NOTICES.
THORNYCROFT AND KELVIN MARINE MOTORS.
THE HONGKONG TELEGRAPH. THURSDAY, MARCH 18. 1920.
DEMONSTRATIONS AND FULL PARTICULARS, ON APPLICATION TO
DODWELL & CO. LTD.
MACHINERY DEPARTMENT,
THE STANDARD LIFE ASSURANCE GO.
New Scheme for Children's Early Endowment :-
Principal features: Small Premium, Liberal Surrender Value, Ee Medical Examination, Return of Premium in the Event of Death, and Numerous Options at the Age of 25. WRITE FOR PAMPHLET AND FULL PARTIOULANK TO
DODWELL & CO. LTD. Agents.
THE HONGKONG ROPE MANUFACTURING
ESTABLISHED 1883.
· MANUFACTURERS OF
STO
PURE MANILA ROPE
3 STRAND
to 15"
EXCUMZALENOR
CABLE LAID
5" to 15" CIRCUMFEREKOR
4 STRAND 3" to 10" ÇINOUMFÄRENDE,
OU Drilling Cables of any size up to 3,000 feet in length, Prices, Samples and full particulars will be forwarded in appliostim
SHEWAN TOMES & Co. General Managers.
Developing & Printing Undertaken
A. TACK & Co.
26 Das Vœux Rod Central
KODAKS
&
FILMS
CREEN ISLAND GEMENT
COMPANY, LIMITED.
+
PORTLAND SEMANT,
+
In Cake of 375 Iba, met In Bags of $50 iba. not.
SHEWAN, TOMES & CO.
General Manag971. Hongkong, 16th August, 1914.
HONGKONG JAPANESE MASSAGE ASSOCIATION.
Mr. U. SUGA Mrs. A SUGA
B Queen's Road Central. Hongkong.
METALS
of all kinds, especially for ship- building and engineering works. Largest and best assorted stock. in the Colony.
SINGON & CO.,
(Established A. D. 1880) HING LUNG ST. Phang 515
MEE CHEUNG
PHOTOGRAPHER,
#
NEW FILMS & FINE ALBUMS JUST ARRIVED.
THE REW FRENCH REMETS,
THERAPION NŐ1 THERAPION NJZ THERAPION N°3
96.1 for Butler Cellaria, X6. ↑ for klité à
Diamant Bio. 2 for Chronic Waaknesses.
BOLD BYERATING
IN ENGLAN
LECKYKENDENTALK WAL
NE TRACK MÅKED WORD 'INFRARION OF – HOVE, PENES SVELLER TO GENGINE PACI
THE CHINA. PROVIDENT LOAN AND MORTGAGE CO. LTD.
(Capital Paid up...$1,250,000.)
Logar de Mariaga of Bocan Property. An Goods rapeitað en ftorage. Advances made on Werthan Loans made on the Frardens Bymaz
TRUSTER EXECUTOR OF WILLS. AUTORNEY, do Codersaken and Ezestien
Bars and Particulars on appli
To the Office el
SHEWAN, TOMES & 00.
General Managers,
NORTH BRITISH MERCANTILE INSURANCE CO.,
in which are vested the shares of THE OCEAN MARINE INSURANCE CO., LTD.
AND
THE RAILWAY PASSENGERS ASSURANCE CO.
The Undersigned AGENTS for the above Company are prepared
PROBLEM OF THE EXCHANGES..
FEAR OF COLLAPSE.
The continued fall in the ex. changes of the belligerent coun- tries of Europe is causing the deepest concern in financial ciri cles.
The position, as the Hon. R. H.; Brand pointed out in an Observer interview, adreits of only one remedy, and that is rigid economy on the part of the Governments concerned, and hard work and thrift on that of the peoples.
There is nothing at all su prising. "Mr. Brand said, "in the present position of the exchanges. Those who are concerned with international finance have long seen that it was inevitable.
"As a matter of fact, some such depreciation in currencies must have taken place probably as long ago as 1917, if it had not been for the entry of the United States into the war. The Eur- opean exchanges were only held up after the beginning of that year by the United States lending about two thousand million ster- ling to Europe.
EUROPE NOT PAYING ITS WAY.
"The real fact is that Europe is not paying its way either in- ternally от externally. The various Governments are spend- ing much more than they are raising by taxation, and in most European countries are, therefore. meeting the deficit by printing
paper money.
ation.
NOTICES.
Here is the
CORONA
THE PERSONAL WRITING MACHINE
$55 Complete with travelling case
Writes as well, as
COHONA
any large machine and weighs only 6 pounds.
„ALEX ROSS & CO.
