Page
THE HONGKONG DAILY PRESS, THURSDAY. AUGUST
THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.
Tel Central 238.
AGENTS FOK
լու
2, Queen's Buildings
BRIGG'S BITUMINOUS ENAMELS & SOLUTIONS.
SOLE AGENTS FOR
“UNION"
ANTI-CORROSIVE and ANTI-FOULING COMPOSITIONS
FOR SHIP'S BOTTOMS.
BETTY COMPSON
Whose First Stellar Production
"PRISONERS OF LOVE"
will be shown at the
QUEEN'S THEATRE
(Best, Biggest, Coolest.)
Commencing MONDAY, 25th Aug.-THURSDAY, 28th Aug, at 230, 5.15, 7.15 & 9.15.
Cinema-goers must not fail
to see it.
Book Your
PHONE C." 4636.
Seats Early! USUAL PRICES.
BOOKING AT THEATRE
"DO BE CHAIRFUL”
1.
During these Bot Summer Days it is essential to have few comfortable BATIAN CHAIRS on your Varandab or on your lawn-Chairs that hold out their arms to you in generous welcome on your return Home after a hard day's work or after a strenuous game of tennis out on the lawn.
The trouble has been that your have been longing for something really good, sor thing SUBSTANTIAL in construction, pleasing in DESIGN and CLAFORTABLE but did not know WHERE to get it.
'DO BE CHAIRFUL" COMPANY
51. Queen's Road Central,
is the ONLY place in town where you can get your requirements filled to your utmost SATISFACTION.
We specialize in Pipes, leading patterns, novel assorted
shapes and best finish.
Inspection invited."
ABAQUERIA FILIPINA
LEADING TOBACCONISTS, OPPOSITE QUEEN'S THEATRE
HONGKONG SMALL INVESTORS' SHARE & REAL ESTATE CO.
TEL. 0. 4630.
Wharves Watsons
WE SELL Waterboste 17.00 Humplary Territorials 180 Comente per 1-6,00
219 Providents old . 16
27 Providenta neg. $10. 3.20
234
* ártatio Huzaio (2nd Floor). WH BUY A
28.00 23 Dairy Farma Hotels ali
46 Underwriters : 1:75 231.00 Chins Ligizia now 10 Union Insur. Cemanta new 5.80 Hong, Banks $1,200 B'pore, Trama Bate Peak Trans
[kong, Xiaos" 40.30
10) Tags ZAND VARIOUS OTREE LOTS
Frospective buyers are reminded that sales or purchases of lots mentioned depend apon our clients and market Anctuations.
TRADE FACILITIES ACTS. GUARANTEES OF £47,629,000. Particulars of further guarantees by the Treasury under the Trade Facilities Acts, representing a total of £8,484,000, are given in a White Paper issued last month. The aggregate amount covered up to June 30th list is £47,820,645. Appended are the details of the new guarantees:
28TH, 1924
WHY THE POUND IS RISING. NEW, PHASE OF THE GOLD FLOOD. AMERICAN SPECTRE OF HIGH PRICES.
The London Daily Experis last month publiabed the following:-
Gordices already announced £38.205,645 | sterling in terms of United States dollari
Government
Midland Marts Ltd................ Malayan Tin Dredging Ltd. North British Aluminium Ca,
Ltd.
Egham and Staines Electricity
Co
Ltd.
Silvercedar Shipping Co., Ltd. Beaton and District Electric
Light Co., Ltd.
Poole Harbour Commissioners Coy, to be formed by Petersen
Co. Ltd.
North British Rabber Co., Ltd. Union Castle Steamship Co.,
Ltd. Bowring Steamship Co. Ltd.. Leckhampton Quarries Co..
Ltd.
Anchor Line (Henderson Bros.),
Ltd.
Nisbet Shipping
hipping Co., Ltd. .....
Jamalen Sugar Estates Lid.....
Since the beginning of the present month the value of the British pound
1,000,000 has risen from 4.59 3-16 to 4.40]..
10.000. Behind-this rise lies a remarkable new 100,000 phase of America's straggle to avoid suffocation by the avalanche of gold that in ceaselessly pouring into the coffers of her Federal Reserve
2,000,000
30,000 *85,000
3.000 60,000
€00,000
Leading City financiat experts believe that, subject to temporary fluctuations. the rise must continue until the ponad reaches parity, of 4.863-its value be fore the war. They are convinced that the pound is being forced higher and 50,000 higher by the practical certainty that great currency infintion will shortly take 400,000 place in the United States.
37,500
If their views are correct there ceaICH to be any point in the recent arguments 97,500 for a higher, Bank rate in this country. Parity will be obtained without the ser 1,800,000ious" consequences to Great Britain- $7.300 less trade, more unemployment, and 115,000 higher taxation-involved in a deurer
money policy.
8,000
Dampakibaaktieselskapet
Jeanette Skinner
"185.000
Anglo-Scottish Beet. Sugar
Corp. Ltd.
