Page
"
CABLES.
LATEST CABLES. {THROUGH. REUTER'S AGENCY.]
THE HONGKONG DAILY
FRENCH CONSENT OBTAINED FOR USE OF GOLD DEPOSITS.
LONDON, January 4th.
It is learned in official circles that the Government, before using French gold in PARIS CONFERENCE BREAKS connection with War purchases, obtained
DOWN.
the unequivocal permission of France.
SUGGESTION BY NEW YORK CHAMBER OF COMMERCE.
**DEEP GRIEF AND ANXIETY. EVOKED.""
LONDON January 4th. The deep grief and anxiety evoked by'į "the brikdown at Paris is tempered by feeling of relief, for we at least know where we stand.
It, la ́expected, that the Cabinet will meet on M-Bouar Law's rotura to-day, whom it is believed the question of the withdrawal of Sir John Bradbury.. from the Reperations Commission will, be" cone widered. France's next, move is anticipat od with the griatest apeasiness,
All the editorials in this morning's newspapers are couched in a friendly tone towards France, but it is generally unequivocally recognised that England must completely dissociate herself from the foreible action which Erance appar ently contemplates, and acute apprehen- sion is manifènt regarding the conse quences of such an isolated move for?
PRESS
THE ITALIAN PROPOSALS
SUBMITTED..
SATURDAY, JANUARY 6TH, 1998.
LATEST CARLES..."]
ENGAGEMENT OF PRINCE OF WALES.
PROBABLE ANNOUNCEMENT WITH-
IN A FEW MONTHS...
LONDON, January 4th... The Daily News states that it has authentic information that the formal announcement of the engagement of HR.H. the Prince of Wales to a daughter of a well known Scottish, Earl will be made within. the next two or
three months.
The family in one of the oldest. in the Peerage, with castles both north, and south of the Tweed.
LONDON, January 4th, The Italian proposals which were sub- mitted to the conference suggested that the Allies write off the O bonds, thus reducing the German debt to obligations under the A and B, bonds, and 'grant a moratorium for two years on condition that Germany should accord guarantees, Germany to raise as soon possible a loan for at least three milliard gold marks The guarantees suggested by Italy com New York, January, 4th. The Chamber of Commerce has referred prise maintenance of control over the
port and import licences, direct manage- to the committee a resolution urging Con-ment by the Allies of the Rhine frontier greas to consider a plan for the payment and control of the German State forests of European war debts to the United and the production of the State mines. Paris, January 4th. States during the next hundred years The Fretch and Belgians and Italians. instead of the arrangements calling for will continue the conversation to-morrow
after which the Belgians will proceed payment within twenty-five years
homeward..
ANGLO FRENCH FRIENDSHIP. REMAINS UNCHANGED.
PARIS, January 4th. Mr. Bonar Law explained that the discus In a statement after the conference, sits throughout were most friendly. Both M. Palucare, and he concluded that there was a vital difference of opinion be tween them, and it was obvious nothing could be gained by long discussions" and arguments. Mr. Bonar Law's concluding statement to the confereren declared that,
WASHINGTON, January 4th after earnestly considering the French At the opening of the bearing of the proposals, His Majesty'n Government was definitely of cpinion that, if carried Prohibition cases, an affecting the steam- fail to chain the desired results, but sel for the foreign steamship lines cited into effect, the proposals would not only ship companies, Mr. Wickersham, Coun- would be likely to have a grave and even
ITALIAN CABINET CONFIRMS"
· ITALIAN "STAND,
J
Rowe, January 4th.
A meeting of the Cabinet at which Premier Mussolini was present confirmed the attitude of Italy and déclined to accept the British reparations plan.
FRENCH PLAN TO BE CARRIED OUT.
PARIS, January 4th. There is no doubt that while acting with moderation and wing froid, France will now resolutely and firmly puts into excoution the plan she asked the Allies to
The Daily Mail adds that the bride elect has both beauty and brains, is very popular in society and is one of the closest friends of Princess Mary. PROHIBITION ON FOREIGN
SHIPS.
* SEA STORES AND SHIP'S
EQUIPMENT.
France and the whole of Europe. It is pointed out that the British offer as gards the remission of debts necessarily subscribo to, saya a statement emanating disastrous effect on the economic situa a Treasury circular issued in December, i
falls the ground.
