1924-03-08 — Page 3

Page

“DECOLITE

FIRE-RESISTING FLOORING

(Awarded Gold Medal Franco-British Exhibition)

JOINTLESS. HYGIENIO & NON-SLIPPING

Laid by Our Own Workmen on

STEEL, WOOD OR CONCRETE.

THE UNITED ASBESTOS ORIENTAL AGENCY. "LTD.

Tel Contral 230.

RADIO.

3, Queen's Buildings.

TUNE IN" with a RAY-O-VÄÇ "B" Battery using at the same time a RAY-O-VAC "A" Dry Cell Battery for your Filaments. See how clearly the signals will come in.

The National Radio Engineering Company of Atlanta," Georgia, covering an investigation made by them in the interest of Railway Electrical Engineers, report that-

H

The Battery is the most important part of the radio apparatus, and many causes of trouble in Instruments"are"often chased by poor batteries.

We hare found only one make

of Battery that is no constructed that satisfactory service can be obtained on heavy duty such as work of the class we are undertaking. The RAY-O-VAO" Batteries have stood all the tests and have proven their construction and material by actual use.

They have proved ABSOLUTELY SATISFACTORY IN EVERY WAY.”

These Batteries are now obtainable from:-

DE SOUSA & CO, LTD. 2ND FLOOR, ST. Gronor's BUILDING.

TEL No.-CESTRAL 1204.

BELLOC'S CHARCOAL

PREPARED ACCORDING TO DE. BELLOCS PROCESS

INLOZENGES & POWDER.

21

Will relieve Gastritis and all Kindred Diseases when drags fail

For centuries charcoal has been recognised as a Purify or and used in Stomach Disorders. Dr. RaLoc's Method of Preparation makes it assimilable by the most delicate.

THE

Telephone K711.

OBTAINABLE AT

FRENCH STORE.

Beaconsfield Arcade.

BICYCLES

LADIES', GENTLEMEN'S OR Tandem FOR HIRE OR SALE.

Boys' and Girls' Bicycles Just Arrived.

HANG LEE CYCLE CO.,

33, HarrHong Bois, KOWLOON. Next to PALACE HOTEL.

HONGKONG DAILY PRESS, SATURDAY, MARCH STE, 1924.

THE

CHINA'S CONSOLIDATED

Telephone K711.

The New Route to EUROPE

TROM the Orient via the Admiral Oriental Line to Seattle or the Pacific Mail Steamship. Company to San Francisco, to New York by rail- to Europe via the United States Lines.

Through reservations at special rates. U. S. Lines Agents in Seattle and San Francisco meet all ships, UNITED STATES LINES.

Agents

"

ADMIRAL ORIENTAL LINE

14, Des Voux Road, Hanglory...... – PACIFIC MAIL STEAMSHIP Company:

Queen's Baldies, BOOKLINE, Agencies in Principal Cities

Managing Operators for U. S. SHIPPING BOARD

LOAN SERVICE.

INSPECTOR-GENERAL'S REPORT

FOR 1923.

WARNINGS OF LAST YEAR FULLY REALIZED.

The Shanghai Bankers' Association have received the following memorandum from Sir Francis Agles, showing how his pre- diction of a year ago of a deficiency of funds for the Consolidated Loan Service has been amply justifed:-

The year. 193 opened with all obliga tious to December 1st, 1992, either met or fally covered, us was shown in the statement appended to the Inspector- General's Memorandum of January 14th. 1923, handed to the Shanghai Bankers' Association. In that Memorandum the Inspector-General also showed that in. order fully to meet the Loan Service for the year 1923 sum of 821,384,301 addi- | tional to the balance carried forward from 199 would have to be found. In estimating the possibility of finding this sum the Inspector-General stated that there was no probability that payments from the Salt Revenue and from the Ministry of Communications, due under- the Lona Regulations and amounting to In CUD- $20,000,000, would be resumed, sequeter the Sinking. Funds would have to depend entirely upon the suns avail ! able from the. Customs revenue surplus. 1 Attention was drawn to the fact that, owing to increased cost of foreign obliga-1 tions caused chiely by the drop in ex change and by increased Custom ad- ministrative charges. the surplus avail

BLUE BIRD

ICE CREAM

AND

CONFECTIONERY

PARLOR

· Corner of Pedder St.

