1917-10-31 — Page 9

COMMERCIAL NEWS,

THE HONGKONG TELEGRAPH, WEDNESDAY, OCTOBER 31, 1917.

Government has suggested the increased importation of American colton as a meina of balancing trade" socounts with the United "Japan's National Debt. States as well as for the purpose At the close of last month of reducing the import of Indian Japan's national debt stood at cotton. The question is a very T. 2,485,913,311 32 against X. important one for Japan's spinn- 2,490,796,711 32 st the closs of ing industry, and the Spinning A- Augart, Besides, the war losasociation will not content it

Yeolf with such a just flated amounted to

Inkewarm 99,976,500. Of the total action as memorialising, but will ^» 1,358,470,083.82 was foreign obli- take more effective steps. The gations while Y. 1,137,328,627.60 cotton spinners at present have was domestic losos. During euficient stocks to continue September sterling loans were operations until the end of July refunded by the Government of next year. If no exports are to in London by purobase. The ba shipped to Japan, the eapply total refunded

to of raw cotton in India would be Y.4,881,500.

in excess by about 2,000,000 bales. For this extra quantity to

amounted

American "Railway Materials for be consumed by Indian spinoera

Russia.

is out of the question. This would hardly sait the British protec- According to information re- tionist policy, sad probably ceived in Osaks on the 19th the British authorities will inlant contracts bare been sign-remove such obstacles as the ed between American and Russian restrictions on the issue of representatives for the supply of India Council Bill in the way of 10,000 locomotivea and 150,000 importation of Indian colton trucks from the United States to into Japan. There is therefore Raveis, The United States no cause for pessimiem on the. authorities, it in sid. have part of Japanese spioners." The slo agreed to make farther phrase about the British protec- large

of supplien

Taile, ficuier policy is rather cryptic. and

rail The Indian cotton grower would, way materials. It is added that of course, like to have Japanese though representatives of the buyers competing for his wares. Imperial Japanese Railway Bur- but in any case be has no fear of can have come to the United not being able to dispose of the States and have been negotiating 2,000,000 bales whiob Japan now with the American authorities, for taker. obtaining enpplies of railway materials, it is feared that these War Risk and the C.I.F. Clause. negotiations will be ansacosesful.

Springs,

other

provicus

It is believed that for the convey- The United States Conmal ance of the American railway General at Buenos Aires makes materiale to be supplied to Rassis, the following report to his Certain NY.K. vesels will be Government :—The Argentine aeed.

Chamber of Commerce has recently issued an interesting abraitted to it, American Import Restrictions.

[report on a case,

for decision, dealing with the With regard to the persistent interpretation of the c.i.f. clause, reports that the United States in 8 commercial contract. Government will restrict or pro- According to La Prenes the hibit importe, a Japanese official question turned on the inclusion dispatch from New York to the of wär risk and special pre- Foreign Office para:-"The Bill mium where for the Prohibition of Enemy stipulation had been made to the Trading, which was recently contrary. In the case submitted passed by the House of Represent for decision the Chamber of Com. atives, was passed with an amend meres fad that the c.i.f. claces ment by the Senate on September covers war risk, and that any ex- 12th, and referred to the Joint traordinary premium called for Committee of Congress. On the eve by the insurers la chargeable to of the conclusion of the present the seller who disposed of hie session of Congress the Committee goods on these terms. "As is passed the amendment made by well known," the decision con- the Senate which provides tinues, “the clause' c.i.f. Buenos for the restriction of importe. Aires "means that the goods thos It is reported that in sccordancs sold are to be delivered to the with this provision, an annouder- port of Buenos Aire, freight and ment will shortly be ̋made of a insurance being at the charge of change in the fanctions of the the seller. In the ander discus. Export Control Board and of ssion the contract was made in restriction of imports. The Silk Buenos Ayres, beuce both parties Association of New York does notare perforce subject to Argentiae; apparently pay much attention to law in so far as the settlement of the matter, but the Merchante' differences arising therefrom is Asecciation expects that the concerned; and it is a funda- report will prove true. The object mental principle in Argention of the import restrictions is, of commercial law at all maritime course, to economise tonnage and ¦ riete, wherein war ziek is'expreeB- to remedy the adverse balance of lyncluded, are for account of the trade so as to prevent the outflow inker (art. 1,207), always pro- of gold and silver. It is generallyvided that express esipalation to expected that the import restricthe coatsry has not been made tions will not be so strictly in the policy." After pointing out enforced asthe export embargose, that the same principle rules in It is feared that if imports are Freach and German commercial restricted, Japanese silk goods coies, and after alluding to the fact will be first vistimised, but at that in practice unch special rieks present it is not thought that the are excluded in insurance policies embargo will involve raw silk, for esve when higher premiums are this would jeopardiee the interesets paid, the chamber cises a decision of the American weaving industry, given in-s court of the State of New York, wherein it is laid down that in the case of an insurance co time payments the obligations As already mentioned, the contracted on both sides authorities of the Bank of Japan not modified through a cab- have suggested to the cotton spin-sequent declaration of WAT nera that they should substitute which may increase the risks American couon for Indian in on the policy. In the case under view of the difficulty of importing [discgarion the Chamber of Com- Indian cotton owing to the | merce in of opinion

