The Issues of the Year 1932,
i.
The February number of the Mon'thly Review of the Rotterdamsche Bankvereeniging contains an extensive. survey of the issues which took place on the Amsterdam Bourse in the year 1932. We give an extract below. In reviewing the small number oi new issues that were made during the past year, one would have got repeatedly the impression that the issue activity of 1932 had even fallen behind that of the year 1931, which was already moderate. This, however, was not so, at least as 'far as the total amount issued is concerned. It is true, that the number of issues (92) in the year just ended was smaller than that of the year before (130), but the surn total issued, specially owing to the large issues of the last quarter, considerably exceeded that of the year 1931 (f1310.67 as against 227.37 mill.), so that that year still shows the least total amount issued in the post-War times. Certain tendenties which had already made themselves feit in the first years of the crisis, have been accentuated in 1932: we would refer here to the reaction of foreign issues, the reduction of issues of private enterprises, as well as the diminution in the issues of shares. The foreign issues only amounted to f1.23.43 mill., while they were fl.39.65 mill. in 1931 and fl.238.47 mill. in 1930. This part of the issue activity being thus almost entirely in abeyance, it is to be hoped that with the return of normal conditions a revival will be recorded here too, while a very careful selection should be made of the stocks offered to the public. The issue activity in 1932 also included, to a far larger extent than in previous years, the securities of public corporations, which were not only offered in a far larger measure, but which enjoyed increasing popularity. This can be explained by a fact we have called attention to before in these columns: that the rates of the older securities of this kind have been rising. Whereas the issues of public corporations in the “boom year” 1929 amounted to only 16.1 % of the total amount offered, they increased to 55.8% in 1930 and to 79.2% in 1931. This high ratio was even exceeded in 1932, when 88.0 % was recorded. The issues of shares have almost reacted to zero. That this is no mere figure of speech, but a fact, is shown by the part these issues form of the total amount: 0.2 %! In 1931 it was still 4.1 %, in 1930, 5.1 %, in 1929 pvpn 1
besides these issues there were numerous conversion loans. It is true that their total amount at fl.267.29 mill. was considerably lower than that of the year 1931 (422.50 mill.); but that is probably not so much due to the fact that the market was less favourable for certain securities in the first half of the year, as to the number of loans ready for conversfon being small. In the second half year the large demand for investment stocks also facilitated the issue of conversion loans, which opportunity, of course, was used in as many cases as it was possible. The Dutch Government has carried out two large conversions: the 6 % loans, calling up reminiscences of the first years after the War, were converted into 5 % cnes (part of the public even then advocated the 4J % type); and just before the end of the year the conversion of the first of the two 5 % loans — issued for the conversion of the 6 % loans—into a 4 % loan was announced, the conversion of the second being expected in the near future. On the whole, it may be said that the interest of the public for first-class investment stocks has much increased, which fact characterized the whole issue business, the securities to be issued as well as the conditions of issue. Having pointed out the chief tendencies of the issue activity in the past year, we shall now discuss the details thereof. The extent of the issue business in the years since the end of the War may be seen from the first of our tables. As already mentioned before, in 1932 the total amount thereof was somewhat higher than in 1931. If also the issue öf conversion loans is taken into account, the sum total is a little lower than it was in 1931, while it may be said that the figures in the individual years of the last quinquennium do not differ much from one another. The Issues 1919—1932. Amounts in Amounts in VTar fl. 1,000 Year fl. 1,000 j 1919 1,182,106 1926 458,961 2) 1920 1,168,873 1927 490,8943) 1921 472,869 1928 661,7524) 1922 435,574 1929 463,3605) 923 237,320 1930 528,3256) ' 1924 364,705 1931 227,369 7)*) 1925 263,7681) 1932 310,673s) J
