouring to VALUABLE HOUSEHOLD FURNITURE raise louns from various sources, but he
SATURDAYS:-
finds that the only people agreeable the native bankers are imposing barsh tormi, something like twenty per cent, and there is talk of his resignation. In apite bi that, it is hoped to raise | $12,000,000 w**A is regarded as sufficient to tide the rnment over the period of difficulty.
EXCELLENT HOUSEHOLD
FURNITURES.“
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A GOOD AUGURY!
The fall of snow this week is regarded As a harbinger of good luck. It could not well be otherwise, as the past year has been a succession of the worst possible conditions in the North.
FAMINE RELIEF.
ebra.
F
-BURNG NICHT IN PEKINO.----
The newly formed St. Andrew's Society of Peking celebrated the anniversary of the birthday of Robert Burns by a dinner held at the International Press Club. Dr. Gray, the President was in the chair. Mr. J. Lockhart proposed "The Immortal Memory of Robert Burns," Mr. J. S. Begg gave "Other Scottish Poets," and Mr. A. Ramsay submitted the toast of "Auld Scotia.".. Guests representing other countrios were present. BINO-JAPANESE MILITARY COMPACT CANCELLED.
aume
BILLS OF LADING. IMPORTANT DECISION IN EASTERN TRÅDE.
It
JAPANESE SHIPYARDS.
DEPRESSION AT HAND.
[DY T. P. PURVIS, D.BC.,", AND #> TERANO, A decision is understood to have been D.SC, TOKYO, IMPERIAL UNIVERSITY } now reached respecting the wording of
Japan has now passed over the peak in bills of lading in Eastern trade.
her shipbuilding boom, and the returns. appears that, during the war a practice for D20 indicate a considerable decrease came into existence of supplementing in the amount of mercantile toanage cases the phrase Shipped in launched when compared with those of apparent good order and condition" by the two previous years. Numurder ship- such words sa “or delivered for shipyards, started during the war, to take mant. Exception having been taken to advantage of the abnormally high prices such an addition, the words "or received then ruling, have already gone to the for shipment" were sometimes employed wall... The following table (incomplete These words have lately been for the year) shows the number of ship. instead. considered objectionable, says The Times, yards, and also of building berths cap- and so some of the British shipping lines, | able of building ships of 1,000 tons gross, at any rate," have agreed to omit them, and the cutput, in several years:- and only to issue bills stating that the
1913 1914 1919. No of shipyardı at goods have beene" shipped in apparent
and of some
B. 37 23 including
wood good order and condition."
shipyarda
ATTITUDE OF SHIPPING MANAGERS.
No. of building berths
at and of year including wood
ahipyards Herchant ships belit,
number Maruhet ships built. 'tonnage...SAAT MEN VA
number
approximato
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(12)
17 197
00
મ
(1)
J
180
100€
34,566 538,660 §21,100-448,800
of workmen........ 26,000 93,000 80,000 At present all the leading, yards are busy with old orders; but these will be exhausted before, long, probably by nex summer at latest, and there is no imme diate promise of new orders being placedi Except for Government assistance a very real depression in the industry is st hand. Under the now extension scheme the Government policy of getting war- ships built by a larger circle of private shipyards will help the latter greatly fer a time; the Mitsubishi Shipbuilding Co. and Kawasaki Dockyard Co. each has a battle cruiser in hand; while the Mitsu- binhi and the Uraga Dock Co, each has a light cruiser; and these and other com- Ishikawajima, Yokohama Dock, Asano, panies Mitsubishi, Kawasaki, Uraga, Fajinagate have destroyers and naval auxiliaries.
Such bills clearly can only be issued when the goods are actually put on board the vessels. Billa of lading can no longer be regarded as also receipts issued by shipping firms to merchants for goods put into warehouse pending the arrival Famine relief work is making A big of ships. It has sometimes happened that demand upon the services of missionatics merchandise has been brought by river and lay people, and it is pleasing to be craft to an ocena port in advance of the able to record that the ery from the arrival of the ocean-going vessels, and stricken districts is not falling upon dear then the issue of the bills of lading mark
Unfortunately banditti are inter-ed or received for shipment "has been fering with the work and causing the a convenience to merchants. So long as deaths of thousands who might otherwise prices of goods were rising or were main- be saved.
