Page
THORNYCROFT
JOHN I THORNYCROFT & CO., LIMITED.
SKIPSOILDREN AND ENGINEERS,
LONDON, SOUTHAMPTON AND BASINGSTOKE
Shanghai Ofice: 10, Kinkiang Road.
THE
15 B.H.P. 30 B.H,P. 50) B.H.P. Engines in Stock
For quotation apply-
11
SHANGHAI OFFICE.
ANOTHER SPECIAL OFFER FOR THIS WEEK. Everybody should take advantage of the very low price at which we are offering.
20 dozen Fancy Foulard Ties. The very Smartest and Newest designs to choose from
20 dozen only
cach.
Regular Price $4.00
Special Offer
MACKINTOSH & CO., LTD.,
RY
95
Eash.
Men's Wear Specialists,
.6, Des Vœux Rd. Phone 29.
APPOINTMENT
[38
Apollinaris
NATURAL MINERAL WATER.
Since its foundation in 1872, the Apollinaris business has
ALWAYS BEEN BRITISH-OWNED.
“
THE APOLLINARIS CO. LTD.'
Chtainable in Quarts, Plats & Splits at
HONGKONG HOTEL...
REPULSE HAY HOTEL.
Sold by
WING ON CO.
SINCERE CO.
EMPRESS STORE, KOWLOON, and all the Leading Clubs & Stores.
LANE, CRAWFORD) & Co.
NOTICE.
728
MESSRS. GILLARD & CO.
HAVE GREAT PLEASURE
in informing the
PUBLIC
that they have just received
THE WARRANT OF APPOINTMENT
AS
TO
SAUCE and PICKLE MAKERS
H.R.H. THE PRINCE OF WALES THESE SAUCES and PICKLES
May be obtained from
LANE, CRAWFORD & CO.,
and
All other Stores.
SHOULD THEY BE UNOBTAINABLE FROM YOUR DEALER, PLEASE COMMUNICATE WITH
DONNELLY & WHYTE,
TIL. 636.
HONGKONG DAILY PRESS, SATURDAY, JULY 165K, 1991
THE BANQUE INDUSTRIELLE Perer, the Chinese Government deposits in
DE CHINE,
the Banque Industriell de Chine far-} exceed the above figures. In addition.
FURTHER EXPLANATIONS OF THE there are still a large amount of Chinese
DIFFICULTIES.
Treasury Bills in the hands" of the. Banque Industrielle de Chine, as security for the Government bonds. It is expected that some trouble will arise in connection with it when the hqcidation of the bank Lakes place.
lasogance or VRINESE PUBLIC
Six months the quarrel between the old and new shareholders began, but the
*5? Chinese shareholders and depository have all the time been left in the dark. Since the beginning of May foreign depositars had been withdrawing their deposits from this bank, and the total amount thus withdrawn was no less than Francs 1,500,000,000.
Although the bank notes will be recalled from the market and cashed at face valué no messures have yet been taken to eash the deposits.
The following statement appeared in the Peking Philly News of July 7th-
PARTS INSTRUCTIONS AWAITED. Several days have plaped sitive the sug- gestrins and orders were made by the Chinese banging tromp to the French Legation for the payment ot, the tours of the Banque Industrielle de Chine; but no definite reply has yet been received from the French Chargé d'Affaires who is awaiting instructions from his Govern- mant. As the amount of notes in circula- tion in various ports is not very large. the Chinese Hanking Group does not think it difficult to handle it. It is desirable that an early decision be made on the part of the French Coverament to accept the assistance of the Chinese Bankers, otherwise more banks will be
Indred, Str. Chen Lu, Chịnese Minister affected. The latest news from Shanghai
at Peris, must have been informed of indicates that there have been several the situation in France long ago, but rubs both at the Chinese and the foreign he has never kept the Chinese public post- banks of that part. Efforts are being ed of the changes there. Because he did made by the Banking Group there to
the Government not submit any report maintain their credits, and it is hoped in connection with the status of the that the crisis will soon, be over. The Banque Industrielle de Chine, the Chin- delay of the resumption of payment of Chambers of Commerce in the pro- the French notes in Peking has also vinces have taken ho steps to warn the affected the potę, of several native and depositors. foreign banks in the Capital, Other banks in the City have come to their rescue; but the people are still in n state of hesitation and doubts...
