1922-02-06 — Page 7

THE

DODWELL & CO., LIMITED.

REGULAR SAILINGS TO NEW YORK & BOSTON for NEW YORK & BOSTON vta, Spez

"DACRE CASTLE” "BOLTON CASTLE "

**

miling on or about 18th of Feb. sailing middle of Mar.....

LLOYD · TRIESTINO.

". TAKING CARGO ON THROUGH BILLS OF LADING FOR "LEVANT, BLACK SEA & DANUBE PORTS

FIUME having been re-opened for traffic, cargo is also accepted for this port on through Bills of Loding,

**. "TRACIA”

FOR

SHANGHAI,

sailing begining of Feb.

FOR BRINDISI VENICE & TRIESTE

*s. "TRACIA "

sailing on or about 2nd half of Feb. Passengers' Luggage can be insured at the Office of the Agents.

NATAL LINE OF STEAMERS.

"Balling from "Colombo to South African Ports same. SOUTH AFRICAN FORTS from CALCUTTA & COLOMBO. Through Bill of Lading issued from Hongkong.

For Freight or 'Fassage on any of the abors Lides apply to

DODWELL & CO., LIMITED,

Agente.

N. Y. K.

BAILINUD SURJEN TO LITER

HONGKONG DAILY PRESS, MONDAY, FEBRUARY 6ra, 1995.

UPHILL FIGHT FOR

LANCASHIRE,

INDO-CHINA

COTTON'S DWINDLING EXPORT FOREIGN EXCHANGES STEAM NAVIGATION COMPANY LIMITED

TRADE.

PRICES MUST FALL.

[BY JAMES BALAM.]

An American traveller passing through Manchester a few days ago wanted to know when the Lancashire cotton in dustry was going to take the uptide." As he was on his way to Egypt, to study the mystery of the pink boll-worm, it was suggested to him thas he might put the query to the Sphinx. He laughted and went his why.

It has been said at several stages dur- ing the past twelve months that we were oa the very ore of a turn towards pro- sperity. On each ocension it has been a false rumour. In fact, we have main- tained a remarkable optimism in face of dwindling orders that constitute a re- cord slump in the supply of Lancashire |cotton piece-goods to foreign customers.

We have reached such a low level that some people are beginning to doubt whe ther we shall be able to restore ourselves to be position we held in relation to other countries prior to 1014.

We need not get alarmed; but our place in the world markets during the present year is not too encouraging. Is is about time we organised an un- biased means of searching for the causeA that have reduced our foreign trade by nearly 60 per cent. what it was before the war. This is serious, and we may at oncé conclude that it is impossible to regain or former position during the present. winter, whatever may take place alterwards.

FOREIGN ORDERS.

la round figures, we are the possessore of 48 million spindles and 600,000 looms. By meeting the demands of our home market we can find work for only about 85 per cent. of this machinery. To keep the rest going we have to depend on Since orders. from foreign countries.

1913 these have gone down and down, till this year we find ourselves with a foreign trade about 54 per cent. less than it was in 1913. We have reached a serious' point. It means that we have had work for only 40 per cent of the machinery engaged in supplying markets abroad.

Before I go into further figures I want to

AND

HOW TO PROFIT BY THEM.

"The Mysics of Foreign Exchange are not only puzzling the Banking World. but also Exporters and Importers. Fac thermore Investors in Foreign or English Securities are feeling the effect of Foreign Exchange moments. We are therefore, happy to have been "able to publjah a Treatise of some 33 pages, profusely illustrated with Maps and Chuts, which explaina, in the followice chapters, the whole Fareigs Exchange position.

(1) The Modern Chaotic Exchange Situatima (2) The Fresch Exchange Pouti

(1) German Industry and the Mak. (4) The Italian Liza.

(5) The United States Dollar. (6) Miscellaneous Exchanges

(Belgium, Austria, Poland, Koumanie, sta.)- Every Merchant (Exporter an! Importer!, and 'every lavator in English or Foreign Securities, should possess this interesting publication,

Write ka-day, Kasioping Blufor PestFree Cod4,50 PALL MALL INDUSTRIAL INVESTMENTS, LTD. “The House Jer Foreign Reskates," Trafalgar House, Waterico Place Fall Mall, Landon, SW.L

DAS MAA TEMPINGO DAYSYZES

INSURE WITH THE

OCEAN

ACCIDENT & GUAMANTIE CORPORATION LIMITED

NAONDZINĀTALLING MAKA

ACCIDENT & ILLNESS MOTOR CARS, MOTOR CYCLES FIDELITY GUARANTEES BAGGAGE. BURGLARY EMPLOYEES INSURANCE

ETC

VICTORIA, SEATTLE & VANCOUVER via Shanghai Japan ports say that it is difficult to set up a true com- SHANGHAI OFFICE

Through Bill of Lading inued to all Overland so FOSHIMI MARD

KATORI MABU (Nagasaki direct))

**

-

on Pofate in US8.A. and Canada. wednes lay, 8th Feb., at 11 amÉL Baturday,

4th Mar," at 11 am.

