1930-06-13 — Page 2

THE

HONGKONG WIN

PENINSULA HOTEL:}

HONGKONG HOTEL: REPULSE BAY HOTELI PEAK HOTEL

AND

SHANGHAI

ABTOR HOUSE: PALACE HOTELI

HOTELS

LIMITED.

in association with the Grand Hotel) .

Des Wagons Lits, Peking.

KOWLOON HOTEL

KOWLOON.

Under the Personal Supervision and Attention of

Phone Nos.

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Mr. & Mrs. H. J. WHITE. Cable KowLOTEL " Hongkong.

PALACE HOTEL

Tel. Kowloon No. 3,]

A

Tel." Address "Palace,

▲ First Class B ́sidential, and Tourist Hotel with all the Con-** vani noen of a Home. Under Entirely European Management. Cony Lounge and Billiard Saloon. Thres minutes from Forry. Families apecially

ered for. Moderate term,

Mrs. J. M. Oxberry,

Propri-tress.

EUROPE HOTEL

Renowned by Recommendation"

DANCING:

MUSIC:

GRILL:

After Dinner every Tuesday, Thursday and Saturday.

On the VERANDAH every* Saturday from 12 noon to 1.30 p.m. and every Tuesday, Thura- day and Saturday from 7.30 to 8.30 p.m.

Telephone, 5341 (8 lines) Cables "EUROPE" Singapore.

THE EUROPE HOTEL Ltd. Arthur E. Odell Managing Director.

RUNNYMEDE HOTEL-PENANG

"MALAYA'S NICEST HOTEL".

With beautiful private lawns to the Sea

MODERN THROUGHOUT

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RUNNYMEDE HOTEL LTD. George Goldsack.

CABLES.-"RUNNYMEDE.”

For the Beat

Manager,

LOCAL VIEWS

and

PORTRAIT PHOTOGRAPHS

Go To MEE CHEUNG

Studio, Ice House St

Branch 7, Beaconsfield Area'e

THE HONGKONG. TELEGRAPH, FRIDAY, JUNE 13, 1930.

NEW TOBACCO DUTIES.

INCREASE UNDER ALL ALL HEADS.

RATES INCREASE RESENTED.

BIG, RESIDENTS' MEETING WANTED.

Considerable surprise will be That great concern is being felt felt at the action of the Govern- among Chinese property owners ment in increasing the tobacco and traders alike" regarding the duties. The announcement was prospect of increased taxation in made yesterday afternoon in a Hongkong was emphasised by Mr. Government Gazette Extraordinary Li Hol-tung, the Secretary of the which contained an order made Hongkong and Kowloon Property by His Excellency the Governor Owners Association, whose opinion was Bought Testerday after- giving immediate effect to the pro- visions of a resolution which it noon. is proposed to introduce into the Legislative Council..

Mr. Li said that the present period of unprecedented trade de pression was most inopportune for By this order the duties on all an increase in taxation, but if the unmanufactured tobacco have Government deemed it necessary to been increased 60 per cent, and secure more revenue this might be the duties on manufactured tobacco obviated by exercising stricter by 33 1/3 per cent. Taking the

economy and by employing, estimate revenue from tobacco of wherever practicable, local men to $2,400,000 for 1930 as a guide, replace some of the Government' this means that the new taxation servants whose salaries are on a will yield a sum 'somewhere in the sterling basis.. neighbourhood of a million dol

lars.

t

Discussing the question of taxa tion to raise the money needed to pay for the increases recommended in the Salaries Commission report, His Excellency the Governor in

Discouraging Investment.

Mr. Li said that an increase in taxation at this juncture would certainly result in further depres sion of the property market, and it would also drive away many would. be property purchasers with money a despatch to the Secretary of from abroad. The above belief, State for the Colonies, published added our informant, has been con in a Sessional Paper on April 25, firmed by the dullness in the pro- said that taxes on liquor and perty market at present, despite tobacco, had recently been review-the fact that money is plentiful. ed and were probably as high as Shares, subject to no taxation it was wise to make them, though menace, have risen appreciably. they might be capable of future enhancement.

