NEW ADVERTISEMENTS
THE MACAO JOCKEY CLUB.
PROGRAM The Second Extra Race Meeting to be bold in Macao on Sunday, 5th February, 1933, may be obtained at The Sports Club, Hongkong Jootsy Olab Stables, or at the Offices of Messre. Percy Smith, Seth & Fleming, 8, Des Voeux Road Central.
ROGRAMMES and ENTRY
ENTRIES Close at NOON- TUESDAY, 24th JANUARY, 1993,
i
NOTICE.
R.
on
[261
HONG KONG WATER SUPPLY.
I holy of water will be given in
is hereby notified that a constant
all distriata on the 25th, 26th and 27th January, in connection with the Chinese New Year Festival.
R. AL HENDERSON,
Water Authority.
"PUBLIC WORka DepartmeMT,
Hong Kong, 17th January, 1933.
1940
THE INSTITUTION OF ENGINEERS & SHIPBUILDERS OF HONG KONG
A Paper entitled
ENGINEERING ·
METALLURGY"
will be read in the Institution
by
Mr. B. SIMPSON, Metalurgist, Taikoo
011
THURSDAY,
JANUARY 19TH, at 5.45 P.M.
Members and their friends are invited to be present.
[242
- DIOCESAN BOYS SCHOOL SPEECH DAY
ON FRIDAY, JAN. 20TH, AT
THE
THE SCHOOL
THE 'Spooches will start at 3.30 p.m., with The Hon. Sir H. E. Pollock in the chair. The Rt. Ray.
the Bishop of Victoria, who will be officially welcomed as chairman of the School Committee, and the Hon. Dr. R. H. Kotewall have also promised to speak.
"All those interested in the School, pocially Old Boys and parents, are cordially invited to be present, as tho Headmaster is very anxious to meet
many as possible.
The apocches will be followed by tos and refreshments.
NOTICE.
UNITED SERVICES
·RECREATION' CLUB
(224
on Monday, 23rd instant. Entries CLOSE K January.
HONG KONG DAILY PRESS. THURSDAY, JANUAR Y 19 1933.
ELIZABETH ARDEN has made guessing ages an impossibly difficult game.
$
She has taught women to hold on to youth, not to hide theravages of age with cosmetics but to keep their skin young, firm and fresh by scientific
care.
There is now a special display of these preparations at Watson's in the new Elizabeth Arden salon, where a trained assistant will show you the correct use of these aids to Beauty.
A. S. WATSON & CO., LTD.
THE HONG KONG DISPENSARY EST. 1841.
WEDDING ANNOUNCEMENT,
Nest of Binging. Birds]
News
and Views
Everyman's Psychology.
the United States the decline in wholesale prices in the same period. was continuous until June last; s sharp upward movement then took placo, to be followed by an alinost equal reaction; since September, 1931, a net fall of about ten per
We publish in this issue the first cent has taken place. Meanwhile When the Herefold Times.recoat- in that country the cost of livingly observed its centenary it was re- of a series of articles on psycho felt about as heavily. A similar vealed that the staff contained two logy which a real expert on this persons named Peacock, two called subject, Father G. Byrne, S.J., has One of state of affairs would probably be Parrot, one Woodcock, one Cocke-promised to contribute." revealed by an examination of rell, and one Finch. The newspaper the troubles of the new scienco is aviary was completed by the that ita exponents wrap it up in Father other gold currencies. If those cal fact that a son of Sir William an unintelligible jargon. culations are correct, and it may Seeds, British Ambassador in Bra Byrne's object will be to tell in clear and simple language what be a big "it"-for the data avail. zil, is also on the staff.
Acienco is discovering about the able may not be strictly compar- India's Sandhurst.
nature of the mind of man and able-it is clear that while the
to reveal how this knowledge can internal purchasing power of the
he of service in every-day life. pound is little if any greater than a year ago, that of the dollar has increased substantially. On this basis. it would not be reasonable to account for a decline in the dallan valuo of the pound by some where betweenten and fifteen per cent. Bat: 116.
