1934-10-04 — Page 6

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.

THE HONGKONG. TELEGRAPH.

ON LEAVE-

'A Message

to the Home-going

Motorist ..

-WITH A CAR “VAUXHALL”. The car of super-refinements with no price equal !

"Light Six" Saloons Standard

£210

Do Luxo

£230

A. S. WATSON & CO., LTD. "Big Six"

ESTD. 1841.

THE WORLDS TAGE

ONTHENEW

Datterson

ALL WE SUPER-HETERODYNE

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 por pair.

All Goods Less 10% Cash Discount.

Lane, Crawford, Ltd.

Phona 28151.

Men's Wear Department.

Six Linos.

£325

Demonstrations

with pleasure'

THURSDAY, OCTOBER 4, 1934.

NOTES OF THE DAY WHAT HAPPENS WHEN The Very Idea!

REASSURANCE

STERLING SLUMPS

By COLLIN BROOKS

in The "Banday Despatch.”

CHRISTENING BABY

(By George)

No matter what happens, we have Mr. Chamberlain's reassur- ing words, spoken before London bankers and merchants. He has

THIS is a special article no fears for the safety of the

Henry Clay, Professor for men who go down pound. He has every coalidoncs "THE £ touched a new low fesor

record against the franc, and Clay is listed in the books of re to the sea in ships. Those in the strength and future of the

оло of tho Sterling Bloc. He believes in Im-gold reached a record high price." ference merely

This sentence, Important and "officinis,” he le economic who have been down for the perial economic

co-operatio Everything is going

serious as it is, has grown almost adviser to the Governor, a post to third time won't read it but which he went from a similar still there's a good number monotonous recently.

There is a picasing harmony in Mr. Chamberlain's tune with that Aung a few weeks earlier by Sir Robert Kindersley, whom 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 'merost suggestion of a discord in the additional remarks | of Sir Robert when he indicates the decline in British Income from oversens Investments, in spite of this greater stability, this increase in price and the generaliv im-1 proved condition of trade.

Special arrangements extended to the motarlet glas on Home furlough for delivery in Landon and use at Home and sabesco STEADY DECLINE re-delivery. In Hongkook at above ILK. Landed priven;

Deferred Terme-Rovarehuse-Licence a in surance ranged. Full particulars on AD- Dilation.

HONGKONG HOTEL GARAGE SHOWROOM

Phone 27778-9.

The

Stubbs Rd.

Hongkong Telegraph.

THURSDAY, Ocr, 4, 1934.

AN INDISCREET UTTERANCE

but

"The Control later came in and position with the Bankers Indus- atendied the market."

Again, the sentence hus become a commonplace in the newspapers, The ordinary man, remote from the Foreign Exchange market and not engaged in business that in- volves the use of foreign curron- cles, may well wonder what it is all about.

trial Development Company yet who would like to be

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

The Bank of England is noted for Its secrecy and aloofness. Its methods are velled, and rightly so, sinco the thoughts and movementa

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

to He writes

Ug thuawlae:

Any explanation must go back to certain elementary principles.

When a trader buys goods from of the headquarters of any defence "Dear George, As a snit of many.

seasons I wish to reglater my foreign country he must also buy force should be secret. This is, in

broad outline, what happens: objection to the wastoful custom of the foreign money of that country

When the foreign exchange mar-christening ships with champagne. with which to pay his bill. If I buy goods from a Frenchman, heket is confronted by a falling What about na poor sailora? Somic of us weren't christened at all' and wants not my pounds but francs. officer of one of the banks which must buy those francs. If more are used for exchange dealing by francs are wanted than pounds in the Bank of England will get a the money markets of the world, quiot telephone message asking the francs will go up in value and quotation for francs.

**764-76%, perhaps will come pounds will fall. This is just

the reply. supply and demand operating.

Every

"Ah, then you might well on our autumn Britain

[so many]." The or-

those that were swear that water WAB used when they left the ships.

