1908-01-14 — Page 5

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NOTICES TO CONSIGNEES "NAVIGAZIONE GENERALE

ITALIANA

(Florio and Rubattine United Companios).

NOTICE TO CONSIGNEES.

FROM BOMBAY AND SINGAPORE. THE 'Stamship

NOTICE TO CONSIGNEES.

6.8. "YARRA.,"

COMPAGNIES DES MESSAGERIES MARITIMES.

"Ville de

NOTICE.

THE HONGKONG DAILY PRESS. TUESDAY, JANUARY 14, 118

AMERICAN CURRENCY

ARRANGEMENTS,

allowing it to deposit New York City bonds agathat Government inoppy, the Treasury was Baalded to give it back $100,000 of Government bonds, so that it was in a position to double, Now that measures for the permanent its noto issus. This in a proves that can he amelioration of the American currency system contianed up to the limit of Government are bellared to be about to engage the attention cash available, and a long as there is of Congress—if it will condescend to native no a sadoient supply of first-class securities. that uninteresting a subject as general bankruptor the Government cau xecept as collateral, bat it CONSIGNEES of Cargo from London throughout the United States a statement of also is bound to stop as a point. Moreover, this

Bordeaux

the existing arrangemente will probably be devine cells attention to another diskoalt festure Dordognen fraction instructive to many inquirers on this side, who of the American system-namely, the fact that with the above Steamer ars hereby in have a hazy notion that they are all wrong, but the United States Government gathers ita formed that their Goods, with the exception little definite notion as to what they are. Ws enormous income into its own bands and does of Opium, Tressure and Valuables, are being have been savoured with the perusal of lengthy not deposit it with the banks as a matter of landed and stored at their risks into the explanation on the subject, "sout to a London course, but only as an act of grace, when impelled hardons and/or extra hazardous Godowns of hours by an exceptionally well-informed core stringeney in the money market, and against the Hongkong and Kowloon Wharf and Gospondent in New York, and most of the facts approved security. In London, money dealers dom Co., Ltd., at Kowloon, where delivery given below are taken from it,

grumblelondly at certain times of the year when be obtained immediately after landing.

the Bank of England gets control of the money All Claims must be sunt to the Office of Uptional Cargo will be forwarded on unless

market by the iofax of State revenue; but, at the undersigned before Noon on the 10th instimation is received from the Consignees

any rate, the fands so absorbed can always be er they will not be recoguised.

before

bave left the Godowns, and all Goods remaining andolivered after the 15th inst., will be subject

"CAPRI," having serived from the above Porta, Con- signees of Cargo by her are hereby informed that their Goods are being landed at their risk, into the hazardons and/or extra hazardous Godown of the Hongkong and Kowloon Wharf and Godown Co, whence dell very may be obtained.

. Goode to be taken delivery of immediately.

No Claims will be sued after the Goods

to zent.

All broken, chafed, and damaged Goods are to be loft in the "Godowns, where they will be traminad on the 15th inst., at 9.30 AM. No Fire Insurance has been effected.

CARLOWITZ & CO.,

Agents.

Hongkong, 8th January, 1908.

NOTICE TO CONSIGNEES.

THE R. & 0, 8. N. Co.'s, Steamer.

"DEVANHA,"

FROM BOMBAY, COLOMBO ND

STRAITS.

Consignees of Cargo by the above-named vassel are hereby informed that their goods are being landed and placed AT TERIE RIAK in the Hongkong and Kowloon Wharf and Godown Company's Godown at Kowloon, where onch consignment will be sorted out mark by mark, and delivery can be obtained na soon as the Gonds are landed.

This vessel brings on Cargo:→→

bela NOON, TO-DAY, requesting it to be

here.

Alle of Lading will be countersigned by the Untersigned. Goods romaining unclaimed after TUESDAY, the 14th inst., at Noon, will be subject to rent and landing charges.

All claims must be sent in to me on or before the 14th inst., or they will not be recognised.