The conclusion is as follows. It the two currencies had started the perind in equilibrium a movement
A Committee of Europeans and Indians appointed by the Govern- ment in Indin under the chairman- ship Lt.-Gen. Sir Andrew Skeen, then Chief of the General Staff of India, in 1997 has reported favour
the establish-¦ ably interalia, an ment of a Military Academy in In- dia for training of Indian youths The ceremony of inauguration of India's new Sandhurst was under taken by Sir Philip Chetwode, the Commander-in-Chief of the Army in India last month.
Cromwell' G.H.Q.
Sir Frank Benzon.
The Haredity Principle.
The Marquess of Salisbury whose title goes back to Elizabethan". days said in defending the Here dity, principle in any "reformed" House of Lords said:
When I look round Europe and see institutions tumbling down, I am not sure that it is the heredity principle so much as the represen- tation principle which is upon its trial. Would it be right to leave the King alone as the only great institution acting by, hereditary right? Do you think, we should be acting the part of patriotic Eng- lishmen and loyal subjects if we deprived the King of the support which the hereditary right of the House of Lords undoubtedly gives him 1
Sir Frank Benson, who has re- turned to the West End stage at the age of 74, after an absence of
"I say that no statesman, no twelve years, can claim that he has played the same part, off and on, man who really considers this sub- for nearly half-a-century. Inject deeply, would for a moment April, 1887, 48 a young actor expose the Throne to such a posi manager at the Shakespeare Memo- tion of isolation na is suggested if rial Theatre, Stratford-on-Avon, you abolish the heredity principle he appeared as Doctor Caius in in the Upper Chamber." what the First Quarto called " most pleasaunt and excellent-com- ceited Comedie of Sir John Fal staffe and the Merrie Wiues of No Time Lost, Windsor."
The historic old Sun Inn pro- of this order-10 to 15 per cent.perty at Saffron Walden, Essex, would have brought the pound rate, the headquarters of Cromwell and Fairfax in 1847, has been bought other considerations apart to a
for preservation by the National,
One feature of the exchanges be level fairly close to 41 dollars. The Trust and the Society for the Pro
Laat month, at the Winter Gar- tween Whitehall and Washington writer in the Midland Bank pub-tection of Ancient Buildings. Mr den Theatre, London, Sir Frank on the subject of War Debts was lication thinks, with others, that William Adams, Deputy-Lieutenant prior to Great Britain leaving the of Essex and Town Clerk of Saf- gain played the voluble French the rapidity with which the mes fron Walden, has been largely insphysician, Caius, in "The Merry cages were transmitted. Even a Wives." The producer of this 7,000 words' Note was despatched gold standard-possibly even since trumental in securing the property 1095 when she returned to the gold for the National Trust and in rais Christmas revival is Mr. Oscar to Washington in less time than it ing the money. The property is Asche, who plays Falstaff. He be would take a first-class typist to basis--the pound was overvalued at Fifteenth Century hall, and solar gan his stage career with the Ben- copy it. The Notes were sent in the five figure Government code, son company.” its statutory parity. Working back house," in excellent preservation.
from the Foreign Office to the Gen- eral Post Office by messenger, 'and through movements in purchasing Above the ceiling is the medieval
thence by pneumatic tube to the power and sasuming the October, original roof, still stained with smoke from the open fire in the
Central Telegraph Station in Moor- 1832, average exchange rate of 3.40 middle of the hall.
gata, whence they were cabled by dollars to represcat equilibrium,
way of Montreal to Washington...... then the true rate before Great Britain's departure from gold would have been a little higher thau four dollars. The writer's final conclusion may be given in his
actual words,
*
Costs £25,000: Assets £501
Mr. William M. Kneale, against whom a King's Bench Division jury awarded £20,000 damages for libel on Messrs. Lever Brothers, of Port Sunlight, was refused a stay of execution when' appealing for leave to appeal.
