1922-04-29 — Page 7

Page

THE HONGKONG DAILY PRESS, SATURDAY, APRIL 39 r¤, 1988.

NESTLE'S PURE THICK CREAM

IS

REAL CREAM.

CAN NOW BE HAD. IN SMALL TINS

CONTAINING

4 OUNCES

PRICE 35 CENTS PER TIN,

OTHER SIZES 113 026. 80 cents per tin.

5ozs. 45-

NESTLE'S

BULMER'S

NUFA

UNAND

mic CIDER

Sold by:

Lane, Crawford, Ltd., and other Stores.

Drinks for the Hot Weather.

BULMER'S HEREFORDSHIRE

CIDER & PERRY

t

Brands to suit all tastes, ranging in prices from $5.00 to $25.00 per dozen.

Importers,

CARTERS,

la. Chater Road,

"Pel, 3548.

KERR STEAMSHIP CO., INC.

SERVICE TO NEW YORK, "VIA PANAMA CANAL:

FOR MANILA AND NEW YORK,

S.S. BLOSSOM HEATH"

W

sailing on or about Tuesday, 2nd May.

For Freight and further particulars, apply to

876]

SHEWAN, TOMES & CO.,

AGENTS.

HAMBURG-AMERICA LINE.

21

M/V 'MÜNSTERLAND”

loading about 10th May, 1992

FOR ROTTERDAM & HAMBURG, ETC.

For space please apply:-

"V

ARNHOLD BROTHERS & CO., LTD.,

1A, CHATER ROAD.

CANTON-CARLOWITZ & Co.

Phone No. 1500. MACAO:-A. A. г3 MELLO.

HUNG SHUN SHIPPING FIRM,

1 227, QUEEN'S ROAD, CENTRALA

SARAWAK LINE.

First class accommodation and reasonable rates. Bailings from Hongkong subject to alteration.

The Steamship

YUET WAH

will be despatched on 29th April, at 4 p.m.

FOR SARAWAK VIA-CEBU AND ILOILO.

For freight and passage please apply to

HUNG SHUN SHIPPING FIRM.

Telephones 1209 & 1445.

[913

THE FIGHT FOR MARKETS.

PRESIDENT OF THE BOARD OF

TRADE ON THE OUTLOOK.

POST-WAR - TARIFF BARRINKS. There is another thing which is causing me and trudar a good deal of disquietude. However, well the distributing insiness of this country may do at hoine, the real life- blood of the country circulates through the "Mr. Baldwin, President of the Board of producing trades, who export their goods Trade, made an important speck on the and find food and raw material for the prospects of trade revival at a luncheon country; and we have arrived at a certain given by the London Association for the ugly phenomenon that causes me very grat Protection of Trade at Frasesti's Restau-anxiety. A peculiar result of the war. rant on March 18th.

is that, although every one is left with Mr. BALDWIN suid-It is not a very feeling that he would rather sacrifice auspicious moment to speak about trale, all he has than see another war such as In quite sure that none of us, however, that from which we have recently emerged.. long we have been in business, has ever yet there has grown up alongside of that intabse wave of nationalism seen a condition of things approaching that feeling an in which we find ourselves today. I do throughout the world. You see it not only! net know whether you will agree with me in the old countries of the world, but also that one section of the community largely in those new communities which have sprung represented here to-day-I mean the great into existence as a direct result of the war. wholesalers and retailers are probably Through all those countries, owing partly to suffering less than the direct producers

||

INDO-CHINA

STEAM NAVIGATION COMPANY, LIMITED

"BAILINGS, SUBJKOT TO ALTERATION

SANDAKAN TIENTALY

BANGKOK is HOIBOW SHANGHAI...

SHANGHAI SWATOW BANGKOK vin SWATOW.. HAIPHONG HOLBOW KUBA via SHANGHAI MANILA...

