1931-06-17 — Page 1

SIXO

FREE WHEELING 9TH ADVANTAGE. ^

The driver can, at any time and at any specci, change into the conventional in- termediate position, to use the engine as 'a brako on mountain grades.

HONG KONG & SHANGHAI HOTELS, LTD. (Incorporated in Hong Kong.)

The

Library, Supreme Court

China Mail

ISHED

1845,

No. 27,825

HONG KONG, WEDNESDAY, JUNE 17, 1931.

SHIPPING TROUBLES

IN CHINA

UNRELIEVED ANXIETY

BANDITRY ACCENTUATES LOCAL DIFFICULTIES.

OPTIMISM NOW FADING AWAY

"It is no exaggeration to say that the year 1930 was one of the most difficult and anxious periods through which this company has ever passed," said the Hon. Mr. J. J. Paterson, who took the chair at the annual meeting of the Indo-China Steamship Company, this morning. "Shipping - companies of all nationaltics have suffered by the world-wide depression in trade, and by the disastrous effects of shipping conditions in all parts of the world."

Whatever optimism obtained at the beginning of the year under review had been largely discounted by the new and recent break - between Nanking, and Canton. General conditions in China, accentuated by unrest, civil wafare, banditry, higher labour costs, and increased taxation, had particularly affected the Indo-China Steamship. Company,

In addition, trouble had been rife on the Yangtze River, par- ticularly in the middle section above Hankow. Firing on merchant ships had necessitated the provision of armed guards, and the further protection by H.M. ships. Over 100 instances of merchant ships being fired on in this section of the river were recorded dur- ing September and October alone.

DRASTIC ECONOMY ESSENTIAL

The Chairman at this point chants at the beginning of the paid high tribute to the very year. valuable services to shipping ren- Yangtze River Troubles. dered in this area by H.M. A considerable portion of the Forces, without which lives, and Company's fleet, as you are property would have been seri-aware, is employed on the Yang- ously endangered, and the opera- taze River, extending as far as tion of merchant shipping well- Chungking. The general condi- nigh inpossible.

The Chairmari also allude to the outrage at Changsha and Yochow, on the Company's hulk Chunglee and tug Shunwo, by Communists or bandita, masquer ading as an "Army."

Notwithstanding representa- tions of shipping companies, local Port dues had been increased,

and another adverse factor had

been the restriction of emigra-

CHAIRMAN'S SPEECH.

TO-DAY'S DOLLAR. — The closing rate of the dollar'on demand, to-day was 11d.

'PRICE $3.00 Per Month.

FRANCE'S DESIRE FOR POSEIDON TRAGEDY GOLD BASIS LANE,

PEACE.

FUND.

IN INDIA

The Urgent Duty of All Peoples.

Governor Heads Subscri

List.

· SECRET DIPLOMACY BANNED. STOCK EXCHANGE LIBERALITY.

Paris, Yesterday. Mr. S. A., Arthur, Hon. Trea France will play her part at surer of the Navy League Pesci Geneva in discussing "with pro- den Fund, sends for publication per prudence" all solutions cap- the undernoted list of donations. able of assuring world peace, de-It will be seen that a lead has clared the new President, M. been given by His Excellency the Doumer, in un address read in Governor who has made a person- both Houses of Parliament this al contribution of $250. The Stock- afternoon.

Exchange het docated $500, in He added that the maintenance alition to which member arms and organisation of peace was tave contributed $1,300, making the urgent duty of all peoples... total of $1,800 from this source.

"It is compatible with the primordial obligation of assur-IE. The Governor !! ing by ourselves the life, Mon Sie. C. Gordon Mackie security and independence of Basque France-China!30

14. Reilin ist our country."

P. Johnyen

M. Doumer attributed the eco-ic. A. Grimes nomic crisis much more to dif-3. A. Arthur ficulties with neighbours them. Geulborn al economy, and said that frank- Bentley disorders of France's own intern W. R. Mansfield

lcunk

Yan-pu ness and goodwill were needed, T. Jahnson' and secret diplomacy must be. L. Groome banned. Reuter,

CLOUDY.

The Royal Observatory's weather report to-day states:

Pressure is relatively high over Japan.

