1919-08-27 — Page 2

LIFTS

and

NOTICES

*

WAYGOOD-QTIS

ELEVATORS

FOR ALL PURPOSES.

FOR QUOTATIONS APPLY TO THE

SOLD AGENTS

DODWELL & CO., LTD.

MACHINERY DEPARTMENT.

Maltheid Reefing

SOLE AGENTS —

BRADLEY & CO.,

LTD. (MACHINERY DEPT.).

QUEEN'S BUILDING, CHATER ROAD, HONGKONG,

THE STANDARD LIFE ASSURANCE CO.

New Scheme for Children's Early Endowment

4

Principal features: Small Premium, Liberal Surrender Value, He Medical Examination, Return of Premium in the Event of Death, and Numerous Options at the Age of 25.

FULL PARTICULARS `TO WRITE FOR PAMPHLET AND

DODWELL & CO. LTD. Agents.

THE HONGKONG ROPE MANUFACTURING #:

ESTABLISHED 1883: MANUFACTURERS OF

PURE MANILA ROPE

3 STRAND

4to is"

CABLE LAID 5" to 15"

GYROOMTIXINGR | ❤ ÚYNOUMPERENOK,

4. STRAND 3" to 10" OIRGUIFERYNUL.

Oll Drifling Cables of any size up to 3,000 feet in length, Prices, Samples and full particolars will be forwarded an application.

SHEWAN TOMES & CO.

LEMOS. BROOKE'S

FINEST

Lemon Squash.

SOLE AGENTS:

CALDBECK MACGREGOR & CO.

15. Queen's Road, Central. Telephone No. 75.

HONGKONG JAPANESE- MASSAGE ASSOCIATION.

MZ. UL. SUGA Mrs. A SUGA ML HONDA MLS. HONDA 8 Queen's Road Central Hongkong

METALS

of all kinds, especially for ship building and engineering works. Largest and best assorted stock in the Colony,

SINGON & CO.,

(Established A. D. 1890)

HING LUNG BT.

Phone 513

MEE CHEUNG.

P

ARTISTIC PHOTOGRAPHER PORTRAITS TAKEN IN; ANY

STYLE DESIRED! FRESH' SUPPLIES "OF - KODAK FILME"=AND PAPERS=/RECHYKS

General Managers.

NORTH BRITISH

AND

MERCANTILE INSURANCE CO.,

in which are rested the shares of THE OCEAN MARINE INSURANCE CO, LTD.

AND

THE RAILWAY PASSENGERS ASSURANCE CO.

The Undersigned AGENTS for the above Company are prepared ACCEPT RISKS against

FIRE at Current Rates,

SHEWAN, TOMES & CO. Agents.

CREEN ISLAND CEMENT' COMPANY, LIMITED."

PORTLAND CEMENT. --

In Csaks of 375 lbs, net In Bage of 150 lbs. nat.

SHEWAN, TOMES & CO.

General Managers, Hongkong, 16th August, 1916.-

MASSAGE HALL

23. FLOWER STREET.

MR. T. TAKAYE, MRS. MORITA.

CERTIFICATED: MASSEURS.

Parents TruATION IN TAKEN Own Homes 2 D.,

PUBLISHED ANNUALLY.

THE

LONDON ADIRECTORY

-with Provincial & Foreign SectDEE, ? sabine traders la admisunicate direct with-

MANUFACTURERS & DEALERS in-Laution, and in the Provincial Towns and Industrial Centers of the tušted. Zingdom 1934

MAZZANINE ANd ether dataid ken standard under. zaces Sham: 2.00, trade, beading, including

SEXPORT - MEROSANTS IN

with batedes presioniArt of the Goods shipped sos, the Comună mult Forgien Megiate supplied;

kranend miter ke Portico which they :stil,

DERSS-CARDül öt Vérons desiring"

Lat is act of 20 shilings for sach.

mánt which they, ara fasertal:

