PAGE 8-HONGKONG DAILY PRÈSS
LAMMERTS' AUCTIONS
WAR BUDGET
Continned From Page 4
Sir John Simon thanked the French Government for agreeing to waive their treaty rights and
PUBLIC AUCTION. permit the increase to apply to
THE Undersigned have received
instructions
to sell by
PUBLIC AUCTION
on
Thursday, the 25th April, 1940-
Commencing at 1200 noom
French and other imported spirits. The increased duty on spirits, which was
to take ellect from tomorrow, would yield £7,000,000 for a full year and £6,500,000 for this year.
SEVERE INCREASE The tobacco duty would be in- creased from tomorrow by 43, per pound or 3d, "an ounce with cor- responding Increases in other duties such as on elgara.
This increase following the twe increases last year was severe but in the existing financial circum
at their Sales Roam, No. 2. Constances there was no escape from naught Road, Central, 2nd Floor. this addition,
for account of the concerned,
J
30 Cases (180 Baskets) Safety
Matches" Brand
Terms: Cash on Delivery..
LAMMERT BROS..
AUCTIONEERS
PUBLIC AUCTION.
THE Undersigned have received
Instructions
THE
to sell by
PUBLIC AUCTION
Friday, the 26th April, 1940
commencing at 2.30 p.m.
at their Sales Room," No. 35, Han-
kow Road, Kowloon
A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE
Comprising:—
Teakwood
«
The increased yield from the extra tobacco duty, he estimated at £23,000,000 for a full year and £21,000,000 for this year,
With regard to matches it' was
FINANCE
Beer Tax Is| WHOLESALE
WHOLESALE PRICES IN
Approved
BUT LEAVE POSTAL CHARGES ALONE!
|
THE COLONY
The Superintendent of Imports and Experts releases for publica- tion the following index numbers of wholesale prices in the Colony of Hongkong daring the complated years of 1938 and 1939, and the first quarters of 1939 and 1940.
The index has been constructed from declarations furnished to the Statistical Office by merchants in the Colony.
below:-
LONDON, Apr. 24 (Renter)-—Mr. C. R. Attlee, Leader of the Labour
The index number for the first quarter of 1940 shows a `general Opposition, speaking on the Bud Eet in the House of Commons, average increase of 299 per cent. as compared with the correspond- said that he approved of the taxes ing period of 1939. The foodstuffs group increased by 230 per cent. on beer, spirits, tobacco, and ❘ textiles group by 32.8 per cent., metals and minerals, group by 33.5 per matches but thought that the cent and the miscellaneous group by 30.4 per cent. Details are given Postal Tax will not bring in a great deal of thoney, and would irritate a vast number of people. He was glad Sir John Simon favoured voluntary against com- pulsory saving. and declared that nothing stood in the way of na- tional saving so much as a means teat.
CLEAR EXPOSITION
Sir Archibald Sinclair, Leader of the Liberal Opposition, pald a tribute to Sir John's clear
proposed TO double the excise exposition of the Budget problems
duties and make corresponding additions to customs auties.
A box of fifty matches · now costing a penny would cost ljd.
These proposals, which would take effect from April 29, would produce this year rather more than £3,500,000 and in a full year £4,000,000.
There would be countervailing increases in duties on mechanical
lighters.
and said that he could not com- plain that the proposals were too drastic. He declared Germany this year was spending £2.300,- 000,000 on the war and the French people was making a vastly great-
er effort than Sir John had asked of us today.
He concluded that the figures that the Chancellor had given the proof of the power and greatness House were clear and eloquent
of our resources, and the House's POSTAL RATES
determined and humorous recep- Regarding the post office charge tion of the proposals testified to the general scheme was to the high spirit and firm purpose crease certain Initial Dostal of a united Britain, resolved од charges but to leave all charges victory, for excess weight untouched.
The initial rates for Inland Post would be Increased 4.5 follows.
For letters to two ounces from 10 to 21d.
For postcards from 1d to 24. For printed papers by jd. per packet.
