1913-10-09 — Page 5

East

The Wine Merchany of the lis

NAPIER

JOHNSTONE'S

感器

INDIAN CURRENCY.

THE HONGKONG DAILY PRESS, THURSDAY, OCTOBER 9TH, 1913,

The evidence given up to August 6th before the Indian Currerey Commission is published to-day, says The Times el the 12th ult. The Commission bas decided to issue this evidence without at present making any comment or recom mendation. Wo think it was well advised in taking this course, as the publication of the evidents and appendices will satisfy the great majority of those, who are interested in India that there has been a great deal of exaggeration in the criticism of her financial arrangementa At the same time it is clear, from s careful peruml of these volumes, that the system

certain can be improved in respects, and that, apart from any actual changes in the machinery by which it is' INtion bearing on its working is now before worked, a good deal of valuable informa

SQUARE BOTTLE"

WHISKY. UNVARIED FOR OVER 150 YEARS.

THE SAME TO-DAY AS

1745.

BEWARE OF IMITATIONS.

SOLI AGENTS IN HONGKONG LANE CRAWFORD & CO.,

and from ALL WINE MERCHANTS,

PASSENGERS.”

ARRIVED.

[74

the Government of India and the India

Ofica, which we have no doubt will be of mach assistance to them. It is not sur!. prising that an investigation should have bean asked for. Sinco the Fowler Com- mittee sat in 1898 to consider the currency land banking arrangements of India, a good deal has cemurred. That Comptaittee,

it

on the whole, made sound recommenda tions, but some of the measures approved have never been agted on and olliers have been modified in practico, while difficulties have arisen for which provision was not made in its scheme. There is good reason to hope that the Comunission will now be able to, make good some of the defects of the existing system. That there were such defects has been fairly obvious for some time past, Doubt had arisen in the public mind whether the control of the India Office our Indian finance was always exercised with the necessary wisdom and the neces Per Haiyang, from Foschow, etc., Mr.sary discretion. It is no discredit to the and Mm. Huygen and child, Miss Mar-Fowler Committee that it could not shall, Commander Wilkinson, Major foroses everything that would occur after Dickinson, Messrs. H. P. White, M. it had reported, or to those responsible Neubrum and Palmer.

Fer Fingchuw, from Shanghai, Mr. Turner.

Per Thongwa, from Singapore, Vorealt

Mr.

Per Eastern, from Kobe, etc., Mr. and Mrs. 0 Porisse, Mr. and Mrs. J. M. Brookes, Mrs. A. B. Hans, Mr. H. Bland, Mr. Jagger, Miss A. Jaggor, Mrs. W. Longworth, Mrs. Gray, Mr. Driscoll and Mr. E. Brown.

DÉPARTED.

Por Aki Maru, for Jupan Capt. Muramatau, Mr. S. Kadota, Mr. M. Dzushi, Mr. B. Yamazaki, Lient. Haya shi, Mr. Matsubara, Mr. T. Urabo, Mr. Malbani, Miss Fuller, Mr. T. Hirose, Mrs. F. C. Jenkin and infant, Mr. T Sugawara, Mr. and Mrs. Murei, Mrs. hain, Miss E. T. Patiendep, Miss M. Robinson, Mr. and Mrs. Hattori Mr.

Duddeck and Mr. Randall.

for the welfare. of India that they have not always been able to me their way to dal antisfactorily with the new difficulties which have arisen from tits to time. The series of letters which we published last winter from a Correspondent in India who was much in sympathy with: de views of Mr. M. de P. Webb, thu chairman of the Karachi Chamber of Commerce, expressed in an emphatic tunner a feeling, which was fairly general in the country, that the system needed overhauling. It was because we : knew that a certain degree of want of confidenec existed that we allowed its expression in The Times. pondent's energetic outburst was useful, though he tried, perhaps, to prove 100

uch.

The Corres

19

WM. POWELL MOUTRIE'S

LTD.