"YUSANG" ...Saturday, "CHIPSHING" Saturday, "MINGSANG...Sunday, ...Sunday, ...Sunday,

"LOTSAV

9th April, Noon."

29th April, Noor 30th April, dayligh 30th April, daylight 30th April, dayligh May, daylight 3rd May, 10 am.

May.

Noon

Friday

5th

"YUENSANG.Friday.

ith May, 3pm. STRAITS & CALOUTTA "KUMBANG" ...Thursday, 11th May

* p.m. STRAITS & CALCUTTA

KUTSANG" ...Wednesday, 17th May, 3pm.

Singapore returning from Calentta ataamera proceed via Bicultu ALQUITA LINE - This Lins affords regalar sailings to Calcutta, Paning and

and Hongkong to Japan, occasionally calling at Shanghai All steamers have aroellent passenger accommodatlari, itsed with Elentric Light and Fane and marry a fully-qualified Surgeon.

this feeling of nationalism and partly to SHANGHAI LINE Shangbal, sometimes malling at Swasow. Through tickete osm

national desire, in a trembling world, to find occupation for their own people, efforts are being made to secure manufacturing MANILA business for themselves to the exclusion of the manufactured goods of all other HAIPHONG That is the reason" why

world bare BORNEO tarifs throughout the been put u since the war, not only against us, by against every other country. That hits in two ways. It bits as. directly as the one country in the world TENTELS which depends more on manufactures for its healthy life any other conatry, It BANGKOK hits us because makes it more difficult for

I never pass through the streets of London without being amazed at seeing the volume of trade which, apparently, is being done in all the shops notwithstanding the operation of the income-tax. It may partly be due to the fact that the ordinary man countries. and woman who go into a shop hare given op all hope. They feel that there is no use in their saving any more, and they may just as well spend the little that is left to them in getting something pretty to take bome, rather than try to form the nucleus of a hearoost that sore future Chancellor of the Exchequer can reb.

In Germany to-day the sante peculiarus to dispose of our goods, not only in the phenomenon is apparent. There people in adventitious circamstances that exist to-day, all classes of society are baying things they but would make it more difficult even do, and things they do not. want. That when the time comes when foreign countries is one reason way up to now German fac- can pay for their goods. It hits us in cam- tories have been kept so well occupied. I am mon with other constries because it in told the explanation is partly, that people pedes, to the extent of the height of the are afraid of a currency with so shifting a tariff, that very movement of trade which vahte as the mark, and they feel that the is essential to get the world trade machine sooner they convert these volatile pieces of moving as it meved before the war, and paper into something immovable, like which we must have moving before we cau chest of drawers of a pair of stockings, the have health better. A similar sort of feeling may exist in this country. People feel that once they have effected such a changethey will have put one more fence between themselves and, the Minister of Finance. Whatever the reason may be, the causes operate to the benefit

of the wholesalers and retailere.

PAINFUL PRELIMINARIES.

There are natural processes of evolution through which we must pass before the trade of the country gets better. Partly owing to the war, and partly owing to the feverish activity during the first year or two after the war, most of the manufacturers of this country got loaded up with stocks which they were unable to dispose of when the slump came; and part of the trouble has been due to the liquidating of those

stocks.

This process of liquidation must go on until it is completed, But until it is com- pleted, until we find orders coming in to replace stock at such a price as that at which orders can be fulfilled to-day, we cannot say that we have yet started on the upward path in business. I am very much afraid that the process will not be completed by the liquidation of stocks, and that in many businesses in this country, before the turn really comes, we shall have to go through the very much more painful process of the liquidation of businesses.

home.

COMPETITION IN THE CARRYING TRADE.