For newspapers by jd
There would be similar increases for letters and postcards in the Imperial Post "except that the present rates would be retained
for correspondence with the furces overseas
The rates for Foreign Post will Increase as follows:
Dining Room, Bed
For letters from 2 to 3d. Room, Drawing Room and Office
For postcards from 1d. to 2d, Furniture, Wardrobe and Cabin
Neither in the Imperial nor Electric Trunks, Perambulators, Lamps, Ceiling and Table Fans, Foreign Post were any increases Gramophones and Records. Curios, proposed for other classes of mail Ornaments, Brass, E. P., Aluminium, in view of the importance of those Cloisonne, Lacquer, Ivory, Porcelain services to the export trade. and Glass Ware, Pump Stoves, Wall and Table Clocks, Cooking Utensils, ctc., etc.
also
A FEW PIECES OF BLACKWOOD FURNITURE
and
1 Teakwood Modern Bed
Suite
1 Upright Piano
1 Plano Accordeon
1 Silver Statue (Horse)
Slicing Machine with Stand
2 Pairs Binoculars
Room
..
AÍR MAIL UNAFFECTED There would be no. Increased charges in air mail.
It was also proposed to make some changes in poundage charge on postal orders.
All these postal nanges would produce this year £10,400,000 and in a
full year would produce £11,400,000.
In inland telephone service there would be a general increase of 15 per cent. on all charges to subscribers with exchange facili- Hes and to users of telephones
with coin boxes,
This was to take effect from May 1 in the case of, trunk calls and all calls from public call offices and from July 1 in the case of rentals and miscellaneous charges
will be paid at the stage when the wholesaler is selling to the retailer. One great advantage in applyiny the tax at this point is that it makes it easy to secure that there shall be no purchase tax imposed in respect of the goods for export."
+1
INEVITABLE STEP Concluding, Sir John emphasis- ed that the total of £1,234,000,000 which he was seeking to get from revenue this year was the largest. figure ever drawn from taxation In 12 months in the history of British finance, and yet it WILL inevitable, when the total expen. diture mounted at the pace set by modern warfare. that taxes should entirely keep in step with 1
We were bound this year, accord- ing to his calculations, to con- template an expenditure of at least £850,000,000 more than the preceding year,
He was drawing £185,000,000
more from taxation.
"
SAVING MUST INCREASE What was the conclusion? The saving and lending savings to the State must be pro- portionately increased.
"It is an essential part of nur war pur, ose that this should be achieved Provided that the per- sistence of our people in support- ing the present loans and the re solution of uur people in paying the Government taxes is main- tained, we have nothing to fear. Our financial front will hold as firmly as any other front in the fight for victory." (Cheers)
STRENUOUS DRIVE For private telephone services "There is 您 On View from Thursday, the 25th there would be an increase of 25
strenuous drive under the President of the Board April, 1940.
per cent to take effect from July of Trade." continued Sir John.
"to increase our exportS.
"At the same time it is reces. sary to discourage unnecessary spending at home.
2 Sextants
4 Radio Sets
Terms: Cash on Delivery.
LAMMERT BROS.,
AUCTIONEERS.
1.
11
Inland telephone charges were estimated to produce this year just over £2,000,000 and in a full year £2.850,000.
THE TELEGRAPH SERVICES In the inland telegraph service there would be a fixed additional charge of 3d, on each ordinary priority or greetings telegram on
The purchase tax won't touch the raw material. In Industry.
"Another exception is that there will be no purchase tax on food including drink .or foodstuffs Whether for human or animal consumption
on each page of press telegrams
"There will also be no purchase There would also be an increase
tax in articles already subject, to- of 25 per cent for private tele-heavy duty as tobacco or petrol graph services July 1.
to operate from or in respect of services such as
fuel gas, electricity or water
"Subsequent legislation will pro vide for the date and Imposition of the tax and the rate at which it will be applied to be determined by a resolution made in the House of Commons."
CHICAGO CHINESE & each night telegraph letters and
WAR RELIEF FUND SHTUKWAN, April 24 (Central) The Overseas Chinese War Aid Association in Chicago has re mitted $100,000 to General Li These increases in inland tele. Han-yun, Chairman of the Kwang- graph services were estimated to tung Provincial Government, and yield 2100,000 this
year and concurrently Chairman of the £240,000 in a full year. Kwangtung Relief Commission, for
"No creases were proposed in the relief of war refugees in the charges for overseas telegraph and province,
telephone services which were necessarily limited in war time.
The Association has made an appeal to Chinese at home añía abroad to contribute more money) for refugee relief purposes
SUPPLY TRAIN BLOWN UP
All increases in post office charges, taken together, were estimated to yield £12,500,000 this year and E14,500,000 in a full year.
