1926-04-27 — Page 1

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No. 19,785

BRITAIN'S BUDGET.

PROSPECTIVE DEFICIT OF

SEVEN MILLIONS.

NEW TAX ON BETTING.

(British Wireless Service);

Rugby, April 26. M. Winston Churchill, Chancel- For of the Exchequer, introduced his Budget Lurdos. He said that last year's finance showed a sur plts of £6,000,000, but this had been converted by the coal subsidy into a.defleit of £34,060,000;

Forecasting the revenue for the current year on the existing Basis he estimated it at £804,700,000, il estimated expenditure £8,12,600,000.

The prospective deficit would thus be £7,000,000;

ESTA

18

HONGKONG, TUESDAY, APRIL 27, 1926.

HIDDEN HAND,

ATTEMPT ON DISTINGUISHED LAWYER.

FAMOUS TRIAL. ECHO.

(Reuter's Servios.)

Geneva, April 26,

COUNSELS QUERIES.

CONTRADICTIONS ALLEGED IN ANSWERS

CASHIER'S EVIDENCE..

PRICE, $3.00 Per Month.

MOTOR OFFENCE.

MISUSE OF A WARNING, DEVICE.

"A PUBLIC NUISANCEL"

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RENT VALUES.

WHAT DO LOCAL FIGURES PROVE

COMPARATIVE LIST.

not.

Features of this morning's

Among traffle prosecutions it. Figures may be made to prove hearing of the Wing On Bank

anything, some say. Whether case were the apparent contradicthe Central Magistracy this morn that may be so or not, the follow- tions in the witness box of Kwoking before Major C. Wilson, the ing list will have its interest for An abortive attempt by an un-Woon-kwan, cashier, ender a driver "of a European-owned car a great many. It la of compara known individual supposed to be a cross-examination Elsley was summoned for continually tive rentals in different parts of Slave has been made on the life of Zeitlyn, which occupied the whole sounding a warning device attach the Colony and has been compiled

by the "Kung Sheung Yat. Po". Aubert, the distinguished lawyer, morning.

The cashier of the Wing Oned to the car while standing at Firstly it should be pointed out who defended Polunin and Conradi, who were tried for the murder of Bank first of all stated that when Chater Road near York Building that sizes, areas, etc., are Vorowsky in May. 1923.

asked by the managing director Accused denied the charge,given, nor are rates (inclusive or In the of the bank, wher enquiries were stating that the sounding was exclusive) mentioned. payment of excise duty on beer instituted as to the account under done by another man while he vernacular, property coming: under He which it is alleged that two Chin-was away on the top floor of the Bents Restriction Ordinance is classed as "old" and houses, not. would collect thirteen months re-ese endeavoured to defraud the building venue from beer in this financial Bank of $50,000, he told the

Mr. G. V. Hughes, manager of within the scope of the Ordin- are described as "new."" year

managing director that the man Messrs Loxley and Co... tu..ace French Debis.

who opened the account and later stated in evidence that a conver. Hence the appearance of these two drew the money was a man of 40 sacion he was having with Mr words in the table. years of age and wore glasses,

F. P. Franklin at about 10 o'clock Later he stated that the man in the morning was continually in who opened the account and with terrupted by the wound which had drew the money was a man of been going on for shout twenty about 28 years of age.

from three months te two.

....

T

ance)."

"Windfall From Belling. Turning to the French War Debt,

It will be seen that in every case He had caused in examination to Mr. Churchill said that many be made of luxury taxation. The changes in the French Ministry and

the "unrestricted" property Government had decided to impose the political situation in France

fetches, more rent (presumably. a tax on betting. Credit betting bad delayed the final conclusion of

per month). In the list, this was legal everywhere, and eash the arrangement come to with Mr.

minutes. On looking out witness new class is specificially describ- bettinig was legal on the race Callaux. He had good 'resson, His explanation of this apparsaw car No. 489 and a handed as "houses which have been codise. Only such legal betting however, to expect a visit from the ent contradiction was, that he had pressing the device, but the hood (altered) and reconstructed (to would be taxed. "The tax would be French Mindster of Finance very meant to say that a certain foki being up he could not say whether bring them outside the Ordin five per cent.

