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Hongkong Telegraph.
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四拜禮號廿月十英港香
THURSDAY, OCTOBER 20, 1921.
BANQUE INDUSTRIELLE DE CHINE
THE UNEMPLOYMENT PROBLEM.
Government to Guarantee 100 per cent. of Export Credits.
A Reuters Sercice. Y
*
London, October 19.
Consortium Withdraws Owing to Chinese Attitude.
(Renter's Service; }
~
Paris, October 19. The consortium of banks which was formed with the object of Mr. Lloyd George, in a speech in the House of Commons on unemployment, dwelt with the importance of reviving trade, and coming to the rescue of the Banque Industrielle de Chine has said that we had to convert the world's need of goods into a demand informed the Minister of Finance that it has been obliged abandon and the demand into payment. He announced that the Govern-the idea, owing to the fact that the Chinese Government is no longer ment's export credit scheme would be amended by the tiovernment Prepared to abide by its promised guarantees. guaranteeing 100 per cent. instead 85 per cent, and a special advisory commission would as a maximum to which each firm would be permitted to trade. That would enstle business in textile fabrics to be done abroad.
Loans to Colonies for Utility Works.
He
FRENCH TRADE RETURNS.
Decreased Imports; Increased Export.
日廿月九
THE MACAO AFFAIR.
Canton's Decision.
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Red Lives
ANDERSEN ME:
ON THE WATERFRONT.
1
BANQUE INDUSTRIELLF...
A New Development.
Local depositors mad creditors of the Banque. "Industrielle - da interest of a new development in the negotiations which have been Chine will learn with considerable
proc weding with a view to secure the re-establishment of the Bank on a' solvent basis.
A Router telegram has come to hand to-day which states that the formed in Paris with the object of coming to the rescue of the Banque Industrielle bas now in- forced, the Minister of Finance that it has been obliged to abandon the idea, owing to the fact that the
prepared to abide by its promised guarantees.
The Silver State Arrives.
Our Canton correspondent re
The Admiral Line vessel, Silver ports that the Government, onState, arrived just after seven receiving the reply of the Macao this morning from Manila. She authorities from the Portuguese brought 78 first-class passengers, as steerage, some 1,800 tons of steel, Consul, has again considered the 36 of them for Hongkong, and 80 hemp.etc., for other ports: 166 tons question and has decided
In follows:
view of the Portuguese for Hongkong, mainly beer and refusal of the first two demands, lamber and 17 bags of mall. The namely to apologise to Can- passage from Seattle to Yokohama ton and to
the occupied more time › an on the punish offenders, Canton must again last voyage, the weather during consortium of banks which was
by part of the trip being none too preas for satisfaction diplomatic measures. With favourable. -
third Jemand. regard to the namely the Chinese control of
inner Mr. C. E. Teater, late acting half the waters of the harbour, this may be suspended Governor-General of the Philip the delimitation question. With the Silver State. He bad a great regard to the fourth demand, soad- off from Manila, the famous
Macao namely, that
should constabulary band being present suppress gambling. this is an and a big crowd seeing him internal matter for Macao itself away and should be dropped,
Passengers.
Paris October 19. The Premier announced that Mr. Churchill bad arranged to raise about £20,000,000 upon the credit of the British Colonies for
Imports into France for the first nine months of 1921 totalled the purpose of development of railways and other utility works. fr.15.33,000,000 and 21.306000 tons compared with 46,153.000 tons for which would appreciably affect engineering trades in Britain. pointed out that orders had been tarrying because the cost of produc. the corresponding period of last year. The reduction is largely due to pending the final settlement of 1pines, was a passenger aboard Chinese Government is no longer thm and the cost of raising capital were both excessive, Thea decrease of nine million tons of raw materiais
Exports amounter to fr. 13,862,000,000 and 10,727,000 tons com- Government proposed guaranteeing Colonial loans providing thepared with 951,000 tons in the corresponding period of 1940.
A fund expenditure promoted employment in the United Kingdom. contributed jointly by the workers, masters, and the State is to be "established for six months, from which the unemployed are already
receiving benefit and will receive an additional grant for families.
Appeal for Industrial Harmony.
