1935-04-12 — Page 17

THE HONGKONG TELEGRAPH. FRIDAY, APRIL 12, 1935,

"BEAR" TRADING No Grounds IN H.K. DEFENDED

DEPRESSION BY NO MEANS ARTIFICIAL

HEAVY OVERBUYING BY

"BULL" TRADERS

For Friction

In Pacific JAPAN AND U.S. AT

TRADE PARLEY

LATIN-AMERICA POSSIBILITIES

Washington, April 11.

JAPANESE HOSIERY INVASION

BRITAIN TALKS OF QUOTAS

HIGH TARIFF NECESSARY

London, Apr. 11.

RADIO BROADCAST

Dance Music by President Jefferson Orchestra

THREE STUDIO ITEMS

From ZBW on a wavelength of 355 motres (945 Rilocycles);

4-7 p.m. Chinose Programme. 7 p.m. Stock Quotations, After a conference with Mr.

7.03-7.33 pm. On the motion for adjournment

Light Orchestral Cordell Hull, Secretary of State, in the House of Commons, Mr. A..

Selections. and Mr. F. R. Snyre, Assistant M. Lyons, K.C., Conservative, to Secretary, the Japanese Ambas- dny asked whether Japancae com- sndor, Mr. II. Salto, issued a petition in the hosiery trado had general Japan-American

to the effect that not had a serious effect upon the

British market.

statement

trade

Answering recent criticisms of "Bear" activities on the local share market, a well-known broker, in the course of an interview, claims that the present scale of "borrow-relations had been under review. ing" or short selling is not by any means excessive,

The conversations were carried on in a friendly spirit and no causes for economic friction were <llscovered between the two

Sleeping Beauty-Waltz Liebestraum (Lazt).

(Tschaikovsky, Op. 68a). Songs without word Potpourri. Potpourri aus der Operette "Gasparono" (Millocker). Medley of Hornpipes. Medley of Jige.

Helen (Offenbach). Follow Through (Brown),

7.83-750 p.m. Vocal Gems.

He urged the Government to im pose a tariff which would make the entry of Japanese hosiery in- to Britain practically impossible, or to order prohibition of the Im-Rio portation of the product entirely. Mr. Charles Brown, Labour. favoured complete prohibition. Mr. B. L. Burgin, Liberal, Parliamentary Secretary of the Government, said the hosiery in- Board of Trade, replying for the

He added that the healthy trade) between the United States and Japan was

such that there ap them to negotiate a new reciprocal peared no immediate reason for trade agreement along the lines of dustry should apply for import the United States those being negotiated between duties to the Advisory Tariff

And thirteen Committee. or continuo other nations,

direct negotiations with the Japanese exporters. He pointed out that the employees in the industry not a part of the Government's could also make an application.

Professional "Bulls" are blamed for allegedly coming into the market and taking enormously overbought posi-countries. tions under abnormal conditions,, and then, having put the market up, finding themselves unable to dispose of their shares. The 'Bear, according to our informant, merely seizes the opportunity presented to him by following investors whom he knows will be sellers.

The statement that the present depression is artificial is contested, and in support of this statement it is pointed out that whereas the new rule requiring share numbers has virtually stopped short selling, the market is unable to hold to present levels. None the less, our Informant is not pessimistic about the future, contend-subjects discussed.--Renter. ing that if the market is not unnecessarily manipulated on the up-side, everything will come out all right.

