1933-05-03 — Page 6

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Vellow

Just arrived.

Jeuntem

fantem

Shops

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for Children

at

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Alex. Bldg., Tel. 24566.” Hong Kong Hotel, Tel. 27424.

and Gloucester Arcade.

Also Arcade Peninsula Hotel, Kowloon.

"ANCHOR"

BUTTER

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"THE WORLD'S BEST:”

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when the fifth is KING GEORGE IV

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• Building, Log House Ber

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THE CHINA

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MEN'S OUTFITTING DEPT. WHITEAWAY, LAIDLAW & CO., LTD.

The China Mail-

Hong Kong, Wednesday, May 3, 1933.

A New Era For South Africa.

Britain's War Debt Burden.

HERE THERE

and

EVERYWHERE

Acres of Glass

The fact that every tropical fruit | and flower can be grown in Britain under glass is beginning to be ap- preciated and acted upon. Towns of glass are springing up, and experts estimate that there is a market of the value of £30,000,000 open to the enterprise.

WEDNESDAY M

THE MAGNIFICENT

MORGAN

FIRM GREW WEALTHY

FROM WARS

ACCOUNTS NEVER PUBLISHED

(By C. A. Lyon.)

New York.

At last there was only ana day's supply of gold left in the mation'a coffers!...

President Cleveland would not [accept outside help from the finan-

Tomatoes, cucumbers, старев, mushrooms, early strawberries, and Roosevelt is waging a great war raspberries are the chief fruits cul-against the big banking houses. tivated at present, but there is no He is demanding that they shall reason why others should not be publish their secret accounts. added to the list. During 1931 more If Roosevelt gets his way, and clers. than 18,000,000lb. of grapes were the affairs of J. P. Morgan are in- imported, yet there is no reason vestigated the world may be start)- why, we should not grow our own. ed with some astonishing financial

The largest glasshouse aren · in secrets. Britain is in the Lea Valley, where

"He will not see you," Morgan was told bluntly.

The fate of the nation hung by a thread. They were faced with

1,500 acres are under glass. There There is not the slightest sug-such a catastrophe. as had never are now more than forty-four miles gestion that the company is un-been known before.

of greenhouses in the sheltered part sound, but in all its history there

War Wealth

of the South Downs near Worthing, have never been any accounts and a new enterprise has been form- published.. ed to exploit the Worthing hothouse grape industry. The aim is to put 100 acres under glass, employ 600 men, and get an output of a quarter at

year.

:

For just under 100 years the house of Morgan has existed. It

American Civil War to the great

There was an outstanding che que of £2,400,000 on the Tren sury. If that were presented all was over.

The President gave in.". It was Morgan's moment. The firm lent $13,000,000 and saved the

In 1900-1901 Morgan conceived

of a million pounds of grapes a grew wealthy from wars, from the {country.

Other areas where hothouses have war. It had its great rises and the stupendous idea of uniting the grow whole of the U.S. steel interests in

been erected are the Holland divi- falls,

but continued to

sion of Lincolnshire and the marsh richer through all the nineteenth one trust.

#

*

He did it in three months. The

land district of Norfolk. The figure century financial crises of America.) of £3,000,000 is mentioned as the In the end it came to wield * freeb capital recently put into this great financial sway than any firm principal unit was Andrew Carne promising industry, which inci- had ever wielded before. Its story gie's great Pittsburg steel under- dentally gives work to many men parallels that of the Rothschilds, taking. Carnegie was bought up, who are not gardeners.

but in America the firm of Morgan and walked out of his busines was greater than the Rothschilds with a sum that was said to yield him an annual Income of between' ever were in Europe.

it was founded by a farmer; the two and three million pounds. A committee has been formed to king-courted, art-collecting, bul- The capital of the trust was consider erecting a monument to bousnosed financial magician, J. £2,000,000 in stocks and £60,000,000 the Spanish novelist, Blasco Ibanez, p. Morgan sen., grandson of the in bonds!

What did Morgan's get out of t For forming the trust they

Blasco Ibanez

who for many years lived in Paris founder, made it what it came to

Your Daily Smile.

*

Happy at Last.

*

be,

the

the family fortunes. He was first"I have met the Kaiser and I like a farmer and then an hotelkeeper, him," said, Morgan.

and then made a small fortune out He had become the first finan

His next famous deal was ly 1879.

