1910-07-01 — Page 3

LORD MILNER AND CROWN COLONIES.

Lord Milner gave an address of Crown Colonies to the members of the Liverpul Chamber of Commerce on June 6th.

Crown Colonies will become one of the strong nat links between the self-governing Dominious and the Mother Country, and between the self- governing Dominious among themselves. The perception of the great soland and the grooter potential value of the Crown Colonies in the

THE PAST AND PRESENT VIEW,

extinordinarily anpatorprising. Our niggard.

THE HONGKONG DAILY PRESS. FRIDAY, JULY 1st, 1910.

bacteriological laboratories, afforestation, and tringing men of science, often paid high salaries, from distant part of the world to give a now impetus to agriculture. Many people used to laugh at the idea of the Transvaal ever becoming serious agricultural

the

THE SETTLEMENT IN SHANGHAI

"

Harely, if ever, in the annals of the history of the Shanghai Share Market has it been so

the devout wish of all, says Capital and Com- to you the full extent of my heresy in those be reducible to a minimam. Although not an days. (Hear, hear). But I am afraid to reveal meerce of June 24th, that the reinitant evils will directions, my heresy against the old doctrine inappreciable amount of business was done in a that it is the business of a Government number of the usual stocks, the course of to

koop peace and prevent people breaking business so far as it pertains to them will

follow the normal course; and all interest, there one another's heads, and to leave all the rest to private enterprise. (Hoar, hear, and laughter.) fore, is beatred in rabbor shares. The boom That may be a very good plan in old and wealthy has worked itself to death, and nobody who has kills the chances of any rapid development in a prosperity at heart need be sorry for it. On countries, but it: is absolutely fatal, it absolutely the interest of the trade of the Far East and new country which is totally devoid of what you several occasions, we have unrezalttingly pointed is only public effort and public money which bean asphyxiated to the very verge of death, may call the necessary equipment of civilisation. out the harm it was working. Our trade bas can give it that neccesary equipment. Lear, and should now be thankful that the of death

Ita stangulation is after all at an end; and with should revive to the administration of officacious restoratives it should have been its portion but for the stufe of activity which death-grip of the rubber gamble.

hear)

THE PEKIN SYNDICATE. DE-AEMANGSHEST SCHEME CALED

An extraordinary general meeting of t Cannon-street Hotel, on June 8th, under the the purpose of considering a number of rosolu- chairmanship of Sir Richard Davis. Awdry, for tions concerning the rearrangement of the interests of the three classes of shareholders.

An explanatory pircular stated that the scheme of arrangement was as follows

Intense interest in shown in the forthcoming meeting between the President and the mail. road heads at Washington, on Monday, but little assurance is given that the Govermont

mince the validity of the injunction. harmful refif everywhors, business men foun simistio from different sections shorts a res the railroad sitaet all trades as the outcome of

Liquidation, aggro.

Union Pacific stock is regarded as a market Index, and its quick decline after a belated opening eansed renewed anxiety to sell.

-Ho BridI assure you I regarded it as a economic sphere Ins, I think, boou the principal position. I do not think they do in D / Burnly triod as it will be next week, and it is Pekin Syndicato (Limited) was held at the will, or can, change ita sttitude until tho Court this Chamber of Commerce Inasmuch as I am to them, and our stepmotherly neglect of these great honour to be asked to deliver an stdreva income of the great change of policy with regant expected, and I desire, to be brief, it may soom

Colonies in the past is beets, I think, one of rather presumptuous of me to choose for my the least honourable pages in our history, subject one so veat as that of Crown Colonies; (Hear, hear.) but I reflected that I should be addressing an audience, many of whom are familiar with that

As acquirers of overseas possessions we have subject and its practical aspects, and therefore been remarkably successful. No doubt that is that might inke many things for granted which due to the fact of our long-continued, un before another audienco

might have been necessary to explain at length. This Chamber and aprons, on the oceat has in recent years taken a great and growing, at any rate since the abolition of the slava governors of their native populations we have, and a most praiseworthy interest, may I say, in trade, hold a fairly high record in humanity the administration our Crown Colonies,

permajos is that of wat alone, and in respect of their development we have bon especially it is in Africs, East and Wort, as I need not tell liness, especially our governmental nigger liness, you, that the most remarkable development of has become a byword. I think it has been due recent years has taken place perhaps I should less to measness than to want of imagination. say some of the tout remarkable developments. For couturies we have confined ourselves to the for it is not right that any one speaking of Crown islands and the coast strips, and have seen Colonies should overlook the great work which

