1921-02-02 — Page 5

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CABLES

LATEST CABLES. (THROUGH REUTER'S AGENCY.]

HOPEFUL TRADE OUTLOOK.

CONDITIONS IN GREAT BRITAIN AND UNITED STATES,

ན་

LONDON, February 1st.

Mr. Bellaway, speaking in Freston, was hopeful that trade recovery`now will not be delayed long. Foreign markets had been glutted with dear goods, but these were being steadily disposed of. The world's hunger for supplies was not satished, and it was certain to become! more urgent. Hence over-production was Bot an evil, as was sometimes suggested, -but production at prices which people were unable to pay. The great danger was the policy of ca-canny, which meant high wages and low production, making prices prohibitive. The signs of the trade turning are

indicated by the

that

of number

steel furnaces in Wales have been re-started.

PROBABLE EFFECTS OF PARIS AGREEMENT.

·ZŁOWI

.

LONDON, February 1st.

Mr. Booth, Vice-President of the New York Guaranty Trust Corporation, in-

serviewed in London, said that American plans of "reconstruction of Europe, were based on the expectation of a shorter period of German indemnity payments, and in view of the Faris settlement müst |.

THE HONGKONG DAILY PRESS, WEDNESDAY, FEBRUARY

TO

REPAIR LOCOMOTIVES.

BRITISH ENGINEERING PIRK'S CONTRACT"

RUSSIAN

PETROL PRICE PROBLEM. "PRODUCERS ACCUSED OF

PROFITEERING.

END

1921.

The only new information of import FAR Luce consists of a report by Midship man JL Storey, of the Queen" Mars, the senior surviving officer.

6-Is there any explanation as to the error in the signale which reached Admiral Jellicoe, resulting in his finding the enemy on his star-board bow instead of ahead f

EASTERN CABLE

NEWS.

(THROUGH REUTER'S AGENOT.]

UHIKA FANINY RELIEY,

LONDON, February 1st. The subscriptions received by the Hong-3 kong and Shanghai Bank in London on Ob secount of the China Famine Relief Fund

- total

£16,896, including £105 from the

now

The report inggests that the error did not amount to as much as twelve miles, but there is no explanation of how the error occurred, except such as "Admiral Jellicoe has himself furnished, viously," he has declared, “great re- lunce could not be placed on the posi tions (of the ships of the High Sea Chinese Central Railways. Fleet) given by the ships of the Baptis Cruiser Fleet (Beatty), which had been in action two hours and frequently': altering course."-2. containing

BATTLE OF JUTLAND.

OFFICIAL DOCUMENTS.

··WHAT THEY, "REVEAL.

LONDON, February 180.

[ST AMEHEAD HUED,) Lornou, February 1st, 2 The Board of Trade's socond rep

repart Messrs. Armstrong and Whitworth's attacks the Oil Trusts. The present cos in accordance with the pledge recently Shortly after noon yesterday (Dec. 17th),

have entered into an agreement with a of the production of fuel oil does not Russian trade delegation for carrying justify the prices charged. That the stren in the House of Commons, a volume of oficial despatches bearing upon the cut repairs prestically to the whale of producers are exploiting commmers, Battle of Jetiand, with expendion, was Russia's locomotives. The commence- Fowing the large demand, is the issued by the Admiralty 1068). In ment of the work depends on the ratifica Committee's verdict, and the Committee addition to the letterpress, which consists tion of the Anglo-Russian trade agree adds that there is no possible justifica of 600 octavo pages, the volume con ment Unquestionably, this is a great tion for the recant increase of ten tains thirty-one track charts or disgrans,

Endo contract and should give employment to panos par gallon in the price of petrol and is accompanied by a

The Committee, while stating that it twelve British and seven German plans, hundreds of men.

dialikes Government control, declares tracks, or diagrams. Admiral Scheer's report is appended. The Harper "mar that there are only two ways of over-rative" finds no place in the volume. coming the difficulties, firstly, combined action through the Economic Section of BOMBAY, February 1st

the League of Nations, secondly, the »'Uneasiness continues with regard to production of enbatitutes and adoption the situation in the mill area. Employes of alternative sources of power to an in the weaving department of the Cen extent that will lower prices. The tury Mill have struck for higher wages. soundent policy is to make the fullest The strike at the Kohinoor Mill con-use of coal and its products. tinu

BOMBAY MILL STRIKES. UNEASINESS PREVAILING IN

INDUSTRY.

EARLIER CABLES.

THE PARIS CONFERENCE

A PESSIMISTIO VIEW.

