1930-06-09 — Page 2

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THE HONGKONG TELEGRAPH, MONDAY, JUNE 9, 1930.

CHINESE RESENT VIEWS OF JAPANESE

MORE TAXES.

A PROTEST MEETING PLANNED.

NAVAL DELEGATE.

JAPAN IS SATISFIED WITH RESULTS.

Concerning the prospect of the

"The claims of Japan at the Hongkong Government increasing London Naval Conference were

the taxation in connexion with

not literally established: but they proposed increases in the personal have been established in prin omoluments of Government Ser-ciple," declared Mr. Wakatsuki, vants, a letter from the Secretary former Premier of Japan, and of the Chinese General Chamberleader of the Japanese delegation of Commerce, Mr. Chan Heung to the Naval Conference in London pak, was received by us yesterday now returning home from to the affect that the Chamber scene of their late labours. will hold a special miceting on The statement was made to Tuesday afternoon, at 2.30.

a Press representative yes. torday, upon M Wakatsuki's arrival in Hongkong with the 21 other members of his party. They

The assembly of Chinese mer- chants and bankers is expected to protest against increased taxation

the

in the present period of unpreare passing through on the NY.K. cedented trade depression.

Kitana Maru-on their return to In a statement to a representa-Japan. Another member of the tive of the Press. Mr. Chan

party, Admiral Takarabe, had Heung-pak said, that the preceded them back to Tokyo by meeting was convened in con- the quicker Trans-Siberian route. sequence of the receipt of letters

Mr. Wakatsuki, reporting on from many Chinese Arms, the not results of the Conference, business associations and in said: "The Naval Conference, of dividuals complaining about the course, sat for a Five-Power proposed increase in taxation. Agreement, but unfortunately, an there being a general fear that agreement between the five chief Hand-owners would take oopor- Naval Powers could not be tunity to increase rentals, Mem-arrived, at. An agreement be- |bers and the Executive Committee tween the three leading Naval of the Chamber are expected to PowerS concerning auxiliary turn up in force on Tuesday when vessels has been come to: An they will have an opportunity of extension of the Naval Holiday expressing their opinions and concerning battleships has also perhaps, grievances on the already been agreed to. I am satisfied high cost of rents in this Colony with the results attained there." even without an increase in the taxation.

"Have those results fully cover- ed what Japan desired when sho first sat down to the Conference? In other words have Japan's claims been fully met?" our.re- presentative asked.

Objects Attained.

par-

"Runs" on Banks. The principal topic among the Chinese business community during the week-end was, the "runs" on the Industrial and Commercial Bank. Limited, and Mr. Wakatsuki: "The claims the Bank of East Asia, consequent of Japan were not literally on the announcement of the established: but they have been financial failure of two Chinese established in principle, so I native banks. in Queen's Road believe Japan's object in Central. A wrong impression ticipating in the Conference has. gained currency among the been fulfilled. We have not pro- Chinese depositors of the Bank | ceeded along the lines of the of East Asia and the Industrial principle of ratio. which. of and Commercial Bank, Limited to course, we originally claimed at the effect that they had con- the outset of the Conference. nexions with the two failures, But' as I have told you, our and this led to "vans" on the desires have. been met in prin- banks which commenced on ciple. Instead of its being fulfill Saturday.

ed in terms of ratio, we have simply attained our object in un- other form.

Officials of the Bank of East Asia and the Industrial and Com- mercial Bank, Limited, told Press- men who visited their premises on Saturday that they had absolutely no connexion with the two native banks concerned.

Bank on

Reports of a division of views amongst the delegation were denied by Mr. Wakatsuki who said that Admiral Takarabe's hurried return to Japan ahead of the other members of their party was due to pressing matters in the awaiting his attention

"Admiral Ministry of Marine. Takarabe is in an important post stated as Minister of Marine." Mt. Wakatsuki, "and he had to hurry back to business as soon as the Conference was over."

Hongkong's Welcome,

Prominent Banker's View. Owing to the reported run on the Bank of East Asia, Ltd. and the Industrial and Commercial Friday and Saturday last, a press representative had an interview with Mr. S. J. Chen, Manager of the Bank of China and Chairman of the Chinese Bankers' Association, inquiring as to the position of these two banks. Mr. The distinguished leader and Chen said that he had full con- other members of the Naval Dele- fidence in their ability to meet gation have received. a warm the run as their position was welcome from the Japanese com- very sound and strong. The run munity here. Mr. Yoshida, the Act- in his opinion was due to sillying Consul-General, and several rumours that they had been prominent Japanese businessmen, heavily involved through the re-met the delegates on board the cent failure of two Chinese native Kitano Maru after it had tied up Wharf, banks. These were entirely un- alongside the Kowloon founded since they had no yesterday morning. Later in the business connexions with these day the delegates wore entertain- native banks at all. In fact noted to luncheon by the Japanese one of the Chinese Banks is in community at the Nippon Club. volved in the affairs of these twd In the afternoon, they proceeded native banks.

on a tour d'inspection around the Mr. Chen said that the Bank | Island, stopping at the Repulse. of East Asia, Ltd. had been Bay for tea. In the evening, they established 12 years, and has been were guests of honour at a making good profits every year. bannuet in the official residènce He knew for a fact that the Bank of the Japanese Cansul-General of East Asia, Ltd. had made over at 7a Conduit Road:- a million dollars during the last few months.

Mr. Chen further pointed out that the Directors of the Bank of East Asia, Ltd. are all

The party re-embarks on the Kitano Maru before noon to-day, proceeding on their journey back to Japan.

principles and the speaker be- lieved that it could easily tide over the present crisis.

prominent members of the Chinese according to sound banking commercial community in the colony and include men of means, such as the Hon. Sir Shouson Chow, Mesara. Fung Ping-shan. The speaker added that there Li Koon-chun, Wong Yun-tong and was another rumour saying that P. K. Kwok."

the branches of both banks in As to the Industrial and Com-Shanghai sustained heavy losses. mercial Bank, Mr. Chen said that He wired to his Shanghai Office though its capital was less than about this matter, and the reply that of The Bank of East Asia, he received was that the rumour yet its business was carried on was without foundation.

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