"bat when American embargo on the export the contract was drawn up it w of gold, which creates ■ naw reasonable to suppose that dificalty in squaring the balance transport would be liable to war "of Japanese-American trade. To risk; and if the vendor wiebed to these official angpections the Spin- limit hie liability to the proport ning Associsciation is now draft-ion apparent in normel times, ing a reply. It seems that the despite the abnormal state of cotton spinners consider the idea of maritime communicatione, he eubelitating American cotton for should bare added the Indian impracticable. Os the necessary exception. His omis subject the Spinning Association aion to do so cannot be regerded is credited with the following sa giving him a better vase opinion:-"It seems to be not than he actually haw. War risk impossible to get sufficient gold cannot be regarded se exceptional from the United States to or a case of force majeure," square our balance of trade with especially under existing circam- that country in spite of the stances, therefore the vendor "Ameriosa ambargo on the export] would not be fulfilling his con of gold. 11 Japan persists, however, tractual obligations if, before

Indian and American Cotton.

Η

17

REUTER'S TELEGRAMS.

EARLIER TELEGRAMS.

THE ITALIAN REVERSE.

Germans Carrying Peace Banners.

New York, October 29. A correspondent of the Associated Press on the Italian front telegraphs on the 27th: The German masses are advancing carrying huge hanners bearing the word "Peace." This was evidently an appeal to the Italian soldiery, though it was accompanied by the roar of artillery and bayonets beneath the banners..

JI

Assistance from the Allies.

Loudon, October 29, Reuter announces that steps have been already taken for rendering the Italiade the fullest possible assistance.

Washington, Oct. 30.

The United States has decided to assist Italy. The chief effect of the news in America has been to accelerate military preparations.

Collapse of Isonzo Front.

London, October 30, ·

A wireless German officis message says: The whole Italian Isonzo front has collapsed. The Third Army is hastily retreating along the Adriatie cast. The Austro- Hungarians are now before Udine. We have also captured Cormous. Our prisoners are continually increasing,

Other Aspects.

London, October 30, The Italian newspapers textily to the nation's stiffening moral. Party differences are being furgutten. There are striking demostrations of patriotism on all sides, from the Catholics to the Socialists. The departure of hundreds of " officers for the front occasionef unforgettable scenes. Wounded men in the hospitals are asking to return to duty.

The United States Secretary for War in his weekly review recalls that in May, 1916, the Austrians similiarly assaulted in fine weather with superior fighting vigour than they have at present. In the initial days they scored successes and won a footing on the Italian plain only to be stopped and driven back.

