1927-05-04 — Page 3

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THE HONG KONG DAILY PRESS, WEDNESDAY, MAY 4th, 1927.

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BOOKMAKERS' BAD TACTICS:

MR. CHURCHILL'S WARNING.

BETTING TAX NOT GIVEN

FAIR CHANCE.

MORE SUPPORT FOR TOTALISATOR.

Has a really wise policy been adopted by, bookmakers generally and turf commission agents in regard to the betting tax? asked Mr. Churchill, the Chancellor of the Exchequer, when replying to a de- putation on the betting tax.

Mr. Churchill himself answered the question.

CANTON INSURANCE

OFFICE.

ANNUAL REPORT.

The report of the Canton Insur ance Office, Ltd, which will be presented to the shareholders at the 40th ordinary meeting to be held on Tuesday, May 17th, statos:

1923 Account-After paying an Interim dividend of $18 per share on May 18th, 1998, the amount standing to the credit of this Account is 8674,302.81.

This it is resolved to deal with in the following manner:-

To pay a final dividend

of 822 por share..... $220,000.00 To add to Underwrit

ing Suspense Account to close the year 1925

454,302,51

8074,302.81

1920 Account.-The amount stand-

of

Out

this the

i

INDIA SETTLING

DOWN."

LORD BIRKENHEAD'S

OPTIMISM.

PLEA FOR CO-OPERATION.

A

Cautious optimism was the domi want note of a recent speech-of-the Earl of Birkenhead in the House of Lords surveying the Indian situa tion. Invited by Lord Olivier, his predecessor in office, to say some- thing as to the

prospects of further progress towards the status of self-governing Dominion, the Secre- tary of State insisted yet again that it was for India to. prove herself fit for a fuller measure of constitu tional freedom. In an appeal to commonsense and reason, he point- ed out to loaders of Indian opinion that irrational obstruction, a a policy, was not the most potent argument in favour of extending the Constitution.

Every time, in your agitation," ing at credit of this Account is

$2,351,296.94. he said, "that you dwell upon the General Agents and Consulting the statutory inquiry into the work- As to the demand for expediting crashing effect of the tax, how it Committee have declared an in- ing of the new Constitution, which will ruin sport, how it will prevent terim dividend of $18 per share was to take place at the end of the hetting altogether, and so on, you absorbing, $180,000.00. The balance probationary period of ten years, of 82,171,296.94 will be carried Lord Birkenhead, while detecting tend to alarm the betting public forward.

some abatement of the vigour with I and discourage your clientele. I do Consulting Committer. The Cenwhich it had been pressed, declined

not in the least complain of criti-eral. Agents regret to have to re- for himself, to be the slave of a cism or agitation so long as it is cord the death of Sir C. P. Chater, date. The appointment of the Com- C.M.G., who has been actively mission was due in 1020. But if the fair, but I think you must your interested in this Company since favourable auguries of the past few seves consider the depressing effect 1891 in the capacity of a member months were borne out--in other words, it became apparent that which some of the incidents and of the Consulting Committee,

the Constitution was accepted as a propagands of this autumn must

means of collaboration in securing have had upon the betting public."

better government for India-ha The deputation, which Mr. Chur-

did not apprehend that either the Government or Parliament would chill received at the Treasury, was

insist on the full period of proba tion. representative of the Turf Guer- dian Society, the Betting Duty

Sir Robert Ho Tung, Messrs. A. Compton, L. Dunbar, A. 3. Gubbay, Henry Humphreys, T. E Pearue and H. F. White retire but; being eligible, offer themselves for re-election.

Auditore. The Accounts have hoen audited by Messrs. Lowe, Smith, Seth & Fleming who, being eligible, offer themselves for re-

Reform Association, and the North- Bingham & Matthews and Percy of the waning influence of Swaraj,

ern Bookmakers' and Backers' Pro- tection Association. The depula-election. tion was introduced by Sir, Frank Meyer, M.P.

Other points from Mr. Churchill's CHINA PROVIDENT LOAN & reply were:

Elects On Racing.

I do not say that this propaganda

MORTGAGE CO., LTD.

The report of the Directors of

. Differences Loss Acute, While discerning wholesome signs Lord Birkenhead was unable to share all Lord Olivier's optimism in the matter of the assuagement of sectarian differences. The relationa of Hindu and Moslem were perhaps a little lem acute now than last year, but there had been four seri Que collisions in the last six months. More disquieting to his mind than these, crude manifestations of moh intolerance were the auspicions of the faction leaders in the field of politics. The position, declared the Secretary of State, still lacked wider area clearer signs of the re- stability, though he saw

sponsive" co-operation which was so essential to India's future.

over a

After inclusion of all expenditure incurred in connection with the When he came to discuss the con- investigation of the Company's

tinued detention of prisoners-- affairs, amounting to 23,908.55 subject which Lord Olivier had in- over and above the Reserve pre- troduced with a handsome tribute viously created, and the omission to Lord Birkenhead's judicial char- of Interest on Loans amounting to acter of mind-the Secretary of $136,631.77 the recovery of which State was firm in his assurances

is the sole cause, but it is a cause the China Provident, Loan and that has played its part. There is Mortgage Company, Limited, which always a certain amount of friction is to be presented at the ordinary annual mecting to be held at noon and disturbance in bringing new taxes into operation, and I do not on Saturday, May 14th, states: think you have helped yourselves to face the initial difficulties in the best possible way.

