10
Money and Markets
EMPIRE SMELTING
SCHEME.
PROPOSAL TO UNITE
METALS.
Sir Robert Herne sprang a sur prise upon his audience at the mort- ing of the National Smelting Co., when he introduced the project of a company with the "anticipated title of Imperial Smelting Cor- poration with a nominal capital of £7,500,000, part to be in preference and part in ordinary shares; there ate to be ne deferred shares.
Prominent. Participants. Introducing the subject, Sir Robert said:
The Board will include the fol lowing:-
|
For each 100 ordinary, 43 in cash and 150 at rate of 31. per full share. (Ex div.)
THE HONG KONG DAILY
INTERNATIONAL SILK CONFERENCE,
NEW SYSTEM OF CLASSIFICATION.
[United Press.)
New York, Oct. 17.-Delegates to the International Silk Conference to-day had an informal discussion For each 1,000 deferred shares, of the Japanese plan for classifen- ordinaries in new company:tion according to composite Value, fractions payable at 168, od, per namely, "sogothennhugi," as it is
called in Japan.
fall share.
The memorandum of association of the new company will provide that no foreigner or person under foreign influence or control shall have a vote on the company's affairs; these provisions being in the memorandum of the company will be unalterable, Further, the articles will contain a stipulation that all directors must be British-
17.
Close Co-Operation.
The plan, as outlined by Sir Robert, means in effect that the new company, shall play a part in the world's snelting industries, fit- tingly representative of the vital interests of the British Empire in regard to rod-ferrous metais.
1
}
**It is right that I should state that in this arrangement the Burma, Corporation, South Broken Hill, North Broken Hill, the Electroly tie Zine Company of Australasia and the Zine Corporation-as you In this respect, under the con know lending producers of our raw ditions of contract with the Bri- materials wrll as the Britishish Government," said Sir Robert, Metal Corporation, are prominent we have hitherto been fortunate, participants."
in arquiring what we need on far- ourable terms, and have been wise enough by direct purchases, by xr- rangement with producers of ores and concentrates, and by associa tion with those engaged in their production, to require control of substantial supplies for the period following June 30, 1920. It is part of our policy, already successfully applied, to form the closest possible contact, especially within the Em- pire, with those who control the sources of our raw material. We believe that by this means we can fender each other efficient service. The closer the relationship between
Rt. Hon. Earl Inchcape (chair man); chairman P. and Ó. Co.
Sir Lingard Goulding, director National Smelting Co.
Sir Cecil Budil, director British Metal Corporation and Eastern Smelting
Hon. W. L. Baillien (Australia). Mr. Wm. S. Robinson (Austrn- Fin), of Burma Corporation and Zine Corporation.
Mr. P. E. Marmion, of Burma Corporation.
Caps, Oliver Lyttelton,, British Non-Ferrous Mining.
Mr. John Covett, with wide min- ing interests.
Mr. R. G. Perry, director Bri- tish Cyanides and National Spelt.
Sir foht. Horne, chairman Ya. tional Smelting Co...
(
the mine and the smelter, the het- ter for all concerned."
The share capital of the National Sinelting Co., authorised and issa ed, is £1,700,000, divided into £60,000 in 18 per cent. Prefer- ence with participating rights up to 10 per cent., £1,000,000 in 21 Ordinaries, and £50,000 in 18, De Circulars are to be posted to hold-ferred shares." Recently the Pre- ers of National Sinelting Co. invit-1 ference changed hands it 29. 31. ing their ex banke into the new company on the fellowing basis:
Torms to National Holders,
For each 100 preference, 140 pre ference shares in the new company. Fractions to be paid at rate of s per full share. (Ex div.)
The
and the Ordinaries at 33% 31. Dividends on the Ordinary "capital have been at the rate of 10 per ecat. per annum for several years past. Nothing has been paid on the De- ferred capital.
*
Indications are that this is like ly to be adopted.
