1920-12-31 — Page 2

LAMMERT BROS.

DOMONERS, APPRAISERS

AND SURVEYORS

Public Auctions-

FOR SALE

INTIMATIONS

YOU CANNOT AFFORD TO

BE WITHOUT THEM.

JUST received a large Consignment of (1) LACTOGEN the most digestire food for Infants which keeps good in quality during Hot weather (e) LAC TOSE (Wilk Sugar) for sweetening the foods of Infants and Dyspeptica (3) MILFORD MCGRATH FLUID INSEC TICIDE the Best Fluid for destroying

MILNER'S SAFES Fleas, Mosquitoes, Bags, Flies and all

Apply to

LAMMERT BROS.,

Daddell Street.

other Insect Pests in Summer days, and (4) JOHN CARLL'S GOLDEN FLEECE, MAGIC and CINDERELLA SOAPS for keeping everything cleanin Houses,

PRICES are Very Moderate. Ins pection and Enquiries are cordially invited

SHIU FUNG TAI & CO.,

Sola Agents for:Hongkong and South Chin

Xon. 67 313, Connaught Road Central, Bugtong- Telephone Nos. 1st:

理代泰联

Postage Stamp

Catalogues

of

Latest Issue

THE CHINA MAIL.

"CAPSTAN

MEDIUM STRENGTH

"CAPSTAN

Navy Cut

Cigarettes.

*CAPSTA

Cut

Navy Cigarettes

Navy Cut Cigarettes

"CAPSTAN dobacco for the Pipe

FRIDAY, DECEMBER 31,

NOTICES.

G. FALCONER & CO., LTD. WATCHMAKERS & JEWELLERS.

Hotel Mansiónı

"Agenta for—ADMIRALTY CHARTS,

́ROSS'S BINOCULARS and TELESCOPES, KELVIN'S NAUTICAL INSTRUMENTS, BENSON'S ENGLISH WATCHES,

« ENGLISH SILVERWARE, direct from Manufacture

High Class English Jewellery,”

FURNITURE.

CONTRACTS SOLICITED FOX HOUSES, OFFICES, HOTELA & SHIPE

BRASS AND IRON BEDSTEADS, UPHOLSTERY. ELECTRO PLATED WARE, GLASSWARE, CROCKERY: HIGH-CLASS TEAKWOOD & BLACK WOOD FURNITURE.

CHEONG LEE &. CO.

The No. 801: GABLE ANDRIS ** CHEONGLKETM

· Erad Oyrich, 88, QUIES'S ROAD CENTRÁL A.RC. Cone Bra Edzas,

ASTANTANEOUS WATER HEATERS

-For. Gas and Oil Unlimited Hot Water.

C.E. WARREN & CO., LTD" 06-30 & 31 Des Tax Rond Centrs.

Established 1900

THE CLEANING OF SUMMER FROCKS is an important matter and we make a speciality of "refinishing" light Frocks and Costumes so that they keep clean longer than when treated by ordinary *methods.

Our processes are thorough and reliable. Our facilities and re- sources enable us to carry out all work quickly and our charges ace really reasonable.

Write for Prics List and See!

The Diamond Dyeing and

Drycleaning Co. Agent

CASSUM AHMED,

# General Draper

2&34 Wallington Street.

Branch 28, Nathan Road, Kowłocz

'Phone, 1462

MASSAGE,

MP. HONDA. and Mrs. HONDA.

Trained male Masseur. 13 years' experience. Formerly of Tokyo Military Hospital WILL VISTT. PATIENTS RESIDEN URS IF FEEFERRED No. 24. Wyndhan: Street. (Opposite to the China Mail)

MUMEY A.

Japanese Photographers. >Wa have removed our Premises to

No. 36, Queen's Road, C.

Sitting hours from 9 am to 9 p.m. Passport photos finished

in one hour.

614

#

PALACE MOTOR Co., Ltd.

Photo Central

Western Branch 3143 Kowloon Branch K337

Hew Cars For Hire" & For Sale.

Private Cara panged.

Repairing Cars & Speciality.

MOHIDEEN & CO.

JEWELLERS.

40 Queen's Road Cent

shortly rem

Cen-

Scott Stamp & Coin Co Trert et Tellier Champion.

GRACA & CO.,

DEALERS IN POSTAGE STAMPS, GARDEN Serve. Tors, FOST CARDS, &C. No. 18. Wyndham Street, 2.0. Bar 670.

Hongkong.

10 CIGARETTES & MOUTHPIECES.

frame

Stanley Gibbons, 1st & 2nd Parts,

THE

STANDARD OF QUALITY

AND

THE CIGARETTE FOR THE

CONNOISSEUR,

Sold by all Tobacconists

PHOTO SUPPLIES.

LONG HING & CO., Xoals and Bodas Fle

DEVELOPING & PRINTING A SPECIALFTY.