GRAVE COMMENT BY BRITISH
PRESS.
THE WHOLE SADRIO OF TRACH IN GRAVE
DAN QER.""
The whole fabric of peace is in grave danger, declares the Pues, referring to what it terms the reckless adventure con- templated by France. It says that we are deeply concerned with the risks France has undertaken. British, friend- ship, through France's own action, must perforce remain inactive in the perilous hours now at hand. The Tintes is of the opinion that a situation has been created in which the recovery of adequate re parations is extremely doubtful, and con- elades that France is venturing alone aaong her enemics.
from semi-official "sourcen
tion in Europe. Therefore it was unable support of the contention that sos to participate in, or accept the respon-stores and ship's equipment were identi. sibility for such proposals. At the same cal. time it assured the French Government
*
The statement adds that all hope of Great Britain eventually rallying to the French scheme, it it proves efficacious that, while extremely regretting the irre-PROFITS OF BARCLAY'S BANK and productive, must not yet be aban-concilable difference of view on such a
serious subject, the feeling of friendship" TIMES" COMMENT ON BANK'S
TRANSACTIONS."-
doned.
EARLIER CABLES.
AMERICA MUST ACT QUICKLY.
which the British Government and people had towards the French Government and people remained unchanged.
||
LONDON, January 4th.. Barclay's Bank nat profits for 1922 are approximately £2,500,000.
LATER.
M. Poincare replied that the Fronch Government had examined most atten- tively the British proposals, and the NEW YORK, January 4th.
longer they studied them, the more they
The profits include £835,000 carried The newspapers are unanimously of were obliged to recognise that the pro opinion that a breakdown of the Paris possis involved a considerable reduction forward, and the net profite, after pro- in the debts owing to France and the viding for bad and doubtful debts are conference may be expecter!. The New
averthrow of the Treaty of Versailles, and Fort World says it, Mr. Hughes means that it would be impossible to accept such £1,873,000 as compared with £2,201,000 in business he must prepare to act quickly a solution. The Government and Repub-1921.
The dividend on B. and C. shares will and deal with the realities of the probic deeply regretted their inability to agree with Great Britain on this serious lem, namely guarantees, before France question, but thanked the British Gov-be maintained at 14 per cent, por annum, commits herealf to a policy of independernment for their friendly statement and but the amount placed to the contingency The Daily Telegraph consoles itsolfent action against Germany. The New assured them, notwithstanding the differ account, will be reduced from £500,000
ence of opinion, that the sentiments of to £250,000. with the belief that only good can come York Times says the British plan is an
the French Government and nation and resta on purely towards England remained unchangingly impractical, ons from getting down to plain political facts and fundamentals, and emphasises nomic considerations, which are at cordial. that there is no thought of a rupture.
present only a minor part of the question. It thinks that the United States may take BRITISH PREMIER SENDS URGENT diplomatic action.
The Daily News is of opinion that Premier Poincare's contemplated action
will be an irrevocable step towards end ing the Ertente, provoking the undying hatred of the German people. The British Government must seriously con- aider, when the die is cust, whether their troops will remain on the Rhine.
DESPATCHES.-
PABIS, January 4th. While the British and French delegates this morning were firmly adhering to their respective programmes, the Bal gians and Italians are still hopeful that
compromise will be reached.
.
י
BANKING CONDITIONS IN
FAR EASTERN
NEWS.
CABLE
(THROUGH BALTI'S AGENCY.)
THE PEKING CABINET,
MANDATE "APPOINTING, CHINESE
VABINET ISSUED:
PEKING, January, 5th. A mandate issued at midnight appoint
THE FAR EAST.
REVIEW OF THE STATIST."..
