1914-04-09 — Page 5

caller Farmers &

The Wine Meks

the East

INAPIER

JOHNSTONE'S

“SQUARE BOTTLE'

BUG WHISKY, UNVARIED FOR OVER

150 YEARS.

THE SAME TO-DAY AS IN 1746.

BEWARE OF IMITATIONS.

SOLE AGENTS IN HONGKONG:

LANE CRAWFORD & CO.

and from ALL WINE MERCHANTÉ,

NEW CARTRIDGES.

[68

CHARTERED BANK OF INDIA,

AUSTRALIA, AND CHINA.

(Continued from Page 5.)

THE HONGKONG DAILY PREES THURSDAY, APRIL 9TH, 1914.

THE FAILURES DE INDIAN NATIVE BANKS. Apart from natural causes to which I have alluded, trade in India, especially in regard to woollen and piece goods, has somewhat suffered from the restriction of credit in the native bazaars consequent on the failure of several Swadeshi banks in Bombay and up country. The collapse of those institutions was entirely due to an absoluto disregard of the elementary principles of banking Where specyla tion is rife and credit is given, without limit, without restriction, and without regard to safety, there can be but one end, It is fortunate indeed that the offcet of these native failures was limited-I think extraordinarily 1mited-and as regards, the European banks their credit remains

WM. POWELL LTD.

TELEPHONE 346,

CHINA AND GLASS DEPT.

"SILICON" CHINA

DARK BLUE AND GOLD BORDER. COMPLETE RANGE OF EVERYTHING FOR THE

absolutely unimpaired; in fact, I should DINNER, TEA AND BREAKFAST

kay rather strengthened in comparison with what has happened in regard to thist native banks (Hear, hear.) Fina But in connection with these, failures somewhat serious, position arose in the silver market, in London. It was found on the closing of the doors of the Indian Specie Bank that that bank had an over. bought position is silver of some three, millions sterling. So we were faced with this position-that either we had to take prompt action in concert with those interested in the silver market or stand by and see an almost certain heavy drop in the price of silver, with serious, sud far-reaching effects. Many of our friends and constituents of this bank trading with the East and the Far East would. have met with undoubtedly serious losses through no fault of their own, but through this rask speculation on the part

TABLE.

ODD PIECES SOLD.

PLAIN WHITE DINNERWARE

AND

WHITE AND GOLD CHINA TEAWARE

IN ANY QUANTITY TO SUIT THE PURCHASER.

of the Specie Bank. Prompt action was INDO-CHINA BRICKS.

BY

Y popular English. Manufacturers. In necessary. A syndicate was formed, in

all Bores and Sizes

SMOKELESS POWDER and CHILLED SHOT. From No. 10 to 888G. at 86 87 and $7.50 per 100. SPORTING REQUIS ITER, and AIR GUNS in Variety.

Inspection Invited,

W. SCHMIDT & Co.

Hongkong 18th October, 1913.

1811:

GRACA & CO. PERNEE ST. (Hongkong Hotel Building). Dealers in STAGE STAMPS, PICTORIAL POST CARDS, SEEDS, BOOKE

TOYS, &o.

JUST RECEITED::

POSTAGE STAMP CATALOGUES FOR 1914. Hanghong, 20th March, 1914.

MARTIN'S APIOLASTEEL Fine PILLS

* Franth Ramady Eurail IreaguİNYSLÍAM.

af Lacion always kena s D

le in Khabres/50 12-18

Tim of any Irregularity of: sun brulent s

The Tho thelocat

[603

melyZoom THEY ẨN SALhem -

Bond Fais. 131 Chemists and

She World, uz poni trak_6,"

• HARTIN'S

PAPIOLOSTEEL

FOR

NERVOUS EXHAUSTION

LOSS

of

MEMORY

anu

DEBILITY

and

free the NEAVES

CHAPOTEAUT'S

PHOSPHO-CLYCERATE OF LINK

It increases vital energy and nerve. force, curas Henrysthenia, Oyapapain Mamata, and mercoup distuses in adults and children.

