INSECT BITE CUT) SCRATCH
Apply this antiseptic ointment at once. It is such a relief to feel the irritation fade away and the sore spot soon hoals with this simple healthy
· treatment. Always keep it handy.
CALVERTS
CARBOLIC
OINTMENT
ANNOUNCEMENT.
We have been appointed Sole Agents for Hongkong South China for the following British manufacturers :-
́RUSTON & HORNSBY, LTD., Engineers, Lincoln, England.
Manufacturers of:-
Horizontal and Vertical AirlessInjection Cold Starting Oil Engine Horizontal and Vertical Gas Engines:
Suction Gas Producers:
Boilers:
Steam and Diesel Engine Road Rollers;
Portable Steam Engines;
Centrifugal Pumps:
etc., etc.
RUSTON LISTER MARINE CO., LTD., Imperial House,
Manufacturers of:-
Kingsway, London.
i
Marine Airless Injection Oil Engines up to 330 b.hogether with Auxiliary Equipment.
R. A. LISTER CO., LTD., Dursley, Gloucester, England.
Manufacturers/of:-
Vertical, Petrol and Paraffin Engines:
Crude Oil Engines
Electric Lighting Plants;
Petrol Driven Trucks.
BROOM & WADE, High Wycombe, England,
Manufacturers of:-
Air Compressors, etc., etc.
We have engaged the services of an expert engineer, trained by Messrs. Ruston & Hornsby, Ltd., who has also complete knowledge of the products of the manufacturers referred to Above.
Enquiries will receive our careful and prompt attention. REISS, MASSEY & CO., LTD.
Engineering Dept.
7 Queen's Road, Central, 1st Floor,
Mercantile Bank Building.
Hong Kong
KING'S
Tel. 28009.
THEATRE
THE SEASON'S OUTSTANDING
MUSICAL EVENT!
THE WORLD'S GREATEST WOMAN VIOLINISTE!
RENEE CHEMET
One Recital Only at 9.30 p.m. Friday, 8th July
“THERE IS ONLY ONE CHEMET
Morning Post, London,
"TOPS THE LIST OF WOMEN PLAYERS.''. NY. Esaning World.
PRICES FINOL TAX
ORCHESTRA STALLS 84 FRONT STALLS DRESS CIROLE
PLANS NOW OPEN;
-BACK-STALLS
"BOOK FARLY.
HONG KONG DAILY PRESS. MONDAY, JULY
WAR LOAN
· CONVERSION PLAN
SUCCESS PRACTICALLY
ASSURED
{ORITISH WIRELESS SERVICE]
NEW YORK STOCK EXCHANGE.
A.OF.C. QUOTATIONS.
REUTER'S AMERICAN SERVICE}
New Yoak, July 1. LAST TO-DAY'S
AVERAGE AVERAGE CHANGES
30 Indus-
trials ... 42.84.
41.30
1.53
.41
.83
Rcony, July 1 THE success of Mr. Chamberlain's gigantic venture into the financo market is practically nssur-Messrs. E. A. Pierce & Co. Report,
ed before the first claim for con- version bonus has been made.
20 Rails 13.43. 13.61 Utilities 17.09 17.01
Market Steady:-Business, done: 800,000 shares
CAST TO-DAY'S
PRICE PRICE
$318
$327
437
478
337
767
78%
50 48
210
Air Reduction Allied Chemical and
Dye ga American Can American, Tolograph
and Telephone American Tobacco "B" 49 Auburn ........
46 Borden Company A... 201 Canadian Pacific
82 Consolidated Gas of
Now York ........... 355 Drugs, Inc. ................ 23)
The immediate response accorded the great schome, whereby it is pro. posed to convert the whole of the Five Per Cent. 1029/47 War Loan, amounting to over £2,000,000,000, which is in the hands of three million holders, and to continue the loan at the rate of interest of 3 por cent. has given intense satisfaction. The Government's appreciation of its reception was expressed by the acting Premier, Mr. Stanley Bald-Du Pont de Nemours 221 Eastman Kodak 301 win, in broadcast speech.
