'ADVERTISEMENTS.
THE HONG KONG
JOCKEY CLUB.
THE SIXTH EXTRA RACE hold
THE MKETING will
(Weather Permitting) at HAPPY VAL- LEY on SATURDAY, 21a and
MONDAY, 25TH MAY, 1931, Common- sing at 2.30 P.M. on Both Days.
The First Bell will be Rung at 2 P.M.
MEMBERS' ENCLOSURE. Members are notified that they and their Ladies must wear their Badges prominently displayed. No One without
• Badge will be admitted to the Members' Enclosure.
Badges admitting Non-Members to the Members Enclosure and Club Rooma at
83.001
5.For Ladies
Por Day! for Gentlemen and $9.00 qor Day for
dies (Both including Tax) are obtainable
the SECRE through TARY upon Introduction by Member, inch Member to be responsible for Payment of all Obits, &c.
Badges admitting to "Members' Factorare will not be on sale at the Hace Course.
to
Members can obtain, upon Application the SECRETARY, Dodges (Limited to Ons) for the Free Admission to the Mombora Enclosure of Wivos, Lady Bolatives and Friends Names must be stated when applying.
On Ne Pretest will Children be permitted in either Enclosure during the Morting.
PUBLIC ENCLOSURE. The Price of Admission to the Public
Enclosure is $2.00 Per Day inelading Tax, for all Persons, including Ladios, and is payable at the Gate.
Money and
BRITISH ECONOMIC MISSION TO EAST,
MANCHESTER AND SIR E. THOMPSON.
HONG KONG DAILY PRESS, MONDAY, MAY 25, 1931.
Markets
METAL MARKETS.
INFLUENCE BY GENERAL DEPRESSION.
The following Review of the A gathering of Press representa Metal Markets, dated May 1, has tives at the Department of Overheen issued by Messra Rudolf Wolff mena Trady on April I was ad- and Co., London :--- dressed by Mr. Gillett, M.P., and.
Markets have all come under the Sir Ernests Thompson on the ro influence of the general depression Mulis of the Cotton Mansion to the and although the Budget does not For Ensi
offer say
particular bardships, there is nothing to engender any optimistic outlook.
Bir Ernest Thompson said the port that Lancashire was faced with the greatest crisis in her blu tory. Recovery of Britain's cotton exports was a vital necessity for the nation as
Tim.
This market, in spite of support, a whole. The Mission has eased off through being sub were agreed that costs of produc.jected to heavy selling and liquide. The figures published to. tion must be reduced, and that tions. marketing methods must be improv. day, although showing an increase ́ed. It would be useless to attempt of only 382 tons in the Total Visi the form without-perfecting their e Supply, are mentisfactory as marketing organistica, for the the Carry-Over in the Straits in two facets were interdependent as high as 0471 tons. To-day, the Both, he sens convinced, were now market opened excitedly sible, and both would, he was equat. heavy selling and a new level was £103.-three months, course. For some limo investiga-equivalent to £103.12.6 Cash, this Loos had been made into conditions being the lowest since · 1800.
Boldiers and Sailors in Uniform are admitted Half Price,
Bookmakers, Tie Tac Mea, toly convinced, bo offected in duo will not be permitted to operate with in the Precincts of the HONG KONG JOCKEY OLOS during the Race Meeting. Tiffin will be obtainable in the Restan rant in the Public Enclosure.
By Onlor,
745]
C. B. BROWN,
Secretary.
TO ALL WHOM IT MAY CONCERN.
TR. E J. COLLING
reach of
with
The low, values attracted a number of
in the cotton industry, and the re. sults indicated that reorganisation buyers and the market then re
the close when must take place. Proposals were covered until
for three under consideration in Lancashire £106.17.6 was paid for more ficient réorganisation of months. The future is uncertain, production. He trusted that the but after the heavy fall which we Mission's proposals would be wel-have recently experienced some comed, and carried into effect little recovery is to he expected.
The East have sold 1580 tons dur-
le No simultaneously with any scheme of
reorganisation that, was adopted. ing the wock,
M Lotger connoted with the
.Company.
751]
VACUUM OIL COMPANY, 0:0, STARK, Acting General Manngor.
CREDIT FONCIER D'EXTREME- ORIENT. MORTGAGE BANK AND ESTATE AGENTS,
"PEAK MANSIONS" Bix-roomed & Fire-momed Apartments PRINCE EDWARD ROAD, KOWLOON,
"
Detached and Semi-detached Villas
Modern Constination with Garage,
* CAMBAY BUILDINGS" Tlata with Modern ConveniencON.
COMING ? ? ?
JUST MAGINE
POLICE CAR OVERTURNS.
TWO-MILES CHASE THROUGH SILENT LONDON STREETS.
A police motorcar overturned
He had very good reasons to hope that all would co operate, and that before long converted policy would be agreed upon that would lead to better times for the cotton trade.