U Inclusive of conversion loans fl.498,768 ] 2) „ „ „ „ „ 900,186 i !) „ „ „ „ „ 539,525 * ‘) „ „ „ „ „ 701,448 ’) „ „ „ „ „544,384 5) „ „ „ „ 595,908 r) .. „ „ „ „ 649,872*)" 3) .. >, „ „ „ 577,961 i *) The figures of 1931 had to be cor- a rected, because in 1932 it became mani- e :est that of some loans issued in 1931 only ine half had been subscribed to. o
The Netherlands as well as Netherlands India made calls on the Dutch Capital market in the past year. In the case of the mother country this was done in order to float conversion and consolidation loans; in that of the colony for the purpose of raising new money only. The obtaining of the funds required for short term financing was rendered much easier by the low rate of interest; but it can be understood that the authorities have not made an excessive use of this facility. In examining the appended figures one ought to remember that by far the greater part of the issues of Treasury Bills was used for the (cheap) renewal of liabilities falling due, and further that the Government of the mother country also supplied the short-dated amounts the Dutch East Indies needed. The attempt made in 1931 to issue Treasury Notes running for several years, was not renewed in 1932. Altogether the circulation of Government Loans, short-dated and of medium ternrs, at the beginning of the last few years, respectively the end of the preceding ones, amounted to the following sums:— Amounts in Amounts in Year fl. 1,000 Year fl. 1,000 1922 781,700 1928 132,416 1923 682,182 1929 121921 1924 605,356 1930 205,807 1925 297,213 ' 1931 236,170 1926 234,379 1932 411,119 1927 149,081 1933 456,286 Although, owing to the relinquishment of the gold Standard in Great Britain, the investment market were disorganized in 1931, and the effects of this event were even making themselves much feit in the firsi months of 1932, the public, whose confidence in the Dutch currency had never been shaken, gradually began to turn its attention to investment stocks once more, the rates of which had much suffeted by the British measure. So the conditions of issue for the loans of public corporations became increasingly favourable; good city loans which formerly could only be placed at 5 %, were now easily disposed of at 4i %, while provinces could issue 4 % loans. The Government loan, also at 4%, to which subscriptions were invited in the beginning of 1933, was issued at 100%, while the rate of the older loans is now above par. We have now also dealt with the conditions of issue, except in the case of foreign loans. As far as the latter are concerned, the market was entirely closed to Gerrnan securities, and
the same may be said of all countries. which abandoned the gold Standard and whose currency, according to the general opinion of the public, had thus deteriorated. Even for this reason the number of loans issued was small, while in addition to the currency question, also the genera! financial and economie situation produced an adverse effect. Of the four foreign loans which were offered in the course of the year, most, not all, were successful. As a general opinion about the conditions of issue of foreign loans cannot be pronounced here in view of the small number of offerings, we omit doing so this year,. Classified according to the different groups and quarters the issues were as shown by a table accompanying the article. Except in the third quarter, when the issue activity is usually lowest, it was rather evenly distributed over the various quarters. Of the twenty groups into which, according to our classification, the takers of credit are divided, only eight have applied to the capital market, and could do so; if, however, the public corporations are not counted, it is only six out of the remaining eighteen groups. The conversion loans which are nor included in the said table, are given below :— Share of Home, Foreign, and Conversion Loans. Amounts in fis. 1932 1931 Home : New Issues 287,243,621 187,718,730 Conversion Issues 262,362,200 406,762,176 Total 639,1606,821 694,480,906 Foreign: New Issues 23,429,700 39,660,713 Conversion Issues 14,926,000 16,740,320 Total 38,364,700 66,391,033 Altogether 677,960,621 649,871,939 Supplementary to the above data we give here the following details of the conversion loans floated in the last two years, classified according to the afore-mentioned groups. With one single exception, it is in fact only the public corporations that have issued such loans :—
