1930-01-24 — Page 1

Page

- +

MASON'S

DELICIOUS'

O.K.

SAUCE.

Library, Supreme Court

Hongkong Daily Press.

No. 22.313 號叁拾百叁仟式萬弍第

KOWLOON-CANTON RAILWAY.

TIME TABLE.

On and after DECEMBER 6TH, 1929, antil Further Notice (all provicus

Time Table cancelled).

STATIONS No.10

OP TRAINS

No.9 No. No. 14 No. 15 Fall N25 0,94 No.20 SJE A. A.M{ AKTA.M. { A.M. } P.X.

P.X. P. PH. P.X.

Kowloon. Dep. 6.40 8.05 8.30 9.05 9.1510,00 12.20 1.15 2.35,7 2,50 4,808,40, 7.38

Sheung.

Yaumati, Dep. 8.40

9,25 10.03|12,15 1,21||

Shatin

Dap 7.01

9,33 10.20|12,30 1,35|

Taipo Dop 7.15

953 19.0312,43 1.48

4.38 5,49 7.44 4.50 6.00 7.55 5,04 6.13 8.09

Taipo

Market. Dep. 7,20

-

Faaling Dap. 2,30

shui"...Dep. 7,33 -9.07 9.45 10,15 10.52) 1.09 2.07 - Shun.

ohuu.Arr. 7,41 8.45 9.13 8.51|10.21 10.58) 1,08 2,13 3.10

Canton...Arr. — 19.05) —

9.58 10.37 12.47 1.59) — 17 — 5,08 8.17 8.13 10.10 10.47 13.57 2,02:55,18 6.27 8.13 3.25 5.23 8.3 8.27 3,34 6.296,38 8.33

6.20

DOWN TRAINS

STATIONS |No. 1 3o. INGI A.MA.M. A.M.

...Dop.

Canton

No, it No.18 No. 17 No.12, B6,31) Nɔ,KİNo. UẬN 41 A.X.A.M. AM... P. PKL P.M. | P, C.

8.10

Shamaban... Dep. 7.17 2.03 1234's 11.05|11.27) 11,47 9.49 4.39 5.47

Sheungshui..Dej 7.25 3.11 10.41 3

Fanling

...Dep.) 7.30 9.1512.17)

Taipo Market. Dep. 1.4.3.28 10.57

Taipo ...Dep. 7. 8,31 1101

Shatin

...Dep 7,67 9.4411.1

3:25

6.19 6.4248.52 (1.55 9.54 4.48 5.54 | 6.25 16.59 12.00 3 00 4.50 5.68

19.11 3.11 5.00 6.08

14.183.18 5.04 8.13

12,90 3,345.17 8.26 18.423,445,296.38

ESTABLISHED 1857.

EE HONG KONG. FRIDAY, JANUARY 24, 1930..

Registered as a Newspaper at the General

Post Office in the United Kingdom

伍拜禮 日陣廿月登年間百九仟登英

JAPAN'S FINANCIAL TROUBLES.

A VERY CRITICAL YEAR.

EFFECT OF LIFTING BAN ON EXPORT OF GOLD.

[United Press.]

Japan's financial problems following the removal of the embargo on gold exports, which was' effective January 11, are discussed by a noted Japanese publicist in the following article by Dr. S. Washio, published by arrangement with The Japan Advertiser:— The formal lifting of the gold embargo is not the solution of the financial malady this country has heen suffering from since 1919. It is the beginning of a readjustment that has long been needed. The year 1030 is a trial year in that sense. The preparations in the latter half of 1920 were not concern- ed with much more, then the tech nival expediency leading to

the formal announcement of lifting Whether the lifting can be made quod or not must depend largely on developments in 1930.

reduced but is merely held in tem-will be forced by international porary abeyance. A reaction will factors. The question of trade i inevitable. The new year has balance will particularly be the already brought higher retail determining factor. If it is going prices Theatres and cinemas. rais-to be as good as it was last year, ed admission charges and made re- cord business.

