1925-10-22 — Page 1

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The

Hongkong Telegraph.

Packard

Prosent prices of the SINGLE-SIX 7-passenger PACKARD MOTOR CAR- RIAGES are as follows:

Sedan ind

Fr

G. $2,785

Touring... ... G $2,785 Sedan-Limousinę. G, $2,885 Demonstration, descriptiva literaturo and complote information on request.

THE DRAGON MOTOR CAR CO., LTD.

33 WOND NRI CHUNG ADU HAPPY VALLEY

THE BUDGET DEBATE.

FOUNDED 1082

'No.' -$3,85

四拜禮 號二十二月十英港香:THURSDAY, OCTOBER 22, 1925. BAL

BING LE; COPY 15 CENTS

ESPER ANNUM

THE SHARE ENQUIRY.

EXCHANGES AND

PICKETS KILLED.

NEW

THREAT.

BALKAN WAR CLOUDS.

RECENT BATTLE WITH PEASANTS.

YUNNANESE AGAINST

"

ARKET|

METHODS CRITICISED.

VOLUNTARY REVISION FAVOURED.

The report, which is n

memoranda was

stated above.

none

·CANTON,

SUDDEN CHANGE.

FORTY-EIGHT HOUR ULTIMATUM BY GREECE,

TWO MILLION FRANC INDEMNITY.

Athens, Oct. 21,

The Greek Government has sent

VIEWS OF THE UNOFFICIAL

́COUNCIL

MEMBERS.

FAITH IN COLONY'S FUTURE.

It is reported by a private tele- gram received in Hongkong this

an ullimatum to Bulgaria in con- morning that Chu Pui-tek has aud-nection, with the frontier incident denly changed his attitude and his giving a time-limit of 48 hours, and

This afternoon, Unofficial Members of the Legislative Counoil advancing demanding an indemnity of two expressed their viewa on the Government's Budget proposals, the occasion being the second reading of the Bill to apply a sum of Yunnanese forces are on Canton from Ching Yuen and million "French frances, an expre-818,767,777 to the public service for 1926. Specches were delivered the Hon. Mr. H. W. Bird. The criticisms of the Budget word not Yuen Tam. The telegram further sion of regret and the punishment by the Hon. Mr. P. H. Holyoak, the Hon. Mr. Chow, Shou-son and

Corps is rushing of these responsible-Reuter. says the Cadet

numerous, and all speakers' expressed their unbounded faith in the back from the front, and that

future of the Colony. General Chang Kai-shek returned to Canton in the forenoon of the 21st inst..

GREEK SOLDIER BLAMED.

Sofia, Oct. 21.

A semi-official atatement with egard to, the incident at Belles declares that a Greek soldier fired on a Bulgarian sentry, who killed his assailant, and that a fusillade followed-Reuter.

Athens, Oct. 21.

or

ду

OVER THIRTY WOUNDED,"

There have lately been many reports from the interior of open collision of the country people with the strike pickets on account of their high-handed actions and

but

of them That the local Stock Exchanges have not been properly managed extortions, and administered and that the share market has been carrying on appears to be so serious as the its business for some time past on a thoroughly unsound basis is story of a very serious conflict the main theme of the report of the Commission of Enquiry appoint-between the peasants and the ed by H. E. the Governor in August to enquire into the arrangements pickets at Taiping Market, with the existing in Hongkong for dealing in stocks and shares, result, it is said, that four pickets which was laid on the table at this afternoon's meeting of the were filled and 37 wounded, whilst Legislative Council. The suggested remedy is not by legislation the peasants had no casualties,

The report states that a fishing

MR. HOLYOAK'S SPEECH. rendered by a very large section of but by the reorganisation of the Exchanges liy members and by the strict anforcement of revised rules.

junk containing a full load of salt

The Hon. Mr. Holyoak said: the entire community, Chinese and fish came alongsile the Taiping

