+
THE HONGKONG TELEGRAPH.
THE BLUE FUNNEL LINE
REGULAR AND FAST SERVICES
"' LYCAON “
LONDON SERVICE
(Direct)
"PROMETHEUS" 17th August London and Hamburg ** DANFA”.
17th August London, Amsterdam & Antwerp PROTESILAUS” 31st August London, Amsterdam & Hamburg 'ACHILLES" 9th Sept. Landon, Amsterdam & Antworp
London, Amsterdam & Hamburg 20th Sapt. LIVERPOOL SERVICE (Direct or via Continental Ports) "ALCINOUS“ 14th August **BELLEROPHON" 20th August "* RHESUS "
2nd Sept. 11th Sept.
"' CYCLOPS ***
** IXION**
Havre and Liverpoot Genos, Miles L'pool & Glasgow M'lea, Havre and Liverpool Ganda, Mles, L'pool & Glasgow PACIFIC SERVICE (via Kobe and Yokohama)
16th Augus
** TALTHYBIUS "TYNDAREUS"
NEW
30th August
6th October
YORK
Victoria, Seattle and Vancouver
"
SERVICE
(la Suex or Panama)
As per Joist Service Adtertisement on Page 9. For Freight and Further Information Apply to
•
BUTTERFIELD &SWIRE
AGENTS.
If you want a modern up-to-date Bathroom with fixtures from floor to ceiling call on us
UNION ENGINEERING CO., LTD.
York Building.
UNSTABLE SILVER.
CAUSES OF THE RISE AND REACTION.
The present year has already
excluded
Chater Road.
fron the countries 10 which we could allow gold to flow, began to concentrate on imports of silver in payment for its large trade balance in By February. 1916, exports.
TUESDAY, AUGUST 31820.
by about 31 million tasia. The W. S. BAILEY
belief was that China parted during these four years with much" mare silver than she could {really spare, and har purchasas last year were therefore in the natura
of replenishments. The
bulk of the vilver bonght for Chinese account in 1919 went from United States ports, and it is noteworthy that the shipments from San Francisco to Chins amounted to the huge. total of 64,000,000oz.
& CO., LTD.,
ENGINEERS & SHIP. BUILDERS, HOK UN KOWLOON.
HARBOUR REPAIRS Call Flag ***L" ..
Sole Agents for "KELVIN MOTORS." Motors from 12 B.H.P. t 50 B.H.P. now in stock also spare parsa.
Tel K.21.
a
K.329. K369.
K.23.
Works.. Manager... Secretary Harbour Engineer. Telegrams "SEYBOURNE.”
CONSIGNEES.
While, however, China addad the top storeys to the silver edifice, the foundations and the lower floors were undoubtedly the work of India, supplemented by Europe which absorbed abnormally large supplies for coinage purposes an inevitable consequence of the internationau inflation. As showing the part played by India, we may recall the fact that while in five pre- war years the nat import of silver into India formed altogether 26 per cent of the world's produc- tion, in 1915-16 they were 17 per cent, in 1916-17, 53 per cent. in 1917-18, 42 per cent.; and in NOTICE TO CONSIGNEES. 1915-19, 122 per cent. While the work supply of silver during the S.S, WEST MONTOP.” war was diminished by 19 per
From LOS ANGELES via cent. India's net imports increas- ed by 232 per cent. In 1916, 1917, HONOLULU, JAPAN PORTS
& SHANGHAL and 1918 the Indian mints coined
The above mentioned vessel 1,035 million rupees, an amount equal to the coinage of the 13 having arrived from the above preceding years. Purchases of mentioned Ports, Consignees of silver on Indian Government Cargo are hereby informed that Account were an important factor their cargo will be landed at their down to the middle of 1919, when risk into the Hazardous and/or they ceased, and have not been extra bazardous Godowns of the resumed. The present currency Hongkong & Kowloon Wharí & Company, Limited position, indeed, does not indicate Godown that a resumption of such buying is in sight.
CURRENT FOSITION AND OUTLOOK.
at Consignees' risk.
Consignees of Cargo are here- by notified that they must pro- duce an Import Permit signed by the Superintendent of the Imports Upon the causes that have led and Exports Hongkong before to the recoil in silver during the Bills of Lading can be counter- last four months it is not neces-signed.
All claims must be presented within a week of the steamers arrival bere, after which they cannot be recognized.
NAVIGATION CO. OPERATORS: U.S. SHIPPING
BOARD. Hongkong July 31st. 1929.
SHIPBUILDERS.
SHP REPARERS. BOILER MAKERS. FORGE MASTERS.
OXY-ACETYLENE AND ELECTRIC WELDERS.
MECHANICAL AND
ELECTRICAL
OF HONGKONG, LIMITED
TAIKOO DOCKYARD & ENGINEERING COMPANY
ENGINEERS.