Just to show what bad habit it la I should tell you of a terrible tragedy that happened in our family a little while ago. Jack. that's my elder brother, came home

For instance, the 1933 Incomo from British investments across the water amounted to the very considerable sum of £160.4 mil-large sums abroad, and particularly account.... Inan. If you go na far back as to Amerien, for raw materinis der is executed. The Control is from a very long voyage and found 1929, according to the same au- which she has bought. The bills in the market." The price of that his wife had just got a baby 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 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 and the British goose hung high, raw materials come at a particular Speculators are rebuffed, if not been christened. "Not yet," says you will find that the overseas time. When British tradera have defeated. It will be realised that Amy (that's his wife) and Jack revenus amounted to £230.9 mil- to pay for their goods, they must in this delicate dealing money may goes straight out, buys a bottle of champagne, and gives the kid n Hon. Having given us these not buy the necessary foreign curren- be made or lost. The Treasury terrible whack on the head. The

and the Bank know how the Fund too encouraging snatches of in- elea,

stands, but nobody else imows. bottle broke and all the liquor was formation, however, Sir Robert

The strength of the Fund must wasted. that the continues, pointing out

Pounds have to be exchanged on not to weakened by any knowledgo

The baby was very put out what downward trend was checked in their behalf for franes and dollars. that its resources in gold, or daf-with being unconscious while his 1932 and that there is good pris-Foreign exchange dealera may oven lars, or francs, or sterling are

parents were trying to ring a mat nect for a rise in 1934,

buy dollars from France, thus running low.

full of champagne into a jug, and having first to buy francs.

then having a headache for a week. The pound fails.

Amy wasn't very pleased ofther

•

VANISHING INVESTMENTS

to

The Control must judge its

a bigger moment. It must come in only if

•

•

By Juliet Lowell. Fire! Fire!

a trend is going too far. It must

Cincinnati, Ohio... atay in only so long as is neccs-

April 12th, 1933: sary. If it can, it must buy and Western & Southern Insurance sell without allowing other buyers Company,

This is known as the "seasonal When the Fund is eventually and told her husband straight that drain on Sterling." But in addi-wound up, which will be when cur- he had been extravagant. Now Still, it is admitted that British tion to this drain, astute operatora renelos are again stabilised, the there's trouble in the family and inveatments abroad are consia- all over the world, and men in profits will go to the taxpayer all because of this custom I am 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 dis-

are at a low ebb, or

It wouldn't have happened if it anywhere want foreign currencies, knowing that, operating as it does with ao had been just a plain bottle of 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 kids better to right to advocate a strengthen- total in the neighbourhood of self pounds also. They sell, even profits. It must have occurred

be christened and Amy won't let. But they have if they have not got Sterling in many people that if this Fund is him be tied up and gagged for the £3,356,000,000, |ing of America's aerial fleet, the dropped some £100,000,000 in two their possession, knowing that bo- properly managed, the should not

general reaction arising from the years, more or less. It will be a fore declivery is demanded they can awoop down to these new "loweremony as she says it wouldn't What would you sug- day for mutual congratulation buy the needed pounds at a lower records." To this feeling there he proper. manner in which he has chosen among British peoples when in-rate and pass them to the purate two answers. The Fund was Best that we do? Worrica, to advance his thesia will surely vestora are once again in a poal- chaser. This further drives down not intended to check what may be meet

Dear Worried, D'ont. Got the with widespread

tion to establish themselves upon Sterling. When the country was called natural and major changes dis. approval. A more lactless utter- the green and grassy hills of high on a gold standard the Autumn in the foreign value of the £. It kid tight and hall agree to any credit, and new industry drain Was almost automatically was not intended to wipe out the thing if he's anything like his ance at the present juncture younger states can be sure of a checked in one of two ways. Autumn drain, for example. Also, father. If he doesn't it's not could scarcely be imagined, sympathetle response when they Bitter gold was sent from Britain it has to be used all round the Jack's concern.-George.

lift up their eyes. "Fifty dirigibles could attack

to pay for goods bought or the wicket-not merely against the Bank Rate was raised. Raising franc or the dollar.

