1932-10-07 — Page 21

THE HONGKONG TELEGRAPH. FRIDAY, OCTOBER 7, 1932,

SURRENDERS

UTILITY MAGNATE'S SON

SON SURRE

NEW INSULL CRASH SENSATION

ILLINOIS SEEKING ARREST OF AGED CHIEF

AT PRESENT IN FRANCE

New York, Oct. 6.

BUSINESS-CIRCLES have been provided with a

sensation by the announcement from Springfield that the Governor of Illinois has requested Mr. H. L. Stimson, Secretary of State, to ask the French Govern. ment to arrest Mr. Samuel Insull, the aged Anglo- American industrial magnate, head of a chain of utility concerns involved recently in one of the biggest financial crashes of the century, second only, probably, to the Kreuger disaster.

Hamuel Insu)]

BANISHEE BACK

AGAIN

PREPARES FOR COLD WEATHER

Wong Hung, who was expelled from the Colony in May of this term for the possession of a forged year, after serving 11 month's

rested' in Queen's Road by a de-i

A provisional warrant has been issued in Toronto for the arrest of Mr. Martin Insull, and latest informa- banknote, was on Wednesday ar tion (from Barrie, Ontario) is to the effect that he has surrendered to the Ontario Provincial Police.

HISTORY OF TRAGIC DOWNFALL

tective on a charge of returning

from banishment before the stip- alated period had expired.

he

In answer to the charge, pleaded that he had been' carning) An honest living as a hawker of fruits in Canton, but was unable Samuel Insuli, a Londoner who, assets of the companies had sproach of cold weather reminded;

to make ends became

meet. The ap one of the wealthiest shrunk that the liabilities of Insull him that he was lacking in sult- electricity magnates in the United Utility Investments could not botable apparel, and as it occurred Staten, was born In Westminster met. In Nov., 1869. He had to leave

to him that a brother who was in school and become an office hoy In April, a receivership was

Hongkong might be able to render at 14, but devoted all his epare granted for that concern and also Assistance, he came down here. time to study. Becoming dissatis for the Middle West Utilities Co..plew at the Central Police Court, fied when 22 with his prospects, in which had a capital of £50,000,000. to-day, was unable to accept it. England, he went to the U.S. and The difficulties were due to the e recorded a conviction and sen- had the good fortune to obtain the failure of numerous holding comtenced the man to nine months' post of private secretary to Edison, panies on which the Middle West hard labour. the famous inventor.

Co. depended largely for income j to pay dividende.

Edison had just developed his in- candescent electric lamp beyond the

Meanwhile, Insul held many Iaboratory stage and was seeking conferences with bankers in un means to produce it ou д com-effort to save the combine. On mercial scale. Seeing signs of May 4, however, four New York) business ability in his young banks had arranged to sell by accretary, he gave him charge of auction uext day securities pledged the commercial side of the inven- with them by Insult Investments tion and Ingull handled the task and another company of the com-! with remarkable success.

bine as security for JoaNS.

THE CRASH.

Mr. Schofield, who heard the

TREE STRIPPER FINED

WANTED BARK AS MEDICINE

The police yesterday surprised a GREAT EXPANSION.

tree-cutter in the plantation on No. Under Insull's management, there!

Ridge, Pokfulam Road. He was came into existence in the next junction postponing the suction on of trees of the species known as But the courts granted an in-engaged in stripping off the bark few years the Edison Machine the ground that a forced sale at Heptapleurum Works, the Edison Lamp Co., the That time would realise nothing when caught was mutilating

octophyllum Edison General Electrical Co. and approaching real values and cause tenth tree.

and the Electrie Tube Co., as well as irreparable damage to the Insull

bis a number of similar concerns. At companies

Asked what he wanted the bark the same time Insull took up other wherens postponement, might re- strate, Mr. Schofield, to-day that und the creditors, for, the prisoner told the Magi- Interests, becoming chairman of sult in there being a balance over he was suffering from a sore foot the Midland Utilities Co., the the amount of the loans. People's Gas Light and Coke Co.,

and using the bark as a medicine. the Chiengo Civic Opera Co., the f

A fine of $50, or six weeks, was

Heptapleurum octopleylluur is a common to Hongkong. It

The collapse of the Insul con-inflicted. Chicago Rapid Transit Co., and cerns is said to be the biggest, many other companies, until inah in history and hundreds of tree Chicago alone he supervised every millions of dollars have been lost. grows to a height of between 10 public utility concern--gas, electric-Bruter and I. B. S. light, power and street railways with a total capital of £400,000,000.

over

He was a great believer in club life as a means of keeping touch with men of various interests and belonged to several of the chief clubs in the U.S. and England- for from the time when he became prosperous he renewed his asso- ciation with his native land by paying frequent visits.

