Page
THE HONGKONG DAILY PRESS, MONDAY, FEBRUARY 26TE, 1913.
P. & O. BANKING CORPORATION, IT HONGKONG & SHANGHAI
(INCORPORATED in England, 1920,
...with which is afiliated"
THE ALLAHABAD BANK, LTD
AUTHORISED CAPITAL
SUBSCRIBED AND PAID UP
RESERVE FUND
Board of Directors
£5,000,000. £2,594,160,
£90,000:
The Rt. Hon. Lord INcRCAPE, G.C., G., K.C.SI, ECLE. (Chairman).
Rt. Hon. the Earl ofSALBORNE, K.G.,G.C.M.G.
Bir PRDERIOR Ezwry Bart.....!! Bir MONTACU CORNISH TURNER..
Sir DUNCAN, CARMICHAEL.
JAMES MACKENZIE, Eq. M. M. S. GunBAY, Esq., CST.
FRANCIS ALEXANDER JOHNSTON, Esq ALEXANDER KAMP WRIGHT, Esque WALTER ÜSEGEN GRATERBOOK, Eq. The Hon. ArAZANDER SHAW, MP, (Mänsing Director).
C.TE. (General Manager).
HEAD OFFICE:-122, Leadenhall Street, London, E.C.S. West London Branch:-14-16, Cookipar Street, London, S.W.1.
Eastern Branches: "
Bombay, Calautta, Karachi, Madera, Colombo, Singapore, Hongkong and Shanghai
The Corporation undertakes General Banking and Exchange Business of ver description and in addition to ita Branches has Agencies all over the world.
C. CHAMPKIN,
Dan Voux Road Central, Hongkong.
FOOK
WING & CO.
Manager
The Astor House Building, 13, Queen's Road Central, Hongkong.
"MANUFACTURERS
of
Swatow Drawu-thread-work and Canton Embroiderion.
Powter.
Dealers in all kinds of Ivory Ware, Pekin Cloisonne, Lacquer, Brass and Swalow Mandarin Costumes, Shawls, Scarfs, Laces and Ladies' Underwear & Special Fenture.
..Wholesale and Retail.
D
O O N N E
L
PRICES MODERATE.
DRUGS
INSPECTION INVITED.
[404
PRESCRIPTIONS
2
When the Doctor proscribes be expects the Druggist to fill the prescription with Pure Druga. The quality of our Drugs, Medicines and Toilet Goods is not surpassed.. Have the Doctor's Prescription filled here and the result will be satisfactory.
PLANTA
܂
THE PHARMACY,
YE OLDE PRINTERIE
LIMITED.
(SUCCESSORS TO PRINTING DETT, HONGKONG PRINTING FRESS) 19, WYNDHAM STREET.
BANK.
·CHAIRMAN'S REVIEW OF TRADE
CONDITIONS.
SOME IMPORTANT HONGKONG QUESTIONS.
THE BANK'S SUCCESS IN A YEAR OF CONTINUOUS UNCERTAINTIES.
to the present demadù, it is hoped that (the outlook for 1993 may repsonably be expected to show cohaldbrable improve jme-(Applause)
The cotted will industry in Shanghai continues to expand; there are now about 2 million native spindles in operation
INTIMATIONS
111
PEAK TRAMWAYS CO., LTD.
NOTICE.
compared with 1,800.000 in 1991 andRAFFIC on the PEAK TRAMWAY be SUSPENDED from 14.1, on 1,300,000 in 1820. Indian yarn has been WEDNESDAY, 91st INSTANT for a Period the principal sufferer by the growth of of Eight Days or thereabouts in order to carry this local enterprise. Sevoral-indeed, out certain repairs to the Haulage Machinery. most of the native mills have started Season Ticket Holders will have the option of with inadquate capital and it is feared gating their Tickets extended for the Whole that troubleus times are ahead of some Rate refund on such Tishots for the Unexpired Period cars conse running or obtaining & Pro Fot them
Parisd
1
IN JAPAN,
In the Philippines the wise and firm "administration of General Wood is re The annual general meeting of the There was a net decline of 3d. in Lon- ducing the. Suauices of the Islands to Hongkong and Shanghai Banking Cordon during the year which was entirely crder and has already brought the poration was held at the City Hall on due to the appreciation of the pound Philippine peso to its par value. The Saturday at noon. There were present sterling, the price of the metal in New high prices obtainable for products, of Mr. A. O. Lang (Chairman of the Court York at the beginning and the end of the Islands, particularly sugar, thanks of Directors), who presided, Mr. D. G. the year being almost exactly the same to the free market available for them in M. Bernard (Deputy Chairman), Mr. Burchases of domestic silver by the US the United States, should soon produce G. T. Edkins, Mr. HP White, Mr. W. Government under the Pitman Act have rondwed prosperity. P. Pattender, Hon. Mr. P. H Holyoak, proceeded steadily had should be fish Hon. Mr E V.D. Pirr. and Mr. H. A.