All damaged packages will be examined on TUESDAY, the 14th inet, at 3 r.x.

No Fire Insurance has been affected.

J. MILLET,

Agromt Hongkong, 7th January, 1908.

INSURANCES

[2

NILE INSURANCE COMPANY.

JORTH BRITISH AND MERCAN.

TOTAL FUNDS AT 31ST DECEMBER, 190% £17,837,119.

I. AUTHORISED CAPITAL.......... £3,000,000 BUBSCRIBED CAPITAL... 9,750,000 L'AID-UY CARTTAL SER 487,500 II, FIRE FUNDS. 3,386,720 19

...

www.....

DANK NOTES,

.of.s

borrowed by the market bed can always be

Banka in the United States are divided into two categories -National banks and State banke, The former are chartered by the United States Government under the National Banking Act, United States it is a question whether political and the latter by the various States. The exigencias will allow the Finance Minister to State banks may be left out of consideration reliers the banks by depositing his oash with for our prosent purpose, since they are them: only allowed to laue notes on payment of s

TRE GOVERNMENT AS BANKER. tax of 10 per cent. and this tax is prohibitire Besides its enormous holding of cash, which in its effect. National banks isens notes which makes it an important factor in the United must be poured by a deposit with the United States by market, the Ameris in Govern States Government of United States Government itself exercises the power of note issue. ment bonds, which are taken at their per valus It has outstanding about $146,0 10,000. of for this purpose. The security for the notes is fur. "grocuba ks"-papir money issued during the ther increased by the fact that the banks have to | Civil War, and sinoa then a fruitfal source of maintain a fand in the hands of the United States monotary delusion, since they encouraged the Treasury equal to 5 per cent, of their notes out theory that the best way to provide moey was standing, and this fund is held in Washington for the Government printer to be set to

work. against the presentation of any notes that come In 1896 the currency of the United tates was In for redemption The Govenment pays the definitely put on a gold basis and a fund of notes and collects the value from the issuing $150,00-000 in gold was created to torre as a bank. National bank notes are a legal tender basking for the greenbicke and for moter and to sil National banks and to the Government except for import duties, and they can be used the Government in payment of any obliga: tion axcept interest on its debt. The tax on National bankuotos is small, i te 1 per cent. socording to the rate of interest on the bond on which they are square, and the notes have been freely issued.

A HARD AND FAST ́BYƏT ZA,

The Undersigned, AGENTS for the, abora From London, &c., ex S. Barca and Care Frenared to ACCEPT EISE curreuer of the United States has the grave

Macedonia

against FIRE at Carrent Estee.

BHEWAN, TOMES & CO., Agents.

1146 Hongkong, 27th April, 1907.

From Caloutt, er ss. Simia.

From Persian Gulf ex B. 1, S. N. and

B. & F. B. N. Co.'s Steamers. Optional goods will be landed her unless instructions are given to the contrary before

0 hours.

Goods not cleared by the 15th inst., at P.M... will be subject to real

No Fire Insurance will be affected by me in Any oase whatarer.

Damaged packages must be left in the Go dwas for examination by the Consigue and the Company's representatives at an appointed hour. All Chains must be prescated within ten days of the steamer's arrival hero, after which dute they cannot be recognisel. No Claims will be admitted after the goods have left the Godowns.

E. A. HEWETT, US

Superintendent.

Hongkong, Sth January, 1908,

NOTICE TO CONSIGNEES.

FROM CALCUTTA, PENANG AND SINGAPORE.

HE Steamship

THE

"CATHERINE APCAR,” baring arrived from the above Porty Con- signees of Cargo are hersby informel timt their Goods will be delivered from alongside.

Cargo impeding the discharge of the Tessel will be lauded at once, at Consignees risk and expense.

Cargo-remaining on board after 4 PM, of the 15th inst., will be landed at Consignees' risk and

Consignces of Cargo from SINGAPORE and PENANG are roquested to take IM- MEDIATE delivery of their Goods from alongside; such Cargo impeding the discharge of the Vessel will be landed "and stored al Consignees risk and expense.

