1927-03-05 — Page 2

Page

2

We beg to notify our Clients that the Distillers "Agency, Ltd. have decided to withdarw the Top Notch White Label altogether, making use of an even better quality of whisky than borotofore and adopt the Gold Label as their standard brand for the future. therefore, when order- ing see that you get

"Gold Label King George IV" "Old Scotch Whisky

H.Bone genuine unless bearing the above Label.

Sole Agents Gande, Price" & Co., Ltd.

TEL. 135.

CLEANERS

THE HONG KUNG DAILY PRESS, SATURDAY, MARCH 5th, 1927.

No. 2, ICH HOUSE STREET, HONG KONG.

"It's as new as the day

I first put it on! "

furs Overcoats and look dowdy after stor- ing, let us restore that bright and new look,

Send to the PREMIER DRY-

CLEANERS.

The Steam Laundry Co.

HEAD OFFICE & WORKS: MONGKOK. Tel K. 32 HONGKONG DEPOT: 16, Stanley Street, Tel.

KOWLOON HOTEL DEPOT.

PEAK HOTEL DEPOT.

KOWLOON DEPOT: 19, Canton Road

HONGKONG HOTEL: (Visitors only).

1

Write or Phone for complete Price List.

1279,

GREEN ISLAND CEMENT CO., LTD.

Best Portland Cement.

SHEWAN, TOMES & CO.

GENERAL MANAGERS, "HONGKONG.

"HAZELINE SNOW"

'Trade Mark!

The simple way to a clear and healthy complexion is the daily application of "Hazeline Snow." It cleanses „pores clogged with dust and gives the skin a freshness of “appearance which exceptionally charming.

“Haieline? Snow" is not greasy and may be applied conveniently at any time.

In giant pots

'HAZELINE" ROSE FROST"

{Trade Mark

The best means of bringing natural roses" to "pale cheeks. Exceptionally pure and quite harmless

In glass pets, at all

Chemists and Sioru

LONDON AKÁ, SHANGHAI:

BURROGAKS

AN 10TH

WHAT THE SOVIET IS TRYING TO

}

DO IN CHINA

HINTS AT WAR PREPARATIONS.

NATIONALIZING THE CHINESE RAILWAYS,

Since the Soviets continue to in- | Auenca Chinese policy, it is neces sary to examine the road along which China is advised to travel. The Bolshevista have always held the idea that as long as the policy of repudiation and confiscation, is persisted in, the victims are help- less. This policy cannot always be limited to the geographical area of the Soviet Union but if allowed to operate in Russia, it must sooner or later affect other countries. And thus the people who advised the " British victims to "Write off" their claims against the Soviet Govern- ment and start afresh" may find themselves victimised by Russia ia China.

For China in drifting "along the Soviet Road" and we have it on the authority of Stalin, the Man of Steel, and the Dictator of Russia to-day, that the aboli- tion of treaties" has become an old- fashioned demand and that it is Lime now to go further than this." In fact the next question is the nationalization of the Railways. This is essential and affairs must be brought to this pitch."

Stalin's Frankness.

Stalin is frank and his statement ehould be a serious warning to British holders of Chinese Railway stock and bonds. But the railways alone do aut satisfy Stalin. With the Soviet experience behind him he states equally frankly that:

The ultimate result depends er Russia, in addition to the fact that, China, India and Russia in combination form a formidable camp against the rest of the world. But to hasten the day it is essential to be

Coble "

taught by Russia. " The Izvestya;

H.K. AND SHANGHAI HOTELS LTD

The Paninsula Hotel.: The item Payments on account of construction in progress" in the balance sheet is in respect of the Peninsula Hotel at Kowloon, Hong Kong. Work on that project "was suspended last month owing to the building having been taken over by PENINSULA HOTEL AND THE the military authorities as from the

INTERESTING REVIEW OF LAST YEAR'S WORKING.

MILITARY.