Depressions

situated over N.E. China an' to the NAW of Hanoi.

are

Forecast:-S. winds, mode- rate; generally cloudy.

Rainfall.

·Bainfall for 24 hours end- ed at 10 a.m. to-day, 0.15 inch. Total since January 1--28.67 inches against an average of 91.99 inches - deficit 8.321 Inches

Temperature.

A. L. Sullivan

E. Ozorio

L. A. Rosario

F. X. Mendes

A. J. Brown

A. 11. Potts

3. U. da Roza

M. N. à Silva

$

250

100

25

EFFECT ON VALUE

OF SILVER.

RESULT IN CHINA]

AN ARTIFICIAL AID TO INDUSTRY.

TENNIS

PLAYERS

Your greatest worry solved by' DUNLOP RUBBER STRINGING

Impervious to Molatura

No Preservatives Required

Retains Resilience,

Perfect Tension

Uniform Thickness

No Joins

Stocked by all Sports Dealors, TRY FF AND BE SATISFIED."

The Dunlop Rubber Co., (China) Ltd.

Pedder Bullding.

CRAWFORD'S

PROFITS.

Big Increase for the

Past Year.

"SHAREHOLDERS' MEETING.

Telephone 21554.

SURPRISE TACTICS

END CRISIS.

Liberal Amendment Ruled Out of Order.

SETTLEMENT REACHED.

The

A profit of $167,181.29 as com-

Rugby, Yesterday. (pared with $42,025.45 for the pre-

anticipated Parliamen vious year was reported at the 9th tary crisis, due to arrive to- ordinary meeting of Lane, Craw night, "when the House of Coin- ford, Ltd., held in Exchange Build-mons vote was taken on the Liberals' Land Tax.amendments ing to-day.

In proposing the adoption of the to the clause in the Finance Bill, London, Yesterday. Mr. Anderson, Chairman of report and account, the Chairman, came to an unexpected end this the Far Eastern Section of the the Hon. Nr. W. E. L. Shenton, afternoon. When the House of

anid:-

Commons, having gone into. London Chamber of Commerce, Dealing with the accounts; you Committee reached the clause. speaking at a meeting at which will notice that the result of our and Libera! Members rose to the recommendations of the British Economic Mission to the working shows a profit of $167,- make the much discussed amend Far East were considered, said 181.29 as compared with $42,023.45; ment, the Deputy Chairman, Mr. 50 that one effect of putting Indin for the previous year. This result, Dunnico, ruled it out of order and 10 on a gold basis had been to de- I feel sure you will agree, is very said that it should have been put 10 preciute the value of hoarded satisfactory considering that the forwerd on the earlier clause 25 silver savings throughout the year under review has been one which had already been dealt

East.

of many difficulties owing to the with. low value of the dollar.

This development came as a The unprecedented fall in

Repairs and renewals show a templete surprise to all members silver had given an entirely large decrease as compared with who, after some discussion, pass- artificial stimulus to the expan-last year.

This is accounted for ed to other business, Liberals in sion of 'industries in China, by the fact that repairs and re- timuting that they would intro- newals have, to a considerable ex-luce the amendment later as a tent, been debited to Working Ac new clausea procedure which count.

the Chairman intimated he would You will also notice a debit item consider in order, although there- under the heading of "Exchange." a possibility that the Parlia- This sum-namely $2,676.18-re- mentary guillotine will fall be- presents the adjustment of sterl-fore it is over reached, ing accounts current between our In any case, settlement of the office here and our London Agents. point at issue was reached short- With regard to the item "Ex-ly before the House of Commons penses re Exchange Building Pur- met in further conference be chase"; this amount covers sundry tween the Liberal Leaders and charges including Stamp Duty, Mémbers of the Government. The Prime Minister a little later Legal Fees, etc.

CANTON CUSTOMS.

Concerted Action By The Powers?

London, Yesterday. Strong concerted action by the Powers to restore the unity of the Maritime Cus- toms, "the one efficient ad- ministrative machine in China," is demanded by the Morning Post In a leader, which says that even if the Cantonesc abide by their undertaking to remit the Customs quota hypothecat- ed for the service of foreign, loans, the Powers should act

A. J. V. Ribeiro

Hong Kong Stock Exchange

600

And the following member firms of the Hong Kong Stock Exchange:—

A. A. Alves

100

J.

