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BONG KANG TO BANGKOK
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SOUTH EAST ASIA TRADING CO. (SÍAM) Ltd.
69, Connaught Road West. Tel. 24292. or FAR EAST AVÍATION CO., LTD.
Top Flour, National City Bank of NY. Bldg. Tel 27200.
• Entrance on Duddell Street).
"
GNAG
IMPORTANT ANNOUNCEMENT-
To
MULTIPLIED
NEW DC-4 SCHEDULES
Shanghal
Wisse
Date
Leaving
Sunday
Friday
7.42 3.7.
7:45 4.1.
1
151.4
The ai
Gloucester Bldg.
Tel: 3166-9
1:54 pm.
7.43 .4.
1:W 4.ne
B:15 am
8.15 1.8. 7:45.
*: a.m. 1:15.11.
China National
Aviation, Lorn.
CENTRAL AIR
TRANSPORT
CORP.
Shell House-- Queen's Road Central.
Hong Kong
Tels. 20278, 27811, 27855, 58948
SERVICE FOR PASSENGER & FREIGHT
HONGKONG
ΤΟ
Tues., Thurs., & Sat.
CHUNGKING Sat.
AMOY
KUNMING
LIUCHOW
SHANGHAI
Tues., & Thurs. Tues., & Thurs. Tues., Thurs., & Sat. ALL VIA CANTON NEW TARIFF FROM DATE.
(FREIGHT) $1.80 per kilo.
¡L
...
NOFY THE CHINĄ MAIL, FRIDAY, JUNE 6,, 1947.
CHINA MAIL Possibility Of An American
Windsor House
Managing Editor: W. J. Keates,
Telephones: 1 Editors
24754 Reporters & General Office 32412 (four lines) Subscription Rates:
3 months.. 6 months
fine year
1.K.$18,00 ILK:$30.00
.REVENUES AND
REPARATIONS
مائی
Ten weeks after the passing of the Budget, the colony's Estimates have now been made available to throse reside
Legislative Council who may be interested
governmental finance. Such) interest, at this stage, cant be more than academic as all deci
Irave already been taken, though t may still be pertinent to suggest that the accounts are 949 Framed as in conceal consider. abdy
than whore
they
Tho
Recession
By G.L. Schwartz
Iron And Steel
Was
income. due to Friday's reaction profit-taking: Anglo Iranian should be worth a pound or two more than its current quotation. Base-uzetals also have possibili- ties. Gold mimea may have touched their lowest, but there is Nttle in- dication yet of a recovery.
tnx
London: May 22. | are afraid of paying too high, should have good prospects, par- The demand frum, investirs rate of dividend or because they ticularly for those investors who naw of a selective inracter, and wish to swell the company's sub- do not need immediate there are intention in the Cityscriptions to Government loant. allnewhere that there is less idb The chofce between saving and H.K.$72,00
money about then was the case spending should rest with the þesssses ¦ last year. The view I held a shareholders, and should not be
markets are likely to retoni G6 Abrogated by their directors;
The Government itself bar pro- until August, but that they may then quielen down under dhe | viden gud reasoEL for full dis
tribution of dividends. If there is Burmal holiday influentes,
What will happen મા Aheny duuger of the company being The conclusion is that while it nuturna in auch less certain. For nationalled and the shareholders
is not easy to find securities with one thing, there is the possibility being bought out at "eurrent mne- obvious attractions, the public wili an American recession, ale ket prices," it is the clear duty continie to buy if it can, and few thought as far there has not been of directors to take all legitimate people, are anxious to sell. Thors the general recession in American steps to establish reasonable mar- is such to be said for aliares in
which
ket prices.
companion which up to now had commodity prices authorities were unticipating N
Trig Estes Profits Tax liabilities, months ago. On the other hang |
So far as the iron and steril it is not easy to detect them. th or Octuber.
Director would help in the crea~ by September reports
Ton of a true murket if they in- horts and dividends of Britisi industry is concerned, if the Gay- companies will be begrisningerment fulfils its threat to plented how much of their
chase compulsorily the Ordinary
onch provisiune during $121
of the embrace the period of air
shares of Arms engaged in the
size 7 was required for erigis, which became nents 4 industry 1 should not expect LEFT. Markets are likely to re- February, and which, in a
may be than the market prices Irity elective, +1 investment subdued form, persists Lochy,
1 current. To that extent the
will here forward depend for itsy It must never be forgotten lant
rrent weakness of iron and strel If we profits are the margin
upon careful discrimina- shares may not be ntirely justi ded. These shares ought not to bo reveal, Kruta parnings and cats. If autis
is suddenly terrupted, an! sti
worth is then they are today, interesting depart more if it is subject to spasmal and they may be worth more
!