AND

Queen's Rd. Central

Old Post Office Site.

TRY OUR

DELICIOUS

able for 1023 would he diminished by a SPECIAL

"The

amount estimated at $14.324, 187. dollar equivalent of the actual sum absorbed owing to these causes was in round numbers, $13,900,000.

HURPLER SHORT OF EXPEITATION -

In venturing to give an estimate of the probable surplus for the year 1923, the Inspector-General stated that, making due allowance for the effect of the revised import tariff. the surplus could not be expected to yield more than $17,355,513. The actual surplus was Shanghai Tis. 11,762,083.02, equivalent at average rate of exchange to $18,293,533. Of the above sum 812,291,976.39 were devoted to Con- solidated Long service for 1923, paking with 86,136,749.08 carried over from the 1092 surplus a total of 817728.24.40 from Customs Revenue available for meeting the 1923 liability. The balance of the 1921 revenue surplas has, in accordance with previous practice, been carried over partly to meet foreign loan obligations maturing early in the year 1921 and partly, to cover interest coupons of the Consolidated Loans maturing in February and March, 1991, as it is impossible, without invading the priority of foreign loan and Indemnity obligations, to draw an current revenue for the sinking fund of the Consolidated Loans during the first three months of any year.

·AMORTIZATION 88,249.6113BORT.

•

Two statements are appended to this report, (1) showing the cash transactions during the year 1923, and (2) giving the total liability for the year 1920 and show- ing how far with the funds available, and after making due provision for foreign and Consolidated loan payments falling due in the first three months of 1924, the Inspector-General has been able to meet it. [Owing to want of space these tables bave to be omitted, but the upshot of them is shown in the next sen. teace.-ED.]

It will be seen that all coupons and drawn bonds due but not yet presented. for payment up to the end of 192 have been covered in full, that all interest pay. ments due in 1822 according to schedule have been met or duly covered in full, and that amortization due in 1993 has fallen into arrears" to the extent of $5,919,611.

A PREDICTION FULFILLED.

The warning conveyed in the Inspector General's Memorandum of January, 1923 that. without the support of the Salt and other revenues allocated to the sink ing fund, it would be impossible fully to maintain the Consolidated Loan Service is thas seen to have been justified, and, until farther loan service funds are re- lensed by the extinction of the 3rd Year Loan, amortization of the Consolidated Loans must be expected to lag still far- ther behind.

COFFEE

65 cts, per lb.

BOWERN &

Naj & Museum EOAD, "

SHANGHAL

--

Members British Chamber of CommercA hanghai). Mr. T. W. BOWERN, Fallow of the Institute of Chartered Shipbrokers, Itser porated by Royal Charter, London,

Brixxx Aamuts and SHIPBROKKA, For the Parahase, Sale and Charter of Vessels of say Tanih delivery Chine at Very Low Passenger and/or Cargo, New and/or Old,

Priced.

SALVAGE OPERATORS, MARINE SURVEYORS AUCTIONEERS, Coal MasogaKTR TRIGHT BROXIES, METAL Merchants, Machinery For Sale, New and Old in First les Condition.

rozrES AND EXPORTERS, SHAZE-BROKIKI Members Shanghai Share-Brokers Amoca-

do).

SOLE AGENTS FOR CHINAP GLXEN'S PARENT ÄNCHORA,

SAMUEL WAKE & Co. LTD. (Sheffield), High-Class Steel -Manufacturers (Tan) Brand)

Catalogues and Prico-Lista on spplication

Cinquires. Walnomad

CABLE ADDRESS: Bowen, Shanghai.

