1918-02-23 — Page 4

WATSON'S

COMPOUND

THE CHINA MAIL.

BALSAM OF ANISEED presented in one or other of the

Gives immediate relief in

cases of

COUGH.

Price: 50 cents and $1.00 per Bottle.

PREPARED ONLY BY

all

A. S. WATSON & CO., LTD.,

HONGKONG DISPENSARY. Telephone 16.

To-day's Advertisements

G."

NOTICE.

R

T IS HEREBY NOTIFIED that the Partion of Garden Road, between Bowos Road and Peak Road;

is RE-OPENED to whealed trafic.

W. CHATHAM,

Director of Pablia Works:

Public Works Department,

Bunghoog, Feb. 23, 1918

NOTICE.

163

URING the Prevalence of Cerebro- should go very slowly so as to avoid raising aust. It is requested that this should be carefully observed on Race Day.

E CARPMAEL, Head of Banitary Department. Hoogkeng, Feb. 23, 1918.

FIRE INSURANCE ASSOCIATION

OF HONGKONG.

RACE HOLIDAY.

TOTICE IS HEREBY GIVEN that

MONDAY,

30 years.

DEATH.

ANTONIA

The China Mail.

HONGKONG, SATURDAY, Feb. 23, 1918.

CHINA'S USELESS ARMIES.

of China.

FUNERAL OF THE LATE MR. J.

PATERSON........

COMPANY MEETING.

THE HONGKONG & SHANGHAI

BANKING CORPORATION.

and Current Accounts, thus confort-

SATURDAY, FEBRUARY 28, 19183

EVENTS IN CHINA.

statesmen becanas a long continua

year. Since the commencemens of necessary for these Countries to take being held at home and half abroad, the War twenty-eight men, who legislative action to protect thoir The prosperous condition of the tion of the present unarahical con-

joined the oclours from this Bank, respective currencies, and, accord Country has enabled Japan to repay ditions must some day land China.

have been killed fighting with Hisingly, the export of Silver, except a portion of ber foreign debt, make into something like a grave disaster.

Majesty's Forces on the various under licence, has been prohibited substantial loans to the Allies and battlefronts, and our heartfelt syra-in India, Japan the Straits and to borrow on advantageous terms for If China doen, at length, come to be

Siam; as well as in Great Britain and the development and improvement the United States. The immediate of her Railways and other works of The ordinary yearly meeting of thepathy is extended to their families: European theatres of the war by Hongkong & Sharghat Banking Car

THE BALANCE SHEET-

danger has been averted. The tall public utility. small army, it is conceivable that it portion was held in the City Hall magars the figures in the hat in the price of Silver was even more y

Two events of capital importance would learn a great deal regarding to-day, at noon, Mr. S. H. Dodwell ance sheet. I do not think there and rapid and sensational than the rise. the duties and responsibilities of presided, and there were present the nyaiful comments that I can From the 25th September, when tho

make change plays such as im highest point was roucher, the price to Ching have occurred in this, the military organluation which would Hon. Mr. D. Landale, the Hon. Martant part in the total that com fell td. in four days. Wide fluctus-fourth year of the war, to which

the succeeding I may roake a passing rofetence. prove of great value in a re-organise. P. H. Holyoak, Messrs. W. L. Fatparisons between the figures of the tions followed in tion of the military system of China, tender, C. S. Gubbuy, G. T. Edkins, different years are of no great value month, a rise of 3d on the 80th By an interchange of lettors huts. while the great labour battalions F. C. Butcher, E. V. D. Parr and or, interest Gold Current Accounts October marking the largest rise-ro- tween the United States and Japan from China which are now doing H. Compton (Director), Mr. N. and Fixed Deposits together stand at corded in any one day since 1895. the special interests of the latter in J. Stabb (Manager), and Sir Ellis: 0.610,000 against £10,180,000 a your: The genem trend, however, has been China ne recognised, and the infe valuable work in Europe ander com-