TALEPHONE: 346]

THE

HOUSE FOR SOFT FURNISHINGS

LUNQUESTIONABLY THE MOST EXTENSIVE AND VARIED

RANGE OF

CRETONNES, TISSUES,

BOLTON SHEETINGS,

CASEMENT

CLOTHS AND LINENS,

IN THE COLONY.

PATTERNS.

SEND FOR

INDO-CHINA PORTLAND CEMENT COMPANY, LTD.

FAMOUS

DRAGON

BRAND

CEMENT

CE

PORTLAND

HAIPHON

ALWAYS IN STOCK

HIGH

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BUILDING

CEMENT

Apply to P. SOFFIETTI & Co.. 14, Das Voor Road Contral, ist Floor. Telephone 289,

Per Empress of Asia, for Shanghui,

The evidence of the witnesses who have Mrs. J. Groves, Miss Owen, Mr. W. Taltos, Mr. J. Fasse, Mr. D. B. Murray, en examined covers a wide aren; it was Mr. R. J. Judah, Mr. da Silva, Mr. right, and also expedient, that all views L. Concercao, Mr. R. F. Fearon, Mr.hould be put before the Commission. R. T. Fearon, Mr. Maugras, Mr. J.A great deal of this evidence, as usual Wildos, Mrs. Layton, Lieut.-Col. H. W.in such cases, is of little value either to Iles, Dr. Chadwick Kew. Mrs. N. J the Commission or to the public; some

Q.

for of it will be valuable to these engaged authorities are Marshall; Blackroad, Mr.

The Nagasaki, Mr. C. Cleland; for Yoko in this administration of India, and some hama Mr. C. Little, Mr. James Gray; any be valuable to business men. For Vancouver, Mr. P. B. Lawler, Mrain points of the inquiry, however the F. Finnell, Mr. E. Pinnell, Mr. S points on which centroversy has been Morton, Capt. and Mrs. R. E. Coonts, keen-are not numerous. First among the Mrs. J. J. Raby, Mrs. J. Williamson, subjects of controversy which, so far as Miss Simpson, Missus B. and T. Ormis we can see, are definitely settled by the ton, Mr. L. C. Thomas, Mr. and Mrs.weight of evidence is the question-- T. W. Kyk and Miss B. Harrison.

PASSENGERS EXPECTED.

113:

&o.

t

|

$10-19

A CASE OF PLAGUE IN MANILA, QUITURES DÉTERMINE SOURCE OF INFECTION. We take the following from the Manila Cablenews:-

NEW

OVERSTRUNG

$425.

MODEL

A LIBERAL DISCOUNT FOR CASH.

GUARANTEED FOR FIVE YEARS.

S. MOUTRIE & CO., LTD.

BANKS

{\HE CHARTERED BANK OF INDIA,

AUSTRALIA AND CHINA.

INCORPORATED DY ROYAL CHARted, 186) HEAD OFFICE-LONDON.

PAID-UP CAPITAL

RESERVE FUxD Reserva LIABILITY OF PROFRIE-

това

£1,200,000

£1,700,000

$1,200,000

FOREIGN EXCHANGE and General Banting business transacted.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for 1 year or skorter periods at rates which will be quoted en application.

A. S. HEWETT,

Acting Manger Hongkong, 14th April, 1013 [1.33

T

BONGKONG SAVINGS BANK.

TED Business of the above Bank is con

duated by the HONGKONG AND SHANGHAI BANKING CORPORATION. Rules may be obtained on application.

INTEREST on deposits is allowed on the Minimum Monthly Balances at 34 per cons

per annum.

N

BANKS

[629-J

TEDERLANDSCH-INDISCH HANDELSBANE. (NETHERLANDS INUXA COMMERCIAL DANE.)

ESTABLISHED 1869.