been done by a distinguished band of British of trade, a very valuable trade cortainly in many nothing in the Crown Colonies Lut opportunities administrators in the Straits Beldements and the Malay Peninsuls generally. Still, no doubt es, but trade restricted to the comparatively it is in Engl, West, and Central Africa that the limited number of products which they could greatest development ima tai en place in recent easily produce in their raw state without any years. Not only have our boundaries been im science. No doubt there is an important excep

assistance from substantial mensely extendel, but there has been an ovention to that in the past in the sugar industry more remarkable éxpansion in our ideas as to the possibilities of these graat territories and of the West Indian Islands; but I do not know our duties in regard to them. I may only refer that, taking it as a whole, we have any very in this connection to the establishment, first in great reason to bo proud of the history of our London and then in Liverpool, of the Schools dealings with these cortunities. But of late of Tropical Medicine, institutions which I years there has been a remarkable awakening as believe are destined to bestow the greatest bone- to the possibilities of what has boon called fit not only on one tropical possessions, but, of interest has shifted from the cast stripe our great undeveloped estate. The centre hops, ou all mankind. (Hear, hear.). I am far to the great interior territories, and in frem saying that even now there is annh gen

zul interest in the Cram Celoafer as we shuple place of the saintenance of a few parious trading stations we now see the beginning wish to see, or that there is anything like an of a policy which aims, with European capital

apprentation on the part of the public generally of their rast extent or of their athland by European science, at the development of

n

our capital or our

of

opening up a fresh vists of great public expends I will not spoil your appetite for lunch by ture. I must only thank you for the patience with which you have listened to those necessarily rather general and, some of you may think, somewhat superficial remarks, and to express your excellent efforts to keep up Governments my hope that you will persist as a Chamber in of whatever party in respect of their duty to the importance of the Crown Colonies of the Empire, Loud sheers.)

HERR DERNBURG.

to Mfgivn・ away"

an estate

ests and panicky from from the big inter appeared directly after the small holders, (1). The rights in the profits of the company being most pronounced in the cmarket eponed, conferred by the articles of assolation apon Unions, Stools, and equipment Readings, the Shanai shares of the company to be ertin are severely hurt oither by the actual ereich gaishod, and in lieu thereof the Bhagai sharespective cancellation of orders by the road to confer upon the toblers in proportion to the amounts paid or credited as paid upon the Blasi shares held by them respectively, the right to have distributed among thom in sao). The efforts of Messrs. Morgan to stem the year 10

per cent of the profita and one-half of tide through the personal work of Mr. Parkins, the remainder of such profits until such time the managing partner, who rushed from Chi- as the moneys paid in respect of such 10 parengo for the purpose of telling the railroad cant. of the profits of the company shall heads and bankers that they should not pre-

(2) The rights in the profits of the company can feller and Standard Oil interests.

amount to the sum of £1 per share upon the dict a panic or too great a disaster, were ron. Shans! shares.

dered futile by heavy liquidation by the Rocko-

ferred by the moriorandum and articles of association upon the crdinary and deferred shares of the company respectively to be or tinguished and subject to the rights in the profits of the company conferred upon the holders of the Stani ahares the whole of the profits to be distributed by way of dividend among the holders of the ordinary shares pari pasau, and in proportion to the amounts paid upon the ordinary shares held by them respec- tively until such time as the dividends paid upon the ordinary shares shall be equal in amount to the nominal amount of the or dinary shares for the time being issued.

"A SPLENDID BUSINESS,"

In Haarat coesion that the new Board moving the resolations, the Chairman said

Mr. Perkins, spooking for the 45,000 miles of road represented by Messre, Morgan, told the manufacturers hostile to the rate increases that the roads were being pushed too far, and that the flasseial situation both here and in Europe was grave. His statement that the financial interests in the East felt that the Government should withdraw the suit against the roads aroused some amusement.

Apart from the railroads, the best nows of the week comes from the growing erop districts, where wheat, corn, and cotton give good pro mise, with a large acreage and good condition.

