Seasonable
THE HONGKONG DAILY PRESS, FRIDAY, JANUARY 11TE, 1924.
Underwear
Light weight All Wool Vests and Pants, natural colour. «Unshrinkable Anish.'
From $5.50 per garment. : Meduim weight “ 'Jaeger"! All Wool Vests. Pants or Drawers.
From $6.00 per garment. Combinati a Sults from $11.50 per suit.
iJ
Mackintosh
& CO., LTD.
Men's Wear Specialists. » AlexandraBuliding, Des Voeux Road.
COLD CREAM AND FACE CREAM
Daggett & Ramsall's perfect Cold Cream.
Fund's Cold Cream
Parke, Davis Cold Creso
Purola Cold Cream (Theatrical)
Houbigant's En Beaute Face Cream
Hind's Honey & Ahocad Creant
Legrand Becret Jolly & Roses Juvenile
Fond's Vanishing Creams
Yardley's Face Cream
Yen-Y difa Toilet Cream
Stern's Fermoda Oream
Stillman's Fradkle Cream &
Orence Strain
THE CHINA DISPENSARY
82, QUEEN'S HOAD α
EAST OF CENTRAL MARKET.
CROCKET & JONES'
HEALTH
BOOTS AND SHOES,
Well-known for their Fine Wearing Qualities and Distinctive Styles. Your attention is invited to the Fine Range of Newest Styles
Just Received
THE SINCERE CO, LTD.
WHITEAWAY'S
GREAT
WINTER & STOCKTAKING SALE
WILL COMMENCE ON
MONDAY, JANUARY 14th.
$100,000 Worth of Excess Stock owing to the
Mild Winter Beason to be cleared before our Spring Stock can be shipped.
بالا
ENTIRE STOCK INCLUDED.
GENEROUS REDUCTIONS IN ALL DEPARTMENTS
Do Not Miss This Opportunity of Replenishing Your Wardrobe and Your Household Requirements.
WHITEAWAY. LAIDLAW & CO., LTD..
HONGKONG.
THE CHINESE CUSTOMS. SIR ROBERT HARTS AUTOCRACY,
A UNIQUE SERVICE,
{FROM A
TIMES" CORRESPONDENT] The Peking Corrependent of The Times reported recently that, if not granted a share of the Customs surplus, the Canton authorities proposed to declars all ports in the Kwangtung Province free, a step which would mean their taking control of Customs administration on a wholesale scale. Sua Yat Sen now threatens to seize the Customs House at Canton and appro priate the reveques.
Both from financial and political points] of view that is highly unwelcome,nows,” for the Customs revenus, as holders of Chinese bonds are aware, is the security for a number of gold loans, while the cessation through force majeure of its collection by foreigners would compel our Government to choose between defend ing and abandoning all our rights in
Chin
SPORT.
ORIOKET.
K.C.C., UNIVERSITY.
In this League match At Kowloon fo-morrow at 2.15 p.m., the Kowloon team will consist of J. B. Robinson (espt.), R. F Lindsel, A. W. Ramsay, 'S. Jex," "R, Pronji, F. W. Howell, L. E. Lammert R. Earnshaw, J. M. Jack, A. W. E Davidson and C. J. Tacchi.
The following will represent the Bal versity 1st XI:--A. A. Rumjahn (capt.), H. Y. Balbetchet, E. K. Quick, M. IF Roffey, R. A. Ponsonby Fane, A. S. Hatt, W. 3. Gizcins, T. O. Yeaw, D. Laing, 3. Hachiuma and B. P. Xg,
ན་
H.K,C,C. lm XI. e. D.S.C.C. (F.).
JUST PUBLISHED DEC. 1923.
PRACTICAL
TO
GUIDE
FAR EASTERN EXCHANGES
PUBLISHERS
By M. BOULEAU
LA LIBRAIRIE FRANCAISE
The following will represent" the H.K.C.C. 1st XI on the Club ground at 2.10 p.m. to-morrow:-T. E Peared (capt.), R. E A. Webster, H. Owen' Hughes, E. J. R. Mitchell, C. Blaker, G. CHINA RULE. R. More, E. G. Lammert, D. H. F. MeMaster, A. V: T. Deau, E. G. England and W. Galloway, «
HK.C.C. 2 XI. v. C.R,C. (L).
