1921-04-11 — Page 3

Victor

THE HONGKONG

TELEGRAPH.

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The most Versatile

Musical Instrument

the World produces.

Moutrie's

Sole Agents.

CHATER ROAD.

JUST ARRIVED: BRASS, AND WIRE METAL

BEDSTEADS

HOP CHEONG

5

tepore Finishes

Manufacturers & Rappinen? [14.h vitam fummitage

Telephine No. 631.

Queen's final Cendia),

JUST

ARRIVED

A new consignment al

ALKIA & REUDEL BATH SALTRATES

Highly recommended in eases t RHEUMATISM, COUT, LUMBAGO, SCIATICA & SKIY AFFE 1ONS,

COLONIAL DISPENSARY Telephone 1877.

14 Queen's Road, Central.

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To look their best-let them benefit by expert Alfred Hardy treatment. For cleaning, dyeing, tailor-pressing. priners and renovations use the Alfred Hardy Service.

ALFRED HARDY & CO.

Cleaners & Dyers.

Agents,

DISS E

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wwwww

MONDAY, APRIL 11. 1921.

COMMERCIAL CONDITIONS trading, was reduced from $4,016,- 061,000 in 1919 to $2,949,361,000 Jin 1920.

IN THE UNITED STATES.

A Survey of the Factors.

During 1920 there were in- creases in United States exports to Germany, Spain, Canada, Cen- tral Americo, Mexico, Cuba, A recent issue of the bulletin of Argentina, Brazil. Chili, Uru the Guaranty Trust Company of guy. China, British India, Dutch New York states that improve-East Indies. Japan. Australia, ment in the United States business Philippine Islands, British South situation as a whole continues Africa, and Egypt. The most slowly, but more or less steadily notable increase was of course, in While the textile industries of the case of Germany, which took New England are resuming merchandise to the value of operations, and farm products are $31,437,000 as compared with moving more quickly, there are $92,761,000 in 1919. As for our evidences of stackening activity imports they were increased from.

in the steel and iron contres, and

idlo railroad rolling stock is in Spain, Brazil, Uruguay, Austr

every country except Greece, creasing. Wholesale dealers and alia, and British South Africa. jobbers complain that while their Imports from Belgium increased prices have been reduced to costs, from $7,00,000 to $17,443,000; from retailers continue to place orders France. from $123,819,000 to on the day-to-day basis. The $165,654,000; from Germany, from retailera declare that their prices $10,608,000 to $88,836,000; from are at reck boitom, and that offere the United Kingdom, from $309,- of big reductions from the sale 189,000 to $513,846,000; from Cuba, prices of a few months ago obtain from $418,610,000 to $721.695,000;; no response from the ultimate from Eespt, from $39,628,000 to consumer, who expects prices $97,015,000. which would represent too big a lors to the stores, despite the apparent opportunity to replace of Commerce on the foreign trade The report of the Department

at lower levels.

FOREIGN EXCHANGE.

were

The consumer, on the other of the United States during! hand, has failed to be convinced 1920, coming at a time when by the fact that the price drop in the European statesmen this country is the most pre- gathered to discuss the cipitated on record, and that he amount of reparations money hould not wait for a greater fall, to be paid by Germany, has if each element in the country directed attention to the matter is to do its ebare toward the of foreign exchange, and the maintenance of an orderly. con- question of its course in the imme. servative and safe readjust-diate future is being eagerly

due discussed. ment. This attitude is

show- A sudden fin part, of course, to the ing of strength by Sterling consumer's loss in buying power during the last week of January, resulting from reduced wages, which was accompanied by a part time work, and unemploy. rise in Continental exchange, ment. The effect is seen in the was interpreted as reflecting the decrease in railroad traffic, in prospect of an early and definite the diminished bank clearings, in settlement of the amount which. the falling off of mail ordere, in Germany would be compelled to the effort which producers are Pay. Sterling exchange went to making to coutract their cost $3.89, the highest point touched expenditures. This last involves since July of last year. The per- further wage reductions and a Centage of gain was even higher whole train of attendant circum in the case of some Continental exchanges. There was also read into the rise the fact that general Holding the controlling lever economic conditions are improv and given promise of approaching rapidly in the leading count- ing stability, however, are thoseries of Europe. In the case of factors in the situation which lie Great Britain, while detailed on the constructive side of the figures are not available, it is probable that the current balance! problem. Arrangements are being made to dispose of a large of trade ie in her favour, not con- sidering that much of her renew. part of the country's copper sured foreign business is being done cdent during a surprise visit The War Finance Corporation billa on London sold from $3.79 to

plus through private financing.

