1921-08-09 — Page 2

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THE HONGKONG DAILY PRESS, «TUESDAY, AUGUST 9xx, 1981.

THORNYCROFT

JOHN L THORNYCHOFT & CO., LIMITED,

SHIPBUILDER AND ENGINENKA,

LONDON, SOUTHAMP-ON AND Basisdetoka.

Shanghai Office: 10, Kiukiang Road,

15 B.H.P. 30 B.H.P. 50 B.H.P. Engines

For quotation apply-

in Stock

SHANGHAI OFFICE.

MACKINTOSH

& Co., Ltd.

We are offering the whole of our Stock of Men's Bathing Salts for a few days only.

Less 15%%

O' ON MARKED PRICE.

We have an up-to-date and Large Assortment of Men's Bathing Suits in one piece style Ranging from $4.00 Sult to $30.00 Sult in plain and

Fancy Colours. Sizes from 32 to 46,

Just Received New Stock Bathing Slippers.

$1.25

pair.

Men's Wear Specialists.

16, Des Vaux Road,

BY

APPOINTMENT

Phone 29.

Apollinaris

NATURAL MINERAL WATER.

Since its foundation in 1672, the Apollinaris business has

ALWAYS BEEN BRITISH-OWNED.

THE APOLLINARIS CO. LTD.

Obtainable in Quarte, Pints & Splits ät

HONGKONG HOTEL,

REPULSE BAY HOTEL.

Sold by

WING ON CO.

SINCERE CO.

EMPRESS STORE, KOWLOON,' and all the Leading Clubs & Stores.

· LANE, CRAWFORD & Co.

H

NOTICE.

798

MESSRS. GILLARD & CO.

HAVE GREAT PLEASURE.

in informing the

PUBLIC

that they have just received:

THE WARRANT OF APPOINTMENT

AB

SAUCE PICKLE MAKERS

TO

H.R.H. THE PRINCE OF WALES THESE SAUCES and PICKLES

May be obtained from

LANE, CRAWFORD & CO.

and

All other Stores

·SHOULD THEY BE UNOBTAINABLE FROM YOUR DEALER, PLEASE COMMUNICATE WITH

DONNELLY & WHYTE,

Tat. 636.

995

"SHELL TRANSPORT AND TRADING CO. LTD. YEAR OF EXCEPTIONAL

PROSPERITY. INCREASE OF CAPITAL APPROVED. The annual general meeting of the "Shell". Transport and Trading Co., Ltd., was held at Winchester House, Old Broad Street, E.C., on July 4th, the Hon. Walter H. Samuel, M.O, presid

ing.

CHINA AND WASHINGTON

CONFERENCE.

JAPAN AND THE CONFERENCE NEW AMERICAN STATEMENT OF TOKYO FOREIGN

OFFICE.

MINISTER

TO CHINA.

PROTEST BY A. CANTONESE.

The CHAIRMAN said: 1 think I may be Pacific Conference; but as he is the ascertain the accussed, requested thalip himself, the most prominent member

in

is

course, especially in view of the import ance of the Pacific Conference to China, the Feking Government, following the precedent of the Chinese Delegation to the Versailles Peace Conference,

persuade the South- endeavouring to

to co-operate with Western leaders Peking in the selection of a Chinese delegation to Washington whose mem bers will represent both North and South.

At a luncheon held at the Bankers ...

WHO WILL REPRESENT CHINA 1

TOKYO, July 29th. Dr. Ma Soo, who we believe is the WILL IT RE DR. WỤ TING FANG?

