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The Most Comprehensive Survey Yet Compiled of Reconstructional Progress in Modern China.
CHINA'S
NEW CURRENCY SYSTEM
By TANG LEANG-LI
A survey of Chinese Currency and Banking System in Historical perspective and of the reactions of the World Slump upon Chinese Trade, Industry, and Finance. from the beginning of the depression to the Establishment of State Control of Silver-with Statistical tables relating to movements of Gold, Silver and Prices in General.
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44
SPECIAL AMENITIES
BOGUS CLUBS GROW APACE IN LONDON
How Crime Is Made Easy By Householders
POLICE REPORT ON THE RECORD OF 1935
According to the report of the Commissioner of Police of the Metropolis for 1935, great difculty badly conducted or is still experienced in dealing with bogus clubs
circumventing the law, known as and the "more modern devide for
the bottle party."
NATIONAL COAL CONFERENCE
་་
RESOURSES AND DEVELOPMENTS
Nanking. June 4. After three days' deiberations, the National Coal Industry Con- ference
Mei-Yeh (Chuan-Kuo Hul-1), convened by the Ministry. of Industry. was formally closed.
The final session was held under the chairmanship of Dr. Chou I- chun, Administrative Vice-Minis- ter of Industry. 50 representa- lives of the Minisirles of Industry, Finance
and Railways, and coal mining companies were present.
With regard to the proposal of
marketing of coal, it was decided the Ministry of Industry for joint
DELEGATES THANKED
London, May 28, The Yangtze Finance Company, The suggestion of Mr. E L. Ltd.. held its sixth annual general Leeming, which was reported re- maeting of shareholders following.cently, that a worthy memorial to There were present: Messrs. F. R. King George would be a new £40,- Davey (chairman), H, E Arnhold. 000,000 trunk road from London to K. P. Chen, Chua, Bing-him, Hau Glasgow at least stirs the im- Singlöh Li Ming. P. W. Massey.agination. He would have this W. R. McBain, C. J. Meager (direc-magolficent highway carried over tors), and other shareholders, re-existing roads by bridges, and presenting in all 232866
served by roads entering it at Co The notice convening the meeting nections built to the "clover leaf" and the auditors report having design or some other which saves been read, the Chairman said:—
delay to swift through trafic. It You will see that the profit for would avoid all populous centres. the year amounts to $149.371.47. and ribbon building on its margins
to establish & Joint Office for the which, with the amount brought would be prohibited. Yet so close
Sir Philip Game, the Commis- Coal Industry (Mel-Kwang-Yeh forward of $193,487.19 leaves a
would is go to "the most densely
sioner, comments that the enfor- Glen-Ho Shih-Wu-So) at Shang- balance at the credit of proft and populated areas that it would serve
cement of the laws dealing with hai within three months," Pend- loss account of $342.853.66. Having in a direct sense 80 per cent of the regard to all circumstances," your people of Britain, and, since it
drink and gambling presents many ing its inauguration, the National dimculties. The procedure is cost- Mining Association (Chuan-Kuo directors do not feel justified in would skirt some of the most hardy in time and money and the duty Kwang-Lien-Huy wall serve for declaring any dividend. To do so
hit parts of the country. Its con would involve adding to the com- struction would shord welcome
is demoralizing the police officers communicating with the various pany's bank indebtedness, a course employment. It would, of course,
engaged on it.
coal mining companies on mea-
which, with the outlook as it is at
"It has been abundantly proved sures for the joint marketing of know no speed-limit, and in ap- by experience." present, and with rates of bank pearance would have something of that under the existing law it is
Sir Philio says. coal. interest at present prevalling, does the amenity of a park way.
Other proposals adopted, re-
not commend itself. I am sure, to
not practically possible for the garding coal transportation and police to do more shareholders any more than to
than put a taxation, are to be forwarded by check on the most
of Industry directors. At
to the the
flagrant in the Ministry same time, 'I
concerned It would have special fog light-fringements and I am completely Ministries
for COM- would call your attention to the fact that bank indebtedness has ing, double-track roads, and con-in agreement with Lord Merseysideration. been "considerably reduced. For nections with national parks to be
that legislation is essential. the year ending March 31, 1933, established in Dovedale and the "A proper system of registra- Following the session, the clos-
tion of clubs is the first essential, in ceremony was held. Mr. this amounted to. Tis 2761.780.40 | Lake District, among other places.
