EXCHANGE:
Closing Quotations:——
TT London 3s. 3d.
On Demand 95, 3.3) 6d.
8156
The
Hongkong Telegraph.
(ESTABLISHER
1881).
SATURDAY, JANUARY 25. 1919.
日四廿月弍十
EARLIER TELEGRAMS.
THE BOLSHEVIKS.
FILLAGING ON FINNISH FRONTIER,
Stockholm, Jan.
HONGKONG TRADE.
六拜禮 號五廿月登英港香
BOLSHEVIK FINANCE.
EARLIER TELEGRAMS.
THE PEACE CONFERENCE.
PROPOSAL REGARDING RUSSIA.
London, Jan
The Ministers have resume the examination of the Russian question. President Wilson read a proposal which will be discussed this afternoon
Later.
A Peace Conference communique says the represents tires of the Ave Great Powers approved of President Wil- son's proposal which emphasises that the Associated Gov- ernments sole desire is to help the Russians and not to interfere with their internal concerns. It reiterates friend. lineas not enmity towards Russia and declares a wish to" alleviate the present conditions and assist in the restora tion of order. It unreservedly recognises the revolution and proclaims no intention to countenance counter-revolu- tionary bodies. It recognises the impossibility of Europe and the world being at peace while peace does not exist in Russia. The Associated Governments recognise and accept it as their duty, therefore, to serve Rassis in this great matter as generously, unselfishly, thoughtfully and upgrudg ingly as they would serve every other friend and ally, and they are ready to render this service in the way that is most acceptable to Russia. In this spirit and with this pur pose they invite every organised group now exercising or at- tempting to exercise authority and military control in Siberia or within the pro-war boundaries of European Russia, except Finland, to send three representatives for each auch group to Prince's Island, in the Sea of Marmors, where they will be met by representatives of the Associated Powers, pro- vided a truce in the meantime be proclaimed among the parties invited and provided all armed forces sent against people or territory cutside pre-war European Russia or Finland or anywhere where autonomous action is contem- plated under President Wilson's fourteen points, are mean- while withdrawn. The object of the aforementioned repre- sentatives' meeting is to ascertain the Russian wishes and arrive at an understanding whereby Russia can work out her awn purposes and happy co-operative relations between Russia and the other world peoples can be established. prompt reply is requested. It is stated the Allies will facilitate the representatives' journey across the Black Sea and expect all parties to give similar facilities. The repre- sentatives are expected at the appointed place on Feb. 15.
The communique adds that the Plenary Conference on Jan. 25 will discuss the League of Nations on the basis of Mr. Lloyd George's proposals.
THE PLAN APPROVED.
Paris, Jan. 3
A
The Russian Ambassadors now in Paris conferred with M. Sazonoff regarding the decision of the Supreme Counsil to send a commission to Prince's Island to meet the Russian parties. They decided to urge their friends in Rassis to support the conference plan.
PÓLAND'S POSITION.
Paris, Jan. 23.
A communique states that the Powers have decided to send a commission consisting of two representatives, "ona civilian and one military, to Frince's Island to meet the Rassis envoys. A similar mission will go to Danzig to meet the Foles
it
A communique from Paris (Jan. 22nd.) says that the Supreme War Council considered the Polish question, con- aulted with Marshal Foch and decided to send two delegates, one military and the other civil, to Poland immediately.
DOUBTS EXPRESSED.
London, Jan. 93.
While the Allied Conference's decision regarding Russia is welcomed in Britain as raising the whole problem to a lofty plane, and as a noble example of the Conference's impartiality, some doubt is expressed whether the plan will Bot antagonise various anti-Bolshevik Governments in Bus sia. The French newspapers generally condemn the decision so far as it applies to the Bolsheviks. -
Bir Douglas Haig and Mr. Churchill have left for Faris.
OTHER MATTERS.
London, January 23.
A public plenary session of the Conference will be held on Jan, 25 to discuss the League of Nations. Mr. Lloyd George submits a proposal consisting of a few short clauses in general terms. Then President Wilson submits a plao, drafted after conversations with M. Leon Bourgeois, Lord Robert Cecil and General Smuts, all of whom will probably speak Finally a special League of Nations committee will be appointed to study the question thoroughly.
The Conference will also appoint an Indemnities Com- mittee to determine the amount of damage the Germans bïve done and the amount of indemnities payable by Ger- many, and define a possible method of payment.
AN INTERNATIONAL COUNCIL.
Paris, Jan. 22.
