1936-11-05 — Page 11

SPEED EASTWARD FROM SEATTLE IN

“SOLID

COMFORT”

ON THE

COMPLETELY

AIR CONDITIONED

Olympian

You'll enjoy a smooth, gliding swiftness, over the shortest route of longest electrification...its luxurious accommodations and friendly service...its sumptuous medis... its inviting beds ...the freshness of its air conditioned equipment.

You'll meet discriminating travelers who prefer to travel Milwaukee...you'll thrill to magnificent scenery. Include the journey between Seattle and Chicago on The Olympien as a part of your itinerary.

-

for further information inquire of your nearest slecn- skip office, any Travel Bureau, or

ERIC MARSHALL, Agent

102 Govt St., Victoria, BC,

F. J. CALEINS, General Agent

~297 Granellia 59, Vincorrer, EC

F. RANDALL, Dfat. Passenger Agent

4 Market St., Sex Francisco, Col.

Sestie, Washington

J. F. BAHL, AM. Gen. Passenger Agent

GEO. 1. HAYNES, Pam, Traffic Mar.

Chicago, Ill...

MILWAUKEE

ST PAUL

THE MILWAUKEE ROAD

CONSIGNEE NOTICES.

NOTICE TO CONSIGNEES

OCEAN STEAM SHIP CO., LTD.

AND

CHINA MUTUAL STEAM

NAVIGATION CO, LTD..

JONSIGNEES per Co.'s Vossel

GOATEEUS'

FROM UNITED KINGDOM AND CONTINENTAL PORTS VIA

SINGAPORE.

are baroby notified that their Cargo will be discharged into Holt'. Wharf, Kowloon, where it will lie at Consignese risk and subject to Terms and Conditions of Storage at Holt's Wharf. The Cargo will be ready for Delivery from Godown on and after 4th Nov.

Optional Cargo will not be landed here, unless Notice has been given prior to Vessel's arrival, but carried on from port to port to the final port of call to which the option ortends.

All brokea, chafed and damaged foods are to be left in the Godowns,

CONSIGNEE NOTICES.

SERVICES CONTRACTUELS DES MESSAGERIES MARITIMES,

CONSIGNEE NOTICE.

S.S. FELIX KOURSEL

26*A/36.

BRINGING CARGO FROM MARSEILLES, &c. ARRIVED HONG KONG ON FRIDAY, THE 30TH NOV., 1936

UNSIGNEES are hereby informed that their goods with the exception of Opiam, Treasure and Valuables are being landed add stored into the Go- down of Hong Kong, Kowloon Wharf & Godown Co., Lid, Kowicon, whence delivery may be obtained immediately after landing.

All claime must be sent in to me on or before the 10th Nov., 1936, or the will where thay

not be recognized. Damaged Packager will be examined will be examined on any Tuesdays and by the Companys Surveyor, Mesara, Fridays between the hours of 10.45 K Goddard & Doagias in the presence of and Noox within the Free Storage period the Consignees at 10.00 am. on Thurs

No Claims will be admitta after the day, 5th Nov., 1938. Goods bave left the Vessel's Godown and "all Goods remaining undelivered after the 11th Nov."will be subject to Bent

All Claims against the Vassal must be presented to the Undersigned on or before the 25th Now, or they will not be recognised.

No Fire Insurance will be flested.

BUTTERFIELD & SWIRE

Agenta.

•

4th November, 1938.

[4789

HAMBURG-AMERIKA LINE.

NOTICE TO CONSIGNEES.

8.8.

THE OLDENBURG'

Consignees must have a Revenue Officer in attendance when any dutiable goods are examined by the Company's Surveyors.

No Fire insursace will be effected by us in any case whatever.

K. OBL

Agent. Hong, Kong 30th Oct., 1916.

[4778

MADRID CALL FOR SERVICE

Salamance, Nov. 3. The Madrid Government broad- casting station uninterruptedly sent out appeal urging members of the Red Milltia to report at once at the Ministries for front line service.

having arrived from Hamburg and

Anxiety felt in official circles at Ports of call, Consignees of Cargo" are the capital are also characterised hereby notified that their Goods are by the fact that certain detach being landed and placed at their risk into

ments were ordered by radio to the Hong Kong Kowloon Wharf & proceed immediately to a monas- Godown Company's godawas at Kowloon, tery near Getafe aerodrome. where delivery may be obtained as soon as the Goods are landed.

According to the latest reports here from the Madrid front, the Nationalists troops captured the town of Pinto on "the Aranjuez Madrid road, after severe fighting. Transocean Nawr Beroses.

