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THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

Tel Central. 238.

SOLE AGENTS FOR

"PUDLO"

Makes Cement Waterproof

FEUSOL

99

The Immovable Fire Cement

RADIO.

THE HONGKONG DAILY PRESS,

2, Queen's Building.

"TUNE IN" with a BAY-O-FAC "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 Engineera, report that:-

"The Battery is the most important part of the radio and many causes of trouble in instruments are often Apparatus. caused by poot batteries. We have found only one maka of Battery that is so constructed that satisfactory service can bo obtained on heavy duty such as work of the class we are undertaking. The RAY-O-VAC" Batteries have stood all the tests and have They proven their construction and material by actual use. have proved ABSOLUTELY SATISFACTORY IN EVERY WAY.”

Telephone. K711.

These Batteries are now obtainable from:--

DE SOUSA & CO, LTD, 2ND FLOOR, ST. GEORGE'S BUILDING,

TEL No.-CENTRAL 1264

BICYCLES.

LADIES', GENTlemen's or Tandem FOR HIRE OR SALE. Boys and Girls' Bicycles Just Arrived.

HANG LEE CYCLE CO.,

To think of

19, HAIPHONG Road, KOWLOON, Next to PALACE HOTEL.

Telephone K11.

SEA-GRASS and BATTAN FURNITURE

that will give you the Utimoat SATISFACTION in every point of EXCELLENCE is

to think of

"DO BE CHAIRFUL" COMPANY

51" Queen's Road Central

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

The Convenient Route to Europe

♥AIL from Yokohama, Kobe, Shanghai, Hong

Senger Manila to Secale of San Francisco

cross America by rail and sail from New York to Plymouth, Cherbourg, Southampton or Bremen via the United States Lines...

Investigate this now fast route to Europe today -special through rates. Through reservations. UNITED STATES LINES ADMIRAL ORIENTAL LINE 1. 6, Des Vaux Road, Kongkowy. PACIFIC MAIL STEAMSHIP COMPANY

Agent

Queen's husding, Horgorg AGENCIES IN PRINCIPAL CITIES

Managing Operators for U. S. SHIPPING BOARD

COMPANY MEETING.` EWO, COTTON MILLS. MANY SERIOUS HANDICAPS,

At the annual meeting of shareholders in the Ewo Cotton Mills, Ltd.. held at Shanghai last week the Chairman (Mr. "A. BROOKE SMITH) in his address said:

The profit fog, the year was Tis. with the amount 858,738.00, which, brought forward, leaves Tls. 500,013.39 Considering available for distribution. the many difficulties encountered, I trust shareholders will not be dissatisfied with the result shown. I will now proceed to comment briefly on the proposed alloca tion of profits. The dividend of 8 per cent. on the preference shares, absorbing Tis 22000, is in accordance with the terms on which these shares were issued. dividend on ordinary The suggested shares of Tls. 0.53 per share, equivalent to 11 per cent, will, I trust, meet with your approval. The amounts provided for depreciation of buildings and of plant and machinery are rather higher than those of last year, but, although liberal, are not excessive. The amounts written off water supply, furniture and motor car do not call for comment. During the year we have spent on "special repairs and renewals Tis, 98.436.63 and by adding Tis. 40,000 to this fund, now standing at Tis. 81,5833, we are carrying out our policy of providing that our mills will be kupt up to the highest possible standard of efficiency Our staff at the mills have worked whole-heartedly in the interests of the company and 1 feel sure that the sum of Tis. 20,000 recommended as a bogus to them will have your sanction. It has been well earned and will be highly appreciated.

.

A GOVERNMENT DEBT.

Turning to the balance sheet, you will notice that our reserves remain intact, On and aggregate Tla. 4,101,356.28. December 31st we had at the credit of fund Tls. Chinese superannuation 142,814.13 and as this is more than suf- ficient to cover all known" liabilities to our employés, co call need be made on last year's profits to augment this fund You will observe that further additions have been made to buildings and plant And machinery and I am hopeful that the money invested will be productive of satisfactory results when conditions are more normal. The amount due from the Chinese Government represents the bal ance and interest due co" cloth supplied to the Board of War as far back as 1919, and although we have exerted and con- tinue to exert every pressure through H.M. Minister and our own representa-

THURSDAY, MARCH 13TH, 1924.

10 or girl under 12 would be admitted in- side our alls. Our efforts in this divge- tion have met with some success, but it is only by constant watching on the part of the stag at the mills that, we are able to maintain this rule. There is no doubt however, that workers, both parents and children, would have been better pleased had the change not taken place.

APOOR OUTLOOK.

From the remarks I have already nude, you will realize that I am not optimistic about the near future, hut given penco and good order in the land and reason- shly cheap cotton. I have not a doubt in my mind that the cotton mill industry will again flourish, especially if the Gov- ernment takes steps to foster all indus tries by the abolition of taxation that is now a serious handicap to rapid develop- ment, which would provide greater -om- ployment for the masses whu exist on the borders of starvation and for the want of a better means of livelihood often turn their bands to banditry. Some Chinese- owned mills have been closed down for many weeks and a number have been working short time for months, but the redured output has not yet made itself felt and spinners cannot to-day purchase cotton and produce yarn without suffer- ing a severe loss. The cloth situation is somewhat brighter, but the margin of pro- fit leaves a great deal to be desired.

GERMAN RICHES LUXURIES PAID FOR IN DOLLARS

AND STERLING,

A Strasbourg, correspondent writes:— Alatians have recently had an oppor tanity of seeing at first hand the exact economic position of many thousands of Germans. The French Government allow. ed it to be known that former German residents of Alanco would be allowed" to return for Christmas and New Year holi days without passport difficulties.

