1930-10-21 — Page 2

Page

2

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorland Capital EMT $50,000,000 Tued and Fults Feld-up $20,000,000 More Funda

Sibling...Τ,000,000 *** $500,00

Bar Lishility at Proptipiors $30,000,000

HEAD OFFICE: TIONG KONG,

BOARD OF DIRECTORS:

J. A. Plummer. Eng. Chairman.

Hdh e C. 0, 8. Mackin. Depilly Chairmans.

W. It. Bali, m.

Han. Mr. J. Faisteca.

H. Compton, Leg. E. Sure, Edg

B. Lander Lowie, "Fay, T. “H.; D. Bhaw, Eng.

10. Mlaklu,. Feg a

ДНОГ

BANGKOK

BATAVIA

MİN BAY

CALCUTTA

LANTIN

CHEFOO

I. P. Wara Ex.

Chief Mangor.

V.M.Araghurn, Esq.

www.

DRANCHES:-

1

LINDON

1.YONS

BEALACCA

3SAN15A

alatt (Jobare)

MURDEN

NAGASAKI

NEW YORK

PRIVING PENANG

BANGOON

DAIRES POOCHOW

BATHING

HAMBURO

SAZION

HANKOW

SAN FRANCISCO

ЦАЦНИХ HONGEEW

MANUSIAL

SINGAPORE

DURABAYA

SUNEI PATANI TIENTNIN

TOKYO

HAILO

PUR

20OR

KO

ROWLODS

ISUSOTAO

KOALA LUMPUR YOKOHAMA

Current Accounts pound in Local Currency and Pised impact foroived for one year of shorter tricula Local Currurier and lading sa sari which whit. bo quoted on, application. Hoo Kung ist April, Juan,

HONG KONG SAVINGS BANK.

The Divisions of the abure Bank is conduct

ed by cha' IlNG KONG AND BHANGHAI BANKING CORPORATION.

abcalmed na applications

Hulan may be

FOR THE HONGKONG, AND SHANOUAI BANKING CONTURATION.

V. M. GRAYDURŃ,

Hong Kong, 18th July, 1200.

Chiol Meager.

NEDERLANDSCHE HANDEL-

MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

DANKERS.

Established 1824.

re:-11, Queen's Road Centra

Civilders 150.000,00.

Authorized Capital

Eling Kouz

Pald-Up Capital

Beterre Fund

(£12,300,000.)

Quilders 80,000,000

(£6.569.170)

Guilder. 40,615,0

(23,834,360;

Head GÁSISTERDAM-

Entorn fead Ofte:-DATAVIA,

BRANCHES :-Bandjemals, Bandang, Bombay.

Calculla, Chotibon, aber, Djak jekla, 1b gus, Jeddah, Babe,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858. HEAD OFFICE; LONDON. Paid-up Capital

Reserve Fund. Reserve Liability of Pro-

prietors

£3,000,000 £1,800,000

..£3,000,000

KUALA LUMPUR KUCHING

MADRAS

Agencies and Branches:

ALOR STAR

BATAVIA

(Malay Sinton)

AMBITHAN

BANOBOK

OMBAY CALOUTTA CANTOR

CAWNYORE

CER

1430 DAIHEN (Dalay

Neulk Manchurie?

DELIS

HAIPHONG

HAMBURG

(B. Manchuria)

HANKOW

HABBIN

HNG BONG

1.OILO

11

KARACH

ELANG

MANILA

KEDAN NEW YORK PERINA PENANGSA. PESHAWAHI RANDOON SAIGON

SEMARANG

SEBEMBAN

MILANUFFAL

SINGAPORE

HOURABAYA

TAIPING (F.M.8.) TAVOY TIENTSIN TOKYO

TONORAR (Dhuket) +TSINGTAO

УШКОНАМА

КОЛЕ КАКОВАЯ, НАМИРАНА

KUALA

(Perak F.MA.)

(Whippina. Flander

General and Foreign Exchange Banking business transacter.

Current Accounts opened and Fix- ed Deposits received for 1 year or which will aliorter periods at rates be qucted on application.

A. IL FERGUSON,

Manager. Hong Kong, 8th January, 1929.

THE CHINA MAIL.

ommerce and Finance

STERLING LOSES. FURTHER BIG FALL IN RESERVES.

easy, and, in the second place, the market is none too keen to get stuffed up with the bills., Brokera have found it difficult enougn to keep rates firm without tendering Fur- too low for Treasury bills. thermore, it is eminently desirable that rates should be up to attract funds to London from abroad.

