1930-04-29

MONEY

MARKETS.

(Continied from Pago 2.)

Hopibay Colton Mills.

In Bombay, the etion mills have been and are suffering bally item the effect of Japanese competition, Added to which the industry has been hampered and harassed with constant strikes fomented by @gitators, who seem determined is do their best to ruin the staple in dustry of Bombay, The mills win obtain some relief if the increased duties on imported elsth goods are Approved by the Legislative As gombly in India, but more good will probably result from the reargania tion which has already be taken

#n band,"

The total capital of nine mills, we are informed. has been

THE CHINA

"Japanese Spinning & Weaving Mills

MAIL.

ling.

LAYS

Charged.

and

TUESDAY, APRIL 29, 1930. BUSINESS DIRECTORY

AT THE NEW SILK STORE.

CUT PRICE SALE.

TAJMAHAL SILK STORE,

THE

BOOKBINDING.

NEWSPAPER ENTER- PRISE LTD.

for Superior Binding "China Mail" Offices,.

SA, Wyndham Street, Tel. 6.22.

BOOTS & SHOES,

GENTLEMEN'S TAILORS.

THE HOT WEATHER IS COMING

SO ORDER NOW YOUR

SUMMER SUITS SILK SHIRTS

AND PYJAMAS

AND KEEP COOL

AND COMFORTABLE

BROWN

2nd A Rutton, Bldg.

7. Duddell St.

good. Japan duservos great credit May 9: 1902 and May 2, 1923, and YOUNG COMMUNISTS for this most effective piece of fin-alt provisions of the said supple- janse.

mental deeds of settlement (other The silk business of Japan has than those annulling original provi- Alleged Street Agitators not been up to the standard of pressions of the sald deed of settlement) P. and O. Bank itsoff is in its gen-values of tea and rubber. Ship.vious years. Owing to the decreasbe annulled and that the bye-laws crat operations doing qulle n matisments of tea in 1929 amounteal to buying power in the American and rates contained in the printed factory business.

DEFIANT ATTITUDE. 246 million lb., or an increase of 18 market consequent on the Stock document which has been submitted million Ib, over the previous year, Exchange boot collapse, the usual to this meeting and identified by the

Brandishing a tişt at the Bench, and the quality has been well main-orders fell off appreciably and prices signature of the chairman thereof rapping out answers to questions he tained. Rubber ato showed an in-decreased to a point below cost of with the amendments to by-laws was asked by the judge, and asking crease in shipments of 55 million b. production.

Nos. 68. 76 and 88 shown therein whether the latter himself was not à over 1928, but owing to fall in

in ink and initialled by the chair communist, Li Looni-za, otherwise values the buying power of Ceylon |

well- man, be and the same are hereby known as "Young Ambition," As regards the spinning and adopted (in lieu of the said annulled known Shanghai boxer, provided is greatly reduced, and with a noma-] what overlarge import of plece goods weaving mills in Japan, the number provisions of the said deed and his arrest at an anti-Government mest

Faenzational court sequel to 5, Wyndham St. Opp. China Mall.| the holders of stocks are none to increased to 6,150 million spladies for regulating the carrying on of the April 22.

of spindies in the Rengokai Mills supplement) as bye-laws and rules,

the Shanghai Times of happy under present conditiona,

Malaya gunemilly has suffered, October, an increase of a million business and the management of the

The charges on which the six accused and is suffering suverely, from the spindles in nine months,

The mills affairs of the company (so far as were arraigned are: Assembling with slump in prices of tin and rubber, did rather well in 1929, but with not provided for by the charters of others net arrested between 5 and 9.20 with the result that the offtake of increased, proelion stocks have the company for the time being ina.m. on April 20 outside the Ssu Sing imported plece goods has been the begun to accumulate, which must force) and for the government of Cotton Mill at 87 Yangtzopoo Road, lowest known for many years. It lead to a curtailment of aerations. the company and the observance for the purpose of inciting others to

commit an | satisfactory to note that imports of When we seek to explain the cause thereof by the individual mâmbarsarally; conmitting offences against the

offence by writings British plece and fancy goods in for Japau ouating Lancashire from of the company.

public order and internal security of 1929 showed an increase over the its premier position in the Eastern: 2. That for the purpose of giving the state. down from £0.375,000 to £2,50,- previous year and are in excess of markets, we have to remember that, effect to the foregoing resolution the fellow prisoners, it

the same goods from Japan, apart from cheaper labour and per- court of directors bo and they are wanted by the extra-settlement authori. Leather Sole Canvas Shoes ... 4.60 BOU, while the quidation of ten other mills has resulted in a loss of though Japanese imports show an haps longer hours. Japan is bene- hereby authorised and directed to ties..

