1917-01-08 — Page 2

W180-

17759

1799

Mignon

17848-

35451-

INTIMATIONS

(Romanzo-Rubinstei

Canzonetta Hollaender...

Foar Flags March

Wake Up England March

Overture Part L.

Mignon Overture Part II. Underneath the Stars....

Shadowland (Gilbert)

Gems from Floradors

ข

Southerner March

20531---- Thunderer March

64197-When the Dew is falling

64531 Sunto Lucis

64128-Les Farindets

88806-Aprilo (Tosti)

Erminio

Ten Victor Records

should be in every home

Song

Duett

Song

Violin Song

*

THE HONGKONG DAILY PRESS,

String Quartet. Coldstream Guards Bend, 'Concert Orchestra." Δίκαι Green-Macdonough. Victor Light Opera Co. Conway's Band. Military Hand. Mot rmack.

Hamlin

Elmen. Tetrazzini.

MOUTRIE'S

EXCLUSIVE AGENTS.

[20-1

THE LIVERPOOL AND LONDON AND GLOBE INSURANCE CO., LTD.

Hatablished 1836. Incorporated in Great Britalu. Total Assets exceed £14,000,000 : ----

Fire, Life, Marine, Moter Car, Plate Glass, Fidelity Ganianter and Less of Profits Irwance.

COMPANY MEETINGS, THE PEKIN SYNDICATE.

PROFIT FROM MINES.

SUNDAY, JANUARY 8TH, 1917.

|

A fire, which fins caused a considerable dislocation of telegraphic traffic and threatened to cut-off Shanghai's con munication with the rest of the world, broke out in the building occupied by the Great Northern, Eastern Extension and Commercial Pacific cable companies

the floor.

OFF CHEFOO.

OVER 200 LIVES LOST.

EXCESS PROFITS TAX. QUESTION IN THE COMMONS.

In the House of Commons on Novem- her 29th, Mr. G. Touche asked the Chan- cellor of the Exchequer if his attention had been drawn to the effect of the excess profits duty upon the investoint of sparo fanda in Government securities was he aware that a rubber compóny which desired to invest £10,000 in Five per cent. Treasury bills found that, as a result of doing so, its capital would be regarded as correspondingly reduced and its assessable profits increased by £1,000, making it liable to an additional £600 of duty; that as the income derived from the Treasury bills would be 2500 the through investing in Treasury bills than company would be. £100 a year worse off

earning no interest; and, in view of this if it left the £10,000 on current account discouragement to investagent in Govern ment securities, would be consider the desirability of adopting measures to exempt such securities from the operation of the excess profits duty rules as regard-

Mr. McKenna replied: My attention has been called to this matter. In the case mentioned the balance of advantage turns upon the question whether the investment would constitute a with drawal of capital from employment in the business. The incentive to divert funds from business use to investment in Government securities varies in different eases. and the exerss "profits duty fre- quently operates to lessen any disadvent- age attaching to such action. I see, therofore, no sufficient ground for taking | measures of the character suggested.

THE

RECENT NAVAL APPOINTMENTS.

and delays are counted by years, fot FIRE IN SHANGHAI CABLE days; but we have had suficient en- COMPANIES' BUILDING. couragement to persevere in the policy we have laid down. We have rasker more than equal representation on the board of the Fu Chung Corporation, and the The annual maceting of the share. mariagement of the business continuca holders of the Pekin Syndicate, Ltd.

to engage this board's closest attention. was held at the Cannon Street Hotel,

As to the general outlock, you will E.C., on December 4th, Mr. Thomas doubtless have noticed that other Parson (chairman of the company) pre-nations are taking in increasing on the night of January 16 The fire siding..

