1948-04-07 — Page 8

ALEXANDRIA QUIET AGAIN

Alexandria, Apr.

a-Alexan-

dria. the second elly of Erypt. was tonight almost track to normal alter its 36 hours of disturbances { over a police strike which cost, Recording to official figures, 29 lver and 220 injured.

An occasional shot was.still heard Until the curfew hour of seven o'clock, by which time the Inhabl tants had, for the accond night, to be indoors, but the tension bad lessened and citizens hoped they would be able to return to a normal life tomorrow.

While the police, at the end of their strike, were taking over their duties from the military, there were still a fow efforts by youths and a number of lonters were arrested.

COSTLY LOOTING

Looting. in which uniformed figures were seen taking part, hus thousands of cost shopkeepers pounds sterling.

The looters, who sometimes fought division of the spolis, over the

opened a secret

market in which

Jet-Powered

Air Liner'

Wisley, England, Apr. 6. -Vickers Armstrong claimed the world's first flight by an all jet-powered air liner today.

The makers said that a Viking powered by "two Rolls Royce Nene turbo-jot ongines made its maiden hop with Capt., K. "Mutt" Summors. Vickers' chief test pilot putting the plane through its paces for 20 minutes.

No figures were given on Its speeds.

The Viking carries 27 passengers when powered by conventional petrol en- gines.Associated Press.

Bickering

they sold many articles, including Over Arms

silk shirts at 3/- each.

A perfume shop was broken into

and

bottles of expensive sinnshed on the roadway.

Responsible

perfume

Alexandrians C6- timated the damage in the city several hundred thousand sterling. including Foreign shopkeepers, Greeket, Balians, Jews and British, were speculating whether they had

claim ngainst the Egyptim Government for the losses sustained.

1

-Router.

NOTICE

THE HONGKONG AND

WHARF AND KOWLOON GODOWN COMPANY, LIMITA EI)

Notice To Shareholders

t

ADOPTION OF NEW ARTICLES

OF ASSOCIATION

Reduction

THE HONGKONG, TELEGRAPH,"

WEDNESDAY, APRIL 7, 1948.

Stafford Cripps's

Startling Budget

(Continued from Pare 1)

(Continued from Page 1)'

These changes were estimated to There was a saving of £400 millión, yield £20 million in a full year and Against this there was an increased 10-1/2million this year.

for £30 million

BETTING: The collection of the expenditure of education, £14 million for housing, betting duty had proved "easy and £8 for the post office, and £143 profitable." Ha proposed to in- million for the new health services.crease -a total of £195 million, or roughly half the total saving.

"We do not propose to cut social services," he declared.

For defence, £803 million was provided.

FOOD SUBSIDIES

Food subsidles would be continued at the rate of £460 million a year, "we are convinced that, because although in theory they may be in- flationary, In practice they have a precisely opposite effect."

They restrained the demands which would otherwise Inevitably arise for Increased personal Incomes. The Rubaldy was equal to about 12/- to 14/- a week for every family. In addition, there was at least i like sum on social services.

1948-48

the

duty on football and to similar pools from 10 percent 20 percent after today,

He did not propose to increase the tax on dog track totalisator bets.

There was, he said, a feeling that the betting duty should be extended to cover all other forms of betting, on and, off the course.

That would be equitable, but could not be introduced without a radical alteration of the gambling law. "It is not my intention in In- troduce such a scheme now. I am considering the matter

with the

Coal Strike

Spreads

Pittsburg. Apr. 6 America's soft coal strike, alteady affecting 400,000 soft coal miners, spread to day to the East Pennsyl- varilari anthracite field.

The minors reported for duty, but were refused work at a dozen collieries in this section of the coalfield.

A preliminary chock showed that nearly 6.000 men were idle. A United Mineworkers, official said the stoppage was "appa- rently in sympathy with the

bituminous miners.' Reuter.

Japanese

Home Secretary, but there are deep Recovery

differences of opinion among public."

the

BOOKIES TO PAY UP Bookmakers operating on the dog The total revenue on the existing

competing with hasis of taxation was estimated at tracks who were

pay n gradunted An ex-the tolo would £3,754 million as against Lake Sucess, Apr, 6-Andrei penditure of £2,076 million, or a licence for each meeting. Occupiers Gromyko today necused the prospective surplus of £778 million, of the race-tracks would be respon As last year, he would take powers sible for collecting it and paying it

the budget surplus as it to

to the customs: This would come United States and Britain of

to the reduction of the into force on the 10th day after the accrued sabotaging the United Nations to apply

Budget received the Royal assent. maturing deist, programme of arms reduction.