LONDON, January 31st. The generally opimistic attitude of the

British Press with referencs to the agree ment reached between the Allies as re-

garde reparations is not shared by the Westminster Gazette, whose Paris cor: respondent says that Mr. Lloyd George was stung to plain speaking by the santi-

now be changed. Credits to European mental French view. The correspondent nations must be extendel to enable them Aerts a result of his private con to pay without a strain. Another affect versations with British official personages

of the Paris Conference, would be the adjustment of the American tariff schedules. The pre-war reasons for pro- tective tariffs had lost much force, but America must be protected against dump ing, while new markets must be found by following the British plan of support ing the development of new countries. The formation of the Foreign Trade Financing Corporation, which had just issued in Now York" capitul stock of the #alue of £20,000,000, was the first big stop

in

extending foreign credit. The special law under which it had been organised would permit the issue of debentures ten times its capital, which could be sold in small denominations to individual investors in the United States.

that they know the sum obtainable will be relatively low. The correspondent is of the opinion that the system now proposed is largely camouflage and, in a few years, when Germany is probably behind in payments and the Allies are alarmed at

BANTAMWEIGHT CHAMPION

JIM HIGGINS RETAINS TITLE,"

LONDON, January 31st.

At the National Sporting Club, in a twenty-round contest for the Bantam-

Scotland (holder), beat Kid Symonds, of weight Championship, Jim Higgins, of

Plymouth, on points.

THE MURPHY APPEAL

LONDON, January 31st.

In the appeal by Murphy (the Cork man who was sentenced to death by Court Martial to the King's. Bench Division in Dublin, the Chief Justice has delivered the unanimous judgment declaring that the Court had no power to give a further stay of execution, but expressing the opinion that the prisoner should be given an opportunity of making any

further

This material, it is understood, places at the disposal of the public all the mate- rial evidence regarding the manner in which the Battle of Jatland was lought. It includes not only Lord Jellicoe's des patch and sundry letters addressed by aim to the Admiralty soon after the battle, but also reports from the admirals commanding the Ave Battle Squadrons, as well as the report of Admiral Beatty and statements by the senior officers of the Crakter and Light Cruiser Squadrons and the torpedo flotillas.

It has been stated, that Admiral

Jellicoe, when he brought his six divisions of battleships into action, deployed away from the enemy. Is that state- ment supported by these official papers!!

It is revealed that Admiral Jellicos did not deploy away from the enemy, but, on the contrary, formed bin lins of battle so as to get between the enemy and his bases......... (See chart con" page

....

RICE CONTROL IN STAM..

BANGKOK, January 31st.

Rice control has been abolished,

GERMAN QAPITAL

INVESTMENTS.

AMAZING FLOW OF MONEY,

PARIS, January 28th. The French newspapers quote the Ger- 8-Later on, when the enemy, suffering man financial newspaper. Die Bank for heavy punishment, decided to break of the action and made a fierce attack with some very illuminating facts regarding destroyers supported by battle-cruisers (at the dow of German capital during the the same time raising & smoke screen past year. between the main British and German forces), was Lord Jellicoe's action in turn- ing away first two points and then an other two points, due to a momentary in pulse, or was it a tactic which had been considered in advance and was concurred in by the other senior admirals?

Un this question there is no shadow of doubt; the matter had been the subject of discussion, plettings on the

"tactical" - board, and exercise by sea. The movement

The German organ, shows, that new capital invested in German companies. during the first 11 months of 1920 amounted to no less than 7,273,000,000 marks, the corresponding gure for 1910 being barely over 1,000,000,000 marks.

The increase of capital of existing companies amounted to six and a half

With the aid of these numerous charts and the many reports written by Bag officers, captains, and others, the patient historian, if adequately equipped in knowledge and experience, will be able to trace with accuracy not only the course which the action took, hat even

of individual ships. The task will not be the participation in it of a large number

testimony, in some respects, and it may an easy one, owing to the variety of evidence available, and the conflict of

be that several months will elapse be fore many details can be fitted into their place in chronological order, with due regard to their importance and, signi- ficance. Certainly na serious attempt can be made after a few hours study of this | | 9–What truth is there in the report enormous volume and its accompanying that at about 7.15 p.m. Admiral Beatty Bant, indicate the direction of this great charts and diagrams to do more than in- dicate generally some of the outstanding features of the battle as now revealed.

POINTS OF CONTROVERSY.

