WATSON'S
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+ Highly recommended by the Medical Profession
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20 per cent.
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THE HONGKONG DISPENSARY. Est. 1841
NOW ON SALE
NEW VICTOR RECORDS
FOR MAY.
Including Two of Caruso's Finest Records (Re-recorded by the Electrical Process).
1616
O Sole Mio (di Capua).
La Donna Mobile (Rigoletto) (Verdi).
7770 Alda-Celeste Alda (Verdi).
Les Pocheurs da Perles (Bixot).
Je Crois entendre encore).
THE HONGKONG TELEGRAPH. THURSDAY, JUNE 1, 1933.
NEW
for Economical Transportation
CHEVROLET
CARS
WITH FREE WHEELING
AT
BARGAIN PRICES.
HONGKONG HOTEL
GARAGE.
Phone 23124, Stubbs Road.
Hongkong Telegraph.
THURSDAY, JUNE 1, 1933.
A TEST FOR OCEAN FLYING
tlalities of the aeroplane. The Italian government, attempting |
The STATE'S SEARCHLIGHT ON The Very Idea!
a spectacular flight, bids fair to give the cause of air transporta- tion the biggest filllp it has re- ceived since Lindbergh's Atlan- tic flight.
Self-Help for Iron and Steel
I
WALL ST. BANKERS
DILLON-THE MAN WHO WILL
AMBITION. NEVER REALISE
By WILLIS THORNTON
The Goliath of the army of private banking against which the United States Sonate is hurling its pebbles of investigation, is J. P. Morgan & Co. But there are other giants in that army and they are little less formidable.
sue and floating of securities, which have achieved a mammoth concentration of money power. Investigated 20 years ago with little result, these private banks now face further probings and perhaps regulation,
Clarence Bilion
Kuhn, Loeb & Co., is probably next in size to the House of Mor- gan, though of course absence of famin J. Battenwieser, Elisha public reports makes it impossible walker and Hugh Knowlton. to say with precision.
LEE, HIGGINSON & CO. Important directorates held by
A
RANDOM RAMBLINGS By Eddie Kelly, Half Wit FTER tearing our hair for two hours, twentyeight minutes, and filtynino seconde, trying to think up some sub- Ject to pass on to our un- appreciate public to-day, we have decided to write about nothing at all.
THERE'S nothing funny
about trying to write a funny column. You start off with a mind like the burial service, tear up reams and reams of paper and your hair, finally scream yourself hoarse over a particularly witty simile you've managed to think out, take it in to the Editor, and watch him anxi- ously while he reads it.
Editors are like that. We've had so many knocks on the chin from our Editor that we'd have been knocked flat ages ago if it
Second only to Morgan in the general private banking field, Kuhn, Loob is probably second to none in the railroad field. Rail. these partners include the interna- wasn't for the fact that we get
Co., so many kicks in the pants.
There are two points of special interest in connexion with the recently approved scheme for the reorganisation of the iron and steel trade in Great Britain.
Kuhn, Loeb & Co., Lee, Higgin- The first is the scheme's frankson & Co., Dillon, Read & Co., aro recognition, in a world where an typical examples of the hugo neroplane flying over the Hima-private banks specializing in the Inyas affects the employment of garage hands in Derby, that a final solution for the problems of a national industry can be found only through international co-operation. The root trouble of he iron and steel industry is thof most other industries, an oxcess of production over con- sumption, a condition that neces- sitates international action for bringing the two sides of the equation into equilibrium. The second point of intereat in con- nexion with the scheme is that the plans for reorganisation are not being forced upon the Indus- try from without, but are the industry's own proposals. April, 1982, the Import Duties Advisory Committee agreed that the British iron and steel trade should be protected from certain forms of foreign competition, but also made its opinion clear that tariffs alone would not re- store the industry's prosperity- The need for some form of re- organisation was apparent. The industry itself then established. a national committee, which in turn formed regional committees ain Scotland, South Wales, on the northeast coast, and in the mid- lands, in consequence of which
In
Chiengo
Why, we've got so many kicks
roads to which it has lent ald ne tional Acceptance Bank, American reorganizer or banker include Securities, the Manhattan Northern Pacific, Union Pacific, Los Angeles and salt Lake - R'y B. & 01(2), Fleischman-Morris, General Southern Pacific, Pennsylvania, Missouri Pacific, American Tank Car, Susquehanna in the pants that our Editor & N. Y. Railroad, U. S. Leather, doesn't scratch matches on the Illinois, Eastern Wabash, Texas & Pacific, and U. S. Rubber (2), National Rail sole of his shoe any longer, bo- ways of Mexico, Paramount-Publix cause it tears holes in his socks. Denver & Rio Grande.