Japan was the first country in which symptoms of the economic origin, through i which the world is now passing mami- DR. C. T. WANG REFUSES PORTFOLIO. fested themselves." If the first decisive signs of recovery are to come from the same
PERINO, January 6th. quarter they are by no means clearls
Dr. C. T. Wang andquares that "the" That there has been an im evident," disappointing in axtent. The silk trade, Justice was issued without his consent. provement is undeniable, but it has been mandate appointing him, Minister of which is an important factor in Japanese He informed the President, this morning, prosperity, shows only limited signs of revival. The principal market is in the that under no circumstances would bo United States, where the uses of the accopt.. material Apetuate with the vagaries of fashion. Besides, markets in Franco and on the Continent generally aro taking only a limited quantity. Exports of raw silk in "April, May, and" June last show ed, however, considerable expansion, and as a result raw silk stocks in Yokohamad the Cabinet. The personnel was as have been reduced, especially since April forecated in yesterday's cable message, of this year. The production of cotton but Dr. C. T. Wang has been appointed yarns. too, is expanding, the figures for Minister of Justice and Peng Yun Yi May and June being higher than in any Minister of Education. previous month of the year. Exports of cotton yarns and of certain classes of cotton goods have also beer rising, coin- aldently with increased shipments of silk | fabrics. Raw cotton importa show heavy decline, but wool importe, up to June last. were on the whole expanding, as were the imports of iron plates and
PERING, January 4th. aborts. Other satisfactory indications Wang Seng Chu presided over 196 were the heavier tonnage of goods car members in the Senate this afternoon ried on Japanese State railways and an when the vote was taken for the election in the foreign trade. Despite these wel. Yun Tai securing 81 votes, Wang Chia increase in the tonnage of vessels cleared of a Speaker, which resulted in Yang como features prices up to August last Hsiang 89, and 16 were invalid, which were still pursuing, with minor inter. was indecisive as a majority of voted coat raptions, a downward course. If we take is required for the election of a Speaker. the inder-number compiled by the Bank Another yote will be taken on January of Japan, based on the average monthly 8th. quotations of 36 commodities," the aver-
[ar COURTESY OF DAILY BULLETIN."]
SENATE SPEAKERSHIP,
ELECTION ABORTIVE.
A. TRADE-MARK CASE.
a level of prices was represented by 258.3 in September as compared with 26.0 in 1921, 341.9 in 1820, and 3100 in 379.5 in January, and an average of ALLEGED WRONGFUL MISUSE OF
1919. One highly desirable result has followed from this continued deflation-
"THE ORIENT TOBACCO CO.
TRADE-MARK.
Mr. M. H. Turner, solicitor, appeared an improvement in the financial position at the Magistracy, yesterday morning, on As may be seen by reference to the behalf of Mr. Carl Ingraohl, trading, as Foreign Exchange Chart which appears
....
WIS
carlier in the present issue, the discount the Orient Tobacco. Manufactory, Mong- ou sterling in terms of yen has been kok, to prosecute Sam Hing Loong of No. almost uniformly decreasing since August, 87, Queen's Road Central, who
charged with having sold or having ex- 1921.
posed for sale, certain boxes of cigars having the brand "La Porla del Oriente" trade mark, which was a falsely applied trade-mark, closely resembling the Com- pany's trade mark, and therefore likely
In China, as in Eastern markets generally, while the export trade shows no marked activity, the import, trade has been helped by the clearing off of a cumulated stocks. The demand for reto deceive. placement of the latter has not yet sprung up on anything like a large scale and had come to las him last night and Mr. Turner explained that the defend- This is partly due to the depression in in fairness to him he thought that time the Eastern exchanges, occasioned by the should be allowed for him to engage a continued fall in silver. The course of
in our introductory article on Indian settled out of Court before then. the silver market is dealt with elsewhere solicitor. He also added that there was a possible chance of the matter being Banks.
The Magistrate adjourned the case until Wednesday next.