$3.882.626.06). On March 31, 1934. Had it,
but I doubt if this will produce ring-chang, Minister of Industry, in short, existed in Dr. it was just over two million dol- | Johnson's day that much-resented lars, and at March 31, 1935, ap-remark about the noblest prospect proximately one and a quarter a Scotsman sees being the high taillion dollars. At the close of road that leads to England would the anancial year we are now re- at least have had some
visible of viewing. It was only a little over justification. Whether such a $700,000.
road is practicable is another.mat- This makes the way clear forter. It would, like the present resumption of payment ot divi- London-to-Glasgow road, traverse denda when compartes like the large areas where land is expen- Shanghai Land Investment Co. sive. Mr. Leeming hopes that the and other concerns in which your owners, considering the road's memorial purpose, would accom- company has large holdings are able to resume dividend payments | modate it for little or nothing, "but themselves. I have dealt with that is exceedingly doubtful. Again, this point and referred to the pos- what would be the attitude of the sible wisdom of "companies con- Traffic Commissioners and the serving their resources in the re- marks I have made at the meeting of the International Investment Trust Co.. held earlier this after hour, and I will not go over the same ground again. Shareholders, even if their interests are confined to only one of these two associated investment trust companies will stantial margin, to pay the whole have the opportunity of reading of the "expenses of your company what I have said in this connec- | during the year. tion and my general remarks at the former meeting apply, if not wholly at all events in large part. to the affairs of your company.
!*》
BANK DEBTS REDUCED
ון
[Ministry of Transport, whose duty it is to equilibrate the claims of road and rall interests to a project that would so heavily put up the scales against the latter?
·LOSSES REGAINED
the desired result unless the police
"
ΤΡΙΣ
are, given some right or entry on legates for their cooperation and presided. After thanking the 'de- suspicion, however strictly it may reviewing the various resolutions be safeguarded. The present need inside observation in -nearly every case before any action can be taken is unfair to the individu- ai police officer, and the time o cupied and the cost entailed tend to defeat the proper, administra- tion of the law."
During last year.
were
in
for Irregularities against registered clubs cases, in 98 of which the were struck on the register.
adopted by the conference. ke continued:
Firstly, it is the hope of the Government that the companies concerned will organize voluntarily with a view to promoting the de- velopment of the coal industry... The Government will merely guide proceedings the organized activities of the coal
taken
companies. In order to Acquire 119 clubs form a definite organization and a legal status, the latter should
register with, the Government. LESS CRIME
Secondly, while it is true that 'Dealing with 'crime, Sir Philip free trade is beneficial to indus- reports that the statistics for 1835 try." unnecessary losses incurred reveal "a position wich may be by excessive competition should be regarded as fairly satisfactory in avoided. Though the coal several respects." The number of panies are urged to organize, they Andictable crimes showed anap- would be well advised to refrain preciable drop of 2,700 compared from organized efforts to put up with the previous year, the figures the price of coal, as this will not being 80,338 against 83,038.
only be harmful to domestic in- Numerically, he states, the great dustry but will also be prohibited bulk of crime consists of small by the Government. thefts. Qut of about 73,000 cases Thirdly, the enforcement of the of theft examined in 1835, in near- various resolutions adopted by the ly one-third the value of the pro- conference will have to depend on perty stolen was under £1 and in the collaboration of the coal com- well over two-thirds the value was panles themselves. less than 85,
Com-
Llez-
SUPER MISS ROUND BEATS ANITA
From the report whizo accom- pantes the statement of accounts, you will see it is stated that the
A reception in honour of the de- anticipation of your directors ex- I will, therefore, at this meeting pressed last year regarding the
"Broadly speaking" the report legates was subsequently given by confine myself tọ dealing with "the company's · subsidiary, the
continues, "these petty thefts oc- the National Mining Association Com- cccounts before you, Your will mercial Investment Co.. Ltd. has cur because they are easy. In (Chuan-Kuo Kwang-Yeh note that the expenses of" your ben realized. All its capital losses
other words, the opportunity fre- Ho-Hut)-Kuo Min. company have been reduced to a have been regained and a dividend
quently creates the criminal. relatively small figure. The total of 5 per cent.
once created, on the capital of and the criminal, for general charges and the"fees of $1.258.471.24" has been received, cannot easily be unmade. Messrs. Turner, Sturrock and while additional substantia; auma
"I suggest, therefore, that it is Brown, your secretaries, together have been put to reserve and car-
the clear duty of every citizen to with auditors' fees and directors' ried forward. In the remark ap-
take trouble not to give easy op- fees amount now to only just over pended to our balance sheet which portunities for crime by laxity in C$27,000, an inconsiderable sum in Is included to comply with the re-
the protection of his possessions, relation to the paid-up capital of quirements 01 the Companies and this applies to property of your company. which is
over Ordinances of 1932, it will be slight value even more than it $7,250,000, and which holds and noted that certain directors of this does to the more spectacular poa-.
