*
THE HONGKONG TELEGRAPH, FRIDAY, MARCH 6, 1948.
H.K. Bank Manager Urges Speedy Their Ages Total 364 Years
North-Eastern
more
Moratorium Legislation
In
Ին
мерз
FOREIGN CAPITAL.
cx-
(Continued from Page 1)
hoped. However it is satisfactory! that the Government will be able to proceed with the development plans described in the loan prospectus.
by
Alread, enquiries are being made; supported by a reliable staff capable some induential Chinese in re- of dealing with any problems it may gard to the prospects of opening have to face with no much skill and business in these territories. There vigour as in the past.
PEACE WANTED
ft
I myself am proceeding on a vialti lo Eoland in a few days' time. I propose to travel vin America no na tu visit our offices in San Franelsco In Landon there and New York, are also a number of important mat-
ters which await declalón. I hope
I shall find you all, and the Colony,
In good fellle when I return in about six months' - time.
I now beg to propose the adoption of the Report, and Accounts as pre- In the Netherlands East Indies and
cented. still dominates commercial enterprize. REMARKABLE ACHIEVEMENTS But twelve months of peace would on long way to set these countries on the road to prosperity again.
Mr K. G. Sheldon, K.C.. in! neconding the Report and Accounts
Provinces there 1C-Communist activity. South of the mains in Nanking's control little Yangtze things are much better but than П tenuous hold on a great den of new rolling stock and Mukden; the Lung Hai rallway other materials are needed. badly disrupted and crossings of the Yangtze River have been threatened.
I have long taken a personal Inter-in undoubtedly great scope here for enterprise such as the British have To South and West China and in
recent months the Chinese est in Hongkong University and am shown in the past in developing the Talwan conditions are generally Government hna rellemted that lad that the Council and Court of
natural resources of backward quiet, but in many parts there is a foreign capital coming tu China the University have recently been re- territories, and the outlook is feeling of unrest due to fears of dis-wili be free from Inequitable established. The first steps of TC- very promising for those who turbances Inspired by Communists and restrictive legislation, and will habilitation having been completed have спегку and initiative. A or other disaffected parties. The be permitted to remit overseas rapid progress can now be made to the present Lime there la disgraceful Shameen episode in rtosonable return. In July Premier bring the University up to in pre-shortage of Labour but Government January was one such case which Chang Chun replied in this sense to war standard but in spite of the are taking active steps to overcome developed without warning.
n questionnaire by the United States generosity of the Colony there are this difficulty. Ambassador and
and again in August his to be hoped that the Home Gov- still urgent needs for funds and it NOT HAPPY SUBJECT
said that procedure
being was China's Anuncial situation is also worked out whereby an appropriate ernment will before long provide not a happy subject to discuss, nor portion of foreign capital
I necessary Lo make the Invested what are the details clear. But Chinese in industrica might be remitted University a model institution within Indo-China the political situation Government spokesmen have fre- Abroad. Unfortunately no
a sound financial basis. practical quently noted the fact that the in-nteps
yet been
been taken to permit flation of currency to meet the Lud-shave
THE MORATORIUM profits,
nor even properly getary
currency deficit, which It was hoped ble forelin would be checked at the end of hos-penses, to be remitted. In the clt-clapsed
Two and a half years have now
Slam has also had Its political sald:- tilities with Japan, has in the post- cumstances it has not been
since The liberation of possibia
troubles during the year but never- war years increased t dangerous for
Hongkong and Malays OAlees
but despite
Bangkok has It is with pleasure that I beg to our
in China fo ly enhanced pace, almost solely tribute towards our dividend.
con repeated and urgent appeals for its theless our Oleo at
satisfactory business and a second the proposal that this In- cause of the needs of the military in
removal the Moratorium is
stilt with done
by kuch naturs!teresting and comprehensive, report Last July we were pleased to wel- In the meantiine the protracted county backed
the Their
admirable operations against the Com-
Sir Alexander Grantham back munists.
delay and the inevitable changes that with as exists in Slam must even- and as Governor of this The oficial exchange rate for the Hongkong
Colony The fact that he was
have taken place have greatly pre tually return to a state of property. adopted, United States dollar Jumped by former member of the Civil Service debts which were outstanding before Islands continue to proceed steadily the Honourable
judleed the recovery by the Bank of The Government of the Philippine) Once again the Bank, described by stages from 3.350 to 80,000 Chinese here and was married in Hongkong the Japanese occupation.
