1916-03-25 — Page 3

Page

CITIMATIONS

THE LUZON SUGAL REFINING CO

*LIMITED,

N

CORRESPONDENCE.

TAN HONGKONADAILY PRESS. SATURDAY, MARCH 25rm, 1918,

originated, it being cemed not merely by

UINE EROTI

schen data managrandapancalar dedits dua] currency (namely, inel and Moxi-" THEIR GLORIOUS PART IN THE CONTRIBUTIONS TO | cân dollar), but especially by its not hav-

BRITAIN'S WAR CHEST.

ITO. THE EDITOR OF THE HONGKONG. DAILY PRESS.'']T

812,-I was pleased to see that you made my last letter the subject of a lending article in one of your recent issues, em-

OTICE IS HEREBY GIVEN that an EXTRAORDINARY GENERAL HEETING of the above-named Company will be held at the Office of the General Agonts, MesareR JARDINE, MATHE SON & CO., LTD., Hongkong, ou FRI- DAY, the 31st day of March, 1014, at 11.30 -'clock in the foresoon for the purpose of considering and if thought fit passing as Extraordinary Resolutions the solutions any as a means of helping to win the following, namely !---

wor.

WAR

M. REDMOND LIFTS THE VEIL

NTIMATION

LANE

CRAWFORD & Co.

SPORTS

DEPARTMENT

HAS JUST

RECEIVED CONSIGNMENTS OF THE

FOLLOWING GOODS:

SHILLCOCK'S

ing a standard currency of its own for sub-coins, aud so on. The main basis of its

Ar. Redmond has written for The Irish not Moxiann Connery in the back (and

a the Front by Michael Macdonagh, a dollar, as he naerted), for Municipal preface which, says the Britim Wekly, taxes, customs dues. etc., have always been will rank with Mr, Lloyd George's famous introduction to Through ferror to tions of all mercantile concerns generally, portance. It will be quoted with his great basce on the tra!, and so are the transie Triniphas a work of real historical in A canal glance at any one of our locale at the outbreak of war by every phasising the importance of per bank's daily exchange quotations on Shang-in which a realy United Kingdoss nic thu

Writer who attempts to picture the OUR hai, as well as the Shanghai ro market challenge quotations, will reveal this fact, and a ho of ours, with their astonishing courage It is, says Mr. Redmond, the soldiers (1.)—That it is desirable to reconstruct

Being ine, igible for active service, I con himself admitted that there were two cur and the beautiful faith with their the Company and accordingly that the Company he wound up volun-fess I feel very strongly on this question, rencies in Shanghai, I think it puerile use as well as strength; carrying with them Patural military genius, with their tenders tarily and that Arthur Rylands as the furnishing of the "silver bullet i and no argument at all simply to say that their green flags and their Irish war-pipes;. Lowe, of Viotería, in the Colony of

one of the few ways and a somewhat in people dealt practically in to the Mexi-advancing to the change, their fearless of Ifo gkong, Chartered Accountant, be and he is hereby appointed glorious one at that in which I can do my car dollar basis more than the other. I beloved chaplains as grent-hearted as then

cers at their hendi and followed by their Liquidator for the purpose of such it. winding up and that Artielo 124 of

pover said that because the exchange bo-selves; bringing with them quality al And I must confess, also to a feeling altween the Mexican dollar and the telebluiting the character of the Irishinasat the Company's Artícles of Associa

their own to the sordid modern battlefield, "tion, be, cancelled accordingly. most of irritation at the apparent indif-aried the evil of premium and discount (2).Tha Messra Jardine, Mathesonference of the average Briton out here on

Co., Ltd., the General Agects of this this question of saving money and invest along said was that, in the absence of was thereby caused; for what I have all Company, be authorised and request- ed to procure the incorporation in ing it in War Loan, rather than in the local standard sub-coins of its own, and in view the Philippine Islands of a new Company to be called the Malabon share market. When the matter is discuss of the fact that the sub-coins in use and thar lips because it was given for Ireland. Sugar Company (of which Messrs.id you are told, "We're all right; get pots Smith, Bell & Co., Ltd., shall be of money, haven't started to feel any finan. appointed by agreement Generä). Managem) with Articles of Incor-

cial pressure yet, and won't for a long poration and Byelaws in snch form line" We seem as nation to have (15 the General Agents shall awakened at last to the realisation that approve (*) That the draft Agreement suh-

this war is calling for every ouncy of our I really think that a certain back. For mitted to this meeting marked "A" efforts in making munitions and supplying which I worked in Shanghai as acting and expressed to be made between this Company and its Liquidator ofen, but I cannot see an equal apprecia-accountant really did not know its business the one part and the Malabon Sugar Company of the other part be and the same is hereby approved and that the said Liquidator be and he is hereby authorised pursuant to Section 186 of the Companies Ordi- nance 1911 to enter into an Agree.

