1930-01-11 — Page 6

6

Sleeping Suits

or present wear

The extremely soft finish of the fine Ceylon Flannel makes them feel when

warm

you put them on

and keeps you warm.,

Fancy stripes in new designs.

$8.50 per Suit.. 3 for $24.00

Less 10% discount for cash

WARM BATH ROBES, DRESSING GOWNS, SLIPPERS

Mackintosh's

JUST RECEIVED

TWO NEW RECORDS

by

GRACIE FIELDS

B-3176-

B-3202---

(That's How I feel about You' (Thoughts of you

Oh Maggie, what have you been up to? 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

etc., etc., etc.

S. Moutrie & Co., Ltd.

(Victor Distributors)

Chater Road.

Missing Diamonds !

Claim Against Local Bank; St. George's Ball; are topics of interest in the

Weekly Press."

14

Naval Volunteers Scheme Vetoed The New Terri- tories Show; China's Glut of Silver, are other interest- ing features.

THE PAPER WITH THE YELLOW COVER.

Price :-30

Cents.

Annual Subscription: Hong Kong, $13; Post Free to any address, $15; Quarterly Subscription, $3.75.

"Orders should be sent to the

HONG KONG DAILY PRESS, LTD.,

TELEPHONE: C. 12.

11, Ion HOUSE STREET.

THE HONG KONG DAILY PRESS SATURDAY, JANUARY 11, 1930.

GAINS AND LOSSES ON THE DOLLAR.

FORTUNATE GAMBLERS IN EXCHANGE.-

HOW THE LOW DOLLAR WILL AFFECT THE HOUSEWIFE.

GAMBLING IN EXCHANGE. MR. AND MRS. MAN-IN-THE-

ENORMOUS PROFITS.

While we hear many loud lamenta tions over the falling value of the dollar, and while exasperated victims have been busy" trying to find remedies for real or imaginary weaknesses in the currency of Hong

STREET.

LOOK AT THE, FALLEN DOLLAR.

COST of living anD FAMILY

RESPONSIBILITIES.

MISSING SHIPMENTS OF PAPER.

BANK'S CLAIM AGAINST IMPORTER.

4

Before the Chief Justice (in Chambers) yesterday the Banque Franco Chinoise pour le Commerce et l'Industrie sued Messrs. S. L. Kwok & Co. for $27,292, represent- ing the sum alleged to be duo on two bills which had been accepted' | by defendanta...

Details of the circumstances in this case were published in our columns some weeks ago. Brielly, the facts are that cortain large con signments of paper-alleged to have not to be found on board the vessels been shipped from. Europe-were

bills of lading were duly received, but there was no corresponding entry upon the ships' manifests, and it is understood these bills of lading bore forged signatures.

While bank managers and pro- Kong and China, there is a small | fessional, or amateur financiers, are section of the Chinese community discussing the silver basis. China's who are enjoying quiet laugh at currency and the bank rate. Mr.named when they arrived at Hong the wails and moans to be heard on and Mrs. Man-in-the-Street are ask-Kong. Documents purporting to be all sides. These people practicallying themselves what the fall in the live on the doorsteps of the local value of the dollar is going to menn banki, and not a day passes without to them. And they generally dis- they enter into Bome exchange cuss the problem with long inces. contract or other, either directlyThe cost of living will quite inevit with the banks, or through repre-ably go up, though probably not to sentatives of those institutions, for any appreciable extent until March, the banka cannot recognise all and sundry. These men follow the slightest change in quotations with the "greatest intereat, for they are gamblers all-in the business inter- pretation of the term.

A Very Happy New Year. A good many of these people are looking forward to a very happy Chinese New Year for, either through "a stroke of fortune or through their close association with

the banks and intensive study of daily quotations, they figured on a drop in the Hong Kong dollar, and entered into commitments with this

end in view.

Whether they foresaw the present

The Case for the Bank. The plaintiffs claim against the defendants was that they necepted two billa of exchange for £1,436 and Six weeks from now, if the dollar£1,186, beth dated August 30, 1923, still stands at 1/8, the cost of living will have increased by from 25 to 30 per cent.

