1928-10-26 — Page 2

Page

JOHN HATO & CO.

ing ag

MARKINCH HOLD LABEL

UQURUR SCOTCH HORÚ

The Whisky of Quality

from the oldest distillers in the world

Haig

426

THE FATHER OF ALL SCOTCH WHISKIES

SOLE AGENTS:

GANDE, PRICE & CO., LTD.,

HONG KONG,

THEATRE ROYAL SATURDAY, Oct. 27.

At 9.15 p.m.

MOISEIWITSCH

The Most Popular Pianist of the Day.

FINAL RECITAL Prices: $4, $3 and $2.

Booking at MOUTRIE'S.

Direction: A. STROK

£6831

PAN YAN

PICKLE & SAUCE

are quite different from anything you ever tried before. There is a sub- tle distinction in flavour which is wonderfully appetising and a great digestive aid.

•

At all good Storekeepers.

MACONOCHIE BROS., LTD.

LONDON,

ENGLAND.

Asahi Beer

Invigorating & refreshing.

Sole Agents:-

ASAHI

MITSUI BUSSAN KAISHA LTD.

HONG KONG.

THE HONG KONG "DAILY PRESS. FRIDAY, OCTOBER 26th, 1928.

Money and Markets

CHINA'S SILK INDUSTRY.

VIEWS OF HONG KONG EXPERT.

THE NECESSITY FOR STATE ENCOURAGEMENT.

Considerable dissatisfaction has been expressed recently in America and Europe in regard to the deteriorating quality of Chinese raw silk. Representations have been made to exporters in this country that unless an improvement is brought about at an early date, the raw silk business will be lost to China, just as the Chinese tes trade has been largely lost, in favour of Japan.

"

LOWER SILK FREIGHTS WANTED.

"AGITATION BY JAPAN

SHIPPERS,

It is expected that negotiations. will be opened shortly between the Yokohama Traders Association and the Canadian Pacife Railway and Steamships, Ltd., and the Chicago, Milwaukee and St. Paul line for the reduction of the through railway and steamship freight on raw silk from Yokohama, to-New York."

The prevailing freight is"813.30 a poutil, which rate has been un- changed since some time during the war, when silk was quoted at about

.4,000. It is now quoted at about one-third of this figure. The trans. Pacific steamer freight is $4.50 and. the overland railway freight 0.

The Export Silk Textile Associa

A foreign exporter, in the course tion of Yokohama is expected to negotiate for reduction through the

of conversation with a representa-trans-Pacific freight conference.

tive of the Daily Press. pesterday. declared that since the raw silk as produced by filatures in this coon: try is mostly for. foreign consump tion, producers should be given every assistance by the Government to turn out the required quality For the last few years the demand for Chinese raw silk has been. gradually falling off, owing to the fact that importers in the United States and Europe have been dis- satisfied with the quality turned

nut.

When the American Silk mission came out to China sometime ago, one of its spokesman, in the course of a speech made at a dinner, de- clared: For the last five years your silk men have not made any progress in the production of raw silk; therefore I must tell you candidly that in order to keep the American market, the quality of your silk must be improved." All of which indicates that there must be something radically wrong with the production of Chinese raw silk, and that the filatures should not lose any time in improving the quality of their output.

Increased Shipments To Canada

And Australia. Japanese raw silk has begun to be demanded in countries other than the United States, according to the

·Central Silk Association of Japan. The increase of the demand has been brought about naturally, not by any propaganda or other steps, the association says. "Silk shipment for France, Aus- tralia and Canada is, increasing. Shipments to France once totalled 34,000 tons but gradually fell off until they reached 17,000 bales last year, Silk forwarded to that coun- try for three months, June, July and August, this year totalled 8,000 bales, showing a gain of 3,000 bales over the same period last year. Exports for September are not ex pected to fall below 4,000 bales, according to the Association. This year's exports to " France estimated at more than 35,000 bales,

more than 1,600 bales. <

arc

The first consignment of 210 bales was sent to Australia in 1933. Since then the amount has been steadily Australia totalled 1,319 bales. More gaining Last year's exports to is promised this year, since exports for three months ending August totalled 424 bales against 203 bales or the same period last year. This In order to bring about an imara amount of export is estimated provement in the situation, it is urged that the Government should render assistance to the filatures. instead of squeezing them with complicated taxation machinery as has been the case during the past ive years. Secondly, there must be an improvement in the labour situa tion. In regard to the first point, much has been said but very little done. At present, nearly all silk men realize the importance of hay- ing better cocoons in order to pro- duce good silk. For the last ten years, committees and schools have worked incessantly along that line, but on account of lack co-opera- tion, and indifference on the part of the authorities, very little pro gress has been achieved. It is true that the Government has contribut- ed sums of money from time to

Exports to Canada last year! amounted to only 100 bales, while those till the end of August from the first of this year reached more than 1,000 bales.

