*12
DAILY SHARE QUOTATIONS
Hong Kong Stock Exchange
A layak Bellero Južno Ni
i⠀ ti!
+
***
11,060
£102
£14)
931
£14
$73
3956
3630
144
$462 3950
**
13
136
$30
$AU
7jcts.
£4 ota,
#
SATURDAY,
JULY 4.
Banks
EK. Bink
HONG KONG DAILY PRESS, MONDAY, JULY 6, 1936.
THE NAVAL TREATY
Sharebrokers' : Association
Do (London).4)
Chartered Banks
Mercantile Bks "A"
Do.
Bank of East Asia...
N. 0.8. Baŋkɛ ...
Insurances
Canton Insuranost...
Underwriters
CROMA
Union Insuranoën ....... China Firestar H.K. Fires..datepe
International Assos, 8.
Shipping
Dongisten svarení Steamboat *****
Indos (prof.).
Do. (det.).
25/7) | Shells....................
Burora Batiere
*!!!!!!
MILI
100
Balms Mamin.
1,582) £109
£14
231
214
$73
A
***
$756 90 sta $15 $457 $250
ኣነ
·
**
130.
151 $30 $80 93/0 112 20
Waterbante
Mining
M
$5.10
Amtamoks
25.10
391
Balatcos
$18.40
Baguio Gold 20 cts. 31 cts. 30 ota. Bengust Consolidated 118
י.
Do Exploration 28 fot. 30 ct.
Big Wedge 53 ets. 55 ote. 54,55 ot Demonstations...... $1.07
Parcels Gumaus... 88 ots. 8 ct..
Gold River... ...... Jct.
Gold Creek......... 20 s
36 ct Northern Mines
87 cta.
United Paracoles... $1.21
12 cte.
Sulacots * ***
Itogons
$1.15
$2.10
THI
19 cts.
66 ats.
82.17
$1.98
11/8
IX.L.
Kuilneus
Masbate
Explorations..... 8.
80 cis.
$0
vr<vt
124ot
I d
$2.10 11/6 59
79 eta. 12 70
Langkala (single) 8.
Shanghai Loans 5.
$10 $1.21
Raubs......
$2,30 $102
San Mauricio ... ... Venezuela Gold Fida.
| $1.13°
412
Docks, Wharves,
Godowns, etc.
H. K. & K. Wharton.
$88
$58
Do.
(old)
Do (new)!
$1.05
Providenta (old) ...95 cts.
20 ut.)
Dio. (new)...
25 sta
รบ
H.K.&W. Docks $104
S. China Motor' A
310%
34
New Engineerings,
$185
Hongkows
Shangnai Docka S.
Lands, Hotels, and
Buldings
Metropolitan Lands...
H.K. Healties.......
Cotton Mills
3105
14.10
*
36.55
$8.40 $74
M
$39+
#14
$28
14.55
H.K. Hotels
$30
$100+
113
By | 14,45 14.50 H.K Landa... 30
Do. 4% Debentures
par Shangun Landa...8.
310
ม
· $4"
China Do...S.
380
Do. Debentureas.
16.05
Humphreys
$80
Chinos Estabas.
Ewox
S.
$70
Shai Cottons(uldjS.
$39
Do
(new.
$18
Zoong Singa.S.
$25
Wing On Textiles(S.)
Public Utilities
$101
10.35/201
Tramway......$10.10
Peak Tesin (old) |
522
До (LW)...
#901
Star Ferrica
387
$20
Yaumati Forries
$10
China Lights (old)....
Do.
(now)...
360
H.K. Electries ...........
$181
Macao do.
$8.30
$25
Telephones old)
sit
Caine Buses.....S.
38/8
231.
Do. (prof.)......
Industrials
$90
Malabon Sugare
เ
$19,
Caldbeck, (ord) 2.
$15
Macgregors (prof.)8.
all
Canton Ice........
$11
J.20
Gemvats
$3,80
$19.40
13
$12
:30 ôta.
