SOOTHE & CURE
Sure, acide, poisoned ac,
tifos
Roxane, pucrfash, shawn, fary itch plusple, aber
N!
Abetitles, had
Jug, old wonde
·wders, som fook. chede, UC.
YOUR
SKIN WITH
ZAM-BUK
100THE pain, prevent blood-poison
So
and ensure rapid healing by. promptly applying Zam-Buk to any andden cut, bruise, burn, insect bite, or other skin trouble or lajury.
Zam-Buk is a wonderful antiseptic sint- ment. It quickly allays soreness, Irritation and swelling and, where tissues have been damaged or destroyed, it quickly grows now skin.
Because of its healing power and absolute reliablilty, Zarn-Buk is often spoken of an "A Surgery In A Two-Inch Box. Its un- rivalled success is due to the fact that Zam-Buk is a pure, highly-refined ointment compounded from certain rare herbal extracta which soak deep into the tiny pores where fatty salvos cannot penetrate. Zam-Buk is guaranteed
FREE FROM ANIMAL FAT.
Amongst other trombies for which Zam-Bek is unequaled So, sicers, tich, poisoned wonder
1 lega, ringworen, sore feet, piles, atc. Madieśna desbara everywhere all Zam-Bak in handy b
Full directions encissed.
THE WONDERFUL
HERBAL OINTMENT
Åpentr'zomMemra, Ullman & Co., Ltd., da, Den Vœux Boad, Hong Kong.
PHONE
23743
CENTRAL RADIO
SERVICE
KINGS BLDG
(Opp. Star Ferry)
1.2. 1407.
PORT OF LONDON'S
TRAFFIC.
FEWER SHIPS BUT MORE GOODS.
The effect of the world trade de- pression on London's shipping is shown in the annual report of the
RADIO EXPERTS-WORK GUARANTEED | Port of London Authority for the
This is the way to open the new Kiwi tin-`
KIW
BOOT POLIS
A
OPENING S
twist of a coin in the specially prepared slot opens the tia and the world-famous polish is ready for use.
-
Even dry, cracked leather will soon regain its natural suppleness after the use of Kiwi- Kiwi puts new life into old leather-keeps new leather young.
KIWI
THE QUALITY BOOT POLISHES
·BLACK & TANS
W. R. LOXLEY & CO YOIK BUILDING, HONG KONG
Latest
BRUNSWICK
and
MELOTONE
RECORDS
-Obtainable-
-from
THE
BRUNSWICK HOUSE Arcade, Gloucester Bldg.
year ended March 31 last.
The net tonnage of vessels arriv- ing and departing with cargoes, and in ballast, during 1001 was 40,074,550, compared with 56,093,308 of the previous twelve months and 67,578,356 during 1919.
During the year, however, tho Authority landed or received 2,474,- 713 tons of imported goods, an in-. area of 163,908 tons (7.2 per cent.) on 1830. The export traffic hand- led on the dock quays during the twelve months amounted to $17,478 tons, a decrease of 60,972 tane on the previous year's figure of 578,-
$49 tuna.
The stock of goods in the war- houses directly controlled by the Authority also showed a decrease --592,333 tony as compared with 621,390 tonn at the corresponding date in 1931. The shipping enter- ing the dry docks during the year amounted to 2,975,648 tons gross, or 405,891 tons less than that of the wet docks of previous year. The
the Authority showed a smaller de- crease, 25,040,930 tons as compared with 25,907,890.
Year's Balance..
The total revenue for the year was £6,602,880 and the expenditura £4,209,820, leaving A balance of €474,375 after deduction of interest and sinking fund charges
Despite the depression the works and improvements of the Authority showed good progress during the | year.
HONG KONG DAILY PRESS, FRIDAY, SEPTEMBER 16, 1932.
MONEY AND MARKETS
HONG KONG STOCK NEW YORK STOCK-
MARKET.
YESTERDAY'S OFFICIAL
QUOTATIONS..
EXCHANGE.
A.O.F.C. QUOTATIONS.
New York, Sept. 14.
Sept. Sept.
13. 14. Change.
