1910-12-06 — Page 2

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INTIMATION

WATSON

LIMITED,

TH

HONGKONG DAILY PRESS, TUESDAY, DECEMBER 6тÜ, 1910.

A. report of the proseclings in couaestion TELEGRAMS.

with the court martial as to the loss of H.M.S. Belford appears on page fire.

It is understood that early in the spring throo of the submarines now at Portsmouth will be seat to Hongkong.

sion of opinion was tacitly placed among the ideals not likely to be realised for a considerable period or relegated altogether to the Greek Kalpnds. But a change has como over the political situation. No Jonger & CO., ie the Referendam mentioned as a passing comment. It is being soberly and seriously

Sir Jin Jertan, the British Ministor in discussoll, and, as recent telegrams indicate, Paking, accompanied by Lady Jordan and Miss Mr. Barroun las afirmed his willingness | Jordan, loft London for Paking on November to accepta challenge to have a Referendum 15t Lou the subject of Tariff Reform. The pro

ESTABLISHED AD: 1841

The Bishop of Macao arrivod in Hongkong

WINE & SPIRIT MERCHANTS position is treated with contempt by yesterday. His visit is not dictated by affairs at

Protcited by the Telegraph Meways - Copyright Ordinance 1894].

{EXUTÈR'S ANRVICE TO THE “HONGKONG *

· DAILY FREES."{

OIRE-PONDENCE,

·DIRECTORS AND AUDITORS OF

HONGKONG COMPANIES.

TO THE EDITOR OF THE "HONGKONG DAILY PRESS,"] 81,-I have read with considerable satisfac tion in your weekly adition the long letter aildressed to you by Mr. A. R. Lowe in regard to the auditorship of the Canton Insurance Company.

respect of the outside world if their auditors were professional accountauts, and not amatours, who have drifted into the business. I do not my a word.against the latter class of mea, who may be, in some casos, quile as competent as tho insa who is able to show the certification of pro- toasigual ability. They served the publie com- panics of the Colony to the best of their ability. and experience when there were no daly qualified auditors in Hongkong, and I would not mggest the disturbance of their offes-except in one

The merits of this partionlar case I do not prominent instance-io long as the shareholders intond to review, nor do I intend to discuss there satisfied that their interests are being safe- relative merits of the various recognised iù-guarded; but I do suggest that whorever stitutes and societies appertaining to accountancy ancies ocour in the auditorship of a company,

POLITICAL PROSPĚCÍS.

LONDON, December 5th. The Unionists have not done so PRIME MINISTER, who, without mincing Matuo. He is simply here for a short clongwell as was expected, hat if the god the auditing of the accounts of public the post eaght to be offered to n properly-

proportion of Unionist gains be companies. Men of business, at any rate men at accredited accountant, if suck be available.

Hongkong, like other plans in the Far East, HI.E. Yuan Shikikai is reported to bo-so 30 maintained the result will be awkward the hand of the management of public companies, passing through a period of tribulation, but I

natters, has declared, that any statesman who seriously advocated such a scheme Great Britain would bo fit for

CHAMPAGNE for

and rest.

voll that Dr. G. Meny, of the Imperial Medi Bedlam. Strong words truly, and auga College, Tientsin, bus left to visit his pro for the Government."

fessionally. DE ST. MARCEAUX gestive of a lack of restraint unbecoming

& CO..

REIMS.

VINTAGES

1900

& 1904.

VIN BRUT AND VERY DRY.

PRICE

PER CASE 1 DOZ. QUARTS,

$57.00

PER CASE 2 DOZ. PINTS. PRICE

$59.00 THE MOST POPULAR WINE IN (ENGLAND AND EUROPE.