In response to the proposition of the agent of the Canton Government in New The Poking correspondent of the American Government for the opening of York. publiabed the following statement on it being announced that Dr. Schür Asiatic News Agency, writing under & Conference to discuss the question of date July 30th, said:-It is reported is the Limitation of Armaments! the Japan man had been appointed to sindred Mr.

expressed

Crane as the American Minister to Chinese official circles that for certain eso Government promptly

China:- reasons, Dr. Wellington Koo, Minister their willingness to participate in such As to the sugges- tion that the Paciße and Far Eastern A more flagrant insult could hardly to London, refuses to accept the appoint a Conference.

should be considered at be offered to our Government than the went of Chivess delegate to the coming problems

Dr... Wu Ting-fang the same time, the Government, feeling appointment of Dr. Jacob Gould Schur The Secretary, Mr. E. A. Smith-Pacific Conference. Newse, having read the notice convening is undoubtedly the best qualified Chinose it more expedient, in order to facilitate man, former president of Cornell Uni

diplomat "to represent China in the the success of the Conference, to first versity, as American Minister at Feking...

and nature of the Dr. Schurman was, next to Mr. Vander- the meeting. allowed to congratulate myself on being Foreign Minister of the Canton Govern-problems to be

grimage to Japan a year ago, at the ex able to come before you for the first ment, it will raise the question whether American Government to inform them of that American party that made a pil- united country. Reports of its views in that respect.'

After a frank exchange of views on the pense of the Japanese Government, and time as your chairman with much an China is eminently satisfactory" showing, and I from Canton indicate that Dr. Sun

and the American people about the firm foundation that Washington think, at this early stage of our pro-Yat-sen favours the despatch of a subject between the Japanese Ambassador which returned to inform the america credings, I should take the opportunity separate repabrican delegation to Wash at of congratulating our late chairman, to ington: but as a united front is required Authorities, the following communica, existed for all Japanese claims in matters concerning foreign inter tion of the American Government was China Proper, Manchuria. Mongolia and

Charge whom so much. of this prosperity is due,

in New York on Wednesday, July 14th. on the great honour conferred on him by

conveyed to the Japanese Government on Siberia d'Affaires at Tokyo:- his Majesty the King, which we all hope

July 3rd by the American

The Government of the United States 1920, at which Mr. Lamont presided, to he may be long spared to enjoy.

deeply appreciates the readiness of the discuss the United States and the Far ac East Dr. Schurman was the chief speak- (Applause.)

Imperial Japanese Government to cept the invitation to attend the Coa-er. In his address on this occasion h ference on the limitation of armaments defended the Japanese in the matter of The Secretary of State of the United their right to enter the United States

ownership of States, in the course of informal con and thair

American dis Versations with His Excellency, the Im Caifornia, stating that of property in porial Japanese Ambassarlar at Wash-crimination against the Japanese was ington, has expressed the hope that the bound to provoko ill feeling and resent

Schurman also declared" Imperial Government would not pressment."

"Japan was overpopulated" ( its inquiry as to the nature and scope that of the Pacifc and Far Eastern prob statement now admitted by the Japanese lems to be discussed at the proposed Government to be untrue), and urged Conference in view of the fact that it that the Japanese be permitted to emigrate is desirable that the full acceptance of to the Asiatic mainland. This shows that the invitation of the Americas Govern Dr. Schurman, far from being prepared ment leave this matter open for adjust to protect American rights in Manchuria, ment in the precise agenda to bo Mongolia, Shantung and Siberia, has already committed himself to a policy of The Secretary of State is willing to permitting Japanese domination and He parti- proceed with exchanges of opinion re-sovereignty in these places. garding the agenda prior to the meetcularly urged Japanese rights in Man ing of the Conference. He considers it charia because he stated that it was neces ipadvisable however at the present sary for the Japanese Government to moment to haimper the programme and protect the lives and property in this in particular to delay the arrange Chinese province in consequence of the ments for the Conference pending an weakness and inefficiency of the Chinese Government." In another place in his agreement regarding this matter. Accordingly the Japanese Government, adress he declared," China's Government by sending the following reply to the is notoriously weak: this fact, in s American Government on July 26th. opinion, justifying the Japanese military

to terests in China. through the American Chargé d'Affaires acting with the Japanese industrial at Tokyo, expressed their proposed participate in the

It is possible that President Harding "Interl

time and Secretary of State Hughes expect. Conference, stating at the same

our" Government to accept as a satisfac. their views in regard to the nature and

tary Minister from the United States 4 The Japanese Government have taken man who has been denouncing or belittl note of the contents of the American ing it in his public addresses in the Memorandum of July 93rd, received United States during the past year?