ed towards the end of this year. There is
In Japan the year's "imports show a Comptor. (Directors); Hon. Mr. AG much speculation as to what will happen Stephen (Chief Manager), and the follow when such an important quantity foresee of yen 245 million over those of ing Shareholders:-Messrs. Chau Tung silver has to be placed on the ppen mar inat year, but the increase in ox- Sang, Mrs. Bernard, F. B. Maçıb,
kot. Optimists believe that its appear Forts is greater, viz.: yen 342 million, G. B. Dunnett, R. Bruce, G. M. Dalgety, anus will coincide with the disappear of which you 200 million was contributed EM Crawford UI Ellis, Chan Ngaaance of the supplies from the various by raw silk and silk textiles, thanks to Ting, S. Michael, JR Kinghorn Leung Yan Po. 5. S. Morrison, C. Thorne, A. countries, which are reducing the fineness the brisk demand in America. for these or demonetising their silver coinnge, so articles, This proved a special boon, Denison, H. Hancock, G. Grimble, A. Murdoch, E. F. Aucott, P. C. Potts, E. that the situation will he balanced; otherwise the balance of trade, would J. Champan, C. E. H. Beavis. L. others think that the latter factor will have been much more unfavourabls. It There is might be assumed from these figures Dunbar," V. M. Grayburn, F. H. Penty- continue for some year yet.
were fourish- cross, Ho Wing, He Cheung Shiu, Chan no reliable data, available to enable us that trade and industry Siu Ki, Lo Cheung Wan, Lee Coon, Mak to form an opinion, so we shall keep an ing, but immense quantities of both and raw articles the Kon Sang, Tsoi Kung Po, Mok Man open mind on the subject, and no doubt manufactured Chee, Chan Shu Ming, Lo Man Hing. F. we shall all be wiser on this point when former produced at high cost-are still The Barrington Deacon, H. Birkett. F. R., J. we
this room next year loading the domestic market. Adama, F. Smyth, Capt. R Swain, P.
liquidation of these is still going on, re- sulting in
casas in failures, of K. Kwok, J. M. de Castro Basto, Ho Kom
meet in
(Laughter.)
SILVER ABSORBED BY" CHINA.
BOMO
JOHN D. HUMPHREYS & BON,
General Managers.. Hongkong, 15th February, 1993.
4!
HONGKONG HOTEL CO., LTD.
NOTICE.
www.ccm
[401
DURING the SUSPENSION of the PEAK TRAMWAY SERVICE MOTOR BUSSES WILL BE RUN between the Hongkong Hotel and the Peak Church, leaving either end at the following Times;
8 AM to 10 A., Every 20 Minutes.
10 A., to 6 PM.
6 P.M. to 8 PM.
80 90
8 PM, to Midnight,," SO
FAR30 Canta
■
409]
E. W. ALDERSON, Assistant General Manager, HONGKONG Horst Co., LTD.
HOUSES FOR SALE AT THE PEAK NEAR MOTOR ROAD..
Tong, Ho Fook, G. M. Young, W. E. L. The quantity of silver absorbed by Shenton, W. J. C. Bonnar, A. S Ellis, China was, as nearly as we can estimate, W. Anderson, W. E. Van Eps, Ho Leung, standard ounces 68,700,000. In 1921 it
JAPAN'S HOPES FOR THE FUTURE, D. V. Steavenson R. M. Dyer, Han. Mr.
