1934-10-04 — Page 18

EURESOL

FOR THE HAIR $1.50

A Germicidal Lotion

which is pleasant to use.

Eliminates all dandruff and is

A Genuine Hair Tonic.

TO BE HAD WITH OR WITHOUT OIL.

A. S. WATSON & CO., LTD.

ESTD. 1841.

(ARC)

Podio

THE WORLDS ASTAGE

ONIN NEW

atterso ALL WAME SUPER-HETEROOVNE,

We have received new stocks of this popular receiver, and invite inspection of the various models now on display in our showrooms.

Patterson Superheterodyne All Wave sets have proved by performance to be the most satisfactory receiver on the market, they are extremely simple to operate, and quite inexpensive.

Let us send you catalogues, or arrange a demonstration in your own home.

'

S. MOUTRIE & CO., LTD

York Building.

MEN'S

ALL WOOL

Chater Road.

Blue Flannel Blazers

London

Cut and Tailored which assures you of Perfect Fit

SINGLE BREASTED

Unlined.. Patch Pockets

with brass buttons

$26.50

DOUBLE BREASTED

Smartly Cut

with brass buttons

$29.50

Very suitable for this time of the year and to go with the above are

GREY FLANNEL TROUSERS

[Made in England)

$11.50 per pair.

All Goods Loss 10% Cash Discount.

Lane, Crawford, Ltd.

Phone 28151,

Men's Wear Department.

Six Lines.

THE

HONGKONG TELEGRAPH.

ON LEAVE--

A Messago

to the Home-going Motorist!

--WITH A CAR "VAUXHALL” The car of supo:-refinements with no price equal !

"Light Six" Saloons

Standard

£210

De Luxe £230

"Big Six"

Saloon £325

Demonstrations

with pleasure

THURSDAY, OCTOBER 4, 1934.

NOTES OF THE DAY WHAT HAPPENS WHEN The Very Idea!

REASSURANCE

No matter what happens, we have Mr. Chamberlain's reassur- ing words, spoken before London bankers and marchants. He han no fears for the safety of the pound. He has every conndence in the strength and future of the Sterling Bloc. He believes in im- perin! economic co-operation. Everything lu going to be all right. There is a pleasing harmony in Mr. Chamberlain's tune with that Bung a few weeks earlier by Sir Robert Kindersley, when he said: The decline in world trade has been partially checked, a greater degree of currency stability has been attained, and a substantial rise has occurred in Important commodities manufactured by British companies abroad. Yet, there is the mereat suggestion of a discord in the additional remarks of Sir Robert when ho Indicates the decline in British Income from Overseas investments, in spite of this greater stability, this increase in price and the generally im- proved condition of trade.

Special arrangements extended to the rotorial going on Home furlough for delivery o

at Home and sub STEADY DECLINE London and the re-delvery In Hongkong above IS.K. landed priceu.

Deferred Terme--Repurchase-Lierne & in- Луганск arranged. Pull partlestars on plication.

HONGKONG HOTEL

GARAGE SHOWROOM

Phone 27778-9,

The

Stubbs Rd.

Hongkong Telegraph.

THURSDAY, OCT. 4, 1934.

D-

•

STERLING SLUMPS

By COLLIN BROOKS

In The "Bonday Dropatch"

CHRISTENING BABY (By George)

THIS is a special article for men who go down

new low fessor Henry Clay, Professor "E £ touched a

record against the frane, nud Clay is listed in the books of re-

to the sea in ships. Those na one of tho gold reached a record high price." ference merely

This sentence, important and "officials," but he is economic who have been down for the Is, has grown almost advisor to the Governor, a post to third time won't read it but serious as

which he went from £1 similar still there's a good number monotonous recently."

"The Control Inter came in and position with the Bankers Indus-yet who would like to be

trial Development Company stendled the market."

formed by the Bank of England to articled. help industry--after a very distin- gulshed academic career at Leeds and Manchester universities.

