THURSDAY, OCTOBER 24, 1929.
Phone C. 22
FOR
CLASSIFIED ADVERTISING
-
Twenty-five Words three inser. tiann prepaid $1. Every addi- tlonal word four cents for three Insertions.
All replies under this heading u be called for.
TUITION
SPECIAL PHYSICAL CULTURE CLASS,
MME. BARONELLI, ARTISTE. Special attention given to stuut and stiff ladies who desire to regain their youthful figure. School of Dancing for Children and Adhalta. 24, Ashley Rond, Back of Star Theatre (ground floor), Kowloon,
HOME TUITION.
WESTOVER-STEVENAGE.
[
Within
An hour from London. In healthy Deighbourhood. SCHOOL for GIRLS
SMALL BOYS. A few Boarders received in the House of the Principal. Individual care and attention.
Particulars apply to:
MISS RUTH CULLEY
For
(Camb. Higher Local). Gamb. Tencliers' Diplonis)." MISS GERTRUDE TURNER
(National Frodel Higher Certificate).
MISCELLANEOUS
TOUR VISITING CARDS reatly and promptly printed."China Mall" Office, No. 34. Wyndham St, Telephone Cen-
tri 22.
TANG YUK, DENTIST Successor to
the late SIEN TING, 14. D'Aguilar Street,
TERMS VERY MODERATE Consulation Free.
NOTICE
TO SHIPOWNERS,
MASTERS & AGENTS.
The Yuen Wo Seamen's
men
Institute always has ́available to ship as watch-
men, seamen, &c.
Our men are employed by the leading passenger lines. We guarantee satis- faction.
Please phone or call:- K.661 - No. 2. Saigon Street. Yaumati or
C.2560 - No. 36, Tung Man Street,
REALISTIC
The realistle Method is al- together now a new way of winding the hair, from the ends toward the scalpɑ new wave softer, smoother and mere natural
Arrange TO-DAY to have your Realistic Permanent Wave or Reware.
YAYOI BEAUTY PARLOUR 20. Wyndham Street.
PHOTO-SUPPLIES
Kodaks and Cameras. Films, Plates and Papers, etc. Developing, Printing and Enlarging. ZIESS and BUSCH FIELD GLASSES
Price Moderate.
A. Trial Order to Solicited.
A. SEK & CO.
Tel. No. C. 3459. 26A, Des Voeux Road C., Hong Kong.
SPORTING
GUNS AND ACCESSORIES.
GUNS: Greener,
Webley
Scotts, B.8.A., J. W. Needham & Raick Freres-Air Rifles-Revol vers B & W.--Ride Accessories Aperture Sights Sporting quisites Cartridges. "to" mult all bores.
ro"
THE HONG KONG SPORTING ARMS & AMMUNITION STORE Bad, Beaconsfield "Arcade.
LAMMERT BROS.
AUCTIONEERS, APPRAIBERS
AND BURVEYORS.
– Public Auctions –
THE Undersigned have received
Tinstruccions to sell by Public
Auction
ON FRIDAY, October 25, 1929, commenting at 5.15 p.m. nt their Sales Room, Duddell Street.
A Valuable Collection of POSTAGE STAMPS On View from Thursday, ber 24, 1929.
NOTICES.
TSLEETING
THE CHINA MAIL,
STAMP ORDINANCE
(Continued From Page 2)
have perused the C.S.O. files in con- section with this matter and the
posed Ordinance. I have discussed petition in opposition to the pro-
HONG KONG JOCKEY CLUB
THE SEVENTII EXTRA RACE
(e) It has been urged by some that will be hald secrecy of holding and dealing would (weather permitting) at Happy be impaired. VALLEY ON SATURDAY, 26th because at present transfer duty is (1) New taxation would be imposed October, 1929, commencing at payable only when a transfer instru- the proposals with the Committee ment is executed, and there is no of the Hong Kong General Cham- obligation to execute à transfer her of Commerce and with a num-
p.m.
