1923-10-19 — Page 5

PRIDAY OCTOBER 19, 1923

COLONY'S NEEDS.

(Continued from page 4.3

THE CHINA MAIL.

TO-DAY'S NEW ADVERTISEMENTS.`

NOTICE:

THE HONGKONG & CANTON ICE MANUFACTURING CO., LTD.

NOTICE TO-SHAREHOLDERS,

ORDINARY

cert in very extraordinary circam-THE SECOND

ANNUAL MEETING of Share- st inces. The consequence is that Hongkong's individuality has been holders in the above Company will stunted in the past, and we are he held at the Company's Town reaping the disadvantage as our Office, 2..Lower Albert Road, Hong. Government machinery is unable, kong. on MONDAY, 5th day of and has been for some years, to NOVEMBER, 1923, at Noon, for the cope with Publice Works Extra- purpose of presenting the Report of the Directors and Statement of ordinary.

Accounts to 31st JULY, 1923.

is that the investments in Sterling | for full power to invest our surplus have luckily risen in value and the money as our Oficials, with the exchange bus gane down, which approval of the Unofficial Men- more than covers the loss. This is a bers, may think fit. The previous gamble pure and simple, and how-fatherly attitude of the Colonial 'Opium Revenue.

ever lucky they may be at the mo- Office has been very stern and safe in dealing with its Hongkong son. The original justification some ment I do not agree with such years ago for these taxes was that policy and still consider the loan It has not allowed its son to launch This should be paid off. The bogey off out on his own, as its uncles and the Opium-tax would cease. has proved to be false, but what the Military Authorities claiming cousins have been allowed to do, bas proved to be true is the public's more because the loan is paid off in by borrowlags to enable .capital. ability to find fresh taxation when i total instead of by instalments rloes expenditures to be logically spread necessary, even to a greater extent not seem fair to me. As far as over their estimated usable life, ex- than that derived from opinn We can see, they are for some reason lave for some years, and especially, amking us an allowance for $76,000 recently, read a lot of hypocritical year until 1938 in exchange for a gush in speeches in Europe by $3,000,000 gilt in 1916. Surely, it representatives of certain interests only logical to suppose that if we discount this allowance at 5 per ed nations on the subject of opinos cent, for the remaining 5 years in - prohibition.

His Excellency: Order, arder. the 1924 Estimates they will be gind I cannot allow the hon. member, to receive $76,000 a year more than speaking in this Cancil, to insult they expected to get in the follow- the representatives of a friendly years to 1928. It is asking. Power, We mist at least give nething of the Government to The alter their finance arrangements, term "hypocritical gush cannot but our surplus fonds are abormal, be used in this council in relation which is my justification for doing to the utterinces expressed by the so. It will also simplify the ac representatives of a friendly Power, counts, and our credit as a borrow The Lion, Mr. Lowe said he was¦ But power (when we require to be willing to withdrew, the word come one) should be enhanced by showing we can pay off borrowings hypocritical."* H.E. The Govermne: If the hon.before their time, especially with ember substitutės some such phrase as "erroneous views, its most countries are forced to do will mert the case.

them credit for himnesty.

The Hon Mr. Lowe assented to

the correction.

ances,

out the necessity of re-horrowing

Coming now to the

financial

Sir

The Transfer Books of the Com

pany will be CLOSED from 29th OCTOBER to 5th NOVEMBER 1923, bath days inclusive.

By Order of the BOARD OF DIRECTORS,

M. MANUK,

Hongkong, 19th October, 1923.

Secretary,

HONGKONG VOLUNTEER DEFENCE CORPS.

PROMENADE CONCERT.

TO-NIGHT 9.15 PM. Admission $1.-

AND

H. K. V. D. C. PIPE BAND.

DANCING.

PALACE HOTEL,

KOWLOON.

THE BAND OF H.M S. "DIOMEDE"

play at the above Hotel on SATURDAY, the 20th inst.

