1930-07-08 — Page 5

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HONG KONG DAILY PRESS, TUESDAY, JULY 8, 1930.

NEW COMPANY LAW

IN SHANGHAI.

DETAILS OF PROPOSED FEES.

UNCERTAINTY AS TO PROVISIONS.

It has not been possible yet, says

SHAMROCK V. WILL |

DO THE TRICK."

SIR THOMAS LIPTON DELIGHTED.

NO WEAK POINTS IN HER HER DESIGN,

COMMUNIST PARTY'S

CONGRESS.

OPPOSITION "LEADERS SUPPORT STALIN.

(UNITED PRESS.]

Moscow, July 1-At the sixteenth Sir Thomas Lipton has been talk-congress of the Communist Party the North China Daily News ofing about Britain's chance of winef the Soviet Union the leaders of June 2, to obtain any definite inning the America Cup this year. the Opposition, Comrades Tomski, formation with reference to the new with Shamrock V. When told that Rykov, and Uglanow, announced Company Law under which the after her third successive victory that they had rallied to the deci Special District Court in Shang in the race from Harwich to South- sion arrived at by the majority of hai has acted in refusing to hear end a well-known yachtsman said the party, and approving Comrade Their chief asso- cases brought by Japanese com- that it, he had designed her there Stalin's policy. patica on the ground that they had would not be a hat in England big ciate Bucharin was, however, pre- Sir vented from attending the congress not registered with the Chinese enough to go on his head. Government.

Thomas remarked: A Cup that on account of illness." has been in America 80 years would surely like to come back over here for a change if only for a week!".

Apparently the Law is based on an enactment brought in six years ago which compelled all Chinese companies to register, but, if so, it will be seen that a higher scale of fees is now" asked for. The law of six years ago laid down that the registration fee for a company with a capital of 83,000 or under should be 810 it a private concern, or 820 if under the limited liability ordin- ances. Apparently the new law bas increased this by 50 per cent., as will be seen from the table publish- rd below. No definite information is yet obtainable as to the basis on which the capital of any foreign Arm operating in China is to be assessed-whether it will include capital abroad-but it is harned that the charges shown below, have to be paid yearly.

In the past thirty years he has spent half a million sterling in five challenges to the best yacht Amarica can build. Now, at the age of 80, he is to try again-in September. The defender of the Cup is not yet known; the Americans intend to choose her from at least four new yachts that have been built.

Several times as we talked Sir Thomas jumped up from his chair in the library to glance through. Erin's ports, where tall sails filled out and glided slowly by as one big yacht after another got under way.

Hia Greatest Hope.

He is more. hopefull of winning the America Cup this year than at any time in his life. He was full of praise for American sports-man- ship and hospitality, and is look ing forward to meeting many old fol-friends on the other side of the

Scale of Charges. The seal of charges, is as lows:-

"LIMITED LIABILITY COMPANIES. Capital up to Registration fee

8

5,000

3)

10,000

00

30,000

20

30,000

"190

100,000

130

200,000

180

375

4.30

600

730

900

300,000

1,500,000

2,000,000

་ 3,000,000

4,000,000

For each $1,000,000 over

84,000,000

2 2 2 2 2 2 3 28. 2

130

COMPANIES (NOT LIMITED).

#

5,000

10,000

30,000

50,000

100,000

300,000

62898289888869 C

500,000

120

800,000

150

1,000,000

1,500,000

2,000,000

* 3,000,000

4,000,000

For each $1,000,000 over

$4,000,000

300

375

452

75

U.S. FEDERAL POWER COMMISSION.

MAJOR-GENERAL JADWIN AP POINTED. CHAIRMAN.

(UNITED PRESS.]

Washington, July 1-President Hoover announced to-day the ap- pointment of Major-General Edgar Jadwin, retired, as chairman of the reorganised Federal Power Commis

sion.

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General Jádwin is an engineer of long experience. As a colonel of engineers, he organised and com- manded the 15th U.S. Engineers, under arms through England in 1917. He was director of light rail- ways and roads, and later of the general construction programme for the A.E.F. in France. He was a member of the American Commis sion to Poland in 1919.

Since the war General Jadwin has been associated with numerous im portant engineering enterprises in- cluding the St. Lawrence Waterway Project.

