iJ
NEW ADVERTISEMENTS
•
THE HONG KONG
JOCKEY
TE
CLUB.
HE FIRST EXTRA ́RACE MEETING willi ไหล held (Weather Parinitting) at BAPPY VAL
·LUY : SATURDAY, Šru MAROH, 1939, Commencing at p.m.
The First Ball will be Rung at 1.30
p.m.
MEMBERS' ENCLOSURE.
Momburs are notified that they and their Ladies mont wear their Badges prominently dieplay sd.
No, Une without a Badge will be admitted to the Mumbers Engicauro,
Budges admitting Non-Mombers to the Members' Baoloare and Cini Rooma at $0.00 for Gentlemen and $3.00 Ladies Both including Tax) for are obtainable tiranigh the BRCRE TARY 'apon Introduction by a Member, sach Mombor to be responsible for Payment of All Units, etc.
Badges
admitting to Mombers" Enolosary will not be on sale at the
Bace Course,
On Ne Pretext will Children be permitted in either Enclosure during the Merting.
Tifins aro obtainable at the Club House provided they are ordered from the No. Boy by 0 pm, on MARCH
TI. Tolephono 21020..
PUBLIC ENCLOSURE... The Price Enalpsure is $3.00, indinding Tax, for all Foracne, Including beds, and ir payable at the Gate
admitted
Admission to the Pablig
SEVEN-A-SIDE
RUGGER.
COMPETITION ARRANGED
IN AID OF CHARITIES,
い
At a meeting hold hard HMS. Tamar on January 19, it was decided to hold a seven a side Rugby tournament on Saturday, March 12, on the Club Ground, Happy Valley in aid of Naval and Military charities rounds will be played on Wednesday March 9, »
Preliminary
HỒNG KÔNG DALLY FRESS MONDAY, FEBRUARY 29, 1932.
THE HONG KONG AND SHANGHAI BANK.
(Continued from Fajr 7)
further blow to her export trade," large part of which is done, on a sterling basis. Despite this, her Bd- | vorao balance of trade showed &. ro duction from. 189 to 140 millions of To the continued decline in pricon [ the quantity of the latter and not you. I abalt refor Inter in my of raw material in general silver on the prics of "silver, that her speech to the Sino-Japanesc confict, which at prosont overshadows the proved an orception, its headlongopacity to buy from abroad really soonomie, as well as the political, downward career--in which in the depende Silver is merely the future. The only, other mention 1 previous year it had outpaced other medium of exchange, the intrinsic need to mults concerns Japan's no tion in following the British exani invalue.of which is of purely tempor-ple by quilting the gold standard, commodities - boing checked February lust after it bad touched are importance the record depth of exactly ono duil-
اله
ing the ounge. Mensured in terma of gold it showed an incomiderable rise in average price in the second The and ions of "play" are:-
half of the year Starling quota Seven minutes each way. Halftime,
tions, of course, no longer afforded one minute. Final, 3 minutes
index for comparison after September 20, but for the purpose each
Half way.
Lime,
three
of record I may mention that the minutes. Ten minates to elapse between the last sumi-Anal and highest spot price of the year was the final, 11 extra time in
1.9/18d on November 10. necessary, treo minutes each way to be played Rugby Union Rules will be adhered to...
|
kot,
"
of the countries concerned.
راهيم
This occurred 17 the month of December subsequent, to a change of government, Roloased from gold. the yen fell by the end of the year just over 30 per cent, leaving the banks and the government with the still unfinished task of liquidating which will call for a good deal of foreign exchange contracts-s task statesmanlike handling.
