1930-10-16 — Page 5

Nerves

The

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GENERAL

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TONG CONG

HONG KONG DAILY PRESS, THURSDAY, OCTOBER 16, 1930.

THE ZIONIST

CONFERENCE.

"A JEWISH STATE."

The meeting of the General Coun-

CEMENT COMPANY'S

CAPITAL.

SCHEME FOR REDUCTION ABANDONED.

Resolution Carriod. There aing no questions or desire for explanation, I now heg to propose the following resolution as an extraordinary resolution -- "That the provisions of the com. pany's Memorandum of Association with respect to its object be altered Bo na to rend as shown in the print signed for the purpose of identifien-

eil of the Ziorist Organisation which NEW ARTICLES APPROVED BY tion by the Chairman of this Meet-

took place in Berlin. was mainly oc cupied with the question of Brilish policy in Palestine and with the rolations of the Mandatory Govern- nient with the Zionist Executive and the Jewish Agency for Pales

tine.

SHAREHOLDERS,

A proposal to reduce the com. pany's capital from 80,000,000 to 84,000,000 was withdrawn at the extraordinary general meeting of the Green Island Coment Co., Ltd., held yesterday at the Exchange Building, the Chairman, Mr. J. Scott Harston, explaining that circumstances had arisen which had induced the directors to abandon for the prosent the scheme for the re-organisation of the Company's capital.

The meeting, however, proceeded to deal with the other purpose for which the meeting was convened, namely, to consider the adoption of the draft new Memorandum of As- sociation of the company,

In the speech which Dr. Woiz. mann (president of the Zionist Or- ganisation) delivered before the General Council he surveyed the events of the past twelve months in the Zionist world and then referred to the report of the Mandates Com. mission on Palestine and the British Government's reply. He emphasis- ed the passage in the report which stated that "the capacity of a Government to establish peace and concord among those whom it governs is proportionate to its can- fidence in itself and its policy,"

The Chairman said:-As indicated He attached importance to the an- nouncement of the Government that in the notice which has just been it would draw up a constructive read by the company's secretary, programune for the development of this meeting has been convened for Palestine after receiving the report the the purpose of considering, and, of Sir John Hope-Simpson, and be if thought fit passing resolutions for reducing the company's capital from expected that this programme would provide the Zionists with the | 80,000,000 to $4,000,000 and return. basic conditions for their work as ing to the holders all fully paid laid down in the mandate. In all questions relating to land, includ shares paid up capital, to the ex- ing the State lands, as well as in- tent, of 89.50 per share, and also migration and co-operation with the for the purpose of considering, and, Jewish Agency, Dr. Weizbann cx-if thought fit, approving the draft pected that the Mandatory Power would act in accordance with its new Memorandum of Association obligations. He accepted the point with regard to the objects of the of view of the British Government that the latter had only to create company. the conditions that would secure the establishment of the Jewish National Honic, whilst the work of establishment had to be done by meeting were sent out to share- Since the notices convening the the Jewish people itself, but he ex- holders, circumstances have arisen pected that the conditions would which have induced your board of actually be created by the Govern-directors to abandon, for the time

ment,

Al these resolutions were proposed by your board of directors.

Negotiations Fail.

A long and animated debate fol. being, the scheme for the reduction and reorganisation of the company's lowed, in the course of which opinions were divided as to the capital. The circumstances in ques- policy pursued by Dr. Weizmann intion are there: recent months. Whilst the gen- eral Zionists expressed approval of his attitude, the members of the Radical and Revisionist parties in sisted that be should have shown himself firmer in his dealings with the Government, and even resigned

When your directors decided upon the scheme, they entered into nego. tiations with Mesars. Vickers Arm- strong, Ltd. (who then were, and still are, the company's only can.

of

as a mark of pro. st against the siderable ereditors) with the ob- BLapension of labour immigration jeet of obtain.ng approval into Palestine. In his reply Dr. the scheme. At that time your Weizmann stated that a detailed board had no reason to doubt that memorandum had been submitted Messrs. Vickers-Armstrong, Ltd., to the Government containing prac. would approve of the scheme, in tical proposals ih regard to deve. regard to which their consent is lopment and improvement in the essential. The negotiations, how- various fields of agricultural coloni. ever,, have not been brought to sation, urban development; immi.. successful conclusion-Mesara. gration, public health, education, Vickers-Armstrong, Ltd., insisting and in the political situation gener your board do not feel justified in on certain reservations to which

ngreeing. For these reasons your board has decided that, for the time being, it will abandon the said scheme of reduction and reorgani sation of capital.

ally.

Jew and Arab,

Referring to criticisms by men bers of the opposition that the Jewish youth would not respond to the Zionist call unicas Jewish

As you have learned from the State" were advocated, Dr. Weiz notices that have appeared in the mann said that neither the Basle local papers, your board of direc programme (adopted at the esta tors has also revoked the call of ishment of the Zionist Organisa- 34 per share which was made in tion) nor the Halfuur Declaration August laat, on those shares upon said anything about a Jewish State. which only 81 has been paid up. The object of Zionism was " to Such resolution became necessary create a number of important because the only reason for making material foundations in Palestine the call was that it was one of the. on which an autonomous, self-con-essential steps in the scheme for tained, and productive common reduction of capital, and as that wealth could be built up." Perhaps schema has, for the time being, many leading British statesmen been abandoned, the call is during the war had thought of a

Jonger necessary or desirable, since Jowish State when the world was it was to be utilised in connection still in darkneas, but that idea was with the proposed return of capital rovised when the realities. of the

to shareholders. situation became evident. Pales tine could became a Jewish State if it were an empty country, but it Both Jews and was not empty.

no

The New Memorandum. The other purpose for which this

Arabs had equal rights, and were meeting has been convened is to

State-forming elements in the coun- try. They must therefore work to gether, and if the Jews would some day become the majority they would not dominate the Arabs, just as they did not wish to be dominated by the Arabs.

Dr. Weizmann's remarks on the question of & Jewish State as the ultimate objective of Ziotism arous

obtain the approval of the share- holders of the draft new Memoran- dum of Association. The existing Memorandumu is one which has been in force in its present form over since the incorporation of the com- pany in 1880, and your directors consider that in order that the company may be equipped with the increased powers necessary to en-

ing."

Mr. A. C. Botelho seconded the proposal, which was carried uquni- mously.

Directora present were Messrs. J. Scott Harston, R. G. Shewan, G. F. Mendham, Li Tee Fong, C. A. dn Roza, Others were Messrs. Allan Keith (secretary), M., H. Turner (solicitar), M. A. Figuerido, W. B. Haslett, A. C. Botelho, F. E. Silva (shareholders).

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ed insiderable with the members of the General Council. and maintain its position, it should Mr. Joseph Cowen (of London), a increase the scope of the objects of former member of the Zionist the company as set forth in its Executive and former president of Memorandum of Association, with the English Zionist Federation, sub. a view to being thereby placed in mitted & motion to the effect that a position to carry on its business the Council dissociated itself from more economically and eficiently, LET PRINCE EDWARD ROAD, POSITION WANTED. the president's views. Statements and also to carry on certain clansea KowLoom. 4-Roomed. FLAT were made by representatives of of business which under existing Garage-Apply C-CREDIT FON-A

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HY PAY MORE BUY explanation was given by Dr. Weiz. the company's present business. mann to the effect that he was con- The proposed alteration of tho

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[9934

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