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LONDON'S LOVELIEST SUBURB
ROYAL RICHMOND
18 Minutes From Town. BINGHAM HOUSE HOTEL
PETERSHAM ROAD, RICHMOND,
HONG KONG DAILY PRESS, SATURDAY, APRIL 25, 1931.
BRITISH BANKING IN THE EAST.
EASTERN MARKETS REVIEWED.
ANNUAL MEETING OF CHARTERED BANK OF INDIA.
+
The 77th ordinary general moot ing of the shareholders of the Chartered Bank of India, Austra lin and Chins was hold on 28 March on the bank's premises, 38, Bishopsgate, London, E.C.
Sir Montagu. Cornish Turner (the Chairman) sald inter alia; - Before "moving the resolution to adopt the report of the directors for the year ended 31 December last, you will 'except me to give Ane Account of the conditions prevailing at varione trade centres covered by the operations of this Eastern Exchange Bank.
The Economic Problem. I need no dwell on the world. wide depression in trade which in extent and movority has, I believe, ever been surpassed in modern time. That is a matter of com-
1242171
knowledge. Whatever the
TONDERFULLY situated in this ez nues, and they are numerous,
Overlooking to River, the View from the Hotel Gardens, Verandah, Public Roos, and many Bodrooms, is incom- parable. The River flow is Admittedly Unexcolled in Europe.
|
MOTOR DRIVER AND HIS CAR.
DISOBEYED POLICE OFFICER.
According to the evidence for the prosecution, the defendant, together with several others, was standing in Pedder Street opposite Brower' bookstore. The crowd was ordered to move on, and all complied with the exception of the defendant, who remained where he was, oven after being
The driver of a motor, belonging to Mr. Leung You Tak, was fined K3 by Mr. Schofield yesterday un- der a section of the Traffic Regula- The repatriation of these cooliestion which requires all persons to is causing a great deal of anxiety slop or move on when called upon among rubber producers, as they to do an by a Police officer, fre nearly all skilled workers who bave been on the plantations for many years. The planters fear that when the market improves and demand reasserts itself, it will not only be an expenïive business to
ordered again shortly. ring back this labour force to
afterwards. He WDB standing the Straits, but it is pointed out about two yards in front of the with some justice that Ceylon by ear. There was quite a lot of traffic virtue of her proximity to South- the rond at the time. The ac- oin India, which is the main source of labour supply for both countries, will be able to recover far more rapidly than the Streita. In regard to rubber production costs, it is very interesting to learn that as soon as it was realised that all appeals to Government for re- striction were useless, planters concentrated on reduction in costs, and surprising results have been accomplished. Rubbor is now be- | ng produced in some cases at an low as 10 Straits cents per 16. Cess than threepence.) The idea that this could have been done a few years ago would have appeared
Wort Delightful Oldworld. Towth Eastern and Western Homis- A For Minutos from the Famous Park, Termcos, and Bridge. Station Omalbuíeberes have auflorod very severely, passos tho Door,
But it is especially in the East, where our interests mainly lie,fantastic. Of course, my hearers and where the prosperity of its will understand that this is its milions depends on the ready sale ce on the estate, and not the price of the commodity in London, Malaya has never need such a of their crops and products at ro munerative prices in the marketsolonged crisis as that through which she is now passing, but the n the world that the effects of efforts which have been made to this disastrous landslido have been
meet the situation. will produce chiefly felt.
beneficial and lasting resulls when world conditions improve,
The Hotel Well Furnished and enjoys a Happy Home-like Atmosphere All Public Rooms are Spacious. Gan Fires in Dodrooms, Cuialno olatined to Le Quito Exceptional.
Terms From 3 Guineas Single Per Week. NO EXTRAS." Tariff from DAILY PREa" Office.
LONDON BUYING AGENTS
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RENEGADES
COMING ???.
Tho immens destruction of wealth during the war, a fact which people nowadays are apt to forget, has a great deal to do with the present world "stump" in tinde, coupled with the fact that stricted consumption-and this particularly applies to the East with its teeming millions-bas fal les very far behind production.
A sidelight on the economic con- ditions in the Straits and Malaya has been the large shipments of gold to England and India during the past few months.
cused had been waiting for his master and his intention was pro- bably to allow his master to see him instead of having to look, for the
car.
sonted by Mr. A. Covey, denied The defendant, who was repre-
having been warned by the police officer and stated that lie was not standing two yards away.
Mr. Covey submitted that the regulation was not applicable to the incident. It referred to people. with goods and not to drivers who were standing by their care.
