7AM-BUK
FREE FROM ANIMAL FAT.
Alf Chemists medicine Xars-Buk, Fall Erections in alexed in every
ZZ, 1404
GROWS NEW SKIN
THE quickest way to heal cuts, bruises and
sores and cure fiery itch, rashes and all akin troubles is to apply Zam-Buk. This marvellous ointment soon makes the most troublesome skin healthy again.
Prepared from rare and costly herbal extracts Zam-Buk is so highly-refined that it soaks deep lato the flesh. It expels chronic skin diseaão at its roots. Zam-Buk soothes pain ilke magie, destroys poison gorms, draws out bad matter and grows new skin,
For eczema, psoriasis, ringworm, flesh-eating sores, ulcers, bad feet, piles, aches, pains, etc... Zam-Buk is absolutely unequalled.
Get a dos of Zen-Juk ta-day and key is always handy !
The Marvellous HERBAL
OINTMENT
Agruter-Mensa, many & Co., Ltd is, Dex Vaux Road, Hong Kong
THE NEW SPALDING
LAMINA
MULTI-PLY RACKET
6 PLY FRAME WITH A GUARANTEE AGAINST
BREAKING OR WARPING
Spat Cut
away to shew 6 laminations
of Beech and Ash
The new Spalding "Lamino " Multi-ply- will be the sensation of 1932. The frame is made of six layers of Ash and Beech woods, laminated like the leaves of a carriage spring. Tested under eli conditions and in tropical climates not a single frome has warped the fraction of an inch. The obsolutely rigid frome gives a terrific pace to the ball and ensures accurate placing. Write to the address below for book- let giving full detalls and prices."
$110.
THE MOST
POWERFUL RACKET MADE!
AGSPALDING&B (British) Export Dept
bong Rong
LONOYINJEC
Kong Weekly Press
Communism in China
Bernard Shaw in Hong Kong.
Local Companies
Resume of Sport:
Cricket, Football, Golf; Racing, Tennis Yachting.
and
Other Interesting Features
THE PAPER WITH THE YELLOW COVER
Price:-30 Cents.
Annual Subscription: Hong Kong, 818; Post Free to ́any address, $18; Quarterly Bubscription, 84.50.
Orders should be sent to the
HONG KONG DAILY PRESS, LTD.,
HONG KONG DAILY PRESS, THURSDAY FEBRUARY 23, 1933.
MONEY AND MARKETS
HONG KONG STOCK MARKET.
YESTERDAY'S OFFICIAL
REPORT
Sterling securities eased off some. what, owing to the Arinness of ax change.
Hong Kong Trams, 920.20... Star Ferries, 190.
1
Cements (Combined), '971.
Buyers,
Douglases, 8301
PENNSYLVANIA RAILROAD
ONE OF WORLD'S LEADING RAILWAYS
Business. Pennsylvania is one of the world's
DAILY SHARE QUOTATIONS
HONG KONG STOCK EXCHANGE.
Sellect Balen
SHAREBROKERS: ASSOCIATION.
Buyer Balleru
Gal Namband
! WEDNESDAY, FEBRUARY 22.
Payser
U.S. BRITISH WAR DEBT
| $1,770
2:13
£137 *£241
British Hopes For Settlement
SIR ROB. LINDSAY INTER- VIEWS ROOSEVELT
[BRITISH WIRELESS, SERVICE. )
RUGBY, Feb. 21.
Hotels, Lights and Cements main-leading railways and operates about tained the firmness noted in yester- 10,000 miles of road and more than It day's Summary, boing again in 28,009 miles of single track. demand this morning."
sarves most important cities in the Bales.
northern part of the United States through many subsidiary and con- trolled companies. While primarily an operating company, it is also a large security holder, and in ad- directly dition to owning and operating its own lines, owns, con-
REFERRING to the war debts trols and leases other corporations.
question during a speech at In April, 1998, Pennsylvania Rail- tho. Pilgrime Society Dinner in road directors organised the Penn London last night, Sir John Simon, rond Corp. As of March 2, 1932, the Foreign Secretary said that the Pennsylvanis Railroad company and British Government were fortunate Pennroad Corp owned 99.8 per cent to have been able to make a con- common and 0.24 per cent. preferred tact with President-elect Roosevelt stocks.. of New York, Now before he assumed office от Haven and Hartford and 19.26 March 4. per cent, of the Boston and Maine
H. K. Steamboats, 892. Hotele (Old), 378.
Chinese Estates, 803. Hong Kong Trams, 830.30. Star Ferries, 330.
China Lights (Old), 811. China Lights (New), 80.10. Electrics, $74. Cements (Combined), 871. Govt. Loans, 4%, Prem.