Optional Cargo will not be landed here, unless Notice has been given 45 hours prior to Vessel's arrival, but carried on from port to port to the final port of call to which the option extenda,

No Claims will be admitted after the Goods have left the Godowns, and all Goods remaining undelivered after the 7th Nov, 1936, will be subject to Rent.

Al broken, chafed and damaged Goods are to be left in the Godowas, where they will be examined on 6th Nov.. 1936, at 10 am, by our Surveyors, Messrs. Coddard & Douglas.

I

To comply with the General Bended Warehouse Begulations consignees must svo a Revenus Officer in attendance when damared dutiable goods are examined,

All Claims must reach us before the 30th Nov. 1986, or they will · not be recognized.

No Lavarence will be effected..

REBEL ADVANCE

Madrid, Nov. 3. The Nationalist advance from

the South continued to make tur- ther progress on Tuesday. They

1

HONG KONG DAILY PRESS, THURSDAY, NOVEMBER 5, 1936.

BRITAIN

MISSING OPPORTUNITIES

Trade Conditions In The Far East

"JAPAN'S

PENETRATION”

By Major The Hon. L. H. Cripps, C.B.E., of Messrs. Alfred Holt & Co., Liverpool (writing in

the British Chamber of Commerce JouPTIMI).

(Continued from Yesterday)

PHILIPPINE TRADE The trade of the Philippines is largely Japanese and American. Their prosperity depends entirely on their protected trade with Am- erica, which is really based on sugar. This is realized in the Isles, and every effort is made to con- ane purchases ar'far as 'possible to American goods, in order to per- suade America to continue the

indefinitely.

[1

· that

any

I point out

forecast which is made of the future can only be made subject to the poll- tical actions, not only of the coun tries concerned, but of the rest of the world. There is a rapidly growing tendency throughout the world for governments to control the import and export trade, as is done at present in Germany, Italy. Russia and Japan. In most cases this results in control of imports and subaidization of exports, which By peaceful penetration into the

does, in fact, unbalance the trade of countries operating on the old Philippines in exactly the

baxis (le., n system where the ex- way as in the Netherlands Bast Indies, Japan has instituted a trade porter is responsible for selling.

and the importer for buying goods), which is almost unassailable. She has established innumerable retail as it tends to destroy the exporter shops, which represent direct sup- who is in opposition to Govern- mentally subsidized tenders. It la to consumer, oly from factory through a very large number of just this tendency which must force us in the long run to consider whe- Japanese retailers, thus condning their purchases to Japan. They

ther we should follow this modern exist in every town, and in practi- symptom or whether we should cally every village, in the Philip- I give up our foreign markets and

Germany has only a limited amount of credit and China alone could absorb five or six times the amount of German credit avail- able. Nobody has ever made money without risking the loss of it and tew people would suggest that the hundreds of millions said to have been lost in the export trade in the past which in fact, has been lost by individuals, has not been of great benefit and great profit to the peo-protection of the Philippine groups ple of Britain. At the same time, the individual will not bankrupt himself

behalf of the nation. whereas it may be the duty of the Govern- ment to assist individuals to com- pete against the arrangements of are foreign governments. If we

to not prepared meet foreign methods of competition, we shall not only lose business but at the same time we shall lose the result- ing capacity to import; which would end in the bankruptcy bath of the Individual and of the coun- try.

01

pines.

same

In the Straits Settlements the JAPANESE SUPPLY

Improvement in the rubber and tin Japan is another Eastern coun- Industries and the very large in- try on which British industry has crease in European population has been forced latterly to focus its expanded the market of Malaya in attention. She is a typical in- every direction, and is bringing dustrial country with efficient and prosperity to the Straits. The rise economic methods of manufacture. in population has resulted from the It is inevitable that she will increase in defensive forces, and ultimately

the Eastern the constructional work necessary supply markets with textiles, earthenware, for these forces to carry out their cotton goods, bicycles. electric duties. The market is very largely cables, clectric lights. galvanized selling to the Empire under the iton and general household com- Ottawa scheme. The credits in modities. Doubtless she will also England are being used for day to develop the heavy industries. But day purchases; Malaya must re- her prosperity must depend largely main a good customer of England on the stability of Chira, Arising and the trade with England should from Japan's treatment, à distaste show steady expanston., A good for Japanese goods is at present cbservable in China. In the mean- time, she is penetrating other markets of the world. but, fortun- ately for England, her consuming power of foreign goods, other than raw materials, is not very great. and the credits of foreigners in Japan are small, which limits the amounts of goods which Japan can export.

