CABLES.
LATEST CABLES.
{THROUGH RYUTERĖS VAGENCY.)
RUSSIA'S INDUSTRIAL
EXHIBITION.
SYMBOL OF UNION AMONG
EASTERN NATIONS!
י
Moscow, August 19th, The opening of the Industrial Exhibi- tion of the Alliance of Soviet Republic, was in the nature of a solemn publie ceremony. There were many congratula tory perches and demonstration of enthusinaw
THE HONGKONG DAILY PRESS, TUESDAY, AUGUST 18, 1923
LATEST CABLES.
IRISH ELECTIONS.
THREE" HUNDRED AND EIGHTY. NOMINATIONS...
LONDON August · 19th. The nominations for the Irish Free State Elections show appirosïnutely 350 candidates.
FAR EASTERN CABLE NEWS."
[THROUGH REUTER'S AGENCY.)
NEWS OF MR. WEATHERBE'S ESCAPE CONTIRMED.
34
Periso, August 20th.
The news of Mr. Weatherbe's escape has been confirmed. He arrived at Pin- chuaa on August 13th and left there for
The Labourites are well represented, while there is a likelihood of some Minis-Tali on the 15th.. tees failing to gain veselection. Many Republican candidates are on the run, inchuling the chief Republican candidate for North Maya, Patrick Rutledge, who was acting"president for De Valera
Mr. Cosgravy has declared that the Two hundred wal fifty foreign firms are Government is endeavoring to arrest participating in the exhibition, which is Rutledge.
'
divided into one hundred and Afties There are several women enndidates, sections and occupies an open air site chiedy Repubñean. Many priests are covering two hundred acres on the riglit signing nomination papers for candidates "Junk of the Moskva adjoining Néskoutehni(of either of the principul parties.
Park, on the outskirts of the city.
M. Chieberin, who was loudly acclaine": ed, dwelt on the international importance | of the exhibition.
HARIJER CARLES..
MR. COSGRAVE'S CAMPAIGN,
LONDON. August 19th He was followed by M. "Krassin, who
emphasised the conciate
Mr. Cusgrave, this afternoon, wildressed which might be expected as a result of a meeting at Ennis, the scene of De Valera's arrest, but there was no sini
consequences
Russia's capacity for self-help.“
A the foreign representatives were present, and the Chinese delegatis pres sunted" a banner to the exhibition as a symbol of union among the Elstern Peoples.
The ceremony concluded with the sing-] ing of the International Hymn by the crowd, who were bare-headed.
נו
DISASTROUS FIRES IN
FRANCE.
WHOLE OF VAR COAST
DEVASTATED.
dent
Subsequently, Mr. Cusgrave few in n military neroplane to Carlow to address lix' constituents.
The fight, which was Mr. Cosgrave's
DISASTROUS STORM IN SEOUL. 300 DEAD: OVER 1000 MISSING.
Tokyo, August 20th. Advices from Seoul state that the storm mentioned on August 15th resulted in 346 persons being killed. Over a thousand are missing. and extensive damage has been done to houses and other property.
JAPANESE.. PREMIER TIĀL
HIS RESIGNATION, EXPECTED,
TOKYO, August 20th.
V
“COMPANY · MEETING.
THE P. AND O. BANKING CORPORATION,
"SUBSTANTIAL PROGRESS.
LORT INCHCAPE'S VIEWS,
The Third Ordinary Meeting of share holders of the F. and O. Banking Cor- poration, Limited, was held on July 13th at 1 Lendenball-street, E.C..
The Right Hon. Lord Inchcape, G.C.M.G, K.C.S.I., K.C.LE. (chairman), presided.
