1928-11-10 — Page 1

NEW 1923

GRAHAM-PAIGE SEDAN and TOURING MODELS

Touring from $2,300-Sedan from $2,550.

Sole Distributors for Hong Kong & South China:

KOTEGATE & CO.

Pedder Building, 3rd floor. Telephones C. 93 and C. 741.

China Mail

No. 26,024

"SHARKS AVENUE".

THE ICE HOUSE STREET PANIC

JUMPY AS CATS"

Ins And Outs Of Brokerland

1925 AND NOW

[By a Former Speculator]

"As jumpy as cats on hot bricks" and "us pugnacious as a bull- dog encountering a mastiff" were two of the expressions I heard this week in relation to the stock and share brokers following the sensa- tion of one of that community being incarcerated in the debtors' jail in satisfaction of a Court judgment.

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HONG KONG, SATURDAY, NOVEMBER 10, 1928. PRICE $3.00 Per Month.

AIR FATALITY AT BROOKLANDS

1,000 FEET FALL

LOCAL SHIPPING COMMISSION

RIVER TRADE

COLDSTREAM GUARDS' OFFICER STATUS OF GOVT. CERTIFICATES

THE VICTIM

BRIGADE'S FIRST MEETING

TO BE PROBED

JARDINE'S THIRD CENTURY

"Your Eyes Are Safe With Us”

LAZARUS

Hong Kong's Only European Optician. We grind our own lenses Accur ate repair work, highest grade lenses, friendly, courteous service. Manager:

RALPH A. COOPER, Registered

Optometrist (Canada).

F.I.O. (London),

IS THAT SO?

Thoughts Terse, Perverse-and Worse.

"Missing Soldiers Found." Found what-mlasing the bull's-eye?

We see

IN AUSTRALIA

TEST PLAYER MAKES 140 AGAINST NEW S. WALES

CREW AGREEMENTS

ENGLAND DOING WELL

London, Yesterday, To-day's "Gazette" announces the

London, Yeateday. Lieutenant G. H. Madocks, of the appointment of a Commission to

Jardine scored his third succes- Walks Out."

a headline, "Lord X consider various shipping activities sive century

With whom? Coldstream Guards, was killed this relative to the Colony and "local", cricket team landed in Australia rince the English

afternoon when a single-seater rivers.

when he made 140 to-day against because he liked to see the firemen A boy used to set fire to buildings aeroplane, which he was flying at The personnel comprises:-- New South Wales. The brilliance)

..... Mr. Mo has wired Commander Joseph Bernard of this achievement made a great at work." the first meeting of the Household

offering to adopt him. Newill, DS.O., R.N. (Retired), Impression on Australian critics Brigade Flying Club at Brooklands,

Lieut.-Commander Lewis John and the crowd. crashed from a height of 1,000

Pitcairn-Jones, D.S.C., R.N.,

"House and chop for sale. His other centuries ! feet.

Lieut. Commander Thomas against Western Australia and 104 cially adapted for baking."

We loathe baked chops. Turnbull Laurenson, D.S.C., "gainst Victorin

At the close of to-day's play against New South Wales

*£150,000 Contract." the English team had scored 372 for 'Even ten bucks contracts quicker three wickets. Hammond was 96 than we like. not out-British Wireless Service.

+

The Club was formed for officers Guards, who

The man who used the phrases is specially qualified by his posi tion and his knowledge to voice an opinion. He has been closely of the brigade of connected with the brokers and is in possession of much other in-wished to take up dying. Several jofficers own aeroplanes.-British' formation that can provide a dozen bombshells.

Wireless Service.

Which causes me to review, in the confines of this article, the business belonging to lee House-street but which has migrated in part to Exchange-building.

UNEXECUTED WARRANTS

That panic prevailed this week there was not a doubt. More than one engaged in shares kept away from his office unt}] the storm

passed.

The reason was that one broker having established a precedent by pouncing on another, a good many were scared that in the general turmoil their turn might come!

Three new warrants are still outstanding, not having been executed.

