1932-07-29 — Page 4

This

the way to open | the new Kiwi tin

BOOT POLISH

YOPENING S

twist of a coin in the

A specially prepared

slot opens the tin and the world-famous polish is ready for use.

Even dry, cracked leather will soon regain its natural suppleness after the use of Kiwi- Kiwi puts new life into old leather-keeps new leather young,

KIWI

TRADE MENACE

TO INDIA.

BOMBAY'S APPEAL AGAINST JAPANESE IMPORTS.

DEPUTATION TO SIMLA,

HONG KONG DAILY PRESS, FRIDAY, JULY 29, 1932,

be imposed." But this does not mean that other steps to protect Indian traders against the depreciated yen] are beyond the bounds of possibil- (ity and it is along these lines that

investigation is taking place.

Temporary Flass.

It is felt here, however, that the recent slump in the exchange value of the yen is a temporary phast Bambay. The Commerce Depart which is likely to correct itself in ment of the Government of India the near future. Japan is a heavy are now considering representations importer of foreign goods and it is from Bombay and elsewhere for manifestly to her disadvantage to special action against Japanese im-allow her exchange to remain un ports owing to the depreciation in duly depressed. Her recent in the oxchange value of the yen.creased exports must also tend to Bombay's appeal for protection has restore the value of the yen while been supported by several other the management of her currency trailing associations including the has a similar effect. That these Indian Chamber of Commerce, factors already operating to the Calcutta, and the Upper India yea's advantage is evidenced by the Chamber of Commerce, Cawnpore upward trend now noticeable in The Government of India have sent the yen.. [11] invitation to Bombay Mil-' owners to send a deputation to Simia to state their case and until the deputation has been heard no indication of the Government's at titude can be expected.

Purchases on Lower Basis. Inquiries in Bombay show that several commercial bodies in the eity and other parts of India, who have supported the representation of the Millowners' Associations on The position is complicated by the subject, have also been invited to send their representatives to the the existence of the Anglo-Japanese conference which will be held at Trade Convention of 1904 to which Simla. Both the Finance Member India is a party. Unless that Con- and the Member for Commerce and Industries of the Government of vention is denounced, special mea India will discuss the situation W. R. LOXLEY & CO.ṣures against Japan, placing her from the standpoints of the various

imports into India at YORK BUILDING,

& greater interests affected by the deprecia. lisadvantage than those of other tion of the Japanese yen.-Times HONG KONG

foreign countries cannot very well) of India,

THE QUALITY BOOT POLISHES BLACK & TANS

Money and Markets

HONG KONG STOCK NEW YORK STOCK

MARKET.

YESTERDAY'S OFFICIAL

QUOTATIONS.

EXCHANGE.

A.O.F.C. QUOTATIONS.

New Tonk, July 27.

July July

The outstanding feature of the Dow Jones Averages; market yesterday was the rise in Banks and Unions, which were bid up to 81,610 and 8450, respectively.

The rest of the list shows no material change, with the exception of Constructions (Old) which made a further advance and were marked up to 87.40:-

Balor.

Hong Kong Banks, $1,005. Union Insurances, $480, Hong Kong Trama, $22.50.

Buyers.

Hong Kong Banks, 81,010.. Canton Insurances, $1,300. Union Insurances, $480. China Fire Insurances, $600. Hong Kong Steamboată, #21. Union Waterboats, $20. Rauba, 8384

H.K. & K. Wharves, 8139. H.K. & W. Docks, 818). H.K. Hotels (Old), $10.30. Hong Kong Lands, 877). Humphreys, 816. -- Chinese Estates, $100, Hong Kong Trams, 82270 Star Ferries, 885.

Yaumati Ferries (Old), 834. Yaumati Ferries (New), $33. China Lights (Old), 817}. Hong Kong Electrica, #73. Telephones (P.P.); $21.80: Malabon Sugars, $20. Hong Kong Ropes, 812.00. Hong Kong Amusements, 8191. Constructions (Old), 87.15. Constructions (New), 81.60. H.K. Govt. Loane, 3% premium.

Sellers.

Hong Kong Ropes, 813.10.

LONDON EXCHANGE

RATES

|DRITISH WIRELESS SERVICE)

RUGBY, July 27.

Paris

DO 5/16

New York

3.63)

Montreal

4.04)

25.60

18.172

097/16

Brussela

Geneva

Milan

Berlin Amsterdam

Stockholm Copenhagon

177

10 31/32

94 97 Chauge Industrials 49.04 01:34 2.30 up 20 Rails

17.78 18.89 1.04 up. 19.53 20.98 1.40 up

10 Utilities...

Mesars. E. A. Pierce & Co. Report.

Market strong.-Business. done: 1,700,000 shares.

Air Reduction Allied Chemical and

Dyo

American Can.......... American Telegraph

and Telephone

LAST TO-DAY'S PRICE" PRICE

B371

$301

37

821

... 031

672

132

American Tobacco "B" sol. Auburn Borden Company Canadian Pacific

Consolidated Gas of

New York

Drugs, Inc.

Du Pont de Nemours 24% Eastman Kodak General Electric General, Foods General Motors International

B- - Ag F12886 & 868228 65287 21-

Harvester 13 International Tel, and

Tel.

Liggett and Myers “B” 49 Loew's Inc.

901 Pacific Gas & Electric 22 Pennsylvania Railway. Of Radio Corporation... Sonis Roebuck..... Standard Oil Co. of

New Jersey Socony-Vacuum Corp. Union Carbide and

Carbon

Union Pacific Union Facilic

United Aircraft and - Trans.