The first bell will be rung at 1.30 p.m.
Members are advised that they must show their Badges to obtain Octo-admission to the Members' Enelo-
Catalogues will be issued, Terms: Cash on Delivery.
LAMMERT BROS.,
Auctioneers. Hong Kong. October 19, 1929.
HE Undersigned have received
sure.
་
|
(5)
instrument, on every sale. possibly drive capital out of the
This additional taxation would her of brokers and others.
I have had a joint conference Colony.
with the Honourable Colonial Treasurer and the Honourable Sir Henry Pollack, and at such confer- ence it was arranged that I should
and
I have three objects in mind:- (a) That the Government should re- celve ita fair measure of stamp duty on each share transaction, by which I mean, each purchase of shares in the Colony.
The charge for admission to the Public Enclosure will be $1 for all persons including Ladles. (h) It would also tend to produce Soldiers and Sailors in uniform less virile market, and a virile hal price.
market is desirable that capital may be moved between trade share investment according as trade | draw up a Memorandum on the sub- requires capital or is slack." It is also ject. desirable because leans on shares are A means of financing trade.
(1) A reasonable revenue on ahure transactions is collected at present. For example, on a contract of just over $10,000, which is probably a sum frequently dealt in, the ratio between the share contract note stamp duty and the shore transfer stamp duty is as much as 50 per cent, thus:- Transfer duty on $10,050 at 20
$20 cents per $100 admission for
Contract duty......
the adoption of this proposal.
IV
Each member has the right to introduce 2 non-members to the Members Enelosure, tickets for whom can be obtained from Messrs. Linstead & Davis at $5 each up to Friday, 25th October. 1929.
The charge for
Tinstructions to all by Fable Ladies to the Members' Enclosure Centres (8) duty. 810
Auction
ON
SATURDAY, October 26, 1929, commencing at 11 am..
at No. 8, Knutsford Terrace, Ground Floor, Kowloon
A Quantity of VALUABLE HOUSEHOLD
FURNITURE. (Catalogues will be Issued.)
will be $2.
Each member can obtain upon application to the Secretary Badges for admission of 2 Ladies free of charge.
Meeting.
On View from Friday, October EITHER ENCLOSURE ON ANY
25. 1929.
Terms: Cash on Delivery.
LAMMERT BROS.,
Auctioneers. Hong Kong, October 19, 1929.
THE Undersigned have received! THE Undersigned have receive
Auction
ON
SATURDAY, October 26, 1929, commencing at 10 am.
at No. 8. Almai Villas (Kowloon). A Quantity of
VALUABLE HOUSEHOLD
FURNITURE
(Catalogues will be issued). On View from Friday, October 125, 1929.
Terms: Cash on Delivery.
LAMMERT BROS.,
Auctioneers. Hong Kong, October 22, 1929.
THE Undersigned have received
THE
instructions fram J. H. Donnithorne, Esqa to sell Public Auction
ON
MONDAY, October 28, 1929, commencing at 2.30 p.m.
Dy
at China Light & Power Co., Ltd.
Residential Quarter,, Hok Un..
A Quantity of
VALUABLE HOUSEHOLD
FURNITURE,
Comprising:-
PRETEXT.
Hong Kong, October 19, 1929.
D
24.
PUBLIC AUCTION.
ARTICULARS & CONDITIONS of the Sule by Public Auction to be held on MONDAY,
the
PA
at
Wong Nei Chung, in the Colony of Hong Kong, for a term of 5 years, with the option of renewal at a Crown Rest to be fixed by the Surveyor of His Majesty the King, for one further-term of 75 years.
PARTICULARS OF THE LOT.
East of Inland Lot
G.
Semkatzensent
K
B. Pa
It.
About
*** Ansund Bensal
As per palofpian. 4,302
R.
of
stamps.
is
I
(b) That the Government should re- ceive its fair measure of death duties, and
(e) That it is for the general bene- fit of the Colony that the speculator be not preferred to the genuine in- vestor, in other words, purchases for
a rise in the market, most of which
same
transaction.
