bw
DOLLAR HITS IMPORTS.
RTHER OPINIONS ON THE
SILVER SLUMP.
ED OF STÁBILITY,
rther opinions as to the effect e fall of the dollar to trade in Colony were expressed by the sad of a well-known firm of impor- ers and exporters, in reply to the Telegraph's questionnaire.
The stabilization of the dollar la quoted generally as being the best way of coping with the situation, but this business fan admitted the difficulty of effecting such stablisn
tion.
HATRY'S TRIAL AT OLD BAILEY.
(Continued from Pagh 1.)
THE HONGKONG TELEGRAPH,
loss of $157,909 was made. There were profits of £97,308 on sales of Investments. · The amount of £69,000 was also received from Austin Friars Trust as a profit in connexion with the sale of certain
shares. Dividends on investments amounted to £75,946.
"There is no doubt that grave irregularities have occurred in connexion with the business of the company.
NEW ARTICLES OF
ASSOCIATION.
SANDAKAN LIGHT & POWER CO. MEETING.
APPROVAL GIVEN.
As proceedings are Company, pending I do not propose to say any more on the matter now,"
WEDNESDAY, JANUARY 15, 1930.
ONLY WAY OCEANS' CAN BE SPANNED.
SIR C. BURNEY ON THE ENTITY OF OUR EMPIRE,
Howden, Nov.. 29.
DEBT OF 13 YEARS"
STANDING.
DEFENDANT ALLEGES FULL PAYMENT COMPLETED.
31
"Either the Government must bo prepared to spend £3,000,000 on an PLAINTIFF BELIEVED. nirship development schemo spread
Amoney loan transaction, Shareholders of the Sandakan over not less than five years or Light and Power Co. (1922), Ltd, else they had better leave airships stated by defendant to date back at a meeting held at 12.30 p.m. alone, declared Commander Sir to 1916, resulted in an action in to-day confirmed the resolution re- Charles Dennistoun Burney at a the Summary Court this morning cently pasded approving
new Press luncheon to-day on board the before the Pulsne Judge (Mr. Articles of Association of the new airship R 100-the, biggest Justice Wood). The plaintiff was
atrship in the world,
Chan Wong-shi, No. 69, Wing Lok married fourth floor, "It is no use blinking, the fact Street, Mr. R. G. Shewan presided, and, that we have got to make further woman, who claimed against Leo
Department, for Sir Gilbert Garnsey was ap-after the Secretary had read the pointed liquidator and a committee notice convening the meeting, he technical progress before we shall Hee, watchman of the Harbour of inspection was also appointed. addressed the shareholders as really efficient commercial vehicle, $220.50 as balanco due for money
but that decision must necessarily The company's full liabilities follows:-Gentlemen-The initia).
object for which this meeting hus be left to the Government and to amounted to £3,710,239,
been called is, as indicated in the Parliament," he added.
The future of this country de- notice which the Secretary has just read, for the purpose of pends upon maintaining the poli- receiving a report of the proceed-Lien! and economie entity of our ings at the extraordinary general Empire.
meeting held on the 31st Decem-
achieve our ambition to have
lent..
the 'sum
of
Plaintiff alleged that between March 1, 1916 and February 1. 1917 she advanced sums totalling. 3421.20 to defendant. Up till June 30, 1927 defendant had re- paid $200.70 which left the balance
claimed.
One leading importer, in reply,
At the meeting of contributories abates we bound to have an ad- the shareholder,12 deficiency was
very definitely that the low. verse effect on the Colony's imports, given as £2,077,120.
Ashareholder asked whether because the depreciated value of the dollar meant that purchasing any director present could make a hower was much less, and therefore statement showing how such counts had been audited, such the import trade must suffer.
On the other hand, these disadarge losses were sustained in so
received in three payments. #21 Lord Winchester, expressing vantages would, to a certain extent short a period. Buyers would naturally purchase regret at the result of the com-such meeting. That resolution, as inke a wide view. We are spen-paid interest at the rate of ten Chinese goods when they cost 25%;pany's activities, said: "I am you will remember, concerned the ding £120,000,000 a year on arma- cents per dollar per month and less than other countries' products. afraid things were done behind approval of the draft new Articlesments.
the backs of directors of which of Association of the Company. they were not aware."
be offset by an increase in exports.