JUST A LITTLE CRAZY,
There is a well known character in
The Times comments on the shrinkage of the profite saying that this is inevitable A WRANGLE REGARDING WAR Owing to trude degression and the falling The civil war and the generally un-
MATERIAL PURCHASES. level of money rates. The deposits with settled conditions in the Chinese in
terior have been other factors unfavour- LONDON, January 4th
banks fell steadily during the greater able to trade development. The protract One of the things which has angered part of last year and loans also were ed Tsingtat controversy, between China the French most ic-day is the revelation heavily reduced. The demand for loans and Japan has fortunately been ended. Yaumati, named Fong Wan. He earns that £10,000,000 gold on behalf of France has only lately tended to expand. The now so strongly pronounced as hitherto and carrying water for the stall-holders and the anti-Japanese attitude is not his living by aweeping the market stalls and £18,000,000 on behalf of Italy, de-reduction of trade and the demand for The Enancial embarrassments of the posited in the Bank of England during money for the funding of Treasury Bills Governants both at Peking and Canton They say be is "shui shui mung tea" (a the war, had been sent to the United and the consequent lowering of money ham, however, remained unsolved. Dif- little crazy), but uff to yesterday he States to purchase "war material for the rates led banks generally to increase ficulties were not lessened by the after stoutly denied the allegation. The other The conference this afternoon will Allies. The papers in Paris declare that holdings and investments, including gilt effects of the destructive food in the day he looked up a stall holder and probably be confronted with two schemes, France was thus deprived of a most edges. The rise in the value of the latter hinterland of Hankow early in 1921. This asked for work, poking him in the back the Italian, which approximates to the valuable deposit, safeguarding French brought substantial profits, considerably food scrarely damaged crops and inter- to attract attention. The stall-holder French, and the Belgian, which provides credit. A French semi-official statement offsetting the diminution in profits from fered with the already reduced exports. as busy and told him to go away a for a shorter moratorium than that sug-explains that the gold was deposited as ordinary trading. Bad and doubtful The disturbances between the provinces he had no time to play with him them. seated by the British, but supports the security for an advance of £150,000,000 debte had been an important feature of of Huper and Hunan have not helped to Fong was annoyed at the idea of the by Frage must drive Great Britain ia-rech in demanding guarantees during and was restorable within three years the year, but should require less provi- restore banking, confidence, already stall helder suggesting play when he was
the moratorium. A noteworthy develop after the war, at the same time, as repassion for in 1823 than in the past...... creasingly towards detachment from the ment to-day was the departure as two ipment of the advance was effected, concerns of the Continent.
the afternoon of a special messenger with The Chronicle says. that despite the urgent despatches from Mr. Bonor Law absence of a breach, only the semblance plaze.
to London, in a French military aero- of the old reality of an Entente remains. USELESS TO CONTINUE THE TALK.
The Graph'e states that nothing must be done to make the Anglo-French rift
The Westminster Gazelle terms the
rupture a disaster. The policy outlined
נן
W
+
LATER.
BARLIER CABLES.
A financial authority is quoted in Lon- don today as stating that the British Government, merely as a book-keeping SOUTH AFRICAN TEST MATCH Bank of China and the Bank of Com-inch into his back. The stall-holder,
greater. The Morwng Post and the Daily his afternoon, and was interrupted ating financial stress.
Mail alone criticiso Mr. Bonar Law.
The conference reassembled at three 4.30, in order to enable the delegates to
SENSATIONAL WIN FOR M.C.C.
The Morning Post regrets that we haveinine Mr. Bonar Law's detailed reply the interest on their debts to Great Bri-spectators. The wicket was perfect to being heavy holdiers of Chinese Govern both charges but he had no hesitation in
to M. Poincare. Heuter learns that prior
A
transaction, paid to the French "intercat ca this gold, and this was construed as carrying liberty to use the money as thought fit, instead of its lying idle dur
It is pointed out that neither France nor Italy has paid parved from France, for what is oppe
Oncial circtos declare that Great eatly, entirely unnecessary solicitude for to the interruption M. Poincare deliver Britain was most justified in her actic Gurning and trusts that the inter cd something in the nature of us and has a set-off both on the interest and will continue, but says that certainly it ultimatum, declaring it was useless to capital in the amounts owed by Franco will shortly be subjected to severe teste. continue the talk unless guarantees or and Italy. They also stress the futility The Daily Mail deplores, Great anctions were accepted. It is under-of rebuying gold merely to re-deposit it Britain's drifting isolation while Europe stood the British delegates will leave in London, is steadily drifting nearer to unknown Paris this evening if the Italians also
PARIS, January 4th. dangers and states that the Government oppose the British plan.
It is stated in French circles that to should never have allowed a differenco A PERIOD OF HOPE AND FEAR morrow's conversations between Franco, of opinion to lead to a rupture.
