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AUCTIONS
PUBLIC AUCTION. »
from FAVOURED with instructions
MOSHTA NIKKO & Co. (owing to removal New Premises), Mr. DA ROCHA, Auctioneer, will well by Public Auction, on
FRIDAY, SATURDAY & MONDAY.
24th and 26th FEBRUARY, commenc ing each day at 11 am to 12.30 and to be continued from 2.30 p.m. at their shop, No. 15 to 17, Queen's
Road Central (below Hongkong Hotel).
THE HONGKONG DAILY PRESS, MONDAY, FEBRUAKY 261, 1923.
HONGKONG & SHANGHAI BANK.
(Continued from page (2)
ทุก
af World depression, the Bank has pro WONOMIC CONDITIONS. IN EUROPE The economic conditions of Europe gressed under his able direction and its continue to give rise to grav misgivings. position to-day is stronger than ever.
and Very little progress is, being made to- (Applause.) Amid the troublew wards a settlement of the multitude of disasters throughout the Warid, the imen everywhere havd TWO BRIGHT SPOTS IN A GLOOMY PICTUas complicated International questions. It is disorganisation and uncertainties of
There are two bright spots in this very gratifying, however, that arrange exchanges, our otherwise gloomy picture. The first is ments have been concluded for funding risen to the cerasion and have created a that the Maritima Customs collection for the British debt to America on mutually faith in the Bank of the utmost value to terms, thus removing a trade and British prestige in the East- 1092 has beater all previous records, thus satisfactory showing once more a vitailty of trade Fruitful source of friction and recrimina (Applause.) We are indeed fortunate in which seems to be, proof against all the tion between the two countries and setting possessing a staff second to none in forces of anarchy ud misgovernment. an example for the rest of our allies to loyalty and devotion to the interests ef No doubt the business has changed in follow. (applanse). But it has not yet their employers-(applause) and I
determine the confident that as senior" men retire their character, and much of it that formerly been found possible to passed through the hands of foreigners amount of German, reparations, which is places will in taken by men of equal the calibre and the bank will continue to be is now transacted by the Chinese theu-an indispensable preliminary to selves. But as to the steady increase in flotation of the International Guaranteed a tower of strength to Eastern trade and sure you will agres the general volume of foreign trade the Loan required to enable not only Ger enterprise in the future as it has been in decision of your Customs figures. leave no room for doubt, many but France also to arrest the de-the past. I ani
Proot of the growing commercial preciation of her currency and to balance heartily with the
It is matter that cannot Directors to award the Staff a bonus of activity of the higher classes of Chinese, her budget. who are sick of the precarious fortunes be postponed indefinitely, and the longer 10 per cent. on their salaries.(Loud of an official career, is to be seen in the a settlement is delayed the more difficult applause.)
Central Europe, the effects of which mero mills and factories which are it will be to avoid a great disaster to springing up throughout the country.
The other encouraging feature to would be very far reaching. and Tea Sets, Lacquer sonne Vase, Bowes Bowls, Valuable which I refer, is the increasing interest Warra, Silk Kimonos, Flowe Curio Cabinets, Fire Screens, Leather Purses taken in politics and the affairs of the am! Pocket Becks, Embroidered Table Covers, Government by the Chinese Chambers of Commerce, and their marked determina and a long line of Sundries. Catalogues will be issued.
A LARGE PORTION OF THEIR STOCK OF OLD JAPANESE AND CHINESE" ART CURIOS.
Werth about $49,600,00 Comprising:-- Satsuma, Kutani and Imari Porcelains, Satsuma: Vases, Bowls, and Incense Burners, Bronze Ornaments and Figures, Brass Wares, Embroideries, Framos Damascene and Wall Hangings, Valuable Screens, do
Term-Cash on delivery,
0.
A. G. DA ROCHA. "
R
PUBLIC AUCTION.
[415
THE Undersigned have received instructions
sell by Public Auction,
uo"
tion
FINANCIAL SITUATION AT HOME In England the situation has improved considerably, we are meeting our ing-(Applause.)
MR. DUNBAR SECONDS THE MOTION,
Mr. L. Dusan in seconding the adoption ex of the report and balance sheet said:- adoption of the report and accounts. I
旷
MARTELL'S
BRANDIES.