* Emotion "1
Paris-A lady who recently paid an expensive visit to her hairdresser iin honour of her daughter's wed- ding was horrified to discover on the morning of the event that her hair was coming out. By midday the situation was so desperate that the unfortunate woman had to pay a second and more urgent visit the hairdresser, and arrived at the Mr. Justice Branson pointed out church transformed by thick black dollars. The low rate for the pound" It would seem doubtful, whether that the usual terms of granting a tresses: Unfortunately in the hurry at the end of November was sterling was in fact so heavily over stay were that a substantial portion the hastily improvised coiffure be generally attributed to the imminent valued, on purchasing power con of the damages and the taxed costs came displaced, revealing to the Payment of the December instalment siderations, as these figures would be paid into Court. Sir Patrick wedding guests the full extent of
Hastings, K.C., for Messrs. over the disaster, of interest, etc., on the War Debt indicate; it is equally doubtful, Brothers, said that the costs had therefore, whether the true value of been taxed that day at £5,000 as owing to the United States,
beer incurred by Mr. the pound in October Tast was as having
Ensale. Mr. Justice Branson ask low se 3.40 dollar If this conclued Mr. Kacale if he had any offer an analysis of the causes of the sion be accepted it follows that the to make. Mr. Kneale-All I can recent decline in the pound sterling inherent value of the pound, as provide is £50. and has come to the conclusion that judged by relative purchasing the true value of the pound is some powers, now lick above 3.40 dollars what higher than the actual market but below 4 dollars. The figure ia quotation in the recent past. As certainly lower than when Britain this question of the exchanges is left the gold standard, but probably 33, Fleet Street, of vital importance to international higher than the actual market trade, it is well worth, while giving quotation, and this would appear th sore consideration to his argu-have been the position almost
throughout the year,” ments.
The marriage between Miss GRACE Ho TUNG, daughter of Sir Robers and Lady Ho Tung, and Mr. Horace Lo, son of Mr. Le Cheung Shin, will be solemnised on Monday, January 30, 1933, No formal invitations are being issued, but friends will be cordially welcome at the Recep- tion at the Hong Kong Hotel at 4. p.m.
Editorial and Business Offices: 11,
Ice House Street, Tel. 30251.
Night Editor (Wanchai Office)
Tel. 24511.
London Office:
E.O.
The Daily Press.
HONG KONG, JANUARY 19, 1933.
EXCHANGE & PURCHASING
POWER PARITY
One of the most difficult problems
A writer in the Monthly Review of the Midland Bank has attempted
The writer begins by pointing out that the value of money is what money will buy, and that according ly the value of any particular.unft of money is what that unit will buy in the country where it is current From this it follows that theor etically the value of one currency unit in terms of another is a ratio
THE DIRECTORY AND CHRONICLE
Wx are pleased to be able to an- nounce that the Directory and Chronicle of the Far East for the year 1933 is now on issue. For the
Mr. Justice Branson-That perfectly ridiculous.
From the Files.
LOOKING BACK 75 YEARS
is
Several subscribers to the forth- coming performance of School " by the A.D.C have complained to
# Getting Wise."
It is not only the stay-at-home Hollywood-minded American who gets fresh ideas about ac.. A tourist from the New World was being shown over the basilica at Parenzo.
Just how "old will this building beta he saked the guide. "It is que of the earliest Christian build- inge in this part of Europe," he The victim has now brought an was told. Yep," said the travel- action against the hairdremer, i whom she alleges to be responsible but what's its date." "Well claiming £200 damages. The hair- said the guide, the baptistry dates dresser pleads not guilty, and de- from the year 636.” "8.c. or A.D1" clares that the loss of his client's inquired the American, with intel hair was due to emotion conse quent on her daughter's marriage, ligent interest.
Local and General
Two cases of small-pox and one of typhoid, were reported on Tues day.
