1920-03-25 — Page 9

THE HONGKONG DAILY PRESS,

THURSDAY, MARCH 26TH, 1930.

AUCTIONS

MR. MCKENNA ON THE BISE

DODWELL & COMPANY, LD. IN PRICES.

STEAMSHIP LERVICES.

Regular Sailings so

NEW YORK

Tia Panama Canal.

9.S. DACRE "CASTLE" Sailing on or about April 28th.

TLOYD TRIESTINO

FOSHANGHAI & JAPAN

45.

8.S. "INNSBRUCK" Sailing on or about 28th March.. BRINDISI VENICE & TRIESTE VIA SINGAPORE PENANG & COLOMBO SS. “PILSNA "

MARA

Sailing on or about March 29th.;

NANYO YUSEN KAISHA, Ltd.

(SOUTH SEA MAIL S.S. CO.)

Regular Services between

JAPAN, HONGKONG & JAVA.

44

For JAVA,

HOKUTU MARU" Sailing on or about 3rd April,

S.S. ROKI

Foz JAPAN,

OCEAN TRANSPORT

TAIYO KAIUN KAISHA).

Steamship Service Trans-Pacific.

Alsó to Australia, Europe, etc.

NATAL LINË "OF

Co..

Ltd.

STEAMERS.

AKING Cargo on through Bill of Lading to SOUTH AFRICAN PORTS

with transhipment at CALCUTTA

in conjunction with the

INDO-CHINA STEAM NAVIGATION CO. LTD.

AND APCAR LINES.

For Freight or Passage on any of the above Lines apply to:-

DODWELL & 00, LTD.,

Agenti

110

PACIFIC MAIL S.S. GO.

U.S. MAIL LINE

Operating the new first-class steamers ECUADOR," "VENEZUELA ** & “COLOMBIA,” HONGKONG TO SAN FRANCISCO,

VIA SHANGHAI, KOBE, YOKOHAMA & HONOLULU.

THE SUNSHINE BELT.

The most comfortable route to America and Europe. SAILINGS FROM HONGKONG AT NOON,

S.S. "COLOMBIA"

82. “VENEZUELA'

Wednesday, Apr. 21st. Wednesday, May 19th.

SS. "WEST KASSON" Late April, for Baltimore, via Suez and usual Ports of call. HONGKONG CALCUTTA SERVICE,

Cargo accepted on through Bill of Lading to all points in the United States and Canada, also through Bills of Lading to Baltimore, Hava, Central, and Bouth American ports."

For further information apply com

Telephone 141.44

PACIFIC MAIL 8.S. CO.

Hotel Mansiona,

Cable Address "BOLANO."

WATERHOUSE LINE.

TRANS-PACIFIC FREIGHT SERVICE.

Operating the following U.S. Shipping Board Steamers

For

THE CAUSE EXPLAINED

42

The general meeting of the London Joint City and Midland Bank, Ltd, was held at the Cannon Street Hotel, London, E.O., on January 99th The Right Hon.

R. Makanna the chairman, presided,

R

·PUBLIC AUCTIONE. CANEY-APPOINTMENT.A, HUGHES AND HOUGH, AUCTIONKEEN TO THE GOVERNMENT AND ADEIRALITY.

In opening his speech the Chairman paid General Auctioneers,

tribute to the lata chairman, Sir

A

Edward Holden. He proceeded 2---

I am going to ask you to consider a problem, which has been much discussed in the Pro and in Parliament. Nothing gives so much concern to the public at the present time in the great rise in price, and the most popular proposal tor brewusing, phord lærte tx, a limit to the currency note issue. But is this issue really "the cades of high" prices! "Let us 100% at the estimated ngures of currency, bank deposits, and prices of commodities us they stand to-day compared in 1914-