(Chisatory vit be sent bý parosl

THE HONGKONG TELEGR

NATIONALISATION,

TO BE OR NOT TO BE

“Scrutator," writes in Truth. follows

Coal may destroy the Coalition. That, perhaps, would not greatly matter. Coal may seriously in- jure our manufacturing, indus- tries. That would matter a great deal. On cheap coal was built- up the imposing fabric of British industrial and commercial supre- macy. Dear coal may undermine its foundations. On the morrOW of the greatest military victory in its annals this country finds itself in a most paradoxical, almost critical, situation in regard both to coal sind railways. We bare the richest coalfields in Europe, and yet Sir Auckland Geddee anticipates a loss of $46,000,000- on the working of our coal mines in the next twelve months. We used to pride ourselves on possessing the best railways in the world, but Sir Erie Geddes tells us that as things are we stand to lose £6,000,000 in thei current year on the working of our railways. The country is bewildered by these disclosures. It is foolish for Ministers to wring their hands impotently and put all the blame on the miners and the railwaymen Advances in wages to meet the increase in the cost of living have been important factors in' creat ing the present very disturbing situation, but Ministerial bung- ling has been a contributory

cause.

For extrication from our formidable coal and railway difficulties we are to look not the Cabinet but to

to

two Ministers who are not even members of it-the brothers: Eric and Auckland. Unknown to fame before the war, and dis- covered by Mr. Lloyd George when he was casting about for

men of push and go these remarkable brothers have ad- vanced so rapidly that now the shaping of this country's indus- trial and commercial future is largely in their bands. Da coal. on railways, on trade policy the

are

who ca

CORONA

The Pureen Tveng-Sophoc Come in and lean what ? will do for you.

ALEX. ROSS & CO., 4 Des Yaux Road Central-

NESDAY, AUGUST 27. 1919.

chill speaking when be told the electors of Dundee eight months ago that the Cabinet had decided to nationalise the railways?

While Sir Eric has given an outline of a reform scheme that he has conceived in order to make the railways pay, Sir Auckland method with the colliers: it is to has adopted a shorter and sharper clap an extra six shillings a ton on to the already high price of coal. This is not a policy; it is a device. Its effect, whether or not its motive, is to cast odium upon Mr Smillie and other representatives the Coal Commission by fastening upon them the sole responsibility for the increase in price. These people, so the Pre sident of the Board of Trade seems to say, wrung unreason-

011

able

concessions from the

P. ANDO, COMPANY,

LORD INCHCAPE ON "FIGHTING FOREIGN

COMPETITION;

Lord Inchcape, G.C.M.G, LC- S.L. K.GIF. (chairman), presided over an extraordinary general meeting of the above named com- pany for the purpose of passing

confirming special resolutions for the alteration of the regul anons of the company by inserting in them a new regulation design- ed to enable the company to caputalise all or any part of its undivided:profits by issuing to the shareholders entitled thereto against the amount so capitalised fully paid stock of the company af "present"unissued and also to enable the company to pay dividends specie by distributing stock oz ofaer specific assets in satisfaction of the amountdesired to be distributed

Lard Inchcape BaidThe resolutions which have been drawn up by our legal advisers, and copies of which are in your hands, may appear somewhat verbose and complicated to the lay mind, but we are advised that the wording is necessary for compliance with the law. Briefly they mean that we shall be en- abled to issue to our deferred. stockholders stock instead of cash by way of dividend or bonus, thereby allowing us to retain our cash resources for building ships and developing our business, and further that we may distribute some of the securities which we bold, instead of paying our dividend and bonus

in

cash. The resolution, if adopted, will give the company the powers held by most companies, and it is desirable that we should be freed from the disability under which we now stand in the terms of our regulations. The directors nstar- ally have not decided whether to

avail of the proposed powers, or suggest to the stockholders to

may recommend the company to on the method by which they

exercise

them, should they decide to ask the stockholders to wise to come our chickens before avail of them. It would not be Government's mind is not known. Only the brothers Geddes, of all

they are batched. In any recom- the Ministerial hierarchy, seem

mendation, however which the to have definite ideas: they

board may make, the interests of are moving forward with

the company will be the first con- igorous strides while their

sideration. After this meeting it colleagues lingering at

will be necessary to get the separ- the cross-roads of indecision.