The chief medium of trading ac- | Dow Jones Avoragen :— tivity yesterday was in the follow- ing; Lights at $17, Hotels at $11.10,30 Industrials 85.85 85.88 3,07 down Troms at 829, Telephones at $221.
Lands were also dealt in at vary ing rates.-
Hales.
Union Insurances, 8-102)/405. H.K, Hotels (Old), 810.85. H.K, Hotels (Old), 910.58. H.K. Hotels (Now), @10,40, Constructions (New) 814.
Buyers.
Hong Kong Bank, $1,585. Union Insurances, ́$495. Underwriters, 82.80. International Assco.; Tls. 40' H.K. Steamboats, 8222. Union Waterboats, 80, Benguet Consolidated, 817). Raubs, 8401.
Venz: Goldfields, 82.90. Providents (Old), 84.80.
•
H.K. Hotels (Old), $104. H.K. Hotels (New), #1040. Wing On Textiles (Shanghai),
$150.
Hong Kong Trams, 29, Peak Trams (Old), $134. Peak Trams (Now), 674. China Lights (Old), $18. China Lights (New), 810).- Hong Kong Electrica, 874. Telephones (P.P.), 822), Malabon Sugars, 827, Cements, (Combined), 814.40. Watsons (Old), 812}, Lane, Crawfords, 85.30. United Theatres, Tls, 3.33. Constructions (New), $1.40.
Sellers.
Union Insurances, 8500. Hong Kong Lands, 875. H. K. Realties, $8.80. Hong Kong Ropes, 812
SHANGHAI STOCKS.
Messrs. Carroll Bros have ru ceived the following cabled quota tions of Shanghai stocks:-
China Finance Corp. International Investment
Trust Co. (Ord.)
Cathay Land
New
Co.
China Realty Co. Shanghai Land Invest.
ment Co.
Engineering and Ship Building Works (Ord.) Shanghai Ducks and En-
20 Baila
32.67 20.71 2.86 down
BRITISH REVENUE CONTINUES TO GAIN
EXPENDITURE SHOWS
DECREASE
(BRITISH WINKLEKH SERVICE.j
RUGBY, Sept. 14.
CAUSES OF WORLD DEPRESSION.
A LEAGUE OF NATIONS. VIEW.
IRISH RAILWAY'S PLIGHT.
HEAVY LOSSES FROM' TARIFF "WAR."
GOVERNMENT RELIEF
DEMANDED.
A.
The League of Nations has just published a valuable study of world economic and financial rela- tions which is timely in view of
Dublin, Aug. 9.-The dinastinis- the approaching World Economic
affects of the "economic war" be- Conference. The publication deal. with balances of payments in altween Britain and Ireland received countries during 1930 and nlatratling emphasis to-day at 20 Utilities... 30.73 28.80 1.93 down THE British Exchequer returns annlyses capital movements in special meeting of the shareholders, continue to show an increase 1831. The volume is admittedly one of the Great Southern Railway of revenue and a decrease of ex-anly to be read by the serious stu ponditure in comparison with last dent of monetary problems but it year. The National revenue for the and its companions A Review of week ended September 10, totalled World Trade in 1936" and "In £8,308,401, exceeding the expendi-ternational Trade Statistics 1930" ture by £300,540.
Messrs. E. A. Pierce and Co. Report.
Fresh selling this afternoon in dicated that the market will have to meet further pressure and we would defer buying. If, however, prices are actively weak in the first hour of trading to-morrow, we would recommend trading pur chases.
Business done: 3,200,000 shares.
Lant Sale Sept. Sept.
13. 850 $53.
Air Reduction
14.
Allied Chemical and
Dye American Ca... 53) American Telegraph &
Telephone
773
7:3
501
108
American
Tobacco
77
75
Anaconda Copper Min-
ing
12
10月
Auburn
047
401
Borden Company
Canadian Profic
200 16
28
151
Consolidated Gas of
Now York
587 Missing
Drugs, Inc.
43)
491
37
342
512
17
201
101
Du Pont de Nemours. Eastman Kodak
General Electric General Foods General Motors International
Harvester 941 International Tel, and
Tel
Liggett and
"B"
Loew's Inc.