"The evil-minded grocer " of Chesterton's poem will not be to blame. He will have to pay for his dollars for his sterling than he did goods in sterling, and pay more

six months ago. If he is to cou- tinue in business he must increase his prices. The same applies to every form of retail trade. Evea

vegetables and fruit bought from the interior, or Oriental goods of any description, will cost the retailer more because he will get fewer Canton dollars for his Hong Kong currency. Hong Kong, retailers

abnormally low rate is open to ques-have treated their clients well in tion, but it was learned on good this crisis. With a very few excep authority yesterday that profit tions no prices have been raised amounting to three, five and seven lakhs has been made by different the 2/- dollar, but it is unreason- on goods which were bought with

speculators, while Д number of

banks.

and drawn by L. O. Baird, of Oshby, Switzerland, upon the defendants, payable 60 days after sight. The bills were accepted by the defend- ants on October 15, 1020, and duly presented by the plaintifs, but were dishonoured.

The plaintiffs made a total claim

to 827,992. of £2,693 principal and £77 interest, amounting in Hong Kong currency

Mr. Adolphe Rollin, Manager of the plaintiff bank, gave evidence of the nature of the claim, and pro- duced the bills.

Accepted by Mistake.

denied that he was liable under the Mr. Kwok Sze Lei, in his affidavit, two bills, and asserted that the said bills were accepted by mistake ments of paper against which the and in the belief that the two ship- said bills were drawn by L. O.

Baird had been so shipped: whereas against the bills. in fact no paper had been shipped

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GATE CRASHERS"

AT PO HING THEATRE.

A Student Also Struck. Mak Yick, a student of 18 years of age, said that he went to the Theatre that evening to Bon the show. He was in the hall near the ticket office when he was suddenly IRON BARS AND WHITE splashed with whitewash And

WASH.

SAVAGE ATTACK ON ATTENDANTS,

Two Chinese were charged before Mr. T. B. Whyte Smith at Kowloon Magistracy yesterday with mali- ciously wounding two" persons, namely an employee of the Po Hing Theatre, and a student, on January 4. They were further charged with assaulting an Indian constable and

resisting arrest.

Mr. Arthur Covey prosecuted on behalf of the Police Mr. A. E.

The bills were drawn on defend. Hall, who appeared for the defen- ants under a credit open on May 29 dants, remarked that he had just by the defendants with the plain-been instructed to defend and as tiffa for £2,740 in favour of L. 0.

he did not know the facts of the Baird, to be availed of by D. P. draits drawn by Baird on the case he was pleading not guilty. defendants at 60 days sight gainst paper to be shipped by the said that on the night of January 3, the Mr. Covey outlining the ease said L. O. Baird to defendants.

two defendants came to the Po Hing Theatre and attempted to get in without paying. They were re-

Half of the consignment was to be shipped not later than August 31, and the remainder by October

31.

The credit was revocable, and did fused admission by the first com. not relieve the drawer from liability, plainant, the ticket collector, and On October 15 the bills were pre-tried to make trouble with him. defendants, but no bill of lading or sented by plaintiffs and accepted by

by the bank to defendants. shipping document was then shown

struck on the head. He fell is the ground unconscious and "came to" lying on a chair provided by the theatre attendants. He did not know who,, struck him or why he Was truck. He produced the clothes which he wore that evening and they were all splashed with white lime.

Another attendant of the Theatre anid that he saw the two defendants leading a mob of men to the Theatre, They hit the complainants and The other men carrying iron bars splashed whitewash their faced forced him into a corner and he

was unable to assist his, fellow- worker. There was a great con- fusion and someone blew a police whistle. The men ran away, the defendants being last to leave. The theatre, wall and curtain were also splashed with whitewash.

The two Indian constables who arrested the defendants gave evį. ed in the face with whitewash by dence. One said that he was splash-

the second defendant in attempting

the first defendant the latter had to stop him; while the other con- stable said that when he arrested

an iron bar in his hand.