Your Excellency,It will perhaps foreign alike, to maintain the lengthy control of Settlement Days; that bridge, and the plekets stationed It will be recalled that two days

be useful in discussing the Draft essential services and normal life of document, states that eight, meet even since the June crisis there there at once seized the junk, say ago it was reported that Chu Pui-

ture for 1926, if, in the first pince, united efforts of all, so normal have Estimates of Revenue and Expendi- the Colony-indeed, thanks to the ings were held and that evidence has been no enquiry by any ing that the cargo came from "a was given by the Hon. Mr. C. Mcl Exchange into the, condnet of its banned area, and demanded a high tek had been appointed Field Mar-

1 deal with Your Excellency's things been kept to the casual oye Messer and Mesars, P. M. N. da members-at. any rate there has price for its release. An alterca-skal on the North River sector, and

speech introducing the Budget that visitors arriving in the Colony Silva, J. T. Bagram, M. Fernandez, been no public intimation of any tion between the junkmen and the

before discussing in detall such have failed to realise, at first, that' military operations had actunily' S. W. Ho, Soo Pei-sha, W. J. expulsion, suspension or censure; pickets followed, and, as its inter-

points as appear to us to call for there was anything abnormal. Nor Carroll, J. P. Braga, Lee Hysan, and, in conclusion, the Commission sity grew, the inhabitants, being commenced against the Szechuan The Premier, General Pangalos, further, explanation special would I pass from this subject M. A. Razack and J. Gould, whilst questions the advisability of keep-mostly members of the Peasants forces. It is further stated that states that the Greek troops are reference. To commence with, we without a sincere and cordial.

submitted by ing the Exchanges closed for a long Volunteers, joined in the alteren- the presence of Tang Mow-sang temporarily not entering Bulgaria, should like to congratulate you, Sir, tribute to the magnificent and Messrs. J. P. Braga, F. H. Kew, period and cannot help feeling that tion and then an open armed con

hensive survey of the past year and Fire Brigade and the Police, P. M. N. da Silva, J. T. Bugram and it is unfair to the general body of flict took place, with the results and Liu Foo on the field, who con but are only stationed along the on the extremely able and compre herole services rendered by the

the public. Lee Hysan.

vered to him the purport of the frontier, The initiative for further the present situation, as well as as well The Commission has

by the St. John's

Part 1 of the

On reporting this to the Canton new alliance formed by the pro-measures is left to the command-upon the statesmanlike budgetting Ambulance Brigade "during the report deals cause to believe that the share

Government, a with the history of the three Ex-market has been carrying on its

company of the

sive Budgets, to expect from you. Fong collapse. changes, in which it is stated that business for some time past on a Cadet Corps was despatched to Tai- vinces in the Yangtze valley, hasing officer of the Third Army which we have learned from succes- horrors of the recent Po Hing Whilst sympathising with the dif We regret the necessary post- "seats on the first two Exchanges thoroughly unsound basia and, even ping Market to restore peace, and, had direct bearing on Chu's sudden Corps-Reuter. have become very valuable; the last the financial crisis had not taken at the same time, orders were given change of his attitude.

ficulties of attempting any accurate ponement of the work on the new seat sold on the Hongkong Stock, place on the 22nd June, the time that a thorough investigation of the

forecast for the coming year, it prison on the Kowloon side and Exchange realised a sum of $40,000. was bound to come in any case incident be made.. It is said that

has naturally been a relief to hear hope in the meantime that the no- Besides these Exchanges there is a when a general slump in the market the investigation led to the deten- number of outside brokers, and the would have had very serious consetion of both of the chief and assis-states that since the order to ad- tant in command of the Peasants' vance on Ho Yuen was given on the number of brokers generally is quences.

THE OBVIOUS REMEDY..

Volunteers. greatly increased by the Article

16th instant, the left wing of the to all three Exchanges common

Part 3 of the Report contains the

Canton Army has deployed its line. which allows each member, or in recommendations of the Commis-

in two directions-one fran Sholt the case of a partnership such part- sion, and it is stated that it is

Kung Shun te Koon Yurko nership to employ one authorised difficult to deal with the situation:

another from Tangan ung- clerk who is not a member of the by legislation. Legislation must be Exchange. It will "thus be seen fair and impartial, and there is ng that there may be over 100 persons more reason why it should be aimed connected with the three Ex-at dealings in stocks and shares changes, all authorized to deal in than at dealings in any other com- ahures with members of the public, modity. Speculation takes place in The report then goes on to state many other things besides stocks that during the past few years there and shares, and one can instance has been a large increase in specu- the grent amount of speculation Fengtien, predecessor, the Che lative operations, mainly due to a which takes place here and else. kiany commander now controlling

