THE HONGKONG TELEGRAPH. THURSDAY, JULY 13, 1933.
Do you wake up tired
A MATTRESS
Can Make
This Difference in a Woman's Face ...
Or radiant.... eager really vital looking?
Whether you know it crnot, 'there is a diffuzonce in the kind of sleep you get-frum different mattresses.
837 Inner Springs
in Individual Pockets
Scientific bservations have proved that you cannot get comp etely rested on a lumpy ra sagging mattress.
Feeling around all night for a comfortable position lying huddled in a hollow. Things like this leave nerves and muscles only part-way rested. And the lines they write in your fice are known as lines of mattress fatigue."
But there IS a mattress that is scientifically built for completely relaxing sleep-the Simmons B autyrest Mattress.
In this famous mattress are 837 tiny coils of finely tempered steel, esch in its individual muslin pocket.
They uoy you up. You feel no pressure. No restriction. You can tara in your sleep without knowing it! Evory inch of you gets glorious y relaxed!
GO SEE this wonderful mattress this very day.
SIMMONS Beautyrest
KING'S THEATRE
THE AIR-CONDITIONED THEATRE.
COMMENCING SATURDAY, 15th JULY.
STRANGER THINGS ARE HAPPENING THAN YOU EVER DREAMED!
Look at the peo- ple near you! They may be living..walking.. breathing under the spell of
WHITE
OMBIE
Z
·Article 24
PINAL CODE
of the
REPUBLIC OF HAS
"Aho shall be qualified
as atempted murder the suployment of drugs, kypanels or any bibat ver
sul practice which gr
chicas Satharple ebens, gr Melesz slaapy and if the
ared empoder na
what resell follows."
WITH
BELA LUGOSI
Ster of DRAGULA
A VICTOR and EDWARD
HALPERIN
PRO: D'UC_T_FO]H
Directed by Victor Halperin
RELEASED. WY! UNITED ARTISTS
STARTS WHERE ALL OTHER MYSTERY DRAMAS LEAVE OFFI
Hero's a burning glamorous love tale fold on the border- land of life and deathl
WATCH OUT FOR
THESE
THEY EYES.
WILL CAST A SPELL OVER YOU, TURNING YOU INTO A SLAVE, MAKING YOU. DO. HIS
EVERY BIDDING.
PLANNED ECONOMY AND PLANNED PRICE LEVELS
(Continued from Pago 6.)
method this could be accomplished, and that, in particular, a rise in the prices of manufactured goods and a rise in wage rates in factories should be the starting point, I think this view very definitely wrong. I think) that what the factories need is greatly Increased volume, and that what Inbour needs- is, first of all, greatly increased employment. The price rises that we want to come first are in foodstuffa and raw materials. Ultimately, as employment Increnaes and as raw materials and foodstuffs rise, the aggregate of buying power In the country would be so greatly Increased that the prices of manu- factured goods and the wages of factory labourers can rise also, but this should be a Jaler stop, brought about by natural forces, by the mar kets, rather than a first stop artificial-Į ly forced. To get,rising, prices off manufactures, or even rising wage rates, before there. Is' an increase in employment and an increase in volume of production, is merely to choke off demand, and to add to the misery of tho millione of unemployed the additional burden of a rising cost of living.
PRICE LEVELS, DEBTORS & THE GENERAL ECONOMIC PICTURE.
I want to say something about that Achool of economic thought which sees all our difficulties in terms of the price level, the general average of com- modity prices, and which bolloves that if We could stabilize the general; average of commodity pricen wa should solve all our economic problems. They do not agree among themselves as to which price level is to be stabilized. Some wish to take the general average of commodity prices at wholesale, others would take the cost of living average, which would involve retail prices and rentals and perhaps wages of domestic servants, and should, of course, includo physic- iana' fees and things of that sort. Still others think in terms of n larger number of things which are bought and sold, including real estate itself and even stocks and bonds, and would make their price level wider than the commodity price level. But, in general, this school maintains that If we keep the price level stable we; should avoid all trouble. Rising prices generate speculation and un sound credits, falling prices rob debtors, and, if they go too far, make it difficult and in many cases im. possible for debtors to pay their debts, The solution from the standpoint of this school, is to strike at prices-not at particular prices, but at the general average.