Crepe Rubber Sole Canvas Shoes $ 6.00 $1,000,000. Bombay has thus increase over 1928,

fiting by greatly improved organisa-execute and affix the seal of the com- "Young Ambition" described on the Crope Rubber Buckskin Shoes $10.00 - fuffered badly by the fossen expen- As regards tin, the pries has tion, resulting in mass production pany to a supplemental deed of set-charge sheet as a boxer of the French Black or Brown Shoes from 6.00 HAIR DRESSERS & BOOKSELLERS duced by its cilet industry. The fallen some 60 a ton during the and mass distribution. Three large tlement in the terms of the draft Concession, strenuously denied that he Children's Bosts or Shoes from $ 2.00 Coward losses may to some extent sleady about £160 per ton. Exports three-quarters of the .aw cotton identified by the algnature of the fand denied taking part in the stoning resulting depression of these un-past twelve months and is now mercantile houses import more than submitted to this meeting and had gone to the meeting to protect the instigators from outside intervention, gecount for the depreciation of have increased over 1928, and last consumed and export about the same chairman thereof."

3. That the court of directors be smashing of 13 windows. He explained tramcar which resulted in the Indian Government-securities, for year amounted to 102,000 tons. A percentage of the piece goods pro- Bombay has always been a very form of restriction of output handuced by that cotton. The three and they are hereby authorised to that he want to meet a Filipino and active market in dealing in shares been agreed upon, as affecting firms have established agencies in apply for and accept if granted protested against what he called his and Government sergrities.

dredged tin, amt It is hoped that, Java, East India, all over India, all a supplemental and consolidating "unlawful arrest" and handcuffing by Apart front this there is the fact if this is honestly carried out, the over the cotton-growing portion of charter in the terms of the draft the police. that India in recent years has bor. effect will be an

China as well as the United States, submitted to this peeting and filen- improvement in

Judge Robuked. towed too cheaply, as evidenced by prices..

and selling agencies In most of the tifed by the signature of the chair- Asked by the judge what he was the heavy drop in the various loans,

Rubber.

principal markets of the world. The man thereof with such (if any) doing at the place where the this was aggravated by the

Consequent on the withdrawal of spinning section is also largely con- modifications as

It may be found China was big enough for him to be

meeting was ssue of Teasury bills at a high rate, restriction in Malaya and. Cuylontrolled by big combine. Some 40 necessary or be considered by the anywhere in it. He declared that he During the past five years the shipments of this product materially PC. of the spindles are owned by court of directors expedient or de- was a boxer with a regular pay and fall in India Goverment securities increased. Shipments in 1929 show into a small number of counts, and form as His Majesty may be willing proper questions by the judge.

four big firms. The cotton is spun sirable to accept or in such other suggested that he was being asked im- Fins averaged about &c. The re- an increase of nearly 170,000 tons from the yarn a number of standard to grant to the company, cent fall also has perhaps been a The most important and satisfactory cloths are made in bulk. With a

latter thereupon, remarked that he could The above resolutions were to be hardly believe that such an insolont centuated by the hint of expadin feature in the situation is that of huge turnover good results can be put forward for confirmation at a person was not a communist and com- tion made by Mr. Gandhi at Lahore increased consumption in Jamary Just.

was to be held on April 16. meeting of the shareholders which mented on the prisoner's dellant atti-

tude in court.

written

But

both In America, United Kingdom, France, In conclusion, I desire to convey

obtained from small margins. As regards repudiation by tudía Germany and Italy, but after the the thanks of the board to Mr. of its obligations, the possibility is setback experienced in the United Preston, Mr. Brace and their col- quite unthinkable, and the letter States the consumption began to from, Sir Arthur Hirtzel in The decline. From recent figures I find leagues nt head office for their able Times of January 28 last should that, including some 200,000 tons management of the bank's affairs in give complete confidence to all in-reclaimed ribber, the total world the past year. To the managera tending investors in, or actual consumption amounted to nearly abroad, to the foreign and home staff holders of, Government securities. 1,000,000 tons, and of this amount we also tender our sincere thanks As holders of these securities (and, of course, we are bound to have them in India), we have had to fare the depreciation for the last three years, which has made a serious inrol into the profits we have earned lu India, but the depreciation has been met fully, and our Government securities ere written down to market value as at December 31 last. At the moment at the price at which these Becurities stand they are a perfect ly sound and safe investiment..