Again, tho sentence has become a commonplace in the newspapers. The ordinary man, remote from the Foreign Exchange market and not engaged in business that In- valvea the use of foreign curren- cies, may well wonder what it is ull about.

owen

The latest complaint we have is from a correspondent, who describes himself rather dis- paragingly as a "salt", against the pernicious-system of chris- tening ships with bottles of champagne.

He writes to UA thuswlso:

"Dear George, As a salt of many seasons I wish to register my objection to the wasteful custom of christening abips with champagne. What about us poor sailora? Some of us weren't christened at all and those that were swear that water used when they left the was ships,

wasted.

The Bank of England is noted for its secrecy and aloofness. Its Any explanation must go back methods are velled, and rightly so.. since the thoughts and movements to certain elementary principles

When a trader buys goods from of the headquarters of any defence a foreign country he must also buy force should be secret. This is, in

broad outline, what happens: the foreign money of that country When the foreign exchange mar with which to pay his bill. If Iket is confronted by a falling E. buy goods from a Frenchman, he

an officer of one of the banks which wants not my pounds but francs.

are used for exchange dealing by must buy those france. If more franca are wanted than pounds in the Bank of England will get a the money markets of the world, quiet telephone message asking the

Just to show what bad habit it' francs will go up in value and quotation for france.

*75-76%," perhaps will come la I should tell you of a terrible. For instance, the 1933 income pounds will fall. This is just

tragedy that happened in our the reply. from British Investments across supply and demand operating.

"Ab, then you might sell on our family a little while ago. Jack, Britain Every autumn the water amounted to the very

[so many]." The or-

that's my elder brother, came home from a very long voyage and found' considerable sum of £166.4 mil- large sums abroad, and particularly account. lions. If you go as far back as to America, for raw materials, der in executed. The Control Is

The price of that his wife had just got a baby 1929, according to the same au- which she has bought. The bills in the market." thority, when, admittedly, things fall due at a particular time be-francs falls on this new selling, and ready for him, Jack says he is been christened. "Not yet," says were at their peak economically cause the natural harvests of these the £ in relation to the franc rises. overjoyed and asks if the baby has od the British goose hung high, raw materials come at a particular Speculators are rebuffed, if not Amy (that's his wife) and Jack

defeated. It will be realised that find that the overseas time. When British traders have

goes straight out, buys a bottle of you will revenue amounted to £230.9 mil to pay for their goods, they must in this delicate dealing money may

be made or lost.

champagne, and gives the kid a The Treasury Hons. Having given us these not buy the necessary foreign curren and the Bank know how the Fund bottle broke and all the liquor was terriblo whack on the head. The too encouraging snatches of in- cles.

stands, but nobody else knows. Robert formation, however, Sir

The strength of the Fund must

The baby was very put out what continues, pointing out that the

Pounds have to be exchanged on not be weakened by any knowledge downward trend was checked in their behalf for france and dollars, that its resources in gold, or dol-with being unconscious while his 1932 and that there is good pre-Foreign exchange dealers may even Jars, or franes,

parents were trying to ring a mat or sterling are neet for a rise in 1924.

full of champagne into a jug, and buy dollars from France, thus running low.

then having a headache for a week. having frst to buy francs.

Amy wasn't very pleased either The pound falls. VANISHING INVESTMENTS

This is known as the "seasonal When the Fund is eventually and told her husband straight that he had been extravagant. Now drain on Sterling." But in addi- wound up, which will be when cur there's trouble in the family an

again stabilised, tho Still, It is admitted that British tion to this drain, astute operatora rencies are