A

TUESDAY, OCTOBER 21, 1930.

HONG KONG MARKET PRODUCE.

APPROXIMATE RETAIL PRICES.

Butcher Meat

4.RE

Boaf Sirloin ..

Prime Cat

Corned

#

ท

Rasst..

» Breast

Soup

4

P

Steak

Steak Sirloin

1 'Sausages' Bullock's Bralce....

Tongue, fresb..

Tongue, tornad

KF

+1

20

Head

Heart

ח

Hump, Salt

Feet

Kidneys

+

of

Tail

Liver

Tripe

There was a marked reaction in foreign exchanges yesterday, ster ing falling back to $4,87, at one

Holiday currency requirements time and closing only a little above? the worst at $4.87 1/32, says The made further inroads on the note Financial Times of August 8. In reserve of the Bank of England Hympathy, several of the Con- during the week ended on Wed. The actual increase in tinental gold currencies movednesday, against London. To some extent, the note circulation was £1,601,267, this setback in the damped the but as the total gold stocks in- optimism of the market, which had creased by £343,444, the reserve was down by £4,266.823, been created by the recent steady item

total decline making appreciation in Herling.

While the Incrouse in call money | £10,279,652 during the past fort- rates in New York may have assist night. For the corresponding fort ed in the reaction, the real cause night of 1929, the reserve item was Calves' Head & Feat.

no less than is not difficult to explain. It was depicted by due almost entirely to competitive £18,139,318, but the expansion in covering operations caused by the the note circulation, then was ac- appearance of a genuine, if not companied by exceptionally heavy large, commercial demand for dol withdrawals, of gold. lars. It is more than probable that the recent rise in value of of dollars hus sterling in terms been a little too rapid; it is equal Straits $20,000,000 | ly as probable that the competitive too 8,000,000 covering may have led to a 4,000,000 rapid setback. At any rate, well 4,000,000 in formed foreign exchange brokers 2,623,000 and dealers are inclined to the view that the reaction will prove temporary.

.

THE HO HONG BANK, LTD. (Established 1917.)

CAPITAL:

Authorised Issued

Paid-up

Reserve

Liabilities

of Sharchohlera Surplus

"

HEAD OFFICE:-SINGAPORE. Branches, Agencies and Correspon- dents in the principal cities of the world.

Every description of Banking and Exchange business transacted.

TAN ENG HOOL,

THE

Manager.

Franc Appreciates.

it is only natural, to find the French exchange moving in sym- pathy with the dollar. The with- drawal of bar gold for shipment to Paria yesterday was remarkably small, but should the dollar and franc continue to move adversely AMERICAN EXPRESS COMPANY, to London, it will not be long be fore the withdrawals increase in ING.

size.

heavy shipments The from New York to Paris have helped considerably to satisfy the French demand for the present, but it would be idle to assume that the gold drain to France has de finitely come to an end.

Head Office: 63, Broadway, New York.

.U.S.$6,000,000 U.S.$1,672,454 U.S.$1,908,209

Tena

Capital. Surplus Reserves

BRANCHES

Amatardamo Antwer

Albans

Kuta Radja, Makasar, Medan, Fadan

Baale

Palombar

Pontianak

Hamarang.

EVASE

Kholga (Bumalen). Fingapore, Fourbain,

Pekalongan

Berlin

Geboo (Hangove Hlavac". Hamburg Layro

Kica Haplos Piraque Pazia

Hagoon, Rotterdam

Shanghai,

Discla

Ilombay

Interlaken Jerusalem Lido

Narakarte (Solo), Tegal, Tillajup and, Wellovredas.

Brusale

London

Duesor Aires

Liverpool

Calza

Lucerne

Daleuca

1.ugabo

CL

Lukor

Colomba

Marvelfios

Ments Farid

Manila

Munich

* These offices have safe deposit boxan to Jet,

London Banker :-National Provincial Bank Ltd.

Correspondente ali over the world

Hanking lipsa of overg description transacted.

A. STOKKINA,

Acting Manager.

Bong Kong, 18th August, 1080.

BANQUE DE LINDO-CHINE

HEAD OFFICE:

96, Boulevard Haussmann, Paris.

Constantinople Copertama

Edinburgh

Taking Paterna

Robberdas Sta

Slate bol Sighsl Southampton Singapore St. Morit Tirotela THEO Veicu

Yokohama Zurich

Florazón

Mupirous Allian GIATA

Express Branches of American Company in Principal cities of. Unit- ed States of America and Canada.