Jule Industry.

America took over 470,000 tons. So that the present low price of this article has compensating advantages in that it has undoubtedly increased consumption of rubber.

RUBBER SITUATION.

Plan to Stabilise Prices.

work and continued devotion to the and appreciation of the excellent

Batavia, Yesterday. interesta of the bank shown in these a full report of the rubber situation, Mr. Marinus is mailing to Europe perplexing and difficult times. including a plan of permanent or With those remarka I beg to ganisation for rubber producers move: "That the report now pre-for the stabilisation Rented, together with the balance- Reuter. J

sheet and profit and loss account, be approved and adopted."

of a

"Young Ambition" and his was stated, are

hold, he retorted that

The

company with four Chinese detectives "Prejudging Himself." "Detective Sergeant O'Rourke, in

who went to the scene, found assembled 50 to 70 Chinese of the mill-worker class including four men in foreign

Black or Brown Boots from

Pair

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21, Pottinger St. Phone C. 1474-

DENTIST.

HARRY FONG, Dentist,

1st floor, No. 74; Queen's Road Central. Tel. C. No. 1255.

TANG YUK, DENTIST Successor to

the late BIEN TING, 14, D'Agullar Strect. TERMS VERY MODERATE Consultation Free.

ELECTRICAL SUPPLIES.

THE GLOBE FOOK CHEONG ELECTRICAL SUPPLY CO., LTD.) "72, Queen's Road, Central. Tel, C.8270,

attire. On the approach of the police ENGINEERS & SHIPBUILDERS.

fin a station car, the four men mention- fed threaded their way from the centre Alichow Road towards Lay Road of the crowd, and ran west frora

north along Lay Road Leaving two Creek over small bridge, and then Chinese detectivea to watch the crowd, of prices. Detective-Sergeant O'Rourke and another detective took a short cut into [The Government has circularised Lay Road and Ward Road corner. As the Residents of the outer posses- the two officers drew near to the four ed the resolution, and it was carried native rubber is produced, asking Wayside Roads, the four men increased Sir William Foot Mitchell second-sions in the Dutch Indies, where fugitives at the corner of Lay and unanimously without question or them to urge the native producers their pace and even resorted to running,

to join the restriction movement whether they were still followed.

turning round, continuously to see)

Position in China. In China the present position is slightly disappointing to those who anticipated a more speedy return to peaceful conditions and had looked for a settled and powerfal central Government which could effectively comment. control the greater part of China, and repress with a firm hand the That a dividend at the rate of 14 for a conference. of Residents of while his companions ran and turned The chairman next moved:-The Government is also arranging "Young Ambition" was then arrested system of bauditry on land and p.a. per annum Jute export business has rather quiet, and the jule mill in attendant horrors. This is not no with a bongs, of 63. 3d. per share, (Sumatra) and Dutch Borneo, to then turned to the police and said: "I for the half-year the most important producing re-north towards Chapel, and were lost. cepiracy on the water, with all its ended December 31 last, together gions at Palembang and Djambi, sight of by the police. The prisoner dustry in Calcutta is sufering from at present, but the Government at free of income tax, be now declared discuss the position. Mr. Marinus, am a professional boxer, residing in over-production, but that is a caso of Nanking has, increased its power, payable on and after the 2nd representative of the rubber pro- the French Concession. I suppose that temporary indisposition only. ordinary demand for Hessians and more on the move, and the futuro

The The War Lords seem. to be once proximo." bag from Australia, America and is difficult to forecast. Nanking praz Roconded the resolution, and it was side.]

ducers of Holland, who is virtual will get two months for this." Sir Harry Goschen, Bt., K.B.E., dictator of the situation, will pre-arriving with his man ist the Yangtze the Argentine has slackened as atically controls the purse and in

poo Station, Detective-Sergeant natural result of depression in ex lancked up by solid financial and

unanimously adopted.