The French military critic of the "Debats," recalling Ferdun, points out that the German Jahit is to strike at a difficult point, which has been, followed at Monte Nerú, seeking a weak strategical point though it my be strong tactieally, is estimated that the Austro-Geraan losses are 20,000

Close. Upon the heels of the Austro-German advance comes nother pence feeler from Austria. The Austrian" Premier, Dr. Seidler, speaking in the Reichsrat, announced that Austria is still ready to sit at the peace table if the enemy is ready to create the foundation of equal inter- State relations.

J|

¿

ALLIED PROGRESS IN THE WEST.

Landon. October 30. Field Marshal Sir, Douglas Haig reports: The Juniskill ings, riding north-eastward of Croisilles, prisonered' a few. The Belgians, successfully raiding, prisonered a number northward and southward of Dixmade. Our low-flying aeroplanes on Sunday fred many rounde at troops in trenches and shellholes and dropped one hundred bombs on aerodromes" and billets. They bombed at night time Centrode nerodrome, Courtra station and railway stations in the neighbourhood of Roulers,

J

Reuters correspondent says: The French and Belgians carried out successful operations to the north of Merchem. The French captured Luiglem village, and the Allies now hold the whole of Merchem Peninsula. Artillery fire has been reciprocal along, the entire battle front. Our acro planes were busy all day long on Saturday and co-operated with our artillery. We fired several thousand rounds, at ground targets from heights ranging from a hundred to a thousand feet and dropped twenty-nine heavy bombs over Roulers. Station, six above an aerodrome, 121 lighter bombs on billete cast of Lens, and 184 at other targets.

A wireless German official report says: We repulsed the English northward of Basinge-Staden railway and repulsed the French twice near Braye with heavy losses.

Paris communique says: There has been violent artillerying on the fight of the Mense and an intermittent cannonade on the rest of the front.

ANOTHER GERMAN PEACE PLOT,

Londay, October 30.

The Lametroopel," a Belgian newspaper published in London, discloses that another German peace plot has been summarily rejected. To break the entente Germany propos ed a separate peace with Belgium through an emissary, a well known Belgian magnate, who interviewed the Belgian Premier at Paris. The preliminary conditions presented were complete restoration and recognition of the independ eace of Belgium, indemnities for war expenses, reparation for destruction and the convocation of a peace conference under the presidency of King Albert.

RAIO ON ENGLAND FAILS.

London, October 30.

An official report states: Aeroplanes attempted a raid on the tooth-east counties to-night. Our-neroplanes ascended and the guns and lights, were in action. The hostile aero- planes did not succeed in passing our outer defences.

;

A HISTORICAL PORT

A magnum of the Double Diamond, David,

to drink the health of Mr. Linkinumber."

„nal" Charles Dickens "Nicholas Nickuzey"

CHARXXXVI.

DOUBLE

Established 1715.

DIXON'S

(DIAMOND

PORT.

This Brand has been shipped without infern

for the last 100 years and is the prop

MORGAN BROTH

in obtaining American gold, the effecting delivery, he were to CAN BE HAD FROM ALL WINE AND SPIRIT MERCHANTS.

United States might prohibit the insist on receiving from his buyer. importation of raw silk and an extraordinary payment in the babutas. To obriste this contin- shape of an ingressed premium geroy it seems that the Japanese 'ngalost war risk.”-

BOLE AGENTS 1 -

H. RUTTONJEE & SON,

16, Queen's Road.

HONGKONG SHARE REPORT-

&-6ELLERS; SA-BALES; B-BUYERS; N.-NOMINAL,

OFFICIAL PRICES.

BANKS.

H. K. & S. Banks s..

H. K. Fires

BANKS.

BANK OF CANTON,

LIMITED.

HEAD OFFICE, HONGKONG

FOREIGN EXCHANGE and Ganerai Banking Business Transacted..

INTEREST ON FIXED

*DEPOSITS:

#650

MARINE INSURANCES. Cantons

b. North Chinas b. Ilnions Yangtszes

$920

1. 120.

$800

b. ex 73 $205

FIRE INSURANCÈS.

China Fires"

b.

$181 $310

SHIPPING:

Douglases

Steamboats

Indas (Def.)

BB

5.

Indos (Pref.) b. Shells

д.