1st instant under an agreement which provides for a thonthly rental FINANCES PREVENT DECLARA-to the Company and reinstatement

41

TION OF DIVIDEND, of the premises during tenancy. Although the terms of the agreement An interesting review of the past are, in all the circumstances of the of reckoned," which for Rus: ais means the development and year in connection with the Hong ease, reasonable, your Board would stabilization of Socialism and for Kong and Shanghai Hotels, Ltd., have preferred in the ultimato in- the peoples of the East a proper was given at the ordinary yearly terests of the Company to have been. understanding of the Lessons mecting of this Company, held at able to proceed towards completion. the offices, Exchange Building, I am sure you will agree, how- "Everybody knows the import-Des. Voux Road Central, yesterday ever, that no other course was open to your Directors but to amicably ant part played by our country morning. after the Revolution in revolu-

The profit made on the delivery acquiesce in the Military Authori- tionising the peoples of the East. It is not only the fact of our of the Kale Hotel, Shanghai, and ties making use of this building. geographia, proximity to Chits, the financial position of the Com- which is so obviously eminently

desired to

pany were referred to, and it was suited to their immediate require penetrate everywhero, or that

ments. It is of course impossible to. the Communist International is regretted that it was impossible to carrying on the wark of political declare, a dividend under present estimate the duration of the troubles in China, but so long as abnormal education and political organiza financial circumstances. tion in all the oppressed coun-

Mr. J. H. Taggart (Chairman of conditions prevail and it is neces tries, but the very fact that the Soviet Union exists, that it fights, Directors) presided, and was sup- sary for additional forces to be and that it has beaten the Imported by Mr. Walter J. Hawker stationed in the Far East, I am con- perialists of the world inspires

the

Use Cuticura

To Heal Slight Rashes Before they become serious slcin troubles. Bathe with Cuti- cura Soap and hot water, dry geo- bly and anular with Cutieurs Dint- ment. Daily use of Cuticura Soap, assisted by the Ointment when re- quired, keeps the pores active and the skin clear and healthy. Seap. Oistment. Talouss sold throughert

Try the Cuticura Shaving Stick.

HONG KONG STOCK EXCHANGE

CLOSING QUOTATIONS.

March 4, 1997.

revolutionary spirit of the op- (Managing Director), Messrs. J.fident you fully endorse the policy pressed masses. And therefore Scott Harston, E. M. Raymond, of your Board in loyally giving B. K. Bant $1,050 x div. buy," there is no doubt as to the in-Jahri Fleming and B. Lander Lewis this Company's co-operation and Chartered Bank, Auence exercised in all this, by the teachings of Lenin. Did not Lenin tall u3-

(Directors), Mr. P. H. Suckling (General Manager) nad Mr. C. G. Copley (Secretary).

All that is necessary is a push from the outside to move the

There were also present the fol peoples of the Enat T Did he not- tell us that an awakened Asia lawing shareholders, representative and the conquest of power by the of 74,105 shares-Messrs. A vanguard of the Proletariat will Alves, E. Abraham, J. T. Bagram, change the trend of history!

1

And did he not point out that O. R. Benson, W. H. Browna, J. T. it is our duty to keep the pot F. J. Easterbrook, W. E. Van Ep

To-day China is seathing and Sang Chor, N. V. A Croucher, boiling?"

."

Russia the Bellicose Imperialist.

support.

No Dividend. Regarding the important matter of financè, I regret it is impossible in present circumstances for your Board to recommend the declaration of a dividend in respect of the past

financial year. As you are of

then proposed issue of further course aware, the situation which arose in June 1923 prevented the

Fung Tat Hang, R. Gittens, Sir Robert Ho Tung, and Messrs.. O. The Soriets are obviously preparKitchell, "Kwok Kam Hong, J. E success. Since that time one can

In addition to the

"It must be further borne., in mind that the nationalization of ing for" war. the more important factories be serious speeches delivered on this comes imperative.

In this con- subject by Bakharia and Voro- nection the first thing that arises is the nationalization of those shiloff, the Soviet Prime Minister enterprises whose owners Lave Rykoff emphasized the possibility of made themselves prominent by war in a speech on January 17th. their hostility and particular ag According to a report of the speech gressiveness towards the Chinese people. Then the peasant ques in the official freestyn, he said: tion must be brought to the front and linked up with the Revolu tion. I think that in this con- nection affairs must be brought to the state of nationalization of the land."

And after a pause, Stalin smiled and said:

"The rest goes without saying, Mines, warehouses, banks, private property, jewels, books and the rest.

