1923-10-11 — Page 7

CABLE S.

LATEST CABLES, Erdkocou AKUTER'S AGENCY.]

IMPERIAL CONFERENCE. "GOVERNMENT'S PREFERENCE

PROPOSALS ANNOUNCED.

and as. 41

THE HONGKONG DAILY

PRESS, THURSDAY, OCTOBER · LITH,

RESUMPTION OF WORK IN FAR EASTERN CABLE

THE RUHR.

DEMANDS BY THE INDUSTRIALISTS

"

the!

Ton

NEWS.

__(THROCON ABUFER'S' AGENCY.]

"RECONSTRUCTION WORK ***

IN

JAPAN

ORDERS FOR GREAT BRITAIN,

LONDON. October 9th

THE REPARATION, NOTES.

ESSENTIALS OF THE PROBLEM,

The most complete plån for a settle.

BRITISH PROPOSALS, This plan, after their rejection of which the French and Belgians occupied the Buhr, proposed :—2

HEPARATIONS.

With the publication of the Belgian -BERLIN, -October-9th.--

-Noto-it-becomes-possible-to-siit out el

A Kroup uf Ruhr

the considerable proportion of controver- industrialists,

sial matter contained in the diplomatic headed by Herr Stianes, who inter;

Notes and other documents published this viewed General Degoutte, has sub

year on the reparations problem the con- Jasnos, October 9th)

miceri to the Government of

struction statements and proposals--made "The Government's proferoner plopas Reich. The inflowing tematuis z

}asswk#Minophnhii€368nmepཝ announced by Sir Lloyd Greats are pensation for the coal confccatis sinen vial Attache, in Japan, buldressing the cerned upon which farther negotiation) ̈ax-fatties-Empire-zrown dried be the Ruhr oripation and the forcibly Federation of British Industries on the might be based.

raisina. plugs and curranis will be ad- levied com tax, abolition of the coal tax subject of Japanese reconstruction, said tent of the whole problem, inchiding the mitted duty freeta now duty of tô, ôd in the Ruhr, a guirantee that all 'Fature the loss was not irreparable, since Allies' war debts to each other, was that por, cwt, will be imposeti on foreign" dtied | deliveries of regstration coal be placed Japan's credit stood as high as 'ever.bmitted by Mr. Ronar Law to the Paris

Conference on January 2nd of this year. fruit like appiles, hears and peaches, and in their hands, preferential treatment in There was no reason why a good share Jonign preserved fruits: the Ruhr in the supply of raw materials of orders for steel, work, and galvanished Empiregrown, preserved fruits will bearl foodstuffs, authority for the indus- sheet should not coure to Britain, but numitted free, The pissent preference on triatists? commission to continue to kom appetition from America was sugar will las maintained för ten yeïrs:| negotiate with the empation authorities, possible. Motor korriya, also «provided a the present preferages as tobacco will be and an extension of the working day to chenne' whereby the Federation's agents) either stabilised for ten years or increased hours müderground and ter hours should tour Japan. He remarked that to one-fourth

above ground. They, also ask that the the nerals of Japan would be large. His I's attitude bus, altered towards | Majesty's, Government had conimended the creation of a railway compally, in the to the Japanese authorities the poss nerupied territory" in which the Rhineland,ibilities of the Trade Facilities Act and France and the industrialists would par exports credit scheme, and he hoped use ticipate, Herr Stinnes has asked for a would he made of the financial facilities reply by noon to-day, and the Cabinet is thus afforded. discussing the demands this morning GERMAN GOVERNMENT'S DESIRE

·· TO COLLABORATE-

HESSELS, October th.. The German Chargé d'Affaires told the Foreign Minister, M. Jaspar, this morn- ing that the German Government wisheiti

EMPIRE PREFERENCE IN PEBIJC Già emment's.

CUNTRACTS..

Cannon, Gefiber mth. The Bomonic Conferrnor this morning discussed the matter of prefereter in public contracts throughout the Empire, also the position and future of the Imperial Institute,

BARLIER CABLES.

CONFERENCE PAVOURS EMPIRE,

PREFERENCE.