O'Rourke found that five others who purls from those countries, but that

were in the crowd at the meeting had Is lely to recover in the rear future.

and wore in the station. Later, a tele- Ten, has, as I have alrendy said,

phone message was received at the sta experienced rather a heavy drop.

tion from the Tramway Company stat especially in the coarser grades,

ing that a number of windows of a tramcar had been smashed by some but the very fine tea still command

egitatora outside the San Sing Cotton a good price, and with reduced plucking on a wholesale scale the -market should right itself.

Bankers to Discuss Terms & Conditions.

business interests in Shanghai. The seconded by Mr. A. A. Jamieson,

On the motion of the chairman; REPARATION LOAN. been arrested by the three detectives, relations between the Chinese Gor-the election of Mr. Arthur d'Anyers tive in China are excellent. Anti- ernment and the British representa-Willis to the board was confirmed. British agitation seems to have died man, seconded by Mr. E. F. Mackay, On the proposition of the chair out, and we can with all sincerity the retiring directors, Mr. Jasper express our good will for the con- Bertram

Paris, Yesterday. solidation and continuance of the d'Anyers Wille and Mr. Colin ments has called a

Young, Mr. Arthur The Bank of International Settle-Mill at about 0.10a.m. The stoning was attributed by the prosecution to mem. present Government at Nanking.. Frederick Campbell, were re-elected, bankers In Brussels for May 1 to encountered the same morning,

meeting of bers of the crowd which the police Both in Hong Kong and in Shang- The balance of trade in favour of hai the gradual decline in the price reappointment of the auditors, Mr. of issue of the first Young repara- Mr. A. I. D. Stewart proposed the discuss the terms and conditions India for the financial year 1927-8 of silver, culminating in the recont D. C. Wilson, C.A., and Mr. H. C. K. tich loan. The amount is $300,000,- tough-looking individual, in foreign

Believed to Be Korean. amounted to 51 millions sterling slump when silver has been quoted Stileman, C., and thin was second. (gold). Mr. Montagu Norman attire and collarless, said he was

"Young Ambition," a short and and seems likely to be rather higher at 185d. per on, while Tavourable ed by Mr. W. Wallace and passed will represent Great Britain-Rou-native of Peking, out la belleved by for the 12 months now ending for exports as a temporary measure, unanimously. Since 1864 the value of foreign tella badly against imports of for trade has jumped from 60 million eign goods, especially British piece storting to 420 milliona sterling

Mr. E. T. Hargraves, proposing a FRANCE'S REVENUE. part as follows: "The ruling authori annually. Imports of apcele, silver goods and general merchandise. The cordial vote of thanks to the chair-

and gold averaged from 28 to 30 mil

Hona sterling for the past 30 years,

Vote of Thanks.

tez.

Paris, Yesterday,

the police to be a Korean.

Among the pamphlets which the police picked up was one translated in

port of British goods, or, in man, directors and staffs for the Returns Show an Excess volution with the army, thloves, run- also suffered in N. China from in conducted the business of the bank. deed, of foreign goods generally, has successful way in which they had the bulk of which remains in the creased maritime and inland taxa-congratulated the board on being country in the shape of hoards, tion. The Chinese Government able to maintain the dividend and jewellery, etc. The British Raj has have now full liberty to fix their bomas in spite of the difficulties to The revenue returns for March therefore fostered Indian trade for scale of import duties, with the re which the chairman had referred. totalled 2,974,000,000 francs show the benefit of India to a remark-ult that the duties have been about He was far from believing that ex-ing an excess of 148,000,000, com- £ble degree. What India means to bs and "Great Britain means

doubled. As in Illustration it fe change banking was dead. He was pared with the budget forecasts. India can be realised by a study of shows that the receipts from the convinced that when the trade of Havas.

maritime customs for 1929 amount the world Improved they might look

the special number issued by Theed to 152 million tnels, as compared forward to considerably better

Times on February 18 last.

