$16.50
Our
net.
special
clearing price for
Jantzen
The suit that changed bathing to swimming
SEA SUITS
All sizes in plain and striped effects
MERIDIAN SUITS
in small sizes
$3.00 net.
ONE WEEK ONLY June 29th
July 4th,
Mackintosh's
"FIGHTING THE MOTH”
SANITEX MOTH-PROOF BAGS HAVE • NOW
ARRIVED ALL
RECEIVED_LISTS.
OUR
CUSTOMERS
·WHO
CHOPPED.
MOTH-PROOF BAG
OUR DEPOTS.
WILL RECEIVE BAGS IN EXCHANGE AT OR
WORKS
ON
EXTRA BAGS MAY BE HAD APPLICATION TO OUR WORKS ONLY. COMPLETE SUITS BAGS 50 CTS. EACH, OVERCOAT SIZE 75 CTS.
THE STEAM LAUNDRY CO. Sanitary Laundrymen. Dyers and Dry Cleaners. Receiving Depots and Agenter"
..
Head Office & Works: Mongkok, Tel. 57032 (Kowloon Hotel Depot).. Hong Kong Depot: 16, Stanley Street, Tel. 21279. Peak Hotel Depot: Peninsula Hotel (Visitors only). Hong Kong Hotel (Visitors only). No. 2, Peninsula Hotel Arcade and at No, 884, Nathan Road
Qubs (Next dier to Majestic Theatre); VARA DRE
ASSETS
£13,000,000
CLAIMS PAID
£40,000,00
GENERAL
ACCIDENT, FIRE & LIFE ASSURANCE CORPN., LTD.
All Classes of
INSURANCE
لوه قراره بی
WORLD WIDE
ORGANISATION
AGENTS
JAMES H. BACKHOUSE
CHATRE TOAD
TEL 21783
HONG KONG DAILY PRESS, THURSDAY, JULY 2– 1931.
CHANGING ENGLAND.
(Continued from Page 1)
LORD KYLSANT AND R.M.S.P.
EVIDENCE OF LORD PLENDER CALLED. AND WITHDRAWN BY CROWN÷K.C.
SIR W. MCLINTOCK'S INVESTIGATION.
Yet England to-day seems to mo to be ever so much more prosperous than it was thirty years ago. It is not quite fair to consider the state of affairs ten years ago than there was the hectic reaction after the
Lord Kylaint again appeared be war and money was 'boing thrown.
fore the Lord Mayor (Sir Phune about. If we take a long view and think of England thirty years Nal) at the Guildhall on June 8 ago, and then compare it with the in connection with summonses re England of to-day, we must wishing to the affairs of the Royal
Mail Steam Packet Company. that we, of the older generation, were only twenty-one in this year pl grace,
During the last two weeks we have been searching the South of England for a a summer
residence. Everywhore are new houses, They are going up in hundreds and in thousands on the outskirts of the towns and cities. London is in creasing its suburbs, absorbing the villages of Kent, Surrey and Essex.
England, that once was a nation of householders, is becoming nation of houseowners,
That is not a sign of decadence The desire to possess a home, and
the realiantion of that desire, is
a-reinforcement that means added stability for the nation.
Whatever other industries may
be depressed in England, those
The Charges.
Mr. Pritt, in his opening state- mont, said that the essence of the charges was that Lord Kylsant in 1027 and 1028, by a profit and loss count and balance sheet, for the form of which, it was alleged, he was perschally responsible, repro sented to his shareholders, and so the world in general, that, in each of the two years 1956 and 1927, the Royal Mail Steam Packet, group had made large trading profits whereas, in truth, so far as trad- ing was concerned, the group had made serious losses.
the prosecution also alleged that
Mr. Morland, as auditor of the Royal Mail Stonm Packet Ccm.
companies in the Group who could give the necessary time to report fully thereon should be, appointed, as the Treasury had not the facili ties to do so, and I had, act the time owing to other public engage ments. I would like to add that there was no reflection on Messrs. Price, Waterhouse and Company or on any of the other firms of auditors acting for several of the companies to whom guarantees häd been given, in the appointment of an independent accountant,
Mr. Pritt-Who was selected?
who should be invited to undertake Lord Plendor-The question of
the task was then discussed, and after very careful consideration of various persons, Sir William Mc- Lintock was agreed to, and was asked by the Treasury to take up
the matter.