CAPSULES, IN WIRE, AND SE SYGUT,

THE NEW FRENCH REMBOV. No! N₫2 16:5

leading

THERAPIONELE CULLE

ENVELOPE FOR FREE

· BLADDER, URINÁRY. DISEASER. CLERO

MED.CO.JAVERSTOCK RD, HAMPSTEAD ENG PARIS DEFOT: IL RUS CASTIGLIONE, FA QUIE

-90, BELLMAN st? (FOR 7661

THE FASTER #69) FORM OF FL TO TAKE. THERAPION

13-41

BATE AND 175

LASTITO CUTİ,

THAT TRADE MATKED WORD "THEZAPIOX' 25 DI

SRIF-GOVE, STAMPANFLEED TOALLGESVINE.PNGRESS

新外中 港香

DAILY

is the oldest and still immeasurably the best

Advertising medium among the Vation Community,

which we took a lending part, and the whole of the silver of the value of about three millions sterling-was taken over nu fixed price. Safety was assured, confidence was restored in the silver market, and the price of silver was main tained at a fair level, (Hear, hear.) The whole transaction has been carefully and skilfully managed, and our thanks are due to the small committee which has had the management of the matter, and which has worked it most successfully, with this effect--that almost the whole lot of silver has been sold, and no loss whatever is anticipated (Hear, hear.)A

THE INDIAN CURRENCY COMMISSION. The final report of the Indian Currency Commission will have been received with

interesting subjects, and show that the

[697

TILES PIPES

COMPANY. LIMITED.

BEST FIRE BRICKS AND FIRE CLAY PATENTED ROOFING TILES.

Guaranteed against Typhoon and Lankage.

MORE THAN TEN MILLIONS IN USE IN THE FAR EAST. SAMPLES AND FULL PARTICULARS FROM

much

P. SOFFIETTI & Co., 14, Des Vœux ROAD, TEL. 289. ALWAYS IN STOCK.

(Cheers.)

resolution, in seconding that

11010-2

PRICES

FROM

$35

TO

$225.

VICTOR-VICTROLA

PRICES

FROM

TO

$225.

EXCLUSIVE DISTRIBUTERS:

MOUTRIE'S

WESTMINSTER TOBACCO CO.,

LTD., LONDON.

GOLF

FREE.

(51-6

BALLS

On and after April 1st, Golf Balls will be erchanged only for empty tins and not,

as previously, for ash trays or souls.

HOW TO OBTAIN A BALL.

In return for 5 amply Westminster tins of either Turkish “Specials" 50's, Aide-de-Camp 50%, we will give, FOR A LIMITED TIME ONLY,

ONE GOLF BALL.

Which is Guaranteed by the Manufacturers to be of the Highest Quality.

If prefurred a NEAT LEATHER WALLET, containing a Golf Scorer and alc refills, will be given in exchange for the same number of Empty Tins.. OF WESTMINSTER “

J

PRICES

TURKISH...

$1.25 PER 50'S TIN. SPECIALS AIDE-DE-CAMP" VIRGINIA 70 OTS. PER 50′s TIN.

Please return Empty Tine to

WESTMINSTER TOBACCO COMPANY, LIMITED, 18, BANK BUILDINGS, HONGKONG.

great interest and appreciation. I think in every possible way, so as not only to of the Royal Commission. As you know, we should congratulate the chairman and improve its already good credit in the, I was a witness befors that Commission, members of tast Commission on the financial world, but to improve the pro- and, therefore, perhaps I may be jeeds termination of their labours and le not think privileged to say that, with the exception on the very prompt and businesslike I need say anything further, and I will of the too cautious refusal to give us any manner in which they have issued their therefore propose That the rapors now guidance whatever, as to the ultimate size final report (Hear, hear.) I am quite presented; together with the balance sheet of the gold standard reserve, the recom- sure that the report of the Commission and profit

able and very elaborate, and to mest every will result in good. It will clear away and adopted loss account, be approved mendations appear to me to be very admir many misunderstandings and many mis 812 ALFRED DEST, K.C.M.G. I have probable contingency We know from pleasure thaidence of Sir James Meston, who apprehensions, throw light on maay

that in the crisis of 1907 no one seemed repented the Govorament or to finances of the Indian Government have The motion was carried unanimously.

