Shipping to Europe, Australia, and other Ports.

THE HONGKONG TELEGRAPH.

P.&0.-BRITISH INDIA, APCAR

AND

EASTERN & AUSTRALIAN LINES.

COMPANIES in corporated in ENGLAND)

TO

ITEAITS & BURKA, CEVION, INDIA, PERSIAN GULF. WEST INDIEN MAURITIES EAST & SOUTH AFRICA, AUSTRALIASTA, INCLUDING, NEW ZEALAND & QUEENSLAND PORTS, RED SEA, EGYPT EUROPE, ETY PENINSULAR & ORIENTAL FORTNIGHTLY DIRECT ROYAL MAIL STEAMERS (ENDER CONTRACT WITH H. M. GOVERNMENT.)

9.5.

NANKIN

SOUDAN KARMALA SICILIA KASHGAR PLASSY

A. APCAR TAKADA

Tona

From Hong- kong(about)

Destination

17,500 | 22 Nov. 1a.m. M'les, London & Antwerp 16,700123 Nov. noon | S'pore, Parg, Cho & B'bay 19,000 6th Dec. B'bay, Mles, Ldon, A'werp S'pore, Pang. C'bo & B'bay 1th Dec. 16.700

27th Dec. M'las, London & Antwerp 19,000!

Mios, London & Antwerp 10th Jan. 2460]

SAILINGS (South)

BRITISH INDIA.APCAR

4,500!

19th Nov. 22nd Nor. EASTERN & AUSTRALIAN

EASTERN 140001

29: Nov.

Singapore. S'pore, Penang & Calcutta.

SAILINGS (South)

(Mla, Sandakan, Thursday Island. Tville B'ban. Sydney & Melbourne.

Preturite 251, hetim kuracak won the fallowing t tes Tat. Compnažívatromere to the Daited Kinga via New Zealan 7.

SAN FIBEGING, CH

The P. AN. Rina Man dur ein Bike Cand

a. Brand Server

The Now Besina I Shipp =

satguter.

farmers han lon was the Capt.

Tasteamere biz Southampton agilia kia vie Panama Canal

SAILINGS TO SHANGHAI & JAPAN.

[9,09:39 Nov. 10a.m. S'hai, Moji, Kobe, Y'hama. 15.200! 22a: Nov,

KASHGAR

TORILLA

PLASSY SICILIA

2nd Dec.

| 8,700

3rd Dec.

Japan Shanghat & Japan

| Shanghai

All dates are approximate and subject to alteralign without notice WIRELESS ON ALL STEAMERS.

Parcels Measuring tot mots than 294ft x 2ft x 1ft. will be received at *te Company's Über up to 25on nn the day previous to skilles-

For Passe Rates, Handbooks, Freights etc. apply to

MACKINNON, MACKENZIE & CO

IL, Des Voat Road Central.

GLEN

AND

Agellis

SHIRE.

JOINT SERVICE OF STEAMERS.

B.K.. STRAITS, CHINA & JAPAN Servita.

Vesse!.

5.S. GLENIFFER.

5.S.

CARNARVONSHIRE

S.S. GLENBEG

Vassel,

OUTWARDS.

HOMEWARDS.

Leaves Hongkong.

Due Hongkong.

25th November. 1st December. 13th December.

Discharges.

4.5. GLENGARRY 20 Nov. GENOA, L'DON, A'WERP, R'DAM, H`BURG, S.S. GLENIFFER 7th Jan. L'DON, HELL. AWERP, R'DAM, E'BURO.

Masements are subject to change without notice For freight or further particulars please apply to:-

JARDINE, MATHESON & CO., LTP.

THE GLEN LINE, LTD.

AGENTS

Telephone Central No 215, sub-ex. 23 and 3696

JAVA-CHINA-JAPAN LIJN.

REGULAR FORTNIGHTLY

SERVICE BETWEEN

JAVA, CHINA and JAPAN.

Exsger

Expected a

71

tt htt

Or o

in port

*iftaroem... Tilkinl Tilpanas...

