NEW CURRENCY RESTRICTIONS IN SHANTUNG
Shanghai, To-day.
GOVERNMNET POLICY ON NEW CITY HALL
(Continued from Page 1) gramme that the balance of about $889,000 in the Government House and City Development Fund should The Peiping "Provisional Govern- go some way to meet the contem- ment" has decided to impose simi-plated expenditure of the new Gov- lar export and exchange measures as are now in force in Tsingtao at Weiheiwei and Chefoo, the other main ports of Shantung.
ernment House, but would certain- ly not be sufficient to meet it all. It was also demonstrated that there might be further receipts from the
sale of the remainder of the .old City Hall site and possibly other The object is to maintain the ex-portions of the area covered by change value of Federal Reserve the original scheme; but the gen- Bank notes.
eral principle of a self-contained
It is, therefore, necessary "to scheme financed wholly from the acquire export permits and to ob-proceeds of sales of land in that serve exchange regulations", mean-area no longer appeared practic- ing that foreign exporters must able; accordingly it was proposed sell exchange acquired from exports that the re-building of Govern- to the Yokohama Specie Bank at anment House, and the provision of official rate which is considerably other public buildings on the sites higher than the actual rate.
in question should be financed
The Embassy spokesman main-from revenue, and that the balance tains that no discrimination is be-in the Fund should, as a prelim- ing made between Japanese, Chin-inary, be transferred to revenue. ese and foreign exporters.
It is learnt, however, that two British vessels, sailing from Che- foo
to Shanghai were forced to leave without cargo as the authori- ties refused to grant export per- mits owing to refusal of foreign exporters to settle exchange through the Japanese bank.
and
FORMAL SANCTION "The intention to proceed at once with this plan was stated by in his the Financial Secretary Memorandum on the Financial Position published in connection with the estimates for 1939 referred to also in his speech in Council introducing these estim- This restriction is only being imposed at Tsingtao, Weiheiweiates. The present bill is, there- and Chefoo. Tientsin is not plac-fore, only intended to give formal ed under these regulations, pro-sanction to a plan which has bably because with the foreign con-ready received the tacit approval cessions, foreign banks are able of Council.
to transact exchange business "In effect, the original plan freely. Trans-Ocean.
(Continued on Next Col.)
POWELL'S WINTER
SALE
NOW PROCEEDING
This year it has more than a special claim for your atten- tion. Owing to the mildness of our present winter an unusual amount of goods are being offered at Bargain Prices. mention a few.
HALF PRICE Underwear, Hats, Caps, Ties.
SHIRTS & PYJAMAS
Fancy Tunic Shirts at
$3.25 (3 for $9.00) $5.75
Dress Shirts Sports Shirts Pyjamas
$2.75 6.75
(Usually $10.50)
BOOTS & SHOES Oddments in Black & Brown at $9.75, $12.75, $14.75 White $1.95 & $5,75
33% %
We
Discount off Regular Prices. Overcoats, Ready-to-wear Suits, Travelling Rugs, Pull- overs, Sweaters, Slipovers, Waistcoats, Dressing Gowns, Gloves, Scarves, Suit and Attache Cases.
SOCKS & HOSE.
A large assortment of Plain and Fancy Cashmere at prices.
$95 c., $1.45, $1.75, $1.95
al-
Grey Flannel Trousers ✨. . $10.50
20% Discount will be allowed off all other regular
stock except a few proprietary articles.
Wm. POWELL, LTD.
10, Ice House Street.
Open until 6 p.m.
THE CHINA MAIL, FEBRUARY 2, 1989-
OPTICIANS to the Colony
for
47 years
Lazanus
STOP PRESS
in
sites of re-development of the
question has been abandoned and it is proper, therefore, that the scheme designed to finance it should be declared as abrogated: it follows that the preservation of a fund created 'ad hoc' would not only serve no useful purpose it would actually be misleading.
"At the same time I have Your Excellency's authority for saying that the Government does intend in due course to provide a new City Hall for public use in the Colony. THE RIGHT SITE
"One of the great difficulties, however, is to find the right site. Neither what remains of the old site nor the site suggested in the scheme now foregone is adequate in area or suitable in situation, and until more land is rendered avail- able by the removal of the present buildings below Government House or in some other way, it is imprac- ticable to proceed with the actual construction of a new City Hall.
"That must be considered as part of a general scheme of re-planning of the area which is to be made available.
"It is pertinent to refer, in this connection,, to the speech made in Council by the Honourable the Senior Member on 10th November when he indicated that the unof ficial members supported the pro- posed building of a new Govern- ment House' on the ground inter alla that it is an essential-prelim- inary to the re-planning of this
'aren
TAL
CONTINENTAL
STURDY
STRONG
CARLOWTIZ & CO.. Queen's Rd. Tel. 31225
IOPTICIANI
6, Pedder Street (Opposite the Hong Kong Hotel)
TEL. 20022 or 33993
PROVED
AND
IMPROVED
Westinghouse "Katakom porovnat
AETRIGERATOR
DAVIE, BOAG & CO., LTD.". 8, Queen's Rd., C TOL 28116
Printed-and- Published for the Pro- prietors. The Newspaper Enterprise Aide, by Gordon, GADE HULKETT, M. BA. Vyudham Streak, Victoria” Hong Kong.
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