1924-02-12 — Page 5

TUESDAY, FEBRUARY 12 1924.

SOUTH CHINA AND ITS PIECE GOODS. WHAT HAS THE FUTURE IN STORE ?

INTERVIEW WITH COTTON EXPERT.

"We can certainly look forward to no cheaper prices for cotton goods for some time; rates have reached is steady basis which will be maatmised for many months," said a cotton expert to a Chiva Mail representative today.

BETTER CLASS GOODS.

THE CHINA MAIL.

RACING GOSSIP.

THE DERBY ANYBODY'S.

BENACHIE REPORTED CROCKED.

· HONGKONG ROPE CO. A CURIOUS CASE."

EXTRAORDINARY GENERAL MONEYLENDER'S MISTAKE.

MEETING.

"This " kaid Mr. Justica

An extraordinary general meet-Gompertz in announcing his Aimoneylending The most discussed topic in the ing of the Hongkong Rope Manu-decision in racing world is the rumour con- facturing Co., Ltd. was held at the action at the Summary Court to cerning the condition of the most offices of Messrs. Shewan Tomes day, "is a very curious case-io fancied of Messrs. Stephen's and & Co. this morning. Mr. R. G. some ways the most curious case Our informant wies referring to, the British cotton industry and be British merchants, bowever, con-Stitt's Derby candidates, Benachie. Shewan presided and supporting that has come before me in sixteen added that the British manufac- tinued the expert, were still doing Up to the end of last week, this him were:-The Hon. Mr. P. H. years"

good third Holyoak, Mr. Allan Cameron, Mr. moneylender named Hakam furers were now sorely regretting business in better class of materials, stable had been a the delay in the development of chiefly manufactured from Egyptian favourite in the ante-post bidding HP. White, members of the singh, who sued Chang Fook,

These were cloths worn by

28 A broker. ja the employ of the Wing which had been mooted some years Chinese whe were able to pay good at the various clubs, mainly on the) Consulting Committee, Mr.described ago, but had locked support ewing prices and these cloths, would always strength of Benachie's perform-F. J. Tavares (Secretary) On Company, for $620, money to the indifference of British manu-(ind a market and would doubtless ances. At last night's call-over at and the following shareholders:tent on a promissory note, in 1922. facturers spinners and merchants always be manufactured in it, one of the clubs, the stable Messrs. H. H. Tayler, G. P.

other countries not being able to

Empire grown cotton, a scheme Turns.

interested in the piece goods truie.

make them so skilfully.

slumped" right out into obscurity. Enquiries among the many

HONGKONO'S POSITION

Inferior qualities of cloth manu-'

men present Hongkong has already keenly felt fnctured in China and Japan were prominent racing the depression, mainly due to the finding . market as a result of the elicited a story that Benachie had high price of raw cotton, consequen slump in the British, export imide. on the short crops. Importers of It is found that the Chinese staple been "crocked" after doing 11⁄2 British cotton piece goods une produces a cotton which satisfac-miles on the inner course in 3.38. foaling the strain very much for torily spins a yuri suitable for 3/5 (last quarter 35) on Saturday. about 90 per cent of the British weaving the lower clase material, so zoods coming into the South Chinach worn by the uses of the One went so far as to say that the nuwket kha mnamfactured from Chinese who cannot afford a better pony pulled up lame after the American grown cotton. Chinese article.

heavy going but two others volun. and Japanese manufacturers, on the ather hand, are flooding the market

teered the information that "it was with infotior nudes of cloth made

not serious" and that. there was a Their industry was well fair chance of the pony starting. from Indian aid Chinese conon und which are being placed on the established, said the cotton expert,

This year there is little to assist and they were putting on the the layman in attempting to take marker at extremely low prices.

i market cloths in exact imitation of

training times for the public. the British made article and W Last year, ponies carried saddle- to their cheaper costs of production cloth nurabers in training, with the

The Japanese were also manu- neturing goods frempa ixture of Chinese. Indian and American cation.