American Charge through the

The Canton correspondent of the same News Agency writes:-

To turn to the figures of the balance sheet. You will see that the balance to the credit of profit and loss was no less timn £8,870,012. This agure included £1,942,691 brought forward, and you will abserve the present carry forward is in- creased to over £2,000,000. The year under review. was one of great prosperity in the oil trade, and your directors feel

It is reported from the Presidential no hesitation in declaring a dividend of 33 per cent., free of tax, as for several Office that the South-Western Govern During the year we ment is sending. Dr. Wu Ting-fang to previous years. gave shareholders an opportunity of the Pacific Conference in Washington to Laking one new share at par for every represent the Republic of China in But another re- two held, bringing up the ordinary company with representatives from the capital issued to £10,321,00 out of an Peking Government.

In port says that the real mission af Dr. authorised capital of $20,000,000. due course I shall address you again as Wu, who will be accompanied to the an extraordinary general meeting, ask- United States by his son, Dr. C. C. ing for authority to increase this amount Wa, former, Councillor of the Waichino to £30,000,000. Let me say, at once that pu, and now vice-Minister, for Foreign there is no intention whatever of making Affairs in Canton, is to persuade the an immediate issue of these shares. The State Department to withdraw American whole policy of the company in the past recognition of the Peking Government on the ground that it is not represen- has been to have a large authorised re- serve of sharts available for issue in pay-tafire of the will of the Chinese people. ment for properties or as otherwise reIt is still uncertain whether the veteran quired. Some of our best investments have been acquired in this way, and we wish to be in a position to continue this policy as and when necessary.

INACCURATE RUMOVES.

old Chinese diplomat will accept this mission which; if it be carried out, will do considerable harm to the Chinese cause in the coming Pacific Conference

shortly placed on

the market Shell,

arrived at Inter.

At this stage I would refer to the many about this company's intentions, Tum-

our advisera bave given great thought, ours as inaccurate as they are numerous. I have from time to time received letters and care. I hope to be able to report from indignant shareholders asking why next year that it has met with success they are not informed of these mythical in no way inferior to that achieved by matters, and misking other complaints on the motor spirit. The group has also the same line.", I can only say it has under control over a million tons of ship- not been, and I hope never will be, the ping, and you will be pleased to hear policy of this company to confirm. deny, that it is all employed in the carriage ur correct rumours of this nature. There of our products. Production has been have been all sorts of guesses at our satisfactory on the whole, though hara dividend, and it was to stop this and pered by ill-considered legislation in put our shareholders out of suspense many countries, of which Roumania is, that we declared our dividend somewhat perhaps, the most striking example. earlier than usual. I would, however. The Government of that country imposed warn you that we may not always be an export tax and other restrictions, able to do this. It is greatly to be re-which had the result of curtailing ex gretted that oil, once a mere article of port, so that a large part of the Ruman- commerte, has now become a politicallan production failed to find a market bone of contention and a cause of inter- whed prices were good. Our policy of national jealousy. We were, if I may supplying every market from the most say so, quite happy and quite capable favourable source, geographically speak of looking after ourselves in commercial ing, has been eminently justified, and, rivalry. To-day, bowever, every govern-it is not our fault that some of our com ment in the world seem to want to petitors who preferred to base their meddle in the oil business. It is some supply on one course of production alone, now complain that they have what doubtful to me how much they are should actuated by the very real advantages found themselves deprived of the advan- accruing to the possessor of oil as motive tages ever accruing to such a policy power, and how much by a desire to reap the financial results which are com monly assumed to be the reward of such possession.

rumours which always seem to crop up imbricating oil, to the quality of which scope of the problems to be discussed:

"PAYMENTS IN TAXATION.

