THURSDAY, NOVEMBER 13, 1915.
ENTERTAINMENT.
HARMSTON'S CIRCUS
AND
ROYAL MENAGERIE
OF
PERFORMING WILD ANIMALS,
LOCATION: CAUSEWAY BAY.
TO-NIGHT! TO-NIGHT!!
AMATEUR RIDING CONTEST.
THE SCRAMBLE FOR CAPITAL.
AL
Lord Mlinar on, the Money Market.
THE CHINA MAIL.
Nama.
something ta say to it. But what his did confidently meet was that they wore not the only or the principal anusa" of the fo For a similar fate had överi taken the stools of almost overy Coveriz" ment in the world which had been in the enjoyment of Best-rata credit. Tho thet simply ww, that capital was no longer prepared to serve on the terme which it was willing to accept when these tas accurities were arvated. It had, so to Bmable. spoek, stryck for higher-unges. And it † Britomart ho" added, had struck for higher wagon was, for the tiny boing at any rate, in Cadmus and was for the time being in a positions position to obtain them.
Lard Milner delivered, bis providŝatir! addrew before the members of the Biz mingham mud Midland Institute ön Oe tober, 8." He doals at some length with the present. **soramble for capital in ail parts of sito world, and pointed out the reasons which had led to the present position of the money market, Capital,
to obtain them.
Loed Milner, having returned, thanka (or his appointment as prosident, printed
choose his own, subject as long sa steered clear o political controversy. It
THE DIFFICULTY OF RAISING CAPITAL-
- With the free movement of capital from
A Handsome Trophy will be presented to the Competitor making the boatous that he wow left entirely free to tenéd demand in any part of the world ( Kinaba
attempt at standing on his feet on the Pad in three times round the Ring aided by the Mechanic (Limited to six entries.) AGAIN TO»NIGHT! AGAIN TO-NIGHT!!
OUR NEW PROGRAMME
ARTISTES..
BY OUR ALL STAR COMPANY OF LONDON AND CONTINENTAL NEXT MATINEE-Saturday Afternoon, November 15th. Doers Open at 3 Fr Performanco, at 4r. Sharp. Children Half Price to Matines Only.
Booking ROBINSON PIANO CO.
PRICES AS USUAL
N.B.-Our Moongaris is open daily for a small skargo.
HARMSTON; Proprietor.
Hongkong, November 11., 1913,
ho
was not coy to speak on some subject with which his experience and work in a had rendered him. specially fami- or without treeding, or at least, seeing
Fame one country to soother, a greatly heigh Hampshire
rando itself felt more or less in every Merlín pur. "The fact that capital generally tour wan obtaining a higher rate of remune that it was booming more and more Newastin rukion appeared to be ecnelusive proof difficult for productive industry to get Nightingale
Moorhen
↑ to trend, en forbidden ground. He was
all the expita" that it needed. It was Otter | afraid that 'be could not undertake to
not the total capital of the world which 'Ribble expound any of the cause which he had
affected the situation, but only the fresh Rosario most at heart" without giving offence to
Robin soro political party and perhaps to all.apital coming forward which could be While art science, literature, and various any use in nasixting the expansion of old or the inception of new enterprises,
His Britannic Majesty's Ships on the China Station.
sloop
1.
erulam, let alase river gunboat- eruiser, id elama liver gunboat torpedo bost destroyer torpedo bost destroyer depot ship, submarinom
river gun bost
$200
Gosunander,
Comdr, Archibald Cochrane Master W. Wast
L.-Comdr. E. & Prichard
Liant Choidr, W. B.` Dervall,
Comar. H. P. E. T. Williams“
Mamber H. Smith
Comdr. Colin Mackenzie, Ö.8.0.