Conversion Loans 1932 and 1931. Amounts in fis. Groups 1932 1934 Government loans 261,376,000 207,681,376 Provineial and munieipal loans 14,925,000 134,714,651 Banks — 880,000 Industrial enterprises — 11,730,000 Electricity etc — 8,709,120 Miscellaneous enterprises . 986,000 3,340,260 Ecclesiastieal loans — 7,673,000 £ Railways — 47,496,200* Tram ways, narrow-gauge 1 railways,, etc. — 278,(000 Total 267,287,200 422,502,496 1 *) No account has been taken of the exchange 1 rf shares of the H. IJ. S. M. and the S. S. into r bonds of the S. S. and the H. IJ. S. M. The £ amount of shares converted has not been publish- C ■d. It may have reached fls.38,475,000 at the most. JThe division of the issues into those c if public and private corporations i:
may be seen from the next table :— Issues of Public Private Year Corporations Issues *922 69.6 % 30.4% 1923 85.8 % 14.2% 1924 66.0 % 34.0% 1925 52.2 % 47.8 % 1926 55.0% 45.0% 1927 37.0-% 63.0% 1928 *) 20.2 % 79.8% 1929 *) 16.1 % 83.9% 1930*) 55.8 % 44.2% 1931*) 79.2 % 20.8% 1932 *) 88.0% 12.0% *) Exclusive of conversion loans. In examining the above figures we tvrote last year :— “What strikes the reader is the fact to what degree the above figures reflect the general economie conditions: if the latter are favourable, the issues of private, if unfavourable, those of public corporations predominate. This parallelism is perhaps even more pronounced when the issues are classified into fixed interest stock and shares, which is done in the next table.” What was written then, has been till further oorroborated by the levelopment of the past year. The mixed forms that were much sed at the time of the latest boom, ke debentures with optional stocks urchase warrants, or bonds that can e converted into shares, have not een very popular since the beginning f the depression, but a few isolated ;sues of that kind are still made.
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The Economic Position.
FIOURES FOR 1923-1932. t ) t m „ i :n x. -
The Central Statistics Bureau has published the annual figures for the economie position in the years 19231932. Population. The figures for the population movement show that, with 22 births and 9 deaths per 1,000 inhabitants, 1932 had the lowest birth and death rate in the ten years under consideration. The birth surplus was practically equal to the average surplus in the five preceding years. Before 1927, however, it was generally higher. Infant mortality, with 46.4 per 1,000 births, reached an unprecentedly low figure. Agriculture. The influence of the Wheat Act appears clearly from the increase of the acreage under wheat. Whilst in the years 1923-1929, it varied between 45,400 and 62,200 hectares, from 1931 to 1932, it rosé from 77,800 to 118,400 hectares. For other kinds of grain, more especially rye and barley, a certain drop was noticeable. The growing of consumption potatoes increased in 1932 fairly considerably as compared with 1931, when it covered the greatest area of the whole decade. The growing of factory potatoes, although it increased somewhat, as compared with 1931, was less extensive than a few years ago. Coal. Although the home consumption of coal has somewhat decreased since the cold winter of 1929, the production increased till 1931. Imports and exports of coal were in that year, 9.2 and 9.3 million tons respectively. Pig Iron. The production of pig iron reached a maximum figure in 1930/31. In 1931/ 32, it dropped again to a figure somewhat below that for 1928/29. Electricity. Consumption of electricity still „continued to increase, although last year such increase was less marked than before. In total, over two million kilowatt-hours were consumed in 1932, as compared with 836,000 in 1924. Wholesale Prices. The international drop in prices finds expression in the drop in the index figures for our Wholesale prices, which dropped from 142 in 1929, to 79 in 1932—a drop of 44%. Cost of Living. The drop in the cost of living at Amsterdam and The Hague was less marked, being 16 % for workmen’s families and 15 % for the better situated. Postal Cheques. The postal cheque service of the Netherlands Bank decreased materially (fl.42.8 milliard in 1929; fl.37 milliard in 1930; fl.28.9 milliard in 1931 and fl. 16.7 milliard in 1932). The general postal cheque service reached in 1931 a record figure. The Security Market. The débacle on the security market
