1925-12-28 — Page 2

THE HONGKONG DAILY PRESS, MONDAY, DECEMBER 28cm, 1925

XMAS

AND NEW YEAR HAMPERS.

We beg to Notify Customers that Assorted Hampers suitable for the Festive Season may be obtained from us at the following Reduced Bates:-

No. 1 HAMPER-$36.

1 Qt. Moet & Chandon Dry Imperial

1 Qt. Superb Tawny Port.

Champagne.

2 Qta St. Julien Claret.

Whisky.

1 Qt. Old Brown Sherry E.S,

1 Qt. D.CL. Old Tom or Dry Gin- 1 Qt. Burgoyne's Burgundy, 1 phial Pomoranzan Bittora.

1 Pt. Blackberry Brandy,

1 Ft. D.O.M.

IQ. Martell's XXX Brandy.

2 Qts. King Geo. IV. or Perfection

No. 2 HAMPER—$30. ·

1 Qt Guillemart Champagne.

1 Qt. Burgoyne's Burgundy.

ነ.

1 Qt. Martell's XXX Erandy.

I PL. D.O.M.

1 QL Burgoyne's Burgundy.

2 Qts. King Geo. IV, or Perfection

Whisky.

2 Qt Taway Dry Port.

2 Qts. St. Julien Claret

1 Qt. D.O.L. Old Tom or Dry Gin.

1 Qt. Vino de Pasto Shorry.

1 phial Pomeranzan Bitters.

No. 3 HAMPER-$26.

1 Pt. G. F. Peppermint.

1 Pt. D.O.M.

2 Qts. Sup. RO. Furt

2Qts. King Geo, 1V, or Perfection

Whisky.

1 Qt. Engrand's XXX Brandy, 1 Qt. Amontillado Sherry W.S.

1 Qt. D,CI. Old Tem of Dry Gin:` 2. Qts. Medoc Claret,

1 phial Pomeranzun Bitters,

GANDĖ, PRICE & CO.,

TEL. CENTRAL No. 135,

LTD.

HONGKONG.

WE LIFT THE SHADOW

"FROM YOUR WOOLLEN OR SILK SHAWLS..

EVEN YOUR FURS RE-

QUIRE DRY-CLEANING

OCCASIONALLY, GIVE US A TRIAL YOU WILL BE SURPRISED TO SEE HOW" BRIGHT AND FRESH THE FUR LOOKS AFTER OUR TREATMENT.

THE STEAM LAUNDRY CO.

THE LARGEST CLEANING AND DYEING WORKS IN THE FAR EAST. HEAD OFFICE & WORKS: YAUMATI, Tel. K. 52. HONGKONG DEPOT 16, Stanley Street, Tel. C. "1279. KOWLOON HOTEL DEPOT.

PEAK HOTEL DEPOT.

KOWLOON DEPOT: 9, Canton Road, HONGKONG HOTEL: (Visitors only).

Write or Phone for complete Price List

PERFUMERY

Manufactured by RIGAUD, PARIS:

HAIRE

"KUBALZAMADO "

*MART GARDEN **

*" KORA GAPINOSAL ***

** DULCE MIA **

**LIBAS RIGAUD *

Obtainable, Erozm

VICENTE ATIENZA & Co., No. 54, NATHAN ED,, Kowloor, TIL El's

The tonic food for all the family is

RADE

KEPLER'

-MARK

Cod Liver Oil with Malt Extract

To busy adults it gives health, increased strength and vitality. To children it supplies the body-building elements necessary to bring them to healthy maturity.

in botues of two, pirc

{Trade Mark)

KEPLER

MALT EXTRACT

COO LIVER DIL

Reduced facsimi

***HAZELINE' SNOW"

Preserves and brightens the complexion.

In glass puts

Äg «il' Clammints and Stores BURROUGH'S WELLCOME &

LONDON AND SHANGHAI

All Rights Reserved

IGAUT

THE TRADE SITUATION IN CHINA.

COMPREHENSIVE SURVEY BY BRITISH COMMERCIAL SECRETARY.

SOME REMARKABLE FACTS AND FIGURES.

"We publish to-day a report on China as in June last, by Mr. H. J. Brett, British. Commercial Secretary in Shanghai, which appears in the Board of Trade Journal for November 20th. The report deals with the present dificulties of trade with China. It is not easy, he states, to avoid a tone of extreme pessimism. Yes in spite of civil wars, strikes. and bankrupt Chinese finances the Custom Squres show an expansion in external trade in face of every obstacle and discuragement.

Of these

-It is true that this

Mr. H. J. Brett says conditions exist-benefit. The cumulative effect of these ing at Shanghai and at most of the other impositions, which naturally apply to pro Pammercial centres of China at the time duce on the way down to the port of when he was writing (June last)-with a shipment as well as to imports, is to add general strike paralysing foreign trade su materially to the laid-down cost of and some of the most important indus the former as to prejudice the chaner of tries, a boycott of British and Japanese fading a market in foreign countries, goods already partially in force, and and is the ease of imported goods to raise demands put forward for the cancella-the price to the ultimate consumer to Lice of all those Treaty privileges on such an extent as to 'decrease consider which the commerce of the country had ably the volume of sales.