Kadorie, Sir Robert Ho Tung, the while the Silver Current de- towants a lower level of prices. The grity of China and the maintenance counts a Sal millions higher at year closed with the quotation 4 of the open door are reaffirmed. The or frank, interchanga of views has been petent direction are also gaining Hon. Mr. Ho Fook, the Hon. Mr. $12 millions, and Silver Fixed S.F/M. valuable experience which we cannot H. E. Tollock, K. and. Mestry, Smillious, lower at 301 The amount of Silvar imported received with satisfaction by all tari- doubt have important results upon T. F. Hough, C. W. Beswick, A. P. milots would point out that into China during 1015 was Ozs, cerned. It dispels the atmosphere the industrial and political futuro Lang, F. Maitland, H. Paruy Smith under the heading of Silver Current 25,000,000, while Ozs 54,750,000 of suspicion and misunderstanding Accounts and Silver Fixed Deposits were exported, resulting in a reduc which the unfriends of these two A. Shelton. Hooper, D. Macdonald included the figures of countries tion of the stock in the Country by great Eastern Powers word apt to H. R. B. Hack, Chan Rai Ming which were formerly on a Silver basin Oss. 81,750,000. However, provided foster in the past, and supplies a H. W. Looker T. E. Pearce, L. Ni but have for many years been estabthere is no considerable export of assurance for the future that America Leefe, A. H. Harris, JDannenberg. liabed on a fixed exchange basis, Silver from, China in the near future, and Japon will work together for the Ho Kong F. H. Thomas, D. V. consequently the title Silver is hardly present indications do not point to security and equal opportunity upon, The funeral of the late Mr. John Stevenson, H. B. L. Dowbiggin, correct, and it is our intention to large imports of the metal being, which the development of interag On the 14th August 1917, China DE REUL-On February 18, at the Paterson took place yesterday evening G. C. Moxon," C. Morton Smith, discontinue the practice, a relic of necessary. The China exchanges, tional trado with Chizu depends.

the past, of showing Goki and Silver although generally at a discreet in- Netherlands Consulate-General, Shanghai, CORNELIA

at Happy Valley. Military honours H. Barlow, Ho Kom Tong, JD-balances separately. In future only terval; have nokens volens followed. formally ranged herself on a side upon Garmary, The material, aid GEERTRUIDA ADRIANA WOUTERS, Were accorded, the deceased being a Danby, W. Dunbar, A. S. D. Cous-one amount will be given, viz: a these erratic and sudden fluctuations of the Allies by a declaration of war which China has already, been able beloved wife of Mr. J. E. DE REUS, member of the Hongkong Defence land. D. K. Mose, J. E. Saunders, dollar total against Fixed Deposit in Silver.

TRADE IN CHINA. Netherlands Consul-General, aged Corps.

to bring to the Allies in not incon Chun Tong, J. M. de C. Basto, Ping with one system in dealing with

Notwithstanding the many did sidemble. On land Chinese labour, The cortège paned the Monument at K. Kwok, K. D. Gasdor, Chau Siu the statement of accounts. Notes in balf-past fire, headed by a firing party Ki, B. Swain, A. P. Samy, J. F.elcalation are $4.1/4 millions smal- abilities, such as exchange factus corps have rendered valuable service under Lieut. Higby, Lieut. Beawick and Grove, E. M. Raymond, J. M. Jer, than the coresponding total of tions, political disturbances, floods, at the front. On sen no less vain Sergeant Harvey. Following came the Alves, Chow Tung Shang, Ho Wing, the previous year, while. Bills Pay-shortage and acertainty of tonnage,able assistance has been given by Band-of the 18th Infantry, playing F. Smyth, Le Chung Sui. Ho Leung, sble are about $5.1/2 millions high- etc., under which it has been carried Chinese sailors to our mercantile er, the increase in the latter being on during the past year, trade in marina in the transport of supplies- Chopin's Marche Funebre and then the 31. A. Lo, Fung Lok Yuen, Lee largely due to slow maile and a con- China has been on the whole satis- I think we may congratulate China guncarriage bearing the coffin, covered Coon, G. M. Young, H. H. Brown,equently larger amount in demand factory for both foreign and native upon a step, the imoral significanc