16 totamount of currency in circu- iation held by the public in 1914, 6, gold, silver, copper coin, and bank note was £12,000,000. Today the core pending figure is estimated at £393,000,000,

an increase of $265,000,000, vor (907. per cent The estimated amoun, of currency held by the banks in 1914 was £75,000,000, and in 1919 £191,000,000, as increase of £116,000,000 of 164 per cent. Before the war the total deposits of the banks of the United Kingdom (other than the Bank of England), including under the de deposits money hold on currency account as well as on deposit account, amounted to £1,070,000,000.. The corresponding figure last month was about £2,300,000,000 an increase of £1,230,000,000, or 115; per, cent. The actual spending power of the public is gauged by the total amount of currency'in circulation added to the total amount of bank depositi, ... In 1914, the public spending power was £1,108,000,000; today it is £2,693,000,000, an increase of £1,105,000,0000, or 125 per cent The spending power of the public and the cost of living show the same percentage increase of 1935.

Let me sum up the case. During the last six years bank deposits have increas- e by £1,930,000,000. Of this amount payments of additional currency into the bank account for £118,000,000, and bank losas have been responsible for an increase of £1,100,000,000 in bank deposits. To whom, then, have these loans been made 1 The best estimate I can form is that of the total of £1,100,000,000, £800,000,000, Trstnding Treasury Bill; have been hent to the State, and £300,000,000 to trade. The Government, under the overwhelming necessity of war effort, has been the great borrower from the banki The losas to the State have led to an immenso increase of deposits, and as they have remained outstanding long after the commodities they were raised to pay for have been consumed, they have been an inevitable ¡cause of a rise in prices. When the ad- rances are paid off prices will tend to go down, and the arrency in circulation will diminish. We naturally aak: Shall we ever get back to pre-war prices and pre-war currency and bank deposits If I might bazarda-opinion, it would be that prices will remain permanently on a far higher loyer than in 1914 The rise that has taken place is not local 16 covers the whose world. The cost of living in Japan has risen quite as much as in this country. In India and China, where human warts are much less than with us and where custom plays for stronger part in fixing prices, even there the cost of living in much above the pre- war standard Increased production will bring down prices to a certain extent, but the purchasing power of the world mea aured in money cannot be materially diminished. Deflation is bound to be very

slow.

The report was, adopted.

NAVAL DISCOVERY. COMPASS WHICH KEEPS GUNS ON THE TARGET::

The future of naval warfare as affected

by soms recent discoveries leading to improvemente in the wonderful apparatus

SEATTLE-TACOMA-VICTORIA-VANCOUVER known as the gyrostatic confpues, which

via Kobe and Yokohama,

WEST IVAN

“ WEST JESTER.",

Sailing about April 12th.

Late April

urther sailings to be announced later. Through Bills of Ladings issued to all Overland Common points in US and Canada.

For rates and further particulars apply to-

370

FRANK WATERHOUSE? COMPANY, 3rd Floor, Hotel Mansions, Telephone 2007.

THE

1920

Ford

THE UNIVERSAL CAN

Price $1.000.00

If the price of the Ford had advanced since 1914, in the same ratio,

as standard Plesegoods, the Ford would cost about 8,000

Made in Canada

SOLE AGENTS:

ALEX ROSS & CO.,

·HONGKONG

it is claimed may entirely 'revolutionise naval gunnery, was the subject of an ad- dress by Mr. Sidney G. Brown, F.R.Sto the members of the Royal Institution

Share, Coal and General Produce Brokers

The Undersiguel have received instruc tions to sell by Fublic Auction,

(For Account of the Concorned), On FRIDAY March 6th, 1930 at 10:30 at their Baler Rooms, No. 8, Des Voeux Road, Corner of Ice House Streets SUNDAY VALUABLE HOUSKHULD FURNITURE,

(REMOVED TO SALES RODS FOR CON

VENIENCE OF SALE),

including Teakwood Twin

INDO CHINA

STEAMÉNAVIGATION COMPANY. LIMITED.

MAILINGS SUBJECT TŐ ALTERATION A

MANILA ***

SHANGHAL.

KOBE

SHANGHAI..

BANDAKAN

STRAITS & CALCUT

+

TIENTSIN

HAIPHONG...

