1915-05-11 — Page 2

TIMATIONS

EVER READY ENTERTAINMENT

THE VICTOR-VICTROLA

RECITALS GIVEN DAILY.

EXCLUSIVE AGENTS:

MOUTRIE'S.

ASAHI BEER.

THE DAI NIPPON BREWERY

CASAH

BEER

LAGER BEER

PANY

& CO. TOKIO

JAPAN.

OBTAINABLE EVERYWHERE.

SOLF AGENTS:

MITSU BUSSAN KAISHA.

HONGKONG.

(381

FRENCH LESSONS

G. MOUSSION,

-MORRISON HILL ROAD..

NEW CARTRIDGES.

Y popular English

Bin Bores and Sizes,

[544

· Manufacturera

SMOKELESS POWDER and CHILLED BAOT. From No. 10 to 888G. nỀ 86, #7 and $7.50 per 100. 8PORTING REQUISITES and AIR GUNS in Variety.

-Inspection Invited

DRINK

[31-3

ALLSOPP'S.

BRITISH PILSENER

BEER.

THE HONGKONG DAILY PRESS, TUHSDAY, MAY 11TH, 1915.

COMPANY MEETING.

CANTON INSURANCE OFFICE, LIMITED.

NO MORE POLICIES FOR ENEMY SUBJECTS.

CONDITION OF LOCAD CURRENCY,"

been recovered before this time next year,

IN 1914.

I do not think I can add much more of interest to the particulars given in " the printed report. All our investments as therein stated have been written down to official rates ruling on 31st December, 1914, where official rates were obtainable. So low wore the prices of first-class The thirty-fourth ordinary meeting of securities on 31st December, 1970, that the Settlements contains as a supplement the

loss in sterling has been comparatively report of the Colonial Secretary, the ally and with the increase in confidence shareholders was held at the offices of the unimportant, sad the lower dollar has Hon, R. J. Wilkinson, C.M.G., on the brought about a roturn to normal business Company, yesterday, the Hon. Mr. David more than counteracted this in an expres- Landale (Chairman) presiding. There sion of values in Hongkong ourrency. Colony of the Straits Settlements for the conditions at a comparatively early date.

At the close of the year the notes-in- The abnormal rate of cxchange ruling year 1914. Mr. Wilkinson writes: were also prescat:-The Hon. Sir O. P. between here and Shanghai has caused

circulation amounted to $48,487,048 and The war affected the prosperity of the the coin reserve to $28,022,902.71. Chater, C.M.G., the Hon. Mr. E. Shellim, us a book loss on our investments thero Colday less than might have been ex- Besides the help given to the Federated Messrs. D. W. Craddock, E. I Chapman, of some 242,004, which I trust will have pected-The-revenue for 1914 (814,016,889) Malay State Government for the pur- H. P. White, and C. 8. Gubbay (Consult though. I out quito unable to say whether was the highest ever recorded, exceeding chase of tin and for advances on rubber ing Committee), the Hon. Mr. E. A the extraordinary condition of our local $1,104,305. Although this rise was due assist the planting industry in Malacca, the next highest-that of 1912-by the Colonial Government lent $50,000 to Hewett, C.M.G., the Hon. Mr. H. E. currency, which partly, anderstand, mainly to greater profits on opiumit 8300,000 to the Chinese Commercial Bank,

renders such a rate possible, will have Pollock, K.C., Messrs. II. V. Stevenso, assumed ordinary conditions.

was accompanied by a decreased consump and 8400,000 to another bank.

Moreover, in spite all loans to planters are still outstand A. J. P.--Pumfrett, F.Smyth GK Since we last met Mr. C. S. Gabbay tion of the drug. Haxton, J. M. Alves, A. F. Arculli, Hoof Messrs. E. D. Sassoon & Co., has of the prohibition of Chinese and Tamil ing but for this exception the sutstand

the beginning of as above mentioned in the crisis have bes accepted the invitation of the Consulting immigration after Fook, Lo, Cheung Shui, and L. N. Locfe Committee to join their number, and you August the total volume of local produce repaid in full. (Secretary).

will shortly have an opportunity, of shipped from our ports remained about which I am sure you will avail ourselves, the same. Rubber, tin, capra and gambier of confirming that appointinent. With all showed increases in export. these remarks I have pleasure perin proposing the adoption of the report and accounts. After that motion awer to the best of my ability any has been seconded I shall be glad to questions which shareholders may have to ask.

