1930-01-08 — Page 4

SPECIAL OFFER

of-

Soft

Felt

Hats

Heary

Heath

(January 6th to 11th)

Ritz

Scotts

THE HONG KONG DAILY PRESS, WEDNESDAY, JANUARY 8, 1930.

Snap brim and bound edge in all colours."

$9.50 each net.

Chamois, Suede and Tan Cape Gloves

all at $4.50 per pair net.

Mackintosh's

JUST RECEIVED

TWO NEW RECORDS

by

GRACIE FIELDS

B-8176-

B-3202-

That's How I feel about You Thoughts of you

Oh Maggie, what have you been up to? 1 I've got a man

Also a number of other interesting

H.M.V." records by

WALTER GLYNNE,

PETER DAWSON

WISH WYNNE

PAUL ROBESON

REGINALD FOORT

ARTHUR MEALE

ctc, etc, etc.

S. Moutrie & Co., Ltd

་

(Victor Distributors)

Chater Road.

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housers

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$3.95 to $6.50

CALL AND INSPECT.

WHITEAWAY, LAIDLAW & CO.,

HONG KONG

LTB.

CHINA GLUTTED WITH SILVER.

BANKER ON THE FALL IN THE DOLLAR.

SOME KIND OF SILVER RESTRICTION POSSIBLE.

LOCAL MONEY LIKELY TO FALL

FURTHER.

Yesterday the Shanghai taol reached the lowest quotation on record, the price being 21.5/18. The previous low-lovel mark was 21.11/16d. in November, 1902.

The Hong Kong dollar fell in sympathy, and reached 1/6 13/16, compared with 1/7 3/16 on Monday, a fall of 3/8d, in twenty-four hours. The dollar has only once been lower-namely 1/6 1/2 also in November, 1902.

HONG KONG DOLLAR STILL AT PREMIUM.

Interviewed by our representative, Then you do not think that the Hon. fr. A. C. Hynes, Chief peace and a revival of business Manager of the Hong Kong and would see a fresh demand for silver Shanghai Banking Corporation, and a rise in the dollar," said the said that though the local dollar interviewer. was lower than it had ever been, except" for a brief period in 1902, it was still at a premium against the imported silver dollar. To get down to the importing price of the silver dollar it would have to fall

still lower.

This further depreciation Mr. Hynes seemed" fully to expect, though not committing himself to a definite prophecy on the point.

Asked if he could give any idea! where the fall in the dollar would stor, Mr. Hynes, said he certainly wished he knew, but he could say nothing on the subject. There seein- ed, however, no strength in the market.

CANTON'S SALT REVENUE.

DISTRICT INSPECTORATE

RESTORED.

Canton, Jan. 1.-A' poteworthy step forward in the Central Gov- ernment's programme for the cen tralization of national revenues was made to-day, says the Canton News Agency, when the Kwangtung Dis- trict inspectorate of Suit. Revenue was restored in the Canton River area, by order of the Finance Ministry. Mr. Fan Kee Mu, Com- missioner of Finance and' concur. rently Special Finance Deputy,_ wna: deputed to swear in Messrs. Tang Shih Wan and R. D. Wolcott, the ceremony taking place at non in the new "District Inspectorato offices at 968, Ching Hoi Bund.

The Kwangtung Central Bank will continue to function, as collect- ing bank and repository for the salt revenue. By order of the Ministry, after paying sanctioned administra tive expenses, the second charge on the provincia salt revenue will be Kwangtung's pro rata share of the fund for interest and amortization of foreign tones previously secured on the national salt revenue, which amounts to $76,000 a month. The balance of the collections will be catirely turned over by the District Inspectors to the Special Finance Deputy, Mr. Fan Kee Ma. The an- it is interesting to note that, accord-ual total salt revenue collections Kwangtung average shout ing to the London Times, 4,000,000 for ounces of silver were shipped to 80,000,000. China during the first week of De eember.

No. The country has plenty of silver to cover anything it needs of that kind for the present. There is nothing to force the value of silver

in view of the present position." In view of what Mr. Hynes stated

The 1902 Crisis."

Old Offices to be Re-opened, After consolidating control in the Canton River area the District their

In 1902, according to Mr. H. R. B. Inspectors plan to re-open Hancock, of Messrs, Stewart Bros., former offices in the East River! there were heavy fluctuations in the section gradually extending opera. dollar. It touched 1/63-the lowest tone to core: the Swatow and Pak- "hoi areas. Control of the salt on record-but the highest figure for the year was 1/1011., and the worss, Preventive Force and sut The whole trouble is," he con-average for the twelve months was transportation remains in the bands Itinued. "Chinn is glutted with 1/8d. There was none of the blank of the Salt Commissioner. Mr. Chen silver. As you know, silver and depression of the present situation. Wei Chou, Until their official re- copper are generally produced in

After that year the dollar steadilystoration to functioning to-day the Kwangtung District Inspectorate conjunction-the production of silver recovered..

of Salt Revenue "has been closed depends in fact on the demand for

since May, 1999. copper.

India is a regular and steady buyer of silver, but China has all she wants and until China wants to buy more I de hot see how the tael and the dollar are to revive. As far as I can see, some of the silver-mines will have to cluse, or, in ther words, there will be a form of restriction.

Shanghai's Stock. Shanghai's estimated stock of silver is enormously above what

it used to be. The figures yester- day were

Steady Fall Through the Year. The following table from the North-Chind Daily News shows the. exchange rates for telegraphic trans- fers for the whole of 1929 at in- tervals of, approximately, a fort- night:

1020"

Jan. 4

RESPITE FOR FORTUNE TELLERS.

GRADUAL SUPPRESSION TO BE THEIR FATE!

K. M. A.

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VICENTE ATIENZA & CO. No. 54, NATHAN ROAD, KOWLOON." TEL K. 155.

