Page
THE FAIR DEAL IN RUBBER.
THE HONGKONG DAILY PRESS, SATURDAY, OCTOBER 31gr, 1925
SINGAPORE'S REPLY TO THE AMERICAN MANUFACTURERS' COMPLAINTS.
In a leading article the Straits Times acates:We have been favoured with a copy of that very excellent American magazine which enjoys the attractive title Success. It contains a long article on the rubber industry by Mr. Sherman Rogers, who sets out to tali The Truth About the Rubber War. There is very little indeed to take exception to, and we cerit Mr. Rogers with a sincere desire to get the truth and nothing but the truth. To reach that, however, a very considerable amount of knowledge and a very fair amount of judicial acumen is necessary, and for his task, in so far as the rubber industry is concerned, Mr. Rogers is not fully qualified.
Cutting out all that may be described 48 common grounds, we get this as the pith of the American grievance that in 19, when the Stevenson, Restriction Scheme was introduced, the American manufacturers asked whether, in the event
of an emergency, the 10 per cent of release would be augmented in order to prevent prices rising above the fair price level-1s. e. per b. They ay that an assurance was given by Marie Miller. The first point to observe that the
atest Mr. Miller could do was to ex press his opinion that if a did arise efforts would be made to meet it. He could not pledge the British Clovernment to depart from the Stevenson scale.
THE PIVOTAL PRICE
TREES. MACHINERY.
All the points we have mentioned are worthy of the attention of Americans who desire to have a full and clear under standing of the position. You can work tyre making machinery 24 hours per day by employing, three shifts, and generally the labour is available. You cannot tap it tubber trees three times a day, even labour is available, without ruining them, greater shortage "looming ahead And, and it is not wise to tie that with a very than has yet been experienced. lastly and Enally, America has imparted this-that when a thing is sentee those to the world no lesson more clearly than who want it, not those who produce it, must suffer.
much
RUBBER ANXIETIES.
1
In an article published previously the Editor of the Straits Times wrote:-
It is very necessary to impress upon all who are depending on supplies of raw rub ber that the release of a higher percent- age, may not be instantly followed by larger supplies flowing into the market. An experience such as planters bat last year, when prices fell to a dead loss level!
MUKDEN NOTES. ATTITUDE OF CHANG TSO LIN.
MURDEN, October '18th.
HONGKONG STOCK EXCHANGE.
CLOSING QUOTATIONS..
Octores tu, 1925.
Hongkong Bank
Du London.. Mercantile Chartered Bank
Bant, A. & B
0.......
Do
Bank EastParis Hot P. & 0. But
North China Insurance. Conten Taurace.
Walton lusurance,.
Insurance Chi Underwriters.
Chian Ficu
$1,140 nom.
£130 nom.
2204 nom.
203 bay.. buje! ...£
BOM.
Seis dus.
$1.20 sales.
Th, 140:Bonn,
So buy.
10 nom,
nom-
nom.
No unnaturally the cloud of war which has arisen on the Chekiang Kiangsu horder and its disturbing effect, not only upon Shanghai but upon the whole country, has given rise to much discussion and speculation in Mukden. From what I have been able to gather the action of the Tupan of Chekiang has not come altogether as a surprise, but nurance ..................... nevertheless the impression is given that Hongkong Fire losamance 8600 bay..
Donglazes sa far as Mukden is concerned no war
HRU jessures in that part of the country Hongkong Top
ander contemplation, and Indo-Chinns have been foreigners who follow events in China with intelligence regard this move on the part of General Sun Chuau Fang Waterboats.. inspired by the defeated" Chibli-tes in the hope of embarrassing mat discredit- ing the Peking Administration at this that. They hope to wreck the Customs time. But their ambition goes beyond
Conference and prevent the Powers agreeing to an increase of tariff ques in order that the Peking adminstration shall not obtain additional imas part of for some time, does not encourage estates to assume that they will need more labour and to incur the very heavy cost of bring which would naturally reach the Mus den Exchequer and enacle Chadg To ing it from India. Naturally, the plant-
We Lin to carry out his. designs for con- ing companies are inclined to say have been very badly nipped, and we can-solidating his enhanced power. As usual, not afford to be nipped again. If there the red Band of Bolshevis is the
............... U. & M. Steamboata
... seders
70%. nom.