Already Soviet economists have been instructed to take stock" of foreign investments in China. They buva apparently reported and, ac- cording to Bukharin, after counting the number of spindles belonging to foreigners and particularly to Bri- tons, they have also ascertained the capital invested by British nation- als in coal mining-22 million dol- lars. In fact Bukharin was of the opinion that whilst there was not much, yet it was worth confiscating.

Lenin the Prophet.

In accordance with Soviet custom,

The Pravda:

་་

"From the speeches you have Already beard it is obvious that the question of war has come to the fore. At a meeting of this kind (a meeting of the Aviation and Chemical Warfare Society) it would be wrong to hide the fact thas the pessibility of peace has deteriorated since our last meet- We see numerous signs ing.

that the danger of war has be come more acute and real than hitherto. I was asked to say who manages all the intrigues against us and although there is no decu- mentary evidence there are indica- tions which point to England as the country that is attacking the U.S.S.R. It is not only on British territory that the ruling Conservative Party is agitating so, madly, and cruelly against us But it is all over the world that British diplomacy is active in this respect...

The Communist Party and the Communist International are now concentrating on China in the hope that by their agitation they will Le able to prevent a peaceful con- clusion to the negotiations between

27 by

Mackenzie, T.-S. Parsons, Poen Lai Fung, F. Schaer, P. H. H. da Silver, A. E. Smith and Soo Pei

Shao.

Chairman's Speech.

The CHAIRMAN first of all read the auditors report which was as follows:

shares of the Company being hardly say that business conditions generally and more particularly financially have very greatly in proved. The Company was com- mitted to the erection of the Penin- sula Hotel, and heavy payments on that account-which should, in the ordinary course of events, have been financed by the augmentation of the Company's subscribed capital-Have in the circumstances been met cut of monies advanced to the Company on overdraft facilities by the Hong Kong and Shanghai Bank, to whem

We have audited the above Account and Balance Sheet with the books and documents of the Head Office and the Accounts and Balance Sheet of the Shanghai Branch rendered by Messrs. Thom son it Co., certified by them correct. We have obtained all the information and explanations we have required. In our opinion considerate attitude shown in what such balance sheet is properly cannot but be regarded as a period drawn up so as to exhibit n true

our thanks are therefore due for the

Managing-Director.

and correct view of the state of of financial stringency. the Company's affairs according to the best of our information and the explanations given to us and as shown by the books of the Company,

PERCY SMITH, SETH & FLEMING; Incorporated Accountants,

#

Auditors.

increase of

Do., London...£114 x, div. nom.

Mercantile Bank, Anom

Do

P. & 0.

Bank

Wire Ins..

дом.

Let buy. 574 Ch

8860 burg $0.30 дод.

„Ta, i 45 non. 3985 vel

.$58 nom.

$15 bay.

$31 nom

52 al. $1.10 nom.

Raat Axis Bank .............. Canton Insurance Ohi Underwriters North China as, Union Lomarance Yangiste Insurance Hong Kong Fire!

his Fire Insurance ... $200 bay.

Steanibo.... Indo-Chinas (Fra). Douglass .......... Hong, Kong

Da (Del.) Sheti Transporte Star Ferrios Waterboats... China Sugar Malabon Sagara Benguets

Kailan Mining A...... Lany ksts (combined).. Lo, (single) S'hai. Explorations shahar Loans

Bauls ....... Tronoh Kines Oral Caspiane. B.K.& K Wharts. Hak. & W. Docks.... Hongkows New Hagineerings.. Shaugha HK&Hol HK. Lands Bang Song

Temorials Humphreys Estates. Prince's lulunga...

Docka

Ewo Cottens Orientals

Do.

Ds.

Realtys..

.....$40.buy.

18/* nom

.553 buy, $14 bay.

322 SAL

$3% Rom.

...$1.30 nom.

„Tis. 244 noma. Tis. 124 nom. Th. HOL ..Tis. 7 nom. ..$1 nel...

21/+ buy!

7

8/num.

T. 160 nom

Ala. 5 buy..

AM, 101 buy.

buy, 790 sol.

$56 nem

$5 buy.

