HONGKONG DAILY PRESS
Finance and Commerce
Britain's Gross Tonnage
Shows Decrease
COMPARISONS IN LLOYD'S®
ANNUAL REPORT
The total gross tonnage afloat at the end of June 1938 was 66.879, 000 tons as compared to 45, 403.877 tons la 1914 and 24,009,000 tons in 1901, according to the annual report of Lloyd's Registry of Shipping for the year ending June 1938.
Recent discussions in Parlament and elsewhere, states the report. have drawn attention to the present distribution of the merchant ficets of the world, and to the relative position and decline in the numerical superiority of the British Mercantile Marine.
WORLD OUTPUT OF GOLD
September Ahead
Of August
World production of gold in September was slightly ahead. of that for August in spite
decline of
In South the Africa, largest producer of Canada, the metal, and in
according to statistics prepar-
ed by the American Bureau
of Metal Statistics
From June 1914 to June 1938, the net increase in the world's steam and motor tonnage was 21,468,274 tons, equal to 47.3 per cent, of such tonnage in existence in 1914, and the net addition in the number of vessels was 4,965.
Since 1914. there has been a net decrease in the steam and motor tonnage belonging to Great Britain and Ireland of 1,216.635 tons, or 6.4 per cent. of the tonnage owned in 1014, whilst the number of ships has decreased by 1.744 during the same period.
In the British Dominions and Colonies, there has been "an in-
NEW TAXATION
IN COLONY
Committee To Study Methods
In pursuance of the intention stated in the address of His Excel- lency the Governor to the Legis- lative Council on October 13, His Excellency has now been pleased to appoint a committee of inquiry with the following personnel and terms of reference:-
Personnel-The Honourable Mr. S. Caine (Chairman), Sir V. M. Grayburn. Kt.. Mr. D. J. Slo65, C.B.E., M.A.. The Hon. Mr. J. J. Paterson, The Hon. Mr. M. K. Lo, Mr. J. Fleming. and Mr. C. B Burgess (Secretary).
Terms of Reference-To con- sider and report what methods of taxation could best be adopted in the Colony, shuuld it be necessary to raise additional revenue, having regard to the Colony's general economic position and the im- portance of distributing any addi- tional burden in the most equitable manner in relation to the in. cidence of existing taxation.
$
The first meeting will be held. crease of 1,412,080 tons (86.5 per on Thursday. December 29 at cent, and 882 vessels since 1914) sop.m. that the totals for the British Em-
Increase was due to again in pire at June 1938, compared with GOLD RUSH IN
14
output from mines in the United States together with sharp inarking up in estimates. of the Mexican production:
June 1914 show an increase of 195, 384 tons (less than 10 per cent.), but a decrease of 1,062 vessela,
N
LARGEST INCREASES ..
of the
Further comparison Total world output for Sep- tember. with the exception of Agures of other, countries for 1914 Russia, was placed at 2.774.000 and 1938 shows that the largest vunces. compared with
ounces
Jarid (1,380,302 tood).
FUKIEN
Foochow, Dec. 18. There is a gold rush in "the "district of Changting, in west.
gold is Fuklen, where
salt In the
creeks and rivulets.
to have been found 2,766,000 Increases took place in the United (8,909,557 tons), Japan in August and 2,520,000 States Gunces for September last year. 3.208.326 tons), Norway (2.655,822
In addition to the natives, at are The highest figure in output for tons), Italy. (1.828,517 tons), Hol- least 1,000 Kiangsu feople
border the year was registered in July.
Greece said to have crossed the (1,068,408 Cora); and France (958. to take part in the scramble for U.S. RECORD
497 Lons),
gold. Gold production in the States reached the highest level since the record of 518,000 ounces was established in August, 1937, Output for September was esti-
United
The only other decrease during The Fuklen Provincial Govern- this period, other than Great Bri-ment is now studying plans for tain and Ireland. was that in the large-scale exploitation.-Central case of Germany, where, although News. the number of vessels has increas
mated at 477.000 ounces compared ed by 231. the present total ton-ITALO-GERMAN with 467,000 cunces in August nage is still 903,003 tons below
and 407,000 for September aj
that for June 1914.
The present century has witness-
last year
Production in South Africa de-ed unprecedented development in
elined to 1,035,000 ounces. from 1. 046.000
in August. Current
the mercantile fleets of the world. figures, however, are fairly above the steam and motor tonnage have ing increased from 24,009,000 in those of the same month of 1937 1901 to 86,870.000 tons in 1938. In the case of Great Britain and Tre-
which stood at 984.000 ounces.