ONE STAR
TWO STAR
to make their voices heard.penditure by taxation and not by borrow. It is a great pleasure to me to second the THREE STAR
(Applause). We hardly take up s paper without reading reports of resolutions urging disbandment of troops, or to demning the extortions of the Tachung and the extravagance of the Government. So long as he can trade peacefully, the Chinese merchant takes little interest in politics or changes of Government. When, however, as would now seem, he realises that the country, and with it his own prospects of increased profitable trading, are in danger of being brought to ruin by the folly of his rulers, he is moved to utter a protest, for the expression of which the facilities of the modern Chinese press offer him a channel not formerly available, It is this great body of Chinese commerical opinion and vested interests: aided by modern facilities for publicity, which will I believe prove to
ANTI-URITISH., PROPAGANDA
I
The premium ca gold has been reduced think it is very gratifying thes from twenty-five to eight per cent and troublous and uncertain times that the the New York exchange to within lest Bank is able to present such a favour- that twenty cents of pre-war parity.able report, the profits for the year ex In this matter it is the last stop which ceeding all previous records. Of recent! counts and it is welk not to be tag years many new competitors have ap sanguine of an early return to the old peared in the Eastern barking field but was competition, its reports for many years gold standard upon which British pre the Hongkong Bank appears to thrive a con past showing a steadily increasing or are entitled to dominance in international trade built up, but we template with satisfaction the advance pansion of figures in every direction. I already made towards its ultimate agree with the Chairman in describing it realisation.
僖
Wo
location
Br
MARTELL & COMPANY.
SOLE AGENTS
S. O. P.
BRANDY
ANDE, PRICE & CO., LTD
WINE & SPIRIT MERCHANTS,
8, QUEEN'S ROAD CENTRAL,
HONGKONG. Tel. 0. No. 135.
as a tower of strength to trade and BOTTLED IN COGNAC AND GUARANTEED PURE GRAPE PRICES LOWER IN GREAT BRITAIN THAN IN enterprise and to British prestige in the East. I am glad the Chairman touched AMERICA.
on the question of military landa. International trade is based upon come the Colony expanding in every dire TUESDAY, WEDNESDAY & THURSDAY
parative cost. Prices are now relatively tion, building going on everywhere and the 6th, 7th and 8th MARCH, 1923. at H.M.
lower in Great Britain than in Americs. the rents in the central district rising to This is, no doubt, the fundamental cause a height that is a serious handicap to Naval Yarl, Hongkong, and at Kowloon
merchants. And yet the military cen be the force of the immediate future. Naval, Depot, comacacing each day
hope it will, by its insistence, secure the of the improvement in the sterling ex at 6.30 am. with an interval from 12 Noon to 1.30 pm.
reforms which it is our earnest desire change. It has also the effect, by atimtinue to occupy the location they have OLD AND SURPLUS YAVAL STORES,
to see, and which, although they may beating our exports and discouraging our held for the last 80 years,
he urged imports," of making England a better which although eminently unsuitable for 11 &c..
assisted from without, muat
country to buy in than to sell in. The the troops, would be of the utmost valus Comprising
Inst available trade returps show that to the business community. Let us hope Life Boats, Dingien, Whalers, Dars, Celle and and created from within.(Applause.)
for the eleven months ended November the War Office will wake up one day Electrical Fittings, Electric Cable, Cooking,
the unfavourable trade balance and discover that Hongkong has changed In the foregoing remarks I have only 22, Stoves, Ships Fittings, Irca Bels, Mattresses
to the Con- that is the excess of imports, has been somewhat since the military, took up and Fiitis, Life Rafts, Life Belts, Carpets, made a passing, reference
I am sure we all Ruge, Mats Table Covers, Blankets, Canvas, sortium; but I would like to take this reduced by over £100 millions-(AP their present quarters, when the island
for difference in Allowing
was first occupied. Leather and Metallic Hoses, Old Candage, opportunity of speaking more particularly plause). Canvas Haus, hi India Rubber, Old Leather on a question which concerns both the prices it is now within measurable disjoin the Chairmati in his tribute to the Old Woollen Bags, Old Asbestos.