The Secretary (Mr. H.-J. Rolt) having read the notice convening the meeting and the auditors' report,
N
to
"LOCAL AND GENERAL
Our new premises in London are near ing completion, and are already partly
In The Times of a century ago, on July occupied. When they are finished, our 18th, 1923, it was recorded: Dr. Short has managers and staff will be comfortably related an anecdote of a stratagem of the housed, and there will be ample accom Dutch in their second voyage to China, modation for the public. We have by which they at first obtained their tos ceeded in accuring oficient managers and without disbursing money. They carried from home great stores of dried sage, and bartered it with the Chinose for tea receiving three or four pounds of tea för one of sage, but at length the Dutch coul not export a sufficient quantity of sige te supply their demand
good staff at mus various branches abroad, and you will, I am sure, join with me in acknowledging that the results which are reported to-day reflect credit on all our managers and staff at home and abroad. (Hear, hear.)
The board's policy is one of prudence, We intend to go cautiously, avoiding risks as far as possible, gradually working up what we hope will be a sound and fuera tive business, buikiing up our reserves The Chairnian sait: Gentlemen. The instead of distributing up to the hilt, and report and accounts have been in then this course I feel confident we shall Thanils of the shareholders for several
have the support of our shareholders. days, and I presume that it is your wish that they should be taken as read.
bank's concerns.
IMPORTANCE OF KUROPEAN SETTLEMENT.
The death is announced of the Rev. Dr.
Charks L. Noyes, Pastor of Yokoham's Union Church. Dr. Noyes was born in Ceylon in 1841, and when young was sent to Amorien where he entered Yale. Or dained in the Ministry of the Congre
The Hongkong correspondent of the Estern Times, one of the Shanghai ver- nacular papers, gives us the largest fish
The Continent of Europe before the gational Church, he worked for 10 years, war was Indin's best customer, and until and retired as Pastor Emeritus. Then h In the first place, I would like to refer things are settled there as we hope by agreed to take the place of Dr. Manchester to the loss the bank has sustained in the the influence of the Prime Minister and Pastor of the Yokohama Union Church
his Majesty's Goverument that may be death of two of its directors, Sir Richard within a reasonable time the trade . who had been recalled Home. Dr. Noyes Vassar Suith in August of last year, and Ludia and of this country and of the had been in Japan for less than a year. Sir Duncan Carmichael only a few days world generally will not get back to nor- ago. Both of them were valued colul conditions (Hear, heat.)
Tx my humble judgment this country. leagues, who took a deep interest in the will gain far more by a settled Europe
Sir Richard Yasaur than by anything in the way of repara
(Hear, hear.) I spent some months i India recently, and came away with u
nisgivings as to that country's position, or are in course of being effected in the Very considerable economics have been expenditure, and the budget for the cur rent year will balance, which has no been the ease for the previous five years. The credit of India has been restored. and I am not without hope that, barritzen would let it loose. This request war acme failure of the monsoon, the days af acceded to and the fish received his from: deficits are past..
dom-N". Daily News,
While his condition: is not considered Smith has beeri" muccceded by Lord, Sel/tions we are likely to get from Germany. story of the season. His story concerns
dangerous, the Premier (Viscount Korekiyo Takahishi) i- stated to be ex- tremely ill, and his resignation is believed to be imminent.
SOLUTION OF CHINA'S TROUBLES. LEAGUE OF NATIONS
指
APPEAL
TO
SUGGESTED.
LosDos, August 19th.
A Daily News" correspondent, Mr.
borne, who is a director of Lloyds Bank, of which Sir Richard was chairman...
Practically all items in the balance sheet show a sustantial expansion. The total balance-sheet Agures have risen from
approximately £13,000,000 to £2,500,000, a gratifying feature being the rise of £4,000,000 in the current, deposit, nd other necounts, which now stand at over £10,000,000, as against $6,316,000 a year ago.