The expected "real surplus" of These changes in the betting tax Speaking at a closed meeting of

on the existing basis of would yield £1 million in a full the Cominission on Conventional

£500 year and £8 million this year." Armaments, the Soviet Delegate said Taxation would amount to

Purchase Tax-The various gratles It was useless to discuss the British million.

On the imitation of profits which of the tax would be rearranged and vecotation-on-arms-reduction since

The Government had renested-implified no agreement can be reached on it.

more goods bearing The American delegate, Frederick from industry to match the stabilisa

tion of wages, Sir Sinford said: 100 percent tax evasion was wide. were driven on to Osborn challenged a Soviet decinra-

leave the matter spread. Goods "I propose to tion that the United States and until next year, by which time we the black market. Therefore, those 125 percent Jax Britain are leading un armas race. shall see whether the promises not now bearing | ~Aszarlated Press.

to increase the distribution of pro-would be brought within the 100 per- Osborn declared that available in-ts have been thoroughly carrie! cent, category. formation showed that Russia was out."

as much of incoine on urmaments than the United States.

EYER, twice

her

The Commission decided to meet on Apr. 13 10 continue discussion of the British arms reduction plan. Associated Press.

NOTICE

RONGKONG ANTI-TÙHER- CULOSIS ASSOCIATION

Applications are invited for the Preference of Secretary.

Notice is hereby given that an Extraordinary General Meeting of the Members of this Company will be held at the Office of Messrs. Jardine, Matheron & Co. Ltd., Pedder Street, Hong Kong. on Wednesday, 28th April, 1948, at 12.15 p.m., or at such lime as the Ordinary Annual Meeting of Members lo be held at the same -place at Noon shall terminate,

for the purpose of considering | post and, if thought it, passing the will be given to applicants with following Sperful Resolution:-

secretarial and organizing experi- "That the New Articles ofence. A knowledge of both Eng- Association. produced to Meeting, and for the purpose of lish and Chinese is essential. he provided if Identifienfion anbscribed by Quarters will David Fortune Landale, Chair-necessary. Applications stating man of the Company and of the Meeting, be adopted u the qualifications, experience Articles of Association of the salary required, should be for-

the

and

On

razor

tlinu

Some reduction would be made by moving from 50 percent to 33-1/3

number ONE DUTY ABOLISHED

percent a

of goods in- machines, "marked re- cluding

gloves, washing There had been a

and sponse" to the Government's appeal, ironing boards, knives, forks

stationery,

blades, were alrendy spoons, and many reductions in operation. The consumers' opera- tooth brushes, and sports goods.

Goods at present chargeable at 50 tives, in particular, had announced "most valuable" price reductions in per cent, which would go up to essential foodstuffs, which, he hoped, 06-2/3 percent, would include cloth, other than utility, non-utility fur- others to follow. would

furnishings, cameras, Sir Stafford raised a laugh by ulture, soft

to abolish the photographic films, and musical in- saying he proposed

than organs. excise duty of 8d a gallon on un-struments, other

He would widen the number sweetened table waters.

exemptions from the tax on medicines to Include a wider range of non- proprietary articles.

It was not worth the trouble and

collect it, he said. manpower to

He then proposed to extend the key industry governing legislation clutics

three years. for another These duties were originally levied at the end of the first World War on essential industries, such struments, to protect them against chemicals, optical and scientific In- foreign competition.

KU

He also proposed to extend for a further four years the provision for

the

оп margin

the Imperial Preference on sugar which stabilising expires next August.

MAJOR PROPOSALS Sir Stafford then announced his

majur proposals us:

ALCOHOL The gate of beer duty would be increased to the equivalent

~Company-in-substitution-forwarded-to-the-undersigned.not of one pennya pint of beer of

and to the exclusion of all existing Articles of Association later than 22nd April, 1948.

of the Company.”

A copy of the Proposed New Articles can be inspected by any Shareholder at the Offices of the Company during the usual oflee

hours.