Soldiers and Sailors in Unform 246) Craiser; H.M.S." Hermes;cluded the rise in the Indian city, the volume of trade which the banks as a whole there was Ettle, if any,
Half Price,
World Trade Pouition. In the midst of a period of rgonomic depression affecting the whole world, it is not easy to strike the correct proportion when review ing trade and financial conditions Lin those particular areas in which
China's export trade should logië. our interests lie. The shrinkage of ally have benefited from the continu- world trade has had such a sweep- od drop in die taal exchange in 1931, ing effect as to over-ride local con- but any gain from this cause was ditions in most parts of the world more than off-set by the weakness of and produce a uniform dronry and foreign demand-for Chinese pro- scape of shrunken markets; dimi- ducts. The figures for 1931 will. I The Silver Market, ... nished purchasing power, crippled fear, show a further considerable Apart from the automatio effect industries and general economie dis-growth of the unfavourable trade of the depreciation of sterling and where the silver currency introduces feature for China and reflects iterif tresa. Except in the case of China, balance which is becoming a serious the transient consequences of the One or two teams may be entered Hoover Moratorium, nothing oc
an outside factor and where the "in her reduced demand for silver.") from the following Clubs:-The curred in the year to produce a
political events of the year have had Trade in the centre of China was a particular bearing on trade, a tow much hampered by foods and wides Hong Kong and Shanghai Bhak, violons rouction in the silvor mar-
general remarks will in the main pread banditry, and in the Man Kowloon: .W.B.s; A. & S. ..stirred within moderate limits by auffice to describe conditions in ench churian provinces by the polltion
The market was, however, and other military units. Each various areas currents. These in-
disturbances which broke out in the With the fall in eommodity prices autumn. Throughout the country A sale by Biam of some 20 million are required to fiance was natural relief from the burden of military ounces of demonetized silver, the adoption by Mexico of the silver much reduced and local, mer taxation, and, in spite of the absencu standard and, towards the end of chaty, have, in the main, experi- of party warfare, interference with
aneed difficult times, the year, Germany's purchases for starling remained at par, British The increase in export duties intro- So long as the railways was still very general. coinage requirements; to these must trade, especially in piece-goods, had duced on June 1-coming na it did in Entries must be forwarded to the be added the operations of specula a harder struggle than over against the midst of a depression--proved a Honorary Socretary by noon
tors in silver, not least in Newaver-in-orcasing competition in over- serious addition to the difficultas Friday, March 4. The following disturbed the market considerably from the gold standard has had in of trade.
York,, which on certain occasions contrneting markets Our divorce of the exporters in certain branches details are to be stataf: (a) Names
As regards the statistical position, this respect very appreciable effects. of team and reserves (3 reserves estimates pince the new production The impulse to British trade has
The Yangtze Floods. for sach teamy and places in the of the year at 190 milion fine ounces made itself noticeably felt and (4 million less than in the pre- British exporters have been enabled
Bilk, as a luxury product, suffor- HUMPHREYS ESTATE & field (3 forwards, 1 scrum-half, 2vious year) and supplies from other to get on to forms with foreign ed in a special degree, the export FINANCE CO., LTD. three-quarters and full back). sources, chiefly Sinn and India, at competitors to an extent "unknown of the flatures are at present closed dropping by about one-third; mout (b) Colours, (c) Numbers.. NOTI
TOTIOR IS HEREBY G17EN Reserves can only replace a crock of 27
67 million, giving a total output for a good. many years past. The down and many are finding them- that the ANNUAL ORDIN ed man in the next match. No man reduction from 1990. On the con-other carroncics, particularly the The bean trade in the North was million-- 38 million subsequent " going off gold" of serves in serious financial straits. ARY GENERAL MEETING of my play for more than one toam.sumption ide shipments to India Yen, of course dilated the boneft to Shareholders will be held at tho The charge for admission is totalled 2 million and to China 37 Grant Britain; we may hope, never HONGKONG HOTEL, Hong Kong, 81.00 to the covered stand and 80.80 (a reduction respectively of 8 andtheless, that our manufacturers at on MONDAY, the 20A BEBEU to uncovered stande.
