1928-12-05 — Page 5

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STAMPING OF SHARE TRANSFERS. CHINESE BANKERS AND MERCHANTS UP IN ARMS

AGAINST AMENDMENTS.

GENERAL CHAMBER OF COMMERCE ASKED TO JOIN IN PETITION TO GOVERNMENT.

The proposed amendments in the law relating to the stamping" of share transfers which the Government is to introduce to the Legislative Council are causing no little anxiety to Chinese banker, and business mer. Yesterday at the monthly beeting of the Chinese General Chamber of Commerce, a vigorous protest against the proposed amendments was entered by the Chinese Bankers Association. This protest was echoed by, all the commer......____ cial magnates of Nat-Pak Hong. Many views were expressed, and it - was unanimously declared that if the proposed bill is put through, business in the Colony would be impossible.

The proposed bill, which was first mooted in 1921 and eventual- ly kept in abeyance on the advice of the late Mr. Stephen, Chief Manager of the Hong Kong and Shanghai Banking Corporation, has already roused the indignation of local European share brokers. They are determined to fight the amendments, and it was suggested that Mr. F. C. Fenkin by briefed to plead their cause before the Council. They will, therefore, be glad to know that the - Chinese bankers and merchants are with thest in their fight against the bill. The awo Chinese members of the Legislative Council- Sir Shou Son Chow and the Hou, Dr. R., Kotewall-are to be asked to vote against the proposal,„, e There was a large number of Chiese, bankers and merchants al the monthly meeting of the Chinese General Chamber of Commerce held yesterday afternoon. They were there specially to disenss means of fighting the proposed amendments to the law relating to the stamping of share transfers which the Govern ment intends introducing to the Legislative Council. Mr. Li Yau Ten. Chairman, presided.

Banker's Protest.

Commenting on the foregoing. Mr. Lo said that business would be

person who transfers to any other person any share which is on a share "register, which is required by law to be kept within the Colony shall forthwith make and execute an instrument of transfer of such share, which transfer shall contain the true date of the execution of the transfer." Another clause pro- vides that" No person shall accept transfer of any share on a share register which is required by law to he kept within the Colony unless A letter was read from the the instrument of transfer purports Chiarse Bankers' Association to contain a statement of the ente which they protested against the of the execution by "the transferor

Several proposed bill.

reasons and is duly stamped with the ap were given. The letter stated that propriate transfer duty.”. merchants had not recovered from the effects of the General Strike, business still continued to pressed and this year was the worst above. If every transfer of shares year that merchants have had dur- had to bear a changed name on the ing the last forty years. The pro-scrip, na businese could be done! posed, bill, would seriously affect If the measures were intended to hankers and merchants. The letter prevent the evasion of Estate duties, concluded by asking the Chamber to he said, there were more ways than join them in a protest and also toepe of cheating the Government un- Zolid the sympathy of the two der their system. Such measures Chinese members of the Legislative jonly tended to minder the commerce Council.

f the Colony. He instanced the half paid up shure. case of a it this was bought by one party who later had occasion to mortgage to another person; and if the transfer had to be made out, by a deed of transfer and stamped, the mort gagee might be bid to pay up the her half of the share whenever the company had occasion to call for it.

THE HONG KONG DAILY PRESS. WEDNESDAY, DECEMBER 5th, 1928.

SHOWING THE «CHINESE - FLAG.

PROPOSED VOYAGE OF TWO WARSHIPS.

TO ENCOURAGE OVERSEAS CHINESE

ROUND THE COURTS.

THE ALLEGED ANKING" PIRATE.

"SEASICK PIRATE" COM. MITTED FOR TRIAL.

ATTACK ON A RICKSHA PASSENGER.

ROBBED AND WOUNDED.

ALLEGED ASSAILANT IN THE DOCK.

A Chinese was charged before Mr. E. W. Hamilton at the Kowloon

Angistracy yesterday Afterno with taking part in an armed at- tack on & Chinese, named Ng Shing Hong, in Prince Edward Road, Kowloon Tong at 1.30 1.1. on November 19th. The defendant pleaded not guilty.

At the Central Magistracy yester Admiral Chan Chak, Commander day afternoon further evidence was of the Canton Squadron, is organis, given by police witnesses in the ing a flotilla for dispatch to places case in which a Chinese stands abroad for the encouragement of charged with participation in the Chinese overseas. To this end it piracy of the s.a Anking. Defen- jank at bas been decided to refit the gun.dant was arrested on boat Feiging" and the transport Lyeemua recently and was found in Funk like-fatter-to-be-convert-possession of a large sum of money-In outlining the case-for-the-pro- ed into a training shin. A certain and articles of jewellery. number of officers will be selected from amongst staff members of

Detective Sub-Inspector Dorling stated that he carried out investiga: tions on the vessel and showed the jewellery to the crew, but nobody claimed any of it.