Mexican output was estimated land the figures have risen from at 90,000 ounces, compared with 12.053.000 tons to 17,675,000 tons. tr estimated 70,000 ounces ** August and 64,000 ounces in Sep- tember. of last year. Little
ducing areas
KIANGSU WHEAT
MEMORANDUM
ON SUEZ CANAL
are
Gogoa, Dec. 19.
ship- Itallan and German ping interests
drafting a memorandum to submit to their respective governments regarding the question of the Suez Canal, it is understood in business circles here.. The memorandum will give figures of Italian and German the canal and
CO-OPERATION SCHEME The International Scheme of Voluntary Co-operation, introduc- change was noted in other pro-ed in January 1938 which, it is trafic through
hoped will to some extent alleviate will set forth technical facts and the losses in shipping caused by criticise the high canal dues
Italian and German shipping the general reduction in trade, ex- change "difficulties and large crops interests recently considered the taking the Cape in consuming countries, alms at possibility of
freight route to the East, but it was de- The Kiangsu Provincial Gov. Continuing ernment has prohibited the ex-schemes which were in operation cided that this was only practi- port of wheat from the province. during the existence of the British cable for ships travelling to and lest the grain · find its way
to Shipping (Assistance Act. and has from Australla.-Reuter the Japanese, and is encouraging been
EXPORT
minimum
successful in "maintaining
the establishment of Chinese rates in the controlled markets at LIMA CONFERENCE
flour mills in the interior.
a suficiently high level to ensure
Permission has already been a small margin above the cost of granted to 23 flour mills, but so operation, according to the report.
far only 18 of these are operat
Ing.. Chinese flour mills 1
Shanghal, however, may import
14
AND INVESTORS IN
LATIN AMERICA
New York, Dec. 19. The Pan-American Conference
nas postponed for Ave years de-
wheat from northern Kiangsu ORE SHIPMENTS calon on the resolution urging
to
the Kiangsu Provincial Govern-
areas, provided applications
ment are accompanied by bonu
fide recommendation from the
Chinese Chamber- of Commerce
the adoption of
principal that foreign investors in Latin Ameri- en should not be entitled tö`di- except 121 cases where justice is denied 700,000 them by local courts, states the
BY NIELSON
Approximately Pesos
plomatic protection INTERESTS
and the Flour Mills Owners' As worth of lead and copper concen- Lima correspondent. of the "New
trates and copper ore would be York Times."
sociation.
FRENCH
shipped by Nielson-operated proj It is added that the Conference perties within the next 30 days, referred the question to the com- the head office of Nielson & Co..mittee of exports on codification Inc. in Manila announced
further last of international law for week."
study, ordering the committee to report at the ninth Conference
ve years hence.--Reuter,
CLASSIFICATION OF TRADES
REPRESENTATIVE
"AT BURGOS URGED
Paris, Dec, 19. The shipments will consist of The appointment of an official | 1.000 tons of lead concentrate con- French trade representative to taining approximately 1,400,000 Burgos is advocated in yesterday's pounds of lead and 16,000 ounces "Intransigeant." because France of silver; 5.000 tons of copper is in need of pyrites from National-concentrate containing 2,500,000 1st Spain for her rearmament pro- pounds of copper," 1,000 ounces
gramme.
Previous to the present difficult situation France, according to the paper, Imported one million tons of pyrites, of which two-thirds came from Nationalist Spain.--- Transocean.
The Ministry of Economics in of gold and 25,000 ounces of silver; Chungking has made classifica and 3,000 tons of copper ore con- tions of important commercial and taining 600,000 pounds of copper industrial undertakings. and 200 ounces of gold.
Grain, tea, drugs etc, numbering The lead concentrate will be 24 categories, are classified as im- shipped from Hongkong Mines toportant commercial undertakings: Europe. Five hundred tons were plant oil, raw silk, tea, cow-hide, loaded on the s.8. City of Newcastle sheepskin etc. numbering elghit on December 14 consigned to An- categories, are classified 4.3 12- twerp, and another 500 tons will be portant exporting undertakings: shipped on December 25.
and electric appliances, printing After the first of the coming machintes etc. numbering 23 cate The Canton branch of the Cen-year, Nielson interests will make gorles, are classified as important tral Bank of China, which, im- larger shipments of concentrate Industrial undertakings.
CENTRAL BANK'S OFFICE FOUND
I
8.5
mediately after the fall of Canton, and copper ore the milling was moved to Hongkong, has now capacity at Hongkong Mines is be found a permanent site in the ing increased from 125 to 175 tons Peninsula Hotel, Kowloon, where daily,
it will soon be officially opened
Daily capacity at Lepanto will
BOMBAY SILVER
Unofficial Quotations
Bombay, Dec. 19.
