1914-01-06 — Page 5

Cutler Falmert

The Wins Merchany of the Lase

NAPIER JOHNSTONE'S

CHINA'S FINANCES.

THE HONGKONG DAILY PRESS, TUESDAY, JANUARY 6m, 1914,

THE CENTRAL GOVERNMENT AND THE PROVINCES.

Some time age, the Ministry of Finance wired to the Central Taxation Bureaux of the different provinces instructing them to remit the revenue to the Central Government in order to relieve the financial stringoucy, but most of the provinces did not respond to the circular telegrain and they sent no money to Peking. The Shantung Province, however, promised to send $400,000; Kiungai, $10,000; Chekinng, $200,000 Shausi, $180,000. The total amount of the revenue from these provinces is not enough to tide over the financial situa tion. A few days ago, a meeting was held in the Cabinet. It was finally decided that the President should be requested to issue a Mandate ordering all the provinces to aid the Central Govern- THE SAME TO-DAY AS IN despatch prepared by the Cabins to the ment financially, The following is the

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THERAPION

DISCHARGES, WEAKNESS, PILES, SEND STAVISS

FIRM, TORE DEPOZ

CURS

TET HEVORAUSE (TASTRE 289) PORTO, LARA YOU

SADY TO TAKE

THERAPION AND

[74

*E THAT KANONKO TO ALL OBNUINE TACKSTE

CASSING CURE, 175 WORD THERAZION IS ON

TO.

TO LET

TO BE LET.

From 1st January, 1914,

"OLDESLOE,"

Kowloon.

Apply to

PATELL & Co.,

President concerning the matter.

"Finano is the most important factor in the administration of a country. Sinco the establishment of the Republic two years ago, the Government must spend 86,000,000 every mouth for administrative f purposes, not including the interest to be paid for the foreign loans, indemnity and miscellaneous items. This anotat

of money cannot be reduced any further. The Central Government has no special source from which to and must solely depend upon the pro- get funds, vinces for support.. But at present, instead of remitting the regular revenue to the Central Government, the provinces have been asking the latter for financial support. Thus far the Government has reoived from Honan Kwangtung and Kiangsi only $1,800,000, but it has given to the different provinces subsidies amonating to $14,000,000. As there was no place to

THE

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T

THE MERCANTILE

Authorised Capital

Subsoribed

Paid.ap

Reserve Fund

secure tands the finercial INDO-CHINA BRICKS. TILES, PIPES

stringency of the Government reached the extremity. The Government had ata resort to the contract of foreign loans. The Quintuple loan was concluded, but itg proceeds were exhausted by September. The other loans have their special pur- poses, and their proceeds could not be used otherwise. And yet the Government has to spend every month $5,000,000 besides other expenses such as the pay- ment of interest and of arrears of the Boxer indemnity. Unless the provinces come to the rescue of the Government, the latter will be placed in a very dangerous position. If the Central Government is destroyed, how can the provinces remain ? The Ministry of Financo in aary Western country controls the finance of the nation, and this should be the same in this country... During the Dynasty, the Central Government used to late Ching receive regularly a certain amount of the revenue from the different provinces. Although at that time the financial condi- tion was in disordor, the Mancha Govern- ment was able to support italf. After the establishment of the Republic and the unification of the country, the relation of the Central Government with tha provinces is similar to that of brothers or to that of the head and the hand. They should look after each other's interest.

No. 110.5 AINA VILLAR adjoining Acting upon thie principle, the Cantrad Kimberley Administration wired to the different provinces informing them of the true financial condition of the country, and instructing them to send all the surplus. According to the budget of the third year, of Hsuan Tung of the late Ching Dynasty, deducting the salt tax and the indemnity fands, the following surplus, were shown:-

79, Wyndham Strant, or

A. Abdoolrahim, Architect.

34, Queen's Road Central Hongkong, 26th November, 1913. 1372

TO LET.

FFICES in King's Building.

No. 153, PRAYA EAST,

THE HONGKONG LAND INVEST- MENT & AGENCY Co., LTD.

