THIS
WEEK
Aquascutum
OVERCOATS
AND
RAINCOATS
one third off
marked prices.
Mackintosh's
THE ASIA COAL & BRIQUETTING CO., LTD.
Manufacturers of Coal Briquettes under the registered trade came "ROKETS" Supplied in 3 different qualition.
RULING CASH RETAIL PRICES
A quality known as "Steam Gokots"-$20 per ton or godown,
B quality known as Furnace Gokets":-$20
O quality known as "Smokelse Goketa":-31850
Hong Kong or Kowloon.
"
19
Delivery charges for Household
·Hong Kong: -(1) Penk districts (above Bowen Road)- .....$4.00 per ton,
(2) All roada ahoro Caine Road and Bonham Road
and below Bowen Hond
- (3) Caine Road and Bontàm load
(4) Pokfulam as far as Sassoon Road
+++
Wanchini and Causeway Bay (beyond City Hal.83.25. (8) Low Lurely
...
...8.50 N "
$8.25 $9.50
$2.50 »
19 re
" 4
H ++
#
Telephone $1985,
Kowloon All parts of Teim Ba Teui, Yaumati, Mongkok,
Bungbom, Kowloon City and Laichikok .. $1,00 Lots of orton will be delivered at full rates,
Office:-China Building, 2nd floor.
Parfumerie Rigaud
PARIS..
"UN AIR EMBAUME'
Flacon de Lure Grand Modele.
A Hygienia and Refreshing Porfume in groat favour on all Qvorsen Markets.
ÜSTAINABLE TRON
A. S. WATSON & CO., LTD. THE PHARMACY.
THE COLONIAL DISPENSARY
WING ON & CO.
THE SUN CO
SINCERE CO.
AGENTS:
VICE TE ATIENZA & CO.
No. 54, NATHAN ROAD, KOWLOON,
TEL. 67155..
WHITEAWAYS
TRAVELLING GOODS.
NEVERBREAK
TRUNKS
TRUNKS
TAXI LUITCASES
AIRPLANE SUITCASES
SOLID LINEN- BAGS
ETO, ETC.
NEVER BREAK” TRUNKS We have just received a new consignment of the famous "Never Break" Trunks in Cabin Wardrobes, Medium Size Wardrobes, and Taxi Wardrobe Trunks. Absolutely the last word in travelling equipment.
Taxi Wardrobes from $65.00 Cabin Wardrobes from $125.00
ETO, ETC.
CALL AND INSPECT, FIRST FLOOR SHOWROOMS.
WHITEAWAY, LAIDLAW & CO., LTD.
HONG KONG.
HONG KONG DAILY PRESS, WEDNESDAY, FEBRUARY 25, 1931.
BALANCE IN COMMERCE
MEMBER OF BRITISH ECONOMIC MISSION
AT ROTARY CLUB LUNCHEON,
THE AGRICULTURIST AND THE PARASITES; ONE REASON FOR CHEAP LABOUR.
A very interesting talk on "Balance in Commeres" was delivered by Lieut. Col. R. K. Moreom, O.B.E., i menüber of the, British Economic Mission, at the Rotary Club luncheon yesterday, held at Mesars, Lane, Crawford's Restaurant.
Licut Cal. Mereom pointed cut that the engineer was too often blamed. for foisting on the world the monsters of indus trialination. The engineer's primary object was to savo labour but. it was others who assumed that their primary uso mna to increase " output.
The speaker in the course of his address said that cheap Iabourers, men, women and children, sought employment in enstorn factories, largely to escape from the traidons of agriculture. The women were botter off in the factories than in the fields, the children were much better with their mothers than leftiuntended in the streets.
"TINKERING WITH POLITICAL SECCOTINE."
Why?
Utopia.
But, granted that our trust ondeavours must be towards a stondy improvement of industrial. Conditions, we shall and that to ensime it, a very deliento adjust- ment correctly made produces com. mercial balance. I suppose perfect balance could only exist in Utopia, There, agriculture would produes, just what, the world required in adequate supply. Trade and com- unications would be such as to dis tribute that supply equitably, Finance would maintain a oredit system neatly adjusted to the needs of trado and Estribution. Labour would be ao trained as to find full remployment and the flow of recruite to its ranks would be so controlled as to be absorbed in rensaned evolution.