VERY STRONG CASH POSITION,
יי
a"giant carp captured in the waters of the Colony, and he reports that the hab,
could speak. When asked, it said that the which weighed more than 100 catties,
political situation in Canton would be settled within three months if the fisher-
"
Lord Reading the Viceroy, with the aid of Lord Rawlinson, the Commander-in-
The NC, Dolly News referring to the Chief, is ruling India with a firm hand;
12 per cent... squeeze to which wo".. stops have been taken which, so far na one can see, will seenre the country from called attention on the part of the local tribes on our frontier, and at the same money changers in regard to our confer time will nunit of a very material reduc-currency says: The position is highly in- tion in the military expenditure.
fast, is regarded by the Clare electors / Wilton Harris, in an examination of the and nobody, I am sure, will eavil at the any serious attack by the barbarous
for the Irish Air Force.
GERMAN REPARATIONS.
POINCARE'S FRIENDLY TONE
PARIS, August 10th. A more frigently tone was manifested y Premier Poincare in a speech deliver Great forest fires have devastated theed at the unveiling of the war memorial
Paris, August 19th.
whole of the Yar Cogist, burning down several villages and enusing the inhabit... ́auts to flee:to Cannes,
1
Crops have been completely destroyed. and the Thermal Station, the Race Cour
at Mandelieu and the Caunes Golf Club have also been destroyed. One woman and two children have been biped to Death
TROOPS A FIRE FIGHTERS.
Troops were called out at Nier, Grass, Antibes and Straphael to light the flames, The fires were overcome eventually through the wind changing just as the Blames reached the cemetery on the outskirts of Mandelieu. FIRE IN CANADIAN HOTEL
GUESTS ESCAPE IN THEIR NIGHT CLOTHES.
a venturesome piece of excellent situation in China, suggests that she electioneering and a good advertisement should approach the League of Nations to bring about a solution of her trouble. He points out, that, as a member of the League of Nations Council and Assembly, she would be like a man who is commis sioning a firm, of which he himself is a shareholders, and director, to build his house. He points to the League's services in connection with Austria, and says, must be clear to Dr. Wellington. Keo that unless China can take the initiative in putting her own house in order, some form of foreign intervention is imminently threatened.
at Charleville,
Premier Poinenre declared that France would make every effort to bring her policy near that of all the Allies, and would always be ready to sock with them any alleviation that united action might bring to their sufferings.
Premier Poinenre said that nations, Exe individuals, realised the necessity for uniting. Great moral crises were
TROUBLES.
it
Our cash position is very strong indeed large liquid balances of nearly £5,000,000, representing, hout 50 per cent of our demand liabilities, which we have, thought it neresanry, even at the expense of pro- fits, to retain in these days of incert ainty.
will be glad to note is the item of bills Another feature which I am sure you discounted, which shows a substantial increase to over £4,500,000, and which includes such liquid assets as £2,030,000 in British and Indian Government Trea-
sury Bills,
Our securities, save for the permanent investment in the Allahabad Bank, are all British and Indian Government securi ties. The decrease in our advances to customers, which stand at £2,850,000, as pins 53,400,768 a year ago, reflects the depression in trade.
The year's operations have been carried
on in somewhat difficult circunstances. Trade has not been prosperous, rates for money have been low, and we have had our troubles, like all other, commercial undertakings. We have also been carry ing a load of new development, having opened in the first three years of our existence eight branches in the East, Che-which have involved quite substantial expenditure incidental to their opening, and cannot be expected at once to con- tribute their quota to the profts of the bank as a whole.
KIANGSU-CHREIANG
AGREEMENT CONCLUDED,
SHANGHAI, August 19th. The authorities in Kinagsu and better than uneasiness or convalescence, kian have concluded an agreement as and although union had now saved the lives of the Allies, it was still not useless.
Premier Poineare concluded by denying i that the Ruhr was responsible for unem. ployment in Great Britain, which had improved since inst year, and he depre- cated indulging in controversies like the legality of occupation; he preferred to' seck a practical solution of the problems
which all wore interested.
Tocosto, August 19th. Two persons were killed, seven are missin ing and twenty-five have been injured in a fire which destroyed the Wawa Hotel, Lake Anys, Muskoka, Ontario. Nearly all! „ of the three-hundred, guests fed in their
sight clothes.