Much of the aftermath of the tremendous crash of three and a half years ago remains unliquidat ed. The number who still have "heavy obligations to meet is sur prising. Nearly everybody is in debted to somebody else, hoping against hope, on the other hand, that their debtors will, in turn, pay up before they themselves are threatened by creditors.

of

And the funny part is thal while such a fuss is made secrecy, everybody knows to within a few dollars how much a man owes, how much is owing to him, what are his chances of paying, and what prospects he has of receiving.

Artificial Forcing

In the boom years up to 1924, the brokers had enjoyed an era of in- creasing prosperity. Such a state of affairs was too good to lnst. Furthermore, there was abundant evidence of ovar-trading, speculation and the artificial forcing-up of prices not necessarily in ratio to intrinsic value.

Every piece of gossip was seized upon. So-and-go. was coming out with a new issue. Up went the shares. The A.B.C. Company was in negotiation with a Chinese syn- dicate to sell some property at a

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official compromise was devised. Bnt the damage had become irreparable. Speculators had vanished leaving the brokers to face stupendous commit ments. The banks began to call in money lent out on shares.

THE ERUPTION

MOUNT ETNA'S SERPENT OF MOLTEN LAVA

FLYING BOULDERS

To the

Catania. Yesterday. molten lava which is cleaving a

enormous serpent of, path of destruction in the forest down the slopes there is now added a further horror, for incandescent

One old firm became bankrupt. boulders measuring ten cubic feet; Others had resort to legal pro-are being scattered broadcast, fall- cedure but few got anything beyond ing with terrific force, sufficient to the satisfaction, if any, of empty break

the underground water. (nevertheless costly) judgments.

mains.

In connection with which I Professor Ponte, the Director of have a good story to tell of sharp the Etan Observatory, who remains practice.

at his post despite the bombardment,

A certain Chinese, well known has reported to the Government į for his lack of shrewdness, was that the eruption in, twelve hours indebted to several brokers and has reached a stage of development other individuals. His father only previously attained in four was a very wealthy banker but had days. A curious phenomenon is the been hard hit in speculation in fact that the lava is apparently gold coins known as "double eagles" moving in underground channels (the $20 pieces, of the U.S.A) from one newly-formed fissure to Because it was generally believed another. that the son was without funds, he

Airman Flies Over Etna

had been left immune for home As the lava reaches the plain it considerable time. Then rumours is extending over a wider front and went round that if pressure were consequently slowing. applied he would be able pay a It is hoped, therefore, to save the substantial sum. Go-betweens towns of Giarrre and Riposto. communicated with a creditor who An airman flew over Etna and either had previously, or then reported that there were no signs obtained judgment for about of a diminution of the eruption.- $15,000, They induced the Reuter, creditor to accept a fraction, Then a warrant was executed. While the debtor was held, his people had to be raised. This was paid were told that the whole amount

over to the go-betweens who handed over a few thousands to the creditor, obtained his signature to full settlement, and kept the dif- ference!

Not Worth the Stamps?

M. POINCARE

WILL PROBABLY HEAD ANOTHER CABINET

LEFT WING DISPUTES

R.N.R.,

Mr. Arthur Jones Evans,

I

Mr. Thomas Graham Weall,

and

Mr. Teun-nin Chau. Comdr. Nowill, who is the local

JUST COOLIES

Piracy Yarn With No...

Foundation

OFFICIAL STATEMENT

• According to Information from official cources it appears that, the 24 men thought to have been pirates were ordinary working people who paid $1 each to a certain man as pas. sage money on the s.8. “Tai Lee," being quite unaware of the fact that the man to whom they had entrusted their money was not in any way connected with the ship.

On receipt of the money from each of the men, the man in question proceeded to obtain deck tickets at 40 cents, cash, thereby making a profit of 60 cents on each_man."

The coolles were then smug- gled' on board the vessel, and placed in concealment.

A police official told a “China Mail" representative this morn-

ng that the whole thing ap-, pears to be a case of a man endeavouring to defraud the company of the legal passage

money.

The coolies say that they were travelling without paying the proper fare.. All state that they paid the sum of $1 to a man unknown to them, who in turn gave them tickets.

The quen, it is stated, were travelling to Kong Bloon under a contract to build a road for a contractor.

were 169

- * *

A commercial report, "Maney was rather more wanted"... It always

WAS.

