1922-02-07 — Page 2

Page

THE HONGKONG DAILY- PRESS, TULEDAY, FEBRUARY 714, 1872.

THORNYCROPT

JOHN. I. THORNYOBOFT a 00., LIMITED.

BHIYBUILDERS AND ENGINEERS,

LONDON, SOSTHAMTION AND BLINGSTORE

Shanghai Ofice: 10, Kinkiang

Road.

THE AMOY BUND AND BOYCOTT CASE.

15 B.H.P. 30 B.H.P. 50) B.H.P. Engines quite recent years movement along the

in Stock

For quotation apply➡"

Summit

COLLAR

SHAPE 24

SHANGHAI OFFICE.

M

A skilfully cut droop to the square wings adds distinction to Summit shape 24.

Pre-eminently a collar for young men and men who stay young, it is correct for this season's dress wear, also for general wear.

Stacked in four depths, 2, 21 and 2 inches, also in Quarter sizes, ensuring a perfect fit.

MADE BY AUSTIN REED, LONDON, FOR

MACKINTOSH

& CO. LTD.

MEN'S WEAR SPECIALISTS

Alexandra Building

Des Voeux Road

Telephone 28

DOUGLAS & GRANT LTD.

KIRKCALDY, SCOTLAND

RICE MILLING

The largest and

most widely

gois Agents in South China e

MACHINERY

experienced makers

[In the world.

DODWELL & CO,, HONGKONG.

Obtainable From

BLACK

· ERKILANIL

LANE, CRAWFORD & CO.

HONGKONG CIGAR STORE TABAQUERIA FILIPINA

BRITISH CHINA TOBACCO STORE

AND

A. S. WATSON & CO., LTD.

ALBO

FICCADILLY

JAPAN'S FOREIGN TRADE.

PRICES MUST COME DOWN.".

IMPORTANT SPEECH BY GOVERNOR OF THE

DANK OF, JAPAN. -

be recovered. Exporta and imports, he

tributes to the maintenance of high prices This remarkable drop Mr. Inouya at- that if Japan is to have a future share for Japanese commodities, and he insisted the export business of the world then her producers must meet the situation aquarely and lower prices.

COMPANY MEETING. SHANGHAI LOAN AND INVESTMENT

COMPANY.

1,230,000, Tis. 570,000 was in rubber.

date.

INTIMATIONS'

NOTI GE

to sign on behalf of this Company front THE UNION TRADING CO. LTD. Hougkong, Lad Febuary, 1923.

NOTICE

[308-nked

WE HEREBY NOUFY that M

ERNEST W. BLACKMORE M.&C., ment of the Hongkong branch of our firm, ill

Sign per pro. from date, and will be seconded. by ME. UGLE

*

ETABLISSEMENTS BROSSARD MOPIN. Architects and Civil Engineers, Hongkong (518

OREDIT NATIONAL 1992 ISSUE OF NEW BEARER BONDS REDEEMABLE IN 10 YEARS FRS 500.00

sach bearing interest at the be of 6% per annum free of tax.

Bamburable at dokler's option as follows Qa Ist. February 1924 for Fr. 500,- On 1st..

1997 for: Frs, 507.50 On 1st.

1932 for Fr. 825. Price of Issue including 1st. coupon dus sa

FTS 489- Subscriptions received at BANQUE DE L'INDO CHINE, HONGKONG. -

534]

17

(BY AN OCCASIONAL CORRESPONDENT.). To an Amoy resident a perusal of the "papers that have appeared upon the

The annual meeting of the Shanghai MR. CHONKEY having resigned cas above topic shows that, the true cause of

Mr, Inouye, Governor of the Bank of Loan and Investment Co., Ltd, was held ths trouble has not been made clear and Japan in a speech last month at the last week, Mr. B. S. F. McBain presid in the interests of fair play the writer Toyko Clearing House, declared that the year's working shows a surplus of | ing. The Chairman said:-The result of would like to place what appears to himes in Japan must come down if the Tis. 174,4.67, including the amount of to be some facts suppressed or ignored activity of Japanesa› forelyn "trade lis to TS 62,044.74 brought forward from last Civil Engineer, has taken over the manage before the reading public. These tend to pointed out during the period of 1921, and this surplus your directors re show that blussers. Butterfield and Swife fell of Y.710,000,000 and 770,000,000 commend should be dealt with as follows: have been made the whipping bay for the respectively from that of 1920 and the To add to the reserve against fluctua British Consulate.