Another report states that Hol great influx of Chinese money. In where when times are opportune in Shanghai, Gen. Yen Tsung-rang, is

ዑ the Fung is in a critical position. The many cases prices rose beyond the various commodities and also in enforcing restrictions figure which the prosperity of the the currencies of foreign countries, Labour Unions and agitators, for right wing of the Canton Army is the advancing in two directions-one by Company Justified..

The soundness of this view is borne bidding the re-opening of

Sam Dor Chook to Kung Ping and Dealing with the causes of the out by the fact that hong of the Union's Headquarters and assem

in the other by Ping Hol to Moy collapse in June, the Report states world's big stock exchanges are blages. His men have been them to be(a) Dealing by an-governed by fegislation but by structed to shoot to kill immediate Lung. It is said that the Cadet ly whenever these orders are dis- Corps is within five miles of the sound brokers with unsound clients; rates made binding by them upon obeyed.

city of Hoi Fung and the sound of (b) dealing by unsound brokers their members and very rigidly

The situation generally is tranquil, guns can be heard from that direc- with sound clients; (c) over-financ-enforced in order that the reputazi although the Chinese are continu- tion, indicating that a severe ed Hauchowfu, in favour of the citizens residing in Hongkong and necessary and that sufficient work ing by native banks who, we are in- tion of the particular exchange ing their boycott of the judicial in-battle is being fought. As was pre-allied troops. Reuter. formed, were in the habit of ad-

Tay be upheld. The obvious

quiry,

"SHOOT TO KILL.”

SHANGHAPS ANTI-LABOUR

GENERAL.

(Our Own Carrespondent.)

Shanghal, Oct. 22. Even more drastic than his

EAST RİVER SITUATION.

A report from the Fast River YANGTSZE OUTRAGE that "for the present, at any rate, ticeable reduction in crime, and

JAPANESE STEAMËR

FIRED'AT.

Our Own" Correspondentį

Shanghai, Oct. 22.

HSUCHOWFU FALLS.

CHANG. TSO-LIN'S TROOPS WITHDRAW.

"Peking, Oct. 21.

The Mukden forces have evacuat-

China,

the right course la to reduce exen-therefore the strain, upon, the sce diture rather than to Increase commodation of our present pri

to be experi- insome" and that therefore you do son, will continue not think it necessary to provide enced. In this connection there.. for additional direct taxation for can be little doubt that the recent the present. We were glad to hear house-to-house visitations of the from your Excellency that the police and military have, had

wholesome moon. Ching Gwor, to Ling Lin. The Japanese Consulate has Colony's revenue is already show-most salutary and The Canton forces under Lo, Yik-beon apprised that Chekiang ing signs of improvement. We effect, and we suggest that these "kun, previously stationed near Ho soldiors crossing the Yangtze, most fully, endorse your Excel- might be, with advantage, still Yuen, have retired, to take up on the way to Nanking, without lency's statement that "you cannot carried on," from time to time. position at Hai Lung, so as to be provocation fired on the Japanese believe that the intelligent people It is welcome news that the new In touch with the main forces steamer Dah Ting, bound from of Kwangtung- race which has Kowloon Hospital is to be opened" operating in that region. It is Hankow for Shanghai, wounding been famous for centuries for com- at last, and that the equally de mercial ability and practical sense layed Saiyingpun School is within

can be content much longer to sight of being opened. said that the order to attack II a Chinese passenger.

put up with the oppression of a · STAFF, REDUCTIONS. Yuen was issued on the 18th inst.

regime imposed from outside and With regard to the postponement supported by mercenaries from of some portion of the public other, provinces," and we, too, works which it was intended to: believe that the traditional sound carry on, and more especially road“ common sense of the people of improvements and developments Kwangtung, as well as the old-time whilst fully appreciating the wis- deeply sincere friendship between dom of "going slow" for the time the Cantonese officials and people being, it is our opinion that top and the British Government and its drastic cuts are not advisable or China must before long reassert should anyhow be continued to themselves, and conditions become justify the carrying on of your viously reported. the Allied forces valicing up to 80% or 90% of the remedy then for the present state.

