EURESOL
FOR THE HAIR
$1.50
A Germicidal Lotion
which is pleasant to use.
Eliminates all dandruff and is
A Genuine Hair Tonic.
TO BE HAD WITH OR WITHOUT OIL.
A. S. WATSON & CO., LTD.
ESTO, 1841.
"PATTERSON"
ALL WAVE
SUPERHETERODYNE RECEIVERS.
The most reliable All Wave Receiver on the market
European Stations
regularly, received.
Let us demonstrate one of these popular sets in your own home
form your own opinion of their merit under the conditions you intend to use them and buy by results.
All sets sold fully serviced and maintained. S. MOUTRIE & CO., LTD.
York Building.
་་
Chater Road.
CHRISTMAS
Q
QUALITY ECONOMY
HARM
CARDS
of
It takes good art and perfect printing experience to make Quality Christmas Cards... Skill makes all the difference between mediocrity and beauty.
tu
Lane Crawford's Christmas Cards are cards of Quality and will thrill the hearts of those receiving them.
And the values allow for a range in selection seldom ever equalled,
For weeks we have been preparing for the Christmas Card season, and we have the largest and finest stock of cards we've ever carried,
* Get your Cards in time.
• Come in to-day!
Lane, Crawford, Ltd.
Phone 28151.
Six Lines.
THE HONGKONG
"VAUXHALL" BIG-SIX
Can now be
seen and tried
£325
The NEW
VAUXHALL SALOON
27 H.P.
Call us up for a
demonstration
HONGKONG HOTEL GARAGE
TELEGRAPH.
MONDAY, OCTOBER 15, 1934.
NOTES OF THE DAY
LONDON TO MELBOURNE
SPECULATION
of
IS BRITAIN NOW DEBTOR NATION?
By ANDREW STILL
$484,000,000 res-
OX-
evan
The Very Idea!
WE TAKE A RIDE
W
By George
he's been sold no well.
whether Scabby does 60 miles to We forget at the moment the gallon or 15 miles per hour and it's difficult to tell when you're
As the day of the London to Melbourne air marathon draws, near, it is of Interest to review the chances of the contestants.
E took our stand last. There are sixty-four entries
Editor of The Investors' Review thirteen different countries that
week in the proud will take part in the Lonuun to buurne air race. The countries HE short answer to this ques-¡there was a deficiency of £14,000,- ranks of the automobile-
THE tion: Are We u with
Debtor 000. In 1928 and 1029 not income owner-driver by the acquisi- the largest number machines entered are the United Nation? would be emphatically from abroad amounted to 475, tion of a little bus which has States with eighteen and Great No-But the question no doubt 000,000 and Britain with seventeen. France has arisen in the public mind pectively, and the total surplus for been christened Scabby. has seven entries, Holland and owing to the prominence given in these tivo years was £220,000,000. As an alternative to breaking Australia five cach, New Zealand! the Press recently to the adverso It must be remembered, too, that a bottle of champagne on him HIS new 27 h.p. Vauxhall Blefour, two from Italy, while Den- exchange rates on London and the a large proportion of the profits when confirming the deal we Six is the kind of, car you mark, Sweden, India, the Irish fall of the pound in terms of gold made by British-owned commercial buckled a wing on the garage Free State, Now Guinen and to the lowest level on record. A undertakings abroad remains indoor and jammed Scabby firmly would expect to cost from £460 Portugal each have one entry. golden sovereiga le now worth the country of origin and does not to £600. It is a big, luxurious in the handicap event Great Brit approximately $38. at home, but gurs in the returns, but is added up against it.
There was no backing out of the Saloon in the true Vauxhall tradi-ain has ben entries to five from the the pound sterling is worth only to the sum of foreign Investments. tion, yet the price is only £325. United Statco, and in the class about 12. in certain world mar-The sharp doeling in these in- garage or the bargain then, so we For over thirty years Vauxhall devoted to speed only the United kota. Foreign exchanges are visible exports during the pasture resigned to becoming a proud
owner. havo been bullding motor-cars, Staics has soven entries, other com- | usually, unfavourable at this aca-three yeara la mainly due to world. When we any we bought the car but never before have they offer- petitors being Holland and France son of the year owing to our heavy depression accentuated by ed such remarkable value for with one each,
purchases of foodstuffs and raw change difficulties and restrictions. We are, of course, using the term money as in this new Big Six. It
materiale, particularly wheat and it is cetimated by the League of very theoretically. With the bud- fs an all-feature car, with entirely
cotton. In the old days the ex-Nations Bureau that the volume of get as it is we fall financially as automatic chorsis lubrication,
changes could fluctuate only nar- international trade has dropped we rine socially. In this case, the pedomatic starting, vacuum-con- There is a good deal of specula-rowly within well-defined limits, 60 per cent, since 1920, and this erstwhile owner though he had done well to sell Scabby. In n trolled Ignition, Aynchro-mesh tion about the possible. winner, because at a cortain point it was has affected the earnings of our month's time he'll be wondering if gears, self-returning direction The conclusion reached is that the cheaper to ship gold than to buy, Mercantile Marino to an indicators and Vauxhall No- successful machine will have to say, dollars. If the outflow be greater extent. The chaos in ex- came inconvenient the Bank of changes, since the greater part of Draught Ventilation,
pоsecas an exceptional range com-
went "off gold" has bined with an unusually high speed. England raised its discount rate the world
to such a level as might be neces-prevented the remittance of in American entries should have an advantage in this respect, because sary, and the current was prompt-terest and dividends (particularly in the United States great atten- ly reversed. Gold, however, to a from South America), and our in-approaching Era wearing green tion has been devoted to developing great extent has ceased to func- come from this source has fallon tinted glasses with the signal
ex-from £260,000,000 to about £150,-
against you. high-speed, long-distance machines tion in this way, and the
However the first day we took for the trans-continental airways, changes
curves 000,000,
her out will always remain in our In this connection, however Sir according to the size of the
memory with such dates as Queen Charles Kingsford-Smith, perhaps balance payments between So much for the position of our Victoria's birthday and the inven- the world's most noted flyer, different centres, while mere International "current account."|tion of the button hole.. Colonel J. C Fitzmaurice hoth speculators сал take liberties which, it may be hoped, la merely We began by sorting out the pinnned to fly American types. which they dared not risk pre-la temporary phase. Behind, that fire-Irons into gears and brakes. British hopes in the great air race, viously.