Mr Sloss. In his dalines to the course, ut the year
if somewhat slowly with their re-speech last year, in fellellous phrase, while black market rates have been makes us regard him as the head of
habilitation programme. For thu "the keystone of the commercini or- In Shugapore the prospect of the first time stuce liberation the sugarganisation of 25% to 50% above the oflleinl rate, ur family and 11 is in this scure that
the Far East" fins, ዩሮ look to him to deal with our early removal of the restrictions han Morenver the Central Bank's whole-
problems.
been brightened by the publication crop is expected to have an export-through dimeult and troubled times The earning sale prien index In Shanghai
During the part prar certain ar- last month of the Best instalmical of able surplus of about 223,000 tons. continued Its progress: about 15 times in 117 over the 1946
seven million Copra and other cocoanut products as rangements have been concluded the much heraldest and long awaited well as hemp are in great demand dollars greater than the pront of between the Colony and the Chinese legislation designed to regulate the while the reconstruction work done 1940, and the payment of a divident Government dealing with trade and relationship between deblors
and
should result in increased production 1940, after the vicissitudes of the sisting Chinn to stop evasions of ber before and during the occupation. in 1948. am pleased to any that years 1941 to 1940. are truly re- The outstanding fael is, us vm-own regulations. At the same time The main purport of the proposed our Office in Manila continues markable achievements. I trust the phasized by the Minister of Finame | safeguards were obtained so as lo legislation is to validate in some
Some expand its business.
Board and every member of the Staff are pleased with themselves. They are entitled so to be.
figure while the cast of vin the same period 10 to 12
concerned.
come
to
of a profi
come
accounts
be
according to the classes of persons 1 custouns matters which aimed at as- creditors in respect of debts incurred to Gold, Copper and Chrome mines of similar amount to that paid in
in an laterview reported press
1
in the prevent trade from being diverted on December 23, that there from Hongkong to other territories, is little hope of stabilising facial NEW BANKING ORDINANCE conditions
Jong s BQ
the enurious military expenditure continues. Cur- bu reforms will of course necessary, but while the basic causes of intiation are not eliminated, the Minister added, the issue of a new currency would complicate and lessen the problems.
rency
Hongkong
ان
the
Five "Grand Old Men" of lawn bowls figure in the above picture taken at the Kowloon Bowling Green during the recent Attaboy Match. From left to right they are T. H. G. Brayfield, W. Russell, R. Duncan, L. Guy and R. P. Phillips, and their combined ages total 254 ́years. All five played in theAttaboy game.
MICHAEL EXPLAINS
ABDICATION FACTS
London, Mar. 4.--Young King Michael of Rumania (❤- day declared his abdication was forced and he would not be bound by it. He said Rumania was being ruled by a government "installed and maintained in power by foreign country."
Immediately after making his statement to nearly 100 news Benes Suicide、
he boarded a train for Reports Discredited
5.-The Crocha-
men, Southampton to entch the liner
Nanking, Mar. Queen Elizabeth, which sails for stovak Ambassador to China, Dr New York tomorrow.
Jonet Lelek, last night discredited Michael issued
hadi following reports that President Benes
the
resigned, or committed suicide.
Dr Benes' philosophy of life for- "At the present moment it is no
thebida him to commit suleide, the en- longer necessary to insist on circumstances and causes of certain voy caid, adding, however, that he political events.
had not received any official infor "The motives of the
the profound Imation on
subjectReuter- poilical changes imposed on the AAP. small states of eastern Europe are already too well known.
cases wholly, and In other
cases partially ja accordance with
INDIA AND BURMA graduated gente, payments made to liquidators appointed by the Japan- The year 1947 will be marked as
All at this meeting will endorse ese for the liquidation of British a turning point in
statement; the history of the tribute paid by the Chairman to A further measure which will banks ternet those
Allied India owing to the transfer of power the Staft. Banklag is never an ensy clearly be of abvantage to the Powers.
And rarely bas it been from Britain to the two independent ( business. Colony in enabling control over un-
more complex than it is today. To In
is Dominions, India and Pakistan. The legislation
communal disorders which followed the Board and to every Individual desirable banks, while also indirect-
misery and member of the Slad is due not only widespread capable of benefiting Chino, is the anxiously awaited, but if the priu-Commu new Banking Ordinance relating elples of the Singapore B Bre
the although
crisis Бая
passed, the thanks of the shareholders, but commerce, hs Meantime the Central Bank and the registration and control of banks applied to Hongkong the result will industry and
well the thanks of a multitude of people the Colony.