interest in the development of Chinese originated in the top storey and by dint The Chairman said --I presvuc, you resources. German influence is uf great exertions was confined to the will adopt the usual practice of taking still at work, and competition from upper floors. Fortunately there were the report and accounts as read, so I that sonra will, no doubt, be in only two places where the fire broke shall proceed to farther explain, the in evidence when the war is over. America through into the lower storeys, and these dividual items. Before doing so, how has been making overtures for railway were on the corner facing the Club, where one of the towers" came down broke ever, I wish to paint unit that rates of had other concessions. With our power through the floor and carried the fire exchange play an important part in tufal associations and our catablished posi. figures presented to you. It is, we be-tion in China, we ought to be able to with it. This spread was, however, lieve, the proper course to value the hold our own against all competitors, quickly checked. Again at the back in assets and liabilities which are affected and you can be perfectly assured that the paper store the fire worked through at the rate of exchange ruling on the date your heard will spare as efforts to still fat our hard work that the Bre was It was only as the result of the balance is struck; at any rate, we strengthen and forward the interests of have preferred to adopt this sound the syndicate in every possible way, got under. All floora, of course, suffered

considerable damage from water. metadd, and I think you will agree that should like to take you more Fally into

The Great Northern Telegraph Co. n conservative policy is the right oueur confidence with regard to certain im-suffered the worst, their instrument room To give you an illustration, we have portant business which is under negotia being badly damaged. The Eastern Ex written down the value of the Chinese tion, but, unfortunately, I am unable to tension had time to move a large quan Treasury Bonds Bued in franc value do so until matters have advanced fur-tity of apparatus to the Chinese Tele to the rate ruling on June 30th. Normal ther. As you will see from the report, graph Administration, while the Comed investments.

the first ly, the franc is worth one twenty-fifth we have actually concluded certain busi-mercial Pacific Cable Co. on of a sovereign, but on June 30th it was reas which we regard as valuable, but floor, after removing their instrumenty worth only one twenty-eighth, and this

we are precluded for political reasons were able to replace them. The whole means a depreciation of about £26,000 or from giving any information at the preof the Shanghai Fire Brigade turned that item alone. It may be assumed, how sent time.

out and the assistance of the French ever, that after the termination of hostili-

When Sir Richard Awdry resigned the Brigade was also requisitionel.

detachment of men from the U.S.8.8. ties, the rate will return to its normal chairmanship, I was unanimously Galveston and fletem also rendered level, and even if the Chinese Gorern-pointed by my colleagues to succeed him. valuable help, while the ships kept their ment redeem the bonds before the end of am the representative of a group of the war we could leave the proceeds in shareholders which has a very substan-searchlights on the building. franes until this purely book-keeping tial, and I may say an increasing, stako loss is extinguished. On the other hand, in the company. Since then I have also we have benefitted from the rise in the been appointed a director of the Banque JAPANESE SHIP WRECKED value of the tael, which was 2s Old, on Industrielle de Chine, and have regularly Jurie 30th as against 2. 41. a year ago. attended its board micetings in Paris, This affects the value of our Hoating which have provel of the greatest inter a-sets and liabilities in Chipa, which are cot, and I trast are also to the benefit of accordingly written up about £13,000, our joint enterprises. The position of We had no desire to Lake advantage of this bank is proved by the results it has

shown. For the first two years of its columns at the time, the Hakaka af art, keeping not avoided.

existence it has paid dividends at the a Japanese vessel of about 600 tons, was ADMIRALS' EXPERIENCE IN THE The reduction in the item liability rate of 8 per cent. per annum, at the dashed ashore on the rocks off Chotoo on capital uncalled" is due to the altera same time strengthening its resources, during a strong northerly gale and feroe

Sir John Jellicoe has three times, in tion in the rate of exchange. Cash at This concern is certain to play an import- snow blizzard, between two and thres bankers and in hand has increased by ant part in Chinese finance. Long ago o'clock in the early morning of Christ-

the course of his eventful life. escaped over £102,000, as against a reduction of came to the conclusion that it would mas Day. The unfortunate vessel was £70,000 in the value of investments. The bs. of still greater importance and ad- jammed close in shore between the main death by little short of a miracle. Tho difference of £32,000 is mainly accounted vantage to visit our properties in land and the Finger Rock, a well-known third and "closest call" of all came for by the insurance money received for China, and examine actual conditions on crag which rises erect from the sea about

during the Boxer rebellion, when, in the the steamer Sir Richard Awdry, less the spot by personal observation. I am half a mile or so from the shore.

that course of the retreat to Tientsin, he was the terriblo бед Owing to Jepreciation in value of investments. therefore leaving this week for an ex-