MARSEILLES, LONDON & ANTWERP vis Singapore, &c.

BAYBURG, via LONDON HULL

SADO MABU

KITAKO MARU

MATSUMOTO MARU

LIVERPOOL vidARSEILLKE.

SMALAQUAMARU

AKI MARU··

TANGO MABU

11th Feb, at 11 am

Wth Feb., at il am: ROTTERDAM.

13th Feb.

اية

...Saturday,

Friday,

Sunday,

Tuesday,

7th Feb.

Tuesday,

14th Feb, at II a.me

Tues lay

21xb Mar., n. 11 sm.

Wednesday, 2nd Feb

GYUNKY ELBOURNE vis Hania, o

BW YORK, VIL PANAMA & QUBAN PORTS.

TAKETOYO MARU

NEW YORK via Suez.

BIO DE JANEIRO, SANTOS & BUENOS AIRES · ́ris UAPE ;.

KANAGAWA MARU...

BOMBAY 4 Buraport, Penang and

TOKUSHIMA MABU

*NO

CALCUTTA via singapore, Penang &

PENANG MABU

NAGASAKI

TANGO MABU

End of Mar.

Colombo,

Frilay, 10th Feb

Rangoon.

KOBE & YOKOHAMA.

SHANGHAI, KOBE & YOKOHAMA.

TOTTORI MARU . (calling Nagarki), CALOUTA HARU

Friday, 10th Feb.

Friday, 17th Feb., at 11 am

-1

Thursday 9th Feb. Bunday .. 12th Feb.

parison with pre-war times. When this was never more imporant to us the Board of Trade skered the method of present- ing their periodical returns. For the past two years cotton piece goods have been measured in square yards in place of linear yards. This has to be taken into consideration in making compari Bons. i am calculating, however, thas. the difference between the two is nearly 7 per cent. in favour of square yards. In giving rate percentages of decrease. 1 bave included this difference. #

INDIA'S IMPORT DUTY. N

In bemoaning the gradual descension of our exports too much has been made, I think, of the increased Indian import duty, now 11 per cent. or 71 per cent. against us compared to 1913 Too much also has been made of the Gandhi boy. cott. Undoubtedly these have had their effect, but not as much as they might have had had it not been for a greater cause -that of the poor economic conditions of Indian consumers who cannot and will not pay the prices charged to them for Lancashire cloth.

The collapse of our trade in India is simply symptomatic of our position

the world over:

If this is so it must be assumed that the Indian import infliction, and the Gandhi fanatician, are minor causes and

For further information apply NIPPON YUSEN KAISHA. indicate that we must look elsewhere for

Telepbour Ens. 292 à 296

K2 KAMEL, Manager

YAMASHITA KISEN K

KAISHA.

(THE YAMASHITA S.S. Co. Lro.).

REGULAR FREIGHT & PASSENGER SERVICE

STWEEN

KE LUNG, HONGKONG & HAIPHONG. Salling from Hongkong.

FOR HAIPHONG via Holkow & Pakhol

BE "HOZUI MARU”

FOR KEELUNG via Swatów à Amoy

BS TAIKWA KARU” E

on of about 14th Feb.

es pr about - 7th Feb,

For further particulars, vƐmmes apply tom //

37, Bonham Stand, Wok

Branch Office,

Tel. No. 185.

8. MITARAL

Top Floor, King'a Bating Tel No. 160.

STRUTHERS & BARRY

Ad Operating Far Eastern sertions for socorant of the

UNITED STATES SHIPPING BOARD.

DAKAN DAT

***

To LOS ANGELES & SAN FRANCISCO West Chopaka

13th Feb. Also cargo accepted for Transhipment at San Francisco for weekly sailings to

NEW - ORLEANS, SAVANNAH, NORFOLK, BALTIMORE

PHILADELPHIA, NEW YORK & BOSTON.