$5,90
$3.36
$191
$2.30
$12
30 ots
***
381
Saudskou Ligut...
Do (new)
Tractivas 30/
Miscellaneous
$3.50 Ropes .................
品
Dairy Farms.......... Amusementara se Ch. Etsinment....... Constructions, (old))
Do.
(ΑΘΗ
Lane Crawfords......
Mackintoahs
Nanyang Tobacco...
$1.50 Sinceres....wa $3.45
Watsons
40 cts. Wm. Powella.........
12
M. Greyhounds.
8. C. Enterprises
8377. Ch.G.621925 G.Bia.
37
What Is The Practical Value Of It?
By SIK HERBERT RUSSELL
man Davis said that "some things
ENGLISH AS THE LANGUAGE OF THE PIPE SMOKER
Berlin, June 11. The English language is the only one in the world that can be spoken with a pipe in the mouth.
With a minimum of that serl-, gun, calibre of 14h, in new battle-
So comments a Berlin newspaper meny which appears inevitable in snip construction. If there had correspondent in an article de- any debate in the United States been more of this collective pledg-scribing how he bought a pipe in Senate in which Great Britaining. It is pretty certain that the London. ngures in any shape or foțin, the Admiralty would have going little | "Many people even assert," he London Naval Treaty has been, if anything, beyond 25,000 tons $238. "that it sounds best of all ratined at Washington. Mr. Nor- and 12in. guns and banked upon
when spoken like that. If it were the other countries responding to not generally known that English the United States wanted were not such a sane example. Germany, was invented before pipe-smoking. in the Treaty, but there was 20- free to do absolutely as she pleases, one might suppose that the latter thing in 15 to which this country is satisfied with '26,000 tons, and
were not without Influence.on the Adml. objected," and
Standley 11in, guns, but she may not re-j formation of this language. thinks it is sufficiently satisfactory main so if the other leading sen
**The Englishman," Says the that "Great Britain is not allowed Powers' mean to go much beyond writer. "as with everything he's to have cruisers superior to ours,
these limitations. In the cruiser fond of, makes a special cult et his nor guns superior to ours, and she category a deduction has been ef-
pipe. has not got them.” As a member fected for the period of the treaty: of the American delegation to
8,000 tons displacement and 81 London, none knows better than
guns now being the upper limits. Adml. Standley that Great Bri-But the defect of this new treaty cain never wanted to be "allowed" is the defect of the League of Na- bacco shop will soon realise with cruisers
tions; it is only sectional.. Sup- this conception he has made a nor guns "superior" to
pose Japan elects to build super-reat mistake. those of the United States, all the efforts of the British representa-battleships with stupendous guns. tives being directed towards re- I do not imagine she contemplates duction of the maximum in ton-anything of the kind, but after the
"In one street. for instance. I nage and weapons which the end of this year she will be at Americans showed
perfect liberty to do so should she simply wanted to buy a little to- reckoned that 10 luctance to abate.
choose. How long is it to be sup-bacco, and
so much
re
"We ordinary Europeans regard pipe-smoking as a comparatively simple affair. But anyone who goes into a real old London to-
ONE HOUR "IN TOBACCONIST SHOP
The 1935-36 London Naval Con-posed that the United States would minutes would sulce. But after
be content with upper limits of 35.000 tons and 14th guns if the country on the other side of the Western Pacific laid down ships of 40,000 tons and 18in, guns?
must
an hour I left the shop with a new pipe, three special packets of tobacco, a box of snuff and a mass of, new Ideas which will remind me till the end of my days of what a barbarian at pine-smoking I had hitherto been.”