Lord Robert Cecil, the head of the League of Nations section of the British delegation, conversing with British journalists, considered that the world had not yet reached a stage at which "an absolutely rigid system for the preservation of international peace could be organized. Even an International Tribunal with absolutely binding powers was at present anworkable. He foresaw the crea tion of a Council in which, as in labour disputes, influence and conciliation would be the peacemakers' main strength. Buch a body should possess suficient internationally guar- anteed power to be able to prevent surprise declarations of war and compel disputants to accept delay in order that a posceful solution might be propounded.
Referring to the constitution of the Council of the League, he considered it should comprise representatives of the great nations, not diplomats but influential mem- bera of each Government, sitting regularly, No treaties should be passed unless conforming to League rules
He pointed out certain existing international organisa tions that already existed thus the Posta, Telegraphs and the pre-war Danube Commission, and RhineTM Convention, even the Internatiqual Labour Organisation. It could easily be seen that certain waterways, and towns would henceforth have to be internationally controlled or free mocess to mind States guaranteed. Certain nations would be strongly interested in free access to Balonik“. The most important cake was the Dardanielles and Bos
phorous. -These examples of necessary international agency to a new international organisation whose be the welfare of the nations of the world;
2
A message from Heisinfors says that the Russian Red Guards are attacking and pillaging on the Finnish frontier.
EXAGGERATED REPORTS.
Amsterdam, Jan 22- The Koenigsberg reports of armies of millions of Bolabe vista marching on Germany are exaggerated. "The line not more than Riga-Dvinsk-Filos has been crossed by 50,000 Bolshevist troops.
BRITISH FORCE THREATENED.
London, Jan $3.
Beater learns that the Bolsheviks are reported to have captured Orenburg. If this is correct it is unfortunata, as it increases the diffinities of the Russian Siberian army and threatens the British force in Transcaspia. The main Bokhevik force will now be able to advance along the rail- way south-eastward from Orenburg.
LABOUR DIFFICULTIES.
London, Jan.
The Ministry of Labour is drawing attention to the difficulties that have arisen in connection with the forty» seven hours agreement in the engineering and, shipbuliding trades and has arranged conferences between the Employ- ers' Federations and Trade Unions with a view to settlement
EASTERN TELEGRAPH COMPANY'S 'LOSS.
London, Jan. 33.
Mr. William Hibberline, one of the administrative heads of the Eastern. Telegraph Company, who has been in the employ of the Company for nearly fifty years, died anddenly in his office to-day from heart failure.
FEDERATED GERMAN REPUBLICS.........
London, Jan. 29.
It is announced from Berlin that Germany will be divided into a Federation of sight Republics, headed by Greater Berlin, with population of ten million, the others being Praxia, Silesia, Brandenburg, Lower Saxony, Westphalia, Hesse and Rhineland. A Federal State of German Aus- tria, will also be established.
AN IRISH OUTRAGE.""
London, Jan. 99.
Two constables escorting a cart containing gelignite in Tipperary were shot dead by masked men who leaped the fence, shouted "Hands up?" and fired. They stripped the bodies of their rides and ammunition, drove off in the cart and disappeared;
THE GERMAN ELECTIONS.
Amsterdam, Jan. 22.
The following are the results of the German elections as far as known on the afternoon of the 21st.-Christian National Peoples' Party, 57 seate; German Peoples'. Party, 14; German Democrats, 38; Majority Bocialists, 339; La- dependent Socialists, 22.
ch
Amsterdam, Jan. 1.
A message from Berlin' says that the returns up to last night were: German Nationals, 33; Christians, 80; German People's 22; German Democrata, 74; Majority Socialists, 180; Independent Socialista, 23.
Badek has reappeared.
THE SINN FEIN PARLIMENT.
London, Jan. 23. The Sinn Fein Parliament in secret session yesterday appointed a Premier and four Ministers whose names are not disclosed.
(Continued on page 10.)
CHAMBER OF COMMERCE REPORT.
The fortnightly Price Current) and Market Report, published by the Hongkong General Chamber of Commerce, stalen --
COSTLY EXPERIMENTS.
WEATHER FORECAST.
RAINY.
Barometer 19.03
**
Temperature 3pm. 10
A special correspondent of the Daily Chronicle writes
Humidity
2 p.m. 88
SINGLE COPY: 10 CENTS
$56 PER-ANNUM.
BANKING IN CHINA.