Authorised Capital VI. 20,000,000 (£2,500,000); Paid-up Capital. Fl. 17,407,000 (£1,450,638) Reserve Fund. Fl. 6,518,000 (£543,108)

HEAD OFFICE: AMSTERDAM. HOLD AGENCY BATAVIA.

LONDON BANKERS: THE WILLIAM DEACONG BANK. SW198 BANKVEREIN.

The Bank transacts every description of Banking and Exchange busines, "recoires money on Current Account and on Fixed Deposit at rates which may be ascertained on application.

G. VERMEY, Manager, No. 8, Des Voeux Road Central. Hongkong, Brd October, 1913.

NTERNATIONAL BANKING

CORPORATION.

Interesting experiments with bubonic AND SHANGHAI BANK to be placed on FIXED HEAD OFFICE: 00, Wall Street, New York

plague cultures rende by the bureau of science during the past few days have proved the origin of the definitely

which

Editor carried off infection

On September 8th, it now appears, u Crozier, of the Manila Daily Bulletin.

A plague rat was found in the block guinea pig inoculated with a culture adjacent to the Stewart Building. from the dead rodent promptly developed the disease. Mr. Crozier was taken ill and diagnosed his ailment as bubonie plague on September 20th. He died two days later. In one of the drawers of his desk there was found by bureau of health inspectors, the mummified body of a rat and a number of fleas. One of the fleas was

£41 examination revealing the tory, taken to the bureau of science labora presence of plague bacilli in the stomach The mummified rat was of the insect. ground up and the material thus secured inoculated into bealthy laboratory rats, in typical attacks of which resulted plague in these rats.

There are few cast's on record," a Cablenews- yesterday, American representative Doctor Heiser said to Government completely proven as in the case of

Mr. Crozier."

State ought not to sell below le, 41-16d. or evon le 42. If appears to be thought by Mr. Webb and some, others that the rule could be fixed at any price the Secretary chose, even- 18. Od. Another suggestion made was that the Government of India should promise to “support exchange" by selting bills or London at is. 329/32d. when any one wanted them at that price; but the best opposed to any such undertaking, leaving the Government free to act in othergencies as it thinks best. Among the apparently more practical, reforms suggested is one for changing the Budget year, which at present is from April 1st to March 31st. This obliges the Government to prepare the Budget a long time before the monsoon breaks; it is thus something of a gamble as to the harvest every year, necessitating the keeping of bigger balances than would otherwise be necessary. October 1st to generally approved emendation of the September 30th seems to be the most period; bat, if the Commission decide to make any recoinmendation on the sub- ject, there are other suggestions for their fairly consideration. There seems to be general opinion that the India Govern ment might with advantage lend more, freely than it does to the Presidency banks. The chief objection to this is that the habit of relying too much on obtaining financial aid from the balances, which might not always be available Opinion as to the desirability, and still more the practicability, of State Bank for India does not seem to be very decided, but on the whole it is mint adverse. The establishment of u

find littl for gold also appears to support among the witnesses.

Where should the gold standard reserve he kept? The answer from almost every body, excent Mr. Webb and one or two others, is that the proper place for it is London. Even Mr. Webb admitted, after! Per P. & G. str. Moldavia, connecting with cross-examination, that, if kept in India, the steamer Delta at Colombo, from London it would have to be sent to London when Difference of opinion September 6th. To Hongkong: Mr. and a crisis occurred, Mr. J. W. Glayu, Mr. and Mrs. B. Eastace arises as to the form the reserve should Until lately it has been kept and children, Mr. G. P. Curvey, Mr. and take. Mrs. 4. Gordon & children. From Marsailles entirely in securities, a practice condemn September 12th. To Hongkong: Roy, and ed by the bulk of the evidence

published, which is in favour of holding Mrs. W. B. Patou and children.