The future of the British cotton goods in South China akete, said the expert, depended upon adequate supplies of Amurican cotton at and lesser freight charges they aid of a fist compiled by the Club

The plaintiff was an Indian

According to Hakam Singh's Lammert, Fung Tat-hang, B. C. account of the transaction he lent Randall, A. A. Cordeiro, J. Toppin, the money to a man named Chang Fred Ellis, Choa Po-min, W. Fook who was formerly employed Adamson, A. A. Alves, D. Lopez, by Wah Lee and Coy. Afterwards C. A. da Roza, D. W. Munton and he lost track of him, and ascertain

ing that he was employed in the Tong Hok-ting.

Wing On Company had a writ served upon him there."

The Secretary read the notice. conveping the meeting.

It was disclosed later that the

The report of the proceedings of the meeting held on January 28 man upon whom the writ was were read and the Chairman then served was not Chang Fook but proposed that this report be Mr. Kong Pul-yin, Secretary confirmed and that the Extra-of the Wing On Company. He ordinary Resolutions including had, however, been pointed out one increasing the capital of the to the balliff as the defendant by Company to $2,000,000 passed on Hakam Singh and he therefore explain his position. Repesented by January 28 be also confirmed as was advised to appear in Court to Special Resolutions.

Mr. McCullum, he gave evidence that his name was not Chang Fook, that nobody of that name was em ployed by the Company and that he knew nothing about the transaction.

This was seconded by Mr. Ellis and carried.

The Chairman then proposed the following Resolution as an

reasonable price. The outlook was offered them at a much cheaper rate. officials, it was possible to clock the Ordinary Resolution:-

gloomy, for America's exports int stead of tending towards na increase were slowly decreasing owing to The rivages of the bull weevil and to the fact that America herself was taking more and more of be own cotton for her own con sumption.

PRICE COMPARISONS,

THE POST-WAR BOOM.

a

"That it it desirable to capitalise

The manager of Wah Lee and the sum of $900,000, being part of the undivided profits of the Com Company was also called and he pany standing to the credit of the said that he did not know Chang Company's Reserve Fund and Fook either. Questioned about a accordingly for the purpose of chop, purporting to which appear on the note, the that of effecting such capitalisation in ed.

firm's not his pursuance of Article 110 of the Wah Lee and Company, he Company's Articles of Association said it was

bonus of $15 per share on the issu-chop

a

majority of those sent out. How- Abnormal prices of piece goods ever, nothing in this direction has were evident from the beginning of been seen to date yet and the few enthusiasts who previously took a September 1919, to June during the post-war boom. The pleasure in studying the train followed the slump due to cause ing, are too busy training their well known, which may be stated own ponies. to have lasted until the beginning

Combined with the fact that of 1992, but since then, rates have trainer Curreem does not send out Before the war, middling Amerigradually risen antil now they are the Dahlia string till about 11 am ean, which was the standard grade, on a steady basis which will be and that the weather has been ed shares of the Company be and Yesterday, the plaintiff called the same is hereby declared two witnesses. One of them said would be bought at from 5d. to 7d. andatedly maintained for some decidedly against anything like and that the General Managers be he introduced Chang Fook to the serious trial gallop, the foregoing per . The price to-day was about time..

reliable 204. and cording to

With regard to the Empire Cotton has kept things open to date. Even and they are hereby authorised to plaintiff and both agreed that Mr.

naturally satisfy such bonus by the distribu: Kong Pui-yin was not he. authorities would probably o up Growing Sheme, British immufac- the experts, although

