NET WEIGHT OF CONTENTS 173, 025
ALPS MILE
BERNESER
"BEAR"
PURI SWISS
WITZER
SMMENTIAL
BRAND
BEAR
Pure and Wholesome ' BRAND
No Better Milk Produced
BUILDS
More sold than other miks
BETTER
Because of its superiority
BABIES
DF CONTENTS UN S
Sole Agents for Hong Kong and South China A. B. MOULDER & CO., LTD. China Building,
Hong Kong.
G. FALCONER & CO., (HONG KONG) LTD. WATCHMAKERS & JEWELLERS DIAMOND MERCHANTS. Union Building (Opposite G.P.O.),
Agents for:-ADMIRALTY CHARTS, ROSS'S, BINOCULARS and TELESCOPES, KELVIN'S NAUTICAL INSTRUMENTS, ENGLISH SILVERWARE, direct from Manufacturers. High Clus. English Jewelery,
SKILLED WORK
IN
DRY CLEANING AND DYEING. INTRODUCTORY OPENING RATES.
GREAT REDUCTIONS
A1 FINISH
PROMPT SERVICE
NEW DEPOT
82, Wyndham Street, (Glenealy Building).
SUN HOW WAH CO.
華 巧
DRY-CLEANERS AND DYERS
Established 1913.
495, Nathan Read (Yaumati). Tel, K. 821.
232, Des Voeux Road C. T. C.5787.
75, Queen's Road C. 32, Wyndham Street.
Ho Tung Bldg., Queen's Road C.
+
CHY LOONG.
NEW SEASON PRESERVED GINGER.
Best qualityPrompt attention to Exporters.
Office:-231, Queen's Road Central, 2nd floor. Tel Central 2539.
Factory:-500-504, Canton Road, Yaunati.
Tel, K. 849.
Hawaii Sunshine
cooled by trade breezes, makes Kawail the ideal year around tropical playground. Every month is lovely: Fragrant blossoms and lunar rainbown are as plentiful as hula skirts and ukuleles. Fiorering trees in spring. Cool in summer!
-HAWAII-
INVEST IN ROMANCE by purchasing a ticket to the Paradise of the Pacific for your vacation this summer. Coral beaches, volcanic wonderlands, lawailan wèzenaders, and a dozen tropical golf courses are waiting for you.. Round-the-world tourists, and travellers bound for America, should arrange for a step- over in Hewall to provide a wolesme break in the journey. -HAWAH—
You'31 want to stay long though to visit. come of the other islands: Hawali, Maui and Kaual. Your steamship.. alice or travel agency will help you book a Hawall Lissco, Matson, Canadian- Australasian, Doller, Sand NY.K. Linou provide frequent” sallings to Portland and Beattle, Vancouver, Sini Frite chro ar, Los Angeles; rpm. Honolulu. You can stay a few days, or a few weekɑ, is "you--
like.
HAWAIL
For otir, coloured booklets' and travel pamphlets
dip this advertisement and send it to die
HAWAIL TOURIST
*BUREAU
THE CHINA MAHL,
STAMP ORDINANCE
CHAMBER AND AMENDMENT BILL
COMMITTEE'S OPINION
In the annual report of the General Chamber of Commerti
we read:
A draft Bill to amend the Stamp Ordinance of 1921 was published in, the "Gazette" of November 1, 1928, the object of the Bill, a stated in objects and being, to prevent the evasion of estate and stamp duties by provid
reasons,
ing that transfer of shares shall contain the true date of execution by the transferor and that regis
be shell tration of transfers effected "promptly. Provision is made for the payment of late re gistration duty and for payment
of a nominal duty of $2 in the cus
commodity. Speculation CHINESE: LANGUAGE
takes place in many other things besides stocks and shares, and one can. In- stance, the great amount of speculation which takes place here and elsewhere when times are opportune in various commodities:
WORK OF HON, DR. KOTEWALL
CHAMBER'S TRIBUTE
At the end of 1927 (states the re-
THURSDAY MARCH
Last Few Nights! Last Few Nights!! POSITIVELY LAST --PERFORMANCE
SUNDAY, 16th
16th March.
HARMSTON'S CIRCUS
and
ROYAL MENAGERIE
and also in the currencies Port of the General Chamber of of foreign countries, Commerce) the Hon. Dr. R. H. soundness of this view-la Kotowall, C.M.G., wrote. tenderlag borne out by the fact his resignation as honorary in- that none of the world's dependent examiner to the Cham
bar's Chinese Language Schooli big stock exchanges are governed by legislation stating that his decision, which was necessitated by increasing pressure but by rules made binding of public and private affairs, was A SPECIAL GRAND GALA PERFORMANCE by them upon their men come to with considerable regret bers and very rigidly en
forced in order that the as the work he had been doing in reputation of the particu. connection with the School since lar exchange may be up- April 1921, had been a labour of The Chamber replied that Jove. held."