Capt, M. R. Hill
24-Code. "EL IX, Marrysa
Capt F. C. C. Paso
Capt. E. B. Kiddi
Lt.-Com, Alan Dizou Capt. Frodariak A. Powlett
Lient.-Com. Malcolm Murray-
Comdr. R. Wilkinson'
$77,000
Alacrity
Claw.
despach-rewel
2650
1000
:
Admiralty tug
river gunbest
710
200
river gun best
710
200
aloop
1020
1400
Cherub
water tank and
tag
500
Clio
aloop
4
1070
· 1400*
torpedo boat destroyes
cruiser, at lea
10,850
river gunboat
10 20,600 €1200
1340
14,600
180
*"300"
4300
19 29,000
85
240
300
8
6300
7000
L4 Comdr. E. J. G. Hackinnon.
*180
1400
Chmdr. N. K. Archdale -
10
-Est-Comdr. Nash
Sandpiper
river gunboat
940*
14-Com. I. 1. 8. Hutton'
river gunboat
940
Li-Comdr. Mauzien B. Lenčia
torpedo bost destroyer
350-
4500
Ganner W. H. Bydar
Hoogher
Commodore R. B. Anstruther, C.M.9. Hongkong
180
80C
1770
900
It-Comdr. Hon. G. Stopford Upper Yangthann) L-Com HR. N. Cottrell-Dormer Cruising
11,988
18
19,500
Capt. P. Streatfail, M.V.O.
torpodo-boat destroyer
530
7500
LA-Comdr. Marwell
·15
Hongkong
torpedo "bost destroyer
855
1900
Lieut. Cam! Boddam-Whatham
Henghong
torpedo-bost destroyer
1520
$500
Comdr. Beginour!
Hoegkong
purpedo boat destrogue river gunboat: river gunboat
6
5900*** L-Comdr. R. Nevills
Hongbing
195.
9
"800
Lt.-Com Jα. F: Barrett
Upper Tang
151
500
It-Com. M. Blackwood
it
Jangce
river gunboat
150
500
I.-Comdr. Lloyd
light cruiser
22.000
Capt. E. L. Cochrane
Lt. Comdr. F. J. MoGillewie:
Tangline 25
Shangha
Bongbong Hongkong
Lt. Contr. R. K. O Pope
Hong
West R
Lt. Comdr. Stäkeman"
Hongko
Li, Comdr. Xlool rate LeCoudr. B. W. Beymour
R. ALTON and W. SYMONS, 4pentethics of education had all of recent Created that the portion of the world's. Snipe
130P
genes had their nay, the institute did Dot 'Reem to have listened latterly to any address out at economic subject, so per haps in this gene of grace economics might be allowed to have their turn.
THE HONGKONG ROPE MANUFACTURING Co., Ld. As with all his lack of learning he had
Established 1883
„MANUFACTÜRERS OF:
17
PURE Manila ROPE
STRAND
" to 15" CINCTEURSOR.
CABLE LAID
4 STRAND
5' to 15
CIRCUMFERENCIA
3 to 10 CIRCUMSRENCE
Oil Drilling Cables of any size up to 3,000 feet in length.
Prices, Samples and fall particulars will be forwarded on application to
Shewan Tomes & Co., General Managers.
Hongkong, April 11, 1812.
PRIZE
MEDAL
PHILADELPHIA EXHIBITION
JB7C
501
JOHN OAKEY & SONS
EMERY
WELLINGTON EM
ever had a fondness for černýmic specu Lation, he would incrwe venture though not without a certain trepidation, to diret their attention to an economia subject which in its practical aspect was interesting, to all of them, while on ita speculalive side it poswelled for the in- quiring mind the sttraction attaching to avery intricate puzzle,
EMERY & BLACK LEAD MILLS, LONDON,
EMERY GLASS BLACK CLOTH PAPER LEAD WELLINGTON KNIFE POLISH
JOHN CAKEY & SONS, LIMITED, WELLINGTON Milla," LONDON.
TO LET
TO LET
TROCKHURST, 1191, Plantation Gap,
D Pent! Sir kooms and Garden Unférnished: from middle of February to October.
