1933-02-02 — Page 12

HOURS OF WORK

FORTY-HOUR WEEK GIVES BEST RESULTS

(BY HENRY ROYCE),

the Organisation rubsequently adopted a resolution recommending the reduction of hours and distri bution of work and expressing their opinion that the best results had been obtained by a forty-hour week, The Labour Conference of last May again called for an investiga- An important report on the question of the question of the legal tion of hours of work and unem institution of the forty-hour week ployment has just bron issued by with a view to the early adoption of international regulations on the the International Labour Office of the League of Nations. It will be subject. In September last a speci- remembered that a year ago the af meeting of the Governing Bour workers' representative in the In. of the I.L.O. was held on the in ternational Labour Organisation, itiative of the Italian Government. asked for the convocation, of an

which asked that a Preparatory. Technical Conference be convened International Conference to secure an agreement for the general shor to study the technical problems tening of hours, if possible on the conected with hours of work, and basis of a forty-hour week,

to place the question of reduction of hours immediately on the Agenda of the International Labour Con- ference of 1933. This Conference will be held on January, 10, and its report will be placed on the Agenda of the International Labour Conference which opens on May 31,.

This proposal was rejected, but the Unemployment, Chmmittee of

AMERICAN ORIENTAL FINANCE CORPORATION

through its Agent

Asia Lands Limited

Gloucester Building

offers s... COMPLETE

- BROKERAGE

SERVICE

in

NEW YORK STOCKS

Ful and Odl Lots of listed Securities bought and sold for cash or carried on conservative margin.

Phons 28380, Cable : 'A S'ALANDS.

SHIPBUILDERS,

SHIP REPAIRERS,

BOILER MAKERS, FORGE MASTERS, OXY-ACETYLENE AND ELECTRIC WELDERS,

MECHANICAL AND ·

ELECTRICAL

ENGINEERS.

The report just published is the tended to serve as a basis for the diwussions of the Preparatory Conference. It consista of Five chapters.

The first describes the present situation as regards hours of work; the second considers the posibility of re-absorbing unem- ployment by reduction of hours; the third discusses methods of re duction; the fourth describes ne tion already taken in different countries and annlyses results of the experience so far gained. The fifth chapter is devoted to a study of the question whether the measures al ready taken in different countries can be generalised by international (Continued at foot of next Column)

DOCK-

Length 787 Feet. Length on Blocks 760 Feet.

THE TAIKOO DOCKYARD & ENGINEERING COMPANY OF HONG KONG,

Salvage TuG "TAIKOO"

WIRELESS CALL

V.P.G.N. 800 METERS.

LIMITED.

Depth on Centre of

SII (B.W.0.S.T.) 24 ft. 6 ins. -THREE SLIPWAYS.---`

Capable of Handling Ships Up to 4,900 Tons Displacement Electric Crane at Sex Wall Capable of Lifting 100 Tons at 70 Feet Radius.

HONG KONG DAILY PRESS, THURSDAY, FEBRUARY 2; 1933.

MONEY AND MARKETS

#UTA

THUT

江苏

TWENTY

REPRESENTATIVE

A.O.F.C. Average of Shanghai Stocks

|KUN.

*25.0 HD

$25.00

21.29

30

A.O.F.C. MARKET COMMENT

no

Bond Market showed almost change during the past week. The highest advance was made by 18th Year Customs, which registered & gain of 1.10 and 1.00, and the great- ont loss was suffered by Disband- ment January, which was off .00. The athy of the financial com mnate during the past week enn be gauged by the amount of transactions, which totaled

only. 830,589,000, for this week.

January 24, 1833. sellers and buyers. The same list The week under review bogalessness predominated during the with continued quietness, only nar- balance of the week. The market

was apparently marking time row price movements occurring On Tuesday, bugers were apparent awaiting buying initiative. Activ at the lower rates; Shanghai Lands ity was confined to a few deben changed bands at 24 and Yangteratures, such as 7 per cent. City Loan, Finance had buyers at 7. During dealt at M$80.00. Shanghai Power, centred which was quoted at 83.23, and Wednesday, interest was

@ per cent. debentures on Ewos, business being done at S.M.C 14.30 January and 14.40 February.which changed hands at Ti02. A fair amount of business was slight amount of interest was shown transacted on Thursday; Ewos. for China Realty and Intascos. Trams and Shanghai Lands receiv-Owing to the uncertainty sur ing good support. The next trad-rounding the political situation, and

* January 18, 1933 20.20 ing day was featured by an entire the approach of the Chinese New High for 1831-33 Sept. 19, 1031 28.06 lack of interest on the part of both Year, prices in the Government. Low for 1031-33 July 12, 1032-10.99

LONDON STOCK EXCHANGE

(BRITISH WIRELESS SERVICE]

Neony, Jan. 31.