T. Bagram

.100

Benjamin & Potts

100

Ellis & Edgar

100

Joseph Gould & Co.

100

Fred Kew & Co.

100

Moxon & Taylor.

100

100

100

100

100

Tester & Abrahama

100

100

Wright

100

Dr. and Mrs. G. W. Hollings

5

Mlas Cooper

10

Mr. and Mrs. J. W.

100

E. I

M.

Б

L. C. Bird

100

81

10. N.

W. Fielder

0.

tempt on the seizure of the Canton Customs in 1928-

81.

Bank

Line, Ltd.

100

* Renter.

H. P.

81

L. H. V. Booth

10

79

Bank of Canton, Ltd.

100

81

K. F.. Laye

81

"A Sympathizer"

69

E

L.

70

Jas. S. Logan

L. Biau.

The temperature at certain specified centres this morning at 6 o'clock was:-

Hong Kong Macao Praias Island Manila Foochow Amoy

Chefoo Shanghai

11r. and Mrs. E. R. Childe

S.S. Lung Shan

Maskintosh & Co.'s Staff

Press

Total

It has been found necessary to informed Members of the Parlia write off the sum of $2,556.18 as mentary Labour Party that the bad debts, and it is proposed that. Liberals had re-drafted their in addition to the $8,000 already amandment in a form which, sub. for bad ject to reconsideration of cer standing to the reserve

(and doubtful debts, a further sum tain details, the Government of $7,000 be added thereto. I am could accept. British Wireless sure you will agree with the con- Service.

concertedly, as at the last nt-servative policy of your Directors

in this regard. It is really a mat- ter for congratulation that the writing off and reserve necessary are so small considering the no- ture and extent of the Company's

business..

Earlier News.

Geneva, Yesterday.

Unless advised to the contrary, Mr. Shinwell and Dr. Drummond Shiels will be flying to Londori to attend the critical division on the

Mr. Shinwell and Dr. Drummond Shiels have been advised that their

which was only likely to bej Your Directors' proposal to checked by want, of segurity, transfer the sum of $30,000 to Land Tax in the House of Com-

mors this evening. in so large a portion of the General Reserve will, I am sure, country.

be appreciated and approved by A resolution was passed that you. 100 the International Chamber of Our Investments have this year prosence in London, is not required, Commerce be asked to formulate given us a amall return, and since therefore they are remaining in

25

65

a scheme for the stabilisation of the publication of the Balance, Geneva.-Reuter. 20 the value of silver as a basis of Sheet the Company has disposed

6 subsequent discussion by inter-of its interest in Messrs. Wm. The Liberal 100 ested Governmenta, Reuter.

Rugby, Yesterday.

Party's critical Powell, Ltd, on satisfactory terms, amendment to the Government's land. The Profit & Loss Account does, taxation proposals is due for debate No Roquest to Government.

not appear to call for further re-and division in the House of Com- There is still a London, Yesterday. marks, except the item "Deprecia-mons to-night. The Government has received notion," which I propose to deal with possibility that the Government may Balance be defeated. In such a case, a Gen- request for an international silver when considering the

eral Election would seem to be Inevit- $3,574, conference, stated Mr. Philip Sheet.

Snowden in reply to a question As indicated in the report sub-able. to-day in the House of Commons. įmitted by your Directors, the bal-

50

100

5,165

$9,730

Fund Now $19,225, ・・・ The Fund has been very con-

-Reuter,

MR. S. R.TICKNER.

DOCKYARD OFFICIAL'S DEPARTURE

In some quarters, however, it is ance at Profit & Loss Account, believed that the re-drafted Liberal after making due 'allowance for, amendment, which was adopted by a Depreciation and Bad and Doubt majority at a hastily summoned meet- ful Debts, and deducting the debiting late last night, offers prospects balance brought forward from last of overcoming the difficulties, year, amounts to $29,372.86, which The Cabinet, which, Immediately it is proposed to carry forward to met, remained in Bession until 11.30 and then adjourned. A fur- a new account.

Turning to the Balance Sheet, ther Cabinet meeting was held this the only explanation which

ap-morning. A full meeting of the

tions prevailing on the river during the year 1980 were most unsettled, and business was con- ducted with the greatest difficulty and not without con- siderable anxiety, Firing on merchant ships, irrespective of nationality, was prevalent in the early part of the year, increas- ing in intensity towards October.

