1924-02-15 — Page 3

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SPECIFY

BALL BEARINGS.

ON ALL MACHINES YOU ORDER.

Wcan supply Bearings for all kinds of Machines, POWER SAVING. NO HOT BEARINGS. SELF ALIGNING

"..

REQUIRE LESS ATTENTION.

THE HONGKONG DAILY PRESS, FRIDAY, FEBRUARY 15TH, 1991.

THE UNITED ASBESTOS OBIENTAL AGENCY, LTD

Tel. Central 330.

SOLE AGENTS FOR HONGKONG.

Address; 2, Queen's Buildings.

CROCKET

& JONES'

HEALTH

BOOTS AND SHOES.

Well-known for their Fine Wearing Qualities and Distinctive Styles. Your attention is invited to the Fine Range of Newest Styles Just Received.

THE SINCERE CO., LTD.

4 ที

COLD CREAM AND FACE CREAM

Daggett & Ramaall's perfect Cold Cream

Pond's Cold Cream

Parko, Davis Cold Cream

Parola Cold Cream (Theatrical)

Houbigant's En Beaute Face Cream

Hind's Honey & Almond Cream

Legrand's Secret Jolly & Bosce Juvenile

Pond's Tanishing Cream

Yardley's Face Cream

Ven-Yus Toilet Cream

Stearn's Peroxide Cream

Stillman's Frockle Cream &

Creme Simon

THE CHINA DISPENSARY

82, QUEENS ROAD.C.

EAST OF CENTRAL MARKET.

JUST

RECEIVED

A GREAT ASSORTMENT OF

EAR-RINGS, PEKING BLUE BEADS, MANILA HATE, SILK LANTERNS AND LAMP SHADIS.

THE SWATOW LACE CO.,

Manufacturers and Exporters

LACES DRAWN-WORK: AND EMBROIDERIES.

178. Queen's Road Central.

PIANOS FOR SALE 'OR HIRE.

TSANG FOOK PIANO CO„,

TzL. 2127.

944, Waxonal Road.

TAXING AMERICANS

ABROAD.

DECREASE

OF AMERICAN HERCHANTS ABROAD..

mariso

connection A very serious situation in with the future development both af American export trade and the American

Dun's merchant

International Review says, was forcibly pointed out

by Hon. Herbert Hoover, Secretory of Com-

in inerce

recent address before the American Marine Congress as New York. This is the fact that the United States by taxing its citizens resident abroad is, in many cases, subjecting them to doable is ulso placing them at a disadvantage as comparesi their competitors of other nationalities who are not so tard by their resportive home governments. The following extracts from Mr. Hoover's address embody his views on this important matter:

with

Despite our expanding export and import trade, the number of our mer chants abroad has decreased in late years and yet if we would have n merchant marine they must be increased. The tax ation policies of our Government have'] been to a considerable degree responsible for this situation.

We are asking our people to expatri ate themselves in order to sell American Our goods and manage American ships. own Government demands in income and corporation taxes up to 35 per cent. of the profits of our merchants regidrat abroad. They also pay taxes to the gov ernment where they reside. Thus wo de mand that they pay doable taxes. We are the only nation who does such a thing. With tax burdens even greater than oura, our competitors in the world today have freed their merchants abroad from this

double taxation For instance, an Ameri

COTTON SHORTAGE...

LANCASHIRE IN FAVOURABLE POSITION.

Mr. Frederick W. Tattersall, the cotton trade expert and statistician, writes from Manchester

Considering the amount of informa tion available, the confusion that exists with regard to Ameriena cotton qupplies this season

is remarkable. The time has arrived when it should be possible to estimate the position fairly accurate. ly. Taking one year with another, the statistics of the United States Depart ment

of Commerce are reliable; `Äs to stacks and consumption. Mr. Hester is the veteran statistician..

The erop forecast of the American Government of 10,051,000 hales, must be,

Wich taken as approximately correct. linters this will meda, a growth of 10,700,000 bales, · The carry-over at the end of last July, according to Mr. Supplies, Hester, was 2,300,000 bales. therefore, for the twelve months will ba. 13,200,000 balos,

The figures so far arúlable indicata a much smaller consumption in 1923-94.) with a probable decrease of nearly 1,000,000 baics. The amount used may be put down at 11,500,000 bales. Theac figures point to a carry-over at the end of this season of 1,300,000 bales.

