WATSON'S
Dry Ginger Ale
A WELL ESTABLISHED FAVOURITE OF PROVED HIGH QUALITY
11
Prepared from our own special formula, flavoured with real fruit essences and the faest Eastern spices.
Vaequalled by any similar product throughout the world.
FORMAZONE
The non-alcoholic Champagne.
ΑΠ excellent
substitute for sparkling wine, possessing the same wonderfully stimulating and refreshing qualities.
A. S. WATSON & CO., LTD.
AERATED WATER MANUFACTURERS,
Established 1841.
STEINWAY
The World's Finest Piano
Stocks Carried
S. Moutrie & Co., Ltd.
Sole Agents. Chater Road,
DON'T FORGET
THE
LAST THREE
DAYS
LADIES' and KIDDIES'
SHOE SALE
LANE, CRAWFORD, LTD.
THE HONGKONG TELEGRAPH. THURSDAY, JULY 25, 1929.
NOW IS THE TIME TO GET YOUR
FRIGIDAIRE
DOMESTIC
THERE ARE MODELS OF FROM FOUR TO EIGHTEEN CUBIC FEET STORAG CAPACITY.
OVER
1,000,000
IN USE THROUGHOUT THE WORLD.
DODWELL & Co., Ltd.
Sole Distributors HONG KONG & S, OHIN A
BIRTH.
MEYER-On July 25th at the French Hospital, to Dorothy, wife of 6, Meyer, a daughter.
DEATH.
WONG-Wang Tio Tseung of Field Cottage, Kowloon City. Funeral will take place at Yat Pit Ting. Kennedy Town at 3.30 p.m. Saturday the 27th instant.
The
Hongkong Telegraph.
THURSDAY.
JY 25, 1929.
THE INDUSTRIAL OUTLOOK..
ing of the products of the mines, and that in this connexion efforta are to be made to bring all owners in line with organisations in- augurated with the approval of colliery-owners producing the majority of the output in the various districts. This is a very wise procedure, and one which should prevent a lot of needless overlapping. But the beat feature of this policy is that it betokens the intention of the Government to encourage and assist owners in dealing with the problems of the industry, rather than any desire to take control out of their hands. This removes the nationalisation scaro, of which we have heard so
CORRESPONDENCE.
Hongkong Currency.
[To The Editor of Hongkong Telegraph.]
DAY BY DAY.
NO PROCESS IS SO FATAL AB THAT WHICH CAST ALL MEN IN ONE MOULD--Channing,
"Fair Play."--This is a personal matter which cannot be aired in our colunms,
Sir,Observer" and "Z" appear, to have agreed to differ and dropped"
The forthcoming wedding is'au- the currency problem just where it was when they picked it up. Inounced of Mr. Carl Owery, of the haven't much time for writing U.S.S. Mindanao, to Miss. E. A. letters or reading text books, but Manza, No. 1, Banco Building, think I can put more common sense Kowloon, and constructive work into a few inches of your obliging space than they have managed with their yards
of it.
SWALLOWING THE ANCHOR,
WELL-KNOWN LOCAL SKIPPER RETIRES.
With the departure from Hong- kong on Saturday, of Captain V. A, Harris, Hongkong loses one of its best known skippers. During the last seven years he has been con- nocted with the Steamboat Com- pany and during his three years on the Hongkong-Macao run
has The eas in which a Chinese was made a host of friends.
Although a comparatively young charged with the possession of nine taels of contraband opiuin was Coil-
man, Captain Harris has complet- It is generally acknowledged that Linued at the Central Magistraeyed twenty-eight years at sea. He owing to heavy invisible exports, this morning, before Major C. Will commenced his career by serving the foreign demand for our cur-son, who imposed a fine of $1,000,
an apprenticeship in the well. rency is bound to exceed our need with the alternative of six months for other currencies.. This means hard Inbour. In the course of this known sailing' ship "Sardomene" a high exchange rate with its pre-morning's proceedings, it was dis of Henry Fernie and Son, Liver- Speaking generally, there doosium over the silver dollar. Ex-closed that the defendant was not pool and while in this vessel he ports fall off, work is driven from an ex-detective, as was frat sup experienced the 1905 San Fran- not appear much ground for the Colony, etc, etc. (we are all in posed, but was an ex-police searcher. clsco earthquake.
agreement here with the exception apprehension regarding possible of poor old "X" who doesn't know labour troubles in the near future, what he is talking about.) although there has for some time been talk of the engineering trade unions demanding an advance of wages. This question, however,
much of late.
then paper money will be hoarded.