No Fire Insurance will be affected. Bills of Lading will be countersigned by the Undersigned,

DAVID BAS800N & Co. LTD.

Agonts,

Hongkon, 11th January, 1908.

191

BEN" LINE OF STEAMERS.

NOTICE TO CONSIGNEES.

8.S." BENCLENCH,” FROM ANTWERP, LONDON AND STRAITS.

ONSIGNEES of Cargo are hereby informed that all Goods are being landed at their risk into the hazardous Budfor extra hazardous Godowns of the Hongkong and Kowloon Wharf and Godowa Company, Ltd., whenna and/or from the wharves delivery may be obtained.

No Claims will be admitted aftor the Goods have left the Godowns, and all Goods remaining undelivered after the 15th inst., will be subject to rent

All Claims against the Steamer must do pra. sented to the Undersigned on or before the 23rd inst., or they will not be recognized.

All broken, clafod, and damaged Goods are to be left in the Godowns, where they will be

examined on, the 16th inst., at 11 A.,

No Fire Insurance has been offected, Bills of Lading will be countersigned by

GIBS, LIVINGSTON & Co.,

Agents.

Hongkong, 9th January, 198

NIPPON YUSEN KAISHA.

NOTICE TO CONSIGNEES.

[180

FROM MIDDLESBOROUGH, ANTWERP, LONDON, COLOMBO AND SINGAPORE.

THE Company's Steamship

"KAWACHI MARU," having arrived from the above Ports, Consignees of Cargo are horoby informed that their Goods, with the excopia of plate outings, are being landed and at their risk

in the Hongkong and Kowloon Wharf and Godown Company's Godown at Kowloon, where esob consignment will be sorted cat mark by mark and delivery can be obtained as soon as the Goods are landed..

Optional Goode will be carried on unless instructions are given to the contrary before, NOON, TO-DAY

Goods not deared by the 18th înat, 1909, will be subject to rent

No Fire Insurance' will be effectel

All ship-damaged packages must be left in the Godown and Notice of same sent to this Office before the 19th inst. 1908 or Clima in connection therwith will not be recognised.

NIPPON YUBEN KÄISHA, Hongkong, th January, 1908. 181

AACHEN AND MUNICH FIRE IN- SURANCE 00.

OF AIX LA-CHAPELLE,

TENTS for the bure Company, Are HE Undersigned, having been appointed prepared to ACCEPT FISKS galust FIRE at Current Rates.

REUTER, BROCKELMANN & CO.,

Agants,

114 Hot gkong, 21st April, 1897.

THE GLOBUS INSURANCE COMPANY OF HAMBURG.

HE Undersigned, having bean appointed AGENTS for the above Company, are prepared to ACCEPT RISKS against FIRE st Current Hates.

CARLOWITZ & Co.. Hongkong, 13th August 1906.

HONGKONG

BUSINESS DIRECTORY.

BOOKBINDING.

28

"DALLY PRESS" OFFICE,

The only office in China having European taught workmen Equal to Home

work.

IRON MERCHANTE

SINGON & CO.,

Iran, Steel, Metsi and. Hardwar

Merchants. Wholessia and Retail Ironmongers. Pig Iron and Foundry.

Coke Importare. General, Stors

keepers and Commission Agits, 36 & 37, Hing Loong test, (1st Street West of Centra Market.) Telephone No.515,

TYPEWRITER.

F.A. V. RIBEIRO,

Typewriting Work Undertaken, Cleanes, Repaired, Overhauled. Charges moderate fate of the Hongkong Typewriting Baresa) 19, Queen's Road Contal

(First-floor).

TITSU

BISHI GOSHI.KWAISHA

(MITSU BISHI CO.)

