1920-07-06 — Page 8

Sleep in Comfort!

You'll never have your slumbers disturbed by uncomfortable pyjamas if you choose our full cut and roomy sleeping suits.

They are made of cool thin absorbent fabric that lets the, air through, and we stock them. in either the short or full length styles.

All Sizes in Stock

SHORT SLEEVES KNEE LENGTH $3.75 PLR Scrt.

34 to 46

Chest

LONG SLEEVES FULL LENGTH $400 PER SUIT.

MACKINTOSH

& CO. LTD.

Men's Wear Specialists.

16, Des Voeux Road,

AMERICAN FINANCIAL

LETTER.

THE GENERAL SITUATION.

Telephone 29.

The merchants, even the best of them, have been hard-driven, for

money".

21

THE CHINA MAIL.

the carry over hom last year's pack - EARLIER TELEGRAMS. Pis reported to be quite heavy.

(Reuter Service to the China Mall.)

CLOSER CO-OPERATION BETWEET CHINA AND TREATY POWERS. --

MANSLAUGHTER CHARGE

CASE OPENED THIS ATTER- XOON.

POLICE COURT PROCEDISCS, Before Mr. R. O. Hutchison at the. Magistracy this afternoon, the-hear! ing was begun in the case in which Mr. W. J. Williams, of No. 55 Ken nasty, Read, was charged (1) with

The prediction made in a letter issued by this bank some few months ago, that America would have very little, if any, surplus wheat for ex- port in 1920, appears to be earning true. Decressed acreage of both win- ter and spring wheat, coupled with

LONDON, July 3rd. - unfavourable weather and distressing Sir John Jordan and Mr. E. I. For, labour conditions, will result in the

C.A.G., addressed the members of the Far lowest wheat yield kir several years. Eastern Section of the Chamber of Com Constantly increasing labour difficul-merce and the China Association as the causing gritous bedily harm to a ties are seriously curtailing all other London Chamber of Commerce. The meet Chinese detective, and (2) mans grain crops. The acreage to potatoes ing suggested closer co-operation between laughter. is light. The price of seed had much China and the Treaty Powers generally 20 do with decreased potato planting with the object of developing trade ind The corn crop will show a diminished commerce on mutually advantageous line acreage, as will also oats and rye.

It is not yet known what the cotton acreage will be. In the south, labour shortage is very acute. Thousands of negroes who went to the northern cities during the war have not retur ed. There are none to take their places. It America is to feed her own people, there must be a back-ro- the-farm movement from the cities, or 2. supply of farm labour must be brought igro the country from some outside source. The universal use of tractors, and of other labour-saving

de

LOAN TO SOUTH RUSSIA FROM HONGKONG

SAN FRANCISCO, July 3rd. A shipment of gold of $8,500,000 co signed to Messe. Morgan's has arrived from Hongkong.

Is is understood to be a part of the balance of loan to Senth Russia by American and British bankers.

FRENCH AIRCRAFT ENTERPRISE

IN CHINA

Mr. A. H. King, A. S P prosecuted, Mr. Nash pleaded not guilty on and Mr. F. E. Nash defended.

behalf of his client.

Mr. King said that in this case it was admitted that the constable met his death from a mistaken conception on the part of the defendant, but it was not admitted that in fring the rifle the defendant had any legal sanction or reasonable provocation. For some time past, numerous busi glaries or attempted burgiaries had been perpetrated in the Wars chai district. At 11 pm on the 3rd, the deceased, who was a uniformed constable, was sent out in plain clothes with a detec tive on special patrol with instruc tions to watch suspected places along Kennedy Road for burglars or other

PARIS, July 3rd. The Government announces that it reads to aid French aircraft constructors in China and originally intended for suspicious characters. At 11.40, they in China by selling them the material Dow

Russia.

LIBERTY BONDS.

terrace on which

An

one

It takes several times more machinery, has helped out, but cannot capital to do the same amount of busi-make up entirely for the extreme ress now than it did a few years ago. Labour shortage which the country's Many manufacturing concerns, demand now suffering from.

