1922-03-09 — Page 7

THE HONGKONG DAILY PRESS, THURSDAY,

MARCH 9#, 1833.

ENGINEERS OF CHINA LIMITED,

A Group of British Manufacturers Co-operating together to maintain both in China and Britain efficient sales offices as MANUFACTURERS REPRESENTATIVES. Amongst the Chief Co-operators there are the following firms:-

*

ASHWELLS NESBITT Ltd. Pampa & Hesting Apparatus. ALLEN M. & Sons Ltd. Centrifugal Pumps etc. ARNOTT W & Co. Lancashire & Cornish Bollers. ALLEN EVERITT SONS & Co. L. Brass & Copper Tabas, Munts Metal Tubes

Sheets, Plates, Ferrules etc.

BLACKLOCK & MACARTHUR Les Paista Qila, Varnishes, Compos, eto.

·CAMPBELL & 1SHERWOOD Lrs. Marine & Small Electric Lighting sets, Motors,

Dynamoga, otca

DAVEY PAXHAN & Co. LTD. Patman-Engines 20 to 2303 IHP. Economical Steam

Beta, Economic Bailors, Lexmotive Boilers, Undartype Engines, eta DAVIS & COLMAN LTD Prismatic Glass, Optical Glass and Field Glasses, Gar

Sights etc.

*

ELLENBRAND DEVITT & MASREY LA Wire Clothing. GREGSON & MONK LTD. Wearing and Finishing Plant. HAIGHS (OLDHAM) Ltd. Machine Tools of every kind.

HALL J. P. & SONS LTD. Service, Feed, Ballast & Oil Pumps.

HARVEY GA (LONDON) LAD. Down Pipes, Perforated Sheets, ste, IRA MILLER & Co., LTD. Small wares, Tools.

LIGHTFOOT REFRIGERATOR Co., LTD. Refrigerator Plant. MAY & PADMORE LID. Builders Brass Foundry.

MARSH BRUS Co, Ltp.High Spod CFC Steels, 19 per cent, 14 per cent and lowes. Hack Saw Blades and Hack Saw Sheet Music Wire, Cold Rolled stri, Files, Mining Steel.

LION FOUNDRY Co, Ltd. Radiaton, Boilers, Baths & Cast Iron work generally. MANLOVE ALLIOTT & Co., Lm., Oil Expression Plants, Sterilizing Plant and

Disinfecting Plant

OUTRAM, C. W. & Co., LTD. Forcelain Sanitary Ware, etc. FEGLER.BROS & Co., LTD. Steam and Water Fittings. RICHARDS, H. & Co. (TILES) LTD, Ceramic, Glazed, Mosaic Tiles, etc. „SMITH J. & Co., LTD. Bedsteads and their Tubes and components.

SWITCHGEAR & COWANS Lan. Bwitchgear of all kinds. TULLIS J. & Box LTD. Leathers, Beltings, Laces, Roller Hides, WALLS & STEEVENS LAD Steam Road Rollers, Tractors etc. YOUNG R. & Co., Lab, Auída. Disinfectante. Lysol, Cresote eta. 3ALE OFFICE: No. 20, Des Voeux Road Central, Hongkong, HEAD OFFICE: No. 83, Chao Yung Men, Faking. T. A.-Mocrebene LONDON OFFICE: Ne 28, Victoria Street S.W.J.

And at Shanghai, Canton

Tientsin and Slukden.

SOUTH CHINA REPRESENTATIVES,

B. CHRISTIANSEN, CANTON OVYICE: 65, Central Avenue, Shameen. CANTON CITY OFFICE: 20, 21 & 22, Nam Kwas. BONGKONG OFFICE: 20, Des Von Road.

FINOLATER'S

PORT

J. MOORE BENNETT,

Chairman.

For the hospitable table-a fine after- dinner

port of a rich ruby colour, soft and clean to the palate.

FINDLATERS

"Treble Diamond " Port.

Very popular at most of the well known Clubs in London.

."

Agents for Hongkong & South China. Messrs. CARTERS,

14, Chater Road,

HONGKONG..

