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Priced from $12.50 per suit Less 10% Discount for Cash.
MACKINTOSH'S LTD
MEN'S WEAR SPECIALISTS
Chinese National Engineering &
화
Manufacturing Co., Ltd.
Asin" Life Building, Hong Kong.
We have the honour in announcing that after ten years' ex- perience in manufacturing electric procelain in China we have entered the new field of manufacturing ceramic mosaic tiles for floor: Nature's gift of superior kaolin deposit in China, our long experience, and the up-to-date equipment and machinery in our works, all contribute to make our ceramic prodmets the best the world has ever producod. We guarantee our tiles 100% vitredus and absolutely non-absorbent. Again the Providence of chesp labour in China enables us to attaid to the lowest possible production cost. We guarantee that our prices are 80% to 50% lower than those of the imported tiled of same grade. "The Best Quality at the Lowest Price" is our motto.
We will always be glad to show yon our sample tiles, and to submit to you special design and quotation free without the. alightest obligation on your part.
"
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PALLADIUM
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HONG KONG DAILY PRESS, TUESDAY, MAY 9, 1933
S'HAI. PAPER IMPORTERS
ASSOCIATION
ANNUAL GENERAL MEETING OF
MEMBERS
CANADIAN PROGRESS DURING DIFFICULT YEAR
Shanghai.-The eighth annua) Keneral meeting of the Shanghai Paper importars' Association was held on April, 27 in the offices of Messrs. Beck & Swann 17, the Bud. Mr. R. E. Olaussen was in the chair.
The Chairman opened the pro ceedings by roviewing briefly the existing conditions during the past year, and said:
The economic depression con- tinued during the year all over the world not only with unabated, but with increasing force, and the Paper Industry "felt the pinch " perhaps more strongly than any other Industry.
A Memorable Year.
$1,000 FOR RENT SECURITY
.4
JUDGMENT RESERVED IN INTERESTING CASE Judgment was reserved by Mr. Justice Lindseli in a case in which a claim for the retura of $1,000 deposited as security for payment of remade by Hui Sai Hot of $1 Water Street against Chan Caf Wan and Wong Leung Shi, both of the Sea Long Firm of 28 Bon- ham Strand East
Mr. P. H Sin appeared for plaintiff, and Mr F. C, E. Rendall for defendants.-
- Undér a lease dated November 13, The Scandinavian Cap Convention 1928, defendants demised certain chuaed a sensation and much con-property to plaintiff for à term of fusion in the cap market by reducive Chinoso years and defondants ing their prices by £3 per ton, and thereby covenanted to return to many importers having brought plaintiff the sum of $1,000 deposited continental cap paper experienced with them as security for rent, and considerable difficulty in getting the pay interest on the deposit at dealers to sign their contracts,
the rate of $1,006 per Chinese month. During the term a person During the latter half of October named Fung Shuk Tuen lawfully more contracts were placed with claimed the premises through and Canadian, mille i nowsprint and under defendants and, as alignce, thinprinting; further, there was in 1831 refused to pay interest on fair demand for the better grades the deposit under the lease
of paper,
*
In Nov./Dec. "the market was rather quiet, and the demand from Outports continued to be very
The prices of Paper continued to The Boycott movement against drop throughout the year, and Japanese goods continued through reached such a low level that many out the your, but in spite of this Milla had to close down because of 1 movement, statistics show that the ruinous prices and under-com- | about one-fifth of the quantities of sumption of Paper,
paper imported into China came from Japan.
The prospects of any substantial rise in prices seem rather remote, but paper is a "key" article, and in view of its nature, used in many different lines of business, so that any improvement in the present dé pressed world condition will first be noticed in the Paper Trade.
Canadian Mills made a strong bid for the Chinese market during. the year under review, and fair quan tities of Canadian newsprint were sold to this market.
The paper prices quoted in stari ing dropped approximately 10/15 per cent. as compared with the prices ruling in 1931. It may be interesting to note that the prices op, for instance, newsprinting, in local currency are the same to-day as those in 1928. In 1928 the prices on news in sheets 48 grammes was about £16 108, and based upon ex- change of 2/8 works out at Tls. 193.00 per ton; the present price, is
Dealers' Results.
As far as concerns the economic results of last year, I understand that about 50 per cent of the dealers made a little profit during the year, 40 per cent, were able to make both ends meet, and 10 per cent. lost money. One of the bigger deniers had to close his doors.
As in previous years, we have been in constant touch with the Customs authorities, and quité
pinber of disputes regarding the classification of paper have been" settled!
The Customs authorities were verty
busy" issuing notification during the year and the most important of these was issued on June 11, to the effect that all cargo imported into China had to be accompanied by consular invoices, from August 1.
Tax On Nowsprint,
about £10 10s., and based upon ex-Phas farise change 1/6, the prica in local cur- rency c.i.f. is also Tls. 123.00 per
ton.