was 6 millions and in 1922 ources
Owing to high cost of production, and H. F. Pollock, Mrs. Pollock, C. C. Boyd,
More than half of the im in some cases to inferior quality, the J. Alves, A. B. Stewart, R. H. B. 95,600,000. Hancock, C. W. Beswick. F. C. Hall, H. ported silver was used by the Canton markets captured by Japanese goods B. L, Dowbiggin, A. R. Lowe, D. Klint, which, it is estimated produced during the war have to a large extent Blair, W. L. Leask. F. S. Harrison, about $73,500,000 face value of 20 been lost. Competitive articles of the G. Barton, K W. Bird. M. S. Northcote, cent piecus. Those coins are 700 same nature offered by foreign manufao F. Pade V. Soures, Mrs. Cinul Stern, line and, following the well-known trees were better and cheaper, so, until FROM T. E Pearce, D. H. Cooper. G: B. Gresham law, they have drived into the the standard of production is increased, for Offices Layton, D. J. Lewis, N. C. Wilson, D: melting pot the formen Kwangtung coin-operating costs and prices lowered. Japan G. Weill D Templeton, Lee Coon age of higher intrinsic value, Their will not be able to meet her competitors Chun, Fung Targ, P S. Cassidy. H fineness was maintained at 700 but the on even terms in the oversea markets of Gerardet, P. V: Botelho, J. McArthur, more recent issues were clipped in weight the world. What is most urgently needed EL Sim and A. Piercy.
to the extent of about 2 per cent. Here at present is a development of the export
SALE, either together (anitable for which there may be more to come, and Mass), 1. separately, with early in depression in trade generally
posession, Nos. 2 and 3, STEWART TERRICH, PRIL
Apply to H. E. POLLOCK,
Prince's Building.
TO `LET.
NIG
March, First and Third Roora
DUPEREL STREET. Satobla Electric passanger lift. Apply. Mears GBB, LIVINGSTON & CO., LTD.
3)
TO LET.
[23
it may not be inappropriate to mention trade, the sille ved bryne bes it as OFFICES in UNION BUILDING-Four + few details about China's present sion of silk industry may be, it is as A manufacturing nation Japan must hope to thrive.
currency
*
\
IN THE STRAITS SETTLEMENTS.
on Fifth Floor,
Apply UNION INSURANCE SOCIETY OF CANTON, LTD.
$169.
TO LET.
we are able to present to you such a far and this carrency is largely displacing largely under the Influence general ICE and RESIDENCE with Servants
Com-
THE CHAIRMAN'S REVIEW.
The CHALEMAN, in moving the adoption
CHINA'S PRESENT GUBBENCY. of, the report and accounts, said:- Ladies and Gentlemen,-The report and The Mints which have been specially "In the Straits, conditions, although statement of accounts have been in your actise are those at Nanking, Hangehow still leaving much to be desired, are cor- THE RED BUILDING (OPPOSITE ICE HOUSE ST. hands for some time so, with your per and Cantom; the two former have been tainly brighter than they were a year mission, I will consider them as read. busy coining Yuan dollars-fairly satis ago The two principal products of the It is a great satisfaction to us that factory as regards weight and fineness, Peninsula-rubber and tin-which were ourable balance-sheet after a year of syces in the Northern trade. Of the world-wide depression, are now
Rubber restric continuous uncertainties and disorganisa Minta at Tiontein, Wachang, Yunnan, manding better prices. tion in all the exchange markote of the Chengta and Anhui, we have heard very tion has been a much debated subject, world, a year, too, in which profitable little during the year, they have prob and while efforts failed to get all pro- channels. for investment of gold funds ably been confining their operations to ducing-countries to arrive at a common have been difficult to find. The cheap the maufacture of copper coins of ever conclusion in favour thereof compulsory Less of money in London has been rodessering value. The most interesting restriction on an export basis, so far ag flected by a further rise in the price of one may say amusing-item of news was, Ceyloff and Malaya are concerned, came gilt-edged securities and by a substantial however, that the Anhui Mint had pro-into force in the closing months of last decline in the earnings of nearly all of duced large quantities of forgeries of the year (1st November) and, the price of the great London Banks.