By Order of the Board of

Directors,

C. E. TERRY, Manager and Secretary. Hongkong, 5th April, 1948.

NOTICE

AND

THE HONGKONG AND KOWLOON WHARF GODOWN COMPANY, LIMITED

Notice To Shareholders

Ordinary Annual Meeting

Notice is hereby given that the Fifty-seventh Ordinary Annual Meeting of the Members of the Company will be held at the Ofea of Meaars. Jar me, Mathe- son & Co. Ltd., Pedder Street, Hong Kong, on Wednesday, 28th April, 1948, at Noon, to receive and consider the Report of the Board of Directors and State- ment of Accounts for the year onded 31st December, 1947, to elect Directors and to appoint Auditors.

Closing of Transfer Books Notice is also given that the

Register of Members and Trans-

S. N. CHAU,

Chairman.

Hongkong Anti-Tuberculosis

Association, China Bullding, 1st Floor, Hongkong.

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average strength

There would be a corresponding increase of £1 a proof barrel of whiskey, rum, and other spirits. That would be equivalent of 3/4d on a bottle of whiskey of the usual strength.

The

increase would not apply

to perfume spirits.

There would be a general increase in the rate of duty on wines cor-

responding to those for beer and spirits.

crease

For heavy forelyn wines, the in- would be the equivalent of 1-a bottle and for light wines 6d. The rate on heavy. wines from South

Australia and other Empire countries would re- main unchanged at the present level.

Africa and

of

The reduction on stationery of all kinds should help education, he said. The new rate would come in on April 9.

TAX ON CAPITAL.

gestions had been put forward for a

SPECIAL LEVY:-Varlous sug-

capital levy, but from an administra- tive point of view, a capital levy In the ordinary sense of those words was Impracticable

at present:

On the other hand, it was "un- doubtedly right" that those with large capital assets should make some contribution

country in this emergency.

to help the

Some

were now spending those assets in a distinctly Inflationary in

manner

its ef

effect.

Programme

Washington, Apr. 0.-Wiliam II. Draper Jr., Under-Secretary

of

the Army today disclosed plans for a Japanese recovery programme he Fald might continue for four years.

today from

1

Draper returneck visit to the Far East.

ile sald that US$150,000,000 for the Arst year of the programme is a beginning in an attempt to restore Japan to prewar trade standards.

The-money-to-which-he referred is part of US$220,000,000 already pro- osed to Congress for use in Japan, Korea and the Ryukyus Islands.

Asked at a news conference whe-

thinks that ther he

amount will bring recovery, Draper replied:

"I believe we will be surprised to see how much that amount will do," Pressed for un estimate of the total length and cost of the programme, he agreed that it might extend over approximately the same period as the European ald programme--four years.

He said, however, that no definite division had been made on the length of the recovery drive.

on his Draper was accompanied visit to the Far East by Paul G. President Horry Hoffman, whom "Truman today appointed Director of

the foreign aid programines,

Other members of the Business Advisory Group just returned from the Pacific sat with Draper. formal statement the group said it has concluded that a recovery pro

order that gramme is "essential In we can reduce and eventually elimi- nate spending" for relief In Japan. Korea and the Ryukyus-Associatesi Press.

Watches Justice Dispensed

London, April 6-Mrs Eleanor Noosevelt, who is in England to un- vell a memorial to her husband on visited a juvenile April 12, today court in London to hear how British He therefore proposed-to-make-a-justice is meted out to erring child- special "once for all" levy which ren of London.-Reuter," would be largely payable oul of capital, and would be based on the Investment Income of individuals for the year 1947-40.

Investment Income for this pur- 1. pose would include all rents, vidends, interest and other pay-

ments.

The contribution would apply only income where a taxpayer's

£2,000 from all sources exceeded

in- and In addition his investment come exceeded £250.

10/- IN £ MAXIMUM The contribution would be 2/- in the pound sterling on investment in- coma from £250 to £500, rising to a maximum of 10/- on en investment There would be corresponding income exceeding £5,000. British changes in the rate for wines-the equivalent of Gd a bottle for light" wines and 1/ bottle on the heavy types.

The new

rates

of duty would come into force from tomorrow.

They were estimated to yield an additional revenue of £45 million in a full year and £41 million In 1048-49.

1

It would not fall on capital in Britain owned by people who were neither resident or domiciled ah

would cost £40,500,000 in a full year and £40 million this year.

