1924-07-12 — Page 4

Jaeger

Silk and Wool

Vests and Trunk Drawers

:

Tropical weight underwear of a fine mixture of silk and wool.

Absorbent and non-irritating to the

most sensitive skin.

All sizes in stock.

Prevents chills. ·

Mackintosh

& CO., LTD.

MEN'S WEAR SPECIALISTS. Alexandra Building. Des Voeux Road.

GREEN ISLAND CEMENT CO., LTD.

Best Portland Cement

SHEWAN, TOMES & CO.,

GENERAL MANAGERS,

HONGKONG.

WHAT IS AN ARIDOR ?

THE MOST EFFECTIVE

"DRYING JAR

MADE.

YOU CAN NOW PROTECT YOUR CIGARS AND TOBACCO FROM HUMIDITY.

STOCKED BY

THE HONGKONG DAILY PRESS, SATURDAY, JULY 1T, 1924

ABAQUERIA FILIPINA

LEADING TOBACCONISTS, OPPOSITÉ QUEEN'S THEATRE

ΟΝ

NOW

SALE

Exceptional Reductions in All Departments.

THE WING ON CO., LTD.

HONGKONG.

BACK from the MARKET SALE

IN FULL SWING.

A Purchasing Trip Abroad has equiped Our Store with the Best and Newest Goods. We are offering them at Bargain Prices.

YEE SANG FAT CO.

THE TRADE OF TIENTSIN. INTERESTING REVIEW BY CUS TOMS COMMISSIONER.

PIECE GOODS TRADE IN SORRY CONDITION,

הי-

THE GARDEN OF EDEN.

NEW EXPEDITION TO TEST MONGOLIA THEORY.

Bayard Colgate, chief of motor tran. sport: Mr. J. McKenzie Young, motor transport; Mr. Ralph Chaney, botanist; Mr. Albert E. Jokuson, palarontologist; and Mr. George Olson, assistant.

18

Mr. R. C Andrews, leader of the Andrews Expedition, has returned to Mr. E. B. Howell. Commisioner or China to lend a new expedition, to Men- Custoius at Tientsin, in his report on gelia. The personnel includes Me. Walter the trade of poft during 1923 writes:-

¦ Granger, chief palarontologist: Mr. Char, A general summing up of the year's by P. Hockey, chief geologist; Mr. James activities results in disappointment in P. Chapin, ornithologist: Mr. Clifford H. So far as imports are concerned and Com. Pope, assistant in zoology: Mr. J. B. plete satisfaction as fogarils exports. In Shackleford, photographer · Mr. :· 8. view of the favourable conditions attend. ing the export trade, more especially during the latter part of the year. and of the consequent impetus to the pur. chasing power of the port, so absolute a wontradistinction would appear to fe

Mr. Andrews is going dirvet to Peking. contradiction of economic ethics in that where he has Beadquarters in an ancient the question immediately arßes as t8j temple, tomake arrangements for the why, seeing that money has been bouring expedition. A etravan train of ena into the port. import orders have been camels, fonded down with tons of sup- Prestricted. The reasona are manifolds, wiz be sent out from Kalgan ubout

December 1st towards a point abont 1,000" Throughout the year imports have suffered miles in the interior of Mongolia, south from a state of indecising, with entition of the Altai Mountains. This is the as the prédominant feature. Piece įgovula ¦ point where the expedition terminated a sorry condition. The trade last summer, and where the famous The enmel dinosaur eggs were found. which had been sucessfully weaned from train, travelling at a speed of 15 miles a supply throughout Shangani to direct day over waste lands where the tempe orders from abrand, has now largely rature at that time of year drops as low vertic, to the former channel. Large eders and foresight on the part of Chinese merchants, ha given place to the satisfying of actual requirements of the had to mouth principle, Everywhere confidence appears to be shaken, and the memory of the 1920 delstele remains in

Early in March next year the persoaiel delible. Furthermore, the high prices de-

of the expedition will leave the United manded by Manchester, and the destrue April where they will be met by Mr. States, arriving in Peking early in. tion, by "fre consequent upon the earth-Andrews. The group, totalling 40 men quake in Japan of 25 per cent, of that including coolies and interpreters, will country's spindles, casts an impenetrable start out in right specially-equipped hazr over future prospects Business in motor-cars on their long trek across the regard to other importations, although desert.

They will catch up with the

are in

reach the specified point about April 1st. as 50 degrees Fahrenheit below zero, will

two points along the way of supplies will be placed, to be picked

dumps up later by the expedition itself.

F

This time instead of booking in

strain 700.000 jenis old, we will dig in

000.000 yram old.

not up to expectations, has been conduct-camel train some time in May, and begin ed on sounder lines, with a view their tedious teil of delving into the pail eliminate embarrassing credits, and it is i to be hope that, as an outcome of puist Mr. Andrews was asked by a Persistes

in search of history-making, bones. experiener, the fettered import market is passing through a phase which will of success in his attempt to take back presentative in Japan if he was hopeful eventünte in an all-round healthier tone.

to the Museum of Natural History the A degree of blame for unrealised expecta remains of que resotest upright walking tions is again laid to amobscary political Situation and to brigandage in the in-smibed under his nose glasses," and we.