Loistos, Octuber 9th,

in the Ruhr and would resume deliveries

Mr. Jenkins outlined the Federation's proposals męstioned September 19th as regards constructional Business,

on

THE PRESIDENTIAL ELECTION

ITS BEARING ON EUROPEAN DEVELOPMENT. SCHEMES,

Loypos. October“ 9th

A muratorium for a maximum period of four years, apart from certain deliveries in kind. The capital sum of Germany's dels to be 50 milliard gold marks (£2,200,000,300), for which the German Government would issue 5 per cent. bonds repayable at par in thirty-two years (195-4). Fer the first four years no intereat to be

päid. For the next four years interest | to be paid at 4 per cent. only (two) millari gold inarks-£100,000,000 per anun). After that the full 5 per rent.

vert milband gold marks-£125,000,000

per annum).

"At the end of ten years Germans to issue a second series of 5 per cent, hands, -representing the interest defèrred duri ing the first eight years, and bringing the annual payments up to 35 milliard gold marks (106,000,000), hất, if this should be considered beyond Germany's capacity by an impartial tribunal, the second series to be cancelled and pay. ments to ciotime at £125,000,000. No sinking fual. Init a special induro, į

nient to be offered to Germany to raise | private loans and redeem the bunds at Parly dates in the form of a generous schedule of redemption prices. For in- stance. Germany could redeem bonds at half their nominal value in 1923, and at three-quarters of their nominal value in 1930. The saving in annual interest paynients achieved by redemption was calculated to provide for both internat and sinking fund för loans raised. The strength of the inducenient offered to Germany to redeem the honds at early dates may be gauged by the esti- pate, 'rontained in the pficial summary. of the scheme, that in the roost favour.. able circumstances she might pay off the whole her obligations in about

Heater leurus that there is much gratita collaborate in the resumption of work fication in Dominions circles at Sir Lloyd

The Daily Telegraph in an eslitorial Greane's aunimeant at the Economic of reparations coal. M. Jaspar promised says the election of Marshal Tsai Kun Euference that the Imperial Govern; to communicate with this French Govern-

suggests that China is in-, Government must promise the indus clined to ment but said anyhow, the German President

stand upon her anrient Ways, trialists who were ready to supply coal that it would pay for it, and the German | Whetlier geng or evil,, and the Powers railwaymen must be ordered to return to which have covenanted rights in China' will do well to scan closely the course of,

Тяло instructed to inform M. Poincare that events in the immediate future. the German Government "desires to dis- | Kun has been thrust into. this position cuss the question of the return to work in the Ruhr and the resumption of those "who have little sympathy with reparation deliveries in kind.

Europeus development in China, and it remains for us to watch the results of

work.

Paris, October 9th.

The German Charge d'Affaires has been

maent is perpiled to allow all dried fruits, currants, and entred fruits in free, while maintaining the duties of 1076, two shil ings and five sülfings, respectively on foreign primlicts. The acceptance by thịc Imperial Government of the principal "that these Empit-grown prodages be admitted,duty free is regarded as of first

ls signhenner,

Lostos, October bil. Mr. Bruce, in n qpierch at the, Beonomit Conference), suggested the appointment 4-Boyni Manumission to consider the question of schentes connected for obtain ing a market for British and Empire agricultural products, and to make re- «commendations to the present Conference. OF ERSEAS SETTLEMENT.

Lesfoș, Ortaher 9th. The Renomic Confereter has decided to establish a committee to enquire into the whole question of Overseas settle owent, and thrash out a profitable scheme. Sir P. Lloyd Greane this afternoon opened the debate în preförenze, which he said was the underlying principle of, the Government, whose desire was that the "Conference should work out practic-

PORTLAND (ORxgar). October 9th. The American Federation "of Labour basi able steps to improve production and upheld, en a roll call, the resolutions of

A semi official French statement on this point intimates that it is improbable that the French and Belgian Governments will this frankly iniquitons, proceding.. for ugree in negotiate with other than the there Rat authorities, employers and workers.

will be little international

but when work is fully resumed it will politics during the eaming year that will he permissible for Herr Stresemann to rival in importance the action which request to be heard by the Reparations

Commission regarding the settlement of those behind' Tsao Kan will permade future reparations, -

him to adopt.

NEW TYPE OF US. WARSHIP.