Since the opening of Amey and up to is Y430,000,000,"

balance against Japan at the present time,tions of investments, which now stands in the balance sheet 4 Tis, 30,000, a Ben front in face of the city and the

ward the balance of Ths. 24,429.87, further Tls. 180,000 thus. bringing up this Foreign Concession houses, was free and

difference between the nominal market reserve to Tla. 200,000, and to carry for usimpeded. About the year 1917, during

value of the Investments and Debentures This reserve does not moet the full one of the numerous revolutions, the opposing Chinese forces came close to

ut the end of the year and their full cost, Amoy, appearing on both sides of the harbour, and fears were entertained, or sale of raw, silk-at higher prices, Mr. You will remember that last year after Going into the question of the increased by sufficient in the end for the purpose. but I am inclined to think that it will rather the possibility had to be considerinouye stated that it would doubtlessly reviewing the history of the Company ed, that the city might become the actual halt the tendency of an excess of imports and the causes which led to its forma No prizes scens of aghting and inevitable looting. over exports for the first half of the year. tion I said that of the then total amount It was suggested that the Foreign settle But too much faith ought not to ment might be made a safety are and placed in the fact. For, he said, the silk of the investments and debentures of Tla 5th, February 1929 payable cash on application

be the opinion of a Commander of a British export for the first half of the year This year, of the total of Tis. 1,175,000, cruiser in port was sought. It is report would not exceed ¥.200,000,000, and this ed that he stated that unless means of was not greatly in advance of the ship-

about the same amount is in rubber, but access to this area were capable of being inent for the same period of 1921. the nominal market value of the same effectively closed he could not undertake that year Japan was compelled to face at the end of the year was Ts. 276,230 to protect the area. To effect this the decrease of Y.150,000,000 in her inter- British Consul required the election of national receivable accounts and had will be obvious that there is no great, BILLIARD

as against Tls. 429,389, so that I think it substantial walls at each end of the apply a large amount of speciu kept fear of the value going much lower." Settlement, from the edge of the Band abroad for the settling of the balance on Now besides this to the corner of the front end buildings

foreign trade.

special reserve where strong iron gates were placed; the

against fluctuations there is a general reserve of Tis. 75,000 which is more than THE VICTORIA RECREATION CLUB. ends of cross streets leading from the city to the bund were supplied with stout "We will have to do the same thing, auditors point out in their report, is in- OL SE to the Hon. Secretary on FRI-

enough to cover the Tls 50,000 which the

TANTRIES for the above CHAMPIONSHIP gateways For a considerable period

secured on the money invested in loans. gates were closed at nights and ocea

Last year you will remember that they sionally in the day-i.e., upon report of

gave the sum fires or robberies, etc., in order to keep

siderable improvement here. 192,000 as unsecured, thus showing a con-

of approximately Ti the Settlement from being over-run with sightseers or fleeing inhabitants. These measures, effective up to a point, passed more or less unnoticed during the period of unrest. But as conditions breame normal, the walls and gates and their occasional closing became objects of offence and aroused continual comment. It would have been wise course to have taken, and not an unreasonable one, viz., to have recognised that the walls had served their time, to have met the Author. ities in this spirit and to have permitted their removal-for certainly the small for eign community using the Settlement did not, desire their presence. However, this course was not taken. The right of the British Authorities to close the Settle. ment area was insisted upon and its re ecgnition demanded: au erection to meet a temporary emergency was made. to cover" permanent protection, so the sc story. runs. In a word, the new condof tions in the town and the spirit of the times were disregarded. Not, of course, in any spirit of ill-will but from a mistaken acase of right or of policy.