Through Bill of Lading inned is all US & Canadian Overland Common Foints BONGKONG OFFICE—1ri Bour, Powell's Building, 12, Des Voeux Road, Tel. 3007.

(9

remedy, without blinding ourselves too much with what would appear to be a slice of political propaganda based on an outery against the import duty.

I have prepared statistical groups of our cotton cloth exports, according to our various world markets, comparing the first eleven months' in 1813. Take first our principal Indian markets, in re ference to which I have adjusted, as near as I can, the percentage of decrease in accordance with the difference between linear and square yards-aquare yarda representing a bigger measurement:

991, Szechuen Road. AGENTS for Hong cong

and "South China,

DODWELL & CO. LTD TELEPH-10302, QUEEN'S, BLDG.

FOR SALE.

Larga Stock of New and Second-hand GALVANIZED STEEL DRUMS

(capacity 50 & 200 gallons)

Priserery moderats Apply to KHUNG SANG HONGLTD. PO Box 320 H.ngkong

i

GLOVER'S

DOG REMEDIES

Pamour the Wald Over Book on "Dog Diseases, their Care and How to Feed."

Mailed free to may addreme

H. Clay Clover Co, Inc.

U. &. A ANMAN UTVLKER & FELPPS

118 W. 31st Street How York

Approxi-lot to our customers. "See the table be 11 mate as low 1913

1021. cent, in Year Linear yds. Square yds. decrease. Bombay...1,036,076,000 241,470,100 70.9 Madras... 191,020,100 46,224,200 ·71.6.

47.98 Bengal.1,432,639,400 175,731,200 Bazmas.... 128,124,000 27,111,900 710

Total: 2,842,919,500 990,546,400,

:

Keleven - months)

Price we Yards..

received.

£ 19136,844,866,000(1r) 80,302,768 19204,188,156,700(square)295,030,6

125,993,291 19215,579,386,600

1

The figures show that in 1991 wo have received £35,000,325 more for. less than The total decrease in our imports to one half of the quantity of goods than India is practically about 88 per cent.in 1813. In other words, whilst we are" There is little difference between this de cline and that of other countries,

Measured by the square yard against the linear, our imports to European countries have been 57 per cent. less; to Central and South American countries about 66 per cent. less; to British Colonies só per cent; to China 85 per cent, and to Japan 79 per cent. lesa. Hence, India by no means standa alone among our backward customers!

TOO POOR TO BUZ.

getting these millions of pounds sterling more, millions of people cannot pay the price, our nwn 600,000 operatives are working only about 50 per cent. of the pormal time, and the aggregate wages of Lancashire factory towns are thus much less than they might be,

À HIW-YEAR'S BIJOLVE.

that all classes should face.

It is no use pretending that bringing down wages will do the trick for us. Wages were reduced by 60 per cent. Jast July, since when we have not improved the situaton. For shrinkage in our for- sign supplies, this year is about the worst on record. The lowering of the Indian

It is not a cheerful Christmas story to tell, Lut there it is” And as u New Year resolve we might make up our minds that prices have to come down if we expect Hơw_docs «anybody think we shall reihe world to buy. This is a resolution cover from such a tremendous shrinkage Do the figures not indicate that the causes are general throughout the world, and that we are being lod away from these by concentrating our minds too much on the Indian import duty and the Don-co-operation campaign. If these did not exist, the natives would still be too poor to buy our cloth at the prios. import duty will not make us prosperous. Let's look at the price for a moment. The credit of the world will have to be Lord Emmott said the other day that if restored. Kachango will have to be was too high-it was still per yard made less acrobatic. And this is up our la 1013 our exports of cotton fabrics own street-the mad recapitalisation "of averaged about 34d. per yard. Last year dur mills will have to be brought to a the price was 1s. 5d. per yard; this year level of sanity, la face the uphill fight it has been a fraction below 117d--less have given, indicating the

8.98 per cent. to make up for the differefore as, the present" capitalisation of ence between linear and square yards, vime of our milla is one of the very worst The difference, however, in mice means a blunders we have inade. Have we nonse

(Continued at foot of next column,)- v rectify it before it is too late i

SAILINGS, SUBJEUT TO ALTERATION

TRINGTAO via SWAROW & SHANGHAI "WAISHING...Thare, 9th Fab., Dlight HAIPHONG in HOIROW

BANGKOK

SANDAKAN

STRAITS & CALCUTTA ... MANILA

YOKOHAMA & Kour -

Не

TAKSANG

Thurs, 9th Feb., 10. "OH UNSANG Thuren 9th Feb., 10A.M. "MAUSANG

FOOKSANG-Thurs., 9th Feb, Noon Thurs., 9th Feb. 5 P.. “YUENSANG"...Thurs, 9th Feb. 3 P.M.