CHINESE BANKERS' ANNOUNCEMENT.
Y
Seeing the uneasiness and fostability of the people's mind in regard to their con fidence in the bank notes of both foreign and native banks, and in the declaration made by the Banks' Association a few days ago about the redemption of the notes issued and circulated by the Hanque Industrielle de Chine. the Chase Bank ers Association issued another public notice last night to relieve the tension of the public. The notice reads as fol lows:--
1
MR. CHEN: LU AN RESPONSIBLE FOR THE
IGNORANCE.
ASSURANCE FROM THE FRENCH GOVERNMENT. Affaires in Peking has sent a commun- It is reported that the French Charge
ication in the name of his Government to the Chinese Government giving the assurance that the Banque Industrielle' de Chine would be maintained by the French Authorities at any cost. Based upon the above promise, the Chinese Lov. arment has allresul dispatch to the Chinese Bankers' Association, requesting it to convey to the public the promise of the French tiovenment, and inform ing the Chinese Bankers the decision the Chines Government to turn over to tha Chinese Bankers Association in Feking all the necessary funds which The Public is hereby notified that should be handled to the lunque Indus with reference to the regent declaratiam trille de Chine from period to period of the Banque Industrielle ed Ching for the payment of interests and thei for the suspension of business and the redemption of the loan. The Chinese liquidation of its accounts. and in com: Bankers Association is to utilize these pliance with the decisions made confunds for the payment of the French jointly by the Ministry of Finance, the bank nutes. The holders of the French. Chinese Bankers Association, the bank-notes fel now quite safe, but the French Legation and the Banque En Chinese shareholders and depositors ex dustrielle de Chine, the Chinese Bänkperience great inconvenience as they de ers Association is to advance funds not know when they are going to get tomporarily for the payment of bank back the money they invested in this potes to the amount of $2,210,000 issued bank. by the said bank at Peking. Tientsin, Shanghai, and Hankow, and circulated in the above named four cities and other places. As soon as definite arrangements are made with and by differeas Bankers Associations of the different cities referred to above, notin regarding the date and places; for the payment of the bank notes will be made known to the public, through, the new Papers."
THE CAPITAL OF THE HANQUE INDUSTRIELLE
DE CHINE 1
It was originally fixed that the capital
The following further paragraphs are taken from an earlier issue of the Peking Daily News:
AMOUNT OF DEPOSITS IN THE BANQUE
The Chinese Government has taken im- | mediate steps to ascertain the exact amount of deposits in the Banque In- dustrielle de Chine The total mount of Chinese deposits is over $11.000.000. As extraordinary high interest was allow ed to the sums deposited, most prople had transferret their deposits from other banks in the City with the confidence that this foreign bank would never fail them.
Chen Kuangyuan, Tuchun of
of the Banque Industrielle de C Kingai, is the biggest Chinese depositor.
should be Frines 230.000.000, to be raised in two instalments. When the first part of the capital consisting of Francs 150,000,000 was subscribed the share holders after paying half of the amount, namely. Francs 73,000,000, refused to pay mare, because of the mismanagement of the bank. Of the above. aniqunt, the Chinese Government subscribed a sum of Franes 30.000,000, constituting one third of the sun raised. Owing to the need of the bank, its Manager some time 429 widely advertised in Paris and "ether places. He tried to convince the French public that banking business in China would yield grent returns, and that the annual dividend of the shares of his bank would at Irnat be 20 or 30 per cent. Consequently through his efforts the other part of the capiti Francs 100,000,000 was almost oversubscribed, in & short period. Therfore the paid up capital of this bank is Francs 173.000.000. Tha reserve funds amount to Francs 40,000.000.
