THE HONGKONG DAILY
PRESS, WEDNESDAY, MAY
K.
SAILINGS FROM HONGKONG SUBJECT TO ALTERATION
LONDON, HAMBURG, ROTTERDAM &
Colombo, Suez and Port Said.
ANTWERP Via Singapore,
Sunday,
15 June
"ANDES MARU” !
THE BANKERS AND RUSSIA, BOWEHN & CO.,
BIO DE JANEIRO, SANTOS & BUENOS AIRES-via Saigon, Singapore, mi, Russia's eveslit in Grent Britain
Colombo, Durban and Capetown.
"CANADA MARU -
BOMBAY Tia Singapore and Colombo.
"BORNEO MARU" (Calls at Penang)
·" SUMATRA MARU
BANGKOK, SAIGON VIR SINGAPORE.'
-* KISHU MARU”
CALOUTTA via Singapore & Rangoou.
GANGES MARU” (Calla at Penang)
- Friday,
8th Jane.
Wednesday, 4th Jung. Friday, 20th Junie.
Sunday,
1st June.
Thursday, 26th June,
ہو
No B. Manu Ron,
SELANGHAI,
"CREDIT RESTORATION.
MISTAKEN IDEAS OF A LOAN..
Member British “ Chamber of Casimeres Following is the text of memorandum, Shanghai), MT. W. BOWERN, Follow of signed by leading London bankers, set to Institute of Chartered Shipbrokers, Incar ting forth the steps by which, in theirporated by Royal Charter, Loudon.
STEAMSHIP AGENT AND SHIPBACKERS fcan be restored :--
For the Purchase, Sale and Charter of Vessels The Government of the Union of of any Tonnage Fassenger and/or Cargo, New Suviet Socialist Bepublies have informed sad or Old, with delivery Chius at Very Low
Prios. 'his Majesty's Government of their inten-
SALVARE OPERATORA, MARINA STATEY(KS, tion to send to London in the immediate
AUCTIONEERS, Coat MERCHANTS, future representatives with full powers,
FARIGUT BROKERA, METAL MERCILANTS among whose tasks will be the deter
Machinery For Sale, New and Old in First mination of means for the restoration of Class Condition, Russin's credit in Great Britain.”
IMPORTERS, AND EXTORTES, Sanz-BroкIK,
(Member, Shanghai Share-Brokers Associa tion)."
VICTORIA, SEATTLE, TACOMA & VANCOUVER VIA Sbaugbai and normal conditions between this country
Japan Ports.
"ÁRIZONA MARU,
End of Juns
NEW YORK VIA Japan Ports, San Francisco and Panama.
JAPAN PORTS-Moji, Kobe, Osaka, Yokkaichi and Nagoya.
*KWAYO MARU•
"ARIZONA MARU”.
KEELUNG via SwaTow & AMOY.”“
*KAIJO MARU”
“AMAK USA MARU”
+
TAKAO via SWATOW & AMOY.
KOTSU MARO
·TAKAO & KEELUNG.
Tuesday, 27th May End of Juna 2
Sunday, 1st Jana Noon. Sunday, 8th June, Noon.
Thursday, 3th June, 10.
Sunday, 8th Juna.",
OSAKA SHOSEN KAISHA.
K. SHIMA, Manager.
For further pasticnlara please apply to
"BUSHO MARU"
Telephone Nos. 4058, 1088, 4000.
HOLLAND EAST ASIA LINE
OF THE UNITED NETHERLANDS NAVIGATION COMPANY,
Regular Four-weekly, Service between
JAPAN, VLADIVOSTOK, CHINA, HONGKONG, MANILA,
SINGAPORE
AND
ROTTERDAM, AMSTERDAM. HAMBURG, EREMEN, AND
NORTH, CONTINENTAL PORTS.
HOMEWARD BOUND:
OUTWARD
BOUND:
8.5" WESTENDIJK".
18. "OLDEKERK”
dae Hongkong Bed June
Ist July
All Steamers bare a Imited accommodation for pangangara. For Freight, Passage and further particulars, please apply to-,
hone Central No. 1574.
CHINA-JAVA-JAPAN- LYN.
Hotels
Agents.
York Building.
