1937-11-03 — Page 2

YES! You can "match your knitted sweater, hat and scarf with a fabric - if you make them all with ""Viyella" Knittings the yarns that match

Viyella Thirty-Six

"Viyella Thirty-Six" is woven from the same yarn as Viyella" Knittings and dyed in the same, dyes. It's good for sports clothes in tartans, plaids, checks and plain shades! 36 inches wide.

Ideally suitable for "Autumn and Home Leave Frocks.

•F, it washer

shrinks."

DAY

No. it never

NIGHT

WEAR

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ARGISTERED TRADE MARK

Banish That

Persistent

COUGH

THE quickest and most effective

cure for persistent coughs and colds is to take Peps breatheable tablets. Thay also overcome voice strain and banish coughs' due to throat weakness,

Dissolved in the mouth. Peps give off rich, medicinal essences. These mix with your breath and come' into direct contact with the irritated air-tubes. Peps soothe and heal your throat and larynx. They clear the bronchials of conges tion, phlegm and soreness, and stop

I.E. 1333.

the worst cough or cold, Pepe strengthen and protect your chest and

lungs at all times.

"

Take

Of all first class stores throughout the East. If any difficulty please write Wm. Hollins Co., Ltd., Viyella House, Nottingham, England.

Look for the Name on the Selvedge

TAPHI

Te preserve the concentrated essences which Pepa soniais rury tablet sa woopped in aliver paper. They are packed in sealed giaza bottles, along with full printed directions in leading lanewars. at any medicine dealer,

PEPS

Breatheable Tablets

Loose Hairs

·HONG KONG DAILY PRESS. WEDNESDAY, NOVEMBER 3, 1937.:

WHITHER FINANCIAL

CHINA?"

Interesting Address At Rotary Club

Dr. W. Y. Lin, an eminent au- | standard. Fears were also felt of thority on Chinese currency and an imminent inviation or a cur- Anance, and an author of many books.cm that subject including "China Under Depreclated Silver" and "The New Monetary System of China" and for the past three years the financial expert of the National Economic Council the National Government, of the re- public of China, gave an interesting talk at the weekly Rotary Club meeting, held at the Hong Kong Hotel yesterday.

Dr. Lin chose as his subject "Whither Financial China," and He said..

|

THE RICE MARKET

Sharp Drop In........

Prices

The Jatt Niyom on October 8, said that the price of Siam rice has fallen by a dollar per pleul in. both Singapore and Hong Kong. as compared with the correspond-

rency which was cut loose froming week in the previous month. the metal anchor; and scepticism was frequently voiced as to the competence and ability of the monetary authorities to institute and exercise measures of monetary and credit control. The "paper currency has been widely accepted everywhere throughout China and the rates or exchange have been held remarkably stable. The new currency has, therefore, worked well and, in fact, better than was generally anticipated.

In the earlier part of Septem- ber. that paper bays, Slam rice fetched $6 to $8.55 per picul in Singapore, and $11 in Hong Kong. These prices apply to the grade known as extra Super-Special.

CREDIT CONTROL Successful as has been the new

currency, we were not oblivious of the necessity of perfecting the mechanism of credit, control A Commission. of Experts was ap- pointed in early 1936 to examine and report on the problems of the reorganization of the present Cen- tral Bank of Ching into a Central Reserve Bank to be owned prin- cipally by the banks and the gen-

It may not altogether be out of place to examine the future of the Chinese currency and finance as a result of the present, hostilities. Will the Chinese dollar follow gradually and yet, Inevitably the path of the mark or the rouble? Will the Chinese banks be loaded up with frozen assets and a highly inflated credit 'structure? And will the Government finances be faced with a huge deficit and.eral public so as to be independent consequently will the Government of political influences.

other credit suffer? In

words, whither · financial China? These are at least to my mind, the most Interesting and vital questions the; answers to which with have great bearings.not only on the future of China but also on Hong Kong with which we have cultivated and maintained such an intimate com-

mercial and financial relationships over the past century.

NO STATISTICS

So much for the machinery of credit control. Significant pro- gress has been made in the nation- al unification of the currency. Szechuan adopted the national dollar in 1935. Yunnan-stabilized her local currency at the rate of 2 to 1 in relation to the national dollar in last May and was follow- ed by Kwangtung in last June at the rate of 1.44 to 1. For the currency of Kwangst, an attempt was made to maintain it in the neighbourhood of 21 in July last." These provincial currencies were notoriously chaotic and dis

About the middle of last month the price in Bangkok of such rice being exported was Tcs. 6 to Tes. 8.50 per picul; and now it is only. Tes. 5.55. This reduction has been going on gradually, and rice mer- chants are afraid the price will get lower yet. The price of paddy is also falling of course.

The fall has surprised and alarmned rice merchants and rice- millers, as they rather expected a rise in price owing to the trouble in China. ("Bangkok Times")..