_DEPOSITS. ^,
The Chinese deposits are very insigni- feant in
comparison with those ju France." Owing to special, attractions and the high inducements offered to thị
public, the total deposits amount Francs 2.000,000,000.
THE CAUSE OF THE DISASTER.
Lu
who has an amount of several millions is reported that some very rich land pro- of dollars in the vault of this bank. It prietors in the countryside after dispos
of all their land, had invested tha proceeds in the Banque Industrielle de Chine, with the hope of obtaining more the past few years the harvests were poor murg and secure income, becňuse during and very meagre income was received on account of the constant drought. The amount of bank-botes is rather small in
comparison with those issued by other banks; but the amount of deposits is larger than most of them. Bankers Association has
The Chinese decided to this bank, but has not yet seen its way undertake the payment of the notes of
to eash the deposits. Therefore nothing can be done to relieve the distress of the numerous depositors for the time bring. MEASURES TAKEN BY FRENCH DOVERNMENT-
The French (invernment is also taking up measures to maintain the financial condition in Paris and in China. It has called several meetings of the Bankers in Paris. asking them for a loan of Francs 100.000.000, so as to enable the Banque Industrielle de Chine to mafun tain its crelit. As one third of the capi. tal was sunscribed by the Chinese Gov. The speculation in connection with the arnment, it has been suggested that the issue an purchase of rice in Saigon and with the Chinese Gorrnment shall, construction of steamers at Taiku is not be pledged as security for the above men
amount of $140.000.000 treasury bills" to the principal cause of the present fail tioned loan. If the above can be done. ure which was due principally to the all troubles with the Banque Industrielle withdrawal of supports from the de Chine will disappear.
However, this shareholders.. After investing their money these shareholders were informed of the rest situation in the enterprises embarked by the Banque Industrielle de Chine in China and its mismanagement, They at once, protested, and demanded detailed accounts to be audited and at
THE EFFECT OF THE SUSPENSION. the same time the payment of the out national Savings Deposits Society, some
Encouraged by the suéress of the Inter standing balanes of the shares subscribed in the first period, namely, an amount French Savings Deposit Society, which Chinese and Frenchmen started the Sino- of Francs 750.000 000. As the former share has also been doing good business. Since holders refused to make any further pay then several ment of their shares, the new shareholders societies have been crganized. The ans Chinese savings deposit demanded the suspension of business in order to make a fresh start. When the pension of business by the Banque In- dustrielle de Chine has seriously arcused the suspicion of, depositors, who are ob
Teal condition of the Bank was known, the public at once started a run to cash
"quires time and in order to meet the Association has decided to hasten the immediate ned, the Chinese Bankers conclusion of loan by the Ministry of Finance in order to cash the notes first.
the enormous amount of deposits, hente liged to continue their deposits otherwise the inevitable fate of the bank.
money
THE TOTAL LOSS OF THE BANK. It is estimated that the total loss aus- tained by this bank is" about France 200,000,000, that is, besides the total loss
they deposited.
will lose the
.
AMBER GLASSES.
already
of the paid-up capital there is still a Amber lenses have proved to be most efficient liability of Franca $5,000,000.
THE CHINESE GOVERNMENT AND THE BANK.
Al
A few years ago the Chinesy Govern for out-door wear in the tropical sun. ment contracted a loan of Francs irritating light rays are abnorbed and the result 150.000.000 from the French Government
bis
which undertook to sell bonds for China, is a restful feeling to the eye and a relief from The greater part of the proceeds were the white glare Amber lenses are especially employed by the late Yuan Shih-kai for his Monarchy Movement, and the balance recommended to those whose work takes them of Franes 30,000,000 was deposited in bank.