N

It is obvions at a glanss that the bank note

defect that its expansion is impossible baroud a certain point, baaanse notes can only be issued against Government bonde. And a remarkable the bad off-sot of this weak point in the example of 1ystem his lately been given, when the United States Government, in order to provide the banks with further facilities for note Issue to meet the monetary stringency, netually made large addition to its debt, and burrowed money that it did not want, so that the basis of note issus might be increased. A system, which thus comes to a dead stop at a given point is evidently unsuited to moet financial requirement, which move by undalstions, which have to be maderated by high rates, but cannot be penned in by a immovable broskwater without certain disaster. Moreover, as the system is arranged, it sotally encourages banks to issus notes whoa miavy is obeep and deters them when it is dear, as is shown by the following illustration. A bank, in order to issue $100,000 currency, buys $101,000 United States Government 'wo per Cunt. bonds at 107. If the current rate for mousy is 2 par pout, the account stands thus :---- Gain-2% on $100,000 bonds ...

3% on notes issued.

rtificate, which now amount to about $477,100,000, which had been issuel against silver, which had deprecia el in value. The overnment also issues gold certidsets against gold deposited, and in this fact we flad the only real faster on the side of elasticity in the Amociona currency system; for as long as gold san be imported the supply of gold certificates can be multiplied indefinitely, or the gold can boobianod and orcalsted. The pressatamonut of gold certificates is about $750,000,000.

were

A SUGGESTED CENTRAL BANK. The state things described above needa no comment Its chaotic inad-quwoy for a thriving people subject to fits of exuberant expansion in basiness and finance is apparent by the statement of the foots. Earnest opinion on the other side has long pondered over it, and a gestion has been made, by thoughtful American bankers, in favour of a great control bank which should hold the Government bilance and lesse notas against gold and securities. But it is maintained in the statement on which this article is largely band that the people of the United States, "riglly or wrongly, are jealons of the great political power which such a bank would exorcise under existing political conditions," If this be as it is fiual. If morality is a mattor, of climate, still more is a bauking system s matter of national temperament. A central bank win- trusted by the pablis opinion would be a public danger. And it is significant that Mr. Boose- velt's Meamge was eloquently silent on the subject of a State bank. The most popular alternative is a reform of the bank uste system on the lines of an assets.

that is to currency i say, it la proposed that the banka nota issue should no longer be restricted b being based solely on Government, bonds, but should be biged

on the general assets of the banks in proportion to their capital and surplus, and that 82,150

it should bear an ear increasing tax on its amount grows, so that the mora it expanded Net profit.

$1,85 With money at 6 par.cont. the profit will be This device would have the effet of allowing the higher the price of money would become. arrived at me follows:- Gain--2% interest on bonds ...

82,000 paasion at a price, and causing rapid con- trsation when additional curresey was no longer 6% on notes issued

86,000-gaired. It has obriens objections, especially when applied to the American temperament, $8,000 but so far it seems to hold the field. Times. $6,450 Financial Supplement.

A $2,001 $3,900

$4,000

Loss-2% interest on $107,500 paid for

bonds

Loss-6% on cost of bonda

Net prost....

TRUNK TRAGEDY IN JAPAN.

EHOCKING DISCOVERY AT A RAILWAY

STATION.

man

... $1,550 So the calenlation is worked out by the high authority to whose statement we are indebted. It must be noted that he assames that the Government bonds can be purchased at the same price in both cases, whereas it might have been expected that they would be cheaper when

The fremt trunk tragedy at Hongkong is money is dear; but,it must be remembered that they are a fancy artiola, owing to this fatavaki sintion, on the Kynsin line, day or te by a shooting discovery made at of their bing used as a basis for circulation, and so are little, if at all, amenable to the laws aga, when the bay of a young

was found in a trank among the luggage. which govern the prices of scurities which have not this special benefit attached. In actual depsited by a pusanger from Nagasaki.

On the 8th instatamsa boaght third- prastice, of course, the banks do their best to increase cironiation when money in tight, same time depsiting a larga wickerwork trank elms tiekat to Hayaki at Nagasaki, at the especially when, as lately, it is so tight as to into a general default in the first daty of endanger their own stability, and force them for transport, for which he paid extra, being nvar-weight. Tha pawonger gave his name as banker, which is to pay cash on demand.