Do. (Lel.), Londen Do.
Hongkong 70. nov. Shell'
ali Trasports... Star Ferries
Mining Ad
Chine Sugars Oriental Navigations Malabon Sugars. Begets
Do. (single) Langkats (combined) Shanghai Explorations" Shanghai Loans
Mines. Caspisos...
Urai
R. & K. Wharts..
Hangker H.K.&W. Docks Hone New Engineerings. New Shanghai I HK. & S. Hotels (old)
Docks
Amusements
Lands
is danger of shortage, prices will rise and by several in this attempt to wreck toe | Hongkongitys
CUSTOMS CONFERENCE...
we shall do moderately well on our pre-Conference, but this suspicion has, of
course, y to be confirmed. sent basis of output. If, on the other hand, we take for granted that the release figures will go up, and spead money on getting labor we shall be very badly hit if the forecasts prove inaccurate, and if there happens again what happened last year."
There is another point which Mr. Sher- man Rogers wholly igaures. The Steven- son seal takes is. l as the pivotal If below that figure restriction is price.
is if
restriction -whove, increased: diminished. The rubber producer may be prepared to accept is. l as a fair price it he is allowed to produce as much rub Ler as be cat, but he knows to his surrow
It is impossible to complain of "this that it is not a fair price as long as the quantity he may produce is limited. Sup attitude, which is simple common sense. pose his possible output is 10 tons and No attempt has ever been made by con- sumers to help producers, and human he sells it at ts. 3d. per hy he will earn £14,000 But if he may not export mereanture being much the same on one side than 60 per cent. he will care £5.000 less, of the Pacific as on the other, no burning and no his expenses of upkeep are not anxiety on the part of, producers to help lessened, he may be merely scraping consumers is now to be expected. Natur alang, whereas on full production the ally, every well managed estate wishes to earn all it can bat few are prepared would make a decent prof
to gamble on predictions, and it is prob able than the increase of the labour force will be owned cautious.
Knowing Mr Miller as a shrewd and fair minded man, we feel pretty sure that he would have this important fact in view, and that if he had been asked to guarantee that the price abould never go beyond 18. 6, he would have asked for some exsurance in returns that it would never fall below. 19.
"
THE TAPPING POLICY Also it has always to the home in mind, as every producer but apparently, not every consumer knows, that all the estates are most carefully considering their tap pang policy. The rubber outlook has been THE "BARE LIVING" RATE. Mr. Sherman Rogers has Janch to say examined very carefully by a good many about the fair spirit of hidfellow country people during the past six months, and men, therefore we conclude that he will the effect has bees to very greatly en- admit that guarantees should be recipro-bance the value of rubber properties. Is cal. Would it be a fair dea which left it reasonable to ask the owners to jeopar- manufacture free dize that value, which may be far greater the American squeeze the price as far below is a few years hence than it is now, by he could possibly get it. but denied to tapping in excess of what strict prudence the planter the right to get a fraction dictales in order to make
gain 1 which more than the bare living price the Stevenson Committee in its anxiety to be quite moderate fixed upon as the basis of its scale? The simple facts are bat Mr. Miller does not admit a guar- antee, and that common sense is against the assumption that one would be given by any reasonable man in the form Americans describe
There are, of course, other and most cogent reasons against the theory of a Labour does not sit round garantec. about the estates in Malaya on the off Even Chinese hance of being wanted. and Indian coolies cannot live on air and the hope of favours to come, and most certainly estate owners cannot keep full strength labour force to produce a G per cent. crop at low prices such as provitiled until the balloon tyre suddenly Tested something of a boom demand. -
#
It will be unfortunate, for China, if abortive. a. this connection it is in- the Customs Conference is rendered teresting to note that Mr. J. J.Abbott, vice-presidens of the Continental and Commercial Bank of Chicago, which made a loan of Ave and a half million gold dollars to the Chinese Government in 1916 on which not a cent of interest has so far been paid, spent two days bere on his way to Peking to be present at the Customs Conference. Hold me that be hoped that as the atoms of conference the Ni Power that Washington Agreement would be carried into effect and that thereby the Chineen, Government would be in a potion to meet its past due obligations one of the American foresting which was to publie.