Paris New York

67.

3.301

Montreal

4.021

Brussels

24.415

Geneva

17.06)

Milan

8.9/10

Berlin

14.0/39

8.44

Stockholm

Copenhagen

291 nom. 18.42 22.7/10

Oslo

19)

Prague

1141

Athens ....

600

Bucharest

575

Belgrade

950

Madrid

41.7/18

110

926

5 nom.

BUTTERFIELD & SWIRE, Agents,

HONG KONG, CHINA & JAPAN.

1. ADDRESS: TAIKOUDER, HONG KONG."

TELEPHONE: 3411

L'all Flag: "C" Över "Any. PENNANT”.

. Amsterdam

Vienna

COMFORT AND SPEED

ACROSS AMERICA

on the

longest Electrified Road

"Travel eastward from Seattle on the shortest line between that port and Chicago-through magnificent scenery and in luxurious, ease.

The New OLYMPIAN

is fast, smooth, and clean-a de luxe train- with roller bearings and coil-spring mattresses insuring restful nights-pleasant companion- ship and meals by Rector making days a de light.

For further information inquire of American Refrais Travel Bureau, China Trand: Servies, Thos. Cook tử Son, your nearest steamship afici,ar ·

J. P. BAHL, dobrany Gen"] Patsanger Aust

CEO, B.. HATNES,

W. I DIZON.

Gemeal Parronger’Agentni, Passenger Traßi Manator

Chicago, IL

Lishon

Helsingfors

Rio Buenos Aires Montevideo Bombay Shanghai Hong Kong Yokohama South Africa

Silver (Spot). Silver (Forward) War Toan, 31%

EXCHANGE

414 O.R.

34 nom.

1/8 5/32

1/81 1733 1/2.15/16 2007/E1007 per £100 sterling. 17.1/16 17.1/16

CLOSING QUOTATIONS

ON LONDON:-

February 1, 1933.

Telegraphic Transfer... Bank Bills, on demand/ ,Bank Bills, 4 months".

sight

Credits,

sight......

ON NEW YORK:--

'ON INDIA:

ON SHANGBAL:-

On Demand

ON Kons

A

HONG KONG STOCK MARKET.

YESTERDAY'S OFFICIAL

QUOTATIONS

was doing this A little more morning in the investment section, there Going enquiries for Banks, Unions, Lands, Star Ferries, Elec tries and Telephones, but while a few parcels of these did change hands, they are not easily obtain able. In the minor issues, Lights, Cements and Hotela have had a setback, but Ropes were slightly | marked up, and closed still in re quest.

Halas,

Hong Kong Bankṣ, 81,600/1,700. Union Insurances, $550.

Telephones (New), $28/98).

H.K. Ropes, B11.

Dairy Farms, 8254.

Trading on the Shanghai Stock Market is of desultory proportions these days. As long as the market is unable to evaluate the clarifica- tion of the political situation and

DAILY SHARE QUOTATIONS

HONG KONG STOCK EXCHANGE"

******** $1,69

Do. (London)

SHAREBROKER

ASSOCIATION.

Baycru

Bellero

Bales

Nominal

- WEDNESDAY, FEBRUARY :'1,

Huyres

Jellery

Banka

$1,700

1,690/ 1,700

H.K. Banka

2119 £13 294

Chartered Banks ...

***

Mercantilo Bks. "A"

Bist

£9

Do.

$108

Bank of East Asia...

$108

N. O. & S. Backs 371

$20

Am. O, Fin. Corp:

M

1.6 T.4,50

China Flu.Corp. Ord.

Do.

Prof.

$349

2550

$620

Underwriters ***** Union Insuraİ3008 ... China Fires stienis

$1,380

$2.50

$545

$895

$311

› Insrancos $1,380 Canton Logarco,.

$1,350) H.K. Fires....................................

International Assos,

Skipping Douglases>>16 Steamboats

Indos (pref.)

