1933-02-22 — Page 14

12

Imperial

RIGHT THROUGH

Imperial

BRITISH DESIGN

LABOUR

CAPITAL MATERIALS

The "Imperial" is designed and made in England by people who understand English_requirements. Foreign made typewriters, imported from countries using the metric system, lack such typically English signs as "". The "Imperial" keyboard has six'extra characters just those symbols which the English typist has always needed but never possessed.

In construction, the "Imperial is a "sound British engineering job"-with all that the phrase implies.

REISS, MASSEY & CO., LTD. 7, Queen's Road Central, Hong Kong. Telegrams: "JOSSTREE."

The SPALDI

The most durable golf ball ever many* factured, a single round will demonstrata its outstanding features a dozen will convince you of is durability, whilst the makers' guarantee for 72 holes is evidence that you will be getting "the" most economical golf ball obtainable.

Obtainable la Multicet or Plain Marking.

HONG KONG DAILY PRESS, WEDNESDAY, FEBRUARY 22, 1933.

MONEY

AND MARKETS

NEW YORK STOCK EXCHANGE

A.O.F.C. QUOTATIONS

[BIUTER'S AMERICAN SERVICE]

Now York: February 20

Dow Jones Averagest High-1933

Low: Feb. 18

Feb, 20

30 Industriale

88,73

41.22 58.04

20 Rails

41.30

13.23 26.81

20 Utilities

36.11

10.33 $4.09

40 Bonda

83.26

- 65.78 78.51

93,03 77.89

Change 54.28 · 1.78 down 25.00 .82. down .66 down .6% down

E. A. Fieres and Do. Report. Liquidation is still present and we would

not attempt to anticipate its completion. Silver rules strong on Wash ington news that the House Sub-Committee would report this week to the fall committee on the so-called Silver Coinage Bill. Despatches claim that the Bill has a fair chance of passing the House. Business Done: 880,000 shares,

--18--21

PARAMOUNT PUBLIX CORPORATION

HISTORY AND BUSINESS

$1 and 5% in st. High and low prices of common stock:

1932-33 High Low

FLEETS OF THE WORLD

No Reductions In Sight

BRITISH CRUISER PROBLEM

of

U.S.-BRITISH-WAR DEBTS

SIR R. LINDSAY CONFERS WITH MR. ROOSEVELT

{THEÒTOU REUTER'S AGENOT.]

After the interview Mr. Roosevelt issued a statement saying that Sir Ronald Lindsay had given him, unofficially, the views of the Bri- tish Government, touching on the broader aspects of the World Eonomic Conference and other

matters.

The conversations will be resum- ed at an early date.

LAUNCH AT TAIKOO DOCKYARD

DETAILS OF THE S.S,

HOT HOW

LONDON, Feb. 21. SIR Ronald Lindsay landed from February 21. "At the end of the year in which noon and immediately had a two- the liner Majestic this after- Paramount Publix Corp. was in there was held the first. Inter-

hour conversation with President. corporated under the laws of New national Conference on Disarma-Elect Franklin D. Roosevelt. York on July 19, 1918, as the ment the nations showed no imme. Famous Players Lasky Corp. On diate intention to reduce their sea April 1, 1927, the name was changed forces. Although praposats for from Famous Players Lasky Corp limitation were both numerous and to Paramount Famous Lasky Cor- varied, the task of reconciling them poration, and on April 24, 1930, into an agreement satisfactory to name was again changed to its pre-even a majority proved insuperable. sent title. The Corporation and its "As the needs of each country subsidiaries are engaged in the pro-for national defence differ, so did duction and distribution of motion the degree of importance which pictures; theatre operation. Oasach attached to the particular, late figures, around 1,200 theatres arms or standards of strength. Nor in United States owned, controlled did the events of the year tond to or leased by subsidiary and affili. support the assertion that arma- ated companies. Theatres operated monts are the primary cause in nearly all principal foreign | war. There was unrest in many countries through branches and parts of the world..... subsidiaries:

In these circumstances, it is Dividends. hardly to be wondered at that Gov. .83.41-9/3 ernments were reluctant to ex-

3.00

change the substance of their tried. 4.00

means of defence for the shadow of reliance upon international agree

On Monday afternoon there was ment, especially when history shows taunchest from the Taikoo Dock- so many oxamples of the disregard yard the finely modelled steel scrow.. of paper pacts."

steamer. Hoihow built to the arder The truth of this opening pera of the China Navigation Company, 1931 High Low graph of the proface to the 44th Limited. Designed for passengers 501 51 issue of "Brassey's Naval and nud cargo, the vessel is 209 feet in Shipping Annual will hardly be length on the load water line, 44 Comment.

disputed, and the subsequent chap-fact in moulded breadth and feet Under the combined influence of tors in the Naval Section which diminishing earnings and the neces- deal with British and Foreigh Na in moulded depth, with a gross

tamage of 2,950 tons, and sity of meeting stock repurchase vies will be studied with consider-every way sister ship of the obligations, Paramount arranged, able disquiet.