Against the good agricultural outlook mast

tional inre of the railroad rate situation. be placed the temporary trade and industrial paralysis caused by the unexpected and sousa-

The passage

of the Railroad Bill through the Senate facilitated tho operations of the liquidating movement, the street agreeing that bears and conduced to an increase in the general while the bill was more favourable to the roads than the first bill, yet it still contained a suf- fcient number of harmful clances to add further

holders, and they take this opportunity of say. ing that they will spare no energies to make the Pekin Syndicate the success it ought to be. Your direntors, who came into effics so iste as February lust, gave the question of the pos- tion, being convinced that the shareholders to the roads' burdens. sible unitostion of shores their frat considera.

would wish an immediate expression of their opinion as to the best means for settling the

great hopes of the success of the industry, which It ip needless for us to repeat that we have

an extent andesamt of by any business man in has been newly introduced into Shanghai to the Far East; and as to how we should host safeguard oar interests, and that of the hadrods. of Chinese shareholders who have unhesitatingly confided their wealth to the care of the foreigner, we shall refer to elsewhere. Already we bare more wealth invested in a single industry than it is healthy for the body politic of trade. No surar It is semi-officially announced, that the sign of it is needed then the fact that the publia Colonial Secretary, Herr Dernburg, tendered are taking listlessly to new propositions. As it his resignation last month to the Kaiser. The happens, the new propositions are rarely worth announcement says nothing about acceptance of the attention that some of the old promotions the resignation, but it is mentioned by the deserved. The cupidity of the prompter, how. fourteen days leave of absence on May 15, and generosity of the vendor of the Tandjong Berliner Tageblatt that Herr Dernburg took over, has no bounds; and, even when the has not since appeared at the Colonial Ollee. Finang (a vins proposition) has prevailed The Tageblafi uids that the reason for upon his Herr Dernburg's action is to be sought worth T. 22,000,000 for Tls. 2,500,000 have bad the pleasure of meeting the share. in the fact that his political views are at taking only Tis. 250,000 in variance with those of the Government and are in a mood to treat his profund the public generosity vasier possibilities. But there is at any rate s

the Empire." moaning, of course, the Kaiser. with contempt, and nak him to keep such a nice the most reliable products of the earth in great change for the bettor in our attitude in

Herr Bernhard Dernburg's appointment to property for himself, or offer it to people less regard to them, a mora progressive and liberal enormous quantities. Millions have been spent the German Imperial Coloniel Secretaryship ungenerous and willing to part with their money polley and a growing tendency to regard them; Afries north of the Zambesi. in West Africa, interest, for more than one reason. In the Best our stars that there is a surfeit of rabbor pro

and are being spent upon railways in East

ics, rather more than three years ago created much more easily than themselves, We should thank not as isolated and unimportant adjuncts of our and in the Sudan railways. Well, though it is place, he caure to the head of the Colonial Office motions in Shanghal, or else the above-mentioned Imperal heritage, but as destined to play a very anid to-day of some of them that they do not immediately after it had been elevated to the vine proposition and other schemes quita sa good essential part in its development as a whole.

pay for their axle grosse-(laughter)--I think in

rank of an independent Ministry from its former time and with the growth of population under

delirious awing of rubber mania, as new as it is prognunt. It dates with a great of sanitary scie they will be unable to deal irritation over the cbvious mismanagement of lessly gambled, and the day of long-awaited Office. In 1907 public and parliamentary But, what of the present? We have rock dosi else which will in time come to be regarded with the trafle they will be called upon to carry. Germany's colonial affairs had reached its as epoch-making from the great Colonial adminis. (Hear, henz.) I know there will be many height, and various sandals had given rise to hopes of "something turning up

correction has come, in spite of Micawberian tration of Mr. Chamberlain, (Hair, hear.) I | mistakes, that many enterprises will fail and

"to the very The extent of the crisis can refer to the conception of our Crown Colonies that there will ba

angry debates in the Reichstag and Loss of life and

to last minute. acrimonious criticism in the Press of all as complementary and indispensable to the treasure; but the possibilities are many and

which shows the depreciation in value of some which the establishment of Office indicated was the personality of the man betwoan March 31 and June 20:-

of our principal shares during four periods selected as Minister. For the first time the Em- peror went outside the ranks of those aristocratio classes from which hitherto the holders of high Ministerial offices had been recruited, and chose as his Colonial Secretary a gentleman who had made his mark entirely in commerce and industry. Herr Dornburg, who is the son of Herr Friedrich Darnbarg, a well-known journal. ist, and is in his 45th year, had had a distinguished career in the tanking world, but had had no connection with official life. He is essentially a man of the middle classes, who down to the present have been rigorously excluded from the work of governing, and his position has been likened to that of Mr. Chamberlain, with whose sans and broad-minded Imperialism the views of Herr Dernburg have much in com- mon. Naturally, I is appointment caused a good

A SELF-SUPPLYING EMPIRE.