Tisatak

For

Batavia

16th Nov. Amoy, Shangha Balikpapan 19th Nov. 22nd Nov, 1 Japan via S'hai

Saigon 122nd Nov, 26th Nov

27th Nov. 23th Nov. Batavis.

Jara Japan

FRIDAY, NOVEMBER 17. 1922.

Shipping to Europe, Australla, and other Ports.

N. Y. K.

SAILINOS SUBJECT YO ALTERATION, " ĮVICTORIA, SEATTLE & VANCOUVER via S'hai & Japan perts.

Throuar Cills of Lading issued to sil Overland Common Pointe io V.S A. & Canada.

IYO MARU

Sunday. 3rd Dec., a 11 a.m. Wednesday, 20th Dec., at 11 am. MARSEILLES, LONDON & ANTWERP via Singanore, &c.

MISHIMA MARU

SHLDZUOKA MARU

HAKOZAKI MARU

Wednesday, 22nd Nov, at li a.. Wednesday, 6th Dec. at 11 am.

HAMBURG vía LONDON, 'ROTTERDAM.

LISBON MARU

LIVERPOOL via MARSEILLES.

TATSUNO MARU .....

-First half of December.

COASTAL SHIPPING.

INDO CHINA STEAM NAVIGATION CO., LTD.

пооп

SAILINGS SUBJECT TO ALTERATION. Destination

Steamer

Sailing TTAO va Stow & S'hai Yatshing Tues. 21st Nov. at d'light. BANGKOK via Swatow Chaksang Tues. 21st Nov. at 10 a.m. [SHANGHAI vis. Swatow Esanz Wed. 22nd Nov, at d’light. BANGKOK via Hoihow Chunsang Wed. 22nd Nov, at 10a.m. TTAO via Stow & S'hai Wingsang Thurs. 23rd Nov, at 10a.m. SANDAKAN

Thurs. 93rd Nov. at ...Hinsang TTAO via Słow & S'hal Kwongsang Sun. 26th Nov, at d'light, (BANGKOK via Swatow Drufar Mon. 27th Nov, at noon; noon. TIENTSIN..... First ball of December.

Cheangshing Tues. 28th Nov, at STRAITS & Calcutta...... Kutsang Sat.

9th Dec. at 3 p.m. [STRAITS & Calcutta......Laisang Fri.

15th Dec. at 3 p.m. KOBE.

Hosang

Thurs 21st. Dec. at CALCUTTA LINE-This Line now affords regular sailings to Calcutta Penang and Singapore: Returning Tom Calcutta Japan steamers proceed via Straits and Hongkong to occasionally calling at Shanghai.

SYDNEY & MELBOURNE via Manila, &c.

TANGO MARU

YOSHINO MARU

Tuesday, 19th Dec. at 11 s.m. Tuesday, 16th Jac. at 11 a

NEW YORK & BOSTON VIA PANAMA.

TOTTORI MARD...

Wednesday, 2nd November. BUENOS AIRES S'pare, Delagoa Bay. Durban & Cape Town, Wednesday, 29th Nov.

KAWACHI MARU

30MBAY via Singapore, Penang & Colombo

WAKASA MARU

NAGASAKI, KOBE & YOKOHAMA.

TANGO MARU

***

Monday, 27th November.

CALCUTTA via Singapore, Penang & Rangoɔr.

Monday, 20th November CALCUTTA HARU

Friday, 17th Nov. at 11 [... SHANGHAI, KOBE & YOKOHAMA,

Sunday, 26th Nov. at Il a.. HARINA HARU AWA MARL

(Calling Yokkaichi) Tuesday, 25th Nos. For further information apply to NIPPON YUSEN KAISHA. Tel. Central Nos. 292 & 293, K. H. KAMET, Manager.

DODWELL & CO., LTD.

REGULAR SAILINGS TO NEW YORK & BOSTON

FOR NEW YORK & BOSTON.

S.S. KENDAL CASTLE" 5.S.WRAY CASTLE"

Sailing on or about 22nd Nov. Sailing on or about 20th Dec.

LLOYD TRIESTINO.