The seriousness of the situation will be realised when it is remembered that stocks throughout the world in July 1921 were estimated at more than 9,000,000 baics. The position, however, is not alarming, and the talk of famine and using up the last bale is not found- ed on facts. It is some satisfaction to know that Lancashire spinners are more favourably bought than users in cat alher countries, especially the United States.

can merch at firm in London to-day must pay British taxes amounting directly or

up to 50 per cent. of its income. C. E. WARREN CO., LTD. indiren Government comes along

The

and claims the same sum or even

IOTA,

In countries not participants in the war, such as the Argentino, the British mer-

SANITARY ENGINEERS. MONUMENTALISTS. &o.

chant pays no taxes to his home govern OFFICES &)98A, Wanchai Road,

ment, whereas our merchant must pay bis taxes in full

It is, therefore, felt by many as more economic for Americans to stay at home and sell their goods in the Argentino through a German or a British merchant. Scores of our merchant firms. totally dis couraged, have thrown up the sponge,

Before the war there were at least 1,000 American engineers employed at sub- stantial salaries in the territories of our former allies. These men weat abroad to instali American' methods, "American machinery and equipment in the produc tion of w materials, and in transporta

tion.

These salaried workers now find themselves subject, to two gigantia income taxes and thus their foreign mission is un- profitables I doubt whether there are 100 of them left it foreign territories to-day. A vast amount of American machinery and equipment that followed in their wake has dried up.

"There is one phase of this matter of vital importance to our farmers. Over 50 per cent. of our agricultural exports go to Europe. If our merchant firms were es tablished in Europe it would be possible for to give delivery at that end and

But American merchants are not likely to establish in Europe and to pay two income taxes which might absorb up to 75 per cent. of their income.

too short credits to their cus

of which relieve our farmers,

"I do not wish to argue the theory that Americans who are engaged ahrand in re- productive work should not brar their share of the antional burden. I" would only point out that other nations have found it is uneconomic to impose this bur- dea прод them, and that we are left in a prejudiced position. Nor am I pleading the se of the American expatriate whe prefers foreign civilization as a luxury, who is bringing no returns to his country by way of his sayings or by way of his ex- pansion of American trade.

carse

"These two groups are quite distinct. They can be distinguished in tax measures no is to apply the relief only to incomes earned abroad. One is tied passionately to his country's interests and the expansion ita welfare; America to him is the home he serves in managing ber trade. He will yet return with his savings to add to the nations wealth, whereas the other is but a pensioner on our national resources. And: yet as a nation we penalize the one who brings us service and credit,”

This very able and convincing statement

GODOWNB.

T. No. 289.

་

HONGKONG.

ALL KINDS OF BUILDERS' REQUISITES IN STOCK.

Soil. Vent and Rain Water Pipes. Floor and Wall Tiles. Baths, Basins, Bath Fittings. Waterheaters for Gas, Oil or Coal Bual. Also A Few Chip Heaters.

OPEN AND CLOSED GRATES. COOKING

BANGES.

ESTIMATES FREE FOR ALL SANITARY

INSTALLATIONS, HOT WATER SYSTEMS, &c.

GENERAL REPAIRS PROMPTLY ATTENDED TO.

Specialists in Monumental Work-Cut in Italian Marble or Hongkong Granite.

VST RECEIVED: A SHIPMENT OF ITALIAN

Mazazu FLOOR TILES, Prices on Application. ARTIFICIAL WREATHS FROM 8" to 18" DIAMETER IS STOCK.

[1468

MORTON HOSPITAL. Special Attention to Sur. gical Diagnosis. Radium - for Cancer, and Modern Treatment for Diabetes.*

1085 PINE STREET, SAN FRANCISCO, CAL.

[1055

ALLIES.