Manchester Views.
|
*Copper.
The week opened with sales in anticipation of lower prices in America. It was also stated that liquidations were being effected through recent failures in New York. The market recovered
In Manchester the report had a slightly afterwards but the price mixed reception.
of Electrolytic having been again Mr. W. Maxwell Reekie, chair-lowered, values were easier to-day, man of the China Section of the Standard telling down to £41.5.0 Manchester Chamber of Commerce, for forward, equal to £40.12.8 Cash, said the report confirmed up to the which is the lowest since 1896. hilt every word that the Chinn There was however a recovery after exporting houses had been telling wirds to £41.11.3, but as it is an- the trade for the past ten years. ticirinted that the statistics for The most perfect distributing ays April will not be favourable, we Lem dovisable cannot sell goods may look for still lower prices. when they are non-competitive in price. The report tacitly admits that the policy of the trade unions will have to be overhauled. Three distinguised leaders of the opera Liven have signed the report. His greatest hope lay in what these three representatives report fo their respective organisations and the response.
Mr. John H. Groy, chairman of the Executive of the Joint Com- mittee of Cotton Trade Organi tions, said: "Thero are undoubted. ly great opportunities in the re port for every section to point out something which each section, ex-
ept itself, ought to do.
If we
while taking a corner at high speed there are great hopes that some- get the spirit of co-operation then in a chase after motor bandits in thing effective will be done." Guildford-Jane, Ilford, Essex. Á Sir Edward Rhodes, chairman sergeant and three constables were injured.
It was shortly after 2 a.m. that & message reached Ilford police station that bandits had raided an outfitting shop in Victory-parade. Sergeant Dade, with Constables Anstead, Beckworth and Palmer, at once sot out in a car and picked up the trail of the fleeing bandits.
The bandits, seeing the police car behind them, backed their car into a
began a thrilling chase through the empty streets, until after covering two miles, the police car drew along side the bandit car at the junction
of Ifford-road and Hampton-road...
of the Shipping Merchants' Com- mittee, said he failed to see how the setting up of a company at home to control the export of cot ton goods to China was going to make it pursible to sell our goods at cheaper rates than now.
Mr. H. Boothman, secretary of
Turnover for the week 6850 tons."
Lead,
Lead was firmer, at the beginning of the week but prices after giving way a little recovered again to-day closing, however, with a slightly ensier tone. In view of the heary shipments and arrivale and an indifferent trade demand, values may rerede a little further. Turnover for the week 4250 tons.
Speller.
|
|
AMERICAN IMPORTS.
hess has definitely turned tho cor-
TARIFF TROUBLES."
[REUTER'S AMERICAN BERVICE]:
NEW YORK, May 23. A survey undertaken by the Tariff Commission at the request of the State Department indiontea nearly Boven hundred million dollars of imperts into the Vuited Staten
nor.
The index of business activity for March was 77.4 against 70.1 for February, and 74.5, for January, when the lowest point of depression I was reached. Foreign trade is still
much below the normal levels. It. ceding month, but the increase was rose slightly in March over the pre- chiefly seasonal, and it was below that of March last year by £96,400, 000 in exports, and £18,000,000 in importe
It is signifeant of the situation that American export shipments had the smallest value for any March since 1014, and the importa were smallest for any March since £2,000,001 was due to increased 1916. Of the total gain in exporte, shipments of cotton."
Many were affected by the excly- sion of products of forced or in dentured labour under the provision of the Smoot Hawley Tariff Apt which was effective on January 1.
According to the New York Dr. Kloin, Assistant Secretary Heald Tribune, the Commission of Commerce, explains that much has studied labour conditions all is due to the drop of at least 15 of the decline in American exporta over the world and an effort has per cent. in commodity prices.. been made to list every possible Much concern is expressed regard commodity includable in a sweeping ing the decline in American trade ban,
with South America The United States, exports to Argentina for the first eleven months of 1930 fell by nearly 38 per cent., compared with the same period in 1929, Argentine exports to the United States in the same period fell off 35 per cent.
Rubber imports from Malaya which totalled 138 million dollars in 1928, may be excluded in accord- anon with the Treasury Depart ment's interpretation of the law, becau Malaya is reported to em- ploy and contract labour with penal
Banotion.
Similar importa from Java and
other of the East Indies islands and also listed as possibly affected.
The Tariff. Commission further an nouneck an experiment with this system doubtless to involve serious administrativo difficulties, and in- ternational complications.
SUEZ CANAL. DUES.
GOVERNMENT UNABLE TO
ASSIST
[DRITISHI WIRELESS SERVICE]
RUGBY, May 22.
The House of Commons adjourned to-day for the Whitsuntido Recess The sessions will be resumed on Jung 2.
Questions raised on the motion for the adjournment included one re- garding Suez Canal dues.