OLD FRIENDSHIPS,

]

TWO SOLDIERS NOT GUILTY

FINE IMPOSED ON THIRD MAN

Lance

Corporal Coyney and Private Weeks were both dis- charged and Private Hicks

con-

SHARE PRICES

TO-DAY'S QUOTATIONS

The following is the list of local share quotations issued to-day:

nad 16 feet, has compound leaves, and hears white flowers which will be in bloom next month. It was slated in Court that stripping off the bark, as the man charged did, i would kill the tree.

SUGAR MARKET

THE LATEST CABLED QUOTATIONS

The following cable at the close

victed by Mr. Schofield at the of the sugar market yesterday

treath and Co.

By 1929 he had crossed the Central Police Court this morning. has been received by Messrs. Pen- Atlantic over 70 times, often, it is when his Worship gave his deel- said, simply to enjoy the plensure alon in the case of the three men in memory of nid times of a walk who were charged with receiving

- which concluded with a visit to a brouch valued at £ which had

one of his clubs and the renewal of British friendships.

Insul became a member of both the British and American Insti-)

been stolen from Miss Bewley, of 362, The Peak on the night of September 8-9.

His Worship said he thought

- London Terminals. March 1933 6/19% no change. May 1938 6/8 no change. August 1933 6/6 no change. Decembar 1933 6/9% down d.

d-d more. Buyera at above prices, sollers

tutes of Electrical Engineers and Weeks had given a reasonable ex- asking has received degrees from the planation of his possession of the the Unlon College, New York, the broogh, and this was confirmed by North-Western University

Notre Dame University.

RESENTED SPEECH.

and independent evidence.

accordingly discharged.

It was

not so

In 1930, Insull attended the Coyney and Hicka,

He WILS

with

there

New York Terminals. December 1932 1.08 up 2 pts. March 1933 1.01 no change. May 19:33 1.04 no-change. July 1993 1.07 no change. September 1933- Cuban 96-Spot N.Y. 1.18 up

It

3 pta.

World Power Conference in Berlin.. ราง 12 conflict or evidence, Mr. Saekett, the American Ambas- On the whole he was din- sador there, who for years had run; posed ta believe Covney, the electric supply of a large area was clear that when he first got of Kentucky, prepared a speech in the brooch he appeared to have which he stated that the charges had no suspicions about it, and, in to consumers of current

ense, he had no knowledge in any America were 15 times the cost that it was stolen, His suspi- of production. On aceing the clons, he said, developed Inter. draft, Insull protested vigorously I Worship was disposed to be- against auch A revointion Inlove him and therefore found he public. After hours of heated had given a sufficiently reasonable discussion, Mr. Sackett agreed not explanation.

to deliver the speech. American

In respect of Hicks, the original

BRITAIN'S OFFER

REMOVAL OF DUTIES FOR LAND ANNUITIES

Banks,

Hongkong Banks, $1605 b. Hongkong Lon, Iteg, £113 n. Chartered Banks, £14 n.

Merenntito Bank, A. &

£224 n.

B.

Mercantile Bank C., 10% n. Enst Asit $100 a. Am: 0. Finance Corp., $28 n, China O. Fin. Ord., Tls.& n. China O, Fin. Pref. T15460 l

Insurances.

Canton Ins., $1376 n. Union Ina. $605 b. China Underwriters, $2.90 b. China Fire, $620 n. H. K. Fire Ins., $1200 n. Internation Asscc. Tls, 4.05 1. Shipping.

Douglases, $24% n. H.K. Steamboats, $28% n. Indo-Chinas, (Prof.) $45 n. Indo-Chlaus (Def.), $32 n. Shell (Bearor), 51/10% n. Union Waterboats, $20 b.

Mining.

Bengucts, $18 n. Kallans, 27/0 n. Langkats (Single), Tis.4 n. S'hai Explorations, Tla.2.10 n. S'hai Loans, Tis.2.30 n. Rnuba, $40 b..

Venz: Goldfields, $2.90 n. Benguet Exp., 20 cta. b.

Docks, etc. H.K. Wharves, $145 b. II.K. & Docks $20 n.

S. China Motors A., $10 a. S. China Motor B.. SB n. Provdents (old), $4.90 b. Previdents (New), $2.80 n. Hongkews, Tis, 220 n. New Englincerings, Tis, 5% a. Shanghal Docks, Tls. 90 n.

