1924-12-02 — Page 3

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THE HONGKONG DAILY PRESS, TUESDAY, DECEMBER 2ND, 1921

H

"THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

!

Tal. Central 258.'

SOLE AGENTS FOR

2, Queen's Buildings.

BELL'S UNITED ASBESTOS CO. LTD.,

MANUFACTURERS OF

Victor Metallic," "Dagger," "Quadruple" and

"Reefer" Packings.

Bell's Asbestos Compositiona.

Salamander" Engine & Cylinder Oils". "Salamanderite Jointing,"

QUEEN'S THEATRE.

MONDAY to THURSDAY, Dec. 1st to 4th,

*rt 2.30, 5.15, 7.15 & 9.15 p.m.

ALICE LAKE

IN

"THE GREATER CLAIM "

A Drama of that in Life which is More Powerful than

«Passion, and which is Finer ever than Love.

ADDED. ATTRACTION at 5.15 & 9.15 p.m. Miss BESSIE LESTER

The Popular American Comedienne'

PRICES OF ADMISSION:

At 5.15 pm-81.20, $1.00 & 60 Cts At 9.15 p.m.-$1,50, $1.00 & 60 Cts.

Soldiers and Sailors-Half Price to Stalls.

FOUNDATIONS PILING

FRANKI

SYSTEM

LETTERS PATENT IS HONGKONG No. 13 or 1924.

We are the sole licencees for China (including all Treaty Ports and Foreign Concessions, but excluding French Indo- China) and for the British Colony of Hongkong and the Portugese Colony of Macão.

Sites Examined and Reported upon Free of Charge.

Apply to

HONGKONG ENGINEERING & CONSTRUCTION CO., LTD.

Hap Orrick-Powell's Building, Des Vaux Road Central, Telephone Central 4581 (two lines).

[1351

XMAS CIGARS

TO SEND HOME.

THIS IS THE MONTH TO POST YOUR XMAS PRESENTS HOME WE SUPPLY THE BEST BRANDS

|

...

OF CIGARS AND PAY THE DUTY.

A GOOD CIGAR-THE EVER WELCOME "GIFT.

ABAQUERIA ILIPINA

LEADING TOBACCONISTS

THEATRE

OPPOSITE: QUEEN'S THEATRE

ROYAL

SIX NIGHTS COMMENCING AT NINE O'CLOCK

DECEMBER 12th, 13th, 15th, 17th, 19th and 20th

THE YEOMEN OF THE GUARD

BOOKING NOW OPEN AT ANDERSON'S PRICES $3.00; $2.00 and $1.00.

FOREIGN TRADE OF CHINA.

NO SIGNS OF LUPROVEMENT.

17

la his Report, datai Juns of this, your', on the Economic Conditions in China. some extracts from which we have already. published. Mr. H. J. Brett, Acting Com- mercial Counsellor, Shanghai, is obliged to declard - that the conditions in most parts of the country have gone from bad to worse. The dificulties with which trade has hindi to contend have steadily increased. The Province of Szechurn, que of the richest anil nest fertile we fions of the country, with a population of more than 70,000.000, has been parti- cularly unfortunate in this respect...elvil war, brigandage, and disorder having entirely dislocated communications and interrupted the normal channels of trade. In Canton and South Chien generally conditions have likewise been deplorable. Following a change of Government -in the spring of 1993 the whole Province east of Shekling, at the mouth of East River, was 'eut off eqrupletely from Can- ton during the remainder of the year, and threats of invasion, complete con- trol by the military authorities of in- ternal taxation, and unchecked piracy and brigandage have kept this part of China in a state of can s To replace the revenues asized by the military the Canton Government has been driven to desperate expedients in order to raise funtis, and the exactions imposed upon the import trade excessive competition is the unfortunate merchants of that eity have been such as to render business at least equally apparent in the case of ahuost impossible. In Central and some of the staple lines, more especially Northern China the position has been piece goods, and, in the general anxiety somewhat better, in so far as there has acerpted from dealers of very question- to do business. orders are too frequently no actual outbreak of civil war, but the able standing, with disastrous conse- jealousy and mutual distrust existing be-

Obtainable at LANE CRAWFORD LTD Taburer Filipina, Graco Beyten Tobacco Store, and all nigh cl's Fecaggonites, At 95 cents per tin of 50

tween the rival military leaders, the conquences, not only to the frm directly con- stant strengthening of the forces underwrned, but also to the market generally. their control. and the widespread feeling more settled conditions in China, the re If there were any reasonable prospect of that a clash of interests might at any mo ment provoke a conflict for supremacy trade would undoubtedly afford ample sultant development of industry and have tended to destroy public confidence,

scope for all the foreign arms established and to confine all industrial and com mercial enterprise outside a few favoured in this country, but for the time being! localities within very narrow "limits.

