1927-07-04 — Page 3

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We are remaining here for a short season longer. ISAKO'S CIRCUS

NEW RECLAMATION GROUND

PRAYA EAST, WANCHAI

TO-NIGHT

PRICES OF · ADMISSION REDUCED

Box 6 Persons......$12.

1st Class Chairs ...$ 1.

Single Box Seat .. $2. Gallery....... 50 cts.

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EVERY

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at 4 p.m.

CHILDREN HALF PRICE.

COME AND SEE

THE CIRCUS

POST CARRIER PIGEONS.

At every

In commemoration of the visit of ISAKO'S CIRCUS to Hong Kong, free prizes will be given away. performance, our carrier pigeons will be let off in the centre of the ring and the persons on whom they alight will be the recipients of the following gifts:-

GOLD WATCHES, RINGS, BRACELETS.

AND MANY OTHER VALUABLE AND USEFUL ARTICLES.

Cut and bring this slip to the circus ticket office and you will obtain your ticket at a special rate from 30 cts. up.

RIGAUD PARIS "MARY GARDEN”

Famous Dainty Perfumes.

USTAINABLE FROM

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THE SUN CO. SINCERE CO.

THE HONG KONG DAILY PRESS, MONDAY,

and all Drugs and Chemist Stores.

AGENTS:

VICENTE ATIENZA & CO. No. 64, NATHAN ROAD, KOWLOON

TEL. K. 155.

THE STRATEGIC CHAIN.

PEACE DISPOSITIONS OF: OUR FLEET.

MEDITERRANEAN REGAINS ITS OLD IMPORTANCE.

BATTLESHIPS AND THE SINGAPORE BASE.

(BY SIR HERBERT RUSSELL.)

I suppose it is permissible to apply a term usually associated with army strategy to a correspond ing principle in naval policy. There fore, I am referring to the Mediter ranean as the interior line." I line of more than admit that a 2,000 miles in length means rather stretching the definition. this case it is the idea which matters more than the specific or even the strictly legitimate appli cution of it.

JULY 4th, 1927.

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

·A.K. Bask

Do

7.

JULY 2ND

|$1,067) bay ..

1,075 ul. Ba. Do

London...£118 nomi. Chartered Bank£20 nom. Mercantile Bank, A. &B...£303 noma. ...£13) com. P. & O. Bank.£9 BY. Fast

Двій Bunk ......$6e home. Canton Insurance.........$620 sel. China Underwriters......$0.80 nom,

Tle. 148 buy. Rather were the immediate por North China Ins.

......$280 nom. tents in the other direction. She Usion Insurance

Yangleze Insurance ....... $40 now. was Snancially stricken by the way, Chins Fire fuanrance...8210 bug.

sex power & Hong Kong Fire Ins.......$800 sel. and with Austrian

Douglasen corpse there was no positive objee-Steamboats. five for her to respond to.

Meats bew

Gibraltar To Singapore. And yet the Admiralty determin- But ined that the Mediterranean remain ed as much our chief strategic zone as in the days when it was easy to indicate very definite reasons for this conclusion. The great. Sing: pore scheme (by no even thea) came into prominence as a concrete proposal, and a some what sketchy and decidedly am- biguous description gained popular

strategic chain vogue of a great stretching from Gibraltar to Singa Of course, it is true that this chain

represents the greatest and most important of the Lanpire's

A good many years ago, and well befuce the German menace had reared its, head above the horizon, the late Sir William Laird Clowes started, and milätained, a consider able controversy upon the question of either the strategical wisdom or the economic justißeation for keep

buy. aeli 30 nom.

Hong Kong Tugs Indo-Chinas (Pref.).......$30 nom,

(Def.) $60 sel.

Do.

Shell Transporta Star Ferries..... Waterboats.. China Sugara..... Malaben Sugarn Benguete........ Kailau Mining Ad...... Langkats (combined)...

Shanghai Loan 8h. Explorations Baub...........

Tronoh Mines Ura) Caspians H.K. & K. Wharfs H.K, & W. Dock.......... hongkewe.......... Now Engiusoringu..

w Shanghai Dock

&S. Hetole Lands

ing such a large proportion of trade routes. It could be blocked *****

British

#5

98/-nom

..861 buy., 52 sel. $16.20 buy. 518 zel.

32 nom.

$1.20 buy. 40% buy Tle. 20 nom T. મા 1. 3

nomi

nom. .Tla. 7 con.

$ nom. 19/3 nom. 8/ nom. $108 bay. $38 nom. Tla, 145 buy. T. 5 nom.

116, 97

Kong Realtys... Territorials Humphreys Estates Prince's Buildings...

$6.90

$651 buy. $6 Bul.

до

$12. nom.

100 sel.

$89 nom. $1, nom. Ewo Cuttons Tis, 2.10 nom. **************. 7.35 nom. Tis.

Shanghai Cottons (old).... 62 buy..

Do. (neile. 26-buy. China Buses

.............11a. 7 buy, There-HK. Tramways...$340.56 hug. 20

,20.80 sel. Peak Trams (old) $16

.Do, (as).......$5 sel. Singapore Tructing...10,8 bay, 11/- gol.