Que idea opecially in regard to them is, I think, conditions of peace and orderly government and position as a mere departiest of the Forai Would victimize the public at the top of the somewhat divergent interests of the thres classes

THE DANGER IN CHINA.

A STRONG MAN NEEDED,

London indo the following statement with One of the loading authorities on Chiza in

Pall Mall Gazette representative:--

other parts of the Empire from thoseon mio point so varions, the untapped resources of these great Still more important than the change of sily be seen from the under-mentioned table described, I think, by the term reconciliation regard' to the serious news from Nanking to a

M

of view. What appeals to many people who have no sentimental interest in the British Empire, a weakness to which I confess myself, 18 what an American friend of mine described as the conception of it as a business proposition. It seemed to him a very good business proposi tion, principally because there was hardly any. thing wanted by one part of it which some other part did not or could not supply. It was the self-supplying aspect of the Empire és a whole which appealed to him, as I think it will appeal more and more to all of us the more we think about it. (Hear, bear.) In this aspect of the Em. pirs the Crown Colonies have a very distinctive and vory necessary role, differing as they do in many respects from one another. They are all, broadly speaking, countries of the tropical or

|

countries ara so vast, that the experiments whick will succeed will more than compensate for all the failures, and the ultimate reward of persistent energy will be something far greater than the boldest of us dream of today. (Cheers.)

AN ERA OF ORGANIZATION,

separate

Dominions.70 kales 621 sellors 51 alas 48gales

· March 31 April 21 May 12 June 20 Alm 40 collore 34 sellors 25 sales 17 sales Kronrocks 5 nomi. 43 sellers 85 buyere 20) bagan Chempedaks 40 bayora 45 buyers 42 sollars 38 bayers Jayaa is 40 sales · 38 salos 27 salos 24 sales Tebongs...45 sales 45 buyor 41 nom. 33 eale's

Pongalons 63 sellers 50 noz. 41 sellers 40 nom.

Talangs..... 25 salos 18 nom. 14 sales 11 rom. Samambas...26 sal.s 23 sales 18 sellera 13 aalos. agar Tarral 22 saloa

21 sales 14 salos 10 buyers Karans 35 sollare 23 salas 18 bayere ty sales Anglo-Java 93 sales

18 buyers 16 nom. ils Butes 22 bayers 18 bayers 16 nom. It Doa Kees...24 sale Shanghai

21 sollers 15 salos id sollars

Malaya 14 sollora

sales nom. There is no doubt that the promoters of rubber companies have without exception inade the best of the situation, except in the ease of

8

& nom.

China is suffering, because there is no strong man at the moment to take the helm of Govern- ment. All those in power at the moment are

a restful policy they spend their days trying weak-knesil individuals, whose only care is their own salvation. Instead of giving the country to get the better of one another. The one thing to be done to restore tranquillity to Chins is to bring back Yuan-Shi-Kai, the one man in China with the ability to grasp and deal with the situation

of shareholders. Actual unification of the might say impossibilities, that it was decided shares presented so many difficulties, indeed, I

not to attempt any arrangements on this prin- ciple, and your directors turned their attention to a simpler and less expensive plan, aptly The result of their deliberations is now before you, and is submitted for your acquiescence and sanction. As will be seon, it is based upon the principle of "give and take." There will be a unification, but one of profits and interests, and May and its acompanying monerandum will not of shares. The circular letter of the 23rd have put you in full possession of the proposals of the board. Briefly, there will be only one till in the Pekin Syndicate; there will be a common interest in all profits, and thus the Shazsi shareholders will participate in all the profits of the company. The only alteration of the share capital of the company

is that pro posed in the ordinary shares. It is recommended that ench share of the nominal value of £1 should be split into 30 shares of 28. each, one vote for each share being given. Should the mical, partly political, partly racial. In the The present unrest in China is partly econo- arrangements be approved, a profit and loss ao Brat place, the reigning dynasty is Manobu, count will be prepared-inded, it is in course of preparation, and a general meeting will be sul, theroforo, ampalatable to the ordinary Clindman; in the second place, the ruling the company's working that the shareholders

He was deposed owing to the jealousy of the Present Regent; if he could only be induced to

some back there would be hope for the future of China.