PRILADELPHIA, October 9th. The set cruiser

Jinrälehrad was launched this afternoon. The vessel is the l fourth of a series of ten planned on the lines of destroyers hat seven times larger, with a speed of thiry-five knots, a battery of twove six-inch rapidfirers, and equips ped to carry and launch acroplanes and lay mines.

NO US POLITICAL LABOUR

PARTY.

THE HAGUE, October Dtb.

"{FROM THE “ DAILY BULLETIN."|"

ANXIETY OF

OHINA'S NEW

PRESIDENT,

PEKING, October 8th President Thao Kun' is still anxious regarding the attitude of Chang Tso Lin, and he has despatched" Pro Kuei Ching

- Yuen Chang to Mukden to disques the subject-ai respciliation

As regards the rumours of an outbreak of hostilities between the Chilli and Frugtion forces, it is, understood that,

Arade Prosperts in all parts of the the Committee which had reported against spite of President Tsao Kun's election. the formation of a separate Political

Chang Tso Lần does not intend taking Labour Party. Empire. He unfoldest aperific proposals which the British Governinènt désired to j¤VION OF L OF N. SOCIETIES.any military measures at present-unless make relating to dried fruits, sugar and tabacco. The Hon. W. Orusly Gore ex pressed lis gratitude at the proposals, The Union of League of Nations Sovic

ties has elected; ex-Minister Trrub to be which would mean new bope for Alaur itiu and the West Indies. He said re-president in succession to Mr. Adlesward. Karding toned that Syasaland and who is appointed honorary president. Rhodesia would probably follow the line taken by South Africa. Reciprocity be

HARRISONS & CROSSFIELD'S tween the Crown Colònies" and the

́PROFITS. Dominions in this matter would be very beneficial.

Mr. Innes on behalf of India stated that preferences would never be accepted in "India. He could not commit the Cavern- ment of Ilja to the policy of prefer-

ence.

The debate will be continued at further sittings.

LEAGUE OF NATIONS POSITION

IN EUROPE.

Lexpos, October Dth,

there are developments in the Yangtsze Valley. If the Kiangsu Tuchun invades Chekiang, then Chang Tso Lin will be obliged to intervene.

President Tṣao Kun will arrive in the capital to-morrow afternoon.

||

· LATER.

รา

It is now stated that President Troos

The report of Messrs. Haerisms- nud Crosfield for the twelve months ended June Kun will take the eath of offer atʼicon 30th shows a ret profit of £192,000, to which is added £45,000 brought forward on Wednesday at the Chu Je. Tang, in from the previous year, making a total of the "presence of the members of hoth | £237,000. After deducting £137,000 for

dividents of six per cent, on the cumula Houses, and afterwards the members of tive preferents shares and ten per cent the Cabinet will enter and offer their on the preferred ordinary shares, the bal-

The railway is being strongly guarded

ance at the credit of profit and loss congratulations. *LONDON, October 9th.

account is £100,000. After payment of a Heuter learns that the Imperial Con-dividend of ten per cent, on the deferred ferenes on Octair 11th, will draw atten-

is carried forward.

་

fifteen years, at the equivalent of aj present value of Mething over $1,550,000.00, the advantage to the Allies being that within that conpira- tively short period they would actually. have received that sum.

On the other hand, if Germany failed to redeem the only and, merely paid the interest on the first series as a per- petual annuity, for the second Four years of £100,000,000 and thereafter, of £125,000,000, she would, at the end of thirtytwo years, have paid already $3,400,000,000 in interest. Loaneraised by Germany in the market of any Power holding any of the honda (which would be distributed among the Allies on the Spa percentages) to he applied to the redemption of honds held by that Power Great Britain, however, in order to faci- litate the restoration of the French devastated regions, agreed that 50 per cent of any, loans raised in the British market should be applied to the redemp- tion of hands held' by France.

ALLIED DERTS,

' '

If the Allies acerpted the propened reparation settlement, virtually the whole of the debts created for the pur pose of carrying on the war, as be tween the European Allies, would be cancelled.

or the fixed obligations of the European

Allies to Great Britain there would be substituted arrangements under which all except a small percentage "(which" would be accepted in the form of a transfer of German bonds) would be remifted, but the German second series "bonds, if ever issued, would be avail

able for discharging European debts to the United States generally.

! MR. BALDWIN'S OFFER...

The constructive proposals contained in the recent correspondence of

Baldwin's Government with the French and Belgian Governments were:-

many

EEPARATIONS.