Hira. The trunk daly nerivet at Hayaki,. bat Hirata failed to uppose to olsim bis pro their readiness to increase their issues is herty, so the legge remained at the station. pered by the impossibility of obtaining Govert After about ten days the station officiels meat bonds, of which a large amount is hold

notisad en offensiva suoll coming from the trunk, and at last cha station-master communi. mated with the

of contents.

by trustees for private învestment.

CONTRACTION AIROH MPERED.

But

fingers.

equally bad effect when a period arrives at which orena voir suallar trunk wis discovered And the enlculation given above works with ten use the pallo, requesting their presenos it is desirable for the note circulation to be conside, wherein was the body of a young woman, tracted. The decrased profit on note issues when shoe ingly decomposed. On the land ware. money is tight is, as we have seed, counteracted several vold nut cara bair ornaments, and a by the desira of the bankers to save their own rier was on poe of the

"gold ecocomnis skins; but the increased proft when money is cheap has no such antidote, and maten mamination, but be failed to discover A decor was summoned to make a post.

the curse of death. There is little doubt, circalation at periods of reduudines in surrency however, that the unfortunate woman And it would almost seom that all (be PADDYGU

murdered, and thus polies are now ardeavouring to Frace the perpetrator of the grime-Japan

hrouide

COAL DEPARTMENT bankers are tempted by it to keep notes in

MALUNO-UCHT, TOKIO.

Cable Address, “IWASAKI,” which applies to all Branch Ofses.

AJ ABC 5th Ed., Western Union Codets used Al Letters Addressed:

MANAGER MITSU BISHI Co.

with name of place under. BRANCH ORFICES :— NAGASAKI MOJI, KOBE, KARATBU

- SHANGHAI, HONGKONG, &

HANKOW,

AGEN GIES YOKOHAMA MASADA, Esq, CHINKIANG: Messrs. GuazING & Co. MANILA Messrs. MACONDRAT-&-Co, SOLE PROPRIETORS of Takashima, Ochi, Shinner, Namazata and Kami-Yamada Calleries, and also Hojo Colliery, which will shortly be ready to produce on a large soals the best Buzen Coal

The Head and Branch Offices and the Agacies of the Company will receive any order or ale produced from the above Collieries,

T. MATSUKI, Manager, Hongkong,

No. 2, Fodder Street..

814

ON SALE.

期

of human ingenuity had been lavished on effort to make the arrangements of the American bank note circulation as bad as possible; for it Eat actually been enacted by law that no more than $9,000,001of notes may be retired in suy one month. Be that when the crop movement is over and the normal conditions call for a radon tion in the circulating medium, the law with no- lemn absurdity interposes to check the necessary adjustment. The system thus breaks down with fiue impartiality at both ends, Expansion s'tar s certain point, is saly possible if the Govern. ment can be induced to borrow money that if does not want and so provide more buds to be insed against, Contraction is checked by the bigtor profit on note issue when money is cheap, and also by the hard and fast rule of the bliazard law, which says that only $9,000,000 may be retired in a month,

MAKESHIFT REMEDIES.

As we have, the United States Govern- ment has been compelled by the pressure of really acute orisis to grown this edifice of of debt issna for the express purpose of absurdity with the appropriate coping stora increasing the basis of note circulation. This is the kind of remedy that can only be applied when the emergency is desparats; in the milder stages of stringency a milder THE

remedy was found by the widening of the classes of securities that the Government would IRECTORY AND

noorpt Recent as security against deposits. It thus est tiovernment bonds which it helt against FOR 1907.

deposits and enabled the banks to issae morn Complete Edition ...

notes. For instance, let us take the case of a bank which had $200,000 Government bonde, of -Smalt...

which half wee used as a basis for note issue Obtainable at the Hongkong Dally Press Office and half was deposited with

the Treasury nd from the Local Booksellers,

against its holding of Government cash; by

*** ་་་་

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Then it is antiseptic as well, (10% Crystal Carbolic) emollient and delicately perfumed.