tained, delay in arrival at the port of consignment was, no doubt, of compara tivo unimportance from the point of view of the bankers who were asked to advance documents. But with prices falling delay money on the strength of the shipping in gatting goods to market may well have become a serious matter for the bankers. Presumably, it is from the banking point of view that objection is taken to the On a different platform, but closely wider phrasing which has been inserted related to shipbuilding, are the problems in the documents. Certainly some ship-In this industry a good deal of discus Iconnected with shipping and shipowning, ping managers, any rate, adopt the attitude that they are perfectly willing sinn is prevalent as to the possibility of only to issue the bills when the goods are of expenditure; but there are many diffi amalgamation, with a view to reduction actually put on board the vessels, and culties in the way of such a course. that their decision in this matter musi be in accordance with the expressed de Nippon Yusen Kaishs to take the most sire of both merchants and bankers. It prominent and successful of the shipping sclves as to the procedure to be followed. naturally very conservative towards other is for the latter to agree among them companies, has been accumulating enor
mous reserves for years past; and it is shipping companies which would come and the South, has at length been under consideration by the British Cham- the air that the Government, which is Quite lately a similar question was into the ring. A suggestion is also in abrogated by mutual consent. The notesber of Commerce in Brazil. According to urging the amalgamation, wants to save exchanged between the military and naval the evidence of a director of the Board its face in view of the fact that last representatives on both sides and between Market, the custom at Rio de Janeiro company (the Kokosai Kisen Kaisha) in of Brokers of the General Merchandise yoar it helped the promotion of a new the respective ministers are appended:- has long been for shipping companies to which the steamers owned are valued at
(Mémorandum.)"
receive in lighters goods intended for maximum prices and reserves are small. shipment, and to issue bills of lading to Figures recently published show the book The Supreme Commands of Japan and the shippers before the arrival of the values of N.Y...steamers written down China, taking into consideration that the ocean vessels. In this case the Chamber to Yen 74 per gross ton, while K.K.K. necessity for common defence has ceased agreed that bills of lading marked "Rasteamers stand at Yen 500 per gross ton; ceived for shipment should bear a stamp the K.K.E. would very clearly gain by to oxist, hereby cancel the Agreement to the effect that the steamer is expected amalgamation with older and stronger signed on February 5th, 1910, regarding to commence receiving cargo on. the term of validity of the Military so that the bankere would know the Agreement, and recognize that the time. ing "apparent good order and condition" approximate date of bailing. The phras of the termination of the condition of bas, from time to time, been criticised war, as provided for in Articlo II Para-, merchants, but shipping firms, as
rule, contend that, especially in graph 2 of the Military Agreement, has days when much pilferage is known to been reached on the date of signature of take place before merchandise reaches this Memorandum.
their care, they would not be justified in omitting the word apparent." They have no authority to open cases to see if everything is actually in order inside.
the cancellation of which was made an The Sino-Japanese Military Compact,
essential for the re-union of the North
(Signed) OтonIKO HIGASHI, Major-General, Representative of the
Japanese Army."
Ho Ex-p't, Reprezentative of the Chinese Army. January 27th, 1921,
PRACTICE IN BRAZIL.
.fl
CONICOPRA.
THE DOUBLING' OF WAGES.
The
one of the troubles ahead is undoubtedly In shipbuilding, as in other industries, the wage question. Here, as elsewhere, wages increased enormously during the reaching double, the pre-war rate; and as these period of maximum demand for ships, yet there has been no reduction from this high level. At the same time mate- rial, as before, comes from abroad, and coata more here than in the country it comes from. The shipbuilding subsidy was granted to neatralise thin. In conso- quence of the boom" the subsidy was A $20,000,000 LOAN FOR CHHA, suspended, and the future policy of supporting and promoting the shipbuild- The Sinucanpan (Shanghai) learns that, ing industry is now under discussion by one, Lee that an official of a certain ing of shipowners, shipbuilders, steel- according to information received "from special governmental committees, consist- bank in Canton recently arrived in Shang-makers, and other technical experts. hai, and made proposals on behalf of Sun With yages and material both increased Yat-sen for the issue, in the name of the Canton Military Government, of deben ture bonds to the amount of $20,000,000. The bands would bear interest at the rate
as much in Japan as elsewhere, perhaps more increased, there is no possibility of effective competition. Labour conditions at present are very quiet; dismissals have
The Supreme Commands of Japan and China, taking into consideration that the necessity for common defence. has ceased to exist, hereby cancel the Agreement aigued on March 1st, 1919, regarding the terms of validity of the Naval "Agree ment, and recognize that the term of the condition of war, as provided for in of 10 per cent, and be redeemable in 10 taken place, but these have been made years. The price of issue would be 884, easy by the giving of bonuses and by and the security offered is the Land other humane means. Before very long Revenue of Canton for five years and the this adventitions support will be exhaust- Canton-Kwangi Railway.