These exports are small in com- parison with the amount for the United States, but show signs of a gradual increase,

...

P. & O. COMPANY.

FINAL DIVIDEND OF ↑ PER CENT

(THROUGH LETTER'S AGENCY,]

LONDON, Oct., 24th.

The P. and O. Company recom-

time for the improvement of sericul-mends a final dividend of ture, but these contributions have amounted to very little in face of the internal political difficulties and the warfare with the North.

cent, making a total for the year of 12 per cent.

FINDLATER'S

TREBLE DIAMOND

PORT.

A LOVELY SOFT WINE OF PERFECT RUBY COLOUR

WELL MATURED IN WOOD. VERY POPULAR AT MANY WELL KNOWN CLUBS.

The sign" of a.

1

pery Port"

excellent

Stocked by

DLATERS

PORT

"

THE WING ON Co., Ltd

THE SUN Co., Ltd.

THE SINCERE CỔ, Ltd.

NAM HING LOONG

SANG TYE

TYE SHING

CHUEN YUEN

KWAN TYE

HUNG CHEONG, Kowloon,

THE EMPRESS STORE, Karlson.

RAHIM'S STORE, Shameen,

ALSO AT THE PRINCIPAL HOTELS AND CLUES.

A GLASS OF FINDLATER'S PORT IS A PERFECT FINISH TO A GOOD DINNER.

Distributors-GILMAN & Co., Ltd.

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

OCTOBER 26TH, 1929.

$1,355 buy.

Do... Loadoa...2141 nom Chartered Banke £213 buy. Meroantile Banks, A. &B...£34 nom. 0...£14) nom.

Dom.

EXCHANGE RATES.

[BRITISH WIRELESS SERVICE).

RUGBY, Oct. 25th.

per

Paris Brussels Amsterdam Berlin

124.90

34.89

B.K. Bas..........

19.091

20.38

Do.,

Copenhagen Vienna Helsingfors Lisbon Bucharest Buenos Aires New York: Geneva Milan Stockholm Oslo

18.19.

P. & O. Banks -

34.490

. 199

107

5021

47.11/39

4.83

25.20

92.60

16.15

18.19

Prague

1632

Madrid

30.195

Athens

373

Rio

3,29/32

Holiday 1/11.3/18 2/31 2/01

26.11/18 28.13/16.

Baube

Tranch Mines

The taxation on cocoons and silk at the present time represents no less than one-twentieth of the total cost of production, or about 890 per picul of raw silk. Assuming the total production of raw silk in China- to be 50,000 balss, the annual revenue going to the Government from the source will amount. to. $1,500,000,

Bombay Yokohama Shangbai Hong Kong Sliver (spot) Silver (forward)

AMERICA'S FOREIGN

3771 bay

Liverish People Need Vichy Celestins

VICHY CÉLESTINS in a natural selderly which helps the tires

East Asia Banka ......................... Danton Inmrances Sodo buy. 675 Union Insurances ***** Tl. 160 bay.

$352 buy North China Ins. .......................... Yangtze Insurances......M. $50 nom. China Underwriters 11.32.55 bay,, 93 sel, China Fire insurances....1275 bay. Hong Kong Fire In.......3800 sel.

$98 nom. Dongis858*25h nam. EL.K. Steamboate

ELK. Tug....$1.69 sum. Indo-Chinas (Pref.)....$bus bray., 42 so). Do. (Def.)724 bay. Shell Transporta ....... 1187. Waterbosts..............$23 bay. Beng note

bay. Kailan Mining Admin. num. Langkats (combined)...... T. 11 nom.

Do. (magle) * 1 280 buy.

Ti Si nom. S'ha. Explorations ...

Tls. 3 buy.. Shanghai Loans

$ nom.

H.A. & K. Whas f#..........................$139; nom.

H.E. & W. Docks ....

China Providents

Mongkow ********* Now Engineerings Shanghai Docks, #wo Cottons torger

e now.

$37 com...

1515 nom

buy.

"to function normally. Its gently stimulating effect in welcomed in all cases of sluggisbaess. It clears the blood-stream from all impurities.

Vichy Cdestins is very pleasant to the taste, and may be taken at meals' either alone or mixed with light wines. or spirits.

