1926-05-01 — Page 4

Summer

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* DAILY PRESS SATUKDAY, MAY 1T, 1926

COMPANY MEETING.. CHARTERED BANK OF INDIA,

CAUSTRALIA AND CHINA.. CONDITIONS OF TRADE IN EASTERN MARKETS.

These figures for a period steadily in creased, and the highest point for im parts from Great Britain was reached in 1031, when these totalled the very con- siderable sum of Hk. Thu. : 348,935,000, and, although the exports of that year only totalled Hk. Tia. 30,813,000, the gross total of Tis. 180,848,000 represents a FLUCTUATION OF PRICES IN INDIA: Very considerable sura, as, taking the Hk. Tis. at 3s. 4., the sterling equivalent is: Imports ........................ ....£24,080,000 Exports

AND CHINA.

The seventy-second ordinary general meeting of the shareholders of the Char. tered Bank of India, Australia, and China was held on March 31it at the bank's premises, 32, Bishopsgate, E.C., Sir Montagu Cornish Turner, the chair. man, presiding. The chairman, iz mov. ing the adoption of the report and ac counts, in the course of his remarks, said:

£5,132,000

Since 1921 imports of British goods have decreased, and exports to Great Britain have been more or less maintain. ed, anyway, up to 1024, the latest figures available, which are

Hk. Ta... 126,611,000

Imports. Exports...... ......... 30.250,000 say £20,370,000, For 1993 we are afraid that the figures will make a poor showing compared with the preceding years.

Exports to India remained more or less steady until 1923, when they increased by some Tis, 3,800.000; but imports from India steadily increased from 1919 until in 1023 they reached the large figure of Hk. Tis. 58,241,000.

DIFFERENT POINTS OF VIEW.

CANTON VERSION OF THE SEIZURE OF GOVERNMENT

LAUNCH.

COMPARISON WITH A BRITISH REPORT.

It is curious how widely divergent reports of any action may be, when that action is viewed from different angles. As an illustration of this...w give below a short comparison between the report" of the capture of Canton, Government launch, as it appeared in the Daily Preas of Wednes day and the report of the incident given by the Canton Gaiette of Thursday, The Daily Press report was headed "Brush with the Pickets: British Patrol Boat to the Rescue: Capture of Canton Government Launch." The Canton Gazette headed their report Piratical Act of British Navy Patrol Boat: Strong Proteat Lodged by the Government." The Daily Press did not mention fire-arms. It is not believed that any firing took place. The Canton farette states that British sailors used their firearms and that the crowds on the Bund. were so incensed that it was all the pickets could do to calm them and dissuade them from marching towards Shamecus The salient features of the two reports. however, are given in parallel columns below:

"DAILY PRESS." *

[BY A SHAMEEN CORRESPONDENT]

CANTON, April 26t At noon to-day" pickets interfered while! some furniture belonging to Mr. Quinn was being removed by lighter from Pak Hok Tong to Shameen, but there were A British unexpected developments. patrol boat appeared on the scene and the pickets retired in discomature..

+

CANTON GAZETTE."

The Canton Gazette states that what amounts to an act of piracy in Canton Harbour by patrol boat of the British Navy has caused a strong protest to be Government authorities. forwarded to the British Consul by the

Continuing, the report goes into detail regarding the incident, and #tales that the Strike Picket launch was en- aged in patrolling a certain section of the river in search of smugglers. The picket launch saw the motor boat, which was flying the Chinese fag, with the lighter, and they took charge of it and detrined u number of the crew of the motor-boat.

Taking it all round, the year 1025 was

Our interest in China trade, though, is not altogether a happy one for merchants not confined to Great Britain alone, as engaged in general business with Eastern British India also Egures very largely ; in ports:

Exception must, of course, be fact, is second, to Great Britain itself. made in the case of those interested in For instance: In 1019 imports from tea, rubber, and tio, commodities which British India totalled Hk. Tis. 26,150,000 have commanded high prices and active and exports fik Tis. 0,600,000. giving & markets, but times have been difficult total of Hk. Tis. 30,380,000 or 20,000,000. And what applies to merchant traders generally must apply with equal force to exchange baaks, whose welfare is so ab solutely bound up with the prosperity or otherwise of their constituents.

