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Hoppkong Telegraph”. Viri udfrỳaguing Post,, Ltd., Alpyridine na 6509 (Hongkong.
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Supreme Court
The
FINAL EDITION
FOUNDED 1891
No. 16431
SATURDAY, 六拜祖 號六廿月二英港香
FEBRUARY 26, 1938 日七廿月正
Hongkong Telegraph.
GINOLD COPY 10 CENTS $30.00 PER ANNUM
SPECIAL OFFERS in
TRAVELLING.
REQUISITES
(slightly shop" solled)
All English or American made. Genuine "AEROPAX"
(Ladies'. Model)
"'AEROPAX" Wardrobe
Trunks
Real English leather
ATTACHE Cases, 24"
$26.00
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MANY OTHER BARGAINS in our Baggago Dopt., 1st Fir. Whiteaway, Laidlaw & Co., Ltd.
BANK CHAIRMAN SEES FUTURE DANGERS
CONDITIONS IN Season's Best Crowd Goes to Happy Valley
FAR EAST MOST SERIOUS, SAYS MR. G. MISKIN
HALIFAX GOES TO
FOREIGN OFFICE
Never Graver in Whole Opposition Demands
History of
Institution
"Conditions in the Far East are to-day more serious than they have ever been in the history of our Bank.
"The two great nations of the Orient are at grips, grimly determined to fight it out. All the efforts made in recent years to outlaw war through treaties, pacts and covenants have broken down.
"So far from intervening to bring this conflict to an end the leading Western countries are seen aligned into groups supporting widely opposed theories of govern- ment; watching each other intently, like boxers at the opening of their bout."
"Few years have seen such contrasts as the past year in China and it is a sad task to set about review. ing the political situation there during 1937. The year started so well and ended so differently."
These were some of the remarks made by Mr. G. Miskin, who presided at the Annual Meeting of the Hongkong and Shang- hai Banking Corporation at its Annual Meeting held this morning.
Financial, trade and political conditions, with especial reference to the Far East, were comprehensively surveyed by Mr. Miskin during his speech.
Debate On Appointment
Egyptians. Want No Aid From Italy at Suez
London, Feb. 25.
It is officially announced that Lord Halifax, Lord President of the Council, has been appointed to Mr. Anthony Eden, Mr. R. A. Foreign Secretary in succession
Under - Secretary, succeeding Butler has been appointed
Viscount Cranborne,
Following the appointment of try, it is understood that Mr. Lord Halifax ns Foreign Secre-
Pre-
Neville Chamberlain, the mier, is dealing with all impor- tant aspects of foreign affairs in the House of Commons.
.Mr. Lennox Boyd has been appoint- ed in Mr. Butler's place in the Ministry of Labour,
The Opposition has indicated that a full House of Commons debate, on Lord Halifax's appointment will be demanded, both Mr. Clement Attlee and Mr. Wedgwood Benn making i clear that they felt strongly that the
ber of the House of Commons instead of the House of Lords.
The Statement of Accounts disclosed a not-profit-for-the-Foreign Secretary-should-be-a-mem- year of $15,432,216.
Over forty shareholders were
present when Mr. Miskin rose to
speak. Addressing them, he New Ships To
said:
Ladies and Gentlemen,-Since our
inst Annual Meeting, a Knighthood Trade With
has been conferred upon Sir Van- deleur Grayburn by His Majesty the King.
During a period of unprecedented difficulty Sir Vandeleur has been both
a lower of strength to the Bank a wise and able counsellor in the financial affairs of the Colony.
and
I am sure that you will join me in congratulating him very warmly
upon the well-deserved honour which he has received,
of
The Report and Statement Accounts having been in your hands for the required period, I will, with your permission, take them as read.
After making full provision for all known losses and contingencies, the net profits for the year amount to $15,432,210.04, to which
must be added $3,340,789.84 brought forward from last year,
After deducting the interlin divi- dend of £400,000 pald at 1/2 and Directors' remuneration, there re mains available for distribution $12,127,542.35 which it is proposed to deal with as follows:-- To pay a final divi- dend of £3 per share (subject to deduction of income ue)
..5 7,714,597.82|
1,000,000
Transfer to Bank
Premisca Carry forward to
New Account
3,383,004.53
$12,127,542.35
The Agures of our Balance Sheet have been converted at 1/2%, the same as last year, so a comparison is an easy matter once more.
