utler Falmer &&
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SOLE AGENTS
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ALL KINDS OF
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AND
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IN BROWNS IF GREENS WOOD PRESERVATIVE
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Sover it
Oost in Bender-
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of Woodwor's Ten
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PREVENTS DESTRUCTION OF TÍMBER BY WHITE -
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“HONGKONG.
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FROM
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CRAWFORD
00.
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ATEO
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THE LẠTH MR. J. HOWARD
GWYTHER..
EX-CHAIRMAN OF THE CHARTERED BANK.
ARMAMENTS "CONFERENCE.
INTERESTS IN CHINA. Mer
"At the international conference on Economic Recovery and World Peace, at Caxton Hall, London, recently, Mr. An olatuary notice appears in a home Arthur Henderson said that the Washing- paper of Mr.J. Howard Gwyther, formerlyton Conference would be faced by the chairman of the Chartered Bank of India, same fact which 'faced the present gather-. Australia, and China, who died at histing that armaments depended upon If the Governments went ko residence, 13, Lancaster Gate, W., on policy. October 2lat, at the ripe age of 80 years. Washington with a genuine desire to Born in 1835, at Milford in South Wales. decrease the expenditure on sṛmamenta when seventeen he entered the banking they would have to go with a considered house of Messrs. Rogers, Olding & Co., policy which would make the need for and remained four years. He transferred armaments less urgent The policy which to the City Bank in 1866, and spent two would most closely affect the Washington years entirely in the discount office. Mr. Conference, was the policy with regard Gwyther then went to the Chartered Bank to China. It was well known that lindre: of India as sub-accountant in London, wore powerful financial interests ---in- and, after three months' probation, pro- fluencing the attitude of the Coalition eceded to Singapore in 1859 as account Government. Those interests had much ant at the branch. After one year's ser to gain by arrangements with regard to vice there, be went on to Shanghai as China which would give them a writte accountant, and after one more year be held for their operations either in iso came manager at Shanghai. This post lation in British spheres or in combina also he only occupied for one year, and tion with the 'financiers of other of other loft it to take up bill-brokingy in succes countries. The real affects of our policy Bion to Mr. Page." He came home for a in Chins were to be judged not by pro- holiday in 1861. Just as he was returning fessions of goodwill to the Chinese, but to Shanghai, in 1865, the Chartered Bank-by-the operation of interests foreign to of India offered him the post of sub-China under the protection of the prestige manager in London, under Mr. G. Ure of the British Government. We could Adam Five years later, on Mr, Adam's not seriously attempt to reduce expendi- retirement, in 1870, Mr. Gwyther became ture on armamente until our policy no manager in London. It is well known longer aimed at financial or commercial how the bank prospered under his direc, exploitation. tion, notwithstanding the trials connected Viscount Kano (Japan) said Japan PAR with constant fluctuations and depression often accused of being the most militaris in the value of silver, following on its tie and jingoistic country in the world. demonetistation in 1873. During the The failure of Prussian militarism had twenty odd years that he occupied the taught Japan a striking lesson. At the post the management of the Chartered same time Japan was fading the burdea Bank was noted for its prudence, and of armaments almost intolerable. Dis whilst, of course, it was impossible at armament was more urgently welcomed all times to conduct an Eastern banking in Japan than in any other country. business amid the ever-varying viomil- A resolution was passed calling nou ades of exchange fluctuations without the Governments represented at the Wash. making, losscs, it maintained a steadyington Conference" to inaugurate a dividend. For many years Mr. Gwyther great measure of naval and military dis was looked on as the authority in the armament, and thus give reality to the city on Eastern banking, and the quali- hopes cherished by those who gave their ties which deservedly earned him this lives in the Great War to bring about a respect maintained the Chartered Bank new and happied works."
in the high position it has always held. In the early stages of the troubles in silver-waters he took the precaution to
་ ་
1911.
WORLD THEATRE
PHONE
PHONE, 1337
Hongkong's Most Modern Picture Palace Entirely Under British Management TO-DAY_st_ 5.15
9.15 pm.
ELSIE FERGUSON
"UNDER THE
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ROMANCE! THAT'S WHAT THEY NOW! LOVÉ AND ADVENTURE AND BEAUTY. AND HERE IT IS in ANOTHER CHARMING ELISE FERGUSON PICTURE.
