Novelty
Neckwear
Washing TIES of Foplin, Zephyr and Linen in plain colours, stripes and check designs. Well made and finished to withstand re- peated visits to the laundry,
$2.25
For Knots
For Bows
Less 10° discount for Cash
MACKINTOSHS LTD
MACLEANS PEROXIDE
TOOTH PASTE
MAKES YELLOW TEETH WHITE Stocked by all Pharmacies, Dispensaries
and Department Stores,
Agents
W. R. LOXLEY & CO.
GRAND OPENING SALE
FOR
15 DAYS ONLY EXPERT LADIES' DRESS MAKER FROM SHANGHAI ALL KINDS OF CHINESE AND FRENCH SILKS FOR SALE AT MODERATE PRICES HUNG YU COMPANY 70, QUEEN'S ROAD, CENTRAL (OPPOSITE LEE YUEN STREET, WEST) TELEPHONE: 27803.
ASSETS
£18,000,000
BY APPOINTMENT
CLAIMS PAID *£40,000,00
GENERAL
LIFE
ACCIDENT FIRE ASSURANCE CORPN., LTD
All Classes o
INSURANCE
WORLD WIDE
AGENTS
ORGANISATION
JAMES BACKHOUSE
OHATER ROAD.
217
EFFECT OF BOYCOTT ON JAPA ESE PIECE GOODS.
total report,
much food, cloth
FOR THROAT
TROUBLEE
:
* or generations famous physi
and other alans and specialists: in respiratory
a matter of gre to the friends of China Ahh 78th ordinary general meet and India has been able to show and Japan if the present outstand
Katiabanes boyo grappled with tha ing of the shareholders of tho
urable, balance of trade in spite ing differences could be amicably the fact that there has been no in-agent could be conveyed direct into dite to problem whereby natural hotline Chartered Bank of India, Austra is and Ching was held on March consuming countries which has made face, though negosiations may be worth 13s one month and perhaps, as PEPS, the problem solved. aw prives prevailing in the adjusted at a Round Table Confer flations With, however, a pound the Junge Ablast, in the discoyory
and as faction of the remený know. 30 1838, on the bank's premises, siness with Indian products': MORE protracted. Meantime it is eminent 188 or 14, the next, it is quite Pepa are unique in that they are 38 Bishopsgate London, EC.
diment. As a result of them ly satisfactory that active hostilities impossible for traders to make for at betrable treate Sir Montagu Cornish Turner (the operations and of the finanqin oqu have apparently come to an end ward cannot-in word, the in throat, chest and lung trouble
abddy tablet form, Theft smúncy Chairman) prostdad.
ditions generally as disclosed in the.| Mr. W. E Praston (chief man-Budget Speech at Delhi on the 7th
Гарад
pound must be pegged down at a demonbinted by the worldwide ager) having read the notice, con instant, Bir George Schuster WIL Trade in Japan has suffered End-soms definite figure, and it is good demand for Pepa voning the meeting and the audi- Justified in concluding his apesch ly from the boycott of her products chequer le alive to this pressing and every tablet is separately seal- nows that the Chancellor of the Ex- The healing and germicidal pro parties in Pops are highly volatile with these worlds: We may fairly in China. On the other hand, need in the intareste of all concerned in silver jacket. When strip The Chairman said: Sines ad claim that there is no country a Japan has benefited by the growinged who have overseas commitments. pod of this preserving wrapper and dressed you in this room- twelve the world whose intrinsie financial demand for her textiles, especially
allaolved in the mouth, Peps re- months ago the world has passed position is sounder or whose ut in India and Malaya. Probably,
(demo, tine volatile oils they contain through a finansin) arms at an adte, prospect of sonome advance) chrappost is a telling factor, In the period under ferie was the the inspired air, these Pops fumes The range of silver prices during in the form of fumes Mixing with paralleled magnitude and mud has in the future is more bright."
any case, the increase of her sales widest for many years and we have are carried with the breath through happened which would have ein
of cloth, and the decrease of sales witnemed a new low record with the bronchials direct into the lungs.. ed imposible in normal times...
