1937-07-17 — Page 9

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DEFENDING DEFENCE LOAN

Elaine's Undressing Film Irks Barrymores

CHANCELLOR DENIES PROSPERITY CRITICISM

London, To-day.

the

The third reading of the Fin- ance Bill was' ́passed in House of Commons yesterday and during the debate, the Chan- cellor of the Exchequer, Sir John Simon, dealt with criticisms of the Government's resort to bor- rowing to supplement the main contributions provided year by year by the taxpayers.

He drew a distinction between the borrowing for immediate current needs that came to be criticised in 1931, and the present borrowing for à programme designed to give se- curity for a generation to taxpayers and which was accompanied by a large contribution from the taxpay-

ers.

ar-

of

In 1931 there was no provision for repayment. Provision now be- ing made included a specific rangement for the redemption what is borrowed over 25 years and a charge on the defence loan of an annuity.

NO DAMAGE

the

What was happening under National Defence Loan was having no damaging effect on credit.

On the contrary there was con- tinuing increase in employment, reduction in unemployment and an increase in production.

expansion of armaments.

Elaine Barrie, former wife of John Barrymore, is shown in takes from her fascinating one-reeler entitled, "How to Undress Before Your Husband." Production of the film is reported to be creating a fu- rore among the "Royal Family" of Hollywood Barrymores, who object strenuously to Elaine's being billed as "Elaine Barrymore." The Barrymores are said to be negotiating with the producer, Dwain Es- per, in an effort to suppress the reel, which shows how a wife should disrobe with grace.

THIS WEEK ON THE LOCAL

SHARE MARKETE

Messrs. G. A. Harriman and Co.'s,30 cts. is 10 cts. better than last weekly share report and market re- year and earnings are reported to view issued at noon states:-

be much improved. Had things

AUSTRIAN NAZI LEADER SENTENCED

Vienna, To-

The Carinthian provincial lead- er of the illegal Austrian Na- tional-Socialist Party, Franz Ru- dolf, has been sentenced to four- teen months' imprisonment for in- fringement of the law for pro- tection of the State.

Another defendant was given two and a half years imprison- ment.Trans-Ocean.

Referring to suggestions that slumps always followed periods of This has been a momentous week been normal we should have seen for the local share market and pos- these shares nearer $15 than the Prosperity, he said he could

not

sible repercussions of the critical closing rate of $141⁄2 cum dividend. accept such a Calvinist view when,

China have Telephones (old) a

are just $29 ex as at present, the expansion of trade situation in North was on healthy lines. He described brought down quotations sharply dividend and Star Ferries nominal- as a fallacy the Opposition criticism But the market has shewn a bravely $86 e. d. This company also re- that the present trade prosperity heart in spite of the scare cables ports better business; receipts dur- that have filled the press, and there ing Coronation week were $12,000 was of a temporary and artificial nature due to great extent to the are plenty of investors waiting to more than usual. The interim acquire our best utility stocks at dividend of $2 is the same as was bargain rates. It is our opinion declared this time last An immense and sustained im that any major clash in North Yaumatis maintain last week's

Shanghai Cottons Mill shares are provement in trade took place long China would attract capital to Hong price at $264 buyers. Consider-depressed as are all stocks in the before. He was not disputing that Kong, which will inevitably seek able business was negotiated in Northern city. Ewos are Sh$16- the additional expansion of arma-investment here. This Colony is a Electrics from $60% down to 59%, sellers, with bids difficult to obtain, ments did not increase the volume safe haven during any unrest in and if these ease much further and Shanghai Cottons offer around of our trade but it was not the ori- China proper; safer to-day than it there will be ready buyers. China Sh$119 without attracting buyers. ginal or the main cause of the pre- has ever been before because of Lights were freely sold from $14.30 sent trade prosperity and it did not Great Britain's vast re-armament down to $13%, large parcels of active up to 8s. 8d. but häve sub- follow that later we were going to plan and our Empire-wide defence shares changing hands. fall back into the depths of depres- policy. sion:-British Wirèless.

NOT ORIGINAL CAUSE

BRITAIN

SLITHERS

TO HELL

year.

Marsman Hong Kong China were

sequently eased back to 779.

Cements sold in quantity down Philippine Mining shares. This The Hong Kong Bank interim to $142, at which levels there were market is still in the doldrums and dividend of £2. 10s is the same as and still are ready takers.

local interest, with far more im- for last year and were it not for Dairy Farms are on offer at portant happenings to divert at- the Northern situation the shares $26.35, buyers - bidding $26. This tention, is practically nil. would have been nearer $2000 than company is doing excellent busi- Closing comment: Hồng Kong $1900 cum, which is the closing buy- ness and al should be bought market steady at the lower levels. "We are slithering to hell

and

ing rate. Union Insurance have sel- foring

on any decline. now ruling. we must find the way back if we lers at $625 after transactions at Watson haye buyers at $5. are to avoid the cataclysm of doom,” $6221⁄2, Cantons were dealt in at declared Dr. W. H. Maxwell Telling, $300 and China Underwriters Professor of Forensic Medicine at $2.00 sellers. Bank of East Asia Leeds University, criticising the came to business at $101, Church at Leeds.

are

Douglas Steamships still have buy- The Church to-day, he said, was ers at $47% and Union Waterboats insufficient, its personnel insufficient are wanted at $9.80. Wharfs, have therefore insufficient. reacted to $117 and Docks offer af

Manila.featureless.

and its energy,

age, and there was not, the passion pressure and were sold down ~ to ate faith and conviction among $2.05. The "New" are nomin them that there might be

ally 50 cts. Raubs exchanged at

The clergy were children of their $31. Providents (old), came under THE GLOUCESTER HOTEL

"The Church has had an innings $11.45. of 2,000 years,” he added, “and al-Hotels were heavily liquidated though I am the last to say that it from $7.10 to $6.45, but found ready has altogether failed - that would takes in between, and Realtys were be absurd it certainly is inade dealt in from $6.20 to $5.90. Lands quate to the task. S

were sold at $35 and have further

Dr. Maxwell Telling is a member sellers buyers bidding $341⁄2. of the Oxford Group Movement.

The Tram înterim - dividend

DINNER DANCE ●

ERY NIGHT (EXCERT SUNDAY)

MUSIC BY

ANDRE & HIS ENSEMBLE.