JAPAN AND
MANCHURIA
Members of Japan Hotel Association
c/o Taric BUREat, Dept. of RailwAYS, TOKYO,
Average Bates for Single Rooms (without Bath) including meala
*Chuzenji (Nikko):
Lakeride Hotel
Kamakam ---
Kailin Hotel
Karuizawa :—
Mikaan Hotel Mampei Hotel Kobe
Oriental Hotel
Tor Hotel
BUN CHOSEN
Pusan Station Hotel
Fuxa
Keijo (Seoul):
Chosen Hotel
Shingishu:
10-13 in cilies and some popolar resorts,
8-10 in country districts.
IN JAPAN PROFER: "
Мародн
Kyoto
Shizuoka
Krote Hotel
Nagoya Hote!
Hirako Hotel
Nars
Park Hotel Miyajinta
Miyajima Hotel Miyanoshita
Hotel
Sagasaki:
Japan Hotel
Singisha Station Hotel
Nara Hotel
„Nikko:
Kazaya Hotel Oxako
Omka Hotel
Shimonneki
San-ya Hotel
IN TAIWAN (FORMOSA):
Taibokn-Taiwan Railway Ectel
Changchun:
Daitokwan Hotel Tokyo:
Imperial Hotel Omori Hotel
Tokyo Station Hotel Tankiji Seiyokan Hotel
Yokohama
Grand Hote!
IN MANCHURIA,
Yamato Hotel Dairea:-
Yamato Hoteli Hoshignara:
Yamato Hotel-
ASAHI BEER
SPECIALLY EREWED FOR EXPORT
DAI NIPPON BREWERY CO..
LIMITED.
TOKYO, JAPAN,
SOLE AGENTS;
Hoton (Maden):
Yamato Hotal
Ryojun (Port Arthur):-
Yamato Hote!
MITSUI ¿BUSSAN KAISHA LTD)
HONGKONG.
Since it is desirable that all those who are interested in the restoration of
and Russia should contribute what they ean to the solution of this problem, we venture, tú indicate what in our view are the means by which the Soviet Govern ment's aim ea he achieved. In express ing our views below we lieve we inter prct correctly, the "general opinión of the financial community of this country.
44
The nicans Tor the restoration of Russia's credit in Great Britain' are the following:
That a recognition of debts, publié aid rivate, shoukt be agreed upon ac reptable to both countries.
2-That an equitably arrangement for restitution of private property to foreigners, skönld be made,
3-That u proper Civil Code should be brought into effective operation, independent courts of Inw created, and the sanctity of private contract again firmly established,
That the Russian Government should definitely guarantee that in future private property, shall in all circumstances be free from danger of confiscation by the State.
5. That bankers, industrialists, and trader in this country should be able to deal freely, without interference by Government Authorities, with similar private institutions in Russia" con. trolled by men of whom they have per sonal knowledge, and in whose charse ter word, and resources they have cop fidence.
8.That the Russian Government should abandon their propaganda against the institutions of other coun 'tries, and particularly against all thone from whom they propose to request financial assistance..
A PROCESS OF YEARS. When these conditions have been estab lished confidence in Russia will begin tol be restored, and the flow of credit will TACIODINIENCE. But the process will be gradual Credit and con5depce can be destroyed at a blow. They like years to restore.
J
#
SOLE AGENTS FOR CHINA- GEREN'S PATENT ANCHORS SAVULL WARREN & Co. Ltd. (Sbeeld), High-Class Steel Manufactures (Tank Brand).
Catalogues and Price Lists on application,
(Euquires Welcuavsl.)
CABLE Appss: Bowens, SHANGKAL
Codes: Bentley'», Scott'», A.B.U.
4th Edition and Improved.
OVER MALFACENTÚNY REPUTATION FOR THE
INTALUAN the DINKASKN af SSA LUNDILAN,
·ONIANEGRATEL, RACKACHI,NICAFE
Prica Sa.. leading CHEMINYA, ar Post Five DULECLancheloeNavachlichXAL.W,A, Lomforğ
APERIENT
DALECLERG'S EVER KIDMOYS
DR.LECLERC'Speed
DA LEGLERG'S ILLE FOR
To the Publisher
DAMARIA. POF$1)
"HONGKONG WEEKLY
PRESS?!
14, CHATER ROAD, HONGKONG.