HORLICK'S MALTED MILK

DIL HORLICKS, MALTED MILK Weber baby or "growan op” thá bazih, giving properties o HORLICKS, FOOD DRINK

are put into operation right away.

The blood Termotec purified, int the brain

mund, body sơn surished and “izved to.

na Nakuru intended kapuça bonki -

Made in an instant; by the addition of

■ little water hot old,"

Of Li Chakrits' sod Starm

MALTED MICK COF

SLOUGH, BUCKS.,.ENG

MALTED MILK

EXPORT CREDITS.

SIR P. LLOYD-GREAME'S HAPPY AVOURY.

Sir P. Lloyd Greame, M.P., the Parlia-- mentary Secretary of the Department of Overseas Trado, addressed a well attend- ed meeting of the Institute of Chartered Accountants, on January 24th, on the subject of export credits. Mr. W. Cash, the president of the Institute, took the chair.

The system of capport credits, Sir Philip. Lloyd-Greame remarked, was not a new departure in our commercial life. Its prototype was to be found in action taken). by the Government towards the end of the Napoleonic wars. In 1911 commer cial collapso followed a rush of specula tive exports made during the boom period, immediately preceding which was a period of abnormal price inflation. To relieve the difficulties of traders who were unable to secure adequate accommodation from the banks in consequence of the in- security of the principal world markets, the Government of the day granted Ex- chequer bills to traders whose business had been embarrassed. Advances were made fixing a definite time-limit, and security was required. It was encourug ing to know that the relief afforded en- nbled manufacturers to develop their trade and to retain workmen who other wise would have been predicted that those Exchequer bills would be fatal to the country, the measure had considerable success, and manufacturers were erabled to dispose of their stocks advantageously. That was of hopeful augury for the final liquidation of the accommodation now."being created under the exports: credit scheme. That scheme,

That scheme, which came into effect in Septem. her, 1919, had undergone extensive alter ation. The fanda available were limited to an aggregate of £26,000,000 at any one time, but some repaid might be re-applied to further credits. The effectiveness of} the original scheme proved in practice to be limited, and advantage was taken of its provisions only to a relatively small extent in comparison with that "anticipat ed. The object of the scheme was not to supplant in any way the ordinary of finance, but to supple- ment them by facilitating transactions lying just outside the purview of a con servative banker and involving a special risk inherent in the temporary condition of commerce after the war. On the other hand, it was never contemplated that Government assistance

bo employ-

methods

ed to finance trade which was inherently unsound. The State could not undertake to assist in the export of goods unless the business was such as to offer a satisfac- tory prospect of ultimate liquidation; -uch a course would be not business, but out-door relief.

In view of the criticism that the banks' should undertake as agents the Govern- ment the administration of the greater proportion of the £26,000,000 scheme, he read a letter, dated October 14th last from the Deputy-Chairman of the Corn mittee of the London Clearing Banks, stating that they were unable to accept the proposals, as in their view it would not be to the best advantage of all the parties concerned, and. the "Committee considered that the actual management of the scheme should be under the control of a Department of the Government, or a separate Government office, as at present,

In the existing arrangements the most impartans modification introduced wal the substitution of Government guarantees: for Government advances, so that, instead of money actually passing out of the Ex- chequer to the exporter, Government credit took the form of a guarantee that the bill created would be paid. The scheme had, moreover, been extended to the British Empire and to mandated ter- ritories, exceptions being India, Ceylon, and the Straits Settlements, while the date for the ultimate. liquidation of a transaction had been extended to Septem- ber, 100%. The main advantages of the scheme to traders were that premiums charged by the Government Department were lower than any corresponding rates in the market. and that the Government guarantee enabled the trader to very low rate of discount for his bill. The general appreciation of the facilities now afforded was shown by the increased extent to which advantage was being taken of them. During the three months in which the new scheme has been in operation the amount of credit sanctioned had been greater than the whole of that sanctioned throughout the working of the old scheme. The area of operations was being extend ed. The widest publicity was being given to the scheme, both at home and abroad. Bankers were prepared to give full in- formation to their clients, and Govern- ment officers were visiting commercial centres in order to give. information to traders contemplating business. Under the Trade Facilities Act the Government were empowered to guarantee capital issues for capital works, the contracta for which were to be placed in this country. The underlying principle of the scheme was to: Basist sound busiŋUHA- through the normal business channels of trade and commerce. As long as that was maintained it was a wise and pro- dent use of public credit,"

You Never Tire Of Cuticura Soap

Because of its absolute purity and refreshing fragrance, it is ideal for every day toilet pur- poses. Always include the Cuticura Talcum in your toilet preparations.