Gellers.
Hong Kong Banks, $1,770, Union Insarences, $365, Hong Kong Lands, 86. HK. Realties, $7.40. Ewo Cottons, Tis. 13.40. Constructions (Old), 88.
PLANS TO END WORLD CRISIS
Debts Settlement Essential
| RESTORATION OF THE GOLD STANDARD URGED Geneva-An important report on the world crisis was issued last month by the Preparatory Com. mittee for the World Economic Conference, which is unlikely to meat before May. It deals with the following main points :-
War debts
Gold Standard, Movement of merchandise. Liberty of exchange markets.
on cir Abolition of restrictions
culation of capital. Pointing out that the war debts problem is an insuperable barrior to economie and financial recon struction, it urges an early settle- ment,
to
Ambassador The British capital stock. The company also | Washington, Sir Ronald Lindsay, has heavy interest in dir-rail ger had returned after his visit to vice and motor bus transportation. London, in full possession of the views of the Government, and had just reported he had a useful inter-" Capital Stock: Outstandingview with President-Elect Roose- 8088,384,050.
velt, in New York, on Monday.
Capitallation,
Funded Debt : $806,505,885.
Financial Situation, Years ending December 31;- 11 Net Income, 810,543,104; Dividenda, $3.25.
1932: Net Income: $13,195,491; Earned per share, $1; Dividends,
50 cents.
Comment.
The conversations were at pre sent at a wholly preliminary stago and of an entirely general charac ter, but it was not too soon to say that they believed, that by the frank and intimate interchange of views between the British Govern ment and the United States over A good earnings record in a year the whole field of current economis of severe business depression, sound problems, the way would beat be financial position, and prospect that prepared for the efforts which the | a dividend may be declared this countries of the world must make year are some of the factors together to assist in promoting hind the recent buying of Pennsy world recovery.
made ivania KR. shares which
They who had experienced the that stock one of the active market full effect of the widespread de
well as pression bad the liveliest sympathy leaders in volume as
most with the difficulties of the Ameri strength. In a year when ronds failed to earn Axed charges can people, who were passing the Pennsylvania not only covered through a time of extreme trial. fixed charges but will show 81 a It was only by mutual under- share, equal to 2 per cent. on the standing and general co-operation per of 50. The Pennsylvania is that reliet could be found for the
world, O fortunate in that it has a restricken latively small amount of maturi chuded.
1933. ties to take care of during
Gross maturities for the entire
TAXES
Pennsylvania has no bank loans. It sacured a loan last year from the AUSTRALIA REDUCES Reconstruction Finance Corp. of $27,500,000 to carry on its electrifica tion and terminal-improvement pro gram, and effective Jan. 1, 1833, the rate of interest on this loan Las Eeen induced b. the finance esc-
While the report declares that the first task of the Conference should be to facilitate the re- establishment of & "free Goldporation to 55 per cent., from Standard," it contains nothing that commite Britain to a return to that system.
Economic Disarmament,”
AB
Other recommendations are follows:
Freedom to export capital.. A more even distribution of gold, Abandonment of all currency agreements and exchange re- strictions. Suppression of short-term debts. standstill agreements, And moratoriums on transfers, Geater freedom of international
trade by removal of the grow ing network of restrictions and reduction of excessive
the
cent,
TO HELP MAIN INDUSTRIES
Banks
H.K. Banks
Do. (London) Chartered Banks...!
Mercantile Bks. “A”
น
Bank of East Asia...
Do.
"0"
$108
#28
T485 China Fin, Corp. Urd
Do. Iamranone
E
N. 0.& 6. Banks
Am. 0. Fin, Corp: M]
TH
T.4.60
Prof.
$1,376 Canton Insurances...
$2.35
Underwriters
$1,380
$2.50
$583
Union Insurances 'iv.
1690
Ghina Fires
$566
$1350
H.K. Fires
International Asso
$895 $1,340
Shipping
$30) $22
Douglason
$30
Steamboats
***
$20
Indos (prof.)
$22
$20
46/8
Do. (def.) Shella
190
80).
$201
Waterboats
$21
---
$18 3.8572 80
95/.
T.I
T
*
IE
$11.50
18,6
373
111 : 4
Mining
317 Benguet
14.20 Venezuela Gold Fida 3275
22/0
Kailsas ......
14. || Langkata (single)....... 12.10 Explorations........ 12.30 Shanghai Loans ... Kaabe ************* Trench Mines
$11
as otr. Benguet Explorations
Dočks, Whar768,
8144
$4.40
Godówka, sto. H.K. & K. Wharves -Providents (old) ......
Do. (new)...