$3 $19.25 #116 $83 107/6

For 3 Months 3% per annum.

For 6 Months 4% per annum.

Ferries

b.

$284

For 12 Months 41% per annum LOOK POON SHAN;

Chief Manager.

REFINERIES.

Sugars Malabons

ss, &.

$85

b.

$294

MINING

Kailana Langkats Raubs Tronohis Urals

401-

b"

t. 191

B.

D.

$2,50

28/

30~

28/-

Oriental Cons, 11.

DOCKS, WHARVES, GODOWNS, &C. H. K. Wharves b. Kowloon Docks. b. Shai Docks b.

BANQUE INDUSTRIELLE

DE CHINE

行銀業實法中

Capital (34 Paid up) France 45,000,000

(1/3 of the Capital subscribed by the

Government of the Chinese Republic.)

Chairman of the

Board of Directors Andre Berthelot. General Manager A. J. Pernotte.

HEAD OFFICE:

74 Rue Saint Lazure, PARIS BRANCHES: PEKING. SHANGHAI, TIENTSIN BONGKONG. and SAIGON. BANKERS,

In FRANCE: Société Générale pour favoriser le Développement du Com- merce et de l'Industris en France. In LONDON: London County & West.

mfnster Bank, Ltd.

In NEW YORK: Redmond & Co. In ITALY: Banca Commerciale Italiana, Telegraphic Address: CHIBANKIND.

Interest allowed on Current Accounts and Fixed Deposits, Terma on application. Every description of Banking "and Exchange bazinese transacted.

K. ROUET DE JOURNEL, Manager. HONGKONG BRANCH: Queen' Bußding.! Tel. No. 2152

5. Chater, Road.

Hongkong, 20th August, 1917

.

$86 $117 1. 761

LANDS, HOTELS AND BUILDINGS. Centrals

b.

H. K. Hotels b. Land Invest H'phreys Est.

II

b.

K'loon Lands

12:

$83 590. $88 $5.75" $30

S'hai Lands

S

t:74

West Points

P

Reclamations

До

$85 $115

COTTON MILLS.

Ewos

The

€155

Kang Yike

n.

S'hai Cottons

1.

1. 15 t. 114

Yengtszepous 1. Orientals

t. 53⁄4

✡. t. 364

Borneos

D.

#61

$4,10

b..

$714

b. x. d.. $21

n: b.

$7.40 $48

До $1474

0

D.

n

Trams, Low Level b Trams, Peak, old a. Trams, Peak, new s Laundries

ກາງ $10 $6,65

#83

00...

HURRY 18 MĖN.

LOKK

£0.00 .

10 MT.

cts, 90

b.

$3

1.00 1.30 13.00 de

14...

28 Max

21472

-

26 MIN.

M

U. Waterboats n...

10 MIX

$13

1.45 PM. 10

1.N ..

SMIN.

Watsons

Wm. Powells

Morning Posts

.S.

B.

D..

$6

- 6.00 PM.

£5 MIN.

10 Mix

$6,50

$29

MISCELLANEOUS.

China Light & P.n. Providents Dairy Farms Green Islands H. K. Electrics H. K. Ice Co., Ropes

Steel Foundries

GORRECTED TO NOON WEDNESDAY OCTOBER 31, 1917,

BENJAMIN & POTTS,

Share and General Brokers,

Princes, Building..

Tel, address: Broker.

EXCHANGE.

T/T..... Demand

30 dis.

SELLING.

2/1134 2/11

2/114

60 dis..........var

2/1156

4 m/s........

2/114

T/T Shanghai............

Nom,

T/T Singapore ****** 125

T/T Japan

1364

f/T India

Nom.

Demand, India...... Nom,

.70

T/ San Francis-1

co & New York/ T JAVA.....

164

T/T Marka... Nom. T/T Franca............ 4.07 Demand, Parie ... 44714

BUYING.

4 m/s. "L/C............ 3-4 31-46 6 m/s. L/C...

4 m/s D/P...mai

30 die Sydney &).

Melbourne...

