1933-06-09 — Page 22

LAWN BOWL'S LEADERSHIP

(Continued from Pupo 8.)

J. Chalmers (skip.)

Kowloon Docks.V. Ramsay, R. Morrison, W. Grolg, and Culion (skip); AM. Calman, Kempton, W. Cooper and J.C. Brown (skip); C. Atkinson, Ferguson, W., Hedley, and Lapsley. (skip)..

J.

M.

R.

INTERESTING LEAGUE

TENNIS

(Continued from Pago 8.)

opponents on their own ground. The visitors only gained 1% sets to 7 Scores:

Ip Kaw-ko and Liang B.-chiu (C.R.C.), tied with W. Wu and E. Davies 0-0; beat D. W. Waterson and Singh, 0-2,

Recreio; ILA. Alves, R. Ro- barts, A.S. Gomes and CE Mar- beat Wu and Davies, 6-3; beat Water K.MM. Wong and H. O. Tso (CRO), ques (skip): L.A. Gutierriz, L.C.R.non and Chanson, 0-2; beat Singh and Souza, C.G. Silva, and R.F. Luz Singh, 0-2, (skip)? TA, Xavier, J.M. Alves,

T. W. Lau and Y. K. Mow (C.R.C.). FV. Ribeiro and F.X.M. Silva boat Wu and Davies, 6-1; beat Water (skip).

Police-R. Ellis, G. Porking, Singh, 0-2,

son and Chanson, 6-1; beat Singh and E,G. Post, and W.E. Hollands (skip); J. Fender, T. Tallon, J.

A.T.C. 'Civil Service. Shepherd and W. Mair (skip); F. Nolan, F.D.E. Booker, A.R. Clarke, and G.C. Mosa' (skip),

KB.G.C.-R. Duncan,

C.E. Elliot-Heywood, W. Macfarlane, and

THE HONGKONG TELEGRAPH. FRIDAY, JUNE 9, 1933.

WORLD CRISIS.

(Continued from Page 0.)

Banker found this to be sound and pro- table business, so much so, that he ultimately offered interest in order to obtain deposits on these conditions.

ONE DOLLAR LOOKING

LIKE TWO

NAVAL OFFICERS GOING HOME

ILM.S. CURACOA BAILING ON MONDAY

COL. R. B. COUSENS PROMOTED

RAISED TO RANK OF BRIGADIER

H.M.8/Curacoa arrived in Hong-

Col. R.B. Cousens, D.S.O.; Assis- kong at 8_a.m. this morning on route for Home waters carrying tant Adjutant the Quarter-master- on board a number of officers and General in Chargo of Administra. Yangtse gun-boats. She sails from boon ratings from the crews of the tion of the China Command had Hongkong on Monday.

appointed Brigadier-in- Charge. On numerous occasions

W. Chanson, 0.1; beat D. and Keetpt", for a deposit of gold money, We soo where the Banker's Re was accepted and used as Money, and making one real dollar look like two. ing passage Home in H.M.S. Cura-lency the G.O.C. from the Colony, loaned out the actual money, thus how at the same time, the Banker

This is where the apparent mystery con: Lieut. A. Y. Spearman, Col. Cousens has been acting The following Officers are tak during the absence of His Excel--

surrounding money, beging, the Bankor want a stop further, and son, H.M.S. Mantle, Lieut. J.VW has now been made a substantive

Imbued

by the success of this luca, H.M.S. Torn., Lieut. D.R.C. Hodge Brigadier and the appointment issued his own Notes (of Promise to Frigolle, H.MS. Ladybird, Lieut. ono. pay gold coin on demand).. Whother C. C. Martell H.M.S. Beo,, Llout.

