THE CHINA MAIL, JULY 26, 1941. MUTT AND JEFF
I JUST FOUND OUT
JEFF IS OPENING. A RESTAURANT!
WELL, COFFEE AT THREE CENTS A CUP WILL GET MY
I
TRADE,]! FIGURED.
PAL!
ON YOU, MUTT!
COFFEE 34ACUP
6-10
EXPECT TO MAKE ANY
MONEY?
OH, THERE'S NO PROFIT IN HANDING
OUT COFFEE AT THREE CENTS A ̈CUP. EVEN IF IT IS LIKE DISHWATER-
COFFEE 3PACUP COFFE
Obrazy, Spr
SO I'M GONNÄ HÄNDLE „THE REAL STUFF, TOO,
FOR HIGH CLASS PEOPLE!
COFFEE 3&A CUP COFFEE 54
BUT COFFEE
Page 5 Bv BUD FISHER
COFFEE
SE "“BUT COFFEE
PLEDGING OF BRITAIN'S U.S. INVESTMENTS
THE FINANCIAL POWERS (UNITED STATES SECURITIES) BILL, WHICH PRO- POSES AUTHORISATION ON THE PLEDGING OF ALL REMAINING BRITISH INVESTMENTS IN THE UNITED STATES AGAINST THE LOAN OF $425,000,000 TO THE BRITISH TREASURY, YESTERDAY PASSED ALL STAGES IN THE COMMONS AND SHOULD BECOME LAW WITHIN A WEEK.
These assets consist largely of direct participation of British firms in United States enterprises, together with a smaller number of securities quoted on stock exchanges.
Dealing with the Bill in the Commons yesterday, the Chancel- lor of the Exchequer, Sir Kingsley Wood, said the loan afforded a satisfactory solution of the dim- cult problem of how to make the best use of Britain's American reserves for war purposes.
The American anti-Trust legislation, moreover, made it tre- quently impossible to sell such subsidiaries to other companies engaged in the same type of busi-
ness.
But means of action had to be found und the passage of the Lease and Lend Act did not put an end to the need of solving this question.
Furthermore, although the Lease and Land Act help was enormous It did not and could not cover all Britain's require- ments of dollars.
So long as borrowing, with or
without collateral, was forbidden ed impossible to find an alternative
by American legislation, it seem -
to outright sale.
R.F.C. Solution
ri-
A general solution of all tain's dßculties was made pos- Many of these direct Invest. sible for the first time when the ments, moreover, were almost Reconstruction Finance Corpora- impossible to sell at the present, tion obtained
powers to make loans to belligerent government. against collaterals in the form of American securities, and the agreement which underlay the Bill was the result.
time.
Difficulties
American subsidiaries might be merely selling agents for the Bri-Í Government was fully aware tish parent company or the ties interest rate charged on this loan. } Speaking of the three per cent. of the drawbacks of selling direct with the British parent might be the Chancellor said: "I would say investments and was reluctant to so close that if cut away from at once this certainly cannot be force available properties on an the parent, the subsidiaries might regarded as excessive for a large unwilling markel.
lose much of their value.
OUR 10-MINUTE CROSS-WORD
T&
I
1
3
4
5
•
7
8
9
10
11
12
13
14
15
16
17
18
19 20
21
22 23
24
25
26
27
28
29
30
[31
32
33
34
35
36
37
38
39
40
41
42
43
45
46
42
48
49
50
151
52
153.
54
155
156 57.
58
59 60
61
62
63
64
65
166
67
HORIZONTAL
1 Moslem
nomo
4 To exist
6 Sedate
11 Greece
13 Chest
15 Article
16 Hidden
18 Roman gods
19 To leave
21 Noblem
22 Highway
24 Sicilian..
volcano.
20 Eastern-
collego :
20 Wood of an
Fast-Indian Stree:
20 First digit of
the human
**hand
31 Mountain
33 Compass
points
34 To Bow
30 Part
· 38 Paid 'notfere
co To fasten.
42 Grasaliko
plant
45 To implore
47 Sudden.
attack
40. Tomorit
50 Part of the
53 To penetrate.
59 Noto of: sedlé
12
15
55 Part of
infinitive
56 Wind instru-
ments
50 Symbol for
sodium
61 Range of
mountains
63 Protects 64 Vision
60 Spanish for
"yes"
07 To employ
YESTERDAY'S
CAMEL
VERTICAL
1 Exclamation
of surprise
2 Extent
3 Italian
article
4 Infant
5 Altempt
6 Oarsman
7 Craggy hill
6 The south-
west wind Whether
10 Gallery for
spectators
SOLUTION
SPORT
ADAGIO BLAZER I-V GALLEON PA RED. RAISER A│I
O NON FEE SPIN
RET
NESTOR!