MEXICAN INTERESTS... Shareholders in all companies having Mexican interests have, of late, been much exercised by the reports of falling production in that country. The appear- Every government is seeking money, ance of san water in Mexican wells after and, instead of asking themselves what a certain time is no new phenomenon, the Mexican taxation can be borne with least injury and the companies with which we are to the industrial welfare of the nation, associated-particularly they are apt to ask what is the maximum Eagle-are fully compensated by the amount of money they can extort, It enormous reserve of proved but un- is very difficult to give you exact figures, developed territories still in hand. The bat it is certain that the group of com- fallacy of these reports which would panies of which your company is a part appear to be inspired is sufficiently. paid last year in direct taxation in proved by the unprecedented fall in the all countries between £10,000,000 and price of Mexican crude oil due to over- £12,000,000 sterling this apart from any production. I should like to be able to further taxation of income derived from say the same of Egypt, where the pro- them by their shareholders and import duction of the Anglo-Egyptian Oil Co. taxes on oil products. I may further say has fallen off considerably. No satisfac- that the total direct taxation paid by tory reserve outside Hurghada bas yet. the group to the group to the British been located, although we have hopes of Treasury was something over £4,000,000 the productivity of the present field. sterling. I venture to doubt whether any Our interests in America cpntinue to in- nationalisation of the oil industry could, crease, and have given very satisfactory against or would, produce such financial results results. Our fields in Oklahoma pro- to the Government nationalising it. As daced 3,000,000 barrels,

a

I said before, 1920 was a year of excep- 2800,000 in 1910; our pipelines carried tional prosperity, and I suppose you are fur larger quantities, and our retning all anxious to hear whether your dirce capacity was considerably increased. We tors are knowledge that prices have have many other irons in the fire, to fallen heavily during the past few which it would be premature to refer at months; that silver, which has a great the present stage. effect on our return, selling as much as we do in the Eust, has also fallen, and that the burden of taxation is ever in creasing la the past we have always been able to counter-balance" adverse trade conditions by increased business,

Sir Henri W. A. Deterding, K.B.E., and we hope to obtain this increased business from the results of the very seconded the resolution, which large sums.we have invested in our busi- carried unanimously. ness in the last few years, the benefits of which are only just beginning to the

apparent.

MARKET EXPANSION.

capital-cost-involved in such expansion,

it is a matter of congratulation that we

d'Affaires, in reply to the Japanese

Memorandum of July 13th on the sub

ject

of a Conference on the Limitation

of Arnaments to be held at Washing-MINING RIGHTS IN KWANG-

ton.

It has been brought to the knowledge

of the Japaneey Government that the

TUNG.

Government of the United States. is PENING GOVERNMENT AND THE

that

CASSEL CONCESSION.

willing to proceed with exchanges of opinion regarding the agenda prior to the meeting of the Conference and that it considers it advisable to adjust in

agends the "nature and scope the Pacific and Far Eastern questions the Canton merchants and residents of to be discussed at the proposed Coster-Shanghai concerning the granting of ence. The Japanese Government, on mining rights to a British Proprietory that understanding, are happy to bo Syndicate of Hongkong in twenty dis- able to inform the American Goverutricts of Kwangtung by the former ment that it is their intention gladly Kwangsi Government is Canton, the to accept an invitation for a Confer Peking Government says that as this is cace which shall embrace the discussion contrary to the repeated declarations. of the Pacific and Far Eastern quesot, the Government against the granting tions.

of mining and other rights to foreigners. The Japanese Government have been in any of the provinces, whether they be made aware through the communica

autonomous or under the control of the tions and the published statement of of the American Government and th Central Government, the request of the British Legation for official recognition conversations between the Secretary of and registration has been declined. The State and Baron Shidehara that the one million dollars deposited with the proposition of the American Govern. Canton administration by the said ment to discuss the Pacific and Far British merchants are to be refunded, in Eastern problems is based on the close

The Asiatic News Agency states:- of In reply to the petition of enquiry from

I would conclude by expressing my per- A sonal opinion that, great as our progress has been in the past, it has by no means reached its height. I have much pica- sure in moving the adoption of the re por and balance sheet.

the

The

bearing they have on the question of accordance with the agreement.