$372 Benguets

***

$30

**

$291

345

131

Do dof.)

•18/$

Shell vérantee

B01.

$201

Waterboats.

47/.

Mining

**

29/9 Kailans - ******

14.20 Venezuela Gold Fids $3.5

318

T.

$11.80

16,8

T.6. Langkets (single)....... T2.10 Explorations..........

T9.30 Shanghai Lonas

Haubs.estitates Tronoh Mines · ·

$111

Pi

83 ate. Bengnet Explorations

Docks, Wharvon,

Godowns, ela.

8141

HE. & E. Wharros.

14.66

$1,90

Do.

Providents (old) " ...

(ue)

$143

4.70

$1.90

H.K. & W. Jocks..

820

10

S. China Motors!A

B1

T.90

Dio. Shanghai Docks

T6.20 New Engineeringa T.890 Hongkowe

Gandă, Hotals, and Buildings

-

Do. (LOW)

T.84 Shangbal Landa...

Metropolitan Lande..]

H.K. Realties...........

T11.40 Uhis Da

卡塔四百合野

1.991 Da Debenta:48

Humphroja

M$140 Asia Realtiss "A"..

Do. "B"

18.10

H

$8.30 $8.90

A.K, 'Hotels (old)

30 89.15

3771

H.K. Lands

T.10

$8 10

3151

M$25

Chinese Estates.....

Cotton Mill

Ewas im Ti3.95

T

Bhai Cottons.........*******

172

T1

Zoong Sings

$115 Wing On Textiles(S.)

3115

Public Utilition

$21.30 Tramways ..................... $31)

$1.29 Peak Trama (old)...

Da (new)...[

$16

Star Ferrice: 3888

] business prospects. confidant T13.95

strength can hardly be expected.

Buyers, Hong Kong Banks, $1,700.

Union Insurances, 8548.

Douglases, $30.

H. K. Steamboats, 822.1. Docks, 820.

Humphroys, $161.

HK, Realties, 88.10. -

Chinese Estates, - 805. --

Ewo Cottons, Tis, 13.05.

Star Ferries, 808.

China Lights (Old), #12.55 :ex

Div. & Rta.

China Lights (New),

Paid up..

198

$34 Yaumati Ferries(old) "43) Do (now) $31 dam, rights...$31

China Lights (old)...... *** Do. (now)...

Do

C. Eta ...

H.K. Elétrica

Bandakan Lights'... Telephones (old)....... Doa (now)... Chins Burea

Tractions

Do. (prel) **** *Industriali

Malabon Sugars

T.14 Caldbeck,((ard)

Muogregore praf.)

Canton less

Cements (comb.)...

Da

Hong Kong Lands, 977)..

$19,63 $19 ex dir. &ta

Ins 13 Plaid up

8771 $78

Sat

$12

to

|[8,28

T.10

2/-

• Kid By

12/

397

T.

36.

$10.90

$10.80

Sellers.

$7.90

(old)

Do.

(DOW

China Lights (Old); 812 ex. Div

& Ita

$134

Ropes $21.95

$7

Electrics, $79.

Cements (Combined), 810.90. Lane, Crawfords; · 85.40.

·3291:

$1

Der A Wings

SIE

are in

China Sports, 88... --

Electrics, $77

Telephones (New), $28 H.K. Ropes, $11.30. Govt. Loans, 3 per cent. Prem

NEW YORK STOCK EXCHANGE

Uh: Agricultures

· Miscellaneon :-

Dairy Farma $29,30

Amusement

$13.40 Ch. Ftainment*... $12

18.10 Constructions, (old}}

Do. (new)

$1.40

$5.40

Lane Crawford...

121

Mackintoahs .......

Nanyang Tobeco0...

・Sist

Sinceros

SIR

Watsons (old)

$11.40

19.36 $10

Wm. Powells

A.O.F.C. QUOTATIONS

(REUTEK'S AMERICAN HERVICE)

New York: January 31

Dow Jones Averages:

30 Industrials

20 Rails

High-1932" Low: Jan, 30 - Jan. 31

88.76 41.300

41.22 60.77

13.23 28.69

20 Utilities

36.11

40 Bonds

$3.26

18.53 97.16. 65.78.80.82.

