1938-08-10 — Page 16

TO DAY

鳳

GoEMPRESS to limerica, Europe

Houg Empress Kong

Fof

Shang- hai

“Nuga-

· saki

Kobe

Leave

Arrive

Leave

| Leave

Aug. 23

Bussia Sept. 2 Sept 1 Sept.

Japan Sept. 16 Sept. 18

Canada Aug. 18 Aug. 20

Honolulu

Leare

Leave

Van-

couver Victoria Arrive

Aug. 25 Sept. 1 Sept. 6 Sept. 8 Sept. 10

Sept. 19 Oct. 4 Sept. 21 Sept. 23 Sept. 29

BOOKING PLANS FOR 1939/97

ARE OPEN

MAKE APPLICATIONS EARLY

THE CHINA MAIL, AUGUST 10, 1938.

891 01 1ZIJA HAM AZIIHU 2HT

FRENCH BANKER REVIEWS

ECONOMIC OUTLOOK

RIS TO DAY

THE FORMER GOVERNOR OF THE BANK OF TRANCE, M.

· CHARLES RIST IN A PREFACE TO ANNUAIRE DE LA REVUE DECONOMIE POLITIGUEL DEALS WITH THE “ECONOMIC AND FINANCIAL SITUATION IN FRANCE AS IT WAS IN 1987, AND THEN FORESHADOWS THE PROS- PECTS OF THE FUTURE.

M. Rist admite that, during the first few months of the current year, cer-

tain symptoms, of improvement were 3: LOCAL SHARE

apparent, but he makes earnest reser- vations about the future.ne 14

Two main obstacles seen to M. Rist seriously to inhibit economic rehabili tation, not only of France, but also of the rest of the world:

a (1) The policy of continuous increase of customs protection in France, which is maintained despite the totally chang- ed economic position due to successive devaluations of the Franc. FOT

}

(2) The British...gold policy, which prevents the economic consequence of increased production of gold and there- by neutralises endeavoury "át económic stimulation from which the world would otherwise soon profit.

"After the devaluation of October 1936, which brought about, the appro- ximate alignment of French and foreign prices," declares, M. Rist, "one might

to secure accommodation-desired,UVAI have hoped that France would profit

VATIT

Air-conditioned equipment on C.P.R. Trans-Continental Trains. Frequent Canadian Pacific Atlantic sailings to European ports.

TO MANILA

DO

Empress of Canada on Thursday, August 11th

AT 6 P.M.

Canadian Pacific

Union Building

*SPANS THE WORLD Telephone

20752

INDO-CHINA STEAM NAVIGATION

from the general (Improvement-in-the world economic situation paid BAD YEAR

In actual fact, there was a certain improvement in first months of 1937, but extraordinarily high rates of inter- est, which were retained in consequence of the constant issue of State Loans, and the almost parallci increase in the cost of living, Ted as early as March and still more so in June to exactly the opposite tendency,

Industrial production sunk below that of 1986, unemployment again in- creased and the output of consumption industries noticeably declined. Under the influence of increasing State expen- diture, the flight of capital reflected public uneasiness.

Following is the list of changes and enquiries in local share quotations this morning:~

+

b CANADIAN BANKS

Hong Kong Bank (Lon, Reg.) £88

1 PRAL FISHIPPING ANA

H. K. Steamboats $22 b., $22/23.

82.

Union Waterboats 39 5. SLUTTADE DOCKS, WHARVES, GODOWNS, ETC.

Providents (Old) $8%b1 Providents (New)$340 b

ESKO MININGMA KURU Rauba $9.70 b.

Venz: Goldfield $8 bi Antamoks Ps. 88:80 a Atoks Pa. 30 aa.

Baguio Gold P21 sa. Benguet Consol; Ps. 11:30: sapat Coco Grove Par43 BASINE MIL San Mauricio, Ps, 49s8. United Pardčáles' Pà: „32_să...

LANDS, HOTELS & BLDGS. H. K. Lands $38. b., $38.40 s: $881⁄4

H. K. Realties $6% b., $5.85 s..

PUBLIC UTILITIES

Peak Trams) (Old) $6% 5,0 Yaumati Ferries (New); $24. 88. China Lights: (Old) $11.10 b. China Lights (New) $8 b.* H. K. Electrics $60, b., $601⁄2 ša.

BUT INDUSTRIALS

H. K. Ropes 84-b

STORES, ∙ &C. Dairy Farms $25.20 b. Watsons $7.40 b.

MISCELLANEOUS Constructions $1%- b. ***

H. K. Govt. 4% Loan 5% pm. b. HK. Gort 85% Loan 1%pm. b.

CONSOLIDATED

China Prov. (Old) $7 b. China Prov... (New) $6.80.b...

