1925-08-04 — Page 3

TUESDAY, AUGUST 4, 1925.

LAMMERT BROS.

· HIGH CLABI ROOTE AND SKOMA

AUCTIONEERS, APPRAISERS

AND SURVEYORS,

Public Auctions -

HE Undersigned have received structions to sell by Public

on

'Auction

Wednesday, the 5th August, 1925 at li a.m.

at Messrs. Kung Yau Yuen's God.wn

(For Account of the Concerned.) 120 Cases English, Ont Terms: Cash on Delivery.

LAMMERT BROS.,

Auctioneers.

OUR ENDEAVOUR

IS TO PROVIDE POSTAGE STAMPS

OF ANY COUNTRY FOR YOUR COLLECTION.

GRACA & CO12' Deslora in Philatelic Goods, View Postcards, etc.

No. 10, Wyndham Street, P.O. Box 620.

NOTICE.

Hongkong

The undersigned begs to aa- nounce to their customers that they are now able to handle repairs to boots and shoes.

CHERRY & CO.,

6, D'AGUILAR STENST,

Opposita Kayamally & Co.

Talaphoma Cantral No. 491.

Hongkong, July 17, 1925.

TUNG SANG

TAILOR

11A Peel Street

#4#NÆ E

单兵營豐豐A

EXPERT FITTERS

HIGH CLASS TAILORING

X

SERVICE.

PUBLISKEN ANNUALLY.

Made to order. ROYAL & CO.

No. 1, D'Agullar Street

WANTED..

WANTED.-Active partner with capital for British Import and Export firm. Several years' stand- ing having extensive connections and agencies. Must be of British nationality with experience of local trade. Apply Box No. 650, c/o "China Mail,'

WANTED.

INTIMATIONS.

HONGKONG TRAMWAYS,

LIMITED.

THE CHINA MAIL.

NOTICE TO SHAREHOLDERS,

An INTERIM DIVIDEND of fifty cents per share has been declared and will be payable ON AND AFTER WEDNESDAY, THE 20TH AUGUST, 1925, when Dividend Warrants may be obtained upon application at the offices of the Company.

from

The REGISTER OF MEM- BERS of the Company will be CLOSED

THURSDAY, 18TH AUGUST to WEDNES- DAY. 26th AUGUST, 1925, both days inclusive..

Flat of three rooms, unfurnish- ed, required August 31; good | · locality, middle level, Peak, low level, or Kowloon; state rent and particulars.-Box No. 661, this Office.

What is a mother to do?

What is a mother to do when she is worried out of her life because her baby will not get on ? Best to do what this doctor did-give him Glaxo.

*My boyaged twelve months is in every way up to the standard of an entirely breast-fed baby ; is full of vitality and good temper and has firm flesh and a well-knit figure. I cannot speak too highly of your food from personal experience." -(Signed) MD Lond., M.B., 93.. MR.CS, LROP

(Raf. DA, 9) Give your baby Glaxo-the food doctors give to their own babies, the food that builds firm flesh, pleaty of bona and real good health.

glazo

"Builds Bonnie Babies"

Write for Free Sample and Descriptive Booklet to

Solo Agenta: W. P. LOXLEY & CO., Hongkong.

NOTICE.

Subscribers of the China Mail not receiving their paper every LONDON DIRECTORY evening owing to the uncertain delivery as the result of the strike are invited to notify this office

WIŁA PROVINCINI & Foreign Moosatru vod trads Headings in sivu LRINGURENE

enables traders to communicate direst with

MANUFACTURERS & DEALERS in London aud in the Pursial Towns and Industrial Centres of the United Kingdom and Ireland, Continent of Europe, Africa, Americ

Asin, Australasia, sto. The names, addr casca and other details are classified under

chan 5,000 trade more including

EXPORT MERDHANTS with detailed particulars of the Gooda shipped and the Colonial and Foreign Marketa supplied;

By Order of the Board,

W. F. SIMMONS,

Secretary. Hongkong, July 29, 1926.

NOTICE.