tion of the seriousness of the financial posi tion. It is true that Mr. Asquith and there have spoken solemnly and plainly, but what effec; do their words seem to have on the man in the street, or, to bring the application nearer home, in the average Enstorn club bar 7

There may be a widespread spirit of sav- ing abroad, but, personally I have not heard of it, nor como aéross any instances of it.

ment with such new Company (when incorporated) upon the terms of the said draft Agreement and to carry the same into effect with such (it any) modifications as he thinks axpedient (4)—That the said Liquidator be authorised to obtain advances from Messrs Jardino, Matheson & Co.... I would welcome the convention on the Ltd., of any moneys requisite upon part of the Consular Authorities in ench such terms as by sees fit and 'to make arrangements if he thinks it Fastern settlement of Britons, of the lead-, för Messrs Jardine, Mathesoning business inen, tu ngres that cach man & Co. Ltd., to continue maalging the affairs of the Company on such individually would set aside, a certain pro- terms as he thinks fit until the portion of his salary for investment, ip War undertaking of the Company is funds, and to undertake, further, to ask banded over to Use said Malubon Sugar Company pursuant to any

each British member of his staff, personally, Agreement entered into by virtue to do the same. of Resolution No 3 Should the above Resolutions be passed by the required majority they will be sub-trenches of Flanders, or the damp furnace mitted for confirmation na Spec at Resolo tions to a second Extraordinary General Meeting which will be subsequently

convened

Dated the 16th day of March, 1016. JARDINE, MATHESON & C, Lm. General Agenta,

[497

ROYAL HONGKONG GOLF CLUB.

COMPETITION will be held over

A the FAN LING Course commencing

on 1st April for a prize kindly presented by H.E. the Governor, DOMBITIONS. Match play under handicap.

mittee.

It is an Inglorious alternative to the

heat of Mesopotamia, but the neglect of such a duty by those of us who cannot get the front is just as serious as slacking

would be by the man on active service.

It we can only realise the scuse of our in- dividual financial responsibility in this matter, and not got into that fatal habit of thinking that The Government are, after all, getting along pretty well, and not worrying our heads any more

about it, we shall ben he doing our part

in bringing this ghastly, war to a definite and triumphant end; otherwise and the

its noblest and greatest-It is these soldiers

It was never in worthier, holier keeping Ireland has passed to-day. of ours to whose keeping the Cause of

than that of these boys, offering up their supreme sacrifice of life with u suile on May God bless thou!

in circulation in Shanghai come from other parts of China, the Shanghai evil was

THE FAMOUS FOOTBALL CHARGE: ・・ caused by the exchange of these unstandrish Regincit at Ypres, the London Irish The Irish Guards at Mons, the Royal ardised sub-coins, and its standard curat Loos (dribbling a footbal before the rency, ... the wand dollar.

they charged the lays in the trenchios cfore the charge holding out the matcha. with which they had lit their cigarettes 16- how each other that their hands were not haking), the regular battalions ng “ V,?!. Beach, the now service battalions of the Tenth Division a Suvis, I name out of a long list,

To General Mahon's Division composed exclusively of new levies who woto civi- finns when the war began thousands of and. Chinnaught represented its ranks--the Nationalist families in Leinster, Munster, terrilio open Lighting at Suva Bay (which began with the shelling of the lighters at of contact mines as they set foot on shore) the landing and the bursting of chains of

was their first experience of being under fire,

when it appointed me to that position if I have now to learn from “A Confuciau Economist” the exchange between silver and gold, etc. Having now done with his paragraph No. 1. I will how proceed to deal with paragraph No. 2. He says: Nor is public opinion likely to remove this evil. Any are person knows that public opinion cannot do it, but it can pass its conure or approval un a person. What I said was that if the puldit were of one single opinion and if they were to refuse in a body to part with bank-notes, etc., at a premium the evil would be removed. Ho further said the public was benefitted by the evil, but I fail to see how any per-wrote of the Irish

on could be benefitted by any evil. To substantiate his statement be gives a silly example of the difference of price to hes paid for a box of Pear's soap in a Chinese

store and a European dispensary, the reason being obvious. If the price charged for the soap is 8.40 în sub-coin, did it sever occur to him that in pricing their gode the stores always charged a small margin

Undismayed, their coolnes undisturbed, they formed for attack as if on the parade ground.

