1903-10-30 — Page 5

THE

ROBINSON PIANO

COMPANY, LIMITED

NOTE.

ENTIRELY

MR.

NEW STOCK

ARRIVING.

GREAT

22

THE TARIFF PROBLEM.

THE HONGKONG DAILY PRESS BIDAY OCTOBER

jer (Continued from page 8.) would be good enough to doch down upon our glaust every yene a fow hundred millions worth of bales of cottast, kushels of wheat, hogsheads of sugar, öheap cutlery, olooks, watches, hats boots, ready-made clothes, and other meful Betkelen, we should be extremely grateful to

sp to usarly 180 millions your, or rather to have been plaid fa

so much of thai sum, sa represented by thỏ real, | ld, and one foreign customers will no and not the langinary, difference botwoon imgar need to come to us. Farhapa, indeed, porte and exports, is not in the least impro.hall ourselves find it advisable to buy cheap bable. At ang mate, the onus probandi in on el abroad rather than to burrow deep down those who deny the explanation. The rest of Ider the s fl of our own small island. Bat it as may be content to believe that these various even more probable that coal will have been items do really make good the balanos of goly superseded for mechanical purposes by trade," so long in our imperis, one capital, oare progress of invention and discovery. To income, and var foreign investments all go on ton the lid of our grimy tressare chest antil ingresalg ether,

he Edison of the future had made its contents

But many

INSURANCES

AACHEN AND MUNICH FIRE IN-

SURANCE CO.`.

But what, then, is theexplanation? Obvious! that official figures do not, and cannot, tall the But this are. I know, some people who will blueless by focussing the solar energy or har- whole story and if any anxious enquirer, refuse to be comforted, and never will be com essing the ses tides, would be a very foolish to know what that For this lais tradition centuries old, and it is han it would have been to keep the timber of our Luning

mind" for the first time forted as long as the balshop is "against us. roceeding; no wisst, economically speaking, fatory in, I am afraid I cannot oblige him with not easily abandoned. It is really based on the ld English woodlands standing, for the boneft anything new and original. I can only suggest ancient belief that the end of all trading is to posterity. Our ancestors, though often SIECIALLY AND MOST CAREFULLY certain points which, I fear, superior persons obtain money, instead of to obtain commodities joroly against the wishes of Kings and Perlis- izvoalready decided to regard as "ahibboleths," It is the famous old theory of the Mercantilaments, lit their furnace fires with the trees, and CHOSEN BY OUR

though a few years ago they wer deemed so System, the object of which, as succinctly haped them in their dockyards; and so laid the ROBINSON,

elementar that one would have been almost stated by Thomas Muu in 1881, consistedfoundations of our industry and sommorse, in- ashamed to enlarge upon them. In the first in keeping importe less than exports, thastead of leaving their capital of logs and planke NOW IN EUROPE. plate, export, and import figures are not calento secure a favourable balance, and provide an intact to a generation which, as it happens, lated on the sams basis; the value of the abundance of money, which could be drawsbullds its ships of iron. exporis is necessarily underestimated. The declaration of their valas, made by the owner REDUCTIONS or the shipping agent at the port of em barkation, omits all the factors which will have been added by the time they reach their, port of destination, where they will be entered on the official records of some. Our NEW MUSIC STOCK has arrived. formiga country as imports. Among these items are the chippers' profits, and possibly the profite of other agents and intermediaries; the cost of freight and carriage; and insurance against fire, loss, accident, and theft. These various charges are very large, and they sometimes make a most substantial difference in the two prices." "A carge, worth £100,000 at the wharf-side in, Liverpool may have gained a good many thousands in value by the time it hue bean delivered to consigaces in Valparaiso or Shang bai. Attempts have been rando to estimate the total amount of all these additions to our naflenal profits; but they are not very success ful, because the precise data are not obtainable, and in many asses do not appear on any British

in our present stock of Pianos and Musical Goods.

"THE APOLLO

MASTER PIANO

PLAYER

THE BEST OF ALL,

THREE STYLES: PRICE FROM $450 UP.

