1931-02-27 — Page 9

FRIDAY, FEBRUARY 27, 1931.

POST OFFICE NOTICE.

INWARD MAILS

FRIDAY, FEBRUARY 27. U.S.A., Canada, Japan, Shanghai (Seattle,

Feb. 7) and Europe vin Siberia (Lon don, Feb. 7)

Amoy

Manila

Japan

Shanghai and Swatow

Japan

F

.President Cleveland

Takada .Empress of Russia

.Tjikarang

Chichibu Maru

.lfo Sang .President Lincoln

SATURDAY,

FEBRUARY 28.

.Tjipanas Sinklang .Heiyo Maru'

SUNDAY,

MARCH Shanghai, Amoy and Europe via Siteria

1.

(London, Feb. 9)

Jupan

MONDAY

MARCH

2.

Calcutta and Straits

Manila

TUESDAY,

MARCH

3.

Batavia

Straits

.Tjlbadak Cremer

Japan and Shanghai

.Chenonceaux

WEDNESDAY, Australia and Manila

MARCH

4.

.St. Albans.

OUTWARD MAILS

FRIDAY, FERRUARY · 27.

Chinhun

Tilawa

Malwa

Bangkok

Amoy, Shanghai and Japan „Straits, Ceylon, India, Mauritius,

E. & S. Africa, Aden, Egypt & Europe via Marseilles

K.P.O.

l'arcels ...... Feb. 27, 4.30 p.m. Registration... Feb. 28, 9 a.m. Letters

10 a.m. *Manila, Rabaul. Australia and

New Zealand via Brisbane

SATURDAY,

Hoihow, Pukhai and Haiphong Straits and Calcutta

Saigon

potic

SUNDAY

Swatow, Amoy and Foochow MONDAY.

Japan, Canada, U.S.A., C. and S. America and Europo vía Vic- toris, B.C.

5 p.m. 5 p.m.

(Due Brisbane, Mar. 17.) Parcels... Feb. 27, 5 p.m. Registration Feb. 28, 8.45 a.m. Letters

9.30 a.m FEBRUARY 28.

Kiungchow

THE CHINA MAIL.

INCREASE IN TAXES STRANDING OF S.S.

EXPLAINED.

Further Imports May Be Necessary.

NEW LOAN MOOTED.

At the meeting of the Legislative Council yesterday, the recent in- erense in wine and tobacco, duties were duly sanctioned. The Colonial Secretary explained that the big do- ficit in the 1931 Estimates had made them necessary.

Further, an increase of postal rates was under consideration, "and if the Colony were to eprry, on with its very pressing water scheme, and others of similar vital nature, the money would have to be pro- cured by means of a loan.

Reasons For Increases. Introducing the motion, Colonial Secretary said alia:-

the

inter'

|

HIGHLAND HOPE.

Master's Licence Suspended.

LOG DESTROYED.

London, Yesterday. The Court of Inquiry into the stranding of the liner Highland Hope last November, has found that the stranding and subse- quent loss were due to failure by the master to navigate his ship in a proper seamanlike manner, and has suspended his licence for six months.

EXCHANGES.

HONG KONG STOCK EXCHANGE

Opening Daily Official Quotations 27th Feb., 1931.

AMILY

Lan dividend and when paid

STOCK

BuySell Sales Nom. P

orn

NR

Chartered Bank ................k Mercantile Bk., AKO. £ c. Z

+

Insurances.

Buri

TO-DAY'S. QUOTATIONS.

4a London Bank, wire

11 Bank, on demand... 11 Bank, 4 months' sight 11, 1/16 Credits, 4 months'

sight

Banka.

11 11/10

Hong Kong Bank ..............‡

Documentary, months" sight On Paris-... On demand 1 Credits, Bight

On New York— On demand

4

11 18/16

5672

Bank of Asia116

mouths*

607

Canton Ina.

$1200 1300 1800

221⁄4

29

Union Ins.............

•China Underwriters...$3.00

China Fire Ins.......$595

... 640 645

61%

61%

Ou Calcutta-

H. K. Fire Jan. ..............$

Shipping.

1803 1805

Wire

61%

On demand

81%

Douglass ...............$ H. K. Steamboats ...$

... 18

On Singapore -

... 1202

a

On demand

89%

Indo-China (Pref.) ....)

On Monda

(Del.)...

On demand

44%

On Shangħint---

It considered the second officer remiss in his duties; and decided that the owners cannot be ab solved from all blame because a master at such an age cannot be expected to stand the physical strain of commanding such large passenger vessel.