policy of the Consortium and the future ice of the visible excess of imports Staff. The Bank is indeed fortunate in Old Iron Steel, Old Brass,
before the war. It may fairly he said
business cateora in the Bank and mean and Dan Metal, Coal Sacks, Wood and dun interests of this Colony. Metal Blocks Lamps, Gauge Steel Tubes,
Allegations have been made in a res that trade appears to have turned the possessing a staff of men who began their Steel Wire Rope Of Chain Cable Drilling possible American quarter, and urged corner, and, assisted by returns from tad to end them in the same service. and Grinding Machines Pinnace and Cutter with an insistence which would seem to millions of anxings inrested during number of thein who have served for over Engiacs. Table Chairs, Stools, Binnacles, give them the character of a deliberate the year in foreign and colonia, loans, a Woolen Cases, Fold on Javatories, Old Pack | agreement with the British caists whereby merce are not choked at their source strength and stability. I think you will Compasses, Clocks, Davits, fron Drums, anti-British propaganda, that a treaty or likely to improve if the springs of con- twenty years in the East is a source of ing Cases, &c.
the Chinese may be debarred from creat-The capacity and rescurce of the British all heartily support the Directors in ing railway facilities necessary for the merchant left to himself may safely be voting the staff a bonus of 10 per cent, on "QUANTITY <
STRUCTURAL | development of a deep water port for trusted to discover new channels of bus their salaries.Applause) I now heg STEELWORK, comprising Stanchions, Boning,
the freight of credit and
were no questions, and the Struts, Gutters, &c, and uniry other Steel. ocean-going vessels at or near Cantonness and to launch again on the tide of to second the adoption of the report and
and that, although such development immerce work, anda large quantity of Fire Bar Irea,
carried paanimously. Lote may be inspected on MONDAY, the 5th would be the natural accompaniment of confidence on which our international adoption of the report and accounts was
any scheme for the completion of railway trade depends. MARCH,
19:3 Also, ane OLD AND SURPLUS VIC.communication from Hankow to Canton, it is the fixed policy of the British to TUALLING STORES at Kowloor on
9th omniprising:-
(
A
ALSO
Ok
FRIDAY, Airinity or Pig Food, ilmnants of Serge, Flannel, & Bed- ding. Clething. Mess Gear, including Electro
Plate
THE SIAMESE LOAN.
accounts.
There
The
ELECTION OF DIRECTORS, Erc Early last year we issued a Loan for oppose it, ns being detrimental to the 200,000 on lehalf of the Royal Siamese
On the motion of Mr. G. M. YOUNG, tu state categorically that no such treaty Government. This Loan was well re or, agreement exists. Article 15 of the rived, being applied for many times seconded by Mr. M. S. NOTHCOTE, thei Canton-Kowloon railway Loan Agree over, and at present stands at about appointment of Mr. A. Bowen-Smith a ment contains an undertaking, usual in per cent. premium which is an indication a Directer was confirmed and Mr. W. L By Appointment Auction.com to the railway agreements where the ling consti- of the high credit of the Royal Siamese Pittenden, Mr. G. M. Dodwell and fr tutes the security for the loan, that the Government in the London marketD. G. M. Bernard were re-elected Direc
allow (Applause.) Chinese Government will not another line to be built competing with that railway to its detriment: but this
Terms of Sale As detailed in Catalogue.
HUGHES & HOUGH,
Admiralty,
[424
Hongkong, 20th February, 1923.
of..
PARTICULARS
LEASEHOLD PROPERTY
Bitaste
No. 13, WING HING STREET, VICTORIA, HONGKONG,
Tote Sold by Order of the Mortgages
J
By
PUBLIC AUCTION,
IN ONE LOT
Од MONDAY,
*The 1tru Day of Max, 1993, at 3 o'clock P.M.
BT
Mrs. LAMMERT BROTHERS
AT THEIR OFFIOR, DUDDELL STREET.
HE Property consists of First ALL THE
THAT piece or parcel of ground situate
4
of
trade
THE BALT REVENUES.
THE MILITARY LANDS QUESTION IN HONGKONG,
halter
tors.
We Manufacture, Export and Retail:-
Swatow Drawn and Thread Works, All Kinds of Embroideries,
EF
Hand-made Lace, etc.
[28%
Latest Designs.
Good Qualities.
