1925-05-11 — Page 11

Hongkong Telegraph 港電新報 士蔑新聞 All

THE HONGKONG TELEGRAPH.

MONDAY, MAY 11, 1925.

BANKS.

BANKS.

SHARE QUOTATIONS,

Sharebrokers' Association.

Stock Exchange.

Banks

I.E, & 8. Bank

b. 1225 sa, 1230

£139

(London)

Chartered Bank

Marcantile Banks A & E

Mercantile Banks 0

P. & O. Bank

Bank of E. Asia

Canton

China Underwriters

Union

Marino Insurances.

NorthChina

Yangtze

China Fires

H.K. Fires

Indos (Prof.)

Douglases

H.K. Steamboats

H.H. Tuge.

Indos Def. Lon/Reg.

Indos Def. H.K. Reg.

Sholl

Farrles

ΠΟ

340

$140

276

.46

Fire Insurances.

200

Shipping4

b. 1225

a. 1930

30.

b.

S'hai Explor. New Issue

Docks Wharves, Godowns &c.

Water-bonta

Oriental Navigation

265

Refineries.

63

China Sugari

65

Malabon

Mining.

Bongael Censo!.

677-

Kailan

Langkats Combined

241

3.30

Roubs

54-

Trenchs

Ural Caspians

群。

H.K. Wharves

...

109

K. Docks

1201

Hongkow WharvOS

Д.

200

Shanghai Docks

Now Engineerings

ບໍ່.

9

b.

1304

H.K. Hotels (eum ris.)

b.

167

Do. (New) Prom.

H.K. Deveopmenta

b.

90cia.

H.K. Lands

b. 95.

L.

96

H.K. Realty

4.65

21 A. 3

h

201

150

Cotton Mills.

1.

3.80

67

F.

11.

Miscellaneous.

.

Lands, Hotels & Buildings.

II.K. Territories

Humphraya Estate

Princos Building

Eno Cottons. Orientals Bhanghai Cottons Old Shanghai Cottons Now

Canton Icon

Comenta (cum. rts.)

Do.

**

||

n.

b. 120

1.

$

b. 70cts,

བྷཱ བྷཱབྷཱནཊྛཱཎྜ ཋཱནྟུདྡྷs ê3 a⌘ལ ཆོeཡྻུཾ ཨྠ8e བྷྱཿསྶ ཨཁོ ཛྫུ མདྡྷིąཨཱམཱཏྟཱ རཱདྷཱ8, ཨབྷཱབྷཱུཙྪཱ dageརཱུབྷཱུཀྐཱབྷཱ7 ¢aa© ཋསྐྱུའིསིi

15:30/

a. 75ucts

1. 94. 042185

b.

20

n.

Do.

(New) Prom (Com?)

H

China Buses

China Light

Do.,

Do.

Do.

Old, New (Com.)

Πιο

* 331

10.

China Providenta Old

Now

Constructions

334/332

15.10

261

(p.p.)

b. 81. 80/35

851

10.

B

n.

h

5.

Ola

b.

Now

Old

Now

Dairy Farme

Der A Wing (p.)

Dr.

Electrica H.K. Electrica Macso

Hongkong Ropes Old

H.K. Ropes (Now) Prem. Ropes (Combined)

Hongkong Tramways

Lane Crawfords

Mackintosh

Peak Trams,

Peak Tras

Sincerc

Taxis

Watsone

Wm. Powells

Nanyang Tob

Hongkong May 11, 1925.

SHIPPING NEWS

...4.65

28,80

14.

.

The following' local shipping and mail intelligence has been

corrected to noon to-day:

Vessel

Jason

Agents PS -

Ајах

Tanda

Talamba Tarken Dentar

Hindenburg Pres. Jefferson Pres. Fierce Penang M Taito M.

Vessels Arrived.

MM & Co.

MY M"

Mojokers & Co.

From

Hankok via S'hai

New York via Dalny Melbourne via Manila

Kobo via Amoy Haiphoug

Bremen via Manila-

R. Brockoiman & Co. Hamburg via S'pore

A O Lino

Pacific Mail

NYK.

YKK

Koyoi M.

Tauyama M,

OSK NYK

Manita

Yokohama via Moji Koalung

Kobe via IloBo

Osaka via Moji

Destination

Date.

11th May.

Impending Departures.

(Compiled from our Shipping Advertisements.)