DANCING 9.15 P.M.

PUBLIC AUCTIONS.

THE Undemigod have received in

structiona frm Ma, C. A. Sachao to shll by Public Auction

on

-TUESDAY, 0otober 23, 1023, commencing at 2.30 pm. A Quantity of Valuable Household Furniture,

Catalogues will be inued.

Oa View from Monday the 22ød October 1323

Terme-Cash on delivery,

LAMMERT BROS.,

ductioneers. -----

THE Undersigned bave received instruc tions to sell by Public Auction,

01

THURSDAY, October 25, 1033. at 2.45 p.m.

nt No. 2 Observatory Villas, Kowloon A Largo Quantity of Valuable Housebold Furniture. Comprising --

Teak bat atand, plush covered ensy chnim, teak extension clining tabla and chain, tenk side board, curtains, crockery, glass way", ntc,

Toak bedsteads, teak wardrobes, teak dressing table and wash stond, mantlo clock, toilet set etc.,

Also

One Cottage piano by Rachals & Co., On View from Wondruday the 24th October 1923

Catalogues will be issued Terms-Casb on dolivory.

LAMMERT BROS.,

on

Auctioneers.

THURSDAY, October 21, 1923.

commending at 5.15 p.m.

at their Salon Rooms, Duddell Street.

A Valuable Collection of

Postage Stamps

Catalogues will be issued.

On View from Wednesday the 24th October 1923

Torma :-Cash on delivery.

LAMMERT BROS., Auctioneers.

Hongkong, 19th October, 1923.

THE

BLUE

The Queensland Loan. Arising out of what I have tst said, we find out that this year the Crowa Agents have, without so) much as "by your leave," started to invest our over taxation in Queensland Stock and are still buying. Personally, I have no quarrel with Queensland: From all accounts it is a very rich unde- veloped country over five times as big as the British Isles but with a population of only '700,000, which is roughly what Hongkong alone possesses. The Colonial Office, Inscribed Stock Loan £1,485,000 ver it, and a justly celebrated late presumably, exercises some control

at 3 1.2 per cent.

Governor of Hongkong, The Hon. Mr. Lowe: Recent This is repayable in 1943 at par Mathew Nathan, apparently rules events indicate that a more fit valtio lend it is quoted in the London over its destinies at half the salary is now being placed on such utter Market at HI or treadouts. The we were pleased to pay him here. and I trust that your possibility of buying it brick be- Perhaps rightly, so they have been Excellency's most excellent_re- cause it is too tightly held wants allowed to borrow £85,000,000 for BAND OF THE KING'S REGIMENT marks on the need for the fax and some believing as the price has Public Works Extraordinary or the impossibility of withdrawing risen from 66 at the end of 1921, over £100 per hem of each in- it under present conditions (which, and how the Goverangat ranknow habitany, and rumour is they are Show no signs of likely alteration) this without having referred to the going to London for more soon. will impress on the Honourable Crown Agents, I don't pretend to' Against this their Sinking Funds Colonial Sreretory that his reply įknow. It serms strange we can arc lower than any other Australian to my question on the same day to buy Queensland stock but not Colony, none of which shines much the effect "that it is certain the i Hongkong stock. However, assume in this direction. large revenue derived from the ling there is some truth in this; What I want to emphasise here. opitium tax must entirely cease in assertion and that we either don't, is the differential treatment against the near future" was not justified, want to pay off, or the holders Hongkong. Is it the Colonial and therefore his denial of over won't be paid off, the fact remains Office, or the whim of own Officials, taxation falls to the grand. we have the money in Surplus which force us to be treated like fands to do this and the next best irresponsible children? The irony Cony's Balance Sheet.

