10
NOTICE TO CONSIGNEES. .
PENINSULAR AND-ORIENTAL STEAM, NAVIGATION . Ca's
STEAMER "MIRZAPORE.“
ARRIVED HONG KONG ** 27 DECEMBER, 1929.
FROM BOMBAY, COLOMBO AND STRATTS.
ONSIGNEES of Cargo by the above
named Vossel are hereby informal that their Goods aro being landed_and placol AT THEIR Ass in the Hong Kong
THE HONG KONG DAILY PRESS, SATURDAY, DECEMBER 28, 1929.
Money and Markets
HONG KONG SHARES. CANTON TRADE
BENJAMIN & POTTS' WEEKLY REPORT.
NOTES.
GOODS AS BACKING FOR CURRENCY.
ITS EFFECT ON COTTON
TRADE.
Mr. S. S. Hammersley, M.P. for Stockport, addressed a meeting of the Manchester Athenæum Textile Society on "The Cotton Trade and Monetary Policy "Inst month.
Sir Ernest Thompson, who pre sided, said at the outset that the Much attention has been paid by question of monetary policy in the the authorities in Chungshan to the cotton trudu was a contentious encouragement of fishing. An ex-question. He could not say that he tensive area along the sea-coast of agreed with everything he had Chungshan has been set apart for beard Mr. Hammersley say, but ho agreed that he had made a study of the production of oysters
this matter and had mastered the subject.
The price of firewood has drop and Kowloon Wharf and Godown Com-
ped upon the arrival of some 10 pany's Godowns at Kowloon, whore each Consignmout will be sorted out Mark
During the past week, the Settle-junks loads from the East River
districts. by Mark and Delivery can be obtained as tent which passed off satisfactorily the Goods are landed.
This Yeasel brings on Cargo from on the 23rd instant, and the Christ- London, &, and from Persian Gulf armas holidays, have almost entirely B.I.S.N. ad B. & P.S.N. Co. a Steamers. monopolized attention, consequent
Optional Goods will be landed bere unless Instructions have been given to the ly very little business has resulted, contrary 4 hania" before arrival of the but notwithstanding this there is Steamor.
good enquiry for most stocks with few sellers in evidence, nearly all of which ended the week with an outburst of strength,
Goods not cleared within 8 day■ including date of arrival will be subject to Kant.
No Fire Inarancs will be effected by us in suy cane whatever.
од
bo
not be
The value of the Central Bank of China notes has risen to 87 per cent of their face value, and is still rising steadily. It is expected that the notes will be quoted at over 90 per cent, before the pad of the year.
*
Damayod Packages must be left in the
Banks Hong Kong and Shang Godowns for examination by the Cor-hai Banks, owing to the further signees, and the Company's Surcoyors, drap in Exchange, have recovered Mesure. GODDARD & Douglas at 10.
to buying quotation of 91,330. Mondays and Thursdays, within the The Leadon rate is £122, 10 Free Storage period.
(Middle). All Claims against the Steamer must
Marine and Fire Insurances, presented to the Undersigned on or balore 16th January, 1930, dr they will alous have likewise advanced to $260. Cantons continue in request recognized.
at 8693, Hong Kong Fires have be placed at hardened and can 8813.
Shipping-Hong Kong, Carton and Macao Steamboats have firmed
The woollen piese-goods market up to 8271, at which rate deals were remains inactive and merchants made. Shell Transports closed apllege that they are doing only preciably higher at 97/10. Other furty to fity per vent. of their stocks in this section are nominal.
normal business. The prices re- main low, and there are no signs of trade revival in the near future.
No Claims will be admitted after the Goods have left the Godown) MACKINNON, MACKENZIE & Co,
Agents.
Hong Kong, 27th Doo, 1829. (8798
HAMBURG AMERIKA LINIE.
NOTICE TO CONSIGNEES.