Dr. Kotewall's letter of resignation Bankers v. Brokers
It is interesting to note that six had been received by the Committee
of transfers to or by authorld of the eight-signatories of this re-with very great regret The were years in the capacity of honorary bankere, where the transfer is export were not brokers, and that two special services rendered for several euted by way of security for of those six signatories loan, and in the case of transfers bankers, one being Mr. A. Hexaminer had been much valued and Barlow, the then Chief Manager would with difficulty be replaced. to authorised dealers.
community were greatly in Dr. The Chamber on December 11, of the Hong Kong and Shanghal The Committee and the commercial Mr. Wong Tak- cpmmunicated to the Government Bank.
(d) Shareholders will be de- Kotewall's debt. the opinion of the Committee that
prived of their rights to vote kwong kindly undertook to act as the Bill, as drafted, would not sve-
where shares are hypothe- honorary Independent Chinese ex- to Dr. ceed in accomplishing its objects.
cabed and registered in the aminer In Bucecesalon questioning whether evasion of
name of the Bank's nominee Kotewall, and Mr. K. S. Morrison, member of the Chinese duties was of a sufficiently series
as required by the Bill. Ata nature
restrictions to warrant
the same time Companies Language School Sub-committee, being placed on legitimate invest-
would be unable to obtain a has been good enough to accept the ments by the general public.
representative attendance of appointment of honorary associate
examiner. shareholders at meetings.
Letter to Government
·
The Government replied on De- cember 15, 1928, asking for the more detailed comments of the Committee and on February 4, 1929, the Chamber addressed the following letter to the Govern ment:-
"It. was hoped that the 'may difficulties' mentioned by the Attorney General in 1921 when ex- plaining the Stamp Bill to the Council, which were aufficient lo warrant abandonment of Claus: 29 dealing with late registration- which difficulties still exist would. have been fully appreciated in connection with the present Bill, and that no further detalled ex- planation would have been called for.
"The Government has had an of considering the opportunity petition prepared by Messrs. Lo and Le, on behalf, principally, of the Stock Exchange and Shire- brokers' Association. The Com- mittee will not therefore go wer the same ground in detail, remark- ing, in passing, that the Stock and Share Brokers, are not member of the Chamber of Commerce, and the Committee assumes that the Gov- érnment looks to the Chamber for an expression of the view of the! mercantile and investing coun- munity.
"The Committee desires to men- tlon, inter alic, the following points which appear to make the Bill in its present form impratic- able and objectionable.
Erasions
"The 'Objects and Reasont' of the Bill as stated by the. Attorney General are to prevent (1) The evasion of Estate Duty, (2) Eva- sion of Stamp Duty.
As to (1), evasion of Estate Duty; it is submitted:-
(a) That the jaw if amended as proposed would give the Government very little addi- tional power, and for that reason is unlikely to achieve the object sought.
(b) It is obviously unfal to legislate against the whole Investing community in the endeavour to prevent the evasion of estate. dutles. by a few. It is suggested that powers to deal with this are already given in the Estate Duty Ordinances, 1916, Sec- tion 10 (penalties for inter- meddling), and should this clause have proved in praċ- tice to be inadequate poa-! sibly it could be strengthen ed.
"As to (2) evasion of Stamp Duty, as already recalled,
(a) difficulties were admitted by
the 'Attorney, General in the debate on the Stamp Crain- ance of: 1921, regarding Clause 29 dealing with late registration duty. The
elause was definitely than- doned. The Attorney Gen-
eral stated that
"On the whole the best thing will be not to intro- duce that duty but to accept the auggestion made by the Stockbrokers Anadstation to increase the stamp duty on share contract nofes" insted.": (b) It is also on record that the
late. Bir. A. G. Stephes pro nounced his definite opinion that the clause wit un- workable and had been wise-
abandoned.
R
report of the Stocks and Tres Commission: -1925
: Sessions Duplicated
(e) The effect will be to make
A new class for beginners.com- the share registers of Com panies purely fictitious; in menced in May, 1928, and the re- addition to causing a great sponse from the younger members deal of clerical labour and of business stalls was such that the delay in dealing with trans-sessions had to be duplicated, half the new students meeting at 6.18 fers. (f) The Bill will tend severely p.m. and the other half at 6.15 p.m. to restrict dealing in any on three evenings a week. In ad- shares having a liability, as dition the students work for no bank will consent to hour on five days a week with an transfer such share scrip individual. teacher, for the purpose Into the name of the bank's of conversational practice). The nominee, This, would ap-advanced class reached the end of ply, even to sharea of the its course in January, 1929, and highest standing and would another beginners' class was formed affect many of the leading carly in February, also with an companies.
an
!!!
Situated at MONGKOK (KOWLOON)
Near Lät-CheKok Road
Will Be given In Ald of
THE TUNG WAH HOSPITAL on SATURDAY, 16th March, at 9.15 p.m.
When 50% of the Gross Takings
will be given to the above Institution
The Following Gentlemen Have Kindly Consented to be Patrons on This Occasion.