All classes of Commercial Banking Transactions undertaken.

Personal

Subscribed Capital .Frs. 72,000,000,00 Pald-Up Capital...Frs. 68,400,000.00 handled. Reserve Funds ....Frs.102,000,000.00

Bangkok Battambang Hue

Cantho

Djibouti

Canton

BRANCHES

Hong Kong Quinhon

Saigon Mengtze Shanghai Nam Dinh Singapore

Thanhea Neumes

Tientsin Tourane

Fort-Bayard Papeete

Haiphong

Hankow

Hanoi

Peking Pnom-Penh Vinh Pondicherry Yunnanfu BANKERS:

IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas Credit Industriel et Commercial; So! clete Generale.

IN LONDON: The National Pro- vincial & Union Bank of England, Ltd; Comptoir National Escompte

de Paris; Credit Lyonnais,

IN NEW YORK: J. P: Morgan &

Co.; French American Banking Cor poration; Guaranty Trust Co. of New York.

!

investment

accounts

The Company offers to intending Traveliers the use of its "Travelers Cheques" and Letters of Credit and, addition, the world-wide services of its thoroughly equipped Travel De- partment.

.Afiliated with ・・・ THE CHASE NATIONAL BANK Resources ..Over $2,500,000,000

E. W. DUGGAN,

Manager.

THE BANK OF CHINA. 行愛國中

Reorganised October 20, 1928, under

special charter of The National Gov-

Interest allowed on Current Ac-ernment as an. counts and Fixed Deposits according.

to arrangements.

INTERNATIONAL EXCHANGE

BANK.

recent

The re- newal of the flow remains menace.

a

In view of the events of last to-day's Treasury bill Friday,

with in- tenders are vested

It will be recalled that a terest. 'week ago the market, in fear of being undercut once again and having missed the bills the pre- vious week, tendered too low and eut the rate unnecessarily. By so doing, the market not only helped the Chancellor of the Exchequer, but weakened open market dis count rates and also rather assist- ed, the holding up of the flow of American money to London forem ployment here.

It is hardly likely that a repeti- tion of last week's events will be witnessed to-day. In the first place, the monetary situation does not hold promise of being any too

THE BANK OF CANTON, LTD. Established 1912.

Head Office: Hong Kong. Aviborised Capital (H.K. Currency) $11,000,000 Paid Up Capital tende Reseres Pind

Bangkek, No York and San Fesnel.co.

BRANOLLES-

0,585,000 0.00

Canton, hanghai, Hankow, walow.

CORRESPONDENTS

LONDON BANKERS:-

The Lord's Bank Limited.

In alt principal cities of the World." foreign change and banking use of wvery description transacted.

Bala Deposit Duren (various alus) ni u jourly

rental of from $5 to $0.

LOOK POONG SHAN,

Chief Manager. Hong Kong, 14th May, 1990.

Every description of Banking and Subscribed Capital ....$25,000,000.00 THE BANK OF TAIWAN, LTD.

Exchange Business transacted.

Safe Deposit Boxes to lok.

A. LECOT.

Manager.

Hong Kong, 1st May. 1920.

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880. Capital (fully paid-up) Yen 100,000,000 Reserve Fund... Yen 118,500,000 Head OffeYOKOHAMA, Branches and Agencies at: Alexandria

Nagoya Batavia

Newchwang New York Osaka

Bombay Buenos Aires

(Temporarily closed).

Calcutta

Canton

Changchun

Dairen (Dalny)

Poking Rangoon

Rio de Janeiro Balgon

San FranciscoTM

Fongtien (Blutden) Seat:le

Hamburg.

Paid-Up Capital.....$24,730,200.00 Reserve Funds ........$ 3,820,503.32

HEAD OFFICE: SHANGHAI.

HONG KONG BRANCH:

1, Queen's Road Central

Owing to our numerous branches. In China and large connections in the important commercial centres of the world, we are able to extend to our clients special facilitics for domestic and foreign banking and exchanges.

(TAIWAN GINKO.

HEAD OFFICE-Taipeh, Formosa. Incorporated by. Special Imperial Charter, 1899.