Previous Trouble,

Mr. Covey in his submission to the Magistrate asked for the severest penalty. Three months ago trouble of a similar nature at the same Theatre was brought to his Worship's notice. It was ap- parent that the defendants came in the Theatre looking for trouble, as they came drew the Magistrates' attention to twice. Mr. Covey

the clothes of the complainants the damage to the theatre and to

others have "small" profits of from i able to expect them not to charge $50,000 to $100,000 to show. There proportionately more on those pur-

chased with a'1/0 dollar. were a few speculators who did not believe in the continued fall in the

Outlook Not So Gloomy. Hong Kong dollar, and these have. A discussion of the situation with been caught, but not too badly, as some of the leading retailer. the bulk of the profits, en it is re-chants of the Colony revealed some ported, have been made out of the interesting facts. Their genera! outlook is not nearly so black as that of the man in the, street and When the dollar on Thursday his wife. While realising that their cuched the lowest record to date, they appear to feel a certain can trade will be to an extent curtailed,

The defendants returned the next a pitiful scene was witnessed out-fidence that things will adjust them-

evening accompanied by ten others, side one of the local banks.

On November 1 defendants receiv. The first defendant carried an iron One selves after a few months. The ed from plaintiffs two bills of lading bar and the second, a bucket and man.. who was probably among the slumps of 1930 and the following representing two consignments of a brush of whitewash. They came

yeurs were recalled. minority who were caught, was ask people stopped buying anything but ped on the Malaya, against which looking for trouble and tried to and asked for compensation.

"At first paper purporting to have been ship necessities, but after a time, they the two billa were drawn on the de-fight their way in. The defendants accepted the new prices us normal, fendants.

splashed the complainants' eyes with whitewash, and struck them with the iron bar. Police whistles were blown and the mob ran away.

What is Behind it. The two defendants who were last policeman in plain clothes.

After some discussion on the ques rua were stopped by a Shik tion of compensation the Magis

The trate in convicting the defendants them and received a frush full of between the ticket collectors and latter attempted to arrest one of hooliganism went on at the Theatre anjd be wondered what sort of

Shik policeman came up and to whitewash in his eyes.

gether they arrested the defendants. The two victims had to be taken to hospital where they remained for

our representative was told.

No Paper on Board.

ing those who had gathered closely round him to let him off. To the man's repeated request there was at The retailers anticipate doing on first ne response, but later one man the whole a smaller volume of trade It was the intention of defend- flaunted a piece of paper in the during the coming year, but they ants to take delivery of this paper supplicant's face, the while expinining very heavy consequences. Some bills of lading to the steamship do not seem to anticipate suffern arrival, but on presenting the ing that he was not actually pocket- are considering the policy of buying that no such consignments of paper agents defendants were informed ing any of the man's losses himself. only enough stock to meet the re-

gular demands of an assured circle were on board. There followed a label of voices. of patrons; and giving up any iden Baird, purporting to, aut on the and whether the unfortunate man of enlarging their business or at-

Defendants contended that L. O. was eventually "let off" or not far rises or its lower value has plaintiffs the two bills, and that the

tracting new

terms of credit, negotiated with custom until the remains unknown, for the witness heen

stabilised and to the curious scene had passed on.

plaintiffs tacitly represented that accepted. Others are considering buying a

the paper had been shipped. cheaper class of goods in order to avoid raising their prices, but they are in the minority.

Round the Banks,

At one of the banks an Indian merchant was seen in long confer- ence with one of the officials. When the conversation ended the official disappeared into a room marked Manager, while a Daily Press man went up to the merchant.

"Are you worrying about the ex. change also was the query pat to him.

Influence of "Jack Frost,"

Alternatively, defendants argued that no steps were taken by plain-

tiffs to ascertain whether Baird had

to

Another

in fact shipped the paper against treatment for their eyes and for the bills. The defendants, there scalp wounds. Mr. Covey remark fore claimed that it was the duty

Mr. Hall remarked to the Magia trate that only one of the defen- sault, unless the prosecution could dants was guilty of malicious 48- prove conspiracy.

understand why these people at- others as the same thing occurred in the previous case. He could not tempted to get in without paying of it all?" he asked of Inspector- their way. Fallon.

