1919-11-20 — Page 1

EDISON

LAMPS

FROM ELECTRICAL DEALERS

The

Unitex

Hongkong Telegraph. C

(ESTABLISHED 1881).

6890 - 四號十弍月萱十英港香 THURSDAY NOVEMBER 20. 1919.

RECTER'S TELEGRAMS.

THE PEACE TREATY.

AMERICAN SENATE'S DECISIONS,

REJECTION OF" SHANTUNG ARRANGEMENT.

Washington. November 16.

The Senate has adopted the reservation withholding the assent of the United States to the Shantung arrangement, and also the reservation giving Congress authority to regulate the appointment of Americam delegates to the League of Nations and International United States alone shall interpret the Monroe Doctrine, which is wholly outside the jurisdiction of the League of Nations.

REPUBLICANS OVER-RIDE OPPOSITION.

LONDON AND PARIS MECH CONCERNED.

REUTER'S TELEGRAMS.

THE RUSSIAN QUESTION,

DEBATE IN PARLIAMENT.

日八廿月九

SINGLE COPY: 10 CTS

$36 PER ANNUM.

Are Good

THE HIGH DOLLAR. given to the commission agen- TO-DAY'S EXCHANGE. cies and giving them out to share gamblers. They are, therefore, not FACTORS AT WORK RECENTLY. helping the merchants.

INTERESTING FACTS

UNEARTHED.

This

The closing rate of the dollar, on demand, to-day was 50/-led, action has also effected exchange THE WEATHER. because the commission agencies refuse to exchange the inward 30.05 Temperature 3 pm-7L

Forecast-Fair. Barometer:

bills drawn by their customers in

["Hongkong Telegraph" Special.]] different places because they have Humidity 2 p.m.-56

The exchange question is the not got the money. The foreign --

spirit of resentment at foreign interference was awakening in representative to glean having agencies in the Straite Straits money, on each double

which had

and

outrage: one

Colonel John Ward said Britain went to Russia for her own purposes and thereby saved the lives of perhaps hundreds of thou sands of her own men. Our sole aim. in, going to Russia was to

our men, and we had made promises accordingly. Therefore we ought not now to repudiate them.

1

**

London, Noveniber 17, In the House of Commons, opening the debate on Russia. Sir most common object for talk to banks rarely advance clean loans Settlements, the Chinese ser Donald-Maalean urged that Russia should be left to work cother own day in Hongtong, to the exclut to Chinese merchents. These fit to the Indiase at salvation. He declared that the policy of intervention had failed. The sion of everything else, even commission agencies when they big profit. I think ther make Boleberists were stronger than ever. He was of opinion that a housing reform. We deputed sell goods to Chinese houses at least 80 cents to a dosa Russia, and our policy should be devised accordingly. He em- the latest information on

the Settlements. Australia and the eagle, after deducting of codes phasised that the question of our future in India and the East de subject and the reasons why ex- United States press them for all charges. pended largely on whether we were able to pursue our mission there should be soaring daily payment, with the consequence The Indians send the gold to

higher, and in the interview that the houses here have India. peacefully.

which he suceeded in obtaining to wire to their agencies Lord Robert Cecil said that it was difficult to exaggerate the with a gentleman who is well or

"Is not the export of gold to branches in foreign India from the Straits prohibited** Commissions. It has also adopted a reservation declaring that the gravity of the international situation of Europe at present. posted on the undercurrents at countries to remit the money back.Jenquired our representative:

The reservations of the United States.. Senate,work, we are to-day able to pre-That must necessarily have na 1.have no idea. "I know this,

been provisionally accepted, were 30 sent them to our readers.

effect on the exchange. This is that most of this gold finds its extensive 34 B almost amount to the United States" The gentleman in question better illustrated by an example.way to Calcutta and Madras repudiation of the Cat renant, which also meant the repudiation of stated that some of the big foreign Suppose A is an exporting house. This is the worst feature of the Peace Treaty. The position was moet grave but, whatever happen- banks previously used to land oat He exports 10,000 bags of Washington, November 16. ed, the League must continue, even though the United States decid-money to the Chinese banks on beans to B sad arts B to sipostion.