THE Motor Vessel
"ERMLAND "
Javing arrived, Consignees of Cargo are hereby notified that their Goods are wing landed and placed at their risk ia the Hong Kong and Kowloon Wharf and Godown Company's Godowas at Kowloon, where. Delivery can
be obtained as the Goods are landed.
Optional Cargo will be landed, unless Notice has been given prior to Vessel's No Claims will be admitted after the Goods have left the Godowns, and all Goods remaining undelivered after the 4th January, 1933, will be subject to
αντίνος,
Kont.
All broken chafed and damaged Goods are to be left in the Godowns, where they will be examined on 3rd January, 1930, at 10 m, by our Burreyors, Kusste. Goddard and Douglas All Claims must reach us before the 14th January, 1980, or they will not be recognised.
e Fire Inaarance will be affected. Hill of Lading will be countersigned by the Undersigned,
JEBSEN & CO., Agenta. Hong Kong, 28th Dec., 1929. [8797
NOTICE TO CONSIGNEES.
OCEAN STEAMSHIP CO., LTD.
AND
UHINA MUTUAL STEAM NAVT- GATION CO., LTD.
YONSIGNEES per Co.'s Vessel
"BELLEROPHON"
FROM UNITED KINGDOM VIA
SINGAPORE
Are hereby notified that their Cargu will I discharged into Holt's Wharf, Kowloos, where it will lie at Consigasss' rink and rabject to Terms and Conditions of Storaga 1 Holt's Wharf.
The Cargo will be ready for Delivery from Ucdowa on and after 27th December.
Optional Cargo will not be landed here, nalas Notice has been given prior to Vessel's arrival, but carried of from port to port to the final port of call to which the option extends.
All broken, chofod and damingod Goeds are to be left in the Godowns, where they bi examined or any Tuesdays and will Fridays between the hours of 10.45 AM And Noos, within the Free Storage period. No Claims will be admitted after the Goods have left the Vessel's Godown, and all Goods remaining undelivered after 3rd January, 1930, will be subject to Hent, All Claims against the Vessel must be presented to the Undersigned or or before the 17th January, 1930, or they will not be resignised.
No Fire Insurance will be affected.
BUTTERFIELD & BWIKE,
Agente
18751
26th Dec., 1929.
NOTICE TO CONSIGNEES.
OCEAN STEAMSHIP CO., LTD. UHINA MUTUAL STEAM NAVIGATION CO., LTD,
CONSIGNEES per Co.'s Vessel
"DEMODOCUS"
FROM UNITED KINGDOM Vĩa
SINGAPORE
i
Docks, Wharves and Godowns. China Providents were put through at the improved quotation of 831 Hong Kong and Kowloon Wharves, after changing hands "at $140 are now in request at 8141. Whampoa Docks nt $2 have not moved. Shanghai Docks are wanted at Tia.
Our
Mr. Hammersley began his ex- amination of the subject by coni- sidering the part played in national life by gold (1) as a com modity, (2) as a meas of inter- national payments, and (3) as the basis of our system of credit. In regard to this third division he said The groundnut oil market has it was obvious that the circum- been active of late. There bas stances which caused gold to leave been a brisk demand for that pro-the country were those which would duced in Kwangtung as the price result in the restriction of credit the oil, from the to industries.. We had to ask our- lower than
was right oT northern provinces, the price being solves whether it about $9.50 per picul.
wrong that this should be so.. Was there any necessary or desirable connection between the flow all credit and the quantity of gold in the Bank of England -During the last year the United States and France bad each gained over 270,000,000 of gold. England, on the other hand, had lost about £31,000,000. Was there anything to the industrial history of these three Since the resumption of the countries which should make it Chaton-Ilankow Railway passenger casier for the industrialists in two and cargo services, large consign-of these countries to obtain credit, ments of native products have been but harder for those who had to deal with the problem of finding work and wages in this country?