The tax was ext shortly after the Budget, and he in the employ of the bank who was accused was, the man who was mated to produce £8,000,000 in a had received from him assurances stated by the managing director actually there.

Describing the act as a public ful year, but this year it would not that, without prejudice to the of the bank to be like the man operite antill the close of the flat-impending settlement the French who opened the account was 40 nuisance, the Magistrate imposed racing season and would not yield Government undertook to make an years of age and that he had re-a fine of $10.

unconditional minimum payment aplied to the managing director 24,000,000 during the current that the fok could not be like A duty would be placed on wrap-financial year. This step showed that man because the man they ping paper. This would operate a desire to arrive at a settlement. were discussing was 28 years of after May 1 and was estimated to and was a good augury for the product $100,000 in the first year undi 2560,000 in re dull yea rate would be 16 2-3 per cent.

more than £1,500,000!

לבנו

Wrapping Paper..

Cover

The

ad valorem.

Commercial Cars, Hg had decided that the McKenna cuty

imported motor-eurs shouit

commercial cars, This extension of the tax would vield £300,000 in the first year and | £360,000 in w full year. It could nos be justified within the limits of the safeguarding of industries palley but the line of deviation between the comptercial 'car and the pleasure car was wavering and nebulous, and it was becoming in [ereasingly difficult to separate one from the other. It would come into force on May 1.

Key Industries...

The Government proposed to; res Impose that part of the Safeguard- ing of Industries Act which was called the key industries duty, which otherwise would lapky this senr. These industries were essential in national defence..

Export Duties.

The Export Committee had re- vised the duties.

coming discussions..

Final Balance Sheet. The national, balance sheet was considerably improved as result of the items which he had enumerated He started with a prospective defieit of £7,900,000, and this had been converted by these items into

age.

Under eross-examination wit. ness stated that although he had not retained a clear impression of the man who presented the book at the Bank and later withdrew,the, withdrawal.. he was certain that it was not Au Kim-Jut, the first defendant.

Witness later contradicted

a surplus of £14,152,000 No re-himself with regard to the nature mission of income or any other tax of the book on which the with was, however, justified

drawal of the $50,000 deposited had been made.

In conclusion, Mr. Chancellor said that he proposed to increase the sinking find this year from 250,000,000 to $80,000,000.

PIEBALD PICTURE:

Country Obstinately Depressed.

(Reuters. Service.)

London, April 26. In introducing the Budget Mr. Winston Churchill regretted that Customs and Excise had fallen

Mr. Zeitlyn: The mone on the 3rd and 4th of May was with drawn on a forged document, was Fit not?"

Witness: No. on a genuine document,

The exhibit "Emma" was, then handed to witness and he was asked whether it was genuine..

Witness: Some parts of it are forged and some are genuine.

Mr. Zeitlyn: Was the money withdrawn on that document?

Witness: Yes..

short of the estimate by £1,000,000.. It was then pointed out to wit:

The nation was richer than a year

The modifications were most prosperous and

tions. however, were sight, and would yield an additional £50,000 revenue this year and in a full year

· 260,000,

With the exception of opties) glass, which was increased fifty per cent. and other small additional duties, it was practically the old duties re-imposed, but they were re-imposed for ten years.

Rond Fund.

Turning to the road fund, which

"

ago, but, whilst general trade hasness that his answers were con steadily improving. Important sec-tradictory.

The attention of witness was large profits had been made from drawn to the writing on pages 3 rubber and tia basic industries, the and 4 of "Emma" and asked if it country was mostly obstinately was in his handwriting. depressed. The picture was t black, nor gray. It was piebald, with the dark.patches, less pro- minent than last year.

Witncks: It looks like mine. Mr. Zeitlyn: In what way does it differ?

Witness stated that the dots on the "i's" were not as he dotted The estimate of inland revenue them. He wrote them flowingly was £1.000.000: short and Income-not as written there.

Extimates Short..

is provided by moton-eur. licences, provement in stamps, Mr. Churchill said that the revenue

....

The article in the Chinese paper states that rentals for both "old?" and "new" property are lower than of June, 1925.

