1934-06-28 — Page 17

THE HONGKONG TELEGRAPH

THURSDAY, « JUNE

19345

COLONY'S BUDGET EXPECTED TO BALANCE Whiteaways

LONDON INCREDULOUS BRITAIN'S RETAIL

SILVER NEWS TREATED WITH

GREAT RESERVE

London, June 27.

are BB-

Silver circles here animously treating with the

TRADE

IMPROVEMENT OVER LAST YEAR

greatest reserve the messages from The money value of retail trade

London, June 27. New York as to America's silver safes in Britain last month was

1980, 7.7 per cent, greater than in May

programme.

It is pointed out as being almost incredible that the Washingtop Treasury would announce its In- tention to purchase a huge amount of silver before the end of the year, thus encouraging speculation and forcing up the price of the metal. It is also very doubtful whether it would be possiblo - to purchase, such an amount as sug gested within the period numed.

It seems more likely that the Treasury will acquire silver quietly without disturbing the market, in accordance with Mr. Morgenthau's recent statement.

It is suggested that the message may have been inspired with a view to vote-catching for the Democrats at the coming election. --Renter.

j

For the first four months of. the trading year, the total sales were 33 per cent, above those for the corresponding period of 1933,

Stocks at the end of last month were 2.2 per cent. higher and employment was 3.1 per cent. greater than at the end of May last year.-British Wireless,

TUNGAN VICTORY

COMPLETE CONTROL IN

KASHGAR

LOWEST SUPPLEMENTARY BILL FOR THIRTY YEARS

COL. TREASURER'S STATEMENT

$4,000,000 SAVED LAST YEAR

Speaking in the Legislative this afternoon, the Council Colonial Treasurer (Hon. Mr. E. Taylor) said the Colony's finances are in a sound and very liquid condition, and there is every hope that during the year recurrent revenue will more than balance recurrent expenditure,

U.S. NOVELIST DEAD

E.M. RHODES. PASSES AWAY

New York, June 27. The death la raported from San Diego, California, of Mr. E.M. Rhodos, the well known novelist, at the age of Gt years."

Mr. Rhodes was a cowboy in New Mexico for 25 years, and began writing for publication In 1906. Illa_drat novel was "Good wrote Men and True," and ho many in later yours-Reuter

$13,821.025 on the 31st December,

1933.

amounting to $35,199,247 were pre- Tlie estimates for the year Pared on a basis of a 18/2d dollar and a deficit of $1.196,672 was budgeted for. This amount In- cluded a sum of $400,900 Being part payment to the Admiralty for the surrender of the Naval Arsenal Yard and Kellet Island. The pay- ment was, however, not made but will full to be made at a later date. Exchange never fell below 18/2%d, while the average rate throughout

UNDER-ESTIMATED.

Mr. Taylor made this statement when introducing a Bill to make Simla, June 27. provision for a supplementary sum The Tungan tribesmen are now. of $27.243.65, which, he said, was in control of Kashgar and prac-the smallest asked for since the * .Sterling Gains

tleally all southern Sinklang, and beginning of the century. London, June 27.

as far as the Afghan borders, nc- After prolonged activity at in-cording to messages received here the Bill, the Colonial Treasurer the year was 174.3/16d,

In moving the first reading of tervention, the British Exchange

Renewed fighting recently OC- Equalisation Fund did not operate curred between the Tungans and command to move the first reading said: rlæc by Your Excellency's to-day and sterling strengthened of attacking forces from the North of a Bill intituled "An Ordinance its own accord, owing to the small Province, presumably directed by to authorise the Appropriation of the estimates were made under Large savings ne compared with general demand.

Chinese with Turk! help and under a Supplementary Sum of Twenty-items. as salaries, pensions, loan It is believed. In some quarters Soviet Influence.

two hundred and charges and stores. The under- seven thousand that the silver news from America, The Turki element in Southern forty-three Dollars and sixty-seven expenditure on personal emolu- with the suggested possibilities of Sinkiang, under the leadership of inflation, is causing uncertainty Hodjanicz, who claims to be head cents to defray the Charges of the ments alone amounted to nearly $1,500,000. During the year a in the future of gold currencies, of the Turki Republic, is now re-

year 1933.".

supplementary budget was pre- resulting in the small purchasen of ported to be desirous of returning Coples of the detailed statement pared and by a Resolution of this atoriing.

to the Chinese regime. provided of expenditure and the report an Council dated 31st August the The

Relchumark firmed

up Soviet influence is excluded the finances for 1983 have already following further monics wero sharply to-day and yesterday, duo! Router.

been furnished to each member.voled-Hand No. 32, Public Works to small purchases in narrow

Only one head of expenditure was Department, $81,740; Head No. 33, market. The movement is out of

exceeded during the year viz. Head Public Works Recurrent, $60,000; proportion to the volume of busi-

No. 28, Miscellaneous Services, the Head No. 34, Public Works Extra- NESE.

net excess being $27.243.67 and for ordinary, $509,918; total $631,668. this supplementary appropriation In taking this Bill it is custom- is requested. There are, of course, nry to refer to the present financial

SOUND FINANCES.