Credits, 60 days

sight

On Bumbay-

Wire On demand

a demand........ Tls. 76% Dollars ....... 449%

On Yokohamon--

On demand Sovereigns

(Bank'a

45

111⁄2 12 7/16

Nominal, Nominal 3% prem.

314% pa. chinese Sub. Coin 25% dia. Hong Kong Sub. Coin 4% dia.

LONDON EXCHANGES

Rugby, Yesterday.

123.95/ 4.85%

The Estimates for 1931 as ap-

Officer Reprimanded. proved by the Legislative Council The Court severely reprimand- showed a deficit of $2,299,000, the ed the chief officer for concealing dollar throughout being calculated the fact that he had brought the at 1/4d. The sterling commitments deck scrap log ashore; and for of the Government-for 1931 amount subsequently destroying the log. to £677,000, and the dollar at an The Court commended the average of 1/ throughout the year fourth officer, Mr. Parry, for will mean that a further $3,388,000 courage and resource in dealing Silver (per oz.)

buying rate) (Duc Marseilles, Mar. 27.) must be added to the deficit-mak with the situation which arose Bar Silver in Hong

G.P.O.

ing a total deficit of $6.687,000, due to an accident to one of the Parcels..... .Feb. 27, 5 p.m

Kong The method of paying Government lifeboats.--Reuter. Registration Feb. 28, 9.45 a.m.salaries one half at 1/64 and one

Copper Cash. The 14,000-ton British motor-Copper Cents Letters

.10.30 am. half at the current rate is calculat-liner Highland Hope went ashore Rate of Native In-

ed to reduce this figure to on November 19, and the passen- Tunda

terest ... $4,200,000: and an effort is being gers took to the lifeboats, all be- made to econoinise still further by ing rescued subsequently. The the exclusion or postponement of Highland Hope struck a danger- approved items of expenditure, to ous reef in a dense-fog at four result. it is hoped, in a saving of o'clock in the morning, off the a further $1,000,000. The deficit coast of Portugal, and at first the would thus be reduced to $3,200,000. captain refused to leave the Effect of Dollar Drop. bridge, hoping to save the ship, Had the dollar remained at 1/4d. which, however, became a total the estimated deficit of $2,299,000 loss. The Highland Hope was one would have been reduced to of the latest accessions to the $1,900,000 by the half and half fleet of the Nelson Steam Naviga- method of paying salaries to which tion Co., Ltd., whose "Highland" I have already referred, and which line comprises a number of fine was introduced after the approval steamers. of the Estimates. The added deficit at the average rate of $1-1/- over the deficit at 31-1/4d. Is therefore $1,300,000; and it is this sum that the Government considers it neces- .4.16 p.m.sary to provide, with a view to re- 5 p.m.storing the position that was con- templated when the 1931 Estimates were framed and approved.

10 a..

Feb. 28, Noon ....1 p.m.

Takada

Parcels

Letters

Halvard

Pres. Cleveland MARCH 1.

9 n.m.

Canton Maru MARCH 2,

2.30 pm. 4.30 p.m.

President Lincoln (Due Victoria, B.C., Mar. 20.) Parcels.......Mar. 2, 3 p.m. Registration Letters

-Shanghai and *Europe via Siberla President Lincoln

Amoy

.TUESDAY,

Manila and Java via Sourabaya. Hoihow and Bangkok

Registration

Letters

Ho Sang MARCH 3.

Tjikarang Kiangsu

"Superscribed correspondence only.

.Mar. 2, 5 p.m.

.......6 p.m

5 p.m.

9.30 a.. 10.30 d.m

LOAN REPUDIATION. South Australia favouring it, while Queensland. West Australia, and Tasmania opposed.

SEQUEL TO THE PREMIER'S POLICY.

SECESSION MOVEMENT,

Sydney, Yesterday. As a sequel to Premier Lang's loan repudiation policy, Mr. Page, supported by the Country Party in the districts concerned, paigning for the secession of the

jy eam-

The resolution declared that the Commonwealth Government should furnish £1,000,000 a month to pro- vide employment on reproductive works, and £6,000,000 to provide a bounty on wheat and relieve the distress of wheat growers.