H.K.C.C. 2ND XI. v. CRAIGENGOWER
2ND XI. (F.).
The Chiness, Customs Service is in many! ways one of the most interesting in the I anatualous and in some world. respects unique There is no other flag In this match on the former's ground quite so bizarre as the one under which tomorrow at 2.18, the following have been i-operates. Both by origin and constitu- selected for the Home team:-H. E. tion the Service is the symbol of cosmo- Hollands (capt.), A. B. Raworth, E C. politanism in China. Until Chias joined Hagen, H. Griffin, W. W. Mackenzie, the Allies in 1917, when Germans and M. Mans, G. H. Piercy, C. R. Barou, Austrians were turned out of the Service, C. V. Mark. P. Jacks and E. D. it ranks represented most of the Powers Black. great and small, raud its Shanghai office, which is its largest, could have produced, fuent masters of most modern languages, Officially bilingual, English and Chinese, the Service originated in the decision of two English-speaking offelals and a Frenchman to do for China what she could not do for herself. That was in 1854, when the Triping rebels beld Shang hai had the 3 per cent. import duties agreed upon 12 years before could not be collected because there were no Chinese "officials to do the work. So the British. American, and French Consuls arranged with the Chinese magistrats to appoint three foreigners to do it for them.
Today the Service numbers over 1,000 foreigners recruited from Europe, Ame rica, and Japan, distributed between 50 Treaty ports, and all appointed and con- trolled by a Briton, Sir Francis Aglen,
He rules the Service from Peking. his sent in a large, walled garden in the middlo: of the Legation Quarter, which ever since the Boxer rising has resembled an old fashioned fort, for it is all grey walls and guarded gateways. The servant of a Brpublican Government, the Inspector- Geroral, as he is cntled, is one of the most powerful autocrats in the East.
THE PERSONNEL
The following will represent the H.E.C.C. 2nd XI. in the match to morrow, at 2.15 p.m. on the Craigengower ground-R. M. Macalpine (capt.), Capt. C. F. T. Fog, H. H. Taylor, Capt. R. F. Walker, A. Stevens, J.-N. Owen, J. P ridger, C. T. Fowle, G. M. Dorkins, H.
Day and N. L. H. Raillon,
R.C.C. 2ND XI. UNIVERSITY AND XI.
In this League match on the University at 215 p.m., the ground, to-morrow Kowloon team will be composed of H. Overy (cap.), A. RF. Ravon, W. L Wenser, A. O. Brown, B. Petheram. F J. Edwards, A., J. Kew, E. Savage, J. C. Long, D. S. Green and A. W. Summers,
FOOTBALL.
H‚ÂF,C Lar XI. v. H.MS, TITANIA,”
The following will represent the Club 1st XI in the first round of the Challenge Shield against H.M.S. Titanio on the Club ground to-morrow (kick-off, And he is served by a body of men of 4 p.m.) R. Hutchison; W. Gerrard and the most heterogeneous kind, a body that C. E Bishop; A. Mair, J. Steward and includes all sorts and conditions, varying J. W. R. McPhail; G. Watson, A. S. from the public school and university type Forsyth (capt), H. G. Howard, S. D. to the hard-bitten campaigner of many Begg and G. Angus
land. They are divided into two classes,
in-door and outdoor, the former recruit
ed in London, the latter mostly locally
in China. The former do the clerical LOCAL TRADE REVIEW OF
work: the latter deal direct with ships
and cargo, supervise" China's barbours,
1923:
and look after all her coast-lights. They COTTON; PIECE-GOODS AND FANCY hare Chinese employés to help them, some
COTTON GOODSAD, 5,000 or more.
ABOUT THE EXCHANGE
Direct exchange.
Settlement of a debt.
TIENTSIN-PEKING
Recovery of an indebtedness. Definition and usual terms. Exchange rates.
Rates Quotations.
Contents:
Two manners of quoting rates. Parity,
INDIRECT.
Indirect parity. Belative par
Discount and Premium. Overbought-Oversold.