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Ierence has resulted in a Three: Power Naval Agreement, Japan stood out for clearly stated rea sons, and, although she is in no way bound to anything, it is more than likely that she will generally follow the detalled limitations for
Whatever may be the merits of the various categories, probably these international maval agree-
Commitlee evidently think in ex- with a general tendency to keep ments-and the ease with which sists of minding everybody else's pressing the view that the ratifice- under rather than to go over them, they can be denounced at CO4- business and encouraging every-tion of it "can do no harm." In As far fact, it simply comes to this; our Italy assumed a pose of injured venlence leaves a haunting sense body else to mind cur own. Innocence; played fast and loose or futlity—it is unfortunately in as I can see, there is one definite paternal and fraternal Government with the conference, and
evitable that they give rise to a point of advantage in the latest made up its mind that there must have been a good deal chagrined certain amount of friction. Thus, naval treaty, and this is the fixing be a Naval Conference, and, in view to discover that so far from be- when, as I have already quoted,
0 maximum limits to the dis of the 'manifest impracticability of ing disconcerted by her peevish-Adml Standes speaks of what placement and armament of varig approaching any of the subjects ness, the other delegates display- "Great Britain is not allowed to
cus types of, warships... This, at which really matter, the only thing ed a bored indiference to all her have," be, "quite unintentionally any rate, eliminates any risk of in-, to do wES to try and Impose a "reservations" and refusals to do I have no doubt, produces a feel-
sensate competition; of the build-solemn, importance upon. sheet anything more than air her grieving of irritation over here. That ing of naval "Queen Marys" which, trivialities. It is rather a pity that no doubt there are plenty of peo- the British Navy should be the ances. She may or may not ulti- the British Navy should only be mately patronize the London Naval "allowed" to fulfil its own require-ple to think would be a very fine pawn of such a farcical business.
thing to do. But for the rest it is Logical reasoning seems Treaty, but there is not the faint-ments by the consent of any other
to And est feeling of suspense in conse-country is a position so allen to
all pretty grandmotherly stuff, as precious little place in our present. centuries of tradition that when the Americari Foreign Relations day diplomacy. At the very time quence of her deferred decision.
expressed with such directness, the URAZE FOR "COLLECTIVITY”
result is bound to be Instincrive re- What does this latest Naval sentment. I can quite believe the Treaty actually achieve? If any same sort of tung occurs on the one definite incident were neces- other side of the Atlantic. The sary to give a final "conga" to the bulk of American naval opinion tong-moribund Disarmament Con- | favours the 18in, gun, and the ference, this was provided when sacriäce of this to the British view
is one of "the things we wanted,
Japan announced that she was breaking away from the Washing- but did not get" referred to by ton Naval Treaty. That step abso- Mr. Norman, Davis. It cannot con. futely finished, all idea of disarma- duce to a still more friendly feel- ment, or, more correctly, of inter-ing for the Americans to be told national mitations of armament. that "they are not allowed to have" $19.10
There remained the question ora 16in, gun because of British op- $:0.60 $7.35
"upper limits" to the displacement position, which, of itself, is enough 1004 and artillery of ships of different to make them more urgently want categories. Under the terms of u 18in. gum. Probably, this one $25.10.the former London Naval Treaty point somewhat qualifies what I a fresh Conference had to be call have said about the treaty "bind- ed during 1935, and a new agreeing the signatories not to do what ment arrived at, otherwise the ex-they would not have done in any Istent treaty restrictions would case, but, human nature being have gone by default. The British | what it là, I do think the American Cabinet, with its current.craze for Navy Department would have "collectivity," could not bear the found a 14in." gun quite big enough idea of default. I doubt very much had there been no restriction at whether any other of the great all. So little, in fact, do agree- naval Powers would have raised a ments of this sqrt, which involve finger to prevent it in the face of A serine of concession, really world, affairs. After taking sound-amount to "collectivity" if this ing. In the form of "preliminary word also involves unanimity. discussions" in 1934-not wholly
DECLINE OF BRITISH 'NAVAL encouraging the British Govern-
STRENGTH ment "took the lead," and invited four Powers who had taken part in the former London Conference to come and do it again.
$1.80
the other
Now it seems to me that if there
naval treates, it les in the fact sany real merit at all in these
of developing a more friendly in-
enter into them. A country would timacy between the nations which
I do not want to go back over recent history, which is both fami- be scarcely likely to arrive at s
13.10
50 1,
$1.38
31
917
prem.
