INTERVIEW WITH A LONDON FINANCIER.

Auckland Star, Volume XXX, Issue 7, 10 January 1899, Page 2

INTERVIEW WITH A LONDON FINANCIER.

MR F. E. JOSEP-x, FORMERLY OF

SYDjNEY

THE TRADE OF EUROPE,

MARCOIsTS WIRELESS TELE-

GRAPHY

Mr Francis E. Joseph, formerly of Sydney, but 61 late years a resident in London, was a passenger by the German mail steamer Konigin Luise, which reached Sydney last week. Mr Joseph is ■ eoi-mee.ed with -what is known as high finance, hi London, and it is owing, to family bereavement that he is revisiting Sydney. Mr Joseph, in conversation with an Adelaide 'Advertiser' representative on board of th c steamer, stated that trade in England and Germany, is active, and that money is wanted. 'There was never such trade in Germany before,' ne remarked.: He continued: 'Speculation in Germany now also is immense.. The; German banks have large &,ums locked up in unrealisable securities, and this lias affected rates there as well co'iri France and England. The activity in England and Germany'has been followed by a great development of trade in the United States. Important railways are in hand, great industrial enterprises are contemplated, and the. general indications point to a probable great demand for money for internal affairs, beyond which large sums will be required for employment in Cuba, Porto Rica, and the Philippines. With such a state of activity in these three vigorous countries, others compare unfavourably, though the general trade of Europe shows an increase rather than diminution. Money may therefore remain at present rates for a considerable time. It will probably vary little more than half per cent, either side of the present Bank of England rate. With such a feeling in England, surprise is felt that money should not be worth more in Australia. The large insurance companies and others having large sums for investment can certainly obtain better results in England just now than in Australia.

'The increased importance of Germany at sea must be apparent to all. As an example, the North German Lioyd Company has how 58 ships running and 12 building, making a fleet of 70 first-class new vessels.. The Ham-burg-American Company has 62 running and 16 building, a total of 78. It is rumoured that these two immense concerns are to amalgamate, in which case English shipowners would have to compete with a foreign element of immense strength. The increase in. the mercantile marine will necessitate naturally more ships of war, and the best guarantee for the peace of Europe would be an alliance of England, Germany, America, and Japan. The latter would be especially valuable if the integrity of China is to be maintained, and the "door left Open." Much interest is taken in the Philippine question, as influencing the future of British possessions "in the East. 'English politics are at present uninteresting, owing to the great confidence which the natipn feelJfl_JhQ Salisbury administFation, but a very difterent state of things exists in. Paris,' where the most thoughtful people are- apprehensive of a civil war, which it would take but the smallest spark to explode. The terrible effect of the mal-administration of justice in the Dreyfus case is far-reaching, and it may yet prove the immediate cause of the decline, and possibly the fall, of the great nation responsible for it. Some of the oldest members of the London Stock Exchange declare there can be no revival of activity either on London or Paris Exchanges Until the Dreyfus case is definitely settled. Beyond the influences which are humanely working in the interests of the unfortunate prisoner, there are countless influential persons at work whose motives are doubtless thoroughly selfish.'

'Have you not. taken a deep interest in Signor Marconi's system of wireless telegraphy?1

'Yes. Wireless telegraphy is. the most exciting development in the electrical world, and the shares in Signor Marconi's Company, the Wireless Telegraph and Signal Company, started at a good premium. Their station atPoole is the centre of attraction just now for scientific men of all nations, who are able to send their messages to Alum Bay, in the Isle of Wight—a few miles away—and receive their replies whether by night or day, and either in foggy or clear weather. This is a great improvement, on the heliograph, for instance. • The pole at Poole is lObft. high. The height required for distance may be said to be 30ft. of vertical wire equal one mile, 60ft. df vertical wire equal four miles, 100 ft. equal 18 miles, and so on proportionately. ; The French Government are contemplating permanent communication with us between Dover and Calais, and Folkestone *ad Boulogne, the latter places being approximately 35 miles apart. The system is daily used by the. Italian navy, who have been ith& first to maj^e practical use of it. 3,t is understood that Lloyds insist that' the light-ships around the coast of Great-Britain shall be fitted with instruments.' . ~

'How can messages be so controlled that they can b\e received at a-'desired place, and at the,same time jnot be transmitted to other places?' i;

'By the use of a transmitter/ tuned to harmonise with the receiver at the desired place. Supposing, for example, that a fleet is installed, and that the Admiral desires to invite the captain of a particular vessel to dinner, without the risk of offending the captains of the other vessels, he can use a tuner! to harmonise with the receiver ohithat particular vessel, and thus send message.'