interruptlong
sint noti timeat. Supplies, Trade ardenings diminish while costs are Industry, I instance, discloses) incremad; and it flors not tak
much nching oncerning
to baling about & sharp inopeful slow is taken of invern its multi
ment mearities if only crease in costs. Moreover, #only
Mr. DaRon will desire in establish Tarious raganations with their takes the whether of one or two
gol kima sphere for the paw-ibles Konverslun
alan of £100 millions of d mmportant influence" upum Hong] ræsential comproments to throw the whole rhythm of a modern proj
rent. Conversion boal, 199s. Koup's economy, in figures, which | duction plant cosupletely
, which is redestrable after March 1, 1948. By 4, dows expenditure ut $13.731.
Jaowever, the atmosphere in the form of personal) moth
pany re-alts grulli-hend in the cut-
have become less foy uralde, woluments, and
about £1,000 reßion of Than anticipated ing autumn may be less encoming-
ing than thugs which are mineure port Stock may be hanging use reveque at Sigzano, conveying ang today. Same bookers, there" | the market. the impression that the Depart- fore are not cerimu whether the
normal autumn revival anent is just managing, on reduced kets will occur this sour
M
Jslands, to
explanation
Same!
g its wat
afrial poli
ย
would -vehi to be derzanded. metrower, in connection with the operations of the Custodian of
farms
Ta
Property. Income from the setter is shown in the official accounts as $2,900,000 (estimated the actual figure being unknown,
the
1946-47, and Year finle as $127.508 in, the year mog 48, the difference indicating that the Department has fulfilled most of its functions, and is on
TARANY
P
a.
Z
in
itiresםין
Are
at
TROTV
Jmw to Coming
variou -etion of the market, - a mor
Oil And Metals
became
J...
Prices of Industrial Debentures atul reference shares muy by Dividend Policy affected meri August by
doubled stamp duty, for many si Meanwhile, nuany iruding com
higher these are bought on a yield bazon, touring dividends. Although in some cases and their prices are nietentously subsequent price movements show adjusted accordingly. Equities A that they have been discounted, un ikely to be subject to the general
As a role, which I have already di the whole they are acling tone. In priceinte the is nothing wrong in paylag all. incrane dividend, alway asing the Bancial position The con
01 It can even in pany justifies it. claimed that "in substituting differential profits tax for vious disapproval of increased dividends, the Government has re- guised the right of a company
pay a higher dividend ir thinks it.
ta
used. Some Calliery shares may turn out well, when the compra. tratation terms are finally determin
d. Home Rails are thought by me to look chrap today. Argen- time Balls should be held, though. I expect no new develupnight un- tl the end of this month.
With the wild turning from mal to oil, the all share marted
יות!
start-
4102
Canada Banned 40 Books
01awa, June 5. "Canada cledd its borders to abrul 49 books in 1946 on the Proda Hry wêre Indecent and not wanted.
Th
Government
chiimed
CARNIVAL
By Dick Turnor
4-5
SOPD, 1947 ET HEA STRFICE, ING: 1. M. BEG U B PAT, OFF.
10
And I give you fair warning if you raise our rent wa'li adopt a child?"
BARCLAY ON BRIDGE
By Shepard Barclay...
"The Authority on
AVOID UNSOUND ODDS
Bower under its Customs Tariff Act to ban the importation of In rubber bridge, if you bid
Authorities"
Then South began counting
up the tricks. Almost certainly five in spades, which should In the defenders'
any "Look, printed paper, draw- and make a No Trump grand break 3-2
ing, painting, prints, graphis
risk
photo slam vulnerable, you get 220 for hands. Three in clubs brought or representations of tricks, 1600 for alam bonus and the total to eight, one for the any kist of treasonable or 700 for game bonus-a total of-heart. A made nine, North's red seditions or immoral
or In- 2.400. If you stop at small stam king would make ten, the dis- decent clinrarter.”
and make the extra trick, your mond A monde 11 and-if North had nothing extra, there was at A Government official said amall slam premium is 750 in least the chance that the dla burder stations were instructed stead of 1500, and thereforei
mundanesse would work to stop any boks mentioned your total is 1070. But remem-
heart Q and North had the on the banned list.
ber this going the rest of the In the case of new books, the way to grand slam may
club J, or perhaps more than five spades. Customs apponisers may reject loging 1640 in return for pos-
grand As it developed, the them upon reading or paible extra gain of 750. There- slam could not be made, niter them on to higher authorities fore, it is unsound to do it un if they are of doubtful appear less you think the odds are 1640 mond finesse would work. But it the heart lead, unless the din- ogainst 750 that you will make
so the dil, the grand alam, or roughly more
negotiated. than 2 to 1 in favor of auccess.