}
The Hon. Mr. R. A. C. North, Secretary for Chinese
Affairs.
The Hon. Sir Shou-som Chow, Kt.
The Hon. Dr. RH. Kotewall, C.M.G..
The Hon. Dr. S. W. T80, OBE.
Sir Robert Ho Tung, Kt.
And The Directors of THE TUNG WAH HOSPITAL.
PRICES AS USUAL
Booking and Plan at Moutrie's.
· Buses and -Taxis-Pass the Circus Tent
Last Ferry To Hong Kong 12-45 mm.
"SHOWING AGAIN AT THE QUEEN'S!
*
FRAN
RORZAGE'S
STREET VANGEL
WILLIAM FOX
with
PRESENTATION
desa midwa
JANET, GAYNOR, CHARLES FARRELL,
enrolment large enough: to justify TUESDAY NEXT
(g) The legislation savours of conducting the classes in duplicate,
partiality in that the $2,00
stamp facility is restricted to
a list of authorised banke.
In many instances shares are
ACTRESS KILLED
SCENERY
deposited with persons and STRUCK BY FALLING STAGE institutions other than' Banka as security for trans- actions in the ordinary
Miss Gladys Francis, aged 28, course of trade.
the principal boy in the pantomime, (b) Share transfers
"The Forty Thieves," at the Grand sidered to be "maveable property under Section 3 Theatre, Brighton, died in hospital (16), Definitions contained recently. She lived at Brixton, S.W. S.W.
are
con-
in the Stamp Ordinance, While Miss Francis was on the
1921 (No. 8 of 1921).
Was
(1) In the 1921 debate attention stage at the end of a matinee, a called to the risk of piece of scenery fell, on her. She driving capital away from made light of her injury, but on the Hong Kong, and it is sub- following day a doctor ordered her An. X-ray mitted that the present removal to hospital. amending Bill tends in this examination showed that she had injured her spine, and an operation direction, especially as it re- Introduces proposals then was necessary. condemned and abandoned.
Her place was taken by Miss Vera McLean, a 17-years-old Brigh-
It is unreasonable for the Hong Kong legislature to in- ton irl. troduce measures which will place Hong Kong at a dis- advantage as compared with difficult to suggest constructive neighbouring ports, particu-measures that would assist the Gov larly Shanghai, where trans-ernment in achieving its objects fer deeds require no stamp on the lines of the proposed legis whatever. *
lation.
(3) In the Chamber's latter of
"On reflection, it 'will be realised December 11 it was men that in practice, under the existing tioned that the proposed le regulations, the Investor who has gislation would tend to en-shares transferred pays a compara- courage forward business tively high tax, which in many in- and the opportunity is taken stances the speculator avoids, and of further stressing this
It is thought that this creates a point as stock exchange somewhat undesirable and anomal-
ous state of affairs,
transactions have now, after
a very difficult period, been "The Committee ventures to sug
placed almost entirely on, a
cash basis, and it would be gest that the transfer Stamp Duty regrettable to introduce any be abolished, but, that the amount of transfer Stamp Duty be added legislation which would have
Destructive Criticism "The Committee realises that the foregoing criticism is entirely of destructive nature, but inde. it
a
a retrogride effect in this on to the contract Stamp Duty, save that the seller be not required to respect.
pay contract Stamp Duty. The re sult would be that, on every pur chaas of shares, the purchaser would Pay, the transfer Stamp Duty, and his contract Stamp Duty, the Gov- ermnent relinquishing the seller's contract Stamp Duty, which is small in amount.-
"The Committee is somewhat diffident in putting forward a sugá gestion on the above lines lest it be misconstrued into a recommendation to add to the present taxes, and on that account wishes to emphasise the fact that the Colony is slowly recovering from the severe setback of 1925 and is in no way prepared · to face additional taxation, which would tend to discourage the free flow of capital into the Colony to finance local undertakings and In- dustries
Government
It le desired, to take this oppor tunity of recommendin that, if the Suggestion of this estimated that an would, resnit
contained letter and
increas
FOR ONE
TUESDAY NEXT DAY ONLY.
COUGH LINCTUS
A
a sure cure for your bad cough.
COD LIVER OIL.
Cod Liver Oil and Malt Extract,
Queenspensary
LYPTROL
DISINFECTANT.
oras 124 Des Voeux Road Central
LYPTROL
Stronger than Carbolle yet non- poisonous, non-corrosive. Delici- ously fragrant.
الف
The only really safe DIS INFECTANT whore there are
children,
G
Obtainable at all Dispensaries
Sola Agents:-
LYEN BROTHERS,
'Phone C. 3315.
China Bldgs.
Cassis Rouvière
THE OLDEST EXPORT TRADE MARK - DIJON
K. M. A.
CERAMIC & REFRACTORY PRODUCTS
CLINKER,
PAVING,
"BUILD
& FIRE
STONE-
WARE
PIPES &
GLAZED
TILES
ON