Lord Kylsant was informed of that appointment and quite, ne- sented 7-Yes,ho was informed in December, 1999, and the at once
TOURIST CABIN
...
The service offered by the N.Y.K alone on its North-Pacific route to Canada and the. United States, Travel once by the Tourist Cabin, and you'll come to like it for ever. simply because the ships are models of cleanliness, comfort and sea-worthiness. And yet, mark the rate,
Hong Kong to Vancouver Victoria, Seattle or Tacoma
G.$145.00!
COMFORT & DISTINC TION ON SCHEDULE N.Y.K. LINE
The prosecution then withdrow Lord Plender's evidence, the Lord Mayor remarking, "I am very scrry, but it is not my fault."
Lord Plender was about to leave the witness box when Sir John Simon said that he wanted to put
pay, new perfectly well what connected with building and "real
was being done by Lord Kyisan said that every facility would to a question to him. and that he acquiesced in the afforded to Sir William in his The Lord Mayor-I do not know estate" are doing well.
course of conduct that was being task, and be desired him to have that you can now that his evidence Another aspect of this building pursued, and signed a statement a completely free hand in his in- is withdrawn.
quiries. Sir William took up the matter immediately, and at the end of February, 1930, and during the two following months, he made his reports.
at the foot of the balance-short that
it gave a ccrrect description of the
company's position.
Bir John-But he has sworn,
term fold reserves," and Sir Wil- liam said that it might be quali fied by describing them as reserves" existing before the beginning of 1020.
Mr. Pritt The figures of the
reserves show that in 1990 £62,500
were brought in, and în 1927, £25,250 were brought in.
'Sir William-Yes. *
Did the company declare a divi- been idend which absorbed £53,000, oach
year t-Yes.
The Lord Mayor-1 am sorry, Sir John but I cannot allow it,
activity amazes me. So many of the
houses have a value of from £830 to £1,000. They are being as quired on the hire purchase system, through the building societies.
The Lord Mayor addressing lead, They are healthy homes and thereing counsel in the caso, said: "I are so many of them being built have given the most earnest con- or occupied...
sideration to the manner in which atruction of some of the companies It was to ask him as to the reputa and in 1927 trading profit of
Were there proposals for recon-
Sir John-I will tell you the question I desire to put to him.
Sir William said that the two companies, commonly called the Nelson Companies, made net trading profit in 1920 of £80,229,
tion for probity of Lord Kylsant. 238,113.
ment of £52,000 net, and in 1027
he had been placed now its a posi- payment of £6,142,
Sir Patrick Hastings said that they paid dividends involving the
tion of grave difficulty respecting the possible cross-examination of amounting to £200,000 from the They also declared bonuses.
Lord Plender.
Nelson Steam Navigation Com hany, and £100,000 from H. and W. Nelson,
the charges should be taken before which were discussed at some The Well Fed Unemployed.
The Lord Mayor-You can call In 1923 the two companies de- mc. There are three charges length 7-Yes, there were proposals him later if you like as your witclared dividends involving the pay. You hear people talking about against Lord Kylaant, and Mr.mado by Lord Kylsant as to res the increase in unemployment. The Morland is alleged to be an acces-construction, and Lord Kylaant "dole is a constant topic of con sory in two of them caly. The asked Messrs. Price, Waterhouse, versation. Like everything that prosecution desired that all the evi and Company to prepare a scheme. exists in England it is a com- denes should be taken together. Lord Kylsant very kindly gave to promise. It is not charity, but it Counsel for both defendants urge the Treasury and to me a copy of is not a thing, a man or woman is that this would be projudicial to all their reports. proud of accepting. The great com their clients and submit that only plaint of the critics is that they, the evidence of the two cases in the critics, have to help pay to which both defendants are concern keep a man who ought to be worked should be heard first, ing and earning his own. keep.