Italy and Belgium will be purely PARIS, January 4th." GERMAN FINANCE MINISTER'S On the resumption of the conference at courtesy interviews and in no wise a con-
SIGNIFICANT STATEMENT.
three this afternoon Marquia Della Tor- tinuation of the Conference, which is de rotta eubmitted the Italian proposals. fieitsly closed. LONDON January 4th.
A MORATORIUM WITH OR WITH. Bonar Law followed, reading a detailed statement, being a further reply to the
OUT · PLEDGESI French criticisms of the British scheme.
PARIS, January 4th M. Poincare thereafter spoke, declaring
Since the ccnference in London M..
H
;་
secret
severely shaken by the failure of the looking for work. He drew out a dagger Banque Industrielle de Chine. An ind gave the stall-holder another pake dication of this lack of confidence is pro- in the back. The dagger found its way. vided by the runs that took place on the through four suite of clothing and an despite his wound, succeeded in captur- munications in Peking and Tientsin.
Defaults in some of China's unsecured ing the man. loans have bindered the efforts of tho Fong was charged before Mr. Lindsoli, CAPE TOWN, January 2nd-
Central Government to obtain financial yesterday, with cutting and wounding England socured 173 for 9, and won the assistance abroad. Our interests in the and with unlawfully having in his pos Test by one wicket,"
There was brilliant weather, with 2,000 country dre considerable. as, in addition on a dagger. He pleaded guilty to Mann and Jupp compiled 45 and 38 share of the Chinese import trade
ment obligations we do a considerable telling his Worship that he was "mad
It and willy." respectively in a gallant stand, adding is unfortunate that the Peking Adminis- The Magistrate ordered him to bo sixty-eight for the seventh wicket. Then tration suffers from a scarcity of both placed under the doctor's observation for Brown was run out for a duck." The money and men, and has been largely a few days. crowd were greatly excited when Ken-shorn of its authority. It may not be aedy and Macaulay came together for the amiss to point out that over the colles cohesion, despite the numerous last wicket stand, with five runs only tion of taxation in the provinces the societies that exist, while illiteracy is needed for victory Kennedy hit a Government have not for quite a number widespread, over ninety per cent. of the boundary, bringing the scores level. Then of years exorcised a large measure of population being unable to read or write. the fieldamen closed in, for & last drape control, having been content to demand The Consortium has more than once ex- rate effort to stop the winning run, but the remittance of a fixed sum and allow pressed its readiness to co-operate with after being completely beaten by the ing the local authorities to impose such Chinese banks in any well-considered socce ball, Macaulay got the third taxes as the people would endure. The scheme for funding the floating debt by away, and the match finished at 2.30 wint of uniformity in the tax system the issue of internal loans in silver, or amidst long and hearty cheers for the often led to extortion, and, coupled with
for raising foreign capital on approved. In view of the crisis's significant state
the diversity of interests of the hetero terms for railway construction and other gereous race classed under the term works of public utility. With the country ment has been made by the German
WHAT TURKEY. WANTS. Chinese, it helped in that undermin- divided as it is, such co-operation is at Finance Minister. In the course of an in-
ing of Peking authority which has been present impossible, no matter how Lerview in Berlin he said, "We cannot that little could be gained by further Poincare and Mr, Bonar Law had realis ENTIRE TURKISH PROGRAMME.
going on since before the War be expected to commit suicide in. pay discussions on the present lines. He said the impossibility of reaching an agree
strongly its critics, and they are many. The present disturbances naturally ing, and we won'ti. I warn the world the French were not opposed to a
CONSTANTINOPLE, January 4th.
affect the revenace derived from Mari may condemn the Consortium. The that this nation, though weak and weary,moratorium, but must be accompanied ment to-night.
Beouf Bey, the Angora Premier, in a time Customs and the Salt Gabelle, which critics forget that the old Consortium put through a tremendous amount of will not accept another slap in the face by substantial guarantees. Mr. Bonart prevent them doing their utmost to If such a slap comes, then the fury that Law replied adhering to the position that secure agreement, Mr. Bonar Law stated speech before the Assembly, insisted on constitute the chief sources of payment nsefal work, financial and otherwise, for the imposition of guarantees during the that M. Poincare brought the issue to a full satisfaction of the entire Turkish to holders of Chinese bonds; but with its will seize this tortured people and break moratorium would defeat the object in point by expressing the opinion that programme as regards Thrace, the large territory and population, and it China, and, that the new Consortium in animated by the same desira to be useful. the borders of restraint, will get beyond view. The conference adjourned until nothing could be gained, and possibly Straits, the Capitulations, and racial enormous mineral wealth, China would If China hte in the past been too often The control of any Government.?