Exclusive concentration upon the commodity price level as a criterion! of credit and currency policy must: necessarily lead to failure to use credit and currency policy properly with respect to other and at times much moro important phases of the econo mic situation. Thus, in 1928 and 1929, after years of overexpansion of credit which had generated on
ab- solutely wild stock market boom, we were told by the advocates of com- modity price stabilization, notably Professor Cassel, that wo should not tighten money rates to check the stock market boom because commodity prices hnd not risen, and that we should, in fact, increase the volume of credit because commodity-prices-had-moved | down moderately. Whatever may be said of commodity price stabilization as one among several goals of credit policy, there are many other things also to be considered in the rest of the economic situation in determining credit plicy. Exclusive preoccupa. tion with commodity prices can lend only to disaster.
£2.50
It is usual for adherents of this school to use the terms "value of money" and "general level of prices" if the one were merely the opposite side of the other. When prices have risen, they say that the value of money has fallen, and, when prices have fallen, they, say that the value of money has risen. There is
Everybody's Talking
about...
Platinum Blonde
SHARE PRICES
TO-DAY'S' QUOTATIONS ·
The following in the list of local share quotations issued to-day:
Banks.
'kong Banks, $1825 sa.- H'kong Banks, London $183 a. Chartored Banks, £15% n. Mercantile Bank, A. & B.
£241⁄2.. Morcantile Bank C., £9% n. Enst Asia, $101 b.
4
Am: 0. Finance Corp., Sh. $20 m. China O. Fla. Ord., Sh.85.40 n. China O. Fin. Prot. Sh.35.00 n.
Insurances.
Canton Ins., $300 b. Union Ins., $560 so." China Underwriters, $2.40 n. China Fire, $595 n. H.K. Fire Ins., $202 b.
Shipping. Douglas, $32.00 n. H.K. Steamboats, $18 n. Indo-Chinas, (Prof.), $30 n. Indo-Chintis, (Def.), $821⁄2 B. Shells (Benrer), 52/6 n. Union Waterboats, $15 n.
Mining.
- Benguets, $29%.
Kailans, 82/6 n.
Langkats (Singlo), Sh. $17% n. - S'hai Explorations, Sh. $4 n.
S'hai Loans, Sh. $6.40 n. Raubs, $10 n. Venz: Goldfields, $5 n. Benquet Exp., 28 eta. n.
Docks, etc.
H.K. Wharves, $129 n. IK. Docks, $16 n. S. China Mators A., $10 n. S. China Motors B., $8 n. Providents (old), $3.90 sa, Providenta (new), $1.40 b. Hongkowe, Sh, $334 ... New Engineerings, Sh.$7% n. Shanghai Docks, Sb, $151 b and
Вал
Lands, Hotels, etc. H. & S. Hotels, $7.85 b. H.K. Lande, $7TTY, D. S'hui Lands, Sh. $32% n Metropolitan Lands, Sh. $14. n. Humphreys, $14 n.
H.K. Reallies, $8.10 8.
Asia Renities "A" Sh. $140 n. Asia Realtics "B" Sh. $20 n. Chinese Estates $97 n. China Réalties, Sh. $14%1⁄2 n. China Debentures Sh.$137 n.
Cotton Mills, Ewa Cottons, Sh., $15 n. S'hal Cottons, Sh. $109 m. Zoong Sings, Sh. $1431⁄2 n. Wing On Textiles (8) $95 n.
Public Utilities. Trumwuys, $2280 sa. Peak Trams, (old), $15% n. Peak Trams, (new), $7% n. Star Ferries, $92% b.
