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LAMMERT BROS.
AUCTIONERES, APPRAISERS AND SURVEYORS.
Public Auctions-
By Order of the Mortgagees
MESSES. intructions to sell ESSRS. LAMMERT BROTHERS
by Public Auction
OT
WEDNESDAY,
the 9th day of June, 1920. at 3 o'clock in the alternoon, at their alesroom in Daddell Street, Victoria, Hong Kong
THE VALUABLE LEASEHOLD PROPERTY
otate at Cheung Sha Wan in New Kowloon and registered in the District Land Office as THE. REMAINING PORTION OF LOT 916 THE RE- MAINING PORTION OF LOT 918. LOT-921 and SECTION A OF LOT 922, in Survey District No.-4.
"IN ONE LOT.
The property is known as the "Kai Garden and comprises well laid "ort flower and regetable gardens and s ravilion with residential quarters ad- joning thereto, all artistically designed ia the Chinese style. Is area is about 21,000 sq. ft.
For farther particulars and conditions
of inle, apply to
MESSES, DEACON LOOKER
DEACON & HARSTON,
..1, Des Voeux Road Central, Vendors Solicitors,
or to
•MESSES, LAMMERT BROTHERS.
The Auctioneers.
Hongkong, May 22, 1993.
Minstructed to sell
MESSRS LAMMERT BROS. are
The Steamship
"JEHANGIR
Now lying in the Harbour of Hongkong, under an
Order of the Court
ST
PUBLIC AUCTION
Un
MONDAY,
the 25th day of June, 1920, at 3 o'clock r.K.
IN ONE LOT
At theiz Auction Rooms, in Duddell Street
The ship is a British ship registered *t Hongkong of 520 tons Gross and of 3360.71 Registered tonnage and was built by W. Denny and Brothers, Dumbarton.
For particulars to view apply to Weeers. Lammert Bros., the Auctioneers.
For further particolars
Apply to
Messus. JOHNSON, "STOKES
& MASTER, Prince's Building,
or to
Mrs. LAMMERT BROS,
The Auctioneers..
Daddell Street.
FOR SALE.
One Complete Set of 25 Volumes
ENCYCLOPAEDIA BRITANNICA
(Never been used).
Apply
LAMMERT BROS., Auctioneers.
MUMEY A.
Japanese Photographers. All kinds of Photographic Work done In latest styles also Fassport Photos
Developing and Printing for Amateur & Speciality.
No. 84, Queens Road Central Te, 256
HOW-TO AVOID INFANTILE
AILMENTS.
When there are diseases prevalent in the season, it is the most dangerous to Infants and so Great Care must be taken in feeding them with proper Lood otherwise they would give their Mothers & lot of trouble. To arvid the trouble is to feed them with PAC TOGEN which resembles human milk It is easily digested and promotes healthy appetite. It keeps the Infants briving and free from all Infantile
Ailments.
孖素廠牛奶
總代理泰
BHIU FUNG TAI & CO.,
--Bola Apetite fợc Mungtong and South China.
Telephone Mon 1285.
Hongkong
INTIMATIONS.
WE HAVE
Just received
A New Supply of WAR and ARMISTICE STAMPS.
Many varieties and values" of
NEW EUROPE also
CATALOGUES and ALBUMS
for male.
GRACA & 00, No. 10, Wyndham Street,
Hongkong.
P. O. Bax $20.
JAPANESE MAKERS,
Every kind of Footwear
MADE
TO
ORDER
CHERRY & VUK
LIEDER STREKT, ppal & Hongkong Howl. Telephone No. 481.
Hongkong, March 21, 1914.
THR NEW FRENCH PENEDY.
THERAPION NOP THERAPION NO.2 THERAPION N3
28. 12: Andeer cazartă. No. 2 for Blond Foa platas, Xe I terrazio WalkzemAR NOLD BY LEADING CHEMENTS FERRIN ENGLANDU
-STANT UNITED ...