Three Favourable Factors, The success of the preparation

Yanmati...Dop., 8.11 58 11.26 Kowloon Arr. 8.179,03113 11.453 12.07 12.48 3 20 5.35 8.44 7.00 7.2217.54 | leading to the formal removal of

*Foa FIRST CLASS PABERGEES ONLY. WILL STOP AT ANY STATION on Request Farther information may be obtained at the RAILWAY OFFICES, Kowloon, from Messrs. Tros. Coox & Sox. LTD. HONG KONG, from THE AKTHIGAN EXPRESS COMPANY, Hong Kong, or from THE CHINA TRAVEL SERVICE, 6, Queen's Road, Hore Kora.

50]

By

Order,

R. BAKEE, Manager.

HONG KONG, CANTON AND MACAO STEAMERS.

JOINT SERVICE OF THE HONG KONG, CANTON AND MACAO STEAMBOAT CO., LTD., AND THE CHINA NAVIGATION CO.,LTD. HONG KONG-CANTON LINE..

Bailings from Hong Kong: Daily, at 8AM. & 10.00P.M. Į, Sailings from Canton: Daily, at 8 AM. & 4.30 P.M.

HONG KONG-MACAO LINE. FROM HONG KONG!"

8.00 A.M. “SUI TAl" from Wing Lok Wharf.

(Sundays Excepted)

4.00 PM SUL AN"

(Sundays Excepted)

do.

Sünday (10.00 ..only) (Sundays 14,30 PM, only)

FROM MACAO: 8.00 AM, HUI AN" (Sundays Excepted} 2.00. P.." SUI TAI

(Sundaye Excepted)

EXCURSION TO MACAO:- · On SUNDAY, 26TH JANUARY.

8.8. "SUI TAI"

Will depart from the Company's Wing Lok Street Wharf at 9 A.M., and From MACAO at 4.00 PM

NOTE-All amb at Company's Steamers are fitted with Wireless.

Where to have Tiffin To-day.

།

LANE CRAWFORD'S RESTAURANT.

MENU.

From the Joint Waggon Roast Leg of Pork, Apple Sauce

and Vegetables ...95 cts.

*

Hors D'oeuvres

H

60 ets.

To-day's Tiffin—$1.25. 1.-Purce Mongole Soup

Grilled Red Snapper, Parsley Sauce

3. Veal and Ham Patties

4-Roast Pheasant en Casserole

Roast Saddle of Lamb, Mint Sauce

6.-Chicken Curry

7-Croquette Potatoes

10.

1-Fruit

8.-Boiled Potatoes 9.-Cauliflower in Cream

Rice Cake and Golden Syrup

13-Coffee 12. Tea

Budget reduction was discontinua- tion of the loan policy, which was a relief to bankers, who were over- stocked with Government bonds and facing depreciation of their value.

we shall and the broad facts of the situation at the end' of the year as they are to-day, and thers will be no appreciable change in the price level and rate of interest, the chronic depression and the magni- tude of unemployment problem.

Balance of Trade..

But the opinion prevailing in business circles is that both exports and imports will decrease but the former will so markedly decrease that in spite of the effort to check import operation, we shall have an

a deficit of from 100.10 150 millions

Budget Economy. The most substantial preparation onde was the 10 per cent. reduction of the Budget. It is obvious that in order to bring the cost of pro- duction and prices, an economy cam 'paign is needed for the Government and business management in gen eral, and not for the average con- suming public, that uses in any event very little of imported goods, But the Government's retrenchment i did not go very far. Most of it was the mere suspension of the works import excess that will leave from. planned by the Seiyukai, Govern-1 Yen 100 to 130 million deficit in the It was helpless to reduce total international account. With- ment.