The general adverse effect on trade, however, could only be remedied by curtailing the production of silver. There was far too much of this metal being produced, and in course. -of time the mines would have to Riso an close down. There was over-production of copper, the big- geat by-product of which was silver.
A second factor which would help in the improvement of the currency was increased commercial use of silver, whilat, thirdly, the dollar must be stabilised. It does not matter if it is at 2/-, 1/8 or 1/- 80 long as it is stabilised. One of the chief effects of this would be the elimination of fluctuating stock values. All firms which carry big stocks indulge in speculation on With the stabilisation exchange.
there of the currency, however, would be. less risks, smaller profita and more money,
LOCAL ESTATES.
"There is only one method where. her. 1929, and of confirming, if by ocean spacca can be crossed thought fit, as a special resolution speedily. It is through the de- the resolution which was passed as velopment of airships, and when extraordinary resolution at we come to the cost you must
rewards?
Defendant anid that in 1916 he was caterer to the boatmen's mess at the Harbour Office and, lie bor rowed $60 from plaintiff which he
He
now only owed the capital and. four months' interest.
His Lordship:-Do you mean to say you have been paying interest at ten per cent, per month up to four months ago?--Yos.
That is $6 a month 7-Yes.
You have paid $6 a month for 13 years 7-No.
The
Explaining, defendant said ho paid interest at $6 a month for about a year and afterwards paid date of repayment was so long aga off the whole amount, $86. that he could not remember when it was. He continued that he now owed no money. He previously kept books but they were damaged during a typhoon.
R 100's Finances, "You will also remember that at
"Ton considerable degree the the above mentioned meeting I explained shortly to you why your amount spent on armaments should Directors thought it essential to be spent on developing this aerial alter the articles of Association, force," said Sir Charles. There and I do not consider it necessary is more behind an endeavour of LETTERS OF ADMINISTRA- to deal further therewith, except the character of the R 100 than
TION GRANTED,
to add that at the meeting in the mere solving of engineering question the draft new Articles of difficulties."
Sir Charles had little to say Letters of administration to the Association were unanimously ap Estate of
the late Mr. Herbert proved, and the resolution record about the finance of the R 100, and
mastering such approval was unanimous that little sounded pessimistic.
"The firm of Vickers, Ltd., who Arthur Walker, retired
are always prepared to try to lead mariner, late of No. 10, Carnarvonly passed as an extraordinary re-
in the cause of progress in scienti- Bullding, Kowloon, have been solution,
Under the Hongkong Companies he achievement, have borne their granted to the widow, Mra, frene
Asked by his Lordship why Mabel Walker, residing at that Ordinance, however, it is neces share of financial responsibility,"
that the approval of the he said. "What has been their plaintiff had sued him if he owed address. The late Mr. Walkersary
Articles of Association
no money, defendant explained died intestate at the French Hos-new
"This ship has cost £440,000, that in April, 1925, plaintiff's son pital on December 9, 1929, leaving shall be signified by a special re-
on his Hongkong estate to the value of solution, and consequently this and the Air Ministry are paying asked him for money
He scolded $3,000,
meeting has been convened for the
He Local estate worth $33,100 was purpose of enabling the extraor£300,000. The cupital expenditure mother's account left by Wong Fuk (or Fook) Tin, dinary resolution above referred upon these works has been £150,- plaintiff's son as he (defendant) £50,000. The Airship did not know why plaintiff was As to how this stabilisation might retired restaurant keeper, who to be confirmed as a special resolu-000, of which the Air Ministry are had already paid the money.
Speaking to Mr. A. E. Hall, who be effected, it was, our informant died at No. 153, Tal Nam Street, Lion. And I necording her to paying
conducted plaintiff's
hia contended, almost impossible for Shumshuipo, on or about Septem.propose the confirmation na a Guarantee Company is making a suing him.
