10
* COMMERCIAL NEWS,
JAPANESE FOOTWEAR.
the The pre-war value of Siamese market for boots and shoes was about £30,000 a year. During the past four years the average annual imports have shown a considerable diminution, mainly by reasor of the lack of United Kingdom supplies. Japan ese footwear made a very big increase in sale. Local production is practically confied to Chinese
bootmakers
A SEW COIN.
With, the tael at eight shillings and the dollar. roughly, at six, the case for a standard unit, with a name as individual as dollar, but of only half the value be- comes stronger than ever, says the N.C.D. It cannot be the often insisted that the value of the common unit of currency in any country directly affects the cost of life. In England people think in shillings, here in dollars,
ITS
AMERICAN MONEY FOR EUROPE.
THE HONGKONG TELEGRAPH.
BENEFITS DISCUSSED.
BY P. W. WILSON,
With winter passing on, Europe wants to know whether her dire needs will be met by help from the United States credit is here available, and it
Abundant
SATURDAY. JANUARY 31, 1920.
£100,000 FORTUNE LOST
BY INVENTOR.
for lack of such imports. The THE PARAVANE ADVENTURE. factories, thus restarted, would find a ready local market at high prices for finished goods- for instance, cloth-and payments would be made to the European bank. in European currency. "The paravene looks like the These payments would cover the model of an antediluvian fish, six loan to the factory with interest. to twelve feet long with a plane All such repayments would be fitted across its snout, armed with held by the European bank, steel teeth and stiff tail fins. Half strictly earmarked, until the time fish, half bird, it gropes for the comes wher, after the lapse of submarine in the still deeps of the would be an advantage to Ameri-years, the exchange with the sea. clings to it and blows it and Or swimming cans themselves if the financing United States has swung back to itself to atoms. of the old world were to replace normal. When that time comes, steadily speed for speed with its existing speculations with surplus the local European eurrency can ship, it bites through the wires of funds. The Conference
at be
changed gradually into a minefield and the ship goes Atlantic City, of which, at first, dollars, and the American Cor-free." British authorities hardly realised poration can be repaid.
In these words Mr. L. Cops the full importance, has disclosed
Paravane Cornford, in "The the difficulties to be faced.
Adventure" sets out to give" a precise account of the invention. both to inform the public, and to affix the credit thereof where it is due,
American bankers are
con-
vinced that with a Presidential election pending, no assistance can be expected from the Treasury and Congress. We have to admit the fact that constitutional authority in the United States entertains for moneyed interests
Some British merchants are suspicious of this scheme because they foresee a great extension of American trade in European markets. Hence the unfriendly comments made in some quarters
about the visit of American bank- ers like Mr. Lamont to Germany and Austria. Such criticism is unintelligent and unfair. If Ar
in France in franes while the stispicion which, being mutual.ericans do not invest money in great mass of French people renders co-operation almost im- think as low as in sous, half-possible. This cuts out of any pennies, thereby being just twice Suggested scheme a direct loan as well off as the working classes by the United States Treasury. in England. Generally speaking Everything appears therefore, the same article in all three to demand on the bankers who, countries costs pretty well the in lending money to Europe. same number of units. We are would have to deal with two not accusing anybody in partic- risks, first political, and secondly ular of profiteering; but there
commercial. Against political can be no doubt that any number risks, like those in Russia which of things cost a dollar in Shang-have overwhelmed French in-
will invest money in the develop the reconstruction of Europe they
ment of South America, or China. We may rest assured that they will find some international use for their accumulated resources. Also, it may be taked for granted that the highest British autho rities, conscious that Americans they are to be accomplished at all must undertake these tasks if
are wholly in favour of their do
the least possible delay.
hai because there is no lower vestments, the only guaranteeing so in full measure and with cain of sufficiently individual would be by the United States character. What we want is a 50-cent pieca with a proper name to it. The new Mint to be estab- lished in Shanghai might turn its attention to this matter. would take time. of course, for the new unit to make its influence felt. But that it would do so eventually cannot be doubted.
TRADE OF ANTWERP RECOVERING.
Government. Apparently, there would be great difficulty in obtaining this guarantee. Con- gress would interpret it as under which the profits would go to writing financial enterprise of private concerns, Hence importance to European recon- struction of the Treaty, including as it does a League of Nations. Pending ratification, American credits are being undoubtedly withheld.
the
Commercial. as, distinct from
political risks, might be handled without resort to Washington. The law does not permit banks
Before the war Lieutenant C. Dennis Burney was engaged in t research work, chiefly on half- pay, it seems, and, as an admiral is said to have remarked. "Young
when officers are not paid to think." hostilities commenced Lieutenant Burney was put in command of H.M.S. Velox, in the Channel Patrol, and had neither time nor money for invention.