It is *Herstor

big gutable," he terior. These obstacles, although serings do not expect anything. We do not knew. in themselves, in that they restrict the whether such rains do exist, for we freedom of trash instil enution into bave never look for them. No one has onders abroad, inhace the spenblive in our previous strips we were concerned factor in trade, and impede the liquidation of stocks, do not constitute we first wanted to establish the free that only with muce ancient rock serata. for chief factor. The needs of a country the fest anjinal life sprung from that must be gratified, and its products must play their part in satisfying the world's lemand: hat the main issue must be sought in market prices and the circum

There are many signs in our favour. stances affecting the World coalitions First of all, it is now proven fact are as yet far from unrmal, as is evinced that at one time the continent of Asia by the British Eon of Trule enten was linked with America, as well as lations of average import and exporu wah Europe. Thutical fossil reuniting values in the spring of the year anderhave a found in the United States nudi review, which, compared with the set in Europe. But cientista bave been at 10 per cent, values for with imports ob- loss to know where acestors of taining in the spring of 1914, reveal and these extinct animals lived. Up to Last increase of 46 per cent. Semper we had the theory that Asia was values and 4 per ont. in the export the suuress of this animal life, for it was values. This unbalanced condition of believed that Asia, partizalarly Mon- affairs is important in that the disparity golia, was the oldest portion of the earth. reduces the buying power of countries we other porcs were eating - such as China, owing to the products of that is being periodically submerged industrial, enuntries being relatively 20neath son and fan rising again. Mong much higher than the products of congolia was high and dry, giving animal tries proving the raw materials. It is a chaser to develop therefore to be anticipated that the trend

This is what I mean hy referring to towards the establishment of a favourable Mongolia na the Garden of Eden. Not balanes of the tide of this port, an in- the Biblical garden, which I do not think Tease of exports over imports will conever existed, but a land of plenty where tinue in the ascridant-more especially men and beasts were given an opportu in view of growing local industry-untily to develop. Life there was not easy- a more even adjustment of levels obtains going, however. No one ever just st in the foreign markets Indications are down and reached out to apple tree limbs. more in favour of suck adjustment for food. For history has proved that being brought about by augmentation of humaa or animal life over flourished or the brice of materials rather than by a developed in "tropical funds where exist- further fall in manufactured goods. once drew out little effort."

JAPAN'S TRADE.

The boycott instituted against Japanese goods which happily caine to an end at agents were attempting to evade their Tantsin on the last day of August, is obligations towards the foreign exporters but little responsible for that country's and Chinese in on the grounds that failure to maintain its increase in the the dealers had failed to deliver, owing to the sudden and unprecedented rise in import market. The predominat reason Tiek in the industrial depression from the market price of the staple," which, which Japan is suffering. It must be re-at the end of Detailæer, reached the record called that, during the years 1917 to 1920, height of Tix. 42. The rise was occasion- there spring up ip Japżu muineroused by the pressing demand for cotión mushroom, factories to supply foreign by Japan as a result of the loss by fire markets and China is Japan's seind following the earthquake of a huge num largest customer with cuntodities which ber of bules in Tokyo and, further, owing could no longer be produced in Europe to that nation's extraordinary require owing to the War. Japan, enjoyed ex-ments brought about by the samé cala- ceptional prosperity under these coudi mity, The Japanesn theriselves had con- tions until the tast two years, when the tracted for some 80,000 bales, of which, effects of reconstruction in Europ beat the beginning of November, only cine manifest, and Japan was confrout- 15,000 had been realised, and, unable to ed by competition most difficult to with- obtain further deliveries, were forced in Etand in that its superiority lay in the the face of circumstances to rewart to the resumption of a well-organised and buying of spot cargo. Despite the fact logically managed trade, whereas the that Japan's immediate requirements adopted trade of Japan, excepting a few were satisfied towardan the middle of articles such as electrical accessories, November and that the price then fell to paper, etc. is now reaping the aftermath Tls. 37 with a rapidity which revealed of abnormality and capitalisation in the the artificiality of the sadden, rike form of industrial instability and ex-October, only " negligible, quantity o ccasive cost of living affecting labour and contract cotton was released before the production..

year ended. That n deficiency in yield

raw

Exported

1922.

The success of the export year was cannot be made the excuse for the wholes sadly marred by a grave crisis which pale repudiation of contracts is borne out developed in the local cotton market ut by the following statistics (July to the beginning of the last quarter of the December) :-) year and cast a gloom over the mercan-

1023- tije community, which every effort had

Pieuls. Pietis. failed to dissipate when the year closed,

to foreign The growing importance of the

countries.......312,725 978,223 cotton export trade from Tientsin will Exported to Japan only. 129,574-931 readily be gauged by the following more especintly when these figures are gures: 259,608 piculs in 1920, 454,80% studied with the knowledge that the de picula in 1021, and 549,079 piculs in 1022 creased yield was made up for by the Since forward comtenets constitute in cultivation of a greater ares and that the essential feature of trade on iffe scale of staple has been deliberately withheld the figures given above, previous to the against delivery at contraet price, and gathering, of the 1923 cotton crop conceded only on spot quotations to-Japan. trusts, for some 400,000 picula had been As to which of the parties fu the network concluded for delivery in Géptember. of channels leading from the farokr December at an average price of about through the dealer to the commission Tis. 28 per picul. In October it, became agent is most to blame for the catas apparent that the Chinese commission trophe is a matter beyond the scope of

Continued on next column.) this report

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