JULY TELEPHONE DIRECTORY.

The English Section of the July edition of the Telephone Directory is now available at the following addresses, between 9 a.m. and 6 p.m. on week days:-

15/17, Queen's Road, Central.

Peak Store (By courtesy of Messrs. Lane, Crawford & Co., Ltd.).

1, Cameron Road, Kowloon. Subscribers are requested to deliver up their old directories when applying for new copies,

The Chinese Section will be available at an early date.

HONGKONG TELEPHONE

CO., LTD. 28th July, 1925.

́LABOUR OFFICE,

C

With reference to the Notice dated 23rd July it is hereby notified that the Office of Dr. 'S. W. T'SO, Assistant Controller of Labour (Chinese), will be closed as from WEDNESDAY, August 5th.

G. M. YOUNG, Controller of Labour. Honghong. Aug. 9, 1995.

COMMERCE AND

NEWSPAPER PROFITS.

ALLIED PAPERS,

FIRST ANNUAL REPORT.

FINANCE.

CHEAP MONEY..

A RESULT OF POOR BUSINESS.

New York, May 8-That cheap. money is the result of poor busi- The first annual report of Allied firm money, is the statement made neas and that good business makes. Newspapers Limited has been by Benjamin M. Anderson, Jr., issued to shareholders. It shows | Ph.D., economist of the Chase a trading proft for the twelve National Bank, in an address months ended December last before the American Management amounting to £895,592, This total Association at Briarcliff Lodge. is reached after working and management expenses together with depreciation and directors' remuneration have been deducted. It compared with £855,199 for 1923, £742,855 for 1922, and £411,065 for 1921.

Dr. Anderson said in part:

"There is a belief, widely held on both sides of the Atlantic, that

good business depends on cheap money, and that even moderate increases in money rates can turn

good business into depression. It js a fantastic idea, unsound in theory and repeatedly refuted in economic history.

After having charged off 265,390 for interest, etc., and £11,400 as reserve for corporation profits tax, the balance available

"The casual relation between is £918,802. Against this has to business and money rates is, for be set the first Preference divi- the most part. directly the dend that fell within the period of reverse. Good business makes the accounts, requiring £154,249, so that the remainder of the profit in hand, subject to income tax, is £664,563.

cheap money, other things equal. casual connection, money rates are "To the extent that there is a

Out of this the directors have conditions rather than the cause generally the effect of business decided to use £469,674, which is of business conditions. It seems equal to the total preliminary and worth while, however, to apply formation expenses, in founding our American experience during a general reserve, and to carry the past forward £194,879 subject to in-doctrine, as we have been passing two years to this come tax.

ing test of the matter. through an exceptionally interest-

The directors state that the company's business continues to

Progress favourably, and that Profits for the first four monthe of the current. year are equal to the corresponding period last

year.

"The theory underlying this notion is that cheap money will! make a big increase in commercial and business borrowing and that, as business men borrow. money. they will spend it in such a way They have decided to declare an interim dividend of 5 per cent. (or business active. The heart of the as to raise prices and to make. 18. per share) less tax on the ordinary capital in respect ofness and commercial borrowing is theory is that the volume of busi- 1925,

that business men pay, governed by the discount rates

In addition to making adequate depreciation allowances the board

"The facts are, as business men has spent £113,439 on additions to and bankers know, that the the plant. When the properties volume of commercial borrowing were taken over £1,500,000 of the is primarily governed by the purchase price was paid to the expectations which business men. vendors in debentures carrying have as to the volume of business per cent. interest and á 3 per cent. which

can be done with the sinking fund. Last October the money, and the profits which can company purchased these deben-be made. Business profits depend tures on advantageous terms, and on the relation of costs to receipts. thus relieved itself of

very "Money rates are among the onerous undertakings in addition elements of costs, along with to effecting a substantial saving labour, raw materials, transporta- of interest and capital redemption tion, rentals, taxes and other charges.

