1939-03-11 — Page 11

HONGKONG DAILY PRESS

Finance and Commerce

OPTIMISM AT MEETING OF CHINESE GOVERNMENT'S PURCHASING COMMISSION

LONDON, Mar. 10 (Reuter)-The annual meeting of the Chiri- ese Government Purchasing Commission was held yesterday af- ternoon at the Chinese Embassy. Mr. Quo Tal-chi, Chinese Am-

were: Sir .. bassador to Britain, presided and the others present Ralph Wedgwood, Mr. ÅR. Gukaness, Mr. "C.A. McEuen, Lord Riverdale and Dr. C.C. Wang.

A happy spirit of optimism per- vaded the meeting and the Ambas sador was warmly congratulated on

ADVERTISEMENT

CHINA AUCTION ROOMS

PUBLIC AUCTION

The undersigned has received instructions from the owners to sell by Public Auction on TUES- DAY, 14th March. 1839, at 11 a.m. at the Sut Heong Yuen Godown, Nelson Street. Mohgkok, Kowloon. the undermentioned goods:—

Iron Rivets-Manila Ropes- Steel Snatch -Blocks-Steel Blocks, Single, Double and Triple Sheave Wooden Blocks, Single, Double and Triple Bheave-5-ton Cyclone Block-Siedge and Ma- Rope Hammers-Steel chinist and Chain-Iron Shackles-Wire Clips, Camps and Thimbles-- Foundation Bolts, Eye. Riveting

the completion of the Currency Stabilization Fund,

A. S. WATSON & CO.,

LIMITED

The General Managers and the

Directors of AB. Watson &.Co., Ltd. report that the balance at credit of "profit and less account at October 31, 1838, for the year under review, after providing for all bad and doubtful debts, allowing. for de- preciation of Aerated Water and other Machinery and Plant, Motor Transport, Furniture, Fittings and Trade Utensils, etc... amounts to

Although the Commission's pur- chases during the past year were much! curtailed by the war, seventy-four contracts were placed

17

$318,627.95

To which has to be added the balance brought forward from last year 75,202.85

la

for

$393.830.80

to a total value of £182034, these Leaving available appropriation..... being mostly of an interesting nature, such 13 £25,000 for telegraph and telephone equipment for the development of South-To pay a dividend of 80, West China, and, in the latter half

cents per share, ab- of the year, a £30,000 order was

sorbing placed for railway equipment and To pay a bonus of 20

for negotiations

opened were

cents per share, ab- rails and material for the Burma-

sorbing Yunnan Railway.

It is proposed to allocate this amount as follows:-

EXPENSES COVERED. Since the Commission began operations in 1931, its par chases in Britain total £5,266,- 183. with administrative ex- penses amounting to £48,439. or 18/9 for £100. These expen- ses were covered nearly four times over by the investment « profits. At the close of the year a total sum of £78,963 stood to the credit of the Commission's current account and fixed de- posits

Bolts. The Corizmission WILS instru- Dolly Bars-Messermental last year in placing 43 with British students Oxy-Acetylene Welding Outfit-Chinese

Horizontal Hand

Pump-Rex engineering and shipbuilding Arms Contractor Pump Connected to fer practical training. Single Cylinder Engine-Com- pound and Simple Geared Hoists

FOR BRAZIL

-C. L. Flanges and C. I. Figd AMERICAN CREDITS Elbows Copper Tubes-Magnesia Covering-Rubber-Covered Cop- per Wire-Linseed Oll-Turpen- tine-Coloured

111201 Vehicle,

WASHINGTON, Mar. 9. (Reuter)

..$120,000.00

To transfer to General

Reserve Account To create a Special Re

serve against Out- standing Accounts. In China

30,000:00

100,000.00

50,000.00

To transfer to Chinese Staff Superannuation

T

Account

10,000.00

To write off Building

Improvements

To

Carry Forward next Account

to

FINANCE NEW TAXES OR A PRECAUTION?