Naval Headquarters and from amongst gunboat commanders and they will receive the necessary training in respect of the control of this proposed flotilla for overseas Mr. T. Murphy, Assistant Direr I duties.

tor of Criminal Intelligence, said The matter was discussed at a that he advertised in the Chinese meeting held at Naval Headquar-newspapers for Anking passengers ters on November 30th, and as a to come and identify the articles, result a resolution was passed that there had been no response the question he attended to accord- Witness gave details of identification ingly. Representatives were sent parades when the prisoner was to Hong Kong on the same day to placed amongst others similarly inrise tenders for repairing the dressed. The second compradore gunboat Felying upon receipt of picked out the prisoner at occe as which a request will be made for the pirate who was sen sick and the appropriation of the necessary witness also said that the man was funds. The main features of the seen in the Chinese saloon several plan espoused by Admiral Chan times armed with a revolver. The Chak, covering the organisation of wireless operator and two cabin the proposed Botilla are as fol.

bays also identified the prisoner. lows

Defendant was committed for trial at the next Criminal Sessions.

THE CANTON FUGITIVE.

Proceedings against a Chinese, authorities on charges of kidnap is wanted by the Canton ping and holding for ransom two SODS of a Canton money-changer closed at the Central Magistracy yesterday afternoon before Mr. R. E. Lindsell when the man was com. mitted to prison pending the de.. cision of the Governor in Council.

The prisoner still maintained tha: he was wrongly arrested and was not the man referred to in the charge. In protesting against the

Loyal Nationals Overseas,

Owing to the unstable condi tions prevailing in the Republic during the last few years, the Goy ernment has found it impossible

overseas

hitherto to carry out the necessary reconstruction measures. Now that the whole country has been unified, and military operations have end ed the Government is vigorously proceeding with all sorts of reforms for the good of the people. It has also been found necessary that something should be done for the

the encouragement of Chinese, It will be remembered that in the establishment of our Party our inte Director, Dr. Sun help of overseas Chinese who ren dered valuable services in the re- peated revolutionary movements by tontributing funds, affording sup plies of arms and munitions, and propagating the Party principles, They never felt reluctant even to give up their properties wholesale for the purpose of coming to the aid of their country and to work for the development of our Parts.

who

secution, Detective Inspector Falton told his Worship that the complaint ant engaged a ricksha in Yaumati on the night of November 12th to take him to his residence at No. 184, Kowloon Tong. When about 200 yards from the Railway Bridge just South of Kowloon Teng four men coming in the opposite direction suddenly closed in on his ricksha, and upset the vehicle and attacked the complainant. Three of them tackled the complainant, while"an- other drove off the ricksha coolie who quickly disappeared. The com-" plainant states that two of the men had knives, but the prisoner, who bad hold of him by the neck, did Eot have any weapon. In the struggle the complainant was stab- led in the thigh.

Articles to the value of $61.73 were stolen and when the robbers had fuished with him the complainant went home, had his wounds dressed and then reported th" attack to the the lighting system of the road. Police Station. Commenting on Inspector Fallon remarked that it was very good, with strong- øver-

hand lights at the side of the road.

The Arrest Of The Defendant. The next morning, the 13th, in- formation was received and a Chi- nese detective went to Pakhoi Street in Yaumati where the prisoner. was pointed out to him. He went up and detained the defendant and on

be de impossibir under the terris stated Yat Seh, depended much upon the "xtradition to Canton, prisoner said searching him he found a pipe, and

Mr. M. K. Lo's Views. Mr. M. K. Lo was invited to give his views on the proposed amend ments. He said that he had already been asked to draft out a petition to the Government which would be all the signed by netically Chinese bankers and merchants of the Colony. He had already in- timated to the Colonial Secretary that a petition would be sent and had requested him not to proceed

More Difficulties,

Mr. Lo then went on to give

Previous Voyages.

that he was for several years em-

Ployed at the Kowloon Godowns and further enquiries should be made regarding him. If bis pre- sence was not desired in Hong Kong he should be deported and be given the choice to say where he should

be sent.

handkerchief which were Inter own property. A silver wrist watch identified by the complainant as bis was recovered from a Chinese pawn- shop and also recognized, by the complainant as his property.