Italy has agreed to the Japanese methods and has promised to accord co-operation.
The Chinese delegates announced that they are offering no special plan and will follow the Japanese “ le
Jr. Mitsukoshi will formally present the Japanese plan on Fri- day.
ARRESTED · HIS WIFE.
POLICE CHIEF AND AN
ACTRESS RIVAL.
Mr Joseph Herden is not only the chief of police at Fairhaven, a New Jersey village; he is also he needs to be a the entire police force. As such, brave man, and
et his bravery was proved to
the hilt.
PRESS, WEDNESDAY,
ITALIAN AMBASSADOR
RECALLED.
SECRET CODE LOST.
(THROUGH RETTER'S AGENCY.]
OCTOBER 23, 1929.
BRITISH ENGINES" IN THE 'DOX."
AGAIN SHOW THEIR MERITS.
[BRITISH WIRELESS SERVICE]
Ruoat, Oct, 21.
BERLIN, Oct. 21. Signor Mussolini has recalled" the
The fat of the German giaal fly- Berlin, in boat, Doquier Dex" in mak Italian, Ambassador in Count Aldrovandi Marescotti, and ing a flight of one hour over Lake the whole of the Embassy staff, Constance with 150 passengers and owing to the mysterious disapa crew of 10 is regarded as a res pearance of a secret diplomatic markable developmant in aviation. code from the Italian Embasay.
Satisfaction is felt in aeronau- tien eireles that British, enginys are again showing their merits. The ongines of the " Dox "each of which develops 325 horse power, are British Jupiter machines.
PRES. HOOVER'S TOUR.
FİRST, LONG JOURNEY
AS PRESIDENT.
[REUTER'S AMERICAN SERVICE:)
It is now revealed that the British Air Ministry have placed an order with the firm of Short Brothers of Rochester for a machine of similar
New Yox, Oct. 21.-
character and of practically the President Hoover left Washing-same dimensions ns the "Dornier This machine is designed ton for Detroit this morning, mak- ing his first long journey from the for civil aviation purposes. capital since he assumed office as President.
He was given a warm welcome on his arrival at Detroit, and he Miss Peart Mack, a former Bread-
He received a telephone call from will speak at the opening of the
haven, who wished him to stop ange, founded by Henry Ford. way actress now living at Fair. Edison Institute at Dearborn Vil- disturbance at her home, and he drove in his car to the assistance of beauty in distress.
He found a woman hammering at Miss Mark's front door and using unladylike threats.
police chief, Jaying the strong hand "You're under arrest." said the of the law on the woman's shoulder. She turned round.
It was Mrs, Herden.
Miss, Mark insisted that the pri soner be held. Mr. Herden, sworn to support the majesty of the law. did the brave thing. He drove his. wife home and locked her in her bedroom, because Fairhaven has no gaol.
Soon afterwards, Mrs. Herden was in court, charged with disor derly conduct. She there spoke for the first time and admitted that she had been disorderly.
Why should I not be disorder- ly ? she asked the magistrate. Miss Mack has been practising her actress's wiles on my husband.”
The nagistrate dismissed the case on Mrs. Herden promising, to be good in future.
The first morning out of Seattle brings this view of the) Bitter Root Mountains to passengers on
NEW OLYMPIAN
The building of The Milwaukee Road thru this rugged mountain range was a notable engineering feat. From many points on the climb won- derful bird's eyes give vivid impressions of the difficulties which they, overcame. "Going over the hill" in the days of steam was a task indeed, but the electric locomotive makes easy work of it-and gives you who use the new Olympian a comfort and a pleasure in mountain scenery, hitherto unknown on railway journeys.
Roller bearings add to the riding ease of this train-all the way from Seattle to Chicago. N
No other transcontinental train is so equipped.
Rector's delightful dishes are served in the dining car-another exclu- sively Milwaukee feature.
The observation car contains many conveniences that add to your en joyment-lounge rooms, library, buffet, radio, valet, maid.