Per P. & 0. str. Nubia, from London a large proportion in the actual metal. Gourley, Mr. and Mrs. N. G. Nolan and to hold at least £5,000,000 in gold, bat business world of India might get into the where the origin of infection has been September 6th.To Hongkong: Miss M. The Indian Government has now decided

now

children, Mrs. and Miss Taylor and child, most witnesses advocate £10,000,000, and Mra C. Owen, Mr. W. C. O. Taylor, Mr. some £15,000,000, out of a total of T. Taylor, Mr. G. H. Murphy, Mrs. R. £30,000,000, the balance to be in short- Baker, Mr. G. R. Hake, Mr. D. J. Brown, dated securities, Somme, of whom Mr. Miss 1. King.

Webb is one, are in favour of holding the Por P. & 0. str. Medina, connecting with, who in gold, but this is considered the steamer India at Colombo. From ou unnecessary and wasteful by the majority don September 19th To Hongkong: Mrs. of witresses; it certainly seems to be a Cubbin and child, Miss Cablin, Mr. A counsel dictated by excessive devotion to a Madride, Mias A. Lennox, Mrs. F. Aquixotic ideal. The Commission has a Simons, Mr. and Mrs. E. W. O. G. White, task of some difficulty before it in desid- Mr. R. B. Mair, Mr. T. S. Adames.

ing between the views laid before them.

rency reserve.

MONTE CARLO SCHEME THAT FAILED,

Per P. & 0. str. Sunda, from London Among the interesting points brought September 20th-To Hongkong: Mr. Wout by the evidence is the growing dia- Allan, Mr. J. H. Bari, Miss W. Stubbs, Mr. satisfaction perceptible among those who Resnie, Mrs. F. P. Lachlan, Miss D. Stone have studied the affairs of India with the For. P. & 0. str. Mongolia, connecting complication of reserves that now exists. with the str. Devanka at Colombo. From There is the gold standard reserve with a

The extraordinary credulity of an army Tondon October 3rd and from Marseilles silver branch, and the paper currency:

man £280 to October 10th To Hongkong: Mr. I. reserve, held partly in India and partly captain who advanced a Goaperta.

For P. & 0. str. Sardinia, from London in London; these reserves are, for certain exploit en "infallible system" for wit October 4th-To Hongkong: Mrs. G. P. nad purposes, interchangeable, in so far as ning at Monte Carlo was revealed at they are sometimus employed jointly for London Bankruptcy Court when Captain. Miss Lammort and children, Mrs. Barrington, purposes to which only one of them is

A. St. . Seton appeared for examin Ms. Bolton, Miss P. Keith, Miss C. strictly applicable. One of the witnesses,

His assets are £282 less than the Forrest, fire. Martin and child, Miss F.

liabilities. Gibbon, Mrs. J. Buckmill and child, Misir. Barrow, & retired official of high tion. N. Wilden, Miss B. E. Newcombe, Mis standing, has come to the conclusion that Bridges, Miss McCurry, Mr. E. Dawson and India does not really need a gold stand. It is a very short step child, Miss A. Armstrong, Miss C. Boyant,ard reserve, but must have a paper cur 3fisa 1. O'Dell, Mrs. J. S. Dobie, Rev. and from the contemplation of this iden to Mr. J. C. Harlow and childran, Mr. Thomas, Mr. and Mrs. W. C. Rothaey and the contemplation of single consolidated reserve, a conception to which many children.

witnesses seem to be favourably inclined, Por P. & G. str. Macedonia, connecting with the steamer Asaye nt Colombo, From though they see varios practical obstacles Loudon October 17th and from Marseilles to its malisation: Their tentative move. October 24th-To Hongkong: Mr. A. Moments in this direction are well cummed is, reply to Sir Shapurji Brocha, that gomery, Capt. W. W. Lindsay, Mr. and up by Mr. F. CLa Marchant, who said, Mrs. Shepard and child.