thing, in my opinion, is to pay it of it is that we irresponsibles are will The Colonini Secretary also said for rather wipe it off our books by forced to lead our money to help that implied that Land Sales transferring so much of our free in- our, to my thinking, audacious should balance Capital Expendi- vestments in British Government, cousins. The Government ao- ture. I never said or implied any- Stock to the Sinking Fund as will miners in the Upper House in thing of the sort, but will agree be sufficient to balance the account. Queensland were discharged last that Fund Sales plus-borrowing on In other words, the debit side will year and the Governor alone pre- Loan should eqrt Capital Expen- show the loan outstanding at sides over the, Executive Council diture, and then any difference be£1.485,000, and on the credit side of elected Cabinet Ministers. The tween the other receipts and pay-"Sinking Fund Investment at cost, Legislative Assembly (which ments will show whether we are £1,485,000." The effect would be a corresponds with our Legislative under or over taxed each year. record amongst the list of Gover- Council) is composed of 72 elected The Government figures show that ment Investments in the London Morabers and every man and under such a system Ordinary Re¡

papers: further, our woman in the Colony has a vote. venue has been over-raised by mouths will be less inclined to A recent article in the National about 15 per cent, ia 1920, 20 per water at the sight of a lesser ligh Review on Queensland refers to it cent. in 1921, 23 per cent, in 1922, surplus than the June figure of as "a Bolshevic corner of the Em-: 18 per cent in 1923, and they are $15.307,000 and a reduction in the nire," and supports this descrip- now asking for 15 per cent in hottied-up rage at not being allowed tion with facts. 1934, 2mounting to over $3,000,000 to get at it. In addition, our ac

Backing His Fancy. The Government were asked by counts would be simplified and the There are a number of Euro- me last year to slightly alter their estimated expenditure of $999,603 peans in this Colony who think form of Revenue and Expenditure for Interest and Sinking Funds they ought to have a vote, and that Account which hides this states of would not be required. It is true the European Goverment nominees affairs from the public. They that Interest receivable $650,000 on the Counell (of whom I happen carefully show the Revenue, ex would not be solarge, but the com- at the moment to be one) should clusive of Land Sales, which is pensation for this is that we be abolished. It is a very modest quite right; but they mix up shouldn't have to pay the War progranime and I am heartily in. Capital Expenditure on the other Office 20 per cent, or $130,000 in agreement with it. We find the side of the Account amongst Gen 1924, for the privilege of keeping Government Officials' of Hong- eral Expenditure.. It is neither our accounts in the present foro, kong are very much averse to the logical nor fair and should be If this saving is effected it must be Constitutional Reform Association altered. Regarding the Colony's decisied on before the end of the of Hongkong. They frown and balance shret, there isn't present year.

look down on it at every oppor As I have reminded

tunity. Perhaps the reason is that You already, His Excellency

I am very glad to see the Governmost of them enjoy their weekly Officer Administering the Government likened the Government have in one instance taken to holiday afternoon at the Legis

Council meetings, but ment to a public company, but I heart my argument last year that lative

"tip" do not know what the share the Colony would be richer for if you, Sir, will take a holders of, say, our leading Bank employing its suplus taxes locally from Queenstand it would not Officials ໄດ້ would remark if the Directors sent instead of investing in London. I be necessary for out the 40 or so lists of Assets and refer to the $400,000 7 per cent, leave their offices, as a recent law Mortgage in Chinese Estates, Lid makes the Queensland Govern Liabilities of their Branches with An extension of this policy is ment safe from defeat even on a the intimation, that shareholders could make up their own General desirable, as it would fulfil the re-snap division, as the leaders carry Balance-sheet if they wanted to commendations of the Housing their followers' proxies with them find out whether the Bank was Commission for Government assis and vote for their supporters if they solvent and how much there was to tance in the laying out of further happen to be absent. My argument pay a dividend. However, I have land to meet the shortage of houses.merely amounts to this, if the I see from the June, 1923, Government puts its money on the supplied such a Balance-sheet to the Government for each of the accounts that particulars are given Queensland horse it must have yeurs 1921 and 1922, bringing into of the Colony's investments cos- some faith in its strength and stay- accouat our Loans outstanding and ting $6,105,744, from which it can ing power. My particular fancy is be calculated that the market price the Hongkong colt, and if you are Sinking Fund investments. These show that, without the Shipping had risen to $7,369,000 at 23, which going to use Hongkong and Kow Control profits, we could have paid is very satisfactory though I don't loon money I would prefer it on off all our liabilities and still been quite approve of the £41,000" Hongkong" to "Queensland," From recent j and even if you are not in agree. $800,000 to the good at the end of Government answers it appears ment with me I merely ask you to