The Shanghai money market was easy during the year, with the ex- ception of the months of February and March, because of the Sino- Japanese hostilities. During these months, natives intereat rose to 70 chidareens per day, equalling ap- proximately 25 per cent. per annum
Shanghai Market,
p
Pas concerns classification of paper qualities, you will remem- ber that the classification as materially improved upon some yehra, ago, and also in this respect the Customs authorities co-operated with this Association. The classi- fication is still not quite satisfac- ory and could easily be improved upon The duty on certain grades of paper is very high; as you know, the duty treatment for news on reels is 7 per cent. ad valorem, whilst the duty for newspaper in sheets is G.U. 1,60 per picul, (abt.. 35 per cent.) Owing to the con- tingous drop in the paper prices, the duty on news in sheets seems most unfair, especially to the smaller printers who almost (ex- clusively use newsprinting in sheets. I understand that the Chinese paper guild has made a representa- tion to the Customs authorities, with a view to reducing the duty en nawaprinting. It certainly looks the limit has been exceeded, detri as though in tariff rates as a whole mental to the interests of China
herself,
decline in 1932, which is attributed The Custome returns show a great
to the loss of revenue from Man- churia, but I think that the decline in the revenue can also be attri- buted to the high tariff wall,
There was
fair demand for paper during January, but the out break of the Sino-Japanese hostili- ties brought all business to a com- plete standstill From the paper importers' point of view, the hosti- lities could scarcely have broken out at a more inconvenient time.
Big consignments of paper bought dur ing September/October, 1931, ar- rived during the months of January, February and March.. Large quan tities of paper were discharged ät Hong Kong, incurring adilitional charges Most banks demanded cover against war risk, but thanks to the co-operation of the members of this association, the greater part of the war risk premium and other expenses paid by the importers was
Turning to matters, mors closely recovered from the dealers, and I concerning the Association, the think that you will agree with me Chairman said that five surveys, that, this association has once more and arbitrations were undertaken proved to be beneficial to the trade during the year. The committee A number of dealers and printers had discussed the question of de- suffered quite heavily from the dea-manding margins from dealers on taction in Chapei, and, in view of Placing orders, with other trade or the troubles we have experienced, I be waived for the time being, lack- ganizations, but this matter had to think that everyone will agree that
ing the necessary support. ・・・ the caly desirable terms for selling paper are the c.if, odi. terms; to sell on other terms even to print cts and boxmakers should really not be necessary.
Towards the end of February and the beginning of March, there was a good demand fog 37 lb. news printing ox stock, owing to the ap- pearance of the many mosquito!! papers.
In the latter half of September and the first half of October there was a good demand for paper in the different qualities, and quite good orders for news and tap paper, as the better qualities, placed, the dealers did not
rdare för big quantities,
boycott
the Committee also successfully co- During the hostilities last year,
with a view to alleviating the situa operated with other Associations,
tion, market
Following the Chairman's open- ing speech, the resolution adopting the Report and Accounts for the previous year was proposed and passed unanimously
The election of the Committee then took place, resulting in the following selection:-Mears. RE Olbussen, president; H. W.. Breuer," vice-president; J. F. Acheson, hon secretary and trecaurer; J. Milch, F. N. Mollitz, A, Norrby, E. Schus ter.
ין:
A general discussion ensued on various matters relating to trade.
The Chairman thanked the secre
Acheson, for his excel- ices during the year, and padd with a vote of
Mr. Sin contended that the ques- tion for the decision of the Churt was whether or not the quiet en- joyment of the premises had been interupted. The covenant was personal one and the original con- tracting party was the one to whom the plaintiffs looked for payment,. namely the defendant.
a
In his reply Mr. Rendall asid that the case seemed to be affected by the conveyance law as it existed before the conveyancing act of 1881 as there was no conveyance of pro
There perty act in the Colony. was no evidence in the case to show that the mortgagees, would not be privy to the lease. If the covenant was a personal ons he would say there had been novation. It was obvious that no action lay against
the defendant at all.
concerned land or interest in land Mr. Sie replied that the contract
and that writing was essentia),. therefore in the absence of any writing it was not feasible for the Court to inter there was novation
Judgment was reserved.
HEALTH BULLETIN OF
· EASTERN PORTS
FOR WEEK ENDING APRIL 201
Bassein Bombay
Saigon
Plague.
Cases. Death.
3
3
...I'
2:
Singapore
Promi-Fent
Cholers,
Calcutta
.204
140
Karachi
1
Rangoon .. Saigon
0
1
..Smail-pox.
Alexandria Baghdad
I
...
Bassein.... 21
Bombay
95
55
148
133
.1
D
34
45
I
Calcutta Cochin Karachi Madrid Negapătam Rangoon Vizagapatam Canton Shanghai Osakt
1.
0
1
1·
1
Typhus.
Alexandria
BUY BRITISH
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STABILITY
The following is the eighty-first annual stalement ons of America's oldest and strongest insurance com- panies The Hanover Fire Insurance Company-repre seated in the Far East by the American Asiatic Underwriters.
1852____________THE
1933
HANOVER FIRE INSURANCE COMPANY
Eighty-first Annual Statement, January 1, 1988
ASSETS.
Bonds, Stocks and Mortgages 6.814,417,877
Accrued Interest,
Cash and Premiums Receiv
2,504,873
G.817,057,178
LIABILITIES
Unearned Premium Reserve...G. 4,416,183
xes, Expenses, Losses (
Process Contingency Reserve...
Capital
Not Surplus.
1,273,388 8,232,502
105 8,188,108
G.117,057,178
AMERICAN ASIATIC UNDERWRITERS
Anis Life Bldg., 12, Queen's Rd. Otl., Hong Kong.
TELEPHONE 80234-80285.