A bootmaker promises contented feet" for those who use his special your foot in it... shoe..... So don't be afraid to put

A Magistrate said that the "name" of Moss was always suspicious." Spe..... Is that why moss is avoided

by rolling, stones?

A golden garter goes to a con- temporary who really attempted to offset the China Mail's scoops by ¡letting loose the piracy bug,

00

A cricket writer refers to certain players' "subtle contrivance of pad play."

The pad lads!

R.A.F. FLIERS

WARMLY WELCOMED AT MANILA

ESCORT OF US. PLANES

Manila, Yesterday. The four flying boats known as in shops.

A paper discusses undergraduates High and long jumpers the Far East Flight, commanded become counter dittoss. by Group-Captain Cave Brown [Cave, accompanied by seventeen An involved witness at court said he had decided to "put the hands United States Army and Navy into the case of the police." planes, flew into Manila Bay Did he mean into the cuffs? shortly after 11 am. They circled

over the city in perfect formation,

©

"Old-Fashioned Modern Dress,"

Furniture In Though

the shining silver-coloured visitors the poor old chairs looked so worn- leading, and splashed into the out, the last bulletin reports them water of the Army and Navy Club. completely re-covered.

‹

The aviators were greated by the British Consul-General, Mr. Thomas

'English Golfer "Robbed." Harrington, and representatives of Of victory? Governor-General Stimson and the

152

Army and Navy. A full week of Really great cricketers are not social activities has been planned merely "average" players.

by Manila's cosmopolitan com- munity-Reuter..

H.R.H. "AT KENYA

PRESENT AT OPENING OF THE LEGISLATURE

GOVERNOR'S TRIBUTE

London, Yesterday. H.R.H. the Prince of Wales was present at the opening of Kenya Colony Legislature at Nairobi to- day.

- p <

↓

Bathing belles may think of their figures; cricketers should not.

Our up-to-date dog showa -will now, we suppose, exhibit the wire......... less-haired terrier.

'Mr. Ford is to start worki on the Essex bank of the Thames--which bank should now have a valuable security.

"Lost Pale blue enamel lady's pendant watch."-Evening paper. .... 3.We welcome the advent of the pale blue enamel lady to our con- atantly increasing collection.

+

"Unfurnished rooms every con- venience to „lean “and”, congenial people.""

Shakespeare's authority indicates that lean people never are congenial.

› ‹

:

Mall. Sir, have just had the "To the Editor of 'The Dally

'flu' for the 33rd time atace 1888. Can any of your readers beat this undesirable achievement? W. G. Howard Gritten, Carlton Club, S.W.” Can any of them want to?....

People with appropriate names ME F. Spanner, late of the Royal

A political paper calls itself - Corps of Naval Constructors. "Think!" Its opponents answer "We don't think!"

"What Clothes to Take Away." The thief who the other day stole trousers from a golf club evidently thought he knew,

Mr. Tunney describes himself as a "quiet man on a quiet holiday.** . He certainly can make others quuiet.

"Young man wants position as bookkeeper or correspondent In office or shop. Waling to take any- thing."-Advertisement. Mest firms are on the look out for young men who will not take ang thing.

"Please send 100 used drunk postage stamps of British Coloniaa and you will receive the same af Germany or French stämpa-or` such Sir David Yule left twenty-five of the surrounded states.Adver- It was tisement.

We were un- dor the impression that, thanks to the League of Nations, there were to-day no surrounded states.

The Governor, Sir Edward Grigg,millions sterling.

Mr. Churchill who was heard to sing described the visit of the Prince"Yule not forget me!" and his brother the Duke of Glou- Paris, Yesterday.

Harbour Master, will act as chair-cester, as the 'most, outstanding į There has been hitherta little in-man of the Commission.

The Railways' Fight for Life." They can do nothing in

dication of how the Cabinet crisis' The points for consideration event of the year's history of the the fight against those 9-Tunney column: Mr. and Mrs.

', colony. Without departing from the lorries.

--E

Aro

From a social and personal ”

starving at the —— Hotel,” We may be able to give a report of the iibel action in an early issue.

