1917-08-09 — Page 9

COMMERCIAL-NEWS.

Chinese Cotton. Messrs. E. Spact & Co,'a | Cotton market

герам, dated August 2 statee":-Daring the past week there has been no de- cided change in the fundamentall conditions of the markets and fluctuations were das principally to local conditione. Prices are! slightly easier, due principelly to poor demand se apingers general

Cotton.

THE HONGKONG - TELEGRAPH, THURSDAY, AUGUST 9, 1917.

HOUSE OF LORDS REFORM.

OUR CIVIL LIBERTY.

"The Black Pall of the

Parliament Act."

Mr. Runciman on Freedom

of Press and Speech.

"

WAR-CANCELLED CONTRACT.

Importaat Judgment of the Law

Lords...

Mr. Walter Ranciman, M.P.. late President of the Board of In the House of Lords recently, Trade, presided at Bradford re- A bench of seven Law Lords on" Lord Burnham (U) asked the Gor-cently at the annual meeting of June 21 delivered judgment in ernment when a statement would the Yorkshire District Branch of the House of Lerds in the osse of ly are adopting a waiting policy be made in that Eouse sa to the the National Union of Liberal Tennante (Lancashire). Old Hill pending decided news re the setting up of and terms of rs.

Clute.

Street, Liverpool, v. C. S. Wilson development of the new crop ference to the Conference which In moving the adoption of the and Co., Limited, raising an im situstion, Tone of the market is to be appointed to consider and report Mr. Ranciman referred toportant commercial point. Steady.

report upon the reconstitution Mr. Asquith, whom he described Meears, Wilson entered into a and reconstruction of that House. the greatest living Yorkshire contract with the appellanta The Manchester · correspoprient He said somestatement of this kind men Mr.Asquith had a reputation for a supply of magnesium of the Economist wrote on Jave was much overdue. It was a matter which went beyond these shores, chloride, a substance which they S-Rather remarkable develop-of aupreme moment from be sad what the Allies owed to him used in the manufacture of a ments have occurred in connection national and Imperial point of could never be fally told, and product of theirs called Litosilo, with the raw cotton situation view. If any Conference were be could assure them that Mr. an article used mainly as A during the the past week. Late set up he hoped it would be Asquith would be the last person ubatilate for wooden dicks on last Friday the United States animated by the same spirit that to tell it. The work which, he board ships. On the outbreak of Government publiebed it first pervaded the Speaker's Confer (Mr. Rauciosa) and biscolleagues war the appellants purported to ondition report relating to the ence. The House of Lords was did-good, bad or indifferent cancel the contract as the sup new crop. The figure w** given existing under the black pall of might well be left for criticism olies from Germany cessed, bat AB 69.5 per cent., against 77,5 per the Parliament Act. They were gatil after the war waa over; intimated their willingness to cant. last year, and a ten-year stamped with a badge of is but if they were attacked they supply the remainder of the average of 79.1 per cent. The feriority to every other Second were quite ready to defend them-magnesium chloride at an in- statement was worse than expect. Chamber in the world. There selves.

creased price of 10. per too, their ed and prices of the article bare aea mark of futility about all The war had brought with it, contention being that the war advanced rather rapidly, the quo- their proceedings. He thought Mr. Raacman went on, not only caused a shortage in the eapply tation in Liverpool laat Thure-the House of Lords had an in pain and suffering, but the which justified them in suspend- day for middling qualities on the portent parito play in the reabrogation of liberties which we ing deliveries under the contract. spot being 15 57d against 14.533 construction problems that would enjoyed in times of peace. There

Against this Mesere. Wilson on May 31. Lancashire spinners come before Parliament in the was no such thing either as the protested on the ground that there are faced with a very serious text ten years.

freedom of the Press the pre- was no shortage so far as the ap- problem.

