PROTECT THE SMALL
INVESTOR
Return To Better Times
Rests. With Him
Special to the "Daily Prem)
Since the appearance of the first amicle in the "Daily Press " dealing with the
the decline in share prices, many oplakons have been expressed on the subject, and below, our special investiga» tor brings up another salient point, worthy of notice,
A careful perusal of the quotations on Hong Kong stocks shows that there are quite a few interest-bearing shares to he “picked up at a very reasonable price
Backbone Of The Market
Many of those who have lost, money in the local share, market
are
still hoping to recuperate themselves when better times come round. For the present, however,
they are not a bit anxious to have anything to do with shares.
The small investor, who has is
ittle capital tied up in local shares, is an important person. It is his interest which must be studied closely, for any damage to his capital would ultimately be reflect- ed in the whole share market. It - is vastly different with a "big" man in the market. With him ***buli" and "bear" movements are the primary considerations. and those who have been long in the brokering business will tell you that a flood of orders from small investors forms a surer guide of public.conadence in a stock; thán isolated orders from the big. Speculator.
Interest On The Wane With prevailing conditions in the Colony, it is dificult to interest Ray small potential buyers in local stocks, the more so, if they have lost heavily on their holdings in the past two or three years. The buying power of the small investor has been crippled by the unending drop in prices since 1931. The
percentage
sustained of losses varies, but it is learned that some of the small investors, have lost as much as 75 per cent, of the money they have put in focal shares dur- Ing Hong Kong's more prosperous days.
Confidence is thus thoroughly undermined. and until the small investor comes back into the market with his inquiry for shares. there is little prospect of quote tions registering a' rise..
"Good "Bays"
HONG KONG DAILY PRESS, TUESDAY, SEPTEMBER 11, 1934.
CORRESPONDENCE GAMING CHARGE SKIMMED MILK
[All lalters, intended for publi- cation must be accompanied by the name and aditress of the toxiter, naj for publicatian, unless so desired - but as evidence of good faith.-Ex.)
What Is A Broker?
(To the Editor of “The Hour Kong Daily Press")
Dear Sir-The articles with erence to Ice House Street" methods which have appeared in your journal during the past few
days, have induced me to refer to Chamber's Twentieth Century Dictionary for the correct deânition
of a Broker, and I quote this
authority as follows:-
Broker. One employed to buy and sell for others.
FAILS
Interpretation Of “Yung"
Prosecution Against
Shop Fails
Lb Sze Lau, of the Nain Hng Loong firm at No. 4 Pottinger Charged with keeping a com-Street was summoned before Mr. 'mon gaming house and
with Hamilton at Central Magistracy gambling, thirteen Chinese were for selling and exposing for sale yesterday afternoon discharging a tin of machine-skimmed by Mr. Wynne Jones owing to lack densed milk not bearing a label of evidence. Seven others who with the Chinese characters, as fled to appear had their ball of required by the ordinance
$5 each estreated.
Mr. C. S. Hugh-Jones of Messrs Wilkinson and Grist "appeared for the defendants while Inspector Carey prosecuted.
con-
Sanitary Inspector A, T. Braley said that he went to defendant's shop on the morning of August 17 and asked for a tin of "Butter- fly" skimmed milk. He was given Outlining the facts of the case a tin by the fakt for which he
that Inspector. Carey said
at paid 19 cents. "After having pald It would seem, according to your about 10.15 pm, on September 8. the money, he informed the as- correspondent. Mr. H. O. Odell, that accompanied by a party of Chin-sistant of the shop that he would the practice of the local Broker isese detectives, he raided the pre-recommend proceedings against Nathan Road, him for selling machme-skimmed to take the part of a Frincipalmises of No. 349
second floor. when it sults his convenience, and
milk in tins not properly labelled.
so become the competitor of the
Cross-examined by Mr. F. I D'Almada, anr, for the defence. Inspector Braley denied that the assistant had insisted that the label be put on.