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keep the capital of the bank written down BRITISH NORTH BORNEO CO. to its sterling alue, meeting the drop The report for 1920 states that the step by step, and not learing it to be. laced when some exceptionally good year total receipts were £451,864, of which -which, in fact, did not come might 42,334 is in Borneo and £38,530 in of daring. make such a scheme feasible. Alter London. Expenditure £235,058, being twenty-seven years in all in the London £215,223 in Borneo and £19,834 in office he handed over the duties to the London Receipts exceeded expenditure It by $228,806. Net expenditure on spital Jate Mr. Thomas Forrest in 1892
may be noted that when he took over the account was £101,140 in respect of rail- management the reserve fund stood at ways, telegraphs, works, buildings, etc., £10,000, and he left it at $250,000. On including £30,025 immigration,” land leaving the post of manager he became ettlement and forestry, proportion of managing-director, and then subsequently salaries, aubsidy to steamers, and other Chairman of the Bank. In March, 1893, penses chargeable to capital Balance many of his old Straits and other friends forward was £100,322, and profit for 1990 presented him with his portrait, painted 8,806, makes £327,129, of which in by A. S. Cope, and a service of silverterent on debentures and certificates of plate, as a mark of their appreciation of indebtedne absorbed £51,475, depre- ciation and other items £19,187, special himself, and of his work
In conjunction with Mr. H. H. Gibbs war bonus to officers in North Borneo (afterwards Lord Aldenham), Mr. H. R.,, leaving £258,065. A dividend of 3 Grenfell, and Mr. Paul Tidman, Mr. Per cent. is recommended, absorbing Gwyther was one of the eldest advocates absorbing £50,000. The depressed state of of bimetalism, and was on the Council rubber market has compelled several of of the Blimetallic League. In this company's rubber companies to seek matter, as with all bank business, the financial assistance, which the Court were amallest detail was never too trivial. He compelled to grant. Large advances have entirely ingratiated himself with all also been made to other companies ope Eastern merchants, while amongst the rating in company's territory, and to whole staff of the bank he was looked August 31st, 1921, £70,000 has been loaned upon as a chief under whom it was a to companies, and additional £30,000 pro- privilege to be doing service. As was mised up to December 31st next. Trad- written of him on his ceasing to be era have been forced to liquidate their manager in 1899:He made himself debts in Singapore, thus oocsaioning very agreeable to customers, to staff and to large, withdrawal of liquid funds from Government Treasury for zodemption of directors alike; was never spoilt by Treasury notes Depression still con success; never spared "himself in the matter of work, nor was guilty of in tintes and Court feel bound to conserve justice sither to customer or subordinate resources sa much as possible, and for In the matter of help to young men he this reason they are able to recom mend larger dividend than that propos was conspicuously painstaking, and reaped. Certificates of indebtedness to extent ed a harvest of esteem. There are many of £14,340 were redeemed, making total who will echo these words.
The funeral ceremonies of the late Mr.redeemed of £44,877, With regard to 4) Howard Gwyther took place at the per cent. debentares, £84,100 had been Golder's Green Crematorium on October set aside up to December 31st for their 25th Bir Montagu Turner, chairman of redemption, and was muitably invested. the Chartered Bank of India, as well as From January 1st, 1917, to present date other representatives of the bank, were £129,877 has been set aside, averaging present in addition to the relatives and more than £25,500 per annum. many friends.
TICHANGE
A London contemporary of October 27th saya:---
The past week has been characterised by three notable events in the world of fiance-a collapse of the German ex- change, a heavy fall in the sterling value of the rupee, and a sharp drop in ex- change with China. Mesars Samuel Montagu & Co, state that it is difficult. to avoid the conclusion that these occur ronicos were connected. It is probable that the difficulty of carrying out con- tracts made on German account for the purchase of goods from India and China may have unsettled the exchanges of these countries In any case, the set- back in rates from the East shows the danger of speculation in exchange (whe thor, guided by intelligetit anticipation or not) in times ao prone to the entry of unexpected factors. The collapse of the German exchange had a result upon these other exchanges similarly to a pin- prick in a toy balloon. Trade alone in the decisive factor in exchange, whatever temporary effect may be caused by senti ment or speculation.
CORNISH MINERS' EXEMPLARY CONDUOT.
The extreme poverty of the Cornish tin and clay minars is prominently described in the newspapers and all agree that the forbearance and patience of the starving men is exemplary. The said says the case stands by itself. It deserves and re- quires a measure of special frontment. Suggestions are published urging the Government to endeavour to supply ex plosives from the war storms. nominal prices, also cheaper coal.
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8,000
TOYS!
JUST ARRIVED FROM EUROPE
ST. VINCENT DE PAUL SOCIFTY'S
.[1200
28TH ANNUAL BAZAAR.
"
4TH DECEMBER, 1921.
few of this magnificent assortment of Toys on view in Mosses. KOMOR & KOMOR'S windows and at STAR FEREY WHARF, HONGKONG.
In addition to the usual Earrin STALLS, there will be & TOY BAZAAR where a large number of Toys will be sold at very reasonshis prices.
See the Toys now being offered to the highest bidder in Mr. 8. WALDMAN'S window (Barra-Cara TOBA000 Stox). Ice Hou
Street.
COME AND HELP HONGKONG'S POOL.
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[105