The best is good enough
and also necessary when food is concerned.""
A nourishing and ever- welcome dish is delicious Custard, so easily prepared with good, sweet milk and
Brown & Polson's Custard Powder
Served as an accompaniment to fruit tarts, stewed or tinned fruits, it is excellent at all seasons of the year. Ask the children!
Packed in tins, each containing 1-th net. Made in Scotland, of the best ingredients only, by Brown & Pulson, Ltd., the firm with over 65 years' reputation for excellença... As reliable as
Brown & Polson's Corn Flour.
Brown Poisont
WAYGOOD OTIS
LETS
CUSTARD POWDER
For particulars and quotations apply to
THE HONGKONG DAILY PRESS, WEDNESDAY, JULY 12′′¤; · 1992.
The Sole Agents-DODWELL & CO., LTD
TELEPHONE 1030.
· MACHINERY DEPATMENT.
REMOVAL NOTICE.
"
HAVE REMOVED TO
No. 16, Des Vœux Rd., G., (Between Our Former Premises and Blue Bird's):
On display New Stock of
HATS,
MANILA HEMP
SWATOW DRAWN WORKS,
EMBROIDERIES and LACES.
SWATOW DRAWN WORK CO.,
Phone No. 2860.
SHIPBUILDERS.
SHIP REPAIRERS BOILER MAKERS, FORGE MÁSTERS. OXY-ACETYLENE
ELECTRIC WELDERS.:
MECHANICAL ELECTRICAL ENGINEERS
P. O. Box 445.
TAIKOO DOCKYARD & ENGINEERING COMPANY
OF HONGKONG,
LIMITED.
➡BRY {DOCK. Length 787 Feet.
Length on Bláske 750 Ft Depth on Centre of
gill (H.W.O.S.T.) 84 ft. 6 ins. -YORHB SLIPWAYS- Capable of Handling Ships Up to 8,000 Tons Displacement; Electriy Grane at Sea Wall, Capable ef Lifting 100 Tens at 70 Feet Radius
BUTTERFIELD &
TEL. ADDER:S: “TAIKOODOOK, HONGKONG.” TELEFON No. 319.
ALL FLAG : "U" over Ass. PINNACÍ,“
TRADE AND TAXATION, IMPERIAL INDUSTRIES CLUB.
#Taxation in relation to Commerce" provided an interesting discussion, follow- ing a dinner of the Imperial Industries Club, at the Trocadero Restaurant on May 24th under the presidency of Sir George" Hayter Chubb
Sir Basil Mayhew, who, as the principal, guest, introdund the subject, tied him- self to the practical issues of taxation as they appeared to him. All must abait, he said, that taration was necessary... State services had to be maintained, and the war, had to be paid for. He was one of those who. heheved that liabilities ought to be facel and paid for, but if taxtation was necessary it unist be fair, it must be simple, and with- in the parity of the taxpayer to pay it. There must also be complete emfidence be tween the taxpayer and the Government. The taxpayer must feel that his contribu- tion was being economically administered. There were two methods of taxation under: which they suffered to-day-direct and inlirect taxation. Direct taxation was a method of assessing an individual, firm, or company, by means of income-tax, super- tax, corporation profits, daty, and until recently, excess profits duty, Indirect taxa-;| tion meant takes on"commodities. The principle underlying any system of taxation was the empacity of the taxpayer to 14y.. and the capacity of the taxpayer was di ectly governed by the state and com- merce of the country. If the Government taxed the individual beyond his Capacity then the effect was disastrous. They were overtaxed to-day, and what was the result? Inflation of currency, unemployment, the closing down of businesses, and the entire lack of enterprise. The surplus income of the individual bad been sapped, and the great majority lud bad to make sacrifices in order to meet the lends of the revenue authorities. (Fear, bear.) There had been nó desire and no opportunity of embarking on new enterprises. Let them, skler the volume of Government securities and their market price, and also the enormous amount of the bank deposits. There was ample evidence of the fear of the individual to embark his apital on new enterprises. The reason, in his opinion, was due largely to past and present taxation. Commerce of the last few years, had been kepp under by heavy taxation, direct and indirect. He was appalled to see in the Finance Bill of 1992 that, a further tax was contemplated in the form of a super- tax ou private limited liability companies. ("Shape!)
SWIRE
(JOHN SWIZE & Sons, LAD,), AGENTS.
HONGKONG, CHINA & JAPAN
«EXCELS PROFITH DUTY.