It must however be obvious that this refers to paper money at a discount. It is really an extension of Gresham's Law. The pundits possibly have contemplated paper money being at a premium. What
At the outbreak of the Great Wir ho was serving with the Straits Steamship Company, and immediately volunteered for the examination service. After eigh- teen months, finding this work dull, ho obtained employment under the French Admiralty and the submarine area where he re- mained until after the Armistice.
seems likely to be held over unin prostable, so it is unlikely that it who evolved thin theory could not proceeded to Europe for work In
later in the year. Except in the case of the coal and cotton In- dustries, it looks as if industrial
it means is that when a debt of
Returning to Penang in 1919 he became Marine Superintendent of
Now the money taken from our banke, by the people of the Colony, in respect of invisible exports is either hoarded at they homes or put back to the banks. Hoarding is not is carried on to any extent and as money, is cheap in the Colony, everything points to our spare cush returning to the bankers.
What are they doing with it? afty cents in silver can be dis- Why do they not get into foreign then, if speculators, for reasons of little time. For the moment, the currencies or securities with it their own, are willing to buy the trade union leaders are manifestlyThe only hope for our future com- paper in the market for sixty cents It automatically disappears from mercial prosperity, lies in getting circulation as currency, but who the embarrass
those remittances (which are the source of the trouble) back out of will hoard dollar notes at a prem-
a dollar for them? the Colony, oven if it necessitatesium when at best he can get but prevent possible hoarding-Yours, of deinand for Shanghai notes, that "Observer" explains the absence etc.,
are equally well secured, by stating that foreign banknotes are un- popular in North Chinn, but we are hot dealing with North Cantonese
well are notes in Shanghai are just as good that the British Bank of Wanchai as the British Bank of Wanchai noing in Hongkong.
issues will lie dormant for some Trying to lasue free locul lonna? charged only by a dollar in paper The Eastern Shipping Company
anxious not to
Labour Government by foreing industrial issues to a head, but a point that suggests itself is how long this attitude is likely to retain the assent pf the rank and file.
J
1.
Additional interest inducement to
POUND OF FLESH. Hongkong, July 24th, 1929.
interesting,
Sir, The considered views of "Observer" are entitled to respect and his outlook on this important subject is wide and but i feel I must comment on what appens to me to be some fallacies in logic or some inverted reasoning in his letter of yesterday,
He holds that easy and low in- terest in no way prove thint hoard- ing is not excessive.
He goes further and tells us that these conditions favour the opposite inference because, if they did not exist, the hoarders, if to board might they continued
have eventually to my 25 per cent. premium on the dollar.
Chinn.
aware
That foreign banknotes do not circulate in Shanghai to the same extent as Chinese nates has, I think, nothing to do with popularity, The reason is that in Shanghai the banks are under no, legal obligation to keep any security against note is. Hues Foreign banks therefore, and certain prudent Chinese banks also, restrict their note issues and keep dollar for dollar in silver against them.
but finding the call of the sen too strong he proceeded to Hongkong and joined the Hongkong, Canton, Macao Steamboat Company and now retires from that company's vessel "Sui An."
from the Directors and Secretary Captain Harris hng been the re- cipient of many letters of regret of this company on severing his connexion, and will take with him to the Old Country the best wishca of a host of Hongkong and Macno residents.
DEATH OF CHINESE RESIDENT.
FATHER OF MR. WONG KHONG TIN.
•
The death occurred on the 18thr instant, at Field Cottage, Kowloon City, after an illness lasting a few days, of Mr. Wang Tin-tacung, a
Chinesa
resident, at the age of 89 years. well-known Hongkong
Long Distance' Telephony, "The greatest importanen, at- taches to the proposal, recently announced, for laying a telephone rable across the Atlantic, though the seleme seems to have attract e little attention outside, eom- menications circles. The real slenificance of the project lies in the fact that up to a few months a deep ses telephone cable was not regarded, as feasible. The difficulty had to do with water
As for the reason for the high pressure. Present deep sen cables
Tael/Dollar rate my theory in ore exclusively constructed with
It is only, he says in effect, her neither navel nor nebulous. "Ob- In the year 1855, the late Mr. One of the essentials in any uita-percha Insulation, but this cause money in easy and interest server" tells us the rate takes into Wong began his education at St. effort to reduce unemployment atatem la not suited for lang dis- low that the paper value of the consideration the silver value of the Paul'a College. He was proprietor tance telephony as the gutta-one-and-ninepenny silver dollar is dollar plus the premiúm. 1 merely of the Wai Hang jewellery firm in Home is the maintenance of in-percha muffles the quickly chang two shillings instead of two-and-stated that its belay abnormally Queen's Road Central and the Tai
threepence.