Hongkong, lat January, 1914,

Apply

TO LET

Chihli Fangtien

Kirin

Heilungkiang

Shangtung

..$ 5,287,470

4,564,637

2,201,038

Нови

Kiangsu

Anhui

165

Kiangel

Кидай

Hupeb

Fakion

Chaking

Kwangtung

-1,800,059 2,520,901 8,279,417 11,377,949 9,522,454 7,270,848 7,481,440 7,140,560 4,774,039 6,884,351 21,063,995

Kwangsi

Shansi

Shensi...

2,415,664 5,797,852 8,414,418

Szechuan

19,177,202

[742

Kwelchow

252,840 744,439 2,668

SHOP, No. 12, Queen's Road Central

No. 9, MOUNTAIN VIEW, PEAK.

3, FAIRVIEW, Nathan Road, Kowloon.

Apply to

M. J. D. STEPHENS, Hongkong, 11th December, 1913,

TO LET.

FFICES, ROOMS, and GODOWNS, on Ground and Bond Floor, 102

Your Road Central, the Premises now occupied by The South China Morning Post, Limited.

Possession, Ist May, 1914, or earlier. FLATS, "WILD DELL," Wanchai Road. HOMESTEAD," No, 45, Peak. Immediate

presession.

Apply to-

SANG KEE, Care of COMPEADORE DEPARTMENT, Hongkong and Shanghai Bank, Hongkong, 28th October, 1913. [1083

TO LET.

FFICE on Third Floor of Hotel Mansions, Apply to

HENRY HUMPHREYS Alexandra Buildings. Hongkong, 16th December, 1918.

TO LET.

[1436

FOUR-ROOMED HOUSES in Granville Avenue and Salisbury Avenue, Kowloon

Cheap rentals.

SHOP with GODOWN attached, Nathan Road, Kowloon. Kowloon Marine Lot No. 48, with Wharf

Apply to-

HUMPHREYS ESTATE & FINANCE

Co., LTD., Alexandra Buildings. Hongkong, 12 November, 1913.

TO LET OR FOR SALE.

f1331

Kansu

Butyvancheng

The total amount of surplus-

from those provinces is....$117,919,209 year of the Republic, the yearly surplus According to the budget of the second

should be as follows:- of the revenue of the different provinces,

Feugtion...... Shantung Honar. Kiangan

Anhui

$ 3,247,080 2,906,918

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MISSING BANK COMPRADORES. and his assistant compradores et the Sabsequently Mr. Wang Hang Chow Hongkong and Shanghai Bank disap- representative of the Bangkok Times, peared,

The Agent, said, the books and monies in charge of

Doen by

those men were in perfect order. Wang Hang Chow had been much worried

Mr.

(629.2

BANKS

BANK

INDIA LIMITED.

OF THE BANK OF TAIWAN, LIMITED.

...£1,500,000

(INCORPORATED BY SPECIAL Imprezaz CHARTER):

BANKIES:

BANK OF ENGLAND,

and

1,125,000

562,500

Capital...

Yen 10,000,000

415,000

Capital Subscribed (paid up)

6,250,000

Reserve Frind

2,620,000

LONDON JOINT STOCK BANK, LIMITED.

INTEREST allowed on Current Account

at 2 per cent, per annum on Daily Balance and on Fixed Deposits at rates which may be ascertained on application.

A. R. LINTON, Hongkong, 15th July, 1913.

Manager.

(788

HONGKONG SAVINGS BANK.

HEAD OFFICE: TAIPER, FORMOSA.

BRANCHES AND AGENCIES:

Amoy

Swator

Tainan

Anping

Kobe

Torrsui

Canton

Nagasaki

Tokyo

Foochow

Danka

Yokohama

Shanghai

HONGKONG OFFICE,

Interest allowed

3, DR Vaux ROAD.

on Current Accounta Deposite received on terms which may be

THE Business of the shove Bank is con- fhad on application. THE

duoted 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 cent, per annum.

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

[1272

Depasitors may transfer at their option HONGKONG

balances of $100 or more to the HordKONG AND SHANGHAI BANK to be placed on FIXED DEPOSIT at 4 per cent. per annum.

For the HONGKONG AND SHANGHAI

BARKING CORPORATION,

N, J. STABB,

Chief Manager,

Hongkong, 1st July, 1811.

N

[19

JEDERLANDSCH-INDISCH HANDELSBANK.