AN AMERICAN VIEW,
International Banking Corpora Walker, late manager = me the
When the Bolshevika "settled down as the ruling class in No-article which appeared lately in In the course of an interesting rem ber 1917, and began to recast the New York Magasins of Wall the financial system, their first Cotton Piece Goods and Fancy step was the repudiation of faro Street, Mr. Oria De Moste Cotton Goods During the in-lo This mostly hit the hol terval a fair enquiry has ariteaders of Russian kans abroad. su a small business at advanzo-
tion in Peking, mid : Owing to the firm conviction
The kind of an American ing rates has resulted. Dar Market is decidedly firmer and were not destined to remain lung the Far East and in China of the public that the Bolsheviks bank which is wanted in prices have improved generally in power, there was no panic
Nevertheless they are still very when the banks were nationalised 10 particular is one which
values.
and
considerably below replacing on December 28, 1917. All man engages in commercial business
which balieres în direct business; Cotton Yarn-In the early part their posts.
agers, however, had to resign which wants Chinese business of the fortnight ruled firm and a
By reason of the Bolsheviks and will cultivate the Chinese; fair number of bales was sold at
which will make silver very rudimentary knowledge of owing to pressed sales, rates have reserves of all banks as well as and will be prepared to finance almost previous rates, but latterly, finance, having appropriated the exchange speculation secondary to legitimate trade transactions private accounts, they expected to American trade; which will business is being done at a find an enormous amount of decline of $2 per bale. Quota ready cash; instead of which, tions are:--No: 103 at $190/235 they found only drafts on the reports and not No. 128 at $200/220. No. 168 Imperial Bank of Russia.
$230/243. No. 20s at
become weaker and a amall
悲喜
$230/248. Arrivals ail Spot |
sales 2,000 balea.". Shipments
give Americaa business fair credit discriminate against it; which will compete with the other banks, and makė Loans upon the same terms and The next financial experiment collateral, which is courteous and
ANNULMENT OF LOANS.
inil Unsold stock 6,000 balas of the Bolsheviks was the annaobliging to clients; which will do
ment of all internal loans, war business upon a business basis Bargains 10,000 balea.
Raw Cotton. Prices declined loans, debentures, and stocks and which is American in spirit about $2 per picul-Chinese deshare transactions were prohibited personnel and in policy. Au shares in general. All stock and
and above, all American, in cription $43/53 per picul. Indian under penalty of heavy fines, and American bank operated upon grades 40/50 per picul. Market the payment of dividends was this plan will have no competition
Woollens-Although
suspended. Consequently the Stock Exchange de jure and de in China. In considering direct goods seem to be reviving some-facto ceased to exist,
Chinese business the moral bazard what, this is not reflected in the
bare of stocks.
cotton
Nationalisation of banks hav-must not be overlooked, but there market for woollens. The exing failed, as all thair previous is probably no country in the ceptionally warm winter we are "reforms” had done, to provide world where the moral risk is [having has enabled natives to do ready cash, the Bolsheviks had lower. It is the custom of the
without warm clothing. The whole trade is in a poor way and all private strong boxes examined country thaton Chinese New Year very disappointing.
and requisitioned all the gold every obligation sad debt must Sundries and Coals-On so they found. Ready money and be paid, and no Chinese firma or count of small arrivals and of valuables exceeding 25,000 roub individual will spare any effort,
158 farther advance in the cost of raw
per person were held to be even to calling upon the mem- bars of his clan to raise the neces national property, and jewellery, materials in the producing count-after valuation, was taxed in aary funds to liquidate his in- ries, tha local market has
some cases at a third of its valce responded correspondingly in which sa a rule was highly
debtedness.
THE LANGUAGE DIFFICULTY. It is strange but true that none -
foreign banks in All legacies exceeding in value of the
spite of the fact that all imported over-estimated. merchandise has shown no ap
preciation in values since the 10,000 roubles are prohibited in China has ever seriously
Armistice.
CHAOS AND CONFUSION.
to cultivate the
.
Flour Market Report-Stock: Russia and the property passes undertaken
Or their business. About 230,000 sacks. Quotations: to the nation at death of the Chinese
To evade awner.
this law, There are not many American -Japanese 2nd Patent fold stock), $2.60 per sack; Shanghai people began to transfer their bankers who can speak Chinese Flour 2ad, 3.16 per sack; Property to their heirs during finently enough to attempt it and Australian No. 1, $3.55 per sack lifetime. This was soon stop there is no doubt that in develop Australian No. 2. $3.35 per sack; ped by a new decree prohibiting ing banking among them. & donations exceeding 10,000 knowledge of the language would Australian No. 3, $3.20 per sack.
roubles.