In the front part of the floor were a number of man gathered round a table. On the Palice enter-
The label was
The moment there is a demand
shares, the for cash
market. is bound to firm up. By the word, "demand." is meant
very person from whom he is up a demand from numerous small investors, posed to earn his Nvelihood. I not a demand by a "short seller was always under the impressioning the room they scattered from who requires just enough shares that & person who was quslined to the table on which were two dice, mediately sets out to depress the benent of his principals,-this im- to meet his commitments and Im-art as agent always acted for the some pamphlets. mah jong chips produced and handed to him after and in a bowl $29.10 and two he had paid the money, He, how- chopped dollars. be incorrect pression seems "to
ever, refused to have the label however when the agent himself
stuck on. ilets as principal at will, presumably without the knowledge client.-Yours faithfully,
of his
PUZZLED.
market again.
Why Not Numbers? So far no reasons have been forthcoming against the suggested re-introduction of the Keswick Act which insists upon the inser- tion of numbers in all share con- tracts. The suggestion, does not cripple legitimate "bear" move-
I
Hong Kong, September 10.
The men were asked who was in charge and the first defendant stepped forward, and said that he was employed" as the boy to the Club.
Witness admitted that he re- fused the first receipt which had the following words "the label should be stuck on the tin." The Inspector Carey asked the first words were written on the receipt defendant for a rent receipt and by the assistant. He asked for was taken into & small room another receipt without those where the defendant produced a words,
ments. If & person had the DES VEUX ROAD receipt taken from a drawer in a
shares which he is selling, it would be no great difficulty for him to provide his broker with the num- bers of his holdings.
It has been whispered that the
TRAGEDY
On August 25, he paid another table.
visit to the shop, and asked the There was another drawer which assistant if he had received, the He, denied having told was locked. Defendant was ask-summons.
ed for the key but sald he did him to have $50 ready to pay the
Keswick Act would hamper bust- Mysterious Death of not have it. On being searched fine.
ness. These are abnormal times, and while "short selling" may be termed. "business," in the interest and welfare of the thousands of small investors who form the
Unknown Chinese
Des Voeux Road was on Sunday night the scene of another suspect- backbone of the share market, in-ed murder, the body of an un- discrimate short selling should be known Chinese having been found halted. Such a measure would bring no hardship on anyone, but lying in the road at about 9 p.m.. the good it will bring is inestim-
the head being badly crushed by able, for any rise in capital value the tall which must have reaulted of local shares would immediately in instantaneous death. be reflected in other directions in Hong Kong.
A Barometer Of Business
The share market forms, ar should. form, the barometer of local business. The prospects of a company; its prosperity or other wise, should be reflected in the share quotations. A steady dwindling in prices is not a true reflection of the state of most of our public companies, some of which maintain dividends paid in the past, while others whose stock have gone. cheaper and cheaper during the past three years, have so, zar a business, is concerned, not lost the ground that one-would be led to believe they have lost from the steady fall in the price of their stocks.
At present details of the tragedy are no known but it seems that the #ictim was either thrown from the third floor of No. 157 Des Voeux Road Central, the premises of the Wing Shing Yuen import and ex- port firm, or fell therefrom as a result of a struggle with another man.
a key was found which opened the drawer:
Accounts Revealed
$19, and
17h
!
The drawer contained one chopped dollar in addition to several account books, one of which contained a list of 15 shareholders Fun said that Inspector Braley
at $15 a share.
In reply to his Worship, wit- ness said that there was rio quea- tion of sticking the label on the tin before it was given to him.