$21 BOL

bay,

nom. ไ

2+ m

changhai Cottons (old). Th. 34 buy. China Buses.... HK. Tramwaya Penic Tiss (old)$16 bay. (new) bily, Singapore Tractions.....11-suh

#1 sol. Annouta

$18,60 bay... Canton lees Uements (combined) ......#7 bay, & sa.

(old) ....16 BAL 10. (new)......I nom. Uhins Lights (comb.)..............314, nom.

Da (old) -muşkı nüm

(rw) $7 nom. *65 Bel. Providente

{n@w)....'Ha. 17 buy.

121) bay.

Before closing my remarks, how ever, I am compelled to make re ference to a matter personal to my self. It became "necessary during the course of last year for your Board to grant to me leave of absence on the ground of ill health and in June last Mr. Hawker was on my recommendation promoted by the Board to the position of a Managing Director, an appoint- ment which his hard work in your interests, particularly during the Chins

·Director

Lio,

$2.30 nom

.18 доп.

$571 bay.

uom.sJminal.

Hong Kong, Feb. 15th, 1927. Continuing the CHAIRMAN said and loss account for the year 1926 You will notice from the profit that the balance of working account is $1,194,379.33- 856,000 on the balance of working account of the proceeding year. I whenever important decisions are

have to point out, however, that the past two years, so well merited On Constructions taken by the Government explana

working account for 1928 includes my return to the Colony in Decem Dairy Farm....317 now.

ber last I was constrained to resign Dar A Winge tions are published by quotations the British Government and the credit, proportionately for the

„235 nou, from Lenin's writings and speeches. Cantonese. The Soviets are also twelve months, in respect of rental my own position as a Managing H. K. Electrice

K. Ropes (old)

$10 sul In the case of China both official advising their Chinese comrades to insurance as a result of the Com- Director whereupon the Directors Macao Electrics

Da, (now)

val. solve the agrarian problem papers, the Jrvertya and Pravda,

the Hong Kong Hotel by the fired elected me to the Chairmanship Lane C

it is on that account, that your

ux Macintosh....

.819) nom. devoted considerable space to these the nationalism of land, and the pany's loss of the north block of invited me to a seat on the Board H.K. explanations in order to prove that, industrial problem" by the confisca which occurred on the lat January: confirmation is requested at this

Sinceres

.181 bay. Although dead, the father of Sovjet- tion of industrial undertakings. 1926, on the other hand the Com

United Asbestos ..............$20 nom. I should perhaps add Watsen (old)113 bay. ism approved the actions taken. In fact, "China must follow the pany last, for the last two months meeting to my-appointment as a road, indicated by Lenin." In re of the year, revenue from the Kalee that Mr. Hawker will proceed on

Wm. Powell .....................$8) nem. Therefore the Home leave on the 15th instant and Soviet Hotel, Shanghai. turn for this "imitation.

14 "In 1920 in a report of the Russia promises co-operation" 1926 balance of working account work of the Colonial Commission in the solution of all post revolucannot fairly be compared with the that from that date it has been Telephone $3.70 bay. appointed by the Second Com- tionary problems," and even goes figure of the previous year, as the arranged that I shall pro fem buy-buyers; sel-sellors; -xales munist Congress,, Lenin said: as far as to say that the union 1026 proft on working is not wholly resume the position of a Managing

The accounts before you In all Colonies and backward between China and the U.S.S.R. accounted for by the earrings of

show that! countries we must create cadres will in itself solve all the prob the properties operated by the Com- 8276,677.32 has been charged as de- of independent fighters, formlems." In the meantime, however, pany, to-day, 2

preciation, leaving a nott balance of 8603,769.15 to be dealt with at Party organizations, agitate for every ounce of energy is expended Lhe formation of Peasant Soviets on the Botsbevisation" of the

*Whilst making

cing mention of the this meeting, and I now formally as well as actively assiet them to Chinese people by agitation, advice Kaley Hotel in Shanghai, I should beg to propose that the report and establish Communismo and the and financial azzistance -N:-O.