it might be done eventually," but that Per P. & 0. str. Simla, from. Londen October 18th To Hongkong: Innce-Sert, at present there is some advantage in W. Rodes, Mies L. E. Walker, Mrs. Kennedy keeping the systems separate!** and children, Miss B. S. Ward, Miss L. consolidation could be carried out the Bartoll, Major f. L. Hopper, Mrs. C. currency syslem of India would be much Parsons, Me. R. K. Miller, Miss F. Hoggs, simplified, and the views of the Commis Mr. and Mrs. E. Walker, Mr. C. Walker, sion on the point will be looked for with jen, Mrs. Cousins and children, Mes much interest. The attack on the India Council for selling Council drafts and Brown

telegraphic transfers on India at under 16. 43 per ruse revaled mare ignorance not only of economies but of actual basi ness than might have been expected, who laid it down that the Secretary of Among the witnesses there were several

A N.Y.K.

Per NY.K. str. Ahi Maru, from London August 30th-To Manila: Mr. and Mrs. R., Miss J. and Master It. Alberto. To Hang Jong: Mr. B. H. HI King, Mise S. Ho Shoo, Mr. T. Hunter.

If the

He said that in 1870 be obtained a commission in the King's (Liverpool) Regimert, and served in India, Burma, the West Indies, and in South Africe in the Boer War. In 1911 he advertial "that gentleman with a small capital and was desired a sound investment, answered by a man named Francis Slater, who said he was the sole proprietor of an infallike mathematical system of Bro- gression for operation at the roulette tables at Monte Carlo. Witness advanced him £30 to exploit his system, and was to receive 8 per cent, per month of the profits, Between June and October he The Assistant Receiver: I believe that received £44.

the working of the system depended to

the extent upon

state af the atmospheric pressure Yes.

an

Ho represented to you that the weather was tuo hot, that his system would not work part of the time Yes.

Then I beliere be fainted at the tablo

gaming Yes, through the heat and could not consigno

The money was all lost ?--Yes. The examination was concluded.

MARTIN'S

QE PIOL & STEEL COMPILLS

A French KAR *Izafakarition'

Thousands of A

to the basso, § Rign of any Irregularity of synta

maly dose may be maminintered. Thaway Exo sum Rich fecerated them, hence tidy

maid Htorck sell thum Ebenachout MARTIN, Chemint, Bouthampton, Eng.

MARTIN'S

SAPIOL SSTEEL Aade PILLS

FOR:

NERVOUS EXHAUSTION

LOSS

of

MEMORY

and

BEBILITY.

and

to

fend the HERVES

CHAPOTEAUT'S PHOSPHO-CLVORIETY OF LIME

1 increases vital energy and nerve force, cures Hourarthenia, Dyspepsia, Sagala, and narcouk Mistases in adults and hildren.

IN SAPSULES, O WIRE, AND IN SYRUP

123-4)

Depositors may transfer at their optiouTN balances of $100 or more to the HowGKONG DEPOSIT st 4 per cent. per sanUM,

For the HONGKONG AND STARGRA LONDON Orvice: 6, Bishopsgate, E C.

BANKING Conponation.

N. J. STABB,

Chief Manger Hongkong, 1st July, 1911.

BRANCHES:

Bombay

Kobe

Calcutta

Manio

(10

Canton

Mexico

Cebu

Panema

Colon

Peking

Empire

BANE

Shanghai

Yokohama

THE WOKOHAMA SPECIE

LIMITED.

Avznonised Capital Yen 48,000,000 FAID-UP CAPITAL

Yen 30,000,000 RESERVE FUND

Yen 18,560,000

Han Orfion--YOKOHAMA. Branches and Agencies at Antung-Hain Liao-Yang Ryojon Calcatta

(Port Arthur Landos Bombay

San Francisor Los Angeles Shanghai Lyone Tishling

Changchun

Dairon (Dalny

FengtientMukden)Nagasaki Tienkic

Hankow

Harbin

Honolulu

Kobe

Nowchwang Toky New York

Osake

Peking

INTEREST ALLOWED ON Current Accounts Depusite received for fixed periods at rato to be obtained on application.