Giving his views on the subject, FOLLOWING THE SELLER our informant stated that the opin- "The Bear' does not make it his lons expressed by a Cliy man in business to create an artificial Wednesday's Issue of the Telemarket; he does not entice people graph, concerning the activities of into buying shares which he him- "Bears," were enlightening, and self is selling short; neither does there was a particle, but only he growl when he loses, as he some- very small particle, of truth in the times must. Therefore, if such statements made.

opportunities are presented to him, There has been so much pub-as that which I have quoted, it is Hahod regarding tear setivities." not his fault. He feels that if one he said, "that the pulle should be ateck rises suddenly when every enlightened on the other side of thing else is quiet won't say the question. The position is not weak-and is giving a much lower half so bad as it has been painted | return, and in some cases no return in some of these articles. The at all, compared with other stocks scale of borrowing, or short soll-an the list, and that Investors will ing, has not been excessive," eventually take advantage of the Continuing his statement on the capital appreciation and sell, by subject, our informant anid: standing by the rules of the game and paying his full brokerage for services rendered, he is entitled to follow the investor whom he knows will be

"BULLS" TO BLAME

"We all realise that at present the market is not normal; there fore it would be better were it left alone and not be troubled with

remedies and articles attacking only the Bears', when, in actual fact, the fault definitely does not le with the investor (who under

He said that the possibilities of triangular trade, inolving the American nations was one of the United States, Japan and Latin-

REDS SUFFER DEFEAT

ATTACKERS LEAVE KWEIYANG AREA

Changsha, April 12.

Mr. Burgin declared that it wa

policy to have a quota or prohibi- tion of manufactured goods. He added that the Government was fully informed on the situation.- Reuter

TREATY MUST BE RESPECTED

(Continued from Page to

A Government communique was issued to lay claiming an portant victory over the Reds inversations of February 1 or, to Im- the of the Anglo-French con- the Hunan Province.

north-western Forner of

were

the

of the

recede from the obligationa already undertaken.

Rita McCarthy).

7.50-8 p.m. From the Studio, "A Weekly Review" by Sabrina. .6 p.m. Timo and Weather Report.

8.03-8.10 p.m. Organ Medley from "Tako a Chanco" and "Broadway thru n Keyholo" played by Terance Casey. R.10-8.40 p.m. From the Studio, Miss Ottilia Derwin and Miss Joyce Violin and Pianoforto Recital by Anderson.

1.

2.

Selection:

Programme.

The Student Prince

Violin Solos:

Romberg.

Thats Meditation .... Massenet.

Ттеса

3. Pianoforte Solos:

Polichinello

4.

Violin and Piano: Palo Moon

Rasbach,

Rachmaninoff.

... Logan. I hear you calling me.. Marshall. A Dream

Bartleit. 8.40-9 p.m. Band Selections. Zampa-Ovortaro (Herold). Hyde Park Snite (Jalowicz). A Hunting Sceno (Bucalost).

9-0.46 p.m. From the Studio. 36th Recital of Gramophone records by The Rev, C B. R. Sargent.

9.45-10 p.m. Octets. Memories of Chopin (arr.

Willoughby).

Silver threads among the gold My Sweetheart when a Boy (Morgan,

(Danks, arr. Willoughby),

arr. Willoughby).

10 p.m. Press Bulletins.

DRIZZLE AND MIST

I stated that Yangshun and ils

10,05-11 p.m. From the Studio, On the other hand it appears

Dance Music by the Orchestra of rounding districts had been

to be thought that before this.. President Jefferson, directed by recovered, following a neries of

country considers a engagements with the Reds, who which might go far beyond any-

commitment George Banning.

Programie, retreating toward

10.30 p.m. Rugby Mid-day Press thing hitherto contemplated, the News, Lorder, taken over by the units

The city of Yungshua.has bee German policy might well bo

preciso alm and object of the 11 p.m. Close Down. 2nd Division of the Government ploration prove abortive and should further explored. Should such ex- it be shown that Germany is not Kwelyang. April 12. "The public should realise that ments indicates that the

The latest report of Red move prepared to contribute to general Bears' are not, as is suggested, hoy of the Communists is croas- Proval would be conferred upon main European security, British ap- entirely the cause of the present

other powers! efforts to depression. To call it an artificialing the Ching-shul-he River in an the depression is nonsense. This can

establish their security. easterly direction. It appears

With regard to Chancellor troduction of the new rule requir-conjunction with other Red units

bateri.