The
of annual meeting
St.,
us of the very early hour (8. a.m.) Patrick's Society takes place at the at which it is necessary to be at Hong Kong Hotel at 5.15 p.m. to- Messrs Lane, Crawford & Co.'s morrow.. on Monday next in order to obtain
even fairly good seats. Mr. Pun Hiu Cho has been elect good or at the Theatre on the following ed, Chairman of the Board of Direo evening, and suggestions have tors for the Tung Wah Hospital for been offered as to the propriety of the present year. altering the hour to noon, or at
A debate takes place to-day at Do wa devota the Y.M.C.A., on too much time to sport!" Mesara. J. H Hunt and C. Wright will speak for the affirmative and Mr. F. Bernard will take the nega tive side.
A collision between a motorboat, the Man Lik, and a steam launch, Hop On, occurred on Tuesday night off Stonecutters Island, as a result of which the motorboat was sunk, Tha crew were rescued by the
launch.
between the respective internal pur past seventy-one, years, ever ginos least to 10 am- Hong Kolurgy" will be read by Mr. 8. When charged before Mr. Scho
chasing powers of the two. Thus, the first appearance, it has been
Daily Press, Jan. 19, 1863.
if one pound will buy in Great our hope to publish the Directory LOOKING BACK 50 YEARS
MEMBERS and Subscribers are of finances is that of the foreign reminded that the Club's exchanges, This is particularly so Tennis Tournament will commence when a currency has parted from
dollars. 6 p.m., Friday, 29th its metallic parity, as in the onse of Great Britain, which, as all the world knows, left the Gold Stand; ard in September, 1931, and who paper money, the pound sterling has undergone considerable Buctus tions in torma of the gold curren-
[247
Britain as much as four dollars early in January, but our other and For Sale, ax. "Eulalie" from will buy in the United States, then bigger aim that of producing the Bordeaux Brandy in Caaks, 1 the pound is probably worth four most accurate reference book on the casks, and Cases: Claret in Casks, This is what the writer market has previously made this and in cases: Liqueurs, Stationery
Perfumery, French Preserves, and calls "purchasing power parity impossible. Time means little in the Pate's Trutles, Olives, Capers, and the underlying tendency is for possible. Time means little in the Mastard. Sardinen, Green Teas, exchange rates to move in con changeless East and the most fer- Olive Oil, and Sperm: Candles formity with it. Of course other vent, and continued appends to firms Vaucher Freres long
Daily Press, Jan. 18, 1858, factors, many of them intangible, to send information about their such as fears and hopes, affect the personnel, their cable address, their Looking Back 25 Years. actual quotations on the market and agencies and activities, in good As against currencies that are not for long periods there may be a time have not met with the hoped based on gold the British pound wide divergence between the actual for repono. Last year saw a RAFT Programmes and Entry
Forms for the China New Year has held its own well and the move-quotation and the purchasing power change of hot, with the result that Meeting to be held on 28th January, ments up or down have been alight, of parity. An examination is next the 1933 Directory has now made miny be obtained at the Secretaries It is interesting, however, to note made by the writer of the relative ite bow. Clab and the Sports Club.
THE PANLING HUNT AND RACE CLUB,
CHINA NEW YEAR MEETING.
01 THURSDAY, 10th JANUARY,
By Order of the Btewards,
· TROMSON E CO., Chartered Accountants,
Secretaries.
cies.
.❤
tham since the international patrol
A paper on Engineering Metal- Sumpson at the Institution of Engineers and Shipbuilders to-day at 6:45 p.m.
•
The annual dinner of the Chinese Company of the Hong Kong Police Reserva takes place at the Club House on Monday, January 30, at gp.m.
field at Central Magistracy yester- day for bringing an unregistered mutant into the Colony
D stated that the niui-tes was given to her as part of a dowry. She was imed-810.