EISHI ONO, Manager. Hongkong, 30th September, 1913.

THE

Hongkong

Hankow

San Francisang

CAPITAL AND SURPLUS *

87,000,000 equal £1,460,00 EVERY DESCRIPTION OF BANKING

BUSINESS transacted. CURRENT ACCOUNTS opened on the sa

torms.

DEPOSITS RECEIVED, Sxed for one year

at 4 por cont. per annum or for shorter periods, st rates which may be ascertained on application. BILLS. NEGOTIATED and COLLECTED. MAIL and TELEGRAPHIC REMIT-

TANCES rada. LETTERS OF CREDIT

THE

and DRAFTS granted on all the principal cities in the World. BANK'S CIRCULAR LETTERS OF CREDIT are available all over the World.

COMMERCIAL LETTERS OF CREDI

isoned.

PURCHASE and SALE of Stocks and

Sharos effected. TRAVELLERS' CHECKS soid and cashed

GEORGE HOGO,

[464

9, Queon's Road,

HE BANK OF TAIWAN, LIMITED

(INCORPORATED BY SPECIAL Iranial CHARTER).

Capital

......Yen 10,000,00 Capital Subscribed (paid up)..Yen 6,250,00 Yen 2,820,00 Reserve Fund

HEAD OFFICE: TAIPER, FORMOSA.

Amoy Auping Cinton Foochow Koclung

BRANCHES AND AGENOTEN:

Swatom

Kote

Nagasaki

Osaka Shanghai

Τσίκαια

Tangui

Tokyo

Yokohama

HONGKONG OFFICE,

3. Das Vœux ROAD.

Interest allowed on Current Accounts Deposits received on terms which tay

I had on application,

K. TSUDZURABARA, Manager. Hongkong, 1st May, 1918.

BANK MERCANTILE

THE INDIA, LIMITED.

Authorised Capital

Subscribed

Paid-up

JJ

Reserve Fund

BANKERE!

and

BANK ENGLAND,

(OSA

0:

£1,500,000

1,125.000

602,500 $15,000

LONDON JOINT STOCK BANK, LIMITED.

INTEREST allowed on Current Accoun as 2 per cent. per ennum on Daly Bolso and on Fixed Denosits at rates which maTM

A. B. LINTON,

Manager.

be ascertained on application.

Hongkong. 14th July, 1913.

[870

Manager.

Hongkong, 2nd November, 1919. [2%

TONGKONG AND SHANGHA HANKING CORPORATION.

· Paid-up CarITAL

RESERVE FUNDS --

STERLING

$15,000,000

£1,500,000 at 2/-$16,000,000 SILVER

$17,450,000

$32,450,000 Reserva LiabcLITY OF PROIʻIORS $15,000,000

COURT OF DIRECTORS.

8. II. Dodwell, Esq. Chairman, Hon. Mr. D. LANDALE -Deputy Chairman. J. A. Plummer, Esq.

G. Friesland, Esq.

C. 8. Gubbay, Esq.

IP. H. Holyoak, Esq. G. R. Laurenz, Esq.

F. Lieb, Esq.

W. L. Pattenden, Esq. H. A. Siebs, Esq. Hon. Mr. E. Shollima,

CHIEF MANAGH: Hongkong-N. J. STAH

MANAHER:

Shanghai. G. STRTHEN..

LONDON BANKERS:

LONDON COUNTY AND WESTMINSTER BANK, LIMITED.

Hoyarong-Jarruest ALLOWED,

On Current Arroient at the rute of Twa. per cent. ner amom on the Daily Balance. Os Fixed Derosis.

For 3 months, 21 per cent, per Annum For 6 months, al per cent. per Antura. For 12 months, 4 per cent per Ännam

N. J. STABE,

Chief Manager. Hongkong, 16th August, 1018.

[10