The Financial News estimates that the Exchange Fund has spent $10,000,000 out of its gold stock to GERMANY'S TAX YIELD MUCH excesses under some of the sub-position of the Colony. I will give

support sterling since the weak- ness of the pound started recently. -Reuter,

JAPANESE LOAN DENIAL

CHINA NOT LOOKING THAT WAY FOR FUNDS

Shanghai, June '28.

IMPROVED

Berlin, June 27.

heads of the other heads, but these some approximate figures to the together with the excesses on the end of May. The totul revenue Items under the head in question at that date was approximately A substantial improvement in have already been fully explained $12,920,000 which is $301,500 less tax yields was reported by, the to Honourable Members from time than the proportionate amount of Secretary of the Finance Ministry to time, and have received the ap- the Estimates over a period of five In the course of a statement deny-proval of the Finance Committee months. ing that a fresh tax would be im and of this Council in the usual posed with a view to promoting German exports.

to

way.

LARGE SAVING.

OPIUM REVENUE 'DECLINE. The principal shortalls, accur The oficial said that the tax.

in the following Heads:-Oplum {yleld of April and May was 120.-

Monopoly $224,000, Land Sales!

· $27,244 represents the total of $198,000 and Stamp Duties 300,000, 000,000 marks above the corres the supplementary appropriation On the other hand the receipts ponding months of 1933.

He

required, .no account being from Duties were $37,000 in excess was certain

that fiscal re-allowed for under expenditure on of the estimate for the same period, ceipts would exceed the Budget es all the other heads of the estimates, Railway receipts were up by $75,- Mr. T. V. Soong flatly denies

timates by hundreds of millions of Teport. circulated by Japanese marks:

If this were done there would be 1000 and Estate Duty by 300,000. and the German Govern- circles, that the North-west ment would thus be enabled

The approximate expenditure tol a large saving, the total expendi Development Company is negotiat cover all fresh necessary expenditure being $31.122.715 against an the 1st May amounted to $11,600,- ing with Japanese interests for a ture.-Reuter,

estimate of $36,199,247, a decrease 000, $2,334,500 below the propor loan of $30,000,000 to finance part-

of $4,076,532, If the actual ex-tionate estimate of expenditure for of the economic development pro....

Bishop Valtorta will distribute, the Panditure of the year ba compared the year. The under-expenditure is stramme. He said that the Com- prizes of the Chinese Catholic Schools with revenue the surplus is $876,- due partially to the higher rate of would never depend on Catechism Competition at Wah Yan 563, thus increasing the excess of the dollar, savings being shown Japanese financial aid for carrying College, Robinson Road, on Saturday, assets over Habilities from $12,- under Personal Emoluments, Pen- out its projects.-Central Newa. June 30, at 2.30 p.m.

847,062 on 1st January, 1933, to slons and Public Debt. Expendi

ture is, however, always less on "Other Charges" and Public Works [items during the first half of the year and will ring, as the year nears completion.

pany

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Ideal after the shave, to soothe and to. smooth the skin: a dusting powder refreshingly perfumed with "#711" Bau clo Cologne,

A Man's Tollet Problems

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Genuine

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SOUND FINANCES.

and

The Colony's finances aré sound and in a very liquid condition, and although it is early days to give an estimate of the final resulin of the year I have every hope provided there is no heavy decline in exchange that recurrent revenue will more than balance recurrent sxpenditure, The programme under Public Works Extraordinary is rather 媳 heavy one if progress is continued an ex- pected, It may be that expenditure such works will cause п de- ficit on the total year's working. It must be remembered, however, that expenditure on Public Works Extraordinary la generally much below the estimate and if this year the estimate is exceeded it simply means greater progress.

I would add that the supplemen- tary appropriation now asked is the smallest since the beginning of this century.

The Bill was read a first time.

It takes people in sowing

circles to know all the dirt..

SHARE PRICES

The following is the list of local share quotations issued to-day.

Banks,

n.

H.K. Banka, $1840. H.K. Bank (London), £180 Chartered Bank, £16% n. Mercantilo Bank, A. & B, £28 n. Mercantile Bank C., 16.n. East Asia Bank, $91 n Am: 0. Finance Corp., Bh. $20 China Q. Fin. Ord. Sh. $4 n. China O. Fin. Pref. Sh. 85 n.

insurances.

Canton Ixa. $800 n. Union Ins., 36721⁄2 5. China Underwriters, $1.20 b. China Fire, $510 n. H.K. Fire In., $250 n. International Assce, $6.

Shipping.