Service men 73 million). Purchases by govern home will succeed in consolidating ARY, 1982, at 11.80 sm. for the in uniform, half price.
menta of other countries necount for part at least of their gaine and purpose of receiving the Report of the slims be addressed to the Hon. estimated consumption by industry prove not entirely transitory,
It is requested that all communiso miliony, and 5 million is the that the fillip to British trade will Directors together with a Statement Sec. Seven-a-Side Tournament, c/c and the arts. The unaccounted sur- of Accounts for the year ended 31st
Captain's Offleo, H.M. S plus for the fed is thus in the December, 1981.
neighbourhood of so million ounces.
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Subdaring Flotilla; H.M.S. Bookmakers, Tio The Men, steamur and small ships. Eight will not be permitted in operate with. in the Precincts of Tifs HONG KONG team will be left in on the ina JOCKET. Ova daring the Race Meeting, day,
Tifia will be obtainable in the. Rez- taurant in the Publio Enclosure.
By Order,
C. B. BROWN.
Secretary, Hong Kong, 19 Feb, 1979.,
[18F2
The TRANSFER BOOKS of the. Company will be CLOSED, from THURSDAY, 18‰¤ FÉBRUARY to MONDAY, 29TH FEBRUARY, both days inclusive.
JOHN D. HUMPHREYS & SON, General Managers.
Tamar
FAMOUS RUGBY PLAYER
of
Hong Kong, 10th Feb, 1932. [1850 BOUND DEAD IN SWANSEA
HONG KONG BENEVOLENT
THE
SOCIETY.
14
ANNUAL GENERAL MEETING will be lie on FRIDAY, 4TH MARCH, 11 a.m., in the Banitary Board Room, 3rd floor, Post Office,
Mrs. Southern has kindly consented [1847
to take the Obnir.
HONG KONG TELEPHONE CO.,
No
"LIMITED.
¿
HOTEL
(THROUGH DEFTER'S AGENCY.}
LONDON, Feb. 27. Mr. Dicky Owany one of the half-backs and greatest rugger who had 35 enps for Wales, was found dead in a room in an hotel in Swansco.."
BACHELORS' DANCE.
MEMBERS CELEBRATE AT CRAIGENGOWER.
!
Indian Trade.
Rubber.
Ladi
2
hard his both by the local political troubles and by the exceptional weakness of the market for this pro- duce, while the supply of egg which is becoming one of the chief export commodities of China--wns greatly reduced by the wholesal destruction by floods of the farma. in the Yangtze Valley..
די
H.K.W.C. & M.C.L.
BRIDGE and MAH JONG (First Floor) TEA DANCE (Roof Garden)
HOTEL
F HONG KONG
TUESDAY, 8th MARCH, 3.30 p.m. to 6.30 p.m. Lady Peel will present the prizes
TICKETS $2 (including Tea) Tables for Bridge (Contract and Auction), and Mah Jong and Tea Dance may be obtained from the General and Branch Secretaries, Messrs. J. P. Braga and Ho Leung and the Hong Kong Hotel Conveners of tables must provide their own cards and Mah Jong Sets,
Prizes for Bridge, Mah Jong and Spot Dance for ladies and gentlemen.
Dong Kong Weekly Press
The Great Shanghai Battle Japanese Attacks Repulsed Hong Kong Race Week January Trade Figures
and
Other Interesting Features.
THE PAPER WITH THE YELLOW COVER
Price :-30 Cents.
Annual Subscription: Hong Kong, $13; Post Free to any address, $18; Quarterly Subscription, $4.50,
Orders should be sent to the
HONG KONG DAILY PRESS, LTD.,
TELEPHONE: 80251.