85- bum
10 bay, 604 sa
$10 buy.
3255 nöm.
...$48 nom.
$ nom.
„30/- buy.
TMM. 29 buy.
15 boy- The
mis. 5 nam. mgram.
st buy. 67% buy.
B. nom. 9142 nom. $65 DOMA. Tis, 170 nom. Tia, 7) nom. Tis. 115 bay
$10 bay.
$ nom..
$70 nom
o buy.
37 pel.
$16 nou-
·mon 0918
$10 nom.
Ts, buy.
Hongkong H. Teritorials (f.p.). Humphreys Estate Prince's Buildings. Rural Lands
Orientals.
Cottons (old) Shanghai Ewo Cottons..
Do. (new)......Tla. buy. Cantia Ices Cements (combined)
Do...
Tis. I buy.
Tia. 59 buy.
37
$7 nom.
5 sellers
$14 DOTI.
.34 zom. T. 10 buy-
sellers
...$4,20m... $19) bay.
(old) Do (now)
Do (old). $15 Do. China Buses....
$19 COM. (new) China Lights (combined)....
China Providents (comb.).....41 nom.
Da. (old)......sa. Do.
(new)... $9 now. Constructiraa ..... Dairy Farms..... Dut & Wing (f.p.)
(p-p-) Hargkong Electrics Macas Electrica H.K. Developments B.K. Sopes (combined) Do, (02) Die. (Dew) Hongkong Tramway Lens Crawfords...... Mackintosh..
Է.
Do.
(new)
$10 nom.
$57 nom.
$40.000.
.50 cts. sellers
340 xxm."?
#13) nom.
88) nom-
326 now. 813 nom. 821 nom.
$15 boy.
35 nom.
$134 póz $5 sel.
..$20 non..
..$15 nel
..$14 sellers Witam Powells.
bay-bayers; sel.-ullere;" sa-sales'; Lom.~~nominal.
SURTAN ON CIGARETES. Owing to the action of Mukilen authorities in placing obtriction in the movement of oigarettes is expected that the cigarette factories we will
Sinceres closed to-morrow. Three yaz agy the Makden Government enter into an ince agreement with the B.A. and the
Do. immediate for the latter consenting to be payment Watsons (old
Japanese companies where in return United Asbestos of a tax of five per cent, ad further taxes would be imposed upon their pro- ducts. In contravention of this agree meat the authorities last sath sought to levy a surtax of 20 per cent. The manufacturers concerned rated this imposition with the result that their basiness has been brought to a stand- till. Subsequently the tax waÁ withdrawn so far as the infacturers were concerned, but the 2 per cent, is cow attempted to be collected from the dealers on taking deliver from the factories, while the manuscturers now and themselves faced with trumpap charges of smuggling for which heavy penalties are demanded The short sighted policy of those reponsible for this action is akin to,tk folly which killed the goose" which led the golden eggs.
We estimate that possible production in Malaya is about 20 per cent. above standard production, and that 75 per cent of possible is the very most that can be experted if prudent tapping is the rule. That give us 527,000 tons as the maximum probable output for the next year or two, and when we see an estimate that Malaya and Ceylon will yield 341,000 tons in 1920 we have merely to say that it is about 40,000 tu 30,000 tons above the murk. It is no use for consumers to rail against cautious tapping. The difficulties of the early future are as nothing to the diffoul ties of the later future, and the more recklessly we tap now the more that later future will be prejudiced.
history of
phrase as
BOBBED HAIR AND JAZZ AT JERUSALEM.