"A NOVEL PROPOSAL"
EXTRA YIELD
The yield of extra taxation in the current year, he said, would total 101,000,000.....
To that must be added £1,113,- 000.000 as revenue from taxation on last year's basis.
It was thus estimated that the Sir John Simon, then referred total contribution from revenue to "a novel proposal" to provide was £1,234,000,000. additional revenge.
If preliminary arrangements He proposed to call it a Pur-Were carried through, he hoped to chase Tax.
get something from the purchase tax before the end of the year.
The central question of the Budget, more important than taxes was how the remaining amount of £1,433,000,000 was to bé provided.
SOMEWHERE IN WEST' SUI- YUAN, April 24 (Central)-A Jar anese supply train going from "Sales taxes of different kinds Kweisut to Protow in the Pel-are in operation m a large num- ping-Bulyuan Railway a few days ber of countries and In most of ako was blown up after striking the Dominions. I think, but the a Chinese mine. near Baratal, 27. methods and machinery, ditter and-a-half miles east of Photos. considerably. Many Japanese guards were kill- ed and wounded, while the sun plies were a) (BARAZEN.
"The one I am about to propose is a purchase tax in a form of percentage on the price which
He was opposed to a suggestion put forward for compulsory de- duction from Incomes and be ad-
Foodstuffs "Textiles
Metals and Minerals Miscellaneous Articles
Beans Beef Eggs
Onions
Average
Peanut Oil Pork
Potatoes Poultry
Rice (Broken) Rice (White) Segar (Raw)
Cotton Yarn
THURSDAY, APRIL 25, 1940.-
COURVOISIER
THE BRANDY OF NAPOLEON Fournisseur breveté de SM:1'Empereuro
1st Qr. 2nd Qr.
1939 1939
1939
1940
131.6 134.G
128.8
158.2
116.1 108.2 147.3 145.0 143.4 191.4 127.3 125.9 120.9 157,7
98.7
131.1
130.6 128.0 122.9 159.6
·FOODSTUFFS
Flour (Wheat)
116.1
150.7 117.3
90.7
135,$ 119.1 121.5 154.8 178.2 238.0 235.2 287.0 103.3
174.7 121.5
90.8
Salt Fish
100,2
121.1 100.0
135.8
Fruits, Fresh ........ Lard
303.2
272.5 273.8
243.9
COGNACS ET FINES CHAMPAGNES
105.6
86.4
83.6
127.9
Milk (Condensed)
130.3
137.7
132,5
163.5
Mutton
187.5 172.7
157.6
145.5
134.3 100.2 117.8
159.9
111.6
123,3
105,0
183,5
DODWELL & CO., LTD.
124.4 155.6
145.0
167.5
134.7 124.0
139.3
127.3
118.1 145.8 135.0
157.0
125.8 113.9 120.9 109.0 102.4
111.5
157.6
Vegetables (Dried etc.) Vermicelli
137.8 88.0 108.2 86:5
148.3. 59.5 50.8 83.7 67.3 123.9 146.2 123.8 145.9
TEXTILES
119.5
101.2
102.8 125.0
Cotton (Dyed Plain)
05.3
82.6
75.4
89.9.
Italians (Dyed Figured, Plain)...
"90.8
84.1
59.4
80.2
Shirtings (White-40/43 yards).
59.2
54.2.
54.1
57.9
Hemp (Manila)
102.2
105.2
05.1 139.7
Gunny Baga
184.5 235.8
202.2 437.8
Hessian Cloth
53.8
81.4
49.5
87.9
Silk Piece Goods
72.7
85.9
63.8
68.5
Silk Yam (Artificial)
32.7
26.0
24.3
35.7
Blankets (Wool and Union)
149.3
124.3 118.5
145,5
Flannels
317.6
272.3
262.4
240.1
Suitings and Tweeds (Woollen)... 105.3 31.9
78.2
86.4
METALS AND MINERALS
Brass Sheets.........