Thousands of Germans availed them- clves of the opportunity. Most of them put up at the best hotels and made par chases of jewels, motorcare, fury, and other luxuries.

A German

man family consisting of father, mother, and a young son, aged about 15, who stared at a well-known hotel here. had the following menu for their New Year's dinner: docen oysters, £ fried moles, beefsteak with fried potatoes, 9 rout fowls, souflé, cheese, and fruit, bottles of champagne and coffee.

The Germans as rule paid in dollars, francs, and pounds sterling.

tives in Peking, it is only occasionally C. E. WARREN CO. LTD.

that we receive a small payment on ne- count, notwithstanding the fact that the debt, is fully acknowledged by the Chi- nese Government. Possibly, we are less unfortunate than some other suppliers of material to various departments of the Chinese Government, nevertheless the présent situation is most deplorable, and I feel that we cannot hope to see con fidence restored in this country until a government is established capable of keeping peace and good order and meet- ing its financial obligations. The enrich ment of numbers of officials and militar ists is undoubtedly retarding the progress of this vast country, and it is regrettable that the Powers do not take concerted action to bring about unification, without which industries will, I am afraid, con- tinue to languish.

,"

A DEPRESSING YEAR.

The year under review has been the worst experienced by the cotton mill in dustry in China for a great many years. While we were able to work full time at all our mills except the Yangtszepoo mills, where we adopted short time dur- ing July and August, we had not anxious tones fur most of the year and I regret that the outlook for the near future causes us much concern. Except from June to October, the marketing of our products was most difheulé and during the greater part of the year yarn was seld at a loss. We were more fortunate with cloth and the products of our other departments, which, together with fortunate purchases of cotton, were mainly responsible for the year's profit. On all sides we hear of additions to weaving plants in China and the day may not be distant when cloth will be a non-paying proposition as we" have at times seen it in the past.

EXORBITANT COTTON PRICES. During the whole of 1923 cotton was maintained at a very high level and dur ing the last few months of the year reached exorbitant prices, owing to the world's shortage, and while we have re- eently experienced a substantial decline, long way from the point we are still where we can expect demand for yarn and cloth will be more than to all the urgent needs of consumers. I would here like to enter a protest against the malprac tice of adulteration by water which has become increasingly common-in fact, it may now be considered general-in all Chinese Cottons that are sent to Shang- hai. As much as 20 per cent. muisture has frequently been found in deliveries to the mills-this means that some 12 per cent, of water has been fraudulently add ed-and I need hardly say, that this adul teration causes rapid deterioration, he sides involving oo little danger of fire The through spontaneous combustion. mizing of large quantities of inferior cot- tons with better qualities continues un checked and unless these two fraudulent practices cease it will mean that mill owners here, being unable to rely on Chinese cottons, will have to look abroad for their supplies to a greater extent than hitherto.

CHILD LABOUT..

As you are aware, there has been con siderable attention devoted recently in certain quarters" to the employment of child labour. On more than one occasion I have pointed out that the real remedy for the state of affairs now prevailing is legislation and inspection by competent and honest officials throughout China. As this is not likely to be brought about immediately, we issued instructions that from September 1st, 1923, no Soy under

SANITARY ENGINEERS, MONUMENTALISTS, &c.

98A, Wanchai Road,

HONGKONG.

OFFICES

GODOWNS.

T. No. 269.

ALL KINDS. OF BUILDERS' REQUISITES IN STOCK.

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

OPEN AND CLOSED GRATES. COOKING

RANORS.

ESTIMATES FREE FOR ALL SANITARY

INSTALLATIONS, HOT WATER SYSTEMS, &C.

GENERAL REPAIRS PROMPTLY, ATTENDED 10.

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

J CaT RECEIVED: A SHIPMENT OF ITALIAN MARBLE FLOOR TILES.

Prices on Application. ARMIFICIAL WREATHS--YRon 8 to 18" DIANITE IN STOCK.

(1488

Prophylactic

Send for Complete Price List

DRY-

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

HEAD OFFICE and WORKS: YAUMATI, Tal. K. 82. HONGKONG DEPOT:18, Sanley Street, Tol © 1979.

6. Prays East. KOWLOON DEPOT: 19, Canton Road. CANTON: 19, Sharki Central, East. KOWLOON HOTEL DEPOT.

Write or Phone

MATSUMURA.

5, Arsenal Street, Hongkong. DEALER IN

GENUINE

ART CURIOS

Ancient and Moderni

Successor to Nikko

for PRICE-LIST.

Artistic Gold, Silver, Broncs, Damascene, & Lacquer Wazes, datsume 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 Lace Ivory-wars, Beaded Works, etc., Bele

DON'T MISS THIS OPPORTUNITY,

CHINA DRAWN WORK ÇO.

(YUEN CHEONG)

40, Queen's Road Central

PIANOS FOR SALE OR

TSANG FOOK PIANO CO.,

TEL. 8137,

HIRE.

94, WAROWAX ROAD.

Tooth Brush

Ask your druggist for the brush L in the yellow box-he knows

S. O. A. E. O.

THE FAR EAST OXYGEN AND ACETYLENE CO., LTD.

DEALIES and MANUFACTUBERS of

Carbonio Acid, Ammoniae, ánhydrous SAS Acetylene,

gason, Carbido

of Calcium, Motor Cycle acetylene tanks, and all necessary. equipment for low and high pressure sutogenous welding.

Autogenous welding at all metal by Oxy-Acotylanlo and

Electric proOOSSES, ..

Boiler Repairs a speciality.

Apply No. 20, Des Voeux Road Central, and Floo

Tal. Central No. 2844.

Frompt refiling at mederste prioos of all kinds of Motor

Uyole acetylene tanks.