"LIKE" CLIMBING INTO HADES."! Captain Thornhill. himsdf a represcuta live of those magnificent Australian and New Zealand troops whose prowess has been another of the revelations of the war,

Their landing at Suva Bay was the

"MCGREGOR,"

TENNIS

FOOTBALLS

JOHN BULL,”

"OLINKER.

RACKETS

* LAMBERT CHAMBERS,"

TOURNAMENTS,"

TENNIS

BALLS

DOHERTY,"

VANTAGE.”

SLAZENGERS', AYRES', AND SPALDING'S

"ALL" PACKED ONE DOZEN IN TIN BOX,

STRONG ASH TENNIS POSTS. STEAM TARRED TENNIS NETS. COURT MARKERS, CENTRE GUIDES. TENNIS BALL CLEANERS, RACKET COVERS. ETC.

LANE, CRAWFORD & CO.

frontest thing you will over rent of in HONGKONG, CANTON, MACAO

books by highbrows. Those that witness. ed the nuvonce will never forgot it. Bullets and shrapag rained on them, yet they never wavered. The way they took that hill (now called Dublin Hil) was the kind of thing that would moko yêu pinch yourself to prove that it was not cheap wine aftermath How they gat there heaven only know, As the land ny, climbing into hell on an aeroplane seemed an easier proposition than taking that hill

When it was decided to occupy Salonios land to march to the aid of the Serbian noty it was to the Irish Division, andor their splendid Irish commander, Gen, Bir Bryan Mahon, that the place of honour for this desperate enterprise was given,

ovo, and above the real cost of their goods so as to enable them to convert "the sub=" coins into bank notes, in which they to pay for their goods? The stores did make any profit out of this extra charge; it was the money-changers who did. What is the position then, of A Confucian

Economist !" It was he who paid this extra

charge; yet he said, an every bilistins like him would say, that he had made a profit out of a sheer losi

Limited to handicaps of 12 possibility has to be faced-if our full force in the last sentence of his said paragraph

and ever, Entrance fee 50 cents per

cannot be brought to hear owing to finan round, the proceeds to go cial difficulties, and a patched-up pesce is to the War Charities Com-the result, wo sball have an equal part in Intending competitors are requested to the blame and disgrace Yours faithfully sign their names on the boards at Happy Valley or Fan Ling or to send same in writ ing to the undersigned, o/o Messrs Bradley &Co., Ltd., not later than the 25th inst.

T. W. HILL, Acting Hou, Becretary. Hongkong, March 14th, 1918, [414

DEEP WATER BAY COURSE.

́ ́ SILVER BULLET.”

HONGKONG CURRENCY

PROBLEM-

[TO THE EDITOR OF "THE NONGKONG DAILY FREES,"]

he said, what he could not understand was why the banknotes, being only promises on the part of the banks to pay a certain stipulated amount, should be worth more This I have dealt with in my original lecture and I de not propose to enlighten him on this point, as he profeses to be such 3 great politica economist,

Now as to paragraph No. 3 Whoever told him to believe that people were more for bank notes

S-A your correspondent a "Confu- willing to pay

Acting as a rearguard against an army ten times their pumber, they did what was

peltber expected ner counted upon. But an their courage and determination, came their instinctive uilitary genius, as well into play, and they held up the over-

forces were able to withdraw safely to their whelming enery for so long and with such skill that the entire French and British defensive positions without the loss of a single gun or a single transport, wagon...

ATION will be held on SATURDAY on Econoscit declines to disclose is simply because they were case than proposed a grand fomedy. To quote his

MIXED FOURSOMES COMPETI-"

and SUNDAY, 8th and 9th April.

CONDITIONS:-7 holes against Bogey under handicap

The Bogey score and table of holes at which strokes aro to be taken will be fixed

later.