Hongkong
San Francisco, Feb. 25, It is learned that a Stockhalt shipping company will begin a regular freight servies between San Francisco, San Pedro, Yuko- hama, Hongkong and the Philip- pines on April 15.
The ships will trade under the. name of the Trans-Marine Navi- ration Company.-United Press.
GENERAL PERSHING SINKING
Tucson, Arizona, Feb. 20. General John Joseph Pershing, comunander-in-chief of the American Expeditionary Force in 1017, la sink ing rapidly in the State Hospital here.
has
The authorities announce he been placed in an oxygen tent. -
He commanded in the campaign against the Moros in the Philippines in 1913, having first gone out to the of American troops again when they Islands in 1900. He was in command pursued Pancho Villa into Mexico in March of 1010,
Within a year he was to lead thei first American army to a European! war,
GOES TO KEY CABINET POST
VISCOUNT HALIFAX, who has served in many high offices in the Government, lakes over the The principal change is in our
duties of Foreign Secretary, the note issue which has increased by
most arduous of any in the Cabinet conie $72 million and is shown
at tila time. this year in two amounts, while on
General Pershing retired in 1924. the other side Hongkong Govern-
A debate
will on the subject ment Certificates of Indebtedness Its life has been darkened by probably take pinee next week- show as a separate item of just over dreadful tragedy, for in August, Reuter, « 5170 million as cover for our excess] 1915, his wife and three daughters
perished in the burning of the Von Ribbentrop To Go Presidio in San Franeled--Reuter,
To London
issue.
100 PER CENT, COVER
The Hongkong Government now. publish at stated periods to condi- tion of the currency fund, from which it can be seen that well over 100 per cent, cover is held by them against the Certificates of Indebted- ness which we hold it is not only a great satisfaction to your Board to know that our liability to the pubile Is so well secured but also that the qurrency of the Colony is in such a wound condition.
(Continued on Page 3.j.
PICTORIAL SUPPLEMENT
Owing to the largo demand for coples of to-day's "Telegrapha" subsequent to the printing of the Pictorial Supplement, this edition is lerned without the Supplement.
Herr Joachim former Germon
London, Feb. 25.
von Ribbentrop. Ambassador to Britain, and now Foreign Minister, will shortly visit London to bid fare well to friends and the staff of the Germon Embassy.
It is understood he will see Mr. Nevillo Chamberlain and Lord Ifallfax, but it is not indicated that there will be anything “morn than (Continued on Page 9.)
THIS IS REAL WARFARE
Just as the Insurgent troops swept into sight below, the camerkian, "In this lair of salpers, snapped" Loyalist sidemen going into action. Now the Loyalisis are no longer at Teruel, shenchy they lost 10,005 killed and 10,000 prisoners in fighting round about the place, according to lalest Insurgent despatches. Herbert, L. Matthews, New York Times correspondent, took this picture,
CHINESE LAUNCH NEW
DRIVE ON CHUNGYI; CROSS YELLOW RIVER
مم
THE LEOPARD" PAYS GOOD WINNING PRICE BEATING GOLDEN COW
But Favourites Generally Live Up To Expectations
To-day's was the biggest crowd of the season at Happy Valley, swelled by hundreds of children. The Circle was packed with Chinese.
The band of the Royal Scots, in full regalia, furnished an additional touch of colour to the meeting and splendid music. The band performed ceremonial marches after the first race, and the skill of the Pipe Major won the applause and admiration of all, especially the children.
The first event was a favourite's race, Salvage Master winning in fairly easy fashion, with Mr. Donald Black in the saddle.
CASH SWEEP RESULTS
The following are the lucky Cash Sweep numbers at to-day's Roces:
RACE !
No. 4300
3600
454.00
$1,039.00
277.03 Unplaced panies ($50 each);-Nox. 3791, 3450, 2503, 2.20, 1601, 1420, 3763, 2435, 3023, 1379, 720, 4206, 3155.
RACE 2
No. 4150
$3.003
800.
Unplaced ponies ($30 each):-Nos. 27 1034, 3005, 2357, 817, 3438, 2623, 2561, 2030.
4781, 2071, 1412, 4589, 3120, 2307, 3231, 303,
No. 5407
4620 6500
Chengchow, Feb. 26. - Chinese reinforcements have crossed the Yellow River and are launching a counter-offensive on Chùngyi, on the Peiping-Hankow Railway, 18 kilometres from the north bank of the river, where brisk fighting is in progress, according to the latest advices received from the front.