Fluctuations in the price of raw mate rials, affecting as a consequence the pries

IMPORT FROM BRITISH INDIA of manufactured goods-I refer espe

The year 1924, however, shows a falling cially to raw cotton, wool, and jute have made it difficult to work and exo, As imports from British India are tremely difficult to forecast with any se down to Eik. Tls. 30,827,000, but at the curacy the position,,of markets a few same time exports to British India were Raw cotton, I may months ahead. Raw cotton has dropped well maintained. from 13.80d. per lb. (American mid- mention, occupies the principal place in dlings) to a little under 10d., per lb., China's imports from India. the pre-war level in 1914 being under 7.If we look for the reason for the de-

All this, says the report, was seen by The White Russians in charge of the a British naval patrol boat which was per 1b. Wool during 1925 dropped from cline in imports from Great Britain into 38. 2d. per lb. to 25. per lb. Jute soared China during the last year for which furniture did not stay to argue the mataachored near by and it at once got up. shared up from £45 per ton to £83 158., Sgures are available that is, up to the ter. Deeming discretion to be the better

stoam and gave chase to the picket and now ranges about £47, with some un end of 1921-there is more than one part of valour they immediately jumped launch, the British sailors using their Srearms. To avoid a conflict, the pickets certainty as to the future price level cause; but I regret to say that Japanese overboard. Things might have gone bad

did not return the fire, but ataamed direct... and with great uncertainty as to the competition has cut very seriously into ourly with them but, fortunately, quality of the article offered. At the trade, and it affords one food for thought lunch was passing and picked them up towards the wharf in front of the Electric Power Station. There they landed seven moment best quality fute is scarce, while to consider the merits or demerits of such so that they escaped with nothing worse jute of inferior grade is fairly plentiful, matters as international eight-hour-day than a drenching.

Chinese who were brought before the Owing to this fluctuation in price, sem agreements when a vigorous competitor

Strike Committer. markets, especially in India and China, like Japan is not in the fold. have had to carry atecka of manufactar- ed cotton and woollen goods, which were replaceable at an appreciably lower level, and this has led to trouble. In India, at which boreutt has its headquarters in however, unhappily for the pickets, bari with its cargo and steamed away with the

The lighter containing the furniture was towed by a motor heat belonging to the Electric Company, While it was a rout a picket launch have in sight and doubt less the occupants thought that here was an excellent opportunity of securing some very useful articles free of charge.

Customs

The pickets then took charge of the situation. Having placed some of the As regards South China, especially crew of the Electric Company's motor Hongkong, the thous boycott maintain at under arrest they took the lighter ed against that important British Colony, in tow and inade off. The occurrence, Canton, is a very disturbing factor, and been reported to a British gunboat and seriously menaces our trade, which has par of B.M.'s patrol boats was sent practically been at a standstill in South pursuit

The British navy boat then committed the act of piracy and took the picket launch, the motor-boat and the lighter

two Chinese boats in tow.

This incident aroused a great crowd un the Bund and some ugly threats were

any rate, the position has been rectite and from the latest reports on this side we learn that satisfactory orders have been placed in Manchester for certain China for many months now. As an in- t was now the pickets turn to take shouted at the British Navy. The strike classes of goods for India consumption.

In India and Caylon the tea industry was never in a sounder position. Wh. exports of oilseeds, especially ground nuts, have been on a fairly good scale, exports of wheat have been disappoint ing, and we find Indianporting Aus tralian wheat to meet local needs. Owing to increased banking facilities up-coun- try, the producer can obtain advances on price suits him. The position differs entirely from pre-war days.

people and dissuaded them from march- stance of this I may mention that for fright. As soon as they saw the armed pickets, however, calmed the anger of the the period July to December of last year taunch coming the guided their host to

One or two more similar acts of aggres- the number of British steamers that were the Electric Company's hund and left ing on the Bund towards Shameen. able to use the treaty port of Swatow there and decamped as quickly as pos- sion by the valiant British Navy, con- owing to the boycott was only $8, where-sible dragging some of the unfortunate cludes the report, and an explosion will inevitably be the consequence. The in- as in the previous year, 1994, over a water-hoat men with them.

The British patrol launch took the cident has already served to accentuato corresponding period, some 680 British

lighter and also the pickets launch in the bitterness of the boycott vessels entered that port.

The shipping position at Canton is tow and brought then to Shameen equally bad, as during July to December was a smart and quick piece of work.

It

his stocks and hold up supplies until the of last year no British steamers at all (Government in due course and doubtless/arines shall not repeat such piractical

actions.