4.20 to enable the delegates to examine something important lost, by futile at minorities. He suggested that the United be bound to make immediate progress if a pawn in the gate of international
stabla Government were Rocured. FRENCH TROOPS ON LEAVE
the British detailed statement.
tempta to reach a vopromise, in the States should provide a national home
Poblio indebtedness is relatively small politics, politicians must bear the blan
hot bankers, The conference resumed at 5.30, the reality of which nobody would believe. for the Armenian on American soil.
Taking T Hongkong dollars a equival- In Chosen the economic situation bad Belgians having not yet spoken. Circles M. Poincare, stated that there was a ditch
MYSTERIOUS CANADIAN ent to £1, the internal and external debt outside the conference and swaying with between us, and not only the views of the
of the country amounts to only £240 up to recently shown few signs of ro hope and fear. It is freely stated that a French people made a bridge impossible,
million approximately, of which about vous years The process of readjust
overy from the dulness ruling in pre- rupture is inevitable and that the British and, the only chance of agreemat lay in representatives will return to-morrow being able to find a way from one side ANOTHER CATHOLIC INSTITUTION 48 million is quite unsecured: Of the ment of values was still under way in the latter sum C28 million represents foreign early part of the present year, and new The aeroplane carrying Mr. Bonar Law's or the other. M. Poincare defined the
debt and £19, million debta owing to despatches to London broke down shortly ditch as follows:-"Is there to be
enterprises are naturally scarce pending native bankers and to individuals, as Me Quiero, January 4th.
o return to more settled conditions after leaving Le Bourget Nobody was moratorium with pledges or without
The Good Shepherd Convent of St. well ad arrears of pay of civil servants, Bome encouragement may be derived telegraza injured. The despatches contained a pledges ??? received by Le Journal all men on leave fall report of Mr. Bonar Law's speech" Mr. Bonar Law and he was unable to George de Beauce has been destroyed by st
yesterday, and his reply to the French accept the distinction in that form and
RECALLED. ́ ́·
PARIS, January 4th! The French troops on the Rhine were ordered to bold themselves in readiness for all eventualities when news of the rupture was received at General Head Quartera
According to Mayence
Jave been recalled.
ITALY AND BELGIUM ENDORSE
FRENCH VIEW
Nevertheless, that did
victora
FIRES,”
DESTROYED.
This is the eleventh Catholic in.
a
14
1 criticism. The contenta were telephoned insisted that the difference was simply 'stitution destroyed by fire within Ailling to come to the assistance of any improvements are present as the penin-
to London.
whether the steps to be taken would or END OF THE PARIS CONFERENCE, would not prevent the recovery of Ger- PARIS, January 4th, “
- LONDON, Jaduary 4th. man credit, and whether it would be bet It transpires that the Belgian and The conference of Premiers at Paris Lester to seize whatever was within reach Italian delegates at the afternoon sitting broken down, ale
or to consider whether what was scizód also declared that they were unable to The diagreement was friendly. The would prevent the recovery of German Wcept the British plan. They endorsed British delegates are returning
to crudit, in which lay the hope of obtain abe French view,
Morrow,"
ing a larger rum.
year.
The new Banking Consortium formed from the fact that drops have been good, a few years ago hao naturally been unwhile agricultural exports have also im
proved. Bovides, the fundamentals of of the warring factions in China.
·LENIN'S JIBALTH WORSE.
Political rule is to too great an extent sula is excellently situated from the point concentrated in the hands of the military, of view of commercial relations with BERLIN, January 4th, who, as a class, are disliked by the other countries in the Far East, having to the west, China, to the east, Japan, Professor Klemperer, the specialist in general population: Their exactions are, and to the north Manchuria and Siberia. internal diseases, has again been an however perforce endured in silence, If possesses, in addition, a good system moned to Moscow to attend Lenin, since the country is singularly lacking in of communicatiers and a well-developed arbosa health has grown worse.
(Oontinued at four af next column,) banking organisation.