out attempting to military expenditure. Even in con

analyse this the ban can be accounted by three nection with the forthcoming naval opinion of business circles it can main causes: First, the favourable conference the Government had i be said that last year was an ex- trade balance due to the improve-

simply to swallow the plan and pro- ception, and a defeit of from 200 ment of the export trade to China, paganda put forth by the Navy. It to 300 millions was an average for the brisk demand of silk in the has not yet be able to reduce a the past ten years. The country is American market, aided by the cent of the taxes that constitute a going to this year's foreign trade frenzied activity of exporters to sell charge on industry and the consum with a special handicap due to the their goods while the exchange rateing public. The net results of the Therefore, even with the utmost recovery of the exchange-rate. was encouraging to buyers and the inactivity of "import operation

effort to check import operations, pending the recovery of the ex- change. Second, the replenishment of specie holding abroad made possible by the dollar-buying opera tions of the Yokohama Specie Bank, which had at the same time, the virtue of checking too rapid specu-country remains. therefore, fun-1 Intive rise of the exchange-rate. damentally unaltered. The inflation Third, the miraculous intervention caused by the relief legislation re- of the crash in New York, which mains just as it was before. The efflux of gold is investment in The other possibility of the brought down the American rate of amount of unemployable capital de foreign markets in search of a interest and conacquently diminish posited in the Nippon Bank has not margin of profit in the different ed the prospect of the eflux of gold diminished in the least. The currates of interest. But the possible from this country. Thanks to these

rency has not been reduced. The three technical causes the lifting rate of interest stays low. New de margin is now greatly reduced by has been effected with no alarmmands of capital do not arise. The and Britain that followed the New dering the preparation and in the lower price level that was reported York stock crash. There is also a immediate future.

toward the close of the past year

voluntary agreement among the has as yet had no appreciable dura leading bankers not to send out tion and is undependable. Retail But it is needless to say that all prices, excepting those that are due their surplus capital. That agree- these causes are more or less for to exceptional and temperaly causes ment was made to prevent the rise Besides them there have of the season, are yet scarcely of interest at home. Mr. Inouye been made two more positive pre-affected. In any event the rehas been particularly cautious to parations: the economy campaign ported percentage of drop is in-provide against that tendency. It among the public and a reduction aufficient. In short, the broad might seem strange that with unem in the Government's Budget. But facts of the situation are about ployable deposits, still fluctuating the virtue of the economy campaign as they were before the technical was illusory. The people were told preparations for the lifting of to save and reduce their consump; the ban was started. Nothing is tion. The result was decreased yet fundamentally changed except demand, hardship to business in that the ban is formally lifted. terests, and further accumulation

tuitous.

4

Public Economy.

of superduous capital. The de- crease of demand might temporarily

Inflated Finance.

The financial situation of the

"

A Critical Year. Its consequences must develop, in force down prices, and in fact it, 1930. This year will be more critic. seemed to produce that effect toward al than Inst, but in making a fore. the close of the past year. But on cast we can hardly count on any the other side it is plain that it positive factor or determined new is harder for business interests to effort at home. If left to home reduce prices for less demand, and influences only the present situa they know that, the consuming tion will dragon.

If any fun power of the public is not really damental change is to occur it

seems to be a modest estimation. Since the specie holding abroad is increased to over Yen 300 millions. gold needs not be actually shipped out to cover this deficit.

Investments Abroad."

lower rates of interest in America

between Yen 400 and Yen 500 mil- the financial authot dies should be liens, in the Nippon Bank's vault afraid of the rising tendency of the rate of interest. Bat the fact is that the present low rate of inter- est is maintained by the existence of that idle capital, and any ap- Preciable diminution of it would Psychologically bring up the rate of interest, which would be an alarm to the financial situation that has been stabilized on the basis of the inflation caused by the relief legislation..

(Continued on Page 4.)

Diary of Coming Events.

To-day. (January 24.)

Christian Fellowship Meeting, Helena May Institute, 10.30 a.m.

Ellis Kadcorie School, prize giving, 10.30 a.m.