10.

In dealing with the future excess of imports over exports, he continued: and that is going to make the money market at home tight. It will likewise affect the exchange situation, and for sideration by bankers and financiers. At that reason should be given careful con- the beginning of the year of 1991 faza: cial and economic readjustment was pro ceeding.apace. of the British and American central bank Then came the lowering rates in May or June last. This gave situation in this country would soon be rome Japanese the idea that the ecocomic revived. They failed to see the difference between the conditions prevailing here and in England and the United States. ency of prices was checked and in many with the result that the downward bend- instances the prices of certain commodi the situation ended abruptly. ties went up and the re-adjustment of cate the second half of the year and with it the excess of imports over exports. The exchango banku began to feel the Pressure of shortage of funds abroad, the exchange tightened, and by December rates on call

stood above three

money,

Then

course such ratés placed obstacles

in the way of the healthy development of the economic and financial communi- ties of the country, and if one back starts to demand the payment of the call the rates soaring still higher. This con- loans to other banks it is bound to send dition is not sound and must be remedied. at once."

1)

It was at this period that Messrs Batterfeld and Swire found themselves in a position to re-erect the bridge (des troyed by storm a few years earlier) connecting their steamer hulk with the. Mr. Inouye, in conclusion, said that shore. They had a perfect right to do economy of consumption was the only Tracie called for it and market conway out of the present difficulty, and it ditions made the supply of the materials rested with the Government to begin the required possible. Here, however, was policy of retrenchment in expenditure. the heaven-sent opportunity for the local Speculation, looseness and extravagance hot-heads to intervene and most effec must be eliminated. Import must be cut tively have they done so. Now-a-days in down and economic re-adjustmert that Amoy the local officials do not rule, they would bring about lower costs of pro- correspond. The right-minded and peace.

duction, achieved. loving merchant keeps his own counsel. Knowing that the firm was being victim ised unjustly, but sympathising in a measure with the out-ery, he was given no" opportunity to exert his infinence in the cause of peace by any sign of com- promise on the part of the Consulate; he therefore holds his tongue.

JAPANESE

MANUFACTURES,

THE ERROR OF SUBSIDLES. "Government protection for industries should be abolished, and all Japanese manufacturing plants should be made to stand on their own resources. this policy is adopted Japan will in an Unless unmistakable way see the error of sub- sidies within the next three years."..

gathering at the Kojunsha Club by Mr The above warning was given to S. Muto, president of the Kanegafuchi Spinning Company. Japan's industry

able to pay no dividend this year, which Although it has been considered advis

you, it must be remembered that we have will undoubtedly be a disappointment to passed through a very bad year in the damage to the Company, and 1 think I history of Shanghai can fairly say that we shall start on our without much

Of course, the rubber position is still new financial year in a sound position. very depressing, but our shares are written down to a very low point and so we can afford to wait.

counts make the position to date fairly There is really very little for me to tell you as I think that the report and ac clear, and with regard to the future we shall have to be guided to a great extent by the course of events in Shanghai.

on or before February 28th, 1922, CHAMPIONSHIP OF THE

COLONY

-held under the auspices of

DAY, February 17th

· ព

Club on a Evening of the 17th to arrange con- All competitors are invited to stand at the ditions and draw for the various rounds:

R. C. WITCHELL," 841*

Hon. Secretary.. THE DAIRY FARM, IOE & COLD

Entrance Fee $2,03 to accompany entry.

STORAGE CO., LTD.

NOTICE IS HEREBY GIVEN that the February, to TUESDAY, the 28th February losed from WEDNESDAY, the ad cf Transfer Books of the Company will be

10 both days inclusive, during which perio no tanefers of thares of hazes can be registered

By Order of the Board of Directors, M. MANUK, Becretary.

The following resolutions were put to the mesting and carried.

That the report and accounts as pro-N scnted be passed.

ments

To carry forward ....

invest-

Tu

...

