THORNYCROFT
¡AND CO., LTD.
SHIPBUILDERS AND FNGINFERE
THE HONGKONG DAILY PRESS, FRIDAY, JUNE 298, 1923
London, Southampton and Basingstoke PASSENOFF AND CARGO VESSELS OF ALI.TYPES UP TO 6,000 TONS, OCEAN-GOING TUGS, MOTOR BOATS (SEA OR RIVER)
UP TO 50 KNOTS.
TURFINFS AND RECIFI OCATING MACHINERY AND PROPEI LEBE
MARINE AND STATIONARY OIL ENGINES 8 TO 90 BHF.
MOTOR VEHICLES 2 TO-6-TONS.
WATER-TUBE BOILERS.
FOR QUOTATION, AFFLI-
ROBERT DOLLAR” BUILDING,
SHANGHAI.
Summit Collars
For Discerning Men.
FINE QUALITY-LONG. WEARING-PERFECT FITTING
IN EVERY WAY SATISFACTORY. ·
NEW STOCK JUST RFCLIVED. ALL SHAPES $7 00 PER DOZEN.
MACKINTOSH
& CO. LTD.
Men's Wear Specialists.
Alexandra Building.
Des Vœux Road.
SPECIAL SALE
AT:
SINCERE'S.
NEW MILLINERY
AT
WHITEAWAY'S
EXCLUSIVE MODELS in SMART READY-TO-WEAR HATS and SHAPES
ELEGANT BUT INEXPENSIVE
NEW READY-TO-WEAR DRESSES
NEW RIBBONS
NEW SUNSBA DES
NEW SPONGE CLOTH AND RATINGS
WHITEAWAY, LAIDLAW & CO., LTD.
HONGKONG
OPENING OF NEW H. & S. BANK
AT SHANGHAI.
A STIRRING SPEECH BY SIR RONALD MACLEAY,
GOOD ADVICE FOR CHINA: COUNTRY MUST ABANDON ATTITUDE OF SUSPICION.
ment
And what of the men who conceived international fuce together, with his the grand idea! And what of those who clarity of Vision- and suavity of "mannaTS, by their brains, their industry, their marked him out from the first as the courage, and their loyalty to the great person indicated, to preside over the corporation which they werved, huilt up mootings at the Tuternational groups to from small beginnings over half a century bring the various views into farmony and ago these grant reserves, af prosperity orally to guile the policy of the Can sortium Sir Charles" brilliant, qua-ties which have made ita realization possible have won for him the signal distiretian ånd have given to the International Settler | of election to membership of the guvern- at Shanghai a bailling which. Ting aboard of the Bank of England, and I believe, in the nobility of its dimasions. an'sure that the Hongkong müd Shanghai the "bounty of its decorations, the Banking Corporation justly feel that some metry of its proportiona and `e`sganes of the hour thereby conferred on their In marked contrast to the imposing, the darkest moment comes before the of its appointment, is unsurpassed by any Load Manager is reflected upon them... structure which probably right'y has been, and support ourselves with the financial or commercial house in Asia and selves. Perhaps you will say that out caked the biggest and grandest com- hope, not only that China has now filled the Far East from Suez to, the Behring here in China we have not heard 'much mercial house in the Far East, and the cup of her folly to the brim, but that Sex Mach has been written and said lately of the Consortiuni. Well, that is possibly is not excelled by any foreign the foreign: Powers have awakened at of these men, the founders, the directors true, but 1 hasten to assure you that building other than the various Govern fast from theirf dream of a self-regenerat.and the managers of the institution—tly because it apparently has been inactive it ment houses in India (ays, the Cod China. The doctring that China must servants, as they would wish to be called, has by no means passed out of existence, Daily News of June 23rd.) the opening work out her own salvation has been trid of the Hongkong and Shanghai Baking It is very much alive, as your Router simony at the new Hongkong and a found wanting; it is not only derid. Corporation and pioneers in that they telegrams from Paris-if you read them→ Shanghai Bank on The Bund on Saturday by st Intelligent Chinese, but has created the first indigenous foreign bank recently reminded you, and it is ready was of a very simple order. Indeed, it been abandoned by early, all thinking in China operating with its capital and and willing to help the Chinese Govern
foreigners." would have been well nigh hopeless to
reserves on the silver currency of the coun- ment to find a way out of the hop leg have attempted anything greater, for the
try. Their names, like "Way foong itself, financial dithenities in which it has. stk. vast crowd that gathered to view the new
We have very reluctantly come to the are household words in China, I can involved, by an exhaustive exauation of Chin's sets and, liabilities with a promises defied management even by the capetesion that the time has come to give but touch on a few of them now-raise my large force of police my duty; Admission foreign. intereference & trial, not in any hat, as it were, to them in a brief saluta was to be by ticket only according to pre-aggressive spirit, but with the firm and and pass on, Among the earliest founder, feasible scheme for the funding of ber vicus, amenagements, but a hundred ticket friendly
Save thore names like Jardine, Matheson, the inspectors would have been notessary to country from the chaptic condition to Dents and Sassoons. American-aryl Ger- check the visitors. They passed through which military misgovernment and poli- man firms as well as Parser merchants the great gate in columns a "dozon deeptical demoralization hare brought it, and were associated in raising the original
FOREIGN STERVENTIONS.