is clearly illustiated by the drop in the index figure for the rates of shares. On the basis of 1921-1925= 100, those rates stood in 1932 at only 32 or little more than 25 % of the years 1928 and 1929. The proceeds from 3 % and 4 % railway debentures, as a type of first-class investment, were in 1932 greater than in the seven preceding years, viz. 4.72 % and 4.62 % for the State and Holland Railways respectively. The 2è % and 3 % Public Ledger bonds yielded 3.89 %. The important shifting in the matter of public issues from the share to the bond market appears from the drop in the amount of the newly issued shares from fl.217 million in 1929, to about fl.333,000 in 1932 and the corresponding rise of the total bond loans issued in the same period, from fl.84.2 million to fl.239.4 million. The foreign loans issued in Holland dropped from about 11.250 million in 1928, to fl.23 million in 1932. State Finances. That the State finances were affected by the crisis, appears from the drop in the revenues from the ordinary sources from fl.656 million in 1929, to fl.544 million in 1932, whilst the estimate for 1933 only amounts to fl.518 million. The drop in the ordinary expenditure has not kept pace with this decrease in revenue, being in the period under consideration only fl.25 million. The Consolidated National Debt dropped gradually to fl.2.3 milliard in 1932. For 1933, a slight increase has been estimated. The municipal debts, on the other hand, have steadily increased up to 1931 (later figures could not be obtained). In that year, they were (inclusive of the provineial debts) greater than the Consolidated National Debt. The report further contains data concerning labour conditions, social provisions, etc. The index figure for unemploment throughout the year did not drop below 22.1 and in November reached the 26.9 mark. At the end of that month to the end of December, the unemployed registered by the labour exchanges rosé from over 310,000 to over 350,000. Data concerning wages show that on the whole up to 1931, the money value of wages rosé. The stagnation in housebuilding is illustrated by the decrease in the number of completed dwellings from over 51,000, in 1931, to over 44,000 in 1932.
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NETHERLANDS INDIES. East Indies.
Tin. In the year 1932, 86,195 quintals of Banka tin was sold in Netherlands India for fl.9,853,923, so that the average price was fl. 114 per quintal. West Indies. In the year 1932, 4,514 steamers aggregating 48,746,459 cubic metres gross and 26,803,126 cubic metres net and 1,066 sailers, totalling 106,150 cubic metres gross and 95,756 cubic metres net, called at the port of Curagao.
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DIRECTORY TO THE HAGUE AND SCHEVENINGEN.
March 3—March 9. CONCERTS, TT1EA TRES ETC. Royal Theatre. Rotterdam Hofstadtooneel. Saturday, March 4, 8.15 p.m., Sunday, March 5, 2.15 p.m. and 8.15 p.m.: Father of the Fatherland; Monday, March 6, 8 p.m. Amsterdamsche Tooneelvereeniging Circus Knie; Tuesday, March 7, 8 p.m. Schouwtooneel: In the Night of April 17. Geb. voor Kunsten en Wetenschappen. Saturday, March 4, 8 p.m. Mengelberg Concert. Soloist: Caspar Cassado, cello; Sunday, March 5, 8 p.m. Rott. Hofstadtooneel: Street Arab; Wednesday, March 8, 8 p.m. “Residentie” Orchestra : Popular; Performance. Excelsior Theatre. Excelsior Company. Saturday, March 4, 8.15 p.m,., Sunday, March 5, 2.15 p.m. and 8.1.5 p.m'.: Ghosts, by Henrick Ibsen. Princesse Theatre.' Fritz Hirsch Operette: Blume von Hawaï. Scala Theatre. The Crew of the K XIII. PrCTURE THEATRES. City Theatre. Kaiserwalzer. Odeon Theatre. The Grand Hotel. Passage Theatre. The Sign of the Cross. Olympia Theatre. Das Lied einer Nacht. Apollo Theatre. Aus dem Tagebuch einer Frauenartztin. Seinpost Theatre. Berlin.—Alexanderplatz.
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Holland in the Foreign Press.