William H. Vanderbilt WAS

Then black days closed in.

With a Napoleonic plan Morgan

Personal Park.

As it was generally anticipated

and during the war rendered ser- that the national balance-sheet

vices to the Allied War propagen- for the British financial year{da by publishing some novels with

For years in the latter part of took £12,500,000. A Congress In- the nineteenth century the or-vestigating Committee later said would be unsatisfactory, the ac-jan out-spoken anti-German tenden

dinary toller of the world stood that: "Such a sum bore no relation tual figures will not cause dis-C

According to Press reports, the

dghast as Morgun's juggled their whatever to the services rendere-

cd." South Africa is greatly to be

appointment. Leaving aside war former Premier, M. Herriot, and

millions. He was known 88 congratulated on her new Gov debts.

Next year Morgan sat on and

"Morgan the Magnificent." reparations, Mr. the former Finance Minister, M.

right hand of Edward VII. ernment, which took office last Chamberlain estimated for a sur-Flandin, are among the sponsors of

The Founder.

He dined alone with the Kaizer, month. Gen. Hertzog and Genplus of £800,000. Supplementary the committee.

Joseph Morgan, of Hartford, who gave him a marble bust of Smuts have shown a fine public Estimates increased the expendi-

Connecticut, was the founder of himself. spirit in putting aside their party ture by £21,614,000, but, despite differences and determining to that, he ends the year with a How Very Unkind. co-operate in a National Ministry deficit of no more than £3,828,- “Whenever I see...énything of insurance. The son, Junlus,"`cler of the world, for the good of the Union as 000, Income-tax and surtax, funny," writes a correspondent,. "I born in 1813, began as a clerk, be whole. The South African fin-which have not this year been positively shake with mirth"He came a financier, and left a for

(must find shaving a difficult busi-tune of £2,000,000 in 1890.

Het himself the task of merging ancial crisis of the winter was collected with undue haste, are ness.

J. P. Morgan was his son.. [British, American, and. German not unlike that which came upon £15,000,000 below the estimate;

J. P. Morgan's first deal was passenger and freight liners into Britain in August, 1931, and it there is a shortage of £3,750,000 Downs and Ups.

selling muskets condemned as un one gigantic trust. One swallow doesn't make Riserviceable and dangerous in the

But the British Government has been faced in much the same

on Stamp Duties, and of £12,000,-

American Civil War.

kept the. Cunard Line out by a summer; but after you've had courageous fashion. We may 1000 on Customs. and Excise, as dozen or so good swallows you be

The Government bought them, subsidy, the Germans stayed out trust that coalition on a broad might have been expected in a gin to feel it sure is summer or you

and Morgan pocketed the large side, and Morgan was left holding national basis will have as much year of bad trade. But the don't care a hang whether it is ar profit.

the bag, success in South Africa as it has Estate Duties have yielded not.

(Continued on Page 11.) had in Great Britain. Gen £1,000,000 extra, miscellaneous Hertzog has carried most of the receipts exceed the estimate by The old gag about making a afraid that a monopoly-hating Nationalist party with him, cx- £5,500,000, and, what is more Seat happy in his old age by telling Government would ruin him by cept Dr. Malan, and Gen. Smuts welcome, there has been a saving him a funny story when young has special heavy taxation of the New has retained the support of almost of £29,000,000 on the National medical journal, reports the case of he held 88 per cent of the stock, and will shortly take place between, been proved to be true.. A Scottish York Central Railroad, of which A marriage, has been arranged the whole of the South African Debt service and new Sinking a man of 76 scho was recently taken Alternatively, he was because of Arnaldo Guilherme Botelho, mer party. In the new Cabinet, com Fund, and £10,000,000 on the with a laughing mania. posed of six Ministers from each Supply services. These figures, party, the principal posts are

"More War Iiterature." unfortunately, take no account held by Nationalists under Gen. of the American debt payment of

Scrap books.