THE STRAITS SETTLEMENTS banke. Certain banks also increased the currency in circalation by giving gold- for notes. The following figures give the net result of theso transactions: PROBLEMS RAISED BY THE WAR.

Notes in Coin Circulation reserve. July The Government Garette of the Straits August 31, 1013... 48,176,148 £6,711,402.71

31, 1914.843,834,518 $24,524,802.71 - This increase of the currency relieved the tension of the money market materi-

The Secretary having read the notice convening the inccting,

The CHAIRMAN said:-With your mission I will take the report and accounts as rend, since they have been published and in your hands for some days past. They form a record of success ful work, accomplished during a portion of the period in very abnormal cirou stances, and excite, I hope; approval.

your

If the two working accounts are ken together it will be found that we have distributed a sum of money which is "little short of three million dollars in the payment. of claims, and in spite of this we are able to present a surplus of $459,129.89 on the closed year's working, pay an increased dividend of one dollar per share, and carry forward, in respect of the year 1914, some two millions dollars.

A POSITION OF OREAT SECURITE,

.

SPEECH BY THE HON, MR. BRWETT. ́*

WAR EFFECTS ON BUSINESS.

A fow

It may now be mentioned that the supply of unissued currency notes of

small denominations in the bands of tho Commissioners was too limited for war

This

THE HONGKONG VOLUNTEERS.

ORDERS BY LIEUT-DOL, A. CHAPMAN, V.D.

JOINED

1.Private F Pereira joined the Corps on 10th May, 1816, dilotted Corps No. 1819 and posted to Signalling Section.

TRANSFERS.

In July the fear of war in Europe purposes when war broke out. The stock began to disturb local business conditions, was barely sufficiens to meet the more Cook of the Straits Trading Company good) intensified the strain of the situa at the close of the month Mr. WW pressing demands for currency.

deliciency (which has since been made informed me that owing to the state of tion for those who had to deal with it. the market it was doubtful whether his An ampler supply of notes would have company, with its limited working much pleasure in seconding the motion the mining industry indefinitely should financial position.

Hon. Mr. HEWETT said;-I have very capital, would be in a position to Ananes given a proper margin of safety and would baro allayed all anxioty as to the for the adoption of the report and the metal cease to find a ready salo accounts before this meeting, the more to This warning was of supreme importance as it gives me an opportunity of congra- because of the large numbers of coolies tuinting the General Managers, the Con- (some 250,000) dependent on the tin in- sulting Committee, Secretary, and staff dustry for their fivelihood. The Feder- generally on the extremely satisfactory ated Malay States Government, though results of the work during the last two primarily interested, was not in a posi- years. It is more than ever gratifying tion to help the industry financially and when you remember the abnormal condit became necessary for the Colonial tions and the serious risks that have to Government to face the possibility of bo undertaken by such a Company as having to take the place of the Straits this, and the extra necessity there is for Trading and Eastern Smelting Com- making larger provision for possible loss. panics as the buyer of Federated Malay rendered this year will be much appre The manner in which the accounts are States tin.

Of course there were alternative, pro- clated by the shareholders, who 1 suposals. One suggested in the Press and sure, will most cordially endorse the elsewhere was the provision by the sound policy of making ample provision Public Works Department of relief works for any possible losses which might be for the unemployed mining coolies. This fed at the policy-cruel and murderous but not the industry; and steful and incurred. The whole world must be hor-proposal would have helped the coolics which has been adopted recently by a measure of relief it was wasteful and people who claim to be one of the most unsatisfactory in that a miner is more cultured nations in the world, in carrying likely to be efficient and contented at his on war against defenceless women and own work than at a task to which he is children-nothing short of cold-blooded unaccustomed. It was also too costly: and deliberato murder. It has indelibly money spent on relief works would not stained the name of what was hitherto renew itself while money spent on the an honourable nation. With regard to purchase of tin would be replaced from your remarks as to trading with the time to time by the sale of the metal. enemy, the policy adopted by our Com Another proposal pat forward at pany is, of course, perfectly correct, and a later date by the Selangor Chamber I would like to see it followed by all of Commerce-suggested the grant of This alternativo British firms throughout the world as well advances to miners.

