1934-08-16 — Page 12

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NINETIETH YEAR OF PUBLICATION.

HONG KONG, THURSDAY, AUGUST 16, 1934.

PRICE LEVEL OF COTTON,

Bankhead Desires 13 Cents Per lb.

NOTE TO ROOSEVELT

Washington, To-day,

- Senator John H. Bankhead, an- thor of the Bankhead Cotton Con- trol Bill, has recommended that President Roosevelt should sus- pend for psychological reasons, all processing taxes and fix the price of cotton at the present level of 13 cents per pound.

Senator Bankhead argues that not so much money is needed to finance cotton marketing and con trol next year, and pegging the price would carry the cotton price) over the usual sagging during the period of marketing.--Reuter.

UNITED AIRCRAFT CORPN. AGAIN REPORT LOSS

New York, to-day-The United Aircraft Corporation's report for the second-quarter shows a loss of U.S.$1,257,536, against a loss of U.S.$783,457 for the previous quar- ter and a profit of U.S.$848,258 in the second-quarter of last year.— United Press, per S. E. Levy and Company.

•

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SPECIAL TO CHING MAIL.

Washington, To-day.

The National Recovery Ad- ministrator, General Hugh John- ston, has proposed a board of directors to manage the future of the N.R.A. He is willing to serve as chairman if President Roose- velt, desires,

The Secretary of Commerce, Mr. Daniel C. Roper, has planned a board to co-ordinate the Com- meret and the N.R.A. advisory board's efforts.

General Johnston said that the N.R.A had outgrown one-man control and suggested that the present Advisory Board might become the administrative board.. United Press, per 5. E. Levy and Company,

DROUGHT DAMAGE

(Continued From Page 1)

Tugwell's Appeal.

SPECIAL TO CHINA MAIL.

MORE OPTIMISM ON

WALL STREET.

Traders Still Hesitant.

· SPECIAL TO CHINA MAIL (By Telegraph, Copyright, Telegr phic Messages Ordinance, 1895. Re ceived August 18, 10.05 a.m.)

New York, To-day. Wall Street traders are optim- istic, but inactive.

Favourable market factors yesterday were the home mo- dernisation flip, and the pension retirement suit which spurred rail buying.

Unfavourable factors were the retail sales which are. lagging, in some districts, and the drought which is hindering the planting of winter wheat United Press, per S. E. Levy and Company.

COLGATE-PALMOLIVE DIVIDEND

Jersey City, to-day-The Colgate. Palmolive Company has declared its regular

dividend quarterly

of US$1.50 per share on preferred stock. The Company's earnings for the first six months of this year were approximately U.S.$9.76 per share (preferred).-United Press, per S JE. Levy and Company.

GASOLINE PRICES EASIER

By, Telegraph. Coupright, Telapr-average of crude oil production in shic Meranges Ordinence. 189. ceived August 10, 10.05 am.)

Washington, To-day.

BRITISH TRADE IMPROVES

New York, to-day-The daily

the United States last week was 2,506,850 barrels as against 2,451,- 300 barrels for the previous week. The United States Assistant

A Chicago mesouge states that gas- Secretary of Agriculture, Profes-oline prices are easier.-United New York, to-day.-Mr. H. 1.

G. Tugwell, in a Press, per S, E. Levy and Com- Harriman, the American publie sor Rexford jutilities Magnate, has predicted a speech, yesterday, at Clemson, pany. moderate business Increase In the South Carolina, to cotton farmers, Autumn, while Mr. William Green, declared that they must decide to produce President of the American Federa whether to continue

(Continued from Page 1) tion of Labour, has predicted afor export and also on the quan-

Exports for the seven months, substantial volume of recovery-tity they intend to export, if any. United Press, per S. E. Levy and "A difference of a few cents in were £223,048,967, an increase of the 1994 price should not blind £17,820,891 on last year, and an Company.

you to the fact that the future increase of £6,721.943 on 1982. [of this continent may depend on Re-exports for the The forthcoming wedding is in- nounced of Ludvik Knige, Physical your decision," he said.-United months were £33,135,872, an in- Director, of No. 3 Morrison Gap Road, Press, per S. E. Levy and Com-crease of £3,624,894 on 1933 and

of £500,962 on 1932. Hong Kong, to Misa Lida Pianko, pany.

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