His Warship, accepted the evi- dence of the prosecution that the defendant was standing two yarda away, and registered a conviction.
We must therefore look to ther ex uses for the tiebaric, and, briefly, these inny be summarised in the accumulation of stores ti il monetised silver. Recently French Indo-China demonetised their dolar, with the result that large blocks of silver were dumped n the market, and for a long time clogged the China market. These have now moved off, but it took time, and although there are other hoards known, the chief concern at the moment in this respect are the stocks of silver coins in the Indian currency reserve available for sale.
11
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It is a guarantee based on the ex- perience of nearly a million users. For the past three years, General Electric Refrigeration has served them constantly, faithfully, making a sensational expense-free record
This gold was imported in prosperous times by the small rubber growers for hoarding purposes, and for oran
ernis, and represented their ne- Silvor, it must be remembered, is a commodity, and as such is, of cumulated profits on rubber sold whom prices were high. Now that course, subject to industrial con- the small-holders have fallen onditions, but it has in addition &
cual function of its own, and in that is one of the outstanding achievements in the industry. this respect stands by itself, so that any improvement in tinde should show itself first in the price of silver, and what a blessing this the world in general will be to China, and indirectly to
down.
China is still distinctly unsettled, India shaken, with unreat, and Iussia-whatever view may be taken of its politics-constitutessil times, the gold has had to be to-day an economic factor more
siferificed and sent to the mints in strange and menacing than any England and India to be, melted which has been witnessed in our time. Instead of increasing after the war, the consuming capacity of those three countries alone has contracted from £300,000,000 in 1913 to £300,000,000 in 1920. These figures are eloquent and need no comment from, ine.
The Philippines. "We continue to hold our own in the Philippines, which, however, like every other primary producing country, are being hard hit by the present slump.
If agriculturists in the East and
The development of the Islands throughout the world cannot sell in proceeding on slow but round their products at prices which leave lines, and it is a very satisfactory a margin over the cost of produc sign that, in spite of the present tion, it stands to reason that they world wide depression, the stabil are not able to buy our manufacity of the currency of the Philip tured goods,, and that is exactly rines is quite unimpaired. the position to-day.
China,
Japan,
It is noticeable that, in spite of
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On View at
Hong Kong Electric Company, Ltd. General Electric Company (China), Ltd.
Andersen, Meyer & Company, Ltd.
MIDNIGHT SCENE IN
SINGAPORE..'
China only wants the cessation of civil war and a stable Govern- ment to start this industrious and Pre-eminently business people on the road to prosperity again, and if only confidence is inspired and. undue miscellaneous taxation se verely repressed, a prosperous China will soon revive a demand for silver. The other and doubtful way of establishing the value of silver would be through interna Many of our troubles are doubt.
tional agreement, such as might bo less also dun to the uneven distri
As regarda China, conditions in negotiated amicably between Ameri- bution of gold, and the fact that that country have certainly imen, Great Britain, France and Great Britain in being called upon to bear too heavy a strain in world loved. For the time being, active ether nations interested in the financing owing to other creditor civil warfare is at an end; the white metal.
Nanking Government outwardly countries like America and Franco
ale on good terms with the young (who have between them accumu-War Lord in Manchuria, and are lated stocks of gold of a value of doing their best to put an end to everything in her favour in the about £1,350,000,000), being indis- the devasting activities of the way of wages and long, working posed at present to lend freely bandits who, apparently, for the hours, Japan has a very large aum throughout the world.
most part, are discharged soldiers of unemployed, and her mills But perhaps, the most urgent But until this has been done and have to work short time. The fact Bed is some reasonable settlement real control of the provinces has is, that she is now up against com. of the war debts and reparations; heen effected, good relationships putition with Chinese Mills, which bave equal advantages of low cost the lifting of large sums from one have been established, and until
of labour and long hours. Japan country to another, without any ler budget has been put on a satis
is now seeking for other outlets yaule Treeived; is causing frequent
for her yarn and cloth. We know and serious disturbance to the Ex-factory basis, the present Govern-
ment in Ching will have difficulty that she is doing good business in changes and to general world trade.
in obtaining the outside assistance The standards of life in the coun-
The allegation that she was stop- tries from which these payments she requires financially to put her India to the detriment of our own also making a vigorous attack on
ped at midnight on a public road Are being made are forced down tailways in order, to carry out country Lancashire goods. She is badly needed improvements ja
the Dutch East Indies, and it is to a low level, and they are being transport, and to recreate favour-
indeed difficult for Lanenshire to by her former ricksha puller, boa compelled to export at prices which
able, conditions for the trade, are threatening the ruin of our which should be possible once the compete when Eastern manufactur. ton with a stick and relieved of
ers can produce the same goods exporį, trade.
made by cheap labour with the her hand-bag containing, 823, was Above all, however, what is want-political situation has resulted in a firmly established and well or-
benefit of longer hours.
mado by Mrs. Nora Leishman, a ed to-day more than anything else.