Manchuria
1J
11, low House Studie)
2
Indian trade was severely hit by On the import side reduced enro Silver Price Level.
the reduced demand for Indian comsumption was general except in the modities combined with A The question of silver price levels period of uncertainty concerning the large quantities dime in during the long pase of cereals. Of these, unusually andofmaans and methods of sterling rupee ratio, which caused at year, including special cargoes of stabilisation has during the past one time.. pronounced flight from about 1350,000 tons of, wheat, being year provoked great den ofthe local currency; with the removal the first shipments of nearly half- discussion, revealing considerabio of this uncertainty, following Greata-million tone furnished by Ainerion, era, economists and currency experts standard, an improvement set in food famine relief. Australia, help. divergence of opinion, among bank Britain's abandonment of the gold on torms generous to China, for in the leading countries of tho and the outlock at the end of the ed by exchange, provided most of world. The range of discussion has year was, generally speaking, the ordinary wheat shipments and widened with the growing diflicul brighter.
large quantities of rice were im tres of world gold shortage and mal- Considerable reductions have ported from Rangoon. The princi distribution, which has driven those taken place in the stocks of jute and pal cause of this large introduction portérned with currency probléma gunnies held in India and abroad, of foodstuffe lies in the abnormal their proper perspective.
the political svona. A threatened to explore the possibilities of secur while a reviving demand has shown movement of prices, the drop in the I shall therefore content myself revolt by one of the northern gems.. ing kellot by means of harnessing itself for Burma rice and Bombay world market resulting often in silver to gold as an auxiliary cur-cotton. The shadow of the political foreign-imported gratu
coming with expressing the deep concern ale having failed to morali68, rency basis. It is not for me to situation still lies across the horizon chaaper into the market than crops with which we watch the struggle China was able at least to congra
ursue the problem ente this wider but here, too, I think we may in grown and transported in China
between two countries with whom tulate herself on surviving a year plme and I shalt here only touch dulge in Certain degree of Kerosene imports; a very large on the question from the limited optimism. By openly laying down item nowadays, fell by mearly we, as a Bank, have much close and fres from evil war, if we éxcept standpoint of Far Eastern trade. a broad and liberal line of policy half, partly because of a heavy in- friendly 'connections and such inti the campaign against the Coná- From this special angle there are,
in regard to the future of India the crease in duty; it is a retrograde mate business relations, adding ou: manjata which the President under however, one or two points which British Government has done much sign of the times thus the poorer fervent hope that they will manage took in the midsummer months; perhaps deserve rather more atten- to remove the fatal cloud of uncer-households are stated in many cases [OTICE 18 HEROBY GIVEN
tion than they have generally tainty which has darkened the to have gone back to the habit of to achieve a peaceful solution of I will pass over a details of ho received. that the SEVENTH ORDIN.
situation during the hat few years.burning the local bean oil. Gasolens their differences on a basis which struggle between Nanking and Can- ART YEARLY MEETING of the
China's Trade,
Progress will not be easy, but with too has fallen, indicating a tempor- the goal well defined and the road try check in the hitherto rapid will be a lasting pledge for the ton, which reached its criar mi the HONG KONG THIETFONE COM
In its effect on the China trade thereto lying clear, is it too much to development of motor transport in future. PANY LIMITED will be held on
the decline of silver has unturally hope for a sinking of communal China.
inst days of the year when General WEDNESDAY, the 9TH, Day of Mombers of the Craigongower tended to encourage exports and differences and a renewed spirit of
Chiang Kai-shek resigned from the MARCH, 1932, at the BOARD CC had a happy reunion oa handienp imports, but it is im-constructive co-peration on the "The Engineering Trade. „ Of the Manchurian" troublos presidency of the National Govern ROOM of the Company, Second Saturday when the bachelors held portant to bear in mind that the part of the peoples of India 1" I Floor, Exchange Building, Hong their annual dance.