Referring to direct taxation, he remarked that they had not seen anything like the end of the Excess Profits Duty, and it was still having mest injurious effects o trade. As a war measure the daty was, in his opinion, called for, but the moment the war' way over the duty should have been stoppel. (Hear, hear) Having shown how high xation killed business, Sir Busi Mayhew urge the importance of doing away with the three years' average of income-tax. Business people, he declared, ought to pay taxes on the profits of the year, and ought to be allowed proper and fitting charges against profit and loss account. He thought they had rendhel the last atrow in taration under the Finance Bill of 1922. That Sperial Commissioners should be allowed to decide whether directors of a company had paid sufficient dividend and should be made liable to super-tax was, be considered, an imposition. (Hoar, her.)
Mr. J. W. Hope, who opened the discus- sion, considered that the Goddes report Abould have been upheld by the Government, and should have carried greater weight than it hal. (Hear, hear.) At the same time he recognised it was difficult, qader present conditions, to regulate matters in a way that would please everybody.
Mr. H. Broughton Thompson (M.P., British Columbia, Food Controller, of Çanada) emphasised the importance of-first getting the business of the country going, and then tackling the question of taxation.
Mr. Stanley Machin, whilst not complain. ire at the nation's bill in consequence of the war, urgel that taxation must be just and fair, and be properly alministered. Industry" and Commerce were being strangled by the abnormally high prices traders were paying for their goods. › He agreed that the Excess Profit Duty had placed nufuir burdens on industry; and that wasteful administration had destroyed. many businessES. The excuse of Chane cellors of the Exchequer had been, "We
must have money Business people at the same time had the right to say that that money should not be extravagantly wasted. If the Geddes Committee had been in- existence two years ago, he believed the country would have been saved hundreds of millions of money. The whole com- mercial community owe a debt of grati- tude to that Committee for their exceeding ly valuable report. (Hear, hear.) The Government apparently did not realise how fabsolutely essential it was to be economical in the interests of the country, and also in order to develop the commerce op which they all depended. (Hear, hear.) Mr. Wo Turoball (Acting Agent General for British Columbia) and Mr.. H. L. Symonds (Chairman, London Cham- ber of Commerce) also took part in the discussion.
Mr. Symonds said he was not in the least downbearted as, to the future. Last year showed the greatest number, with one ex- ception, of applications for new patents for inventions is this country, and that was a sign that they were not standing still. (Hear, hear.)
Sir Basil Mayhew afterwards replied to the discussion.
Oil sand has been discovered at a depth of 1,810ft at D'Arry, near Dalkeith, on the property of the Marquis of Lothian, Boring operations have been carried out under the Government scheme.
To keep Fit
No more, convincing cyi- dence of the supreme restora tive properties of Hall's Wine can be offered than this doctors take it them- selves in order to keep fit.. They know the marvellous worth of this great British Tonic for "Health and Strength, the pre- scription of a well-known medical nun, they use it in their practive, and study its effect daily in thousands of cases. Convalescents, nerve-shattered "patients, and those suffering from Coughs and Colds all derive benelit from it as thousands of testimonials prove.
An English Joctorwrites: "I cases al mental ami physical exlatustion. E know of arthing better than, Hall's Wine. Take it myself a bena zilin 17.
Hall's Wine
THE SUPREME RESTORATIVE Hall's Wing is obtainable from "all fest- thiss Chemistians Wine Merchants and Wing On Co. Ltd., aut Sintera Co, Ltd. Sole Proprietars: Stepan Smith & Co. LTD. Bow, Losbor, England,
CHAMBERLAINS
COLC
MANKEFA
BLEED TO
ONE FLUID CENCE CONTAINS.45 PER CENT ALCONEL.10.7 PER CENTESMER (A DERIVATIVE OF ALCOHOL), 19 MENIMS CHLOROFORM.
FOR THE RELIEF OF
Pain in the Stomach
and Bowels, COLIC, INTESTINAL CRAMP,
DIARRHOEA
Manufsatz DEC CHAMBERLAIN MEDICINE CO.
Malone, Iowa; V; %. J · SMALL SIZE
INSURE WITH
THE
23
OCEAN
ACCIDENT. & GUARANTEE: CORPORATION LIMITEDUL VINCORPORATERING" BRYTAINA ACCIDENT BILLNESS MOTOR CARS, MOTOR ÉYCLES”. FIDELITY GUARANTEES! BAGGAGE BURCLARY EMPLOYEES INSURANCE
-ETC.
SHANGHAI OFFICE
OA PEKING BOAD.
AGENTS for Hongkong
and South China, DODWELL & CO. LTD. TELITH, 1030 2. QUEEN'S ELDS.
FOR
NERVOUS EXHAUSTIO
LOSS
MEMORY
DEBILITY
feat the
HEAVES
CHAPOTEAUT'S PHOSPHO-CLYCERATE OF LINE
It increases vital energy and nerve force, cures Nauruathaald, Dyspepala.. fumeria, and'nargenz disasise in adulte and children.
IN CAPSULES, IN WIKE AND IN STEP
INDO-CHINA
STEAM NAVIGATION COMPANY, LIMITED.
