1921-11-04 — Page 2

NOTICE.

EAST POINT GARAGE.

FWO STREET.

LÖN TRAMWAY ROUTE TO CAUSEWAY BAY)

The Management beg to inform the Public that the above new and commodious Garaga is now open for their inspection. Cars may be garaged in soparate look-up stalls $15.00 per month.

Repairs of all kinds executed at ressonable rates with satisfacti on guaranteed.

Telephone Na, 3122

E.

HING & CO.

SHIPBLI NIO MATERIALS, SHIPCHANDLERS AND

HARDWARE MERCHANTS.

PHONE NO. 1110.

BLISHED ANSIALLY.

THE

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DIRECTORY

with Provagal & Farets Sechask Takim kraje te street with

MANUFACTUREES & DEALERS

1. The Prat was eni 19 al fratremist vakratuak kongebob.2

2.

D'

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1,500 trake pedazy, partu EXPORT MERCHANTS

wik Jesus partiellare of the Eloodu aħipped thebat mat Foreign Markete vappired

STEAMSHIP LINES

pushed the Papa's which they sai

kethekppropriate Maili

en BiKINESA U SRI F Emmering

DEALERS SEEKING AGENCIES

Larger Later: segaraze fi

THE LONDON DIRECTORY CO., LTD.,

- LA, k

METALS

of all kinds, especially for ship- building and engineering works. Rest terms. Complete

Immediate delivery.

SNCON & CO.,

Established A. D.

1880.)

25, WING WOO ST.

CENTRAL

W. S. BAILEY & CO., LTD.

ENGINEERS & SHIP- BUILDERS, HOE UN

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HARBOUR REPAIRS Call Flag*L*

Sale Agents for KELVIN MOTORS.” Motors from 12 B.H.P. to 50 B.H.P. now in stock siso spare parts.

Works

Manager.

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MASSAGE HALL.

22. FLOWER STREET. MR. T. TAKAYE, MBS. MORITA.

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MEE CHEUNG. HIGH CLASS PHOTOGRAPH.

THE HONGKONG

THE SHANGHAI CONFERENCE.

Important Resolutions.

TELEGRAPH.

FRIDAY, NOVEMBER

· 1921.

EARLIER TELEGRAMS.

(From Our Chen CurrespondentJ

Shanghai, November 3.

SOVIET GOVERNMENT AND RUSSIAN DEBTS.

London, Nov. 3.

The text of the British reply to the Soviet Government note with reference to the debts mentioned earlier declares that, in announcing its intentions regarding foreign debts, the Soviet Government lead to the goal it At today's meeting of the bas started upon the only path which can British Chambers of Commerce professes to desire, namely, economic co-operation with other in China and Hongkong, the nations. But the British Government asks for further information following important resolutions before it can, in conjunction with the other Governments, wherewith were passed

it is associated in connection with the laternatonal Famine Commis- (1) To arculate the Association'ssion, decide its attitude. An explicit statement is asked of the constitution

Soviet Government's intentions regarding obligations other than those mentioned, such as loans to the Tsarist Government since 1914, municipal and railway loans and claims by foreign owners of property in Russia confiscated or destroyed by the Soviet Govern-

(2) In the opinion of this Can tarence, the cit, rest of goods in the basis for lesying ad calorem dury and the Customs tariff should' be rewarded to make this clear:

151 The Conference regrets that the obligations to reform the currency undertaken by the Chinese Govern medt under the British Commer dial Treaty of 1902 and other

mant

GERMAN REPARATION PAYMENTS.

Londen, Nov. 2 Sir Robert Horne has written in reply to Com. Kenworthy's Treaties remain unfulfilled. The Conference regards this long de atatement in the House of Commons. He says that the next payment layed reform as of urgent sad vital due to the Allies from Germany is half a milliard gold marks, due importance both in the interent January, this being the third quarterly instalment of the two of the Chinese people and

milliards due anausily under Article 4 of the schedule of payments. traders doing business with China. He states that the effect of the payment on German exchange will The Cocierence records its convic tion that sound planning plax depend on the form which payment alternatively takes under the successful execution of this great Treaty. Regarding the distribution of payments, he mentions that and complex work throughout after the costs of the Army of Occupation are met from the. pay. ments, Belgium has priority to the cash receipt of two milliards of gold marks. urger

China must be applied in #fective form: and the best available foreign sakistanco and supervision of the operation of the Shanghai Mint, thereby furthering rather than retarding the cause of complete currency reform.

--

AYAHS AND AMAHS.

BENGUET CONSOLIDATED

MINING CO.

Semi-Annual Report June 30th,

1921.

Capital Stock P. 700,000

-GENERAL-

18,904 tons of ore, of an average value of P35.46 par ton, were treated during the six months ending June 30, 1921. The gross value of bullion produced was P586,139 98.

Attached hereto are a balance sheet and, profit and loss state- | ment, showing à net profit for the half year of P263,98415.

The following is brief summary of receipts and expendi-

tures --

Receipts

Bullion ... Exchange

Store operation, interest etc..