Taking cargo on througa Bills of Lading for Larank Black Sea and Danube Porta.

FIUME taving been re-opened for traffic, cargo is also - accepted for this port on through Bills of Lading,

FOR SHANGHAL.

+++

5.5. "VENEZIA 5.S. SIPPOX**

For BRINDISI,

VENEZIA”

SS. "NIPPON "

Sailing on or about 28th November. Sailing on or about 1st December. VENICE & TRIESTE.

Terang" andʻmatumvo,“

Sailing on or about 25th November. Sailing second half of December.

Passengers Luggage can be insured at the office of the Agents,

NATAL LINE OF STEAMERS

Regular Passenger and Cargo Service. FROM CALCUTTA TO SOUTH AFRICAN PORTS.

S.S." UMONA

...Sailing end of December. Through Bilis of Lading issued from Hongkong.

For Freight or Passage on any of the above Lines apply to -----

DODWELL & CO., LTD..

Agents.

Telephone Central 1030.

AUSTRALIAN ORIENTAL LINE.

HONGKONG TO PHILIPPINES & AUSTRALIAN PORTS. SAILING (SUBJECT TO ALTERATION),

Steamer.

JAIYUAN CHANGSHA

noon.

11

WHAT GERMANY CAN PAY.

Mr. McKenna's Plea for War Debts Revision......

Mr. Roginati MeKanny, chair- man of the London Joint City and "Midland Bank, recently - made a pies for "rational recog- sideration" of the question of reparations and international debts.

Ho was addressing the conven- tion of the American Bankers" Association at New York:

Mc-McKenna dealt with the Laubject from a strictly economic

point of view, confining himself to a consideration of what the Idebtor countries were able to pay.

and what would be the effect of payment on international trade. His conclusions were

England bax the capacity to pay the Cnited States interest and sinking fand on her bebt.

Germany can only pay now.

All steamers have excellent passenger accommodation, are fitted

with Elattie Light & Fans and carry a fully qualified Surgeon. whatever she may have in foreign SHANGHAI LINE: Sallings approximately every three days between balances,

such

together with Canton and Shanghai, sometimes calling at Swatow. Through amount as she can realise by the tickets can be obtained and through Bills of Lading are issued sale of her foreign securities.

A definite postponement of Sov all to Northem and Yangtze Parts via Shanghai. MANILA LINE weekly service is maintained with Manila beparment by the other debtors is vessels-with good passenger accommodation, sailings from desirable in the interests of all

parties. both parts every Friday.

Mr. McKenna's argument was HAIPHONG LINESailings approximately weekly for

that any attempt to enforce pay and cargo, calling at Hoihow when inducement offers. BORNEO LINE-nightly sailings to and from Sandakan byment beyond the debtor's ability

two 5,000 ton skamars 8.5.

HINSANG MAUSANG would be injurions to the trade beth steamers having excellent passenger accommodation, of the whole world, would lower Cargo taken on through Bills of Lading for Kudat, Jesselton, Wages, reduce profits, and become Labuan, Tawaojuad Lahad Datu. TIENTSIN LINE-Agular sarvice is run "trom March to Nov.

passenger:

a direct cause of unemployment. "I believe I am justified in to treat England's

between H'kong & Tientsin calling at Weihaiwei & Chatoo, asking you BANGKOK LINE-A veetly service is provided between Hong-debt to the United States as cor-

kong and Bangkok via Swatow, by five steamers atted with sain to be provided for," he said. up-to-date passenge: accommodation.

CALCUTTA LINE.

5.5. "Namsang" will be despatched on or about Thursday, 16th Nov,, at 3 p.m. for SINGAPORE, PENANG & CALCUTTA.

Through Bill of Lads issued to RANGOON, PORT SWETTENHAM & MADRAS & DUTCH EAST INDIES.

For Freight or Passage spply to

JARDINE MATHESON & CO., LTD.

General Managers.

Telephone Central So. ziɔ.

C. N. C.

CHINA NAVIGATION CO., LTD. SAILINGS SUBJECT TO ALTERATION.