nuller, when the rise has

army.—Central News,

East China, pressure being highest A moderate anticyclone covera near Shanghai. It is moving east. ward. The depression la passing into the Pacffe to the North-cast eastward across North Manchuris. Local forecast: East winds, fresh to moderate, generally overcast, drizzle and miat.

all circumstances has to take his be proved by the fact that the in-that they will attempt to effect | Hitler's view that Germany is in of Japan. A dopression is moving

WILL RIGHT ITSELF

-The

SIMON REPORTS

chance), but with the professional

Bulls who come into the market ing numbers has virtually stopped on the Hunan-Kweichow border. an inferior position as long as she occasionally under the guise of short selling; yet the market will The Government troups are in hotla without her colonies, there is good Samaritans, take enormously appears unable to hold at present purauit.

no tendency in London to regard everbought positions in a market levels. We must all realise that surrounding districts are now but there is

The city of Kwojyang and its Germany as unit to possess them, which is not normal-and therefore there is a depression. There is no-

no disposition-to not ready for market manipulation use in trying to fool ourselves that beyond all danger of further Com-bandy about territory for political on the long side and, having put there is not. But there is no need munist invasion-Central Newts. | vcasong--Router Special.

was fully presented to France and the market up, find they have load- to be pessimistic about the fature.

RED LEADER SLAIN

Italy at the conference which ed themselves with shares which Provided the market is not mani-

opened here to-day. are difficult to unload under abnor-pulated unnecessarily on the up-

Kwelyang, April 12.

London. April 11. mal conditions.

side, present share prices will prob- Escaping in heavy rain, the

The Reuter diplomatic corres- three-Power Conference pondent understands that the These Bulls' overlook the fact ably prove to be as near bottom as Communist armies are making began on Isola Bella off Stresa statement included a declaration that they have given the opportun-ever they will be, or, at any rate, westwards and are about 120 to-day. At the opening session that Great Britain would do every- ity to many investors and genuine within a very small margin

south of this city, pursued by the twelve seats around the large thing in her power to strengthen holders to unload their shares on possible decline.

Government troops. No aero table in the Conference Room them, and then, finding they can-

plano pursuit is possible owing to were occupied by Signor Mussolini, proposed between Britain, France the administration of solidarity not unload, they turn their atten- tion to the unfortunate 'Bear', who, during this period: the market will Chu-teh has been confirmed by Sir John Simon, Sir Robert Van-

"Matters should be left alone the low calling.

Baron Aloisi and Signor Suvich, The death of the Red lender for Italy; Mr. Ramsay MacDonald, and Italy. taking a view-a ten per cent. right itself when everybody reprisoners. He was view only that their operation as alises that trade and conditions action several days ago and has tary for Foreign Affairs and Mr. interest of its

wounded in sittart, Permanent Under-Seere- should make any assumption in the It was felt that no country planned was inopportune, sells generally are improving, when he has the opportunity and "Dame Rumour has not been

since succumbed-Reuter,

Strong, who accompanied Mr. Eden France, Italy and Britain could be own polley that takes his chance,

responsible for the misfortunes of

on his tour to Moscow. Warsaw divided on matters calculated to "Why, therefore, should Bear ke blamed for using his than for the prosperity of the the the Cement Company, any more

nd Prague, for Britain; and strengthen the peace of Europe. Messieurs Fiandin, Laval, Noel common-sense when positions are Electric Company, Facts should

and Legere, for France. created out of all sense of proporbe faced, and it is obvious that any

Britain was willing to contribute The first business was to hear to the forwarding of collective tion by professional Bulls and it artificial attempt to put things

from the British Foreign Secretary security in every way practical, is obvious that they have gone too right in five minutes will only have CHINESE EXPORT TAX And Mr. Edon had paki to the made it clear that Britain was n full account of the visits he and the British Ministers also European capitals. This was given striving for scales of armaments in such detail as to occupy nearly and was willing to allow League. an hour and a half after which supervision to ace that such com- information on certain points in Sir John Simon supplemented his mitments were carried out. which the Italian and French de Ierest. legaten displayed particular in-

far?

a disastrous effect on the market. "To give an example, a well-The least said and done at present, known stock was recently manipu-the better.