This is an extent of this influence the imcannot but think that we may have relatively well, but the long credit already received very copious ar into power, main composed of The engineering trade survived shall also say very little, seeing that mont which he hid held since luge. the events in that region have A new administratiod then came Kong, at 11 am., for the purpose of event which is keenly looked for port and expert trade is measurable fairendy came through the most dif- terms attached to most large con- tention in the world's Fress. Many Cantonese party members unddi receiving a Statement of Ascounts ward to not only by the lady friends by the fall of silver nob in relation ficult stage in the process of evolu-racts proved as usual a stumbling factors, both old and new, Hive com leadership of Mr. Sun F and the Report of the Board of of the Bachelors but also by the to gold but in relation to the gold tion through which India is passing. block to importers of British goods. hint to create in Manchuria an in then events have taken place with the Directors, for the Financial Year married men and their ladies who price of the commodities which make” ended $1st December, 1991, and units in making up what appears up China's trade. Now this re
Railway orders were few. From ternational problem of great coil in api.s of their importantd, form ative fall has beer comparatively "re-electing two Directors and the like a large family gathering
now on, however, British manufae plexity and of a very delicate no part of a record of the year un- The Straita Battlements Thanks to the wholehearted, sup small and its effnet on the trade cor- Malaya, it is needless to say, have benefit of the Sino-British agree Chine and Japan multiplied dar turbing to watch this untoward de
turers are beginning, to reap the Auditors.
care. Local difficulties between der review. It is profoundly.dje port given by the bachelors and respondingly sight; fact which suffered very acutely from the un- the afficient way in which the ar- helps to explain the superficially precedented slump in rubber and the
ment for the use of the remitteding last suttimer and the position velopment of events and one
Boxer funds. The major par rangements were carried out, the puzzling fact that China's adverse low market for sin. In the face of of thess funda is carmarked for the grow over zabre crition till in only pray that the internationa ovent was a great success. Suverul trade balance has actually risen orashing difficulties the owners of purchase of British material to be Beptember the Japan atomp effort, made since the Great War, hundred persons attended and en- during the last two years in the face rubber estates are; we are told, supplied, in the form of invest
to cut the knot by means of mill tar to replace the arbitrament of force joyed themselves heartily.
Green and gold, the colours of have operated in exactly the con- foxx, little success to record in the other constructive enterprises, the League of Nations has brought value is the crisis with which we of a silver depression which should grimly holding on"; there is, 1ment to the Chinese railways and action, the final results of which still by ollier affective means for the dhain to be socs Appeal to the settlement of disputes" will prova itk e Club, wero prominent in the trary direction.
offorts to atcm over production, and funds to revert ultimately to educ sebomo of decorations. The dance. At the same in the benefit to we must look to the turn of the tional purposes.
about the despatch of a Commission dre now facod. hall presented charming scene Chine, frou national point of wheel in regard to world prosperity China is started on the road of of Enquiry which is now on its way with subdued lights in the coiling view, of having a currency net to bring to the rubber industry much producing for her own use textile antisfactory to note the re-affirma
to the East. In the meantime it is
The Comminista. 1827 Benonth which the couples dancéeed to gold and consequently free needed relief. A though the statis machinery and other objects of pretion of the " Open Door" principle: China during the past year, diss ho the strains of an excellent pro adjust itself to local commodity tical position in regard to tin bas or less skilled manufacture. The explicity laid down in the interna banded or unpaid soldiers and ruin
priess has shown itself in the become steadily worse due to declin tendency to sab up modern factories steadLacne, which. China has enjoyed, ing consumption, I am glad to say inside the tariff wall (although asional treaties which cover Maned and desperate, farmers combined in contrast to other countries, in that there are at the present time present mainly confined to the trenty churia
to swell the ranks of the bandits hör domestic price levels.