Born in 1880, Col. Cousens was ho possessed the actual gold coin E. C. M. D. Dowar H.M.S. Folke- the time of issue of the Notes, matter stone. Lieut, H. R Thompson, educated at Epsom College and A.T.C. Inflicted a decisive defeat upon

so long as he would "honour

the C.S.C.C. by 6%

he worked on

Beebee, ILMS. Wron; Surg-Lieut. torod the Army in 1900. A factor sels to 2. Scores:, -

diversity

of demand, and issued Notes Comdr. J.F.H. Gaussen, H.M.S.

In 1980, he was raised to the excena of his gold deposits. This Caradoc, Surg-Lieut. A. K. Steven- C-Sgt. Jarman and S.-Ggt. Saville time, making one real dollar, look son H.M.S. Peterel, Paymaster rank of Colonel and in the follow- (A.T.0.), beat J, Barrow and D. M. like half a dozen. The system was Midshipman K. H. Farnhill, H.M.Sus year joined the China Com- MacDongel, 6-4; tied with. J. G. not without its advantages, it ex- Bee. Commd-Gunner (T) B Bat-mand. During the Great War, he Pilcher and T. A. Bondall, 6-0; boat panded the amount of currency, in chelor, H.M.S. Keppot, Commd- had a fine record seeing service J. Skinner and M. Bebbington, 6-8.

Q.M.S. Oldfield and Sgt. Wilson provided very convenient time, Gunner J.R.S. Taylor H.M.S. Sand-at Gallipoli, Palestine and France wich., and War-Engr. G. A. Thomas and being mentioned four times 2-6; beat Pilcher and Ben-

in despatches. He was awarded It is obvious, the system entirely H.M.S. Cornwall.

the D.S.0. in 1918. From 1927-31, Seat Skinner and Bobbing depended on confidence in the Banker's

when he received his appointment| A.E. Silkestone. S. Binckler and Cpl. Halford some form of official control, it was circulat

Integrity, and conscquently, without

commanding the 18th. Field Brl-

Playing on their own courts, the promise, to pay gold on denen H.MS. Moornhen, Lieut.. .F.L. Clare College, Cambridge, and on-

A.M. Holland (skip): J.B. Logan, A.R. Whibley, J. Gibson and H. Nish (skip) A. MacIntyre, G.H. Sherriff, G.E. Roylance and L. Guy .(akip).

K.C.C.-E.C. Fincher, J. Chad- wick, J. Howe and

*

|

In

A. Hyde-Lay lost to

Barrow and Mac-money.

(skip); H. Gittins, H. Overy, H. dall,

Hampton and

and at same

of

(skip); F.E. Skinner, W. Hyde, T. (AT.C.), lost to Barrow and Mac-open to the abuses which inevitably circulation, and keep the wheels, of/With the China Command he was

Ferguson and J. Frasor (skip).

Civil Service:II. Locklart, A.O. Brawn, N.J. Bebbington and R.P. Phillips (skip); S. Randle, B. Alder- man, R.R. Wood and F.J. Jonca (skip): E.W. Simmonds, H.E.

industry and banking in motion dall, 6-3; beat Skinner and Bobbing-the system has been regulated Dongel, 3-3; beat Pilcher and Bon-followed. Since this period, however,

In Britain, Gold Resorve is aay, gade, R.A. ton, 6-3.

By $100 million. Paper Curroney Notes, Governments, and authority to issue 400 million. Bank Deposits, 61,700 Noten under strict regulation, is now millon. The Bank of England holds only given to certain approved Banks. the Gold. The £400 million Currency

Let us see how all this looks, in the

Strange, J. Hollidge and A.W. Grim- Indian R.C. were surprisingly defeat-light of the present day. We will Notes are in the hands of the Public.

mett (skip)..

Ap-

RIFLE SHOOTING.

Comers' Competition Won By C. Kirk.

BETTER SCORES MADE.