The Defence
The assistant of the shop. La
drst asked him if he had any The Arst defendant was made milk for sale when he came into to read out the names in the the shop. He then asked for a book and as a result of which the tin of "Butterfly" milk. He went second and third defendants were and looked for it but could not detained: All three were then and it. One of the fok's then taken to the Police Station and came in and he told him to get charged with keeping a common tin. The foki found it and was gaming house and with gambling. handing it to him when Inspec- Lay Luk, Detective C-82 said tor Braley intercepted it. Wit- that on the night of September ness then handed a label to the 6, accompanied by another Chin- toki and asked him to put it on. ese detective and Inspector Carey but Inspector Braley would not As far as can be ascertained at he ralded the premises known as allow it. He shouted to the foki the moment the deceased went to
No. 349 Natham Road, second to stick it on but Inspector Bra- floor. visit the proprietor of the firm at
ley threatened to strike the foki about 8.20 p.m and the couple On entering the front sitting who withdrew a few paces. Wit- retired to a cubicle where they an-room witness saw about 20 peo-ness told. Inspector Braley that it peared to have spent some time ple wound a table. They scatter-was skimmed milk and 8 Isbel smoking opium. They are allegeded as soon as the Police entered must be stuck on it before it was to have quarrelled later and pre-
sold money, two dice and cisely what happened after that is some mah jong counting chips All this happened before the were picked up from the table. money was paid. He made up The Inspector then went into one the receipt but Inspector Braley of the rooms with the nrst de- refused to accept it because of fendant and later came out with the words “a label must be stuck" several account books. Witness He hesistated to write out an- made a translation of one of the other receipt, and Inspector Bra- pages in the book which contained ley threatened to phone for the the word "yung" which meant police, saying that he was ob. commission.
|structing him in the execution of
his duties.
unknown.
гр
The proprietor of the firm can- not be traced at the moment and the Police are seeking his where-
At present prices, a good num- ber of Hong Kong stocks are com paratively cheap and as there is plenty of idle money in the Co- lony there is no legitimate reason why Investors should abstain from putting it into the share market any more than in other -investments, many of which are It a boils down to the one abouts..
outside of the Colony. That there fundamental point, that prices is plenty of liquid cash in Hong
are being kept down by manipula- Kong is not difficult to prove- tors to suit their own purposes, the fact is generally conceded by and there is any means or every one who has studied the method whereby these manipula- position. Why some of this cash tors can be checked the public should not find its way. Into the and the small investor especially, share market in the shape - of is entitled to such measure of pro- CASH transactions, is the question i Lection. The sooner the question brokers in Hong Kong is faced the better for all, con- which should set out to solve!
H.K. POLICE RESERVE
(ORDERS BY THE HON. MR. E. D. C. WOLFE, CMG., LG. OF POLICE).
Aquatic Sports
cerned.
pany Headquarters on' Tuesday, September 11th at 17.30 hours for Instruction.
Indian Company Strength.--Constable R294 8. B. Armed has been dismissed from the Indian Company, as: from: 28th. August: 1934
MISS ZENA; DARE BEREAVED
Hon. Maurice Brett's Sudden Death
(Special Al-Mail Service
Some
In answer to Mr. Wynne-Jones witness said that the first defend- ant told him that he was a boy employed to look after the Club,
Lau Fook. Detective C-48 gave
After the foki had given corro- borative evidence, His Worship dis- missed the summons. In doing so, secution should supply much bet his Worship remarked that the pro-
ter evidence, and it was unheard, Mr. Wynne-Jones-Inspector off that a prosecuting officer Carey. do you know what game should not be accompanied in the defendants were playing.
such a case.
corroborative evidence.
Training Course-Part -All recruits of the Indian Company The attention of all Police Rereading at Kowloon will attend servists is reminded that the 13th. Chi Woo Street Kowloon on Wed- Annual Aquatie Sports of the Poéday, September 12th at 17.30 was acting in the play, "Murder | paint that it was illegal gambling?
lice and Frison Departments, will be held at the VRC. on Saturday. September 15th. at 14.30 hours.
London, Aug. 22. Lt.-Col the Hon. Maurice Brett, second son of the late Viscount Inspector Carey:-From the
Be further observed that the Esher, and, husband of Miss Zena instruments on the table I took labels did exist in the shop and Dare, the well-known' actress, died it to be "Ta Kai which is a it seemed to him the only profit day. While out shooting with a in tragic circumstances on Satur- form of very illegal gambling.
they could have was by - selling party of friends on his Scottish
Mr. Wynne-Jones: Why?