London, May 23. nanages investments valued, even subsidiary company have received
session.... It is evidently not Smiling little Anita Lizana... at current depreciated quotations, remuneration to the extent of generally realized that the thief Chilian
tennis wonder, is still at nearly, $5,000,000. In this con- $6,351. from the subsidiary com-
task can be made much more diffi-smiling. But she is disappointed." Tection it will be seen from the pany. As 1 am not one of the cult and risky if the entrance In the Surbiton tennis finale ecounts that an appropriation of directors of the subsidiary com- doors of all houses and flats were yesterday she achieved a long- $327.874.47 has been made from pany, I have no diffidence in stat-tted with good mortice locks." Bought ambition when she met reserve for the purpose of writing |ing that those fees have been well Juvenile crime is becoming ra- Miss Dorothy Round, 1934 Wim- down, investments, the value of earned. The control of our zub- ther more serious. Out of 18,108 bledon champion. which is considered doubtful, to sidiary company involves a great persons taken or given into, cus-
"And Miss Round won 6-2, 6-3. nominal figures. This leaves A deal of time and attention, fre- | tody for indictable crimes last But it was a super Miss Round. balance in reserve of $573,125.53. quent meeting and consultations year. 4.838. or 28,7 per cent. were Never has Britain's joint. No. 1 As I have stated, bank indebted and the results achieved show how under 17 years of age, and a fur-woman player, played better than ness has been reduced to a rela- valuable their work has been. ther 2,519 (13.9 per cent.) were this por with more confidence. |tively small amount, and it is pro- No questions being asked, the
from 17 to 20 years of age.' An able that, before the end of the following resolutions were put, to
analysis reveals the extent to which skimmed the net and went Smashing drives on either hand, current financial year, the amount the meeting and carried unani- which the young offenders work will be still further substantially mously:---
reduced. It will be noted that the
"That the directors' report and larger part of the indebtedness, viz., £30,000, is in sterling. The audited statement of accounts for conversion from dollars to sterling the year ended March 31, 1938, as
in "gangs." The age of 13 was the deep into the corners, gave the Senorita no chance. She tried her, "peak" age for juvenile crime.
.
i was done to save the dierence in presented, be adopted."-Proposed Juveniles is likely to do any harmon and a happy augury for Wim-
interest between 8 per cent. and 5 by the Chairman and seconded by per cent, and your directors felt Mr. Chun Bing-him. justified in making this conversion In view of the fact that they hold sterling investments exceeding this figure in value,
I may mention that reduction in bank indebtedness has been |éffected without in any single case disposing of any investments at a
"That the amount standing to the credit of profit and loss ac- count be dealt with as recom- mended by the director in their report"-Proposed by Mr. Li Ming and seconded by Mr. W. B. Mc-
Bein
That Messrs. F. R. Davey, W.
Sir Philip does not believe that favourite drop shot, but was bea-
ten at her own game, the taking of finger-prints of
Misa Round's form was a revela-
bledon and the Wightman Cup.. Doubts about her Otness wers completely dispelled.
It was no disgrace to be beaten, Senorita.
FEWER ROAD DEATHS
The number of road." deaths in the Metropolitan Police district was the lowest recorded since 1927, while, 44 compared with 1934,
The men's Anallata are H. G. N. there was reduction of 331 or Lee and C. E, Malfroy. 23.1 per cent,
The statistics for the quarter of the year, when
second the
general speed limit was in force stons, cases in which drivers were was generally respected," summoned for overtaking police "and
loss The company has always. McBain, and Hsu Singloh be been able to make substanital-elected directors of the comp showed that the number of fat cars proceeding at the exact legal pronts by dealing in securities and Dany Proposed by Mr. H. Eallties caused by private cars was limit were dismissed under the you will see that, even during Arnhold and seconded by Mr. C. 3. brought down by 50 per cent, as Probation Act, with remarks that what must have been one of the Meager.
compared with the previous quar- clearly indicated that the Bench most difficult years in Shanghai's "That Mesara. Lowe, Bingham & ter
felt that a margin over the legal history-our financial year which Matthews be re-elected auditors "Unfortunately," Sir Philip con- limit might well have been allow- ended on March 31 last we were to the company for the ensuing tinues, "the police exorts to en-ed able to make a profit of $39.813-year, at a remuneration of $1,400." force the general speed limit have my Tiew" he adds, "It would, 73 on sales of investments actually Proposed by Mr. W. A. Hale and not been supported by some of the be quite wrong to encourage any purchased during that period seconded by Mr. F: G. Harrison-Courts as well as might have been general. Impression that slight This more than sumced, by a sub-(N.C.D.N.)
expected. On a number of occa-1 excesses can be overlooked,”.
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