sa Ranenshire" goods a very to the highest point touched was tomach never touch the real silver at shilling an ounos, while Liquid mixtures swallowed into the We have seen a continuance of the effect of continued low pricesmarkable. Japan has also suffered 21.9/10 pence Vigorous steps to troubles world-wide trade depression with for rubber is visible in many rastic by the absence of demand for her secure the adoption of some me Pops quickly soothe the throat, large increases in the ranks of the changes in Malayan Estato practico, silk by Ameriban buyers. Eer im-thod of revalorisation and subseally any soronoss or inflammation quant stability have so far failed and heal the delicate air-tubes. unemployed in most nations of the Estates which previously worked port trade has declined mainly to provoka oficial action--which Peps free the breathing, and com- world. We have seen up unransoul at a cost of about Bid. Lob, are owing to high tariffs deliberately must, obviously be of an interna fork and strengthen the entiro able went
of confidence in the us now working, at d. 1ob and imposed to restrict the consumption the movement who are in earnest, colds, chille, sore throat, bronchitis, tional nature But the sponsors of bronchial system. For coughs, ternational money markets result this figure in many cases has been of foreign goods and create a tax and soom to be actuated by altruis asthma, night or early-morning ing in a fight from nearly every reduced to Ed. Although these ex
tourable balance of trade.
tia motives, have the courage of cough,, ate. Papa are the indispanas earrenay sneh in its turn, involvtremely low. Agares may be tempor
their convictions and are still paren abje remedy Bold in handy waled ing their objective. The low levele bottles by chemists and dispensaries ing exchange restrictions and tariff ary, nothing short of a world Brads barriers ever increasing. All these boom is likely to raise them to their
which was round about 190,000,000 Road, Hong Kong, about a big contraction in output man & Co. Ltd, 4, Dog Vaux ruling for the metal bave brought everywhere. Agents Mesara. Gil
have combined to cause great an-preyious level, unless it boa wides
ounces for 1831, as against xiety and bewilderment to those prad and fatal disease among the
248,000,000 ounces in 1930. The engaged in financial operations, both nobart, as a martening feature, in the East, and the Wost In this dowever, in that Malaya da now be
total imports by India and Chinu inatly improved and the outlook were only about 10,000,000 ounces is hopeful We have gone very cams: we have had a change
ing forced by Hard economic cir
Lancashire Piece Goods. of
or something like a half of their fully into the matter of overhendit Government, with the result that cumstances to go in for mixed crops business with China during the so most effective remedy for the reeficiency are being carried out, and Although there was a considerable purchases in recent years The charges, economies compatible with an overwhelming majority has been For the past quarter of a century cond half of the year, dus in great storation of silver to a fair and the Chartered Bank should pros. given to a National Government to she bus depended solely upon rubber measure to the Japanese boycott, it reasonable value is the increase of per in the future as it has in the deal with the many grave financial and tin, because any other activity is is regretfully to be admitted that remedy for an improvement in behalf and of the Board of Dires
was more in the form of yarn, and trade in the Far East. The best past.
In conclusion, I would on your difficulties consequent on a falling offered smaller rewards and hustrade in cotton piece goods with trade is internal pence, improved tors convey our sincere thanks to revenue, an unbalanced Budget, and bandry was unattractive compered Shanghai and China proper during communications and a settled Gov an increasing adverse balance, ofwith rubber growing. This is now 1981 was very limited in compari ernment.
son with
former years changed the trade; Our system of fras imports
Kampong holder has Has been abandoned for the present, little bark left on his trees, and at any rate. We have now a sys and other crops. Thousands of is now formed to grow vegetables tam of scientific tariffs, a radical and sweeping change, but, under paddy are being planted in isolated plots which were until recently. existing circumstances, inevitable,
Ferhaps the most important of
abandoned swampe. Tobacco
B
Manchuria
practically at a standstill during Business in Manchuria has been the past six months, due to the mili- tary oporations between Japan and China,
The statistics of Lonicaahire's ex
ports of cotton piece goods to a three years are very illuminating dia and Burma during the past,
They are as follows:
1020
1980
1931
$26,081,622 £13,739,763 £5,435,330
These figures are eloquent of the
kes, and need no comment from me.