STRENGTH OF FOREIGN TRADE heen built up-reader it difficult to aroid

Under these depressing circumstances an extremely pessimistic tone in referi

regard the it is hardly possible to ring to the present economic situation in economic situation and the prospects for China and to the prospects for trade in foreign trade in China in the immediate the near future. Apart from the crisis future with anything approaching optini- through which British residents are now ism, but there are a few considerations passing. and which will doubtless adjust which it is desirable to keep in mind itself in time, a retrospect of the past before declaring the position to be hope- twelve months does not encourage one less. There is, in the first place, the to take a more cheerful view of the post-evidence of the Customs figures to show tion Without attempting to deal with that at least up to the end of 1991 the the tangled political history of the year, traile of the country had continued to a subject beyond the scope of the pre-grow in the face of every obstacle and sent survey, it may be useful, Mr-Brett discouragement. thinks, to mention a few of the outstand-trade is at present being conducted on ing events having a direct effet on the of the foreign firms ergaged in it have very unsatisfactory terms, and that most economic life of the nation. the most conspicuous was the outhreak sustained heavy losses, but, the fact re mains that, while in certain lines there of civil war last autumn in Central and

is a marked falling of, the total volume Northern Ching which dislocated means of imports and exports still tends to in of communication, undermined all con- crease. The development of new indus- fidence and credit in native banking and tries, although checked by the lack of business circles, and reduced the inhabit

security and confidence, is likewise pro ants of large sections of the country to ceeding slowly but surely, and the whole such destitution that even when it has economic life of the country is gradually been possible to overcome transport changing. While, therefore it is to be difficulties the market for any commodi- feared that for some time to come busi ties ther than the absolute necessities ness, conditions in the country are likely of existence has. been greatly reduced. to grow.worse rather than better. there Since early in the present year there has seems to be no reason to doubt that what. been no renewal of hostilities on any ever political development may take extensive scale. but the" contending fac place and whatever new trading methods t:ons remain, in state of unstable may become necessary in the future, equilibrium, and the fear that 6ghting China must still remain one of the may break out again at any moment dis greatest potential markets of the world! courages the native merchant from risking his capital in industry or trade in any

There is little to he said about China's of the areas likely to be affected, preses nancial position except that it South China there has been scouting has grown steadily worse during the past uccession of all wars between al twelve months and that the Government military leaders, resulting in a political is practically bankrupt. The charges on situation, so confused as to defy analysis. the unsecured debts continee to mount and the absence of any effective adminis-up, and in December the long-threatened tration has naturally led to almost un default on the Hukung Loan became a restricted piracy and brigandage. Con-reality, this being the first oerasion on ditions in the south have, in fact, been which China has publicly defaulted op even less favourable to trade than in the one of her pre-Revolution foreign loans. Yangtze Valley; and, apart, from war Foods live since been raised to meet fare and handitry Canton's trade has this default, but the incident has done suffered severely from labour troubles, further damage to China's tottering cre mainly political in origin. During the dit. In view far-reaching political past year there, were two general strikes chadges that took place during the your of al merchants, two effective strikes of it might have been expected that the the junk men,, an anti-foreign strike on

financial" olatacles with which successive". the island of Shameen which tasted five Governments were confronted would have weeks, and, finally, the dispute between proved insurmountable, but, as often the oen Government and the defence happens in China, the reverse has been corps organised by the merchants, which the ease, and the various settling day culminated in the destruction of much in Peking were negotiated with less ap valuable property in the city and the tem- parent trouble than usual. This may per porary interruption of all business Ahaps partly be secounted for by the fact the moment of writing fighting had nema that crises which are continnally recur broken out in Canter. In Western China ring and never unexpected lose, half their the great Province of Szechuen hast on force, and the pressure is apt to relax the whole, been more free from serious when the wurst is known and it is realised disturband than for some years past, that there are no assets available for and trad the Upper Yangtze bas, distribution. These periodical "settlo- been fai active, but the situation re- ments, however, have naturally only been mains thle and is rendered still less negotiated by means of complicated anan promi by poor crops and the certainty cial manipulation and by adding still of famine throughout large sections of the further to the volume of the Govern province. ^-

ment's indebtedness to.the native banks.

THE BURDEX OF TAXATION.

CHINA'S FINANCES.

Of the regular sources, of income on which the Government has been "dble to In addition to, and partly as a result count in the pust, the Customs returns of the chaotic administrative conditions, show an increase of 0,000,000 Haikwan insecurity and disorder, trade has had taels over the previous record made in to contend with an ever-increasing burden 1920, a truly remarkable result in a of taxation. Owing to the absence of country ravaged by civil war and with its any central acthority each province is leading railways paralysed for several practically at liberty to adopt its own months. It must be remembered, how ineasures for raising revenue, and the position of taxes on commodities of eventer, that this revenue is not touched by description usually appeals to the best airplus. after providing for all the foreign official as being the supplest method. loans and indemnity obligations secured With regard to foreign imports, taxation on these funds, being devoted to the ser is nominally limited, under the treaties rice of the domestic loans. The salt re- Between China and the Foreign Powers, venue suffers considerably in comparison to & per cest. Customs duty and a further with the Customs, the receipts for 104 2 per cent. if the goods are sent into showing a decrease of over 8,000,000 dol- the interior, and although complaints of compared with the preceding twelve additional levies on cargo, either in tran-