Many thousands of tons of beans

Two French companies, the Economic reached the payment in advance on booking or

was the Erst terrace ders. The purchaser must take his and rice are being imported to Organisation Bureau and the Compagnie the defendant's house was situated,

to the left of the road as LOS ANGELES, Cal., May 15.

No sibility of sending representatives The fifth month of the year opened chances on deliveries. A certain grade America which will come, into direa Franco Colombienne, are studying the po It

China Two her firms are contemplating proceeded from the Naval Hospital. with a right money market. quite an of canvas, used in making fumigat-competition with our products.

There were 16 steps leading to the active speculative movement, depressing tents for use in orange orchards, extension of the beer acreage sale of machines to Chinese enterprises Azigzag path led up to the terrace. When front door of each house. ed foreign exchange rates, quieter real formerly cost $3,000.00 per car. A expected in America, under present

they reached the terrace, the two estate trade, marked activity in many short time ago the price had advanced unlavourable labour conditions. It is

examined the side and back of the lines of business and manufacturing, to $40,000.00 a car, and recently the costing ten and twelve dollars per

first house on the east side of the and generally, higher commodity price has been fixed at $46,000.00 acre, in Los Angeles County, to ten

terace The defendant's was the prices.

The iron and steel industries per car, payable when the goods are the growing beets.

This is but a sample of THE PRESIDENTIAL CAMPAIGN.

second house. Mr, King said he might are still driven to the limit on uncom-ordered,-.

As yet there is but little interest

mention here as it had some bearing pleted business, while new orders are prevailing prices. Agricultural imple

Both were seriously ments have increased in price several taken in the coming presidential elec-

on the case, that on June 16 a pane still rolling in.

At the primary held in this

of glass in the front door of defen- crippled by the recent strike of cer- hundred per cent. Clothing, boots andįtion.

dant's house was broken, evidently shoes, hats, in fact, all wearing ap state on May 4 less than one-half of

break into in an tain classes of railroad labour.

attempt to the house. After examining The enormous cost of building is parel. has long been on, the ascend the registered voters of the state took

the first house

detective. the having is effect on new construction, ing side of the ladder, and the end is the trouble to vote. Equal indifer- The con- not in sight. In connection with the ence prevailed in nearly every state

proceeded along the whole front of which shows less activity. struction cost of business property has high prices of shoes, the fact must which had a primary election doubled in six months and is becom- not be overlooked that we have here- looks as if the great mass of the people The demand for toiore drawn very heavily on Russia are willing to let the politicians elect ing prohibitive. dwellings is resulting in the erection for hides, and are now getting none. their rulers. This is to be regretted. of an extremely poor class of build-comparatively speaking, from that Under our system of government the majority rules,, but if the people will ings, which will long be an eye-sore source.

We are living on a higher financial not vote, then a majority of the minor- "to the public. But people must have hapitations and must also build within plane than we have ever before ex-ity rules, and we have abbreviated perienced. How we are to get out of popular government. As a rule, when the clouds, and back to the earth, no it comes to the actual election in a one has yet ventured a prediction. As presidential year, the vote cast as this letter goes to print, the disptaches sumes very formidable proportions: announce that a leading Eastern de- More interest, however, should be dis- partment store has cut its prices, on played in selecting than in electing many things sold by it, twenty per candidates. cent. Its example is being followed by its competitors. Here, at last, is

their means.

The strikes of the railroad crews, "disrupted the movement and distribu- tion of freight during nearly all of Thousands of skilled work April. men, in many industries, were thrown out of employment thereby, business was disrupted, and the financial loss to shippers, consumers. employers and wage-earners was enormous. Locally, a ray of hope for consumers. the strike caused a complete suspen- sion of orange shipments. Many car

OUR FOREIGN TRADE: We probably get the worst reports Toads of oranges, caught at way stations as to conditions in Europe. Without

table shipments were also held up.

come to us.

