Page
THE HONGKONG DAILY PRESS, THURSDAY, OCTOBER 2ND, 1924
THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.
ན
Tel. Central 236..
AGENTS FOR
Queen's Buildings,
BRIGG'S BITUMINOUS ENAMELS & SOLUTIONS.
SOLE AGENTS FOR
* UNION"
ANTI-CORROSIVE and ANTI-FOULING COMPOSITIONS
FOR SHIP'S BOTTOMS,
NEED WE SAY MORE ?
A SUPER FILM STAMPED WITH THE HALL-MARK OF EXCELLENCE WITH GENUINE GUARANTEES OF ENTER- TAINMENT EXTRAODINARY.
Wallace Reid Gloria Swanson Bebe Daniels Wanda Hawley Agnes Ayros
Monte Blue
Elliott Dester
Theodore Roberts
Theodoro KosloftTM Polley Moran Julia Faye Raymond Hatton
IMPOSING ARRAY
OF FAMOUS STARS.
Cecil B, de Mille's
"THE AFFAIRS.
OF ANATOL"
A Paramount Picture.
SHOWING AT THE
QUEEN'S THEATRE
TO:DAY,
at 2.30, 5.15, 7.15 & 9.15.
The New Route to EUROPE
ROM the Orient via the Admiral Oriental
Fine to Seattle or the Pacific. Mail Steamship Company to San Francisco, to New York by rail- to Europe via the United States Lines.
Through reservations at special rates. U. S Lines Agents in Seattle and San Francisco meet all ships, UNITED STATES LINES
Agents ADMIRAL ORIENTAL LINE 4. Des Your Road, longinng" PACIFIC MAIL STEAMSHIP COMPANY
Queen's Batidine, Hongkime. Agencies in Principal Cities
Managing Operators for U. S. SHIPPING BOARD
Pro-phy-lac-tic
Benere to look for the full facsimile hyphenated name. on box and brush'
Tooth Brush
Scientifically constracted to thor- oughly clean the teeth. The tufted bristles reach into every little nook and crevice. Made in 3 textures of bristles and 3 sizes. The world's best tooth brush.
THE HONGKONG SMALL INVESTORS" SHARE & REAL ESTATE CO. TEL. 0. 4830.
WE BUY
WE SELL LOTS OF
LOTA 07
Lots of
LOTS OF Caion Insura 6/20 Lane Crawfords S'pore.Trama 100/1,000 steamboats 50/100 H'kong. Banks 1/10
100/1,000 Douglas
25 Beaitien 100/1,000 China Tights 50/200 H'kong. Trama 100/500| Docks
9/12 Territorials 100/500 Peak Traz 100/500 Lands
-40/100 Underwriters 100/1,000 Hotels old (Dec.) 100 WhartÓR
32/140 Providents old 100/500 Dairy Farms 50/500 ***
100/200 Humphreya 100%to
100 Botels, old 100 Hotels, new
Powells.. AND VARIOUS OTHER LOTS
WANTED-Houses for Rent, Hongkong and Kowloon, Prospective tenants will pay up to
Apply GROUND FLOOR; Coraez Loz Hoven STRAT
$300 monthly.
SHANGHAI COTTON MARKET.
In their weekly report, issued on September 9th. Mesara, A. B. Rosenfeld & Son state:-
Lhina, Catton.-The Betion of the market during the past week has again been very orratic, with violent fluctus-] tions, causing considerable nervousness throughout the China cotton markets. The steady undertone during the early part of the wock brought about an over- sold condition from which we had a sharp reaction, started primarily by the abarp advances in Mid-Americans, in, conse- quence of which our market responded in sympathy. The movement was renderedi more vigorous by the covering of shorts. Arrivals in the meantime are increasing daily. There is nothing to change our views regarding the trend of the market, as outlined in our previous.reports, con. sidering that there are no reliable in- dications as yet that prices will streng then before the mills are working again fall time. For the immediate "future," therefore, we still believe the market to be a sale on any little rally, though we would take profits. from time to time on fair breaks, when the short interest ia likely to get unwieldy. It is a narrow market, and only moderate swings either way are to be expreted, but, we think. with a gradual tendency towards lower level.