"MUSKETRY CONTEST. NAVAL, MILITARY AND POLICE FORCES

(Regular and Auxiliary);

Thore is no sense as all in his last para- graph but one, because he simply ropcated in that paragraph a further reflection an the backs when he said they were keeping the Government out of the arena. What arena The less incurred by the Govern meat in the redemption of sub-coins had bren fully explained in the speech on the Colony's Budgat, as well as in my lecture. Now, for his last paragraph, in which be

own words, the remedy for the present chaotic state of affairs, f remedy there be, lies with the Government." I cannot under- stand however, how he could offer any remedy when be himself did not know if there was any! Did he rightly consider what would be the effects of such a remedy as proposed by him and did it never strike him that the Government is composed of in- eligent men, to all of whom such a remedy must have occurred Again to pass a law restricting the importation into Hongkong of dollars forming part of its own currency is an idea which could only take root in the mind of "A Confucian Economist.

bane, I will now reply to his letter of the silver to hide and store! I certainly 13th instant. If I did not think of doing did not. What a great political economist so before it was because I considered his he has made of himself to talk of heliefe in letter did not deserve any reply.stead of facts! As there was no further Entrance fee $2.00 per couple,

What "A Confucian Economist" is pleased argument in this paragraph nor in that im. Competitors must arrange their own part-to call me troubles me not, but what modistely following, namely, No. 4, let me sers and opponents and are requested to send their names to the undersigned, or to troubles me much is that be should have preceed with his next paragraphs, Nos. 5, post same on the boards at Happy Valley, grossly misrepresented what I said.. 1 € and 7, in which he tried to trace the Fan Ling or the Hongkong Club before the have never laid claim to being such a origin of the currency evil 5th April,

TW HILL learned political economist as himself. My To say that the banks, in order to main Acting Hon. Secretary education has been but a natural one, that tala a high charseter (sic) value of their

Before A Confucian Economist again Hongkong, 22nd March, 1916. 1436

is to say, my ideas are received by intui-notes would only accept big amounts in ventures to offer his criticism on any sub- tion independent of the will. I certainly silver at a high discount was a gross and ject he should first understand the function unjustifiable aspersion upon them, because of criticism and, secondly, the subject-mat did not exhaust the field of the subject they would then be stigmatized not on y byter he wishes to criticise. In the present matter of my lecture-as, perhaps, be him but by all as the origin and cause of case it is obviously clear that he did not did by a mere column of written matter the currency evil If A Confucion understand it, and, what is worse, he did Econourist were to go to a money-nos, understand my lecture, and because he although it wok me about thirty minutes changer's and verify for himself the difid not understand it he distorted it to deliver it, and that rapidly, too. Ha férenos in the value of exchange between I will not say maliciously so as to suit could not have been one of the apprecía-

ʼn five-dollar bank-rote and five one dollar | some ulterior views of his bank-notes he wall, perhaps for the first ⠀⠀ For has benefit I will here again give him tive audience present at my lecture who time in his life, learn thng there is disa brief resume of my views on the cause of heard the special stress laid by the Chair- count on the former, and will blush to have he Hongkong currency evil. A little over a man, the Hon Mr. H. E Pollock, K.U, asserted that the banks have been main-decade ago there was no such a thing as a taining a high vaua for their notes; on currency evil in Hongkong; our currency 200 yards-Deliberate and Disappearing on his inviting a disssion, that I had con- the contrary, it is the money-changers who of all values was always accepted at par

Targets.

The evil, therefore, com- siderably curtailed my original lecture for have been doing so. He is equally wrong in everywhere, 500 yards-Deliberate,

his assertion that money-changers could not menced with the influx into the Colony of 600 yards-Deliberate.

that purposs; otherwise he would have buy up the revenues in sub-coins of some Chinese coin of all kinds, and Hongkong thought twice before he dared to offer any houses becante they had limited capital gan to be placed in a position imilar This is another instance of his very wide to Shangha, as the sub-coir,, then in cir- criticism,

kanwledge of the workings of a money culation wore purely Chinese, Then fal- changer's business, Why, man, the money-lowed the law proh hit ng their circulation thangers are constantly buying and selling The cans and retention of the evil I have sub-coins and bank notes, so they could east. Fully dealt with in my lecture, which " ly buy them up and resell them, no big Confucian Economist should study closely capital bang required for that purpose; Such being the case, are the banks respon- but some of them can I should think, buy rible for the evil Yours faithfully

...J, M. XAVIER. him up body and soel as well as the writer

Hongkong, 23rd March, 1910.

TEAM AND CHAMPIONSHIP SHOOT, FASTER MONDAY, April 24th, 1018," Teams of three from each Branch of ceh Service in the Colony.

70) yards—muping.

No Entrance Fee.