The French Natural Mineral Water,

¿VICHY-CÈLESTINS

Obtainable at all Hotels, Cluba,

Chamists and Stores, or from the

Sole Adents

The French Store

To make matters worse, there has been little-if any attempt on the part of the authorities to control labour agitators. The manufacture of best quality silk depends, of course, upon good cocoons, plus expert workmanship under proper super vision. Since the labour unions came into existence, flature owners have been deprived of the power of engaging and dismissing workers. Hence, supervision, over the workers The rapid growth of the Japanese has become an impossibility. Strikes silk industry, as in the case of the have been called on the slightest Japanese tea industry, has been due pretexta, and the flatures have been to Governmental assistance. In the constantly in danger of operations case of the silk industry, the Gov being suspended through labour.dis-ernment has not only provided a putes. In consequence of all this, special bureau for the study of ailk men look towards the future various scricultural problems, but with considerable pessimiami, inas has advanced money to producers in much as the Government secms times of financial depression, main- powerless to curb the agitators who tained sericultural schools and ex- disturb the workers."

perimental stations for the better The most discouraging sign of meat of the industry, conducted a present day conditions is that silk testing-house and drafted regula men are more willing to quit their tions, thereby assisting the industry business than to continue operating to develop instead of hampering it their filatures. Considering the up- by acvero and unsound taxation. favourable conditions which exist, In China, efforts should be made no one can expect them to invest to introduce the cocoon and silk

Do (new). Tis. 27 bay. Further sums of money in the in industry to new districts where

H.K. & S. Hotels.$9 buy. 3.15 28. dustry. It is very plain that the climate and soil are equally adapt-

H.K. Lands

$67 0. Chinese silk industry is to-day is a able for the cultivation of the silk-

Shanghai Lands Fis. 138 bay. dangerous position, and that the worm. With the development of

Humphreys state.....$15.70 nom, Government can no longer" occupy transportation and communication

B.K. Reatles..

..39.15 nom can bo the passive role of onlooker. For facilitica, many districts

The Gov-

B.K. Tramways......$22 buy, 22.30 pet

Cements foamthized)......$9.80 nom. some years past, the Government turned into silk centres

Trams (oki) $13 buy.

Do. (old).....$8.80 nom. Do. (new).........$6,30 nem. might have excused itself by ernment should, in times of dif-

feak

"Do. (now) auðli bay. saying that its interest and activity culty, go to the assistance of the

Star Ferries...... 1671 bay.

Ühina

HK. Ropos (old) ............$7.60 nam, had been taken up in conducting latures.

Lights (ok)....... 18.60 1.

Bo. The United States persuaded the On the other hand, producers

$18.30 nom.

...$7.65 nom. (new) (new) military campaigns, but now that

Do.(1928 Lsue)...13.20 buy. United Asbestos .......................35 nom. peace has been established, and the should do their part in this work British government to abrogate the

Dairy Farm... $23.40 bay, & a reconstruction period has set in, of reformation. They should dis Anglo-Japanese Alliance, Mr. H.K. Electrics (old)...... 52 nom.

Watsons Do. (new) .....351 the authorities can no longer pre-card old methods and adopt modern Samuel said, declaring the abroga

Daf 4.

Wings**** sent such an excuse. As a matter and scientific ideas in management. tione fatal mistaken from the Macao Electrica... 553 buyhte

buy, cam rights Lane Crawfords of fuck,

Government and absolete British viewpoint. Then she Telephones............

Mackintosh buy, righte derives a huge revenue from the give way to new equipment for induced Britain to enter a new agree-

83,50 nom. ment regarding China, allowing Do, 'rights taxes and surtaxes imposed upon order to keep the foreign market,

common action by Britain, the China Bures....dla, !! buy. cocoons and silk, it should not be silk must be produced to comply

pay. so self-centred as to take every-with foreign requirements. Finally, United States and Japan, but Singapore Fractions....12/

the United States again played

Do. (Pret)... 183 buy, thing without contributing some-to operate the industry successfully, thing in return, so, that the "goose sufficient amount of capital must us false." Mr. Samuel concluded Chins Suga$i nom. which lays the golden eggs be available. It is most unsatisfac by asserting it has been amply Malabon Bugars$20 bay, proved that Britain cannot trust Carton Iced $3) nom. tory to all concerned to operate on not be killed.

(Continued at foot of next column.) the United States. a hand-to-mouth system of finance.

since the

14

(Continued on next Volumn).

may

POLICY.

ACCUSED OF TRYING TO DOMINATE ENGLAND.

LONDON, Oct. 18th Mr. Sarouel, M.P.. managing director of the Shell Transport Company, vigorously attacked the United States in a speech to-day, asserting. America in trying to dominate, Britain."

Oriental Catton Shai. Cottons (old)

Do.

Tls. 166 bay.. 11.11.10 buy. ****T1. 534 bay. Tis. 21 sel

BOM,

Beaconsfield Arcade.

$141 buy.

*$0.50

под

$3,05 buy. $20 nom. ...391 bay.

$3.60 bay,

Wis. Powellsummer H.K. Amusements ....$29 sel,

K Constructions bli buy.. B'que. Indas. G.Bonds...65% buy. E.K. Gort. Los mus. 8% prom, bay. bay.-boyers; sel-sellers ; sa.—kales;

nom.-nominal,