Vanderbilt's one-man control The forthcoming marriage of Hertzog as Prime Minister. But £28,956,000. If. there had been pass the Bottle, for-

Nothing leaked out until the deal Tong Chack-ahum, draughtsman, of with Gen. Smuts's adherents in

was completa,

6. Rednaxeln Terrace, Hong Kong, no Lausanne agreement, Britain the nearer the beaune the swee

Vanderbilt in his joy gave Mor-and Tong Yuk-Lin, of 11, Aberdeen the Ministries of Mines and

could, have looked to receive on ter the meat.

gan a large set of silver plate. So Street, Hong Kong has been an- Lands, the responsibilities of

her war loans to the Allies and

that there should never be another nounced. In America office have been very fairly dis

the Dominions, and for Repara- Englishman (eating corn on the set like it he ordered the dies to be tributed. The chief significance tions from Germany no less a cob for the first time): "Boyl Boy!" destroyed. of the coalition is that it implies

sum than £37,500,000. The year the end of racialism as a divid-would then have ended with a fill it up agofs.” fing-line between the White in-

habitants of the Union South surplus of £5,250,000 As Bri- Africa has too long been cursed tain renounced the payments due

The only time some women by politicians who have sought to her, and on the

other hand

their voices is when they to emphasise the differences, be-paid the United States the De-their sheet of tween the people of English cember Instalment, the Treasury origin and those of Dutch ances try. To observers, at a distance is left with the heavy, deficit of The Permanent Blonde. such a policy has always seemed £82,279,000. The Government suicidal in a country which has have repeatedly made it clear a native population, that out that they looked upon last De- numbers the whites by three to cember's Instalment as a capital one and heat increases rapidly.

*

Waiter: "Sir”. Englishman: "I say old thing,

169 age

Two Inches Down

Set fair.

the panic it would cause.chant, of, 35, Granville Road, Kow

Morgan secretly sold enough of loon, and Beatrice Patricia Chon, of the, Vanderbilt stock in England 95, Robinson Road, Hong Kong. to disarm public criticism of

The forthcoming marriage has By 1885 the American rail wars been announced' of Yuan Kit-eing, had reached amazing dimensions, contractor of 283, Tai Nan Street, From New York to Chicago was Shamabulpo, and Wong Tool-tal, of 800 miles:- Three lines would have 203, Cheung Sha Wan Road, Sham- [been ample. There were five and shulpo. lower two mord, building, Passengera

take were being taken the whole dis- The marriage arranged between.

tance for a dollári:

***Gullherme Faustino dos Santos, of The dividends on the New 798, Wongneichung Road," Hong York Central stock Morgan had Kong, and Eulalia Marie Lourdes da sold ware halved, and the British Rocha, of 222 Wanchai Road, Hong shareholders asked him pointed Kong, will take place in the near questions. Plan de

Facts You Did Not Know.

The Lark of the million and a payment of which account should haf Europeans In South Africa be taken in the final settlement el bolane covered berry boxes have designed to keep their is far too difficult for it to be with America. But it must be contents cleaner and more sanitary, hampered by constant appeals to noted that the United States

Morgan went back to the United Siates and made peace between the rival lines.

Master Stroke, Before Morgan brought his al- most hypnotice negotisting powers

race prejudice and to bygone his- Government have in no way in Poland's population has increas into the struggle the railroads had tory. The Union needs to look dicated that they share this ed. 18 per cent, in ten years, seven been prepared to fight each other forward, rather than backward, view, and the Treasury will have principal cities gaining 22 per cent. 4o the last cent. - to the great fature, that is open to make up last year's deficit

DC Abroad the peace was helled ac before it rather than to the due in main to the payment to Light produced by magnetic in a master stroke. errors and sorrows of the past. America, out of the revenue for duction lamps has been found the Gen. Hertzog's Coalition Minis-this year, if the traditional prac- safest and most efficient for Coal

The Chancellor mining.. try should open a new and hap-tice is followed infer ern in South African of the Exchequer. history.Arapid. " advance is that he is expect Vossible nawi thaf, the two.

two great crushing burdeng parties are working together this serious Instead of thwarting cad

monopoly,

tare:

dits own fact

the firm's

thentics

future.

DIVIDEND AND BONUS.

China Fire Insurance Co., Ltd.

Subject to audit the Directors of the China Fire Insurance Co But it was in February 1895 that Ltd, will, recommend the pay

greatest day up to ment of a Dividend of $12.00 per share, a Bonus Dividend of $6.00 Anancial panic bl per share and an Exchange 1898 there had been, steady with Borus Dividend of $7,00 per drawals of goi from the United share for the year ended 31at States TreasITY,

December 1982

".