-DRY DOCK-
LENGTH 787 FEET. LENGTH ON BLOCKS 750 FEET
DEPTH ON CENTRE OF
· SILL (KWOST) 34 FT. 8 ÌNS.
-THREE SLIPWAYS-
CAPABLE OF HANDLING SHIPS UP TO 3000 TONS DISPLACEMENT. ELECTRIC CRANE AT SEA WALL, CAPABLE OF LIFTING 100 TONS AT 70 FEET RADRIS
BUTTERFIELD & SWIRE, AGENTS.
HONGKONG, CHIRA E JAPAN.
Sufferers from Bad Legs, Abscesses, Ulcers, Pimples and Eruptions, Piles, Rheumatism, Gout, etc. should realise that these complaints are the symptoms of deep rooted blood impanties, and while outward applications may give temporary benent, they cas do no more because they cannot get below the surface of the skin.
Glandular Swellings, Ecrema, Boils,
The One Way to Real Relief,
complete and lasting, is to nd the blood of the poisonous waste matter, the true cause of such troubles. To do this you cannot better Clarke's Blood Mixture. This lamona medicae of over so years" standing promptly attacks. Overcomes and expels the impurine, that's why so many listing cures stand to its crecht." „Peasant to take and hornlesy to old and young alike.
Of all Chemists and Storst
Don't be led
to try a Substitute.
CONSIGNEES.
TO CONSIGNEES.
THE STEAMSHIP
RIOJUS MARU
From JAPAN.
Consignees of Cargo are hereby informed that all goods are being landed at their risk into the Godowns of the Hongkong and Kowloon Wharf and Godown Company, Ltd. at Kowloon, whe.ce and or from the wharves delivery may be obtained.
CONSIGNEES.
NOTICE TO CONSIGNEES.
The Steamship
"INNSBRUCK"
From TRIESTE, VENICE, ADEN, COLOMBO, PENANG
& SINGAPORE.
Clarke's Blood Mixture
Wood Purifier"
THE ADMIRAL LINE.
The Steamship
"PAWLET"
baving arrived from Portland,“ Oregon, via parts, on 1st August consignees are hereby notified that their cargo is being landed at thair risk into the Hazardous and or Extra-Hazardous Godowns of the Hongkong and Kowloon Consignees of Cargo are bereby Wharf and Godown Co., Ltd, informed that all Goods are being Kowloon and stored at con- landed at their risk into the Go- | signee's risk.
Consignees of cargo must pro- downs of the Hongkong and Kow- loon Wharf and Godown Com-dace an Import permit signed by pany. Ltd. at Kowloon, whence the Superintendent of Imports Bills of Lading will be counter- and/or from the wharves delivery and Exporte. Hongkong, before
signed.
sary to dwell. While the demands, All broken,chafed and damaged first, of India and. later, of Chins goods are to be left in the Go- seemed insatiable, it was obvious downs, where they will be ex- that they must have their limits.amined on August 9th. The rise in the exchanges that accompanied the rise in silver at last reached a point where it became a very effective brake oo
No claim will be admitted after NOTICE exports from the Orient; while, on the other hand, the outward the goods have left the Godowns movement of goods from the and all goods remaining onde- West to the East has in the last livered after August 9th will be few months been gathering 10-subject to rebi.
The slack. creased momentum.
No Fire Insurance whatever ening of the Eastern demand for will be effected. silver has coincided with a ma- Consignees are requested to terial increase in available applies send in their Bills of Lading for in Europe, the result of the exten-counter-signature immediately. sive, demonetizing process that
LOS ANGELES PACIFIC took place when the value of the silver contents of subsidiary coin. age exceeded their value as coins AS This is a factor to be reckoned within considering the immediate outlook, and it is one that has apparently not beep sufficiently for the Mint at $1 per ounce, or recognized in the United States, whether it allows the market to judging by the speculatiue pasi- continue following its natural
Optional Cargo will be forward- tion for the rise that is understood course, in which case it might be
be given before.
All broken, cbafed and damaged on American account.
Pittman Act by the substitution
cargo is to be left in the Godowns where it will be examined at 10 The fact that silver in New of a lower price to the manifest No claims will be admitted York bas in the last few days advantage of the American tax-
No claims will be admitted afters.m. on 6th inst. by the Co's fallen below $1 per ounce bas pager. According to private ad-after the Goods have left the Go- come as s surprise to many vices received on Saturday, silver downs, and all Goods remaining
and all Goods remaining unde-Douglas.