In the course of his inquiries the reporter of the "Kung Sheung Yat Po" ascertained that in the Witness: I was not examining majority of cases presuming This features.

that he is confining himself to Mr. Zeitlyn further pointed out Chinese tenementa and shops that the assistant cashier had landlords of "old" property put stated that witness had not apoken on the 15 per cent, increase per- to the depositor on the occasion of mitted as from July 1, 1925; whereas owners of "new" property The case is continuing.

lowered their rents by from 20 to Concluding Evidence Yesterday. 30 per cent., in response to re-. It should also be noted that the Concluding his evidence yester-quests by their tenants. day; Prof. Shellshear said he had examined many books with the class of tenement is not given in aid of transmitted light and he the table, this being a very im had found on none of them the portant factor in determining the conditions the found on the label, earning power of Chinese property of Nina He had Ho doborghong The list folows that the label on "Nina" had at}

Central District. one time been on "Emma."

not

Cross-examined by Mr Zeitlyn as to his methods of taking off the labels, witness said he had tried steaming, but was. successful in any instance...

Witness was handed a label and a deposit book and asked if he had any doubt that it was taken oTa by means of a wet piece of blotting paper. After examining the book witness replied that He had no doubt the label came off that particular book and it was quite conceivable that it was taken off in the manner described by

counsel.

Asked how he knew the label belonged to that particular book, witness said he found five märks which enabled him to get an alignment and showed where the label had been.

w

Kwok Woan-kwan was next cashier of the bank in 1923. Handed the book "Emma" he said the signature there "Kwok Woon- kwan" was not his. The octagon chop produced was the chop of the bank, the only octagon chop they had and the only one used for this. An "Auxious" Depositor." Witness was also cross-series of deposit books. examined as to the nature of the interview when the final with drawal was made.

tax £2,500,000: under the estimate. Mr. Zeitlyn pointed out to wit-called "He said he was chief This was partially effect by an imness that on two occasions on pre- sentation of the books he had had The most striking feature was this writing before him and had of that fund was growing rapidly. that death duties were £5,250,000 failed to see any difference He estimated that the existing below and the super-tax $5,250,000. Money had been paid out on them, motor Hicence duties, which were above the estimate. The increase if witness's evidence was correct. designed in 1920 to produce about in the super-tax was due to stricter £8,600,000 would yield next year no and more efficient collection. less than £20,000,000; which was

Coul Subsidy Blumed.

Regarding two books which he more than 42,000,000, over the in- The annual non-taxable revenue

had not mentioned in his evidence in the Police Court; witness snid creased yield of last year. There had increased £15,000,000 over the was also a surplus of nearly Estimates.

He was asked why it was that regarding the two books in ques £19.000.000

reserve. He

There would have been a ne he had refused to allow depositortion, on which the firm was propused that the Exchequer should surplus over all increases in exto leave a balance in his book of swindled, he was told by his em- but to keep them secret so that if take £7,000,000 of this existing penditure of nearly $5,000,000 but $1,000, thus alowing depositor to ployers to say nothing about them. surplus..

for the coal subsidy, which alone keep the book. was responsible for a defeit of Witness replied that the agree the people presented them at the He proposed also that the re-

ment had been that the $60,000 bank they might be arrested venue from motor taxation should £14,000,000,. by divided in future between the Mr. Churchill emphasised the re- was to be left at any rate for 14 That was three years ago. These road fund and the Exchequer en markable achievement in debt re- days and that when these large instructions were not given in the broad principle that all that duction. The total diminution in withdrawals were made he told connection with the present case was raised to pay for wear and the past six years had been the depositor that an account of and he was sorry he had forgotten tear of roads should go to the roads. $75,000,000 annually, which per that nature was no use to the to mention them. and that what belonged to luxuryhaps, was some repayment for our Bank. or pleasure aspects should go to immense efforts. He could only the State. Consequently, the Ex-Bay: "Let us perseverel".. chequer would in the financial year take one-third of the yield of duties

£7,000,000 Saved.

Mr. Zeitlyn: But you have ac counts with far less aurns than $1,000

In cross-examination, wit the said he was now cashier for the whole firm and not just the bank department.

Inspection Invited.

Showroom: 21, Wellington St.

Tel; C. 1483.

At this stage the case was The total estimated expenditure Witness: Yes, but the money is un private motor-cars and cycles. was £812,500,000 against £799,500,-left in and not withdrawn in a adjourned until this morning when Mr. Zeitlyn will continue his SCOGPUDUQoor goboDDDD

The Exchequer

receive 000 estimated and £826,000,000 few days. would

actual expenditure last year.