I high was a consequence of the pre- Sung Hong general merchants firm ́dustrial pence. Any new phase of | ing talking current too greatly to 1. confess I cannot follow this mium and not a enuse. What is at Bonham Strand West. He wna
serious labour disputes would be overcome. For land telephone argument. If I pursued that par- the difference
the two botween
at one time compradore of Messrs. obviously shatter hopes for the cables, dried paper insulation is ticular line of reasoning I should statements? Take away the pre- Reuter Brockelman but retired come to an apposite conclusion, mium and the Tacl. cross- from that position a few months xulation of this long-standing used, but it is qbvious that such
but. the reasoning Itself is rate automatically becomes before the Great War. the cables are useless in water unless fallacious. It confuses the ex-oran Remove the cause problem. Until yesterday.
they are rendered ́ absolutely change value of the dollar, which | and #way goes the effect. only cloud on the industrial
water-tight. Lond coverings have horizon which gave any case for brea tried, but the enormous water misgiving was the deadlock between pressure on the hed of the ocean the owners and operatives in the has crushed them until they are cotton industry. The two rent almost dat. Long research bas a solution of the pro- cotton employers' organisations arodured recently decided to demand a sub]blem. Paper-insulated cables are to be used for the new Atlantic stantial reduction In wages,
service and they will be enclosed equivalent to rather more than inn flexible water-tight hallow 12% per ect. This was naturally tube of light metal, which, in resented by the workers and turn, will be protected by a lead the situation reached a covering against disintegration by point at which negotiations could sea water. Comprehensive trials not proceed, mainly because the have shown that these hollow owners would not withdraw
consequences will follow,
|
statement?
The late Mr. Wong was one of the promoters of the Free Night - in one-and-ninegence in silver and What better proof is nested of my School opened in 1911 for the two cahillinga in paper, with the which is one dollar in silver. local value of the paper dollar Finally, "Observer" auks if. I will education of the poor in English alate my own theories us to the and Chinose, particularly those As to the effect of interest rates cause of this premium. No, "Ob-who, having to earn their living, are unable to attend school during I accept us axiomatic that so long server" I will not. as the rate of interent charged is
I stated them at some length to a the day. He later deputed, his son, less than the rate of profit earned number of my friends a few even- Mr. Wong Kwong-tin, to take the public will continue to borrowings ago and the best comment on charge of the English section of When the money market tightens them came from the young person in the school. He was also one of because of over-investment banks pink, who asked me if I thought the promoters in 1920 of an Indus will restrict the demand by raising July was an opportune month for trial School for Destitute Children the rate of interest.
planting larkspur in window-boxes, and Orphans at Hongkong and it
in understood that he left some. Yours, ele.,
money for this worthy purpose,
Mr. Wonk was a supporter of many charitable institutions and sports clubs. He was a man of n always ready to give to a good cause without permitting his anme to be
Precisely the sume effect will be apparent, in the event of over- hoarding, which is merely over-in-
vestment at no proflt.
known.
LOCAL WEDDING..
Wan
Hongkong, July 26th, 1929.
The remedy If either case is
Siram rather surprised that
quiet. temperament, and the tubes can withstand the greatest expansion of currency. If invest "Z" has nothing to bring forward notices as a preliminary to dis-water pressures to be found in the ments are in sound profit carning against my demand for higher Atlantic, and the connexion of ventures on a fair economie insta security on the paper dollar. He cussion. The Government, how-
there are no good reasons for certainly has not allowed much to Europe with Amerlen by telephone withholding credit and several pass him up to the present. ever, has now succeeded in bring-1s now technically possible. The good reasons for facilitating it. His commenta on my readiness ing the parties together again, and proposed cable, we understand. As a
fuel the danger point in far possible inflation measures are we ran but trust that beneficial will contain at least four insulated currency on a sound market is off the line altogether. The word | "inflation" when used in connexion copper wires, of which half will more likely to be encountered by with monetary affairs has, up till serve for traffic in each direction, panding it.
contracting currency than by ex- now, signified an abnormal in- MİR. PAUL BARKER AND MISS crease of a country's currency issue language will be no audible on Similarly, the hourding of paper not an increase in the exchange the other side of the ocean as money, though it may be a sense- when entering the cable. The less and uneconomic proceeding rate an "" suggests,Yours, etc,,
POUND OF FLESH. economie advantages of the prqvolves the note-issuing banka in no. on the part of the hoarder, in-.