on long term credits. Domand Norwich by King George, was made a survey of the markets $3.8616 last week. During the same Queen Mary, and Princess Mary and this country'sability to supply

KING GEORGE AND A

SOCIALIST.

Surprise During Visit

To Norwich.

Thero Was Q

remarkable

stances,

CONSTRUCTIVE FACTORS,

or

scrapping

exports for many years to come,

a personal appeal was made to them. The Foreign Trade Financ-week a year ago the rates ranged his Majesty by a Socialist on ing Corporation is being organiz-for the present year is $3.5314

from $3.19 to $3.494. The low rate behalf of the unemployed. The ed to furnish credits to cover ex- Royal party motored from

The decision of the Entente Sandringham and few of the There is a disposition on the part Garmany must pay, together with: portation of American products. Allied statesmen as to the sum Norwich people knew they were of industrial enterprises to avoid coming. The four included a complete disintegration of their the provisions for a tax upon her visit to the Martineau Hall, where 300 women were at work of their plants. working forces

In a dozen was followed by a decline in making garments for children of directions efforts are being made European exchange. poor parents-nd making and to extend business or at least THE BOND MARKET. repairing outfits for the local to hold fast. Many look to see While the stock marketu con- hospital. A large crowd, in- the traditional dullness `of tinue dull, with irregular flurries, aluding many unemployed,

Fobruray give way to an Easter and there is but alight interest in gathered outside the hull.

revival of old-time proportions. bond trading, the market for new Inside was Mr. Freeman, an It is a period where constructive securities has steadily gained in xtreme Socialist, and chairman planning and optismism as to the strength since the first of the of the Unemployment Committee. future prevail over the mere year. The demand for now He was among those who were surface conditions. Hence the capital and refunding mones presented to their Majesties, and perceptible feeling everywhere comes from all sections of the that the trend inclines toward comtry and from a variety of improvemnt.

The took advantage of the opport

unity to make a direct appeal to the King.

week

interests. Municipal and public THE PRICE MOVEMENT. utilities isues are strongly re- He marched boldly up to His)

During the third Majesty, and the following ensued:

of presented both in long term and Mr. Freeman: "I ask you to anuary the decline in wholesale short term financing and there appeal to Parliament for one-than during the first two weeks ings on the part of railroads, prices continued but more slowly have been some notable borrow-

thing to be done on behalf of our unemployed."

of the year,

In the following many of which have been hard week the rate of decline was pressed by the delay of Congress The King: "You may be sure accelerated, while during the first in providing for partial payments that I will do everything I pos week of February the number of of the amounts owed to them as sibly can to help you. We sympathise with you very much, advances in the wholesale prices a result of Governmental manage. of household commodities as ment of the roads. Foreign loans compared with the

and we do hope that the trouble is not going to last very long."

declines have not figured largely up to upward. Last weok the present, but the sustained Those present were astonished, swung but his Majesty's reply was made the declines were again in the strength of the market has evoked iu kindly tones.

majority. By the end of the the belief that European and The King and Queen went to month a comparison will probably South American countries will begin negotiations Norwich for the express purpose

show a net decline, but, as was presently

The total. of seeing the work which has been the case for the month of Janu- for credits here.

the issues since: put in hand for the benefit of the ary, at a slower pace than during amount of unemployed.