Tax...........

nt Gibraltar by any enemy which permanently gained power sea

even temporary command of stationed in the Mediterranean, the straits, or it could be blocked at Suez. It could be threatened on The Atlantic Fleet, originally based

the flank by any naval force al-Hural Lands on Gibraltar as a sort of connecting ready established in

the Middle link with the Mediterranean- and'

Sen. Beyond Suez it could be Orientals Home Forees, had not then come

threatened by any power with into existence, and the disposition forces and bases in the Pacific. of our striking strength was

Battleships could never be used follows: Mediterranean, 15 battle to threaten trade routes. ships, all of the latest classes; before, it may be asked why do we waters, the Channel Fleet. 8-battle-

want to employ the bulk of our hat- ships, and the Home Fleet, in which tleships in guarding this strategical the old Royal Sourreign class chain? The answer of those who were the only battleships of (doubt seek to justify the continued exis- ful) first-line value (and which, intence of the capital ship will be fact, was created by the process of in order to cover the protective ac-

eliminating correspondingly

the tivities of our lighter forces. In Reserve Fleet); China, 0 battleships other words, the First Battle Squadron at Malta would render it of the Glory class and two

am not the Barfleur class. I

cumparatively safe for our cruisers extending the comparison to other to work in the Gulf of Lyons or in types of warships. In those days, the Levant!. very much more than now, the battleship was the material expres- sion of distrimtive policy. then had in full commission four hattle fleets, shortly to be incroneed to five by the establishment of the Atlantic Floet. The Baltic Fleet" was an afterthought, a sort

forlorn hope" created by a plying the nucleus crew system to a collection of obsolete craft which, as far as I remember, never left their dockyard basins.

of

Malta Too Far.

of

We

Employment Of Post War Fleet? Flect?

most

or-

Do. Do.

Do.

Şi num.

buy.

Amusements.............. ..$19 nom, Canton Ices

..$5 uom, Dements (combined)......$7.10 buy.,

7.20 sul, (old)......$6.60 noni. hina Lights (cont.)....$14.aci.

(now)....i sel, (old)$10 nom. Do. (new)......87) com Chipa Provideats .........844 Constructions Dairy Farms Der A Wings H.K. Electrics Macao Electrics H.K. Rapas (old)

Do.

(DOW) Lane Crawforda.... Mackintosha......... Minceres

...$2.30 ROM. ..$18

now, 36 nom. $1.60 bay,

$35 buy

$10

, 52.15 Bol.

nom.

Şu nom. .87 Boi. ..8194 nom. $ com. $20 nem. United Asbestos... Watsons (old)...... ...Sil¡ nom. Wm. Towells... $6 nom. Telephones..............$3.70 mùm,

buy-bayers; solellers; salos nominal:

Let us look at it in this way. At the end of the Great War the British Navy remained the powerful fighting force in the world. The British Alercantile Marine re- mained the largest commercial ganisation in the world. The de- bendence of this couutiy upon the sea remained as it always must re- main-wholly unchanged,. which meant that our need for a para mount navy remained unchanged. The contention of Sir Laird. In the early joy of peace moat Clowes was that this disposition thinge were of vague, indefinite pro of sen power represented an inver- portions, but the necessity to main- sion of right principles. It was tain a supreme navy was as clear- Then came the exaggerating the importance of the cut us of yore. Mediterranean at the expense of question: what were we to do with the importance of the Narrow this navy! How were we to so Seas. Franco was still our heredi- employ it as to get the best mea tary objective, and she could sure of diplomatic value out of it anenace this country in the Charinel since there was obviously no hostile very much more effectively than in objective to which to respond? the MediterrADCAN, Therefore it took the Admiralty about five seemed reasonable to argue that years to give a definite answer. our primary Fleet should be in During this time the Atlantic Fleet, home waters, and not based on which had replaced the old Chan- Malta, 2,000 miles away. Natural-nel and Home Fleets, remained the ly this thesis furnished fine scope premier force. The canie a rever- One school de- sion to the pre-German menace for controversy. monstrated quite convincingly that policy, and the Mediterranean re- the distribution of naval force then gained its old naval status, existing was the best possible, and day the British Navy dominates the ON that the Mediterranean must al interior water line of Europe. But ways remain our primary focal it dominates it passively, and not

** answer to any existing. OF zone. Another school showed, as an equally convincingly, that with naval or political situation. France, Germany, and Russia very short, since we have to keep our much inore contiguous to the Nar fleet-in-being somewhere, it could Seas than to the Mediter not be better stationed than us at Personally I believe the ranean (omitting Toulon and the present

TOW

To-

1.

EXCHANGE.

ULOSING QUOTATIONS.

July 2nd, 1927. ON LONDON.e

Telegraphic Transfer

...21.

Bank Billa, on demand 2/0 1/16 Bank Bills, at 30 days'sight Bank Billa, at mouthsk

PA

night

at 4 months' sight 2/1′′ 1/16 tury Bills; months' sight...