(a) The 'status of River Trade informal nature of his visit, the

certiâcates 19 Master or Prince of Wales had been able to Five million letters are surcharged Mate issued by the Hong see all sides of the life of the Colony. annually because of the absence of Kong Government.

None of the communities of Kenya a stamp..

Just because "Rosita Forbes fa, possibly, one

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(b) The agreements made he had failed to feel the stimulus of, we don't learn to stick it.'

of the greatest arguments to-day for tween owners and master the Interest and sympathy of the

the 'Flapper Vote."The Sphere" and master and crew and the Prince of Wales, and he hoped the The latest is a spiked mat for..

The term "Flapper Prince's experiences had been such stopping car thieves... Just Vote" is apparently altogether dis- that His Royal Highness would be as they think they are. "getting sociated from considerations of time. willing to renew them-British away with it" they find themselvea Wireless Service.

The Government's revenue in will be solved. The possibility of are:-- 1926 was $21,131,582 or $212,954 a coalition of the Left Wing has heads in 1926 were less than those presentatives of the left parties, at less than that of 1927. Fifteen receded following a meeting of re- of 1927 and only six more than which only 270 Deputies were re- those of 1927. Of these six, the presented, or 86 too few to counter- good deal over book value. Up biggest was "stamp duties" the balance the remaining groups. went the shares. The X.Y.Z. clique excess under this head in 1926 over had a chance

of securing certain 1927 being no less than $383.088.pating in the conference hoped to The Left Wing groups partici-! privileges. Up went the shares. I should not be at all surprised if secure the support of the Radical This company of that company had, the fact that more revenue stamps Left Wing, whose 54 members hold earned a little more last month and were sold in 1926 than in 1927 the balance of power, but the there was a rumour of the next was due in large measure to the Radicals withheld their support un- bonus being increased by 10 cents. volume in 1926 having been swelled leas they were granted a share in Up went the shares. Now concerns by attempts to clear up outstanding the responsibility of government, were promoted, ene or two share. transactions.

Hence the only alternative com- conceived and, accordingly, succumb-

Elther in promissory notes or bination appears to be a Republi- ing very quickly if only because of other forms of acknowledgment of can ministry under the Premiership their premature birth.

debt, sharebrokers, speculators and of M. Poincare. If the latter It is no exaggeration to say that financiers engaged in the stock declines M. Briand will probably the brokerage earned by some of market must even now hold millions be offered the post, but it is the brokers in a day then was and millions of dollars of paper authorititatively stated that M. more than the total monthly in-bearing duty stamps but worth Briand' will only accept on the come earned by some to-day.

even hardly that outlay,

condition of. M. Paincare taking! There

la no fixed percentage. the portfolio of Finance. Promissory notes given out by a man of straw might not even fetch

Summoned by President

Paris. Yesterday.

others, however, either have chang-Elysee, agreed to consult party one per cent. to-day. Those of M. Poincare, aummoned to the; ed bands or have been quoted at leaders, with a view to the speedy varying ratios.

formation of a Cabinet.-Reuter.

As in London Now Speculation was fashionable then as it happens to be at Home at the moment with prospectuses appearing nearly every day in the London papers. And, as a few have warn ed, the anti-climax is just as likely to intervene there as it did in Hong

An Illustration Should Mr. A. be harassed by Mr. Korg.

Signs that all was not well be. B., Mr. A. goes at once to people to came evident in Ice House-street whom Mr. B. owes money. Mr. B.'s

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AFFORESTATION

Nanking. Yesterday.

The State Council of the Na-)

&

early in 1925. Clients who could notes are purchased at, say, 20 per tional Government has issued not meet their obligations had to be cent. of face value, the holders being mandate ordering the Ministry of accommodated. One broker nearly only too pleased to realise for ready caused an impasse by deserting his cash instead of waiting indefinitely. Agriculture to proceed with the ofice for a few days when Settle- Then Mr. A. proceeds to "et-off" formulation of regulations concern- ment came round but friends came against Mr. B. and the tangle in-ng afforestation all over the coun to his rescue in the interests of the volving, three or more parties latryReuter. trade.

straightened.