Was impossible to shot through the lung. Bat for five daya Shares in other companies are prac-tended trip, vid New York, and feel it was running it. tically the same as last year. Sundry certain amount of confidence that fruit reach the wreck for two days. Then after this he fought a rearguard action; into safety. He was at the time a cap debtors and debtor balances have in-ful results will be obtained from this Capt. Stampe, of the Netherlands Har and in the end he brought his little fores

bour Improvement Co., manoeuvred a creased by about £23,000. This is prin- visit. That, however, is for the future to lighter alongside by zones from his tug, vain and was Sir Edward Seymour's cipally accounted for by any amount decide, Meantime, I can only hope, tu which owing temporarily by the Fu be able to meet you again next year, and not without the greatest difficulty. Into Chief of Staff. He earned the C.B. for this the fifty survivors dropped far more The four flag officers holding com- Chung Corporation. Stocks of coal in give you first-hand impressions of our dead than alive. They included two Rus- hand have been taken on the same basis position and prospects, besides, as I be stane and a fow Japanese The thermo-mands in the North Sen who are ext at last year, namely, the actual selling lieve, considerable encouragement with meter at the time registered 17 degrees in seniority to Sir Jou are Adiral Bir Cecil Burney, Vice-Admiral Sir price to the Fu Chung Corporation, not regard to the part the Pekin Syndicate of frost. on the old and objectionable system of will play in association with other power, •The illfated ship is reported to have Thomas Jerram, Vize-Admiral Sir "mining cost." Mining stores are taken ful interests in the development of carried about 400 passengers, mostly on Stardee; and Vice Admiral Sir David

Beatty. at actual cost The amount apportioned China, Oporations have been hampered Chinese, and to have had on board two

Sir Thomas Jerram was the Com- to the cost of the Concession is the game and delayed by the difficulty of shipping American missionaries, also the outward

mander-in-Chief in China during the Arst year or more of the war, and was as before. You will, however, observo with materials. Even when a permit hna hoan Siberian mail; these statements have not pleasure that this year no further sum obtained after much trouble, it does not yet been vertail.

The Hunkaku Maru in a small but responsible, with Japanese collaboration, the goods will be forwarded; some $35,000 represented loss on workhich anun

chined a consignment of steel parts, it after (says the Chefeo correspondent of Far Eastern waters, and also for the co- On the contrary, there is a balance au was commandeored by the Government, the Y.-C. Daily News) by residents desir-operation of the British naval forces in the reduction of Tsingtau He is 58, and the right side of nearly $5,000, after leaving us helpless. Unfortunately, these and to is better than that provided it is interesting to note that three of the

ing travel to Europe, as hor lowing for all expenditure on the mines, dificulties are increasing instead of by the other vessels plying between Che-

four squadron commanders are older which sum amounted to nearly £18,000 diminishing, and I fear there is little foo and Tairen; she was accustomed to

than

late Commander-in-Chief, I think you will agree with me, conser hope of better conditions until peace ie run to scheduled time between these parts although standing jurier to kim on the ing past results, that this is a credit restored. Naturally, the nation's needs and Chemulpo..

seniority list. ablo beginning. Although I am loth must have first consideration, therefore to prophesy, I think I can safely say we must make the west of it. I now that, unless events of an anforeseen beg to move: That the directors' re- nature occur, we have at last passed the port and accounts made up to June 30th, days of making leases on working. The 1916, be, and the some are hereby re- item of £6,000 includes the reduits ofceived and adopted. the Fu Chung Corporation's working as well as our own profit, but it is fair to put them together; as the Fu Chung Cor- poration has entire control of the sales. Both companies, however, hav individu. ally worked at a profit for the year.

NOTICE IS HEREBY GIVEN that as from lat January, 1917, the Company's (ices will this position, but as a note of book

to DES VOEUX DOAD CENTIBAL (next to the

Shanghai Banking Corporation).

JOHN BE B. LANCASTER, Acting Local Manager.

Hongkong, 27th December 1916.

CORDOW) &C03

GORDON'S

GINS

ARE THE BEST.

៨

INSIST ON HAVING GORDON'S.

SOLE AGENTS IN HONGKONG AND SOUTH CHINA:

DRYGIN

LOUDER.

DONNELLY & WHYTF, Telephone 836.