In these the Central Authorities have made in
and la
development plans have, of all nationalities, who during the ways the Colony has gone out
been greatly affected past year have benefited by their vigorous and
svinetimes successful efforts to lessen the diseases of in of its way to meet China's needs,
by these events, and it is dimeult to fald and counsel. judge how foreign trade will fare Naturally the Colony is also dolug
the present year. Notion and prevent the situation get-
In spite of these task usts utmost to give the Home Govern- ting out of hand. Their
conditions our
Offices at Calcutta been exceedingly complicated and,ment every assistance in their final
and Bombay have not only maintin- under the circumstances, it is sur-clo policies and particularly in the hold the fort in spile of military de- the sterling area pool. The Colony's
satisfactorily throughout the past monds, smuggling, black markets, dollar earning capacity
is limited operations and all the but it is trying to reduce the locat speculative evils which are legacies of war.
FOREIGN TRADE
other
course,
be the validation against the Bank of considerable sums both in genuine and, in occupation currency which
chic the Bank never received but which were paid to aptents of the Japanese Occupying Power who were Bp pointed to liquidate the Bank and contineated its funds in direct viola-
international law. Whether or not this legislation is well coneelver in taw or tu equity the urgent concern In urmus the transfer of power of the public and of the banks now has gone more smoothly and has been
NEW TRUSTEE COMPANY
prising that they have been able to j conservailen of hard currencles for tion of the accepted principles of/et but expanded their activities vex, new Trustée Company, I think it a
drain on these resources.
As regards foreign trade, by incans
of regulations governing the import export trade and by frequent
and
year.
Anxiety Over China's Future
adjustment of the official rate of Sir Stafford Cripps has made; is that the prolonged suspense and marked by manifestations of good- exchange, it appears that reasonable frequent statements About the uncertainty for which it is difficult | will, internally
success
of
THE MALAYA SCENE
the
I am particularly glad to hear of the success of the comparatively
and valuable service, most useful especially in the matter of Executor- ship. If lestamentary dispositions were, as matter of practice, pul blo the hands of 1ite expert
stal which banks, in
in general,
provide for now
for the the work of the Chancery purpose, Division of the High Court might
well be
be lessened, and certainly the reflections of the learned judges 1947 rece
who sit in that is
Svision would
your disturbed
muck there to Uc done to restore
country to prosperity, but Burma bo troubled by the fear 1 brice
has been obtained in en-jeritical shortage
dollars
and to And any Justification should be was couraging exports and in checking in December he appealed
the | brought to an end with the utmost much to the enormous surplus imports members of the sterling area to help despatch.
the which the Customis return showed maintain and strengthen its reserves.
Is so wealthy in natural resources in 1040 and early in 1947. At the The following sentence taken from
that it only requires a strong and end of 1947 imports were reduerd is d
speech in Parliament
02, that
stable Government and exports were making a better
to ensure rapid ocension is, I think, well worth
progress in Internal production and showing but obscurity veils nur - [repeating to indicate the key-note
external trade. formation about smuggling.
of the export-import polley of the We recognise that in tines of cris United Kingdom." He sold: it is necessary for financial
"We
cannot build
healthy trade controls to be introduced by
restrictions Governments and
same such hiteronomy
cure of our vention by the Chinese Government ports or a jealous
reserves....we must increase our { do undoubtedly
Been
since the war, but there are units to
!!oט!!
on
On February 1, the Federation of Malaya was inaugurated consisting of nine Malay States and the two Settlements of Penang and Malarea. Whether it is wise to leave Singapore out of the Federation remains to be seen: there are
many who have doubts on this score.
ON
expressed by that celebrated
Judge Chancery
celebrated cell wit, the late Mr Justice Eve.
in one of his almost immortal after dinner speeches, when he informed his audience of King's Bench Judges and common lawyers that all he could expect when the time came for him to cross the river that all must cross was to encounter on the further bank u host of infurinted testators. whose wishes he had wholly misconstrued, and whose directed into channels which they had never even contemplated.
Interest
We have listened with to that part of the report which re- fers to our great neighbour China, and we will do well, 1 think, to re- gard the note of warning it contains.