VILLAGE ROAD BURGLARIES

les residents appeared as com- Three Village Road, Happy Val-

plainants and gave evidence be- fore Mr. W. Schofield at the Cen- tral Magistracy yesterday when the committal cases "against Lo Wah-so, unemployed, were con- tinued. These were Mr. Law. Cho- chin, of the Junior "Technical School, residing at No. 16 Village Road first, floor. Mr. Lau Sum-

Po. of No. 56 Village Road, second wah, editor of the Tal Chung Yat

floor and Mr. John Lyle, mine manager, living at No. 22 Village Road Arst floor. All were the owners of money and property which defendant accused of

In the exposition of my theme to-day, I shall, not trouble you with detailed statistics. I shall present to you the broad tendencies in the period prior to the present con-turbing. To bring them into a de-leged burglaries at the above ad-

flct and Investigate the actions so far taken by the Government in financing the war and the actions they have so far avolded. The fa- ancial outcome, no less than the political, depends largely on the duration of the war and its out- come.

finite relationship with the na- tional dollar and to set a time limit for their eventual withdrawal testifies well for currency as well as for political unity, and as such, is no small achievement Indeed.

INTERNATIONAL FINANCE

In the held of International fin- It was exactly two years ago, on ance no less progress has been November 3. 1935, that chinâ made in the rehabilitation and im- abandoned the sliver standard and provement of Chinese credit adopted and attempted to operate standing abroad. The successful a managed standard with the operation of the new Monetary stability of foreign exchange as the system and the added confidence primary monetary objective. The which it inspired and, more parti- circumstances leading to the break-cularly, the readjustment of a down of the silver standard was the logical and inevitable outcome of a deflationary crisis, brought about in part by the depreciation of-the principal-currencies of the world and, in particular, by the efforts of the American govern- ment in "doing something for silver."

At the time of the change, con- siderable doubts ware expressed re- garding the success of the paper i

·LOCAL CRICKETER

FINED

having stolen in the course of al-

dresses.

Evidence was also given, by the Chinese detective who arrested défendant and by various pawn- brokers with whom certain of the stolen articles has been pledged, and the defendant was committed to stand his trial at the next Criminal Sessions on all three counts.

Detective-Inspector W. N. Dar- kin prosecuted.

·POLICE REPORTS

series of Government, and railway

Ip Hau, 25, was removed to the loans have resulted in a ràpid Kowloon Hospital suffering from advance in the quotations of Chin-concussion, when he jumped off ese obligations abroad. Partly as the second floor of Kee Heng tea 1 result of the Improved credit shop at No. 215 Shanghai Street. standing and partly because of the His condition is serious. personal efforts of the Minister of Finance. Dr. H. H. Kung, a number of foreign credit in various forms totalling many millions of dollars

(Continued on Pare"10)

MUL-TSAI FROM CANTON

Mrs. P. A. Neill, of Peninsula Tse Ki-yan, 55. married woman, Hotel, was cautioned for parking | residing at '49 Lec Garden Street, her car in Pedder Street beyond ground floor, was cautioned by Mr. the time limit of two hours

R. A. D. Forrest at the Central October 18.

On

A. R. H. Esmail, the popular local cricketer, was fried $2 for a similar offence at Chater Road on

On Brush or Comb SPELL October 20. He pleaded that he

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had asked Messrs. Dodwell and Co., to remove the car for repairs. but they had apparently failed to do so, as he found a note stating, that he would be summoned the next morning.

P. Brown, of Union Motors, 14 Caroline Road, summoned for al lowing three unlicenced vehicles to be in a public roadway so as to cause an obstruction, was fined $10. The three lorries were found parked in Pennington Street, Be pleaded that the vehicles were old, and would not be relicensed again by the police.

Traffic Bergeant A Bethell said the summons had been taken out on the complaint of the Sanitary Department, as it obstructed them

CREMEX SHAMPOO in cleaning the streets...

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LOCAL ESTATE

Magistracy yesterday when she admitted having had in her cus- tody on Monday an unregistered mul-tsal, Wu Ngan, aitas Loi Hi,

aged 13.

Inspector H. W. Fraser, of the, Secretariat for Chinese Affairs, said the girl had been brought down from Canton by a relative of the defendant and had con- tinued to stay with the latter when her mistress returned to Canton. She had been well treat- ed.

In another case To Lal-fong, 20, married woman of 97A Wellington Street, first floor, was fined $100. Inspector Fraser said the circum- stance here were different. On October 31 a 14-year old girl had reported at Central Police Station that she was, a mui-tsal of the defendant and had been assaulted with a piece of firewood. seen, the girl was dirty and not too

well clad.

When

STILL MORE WOLFRAM ORE CASES

Caught coming off the BB. Kong Ning at the Hoi On Wharf, Con- naught Road West, with 14 lbs. of wolfram. one which had not been manifested. Chan. Yau, 30, unem-

Ho Tong ahun, allas Ho Tong Son, broker, late of No. 2 Arbuth not Road, who died on July 22, 1937, left local estate to the value of $1,200. A petition by Ho Ng Bhi, widow, of the same address. for grant of probate of the will of the deceased according to the ployed, was fined $10 by Mr. R. tenor thereof has been granted by Edwards at the Central Magistracy: the Supreme Court,

yesterday.

Sub-Inspector Edwards of the Police reported that he knocked down Leung Ching, 58, at Con- naught Road Central, near the Canton Wharf. Leung was run- ning across the road. He was taken to the Queen Mary Hospital for treatment for head injuries.

Ching Yat-long, licensed lorry driver, reported to the Police that he knocked down" Chan Piu, 54, at Des Voeux Road East, near the Naval Depot. Chan received scalp the injuries and was taken to Queen Mary Hospital ..

Mrs. C. Branson, of No. 371, The

Peak, reported the loss of a bas- ket, containing clothing. from, her car No. 4146 while it was parked 'near the St. John's Cathedral.

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