[337

HONGKONG HOTEL COMPANY LIMITED.

EXTRAORDINARY TOTICE IS HEREBY GIVEN that ap GENERAL will be held at the HUNGKONG HOTEL KEETING OF THE ABOVE COMPANY

(0)

That the balance of credit of profit and loss account be dealt with as follows: Pedder Street Victoris in the Colony of Hong- kong on WEDNESDAY the first day of To add to reserve against

February, 1828

1822, at coon for the purpose of Auctuations of

Considering and, it thought fit, pawing the. 150,000.00 following Resolutions as Extraordinary Resola 124,452-87 tons namely:-

the Authorised Capital of the (which is now $2,500,000 of 280,000 shares of the nominal value of $10 each-whereof 219,300 shares have been ismed) be increased from $2,500,000 consining as "aforesaid to $5,000 00 (consisting of 800 000 shares of the nominal value of $10 each) by the creation of

250,000 nominal value

T6. 174,422-67

Tweed by the directors to fill the vacancy That the appointment of Mr. J. K. on the Board caused by the death of Mr... W. 8. Jackson be confirmed.

That Mr. A J. Welch be re-elected a director of the Company.

That Messrs. Lowe, Bingham and Matthews be re-elected auditors for the ensuing year.

EXCITING GOLF IN SHANGHAI.“ CHAMPIONSHIP DECIDED AFTER TWO TIES.

"additional shares of the

"of $10 each ranking (subject, as here. inafter mentioned as from date of tallotment for divided and in all other "respecta pari pasta with the shares

in the Company's prizent Capital. (2) That 109,660 shares be offered (in the "proportion of one new share for every "compl-te number of two old shares held them respectively) to the persona "who on the date of the confirms of "his Resolution sa & Spe isi Resolution are registered in the Company's Share Register

as the bolders of the mid 219,-

300 shares at a premium of jer share "and so that on allotment the nominal amount due fa respect of such 19,660- "shares plus the said premium of $5 por "share shall be payable as follows:-- Amount pay. Amount pay.

sbla in respect of

ble in the nomiust the premium

respect of

on each

akare.

value of each ahero.

As to the foreshore or bund with which the bridge would connect, it can be frankly admitted that the section in

Seldom has golf been so interesting in point was reclaimed from the harbour

Shanghai as it was yesterday (says the and with Chinese labour and is Chinese soil. But control over it was by deed handed over to the Consul and Council

China New Year Cup, which to all in- the Shanghai Golf Club played off the N.C. Daily News of the ist inst) when on the main condition that it was not

tents and purposes carries with it the to be built upon nor right of movement upon it obstructed. It is manifest that, to the past had developed owing to the

Race Course Championship. There were situated in front of concession or settle cheapness of labour and the working of many entries for the event, and in view ment property, no one could be allowed long hours," he said and it can con- of the state of the course it was believed Date of to deprive seafront residents and firms of tinue so to develop in the future, pro- that any of the longer handicap men who Payment their sea-frontage rights. The whole ded manufacturers get away from the had entered might carry it off. The bund, and the streets of the Settlement barmful practice of secking Government weather was bitterly cold, becoming more are policed and kept in order under the aid and protection."?

so in the afternoon, while the links were Counsul as chairman, and the cost met port trade by keeping up the rate ex- British Municipal Council, with the Ho deplored the prevention of an imina thawing condition, slippery under 16th March. 159 6 by taxes levied on land-owners.

foot and containing many bad lies. The 18th Augt 1922 $1 the British Bag has a right to be flown, to outsiders."

That change to where it was disadvantageous Arena were worst of all, for they became as it is fown under similar conditions would work evil and finally result in the many of them, rendering putting difficult. This practice, he said, soft that heel-marks soon showed on clsewhere in China, is surely indiaput outflow of gold from Japan.