The bulk of the funde required sively high, they may make a real items. If money rates go exces- to carry through the operation difference in profits. Within a was obtained by borrowing wide range, however, anticipated £1,350,000 from the bank, the volume of business is far more remainder being provided out of significant than money rates

HONGKONG HOTEL the company's own resources. Since the financial year ended the bank loan has been reduced to £1.250,000.

TEA LOUNGE

10 am, to 12 midnight. PUBLIC BAR 8 a.m. to 12 midnight. SODA FOUNTAIN

9 a.m. to 11 p.m.

NOW OPEN.

THE HONGKONG & SHANGHAI HOTELS, LTD.

can be done with 5 or 6 per cent. If a large volume of business money, profits may be much It is explained that contracts a smaller volume of business done greater than they would be with have been entered into recently with 3 per cent, money, because for the acquisition of important overhead expenses can be spread newspaper interests in Newcastle cut over a much larger number of and Glasgow, of which further units of product, so that cost per details will be given at the annual unit is smaller with a large meeting. No issue of capital will volume despite higher money be involved in the transactions.

NEW BEET SUGAR CO.

Greenock, the home of the sugar industry in Scotland, is taking advantage of the favourable terms offered during the next nine years by the Government subsidy upon home-grown beet sugar.

rates.

"In the actual calculations of business men who are deciding whether to borrow a larger or the rate, to be paid is very much smaller amount from their banks, less important than their anticipa tions to the volume of business which can be safely undertaken.

"Instead of being the dominant element governing business bor- A new company-The Orchard rowing, discount rates are merely Sugar Company, Limited-isi one of many elements affecting

the calculation."

THE MERCANTILE BANK OF being formed with a capital of

INDIA, LTD.

NIKAD UFFICS:

13, Gracechurch Street, icadım.. # U.). Authorised Capital

.£3,000,000 Subscribed Capital

... 1,800,000 Paid-up Capital .... 1,050,000 Reserve Fund

Madras

£170,000, and will next week invite subscriptions for 50,000 Seven-and-a-Half Per Cent. Cumu- lative Participating Preference shares of £1, each and 80,000 ordinary shares of £1 each, all of which have been underwritten, 1,800,000

In addition, an advance of £80,000 is being made to the com- pany and guaranteed by the Trea- sury under the Trade Facilities

BANKERS: The Bank of England à Midiana Beck, Ltd.

LAGFki kanavõe

New York *Lond

BizEsper Bourabaya

if they would prefer to purchase or A BRANCHES their paper from the street newe- boys direct and have the amount credited to their account.

reading Ye Olde Printerie, Ltd.

STEAMSHIP LINES arranged under the Porta' to which they mail and indicating the approximate Bailing

One-luch BUSINESS CARDS of Fiems desiring to extend their connections, or Trade Cards of

DEALERS HEEKING AGENCIES" ona be printed at a set of £1. 10. Od for each trade houding under which they are inserted. Larger advertisementa at £10 per page.

The directory is invaluable to everyone Interested in overseas commerce, and a copy will be semt ny panel port for £3, nett pasha with order.

THE LONDON DIRECTORY CO.. LTD.. 25, Abahurch Lane, London, E.0/4,

England,

„BURINISË ISTARLIGHED IN 2014

MOTONO,

MASSAGE

adham St. 2nd Floo

X

(China Building Basement)

Have the pleasure to announce that they are able to undertake

amall job printing orders during.

the strike. Prompt service and moderate charges. Phone C.3797.

Ye Olde Printerie, Ltd.

THE AUCTIONEERING # BROKERING CO. LTD. [88,"Daddell Street

FURNITURE AUCTIONS

́every'

TUESDAY and FRIDAY

12.30 pm.

L.E.Ś. HODGE

Dates

لعامة

BACAYLE I

Caloriza Sand

Kota Bhar

HONGKONG BÜKKOR, Every descriptive of Banking of Exchange best. INTEREST Allowed no Correct Accounts at 2 par- cent per amanm on Dally Balance and on a Do poslat rates that stay be moertalowri on nypib aldoa.