determination to
f view to the elaboration, if pos-ible, of u
unsccured debts
THE CHINESE SUSPICION. But if the Chinese Governmit really... wishes for this advice and hopes for
in an unending stream for quite half and to secure, again for, foreign trade and modest expital of two million five hundro! further financial assistance from the four power group it must abandon its actitudo hour and
of suspicion toward the Cousortium, nåd even then, sa vast is the residents, the protection and immunity to thousand Mexican dollars. It stands at
must realize that no loans or advances central hal, there was still room to walk which they are entitled by Treaty. Our over twenty million silver to-day, ground. So there was a never ending Government is indeed faced with a grave If the bank, like a wise child; was fortus will be forthomining from that soured shuffle of feet and a buzz of conversation responsibility, and the immense interests nate in the choice of its parents, the diree except under conditions of strict control that made the speeches inaudib'e except at stake demand that they must so their tors have been happier still in the ace both over the security and the expendi for a sentence here and there alat may ask through: but I am persuaded that tion of their chief managers. Among tur, in order that, on the one hand, thơ have been heard by the few immediately firm insistence by them on essential re- these, four names stand out. Sir Owen interests of the bond holders may be safe beneath the dais.
forms, hacked, if absolutely necessary, Cameron, Sir Thomas Jackson, Sir Newton guarded, and on the other, that the Shortly for phon, traffe along the by an unequivocal demonstration of force, Stabb auch, et hut not least, that of our money really will be spent for the benefit Buud between Fohow and Caut Roads will not only speedily react in the resto distinguished host to-day, Mr. A. G. of China and for the eficient working was stoppel, a half circle of Special!
ration of order and security, but will be Stephen, under whose spirited leadership of the administrative machine and not UNNECESSA PY" troops-troops Constables was drawn up in front of the welcomed by the masses of China who are and wise guidance the Shanghai branch of frittered away on the maintenance of main entrance to the Bank and guards of honcur of Sikh and Chinese Polic. were suffering, no less than ourselves, from the the bank was able to stor an even course warns of mounted. There were then very few long continued misgovernment and law through the sterms of four years of war, which are" pot" needed for the defence of
lessness of their country. I repeat my
and after passing safely between the Scylla the country against exterial fock fur people at the Bank beyond those more" intimately concerned with the occasion,, conviction that these deplorable condi. of inflation and the Charybdis of depress China has no such enemies, and are not amongst those on the steps,, for the first ditions can be remedied by the Powers sign to emerge triumphant with all saila employed to keep order or to suppress. part of the ceremony being Mr. A, whose commercial interests are so deeply set in the smooth waters of prosperity. banilitry, but are merely used to fight It must be an immense satisfaction to one another to travel about on the Stephen (chief manager), Mr. G. H.
him to-day to see the realization of his railways without paying their fares. IN Stitt (Shanghai manager), Mr. Sidney
A suggestion has been made to us by dream and to witness the ceremonial Cat leave the subject of the Con
sortin without mentioning another uld. Barton, C.M.G. (H. 3. Consul Genera), one of the most important and enlighten-nauguration of this magnificent building, and trusted servant of the Hengkung nud, Sir Skinner Turner, Judgo Peter Grain, ed of the Chinese partics. It is that our surely the most fitting and lasting Shanghai Bank, Mr. Guy Hillier who. Mr. H. H. Fox, OMG., Admiral Sir Govorniments would best serve the in-morial to his association with Shanghai
concerned in the rehabilitation of Chin
Arthur Leveson, K.C.B.. General Hterests of Chinn if they insisted on the and to his management of the bank. Waebrubines the pest of Agent of the Branch, Fengding. Mr. Hou Yuan, Capt. Wo contending parties meeting in conference offer him our enthusiastic compliments in Peking with that of Chief Representa». U.S.N., Mr. A. Brooke Smith, Col. Muntil their various claims are reconciled and our heartiest congratulations.