дз
an
"BATTERSBY"
We are now showing our new stocks of
GENTLEMEN'S HATS
"J.T. HARDEMAN"
“G. CAMBIAGHI »
in all the latest styles and well known makes.
STETSON" "G.B. BORSALINO
fu LAZARO & CA” “GAUNTIC"
THE BAKILLY CO., LTD.
153 155 Des Voeux Road Central.
penalties, Gained Thirty Pounds
In Three Months.
are forward contracts, shall bear the forced by substantial
taxation
investment against agents and principale,
In practice the system will be as I do not think there should be follows:-On a sale of shares being new or increased taxation-in fact entered into the broker or the seller am suggesting a remission of the as the case may be will make out
contract stamp duty.
a contract evidencing the trans-
stamp
How A Canadian Mother, Broken
In Health After The Birth Of Her Baby, Recovered Strength,
DR. WILLIAMS' PINK PILLS. Weight and Vigour Through
To gain thirty pounds in three months, and win back health and strength was the happy experi- ence of Mrs. Margaret Brethour. of Cornwall, Ontario, Canada, Dr. Williams' Pink Pills. who gives all the eredit, of it to
"After the birth of my baby I was in hospital four months," she writes, "and came home weighing only sixty-five pounds. I began taking Dr. Williama Pink Pills and it wasn't long until I weigh-
best.
by the genuine investor, in stamp duty has been paid. This stampeded ninety-ave pounds and my gen- transfer duty.
of the transfer together with the scrip for eral health was Up till 1921 only transfer stamp the shares will be handed to the
Every Spring since then I take the pilla as a tonic. and wouldn't be without them, no matter what
(a) That it detrimentally affects the
Should the buyer desire to raise negotiability of shares by abolishing loan on the shares he has pur- the system of blank transfers.
chased, he will hand to the lender (b) That it would force the bulk the share scrip and transfer docu- of the shares in the Colony into the ment and if the lender is not satis-
names of nominees of the banks.
"
TO-DAY
and every day
drop in for a
"quick one"
Stampa an blank transfers to be come invalid for registration pur Bookmakers. Tic Tac Men.c.pose after a certain period except will not he permitted to peran payment of a penalty, within the precincts of the Hon
12. A tentative proposal of this
My view is that each and every action and the same will be stamp- nature drawn up by the Hon. Mr. purchase of shares should pay to ed Kong Jockey Club during the Race Breen giving two alternative forms the Government stamp duty on the ad unlorem stamp for the amount at the Treasury with an
the proposal, NO CHILDREN ALLOWED IN.
annexed same basis whereas at the present the transaction calls for, and the (Annexe D). Provision is made for tima in practice the genuine in-same will in the usual course of a blank transfer at a nominal fes, invester in fact pays a great deal business be either delivered to the for hypothecation purposes in the more. because he is buying the buyer or a notification thereof sent ease of approved financial institu- shares with the object of holding to the buyer. When the shares are tions, which would have to be them, he registers them in his to be delivered to the seller, the sumed in the blank transfer.
name, so as to obtain all the bene- broker or the seller will take the 13. The following criticisms file of a shareholder and clear his contract to the Treasury together have been made on this proposal: purchase from any lien which with a transfer document and the (n) Shares would vary somewhat in might be exercised by the company Treasury will on production of the valur according to the dates of thengainst the registered holder. The contract, stamp the transfer doen (b) The approval and disapproval speculator holds the shares with a ment with a certificate which will of financial institutions would be ♫ blank transfer attached and pays be signed by the requisite Officer difflt and invidious task.