United States Stec! Westinghouse E. & M.

GRAVE: BLOW TO COTTON TRADE.

SIR KENNETH STEWART RESIGNS.

P

Manchester, June 24-Sit Kon ueth D. Stewart has resigned from the chairmanship of the Lancashire Cotton Corporation-a combine of milla which has a rapital in the neighbourhood of \£3,000,600.

He is to remain on the directorate and will continue to act as Chair man until his successor has been Tappointed.

48 1

The resignation has come gicat surprise, after the hopes that were expressed on his appoint mont as to the prospects of a new outlook for the cotton industry.

In his letter of resignation, Sir Kenneth Stewart states:

The Lancashire Cotton Corpora- tion was formed with the carnest

hope that might help to become the nucleus of a new outlook for the cotton apinning industry. I had hoped, as Chairman of the Cor poration, to assist in plana for the

of greater centralisation effuri directed towards the unification of the trade. It is a great dis- appointment to me that this hopie has not bean realized.

Catastrophle Position,

to assist in bringing about such unity, or approach to unity in the trade, and in these circumstances there appears to me to be po object in my remaining as Chair- man of the Corporation.

Sir Kenneth Stewart was ap- pointed Chairman of the Lancashire. Cottan Corporation in 1020 by the Bank of England under whose auspices the combina was then forthed.

EXCHANGE.

CLOSING QUOTATIONS.

July 26, 1932 ON LONDON:-

Telegraphic Transfor... 1/3} Bank Bills, on demand 1/31 Bank Bills, 4 months'

sight Credits, * -months'

night... 113 ON PARIS:-

1/3)

Bank Bills, on demand 575 Credits, 4 months' aight 615

On New YouK:-

O

Bank Bilia, on demand 29) Credita, to days' sight, sağ BOMBAY -

Telegraphic Transfer Bank, on demand ...

On CatoUNTA (10)

Telegraphic Transfer Bank, on demand ON SHANGHAI:--

Bank, at sight....

On YoxoxAMA: -—--

Järk.

...}781

On demand........................... 81). N. ON MAxiza-On demand... 45°

| On SingapoRA:--

On demand

542

|ON BATAVIA:~On demand. 50)

On HairHor:-

· ́ On demand

It must be apparent to everyone Or B1100%;-On demand

that there is no sign of any pro- | ON BANGKOK:

gress towards unity between spin-

nors, and no greater willingness.

on the part of the American

section of the industry, at any rate..

18

醒

301

90%

238

10

3

14)

16

to enter into any mutual relation- ship in order either to meet not only the present catastrophic position in

which the trade finds itself, ar to

20

10

face the fact that many markets previously open to our cotton trade

187

will no longer be available.

411

413

I have for many years felt that

the future prosperity of the cotton

278

trade must depend primarily upon

I.LD. CERTIFICATES.

Of the Societe Internationale de followed. This would, Placements, Basle.(Local agents Messrs. Gocke and Co.).

Thursdays (July 28) official quotation in Basle. £2 133. Od.

Buenos Aires Montovideo

110

6 1/32

Nominal:

8.70

19 15/32

18 9/16

Oslo

Vienna Prague

31 nom. 1191

Lisbon

Rio

Helsingfors

235

805

550

Hong Kong

9221

Yokohama

444

Silver (spot)

(biotiqued, an next column.)

Silvor (forward)

17 1/16

EDINBURGH CASTLE Buđặt in the 7th century su a Mazsipa

basılamenta are ass.fi, obogaten from. I active carver as a forme cloud in 274S-

Johnnie Walker, the

world's best

selling

whisky, has been a fav-

ourite with men for

over a century. And the

qualities which are re- sponsible for its great popularity to-day are the same as those which

have won it esteem in

the past.

Bucharest Athens Belgrado Madrid

Shanghai

30 nom. 1/87/32 1/31

1/51. 17 1/16

the formation of large units, ori at any rate, upon the centralisation of control, in such a way as to make it possible for general lines of policy to be laid down and I beliere, preserve internal peace in the in- dustry, and enable the resources of Lancashire to be concentrated upon meeting the difficult problems of external competition all the world over. I believe this to be necessary still,, and I believe that until in some way unity of action is achiev ed the cotton trade will continue to decay.

I have decided that no further action of mine through the Lanea- ahiro Cotton Corporation, can serve

PARENTS' DAYS

TO-DAY TILL SATURDAY

Another New Feature

CHARACTERIZING

571

BovERRION, Bank's Buying

On demand zonen 1484

Hate omuzzintara 1/4 -

BSE SILVER, per C. 17 1/16

COMMENCING SUNDAY }

AT THE KING'S 'AND ORIENTAL THEATRES

BITSCH

One Hour With You

£ Crocineror Glance

with Jeanette MacDonald

Born 1820-Still Going Strong

JOHNNIE WALKER

Sole Agents for China:

Caldbeck, Macgregor

Shanghai

Company, Limited Hongkong

SINCERE'S

PRE- AUTUMN

NOW IN FULL SWING.

SALE

NINE DAYS HAVE PAST with unusual interest and attractions in the Mannequin Parades and Ladies' Days during the "Sale." But in making your purchases at this great savingsTM time, have you ever given thought to your old father and mother? Come in today and let us show you what we have to please your parents and yet to please your purse too.

EVERY VISITOR TO OUR STORE WILL BE GREETED AND PRESENTED WITH A SMALL BOUQUET AS A SOUVENIR BY A CHARMING GIRL IN SPECIAL CHARGE.

Come and See for Yourself. Absolutely no obligation

Tientsia

THE

SINCERE CO.,

LTD.