In conclusion let me say that I think the time has come when, in view of the greatness of our stake and of our responsibility in this underloped State which has grown with such amazing rapidity, there is a call for more serious and systematic study of the conditions with which we have to deal and for a more highly trained export administration. We have arrived at the end of the process of more physical expan sion; wo as not push our borders very much further forward, in the centre of Africs, for sub-tropical zones: the self-governing parts of the instance, for the very good reason that we already Empire, of course, including the United Kingdom march with the borders of other people. The speaking,countries of the temperate zones, and era of expansiozi is over, the era of organization | deal of heartbarning in those circles which had those who came too late in the day, The held to receive it, and to disguss any point in authorities have exasporated the populace by itself, are all, on the other hand, again broadly

is only just beginning. We do not want more expected to see the new Minister chosen from manipulations of the market, to keep up the "they also are all countries,which either bare or territory; in truth, it would not be good for us, their midst, but it is certain that the Kaisor's prices as high as possible, by not a few of them, may wish to raise After this meeting there their corrupt practices, one of the most re-

which will have great industrial development. We have an enormous work before us in making wisdom in placing Herr Dernburg at may have no ethical justification. But one has Most of the industries of the self-goretning the beat of the territory that we already possess, the head of his Colonial Office has been fully to take things as they are, and it is well known Ordinary and Deferred holders of shares, thus They flooded the country with copper coin- be separate meetings of the Shansi and the prehensible of which was the tampering with portions of the Empire their present or fature (Chesra.) Despite all the novel interest excited

i vindicated by results. In most respects the that such manipulations are with a "bom carrying out the order of the High Court of Industries—are partially dependent, and some of the chief of them are wholly dependent in our Empire and even in the Crown Colonies, Gorman Colonial administration has been purg. there is little use in the public, the brokers or Justico. This is an extraordinary meeting, and and then the maises Those mecham prot and this is certainly true of the United King- the least regarded though not the least imported of those errors and scandals that bad runde it the promoters oursing each other, as being questions on ordinary business do not arise, but and when the masses whose medium of ex- dom itsolf-upon the products of tropical or ant portion of it, no one can say we rally yet a byword in the Fatherland. The rigid, anin responsible for the situation. All of them on fool sure you would like to put the question to us. change it is discovered that the value of the coinage had depreciated their anger was very sub-tropical zones. It is no sinall advantage realize the extent of the importance of the telligent, semi-military rule, which prevailed tered into this game of shance with eyes wide "Well, you have now seen the inner working of the great,

subject. Nothing strikes Lore constantly until 1907 has been replaced by a mere sensible open, and in all such games the lasers will be company. What do you think of our business ?" in what I may call the misdirection of national and businessliko régime, genuine efforts aro

A farther reason for the unrest is the scarcity energy than the extraordinary contrast between now made to attract settlers, the system of is no part of any business programme, and the and a sound commercial one. Everything con- famines created, both by the prohibitive state of the many, and the lucky the few. Philanthropy Gentlemen, you have a splendid business, of rice, the general costliness of food, and the the mount of time and labour and ingenuity, dealing with the natives has been modified, and, wild-cat schemes now proposed to relieve the vinces me that if it is pushed as it should the food market by foods in different parts of and, I may old, tempor, which is expanded on generally speaking, the whole method of govern delente are only practicable in a Utopisa and will be, substantial profite will follow. We the country. Thung causes explain the discontent the least of our hema political questions comment has been reformed. It is even yet a long Society.

hare sent a special representative to China to pared with the plentiful lack of thought and way from perfection, but for the change that

