New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-22
ReAexes of War

holders Of the Fine Cotton Spinners'
and Doublers' Association, Ltd. an Eng
lish concern, with headquarters at
Manchester, the chairman made some
interesting remarks on the status Of
the company's plants at Lille, France.
in the territory now occupied by the
German army: "Our Lille properties
lie said. stand in the books exactly at
the price at which they stood last
year: but. as you will see, we have
made some provision against any pos
sible loss upon those properties. Nat
urally, owing to the fac. that they are
in the occupation o. the Germans, we
have not any very definite information
about them. We have 10 rely upon ref
ugees and upon workpeople who are
sent back from Lille, and VIC have got
fairly accurate reports. The informa-
ton up 70 date goes TO prove that. so
far. these properties have not been
very much damaged or maliciously in
terfered with. Our representatives
have been allowed hitherto TO keep the
mills warm. and though our enemies
have taken away very large quantity
OF stock. they have given receipts for
same. Whether those receipts viii be
any good after the war time alone will
reveal. but we arc assured upon good
authority that they will be met. In
the mean time, am not going TO say
that when the happy moment arrives
shat we drive the Germans out of Lille
they will not take their revenge and
destroy these properties. or at any rate
iniure them. That Is in the lap Of the
future. At any rate. we have the COM
fort of knowing that up TO the present
no very great harm has occurred. In
addition 20 this, we have another in
surance, shall I say, IN this matter, and
that is that the French government
have very distinctly passed a law 20
the effect that they will repair all
losses by war or bombardment caused
by war. They are squabbling, or quar-
relling, or debating. shall ] say, vari-
Gus items in this bill. such as the
question whether things shall be paid
for al the prices Of the day when those
things were destroyed. or OF to-day, or
Of the day before the war, and so forth.
but they have. AZ any rate. definitely
decided that the responsibility il the
responsibility Of the state. or, rather,
that the damages should fall upon the
community, and not upon the lndlvld
ual or class that has suffered the loss.
All this l.. OF course point IN our
favor. and trust that the English gov
eminent will follow so good lead"
According TO a White Paper. which
has recently been issued by the Board
Of Trade, it is estimated that 255,sf6,-
600 tors Of coal were raised at mines
in the United Kingdom in 1916. as com
pared with 253, 179,00O tons IN 1915 and
265, 633 900 tons in 1914. The output IN
1916 was thus IL per cent greater than
i'm 1915 and 81 per cent less than IN
1914. In the summer quarter DULY
September the production was ~ per
cent greater in 1916 than IN 1915; m
each of the other quarters the change
IN production IN 1916, as compared
with 1915. was less than per cent.
Net profits Of the Bank OF Japan
last year were 5.S970ll ven S2,94s,-
500. compared with s5,50f,204 yen
(S2,752.00O) IN 1915. At the semi-an-
nual meeting held recently az Toxic
the governor. NiscOunt Yataro Mi
shima. gave an interesting review Of
the years operations.
deposits, advances and cash in
hand" he said, "all showed a marked
increase over those Of the previous
year. yet relatively 20 the deposits
the advances and the cash rather tend
ed 20 decrease, especially the last.
The amount Of cash sometimes did not
reach even one-third Of the amount
in the CORES ondinG period Of the
previous year, the decrease being m
all probability due 10 the TACT that
proportionateiy large amount OF
money went into public loan bonds,
debentures. shares, foreign securities
and the like. The second is that not
only did the government redeem Tor
cign loans amounting 10 lOs.UOOOUO
ven. but also among the public the
treasury bills OF the Russian govern
ment. the Szu-cheug Railway loan and
the cxchequer bonds IN yen OF the
British government were taken up or
Issued. and, in addition 20 these. an
other batch Of the treasury bills OF
the Russian government which had
been taken up and held by the govern
ment deposit bureau was also absorbed.
the total amount OF these foreign gov
eminent securities taken up or issued
here being over 240,O0O,O0O yen. there
being thus last year complete re-
versal of what had been occurring
for many years previously. when X
was quite the order of the day for
foreign capital TO be introduced and
foreign loans issued The third Is
that with the excess Of exports, the
accumulation Of specie, the develop
ment of enterprises and the expan-
sion Of businesses. the amount OF
notes issued By this bank also in
creased gradually, until on December
30 10 reached the enormous and UMPIRE
cedented figure Of 6l0.53O,OOO yen
ls3O5 .265 .0OOl. The main conditions
Of our foreign trade being so good.
tho course Of exchange or foreign
countries was generally favorable to