In giving judgment for Mr. to 24. per lb., before the entarers have had the project before sanguine as to the theirown ponies, tion amongst the persons who are the season. Less than ten million then for many years and the present declare that the chances for the registered as holders of the present Kong Pui-yin this moming, Mr. bales have been gined so far, and position of affairs was forecastai a Derby, are very open, one owner issue of shares of the Company on Justice Gompertz, after comment claiming that it was anybody's the 12th day of February 1924 of ing on the curious nature of it is likely that the season's crop long time ago. will be wholly inadequate to meet "We must have the support of race. He was not at all exhuber three of the unissued shares of the the case, said that, when he the world's demands. With the Government, besides the interest ant over the performances, to date Company credited as fully paid took his seat yesterday morn- America taking up more and more of the manufacturers, spinners and of Baronsfield, the 14 hands pony up in respect of every two shares ing he was in considerable of her cotton for sheetings, motor neighants in the Empire scheue," belonging to Messrs. Morriss and of the Company held by such doubt as to where, the truth lay tyres, etc., the price will alingst concluded the expert. "Unless Marshall. In his opinion, it could persons as aforesaid and that such but, having considered the case certainly rise.

something can soon be done," he not stay the Blue Riband distance new ordinary shares rank pari as a whole and giving full effect British murents, and manufac-Súd the industry will find itself as well as Countfield or Bracken- passe with shares already issued to what took place yesterday he as from the date of allotment had no doubt and his judgment turers, went on our informant, were in a very bad way.

to dividend and with regard finding it impossible to book busi- Ir is a well known fact that lines with sich imports of picce goods for the list

that the General Managers issue to would be for the defendant. "1 India and Chins, veur or two have been so small that markets as

The public still made Sir Paul's shareholders holding a number of think." His Honour added, "that the plaintiff undoubtedly lent the favourite stable for the Derby shares which is not a multiple. of

to money Indians and Chinese were only many firms have been hard hit,

some Chinese who call-over but two a fractional certificate in re deluded him but he is very far able to pILY to a certain number of well established business at last night's prico and beyond that price houses in the Far Hust having had Messrs. Morriss and Marshall were spect of the odd share held by from satisfying me that it is the

budge they refused

The fo close down altogether or to not far behind.

the them and allot one new share to defendant." costs of production in England curtail their interests to a large average for the three draws at the every person who shall produce now, were such that it was in extent...

Tam Un Club the odds against Sir (within such period as the General Tossible to bring orders to book. It It is most important that the Paul's stable were about 13 to 10 Madagers shall determine) frac was well known that during the insteleme for the development of and the "field" string about 7 to tional certificates making in the

OR

10

field.

SELLING-SWEEP ODDS

Taking

few months, fins in South China Erepire grown cotton should be 4. Mr. Bill's. Mr. Henry aggregate a total of one share." have sent many offers to Manchuster pushed ahead with all possible Humphreys' and Lady Chater's

This was seconded by Mr. and it has been found impossible speed, for it will take several years stables were given the third Lammert and carried. in the majority of cases to bridge before satisfactory staple éan be highest prices while those which the difference between prices reproduced on the new sail to approxi- also fetched higher figures than quired in Manchester and offers mate in any degreefthe cotton grown made by local dealers;

COMMERCIAL NOTES.

COTTON CONTROL BOARD PLAN.

„ERFORTS LEAK DOWN,..

Loxbox, February 11. Protracted efforts to establish a cotton control board broke down after a conference at Manchester deciding that owing to the diversty of interests it would be impractic able to devise a scheme which would meet the intercets concerned. Heuter.

COMPANY REPORT.

HONGKONG ROPE MANUFACTCHING Co., LTD.

The report of the above Company for presentation to the shareholders at the 4th ordinary generul meating to be held at the office of the Con- pany on Thursday, February 28, at 11 o'clock a.m., is as follow

The balance at credit of profit and loss 'nocount after allowing for the interim dividend of $60,000 paid in August last nad including the balance of $13,166.61 brought for ward from 1922, is $187,687.89, which it is proposed to appropriate

as follows:-

To Place to Reserve

Fund

$10,000.00 To Pay a bonus to staff. 8,246.00 To Pay a Final Dividend

of $1 per abure ***** 60,000.00 To Bonus of $1 per share 60,000.00 "And to carry forward. to

in Argerica.