Lands, Hotels, etc. Hotels (old), $12.30 R. Hotels (old), $115. H.K. Lands, $75%1⁄2 6. S'hai Lands, Tls. 25 n. Metropolitan Lands, T. 10 . Humphreys, $10

II.K. Realtics, $10 sa. Asla, Realties "A", $140 n. Asia Realtles "B", $28 n. Chinese Estates, $100 n. China Realtics, Tls. 11.40 n. China Debentures Tla. 96% n. Cottons.

b.

Ewe Cottons, Tls. 14.60 b. S'hal Cottons, Tis. 66% b. Zoony Sings, Tia, 11.50 . Wing On Textiles (S.) 145 n.

Public Utilities- Tramway, $22.10 n. Peak Trams (old), $16.65. 3. Peak Trams (new), $8 n. Star Ferries $91% n. Yaumati Ferries (old), $36 b. Yaumati Ferries (new). $34.25 b China Liglits (old), $18 b. China Lights (new), $17.75 n. H.K. Electrics, $76% b. Marne Electric, $24 n. Sandakan, Lights, $12 n. Telephones (old) $284 n. Telephones (new), $28 n. China Buses, Ts.10 n. Singapore Tracth.ns, 27. a. Singapore Pref. 14 n.

Industrials. Malabon Sugars, $27 Cald: Macy. (Ord.), Tis.14 n. Cald: Macg. (Pref.), Tis.101⁄2 n Canion Ices, $6 n. Cements (Com.), $15 n. Coments (old), $11% n. Cements (new), $3% n. H.K. Ropes, $13% L. Agriculturais, $10% n.

Stores, etc. Dairy Farms, $27.75 b.. Watsona (old), $12.75 n. Watsons (new), $11.80 . Der. A. Wings, $1 n. Sinceres $15.40 b. Lane Crawfords, $5.50 b. Mackintoshs, $21 n. Wm. Powells. $3.35 m. Wing On (H.K.), $240 n.

Miscellaneous, Amusements $17 n. Entertainments, $13% n. S. C. Enterprises, $a n. United Theatres Tis. 6.85 b. Mucas "Greyhounds", $10 n. Construction (old), $5.70 n. Construction (new), $1.45 b. B. Ind. G. Bonds, $66 n. H.K. Govt. Loans, 3% pre, n. Wallace Harpers, $11.75 s: China Sports A

EXCHANGE RATES

Previous Day.

Paris... Geneva Berlin.. Helsingfors.

Oalo.... Athens, Milan Buenos Aires. Shanghal. New York. Amsterdam. Dublin, Oct. 6.

Vienna. press correspondents, however,

The Prine Minister of the Irish Madrid. Prague. had secured conies and published information of the police led them Free State, Mr. Eamon de Valern Bucharest them. Mr. Sackett therefore made to question him first, apparently, revealed to-day that the British Hongkong the speech aa arranged,

and also there was the evidence of Government yesterday offered to Brussels. Covney. His Worship was not move the duties noninst Ireland Stockholm quite antisfied with

If the Free State would hand ever Copenhagen. Hicks'

Tabon The wave of depression which have tried twice to got rid of the ions but he said he was not pre-

vidence. He thought Hicks must to land annuities, sending negotia-Rie swept over American industries in rooch, and there was.

Rambay.. pared to do this. the next two years hit Insull's big vidence of guilty

Mr. de Valera added question of Montevideo

Yokohama.. concerns very hard. In March,gainst him. He must be convict remaining within the Common- Montreal...

knowledre 1932, a Chicago woman took pro-, but his Worship was gone to wealth was not raised and would Belgrade ceedings for the appointment of aive him the antion of receiver on the ground that the Hicks was fined $26.

not bon fnue of theano nagotin Silver fapot) tions-Reuter.

{forward

- AN INJUNCTION,

rome

£ Ano.

080

RADIO BROADCAST

THREE STUDIO RECITALS FOR TO-DAY.

froedt br Z.B.W. on warength of 368 meires. (146 KC4).

5-7 p.m. Chinese Programme. 7-10,30 p... European programmé. 7 p.m. Stock quotations, etc.. 7.5-7.93 p.m.

son. Thang Ycox Tino Co.

Instrumental programme kindly supplied by

Piano Bolo() Moment Musicale in F Mbar (Schubert) (b) Impromptu in B Flat (Bebubert)

Wilhelm Dachau 7120. Violin Solo-Latus Land (Scott). Violin

Bolo-Hungarian Dance No. 17 (Bralima-Kreisler)

Frit Kreisler 07h4, Cello Balo-Serenaja Napoletans (gambat)) Cello Bolo-Intermezzo (Vivaldi).