+
ទ
#
•
101. New Engineerings at Tls. Tarriving from the northern districts, The daily proceeds from the cargo unchanged. Lands, Hotels and Buildings-trains have exceeded 810,000 since Hong Kong and Shanghai Hotels Saturday last. after having receded to $11 are in strong demand and were booked up to $11.90. Humphreys Estates were dral in to a fair extent at $11.60. Hong Kong Lands are higher with Realty's also buyers at 8013. stiffened and were negotiated up to 80.
Paldi tilities.-Hong Kong Berries hvae claimed upwards steadily and closed with buyers at sco!. Hong Kong Trams have re- Vered somewhat and are in de and at $18.70. China Lights have shown renewed strength and realis ed 818) at the close. Star Ferries have remained steady at 809. Telephones were bid up to 88.30.
MiserBaneous. -- Green Island Cements were. fairly active and rose to 81. Hong Kong Ropes have ad- vanud to $74, Lane Crawfords were bought at the improved price of $21. Dairy Farms were bid up to $21.
Cotton Mills.-Ewos were booked at Ts. 15 and continue in demand. Shanghai Cottons are enquired for Si TIs. 75.
Days,
Forward Settlement January 24, February 20 and March 23, 1920.
RUBBER.
"A PERIOD OF STAGNATION,"
fcssrs. Pentreath & Co. have forwarded us the following letter, dated November 27, from Messrs. Honday, Flewelyk & Co. Liver. pool :--
The market appears Lo have entered a period of stagnation at current prices, business having con- tracted to very dimensions.
The detailed rept of the Rubber rowers' Association on the subject & Central Selling proved to be very moderate in, character. A point in the report which stands out prominent is that 50 per cent. of the production is controlled by Asiatics, who, it is frankly admit- ted, would not be amenable to any theme of Central Selling.
The report may therefore be con sidered as disappointing, partica- larly so as even if the scheme were acceptable to the general body of menibers of the Rubber Growers' Association, it would take a very considerable amount of time to put' it into practice.
For all practical purposes, there- fore, the Industry has now to work
•
+
Foreign fruit, especially oranges and grapes from California, have been imported in such large quanti- ties this year that the market for Chinese fruits has been greatly affected, despite the fact that there are abundant eropa. of fruit in Kwangtung this year,
Why Gold Goes,
An 13
'The circumstances which caused Preserved duck is the chief pro-this country to lose gold were, first duct of Nanan district and large and most important, inability to sell quantities are exported to Malaya sufficient quantities of goods abroad, and America for overeas Chinese, and, secondly, over-lending. On The production has greatly decreas this matter of inability to sell sut- ed thin gear owing to sickness ficient quantities of goods abrond, among the ducks and the price is the question our industrialists bad now 81.70 per catty..
to ask themsclyes was this: When industry is suffering from ability to produce at competitive prices, will a restriction of credit make it more able to compete or will it not? Perhaps the most pregnant industrial lesson of post- war years was the great saving in cost of production per unit which can be made by mass production. The way to reduce the cost of pro- duction per poit was to make more, said the industrialist. The mechanism of our monetary system was sa arranged that when our costs of pruduction were too high we were forced to make less. You had a direct contradiction of in- terest between fuance and indus- try.
COMPANY MEETING.
CHINESE ENGINEERING AND
MINING CO., LTD.
The annual general meeting of. the shareholders of the Chinese Engineering and Mining Co., Ltd., was held in London on December 16, 1020, when the Directors' report and statement of accounts for the year ended June 30, 1029, was sub- rmitted.
Extract from Directors' Report.
The net result of the year's trans- action shows a balance to the credit and profit and loss account of £447,438 made up as follows:-
Proportion of Kailan Min- ing Administration's pro- fits plus interest in China..... Interest in Europe Agency fees. Sundries.
Balance brought forward.