K.C.C. Y. L.R.C.. Visiting the Kowloon C.C.. the ed by 5 1/2 sets to 3 1/2. Scores:

take the case of Britain for the pur-Of these, some are in circulation, some

are hoarded, and some are held by the All L. Jack and J. J. Ferguson (K.C.C.) | pose. heat S. A, R. Bux and M. el Arculli,

A nation's financial position is for Banks against their liabilities. 7-5; bent M, R. Abbas and A. A. ever varying. It is never set.

It will be seen that in the terms Rumfahn, 6-3; beat A. K. and A. 11. proximately however, the conditions of coinage, we are in a very extended Suflad, 6-4.

in Britain, are that the Government position. At any given time, the has authorised the Bank of England banks will hold little more than 10% to issue Notes, to the value of £279,- of currency notes, against their total 000,000 without gold backing. This is liabilities. Of these currency notes, The All Comers' rifle competition purely a confidence Issue, what

out is only approximately, one of was held under the auspices of the known as the Fiduciary issue.

this longkong Rifle Club at Kowloon Tong It la decreed that any issue above four, is backed by gold. All

when we look atlast week-end. The conditions were this amount shall have an equivalent a £1 note, or a cheque, the idea of any rifle and any sights. The entries gold backing. This is the Law as it coinage, behind, is not nearly so great numbered only 17 this year but the stands to-day, but an Act of Parlin-as popular belief might have it.

scoring was 25 per cent, above that can soon increase the Confidence

The main backing is an intangible of last year. one-Confidence. As WA put con-

DIVISION 2. Cralgengower:~-~~D.K. Kharas, M.J. Medina: Y. Abbas and A.A. Razack (skip): G. Duncan, F.K. Modi, E. Tuck and W. Gill (sitip); N. A. E. McKay and D. D. McKay J.S. Landolt, H. Milton, W. Ward (K.C.C.) drew with Bux und Arculi, and W.V. Field (skip) Reserves: lost to Ablas and Rumfahn, 3-6: lost J. Johnston and E.C. Barry.

to Sufflad and Suflad, 4-6.

A. E. Collins and R. S. LR.C.-A.M. Omar, S.Ö.

(K.CC.) beat Bux and Arcuill, 6-4; Capell A.M. Rumfahn and K.M.

beat Abbas and Rumjahn, 0-3; lost (skip); ML. Razack, M.Y. Adn!, to Suad and Suad, 4-6. A.R. Dallah and A.M. Wahub (skip); S. Ismail, H. Harteam:

Bux. Omar

Bishen Singh and B.A. Hydercleshall (skip); P.E. Knight, S. (skip).

H.K. Electric:-A. Hatch, A. Davies (skip); L. Collyer, T. Cremacy, J.F. McGowan, and R.R. McKellar, F. Normington and A. F. Fitzgerald, T. Armstrong and T. Paul (skip); R. Butler, C. Gaha-Holdman (skip). gan, W. T. Padgett and J. F. Lunny (skip); J. Sloan, J. G. Haigh, H. S.

Mackay and A. Tarbuck, (skip).

Yacht Club:-L.S. Greenhill, A.

FORECAST.

DIVISION 1,

v Police

v Kowloon C.C.|

v Kowloon Docks

v Civil Service DIVISION 2.

W. Brown, J.W.C. Bonuar and A.TAIKOO R.C. Macfarlane (skip); WJ. Hanaen.

CRAIGEN- JAR. Selby, A. Murdoch, and F. Sutton (skip); N.V.A. Croucher, J.L. Spence, J. Abraham and J. Bentley (skip).

GOWER

B.G.C.

Blauer

ore than 30% of Gold Reserve.

more

shows,

that

of

money

rangés.