Witness was also naked as to the cross-examination, E

Mr F C Jenkin, appears with QQQQQQQQQQQQQQQQQQapproximately £3,500,000.

The yield from commercial The new Estimates included nature of the conversation be TANG YUK, DENTIST,

vehicles would all go to the 'road nearly 219,000,000 new additional tween himself and the depositor Mr. HG. Sheldon for the prose- fund: The duty on heavy vehicles expenditure arising either from the with regard to the continuation cution (both instructed by Mr. of this class would be lacreased, automatic growth of pensions or of the account and he stated that Bulmer Johnson, Hastings, as they put a great strain upon decisions in policy. Last year the depositor was very anxious Dennys and Bowley) Mr. C G roads and were not paying theif there have been a net reduction of that he (the cashier) should allow Alabaster and Mr. Baley Zaitlyn fair share. The increase would £7,000,000 administrative services him to leave some money in. The instructed Mr. G. K Hall go to the road fund and would including £4,000,000 on armaments depositor remained some quarter Brutton and Mr. Leo d'Almada) largely counter-balance the trans A further continuous effort was of an hour, trying to persuade appear for the respective pri- fer to the Exchequer of a portion necessary, and Mr. Baldwin bad witness to allow him to keep soners, of the duties on private motor-cars authorised him to say that the $1,000 in t

Cabinet Committee on

&M Zelflyn And you had this and Eycles

observation fór a quars Beer Credite.

would continge ifs

and say that Mr. Churchill said he proposed the Estimates of the to save £5,500,000 by reducing services would

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TODAY'S DOLLAR

The closing rate of the dollar con demand to-day was 2/2 9/16.

Dub Voeux Road Central: No 111 (old, 4 storeya), $450. No. 88 (new storeys) $700.

!

No: Des Voeux Road Central: 256-fold, 4 storeys) $195. No. 284 (new. 5 storeys): $983,

Western District.

Des Vieux Road West: No. 203 (old, 3 storeys) $180. No. 212 (new, 4 storeys) $300.

First Street: No. 50 told, 3. storoys) $86. No. 45 new. 4 storeys) $140.

Second 'Street: No. 52 (old, 4 storeys) $90.10. No. 45 now; 4 storeya) $220.

Third Street: No. 40 (old, 2 storeys) $75. No. 42 (new,:. 4° storeys) $134.

No.: 2801 No. 283

Queen's Road Easte (old, 8 storeya), $145. (new, 4 storeya) $220.

Eastern District. Wanchai Road No.. 12 (old, 2:

Cross Street: No. 7 (old, 4 storeys) $65. No. 107 (new, 4 storeys) $150.

storeya) $270. storeys) $149.50, No. 2 (new, 4 Tai Yuen Street: No. 11 (old, 3 storeys). $73. No. 19 (new, d storeys) $135.

Stone Nullah Lane No, 83 (old, 2 storeya); $43.70 No. 78: (new, 4 storeys) $180:-

Queen's Road" East: No. 177 (old, 4 storeys) $98. No. 200 (new, 4 storeys) $250.

Shamshiupo. Lai-chi-kok Road: No, 71 (old, 3 storeys) $57 No. 76 (new, 4 storeya) $90.

Keelung Street: No. 71 fold,, 8. storeys) $42. No. 51 (new, 8 storeys) $180.

Nam Cheong Street: No. 80 (old, 8 storeys) $96.70 No. 104 (now, 8 storeya) 150

Mongkoktsui

Shanghal Street: No. 434 (old, 8 storeys) 860 No. 489 (now, 4 storeys) $175,974 Yaumati

Reclamation Street No. 197 (old, 3 storeys) 90 No. 138 (new, 4 storeys) $312. Bund

Shanghai Street No. 285 (old, 3 storeys $120, No. 281 (now, d storeys) $200.

Tenants Association. The Tenants Protective Ass0- clation is now framing a petition, with legal assistance for present ation to the legislature, to ask for the retention of the whole or part of the Renta Ordinance it having buen razetted that the law willbe allowed to lapse on June 30, 1920% Signatures and chops will be canvassed in due course.

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