CHOOSE

and

DIDTOME

LONDON

JAEGER

FINE PURE WOOL

UNDERWEAR

REPLACED

IF SPOILED BY

SHRINKAGE

MACKINTOSH

& CO., LTD...

MEN'S WEAR SPECIALISTS,

16, DES VIÐUX ROAD.

REMINGTON No. 10. ...

OLIVER No. 5. ...

UNDERWOOD No. 5....

L. C. SMITH NO. 2.

TELEPHONE 29.

[103

$100

$100

$125

$90

SMITH PREMIER No. 10. $90

5.

Machines are in first class condition and ready for immediate

Apply:

delivery.

130:

WILLEM HEYBLÓM,

POWELL'S BUILDING,

12, DES VECX ROAD.

As briefly announced in our cable

This services.

FAR EAST,

ove-

as against £63,000 a year ago, and loss. I follow that stay we had oh well built ship, and is always sought. I for the sweeping of the German flag from

INCREASED COAL BALES,

BRITISH AND CHINESE

CORPORATION.

The annual general meeting was held at the Cannon Street Hotel on November 30th, Mr. C. C. Macrae presiding. In moving the adoption of the report he said :—

Recom-

FAR EASTERN MEN-AND

sont war.

Captain Fitzmaurice, D.S.O., who bas been appointed to the command of the Espiegle, is well-known on the China and Australian station. He earned the D.S.O. in the present war.

Sir David Beatty, the new Commander of the Grand Flect, is a son-in-law of the Chicago millionaire, Mr. Marshall Field, etc. He will be remembered in the Far East, for he was commander of the THE WAR.

battleship Barfleur in Chins at the time of the Boxer rebellion, and was landed. Engineer Captain W. V. Juniper, for service with the naval brigade. Ho R.N., has been promoted engineer rear-

showed exceptional tenacity in endear admiral. He served on the China ouring, with couple of hundred blue- Station, and has seen service in the pre-jackets, to capture two Chinese guns which were causing considerable trouble to the forces and inhabitants at Tientsin. Twice he was wounded, but continued to lead his men. were recognised by his advancement to His services in China captain, but owing to his wounds he had not put in the requisite amount of goa time when his turn came for promotion to rear-admiral on January 1st, 1910. The Admiralty, however, by a special order made the advancemat possible. Nelson was thirty-eight when he became & rear-admiral; Beatty was thirty-nine. He was promoted over the heads. of 395 lieutenants to the rank of comp- mander; over the heads of two hundred became a rear admiral, he was younger commandera to that of captain; when he than 90 per cent of the captains; and now, when he must receive the acting rank of admiral, he is younger than any f the vice-admirals. His now appointirent. is the most unmistakable evidence of the fact that this is a "young man's war."

Station recently Constable Leary was the At the Shanghai Central Police

recipient of a wallet containing a draft presented to him by a number of his co- radce, as a mark of respect and esteem, the Force in order to proceed, Home to on the occasion of his resignation from. join the Army.

HONGKONG POLICE RESERVE.

POLICE-RESERVE CAZETTE. “

Section Commanders who have not sont,

That the new arrangements have met with success is shown by the fact that our sales of coal increased from 335,880 The Corporation has been unable to tons to 412,348 tona. True, the profit enter into any fresh business in the year. per inn has been small, but it could under review. Since the political con- Second-Lieut. H. N. Heathcote, who hardly be otherwise in the process of vulsions which have befallen China, and is reported as having died of wounds organising and capturing new trade most seriously affected her financial re-received in action, was formerly in the openings, which has frequently to be done sources and paralysed her chances of office of Messrs. Comes & Co. at Kobe. in face of competition with trades developing her country, enterprises in. He returned to England soon after the Already established. I may mention that volving expenditure of capital, a Cor- outbreak of war, obtaining a commission we are now in a position to increase our poration such as ours, whose main pur in the East Yorkshire Rogimont. output to any extent that the demandpose in to assist her in such development may necessitate, and that we confidently by providing capital as required, is expect the sales will materially improve. necessarily at a standstih in its more This desirable state of affairs would active operations, and can only mark naturally favourably affect our working time and attend to the interests of the costs and profit. We have had the advan various undertakings it has already pro tago of a visit from our rendent er-moted in that country until more fav gineer, and after conferences between ourable times resur. Fortunately, the this gentleman and the board and the conservativo policy we adopted in more: consulting engineers, he has returned to prosperoun, years has enabled us tẹ cnti- Colonel L. G. Bird, who is well-known China with a clear understanding of the tinue paying dividends, and were it not to many in Hongkong, has been awarded definite programine which the board has for the continual depreciation in the the D. 8. O. Formerly of the firm of in view.