MARS MIEN
BARIDE A
PENS IRE REAR TANZLE FIR
INO:
THINES
8ER IN
12
ન
44
12 Witnes8 |
14 Raised strip
17 II-tempered
person
20 Burden
23 Periodic
windstorm
24 Latin con-
junction.
23 So be it
27 God of love
30 To carry
32 Merriment 35. Chart
37 Dutch:
cheese
38 Borders on 39 Not in pos-
acasion 41 King of
beasts: 43 Whets 44 Printer'à measure 40 Earth
angoddess
40 Bedtiment;:
101 Land :*
measure.
63 Small caso [57 Anglo-Saxon
money Ma
68 Symbol for
samarium
60 Ibsen, By character 62. Teutonie deity '04 Symbol for Baruthenium
external Ioan, however good the security may be.
"It is of course comparable with our own 3 ner cent War Loan, yielding £2:19:6 per cent,"
The Chancellor continued that direct investments used as collat- cral included shares of a number of other British-owned subsidiar- ies besides insurance companies.
$100 Millions A Month
There was also a block of mar- ketable securities already vested in the British Treasury but not yet sold, together with a block of similar marketable securities the hands of British owners.
in
Britain expected to receive about $100 millions monthly de- pendent on the proportional amount of collateral being de posited.
very
to
Britain could deposit quickly vested marketable securi- ties owned by the Treasury cover the first $100 millions.
Dollar securities of British in- surance companies were neither be sold or pledged. These securities were to be held against the dollar liability of the insur- ance companies.
to
Normal Practice
The conditions of the loan were based on normal American com- mercial practice.
Dollar income available from deposited securities and from in- surance, branches, was sufficient at its present level. to repay
the whole loan at maturity.
Estimated yield from collateral and. insurance': companies was $36,000,000 annually. Reuter..
Use the Famous -441 HUDSON LATHES
[Apply!', TONY WONG, China--Bldg-i
- 6th Pl., Room (618) (Opp. King's):
SHOWING TO-DAY
QUEEN'S ALHAMBRA At 2.30, 5.15, 7.20 & 9.30
This Tonic Will Make You "Feel Ten Years Younger!
Morry Mickey and Joyous Judy in a musical fun show that starts where "Babes in Arma" loft off!
Mickey
Judy ROONEY GARLAND
Strike Up the Band)
Metro Goldwyn.
.. Mayer Picture
NRYT CHANEL
M-G-M Comedy"
with
PAUL WHITEMAN AND ORCHESTRA
JUNE PREISSER
WILLIAM TRACY
Original Screen Play by John Monks, Jr. and Fred Finklebofle Directed by Dusby Berkeley Produced by ARTHUR FRIED
Ann Sothern
Ian Hunter
Roland Young
in "DULCY"
TO-NIGHT AT 11.45 AT QUEEN'S “ONE NIGHT IN LISBON."
LEE THEATRE
DAILY AT 230 5.15 720 & 9:30 P. M.
TO-DAY ONLY Booking At Whiteaway's. WHAT THESE THREE MISSED IN LIFE... They share with young romance,
from.
BEYOND TOMORROW
Screen play by Adela
Comandial from on oth ginal story by Mildred Cram and Adele Comondink
featuring
CHARLES WINNINGER ☀☀ RICHARD CARLSON • MARIA OUSPENSKAYA JEAN PARKER BELEN VINSON C. AUBREY SMITH » HARRY CAREY Produced by LEE GARMES Dircled by A. EDWARD SUTHERLAND An ACADEMY PRODUCTIONS, INC., Pisure Ralsused by RKO RADIO Pichursk
DARING!
EXCITINGI
UNUSUALI
ALSO "COASTAL DEFENCE" Special British
TO-MORROW.
Pictorial
News
THE MOST HILARIOUS COMEDY OF THE SEASON
Brian Aherne THE MAN WHO LOST HIMSELF
Kay Francis
STAR
TO-DAY ONLY. Marlene Dietrich.
“SEVEN SINNERS!! with John Wayne
Universal Picture
4 SHOWS DAILY
́ ́At 2:30, 3.20, 7.20 & 9.20 P.
TO-MORROW
Fred Astaire. Paulette Goddard SECOND CHORUS:
A Paramount. Picture