Frenchwoman, before Mr. G. C is a spirit of greater confidence. It gnised Government. must be made worth the while of
Dodd, the Singapore Criminal those who have capacity, braine
District Judge, when a ricksha pul- and accumulated capital, to in-
ler who was charged with theft and itiate employment, to push inson tion and enterprise, to go ahead and take risks, and until that is
assault, claimed to be tried.
done, we shall still have to con template the grim spectre of a employment throughout all the in dustrial countries of the world.
The Straits and Y.M.S. The Straits and Malay States have been badly bitten by the fall in rubber and tin, Java by the fall in rubber, Saigon and Siam by the low price in their chief ex- port, namely, rice, while China and Japan have been badly hit by the fall in price of raw silk and the greatly decrenend demand for that article both in America and Europe.
Rubber... The rubber market is still over- yuighted with large stocks. Con ditions may improve, but I hardly venture to say that we shall Boo any material advanco in the price in the near future.
Both Ceylon and the Straits have naturally felt the brunt of the storm. In the Straits and Malay States ons result, has boon the ro: duction of working costs and the paying off of large numbers of Indian Inbourers. Iuslievo some 70 to 80 thousand men have return- ed to the coast of India.
Unfortunately the abnormal and chaotic conditions of the silver aurkel have proved, and will prove until the price can be in some way standardised,most detrimental to foreign trade with China. It is true that the fail in the price of miver is favourable for exports, hut, on the other hand, this is counterbalanced by the difficulties of transport for produce coming down from the countryside to th coast, and the unlimited amount of tax or "aquoczo" which hos to bo raid while theas products are in course of transit.
Silver.
British Goods in the World Markets,
י,
FRENCHWOMAN'S STORY, OF
ATTACK.
I was a guest the other day at the British Industries Fair hold in Birmingham, and I can truth-
In her evidence the complainant fully any that I came away with a feeling of pride at the variety and quality of the goods exhibited stated that she deft her flat at 5-A it is, however, undeniable that Brax Basah Road at about 12 o'clock there is something in the charge that our salesmanship in these days on the night of April 7, and was of keen competition is often lack proceeding towards the Oriental ing in enterprise, a fact which is Hotel in a ricksha when the stressed yoar in and year out by all our managers in the East. cured, who had boon hor, puller This is, to my mind, a weak spot some acven months ago, stopped in British industrial organisation, and it is a pity that all the ski, her and assaulted her with a stick, drive, brains and hard work which She then got down and the acoused go to the making of goods should snatched her hand-bag containing She noticed be lacking when it comes to market 823 and ran away.
him throwing something away ing them...
while running.
No reference to China would be complete witbont mentioning the catastrophic fall which has taken place in the price of silver. This is not due to over-production as
Our manufacturers of articles in the ease of other commodities. Jesigned for Eastern markets-and The output of silver has kept fair this applies moru particularly to ly steady about 250,000,000 oz. in sundry articles should really make closer study of the requirements the last six yenra, India and
of these markets, and it is essential, China in 1930 took about £10,000,000 ora; this therefore leaves a com
above all, that their salesmen who go to the East should not only be paratively small baianos te moet industrial requirements auch as
keen on their job but should also be subsidiary coinage, the moving pic equipped with some knowledge of tune industry, and the hundredthe languages and habits of the and one other uses silver is put merchants they are dealing with in to, and as they requirements may the Unzora. It is this last, toge easily total some 50,000,000 ozs. Berther with the keen desine to meet annum, we are left with a potential; the wishes of their customers, which ar counts for the marked success in shortage en production rather than. n surplus. ⠀
recent years of our rivals in these Eastern markets.
(Continued on ntal Column.).
She blew a whistle to summon a policeman but no aid came to her, and the following morning she re ported the incident to Inspector Ballard at the Kandang --Kerbau police station..
The accused, Sco Queo Ngeo, denied the allegations and said that he had been the complainant's
ricksha puller for about soven months and she still owed him 83,60 On the night in question he only asked her for the money, "I was not true that he beat and rob- bed her.
The further hearing was adjourn <d'
DAVID, HOUSE.
But it's not a New one
It has just come back from the
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A SUGGESTION: Why not send your Winter Suits and Costumes to us, beforo storing, so that you can paok them away,
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