Restrictions On U.S. Importers

LONDON, Mar. 9 (Renter)— The news that official notices importers have been sent to restricting the withdrawals, from bond, of tea, sugar and tobacco, is regarded in city circles as a pre-budget mea- sure, but prominent interests. express the opinion that the necessarily not notices do anticipate increased taxation. On the other hand, the possi

от one other of blilty of the these commodities coming in for increased taxation is in no way possible It is also ruled out. that restriction may be imposed as a precautionary measure order

to safeguard consumers unwarranted specula- against tlon in connexion with the bud- get.

in

It is held as likely that the the Exchequer, Chancellor of

burden at the that realising armaments has, so far, been ex-, clusively borne by the higher in- come groups, may consider that the time has come when the population at large should be the cost of made, to share in

A const- the country's defence. deration of this kind may cause

SATURDAY, MARCH 11, 1939.-PAGE 11

KIRIN

The

B

E

E

Choice of

The Multitude

Sole Agents

R

IH. HONDA & CO.

Tel. 20720.

40, Johnston Road, Hong Kong.

LAMMERTS' AUCTIONS

PUBLIC AUCTION.

TUE Undersigned have received

instruction

to sell by

PUBLIC AUCTION

OK

TUESDAY, the 14th MARCH, 1939.

Commencing at 2.39 p.m.

At their Sales Room, No. 2 Con- Ground Central, naught Road, Floor.

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE,

* Comprising:-

Hatstands. Divans,

Wardrobes,

CENTENARY PUBLIC AUCTION. Dressing Tables, Chests of Drawers-

OF BRITISH EMPIRE TEA

Exactly one hundred years ago

THE

THE Undersigned have received

Izistractions

to all by

PUBLIC AUCTION

Commencing at. 10.30 am.

Sir John Simon to tax some of the Arst consignment of tea grown 1,982.50

the most widely consumed com- within the British Empire was auctioned in Mincing Lane, London, modities. 81,848.30

the home of Great Britain's tea Tea circles are not unduly per-trade. Eight chests of tea had been

wild tea-plants MONDAY, the 13th MARCH. 1939 $393.830.80 turbed, expressing their conf-.

collected from dence that tea will not be chosen found in the heart of Assam, and for additional taxation. Never their arrival in London signified the theless, Reuter understands that breaking of a tea-monopoly, which had been held by China for a deputation from the Tea Buy-

at 18 ers' Association.

present

centuries. endeavouring to clarify the poel- with the KUNMING, Mär 10 Int'l)tion at a conference Measures for the development of authorities. the silk industry in Yunnan "pro- vince have been drawn up by the Provincial Department of Recon-

YUNNAN'S SILK INDUSTRY

PROGRESS OF OIL TALKS IN MEXICO

To celebrate "the centenary of this event," a silver casket of specially blended Empire, tea was auctioned for charity by the Lord Mayor of London on the tenth of

At the Cosmopolitan Dock of The Hongkong & Whampon Dock Co. Ltd.. Talkoktsul.

14

23 REELS PAPER'

and at 11.15 a.in.

At Godown No. 17 of The Hong-

January for the sum of 1,150. and this casket is to be preserved kong & Kowloon Wharf & Godown

Paints Alumi-An exchange of notes calling struction. It is learnt that techn-

unopened until tthe year 2039. A Co., Ltd., Kowloon, cal assistamer will be extended by Varnish and for close economic collaboration the Central Authorities in the exe-

1 Hogshead Tobacco Leaf stared MEXICO, Mar. 0 (Reuter)-Mr. golden casket filled with similar

In Godown No. 26. Enamel Paint Iron, Cement and has been made between the United cution of these plans.

the tea was presented to the King and of Quigley Beal-IXION Bolt Stock, States and Brazil, signed by Mr.

A silk experimental station will Richberg. representative. be established at Kaiyuan in cen-Standard Oil Co., who is conduct- | Queen.

During the last hundred years, Taps and Dies-Asbestos Cement Cordell Hull and Senor Aranha.