NAM PAK HONG QUOTATIONS This morning's Nam Pak Hong quotations for spot" goods, basis usual guild terms, were as fol- low's

Messrs Stephen's and

Stitt's were Mr. A. H. Carroll's and Mr. Dynasty's,

For the Gymkhana Cup, the bidding was not as keep, the

NOBLE SWORD.

•

FORGED MACAO NOTES.

OVER $40,000 WORTH SEIZED IN CANTON.

(From Our Own Correspondent,)

CANTON, February 11. is being in the following or Mr. G. N. Orre as a rather noble Macao police, a raid has been Au officer's sword, described by

On representations from the der of demand:-Sir Paul, Mr. Kind of word." and bearing the

Mr. John Peel.

A. H. Carroll, Mr. C. C. Boyd and design used by Dr. Sun Yat-sen's executed on a house in the Eas party when the Revolution started-tern suburb, in which was found SHANGHAI JOCKEYS.

the six pointed star, which is now spurious Macao banknotes (in $10 denominations) of over Tavo Snear, average quality, por

Only four ponies belonging to the Kuomintang's insignia-formned picul net-No. 4 rough white the Jardine stable were galloped the basis of a charge of possession $40,000 face value. A small $16.10; No. 24 fine white $10.80 this morning, most of the othersgainst Turf Man-yau, of No. 4, quantity of franc and rouble notes, also forged, was seized likewise having been out yesterday or on Wing Woo Street, this morning. No. 18 rough brown $15.

Rice, average quality, par pieul Sunday. The Admiral Line stated For the prosecution, Acting a printing machinery, dyes and grows for net-No. 1 superior long this morning that the "President specter D. McDonald said that the other paraphernalia secreted in Although reports are current of white-Siure, old crop $9.10; Jefferson" would not be due to weapon was found by Senior Re- the house.

Crop $8.15: Shiron get in till late to-night or first venue Oficer & Watt in a search fighting between Dr. Sun's and Sian new

thing to-morrow morning. At any Defendant admitted possession and $7:25.

comparative Flour, per sack of 50 rate, there is a probability of some added that a friend had asked him, Chan Kwing-ring's forces on the Dayton $2.76; Banana $2.72 of the Shanghai jockeys who are in Shanghai, to take it to Hongkong East River front, White Greens $2.80; Nutmeg travelling on the ship, being seen and send it to Yunnan. Inspector quiet prevails. That something is in Orange $2.78: Sperry's XXX at work on the course to-morrow MacDonald stated that he had aren the air is, however, evident from the $8.00; C. & C. $2.80; Melon $2.84. morning but they may not be out the C.B.P. who had remarked that fact that quite a number of Chan's "this taking for friends must stop. partisans have passed through His Worship imposed a fine of Hongkong, since the New Year, NEW JAPANESE LOAN.

$10 and advised defendant to make for Swatow, where Chan's head- whatever application he thought fit,quarters are established.

LONDON, February 11. Underwriting is proceedling for the Japanese loan of $25,000,000 at

cent., price 87 redeemable 1929-39-Reuter,

FRENCH BANK OF CHILE.

VOLUNTARY LIQUIDATION...

SANTIAGO DE CHILE, Feb. 11.

till a fairly. Jate hour.

It is learnt that Mr. Pirrie, the Shanghai trf enthusiast, who is also well-known in Hongkong is to arrive on the same ship.

NEW SOLICITOR.

LATEST LEGAL RECRUIT.

Mr. Ralph Archibald Wadesop, who has come out from Home to

The Fronah Bank of Chile has join the legal firm of Messrs, gone into voluntary liquidation by a Deacon Harston and Shenton, was decision of the shareholders at-an this morning admitted as a mem- extrordinary general meeting-her of the Colony's legal pro- Bruter's American Service.

fession.......

COAL OUTPUT.