Queensland Stock. 1921, whilst at the end of 1922 we

that the larger sum of $7,580,911, give us some fant all, for conditions could have paid every penny we

Crowa are somewhat different) of the Domestic Occurrences owed and been $4,900,000 to the under the heading of

is advantages you are willing to give Whist! Whist !. good. This is the state of affairs Agents Deposit Account," after spending many millions out not what it appears to be but the Queenslander. of Revenue on Public Works and is another Investment Account Perhaps I am blaming the Gay- Leading Articles Railway between 1900 and 1922 representing short Loans, etc., and crament unjustifiably if they clrim Local and General

Iam glad my colleagues have asked to be innocent parlies to their own Sucial and Personal fora statement of these from which, bet and that the Crown Agents Discharged ................ when published, I trust our local and the Under Secretaries for the The Seamy Side..

one.

the

With reference to

$3,000,000 War Loan.

Colony's Investments,

BIRD.

樂

HONGKONG'S ICE CREAM PARLOUR, -

NOW CPEN FOR BUSINESS

IN THEIR

NEW PREMISES.

YOU KNOW US-SUFFICIENT. &

CORNER OF

QUEEN'S ROAD

PEDDER STREET.

AND

OVERLAND CHINA MAIL"

Contains all the News of the Week.

PRICE

.22-24

7:

ENGLISH MADE

5

FOOTBALL BOOTS.

$9.50, $12.50, $16.50 per pair.

THE

MCGREGOR

SPECIAL

CLUB DISCOUNTS

SHILLCOCK FOOTBALLS.

From $8.50 to $15.00 complete.

SPORTS DEPARTMENT.

LANE, CRAWFORD, LTD.

THE MUSIC of

"YES! WE HAVE NO BANANAS"

YES! we have no bananas; we have no bananas to-day,

This song isn't pretty,

But still it's a ditty,

That grows on you day by day.

And you can all do something for us

Just join in the chorus.

YES! we have no bananas; we have no bananas to-day.

AT

ANDERSON'S

WINTER IS COMING!

IF YOU NEED A DEPENDABLE RUBBER HOT WATER BOTTLE.

CALL & INSPECT OUR STOCK.

THE CHINA DISPENSARY.

82, QUEEN'S ROAD CENTRAL.

HONGKONG DOLLAR DIRECTORY

IS NOW ON SALE AT THE OFFICES OF THE PUBLISHERS, 5. Wyndham Strest, Hongkong,

AND

KELLY & WALSH, LIMITED

CHATER ROAD,

Price $1.

THE DOLLAR DIRECTORY CO.,

25 cts.

PER COPY.

CONTENTS,

PAGE

PAGE

1

Shipping

.19

I

Hongkong University

.20

18 Canton Conditions..

20

8 Rowing in Hongkong.

.21

8-9 Kidnapped.

.21

9

Colony's Needs..

9

Accident.

24

10

Obituary

..25

.30

Dead

..10

8. 8. "Tai Waifsong".

..25

.10

Reef for Japan.

26

DCL

.10

Peakiten Beware.

.26

.11–12 | Peking Politics..

27-28

.12.

Mutiny and Piracy

28

.12

Art and the Young.

.12.

Shot

.13

Hospital Donations.

.13

Morality

.28 .20

.13

A Vilanello..

.14

Sale of Work...

Empire Exhibition.

