THE HONGKONG TELEGRAPH.
SPECIAL
THE KASHMIR SILK STORE ANNOUNCES WITH PLEASURE THAT ITS WELL-KNOWN BUSINESS - HAS-
AMALGAMATED WITH
THE
BOMBAY SILK STORE
At 2, D'Aguilar Street.
ALL NEW STOCKS COMING ARE BEING OPENED AT THE "BOMBAY"
AS YOU MUST BE AWARE
ALL OLD STOCKS WERE
CLEARED OUT.
THE BOMBAY FOR NEWEST & BEST
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THE YEAR'S WORK
N.R.A: CELEBRATES ANNIVERSARY
SATURDAY.
JUNE
Washington, Juno 16. Président Roosevelt approved the National Industrial Recovery Act one year ago to-morrow-June 10, 1033, at 11.55 a.m.-und there- by launched the major offensivo In his "recovery campaign."
The Act had three principle purposes: (1) the encouragement of industrial recovery through co- operative action among trade groups and between labour and management; (2) an emergency programme of public works con- struction with authorized
(3) turo of US$2,200,000,000. Pendi modification of the lo
law which created the Reconstruction Fin-
during anco. Corporation
the Hoover administration to avold any conflict of policy or purpose with the new recovery measures.
In the year since its pasange, the N. R. A, has given riso to many political, and economic con- troversies, but these in the main have related to the first title of the Bill, dealing with Industrial recovery procedure, rather than to the advisability of the huge public works programme.
The points at issue have been the effect of the N. R. A. programme. on the cost of living and neute differences between labour and capital frequently lending to strikes over the correct inter- pretation of Section 7A of the Act, which recognized the principle of collective bargaining but did not adequately define its application; and the wiadom of tacitly ex- empting codified Industries against the rigorous application of the anti-trust lawn,
Improvements Registered.
Apart from the questions of policy and the long range effects of the N. R. A. programma, apon- sors of the law claimed ample vindication for it in the pro. nounced improvement of most business indexes during the year. The law, they claimed, has been administered to promote, the "self rather government" of industry than 1 strict regimentation." Omeinls did not resort to the broad licensing authority given by the law na a potential "club" over. industry.
Nevertheless, the administration of the N. R. A. engendered wide- spread uneasiness as to whether industry had been constrained to accept a business order essentially different from the traditional set- up in the United States, and ne- quiescence in the plan by many groups was, at least in part, due to the absence of any alternative Hovernmental programme of comprehensive character..
2
Comparable
business indexes for the week ended April 28, 1934. ns compared with the week onded June 10, 1933, the last before ap- proval of the National Industrial Recovery Act-were-an--follows. according to Department of Com- merce compilation:
(Weekly average 1923-25 equal 100) Production indexes.-automo- bile, 130.2 against 69.8; electric power, 100.2 against 92.9; petro- leum, 117.6 against 130.11. (cur- tailment was desired by the in- dustry due to excess production and heavy surplus), steel ingots, 27.4 against 00.5.
Freight car loadings, week end- ed April 21, 01.5 against 58.9. Receipts at principal markets, cattle and calves (April 21), 82.7 nkanst 70.0: hogs, (April 21), 65.1 gainst 85.8: cotton (April 28), 21.3 60.0 against 65.4; wheat, against 73.9, (lower receipts were among the objectives of the A. A. A. programme).
Wholesale prices-all com- against 62.7: modities, 73.1 agricultural products, 50.6 against 46.4; non-agricultural products, 79.1 against 60.1; copper, 60.1 Against 66.5; cotton, 41.2 against 34.2; iron and steel, composite 84.0 against 69.5; wheat, 54.3
gainst 65.0.
Commercial
against 98.5:
falluros.-04.4
Bands prices-106.1 against 04.4; Stock prlens-94.9 againat 87.4. United Press.
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EBA 45
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A BROKEN DOWN: SYSTEM. Tals je a pocdition (or disasse) to which many names men giroq bu mow seally, understand, Is almply wakness-a bronke dawa aš te werk, of the vital forces that nuntain the system. Na malis what may be its causes (they are almost numberless), Its symptoms are much the same j the more
of prostations bolag sleeplessness, VOTI
of Carines, depression 时 aplica and want of energy for all the ordinary
d
all such path Row, whai slons is essential in
In increased vitaliter, rength and energy to throw off thase, feelings, and as may the more certain moceeds the day tile
secured by a course i THE NEW FRENOM ŘEMEDY,
THERAPION No.3
than by any ciber known combination. Ensueely as it le také in mordanton, with the peinisa Kisations
as will the abalined bealth be restored THE EXPIRING LAMP OF LIFE'
LIGHTED UP AFRESHE and new existence imparted in place of what had po lately seemed worn-qui, tied up and value less. This preparations is nullable fer áil ages, Dentition and conditions, in eliberare) And Ji Selmonte te Jingine a disease or derangement. whose main fentues is waakao, that, will, woll be speadily and prematantly overo by'thia puzujerstira eazendo, which is destined to eIN into oblivion everything, that had preceded li For this wide-spread scourge of groantry,
GUERO CI | LAYMentuais Kal, 14.WALLondon, In
D
TO-MORROW THE KING'S