Twenty years ago, after a cyclo of increasing prosperity, the world. seemed bearer to -commercial balance than ever before, and mors harm was done by the Great War. in disturbing the balance than by all the wasto and destruction of 'actual warfare. Labour was dis- loated, first by the call to the armies, then by diversion of pro duction to those, industrie, which war conditions demanded.” Mon changed their trades to suit the changed conditions and the trend of recruitment made the change more lasting. The means of "pro-, tended, and the resultant re-capita- duction were re-applied and ex- antion nade this derangement permanent.
Finally, finance was mobilised, and in the process, many unsound methods were adapted, and much inlance was destroyed, the compli
-distribution took place. The cated fabric af industry fell to the ground,, and all our endeavours have so far failed to set Humpty Dumpty up again.
Turning the Blind Eye.
The chairman announced that new members of the Chib were
In our daily life we are so taken Rotarian J. W. Bundred and up with how, when and where, that Rotarina Alfred Morris. He wel."why" is often squeezed out of comed Messrs, J. L. Edmondson, our calculations Why do we over- Joseph Wild, George Green and F.produce or under-consume 1. Why, A. Barnes, merabers of the Economic even, should we buy or sell at Mission, and Mr. B. Balworth, of are vital questions, but by 90 per the General Electric Company, acent, of those concerned are regard non-Rotarian visitor
ed as merely of academie interest. In introducing the spanker, This negleet of "why" is respon Lieut. Col. R: K. Morcoin, C.B.E.,sible for much of the current loose thinking and neglect of fundament. the chairman said that he was a
of truths,
We are too inclined to discuss director of Lloyd's Bank, a director
our diffeulting as if they had some We even forget that Man is an quite different cause, but it really of Messrs. Bellies and Morcom, snimal who, before he can do any looks as though, once again, we thing else, must eat, so that the Ltd, and chairman of the British essential worker is the agricul were turning, a blind eye Electrical and Allied Manufactur- turist Governments, traders, in fundamental fact.. Politicians and ors Association. He served with dustrialists and industriad workers financiers, by one expedient or an- ere merely parasites on agriculother, by one palliative or an distinction during the war.
ture. All the parasites need food ather, have tried to moderate the Speaking on the subject of ing, and the whole complicated shock, only to find themselves fac Balance in Commerce," Lieut.-ructure of civilisation is devised to ensure their food supply and to Col. Morcom said:-
enable them to eat it in comfort, Mr. airmou and assembled variety and security. In rotura, Rotarians,--Having had the pri-the parasites, must render service to the farmer by lightening his vilege of picking the braing of 50 bour, by transporting bis surplus, many of those present, I have come by supplying him with clothes,
living
on A
by increasingly dimeult pro- ems. Labour is still misapplied, overproduction is rife in the in- fated trades, all the world still tries to make and sell the things regardless of natural deve- Jonment or appropriate enterprise. music and start restoring balanes What we should do, is to face the
same
to the conclusion that it is not as utensils and other amenities, and rather than tinkering away, with an engineer that you have asked melly raising his standard of to address you,' but 'as a member of an economic mission. I do not know exactly what is a suitable sub. jiet for a post-tiffinal address but I have a fair idea of what is not.
"In Vino Veritas."
political scocótine; We must.weed cut unwanted producers, cut out superfluous capitalisation, apply labour reasonably rather than speculatively, and adjust the un- oven rewards in the ranks of lat our itself, in particular by im- proving the reward of agricul ure, Unless we do, crisis will fol low crisis, and catastropho will follow catastrophe in ever increas
I am afraid that industrial sorkers the world over are so busy calling other people parasites that hey forget to apply the epithen to homselves. Yet, when your British workıran elamours for his cheap ten table or his chrao rice pudding, to is directly encouraging under. For instance, the effect of the payment in ten and rice producing Countries. We may deplore cheap diversity factor on the price of labour or child labour in othering waves. electric supplies, or the use of high countries. Int that does not stop look for guidance in these hard It is to the economist we should us from buying cheap pair of superheat, on shipboard would be Jpanese socks, or a cheap piece al times. If economic science is n much too indigestible. Experience Chinese silk, thereby giving tacit reience at all, which I sometimes shows me dit ríhat you really, like consent to the very conditions we doubt, it is the aefence of commer
I cannot help feel- is some soothing subject, such as deprecate. And it is not to the tial balance. "Thoughts on Present Dixontents," point to cast the blame on greedying that, like us, traders and.
employers.
workers, they too are somewhat shaky on fundamentals. Their or Trade Depression,"÷(Laugh-
pursuit of the gold standard is ns ter.) There is another reason for
full of adventure as the pursuit I the Golden Fleece. The cloud with the silver fining still hangs over the East, obmuring the ris ing sun.