LOSE

JHANGHAI

.100

YUENGLNG Ex. 28th Mar, 2 pa BANGSANG Sat. 97th Mar Dlight.

OOKSANG "Sat, 17th Man, 5 pula

HOYJANG* INSANG

"LAISANG

." KWAISANG “

CHEONGSHING"

Sun, 28th Mar, Dight Tues., 30th Mar, Noon

Tues, 30th Mar, 3 pm Wed..

list Mar, Ora

4th Apr. D'light.

"TAKJANG”..... Sun, 48h Apr. 8 am.

JALOUTTA LINE -This Line affords reguar silings do Calonecs, Lenang and Singapore; returning from Calcatos abesmare proosad via Ätraite and Hongkong to Japan; oouston ly calling a5 Shanghai, All stormers have excellent passenger Accommodation, itted with Electrio Light and Fans and carry a fully-qualified Burgeon LINE-Sallage approziusisly, svary“dive days between Canton 'ana Shanghal, sometimes calling at Swalaw. Through Mokote san be obtained and through "Bulls of Lading are farted to all- Northern and fangtens Forte via Shangħal. LINE :—A weekly service. It maintained with Mauls by vessels with good

LINE-Salling approximately, weekly for passagers and

paranger accommodation, mailings from both ports every Friday,a

LINE:-Oas sailing par manda hatwan Hongkong and Sandakan by

calling at Holbow when inducement offers

sheamar having up-to-data socommodations, for pamsengers: Cargo taken on through Buis of Lading for Kundai, Jesselton; Zabsan, Tawao and Grind Dasa,

CANILA HAIPHONG 108NED

་

Bedsteads, Desk and Bookcase combined,

Bras Twin Bedsteads Gramaphone and Records, Glare Ware and Crockery, and a number of lots of new Furni ture made by Mara Wa Powell & Co 300 yards new Damask Table Cloth two TIENTSIM LINE: pieces Khaki Velvet Cord (new).

Ten anses Fortified Lime Juice, and one 3 EL-P. (Evinrude) detachable outboard Motor with automatic reverse.

Terms: Cash

HUGHES & HOUGH. Auctioneers.

The Undersigned have received instruc tions to sell by Public Auction

(For Account of the Concerned March 30th, 1930, at 11 Ax, at No. 8, Fum- OG TUESDAY,

phreys Avenue, Kowloon, SUNDRY

VALUABLE HOUSEHOLD FURNITURE,

therein contained,

couristing of :- Teakwood small Sideboard and Dinner Waggon, Overmantel, Rattan Furniture and Matang, Glass Ware, Crockery and Pictures, two Testwood Wardrobes (Bevelled Mirrors) two single and one double Beds, Shanghai Bath, Ice Chest, Mest Safe, Cooking Stove,

e

One Piano by Challen & Son, London, in' first class condition.

Catalogues will be issued.. TERMS:-Cash.

HUGHES & HOUGH,

· Anctioneers.

FOR SALE

The Undersigned have received in trad tions to sell

(For Account of the Concerned),

The Yacht "ERIN

se sho now nies off Ah King's Slipway may be obtained from the undersigned,

Farther particulars and inspecting orders

HUGHES & HOUGH, Auctioneers.

WE

HAVE

Great Varieties of used and

dnssed

POSTAGE STAMPS Single, Sets, Packets, Bags, and

On Approval Books

FOR COLLECTORS. GRÁCA & 00.,

Dealers in Postage Stamps, Post Cards, Seeds, Toys, &c., &c.

No. 10, WYNDHAM STREET, HONGKONG.

PO Box 820..

NOW READY

DIRECTORY &

CHRONICLE"

Or

CHINA, JAPAN STRAITS SETTLE

·Eta

for 1920

BETH ANNUAL EDITION containing

14 MAPS

THE Directory of the Far East.