FRANCO-RUSSIAN POLITICAL
INTERVIEW.
Moscow, August 10th. A French Senator, M. De Monti, has interviewed M. Chicherine. M. Kamenet and M. Krassiz.
WELSH STEEL AND `TIN PLATE INDUSTRY.
GRÖVESEND COMPANY PUROJASES
THREE PLANTS.
LONDON, August 10th.
Company at Gorseinon pear Swansea,
AUSTRALIAN TENNIS
PLAYERS.
LIKELY TO VISIT JAPAN.
BYDNEY, August 19th...
The secretary of the Australian Lawn Tennis Association says he believes that
THE PENALTY OF BEING GREAT.
The following Associated Press radio messages are taken from the Manila papers -
New York, August 3rd.-President and
follows
L-In compliance with the wishes of the people, the said authorities agree to avoid any political movement which may lead to military action.
II.-The authorities in the provinces agree to prevent outside armics from entering their provinces, and also to Hive each other their moral support.
III. The Commissioner of Foreign Affairs at Shanghai will be instructed to notify the Consuls to this effect, und to request them to prevent political questions which may lead to military action or disturb the public.
SMALL POX IN ENGLAND. DANGER OF ANTI-VACCINATION
PROPAGADA
THE 'RUPEZ
1:
I have been asked by one or two of our shareholders to make some reference to the rate of 28., which we have adopted for the valuation of our current rupee assets and liabilitica.
Some conventional valuation has to be adopted for the purpose of bringing to account pur assets and liabilities in East- ern currencies, and, really, it is in material what this conventional rate is
structive for us here in Shanghai who part of the educated elasses in India for
There are laudable aspirations on the labour under so great a depreciation that
the course of time. I feel perfectly cert suggest that, in spite of all regulations country, and though these may he met in 178 to the dollar. Yet our position seem n greater share in the Government of the yesterday the rate for local coppers was
tain that nothing will ever be allowed to interfere with the supremacy of the Bri- against export of currency, Hongkong is suffering from nothing more than the tish Raj in India. (Hear, hear.)
I have no fear as to the future of our normal operation of economic laws. In great Dependency:
4
I shall be very glad to answer any ques-quiry in Chinese sources brings forth the tions that the shareholders may desire to information that 100 Hongkong copper If there are no questions, I will move, equal of 200 Chinese cents in their pro put to me before I move the resolution. cents are in intrinsic value probably the
That the directora report and state-
ment of accounts for the twelve months ending March 31st, 1923, he and the same are hereby adopted..
Mr. A. R. Wright. C.B.E. D.L. I have much pleasure in seconding the motion.
The resolution was carried unanimously.
THE DIVIDEX D."
sent depreciated condition, and reskon ing the Hongkong and Chinese dollar as equal in value for all practical purposes, there will be seen to be a distinct profit necruing to those who can smuggle Hong- kong cents out of the Colony, and trade The Chairman: I beg to propose them as copper against Chinese centa That a dividend of 51 per cent. per There is no need to trouble about a annum, less income-tax at 4s. 13d., on 259,418 shares be and the same is hereby raunition, for those coppers have only to declared payable on July 20th, 1923, to be sent to the inint and be melted down the members who were on the out into Chinese currency to make it a profit- and Pambay registers of the Corporation, able concern. respectively, dr July 6th, 1923.
Ho say the Chinese here, The Right Hon. the Earl of Selborne, and they ought to know. And if their K.G., G.C.M.G., seconded the resolution.views are correct, the present specimens which was carried ananimously.
That the retiring directors-panely, their correct value until they stand ot The Chairman I beg to propose of Chinese coppers will not have reached Francis Alexander Johnston, Esq., James 200 to the dollar. Truly a deplorable Mackenzie, Esq., the Right Hon. the Earl state of affairs? of Selborne, K.G., G.C.M.G, M. M. S Gubbay, Esq., C.S.I. C.LE, he and the the Corporation." same are hereby re-elected directors of
Sir Montagu C. Turner seconded the so long as it is not applied to any assets motion, and it was unanimously adopted. and inbilities which arc affected by Mr. F. Ritchie: I beg to propose; exchange.