only the contract stamp duty, which in the Treasury to the effect that f) Loans by friends would be ham is far lower than the amount paid the requisite ad valorem pered. Ex hypothesi, hypothecutions 28th day of October, 1929, at had not pay transfer duty, but the 3 p.ni., at the Offices of the effect might be that hypothecations to Publiz Works
Department, by friends wou'd entail transfer
duty. Order of His Excellency the Gov
(d) The practice under which ernor of one Lot of Crown Land owner leaving the Colony deposits his duty was paid, but in that year all buyer who will then be at liberty shares in a bank here with a blank stamp duties were reviewed and to either retain the scrip and the transfer attached, so that he can tele- raised in many cases based on the transfer document as they then, they cost; I strongly recommend graph out for a loan or to sell the recommendations of a commission stand or transfer the shares into them to all mothers." shares, would be interfered with. held for that purpose. It was pro- the buyer's name,
Whenever a strength restora- (But the owner could leave a power posed to enforce the immediate re- The company whose shares they tive is needed, be it by man or of attorney),
(e) Inconvenience would be caused gistration of all transfers of shares are, on receiving the transfer docu- woman, there is nothing surpass in carrying over arrangements, if the and do away with blank transfers ment with the Treasury certificate ing. Dr. Williams' Pink Pills, the transfor stamp were just running out, so that the Government should re- will be exonerated from making blood and norve building tonic 14. Apparently it was intended ceive transfer stamp duty on all further enquiries as to whether the with a world-wide reputation ex- that the approved financial institu transactions, but in negotiation requisite stamp duty has been paid. tending over forty years. Your tion in such a case should always with the Stock Exchange it was ar Should the buyer not desire to chemist can supply them at $1.50 be able to treat the hypothecation ranged that instead of enforcing register the transfer, then when the per bottle, $8 for six bottles. transfer as a sale transfer by add-the Immediate registration of shares are again sold a further con- ing stamps up to the ad valorem transfers, a share contract stamp tract will be made and a further transfer duty. This right would be varying from $1 to $10 should be transfer document certified a be necessary in order to give the finan- placed on each share contract. fore, and so on through each trans- cial Institution power to realise its
The stamp transfer duty payable action until eventually the ultimate accurity, but if there were collusion at the present time is 20 cents for buyer desires to register the shares between the financial institution every $100 or part thereof.
in his name, when he will send in and the owner of the shares the
The principal objections raised to the company concerned the share hypothecation transfer could in to the proposed amending Ordin-scrip and the intermediate transfer fact be treated as an ordinary ance are:-
documents. blank sale transfer, but with Im- munity from the penalty duty Perhaps, therefore, it would be necessary to provide, under sanc- Westminster Chinese Hall Clock,
tion of a fine, that the financial Chesterfield Couch and Chairs,
Institution (a) should not use the
(c) That it would drive money away fied with the security as it stands Armchairs, Glass Cabinet, Pic- PUBLIC AUCTION. hypothecation transfer as A sale
from the Colony and be detrimental he will send the shares to the com- tures, Water Colours, Marble
transfer except in bona fide realisa- generally to business interests. pany whose shares they are, re- Clock. Barometer, Statue, Orna.
DARTICULARS & CONDITIONS tion of its security, and (b) that
To meet the objections raised gister the shares in the name of the ment, Teak Flower Stand, Porce- of the Sale by Public Auction the financial institution should can suggest that the stamping of share lender or his representative on pay- lain Jardinieres, Carpets. Stair to be held on MONDAY, the cel the hypothecation transfer on transfer ducuments be abolished ment of a fixed stamp duty of $2. Carpet, Curtaina, tec., etc.