The Government has served a warning The launch will be returned to the on the British Consul to see that his A strong protest will be made at the same" put. Surely it would be opportune to time against the use to which it has been point out to the Clovernment that if such launches were caught in the same way again they would be sunk without refer ence to the Government or anyone else.

for complaint.

were entered, whereas for the same period in 1924, excluding river steamers, The report of the Currency Commission 209 were entered, representing a gross appointed in August last to examine and tonnage of approximately 500,000 tons.

The conditions which have ruled in report on the Indian exchange and tur- rency system and practice, and to con- Hongkong for the major part of the year sider whether any modifications were must have militated considerably against desirable in the interest of India, is the successful working of firms and com- No one would have the slightest ground Awaited with considerable interest. It is panies. useless to make any forecast as to the It is not surprising that the sufferers findings of the Commission. But, what by this unmerited adversity are inclined ever the result, we shall have the satis- to think that the apparently supine con- faction of knowing that in spite of duct of the British authorities has encou- criticism the composition of the Com- raged the Cantonese strikers to persist At the mitter and the personality of the Corn in their outrageous conduct. mittee met with signal approval in same time it must be remembered that Indina financial circles after the Great Britain has not a free and untram- strength of the Commission had been melled hand.. severely tested.

In connection with Indian trade. the! year 1995 will be specially marked as the year in which the Excise duty on colton goods was suspended at the instance of the Viceroy, and subsequently entirely removed, and a long established and welt founded grievance on the part of the millowners in India has been swept away I regret to say that the Indian mills are still suffering badly from their exceed ingly keen competition with Japan, where the system of long working hours still prevails, and is a severe. handicap to the Indian mills...

BOLSHEVIES AND CHINA.

"THE PERFECT HUSBAND.” CHINESE PLAY AT ST. ANDREW'S

YOUNG MEN'S CLUB. There was a large and appreciative audience at the St. Andrew's Church That the Bolshevik influence is at work Hall last night, when the St. Andrew's both in North and South China is un-Young Men's Club wound up their series doubted. In the South especially money of popular winter social gatherings by has been freely supplied by the Bolshe staging a play taken from the Chinese, viks, and this apparently has been found entitled "A Perfect Husband." by utilising the proceeds of Ruscian goods sold in China...

This recovery is

manner,

WEIHAIWEI CONSTABLE'S

DEATH:

FOUND IN KING'S PARK WITH THROAT CUT,

On the morning of April 15th a ghastly discovery was made in King's Park, Kow- loon, when the dead body of a Weihaiwei constable, aged about 21 years, was found. The man had been stabbed and had died as a result of a number of severe wounds in his throat in view of the nature of

into the circumstances surrounding the death. The Coroner sat with a jury,"

The play, as indicated from the title, proved both interesting and amusing, The trading, and economic conditions of and certainly provided an excellent con- Japan, which were affected very severely ception of Chinese humour.

All the characters were admirably the wounds and, the appearance that they by this earthquake of 1903, are rapidly and the acting, and impersonation could not have been self-inflicted, the returning to normal. evidenced by the recent improvement of of the different roles reflected the highest police suspected that the unfortunate man the yea exchange rate-from 18. d. in credit on those participating; while the January, 19252, to 18. 10.11-324. in March, manner in which the play was staged had been murdered/

testified the care and trouble that had A further step towards elucidating the The Straits Settlements and FMS. 1920,

The adverse foreign trade balance has been taken by those responsible for its mystery surrounding his death was made have benefited enormously by the boom

the Kowloon yesterday afternoon at in rubber and the constant demand for decreased considerably, the figures being production. The whole performance was and carried through without a hitch and was tin For 1923 the value of exports of 534,480,000 yen, 648,157,000 yen, rubber from British Malaya exceeded 87,063,000 yen in the years 1923, 1924, thoroughly enjoyed from start to finish. Magistracy, whers Mr. J. H. B. Nihill, £30.000,000 as compared with £30,000,000 and 1995 respectively. Imports of raw The story, in spite of being essentially sitting as a Coroner, opened an inquiry

a commendable in the previous year. Tin exports for the cotton in 1925 showed a large increase in Chinese, was faithfully kept to and the same period (1925) were valued at value, being 600,000,000 yen as against plot was developed in

On the other play had been translated from the comprising Yessrs. J. T. Humphreys (fore- £20,000,000. The rubber industry seems 450,000,000 yen in 1821. to be now established on a firm founda hand, exports of raw silk, chiefly to tion, and if prices can be maintained at America, totalled" 625,000,000 yen, as Chinese by Mrs. M. K. Versoons who man), I. F. da Rocha and Chung Ying

produced it with the assistance of Mr. a moderate level, fair and reasonable to against 454,000,000 yen in 1924.