We do not get any speci

1t

A national election always unsettles It is to be business to some extern. hoped that as soon as the election is over people will have learned during sued by the successful candidate For the campaign what policy will be pur-

Many people cannot understand why Liberty Bonds should recede in price. The reason is plain and an economic one. During the war the interest rate on Liberty Botes was fixed at an abnormally low figure, Interest rates generally were kept down by the government by artificial means. The ablest bankers in America plead with the Secretary of the Treasury to Ex a higher rate of interest on si hiberty bond issues. This advice was ignored. When the war ended, and great com- mercial activity set in which called for large capital investments, the Federal Reserve Bank was compelled to cali a halt in the continued issuance of Federal Reserte Notes in large quan- tities, and interest rates immediately advanced. Cheap money makes high- Conversely, high in- priced bonds.

terest rates make bonds scb at a re- duced figure. The returns from a bond investment must bring the cur rent interest rate to make the boed interest rates auractive. Hence, advance, the selling price of boods bearing a Tow interest rate inmediate- ly falls.

without icing facilities, were either doubt. conditions there are deploy the presidency and that they will then wholly lost or badly damaged. Vere able. but all of the sensational Framers serie down and help work out thei The loss of receipts from oranges for fic report on the sober industrialism of serious problems confronting the are both numerous and important. If a month seriously interfered with the country, which mask, to some ex-American people. These problems operations of banks in orange-growing tent, be moving along. That our ex-

duction in the expenses of govern; districts. Shortly, the Imperial Valley ports to Europe are still large, and the successful presidential candidate melon crop will be ready for move-our imports therefrom constantly in. will announce that he stands for a re- ment. The cars necessary to handle creasing, proves that these people are the melons will be withdrawn from the able to purchase from us and also toment, and for strict economy in all orange trade. Thus orange shipments: ship us commodines. Some of them government affairs, and, when in- ment, he will do much towards restor already one month behind normal con- must be producing, must be finding ugurated, lives up to his announce-

themselves. ditions, will be extended, by car short-

England, aided by her merchanting confidence and inspiring the public age, und Christmas, even if no other

marine, is reaping a great harvest as with the thought that it will pay it hands is enormous.

to exert itself, with renewed energy, railroad strikes intervene.

the leading carrier of the world. Through her sea-power she is enabled in conducting the many enterprises

now engaging its attention.

FINANCIAL SITUATION.

رل

-

LABOUR UNREST.

it is

Not-

The money pressure is confined toto barter with those nations without the commercial banks of the country. shipping facilities, and she gets paid

The At no time in the history of America The demands upon thein for legitimate for freight going and coming. business, purposes are very large. selling price of our commodities is so has labour received as high wages for The savings banks, as a rule, have high that it militates against a larger as short hours of employment had a surplus of funds, in fact, they volume of exports from Amefice. But receiving at the present time. have been the principal buyers of while price of raw material and cost withstanding this fact, great unrest commercial paper throughout 1920.

While interest rates are high, there of manufacturing remain where they prevails in labour circles. This prob seems to be an abundance of capital/ Bow are, we cannot sell for a lesser ably results from the baleful in£uencés

Pre-Price. seeking long time investment. ferred stocks of prosperous growing concerns and bord issues floated by commercial and manufacturing enter prises, besides bonds of municipali- ties, running into millions, are readily absorbed by the investing public. Sane

The decline in foreign exchange is

of the war, and will take time and a

change in present economic conditions

to alleviste.

a serious factor in connection with our foreign trade. To buy our goods

Universal extravagance prevails. It Europe must pay our prices therefor, is not confined to any one element of and lose money in exchange, which society. It seems to be in the air, a loss simply adds to the cost of goods spreading epidemic. This craze will

To the extent to eventually wear itself out. bought from us. one is making all of the liberty and vic which England can furnish commodi tory bonds which are offered,

ties, to control Europe, she has

1 is

States, in exchange rates.

CROP PROSPECTS.