There is still nearly Earl Curzon (Lord President Bent time, though that freedom pellants were concerned, eince Two months of the current season of the Council), speaking for the was the very basis of our political they had more than suficient to to rap, and the stock in Liverpool Government, said he was the last liberty. We had besp content fall the contract, but chose in- is very low aud being steadily person to unde.-rate the extreme to GE our Gewspapera cutatead to sell it at an enhanced reduced. Users are meeting with importance of the matter. The down not only in military price to other persons with whom considerable difficulty in securing pledge of Mr. Asquith given at and naval affairs, but, in civil they had no contracte. Their supplice, and owing to the the time of the passing of the affis, to a meagre a recital of protesta being of no avail, they Fmall amount of the srticle Parliament Act, that it ought what was happening in various brought en action claiming dami offering prices are easily pushed either to be accompanied or parts of our own country as the ages for breach of contract, bat the followed at so early date by a Executive thought fit, Freedom Mr. Justice Low decided in favour op when spinners enter market. The new crop in the meaenre of reconstitution of of speech was by no means the of the appellants, bolding that United States bas undoubtedly the House of Lorde, still thing it was before the war. We they were entitled to suspend made a poor start, sad caless stood paredeemed. It was dea tolerated also the restriction of deliveries by reason of the short- distinct improvement in the con-cribed by the Minister who gave the freedom of the person in order age produced by the war con- ditions shows itself daring the fit in that Bouge aa a debt of that mischief might be avoided, sequent on the cassstion of the

ext few months the available honour, and it wae undoubtedly "bat," be added, "let it be clearly German supplies.

supply during the coming year an obligation the weight of which understood that we sa Liberala This decision, however, was up- will be much less than the waa felt by any Government that are not prepared to see our rights set in the Court of Appeal, where estimated requirements of users, 3 in power. The case for the of civil liberty entirely destroyed it was beld that the appellants throughout the world. In

the fulfilment of that pledge had even in times of war, and immedi-were liable for breach of contract circumstancer, there no become much stronger by the ately the war is over we shall in each smonat of damages as anticipation of any immediate events of the past few weeks, insist on the fullest degree of might be found des on inquiry fall in values, and bullish senti Parliament was now being invited civil liberty being restored to by an official referese Erg ment is prevalent in sil quarter. to give its Begent to a great exactly where it was." (Ohsers.)ments were heard at the com-

Irrigation la. India.

10

mencement of March by the Lord Chanceller and Lords Lorebarn, Haldane, Danedin, Altinson, Shaw and Wrenbury, whes judg men't we reserved.

The judgment of the Court of Appeal was reversed on Jane 21, and that of Mr. Justice Low to. stored, the Lord Chancellor die- seating.

Shipping Sales.

HONGKONG SHARE REPORT

S-SELLERS; SA-SALES: B.-BUYERS; N-NOMINAL..

OFFICIAL PRICES. BANKS

HK. & S. Banks sa.

MARINE INSURANCES. Cantons North Chinas " Dim

inions Yangtszes

SHIPPING.

BANKS.

BANK OF CANTON,

LIMITED.

HEAD OFFICE, HONGKONG

FOREIGN EXCHANGE and General

Banking business Transacted.

INTEREST ON FIXED DEPOSITS:

$650

$925 t. 140 $895 b. ex 73 $195 FIRE INSURANCES. China Fires. 1. H.K. Fires

n.

8.

$14) .$305

For 3 Months 3% per annum.

For 6 Months 4% per annum.

a.

n.

$85 $18 $101

$10

b.

120/-

For 12 Months 41% per annUD LOOK POON.SHAN;

Chief Manager.

$23

REFINERIES.

$96 20

MINING

"}

b.

34;6

Douglases Steamboats Indos (Del.) Indos (Pref.) Shells Ferrics

Sugars Malabons

Kailans Langkats Raubs Tronohs Urais

b. & sa.. t. 15

b

$2,60

1.

25/€

n.

321-

DOCKS, WHARVES, GODOWNS, &C.

H. K. Wharves b. & sa. Kowloon Docks S'hai Docks

1. h.

$76 $117 .t. 78

LANDS, HOTELS AND BUILDINGS. Centrals

$.

$35 $99 $91

b. & sa. $6,25 '.

H. K. Hotels. b. Land Invest. H'phreys Est. K'loon Lands S'hai Lands West Points.

COTTON MILLS.

11.

Ewos Kung, Yiks b. S'hai Collons Yangtszepoog.

Borneos

BANQUE INDUSTRIELLE

DE (HINE.