lies the enormous amount of British and sticking little labola ол to the greatest of its kind yet to be
capital invested abroad. There is them for future reference. Then attempted, are centred the new There is no doubt that specula-scarcely corner of the world we juddered Scabby into first, De Havilland Comet, which is betion has been an important factor which, has not been largely de-ground into second and excavated lleved to be exceptionally fast. In recent exchange vagaries, but veloped by British money and into top before we found that the There are other fost British en-it is not surprising that there is enterprise. It is impossible to foot brake label had been stuck on trics as well, including a couple of an impression that we owe more estimate how much of this is re- the accelerator. Fairey Foxes. The British com-than we have to receive-in other presented by purely private invest- That explained a lot of things petitors are making thorough pre-words, that we are a debtor nation, ment, but it must be an immense Including the garage door but you parations, and they have had more Temporarily, that is perhaps truqsum. At to public issues, some Idea wouldn't believe how much experience on the route to Austra as regards "current account." Byl of their magnitude may be gathered vincing a policeman takes when you fia than their rivals in the coming far the largest item in inter- from the fact that in the Stock run over his toes while he is on racc. The contest, as well as being national payments is represented Exchange Official List, colonial point duty. a teat for speed and endurance,
A woman couldn't say half an will be one for navigation, and in by imports and exports of goods, and foreign loans and railways
For the seven months to the end occupy no less than ten columns. much-which is another argument' this respect the qualifications of
of July Britain imported £163,680,- In addition, there are numerous
in favour of Eva. British pilota afford a good deal of 000 more than she exported, an financial, land, Investment, tram- hope.
increase of £24,030,000 over the way, electric power companies, corresponding period of last year. and mines operating abroad, For the whole of last year this so-scattered throughout the List and called adverse trade balance was largely held by British investors. £264,000,000, and in 1931 it was as much as $408.000.000. These look very formidable amounts, and if they stood alone they would in- the principal items:
we ΠΡΟ drawing
our capital re- Indian Government however, Indian railways....
· SHOWROOM Phone 27778-9. Stubbs Road.
Hongkong Telegraph.
are
MONDAY, OCT. 15, 1934,
AMERICA'S RELIEF
PROBLEM
EXCESS PRODUCTION
man.
move in wide
of
that
*
other services.
revenuo
for
Here is a small list of some of
About £350,000,000 80,000,000 000,000,000
400,000,000
200,000,000
80,000,000
$2,350,000,000
us
With all its faults, the British unemployment insurance system undoubtedly stands forth as the most feasible and humanitarian method so far devised of dealing with a problem which is common to all nations at the present British farmers fall in competi- time. It is doubtless this factor tion with the farmers of new coun- which has induced the U.S. tries for reasons that have nothing to do with the inefficiency of the Secretary for Labour to an-
former. The main reason. дуа nounce that the United States is Mr. John Boyd Orr, is that thedicate at present studying the British cost of production is higher in dangerously on
Fortunately, Britain. In new countries farm- sources. scheme with a view to the adoping is run on extensive methods, there are important offects in the Colonial Governments tion of similar measures by which give a lower output per acre shape of what are known as "in-Colonial corporations
These consist Canadian railways America. At the present time, but a much higher output per man. visible exports."