In Ceylon the favourable trade balance of 1046 was not maintained in 1947 and strenuous efforts will have to be made to keep the finances of the new Dominion on a sound The year 1947 was a satisfactory basis. Heavy new taxes are now nec foreign exchange income and retain
the confidence of other countries in one for must traders in Malaya but being levied and recommendations benevolence he had which this should go, and there is the stability our economy, not by the tin industry is still handicappert have been made to put the rubber in- wide-spread dissatisfaction in China
by the slow delivery of essential dustry
more satisfactory with
what has been termed "eredit from abroad but by our own machinery. Rubber was depressed footing. The resumption of the tea
production." Jungle growth of Gavernment monfforts in
until the end of September when an auctions in. Colombo" was one of the polles and bureaucrat controlled enduction 1 am glad to say that at the the industry
In regard to local industrial pro-improvement took place: however events of the year. terprises."
remains under the present time some notable steps shadow of the synthetic menace, Chinn is expecting unely assistance fare being taken which will increase
MACARTHUR'S NOTABLE In spite of strong local opposition from the United States to help her the
of the Colony. productivity out of her present difficulties but
Du Several new cotton mills are being ancome Tax Bill was put Into whatever the aid may be, even after erected or planned and before the main grounds of opposition was the opened three offices in Japan in the prosperity may exist in Hongko
effect on January 1 last. One of the
I have already mentioned that we We must not forget that whatever settling her political troubles, Chinaend of this year it is expected that apparent extravagance lu Govern- will have much reconstruction and
and over 50,000 spindles will be installed. ment Departments which still course of the past year.
Our ultimately and essentially its future development to undertake by her There has also been
Manager in Tokyo in trying to get is indissolubly bound up with China: progress in mains a sore point with the mer-
advantage own efforts for many years to come other
these offices functioning on a pro-it is a case of inutual directions and shles of in-
In-chant community. and the help sho receives will neustrial power
ver by the Electric Light I paid visit to Singapore last per basis has probably experienced and it seems elementary therefore,
more difficult time
mos! than
that each should help the other in wasted if it does not enable her to Companies are expected before long August and,
with our Manager, complete permanent arrangements
bankers do in the course of their all possible ways. exceed their pre-war maximum, Mr C. L. Edwards, toured Malaya career. While little normal banking for stabilising her ecomony.
all of which should improve the and inspected our Omflees has been possible our offices financial status of the Colony. throughout the country. I returned nevertheless proved of service
FOREIGN DEBTS
Lo
NEED FOR AN AIRPORT
kari-
with
about
On
office.
re-
It seems
WORK
have
to
STRIFE AND CHAOS
common
I
ZBW PROGRAMME
"As far as Rumania is concerned,
H.K.T. to avail myself of the first
Soily personally to confirm the
បទ
6. Studio: Children's Half Hour, B.3.C. Trouts facts
Transcription Service: "Tammy they happened.
Polar Expedition" by Lavinia Derwent: 1947, Petru Grozn and Gheorghiu Londen Holy Warket for its variety "On the morning of December 30, 6.30, Studio: Portuguese Half Tour: 7 Dej, members of the Rumanian 3.15, Studio: "You Asked 1,
Request Programme presented by Lynn Cabinet, presented to me the text of Frazer: 8.13. Vlatin and Orchestra: 0.30, the act of abdication, urging me to The Now Orchenira presents “Melodier sign it at once.
New: B. London Relay: News: 9.10. Weather Report; 0.11, B.B.C. Transcription Service: Braina Trust. No. 5. Questions Palace Surrounded
Master: Donald McCullough; 959, Inter-
"Dido and "Both of them came to the Royal lude; 15, Purcell's Opera Palace after it had been surrounded Accs With Artister Including Isobei. Halllic, Joan Hammond, Gladys Ripley, detachments, by armed
informint Dennis Noble. with Chorum and Phil- that
they would hold meharmonis String Orchestra conducted by responsible for the bloodshed which Constant Lambert.
Ord.: 11. Close Down. would follow as a consequence of issued by the instructions already them in
case I should not sign within the time limit.
me
This net was imposed to me by force, by u government installed and maintained in power by a foreign country, a government utterly un- of the representative of the wil Rumanian people."
Violated Pledges
Harpalchord: Boris
A Wealth Of Entertainment And Information
Presenting the FIFTH FROGRAMME of the New Series THIS WEEK AT THE.