Capital ( Paid up)...Francs 45.000.000

President

André Berthelot General Manager A. J. Pernotte.

HEAD OFFICE:

74 Rue Saint Lazare. PARIS BRANCHES in PEKING. SHANGHAI. TIENTSIN and HONGKONG.

BANKERS.

ic FRANCE: Société Générale, pour favoriser le Développement du Com.. meres et de l'industrie en France.

In LONDON: London County & West-

minster Bazk, Ltd.

In ITALY: Banca Commerciale Italiana.

Telegraphic Address: CHIBANKIND.

Interest llewed on Current Acerenta and Fixed Deposits. Termen application, Every description of "Banking and exchange business transacted.

M. ROUET DE JOURNEL,

Manager.

HONGKONG BRANCH:

5. Queen's Building.

Tel. No. 2352 Hongkong, 14th May, 1917.

NOTICES.

BANKS

HONGKONG & SHANGHAI

BANKING CORPORA

- TION. Paid-up Capital........$15.00W.OM RESERVE FUNDS:

Sterling

£1,500,000 at U-

-$15,000,000

Silver $18,500,000

$33.500.000

Reserve Liability of

Froprietors ........... $15,000,000 COURT OF DIRECTORS Hep. 5. H. Codwell. Thiemixe. les, Mr. P. E. Bar-Dent Chairm Mon ... Aston, F. C. Satcher, s

... Edkins K

Gabbas. B. V. D. Parr, Esq. Pantender. 1- AH. Compton, E.

CHIEY MAYAGEN Hongkong. 7. Stabb, Ing.

Shanghal-0. Stephen, Eng London Leakers-London County De

Wermioner, Limited.

էլ

Hongkong-Intrest Allowed

On Current Account at the rate of Spa GER ON FIXED DEPOSITE months

annum on the caily balates,

Fer

Fer moeths,

per crat per addom

per ceat. per untas

For in months, 1 per cent, par katta.

N. J. STABB.

Chief Manag an

HONGKONG SAVINGS BANK,

TRE Boice of the above Bank is conducted by the HONGKONG AND SHANGHAI BARKINS TORPORATION, Kairs may be chained to application INTEREST os deposits is allowed us tha"> Imur monthly balances ar tik per cens, per abou Depositors may transfer, at thelt option, bazan of $100 or more to the Houckaer and Shangher Pack 10 be placed on FIXED DEPOSIT cant per andwin.

Far ibe Hongteng and Strophai Banking Corne tlen

N. J. STABB.

Chief Managei,

THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA

Incorporated by Royal Charter Tige

MBAD OPPIUR-LOSDEN, PAID-UP CAPITAL £1,300 REFERVE FIND...

ch 1,900,000

RESERVA LIABILITY

PROPRIETORS

DF

£1,000,00

FOREIGN EXCHANGE and Gard BasMai

bosimeta transacked. CURRENT ACCOUNTS optbed and FIXES DEPOSITS received for 1 year or shorter periods o vies bich will be cooled on application;

T. C. DOWNING,

Manage Hongkong, 11th April, 1912,

THE MERCANTILE BANK OF INDIA, LIMITED.

Head Office 15, Gracechurel Street, London. Authoriser Capital .£1,500,000 Subscribe d

0.

sa

b.

$33 t. 80 $69

£. 1621

t. 15

b.

t. 124

DL

t. 5,75

MISCELLANEOUS

1.

$7

China Light & P.n. Providents

$4.50

Dairy Farms

Green Islands

F.

1.

Sa,

$7,90

$23

$7,85

H. K. Electrica. b.

$48

H. K. Ice Co. Ropes

Л.

$151

3.

$27

Steel Foundries

b.

$10

Trams, Low Level D..

$6,40

$3.10

cts. 90

է.

$3.40

Combay

Calcutta

11.

$13

Watsons

D.

$6

WAL. Powells

6.

Morning Posts

1.

$6.50 129

1.30 LM 20 4.00 4.

10.00 AM 18.00 4. 5

18.4.: 14 1.1.1. L 1.43 Z. L £15.16

EVERY 15 MIN.

Colombe

10 MIN.

Delhi

15 MIN.

Galle

18.45P.M. 1.15.

