CO129-429 - Public Offices & Others - 1915 — Page 52

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the totals. In only one instance that I have met were Chartered Accountants engaged to audit the books. AB regards office management and methods, we have little to learn from the German Firms in Hongkong.

The Accounts in the Appendix illustrate more clearly than any report can do, the scope, nature, and profita of German trading in China. The Head Office in China of

practically every German Firm of standing is in Shanghai,

and consequently the Hongkong Accounts are merely branch

accounts dealing with the Ordinary lines of dyes, piece

goods, sundries, and export produce.

All the Government and Machinery business in which the

Germans have an almost impregnable position in South

China is handled in Canton,

Government Aid. I have made most careful investiga-

tions, but have not been able to find any trace of direct

subsidy or bounty to any of the Firms. Inasmuch as most

of the head offices are in Hamburg, any arrangement of

this nature would be made there. Their finance,1

„insurance,

and shipping was mainly in British hands. Whether the

London branches of Banks like the Dresden Bank, Direktioq

der Disconto Gesellschaft, London and Hanseatic Bank,

were instructed to foster German business by increased

facilities can only be ascertained by the liquidators

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in London. It is known that the large German Clubs in

pue ports like Shanghai and Hongkong have received Govern- ganancial to the lage time

ment aid to maintain them in their early stages. It is

also known that the German Association of China was

organising a comprehensive scheme for the furtherance of German material interests in China by means of a subsi-

dised native press and German control of the educational system, but of direct pecuniary assistance to German

Inasmuch Firms trading in the East there is no trago.

as many of the private Files of Firms like Carlowits &

Co. have not yet been read through, there is still a

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