But the C.-in-C. Portsmouth gave him facilities, and Burney: involved his own fortunes in his pleted a species of submarine experiments. When he bad com-
paravane, for cutting mine an aeroplane, the basis of the modern
chors and detecting submarines Unless there be cue American he received two letters. The first Corporation to handle European informed the C.-in-C. Portsmouth credits, & scramble is inevitable. that he was to stop all experi Belgium has asked for 25 millionments. The second directed the London, France needs oil and which Burney was then attached. dollars, but was accommodated in captain of HMS. Vernon, to
food, while Italy-with a demand Atlantic City a for oil and cotton-proposed at loan of 600 millions. Estimates of total Ecropean requirements. vary from 2 to 10 billion dollars, and the future depends on a wise expenditure of these loans, as granted. There is no margin for corrupt extravagance still less for luxuries. The kind of
tion would be relieved if all debis
In many ways the entire situa
from one ally to another in this war were cancelled. This would
mean
million pounds at least that is a loss to Britain of 500 on balance-but the American loss would be greater, and it is therefore, that only, from the United States. such proposal
These to go on with them! troubles were got over. however, and the first paravane was fitted in May, 1915.
The financial side of the quest- on Was even more amazing. Lieut. Burney suggested that the paravane should be patented. either by H.M. Government or by himself, and on May 17 the Admiralty authorised him-his
take out patents in any part of the world. at his own expense and for bis own benefit! Sir George White was to help in this enterprise, the Admiralty then changed their minds about the royalties, Sir George White died suddenly, and the rights were transferred to Messrs. Vickers.
Antwerp. November, 15. Antwerp is recovering her trade, and merchants in China may look for a revival in demand for China's produce. Much has yet to be done, but conditions are improving. In spite of the many 10 lend the required Sums prodigality which bas embarrass-pay was about £250 a year to difficulties with which Belgium of money on long Creed Brazilian finance must by has, had to contend as a result of dits, and therefore a Recon- stopped-ruthlessly. the war, the tonnage of goods struction Corporation would he arriving in Antwerp is already needed. This would issue bonds half of what it was in times of to the public by means of "a peace. From this fact hopes may drive. like those which yielded be entertained for the rapid the Liberty Loan, The Corpora- revival of trade in the City. In tion, which should have a capital pre-war days the annual imports of one billion dollars, whould lead averaged 11,000,000 tons, and ex- this money to Europe. Secretary ports 9,000,000. These figures ex- Redfield. of the Department of plain the commercial fame of Commerce, estimates that Europe Antwerp, for, as can be seen, the owes the United States already difference between imports and sum of 15 billion dollars. Of this, exports was small. and ship. 10 billions is due to the Treasury owners sending shipe to the port here to which should be added fle, were sure of finding large quant-billions of accumulated interest. ities of retura freight.
This Private credits more than make although the situation is improv-up the difference. ing gradually, is not the case at For the United Kingdory, to present Germany. before the loan would be required. If the war, was Antwerp's best custom-American money market extends er, next in order being France. to us generously the usual com- Eugland, and the United States. mercial facilities. we can pull This order is now completely re-through, and the recent luan of versed and gives rise to the ques-250 million dollars- to which tion of how her previous trade Judge Gary, for the Steel Cor- with Germany is to be replaced.poration, subscribed 10 millions, Finance and Commerce.
SHANTUNG INDUSTRIAL
COMPANY:
atd
and underwrote another ten care as some surprise. But we have advanced such immense sume already to the Allies that our best authorities look with dis-
favour upon our undertaking larger commitments abroad at the present time. If Europe to is have credits they must come from the United States,
DOINGS OF
A large Japanese venture is reported in Tsingtao, where a number of leading Japanese firms have purchased a large tract of land with a view to establishing a Y.10,000,000 enterprise. It ap peare that severe competition was in progress recently for the pur- The plan which, seems most chase of several tracts of land feasible is as follows: that the ranging in area from 11,000 tsubo | above American Corporation, to 60,000 tsubo either in the city or when formed, send small Com- in the suburbs, which were all in missions to each devastated coun- charge of the Civil Administrat-try. All credits would be settled ion, among the Shantung Indus- through these Commissions, and trial Company (capital Y.5,000,- Cominissione would deal with 000), run by the Fujitagumi, the the European banks in their re- Tsingtao Land and Building Com-spective spheres. These Euro- pany run by the Moriya and Asono pean banks would be granted interests (both leading Japanese loans which would be used to business men), the Tsingtao Lard purchase raw materials. particule Industrial Company (capital Y.3,-arly for factories, now paralysed 000,000) run by Messrs. Moriya Gohei (another Moriya) Namba Reikichi, the Toro Colon- ization Company and the Shan- tung Commercial Company. The competition proved so severe that each came to realise the mutual disadvantages in future and decid- -ed-to-co-operate with one another. A meeting of the representatives of the companies concorned was
· held for further discussion of the matter on the 25th ultimo, when it was decided that with the par- chase of the whole lots of land, a concern called the Shantung In- dustrial Company should be established with a capital of Y.10,000,000 (as already mention- ed), the contribution to which capital all the participating firms must share in their respective proper portion. The land having already been purchased for 1750,000, the respective first instalments were paid in on the 6ch instant. A general meeting of the promoters and prospective Amhareholders was held latët at
To Ho Japan Chronicle.