Now let us see what has been the effect. Opinions differ about this, and I cannot expect that you will agree with the view which I take on the evidence supplied to me.

First, the tax has not seriously injured racing. I am informed that at the sales in the autumn blood- stock realised the highest records that have ever been known.

is considered doubtful, the year's that he would continue to support working shows a lose of $74,700.37. the Governments on the spot po The following adjustment is con-long as they had reason to fear the sidered mecessary: Transfer to risk of murderous outragen if the Heserve for Bad and Doubtful meu were released. Loans $283,428.13," Debit Balance of $208, 123.50 which, creating a

together with the balance (adjust ed at the annual general meeting held on November 12th, 1920) from last year's account, leaves à nett deficit of $2,981,235.

Financial Burplus. Turning to happier themes, Lord Birkenhead spoke with gratification of the South African-Indian agree- There is no doubt that statistics

meat, in which he was careful to insist that neither side had gained show a considerable decline in at

any advantage. Finance gave himi tendance fat race meetings], but Directors-Mesura. A. L. Alves further cause for congratulation. there are several causes which have and T. B. Wilson have been invited India, which in his view could not

Board, and to join the

their fail to benefit from the stabilisation led to that. No doubt the betting

appointment requires your con- of the rupee, had, for the fourth tax is one of them. But, in our firmation. Under the Articles of year in succession, a substantial opinion, the industrial depression Association Sir Robert Ho Tung surplus, with another in prospect, caused by the aftermath of the re-and Mr. C. B. Brooke retire, but evidence of sound finance. In de being eligible, offer themselves for fending the proportions of the cent coal dispute has had a far more re-election.

Indian Army, he showed how a just serious effect than the imposition of the tax. The weather is evident ly à more important factor than either.

We consider that the only pos- sible test must be the flat racing season which has only just begun.

Lincoln Attendance.

The Lincoln meeting, according to the Jockey Club figures of this year, had an attendance of 0.5 per cent. more than the one last year.

We do not believe that any evi dence has been yet produced which proves that there will be a great diminution of attendance, and we are sure that conclusions can only he reached after a trial during the Bat-racing season.

Alleged Evasion,

and

Auditore.-The accounts have appreciation of requirements could been audited by Messre. Linstead only be gained from the broadest Davis and Messrs. Percy review of Imperial policy, while at Smith, Seth and Fleming, who the same time he repudiated vigor offer themselves for re-election.

ously the suggestion that the Army was in India to serve other than India's own interests.

For any part I claim that we must have an opportunity of seeing the tax at work under good conditions during the flat racing season before can in any way decide whether a change is needed, or in what direc tion that change should be made.

What I strongly urge and strongly advise is to give the tax a fair trial over the flat-racing season or large part of it..

a

-Lord-Reading's Testimony-To-

Improvement.

Lord Olivier's hinted suspicions that the Indian Constitution had

As

already failed, evoked an impressive protest from no less an authority than the Marquis of Reading. one who was Viceroy in the days when its fate trembled in the bal- the ance, Lord Reacting asked House to picture the immense im provement in India's situation. At If it is found that there is an this moment, he declared, every- injury to racing a measured by thing seamed to point to a peace- attendances. Then I shall be willful development of constitutional ing to reconsider both the method government, which, bearing in mind and the weight of the tax in the the position from which it started,. light of the experience which will could, besiti to “have achieved have been obtained

something remarkable.

You have spoken upon the ques tion of evasion-that betting in

I have given a great deal of being rapidly transferred to illegal thought to the questions of the channels. We have no evidence totalisator and of legalising cash that there is any noticeable transfer betting by post. I do not believe that the totalisator would neces- to illegal channels.

sarily be so disadvantageous to the The Post Office state that there book making fraternity as it is some is no appreciable change in the times represented, and I am cer. volume of telegrams that they are tainly bound to tell you that opinion called upon to deliver. We shall be is gathering much more strongly in able to see in the flat-racing season favour of it, then was the case last exactly what the facts are. We do year. not expect any appreciable diminu

tax

EXPERIMENTS ON DOGS.

B.M.A. CONFERENCE OF EXPERTS.

Is the use of dogs for experi- mental work in medicine necessary sad désirable

submitted to a conference of medical Resolutione in the affirmative were

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and scientific bodies which was re- tion in the receipts of entertainment high authorities who a year ago Association.

I am surprised to find how many gently called by the British Medical were opposed to it are now urging The conference was asked to ex- We estimated that up to March strongly that it should be adopted. press the opinion that the existing 31st, tre end of the financial year, Of course it would require an law should be altered so as to per- £1,500,000 would be received by the alteration of the betting laws, and mit, under proper restrictions, of Exchequer; actually about half that that is not a subject which could be the use of some of the stray dogs sum has been received. But there dealt with in Finance Bill.

which are now destroyed in the were no materials available upon

It seems to me illogical that a lethal chamber, which to base an exact calculationman may send a telegram making Lord Dawson of Penn, 81r

We formed the conclusion that the a bet or may send a cheque paying Holbert J. Waring and Sir Thomas THERAPION NO.2HPORTS of Abe MEETING

the year. We still believe it will not send a postal order or a half. yield a very large proportion of that crown with the wager. That, again, is a matter which could not be (Continued on neat column). Included in a Finance Bill.

[M.P.D.]

122002.

SHER-PADNOU SMÚND 1.

THERAPION NO 1

THERAPION NO 8 of the speeches were to express the Le 21adday Osanak. views of the physician, surgeon, researcher, general practitioner, and the veterinary surgeon.

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