1929-12-12 — Page 14

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THE HONGKONG TELEGRAPH. · THURSDAY, DECEMBER 12, 1929.

ATTACKS ON THE R.M.S.P.

SOUND POSITION PROVED BY AUDITORS.

OPTIONAL CLAUSE DECISION.

BRITISH MEMORANDUM DEALS WITH REASONS.

SINGAPORE BASE SUSPENSION.

MANY QUESTIONS IN THE HOUSE OF COMMONS.

DIVIDEND SUSPENSION. PEACE PACT SEQUEL. AIR ARM UNAFFECTED.

London, Dec. 11.

London, Dec. 11. .. The Directors of the Royal Mail: A White Paper käs been issued Steam Packet Company, have de-setting forth the considerations cided not to pay. the usual half-which led the British Government yearly dividends on preference to sign the Optional Clause of the stocks, or the interim dividend on Statute of the Permanent Court of the ordinary stock.

International Justice, and dealing | with the fears expressed in some quarters as to the consequences of | that signature.

The Board's notification adds that Lord Kylsant, the chairman, informed the Directors that the attacks made upon the Company: and the publicity they had received, had resulted in a heavy fall in the market value of the shares and do bentures.

London, Dec. 11. Several questions relating to the Singapore Base were asked in the House of Commons to-day.

Answering questions, Mr. A. V. Alexander, "First Lord of the Admiralty, said the now floating: dock at the Singapore Base had already been utilised, and it was, not proposed to move it to some In a closely reasoned Memoran- other port during the period dum, the Government maintains covered by the decision to slow that as regards disputes of a down work. justiciable character the algnature Mr. Alexander added that the of the Optional Clause in a logical The Company's auditors, the well-sequence of the acceptance of the decision to suspend work on the known firm of Messrs. Price, Pact of Peace, since legal re: Base did not involve any transfer, disbandment in so Waterhouse and Company, who nunciation of war to be made effec-discharge or were; instructed to examine the Live should be accompanied by position, now reported that the definite acts providing machinery profits of the group in 1928, after for peaceful settlement of dis- the payment of debenture and other putes. interest, exceeded £3,400,000.

The results of the working of 1929 were expected to be very similar.

Reference was made in the audi- tors' report to the ample provision "In respect of depreciation and also to the reserves, which exceed $7,000,000.

The Trade Facilities Loan of £2,550,000 to the R.S.M.P. meat transports, which the R.M.S.P, guaranteed, had to be repaid in the autumn of 1930, and as the public attacks at present rendered a new issue impracticable, an application had been made for an extension of the period of repayment.

A suspension of dividends and, meanwhile, been decided in order to conserve the Company's cash re-

yources.

There has recently been a severe fall in R.MS.P. stocks owing to the attacka launched by Lord Kylsant's bruther-Reuter.

CANTONESE CLAIM VICTORY.

..

·Proof of Sincerity.

By signing the Optional Clause, the British Government hoped both to give the world proof of their conndence in the Peace. Pact, s an earnest of their desire to secure ponceful settlement of justiciable disputes in which they might become involved, and also to do what lay in their power to stimu- Jate other nations to do the same, The Memorandum refers to the discussions regarding the Optional Classe which took place between the different Governments in the British Empire which concluded at Geneva when Great. Britain, the. Dominions and India decided to sign the clause.

far as the personnel directly controlled by the Admiralty was concerned. No notice of the Bus- pension had been given to contractors, but the Admiralty was communicating with them with regard to the slowing down..

the

The decision to suspend work on the Base, sald Mr. Alexander, did not involve the closing down of anti-malaria measures in the neighbourhood" of the Buse.

Mr. T. Shaw, Minister for War, in replying tu questions, stated that the War Office had followed the Government's policy of slow-i ing down änd suspending work on the Base. No now orders had been given, and work had been retarded or suspended "where

possible.

Questions were also addressed to Mr. F. Montague, Parliamen- In conclusion, the Memoramiam tary Under-Secretary to the Air Ministry. Answering these, Mr. says the question which is some

for times asked us to the safety of Montague stated that

the trusting British interests to the £270,000 had been spent on Permanent Court, should really be Air Base at Singapore. He added transposed into question as to that £300,000 for the completion the wisdom of leaving British in of the facilities was being provid terests without any safeguarded, and this would serve not only local defence, but for the except war, which Britain had for undertaken not to wage,

nuntenance of British air com- The British Government main-munications in the Far East and Iain that the whole source of Inter- for shore trade and the repair and national development for many equipment of air unta allocated ¡Continued from Page: 1.)"

years has been in the direction of

to the unval forces, in these the substitution of arbitration for

waters. anniversary, but up to the moment war, and they rejoice in the exist The strength of the Air Forces no incidents have been reported. ence of an International Court of to be normally maintained at A rather curious incident is the unchallenged competence and im Singapore, as at present contem- tearing down by the Municipal partiality to which disputes at any Poller of all the anti-Chang Fat-rate of a justiciable character can plated, said Mr. Montague, would be one squadron of land machines kwei and anti-Ironside

Such reform they posters he referred. which have been pasted up. in regard as an essential part of the and one squadron of flying-bonts, various parts of the city for the effect to implement the under excluding any fleet of the air arm past month or so.

takings of the Peace Pact and to units" which might occasionally use the early years of peace in be disembarked there. He added creating effective safeguards that no change had been made as against war before its realities a result of the decision to suspend have been forgotten.-British Wire-work, on the Naval Base.—Renter.