When is the export of gold to From the moment the closure was declared the Republican ed not to participate. Lord Robert Cecil, continuing, said that the lodgment of security at 2 temit. B then has to remit through the State going to and 7 majority in the Senate over-roda all opposition. The Senate has Bolshevism had been a regime of atrocious and cold-blooded per cent. per IZEN CIE. The the banks in Australia, the

"Not yet. They bare large hitherto adopted all but two of the Foreign Relations Committee's murder

of the most bloody and latter iu tura lent this out Straits Settlements or America.stocke hera Some more gald is despotisms that .had ever stained reservations including the reservation to the United States of the brutal

history, to smaller foreign banks at 10 per which means that the banks have coming from America The right to increase its armaments without the consent of the Council Armed foreign intervention was, absolutely impossible, and cent, thus trading at the expense to sell on the banks in these Chinese made a lot of forward of the League of Nations, whenever the United States is threatened he hoped that Denikin and Koltchak would abandon the Moscow of the big banking institutions of countries to get the money to contracts with the banks here for by invasion or engaged in war; also, the right to permit the nation-expedition and re-organise the territories already occupied establish the Colony The large banke, meet the bills payable in favour gold shipments to samarica, ale of a covenant-breaking State residing outside that State, ting a stable Government This would speedily have an overwhelm-hen they got wind of this of the exporting houses.

These gor speculators find it trade with the nationals of the United States. The Democrats have ing moral effect upon its Bolshevist neighbours. Lord Robert recalled their loans, (which Although exchange is very very profitable to import gold called a conference of friends of the Treaty early next week with a Cecil urged that the Government should be absolutely clear and tightened the money market favourable at present, there are from

definite, displaying no ambiguity or vacillation.

America ani sand it view to finding a compromise.

considerably,) and locked up from few imports owing to the to the Straits. in the Treasury. This caused a boycott movement $6,000,000 to $8,000,000 in notes internal strife in China and the metal arrives in Hongkong it is When the

severe shrinkage in the note

straightaway stippad to Singas circulation, which is one of the terviewed said:"As I told you, on the merchants or com Continuing, the gentleman in-pore, and document bill are sent the native banks gave a small stituents thera. This not only causes of the higher exchange.

Another contributory influence return to their depositors and affects the Hongkong exchange, is the native bank. The native advanced the money they receiv-but also the cross-rata between, banks used to get money on de-ed at high interest to speculators, New York and Landon Becansa posit from Chinese, who were The Chinese depositors got wind the banks in New York wha paid 10 to 12 cents per day on of this fact, and demanded they have a double $1,000. This money the banks better Tetara, submitting eagle in Hogar aðalstigad to lent out at 30 cents daily par that the native banks were no sell T. Tasalan soat to ga $1,000 to share speculators. Their longer doing clean loan busi-the money to buy the gold schema-of mortgage was very ness as they used to do previously, dollar attractive. for

share and utilised their deposits in part 4 low American cross mala for shipment to this speculator could get the fallabare mortgaging, thus locking on London makes the tall for value of his scrip if he were up their money. They demanded the bar silver higher. This ex- prepared to pay the interest the a higher interest and threatened to plains the bigh rate for silver at. native banks demanded. This make a run on all the indigenous present. Coupled with this, there is a direct contrast to the policy banking institutions. This threat trien shortage of the white metal" of the foreign banks, who insist, had salutary effect, for the Who are the people specula on at least 23 per cent. mar. latter soon raised the interest ting in gold here?" enquired our gin, but tend out at 8 per cent, from 10 cents daily per $1,000, to interviewer. against the 23 per cent. of the 22 to 24 cents per day. The

"Those who are shipping gold » worst part of the thing is this to the Straits Settlements are Chinese-owned banks, banking business has been con- money locked

For many years the native the Chinese banks have their practically gold leaf dealers and

tin native banks." "fined to Shanghai tael exchange and shares. wish the result

"Then you expect the market and Canton drafts. They do very that they had no other alternative to go up higher?" very little of this to-day. Pr. but to accept the depositors' terms. Yes. but there will be a viously they used to do a lot of "There is a tremendous amount reaction during the Chinese New "clean loans with Chinese mar-of gold being exports from here Year when the money market is chants woich nizant that to the Straits. Within the past generally easier and when there they

fortnight no less than $8,000,000 are less export biffs.. Chinese- commission agencies (Straits currency) worth of gold Chinese speculators come out and without security, The native has been sold to the Banks against buy (because exchange is so banks are doing extremely little of shipment of gold to the Straits. favourable) then there will be a this now, calling up all the loans When the gold reaches the Straits

reaction."