Expenditures

Londos, Nov. 2

4. The Conference deprecates Viscountess Chelmsford opened the Ayahs' Home at Hackney, the growing tendency of certain provided by the London City Mission. The Chairman said that since Foreiga Consulates 10 afford the premises were opened in 1902 they had proved a great blessing ing protection to the Chinese to ayahs and amahs who brought children from India and the Far by the process of naturalization or East. The Committee undertook tɔ provide for the ayahs until they other means. I

notorious found 3 family returning to the East. Mr. Le Cheng (Consul- that in the majority of cases the | General for China) and Colonel Darcy Bannerman of the India applicants for naturalization are not Office) spoke appreciatively of the institution.

actuated by any desire to leave China and reside in a foreign State, but take this simple mesas of evading Just obligation. and escaping the jurisdiction of the Chinese Courta to which they are amenable otherwise.

The Shantung Question.

THE DUTCH EAST INDIA BUDGET.

London, Nov. 3. According to an Amsterdam message. the East India Bidget pro-

| This Conference,

vides for a temporary increase of 23 per cent. on all import and wbur disclaiming any intentions of inter-export duties, including the oil export tax; but the latter will shart- ference in the gravely importantly be superseded by a tax based on net profits of the producing political issues regarding the return companies. The Colonial Administration's expenditure for 1922 and revenue, 734,000,000 of Kistebow and Shantung to is estimated at 924,000,000 guilders Chins, desires to place on record its guilders,

firm conviction that any settlement)

of the Shantung question which

10

leaves the Japanese in a privileged will position tha: province constitute & negation of the policy OTHERS take your photos, but of the Upen Door and Equal Op

THE WASHINGTON CONFERENCE.

London, Nov. 3.

The Premier has cancelled his passage on the Aquitania leaving

HING LUNG ST. Phone 515/ by our 30 years experience we portunity in the trade with China to on Saturday, but has not yet abandoned hope of going to Washington

A. TACK & CO,

The Largest Photo-Supplies

in the Colong.

DEVELOPING AND PRINTING UNDERTAKEN.

26. DES VICK ROAD.

CENTRAL

MEE

FONG

HIGH CLASS PHOTOGRAPHER

Old Supreme Court Building

Special Department for Develop- ping Printing for Amateurs and Enlarging & Framing.

CREEN IST AND CEMENT COMPANY, LIMITED.

PORTLAND CEMENT.

In Casks of 375-Ibs, net.

In Bars of 250 lbs. net.

SHEWAN, TOMES & CO.

General Managers. Hongkong.

MARTIN'S

PIOL & STEEL

AL PILLS

¿Frenos Remedy for all Yevygslarītim. Tosands of Ladise always knap a bos of Marita's Pille in the besse, so that on the tres sign of any leregnineity of saw Bytem šimely dow may be ad- libered. Those who use their Fusome mend them, hence their enormous osia. All Chemists and Store, Berikut katu sarrarbons the World, of pest fr68 5/4, MERLIN, Ghem) 16, Bouthampton. Eng.

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Sufferers

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GENERAL NEWS.

HARROW SCHOOL TO RUN A

RESTAURAN

fater.

AN OIL MERGER.

New York, Nov. 3.

& The Conference, while makisz every allowance for Mr. Simpson's unfortunate illness, deplores the continued delay on the part of H.M. Government is placing before the crown lessees at Canton, Hankow Stockholders of the Union Oil Company of Delaware will meet and Tientsin the concrete terms here on 17th November to consider the merger with the Royal Dutch upon which the leases are renew-and Shell Transport Companies, Sabject to possible modification, able. It regrets that another year foreign interests will control 72 per cent of the stock of the new has elapsed without material altera Company, and the Union shareholders the remainder. tion in a situation so injurious to British trade interests and normal development of the Concessions.

(7) This Conference deeply | deplores the continued failure of the Foreign Powers to inaist on the Chinese Government fulfilling the undertaking given by the Wai Chao-pu regarding the ex-! Enemy Concessions at Hankow and Tientsin, and urges H.M. Govern- mect to press for an immediate solution of this question by the reconstitution of these areas 2.5 International Settlements, with municipal government on foreign

lines.

ARMISTICE DAY.

Washington. Nov. 3. Congress has passed a reaclution making Armistice Day a national holiday.

CHINA AND AMERICAN LOAN.

Washington, Nov. 3.

It is authoritatively stated that the American Ambassador at Peking has called China's attention to the failure to pay the principal and half-yearly interest on the loan of 34 million dollars made by American bankers.

AMERICAN MINERS' STRIKE.