41

923.

SCOTTISH SPORT. THE SCOTTISH LEAGUE AND CUP.

FYROM OUR OWN CORRESPONDENT.]

EDINBURON-September-3th:--

was concludeil which would make the British share of the German payments a. reasonably good uset, the British "Government would be prepareil to write down the Allied debts to treat: Britain to an amount representing the difference between the British share of i reparations under the revised plan und Little interest is left in cricket, bist the British debt of £10,000,000 to the Association football, is going strong. la United States, and even to consider

accepting payment of the Allied debts the League the outstanding engagement so reduced in the form of the new Gor. I was at Celtic Park, where Partick Thistle" man obligations on the principles laid oppose the home" club, and this"- game town in the phere presented herens de Souss of the Litengok Bonar Law at the Paris Conferencesie This wearing the points by 2 goals tox January last.

THE FRENCH ATTITUDE." In the French reply to the British. Note of August Fith and the documents-pub lished in the French Yellow Books state

ments to the following effect are to be

found-

1. following upon a good display of foot ball on the part of both teams." Air. dricians and. Hentṭaf Müllothing shurel the credit, of returning the most substan tial victories, the Lanarkshire club defeat- ing. Avr United by goals to none, and the Edinburgh club suggering a si

against Hamilton drieonians who, it will be reenlled,

score

France is willing to enter, on a discus-

sion in a friendly spirit with the British finishgh second to Rangers last season, and the other Allied Governments, appear to have retained Üheir effectivenest, The French Government considers, that their form, as in the recent game the Reparation Commission has been against Falkirk, point to the Broomfield given by the Treaty of Versailles allrganisation again being the most formid- the powers which could be attributed But for their sovers trouncing the pre- le challenger of the present champions." to the proposed International Commis. sion, ami that it should continue its tnsk

regulating payments. and periodically re-examining fermany's Scapacity for payment. France, holding to the Schedule of Pay- ments of 1921, requires as a minimant milliard gold marks (£1,300,000,000) in "A" and "B hnuts, and in addi tion to that sucir sums in “(' bonds

f

vious work at Dundee, Heart of Mid- lothian would have been looked up with Favour in the same connection, and thry have but to maintain their form to repain public regard. The suly draw game was at Aberdeen, where, singular to say, Dur des top scorers the previous week, failed to get a goal against their northern rivals At Kirkcaldy, Clydebank last by to Raith Roces, in game of poor The newesmery to the Teague ittle ability apart from resolute

as she may be required to pay in re-quality. spect of inter-Allied war debta. The Ruhr would he progressively een defeness and the game, notwithstanding ated according, and in proportioned intresting-debank, Ayr-Enitol, closeness of the result, was aided the_reparation payments made by vier 1

in

nuing France has neither political nor and Falkirk's only anty meantime ate annexationist aims and hag no dira from drawn ganses, at Third Lanark are to remain in the Bulr any longer than layed they have sented but one goal and worse plight, as with three. games is necessary to obtain the reparations have not yet a point to their credit. y demanded.

RANGERS BID FOR THE CUP.

The ovenation of the Ruhr would be

Rangers won their first tië in the Cikks inodified if passive resistancy reaser, For instance, it woull no longer to gow Cup, and it has to be admitted they „were superior to Queen's Park. Thern is hecessary to guard mines, railways, and ennals against sobatnge, and the troops nothing in that fast to cause discourage, would therefore have the lenst passillement at Hampalen. The youthful even contact with the fabour population The Freneb High Commiand would take every step compatible with the main tenaere of the Buhr pledge and the security of the troops to render the Careupation na light as possible.

THE BELGIAN NOTE.

|

power.

aufully and capably, hut against that representa. Quelu's Park played both fut and experienced and the most skilful team in Sexttish football the amateurs had

area sporting chance of victory.

Beatfish Iragan=fiest Division, Aberdeen. 0: Dundee, 0. Airdrie, 4; Ayr United (2, Chic, 1 Partick Thistle, 2. Hearts. Hamilton Acas,, 0. Kilmarnock,-2; Hibernian, 7. Motherwell, at Morton, 1. Raith Rover Clydebank. 0. St. Miren. 1. Falkirk, 0.