Apply
DENNYS & BOWLEY. Hongkong, Nov. 12, 1913.
--TO IT.
1388
ANFURLY, No. 11, CONDUIT
BROAD
GODOWNS.
18, WANCHAI ROAD.
102, PRAYA EAST.
153; PRÄYA EAST...
THE HONGKONG LAND INVÉST.
-MENT & AGENCY Co., Lt
Hongkony, Oct. 29, 1913.
TO LET.
862
FOUR-BOOMED HOUSES in Granville Avenue and Salisbury Avenue, Kowloon, Cheap rentals,
SHOP with Godown attached, Naman BOAD, Kowloon.
Kowloon Marine Lot No. 48 with Wharf, HIGHLANDS," Kimberley Road, Books, Tennis Court, from
Kolour.
1st. December next, .* ...
A Furnished Flat in NAHAN ROAD,
Kowloon, from lat. January next.
Apply bo
at
BON TON.
JUST ARRI ED GOLD & SILVER EVENING SHOES Also in all Colored SATINS. All sizes.
UMPHREY'S ESTATE & FINANO EUROPEAN AGENCY.
Longrong. Oct. 22, 1915.
Jo....ID,
TO LET...
MEIRION, No. 9 & 10, Poak, un-
furnished, 6 Rooms. Cheap rental, from 1st December Newly Painted and Colourwachod.
ROGATE, Austin Road, Kowloon);" nafurnished, «
No: 68% Peak, MOUNT KELLETT (Church Mission Society Bungalow) from Int October 1913 til 90th May 1914, partly arnished, Cheap zent
FOR SALE OR TO LET. From 1st November 1915)
No 1 GOUGH HILL, No. 108 Pet Bungalow containing Drawing, Dining and Smoking Houms and are Bedrogima. With ground for Tennis Court."
output which became available na naku pital was larger every roar, was there Tamar not a corresponding and even more rapid. Teal mutiplication of the purpose, for whiels Thistle
pital was wanted? Now methods, new Triumph
Kusk
materials, new instruments of production were constantly being introduced, and they all clamoured for capital to help Virago them to develop themselves. Was it sur
Walland prising this there should not be enough Whiting to go round or that in their truple not Widgeon to be left out in the cold the various Woodcock applicants should send up the price of Woodlak that for which they were all competing? Tho creation of wealth, resulting from those triumphs of science was not all net 0.38 gain. The operation known as scrapping | 0.57
THE FUTURE BETLOOK.
Yarmouth
receiving ship rivet gunboat
rivor gunboai -battleship
submarize
submarine
aubmarine.
torpedo bost
torpedo bost
||
torpedo bost
"torpedo bost
L&-Comdr. J. Geimes
Là Damar, Honda
*Flagship of Vice Admiral T. H. M. Jerman, CB, Commander-in-Chief.