All claims must be presented will be Tubject to reat. people, for until quite lately it producers in the States expect to undelivered after the 28th inst. the Goods have left the Godowns, Surveyors, Messrs. Goddard and
of the
livered after the 6th inst. will be
within thirty days of the steamer's had been expected that the power obtain a modification
arrival hore, after which they All claims agains: the steamer | subject to rent. given to the Washington Mint by stringent conditions that have to the the Pittman Act to replenish its been imposed on sales
All claims against the steamar cannot be recognized. No claim reserve by purchasing at $1 per Mint under the Act. Apparently Dust be presented to the Under- Duace meant the "pegging of the no doubt exists that when this signed on or before the 14th prox. must be presented to the Under-will be recognized after the goods signed on or before the 15th last-have left the Godowns, and cargo undelivered on and after the 7th or they will not be recognized. market at that price. Senator modification has been made the or they will not be recognized.
All broken, chafed, and damag. Undoubtedly the principal Pittman indeed stated to an in-silver now being held up will be
All broken, chafed, and dam-inst will be sabject to rent.
No fire insurance whatever will
affected. force that determined the fierce terviewer last autumn that be did taken over by the Mint at the rise of last year was the aggres not believe the Government would enacted figure of $1 per ounce.ed Goods are to be left in the
demand from China It ever have an opportunity to buy Stability of market in the near Godowns, where they will be cx-aged Goods are to be left in the amined on the 6th inst. at 10a.m. sive
little surprise, baring silver at the figure fixed by the future is likely to depend on amined on the 4th proz. at 10 am. Godowns, where they will be sx- caused
No Fire Insurance has been
No Fire Insurance bas been regard. first, to the big balance Act to replace the $350,000,000 how far this confidence of the
effected. of trade that had been built up in that were melted. The role of American smelters is justified. In
ever a dangerous considering the outlook for silver effected. favour of the Far East, and, prophet was
The present position is that it is also necessary to take into secondly, of the fact that China (one. during the war years appeared to the Pittman Act has been left by account the growing production. bave allowed ber stocks of silver the market high and dry, and it The world's output, which in 1917 signed by to get very low. During the years remains to be seen whether the was 164,000,0000z, rose in 1918 to 1909-14 the imports of silver into United States Government, with 180,000,000oz, and preliminary Chins exceeded the exports by an eye on the political value of figures for 1919 point to a pro- about 122 million taels, whereas the mining interests, gives supdaction of shout 200,000,000, during the four following yearsport to the market by exercising the growth being due mainly to a the exports exceeded the imports its mandatory power to buy silver larger output from Mexico.
HTGE INDIAN AND CHINESE
AUSORPTION.
Optional Cargo will be forward- ed unless notice to the contrary be given before 2nd inst.
witnessed some history-making these increased demands took the to bave been built up in London possible later on to amend theed unless notice to the contrary may be obtained. movements in silver, and there is price above the 1913 level, and scope for more before the close.with the principal exception of SAYS the Times of June 14. On the period from August. 1918, to February 11 the price touched 891 d. per ounce, which has not May. 1919, when the market previous parallel. Even if search was "pegged" by the fixing on the part of the United States of a be made back as far as the Tudor
maximum price of 1011 cents period it is not possible to match
per nunce, the course of the metal this quotation. though is is
has been upwards until the early necessary to qualify the remark with the observation that a price part of the present year. of 85 pence which was recorded in those days was very sub- stantially higher than the present, measured by its porchasing value. For the origin of the great rise in silver that spent itself in February it is necessary to go back to 1915, For some little time prior to the war silver had been an unexciting market within a range of 24d. to 303., and no material change began to take place until the latter end of 1915. Then a squaeze for gold began on account of payments by the Allies to America, and more currency had to be put in circulation in the United Kingdom, France, and Russia; while India, having to be
FRECKLES AND HIS FRIENDS
Wait Till Next Year, Tagalong.
Bills of Lading will be counter-
DODWELL & CO., LTD.,
Agents,
Hongkong, 28th July, 1920.
Bills of Lading will be counter- signed by
DODWELL & CO., LTD.,
Agents,
Hongkong, 2nd August, 1920.
BY BLOSSER.
be
Consignces are requested to and in their Bills of Lading for countersignature immediately.
PACIFIC STEAMSHIP CO. United States Shipping Board Emergency Fleet Corporation
Managing Agents. THE ADMIRAL LINE.
5th Floor Hotel Mansions" Hongkong, 31st July, 1920,
SEEMS THAT YOURS A
COME, DA JUMBO-
LETS GO ANT MEST FRECKES COMS"
HOME FROM sevool.
LITTLE SUNER TO BE 00. "THE STREETS" ALDAREMON
BOM OLD ARE You?
FOUR YEARS
·OLD, GOIN'' ON THE.
WELL, NOVOS A
SVART LAD VRBAL BY YOUR
TUAVENT GOT KÉ BIGUDAYAY DOREZ "FORE IT OUT OF
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