Exchange Loan
Buying and Selling Rates,
Favourable and Unfavourable Ex-
change.
Discount rates:
Gold Exchange Standard. Gold Point, Silver Point.
Exchange operations in respect of
delivery.
Exchange operations in respect of
usances.
Exchange Position.
Begalts of principal exchange oper
ation.n.
Sales for cash against purchases for cash T.T. against Tir
T.T. against sight bills. Sale of T.T.
Purchase of sight bill.
T.T. against Bills at X days or I
montas.
Sight Bills against T.T. 7 Sight against sight.
Sight against X days or X monthe. I days (or month) sight against TT. sight or days (or months) night.
page
Sale for cash against purchase forward. Sale of 3 m/s drafts against T.T.
delivered in three months.
Sales forward against purchases for... |
ward.
Sales forward against purchases" for
cash.
Factors of variability of exchanges.
Commercial Movement.
Tavisible Import and Export. Banking Operations: Currency Innences: Various Influences. Infiunco Crises.
EXCHANGE CONTRACTS.
Accident put the Service under British The past year has been a fairly prospe~ control-the fact that of the three menrous one for Importers and Dealers who began it in 1834 only the Englishman Grost "changes have taken place in re- could speak Chinese, and when in tl card to the Fancy Trade. The old following year he was called to Féking it Figured and Plain Poplin business ap was natural that his successors should be pears to be a dead letter, against which British. Thus the post came to the late a very considerable turnover has been done Sir Robert Hart, who gave the Service in all kinds of Fancy Woollens. A review] · ` its present form, dividing its ranks into of this trade will appear in a separate Commissioners, Deputy Commissioners, issue.
and Assistants; ruling them all with a rod The turnover in Staples (ie., Groy and of iron; inspiring them with a common White Shirtings) shows a substantial purpose and point of view, and welding improvement on 1922, and the same ap- them into a body whose esprit de corps plies to sales of Fancy Goods, the designs transcends all the dissimilarities of and shades of which are constantly chang national origin, temperament, and outing. It is highly dangerous in these days look,
to carry unsold stocks of the latter.
A CLASSIC
He did this through the medium of The Manchester Market closed firm, and, circular letter which now run into generally speaking, for above local values. "lengthy series and form a body of Cus toms praction and law. Same of Sir Reberc's letters are worth quoting Here is an example of one of the disciplinary
But the classic formulation of Sir ass, written just before one of his few
Robert Hart's Service philosophy; the one aburners on furkugh. It runs---
During my absence from China nowhich has made the Service a faithful Commissioner is to leave his port neither instrument of the Chiner, is the follow- is leave of absence to be granted to any ing clerk, linguist, or tidesurveyor, no matter
We are working for a people with for bow short a time, sare under circund whom we can hardly be said to have any- stances of extreme necessity... You thing in common people whose ideas sill have the goodness to inform the clerks of supremacy contrast strangely with in your office that, on my return from national wakues, and whose intellectual Europe,
I shall by personal examination prido is as much beyond available know- inform myself of the acquaintance posses ledge, but who, if they have not national d by each of them with Customs-businese strongth have a curious hold on national generally,
life, and, if poor in respect of what the Herd
another example of this clasa: West styles knowledge, are indubitably Some employés, who have barely earned rich in the possession of thrift, industry, their pay and who have not been advanced contentment, and common place wisdom. so rapidly as others have displayed a "The opinion of thow we live among tendency to take things csily, supposing and understand so little has very generally that length of service will be accepted as bean that all foreigners are beneath notice and that we of the Servics, are simply
An excuse for increasing many individuals who may be utilized |
and that their position sold
is too secure to be unsettled think it in their dealings with our countrymen; is well that those referred to should wake but, whatever liking they may have for us up a little. It must not be thought that as being their assistants, they do not by because the Customs a Government any means intend that the position should Lepartment opee in it is to be always in be reverard and that, we should dictate to
them while we draw their par Other circulars defined the position of was writon y sars before the Boxer the Service in the Chinem administrative rising resulted in the Customs becoming system. In one Sir Robert wrote: security for an indemnity and before It is not the aim of the Inspectorate: Chins had borrowed money: on a large - Chinese and not a foreign Servio scale, pledging the roune of the Cu to oust the oficials the Chinese Governe tome assecurity for its repayment. Sir ment appoints, and it iz its duty to work Robert-Hart, were ho alive to-day, would with them amicably and locally. Delibe the first to advise the Chinese not to not slight or ignore the native authority interfere with a macrity with which, Remember that, although colleagues, and hitherto all this lending Fowers have been meeting on a footing of quality, the for satisfied, and the administration of which signer is, after all, only the temporary has been elicient, loyal, and fair The guest, while the native is the standing and foreigners who draw their pay under the locally responsible official.??