The Japanese right wing in northern Honan is still massed at Fengchiu, 18 miles north of Kaifeng, Small batches of troops have been sent out to scout the north brink of the Yellow River there. But so far they have not 5359, 2734, 492, 5187, 1487, 4402, 2010, 0149. yet made any attempt to cross the river.
The Japanese left wing is scattered at Taiyuan, Hwai- king, Wushe and Menghsien-Central News,
Round Up Of Japanese
Chengchow, Feb, 20. Chinese forces in easter Shansi ara Lounching an enveloping attack on the Japanese troops which have reached Changreh," Changtze and Tunlu, from three directions, the west, south and north, a military report received here states.
COLONY HAS
NO OVERSEAS LIABILITIES
Assets Far Exceed Liabilitics
On the Tatung-Pukow Railway the Chinese forces have succeeded in re- pulsing the Japanese attack on Liang- tuchen, north of Lingshth, whilst west of the rallway the Chinese and Japanese troops are still holding out
Repayment of all outstanding against each other at Shuangchih-loans, with the exception of the chen, about 120 miles south-west of Talyuan-Central News.
Japanese Land At Lukang
1
The Leopard, ably ridden by Mr. Encarnacao, won the second-section of the Nil Desperandum Stakes, nosing out Golden Cow and paying a hand- sume profit of nearly $30 to backers. Half Moon Eve and Humdrum, Evo made a race of it in the third event, the Grifins Spring Handicap, where there were only six starters.
Dr. S. N. Chau's Derby Day had a One win in the fourth race, the Flemington Plate. Mr. S. W. Tang rode well. Mr. Black got e second place on Discovery Bay.
FEATURE EVENT'
The Professional Cup and Sub- scription Grimns' Cliampions was the arth event, and a feature of the day. It drew seven starters and Mr. S. W. Tang, riding his own pony, Louls XIV, won by a neck from Desert Star, Mr. Needa up, in a thrilling finish. The third horse, Plet Hein, paid the best price..
1-THE NIL DESPERANDUM STAKES. (First Section)-Winner 6760. Becond 6300. Third $200. For Chine Ponies. One hilie.
RACE 3
$3,060.40 874,40 437.20
RACE 4
No. 1554
6030 3128
$2,903
152
$20
Unplaced ponies 1$50 each) Nos. 4909,
Unplaced Pontes ($50 each) Nos. 5727. Want Bui Ngau's BALVAGE MASTER, 5079, 2010.
13A 1
BID. Blacký Lucky's LUCKY ELEVEN, 35 lbs. ....
(C. Encarnacao) 2 H., and H. FEI YING, 158_ibe
(F. Marshall) 3 10 Starters. Won by length and a half; two lengths. Time: 2.00.
2
RACE 5
No, 3003
3063 0341
$3,424.45
978,40 489,20 Unplaced pantes (850 each) Nos. 4720, 4100, 4600,
4743.
. RACE.
No. 4729
0813
124
$3,207.00
042.00 - 421.00
Unplaced pontes (155 each).-Nos. 8470, 316), $14, 0026, 32, 410, 1440, 28, 3671. 0404, 5934, 3303, 1204. 4048, 3227, 1777.
5
STOP PRESS
Parl-mutuel: -- Winner $0.00. $5.00: $7.00; $0.40.
Piacea
Z-THE NIL DESPERANDUM STAKES, Second Section)Winner $150. Second $300. Third $200. For China Pontes. One Mille..
Tester and Graham's THE LEGPARD, 140 ibe ................................SC. Encarnacoa) Binck and White's GOLDEN COW, 155
ius.
(Y F. C. Haifa PLANCHET, 188 10.******
P. Tunai 2
IV. V. Needs) 3 20 Starters. Won by a neck; two lengths, Time: 3.063,
Parl-mutuel~~Winner $27,00 Plaves
0.40; $0.00.
81.40;
1-THE ORIFFINS BPRING HANDI- CAP-Winner $750. Second $300. Third $200. For China Ponlea. One Mlle. Evo's HALF MOON'BYE, 130 the,
(F. Marshall) Evo's HUNDRUM EVE, 145 150.
Davis' Lancashire's LANCABUIRE LASS,
........(3. C. Lian Won by length; four lengths. Time: 1303,
lbs.
