1928-11-09 — Page 2

Page

From the Bensand the Glens

This lustration d depicts the attractive "Highland Rectar Decanter.

Welcomed and esteemed because of its exquisite delicacy of flavour and true Highland characteristics, no other whisky makes such a definite appeal to the palate "Highland Nectar"

S

The quality is guaranteed and always rigorously maintained.

THE DISTILLERS AGENCY, LTD,

DISTILLERS, EDINBURGH..

"Highland Nectar

Rare Old Scots Whisky

SOLE AGENTS :'

GANDE, PRICE & CO., LTD., HONG KONG.

1831

REPULSE BAY HOTEL

SPECIAL TIFFIN

THE HONG KONG DAILY PRESS, FRIDAY, NOVEMBER 9th,

Money and Markets

JAPAN'S COTTON

TRADE.

MAKING FINER GOODS.

Mr. W, B. Cunningham. fate British Consul at Osaka, Japan, who is taking up the Consulship at Dairen (near Port Arthur), recently addressed a meeting of the China Section of the Manchester Chamber

HONG KONG BUSINESS.

DEALINGS IN FOOD STUFFS.

Business done ia Hong Kong on November 9th in rice, sugar, and other food stuffs included the follow. ing. transactions:

Green Flying Eagle white glutin- ous rice 250 bags at 86.07.

Fuk Taz white Siam rice 680 bays at $7.18.

Black Double Star white long rice

of Commerce to which representa-524 bags, at 26.72.

Green Seal white glainous rice tives of the Joint Committee of 150 bags at 87.45. Cotton Trade Organisations bad been invited.

There were, in particular, a very lurge number of spinners and manu- facturers present, and among those who spoke on Mr. Cunningham's address were Mr. W. E Thompson (president of the Chamber), Mr. Fred Kalroyd (president of the Federation Master Cotton Spinners Associations), Mr. John Grey (Burnley), Mr. Harold Cliff (secre tary of the Oldhara Master Spinners' Association), and Mr. George Green (Padiham), who has recently return. ed from a visit to Japan.

in-

Blue Seal No. 3 white rice 125 bags at 86. 75.

Green Seal broken white rice 141 bags at 96.66.

No. 18 conric powdered candy 300 bags at 37.00.

No. 18 course powdered candy 200 bags at $7.03.

No. 24 course powdered candy 200 bags at $7.58.

No, 24 coarse powdered candy too bags at 37.35.

$7.

Dried ginger 43, bags at 825. No. 1 crade rice Hour 190 bags at

Green heap 100 bundles at $27.50.

BRITISH OVERSEAS TRADE.

EXPORTS AND. IMPORTS DOWN.

Britain's external trade suffered

Figures published by the Board of Trade Journal shows that:-

Imports amounted to £87,882,000, compared with £07,701,000 in August and £101,413,000 in Sep- tember of last year.

Exports amounted to £68,690,000, compared with £62,217,000. Fa August and £60,622,000 in Septem- ber of last year!

Mr. Cunningham briefly traced the growth of the cotton TEL. C. 135.dustry in Japan in recent years. The capitalisation had grown from 113 million yen in 1913 to 234a setback in September, million yen in 1990, an increase of 270 per cent. About three-quarters of the capital was paid up. During the same period the number of spindles had increased by 53 per rent and the number of looms by over 100 per cent. The prosperity of the cotton industry reached a" peak in 1920, largely owing to the fact that during the war such markets a South America, India, Dutch East Indies, and Africn could no longer obtain supplies from Great Britain. After 1920 Japan suffered from the post-war slump, especially in the markets mention. ed, but by the end of 1921 she had to a large extent recovered At the end-of 107 the capital invested in the cotton industry was 535 million yen, 391 million being paid up: spindles amounted to over six million, and there were more than 79,000 looms. The reserve funds of 84 companies amounted to 39 million yen or about 60 per cent. of the paid-up capital,

Sunday, 11th November, 1928. Orchestra ia attendance 1 p.m. to 2.30 p.m.

די

Tables may now be booked at the Hong Kong or Repulse Bay Hotels

Telephone: C, 2581 and C. 776.

#

THE HONG KONG & SHANGHAI HOTELS, LTD.

DAIRY FARM NEWS

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| FIRST "SHIPMENT OF THE SEASON

PHEASANT,

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WILD DUCK

TEAL DUCK

SNIPE

PIGEON

1.10

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Asahi Beer Invigorating & refreshing.

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MITSUI BUSSAN KAISHA LTD.