"What is at the back

Inspector Fallon replied that it was merely a case of the defendants belonging to certain societies and

the bills, to take such steps as were ed in a whitewash firm and knew of his confederates. of plaintiff, when they negotiated ed that the defendants were employ-one man would call the assistance

necessary to see that everything was

in order. with cost

Judgment was given for plaintiffs

AS

that the line was a very harmful His Worship said that someone thing to use. The other defendant might have easily been killed by carried an iron bar, which Mr. the iron bar and that it was rather Covey produced, and referred to extraordinary that the two defen

a murderous thing."

dants should stand out amongst the Medical Evidence.

mob of ten. Inspector Fallon re- If the dollar does not rise which I

plied that it was only natural that think it will of course our March

Medical evidence was given by the party with the grievance would

but our usual British market and January 4. The first had a cut on no intention of buying goods in any

loon Hospital, who said that the

The Magistrate convicted the first two complainants were admitted on defendant, who used the iron bar, on the charge of malicious wound- the price of small, haberdashery the scalp, while the other had twoing and of possession of the iron what it is at present. There is no their wounds and left two days articles will in any case remain long cuts. They were treated for bo direction in which the fall of the dollar helps us. It is all the other later. Both men, had slight con- way. However.

junctivitis of the eyes.

Blinded and Strack, The ticket. collector, in evidenco said that the two defendants, c

"I should say I am. I am just chants are experiencing good sales buyings must be affected. We have Dr. D. J. Valentine, of the Kow-lead the attack!

However, as both charges were really the same thing the Magis trate said that be would make the zentences concurrent. Ho imposed sentences of three months' "hard" labour on each charge.

The second defendant was con-

tors for the retailer. The cold spell But there are compensatory fac for one. In one of the most im. portant European shops dealing in Criental curios and objets d'art, our representative was told that while there had been less than the pensive wall pictures, there had usual demand for jewellery and ex-

been unusually good sales of Pekin and Tientsin carpets. Other mer. waiting for the bank manager to of woollen garments, coats, scarves give me a rate. Terrible state of and travelling rugs. Then there is things! Who will send anything what might be termed to borrow to Hong Kong at our prices was ing instinct. It is obvious to every a war-time phrase the food-hoard the reply.

oue that prices must go up when An Unquoted Rise.

new stocks arrive, and many con sumers are tempted to buy largely Passing on to another bank our now for the future, of the goods already in stock at more or less representative met a Chinese well normal prices. Not only food but versed in exchange matters, and clothes and every sort of necessity, not a little intcreated in the fluctus even in some cases luxuries are It seems likely that Mr. and Mrs.companied by ten others armed with victed on the charge of assaulting tion of the Hong Kong dollar.

being bought before the family Man-in-the-Street will not really iron bare, came to the entrance of the police constable only, and was "Have you heard?" he asked, the lower dollar.

exchequers feel the real pinch of suffer as much as they expect to do the Theatre Without warning the sentenced to two months' hard on sighting the Daily Press man,popular than usual this year.

sales should prove

Compensation. "Exchange has gone up half a

Home. Living will be more expen-arily blinding him. As he wiped farthing, but the banks are not

No Increase In Prices!

sive, but almost automatically our

The first defendant was ordered his eyes, he was struck on the head to pay 815 compensation to both standards will be adjusted to meet with the iron bar by the first, de- the two complainants, or undergo.. quoting it!"

Mr. H. Overy, of Messrs. Wm. our incomes. There will be lesa in fendant and knocked unconscious a further three weeks hard labour. "No, I haven't heard," the writer men's tailors and outfitters, viewed month or two, possible for longer, the Folice Station where he reed the whitewash, was ordered to Powell, the well-known firm of dulgence in luxury certainly for a for a time. He was later taken to The second defendant, who splash- replied, "but why do you think the the situation with confidence and but probably little actual want. It cognised the two defendants as the pay 85 each to the two complainants banks are not quoting it?"

even optimiani. "We shall not put is on the parents of children at men who struck him. our prices up." he said. We buy school at Home that the burden

and the Indian constable, with a. "A further drop is anticipated, only twice a year, in September and will fall most heavily, for their defendants had come to the theatre owner of the curtain, which was Witness remarked that the two further payment of 810 to the my friend, that is why!" was the March. Our September.goods were school fees and upkeep will have to the day before and tried to get in splashed with whitewaab Failing stentic noswer.be gausias be passed sur cetewers win hove

bought at the rate of 1118 and be paid in sterling, which will mean, free-When that we give tille payments, no have full beacht. Bigger outlay, of dollars, thann.ittance, the first defendant struck would receive a further sentence of (Continued on next Column.) formerly

him on the chest and ran away, three weeks' hard labour.

Trade is good just now-people want things for the cold weather." An Optimistic Note.

The January from the low exchange rate provid. second defendant splashed the brush labour.

avco more ed they have no responsibilities at of whitewash in his eyes, tempor