As it happens it is the small speculator that settle certain pressing questions as to the sale among the general population, That consideration, I would beg you to ob energy devoted to even the biggest problems of has taken place most of the credit should be bought more than he could hold--in the hope of of coal and other matters, and to negatiate with serve, is more important in the present, and is Empire, and especially to the biggest problems awarded to Herr Dernberg, who not only prices rising further and selling at a profit- the authorities in relation to the iron ore. Ho likely to become more important in the future, of our Crown Colonies. (Hear, bear) How visited the German colonies personally, but also that is hard hit. He was the worst gambler is accompanied by an expert, who will investi- than it has boon the past, that of many writers the altarot Distrimtion of industries throughout who are loveting inomselves to my thing like territories in order to find out the secret of best quote was that sortire in and exploitation of the mines, the chesting of subjects are there made stays of some duration in our own African of all; and now he has proved himself the gate all matters appertaining to engineering There are many forms of mannfas a thorough study of the administration of our British success in ruling tropical lands. His any subject connected with the prospects of the sites for additional shafts, and the manufacture ture which at nuo time were confined to a single tropical Dependencies? It is a big anbject; it departure from the Colonial Office cannot fall industry or the share market; and he deserves of icon and steel, You may rely upon it that country or to one or two countries, but which is based on important principles, like any other to be a real misfortune to his country, which very little sympathy. For those who bought we shall leave no stone unturned to push our have now become common to a much greater branch of namiaistration, but you a small in spite of great sacrifices, has not obtained only just a mnok as they could hold the best business for all it is worth. number. Each of these countries is looking in library--I might say, one shelf-would contain from her oversa dominions the benefits that advice is to stick to the shares. The boom The Chairman also said that they had had the first instance to supply its own market, all the serious work that has ever been donesha hund the right to anticipate.

is dead, and prices probably will never rise to from their agents in China a satisfactory tale There is a general desire all round to do that, on the subject. Some of that work is perfectly

their former level; but, as investments they gram to and consequently there is much greater competi- excellent, though it is comparatively little re-

ought to prevs vainable, oroept in ons or two mines, and he likelihood of troublay the The resolutions were carried, and confirmed at the subsequent meetings of the different classes of shareholders.

at any time, and may under given circumstances be vital, for a great industrial country to have the raw material upon which its principal in dustries depend produced within those regions under its own control. (Hear, hear.):

THE DISTRIBUTION OF INDUSTRIES.

the world.

tion for raw material, as we all seant the present garded. A yet only a small portion of lite sold EARTHQUAKE SHOCK IN SOUTHERN

time in the case of rubber and of cotton. You may be sure the countries which command the supply of the raw materials within their own

has bion covered. Such work, like all soientific work, naturally appeals only to a limited class. It will only have a few readers, though it is of

ITALY.

18

instances when certain shares fotoled" mað" prices for a few days.

In spite of the disorganization which may reault from the settlement of next week, it is

Early on the morning of June 7th a severe jurisdiction will take very great care to supply the utmost value to the specialist. It does not earthquake occurred in the Province of Avellino, very weloome as the only agency which will pay. We have not yet soared to the conception the home of the ancient Hirgini, Avellino, the that the country should pay for what is essential

their own requirements before they think of their neighbours. (Hear, hear.)

NATURAL RESOURCES OF CROWN COLONIES. Therefore it is a matter of singular im.

purge the market of the exorescences, and let to the training of the men who are going to be capital of the Province, is situated some 28 miles our trade follow a normal and healthy course.

its agents in these vast territories of which I sast by north of Naples. The shock was felt

FINANCIAL CRINIS IN AMERICA.

A New York telegram to the Fatly Tele- graph dated June 4th states:-..

A YOUNG CHINA PARTY.

a

Then there is the growing nationalist feeling, springing up ander similar circumstances to those experienced in Egypt and India.

The young Chiasso go abroad, imbibo little Western culture, not enough to do them any good, bat just sufficient to niske them feel dissatisfied with the conditions in their own country. They couze back convinced that a year or two it is possible to attain to the civilisation of Japan, forgetting the half-con- fury of effort that has gone to the making of the present-day character of the island kingdom. So the result is agitation-against the slow- moving Government officials and against the dynasty, which is regarded as the symbol of reaction.

In the new spirit of patriotism thas fostered, anti-foreign feeling is always near the surface, chooked merely by four.

THE POSITION OF FOREIGNERA

In the case of the masses, this anti-foreign

portance that we have within our own Empire have been speaking. Indeed, we have not most saverely in the towns of Calitri and Cala THE KING AND MR. CHAMBERLAIN. imprompia conference, to-day gave their united feeling is a symptom that in itself would

any organized sarcles as yet, no tally organized britto and the village of Bans Sossio, service at all such as we have and are proud of in

I

Twenty deaths have so far been reporter, but

The leading Wall Street bankers, after an support to the various stocks, and in the last hour of trading resouad the roarket from its never be a dangerous factor, but it is cun- The King raid a visit to Mr. Chamberlain at though this was entirely due to this support, the easiest way of diverting public anger from dangerous position. Stocks closed fairly strong, ningly inflamed by corrupt officials, who find

A VISIT FROM HIS MAJESTY.