CREME

D'EPERNAY

A CHAMPAGNE OF FINÉ QUALITY

·

$37.00

such nu exalted servant of the Crown. Of course, it can be seen that Mr. Asquilins

vin

The Baffy have left Hongkong, and the place

n different conception of the Referendum to which they bave imported so much sporting to that held by Mr. BALapur. The latter will know the no longer. They were all ischiofly concerned with a mandate from the board the transport Hardinge in good time people on the subject of Tarift Roform. Then the steamer departed about noon. Their

even in Hongkong, should beaware of the value of those sepieties and of the qualifications requisito do not believe, as some, apparently, do, that it to secure fellowship, and should be at all times has passed the zenith of its prosperity and is ready and anxions to obtain the services of the bastening to disaster and disolation sail DEATH OF MRS. EDDY.

best-qualified accountauts for the audit and docay. If that is the belief that fomiantes certification of their accounts If they are not some of the men who are supposed to control the destinies of some of your public companies, so auxious, thon shareholders gifted with an LONDON, December 5th.

rilinary amount of acute should have their it is time they were replaced by men

in whom the vital forces of progress and. Reuter's correspondent at Boston interest aroused, ovon if they entertain no

proficienes have not become exhausted; und

PREMIK, on the other hand, is ovidently departum will be regretted by the community.telegrapha that Mrs. Eddy, the suspicions of the honesty and straightforward who hate the inspiration of courage and high

-bo

foundress of Christian Science, is seas of the management. For it may

postulated that no aut of basiness man désiconsopes to prevent disaster and to rehabilitate.

wherever they see signs of decay. dead,

of obtaining the highest degree of efficiency in

I havo often wondered how it is that "Hong- Mrs. Mary Baker Glover Eddy, the discovoror the conduct of a public company will resont

kong is tolerated the management of companies Bow, NH.. UEA, and was educated at privato specially-trained experts. schools and by private tutors. For Srst husband washfajor George W. Glover, her soond Daniel Patterson, D.D.S., and her third Asa G. Eddy Mrs. Edly, who wus a Congregationalist, discovered Christian Science in 1866,

In most

percentage that goes into the coffers of the

condemning recurrent Referendum na

Sentence of seven days' imprisonment was likely to create great financial burdens upon posed on a coolie by Mr. E. 1. Hallifox at the thomation This, it beconies apparent, that Magistracy yesterday for stealing a chicken, these protagonists are not agreed upon their Defendant in his statement said he saw the bird in and founder of Christian Science, was born at honest criticien and advice if advanced by by companies or privato concerns. terms. They are discussing different pro-ho vicinity of a blacksraith's shop at Aplichan positions, and consequently their divergence to fed it with some rice and it followed him, so

ke picked it up and carried it. of opinion is greater than it ought to be.

The one great example of the Referendun in operation is furnished by Switzerland It has been contended that the Swiss Refer- endum is a form of local revision which could not be imitated successfully in the United Kingdom, and it is pointed out that the only comparison between roting on Swiss lawe is the locni pichis- cites taken in cities in Great Britain or

As the result of a quarrel between two ageing it the following year, and organised mitted for inspostion. It was with the highest maanging company. I do not claim suy origin

Chinese weinon at Stanley last Saturing sight the Church of Christ, Scientist, in Boston, in one was removed to hospital and the ofhor was 1879. In 1881 she was ordained to the ministry, charged before Mr. J. R. Wood at the Magis and the same year founded the Machets Metaphysical College in Boston. Two years tracy w th issult. It appears that in the contenter she founded the Christian Science Journal, of the fight the wooan in hospital went off into in 1898 the Christain Science Sentinel. in 1903 a fit from which she did not recover until after Der Harold der Christian Science, and in 1908 the Christian Science Monitor (taily). Sho nine a'clock on the following morning. As she has published a number of works en Christian was not woll enough to appear in Court gestor-Science, including the Tort Book of Christian day the hearing of the case was adjourned; Science.]

.

TURKISH GOVERNMENT" CRITICISED.

policy, which Deputy Tewfik Riza

rule.

FLOODING IN FRANCE.