Fo:

MANOHAT & TSINGTAO...Sinkiang HOIHOW & BANGKOK....t.inan SWATOW & <INGAPORE...Kwelyang SWATOW & SHANGHAI

..Chengtu

...18th Nov, at

14th Nov, at ...19th Nov. at

19th Nov, at ...21st Nov, a

WWEL CFOO, TIENTSIN Huichow SHANGHAI & TSINGTAO... Yingchow...?1st Nov at

| SWATOW, & BANGKOK ...Kingyuan AMOY & SHANGHAL.........Soochow SHANGHAI & TSING TAO Sunging SHANGHAI

Wabu Luchow

Nov. &

23rd Nov. at

25th Nov, at

25th Now, at

26th Nov. at

26th Nov, at ... 25th Nov. at

d'light. 10a.m.

10 a..

p.m. d'light. d'light.

10 s.m. 'light.. d'light.

d'light.

GERMANY'S NITION. "What is Germany's position to-day?" he asked: *Most of her foreign investments have gone. Her shipping has been largely confiscated, and she has been deprived of some of her most productive areas.

"At no time was Germany's exportable surplus sufficient to- enable her to make the actual payments demandel under the London Citimatum; it is entirely out of the question that sha could do so to-des,

"At the recent Reparation Conference of the Allied Powers, theld in London, průpnggis, were made of punitive measures to THE BETTE ER Meter Diö äbject of cam- pelling Germany to make in- imediate cash payments, a policy which could only have been al vanced under the conviction that Germany really could pay.

**For my pari, i to not baljeve that it is within nr power to to d. But suppose le a moment cha: she can. Tonly method of obtaining the money would be. by increasing her ale of man- factured goods.

10 am.

DANGER TO"ALLUS" TRADE 10 a.m.

**To do this in the tooth or size. CARGU competition of other manufactur Fang ining nations she must work lunger between for less wages, cut proats, and Taingt so reine imports to the indispens Yangiste. able minimum.

SHANGHAI & PUROWA SWATOW & SINGAPORE Kaying SWATOW & BANGKOK..............Kinng-u

SHANGHAI LINE-PASSENGERS, MAILS AND Excellent Saloon accommodation amidships. Electric Siloon and State-rooms. Regular schedule service Canton. Hongkong and Shanghai (thrice weekly) and (weekly), taking Cargo on through Bills of Lading to all and Northern China Ports. Passengers are Landed in Shanghai,!

voiding the inconvenience of transhipment at Woosung.

BANGKOK LINE.-Woskly service to and from B'kok via Stow

For Freight or Passage apply to

BUTTERFIELD & SWIRE,

(John Swire & Sons, Ltd.) AGENTS.

Telephone Central No. 36. Cargo and baggage can be insured at the above office.

Arrives Hongkong | Leaves Hengkong DOUGLAS STEAMSHIP CO. LTD:

from Australja.

1st Dec.

30th Dec.

for Australi

6th Dec. 4th Jan.

HONGKONG & SOUTH CHINA COAST PORTS SERVICE. Regular Service of Fast, High Class Coast Steamers having This steamer is fitted with Refrigerating machinery, ensuring good accommodation for First Class Passengers. Electric Light and a plentiful supply of ice, fresh provisions etc. and has superior accommodation with Electric Light throughout and Electrio Fans 1 the State-rooms. A duly qualified Doctor is carried. Reduced Fares. Cargo booked through to all Australian, New Zealand and Tas

For Freight and Passage apply to

The steamers are all £tted throughout with electric light ava accommodation for a limited number of saloon-passenger-manizo ports.

Cargo takan e All steamers carry a duly qualified surgeon.

shrough rates to all parts in Netherlands-India and Australis,

For Freight and Passage apply to the

Java-China-Japan Lijn.

Telephone Central No. 36.

Butterfield & Swire (JOHN SWIRE & SON, LTEL.) Agents.

Telephone Central No. 1574

York Building".

-

HONGKONG, CANTON & MACAO "ELLERMAN" LINE

STEAMERS.