THE CLEANING OF SUMMER FROCKS
is an important matter and we make a speciality of "refinishing" light Frocks and Costumes so that they keep clean longer than when treated by ordinary methods.
Our processes are thorough and reliable. Our facilities and re- sources enable us to carry cas ■!! work quickly and our charges e:6 really, reasonable. Write for Price List and See!
The Diamond Dyeing and Drying Company. Agent
CASSUM AHMED.
Draper.
32, 24, Wellington Street 2. Nathan Road, Kowloon, rhone 1482
ASAHI BEER
PILSENER BEER
GRAND PRIZ
ASAHI
LAGER
SPECIALY
EWERY
BE
EXPOR
COMP
PLENER BEEL
ASAHI
COMP
SOLE"AGENTE ? 'MITSUI BULAAN SAIBELL.
The
THE CHINA MAIL,
"Three Castles"
Virginia Cigarettes
MAGNUMS
KASKUMS
Castles
Cigarettes
örstal & Lendon
It's the same sweet Three Castles Virginia Cigarette you have always smoked, made in a larger size."
Ask for the
Magnum size
"The larger
Cigarette with
a Pedigree"
This Advertisement la sued by British-American Tobacco Co. (Okíza) Ltd.
IIIIIIIIIIII
THE DEFLATION OF THE approximately neutralising the other,money is being manufactured without
CURRENCY.
VIEWS OF A BANKER,
The monthly review issued by Bar- clay's Bank, which is under the editorship of Mr. B. J. Foster, has an excellent article in its April number on the question of the deflation of the currency.
The tonal debt which, at the date when the currency note fiduciary limit was fixed, stood at £8,072,000,000 is Of this re: now £7,904,000,000. duction, Treasury Bills account for
as ideally, it should, both factors tend to increase the demand for credit and so to make deflation more difficult.
It is to be hoped that prices will fall, otherwise monetary conditions must become more and more stringent.
because, with an unyielding and arti- tracy fiduciary timit, there is no elas uicity in the ability to meet the indus trial demand to credit. For a time, credit can be expanded by means of advances obtained from the Bank of England, but whether these are made to the Government via "Ways and Means or to the public via "Other Securities." their effect is to force more notes into circulation; this re-
restriction, but that it extends to countries-such as the United States ---whose economic positions are sound and
whose wealth- has grown The enoriously since the war.
paper money" countries compete for goods and force, up prices all over the world, so that even countries with so called "gold prices" are really suffering from the effects of European inflation-effects which do not keep them from buying because of their great wealth. The competition is amongst the buyers-It is one. sided, and people, possessing com. modities for sale can largely fix their own price.
The price question is largely a
SAT JEDAY, JUNE 5, 1820.
NOTICES.
G. FALCONER & CO., LTD.
WATCHMAKERS & JEWELLERS.
Hotel Mansions.
Agenta for :—ADMIRALTY CHARTS,
ROSS'S BINOCULARS and TELESCOPES, KELVIN'S NAUTICAL INSTRUMENTS, BENSON'S ENGLISH-WATCHES,
ENGLISH SILVERWARE, direct from Manufacturers, High Class English Jewellery,
HEALTH against
SIOKNESS.
By taking our "ROOSTER BRAND MACARONI, PASTE STARS, EGG-KOODLES, VERMICELLI, or other kinds of Soup Stuffs REGULARLY you will have so complaint of any kind of sickness, as all our Products being manufactured from Flour of the Best Quality and under the most Sanitary Method can be easily digested and give you GOOD HEALTH & STRENGTH.
Large quantities have been exported to various parts of the World. Your esteemed Orders will receive our prompt and careful attention. Terma moderate, especially for Agencies.
TRADE MARK.
y...