Six Starters,
Parl-mutuel-Winner
19.30; 10-10; $3.00.
$0.00. P
Hongkong four per cent. Con- version Loan and the Hongkong) 3% per cent. Dollar Loan, has placed this Government in the
7-THE HAPPY VALLEY APKINGtralian Ponies, Grimns of this Meeth happy position' of being one of HANDICAP A DivisionWinner Fito. that lave started and have not won, and
4—THE FLEATINGTON PLACR-WINS! $750. Second $300. Third $200. For A
the very few in the world with Ponies.
Second 1300. Third 200. For China Australian Ponies of any Beason that have
With excess assets over liabilities Ibm
About One Mile 171 Yards,
L. Reddy's SOLDIER OF HONOUR, 103
J. Foto-Elunt).
1
(F. Marshall) 1. C. Pun
1
Tsingyang, Anhwel, Feb. 26, Fighting on the Wuhu front has been intensified after the arrival of Japanese reinforcements.
Under a protective barrage from no overseas liabilitics. some 16 Japanese warships in the Yangise River, 2,000 Japanese troops of $14,002,278 Hongkong finances are, Eve's HAVOC KVE, 143 ihe. *********** fanded at Sanchanchen, and Heng- in fact, in a particularly healthy con- Len's CORBACK'S BEAUTY, 168 IT." shanking west of Lukang yesterday dilion. The only outstanding loan morning. Heavy fighting in now liabilities are the two local loans, going on these polats Central News. which total just over $17,000,000.
Towards repayment of the cent. Conversion Loan, while Japanceo And Koreans
been reduced to $4,030,000, Captured
Colony possesses a Sinking Fund which, on December 31, amounted to
10 Blasters.
Won by short head; three langths. Time: 2,002/5, (Equnla Record). Pari-mutuel:-Winner #13.40.
per has $0.30: $0.55; 88.40. the
approximately $850,000. The Dollar! Loan of $14,000,000, floated th 1034,|
CASH SWEEPS
RACE 7
No. 6907 402
.. 4301
$3,812,00 1,032.00 $19.00
Chengchow, Feb. 20. Forty Japanese soldiers and 20 Korean irregulars wera captured recently by a Chinese mobile unit has already been reduced to $12.320,- during a surprise attack on Tangyin 000, and will be repaid in 1950 by: station on the Peiping-Hankow Rall-annual payments of $500,000, plus 630, 5308, 1567, 5332, 6015, 1039,
way, 21 kilometres south of Cheng- [teb." They are being escorted to the
rear-Central News.
Japanese Army Trucke Attacked
Chengchow, Tob. 30 A Deat of 39. Javanese army trucks loaded with military supplies, and
interest.
escorted by 10 tanks, was aliacked by a Chinese moblie unit at Feng- bordering on tion in north. Honan south-eastern Shanal on February 23, a belated report states.
The Chinese guerilian spattered the enemy vehicles with machine-gun (Continued on Page 0,)
not won $1,000 or more in stakes at Race- Meetings of this Club inco January, 1937. About Tall Milo 110 Yards
B. N. Chau's DERDY DAY, 155 lbs.....
(8, W. Tang) 1 L. Dunbar's DISCOVERY DAY, 152 lbs. 3 Johnsons and Ainbkater's RANGER, 102
(1), Black) 1 Ibw...
.. Maltiand) 7 12 Biarto
The
Won by two and a half length; Places
same.
Time: 1.00.7. Part-mutual-Winster 45.10. Pisces $5.70; 20.20; $2.30.
AND
THE PROFESSIONAL CUP KUBSCRIPTION GRIFFENS CHAMPIONS, ~~A Gweepstakes of $25 each for Biarters. A Cup Presented, 0 to the Winner by the
danors and 1,000 added. Hecand $500. Third $300. Winners and Placed.
8. W, Tang's LOUIS XIV, 162 1.
Unplaced ponies (930 each) Nos, 4210, antes only, us and a Quarter Milles.
(9. W. Tang)
155 15
C, N, K'S DESERT STAR ** Needaj a
Hollandia's PIET HEIN, 168 169,
7 Etarters,
(L. D. Chao). J won by a neck; one and a half lengthe Time-332,1.
Pari-rutti@ly—Winner 15,59. Minors $5.201 $3.00; $0.20.
(Continued un luge 12.)