KING'S THEATRE ·
Malsited By arrangement with International
had violated "This Government International pledges binding thein lo-respect the political freedom of the Rumanian people, had the elections and annihilated the mocratic political leaders who CB-
the confidence of the
of the country. monarchy The removal of the consiliutes a new act of violence in the polley of the enslavement Rumania. In these conditions I do not consider myself bound, way, by this act imposed upon me.
with
In unshaken faith future, animated by the same devo- tion and will to work, I will con- tinue to serve the Rumanian people with whom my destiny is inexorably bound."-Associated Press.
British Statement
01
in any
our
"We also recalled that he was one of the rare recipients of the Soviet Order of Victory. That is still our only comment."
The Rumanin Legation declined to comment.
Films and Government Public Relations Office MORNING SHOWS SATURDAY 6th MARCH
1.-
10.30 am 11.45 am,
SUNDAY 7th MARCH
1. COLOURED CARTOON.
2. LATEST PATHE NEWSREEL.
3. MALAYAN, NEWSREEL-
Singapore Actualilles.
4. LET'S
5.
SEE
TECHNI- COLOUR: Something out of the ordinary,
ST. PAUL'S—An Action ple- ture: See
Survival.
the bombing and
5. COLOURED CARTOON. (in MANDARIN DIALOGUE but (it tells Its story in any language. THREE SHOWS EACH MORNING ADMISSION TO ALL SEATS ONE DOLLAR
An authoritative. Rumanian source Printed and published by FREDERICK sald, however, that Michael's abdien- PERCY FRANKLIN for and on behalf of tion was in accord with the will of South China Morning Post Limited the Rumanian people.-Associated at 1-3, Wyndham Street, City of Press,
Victoria in the Colony of Hongkong.
Organised by the Women's Auxiliary of the H.K.S.P.C.
GALA PREMIERE
The British Foreign Ofce said of Michuel's statement; "At the Ume he left the throne, we recalled that he a strong feeling of optimisin visiting business men as well as to Japan, China has had good friends. to release Rumania from the Fascist
Since the end of the war against i bud played a great part in helping) • Once again I must refer to the
the future of the Peninsula. the British Occupation Forces. matter of China's foreign debts the
November 22 Die foundation
To her, continuously, has been given yoke. importance of which is sometimes The expansion we have seen in stone of a new office in Orchard
clear that General from the limited remaining re- overlooked In China and in America 1947 in the use of Hongkong as a Road, Singapore, was laid by Mrs MacArthur has accomplished a sources of Britain, and in full mèn- but not in London. China's credit civil aviation centre should in due Malcolm MacDonald, the wife of the notable task since the occupation of sure, from the maleslie might of In the eyes of the investor will re-
to be another
Governor General. The building has Japan prove
America. Supplies of all kinds main
In poor standing until her course
portant development but this cannot been named MacDonald use and external debt record is put straight.
bave poured in: everything that can Unfortunately trading has been be devised progress much further without the in addition to providing for the
by these two nations The Moratorium on pre-war foreign establishment here of an up-to-date convenience of the public in a part animost entirely on a Government to s been done to help her recover
པ་ loan service payments which was an airport which unfortunately has not of Sinempore which has not hitherin Government basis but there are in-from her terrible years of tribulu- nounced by the Chinese Government yet been approved by the Authori- been served by the Bank it will dicasions that in future
it will be tion.
dimeult direct results are The In January 1930 is sill in force but ties at home although it is surely relieve the congestion at ur main gradually directed Into the
more to ascertain, but unhappily and be- on August 13 last on Important omelni
a project which deserves important
normal commercial channels.
yond doubt China still remains in statement was
Our Staff in Singapore and Malaya Issued re-affirming China's intention to repay the priority In these days of air travel.have been working with great energy |
strife, and her economy in chaos. ex-'Our barbour
It is widely held that the main and ship-repairing
pecullar ternal loans and categorically stating facilities are unequalled in the East well year and you can be obstacle to rehabilitation in Japan isoare test any late that the conclusion of new loans la and bring
useful
well satisfied with the way in which the uncertainty that exists regarding to China. In many lands hardship revenue to the recent years did not in any way pre- Colony and it is regrettable that so grossing in those territories,
Mour organisation has been
pro the Peace Conference and it cer- and suffering remain the
us Vlow the balance Judice the security of the pre-war far little has been done to encou
encourage
tainly appears to be desirable on all lot; but let
steady eye, loans nor vitiate the rights of the air services to come to Hongkong. BRITISH NORTH' BORNEO
practical grounds that the terms of sheet of the world with
two items, at bondholders thereof.
the Peace Treaty should be agreed let us not overlook We expressed satisfaction last year This
least, on the credit side; the noble was a A carefully considered
with the foreign trade returns which statement, which, in addition to being in 1946 totalled about one thousand re-occupation we have been paying
You will have noted that since the upon without further uniue delay. concept of the Marshall plan, and Issued.