Thraldom of Agriculture.. avoiding an engineering topic. children.
Cheap labourers, men, weinen and Beck employment in There are lines when engineers are eastern factories, largely to escaps extolled as innefactors of mankind, from the thraldom of agriculture. but in the state of mental clarity and of organised industry A direct result of the chrdo- food which usually follows a heavy The women are Letter of in the Linch, I do not think that idea factories than in the fields, the would be accepted. As the proverb thildren are much better with their mothers, than' left untended in the says in rins, or beer, or whisky, as The onse may be, veritqs,.
if their gold standard is much As an engineer, Toften wonder
better than our pld standard of
power, "the work of one horse," before we but it into scientific
shape..
KAIPING HOUSEHOLD COAL
In Lots of not
less
than
--: 0201-1*
Delivered to Poak District (above Bowen Road), $24.00
ром вод Delivered to Bowen Road and Lower Levels, $22:00 per ton. Delivered to Pokfulum Boxil, $24.00 per ton, Delivered to Kowloon,
$20.00 per ton,
Ondesr should be sent in writing not
by telephone
at least 24
hours before
the Coal is required,
...All orders must be at- companied by Cash, Choque, or Compra- dore
Order
parablo to The Kallan
Mining Ad-
ministration."
THE KAILAN MINING ADMINISTRATION.
DODWELL & CO., LTD., Agents, Hong Kong.
For your home.
Tea is as important.
as salt, sugar or any other commodity. Lip- ton's Tea goes further than that it gives you enso in the knowledge that you are serving your guests and family the Finest Tea In The' World:
Every housewife knows this. That is why Lipton's has the largest sale in the world.
By APPOINTMENT
KING GE
HOIGEST
LIPTONS
COMPANY MEETING. shareholders on December 29 last
HUMPHREYS 'ESTATE & FINANCE CO., LTD,
Á PROFITABLE YEAR.
to annelion an increase in expital. The capital of the Company, was Inat increased as long ago as 1904, nad you will no doubt, have ob served that against cur capital of a million and a half, we have 82,700,000 invested in property. Apart from this your directors cons sidered the time opportune to take 'advantage of the money market, and we do not anticipate any dif- The annual general meeting officulty in maintaining the usual. streets. In fact, the mothers would I often feel that economists for Humphreys Estate and Finance dividend of B per cent, on the in- probably go on strike if they could get that they are dealing in a
Co., Ltd., was held in the Hong creased capital, which will rank for. Let it be conlessed here that the net have their children with them.
dynamie, and not a static, science, Kong Hotel yesterday, when Mr. dividend as from May 1, 1931, If there are abuses, then given that their quantities are most Henry Humphreys occupied the Rent account has only increased engineer' is the real villain of the chance, public opinion will be 4- piece. Without him, we should still are cure, for I am a great believer vectors, and as such, only obey the chair Others present were:-The by 80,058 89 but it has to be borne Hon. Mr. C. Gordon Mackie, Mr.in mind that our now flats, on May living in the good old days of the force of public opinion, and laws of simple arithmetic in ex-
J. H. Taggart, Mr. J. Scott Har-Road, were only revenue producing fint arrows, homespun, carts and clearest working of what, Tennyson of retail prices" or "speed of
ece in its stendy improvement the ceptional tases
Occasional phrases, such as "lagston, Mr. J. M. Alves (Directors), from July 1 last.
Mr. J. L. Quie (Sceretary), and I do not think there is anything coucles. He his 'replaced these by calls the "ong unerasing purpose."