14

Becco Portuguesa

.14

Not Only Orzamental.

20

..14

Sport

31-33

Pisullers Compor

..14

Harbour Raco

..15

Astor House Sued

.$$

.16-17 Labour Dispato.

.34

Two Bobberies...

31

.17

Arms....

.84

17

Exchange

.34

.17

Local Bhare Harket

..84

A Bad Liar...

ab

„18–19 | Péádé, Příze $1,500.

.SK

19

-- [8t. John "Ambulance.

..95

I have pointed out that, accord-Bankers and financiers can see Colonies between the Straits and Steeplechasera' Needs. ing to the Ordinance, this could whether they can offer better Weshai-wej (Messrs. Collins, $1,0001· Fine...... have been paid off on and after terms, Presumably, the Govern- Becket, Pashim and Gent) also Wanton Crucity November 3, 1921, if there had been ment have not particulars, other did not know what they were Charivaria... surplus cash to do so, which they wise they would have given the doing. If this is so, then I think it Tools ..... had in pleaty, and also that the information regarding names of is time the Hongkong Government

Correspondence Government were losing by may-borrowers, amount, rate of interest managed its own affairs and an- ing out 6 per cent. on the loan and and period, in the same manner hinually invited one of these gentle Coloy's Health

Hongkong to oiake sure Joltinge from Macao getting less on the Sinking Fund which the other more permanent men

they do know when they advise Health Case..... investments. This latter fact is investments are stated.

I am glad to note that since I anything that Hongkong is an Sports Nuwa....... denied by the Colonial Secretary, but the Government accounts show called attention to the matter the actual spet with a strong dash of Easma Club... that of some $1,800,000 there is in Colonial Office has kindly allowed red in it, and red as good as their Colofa Y Opmra vested in the Sinking Fuad us to keep up to $2,000,000 with own and entitled to reasonable German Traders $400,000 at 7 per cent., $500,000 local Bankers, if our Officials think treatment. at 6 per cent, and $900,000 at 5 per it desirable, in place of $700,000 in cent, which only averages less than past years. Perhaps quite rightly, 534 per cent. The balance of the Han, Colonial Treasurer has $1,200,000 unprovided for in the not availed himself of this privilege coniferous hardwood which is a Fire at Canton. Anyhow, Sinking Fund may be said to be to the fall.

it white ant resistant and is therefore Hotel Merger Colonial covered by the $500,000 in the shows the

Office is used for common housebuilding Changaba " Stranding Bank carning probably z percent amenable to reason to some purposes-It-would-be-a-great-Hongkong-Trade---- and the rest in other Sterling in extent when called upon to thing for Hongkong if our "affore- Our Literary Lobby vestments such as 4 per cent exercise it. I now want to go station Department" could manage Lobal Boring Finding Loan, which only brings further, as, having previously to indigenize such a tree and save gifsnes is Golden... in. about 4 per cent, and this shown we have cash laid aside future architects and 'contractors

Hinpress Hotel Ltd. average will be further reduced as much more than sufficient, to pay much wasted effort and house- the short loan investments will bear off our local and Londot, borrow owners much expense. mich lower interest. The excusp logs, I think we are entitled to ask.

I will say this for Queensland, Polloo Belt.... and that is they can grow a Cypress pine yielding an aromatic The Typhoon

Continued on page 8.);

B. H. Y. Club, Training Season;

KDINBURGH.

"D.C.L.”

MALT EXTRACT

with

COD LIVER OIL

Is mudo from the finest

selected Farley and inalt- ed with the greatest care on the Company's own premises by the most. scientific methods of

manufacture.

THE DISTILLERS COMPANY, Ltd.

EDINBURGE

Price per 1 lb. Jar (bu

12

#lb, Jar

BOLE AGENTS:

$1.00 1.80

GANDE, PRICE & COMPANY, Ltd. Tel" Uentrar No 135. 8, QUZEN'S ROAD, JUN (BAL,