Lordship remarked that if the the layman to say, but he was in ber 3, 1929. Probate of the will special resolution of the suid ex-contribution towards aeronautical
"That the regulations contained
Never Again?
woman's necount was correct ahe agreement with the suggestion that has been granted to Wong Wai-traordhary resolution, namely: development of whout £100,000 the Government should appoint kam, merchant, residing at No. in the printed document aubmilled an expert to advise on the pro-12, Connaught Road West, who to the meeting and for the purpose "The engineering trade has had charged interest at ten per executor of identification subscribed by the been undergoing a troublesome cent, per month or thereabouts, blem, although, he pointed out, even was appointed sole
Later his Lordship and it scom- that present great difficulties, as the will. The bequests are of a Chairman thereof be approved and time, and the Government cannot adding "It seems to be monstrous," adopted as the Articles of Associo-expect firms to contribute to aero-ed more probable that ten per tion of the Company in substitu-nautical science to that degree. cent, was added to the loan. instead tion for and to the exclusion of all; "I am authorised by, the chair of interest and there never had existing Articles thereof." I shall man of Mesars. Vickers, Ltd., to been interest. The parties spoke be glad if some shareholder will say that, so far as his firm is con- of it as interest but it was most kindly second that.
cerned, they would hat again probably a bonus on the original of a kind loan which was not so unreason- undertake a contraet similar to that under which this able. ship has been built.
"They are prepared always to
was discovered by the experts who sat for years dealing, with the In- dian currency.
GIRL UNDER 'BUS.
JURY'S COMPLIMENT TO DRIVERS.
family nature,
HOUSEBREAKER WHO ADMITTED GUILT.
SENT TO PRISON FOR
SIX MONTHS.
A charge of breaking and enter; ing the Arst floor of 77, Haiphong London, Nov, 28. - Rad, and stealing a basket con- The fatal accident on Ludgate-taining artiefes of clothing, was hill on Saturday to Miss Edfth.brought against a Chinese before Olga Melanie Ephyrave, aged 21, Mr. Whyte Smith at the. Kowloon of Alleys Park, Dulwich, was the Magistracy this morning. The de subject of an inquest held by Dr. fendant admitted the charge. Waldo at the City Curoner's Court yesterday,
Mr. Frank P. Ephgrave, a com- pany director, said his daughter -met with an accident twelve months ago when skating and die located her knee, but she had since been able to play tennis.
WIN
The resolution was seeunded by Mr. C. A. da Roza and carried un- animously.
ri
HL
CRSC.
Mr. Hall agreed. Giving judgment, his Lordship The Chairman, Mr. R. G. She-
achievement. but books of account and had stated wan, was supported by Mr. M. contribute to the advancement of said plaintiff had produced two Churn and Mr. C. A. da Roza, aeronautics) members of the Consulting Com- cannot afford in these days to con- that a number of entrice were however, that the books were mittee, Mr. Noel Braga (Secre-tribute on the scale which has made by defendant himself, which
A. A. tract."
genuine and not forgeries, and he tary) and Messra. A. L-Shields, been necessary under this con- he had denied. He was antisfied, Botelho, F. J. Tavares and Tse
also believed that entries were Allan Keith, J. Toppin,
made by defendant. Tsan-tai, shareholders.
The R.M.S. "Empress of Russia" arrived at Manila this morning, leaves this afternoon and is due at Hongkong on Friday at 8 n..
"
Sir Charles said R 100 should be described as the Cupid ship, be cause some 20 of the men had married girls engaged on it with then.
LETTER GOLF SOLUTION.
Detective Sergeant. Humphreys mentioned that the defendant was found inside the premises by one of the inmates of the house when he returned at 19 o'clock yesterday morning. The premises were oc- cupied by enolies who, at the time, were all at work. The lock on the front door was broken, while u
It is advertised that the furty. pair of pliers was found, ínunedi-second ordinary general meeting of
shareholders of the Hongkong Land (* "Stanley Harvey; a page, boy,ately outside the house.
