Page
THE HONGKONG. DAILY PRESS, WEDNESDAY, APRIL 28TH,
THE DISTILLERS AGENCY, LTD.
LONDON, EDINBURGH, GLASGOW.
THE
"TOP NOTCH”
SCOTCH
"KING
GEORGE IV"
WHISKY
Pint flasks suitable for pienics, etc, now obtainable
at $2 per flask duty paid-
SOLE AGENTS:
ANDE, PRICH & CO., LTD. St. George's Building, Ice House Street. Tel. No. Central 135.
ASAHI
BEER
SPECIALLY BREWED FOR EXPORT
DAI NIPPON BREWERY CO.
Th
LIMITED.
TOKYO JAPAN
SOLE AGENTS:
MITSUI BUSSAN KAISHAL LTD.
Growing Children
BONGKONG
PERFUMERY
Manufactured by RIGAUD, PARIS:
**AIRS
KEBALSAMADO "
"MATT GARDET ***
** HORA CARINDRAS "
"DULCE MIA"
#LILAS RIGAUD "
Obtainable from
VICENTE ATIENZA & Co. No, 54, NAIKAN B., KoWicom, TILE.1;
need a nourishing, sustaining food-tonic, that is easily digested. It must be palatable. "Always give them
'KEPLER'
(Trade Mark
Cod Liver Oil with Malt Extract
·4442
·Bottles of two sizes
All Chemists and Stores
HAZELINE' SNOW”
(Trade Mark
The original non-greasy preparation, will keep your skin soft, cool and smooth
All Chemists and Stores
Disen pois
BURROUGHS WELLCOME & C
LONDON
All Rights Kmerna?
COMPANY MEETING, MERCANTILE BANK OF INDIA, LIMITED.
INCREASED PROFIT
The thirty-third annual general meeting of the Mercantile Bank of India Ltd was held on March 3rd at Winchester House, Old Broad-street, EC. Mr. J M. Ryrie presided. The chief manager; Mr. J. Steunst, read the notice conven- ing the meeting and the auditors' certificate.
toxtiles are still high, the healthy decline in prices generally has brought about more confidence, but progress towards normal economic conditions must necBS- sarily be slow until Continental curren- cies and finance are put in order, whilst, as recent events at Geneva have indicat ed, we cannot be too optimistic about the results of the Locarno Agreement. The present trouble in the engineering trade does not indicate that labour is, as I had hoped. more inclined to co-operate with capital, and I am afraid the coal report does not carry us far towards a sotile | ment between the owner and miners, and which is so important in the interests of trade generally. The cost of living re- mains, high, and this, of course, has an important bearing upon the cost of production, but I am hopeful that Food Council will be Success- the ful in bringing about IL necessary reduction in retail prices. Then we want a material reduction in national expenditure and some further relief from the present heavy burden of taxation, but if we may judge from the Economy Bill and the expenditure to be provided or in the coming Budget, there, is not much sign of any relief at present, and, indeed, we all know how difficult it is to. reduce expenditure in these times. But. we are not down and out." and, on the whole, we have made a good recovery from the crushing effects of the war, and though we have our domestic troubles these will be settled sooner or later and trade will go ahead.
TRADE IN THE FAR EAST.
Mr. Ryrie, after referring to the great loss the bank had sustained by the death of Sir Robert Black and Lord Car michael, said he did not think it could be said that the optimistic views express ed in many quarters early last year were fulfilled, as, whilst figures indicated that industrial companies as a whole' did bet ter than in 1924, our railways had suffer-1 ed, and the depression in our key in dustries had continued. I was the luxury trades in particular which had prospered, and with so mach unemploy ment still existing this was remarkable He did not muggest that there had been no improvement in trade generally, but merely that the improvement had been slow, as one would expect after such an upheaval as that caused by the war. There had been good and bad features. Amongst the good, features he placed, first, the fact that we had returned to a free market, for gold, as "sooner or later
So far as the trade of India is concern- this could not but be of advantage to the trade of the country. The moderated the coming monsoon, of course, is aa progress made in the matter of a settle important factor, but the position to-day ment of inter-Allied debts was another is sound, and with the increase in good feature. As to the bad features in irrigation the monsoon is not so import- the situation a disturbing factor was the ant as in the old days. The price of attitude of the Socialists towards capital rubber has declined, but only to a more economic level, and if there is no set- back in America, then Ceylon and the Malay States can look for another pro- sperous year. The estimates of the rice available for export from Burma and Siam are not so large as last year, but none the less satisfactory, and as there is a good demand we can at least look for normal shipments from Rangoon and Bangkok. "In China, of course, it is im possible to say what will happed, but while trade cannot but be restricted it will go on in spite of the troubles. In Java. the increase in the shipments of) rubber is so large that the low price of sugar is no longer so important, but un- less there is an improvement in the value of that commodity Mauritius must suffer,
THE INDIAN SITUATION.