Myers
Pacific Gas and Elec-
tric
Pennsylvanis Railway 181 Radio Corporation Sears Roebuck
R* 1 * ** ****** • • I* TE** T: TFT
181
.10
567
39
214
18
Standard Oil Co. of
5.20
New Jersey
32
31
Socony Facuuth Corp. 103
10
7.40
Union Carbido and
11 90
Carbon
24
Yangtze Financs Co.
4,30
Union Pacific
International
Assurance
4.00
11 10
21 50
United States Steel.. 128 Westinghouse E. & M.
341
30
3.30
gineering Co. 89.0 Shanghai and Hongkew Wharf Co... Shanghai Electric Co... Ewo Cotton Mills Ltd. Shanghai Cotton Milla.
Ltd,....... Zoong Sing Cotton Co.,
Ltd, American Asiatic Under-
230.00 29.50 13.60
04.00
writers American Oriental Fin."
10.00
25.00
ance Cor, "B"
Asia Realty B
Chinese Gold & Bonds 1925
25'00 97.50
03%
ADVISING RUBBER
INDUSTRY.
Figures from April 1 to Septem- ber 10 show that customs receipts amounted to £73,127,000, an in- crenss of £15,538,000 on last year. For the same period the excess of ordinary expenditure over revenue was reduced from £07,928,595 to £33,133,251. The sum of £28,139,920 was expended on the repaying of £20,000,000 obtained from France in September, 1831.
JAPANESE BANKING
F
REVIEW.
MARKED IMPROVEMENT IN LAST SIX MONTHS.
CLEARING House figuRES.
Company.
Sir Walter Nugent, chairman of the company, said that the British tariffs on Irish produce, and the Irish emergency duties on British
form a compendium of all that goods were likely to add £500,000 anyone should wish to know of the to the company's losses this year, broad development of world com- and would jeopardise the payment. merce and finance in recent years. of any dividend.
These publications are the work
In
If the Government refused relief. of the members of the League's he added, the company would be Economic and Financial Section, a compelled, either to close down, or body of experts who have previous to submit to nationalisation.
Nationalisation, he declared, ly given much interesting and use ful information to the banking and would be disastrous to the com-, their merce trading community.
of the Free State, to the latest publication they have some ratepayers, to the railway-cm- interesting comments to make upon ployees, and to all-concerned,
and economic the world financial dobacle; its origins and probable causen Over against the general Mr. Adam Blood, speaking for fall of prices which is the usual over 600 shareholders, said that the explanation of the present depres immediate crisis was due to the: sion, the League experts emphasis tax on British coal, which was, he the subtler phenomenon of the dis-understood, the only coal suitable location of the prices of raw ma- for the company's engines. terials and those of manufactured
Tax on British Coal,
** The railways are certainly not.
goods. There is a significant con- in a position financially to submit to be penalised in "order to help a section between this disparity and the movement of investments. The political policy," he said:
Tokyo, September 7th-There has been a marked improvement in the banking business since April. Both deposits and advances are now in chief borrowing countries are the areasing slowly but steadily. The raw produce countries who attract position is fully demonstrated in money when raw produce prices the weekly returns by the Tokyo are high. Conversely when indus. trial goods are dearer the investing Creating House on Tuesday (6th).
Aggregate deposits at associate countries, being mainly industrial, Tokyo banks at the week-end were keep their money at home. Bur Y. 2,014,001,000, an increase of whereas industry can quickly re- Y.21,780,000 over a week ago, while
The railway company is seeking Government relief in the form of control of freight traffic and unfair road competition, and removal of the obligation to run uneconomic lines and to maintain present. wages and conditions of service.
It was stated that the company
their advances increased by spond to a falling market by check- Y.9,303,000 to Y.2,226,088,000. It is ing output, agricultural output was negotiating with the workers". the first time since January 30th cannot be so promptly curtailed. unions for substantial reductions in that deposita have exceeded Y2,000,000,000. The following are Agricultural countries is adverbe wages. the deposit and advance figures times try to make up in quantity
since the end of March,
it to
for the loss in value and then, Deposits Advances
(Unit-Y.1,000).. when foreign capital is again avai- March 20... Y.1,840,004 Y.2,271,207 able, use
carry growing April 30..... 1,959,350 2,246,848 stocks. May 28 ......