JUNIOR LOCAL EXAMINA-

TION.

SUPPLEMENTARY PASS LIST.'

Central British School.-M. L Poynting.

Italian Convent.-Amy Leong Hon Wa (dist, in Biblical know- ledge).

Queen's College.-Ho Hung Wai..

TO BE REMOVED.

The Canton Automatic Telephone Company has asked Military Head A Canton paper says that in spite quarters for an arrangement to be of the Government's order banning made for the wooden poles of the fortune-telling from January this old manual telephone service in the year, fortune-tellers are still carry-streets of Canton city to be taken ing on business as usual. They down, but owing to military move 2/6.1/16 have repeatedly appealed to the mente in the province Hendquarters 2/01 authorities to lift the ban or they was unable to comply with the cables from the wooden-poles and 2/6

would starve to death." Accord Company's request.

connect the wires on the new con 2/53

ingly, the Bureau of Social Wel Now that the war is over the crete poles built by the Company. 2/5

fare has decided to postpone the Company has repeated its request The old poles will be taken down execution of the order for the time with the result that the Communias soon as the army Commünica. heing. Measures have been taken cations Department has been order- tiong Department has completed the for the gradual suppression of thised to remove all military telephone work of removing the cables. fraternity...

(Continued on next Column.) Canton Gazette.

2/73

Jan. 17

2/7

Feb. 1

2/03

Feb. 15

2/63

Mnr. 1

2/63

Mar. 16

2/61

Mar. 28

April 5

Srece, 91 millions.

April 19

:|

Dollars. 14 millions.

April 26

"Now in former times, just before China New Year, 60 million sycee and a very much smaller quantity in dollars was considered comfortable at New Year. Syrer is now nearly 50 per cent, above that figure."

May

3

May 18

2/52

May 31

2/42

June 14

2742

June 18

2/4

July 5

2/4

July 19

2/41

China's Disorder Not the Chief

Factor..

Aug. · ?

2/15

Aug. 16

2/41

Aug. 30

2/41

Sept. 13

9/33

Sept. 27

2/3

Oct. 11

Oct. 25

Nov. 1

2/2

Nov. 15

Nov. 29

2/2

Dec, 13

Dec. 27

2/24 2/13

Mr. Hynes did not think that the disturbances in China, either the wars or the famine, were major factors in the situation, though they influenced the market to some de gree. Silver was being deposited in Shanghai to cover new commer cial operations of all kinds. the country districts were being denuded of silver he did not think probable. It was more likely that Jarge quantities were being hoarded. The Shanghai figures were only as estimate, and might be higher.

That

· THE RETIREMENT OF CAPT. GOWING.

PRESENTATIONS TO DEPUTY COAST INSPECTOR AT THE CUSTOMS.

use

Upon his retirement last week after 31 years service in the Chin- Maritime Customs, Capt, Baron H. Gowing, Deputy Coast Inspector, was felicitated by mem- Lers of that body at an informal gathering in Shanghai, and was the recipient of a handsome gold watch suitably cugraved from the foreign, staff, and of a beautifully wrought silver incense burner bear- ing Chinese inscriptions, from the Chinese members.

It is of interest to note that bar silver was quoted at 28,5/16 on January 4, 1020, and at 21.5/10 or, December.30...

THE WATER SUPPLY.

18 MILLION GALLONS FROM SHING MUN.

HONG KONG.

The total storage in the island day, January 6, reservoirs on the morning of Mon- amounted to 1.219.77 million gallons shewing a decrease of, 47.50 million gallons during the past week.

The week's consumption amount ed to 46.91 million gallons.

KOWLOON.

The total storage in the mainland reservoirs, on the morning of Mon- day, January 3, amounted to 468.30 million gallons, shewing a decrease of 9.04 million gallons during the past week.

The NC., Daily News says the presentation was made by Cap H. E. Hillman, chief coast inspec- tor who eulogised Capt. Goving and said that he was voicing the The week's consumption amourt belief of every man present thated to 25.33 million gallons, not in- in losing Capt. Gowing the secluding 1.85 millions supplied to vice was parting with one of the Water Boats at Lai Chi Kok. most capable officers and

The yield from the Shing Mus. characters ever in its employ. He River and streams during the week had known' Capt. Gowing for!

is 18.14 million gallons. many years and his opinion of him as an efficient officer in every acnso of the term had never changed.

finest

Capt. Gowing replied in a few The presentation by the Chinese well chosen words, and said that staff was made by Mr, Z. Y. Chen while it was somewhat difficult to who spoke of the happy associa part from associations which he tions between the Chinese had for 31 years, nevertheless be Capt. Gowing and their loss at his felt that his work here was finish. į departure..

1

and

Home on January 16 and will settle

ed and he wanted to return to Eng- Capt. Gowing is sailing for land to settle down. He had seen the Customs in the various stages of its huge growth over the past years and he was happy to have had a part in it. He was glad to

in Coventry, where he has main tained a.place for many years and

of which city he is a native,

He entered the Customs service

be able to enjoy a well-earned rest, in 1808 junior officer on one

and would alwythur craters Heyn with doings in Shanghai as best he could whilst at Home. (Continued at foot of next column.)

made a commander in 1000 and he was appointed to the office of the Deputy Coast Inspector in 1022,

CATHAY HOTEL

THE BUND – SHANGHAI

THE MOST MODERN ·

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CATHAY HOTEL

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HOTEL with Spring Dance Floor opening on to the Roof Terraces.

RESTAURANT

"TOWER" à la Carte RESTAURANT on the Ninth Floor.

BANQUETING and PRIVATE DINING ROOMS on the Tenth

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E. CARRARD, Manager.

CABLE ADDRESS-

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SHANGHAI,

+