It seems to me that there are so many critics of the "dole, many people on the look out. for cases of abuse of the system, that there must be some exaggeration in the statements of the opponents of the system.
...
#
The Lord Mayor-You appealed Sir John Simon here rose and to me that the evidence of Lord
said that he was sorry to interrupt, but was this evidence?
The Lord Mayor said that he "The three charges against Lord was afraid a great deal of it Kyleant are under the same secwould not be. tion, and I understand from, the
Meetings at the Treasury. poning that some of the facts are have therefore come to the opinion ing was held at the Treasury on common to the three charges.... 1
Lord Flender said that a meet
that the Crown are entitled to May 7, 1930, at which it was decid- present all their evid nce as ed that reconstruction was not a whole before I come to any deci-practicable proposition. It sion."
then arranged that a meeting of bankers, bill holders, and creditors of companies in the Group should bo hold on May 10, so that the position might be put before them. bigg might be
this point
Sir Patrick Hastings asked the Lord Mayor to rule that none of the evidence of
LORD PLENDER.
W49
Flender was not evidence in this, case. Strictly, in law, I was of liged to agree. You cannot have your apple and eat it.
Sir Patrick-I have never known a case where the prosecution, have called & witness, and then said that they did not want to ask him any thing relevant.
In 1920 there were transfera from reserves amounting in all to £186,859, and nothing in 1927.
Mr, Pritt-With regard to there bonuses of £300,000, they were cre dited in the profit and loss'account of the R.M.S.P. for the year ended December 31, 1927-Yea
"Bir William said that in Decem Lord Plender's evidence was then ber, 1927. bonuses were declared by forinally withdrawn,
the two Nelson companies, and the SIR WILLIAM MCLINTOCK. ques were issued to the R.M.S.P. Sir William MeListock Was Company, the only shareholder et then called. He said that he was both companies, cheques being for head of the firm of Thomson, Mo£300,000 in all
The results of the "dele" are apparent. There is now no real poverty in England. We visited the docks twice to remove our baggage. from the steamer. On each occa sion we enw a line of unemployed waiting for casual employment. They were all well fed. They were chartered neccuntant.
Lord" Plender, the well-known decently clothed, and their children
gavovi were at school.
dence, and, in reply to Mr. Pritt, Somebody said to me that one said that under the Trade Faci able-bodied man out of every four lities Act, certain guarantees were my England is unemployed. And given to various companies in the my answer was this: The other B.M.S.P. Group. In the latter Lord Flender was evidence of any certain cther companies as well, shares 500,000 were paid up in full.
over the style."
The Hours of Leisure.
three seem to bo prosperous and. strong enough to help the lame dog part of 1929 requests were made to the Government for the postpone ment of certain guarantee obliga- It is the change in recreations tion the repayment of certain that strikes me most. This wireless loans guaranteed by the Govern business simply astounds me. While ment these words are, being written in London my portable act-it cost nine guineas-is talking to me with a voice that is speaking in Paris. At any time, almost, we can get music or words from Eng- land or the Continent.
Mr. Pritt: In these discussions who acted for the companies in the R.M.S.P. Groupi
At
Lintock and Company, chartered During December, Sir William accountants, of Queen-street, EC. continued, the R.M.S.P. Company Early in 1930 be investigated the applied for a further million shares affairs of a number of companies of £1 each in the Nelson Steami known as the R.M.6.F. Group, and Navigation Company. Of these
A
ין
thing at all affecting the charge, for the years, among others, 1996 The remaining 500,000 shares were paid up to the extent of 2a, per and that no part of it was admisud 1927. Bible.
The R.M.S.P. Group, he con- share, making £50,000, so that the Sir John Simon said that he took tinued, was only part of the total R.M.S.F. paid to the Noleon Steam the same objection.
group which was controlled by Lord Navigation Company £350,000 in Kylehnt, and when he referred to all. The Lord Mayor said that he the R.M.S.P. Group be meant the This, he said, was found to the thought the evidence had been given Royal Mail Steam Packet Company extent of £300,000 by the bonus is in order that he might understand and its 100 per cent, subsidiaries sued. The Royal Mail Steam what had led up to the charge. He only. They had a total issued Packet Company then sold to the had only taken the evidence as capital of £8,800,000.