BEST OPERAS IN HEBREW. Hebrew Christians in London
aro
TO-DAY
UEEN CIREMA
SUPER
TOMORROW.
JOHN BARRYMORE
SUPPORTED BY
COLLEEN MOORE & ANNA Q. . NILSSON
THE
IN
LOTUS EATER.
"OUR
GANG” COMEDY.
OUR OWN TOPICAL FILM."
JUST ARRIVED.
ALIMENTARY PASTE MADE FROM SEMOLINA MACARONI, NOODLES, SPAGHETI, VERMICELLI & CUT PASTE. In Packets of † Kilo 1 lb. 2 oz. ......45 cts. A Packet.
ያ
+ lb. 1 oz
......25 cts.
Tol 794. THE FRENCH STORE, 9, Beaconsfield Arcade,
THE NAVY'S CHOICE
Coates
ORIGINAL
PLYMOUTH GIN
OBTAINABLE EVERYWHERE.
NOTICE TO CONSIGNEES.
OJEAN STEAMSHIP 00., LTD.
AND
UHINA MUTUAL STEAM NAVIGATION
00
ITD.
TONSIGNEES per Company's Stammer TROLLUS
are hereby notified that the Cargo will be dis- charged into Holt's Wharf, Kowloon, whera il
104
THEATRE
ROYAL
CONSALEZ BROS.
PRESENT THEIR
will be at Consignes risk and subjects to ITALIAN GRAND OPERA CO.
Terms and Conditions of Storage at Bolt's Wharf. The Cargo will be ready for Delivery From Godots on and after 29th October.
Optional Cargo will be landed, under Notine
bean given prior to Steamer's szival. All broken, chafed and damaged Goods are to be left in the Godown, where they will be aremixed on any Tuesdays and Fridays between AM, and Noor within the
the hours aro Free Storage
No
admitted after the Goods
have left the Steamer's Godown, and all Goods remaining undelivered after the 4th Nor will be ambject to
He Fire Insurance will be effected.
BUTTERFIELD & SWEE
Agenta.
12827 Hongrong, 29th October, 1925
THE "BEN LINE STEAMERS, LIMITED.
All Claims against the Steamer must be 18th November, or they wil not be recognised. Presented to the Undersigned on or before the
FROM MIDDLESBRO, ANTWERP, LONDON, STRAITS and MANILA.
Steamship
No Claims will be admitted after the Gooda undelivered after the 2nd November will be are left the Godowns, and all Goods remaining
Al Claims against the Steamer must be subject to Rent presented to the Undersigned on or before 16th forember, or they will not be recognized.
Monday, November 2nd, CAVALLERIA RUSTICANA
AND
· PAGLIACCE.
Tuesday, November 3rd, RIGOLETTO.
Wednesday, November 4th, BUTTERFLY.
Thursday, November Sil
TRAVIATA.. Friday, November 6th, LUCIA DE LAMMERMOOR.
Booking at MOUTRIES $4. $2. $1
12789
S.S. "ANGERS,”! SERVICES CONTRACTUELS DES MESSAGERIES MARITIMES.
took place at the Church House, West holding a series of meetings The first minster, and was addressed by delegates from the conference held in Islington, Mr. Alfred was founded. when the Internations! Hebrew Christina PROVISION FOR THE FUTURE. Clearly, of course, there ought to be
Alliance of the Prayer Union of Israel, présided.. provision made for the future, but is it
Phibbs, honorary secretary and treasurer The Rev. 8. B. Robold, speaking aa quite reasonable to ask the present estate LABOUR PROBLEM.