H.K. Gorb, 4% Los.18
Do.
3107
$102
Wallace Harper...............
lar and fresh in memory. The real point is what is the value of this new agreement? In passing
$50
K Wing O......
B'bal Do.
#34
$24
CHENGTU
Vibro Pileng
CHUNGKING
RAILWAY
A small are broke out yesterday on the north side of Stonecutters Island: Two contractors' mat- sheds were ablaze. The Are was soon under control, no, extensive damage or casualties being report- ed. A fire float was dispatched to
con-
concessional understanding cerning its armaments with a
crusted.
it on to the American Senate for country which it disliked or mis- Talification, the Foreign Relations
But, honestly, I cannot Committee expressed the flew that believe that any such result has there can be no harm in ratifying
attended the experiment. Since
it, as there is nothing to lose." the signing of the 1930 London This scarcely amounts to a congra-
Naval Treaty the British have tulatory assessment.. No three used an uneasy and growing Powers could have been chosen ly to facilitate the American claim sense that they were "done" Bole- between which the probability of to "parity." I think we were "done" naval rivalry is less than France. on that occasion, but the fault Great Britain, and the United rested with Labour Ministers, for States. In effect, these three
I certainly should not blame the Powers have agreed between them- theChengtu-Chungking Railway taken by the Schewan-Kwelchow selves not to do what there is not Americans for getting the best of the least reason to suppose they did this treaty help towards better the bargaining. The point is how will be started as soon as the sur-Railway Company. veying work, now being feverishly
With a total length of 523 kilo-would have done had there been no relations with the United States? pushed, is completed..."
| meters, the projected ine will link agreement. Burely, there is some- Negotiations have been conclud-up Chéngtu with Chungking, thing just a little ridiculous in the And if it did not do that which on. our side I am pretty sure It did not
of
Chengtu: Forming a part of the the fire. reconstruction programme Szechwan,
the
construction
ed between the Szechwan Provin- passing through Chienyang, Tzu- spectacle of three great nations, all then there is really nothing at A. cial · Government and the Chinayang, Tzuchung, Netxiang and perfectly friendly, solemnly coven-all to its credit. How much there. Development Finance Corporation Yungchuan, in the central and i anting not to do what they never is to its discredit has been only too for a $1,800,000 construction loan richest section of Ezechwan The intended doing.
to be secured on the Bzechwan re-hardest part of the engineering construction bonds for 1936, part work will be at the mountainous i
JAPAN'S POSITION
of the Balay Reconstruction Yungchuan - Chungking section, What, then has this treaty
effectively demonstrated by the. serious decline of British naval" ac-strength during the past six years.
Loan and the revenue of the where a 800-meter tunnel will,complished? It binds the signa- I fear I shall want a very great railway itself after completion have to be built."" Construction work will be under- Central Nedy Agency,
tory Powers not to go beyond a deal of couverting to appreciate displacement of 35,000 tons and a the modern diplomacy, which con-
I've tried
most brands of cigarettes
in n
time-now
my I've settled down
to Craven
because
A
Vary!
never
They
IN #EASY-ACCESS' INNER FOIL PACKETS, ALSO. IN "TRU-VAC” #50" TINS"
When we sat the TRU VAC. Kids TIN the FACTORY- PREHNESS of CRAVEN"'A"" in securely imprisoned until the seal is broken by pulling the rubber medica cuilets; 194 jagged edges.
Remember
Cuticu
uticura
SOAP
MEDICINAL TOILET
when we are being confronted with the worthlessness of international agreements by the convincing met- hods adopted by Mussolint and Hitler, our statesmen think the moment ripe for traming-up & new one. At the very time the British" Government has been forced to the conclusion that we must spend £300,000,000 upon "looking to our most" they think the moment is opportune for a new lap of tying ourselves up in more knots, presumably to convince the other nations how sincerely we re- gret lapsing back into the com- monsense posture
of ensuring security in a strong defence.
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CHAVEN
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1.5