(NETHERLANDS INDIA COMMERCIAL BANK.) ESTABLISHING 1863. Authorised CapitalFl. 30,000,000 (£2,500,000) Paid-up Capital... Fl. 17,407,000 (£1,450,688) Reserve Fund. Fl. 6,618,000 £543,186)

HEAD OFFICE: AMSTERDAM. HEAD AGENCY: RATAVIA LONDON: BANKERS: THE-WILLIAMS DELOONS BANK. SWIB DANKVRBEIN,

Banking and Exchange business, receives The Bank transacts every description of

refuse to obey the order of the Govern ment, they shall be duly punished. Those provinces which have deficits must strive to take receipts meet the expend tura, and introduce financial reforms Efforts must be made to improve the financial condition and to make it similar to that in the third year of Hsiung Tung, The telegrams have been already sent to the Tutabs, Civil Governors and the over the failure of the Chino-Siam Bank, money on Current Account and on Fixed Central Taxation Bureaux of the pro- and was interested in the affairs of the Deposit at rates which may be assortained vinces instructing them to carry out the Biar Rice Milling Co. He had been on application. order and devies means to aid the heard to threaten to commit suicide a Government, The Cabinet requests the few days previously. He had been in the President to issue a Mandate ordering service of the Bank for something like the Civil Governors and the Chiefs of nineteen years and only returned from a Taxation Bureaux to remit the surplus holiday a week or so previously. His

to Peking without fail, and remit the assistant was likewise on old employé of first instalment within this year."

worry of the past week had led them the Bank. It was conjectured that the to absent themselves from business.

has issued an Order to the Provincial In reply to this petition, the President Governments.

THE FINANCIAL TENSION. IN SIAM.

9,202,705

3,063,998

1,070,020

Kiangsi

3,008,189

Hunan

503,167

Cheriang .....

6,724,483

Kwangtung

4,815,886

Bays:--

Shousi

Szechuan

115,389 3,408,201

A BLACK WEES.

The Bangkok Times of the 20th ult,

It is estimated roughly that the financial dislocation will cost the country altogether something like L million

Thus there is a deficit of 885,744,923 in sterling. In this estimate is included the comparison with the sum in the budget loss to the commercial community, both of the third year of Hauan Tung.

Formerly, besides remitting a certain amount of the revenue to the Central Government, the provinces helped each bally. The expenditure of tively small, but at present the receipts payment. Nai Chalong arrested. the Central Government was compara

Tuesday, Government announces it

banks, and the losses sustained by the Chino-Siam bank. Truly a block week... European and Asiatic, the losses of the Its record day by day was:

Monday- Chino-Siam Bank auspends.

expenditures are large. As stated before, as far as it can. of the Republic are limited, while the will support the Siam Commercial Bank the Central Government must spend at

The Agent of the Bank informed the Police that the Bank will pay Tes. 2,000 to anyone giving information leading to the, arrest of the Compradore, Wong Hang Chow, or the assistant Compradore, Li Kwan Pui, or Tes. 4,000 for them both. Similarly the Ranque de l'Indo- Chine will pay Tes. 2,000 for information leading to the arrest of the compradore, Eo Shiu Hee.

GRIMAULT'S

SYRUP

OF

FOR

STUBBORN COUGHS

G. VERMEY, Manager, No. 8, Des Voeux Road Central. Hongkong, 3rd October, 1918, :: [21

THE CHARTERED BANK OF INDIA,

AUSTRALIA AND CHINA. INCORPORATED BY ROYAL CHARTER, 1859. HEAD OFFICE-LONDON.

Paid-up Capital...

£1,200,000 Beserve Fund... Hoserve Liability of Proprietors £1,200,000 £1,700,000

Banking business transacted.

FOREIGN EXCHANGE and General

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

A. S. HEWETT,

Acting Manager

Hongkong, 14th April, 1913.

[1494

OKOHAMA

THE

SPECIE LIMITED.