PATTI ENDORSES THE APOLLO,

Adelina Patti (Baroness Cederstrom) has given another great testimonial to the Apollo Piano-player, She was so delighted with the

records. But it can be taken for granted that

a Luge part of the excase of imports over exporte is apparent and not real.

Secondly, a great surplus of importsis required to compensate us for various services to other nations, for which we are paid in commodities. The first of these is for sea-transport. We own neorly half the shipping, and more than half the ocean-going steam slipping, of the world. Our merchant flest has been estimated as represent ing a capital value of 600 millions sterling If the gross not the not-return on this capital, including the cost of maintenance and depreciation, is put af about 15 per cent.

1113

REUTER, BRÖCKELMANN & CO.,

Agents. Hongkong, 21st April, 1897 THE WESTERN ASSURANCE COM PANY OF TORONTO, CANADA. INCORPORATed 1851. Cash Security

...£625,719 Total Losses Paid ......£6,789,240,

apon In time of need." This is also the doctrine of Mr. Seddon, who holds the the great thing is to provent" golden sovereigns going abroad, when you might hang them ng

OF AIX-LA-CHAPELL in your national stocking at home. people, less arcbase in their beliefs than thi distinguished Colonial Statesman, are rondorAGENTS for the above Company, ara THE Undersigned, having been appointed unhappy by the same idea in a slightly as prepared to ACCEPT RISKS against FIRE fasidious form. Going back to the metapr at Current Rates. of a nation as a private trader, they insistu the discrepancy between income and expendite, They regard the exporis as the natijal ennings, and the imports as its curat liabilities. But this is a misleading analky. Taking the nation as if it were a aigle business concern, for the purposes of torgn commerce, the exports represent the outgoigs and the imports the receipts. The form is what we pay out in order to get possession othe latter. A trader does not think he is ding particularly well if these entries in his Loks merely balance. On the contrary, he hop to bose a largo margin in favour of the recepts, to represent his profits, the payment foj his professional services, his goodwill, prodit, do-- in fact, bis invisible exports." If you by outlay for goods, stock, &c., amounts t year he can contrive to take in £328, whit his

more than £278; he would consider his postion highly satisfactory-particularly if his balances at the bank and his boldings of stock were steadily increasing all the while. Of course se file in the margin somehow, by giving a customers something, or doing for them some thing which they want, or think they want, and are willing to pay for. as a nation, solo

d

...

Though the

the cost of

making finest toilet soaps has nearly doubled, the retail price, ingredients, and superior quality of Vinolia Soap remain unchanged.

complexion.

For the

GENTLEMEN'S BOOTS.

OUR STOCK OF HIGH-GRADE

#41

1449

THE Undersigned having been appointed 1 AGENTS for the abore Company, are prepared to ACCEPT RISKS aguast FIRE at Current Rates.

WM. MEYERINK & CO. Hongkong, 18th May, 1903. HUN INSURANCE OFFICE, LONDON

FOUNDED 1710.

The Undersigned having boon” sppointed

AGENTS for the above Company pared to ACCEPT RISKS against FIRE 21

Current Rates.

SIEMSSEN & CO.,

Agenta.

Hongko ag, 16th May, 1802, P

иN·IX FIRE OFFICE.

GRANT POLICIES of INSURANCE The Undersigned are now prepared to against FIRE at Current Rates.

DOUGLAS LAPRAIK & CO.

Agents for the Phoenix Fira Office. Hongkong, 17th August, 1887,

*28 PORTH GERMAN FIRE INSUK

BOOTS AND SHOES

1347-2

18 NOW ABSOLUTELY REPLETE.

WE HOLD 30 DIFFERENT SHAPES AND STYLES. STOCKED IN SIZES AND SIZE!.

IF

YOU

THE BEST IS ALWAYS THE CHEAPEST,

WM. POWELL, LD,

GENTLEMEN'S DEPARTMENT,

28, QUEEN'S ROAD.

NELISTA CIGARETTES.

THE

BEST.

SMOKE TURKISH CIGARETTES, SMOKE NELISTA CIGARETTES ARE MANUFACTURED FROM THE CHOICEST

TÜRKISH TOBACCO. PACKED IN AIR-TIGHT TINS OF FIF FY.