DUTY FREE FISH FOR HONGKONG

REMOVED

Canton, April 12. The petition of the Hongkong to fish importers for complete exemp on all

GOOD BEGINNING

There is a goneral feeling in A further session was held in British circles that a good begin-. ho late afternoon, when M. ning has been made and that no orandum to be laid before next made itself manifest between the Laval presented the French mem-disagreement in principle has Monday's special meeting of the three powers.' League Council, convoked In res

'lated from $3 to $11, for no "To sum up, it is just as detri- apparent reason, whilst other mental to stocks of the same class offering bull a market artificially as

market interests to at between seven and eight per bear it artificially. Constructive tion from Customs duties cent. were neglected. The conse-measures either way are what isfish, has been accepted by the Can- quence was that the market reacted needed. to the 39 level, which Was Ita A letter on the subject from a

ton Customs Administration, on natural level, when compared with reader appears to our correspon-

orders from Nanking. other stocks.

dence columns to-day.-EdH.K.T.) test against the Customs duty im- It will be recalled that in pro- posed on fresh. Alah exported to Ilongkong from Canton the Hong- kong importers suspended Imports ponse to an appeal by France discussion was THE WEALTH OF MAN IS THE

The last part of the afternoon's. Mr. and Mrs. J. Scott Harston and tory settlement. Hereafter, the the League Covenant, to examine is understood that this is regarded for some time pending a satisfac- based on. Article XI, Part One, of French appeal to the League. It devoted to the NUMBER OF THINGS WHICH HE Mas Pamela Scott Haraton are leav-people of Hongkong can enjoy the LOVES AND BLESSES, WHICH HE 13 Ve for Home to-day by the sa. Conto cheap supplies of fresh fish from relations resulting from Germany's 45 purely French-document LOYED AND BLESSED BY.-Carlyle, Verde,

threat, to peace and. good Canton-Central News.

unilateral denunciation of the conference and it is emphasised which will not be reshaped by the Versailles Treaty.

DAY BY DAY NEWS IN BRIEF

On charges of the possession of o quantity of illicit opium and keen ing a diran at 111 Tainam Street, Shamshuipo, Lau Pun, 30, unemploy ed, was fined $376, or four months hard labour by Mr. Wynne-Jones In the Howlaon Magistracy this morning.

Defendant admitted a previous con-

tor A. R. Clarke, Principal of the. A dinner in honour of Chief Inspec Police Training School, who is going Home on retirement on will be held at the Police Club, Happy April 20, Valley, on April 17 at 8 pm.

·SELECTORS OF TEST TEAM

COMMITTED'S HEAD

;

tho

ΤΑΝ

SHOES

Canvas or loather $5.50, $17.50

WHITE

SHIRTS

Open neck. Short sleeves $3.00, $5.00 WHITE BELTS Canvas or art slik $2.00, $3.50 VIYELLA SOCKS Plain or

ribbed $1.50, $1.75 SCARVES White or coloured $2.00 to $5.50

All prices teen 10% discount for cash.

Correct wear for BOWLING

MACKINTOSHS TD

MEN'S WEAR SPECIALISTS

CHEVROLET,

THE STANDARD SIX COACH

FULL BIG CAR COMFORT AND CONVENIENCE CHARACTERIZE THE COACH.

Amongst its features are extra roominess and adjustable. 'driver's seat. The Fisher No-Draft Ventilation and screened, cowl ventilator protect health and promote comfort in all, weather. The low operation cost and upkeep combine to make the Chevrolet Standard Six Coach a particularly sound investment.-

COMPLETE WITH SPARE TYRE AND TUBE AND STANDARD, FACTORY EQUIPMENT

HK$1710_NETT CASH.