THE HING WAH PASTE MFG, CO., LTD. HEAD OTTICK: Honghoog, Nos. &, Connaughi Hond Central, Tel. No. 2330. BEANCH OFFICE: Shanghai Nos 430 & 431, Nanking Road. FACTORIES: Hongkong, Wing Hing Street, Causeway Bay and Shanghai, No. 71, North Soochow Road
JUST ARRIVED
Ladies' Trimmed and Untrimmed HATS for Summer
- Latest 'Style.
TELEPHONE 2463:
Prices to suit all purses. POROOMULL BROS.
36, QUEEN'S ROAD CISTELL
HOTELS AND CAFES.
THE HONGKONG HOTEL CO., LTD.
OPERATING:—
THE HONGKONG HOTEL, HOTEL MANSIONS,
THE REPULSE BAY HOTEL,
J. H. TAGGART,
MAYAGEL
THE PEAK HOTEL.
1,500 Feet above Sea Level,
15 Minutes from Landing Stage. Under the Management of-
Mrg. BLAIR.
KING EDWARD HOTEL
CENTRAL LOCATION-
62,000,000 and Ways and Means sults in a nearer approach to the maxi-{ "world" question, and there is thus ELECTRIC TRAMS Pain Knivanos, Electric Lifta, Fana and Lighting
Advances for £52,000,000. During mun fiduciary issue, which maximum a limit to the extent to which defla- the same period outstanding currency sets a link to the extent to which tion and price reduction in this notes have
reduced
by credit can be created, except against country can be effected by our own
Moreover, the need of the efforts. We have done our part £22,000,000, while Bank of England | gold.
been
notes in circulation have increased by moment, in as far as is practicable, possibly more than our part-and it £11,000.000.
is to deflate-to keep as far below the is for the "printing press" countries maximum as possible and to get back to gold prices.
of
to help the general position to help
us to help them by imposing drastic taxation and restricting their note issces
Against a. debt reduction £168,000,000 there has been, there-
Apart from the question of prices. fore,
decrease in the total notes (Bank of England and Currency) in every effort should be made to avoid
unnecessary expansion, by economy It is hopeless for us to think that, circulation of £11,000,000.
Debt reduction should tend to de- in Governmental and private expendi by deflating credit and improving flate Bank deposits and Currency ture, by turning over each unit of cre- our exchanges, we can do more than Notes, but so long as the maximum dit as often and as quickly as possible help to bring down prices until in fiduciary issue is not reduced, it is better transport facilities would be ternational action has resulted in the possible for further credit to be created helpful here by the banks dis- world position as betweeen buyer and and, in consequence, for the total of Criminating between essential and non-seller being equated. This equation Bank deposits and the issue of Cur-essential loans. This the banks are may be brought about by increased rency Notes to be restored to their coing but unless prices fall, it will production and reduced consumption. former level. It may be assumed be necessary for them to use even Increased production on an adequate more drastic discrimination-in grant scale will result when the whole world ther debt redemption will proceed at in accommodation, and even so, de begins to get back, to work. Apartį an even greater rate during the com- spite every effort to economise credit, from the question of general ing financial year, and it is to be hoped the alternative may ultimately lie be demand may also result from the deflation and Economy, reduced that industrial, conditions will not between prejudicing production and adverse exchange countries being such as will cause the resulting de-
unable to obtain the credits necessary flation to be temporarily negatived by broadening the basis of credit.
to enable them to continue importing Obviously, the ideal solution would except against equivalent exports; meet the needs of trade. Every effort be provided by gradually falling prices, this however, would be in the nature should be made to prevent this, but but instead of falling, prices have of a disaster, for it would set back beyond a certain point deflation car risen, and certain of the causes re- the reconstruction of Europe for not be forced without grave danger to the financial and industrial structure, sponsible for this movement are out-years. Nevertheless, such a result and it must be recognised that rapid side our control. The index number may become inevitable, unless the for December last week was 334.7, countries concerned impose drastic deßation is impossible.