Gold and the Future of
and the Future of the f indeed, and America, with the lar The future of gold is very obscure
the dictating factor at no distant date. With a budgetary deficit for the current year estimated at $2,000,000,000, coupled with a big demand for currency which must anus if President Hoover's new financial scheme is to succeed,, a policy of deliberate inflation may be put into operation to meet the situation. If a similar inflation should occur in France (where there
(the events in the past year, certain proving a profitable and poput falling off in this important mar- ly as affecting the interests of the crop, and the leaf is being sold for Bank, has been the departure by local consumption, Maize and reget Great Britain from the gold standables are to be seen everywhere, and ard. This was no willing action pigs are kept to supply the Chinese on the part of our Government. We population of the towns. The outgast holding of the metal, will be were driven from the standard by look for rubber from the point of the persistent and heavy with view of the shareholders in public drawals of our gold roserves by companies is not encouraging. Un foreign lenders in this market. We like the native, the company cannot have now a world divided into grow its own livelihood, and so far gold standard countries, such as the the alternatives appear to be whe United States, the Philippines, ther to produce rubber or nothing. France, Germany, Holland, Java, The potential output of rubber is Siam--and the non-gold standard, already in the neighbourhood of is also a huge gap in the Budget), such as Great Britain and India, one million tons a year, and cona general fall in the value of gold Australia, Sweden, Denmark, and sumption is apparently some three is inevitable. Withdrawals of gold Norway. The Chartered Bank, with
would immediately ensue if either or both countries went in for a policy of inflation on a large scale, and if these exports want to hig dimensions, necessitating an am bargo being put on them, it would be tantamount to the country.con- cerned going off the 'gold standard. One final observation on this aul
its branchas in the East and in hundred thousand tons less, so that America, has to deal not only with the outlook not only for the planter sterling currencies, but also with but for the shareholder is definitely those on a gold standard basis, unwholesome. gold dollars francs, pesos, guild ors and ticals That we should have. outstandings in these currencies whom Grant Britain suddenly wont
China
The unhappy differences between
off the gold standard was inevitable China and Japan. have had a must if we were to pursue the ordinary detrimental effect on the trade, ol course of business and to be in the
exchange market for such business Shanghai and, indeed, on the trade as might be offering. To be out of the country generally. The of the market would mean the Char-effects of the boycott of Japanese tored Bank was not doing its duty, goods which was the main reason was not functioning as an exchange.
bank; and so it happened that for the starting of bostilities have when the momentous decision was meant colossal losses not only to made by England to abandon the Japan, but. great hardships to Chin gold atandard, we were faced withese traders as well, Conditions in liabilities in respect of commitments general in China are now much involving risks in gold currencies worse than they wore over six and to provide for losses occasioned months ago. The fact that six- pro by these commitments consequent on the depreciation of our currency, a transfor of one million pounds from our Reserve Fund was found to be necessary)
India,
vinces with a · population "of 150,000,000 are mariously overrun by Communista, which virtually mezas war between Communists and the Provisotal Authorities, naturally Testricts the volume of trade, and when it is considered that the Gov ernment bed 200,000 troops fight Aremarkable feature in the ing the Comminists in Kinngsi dur. world's financial transactions during the frat half of 5031 with azi
g the past 12 months has been sholifactory results, it can easily be shipments of gold from India understood that Agriculture, the or haards of that mata. Shipments gaùisation of trade, and the pur- which commenced. in September last chasing power of the people suffer and up to date amount to 12 m accordingly. The Tap hang, have been fairly steady and should have been given fo we may take it as long as a reby the cheaper silver prices.in. munerative price in obered to the did not operate fully because, sellers in India they will continue. to the interior insecurity due The gold has been drawn out, from banditry, and Commanism, to boards by the attractive pront offer cessive military and othge tasstic ed. It has been a blessing in and to the decline an the many rospects and has benefited of communications, the Indin in several ways. The holders bringing produce to the In many cases needed cash, to meet become almost prohib their
requirementa, nither for Added, to her pol agricultural or other purposes and China has suffered fro that cheh has been obtained on very ing disaster, caused favourable terms. The Indian Gov. last summer in the ernment has been able to funds regated Fin the Bad
sen ma
Landi pro Valery stering
kuben, the
Lidered
offtake has to declined and the
Frospects for the Future. As regards the future, taking ing the well-being of this Bank general view of the position affect can claim that prospects have dis (Continued on next Onlumin.):
The
Mr Preston and his colleagues at
home for their devoted! labours and unwearied attention to the interests of this Bank during the past year.
loyalty and good work on behalf of Our thanks are also due to the staff at home and abroad, for their the Institation to which they ar proud to belong.
Silk Lamp Shades, Chinese
Arts and Curios, Table Linens,
Lingerie, and Crystal Beads.
The B-B-C-Company
13, Ice House Street,
NOTICE.
NOTICE IS HEREBY GIVEN that our firm
is appointed Sole Agents and Distributors for China, for Vix Humidifiers and Gassavers, invented by WALTER G. CRITCHLOW, Wheaton, U.S.A. We have appointed MR. C. J. DE SCHIPPER as our Sales Manager,
2109]
is the tim
WING HING & CO
Tai Ping Building, 16, Queen's Road, Hong Kong,
INSULATE-
CELOTEX
Shuts out the heat
LUMBER
makes "your home
comfortable in the hottest weather.
Guaranteed White Ant Proof.
SHEWAN, TOMES & CO.
SOLE AGENTS.