DUMB BELLES LETTRES, Japan, and in two days there

the Bank Rate meant that money In London could earn would be nothing of Japan left," SANE JUDGMENT declared this ardent militarist.

intercat. Money was thus attract- Lest there should be any doubts

ed. Pounds came into demand.

regarding General Mitchell's idea of the role which the United States Air Force should play, he went even further by asserting that "when we design aeroplanes, 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 an much loose talk of the possi- bilities of a war in the Pacific, 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 £. through the Conference and in the absence of Mr. Montagu If, let us say, a French group has culated to acerbate American- make a part of the Party polley, Norman. About him are the heads big funda in Londen, and finds a

awing

Japanese ralations could be con-

The extremist views of Sir Stafford of the appropriate technical depart-sudden need for them at home, it met with scant response. Sir ments. By his aida he has Pro-} (Continued 18 Page 6) ceived. It is one thing to urge Stafford's plans for great reforms) adequate provision for the pur- were solemnly voted on and it was poses of defence, but quite an- found that, though he had support other to plead for expansion with from 200,000 or so, there a view to rendering possible an 2,146,000 "nays" between him and attack on a specifically-named the fulfilment of ambition. What- nation. Resentment will also be ever else the Labour Conference may accomplish, that was a re- felt at the inference that markably, fine bit of work. Britain's plans for strengthen- ing her Air Force are based on

in session at Southport. We were The Labour Party Conference is warned a few days ago that the

In 1932 the first annual Bud- and sellers to recognise its inter-Gentlemen: key-note of the resolutions which

Kindly rush your agent to, would be advanced for this thirty-get after the crisis Parliament vention.

authorised the Institution of a It le true that its agents are mo at once with a fire Insurance fourth gathering of the party, would be "Forward to Socialism." Fund to keep Sterling steady known, but it does not always use policy as my house is burning up. We were not shocked. There will That Fund operates through the the same agcats. It must, if it can, keep the value of the £ steady, come a time when another Labour Bank of England. Government shall 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 $150,000,000. stopped before the altuation gets which programmes and policies for In 1938 the amount of the Fund out of hand. Sometimes to ensure that day will be discussed and was raised to £350,000,000. The, this it must husband its resources, decided, is not a surprising Exchange Equalisation Fund is 2r stay its hand until the last pos development. But thero were governed at the Bank by a num-aible moment, when speculatora radicals and extremists on their ber of men who decide the strategy have exhausted themselves. way to Southport, and one of them, of the Fund, its general plan of Sir Stafford Cripps, had prepared application. Sir Ernest Harvey,

an intention to embark on ag- | A BIG BITE

gressive action in Europe. It is possible that the General had in

were

Canada announces a scheme for

mina Mr. Baldwin's recent the reclamation of a few million "Rhine frontier" declaration, but neres of prairies in Saskatchewan, to deduce any aggressive inten- Manitoba and Alberta. Once they tions from this simple statement were fine wheat lands, but olten of changed conditions is utterly as not high winds or a dry season would put the farmer out of Busi- to misinterpret it. All that Mr.

Boss. 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 aeroplane, 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 back-yard. Rhine. 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 actúalities to suggest i 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. as a brake on any warlike inten- Happily, there is not the slight- tions by other European nations, cat indication that General Mit- British precautions are purely choll's views are in any way defensive in character, a fact shared by official quarters in the which is well known on the United States. None the loss, Continent.

No other policy his indiscreet references to Japan would for a moment be endorsed cannot fall to produce a mort by the British people. In view undesirable effect in this part of of these facts, it is shisor diator. the globe.

There are, of course, other things

"Why did you leave him 10 conte more then I told you to?”

GETHER

piko

Olivia Prom (signed)

AGENT

9-15

*

My house is burning up.

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

I heres you was puttin up now sawmill so I thought I would drop a line to see if you wanted a shingle sawyer, I guess I can: saw as many shinglo as the next man.

I have been sawing for four year. If you want mo plenso let me know and when you will start. I shall come as soon as you want Write aoon and let me know. what you think about it.

Signed-Peter L

.me.

Dear, Sir:

Answer.

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

Yours vary truly, Katahdin Pulp and Paper Co.

Dear Sir:

Further Reply.

You wrote me a fetter but. she was so short I don't know what to say, You do not say it you wanted a shingle sawyer or not and when you was going to. atart. I guess you do not know. anything about a shingle, mill and I guess you do not know how hard. It is to get a good shingle anwyer. As you answer me so short you can go flying plump to Hell you great big fool. Answer this if you like to.

Pater