The Federal Government will Introduce legislation to create au issue of fiduciary currency limited this purpose. to £18,000,000, to be devoted to Advances from the

To meet this requirement, an in- crease in the opium prices has been already approved and published; and it is estimated that $200,000 in a full year and $166,000 in 1991 will be derived from this source. The resolution before you repre- sents an increase in the rate on beer and kindred liquors from 40 cents to 60 cents a gallon, and a reversion for the rates on tobacco to those obtaining before the last increase which was effected in 1930. Liquors excepting beer, but includ- ing Chinese liquor imported into the Colony, keep their rates as set out in silver currency unchanged, but the ten cents per gallon rebate allowed on the export of locally dis tilled liquor is withdrawn,

In the cases of all alcohol and tobacco, however, the duties are to be payable on the basis of $11/8d and it is estimated that beers and liquors should provide an ad-

The master, Capt. J. Jones, is 75 years of age.]

SILVER CRISIS.

LEADS TO CLOSING OF BIG SILVER MINE.

New York, 'Yesterday. A message from Mexico City the big silver mine says

at Mathehuala, employing 1,600 men, has closed as the result of the silver crisis, which has cxhausted the company's resources. ― Reuter's American Service.

*

means of a lean; and supply will be money will have to be procured by needed for the interest and sinking fund.

Reve, in a spirit of resignation ex- The community has been. I be-

pecting some increase in the assces- ed taxes, but it to keep this se

is proposed against the service

a first resorve of the loan The intention

when it is floated.

is not to raise the loan in one total Treasury Bills until it can be more sum, but to begin on an issue of clearly seen what the ultimate

Riverina district in north-east New South Wales and the estab- | fiduciary fund will be covered by ditional $350,000 during 1931, and needs of the Colony will be.

lishment of an Independent pro vince, to be called "New England." bounded on the north by the Queensland border, on the west by the Darling River, and on the south by the Hunter River.

Three Year Plan.

public loans.

To Create Employment. Mr. Theadore states that the Federal Government proposes to introduce a Bill in Parliament to

pro-

2

It is suggested that a provisional | create A duciary currency to government of the new province meat the emergency, and to should be established, ready to actvide funds to create employment. immediately if New South Wales The Premiers' Conference in defaults. It is also suggested that statement denouncing Mr. Lang's any special currency which New policy says his assertion but South Wales may issue should be Australia is paying Great Britain resisted.-Reuter.

£30,000,000 annually of war debts Over Is absolutely inaccurate. Melbourne, Yesterday. two-thirds of this sum la neces- The Fremlors' Conférence has sary to meet the debts of the ro-affirmed the r solutions with States, none which has a war regard to the three-year plan to debt. The Commonwealth's war deal with the financial problem, debt payments to Great Britain including wago reductions and a are £5,500,000 annually, in accord- tax of three shillings and sixpence | nice with the Anglo-Australian In the pound sterling on all public agreement, Australia owes Great loans which are subject to Federal Britain and the United States £678,000,000, of which the war debt The Conferenco has passed a to Great Britain is now £81,000,- resolution denouncing. Mr. Lang's | 000. repudiation polley, while voting

→Taxation.

tobacco $928,000, making due allow- ance for decreased consumption in both cases.

Mr. Braga And Profiteers, The Hon. Mr. J. P. Brage, whilst agreeing that some form of taxa- tion was necessary in order to meet the shortage due to the drop in ex- change, objected to dealers and re-

Paris New York Brussels

Geneva

Amsterdam Milan Berlin Stockholm Copenhagen Oslo

Shell Transport Union Waterboats ...$)

Mining.

Bengues ..............$

Kailan Mining Að. 4- Langkat....... (ha, S'hai Exploration.. Th, Loza.......Th.

*Raubi

Venezuela Gold Field: $ 9.60

Docks, Wharvoa, Godowns, &c.,

H. K. & K. Wharve...$

HI, K. & W. Dock... 30 South Ch. Motor ...5 *China Providents (old)$ 5.50 (new) $ 2.40 Horgkews..........Th. 974 N. Engineering ...Th. þĮ Shanghai Docke...Th. 110

Lands, Hotels &

Buildings,~

H. E. & S. Hotels...$13 H.K. Lands $5

Shanghai Lands ... Tis. 392

TIT

Humphreys (Cum Rus.) div.

Rights......$ I. K. Realties ......$19.00 Chinese Estates $

Cotton Milla.

161

121

W

2100. Deo.

#Vinal #donu

| { "a/c 1950 vr. }/11=$78,14,6} | Pending Bee. Into Im 7- Free Tax no 1030 Sop. - 80 Dec. Int. are 1630 Sep 19*

Pro. for 133 Fob 98, 81

Pre Flani, for 1923)-5 litorino Lu nợ tài

for

May 15, 80

Veerle 1923) - May 30, 30

Denne

Viral 0 bonus $5) Dee.fur 1929.