ate consent of the preferred stock- When the House of Commons country's necessity, and behold holders to our proposal, and when- asks if the Government really the result! The miners represent the meeting is over, if the resolut- bas really a trade policy, Sir atives, however, positively affirm ion is adopted in the company as Auckland speaks knowingly of a

that there is no need whatever a whole, a meeting of the preferred certain type-written document in

for so large an increase in price.stockholders will be immediatel's a certain locked box. At the

at which the reso- Their co-operation would have held same rime that

Intion the Prime been invaluable in increasing the

if adopted Minister and Mr. Bonar Law are output of coal-the really vital will be submitted to them for their acceptance. After that protesting privately to

matters but by the temper and rebellious supporters that State the time of his

meeting, if the resolution is pass- ownership of railways is not the

Sir ment

ed, a meeting of the deferred Government policy, Sir Eric is

stockholders will be held at which busily occupied in taking all the

steps, that are

their

&.. necess-

announce-

has

Auckland made sure of their hostility. This piece of sheer tactless

ness

adopted.

DOW,

MO-

NOTICES.

Our Stock is

representative of the

Best Makers

of the

World-

Robinson's

OWING to the present high Fale of EXCHANGE we are now offering our KODAKS. and FILMS at very lowest possible prices." Inspection cordially, invited.

A. TACK & CO.

+

2. Des Vaux Road, Ct

Chappell Brinsmead Estey Challen

THE CHINA PROVIDENTE LOAN AND MORTGAGES

CO., LTD. (Capital Paid up.........$1,550,000)

Boude mentred on SumEK

i saldo on the Providers PERUSTEE EXECUTOR. O vote

(Hate and Paraleniaze act

Be the. Qrics

SHEWAN, TOMES & 00.

General Managers.

DRAGON MOTOR CAR

CO.

HEAD OFFICE & GARAGE-24 & 25 DES VIEUX RD., CEN. BRANCHES 117 PRATA EAST & 26 NATHAN RD, KOWLOOL

SOLE AGENTS FOR:-

$19

**CHANDLER. HUDSON,

AND

官

ELGIN MOTOR CARS

OVERLAND "

HARLEY DAVIDSON MOTOR CYCLES

AGENTS FOR

STERLING TYRES

NEW CARS & TYRES IN STOCK

EXPERT ARMERS

TEL. 482 BEST CARS IN THE COLONY FEL. 482.

FOR HIRE.

the resolution will no doubt be THE SIAM INDUSTRIES SYNDICATE

TOILET AND WASHING SOAP

If the resolution is carried, a confirmatory, meeting of the company as a whole will be held on the 18th of this month, as required by the regulations, and a notice has already been circulated. It is a mistake as a rule to meet difficulties half-

have regrettable may results. It is not only the miners alone who are responsible for the decline in output. There are contributory causes. Does not the existing system of State con- trol and guaranteed profits con- currently with private manage ment tend by its very nature to way, er to anticipate them. I reduce production? What is the am satisfied no difficulties will be Government's policy in regard to raised in the way of our proposals. coal? Is it a fact that, with the but it may be convenient, and at knowledge of the Cabinet, or of the same time courteous to the some members of it, the late Coal preferred stockholders if I make Controller worked out an elaber ate scheme for the nationalisation of the coal mines? What has become of that document? Does it, too, repose in Sir Auckland's locked box?

Samples & Prices on Application to

→

FOOK LEE &

Phone 1174 & 1950.

CO.

Sole Agents.

GENERAL NEWS.

sry to nationalisation. Bath the brothers parry inconvenient questioners by speaking of the period of transition. On Septem- ber 1 says Auckland, the transitional period will expire: before then the House will be informed of our trade policy." In like manner. Eric on railways: When the experimental, two years are over, the whole position is to be re-examined.