Please send me the
froma.
"HONGLONG WEEKLY, PAISA,"
1924,
sddressed as follows:
main lofted. Russia, must rely, as all other nations rely, on the thousand and- one channels of private financial, indus trial, and commercial co-operation.
Moreover, the actual conditions of this country and of the world impose limita- tions on the supply of capital and credit to Russia, which it is as well to recogCOMMON STANDARDS STEDED Jnise.
From such information as is available for the resturation of confidence outlined If, however, the cishditious precedent it appears that the Russian Government above are honestly accepted and enforced may be under the impression that mon a
settlement very large amounts of capital by the Russian Government, credit will will be at once available either from the begin again to flow and should, if the con. Government direct or through private idence thus shown "proves justified, Snancial channels. That view is mistaken rapidly increase in volume. If, on the for the following reasons:--
other hand," the Sories Goverment re- Financial assistance to Russin may, put Fard the means of the restoration of credit which we outline as being of a shortly and in general terms, take one of character which they will not or cannot two forms: either the actual investment of capital, more or less permanently, in accept, then, while undoubtedly trade productive enterprises in Russia itself will continue between Russia and the
in railways, ports, industrial, com- mercial, and Snancial undertakings and so forth or the grant of temporary banking credit for the purpose of final eing exports and imports, such advances aot constituting any actual investment Russia itself, and being constantly liqui- dated and renewed in the ordinary man-
ner.
For the permanent supply of capital, which she s urgently needs, Russia, like all other countries, must look not to bank- ing institutions, which cannot lock up their funds in investments of this nature, | but to the private investor, and the en- terpreneur, large and small. But these latter, having the whole world to choose from, will naturally invest their money in those countries where conditions for capital appear to be the safest, It is obvious that they will only choose Russia when, and to the extent that, full confi ence in that country returns.
PRIVATE "INVESTORS' RISKS.
The vase is not altered if, as we as- sume, any assistance by his Majesty's Government, if it be contemplated at all takes the form, not of direct loans to the Russian Government, but of ex- tenling the True Facilities Act and the Exports Credits scheme to Russia. For in either case, the risks will fall in the first instance on those persons or cou panies' who are venturing their money Russia. If, therefore, risks in that country
are regarded as greater than elsewhere, these forms of Government assistance will not be made use of..
oloreover, for permanent capital, through whatever channels, Government for private, it is provided Russia, must compete with the rest of the world. The mount which this country has available for export to other pantries is limited.. The Board of Trade has recently esti mated that in the year 1023 the total nmount which this country had available to lend to all other countries WES £7,100,000. In the last three years we have lent on the average to the British Empire alone over £80,000,000 per annum. It must be remembered that our resources for foreign lending, have been lessened by the way, as well as by the necessity we are under to repay annually a large sum to the United States:
The grant of temporary hanking credit stands on a somewhat different footing. Such credit for the financing of ship. ments of raw materials from Russin after they have actually reached seaboard is. a certain extent, being provided already But if the Russian Government attempt to limit all foreign traile to Gov- ernment-controlled channels, it will re- (Continued on next colunin.)
to
outside, world, that trade will be strictly limited.
Russia's recovery, which lepends upon the resumption of accepted methods of intercourse common throughout the world, will be indefinitely delay:
Signed by Charles Addis, R E. Brand, Laurence Currie, W. R. Glazbrook, F, C. Goodenough, Harry Goschen. E. C. Grenfell, Eric Hambro, R. Holland-Martin, R. McKenna, Walter Lost, J. Beaumont, Pease "Swartbling.
1024
INDO-CHINA
11
STEAM NAVIGATION COMPANY, LIMITED.
SAILINGS SUBJECT TO ALTERATION. /
•TSUNGTAU via SWATOW
& SHANGRAI - TIENTSIN 4 SHANGHAT
STRAITS & CALCUTTA .. ́SHANGHAI vis SWATOW
KOBE SHANGHAFA MOJI MANICA
HAIPHONG ROTHOW HANGROK VI
Via via SWATOW. via SWATOW &
SANDAKAN MANILA via AMOY HAIPHONG THOIHOW... KOBE SHANGHAI
.. BANGKOK via BO‘HOW CALCUTTA LINE
Line
› WAISHING"
CHEONGSHINO
·LIENSHING"
·BOSANG YATSHING
„ “FOOKSANG* AYUENSANGTM #MINUSANG "HANGSANG
"YOSANG*
MAUSANG". "SUISANG LEESANG "KUTSANG
"CHUNSANG*
Wednesday, 28th May, 10am, Wednesday, 29th May Noom Thursday, 29th May, Noon.