General Jadwin is a native and resident of Honesdale, Pennsyl- vania, a graduate of the United States Military Academy, and an Honorary Doctor of Engineering from Lafayette College, Easton, Pa., where he was once a student.

THE INTERNATIONAL HORSE SHOW. GERMAN OFFICERS TO COM- PETE AT OLYMPIA. Berlin, July 1.-For the first time since the war Germany will acnd to London an officers' team to take part in the competitions at the Olympia International Horse Show. The five officers selected will take with them a stable of nice horses.

water.

Sir Thomas said that the trials of Shamrock V. had revealed "no weak points in her design. It was the design 8 a whole and not single features, such as the absence of a bowsprit, which give her the tura of speed with which she show. ed a clean pair of heels to some of the fastest yachts of the king- dom.

"I like to judge by results," he said, "and think it is a fine in- dication of what she can do in beating these yachts although carry- ing much less sail than they did.

"I think she will do the trick. on the other side of the water.".

During the conversation & Cing. alese servant came in to attend to the stove. He was dressed in a na tive cotton sarong and small jacket, with his hair done up elaborately under a horseshoe-shaped tortoises hell comb.

This led Sir Thomas, who has three Cingalese menservants, to talk of his early days in Ceylon. It was there that he laid the foundations of his fortune in tea, odd as it may sound, by buying coffee estates for an old song" as He put it.

"I first went out to Ceylon as an expert tea taster," he said." After a time I formed certain opinions about possibilities there and I be gan to buy plantations, at first for the banks, then for myself.”

He mentioned several of his old friends, in particular, the Empress Eugenie of France and King Ed- ward who frequently was aboard the Shamrocks. The Empress was 84 when she travelled with Sir Thomas to Colombo.

A Wonderful Personality. "She was one of the most won-

derful personalities in the world," he said. "She came to me and said, "I would like to go out to Egypt once more; and I will go I have if you will accompany me. not seen the Suez Canal since I opened it in 1883.

to go; we "I at once agreed went out as far as Colombo, and she visited some of my tea estates..

"Sir Henry McCallum was gover- nor in those days. When I called on him he said: 'I have heard you own this entire island.' I told him it was nothing like true but that I had wisely invested a little money in its up-country estates.

"I would like to see Ceylon again, and if I bring back the Cup to England I will celebrate the event by going out there for an- other trip. It is a very beautiful island, with a lovely climate. I remember when its tea output was less than 20,000,000lb. a year; to-day it's ten times that amount.

"One thing I have always wanted to do-to teach the American, how to drink tea-so few of them know how to brew it, unfortunately."

SINO-AMERICAN TREATŸ.

[UNITED PRESS.]

Washington, June 27-Dr. Wu Chao Chu, Chinese Minister, to Washington, and Col. Henry L Stimson, Secretary of State, today. signed a Sino-American Treaty of Friendship and Arbitration similar in its general terms to a score of others signed by the United States during the past few years.

ITALIAN OFFICER

MURDERED. OUTRAGE BY ALBANIAN

SOLDIERS.

5.

AMERICA'S CLAIM IN

ANTARCTIC.

(UNITED PRESS.)

Washington, July 18ecator Tirana, June 28-The Italian Millard E. Tydings, Democrat, of offeer Chesti; chief of the Italian Maryland. to-day offered a resolu- tion authorizing the Secretary of military academy in Seutari, was to-day assassinated by Albanian State to claim for the United soldiers, who afterwards caped States the, antarctic lands discover- into Jugoslavian territory. The ed by Rear-Admiral Byrd. Senator crime has created a big sensation Fydings justified his resolution on and will, it is feared, have serious the grounds that these lands may repercussions in Romae and Bei-Be extremely valuable in the future. grade.

CHEAPER PASSPORTS IN

UNITED STATES. Washington, July 1.-President Hoover has signed a hill reducing the cost of a United States pass- valid for six years. Each passport port to six dollars and making it must, however, be renewed every two years; otherwise it will lapse and Eeeme invalid.

AMERICAN TREASURY

•'nounces

Д

SURPLUS..

Washington. July 1.-The Unit

surplus for the ed States Treasury Department an

3181,000,000. This amount is less fiscal year ending yesterday "of 81,000,000 than the surplus for the previous period ending June 30,

1999.

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