Last Wednesday while Iarshal Chang Labour has to be recruited some thou-owners to make it? They have had a few sands of miles away, and recruiting natur-years of misery and privation as the result Tao Lin was witnessing i serics of de ene bora in Jerusalem, dealt with The were maneuvring the returning remnant." He stated that
" BENDORAN." ally slacks when it is not wanted. Soof over-production. They got little sym-monstrations at the Nora Camp two present position regarding, Palestine and the Stevenson scale releases have been pathy or help during those years, and we aeroplanes which
overhead collided and casted, killing in his early days the language of the T
Consignees of Cargo are hereby informed foreigners spoke Yiddish. First a young that all Goods are being landed at their found quite as big as the estates could think that when, if ever deni with having regard to labour con- restriction is written the courage of those two of the most skilful Cange aviators country was Arabic, while the bulk of the
Rasaina at Jerusalem tried to restoreak into the hasardons and/or extra twardona Hebrow, but met with persecution, and Godowns of the Hongkong and Kowloon Wharf ditions. They have been trying for the who urged Malaya boldly to face the past four months to get more ecolies into problem, even if all others stood aloof,
BRITISH ARMY HAIŒUVRES.
then the French took up the task. To and Godown Co., Ltd., whence, and/or from the Le country, and it is not easily done, for will be regarded as one of the coolest
Field-Marshal Roberto, in an article day there was a great change. There wharves, Delivery may be obtained. you cannot send a press gang either to and most daring examples of economic China or to India to take labour by force. advocacy on record.
"Well, it was done and it has triumphed. There is good and profitable work for the
manœuvres, which concurd recently, ex- the Zion Theatre outside the Jaffa Gata coolics bere, but they have not recovered Those who bore the brunt of the dump in the Morning Post on te British army was a new life and a new people. In preases the opinion that the operations they could hear the best operas in from memories of the slump or the hard-and of restriction too, can hardly be ex
did not enable the effcises of the new Hebrew. There were also western things ships it entailed, and they make no eager pected to spoil the compensation that
looms abend. Some of our friends may mechanicalised transporto be adequately not so desirable," Girls bobbed their rush to the recruiting centres.
All broken, chated and damaged Goods are to, It would have been worse than useles marvel that we use such
the first day, when a monadicalised bri- dances, and many more miserable in
be left in the Clodowns, where they will be to raise the percentage by say 20 per "brunt of restriction," but brunt it was tested. The principal it tas made hair, and there were jazz bands and
examined on the 2nd November at 10 cent. instead of 10 per cent. at the begin-It is not so very long since estates were
The country, devastated in the war,
No Fire Insurance has been enacted ning of the present, restriction quarter. producing no more than sa per cent. of gade was sunt forward, at the operation novations just as we had them here,
Bills of Lading will be ountersigned by No better evidence could be given of this their possible some of them leas and was to more rapid that it would have
SIRE, LIVINGSTON & CO., LAD,
Agenta thai is contained in the figures of the getting for it only what would be a fair been if both infantry an artillery under had since, had an accession of 80,000
12816 Hongkong, 25th October, 1925. Babber Controller which we published price for full production. That we fully their old organisation ad carried out yesterday. The first month of a new counted on-our aim was to improve upon that maneuvre. Ho regels that the ope- Jews, and of them 35,000 were pioneers
HAMBURG-AMERIKA LINIE. quarter is found to be heavier than the mere cut-throat competition by over supration that was express designed to be and idealists who had established them- Take, then,ply, but we know the facts quite well one of the features of th manœuvres did selves in a bhundred colonies and trans- eccond and third months.
the coough to be aware that working restric- not yield more instruoval lessons, and formed the face of the land, turning
not live, into beautifa! gardens the following figures relating to Malayan Restriction Area: November tion was no picnic for Malayan Planters, declares that the questia zequires clear swamps whereon even the bedouin could
Jerusalem did not afford the best ex-THE Motorship or Steamship ample of the great revival work that was having aired, Consignees of Cargo by ber are and stored at finene risk into the Godowaw of the Wharf and: Godawa Kowloon 130 per cent, exportable) 15,109, tons ex: As to the future, as we have said it would er thinking than it bare received.
Jernsalers hereby notified all- Good are being
Kowloon, whence Delivery may be parted; February (55 per cent. export not be reasonable to demand that exist able) 18,585 tons exported; May (66 per ing estate holders should themselves
We have been seeing a good deal of being done in Palestine.