Yaumati Ferries' (old), $27 n. China Lights (old), $13.15 sa. China Lights, (new), $121⁄2 ¤. H.K. Electrics, $74 s. Macho Electrics, $23 n. Sandakan Lights, $10 n. Telephonés (old), $31.10 1⁄4 xn. China Busca, Sh. $111⁄4 n. Singapore Tractions, 17- n. Singapore Pref. 18-n.
Industrials.
Malabon Sugars $15 n. Cald: Macg. (old), Sh. $20 n. Cald: Macg. (Pref.), Sh. $16 n. ..Canton Icos, $6 n.
Cements (Com.), $6.20 b and sa.. Cements (old), $6 n. Coments (new), $1 n.. II.K. Ropes, $0 n.
Stores, etc. Dairy Farma, $28:30 sa. Waisons, $10 s.
Der A Wings, $1 n. Lane Crawfords, $41⁄21⁄2 n. Mackintosha, $21 n. Sinceres, $14 m. Wm. Powells, $2.10 n.. Wing On (H.K.), $185 n.
Miscellaneous, Amusements, $121⁄2 n. H.K. Entertainments, $11% n. S.C. Enterprises, $34 n. United Theatres, Sh. $4 n. Mneno "Greyhounds," $10 n, Constructions (old), $3.00 n. Constructions (new), $1 n. B. Ind. & Bonds, 77% n. H.K. Govt. Loans, 44% b. Prom, Wallace, Harpers, $8 n.,
no harm in this if they are merely. giving a definition of the value of money though I don't think that such a definition is very useful. But there is great harm in this if they conclude from the fact that the general average, of prices has risen or fallen that money la nomehow or other to blame and that the remedy is to be found in currency manipulation.
(To be Continued.)
SWAN CULBERTSON & FRITZ.
Investment bankers and brokers in securities and commodities. Daily New York and London Stock Exchange Service. Commodity Futures on the principal American marketa, Members of:
Now York Cotton Exchange. Chicago Board of Trade. · Commodity Exchango, Inc.
(Sliver, Rubber, Silk, Coppor, Hides and Tin).
Correspondents for Haydon, Stone & Co. Telophono 80244.
Cablo Address: Swanstock. Asia Life Building, 14, Queen's Road, Hongkong,
Whiteaways
WHITE AWAY LAIDLAW C
SPECIAL VALUES.
IN OUR
LADIES' OUTFITTING DEPT.
Wonderful Value
IN
BATHING CAPS. BERET SHAPE RUBBER
BATHING CAPS.
As illustrated. Colours Red, Blue, Yellow, White, Orange and Gold.
NOTE
THE
CTS.
PRICE 75 sach.
LADIES' SILK HOSE
·ONE OF OUR BASIC VALUES
British Manufacture
Ladies' Silk Hose with Cotton tops and
feet. Wide clastic tops.
Cuban Heel,
In the following colours:
One
Mauresque, Sun Bronze, Pearl Grey, Terripan, Leaf Mould, Snuff. Noisette.
ONE of
Whiteaways
Sizes 82-10.
BASIC VALUE PRICE
$2.25
BASIC VALUES
pair.
THE "MONA" LISLE HOSE
A'Velvet Lisle Hose with the New Cuban
Heel. Sketchleg dye and finish, British
manufacture. Sizes 82 to 10 inches.
Can be supplied in White, Black, Beach
Tan and Omar.
BASIC
VALUE
$1.25
PRICE.
pair.
LADIES' LEATHER BELTS
SILK SCARVES
Fancy Leather Belts
In all Colours and innumerable styles. British made. Specially suitable for present wear with Summer dresses.
$1.50 each.
White Kid Belts
in all widths
$1.50 $3.50
Art Silk Scarves in the latest designs and 'colourings.
$1.95 $11.50
to
CHROMIUM PLATED SCARF RINGS
$1.00
NEW ORGANDY RUFFLES.
In white and colours.
$5.75
oach.
to
NEW STOCKS OF WOOLS
In All Makes.
LADIES OUTFITTING DEPT.
WHITEAWAY LAIDLAW & CO., LTD.
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