Messrs. J. D. Humphreys, further that calls for comment. destructive arusiments, grass pro- maintain that public opinion un circulation," show some realisation
Bernard Brown, F. Austin and D.now beg to propose that the sum of duced textiles, lorries and liners. done more towards human better of facts, but generally they seem
E. Chark (shareholders).
6193,501.65 available for appropria-. Einstein would tell you that if ment and more towards humanete me to be still back on two and
tion, to alloented as follows- a body is in, swift motion, its legislation than the trades two make four. They forget that dimensions are no longer constant, unions in the world. It de even if two and two happen to be in
Pay dividend.of 80 but are reduced in the direction of Erguable that agitation. By provok: opposition they will make just motion. So engineers, by speeding ing antagonism, has goed up, the nothing. They tell us that if we
The profit is some $19,000 better up the processes of humanity, have process of evolution, The true fue send out one thousand pounds than last year, but nearly $14,000 co reduced the size of the connomio tion of organised Inbour is often north of goods, in due course of this is accounted for by appro-count world that nations justia one an obscured, by accepting surmise in
shall get one thousand pounds
Feserve for share defalcations after ather, and what were simile affairs stead of fact. For instance, good worth back. But how will that printing the badance at credit of of family or clan take on an inter-employers of labour do not fear the profit us If, in the meantime, we paying for all expenses and satis national aspect. Had it not been competition of bad employers, and have died or become bankrupt?, for this speeding up you would not do not ask the help of the temales Let us priy for an economic sing all claims,
be plagued by economic missions unions in that competition. They Joula or Kelvin to put their
ocionce among the sciences. Then
the maintenance of commercial.
balance will be more easy of achievement.
Chairman's Speech. Addressing the meeting,
Chairman said:
the!
I may mention here that we now have a half yearly nudit of the sharo register and, transfers, which accounts for the Increase of $400 under the heading of auditors' fees,
"cents" per" share .....,8120,000.00;")
Transfer to special re
pairs and renewals
788.15
Transfer to a building Carry forward to new
improvement necount 18,000,00
profit and Joss ‚nd cont
47,775.50
8193,661.85
After the accounts have been conded, I shall be pleased to answer any questions shareholders may wish to put.
Mr. Austin seronded the proposal
In fact, most of you, would not be welcome the trades uniong because hure at all. .
they son in them the best chance But that is not the end of the of securing co-operation with their indictment, for it was the engineers workmen, in the interests of
In expressing thanks to the who foisted on the world their humanity and efficiency.
Turaing to the balance sheet the Frankenstein's monster of indus This brings me to another funda epmaker, Rotarian Robertson said
that he agreed with what Liout. amount invested in land and build. trialisation. Under the tender care mental point, too often forgotten, of papitalists and their attendant that all industry and not merely e Col. Mormom had said in the openings has increased by $89,875,31 re-which was carried unanimously, artisans, the monster has grown to rection of it, has but one end, arding part of his address with representing further expenditure on such huge dimensions that his run that is to raise the standard ofgard to the necessity for clear With regard to the paging becomes more and more living, for the whole world, and not thinking." difficult to control.
only for itself. It has been urged position of economic science, he I do not think that the engineer that this oneness of industry could did not think that cognomists should get all the blame for he be better realized by admission of could produce an exact science. or. primarily made his machines to employees to the councils of the claim to do so, as the material on anve labour; it was others who an employers, and I would muggest as
which they worked was constantly inned that their primary use was even more likely to do good the moving and changing.av fundamental misconception which counests of the trade uniota. there would be no meeting of the CBuses the economist to spend Their presence might be a whole- Club next Tuesday. The next much time trying to square the some corrective to loose thinking meeting, he said, would be on Tues vicious circle.
and precipitate action?
day fortnight.
Election of Officers the four new flats and ton garages. at May Road, On the liabilities The Chairman then proposed that side, special repairs and renewals Hon. Mr. C. Gordon Mackie, account has been reduced by Mesars. J. Scott Harston, J.-M. 80,041.20. We propose transferring Alves and JH. Taggart be re- $10,788.10 to this account bringing elected on the board of directors... it up to $20,000.
! This was, seconded by Mr. Bernard You will notice that the over-Brown and was carried unanimous.- draft with bankers ja approximate. Ix.. Megren Percy Smith Seth E. jy 'n lakh and ¤ Half Wore than that ""reining "Eng' mokers, 1z0ntelę -
year, and this was one factor that Davis were re-elected auditore on prompted your directors to call an the proposition of Mr. J. D. Hum extraordinary general meeting of phreys, accond by Mr. D. E. Clark,