The political situation in India. had improved, and economically the position was sound. Sir Basil Blackett was to be congratulated, not only upon bis latest budget--which again showed a substantial surplus and was calculated at is. 6d. but upon his sound methods of finance since he assumed the duties of Finance Minister. In India opinions differed both as to whether the time had come to stabilise the rupes, and the rate at which it should be fixed, and also as to whether or not and how it should be linked with gold, but so far as he (the speaker) had been able to judge the balance of opinion seemed to be in favour of a full gold standard at is 6d, with a gold currency. In his view a gold cur rency was not required by the mass of the Indian people.
MALAYA'S PROSPERITY.
I have now to propose:- That the report of the directors with the audited statement of accounts and balance sheet at December 31st, 1995; presented to this meeting, be and the same are hereby "The Chairman then said: I will now received, approved, and adopted, and refer briefly to a few features which are that a final dividend on the "A." "B," of interest to us at some of the other and shares of this bank of a per points in the East and where we have cent. be paid, making 16 per cent. for the branches. In spite of the amusing, out-year, less income-tax as recommended in cry from America against the high price the report and the same is hereby of rubber, we have welcomed the advance confirmed.”
that took place last year in the linterestu Mr. H. Melville Simone seconded; and, both of the rubber companies, who had the Chairman having dealt with a ques- suffered from a long period of deprestion by Mr. P. E. Gourier, who con- sion, and ourselves, and as prices of tin gratainted the Chairman, the board, and and tes were also satisfactory there has the staff on the very fine results achieved, been marked prosperity in Ceylon and the motion was put and earried unan the Malay States. From some publishedimously.
of thanks to the
figures relating to Malayan trade I have Mr. P. R. Chalmers proposed, and Mr. seen I find that, whilst in 1024 the C. J. Hambro seconded, the re-election exports of rubber were valued at of Mr. J. M. Ryrie and Sir David Yule, £1,000,000, the exports last year were B., to the board of directors. The re valued at £87,000,000, and ns about 70 solution was carried unanimously, and per cent. of these shipments went to the auditors were reappointed. America. It is clear that rubber is of A vote
Chair. material assistance to us in effecting the man, directors, and staff concluded the remittances we have to make to América. | meeting. Then, of course.. as the result of the higher prices obtained for rubber and tin, the importa into the Malay States | have increased, and I find that, whilst in 1024 the importa of cotton piece-goods were valued at about £8,200,000, the value of these last year amounted to about £7,400,000, of which about half came from the United Kingdom.
CONDITIONS IN JAVA.
In Java conditions have improved as the result of the increasing production and high price of rubber, but as Java exports about 2,000,000 tons of sugar the fall in the price of this article was an unfavourable feature there sad also in Mauritius, the whole trade of which island depends upon sugar,
CHAOS IN CHINA,
In China, as you know, chaos continues to prevail as the result of Bolshevik pro-| paganda and the want of a strong cen- tral Government, though it is remarkable that trade has not been more seriously affected. The boycott of Hongkong by the "Reds," however, has hit both British and Chinese trade and shipping Tery hard, and at present there is no daylight, while it is difficult to see what our Government can do beyond exercit ing a policy of patience and conciliation, humiliating as it is to know that before leaving Hongkong for Canton all signs of the origin of British goods have to be removed. I need not any that it has Беел difficult and anxious time for banks, but I am glad to say that, so far, we have not suffered, and you will be glad to know that in the matter of the loan to Hongkong for the purpose of assisting Chinese traders and otherwise, we have done our share of the good work. (Hear, hear.)