Following game of marbles at Wilmer Street, Wanchai, a "fight" enried between two boys and res The death occurred at her resi- multed in one of the youths. Wong
deace in Ice House Street, Seater day of Mrs. JC Thom, who was in her 77th year. The funeral will take place as 5 p.m. today.
Ping Kwan, aged 15 receiving a stab wound. He was later removed to the Government Civil Hospital
The second petition for the -- Canton and West River steam- The death of Dr. B. H. Mellon, prieve of Cheng Kwok Yau, bear. boat officers talk a good deal about former Health Officer of Hong ing some thousands of signatures the good that has been or is being Kong, has occurred at Palama, including those of many Propedis accomplished in the Delta by the Majorca Island, on Friday Tust was handed to the Government British naval nasistance now being The late Dr. Mellon was 45 years laat evening. It is understood the given to the work of coping with of age, and entered the Hong petition will come before the Execu piracy. Where formerly such derde Hong Government Service in 1991, tive Council this morning
Prize, distributions take place to day at 11 am. at the Ellis Kadoprie was begun, British prestige has Owing to the passing of Mrs School for Indians where, Mr. A. been more than strengthened, as Forsyth a much loved member andel Arculli will distributed the cording to these witnesses, who ex-President of the Women's Guild awards. A similar function is claim that far inland from thethe At Home arranged for being held by the Hwa Nun Col waterways the significance of the yesterday we postponed. It is lego at the Ko Shing Theatre where change has been appreciated, requested that every lady interested. Mr. Wong Kwong Tin will give
when it is announced in this column scholars. Hong Kong Daily Preis, Jan: 10, will make a note of the future dates away, the prizes and address the next Saturday, and make a potat of being present, tr
Menu News has recently been rece
in the Colony announcing the In keeping with the rural tradi- Two summonses for storing films in Ottawa of Sir George tions of India, the first newspaper on the premises without notifying well-known Canadian
age of eighty-five in the world to accept subscription the Inspector General of
were preferred against the United Perth, Scotland, the
id of 33, byferien minister;
the fire ; hin
1908,
Office the Hunters' Arme, Hongkong how the pound has fared when con purchasing power of the pound and. Once more a long tale, might be of lawlessness were of daily occur. He retired front the Service in 1931,
Entries CLOSE at 18 O'clook NOON | trasted with one of the strongest the dollar since Great Britain's told of revision and enlargement rence, very little has been heard of being invalided onfig
gold standard currencies; that of departure from gold. He recalls. It will be noticed, for example, that the United States, for example, that following that step British the Shanghai, Hong Kong, Nether Following the suspension of the wholesale prices moved sharply up- lands-Indis, and Philippines se gold standard in Great Britain the wards; a few months later they tions have grown considerably pound had, as against the dollar, began to fall, at first very slowly Two other sections which are of (916 a steep and almost continuous fall, and then more rapidly, until July particular value to business people lasting until December, 1931. This last, from that point they rose the Alphabetical List of Cable ad- carried the pound to a level about fairly quickly, and then reacted drosacs and the Classified List of thirty per cent below the former somewhat. On the balance over the Trades, have received very careful parily of 4.88 dollars. From that entire period the offcial index num attention and contain nearly double point a strong and sustained rise ber is almost unchanged. This ap- the number of pages they had in the took place until April last, when plies to sterling, i.e., paper money, 1038 issue. But while enlarging the the pound was valued at between prices in Great Britain. The cost matter we have taken steps to make in the same te volume-ztsell: leeg bulkyrie the country at the end of the same use of 11 Bible paper" like that dów: Jeval: riod is slightly lower
found in Kelly a famous Directory
HONG KONG BENEVOLENT
SOCIETY
Committee ufy the abovo ould be most grateful
gresiter of living index
xamines
*****
kind is published in Madras. The ph Swaraiva, a Nationa
daily is teen
authorities:
daferro
to the
of its
rice Day Room
of London has resulted in making mod to the Directory of the Far East for
--size--and--nearly two
ter in weight than last Paper and
"paying
kind. 1800 wer