Daily News

inform you that delivery of that accounts as presented be adopted On Loxox- Soviet system, of Government,

property was duly made by the and that of the balance of profit and loss account the sum of 8300,000 Company on the 1st December last,

general reserve and the figure of $370,102.33 appear to transferred to ing to the credit of profit and loss and 2503,769.45 be carried forward account represents the profit made to 1097 account. When that pro- by the Company on that transac pozal has been seconded I shall be tion. It unfortunately happened pleased for shareholdere to put ques that at the end of the year, when ations, and then to answer them to The cotton industry has found large part of the sale price was the best of my ability."

Sir Robert Ho Tuko seconded an important ally in artificial transferred to our bank account in silk The consumption by the cot Hong Kong, the rate of exchange The report and accounts were

was against us, with the result that carried unanimously. ton industry in 1924 amounted to. about 11 per cent. of the country's to the debit of profit and loss AC- count appears 898,986.96 due to loss artificial silk production, in 1925

ARTIFICIAL SILK IN

ENGLAND. INCREASING USE BY THE COTTON INDUSTRY.

Discussing the amalgamation of the artificial ailk interests of Court- aulds, Glantstoli (Germany), and Bois Viscose (Italy), the Textile. Mercury Annual Review, 1926, saya Great Britain is shown to have no surplus for export and adds:

Success in the future will not depend on the quantity of yarn exported, but on the extent to which textile manufacturers can use it effectively...

i

...

The Kalse Hotel,

Director.

Other Business

On the proposition of Mr. J. P. it rose to above 30 per cent., and on exchange. I am pleased to be

BAORAM,

seconded by Mr. H. in-1926 it is expected the figure able to inform you that the major GITTENB, the appointment of Messra. will have been further increased. portion of the turn-over of the Allan Cameron, John Fleming, B. The woollen industry. used about Kalec Hotel has since been absorbed Linder Lewis and J. H. Taggart as

EXCHANGE.

UFENING QUOTATIONS.

March 4th, 1927.

Telegraphic Transfer." 1/11 Pank Bills, on demand 1/11 13/16 Bank Bill, at 30 days.right Esak Bills, at 4 months what months' sight 2/0 13/16

Documentary Bille

mantha sight

reduta,

Bank Bills, on damand Credits, 4 months sight"

On Naw. To j

Bank Bille, on demand Credite, at 60 days sight...

2/015/16

1,225

.

Ox

}

24

Bank Billa, on demand...) ON CALCUTTA

Telegraphic Transfer Bank Bill

183

on demand 133

sight

1201

854

What really matters is the ex-

20 per cent of, the production in bad establishments our other Shang-ditestors was confirmed, and E. ON BRIDGEN Lent to which the other textile

1925, and while the

M. Raymond was re-elected as a Bank industries of the country: can-

try still uses large quantities The items. Land" and Build- director. absorb production. This is the

of MP N Vale, 30 daga there may have been a reductionings in the balance sheet at the 31st On the proposition of Mr. N. V line of development which the

YOtomaXAOn demand... 97) in 1926.. Tag December, 1996, naturally appear A. CROUCHER, seconded by Mr. W. Oz Man Out and British artificial silk industry is

SINGAPORE On demand. taking. The tendency in to carry Sir Philip Cunliffe-Lister Presi- at figures, lower than those shown E. Yax Ers, Mesara Percy Smith O the yarn a stage farther into the dent of the Board of Trade, in at the 31st December, 1925, due to Seth and Fleming were re-elected Or BAATIOn demand ficished fabric. The biggest mar- foreword states that the value of the the adjustments necessary, to hayo auditors of the Company for the ket in that respect is at home, exports of artificial silk manufae been made in consequence of the ensuing year at a fee of $2,000, and particularly in the cotton Sadus tures during the first eleven months sale of the Kales Hotel property in Messra Thomson & Co. were re- try of Lancashire and the woollen of 1925 was nearly £5,000,000, com- Shanghai and the building loss elected as anditors of the Shanghai and worsted industries of York-pared with about £2,500,000 for the sustained through the fire at the Branch for the ensuing year. at a

fes of Tix 1,000. Hong Kong Hotel, Hong Kong. same, period of 1925.

shiro.

On Harmone-Ondomsadnom. Os Ex9Os demand ON BANGKOK-On demand *** Borgarlak, Bait's Baying rate, 19.55 Guta Laar, 100 fine, par thaki. BAX SILTER, par 09,

2511/1

N