25. Des Voeux Road Central Phone 27.
Currencies are just like every- thing else. Their value is deter- mined in the main by supply and have very few raw materials and demand. The more paper notes have been badly damaged in printed by any country the greater many other ways by the war,' the supply and the less the value particularly as regards transport. of that currency in terms of those of other countries. Further-more,
"Cafortunately, too, it is be if this same rountry is also im coming more and not less difficult porting for more than it is for the big continental countries exporting, the demand for foreign to secure the credit they require. currencies to pay for imports is A great deal of credit has been great, and that demand sends up granted them in the past year. their value in comparison with but they are finding difficulty in paying off these old credits, and it becomes therefore more difficult to lend fresh amounts.
the home currency.
THE BLONDE LADY OF ANTWERP.
SEVEN MEN IN SPY TRIAL
age, in which serious revelations An important affair of espion-
mysterious Dame Blonde, who is are expected concerning the said to have been the head of the German spy services of Antwerp. was begun recently before the] | Court-Martial of Grenoble.
All the accused are French soldiers, some of them deserters. and six others, who have not been Seven appeared in the dock; arrested, will be judged by default.
Take the French frane. The more franc notes the French Government prints the less is the "If one locks at the still enor- value of these notes compared mous adverse trade balance of for example, with the American France and Italy and considers dollar. And the greater the the difficulty of obtaining credit. demand in France for American it is by no means easy to foresee dollars to pay for American
They are all charged with com- how the difficulty will be met.municating with the enemy and imports into France the greater Moreover,, the present
violent
comrades while in captivity in betraying their country and their, the prisoners' camps of Giessen
DANGER OF A COLLAPSE.
is the value of the dollar in com-fluctuations in exchange them- parison with the franc, and the selves make trade much more greater the number of francs difficult. which a Frenchman has to give! to buy a dollar. These are the two reasons why a dollar which in normal times' is worth about fre francs is now worth about thirteen franes.
is
and Darmstadt.
Their services consisted first in spying amongst their comrades, finding out those of the prisoners who were carrying gold. those who were Alsatians, and, from newcomers, any possible of the United States Treasury military situation and movements notwithstanding the cogent views information regarding the that Europe should be given a of troops in various parts of the little time to establish her equil-front.
"
NOTICES.
PORTABLE BOILERS WITH RUSTLESS INTERIORS.
WHITE GLAZED FIRE CLAY WASH-TUBS
THE LATEST FOR LAUNDRY PURPOSES.
CALL AND INSPECT DUR NEW STOCK.
C. E. WARREN & CO., LTD.
Nos. 30 - 32, Des Voeux Road, Central. Established 1900.
STAR GARAGE.
Tel No. 3017.
49. Des Vœux Road Central HONGKONG.
New Cars on Hire & For Sale.
FRENCH LESSONS.
G. MOUSSION,
15, Morrison Hill Road.
E. HING & CO.
SHIPBUILDING MATERIALS, SHIFCHANDLERS AND
HARDWARE MERCHANTS.
'PHONE NO. 1116.
25, WING WOO ST.
CENTRAL.
LA FAVORITE
LATEST PARISIEN CREATIONS
EVENING DRESSES, AFTERNOON GOWNS, SMART COSTUMES & SPORTING APPAREL.
LA FAVORITE
Beaconsfield Arcade.
ค
FOOK LEE & CO.,
always in stock, large quantities of finplates, Wire nails, Pig Laal, Pig Iron, Steel Plates, Black Sheets, Galvanize) Wirs, Galol Sharts, Yellow Metal Sheathings & etc.
Te ephone
1174 & 1930.
Nos. 2 & 4 Hilliør Strzet, and a
York Building, Chater Rozi.
brium, and, since normal banking They were also to incite JARDINE, MATHESON & CO., LTD.
prisoners to write letters to their families wishing an early peace.
SPY WORK IN CAMPS. All these influences together Investigation by the French might, in my opinion, bring about military authorities showed that such a collapse of the European the Germans had instituted in) exchanges as to bring imports both camps an extraordinari- "The same influences are from America almost to aly well-organised intelligence affecting most of the Europeanstandstill. It difficult to service, in which they succeeded exchanges, certainly the exct-estimate what social and political in enrolling many prisoners. anges, of all the belligerents. troubles might then afflict Those French soldiers who Germany's position is worse than European countries.
consented to work for the German that of the others, because she has
I am as opposed as anyone authorities
given were
the received very little credit abroad, can be to Government control of ecsition of interpreters to thei and as she must absolutely make industry and trade, which I regard camp. certain imports and also pay as almost wholly pernicious, and, heary maturing obligations unfortunately, Government credit abroad, she has to buy foreign means some amount of Govern- currencies by selling her marks ment control. But. for the reasons for them at almost any price.