A slack-

ing up of general activities, so that unemployment occurs, will, without doubt, bring a change in the present independent attitude of labour, and also curb the present tendency to

not likely that all of the money or superior advantage over the United even a great part of it, used in these inrestments, is being borrowed. If i were, there would be an expansion

The rains in March materially spend indiscriminately. No one wants It is of our loans far beyond anything that

changed the crop outlook in Cali- to see such a condition arise. is occurring.

Taxes consumed large sums which tornia. Unless unfavourable drying better for the country if ah of her could otherwise be used for capital winds ser in, the hay and grain crop people can be constantly employed, purposes and business expansion. will be much larger than was expect. If people would again acquire the sav According to a bullerin recently issued ed.. The outlook for the fruit crop ising habit which they exercised during In some sections the war, conditions for everybody by the Chamber of Commerce of the not encouraging. United States, in the past two and both fruit and nuts were seriously in-would be better.

Employers universally complain of The employee one-half years the 'Bureau of Internal jured in March by rains and frost. Revenue had collected taxes amount Prospective prices for peaches and labour inefficiency. ing to $11,481,109,198.17, which apricots, in the raw state, are being does not seem to take any interest în With his work. Clerks are indifferent to the very nearly equalled the collections quoted at $133.00 per ton.

for 55 previous years of the Bureau's sugar better than $20.00 per hundred wants of customers. Shortening the existence. In 1919 the total collec wholesale, and labour receiving its hours of employment, it was supposed, tions by the Bureau for the year present compensation, what will the would add to labour's efficiency, but amolinted to $3,850,150,078.56: The price of canned goods be? Buyers of the reverse seems to be the result, kost of collecting the same amounted canned goods are not in evidence as Household help has almost wholly

they were at this time last year, and disappeared, to over $20,000,000.00,

Thousands of individuals and cor- from patriotic porations having, motives, bought larger amounts of Liberty and Victory Bonds than they could have paid for in ten years out of their surplus earnings, borrowed money on these bands to carry them. When interest, rates advanced, and they were compelled to pay six or seven per cent. per annum interest to carry a per cent.. 41 per cent. or 4 per cent. bond, they sold their bands. pocketed the loss and nursed The amount of their resegument. bonds which has already changed People with money to invest buy all that are offer- ed at present rates. They are, secar- ing a perfectly sale 5 per cent. or 6 per cent, investment and, in time, wil make a handsome profit on their purchases: Should business activities slack up, and demand for money be- come less active than at present, in- terest rates will drop and the price of Liberty bonds will again advance.

ONE CAUSE OF HIGH PRICES.

When one stops to consider that, in the month of January, 1906, the total exports from the United States, of crude materials, foodstuffs and manufactured articles, amounted to but $170.603.053.00; that in Janu- ary, 1919, the total exports of the same articles amounted to 5622,674,083.00. and in January, 1920, to $730,707,863.00, and in March to approximately $820,000,000, one very large reason is immediately apparent for the preseur high prices.

-The immense activity necessary to gather together, in merchantable shape, the tonnage which make up these shipments, stimulates business

"DON'T NEGLECT YOUR FAMILY.

THEN you fail to provide your. Wamily with a bottle of Chamber lato's Colic and Diarrben Emedy at this sewn of the yea", you are pegi ct ing them, as bowel complaint is sure to be prvalent, and it is too dangerous a pecially true if there are children in the malarly to be trifled with. This is g

will place the trouble within control d amily: A dose, or 120d this recedy perhaps save a He, or at least a doctor's hill For sale by all Chemists and Store- keepers

TESDAYJULY,

NOTICES.

DAIRY FARM NEWS.

FROZEN SMOKED FISH

New shipment ex S.S. “Cardiganshire

SELECTED FILLETS FINNAN HADDOCKS SELECTED KIPPERS RED HERRINGS

60 cents per Ib.

50

40

30

GOUDA CHEESE DIRECT FROM HOLLAND. 85 cents per pound.

THE DAIRY FARM, ICE & COLD STORAGE Co., Ltd.