the Central Government, the whole of the

sit or on arrival at its destination, have this and being less than in any pre- always been rife, these impositions were amounted to 10,500,000 dollars, and after rious year since 1910. The net rovenue. formerly not sufficiently onerous to inter; meeting all loan obligations surplus funds fere very seriously with the general to the extent of 64,000,000 dollars (which course of trade. Of late years, however, included 12,000,000 dollars received from the respect for treaty obligations has been the Customs as refund of reorganisa rapidly diminishing in China, and during tion loan payments during the year) were. the past twelve months the inclination released to the Government. It would,

+

tion" or other taxes on foreign" goods

GREEN ISLAND CEMENT CO., LTD.,

Best Portland Cement.

SHEWAN, TOMES & CO.,

GENERAL MANAGIRS, HONGKONG.

65

CHINA PROVIDENT LOAN & MORTGAGE COMPANY, LTD.

Advances made on Landed Property, Goods, etc

Trustees of Estates, Executors of Wills, etc.

Warehousing of Goods of all Description.

For Terms and Particulars

Apply at the Head Office

"St. George's" Building.

Telephone: C. 781.

Telegraphic Address:"RELYAT.",

THE HONGKONG TUG & LIGHTER Co., Ltd.

Single packages and small consignments received

and delivered by Motor Lighter.

Motor Boat and Launches available for Conveying Passengers and Baggage to and from Steam- ers in Harbour.

Stevedorage and Lighterage Work undertaken. Tugs and Lighters available at all hours.

For terms and particulars-apply at

TALPA INKS Į

HEAD OFFICE-ST. GEORGE'S BUILDING.

Fend Office-Central 781.

Chinese Branch Office-Central 4885.

Night, Sunday or Holiday Bing up Kowloon 822,

(310

HONGKONG & TERRITORIAL ESTATES, LTD.

(Property Owners, Estate Agents,

Land Valuers, etc.).

WILL UNDERTAKE THE

Development and Improvement of Landed Property and attend to all Real Estate Business.

TELEPNOSE

C. 781.

Branches of

For terms and particulars

Apply at the Head-Office,

“St. George's" Building.

Telegraphic Address: “ESTATES.".

FRENCH NATURAL MINERAL WATER

VICHY CELESTINS

In bottles, half, and splits w

for Gout, Diabetes, Rheumatism, Gravel, Arthritis

VICHY-ETAT PREPARATIONS

In this and bottles. or 3 after meda

make digestion sssy.

to make your own

VICHY-ETAT SALT Natural all from the waters VICHY-ETAT TABLETS VICHY-ETAT COMPOUNDS digestive aerated water.

Rofusa substitutes,

of local authorities to levy copamp perhaps, he more accurate to say that such as the wine and tobacco and the accumulation of money in Shanghai an has become much more pronounced. this amount was considered as being re- stamp duties, are estimated to remit only Hengkong, hrought down by wealthy Beginning with a tax of to-per, cents on lensed, since some 33,000,000 dollars of 10 per cent. of their revenues. The prob- Chinese, for purposes of security. bar cigarettes the movement has extended to the total represents fumus either retained lem of putting China's finances on a while this has led to a considerable in- kerosene oil and various other comigodi locally or appropriated by provincial sound basis is one of grave difficulty, crease in local land values and to sub

In enhanced by the absence of any Govern- stantial investments in municipal and ties, and owing to the lack of any central aathorities or military commanders. Government capable of exercising prez this connection it is interesting to eat with a semblance of authority over other stocks, the native hanks have been some of the the whole country, but it is expected that chary of advancing funds for trading par Hure on provincial authorities protests analyse the results of against such opositions produce but more important Government Depart this will be one of the questions to be poses, and the foreign banka have also little effect. Apart from the tagation tents. The Customs, which is entirely discussed by the special conference held adopted a cautious policy in this respect. above referred to, which has, at least a under foreign control. collected approx-in accordance with the terms of the Although, therefore, the past year has semblance of legality as being imposci mately 100,000,000 dollars, all of which Washington Treaty, the terms been a very unprofitable, period for, most by the officials administering the Govern was placed to the credit of the Govern-

As regards trade, the financial situa foreign and Chinese firms in the country,

a. check on the

ment of the particular province concernment. The Salt Administration, which is tion in China during the period under it has at least been free from any very ed, gooda conveyed along the internal only partially foreign controlled, remitted review has been marked by restriction serious financial crises, the restriction of land and water routes have also to run approximately 50 per cent. of its collec-of credit in Chinese banking circles, the credit operating as the gauntlet of tax-stations controlled by tion to the Central Government, while unsettled, conditions in the interior add gambling instincts local military officials, who levy further purely native controlled administrations, ing greatly to the difficulty of financing merchant.

protection taxes solely for their own

(Continued on next column.)

native business. There has been a great

of

the Chinese.

(To be continued,)