Lipitation of Armaments which is present Kuomingtang administration in the

and principal aim of the Canton also refuses to recognize the cou therefore the cession granted by the Kwangsi lenders Conference, and. is to reach a common understanding approval of the Kwangtung people." main object of discussing these problems in Kwangtung without the consent of in regard to general principles and policies in the Pacife and the Far to the Agreement, was $100,000.-ED.]

Desiring, as they do, to con-

tribute to the establishment of an en-

during peace and to the advancement

The amount of the deposit, according

1

of human welfare, the Japanese Gar- JAVA'S TRADE PROSPECTS. ernment earnestly hope that, the pro- posed Conference may attain the ex- pected results and their ideals may theroby be brought nearer to realisa

tion.

AN OPTIMISTIC BANK PRESIDENT.

The annual report of the President of the Java Bank says that the general economic situation in the Netherlands Indies is not brilliant but there is no question of an economic collapse. normal demand for Indian products will return as soon as normal world-condi The conditions of trade tions return.

The

In order to ensure the success of the the Japanese Govern ment deem it advisable that the agenda Conference, thereof should be arranged in accord ance with the main object of the dis cussions as above defined, and that introduction therein of problems auch as áru of sole concern to certain parti.. industries and agriculture in the Dutch cular Powers or such matters as may Indies need not give reason for any great be regarded as accomplished facts anxiety for the future. The position of should be scrupulously avoided.

DELINQUENT YOKOHAMA

MERCHANT.

the Java Bank and the mutual co-opera- tion between other banks in the Dutch of the Dutch Indies will be overcome Indies is a guarantee that the difficulties earlier than elsewhere. The Dutch Indies is Bot standing on the eve of an economic. downfall.. The Java Bank dividend is 35

It appears, says the Japan Gazette, there is very little prospect of the law officials in Japan getting hold of Robert per cent. Sherower, formerly in business at Toko- was hama, who suddenly left for America

recently, leaving debte to the tune of REALLY GOOD SPECTACLES The retiring directors were re-elected, Y.300,000.

Mr. H. Nakamura, a local lawyer ne are such a comfort to tired or strained eyes that the appointment of new directors was confirmed and the auditors were re-ap-sociated with the case, states that the their value cannot be over-estimated. If your Commercial Treaty between Japan and pointed...

A cordial vote of thanks was given America has no claust bringing Sherower's eyes need glasses, they should have the best you can get. That means (1) careful and expert In order to obtain our share in the to the chairman and directors, and it misdeeds within the Treaty permitting of ever-increasing consumption of oil pro was resolved that the remuneration of extradition, the three crimes stipulated

consigned to

others. ducts, we have had to expand our market £10,000 at present given to the board being murder, forgery and theft of articles examination; (2) precision in the making: (3) All the office furniture, save that seized adjustment to a nicety; (4) the best of materials. ing facilities, In view of the enormous should be doubled.

At an extraordinary general meeting by the Municipal Authorites for taxes suction a few days ago as the result of had a pre-war zucleus for such organi the following resolution was passed un-amounting to Y1,000, was sold by public All the above, the Hongkong Optical Co., sation. This has made the completed animously:

Refracting opticians the most competent optical payment cost of our existing facilities for less. That the capital of the company be a consultation between the creditors, the Sucoessers to Clark & Co., Manufacturing &

The proceda will be used in than half of what it would cost to increased to dis,000,000 by the Creation Proceeds amounting to Y1,500, duplicate them to-day. I am glad to say of 10,000,000 additional ordinary shares of various expanses incurred in connçet-establishment in South Chine, located in 53,

The office has been that the Shell brand of petrol main of £1 each, and that the board bo tion with the case. tains its deservedly high reputation in authorised to iasto such shares at such closed and six clerks who had remained Queen's Road Central, offer you. Testing the this market and that consumption con- times, and upos such terms and condi- with the firm after the propretor's sud-right and fitting glasses is their exclusive. tinues to be satisfactory. There will be tions and for such consideration as they den departure joined the ranks of the

unemployed. (Continued at foot of next column.) wany from time to time determing."

barizten-ADVI.

1