near improvement. port areas) has also been stimulived
whose numbers, became so great 25 The advantage of a constant pri Menuwhile the general export trade by the considerable inor uses, in lovel needs no stressing in the depreciation of the local curworld point of view it cannot be of China, me regretfully has to Yaugierigion, and especially has experienced some benefit from China's customs tariff. From a As regards the internal politics of the country. In the pentrál seriously to affect the economic lifa days when we have had so many examples of the effects of fluctuating rency, "cheapening Malayan produce mid however, that the industrial admit that the past year has given round Hankow, indifry, and Com prices as reflected in costs of living, in competition with that of the isation of China, has yet advanced but little sign of any radical labour conditions and so forth. It Netherlands East Indies which retos, really significant extent with provement. The endless struggle and adde grendly, to the confusion munism wore particularly, rampant is not surprising, therefore, that main on the gold standard. the single exception of cotton mills, between military leaders and poli and misory caused by last summer many Chinese as well as foreigimra. Of the Philippine Islands all to the output of which is already maktical factions continues to check floods, hold the view that the stabilisation be said in that, although trade is ing its mark on international: trade. progress and to, didin, the resources of the rate of exolange between naturally reduced and conditions
of wealth and energy which the lower borders of Kiangsi is now silvid and, pili, would be a mixed not too good, the position comparen
Shanghai,
country needs for development organise self-contained contra blessing to China and that a sudden favourably with that prevailing in
Though I have up to the present Hardly bad North China, mottled Communism In this azca Sorish other places in the East, chiofly on
disturbances caused, by the revolt of and a "red" army exists which has Philippine sugar enjoys by virtue which has developed out of the Fang Yu-halang and Yen Hel-shan bron, substantially strengthened of free entry into the United States relations between Japan and China han signs of fresh trouble showed large dosering units from the goy- would render Child a Better al-
Japan and the Boyest tomer of the world's goods. This is
I cannot pan on to the political themselves in the South
ard of the year without some A split in the ranks of the Qlox, The grudh of Communism true to the limited extent to which Japan's share of the world dis reference to the events whose shadow ernment took place in March and ing widespread conce silver might be brought out of hoard tress has been aggravated by the lilies so heavily at the present mo- widened rapidly into a breach; beheer grava appreh *for the purchase of foreign products, injury of her exports caused by the ment over the Far East, and, I may tween those in control in Nanking affect which the but as my predecessor had occasion boycott in China and by Chinose add, over the world in general. The and what we may broadly term the upon the to strcas last year--Chins like all merchants in other parts of the events now taking place ard too close Cantoness" party! At one time in China nothing countrica, buys her imports by Exit, while Great Britain's aban- to us in time as well as in apned fighting was imminent but in the move the hang means of her exports, and it is upon donment of the gold standard wie a to permit of our judging them in and, the conflict was playoch out in
The TRANSFER BOOKS of the Company will be CLOSED from the Brd to 9th MARCH, 1982, Both Days inclusive.
Dated this 15th day of Feb., 1932,
By Order of the Board,"
W. L. MCKENZIE,
Secretary.
14, Des Voeux Road, Central,
* Hong Kong.
THE HONG KONG & KOWLOON WHARF & GODOWN. CO. LTD.
NOTICE TO SHAREHOLDERS.
THE FORTY-FIFTH
OR-
DINARY ANNUAL MEET ING of SHAREHOLDERS vill ba held at the Office of Messrs. JARDINE MATHESON & Co., LTD.. on THURS. DAY, the 10th MARCH. 1982, AT NOON, for the purpose of receiving the Report of the Directors and the Statement of Accounts for the year ended 81st December, 1981.
The TRANSFER. BOOKS of the Company will be CLOSED from TUESDAY the 1st MARCH, 1982, to THURSDAY, the 10th MARCH, 1982, both days inclusive.
By Order of the Board of Directors,
FE ORAPNELL, Secretary. Hong Kong, 221-February, 1982;
[1858
gramme of music.
||
Speakers,
Singers,
Athletes
TRY
VALDA
PASTILLES
the restit will delight you -
„On Sale at all Chemfaïs
& Drugginia. INSIST on the boret berring the name VALDA.
....
signs of
Canton, and Tanking.
To return to domestic affairs in
artificial rise would have extremely account of the assured market which refrained from alluding to the na" (down, carly in the your from the government has been established:
Barnful resulta
It is frequently argued that a rise in the purchasing value of silver
mantous situation" at
Shanghai
ornment forcCA