Mr. L'oyd George said that trade recovery was the real remedy for unemployment. That did not depend upon the Government. which was compelled to economise ruthlessly. He emphasised that, despite a debt of eight thousand millions, Britain was paying her way without concealing deficiencies by printing paper money. and her courage would be rewarded. He appealed to masters and workers to compose their differences, otherwise there would be no
wages.
Labour Minister Introduces Two Relief Measures.
London. October 19
Two Government Bills dealing with unemployment have been formally introduced in the House of Commons by Dr. Macnamara namely, a Bill providing for temporary payment of grants to unemployed workers towards maintenance of families and suspend- ing the operation of Sec. 27 of the Cnemployment Insurance Act. also a Bill authorising during a limited period the provision of poor rehef to destitute able-bodied unemployed in Scotland and extend- ing the borrowing powers of parish councils.
ANGLO-AMERICAN UNITY.
President's Oration on the Site of Cornwallis' Surrender.
New York, October 19. President Harding, speaking at a ceremony in commemoration of the British surrender of Yorktown in 1781 and surrounded by high officials of the Administration standing within sight of the spot where Cornwallis laid down his sword, said he hoped to see an enduring sentiment of peaceful relationship between the two great English-speaking nations.
That either should ever again lift the sword against the other must be unthinkable." said the President: "we are naturally arrayed together in trusteeship for preserving civilisation for all time."
"The triumph of freedom in the American colonies strengthened liberalism in the Old World. This liberalisth grown dominant had inevitably brought Britain and America to a policy of accommoda- tion in the Pacific and adjustment of all differences. After a century of unbroken peace they made united sacrifice in the world war, the lesson of which was the real interdependence of the cations which lead civilisation."
After pasing a tribute to France, President Harding said they stood at the dawn of a new day in which nations would be stronger for contributing to the world's betterment. There was urgent need to bring together the best thought of all peoples into a co-operative endeavour which would shun armed alliances and strengthen concord.
THE UPPER SILESIAN SETTLEMENT.
Expectation that the Parties will Accept.
London. October 19.
it is learned that the Polish Government has given an assurance that it will do its utmost to ensure the carrying out of the League of Nations' decision in regard to Upper Silesia. It is believed that this It is known that Germany will have a calming effect in Germany. bas been communicating with Poland in regard to a settlement. It is hinted that if either party does not accept the decision, the Supreme Council may reconsider the frontier in favour of the accepting party, but it is confidently hoped that Germany will unreservedly accept
NAVAL BASE IN THE PACIFIC.
Decision Reached, but not Singapore.
Melbourne, October 19.
Mr. Hughes, speaking in the House of Representatives, said that the question of a naval base in the Pacific was discussed at the Imperial Conference and a decision reached, but the base will: Let be Singapore.
SOVIET FINANCES..
CONCEALED BOMB ADDRESSED TO U.S. AMBASSADOR.
Valet Injured and Room Wrecked at Paris.
Paris. October 19.
A parcel addressed to the Auerican Ambassador's house ap- Parently containing a bottle of perfume, exploded what opened by nis valet, seriously injuring the latter and wrecking the room. contained a high-explosive bomb.
THE WASHINGTON CONFERENCE.
Is
French and Belgian Representation.
Washington, Cetober 19, Belgium has accepted the invitation to attend the Washington Conference" with thanks and appreciation."
Paris. October 19.
སྙ་
In the Chamber, M. Briand announced that. subject to the approval of Parliament, he himsell will head the Frederation to Washington.
U.S. PRESIDENT DECLINES BANKERS' INVITATION.
Private Experts May Attend Conference.
PHILIPPINES NEW GOVERNOR-GENERAL
It will be remembered that it was proposed to raise a Chinese loan in France out of which the purely banking liabilities of the Bank would be met.
Another passenger aboard the Silver State was Colonel Gilhaus er who bas been 21 years in
M. Montargis, the local mana- Manila and Governor of Min-ger, on being acquainted with the danso for the last ten Colonel news this morning, informed a Gilhauser views the fatore of Telegraph representative that he the Philippines very hopefully, was exbling the head office we Great strides have been made quiring bow the re-organisation during the last ten years, beschame would be affected by the Message to the Legislature. says, and when asked whether withdrawal of Chinese support. the Philippines coud later and He was personally of opinion that
certain:5
left Following his inauguration as with
to it would not be affected very Governor-General of the Philip themselves he was emphatic in much, but so soon as he bears pines, General Wood delivered his reply. "That's certain," be from Paris he will make public whatever nows he bas in order his opening message to a joint said.
