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PHOTO OF NERVE-CELLS SEEN THROUGH MICROSCOPE

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CHINA YEAR

The

BOOK.

new edition published in June 1932, is an indispensable work of reference in every Government department. public office, library and business firm in China. Among its contents are:-

A Who's Who of nearly a thousand prominent Chinese

personalities;

Custome, financial and business statistics;

Spacial articles on floods, labour, education, the Kuomintang..

etc.

Complete documents on the Japanese boycott, the Shangbai

hostilities, and the Manchurian question;

Treaty negotiations with Foreign Powers, and a summary of

the Feetham Report.

Price: Mex. $20.

Kelly & Walsh, Ltd., Booksellers, Hongkong.

Publishers: NORTH-CHINY DAILY NEWS, SHANGHAI.

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HONG KONG DAILY PRESS. MONDAY, JULY 25, 1932.

AMERICAN FINANCE.

ALL BANKS TO BE UNDER FEDERAL CONTROL?

New York, Juna 27-What is re- garded na tacit approval by the National Industrih! ·Conference Board, representative of the most conservative thought in financial and industrial America, of a scheme to bring every bank in the country under federal jurisdiction is contained in a statement issued by the board to-day, following a survey of the banking structure by its experts.

M

OBITUARY

MR. F. ZIEGFELD

OF FOLLIES FAME

(THROUGH REUTER'S AGENCY.)

VENICE'S FEAST OF THE REDEEMED.

IMPOSING CEREMONIAL ON THE GRAND CANAL.

VENICE, July 17-Venetians gave a colourful picture last night to the blaso cosmopolitan world that flocks aanually to the Lido, when the cole- LOS ANGELES, July 23.

bration of the traditional Feast of FLORENZ ZIEGFELD, the Redeemer took place. This has whose name has been a house been observed since 1578, when it hold word among countless thou was originated in gratitude for sands of young women who aspired cessation of a plague then devastate to theatrical careers, and whose ing the city. discernment and artistry produced SQUITE of

the greatest musica shows the world has ever seen, died suddenly im Los Angeles to day. He was victim of pneu

The board holds that a "lasting solution" of the American banking problem is not to be found in any monia. of the various measures enacted by Congress recently for the relief of

TROUBLES

A night-long procession of the faithful passed over the bridge of boats thrown across the canal of tho Giudeeen to make the ritual visit to the church of the Redeemer, where the religious part of yester.. day's ceremony was carried out.

The Grand Canal and the Giudecca echoed all night with the voices of singing peasants. On the island of the Guideces, the customary fair took place. A procession of boats, MAURICE CHEVALIER SEEKS, illuminated with Chinese lanterns,

the financial situation. It regards FILM STAR'S MATRIMONIAL the difficulties of the situation as "too diverse and deep-rooted" to bo permitnently adjusted by pro- visional acts for liquefying the nsacts of banks, and especially the the assets of the large number of small, independent bank units"

DIVORCE

(THROUGH REUTER'S AGENCY.]

glided down the waters of thei Grand Canal in the evening and during the night, swept past the square of St. Mark's and the his toric palace of the deges, and lost i itself in the gray waters of the la goons. It was a meeting of the mo dern world of the de-luxe hote with the folk-lore of ancient Venice, and the effect was picturesque in

CHINESE INSPECT RUHR

The report reviews briefly deve- lopments in the banks field in the last, two years and charneterzies the

Los Angeles, July 23 situation at the beginning of 1031 MAURICE

Chevalier, French as one of the gravest the American

cinema star who has more re financial structure has ever known.cently made his home in America Measures by President Hoover for and associated himself wholly with checking the forces of credit American production companies, is the extreme. checking the forces of credit liqui-seeking a divorce on the grounds dation are described, and the report of "incompatability." declares that, although they have appreciably relieved the credit stringeney, the difficulties are "not likely to be permanently disposed of by governmental creation of new financial institutions for the pur- pose of providing alternative credit resources to those ordinarily pro Ivided by private independent banka for special branches of production, unless the Government is to be ex

pected to undertake ultimately the financing of all'industry and trade." "If unification of legislative and administrative control is to be at tained, must there not be a resort to soms measure of compulsion { " naka the board.

OUTLOOK FOR

BUSINESS

PROGRESS IS NOW BEING MADE.

A petition has been filed againa: Mme. Chevalier, formerly Miss Yvonno Vallee, petite and charmu-f ing Frenchwoman.

A reconciliation

was attempted

COAL FIELDS.

Berlin, July 15-The Chincec Minister to Berlin, Mr. Liu Wen in the courls yesterday, according Ruhr district in order to study the Tao, is making a tour through the

divorce petition is hearable in The Minister is accompanied by a to California State procedure. The German maing and iron industry.

October next.

Maurice Chevalion maintains that he and his wife are friends at pro- sent, but if they remain together for a further two years they will be enemies!

badly nooded purchases.

"The present level of steel opere- tions appears too low to supply the country's needs for long. If fur- ther cause for confidence needs to he established, this industry and

others, seem bound to revive.

"Stocks of cotton textiles have i been brought down by keeping pre- duction below shipments until they are about 00 per cent of what they New York. The business outlook were during 1930. Stimulated by is better than it has been for sever. hopes of more results during Na al months, E. B. Moran, executive [tional Cotton Wock, however, pro- sules manager of the Bradstreet duction picked up, while purchases Company, New York City, said did not materialize, and Brad- upon his return from the thirty-street's index of cotton textile Aeventh annual convention of the stocks, which is adjusted for sca National Association of Credit sonal variation, rose from 67.0 in Men, which was held at Detroit last

March 10 60.8 in April.

weak.

Mr. Moran explained that his statement was based not only upon his own researches in the business field, but upon talks that he had with business lenders from all over the country who attended the con- vention.

"Industries," said Mr. Moran, "ars learning to make a profit at

While this is not sufficient rise) to cause any undue alarm, it is progress in the wrong direction and has undone what had been ac- complished up until that time.

"The news that European gold withdrawals have been practically completed should do something to inspire confidence.

"What is most important of all,

a lower ratio of production to we have so far successfully evadel capacity and the whole distortion

that was prevalent during the last any dangerous inflation. This is a

10 years is being adjusted back to most favourable dad tangible sign. normalcy.

If the panic was caused by infla

"It is likely that February and tion, recovery will, be brought about. March BOW conditions at their worst Bince then business failures

only after deflation."

have declined, and the decline in prios lavels has been, at least, some. what loveled off.

"As soon as the world consumes what has been produced so that de. mand is in a closer relationship to supply, then, and_only_then, -'

-will- good production begin again.

16

Already. .we soc certain signs of this Orders for locomotives are considerably above the last year, showing that the railroads, who havo beou buying-practically no equipment for so long, are DOW, with the aid of the Reconstruction Financo, Corporation, making sonis 10mtinued on neet Voluma.)

"People Who Matter”

PEOPLE

E WHO MATTER, to the advertiser are the poeple who can maded to fiary his goods. Moat

these people buy and raid the..

Hong Kong Daily Press,

Chinese commission of engineers and other experts. A large number of mines, the tube-rolling works of the German. Steel Trust, and the works of the Dortmund Union will be visited in the course of the

tour.

ELIZABETH ARDEN has made guessing ages an impossibly difficult game..

She has taught women to hold on to youth, not to hide the ravages of age with cosmetics but to keep their skin young, firm and fresh by scientific

care,

HER BOOKLET"The Quest. of the Beautiful" will tell you how this is done, and there is now a SPECIAL DISPLAY of all the Latest Elizabeth Arden preparations at

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P.B. 17

7

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