Reasonable Pricas. ~
SWATOW DRAWN WORK CO.,
16, Des Vœux Road Central
P. O. Box 445,
by Mr. ABSOUTH
On the proposition of Mr. W. E. L. SHENTON, seconded STEWART, Mr. A. R. Lowe and Mr. E. J. Chapman were re-elected auditors for the ensuing sear.
The CHAIRMAN thanked "those present for their attendance, and announced that dividend warrants would be ready on Monday.
Mr. C. W. Beswick rose as the share-
Telephone No. 2860.
MANCHURIA RAILWAY
OPERATING ALL LINEs, in South ManchubIA AND CROSEN (KOREA) EAST OF MUKDAN.
SUMMER HOLIDAY
RESORTS
ABOU
SOUTH MANCHURIA AND CHOSEN,
from Dairen, bat connected with the city by special motor and carriage road and electrio tramway. Yamata Hotel (35 rooms) and 12 furnished bungalows in charming cliff garden. Bathing, Boating, Fishing, Golf, Tennis, Billards, Orchestia twice a week. Capital place for children. BOSHIGAURA, Finest Seaside Summer Holiday Resort in North China. Five miles
Most beautiful and select Seaside Resort in the Far East. Two miles from Port Formerly the Summer Resort of the high Russian officers and officials. Yauzate "Hotel and 20 villas and bungalows, mostly with detached servants quarters. Excellent OGONDAI
Wonderful Boanery, Historic Battlefields, Buined and Dismantled Forts Miles fo Walks and Drives, "Abundant Pirnicing Facilitics. Orchestra twice a week.
facilirs high-class Best place for BT ARTHUR.-Famous for its by memorable Hieges and its beautiful landlocked
[purposes. And yet the Military establish the same time standing by their constitu- PORT, APRIkly onso hour's journey Dairen by express train. Yamato Hotel (16 rooms)-
Harbour.
Safficient place of historical and scenic interest to fill a month with fresh walk or drive every day. Most healthy and salubrious spot in the Far East. firaling Switzerland for climate and scenery. Beautiful peaks and charming daanden. Grand recuperative gasiftiss Kongoma Hotel (10 rooms) at Oneiri and Chonji Hotel KONGOSAN. The famous Diamond Moutain of Kores. A spesial Sumrat Rework
(11 rooms) at Chorari
clearly refers to competing parallel lines, There is an important local and could not possibly be held to pre-which I feel you will expect me to refer clude the Chinese Government from constructing whatever terminal facilities to and that is the question of the Military Jands. Early in my speech I they chose for the long-projected Hankow-mentioned that land values had risen to Canton Railway. Whether river improve-
ent and the construction of a deep-dreamt-of heights owing to the steady water harbour at Canton are practicable influx of Chinese from the zeighbouring
Before you all go, I should like to ask or not as an expenditure which would provinces and to one other reason, which be justified by the advantages to be will now proceed to explain. The area holders were about to disperse and said: gained is a question for experts to decide: in this island available for Commercial 1 am told that they are not. However, purposes is, as you well know, strictly you to join with one in expressing to the dividend presented here to-day.-(Ap this may be, I am persuaded that no limited-it has been added to from time Directors, Management and Staff our at to time by laborious and expensive re appreciation of the excellent report and facilities development Canton can, in the long run.be detriment- lantions from bocamation is now in plause.) We all know that last year has al to this Colony, and our Chinese friends and extensive reclamation may be assured that British polley in this progress. As this is the case it must be been an extremely difficult one in various successfully through these difficulties, at matter is bounded by no such narrow, self evident that the heat use should be ways for all those engaged in business, it.made of the space available for business but the management has steered the Bank outlook as That attributed to
ents. I should like especially to express our (Applause.)