The defendant was sentenced to Investment and Agency Co., Ltd. Here is the solution to the anid that he saw the young woman
the six months; hård labour':
will be held at the offices of Messrs. puzzle on another page. near pump off an omnibus
Jardine, Matheson & Co., Ltd., on SHIP. SLIP, SLIT, SLAT, bottom of Ludgate-hill. It
Tuesday, February 11, at 12.30 ɲım. SEAT, SEAS. raining heavily at the time. and the road was slippery: She ran straight across the roud" and safely negotiated two omnibuses and a motor-van. She then slipped and fell on her side. She appear- ed to be unable to rise, and he went to her assistance, but an omnibus came down the hill and he jumped back to avold It. She was knocked down and run over, and it took nearly an hour to liberate her.
The conductor explained that owing to traffic congestion largely due to the accident, it was about half-an-hour before he could get to the Mansion House and back in "taxi-cab to get a jack to lift the amnibus.
41
LD. BIRKENHEAD'S AMAZING SPEECH.
ATTACK ON THE CITY CORPORATION:
"I confess I am astonished that the City of London should gallopi forward to acclaim Mr. MacDonald and Mr. Snowden, and to give them the Freedom of the City."
So said Lord Birkenhead, in a remarkable speech at a Lewisham Conservative meeting recently.
"I wish to speak of it with re-| ticence," he added, "and I would only say this: that from 1914 to 1918 many great and small Eng- Hishmen devoted their mental and physical efforts to the fortunes of this country.
"Dr. Hermon Taylor said that he "found no sign of the girl having been run over. He thought she the head by the was struck on front of the omnibus. She showed lacking in signs of acute appendicitis and it was conceivable that a sudden attack of pain caused her to slip . and fall.
Charles Mariner, the driver of the omnibus, said that the girl seemed to "pilch" after avoiding the motor-van. He applied his brakes Immediately and steered so that the omnibus actually passed over her with the wheels on each side of her.
"Premature Enthusiasm." "The City of London. was never its own contribution. That they should rush forward with premature enthusiasm to honour these statesmen is surpria- Ing."
I
"I think you are wrong," ex- claimed a member of the audience. "I do not care whether you think An - wrong," rejoined Lord Birkenhead. "I neither valua nor wish for your opinion; I am simply alating my own."
He added that from 1914 to 1918, when it was in the balance whether the Empire survived or was amash. The jury returned a verdict of ed, Mr. Snowden contributed a con- Accidental death, and added that stant campaign of defeatism and no blame attached to the driver of Mr. MacDonald "excited the only the omnibus. The foreman re-atrike that has ever taken place in marked that they thought the the mercantile marine, when they L.G.O.C. drivers were "wonderfu refused to convey him to a Soviet fellows."
Conference in Russia."
(1979 NDA SERVICE INC. REG-USDAY. OFT
"This greeting is carried to you on wings of love," "
The claim on the writ was mere-" ly for the balance of account stated in the books and judgment would be given for plaintiff for the amount claimed with coats.
CONVICTS AT BAY.
BERLIN RUNAWAY'S DARING RAID.
Berlin, Nov. 26. The two convicts who made a daylight escape last Thursday from the Buch lunatic asylum, near Berlin, to which they had got themselves transferred by simulat ing insanity, were scarcely free before they had planned a crime, which, led to their arrest yesterday and to the death of the accomplice to whom they owed their liberty.
new
A body of 150 police was vaftily occupled in searching Berlin and. the surrounding country for the missing criminals, with the help of news Came bloodhounds, when yesterday of a daring daylight robbery attempted in. the office of a factory on a Westphalian estate called Wocklum. Three masked men broke into the office 'yester day morning, held up the director and the clerks with their re- volvers, and started to turn ont the contents of the cash boxes.
engaged they' Whilst thus realised that they had been observed from outside the office, and fled with only about £30 into the neighbouring woods, There they were pursued by two game- keepers, who gained upon them. The ariminals turned and fired, but missed. The gamekeepers, replied. One of the criminals was killed, a second severely wounded, and the third surrendered.
The two survivors were identified by the police as the two The dead fugitives from Buch, man, who carried no papers of any kind and whose name his comrades refused to reveal is believed by the police to be identical with the "mason" who entered the lunatic asylum in disguise and succeeded in releasing his friends, w
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