Mr. J. L Irwin, privatë assembly of the Senate and the
to assure local depositors. House of Representatives, the secretary-to Governor-General general impression being most Woods is aboard the Silver State. favourable, notwithstanding the He is making a trip to Shanghai RECOGNITION OF THE absence of reletunes to inde-and-back to Manila.
pendence.
The following are leading features of the message.
be
Troilus Resumes Her Voyage.
SOUTH.
British Press-Attitude,
A special "Shingust" inchsaga atates that, according to reports, Loodon newspapers
The little mishap to the Troilus My recent and very thorough has not delayed her very greails. inspection of the Islands involv It appears that some of the teeth visits to 48 provinces and in the gearing box dropped ou. eties and towns, has given me a but this proved much less serious the vary clear ides of conditions than might have been the case. Aarging the British Government
I throughout the archipelago.
mishap of this nature may well to withdraw the recognition of und the people sa a rule, happy prove very costly. The Rhesus the Peking government. They and law-abiding and, in the main,stood by the Troilus and, after a
are advocating recognition of the prosperous. Public order is every day's delay, the voyage was where excellent with the ex-resumed at rst at ten knots and South Chins government. President Harding has declined an invitation from Britishception of minor disturbances in later at twelve. Both vessels are bankers to send representatives to a now-official financial conference the Moro regions.
The constabulary, as an or on December 12 but it is opined that probably private banking
ganization, is well disciplined and experts will gladly participate.
efficient. It deserves and has the confidence and support of the people.
Washington, October 19.
U.S. FREIGHTS TO CONTINENTAL EUROPE
Considerable Reductions.
New York, October 19. The Continental Conference of Shipping Board representativas and shipping companies has announced a reduction of freights to Continental Europe of 15 to 20 per cent. on metals and to 3 to 3 per cent. on oils, grains, meats, and canned goods.
THE AMERICAN LEGION.
Italian Commander-in-Chief Attends Convention.
New York, October 19 General Diaz, the Italian Commander-in-Chief, was enthusias tically welcomed on his arrival to attend the convention of the American Legion. He has been accorded the freedom of the city.
1Other Early wad Special Telegrams em Page 1.
CHINESE NEWS.
PEKING'S PRECARIOUS
TENURE:
"Too often the administration of justice has been slow and unzatia- factory. The courts of the islands are clogged with approximately |50,000 cases awaiting decision.
expected to arrive here to-morrow evening The Troilus will. of course, be examined bere and the exact extent of the damage ascertained and matters putright batore she leaves.
from
that there is no news of Mr. On inquiry to-day we learn Rasmussen, who has now been missing since October 1st.
OUTLAWRY IN MANCHURIA.
Statement by Chinese Foreign Minister.
Seeing The Far East. The band of the Silver Stite ¡* formed of five students frau There are not enough judges the University of Washington
la view of possible danger to of the first instance to promptly who are making the trip for the dispose of the cases coming befste sake of seeing the Far Ea-t. them. The judges of these courts Ther had a great time in Manila, the Japanese residents in the are underpaid. I believe that playing sahore each night, and Hunchung district owing to the a luncheon given by recent activities of the Hung- their number should be increased also at
the Commercial Club to Mr.butzes, Mr. Obata, Minister at somewhat.
C. E. Yester. 'They
Peking, acting under instructions "There is a marked bosiness
from bis Government. presented depression throughout the islands across the baseball team due principally to the fall, after the the University of Washington, in
Foreign Office demanding strict world war, in the prices of the Japan. Efforts are being made oficial Note to the Peking principal staple products of the for the team to tour the Philip
The Foreign Office sent a reply islands. Harpily, this condition pines, though nothing definite control of the Huoghetzes in that is improving and there are many has yet been decided. There is evidences of progressive develop just a possibility, then, that the to Mr. Obats, stating that the ment in the islands. This devel. team may appear in Hongkong opment is gratifying and shows and play a match or two. that the Filipino people have responded to improved conditions in transportation, finance, poblic order and markets.
district.
Tuchun of Kirin has already
taken precautionary measures against the bandits by order of the Government and that danger no longer exists.
News in To-day's New Advertisements.