No. 171, Ques's ROAD. CESTRAL, HONGKONG.

HOTELS AND CAFES.

THE HONGKONG HOTEL CO., LTD.

OPERATING:-

THE HONGKONG HOTEL,

HOTEL MANSIONS,

THE REPULSE BAY HOTEL,

AND THE

HONGKONG HOTEL GARAGE.

J. E. TAGGART,

„MAZAIR",

JAPANESE MAKERS.

Every kind of Footwear.

MADE

TO

ORDER

CHERRY & CO.,

PEDDER STREET, Opposite Hongkong Hotel

Telephone No. 49%

Hongkong, March 23, 1914.

MASSAGE HALL

Graduate from Sagunaki Namage School. Mrs. HAN INOKUCHI

Phone No. 16,

96. Stanley Street,

THE KŹW FRENCH REMEDY.

THERAPION NË 1 THERAPION NË,2 THERAPION N0.3

"No. 1 Sər matter Ofisera. "Ka. 7 for Blood 2: Box: Emas 3o. 1 for (Rivic WaKLOGZIMA BOLDATZ BADENOCHEVIETE, PRICE IN YNGLAND AN DELEGLELOKAL GAMESWETROCIKE 2 WAL

SEX TRADE KAKERD WORD 'THIMATSRm 15_00 WELL WINT, JEANS APVIENO Z GRAUENTE FACEDIS:

ASAHI BEER.

PILSENER BEER

GRAND PRIZ

3PAR BRSTAAN EXHORT

FASANIBE

NIPPONE

ASA

LAGER

SPECIALTY

REWERY GO

PISEMER

ASAHI

||

BEER

This Advertisement in imibed by British-American Tobacco Oo (China) Ltd.

FOREIGN EXCHANGE.

LONDON AND NEW YORK..

VIEVES OF. AN AUTHORITY,

THE PEAK HOTEL.

Under the i

BLAIR.

KING EDWARD HOTEL

CENTRAL LOCATION

LL ELECTRIC TRAMS Pam Kotrance, Riestrie Idita. Fans and Lighting European Baths and Sanitary Fittings, Hot and Cold Water BysbeZZ throughout. Best of Food and Service.

*Talephons 375.. Telegraphie Addre2 VICTORIA."

'J. WITCHRABI, Manager,

son, junior, in the October bulletinverted into dollars to pay for dur of the Chase National Bank of New imports from the States or South York In dealing with the basic America. Hence the increasing dif- cause of bank expansion and tight culty of our position in relation to the money in the United States he finds United States, and since France, Italy, 1,500 Feet above Sea Level. that the one-sided trade with Europe &c., when they, buy goods in the has created a wholt, abnormal situa- States, do so through London and tion, which resulted in Europe owing, pay us in francs or fire for the steri- on Sept. 15, an unfunded debt of overing required to buy dollars for them, $3,500,000,000 to private individuals, it is evident that while depreciating banks, and corporations in the United their own currencies in sterling they States. This is in addition to the at the same time depreciate sterling $10,000,000,000 advanced by the in terms of dollars. United States Government to European For the depreciation of the cur Governments, and in addition to rencies of the European belligerents American investments in European there are other reasons besides the securities. The greatest part of this necessity of imports of food and for unfunded debt has been piled up reconstruction purposes. The bage since the middle of 1919. as the note issues of the State-banks, and United States Government had by their heavy advances to their Govern- that time practically ceased makingments, are important factors, but we advances to finance the export trade. are now mainly concerned with the Since the middle of 1919 virtually dollar exchange as it affects ns. It the whole export balance has gone would seem that the remedy lies in on open account, and so contributed the more liberal granting of long- to the unfunded debt," the increase term loans by the United States, and of which has been accompanied by in increased investment in European a great collapse in foreign exchange securities. It must be remembered rates, and now we have the cop that London has been buying, and frmation, if it were needed, from an continues to buy, Larze Cop- American source of Mr. Good timental holdings of securities with enough's statement concerning the | an international market-Chilian, rate for dollar exchange.

Brazilian, Chinese bonds, & The creation of so great an un- which go to swell our invisible funded debt, says the professor, imports. On the other hand, we appears to be primarily due to the learn from Professor Anderson that, intermediation of London, which has while the New York banks will buy largely assumed financial respon franes or lire from their customers, sibility for the Continent, and which they usually' resell, and will sell has stood between the United States most readily in London as a rule.” and the Continent in the process. The severe depreciation in sterling is London has purchased with sterling therefore anomalous, in his opinion, or with short-term dollar, obligations except upon the theory that London

*

CARLTON HOTEL,

(THE ONLY ASCENICÁN ZOVEEL IN HER VOLGET.).,,.

JOE HOUSE STREET.