Chinese fag are the bat friends Chian
(Continued at foot of next column.)
Specimen of Erchange Contract. Exchange Operations Book Fosition Book.
Client Book,
Gold Operations Book Anxiliary Book in gold.
Auxiliary Book in Hongkong Dollars, Tientsin Tiela, Shanghal Taela, &c. Control of the Exchange Contracts.
Posting
Deliveries, Checking
Position of Exchange on various
places.
Cancellation of Contracts and Com.
pensation.
Carrying over of the Contracts. Portion of Exchange.
Bookkeeping Entries.
Arbitrages.
Settlement of a Debt,
Recovering of an indebtedness. Cover
Equivalencies necessary for calcul-
stions...
Coins and Weight in trious couu-
tries of the Far East.
SAIGON.
India Ceylon
Straits Settlements.
Siam,
Тата.
Saigon (Indo-Chins). Philippine Islands. Hongkong.
China.
Baigan Pixstre
Value of Saigon Piastre in other porta. Price of French Prastre in Paris, of Farity of Kg. 1 of pure silver in Paris
PRICE
Calculation of Saigon Fiastre in Paris. To convert Saigon Piastre in Paris. To convert & stg into Saigon Piastres. Rate Quotations and Usances
Saigon..
in
Nature of operations. Operations with France, London, Singapore, Hongkong, Manila, Japan, nu viện Haiphong. Operations in Gold Dollars.
Saigon operations.
Exchange Quotations.
Saigon Quotations.
Parities in Saigon.
Local Loans,
SINGAPORE NENTS).
(STRAITS SETTE
Singapore rates
Hate Quotation.
Parities in Singapore.
INDIA
Indian Banks, etc. Parities
Bombay Quotations.
DUTCH EAST INDIES, JAVA.
Java Kate Quotations- Usual parities,
THE PHILIPPINE ISLANDS, Manila Rate Quotations. Manila Parities.
HONGKONG..
Hongkong Quotations. Hongkong Parities.
JAPAN.
Japanese Coinage. Exchange Quotations Parities.
SIAM.
Bangkok Quotations. Gold Parity.
CHINA. "
General observations. Shanghai.
Haikwan Tel.
Difference in weight and Fineness of various dollars encountered in the Weight and fineness of some Taels
and Dollars.
Parity between Kungla and Hang-
ping Taels."
Apprising of silver.
Tuels used in different provincer. Exchange operations in Treaty poris. Shanghai Rate Quotations.
Shanghai Thal Parities. "Comparative Table of Parities.
Tientsin.
Tientsin Rate Quotations.
Conducting of Trade in China.. Compradore.
TRANSACTIONS WITH SILVER AND
GOLD.
Silver quotations in the United States. -- Delivery.
Commission.
Pro-Forma Notes of Purchases. Pittman'a Act.
Import of Bar Silver from London. Bar Silver in India.
Gold bare
General Remarks on the Gold in
China
Varieties of Gold Bars
" 'Barn,"
Telves.
Jewelry
How to explain the gold quotations Shipment of Gold Bars to France. Gold Bars in Tientsin.
Shipment of Gold Bars from Shanghai
to San Francisco:
Some Notes on Gold Bars in Shangkaž Claims ro Difference in Fineness, A few figures of General interest. Gold Market in India.
Silver Market in India. Pro-forma Contract: Usual Parities.
Arbitrages.
Practical Arbitrages. Bookkeeping Entries
OPENING OF CREDITS. TRANSFERS.
BANKNOTES ISSUE.
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