The Attorney General (the Hon. Mr. J. H. Kemp K.C.); in moving | that Mr. Wadeson should be ad

The total output of the Kailan mitted, told the Chief Justice (Sir Administration's mines for the week William Rees Davies K. C.) that Mr. the credit of next

ending February 20, 1923, amount Wadeson served with H.M. forces year's account 4,341.20 od to 70,004, tons and the sales dur throughout the war, first in the Consulting Committee-The Honing the period to 78,302 tous.

infantry and later in the Tank Corps, and that he obtained the Military Cross. Mr. Wadeson

June

Mr. A. O. Lang hus resigned; and

SILK CARGOS

The Hon. Mr. P. H. Holyoak wad invited to take his place on; the pe Consulting Committee. In accork The Silk which left here by the passed his final examination last ance with the Armoles of Associas P. & O. s.8.Khive" on January tion, the Hon. Mr. P. H. Holyoak, 12 was delivered in Marseilles on pleasure to admitting Mr. Wado- More H-P-White adlanFebruary Hy aansit of 80 days on, the Chief Justice Bald sy Cameron retire, but offer themselves

for re-election.

A

*** Auditor, ---- The counts have bean audited by: Mossre. Lánstend

& Divia and Messrs. Percy Smit

Beth & Fleming Mesta. Ein & Davis and Percy Smith Feth Flomába freipigible for olddtio

Announcing that he had much

se

"Attorney General has just Inform-

ed me of your distinction in the

borrás Bigent une reminded at battlefield which is certainly of on a charge of great credit to you and I can only Lisdy Byrne by hope that your distinctions

fhất se hnd w.oldier runY DO KI BARD

danielas success in the

THE STAR

Thursday, 14th February at 5.80 p.m. Saturday, 16th February at 9.15 p.m.

THE KOWLOON DOCK AD.G.

Present

THE RAJAH

OF

RAJAHPORE

MUSICAL COMEDY IN 3 ACTS

with

SOLO DANCES BY MISS MARY HYDE

· MILLINERY

·DAY AND EVENING- GOWNS SUNSHADES BAGS LINGERIE ROSE

SHOES, Etc.

LANE, CRAWFORD, LTD.

INVITE INSPECTION OF THE

NEW GOODS

NOW SHOWING FOR

RACE WEEK

LADIES'

SECTION

HONGKONG HOTEL BUILDING, PEDDER STRENT.

ENGLISH RECORDS

(NEW-PROCESS)

HAROLD WILLIAMS and Male Quartette. RONGS OF THE FLEET

No. 1-Bailing at Dawn;

No. 1. - The Song of the Sou* Wester; 960.—No. 2-The Middle Watch. (In Two Parts) 951-No 4-The Little Admiral'; No. 5. -Fscowell.

Songs from "THE GONDOLIERS

THE GONDOLIERS:

32:5{

3536

1 hore Lived King

Harold Williams, Baritone Take a Fair of sparkling Eye... Eric Courtland, Tenor No Possible Doubt Whatever ...... Harold Williams, Baritone

DORA LABBETTE,

In Enterprie of Martial Kind)

...

HI

Soprano

(With Piano). D1468 VENOWN BALD SAur Hinge, Dear Angela) (Liz Lehman) (Haydn Wood)

A BIRD SINGING

AT

ANDERSON'S.

Everything that your BABY needs that a good Drug Store ought to have you will find in our store.

QUALITY GUARANTEED-TRY US

THE

CHINA DISPENSARY.

82, QUEEN'S ROAD CENTRAL

GREEN ISLAND CEMENT CO., LTD.

BEST PORTLAND CEMENT

SHEWAN TOMES & Co.,

General Managers.

HONGKONG.

DYE KEN

JOHN

THE ORIGINAL

HAIG?

ODCAHEM

409

·Distillers Mad

Scotland

JOHN HAIG & 00; LTD)

iren half price.

ANDES PRICE & CO.