The science of sccountancy and the auditing cases, surely, a company is able to manage ita own affairs as economically as they can be man. of accounts means something more than the mère checking of book entries with the vouchers snaged by another company, and so saps the

degres of misfaction, thorofors, that I. inality for this ities. It has occurred to others common with many others thon resident in before now, but so strong is the force of "olo" Hongkong, burned of the decision of Mr Love Custom" that no action has been taken by sharo- to establish bimself in business as an auditor in holders. In times of prosperity, whon profita the Colony. There was no feeling of distrust wore good and shareholders get reasonably good of the gentlemen than suraged in the work, no dividends from their investments, there was suggestion of dishonesty; but it was felt that pozhaps, less necessity for openly advocating a the time had come whop, men passed and ac- now departure; but now that times are bad and cepted as properly qualified auditors by recog-profits restrictol, when shareholders have often nised socistics should be employed in this most to go without dividends and the only people who' responsible work.

thrive out of companies are the management and As you have doubtless learned from mannging companies, it is time that a strong perience, it is extremely dificult for share-protest should be raised by the patient and holders to express with indepodoboe the

suffering shareholder. I know it would be opinions they hold in regard to the manage dificult to procura emancipation in a fow casey. ment of some companies in Hongkong but necessity is often the beat spur to action, In Hongkong, we are all so much engaged in and all shareholders cannot afford to see capital taling in each other's washing that self-interest shrink before their cyns while fireators and closes the months of the majority of us.

So

Oven if wo start off in our career of investment

fées" or "coumissions." I do not my fees and commissions are not as hardly earned in thus of

forget, as many ia Hon. Long seem to have for- gotton, that directors' fees ware sometimes raised in the days of prosperity and have never bean lowered in the days of adversity.

in wards on free libraries and kindred questions. The differences between the

Maurico Caminius, a distressed British saman "populations of the two countries make it from Shanghai, appeared before Mr. J. R. Wood difficult to establish an analogy which would at the Magistracy yesterday on a charge of being be of value. Other pertinent objections are drunk and locatable. He was found lying stretched across the train line in Dos Voeux

LONDON, December 5th. that no other modern State betrays an PER CASE 1 DOz. Quarts.

Road on Saturday night and removed to the inclination to adopt the Swiss Referendtini, West Point police station. He passed the day

It is reported from Constantinople PRICE

$33.00 and that the unceasing general elections in there on Bunday singing (and dancing, and on that in the Chamber both Moslem miniature would involve a vast outlay of appearing before bis Worship yesterday and non-Moslem Deputies scathingly PER CASE 2 DOZ. PINTS.

money. It will be roadily admitted that ordered to pay a fue of $3 or go to prison for criticised the Government's home interlooked and complex are our interests that managing companies calmly poukot their yearly PRICE-.

$35.00 these objections possess considerable force, seven days.

but it seeina to us they are not valid to the PER CASE 4 DOZ, SPLITS,

proposition submitted by Mr. BALFOUE Wood at the Magistracy yesterday for assault

A Chinese was summoned before Mr. J. declared would terminate in tyrannical strong impulse to criticisco where we consider adversity as in times of prosperity; but I do not does not contemplate successive ing Mr. V. G. S. Rose, of 3, Morrison Hill Gap, Re PRICE-

elections.in miniature." All he uske is a on Saturday night. It appears that the com mandate from the electorate on the subjecplainant and a bluejacket, when welking A.S. WATSON & CO., of proposed fiscal changes. Admittedly, near the Soldiere' Club, a native behaving It is a novel suggestion, and one, like Tariff indoiently and caught hold of him. The lofon LIMITED,

Reform itself, which calls for considerable lant and another man, jostled Mr. Ross and elucidation before it can be grasped by those liberated the man he heid, and the defendant

kicked complainant on the leg. with whom tho decision of the issue lies. pointed out that Mr. Hois had no right to inter. The expense of such a direct appeal to the fore, and discharged the defendant. untion will be urged as a runson against it, but surely even the two million sterling--` the estimate. made by opponents of the amount each Referendam will cost will be All letters for publication should be written on well expended if it removes this question of me side of paper only.

thom through the windows, and have also Loon No anonymosity signed communications that Tariff Reform from the tangle of is.

papers will be sues bo'ore the electorate? Of course cutting holes in the walls of the buildings. Six Appeared

if the country decided in favour of of the ofenders were charged before Mr. E. R. Orders for xtra copies of DAILY PRESS should be sent before 11 477. on day of preferential tariffs it would be rather Halifax at the Magistracy yesterday. Two wh

Free Trade Govern threw stones, one of which hit an attendant, POZON After that how the supply is awkward for the

Only supply for Cash,

wore each sent to gaol for a incath without the option of a fine. Thres more vero cash fined $25 or fire weeks' imprisonment and another

ALEXANDRA BUILDINGS.