The CHAIRMAN-I bave now, to propose exactly to know what to do neither the not been mismanaged in the way they That dividend at the rate of 14 per Government of India, nor its commercial were believed to have been mismanaged. (Hear, herr.) With most of the conclucent per annum for the half-year ended advisers, nor the exchange banks, nor the sions and recommendations I think we December 31st last, together with a bonus Secretary of State--and for a few days shall all agree, especially in regard to of 128, per share, both free of income-tax there was undoubtedly confusion, Now fusion again, I think, with those very the keeping of a moiety of the gold be now declared, payable on and after there will never be excuse for that con-

the 25th inst."

Hongkong, 27th March, 1914. standard reserve in actual gold, in the The RIGHT HON LORD GEORGE HAMIL elaborate and interesting recommenda- granting of sterling drafts in India by TON, G.C.8.1., seconded the motion, which tions before us, which are a text book for With regard to the future guidance the Indian Government on London when was unanimously agreed to.

The CHAIRMAN have next to propose three recommendations you mentioned, to all of us to put our shoulders to the occasion requires, and also in the more liberal granting of loans to the Presidency That the Right Hon. Lord George there is one in particular which I think wheel and endeavour to keep up the ligh hanks from the Treasury balances--the Hamilton, G.U.S.I., who now retires by should appeal directly to the shareholders standard to which we have arrived. I

and depositors of this bank it is that

may say that the thanks of the shareholders Korpius funds which would otherwise be rotation, be re-elected a director.

This was seconded by Mr. THOMAS in which the Government is recommended are fully earned by the managers and etc., Mr. and Mrs. JP. Welling, Mr. W lying idle in the reservs Treasuries... I think that will have a very great effect CUTHBERTSON, and carried unanimously definitely to undertake to grant sterling staff both at home and abroad. My con- A. Dowley, Mr. and Mrs. E. Jenkins, The CHAINMANI have also to propose remittances on London at gold export tinued experience is that they all work Mr. E. Leduc, Mr. K. O. Nazaki, Mr. Now it is not only with their heads but with their fatishi, Mr. H. E. Swafield. Mr. and and will be very much appreciated by the mercantile community of India. (Hear," That Mr. William Foot Mitchell, who whenever required to do so.

Mr. J. H. Crocker, Mr. W. A. Sunder As regards the very hear)

vexed now retires

heimer, Mr. J. L. Van Laer, Mr, and Mrs. H. W. Petley, Mr. and Mrs. W. K. Sinks, Mr. P. B. K. Naidu, Mr. J. Gravely, Mr. D. A Pattullo, Mr. and Mrs. H. A Blankenberg, Mr. V.

Mr J. Quin and Lieut. and Mrs. Mr. A. Wiessing, Mr. A. Bunting, Buerklė.

[308

PASSENGERS.

ARRIVED.

Per Envirens of dst, from Vancouver,

question of a State Bank for India, directos by rotation, be re-elected quite trus, as our manager Mr. Fraser, hearts, and they look upon the bank as Mrs. Weiss, Mr. and Mrs. J. R. Greaves,' desire to associate myself with and to Mitch might reention that Ar said in his interesting evidence before the if it belonged to them. Iear, hear.)

With a view to providing improved and to attend today conded the motio, a much more comfortable feeling, both Singapore on the 7th April, and may be Oettinger, Mr. 6. Wheeler, Mr. O. Strufe,

Seeing

DEPARTED.

up the new premises with the old, and it that we have done so well with one audit directors will have a weight taken off and may be expected to arrive here on or Per Monteagle, for Vancouver; etc.,

Mr. Widmann, Mr. Ruckenbrod, Miss

The proceedings then terminated. is unavoidably absent to-day, su Commission, that the Government of

LATEST STEAMER MOVEMENTS. support the views so well expressed by he had to go abroad, and also that our India cannot let exchange fall without Mr. Robert Campbell, the able chairman old and valued director, Sir Henry ruining the country and everyone in it; of the National Bank of India, at their Cunninghao, is laid up by illness, and and therefore we knew that in the last very much regrets that he is not allowed resort the Government must always come

to the rescue; but I think it gives us all The str Turilli, from Calcutta, left meeting yesterday.

Mr.LA WALLACE

shareholders and sterling depositors, expected here on or about the 13th April, which was unanimously agreed to.

Mr. H. M. Ross-The next resolution when we know that it is not what the a.m..

The E. & A str. Empire left Sydney for which has been placed in my hands is Government may be forced to do but what

That Mr. Magnus Mowat and Mr the Government has voluntarily under this port (vis Queensland ports, Port William Adolphus Browne be re-elected taken to do. You, Sir, and your fellow Darwin and Manila) on the 7th April, auditors for the ensuing, year.

about the 2nd May.