Tokushima M.

Manila Colomba

ATO

Swatow

Vessel

Leesang

Hatching.

Agents

TM & Co.

NY K

Kwaisang

Alipore.

Kwongsang Tango Maru Kmusang Kawachi Maru

Em, of

Takliwa

of. Canada Takenda

Yakohama M.

Hain

Yuenang Sardinia

Kalyan Sicilia

P&O

NYK

NYK

C'P'S Ld.

-Vessel

Em. of Canada

Takada

Kalyan

Kitano M.

Em, of Brasia

BANKS.

THE CHARTERED BANK OF

HONGKONG AND SHANGHAI NEDERLANDSCH INDISCHE HANDELSBANK INDIA, AUSTRALIA & CHINA.

BANKING CORPORATION.

"HEAD OFFICE: HONGKONG,

Authorised Capîini '-

Issued and Fully Paid-up

Reserve Fund

2.4,500,000

$26 600.000

Reserve Liability of Proprietors

Sterling- Bilvör

$50,000,000 $20,000.090

$20,000.000

COURT OF DIRBOTORS: G, M. Young, Esq. Chairman HP. White, Esq. Deputy Chairman

a

B.D.F. Beith, Esq Hon. Mr. A.O. Lang W. H. Boll. Esq. W. L. Fattenden, A.H. Compton, Eat. J.A. Plummer, Esq. Hon Mr.P.H.Holyoak T. G. Woall, Esq." Chief Manager

ן,

A. H. Barlow, Esq. Manager: 6banghai-G. H. Blitt, Esq.

LONDON BANKERS: WESTMINSTER BANK LTD.

Established 1863.

Paid-up Capital and Reserve Food Gids... 76,500,000 £6,375,000 HEAD OFFICE-AMSTEKDAM EASTERN HEAD OFFICE-BATAVIA.

BRANCHES :

50

THE CANTON INSURANCE OF ICE LTD.

NOTICE TO SHAREHOLDERS

THE

THE Forty-fourth Ordinary General Moeting of Share- [Incorporated by Royal Charter 1853.)

holders will be held at the of the undersigned £3,000,000 Offices Paid-up Capital. Reserve Fund

£4,000,000 on THURSDAY, the 14th 1985, at Noon, for Reserve Llability of Proprietors£3,000,000 May

Foreign Exchange and General Banking the purpose of receiving the Report of the, General Agents, busincas tramancled.

Current Accounts opened and Fizod together with a statement ef Deposita received for 1 year or sharter periods at rates which will be quoted on Accounts for the year ended the

31st December 1924. application.

A: H. FERGUSON,

Manager...

Amoy, Ampenan, Bandoeng, Bombay, Calcutta, Cheribor, Gorontalo, Hongkong, Kobe, Makassar. Medan, Menado, Palembang, Pekalongan, Probolinggo, Rotterdam Semarang, Shanghai, Singapore, Soerabaya, Swatow, Tegal, The Hague, Tilasjop, Weltevredeni

LONDON REPRESENTATIVE -F. 8. Wright, 27, Old Broad Street, London, E. C. 2.

CORRESPONDENTS: LONDON-Midland Bank, Ltd., Overseas Branch, Westminster Bank, Ltd., Foreign Jiranch. N. M. Rothschild & Sons and Swiss Bank Corporation.

NEW YORK-Chee National Bank, Farmers Loan & Trust Co., Irving American Oriental Mail Line. 1925, both days inclusive, Bank-Columbia Trust Co...Goldman, Bacha & Co., New York Trust Co.

And in all the principal towns of the world..

EVERY DESCRIPTION OF BANKING & EXCHANGE BUSINESS TRANSACTED. CURRENT ACCOUNTS, DEPOSITS, etc.

CURRENT ACCOUNTS open- od in LOCAL CURRENCY and FIXED DEPOSITS received for THE

one year or shorter periods in Local Currency and Sterling on terms which will be quoted on application.

Hongkong, 21st. Feb., 1924, ?

HONGKONG SAVINGS BANK,

The Business of the above Epak is conducted by the HONGKONG AND SHANGHAI BANKING" CORPORA TION.

Rulan may be obtained on

application.

INTEREST on Deposit is calculated

on the lowest balance during each com pleted Calendar Bonth at 34 per cent per annum. Should there be no balance on month so interest will be

any day, in

allowed for that month.