ย BAILINGS, SUBJECT TO ALTERATION
ANTUNG via CHEFOO.. HAIPHONG vis HOIHOW SHANGHAI via SWATOW TSINGTAU SWATOW
706
& CALCUTTA
TIA SWATOW DALUDIA
TSINGTAU A SWATOW
SHANGHAI KOBE YOKOHAMA TIENTSIN
SANDAKAN
STRAITS & CALOUTTA KOBE
... "YUSANG* : Wednesday, 12th July, Noam
"LEESANG". Thursday, "CHOYSANG* ...Thursday,
"WAISHING". "YDENSANG "
.....KUMSANG
"FOOSHING"
***Friday, ...Friday, ...Saterday,
..Tuesday,
* FOUKSANG * Thursday,
13th Jaly,
DIA
15th July, Noan
14th July, Noon. 11th July, 15th July,
Sp
Nour
18th Jaly,
20th July,
Nout DL
at July,
HOSANG"
*TINGSANG ...Friday,
Sunday,
3rd July, 24th July,
"HINSANGTM
CHEONGSHING" Monday,
...KUTSANG"
...Friday.
Friday,
· LAISANG " ...Sunday,
28th July,
- 28th July,
No No
3 pull
30th July, DL
QALUUTTA LINE - This 'Line afforda regular mailinge to Calcatta, Penang and
Blagapore; returning from Caloutta steamers proceed via Buader and Hongkong to Japan, occasionally calling at Shanghai. All steamers have excellent passenger accommodation, Atted with Electra Light and Pan and carry a fully-qualified
SHANGHAI LINE sometimes calling at Swatow," Through tickste e
approximately every three days between Canton and
laxed
be obtained and through Bill of Lading are Northern and Yanga Porte via Shanghat. LINEA weekly service is maintained with Manila by vessel with gcadi
from both ports every Friday.
MANILA
pataangar accommodation, HAIPHONG LINKalling approximately
BORNEO
TIERTSIN BANGKOK
E for passenger and carg
"
calling at Baihow when inducement offer LINE-Fortnightly sailings to and from Sandaran by two 1,000 se
steamers 1.4. HINSANG and ... MAUBANG" both steamerm having excellent passenger accommodation. Cargo taken a through Bills of Lading for Kadat Jesselton Labuan Tawie And Ifahad Datu LINE-A regular service is run For March so evergber bakwers
Hongkong and Tientsin, calling at Weihaiwel and Chefoo LINE-A weekly service is provided between Hongkong and Bargriz, Bwstow, by fire steamers fitted with up-to-date passenges accommodation
CALCUTTA
5.3.
LINE
KUMSANG" will be despatched on or about
Saturday, 15th July, at 3 p.m., for SINGAPORE, PENANG & CALCUTTA
Through Bills of Lading issued to RANGOON. MADRAS, PORT SWETTENHAM and DUTCH EAST INDIES,
For Freight or Passage apply to-
TELEPHONE No. 215.
Jardine, Matheson & Co., Ltd,
GLEN
GENERAL MANATERS,
AND
SHIRE
Joint Service of Steamers,
U.K.-STRAITS, CHINA & JAPAN SERVICE.
Vorna! "GLENSHANE" "GLENAVY "PEMBROKESHIRE”
Yes! "GLENBEG"
OUTWARDS.
HOMEWARDS.
Leave Hongkong
4th Aug,
Uss Hongkong 17th July,
24th July,
7th August
Discharges
LONDON, BOTTERDAM, ANTWERP & Hamburů.
Movements are subject to change without notice. For freight or farther particulars please apply to 1---
Jardine, Matheson & Co., Ltd. The Glen Line, Ltd. c.
Telephone No 115 sub-er. 13 and 389€
Cabla "Addista
- Kawaizison, . Kore.
· Bentley's AR,C. 54in 24.
and Bostt's Codet..
KAWASAKI
KISEN
Tepan aanly 1814 1913,
(KAWASAKI STEAMSHIP (UO)
KA】ITAL PAID-UP
KAISHA
€¥$0.000.000
Praddoni: Mr. Y. hawalaxy,
Vice-Presidents Mr. K. MAMUKATA. -Managing Director: Mr. Masaya Azz!'
W*Company kas on kend & Lazye Numkor et
NEW CARGO. STEAMERS
ALWAYS REALY FOR
CHARTERS of
descriptions.
The fallowing are comprised in the Company's (Maripos
Kleven steamers of 9.100 tons each deadweight:
And ander the Company's ManagERSON 4100
1wenty steamers of about 9.100 tons deadweight esen: Two steamers of about 6,400 tons deadweight eseli: (Belonging, So Kawaşki Dockyard Co, Láki
For Charin Kad
KAWASAKI KISEN KAISHA.
~~11, 1, Béxa Kosk