Why Dutch Yards Secure Orders. The Journal of Commerce (Liverpool Feb. 15) writes :— Dutch shipbuilders feel that they have just cause for complaint in the constant recurrence of reports in British newspapers that it is only because of Government subsidies that they are able to secure contracts which might otherwise have gene to British yards, especially owing to the depreciated value of the pound sterling. Mr. J. H. C. Salberg, director of the Netherland Graving Doek Company, of Amsterdam, strongly deprecated these insinuations, and strongly asserted that Netherlands shipbuilders did not receive a penny piece from their Government in any form which could be construed to be a subsidy. A Rotterdam shipbuilder stated that the industry as a whole was absolutely against subsidies, declaring them to be unhealthy. Mr. P. Goedkoop, of the Netherland shipbuilding Company, of Amstedam, in an interview, also emphasised the fact that Dutch shipbuilders did not receive any subsidy from their Government. He went further in explaining why Dutch yards, and his yard in particular, were able to compete and secure a share of what little business there is offering at present. During the four years of depression (1929-32) his firm secured contracts for the construction of 13 fast motor cargo liners, which success he claims to be the result of specialisation. In denying any form of subsidy being received by them or any other Dutch shipbuilder, Mr. Goedkoop pointed out that these orders did not mean that thy were making a fortune; on the contrary, the depreciation of the pound sterling came as a disagreeable and costly surprise. One of the main reasons why they were able to secure those contracts, in the face of fierce competition, was mainly due to the scientific, and thereby economical operation of their plant, though he admitted that, so far, the industry was not so trade union-ridden as was the case in Great Britain. Whereas in England four men were required for the operation of punching holes, at his yard only one man did that job, but of late they had taken to drilling holes instead of punching them. Especially when sister-ships were under construction that operation worked out much cheaper as with one-inch plates, six were drilled in one operation, thus, incidentally, securing a greater measure of accuracy. A sounder riveting job was also ensured, and the number of rivets which failed under test—eacht rivet being tested—was less than one per thousand. The economy thus obtained was cons'derable. Anyone acquainted with shipyard practice would appreciate the time and money thus saved at the yard. The arrangements for handling material at his yard, Mr. Goedkoop continued, had been brought to such a pitch that the whole procedure, from storage, through the various shops to the building berth, might be compared to the transporter baud System in use in mass-production factories. Unlike foreign yards, the shell plating for the whole of the ship under construction was prepared as a whole, and the building of the vessel resolved itself into a straightforward job, comparable to the building of model houses of toy bricks. There was no running backwards and forwards between berth and shop for a plate for this and a plate for that, and waiting for it to be made ready, probably holding up the job on the vessel. Another point was the specialisation of the yard hands for different jobs, which had grown to such an extent that it was possible to determine long beforehand exactly how much time a man required for a particular job, and failure to come up to that Standard was the man’s undoing. A special point was that each man was on ' piecework, no matter what the job wjas; even the costly job of finishing off the ; ship had been brought to such a fine art that thousands of guilders were saved on the usual cost. “A vey ingenious method has been j adopted by this yard for such work,” I
auutu au. vjutuMtuft. 2-Y y cl l u llallU IS given a ticket on which are printed the various jobs that require doing, when finishing a ship. This card is punched by the foreman indicating which jobs the man has to attend to, which is so calculated that it would normally take him eighf hours. He only gets paid for this much work irrespective of him taking more or less than eight hours. It is often found that a man, on completing his set of jobs as indicated on his ticket, finds himself with some hours in hand, when one may see him run for another ticket so that he can earn some extra money during the hours he has saved. Even with these tickets the various jobs are all calculated on piece rates. No scamping of the job fakes place, as a sharp control is maintained. “Another advantage of the Dutch yards over the British yards is that the percentage of skilled labourers emplc^ed amounts in some instances to only 20 per cent., whilst in British yards it may be as high as 80 per eent. This low percentage of skilled' labour employed is not detrimental to the work for which this yard, at least, is well-known,” Mr. Goedkoop said in conclusion. It is of interest to give the narnes of the 13 fast motor cargo liners which have been completed during the last four years, or are under construction at present, as mentioned by Mr. Goedkoop. They are the Kota Pinang, Tjisadana, Tabinta, Tajandoen, Tjinegara, Tawali, Tabiau, Trondanger, and Berganger. The Moldanger is now almost completed, and the work on hand comprises two ships for Captain Wilh. Wilhelmsen, Oslo (yard’s Nos. 224 and 225), and one (No. 226) for the United Netherlands Navigation Co.