Depositors may transfer at their option Balance of $100 or more to the HỒNG. KONG AND SHANGHAI BANK to be

places on FIXED DEPOSIT at CUR RENT RATES.

For the Hongkong and Shanghai Bank-

A. H. BARLOW,

Chief Manager,

ing Corporation.

Hongkong, 7th. January 1925.

司公理管業實法中

FRANCAISE DE GERANCE.

SOCIETE

DE LA BANQUE INDUSTRIELLE DE CHINE. ETABLISSEMENT FRANCO CHINOIS.

(Incorporated in Francs).

5, Chater Road, Victoria, Hongkeng.

HEAD OFFICE :

74, Bus St. Lazare, Paris.

Capital Francoi Reserves Franc

BANK OF EAST ASIA,

LIMITED.

HEAD OFFICE-HONGKONG.

Authorised Capital Paid-up Capital' - Reserve I und

DIRECTORS

$10,000,000 5,000,000 1,000,000

Hon. Mr. Chow Shou Sob-Chairman.

Li Koon Chu

P.K. Kwok

Ng Obing Luk Pong Wai Ting

Mok Ching Kong

P. MARKS,. Manager.

INTERNATIONAL BANKING CORPERATION. ·

The Steamship

"PRES. JEFFERSON" having arrived from Manila on 8th. May 1925 consigness' are bereby notified that, their carge le being landed at their risk inte the hazardous and/or exiro' hazardous godowns of the Hong- kong and Kowloon Wharf and Godown Co., at Kowloon, and stored at consignees' risk.

Consignees of Cargo must pro Oapital & Surpivs U.S. $1,000,000 duce an Import Permit signed by

(Owned by the National Oily Bank of New York).

HEAD OFFICE:

wall Street, New York.

LONDON OFFICE: Bishopsgate, E.0.

BRANCHES 1

Panama Peking

Puerto Plato

Bancisco, Cal.

Fung Ping Shan

Wong Yun Tong."

Huyuh Tail

Barahona

Kan Yan Po

Chun Ching Blok

Barcelonu. Batavia

Canton Cebu

San Ban

Colon

Dairon

Bankow

Harbin

Hongkong

Kobe

of Banking and I Bombay Every description Exchange business transacted-Loans Calcut granted on approved securities.

CAFE DEPOSIT BOXES to lot.

KANG TONG PO

Chlef Manager. Hongkong, 16th. February 1825.

NEDERLANDSCHE HANDEL MAATCHAPPIJ. (Netherlands Trading Society), BANK.

1

Francisco de Macoria San Pedro de Macoría Sanches

Santiago de los Caballeros

Domingo

Singapore

Souronbaya

Tientola

! La Vego

Tokio Madrid

Yokoham Manila

Commercial and Travellers Letters of Credit, Bills of Exchange and Cable Current Transfers bought and sold.

Bank accounts accounts and Savings opened and Fixed Deposits in local and foreign currencies taken at rates that may be ascertained on application to the Bank (£12,500,000) We are also able to offer our Customers 80,000,000 the services of Branches of the Nationa (£6,666,670) City Bank of New York in the principul 20,046,032 countries of South America and in the (£1,670,429) Weat Indies."

Established 1824. Hongkong Branch established 1906. Authorized Capital Guilders.150,000,000 Paid-up Capital Ouilders: Reserve Fund Guilders.

Special Reserves Guilders 22,660,000 (£1,888,230)

HEAD OFFICE: AMSTERDAM. Eastern HEAD OFFICE-BATAVIA,

BRANCHES! Bandjermanin Kota-Radja Rotterdam Macanaura Samarang Bandoeng

Shanghai Padang Bingapore Palembang Soerabain Djember Pecalonan Sonrakarta

Tegal (Sale) Djakjekarta Penang Kobe

Pontianak Tilatjap and

Weltevreden Rangoon The Hague

London Bankers-National Provincial Bank, Ltd.

Bombay Medan

$10,000,000.00 Calcutta .....$10,790,000.00 Cheribon

Working fund provided by

THE BANQUE INDUSTRIELLE

DE CHINE

Frenca 50,000,000

BANKERS

FRANCE Societe General Banque and Nationale de Credit, Banque de Paris et des Pays Bas

LONDON-Midland Bank Ltd. NEW YORK-Irving Bank, Columbia; Trust Co.

Every description of Banking and Exchange Business Transacted. Corre-

pondents throughout the world.