Under American Management. Nion and quiet jet only a few minutes walk from the Banks and Central Distziet. 43 Bedrooms,_ _Excellent Cuisines scrupulously clean. Moderate Hums, Monthly and Family Exter· ca application to the Proprietress. Launches mees Passenger Bowls.

MEL. F. E. GAMEBOK, Telegrapáló Addrem "CARLTON"

PALACE HOTEL

KOWLOON.

Referring to recent movements in foreign exchanges, an authority in the Daily Telegraph writes that these movements may, of course, be merely a natural reaction after the recent severe depression, but it would seem to be greatly to the interest of the United States to do what it can to prevent further disorganisation. It is not difficult to understand that the fewer the dollars which the sound sterling will purchase, the greater must be the cost of the goods for which we have to pay in dollars. Similarly, if the French have to give us 58 francs for a £, instead of the normal 25,20f, it is clear that the cost of what they buy from us is more than doubled.

It should be added that while a heavily depreciat ed currency is detrimental because it lowers the foreign purchasing power of a country, it is by no means an unmixed blessing to the country whose currency is at a premiuo, since it is obvious that, if the depreciation goes far enough, a stage is reached, as is the case with Austria, Foland, and Russia, when the countries with depreciated currencies cease to be able to purchase abroad, and the would-be exporting countries lose the former outlets for their goods.

To those who are not closely con- nected with exchange operations it the great bulk of the franc, lire, and is upholding the credit of the Con- and entirely under new management. Oulaine under the personal zupacrizion has been a surprise that, concurrently other Continental exchanges created tinent, which means that "if London of the proprietor. Bar and Billiard Box, Tarma moderata. Special: berita ko with the improvement in our trade in the States, and has in other ways withdrew her support from Confantiles on application to balance, which we are told, is now provided dollars for the use of the tinental exchanges the Continental in our favour after due allowance for Continent. London has also purexchange rates would fall sharply invisible exports, the New York e chased great quantities of goods and sterling would rise abarply. change should have been persistently from the United States and other Such a remedy, however, might moving against us. We know, of parts of the non-European world for prove almost worse than the disease. course, that, apart from private bank cash or on, short credits, which she In the meantime, however, it seems log transactions our Government has resold to the Continent on long pretty clear that tight money in the owes the United States about $4,800 credits, "As a consequence, sterling States can be traced to the bank 000,000, and that we import and exchange has been unduly depressed expansion resulting from the a zrat continue to import, from the jas compared with its intrinsic merits, funded debt of Europe (chiefly States far more than we export while Continental exchange rates. London) to the States, and that the to them, But on the bulk of have been held above the figures expansion of British banks is largely this foreign debt we are not at which they would have reached in due to the growth of the unfunded present paying interest, and the the absence of London's support."; repayment of $250,000,000 on Oct. WORLD'S FINANCIAL CENTRE. 15 might have been expected to bave had a beneficial effect on the exchange. Again, it is known that Americans bave recently been buying but the result is that the major part securities Brazilian, Mexican, of Europe's unfunded debt to the The following incident, which Japanese Chinese, and other bonds United States is concentrated on curred in Singapore recently, deserved to a very substantial extent on the London. We are glad to learn from a larger audience then it actually en London market, which should have a highly competent foreign critic that joyed, says the Malaya Tribune tended to steady the exchange. That London remains, what London has Scene the entrance to a compound it has not done so is undoubtedly due ways been, the great market for in a fashionable local suburb.

Time 1.30 2m

That, Great Britain has done its full share in financing devastated Europe is something to be proud of,

in no small degree to the fact, which international moneys But the post was succinctly stated by the chairton has its limitations, and it is be man of Barclays Bank so long are coming a question how much longer as last January, that the rate for we can continue to finance European change is now really a New countries at our expense. It is true Europe" rate, and not a New that unless we gave long credits to these countries they wonid pet buy

Bollár

· our "goods, and when out

heen admirably

B. M. Ander

to the Continent they do not us with exchanges lost can'

debt of the Continent to Londona situation which is not very pleasant for us

Arricshe stops. A gentleman and

a lady, in evening dress, alight. The man pays, the puller, and passes with the lady through the gate.

Poller (with an idea that he has not been paid enough? Lodge of English, and voice) Ah 1 Naughty mar

(Two minated from Blaz Ferry),

Becently renovated and refumished,, alastic Hight and Fans throughout

Telephone K. 3. Telegraphic Add: "PATAÓK."

J. H OXBERRY, Proj

HOTEL “ASIA”

WEST BUND, CANTON.

Booms en Snite & with private Boof Garden, Hairdressing Saloon,

Excellent Cuisine.

Moderate Rates

Leading Hotel in South China..

Special attention

Under the Foreign

given

Tourists.

THOS. G. HUTCHINGS.

FRENCH LESSONS