Optional Cargo Will be forwarded on - unless cent exportable) 19,330 tons exported; create new risks. If they are wise they Angust, (75 per cent. exportable) 16,985 will, wherever possible, extend their the American papers, pre of them are had always been a troublesome stone to handed at their risk into the barbods and Oo, L
13 No
To-zar, requesting it tor, be toas exported: The exportable monthly planted areas, for they may be sure that mere ignorant echoes the tomfoolery the nations, and the work of the enemy extra handous Godowns of the Hongkong obtained immediately after landing.
Mr. Firestone, has indiged in for self in the guise of Christendom was far and Kowloon Whad and Godown Co., Ltd,
can be obtained. is 18,087, or 54,289 for the quarter. Judg. these will pay.
Bills of
of Lading
will be reanteniged by the
be timed me. ing by previous experience the full figure RUBBER AT REASONABLE PRICES, advertisement, but higher grade more patent today than true Chris hence, and/or from the Warre, Delivery Intimation is received from the Consign will not be reached, which means that we But setting aside that aspect of the journals, which commar e pens, of men tianity. Strange sects and prophets, No Claims will be admitted after the Goods landed)
undelivered after the 2nd November, 1925, Underigned Goods remaining ing
Tuesday, the 3rd Normber 1925 at Boon, play, write on the suret with a frank confuse the people Ancient landmarks is the present condition of the labour question which inainly concerns present who posses knowlodge adsense of fair and even professing Messiahs, cams to have left the Godowns, all Goods re
All Claims must reach us by 3rd November, he subject to Rent and Lading Charge
All Claims must be sent in is ms en or balaras supply, we can produce. So if there had owners we da say that adequate rubber ness and generosity dich excites our were giving way, but the ancient spirit will be subject to Beat
These so to show that
was not, and the instinct of the people been a promise to exceed the 10 per cent supply as reasonable pricea is one of the admiration.
damaged
Fackages will be examined
will be examined aigher release would have been wholly in great deal more attestion from states and the consumer coul meet, or perhaps losing its hold in Palestine, and it must
even better, that therewould be value in effective, because we are unable to take men than it is ever likely, we fear, in advantage of it. Quite possibly the core. Why not a round table confer the exchange of viersbetween men who have a link with Christianity. labour force would have been so excited once of men like Mr. Hoover and Lord
but who do recognize at the world muat tual awakening among the Jews in by the competition among estates to Stevenson, and Sir George Maxwell to more service, that a great deal of time weigh up every aspect of the question, have rubber and plent of it, If it is to Foland, which, in spite of all the poli would have been wasted in wandering looking with equal care to the interests rawy on its work ently, and that the tical clinnges, that have taken place, real problem is to drover how best to still remains the greatest Jewry in the
world. about the country searching for the of producers and consumers?
(Continued at foot of next Galum) supply the world's wat highest bidder.
are now allowed to export as much as,
BAARLAND
|
NOTICE.
CONSIGNETES of Cargo from MAR
STOMA
I
also cargo Pailsce, Coguse re exs. “CHEF MECANT UIEN MAILHOLY ZÁRUKA
with shove Bleamer, are hereby In connection informed that their Goods with the anseptióm ef,
Ezzature and Valuables are being laudes.
and
release, which we hold there was not, a/world's greatest needs, and it deserves there is a basis on wick the producer remained true. Ancient Judaism was 1925, or they will not be recogniseded by Tildar, the 6th November Day wil not
Karars. Goddard and Douglas (Marine be recognom Packigna”
All
are not biassed on on side or the other! Pastor. Gorodishz told of great sving Surveyors) at 10 mm, en Žist Octob? Tuonday, the 3rd November, kid at 10
1925.
No Fine Insurance will be effected. Bis of Lading will be cuntenigned by
JEBBEN & Co.
Agent
12318 ghong, with October, 1925,
by Moses, Goddard & Douglas,
Be Fire Insurance ane boss effected.
B. RODENTURER, Hongkong, 28th October, 1925.
[281