· M..M. FITZ-HENRY,

Hlanugor.

#

ORIENTAL COMMERCIAL BANK, LTD.

FLEAD

OFFICE: 60. Des Voeux Road Central Hongkong.

BRANCHES BANGKOK-

SHANGHAL

Correspondents: London: West. minaler Bank, Ltd; New York: National City Bank; San Francisco: Union Trust Co. of San Franciaco; Canton Back. Authoripod Capital Paid Up Capital

..$5 000-000 $1-500,000

Modern banking in all its branchos Current accounts savings accounts and fixed deposits solicited. Leune granted on approved security.

Overseas banking a speciality. INTEREST-Current accounts 2 per cent gavings 4 per cent, Fixed Deposits,

Correspondents all over the world. BANKING BUSINESS OF EVERY DESCRIPTION.

M. J. HERBSCHLEB,

Agent.

THE P. & -0. BANKING CORPORATION, LTD.

(Incorporated in England 1920) With which is affliated THE ALLAHABAD BANK, LTD. INDIA.

£5,000,000

Authorized Capital........ Subscribed and Paid-up£2,694,160 .. 135,000 Reserve Fund......

1

1

HEAD OFFICE: 122, Leadenhall London EC. WEST LONDON BRANCH: 14-16, Cockapur Street, London S.W.I. EASTEEN BRANCHES : Bombay, Calcutta, Karachi, Madras, Colombo, Singapore, Hongkong, Cantor and Shanghai. The Corporation undertako "General Banking and Exchange Businem of overy description and is addition to its Branches hus Agencies in all the principal cities of

the world.

L: E. HOPKINS, Manager..

3 months 4 per coat, 6 months 44 par 22, Des VaragRoad Central. Hongkong. cent, ona year 6 per cent.

Safe Deposit Boxes for Rent.

Our Vaulta safeguarded by time elooks and double combinations.

Armour plate stool doors.

J. Y. LUM.

Manager.

BANQUE DE L'INDO-CHINE

(BRANCH BANK.)

13.

--

"

HEAD OFFICE: "86, Boulevard Hausmann, Paris...

Saillag

12th May.

12th

12th

12th

J M. & 'Oo.

Bombay Shanghai

13th

13th

Yokohama

14th

Shanghai

14th

Kobe

15th

Calcutta

15th

J M & Co.

Vancouver Swatow

15th

15th

P&O NYK

Kabe Vancouver

15.h

THE BANK OF CHINA.

15th

Capital Paid-up Capital

Reserves

Di.Co

Vancouver Swatow Bangkok

15th

16th

P&O

P&O :

Bombay Shanghai Kobo

161

4.

16th

16th

Authorized Capital

Paid-up Capital

BRANCHES, & AGÈNCIES':

Hongkong Bankok Battambang Mongtse Noumea $60,0x0,000.00 Canton $10,278,600.00

T'appola Djibouti

Resorvo Funda.

HEAD OFFICE

Poom-Penh Pondicherry Yunnanfu

BANKERS:

Impending Arrivals.

(Supplied by our Advertisers.)

Agents

CT Bil.d.

P & O

PŁO

NYK

OPSL.

Manila

From

Singapore

Singapore

London

Shanghai

Consignees Diary.

Due Hongkong

12th May

13th

14th

19th

10th

(Compiled from our Advertisements.)

Vessel.

Rosandra

Goods Agents

Stored

D&Co, Kowloon

Examina- tion Date

May 13,

Free. Claims

to be Storage Expires in by

May 23 May 131

Steamers' Movements. Mantna from Hongkong arrived London on the 7th May 10 a.m. Empress of Asix arrived at Yokohama on the 6th May, p.m. left Yokohamis on

the 9th May, p.m. and is due at Vancouver on the 18th May.

Taiya Maru called from Shanghai on the 8th inst. 7 p.m. and will be dus at Hongkong Monday 11th inst, 8's.m. (not 10th as previously advised).

(Specially authorized by Presidential Mandate of the Republic of China on the 22nd of November, 1917.) -

Frs. 72,000,000.00 Fr. 63,400,000.00 Fr. 69,667,283.64

G. HOGG,

Manager.

Queen's Read Central, Hongkong.

THE BANK OF CANTON LTD.

Head Office Hongkong.'

Authorised Capital.......

Paid Up Capital.........