Name
THE INTENSITY OF COMPETITION. The subject to which he referred might bo. describrù...as „*.the_scrambli_for_es__}, häil_of_dato...¿vare_nasemod dimension | 0138. pital. The intensity of the competition quita Inecnedivabilo to former generations. varied very much" from time to time, Profitable no doubt is the long run, is .035 (and the outward and visible sign of a was in the first instance a pontly opera 036 heightened" intensity was a rigo in the tion, and the cost of it diminished pro 057 averago mte of interest, which was some tento" the amount of capital available be thing far more stable than the Bunk for other purposes at the time when it rate, and was subject to far fewer, slower was being, carried out.” They must also but far more lasting, changes. This in remember how vust and unprecedented vestment rate, as he might call it, was a domand had been, and was being, made higher in young countries in process of upon capital by the rapid development rapul developmout than in dd countries of so many new countries, and by the "of fully developed resources, higher in simultaneous awakening into great in- lawless, or turbulent commmities than❘dustrial activity of curtain old countries, where social order was stablo and the which had hitherto been agricultural, or reign of law assureď., But; broadly mainly agricultural, communities. Wheres speaking, the tendency of the rate of in- was all the money coming from to satisfy terest wige or fall made itself felt in those very düserving, but far too au- every class of weurity and all over the Ewen, suitors at one and the same world. There was some infinence at time? work of very slow operation but of im- pressiva universality. It was like the Gide, but the periods of ebb or flow were nes necessarily of equal though siways of considerable length. For several defore they again saw anything like that cides before the end of the last contury, "glut of capital of which it was once Desidée azi porhajs for a longer period, the tea-the fashion to speak, E conviction
ÅTZUN deney of the rate of interest on perma would not be shaker if presently the nent investmente. was to fall. Thee, long sustained boom in trade was Vigilante vory gradually at dat, but latterly with" | followed by "a depression, during which Paito increasing forse, an opposita tendancy capital was temporarily dle and appe- begab to manifest itself, and that tenently unwanted, and may labourers Dandard de Lagree dency, was clourly operativo all over the were also, in cœidquezse, sut of work. world to-day. It was perhaps possible What that would mean was not that more or lose to divize its causes. But it there was any real or permanent elecken. Ignx was beyond the wit of man to predicting in the demand for capital, but that Prates ita duration.
a temporary dislocation of our financial
+ Styr THE PRICE OF CONSOLE.
machinery bad rendered the demand in- When his former chief and kind friend effective. Gruet, indeed, was the resp. Tronde the late Lord Goschen "converted "sibility of those who, like the modern
I'berrille Consola in 1888, he was firmly oan vinoodkings of Anance, had is largely in their that by that masore he wie only reduc. power to decide into what channels the Pistolet ing the yield of Government stock pro streams of capital should flow,'
Mosquet portionately to the reduced yield of
Manche every form of capital. Capital all round, s ha segued, was bring obliged to co tent itself with a lower rate of recau
In time, on oubt, a change would come," but it would be a long while be
THE POSITION OF LANOTU He wished to any ono word to prevent what might be a grave misunderstand-
Foreign Men-of-war on the China and Japan Station.
Kaiserin Elisabeth
Fag and description.
Austro-Hungarian ersciner
Captaine
4000
Capt. Makorib
Last repent
Trocar
Duplex†
leber
French armoured cruiser 10,014 French armoured cruiser
30 20,000
0730
12 19,600
Capt. Davelay Chaph. Gouta
Honghoug
French gunboat
10
1300
Lieut. Vandier
fgoor
French river gunboat
180
-570
Lient. Dardot
French gunboat
500
16 de Jervillier
French gumboat
Lient. Collin
French gunboat
Taout. Dupuy Datemp
Flagship of Rear-Admiral Coiloch de Kerillis, Commander-in-Chini, the French China Station.
Banden veration, and it was only right that they es cot any of his hearers run away with the idea that what he had State should beneft, along with other said about the heightened demand for Godisonau borrowers, from that universed change capital, and the higher rates of remune tis His opinion was shared at the time by ration which capital could command, Jagunt the great majority"od financiers and men
meant that there were semonic infu- Leipzig of husiness, and many people in those ences at work: which were calculated to Lucha days talked quite freely of the coming depross the condition of labour.