Unions closed at 1682, after touching 1652, the foreigners, as Lappened on the occasion of 1513, half a point above Friday, while the other revolutionary activity remains to be soen. and Reading, after going to 148%, reacted to the Boxer riots.

Whether or not the present unrest is ripe for

under the banking support.

henelf is becoming an inerossingly industrial necessary quality, although I am glad to think receipt of the news, immediately telegraphed arrived at 40, Princes gardens, at half-past four leading stocks sustained similar movementsght not to be forgotten, however, that the

£2,000 to the local authorities.

Thatte until the eleventh hour,

China authorities have a way of allowing Equipment and express stocks suffered on the theory that business would be badly crippled when th

when they s because of the roads. Wells Fargoes lost 7, who

in India and also in the Crown Colonies lands capable of supplying those natural proIndis. It is a very great credit that a beginning it is feared that the ansualties will prove more upon which there is in the futuro, to use a common expression, likely to the greatest of such a service has baan made in the Anglo- numerous. No serious earthquake had occurred run. India, no doubt, occupies a foremost Egyptian Sudan, but there is room for a great in the neighbourhood since that which destroyed his London residence on Saturday afternoon with prices in many cases above Friday's close. themselves is to detest it in the direction of

osition in this respeof, although it must be deal more to be done in that direction. (Hear Moli, which is some 45 miles farther east, in June 4th, and remained totes. remembered and this grantly qualities her hear.) am afraid the prospects we hold 1851.

The Prime Minister, Signor Luratti, on Keppel, drove from Marlborough House and His Majesty, attended by the Hon. Derek Importance from this point of view-India ont are not sufficient to aftract men of

'clock, Mr. Chamberlain was not entficiently country, but the Crown Colonies, including that we have had some very good men in our

The shook was folt in Naples and other woll to meet His Majesty at the door, and Mr. everything considered, the *Protectorates auch as East Africa, Northern Colonial service, sad,

places in the south, but, though causing great Wilson, his private secretary, received the King Rhodesia, the Federated Malay States, and, results of our administration has been better

alarm, occasioned no damage,

The King and Queen, accompanied by Signor on his behalf. His Majesty romained just last but not least, the Sudan, are already than might have been expected from the immensely important from the point of view to haphazard methods of selection. I suppose it is which I have called your attention, and they

o question of money, and though we are so much Baoohi, the Minister of Public Works, and Dr. over an hour. destined to be very much more important in mere liberal than wo seed to be, I do not think Bastianelli, the eminent surgeon, left at two

o'clock for the soone of the disaster. enough fatare yours (Hear, hoar.) They are enormous we are as yet anything like liberal

The people of Calitri attribute the earthquake ́in extent, they are lands of immense fertility, the conception of what is needed for the equip to the presence of American missionarica, who presence of the Royal carriage, had sombled, not in all parts of them but over great portions, lizing how much you must spend without have had to be saved from the fary of the crowd and respectfully saluted the King as ho drove. and we have so far only scratched the surface realisediato rotura if you are going to make a real by the police. of their natural resurses. Interest in them is at present almost wholly confined to the saccess of it in the long run. The first plant of United Kingdom itself, but the interest taken civilization, if I may use a technical expression, in them by other portions of the Empire, the is immensely costly in these new countries, and self-govorning portions of it, is bound to grow. yet it is no use being miserly about it. Contiguity alone would ensure this, especially. with the constantly growing rapidity of means

Bre

of communication, Canada cannot be indifferent

in

ment of an undeveloped country and in

·

SOUTH AFRICA IN THE MAKING:

I speak to you from experience.

The

At the conclusion of the visit Mr. Wilson con- ducted His Majesty to his carriaze. A con-

siderable number of people, attracted by the

away.

and Air Brakes 7.

boceme energetic; there is off of heads, and, hoy presto! Since the fling of the Government injuno there is a lull again-until the next time, tion last Tuesday, the leading stocks Love This is what we shall probably witness now. But each time, it must be remen enstained the following declines:

bored, the warest must necessarily grow in strength and proportions, and these repressive measures simply mean putting off the evil day.