Yarn.--The market during the past week has been keeping steady to firm.. and prices ivanced some three to four taels from the last week's level. In all sone 4,000 to 5,000 bales of local spin- nings have changed hands for export to Szechuan. Canton. Kiangsi, Swatow, Hankow, Fukinn, Wuhu, Ningpo, Amoy and Tientsin.
Messrs. J. Spunt & Co., in their re part, state .---
Obtainable at LANE CRAWFORD LTD Taboqueria Filipina, Græco Egyptian Tobacco Store, avul all high-class Tobacconista, At 95 cents per tin of 50-
BANKING IN SHANSI.
THE PAPER. CURRENCY.
Shansi, saya the Chinese Economic Bulletin, used to be known as the land of bankers." Banking developed in the province in ages past; before the intro- daction of the modern banking system Shansi bankers held undisputed sway over the money market in China. With in the present deunde, however, modern banking institutions have been replacing the native banks, not only is other pro vinces but even in the province of their birth
China Cotton-While prices in general during the early part of the week inti mated a weaker tendency, a somewhat Grmer undertone ensued at the close, which is attributable to the sharp rise in Mid-Americans and in sampin, as well as to the fact of a fair Volume of new crop cotton having been absorbed no snoperit arrived in port, leaving a very sanal banner available for the time bring to meet actual deliveries for the
The most common type of antive banks approaching settlements at the Cotton flourishing in Shansi in former years was Exchange for the current month. Weathe pino, bao, which, with a few ex ther conditions during the past week ceptions, bas now almost completely dis
In Taiyuan, capital of the have been ideal for the picking process appeared. still in progress and with average sunny
province, only the Hsing Yih Native weather until these operations are over Bank with about forty money exchanges, there need be no apprehensions as to
still carries on. These money exchanges, the quality and quantity of the final known locally as Chien Chwang, also do outturn of the incoming crop. However banking on a small scale, although money prices of the raw material continue to exchanging is their principal business. rule above those obtainable for the manu. In place of the piae hae," four modern factured product and unless a more con banks are now operating in Shansi They measurate readjustment takes place there are the Shansi branch of the Bank of is every likelihood that the continued China, the Shansi Provincial Back, Ching depression in the domestic yarn markets Sheng Bank and the Yu Feng Bank will effectually modify the demand for Before 1020 the greater part of the bank- the local staple in so far as to eventually ing business in Shana was done by the bring about the desired results.
Bank of China, but in the winter of that of the market. steady.
year there was a run on the Stansi branch. It used to act as the fiscal agent. of the Shanxi Provincial Government and as the custodian of the Shansi Provincial Treasury, but these privileges are now transferred to the Shansi Provincial Bank. The Shansi branch of the Bauk of China has branches and agents in most of the busy centres of the province. Its note issue is now limited to a very in significant amount.
IS
Tone
SUGAR INDUSTRY OF THE PHILIPPINES.
1,300,000,000 INVESTED.
The Shansi Provincial Bank, with its head office at Taiyuan, has eight branch offices and 14 agencies in other parts of the province. Outside the province, it has two branch offices in Tientsin and Hankow and two agencies in Kalgan and
The sugar industry in the Philippines DOW capitalized t more than P300,000,000, according to Arnold Warren. sugar chemist, in an extensive and com- prehensive survey he has made for the coming
annual convention of the Philip pine Sugar Association. This estimate, says Mr. Warren, covers only the capi tal employed directly in the production and marketing of the product. It doesnt Shibkiachwang, Chihli province. As not include subsidiary capital and that a provincial Government bank, it has used in other lines dependent or supple- mentary to the industry.
Mr. Warren gives two factores which promise to revolutionize the sugar in- dustry in the islandy; the rapid expaa- sion of the area devoted to cane culture and the increase in the total volume of the crop. The high, price of Philippine migar abroad as a result of the American protective tariff and the centrifugal mills Are cited by him as among the principal causes responsible for the enormous in- of sugar production in this country..
crease
a
taken the place of the defunct Shansi Official Exebange Bureau, out of which the bank was organised.