[25

NOTICE TO CORRESPONDENTS. ONLY communications relating to the news Correspondents must forward their names and addresses with communications addressed to the Editor, not for publication but as cuidence of good faith,

e. lumn should be addressed to Tus EDITOR,

have already nserted.

in other

Telegraphic Address: Press.

Codee: A.B.C. 5th Ed. Lieber.

P.0. Boz., 34. Telephone No. 12.

mont in power. They would either bave to carry out the mandate themselves or resign and allow the other party to do it. If the

His Worship

LONDON, December 5th. Alarming floods have occurred in France, particularly in the Loire Valley.

with a buoyant feeling of independents and u it justified, we are soon awakened from our dream of independance by the rude shocks of taipans who profess to welcome. but who invariably resent criticism in any shape or

These and other thoughts occur to one at a form, friendly or otherwise. We are not all in the happy position of Major Brown, of the distance upon reading Mr. Lowe's letter. The during his ideas I have expressed may not be palatable to Army Medical Staff, who, brief residence in Hongkong, was probably many, especially to some who stand in the

most

of outspoken critio local furofrout of the battle, fighting the forces of the

evor changing coenomio conditions face to face, but company management the Colony has known. But on Major Brown did not if you are good enough to pablish my letter and The situtation in Paris has become depoad an anybody's washing for his daily it has the effect of bringing courage to thỏ

bread and butter!

stalwarts who are adapting themselves to the struggle, it will not have been writion in raia. The old motto that "God helps those who help themselves" still holds good in Hongkong, sa The Colony is undoubtedly in the elsewhere. doldrums; but that is only a passing experienon. The trade winds of prosperity will once more propel it, and those concerns will first beanfit whose tails are trimmed to catch the brenze-=- Fours faithfully,

Chinese hooligang have been recently making their presence felt in the vicinity of the Empire less threatening. Cinematograph and the new skating rink. From dropping stones on the roofs they have Passed to the more dangerous prank of throwing

man was ordered to pay a fine of $30, in default

HONGKONG OFF: 10, Dis VŒUY ROAD 41swers favoured the maintenance of Free air weeks' incarceration.

LONDON OFFICE: 131, FLEET STREET. RC

The Daily

Press.

THE INSURANCE COMPANY PROSECUTION.

A 86.100 FINE.

Trade then the Liberal Ministry would be justified in the attitude it his adopted. But one Referendum, or even three, on the most vital questions before the country would, by the definite answers ob ained, be well worth the cost. The issues at subsequent General Elections would be clarifed and simplified, Ir the spoochos of the political leaders be and the real opinion of the country would accepted us a criterion, the most important be obtained, which, after all, is the corraum subject under consideration at the presentation all parties devoutly wish to boo Hip On Insurance Company, was summoned time in Grea Britain is not Tariff Reform, realised

HONGKONG, DECEMBER 6TH, 1910.

3

Home Rule (Federal or otherwise), or the The Caledonian Ball held at Shanghai on St. constitution of the House of Lords, but Andrew's Night is described as a brilliant the Referendinu. British politicians have success. hitherto manifested little more than an academic interest in this expedient. Indoed, it was scarcely regarded as coming within the regions of practical politics, but now, with little or no warning, it is submitted to the electorate as a matter of prime importance..

The value of the Referendum is not

EXTENSIVE FLOODS IN

ENGLAND.