Yuan-Shi-kai must be brought out of xatire. ment at any cİSİ,

Steels

6 Goulds

6/New York Centrale 7 9 Rock Islands

7 Unions

Eries

5 Loads

4

142

Coppers Car Foundrys

Brooklyna.. Atohiscrim Chesapeaker St. Paul Consolidated Gas

Company Louisvilles

The bank statement was decidedly more un-

12 Smelters

Northorn Paoific

11 Pref.

8 Southern Pacific... 8

THE MISKIOTANIES AT NANGKING.

Nangking is not so much an English as an American mission centro. There are several » societies working there whose headquarters are in the United States.

The Chino Inland Mission informs Router's

The King, the Press Association understands, Tuszatti stated in the Chamber thin Signor afternoon that no deaths had occurred outside found Mr. Chamberlain in somewhat better the Provinos of Avellino, and he estimated health as the result of his stay at Cannos. the number of deaths thore at thirty. A Bill King Edward displayed keen sad sympathetic authorising a grant of £8 000 was presented to interest in Mr. Chamberlain's recovery after his Parliament,

severe illness and visited the distinguished states. to Biarritz, The Pepo has ordered the Bishop of Avellino mau shortly before his last journey

After his last official visit to Birmingham King

offering him birthday congratulations, express- LATEST STEAMER MOVEMENTS.ing regret that he had not met him at the creasing 35,00 00 Loans increased 87,368,000 from Chine, and that mail intelligenes of late Birmingham coromany, and saying he hoped and the surplus decreased $5,658,300, leaving has indicated that the situation was becoming

state of Mr. Chamberlain's health would so an average surplus of $20,559,000, against quieter.

The reports of an anti-dynastic movement, improve as to permit of his return to public $18,856,000 last year and 847,100,000 in 1908.

Reports from Texas say that the State however, cause no surprise, life. Mr. Chamberlain was abroad when King Edward died, but Mrs. Chamberlain and he sent flaisis will ask the Government to protect an orchid wreath to Windsor for the funeral in shippers, thereby instituting injunctions and token of their respect and deep regret.

Great activity marked.

ity marked the ope Mr. Chamberinin is shortly going to High-

opening, and the bury, but the date of ble departure froin brief efforts to rally prices on overnight devolop. London is not yet fized: Among recent callers mests proved futile, the Street regarding the was Mr. Roosevelt, who visited Princes-gardena President's views on capital and corporations on Friday and spent three-quarters of an hour as soother menace to a speedy settlement of in Mr. Chamberlain's company,

the presont crisis.

to the fatore of the West Indies, of South/1ggest bit of Crown Colony experiment into render every possible service to the sufferers Edward sent a a telegram to Mr. Chamberlain favourable than had been predicted, cash de Agency that it has received no disquieting nowS

our time was done in the new South African Africa to the future of Barotseland or Nyassa Colenies immediately after the war. They land, or Australia to the future of the Islands of were only temporarily Crown Colonias. We the Southern Pacific and to the States of the knew that they belonged essentially to colonies Malay Peninsula. But there is a more potent of the self-g

-governing class by virtue of the influence than contiguity which will tell in the towperate climate and the European population. The cargo of Silk shipped on board the M.M. coming years. The greater the industrial There was never any question that they hadt, dustralien, which left this port on the 24th davelopment of the self-govorning Dominions ultimately to take their places among the self- May, was delivered in Lyons on the 28th alt other than the British Empire, the greater governing Dominions of the Empire. There The C.P.B. Co.'s str. Empress of China must be the attention which they will devote was a brief but necessary period of Crown arrived at Nagasaki at 7.30 am. on the 30th to great countries ander the British fing Colony administration, and during that time we lime, and left again at 2 p.m. ans day for rich in natural producte, which are vital to rote the machine ahead at most tromendans Kolo, where she is due to arrive at 6 pm on the industries of the countries of the temper, pase. I know we were often attacked for our the let inst

The LG.M. str. Derflinger, which left here ate zopas. From that point of view it may extravagance. I myself was locked at askance

on the 1st ultimo, arrived at Genos on the 23 bo that the common interest of the self-even by my friends because of what were cou- governing portions of the Empire in the sidered my expensive fade-experimental farms, nitimo at 5 am.

the

anita.

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