MANUFACTURED BY-

W. D. & H. O. WILLS' BRANCH, BRITISH-AMERICAN TOBACCO

COMPANY, LD.

143

instrument that was purchased by her lust your that ous item in our national business will nazisty. He looks at ont szport of coal to ANCE COMPANY OF HAMBURG NOBEL-GLASGOW EXPLOSIVES

that this second testimonial is oven stronger than the first one that she gavo,

Mme. Patti says that "the Apollo nover has given bor the slightest trouble and that the new concert grand is one of the most waxdorfal and perfect pinno-players that she has ever seen,”

Hongkong, 15th otober, 1903. (2484

WANTED.

ESSONS in English language by

Young Gorman, eventually will give German Lessons lú returu..

"H."

Cure of Daily Press Oor. Longkong, 28th October, 1903 [2096

WANTED.

FURNISHED ROOMS or HOUSE.

Apply

A. L. Z. Care of Daily Press Office. Hongkong, 29th October, 1903. [3007

DANCING.

account for an annual income of nearly 100 millions for which no tangible exports bare left our stores. In many cases, the profits made by English shipowners are entirely earned abroad. A British “tramo "onko ma • ~g with cotton at New Orleans, and discharges of Hamburg; there it receives another cargo, which it carries to Yokohama, and theues, parhaps, goes on with a consignment for San Francisco. For these long and expensive voyages, of which no hint would appour in our Trade Returns, heavy payments must be mado by alion importers and merchants, and these must be liquidated in goods.

Frights, however, are not the whole of our "invisible exports." London is still the greatest of International money markets. We periora numerous bandial services for foreign nations. We also perform other services-professional, legal, and the like. When an English firm Bends out an expert at a heavy far fo-examine a now mining concession, that fos, returns to us→→ neually in goods. When a City house brings out a forsign ima, or finances a foreiga railway, MRS. DONALDSON (Daughter of its not too moderate commission comes back

Professor F. F. WALLACE, of Ross also in goods. All those Itams go to swell mount Dancing Academy, Glasgow), baga to the adverse balance of trade," for there is inform the residents of Hongkong and district

PLEASE NOTE,

Comparare PREPS TO ACCEPT First The Undersigned AGENTS of the bore Class Foreign und Chinese Risks at Current Rates. ine United Nocas meng-1895

STIMOÒOIN 1 10.

172

THE BOMBAY FIRE AND MARINE INSURANCE COMPANY, LIMITED,

AGENTS for the above Company, aro Prepared to accept RISKS at Current Estes, HOTZ, JACOB & CO. Hongkong, 30th July, 1903.

2160

The pessimist, however, has yet one mere

the valus uf some £30,000,000 annually, and says that here, at any rate, is a case of living on ospital. That is, in a sense, trus; but it is also true that other countries are doing the same thing with their natural products. States is using up its capital stock of gold, i silver, copper, natural gas, and mineral oil, at a arions p Gang is living ouits capital of coal and iren, Canada on its timber and nickel, Sweden and Spain on their metallicHE undersigned, having been spraluted ores, South Africa on its diamonds, and so on. And they can one and all urge the same exos. feat and sufficient reason, which is that capital is of no benefit to anybody so long as it is buried several hundred feet, below the surface of the earth. The people who are alarmed at our export of coal ought not to rejoics--as they | B gonorally and illogically do-over our export of manufactured goods, for these cannot be made without the consumption of casi, so that to sel them abroad is only to waste our national stock of fael upon the unworthy alion in another form. No doubt, if there were any dinger that our coil-measures were being orkansted so fast that in a few yars we should be left without the means of running our factories or driving our steamships, there would be amp's warrant for

.

THE STATE FIRE INSURANCE COMPANY, LIMITED, OF LIVERPOOL.

THE Uadorsigned AGENTS of the above Company are prepared to ACCEPT RISKS against EIRE at Current Rates,

W. G. HUMPHREYS & CO. Hongkong, 3rd August, 1909.

12186 NORTHERN ASSURANCE CO.

FIRE and LIFE.