1 MIN

Norgkeng

20 MT.

How ab

15 M

Kandy

$18 P.M.

10 MIN.

5.00

00.

IS MIN.

S.XXX.

10 MI

NIGHT CARE.

Trams Peak, old n. Trams, Peak, newn. Laundries U.Waterboats

CORRECTED TO KOOK THURSDAY AUGUST 9, 1917.

BENJAMIN & POTTS,

Share and General Brokers,

Princes Building.

Tel. address: Broker.

EXCHANGE.

A

T/T Demand 30 dis.

measure which would reconstitata When the British Government the electorate of the country on a became responsible for the ad- far wider basin. It must bel ministration of Indis it found obvious that when both Houses ital question of their powere. fawr large irrigation works in were asked to seast to the proper Conference would start se a basis He was next asked whether the indifferent operation, and a large co-ordination of the Lower Cham- zamber of wells and tanks, bar with the Upper the question of for reconstruction with the report the former chiefly in southers the composition and constitutional of Lord Rosebery's Committee. Indin. Sir Arthur Cotton dam powers of the Upper Chamber That idea had not entered the med the rivers of the Madras emerged as a factor of importance heads of the Government, but no doubt that would come under the Presidency and brought im It was in that spirit that Mr. Long mense fertility to their deltar. made his pronouncement in the notice of the Conference as well; In Northern India Sir Probyn Boase of Commons. He owed the as Lord Lansdowne's resola- Cauley constructed the Ganges Boase some apology for not hariors. He imagined that the Conel, which taking off from ing anticipated that statement; he reference to the Conference would

The steel screw steamer St.. the river at Hardwar remains waited until it was certain that the

h of a general description. Tudwa', owned by Messrs. one of the baldes: irrigation works progress of the Representation of thing would be more anwise Duncan and Leith, Aberdeen,

than in the world. Then came the the People Bill made it clear that

to tie down the Coo has been sold about £9,000. wonderful Chenab Canal, and the the Government would be able to ference to the consideration of The steel screw for steamer Periyar work, in southern Indis, proceed with the proposal now in y partiealar topics, or to limit Paragon, owned by Messis, J.

It was obvious that the scope cf its duties and powers. been sold to English buyers.

Weatherill and Sons. Dublin, bast where a river ie turned back question.

It was obrions the task of the steel screw steamer of 7,050 tons Goveriment from its watershed" to wster the the

would mot

Conference would be one of the d.w.capacity, now building at arid tracts on the reverse slopes.hive been wise in inviting A certain number of protective the House to agree to the set restest complexity and difficulty. Sunderland, and nearly ready in ting up of such a Conference as They had in the preceedings of for delivery, has been sold for the constructed were the Bombay Presidenzy, but was cow proposed if they were not the Speaker's Conference a good sum of £160,000. She will be

they resulted

with triple expansion in certain that the Representation omen for the success of the new fitted considerable LOGE irrigation of the People Bill would pass the Conference, and when it started engines. The steel and iron Kingsbridge earned a bad name.in western House of Commons in such a form ca "its work he hoped it would screw India, Thus

was as would render it fair and reason- receive the sympathy and sop-Packet, 128 tons gross register, progress considerable, but it was spas able for the Government to ask port of which it stood in need owned by Mr. W. H. Prowse, Kingsbridge, has been sold for modic. In order to eabetitute the House to pass it into law. That from both sides of the House.

the sum of £3,600. The Marquis of Crews (L) said en ordered policy for these prospect seemed assured, and erratic, measures Lord Curzon accordingly the Government the proposals now before the Appointed in 1901 a Commis- would be able to proceed without House of Commons constituted & gioa to make 8 detailed further delay to set up the Con tremendous revolution, bat the Survey of the whole position ference to which the question agary of their general acceptance was good. Ee cordially hoped and

to present

The เ report, related. This Commission found that out public men was so great that it that equal success would attend an ares of 226 million scres would not be an easy matter, the Conference for the recon-

stitution of that House, ordinarily ander crop, 44 mil. The Government would lion acres, of 19 per cent. were ceed with as mach promptitade agreed that it would be futile to ordinarily irrigated. Of this sres as they could, and when their sitempt to alter its copetitation 42 per cent. was watered by State proposals were farther advanced without taking into consideration works and the balance from private; the House would be entitled to relation to the other House works, of which rather more than to a full statement. As to the sad to the country. one balf was from wells. At this composition of the suggested