The report adds that emissaries willed, and competition for employment will issue forth from Canton for the purpose least seems likely in other industries then bring about reductions in wages. This at of popularizing the loan in various Bend-Admiral, Representative of the quarters from which opposition is ex shipbuilding, and reduction in some direc-
pected.
Article 3, Paragraph 2 of the Naval Agreement has been reached on the date of signature of this. Memorandum.
(Signed) SACRO YASUMI, Captain, Representative of the Japaness
Navy,
CT'EN EX TAO,
Chinese Navy. January 28th, 1021,"
[TRANSLATION.}
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105
(Prom the Chinese Minister of Foreign Affairs to the Japanese Minister in Peking, dated January 28th, 1981.)
MONSIEUR LE MINISTRE,
to the Chinese Minister of Foreign Affairs, dated January 28th, 1991.) MONSIEUR LE MINISTER,
With reference to the Notes originally, Acknowledging the receipt of Your exchanged between the Chinese Minister Excellency's Note No. 18 of even date, I
tions may be expected to bring reduction in all. Against this has to be weighed, in the ease of the shipyards, the Govern (From the Japanese Minister in Pekingit to a considerable number of perhaps ment work and the employment given by
better-class workmen. This Government work relieves the necessities of the com- panies entrusted with it, at least tempo- rarily; and for a time it will tend to keep up wages. A general conclusion that may to Japan and the Japanese Minister for have the honour to state, with reference he arrived at is that the shipyards which Foreign Affairs on the subject of common to the Notes originally exchanged between have husbanded their resources, and have defence of the two countries, as well as the Japanese Minister for Foreign Affairs been, and are pursuing a cautious policy, to the Military and Naval Agreements and the Chinese Minister to Japan on will win through the dark days ahead. concluded between the authorities cerned of both countries, I now have the countries, as well as to the Military and cost of labour in relation to its efficiency, con the subject of common defence of the two Others will certainly come to grief; the honour to state that the Supreme-Com- Naval Agreements concluded between the being one of the determining elements. mands of our two countries, taking into authorities concerned of both countries, consideration that the necessity for com that the Supreme Commando of our two
THE YEAR'E WOEK.
mon defence, has already coused to exist, countries, taking into consideration that The returns from Japan this year shows the Military and Naval Representatives the necessity for common defence has a fairly high output. In the Government of both countries have signed Memo- already consed to exist, the Military and work comes the Mutsu, launched at Yoko- randums thereby cancelling the Agree Naval Representatives of both countries suka, the sixth battleship under the ments regarding the term of validity of have signed Memorandum thereby cancel the Military and Naval Agreements, and ling the Agreements regarding the term recognizing at the same time that the of validity of the Military and Naval time of the termination of the condition Agreements, and recognizing at the same of war has already been reached on the time that the time of the termination of date of signature.
eight and right" programme-eight battleships and eight battle cruisers not more than eight years old, which has been part of the naval policy of the country daring some year yast. From the private shipyards the balance of ships due to the American. Shipping Board have been steamers owned at home. Of work still launched; also a large number of cargo
I beg to inform you that I confirm the the condition of war has already been
reached on the date of signature. contents of the said Memorandumds, and that accordingly the Notes on the subject contents of the said Memorandums, and I beg to inform you that I confirm the exchanged between the Chinese Minister that accordingly the Notes on the subject on hand there is enough in most of the to Japan and the Japanese Minister for exchanged between the Japanese Minister shipyards to keep things going till next Foreign Affairs in March, 1918, the Mili-for. Foreign Affairs and the Chinese summer; this with the addition of the tary and Naval Agreements based upon Minister, to Japan in March, 1918, the Government work either placed or promis those Notes As well attached thereto, shall all become from, upon those Notes as well as the docu-whole; but unless some great change as the document Military and Naval Agreements based cd should make 1921 a good year on the this day entiroly null and void. I arail, meats attached thereto shall all become takes place the close of next year will
(Continued at foot of next column.)
from-this-day entirely null and void.-1 mark a considerable falling of from paat avail, etc..
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