The New Duties. Below is given the resolution it is proposed to submit to the Legis. lative Council:

Resolved that the duties on tobacco set forth in section of the Tobacco Ordinance, 1916, Or dinance No. 10 of 1916, be altered and that, subject to the provisions of sub-section (3) of the said section, the duty payable (1), upon all tobacco imported into the Colony after the coming into operation of this resolution, and (i) upon all dutiable tobacco al ready in the Colony at the com- ing into operation of this resolu- tion, shall be as follows--per pound weight.

A-On unmanufactured tobacco: (1). If unstripped:

(a) containing. 10 pounds or

more of moisture per 100 pounds weight thereof, 75 cents, (former duty 50-ets.) (b) containing less than 10 pounds of moisture per 100 pounds weight thereof, 81 'cents. (Former duty 56

cts.)

Tackle Other Sources.

Mr. Li then said that if the Government desired to increase the revenue and thought that such an increase was imperative, then it could tackle other sources, including the possibility of taxing luxury goods or of throwing open to public tender some of the monopolies

While an increase in the assess- ment tax would discourage pro- perty investment and the develop- ment of the available building lots, Government revenues would ulti- mately be affected by the depression in the property market. The Gov- ernment revenues derived from local taxation would be increased according to the number of new buildings erected and to this end the consensus of opinion among the members of the Property Owners' Association was that the Govern- ment would, reconsider the matter,

A Residents' Meeting. Commenting on the same subject, Mr. Ho lu, who was

among the principal organisers recently of a Rent Problem Committee which aimed at a restriction of high rents in the Colony, said that it would be advisable to summon a Kai Fong meeting similar to the one called at the Tung Wah Hospital during the water famine last year. Such a meeting would unify opinion among the various trade associa- 60 tions, the Chinese General Chamber of Commerce, and the other re- $25+ sident and property owners' sociations and it was only by such a meeting that all the residents would have an opportunity of ex- pressing their grievances.

(2) If stripped:

(a) containing 10 pounds or more of moisture per 100 pounds weight thereof, 30 cents. (Former duty cta.)

(b) containing less than 10 pounds of moisture per 100 pounds weight thereof, $1.00. (Former duty 66 cts.)

B.-On manufactured tobacco: (1)- Cigars, $2.00. (Former duty

$1.50.)

(2) Cigarettes, $1.00: (Former

duty 75 cts.) (3) Other manufactured tobacco, including snuff and cigar cut- tings $1.00. (Former duty 75 cts.)

The taxation problem was one, added Mr. Ho, which affected all residenta of the Colony and it was feared that an increase in taxation, followed by a corresponding in- crease in rents, would make things unbearable to the community which had already suffered considerably on account of the fall in exchange. Mr. Ho concluded by citing the fruitful result of the Kai Fong meeting last year when the Goy- The following regulation has

ernment subsequently complied been made by the Governor in with the Chinese requests suggest Council under the Tobacco Or-ed at the meeting. Mr. Ho also ex- only pressed the hope that not

Drawbacks.

dinance:

The rates of drawback set out Chinese but foreign residents would In paragraph 1 of Government come forward and express their. Notification No. 75 of 1929 are opinions at such a meeting. hereby amended according to the scale set forth hereunder-

(a) On cigars at the rate of

97.5 cents per lb. (b) On cigarettes at the rate of

75.5 cents per lb., (c) On tobacco manufactured

in Chinese fashion:

Exchange Deadlock.

The deadlock at the Chinese Ex- change has continued and the con- tinued fluctuation of the Double. Eagle and the huge losses incurred by one party of speculators has made it difficult for the officials to find a solution. The officials of the

(i) Without the addition of Exchange met on Wednesday, even- oil at the rate of $1.05 ing in the hope of effecting a settle-

· cents per lb.

ment. It is understood that on ac- (ii) With the addition of not count of the absence of representa- more than 17 per cent.tives from the disputing parties of oil at the rate of 94. the meeting was unable to do any- cents per lb.

(Continued on Page 11.)

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