9th Feb, 3 P.X,

KWAISANG Thars., CALOUTTA LINE:— This Lise afforda regular sallinga to Calenta, Fenang ang

Singapore; returning from Calcatta steamers prosced via Sirais and Hongkong to Japau, occasionally calling at Sheaghal, All teamers have excellent passenger accommodation, are fitted with Electric Light and Fans and carry a fully-qualidad Sargeon SHANGHAI LINE:-Sailings approximatoly ovary three days between Canton and Shanghal, sometimes calling at Swatow Through lekets san be obtained and through Bill of Lading are ismod to Northern and Yangtare Porta via Shanghal

Teakly service. in maintained with, Manila by romels with good

MANILA

LINEA

passenger accommodation, sailings from both ports every Friday! HAIPHONG LINE:-Ballings

weekly for passengers and orga calling at

when inducement offere

BORNEJ LINE

Hoitoly

and from Sandakan by two 5,000 tona

Fortnightly sailings to and an MADSANG" both steamery

¿DEMICIN B..

naving excellent panenger accommodation. Cargo taken an hrough Bills of Lading for Kudai, Jesselton. Labaan wao and I had Dats.

FLENTSIN LINEA regular service is ran from March to Novembar between

Bongkang and Tembain, calling at Weibatwed and Choloo. BANGKOK LINE:-A weekly service is provided between Hongkong and Bangkok via Swatow, by five steamers fitted with ir-to-date varRSKJEKS accommodation}

CALOUTTA

LINE:

***FOOKSANG"will be despatched on or abori Thursday, 9th Feb, at 3 p.m., for SINGAPORE, PENANG

& CALCUTTA.

Through Bills of Lading issued to RANGOON, PUKT BWEJ- TENHAM, MADRAS and DUTCH EAST INDIES,

Fur Freight or Passage apply tom

*AFRONX ho” 915.

Jardine. Matheson & Co., Ltd;

GLEN

GENERAL MANAGEKS

AND

SHIRE

Joint Service of Steamers,

U.K.-STRAITS. CHINA & JAPAN SERVICE.

*Vessel

M.V. "GLENAMOY” MY. "GLENTARA"

Vress]

M.V. "GLENAVY" M.V. "GLENLUCH B.S. GLENIHANE“

OUTWARDA.

Ike Hongkong

4th Feb. 18th Feb.-

HOMEWARDS, Leaves Hongkong

Discharged 7th Feb GENOA, LONDON, ROTTERDAM, & HAMBURG, 22nd Feb. LoDON, ROTTERDAM, ANTWERP & HAKRUNG 23rd Feb NGA, MELLES, LONDO3 & HAMBURG

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

Jardine, Matheson & Co., Ltd. The Glen Line, Ltd.,

Telephone No, 415 #mbiar, 92 and 3696

Cable Address

Karakau, Koba

Bentley's 480 548 IL.

and don't Üstel

KAWASAKI

Iphone Basemİy

8644 2958.

KISEN KAISHA

(KAWASAKI STEAMSHIP COJ

CAPITAL FAID-UP

·756.600.000

Prezident: M2. Y. Káwimil Vice-President Mx, K. MatsvKATA. Managing Directors Mr. Mamata Azu

se Cený kay kaa on hand a Large Number of

NEW CARGO STEAM ERS

ALWAYS, KEADY FOR CHARTERS of all descriptions.

The following are comprised in the Company's Flest porn

Fleven steamers of 9,100 tons each deadweight. And ander the Company's Managementum

Twenty steamers of about 9,100 tons deadweight esch Two ateamers of about 6,400 tons-deadweight each

(Belonging to the Kayamki: Dookyard Co., 14L)

18

Jay Choria-Baƒ~~und - other particular opoly do tha

KAWASAKI KISEN KAISHA.

THERAPION NG 1 THERAPION N03 THERAPION NO.2

16. E for Tiafoe Citeria. MATS EN DUS4, 2

IS TRADE MARIES VIAN'SESKADIGIT-55_UA

ON BÅLE

OUND TOLUMES of the HONGKONG. WEEKLY PRIĖS, Jazmmy to-June)

BOUND

1921

With Imoar, Prios 17,50,

On sale at the Hongkong Daily.