Silver Heserve Fund.....

£1,200,000

£1,081,875

8-700,000

Foreign Exchange & General Banking business transacted.

Intercat allowed on

CURRENT ACCOUNTS.

2% per annum on daily credit boinners of over $100.00:

SAVINGS

4% per annum DEPOSITS

for 12 month 5% per annum

6

11

on Demand

75

30% 2% per annum «

BRANCHES: Canton, Swatow, Shanghai. Hankow, Bangkok, New York and Sati Francisco.

LONDON BANKERS :-The Lloyds Bank Ltd.

LOOK POONG SHAN, Chief Manager.

"THE YOKOHAMA SPECIE

BANK LTD.

Established 1830. Capital (fully paid up)......Y. 100,000,000 Beserve fund..

Y. 80,500,000 HEADOFFICE -YOKOHAMA, Branches and Agencies at

Koho

London Bombay Batavia Baenos Ayres Lyoha Calcutta Los Angeles Boattlo

Changchun

!{Dainy) Dairon

Fangtien

Mukden

Hamburg

• Hankow

Ilonalulu Harbin

Soerzbaya Rangoon San Francisco

Manila Nagasaki

Nagoya

Shangha Bingapore Shimonorck

Tientsin.

Nowchwang Sydney

Canya

New York Tokyo

Peking Teinanta

Rio do

Janeiro

Kai Yuen Saigon

Tringtqu Vladivostock

Interest sllowed on Current Accounts. Deposita received for fixed perioda a

Mt." C. ARIMA, ates to be obtained on application. Manager. Hongkong, March 11th 1925.

THE HO HONG BANK, LTD.

Saigon Shanghai Bingapore Tiontain $9,629,476.24 Haiphong Peking Tavistock (Incorporated in the Straits Settlements.)

Tourane

PEKING.

HONGKONG BRANCHES : 4, Queen's Road Central, Branches and Sub-branches all "over China nud correspondents in Europe, America and other parts of the World.

LONDON DANKERS-The National Provincial and Union Bank of England Ltd.

York,

The Quaranty Trust Company of New NEW YORK BRANCHES-The The Equitable Irving National Banice. Trust Company of New York.

Intorent allowed on Carront Accounts and Fixed Deposits. Terms on applica

tion.

"Every description of Banking business transacted.

Loans granted on approved securities. Bpretul facilities for Home Exchange.

PEI,

anugor.

Hankow Hanoi

CAPITAL:

...$20,000,000

4,000,000

8,000,000

Authorised Capital National Issued In FRANCE:-Comptoir

Credit Paid-up Fario; d'Escompte do

600,000 Lyonnain; Bangus de Paris et des Reserve Funds of share holders 4,000,000

et Reserve Funds ...... Pays-Bay: Crodit Industrial

HEAD OFFICE: SINGAPORE Commercial; Societe General.

Branches Agencies and correspondents the principal cities of the world.

HONGKONG BRANCHES · 13, Quaco's Rond Central..

In LONDON -The National Pro

vincial and Union Bank of England, Ltd Comptoir National d'Escompté de Paris, Credit Lyonnais.

la NEW YORK. P. Morgan & Co. Interest allowed on Current Accotate and Fixed Deposits according to arraigo. meet.

Every description of banking and exchange business transacted,

A. LECOT,

Manager.

in

Every description of Banking, Exchange business transacted.

LOCAL BOARD: Mr. Ko Long Hoo (Chairman) Mr. Bu Palt Ming Mr. Ng Chang Luft.

Manager: Mr. IIan Liang Hungg.

Telephone Nos. 0.4586 and 4607.

the Superintendent of Importi and Exports, Hongkong, before Bills of Lading will be counter signed.

All broken, chafed & damaged cargo is to be lafoin the godowne, where it will be examined at 10 a.m. on 13th. May, 1925, by the Company's Surveyors, Maisre Anderson and Ashe.

All claims must be presented within thirty days of th steamer's

arrival here, after which they cannot be recognised No claims will be recogniso: after the goods bave left "the. godowns, and cargo undelivere on and after 16th. May 1925, will be subject to rent.

No Fire Insurance whatever- will be affected.

J

Consignees are requested to send in their Bills of Lading fo countersignature immediately.