The conviction is despen- portance. with the Union Jack on which were S. Michael, C. A. da Ross, H 1, drafts afloat. On the other side of merchants. The world's production of which transcends its material im- placed the deceased's belmet and H. Nemazee, G. K. Haxton, W. B. the accountCash, including $15.1/2 of raw materials being now barely biroust Following the coffin, wers Mr. Smith, W. S. Nicholls, A, S. Gubbay millions lodged with the Eongkong sufficient for the world's needs, it is ing that our warfare is a great A. J. Paterson, deceased's brother, R. 4. Dastur, W. Roberts, W. M. Government afe Nate Issue, stunda, not surprising that the demand for spiritual conflies, a fight for an idea, is round figures at $84 millions the produce of Central ord Nerthem the right of every nation, small ca the Hon. Mr. D. Landala, Mr. G. Layton, Humphreys, A. E. Grify and J. Hagunst $81 millions the previous Chingreals, cotton, wool, oils, well as great, to pursue its own ends, Mr. A. HL Taylor, Mr. Handley Pogg N. Mody.

year, Bullion in hand and in tran hides, at should be maintained to achieve its own destiny, and to Is the conne of a letter by the and Mr. J. C. Johnstone. Nezt werd

The CHAIRMAN said: Gentlemen, sit shows practically no change. Our despite the higher rates of exchange, mould its own civilization in accord Times Correspondent at Peking on

Mr T.-F. Hough, Hon. A.D.C. to F. E. The Report and Statement of Securities are slightly higher owing freight and insumos. In former anco with the genius of its peoplo. the Governor; Staff Inspector Arculli, Accounts having been in your hands increased investments, and I may years a high level of exchange tended. It is idle to dery, as do our enemies, mention they are all written down to curtail exporte from Chiu, but that the Allied cause receives a great 166 the Finances of Chios, which appears Chief Inspector H. A. Lammert and for some days, I shall, as usual, take to what appears to be a safe level. this was not so in 1917 and Euro accession of strength and encourage

in one of the latest papers received Inspector Mackenzie, representing the the writer remarks: There is, in Police Reserve, followed by a detach them as read. The net profit for the The Sterling Reserve Fund of bean and American buyers have been ment when an ancient people, separ- fact, every reasonable chance that ment of the HK.D.C. under Major year, including $5.186,578.85 brought £1,500,000. is now entirely invested able to pay the prices naked for fronted from the scene of conflict by Chian, daring the next two years, Morgan, and then the general public. forward from the previous secount, in the British Government 5 per cent this side. It is to be noted also that ten thousand miles, of sean, their will have enough surplus funds to,

The Rav. V. H. Copley Moyle con- amounts to $9,820,180.38, a result War Loon and stands at the issue America has consumed large quanti shares amenaced, their national price of 95. Bills Discounted, Loans ties of Chinese prince which before polity untouched, deliberately take ducted the service and at the conclusion which is extremely satisfactory and Credits are some $14 millions the war found market only in theit stand on the side of the Allies NIRE INSURANCE OFFICES Pay off outstandings, to redeem

three valleys were fred and the "Last After deducting the interim dividend, lower, und Bills Receivable about Europe. The result has been that and declare their belief that our ill be CLOSED for the Transaction paper, and to standardise her silver Post was sounded by the buglers of the | of £259,000 paid in August last at $2.1/2, millions higher," than in the the native merchant bae received interests are theirs, their, conviɑtlowi of Public Business so TUESDAY and WEDNESDAY, the coinage without borrowing a penay Punjabi Regiment.

exchange of 2/8.1/4, and $80,000 former Balance Sheet. In London higher prices for most of his produce that without human liberty life would money bag been plentiful through than he has done for many years, be as intolerable in China as in 25th, 16th and 27th instant, at 11.45 m. from abroad, rubject, of course, to

Amongst those of the general renommeration to, Directors, thero 0-out the year The Bank of England rest. He hus, therefore been able to Europe. It is a decision as wise as By Order.

political considerations Here, how public who followed the coffin were:-mains a balance of $7.143.228.16 rate was reduced from 6 per cent to pay the higher prices required for it is bold. I sincerely hope that this A. R. LOWE Burdary.

ever, lies the weakness of this Major Hammond, Major D. Macdonald, available for distribution, which your 5.1/2 per cert on the 18th January imported commodities, nd consider these Government will, in her own 167 country. Internal dissensione, in the Captains W. Armstrong, G. E. Stewart, Directors recommend be appropriated 1917; and on the 6th April to 5 par 10g the difficulties experienced in the intensis is well as in those of her pent. Since that date the rate as supplying, markets, the trade in piece Affies; take upmadiate steps to m- absence of a settled Government, are M. S. Northcote, Lieutenants R. Suther as follows:-

remained unchanged at 5 per cent, goods and other imports has been tern or deport all enemy subjects still Isud, G. C. Moxon, Thomas, Evan Jones, A final dividend of £2.5/- plus 9 The market rate of discount for thres satisfactory. The risks and withcul, in Chinese territory. The numerous of the its bane. The ravennas