In hot weather especially, its use is delightfully refreshing for general toilet purposes, cleansing the skin and removing the effects of perspiration.

Bald by local Chamlets and Stores.

Makarez & -F. C. Calvart & Co., Menéboster. · End.

141

Was

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W

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WHAT ARE PREMIUM BONDS?

They are high-class and absolutely SAFE SECURITIs, payable t› Hearer issued by the varions Governments and Municipalities of Europe: they are redeomsble st periodical Drawings either wirH CASH PREMIUMS Varying FROM £40 TO £40,000 or, at the very least, at their full nominal value.

OUR UNRIVALLED COMBINATIONS, Comprised of the most advantageous Bonis, may bo purchased by convenient monthly

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They are à reliable remedy for the aure of RILIOUSNESS, LASSITUDE, POOR APPETITE, MPAIRED DIGESTION, COSTIVENESS,

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Sold in two sizes by all Chemists and Stores, and lay Watkins, Ltd., and A. S. Watson, 1, Hong Kong

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OLD VAT

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THIS VAT WAS STARTED BY THE LAKE ROBERT THORNE BY GREENOCK HAS BEEN SOLD AS » SINCE 1831-

SCOTCH WHISKY.

SOLE AGENTS IN

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AS WATSON & CO LTD:~

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MARTIN'S

1763

APIOL & STEEL the Lades. PILLS

A French Bamady fornij terugularities. Thomasde of Ladies kap box of Martha's Pills, in the hours ya that on the fr fign, of Kay Treestarity of the dyniem a dány dose may bala

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Rack Capsule bears the mine. (MIDY)

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APIOLINE (CHAROTEAUTI Prescribed by the highest French

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1780

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HONGKONG HOTEL

Nr. . S. Abraham

Mr. P. R. Adams

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Hendrick

52. II. J. Hunter and C. weJack

Mrs. Jackson & child Mr and Mrs. F. J. V.

Jorge

Mr. T. H. Kershaw Capt. F. Kofod

Mr. & Mrs. F. B Land Mr. G.T. Lloyd

Mr. M. B. Silve.

ола

Mr. 2. Siver to

Mrs. A.G. Zmito Mr. E. A. Smith.

Suuzi Ms. U Steave Lt. Col. &

18.

Sewing MAT. Wilso

KINGSCLERI PRIVATE HOTEL,

Mr. K. Krour, M. E astur

Capt. H. Beasley, ai

Mrs. H. Beasley

Dr. & Mrs. Belilioa

Mr. F. Lavington

Comdr. Grenfell, M., Mrs. Grenfell

Mr. and Mia.. Normsor and blin. T. F.

Bianch

Mr. H. S. Cliard

Mr, T. Chinchen

Major Chitty

Mrs. Chitty and chill

Dr. Francis Clark

Sr. A. X Clothier

Mr. & Mrs, Cooker Mr. Crutcusbeak Hoa Hi Ba Davis Et. J. D'Esterre, wda. Mrs. J. D'Esterio Capt. Docuer, 4.0.0. Mrs. Dooner Rev. & Mr A.D. Enais Lt-Comdr. Fremantle,

B. N. Mr. Froemantle

Guthrie

Mr. Hodgson Mz. H. Hupeden 3r., T. Jackman

Nr. E. A. Koster

z. V. Langstein MA. E

Lanning Mr. & Mrs. L Marston Bx, & Mrs. W. Moora Mr. H. Paterson Mr. P. Potts

Mr. L C. Ees Miss C. Kied Mro. G. Sachse Mr. J Gray Scott Mr. E. Woł Mr. Young

ON SALE,

DOUND VOLUMES of the HONGKONG

B WEEKLY PRESS, January to Jane

1907, With IDRY Price $7,50

On sale at the "HONGKONG DAILY PERSS Qfice.

Hongkong, 20th July 1907,