All Discriminating Smokers

and the

of the position in which American trade HONGKONG CIGAR STORE LTD.

envoys oversens are placed by our taxation

polisica should result saya the Review in an Act of Congress relieving them, at least in part from the burden of this double taxation Obviously

ly we cannot ex- pect Americians of great ability and long experienco in foreign trade to conduct operations for our national benefit as Tumiary

1095

to themselves. Evidently this

15 phase of the matter that the lawmakers at Washington lost sight of when drafting the income tax laws and Mr. Hoover has performed a distinct pub- service in directing attention to it in such a forcible manner.

́HONGKONG SHARE MARKET

ULOSING QUOTATIONS

(83

When in doubt about your ayaa or your glasses

Consult

CHINESE OPTICAL CO.

Eye-sight Specialista

67. QUEEN'S ROAD CENTRAL

Hongkong.

Dirt

in Solution . Extracted from Bau- proodly Cleaned Garments

DO NOT TRY TO REMOVE DIRT STAINS,

ETC. WITH

A BRUSH.".

You Don't Clean folled Handkerchi

with a Clothes Brush.

OUR DEYCLEANING PROCESS WILL ENSURE YOUR CLOTHING BEING FREE FROM GERM, DUST AND OTHER DANGEROUS MATTER, WHICH WINTER GARMENTS GATHER WHEN WORN.

TEAM

EVERY ARTICLE `THOROUGHLY STERILIZED WITH LIVE STEAM WHILE BEING PRESSED.

SATISFACTION ASSURED.

LAUNDRY HEAD OFFICE and WORKS. YAUMATI, Təl, K. HONGKONG DEPOT. 16, Stanley Street, Tal. O 1379.

63, Praya East... KOWLOON DEPOT: 19, Canton Road. CANTON : "18, Sharki Central, Eart. KOWLOON HOTEL DEPOT.

MATSUMURA,

6. | Arsenal Street, Bongkong,

DEALER IN

GENUINE

ART CURIOS

•

Ancient and -Modorn Successor to Nikko

co.

Write or Phone or completa PRICE LIST.

Artistic Gold, Silver, Bronte, Damascene, & Lacquer Wares, Satans Porcelain, China Tes Services, Embroideries, Silk Lampshades, etc.

GREAT REDUCTION SALE

ALL KINDS OF LADIFS FANCY GOODS including Swstow Drawn Work, Canton Embroidery, Hand-made Lace Ivory-ware, Beaded Works, etc., etc.

DON'T MISS THIS OPPORTUNITY.

CHINA DRAWN WORK CO.

To think of

(YUEN CHEONG).

40, Queen's Road Centri

SEA-GRASS and BATTAN FURNITURE that will give you the Utmost SATISFACTION in every point of EXCELLENCE is

to think of

K711.

'DO BE CHAIRFUL" COMPANY

51, Queen's Road Central,

Makers of Furniture, the QUALITY of which has long been accepted by knowing Furniture-buyers as the STANDARD OF MERIT.

BICYCLES.

Telephone LADIES', GENTLEMEN'S OR TANDEM

*FOR HIRE OR SALE. Boys' and Girls' Bicycles Just Arrived,

HANG LEE CYCLE CO.,

33, HAIPHONG ROAD, KOWLOON, Next to PALACE HOTEL.

Telephone E711.

The

CITROEN.

The Last Word in Car-Economy

RUNNING COSTS LOWER..

Less Tyre

..i(

Less Oil

灯

Winner 3 year running 1920-23-22. Grand Prix for Lew Consumption. I

Cars for Salo:

LEPACK CO., LTD.

•

-50-52, Queen's Rd. C.

EXERUARY ITÚ, 1024.

Hongkong and Shanghai

Велка

Canton Insurances

Union Insurance

$1,147) $710 ..8938 b.

158 b.

$70 b. Sugar... 1278 b., 276/277 85.

(Combined) Tis. 33 b.

Douglas Steamships...

*Star Ferries

kats

Kowloon Wharves ... Whampoa Docks Shanghai Docks

Hongkong Lands Ενο Cotton China Providents

Dairy Farmer China Lights

Hongkong Trama

$180 b. &. $169 b.

PREPAID

WANTED

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