Yellow Metal Sheathing Coal
Iron and Steel Bars
137.5 149.8 130,1 135.4 227.5 197.0
Iron and Steel Nails
Iron and Steel Plates Lead (Pig)
144.6
. Kerosene
Oll Fuel
152.9
151.9 130.3 130.7 175.6 132.4 125.0 211.8 187.2 247.0 162.2 158,4 168.2 241.2 283.8 234.4 239.1 300,0 150.0 139.4
202.8 49.6 .35.7 36.5 64.6 169.7 158.8 226,0
205.3
Lubricating of
95.3
95:5 105.6
96.4
Petrol Tin
32.7
37.7
34.7
70.7
236.0
249.0
255,8
257,3
MISCELLANEOUS
101.4 97.9
97,0
..117.6
38.8
42.1
40.0
48.7
142.4 138.1
127.9
159.2
117.8. 139.6
146.2
181.9
75.9
73.1
74.9
78.8
277.5 251.1 232.3
292.1
.229.9 253.4
147.9 135.7
74.5
80.9 140,9 133,6 117.5
242,8 337.3 134.5 142.6
85.1. 92.9
128.2
148.7
122.9 112.7
201.5
136,7
136.6 130.5
162.9
71,9
81,8
74.3
104.7
103.0
Cement Charcoal
Feather (Duck). Firewood. Hardwoods Hides (Cow) Hides (Buffalo) Leather. (Sole) Paper. (Chinese) Rattans
Saltpetre
.Softwoods
Soda Ash
Sulphuric Acid Sulphate of Ammonia
vised the House to rely on the result that could be obtained by stimulating to the utmost the response to their existing methods of borrowing.
125.2 117.8 182.9
75.3 78.3
69,5 133.3
Budget Well Received
That amount would and must LONDON, Apr, 24 (Beuter)—The be found and they must foster Budget on the whole was well re- and improve conditions in which ceived by members of all Parties, the, flow of voluntary contribu-says Renter's Lobby correspondent. tions to the Government might be The Labour Opposition was not stimulated and inflation avoided, disposed to be very critical of the
SECURING PRICES
proposals as a number of them Whatever measures would help follow the lines they had been to restrict the mistise of spend-advocating persistently,
As regards other parties, chief power and especially the misuse of increasing spending criticisms are likely to come on the power were of vital importance. new Purchase Tax but more in It had been their policy to regard to method rather than secure the price of essential food. principle. stuffs in rationed quantities even though this involved considerable cost to the Exchequer.
ing
Criticism is also expected on the
to proposal
restrict dividends which, it is feared, may penalise They were now spending £60,- companies which have been using 000,000 a year to cheaper prices pronts to promote business instead in certain essential foodstuffe of paying large dividends.
Control has been taken over of Increased postal charges were a variety of industries and the also criticised but on the whole control of foreign exchangt.
members realise very fully the need
"
Dealing with the excess profits for sacrifices and are confident the tax, Sir John said that the pro- country will respond to the Chan- rits lose a great deal of their cellor's appeal.
were
value if they freely as dividends,
distributed
DIVIDENDS LIMITED
company should" not distribute a "They willl be very useful if greater dividend on ordinary they are available to assist in- | shares than was distributed on dustries and to repair industry in any of its three pre-war years." the difficult period which ' will "The minimuin rate on divi- follow at the end of the war.dends would be allowed in the But they are of less value if used case of companies which in the for increased distribution into the recent past have not been able to hands of shareholders who might|pay dividends
..... !..
.
be tempted to devote a good deal In order to make the plan to them for the purpose of con-water-tight, he proposed, to pro- sumption.
hibit the issue of borius shares i T propose, accordingly, to pro- during the War, save in cases vide for the Imitation of divi- where entirely exceptional grounds dénds by public companies. The existed such as that of two co- legislation propose that a public panies' amalgamating.
THE HONGKONG & SHANGHAI HOTELS, LTD.
ANNOUNCE
A MILITARY
BAND CONCERT
AT THE
PENINSULA HOTEL
→ SUNDAY + 28TH APRIL, 1940
By The
BAND OF THE 18T
THE MIDDLESEX REGIMENT (D.0.0.)
By kind permission of Major H. W. M. Stewart, O.B.E, M.C. and Officers. Conductor: Mr. W. E. Kifford, A.R.C.M., Bandmaster
IN THE LOUNGE........9 P.M. TILL-11 P.M. Admission $1.00.
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THE BRITISH WAR ORGANISATION FUND
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IMPORTERS:
DODWELL & CO., LTD.
HONGKONG BANK BUILDING
Bygg Höngkong Distributora
KA FOONG HỒNG
111, HENNESSY ROAD.