It may be said that controversy as to the Battle of Jutland has been maintained more or less continuously ever since the action was fought, with the result that number of uncertainties have assumed prominence in the public mind which these official documents were expected to remove. The extent to which these anti- cipation are fulfilled may be judged from

the inflow of German goods, a very differ application in accordance with the Army the following statement

ent compromise will be proposed.

Act.

He

1-What was the naval policy of the Cabinet when, in face of the undefeated German feet, it ordered the Expeditionary

sya as regards the export tax that it GREAT BRITAIN AND FRANCE Force to be transported to France and will prove impossible to control German exports through neutrals or to America.

SCEPTICISM IN FINANCIAL CIRCLES.

HOPES FOR THE FUTURE-

PABIS, January 29th.

Belgium, those transport operations to be subsequently supplemented by important military moverents further afield, which rendered 'the maintenance of the safety of this country's sea communications vital to the existence of the Empire

A Havns message says:*- LONDON, February 1st. At a dinner of the British Chamber of City financiers point out that foreign Commerce in Paris, its President (Sur-In what manner did the Admiralty exchanges and stock markets have not Edward Barclay), in a speech, stated that reacted as favourably is was expected France and Great Britain cannot exist upon the Allied agreement in regard to without one another. Once the present

or the Battle Flect thousand million marks in the fret: 11 opened the range less than a sea mile, months of 1920, as compared with only. covered a matter of ten minutes, and three hundred millions in 1919, then the Fleet again closed the enemy. Though many torpedoes were discharg ed by the Germans, no ship in the British battle line, upwards of seven and a half miles long, was hit.

made a signal to the Commander-in-Chief to the effect that if the van of the Battle

Flest followed him the enemy would be cut off i

In Admiral Beatty's despatch there is no mention of this signal, but it is referred to by Lord Jellicoe on page 336 of The Grand Fleet-1914-18." Captain Chatfield, of the Lion, Admiral Beatty's flagship, does not mention the signal

of

New companies were capitalized dur- ing the period under review to the extent - of one and a half thousand million marks as against 773 millions in the pre- vious year.

The following figures, culled from Dis flow of now capital (millions of marks omitted)

Metal industry attracted ... 1,364. Mining

Electrical Chemical"

JA

Industries connected with Food -

Supplies attracted Banks attracted:

771

663

586

511 1,067

The comment of the French newspapers may be summarized in this one question: "Has Germany the right to play the pro- fessional beggar and to plead economic and financial distress as just cause for less through Reuter.. refusing to pay her debts-French Wiro-

19-In these circumstances how did the enemy escape?

In the record of signals now publisher it is stated that Admiral Beatty sig nalled the Commander-in-Chief, by wireless, at 747 p.m., to the following effect : "Urgent Submit van battleships follow battle cruisers. · We 'can then ent off whole of enemy's battle fect." This message was received: in the Iron Duke at 7.54. From his des patch, it appears that Admiral Beatty lost touch with the enemy before this signal was despatched. After describ ing the firing upon enemy battleships from 7.14 onwards, he stated that "at 7.45 we lost sight of them?" He was again engaged, however, for a short time at 8.20, and again for six minutes between 8.99 and 9.28. The mist, how. ́ever, seriously interfered with effective.

nction, and Admiral Beatty afterwards. 13. What material damage did the saw nothing more of the High Sen enemy receive as the result of the Fleet.

action 1

The debentures would be based on the Garman reparations. There is a certain exchange obstacles were removed, busi.all the modern and eficient ships of the This signal from Admiral Beatty waS

collateral security engendered by loans abroad for extended periods.

amount of scepticism as to whether the terms can be enforced, and there are fears that Germany will pour out milliards of Mr. Booth pointed out that China was

fresh notes in order further to deprecise greatly increasing her manufacturing position. He expressed the opinion that the mark. There was another 20-mak Lancashire, particularly, will be faced rise yesterday, making 211 marks to the with strenuous competition there, and pound.

SATISFACTION OF FRENCH PRESS.

A Havas message says:---

:-IMTER.

eas between the two nations would be again sa brisk as before the war.

AMERICAN SOCIALIST'S CASE,

PRESIDENT WILSON'S STAND."'

WASHINGTON, January 31st. President Wilson Baa formally dis declared that Americatis did not fear

approved the recommendation of the trouble in the Pacific. They expect that

Attorney-General to commute the sen good judgment of statesmen in the

The Conference resulta appear on the tence on Eugene Deba, who was Socialist United States and Japan would work whole to be highly satisfactory to the candidate for the Presidency and is out the differences, which, at the worst, French Press, which is especially pleased undergoing ten years' imprisonment for were not essentially fundamental

IMPROVEMENT IN AMERICAN CONDITIONS.