Con Bentley's, Scott's, A.B.C

5th Edition and, Imuroved.

ALLIES.

All Discriminating

Smokers

and the

HONGKONG CIGAR STORE LTD.

[63

When in doubt about your eyes ar your glasses Consult

CHINESE OPTICAL CO.

Ey-night Specialists

Provided however, that no violent 67 QUEEN'S ROAD CENTRAL fluctuation in exchange takes place, and that Customs revenue receipta do not fall appreciably below their present level, all interest payments during 1924 are reasonably assured.

F. A: AGLEY, Inspector-General of Customs. National Consolidated Debt Office, Peking, February, 2nd, 1924.

SIX MOST IMPORTANT WORD'S.

The six most important words in the English language, according to members of the Faculty of Princeton University, loyalty, courage, duty, spo

ship, self-respect, and humour.

such as love, truth, service, yes, no knowledge," were chosen by some of the profesors, but the six mentioned received the most votes and are given in the crder of their importance.

HONGKONG SHARE MARKET

་

QLOBING QUOTATIONS

March 7, 1974. Hongkong and Shanghai

*******-*-***.........$1,150 b.

Panka

Union Insurances a dens

Btar Ferries

Kowloon Wharves Hongkong Lands Hotels

Hongkong

Ewo Cottons Dairy

Farma

Watsons

82. 171 8 8121 L

241 b

- 28 za

118i b

Hongkong Electrica.....

........$34 BB.

Chin Lights

Hongkong Trams (.. __ ......$57] b._

·k-buyers; a—sellera; s.—eatur:

Hongkon

Send for Completa Price List

CLEANTES

STEA M

"JUST AS

PRETTY AS

WHEN TWAS

NEW!"

IF YOUR

GOWNS OR

FROCKS

CANNOT BE

WASHED.

"WHY NOT

HAVE THEM

DRY-

CLEANED.

AY WE

SERVE YOU?

LAUNDRY··00

HEAD OFFICE and WORKS: YAUMATI TL 12 HONGKONG DEPOT:16, Stanley Street, Tel O 1879,

69, Prays. East. KOWLOON DEPOT: 19, Canton Road.. CANTON: 19, Sharki Centrai, Eart. KOWLOON HOTEL DEPOT.

14.

Write or Phone

for PRICE-LIST.

MATSUMURA.

5, lArsenal||Street, Hongkong.

ART

DEALER IN GENUINE

CURIOS

Ancient and Modern

Successor to Nikko

Artistic Gold, Silver, Bronze, Damascene, & Lacquer Wares, calauzum Porcelain, China Tea Services, Embroideries, Silk Lampshades, etc.

GREAT REDUCTION SALE

ALL KINDS OF LADIES' FANCY GOODS

including Swatow Drawn Work, Canton Embroidery, Hand-made Lacs Ivory-wars, Beaded Works, etc., etc.

ง

DON'T MISS THIS OPPORTUNITY.

CHINA DRAWN WORK CO.

To think of

(YUEN CHEONG)

40, Queen's Road Central

SEA-GRASS and RATTAN FURNITURE

that will give you the Utmost SATISFACTION in

every point of EXCELLENCE 1

to think of

い

"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..

S. O. A. E, O.

THE FAR EAST OXYGEN AND ACETYLENE CO., LTD.

DEALERS and”” MANUFACTURERS of Oxygen, Löstyions, Carbonio Anić, Ammoniae, Anhydrous sulpurous gasos, Carbide of Calcium, Motor Cycle scotylene tanks," and all necess equipment for low and high pressure autogenous welding.

Autogenous welding of all metal by Oxy-Acetylenie" and

Electris prosOBROS.

Boiler Repairs a speciality.

Apply No. 20, Bee Vux Road Contrai, And Floor, Tel. Central No. 2844.

Prompt refilling at moderate prions of all kinds of Motor Uyole soobylaze tanks.