That was a pretty hazardous bld for rubber bridge. In match- point duplicate, it would have been a hit wounder, because South would be risking only the number of match points avail- able in cach deal, not the extra value the deal had in rubbers,
ance.-Associated Press,
The Germans Expect
To Be Led
1031
Next there is the question of
Frankfurt, June 4. a rather grin picture to most how much a company should dis
The picture of Germany two of the 65,000,000 WH tribute, and how much it should
years after it surrendered un-¦ Scheltzes, The fest text is plough back.
Two years of of whether the company is able conditionally is not
en- fort to restore normalcy have use its profits, if it refains them couraging one, either to think seen the foot ration drop even in the business. Under presenting Germans or to the four lower than in wartime and the conditions, this depends upon how occupying far it can obtain licences to erect additional buildings, upon what new equipiñent it can buy, and short what are the limits to i powers of physical investment, Repaal must also be had to who ther there is any advantage torther capital eenditure of this kind, or whether the business is
fully extended
Powers. There is Germans fear another cut be-
fore the next harvest.
in
By CLINTON
B. CONGER
S. J 3
S. A 9 7 G 2 H. AK 8 7
D. 10 7
S. 10 8 4 11. Q 6 2 ED. K6 5 4
contract
*
Tomorrow's Problem
S. 10 9 4 H. 8 3
was
C. J B
H. J 9 3 D. 98
N
W
C. 10 9 6 5
S
3 2
3 2
C. 4
S. K Q 6
H. 10 G 4
D. A Q J
CAK Q 7
Dealer: North. vulnerable).
S. G
4 5
East South Pass 3 C Рад
3 S Рава
Pass D. A K
N WE S
H. K Q J
102
D. Q J 7
4 NT
Pass C. Q 9 4 2
5 2
GH
Pass
5 NT
Pass
G D
Pasa 7 NT
Pass
North
North-South
J
D. 10 9 8 6
C. K 100 5
S. A West H. A 976-
Pass
5 4
C, A 8
The investor is entitled to in- the point of closing down. Thatcentive, just as much as anyone. being the case. two questions edges. When allowance is made for immediately arise. First, du these the fall in the pultising power
of maney, the ordinary figures represent the full net hatder is not in many cases income of the Custodian since celving as much today as he dhi
before the war. aise Liberation, or is there 1 special tupd into which additional has been placed in suspense? Second, arising from the first, is whether diversion of any of such receipts into the general revenues of the Colony
Rubble Towns does not constitute something like
Reconstruction in negligible breach of trust.vis-a-vis the
and few towns are even clear- 1 ន general public? Mupe of
ing the rubble, beyond opening 3H not even any early prospect of the streets with bulldozers and receiving some reompense for
# prace
treaty which would stacking the debris up where their war losses is still entertained
restore and
the
the buildings once stood. country to by many who suffered grievously, modernised.
family of nations and end the) Industry
at a low ebb,
. From the responses to hla if there is no supe
marking time until the repara Blackwood 4-No Trumps, South for the paralysing uncertainty. and have not had years of lack
employment of additional roger- Here is how things are, ap- tions question has been an pay to modify their sense of ill-ves, it is arguable
that only proximately, with the average xwered. The trickle of exports knew that North had the mis- should be retained usage. One of the must Ingical enough
German-call him Willi Schultz. has a slight cheering note for sing two aces and one of the cover contingencies, dividemt
Schultz has an empty stomach economists but means little to two red kinge. He counted on. eventual distribution seems, to provisions have been made, thr
At what stage, if any, should` a profound pessimist, not care whether the revenue since he went on with a rebid of runt should be distributed to the is
South had given South enter the bidding the average man, to be moneys shareholders. It is doubtful thinking mostly in terms of is paid to the occupying powers them after derived from the disposal of directors have the moral right to food, shelter and cigarettes, but for his rations or made into R only second-round support in East and West disclose
strength by very little beyond.
living credit.
dicating probably Japanese-owned property, parti- shareholders, almply beenuse huy
Boundest methods? who He agrees, tilat those
Thoughtful Germans are curds of the sult. |cularly as, in the ĉase of furniture,
dragged him into the war hopeful for their country, but for instance, much of this was
should be punished but accepts, only 122 a long-term basis, in fact Japanese-stolen property,
no blame for himself for fol- They feel that Russia and the ger than after the first World] tends to split the four powers He western 1owers. most find a War. They observe the firm more and more on what and originally belonged, to ex-
tend to feel sorry for him- way to gel along together or entrenchment in the Soviet methods should be used. Thus internees and their like. Trans-
Germany will become a pawn zone of a strong organisation help for Germany becomes more fer of Custodian income to the
The Allien have replaced the and n home of contention. They and discipline, which appeals remote. German, government, so Schultz feel alsy that the four zones of to Germans as the proper an- Will Schultz used to wallz general revenues on the face of
fecla it in their responsibility occupation must be mode swer in a crisis. As despair when he was not marching. (From the Ales of the "China epair the war damage and put tively one.
to clothe, feed and house him, cconomically and administra and depression spread over the Now he finds life not geared country, even the conservatives for either. He hopes for one privilege of sole recipient of, Mail" June 5, 1047),
Germany on her feet again.