The C.P.R. etr. Empress of India lele A. B. Greig, Miss L. S. Greig, Mr. S. is dus to arrive at Kobe on the 8th April, Nagasaki on the 7th April, at 2 p.m., and The IG.M. str. Prinz Eitel Friedrich,

The LG.M. str. Princess Alice, which which left here on the 31st March, arrived at Singapore on the 6th April, at 11 am

Shanghai on the 6th April, at 2 p.m.

Always merry and bright, eh? Yes, if in hot

Rt 6 p.m.

increased accommodation for our staff at the head office, your directors have taken a very favourable opportunity of acquit ing the premises, No. 2, Great St. Helen's, immediately adjacent to this building At a very small cost we are able to link

your minds when you are employing our will give us very much needed ground I am not quite sure that the terms of vast resources in India knowing that if space. At the present time we shall only this resolution are such as might con- this recommendation is adopted by the requirs to use the ground floor, and we mend themselves to us but for the fact that Government, as I trust it will be, you will have already let the upper floers to Mr. Browne is unfortunately ill. We have behind you a guarantee that the excellent terants. At Singapore we have recognize in proposing this resolution large sterling resources at your disposal also found it necessary to acquire a site last year I recognized his valuable will be safe returned in case of need and build premises, and your directors services. We all deeply appreciate them, to the depositors and shareholders of this have also see ded to open a branch in and therefore, Sir although the resolution company. In making that recommenda Peking For that purpose, as we were conflicts with the position of affairs, in tion not only have the Royal Commission unable to hire any suitable office there proposing two auditors let us hope that

but they have rendered in particular a acquired a small site in the Legation area results this year than they have done in service to all interested in exenange and we are procceing to build offices the past year. It is usually your custom banks. (Hear; hear.) there suitable to our requirements. Of to invite, remarks from the shareholder Mr. H. B. HENLEY seconded the resolu course, all these extensions of the build I know that I bave inflicted myself on tion, which was carried unanimously. ings are absolutely necessary to keep pacz these meetings year after year I hope with the extension of our business abroad; they are necessities in all cases, but we reck which called me to my feel is now holders have every reason to be very Juice. It cools and purifies the blood, refresh-C. A. Henderson, Capt. C. T Malan,

1 trust, happily terminated. But before satisfied with the excellent report which do not bu'ld without very careful con referring to that I should like to ask you you have placed before us, and our verying the entire systemi

Hooker, Mr. T. L. Relton, Mr. Yoko Shaw, Mr. J. McCounack, Capt. G. Barker, Miss G. M. Ogsburg, Mr. J

yama, Mr. Kabil M. Hashim, Mr. J.

Chas. Pryce, Mr. Geo. Ball, Mr. W Macdonald, Rey, T. H. Caren, Mr. J. E. Gibson. Mr. Frank Dennis, Mr. and Mrs.

Olsen, Lady Mabel Egerton and maid, Miss Egerton, Mrs F. Rorschach, Mrs. Wilson and child, Mr. Wilson Brown, Mr. Samuel Gray, Mr. W. M. Johnston, Lient CC. Chambers, My and Mrs. W

at a very prohibitive figure, we have those two auditors will give us better rendered an important service to India, left here on the 3rd April, arrived at Downes, Mr. II. O. Lange, Mr. V. Harth

sideration.

THE

APPROPRIATION, OF THE EARNINGS..

the report and balance sheet. I am sure

Mr.

I shall not do so again, because the sub

Mr. CARL E. MELCHERS-Mr. Chairman weather you drink "MONTSERRAT" Lime and Gentlemen,I think all the share-

PASSED THE CANAL

March 6th

Bir, whether the interesting figures you host thanks are due to our chairman, the gave concerning the imports and exports directors, the mariagera, and the staff for Now, I have only to refer genergily to of India included, or did not include, the great skill and ability with which

treasure.DAT

The CHAIRMAN Merchandise only. they have steered our W-year-old ship, the chairman, the directors, the man you will all agree that it reflects the Mr. Ross-Thank you. I think we often through stormy weather, I beg to

should be a very ill-conditioned body of propose that our very best thanks be given Guernsey,

to

MF RAOUL DE MANINI have very

seconding shareholders if we were not more than agers and the staff. (Cheers.) satisfied with the splendid results of the past year. (Hear, hear) When I first great pleasure bought my shares in this bank in 1903 resolution. the year in which, if I recollect rightly, you joined the board of directors the

greatest credit on our managers,

Mr. Fraser, Whitehead,

and Mr Freston.** (Hear, hear.) I name them especially, but it reflects credit on all the staff. To those gentle men, however, we attribute a great deal of our success, and I cannot tell you how