According to published re- throughout the year, and trade Mackintosh & Co., Ltd. ports, and I think without exag was seriously interfered with on Mr. and Mrs. J. M. Gordon tion to Malaya.

geration, there were over 100 in- The Chairman then went on to stances of merchant ships being the Ichang-Chungking line by ar. H. King outline the negotiations with fired on in the middle section of farted from February until May, J. M. V

strike of Chinese pilots, which C the company's floating staff as to the Yangtze River above Han-

M. V.. Figuereldo basis of payment of wages. The kow during September and Octo- during which time practically all Woo Hay-tong matter was still under review, ber alone. On the Lower Yang-steamers operating on the Upper Mrs. Geo. Gerrard

H. D. and he earnestly hoped, that tsze, merchant ships were also Yangtze were unable to run. wise counsels would prevail. subjected to attacks by so-called fare in China has again been a Jebsen & Co. The continuance of Civil war Botelho Bros.

Scandal Point Whist Drive

Now, more than ever, drastic Communists or bandits ashore. economy was a vital necessity; These conditions necessitated source of keen régret and has Dollar Steamship Co's Staff

arrangements whereby, with the greatly restricted the movement assistance of H.M. Navy, British of merchandise to and from in- ships on the Yangtsze were pro- terior points. The situation has Previously acknowledged in The Chairman, moving the vided with armed guards and been ably reviewed at the recent adoption of the report and ac- this, together with the protec-annual meetings of the Hong counts, said: Gentlemen, It is tion afforded by foreign gun- Kong and Shanghai Banking with much regret that your boats, enabled trade to be carried Corporation and the Hong Kong Directors have once more to re- on. In this connection, I would General Chamber of Commerce. cord a year of adverse conditions, once more express the Company's I am sure you will share with me siderably enhanced as a result of It is no exaggeration to say that keen appreciation of the valu- the keenest disappointment that donations sent in between noon the year 1930. was one of the able help afforded by His Majes- when hopes were raised and con- yesterday and noon to-day. most difficult and anxious periods ty's Forces during another year idence strengthened by the re-new collections total no less a sum through which the Company has of exceptional handicaps, and ported. general agreement in the than $9,486, making the grand ever passed. Shipping companies without which both lives and pro- Autumn between Marshal Chang total up to noon to-day $19,226. Mr. S. R. Tickner, R.C.N.C. pears to be necessary is in regard Parliamentary Labour Party, at of all nationalities have suffered, perty would have been seriously such-liang and the Nanking The latest Hist, which will be yard, Hong Kong, is to leave for

Chief Constructor in H.M. Dock-to Depreciation. ́ ́

which the Ministers will attend und and unfortunately are still suf- endangered and the operation of Government, the situation has published in detail to-morrow, on Saturday by the F. and O. propertyExchange Building and ment, has been summoned for this Depreciation on the Company's express their viewe on the amend- fering acutely, from the world-merchant tonnage rendered well- now taken another turn, for the comprises $6,645 sent to the Navy wide depression in trade and I nigh impossible. I also take this worse arising from the dispute League direct (including a hand- 5.5. Ranpurs.

15, Burrows Street-largely..ac afternoon. need only refer you to published opportunity of conveying to the between the Nanking Govern- same donation of $6,000 from the Chief Constructor, and appointed to year's figure.

Mr. Tickner, who was promoted counts for the lacrease over last The crisis has reference to a clause of the Finance bill now in the com-. reports both at Home and abroad, company's floating and shore ment and the Canton section of Hong Kong & Shanghai Banking the Hong Kong Dockyard in August, Bakery and Cold Storage plant mittee stage in the House of Com and more especially to recent staffs along the Yangtsze our the Kuomintang Uncertainty Corporation)

1928, has unfortunately recently and fixtures and fittings have been mons, as to which the Liberal party editions of such a well-known grateful thanks for their loyal as to the future is

once more Gratifying as the response is, journal as Fairplay. to convince and willing co-operation under affecting business, and I fear the the need for funds is very rest, developed eye trouble, accentuated, subjected to a similar depreciation decided it had a right to withdraw its amendment and substitute for it you of the disastrous effect very trying conditions. NG much longed for period of peace- especially in view of the low rate it is thought, by gun glare. He le to last year's. ful trading is still very remote. of the dollar. 'which these conditions have had