Interim #5 / 1923)

140; j $47 for 2004 momen

19.

May 80, 33 Mar.25, 89

Eko, į mot «ttri·loud for 1024.

ve, 30-50 for 1099

Mar. 6, 85

140

140.

1 fer el 1925

119. ex. 4.1 on profurred)

faon 19,97

Tul islend for 1922

79/0

S.

中古の

€1-50 for 19

Mar, 20, 30

BUILDI

• និងដន់ ខ្លី ::

18.18

яб

10

1349

31/9

fune

(later!m 2 Cupen No. 17|| Jan. 6, 31

from Tus ja 1050

(Khual 10 sonlardı

wwwking Peto 1 for 1010 Dep. 90, 30

{'Pin, 4% fres 17Th Op 881

ning for your 32-6-301 | Deo, 10, 90

Oct. 1. for gaur 1.1.190 May 8, AQ

Final T

for you. Feb. 6, 3:

Thine lot th

a'r year 11-891) payalilo

Mar.16, 31

the.

40 Mar.

maklog T. 5.

173

The

for 30

rending

Dee.

bastiken far fes.......

to.

, སྶ;ཡོ

:ཡྻུཾ།;; ཛིཙྩེ

87

34.04

26.21

12.11

92.78%

20.44

18.14%

18.15%

18.15

Vienna

84.562

Prague

164

Helsingfors

193%

Madrid

47.05

Lisbon

108.25

Athens

375

•Ewo Cotton .......Th..

**

++

15.90/10)

Bucharest

*17

Shanghai Coon...Th.

Rio

4 3/16

Buenos Aires Montevideo

97

35%

1/64

1/2 -

10%

2/- 18/92

12 7/16 12%

Bombay Shanghai Hong Kong

Yokohama Silver Spot Silver Forward-

-British Wireless Service

SEVERE SENTENCE.

APPEAL ON BEHALF OF LADY OWEN.

ACTION PENDING.

The sentence

*

Zoong Singe.Th. 18

Public Utilities.

"H. K. Tramway....$ 18 Peak Tram (old)

(new) ...$

71

Star Ferries.88) *China Light .........5241 H. K. Electrics $0 Macao

"

༄

Text offridan 1e 1924......

Ifirm susterim: V. & use fam | Ime, T 25 for 15%...............

Aq. T. 1 for your #1450,

Dec.centa in T

1.

***

Sept. 19, 30 Peading

80, 80

Apr. 7, 30

[Pin15 02 making 84 for 10301

amil $t un now isau Feb. 10, 81 Mucil T. 14

maklag T. for taso... Pending

i cant far 1990..

conte ale 103080p. 4, 82

These

Intern

Feb, 05 Mar you. **2.7) .....

Feb. 28, 31-

July 21, 30

T 073 for 193)

Pending

103

unit

(Apr. 7.43 for luill fear 11-10-30 Nov 99,80

Dat

June to Oct. 11, 80

19.1016

IN

making so cental

ƒ Elisal of Garrule) for 1930

Feb. 27, 61

chun ally for your

Apr.

inte anu

20-4-2

June 16, 80

10c.

1000

Feb. 13, 91

Dec. 15, Bo

Pending

Pending

Sandakan Light .... H.K. Teli, fully paid 512

part paid $ China Burs........... S'poreTractions(Ord.]/- ... 6/0

.

14

(Pick.}/*

Industrials.

China Sugars ...........................$; Malabon Sugars .....95

Cald Marg. Ord....Th. Pref....The.

Canton Ice

Caments (com.) semas

(old).....

111 (new).....

Paris, Yesterday. regarded in many quarters as too on Lady Owen is

an appeal to the Court of Cessa H. K. Ropes...$ 14.10 severe. Her counsel le preparing

tion, and is also said to be con- templating an appeal to President Doumergue to reduce the sentence by one or two years. she will serve the full term,

Anyhow it is not expected that

year has already been

JI

Stores, &c. Dairy Farm (old) ...$ 26.10

(new) ...$ Watsons..............................$ Der A Wing! manuā spent in Lane Crawlonds

Mackinaka

As a

Extra Postage. These Agures however will still not meet the bill, and an increase tallers putting up prices to the con- prison and must be taken into ac

in postal rates is under considera- tion, estimated to yield $166,000 in the course of 1931. The totals then become:- Postage Opfum Beer and Alcohol Tobacco

From which has to be deducted Mili- tary Contribution

.$ 166,000 166,000 350,000 928,000

$1,610,000

of 20 per cent. ..$ 322,000

$1,288,000 sufficiently close approximation to the desired total to stand for the

Loan May Be Sought,

time.