We find that exactly the same spirit which is leading foreign countries to ins crease their tariffs is leading several of those who have a sea-board to take such measures as are in their power to foster directly the growth of their own mercantile marine. And it looks to me as if we were- entering on an era when this country, and our Empire, will have to fight for its life for the preservation of that most vital part of its existence-ita mercantile marine. have had quite lately attempts, and in some cases successful attempts, to take away trade from our mercantile marine by countries where up to now we have held the trade. That trade we could hold now, but it is being taken away from us by legislation directed entirely to that end. “

We

All these things make it more and more difficult for the trade of our own country; dicult and make it more and more to realise that kind of brotherhood of nations that so many of us hoped might come out of the terrible war in which we have recently been engaged. It seems to me as if there were some accursed fate over the human race that we must always be quarrelling amongst ourselves over some- thing or another, and it may be that there are bitter fights yet in store for the so-called civilized nations, over trade which ought to When these two processes, both painful, be common to all of us, nad a link and are completed, then I think we may look source of accord, rather than a destrutive for some improvement. Of course, it was element and a source of disaccord. These quite impossible that we could look for any are among the many things which are milit improvement until prices came down ating to-day against the restoration of our enormously-until they came down so as to trade, and of the things which, unless tempt buyers and make people realize that they can be approached with wisdom and- we were at the bottom; because until statesmanship, may lead in the future to people realize that prices are at the bottom, differences between the nations of the world you will get no volume of trade. I think, that may be as serious and grave in their speaking generally, we are at the bottom-way as any differences that have separated

How them in times past. we are dragging along the bottom

long that process will last it is impossible The outlook in trade is complicated not to say. But I think we can go as far to only by the economic conditions in which say that the bottom has been reached, and the belligerent countries find themselves, but we shall not see things worse. It may be soine months yet before we see anything by the political unrest which is still manifest in so many countries throughout the world. that can be called a revival.

In saying that I bare specially in mind that great market in our Indian Empire. where undoubtedly the need for our goods is great. The political atmosphere there is disturbed at present, and the trade outlook there must" remain an unknown quantity until that political unrest is appeased. To appease that unrest would, I believe, do more to help the trade of this country than any singie thing that could happen to-day in the

world.

The cheapening of prices which has un- doubtedly occurred has been very largely due to that most essential preliminary. fall in wages. To my mind it is a hopeful sign that they have fallen with the recognition, on the part of the man who have had to face these reductions, that the reductions are' an absolutely necessary precedent to a better state of things. Two years ago it would have been impossible either to have faced these reductions or to have got men into the frame of mind to Against that, but it is not a complete off- recognize the necessity. That necessity is set,. I. sce a ray of light in China. There recognized, and the reductions have been I believe we may hope to see valuable results made, and on the whole they have been from the great Conference at Washington. faced with courage and reason. They ars I have had several advices at the Board of not universal yet, There are still some Trade from those interested in the Chinese, important industries where considerable trade that, whereas trade there was un- concessions, somehow or another, will have certain "and had fallen off owing to the un- to be made before we escape from the con- stable conditions in the country, there is distinct improvement. I cannot dition in which we are to-day.

дом а

I am quite convinced that, both for the help feeling that the action of the signa internal trade of the country and the export! tories, of the Agreement at Washington trade, we have got to see lower railway rates, concerning the territories of which they had (cheera) and a cheapering of the cost of the been in possession must restore to the handling of goods at the docks. There is Chinese people a great deal of that self- no brafich of industry to-day which can respect that had been so shaken by the give a greater fillip to trade than the great fact that foreign countries were occupying transport industries, if they were able to portions of their own territory. give the traders the benefit of cheaper I bare the greatest hopes that the confer freights and lower charges in putting goodsence which is going to be bold at Feking, fo.. Shipping freights have come down as the result of the Washington Conférence, considerably, but they are still hampered may succeed in, or, at all evente pare the by the charges to which I refer. Given way for, the entering into that great country reductions in these quarters, I believe, we of trade from ourselves and others. Aftør have reached a point at which some of the all, if China is once penetrated by Western staple industries of this country can meet commerce, and if that vast market is going almost any competition with which we may to be opened,, there is a population there be faced. I have never had any doubt of enough to find work for this country and the ability of this country to hold her own for many other countries for two genera in the markets of the world.