Cibusgow Cup-first Round, Queen's Park, 0: Rangers, 3. ogrcgET.

The Belgian Note, published today, contains the following suggestions and statement of chains po na Belgium stains a sum of five milliard gold marks (£250,000,000) from Germany in addition to the priority payment of 14 milliards (£75,000,000) already revived, She claims that the rest of the priority

• pryment due to her under the Schrifele i of Payments should not be reduced in

Rain spoilt ericker is at least one half neworline with any general reduction of Scotland. Perbshire scored 216 for 6 of the German rejsaration paguenta | against Arboath. 81. Cupar only put which may be, agreed upon,..

Forfarshire's 130 for 6. The "Western"

On the subject of the progressive evacua-Union remains undecided. tion of the Buhr, and the modification noYS ROL CHAMPIONSHIP.

Note.

of the conditions of occupation, shrekd Edinburgh has once more the distinction passive resistance case, the Belgian Luf possing the Bay Golf Champion. Note is in agreement with the French A. D. D. Mathieson won back at Dunbar the honour which he gained at Ascut in The Belgian Government suggests the 1921. The 26-bele final between Mathieson holding of amicable and discrrés con- and the last year's winner, Hugh S. Mit versations between Allied Ministers, chell, of Sandwich, was a close ganie, but though not as yet to the extent of the Edinburgh Academy youth, playing Conference properly so-called." It also cool and stendy golf, won on the seven- expresses the desire to reopen the dis teenth green by and 1. Mathieson has cussion of the question of security with left school, and will enter Edinburgh the British Government.

University in October. His golfing career has been a short, but meteoric one. Start ing by winning the In Championship, boy of 15, he renched the Inst eight last year, and this season came to thes front by reaching the semi-final of the

GERMAN OFFERS,

The German Nore of May 2nd contain-when ed the following offer

en tournament at Pitlochry. He is an all-round athlete, played football and Cricket at school, and is a swimmer of marked ability. Mitchell, who is a year user than the Edinburgh hovi play golf during holiday-time only. He com he knows when he won the event a peted in the 1921 Championship, but only

Germany's total reparation payments, a cash and in kind. to be fixed at 30 milliard gold marks (£1.600,000,000), to he raised by means of international loans in three instalments within fixed tinie mits, of which the last would if the later as could not be raised

within the time limits, an impartialAscot last year. International Commission should decide whether, whep, and low the rest is to be raised.

end in 1931.

The German (lovernment to provide ser.. Mr. James G., Walker, for many years tain vaguely defned "special guaran-one of the most prominent all-round tees" for the proposed payment, and portsmen, who played Rugby for Scotland to flevise suitable measures," includ- and "Oxford University, and cricket for ing legislation, in order that the Oxford and Middlesex, left unsettled whole German national resources should perty of the gross value of £00, 210, W

on holdings total £34.953. participate in guaranteeing the service

the property amout to E171.005 of the loan.'

J

In the German Note of June 7th fur

7/

ther reference was made to the Interna tional Commission proposal, and the German Government offered:

Duties an

the Seaforth Highlanders, unveiled at Fort The Prince of Wales, Colonel-in-Chief of George on August 22nd a memorial tablet

to the 8,432 men of the régiment who made To supply all available information neces-

sary for the forming of a reliable judgIn his speech his Rival Highneas a

the supreme agrifice in the Great War.

catlet ment on Germany's capacity to pay. To throw open to inspection, if required, all financial records and furnish any details desired concerning the resources of Gender industry and business.

PROPOSED GUARANTEES.

that nearly 50,000 Seaforth Highlander fought overseas. Part of the fundirnized. for the memorial, be added, was bein devoted to leping old emendes maimet far" the war.