LINE, AMERICAN ORIENTAL MAIL

operated for tho United States Shipping Board Emergency Fleet Corporation

by

ADMIRAL ORIENTAL LINE

4, Des Voeux Road..

|

Tho Share Rogistor and Transfer Books will be closed from the 1st to the 14th May JARDINE MATHESON

& CO., LTD.

General Agente.

THE EAST ASIATIC CO., LTD COPENHAGEN.

The M/S

'AFRIKA ' having arrived, Consignses of cargo are hereby informed that all goods are being landed and placed at their risk into the hazardous and/or extra hazardous Godowns of the Hongkong and Kowloon Wharf & Godown Co.. ba Ltd., where delivery can obtained as soon as the goods are lezided,

No claims will be addmitted after the goods have loft the Godowns and all goods remain ing undelivered after the 18th. of May, 1925, at 4 p.m. will bo subject to rent.

chafod and All Broken, "damaged goods are to be left in: the Godowns, where they will be oxamined by Messrs. Anderson & Aske on the 16th. of May 1925, at 10 a.m.

All claims against the vessel must be presented to the Under- 21st of signed before the May, 1924, or they will not be recognized.

No. Fire Insurance will be effected.

Bills of Lading will be coun ..tersigned by

JOHN MANNERS & CO., LTD.

Agents. Hongkong 10th. May, 1925.

"

EARLIER TELEGRAMS.

OBITUARY.

London, May 9:

The death is announced of the Duke of Rutland,--Reuter The late Duke of Rutland, the "eighth of the line, was Hon. Colonel of the 3rd and 4th Battalions Leicestershire Regiment, 1897, and President of the Leicestershire Territorial Association since 1908. His many, appointments in the County included that of Lord Lieutenant, He was educated at Eton and saw service with the 3rd Battalion of the Leicestershire Regiment, in which he was Captain. He was principal private Secretary to the Marquess of Salisbury, 1885-86 and, 1886-88, and was Conservative M.P. for the Melton The Duke owned Division of Leicestershire from 1888 to 1895. 18,000 acres of mineral land in Leicestershire and Derbyshire.

Wellington, May 10.

The death is reported of William F. Massey, Prime Minister of New Zealand-Reuter.

[The Right Honourable William Fergusson Massey has been Prime Minister of New Zealand since 1912, and was the only War Premier within the Empire, who still held power. He was horn at Limavady, Co. Derry. In March 1856. He went to New Zealand in 1870 to join his parents who had emigrated with the Nonconformist settlers in 1862. There he grew upon the farm, at the same time taking marked interest in local government affairs, and at different times held, office. In 1894 he entered the New Zealand' parliament as member for Waitemata, and had been member' for Franklin since several occasions, among 1896. He represented the Dominion on them the Peace Conference at Paris in 1919 and the Imperial Con- ference of 1921. He was a Grand Officer of the Legion of Honour and of the Order of the Crown of Belgium.]

MISSISSIPPI DISASTER,

Memphis, May 9.

A mysterious disaster, believed to have resulted in the drown- Middle Southern States ing of twenty-five members of the Associations of Engineers, occurred in an isolated section of the" Mississippi only reachable by water, when the Engineering Corps tow boat sank. It is supposed the boiler burst.

"ut

Later. An official statement says twenty one were drowned. The to the towboat, with fifty aboard, returning from an excursion Engineering Convention, suddenly started inexplicably to rock and capsized and sank. There was no explosion and no panic.

The

Passengers in the capsized boat, included women and children, the families of the members of the Engineering Convention. 'disaster occurred at one of the worst stretches of the river, where the current was very swift. The boat had been sting for some time and the rudder refused to work. A negro, passing by on motor boat, picked up the survivors, otherwise the death roll would' have been heavier, Reuter's American Service.

ני

ESSENTIAL CONDITIONS FOR ATTAINING SOCIALISM.

Moscow, May 9. "Pure Inventions." Thus Trotaky stigmatised the statements of foreign newspapers that he favours a bourgeois democracy and freedom of commerce. Trotsky, in a statement on the subject upholds. the Soviet system of dictatorship by the proletariat and monopoly of foreign trade" as essential conditions for attaining Socialism. He adds that the campaign for Socialism ought to be carried on and without abrupt change by methods suited to pensant economy and psychology. "The course of history confirms the essential principles of the proletariat revolution."

L

He concludes that further development in England, concerning which he was preparing a new book was incompatible with economic, and political conditions created by bourgeois and Parliamentary demo- cracy.-Router.

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