Rses and Hancock, Sir Ellis Kadoorie, bonus of £1 per share, subject months bills averaged for the first ties inseparable from the inter-change outrages engineered and connived at country are wasted in the main-

the Hon. Mr. J. H. Kemp, the Hon. Mr.

to deduction of income tax, half of the year £4.18.74. per cent. of commodities, already greatly in by Germans in allied and neutral tenance of useless armies, so aseless E. Pollock, K.C., the Hon. Mr. P. H.

making a total distribution for and for call money £4.11/- per cent creased by war conditions, have been Countries have taught us all the that they cannot keep brigandage Holyoak, the Hon. Mr. C. Mel. Masser,

the year to Shareholders of The difference between the two does intensified, and the strain borne by danger of allowing liberty of move- £688,000, or £5,6/. per share not allow of muen margin of profit, merchants and bankers, with their ment to such savage and unscrupu within bounds. Many provinces keep the Hon. Mr. E. H. Starp KC., the Hon.

The final dividend and bonna are and since the rate of discount is depleted staffs, in carrying on the love foes na the Germans have proved payable at exchange pf-8/-..

determined by the competition of business of the country, in mintain themselves to be. tens of thousands of soldiers whose Mr. E. Shellim, Dr. Baunders and Mesar N. J. Stabb, E. Ormiston, G. T. Edkins,

Transfer to Silver only purpose is to serve the selfish E. V. Carpmael, P. C. Potts, L. N. Lesfe,

Treasury Bills, which were on offering the supplies, essential to the at 4.8/4 per cent.; this is a condi- prosecution of the war, and at the ends of ambitious military leader. P. Tester, E. V. D. Parr, & H. Dodwell, The danger is that the greatly. Logan, HL Percy Smith, AH H. B. L. Dowbiggin, W. A Dowley,

increased funds shortly to become Barlow, E. M. Dyes, H. P. Winslow,

the present year... 0,228,288.18 of the year the rate for Treasury Bük think the most ardent patriot could sor. The total Maritime Customs available will only provoke jealousy P. White, G. H Wakaan, H.

F. Hancock, F. Maitland, T. E. Pearce, I trust, Gentlemen, this will meet is been reduced to 3.1/2 per cent not deny is truly war work, have collection for 1917 was Hackwon Tle. 168 and intrigue between the political. D. F. Moulder, R. A. Gabbay, & with your approvals Your Directors and the rate of discount for Bills of been rewarded with success, and 1. 88,177,000 equivalent, at the aver and military leaders, and result in Samoon, J. H. Hody, 8. O. Lang, Aare very pleased at again being able all usinces has declined to 8.5/8 per maintain, that those who still remain,age rate of exchange of 4/5.18-18 in senseless struggles in which the Wan Andel, RF. van Rees, to recommend an increase in the cent. It is recognised that, in time those who for the best of reasons to £6,241,857, as against a collec Berindos gus, T. J. Fisher, G. Lakin, bonus, on this occasion an increase of war it is requisite to poot the have been prevented from yielding tion for the previous year of Hai money will be dissipated." This Marshall, W. EL Birkett, of 10/- making the bonus £1, but national resources, and, as far as to their natural impnise to get to kwan T 37,784,000 equivalent, ate statement, so far as it goes, will not w. Barkhill, Shit) Aron shareholders should remember that possible render them available for the the fighting line, have the right to the average rate of exchange of DECLARED for, at the rate of be disputed, but what most of us would Saunders (Singapore, wood bonuses are fuctuating quantities, purpose of the State. It is a necesfeel that they are playing their part 8/8.18/16, to 48,254,498. Consider- 31st December, 1917, Two Pounds Three Shillings Sterling like to know is: What practical W. Ro, N. Moxes, R de Journel, liable to be reduced as well as in- sity of the case, that our national in this gigantic, struggle. I considering the handicap Loposed upon Chin dearth of tomage, the increase in togather with a Bonus of One Pound Sterling per Share, is payable on and remedy is offered! It is only too. Fairley, G. Hogg, J. Van Heer, creased, according to circumstances. finacce should be contralized in the also, that all connected with com trade by adverse war conditions and