Map fo.. Talam La, BL, CINEMANE ZA 32, and 34. 44. rate and the impure. Britishullepoc: Reg Mr Bas, 17.Carbour Squirtin *Cuticura Soap shares without mag.

2.9

Buy Your Boots Direct from England

27/6

No. 2160 Cent's Superne Black Box Calf Lee Derby Boot, F..

No. 2164

No, tái

The same in Tan WiBow Calt Gent's Superfice Black Bar Ci

No. 4

Tin

me in Tan

Whaler Galosh Bootow Call.

30/-

Ka. DC Gear's Superfine Ten Willow Call Browse Sbos, $5.

No, Lars Gent's Superfine Black Box Calf

Brogue Shoe, 7.5.

Genduari by return mail Statire Satisfaction

· Fostegn-i pair. 216% â palca: 3/6; 3 pairs, 4/9 Ladial" Fuduma and mixér style of Gent's Featurare, skoren in our Catalogue, sen

free on regassins

Direct from the Manufacturers→ OXFORD. SHOE WORKS SAWDAY STREET, LEICESTER

#ENGLANDS

This Label Adopted in 1901:3

CHAMBERLAIN'S COUGH REMEDY

FOR THE RELIEF OF

Coughs, Colds

CROUP.

WHOOPING COUCH,

MOARSENESS,

BRONCHITIS.

THIS RESERT

CONTAINS NO NARCOTIC

Manufactured by

Chamberlain Medicine Cal

Manufacturing Pharmacista, Des Moines, Iowa, V. S.,

• SMALL SIZE V

Cyrighted by Chamberich

OVERCROWDED BRITAIN.

.BISHOP ADVOCATES EMIGRATION.

katchewan, addressing a meeting of the Dr. C. E. Lloyd, Bishop Elect of Sas Royal Colonia! Institution, 24th, said that according to the census on January

returns there were something over, 47,000,000 people, in the British Tales at the present time. In view of the "com LOWER COTTON-TRADE COSTS.

petition of the United States, Germany, Japan, and other countries in matters of CHEAPER BLEACHING LIKELY.

trade and manufactures, that figure was about 12,000,000 larger than it ought to MANCHESTAN, January 20th.

he, and many of the troubles of Great Britain would not be solved until this A fortnight ago a reduction of the fundamental matter had been taken hold prices for the various classes of dyeing in of in a large war. Those extra millions the cotton trade by from 7 to 10 per should be encouraged, guilded, and trans- cent. was announced, and it is now likely ported into our own terrritories, under that bleaching and calico printing eher our own dag, to build up our own En- ges will shortly also be lowered, negotia rare with our own blood and character, nions being in progrem between the prin The British-Government should be urged cipal organizations concerned with a view to do at once what they had promised to to effecting such a reduction as maydo, namely, set aside £2,000,000 a year satisfy the demand of manufacturers for to sasiat this emigration. Whatever plan lessened costs of production of finished was adopted it was imperative that it goods-Times.

should be done quickly.

INDO-CHINA

STEAM NAVIGATION COMPANY, LIMITED

+4

***

BAILINGS, SUBJECT TO ALTERATION

+)

SHANGBAI

HAIPHONG

MANI:

SHANGHAI

STRAITS & CALCUTTA

MANICA

H

SANDAKAN..

STRAITS & CALCUTTA,

STRATES & CALCUTTA

"WAISHING*

LOKSANGTM ....Friday

"YUENSANG: Friday

FOOKSANG

CEOYSANG

KUMSANG

12

10th March, Dlight.