The value of Paper Notes in circula-fidence into the system or take it It was a very successful shoot In with probably, on tlon is approximately £370,000,000, away, so increases or decreases the spite of the threatening weather.

the average, not amount

available. In- The strong wind was responsible for Strange as it may appear, in view

bad scoring at the 500 and 000 yard the amount of legal Papes carrancy in circulation, there are deposits with the Banks of "approximately £1,700, 000,000.

of

The best results were as follows:

200 500 600 Tet.

yds. yds.yds,

Tetioy

32 30 30 12 27 30 31 88 24 26 Ri 27 24 80

29 21 29 70

21 28 27 79

numerable instances may be cited, where in the space of few years a values of any, £500, £2,000, £250, af 'security has had various monetary though the actual article, and its utili. ty value, has all the time remained C. Kirk How can this be so? Here comes unchanged. Money created by cheque H. C. Watson in, another form of Paper Money-the value in circulation has naturally J. L. Cheque. This accounts for the dif

varied accordingly. ference. Let us venture

A. Chappelle а simple When the general public, or the D. W. Waterton illustration. Assume WE' possess Banker, gets a "t of the Blues," down R. H. Woadnian.... securities, in the shape of Property go the accurity values, followed by J. C. M. Grenham. 27 24 22 73 Hotels, Factories, Ships, Stocks, and

As a natural sequence, cheque value. Sharea atc. Those have, over

C. Kirk was awarded the sliver cheque value is taken out of circula-cup for the Competition and Tetley. period, a

definite average money tion, which th turn, compels restricted won the special prize for the best value, which is the result of assess-trading, followed by reduced profits. open sight score, mont by Mass opinion (Ruling Market The consequence is lower

production Price). Let us depoalt the title to these of physical wealth. The converse; ▾ CRAIGEN- ..

securities with the Bank, and in re-fortunately, is also true. .GOWER Civil Service:T. Hunter, L.R. YACHT CLUB v Recreio

turn, we are permitted to write out (The third article, dealing largely Whant, I. Westlake and S. Ec- KOWLOON C.C. v H.K. Electric cheques, to a given amount. Cheque with Physical Wealth, will appear on

Amounts, to this value, pase

Into Monday.)

KOWLOON

RECREIO

K.C.C.-F. Maddox, C.J. Roe, V. C. Labrum and L. Jack. (skip); J.M. Brown, J.B. Houghton, E. Kern and J.M. “Jnck (skiji); P. Kristo- | Civil Service V POLICE fersen, A. Spary, WW. Hirst and [Indian R.C. J.P. Robinson (skip);

Robertson and Glutton for returning Silver spoons were awarded to the highest score in their respective units and to Waterton, Watson and Woodman for high gun at the re- spective ranges,

SHARE PRICES

·TO-DAY'S QUOTATIONS

COTTON, WHEAT AND SILVER

The following is the list of focal | LATEST NEW YORK share quotations Issued to-day:

Banks. H'kong Banks, $17321⁄2 sa. H'kong Banks, London, #127 n. Chartered Bank, 14 n. Mercantile Bank, A. &

$241⁄2 n.

Mercantile Bank C., £% n. East Asia, $08 m.

QUOTATIONS

Moasre, Swan, Culbertson and Fri have received the following quot tions on the New York cotton an wheat and silver exchange for yeste

Bday.

Am: 0. Finance Corp., Bh. $20 n. China O. Fin Ord. Sh.35.40 n. July China O. Fin. Prof. Sh.$5.00 n.

Insurances.

October

Cotton.

Opening Closing Range Rango 0.10-0.14 0.01-0.01 0.40-0.39 0.25-0.27 -0.55-9.57., 9.40-0.413)

· 9,63-9.02 · 0.48-0.481 0.76-0.78.9.0347.68) 9.92-9.02 9.79-9.70

0.10

December

January

Canton Ins., $1450 b.

March

Union Ins., $525 n.

May

China Underwriters, $2.40 sa..

Epot

China Fire, $595 n.

Wheat

H.K. Fire Ins., $270 n.

International Ásace, Sh. $4.75 n.

July

Chicago Winnipe

734

62

September October

75

04%

December

77%

00%

Silver.

80.00

37.80

80.10

Shipping.