FAR EAST MOTORS

CẦN

26, Nathan Road, Kowloon,

Telephone 59101.

"BRING IN THE RADIO!”

Wherever you are you can take perfect radio, with you, for EKCO Model 95 will give you broadcasting without aerial or earth. It needs

only to be plugged into an electric light or power socket in any room. This handsome model gives you radio as you like it and where you

like it.

Ask for a demonstration, THE ANDERSON MUSIC CO., LTD. Ice House Street:

Just Another Day!

If you feel this way when you wake. up to the morning It is a suro indica tion that your liver is out of order and needs toning up.

Pinkettes will do this. Take a dose to-night, when you go to bed, and nea the diference it will make, to your outlook to-morrow morning.

For that red feeling, verishnos, billousness, or if you lack appetite, Pinkettes are just the thing for you.

The text of the resolution to be must be accompanied by conditions These tiny laxative pills gently stimu

It is understood that the mom that there is no question of the orandum, while not demanding three powers presenting direct condemnation of Germany, League with a fait accompli.. The points out that "Gorman methods question of Germany's return to render international collaboration the League was also raised and in cathing from the occupants of the MB, P. F. WARNER AT dieut."

On a charge of buriary and stealing

If not impossible at least mont this connection there is no feeling viction for a similar offence in 1930-second floor of 402 Shanghai Street,

on the British part that this move when the divan was at 110 Tafnam in the early hours of Sunday morning, Street.

two men, Cheung Shing

introduced by France was also harm than good,

which might possibly do more and Ho Fung Ki, unemployed, was

discussed by the Conference and fined Wynne-Jones

Chuen, pleaded guilty before Mr. $40, or one month's hard labour, by Magistracy this morning and warn appointed Mr. P. F. "Plum" War-may be agreed upon for introduc

at. the Kowloon

it is thought possible that a joint The Cricket Control Board has resolution by the three powers Mr. W. Schefteld, at the Central sentenced Magistracy this morning, on a charge labour ench. Detective-Sergeant ner, chairman, and Mr. Percy tion at the Council meeting.

three months' hard of stealing a wrist watch, the property Kennedy stated that the second do. Perrin and Mr. P. Higson, as a Britian Wirdess. of Fong Nam, engineer, from No. 60 fondant entered the floor by inserting committes for the Main Street, Shaukiwan Wast, yester-hia hund and fting the bolt of the choose the Test Teams to meet day. The defendant was invited into staircase door. The first defondant South Africa and India during the the floor by He Lo, a friend of his kept watch and later took the clothing next two seasons. and while to Le was in the kitchen to pawn. Ho Chuen admitted a

go stalo the watch,

to

pravious conviction for stealing,

London, April 11.

selection 'to

BRITISH POSITION

Stress; April 11. Mr. Waruor saccoeds Bir The British position regarding Stanley Jackson Reuter Special...

the problem of peace and security

inte the liver, aid digestion, dispel constipation, aweeten the breath, pro- vent pimples and bolis. Don't give way to depression but Lake Pinkeltes. Obtainable at all chemists, Pinkettes

class connection of the Franco-keep you well. Pact was also reviewed and the The problem of the Eastern

Russian understanding.

The question of Including Gory many in the present :· conference was'not rafsed.

The meeting lasted two hours and a half and according to Italian circles the atmosphere was notably

friendly.

It la possible that the conference may oxtand over Saturday and this is regarded as a sign that the discussions are proving of value.

Reuter.

COTTON

Tel: 21322.

STOCKINGS

IDEAL FOR SUMMER WEAR IN WHITE OR KHAKI $1.50 a pair

Less 10% cash discount

Lane, Crawford, Ltd. Men's Wear Stylists.

ì