Garage fixtures and fittings and a modified. amendment. The effect: returning Home on medical advice, Outrages Committed,

Depleted Earnings, S

and his many friends sincerely wish machinery and plant have been of the new amendment, which is upon shipping activities in all

To add to the difficulties al- From these remarks: share Cheques, which may be sent him a speedy recovery.

written down by a reasonable somewhat technical in form, is stated -parts of the world, ready mentioned, the Company holders will realise that due to either to the Chine Met or any Joining the Portsmouth Dockyard amount, and depreciation of tools to be that, generally speaking, fully

To those, however, who follow anffered a severe loss resulting the causes mentioned the earn-other newspaper or to Mr in 1897 as

a shipwright's ap and equipment has been debited developed property would still be the trend of events in Chinn it from the outrages committed at ings of our Yangtze Fleet were S. A. Arthur, e/o Messrs, prentice, Mr. Tickner, as a result of to Working Account.

exempt from Land Tax. It was this will be easily realised that in ad- Yochow and Changsha In July by much depleted during the year Gibb, Livingston and Co., Ltd., a competitive examination open to Depreciation on restaurant uten amendment which was communicated dition to the general stagnation Chinese Communists or ban under review. In other direc. P. & 0, Building, who is acting all HM. Dockyards, was later seat alls, linen, etc., has been allowed to the Prime Minister last night, of trade, from which we, in con- dits styling themselves as The tions our regular services were as Treasurer of the Fund, should to the Royal Naval College at Key- for in accordance with, the policy and laid before the meeting of the mon with others, have suffered, 5th Red Army, when the Com- on the whole well supported. In be made payable to the Navy sham, Devonport. This was in of previous years shipping companies trading ex-pany's tug Shopwo and the hulk the Southern charter trades, League (Poseidon Fund), clusively in Far Eastern waters, Changles were looted and burnt; however, business throughout Rapidly Sinking. have also had to face many extra the latter beyond repair, and the year was in a very depressed difficulties by reason of the con cargo in godowns wantonls de condition, tonnage being greatly tinued unreat in China and the stroyed. Here agam H.Mr Navy in excess of demand and with abnormal decline in the value of silver. The low rate of exchange, to which Is wil

the most un

perienced

was

The

Rugby, Yesterday.

ndered valuable assistanca in litle or no prospect of Improve The Secretary to the Admiralty protecting the lives of both Chinment, several German and Nor has announced that Comma ese and foreign subjects Claims weglan steamers were withdrawn in-Chief, Chins Stat for losses incurred have been from the Coast and a large ed that HMS duly forwarded throu

Amount of tonnage laid up at 10 in an channels, to the Nanking Gover

ment

char

and Singapore rapidly

the year the

Balcon

has

sed positio

in soft

ON MEDICAL ADVICE.

Cabinet, and it remains the basis 1903, and the following year he Stocks, as valued by the Manage of to-day's negotiations.-Britlah entered upon a course at the Royal ment, have been depreciated where Wireless Service, Naval College at Greenwich., necessary.

An: 1905 he was appointed "Assis-I think, Gentlemen, that the

tant Constructor, going to the Porte- foregoing should be a satisfactory ment. The manufacture of home mouth Yard, and since then has explanation of the accounts before made chocolates and biscuits was served at the Admiralty, at Rosyth you

mg taken in hand, and our products

and Portsmouth, going through the My predecessor, when address compare very favourably

with grades of Assistant and Senior Con- ing you at the last meeting, in- similar imported goods. The enler structor

formed you that your Directors quired the property on September Since his arrival here in 1928, Mr. were hopeful of purchasing E1, 1980. The year under review Tickner has greatly endeared him- Change lding, in which the shows the benent of six months self to the Dockyard Staff, and has mat Bec

of t ompany's working under the new conditions. taken ceenest Interest in his bu

Bituated, and I am During the year we have continu“ y that negotiations ed to improve cur Bakery Depart tto satisfactory;

departure the foc

for great, regret, amongst his were bro

conclusion, and the Company" ac·

(Continued on