Hunan, which has recently been In the chapter dealing with complaced in service. in April last, for an open line of credit aggregating between 813,000,- parative naval strength, the cruiser 000 and $15,000,000. Certain film position of this country at the pre- assets wore pledged as collateral sent moment, and in 1838, when for the lonn. Not only has this present Naval Treaties lapse, is as action resulted in the injection of follows: banker control, but has saddled the company with a considerable total The of short term indebtedness. cost of motion-picture production was cut 31 per cent. from January 1, 1302, while salaries of all execu- tives were reduced 45 per cent. To those who consider that Great Paramount Publix 'Corp., one of Britain has been laggard in disar the largest real-estate owners and mament the following figures should operators in the world, has just act as a corrective. Since 1913 the completed a survey of 1,011 domes British Navy has been reduosd as tic leases involving an annual follows: Battleships from 69 to 15; |

The New York Sun recently pub- rental of.817,100,000. That work cruisers from 108 to 50; destroyers lished a rather alarmist report of has resulted in a rental reduc from 283 to 117; submarines from the British Government's intention tions amounting to approximately 74 to 23. Reckoned in total ton

1938 Hion Low

Div. & PER. SH.

BRAINS

821 318

3.00 Air Reduction

LAST SALE Feb. 18 Feb 20.

$55 $334

·87+

73

293

6.00 Allad Chemical & Dye 4.00 American Can .....

773

TDA

561

53

137

71. 0.00 American Tel. & Tol.

101A

100

Avt

44

18

5.00 American Tobacco," B

Anaconda Copper Mining

321

07

03

1511

4. Auburn

415

90

431

20

9.00 Borden Company

203

201

Canadian Pacific

9

97

Years, Totni Assetà,

100 Chrysler Motors

10%

1039 $170,031,704

68)

4.00 Consolidated Gas of N.Y,

478

1020

230,710,407

57

1.00 Drugs, Inc.

35

34

1920

306,209,150

2.00 Du Pont de Nemours

245

1031

299,304,108

876

3.00 Eastman Kodak

69. Electric Bond & Share

143

45

20

0.40 General Electric

132

40

198

2.00 General Foods

བ

249

1.00 General Motors

192

1.00 Gillette Safety

143

322

1.20 International Harvester

163

10

148

International Tél. & Tel.

$Y

32+

US 30% 10 46%

4.00 Liggett & Myers "B"

51}

51

3.00 Loew's Inc.

TAA

1.13

Montgomery Ward

11.

101

20%

2.80 National Biscuit

31

33

37

2.00 Pacific Gas & Electric

26)

232

Pennsylvania Railway.....

17

16

Radio Corpn.

33

Sears Roebuck

16

131

1.00 Standard Oil Co. of New

Jersey

211

12!

0.40 Sorony Vacuurn Corpn. ......

暖

369

1.20 Union Carbide & Carbon

211

201

044

2.8

6.00 Union Pacific

71}

632

522

434

United States Steel'...... Westinghouse E. & M. A.

201

28

25%

201

JAPANESE STOCK EXCHANGE

For Perfect

Flighet

Guaranteed for 72 Holes.

A.G.SPALDING & BROS. (British) LTD.

EXPORT DEPT

78 CHEAPSIDE, LONDON.E.CZ.

5.F $1.

Hong Kong Weekly Press

Communism in China

Bernard Shaw in Hong Kong

Local Companies

Resume of Sport: :

Cricket, Football, Golf, Racing, Tennis Yachting.

and

Other Interesting Features.

THE PAPER WITH THE YELLOW COVER

Price:-30 Cents.

Annual Subscription: Hong Kong, $13; Post Free to

818 Quarterly Subscription, 84.50.

(Continued from Page 11.)

from naval quarters.

03

to

HONG KONG STOCK MARKET.

YESTERDAY'S OFFICIAL-

REPORT

1033.

1033.

Ships under age

43

32

Ships over ogʊ, ...................

A

19

51

30

Total Diminished Reserves.

is in

The Hoihow will run it trials carly in April and be placed in commission immediately after com- pletion of trials.