The Earl of Selborne (U.) hoped

worke

8.8.

strain.

upon

pro-i

to

He

time the capital outlay on the Satu¦ Onference, they hoped the Boose would insist on having worke was Rs. 39,83 lakhs involv- proceed, broadly speaking very sa opportunity of discussing the ing an annual expenditure of Rs. much on the lines of the saccess, terms of reference before they

It were faslly given. 159 1-khs in interest, producing a fal Speaker's Conference,

The Marquis of Lansdowne (C) grose revenue of Rs. 366 lakba and would be nolair for him to 8 net revenue of Rs. 207 lakhs. The attempt to state what would be thought that even if there had Commistion recommended a pro- the exact composition of the been no Speaker's Conference the gamme of new major work cost-Conference, bat it was obvious question of the powers of the ing Rs. 44 crores, which would that in a mastter secting that Boace of Lords would bare called result in increasing the irrigated House they were entitled to a argently for reconsideration. They area by 8,500,000 acres and that larger representation than on the could not be expected to sit down the execution of this programme Speaker's Conference. As to the Bad tolerate for an indefnite time would cost the State Rs. 74 lakh fanctions of the Conference, it an arrangement which placed a year through the excess of in- would undoubtedly be asked them in a position inferior to that terent charges over revenus, Aalto consider the question of thy of any other Second Chamber in gainst this it calculated that the fatore powers of that House apart say civilised community, and an sunual cost of famine would be from its reconstitution. It would arrangement which, according to reduced by Rs. 81 lakhs, leaving barless merely to substitute the showing of those responsable a balance of Rs. 43 lakhs, which is set of persone for another an- for it, we intended to be only a might be reckoned as the annusi lesa the Conference also consider. temporary and stop-gap strange- cost of protection against famine, ed the much more important and ment.

steamer

YA

(YAL

YALE)

(YALE) Locks and Hardware

MUSTARD & CO.

BOLE AGENTS.

SELLING.

4 m/e...... T/T Shanghai, T/T Singapore T/T Japan T/T India

2/816 2/8 3/15 2/8 5/16 2/8 7/16

2812

-Nom.

--... 114

12434

Nord.

Nom.

6334

co & New York)

Nom.

3.7012

Demand, India

T/T San Francis-1

T/T JAVA.......... 15234

T/T Marks......

T/T Francs

Demand, Faria ...... 3.71

BUYING.

4 m/s. L/C............. 2/9

4 m/s. D/P....

.... 2/914

2,914 30 d/s. Sydney & 201

6 m/s. L/C....

Melboume.......

30 dja. San Franc-Į isco & New York)

4 m/s. Marke

€5

Nom. 4 m/s. Francs ..... 3 8312 6 m/s. France ...***

3.8814 Demand, Germany.. Demand, New York. 63% T/T Bombay

Demand, Bombay... Non. TT Calcuts .........

Demand, Calcutta... Nom. Demand, Manila 12736 Demand, Singapore. 114 Or Haiphong......... 44% prem. On Saigos.

42% prem. On Bangkok......... 5714. Sovereign

7,40 Gold Leaf, paz oz.... 43.20. Bar Silver, per oz.... 4171⁄2

Nom.

SUBSIDIARY COINS.

DISCOUNT PER $100: Chinese,.,20 cts, pieces 2. ↑ %dır. Chinese...10

2. %dia.

Pongkong2cts. piecas par. Hongkong 10

體

NOTICE

PEAK TRAMWAY CO.

5.00 PM. S

LIMITED.

TIME TABLE.

£3,00 4.M

3.30. and i * 2.30 E 11.00 .. very half hour

14.00 PM to ILI PE

E quarter of an AEUR.

SUNDAYS:

10.30 A.X. 14,00 AM. 1900 Noop

EXERT EN...

6.30 P

60QFX..

13.30AM, O

18.49 Moon 1 1.0.

6.90 M. 0.00

MIGHT CAR we at Wank Daya

SATURDAY:

BEZA Cas at bidangbi.