(less sundry items)
Deduct:-
Expenses in
Europe... 16,501 Directors' fees and
percentage... 11,404 43
Exchange Donation to miners
relief fund
.... Income-tax
Interim dividend paid on May 8, 1920
2,000 83,416
140,000
£359,193 32,917 6,000 11일
300,556
As for over-lending, again we had is it right that to ask oure ves over-lending to a foreign country. should be able to dry up the Bow' of credit to struggling industries? The answer clearly was, that it was not right. In fact, we could say that if it were not for the fact
that a currency based on gold had in practice been found the most effective safeguard against the over. issue of paper currency, there was no reason why the amount of gold in a country should form the ex- elusive basis of curreriey. But if we were not able to put a suf. ficiency of gold behind our cur- rency, what could we put? In an industrial country like ours what could be better than our industrial production To guard against over- issue that is to say, inflation-it was necessary that the production on which the currency is based should be goods produced for sale. In the words of the economist, credit should originate in produc- tion and terminate in consumption. A cane could be made out fo show that the currency, instead of being based on our gold reserven, ahould be based on ur wealth pro- duets. It was necessary, however, that there should be some safe- guard against the over-issue of currency, and this was to be found 283,370 in making the wealth products which back the currency I a self-
£700,808
out its own salvation according to Leaving a net balance of £447,438 liquidating character, thus ensuring
the law of supply and demand.
Final dividend of 10 per cent. (free of intome- tax)......
£140,000 Balance carried forward... 307,438
are hereby notified that their Cargo will be This will probably be a long and which the Directors, recommend discharged into Holt's Wharf, Kowloon, difficult process in the course of should be appropriated as follows: where it will be at Consignees risk and which prices may go lower, than aubject to Torms and Conditions of they have been for years. It is even Storage at Holt's Wharf. The Cargo will not impossible that values may be ready for Delivery from Godown on reach lower levels than have yet and after 27th December,
Optional Dargo will not be landed here, been recorded, but this would be a unless Notice na boen given prior to passing phase, as we believe that Vessel's arrival, but carried on from ultimately the demand for Rubber port to port to the final port of call to will be sufficient to take care of the which the option extende.
£447,438
that the bills issued against them should be redeemed at their dates of maturity. This arrangement en- sured an automatic adjustment of Currency and credit, thus prevent ing what was known as inflation or reflation. In other words, what was aimed at was automatic stability. The gold reserves were necessary for purposes of international pay
TO-DAY'S WIRELESS
PROGRAMME.
BROADCAST BY Z.B.W.ON 335 METRES.
11 to 11.30a.m.-Commercial newà.
programme.
12 noon to 1 p.m.-Demonstration 1.18 p.m.-Weather report. 7.45 p.m.-Evening weather report. p.m.-Programme of Victor and H.M.V. records supplied by. Measts. Moutrie: Geus from "The Student Prince
יו
in Heidelberg, Chorus; "Stud- ent Matching Song," Tesor, and Baritone; Go.den. Days," Chorus Serenade, Soprano and Tenors Deep in My Heurt," Chorus: "Drinking Song" (Dorothy Donnelly- Sigmund Romberg), Violor Light Opera Company." Gems from The Love Song,"
9.20
|-
י
Chorus: "Yes or No," Bari- | tone Solo; "Only a Dream," Tenor and Ladies Trio; "He Writes a Song," Contralto and Chorus Love Song (Remem-
(Smith-Kunneke- · ber Me) " Offenbach), Victor Light Opera Company.
Dance music.
p.m. "Geisha"- Selection (Jones) and Belle of New York" Selection (Kerker), Band of H.M. Coldstream Guards.
Dance music.
10 p.m.-News bulletin.
Danse music. 10.30 p.m.-Chinese programme. 11.30 p.m.-Close down.
SUNDAY.
10.55 8.m.-Morning Service relayed
from the Union Church. Volun tary Hymn, Jesue, Lover of my soul; Prayer; Lord's Pray- er; Hymn, Fountain of good, to own Thy love: The Lesson; Children's" Address; Children's Hymn from Greenland's ey mountains Voluntary; Silent Prayer Prayeray Hymn, Hark: the song of Jubilee; Address, Rev. F. C. Young; Hyan. The Church's one foundation; Bene- Anthem; diction;"" National Voluntary. 12.10. (Approx.) to 1 p.in.-Chinese.
programme.