10th March, 10

10th March, 3PM

10th March, 3r

19th Marah; D'light

14th March 2

LOONGSANG... Wednesday, 15th March, 3-2.

*MAUSANG *

Wednesday, 18th March, Noon

...NAMJANG * ...Saturday, 18th March M

CALOUTTA LINE-Thin Line affords regular sailings to Calcutta, Penang and

Singapore returning from Ualoneta stasmes prosedd, via Straits and Hongkong to Japan, cosasionally calling as Shangha All stoners baye amellens passenger accommodation, Stted with Electric Light and Pans and ourvy a fully-qualidod Surgeon

approximately every "three days cetween Chaton- aa- Shanghai, samablines aniling at Swatów: Through flairebé amm be obtained and through Bill of Lading are tasandi tor Northern and Yangisse Forta via Shanghal,

SHANGHAI LINE:-S

|MAN,LA!{ {LINE --A-weekly service is maintained with Manlis by vessels with good,

pasenger accommodation, asilings from both ports erary Felday, |HAIPHONG LINK ---Sailings

approximately

for Weekly ealing at Hothow, when inducement uflers

Passengers and open, BORNEO LINE-Fortnightly sailing MAUSANG" Roth teammeer to and from Bandakan by two 1,000 toor

steamers 6.5.

Daving excellens anger accommodation, Cargo tales through Bill of Lading for Kudat, Jesselton. Lassan Tawas And I had Date:

TIENTSIN KALIN 3]-A regular sertion is run from March to November batwom Hongkong and Tentin, calling at Welhafwel and. Chatoo, va | BANGKOK “LINA-A weekly service is provided between Hongkong and Bangkoki via Swabow, by Ava" abestera fisted with up-to-daba mieczne socommodationí

CALCUTTA

-LINE

S.S. ¿FOOKSANG" will be despatched on or Friday, 10th Mar, at 3 p.m., for SINGAPORE. PENANG & CALCUTTA.

Through Bills of Lading issued to RANGOON, PORT SWED TENHAM. MADRAS and DUTCH EAST INDIES.

Pur Freight or Passage apply tom

Trarnos or 225.

Jardine. Matheson & Co. Ltď.

GLEN

GENERAL MANAUSST

AND

SHIRE

-Joint Service of Steamers.

U.K.-STRAITS, CHINA & JAPAN SERVICE

VOLE

M.V. "GLENOGLE” M.V."GLENAPP

Vessel

M.V. "GLENADE MV. "GLENAMOY' MV "GLENTARA” MY. GLENARIFFR".

OUTWARDA

HOMEWARDS. Leaves Hongkong

11

Dee Hongkong

15th Mar,

26th Mar

Discharge

16th Mar. GENOA, LONDON, HAMBURG & ANTWAÏF, ·

1st Mar. LONDON, ROTTERDAM, HAMBURG & Azzwaar. 2nd Apr. Gero, LONDON, ROTTERDAM, & HamxuZRA, 18th Apr.

do.

Movements are subject to shange witbors notion For traight or farther particulars please apply to 1-

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

Telephone No. 315 sub-an 23 and 8696

Cable Address

Капаклон, Кор».

Bentity's ARU, Kia KiL

11

and Sonia' Codes,

KAWASAKI

KISEN

(KAWASAKI STEAMSHIP CO.;

·MAYITAL PAID-(IP)

Pretidaks Mr. Y. KAWALANL

Vios President MI E-MATSUZATE," Managing Dirostori Mr. Masata Ana

KAISHA

as Compratikas zu häid a large Number, of-

NEW CARGO STEAMERS

ALWAYS HRADY FOR

CHARTERS of all descriptions.

xha tzflooring sor:pompeiand("in the Company's Fleet. 2000 -

Elazer texmers of 9,100 tons each deadweight:

And under the Company's Managemant

Twenty steamers of about 8,100 tons-deadweight ssok: bes of about 6,400 tons deadweight esahi (Belonging to the Kawasaki Dockyard Co by

Ben Carter-

gillor purtianlow apply to the

KAWASAKI KISEN KAISHA.

Fe, U. Evan Rosa