The Identifcation Parade.

An identification parade was held by L. H. C. Calthrop, A.S.P., and only the complainant succeeded in The pointing out the prisoner. Ficksha" coole, and the Chrizese pawn broker, failed to recognize him. The silver wist watch had

TRAFFIC OFFENCÉS,

-Major C. Willson dealt with two cases of negligent driving among the weekly list of traffic summonses. la supporting the charge of negli- been pawced at 8 a.m. on the morn-, gent driving at Leighton Hill Roading of the robbery, but the pawn

broker could not remember the per against the driver of public car No. 451, Sergeant Brown stated son who pawned it. When formally that the defendant was driving on charged the defendant said that he the right hand side of the road. had nothing to say and further that he took a corner without sounding his horn which nearly resulted a collision with another car. Defendant was fined

15.

A similar fine was imposed on. W. K. Fok, an owner driver, for

any further until be bad reciva another example of the manner in greeted upon "ber arrival by the of the" road in the controlled area:

the petition. He had received a reply to the effect that while the

which the proposal would tend to make business impossible. He took the case of a man who, had to get temporary loan from a private friend. He might hand over some shares to his friend as a guarantee of good faith. If that was to taken as a transfer, and it enüld Le said that was, nothing new, nothing else under the new It was first introduced in 1621; but measures, how was the original

Government would consider the petition, it must be sent in at an early date, because the bill was to The introduced the Legislative Council in January, next year.

As to the proposed bill itself, Mr.

It has been the practice of the Governments of the various nations to detail their warships, to places abroad for the protection of their subjects residing in foreign lands, but this has not been the practice of our country which fact has accounted for the insuits hitherto given us by certain foreign Powers. It will be recalled that in the twentieth year of Kwang Suj in the Ching dynasty, the gunboat Yung Wa of the Naval Bureau în Fukten made a tour of the Easters negligent driving, it being stated Seas, and was enthusiastically that he drove on the wrong side overseas Chinese in Manila whose of Upper Albert Road and at ag

that occasion knew no jay

excessive speed. He almost collid. hounds. Later in the third year of Suan Tung, the Manchu Govern

ed with Traffic Sergeant Roberts who was on motor eyele patrol. ment appointed Tsai Chen as Am- bassador, and the late Admiral UNLAWFUL POSSESSION OF Ching Bik Kuang as his assistant. and sent them to England on the

REVOLVERS, cruiser Hai Chi to piler congratula tions to His Majesty King George arrived by the sa President Cleve V. on the occasion of his corona-land was charged before Mr. E. W. tion, and to offer consolation to

of five revolvers and 1,000 rounds the overseas Chinese in Mexico Hamilton with unlawful nossession and Cuba who were being oppress-

of ammunition. ay, the Hai Chi too received a warm welcome from oversens Chi

thanks to the late. Mr. Stephen, owner to get his share bark shoulded at about this time: Needless to Chief Mannger of the Hong Kong the friend happen to be away and Shanghai Banking Corpofa- from the Colony at the time when

tion, it was held back. Mr. Stephen the original owner particularlyness wherever she turned up..

had advised the Government that the bill was impracticable.

The Hun. Mr. Claude Severn, who

was then administering the Govern ment, in dropping the matter had, at the fistance of the share brakers themselves, raised the гate on share contract notes. The rate

was first up from 2 to 85 and then it wens up from 85 to 810, Commenting on this, Mr. Lo said

wanted the shares to sell on n rising marketi

Since then no step has been taken by the Government to send vessels abroad, to the great disappoint meat of the Chinese overseas

A Chinese steerage passenger who

An application for a remand and bail was made by Mr. E. S. C. Brooks for the defendant. Inspec- tor Ogg asked that the case heard before two Magistrates

His Worship remarked that, if might be convenient for all con-

cerned if the case were heard at the Central Magistracy before two Magistrates. As the offence was a serious one, bail would have Le $10,000,

The speaker emphasised the great

Government's Duty. difficulties which would beset all

With the formation of the classes of business men if the pro- National Government, it should be posed amendments--were-enforced the duty of that Government-to

A formal remand was granted He concluded by saying that it send warships to places abroad for. would be advisable for Chinese the consolation of overseas Chinese until to-morrow. merchants to make a strong repre- sentation to the Government against the inadvisability of the proposed

measures.

in view of their past services, in backing up the revolutionary move- In this way, the oversens meat.