ESTABLISHED, 1836.

that her Classes are now forming in the CITY nothing to show for them on the Exper anxiety. But that is not the prospect. At the HE Undersigned are prepared to accept

HALL, and beginners who wish to be able, to danos this season in tinis for the Scotch Ball

should enrol at once. BEGINNERS' CLASS.

Twice weekly

$10 a month. ADVANCED CLASS. Once a week.

57 a month. CHILDREN'S CLASS.

Once a week

-$4 a month. PRIVATE CLASSES or PUPILS as may be arranged.

1288.

Pupils enrolled at the Robinson Piano Co.. Id Hongkung. 15th October 1803..

CHEONG SHING GENERAL EXPORTERS.

DEALERS IN JEWELLERY, DIAMONDS, PEARLS PRECIOUS STONES, SILKS, IVORY WARES, EMBROIDERIES AND

PONGEB SILĻKARNA Wholesale and Betail. Prices very moderato, No. 39, QUEEN'S ROAD CENTRAL (Opposite Messrs C. J. GLUPF & Co.), Hongkong, 16th May, 1903.

208

A. LING & CO., FURNITURE STORE. PLATED, GLASS AND CROCKERY WARE, &o, &é.; and FOOCHOW LACQUEBED WARE

68, QUEEN'S BOAD CENTRAL Hongkong, 21st September, 1905.

126

Returns.

Thirdly, there are our foreign investments. It has beat seen that they do not diminish; but, on the contrary, increass steadily. The inland Bereans can now account for over 60 millions of income derived from this source alone.

But it is, probably, more than that. It is human nature to dodge the collector of Income- taz, when possible; rigid moralists in atter matters do so constantly. In the oss of money derived from foreign investment, and from businesses carried on abroad, there is abundan t scope for under-statement, which cannot be officially checked, The Inland Revenue, autho rities have no doubt that the actual amount of this income is much larger than they can identity. But, taking even the officiat figures, there is here enough to cancel from a third to a quarter of our arcess of imports..

There are those who allege that all these together will not make np the "adverss" balance. How can they tall? They do not krow-nobody knows the whole amount earned by our shipowners, our shipmasters and officers, our financiers, merchants, bankers, bill." discounters, commission-agents, engineers, and I fear, company promoters; and by our traders and manufacturers who carry on business or industries abroad. That all this should mount

CHINESE EASTERN RAILWAY CO.

TRANS-SIBERIAN

TRAIN SERVICE.

Shanghai to London in 18 days.

Present rate of consumption, geologists lelieve that our coal beils can contina to be worked. for several hundred years. The lowest estimate puts it at about two centuries. I have sot the smallest doubt that before the sad of the

Twenty-Brat Century one of two things will have happened

Most likely, now coalfeld

Painkiller

(PERKY DAVIS)

the seaman's friend, for cholera, cramps or chills. It acts like magic.

Take no substitute. ⠀⠀⠀

2821-3

W to the talous of the Ressurs fultways, and the stations of ITH the opening of the through passenger servic) from and

the Chinese Eastern Railway, and by con section of the Russia Railways with the Western European Railways, a new way is opened. which offers indisputable comfort to all pussengers going from the principal places of Western Euraps to China and Japan, and vioo.

versa.

Express, trains, comfortably arranged, have the first and second- class sleeping cars of latest type, restaurant oard and other abcbm medations, which modern technical knowledge can only afforde

In addition to this from an economical point of view the new way gives considerable economy both in time and money, which în sar time, when "time is money" is doubly important,

This economy is evident from the following table in which are ahown flest-class fares and time occupied by the journey from London to Shanghai by different ways, vin: 2016 sing

First Class Foreign,and Chinese RISKS against FIRE at Current Rates.

Also to accept proposals for LIFE ASSUR- ANCE. Prospectuses on application."

TURNER & CO.,

Agents, Hongkong, 23rd September, 1963, [2673

NORT

TORTH BETTISH AND. MERGAN.

TILE INSURANCE COMPANY. TOTAL FUNDS AT 31ST DECEMBRE, 1902, £16,378,771.