stated, it seems to me if we are NO HEROIC REMEDY POSSIBLE. to avoid still greater evils and the
"No heroic remedy is possible. In fact, the situation cannot be entirely remedied for a very long time certainly not for some years. "I notice that Sir Leo Caiozza Money apparently suggested in
credit will not be sufficient, that last week's Obserrer that the the Governments of the exporting exchanges should again he countries should provide some Several of the accused col- to ACCEPT RISKS againstpegged. i.e., artificially support- means of exporting certain laborated with German newspap
essential goods on ed at a high rate by the Govern-
credit ers published in French in the ments. Even if it were possible, to a certain extent and for the invaded districts. that would be a
time being. fatal remedy, would have to take the form, no The machinery because it would relieve the pressure on the individual and doubt, cf liorerament loans raised from the public in each of the extravagance. it is quite impossible. exporting countries. This help They cannot be pegged with- would be given on the principle out Europe borrowing a huge of curing the drunkard.little by sum from the United States. It little or to use another simile, would be suicidal of her to do so; giving continental Europe a leg and, in any case, the United up over the firet sile. More States would not lend the money.
then this Governments cannot One of them hamed Cal went and should not do. EUROPE LIKE A DRUNKARD.
to see her with a note written by "But such credit should be the officer in command of the "Europe is rather like
a absolutely refused to any country camp, in which he said that the drunkkard. She has got used to ob- which does not impose all the prisoner had rendered "eminent) taining her imports on credit. If necessary taxation, practise rigid service" to the German cause. you cut off drink all at once the economy and stop printing paper! Another named Dupuis was for: the effect may he fatal. On the money and balance its Budget. several months in the employ of other hand, to let her continue What is absolutely fatal now is a the "Dame Blonde," and returned drinking would in the end be constant issue of paper money, to France, where he was arrested. equally fatal.
which not only depreciates the He was found to have in his "In ordinary circumstances an currencies and exchanges, but pocket no fewer than 14 leave. adverse exchange situation rights entirely destroys the confidence papers which had heen given him itself. Many countries have had necessary for industrial welfare, by the "Fair Lady."
FIRE at Current Rates, SHEWAN, TOMES & CO. Agente.
MASSAGE HALL
23. FLOWER STREET.
MR. T. TAKAYE, MRS. MORITA. CERTIFICATED MASSEURS. PATIENT TREATED IN TUZ: Os Bom
* DESIRED,
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THE
LONDON DIRECTORY
with Provincial & Foreign Sections. enables tradors to combinalcale direct with MANUFACTURERS & DEALERB
ta Landon and in the Provincial Towns and Industrial Centres of the United KingdoA LUÔ the Continwk of Maurope. The ramek, addresses kod olber detail teu classified under more than 2,000 trade headings, including EXPORT MERCHANTS
with detailed particulars of the Goode shipped and the Colonial and Foreign Marketa supplied; STEAMSHIP LINES
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THE LONDON DIRECTORY, CO. LTD
25. Abchurch Lane, London, EC. 4. Engiant.
BUSINESS ZETARLIKHED 105 TEARS,
encourage sides
Be-
a heavily depreciated currency and at the same time places so
which has brought its own remedy much purchasing power in the
in the way of stimulating exports hands of the population that im-
an
"FAIR LADY" OF ANTWERP.
One of the men in the dock named Martin published in the
Gazette de Lorrains" article in which he stated that German prisoners in French camps were very badly treated.
Several of the accused came
in touch with the Fair Lady" of Antwerp.
and prohibiting imports. But the ports are encouraged, notwith-be a chance for Europe. But troubles we are suffering from are stending that toe country as a if we are all to go in for all on such a gigantic and extreme whole cannot afford them.
kinds of Government expand- scale and the whole situation is
Thus all countries get deeper iture nationalisation schemes,
so abnormal; that the exchanges and deeper in the mire, although and so forth, the future of Europe are not exercising their usual in-a certain fictitious prosperity is is, I consider, very dark. fluences so effectively..
apparent and profiteering in all Exports are not encouraged classes is rampant, and indeed
"In the end the only possible remedy for the exchange trouble to the extent they would be under inevitable.
is economy and sanity on the normal circumstances by a de- "When we have all reached part of the Governments and preciated exchange because the this point and no more currency hard work and saving on the part: countries wishing to make them is
being issued, there may of every individual.”
ENGINEERS & LAUNCH BUILDERS.
MARINE MOTORS OF ALL POWERS IN STOCK. Works:-Pootung, Shanghai.
:
Sole Agencies:-Sterling & Evinrude Motors. Makerr
"EWO" Motors.
Asscelated British Machine Tool
Makers Ltd.
A.B.C. Boller namel. Rexine Ltd., (Leather-cloth). Edgar Allen & Co., Ltd.,
(Tool Steels &c.}
"Sarco" Steam Traps, Temp rature
Regulators &c.
Linotype & Machinery Ltd. Pulsomater Engineering Co., Ltd T. & W. Smith,Ltd. (Wire Ropes) Imperial Light Ltd.
M. Y. SAN&Co., Ltd.
Manufacturers of "Bee Brand
Biscuits & Candies
HEAD OFFICE:Nos. 92-100 Queen's Road, Central, Hongkong, FACTORY:—Nos, 141-145 Wünchai Road, Hongkong.. BRANCHES, Monila, Singapore, Bhanghai & Canton, Chinx.