As foreshadowed by last year's report, the year 1913 has proved a good year after bringing the sum standing at credit of underwriting suspense account to the satisfactory total of 8404.924-48 to provide for payments yet to be made, and paying a final dividend of $4 per share entirely out of the interest earned by our accumulated foods, we are able to make an addition to the reserve fund which will raise it to a sam slightly in excess, at the rate of exchange on the 31st Decem-

as in this port throughout the war. As would not have assisted the wealthier ber, of the uncalled capital of the Com-I have stated elsewhere, it is very undesty-mine-owners, but it would not have pany, and this circumstance, taken to able that the slightest assistance should enabled the poorer workers to sell their conjunction with a review of the various be given by any British subjects to those tin outright except to speculators who people who are capable of carrying on could have exploited them ruthlessly at a other funds of the Office prepared to meet warfare with such terrible barbarity as time when money was tight, MACGREGOR&Co. various contingencies, creates, I think, a position of great sccarity for our policy-

SOLE AGENTS: '

CALDBECK,

WINE & SPIRIT MERCHANTS,

15, QUEEN'S ROAD. CENTRAL. -

THE IDEAL DISTEMPER

(15

"SYNOLEO

(Registered).

THE question of wall decoration is one which should secure first consideration

in the docoration of the Home.

looked for in modern House decoration.

"SYNOLEO" only requires the addition of cold water to make it ready

for immediate use.

holders.

ACCOUNTS IN TWO CURENCIES,

You will notice that we have this year presented our position in two currencie, sterling and Hongkong dollars, side by side.

A vast majority of the trade of the world is, of course, conducted in car- repcies of a gold standard; China in fact is the only country of prominence which is an exception to the otherwise established rule. Our operations must obviously be carried out largely in the proportion of gold predominating over silver, and we now have, as appears in the balance-sheet, a large and increasing part of our resets invested in sterling or other gold securities. This being the case) it was thought that a statement of our position in a currency to which they were accustomed would be welcomed by these many supporters of the Office residing inf gold using countries, and a recognition of that desire has led to the change.

our enemies. With these remarks, I beg HOW THE CRISIS WAS MET

to second the motion.

There were no questions, and the resolu tion was unanimously adopted. A DAR

On the motion of the Hon. Mr. POLLOCK, seconded by Mr. STEAVENSON, the Hon. Sir Paul Chater, the Hon. Mr. E. Shellin, Messrs. D. W. Craddock, E. J. Chapman, H. P. White, and C. 8. Gubbay were re-elected members of the Consulting Committee.

In any case it became clear that an industrial crisis accompanied by mich

imminent; and on. employment was August 3 the introduction of deck pas- sengere from Southern China and the Coromandel Coast was prohibited by an order under the Quarantine Enactment. To relieve the labour market still further free-passage to their own homes wore Messrs. H. Percy Smith and A. R. Lowe ofered to all destitute and unemployed were re-elected auditers, on the propostolics who wished to be repatriated. tion of Mr, HAXTON, Seonded by Mr. ALVES.

Early in August Mr. Cook, with Mr. Natty M.F.C., called at Government The COAIRMAN That is all the business, House and reported that the Straits gentlemen. I thank you for your attend Trading Company was no longer pre ance. Dividend warrants will be readypared to buy tin on its own neepunt. to-morrow and may be obtained on They were authorised at once to purchase application.

it on Government account.

KAISER'S HOMAGE TO BISMARCK.

UNITY AFTER THE WAR..

I wish to take this opportunity of ex- pressing my paxonal indebtedness to Mr. W.W. Cook, whose advies and assistance _were_invaluable to me at a

a very critical

time.

On August 5 a conference was held with the acting Chief Secretary, the After the public ceremony in Berlin inacting Resident of Selangor, and the commemoration of the Bismarck centen noficial-members of the Federal Council ary, there was an exchange of telegrams at Kuala Lumpur. The arrangement between the Imperial Chancellor and the as to the purchase of tin was approved, Emperor Williain. Herr von Bethmann- and assistance was also promised to the The working account for the year 1911 Hollweg reported that the elbrations rubber industry. While the conference prodits two especially prominent fra had been a great success, that the Em-was sitting, news was received of the fures, both satisfactury. increase in the premium income of about welcome from the public when he laid the

One is Alperor's grandson had reeived a hearty declaration of war against Germany,

some

INCREASED INCOMES.