Henlying to a suggestion that the Government should, through the English directors, press for a re- vision of the high transit charges. against which the Foreign Secre Lary had received protata from six martime Powers of Europe, Mr. W. R. Smith stated that the Govern
Rent had no direct voice in the Administration, and Company's and no authority to demand what might be desirable in the interest of the shipowners and commere ́gen. erally:
Within the limits of their powers and opportunities the Government had done everything possible to help in the direction suggested,
INTERNATIONAL WHEAT
CONFERENCE.
COMMITTEE FORMED TO SUBMIT PROPOSALS,
[THROUGH.EBUter's Agency.]
LONDON. May 23. The final plenary session of the International Wheat Conference to-day decided to appoint a com-
establish a clearing house for in- formation to explora avenues of the greater utilisation of wheat, and further to make preparations to carry on the aims of the Con- ference.
In face of general trade depres-mittee to submit a proposal to sion, especially in the galvanizing industry and the continued lower ing of the price in New York, our market has given way and a re- cord low level was reached yester- day, May Spelier selling down to £10.8.9. Thoro was a slight rally to-day to £10.12.6 for near and £11.3.8 for forward. A consider. able quantity of apolter has been. declared for May delivery from Tasmania, Canada, the Continent and the Gulf ports, and although spelter is at such a low level, the
the Operative Spinners, Amalga outlook generally does not inspire mation, said: The textile workers confidence and it is not improbable may meet to discuss the recom-
nendations. If something has to be that we shall break new records. done, naturally we must all get. The price in America has fallen together and do it.
consistently from 3.5 cents to 3.36.
Mr. J. Harold Rodier, a mem
LIVERPOOL COTTON
MARKET.
LARGE SALES OF RUSSIAN
STAPLE,
Liverpool, May 16-In the spot. raw cotton market during the past week a fair business has been done, but most descriptions show decline in price.
2
The futuro market has ruled very quiot. The reduction of the bankrate was welcomed, but has had no appreciable effect in this market. A bearish fooling general- ly has continued throughout the week; which was aggravated by large sales of Russian cotton.
The market for Egyptian cotton has ruled idle and prices went weaker, mainly owing to Continent. al selling..
Mr. F. W. Birchenough, presidents. line, waited till the police had pass Amalgamation (a member of the ent of the Operative Spinners' ed, then set off at fall speed in the Mission) said: It is too early to opposite direction. The police car express any opinion as to what the stopped and turned round. Thenperative will do. What we want
to know is what other folks thinker of the Executive Committee of about the matter.
the China and Far East Section of Mr. J. Tertina Spencer, the the Manchester Chamber of Com
merce, said: "It secun obvious Burnley manufacturer whoso re- cent attempts to ran the eight-loom that it is essential to reduce the U.S. TRADE ON UP CRADE. system failed owing to the Went finishing, but as an adequate re custa of spinning, weaving, and ATA, Amalgamation, said. We duction of wages would not be don't want tho weavers to
agreed to in England weeannot expend any moro unita of
look forward to regaining any energy per hour than they do now
great proportion of au? lost trade, on four ordinary Laneshiro looms,
and we shall have to be content New York.--President Hoover is but if conditions can be so arrang-
with what Eustern mill cannot reported to bo greatly cheered to- ed that they can run eight or
make. N. scheme of rationalian- day by the statements of eminent ten looms with only the same ex-
fion will effect the necessary re- American business analysis, who penditure of energy, they should
ductions. As regards the scheme report that trade is slowly on the be allowed to do so. If that were for holding stocks in Chine of upgrade, Mr. Robert Babson, the permitted. operatives would be able bulk lines, how can this be feasible to carn much higher weekly wages were the primary costs are ad-who- predicted the stock market best known American statistician, than at present,
justed to & connecting point with crash in 1929, is quoted to-day an the market, valura ?"
informing the President that kusi-I
Hurled on to the Road, As both cars were speeding round the corner a wheel of the police car atrack the kerb, the car overturned, and the four occupants were hurled en to the road. The bandit car drove OD. t... kam.
Constable Palmer was slightly in jured on one leg, and Constable An- dead on the neck Constable Beek worth was injured on the left side and shoulder.
(Continued at foot of nere column.)
SLOW IMPROVEMENT REPORTED.
Which
Monday
Tuesday
1
BUSINESS OPPORTUNITY
II
A well established Firm, good capital, first. class references, over thirty years experience in commercial lines, looking for a joint relation in business with manufacturers and merchants of different lines such as, Fuji and Crepe de Chine Silk Piece Goods, Complete Suits, Pyjamas, Gowns, Shawls, Enamel Ware, Boots and Shoes, Socks and Stockings, Cotton Piece Goods, suitable for the Native Trade.
Please forward Samples, Price-list and Catalogue direct to-
ABDULRAHMAN BIN MIRAN,
P. O. Box No. 5,
IRUMU, (CONGO BELGE).
:
via MOMBASA, KENYA COLONY.
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