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The
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Saturday, October 5, 1929.
Ninth Moon, 3rd Day.
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THE WEEK'S NEWS
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WOMAN & LABOUR BRITAIN & SOVIET
WEEKLY REFLECTIONS AND MISS SUSAN LAWRENCE GETS
NOTES
PROTOCOL SIGNED BY TWO COUNTRIES
INTEREST MAINTAINED
Hong Kong, Oct. &, 1929. My Dear Alex.
It is
gratifying to observe that some interest has been aroused from my suggestion last week anent ofleinl daily reports from the respectivo Exchanges of all dealings in the Stock Market, particularly forward transac tions. In view of the opportunity, afforded by the present activity to elect reforms of this nature, I trust something will be done along the sug- gested lines soon.
Interest in the market is heing well maintained, and it appears to me to be continually refreshed by a variety of rumours. If all the rumours that one hears nowadays will materialise into facts, an era of prosperity is in store for the shareholdera of most Companies.
In my last letter I referred to the likelihood of the sale of the motoring section of the Hong Kong and Shang- hai Hotels, Ltd. After a great deal of difficulty I managed to elicit the information that there is some sugges- tions that the Company should sell this Ine of its business to a subsidiary company, and give an option to its shareholders subscribe to the enpt- tal of the new company. By this, means, it is postulated, the Company will be enabled to effectively reduce its overdraft and its shareholders wil! derive immerite' benefits by way of dividends from both the parent and subsidiary Company. Another sugges- Lion is to invite the Hong Kong Tram ways into the schéme. Whilst dealing with these suggestions I would be fail- ing in my duty if I did not point out that they are in the embryo-stage and will necessarily take some time to mauld into shape; on the other hand It is passible that neither of them will be adopted for there are some with the opinion that the Company should not part with this side of its business in view of the handsome profits it is producing, However, the matter of
greatest moment to the shareholders is the question of a dividend and in this respect.mp_reference to the Chairman's. speech at the last annual meeting should be sufficient to convince the most sceptical that there is every pros- pect of a dividend being declared in respect of the working of the pre- sent financial year.
NEW POST
WARMLY CONGRATULATED
WAS
London, Yesterday. Miss Susan Lawrence warmly congratulated at to-day's final session of the Labour Party
1 M188 N. Lawrence
conference, on her selection by the new executive as the chairman for the next conference. She is the first woman to hold the post.
The standing orders committee ruled as out of, order, four resolu- tions on disarmament,
PROPAGANDA AND TREATIES
London, Yesterday,
The protocol of the agreement be- tween England and the Soviet, signed the Soviet envoy, consists of alno by Mr. Henderson and M. Dorgulevsky,
-clausea. The first enumerates quer- tions on which the British and Soviet Governments shall negotiate, namely, the definition, of their attitude towards the treaties of 1921, commercial treaty claims and counter-claims, fisheries, and the application of the previous tresties and conventions. The secont stipulates that the negotiations shall begin immediately, and full diplomatie relations be resumed. The third that the negotiators be the Soviet Ambas- sador to London and the British For- eign Secretary The fourth and fifth, that the Plenipotentiaries may be as-1 sisted by joint Committees of Exports, which will report to each plenipoten- tiary. The sixth, that all agreements that result in negotiations tako form of a treaty or treaties. The seventh, that immediately the Ambassadors present their credentials the British and Soviet Governments will confirm their pledge regarding propaganda, contained in article 16 of the Treaty of 1924. The eighth, that simultane- ously with the British and Soviet Gov- ernments approval of clauses one to seven, the British Government take the decision to resume normal diplomatic relations with the Soviet, including the exchange of ambassadors, The ninth, that all the above shall be sub- mitted to Parliament early in the next acasion. Reuter.
The 1924 Treaty. Article 16, relating to propaganda contained in the Treaty between The resumption of the debate on
Great Britain and Union of Soviet So- the revised constitution saw much August 8, 1924, is as follows: "The cialist Republics, signed in London on opposition for the proposal that contracting parties solemnly affirm local Labour parties pay an annual their desire and intention to live in affiliation fee of fourpence per peace and amity with cach other; seru- member, compared with the pre-puiously to respect the undoubted right vious twopence. Finally the of the State to order its own life, with. executive agreed to make the fee in its e jurisdiction, in its own way: threepence: experimentally, for one to refrain from and to restrein all par-
year-Reuter.
4
VISIT THE KING
MR. AND MRS. J. H. THOMAS STAY AT SANDRINGHAM
London, Yesterday. Mr. J. H. Thomas and Mrs.
The shares of the Hong Kong Rope Manufacturing Company after a long period of comparative inactivity, are attracting some attention. I gather that the Company has successfully Thomas left London to-day for weathered the storm of the last few | Sandringham on a visit to the improved considerably. Consequently,
years, and its financial position has King-British Wireless Service.
it would not be unduly optitalatic to of shares changed hands and the price expect a dividend for account of this is now $134 to $18. around $8. year's working. The present price is
It is expected that the Hong Kong and Kowloon Wharf and Godown Co. will require some capital to carry out the contemplated improvements, and rumour has it that another 20,000 shares will be issued and offered to shareholders Ir the proportion of one in every four shares. It is still a moot point as to whether the new shares (if they be issued) will be issued at par or at a premium.
Chiha Light shares are still in the limelight by reason of the numerous conflicting rumours that seem to gain currency, every day. The cause Is ap- parently due to the speculative char acter these shares have recently assum ed in the market. I dwelt rather cx-
haustively with this stock in my pre- vious letters, and there are no further comments I can make at the moment. During the week fairly large parcels
WILLIAM FOX
presents
The domani for Hong Kong Electric shares appeared to be on the were at the beginning of the week, but I gather they are by no means lacking in popu larity. A strong undercurrent of quiet buying still exists, and 1 would not be surprised to see a further rise in them in the near future.
sons and organisations under their direct or indirect control including or- ganisations in receipt
any financial assistance from them, from any act over. covert liable in any way what- soever to endanger the tranquillity or prosperity of any part of territory of the British Empire or the Union ef the Soviet Socialist Republes, or in- tish Empire or the Union with their tended to embitter relations of the Bri-: neighbours or any other countries. British Wireless Service.
'PLANE DAMAGE
COLLISION WITH SAMPAN
NEAR NANCHANG"
WHILST TAKING OFF
Canton, Yesterday. You will be pleased, I am sure, to
General Chang Wai-chang, the
of the favourite investment stocks. October 1 a hydroplane to proceed bear that there has been a rise in most Director of Aviation, ordered on Among the shares in this category from Nanking to Canton. The Union Insurances have most conspica our by their appreciation to $368. I plane left for Nanchang on the 2nd, am told that there is a plentitude of arriving there at three p.m., but idla money. In the Colony which is gradually finding its way into the stock on the following day, while taking market. Owing to the difficulty often off from the river, it collided with experienced of obtaining purely Invest a sampan, resulting in the machine ment shares (1 is possible that a good part of this money will be attracted to sustaining damage, which had to be some of the other Hong Kong shares.
repaired, and its departure had to be postponed.-Canton News Agency.
Yours, etc.,
BELLY BULL.
FLEETWING
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