Commons. Report.

London, Dec. 11. Answering

question in the House of Commons, Mr. Henders son said he had no news of any recent fighting in the Canton area but on the 8th December, the National Government troops, wha had been occupying A defence line some 30 miles from the city, were reported to be falling back.

Canton was reported quiet on that date with no signs of local disruption.

智

EGYPTIAN POLICY DEBATED.

Continued from Page 14

FAMOUS OLYMPIC RUNNER.

DR. OTTO PELTZER IN HONGKONG.

Dr. Otto Peltzer, the famous Olymple runner, was amongst the passengers who arrived here by the Empress of Asta to-day, in the course of a trip from Japan.

vision was made for the removal There are five warships on the of the occupation of British troops West River Patrol, three of which at Cairo-of course, at the same are at Canton, the remainder time making alternative occupation being disposed of in accordance which gave added security for all

Whilst in Shanghai, Dr. Peltzer with the situation. Arrangements the interests involved-no further

turned out at the Pioneer Field have been made to provide military progress could be inade.

Dealing with the doubts ex- and explained certain points on reinforcements should the situa- tion necessitate auch action.-pressed as to the effect regarding running to a number of Chinese Egypt, of the signing of the Option-athletes. Later, he jogged around British Wireless,

al Clause, Lord Parmoor said the the track alongside of a sprinter draft treaty could not be signed by from the U.S. marines, giving him Egypt until she had become a mem- a few pointers In the art of run- ber of the League of Nations, and if and when she became a member, the texts and reservations of the treaty would have to be considered.

Canton Claims,

Egypt.

The Canton News Agency issues a rather remarkable report of the récent fighting us follows:-

The latest report of the fighting in the North River sector is that

Lord Lloyd Criticised. the enemy was badly defeated

The views adhered to by the Gov- yesterday (10th) when he rushed his troops to attack the Cantonest ernment were those which, starting llnes at Pab-li, where they came Commission, aimed at effecting

from the report by Lord Milner's across nine land mines which ex- settlement between Britain and ploded, inflicting enormous casual- ties in their ranks.

The substance of the Milner Re- Before the enemy could recover, they were subject to enfilading port had been adhered to.

He did not believe it possible to fire from machine guns, which follow the policy that, Lord Lloyd added to the number of the had suggested. casualities, which

Earl Grey (Liberal), said the to number 6,000.

polley Lord Lloyd was advancing The Ironsides also advanced, to was entirely inconsistent with the the attack against the Cantonese Declaration of 1922. It was a most at Yau. Lu, Liang Lung, He, Kam unwise and impracticable policy to Hu, and Chiang San He. Four go back to anything like the Cromer regiments of the Ironsides were Regime in Egypt.-British Wire- severely cut up, and it is known | Icsó. « that the regiment under Gen. Ng Kelwel was wiped out.

ure estimated

War:

Over, 3,000 rifles and innumer- able machine guns and materials were captured, while over 2,000 prisoners were taken. The Ironside, remnants are now being hotly pursued by the troops under Generals Chiang Kang-nel, and others.

CHINA LIGHTS.

FINAL DIVIDEND OF NINE PER CENT,

"

?

ning.

We understand that Dr. Peltzer is proceeding to Manila by the Empress boat this evening.

Endeavours were being made this morning to get Dr. Peltzer to give an exhibition run on the Club de Recreio ground this afternoon, but owing to the early departure of his boat, this could not be arranged..

THE DOMINION HIGH COMMISSIONERS.

QUESTION OF FUTURE STATUS.

'London, Dec. 11. The Under-Secretary for the Dominions, Mr. W. Lunn, was naked in the House of Commons to day, whether any change in the status of the Dominion High Com- missioners in London was propos- ed.

Replying, Mr. Lunn assumed that the question related to the functions to be performed by the High Commissioners in relation to the Government here: This was, he said, a matter for each of the Dominion Governments concerned.

The Board of Directors of The China Light and Power Co, (1918); According to the opinion of Ltd., have resolved to recommend those informed on the military at the annual meeting of the Com situation, yesterday's engagement pany, to be held on 21st December, has broken the back of the enemy final dividend of nine per cent. His Majesty Government In the offensive, and 2 collapse is pre-in respect of the financial year United Kingdom were most willing dicted to the near at hand....

ended 30th September, 1925, mak- to accord to the High Commis ing a total dividend for the year,sioners in this respect whatever including the interim dividend of position their Governments might Donations received by the com-5% declared last March, of four desire that they should occupy. mittee of the St. Vincent de Paul teen per cent.

-British Wireless. Society included the following: A final dividend of 9% will ro- Club Lusitano $100 Anonymous present a return of 46 canta per $100 Mína. Sybil Joseph $50;

cluding the amount brought for cents: por share, on the 1920-Issue The Colonial Electric Co. 26 and share on the "old" ahare and 10.73 dend of 9%, the surplus profits, in Imperial Chemical

ahares allotted on 6th July, 1929, ward from last year, will amount

After payment of a final divieto about $100,000,

(China) Ltd., various articles.

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