Evidence of the identification parade was then given by Mr. L. H. C. Calthrop whe said that the complainant had no difficulty in recognizing his man and went up to him immediately. The ricksha coolie and the pawn broker, could

not recognize the prisoner

Dr. Kwan King Leong, whe dressed the complainants' wound said that there were two wounds, nne a cut in the thigh about an inch deep, and a small serntch.

The case was adjourned..

CHINESE CHAMBER OF

COMMERCE. »

MONTHLY MEETING HELD YESTERDAY.

MORE ABOUT ANTI-JAPANESE

BOYCOTT.

relating to the proposed amend

With the exception of the matter

ments in the law relating to the stamping of transfers of shares, reported elsewhere in this issue, there were no business of impor- tance discussed at the monthly meeting of the Chinese General Chamber of Commerce held yeater- day afternoon.

of

Herrings From Canada.

From a letter read to the meet- ing, it was seen that the pickets the anti-Japanese Boycott reptitiously seizing goods on the pretext. that they have come from Japan. The letter complained

Chinese may be made aware of the NEW SAILORS & SOLDIERS' Society at Canton, are still sur- kind regard in which they are held by our Party and Government, and

HOME.

may be thus encouraged to contri- TO BE OPENED BY SIR CEOIs that a large shipment of salted bute funds and to make invest. meats more enthusiastically than beretofore.

CLEMENTI.

FLE "Furthermore, pur country has

The Governor; Sir Cecil suffered from a lack of men with Clementi, K.C.M.G.. has kindly navigation talents, and if we can consented to open the New Wes- embrace the opportunity of send.yan Sailors and Soldiers Home on the Fraya East on Wednerday, ing shipa abroad to soothe the overseas Chinese, and to enable January 30th, at 5.30 p.m.

Fund.

that if it was a question of revenue,

Will The Chamber Join?: the Government had already profit-

Mr. Ho Iu while associating him- "ed largely, from the increased rates.

Proceeding, Mr. Lo said that the self with the views elaborated hy increased rates were still in force Mr. M. K. Lo said that the latter had already drafted out a petition. and whatever.wusing or selling was being done on the market, stille would therefore like to know helped to swel the revenue. There whether, the members of the Cham ber would associate themselves with was therefore no rhyme or reason for again introducing the amend the petition.

Considerable discussion then en- Furthermore the Govern- Tents,

£250 From Royal Tournament sued. Mr. Li Yau Tsun, the Chair- the personnel of the flotilla to im ment had given no explanation as to this sudden change of attitude-man-aid that-he-fully appreciated prove their seamanship through

the hardship which would 'fall, on' their lengthy voyages, much benefit While a sum of approximately This was to be regretted and he Chinese business men hut he would will be derived from the venture. $20,000 is still needed to complete thought that in fairness to the com-

have to place the matter. before the As the gunboat Feiying is of strong the scheme, it is pleasure to an- mercial interests of the Colony, Executive Committee of the Cham build and is capable of putting out nounce that, as the result of rente full explanation should be given. her before giving a decision one way to sea in alt weathers, it has been sentations kindly made by H.E.

More Ways Than Őre.

or the other,

decided to have her completely re- Major-General C. C. Luard, C.B., The speaker then gave an inter- Other members insisted that a paired, and to send her abroad for C.M.G., who has from the begin pretation of the various clauses in meeting should be called on the the above-mentioned purposes. At ning taken the greatest interest in the proposed amendments. He said spot, as there were a large number the same time the transport Fook the Home., the Army Council has that from the wording of the of members present and their views will be turned into a training authorized the payment "of 1250 amendments, it was obvious that the should be obtained first. After s ship.

from the Royal Tournament Profits primary object was to prevent the lengthy discussion the matter was The selection of crews for the Fund towards the expenses in crasion of estate duties, honos-the-eventually referred to the Execufoils will also be taken in handvolved in building these new pro frat clause which says: Every tive Committee.

rthwith.

mises.”

herrings which had been specially imported from Canada had been seized.

The merchants who had been vie timised implored the Chamber to make known to the pickets that herrings do not come from Japan, and that before seizing goods, it was their boundea duty to ascertain first whether or not such goods-had-come-from-Japan

any

The Chinese Library. The Chinese library of the Cham- her has been established and books to the total value of $1,010 have been purchased. There are others. to come and it is hoped that be- fore long they would have sufficient volumes to fill ten book cases.

In order to celebrate the forma tion of the first Chinese library in Hong Kong, a tea party will he given on December 28th, from 2.30.

to b. p.m.

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