BANK,

Authorised Capital

Paid-up Capitul... Reserve Fund

Yen 48,000,000 30,000,000 18,550,000

Calcutta

HELD OFFICE-YOKOHAMA Branches and Agencies at Antung-Hein Liao-Yang Ryojan

(Port Arthur) London San Francisco Los Angeles Shanghai Lyons Tichling

Feugtion (Makden) Nagasaki Tientsin

Bombay

Changchun

Daima (Dalay)

BRONCHITIS

Hankow

Harbin

WEAK LUNGS

Honolale

Koba

CATARRH

LODOWNS 98, 98, 99 and 99a, Praya and the preservation of the country, all exporting firm in the country; two. banks

least $5,000,000 for its administrative over possession of the defaulting bank; purposes. The expenditure for the whole Nai Chalong charged with embezzling

Wednesday. - Official Receiver takes HYPOPHOSPHITE OF LIME $60,000,000. year therefore amounts to upwards of Tes 1,380,000. Even if all the surplus of the provinces is paid to the Government, Thursday. The Exchange Banke point the latter is still unable to meet all the probable effect of the disaster on Bang expenses; but on the other hand, if the kok's import and export trade.

out to Minister of Local Government the provinces refuse to remit the revenue, the Friday. Government through Siam Government will be starved financially. Commercial Bank announces its intention For the sake of the maintenance of order of supporting financially the largest riva the Tutuhs and Civil Governors and the of the different provinces are ordered to Commerce meets, Chiefs of the Central Taxation Bureaux

lose their Compradores. remit all their surplus revenue to the Chalong

Saturday, International Chamber of Central Government regularly, and with Attorney-General conducts the prosecu Charges against Nai out delay. If the Civil Governors and tion.

investigated; the Chiefs of the Taxation Bureaux still

the

East

Apply to

HONGKONG, CANTON & MACAO STEAMBOAT Co., LTD.,

Hotel Mansions. Hongkong, 4th September, 1913. [1035

further

CONSUMPTION

Nowohwang Tokyo

New York

Osaka

Peking

INTEREST ALLOWED ON CURRENT ACCOUNTS

AND SHANGHAI

BANKING CORPORATION.

Paid-up Capital

Reserve Funds

$15,000,000

Sterling

Silver...

£1,500,000 at 2/- -$15,000,000

$17,450,000

Reserve Liability of Proprietors $15,000,000 $32,450,000

COURT OF DIRECTORS.

8. H. DODWELL, Esq.--Chairman Hon. Mr. D. LANDALE-Deputy Chairman. Q. Friesland, Esq. J. A. Plummer, Eeg. E. Goets, Esq.

O. 8. Gubbay, Eeg. G. R. Laurens, Esq. P. H. Holyoak, Esq.

W. L. Pattendea, Esq. H. A. Siets, Esq. Hon. Mr. E. Shellim.

CHIEF MANAORE! Hongkong-N. J. Brann,

MANAGER: Shanghai-A. O. STEPHEN,

LONDON BANKARE:

LONDON COUNTY AND WESTMINISTER BANK, LIMITED. HosoxONG-INTEREST ALLOWED.

On Current Account at the rate of Two per cent, per aanum on the Daily Balance. ON FIXED DEPOSITE.

For 9 months, 2 per cent. per Annum, For 6 months, 8 per cent, per Annua For 12 months, 4 per cent. per Anzum

N. J. STABB,

Chief Maneger.

Hongkong, 18th Qotober, 1913.

INTERNATIONAL BANKING

CORPORATION,

[18

HEAD OFFICE: 60, Wall Street, Now York, LONDON OFFICH: 38, Bishopsgate, EC.

BRANCHES:-

Bombay.

Calcutta.

Canton.

Cebu.

Colon. Empire.

Hongkong.

Bankow.

Kobe.

Manila. Mexico. Panama.

Peking,

Ban Francisco.

Shanghai.

Yokohama.

CAPITAL AND SURPLUS Gold $7,200,000

equal EVERY DESCRIPTION OF BANKING

• £1,480,000: DUSINESS transacted: CURRENT ACCOUNTS opened on the usual'

terms.

DEPOSITS RECEIVED, fred for one year

at 4 per cent. per annum or for shorter periods, at rates which may be ascertained on application. BILLS NEGOTIATED and COLLECTED. MAIL and TELEGRAPHIC

REMIT-

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

COMMERCIAL LETTERS OF CREDIT

issued.

PURCHASE and SALE of Stocks ands

Shares effooted.

Deposita received for fixed periods at rates TRAVELLERS' CHECKS sold and cashed.. to be obtained on application.

GEORGE HOGG,

EISHI ONO, Hongkong, 30th September, 1913.

Mausger

(464

Manager.

9, Queen's Road,

Hongkong, 21st October, 1913.

[1230