Douglas, $40 n. ILK. Steamboats, $7 n. Indo-Chinaa, (Pro), $80 n. Indo-Chinna, (Def.), $38 u. Shells (Bearer), 50/- n. Union Waterboats, $11.70 b.

Mining.

Antamoks, 60 cts. 8. Balatoce, $32 n. Baguio Gold, 86 cto. n. Benguets, $323⁄41⁄41⁄4. ¤. Benguet Exploration, 20 cts. n. Benguet Goldfield, 20 cts n. Blg.Wedge. 12cta n.

Gold Creek $21. Gold River. 26% cts. n. Ipo Mining, $4 n. Itogone, $7 n.

Kailan, 20/- n.

Langkats (Single), $18% n.

S'haf Explorations, Sh. $5 n. S'hai Loans, $6 n.. Raubs, $14 p.

Venz: Goldfeld, $7 n.

Decks, etc.

H.K. Wharves, $108 b. H.K., Decks, $15 n.

S. China Motors A., $2 1. S. China Motors E., $8 n. Providents (old), $134 n. Providents (new), 50 cts. n. Hongkows (old), $3221⁄2 n. New Engineerings, Sh. $5 n. Shanghai Docks. $131 n...

Cotton Mills,

Ewo Cottons, Sh. $11.30 n. S'haf Cottons, (old), Sh. $72 a. S'hai Cottons (new), Sh. $42. Zoong Singa, Sh. $111⁄21⁄2 n. Wing On Textiles, Sh, 867 n.

Lands, Hotels, etc.

H. and S. Hotels, $5.80 b. H.K. Lande, $5814 b.

S'hai Lando, Sh. $26 n. Metropolitan Lands, Sh. $14 n. Humphreys, $10,60 m. H.K. Renities, $6.35 b..

Asia Realtion "A" Sh. $140 n... Asia Boaltien "g" Sh. $20 n. Chinese Estates, $8214 b. China Realties, Sh. $15% a. China Debenture, Fh.$137 n.

Public Utfilties. Tramways, $21

b.

Peak Trams (old), $15 n. Peak Trams (new), $7 n. Star Ferries, (old), $100% b. Yaumati Ferries, $21 n.

i

Men's Outfitting Dept.

SUMMER PYJAMAS

THE

"LUSTRE SHEEN”

POPLIN

PYJAMAS

Made from a fine English made Poplin cloth, Full Cut with Short Sleeves and Legs: Plain White and the following colours, Blue, Fawn, Green & Grey with contrasting colour Collar. All Sizes.

Note the Price

$5:50 Suit.

THE

"NEW-STYLO” SIDE GARTERS

Specially designed to keep the Shirts down and the Socks up. Invaluable for Tennis and all Sports. Also for everyday wear during the warm weather. No binding on the leg. Assorted Colours.

Price $1.50 each.

"CELTEX" and "AERTEX" UNDERWEAR

VESTS, TRUNK DRAWERS & COMBINATIONS

NEW LOW PRICES & GENUINE "AERTEX” MATERIALS IN ALL WEIGHTS

$1.25 to $2.50 Yard:

SHOP AT WHITEAWAYS

C. Lights (old), $8.70 b. C. Lights (new), $8.30 b: H.K. Electrica, $7224 sa. Macao Electrics, $25 n. Sandakon Lights, 28 n. Telephones (old), $2434 sa. Telephones (now), $12 b. China Buses, Sh. $13.20 n. Singapore Tractions. By- u. Singapore Pref., 16/10 n..

Industrials.

Malabon Sugars, $12 n. Cald: Maeg. (old), Sh. $21 u Cald: Macg. (Prof.). $19 Canton Ices, $2.70 n. Cementa (new), $2.80 b. H.K. Ropes, $41⁄2 2.

Biores, etc. Dairy Farms, $26 b. Watsons, $0.70 n.

Der A Wings, 31 n."; Lane Crawfords, $4.40 ni: Mackintoshs, $21 m. Sincores, $9 n. Wm. Powells, 70 ets. Wing On (H.K.) $100 n.

Miscellaneous.. Amusements, $4 n. H.K. Entertainments, $74 n. S.C. Enterprises, $1 n. United Theatres, 'Bh.. $2 n. Macao "Greyhounds," $2 n. Constructions (old), 81.55 Constructiona (now), 70 cts. b. Ch. Govt. 6% 1925 G.$ Bonda

874% n

H.K. Gov. 4% & Loan. 8% b.

(prem)

Wallace Harpers, $8 n.

Gov. Loan 3% $ Loan, 4 b.

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BREWERY

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Many claims are made for beer, and without doubt it is a safe beverage in hot climates, providing that it is good. Z.H.B. ́is on sale at all the loading hotels, clubs and licensed stores, and once you decide to try it, you too will surely discover that it is

THE

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Sole. Agents

CENTRAL TRADING CO.

Bank of Canton Building.

T