30 d/s. San Franc-1

isco & New York

4 m/s. Marks

+4478

1/6-18

3-$4

1⁄4

Nom.

4 mis. France.... 4.22

4.27

6. mie. France... Demand, Germany.. Demand, New York, 70% T/T Bombay

Demand, Bombay... Non. TIT Calcutta ************ Deinand, Calcutta... Nom. Demand, Manila ... 140 Demand, Singapore. 125 On Harboe HOA HOÀNG

3% prem On Saigon... 3% prom. On Bangkok......... 5244 Sovereign

f.70 Nom.

By Pan

Gold Leaf, per oz... 13.40

Bar Silver, per oz....

SUBSIDIARY COINS

4

DISCOUNT PER $100:

Chinese... 20 cte. pieces 44% die "hinero... 10

Hongkong 20 ets. pieces.,

Hongkong 10

prem

NOTICES.

NOTICE.

PEAK TRAMWAY CO.

LIMITED.

TIME TABLE.

MIGHT CARE. 123, and 9 rau 130

15.80 1.3. very half boot

11.00 PM to 11.45 p.3. ity gaier of an hour. MONDAYE

TML.M.

AM, 201 ELAN 10

100 2.34 16

LADYJL, 10

10. A.M 21.00 A.. 1100 Nou

100 н ANFM.

RYMIN,

₪ 220IN

T ST

30 MIN.

LA MIK

10 M.

•

18 SIM

10 sm...

""

4.30 P.M. 8.30 PM. EIGHT CARS ar en Week Day

SATURDAYE: **

Kura Cara Mudnight

IPECIAL CARE

By Arrangement at the Cocopacy's Offion, Maxandra Hidinge.

De Soeux Hoad.

** Basson and ponen tekets available for all- purs son already full: running ai tha tema stated in the Company's time blew, but not for Deck ders, can be obtained on appileation at the Company's Office -No Besada ticket wil be Samadi tundi) payment therefor Eua been made in Bank Kovers or by Chrise or Cosgradona order representing Bank Noto

JOHN D. HUMPHREYA &ÇO.

THE CHINA PROVIDENT LOAN AND MORTGAGE CO., LTD. (Capital Paid up...$1,250,000:} Tower on Mongage of Hozas Property, de deoda zeceived on Biorage. Lévenant mads on Merchandise. Loerenda e`tha Irovidens Bystem.

TEDEYER, EXECUTOR OF WIKA. ATTORNEY, &L Undertaken and Hoverać. (Haben sad Parkanlars on application) To the Offi ví

SHIWAN, TOMES & CO.,

General Manors.

MARTIN'S

APIOLESTERL KLEPILLS

plan of any izmamlarny or Da Nyalam Ramey does na ba samfaraferad. Zone =)

MARTIN'S

BANKS

HONGKONG & SHANGHAI BANKING CORFORA

TION,

Paid-up Capital .... $15,000,000 RESERVE FUNDB:

Sterling

£1,500,000 at 21-

-$15,000,000

Silver $18,500,000

**$33 500,09%

Reserve Liability of

Proprietors............$15,000,000

COURT OF DIRECTORS,

Her. Mr... Dodwell.-Chairmer, Hos. Mr. P. B. Entyou: ~~Deputy Chairma. Hoe, Mr. Anton, F. C. Betcher, 240. G... Edkies. Mog. Gubbay, Jon- E. Y, D. FAIT, E accendes, eg.--

Compton, Esq.

A.

CHIEF MAKAREK Hongkong-N. J. Baba Sg.

NAFACER

Shangbai. Rephen, Eng London Bankers-Londos County she Westminster Bank, Linked.

HongkongIntaret Allowed i

On Carreal Accounts at the rate of Forest).pe

SPACE on the daily balance

ON FIXED DEPOSITS,

For 3 months, if per cent, par NAUYE; For tonikk, 3 per cent, per esasia,

or le mural, 4 per cent PAT ERREIN

N. J. STABE,"

Chief Manager.

HONGKONG SAVINGS BANK...