Sir Eric, like Othello, bas done the State some service. It may

reference to their position in be true that his masterly rear-

Or bonus and to take deferred connection with the proposals we

We are not with- ganisation of the military rail-

are submitting for their adoption. stock instead. ways and other transport services

One or two preferred stockholders out reserves. The P. and 0. in France in 1916 prepared the

have asked how they are to Company has been financed on VICTORY LOG BOOK FOR NAZA way for our military victory. It

benefit, by agreeing to the re-a conservative basis and it may *Mr. James Buchanan solution. They say, where do we be that the time will come bought this and presented f may be true that he acted not "This question of nationalisation come in? My reply is that they when it will only. only with boldness, but with tact is a tremendous one. Before it will benefit by their security fair to

the nation as a tribute to th the deferred stock-Navy of to-day," said Mr. Bank and wisdom when as First Lord is settled there will be a bitter ranking as it does for a cumul-holders to capitalise some of our to a representative of the Daily of the Admiralty he told a dis-fight, and the lines of cleavagelative 5 per cent. dividend before reserved by giving them stock. Mail at Messrs. Sotheby's tinguished Admiral not to stand will not be those of party politics. the deferred stock gets anything. This would be more in the com- auction rooms, New Bond-street: upon the order of bis going, but to Coal mines and railways no doubt if the latter stock is increased in pany's interests than distributing recently, on the conclusion and go at once. But does all thisjustify stand in a category of their own amount, giving a greater earning funds, and so long as the stock bidding for the log book off6 his having an absolutely free Men who are not Socialists, and power on which they have the holders have confidence in the Victory. hand to de as seemeth unto him who firmly believe in the virtues first call, and this of course is board, no doubt the issue of stock round a series of brown parche The log was passed good with all our transport of private enterprise and' initia-self-evident. It agencies? Is Sir Eric carrying tive, admit that there is some-stock-bolders were to throw out acceptable.

the preferred on favourable terms would be ment sheets very fully covered I merely, however, with the sprawling handwriting out a plan of his own, or is he the thing to be said for State owner- the resoldtion it would fall to the mention what is in our minds of Thomas Atkinson, sailing. executive agent of a definite ship of a que natural treasure ground, and we should be where without in any way committing master of the Victory. The log Cabinet policy? Is the Cabinet like coal and of a great mono we are now, but in favour of nationalisation or is polist service like railways. But perectly confident that they will

I feel ourselves.

lends at 9.15 am on the mor it not? Like Rosa Dartle, I only the indications are that even in not adopt an attitude which the rights of the preferred stock and so does not contain Watson'

A stock holder asked what were ning of the Battle of Trafalgar want to know. Sir Eric allays regard to coal and transport would be detrimental not only holders referred to under the more famous signals. But, never misgiving in the House by saying capital means to fight bard. to themselves but to the company charter. that the one alternative to the As

theless the old sheets in. was shown on the Transport Bill would be in- Coal Commission, employers are importance to our great undertak-charter provided that if any fresh intimate story. Bidding

as a whole. It is of the utmost The Chairman replied that the big box covering all a vivi mediate -nationalisation of the

not effective championsining shat we should be free to build issue of stock was made, except £1,000. There was a paus railways. But does not the public of their own cause. But our cash resources so as to in payment of assets, the stock then it rose to £2,000. Nov announced policy to be carried it is probable that on this ques make ourselves strong in view of would be offered pro rata to all Banks (Mr. Buchanan a carried out in the next two years tion they will obtain the powerful the future, that is before us. We sto holders in the company and entered the late. So itself point unerringly to nation support of Lord Robert Cecil se face to face with foreign com if that resolution was carried this identity was not alisation? After the unification who, though he takes the work petitors who have made enormous would enable the company to offer made a bid of £4,000 of all transport agencies man's view as against the em- profits during the war, their ship to the deferred stockholders fresh countered with under one control with common ployer's on most industrial ques having been free while ours have stock in lieu of a bonus or that the bidi nses of all rolling-stock and State ions, is a thorough going been under requisition at practi-vidend. ownership of all wagons is there opponent of nationalisation Forcally re-war rates

[16:£4,9002/ anybody, so simple as to imagine the present, the political world foreign coups

mystery bidd that the railways will revert to will want to know where the

Land abo the out system of private control Government really stand on this and unrestricted-competition

they momentous queston - Ever Either the Cabinet does Whither it is ti

The resolutions were unsuim

önor, onniy which The

rman added that.