The motion was carried unanimously. The CHAIRMAN 1 must first of all AUNG NGÓI SAN PC greatly 1 personally appreciate their net profits were £170,000; they are this apologise to Mr. Ross for not calling upon work I think it is only right to give wear 1:350,000. Therefore they have more the shareholders to make remarks, they (Chinese Daily Press,

them sword of praise apart from the than doubled in the 10 years. Now he wished to do so, before I put the first PUBLISHED

shareholders. (Hear, hear.) It is satis factory that, although last year we had would be a rash prapher who would ray resolution. I quite overlooked it. I am that we shall double them again in there we are all indebted to Mr. Ross for a record in our earnings, we have beaten course of the next 10 years, but knowing his very interesting remarks on the Our that by over £20,000 this year. We have made ample provision for all bad and as we do that banking in India and is rency Commission report. The directors, and Mr. de Manin most heartily for their doubtful debts, we have written of the East generally is in its infancy, we the managers, myself, and the staff depreciation on securities, and we have can look forward, I am sure, with the

progress in the next 10 years. very kind and encouraging words to-day, available. In dealing with that balance You alluded, Bir to the question which it is always a pleasure to know that the the directors simply carried out their bas brought me to my feet year after lab.urs meet with appreciation on the policy, so often expressed, of building up year, and that is the question of the part of the shareholders. and I am sure the reserve and strengthening the bank Indian currency and the recommendations they do so to-day. It will be an incentive

Established for over FIFTY YEARS

Cironistes largely throughout Southern Chins

Sample Indo-China et

[381 6

Benclench, Brodvale, March 10th-Den of Crombie. March 13th Japan Monmouthshirt, Egremont Castle, Ursula Rickmers-

March 17th-razilia, Indrani, Nippon, Vyunaa, Paul Lecal

March 20th Agamemnon, Colchas, Erroll, Sunda, Delta

March 24th-Himalinya, Aitmark, Nor. derney, Benmohr

March 27th Achillas, Bendoran, Bülow, Cordillere, Iyo Maru, Patricia.

March 31st Aisu Maru, Ellen Rick mere, Glenlachy, Lenner,

Pyrrhus, Glenfarg, Novara,

April 7th Aja, Kasama, Lutzou, Suruga, Atreus, 0. J. D. Ahlers

Survia, Furat Bulou, Ķina.

Terms for Advertising (Translation free; ds been able to show a very good net balanes utmost confidence to very great and generally desire to thank Mr. Melchers April 3rd - Lycaon,Nera,

be obtained at the Office, 10a, Der Vor Road

Central, Hong kong, 151, Fleet Street, London

or

from the different Agents.

Doemen in trapulated from or into Ossies

or Colloquial Ghizers

profitable

ARRIVALS AT HOME April 7th-12 Maru, Neru,

Nippon,

More

G. Thacker, Dr. James Macdonald, Mr. Mr Henry Malan, Mr. and Mrs. Lusty, Mr and Mrs D. Armstrong, Mr. and Mr. W. A Gill, Mrs. Sander, Mr. R. CWhitener, Mr. F. M. Berry, Mrs. Ingersoll and infant, Mrs. Morrio, Mr. B. W. Clarke, Mr. C. B. Aimlie, Mrs. Knoderer, Mr. F. Abas, Mr. T. Juan, Miss K Ericsson and Mr Richard Mother,

E Fuller, Mr. W. A. Stephens, Mise L.

UN

SALE

■ KASIN OF THE

of or preceding the departure of the LATER OF EXCHANGE AT BOMBAY

English Mails; also Table of the For Demand Drafts on London on the day

Yearly Approximate Averages.

for 8 years,

FROM 1874 TO 1907.

PRICE 6 CABEZ

On Sale at the DAILY Fatas tar