"DEAR BROTHER"

once more normal for them and us present staffs, unless there are were concentrating at that point

It is perhaps fitting at this stage elcar indications of Depart market value of the shares. Even of affairs in Hongkong is the re-

with the intent to capture Cheung,

Peking, Oct. 21. 100% has been mentioned; the organization of the Exchanges by

to express the fervent hope that the ments being seriously over-staffed. Yang Yu-ting arrived at Tientsin Conferences about to commence in Whilst upon this subject, I may add general apprehension felt by the their members by amending and brokers should disclose the fact Mook Tau. It is most likely that themselves, a decisive battle will be fought Chinese community as to the pry arkling to their rules and, above all, when operating for

for Mukden at noon. bable effect of the threatened strike lay enforcing strictly those rules that the internal managemen; of here, as a decision by other side early this morning and left again Peking will materially assist in that we are in agreement with the reinstating normal relations with principle of stuff reductions where Mukden circles in Peking state

possible, but not at the expense of and a boycott on the prosperity of when they are made. If the mem-the Exchanges be revised. and mean an attainment of its objective. Hongkong.

Turning new to the details of sending Home qualified staff off- bers of the Exchanges will not do several other measures affecting On the part of the Allied forces, that Feng Yu-hslang, has wired to this it would be possible by legisla. marging and deposits. In report they would be in a paltion to cut Chang Tso-lin calling hini Dear the Budget, we note for the first cers, who, within 12 months, might PRESENT POSITION. Pari 2 of the Report sums.up the tion to Enact rules which would Eeling on the number of Exchanges the rear of the right wing of the brother" and saying he hopes 101 time that alf junior clerks now have to be indented for again, and present situation, and the Commis- binding on every association of and the licensing of sharebrokers, Canton" Army; and, on the other sion records that they are "of the sanre-brokers whether incorporated the Commission states: "Opinion hand, the road to Swa:ow would be put is now at Paotouchen, come under the definite heading of we are sufficiently, optimistic of opinion that the various Exchanges or not. Legislation which forces among us is divided as to whether made clear, as it is not likely that and when his arrangements there Junior Clerical Service." Whilst the future of this Colony to be parties, it is desirable or not to have more Fukien will come in with further are completed he will go on west appreciating the explanation that lieve that you are justified in taking

wards. The wire declares that'

this has been done for the sake of a risk in this connection. We terms upon have hot been properly managed certain

Chang Tso-lin may use Feng's

economy in time and labour, we are should like to be assured that the and administered." Criticisms are!

whether they wish to have them or than one Exchange in Hongkong assistance for the Allies in view of

much for dealings in stocks and shares, the serious developments in the troops which are in Peking if he so not fully satisfied that it is not water schemes in view will be not, is not uncommon. then offered, which, being sun-2

preferable to debit these salaries to pressed forward, and especially marised, complain that the Com-legislation should however only be and, as things are, the difficulties Yangtze Valley.

the various departments concerned, that the mechanical filtera" at mittees of the various Exchanges a last resort, aa rules adopted and in the way of amalgamating the

that we may arrive at a definite Bowen Road will not be dropped are too large, making disciplinary adhered to by an Exchange itself existing, Exchanges, are so great Union has sent in a pelition saying that we cannot recommend any that the whole of the Picket Corps

knowledge of the cost of running but installed at the earlicet possible measures difficult; that action have far greater elasticity."

change. Legally there is nothing has volunteered for service in the

each department..

moment, in order that we may against defaulting members CAT

to prevent individuals forming Army, requesting the Government's

THE TRADE RETURNS.

have the benefit of proved ex- only be taken on receipt of a com- In conclusion the Commission Associations or Limited Companies acceptance and instructions as re-

We note that a substantial saving, perience similar to that already plaint which is rarely, if ever, forth advises the revision of the Articles for the purpose of dealing in any gards the assignment of their

estimated at $44,000, is to be made gained in the Taikoo Sugar, Re- coming and that members can thus of Association of the Exchanges commodity and it does not seem duties. It is all that the Canton'

by the abandonment of the finery, and we shall be glad tu trade although insolvent; that there and remarks. that "ench Exchange reasonable to attempt to restrict Government has accepted the pre-