be a tremendous asset, for it would Metals-Business at a stand-
enable the American manager Nationalisation of banka met to get in personal and direct Sugar-Market quiet at ad-with enormous opposition at touch with Chinage customs first, and there was a strike of all and secure their confidence and bank employees, which lasted co-operation, two most essential three months. This period was elements in developing busines of alter confusion and chaos; in China. To this fact more practically all financial life was than any other the writer attri stopped The only business car-butes his success in securing ROYAL HONGKONG GOLFried on was the cashing of cheq Chinese business. In addition ues certified by the workman's to the service which an American .CLUB.
committee as necessary for pay commercial bank could render ment of their wages..
to American and Chinese trade, For the Chinese New Year After a three months' strike the there is the whole field of ChinesÓ holidays the following compati-bank employees forced into industrial developement. - This
still.
vanced rates.
GOLF.
HONGKONG GOVERNMENT. THE COLONY'S FINANCES. to have been arranged for compromise by starvation, appli- field has not been touched by
ENQUIRY INTO EMOLU- MENTS.
Fanling :-
ed for work with the Bolsheviks, banks in China. It true that Running Bogey Pool for men and after long and insulting there are difficulties in entering The Hongkong Treasury issues ever the Main Conse from Saturnegotiations 25 per cent, were this field, but they are not instic the financial statement for the day to Monday, 1st to 3rd taken back. From this time mountable. Our treaty with month of September
February,
work became more systematised. China prevents the holding of resi Balance of Assets and It is notified in the Government
Liabilities on Mist
Men's Shanghai Foursomes The main idea of the system is estate by foreigners, which shut Gazette that the Officer Ad-
(Medal Play) over the Main centralisation. In the whole of out the taking of mortgages as ministering the Government in Revenue from 1st to..
August, 1918, ...$6,297,678.30
Course on Saturday afternoon. Russia there exists only one bank security. There are several ways Council has deemed it
Mixed Doubles (Medal play)-"The People's Back of the around this difficulty which will advisable
30th Sept 1918. 1,249,265.03 that BI enquiry should
ever the Main Course on Monday Russian Soviet Republic," with enable a bank. to enter this field be instituted, made,
branches all over Russia. In with absolute security and rom- and conducted regarding the Expenditure from 1st
7,545,943.33 afternoon. emoluments of the Public Service
Entrance fee to all Competi- every town each class of banking mensurate profit. The Japanese to 30th Sept. 1918, of the Colony and that with the
823,352.39 tions $1 per card, 50 per cent. activity is supposed to be con- and French have circumvented advice and consent of the Ex-
of the entrance fees to be devoted centrated in one place, but in the impasse, the one by securing ecutive Council, he has appointed
Balance,...$ 6,729,590.94 to War Charities.
practice this is only true for big a special charter for a banking Mr. Charles Montague Ede, the
centres. CAPTAIN'S OUP. *Exclusive of Crown Agents,
corporation from the Chinese Honourable Mr. David Landale, Account for September.
The play-off for the 1918 com- It will be seen that what the Government and the other by a the Honourable Mr. Charles
petition has now reached the Bolsheviks call" reform" civilis special grant or privilege. final stage, the finalists being Hed people would term wanton A. Lawson and A. Morrison, It destruction. Yet it would be's
McIlvaine Messer, O.BE.,
His Honour Sir William Rees Davies, Kt.,- K.0, and
the
£1,000 IN A WASHTUB.
sation's Tesourose, Their "poon omic ideas are certainly unse our pout of view
Honourable Mr. Robert Gordon A woman walked into a New is hoped to play the final on mistake to imagine that the Shewan to be Commissioners for port (Mon.) bank and said she Sunday, 2nd February. The Soviet have no plan or policy the purpose of instituting, mak- wanted to deposit $1,000. A winner of the January round for and that their sole aim is the ing, and conducting such enquiry, taxicab was outside, and the wo this cup is A Morrison, with a reckless squandering of the
Sir Willam Rees Davies is to be man was assisted to carry the score of 95-12-83 ust Chairman of the Commissioners heavy bags into the bank. All and Mr. James Arthur Edward the money way silver, and not Bullock, Chief. Clark, Colonial Secretary's Office, to be Secretary. The women
a coin was amser than a florin for 18 har The Commissioners
husband hara
to the and quested to report their findings at up the previ
might oc and recommendations : begins ing the monet the 20 de
COPPIE OUP, The com
DON'T FORGET
TO-DAY.
Victoria Theatre 9.15 p.m. Coronet Theatre –9.15 pumz
TO