THE Resiness of the abu Zank ✯ conduct f the HONGKONG AND SHANGHAI BANKING CORPORATION, Kases may be obtained an applies

imam munikly balances at 123 per CEEL. Depositor may Transfer, at ibak option, balanym of $50 or more 10 the Hongkong and chal Back to be placed on FIXED DEFORTY. • Teut per BARDMI.

For the Hongkong and Bkanghal Bankts & Corpoca- Lioa

N. J. STABE.

Chief Manager.

THE CHARTERED PANK OJ INDIA, AUSTRALIA AND . CHINA.

incorporated by Royal Chacune sag

READ OFFICE-LONDON.

PAID-UP CAPITALS, BUC RESERVE FUND

REREKVE LIABILITY OF

PROPRIETORI

acum

FOREIGN EXCHANGE and General

besiness transacted. CURRENT ACCOUNTS opened and $12) DEPOKITE received for 1 year of aborter periodu »* races which will de cunted on application,

T. C. POWNING, -"

Metage Hongkong, 11th April, 1912,

THE MERCANTILE PANT OF INDIA, LIMITED.

Head Office 15, Gracechurch

3treet, London. 2 Authorised Capital ...... £1,500,0OF Subscribed Paid T Reserve Fund

18

BANKEN.. The Bank of England BRANCHES pak

1,125,000

562,500

600,000

The Leadon last Stock Bank, Inc

Bombay Calcutta Colomb

Delni

Galle

Horghant

HOWIRD

Kandy

Fors Lools (Music)

Karack!

Kota Bharu

Kuala Lumpu Madras

Penang

Kange

2 bangkat

$logspot

HONGKONG BRANCH. Every description of Basking and Exchang holders transacted.

Josesest allowed on Carrrat &cCOUDLEAF COL per annum on Daily Ealances, and on Fland Depe si vales which may be ascertained on application.

C. CHAMPKIN,

+J

Acting Manager

INTERNAŢIONAL BANKING

CORPORATION,

HEAD OFFICE:

15. Wall St Kew York

LONDON. OFFICE;

st. Ehbepega, E...

CAPITAL & SURPLUS U.S. $6,500,00 UNDIVIDED PROFITS US. $7,348,000

U.S. $7,848,000

BRAN HRS.co

BOMBAY CALCUTTA

CANTON CEEU, COLON

LONDON MANILA MEDELLIN

РАКАНА PFKING.

HANKOW PUERTO

HONGKONG PLATA

KOBL

KAN PEDRO

DE HAGRI SANTO DOMING SAN FRANCISCO SHANGHAI BINGAPORE

TIENTSIN

YOKOHAMA

with

Thry.ch Lector diario NATIONAL CITY BANK OP NEW YORK. the Bank is lie to oder e Sarvkes of the Branches of that Instincion in America, and elsewhere, andy

Cas Somet BAHIA, BUENOS AIRES, GENOL, HAFANA' MONTEVIDEO, RIO DE..

34:

SANTIAGO DE CUBA BANDANEIRO

PABLO FETROGRAD VALPARAISO,

All kinds of FOREIGN & LOCAL BANKJES BUSINESS Traneacted.

CURRENT ACCOUNTS opened and FIXEL DEPOSITS received at rates to be ascertained ar ! application,

GEORCE HOGG,

Manager,

Hongkong. 26th September, 1916

THE

YOKOHAMA SPECIE BANF,

LIMITED.

Established 1880. Authorised Capital Yen 48.000.DUT ·· Paid-up Capital .... 36,000,00 Reserve Fund...... " 22.100,000

Fead Office.-YOKOHAMA

+

Branches 320

Apting-Halan

Bombay

Calentle Changchun Daires

Уку

Berda

Hankow

Fonolul Kobe

TANG-THRE

Londos

Lot Agric

New York

Peking Myoj (For

Artber

Shangha

Bluestions

Boatlis Tiebkag

Toky

Brecelerð før, kxed periods aÍ PEDOT KI

as application).

EISHT ONO, MA October:

ong. 10th