all because of this custom I am investments abroad are consis- all over the world, and men in profits will go to the taxpayer- tently dropping. Not that they other businesses who will shortly and we may take it for granted objecting to, Whilst no-one is likely to die- are at a low ebb, or anywhere want foreign currencies, knowing that, operating as it does with so | pute Brigadier-General Mitchell's near vanishing point, for they still that the pound must fall, begin to many advantages, there will be beer but now the kid refuses to total in the neighbourhood of sell pounds also. They sell, even profits. It must have occurred to right to advocate a strengthen- £3,355,000,000, But they have if they have not got Sterling In many people that if this Fund is ing of America's aerial fleet, the dropped some £100,000,000 in two their possession, knowing that be- properly managed, the £ should not general reaction arising from the years, more or less. It will be a fore declivery is demanded they can swoop down to these new "low for mutual congratulation buy the needed pounds at a lower records." To this feeling there manner in which he has chosen among British peoples when in- rato and pass them to the pur. are two answers. The Fund was to advance his thesis will surely vestors are once again in a posi- chaser. This further drives down not intended to check what may be meet with wideanread

diation to establish themselves upon Sterling. When the country was called natural and major changes

the green and grassy hills of high on a gold standard the Autumn in the foreign value of the £. It kid tight and he'll agree to any- approval. A more tactless utter credit, and new industry and drain Was almost automatically was not intended to wipe out the thing. If bo's anything like his ance at the present

onc of two juncture younger states can be sure of a checked in

ways. Autumn drain, for example. Also, father. If he doesn't it's not could scarcely be imagined, sympathetic response when they Either gold was sent from Britain it has to be used all round the Jack's concern-George.

lift up their eyes.

to pay for goods bought or the wicket-not merely against the "Fifty dirigibles could attack

Bank Rate was raised. Raising franc or the dollar. Japan, and in two days there would be nothing of Japan left." SANE JUDGMENT declared this ardent militarist, Lest there should be any doubts regarding General Mitchell's idea of the role which the United States Air Force should play, he wont even further by asserting that "when we design acroplanes.

AN INDISCREET UTTERANCE

we should design them with a view to making them capable of attacking Japan, just as Great Britain builds hers to attack Europe." The provocative nature of such an utterance, especially at a moment when there is so much loose talk of the possi- bilities of a war in the Pacific,

aay

It wouldn't have happened if it had been just a plain bottle of

be christened and Amy won't let

him be tied up and gagged for the

be proper. What would you sug- emony as she says it wouldn't gest that we do?--Worried.

*

Dear Worried, D'ont: Get the

DUMB BELLES LETTRES, the Bank Rate meant that money The Control must judge its

By Juliet Lowell. in London could carn a bigger moment. It must come in only if

Fire! Firel interest. Money was thus attract-a trend is going too far. It must

Cincinnati, Ohio. stay in only so long as is neces-

April 12th, 1933. ed. Pounds came into demand.

Bary. If it can, it must buy and Western & Southern Insurance aoil without allowing other buyers Company,

Kindly rush your agent to

In 1932-the first annual Bud-and sellers to recognise, its inter-Gentlemen: get after the crisis Parliament vention. authorised the institution-of-- a |--It-is-true-that-its-agents-are- me-at-once-with-a-fire-insurance- Fund to keep Sterling stendy. known, but it does not always use palley as my house is burning up.. That Fund operates through the the same agents. It must, if it Bank of England.

can, keep the value of the £ steady,

in session at Southport. We were The Labour Party Conference is warned a few days ago that the key-note of the resolutions which would be advanced for this thirty fourth gathering of the party; would be "Forward to Socialism. We were not shocked. There will come a time when another Labour Government ahuli sit in London, It took over a small balance from but it must also be able to ensure in all probability, and the prepara- an old dollar fund and it had bor that any attack on the can be tion of a conference agenda in rowing powers up to £160,000,000. stopped before the situation gets Sometimes to ensure which programmes and policies for In 1933 the amount of the Fund out of hand.

The this it must husband its resources, that day will be discussed and was raised to £350,000,000. decided. Is not n surprising Exchange Equalisation Fund is or stay its hand until the last pos were governed at the Bank by a num-alble moment, when speculators development, radicals and extremists on their ber of men who decide the strategy have exhausted themselves.

to Southport, and one of them, of the Fund, its general plan of Sir Stafford Cripps, had prepared application. Sir Ernest Harvey.