It is right to warn the Councfi

Mr. Scullin, when in England that if the Colony is to continue was equal on a resolution involv started negotiations with a view lng Inflation, the Governments of to modification of the 1921 funding tedly an urgent necessity, and other

Commonwealth, Victoria and agrcomont.—Reuter

the

with its waterworks scheme, admit-

works almost AB pressing, the

eumer in anticipation of the new scale..

count.

Sinceres Wm, Powells Meanwhile it is learned that an action by Lady Owon against

Miscellaneou return 80,000 H.K, Amuse. (C. R.)$ film producer to franca advanced to him for a film

(Right) $

*

---

ཁྐྲ:;:ནྡྲ་བློ...

for 1)

|Sept. | Vinal 34 cm s/o JT, DAS....

Ago. $2,69 (ie 1930.

Thrus

12

Jan Non

Doc.

{+0

haling 10% ale 1500 T. 9.9 for 1920

11zig om preferoner shares

i subject to income, tua.......!

Feb. 25, 80

Feb 6, 30

7 month 19 Apr. 80, 80

fec. P. for

Apr, 11, 29

(L1)

+

Jul, Noge

194

10.70

Ja mis old ke, foient now!

furu Pending

5.20

***

Bec, fast dividend for 1944

Pending

Dot. 10 out for your 37-1529 www... Mar. 91,30

(20/281)

... 24

4 ext. $3,50 for 11

***

... ₤10.101

---

| Fish | Turns (U«let:D (a,yave 25-

20

13)

12 05

**

H. E. the Governor reminded Mr. Braga that the increased liquor duties had already taken effect.

Mr. Braga suggested that a dis- in which she was to have starred Ch. Entertainment ... 151 tinctive form of label might be es a fanguishing vamp, is pending H. K. Constructions...

Accord- B. for. G$ Bands ... adopted for the new charges on before the Paris courts. wines and tobacco as distinct from ing to Le Journal, parts of the H. K. Govt, Lonni...$

"shot," but were not wines and tobacco already taken film were out of bond.

strikingly successful, and the ven-, ture was dropped.-Reuter,

⠀⠀

Jun 10.29

... 201

16

Mar. for you be

Sept. 27, 30

P

15.90 Dac. None ... 103%

... From 7%

fatsioni kalf yearly...

[Lady (Edmee) Owen, widow of | “Speculative shares. "Sulas to Shanghai, Bir Charles Owen, has

been

H. E. the Governor said he had seen the suggestion, but thought it impracticable. The making of the new labels would defeat its own ob- sentenced at Versailles An- ject As to wine dealers, they sizes to five years' reclusion, on a were entitled to protect themselves, charge of attempting the murder The resolutions were put to the of the wife of her former lover,

Dr. Gastaud. meeting, and passed.

Lady Owen is E Frenchwoman and was formerly an actress. Reclusion entails civic The Finance Committee later ap- degradation, numerous legal dis- proved votes of $37,594, as already abilities and regulations, while

severe strict silence is enforced.] detailed in those columns.

The third reading of the Estates Duty Bill was also passed

BRINGING UP FATHER

MAN LOONG.

PRESERVED GINGER MANUFACTURERS.

NEW SEASON PRESERVED GINGER Best quality-Prompt attention to Exportera. Office:-2, Dundas Street, Kowloon. Tel. 57088. Factory:-2 Godown, Praya, Dundas Street, Mongkok.

DO YOU KNOW that by paying $130,00 down

and $23.00 per mouth for a limited period

you can become the proud owner of a

GENERAL ELECTRIC

L'ETEEL REFRIGERATOR G

on view at

The Hong Kong, Electrie, Co, Ltd.

The General Electric Co., Ltd.

Wm. C. Jark & Co. Ltd

THIS IS STATION. FO.8: BROADCASTING THE DAILY NEWS» ALL TRAING FROM THE MIDDLE WEST WILL BE TWELVE

HOURS LATE ON ACCOUNT OF BLIZZARD

BOOP

Boop.

- ADCOP

MAGGIE IS ON -ONE OF THOSE)

TRAINS

1-7

*