More recently a loun of several in the bus. Army officers had them indispens tens of millions of France was concluded from this bank for the improvement of able on the range, perous contemplating a ses municipal affairs in the Capital; and the voyage will find these glass es almost a necessity proconds are still" deposited in it. The Amber lenses of any prescription in either, official capital of $2,000,000 for the Peking
Tramway Service is part of the sum de regular or Torio forms are manufactured by posited by the Government with this The Hongkong Optical Co., Successcen to bank. The Chines capital of Frauca Clark & Co., Scientific Opticiana, located in
How Queen's Road, Central--Apvr.
50,000,000 was not paid, as all former shareholders refused to pay more.
(562
MON,
"TUES,"
THEATRE
ROYAL.
RETURN VISIT BY GENERAL REQUEST
of the
BANDMAN OPERA CO.
July 18th. July 19th. WED. July 20th. THURS, July ist. KRL Jnly had.
BRAN PIE
“AFGAR. “IRENE.”
"THE BETTER. 'OLE.
WHO'S HOOPER.” Hooking at MOUTHIE'S, TURDAY, July 12th. Price: $4. 82 & 1.. Overtare at 9.15 prompt.
TO-DAY'S RECIPE
ORZAM SANDWICH.
NESTLÉS
Ingredients eggs, 44 va, raster sugar, 4 oz. flour, 1 o, initter, Ill teaspoonful baking ponder, bi oz, tim NESTLES Pure Rich Orem,
[1184
He
Method.-Beat the eggs and engar together for 10 minutes, melt the butter, but do not make it hut, then stir in the doar and baking powder and butter. Grew dripping-tin and bake in moderate oven for 15 or 20 minutes, When end, split open, spread the creaZI, whipped, on one half, place the other half on the top, sprinkle caster sugar urer, and ent intu squares or fagers,
NESTLE'S REAL CREAM
Chtaisable at Lane, Crawford & Co.." and other Stores.
TWO SIZES
50 cts. per tin.
113
15
90
ED. WHEEN & SONS, LTD. 8, French Bund. Shanghai.
Woullen Merchants,
Estil 1
WHEEN
ESTO
COWARD W
SHANGHA
SONS
18から
MANCHESTER
Uffer of New Cloths:
SPRING SUITINGS COSTUME CLOTHS - COATINGS, INDIGO
and MLACK SERGES GREY FLANNELS CREAM TWILLS CRICKET. FLANNELS SUPERS And UNI- FORM CLOTHS IN CASE LOTS, single pieces
or short lengths
(any length cut).
Quotations dif, any Port. Prompt Shipment from Bleck,
BERGER'S PAINTS.
[105
1024
ALL KINDS
ין
PREPARED PAINTS OF
AND COLOURS. BERGER'S LIQUID RED LEAD Unvers 50 per cent more surface, weight for weight, than the ordinary luni mixed Red Lend. MATROIL-The oil paint you thin with water. Covering purity cue third more than that of Washable,istenier.
STRUCTURAL & ROOF PAINT– Ä
preservative.
BERGER'S VARNISH. OAK VARNISH,
BLACK JAPAN, COPAL, ETC. LEWIS BERGER & SONS, LTD. PRICES ON APPLICATION-STOCKS CARRIED.
SOLE AGENTS:
W. R. LOXLEY & CO.
SIN, BERGER MADE FINE COLOTES 18 18SON IN 199.
SWAN
FREE
FOUNT PEN,
DEFIES. HEAT
Its perfect fit and scientific construction Illüstrated CATALOGUE' preventing that annoying clogging and evaporation of the ink which attends the use of the old-fashioned dip pen or the cheap and nasty type of "Zountain pen The "Swan" has a perfect ink-food, la Etted with a guld nib iridium tipped, not look, and is easily filled and cleaned.
SLEX
112
THE SWAN
SOLD BY ALL JEWELLERS, STATIONERS AND IMPORTERS,
MÁBIE, TODD & Co.,
Manufacturin, LONDON.