The effect of the outbreak of hostilities

"SYNOLEO" is the Distemper supplied in a beautiful range of artistic tipts, suitable for inside or outside use, which produces that soft velvet finish so the income from interest to some $249,000. monument, and that the whole festival and uneasiness that had previously pre a million dollars sad the other a rise in Emperor's wreath upon the Bismarck was discounted by the state of uncertainty The former, of course, is influenced by was worthy of the seriousness of the times vailed-a condition as harmful to trade exceptional circumstances, and the pre- miums earned for undertaking war risks and showed that the German people is as war itself could have been. Business is clearly largely responsible for it. I firmly determined to defend to the last remained bad, but it was no worse than before. The general public concerned quarters

been breath the heritage of its Hero-Exuperor itself for the moment with minor issues it may have thought that we could have been more and its Iron Chancellor." generous in our dividend, but I would The Emperor sent the following such as the suficiency of our food supplies and the attempts of small tradesmen to remind you that though, as the figures reply:-- ravel, our share in the haardous opera Your-report of the edifying course of to allay axiety and make it clear that free up prices. A few days were enough tions of war risk insurance have be the Bismarck celebration to-day has siege conditions were not going to attended with success, the war is not give me the highest pleasure. Gladly prevail in Singapore. yet over, and it is a wise policy would I have faken part myself in the to conzerve our powers during abnor- homage to the great Chancellor on his mal times, the outcome of which 100th birthday, and on the steps The economic position was more in- cannot be foreseen. If we find that of his moninient, anong

ro tricate. The following figures will make when happier conditions prevail, we prostutatives of the German Empire it plain that there was no actual lack of can treat a large sum of what is and people, have placed a sign of grate currency at this time:- now but a liquid credit balance as fal vaseration of the man who is

Currency: Notes in Coin earned profit, shareholders will find little especially dear to us all as an embodi-.

Circulation.

Send for tint book and fullest information to the Manufacturers.-

WM. SCHMIDT & 00. WILKINSON,

Hongkong, 4th Februey, 1915, 1509

A LING & CO..

19, QUEEN'S ROAD CAFEAL.

FURNITURE AND PHOTO GOODS

¿TORE

Photographic Goods of Every Description

in Stack

Developing, Printing and¡Enlarging. Canton Marbles in Various Alades.

TELEPEONM 1219.

Hongkong. 4th Februwy, 1916.

ON SALE

HEYWOOD &

CLARK, LD.

(HONGKONG BRANCH),

ALEXANDRA BUILDING.

-

Telephone: 763.

Hongkong, 17th November, 1914. [106-3

[516

TORBIGN

ot

the

the

FOR SALE..

All kinds of

POSTAGE ALBUMS, and other PHILATELIO - GOODS,

STAMPS

at Prices to suit any Bayern.

35.

CAINE HOLD, NO, HA,

Hongkong, 1st April, 1915.

HONGKONG BANSAED REPORTE

the MEETINGS LEGISLATIVE COUNCIL for Bastion 1914,

REFINED BY Tas MaxEERS.

PRICE

DAILY PRIs Örvin Hongkong, 26th February, 1918

P

GRACA & CO..

[465

the

THE ECONOMIU POSITION.

reserve.

to complain of, and in the meantime there ment of Gerraan strength and German Dec 31, 191343,222,648 823,012.802.71 need be no anxiety as to the Company's will in the pres at grava time. But my July 31, 1014.43,834,548 24,524,802.71 powers to maintain the dividend of $2 business, and that of the German people But this currency was not circulating per share which we have been glad to find it possible to recommend for the first time.earing arms, is still to hold out in the freely. The bazaar hoarded cash, field in the bot battle, in order to pro realising whatever it could end paying GERMANY'S CRIMES AND THE COMPANY'S

test and strengthen the might of the out as little as possible, There was a Empire towards the outer world. That disastrous run on the Chinese Commercial we shall scored in this is assured to as Bank; and other banks were forced to by God's mercy, by the unanimous will

pursue a cautious policy, making few

j

ACTION.

2. No. 1820 Pto. A. F. McIntosh from

·H.K.V.R, to Engineer Co., dated 10th May, 1915.

"No, 1831 Pte. P. W. Ramsay from H.K.V.R. to Engincor Co., dated 10th May, 1915,

No. 1822 Pte. C. H. Murphy from H.K.VR to Engineor Co.; dated 10th May, 1915.

ATTACHMENT

3.-R.E. the Governor has been plused to approve of Lieut. A E, Preston, 4th Battalion Cheshire Regiment, being attached to the. K.K.V.C. (Scouts Company), dated 3rd May, 1915.

PARADES.

Cu.

Parades for to-day (Tuesday). ' 5.10 p.m. Centre Section M.G.

Compony dril at Kowloon Docks, Launch leaves Statue Pier at 1.30

p.10.