CONCESSION FOR WIVES

Wife in He also proposed to give a employment the benefit of reduced rate relicts as well as her husband. precisely The wife would enjoy the same allowances as the single woman with whom she worked.

That would cost £4,500,000 in a full year and £2,000,000 this year." Announcing a further concession. Fir Stafford sald at present the Ursk £50 of taxable. Income. was charged at 3/- and the next £75 at 0/-, He would increase this by enlarging the

/ step to £200.

Thus. In future, the first £50 would be at 3/- and the next 200 at 0/-.

the earned relief, these rates became 2/58 and 4/10d in the

After allowing for here.Income

effectively pound.

persons domiciled abroad, in 1948 would be liable for the special contribution if they had been or- dinarily resident In Britain for the last 10 years. -

The date for payment would be when the surfax January 1 next. became due. DEARER CIGARETTES

ENTERTAINMENT TAX: There

be a

a further relief from the TOBACCO-It would not be ad- would visable to make another very large entertainment tax on theatres, con- circuses, sports and other increase in the duty, but it was certs, necessary to draw smokers' attention "live" entertainment.

These concessions, costing once again to the need for econo-

500,000, would come Info force on mising.

He therefore proposed to increase May 30.

the duty on tobacco by 3/4d a pound weight. That would mean an in- crease of two pence in the price

INCOME TAX

Last year, Sir Stafford said, of the 18,500,000 people in the income tax field, 4,5

4,500,000 paid some tax at the standard rate of 9/- in the pound.

In future, fewer than 2,000,000 women have to pay any tax at the standard rate.

This relief would cost £50 million full year

and £44 million this year. new scale would begin in the week beginning July 5.

"It

The

£4.-

would be a cumulative relief as from the beginning of the tax year: The Chancellor said the final on the orthodox Budget surplus

lines of accountancy came to £789 INCOME TAX: Dealing with in-million, The overall surplus of all

of cigarettes at present sold at 3/4dcentives to increased production, Government revenue over expandi for 20 and of one penny in those the Chancellor said it was impractitore was £330 million. now sold for 2/64 for 20.

cable to absolve overtime and bonus

It would not be right that tobaces payments from income tax as had manufacturers should retain this been suggested.

The only "substantial and. fortultous" profit. He would therefore, place a corres ponding excise duty on stocks held by manufacturers as from today.

Cathay

For the Opposition, Mr Winston: Churchill said that, generally speak- ing, he doubled If the. Chancellor's way was to

Budget would be found to meet the Income relle

real difficulties, or to apply, the increase the

·∙of a Derson's earned right remedies. Commenting the amount

on the prospective Income not liable to tax-and to

whether he wondered burplus, give relief on a graduated scale so that the great majority of all greater advantage would not be Kained by giving further relief to AT 2,30, 5.20, workers would be relieved from any

standard rate of the taxpayer-Reuter. Hability at the 7.20 G 9.20 p.m. in the pound sterling

He would, therefore, increase the carned

relief from its of one-sixth of person's salary, with its maximum

for Books of the Company will be THE IMMORTAL ROMANCE OF ENGLAND'S MAN OF DESTINY!

closed from 15th April, 1948, to 28th April. 1948, both days in-. clusive,

By Order of the Board of

Directors;

C. E. TERRY, Manager and Secretary Hongkong, 5th April, 1948,

Printed and published by FaroENICK PERCY FRANKLIN for and on behalf of South China Morning Post Limited at 1-3 Wyndham Street, City of Victoria in the Colony of Hongkong.

"The PRIME MINISTER

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of £250, to one-fifth, with a new maximum of £400. That would restore the full

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NOTICE

ANZAC DAY Sunday, 25th April

A meeting is to be held at the allowance and was on improvement COSMO, CLUB 37A CONNAUGH

on the prewar limit of £300.

It would remove half a millon

ROAD on Monday, 12th April:at

people from payment of income tax 5.30 pm, to make arrangemen

at all and would reduce the rate of for this year's ANZAC DAY Cerc,

in chargeable to one's

"

nd-mony.

ditional earnings (such as overtime

and bonuses).

All Australians and Now

The total earned ingame Hving Zealandora in Hongkong, “ar.r.

qualifying for Feller would be raised from cordially invited to attend. £1,500 to £2,000. These changes

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