phials of cheap European orjapanese perfumery. He will take up a position along the highway for which he pays no rent, and then dispose of his wares to the native passers-by. His next step will be to go from house to house hawking sarongs and playing the róle of Banker on a small scale. In this way, having amassed a little capital, he starts being a house owner, and ends by being a landlord. There is now no tracé of their fame as seafarers. Their leadership in the matter of religion is on the verge of tumbling down, for the rising tide of national consciousness has set the younger generation of educated natives to regard Arabs as successful traders and nothing more. With the introduction of prayers in the Malay and Javanese languages in the Mosques, and the translation of the Koran into the vernacular. Arab influence has been further weakened. The Java Arabs are a very law abiding race; their second mother country has so many advantages to offer them, that they are perfectly content with their lot in this Paradise of the East, where thrift and toil are rewarded by wealth and ease; where property and person are safe from the eyes of covetous Sultans and Nornad Raiders.
Modern Dutch Architecture. A correspondent writes to the Edinburgh Evening News (Feb. 9):— Although near to us in actual distance, Holland is remote from us in many ways. The Dutch outlook and ways are entirely different from our own, which, probably more than anything else, make a visit to the Netherlnds pleasurable, and act as a tonic to jaded minds. In the matter of architecture the Dutch , stand apart, and although, like other i nations, Dutch architects interpret the spirit of their time in the buildings they are puttng up, the interpretation is dif■ ferent. This is partly due to the feeling of ; the creators, partly to the materials with which they have to work. The results, so far as one can guess from photographs, are extremely fine, and might well serve as models for architects in this country. In the February number of “The Studio” Faith van der Horst-Brooke gives an account of the trend of modern architecture in the little land across the sea. She says: “Dutch architects have the support of a keenly interested public, which is pre, pared to consider modernism as a fine Creative adventure, and which recognises the fact that a new and growing tradition is necessary to a healthy life.” This unbiased attitude on the part of the Dutch public is as refreshing as it is unique, and it, like the new Dutch architecture, might also be adopted with advantage in this country, for if the creators of modern buildings are to be hampered by the prejudice of people who want things as their fathers had them, we are not likely to get very far in our town-planning schemes. Several fine photographs of new buildings at various towns in Holland are reproduced. Some of the designs, particularly those of large stores, strike our conventional minds as strange, but it must be remembered that, as bricks and tiles predominate in their construction, and that colour therefore takes an important place in the effect produced, photographs, however good, cannot do justice to them. At Hilversum, Amsterdam, there are new schools of notable design. One, extremely picturesque, has walls of yellow brick and a reed-thatched roof. Another, a kindergarten school, is planned round an irregular-shaped courtyard, open on one side to the road, with a pool and fountain in the centre. It has a dovecot tower. The building is of small yellow bricks with roof of dark pantiles. Yet another school at Hilversum is the last word in modernity. Carried out in red brick, glass enters largely into its composition. It has a flat roof, and a semi-circular bay of glass bricks forms the end of a large hall. Extreme simplicity is the keynote of this fine building. Hilversum Town Hall is also shown. It is composed of hard, narrow, yellow brick. “The clocks”, says the writer, “which form a rhythmical part of the design of the tower, are of blue and gold, and between the Windows of the office block there are short piers, triangular in plan, faced with a bright, pale blue glazed tile. The stanchions of the covered way to the main entrance are covered with a lovely small gold tile. The white facias of the flat roofs have a bronze fillet to the upper edge. The approach to the main entrance runs alongside the square sheet of water, which washes against the walls of the building, and the great canopy of the entrance rests on four big cantilevers. There is nowhere any applied ornament, but the interior of the building is rich with the finely contrasted colours of the materials used.” The designer of the fown Hall and of the schools in question is Dudok, a famous Dutch architect.
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The Trade Balance.
Imports (in mill. of guilders) Jan. 1933:-95 Jan. 1932:-131 Dec. 1932: —107 Exports (in mill. of guilders) Jan. 1933: — 58 Jan. 1932: — 70 Dec. 1932: — 70 Percentage of Import value Covered by Export Value. Jan.. 1933, 60.7% December, 1932 65.6 % Import of gold and silver in the month of January, 1933 fl 69,447,315 Export „ fl 64,343,542 THE STATE REVENUES. Ordinary Service (in miUions of guilders> Jan., 1933:Revenues fl 30.7 Estimate fl 31.8 Jan., 1932: — Revenues 9 314
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The Arabs in Java.