Nelson Bteam Navigation Com- introductory. "Otherwise," added A discussion, arose as to whether pany for share capital of H. and the Lord Mayor, "I should have the report of Sir William McLin- W Nelson, £230,000, and by this to rule according to the objectock of his investigations should means provided, the whole of the tion. adent
bo made an oxhibit
new capital subscribed to the Nel- son Steam Navigation Company, Not a Private Uompany. !! There was a breeza" "between counsel when Sir William MeLin teck anime to give evidence of the
Lord, Flender: Lord Kylsant. Whe advised the Government in Everyone (has...n act. The bus conductor and the stockbroker and respect of its guarantees -I was an evening's entertainment at their asked by the Government to advise own fireside. Their wives listen to them.
talks while the men are at work. The children are eager for the hour
Mr. Morland was still assisting Lord Plonder-May I make this Bir Patrick Hastings said that when the broadcast is for them.the Government in certain matiere | genoral observation as to why I he had no objection to this to the "It is a splendid gift to demo in connection with the Trade Facili appear here! I appear on sub-landing in of the report provid cracy. It is so cheap. A whole tier Act, but as a member of Price, poens, served by the Director of ing Sir William did not go through family can be entertained every Waterhouse and Company, who Public Prosecutions, with Lue ob all the details again. He thought evening at a cost of about a perinyt
-night. They hear the voices of were hoting for some of the Jout ad I understood 3 of emerely the great leaders in politics, art, RMS.P. Group, he did not inter narrating the steps which led to science, literature and music: "Not|| only does wireless entertain daily vene in this matter at al-That Sir William McLintock's appoint millions in England. It also makes is so..
mont, That makes my position their think, zato je p
Asking for postponement, Lordaear
Take this example, Yesterday,
at the garage where my car is Kylsant naturally put before you sheltered the mechanic asked me a great deal of information about quite a number of very intelligent the companies involved!
-questions - about the British in
ان رایدها
China, Have you got some reason Pult Report. lative out there ?" I enquired.
Evidence Withdrawn.
The Lord Mayor (to Mr.
Do you withdraw all the evidence
"Oh no!" he answered, "I heard Lord Plender-Messra. Price, given up to now?
༄° f"!
that this would wife time affairs of the Pacife Stars Navh,
The Lord Mayor said that it was gation Co,
not a question of saving time. They Mr. Pritt-In 1923 the company's do everything possible tonecounts showed n less on the chicidate every point in the case year's working after charging de They wanted complete evidence repreciation of £183,755 garding the allegations made by Sir William On dear no. The the Crown company's account did not thow a Sir William, who stated that he loss, but I say that after charg- was not there as an expert witnessing depreciation there WLI>B but to speak of the report he had The account shows a prolit made, continued his bv depos♥ | Mr. Pritt-I don't want to mis- He stated that the trading a lend anybody, but the company's accounts for that year show a profit of £60,5394; dende
a feller talking on the wireless Waterhouse and Company supplied Mr. Pritt--If your Lordship count of the .M.8.P. Meat Trans about China and he made me won-13 detkiled statements. The Tren- plenses, der, win flame
When a man begins to wonder huts and I felt chat to get a com- The Lord Mayor-We cannot get about any subject he invariably niete and concito view of the Royal way from the fact that there are Tearns something about it Cario Mall position with all its inter Borions criminal chargos, and, thore-
ity is very neat to the beginning! AKAROMA C *of wisdom:
looking interests someone uncon- fore, the ruler of evidenon, abould (To be Continued.)
nocted with any of the shipping be kept to da closely as possible.
port. Ltd., after charging deprecis balogantiam showed a trading loss in 1996 The Lord Mayor-Aro welto have
of £21,045. In 1927 there was a balance sheet put in tailgate trading profit after charging ds. Mr. Pritt-At the moment we preciation" "cf" 126 657 The cuner have not got a balance que ↑ 1
old reserves for each of these years; i tion later,
any had brought in transfers from to promise something in that direc
Sir John Simon objected to the The Court" thon adjourned.