*th
61 Hours Seattle to Chicago
CHICAGO MILWAUKEE
ST. PAUL
AND
PACIFIC
Я.
For further information addres American Express Travel Bureau, Thos. Cook & Son,
your nearest steamship office, or
E. Cinot
Gen'! Agent Pa. Dept.. Saatide
A P. Chapman, Jr,
General Aget. Victoria'
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W.D. Dipom Gel Past Agent, Chilçəyə
Cable Address "Milwaukee" ·
longest electrified railroad in America
Dox."
Details are kept secres, but much is expected of the machine. It is stated thas it will probably be n triplane with engines between the lower and middle winga.
No Stowaways.
BERLIN, Oct. 21. The Dornier Dox" crew num-
Mr. Hoover will also speak at the Cincinatti and Louisville cele-era 19, hence 169 are aboard, but
the report which says that it includ brations of the completion of the ed stowaways is incorrect, Reuter. canalisation of the Ohio River from
confluence of the Ohio and the His- Pittsburgh to Cairo, Illinois, at the
sippi.
TROUBLE AT LAHORE TRIAL.
REBELLIOUS PRISONERS.
(THROUGH LEUTER'S AGENCY.]
ADVANCES TO COTTON INDUSTRY.
U.S. FARM BOARD'S DECISION.
(REUTER'S AMERICAN SERVICE).
WASHINGTON, Oct. 21. The Federal Farm Board an- nounces that it lelieves the prevail- ing prices of cotton are too low, and therefore proposes to lond the Cotton Co-operation Associations sums sufficiens to bring the total At the resumption of the conspiramount borrowed from all sources acy trial in connection with the by such associations to 18 cysts a murder of Police Inspector Saun-pound on graded and classed cot- ders, one of the accused threw.n The Federal Farm Board belioyra slipper at the witness.
LAHORE, Oct. 91.
Disorder ensued and a jailer lift, ed up the arm of a chair, which he alleged the accused had broken of for the purpose of throwing it at. the witness.
The accused all shouted that the jailer had himself removed the arm, The agistrate ordered the accused Loe handcuffed;"
TSARIST GENERALS
.EXECUTED.
* COUNTER-REVOLUTIONARY ACTIVITIES."
(THROUGH REUTER'S AGENCY.]
Moscow, Oct. £1.
It is officially announced that five former Tsarist generals have theep sentenced to death and executed on a charge of being con eerned in counter-revolutionary organization in the Soviet muni tions industry with the object of weakening the country's defensive capacity by acts of sabotage and espionage and of facilitating foreign intervention.
Other men charged with the generals mentioned were found guilty and sentenced to various terms of imprisonment.
+
U.S. AND OPIUM SMUGGLING.
CHANGES IN TARIFF BILL
(REOTED'S AMERICAN SERVICE.]
WASHINGTON, Oct. 21.
30
The Senate has approved the smendment of the Tariff Bill free- ing the ship-owner or the ship's officers from liability for opium smuggling if they are able to prove their ignorance of the attempt.
During the debate, it was stated that of fines running into hundreds of thousands of dollars imposed upon steamers, only about 15,000 had been paid.
TROUBLE IN THE WOOL
INDUSTRY.
י
STOPPAGE THREATENED.
{THROUGH REUTER'S AGENCY.].
LONDON, Qot. 2. The prospect of A stoppage affecting two hundred thousand people has been created by the re- sult of ballot among the wool textile workers, showing a percent- age of over 79 per cent, against the Receptance. of a wage reduction of 8.3 per cent. proposed by the em- ployera.
ton.
that the
present unsatisfactory price of colton is due to the mild autumn weather, leading to the rapid marketing of products
The Board explains that the Cot- ton Co-operative Association are now borrowing certain sums for ad- Tances to members from banks and from the Boari
The latter proposes to supplement these loans, and it is announced that the Board is prepared to take similar actions in regard to wheat,"
DOCK STRIKE AT KARACHI,
TROOPS EJECT TROUBLE ›
MAKERS,
(THROUGH ELUTER'S AGENCY.")