28th day of October,
1029, satisfaction of the particular loan altogether; that the present trans- It will not be essential for the Carved Blackwood Curio Cabinet, at 3 p.m., at the Offices of the for which it was made. Evasion for stamp duty be no longer placed lender to register the shares in his Blackwood Chairs, Blackwood Tea-Public" Works Department,
by would still be possible and would on the transfer document but-in or his nominea's name as the trans- poys, Blackwood Joss Table, Ceil- Order of His Excellency the Gov-be difficult to discover and prove future be paid in respect of and fer document can be in blank in the ing Fans, Electric Fittings, ernor, of one Lot of Crown Land. We would have to rely largely on impressed on the sale contract note, case of mortgages and it will only Aviary, Plants in Pots and Ferns, at Shamshuipo, in the Colony the financial institution. The Com- and that in lieu of the stamp on the be in respect of sale transactions etc., etc.
of Hong Kong, for a term
of 75 mittee does not recommend the transfer document, the Treasury that the transferee's name must be Impress a certificate to the effect filled in the transfer document. Teak Extension Dining Table, years, commencing from 1st July, adoption of this proposal. Chairs, Teak Sideboard, Teak 1898, with the option of renewal
that the requisite stamp duty has When the loan is paid off, the bor Silver Cabinet, Side Table, Cut at a Crown Rant to be fixed by the
been paid and that such certificate rower will be able to get the shares Late registration feca, Glass Ware, Dinner Crockery, etc. Surveyor of His Majesty the King. 15. Charge late
be a discharge to the company con-transferred back into his name by for one further term of 24 years fees. This is the proposal of the cerned from further enquiry as to getting a fresh transfer document Iron Bedstead, Teak Wardrobe less three days.
bill of October, 1928. A copy of whether the requisite stamp duty certifled for on payment of the same with Bevelled Mirror, Doors, Teak
The scale has been paid.
nominal stamp duty of $2 or in the Having regard to the fact that case of a blank transfer it can be Dressing Table, Teak Chest of Drawers, Teak Chairs, Treadle
.50 per $100 the present contract stamp duty destroyed. 3 months. 1.00 per $100 came into force by reason of on
All transfer transactions whether After € month's
2.50 per $100 arrangement made with the Stock sale transactions, or otherwise will After 12 months 6.00 per $100 Exchange in 1921 it should be be adjudicated by the Treasury and
Several of the objections to pro- abolished altogether.
certified on the transfer document. posals III and IV apply to this pro- posal also. The Committee does not stamp duty be payable in respect the Stock Exchange in 1921, it In view of the bargain made with recommend its adoption.
of all sale transactions whether the would be unfair to insist on the shares are actually transferred in-present contract stamp duty in ad- Increased share contract duty, to the name of the seller or not dition to the stamp transfer duty and abolition of transfer duty,
and that whether the sale ls for and I therefore advise Ita abolition. 16. A tentative proposal of this cash or a forward transaction, but In my opinion the scheme as nature, which was drawn up by Mr. that in respect of all other trans above set out will have the follow- Teiter, is annexed (Annexe F.) actions such as transfer for the ing results- The great objection to it is that purposes of mortgages, temporary the effect on the revenue la too loana, transfers in respect of effect of enforcing compliance with (a) The penaltion will have the doubtful ar we have no information Trusteeships, Executorships and the proposed Ordinance. as to the amount collected at pre- donations of shares a nominal will be transferred into the name of (b) In almost all cases the shares sent by way of transfer duty. The stamp duty of $2 only be charged the buyer because it will cost the Committee does not recommend the and the same to be certified in Ike buyer nothing to do so and he will adoption of this proposal, but sug-
manner by the Treasury on the get all the right of a shareholder; gests that the Collector should re- transfer document.
(c) In the case of mortgage and galarly keep a record of the amount received by way of transfer duty in
loan transactions the system of blank transfer is preserved. case this proposal is revived. -
VII Treble duty on blank transfers. 17. Charge treble duty on blank transfers. An objection to this proposal is that it would involve a troublesome system of refunds as all transfers have to be stamped before execution by either party. The Committee does not recommend the adoption of this proposal.
MR. SHENTON'S VIEWS
Speculator Versus the Genuine. Investor
etc.
Sewing Machine, etc., etc.