The view that the longer handicap play, able: Any opposition to this is in the

ers stood an excellent chance was not nature of a quibble; the real opposition

borne out by the day's play, for by 4 p.m. it was announced that J. B. Farrier and the Rev. W. P. Roberts had tied for the 30 holes. It was then decided to play off another nine holes between the two, competitors agreed that the first bole wor and once more a tie resulted. Then the

should decide the match, and Roberta there and then won.

is to the walls and gate.

MOTORING ACCIDENT AT GIBRALTAR.

WELL-KNOWN SHANGHAI FAMILY LOSES TWO DAUGHTERS.

MYE COMFORT

15th Margh 1823 84

In justice to the leaders under whom the walls were erected it is right to point out that the protection afforded by them, sa well by the presence of foreigners ro sident on the Kulangsu Island settlement was freely availed of by Amoy Chinese during those troubious days-persone and property found refuge on the Amoy gram was yesterday received in Shanghai We much regret to report that a tele British Concession or Settlement and on from, Mr. Molloy in Sydney announcing the opposite island. But the protection the very sad news that Dr. Moss, his thus afforded by the British or Foreign wile nee Mary Molloy, and her sister Roga means better health and better resulta flag in men of trouble is forgotten in Molloy had all been killed as times of peaco; and, as with extra result of a motor accident at Gibraltar.

the from your work, and if your eyes territoriality, so with the Amoy Conces The deepest sympathies of their friends glasses you have careful and expert require sion and its flag, the cry is "away with in China will go out to the relatives of examination in atting the proper corres it and also with its representative, the the deceased, more especially to Mr. and tion. Eye comfort requires also just so Consul.....

To most of the Amoy residents the Moss and Ken Molloy), who are now re- Mrs. Molloy (father and mother of Mrs.

expert care in the manufacture and matter is one for compromise, which rident in Australia, and to Mrs. H. N. adjustment of your glasses. You will should be possible without in any way Olsen, who is thus the only surviving and it worth while to ponault a reliable to injuring British interests or prestige. The member of their family,

FL

12

$5

Tota

110

$15 "and further that until such time as the "said 109,650 abazes shall be fully paid. Map they sbail, vis a vis the said 219,300

dividend only rank for

in, roportion to the ratio borne by the

up thereon to the fall value ($10) thereof, nåd that any of the said 109,850 shares which "shall not be taken up by the Umpany *hareholders in manner aforesaid "be disposed of in such manner, as the pany Board of Directors shall.

ft

8) That the Ealance of the shares con- stituting the Company's unissted Capital be issued at such time or times, is such manner and upon such terms. and conditions la every respect as the

Board of Directors my

(+). That no Share' older shall be entitled

o any offer of a fraction of an addition "al share in respect of any old share held "by him" Should the

above Resolutions to p

·payed by they will be submitted

Lorol Resolutions to s

HOTEL Yedder Stret aforesaid on FRI-

orax of a settlement now will lie in proD. Lovel Moss was formerly in Chin firm, devoted exclusively to optical work; BECOND EXTRAORDINARY GENERAL viding compensation for the firm that with H. M. Navy and at the time of his over ten years experience in the Colony, MEETING to be hold at the HONGKUNG has been so cruelly and unjustly held up death had retired from the Navy and was You will find no better equipment any DAY the 17th day of February 1922 at 11 a.m. to objurgation by word and by deed.

practising as an eye cpecialist at Algiers. where this in the ofice and factory of for the purpose of considering and, if thought from Australia on a visit to her sister

Misa Rons Molloy had only just arrived The Hongkong Optical Co., puccessors to he was recently T Shanghai with her

fit, confirming such

Dated this" parents and returned with them to [Sydney last spring---Q, Daig 2man,

It is believed that the above is a fair representation of the case and the writer trusts that it contains no mis-statements or unjust commenta

Amoy, January, 1922

Clack Manufacturing and B- racting Opticians, located in 63, Queen's Road Central-ABYT,

Bool tions accom

2491

By Order of the Board.

Special

Day of Jkituary, 122. E. N. BEAUREPAIRE,

Bacretary.