tions, no matter what progress may be But it is zo good bauying ourselves up made by Chins herself in the erection and with false hopes that things are better than manipulation of factories. they are. We know the worst, and we be I do not believe there is any people in the lieve that the better is coming, and coming world who can meet us in equal competi possibly before very long. But we are to- tion! We only want a fair field and no day in a very difficult position, and it is like-favour, and we shall go on from triumph ly that we shall still be in a difficult position to triumph in this generation as we have for some time to come.

done through generations past. (Cheers)

approximately every three days between Canton and T

fared to be obtained and through Bill of Lading are Northern and Fanghase Forts is Shanghai. LINE :-A weekly service is maintained with Manila by vessels with goed

passenger sccommodation, sailings from both ports every Friday, LINE—Salling approximately weakly for passengers and cargo

Ealboy han inducement afforz LINE: Fortnightly HINBANG" and an *MAUBANG” both stentners

ly sailings to and from Sandakan by two 6,000 to'r stes mors .. haring

excellent passenger accommodation. Largo taken an through

Bills of Lading for Exdat, Jesselton. Imbura Tawas and Lahad Datu.

LINEA regular service is

ran from Marah to November bakwota. Hongkong and Tiantain, calling on Wolbalwef and Chefoo LINE-A Weekly service is provided between Hongkong am Bangkok, via Swabow, by five "teamers fitted with up-to-date pravonger Accommodations

CALCUTTA

(4

LINE

5.5. KUMSANG" will be despatched on Thursday, 11th May, at

& CALCUTTA.

11

+1

or about p.m., for SINGAPORE, PENANG

Through Bills of Lading issued to RANGOON, MADRAS, PORT SWETTENHAM and 'DUTCH EAST INDIES.

•For Freight or Passage apply to

TELEPHONE No. 215.

Jardine, Matheson & Co., Ltd.,

GLEN

„GENERAL MANAGERS.

SHIRE

AND

Joint Service of Steamers.

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

Verse!

M.V.GLENIFFER" S.S."RADNORSHIRE” M.V. "GLENBEG

Vetst

M.V." GLENOGLE” · M.V. "GLENAPP” .M.V. "GLENGARRY"

OUTWARDS.

HOMEWARDS.

Leaves Hongkong

Das Hongkong,

9th May.

59th May.

17th June.

Discharges

46h May, GENOA, LONDON, ANTWERP & HAMEDRA. ...22nd May, Gesda, London, Botterdam & Hamburg,

9th Jane, LosDOR, HULL/BOTTEEDAM & HAMBURG, S.S. CARNAVONSHIRE”... 9th Jane, LONDON, HULL, BOTTERdam & Hangued.

‚” Movements are subject to change without notios. For freight or further particuleur please apply to com

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

Telephone No. 215 ember, 23 and 3896

Dabis AddraSS

Kayaking, Købe Bentley's A.R.CL 5th BA.

and Boots's Code?

KAWASAKI

KISEN

18

Tulephone Bankety

(KAWASAKI · STEAMSHIP Coj

MAKITAL PAID-UP.

KAISHA

• : 720,000.00G

President: Mr. K. KAYASAKL Tico-President "Mr. K. MatsuKAZA, Managing Directori Mr. Maxaxa Ax!

an Company has on hand sIlarre Number of

NEW CARGO STEAMERS

ALWATH READY FOR CHARTERS of a descriptions.

The following ses comprised in the Company's Kloukimu

Eleven steamers of 9,100 tons each deadweights ånd ander the Company's Manngamans you

Twenty, steamers of about 9,100 tons deadweight esok: steamides of about 6,400 tons" deadweight

(Belinging to the Kawasaki Dockyard Co., Iblj

Tyr" (harles Has ... and other deficndora'apuły to flee

KAWASAKI KISEN KAISHA:

· Bo] &, Burn Kons