90,000
James Pawelland Sons (White..
frians) Ltd.
Lloyd Sabaude, Genoa
600,000
Manchester Liners Ltd.
Warren Line Ltd...
Houlder Line Ltd.
Hop unt
Shipping
·Co..
Silvereedar Shipping Co., Ltd. British and African Steam
Nav. Co., Ltd.
130,000 53,000
600,000 850,000
Pacião Steam Navigation Co. Klaveness Dampskibaaktiesel.
akab Northern
Fetroleum Tank Steamship Co., Ltd.
150,000 950,000
The paper's City Correspondent wrote: Enormous amounts of gold are being shipped to Americs each month in pay- ment of Britain's warydebt, and in ex- change for goods.
This does not mean merely that. boxes 140.000 of ingots are sent direct to the United States Government and then locked up in vaulta; the payments are made in in-. tricate and devious ways. But the sur- plus gold eventually reaches the banks of the Federal Reserve system through many channels.
128,000 resoo
Before the war, any, one could take an ingot of gold to the Bank of Eng land and receive an equivalent number of sovereigns. This is no longer the case, but Americs retains the system.
So when the gold is presented to the Federal Reserve banks they must give something in exchange for it.
AVOIDED.
Bolling
Apollinaris
THE QUEEN
OF
TABLE WATERS.
DONNELLY & WHYTE
TEL 636
SOLE AGENTS.
SAFETY FIRST
CASH BOXES
Thief Proof:-Latest thing out.
l'RICE—$20.00 each.
PHONE C. 3217.
Total to June 30th... £47,620,643 The North British Aluminium Company propose to expend the £2,000,000 covered by the guarantee on the equipment of a It further currency were to be created power station and aluminium factory; for this purpose, gigantic infation would the Lithuanian Government's advance follow, causing widespread misery, since of £1,000,000 is for the purchase of the prices of everything would shoot up. machinery for grain elevators and rail-wards Hitherto this has been avoided ways; the Jamaica Sugar Estates and the by giving in exchange for the gold not Anglo-Scottish Beet Sugar Corporation currency but interest-bearing securities. are to erect aagar factories, and the
But a crisis, a threatening to reduce SOUTH Pacific and the British and African Steam the United States monetary system to Navigation Companies are to expend chaos, is now rapidly approaching, Un- £330,000 and £600,000 respectively in the
plan Dew purchase of plant, machinery, and materi- covered the Federal Reserve will soon have als in Great Britain fer the construction
no more securities left to exchange for of ships at Belfast. In the great majority
the gold. of the remaining cases the money is to be devoted to shipbuilding. Other pur- poses include the purchase of plant, the extension of factories and works, and the improvement of harbours.
L
SHIPPING AND TRADE FACILITIES.
that
lesa
отов
ac
dis-
Comparatively recently the Federal Re- servo system had assets approximately as follows:--
Gold
Per cent.
40 Assets capable of carning interest 60 To-day the following transformation has occurred:-
Gold
WAYS OUT:
Per-cent
HR2
In the House of Commons on July 24th Mr. MURRAY (Lab.-Soc., Renfrew. W.)
Assets capable of earning interest I asked the Secretary to the Treasury if he
Not only is there the prospect of was aware that a well-known firm of Bel- gian shipowners was desirous of placing avoidable inflation, but the Federal Re an order for the building of four ships serve banks may soon be unable to pay at, Port Glasgow and for this purpose any dividend, because all the profit-car had singht assistancy, under the Trade ing assets will have been exchanged fort
cilities and undoubted security;
Act, offering at the same inegold.
How can American bankers escape Frois the Trade Facilities Advisory Committee had refused to sanction such assistance this quandary? They can either ask for the reason that there were in the Great Britain to ceas paying interest on meantime shipa lying idle; and whether, her war debt, or they must find some since other orders of a similar character ono else who will buy the world's sur had already been lost to this country | plus gold. and placed abroad under the same con- ditions, he would take steps to ensure that this order and similar orders were not lost to British shipbuilders in the in- terest of shipowners,
Mr. W. GRAHAM (Financial Secretary to the Treasury): I am informed that the Advisory Committee, alter very full con sideration, are not prepared to recom- mend the guarantee in the case referred to. I could not accept the statement in the last part of
the
question, and I could not undertake to interfere with the exercise by the Committee of the powers they have.
In reply to a further question, Mr. GRAHAM said that out of £13.000.000 guaranteed for shipping, £7,000,000 had been guaranteed to Glasgow and the West of Sectland.
FIREPROOF BITÜMEN.«
Mr. R. Child, research chemist to Messrs. D. Anderson and Son, Limited, of Manchester, claims to have discovered, after three years' intensive research, a method of rendering bitumen fireproof and giving it a stability previously un- known. Up to the present, bitumen has been regarded as dangerously inBam mable, and so liable to liquify under cer- tain temperatures as to lose much of its commercial value. Mr. Child claims that his treatment makes bitumen at plutely
About £70,000,000 worth of gold is pro- duced each year, of which only £10,000,000 is actually used. The rest gues to the Federal Reserve of America
If America can induce Britain to adapt the gold standard she will bave found some one else to buy the surplus gold.