London, November 16. The decision of the American Serate in adopting reservations practically nullifying the Peace Treaty pas produced a situation which is viewed in London and Paris with much concern., The illness of President Wilson at this critical period increases the difficulty of forecasting any solution. One uncertain factor is whether the American people approve or disapprove of the Senate's overthrowing the whole labour of their President at the Peace Conference.

TEXT OF SHANTUNG RESERVATION. -

London. November 16

A Washington message states that the following is the text of the Shantung reservation adopted by the Senate: "The United States withholds its assent to Articles 156, 157 and 158 and reserves to itself full liberty of action in respect to any controversy which may arise under the said Articles between the Republic of China and the Empire of Jspan.”

THE FRENCH ELECTIONS.

London. November 16. The ten inches of snow in Paris are likely considerably to inter ere with the elections, in which over 2000 candidates, includin 431 ex-Deputies are engaged. The new Chamber will consist o 66 Deputies. compared with 69% previously, owing to Alsach Lorraine nominating 24 Deputies Only 616 Deputies will b elected to-dar, as the elections for the Colonies are fixed for the 30th. instant.

LANCASHIRE COTTON MILLS.

זי

LATEST SPECIAL TELEGRAMS.

(From Our Own Correspondents.)

SHANGHAI COTTON EXCHANGE.

CHINESE BOYCOTTING JAPANESE.

Shanghai, November 20. The Chinese Cotton Guild is boycotting the Japanese Stock Exchange and threatening the suspension of members dealing with The Cotton Mill Owners Association has been invited to join

it.

the movement.

The Chinese have planned an organisation to have their own Stock Exchange.

EARLIER SPECIAL TELEGRAMS.

gare

3

money

up

in

If the

I

AN EXPLANATION OF 219H PRICES,

London, November 19.

Roping to the operative request of their views with regard to the recent sales of entton mill- in Lancashire at greatly enhanced prices, the Federation of Master Cotton Spinners report that the selling prices were very considerably below the cost of erecting new mills, and that the effect of the higher values will be to stabilise the industry and conditions of the operatives.

AMERICAN COTTON.

(From Our than Correspondents.)

SHANGHAI NEWS ITEMS.

Shanghai, November 19.. Count Toulouse de Savine has been sentenced to eighteen months' imprisonment by the Mixed Court. He was convicted of forgery of the Russian Consular seal at Yokohama.

The Civic League has started a campaign for a Roads Board under the guidance of a competent expert in city planning.

NOTHING 'KROWN OF REPORTED REITISH BOYCOTT.

Londos, November 15.

A New York message in connection with a report from London iates that nothing is known of the alleged formål boycott of American cotton by British importers, although instances have occurred where British consignees have been insisting on insurance of cotton in transit in British insurance companies, which is partly attributed to the fact that many British manufacturers are stork. holders therein. American companies collectively have not attempted reprisals, although individuals have urged the Banks and

thers to exert their influence to check this practice.

TO-DAY'S CHINESE TELEGRAMS.

THE FOOCHOW INCIDENT, <--

Shanghai, November 19.

the recent incident, appointed the President of the Provincial The general citizens' meeting in Foochow in connection with Assembly to request the Tuchun and the Civil Governor to demand from the Japanese Government the removal of the Consul. an apology, compensation and the punishment of the guilty.

ALLIES AND RUMANIA.

EARLY SETTLEMENT EXPECTED.

Paris. November 16.

An Allied Note to Rumanja emphasises that the Allies expect a "decision to be reached within a week in regard, firstly, to the

CHINA AND THE LEAGUE.

Shanghai, November 18.

eracuation of Hungary to the final Rumano-Hungarian frontier in Paris that as China has not signed the Treaty she has not the On receiving informiation that a certain power has moved drawn by the Supreme Council; secondly, the siguing without re-right to become a member of the League of Nations, the Govero- servation of the Austrian Treaty and the Treaty for the protectionment has wired Wellington Koo to make enquires. df Minorities; thirdly, Inter-Allied control of Rumanian requisitions in Hungary.

ANTI-

SENATORS

PEACE TREATY

THE FIUME SITUATION:

D'ANNUNZIO STILL ACTIVE.

Paris, November 16.

PEACE DELEGATE AS FOREIGN MINISTER,

Peking, November 18.

Lok Ching-cheong has wired that he will accept the post of Wannunzio left, Flume with a squadron of destroyers and Minister for Foreign Affairs and will leave for Peking on the 7th landed a detachment at Zara, himself returning to Fiume:

proz

U.S.

HURRY SAMI

RAT THAT DOG

LEGGONY

LEAGLE

MATICKS