JOINT SERVICE OF THE HONG KONG, CANTON AND HACAO STEAM- BOAT CO., LTD., AND THE CHINA NAVIGATION CO, LTD.

HONGKONG-CANTON LINE.

Jailings-To Canton daily at 8 am & 10 p.m. (Sun. 10 p.m. only)

From Canton daily at 8 a.m, & 5 p.m. (Sunday, 5 p.m. only)TM,

JERVICE THE HONGKONG, CANTON & MACAO.

STEAMBOAT.CO., LTD.

HONGKONG-MAGAO LIŃE.

ailings to Macao Daily at 8 am. & 2 p.ro, (Sundays at 9 a.m. only) Sailings from Macko Daily at 8 a.m. & 2 p.m. (Sun. &t 5 p.m. only),

Further information may be obtained at the Company's office, 44 Der Vans Road Cen:cal, Mesure. Thos. Cook & Son or the American Express Company, Hongkong

(Ellerman & Bucknall S. 5. Co., Ltd.) UNITED KINGDOM & CONTINENT SERVICE. BUTWARDS.

"City of York". 22nd Dec

HOMEWARDS. City of Paris 23rd Dec. Marseilles, London & Rotterdam. PASSENGER SERVICE.

S'hai. Kobe & Yokohams.

231 Dec.

Marseilles & London.

"City of Paris'

City of York" City of Simla " "City of Poona"

Tith Feb.

HERE. March. Md. April. Subject to change without notice.

For further particulars apply to

REISS & CO.

CAKTON.

THE BANK LINE, LTD. (Tel Central 80).

Fana in state-rooms and Saloon and Excellent Casine.

For Swatow, Amoy and Foochow and Returns, (Occupying 9 to 10 days.) Captain.

Leaving. Steamships.

Haifoong... I W. S. Taraball... | FRI Malhong W. C. Paramore 1 TUES, Halching... J. S. Thomson... FRI.. Arrivals and Departures from the Co's Wharf faear Blake Pier.)

For Freight and Passage, «pply to

17th Nov. at

tat Nor, at

1

..

24th Nov. at

I p.m

Douglas Lapraik & Co., General Managers.

NANYO YUsen Kaisha.

The South Sea Mall S.S. Co., Ltd) REGULAR FORTNIGHTLY SERVICE

between

JAPAN, HONGKONG & JAVA.

.

For Batavia, Samarang & Sourabaya. SS. SAMARANG MARU Sailing on or about

.

For Moji, Kobe & Yokohama.

9th Dep..

S.S. BORNEO MARU Salling on or about 24th Nov,

For further particulars please apply to:---

Tel. Central No. 2205, Second Floor, Prince's Ballding.

T. WATANABE,

Manig

"Her competitors will fad themselves faced with grawing unemployment and heavy trade losses. They, too, will becom pelled to reduce wages and cut profits.

"Certainly Germany can pay something, though not in the form or under the conditions it is now sought to impose upon her."! "Many Germans porsèraìforeign asse18, and it would be perfectly practicable for them to sell thems assets to the German Govern- ment, who in turn could hamf them over to. the Reparation' Commission.

£200,000,000 ON ACCOUNTS

"I believe it would bewafa to iput the total value of these lastenk at not less than a billing dalle Inrinally £200,000, 100), maga

Whatever the amount may b, however, Germany could pay it, provided the fall in the mark was arrested.

*More than that I do not think she has the ability to find, at any rate for some years, and it wou d be a condition of this payment that no mire should be demanded* of her far & long time to come.

"Her creditors would gaia by abandoning the attempt to obtain other money prymefits for! a period of at least three years,

If we pass to the other inter national debts, we have to rec- oguise that the general”argit- ment is equally applicable to them all.

*The inevitable conclusion is that these Internatiotial debts ste far too great for the capacity of any one of the debtor countries except England. She alone, in- Ber-socomulated Jorvigu juveeta menta, bas adequate resoUILES with which to, discharge, her liability to the United State. •E

"Of the others, France has the greatest resources, but they ate," I believe, quite insuficient to meet her obligation,za na

The whole subject requires à rational reconsideration by the": creditors."

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