Pan-American
Editors who never use blue Its palatial offices at William (2), Chemical Bank and Trust, and Fine streets occupy four Western Union, floors, and are, through the privato Petroleum, International Mercan-pencils are about as rare activities of the partners, the tile Marine Petroleum Corpora- Scotsman who throws the cork he opens a bottle of whisky for his wollspring of Jewish charities and on, and Sinclair Consolidated into the waste paper basket when benevolence in the United States. There is a pronounced air of art
guests. and internationalism about Kuhn, Loeb & Co.
Oil.
Perhaps the most impressive banking house in the Wall Street area is the magnificent new home of Lee, Higginson & Co., a dream in marble of what a banking room might be. This is a Boston firm 丸 single which goes back to 1848, for the little ones grow up. years operated from
RAILS AND KUHN, LOEB. Otto H. Kahn, partner, is best known to the public through his patronage of the Metropolitan
are 15 partners, headed by George Opera and other musleal enter-location in State Street. There prises.
Felix Warburg, partner, des-C. Lee, and the foreign sotup is a scheme has been brought for-cendant of a long line of German identical with that of the House house of Higginson & Co., and the bankers from Hamburg, is one of of Morgan, including the London our great philanthropists.
abroad.
The International aspect
ie Paris house of Lee, Higginson et It has an apparently dependent
45 4
As Aristotle or Stella Ben- son or somebody once said "It's a heck of a life." Speaking of life! How quickly
It seems as if you no sooner get through sitting up with them than you're sitting up for them.
.
women.
In a world grown a little dazed by chasing its tail around spiralled path of economics and politics it is difficult to spare
If they're women they ab- much time for contemplation of
sorb most of the flattery In this world. The rest goes on activities that are more specta- ward, and has been officially ap proved. It proposes the estab-
tombstones. But that's life... cular than useful. Nevertheless, lishment of a group of associa
Which brings us to it is worth noticing that the tions which will encourage the aided by Licut.-Col. Sir William Cle.
to the incorporated branch, the Lee, Hig-(Don't interrupt us!) This is n Italian aviation corps is about to concentration of production in George Eden Wiseman, partner, a
soldier who had charge more efficient plants, British Secret Service in the ginson Trust Co., incorporated in stage one of the most sensation- the
bo able to negollate
United States after he was invalid-1927 under Massachusetts law to subject about which we know a lot. We've loved many women in our al flights that has ever been and
with producers ed home from distinguished ser- do a "general banking and trust
Hc also business. This had, In 1931, not time. They say that only women before Ypres. This plan has the vice attempted. In the next few agreements days, unless plans are suddenly merit of not requiring any brought to Kuhn, Loeb & Co, a quite nine millions in deposits, know the value of love, but men the influence of Lee, Higginson & burns with love for a woman, be altered, a squadron of 24 Italian violent changes in the organisa-close connexion with the British which is of course, no measure of know what it cost, and when a man
Founded in 1867 by Solomon Co. itself. seaplanes, under the leadershiption of the industry. The sug- Cowdray oil interests in Mexico.
Loeb and Abraham Kuhn, this of Gen. Italo Balbo, will attempt gested groups will be formed by to fly from Italy to Chicago. amalgamating the fifty or more firm, like the House of Morgan, wards of a
is now divided, and they will be business. Its hold on railroad public eye as American bankers finally co-ordinated by an Iron financing goes back to 1897, when for Ivar Kreuger. It was a Lee, ΕΠΤΟΤΗ that led over control of the the Kreuger and Steel Corporation of Great Jacob H. Schiff tangled with E. H. Higginson employe who caught suicide. Britain. The whole scheme is Harriman
recently formed ሳ Dow was co-operation between Schiff, It recognised to be only the first Northern Pacific, and the result to his downfall and
Other women in Hongkong are step to recovery; but it is often Harriman, Standard Oil monoy, securities afiliate, the Leo, Higgin- the first stop that is the most and City Bank (now the National son Corporation, with capital sub-like hens. You know, the Kow-
scribed outside the partnership, dimcult.
City).
It was Schiff who appeared be-the latter remaining with its assets toon hon and the Peak her.
"They're selling my eggs for 85 fore the same Pujo committee intact. Loo, Higginson has acted which examined J. P. Morgan in as banker for many utility com-conts a dozen this week," said the
panies, including Puget Sound Kowloon hen. 1018.
This firm has distributed up- billion dollars in
S. MOUTRIE & CO., LTD. The total distance to be covered associations into which the trade, has roots in the merchandising securities, and was recently in the
York Building,
Chater Road.
ANGEL SKIN LACE
i
FOR
EVENING WEAR
IN
BLACK POWDER BLUE PINK & PALE GREEN 36 inches wide $6.75 yard.
ALSO
SILK NETS
.in
VARIOUS SHADES
54 inches wide $3.00 yard.
and
Cleaning Cleopatra's Needle
even
exceeds 6,800 miles and it will be accomplished in six hops, from Rome to Amsterdam, Amster- dam to Northern Scotland, from Scotland to iceland, Iceland to Labrador, on to Montreal Chicago.
