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Watson's Corner, Alexandra Building,
Chater and Des Voeux Roads.
MAXWELL
Red Hackle
WHISKY
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AGENTS:
W, R, LOXLEY & CO.,
Howo Howe, .
STAR
SATURDAY, MARCH 28th.
1 NIGHT Only 1
THE MOST EXTRAORDINARY ARTISTIC AND SCIENTIFIC MUSICAL INVENTION OF OUR CENTURY
MUSIC
FROM THE
ETHER
introduced by
MAURICE and GINETTE
MARTENOT
An extraordinary instrument with strange vibrations singing like the HUMAN VOICE, VIOLIN, CELLO, FLUTE, etc.
Booking at Moutrie's and Star. Prices: $4.40, 88.80, $2.20, 81.10.
Hong Kong Weekly Press
Hong Kong Company Meetings
St. Patrick's Society Ball
Death of Sir Charles Eliot
HONG KONG DAILY PRESS, TUESDAY, MARCH 24, 1931.
SHANGHAI GENERAL CHAMBER OF COMMERCE.
VARIED TOPICS, DISCUSSED BY CHAIRMAN 'AT ANNUAL MEETING.
The annual meeting of the Shanghai General Chamber of Commerce took place in the offices of the secretaries, Mestra. Beck & Swanu, North-China. Buding, 17 The Band, last Tuesday, when Mr. H. W. P. MaMeekin presided, sup- ported by R. N. Swann, secretary,
The Chairman said:-The report and accounts have been in your hands for some time and with your permission I will take them ne read, I will ask you to adopt them
in due course.
The Report, deals vory fully with the many matters which have called for your Committee's attention during the year and it leaves litile,
for me to add,
`the
|
quotations declined gradually from then until the end of May when a distinct weakness exhibited its and rates fell sharply to 1/5 at the beginning of June.
At this point some resistance was forthcoming caused chiefly by the operations of gold bar speculators and rates rose to 1/7 in Soptem her, but towards the end of the your weakness again set in and wo
closed at the lowest official quota tion of the year: 1/4.
G
Since the opening of the present year a further sharp decline, has to be recorded and by the middle Fobruary Silver fell to 12d, per ounce with the taol quoted at 1/38.
value various
world recovery from the present economic crisis than in any arti ficial measures which, would only be of a temporary nature.. "We in China, are, as you are aware, par- ticularly dependent upon the value of silver for therein lies the buying power of the country and at the present avel it is quite impossible to do business in many of the main lines of imports such as Cotton Piece Goods. One might normally expect that the present low silver loval would, analile China to reap considerable benefit from her export trade, but whilst admitting that the world markets are generally in
In my remarks at the last on
The Remedy for Silver, nual meeting I referred to the amount of time which your Com This imprecedented price for the mittes had found necessary.to de.mptal brought forth not only from voto to pilotage questions; during producers but also from those do
year under review several pendent on its changes of importance in the tariffa achomes for rehabilitating silver, of the Shanghai' Licensed Pilots' but it would appear that the re Association and the Woosung-medy lies rather in the gradual Hankow Pilots' Association wore instituted, resulting in a consider ably heavier furden on shipping companios, In the case of the Shanghai Licensed Pilots' Associa tion, however, your committee has been successful in obtaining the creation of a reserve fund by the setting aside of a percentage of earnings each month. This sink- ing fund is to be applied to re- placement of existing plant and equipment, and the Harbour Mas ter has informed the Chamber that the roserva fund will be handed over to whatever authority takes over the Shanghai Licensed Pilots Association and not need for the benefit of individual pilots. Ship-ong power of the world has been ping companies were by no means outstripped by over production, pleased with the decision of the the exorbitant taxation and bandi- pilotage authority regarding the try which still prevails in the in- incronse in the pilotago tariff of terior prevents the native mex the Shanghai Liconsed Pilots' As chants from exploiting the natural sociation; tho Chamber voted wealth and resources of their against any increase at the meet--| country. ing of the pilotage authority, but were autvoted by the Consular Body and Harbour Master, who were in favour of the increase bo- ing granted.
Rarised Harbour Regulations,
of the landing rights anjoyed by the Great Northorn, Eastern Ex- icnsion and Commercial Facito Cable Companion for a further term of 14 'yeare on amended con- ditions. As regards Amoy and Foodhow, Borious disorganization has taken place and whilst it would appear that matters are now on. the way to amicable settlement, the methods employed by the Chinese Telegraph Administration in im posing their will on others can only call for the strongest, condemná tion,
11
Towards the end of 1030 your Committee circulated a revised list of Public Holidays after consulta tion with the Chinese and Foreign Bankers Associations and the Customs authorities. The principle chango was the increasing of the
holiday at foreign New Year, to four days (including Sunday) and the abolition of the usual holiday at Lunar New Year and roplace- ment of samo by two days holi- day on 17th and 18th February, 1931, to be known as Spring Holf- day. Towards the end of January, bowover, the Chinesa Government issued a Mandate that no holiday of any nature was tabo pormitted at the Lunar New Year and Gov- erament offices in,Shangbai remain- ed open without cessation of busi- neas during that period Speaking generally, however, Chinese busi
ness houses remained closed for at least four full days and the Lunar Now Year was observed without Any apparent change in the Shang. hai dintriot.
I will now turn to the accounts. There is nothing calling for spe cial comment and I am glad to stato that the Chamber's finances aro in a very satisfactory condi tion. Before proposing the adop tion of the Report and Accounts I tions regarding them to the bost shall be glad to answer any ques
of my ability.
Aa no questions were asked the following resolutions were carried: a state of depression, and the buy-That the report and accounts, s
presented, bo passed.