Kelvinator (10 euble
feet),
White Frost, Filter, Pantry-table, Electric Cooking Stove, Aluminium Cooking Utensils, etc., etc.
also
One Baby Grand by Moutrie One Orthophonic Victron and Re-
cords.
One 5-Valve Radio Set
One S-Valve Radio Sot
One Large Wireless Cabinet with
Accessories
One Chubb's Safe.
On View from Sunday, October 27, 1929.
Catalogues will be issued.. Terms: Cash on Delivery.
LAMMERT BROS,
Auctioneers. Hong Kong, October 22, 1929.
P
PARTICULARS OF THE LOT.
BOORDATZ Noanoramatite
the bill is annexed. there is:- After 1 month
After
No, of Sais
Registry No.
Opposite New Kowloon
Locality.
Sharuskaripo.
ཉཡན་
г.
Mk.
about
A per als plan, 8,007 34
Annual Beata!
wi Upeat Price
For Master Telloring and Superior Workmanship go to JHAN DAD 8. Wing Lock Building,
Kowloon
PUBLIC AUCTION
Good Fit Guaranteed. Prices Reasonable. Ring up K. 985.
have received Instructions
TSENNET FRERES to sell by Puble Action on
FRIDAY, the 25th October, 1929,
commencing at 10.30 am.
from
Messrs.
(with an interval from 12.30 pas, to 2.80 p.m.)
at their Store-York Building
7,500
THE WHOLE OF THEIR SURPLUS STOCKS Comprising:
Gold and Silver Watches, Jewellery, Silver and Plated Ware, Porcelain and Cutglass Ware, Ladies' Fancy Hand Bags, Silver Capa, Silver Photo Frames, etc., ‘ate.
On View Now.
Hong Kong, October 22, 1920).
LAMMERT BROS,
Auctioneera..
VI
registration
[
That in future the ad valorem
carrying out my proposal, it will For the purpose of effectively
be necessary to legislate follows:-
with
bs
cases.
(d) As in almost all cases the shares will be transferred into the name of the transferee, the identity of the Colony in connection
(a) All sale transactions in the duty will not be lost except in cases ahareholder for the purposes of death shares where the shareholder during his time whether negotiated by a Member of deliberately intende evasion to take a Stock Exchange or otherwise must place after his death and I consider be evidenced by contract in writing that there must be very few of these which must contain particulars of the shares sold and the price,
(e) The compromise arrived at (b) The delivery of shares to the with the Stock Exchange in 1921 has buyer in connection with a sale trans been provided for. action must be accompanied by transfer document containing
(1) The investor and the apegala- names of the seller and the buyer, to aro placed on the same basis. particulars of the
(g) No now taxation is suggested shares sold. and in fact as far as the investor is con- igned by the seller and buyer, such carned he will pay less in the future. transfer document having thereon a certifiaste from the Treasury signed I do not suggest that transactions by the proper officer to the effect that between authorised dealers of the The Hon. Mr. W. E.-L. Shenton the requisite stamp duty has been Stock Exchanges should be taxed.
pald writes in a memorandum
Since my return to the Colony I visions of the Ordinance must be en-
(c) Non-compliance with the pro-any more than they are at present.
(Continued on Page 11).
the
at the
ST. FRANCIS HOTEL.
FREE SNACKS
every day from 10.30-12.30
and
5.30
GROUND FLOOR LOUNGE.
.7.00 p.m.
Tel. No. C. 5134. Tel. No. C. 5134.
Newly Arrived From Peking CLOISONNE,
Lacquer Ware, Peking Glass, Rugs, Bronze, Beads, Mandarin Coats and Brass, for Whole- sale and Retail.
TSUNG HING CLOISONNE STORE, 17, Wyndham street, HONG KONG
ALEXANDER'S INSTITUT DE BEAUTE
For the best Permanent Finger & Marcel Wares. Hair Cutting and Manicure for Ladies & Gentlemen. Pedder Bldg. Ist foor. Room 5 Tel.:0. 5169. Opposite entrance H... Hotel