Discipline
world but would settle for one lean toward Socialism. The annual Chiricse Testival of compensation for war
Not Interested
sa a going the Dragon boats vak held. Inst
The fact that the Germans nation, operated
(Dealer:
Knutrees of reparations funds for counilation, anul so an. Once the but a bellyful of occupation. the average German, who does North as having five spades. vulnerable,)
AMOY CANTON
(FARE) HK$180.-
CHÚNGKING
35.- 250.-
,35 " 2.50
D
-
it bestows upon. Government the
KUNMING
350.- 180...
3.50 ** 1.80
"
#
.
300.-
3.00
LIUCHOW SHANGHAI
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THE IMMEDIATE TONIC
losses.
retain money belonging to their
100 Years wing their leadershipa.
Ago Today
self.
Conservative politicians see
only three tremendous
S. K Q J 8 7 6 3 2
H. None
D. 4 8
C. J 7 3
Went, North-South
Nor has anything been said, Monday. At Canton there was Schultz is obediently willing Communism. 28 a greater dan- expect to bo led and helped concern.-United Press.. públicly, of official intentions the usunt display of long cause "to be "democratised" but is not
Interested. looking boats withiedġa, music &c. | particularly We hear that placard was posted | Votes dutifully, always, but
regarding substantial property
Hu
if
their
the
owned in Hong Kong by the advising the peoples to attack the feels that politics entalis in- THE HONGKONG & SHANGHAI BANKING CORPORATION
Japanese in 1947 whicle remains steamer "Pluto" at her anchorage cricule manoeuvres best left to
*
in Government control. Oriental in the Macao passuge' but if this Building, oceupled as the head was ever seriously bitended, the quarters of the Police Department wild enterprise was 'abandoned. which we believe, paying a
Hong Kong Dispensary, Queens nominal: rental to the Custodian, Bond, Vieteria, covers a highly valuable building Sotia Watert site, needs pulling down, and, Aerated Lemonade, would realise a substantial sum Seltzer Water, Direct placed on the market at this Hamburg)s! time, Similar, though perhaps
the experts. He cannot com- prehend that the beat way to remuve incompetent of infs is through the polls rather thanf by protesting to the Allies.
Schultz is too much interest- ed in food to argue much about whether Germany should be: from federaliged and contralised. He feels that he is entitled to an carly peace treaty, without high English Carnago and le valuable properties are dis-
Irish homes of getting one. Since tributed over different parts of Coakery-The Irish people are the four occupying powera can- entertained at the shortest inter
not find unanimity on Berlin's the Colony and taken together vale with lessons in sedition and municipal affaira, how can they are potentially valuable assests, rebellion, which
ara moant oth
•
be
agree on Germany'niture, he naka,
Above all, his gloomy mind
all of which should be, reserved present amusement but to against reparations claims. Trans useful hereafter. Minute instruc fer to the general revenue would, tions are given to the kinds of!
at all events, furnish ground for weapon, the modes of destroying gnawed by the fear that instant protest. With the repara-soldiers and Englishmens, and the Russia and the western powers wight as soon as they catch neccinity of wading through tions question, exercising, a good rivers of blood" appears to be their breaths and he more and realises that Germany many minds again just now, a the sole instance in modern and more statement on the present general civilised Europe, of an animal in should be the first battleground position, as well as on specific human form that avowedly exults if it happens. paints of detail, would seem to in ferocity, malevolence, and the be appropriate.
love of blood,
Even in springtime, ‘after, a} bitter winter, Germany presentą
announce that a
Comprehensive Executorship and Trusteeship Service
is availablo
through its Associated Company
Hongkong & Shanghai Bank, Hongkong (Trustco) Limited,
M
Mezzanine Floor, Hongkong Bank Building, Hong Kong
Incorporated under the Hongkong Companies Ordinance 1932 Registered as a Trust Company under, the Trustee Ordinance 1934 Capital (the whole of which is owned by the Bank)
Authorised and Subscribed
Paid Up ...............
$500,000.00 $250,000.00
The Services offered by the Trustes Company are described 'in fie Handbook which wilt de supplied gratis upon request. (
1