Trade Returns.

with 82 million tasla in the previous times. year. The interest on all foreign

Mr. F.Tomkinson seconded bla

edy jen

loans covered by the maritimo cus-vote and it was unanimously accord toms has been met in full

The railways in North China aro

The chairman briefly, acknowledg

It is interesting to note that ro cent trade roturns show that during 1929 the import of motor-cars into India numbered about 20,000, of mostly in the hands of the military, ed the compliment on behalf of the which 7,000 wore American, 6,000 and it is amazing to think that pro- board, adding that whatever their Canadian and 6,600 British. As reducers are able to get their produce difficulties might be, so long as they gards heavy lorries and omnibuses to the market at all. I understand had the management and staff which 6,370 wera Canadian, 5,800 from that they have to depend upon most they at present possessed share- America, and 473. from Great Bri- primitive methods. tain, but for motor-cycles Great Bri

holders need not fear the results. tain had 1 pe afitekeenarten So also in China cara from Amer- en numbered 767, from Japan 668, from France 158, and Great Britain:

107,

In Chian we again note the pone (Applause). tration of Japanese imports," and this applies

as to China.

Mr. W. E. Preston (chief man

Hong Kong as well ager) thanked the shareholders for

the vote on behalf of the staff.

In past years Manchester supplied: Extraordinary General Meeting.

75 pc. of plece goods business and (An extraordinary general meeting

Burmah has had a very poor sea- Japan 25p Now the position da was subsequently held for the puri son both in import and export reversed and Japan has won the pose of submitting resolutions for

markota,

**Rangoon has experienced one of premier

premier position.

Japan.

ties are attempting to crush the re-

of 148,000,000 Francs.ting have massacred several workers. ning dogs and spies... The Kuomin

Woo Kyl Egg Factory on April 8? All Fellow workers, have you forgotten the

labourers should know that in order to Incidents at the Ziang Cheng and Edison factories in Shanghai and the

cope with the Kuomintang, the army, the running dogs, sentries, etc., and to secure our emancipation, we labourers must arm curselves and rise. Cogni zant of this, we have organised the Labourers Inspection Band. We must. gather together and strain cur best efforts, to make preparations for a de- monstration on May 1, to devise means to engage our mutual enemies in Dattle

To Frobe

the adoption of new bye-laws, and the worst periode of depression over

regulations In substitution for the As regards Japan, the chief fea provisions of the bank's existing known, both as regards exports and ture has been the return to the good deeds of settlement, and authorising Imports. Exports of rice have been standard as from January 11 of this the court of directors to apply for affected by the poor demand from year. During the past year the end, it granted, accept, a supple India especially and prices have changes have been cleverly and mental and consolidating chartar! failen As a consequence the plece effectively worked up by slow stages, place of the bank's existing chartern. goods businces has suffered, and the Japanese Government working The resolutions as passed were more br in the

the Manchester market in conjunction with the leading follows Bas been prejudiced by Importa from banks The yen was worked up to 1 That all clauses and provisions Mexico and Centra

ON of the ancient Ma Japan, Italy, and America

28 and with credits opened in Lon of the company a deed of settlement Ceylon

don and elsewhere the return to the dated March 20, 1854, not already gold stands was Anally concluded amulled by the supplemental deeds and the par value of the yon made of settlement dated August 9, 1885,

Business in Ceylon has been fairly in spite of the depreciated

ebater

ition and its

"The work of the Hong Kong Labourers' Inspection Band, the three riots in Shanghai, the riot in Canton and the work of such bands along the Yongtaza, Valley have all been fruitful beyond expectations. The Kuomin tang, the Organisation Party, the Can cellation Party, the Yellow Labour Unions, the Labour thieves, the running dogar and the detectives are all our

In adjourning the case Indefinitely, the presiding judge said that during the period of remand of the prisoners, the pollon would be afforded a further opportunity of bringing any further evidened that they may secure

At resumed judicial proceedings for the extradition of bols Lorang, reference was made three new warranta relating to

lements amounting to £320,

Beacham was "fnod appear on a

West

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Phone 2232,

59, Queen's Road Central.

PRINTING.

THE NEWSPAPER ENTER-

PRISE LTD.,

General

'and

Commercial

Printers, "China Mall

Offices.

RA, Wyndham Street, Tel. 0.22.

THE HONG KONG

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