Opening of Ying Wa College, Mongkok by H..,'ll a.m.

Lammert's Auction: Office and household furniture, 2.30 p.m.

Fairlea School, Speech Day, in St. Stephen's College Great Hall,

3 1.m.

Polo: Finals of American Tour- nament, 4.45 pim.

Opening of Kowloon Branch Helena May Institute.. 8 Amai Villas, Austin Road, Kowloon, 5

Old

p.m.

Queen's Theatre: "In

Arizona."

World Theatre: "Sin Sister" and "Kiang Nam Girl" (Chinese picture).

Star Theatre: "A Single Man " (matinees only).

Majestic Theatre: "The City Gone Wild."

Ten Dances: H.K. Hotel, Penin- Lula Hotel, p.sh.

Dinner Dances H.K. Hotel and Peninsula Hotel, 8.30 p.m.

Tides: High, 8.31 a.m. and 5.53 p.m.; Low, 19.28 a.m. and 10.50 p.m.

Saturday.

(January 25.) Government Vernacular Middle School, Yaumati, Frize giving, 11

&.m.

Fanling Hunt and Race Club Hounds Meet Hunter's Arms, 2.30

p.m.

Hockey Hong Kong Ladies' | ; Hockey Club, v. Recreio., "

Cricket:-Division I.: Craigen- gower v. Civil Service (L), Indian R.C. v. Army (L), Navy v. Kow- loon (F), H.K.CO Married w. Single (F). Division 11.: Recreio Civil Service (L), R.E. and R.S. . University (F), Kowloon C.C. v. R.A.5.0. (F).

Football: Shield Competition, Senior: Somersets v. St. Joseph's. Junior: Somersets v. Navy, South China . St. Joseph's, Kowloon # Chinese Athletic

Annual Concert and Dance, Lilot Hall, 8 p.m.

Theatre:

014

Queen's Arizona."

World Theatre: "Sin Sister and "Kiang Nam Girl" (Chinese picture).

Star Theatre: A Single Man" (matinees only).

Ten Dances Hong Kong and Peninsula Hotels, 8 p.m.

Dinner Dances: Hong Kong, Peninsula and Repulse Bay Hotels, 8.30 pm.

European Mails:-Outward: Europe vid Marseilles (Hakozaki Mara), 8.30 a.m.

Sunday. (January 28.) Third Sunday After Epiphany. -Fanling-Hunt and Race Club: Paperchase, meet at Silva's Bunga- low, 2.43 p.m.

Cricket: Canbined League # United Services, C.R.C. ground, 11

a.m.

Queen's Theatre:" "Hollywood Revne."

World Theatre: "Annie Laurie." Star Theatre: "Romance of the Hiderworld "

Led Dance lepuler Day Nehr, 4.30 p.m.

THE

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AND

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Guides

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and Special Cars Taken of TOURISTS.

Cable Address:

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PRICE: $3 PER MONTH

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THE HONG KONG SPORTING. ARMS & AMMUNITION STORE, 5-6, BEACONSFIELD ÁRCADE.

We have in Stock and FOR SALE Used and Unused AMATIC and FORTION POSTAGE STAMPS

in. Seta, Single, Fackets, Bags and in Approval Books. Your Order will have our Best Attan- tion and the Opportunity of Serving You will be a pleasure.

GRACA & CO.,

Dealers in Postage Stamps, Religious Goods, Garden Seeds, Toys, Eta, No. 10, WYNDHAM STREET,

HONG KONG

P.O. Box No, 620,

ON SALE.

HONG KONG HANSARD RE

PORTS of the MEETINGS

of the LEGISLATIVE COUNCIL for the Session 1929.

REVISED BY MR.

PRICE.................... $5.

Hong Kong DAILY PEEK OFFICA

Courtesy, Confort, Service

and Luxuries of Modern Hotel Construction

THE HOTEL RIVIERA

1

MACAU

Cable Address :" Riviera, Macan."

[42

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