1,028,089 June 25 ...... 1,065,738 July 1ọ .................. 1,070,233 1,000,044 August 27...
2,253,079 2,240,241 The desperate efforts of the agri- 2,209,054 cultural communities, when foreigh
2,195,301
ber, of be rubber companies, have been appointed to serve on a com- mittce with Mr. Bishop.
Several meetings of the commit- ten have already been hold and some of the major problems of the industry discussed. The committee with Mr. Bishop is expected to serve in a co-operative and advisory capacity with the industry, rather, according to the Japanese pay for industrial imports gave the Press, is due to the fact that those world's exchange and distributive who borrowed money on the security machine a heavy jolt. That, ae of their fixed deposite and deposit-
than adopt a dictatorial policy..
According to announcementa from Mr. Bishop, the first recommenda tions of the new committed will be forthcoming shortly. There will not be made public however, and will be handed to the executives of the
| industry merely as suggestions.
Free Services Unethical, "The first thing we will take up
The improvement scheme at the AN AMERICAN COMMITTEE. will be these free tube offer, free
north end of Lavender Dock, Bur- roy Commercial Docks, consisting of a new quay, sheds and rond has been completed and brought into use. Various improvements com- prising reconstruction of quaya, sheds, renovation of hydraulic power station, and a new office have also been effected.
AMERICAN-ORIENTAL
FINANCE CORPORATION
PROBLEMS FACING
MANUFACTURERS,
September 3 2,014,991 2,226,688 landing abruptly stopped in 1930, It is remarkable, however, that to export their produce quickly fixed deposits ut Tokyo banka have and abundantly in order to try and fallen off V.3,310,000. This shrink-
afresh at the old interest rate cording to the League authorities, immediately before the lowering of must be considered as one of the
returned the interest rate,
the money on maturity of the hypother fundamental causes of the present
world depression. cated deposit accounts.
DEARER COAL IN JAPAN.
COLLIERY CO-OPERATION.
EXCHANGE.
CLOSING QUOTATIONS.
On London 1 -
September 15, 1939.
Telegraphic Transfer... 1/4 Bank Billa, on demand 1/4 Bank Bills, 4 months"
might Credita,
Ox
P
****** 1/42 mouth sight.............1/4
-Bank Hills, on demand 592;
Oredita, months' night 63
Ox NaW YORK:--
Bank Billa, on demand £31. Credita, 60 days' sight. 843- ÖN BOMBAT:
Telegraphio Transfer Baak, on demand.. UN CALCUTTAC
88
Telegraphic Transfer Jee
Bask, on demand .. ON SHANGHAI
Bank, at sight we
ON YOKOHAMA 1--.
On demand
08
ON MANILA-On demand.... 48
Call loans and cash in hand were Y.207,249,000 and. Y.159,161,000, res pectively. Compared with a week ago, this shows an increase of Y.14,833,000 in call loana and Y.10,100,000 in cash in hand. This reflects the slackness of money... Advances including call loans totalled Y,1,321,647,000, & decrease of Y.10,382,000 from a week ago. This drop is dus largely to a pea sonal recovery of call money. Cash that has failed most conspicuously in hand increased by Y.3,727,000 to to go down to pre-war prices. The
OH BAIGON--On demand', Y.89,087,000.
colliery owners have always been Os Bangko
DEBENTURE HOLDINGS
DECREASE.
Tokyo-Coal is one of the thing
ON SINGAPORE: --
On BATAVIA:-On demand. 872
On demand
87) ON HAIPHORS
On demand
139
service, free this and free that," Mr. Bishop said. "They are un- ethical and ought to be done away with at once. Later we will get around to other things that we be- lieve should be corrected to help Headed by George T. Bishop, the situation in the rubber business,
more active in keeping up orices On demand than in serving the public or im. | Sovassigns, Bank's Buying president of Continental Shares, which certainly is deplorable."