Sir
in the Ceutral Hall and after some in-may lead to a settlement, effectual attempts to obtain silence, and to the accompaniment of the operations of
Itive of the British Group in China. Mr.
host of friends. He has a trusty grand and a stalwart co-adjutor Mr. R. CL Allen.
H. Logan, Mr. G. L. Wilson, Mr. A-0.and & Government acceptable to the whole should like to extend those congratula. Hillier's skill in handling the intricate Lang Sir Wm. Rees Davies, Lady of China firmly established with foreign tions to Mr. Stitt and to all the foreign problems of the Group's relations with Macleay, Lady Leroson, Mrs. Stephen and assistance, financial and administrative, and native members of the bank staff. It the Chinese. Government, his remarkable: Mr Stitt, These were later joined where necessary. I think most of these is not, I think, necessary for me to speak, proficiency in the language and knowledga the dais by most of the Consula nad
parties would be only too willing to accept even if 1 were competent to do so, of the of the Chiasso make him an idea! adviser other prominent people.
this solution. As for the others who may principal functions of this great bank in in such matters for H. M. Representative. THE OPENING CEREMONY.
wonderful serenity and fortitudo with think their interests are best served by developing foreign trade and furthering Peking; and his gentle nature and the. one of the saddest of Punctunily at noon,
which he cadures Ronald the continuance of the present intolerable the commerce and industry, not only of Macleay, K.C.M.G., H. M. Minister. condition of affairs, there are various Great Britain and the Dominions, but of drove up in a moter-car and without any ways of applying pressure to bring them China herself. You must áll. have had nature's disabilties have won for him the.. ceremony or speeches, was handed key to a reasonable frame of mind. I com- personal experience of the great service affectionato esteem and admiration of a with which be opened the central gates,mend this suggestion to the representa which Wayfoong renders every day to the being immediately followed in by a tretives of the Powers who are doubtless importer and the exporter, to the mer- I would
THE BANK'S ASSISTENCE OF RAILWAY mendous crowd. The Minister and special anxious to explore every avenue that chant and the manufacturer.
ENTERPRISE rather dwell for a moment on some other guests were given seats on a raised duis
form of the Hongkong and Shanghai
There remains another phase of ther Banking Corporation's activities which
Hongkong and Shanghai Banking Corpor though perhaps not so widely known, are yet of the greatest importance in bring ation activities which should not be over ing Great Britain and China into edericoked on account of its immense value to touch and in strengthening the political, China. I refer to their participation in conomic and financial ties which unite the building of railways. These activities have been exercised chiefly in association with Messrs. Jardine, Matheson & Co., ABSISTANCE TO CHINA the two countries,
In the place I would remind you an alliance which led to the formation Your Excellency, on behalf of the Directors of this Bank, and of our friends that the Hongkong and Shanghai Bank of the British and China Corporat on assembled lun, I beg to express to young Corporation have made it a cardinal with the result that British interests have been concerned in the financing and point of their policy to assist our deep appreciation of the bonour you Chinese Government by a sumber of construction of over 800 miles of railways have done us in consenting to leave for important loan transactions other made in the Yangtze Valley alone, and Great. ways your anxious and harrassing separately or in participation with the Britain ma utains a financial interest in duties in Peking to take the leading part great international banking houses of the
nearly 2,000 miles of railways built and of this policy operating outside that area. China is a this ceremony, which marks world. It was in paŋuance o portant day in the history, of the Bank that the Corporation signed certain inter country which owing to the nature of hen--
bank agrements which in November, (Applause)
#
Your Excellency, I now ask you to declare this building open, and I trust it camera, and einema men.