could come. Ar Atlantic City it was not made, nor was the for- mation of an international debt seriously considered.
BREVITIES.
A world's record in intensity of rainfall was made at Portu Bello, Panama, when 2.48 inches of rain fell in five minutes.
The Marble Caves of Oregon consist of three miles and a half of marble passages and grottos, ranging from one to four or five stories in height.
Anciently, the wedding ring was first placed on the thumb, then on the first Snger, then on the second, and lastly, on the third, where it remained.
Captain T. G. Clay, of the Lon- don and Northwestern Railway Irish Steam Packet Service, who has just died, crossed the Irish sea no fewer than 20,000 times.
A part of the first font of mov- able type ever made, cast in the year 1403 in Seoul, Kora, is now in the American Museum of Natural History in New York.
A new textile fabric, which it is claimed will tend to lower the present high cost of men's cloth- ing, is being placed on the market by a Pudsley (Yorkshire) manu. facturer.
THE DUFFS
I WAS JUST OVER TO TRY ON
MY WEDDING GOWN AND
IT'S ALMOST FISHED!
OH IT'S JUST WONDERFUL
YOU MUST BE A VERY HAPPY GIRL".
TELL ME ABOUT
IT!
Į
Finally, in January: 1917, the Admiralty ordered 4,000, and it became possible to manufacture paravanes in large numbers. Lieut. Burney received nothing from the Admiraly. He received no share of any profits, direct or indirect, arising out of the Vickers contract. If he had received the usual 10 per cent.rovalty it would have amounted to £100.000!
By Nov. 11, 1918. 17.000 par- avanes had been manufactured, 3,000 ships fitted, and the secret had been kept.
The deductions, based upon the Admiralty records at the end of the book, state that this invention saved 765,411 tone of shipping. and that the value of the patavane service to the British Empire was approximately £100,000,000. This is a purely financial estimate, and takes no account of the hun- dreds of lives saved.In 1917 Lieut. Burney received the honour of of Companion of the Most Dis. tinguished Order of St. Michael and St. George, and was promoted to the rank of Acting Commander.
A CHURCH PROTEST.
Acting on the pastoral letter of Cardinal Amette, Archbishop of Paris, protesting against thed rese of women, the Vicar of Notre Dame d'Avenieres Pilgrimage Church, near Laval, has posted the following notice:"Eatry into this Church is forbidden to women wearing low necked dresses or those not reaching. dawn to the ankles."
casap the switch and go about your bollagen, Che FF BATTEXT BOOSTERK
Tipping Cif the Bride-To-Be.
I'M JUST HARING FOUR DRESSES: PLL: Show You The TGOODS FOR TT-IM MADE HOVE AND I CÂN
GOING TO MAKE IT GET A COUPLE MORE LATER
"ON"= LET "ME-SEX
YOUR NEW! DRESS, HELEN -
MYSELF
NOTICES.
Put an end to your Ignition and Starting troubles by Charging your own battery.
We can supply you with the equipment that will do the Trick. Most of your Car trouble is due to the Battery. Do not Send it to the Hospital. We can supply you with Dr. Battery Booster. who will keep it
up to
the highest efficiency.
Manufacturers representative
UNION ENGINEERING
CO., LTD.
Offices & Showroom. 13, Chater Road,
We expect shortly shipments of the following Cars and Motorcycles:-
ד
Sunbeam, Austin, Nash,
Elcar, Hupmobile, Ford.
A.J.S., Triumph, Royal Enfield,
Indian, Cleveland.
We shall be pleased to supply catalogues and quote prices,
ALEX. ROSS & CO.,
AND YOU'RE GOING TO MAKE IT ALL YOURSELF? 1 WONDER IF GEORGE WILL EXPECT ME TO MAKE MY DRESSES. AFTER WE ARE MARRIED?
Machinery Department.
25, Des Voeux Road Central. Telephone 27.
WELL, OF COURSE) I DON'T KNOW.
BUT
BY ALLMAN.
MEN USUALLY SEND YOU FLOWERS
·BEFORE YOU ARE HARRIED AND SEEDS AFTERWARD, AND LET YOU PLANT, THEM
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