2/01

4

... 9/13/16

1,240

Bank Bills, on demand Credits, 4 months' eight... 3315 NEW YORK

Bank Bille, on demand

On

BoksAT

488

at 60 days' sight... 501

Talegraphic Transfer Bank Billa, on demand...) 134

Black Sea from the idea of direct Baltic is more likely to become O Telegraphic Transfor...!

WAB

lively in the future than the menace to British shores) it obviously the proper doctrine to Middle Sen. But there is no need keep our most powerful fleet in the for us to step into that galley. Trace our Baltic trade is considerable, bui Channel: What might be called a

a policy of non-interference in any third school, including the Cabinet and the Admiralty, paid no ap-disputes which may beconic acute in that sea is much better calculat parent heed to the other two until the contention of Sir Willisoned to result in non-interference with

O Bak Bile, on demand....

SHANGHAI

Bank Bills, at sight Envate, 30 days

aight

1348

Nom.

OF YOKOHAMA On demand... 1024

ON

MANILA-On demand

ON SINGAPDEs.On demand...

OS BATAVIA,On demand

99

881

D

121

Laird-Clowes became effective for that trade than if we should con81 ON HAIPHONG:---Ou domand... nom.

a reason which he had not foreseen, or at any ratè laid no stress upon, at the time he started the contro- versy.

The Post War Era.

der it a strategic zone.'

981

ON BAIGON. On demand ON BANGKOK-On demaad SOVEREIGN, Bank's Buying rate 89.65 GOLD Imar, 100 fine, per fael... BAR 8LVER, per oz.

28 1/18

Pacific Battle Fleet. Italy is just now pursuing a policy of imperial aspiration which may conceivably lead to disturbing the The end of the Great War found existing equilibrium in the Meditor- completely new situation in the rancan. But these aspirations, 80 Mediterranean France, the tradi- far as it is possible to gather the tional enemy of England, had be aim of them from the somewhat and this as the result of a tour come our very good friend, and grandiose patriotism of the Fascist expressly taken to advise the Ad whatever the degres of sincerity Press, need not ruffle the waters of miralty as to future strategical dis-

strategic chain." There tribution. our own

I must confess that which underlay this rapprochement,

is another and a wider aspect to be commonsense had come to the sur

in the posture of world afsirs face, and instead of perpetually considered in relation to the Medi- either then nor now has anything considerations seemed to me to justify this advo seeking something to quarrel about terrane we agreed that quarrelling was not which led to the decision to create cacy. But the strategic chain'" first-class base at Singapore must (sketchy as it is) must represent a necessary condition to national &

idea necessarily visualise the possibility

ཝཾ

The

existence. Therefore the basic idea of having to utilise that base. a sound doctrine if there is any

of our great naval concentration วน

Battio Fleet. the Mediteranean had virtually die would seem rather absurd to build thing at all to be said for a Pacific As a political gesture the deci appeared Austria had gone out of a battleship base in the Pacific and

keep all our battleships at home. ion to attach the two Nelsons to as a sea power altogether, So we are, maintaining our premier the Atlantic Fleet is good. business

It im- and very· much the same thing might be said about Russia, the feet, as sent the Paciens it is plies that there is nothing of the remains of her Black Sea fleet bay possible to station it under the pre-mailed fist sentiment in connec- ing been scooped into Bizerta. sent organisation of bases, and this tion with the Mediterranean Fleet. Italy, freed from the conditions on the grounds of simple con- We are simply minding our own which had so long tied her to the tinuity of policy, so that no nation business in the Mediterranean. It ai ausceptibilities can be touched.

local sea and is no nation's is not Adriatic, bade fair to stretch out Nowadays any ship in the British her naval power. But in pre-Mus

particular littoral, therefore we Navy can pass through the Suez have quite as much right to main- solini days, when the Admiralty Canal, as I can vouch from twice tain an armada in it without ques woro contemplating the new naval orientation with a view to deter having been through it in a 32,000-

In 1910 Earl frontiers are lapped by its tideless tion as any of the countries whose mining the future distribution of ton battle-ertiser.

Jellicoe proposed that we should

did not keep Waters. And if we Ben trength, there was no reason establish a Pacific Battle Figot that armada there, where could we to, suppose that Italy would enter

andre usefully dispose of it? (Continued on next Column). "

ipon an era of naval expansion.

A Romance of Folly that was Wise! The Story of a Vagabond PoetTM who was loved by the proudest Beauty at the Court of a foolish king!

The Beloved Rogue

with

John Barrymore

as Francois Villon, a rascal whose wit bas achieved. Immortality

Gorgeous Scenes ́.

**

In Medieval France! Humour That Lives

After 500 Years!

A United Artists Superproduction Shown at 8/6 in London, $2 in New York HONGKONG PRICES

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Usual Prices

EXCHANGE RATES.

(BRITISH WIRELESS SERVICE.)]

: 1/6.51/04

Bombay Hong Kongmoney 2/01

Silver spot & forward 28.1/16 New York

Geneva Málan

Stockholm..................

Vienna

Helsingforsun. Lisbon.......

4.85.10/32

Roanr, July 1st.

Paris

124

25.23 874

Brussels....

34.01

12.12

20.45

18.17 24:821 192.801

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103

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Buenos Aires Shanghai

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1/10/23