In Britain there are small farms mainly of interest on foreign in- Argentine Government
250,000,000 from Argentine railways... according to Miss Perkins, there where there is a higher output per vestments, and
Japanese Government .. 00,000,000 no fewer than seventeen acre and a much lower output per shipping, insurance, banking, and Tea & rubber plantations 300,000,000 million people on the relief rolls, cattle runches where one man can In the Argentine there are
on whom no less than $135,000,- look after three or four hundred
The Board of Trade has In Britain cattle
Some of these securities and a 000 is being spent monthly, with head of cattle.
of proportion undergo indoor. fattening in Win- many years made a calculation of small
British no return whatever. The situa-ter and require more than ten the total amount of these items, Government stocke are held tion in the United States is even times the amount of labour to look, which is very valuable as a basia abroad, but our only important worse than these figures reveal, after the same amount of cattle of comparison, although there are foreign obligation is the war debt as in the Argentine. Thus it is independent investigatora who to Amerlen, which, if enforced, is for quite recently it was official- the amount of labour required in maintain that the oficial estimates recoverable from Allied debtors. ly disclosed that approximately | Britain that makes for the high are 100 conservative. However On capital account, however, We be, the results are are overwhelmingly a creditor twenty-three millions will be on cost of production. Mr. Orr says that may
it has been suggested that the interesting. Last year thenation, and although some of our relief during the coming winter.present low price of food is a visible exports were estimated at loans to Russia and other Europ In other words, a sixth of the danger to supply and that produc-£260,000,000, so that there was an ean countries, as well as to certain entire country is no longer able and farmers will conse prndarin, £4,000,000, as against £59,000,000 written off as bad debts, there is tion will become unremunerative apparent adverse balance of only South American States, must be. to support itself. More people He believes that those who enter in 1932 and £104,000,000 1931. & sufficient balance to save than live in New York and tain this foar underestimate the Every previous year for which from worrying unduly about the Pennsylvania combined will get ease of production and the urge records are available showed a future, even if we have to go a to produce. In the methods of substantial balance in our favour, few years longer without being through the winter only through production thero is continuous im- with the exception of 1926, when able to collect our just dues. the assistance of the Govern-provement, and, while the cost of ment. All the relief problems difficult to predlet the
production is steadily falling, it is Jevel to that America, ever had before which it will fall in the future. dwindle almost to insignificance Then he goes on to say: in comparison. It is to be noted, however, that the disclosure of the staggering size of the relief "In any case, at the present low problem has not created any real price, it is difficult to stop the alarm. The news has sobered production of wheat. Internation- al conferences move from one the people, to be sure, and it has capital to another trying to evolve worried them-but it has not a scheme to limit production, and created panic. It has not led authority of the governments con- the united power and them to throw up their hands cerned are finding almost insuper- and look to inflation as the sole able difficulties in stopping people possible solution. It has not made from growing wheat. The same in true of most other foodstuffs. the people feel that all the The grass will grow and the cattle recovery efforts to date are a and sheep will reproduce with flat failure. On the contrary, price for beef or mutton.
supreme Indifference to the world
people generally have taken a Fresh fruit, which at one time was cool and sensible view. The luxury in Winter, enjoyed only problem is admittedly a good sold off barrows in the streets in by the relatively well-to-do, is now deal bigger and knottier than the poorest districts of our cities people thought it was going to to the great improvement of the be but it isn't insoluble. Yet might have added, too, that dis- health of the community." He there is also a feeling that it tribution is a factor to be con- would be wrong to under,sidered, and that though there may estimate the pressure which a it could very well be consumed, be a super-abundance in Britain, relief problem of this magnitude for instance, in China. Is this an can exert. For these 23,000,000 argument for subsidised shipping have to be taken care of, no
or a higher price for silver? matter what it costs; further, to
CONTROL DIFFICULT
80
far
see that they are fed and housed this relief situation really is. is only part of the job. Even Much can be learned from tually they must be put back to Britain's treatment of a like. work. That is main fact, of the task only, servos to em- problem, but the very immenalty and it shows how complicated phasise the difficulties.
"You fellow should be careful how you go around slapping a man on the back."
•
DUMB BELLES LETTERS
By Juliet Lowell, The Cat's In Soft. Consolidated Coal Company Gentlemen:
con-
Kindly change my order from one-half a ton of hard coal to one-half a 'ton of soft. I and my cat likes to sleep in the conl bin.
Yours truly, David O
(signed)
9-20
I find my cat likča to sleej in the coal bin.
Dad Must Be Relieved.
Continental School for Boys. Mr. Sam Fleischer Dear Dad:
I note in your last lottor that you are annoyed that I'm al- ways at the bottom of my class. Don't. lot it worry you, they teach the same things at both ends.*
Yours respectfully,
Morvin (signed)
A Case Of "Conscience". President of the United States America Gentleman:
I am in a dreadful state of mind and, I thought I would write and tell you all. About two years ago, I used two postage stamps that had been used before on lot- ters, perhaps more than two stamps, but I can only remember doing it twice. I did not. realize what I had done until lately. My mind is constantly turned, on that subject, and I think of it day and night. Now, dear President, will you please forgive me, and I promise I will never do it again. Enclosed find cost of three stamps, 6 cants, and please forgive me, for I am heartily sorry for what have done,
James. E
(signed)
Why Not Remove Them? Mrs. Henry Brown
Dear Ma'am:
I'm sure you'll like our Inn. The scenery you ask for we havo. though to be truthful, there's a couple of mountains in the way.
Sincerely yours, THE WAYSIDE INN (signed)