Fiz
***
144
$1,90
$1.80
320
H.K&W. Dooks...
$10
18
S. China Motor: &'
Do.
$8
16
T.96
11.03
·T.6)
T.120 Hongkows 10
R.K. Hotels (old)|$7}
$7.64
$7.20
$76
T.So
T.10
$7.40
[T11,40) China Do
Shanghai Docka
T6.201 New Engineerings
| Lands, Hotels, and Bulidings
Do.. (new)
HK, Landsskor
Shanghai Landa ...
Metropolitan Lands....! H.K. Healties..
T.994 Do. Debentures
$14.10 Humphreys
M$140 Asia Realtion "A".. M328
Do. "B",
Cotton Mille
Zoong Bings
Wing On Textiles(S.) Pabllo Utilities
Tramways
Poak Trams (old)...
Chinese Estato.......
$96
T13.40
T.13)
7.71
Shai Cottona..........
T:72
T.11
Till
Sir John con-
1:0
-$115
$20.30
$20 20
$20
$1.20
$18
$8
Do. (new)...
190
Star Ferries
$90
$34
Yaumati Forries (old)
Do.
(now
cam. right...
18.10
China Lights (old),... $10.90
Do
(new)... 38
Do..
#74
H.K. Electrica. .......374
$74
124.30 Macao do
Bis
Bandakan Lights
$28
*$271
T.10
21-
China Buses +3+ Tractions
19/
Do.
(pref.).
Endustrials
$27*
Malabon Bugars
T.14
Caldbeck, (ord.) T.10 Macgregors «J(pref,)
36
Canton Ice
$5
.
Cements (comb.)... 77
Dot
371/7.80
(old)...
Do,
• (new).....
$11.3)
$7
Ropes
Uh: Agricultures ... Miscellaneous
$29)
$12
$4.30
$1.80
Frust of the goid showing in 1032 notwithstanding the decline in remissions, amounting to £1,800,000, Canberra, Australia.-Taxation business activity, the thought is making £2,100,000 for the full developing in financial circles that financial year ending next June, Pennsylvania may pay a dividend in 1933. This would keep intact its inter, Mr. J. A. Lyons, in the wore announced by the Prime Min- record of having paid cash return House of Representativen to its stockholders in every year since 1847.
tariffs.
The report, which Docupies sixty радев, says: "Economic is armament is demanded An armis tice was signed at Lausanne. The London Conference must draw up the treaty of peace,"
NEW YORK STOCK EXCHANGE.
A.O.F.C. QUOTATIONS
[HEUTER'S AMERICAN SERVICE).
New York: February 21
Dow Jones Averages:
30 Industrials
20 Rails
20 Utilities
40 - Bonds
High-1932 Low: Feb. 20-Feb. 21 Change
88.78
41.2254.28 53,0027 down 13.23 25.98. 20.61 .38 down 16.53 23.03 22.75 .28 down 65.78 77.80 77.18 71 down
41.30
36.11
83.26
Messrs. Aris Lande Limited have received the following report from their New York correspondents, E. A. Pierci aud Oo, Haport. Tha market is virtually unchanged. We would not recommend buying at present. The immediate trading sentiment will be largely influenced by developments in Michigan banking situation. Business Done: 690,000 shares.
· 1983 — DI
Hon Low PASH
62
31A 3.00 Air Reduction
B71
43
6.00 Allied Chemical & Dyo...........
LAST SALE Feb. 10 Feb 21,
863
853 75
73k
4.00 American Cand
53)
621
71
9.00 American Tel. & Tel
99
5.00 American Tobacco "B"
Anaconda Copper Mining.
281
201
200 Borden Company
191.
71
-Canadian Pacific
8.
1.00 Chrysler Motors
10
101
311
4.00 Consolidated Gas of N.Y
471
467
23
4.00 Drugs, Inc.
341 34
2.00 Du Pont de NemouTE.... .......
35
3.00 Eastman Kodak
·52)
TELEPHONE: 80251.
11, Tow Boron Strat.
45
0% Eleotris Bond & Share ................
137
8
10A
2.00 General Foods
0.40 General Electricate
131 12x'd 12
221
401
-240
1.00 General Motors.
111 121
MORE TRADE WITH
ad for 60 per cent. of the whole.
24
· 107 1.00 Gillette Balety
141
143
10
322
S. AMERICA:
That we have actually sold more than in 1931 to some of these markets 'is duo", it is stated, "not
14
1.20 International Harvester ........
International Tel. & Tel.
ob
32
4.00 Liggett & Myers "1"
3.00: Loew's Ino.
16
Montgomery Ward
101
most entirely to our departure from the gold standard which gave us at least a temporary advantage bver our competitors.