E. Des Voeux, J. Robinson, A.G. Gordon, Although the amount paid away in hands of the Government, and as merce owe a great debt of gratitude, after MONDAY,

the 25th day of apparent that the armies which the T. Loughlin, G. Basto, J. P. Robertson, dividends for 1917 £60,000 in Bankers, we are prepared to co not only to those who have kept the actual collection is no less re- Febenury, Currea, at the Offices Corporation, where Bhareholders are provinces maintain do but serve the EP Curry, A Deaton, E. L excess of the previous year, the dol operate, so far as we can, to make open cur trade routes, but also to murkable than that of the sterling Shenton, HL Denay, E. W. 6. lar equivalent, owing to the higher their control effective. It will be those galant men, the mercantile equivalent, due to the extraordinarily requested to apply for Warrants.

solüeh ends of ambitious military Evara, J. H. Underwood, P. Todd, exchange, less. In adding dimitted that this financial policy is marine of all the Allied nations, who high rate of exchange. Thanks to By Order of the Cours of Directors,

leaders 1" Is it suggested that they EA Ram, J. B. Wood, RE $1,000,000 to the Silver Reserve susceptible of a wider application by love faced the perils of those trade this latter factor the Maritime Cun V. J. STABB,

has not only: met the service of the should be forthwith disbanded Bellies, S. G. Newall, D. Camaron, A. you will bring thet Fund up to extension to our Allies. The closer, routes with such an indomitable and torns revenue during the past year

Beattie M. P. Beattie, J. Rodger, J.-J. $19,500,000, and I trust we may be relations which have recently been dauntless spirit.

various konda, which are a first charge may relieve the Pro Leiria, J. T. Douglas, H. F. Campbell, able to continue increasing it as time established between the Bank of; THE POSITION ELSEWHERE. upon it, but has paid the whole of vincial Treasuries, but the experiences S. L. Dutton, &. B. Purves, J. Blake, goes on Ample and liberal provi England and the Federal Reserve The E of the provinces after the First Sim, J. E Joseph, R. A. Dastur, G, B which I am sure you will agren is a already been productive of the great, ahown po improvementy during the for the last six months of the rent. B. Ono, M. Taketoti, E. Howard, E Lasion has been made for contingencies, Banks of the United States have The Exchange position in India has the Bower Indemnity service and DAIRY FARM NEWS. || Revolution when large-bodies of Cooper, D. W. Tratman, W. Hafbloom wise precautich, in these days. The est benefit to both countries in unite yeur and the rate for allotting Cour the service of the Reorganisation "surples troops were disbanded, is B. Grifin, G. Towns, T. Sutherland, G. $1,000,000 which it is proposed to ing the money markets of London uile has been raised to TT.1/4.81/82 Loan, which by a special clause of

W Stewart and E. A Taylor Dumbarton, 4 M. Murray, -Ho Wing write bi Baby Premises Account; and New York and centralizing their which is at present the fixed; basis the Lousy Agreernent, is charged upon --- Loose upen the towns and villages. There were a large number of oral represents about 20 per cent of the resources in such a way that the for Indian Exchange The finance surplus Custorns revenues. After of exports of urhal unportance by the discharge of all these liabilities, ? tributes, including wreaths from the yest's expenditure on Premises, and deposit of a cash reserve in either greater hordes of bandits than already Hon Mr. D. Landale, Major Morgan, as there are still heavy outlays ahead, country muy be made the basis of the various British Exchange Banks there still remained a surplus of Th

10,000,000 of which 138, 2,000,000 exist, to the infinita disgrace of so Messrs G. B. Layton, H Hancock, the appropriation la sound and will, a credit issue in the other. It may in Indians left them little room.

ori for Landing Indian exporte to the was released to the Chinese Gore- many of the provincial administra A Paterson, J. E. Joseph, HN without doubt, commend itself to well be that these expediente, ot Far East, and that brunch of trade meat in Angust last, and the balances sions and the Central Government of Mody, H. A Taylor, the Manager, you The figures before your are in ginated by the emergency of war continues to be bampered. But, on has since been paid into Salt Re-