WASHINGTON, February 1st,

ペン

monthly statement of the Federal

Reserve Board says that some plants

are employing many hands and have

resumed whole or part time running.

at the frustration of German endeavours violation of the Espionage Law.

to divide the Allies. The Entente Cordiale, according to the French, is stronger than ev67.,

M. BRIAND COMMUNICATES"

DECISIONS TO GERMANY,

A Hayas message says:-*-*

LATHE

WRANGEL'S TROOPS,

NOT MUTINY, BUT DISORDER

LONDON, January 31st. Reuter learns authoritatively that the report of the mutiny of General Wrangel's

M. Briand, as President of the Con- troops, cabled on January 18th, is without

A distinct improvement is reported inference, has sent the head of the German foundation. There was disorder on Janu some branches of textile industry, while delegation & letter stating the Conferary 12th, but it was immediately stopped preparations to put financing of exports sace's decisions. Regarding disarming, without bloodshed.

an a more satisfactory basis have laid the the letter says that the Allies, while foundations of improvement in the whole granting Germany new delays, hope that

export trade.

she realises the serious consequences which a refusal to carry out her oblige tions would entail.

GEORGIA'S RECOGNITION,

GREEKS IN ASIA MINOR. REPORTED SURRENDER OF 2,000 TURKS

Losos, January dist

OUTLOOK IN AUSTRALIA.

MataovRNI, February 1st.

The Greek Légation announces that Mr. Hughes, in a speech, denied that

The Supreme Council has granted the 2,000 armed Turks headed by Edhem Bey Australia was depressed. He said heavy export of primary products and an in request of Georgia's representative for have enzrendőred to the Greek Army in cresse of deposits in banks showed that the recognition of that nation, according Asia Minor.

Sule to Ze Temps. Australia was one of the most prosperous countries in the world.

POSITION IN CANADA.

OTTAWA, February 1st.

The Customs.

ceipts of Canada show an increase of seven million dollars

ten months.

NEW CORPORATION.

-RETURN OF SUBSCRIPTIONS.

Lonnor, February 1st. Bubscriptions for the recent fame of

Mr. Lloyd George, replying to Mr. Grattan Doyle in Parliament mid he was not aware that the Russian 1,000 rouble note (nominal value £10), the chief currency of the Soviet Government, and now of the face value of 9, con- tained the words, "Workers of the world

the Amalgamated Trading and Indus unite.?! In any event, he could not

imagine any business being transacted

"

On this matter no light is thrown, for no reference is made to the subject.

interpret the Cabinet's policy, and what influence did that interpretation have upon the orders issued to the Commander- in-Chief of the Grand Fleet, that force consisting of a concentration of practically the British Navy 1.

The documents shed little light on this matter, except in so far as a sen. tence in Lord Jellicoe's despatch of June 18th supplies a partial answer. After stating that the German tactics during the action were those which have always been anticipated, and for which provision has been made so far as is. possible in my battle orders," he dis cussed the danger arising from the enemy creating a prepared mine area and utilising his strength in sub- marines. The Commander-in-Chief added: It is unlikely that in fature operations we shall be so favoared in this respect, and the element of time will, therefore, be still more important. I foreshadowed in my letter of October 30th, 1814, No. 339/0034, in which their Jordchips expressed concurrence, AL. of November 7th, 1914, M.03177/13, the possibility of it being actually necessary purposely to delay bringing the Fleet to close action for some time on ecount of the possibilities which the Line and submarine give for preparing a trap on either of the Commander-in-Chief or of a large scale, and it should be under-Admiral Bexity of seeking a night stood that this possibility still exists action 1 and will be increased as the enemy gets stronger in submarines.”

Did Admiral Jellicoe know that the enemy would be in the North Sea on May 31

matt As to that, be-states in his despatch that he put to sea on the previous even- ing, in accordance with an Admiralty telegram. What the nature of that telegram was is not stated.A PAZA 4-What explanation is furnished of the reasons which led to the Battle Squadrons under the Commander-in-Chief being so far separated from the Battle Cruisers under Admiral Beatty 1

This is a matter. Lord Jellicoe dis cussed in his book, "The Grand Fleet, 1914-18, and it is now revealed that similar dispositions were made by Admiral Scheer with reference to his own battle cruisers and the hattle fleet under his immediate command. They were separated by about fifty miles when the action opened, but whereas the German battle crnisers? (Von Hipper) fell back on the main battle feet (Scheer), Admiral Beatty, in engaging the enemy, was compelled in the run south to increase the distance between himself and Admiral Jellicoe, to the north, appl

It is now established that Admiral Scheer took advantage of the darkness, the mist, and the smoke to steer to warda Horns Reet, passing unseen in the night behind the British Fleet. : Bá thus obtained the protection of the German minefields, the extent and loca- tion of which were unknown to the Grand Fleet.