KARACHI, Oct. 9. Troops were called out to-day to deal with disturbances in connection with a strike of 700 dockers, who iare demanding shorter hours.
They cjected the strikers from the premises of a wharf where they were threatebing loyal workers,
M. CHICHERIN ILL.
TREATMENT IN GERMANY.
(THROUGH REUTER'S AGENCY.]
Moscow, Oct. 92.
A medical bulletin says that M. Chicherin contracted diabetes in 1325. Several infectious diseases in the past three years were followed by polyneuritis last year which has compelled him to go to Germany for treatment. He is still et Weis. bades.
REAL LIFE DRAMA IN A CINEMA.
BARONESS AND MAN SHOT
"DURING A FILM.
Viennt. Baroness von Rosen, the of the most beautiful women in the younger set af Viennese society, and a man named Joseph Hajny, were mysteriously shot while they were sitting in the stalls of s fash- ionable Vienna cinema theatre watching a performance of the film
"Mascotte.'
The film had only just begun when, two shots suddenly rang out in the darkness. At once all was confusion and turmoil, panic-strik en men and women rushing in o wild stampede for the doors.
When the lights went up the baroness and Herr Hajuy were found lying unconscious on the. floor. Herr Hajny has died from his wounds.
Frau Mary Hajny, the beautiful young divorced wife of the shot man, who is at present stated to be carning ber living as a dancer, was later arrested by the police.
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Queen's Buildings.
AMERICAN EXPRESS
Agents.
FRAUD.
SHANGHAI CLERK ARRESTED AND CHARGED.
་་
Telephons C. 1030.
THE U.S. TARIFF.
ALLEGATIONS OF "LOBBYING."
[United Prosa.]
Washington, Oct. 17-Senator Hiram Bingham of Connecticut tes- tified to-day at the Senate's hear- ings on the activities of lobbyista" in Washington.
He said that he had engaged Mr. Charles Evanson, & tariff expert in the employ of the Connecticut Manufacturers' Association, as his private secretary because he (the
Senator) was busy with territorial and army matters and needed ex- pert advice concerning Connecti- cut's tariff needs.
Shanghai, Oct. 13:-Alleged to have embezzled approximately Tls. 121,000, from the American Express Company where he was employed as chief clerk, Philip Chen, 39, Cantonese, was brought before Judge Chau and Deputy Cassels in the Provisional Court to answer charges of misappropriation of company funds. The hearing was "remanded peading further investi- gain he first appeared before the court the charges accused him of embezzling only Tls. 0,005.30, but Mr. F. Schubl, attorney for
This fact, when divulged" recent- the American company, in asking that the case be remanded, statedly in connection with the fact that that it had later "been discovered Mr. Evanson had attended closed that Chen had taken Tls. 121,000. Missing Since 1928. Chen was arrested when he, in company with an attorney, went to the Louzz Police Station and voluntarily surrendered to the authoritics. He had been missing sinen August, 1928, when he my steriously left his firm and went into hiding. His embezzlements are alleged to have covered the period between February 1927 and the time he left his firm
+!
of
When questioned by the police, Chen said he bad misappropriated about Tls. 10,000 for the purpose helping a friend. He added that if given the opportunity, he will re- turn the money to the company by instalments.
(Continued at foot of next column.)
executive meetings of the Senate in his capacity of secretary to Benator Bingham, caused a storm which the Senator said then and implied to-day was without genuine - foundation.
Senator Bingham said that he never considered the Connecticut Manufacturers Association in the capacity of lobbyist, and added that members "seldom came to his office.
Personally, he said, he would not tolerate a lobbyist, and he never considered Mr. Evanson as such.
Chen's counsel asked for bail on the grounds that he had volunarily given himself up, compet
The request was refused.