Netherlands India Commercial Bank, themselves sufficient evidence that hunce; may eventually crystalle Chise as well. In truth, the problem Hongkong and Shanghal Banking your intereste have been well and into more permanent arments be whole, Indian trade has beer tenus account in poimbursement of rds: ment of the Boner In- is an exoedingly difficult one in a Corporation: Chartered Bank of India, loyally looked after, and I am sure for the finance of international trade very active and high prices have been contributions previously made

obtained for exports, so that the

An interesting. ture of country where strong and enlightened Indies Commercial Bank, Bangus ds you will all approve of our action in in time of peace.

countrymen must have done well-demnity again voting the Staff (excluding leadership in lacking, and where the 1 Todo-China Inirational Racking Hamburg Office) a bonus of 20 pent

THE POSITION OF SILVER, The absorption of Rupees har aram the Customs figures is that, while multitade is so easily led by any Yokohama Speelo Bank, Members of Corporation dercantile Bank of Indis, (Continued on Page 8.)

that been on a large scale, the collections at Shanghai, Tientsin on salaries for the past year it was not to be expected that

The foreign trade of Japan for 1917 Hankow and one or two of the min bandit chief who has achieved Hongkong Claby Mesra Reis & Co

Silver should escape the effect exceeded all previous records and Southern ports show some.1 THE SHORTAGE IN STAFF of the genem rise in prices arising shows an excess of expore over im

ring the past year, those, THE CALENDAR.

repatation for

enterprise. Battarfeld and wire Ewa Janior We have only to loo -MEMO, FOR TO-DAY

Dramatic entertainment at oscarred in recet 3.15 pm-

Theatre Royal by Mr. A. P. Stokes bouring and members of the A.D.0.

BEMO, FOR MONDAY. Hongkong Jockey Clab Bases

Hongkong.. Feb. 23, 1918.

MARINE INSURANCE ASSOCIATION OF HONGKONG.

RACE HOLIDAY.

NOTICE IS HEREBY GIVEN that MARINE INSURANCE OFFICES will be CLOSED for the Transactions of Public Basins en MONDAY, TUESDAY and WEDNES instant DAT, the 25th, 26th and 17th at 11.45 m.

By Order,

AR. LOWE

Sorglary. Bengkong, Feb. 23, 1918.

HONGEONG AND SHANGHAI BANKING CORPORATION:

THE FINAL DIVIDEND

Chief Manager Hongkong, Feb. 23, 1918. ·-

SAUSAGES

SAUSAGES.

the

159

That cours

A Variety to suit all Tuates,

OXFORD SAUSAGES, CAMBRIDGE

PORK

BEEFS

LIVER

#

BOLOGNE HEAD CHEESE BLACK PUDDING. WHITE

Harmaton's, Cirens opens

ENERAL MEMORIEDI

AW. J. Dashwood

a terrible warning against letting

to

K

of the Okinase God

prov GICCESE clear

Australia and Chins; Netherlands

Meen Maton

at what has Mathesonde

Keyler olardine

Percy Smith such the neigh" Beth: Stewart in Brow Holland and

China Trading

American Exp

Bow

Toodes

Reserve Fund $1,000,000 Write of Bank Pre-

mises a/c " 1,000,000 and carry forward to

ว

THE PAST YEAR IN CHINA:

w

tion which is likely to be maintained same time in steering clear of finan- From financial point of view the

It is not a disability of which we cial trouble, has been arduous and past year was ever a more prosper desire to complain. Since the turu Bevere. Their labours in what I ous one for Chins than its predeces

lling.

Other British Banics and from the inflation of credit, based on other British Banks and ciary note issues of all the bell porte of Yen 480.928,000 or Ten bin, Antung and Dairen show

208,118,000 more than at the corentis increase the two latter are suffering from a short garent nations and to the urgent and responding period of the previous being in fact recreda. -

The net Salt Revenue co paid into the Group Banks during the 1917 amounted to 670,627 249%

A here has inlater

and for the "mw

yeur The total gure of Silver using countries,

porta Yen 1683,780,000 India. During the year 1,093,807,000 bei

from

of 42 per cent and

while

les and im

of $10

tribu

me Curi