5.30 p.m. No. 1 Section Artillery But

tory. Left Section M.G. Co. and Civil Service Co. Aiming Drill out- Musketry Exercises et Headquartous 5.30 p.m. No. 2 Section Artillery Bat- tery, Samphoto Signalling at Head- quarters.

5.30 p.m. Right Section M.G. Co.: Trained mon, Lecture. Recruits, Squad Drill at Headquarters, 5.30 p.m. Scouts Company: Rifle Exer- .

cises and Bayonet Fighting at Hearl- quarters,

DETAIL.

3-On daty: HK.V.R.

G. E. STEWARr, Copt, Adjutant, H.K.V.C.

THE VOLUNTEER RESERVES.

GARBA BY MAJOR WÄKEMAN, 0.0., H.K.V.A.

PanAug-Sections 3 and 4 of A Company

Honakoge, 10th May, 1915.-

and the whole of Company will parade outside the Courts of Justice at 5.16 p.m. on Tuesday, May 11th. Dress, Drill order....

The whole of A Company and Sections. 1, 3, and 4 of 0 Company will parade outside the Courts of Justice at 15 p.m. on Thursday, May 13th (not Friday) Dress, drill order.

D. Company will parada under Bérgt-

Major Cooke at Volunteer Headquar bors at 5.15 on Wednesday, May 12th. Dress, drill order

Recruits will parade under Sorgt.-Major Bond on the Cricket Ground at-515 pm on May 12th, 18th, and · 17th Dress, drill order.

Signallers will parade ut. 5.10 p.m. to- day in Murray Battery and at 0.16 p. Thursday, May 13th, on the Cricket Ground Uniform optional.

Sergt. W. Budge is transferred to D Company, ta

TRANSFER

W. L. CARTER, Capt..

Adjutant, H.K.V.R.

SPECIAL POLICE RESERVE.

PARADES.

(Central Police Station). Today, May 11th-Portuguese Company

5.30 p.m., with riles.

Wednesday, May 12th-Picked men from each Company with Rifles, 580 p.m. AuMLETS,Sergeants and Constables tem- porarily in charge of Platoons are responsible for seeing that their men have their armlets constantly with than. The wearing of armlets in public with out the orders of the Hon. C. S. P. strictly forbidden.

EMERGENCY CALL Those in charge of

Platooris must also advise their men of the method of calling out by Night and by Day

TC. JENKIN,

A. 8. P. (Reserve),

GERMANISING BELGIUM.

IMPRISONMENT FOR SINGING “THE MARSEILLAISE. ".

But the sinking of the Falube and now of the Lusitania without warning afford instances of the methods our enemy is led for victory that inspires us all, and by advances and keeping a strict watch on to resort to. These are crimes that will the pledge taken and proved by action their cash reserves. for ever disgrace Germany as a nation Every sacrifies for the Fath rland."

For the first day or two Government. and bring into contempt all German sub- jects who me kly submit to be ruted by our people victoriously, at home and on

But the spirit of unity which has raised had been purchasing tin by means of It was, cheques on its bank balances. men who, when brought to bay, fall back the battlefeld, above all that divides as, however, realised that purchases averag- upen the slaughter of unarmed and. defenceless persons. I hope the time is will, as confidently hope, survive the ing $100,000 a day could not be continued shortly coming when British commercial clash of arms, and, after peace has been indefinitely without disturbing banking The Blais, correspondent of the Tele-

stall conditions and making money enterprises of till descriptions will join happily won, will continue to frustify tighter The Currency Commissioners graf reports that the Germans are tier- together in declining to have trado rain and promote the development of the then came forward and bought for manising Knocke. tions with the Germin people so long as Empire within Tirn, as the ward of $3.355,000 securities from the Federated have already beca alered. The former. the was lasts, and we, for our part, have our victory, there will flourish a national Malay States Government, paying for Vlaaruch Pad," for instance, has been issued instructions to our various agents life in which the whole German people them in fresh note and thus providing nanomed Fleische Strasse."

The that the policies of this Company are not can develop in fredom and strength, the Government, with a fund which made same paper learns frens Brussels that the to be issued for the protection of the That will be the crown upon the proud it possible to buy tin and to advance singing or playing of "The Marseillaise" subjects of a country lost to all sense of structure of which Bismarck once lait money to planters and others without has been forbidden on pain of a long term Thumanity.

the foundation.

depleting in any way its reserves in the of imprisonment,

All the street names