ments continue to occupy a large tract
He is a man of the best ecmmercial land in the Colony, thanks to Mr. Stephen. The report of the Maritime Customs dividing the Western from the Eastern eminently fitted to follow his illustrions at Victoria in the Colmy of Hongkong and
in the Land Office us SECTION revenue collection for the year 1922 has districts. hampering free communications predecessor. It is quite true that we regisAND
TOT No. 2150 together with already appeared in the newspapers, and and the natural development of the busi- don't always get our own way with him, area. It is well known that our but none-the-lens he is always ready or buildings thereon I will not take up your time by repeating ress now known as No. 10, Wing Hing Street and the figures here. The total net collection Government has been for years past with kindly advice in difficulties and
All under the direct margement of the SOUTH MANCHUKIA BAILWAY 00. Secondly
ALL THAT strip of land at the rear was Hk. Tls. 58,600,000 this, as already making efforts to remove this anomaly always ready to lend support to any rea
Illustrated Bookies and all Information pori fron on requork. of the said Section A of Inland Lot No. 2166 stated, beats all previous records, being There are plenty of better sites, belong sonable enterprise. Regarding the staff, being a scavenging lane.. All, of which pre Tls. 4,100,000 in excess of the collectioning to the Colonial Government, avail. I can scarcely add anything to what Mr.
Appilostions may be sent to the Hotel Managers so the various resorts or bo
THE SUPERINTENDENT OF HOTELS Tradio Department, mises are beld for the residue of the term of of 1921, itself a record year. The total able where the troops could enjoy more Lang, and Mr. Dunbar have said, except
SOUTH MANCHURIA BAILWAY, Dairen. 75 years from the ith day of May, 1916, salt revenue paid into the Group Banke, healthy and spacious surroundings, but that it is on the loyal devotion of the
Cable: Add. Manbertan. We, of the created by the Crown Lease theroof together after deducting administrative expenses no settlement has yet been arrived at staff to duty that the success of the
Godbe: A.B.Q. Ed., & Liebers, with the valuable machinery now situato in
was $85,833,000 which is an increase of I believe this is not due to lack of effort Bank very largely resta. or upon the said premises, and at No. 1 35,000,000 as compared with the previous on the part of the Hongkong Government British community are very proud of for. to obstruction by the local Military the Bank and of the high standing it has Gordon Street.
Particulars and Conditions of sale may be best record of 1919, and an increase of
$7,600,000 on the revenue, realised in Authorities, who must be well aware that among the leading financial institutiona obtained from
1921. Retentions by various local author the present cramped situation of the of the world. I think you will join with ties: amounted to $31,808,000-an increase garrison is detrimental to the health and me in thanking the staff for their services.
There is no of $13,000,000 as compared with the efficiency of the troops. amount retained in 1921. In addition to question of military strategy involved, the retentions made in former years in yet the obstruction to the change comes the provinces of Kwangtung Szechuan from the War Office alone. I think it is Yunnan and Hunan, revenue was retained time that the War Office. realised that during 1922 in the provinces of Shanai, Hongkong does not exist solely in order Hupeh, Kiangai and Manchuria, while in to pay a military contribution of per the case of Fukien no revenue has been cent. of its revenue, and that if this paid into the Group Banks during the senseless policy of obstruction ang ham last months of the year owing to local pering of British trade and the natural military action. On the other hand, development of the Colony in persisted gratifying increase of revendo was obtain in, it will become a question of whether ed during the year 1922 in the majority the contribution can be justified any
12877
Mess. HASTINGS & HASTINGS,
Bolicitore,
and
8, Dee Vinux Bond Central, Maser LAMMERT BROTHERS Auctioneers.
WONG SIU-WOON
BOOTS. SHOES & SLIPPERS FOR LADIES, GENTS. & CHILDEEN
BEST DEES, PRICES MODERATE, -F 21, POTTINGER ST:
PHONE: 147
of the districts in which the control of longer. (Hear, hear), the Chief Inspectors has not been inter- fered with.
A TRIBUTE TO THE STAFE.
I cannot conclude without a word of The actual amount released for the
In the Hon. general purposes of the Chinese Gover-commendation to the staff. ment during the year amounted to Mr. AG. Stephen, our Chief Manager, $47,237,000 as compared with $52,060,000 we have a man whose knowledge of
business and finance is unparalleled, in 1091:
The Reserve in the Group Banks, to (Applause) and whose services to the provide for the Service of the Reorgani Empire and its Eastern connections is estion Loan, was maintained during the well-known to all of you. (Applause.) During the past two years, in a period year at $7,000,000,"
(Applause.)
The CHAIRMAN: Thank you, Mr. Bes wick.
The meeting then concluded.
When in doubt abo it your ey
your glass20
Consult
CHINESE OPTICAL CD.
Eye-sight Bpsol lists,
67 QUEEN'S ROAD
(Hanckons.
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