We folt, some of us, that it was part of the functions of a real, live andliter that he should constitute himself to some extent a critle of the conduct of a company, that he was employed not by the management, but by the share holders, that his first daty was to the share- holders and not to the management. We thore fore hailed the advent of a proporly-qualified auditor bike Mr. Lowe, because we know from our acqusletance of him and the opinion of his abilities as an accountant held by those best able to judge of them that he would carry out an audit as it should be carried -HELP FOR THE NATIONALISTS. out, and that to would not hesitate to express his views should the management, in his opinjan. warrant criticism or suggestions for improve. mont.

LONDON, December 5th. Extensive floods are reported from the Fens and from the basins of the Treut and the Severn.

LONDON, December 5th.

It is reported from Boston that the United Irish League yesterday for- As the Magistracy yesterday afternoon Mrwarded to the Nationalists another E. R. Hullifax delivered his decision in the cass ten thousand dollars. in which Tam. The Kong, general manager of

.

by Mr. G. 11. Wakeman, the Registrar of Com- panies, for doing business in the Colony on behalf of the Weh On Insurance Company. without having registered and made the deposit required by the Life Insurance Ordinance.

Vr. H. L. Danura, Acting Crown: Solicitor. Manila newspapers report that the China Seaprosented, and Mr. Otto Kong. Sing jaffeared is maintaining The reputation this year, and for the defendant. remark that it is "still heaving."

His Worship stated that he intended to convict the defendant and fine Lira $20 a day, taking the time from the publication of the advertisement till the date of the summons.

Mr. Keng Sing--Fino him what, your Wor- ship?

His Worship Twenty dollars a day from the 10th January till the 10th November. That is 305 days.

Only two cases of communicable disease were notified in the Colony best week-one a case of enteric fever and the other a case of pucrporal

fever.

Discussion is taking place in Shanghai as to gainsaid by either of the great political the falling of in the unmber of entrants for the the International Walk, and fears are expressed parties They differ, according to reported utterances, of responsible politicians that it may have to be abandoned.

und

on either side, as to its practicability. The coolic who was charged with indecent

well 26 Liberals,

as behaviour at Kowloon last week again appeared Unionists Labourites, are agved that the present before M. J. R. Wood at the Magistracy, party system fails where it is necessary that yesterday. After hearing further eridoncs his a clear and definite answer on certain issues Worship convicted the defendant and sentenced

him to three months imprisonment. should be obtained, and any expedient offering a practical solution of this difficulty

Mr. Korg Sing-Will you Worship grant leave to sppeal ?

His Worship On what grounds? Mr. Keng Sing-Fast and law,

It will be a pity if the shareholders in Hong keng's public companies do not hold to this nct insist upon the best possible help being view of the duties of an auditor, and if they do obtained upon all occasions. The time has good by for the laisser faire policy. The staggio for existence is growing yourly, Keener and keener on the China Coast. Public companies require at their head man of imagination and

London, Nov. 7, 1910.

THOS, H. REID,

THE PROPOSED PERSIAN. RAILWAY.

A NEW ROUTE TO INDIA. -

The Tavs accrespondout at St. Petersburg wrote under date Nov. 15th:

The influental group of Russian financiers and public men who are promoting an inter national company for the construction of s traversing Persia, propose to obtain the nexes- railway from the Cansus to Baluchistan, siry cajatul in iussis, Britain, Franca, and other countries German co-operation may be invitad, and it is hoped that the Persians will sutively artisipate. This preliminary negotia tions with are now preseding between St. Petersburg, London, and Paris provided for the creation of a société d'études which will

Oh, erameut ad prepared for the formation of an

internation company,

NEW SOLICITOR ADMITTED.

At the Supreme Court yesterday Mr.ideas and initiative, not more automata, met apply for a concession from the Fusion Gov Leonard Boyid Needham was admitted a who will not be content to say: solicitor.

Hongkong is Enighed. There is no longer Mr. M. W. Blade, KC, in making the an outlet for British industry and outer- motion, suid-My Lord, in this matter I move in priso" or, "The Company would have done parauance of the notice that Mr. Needham be better last year if it had not been for Japanese admitted as attorney, soliciter and prester of competition and the sudden rise in the price of this honourable Court. The motion is supported ccall".