OTHERS: oog Konx,

Central Bank in Formoss Bank-Notes issued Average amavak...Yes. 40.000,00? BRANCHES AND AGENCIES:

Danka. JAPAN-Tokyo Tokudama,, Kobe,

Kagi. Karenko, Koelung. FORKOBA: Oina,

Mekong, Hania, Shinchiku, Talchu, Talnaa, Tako, Tamoul Tom, Hello, Talio,

Foccio, CHINA-Bhanghai, lankow,

Awalow, Canton,

Singapore, Bourabaya,

Cal Bombay, Barnard Datari. Landon, New Tork, Daires

LONDON BANKERB: The London County Westminster and Par's, Dank, and other Public Funds of the Chin- The Bank has Correspondants in all the principal

sc, Government both at home and commercial Centres throughout the eld abroad.

Manager, SHOU J. CHEN,

Hong Kong, 5th March, 1930.

We also handle the issue of Bonds

Manager.

K. MAGUNA.

NONO BONO-BRÂNCI

Die Vaux Road Ceniza). Tong Kang. 19th Janary, 1925.

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Central, HONG KONG.

Semarang

Hankow

Shanghai

Harbin

Hong Kon

Shimonosek Slugapore

Honolulu

Sourabaya

Kai Yuen

Sydroy. Vonitsin Tokyo

Capital and Surplus. Total Resources

lyu

Vladivostock

Karachi

Kobo' Landön egy

Los Angeles

Lyons' Tapila

Nigaraki

Interest allowed counts.

Deposits received for fter at rates to be obtained on

Hong Konk 10th Septembar (1990)

over $8,000,000.00

over H.$30,000,000.00

Every description of Banking and Exchange business transacted,

Current and Fixed Deposit Accounts in local and for eign curreneles opened for clients.

Savings Account and Safe Deposit Boxes, Branches and Agencies all over the world...

KANTONG PO,

Chlef Manager.

As

a matter of fact,, the in- creases in the note clrculation during the past fortnight and the corresponding period a year ago same, the are practically the

being additions respective £8,840,592 this year and £8,870,743 to The ratio of reserve last. liabilities is reduced a further 3.9 per cent. to 37.8 per cent.

Gold, Stocks.

Mutton Chop

I Leg

A

Shoulder Saddle

Pig's Chitlings

Braias

+

CI

Foet

Fry

Head

Heart

I

Kidneys

#

Liver

*

Pork Chop

I

1.eg

Loin

Fat or Lard

Sheep's Head & Feet,

17

ti

Heart Kidneyn

Liver

The reserve item is now at its lowest level since January 1, but it is at least some, satisfaction to note that it is due to the demand for holiday currency in the main. Admittedly, 'the return under re-sucking Pigs, to order view is technically weaker, but It Saet, Beef compares most favourably with its counterpart of a year ago.

Fream

On August 7, 1929, the reserve item had fallen to the exceptional- ly low level of £25,228,695, while the ratio to deposit linbllities had declined to n' mere, 22.4 per cent. Barbel Moreover, this time last year the aggregate gold stocks of the Cen- only tral Institution £141,431,583, or

than £12,000,000 below their present level. Once again, therefore, it is

CodЛsh right to point out that the Bank

Crabs more favourably placed to is

Cuttle Flat weather whatever autumnal storms may be in store than it was at this ab time last year.

were

more

Oct. 9, June, Juno,

1980. 1018. 1914.

12

Chicken

11

Cle. Ots. Ct.

30 lb.

30

23 12

20 24. 22

12

Capons, Small.

Capons, Large

Hoihow

Turkeys, Cock Turkeys, Hon

白

BE SUHAR BEKISKEY

DRE

Oct. 9, June, June, 1030. 1918. 1914,

Ctx. Ct. Cla

lb. 55 30 31 58 28

80

00:28 30 22 22

21

81

30

-

por doz. 34

H

35

lb. 70

45.

18

26

96 · 24

25

00

24

80

"48

28

#

61

each 08

Poultry,

肥騈绣

Duck

28 20 18

Doves

* each

25

20

18

Eggs, "Hen '(cooking) --

80

22

Egge, Hen (fresh)

44 80.

35

Fowls, Canton

36

20..

Fowls,, Hainan

per get 15

Geose

each BS

30

Pignons, Canton

$1.00

---$1.51

+

lb.

24

24

-

18

Salpe

ench 10

12

Pheasant

15

10 12

25

.20

42

Ib.

24

14

t?