Change 60.30:13 up 28.92 23 up 26.89 60.54

53 up 28 down

$6

$225

1. A. Fierce and Go, Report. The market is unchanged. We would avoid utilities, and also, following the strength of tobacco stocks. American Can appears to hold a strong market position. Trading hope still lies with rais. United States Steel has declared a dividend (preferred) of 50 cents. Business Done: 660,000 shares.

DIV. $ Low, P. Ex.

Canadian Pacific

$60

1932

HIGH

LAST SALE Jan. 30 Jan. 31

62

314

8.00, Air Reduction ******

4. months'

87

6.00 Allied Chemical & Dye

1,41

733 13772

4.00 American Can

·00

9.00 American Tel, & Tel......

104

104)

Bank Bills, on demand 918. Credita, 60 days' sight:. 98)

89)

44.

5.00 American Tobacco

00

18

Anaconda Copper Mining

ON PARIS

1514 283

4.C Auburn ...

Bank Billa, on demand 555

43

201

2.00. Borden Company

Credits, 4 months" sight 186

201

1.00 Chrysler Motors ....

Telegraphic Transfer..." Bank, on demand.

687

4.00 Consolidated Gas of NY

4.00 Drugs, Inc.'·

35

49

2.00 Du Pont de Nemours

30%

391

38

3.00 Eastman Kodak

59%

456 0% 8., Electric Bond & Share

∙171

On demand

80.40 General Electric

10

ON MANILA:

198 2.00 General Foods

On demand

78; 1.00: General Motora .....................

ON SINGATORE —

10

1,00 Gillette Safety.

On demand

32

1.20 International Harvester

178378.

221

ON BATAVIA:~~

20

07

On demand

4.00 Liggett & Myers "B"

Bog

ON SAIGON:-

13: 3.00 Loewy's Ino,

16:

10

Montgomery Ward

137

14

ON BANGKOR: ---

201

2.80 National Biscuit

On demand

145

ST PAUL

SOYKERIGNE, Bank Buying

2.00 Pacific Gas & Electric. .....

Pennsylvania Railway ....

Radio Corpa simps

"BAR FILERL; Per The 2000

19

1.00 Standard Oil Co. of New

Jersey Ma

of

0.40 Socony Vacuum Corpn.

1.20 Union Carbide & Carbon

20%

CHICAGO MILWAUKEE

MILWAUKEE RUA

Operating 41% of the slen

On demand

agreement. The, general conclusioa

that on the whole the zaduction of working hours

International Tel. & Tel,

Stars Abeback-

8.00 Union Pacião.......

United States Sterl Wastinghouse E. & M...

10(NOW)

M. Greyhounds...... 8. U. Enterprises ... United Theatres ... "B. Ind. G. Bonds, H.K. Govt. Loans, Wallace Harper China Sports Ltd. H.K Wing On S'hal Donny

CASES AGAINST NEWSPAPERS

(Continued from Page 9.)

$78

Press to injure reputations, and agree a that the law must be strong to enable a good character to be vindicated and to penalise, baseless imputations ⠀⠀But I know quite well how large a number of fraudu lent or indesirable persona, rema vided (a),, that the judge at the unexposed through the severity trial has a full and complete dis, the rules of law, with respec cretion as to costs, and (b) that defendants in cases of defamat plaintiff who desires to take money The public too often loses the out of court and end the action, protection it so greatly deeds. I should have liberty to apply to know also of the large trade that a judge in chambers for an order exists in seeking to extort damage that for special reasons the case from newspaper proprietors, and be mentioned in open court. The others in circumstances which are judge could then ascertain whether

the plaintiff genuinely desired to little better than disguised black- clear his character or whether he mail, a

was a mere trade in actions of de In the present case judgment famation. On the mention of a case must be entered for the defendants. in court the fudge could ensure. The defendants must have the conta that the true nature of the action the action as from the dater should be disclosed,

I venture, with diffidence November 20, 3031, when they manre

to their first payment into court, and

suggest that perhaps too narrow a they must also have the extra costs view. has been taken in various (if any) incurred by them in con judgments dealing with the law dr nection with the first and third at defamation, and that too little releged libels, which were abandon gard has been paid to changed con-led by the plaintiff at the trial dition and that too little atten. In view of thes tion has been directed to several do not, žeel justified, considerations of public policy stances before which might properly be urged by plaintiff of his those who are defendants in cases to November 30- of libel and slander

of costs in favour of

Extorting Damages

in

I recognise the power of the