-no solution suggests itself ather than the

gradual elimination of the weaker bouses | DECLINE IN MORAL STANDARDS, and the survival of the fittest.

For the foreign merchant in China the IMPORTS OF PIECE GOODS. most ominoua result of the present

Mr. Bratt is indebted to local British chaotic administration and the absence firms for notes on the business dons in of any central authority is the growing some of China's principal imports and disregard shown by provincini and exports during the period under review. tary officials all over the country for the The total value of the cotton pica-goods treaty rights under which the whole sys imported into China last year ampuated terd of foreign trade with China has been 173 million Hk. Tis., as compared with built up. Evidence of this tendency, ass million H. Tis. in the previous year. shown by the oper. imposition of illegal and 208 million Hk in 1921. While these taxation on merchandise, interference Ggures show a considerable falling with foreign traders, and the evasion of in the volume of imports, the local market responsibility for their protection is has, on the whole, been in a healthier con- qufortunately only too abundant. The dition than for some years past, and, decay of the administrative "system is also responsile, in part at least, for the very moderate figure before the end of marked falling off observable during 1999, deliveries of new purchases were cent years from the high standard of taken up as a rule without undas delay. commercial honesty for which the Chinese Apart from the unfavourable conditions merchant formerly enjoyed a well-merited affecting trade generally, the piece-goods reputation. It is hardly an exaggers market suffered no serious disturbance tion to say that no effective means of during the past twelve months, and securing redress against a Chinese de although little proft was earned by the faulter are now available to the foreign foreign importer, he was at least succes merchant, and forward business tends in

ful in most cases in avoiding a ̈ices. it consquence to become more and more

must be recognised. however, that in this buzardous A conspicuous example of this regrettable tendency occurred last ade, probably more than in any other. year at Tientsin, when a sudden rise in excessive competition for the restrict

business offering tends to make the posi the market value of raw cotton led to the tion of the importing arms more and wholesale repudiation of the contracts

more difficult. Owing to the increasing previously entered into by icenl brokers number of importers, profits have been with foreign firms, and the latter found reduced to such a paint that the margin themselves fnest with very heavy losses.

can hardly be regarded sa' offering saf Similar cases, on a smaller scale, pre ficient compensation for the risks incur constantly occurring at other trading red, and this remark applies with special Centres, and amongst a certain class of force to three firms which, lacking coa Chinese merchant the view appears to be nections amongst the more substantial steadily growing that a contract is only Chinese dealers are,

i

driven to Recept sacred when it happens to be profitable orders from smaller and less reputabler to himself.

FINANCIAL DISORDER

in

as stocks in China had been reduced to

CONNETS,

market in 1990. when in very large sum- ber of native dealers repudiated their obligations, the Britisa Chamber of Com- merce at Shanghai has long been engaged in efforts to standardim, the terms, on which the piece goods business is con ducted at this port After lengthy dis- cussions with the Manchester and Brad ford Chunkers of Commerce and with the Chinese Picce Goods Guild at Shanghai, two standard forms of contract have been prepared," one covering transactions be- tweey the exporter in the United King dom and the merchant in China and the other for use between the latter and the Chinese buyer. It is hoped that exten- sive use will be made of these standard contracts, but their success will depend largely upon the extent of the support that may be accorded to them by the principal banks in this country.

With a view to placing the piece-goods trade, in China on a sounder basis, and The general financial situation

avoiding, if possible, repetition of the China has continued to deteriorate dur-disastrous situation which arose in this ing the past year, and the outlook at pre sent is, if anything, more hopeless than it was twelve months ago. The scheme to pase the way for the reform of China'a currency by the establishment of ace tral mint at Shanghai has made no pro gress during the past year, owing to lack of funds to complete the installation and to take delivery of the machinery, At the Chinese Bankers' Conference heldre cently in Peking the question was again discussed, and it is stated that the banks finally agreed to advance a further sum of a milion dols. in order to complete the project on receiving the Government's consent to the control of the mint being left in their hands. It is very qucation- able, however, whether under present con ditions in China the establishment of this mint will have any appreciable effect in unifying China's currency unless some means can be found to control also the output of the other provincial mints, and unless the new institution is to be direct ed on such lines as to gain the confidence of the foreign banks.

THE TRADE DEPRESSION. - Many factors have contributed to the trade depression in China which has per- sisted during the past three years, and which still remains as acute as ever. Dis order in the interior, disorganisation of. the usual channels of trade, illegal taxa- tion of goods in transit, and the general Lack of security have all dene their share in cutting off important markets from normal commercial intercourse and in hampering all trade development outside these areas in which comparative security, exists. Apart, however, from these, dif- ficulties, arising from the unfortunate political situation existing in "Chino, there are other factors which help to ex- plain the fact that, while the total volume of inports and exports shows small sign of falling off, and even tends to expand, the merchant houses in this country are Gading it more and them difficult to carry on 'business at a profit, or øven to cover expenses. First and foremost, in the opinion of many observers, must be placed the excessive competition, which has sprung up during the past few years for the limited trade offering either in imports or exports, and this remarke ap plies not only to the Foreign merchant firm, but also to the Chinese dealer. In

HONGKONG SHARE MARKET.