The two countries agree in -Fireclay-Machine Screws and

tral Yunnan, & loan for this pur- ing negotiations in Mexico

of the Mexican Britain's national taste for tea has Brazilian Vise-Tube freeing the

being an Nuts Chain Pipe

Empire of called into pose will be jointly extended by the the question Expanders-Faucet and Hose market for commerce from the Futien Bank of Yunnan and the Government's expropriation

Frame United States, the establishment of Rank of China.

statement industry worth about £100,000,000, properties, made

con-employing some" 2,000,000 British Window Frames--Wheel Brazilian National Bank, and the

The aim of this project is to in-yesterday after the second Barrows-Garlock. Sheet Packing resumption of payments on Brazil crease the production of raw silk ference with President Cardenas, i subjects. In various parts of the

Bibbs-Blue Printing Steel

-Miscellaneous Tools including dollar debts. Wrenches. Vise, Files, Saw Blades. Augers. Drills, etc., etc.

TERMS:-Cash on Delivery.

For

further particulars

exchange

on

47 Old Rubber Tyres stored in

Timber Yard.

TERMS: Cash on Delivery.

LAMMERT BROS. AUCTIONEERS.

Empire, an aggregate area of land been in Yunnan to 50,000 piculs anwhich lasted two hours..

Wales has The United States Exports and nially, each picul being valued at He said that several different as large as

solu- transformed from unproductive methods for arriving at, a Import Bank will extend credits $1,500.

tion of the expropriated olldelds wilderness into carefully tended not exceeding $19,200,000" to the Bank of Brazil to enable the

dispute were being discussed and tea-gardens where native women about 98 per cent. of Britain's that he was to meet President pluck the shoots of the tea-plant population drink tea at breakfast. dis- Government and Brazilian

to *control official Inspection order &c. please apply continue

tes, and about 35 per cent. have a over Reserve Bank which Brazil was Cardenas again to-day at 8 pm at the astonishing rate of about over eighty per cent. take afternoon

creating. The amount drawn upon after meeting Senior Majora, the 30,000 per day. foreign exchange operations,

Every day the people of Great cup of tea before getting up in the be from Brazil's future Mexican" Ambassador to Washing- At the same time, the State would

ton, this morning. Yesterday's Britain drink an average of 270, morning. Apart from other reasons Department announced that Presi-production of gold.

sald. were com- 000,000 cups of tea; that is about for its popularity, tea is Britain's Senor Aranha announced that discussion, he dent Roosevelt would recommend

same amicable six cups daily for each member of cheapest drink, a cupful costing that Congress place at Brazil's Brazil intended to resume payments tinued in the

population A painstaking only about one-eighth of a penny French Bank Building. 1st floor, disposal gold up to $50,000,000 to on her dollar debts starting in spirit and I feel that further the

statistician has computed that to make. Hong Kong. 7th March, 1939. serve as assets for the Central July 1.

10:

MR. E. V. M. R. DE SOUSA. Auctioneer,

China Auction Rooms,

progress has been made."

Dining Tables, Chairs, Sideboards, Dinner Waggon. Deaks, Typewriter Cabinets, Glass Tables, Fling Cabinets, Bookcases, Rugs, Carpets Electric Heaters, and Runners, Lamps, Cookers and Boilers, Radios, Gramophones and Records, Cutlery, Aluminium. Brass, Porcelain and Glass Ware, Filters, Wash Basins, Caheras, Binoculars, Ornaments, Magazines, Cooking Utensils, etc., etc.

A FEW PIECES OF BLACKWOOD FURNITURE

and

3 Chesterfeld Suites

1 Ashwood Bed Room Suite

1 Grand Father Clock

1 Upright

Collard"

Piano "Collard and

1 Cooking Stove. "Dover"

1 Typewriter "Ideal" I-Geyser"

1 Electric Refrigerator "Westing-

house"

1 Electric Refrigerator "Electrolux

Ltd."

On VIEW from MONDAY, the 13th MARCH, 1839.

Terras: Cash on Delivery.

LAMMERT BROS.,

AUCTIONEERS,

Now On Sale

19397

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DIRECTORY

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INDO.CHINA, NETHERLANDS INDIES, ETC.

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