HONG KONG

Re-exports came to £6,856,000, compared with £3,750,000 in August and £8,054,000. in Septem- ber, 1997,

The Board of Trade Journal points out that in only one previous month (Mar) of the present year has the vue of exports been at a lower level than in the correspond. ing month of last year. The aggre gate value of exports during the expired nine months of 1928 exceed ed the exports for the first nine months 1927 by £16,453,000, or slightly, more than 3 per cent.

The decrease in imports was chiefly In regard to the organisation of due to smaller trade in food, drink, the industry, Mr. Cunningham men-

and tobacco. The decline in the tioned the Japan Cotton Spinners' value of imported manufactured Association. This association, which articles was relatively small. Sep the was formed about forty years ago,tember import figures were was one of the most important of lowest recorded (with the exception its kind in Japan, controlling about of the strike month of May, 1920) 90 per cent. of the spindles and 40 since April, 1994. per cent of the power idoms. Of the total number of members there were four of outstanding import ance, 10 rather smaller but still powerful frais, and about 40 firma which, though relatively unimport | ant individually, in the aggregate to the contributed considerably prosperity of the industry. Further, most of the importers of raw cotton and exporters of piece goods were associate members of the Associa tion.

The fall in imports compared with the first nine months of last year is less than 9 per cent.

Exports of bullion and specie ex- ceeded imports by £1,734,000 in September.

BANKS » BUSINESS.

EFFECTS OF RESTRICTED CREDIT.

1928.

FINDLATER'S

TREBLE DIAMOND

PORT.

A LOVELY SOFT WINE OF PERFECT RUBY COLOUR,

WELL MATURED IN WOOD.

"The sign of a

very excellent Port!"

VERY POPULAR AT

MANY WELL KNOWN CLUBS.

Stocked by:

PORT

RS

THE WING ON Co., Ltd.

THE SUN Co., Ltd.

THE SINCERE Co., Ltd.

NAM HING LOONG SANG TYE

TYE SHING CHUEN YUEN

KWAN TYE

HUNG CHEONG, Kowloon.

THE EMPRESS STORE, Kowloon.

RAHIM'S STORE, shames.

ALSO AT THE PRINCIPAL HOTELS AND CLUBS.

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

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

FRI

result that many trades have been Shell Transporte... buy.

Distributors-GILMAN & Co., Ltd.

NOTEMBR Bru, 1929. A.K. B1, 455 Bel

Do..

London...B141 nom. Chartered Banka £22 buy. Mercantils Baars, A. $5...£34 nom. 0...814 nom. Do P.&O. Bank 23 Dom East Asia Bank..........$774 bay, Canton Isorasces $575 nom. Union Insurances....1563 sel. North China Las... 160 buy.

Insurances... $50 nom Yangtere

Underwriters L China Fire Insurance...$275 buy. Hong Kong Fire in......800 sel. Dongle). Bom, HK Stambosta ...

... Höf not. ......$1.60 nom, HE H.E. Tug....... Indo-Chinss (Frat.) buy.

Do. (Del.) ......$724 buy.

118)- nom. Waterbosis...

9.30 buy. Benguets Kailan Mining Admin...1/ buy

11 com. Langkat (combined)....lls.

Do. (angle)...Tls. bi nom. Bhat, Exploratione.Th. 2.83 bay. Shanghai Loans..... Tla. 3 bay. Baby!

$5.10 buy. Troxioh Mines

17/6 notá HAK. && Wharis., $198, nom. H.K. & W. Docks..........$37 xom, China Providente......£6.30 nom." Hongh

Tix. 166 no. New Engiaconug. The bus boy. Shanghai Docks

TL 11,80 bay. BwoCottons seesia Oricata Cottons......... Tls. 2.45 not.

58 Bh. Cotton (ola). Tu. 59 bay..

Do. (40).Th. 82 buy. HK, & Hotel... $9.05 sel., 8.90 E.K. Land

$67. Tis. 138 bay, Bhanghai Leade Humphreys Ketates. $151 nom. ..$8.85 nom K. Kostice HK-Tramways

..$21.70 nom. Peak Trams (old).

thay.

36.30 Fa

Strength In Combination.

A serious charge is brought Mr. Cunningham laid stress on against the banks in England by the way in which the various in the British Electrical and Allied terests were combined and concen- Manufacturers' Association. It ar trated. This, he considered, was raigns them as the root cause of ane of the main reasons for the the depression that during the past strength of the industry as a whole, six months has spread over the since the large inporters of raw electrical and a host of other in cotton were also the principal ex-dustries. Since March, says the porters of piece goods and were association, there has been an in- more or less directly interested in

tenso restriction of credit, with the the actual production of the goods.