-There will be a Szle of Crown
Land on the new road between Wanchai Gap and Magazine Gap. at the P. W. D. offices on October
Powell's advertise Evening 4-Page 4.
Dress Wear-Page 7.
Whiteaways are runding Special Sale of Turkish Towels- Page 3.
Empire State Party. "The Empire State with the big tourist party which is visiting the "I am glad to inform you the: Far East, under the auspices of I find in neighboring countries a the San Francisco Chamber of very keen desire for closer and Commerce, is due to leave Yoko- Our Canton
Even Chang and Tsao correspondent!
more extensive trids relations bara to-morrow evening. Three reports that General Cheong!
May Not Suffice.
with Philippine Islands. This days are being spent in Yokohama Kwok-ching. the commander of the 2nd division has been ordered Writing to the N. C. D. News speaks well for fature trade devel- and a similar number in Kobe, by President Sun Yat-sen to take from Peking on the 13th inst, opment and should be encouraged. the member of the party wishing "A serious blow bas been to see a fair amount of Japan. A his force as a vanguard to Hunan, Mr. Rodnes Gilbert states that and there await further orders. the threatened collapse of the dealt insular credit through in- rather longer stay will be made Many telegrams, in President government without successors in competent management of the in Shanghai, though the exact Sun Yat-sen's name, have been Peking has been temporarily avoid-national bank. Responsibility for number of days to be spent there despatched to the Kwok Mined by fhin Yun-peng's accept this rests in part upon Filipines, has not yet finally been fixed.
General. Tang's branches in the Straitance of assurances from Chang but also upon those Americans Settlements and America, asking Trolin and Tsso Kus that they who placed untrained and in- them to persuade the Chinese will hereafter make remittances competent men in charge of
Hongkong will not have a sugar The 0. 8. K. advise consignees merchants to subscribe liberally of certain revenues and use their affairs with which they wers unshortage for a little time, judgin of cargo of the arrival in port of
persuade other familiar.” towards the northern expedition inBaroce to
by the amount coming in almost the Borneo Maro-Pape 4. the praises Tuchons to follow suit.
message
daily. Yesterday the Hupeh Lammer's will sell Cordsman expenses.
It is also rumoured that con- Philippine system of free educa arrived with 2,000 tons from Iloilo and Magiis Rope on October A Peking telegram states that a lengthy official letter from Tokso fidence is somewhat restored by tien for all, and also pays a
and to-day tho Haldia brought 2-Page 4. bas reached the Japanese Lega-Pan-Fu's faith in bis ability to tribute to the University.
2,100 tons from Cheribos and the Drafar 1,800 tons from Bourabaya: tion in regard to the Shantung negotiate z Japapes loao, the
The Drafur, by the way, had a question, and will be forwarded character of which is unknown.
the Ministry for Foreign Opinion is divided upon the
death at sea-a deck passenger | Affairs to-day,
possibility of the survival of the
dving on the night of the 18th. on Government, many
inst. All the Chinese Ministers in Peking foreign countries have been believing that the influence of instructed by the Ministry for Chang Tan lin and Teso Kon is Foreign Affairs to ascertain and now insufficient to guarantee way Clearing House, the em- brought 2,700 tone of cargo, most- raport the respective Govern-consistent provincial support and ployees of British railway.com-ly for transhipment. Gunny ment's opinion as regards the that the present effort to resume panies on March 19 last number-bags and cocounts-these last! Conference and the business is only prolonging the ed 763,559, as compared with from Penang-formed the bulk of
639,323 on December 31, 1913. the cargo. Pacific Shantung question.
Maxim Gorky to Negotiate with American Capitalists,
Helsingfors, October 19. Maxim Gorky has arrived. It is understood that he proposes to eater into negotiations with American capitalists on behalf of the,to Soviet Government.
CRITICAL POSITION IN STEEL INDUSTRY.
London, October 19.
In a speech at Dalmuir, Lord Invernairn declared that unless the price of steel was reduced to something like pre-war figures, steelworks must-close down.
igony.
The
INCREASE OF RAILWAY WORKERS. Erelating the staff of the Rail-
from The Jacox
. Calcutta
To-Day's Exchange. The closing fate of the notlar
demand to-day was 2x 98. The Weather.
2 p.m. Barometer:-29.91. T· m-s perature-82. Humidity 73.
Lighting-Up Time. Lighting up time to-day, 5.54