U.S. FLEET AND SINGAPORE BASE

ALARMIST REPORT IN U.S. NEWSPAPER.

However it is no secret that the

83,000,000, of which $1,100,000 is nage, by the end of 1930 the Navy to offer America the use of the applicable to 1932 islands figure prominently in the

The corpora of the British Empire will have Singapore base for warship repairs. Davy's plans for dominance of the

There was more attention paid tion proposes to provide reserves been decreased by 47 per cont.; that It is alarmist because of the present western Pacifio and the strongest to markets this moming than was

for revaluation of fixed assets as of of the United States of America touchy relations with Japan, and because if the offer was made it. irsistence on their retention comes to be expected, a demand having April 3, 1992, which will be charged many have been increased by 29

thorities to strengthen their Asiatic Admiral Osumi did say that sprung up for Hotels, Lights and against a capital surplus created por cent.; and that of Japan by would enable the American naval au- Japan is not fortifying the islands Cements, all of which close a shade by changing the common stock from 37 per cent.

no par value to 310 par. Receivers The position of personnel and re fleet to a point which would make now nor building submarine or air better than at the opening Session.

in equity for Paramount Publix serve is serious; Japan, 80,000; operations against the Philippines Buyers.

Britain, bases there, and added that Japan

Corp. were asked in a suit filed in Great

91,410; United by ef hostile power tu vory hazard- will continue to observe faithfully

the Federal District Court in New States, figure does not include ous undertaking. At present the York, which also asks the removal 11,886 professional man-of-war's American fleet in Asiatic waters is her obligations under the Washing- further ton naval treaty not to

of the Chase National Bank as men in the Coastguard. The posi- composed mainly of obsolescent trustee of the $14,000,000 € portion of reserves is worse: U.S.A. cruisers and destroyers with a few. fortify her outlying Pacific poeses-.

cent, 20-year sinking fund bond 2,508; Japan, 50,000; the British modern type submarines.. There nte no battleships Manila having no ime of the corporation. The suit Empire, 33,806,

facilities for them.

sion.

Refuse Return.

Responsible government leaders have avoided making direct state- ment concerning the future of the Pacific mandates-the Carolincs, Marshalls and Mariannes--but sc. cording to one of the leading news- papers, the Tokyo Asahi, Count Yasuya Uchida, the foreign minis ter, at a recent secret session of the House of Representatives declared withdrawal from the League would not affect possession of the islands. The Japanese press has been pub- lishing numerous statements attri- buted to unnamed officials setting forth elaborate arguments to justify refusal to return the islands to the suzerainty of the League.

The Tokyo Nichi Nichi quoted at great length a foreign office argument to the effect that the Cb- Venant of the League does not specify that a mandatory power must be a member of the Langue, citing the fact that a mandata over Armenis was offered to the United States after America had rejected |・ the League and the Versailles set- tlement

Secret Treaties.

Douglasen, $30). HK. Steamboats, $29. Chinese Estates, 895... Star Ferries, $89, HK. Electrics, 874. Govt.-Loans,-4% Prem.

Sellers. Shanghai Docks, Tls. 06. China Lights (Old), 811.10. Telephones (New), 896), Constructions (Old), 85.

LONDON STOCK EXCHANGE

[BRITISH WIRELESS SERVICE]

Paris New York Montreal Stockholig Copenhagen

Brony, Feb. 20,

971 3.441

-4.134

18 15/16 997/18

·Oolo Prague

Brussels Geneva Amsterdam Helsingfors Madrid Lisbon Athens... Bucharest Berlin Milan

19.54 1154

24 17/32

17.70 8.52

413

110

005

1580

14.301 671 30 nom.

5|| nom. 4140.R.

Vienna Belgrade Rio... -Buenos Aires

Montevideo Bombay.... Shanghai Hong Kong Yokohama Eouth Africa

This argument admitted that it was Japan's responsibility to ad- minister the islands in accordance with the provisions of the League's | runndale, making an annual report! concerning them to the Geneva or ganization. If Japan should secede From the League, it was stated, these reports would be continued.

Another article in the Nichi Ni chi declared that it was the Supre- ine War Council of this Allies, in May, 1919, that distributed for mer German possessions among the Allied Powers in accordance with the soret agreemente aubsisting among them, all this before the Lea-Silver (Spot)

Silver (Forward), gue came into being

War Loan 31%

33 nom. 1/65/32

1/8) 1/34 1/21

997/1007 per £100 sterling 16 15/16 17.