Danton Mint's 20-cent pieces.-(Laugh the commodity has risen very substanti Fortunately we are not altogether de ter.) These were seized by the Mari- ally. Let us hope, however, that it may pendent on the same sources of income time Customs, which is now prohibiting not be long before "supply and demand as they are, though, of course, in view the circulation of debased coinage from adjust themselves on a satisfactory econo of our substantial gold assets, a Higher one port to the other a very salutary mie basis and artificial measures dis- rate of interest in London, which would measure. All these Mints are run for appear. The tin industry is regarded as be the result of more trade demand for profit by whoever happens to have secur healthy and, through reductions effected money, would suit us better than the ed control of them. The coinage is dein mining costs, mining on present value extremely, modest rates that were obtain based, in
and reduced is of the metal is again on a remunerative alle during 1922,
weight as opportunities present them level. solves. The profit is made in the period of the dag between the debasement of the coinage and the corresponding the past year, has again been one of deep disappointment; and the general decrease in the market values. The only condition of the country, so far from safeguard left is the sycee of Shanghai realising the fair expectations raised by The manufacture of this is under the
COMMERCIAL PRINTERS AND BOOKBINDERS. PRINTING AND ACCOUNT BOOK MAKING OF EVERY DESCRIPTION DONE WITH ACCURACY AND PROMPTNESS. ALL WORK DONE UNDER THE PERSONAL SUPERVISION OF THE MANAGER 'Phone 8787..
WATSON'S
No
10
ALL
agree that the
bes, is the cheapest.
V. C. LABRUM..
| Watson's | EVERYBODY | Watson's
ENDIO
dRotch Whi
Shinder
Y
agrees that Watsone Es
“Whisky preserving the finest. tata tråditions of
SCOTLAND'S BEST
SOLE AGENTE.
N10
Vilo Corch Bhut
James Milcomni Bundes
"PHILIPS
A PHILIPS LAMP
Is A PERMANENT
ECONOMY
SOLE AGENTS
Holland China Trading Co Hồng Kong
&
WHY TE
TAL. 636.
THE BANK'S TOTAL EARNINGS.
There has been a moderate revival of trade in the East and our operationis gon
fiteness
CHINA'S "POLITICAL HISTORY. The political history of China, during
The
in SHAMEEN.
Quarters and Kitchen on Good Lorality Apply AB, ofo Daily Pros.
TO LET
1318
Queen's Road Central. TWO OFFICE ROOMS, Top Floor, & Apply GANDE, PIICE & CO., LTD
2001
LET.
FJ
INFURNISHED, No. 1441, THE PEAK
near the Barker Road Tram Station-8 Rooms for 9 Months, 250 Per Month For particulars apply to
DENISON, RAM & GIBB-
[255
9th February, 1523.
PREPAID WANTED"
ADVERTISEMENTS
Bores."
erally have been fortunate, so our total earnings for the year were satisfactory, They amounted to $12,939,403.90, which
more than $8, mil-supervision of the Native Guilds and its Delegates at the Washington Confer-Letters are lying at this Office for
ence, has become steadily worse, is an increase of
has hitherto proved to be absolutely standing army is larger than ever, and ligns over the total, of 13211 We are therefore able to propose the same divi- liable. It is the touchstone cf the vari continues not only to be a crushing dend on the increased capital, viz.: £ous currencies that are manufactured by financial burden upon the country, but its
Becks POSITION Companion per share for the whole year, with £2 the Mints-their qucted prices in the mar ill-disciplined units have become a seri WANTED-Lady (German), Certificated, bonus, to add to silver reserve, $1 mil-ket are always based on Shanghai syo, ous menace to both foreign and Chinese or Governess as one of the Family, or as House lion. The carry forward, 33,331,788.58, and when debasement takes place the life and property everywhere, outside the keeper of Widower. Thoroughly domesticated
it. If protection of treaty ports. Bands of bright and cheerful disposition; Auent in is slightly more than we brought in at prices will ultimately reflect
sycce" ware to disappear, brigands, consisting of deserting or un- French and English (brought up in
anál leta Jens), Music, and Drena-maki ne the beginning of 1929. I hope you will Shanghai approve of these dispositions, which carry chaos would come, each Mint would via paid soldiery, maraud through the pro Please answer, giving fall particulars nad with the other in turning out debased vinces, burning, looting and kidnapping salary to N. NEUMANN, BRESLAD, Feste Eco- out what has been the policy, of your dollars and we might in course of time with impunity; while the whole country tante Portamt 2. (As German Postage in very Directors for many years past.
sse a coin that had is it more copper continues to be rent by ever-shifting poli-expensive, please enclose 3 International and foreign matter than silver. So, until tical dissensions and military intrigues. thera are seriously-administered "mints in China, it is absolutely essential to hold on to honest Shanghai syree.
BOME ENCOURAGING FEATURES, Turning to the other items of the balance sheet, we are confronted with the usual difficulty in making compari- sons with the previous year, owing to the rate of exchange being about 10 per cent,
Last. December.