As was well-known, said the lecturer MENTS, INDO CHINA, PHILIPPINES the use of the gyrostab in the Whitehead torpedo had revolutionised naval strategy. He believed the use of the same instru ment in the form of a gyro-compass gun- director would produce profound changes in gunnery practice sad would affect the naval Warfare of the future to an extre ordinary extent. In modern warfare the 1,600 PAGES rival fleets came into action when seps rated by many miles, the guns being worked and fired while the targets were. invisible. The guns were directed by observers in an elevated position, who communicated the distance of the target blisters filled with oil, or by cool dust, and its direction in space. That direction Working the guns with the ships at full, in space would in future be supplied by speed would be an additional protection. gyro-compass of extreme accuracy. When submarines were operating against Once the guns had been properly trained fixed objects, such an harbour defences,, they would be joined up and be connected they could be detected from the shore by' by the compass, and for that purpose the listening devices, such as the liquid mier turrets would be designed to act as buge phone

repeaters, keeping the guns pointing, on Mr. Brown said he thought he had the target changing only on receiving coded in removing what was known as new directions from the observers. The the damping.error" from the gyrocom compass would hold the guna on the target puss, and also the "quadrantal error, quite independent of the ship's move which rendered the instrument useless in ments, and allow the vessel to steam full heavy so A gyro-compass on board a speed of manœuvre in all directions flagship in the North Sea during the war Huch movements were, of course, necesspry was observed with particular care, espe as a protection against submarine and cially during very heavy weather, and 11.

aerial attnek,

It had Een sugested that the day of was found to be never more than 11 the big battleship was over. He was whole of the tests. Trials on a commer

degrees from the true north during the doubtful of this as he understand that cial ship had shown that the use of the shing could now Hó-made procf, against

ordinary submarine attack by means of compass resulted in the ship steaming every day over three per cent. greater (Continued at foot of next column.) milenge

-Azugalse, "išerij te vua team March to November behwompi

Hongkong and Tiensefa, calling as Wähalwal and Cheen.

CALOUTTA LINE

s.s.

"LAISANG"

will be despatched оп

or about March 30th, for

SINGAPORE, PENANG & CALCUTTA.

Through Bills of Lading issued to RANGOON, PORT.

SWETTENHAM and MADRAS."

For Freight or Passage apply to-

TELPHONS No. 218.

Jardine, Matheson & Co., Lt

GLEN

GENERAL MANAGERS.

AND

SHIRE

Joint Service of Steamers.

U.K.-STRAITS, CHINA & JAPAN SERVICE

Versel "PROFESSOR' *GLENADE"

GLENLUCE

OUTWARDS:

Dan Boogkong 31st Mar 2nd April.

7th April.

Vessel

HOMEWARDS. Leaves Hongkong

Disch

"GLENIFTER

23rd April

LONDON & ANTWER

dubi

Movements are subject to change without notice. For freight or further particulars please apply to

Jardine, Matheson & Co., Ltd.

AGENTS:

Tel. No. 215, sab. ex

Cable Address.

Kawakisen, Kobe. Bentley's, A.B.C. 8th Ed.

and Boott's Codes.

The Glen Line, Ltd The Royal Mail Steam Packet Co: Owners of "Shire” Line:

home : Bannonly

KAWASAKI KISEN KAISHA

(KAWASAKI STEAMSHIP

CAPITAL PAID-UP sam

CO.)

Y20,000,000

President: Mr. Y, Kawasaki, Vice-President: Mr. K. MATSULATA. Managing Director:- Mr. MaxAYA, ABE.

The Company has on hand a Large Number of

NEW CARGO STEAMERS

ALWAYS READY FOM

CHARTERS of -all descriptions.

The following are comprised in the Company's Fleet.

Eleven

steamers of 9,100 tons each de_dweight.

And, under the Company's management?

Twenty steamers of about 9,100 tons deadweight each Two steamers of about 6,400 tons deadweight each, "Belonging to the Kawsankt Lockyard Co., Ltd.) Charter Rice and all other particulars apply to the

KAWASAKI KISEN. KAISHA

No. 8, BUND, KORR

122