The estimates of ships sunk which wore made 'by · Admiral · Jellicos Admiral Boatty Wers over

the mark owing to the conclusions, reached by the observing officers of the Grand Fleet, which were exaggerated. The action throughout was fought at long range, when observation was dif ficult. It now appears that only one German battleship, the Pommern," one -battle-cruiser, the Luisow, four light cruisers, and five destroyers were sunk. On the other hand, the injuries inflict- ed on the Germán fleet generally were far more serious than even Admiral Jellicoe and Admiral Beatty concluded. 14.-What moral damage was inflicted on the enemy 1

to the van," consisting of the King George F. and other vessels under Vice-

Jand Admiral Sir Martyn Jerram. In this officer's summary of reports from his squadron it is not mentioned, but it is stated that at 7.17 King George F. opened fire on leading enemy ship. Hange on sight. 12,800 yards; salvo fell short. Target was either leading Ger- nan battleship of Introw class with three destroyers on engaged side mak ing a smoke screen. Bimultaneously the Monarch, another ship of the squadron,

observed enemy

"ship "heavily on fire." It appears, there- fore, that just before the time when Admiral Beatty is said to have appealed to the van of the Battle Fleet to follow him in order to engage the enemy, the ran was fighting some of the German Fleet. Admiral Jellicos, received the sigual at 7:54, and at 8.10 he ordered "Second Battle Squadron (Jexrap) follow battle cruisers."

10. Was there any idea in the mind

Both these officers, no signals having

Apart from the material damage which the High Sear Fleet suffered, the moral injury which it sustained, when it narrowly escaped from anni hilation by a combination of luck and skill, was such that the crews rebelled when, shortly before the Armistice, it was decided in desperation to confront the Grand Fleet again, the operation being regarded in the nature of a for- lorn hope even by the senior” officera and sa an act of suicide by the-men. The rebellion in the navy, of which the seeds had been sown by compulsory measures to mao submarines, aprang into fame, and German ses power, de feated at Jutland, expired.

rased, reached the conclusion that go attempt ought to be made to engage the enemy under neceumrily uncertain night conditions. Admiral Beatty, in his despatch, remarked: “In view of the gathering darkness, and for other ren- loma, viz.!' (8) Our distance from the Battle Fleet; (b) the damaged condi

That summarised statement refects the tion of the battle-cruisers; (c) the light which these papers shed on the enemy being concentrated; (d) the manner in which the Battle of Jutland enemy being accompanied by numerous was fought and the extent to which the destroyers; (e) our strategical position enemy safered. The public now being such as to make it appear certain has the satisfaction of knowing that a that we should locate the enemy at day complete revelation has been made of all light under more favourable circum the material in the possession of the naval stances, I dil not consider it desirable sathorities.-Daily Telegraph.

A GERMAN CONFESSION.

proper to close the enemy battle dirt during the dark hours, -1,· therefore, concluded that I should be carrying out the Commander-in-Chief's wishes by turning the course of the fleet, reportThe first confession that the German ing to the Commander-in-Chief that feet did not win the Battle of Jutland had done so."* Admiral Jellicoe kis explained why he was also opposed to a night action.

HOPES OF A FURTHER BATTLE

is made by the Forsische Zeitung.

* Admiral · Scheer's secret report to the Kaiser has been published in mont Berlin papers but few venture on any comment.. 11-Was there confidence in the Grand The Vouische Zeitung, however, is quite Fleet that the action would be resumed in frank about the matter. the morning, since the British squadrons lay between the Germans and their bases

As the quotation already made from Admiral Beatty's despatch shows, that Jellicoe was of the same mind. 2

(Continued at foot of next column.)

What was the remif?" it asks. The German feet, was put out of condition to fight for ten weeks at least but a little blood-letting is nothing to the giant though fatal to the worker. adversary.”

trial Corporation are being returned with this country on the hans of pay- | Indefaligible, Queen Mary, and the conclusion he formed. Admiral Certainly the British Jouses werd greater

with 10 per cent intares

| ment- in "rouble notes.

UAE DIPLOYMENT OF THE BATTLENRIPS.

5.- any further evidence forthcoming as to the loss of the battle cruisers

vincible, together with the armoured ernisers Defence and Worrior