WHITEAWAY'S

FAR-FAMED

India Gauze Underwear

Our "India Gaure" Cotton underwear i knows all over the East. It light and cool but porous and durable. Absorbe perspication and prevents chills. All the numbers on offer are made specially for us and are not obtainable elsewhere. We hold large atosk and the prices are exceedingly low.

QUALITY III

Fests with button fronts and short sleeves: Our Loading value ** where a really sool, comfortable and unexpensive rest is required.

Sizes:

32

34

38 $6

42 40.

46

48

20

the terrace, while the deceased $175, 19.25 12.75 18.50 13.75 14.25 14.75 15.26 15.75 16.50

mained at the east end. When the detective returned, both men ascend- ed to, the fourth step of the sat defendant's house and

the on the detective there, West side and the deceased on the east side: In this position they were screened from view by the wall: which flanked the steps, except of After a course dead in front.

few minutes they heard a slight noise two doors away from the defendant's house. The deceased, got up and went down the steps to the path. As be reached the path, with out any warning or word of challenge, a. shot was fired and be fell to the ground at the bottom of the steps. The detective then jumped up and called out in English and Chinese “ I am a policeman." In fact the evì- dence would be that both men called out when the shot was fired. The shot was fired through one of the smaller panes of glass in the lower The defendant part of the door. came out and on realising what he had done rendered first aid to the injured He called in medical help and the Police. Inspector Kent went to the house and removed the deceased to the Government Civil Hospital where he died on the following after- Doon. There was no doubt as to the defendant's attitude after the secident. The defendant was a member of the Dockyard Recreation Club and as in its shooting team. That explained the possession of the rifle..

13.11.

The case is proceeding.

of every kind. The withdrawal of the goods represented by these exports. Froid home consumption, creates not only a scarcity but almost a vacuum. When the war began, and our exports fargely increased, people were in great ecstacy over the same and thought that increased prosperity for the United States would result there- Irom Prosperity andoubtedly has come, but with it ever-increasing prices which consume, for the personal uses of our people, a large portion of profits realized from our export busi-:

ness.

CONCLUSIONS.

In order to deflate our present in- flation without bringing calamity to the country, it is necessary:"

1st. That the banks of the nation, Large and small, positively refuse to make any loans of a specijativėj

nature.

2nd. That the farmers of the pation

be furnished with sufficient reliable

help, at reasonable prices, to carry on their operations, even if this help must be imported.

3rd. Ther the nation and all of its subdivisions, all of its officers, agents and employes, and all of the people making up our population, save and practise strict ecocomy-FARMERS & MERCHANTS NATIONAL BANK.

No. 222, Style as above, Slightly heavier.

34

$8

daa

" *46 i chus 4069 38 Bios: $2

$14 50 15.25 15.75 16.25 16.75 17.25.17.75 18.2 doz. No. 440. Style as above but Superior Quality.

Slen

34 38 $2

8%

*40

44 42.

trala

$15.50, 16.25, 16.75, 17.25, 17.75, 1825, 18.75 dor.

QUALITY * 830 Splendid quality Indian Gaure Vests with ventilated Gossst. Cool and somfortable. Sizes: 32

40 inches

·46 38 40 $6 34 $15 25 15.75 18.25 16.75 17.95 17.75 18,85 18.75 18.75 dos......

*.322 QUALITY English made Pure white India Game Buttonler Fronts, An exsellent vest for washing and waar.

48 50 inches 46 42 44 34

38 40 $15.95 15.75 16.75 17.25 17.75 18.25 18.75 19.35 19.75 dos. Size 32

No. J

Short India Ganze Drawers.

134

38

40 38

42 inches waist.

$1.30 $1.30 $1.30 $1.50 $150 $1.50 a pair.

We own confidently recommend any of the shore lines to anyone wanting a light, cool and absorbent underwear. Non irritable.

WHITEAWAY, LAIDLAW & CO., LTD.

20, Des Voux Road Central, Hongkong. (Incorporated in England).

JUST THE ARTIOLE

for your

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TYPEWRITER.

Tel No. 1186,