In other words, those who are plead- ag for a higher Bank rato here are merely suiting the convenience of Ame rica, which is desperately anxious that the British Mint should be re-opened without delay.
When these facts are widely known Icas may be heard of the clamour for a higher Bank rate. “
LUDWIG BURCHARD & Co.,
AN
ESTABLISEED 1880. BERLIN N. W. 7. NEUE WILHELMSTRASSE 12/14.
BUYERS
OF ALL CLASS or ORE AND METALS PAT HIGHEST PRICES ESPECIALLY WOLFRAM AND BISMUTH.
fireproof and so strong that, after sub. B. WARREN & CO., LTD..
mission to great best, not even the sud- tea application of water will crack it. The discovery, was put to a severe test at Stretford, Manchester, recently, in the presence of the local authorities and ex- perts. It is reported to have answered every tent, withstanding heat to the ex- tent of 3,000 to 4,000deg. Fahrenheit. It is claimed that this will bring about a revolution in roof estruction; that it will permit beams to be so much lighter as to reduce the cost of roofing by one- half.
RATINGS", OF A WEEK.
The English people are the sweetest tempered in the world.-Prof. Caldwell (Montreal).
BANITARY ENGINEERS,
MONUMENTALISTS.
OFFICES 31D, WYNDHAM STREET,
疗
PHONGKONG. TIL, C. 269.
ESTIMATES FREE FOR"
COMPLETE
SANITARY INSTALLATIONS.
HALL, LAW & CO.,
30-32, DES Vœux Road 0.
MANCHURIA
KAR WAY
"
OPERATING ALL Laxımın Betrzu MANCHURIA, AND Oro (Koa) EAST OF KUEDIE,
SUMMER HOLIDAY
RESORTS
I
SOUTH MANCHURIA 110 UHOSEN
HOSHIGAURA –Fisari Seaside Summer Holiday Resort in North China Five mile from Dairah, but consorted with, the city by special meter azdcarriage road and electri immway. Yamato Hotel (35 rooms) and 12 furnished bangalowain charming olid partian Bathing, Bosung, Fishing, Golf, Tennis, Billiards, Oralarina twice a work. Capital pisos kor ala drem. OGONDAL-Most beautiful and select Bewalds Resort in the Far East. Two milesfrom For Arthur. Formerly the Bar Resort of the high Russian oʻficers and officials Yamsia Hotel and 20 villas sad bungalows, mostly with detached servants quarters. Excellent Wonderful Bonnery, Historia Battlelaida, Kained and Diamnatled Firis Milon is Wa
ande
Drivs. Abazdmet Planking Fadlines. Crabertra twice a week. Best place for high-alum PORT
RT ARTHUR.-Famme for its two memorable Sieges and its begatifal landlosia d Barbons. Exactly one hour's journey Dairan by express train. Yamato Hotal (16 rooms). *Bntaient place of historical and scesita interest to kill a month with a fresh walk or driva
wery day. Most healthy and safebriona at in the Far East.
KONG SAN.—The famous Diamond Mountain of Korea, A special Summer Resort firaling Switzerland for clixing and sotary. Beanital peaks- and charming asosien Grad recuperative ualities Kongosch Hotel (10 rooms) në Omsiri and Choraji Hơmi
י ז
(11 rooms) Cho suri.
All nudes the direst management of the SOUTH MANUHURIA RAILWAY CO, Illustrated Booklets and air Information port from un request. Applications may be sent to the Hotel Managers at the varions morts or to
THE SUPERINTENDENT OF HOTELS, Trafic Department. Cable: Add: Mantersu. SOUTH MANCHURIA BAILWAY, Dzizan. Codos A.BU. 5th Ed. Al. Lisbers.
DOUGLAS & GRANT LTD.
KIRKCALDY, SCOTLAND gjer
RICE MILLING
The largest and
most widely
Bola Agents in Bouth China
MAGSINKRY
experienced makers
In the world.
DODWELL & CO., HONGKONG,
PAIN-BAL"
Chamberlain's Pain Balm
Cures
Rheumatism, Lame Back, Pains in the Side and Chest, Burns, Scalds,
Headache, Toothache, Cuts and Bruisen.
•
HOT WATER SYSTEMS, &c.- SPECIALISTS IN MONUMENTAL.
WORK
Bord
CUT 80%
The Scottish people have a reputation. for strong temperance views and an enormous consumption of whisky —Mr. | ITALIAN MARBLE-POLISHED 490/06, Snowden.
The difference between free verse and prose is that free verte has one ragged edge on the printed page while prose is smooth both aids-Mr. Gerald Gould.
FINE PUNCHED HONGKONG. OBANITE
ARTIFICIAL WREATHS IN STOCKE
Sold Everywhere