SIR ROGER KEYESS WAR SECRET.
SUNK...
"That Mesars. W. B. Peat and Co. be HOW THIRTEEN U-BOATS WERR So far as rupees are concerned, we re-elected auditors of the Corporation to adopted the 28. rate because at the time hold office until the next annual generalVice-Admiral. Sir, Loger Keyes revealed we came into existence that was the off-meeting, and that they be paid an annual
cial rate, and we have maintained it fee of £300,, for the audit of the Corporar secret regarding the fate of because it is still the official rate. But,tion's accounts."
of course, this rate is not the rate at Mr. F. White seconded the resolution, which we have converted our profit and and it was carried.
The Minister of Health in a speech in the loss items, which are brought to account at the rate ruling at the close of our House of Commons last month said:
EDT
of
our
serious 80.
to
the com-
YOTE OF THANKS.
German submarines at Folkestone Jast
mantir, when he was presented with the honorary freedom of the borough.
freeman.
The Mayor said that on the long, rolk of brave men connected with the ancient In 1917 there were only cases of small-financial year. So also have the rupee Mr. Norman McLeod Gentlemen, It town of Fölkestone no name would stand the Australian Council will be only too pox ip to 70 cases; and this year, up to ing on March 31st, as the auditors' vote of thanks to our chairman. The vir- than that of their newly-elected honorBEY country, but in 1922 there were securities heen valued at the rate prevail is my very pleasant duty to propose out with greater and more ambient glory June 16th, we have had already 955 cases. pleased to pecetle to the Japanese desire more than team to visit Japan on their for members of the Australian Davis Cup The disease has occasionally been mistaken report makes clear. In fact, all items in tues of Lord Inchcape are so well known
Sir Roger Keyes, in acknowledgment, the balance-sheet affected by exchange and world-wide that it is quite unneces but I do not think that ex- chicken-pox; way home.
are valued at the rate current on March sary for me to reiterate though I fully described the measures taken to defeat the perts and those who have had most experi 31st, and, indeed, the funds remitted to endorse them. It is quite possible that German submarines in the latter part of ence of the actual disease have øver been in. doubt recently as to what the true disease wards the purchase of our premises is some shareholders may have expected the war.
He states that in October, 1917, Bombay have been valued at the rate at substantial progress in the bank, but we was from which people have been suffering.
I think it is my duty to speak plainly which they were remitted, which was be who have any connection with India know German submarino was blown up in how difficult the time, under review has Waterford Harbour. In three weeks she on this matter. I consider that the situation low 18, 43.
Our permanent investment in the Allabeen and are antisfied to look with con- was raised, and most valuable informa is distinctly serious. Twenty years ago 75 per cent of infants born were vaccinated; habad Bank stands at the purchase price, fidence to the future. We have known tion was found in her, comprising details
vaccinated. to-day only 38 per cent. are
and this was remitted to India at about Lord Inchcape for a long time in his suc- as to how the German submarines got In appears to me there is a possibility 1. 5d. per rupee. The investment has cessful career, and we have no doubt that under or over the mine barrage cordes the
faced with the outbreak of not heen written up or written down under his guidance the F. and O. Bank Straits of Dovor Mrs. Cocliige arrived here, at 6.15 this an epidemic, which, worth not only be Despite th writincial tror leiten, wider, e quis, sectes fil fourth The Admiralty set to work, continued The Grovesend Steel and Tin Plate rode on a freight elevator in Graad gerous to health, and event very has held its own, and hoth as regards accord him a hearty vote of thanks. small craft, manned by 150 fishing Crew
has gone through, the Allahabad Bank I have therefore to ask that you will Sir Bogor, and established a long line of life, but which certainly would Central station to avoid the crowds tha
and injury on
many of whom came from Folkestone Washington, August 4th-President merce of satching the situation with close affiliated hank with branches all over.
staff and the advantage of having, an (Cheers.) Country.