On June 20 the General Strike This was what happened this Ellis to a person in Macao. Accord- was declared in Hong Kong. The week. Mr. F. M. Ellis issued execu-ingly, Mr. Odell and Mr.. Ellis set altogether top-heavy June Settle tion against Mr. Harry Odell for off against each other. While they ment was only a few days off. A about $70,000, having obtained judg were doing this, other people for deadlock, was the result. On July ment long ago. Mr. Odell was merly or at present engaged in 20, the Legislative Council author lodged in the debtors' prison. But shares became alarmed that action Led postponement of the now Mr. Odell had in his possession the might be taken against them. But famon June Settlement The Ex right of collection from Mr. Ellis of the settlement on the lines indicated changes were closed for a time. An sums exceeding $100,000 due by Mr. has restored calm.

YANGTSZE GUARDS

Precautions Against Piracy

Shanghai, To-day.

It is understood that as a result of the Shaal piracy the Japanese Navy ls arranging to supply guards: on all Japanese vessels trading on the Yangtsze.

It is possible that the Shang- hai Volunteers will provide guards for other vessels trading from Shanghai to the Yangtse, and also possible, that the U.S. Navy will provide guards on

beRouter, American ships on the Yang-

notice to be given to termin- ate these agreements.

IN BURMA

"SPIRIT OF AUSTRALIA" PROGRESSING

Victoria Point, Burma,

Yesterday.

on the mat.

Headlines: "Gilbert and Sullivan Revival: Booking for 'Glosy. Love' Owing to the overcrowded state to-day.".. . Revival? More of Soviet gaols large numbers of likely to kill them if the famous prisoners are to be thrown on the collaborators were still in this valè world.

What a waste of of woe!

* time!"

·

J

An airmian terrified people on the ning." beach by flying close.

Hurley and Moir have arrived low-down trick. here in the "Spirit of Australia". -Reuter.

די

[This is the fight from Australfa to London and back.

APPOINTMENTS:

The following appointments are announced in the "Gazette":-

Mr. D. I King to be Deputy (c) The system of engagement Superintendent and Adjutant of the

and discharge and payment Police (Reserve). -

of wages of native seamen.

A man has been charged with obtaining plus: fours when he was minus cash.

4

Nine Coats have left fortunes of over a million...

None of these Costs was thread bare.

"Cutting the Waves."

When passing Biscay we should like to cut them-dead.

( ( ().

Much Damage Done by Light- Lightning strikea?

We see a headline, "Seaside. Music."!

Sound waves?

New York has commissioned a aky-scraper 808 feet high.

A tall order...

"Man-Hunted on Roof," We have heard before of these Kighly-placed criminals.

A motorist is to attempt records.

in a razor blade" ear.

We hope it is a safety razor blade.

Why not By the way, a razor blade car

| Mr. E. R. Dovey to be Assistant The announcement is made, "Lord (d) The method of measurement Superintendent of Police (Reserve) Crewe Returns." ;

of River Steamers for pas- and to be in command of the Sharp"Crewe Comes Ashore?" senger certificates,

Shooters Section Police Reserve, z

(e) The carriage of large num- Mr. E. 1 Agassis to be Registrar A South Wales pitman has made bers of free passengers as of Trade Marks and Letters Fatent an immense reputation as a singer. commission agents. In addition to his other duties, with

Wales loves the miner

vette ka

***Indigo Dividend.”.

(1) The system of embarkation effect from November 1, 1928.

of passengers and loading of carzo. (x) The employment of uncerti Kificated pilote,

TO-DAY'S DOLLAR

key.

Mr. E. I Wynne-Jones tonbe Police Magistrate, Kowloon, with effect from November 12, 1928.

Bo

the shareholders need not look blue.

The Institute of Transport has A, man • has been discovered..: In awarded its road" "transport gold China who is 200 years old) ....-E

| medal for 1928, to Major: 0. B. is said to be proposing to found an The closing rate of the daller on Kuhne, deputy assistant-directer of infants school for persons not demand, to-day was 2/0 5/16, mechanisation, at the War Ones. . - ceeding 110 years.

will require suitable strepping, places.

Frank Woolley of Kent, may settle in Australia.`

Why not in the Woolley West?

A magazine has an article on Bir Ofter Lodge at home..

Pro