One During the year 1,388,285 cubic (states the Rubber Age) a com-
Asked if mail order price cutting of the returns of the eight largest result was that, when the big coul
In marking a comparative survey proving labour conditions,
BAR SILVER, DOC (in vinnig 17 5/18 yarda of material were removed
and competition figured in the com- from the river in order to main-mittee of five prominent business mitter prospective study Mr. Bishop banks in Japan for the first half strike took place in America, it was Lain and deepen the channels; and executives interested in the rubber said: Yes, we have been to see of the year, it is noticeable, that found that the coal out with costly Dr., Makido (Mitsui) Mr. Mitani 1,250,27% cubic yards of mud were industry has been formed to serve the mail order people already and except the Sumitomo, the Daiichi removed from the docks during the
have talked the situation over with and the Kawasaki-100th, their hold labour in Australia could be land-[(Mitsubishi) and Mr. Isomura as advisers to the industry as a them. I think we will find them ing of bonds, debentures and shares od in America cheaper than the (Mokkaido Mine and Ship. Co.), same period.
whole and attempt to work out some co-operating in whatever we do." show decreases from the previous of its problems.
Officials of avary rubber company term Particularly is it evident Japanese coat, whose owners pre- It was then arranged that the The formation of this new group mittec, Mr. Bishop said, but he did and the Yasuda should show falle The Japanese Press now promises control committee to study the pro have been approached by the com- that the 34th Banks, the Yamaguchi ferred to squeeze the home market. Rengokai should appoint a special
is said to be the result of a dinner not believe it would be wise to name of over 10,000,000. which was attended by the heads
them.
As regards national bonds, all a further raid on the public purse." [blem. "We expect to call on the heads banks except that 34th, the Yama- | of practically all the inading rubber of small units of the rubber busi guchi and the Yasuda, report in Japanese collieries, the news It is learned that the committes companies in the country and at nees right away," Mr. Bishop said. creases. Both the Sumitomo and papers report, are to exercise con will first discuss control in Kyu which Mr. Bishop proposcal & plan" Some of these smaller factories the Daiichi witnessed increases of trol of marketing throughout the shu and then in Hokkaido and to set up some dictatorship in the are mighty important factors in the over. X.10,000,000 in their holding. industry which would help solve the business and we will see them beIt is further notoworthy that the country. They will first endeavour Johan (Tokiwa) districts. At pre.. industry's present dificulties. fore anything is done. What we holding of foreign currency bonds to gain control in one district and sent auch districts have organisa- In addition to Mr. Bishop, Harris want to do is get the slant of every by the Mitsui and the Sumitomo then expand it to other districts. tions to promote their common in- Creech, president of the Cleveland representative of every company on
dropped to Y.12,900,000 and Y.4, The South Manchuria Railway terests, and it is expected, that these Trust Company, and a director of the situation before we do any 483,000, respectively. Firestone Tyre and Rubber Com- thing
The following are the aggregate Company declares that in the event will be utilised... holdings at the eight largest banks of the control scheme materialising Formerly The Bouth Manchuria it will be glad to co-operate with Railway was regarded as a sort of (Unit-Y.1,000) .181,110, 6,300 Japanese collieries.
safeguard: If the Japanese prices 282,307 3,071' 210,955+2254 The Sekitan Rengokai discussed became too high there was the pos 972,265 +4,808 the matter at a special committee sibility of importing from Bushun 188, 893 11,708: meeting when, besides Mr. Mats- but apparently the S.MH. is now
82,000
-10 4an umoto, vice chairman, were present ready to join in the conspiracy.
14,141 --(Continued at foot of next column) Japan Chronicle.
Agents in Hong Kong
Lands Limited
Gloucester Building. Tolophone 28380.
TARZAN
COMING
pany; Irence du Pont, vice-Chair. In the formal statement which man of E. I. du Pont de Nemours | Mr. Bishop gave out in New York and. Co., representing the du Pont | he said." The committee plans to intercats in the United States investigats various trade practices Rubber Company; O. 8. McCain, and to consider the elimination of chairman of "the" board" of Chase those which are unsound and legal- National Bank. and Robert Lely mhy, be abolished. It will set in Clarkson, president of Chase Som 2 purely advisory capacity without rities, representing the Chase bunk-power and feals that there may be ing interests as bankers for a num-a number of subjects upon which it
Wankin
can make helpful-suggestion.........
Mitsui Mitsubishi Sumitomo Daichi A Yarida Kawasaki t
Yamaguchi
34th
1032
130,544
112,283
1031