1.18 p.m.-Weather report,
*
p.m.-Programme of Columbia cecords supplied by Messrs. Anderson, "Zampa," Overture, Parts 1 and 2 (Herold), Sir Dan Godfrey, "Toccata
(Gigout and Boelt- mann), Organ Solo by Edouard Commette.
"No, No, Nanette," Vocal Gems,
Parta 1 and 2 (Harbach, Casar Scars and Youmans), Columbia Vocal Gem Chorus with Orch. "Hungarian Dance in D Minor" (Brahms-Joachim) and "CVE- tina" (Raff. Op. 85, No. 3). Violin Solo by Arthur Catterall with Piaco. "Faust-Soldiers' Chorus " and “Faust-La Kermesse" (Goy- nod), Chorus, und Orchestra of the Theatre National De L'Opera, Paria.. "Dancer of Seville" (C. Grunow) and The Two Imps" (K. J. Alford), Sir Dan Godfrey. "The 'Ole in the Road," Parts 1 and (Seamark "), Humor- ous Sketch by George Graves (The Man in the Hole) and Myles Clifton (The Dude). "Delius: Summer Night on the
."
River," Parts 1 and 2, Sir Thomas Beecham and Royal Philharmonic Orchestra. "O Salutaris" (Webbe} and ""Tan- tum Ergo" (Traditional), Lon- don Catholic Choir with Organ. "Sonatina in D Major," Parts I and 9 (Schubert, Op. 137, No. 1), Albert Sammons (Violin) and William Murdoch (Piano- forte). "Nights of Fragrance" and "Vien- na Maidens, Waltz (Zickrer), New Concert Orchestra. "Everybody's Medalies," Parts 1
and 9 (arr. J. H. Squire), J. H Squire, Celeste Octet.. 10.30 p.m.-Close down
RUBBER AND MINING SHARES.
Messrs. Carroll Bros, have been advised of the following dividends on Rubber and Mining shares:---
Malayan Collieries-7 per cent. int."
Pajams.-10 per cent. final. Alor Gajah.-7 per cent. final. Maleka Pindai-5' per cent. '. Kundong Rubber.- per cent.
final.
Sungei Ramal.-73 per cent. int. Tronoh Mines.7 per cent, final and 2 per cent, bonus.
capitalise the major part of the un-internal credit position. As far as The Directors haye decided to ments, but should not control the supply at reasonable prices. Stocks: London 31,012 All broken, chafed and damaged Goods
tons, distributed profits and reserve and our present monetary system affect ed. the cotton trade it tended to ars to be left in the Godowns, where they Liverpool 17,479 tone; net increase they propose, therefore, to carry will be examined on any Tuesdays and of 880 tons.
to general reserve £280,000 from slow down production and not to Fridays between the hours of 10.45 AM, Close London last night: Spot profit and loss account and £280,000 crease it. We required a mone, and Noom within the Free Storage period. 8d., Jan./March 81d., April/June from the existing reserve, account-tary system which will help, not No Claims will be admitted after the afd. July/Sept, sid., Oct./Dec. altogether £560,000 and that this hinder, the very necessary progress Goods have left the Vessel's Godown, Did., Jan./Dec. 1031 d.
Bum bo capitalised by the distribu- of reorganisation and co-operation and all Goods remaining undelivered Our New York correspondents tion of $80,000 fully paid shares through which our staple Lancashare. after the 3rd January, 1930, will be called last night that the trade is at the rate of two fully paid shares shire industry in the coming years wubjectto Beat,
absorbing all offerings of Decem for every five shares held.
All Claims against the Vessel maat be presented to the Undersigned on or before the 17th January, 1980, or they will not be recognised.
