1939-03-29 — Page 21

THE CHINA MAIL, MARCH 29, 1989

U.K. FIRMS SEEK LIMITATION

OF H.K. OUTPUT

In view of reference in Parliament recently to nego- tiations with a view to voluntary limitation of imports of rubber footwear into the United Kingdom from Empire sources, the Hong Kong General Chamber of Commerce has issued a summary of the discussions held locally.

With a view to discussing the possi- ¡output of rubber, footwear was well bility of voluntary limitation of out- maintained and even in the class in put and some form of price control, which Hong Kong competed there was Mr. S. T. Rowe, representing Unitedá reasonable maintenance of output. Kingdom manufacturers, arrived in

Hong Kong early this year and held. The inference was that Homo manu- discussions with the Imperial Prefer:facturers tended to overstress the ef- ence Sub-Committee of the Chamber fects of Hong Kong competition. Their and the local rubber footwear manu-be the Canadian manufacturera operat- most serious competitors appeared to

ing in the higher priced class.

facturers.

The United Kingdom manufacturers' case was that, after the introduction of The majority of the Sub-committee the crepe sole shoe about 1924, the was of opinion that the industry would manufacturing industry developed con-benofit, both here and in the United siderably. Home manufacturera did Kingdom, if local rubber shoe manu- not reap what they considered their facturers would enter a, price-mainten- rightful share of the benefit on accountance agreement; also that, to forestall of severe Japanese competition. This agitation adverse to Hong Kong's in- was suppressed by action under tariffs, terests under Imperial Proference, it but was immediately succeeded by

would be advisable for manufacturers Hong Kong competition.

to agree to a voluntary limitation of output. The figure of 4,000,000 pairs Mr. Rowe admitted that to some ex-of summer footwear suggested by Unit- tent a market had been created, first ed Kingdom manufacturers appeared by the Japanese shoe and subsequently impracticable in all the circumstances, by the Hong Kong shoe, but declared but the Sub-committee suggested that that the presence of so many low-a figure lower than 1938 production be priced articles on the market was-de-considered.

Page 21.

CHILDREN'S PUZZLE

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ARRANGE ALL OF THE LETTERS : IN THE WORDS: "COME PLAIN" TO SPELL THE NAME OF THIS MAN'S OCCUPATION.

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THE DEFI- NITIONS ARE: 1,A SAILOR; 2, AN AIR;'3; ONE WHO UT-`

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4, A SMALL

FRUIT PIE.

Answer to-morrow.

trimental to the Home manufacturers; In view of the limited time they had who thereby lost many potential custo study Mr. Rowe's submissions, the tomers and found themselves unable to Hong Kong manufacturers only found expand their business in proportion to it possible to give Mr. Rowe an interim manufacturers could not commit them--a figure very near Mr. Rowe's last the expansion of demand. They were reply.

selves unreservedly. compelled, also, to reduce their prices

offer. The interim reply stated that the to uneconomic levels on account of the local

The Hong Kong manufacturers sym- manufacturers.

Mr. Rowe. expressed himself as rea- rogarded Mr.pathised with the desire of the United sonably well satisfied. with the Hong Hong Kong competition.

Rowe's proposals sympathetically and Kingdom: manufacturers to have a ma-Kong manufacturers' reply as a 'docu- were desirous of co-operating The United Kingdom manufacturers United Kingdom manufacturers in a thought that the

with jor portion of their own market; theyinent with which he could bargain with. asked Hong Kong manufacturers to en-system of limitation

Hong Kong share the Canadian manufacturers. of output ter into a price-maintenance agreement price control, subject to certain

and should be calculated on a percentage (with 10 per cent. increase of prices) stacles being overcome. These were:

ob-basis, and they suggested a sacrifice of und into a voluntary limitation scheme (1) The need for protection, under in 1938 which brought them to a total a percentage of Hong Kong exports for a two-year period and to undertak limited output, from the operation of 5,600,000 pairs of summer footwear to limit output to the United King- dom to

37

4,000,000 pairs of summer footwear,

500,000

plimsolls, 250,000

boots and not to develop in other lines of footwear. There would be a breaking clause in the event of the position be- ing affected by new competition com-} ing into existence elsewhere, e.g., in another British Colony.

་

in Hong Kong of new factories;

(2) The need for protection against factories elsewhere in the British Empire;

(3)

HONG KONG AND SHANGHAI BANKING CORPORATION

Authorised · Capital

.$50,000,000

Sterling

.£6,500,000

Hong Kong Currency Re-

serve ..

.$10,000,000

$20,000,000

The need for an assurance that the THE BANK OF EAST ASIA, LTD. Issued and Fully Paid-up..$20,000,000

to

share of the market allotted Hong Kong is not encroached upon by U. K. suppliers. An undertak~ ing to desist from propaganda against Hong Kong industry. As to protection from new competi tion locally and from other parts of the Empire, action by the Hong Kong Gov. ernment and other Governments ap- peared to be necessary, and until there

After various meetings with Mr. Rowe, the Imperial Preference Sub- Committee of the Chamber presented a report, which was adopted by the Gen-were assurances of effective action the eral Committee,

THE CHARTERED BANK OF

· INDIA, AUSTRALIA & CHINA

Incorporated by Royal Charter, 1858,

The Committee discussed the bear- ing of the confidential figures provided | by Mr. Rowe and showed that, from 1934 to 1937 United Kingdom manufac- turers had in fact had more than 50 per cent. of the Home consumption. It was only in 1938 that, for the first nine Paid-up Capital months, the total showed the United Reserve Fund Kingdom manufacturers' productions to bo below 50 per cent, of the total, and this might not be the case on the whole year's figures. Total United Kingdom

THE MERCANTILE BANK OF

́INDIA, LTD.