001

Along this line there is a fre quently quoted argument, credited both to the navy, and the foreign office, that the Pacião mandated is lands are actually Tupta's rightfulled at 1p.m. today following a sensational collapse in prices, bas- spoils of war, and that the man. dates system was a pretenser bovered on developments at Geneva

The exchanges will remain close

ing actual annexations, evolved at the time that he dominant posi ed indefinitely.e tion of the altruistic Woodrow

Bears took advantage of the nows

Wilson made it impossible for us from Geneva that the committee of to call things by their real names,19 had accepted the sub-committee's E36 RADYO gonggoloccatosti ment, report on the proposed settlement

Manchuria, sharply antagonistic to

bear, raidvaleo

pered be fact that thems

also asks that the court declare the The Annual reminds us that the full amount of this issue now due question of personnel is outside the

Hong Kong Precedent. and payable to bondholdere. Im scope of any Treaty, so that our mediate payment of the bonds is dangerous weakess in trained sea- But the reported offer is not quite so sensational as it reads. While asked on the grounds that the terma men is entirely self-inflicted.

violated of the indenture were

Mr. G. H. Hurford points out primarily a strategic base, there is when, on June 28, 1920, Paramount the ironical coincidence that just no reason whatever why American, Publix declared a cash dividend as the battleship fleets of Great Japanese or any other warshipa to stockholders amounting to Britain, United States and Japan should not be repaired there. The $3.151,514, although Paramount are being scaled down under the Hong Kong naval yard, for in- had sustained losses of $10,000,000 London Treaty of 1930, competi-stance, has frequently undertaken is purchasing stock of subsidiaries." tion in capital ships is resumed be- such work for foreign vessals, both This payment of dividends, it is tween France and Germany. warships and mercantile marine, charged, reduced, the, consolidated The Merchant Shipping section and Singapore will doubtless per working

and current assets of covers a wide field. Mr. Cuthbert form the same servicos (for the same Paramount and its subsidiaries to Maughan, in an interesting chap charges) and be glad to do so. less than two times the current ter on shipping policy, deals with liabilities, thus violating the terms the subsidy plague at considerable of the indenture..

length and he shows the havoc it has wrought on British shipping

HONG KONG BANK'S DIVIDEND

"THE TIMES" COMMENT

From the City Notes in The Times:-

GIBRALTAR

THE TUNNEL SCHEME PENDING

The cabled dividend announce.

Nauen, February X-Madrid: The ment of the Hong Kong and Shang Home Minister declared in & Press hai Banking Corporation for 1832 interview that the work of the makes a very favourable impres commission entrusted with the tack sion. The final dividend is a per of preparing plans for the construc share, making £8 for the year, the tion of a tunnel under the Straits same as for 1031, while the amount of Gibraltar was making good hood. written off premises is increased

from $500,000 to $1,500,000 and the way and he was confident that the balance

carried forward is gigantic scheme, which marry still $3,430,000, against $3,491,511, Thus consider Utopian, may be realised in a year of generally poor trad sooner than expected-Trans-Ocean

Service, ing conditions in the Far Eastern countries the bank's profits would appear to have shown improvement. In 1931 proāts reduced, and at the general meeting the chairman ascribed the fall to exceptional losses arising from th heavy drop in commodity pricm, the sudden rise in the China -ex- change which was caused by: steri ing departure from gold, specula tion, and over-trading.

In the event of America being engaged in war, however, the posi tion would be entirely different, the stay of a belligerent warship in neutral port being restricted to 24 houra The only circumstances un- der which Singapure could continue to repair American warships in time. of war would be if-Britaẩn was ab ally,

EXCHANGE

CLOSING QUOTATION'S

February 21, 1992, ON LONDON:

Telegraphio Transfer... Bank Bills, on demand Bank Billa, 4 months

sight ............ Credita;4 months'

"Right"

Ox New York;—

}1/2

Bank Bills, on demand 221 Credits, 60 days sight: 289

were materially ||AMERICAN ORIENTAL: FIANCE || ON PARIS —emand 561)

A Job?

onsült WANT ADS

CORPORATION

COMPLETE

SERVICE

complete brokerage service for New York Stocks

Agents

ocal

Asia Lands Limited

Bank Bills, on

Credits, 4 months' sight [02] |OR INDIA —

Telegraphie Transfer. Bank, on demand

ON SHANGHAL 20

"On Demand

ON KOBE:

* On demand.

ON MAXILA

On demand

· ON: "SINGAPORE:

On demand ON BATAVIA 256 On zdemand

1810/18