General Electric ......
General Motors ........ International Harves-
Mr. Baldwin said that if he mightGeneral. Foods judgo by what he saw in the House of Commons last night, in tho papers to day, and what he had heard being said everywhere, there
was not a shadow of doubt that the public would see this through.
"We have got a long way since the critical days of last autumn, but much remains to be done. Ons of the obstacles is the burden of taxa tion. It is the duty of Govern- ment to noize every chance of re- ducing expenditure and thus reduc- ing the amount to be taken from people in taxation.
"It is providential that just when our burdens most nocd reducing thero is this chance of making a very large saving in the debt in- terest while scrupulously observing every obligation to which the faith of the country has heen pledged.
ter International Tel. and
Tel. Liggett And Myers
1932.
PASS OF GLENGÒA.;
The Argyllshire valley, ten miles in length
· exsending from Balladsutikta Lach Eśnie,
It was the scene of the massacre of the Macdonalds in 1692.
The excellence of
Johnnie Walker is
accepted amongst men
who know what good
whisky is. Its sales
exceed those of any
19
112
11
31
31
39
401
other whisky in the
151
10
Loew's Inc. ...... ..... 134 Pacific Gas and Elec-
tric Pennsylvania Railway Radio Corporation Sears Roebuck Standard Oil Com..
pany of New Jersey 93 Socony-Vacuum Corp. Union Carbide and
Carbon Union Pacific United Aircraft and
Trans, United States Steel Westinghouse E. and
M.
Ex. dividend.
101 201
10 171
COLONY'S FINANCES.
BIG INCREASE IN CREDIT BALANCE.
The greatest pre-war schone for the conversion of debt in this country was that affected by Vis-
Hong Kong's finances continue to count Goschen in 1888. The imme-improve, the latest return, up to diate saving then effected was Murch 31, showing thut fevenue exi £1,700,000 yearly."
The immediate saving aimed at in the present schemo is about 18 times as great.
Goschen was dealing with prae- tically the whole of the national debt of that time. Our scheme re- lates only to the war loan which is less than a third of the present National Debt.
..
Deadweight on Capital Market. The scheme is of equal import ance for industry. This great mass of two thousand million pounds of stock bearing 6 per cent. interest has been a deadweight on the capital market for many years. Neither the State, nor the Colonial authorities, nor British industries could obtain capital at the lower rates which the national credit really justified.
This scheme, when it is through, will enable industry to get money it needs more cheaply, and it will do more than any other new thing i
the Government or the country can
do at the present moment to act the wheels of industry going
aguin,"
Mr. "MacDonald's Appeal.
Mr. Baldwin read a letter from the Prime Minister to the, Chan- cellor of the Exchequer in which the former said:" Holders of the loan, large and small, will I am confident, respond to the Govern- meut's appeal with the same good-- will and patriotism which the British people kave always shown when a great national effort is re- quired. If every holder of the war loan will play his part by respond- ing quickly, another great step for-
ccoded expenditure during the month by more than a million dol lars, whilst for the first quarter of the year there was a surplus of aver two millions.
As a result, the credit balance at the end of March was 813,582,720; against 812,572,713 at the end of February.
Revenue during March totalled. 83,335,850, 45 compared with 84,424,054 in the samo month last year. Expenditure was 82,325,843, Against 2,170,390.
For the first three months of the year, the revenue was 30,055,050, compared with 87,042,440 last year, while expenditure totalled 86,820,838, against 88,248,427 for the first quarter of 1931.
EXCHANGE RATES.
[BRITISH WIRELESS SERVICE.]
Paris New York Montreal
Brussola
Amsterdam
Geneva
Milan
Berlin Stockholm Copenhagon
Nuday, July 2
904.