HEAD OFFICE:

15, Gracechurch Street, London, E.0.8.

Authorised Capital

Subscribed Capital

Paid-up Capital

£9,000,000. £8,000,000. Reserve Liability of Pro.

prietors

*£3,000,000. HEAD OFFICE: LONDON: 38, Bishopsgate, E. C. 2. Sub-Agencies in London: 117/122, Leadenhall Street, E. C. 3. West End Branch:

14/16, Cockspur Street, S. W. 1. Mancheater Branch:

71, Mosley Street, Manchester. AGENCIES AND BRANCHES:

Harbin

Penang Hongkong Bangoon Hollo

Baigon Ipoh Karashi

Alor Star".

£3,000,000

1,800,000 Batavia

Amritsar

Bangkok

Baremban

1,050,000 1,247,830

Bombay

Shanghai

Unicutia Aganoisa; Klang

Clive Street.

Failis Place

Canton...

Kuala Lumpur - Kusking

Singapore

Bours

Madan

New Yor

Reserve Fund & Rest

*BANKERS:

The Bank of England & Midland Bank, Lid,

Cawnpore

Haiphong

Hamburg

BRANCHES ;

Bangkok

Bombay

pole- Esantan

Madra

Cabia Colombo Dalhi

New York

Calouste

Kandy

Penang

Colombo

Karachi

Rangoon

Dalbi

Shanghai

Kuala Lipia

Biml

Kuala Lumpur

Singapore

Kuala Trengghia -

Galla:

Hoar Hod

Howrah

Kota Bharu

HONG KONG BRANCH, Every description of Banking-and business transacted; (d)

Travallers”. Chequer faznod,

-TRUSTEE AND EXECUTORSH

UNDERTAKRI. GURHENT" AQCOUNTS" " opined Girbensy" and (FIXEDE DEPOSITS.

Hankow

Kobe

FOREIGN EXCI Business: transac

CUBRENTADO DEPOSITS received perioda «'in ^ LOOKI⠀ A Awhink will be quot

BAVINGS - 1,000 Durrency and ·, Albe rates, quiainable

The Bank

Exsoutor and 007ity of Britishɔ Ins „hich, may De

Authorised Capital $10,000,000.00 Paid-up Capital

5,598,000,00 Reserve and Undivided

Profits

2,888,932,01

HEAD OFFICE:-HONG KONG, 10, Deus . Vœux Road, Central.

BOARD OF DIRECTORS:- Hoa. Bir Shop-son Chow, Chairman) Li Chan, Esq., P. K. Kwok, Eng., Lon Tong, E., Chan Ching Bhar, Esq., Bang, Haq.. Wong Chu Bon, Esq., Ean Ying Po. Eaq. and Fung Ping Wah, Baq.

KOOD

YuD

Kan Tong Po, Esq., Chief Manager. Li Tae Fong, Esq., Manager.

Branches And Agencies:-

Manila Melbourne

Nagaraki

New-York

Amoy Bateria

Bombay

Bestila Famarang Shanghai

Caloutta

Singapors -

Halphoog

Paris

Souralays

Bentor

Honolulu

Falping Penang

Swatow

Hydney

Rangoon

Tientsin

Saigon

Vancouver

San Francisco

Kobe

Kowloon London

Every description of Banking and Exchange bunlanes transacted. Loans granted on approved sourlifes.

Current Accounts opanad in' Local- Gurrency and Fixed Deposite received for one."year or storier. perioda "ja - Loss)-- and" - Foreign Currencies on terms which will be quoted an application.

Safe Deposit Boxes To-Let.

KAN TONG PO

Chief Manager.

THE WING ON BANK LTD.

Head Office Ho

Capitali

LONE *Welutækinster Bä *rn Exchange lon ofcbanking:

Current Accoun

which

000

Reserve Funds:---

Reserve Liability of Pro-

..prietors

HEAD OFFICE: ́HONG KONG, BOARD OF DIRECTORS, Hon. Mr. A. L. Shields,

Chaleman.

W. H. Lock, Esq.,.

Deputy Chairman

1. K. Dousdeld, Esq.,.-. O, Miskin, Esq. m Hon. Mr. B. H. Dodwell, Hon. Mr.-T. E. Pearce A. H. Compton, Esq., K. B. Morrison, Esq., D. F. Landale, Esq., H. V. Wilkinson, Esq.

Sir Vandeleur M. Grayburn,

Chist Manager:

•

AMOY

BANGKOK BATAVIA BOMBAY CALCUTTA

OANTON CHEFOO COLOMBO DALBEN. FOOCHOW HAIPHONG HAMBURG HANKOW HARDIN .HONGKEW - ILOILO IPOH JOHORE

KOBE

BRANCHES :-

KOWLOON KUALA LUMPUR

Current Accounts

LONDON LYONB MALACCA MANILA MUAR (Johore)

MURDER

NEW YORK - PEIPINO PENANG RANGOON SAIGON

SAN FRANCisco'

- SHANGHAT

SINGAPORE SOURABAYA

BUNGEI PATANI : SWATOW

TIENTSIN

TOKYO...

TSINGTAO

YOKOHAMA

opened in Looal Currancy and Fixed Depodási¬ressired- for one year abortar periods-in-Local- and - other

an terms which will be quoted, on syplion Mon

ALBO SEP : los de la villen DEPOSIT BOXES.

in various sizes TO LET.

Hong Kong, 28th February, 1989.

HONG KONG SAVINGS BANK

KLONG AND SHANGHAI

GAMIDGI