them to Chinese without the la-
estate at Roman Camp, Callender,
Inspector Carey: Because it is bels, and he failed to see the prob- Perthshire. Col. -Brett,
ability of their trying it on a heavy gambling. who was 52 years of age, collapsed. He
European. Mr. Hugh Jones: That does not was taken by car to his home make it illegal. where he died shortly afterwards, Mr. Wynne-Jones: What evid-
Miss Dare on Saturday evening ence have you to offer me on the
Mr. Hugh Jones:-That does not hours for thatruction.
in Mayfair!! at the King's Thea- pány résiding at Hong Kong, will husband's death was sent to the books to show that commission
All
recruts or the Indian Com-tre, Glasgow. The news of hering evidence from these account
Inspector Carey:-I am produc- concern the charge and in fact
lets. us out! attend Chinese Company Head theatre, but was withheld from was-paid out on the gambling.
Mr. Wynne-Jones: I am afraid quarters, 17, Queens Road Central her until after the performance..
that I will have to accept the
on Thursday, September 13th. at.
Mr. Wynne-Jones" asked the Court Interpreter's interpretation 17.30 hours, for instruction.
Col. Brett began his military Court Interpreter for his inter- of the meaning of the letter career in the Coldstream Guards. Chinese Company
From 1904 to 1912 he was A.D.C.pretation on the word "yung" "yung" and discharge the defend- Strength-Constable R16 Chan
Motor Patrol and Rot DrillA to Br John French (afterwards appeared in connection with gamb- Inspector Carey: What about
and was told that the word never ante Kwan Iu has been dismissed from motor patrol and clot drill will be Earl of Ypres). He served the Chinese Company, në from
carried out by members of the throughout the war in which he ng but was commonly used in the confiscated money which waS 3rd September 1934.
found on the table and in the Emergency Unit Reserve on Fri commanded the 6th Batt. Black Company Meeting-A Company day, September 14th. Members Watch, and was mentioned in Mr. Wynne-Jones: In fact, Inspec- Crawer? Meeting for members of the Chin-will- full in at No. 2 Police Station despatches four times.
for Carey, I happen to know, that Mr. Wynne-Jones-Maybe the ese Company will take place at the at 17.30 hours sharp Dress Cup He married Miss Zena Dare in theres no commission paid out defendants will feel inclined to Chinese Companý Headquarters with Khaki Cover, Khaki Tunic, 1911, and there is one son and in this game of "Ta BiL
donate it. towards the poor pox? on Monday, September 10th at Khaki shorts Futtes Belt with two daughters His daughter Inspector Caréy:-11 the word Mr. Hugh Jones:-The defe 17:30 hours. All members must Brace and revolvers to be carried Angela was married in April or does not means commission in ante will be very glad to don attend
this year to Mr. Kenneth Thorn-gambling but only in business, the sum of 31 which was found, ton, the wedding; at St. Margaret's then I can bring evidence to on the table and on floor but Westminster being attended by show that there was no business the $19 found in the drawer has many famous actors and actresses, of any kind being carried on to be accounted for.
All ranks of the Hong Kong Police Reserve are cordially invited to attend.
Training Course-Part II-All recruits of the Chinese Company
Emergency Unit, Reserve,
·CF.CHAMEKIN,
Acting DSP (R) w'll attend at the Chinese Com Hong Kong, Sept. 10, 1934.
business' transactiozias
To enable our workshop to remain busy during the "between season" we are offering a
SPECIAL DISCOUNT OF
20% OFF
1
ALL TAILORING
for the Autumn Season.
Grey Flannel Suits.
Blue Barge Suits.......
from 852.00, lett.
60,00
· Wornind & Tweed.
Suits
70.00
19
Pins-four Suits
Morning Coat Sulls
52.00
"
92.00
"
:
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Order your requirements for the Autumn now,
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GENTLEMEN's TAILORS & BERECHES MAKERS
10, ICE HOUSE STREET.
STOCKTAKING
SALE
at.
ANDERSON'S
FOR 2 WEEKS ONLY RECORDS. $1.00 EACH
FOR $5.00
20% Discount Off Regular Stock.
MUSIC
...20 CENTS" PER COPY 6 COPIES FOR 81,00 20% Discount Off Regular Stock
Ics. House Street.
BILLIARDS
Tel. 21822.
EQUIPMENT
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