The flight, of course, will be linked with the Century of Pro- gress exposition in Chicago. It will be a "good will" gesture of
It seems highly improbable that considerable value for the Italian
very intimate acquaintance with government. It will, also-if it Egypt's famous Queen had any is blessed with any measure of 80 housewifely an object as a success-do a great deal to needle. The arduous occupation hasten the day when regular of gracefully reclining on silken are cushions on golden-bannered ro- transoceanic air services commonplace. One hundred flyersyal barges was rather more to have been chosen to take part in her liking than plain or
fancy sewing. The only possible the flight, and in preparation for reason, therefore, for so naming it they have been trained 48 the ancient obelisk that adorns rigorously as any group of the Thames Embankment, in Olympic athletes. Italy is tak-London, evidently resides in the of failure, fact that it has a point at one ing no chances Machines and men will be in the end and once stood in Alexandria where Cleopatra held her court. best possible condition. The It was there long before she saw very thought of`two dozen aero-it; indeed, it already possessed planes winging their way across quite a respectable claim to an- the ocean in a body is exciting, tiquity, having been originally There will be people, of course, set up in Heliopolis by Pharaoh who will be quick to proclaim Thothmes III in 1442 B. C., only being transferred to Alexandria that such a flight emphasises then 18 B. C. by Cesar Augustus noed for stronger defences to adorn the Cæsareum there.
The against hostile air fleets. old bogeys of the destruc. Now, the needle needs polishing, according to a correspondent of The by tion of leading cities
the London Observer. "grime and filth"
bomba will be hauled out
of cockney
the
again; the old story about the civilisation" have caked the new supremacy of the aero-
fine pink granite of plano will be chanted anew. These arguments can be left to singlestoned shaft so that none military authorities, For the may read the lavish encomiums his personal ordinary persons, the flight will which the shrinking Thothmes bo noteworthy as a demonstra- bestowed upon tion of the reliability of the prowess. At least, the writer aeroplane as an instrument of pleads, if the monument to the long-distance communication, doughty old warrior had to be If a squadron of this size can wrenched from its natural habit accomplish an ocean crossing, it at in Egypt, Londoners might at
LANE, CRAWFORD, LTD. should be fairly obvious that reg-least make the offort to keep it
Piece Goods Dept.
ular transatlantic, air services fairly clean. It does seem that can and should be established, thirty-three centuries of service We shall be forced to realise that give Cleopatra's Needle a right so far we have hardly begun to to receive in the land of its ox- use all, the marvellous poton-patriation the Order of the Bath,
generally makes a fuel of himself.
Especially in Hongkong, where they're apt to give themselves airs,
If you bask in the sunshine of the smile of some of the local gold-diggers you're apt to get sunburnt.
"That's nothing," sniffed the Power, Peak hon. "It costs 45 cents to buy
as mine."
"Huh," said the Kowloon hen.
The present partners of Kuhn, Power & Light, Savannah Electric Loob & Co. are Warburg. Kahn, & Power, Houston Electric, Dallas George W. Bovenizer, Lewis L Light & Power, Montana Strauss, Wiseman, John M. Schiff and also such general firms (son of J. L.), Gilbert W. Kahn Budd Wheel, By-Products Coke, (aon of Otto H.), Frederick M. U. S. Smelting, Fairbanks Morse, I should strain myself for ten (Continued on Page 6.) Warburg (son of Felix M.), Ben-
"so you can estimate that the first your's profits would pay off the mortgage."
cents "
BEAUTY AND FASHION. [Ordere executed in strict rota- lion. A full-sized photograph must accompany all inquirios.]
"My ears are very large, and at golf or tennis tend to flap. Is this, do you think, an attractive fent- ure? and if not, what should I do about it?" Budella.
Woll, dear, tastes vary, and we can only speak for ourself. You could wear a bonnet, you know (? with bugles), and if you are a "Society girl" the notion might "catch on." Another idea would be to dress in such startling. fashion (for example, in brown paper) that no ono noticed your cars. Give my love to the other headaches won't you?
A DOUBLE EVENT,
A sweepstake within a sweep- stake in the latest form of Froe State enterprise. We recently re- ceived several books of tickets, posted in Birmingham, for "Sweep" organised by an Irish holiday resort. Ticket-holdera were entitled to participate in the great Dublin draw, the promotora of the resort awoop having secured block of tickets in the Irish As the Hospitals Sweepstake. number of participants in the sub- sidiary swoop is unknown, in- vestors (if any) need extra doses of faith and hope. The circulare accompanying the books gives the name of the organising secretary as Fox. We at any rate, have no Intention of figuring In a skeln of goose..
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