An inquiry by impartial, experts into Ger

many's capacity to pay, for the pur- pose of assisting the Reparation Com- mission and the Allied Powers to fix a The ferman Government in this Notewaycribed to the British Empire cauzer Up to September zih`£50.000 huit been naximum sum which the Allies can also supplied more precise indications campaign, where offies Fase been ing reasonably hope to recover from Gerlacking in the Note of May 2nd, as to dated with letters from all parts of th the kind and mode of guarantees which world casining mostly suggestions. Th ordinary and management shares, 4:06,000 between Paotingfu and Peking by the The fixing of this sum to be followed or Germany was prepared to offer. The Secretary, interviewed, stay he has re

accompanied by arrangements which guarantees proposed were:-- troops of the Twenty-Third Division and

ceived enough written tabloid and bottle. would ensure the effective re-establish- The financial administration of the Gerrgmeis to start a cancer research meat of Germany's "finances and credit 1an State railways to be conducted museum. Nevertheless, even the mNOSI on a sound basis and would guarantee

separately from that of other State pra minute suggestions are being scrutinisef the punctual payment of the Germisu

perty, and obligations to an amount of very closely, « debb by 'n sistem of control which

ten millian gold marks (£500,000,000)" should not include forcible interference with the economic life of Germany.

ALLIED DEJTS.

+

J

tion to the position of the Langur of Nations in the affairs of Europe Tho debate will be initiated by Lord Robert SURPRISING GLIDER TESTS. others. Cecil, and it is anticipated in Dominions; circles that Lord Robert Cecil's speech, Marquess Curapo's reply, and yesterday's utterances, will lead to a second rigorous debate.

GERMANY'S ABILITY TO

PAY.

US. PRESIDENT FAVOURS INTER NATIONAL COMMISSION,

WASHINGTON. October 9th. President Coolidge to-day said he saw little or nothing this could be gained from an endeavour to hold a world reonomic conference, The American Government would rest on its proposal to the European nations that an international commission should be formed to ascertain Germany's ability to pay reparations. No further steps should be taken in this.

LONDON, October Dth,

A gusty twenty-five mile an hour wind did not interfere with the motar glider.

سفلی

-PERMANENT CABINET..

PEKING, October th The governing Cabinet will continus"

tests at Tympné. · Yesterday's results sur- prised even the experts. One pot ex ceeded eighty miles on a gallon of petrol, in office until a permanent Cabinet is and another climbed 6,600 feet. A pilet to-day covered 112 miles in a hundred and formed. forty-five minutes, the longest non-stop fight hitherto made on a minchiae of this type.

LAWN TENNIS.

ENGLAND DEFEATS INDĨA..

LONDON, October. 9th, At Felixstowe, în a lawn tennis match on Davis Cup lines, England (5. Godfree, ). Greig, and U. Kingsley) beat India (O. Ramaswami, S. Hadi, and S. Jnecb), by three vente to.

Wu Yu Lin is regarded as the most likely candidate for the Premierzbin

FINANCIAL SITUATION.

PEKING, October 5th, i The financial situation is as bad as ever, but it is reported that the new President will find the funds to pay the troops, police and gendarmerie hare and the stalls of the Ministries.

Great Britain is prepared to limit her claims for payment in respect of German reparations and Allied, debts combined to 14.2 milliard gold marks (£718,600,000), which is the present value of the British debt to the United States.

The amount of the concessions which the Bridal Government faight be able to offer in respect of inter-Allied debts must depend on the percentage of the sum of £710,000,000 which it could re- cover from Germany.

a maximum sum which the Allies could reasonably bopa. to recover from Ger

any was fixed, and if a settlement

to be issued with a direct first charge

on the assets of that administration. Dr. Stresemann, the new German Chan- carrying interest at 3 per cent, as from

July 1st, 197 (the end of the time limit cellor, in his speech on August 3rd at a for the raising of the first instalment luncheon given in his honour by the Ger of the proposed international loan) that his Cabinet held to the offers minde

Trade and Industrial Congress, said and securing an annual payment of by its predecessor in the Notes of May 500,000,000 gold marks (£25,000,000). An annuity of 500,000,000 gold marks 2nd and June 7th, including the offer of (£25.000.000) to be guaranteed by a first guarantees based on the entire economie mortgage of ten milliard gold marks that the Rube and Rhineland should not Avatem of Germany, on the understanding (£500,000,000) upon the entire industry, he treated differently from any other part. trade, agriculture, and real estate of of Germany in this respect. The German the country.

Customs duties on certain imports other than necessaties, the Excise on tobás- co, beer, wine, and sugar, and receipts of the spirits monopoly.

(Odmmued at foot of next column.)

Government was prepared to bring evra private property into the service of the guaranteeg Dr. Stresemann întinsfeit that he was prepared to put this offer into execution or even broader lince than had been contemplated at first-nd fans de