Douglas, $82% b. H.K. Steamboats, $22 s. Indo-Chinas, (Prof.) $80 n. Indo-Chinas, (Dof.), 830 n. Shella (Bearer), 48/9 n. Union Waterboats, $15 n.

Mining.

Benguets, $381⁄2 n. Kailans, 32/8 n Langkats (Single), Sh. $16 n. S'hal Explorations, Sh. $2.40 b.

and 80.

S'hai Loans, Sh. $5 . Raubs, $10 s.

Venz; Goldfields, $41⁄2 1. Benguet Exp., 21 cts. s.

Docks, etc.

H.K. Wharvès, $128 sa. H.K. Docke, $10 b.

8. China Motors A., $10 n. 5. China Motors B., $8 m. Providents (old), $8.90 b. Providents (now), $1.40 b. Hongkows, Sh, $334 n New Engineerings, Sh.$8 n. Shanghai Docks, Sh. $148 n.

Lands, Hotels, etc..

H. & S. Hotels, $74 s. and sa. H.K. Lands, $77 8.

S'hal Lands, Sh. $834 n.. Metropolitan Lands, Sh. $14. n. Humphreys, $13% b.

H.K. Realtios, $8.10 8. Asia Realties "A" Sh. $140 n. Asia Realties "B" Sh. $20, n. Chinese Estates $97 n. China Realtles, Sh. $14% n. China Debentures Sh.8187 n.

Cotton Mills.

Ewo Cottons, Sh. $15.20, s. and

阵容。

S'hai Cottone, Sh, $100 n. Zoong Sings, Sk.$14 n..

Wing On Textiles (S) $85 n.. Public Utilities. Tramways, $22 n.

Peak Trams, (old), 15% n. Poak Trams, (new), $7% n. Star Ferries, $92 n.,

July September December

Total salen for the day-

282 Contracts 459 Contract: (7,050,000 oz.) (11,475,000 or

Yaumati Ferrios (old), $284- China Lights (old), $13.40 b. China Lights, (now), 812% b. H.K. Electrics, $72/734 80 Macao Electrica, $28 n. Sandakan Lights, $10% n. Telephones (old), $80/29% 80. China Buses, Sh, $111⁄4 n.. Singapore Tractions, 1/- n. Singapore Pref., 18/-n.

Industrials,

Malabon Sugars 815 n. Cald: Macg, (old), Sh. $20 ¤. Cald Macg. (Prof.), Sh. $16:1 Canton Ices, $6 n.

Cements (Com.) $7.70 b. Cements (old), 86.40 n. Coments (now), $1 H.K. Ropes, $9 n.

Stores, etc.

n.

Dairy Farms, $28、n. Watsons; $10 n. Der A Wings, $1.n. Lane Crawfords, $4,90 s. Mackintoshs, $21 n. Sincères, $14 n. Wm. Powells, 82.10 n.

Wing On (E. K.), $190 n..

Miscellaneous.

Amusements, $123 n. H.K. Entertainments, $12% 2. S.C. Enterprises, 8814′′n, United Theatres, Sh. $4 n. Macao "Greyhounds,” $10 n. Constructions (old), $4 s. Constructions (now), $18, B. Ind. G$ Bonds, 70% n. H.K. Govt. Loans, 3% Prem. Wallace Harpers, 39 n.

FANNY

GLADYS PARKER

[REG, U. B. PAT, OFF..

WHAT ARE YOU CRYING ABOUT, LITTLE

GIRL?

'I CAN'T' GET MY KITE

UP

NOW, WHAT ARE YOU CRYING ABOUT?

I GOT IT UP FOR YOU, DIDN'T I ?

LET ME

·HAVE IT I'LL SHOW YOU

HOW

SEE?

IT'S SIMPLE- YOU JUST RUN

WITH IT.

YES-BUT NOW, YOU GET

IT DOWN

·FOR ME.^

1999.SYMCA BERVICE, INO.

PARKIR