In conclusion, Ladies and Gentle- the inherent genius of the British municated to the Chairman of the
hundred million dollars but in particular attention to British North men, I must confess that, although people, shining ever brighter amidst Chinese Bondholders Committee in the
the figures
to two Borneo and adjacent areas where we we have had a good year and have their seemingly endless problems. London by the Ministry of Finance, thousand seven hundred and sixty now have five ofices established. I But It
Although few will disagree with which was 62% more want to express our appreciation of started off well in 1948, ono cannot can hardly be satisfactory to thon the previous year and
services
avold a feeling of anxiety on looking the opinions we have heard today nearly the
rendered to lis pre-war bondholders that in
by
across at that great country, China. spite of
Crossfeld by &
that almost all Governments under- this statement, interest and amortisa-for the higher prices prevailing at first acting as our Agents at Jesselton
24 times more than 1938. Allowing Messrs Harrisons tion payments on war-thing and part-the present time, it will probably be and Sandakan and then giving us Dr Sun Yat-sen has often been estimated the extent of the disaster
valuable
quoted
bitterly that of total war, I think there are signs stating assistance in establishing the old Chinese dogma our own offices there and elsewhere. lodge is easy,
"Know-of brighter days, I, myself, belleve They all-remain
nction is dificult" that in the British Commonwealth, our Agents in Labuan.
made it murd to put into
the United States of America, In at this moment be paid out of the COLONY SURPLUS FORECAST
in foreign exchange resources of the
British North Borneo and Brune!
tice
proposals which Chinese whole-every man of good will of all nations Government, while no move has been
design, there is an in- The accounts of the Colony are ex-loped countries. Rubber,
have hitherto been largely undeve heartedly supported in theory. I can there is a
purpose to create made to pay even Interest on the pected to show a welcome surplus of and timber have been to date the Just as Dr Sun Yat-sen eventually better
coconut only say that I fervently hope that flexible
world from
rubble carller loans of the Chinese Govern between 25 and 30 million dollars main projects, while hemp. growing succeeded in obtaining much of what and ruins of. the old, and, ment secured on a spezified security for the current year as oruinst a Buch as the Customs revenue, which defeit in 1948 of 34 millions but and the development of fishery and he desired so now a solution will in the language
plan and build canning Industries in tine now once again become one of in the year 1948/9 Government ex- trets had been cate certain, die China's peopics may in the words of in justice, in tradition and in free-
quickly be found in order that all est sources of penditures will be heavier mainly as
of many As Japanese. These in result of the recommendations of are now being prospected with a lives in freedom
manaloar Intter industries the Atlantic Charter "live out their stom, a house
from fear and where there will be room for all," I may say that unfortunately the the Hongkang Salaries Commission. Chinese railways are in
view to continuation and extension. want."
in this plan, I have no doubt, this much the The Bfty million dollars 34% There are also. samo state as when I spoke about Loan floated recently, although fully mineral wealth which are now being possibilities of
great Banking Corporation, with all them last year. North of the Yangtza subscribed,
As for your Bạnk I feel that not- its resources,, and with all its in- was not taken the position in deplorable owing to small subscribers in the proportion [duetion is increasing steadily.
up by explored, while in Brunel oll pro withstanding the uncertainties of the Luence in so many lands will march I futuro wo have a strong organisation towardt, taking its share to the full.
פון
also
com-
seven
1047
millions
came
war loans (for example those made found that we are still some way off in the past two years by the Export- the pre-war volume of trade. Import Bank of Washington) should
most important
revenue.
03
proc-
man,
"TO
of our great-
PERFORMANCE
of
CARNEGIE HALL
(by kind permission of UNITED ARTISTS and
The Management, Lee Theatre)"
at the
LEE THEATRE
on
MARCH 23 at 9.20 p.m. Under the distinguished patronage of'
•H.E. The Governor & Lady Grantham.
PROCEEDS TO THE SOCIETY OF PROTECTION OF CHILDREN Tickets now on Sale at:
MOUTRIE & CO., York Building
1