Pablo Canal 1812. 8 p.m. (Local Time and Weather Report).

7.31-9 p.m.

Varlely programme kindly loaned by The Irunswick House

Sonx-hoot Be Borry? Bon-You Try Somebody Elso

28083.

Connie Bowe}! 0223. Organ alo-Lullaby of the Leaves, Orgen Bolo-My Bilent Kore

Richard Jordon M243. Chorus Musle Hall Favourites

The lotone Chorus with Orchestra Instrumental Trio-Drowsy Waters. finstrumental Trio-Uream lie lay anap Trio Yes! Duet-In Nineteen-Ninety-Two. Vocal Duet-I Laughed so Hard 2 early

Blod

Cole Brothers M12449.

Vlotin Holo-Souvenir. Violin Sola-La Giliana

Orchestra-Mandalin Bluer. Orchestralasian Rag

147.

Hax owen 16211.

4379

Dave Apollon and His All String Orchestra Tiand Solo-Stardust.

Plano Bolo-lock Chair

Lee Sime 6132.

Chorus-Male Hall Favourites

The Melotone Chorus with Orchestra

26077,

9-9.30 p.m. From the Studio. A planoforte recital by Professor

Programme,

Makicio.

1. The Lari (lalakireff)

2. Prelud Email (Rochmanino

3 Preld No. 16 (Chopin)

4. Tarantella (List)

9.30-10 p.m.

A programme of Walites by Johann Stra

A.

kindly loaned by Mrware. Tang Fook lana

Ca.

My Darling Walta

Berlin State Opera Orchestra

9001.

Artists Life

Vienes Philharmonic Orchestra Village Swallows

9226.

Vienna Fallharmonie Orthestra

993.

fteminiscencres of Vienna

Ean Orchestra

04.

10-10.30 p.m.

From the Studio,

A Xylophone Reettal by Master Sadau was with violin and Pianoforte accompaniment by Mr. and Mrs. Iwal.

Progr

1. Miltary Mareh (Schubert) Avo Maria (Bach-Gounod)

Hungarian Dance No. 6 (frame)

4. Will Tell-Fantasia (Kreuger)

6. Dlue Bells of Scotland (Varinilon) (Far

ser}

6. Japanese March (Setoruchi)

10.30 p.m. approx:) Rugby Mid-day Press News.......

10.35 p.m. (approx:) Close Down.

KZRM PROGRAMME.

Today's brondenat from the Manila atatkan: 8.00-Studio Music

6.80 p.m.-Studente Radio Club, 4.10 p.m.-Spanials Informational Period 6.30 pm Englah Informational Period. 7.00 p.m.-Dinner Al-Day View Hotel

Orchestra. 7.10 p.m.-Request Programme. 7.4 p.m.--The Ornelo the Ale. 8.00 p.m. General Electrie Programing- General Electric Orchesten. Gunt Artist

H.30 p.m.lla Hocane Programme→ Lokalia Entertainers.

0.00 p.m.--Dance Music-Lyric Mile House

Orchesten.

10.30 p.m.-Close down.

21 YEARS AGO

EXTRACTS FROM THE "TELEGRAPH" FILES.

the

The following extracts are from the Hongkong Telegraph for week ended Oct. 6th, 1911.

The rate of the dollur on de mand wna Is. 9%d.

Mesar. C. C. Moxon and J. 'W. Taylor established themselves as share and general brokers under the Arm name of Moxon and Tay-' lor.

Hongkong reccfved the first let. ter from England which had air mail postmarks indicating that the new United Kingdom service was in operation.

The Chinese section of the Can- Yesterday. ton-Kowloon Railway was official-

88.1/10

17.804ly opened, thus linking the Colony 14.17./82 with Canton by rail.

232

10.8%

580

The Government's intention of 07.5/10 celling Beaconsfield Building was

Nom. announced,

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SPECIAL CALÁ NIGHT Featuring

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For

8th October, 1932. (8.30 p.m. till 2 a.m.).

For Table Reservations

Phono 68031.

.88.14

17.90%

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.19.85

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SPECIAL CHRISTMAS PRICES: Cabinet (61⁄2 X 44) $25.00 par Dozen, $15.00 per 15 Boudoir 18 X 6) $35.00.

CHRISTMAS "MA!L-PHOTOGRAPHS.” Cabinet (61⁄2 X44) unmounted, printed on thin

$18.00 Per Doxen.

Appointments: KOMOR & KOM, S

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KOLZA STUDIO.