■The December number of the Netherlands Colonial Trade Review, published by the Holland-American Chamber of Commerce for the Pacific Coast, contains the following article from the pen of Mr. E. V. Solomons: Of the many nationalities Netherlands India has attracted by its wealth, not the least interesting are the Arabs. It is believed that the Moluccas and the Spice Islands were known to the Arabs long before the Christian era; they are also supposed to have carried on commerce between Sumatra and Madagascar in their famous dhows, as in the latter island the language is full of javanese and Malay words, introduced, no doubt, by the slaves brought from Sumatra. According to historical records, the first Arab to visit Java was Ibun Batuta. This was in the year 1300 A.D., and he lived for some years in Grisee near Sourabaya. The next historical instance is that of Maulana Malik Ibrahim, a ceelbrated Arabian scholar, who arrived in Java in the year 1375 A.D. His object was to convert the natives, and he, too, resided in Grisee till his death in 1412 A.D. To this day his grave is venerated and his memory receives the homage paid to that of a Saint. The pliability of the native character led to easy conversion at the hands of Arab priests and travelers, noted for their fanaticism in proselytising. Arab influence spread as the Mohammedan 1 religion gained a footing, and this was made easier by the marriages contracted between Arab adventurers and the daughters of Rajahs and Chieftains. To such heights did their influence rise that we find an Arab occupying the position of Sushuqan (Emperor) of Cheribon in 1526 A.D. and leading a victorious army against Bantam and Bogor (the present Buitenzorg) during his reign. The lasting monument of the Arabs ( is the spread and vitality of the i Mohammedan religion at the present day. Before the banners of Islam and j the weapons of a converted native j army, the mighty empires of the \ Hindus and Buddhists feil one, after s thp nfhpr (
Most of the Arabs found in Java today tracé their origin to Hadamaut in Arabia; a steady stream of immigrants preserve the age long connection and add fresh blood to the colony. They are, as a rule, very clannish, living in certain well-defined quarters of a city, where their women are closely shielded from the gaze of strange menfolk. Although the Java Arab is of mixed blood, through his forbears contracting unions with javanese or Malay women, he still preserves his native tongue, unlike the domiciled Chinese, who depends on the Malay language for his medium of expression. An Arab in the streets of Java is easily traced through his swarthy semitic features and piercing eyes. The elders and well-to-do merchants wear a long white muslin outer robe, but the average middle class Arabs don a sarong and dark colored coat of European cut. Their women folks adopt the native dress; that is to say, a white jacket and a batik sarong, and cover their heads when they appear in public. The majority of the Arab children Mtend schools where education is iinparted in the ancient Arabic manner; the Koran being the chief subject of study. Not till recently did Arab children attend Dutch schools, so it is very rare to find this community occupying high civic positions, or in the 1 employ of the Dutch Government. Arabs derive their chief livelihood from the possession of house property, j as dealers in Batik Sarongs, as sellers ’ of religious books and from acting as ' capitalists. No Arab has been found ] occupying a menial position or in the ‘ service of others except his own kith 1 and kin. ;
.vlosi oi me ouuaings in tne residential and business quarters of the main towns of Java are owned by Arabs, who find this a safer form of investment than any other. As Mortgage Banks and Dutch Life Insurance Companies are always willing to furnish money against such securities, the building activities of the rich Arabs seem to have no end, It is a common ihing nowadys to find streets named after prominent Arab landlords. The frugal life these Sons of Hadra- : maut lead, and their innate sense of ' thrift make the majority of them 1 wealthy in course of time. An Arab, [ who has newly arrived in Java, will j start on his career of wealth by obtaining from his countrymen credit to procure a tray full of trinkets and ' (CONTD. AT FOOT OF 2nd COL.) ,
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Advertentie
Imprimerie „De Residentie”, Soc. An. Pletterijstraat 101-107, La Haye.
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