N
THE ACCOUNTS.
1
Dealing with the accounts of the bank, the Chairman, pointed out that the net profit. had increased by Zi4,953, the ap- parent increase in the expenses last year being entirely explained by exchanget adjustments. The usual transfers,69) £50,000 to reserve fund and £15,000, officers' pension fund had been mad and £20,000 written off biak premises
THE OUTLOOK.
The Chairman went on to Bay: In regard to the prospects for trade general- ly in the current year, it is, of course too early to form any definite opinion, but I notice that many of our leading hänkers are optimistic, and if I do not fully share their optimism I am hopeful and expect that we shall be able to place satisfactory accounts before you this time next year. Though prices of
SILKS.
21
width, before. now, PLAIN, all cotours 27 0.85 0.50 FUJI, plain, super.
29. 1.40
0.95 broad stripe
1.60 1.00
PALACE CREPE,
plain CREPE DE CHINE SATIN CREPE SPUN CREPÉ,
striped
1.30
27 1.75 1.30
2.25
1.65
1.38 1.45
2.50
"
1.50
· 1.10
27
4.50 3.15
"
2.500 1.45
3.00 2.15
+
3.50
GEORGETTE, plais, 40 CHARMEUSE, PRINTED SILK TAFFETA
*
2.65 5.00 3.20
SATIN BROCADE MAHARAJAH.. VELVET GEORGETTE, 13:00 6.90
HOSIERY
STOCKINGS, Lion brand 2.25 1.55 Phenix, 3.00 2.15 Pagoda 2,50 1.75 2,00 1.25
SOCKS, Interwoven
TAPESTRIES.
19.
Indian and Java Printed Articles. Gold Thread Embroideries. Egyptian Tapestries. "Japanview" Cortales.
CURIOS.
Old Enamel Ware on Copper and Bronze as Flower Vasus, &c.
Chinese Brass Ware.
1926
Q
UE E N
THEATRE
S
THE GREATEST AGGREGATION OF DANCING TALENT THAT HAS YET APPEARED IN HONGKONG.
THE
MOSCOW STATE
BALLET.
NORTH-CHINA-DAILY-NEWS:
Superb Exhibition. Saving Pavlova we bave had nothing to approach the Moscow State Ballet. There are really no words to describe the grace of their movements: It is really an unforgettable display. It is two hours of genuine pleasure such as one rarely has.
CHINA PRESS:
Those who failed to see the Russian Ballet at the Carlton Theatre missed one of the most beautiful presentations ever given here. The whole perfor- #mance is one of exquisite beauty.
FRIDAY, April 30th, at 9.15.
Prices: $4, $3 and $2.
BOOKING AT MOUTRIE'S.
GREEN ISLAND CEMENT CO. LTD.
Best Portland Cement.
SHEWAN, TOMES & CO.
GENERAL, MANAGERS,
HONGKONG.
GREAT
SILK
SALE
Commencing
SHAWLS.
Chinese Embroidery.
Shawls of Gorgeous Beauty.
Cannot be matched in the For East
at present prices,
KIMONOS.
RICHLY EMBROIDERED.
SILK
1
CREPE "
Before Now
15.00 9.50.
25.00
16.75
25.00 17.50
., GOLD-DRAGON.
BROCADE CREFE 40.00 26.00
40.00 26.00
**
"
PALACE CREPE
APRIL 30 HOUR GOATS.
FOR ONE WEEK.
-FIXED PRICES FOR CASH.
WHOLESALE STOCK
In Stylish Designs and Lovely Patterns.
MANDARIN EMBROIDERIES
Coats, Skirts and Curtains" of the Old Mandario days, at Specially Reduced Prices,
PURCHASED FOR CASH. CARPETS.
ENEFIT by the OYCOTT
BOYCOT
D. CHELLARAM.
24837
ARGAINS
Peciality of our Business)
Tientsia, Persian, Indian, la varied patterns at specialy reduced prices,
36a, QUEEN'S ROAD CENTRAL.
[A-P.B.]