10 6 7

set $1.20 $1.00 $1,00

羊排籽

b. 30

26

36

###

A

。,,

排後班

34

"

82

30

Per wet 8

ib.

each 12

И

15

*****÷88182 IN TERGARAN IONS”.

Ih. 75

60 each 25 pair 1.80

each 30

95

Quali Partridges

Almonds,

Fruits.

Apples (California)

Bananas (bride'a) ... MUTE

Carambola

椰

- each -12

#mlb.

仁:狗。

40

24

»

#F. b.

***

Vegetables, &c.

(Shanghai)

Brinjos, Green

Red

Cabbage, Chinese

Care Shoots, bunch

Cauliflower (Large) .. K20A

(Medicm) 中國榮花

2 x 18

· ឆ ន គ ផ គ .|. អ ន គឺ៖ | | | | | | | |

རྞྞ ཿ སྐྱུ ཀྱཱཿ ཥུ w ཤྩ ། ། | ༄ སྨཱཊཿམྦ|1

12.

10

30

30

15

12

12

18

Coconuts

28 15

18

፡፡

Lemons, Chira....

14

18

31

cách 15

10

Lemons (American}

金山樺線 ench 19

13

3

Lichces, Dried

CO

ib. #5

24

Oranges (Canton)....

36

Oranges....

36

#

42

70

Pears (Canton)

25

Peanuts

2 沙 花

18

生

14

per est 85

70

Persitsmons, Large

*C 钻

14

10

Plantsia

**

"

Б

*

45

25

**

Punelo, Siam

cach 15

踏

16.

23

22

Walnuts

* lb.

22

牛油

30

18

11

Multon

羊油

36 20 26

Grapes

65

12

M

11

22

20

Vaal

Shuangas

牛仔股

28

TI

No. 1.

Fish.

Artichokes

鴉花竹 each

蛇

1b.

44

18

*24

Bean.. Sprout

1b.

5

12

8

Long

屁

34

20

16

Beet Root

12

Canton Fresh Water KIRKK

Bitter Squash

8 24

Fish D

24

www.

-8 5

Carp Catfish

M

魚

13 36

16

· 36

18 27

"

*# 12. 9

35

10

17

tr

98 23

26

H.

35 10 27

10

23

10

(Small)

n

椰菜花

8

20 10

Carrotą

15.

10

5

28 10 8

10

10.

·

34

16

橡椒

24

25

5

15

32

10

8

16

10

10

60

25

30

漈花輟

10

.&

12

08

32

25

d

20

B

28

40

30

& 2

Cucumbera

28 22 18

10 6

8

Garile

30" 13

23

18

7

30 18 16

14

10

52

92

13

40

8

58 52 24

45

31

32 21

•

33

20 20

10

33

13

2

Mandarin.

12

30

12 2

40

20

14 0

14

26 30 16

30

洋您生 生

8 8

$

32

38 20

Shanghai

上海班

0 G

40

ав 30

Parsley

荩榮

45 60

37

86 45

Potato, Sweet

5

64. 10 14

Japanesa

+3

日本騙仔

4 8

+20 10 14, 28 15 18

American

金山仔

"

32 22 10

tr

Pumpkin Radish

5

4

紅蹉荀仔

48

86 30

*

Dace Dog Fish Tels, Conger

Fresh Water

fu

Follow

For the moment the gold outlook has improved as in a result of the appreciation sterling, and while it would be rather too optimistic to conclude: that the problem is nearing solu- Frogs tion, something bordering on the Garoupa sensational will have to happen Gudgeon before the Bank loses the gold it Terrings lost between August and October Halibut last year and the position becomes Labrus dangerous.

Loneh Following their recent deprecia-Lobaters tion to 25.00%, Swiss francs have Mackerel developed a considerably firmor Monk Flab tendency during the past day or Mullet two, and have now moved up again) Oysters to, 25.04. Many and varied havo Parrot Fish been the suggestions put forward Perch to explain the strength of this Pike

Tourist requirements, Plaice currency.

operations by the Bank for Inter-Pomfret, White national Settlements and reported Pomfret, Black moverents to Switzerland of Ger- Prawns man capital bave all been given as Ray

Rock Fish contributory factors.

Neither the tourist requirements Roseb nor the B.I.S. operations (if any) Salmon have been sufficient to account for Shark the appreciation of the currency. Skate The true facts are that Switzer Shrimps land is in an extremely strong dnapper position. It benefited by the War, Solas it has large short-term funds in Tench

Turbot vested abroad.

AUSTRALIA'S FIX.

"LIVING LIKE EASTERN.

POTENTATES.”