It is too early as yet to make any statement on the subject of the abolition of Likin. Without doubt the National Government has mado strenuous endeavours to abolish this pernicious form of taxation and have done so with. The Chamber's draft of suggested neminal success in many provinces, revised Hazardous Gooda Regula but only to replace same with new tions for the Port of Shanghai was taxes, such as, Consolidation Tax, presented to the Commissioner of Business Tax and Special Con- Customs, oftor approval by, the sumption Tax. The position re- National Chambers of Commerce, garding Native Customs Duty is carly last year. Whilst no official still very obscure., A Customs change has been made in the Ear-Notification WES published on beur regulations in this regard, January 1, 1931, to the effect that your committee have been given to after the abolition of transit dues, understand that the suggested re-intra-60-11 Native Customs Duty vised regulations, as prepared by was to be charged on all foreign the Chamber, are being applied in goods proceeding Inland. This Shanghai by the Commissioner of was followed by a further Customs Customs and Harbour Master prac Notification on January to the tically without amendment.
eflect that no Native Customs Duly would be charged on foreign im ports proceeding inland.
The new Customs Tariff became effective on January 1, 1931, and with the exception of certain
"Judge Feetham's Report.. Anomalies, some of which have already received the Chamber's at The Shanghai Sposial District tention, the new scale of duties Court was shaigud on aprit appears to call for very little com-1, 1930, to take the place of the ment, unless it be to say that the Shanghai Provisional Court, and Tariff appears to have been vory judging by Frets reports of pro- carefully drafted with the object cordings and the number of appeals of promoting native industries in ledged by disputants, the Court China as far as possible. The in- creased duty on woollon pieco goods has been revised as the result of representations made by this Chamber in conjunction with tho Shanghai Piece Goods Importers Association, Numerous roquests from piece goods doalore for can collation of contracta for cargo were the subject of the meeting of
still leaves much to be desired.
|
That the following be elected as members of the new committee for the ensuing year :- Messrs. H.W.P. MoMeekin (chairman), 0.0. Stoon. (vico-chairman), P. A, Cox, R. E. Coxon, J. de Creisquer,F, H. Fordo, K. Fokushima, S. C. Kings- bury, A, B, Lowson, J. W. Bobert Bon, U. M. Tavella and Dr. W. Vogel.
A doctor writes in the^ "Medical Pecs and
Circular"
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CLASSIFIED ADVERTISEMENTS.
ATTRACTIVE
PREMISES TO LET.
To
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LET-From 197 APRIL, 1931, MA Rent or Parthage, Box
Thres Roomed in FLATS
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[10808
Early last year your Committee was approached by the Honourable Mr. Justion Feetham for the pur pose of obtaining the views of foreign commercial and shipping interests in Shanghai regarding AT TERRACE, VILLAGE BOLS, NO LET-No. 16 To 24, FUNG the following queries:—
1-What is the nature and ex- HAPPY VALLEY. 3-Room NEW EURO tent of the business interests which PEAN FLATS with Flush and All Importers hold on January 14, have become concentrated in Shang. Modern Conveniences. Moderate when it was found possible to de-hai, and particularly in the ForRental-Apply to Tex WING UN Co. cide upon unanimity of action, and eign Settlement, and what is their LAD., Estate Office. dealers were recommended to place woollen piece goods cargo into significance in relation to the acons,
mio life of China as a whole t bond pending adjustment of the Customs Tariff.in. this respect.
Duty Paid in China.
I am indebted to the Commis- sioner of Customa, Shanghai, for the following figures of duty paid for the whole of China during the past 3 yours.
1020
Import duty Export duty H.K. TI. H.K. Tla 42,953,090 26,203,787 25.461,617
1927 24,903,322
40,499,304
107,251,967
27,037,583. 38,293,187 135,840,256 35,547,830 Other dues & duties. Total.
H.K. Tis. H.K. Tia.
1928
1929
Local Sport:
1930
Cricket, Football, Golf, Racing, Yachting, etc.
and.
1024
10er
8,410,838
1028
8,775,567
**Other: Interesting Features.
1920
1930
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11,317,147
0,994,969
80,405,960
68,781,973
82,339,525 152,830,003
9,231,663 190,619,758
2. What are the main causes which have led to such concentra- tion 11-
3. What are the vital points for which it is necessary to provide in any scheme for the future of Shanghai so that such interests may not suffer and that Shanghai's position as a great business centre may be maintained i
Statements on the points raised wore obtained from each of "the Foreign National Chambors of Commerce and submitted to Mr. Justice Feetham together with a covering statement from this Cham- ber. Mr. Justice Foothat's report is now anxiously awaited and I have reason to believe that it will be aubmitted to the Shanghai- Muicipal Council in the very near futuro.
[
Dredging the Yangtzis. "A change in the basis of levying ccnservanoy dues is to be introduc est in the near future and, from the increased revenue, plant and equipment is to be obtained for the dredging of the approaches to Shanghai in the Yangtzo estuary. Some considerable time must elspes before the necessary plant can be obtained, but shipping companies are no doubt gratified with this de finite step towards the deepening
As pointed out last year, the remarkable increase shown for the year 1920 is apt to be misleading to statisticiane outside China and might normally, be interpreted to indicate a vast expansion of trade, The same applies to the figures of 1930. In both of these years the figures are magnified by the inelu. sion of the surtax returns and the increased scale of duties which eame into force in February, 1920, The average Sterling rate of ex- change for the year was approxi.of the ses approaches to Shangha). mately 1/81 per Shanghai Tael as The question of the status of compared with 2/4 for 1029 and foreign cable companies in China 2/8 for 1023
"has given exuse for considerable The opening rate of 2/1 in alarm amongst merchants, -^"In January 1930 proved to be the Shanghai the question appears to highest rate of the year. Silver | have been settled by a continuation
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