51-00
50-14 50-12
-Reuter.
The Kwangchouwan branch of also be increased within the next Ready ......
the Bank of China is also to be few months, while a road is being January 16 Settlement..... opened as soon as the business put into Hixbar Gold Mines so that February 14 Settlement.. license has been obtained from the monthly production will be between Market Quiet, French authorities.
3,000 and 4.000 tons of ore.
FINANCE
The Good Companions
TUESDAY, DECEMBER 20, 1938.-PAGE 11
PUBLIC AUCTION.||LAMMERTS' AUCTIONS
THE Undersigned, have received
instructions
TO SELL DY
PUBLIC AUCTION.
Dewar's
White Label
EST SCOTCH WRES OF GREAT ASE Dewar & Sons
DISTILLERS
PERTE
"White Label
well to the Fore!
SOLE AGENTS;
A. S. WATSON & CO., LIMITED.
WINTER CLOTHES
Women's, Men's & Children's
WANTED URGENTLY
HONGKONG BENEVOLENT SOCIETY
Monday & Thursday ICE HOUSE STREET
10 to 12 Noon,
The Willow
17 Howard Hording..
PUBLIC AUCTION"
ON
TUESDAY, the 20th DECEMBER.
"|
1938.
Commencing at 2.30 p.mï.
At their Sales Room.
No 3, Connaught Road, Central..
Ground Floer.
A Fine Assortment of Dressed
Dolls. Wooden and Mechanical Toys Furniture and Ping-pong Sets, Billiard Tables, Lead Soldiers,
Стаскета, Christmas Decorations,
Stockings, etc., etc.
On "VIEW from MONDAY.
the 19th DECEMBER, 1998.
Terms: Cash on Delivery.
LAMMERT BROS.
· AUCTIONKERS.
"People Who Matter”
PEOPLE WHO MATTER, to the
· advertisër are the people who ca afford to bay his goods. Most of these people buy and read the
Hong Kong Daily Press,
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THE
TO SELL BY
PUBLIC AUCTION......
ON
WEDNESDAY,
the 21st DECEMBER, 1938.
Commencing at 2.30 p.m.
At their Sales Room, No. 35.
Hankow Road, Kowloon.
A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE
Comprising:- Teakwood, Iron and Brass Bed- steads, Wardrobes, Dressing Tables,.. Chests of Drawers, Sideboarda, Dinner Waggons, Dining Tables, Chairs, Chesterfield Suites, Hat- stands, Carpets, Rugs, Cutlery, E. P., Brass, Glass and Porcelain Ware, Electric Lamps and Shades, Pictures. Clocks, Ornaments, Curios, Books, Gramophones, and Records, Ice Chests, Cooking Uten- sils and Stove, etc. etc.
also
A FEW PIECES OF BLACKWOOD FURNITURE
On VIEW from TUESDAY, the 20th DECEMBER, 1939.
TERMS:—Cash on Delivery.
LAMMERT BROS.."
AUCTIONEERS.
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Engraving is the hall mark
of
VISITING CARDS.
If you wish to create
good
a
impression use our cards
high Quality.
of
THE
THE Undersigned have received
instructions
to sell by
PUBLIC AUCTION
03
THURSDAY, the 22nd DECEMBER. 1538.
Commencing at 2.30 p.m.
At their Bales Room,
No. 2, Connaught Road, Central (Room No. 205, 2nd Floor), «
A QUANTITY OF SILK EMBROIDERIES,
LACKS AND LINEN ~
On VIEW from WEDNESDAY,
the 21st DECEMBER, 1938.
Mr. J. Cartwright.
28. Allerton Road
Bowie Park 2.
In these we Specialise
Samples available
at
Mr. Geoffrey A Matthews,
Mr. Eric B. Green.
South Shield's
· The EASTERN' ELECTRICAL COMPANY.
GERRARD 2174.
FRIC GRAY.
PHONE CENTRAL 1700.
CAMERA STUDIES.
Mr. Dennis & Spelding.
THE HONGKONG DAILY PRESS
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PERT STREET, W. 1.
FRIDAY, the 23rd DECEMBER,
1938,
Commencing at 2.30 p.m.
At their Sales Room, No. 35, Hankow Road, Kowloon,
LA QUANTITY OF TOYS AND
XMAS CRACKERS
TERMS: Cash on Delivery.
LAMMERT BROS.
AUCTIONEERS.