value of our investments, we should have Messrs. Palmer and Turner, Mr. Bird Coming to the credit side of the been in a position to pay even higher was among the first to leave Hongkong account, you will see that our revenue dividends. In the last five years we for the front. His promotion was has increased by £96,306. - This is prin- have written off for depreciation £44,865, rapid, and he is now Colonel Command- cipally accounted for by the following and this on well selected and intrining the 11th Batt. Lancashire Fusiliers, items-Profit on steamer. Sir Richardsically sound, securities, The Chinese Audry, £12,150; difference on exchange, Government is indebted to us to a very Captain Edwin Milward Charringlan, £19,163. With further reference to the considerable amount, as it has been im Essex Regiment, who was killed on colliery section of the syndicate's basi-possible to place, the issues which would November 15th, in his 25th year, entered ness, you will be glad to hear that even have enabled them to meet these obli- the office of the Union Insurance Society at this preliminary stage we are satisfied gations, but I think it is much to the of Canton, in London, with the view of that the formation of the Fa Chung credit of that Government that in the going out to China later. But after two Corporation was a step in the right direc face of enormous difficulties they have and on the outbreak of war obtained a years service he relinquished his position, tion. Naturally, a complete organisa steadily paid the interest on their heavy commission in the Essex Regiment. vion could not be formed all at once, liabilities, to us and their numerous and we still have to feel our way cau- foreign creditors, and we have no doubt tiously; but about seventy depots have that they will emerge from their triale already been started, covering a large with as high a record for good faith but these are being gradually overcome, area, and fresh outlets are constantly and reliability in their engagements as and its later ́earnings have been highly being sought for. All this, however, hitherto. The various railways with satisfactory and for the first time cover... takes time, and even when a depot is which this Corporation is associated the fixed charges. We propose to pay Tho Reading Room will in future, be opened, it is not certain that it will love as usual, been under our constant dividend of 5 per cent. for the year fres prove to be remunerative. We can only attention, and much of our work consists of income tax, carrying forward £19,176 And out by actual experience. You will in dealing with various questions con-against £12,541 in the preceding year i understand, therefore, why we are not erning them as thus arise from time to But with income tax at 5. in the £1, yet in a position to put a definite figure time. But I need say no more about them and the possibility of further increase, it to the amount which it will probably beat the moment than to mention that the is only right that I should warn you that necessary to wipe off the past expendi. Shanghai-Nanking Railway is proving our paying dividend free of income tax ture so as to bring it down to what may itself to be as prosperous an undertaking which in this year makes the amount be regarded as a bed-rock commercial as we believed it would be when we un-equal to a dividend of £0 13 4d. per busis, Lat we have hopes of doing so in dertook to place the capital with which vent subject to tax, must not be taken the near future. Progress is wessarily, it was built. In the earlier years it hurl as a precedent. slow in a country like Chins, where time appears to be regarded as of oo value,

The

in their lists stating the number of copies required, as per personal letter from the undersigned, should do so without delay, and, in any event. not later than January 12th.

Gazette Committee will meet at the D.S.P.'s office at 6.30 p.m. on Mon day, January 8th...

CYCLIST PATROLS,

A number of now machinea having been presented to the Police Reserve, a Cyclist Patzel Section iy to bo formed for duty on the Kowloon peninsula, Members may submit their names for election to this. office.

HEADQUARTERS CLUB.

open to Ladies

(Sgd.) F. C. JENKIN,

D.S.P. (B) Hongkong, January 6th, 1917.

Reports from Hamburg state that Major Moraht, the well-known litery critic and member of the staff of the Tageblatt, has been dismissed from th

many difficulties with which to contend, The report and accounts were adopted, I journal for advocating Pan-German wir

(Continued at foot of next column.) i and the dividend declared.

KWS.