The Shanxi Provincial Bank has the largest amount of vote-issue in circulat tion in the province. Its notes are of three kinds: dollar notes, silver sub- sidiary notes and copper notes. Of the dollar notes there are five denomina. tions, 81, 86, 810, 850, and $100. "Silver subsidiary notes are issued in denomina. tions of 30.10, $0.20 and 80.50 and cop. per notes in denominations of 10, 20, 50 and 100 coppers. The bank's notes, especially the copper notes, enjoy the utmost confidence and circulate in almost every part of the province. The Ching Sheng Bank has a very limited amount of note-issue, but the Yu Feng and the native bank Iising Yih do not issue
notes.
REVIEW OF RECENT TRADING.
Two means of increasing Philippine sugar prodaction," reports Mr. Warren. Are being utilized. One means is to increase the area planted to cane and the other is to increase the per unit production. In order to permit the planting of new areas, additional loans have been made to the planters. The Philip pine National Back played an important part in the extension of crops loans. With around forty million pesos tied up in war inflated loans, the bank has in- creased its loans in an effort to events- aliy get back, most Bil of
or!
the
amount tied up in the Philippine sugar
The Associated Stenship
industry." ines, & focal Lines, &
Economically China has suffered daring organization of steamship companies an- the past seven months, says a report com. nounced last week that ocean" rates on piled by the Chinese-American Bank of sugar shipments from the Philippines to Commercy at Shanghai. Crops generally the Atlantic coast ports had been raised from $7 (gold) per ton or 2,240 pounds net to 28 (gald). Sugar men say that the increase will not be protested be cause it is not a serious factor in the expense of transporting the sugar crop about to be brought in.
BIG RUBBER FAILURE.
GENERAL LOSSES IN SINGAPORE
MARKET.
promised' well, but in July certain pro- vinces were visited by severe floods, caus ing heavy losses. Exports from China have fallen off considerably, especially exports to America. The export of raw silk to America dwindled after February to exceedingly small parcels. The price of tea, owing to a much reduced crop. went up considerably, but toward the end of July came down and showed signs of further weakness. It was not Shanghai alone which received a setback in exports. Almost all other treaty ports fared like- wise. Dairen showed a redaction in ex A sensation has been caused in the ports during the Arst six months of the Singaporn rubber-market by the failure year of 40 per cent, while the revenus of Chew Lai Hoe, one of the largest from import duties fell of 5 per cent Chinese rubber dealers in Singapore. The situation was better in regard to Tho total liabilities are understood to importa Cotton pieces goode generally be about $250,000, but this amount is were in fair demand. Only certain fortunately distributed pretty generally classos of goods were badly hit, notably over the local market, and individual those, which were imported in anticipa- losses range between $7,000 and $23,000. tion of heavy demanda on the part of About twenty firms are involved, most | Japan, consequent on last year's earth- of which are Chinese, but several of the quake. These articles'wers steel construc- tion material in general and wire naija European Arms are among the creditors.
Chew Lai Hon had been in business in particular, also window glass, of here for many years. Although not in the which there are excessive stocks in Shang-. firat rank of the Chinese rubber mer-hai. Another article on which importers chanta, he would probably stand fourth had to take losses was woollen cloth, of or fifth in the list, and this standing was which there are now beary stocks in the very good with the European firms,"
country.
Smiles
There are different kinds of smiles, sit, smiles of impudence, superior smiles, and smiles, and smiles of contentment which are rays of human sunshine, sir, like the Kensitasj smile.
<
Yes, sir, you do smile when you smoke Kensitas.
You are contented because Kensitas are good as good cigarettes can be."
39
Jenkyn
"Manufacturer9: J. WIX & SONS-LE+ (7654 PICCADILLY-LONDON W. • ENG ̧ Whalemle.onls: DONNELLY & WHYTE, Distributors for Hongkong and South China. QUEEN'S BUILDINGS. Telephone: Central Am
Kensitas
the preferred cigarette
GET YOUR
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1.
Drink a cup of Bovril on coming out of the water after a good swim.
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BOVRIL