In the January 1 is above $500,000,000, the preceding month. opinion of business men who and in many instances they have perceive the difficulties in the been oversubscribed within an

MISSIONARIES FOR THE SOUTH

way of recovering from a severe hour or two after the opening. setback, a normal condition would Reports from Europe indicate SEA ISLANDS. Negotiations

in the end have been roached that American capital is being betweón the Japanese Government and the more quickly had the sweep of invested directly in a considerable Vatican resulted in the recision price reductions inauguarated last number of industrial enterprises

YOU CANNOT AFFORD TO BE WITHOUT THEM. that 18. Spanish Ronan Cach year not been so intense and so now reaching toward a recovery

JUST received a largo Consignment of (1) LACTOGEN the most digestive food for Infants which keeps good in quality during flot Weather; (2) LACTOSE (Milk Sugar) for sweetening the foods of Infants and Dyspeptics: (3) MILFORD-MCGRATII FLUID INSECTICIDE the Best Fluid for destroying Fleas, Mosquitoos, Bugs, Flies and all other Insect Pests in Summer days; and (4) JOHN CAHILL'S GOLDEN FLEECE, MAGIC and CINDERELLA SOAPS for keeping everything clean in Housos.

PRICES are Very Moderate. Inspection and Enquiries are conllally invited.

泰慈理代總粉奶牛仔 SHIU FUNG TAI & CO.

Sole Agents for Hongkong and South China.

47 and 48 Connaught Road Coutral, Hongkong.

Telephone No. 1239.

wide.

of the pre-war business, missionaries should be sent to the South Sea Islands over which

FOREIGN TRADE IN 1921.

THE MONEY MARKET. With exports valued at $8,288.-

After ruling steadily at 7 per Japan has acquired a mandate. Fourteen of these priests have 759,000 and imports valued at $5. cent. during the week ending, gone to the Islands. One of the 279,398,000, the foreign trade of January 28, the rate for call missionaries, who is staying at the United States during 1920 ex-money in New York, which had the Tochi Roman Catholic College ceeded all previous records. The eased during the first three weeks in Tokyo, remarked in an inter- figures show that exports were of the year, became firmer last view, that there are about 500,000 one-third greater than those in weak. On February 2, the high native Roman Catholics in the 1913 and our imports were nearly of the week, 9 per cent. was Islands, without pricats to attend three times those of that year. established. This was follow- to their spiritual requirements. As compared with 1919 oured by an. 8 per cont. · rate He added that he and his exports increased from $7,920,- for the week end Carry- companions will teach the natives 425,000 to $8,228,759,000, or by over. Of the causes assigned the for the upward swing in this in Spanish instead of the German 308.334.000. Imports, on language used by the priests who other hand, increased from 83.- market, that most generally

MESSRS.

LANE, CRAWFORD & Co.

BEF TO ANNOUNCE

that they have procured from England the latest and most up-to-date electric coffee roaster and grinder on the market.

This machine may be seen at work in the Grocery Department of their store any day.

Coffee 'will be roasted daily under expert supervision and ground specially for each customer.

LANE

CRAWFORD'S

THE HOUSE OF QUALITY.

WATSON'S ·

Pure CARBOLIC SOAPS

SUPPLIED IN THREE STRENGTHS:

5

per cent FOR TOILET USE'

10 per cent FOR THE BATH

20 per cent MEDICAL BATH SOAP

ANTISEPTIC DOG SOAP.

A. S. WATSON & CO. LTD.

THE HONGKONG DISPENSARY.

TELEPHONE 16.

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This famous pencil is sold by

SOUTH CHINA MORNING POST, LTD.

3 WYNDHAM STREET.`

THE SINCERE CO. LTD.

HOZOVOZO

TEL. 1967

HONGKONG

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HIGH CLASS STICKS

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CANTON-HONGKONG-SHANGHAI

SINGAPORE-NANNING.

were there before the war. An-904.354,000 to $5,279,398,000, or accepted was the drawing upon funds were still lacked up in loans eased off from the rate of 8 par other member of the party said by $2,275,034,000. Our favourable New York banks by their Western on farm commodities, Time loan cont maintained for: nove that the latter has no intention of balance of trade, as a result of correspondents for funds to moet rate ranged last week from 6 to 7 months and in a dull market propagating racial prejudice. these shifts in the course of current needs while their own per cent. Commercial paper has I quoted at 74 to 744 per cont.