For this state of affairs, M. Rist makes two circumstances responsible, one of them arising from foreign poli- tical, and the other from home causes. The former was the sudden change that occurred in America in March and April, beginning with the collapse, in the Stock Market. This change was first attributed to the sudden suspen- sion of speculation, but market move- ments were but the preliminary act of a real depression that, little by little, spread to every sector of the American Ah-yau, a 59-year-old seaman, Chiu' economic life."

The consequences showed themselves

DRUG TRAFFIC

Four Shanghai Chinese, Chan

a Wing chịu. Ba, Cheung Chungbun,

in all European countries, for not only 41 and Kwan Hoi, 43, this morn- in France, but also in England and ing appeared before Mr. R Ed- Paclanjakalid¶® moreoff J | Mid-European countries perhaps with wards at the Central Magistracy,

the single exception of Germany-the

fects.

EL CONGEAL-ew American crisis had noticeable of for possession of 225 taels of raw opfum at No. 169, Gloucester Road,.

ARUR & OKUVIET

FRENCH POSITION

CO., LTD. NOW THAT WE ARE IN THE In France these consequences MIDDLE OF HOT WEATHERMAA MOST PEOPLE FEEL THE WANT OF A GOOD RESTFUL HOLIDAY AT

third floor, M had

AMO been particularly reinforced by Inner- 23130 which the businessman found him. 39A self, not only regarding costs of pro

nolitical events. The uncertainty in

2

The hearing was adjourned. Another Shanghai Chinése, Ng Yan-kam, aged 35, wag- remanded when charged with possession of

duction, but also periods of delivery two hundred and fifty taels of raw dot had been increased the introduction oplum at No. 170, Gloucester Road...

the 40-hour week.

* This parallel--in the course of the Sentence of six months" hard. kawalve what fin? AZ AZTUDA crises at home and abroad, resulted in labour was passed on Chol Bing, a Here is a good selection of trips which an appreciable decline in the well-be young Chinese, at the Central Ma- 27809 Ading of the whole country and of the gistracy; for possession of 229 we offer

period bmi OAXAT MY KAT working population in particular.

Hong Kong Japan

ZUTA. ZEN M. Rist then points out that in the heroin pills at a house in Jervois.

$175 first fexmonths of 1998, there were Street.

(Round trip 16-17 days includes stay on board), moles Hong Kong, Tientsin, Hippeas

Via Swatow, Shanghai and Chefoo (Round trip, 28 days)

$250

Hong Kong/Taingto$120) vant parind cai yahamud (Each Way),ki je bellied AlarmUA

Autondlaid bon vanby2. „onsḍcivil ·

Hong Kong/Singapore

(Returst Fare)

V110

$175

JAD VARA, OH CAM BANATA PALM TU TAO1 ba Tertent Hong Kong Sandakan (Return Fare) $20

$200 (19-20 days the road trip); void kinky ASUUTER OTAC umeor baad SPAJ Teater

FOR FURTHER PARTICULARS "APPLY TO:

JARDIN

MATHESON

:

signs of a decided improvement.. To

Chan Wah, 321 was fined $100 or ensure continuation of this tendency pr in future, it would be enough toobs two months, for possession of two- tain the necessary guarantees for the taels of non-Government opium at stability and security of the currency the Western Murket wharf.

But M. Rist shows himself pessimis Wong Yee 40, married woman.- tic about the possibility of sthist and

criticises in particular the called was reminded for 24 hours, charg "Protective Policy of the French Goyed witte possession of 15 pounds of ernment, which is maintained despite dutiable tobacco at Hillier Street. the changed econòmicTM situation's Thà

3100 was, allowed, juia-t Franc devaluation hath not only brought Bill, French prices, withricertainrrærelsex<lumnya, pens ceptions, to the same level as

theCharged foreign gold-prices, but had even kept them, in part 10 to 15 per cent. lower

CRUCIAL POINT".

with trespassing on mili- tary, ground at the Shamshiupo: Camp three women; WongTM-Kam,- Here is the crucial point at which 40, Tai Mai, 29, and Chan Chiu- lever must be applied toʻrkise the pros- perity of French economy. To increase in 28 were this morning bound exports, decrease the deffelt in the ovens. foreign trade balance and thereby, to pro

facilitate the inflow for babital, is the For running an unregistered fac- best means of reviving economic addedemat

tivity. "II" in addition Anerican eco fry on July 14 at No. 63, Po Kong nomic, life improves":

the world deRoad,ground floor, the manager of ill be now the Kwong Tak-loong" Floor3Mill, Improvement. Was this morning Aned, 860****

that such

LW Hume, of Nor##110,

reported the ed at $20, from