CLOSING QUOTATIONS.

DECEMBER 15, 1924. Hongkong and Shanghai

Bankcy

$1,170 b. Cautou Insurances

$750 b. Union Insurances .............. $250 nom. Hongkong Fire Insurance .. 1685 b. Dougins Steamship $598.

HE, C. & M. Steamboats...3364 nom. "Star" Ferris........ $1183 b.. 517 3. China Br Chins Sugars....*** Langkats (Combined)

Kowloon Wharves

118. 181. ...$209 Dom.

$151; nom, Tis. 101 b. Tix, 193 b. Tim. 6.95 b

Docke

Wharves..... New Engineerings......

Lands... Hongkong

Hotel (old) $187x, (new) $184 *.

Rongdong batatos.

Ewo Cotton Milla... Shanghai Cottons Orientais

310724.

A

Tis, 11.60 b. ......(old) Tix 27) b.

THIS. 4 DOM Cements

$24. Hongkong Bopes (combined) 860 TUON." China Providenta

333 b Dairy Farms

$243 b. Waterbosta..................... $18 b.

(old) $22 nom. (now) $12 xx. Hongkong Electrics China Lagista...(combined) $241 b. Hongkong Tramsky k Pea Tamways. (old) (28 a., (new) $1ITS.

*Shall" Transports84/6.b.

I-buyers; s-sellers; sa—sales.

The Expression of Pleasure

"The face is the mirror of the mind," I read

somewhere, sir, and it is quite true.

When you get a Kensitas for the first time you look at it suspiciously, as it were, sir. Then you light up-after the first whiff your face changes to what I might call, sir, the "Kensitas expression..

Then I can see from your face that you are that Kensitas pleased and satisfied

44

are 'as good as good cigarettes

can be."

Jenkyn

Manufacturera: J. WIX & SONS · Lid=176-4 PICCADILLY-LONDON -W. (>ENÒ.. Wholesala inly ÷ DONNELLY & WITTEE, Duebatões for Hongkong and South China, 1 QUEEN'S BUILDINGS Telephone: Central 635.

Kensitas

the preferred cigarette

THE 41st ANNUAL

"AL FRESCO FETE"

OF TAL

SOCIETY OF ST. VINCENT DE PAUL

WILL AZ KELD

In the Compound of the CATHOLIC CATHEDRAL

41 DX

SUNDAY, 7th DECEMBER,

FROM 8.30 TO 11.30 PM.

UNDER THE DISTINGUISHED PATRONAGE OF

HIS EXCELLENCY THE GOVERNOR.

ADMISSION ...

$1.

1924,

Soldiers and Sailors in Uniform Admitted Half Price. Each Ticket of Admission entitles the Folder to a Souvenir.

In the Afternoon from 2.30 p.m. "to 6.30 p.m. Several Stalls will be Open and AMUSEMENTS specially for Children will be provided. TEA and REFRESHMENTS will be obtainable. Admis- sion Free.

The Grounds will be Brilliantly Illuminated in the Evening.. The Band of the East Surreys will play both in the Afternoon and in the Evening.

20

SOME FEATURES OF THE FETË: 10Y BAZAAR, TEA BOOM, REFRESEMENT ROOM, LUCKY WHEEL, SUPRISE CAKE, SHOOTING GALLERY, PICTURE GALLERY, CHRISTMAS TREF, ETC., ETC.

8,000 TOYS Specially Imported from Europe.

SEVERAL RAFFLES WITH VALUABLE PRIZES Including A NEW 1925 BUICK LIGHT SIX 6-SEATER Touring Car WITH BALLOON TYRES.A No Work of Charity is Foreign to the Society. COME AND HELP HONGKONG'S POOR.

CAMMELL LAIRD & Co., LTD.

TRADE MARK,

CHAMBERLAIN PAIN-BALM

BUKUMATISM

TARNE BACK, LURISADO

HOOD.

COOPER, MILOSTERS,

BRKS A SCALDE

SORA THROAT.

EXAMCHE

·EMALL DIZE

Sheffield, Birkenhead, Leeds, etc.

HIGH SPEED STEELS BEST CAST TOOL STEEL MINING STEELS SHEAR STEELS. → FILES AND RASPS

STOCKI KEPT AT

PEKING BOAD, SHANGHAZ

Ohamberlain's Pain Balm

Rheumaxres

Lame Back,

Pains in the Side and Obest,

Burns, Scalds,

Sore Musoles, Headache, Toothache, Cuts and Bruises.

Sold Everywhere