The money market has also improved E. M. Doodha and other friends. Hr. the consumers and producers alike, the future of the rubber industry is apparent in Japan, enabling borrowers to issue Doodha was responsible for providing

The cast was as under:: ly thoroughly well assured, and, perhaps, loans at longer terms and cheaper rates the correct costumes.

of interest. These improvements are the time is not distant when all restric

Mr. and Mrs. Ws, Rev. Geo. E. Arrow tion sa regards output may safely be raainly due to the Government's retrench-

ment policy and the thrifty and indus amith and Mrs. M. K-Vessoona. abolished.

trious efforts of the people. It is officiallyKwai Fah (Wu's daughtert, Mr. P.

Sands stated that the policy of the Japanese The position in China and the condi- Government is to return to the gold Mr. and Mrs. Yeung, Mr. R. Nicholls tions of trade there have been most de standard as soon as trading and economic and Miss M. Mason. plorable for some considerable time, but conditions allow, but it is moreover the serious trouble began with the riots emphasised that any temporary improve. in Shanghai in May last. Strikes and ment of the yea exchange will not in. boycotting caused a complete collapse of fluence the Government to take any hasty busincas in Shanghai for a couple of step in this direction. months, and following on this civil war, suspended for a while, burst out with in- eressed intensity. The railwaye have

occupied by the military.

-༧

PORITION IN-CHINA,

"MANTHA YLARʼO ́RESUZZE. A

42

Yeung Tau (Young's son-The Perfect Husband), Frank NW. Doodha.

Mui Heung (a slave or mui tras), Miss M. White

Male attendante, Messrs. Mackenzie, Bnd F. Nicholls.

Pak Rap (a marriage bruker), Mr. 32

Chiu.

Dr. T. Smalley said that the wounds in the dead constable's neck were excted- ingly serious; while there were also wounds on the little anger of the right hand. There were no wounds to suggest

death The wound in the neck reached that deceased bad struggled before his tight down the vertebre column severing all the vessels and structures on its way. The whole wound was composed of seven separate incisions, which rad into cach other. The cause of death was an incised wound of the throat, and hemorihorage.

In answer to the Coroner, witness kald the wound could not have been self-issa dicted. The man had been dead for about 38-hours when witness saw him. developed gives cause for much anxiety, which represents a return of 20 per cent and this is due principally to the items Detective Sergeant. Kennedy gave evi. and what it means to Great Britain, the free of income-tax. The sum of £25,000 under the heading of current and other dence of finding the body after receiving trade figures reveal at a glance-for in-is-set apart for the officers super secounts on the one hand and holdings information as to its location: He said annuation fund and £125,000 for reduc of buls of exchange on the other, which that he found it lying in a hollow of the tion of the premises sccount, which now indicate that large business is passing ground near a rock. stands at the figure of £1,025,720. The through this bank.

Further evidence was given by a Chinese reserve fund, which now standa at

Without being unduly optimistic. I married woman who stated the deceased £4,000,000, 33 compared with the capital am pleased to be able to say that there and another...man had visited her from Prof £3,000,000, the directors consider is are indications at certain points which time to time, and that on one occasion

sufficiently large at the moment. A com-lead me to hope that trade conditions she had heard them conversing together parison of our balance-sheets of 1924 and will be more favourable during the coming At this juncture the Coroner adjourned

year than in 1925.

the inquiry, which it is expected will last. 1026 shows that our total figures have Increased by approximately £10,000,000,

The report and accounts were unabi for some time, as there are a consider

-able number of witnesses to give evidence. (Continued as foot of nezi Volamn.) imously adopted.

As regards the report and statement of. Bannister. accounts, the directors are recommending

USE COLGATE'S SHAVING STICKS AND RIBBON Naturally the situation which has now payment of the usual dividend and bonus,

DENTAL CREAM

SOLE AGENTS:

THE HONGKONG TRADING CO., LTD.

BANK OF CANTOR BUILDING,

HONGKONG,

stance --

In the year 1919. im- ports from 'Greut

Britain into China Hk. Tl. 64,232,000 In the year 1919 ex-

norts to Great

Britain from China Hk. Tia 57,160,000 Giving a total of. Hk. Tis. 191,478,000

or 34 220,248,000. *Haikwan Taela is the Customs TueĮ.

P