It is not merely a question of auditing and by affidavit by Mr. Needham himself and Mr. Harston, who knows him personally. His certi accountancy... fleates azo produced and a document of identi So long as Hongkong shareholders are fication from a solicitor in Worcester, where he content to accept the feeblo, emasculated and has been practising, is also produced and ineficient management of their affaire by On these facts I men chosen simply because they are the sous annexed to the affidavit.

of their fathers or the hereditary heads of sin tran's line will to built and controlled by the international company. The whole length His Lordship (Sir F. Piggott)-The affidavite certain concorns in the Colony, so long will the of the Persian.trunk line will be 1.100 miles, and papers are in order. Mr Needham, we have public companies experience financial landslides, and it will oust fifteen millions storling.

move for his admission.

The promoters aro satisfied-that ine examina tion of the commercial, political, and geogra hical instore must, ipuo fucto, decide in favour of this, the shortest cat to India. By the proposed route the journey from London to Bombay may masily be accomplished within the wreck.

The nor railway, starting from Baka, will skirt the Caspian Sea to the Persian frontier, whence it will proceed til Rosht; Taheran, and Kirman to the borders of Balushistan and Nashki. The scutions within Russian and British torritory will be under the exclusivo control of the respective countries. The Pet-

very much plature in welcoming you to ibis There is much needed a complete ororksut in The distincs from London to Bombay, vid Court and we hope that your stay in Hongkong

taking not more than

Mr. Dennys-My friend knows he must give will be enjoyable, a written notice.

Mr. Kong Sing→Yes.

His Worship-I wish to know your grouude

In the action by Messrs. Hall & Holtz,

first.

to restrain the defendant, from

ia certain to command the attention of Ltd., against. B. Jones in the Consular Court, at

serious-minded politicians. The only

Hankow

Mr. Kang Sing-I think they are apparent. His Worship-I think you'd better pat

Mr Needham-Thank you, my Lord. "e My Needham kas joined the firm of Meera Ewens and Harston,

the system of appointing consulting committees Alezaar,

milos,

thestoft and Baku, will be 5,700

journey

and directers of companies. Wherever possible seven days and costing 20 per cout, less than the

the best men, irrespective of particular proles journey vid Brindisi, which requires twelve and sions, caght to be secast. It should not be a balf days. The Baghdad route, vid the Per-

sian Gulf and Karnesi, would res

o, would require a little possible to read, as we so often do, that Mr. ander twelve days. Blank left the Colony in Octobar fast and

Commercially, the scheme would therefore be

RUBBER.

Queue cutting is proceeding ace in Hong. Mr. Pattyhosed his locum tenens, sometimes a advantagomus as a means of rapid transit from carrying on the trades of tailor, draper, ete..thum in writing in the mual way. You Long, and it is estimated that those who have good clerk, but of no earthly use on a Board of London to Pombay and for the development of suggestion so far offered is the Referendum. Mr. Bailey appeared for plaintiffs and Mr. bave seven days, of course. Perhaps it won'd been shorn of their long coils of hair in Hong.Directors) was invited to join the Board. A dir. the Persian market.. but, until the breakdown of the conference Frost for defondant. Judgment was given on meet the case if I alle wed a week for payment ? kong number many thousand. A interesting etorship should not become - as it has become appointed to consider the question of the November 25th granting an injunction against constitution of the House of Lords, the Jones acting as draper or outfilter's assistant as submission of one proposed public measure regards Hankow only till Janmry, 1915, each or law to the electorate for a direct expres

party to pay their own ecsts,

Mr. Kong Sing-If your Worship pleases. Er. Denuys-I have no objation.

His Worship-Ons week is granted for

payment.

“Rubber,” sigs a writer in a London paper,

ceremony was witnessed at the Chase Club on in ninety-nine cases out of a hundred- Sanday morning, when six patriarchal citizens the appannge of a particular firm in the Colony. had their quenes cut in public, an example which In many cases, these directors are the merest figure-heats, and are not always ornamental, was followed by hundreds the same day.

In others, local institutions would gain in the to leave

quotations are made by the professionals, who is dead. The dealers de no business and the having gone into the rubber market don't like