Turtles, small, fr. water

i.

#8~g## e garend#SOLVERGGsgerjes❀tEASES

****

**SEEBO EIEBXBPOT$*LEONKROERHOES2422EBHBKN

K: DE

·魚魚魚魚脚

other countries does not encourage immediats optimism about the

Green

***

16 9

Celery, Chinese

Chillies, Dried

Red

Curry Stull, English..

Ginger, Young

Old

Horseradish, Shangba!

Indian Corn

Water Chestants

Mushrooms, Fresh Okrocs

Onlars. Bombay

Green

老

38

40 28 28

22

28

30

26 85

82

18

12

06

40

Lettuce

竹类飞疝瓜瓜瓜菜菜笋花花花笋椉千椒椒料瓜廎辉线,米鸡赜蹛 张楚哦菜薯仔杆瓜仔类览杂茄监茍

ench

8

8

14

10 T

€

i

18 B 10

18 10 10

732 80

Rhubarb (Frash)

Shallots Spinach

Tomatoes

Toros

Turnips, Punti (Long) Vegetablo Marrow

Water Cress

Water Lily, Roob.....

Canadian Cattle Re-enter England

6 16

ཋས།|ཡ

future.

Australian War The

debts amonnt to Melbourne,, August S.

£282,000,000, upon Trades union officials estimate which, since 1918, £205,000,000 has the number of unemployed, in been paid in interest, War- pen- Australia at 180,000, and the num sions amount to nearly £8,000,000, ber of employed last year as and their peak has not yet been 1,854,000 men and 865,000 women. reached, as in the current year boys and girls.

they Increased by £1,000,000.

Similarly; old age and invalid These unexampled unemploy ment figurds are partly due to toe pensions are increasing, and, in winter and the repercussion of the the current year, are costing At present the old disastrous coal strike in New £11,400,000. South Wales; but these causes age and invalid pensioners are al dwindle in importance compared most as numerous as the unem- with the economic and financial ployed, and approximately half of factors upon which future calcule the people who Have, reached 60| tions are being exclusively based, live wholly or in part upon the

Two years ago Australian ex- Government's charity,

worth ternal credits were

That these conditions were un- £199,000,000; last year they de foreseen by the majority of Aus- clined to £167,000,000; in the cur tralian politicians, whether rent year they are expected to Federal or State, is manifested by amount to no more than the utter lack of preparedness to £54,000,000, Secondary industries deal with them One Victorian would be in a position to make Labour, Minister admits: up some of this lost wealth, were have been living like Eastern it not for the substantially reduc potentates, and we are all equally ad spending power of the com- to blame." munity.

Measures are being taken to her serious financial position; The future depends upon the Certain sheltered industries, esse the distress. Now South Tasmania is being helped by the ability of people and politicians to such as sugar and cattle, are prov Wales is raising £8,000,000 by Commonwealth; Western Australia realise the necesalty for concen ing a handicap rather than the re- means of a tax of 8d. In the pound; and Queensland are the least trating on an increased export verse. It is from her primary in Victoria in raising $800,000 by a affected, partly owing to the ab- trade which will involve the cut dustries that Australla draws her penny tax. These two amounts sence of uneconomic secondary in-ting down of the costs of produc- chief wealth, and the products of probably represent the proportion dustries consequent upon the un- tion, the reducing of overbead some of these, notably wool, are of unemployment between the two crowded state of their towne, part charges, and by living lens "ilke now selling at prices below the States South Australia faces the ly owing to sound government, Eastern potentates. Even so the Improvement can only be gradual. cost of production. The plight of problem with tied hands. owing to notably in Queensland.

anadian best will re-enter the Market, Montreal, to swalt ship

British market for the first ment to the old country. Shippers of livestock believe that the Brit- time since 1928 with the shipment ish market, dead for the past few from Montreal recently, of 128 years so far as Canada was com bead of grade Herefords and cerned, cace more offers remark shorthorn steers, bred in Ontario able opportunities to Canadian and now, consigned to a firm of breeders.160,000 head of cattle The and 62,000 calves, in addition to Importers in Manchester. majority of the steers were raised 29,000,000 pounds of dressed beef, on the farma of P. J. Haury, of ware shipped from Canada to the Ridgetown, Out, and A. J. Camp- United Bintes last year, but for the bell, of Dutton, Ont, and were future such trade is o ̈severely, brought on the Canadian Pacific bampered by the unfavorable Railway to the Eastern Cattle American tariti,