TRADE CONDITIONS IN CHINA,
The Peking Government, central only in name, is a puppet in the hands of contending Tuchuns. The railways are over-run, their traffic disorganised and
Stamp-coupons for reply).
134.
Roomed EUROPEAN FLAT
their equipment damaged by hordes of WANTED. By End of July, & Three I will refer later on to political on disorderly troops. The revenues which Moderate Rental Hongkong or Kowloon higher, at the end of 1921 than it was ditions in China. It is gratifying that should go to maintain the railways and to Apply Bor'W.D., c/o Dally: Freas Office. [30
Several encouraging features may, however, he notiod: Our the collections of the Maritime Customs pay the service of the foreign loans caab and bullion is considerably lower have exceeded all records in spite of the secured on them, are appropriated at
very Barious obstacles to trade which their "source by the military Authorities.WANTED, STENOTYPIST for Brisi
ness Firm in Canton." Reply Fox and our bills discounted and loans aro
1n Hong Over-shadowing this chaotic condition of corsidorably higher than the previous were in evidence last year,
kong our industries are prospering affaire like a dark cloud is the load of WE, co Daily Prom Office year are our acceptances on account of constituents. All these are indications and values have risen to undreamt of unsecured, indebtedness, foreign and in- Our silver heights owing to the steady influx of ternal; na indebtedness with which the of more activity in trade.
Works, EUROPEAN CLERK with deposits have shown a normal expansion, Chinese from the neighbouring provinces Peking Government, in its present cir-WANTED for Large
cumstances, has shown itself entirely un- while on the other hand, our holdings and to a situation to which I shall pre-able to deal with unaided but which knowledge of Stock Accounts. Apply Ter
Unfortunately brigandage of British Government treasury bille sently refer.
tion of the country, would, if properly show a substantial decrease. I hope it and piracy continue to prevail in the measured by the area, wealth and popula WF, cle Daily Prax Office, will not be long before we are relieved of neighbouring provinces of Kwangtung consolidated, entitle China to be placed
(31
Engineering
ANTED—An Experienced Architectural
the necessity of using that melbod of and Kwangsi, hampering the free move almost at the head of the solvent na DRAUGHTSMAN. Apply stating
ment of importe and exports. Our er tions of the world. employing our funds.
All Josses made or, ascertained during ternal trade is suffering greatly in con- the year Have been fully provided for sequence, oat of current profits, and the margin be tween the market value of our gold securities and the prices at which they stand in our booka has materially in pressed in the same period.
THE BILYER MARKET.
c
So long as present conditions persint, qualifications to Box WB, co Daily Press
(24 however, and until the people of China Business in the North, though greatly show their determination to insist upon hampered by unsettled conditions in the effective measures. being taken by the OR SALE-Vacant possession, Bowen great Northern provinces, was not alto Government for the disbandment of Road Level, TWO SEMI-DETACHED gother without encouraging features troops, the consolidation of the unsecured HOUSES, with Large Grass Tennis Court, There was a fair demand in the markets debt, and the unification of the country, trial tres 20,000 sqft Lech house datin of the world for China's varied products Tery attempt to assist her from outside Ing Dining Room, Drawing Boom, Two and the situation of importe in the must be regarded as futile. The Consor Bedrooms, Two Bathrooms, Boaroan Pantry heilver market, in which we are all Northern port is quito health Statis tium, which was formed to give such sad usual Offen. Could be coonpied as i ond
Office. so much interested, did not present any time of China's foreign trade are not yet sistance, must continue to stand by, a house. Apply Box W.G., 0/6 Daily Fr.
patient and passive spectator of evente, very startling features during the year. dvailable, but there must have been No financial assistance which would serve *** The range of prices in London was only moderate all-round increase. It is hoped the real interests of China while at 7d., the highest point being 37 and the the close of 1922 Lisa Been the
the same time securing protection of lowest 3011. The variations in the actual liquidation of most of the old stocks in bondholders, is possible in existing cir- gold values were leas, the highest price the Far East, and with those markets ( "cumstances, in New York 741 and the lowest 13. Bönm again taking fresh, goods suitable
(Continued on page: 8.)
from
BET PRICED. OFFICE ME, Kompellant Location, To Lar ERENATIONAL TRADE – DIVELOPER,
LAD, kt. thé How Quarters opponis. Kang- BOWARD HOTEL, aboys Buenas & Hovan, (28
!