The
Nutraburg of a time not so far distant when lave contracy was, he thought, the truth. Otter tors who looked for absoluta security The belghtened, demand for capital in- would have to bo octant with 2 per tvitably involved a heightened deathd Saharnhorst Even when the tide began to turn people for labour also. It meant un increase of 90 generally refused to see it and attributed productivity, a larger output, and, though Tak to all sorts of nonidestal and temporary capitalist and labourer (when the two Tiger cauw what they now saw to have boon did not happer, na was, of cIT, some Tangtau the beginnings of a slow but universal time the case, to be the same person), change. The difference in the price of might quarred over the proportion of their Consols from 00 ton yoses sgu to about several benefits, there was no reason why Calabria 7.to-day was enormous, but it was only both should not be botter eff at the semic typical of the complete transformation time. That indoed was what they migh Adamastor weng, reversing the course of things dur
soo overy day when industry was very Macho ing the previous forty yours, whicks had active. Profite no doubt rose, but there
Patrio come over the prosports and the slitudo
was a tendency for wages to rise also, of capital gezerally since the beginning though there was frequently, a dispute of the proscas contury. He did not ins to the extent to which that rise should dood maintain that the great fall in the so carried. And in the reverse caso pro prien of Console was no due, I som is and wages both toaded to fall, Thera measure, to influenced specially affecting might be antagonism of interest between 4-6 that stook and British Government stocks capitalist and labourey but the ides of AT
WHOLESALE buying Consumerly, Ondoyens per had
unterlaken for all British and Con- opinion woe that such influences had had tinental goods, including
Books and Stationery, Boots, Shoes and other Chemicals and Druggista Sundries, China, Earthenware and GlaeSWEIW.. Cycles, Motor, Onts and Aconssories, Drapery, Millinery and Pinos Croods," Goods and Ferforj Hardware, Machinery and Matale, Jewellery, Plate and Watches, Photographic and Iptical Goods, Provisions and Oilmen's Stores,
ata, etc.
Domandierón, 23% to 6% Trade Discourse cillosbed, fe g Sprial Quotations on Demand. Bample Quies from £10 üpsairža, Consignments of Prednica Bold on Accoran ti
WILLIAM ELSON & SONS
1814 LORDORZO,
LOSING WEIGHT BY THE POUND
Under Weight," a condition of ill-health, shows your assles. |Hative-powers are decreasing.
WATERBURY METABOLIZED COD LIVER OIL COMPOUND
an antagonism between capital and lab bour, between the materials and intru Bainbr rents of production and the human Barry
energy which was nevese to utilize them
so obvious absurdity,
(Cheers.)
SANFAMOUS FAMILY,
Another amadamie suooME, WER
the Batre family at Can
the
whấp of Capt. (Gotindore' Boucisat, Commanding sha local defepor Indo China
Freach sub-marine
Lieut. Boltiz
Balgom
French sub-marina
French armoured gunboat. French destroyer"
1798 10
1700 Lisad, Gulisums-Loniz
308 Lieut. Aurillac
French destroyer
Chpt; de Frigate Reaison-
French destenyerTM
-330.
300
Comdr. de Marquesar
French destroyer
200
French surroying ship
9000
Comdr. Voisin
Saigora Saig
German cruiser
99800 29 13,600
Capt v. Rest off
German armoured cruiser 11,800.
36. 26,000
German gunboat.
200
1800
MURT. 19
1500
Capteur Benninghaus Camdr. v. Gonren Comdr. Vananiow
Shang
Great gunboat
German craiser German river gunbost
5250. 24 14,000
500
8400
16 1330 25-13,200
German jagship
38 26:30)
6500
6000
O't... S. Clasamen
1260
Comdr. Bücker
1300
Capt. von Möller
5000b
S. Prin
German gunbost
German cruiser
German torpedo-bost German torpedo-boat German gunboat German rivar gunboat Jerman sirar gunbosă
Italian erniser
Partagere ariser Portuguese gunboat Portaguses gunboat
UNITED STATES VES
(U. S. mabezar
0.8.
1757
A
Capt. Behncke Comdr. Benderson Capt. Mätsberger Cape,Libut! Virle Capt. Bising
Capt. Lieut.' Bene
Comdr, Sammi Plosand!
Opt, Ambal de 8. Dias
Maso
Capt. Martina
Osptain José de Carvalho Crato
ATTACHED TO. ASTATIO, STATION,
Ensign *. Mo0. Martay
Tinat D. MoWharter