Tifia on the Range Conditions and Description of Targets will

be issued,

Letters on this matter have been addressed to Commanding Officers.

F. C. JENKIN. Deputy Supt. of Police (H),

Prince's Buildings, Hongkong, 18th March, 1918.

Now for bis exhaustive arguments, did not attribute our currency evil tu Shanghai on account of its dual currency, as he seemed to imply

What I mid, effect, was that that port may be pointed to as the place whero the currency evil himself.

WEST

RIVER STEAMERS.

JOINT SERVICE OF THE HONGKONG, CANTON AND MAÇAO STEAMBOAT CO. LTD., AND CHINA NAVIGATION CO., LTD.

HONGKONG-CANTON LINE.

Single Faro by Night Stanmer fort Retten:

Pravaliable also for return

ishngle Farn by Day Blenmer Eeturn

$6.00

10:00

400

8.00

HONGKONG TO CANTON,, | CANTON TO HONGKONG.

SATURDAY, 25TH MARCH, 1916.

8. HONAM. 10 pan. HEUNGSITAN.

10 pm KINSHAN.

BAD. HEUNGSHAN.

pm. KINUHAN.

SUNDAY, 26ти MARCH, 1916:

'$. p.m. HEUNGSHAN.

HONGKONG-MACAO LINE.

RA. BUT FAL, Tonn 1,851.. MIA 8.8. TAISHAN, Tone 2,005, HONGKONG TO MAÇAO.

Wook đaya at 8 na, and 2 pm. from the Company's Wing Lok Stress Whole CABLATE 19 9 6.3. and 1. p.m. fener the Company's Wing Lok Birved Wharf,

MACAO TO HONGKONG

Week days at 7.30 am. und 2 pil. Bundays at 7.30 am, and 3 pun, EXCURSION TO MACAO. SUNDAY, 2611 MARCH, 1916,- |

The Company's New Bisamship

« TAISHAN”

Will depart from the Company's Wing Lox Brank WHARI *1.9 sm, and reduzm from M sono at 3 pm, an

B.BysThe Company will also run a Bloster from Maeso on Sunday at 730 sáu ad from Hongkong at 1. p.m., from the Company's Wing Lok Streek Winef.

FARES 43 USTAL.

MACAO-CANTON LINE

ABB. SVI ANJ

Deserteren from Huono to Canton on Monday, Wednesday and Friday, 1819 par. Utsmyhan from Cânion to Macao on Tuesday, Thursday and Saturday, 11.4.87 p.in.

JOINT SERVICE OF THE HONGKONG. CANTON AND MACAO STEAMBOAT CO. LTD.. THE CHINA NAVIGATION CO., LTD. AND THE INDO-CHINA STEAM NAVIGATION CO., LTD.

· CANTON-WUCHOW LINE. 8.8. BAINAM, 588 tous, and 2.8. NANNING, 569 tour, Ons at the above Biomimars lexren Canton for Washow every Monday, Wednesday not Friday at sboni 8 a.m., and the other leaver Wushow for Canton on the same days at 250 mome Bound trips take about 5 days. Passenger can return to Hongkong or ios versa, by Company's direct Biemers LINTAN and SANUL These reusel hare superior Onlin meckomodation and sure lighted throughout by electricity. Electric Fan Ini ench Calin,

Posking Ofpe open daily (Brinday sercep fed) 1 am, to 5 pas AOR Farbber particulars may be obtained at She Oiles of the

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

Hotel Mannions (Fiest Floor), opposite the Blake Pier,

LONDON SELLING AGENTS

TRA, INDIGO By Bolden FIBRESĮ mission in British BRISTLES:

OILSEED

and Continental

HIDES & SKINĖ | Markets," RUBBER, DRUGS COTTON, WOOL Samples valued. ORES, MICA GUMS, AND

GENERAL

PRODUCE

[12%

HONGKONG: METEOROLOGICAL

REGISTER

· Hongkong Observatory, March 2its.

Previous On Date On Dulu

Day

Best porte for

Temperature Humidity consigamenta im

Wind Direction dicated.

Faroe eather

KEYMER, SON & CO., Import Dept.) Whitefrism, London Telegrama, “Kormer, London." Est. 1844,

st. 2 p.m. 6. s.20 2 р

30 26.

30.33

30 32

55

59

68

73

ENE

North

1 Ighout apám sir Temperature on 23rd........ Grant open the Tamperstars on 23rd.

60