Thursday
Friday Saturday,
Saturday,
Sunday,
9th May, p 30th May, 7
IN
310
MAY
Dist May 11
7***
1st June, 10. 2nd June, 10 m
9
7th June, 1 pm
7th June, 3pm
Sth June, 10
Wednesday, 11th Jane, 7am.
Saturday, 14th June, 10am.
This
afforda regalar sailings to Cakuutta, Penang and Singapore; returning from. Calcutta steamer proceed via Straits and Hongkong to Japan, scossionally calling at Shanghai. All steamers have excellent passenger accommodation, fitted with Wireless and carry
fully
y-qualified Surgeon,
approximately every three days between Canton
ad
SHANGHAI LINE unphat, sometimes calling at Swatów. Through tickātu cɛm...
MANILA
be obtained and through Bills of Lading are issue? to all Northern and Yangtze Porta via Shanghai.
LINE-A weekly service is maintained with Manila by vessels with good passenger accommodation, sailings from both ports every Saturday, at 11 am. "HAIPHONG LINE --Sailings approximately weekly for passengers and cargo, calling (að.
BORNEO
both ways.
LINE FORigdy sailings to and from Sandakan by two 5,000 to
steamers, Ex. HINSANG" and ... MAUSANG." both steamAIS having excellent passenger accommodation. through Billa
Cargo taken on Bill of Lading for Radat, Jesselton, Labuan, Tawao and Lahad Datu
TIENTSIN LINEA ngular servics is van trom March to November between Hong-
kong and Tientsin, occasionally calling at Weihaiwai and Chefoo BANGKOK LINE-A weekly service is provided between Hongkong and Bangkok via Swatow by five steamers fitted with up to-date passenger" actom- modation.
CALCUTTA
S.N
LINE
HOSANG" will be despatched on or about Thursday, 29th May, p.m., for SINGAPORE, FENANG
& CALCUTTA.
Through Bills of Lading issued to RANGOON, MADRAS, PORT
SWETTENHAM and DUTCH EAST INDIES.
For Freight or Passage, apply to
JARDINE, MATHESON &
GENERAL MANAGERS..
TELEPHONY No. Central 215,
GLEN
LTD.,
AND SHIRE
JOINT SERVICE OF STEAMERS.
U.K-STRAITS, CHINA & JAPAN SERVICE
OUTWARDS.
Vessel.. CARMARTHENSHIRE CARNARVONSHIRE "GLENTARA *
HOMEWARDS
Dua Hongkong Vessel Leaves Hing. Discharge.
26th May * GLENGARRY -
18th June
29th Jang.
London, Hotterdam
-Movements are subject to change without notice.
For Freight or further Particulare, please apply to
3rd Jane. *Hamburg,
JARDINE, MATHESON & CO., LTD, THE GLEN LINE, LTD., LOENTE." Telephones: Central No. 215 suber. 23, and Central 3596.
THE HONGKONG & WHAMPOA DOCK Co., LTD.
TELEGRAPHIC ADDRESS, “KANIFESTO," HONGKONG.
Copes Unis A1, ABQ. Tith Edition: Engineering: First and Second Edition Wertern Union and Watkins, Bensen's, Marooni.
Bock Owners, Ship Builders, Marine and Land Engineers, Boiler Makers, from
Brass Founders, Forge. Masters, Hlectricians
OIL TANK STEAMER "PALUDINA
437 0° 58′ 1′′ 81, 0o 8,400 tons d.w, x 8,100 K.F.
Bait by THE HONGKONG & WHAMPOA DOUK CO., LTD., st KOWLOON DOCES W the and
• ABE ANGLO BAXON PETROLEUM CO., LTD, bằng one of four garlag renda bwith, * - soon WORKS
· the same order,
Please address enquiries to the Chief Manager ;
RM DVERE 80, MINA. Kewigos Door, LorexCY