"The Bobbles" the famous Phi- "Statistical Department" of the know whether they have been or appears to be no objection to a might with advantage study the them from doing so for the pur-ferred services, and ordered the broker being insolvent and that Ralen of the London Stock Ex- pose of dealing in stocka and Corps to be in readiness pending iadelphian girls' baseball team is Imports & Exports Office, and dered, and, if so, what system has there, has been no recent case of a change. A large number of these shares. For the same reason it instructions from the Commander-coming to Hongkong shortly in the have been asked to make representa-been adopted. *

course of a tour of the East and tions that this would be a vers member of the Exchanges being are not applicable to local condi-seems to be anneccesary to-require] in-Chief at the front.

subject to

arrangements being retrogressive stop und that it should, We have noted both from the expelled, suspended or even cen- tions, but there are others which share brokers to be licensed. If, sured for failing to meet his ob-corninly should be adopted here however, the Exchanges do not It is reported from Pak-Loi that made with the Hongkong Football be avoided if at all possible. estimates and from your own ligations, whilst the promissory nete bearing in mind that they not only proceed to adopt the recommenda- the Headquarters of Tang Poon-Club for the use of the ground be- Personally speaking, I cannot speech, Sir, that no provision has system has undermined the stabl- ensure that all dealings with or tions made in this report or, having van has been removed from On-Poo tween November 1st and 5th, will imagine why this particular Depart been made in connection with re- lity of the markets; that broker between members shall be free adopted them, do not take men-to Kao Chow, and that Tang him play a series of games with teams ment has proved so expensive to provisioning the Military Establish have done business with clients from fraud or dishonesty but also sures to enforce them, we con- self will, in a few days, proceed of men selected from the six clubs run hitherto, and possibly upon rements, and that you have reluctant considering the matter, it may be ly been obliged to notify the without caring about their financial provide a very valuable protection sider that, the Government might to the new Headquarters to take the here.

The "Bobbies" are touring the found that it can still be carried Secretary of State for the Colonies stability and that there has been to the public"

proceed to enact legislation. ... feld. It is said that it was for

that we cannot take any further dealing with persons who obviously The Commission also urges Such legislation should give the that reason that the Canton Govern-Orient with fifteen in their line on though at a far lower cost. -

We most cordially endorse your stepa in the matter. We presume could not pay if they lost; that the &trict enforcement of Court power to dissolve any Asacment ordered the four gunboats, as up under the management of Mr.

high appreciation of the zealous from this that the "Oakier Award". there is no disclosure when brokers Rules when revised, very careful ciation of the kind referred to it, previously reported, to Kongmoon Eddie Ainsworth.

The girls hit home runs and services of the Police Force during was not definitely accepted by the deal as principals on their own scrutiny of the past integrity of on the application of the Attorney to strengthen that pert's defence, account and that there is thus every any candidate applying for mera- General, the Court is satified that and also ordered Chan Ming-shu steal bases just like the men do, the trying period through which we War Office and that there is there facility and inducement to the berehip, the approval by the Com- the rules have been persistently to inspect the defence lines, so as and they have been playing to have passed and would associate fore no obligation upon the Colony, broker to speculate to a greater mittees of all authorised clerks, disregarded." MASI to make all possible preparations gether for the past three years, with them, both the Police Reserve Certainly In view of the tremen extent than he can afford; that that broking should be kept dis- In conclusion, thanks are ex- to cope with the new development have a fine record and attract and the Volunteers, not forgetting dous fall in the land values.

large crowds wherever they play, the wonderful voluntary servicn (Continued on Pane 7.)- there are no proper rules for the tinct from Jobbing and

ADVICE TO EXCHANGES,

It is reported that, the Strike

SOUTHERN SECTOR.

that pressed to all those who assisted.

In the southern sector.

desires.--Renter.

"BOBBIES" COMING.

GIRLS' BASEBALL TEAM TO PLAY HERE.

MILITARY LANDH.