Mr. J. H. Jamas, in seconding the The result was that 13 German sub have purchased the Dyffryn Steel and Tin Coolidge arom: at eight o'clock this morn
ing and began Friday's work as Chief attention. In the meantime, I desire to India, it has proved a valuable connec-motion, expressed appreciation of the marines were soon ing at the bottom Plato Works, the Mardy Tio Plate Works Executive. He ate his usual breuk ast-of emphasise ne strongly as I can that the tion for the, P., and G. Bank, rad, so far courtesy which he had invariably experianal beteren. Folkestone and
protection against small-box is as we can see, this will prove erca more caced at the hands of all the members of Cape Grisnez, egg
Previously the losses of English mer- mad the Dynevor Tin Plate Works. The cereal and coffee at the botel quite, nad one.
the staff, including the junior staff. then called for Secretary Edward T. vaccination, and that those who not only valuable in the future.
The refuse to be vaccinated themselves, but
resolution was deal involves £600,000,
animously adopt. chant vessels had amounted to 70,000 or Clark.
100,000 tons per week, but that was re- ed Friends of President Coolidge say he gratuitously advise other to follow their example are taking upon thomselves a very
The Chairman; I am very much obliged ducel by 5,000 or 6,000 tons per week.
After the ceremony at the Townhall, the as plain as an old shoe," while for grave responsibility, for which they will
to you for the kind way in which you have Mrs. Coolidge is reserved the title of being one day be called to account at the bar of
spoken of myself, and I take it that in Mayor and Corporation went in proces one of the best housewives of New Eng-public opinion asked what steps the with.
proposing a vote of thanks to me you sion to the war memorial, on which Siz land. She is a good cock, and it is
pre
also include iny colleagues, In regard to Roger Keyes laid a wrmth. dieted she will resume the practice of Ministry of Health propused to take to We propose to pay the same dividend our staff I am extremely gratified to hear doing the marketing and shopping white from the results of the folly of the people of as fand year-viz., 53 per cent, less in- that you find every courtes float it is the House, probably cooking some of the Gloucester. A doctor and s J.P. hnd issued come-tax but as the effective rate for you, and you may be sure that it is the a letter advising the people of Gloucester tax deduction is reduced to 48, 11d. by wish of the directors all through that that She is tail and graceful with black that the epidemie as chicken pox and reason of Colonial relict, this dividend should provail I am very much obliged
arging
them not to go to the hospital will cost £14,000 more than last year, to you all for coming here on this ex hair and blue eyes, is a good mixer provided. Bir Walter suggested that the leaving as in a position to place £25,000 tremely hot day. It is really very much ally, and plays the plane accompany advisability of retaining this gentleman as to reserve, thereby bringing that fand worse than it is in Bombay without the ing her two sons who play stringed instru- « magistrate ought to receive the attention up to £115,000, and to carry forward comforts.
of the Government.
The proceedings then terminated | £15,170, as against £14,042 a year ago.
The Grovesend Company will now own
Three stoolworks, fifty-four tin plate mills
mad twenty-two sheet milis.
BARLIER CABLES.
DOCKERS STRIKE ENDED.
LONDON, August 19th. The dockers' strike has ended, follow ang meetings of the strikers in Londen aleciding to resume work on Tuesday.
menus
་་་
President's favourite dishex
ments.
Sir Walter Preston
the rest
RESULT OF YEAR'S WORKING.
The result of the year's working shows profit of £139,388, which, together with the amount brought forward from last your of £14,042, gives £163,430 to be dealt
Speaking at Salt Lake City in June, President Harding declared that no event since the conclusion of the war has contributed so much towards putting the world back on the way to stabilisation and confidence in its Governments the United States debt settlement with Great Britain-ender,
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