INCREASING HER CREDITS Japan is concentrating on in- creasing her credits in shipping and instirance, which will naturally Im- prove her exporting capacity by a further collection of foreign cur rency. But such methods are like 17 to follow the trend of world trade, and can in no way, com- pensate Japan for the loss of the Chinese market, which is absolute- 17 vital to Japanese thdustry. Over the last thirty years Japan has de- veloped a system of heavy import duties, and, in some cases, complete exclusion, and it is only natural that the rest of the world will fol- low Japan's example just so soon as she attempts to force her ex- ports on a country or Continent which prefers to supply her own needs, as Japan has done in the past

deal of raw material, especially copra, is being diverted to India, which will lead to an expansion of the trade between Malaya and In- dia.

DUTCH EAST INDIES The Dutch East Indies is one of the few countries in the world have played the "gold which game": that is, they have made a real attempt under the old gold standard system to deflate their currency so that, "vis-à-vis" ster-. ling, it may come into balance. In my view, that balance, say G.7.50. to the £1, should become effective early in 1937, and as soon as de- fation is operative, trade with Europe should extend substantially.

Her trade with Asia is balanced, while her exports to Europe are more than twice her imports from Europe. Any improvement due to currency deßation should tend to balance trade with Europe. There are no signs that Asia will be able to extend her imports from Java materially, and this must of neces- sity limit Asian exports to Java.

The old gold standard system ran only be used in countries where labour is unorganized, as is the case in

the Netherlands East Indies. Deflation, as we know it, consists Free trade in exports can only chiefly of reducing wages. In due operate provided that there is free course, this reduces the cost of ex- trade in lmports. Such conditions ports in the country concerned and presuppose a currency based on makes them more attractive to the supply and demand and not a rest of the world. In those coun- managed currency. One half of tries where labour has been or- every transaction in import or ex-ganized over the last fifty years It.. port is based on currencies, and has become impossible to make the free trade can only function pro- necessary wage reductions, and vided those currencies are based on attempts at deflation have result- their supply and demand value in ed in widespread unemployment. international trade; otherwise, by This has been adjusted by the a careful manipulation of currency, creation of artificial work one country may be ruined by an- prove employment, thereby de- other. At present Japan is not liberately defeating the attempt at prepared to recognize these first deflation. principles and must, therefore, meet | IMPROVEMENT IN CONDITIONS My own view is that the Nether- with import duties, quotas ur com-, plete exclusion. No doubt experi-lands East Indies will, over the next "ence will teach her that free trade eighteen months, be esponsible for implies the willing interchange of substantial improvement in world goods and not, as she appears to conditions, through its rehabilita- tion in world markets and think, the collection of foreign cur-

capacity to operate rencies by exports while refusing its

1,

a sterling baxis: I imports.

TALK ABOUT WAR

Anxiety Expressed By Lord Halifax

to fra-

on

must

undesirable. If the world had learnt nothing else, it was surely that there would be no victors or vanquished and both would suffer a common calamity. The situa tion was certainly difficult but by no means desperate.

If there were goodwill and de- termination towards peace gen- erally-if that were present in the minds and hearts of all the nations

London, Nor; 3. Replying to ne debate un the captured the town of Villaviciosa address in reply to the King's | and Mastoles and now hold a line speech at the opening of the new extending from Pinto on the Aran- session of Parliament, in the House dificulties should not prove in- of Lords this evening, Lord Halifax | superable in the pursuit of peace. Juez Road to Villaviciosa.

He hoped it would be possible at' referred to the general anxiety re- garding the international situation. an early date to reach an under- They had heard in a many quar-standing on the basis of the tradi- ters, a great deal of talk about war. tional relations with Italy, and to He wished on behalf of the Gov-remove ernment to say quite frankly, such which existed.---

was both dangerous and British Wirelin

• The bridge across the River Guadiano which had been blown up by the Reds, has been repaired Bill of Lading will be countersigned by by the Nationalists Engineering

TERSEN & 00.

Corps within a comparatively short Agnia.

while. Hong Kong, ist Nov, 1938.

Pranistean News Suriana.

14788,

talk.

the "misunderstandings

confine ourselves to our inter- colonial trade. At resent our con- suming power of surplus" foreign crops would give us a pre-eminent position in any international bar- ter trade. Practically no great agricultural country could axord to lose our market and would, in the long run, be forced to accept our manufactured goods in ex- change for their surplus agricul- tural produce, which would other- wise remain unsold under the existing conditions of other, coun- tries remaining or attempting to become self-supporting. The Im- position of import duties must, in the long run, destroy the power to export and tend to reduce world trade and dislocate manufacturing centres in some countries by for- cing the agricultural areas to make what they really need, as they are prevented from exchanging their surpluses by import restrictions put into operation by their old clients.

Clioruot

11

Vouve

Chiequist

Sole Agents:- DODWELL & CO., LTD.

HONG KONG BENEVOLENT SOCIETY

for Boys and Girls

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Our needy children must be fitted

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Help us to help them.

•

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•

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