J. A. ROSS,

Autler Mass= __? Queen Road Castral. Boerkawa, January 25, táto

Let "GETS-IT"

End Your

Corns!

* Ressedy le

One touch of "GETS-IT and "that's the end of THAT oris. Painstōna 21-3 Conce,quickly the

Act.

LITTLE GIRL IN CEYLON Improved Wonderfully- Through BABY'S OWN TABLETS

a

FOOD FOR THOUGHT.

A London merchant, acting for Tientsin house, recently approached home manufacturers quote "seconds" quality in order of sanitary ware asking them to i to enable them to sell their goods in China in competition with Ger- many, whose prices were lower. This they resolutely refused to do, and the merchant in question now sends the "Mercantile Guar- dian" the following extract from a letter received by him from Tientsin

Wo have just lost a fairly large order for sanitary goods for the interior-value about 2400. Our) Mr. J. M Simon Perera, of Stafford materials. The order was secured prices were based on all-English Gardens, Colombo, 18ole of the numer ous people who on speak from experi by a German company at a figure lenci of the offencý" of: žaby #" wwn 25 per cent, lese, then ours.

Tablets a remedy for pe silments of are now in negotiation with Ger- infants and litle galldreu eraman manufacturers in the hope

My little nises Rubine Buffon d from constipation. with consequent loss of appetite. HỌ TRO H với rezsrded and ha became fretful and weakly Reading

• mo be atten mendating Baby'sOwnTablat

1 brought ano

fow vint for the

ohilt and they

We

that we shall secure prices which will enable us to compete for Chinese business against the Germans, Home manufacturers apparently prefer to support un- employment than cater for a "seconds"" 'quality market.

SYNTHETIC AMMONIA

The recent announcement of à guarantee of £2,000,000 under the

de Ferem's little on Trade Facilities Act as new capital

Tablets proved to be all that in claimed for Synthetic Ammonia for them. Her adcstipati

and

appared Nitrates, Ltd., indicates great

and her appetita inurenes Punexpansion of the undertaking set weight and in a voiy short; time

bed almost sat of exciting We up at Billingham, near Stockton- # è vary Panskfül föz her cuje

Imp

on-Tees, by n subsidiary company

Messrs., Brunner, Mond & Co. E-making-ammonia-from nitrogen of the atmosphere.

at Billingham will

size and

YEE SANG FAT CO.

The

Hongkong

BARGAIN

House

84 Queen's Road & D'Aguilar Street

Entire Stock Sale at

BARGAIN PRICE

Lots of Qood nings were

Opportuni oes.ot Wart

KAIPING CCAL

HOME,

FACTORY

AND

BUNKERS

FOR ALL PURPOSES

PO R

HOULE.

TUGS &

LOCOS

THE KAILAN MINING ADMINISTRATION,

Head Office:TIENTSİN.

Agents:-DODWELL & CO., LTD., Hongkong.

Hongkong's Fashionable Photographers

The

MEE FONG STUDIO

Spacious New Premises

*

YER SANG FAT BUILDING, TOP FLOOR

(Corner Queen's Road Central and Flower Street)

Tel. 0.4028.

Tel. 0, 4028 (Official Photographers of the "China Mail.")

TUNG ON STEAMSHIP CO.

OPERATING THE NEW AND

UP-TO-DATE STEAMSHIPS

“TUNG ON”

"SAI ON"

FLYING BETWEEN HONGKONG AND CANTON, Leaving every day from Leung Wing Wharf

for CANTON.

Tel. C. 4193.

Tel. C. 4198

PIANOS for SALE or Hire

›TBANG FOOK PIANS 10,

Tel. C. 4848

Gerrard 5478

No, 8, Des Voeux Road Central,

Contenace ten House Birisi)

Tel. "Jamaco" London.

A. C DISS

(Late of Dass Bros. de Mackintwk, LTD) HONGKONG

Co CAMPBELL LATHAM & tôi TAILORS

59, Conduit Street, LONDON, WI)

COME AND COOL OFF

THE CORONET