No Fire Insurance will be affected,
UITTERTIRED & SWB
Agents.
26th December, 1929.")
(8792
The
must pase.
Idris Hydraulic-5 per cent. int. Tanjong Tin-3 per cent, int, Takuapa Valley Tin.-9d. per
ber rublier. Our friends believe Board of Directors will be entitled,
Colchester.Rifleman Arthur. Ver- there is still a short interest, but in respect of the profits so capitalis-
non Lilley, 20, of the 2nd Battalion extender notices are being cired to £13,200 which will leave a
The Rifle Brigade, stationed at culated.
balance of £27,438 at the credit of
[Daily Share Quotations will be Colchester, was found dead in his bed with a bullet wound through profit and loss account and £102,800 found on page 9 of this issue.)
the beart Home, duenakostigstel the wredit of dixisting serve account.
· leave for India, -.
Close New York last night Guy two. Watak Tito, Alay 17.50c., September 18.50c.
|JAVA-CHINA-JAPAN:
JCJL
York Building
LIJN:
Tel. Address:
JAVALYN
Tel. Central 1374
REGULAR PASSENGER & CARGO SERVICE BETWEEN HONG KONG SWATOW, AMOY, SHANGHAI, MANILA AND THE DUTCH
EAST INDIES.
SOUTH BOUND.
EXPECTED
FROX
ON OR
WILL LEAVE ON
Foa
to
AMOY
LADET
|TJILEBOET
29th Dec.
TJIKEMBANG Sm. & Axor 30th Deo.
TJIKARANG S'aai. & Amor 9th Jan,
TJISALAK
TJIBADAK
*
AMOY
+
|12th Jau.
B'ai & Amor 19th Jan.
1
Sist Doc., MANILA, M'XSAR
Noon
1st Jan...
Nood
11th Jao..
Noon
·É SOKRANAIL
BATAVIA
BATAVIA
M'ISAB
14th Jan., MANILA,
Noon & SOFRABAJA
21st Jan, ManILA, M'KAAR
Noon
NORTH BOUND.
WILL LEAVE ON
OR ABOUT
EXPECTED
STEAMERS
FROX
ON GE ABOUT
TJIKARANG .. BATAVIA 28th Dec. TJISALAK .. JavaManassas 3rd Jan. IJIBADAK
BATAVIA 8th Jac.: NISAROEA... JAYA,Makassar 18th Jan. TJISONDARI.
BATAVIA 2nd Jan.
KAMODIAN-
GAROET
BORRABALA
FOR
29th Dec, AMOY & S'HAS,
6th Jan SWATOW & Á KÚT 9th Jan. Axor & S'HAL 20th Jan. SWATOW & AMOT. 23rd Jan, AxOT & S'HAI,
JAVA.
· BANDOENG — PAPANDAJÁN~-~ SINDANGLAJA — TOSARI— NGAM PLANG-TJISOEROEPAN —
NONGKODJADJAR WANASABI.
What do these Names mean?
A chain of good hotels in cool mountain-resorts in a chain of scenic, volcanic mountains.
All inclusive tours from 3 to 4 weeks, re. membered for a life-time.
For particulars apply to:-.
JAVA-CHINA-JAPAN LIJN.
Agents :-
ROYAL NETHERLANDS INDIES AIRLINES, LTD.- York Building.
BARBER
VEENZA TRY LINE
EXPRESS
PAKARR
SERVICE
Telephone C. 1574.
1575. 1555.
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LINE.
THE PREMIRE ALL WATER ROUTE TO NEW YORK
and other U.S. Atlantic Forts via Panama.
All rescla call at SAN FRANCISCO and LOS ANGELES
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Paassagers desiring to travel by this interesting route will find the accommodation provided well up to their expectations, and at a cost most reasonable.
42 Days To New York
For Passenger and Freight information please apply:
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Queen's Buildings.
Agents.
་
Telephone C. 1080.