40
LEFECT OF DROPPING GOLD to any improvement there, but al-
STANDARD
10
Radio Corpn.
report of
and - South Amerion.
But we, have not been able ful- ily to avail oumelves of this favour
sition - owing to economic
which; have made. bus
horo hazardous than
cases practical
2.60 National Biscuit.i.
2.00 Pacific Gas & Electris
Pennsylvania Railway
Seara Boebuck ..........................................
1.00 Standard Oil Co. of New
Jorgo
40.40 Bacony-Vacuum Corpn...
-15]. 1,20 Union Carbide & Carbon 288.00 Union Pacifo
United States Steel «Westinghouso, E. & M.
· 10
158
The cuts were designed particu- larly to afford relief to the prim- vry industries. The land tax is be- ing reduced by one-third; a reduc tion of £300,000 is being made in the 10 per cent, super tax on in- comes from property, and the sales tax and primage duties are being further cat.
The Government proposes to set aside £2,260,000 out of revenus to.. assist wheat growers. Of this amount £1,250,000 will be paid to the states for distribution among necessitous wheat farmers on the basis of last year's 'production. The remaining £1,000,000 will be used as a subsidy for fertilizers, and will be paid to the distributing, companies, which will provide su- perphosphates at £1 a tón cheaper than present prices.
Opposition to the subsidy on for. tilizera has already bean voiced by large sections of wheat growers, on the ground that such a plan will not assist them over the coming Harvest, and the Government is be ing asked to increase the financial grant...
In announcing the taxation cuts, Mr. Lyons said that, bad it not been necessary to assist the wheat industry, the Government would have gone further. When he de-. livered his budget speech in Sep- tember, he forecast a surplus of a few thousand pounds at the end of the year, but revenue, particularly that from customs, had been unex- pectedly large, and it was now ex- pected that the surplus would ex- ceed £3,500,000.
AMERICAN ORIENTAL FINANCE CORPORATION
through its Agent
Asia Lands Limited
Gloucester Building
* offers a
COMPLETE
BROKERAGE
SERVICE
in
NEW YORK STOCKS Exiland Odd Lots of Halad Securities bought and sold for cash, or carried on "conservative margin.
Phone 28380. Cobla : ASIALANDS.
***
330 Telephones (old) ............ $261 Do. (new)
$124
.
359.40 Dairy Farrus
Der A Wings..................... Ammemente
$13,40). Ch. Ftainments..........." $12Į
Constructions, (old)|
Do.
$21
Bincares... $15
31
(new)
$5.40
Lane Crawford......
Mackintoshe
Nanyang Tobacco.
$154
$19.
Watsons (old).........
$11.40
Do. (now).
18.25
Wm, Powellsstorres
$10
5.0. Enterprises ...
1.6
United Theatres versus dan
68
4)
FLB. Goyt LosDE... SIDE
prem
$9
Wallace Harper.....
18
China Sports Ltd ...
$225
ELK Wing Op
Shaf Do
M. Greyhounds
B. Iul. G. Bonde... 68,
LOCAL, AND.. REGULAR OUTWARD MAILS,
Canton
Baishui and Wushow (By)
direct stemmer)
100
$27
BRANCH
*. P.O
7.00 4
17,00 Pitti
9.00 0.0
(840)
1.30 pm Bundays
Lonly!
· B.30 160,
6.00 pm
WEEK DAYS.
SUNDAYS & HOLIDAYA
FOR
Fox
FROM .G.P,0.
'From": BENUNGWAN BRANUR 2.0:|:
-Juzon,
| Blumuwa
G.F.O.
5.7.15 m. & 8.00pm
(BY} 4.00p.m.
(1.00 1.7. 7.00pm
4.00 pu
57.15.
A
4.00 pm
18.15 am:
1:10 pm.
(7,15 km. &] ƒ 7,80 mm
Bundayı
1.80p.m
8.15 am only
Ionginoon (except Saturdays) 5.00 pa
Kankong (except Saturdays)
6.00 p.m 3,00p.m.
8.00.p
0,00 p
Fatahan and Wookow (By?
7,18 a.m.
7.15m
Train)
·TAL O
3.00p.m.
( 9,00 101.
Macno & Tuinshan
Dad Po
Chunchuu
Cheungohor
Aberdeen Stanley
Butan Pingshani
Bhatankok phui
11.00 m 0,00,
11,00th
8,00 pm
$1,00p.m. 16,00 pati
$100,
14.80 p.m.
-800 piz
$11,00 m.
1.00 am
£1,00
· 10,80 621,
10,80p.m
8.30,
Salking in
480 p