may prove to be a symbol of security and Mr. A. O. LANG, Chairman of the un augury of the prosperous expansion of Court of Directors, said:-
the trade with the industrious millions of It was in 1801 that the Hougtong this country, which has become a fartor Shanghai Banking Corporation first opened its brunch in Shanghai-at first of first-class importance in the econemic is au uspritentions building on this site adjustment of the world. where now stands the Palace Hotel, and later in the building which was for so long a familiar feature of the Bund, and was only recently pulled down to make room for the present structurs. In those early days the Shanghai Bund presented a very different aspect from that which it hrs now; and the building of the Hong kong and Shanghai Bank, flanked on the ong sida by old-fashioned Hong, and on the other by the picturesque but dila pidated Chinese Yumen which then did
1910, led to the formation of the organi. Boil and the cost and difficulty of main- duty for a Custom House, was the most
SIP RONALD MACLEAY Saidir. Stephen, zation which since has been known by taining roads clamours for development
that Now while much : striking object which mest the eye of the
Ladies and Gentlemen,-It was on May that terrible and un-English name The by a network of think tramways with sub traveller coming up the river. No out at 5th, 1921, just over two years ago that Consortium. The Contium has, asidiary or feeding lines.
has been achieved in this direction, a that time could have foreseen the enormous ay predecessor, old friend and colleague, you are aware, passed through many
THE MINISTER'S ADDRESS.
in the trade and wealth-of-Shaghaiya and signal privilege of laying the founda
What
expansion which has since taken place Sir Beilby, Alston, had the great honour cissitudes, its menbership has varied great deal more still remains to be dond evidenced by the many handsome, build- tion alone of this wonderful edifice dear from time to time, and the scope of its and yet it must be admitted that all over ings which now vilden ita frontage; nor tined to be the new home in Shanghai activities has been restricted and sub China construction is in abeyanes could the first Directors of the Huck, in of caebf the oldest, as it is one of the sequent gain enlarged. It was finally is the cause of this suspension of devcion- their must sanguius monents laye foremost successful and notable, examples of} simmenso volue of business British enterprise und financial genius in constituted as a four power group in ment? Again as in the case of the tem which now passes daily through its the Far East, the Hongkong and Shang-October, 1820 at the initiative of the porary infiction of the Consortium the Shanghai branch, necesitating the must hai Bank. When I passed through Shang: United State Government. As is only, fault lies with China, herself, or if you highly organized machinery for its safe hi, in the early days of February the siting the Hongkong and Shanghai like it better with conditions in China.
great building was nearing completion,
and efficient handling, te
as the leading I need not enter into details as the causes on which this building has been designed scaffolding and imposing as it looked English bunk ju China, has always been aro well known to every intelligent by is able architects, and the perfection of detail with which the work has been even in its swaddling clothes, it only pre the predominant partner in the associar observer of Chinese affaira Brielly stated carried out will make it a fitting home.sented to the interested spectator a more tion of fugncial houses which compone the the present deplorable condition of the for many generations The decision of the or less veiled outline of its splendid pro British group. I happened to be working Chinese always is due to mismanage Directors to incur, this heavy cost may be full glories which were to be May 1; be in the Forrige Office when the American ment, atarvation of the lines by a needy, regarded also as a visible proof of their allowed to say that reality has outrun proposal for the reconstruction of the Central Government and to the constant faith in the future of this teeming anticipation and that this magnificontortion to present four group interference with the revenues, the traffic settlement, and of the great country of building not only surpasses the great which the commercial gate, a faith
The solid lines and spacious proportions but was still encased in an armour of Banking Corporation
portions and hardly gave promise of the
which I hope may remain unshaken by achievements which she skill of the basis was under consideration and it was and the rolling sicck by indepenilent or this state of things has been remedied and the present deplorable condition in China architects, Mesare. Palmer and Turner, my privilege to be thrown into constant semi-independent military leaders. Until and the recent outbreak of Brutal law and the art of the designer, Mr. Wilson, contact with that charming and norm the existing load of debt ružoved therd lessness which has justly aroused the had led us to expect, but will stand as a
indignation of the world. Though mond lasting tribute to the energy and business plished gentlemen, fir. Charles Addis can be no serious talk of freeh railway
whose immense competencem Chinese and construction in China tions look dark now let us remember that capacity of the contractors.