Another cause of the strength of held back The stagnation of the the industry was that labour con home market is thus definitely. ditions were simpler than in this attributed to the banks and their country. Mr. Cunningham's impress financial policy. The bigger they sion, however, was that there was

are, the less eagerly do they seem not a great deal of difference in

to come forward to help British total production costs after allow-industry in its hour of opportunity. nce had been made for the greater To the question. Are the backs | number of operatives required in playing the game? British manu- Japan, as well as the extra cost of facturers would reply with an housing, feeding, welfare, and re-almost unanimous No. Prospering cruiting from the country districts, banks and dwindling industries are The textile trade had an abundant not a combination that can, speil reservoir of labour to draw from. health to any nation-least of all to Operatives did not, as & rule, Great Britain. stay long, the average term of ser- vice of female operatives being rather less than eighteen months. This system had an advantage in that in times of depression the position could be easily adjusted by relaxing the recruiting of new hands,

A further cause of the rapid ex- pansion in the cotton trade. was the concentration on standard lines, which were comparatively, simple to make yet filled the demands of the markets which the Japanese were trying to capture.

of

A matter of importance was the increase in the manufacture textile machinery. Looms had been made for many years, but until re- cently the manufacture of spinning machinery, had not met with touch success, though more attention was now being paid to this industry, Progress had also been rapid in other allied industries; the develop ment of hydro-electric power had made rapid strides, as had also the manufacture of tools and machinery of all kinds.

(Continued on next Colusin,)

A Bid For World Trade. As regards future prospects, said M. Cunningham, it should be realised that Japan had made in- dustrialization a settled policy, and was determined to secure as large a share as possible of world trade, In regard to cotton there was a marked tendency to go on to fner goods, and during the last few years exports of yarn and declined owing to concentration on the manifac ture of piece goods.

31

АСТА

$13,40 nom Star Ferries... Chins fights (old)....

Do, (new) $13.30 now. D. (1828 Larue) $15,0

sel. H.K. Fiestries (old).......

(now) Junninghath referred to the Macno Riot 30 y

$7.30 buy, cum righte new factory legislation which would Telephones.

Don

#6.85 som. z rights come into forca in July, 1929. This

De righte

$3.30 nom ::- was causing the mills considerable

2. m. 11 buy. China Agas cen Whereas they were now concern.

....12/. num. working two shifts of ten bours Singapore Tractions.....

bay, 19/3501. they would have to confine their

China Sugars activity to two shifts of eight and a half het, and that only if they could Malabon Engars 22 obtain an extension of one hour, Canton 1c3 nom the possibility of which was provid Cements (combined)...... 89,80 nom, 1.

(old)....830 mm, ed for. In regard to wages he felt

Do. (new) 31.60 sel that there was more likely to be an

(Continued at foot of next column.) increase than a decrease.

ཏ Do.

COLGATE

TUNNOT

RIBBON DENTAL CREAM

DELICIOUS ANTISEPTIC

ECONOMICAL

COLGATE'S

DOLL DER

RIBBON DENTAL CREAM

OBTAINABLE AT ALL STORES

SCLE AGENTS 2

HONG KONG TRADING" CO., LTD,

EXCHANGE RATES.

HATS, GOWNS

& NOVELTIES.

ĮBRITISH » WIERLESS SERVICE]

RUGAY Nov, 7th.

"Felix."

Paris

124.15

Geneva

25.20

Berlin

20.33

Oslo

'18, 18

7, ICE HOUSE STABIT, Hoxe Kone.

Helsingfors Athens

1927

304)

TEL. C. 6294.

Bombay

New York

1/8.1/16 484.13/18

Amsterdam

12.087

Stockholm

18.14

Vionne Madrid

34.48

Bio

6.29/32

Brussola

34.89

$3.05 buy)

Milan....

$2.80

$20

zom.

$9, bay..

1.13,65 buy, $281.

Copenhagen Prague Lisbon

18.19

1634

1075

Buenos Aires....

1/11.1/39

2/72.

Hong Kong

2/0

Silver (spot)

201

Silver (forward)

HK. Hopea (old).$7.50 nom. EXα (now).$7.55 Rom.

United Asbestos 35 apm. Dairy Farma....... $22.90 buy,, 23) gol. Watoninery.31dk bay.

Der A-Wingsramota 5) 200,- Lans Crewlords..

Mackintoshs

Finder

Wm. Powelle

HK. Amusements

H.K. Constructions.buy, Bent Tadas. G.Bands,66% buy.

bay-bayers: sel-sellers; sa-males;

Yokohama Shanghai

30.075

47.15/39

28.11/16