IN

The "Exchange" Boom. (8) The Conference views with serious concern the establishment of a large number of produce and stock exchanges in Shanghai. It has reason to believe that the

Indianapolis, Now, 3. majority are not founded to meet the legitimate requirements of

Twenty-five thousand coalminers struck in protest against the Harrovians will waist at a new Foreign and Chinese merchants recent lojunction restraining the united mineworkers from bringing departure in public sebool life. engaged in trade in Shanghai, but the miners of the Williamson Coalfields in West Virginia into the The old "tuck shop baa dis are enterprises of a peculative anion. appeared, and a restaurant has and gambling nature, and as such been substituted. The school are a standing menace to the finan authorities acquired the old Rose cial stability of Shanghai The and Crown Inn in the High-street. Conference urges the Consular and during the holidays converted Body to co-operate with the Chi- it into a first-clase restaurant-nese Government by supporting "drs," of course. It is to be run the Municipal Council in any steps by a joint committee of masters taken for the licensing, registra- and boys, under the managementtion and control of these Ex-

R. A. Gillett, the last of the old changes. "tuck-shop" proprietors.

re-

- (9) The Conference, for the third year in succession, been affirms its conviction of the value the Commercial Diplomatic

THE QUEEN'S ANTIQUARY. Mr. Albert Amor bas

appointed by Royal Warrant of

"Antiquary" to the Queen. He is Service in China, but recognizes

CANADA AND ASIATICS.

Victoria, B.C., Nov, 2. .

The Legislature has passed a resolution requesting the Dominion Government to amend the Immigration Act so as totally to restrict

Asiatic immigration to British Columbia.

COURT OF INTERNATIONAL JUSTICE.

The Hague, Nov. 2-

The permanent Court of International Justice will be inaugura- one of the greatest at borities on that its development to a degree ted at the end of January at the Peace Palace. rare china, of which the Queen is commensurate with British trade

an enthusiastic collector. She is interests depends upon financial

a frequent visitor to Christie's considerations. As an alternative

when famous collection of china to the appointment of additional principal porte, provided their standing the representations of are sent there for dispersal. The Commercial Secretaries or Assis functions are clearly defined ELM. Consular and Diplomatic appointment of an Antiquaryfants, this Conference suggests being primarily commercial and officers, no steps have apparently to the Royal Home is unique, that the requirements which the are separated from the routine been taken to remedy the highly though the late Sir Gay Eating British commercial community has work of the Consulates where they unsatisfactory. condition, sti) obtaining, of telegraphic communi- beld, the office of "King's Armin view would be equally well met are stationed.

(10) The Conference observes cation between Chefso and Shang- ourer" to King Edward, and by a system of appointments of

Commercial Vice-Consuls at the with regret later to the present King.

that, notwith-hai

Labor Supplies...

Taxes School & Hospital Insurance Marketing Billion Mine Miscellaneous Manila Ofics

GROSS PROFIT

Less Development and Exploration. Less Depreciation written off...

P560,457.40

32011.78 5,738.24

P598,217.43

P 98,228.68

84,483,60

15.826.05

4,707.62

2.180.54

3,878.55

10,384.11

19,096.37 P238,785.57

P359,431.85

P 19,681.46

43,933 57 P 63,615,03

Less 21a, bonus to General Mgr Less 11 to Directors

..P295,816.82 P 7,393.42

4,43725 P 11,832,67

P283,984.15

SET PROFIT:

The following capital expenditures were made out of profits for additions to mine, plant equipment, and Level "C" development:

Mill Extension

Standby Plant

Development LevelC

Shait

Drain Tonnel...

P 7,889.07

37.461.16

45,398,58

5,998.83

36.13188 P132,862.52

Capital distributions were made as follows —

March 31,1921, 5 centavos per share P50,000,00 June 30.1921, 5

DEVELOPMENT

P30,000.00

Work on level "C" has been pushed as rapidly as possible and excellent progress has been made since the ore bodies on this level were reached. It is a pleasure to announce that the ore bodies on the hanging and foot walls are higher in value than they were on the upper levels. The hanging wall ore body has been opened up for a total distance of more than eight hundred feet and the end of the pay chute has not been reached in either direction.

Since the ore on Lavel "C" was reached 4,730 tons of = gross value of P174,012.00 have been sect to the mill. This ore was taken “ out in the course of development work only. During June 1,769 tons of an average value of P77.63 per ton were sent to the mill from this level.

ORE RESERVES

The excellent value encountered on Level “C” coupled with the rapid progress made opening up this level makes the estimate of ore contained in our last annual report s'very conservative one.

The item of probable ore" now belongs under the ";

**positive heading while a large portion of the "possible" ore has become probabis ore The large tonnage of “probable ” and “ possible ore from Level "C" down, which is uncovered on top for a tofal= distance of, more than 800 feet on the banging wall vein, WES POT included in the last ore estimste. The same applies to the ore on the foot wall, which is opened up for a distance of 365 feet

No distribution will be made in July for the reason that July is the beginning of the Typhoon season, which is the period of greateri danger to our mining operations. It is believed that our reserves should be built up to the highest point during this part of each year and that it will better protect the company if the distribution is deferred until the end of August.

Respectfully submitted, "

S. McKee, Delmar Smith-Clinton," H. D. Cranston, Henry Uy Cho Yes, A. W. Beam,

Directors.

A. W. Bearo, General Manazor, Manila, PL, O. L. Kettenbach, Míus Superintendent, Baguio, P.L,

NOTE:

After this report was written, the following additional capitat distributions were made

August 31,1921, 5 centavos per share P50,000.00 Sept. -30,1921, 5 centavos per share PS4,000,00

MOXON & TAYLOR AGENTS.