3.571
4.30
25 11/16
8,844
77
18.3
70 19
15.02)
ID 17/32 181
Qalo Vienna Prague:
200/32
34
Helsingfors.
240
43,
110
560
000
Madrid Lisbon Athens.... Bucharest Rio
Buenos Aires Montevideo Bombay Shanghai Hong Kong Yokohama ATAU Silver (spot) Silver (forward)
51/16
30 nem.
world-recognition
that nothing finer is
obtainable.
Born 1820-Still Going Strong,
JOHNNIE WALKER
Sole Agents for China:
Caldbeck, Macgregor
Shanghai
LYTTON COMMISSION OFF
TO TOKYO
(THROUGH REUTER'S AGENCY.]
SzovL, July 2. The members of the Lytton Com mission set out for Tokyo this morning, and expect to reach the Japanese Capital on Monday mornTM| ing next.
SHIMOKOSEKI,' July 2;
The Lytton Commissioners acrİY- Norminal ed here this morning from Seoul 1/0 1/39- and was rousingly welcomed by al 1/72
| large crowd including Government 12 DaviĮ representatives. 1/7
105/10
10 11/16
ward will have been taken towards STORMS IN JAPAN the restoration of-national-pro-- sperity,"
Lord Snowden's Praise.
•H.R.H. Prince Georgo, at the conclusion of his speech at the Dominion Day dinner last night, said that if the response to the con.. version plan was successful, it might prove the beginning of better times.
30 BELIEVED DROWNED AS RESULT OF HEAVY RAINS
· (THROVOK REUTEL'S AGENCY.]
Later the Commissioners left for Tokyo by special train.
SHIPPING MOVEMENTS.
The R.M.S. Emprpes of Asia; ar rived at Nagasaki on Friday at 7.30. p.m., left that port on Saturday at 5 am., was dao kt Shanghai yes terday at 1.30 am., and leaves for Hong Kong to-day at 9 a
Tokyo, July 2 THIRTY are reported missing and
are believed to be drowned as The 25. Kanchow, which left This view was echoed to-day by a result of the banks of a rezervoir Shanghai on July 1, vía. Bwatow, the former Chancellor of the Ex at Mikimacht (Hyogo Prefecture). with: 30 bags of mail for Hong chequer, Lord Snowden, who desiurating after heavy rains. A largo Kong, is dus to arrive here to cribed the offer as a bold venture, number of houses were swept away, Morrow. but one fully justified by the Blorma ara reported to have greatly improved national financial worked havor and caused serious The .Nellore will leave for position and the strength of British floods in various parts of the Shanghai, Moji, Kobe and Yoko'
„Continued on Page 6.) country.
hama at noon to-day, July 4
& Company, Limited Hongkong
Tientsin
DRY CLEANED
SUMMER CLOTHES"
WHAT AN IMPROVEMENT: WHEN THEY COME
KOREANS FROM THE
STEAM LAUNDRY DRYCLEANING, DEPT.
NO SHBINKAGE OR LOSS OF COLOUR OF GENTS GABARDINE PALM BEACH, SILK, ALPACA OF MOHAIR GARMENTS. OUR STEAM PRESSES CANNOT SCORCH, SHINE OR SPOT.
*
THE STEAM LAUNDRY CO. Sanitary Laundrymen, Dyers and Dry Cleaners HEAD OFFICE and WORKS, Mongkok, Tol 37037, KOWLOON HOTEL DEPOT
HONG KONG DEPOT, 60 Queen's Road, Central. Tel. 21779, FEAX HOTEL DEPOT. Tal 29071. PENINSULA HOTEL (Visitors only)."
HONG KONG HOTEL
73 WYNDHAM STREET
TE SPECIAL VALETERTÄ, SERV
No, Peninapin Hotel Arcade Tal-58081,
364,Wathan Road (Next to Majoello Thostro 30' Tel: 68506
60, Queen Bood Centralize, 391870747061)**