But there

*

There are, of course, other things

a number of particularly obnoxious the Deputy Governor of the Bank, is apparent. Nothing more cal resolutions which it was hoped to is at present commander-in-chief which affect the value of the E. swing through the Conference and in the absence of Mr. Montagu If, let us say, a French group haa culated to acerbate American-make a part of the Party policy. Norman. About him are the heads big funds in London, and finds a The extremist views of Sir Stafford of the appropriate technical depart-sudden heed for them at home, it

By his side he has Pro- met with scant response. Sir menta.

(Continued in Page 5). Stafford's plans for great reforma were solemnly voted on and it was found that, though he had support from 200,000 or so, there 2,140,000 "nays" between him and the fulfilment of ambition. What- ever else the Labour Conference may accomplish, that was a re-

Japanese relations could be con- ceived.

It is one thing to urge adequate provision for the pur- poses of defence, but quite an- other to plead for expansion with a view to rendering possible an attack on a specifically-named nation. Resentment will also be felt at the inference that markably fine bit of work. Britain's plans for strengthen-

ing her Air Force are based on

an intention to embark on ng-| A BIG BITE

gressive action in Europe. It is

possibic that the General had in

were

Cannda announces a scheme for mind Mr. Baldwin's recent the reclamation of a few million "Rhing frontier" declaration, but acres of prairies in Saskatchewan, to deduce any aggressive inten-Manitoba and Alberta. Once they tions from this simple statement were fine wheat lands, but often of changed conditions is utterly us not high winds or a dry season would put the farmer out of busi- to misinterpret it. All that Mr.ness. This season was the climax. Baldwin did was to point to the There had been no rain for five fact that since the days of the years and this year there was not acroplane, old frontiers have dis. even a satisfactory six-foot snow- appeared, with the result that, fall. So the Dominion Govern- for the purposes of defence, ment has decided it will do a bit Britain's frontier now lies on the Ten million acres to be watered of Irrigating in its bnck-yard. Ribe. So far from postulating before it will grow an onion! any aggressive designs, Mr. badwin's statement rests on a

belief that a bigger Air Force tion of the actualities to suggest is necessary for purposes of de- that Britain is building up an fence, not attack, and that the aerial fleet for the express pur- strengthening thereof should act pose of attacking Europe." axa brake on any warlike inten- Happily, there is not the alight- tions by other European nations, est indication that General Mit- British precautions are purely choll's views are in any way dofensive in character, a fact shared by official quarters in the which is well known on the United States. None the less, Continent. No other polley his indiscreet references to Japan' would for a moment be endorsed cannot fail to produce a most by the British people. In view undesirable effect in this part of of these facts, it is sheer distorthe globe.

"Why did you leave him 10 cents more than I told you to?”

Olivia P-

MEC A

TR; AND

14SURANCE

(signed)

AGENT

9-15

My house is burning up.

Ses Saw Marjorie Daw, Katahdin Pulp & Paper Co., Dear Sir:

I heres you was puttin up a new sawmill so I thought I would drop a line to see If you wanted a shingle sawyer. I guess I con saw as many shingle as the next лади. I have been sawing for four. year. If you want me please let mo know and when you will start. I shall come as soon as you want ma. Write noon and let me know what you think about it.

Signed-Peter L

Dear Sir:

Answer.

Referring to yours of the first instant, would say that we are not in need of a shingle sawyer at this time.

Yours very truly, Katahdin Pulp and Paper Co. Further Reply.

Dear Sir:

You wrote me a latter but she was so abort I don't know what to say. You do not any if you wanted a shingle sawyer, or not and when you was going to start. I guess you do not know anything about a shingle mall and I guess you do not know how 'hard. it is to get a good shingle sawyer, As you anawor me so jihort you can go flying plump to Hell you great big fool. Answer this if you Ilke to

Peter L. -Signed.