#PECIAL CARS

By Arrangement at the Company's Ombor. Alexandra Burdings,

Des Torgs kond. *BÓRAOD sad pooch deseta available for all {dara Dot already fall, running at the time dated in the Coenpuaj's time selles, hat not for special DATA, CAN be obtained on application at the | Dempseyir Office --Në Season ticket will, be Amand wiítil payment the-for bar been mada I Bank Notes or by Cime or Compradore order representing Rank Nov. “

JOHN D. HUMPHREYS #CON.

THE CHINA PROVIDENT LOẢN AND MORTGAGE

"

CO. LTD.

(Capital Paid up...$1,250,000.)

Loans on Mortgage of Boten Property, A Good nivad on Storage,

Advances made on Merchandise. Loans made an the Providon: Bystem,

TRUSZKI EXECUTOR OF WILLS, ATTORNEY, de Undertakes and Ezeeriaä Kasse and Particulars on application;

To the Dates of “ SHEWAN, TOMES & CO.,

General Managers.

MARTIN'S

APIOL&STEEL

TELEEPILLS

A French Bamondy đẹp mi! frengulevičius.

Laly Go may be sânzigistered. Five The TEO 1%eiz #Secmmand them, basce Ústance. Morals. All Chemiste and cons sell them Loronghari Sos World De

free Gi

MARTIN, Chemist, Bodib 06

MARTIN'S

SAPIOL &STEEL MatePILLS

Paid Up Reserve Fund

++

BANKER& The Yark of England,

1.125,000

562.50€

600 00

The Looden cint Stock Bank Limi BRANCHES

Peet Lock (Baurichad}

Kamphi

Kota Khris Kuala Lamp Xadras

Penn

Rangoos

Slogspars

YONGKONG BRANCH,

Evet description of Ranking and Exca business transced,

Interest allowed on Current Accounts at per s per annum on Daily Balances, and end Depo at rates which may Le sacersaisod po application

С. СНАМРКIN,

Acting Manazar,

INTERNATIONAL BANKINO,

CORPORATION.

HEAD OFFICE:

55. Wall St., New Yarim.

LONDON OFFICE - 36, Bishopsgat, £.C.

CAPITAL & SURPLUS” DS, $5,500,00 UNDIVIDED PROFITS; US. $1,010,000

BONKAY CALCUTTA

CANTON CZBU. COLON HANKOW HONGKONG

KOZŁ

LONDON MANILA MEDELLIN PANAMA

PEKING,

PUERTO

PLATA

U.8. $7,510,000: FAN PEDRO

DE MAORIS. BANTO DOMING SAN FRANCISCO SHANGHAS BINGAPORE

TIENTSIN YOKOHAMA

BRAN HES:--

Through its close affiliation with The Nationa City Bank of Sew York, the Bank is able to oder M Services of the Branches of that lattice in Cate South America, and elsewhere,

PAHIA, BUENOS AIRES, GEND MONTEVIDEO, RIO DE

BATASA SANTIAGO

JANEIRO DE CURA FANTOS,, S&C PALLO, PETROGRAD VALPARAISO,

All kits et FOREIGN & LOCAL BANKING BUSINESS transacted,

CURRENT ACCOUNTS opened and FIXET DEPOSITS received as to be ascertained applicatics.

GEORGE HOGG

MSCREET.

Hongkong. 26th September, 19161

THE

YOKOHAMA SPECIE BANK

LIMITED.

Established 1880. Authorised Capital Yon 48.000,000 Paid-up Capital'...", Reserve Fund......

36,000,COU 21.300,000

Hand Office-YOKOHAMA

Branches

Antung-Halen

Bomber Calcutta Changchun Daire Fengten

Hankom includ Kobe Lian-Tang'

London

Lyons

Lng Angelos Tangta

NOT

Agencia Newchww Onza Paking Bycjan (Fon

New Yor

San Francis

Bhanghai

Eydney

HERLIK

Manling

THEDED

Tokyo

.Tainanfa

iclerent allowed on Current Accounts. Depos received for fond periods at rslae sa b' - Domine

an appication.

EISHI ONO, Manager,

Hongkong, 18th July, 1917.