I APTHORIZED CAPITAL.. £3,000,000 $ A - ŠurouresD CAPITAL........ 2,750,000 0 4

PAID-CY CAPITAL

637,500 0-0 II. FIES FUNDS............. 2,867,515 14 1)

The Undersigned AGENTS for the above Company, are prop red to ACCEPT RISKS against FIRE Carroat Ratos.

SHEWAN, TOMES & CO..

Agents, Hongkong, 19th June, 1908.

[1888

BALAMANDER FIRE INSURANCE COMPANY:

ין

HE Undersigned, having been appointed AGENTS for the above Company, a repared to ACCEPT TISKS against FIRE st. Current Bates.

HOTZ 8'JACOB & CO Hongking, 2nd April, 1900

2

DYNAMITE,

GELATINE-DYNAMITE

PLASTING GELATINE AND GELIGNITE, '.

DETONATORS, SAFETY FUSE,

AGENTS

AND ALL BLASTING ACCESSORIES,

MAGAZINES AND DEPOTS AT

HONGKONG, SHANGHAI, WEIHAIWEL

JARDINE. MATHESON & CO.

JAPAN

MITSUI

COALS.

BUSSAN KAISHA

MITSUI & CO)

HEAD OFFICE ––1, SURUGS-CHO, TOKYO,

LONDON BRANCH, LIME STREET, E.Ü.

HONGKONG BRANCH-PEINCE'S BUILDINGS, Ics House STREET

Į

OTHER BRANCHES,

New York, San Francisco, Hasburg, Bombay, Singapore, Sourabaya, Manila, Amny, Shanghai,

Chefoo, 'Cientein, Newchwang, Port Arthur, Seoul, Cheralpe, Yokohama, Yokosuka,. Nagoya, Osaka, Kobe, Kure, Shimonoseki, Moji. Wakamata. Karatau, Nagasaki Kuchingtu, Sasebo, Maidzuan file, Hakodate, Taipeh, c.

Telegraphio Address: "MITSUI" (A.B.C. and A 1 Codes) CONTRACTORS OF COAL to the Imperial Japanese Navy and Arsonals and the State. Railways; Principal Railway Companies and Ind trial Works; Home and Foreign Mail and Freight Steamers.

SOLE PROPRIETORS of the Famous Mike, Tagawa, Yamano and Ida Coal Mines; and SOLE AGENTS for Hokoku, Honde, Kanada, Fajinotana, Mameda, Mannoura, Onoura Otenji,

Sasaharu Tenbakuro, Yoshinotani, Yeshio, Yunokibars, and other Coals.

N. INUZUKA, Manager, Hongkong. DUINART FERE & FILS, REIMS

AUTOMATIC MAUSER

PISTOLS.

CALIBRE 7.63 mi.m. With CHAMBER for 10 CARTRIDGES FIRING 10 SHOTS in 2 SECONDS.

SIEMSSEN & CO., Hongkong, 3rd October, 1900,

FROM LONDON TO SHANGHAI BY WAY OF

Hall, Alexandrova, Moscow, Dalby;

Length Fares in of journey

roubles

in Days,

497 Bls.

Brindisi er Naples Canada, Quebec, and

and Sues Cana],"

Vancouver.

roubles

Fares in

roubles

Length of journey in Daya

For in

31-to.32

637 to 707

18 to 19 742 to.780

Length of journey in-Days.

31 to 59.

Established 1719, CHAMPAGNE GROWERS AND SHIPPERS

Ship saly the Finest Qality Extra Dry (Green Besty

LAUTE WEGENER & CO.,

Sole Agente.

Hongkong, 18th May, 1903.

NOTICE These fares include board both on steamers and rallways, according to experience at the estimated rate of about Ribs per day for first-class passenger ank

Express trains on the Chinese Easter Ballway run twice a week and are connected both with the Chinese Eastern Railway Company's Express steamers to Staoghai and Nagasaki, and Siberian Express

trains..

In fature Express trains will be increased in number in accor- dance with request,

The details of time tables are given in the Raksian Official Guide of Railways, steamers and other Passenger Services.

For further particulare please apply to

28th October, 1903.

PVARAWA, AGENT, CHINESE EASTERN BAILWAY Co.,

10, Tar BIRD, SHANGHAL,

2295