Hongkong, July 25th, 1929, ject, apart from its extra reliabi- risk and there is no valid reason Iity and privaèy as compared with that I can see for banks restricting the Transatlantic wireless tele- The supply of notes because Ah Sin phone, are many. It can be used in putting them in the nickel-plated simultaneously for telegraphy, and teapot on the mantelshelf instead of investing them in lee House it is capable of transmitting 3,000 Street, After all, what he does
The coat, mining problem lus yet to be settled, and here we have one of the most difficult tasks confronting the Government. Be ford the Labour Party came into offee, it gave an undertaking to repeat the Eight-Hour Act, and from the latest utterances made it is clear that the Government
WATER LEVELS.
FOR WEST, NORTH AND EAST RIVERS,
Cinema Pictures..
Sir,-After reading the report of the general meeting of the
MARY WATTS.
A wedding of very considerable. loen interest took place at St. Joseph's Church this morning, when Miss Mary Watts, M.A., of the Education Department, daughter of Mr. Augustina Watts and the late Mrs. Gèrtrude Watts (nee Patmore) was married to Mr... Paul England Barker, of Blessrs.. Gibb, Livingston and Co., son of
intends abiding by its promise.tetters of the alphabet per minutę. I with his paper money in his affair. Hongkong Amusements, Ltd., I am Mr. and Mrs. F. Barker, of Man- This is bound to revive a some. The development of long-distance It is only when he hoards gold or glad to see that one of the share-chester, what bitter controversy, but we telephony on such a senle is enp.silver that he becomes a nuisance, holders has made a very frank re. Both bride and bridegroom are observe that the abolition is most able of revolutionising communi-polley to expand note issues on lures that the Hongkong Amuse and although the wedding was a It would, however, be a fatal mark about, the quality of the plc-very well-known in the Colony, likely to be carried out by cation services within a very short the present market when no singlements are exhibiting in theatres in quiet one, there were many friends. gradual process. When the legis space of time.
eymptom of over-investment in any Hongkong. For the past few months, present to witness the ceremony. lation on this point is brought
pictures that are being screened 'at
The bride, who was given away forward, we may anticipate some Interesting developments. In the
only material evidence we live- There are quite a large number in a gown of cream georgette, meantime, there is and aspect of
the current low rate of interest-of film producera both in America with veil of old laco, Mr. B. L. the Government's policy which
tends to discount the assumption. and In Europe al If the Hongkong Groome was the "best man."
What. "Observer" has, at the Amusements would spend a little The ceremony was performed by muxt find general approval,
back of his mind, I think, is a more money, which they can afford | the Rev. Fr. Byrnem, S.J., whilst The following table, compiled well known phase of namely, its intention to werk in by the Roard of Conservancy titative theory as applied to paper would get a far better class of pic orxan.
the quan
to do, I am positively sure they the Rev. Fr. Riganti was at the unison with both the owners and Works of Kwangtung, shows the currency. Miners' Federation with a view water levels in English fect on it may be shortly, described in now,,
If I recollect. It rightly |tures than what they are exhibiting to improving the Industry. In on the dates named:
the West, North and East Rivers these terms. particular, we are gratified to aco that the Government desires to do everything possible to develop the organisations for district market-
form whatever exists,
What evidence is there on this the Queeris are as a whole totally by Mr. Paul Baskett, was attired mintter of over-hoarding? The unfit for such a theatre,
Shiuhing Tsingyuen Samehui Sheklung.
July 23 July 24. 17.4 19.0 11.7 10.0
5.7
7.3
I think it is high time now that Paper money derives a value the Management give more consi- In the market from the prospect deration to the public and secure of its ultimately becoming con- better pictures or else lower their vertible Into coin. When this admission fees.Yours, etc., value becomes greater than its value as n means of payment
MOVIEFAN. Hongkong, July 26th, 1929,
There was no reception.
In a Rhineland 'village which mon in the "war,' the lost 12 "church clock has the houre-mark-
ed with the names of the fallen. soldiers.