while that for February, 1920, was taxation and restrict their issues of The position is a very difficult one. 370.9. The reason for this increase paper money. It is here that in and its solution demands, the exercise is rather obscure and difficult to locate ternational action on the basis of of a well-balanced judgement. It s necessary to hit a happy medium, for with certainty, but one primary factor the Memorial suggesting an Interna to err on either side is to retard the is found in the competition of foreign tional conference--would be in- in that it would return to normal conditions. Carried buyers, who anach more importance valuable.
the creation of additional credit to
THE PRINTING PRESS.
be ΣΟΥ
against given to extremity, a policy of inflation to obtaining goods than they do to the emphasise the fact that credit would ultimately reduce to vanishing Price they pay for them. In other could point the value of the pound, white words, so long 85-coincident with a the currencies of those countries who The other extreme--a too drastic de great shortage of commodities--the are hourly and daily engaged in de fiation would kill production and new printing presses of some Continental Declaring them by ove-issue, or for other purposes than the provision of countries continue to turn out notes
essentials. enterprise..
without limit, the principal anxiety of their traders will be-to obtain goods: "If, for the reasons given, all efforts the number of pounds, they have to adequately to reduce prices and so
In considering the question of de- fiation, the level of prices is a vitally important factor, for obviously, fall- ing prices enable a greater volume of pay for them, or, the number of units compel a given, volume of credit to of currency charged for each pound do more work, should prove abortive business to be financed on the same, or on a smaller volume of credit. At smelt: importance, because the great credit necessary to industry dad fiest becomes a matter of comparatively as they quite well may-it will be come necessary to consider how the the present time, with trade expand increase in the volume of paper mone: be created. The alternative would ing and prices rising simultaneously, more credit is required for each unit makes people careless as to prices. be to restrict output at a time whep, of production because of its increased. If bee also to be remembered that more than ever before, increased pro- cost, and more credit is required-by this attitude is not confined to those duction is necessary, and unemploy trade as a whole because of its greater countries to whom cost is a matter ment undesirable. volume. Instead of one movement of secondary importance, while paper
AContinued on Page 8.)
Europeas Baths and Sanitary Fittings, Hot and Cold Water Eystem throughout Best of Food and Service.
Telephons 373. Talagraphic Addrem :— VICTORIA."
J. WITCHELL, Manager.
PALACE HOTEL
2527 KOWLOON.
Ce mtnutes from Star Ferry).
Recently renovated and refurnished, electric light and fant throughout and entirely-unier new management. Callos under the personal supervision of the proprietor, Bar and Billiard Box. Tarma modarate. Epecial terms to families on appllation to
Telephone K. & Telegraphic Add: "PALAUE"
J. H OXBERRY, Proprietor.
CARLTON HOTEL.
(TÁR OKEY AMERIČAN HOTEL IN WIN DOLAIT.)- ICE HOUSE STREET.
Under American Management Mice and quiet you only a few minutes wale from the Banks and Central District. 43 Bedrooms, Excellent Cuisine, scrupulously clown Moderate Terms. Monthly and Family Bates on application to the Proprietzees. Launches meet Passenger Boate.
Max. F. E. CAMERON. Telegraphie Address "CARLTON."
BLUE BIRD IUR ORNAM PARLOUR
AND CONTEUMOKERS
401
CHOCOLATIS Plain Sweet Tambia Chocolater
Home-MadelAmorisa ChicoZAINS
Hartley's Martle's, and Bordes
California “ Eka » Chacalami
American Choontaber, KL Að par 194 DOGO & Imperial Cocos, nah0 (5) për Į *Calvardeśli Scnskart Corse
3 eta por -
Tel. No. 3025
Candies Ices
Soda.
BOSTON CANDY STORE OPPOSITE THE ROYAL THEATRE.
CALL BETWEEN ACTS. ĮTELEPHONE ORDERS -FILLED.
12 Queen's Rd.O,
Cigars mad Cigaretten
TANG TUK Daviser,
the late SIEN TING
HMS VEET MODERATE
f
FRENCH LESSONS
G. MOUSSION. Morrison MH KARA