Page
HONGK
[ONGKONG & SHANGHAI
BANKING CORPORATION:
GRAD OFFICE: HONGKONG.
AUTHORISED CAPITAL.............. 850,000,000. ISSUED AND FULLY PAIDUP B20,000,000 KESERVE FUNDK:-
STERLING... £4,500,000 SILVER $26,500,000
RESERVE LIABILITY OF ||
PROPRIETORS..........
820,000,000
COURT OF DIRECTORS:
Chorus
G, M. Young,
H.P. White, By-Deputy Chalikanə,
P. D. F. He,
W. H. Boll, Esq.
H. Comics Bot.
Hon. Mr. A. 6. Lang. Win attenden, tj. 4. Plummer, Be
Hon. Mr. F.H.Holyoak T. G, Wall, Kay.
CHIEF MANAGER: A. H. BARLOW, Esq. Manager: Shanghai-C H, STITT, Eq.
LONDON BANKERS, Westminster Bank, Ltd.
CURRENT "ACCOUNTS opened in LOCAL CURRENCY FIXED DEPOSITS received for one year or shorter periods in Local Currency and Sterling on terms which will be quoted on application.
and
Hongkong, 218 Febenary, .3 26.
HONGKONG SAVINGS BANK,
THE business of the above Bark is THE
conducted by the HONGKONG AND SHANGHAT BANKING COR; PORATION. Ralos may be obtained ou application.
"INTEREST on deposits is cleulated on the lowest balance during uach com plated Calertar Mouth at 31 pur coul per anunm. Should there be no balaca on any day in a month wo interest will be allowed for that mouth.
Depositors may transfer at their option. Balance of $100 or morb to the
HONGKONG & SHANGHAI BANK to be placed on FIXED DEPOSIT at CURRENT RATES.
1
COMMERCE
UNDERTONE FIRM.
AND FINANCE.
INSURANCE NOTES."
Review of the Local Share Market.
anee
THE CHINA MAIL.
Company celebrated its We have again had an active centenary and has now entered market during the week uniter upon a second century of its review although prices have been existenca. In order to mark this Very irregular in a good many historic event, the company has stocks. At the close, however, pubished a short niemoir of its the undertone of the market gen-activities, giving an account of its erally is quite firm.
The Shanghai market has been a little easier with the exception of Langkats, but a fair amount of business has been put through, Hongkong Banks: Continue in some demand and a good many shares have changed hands ut $1,230.
Unions:-Are a firm market and are wanted at $268 without attracting sellers.
Canton
Insurances: Havo
1
Hongkong Lands: After and shares could probably be touching $98 are rather easier,
obtained at $96%. !
more
Humphreya-Have come to business at $20 and shares could be placed at this price.
Cements:-Have been a firm
market and at the close are want ed at $314 combined for cash,
and $32 June.
324
RUBBER PROSPECT.
PROFITS SHOULD BE HIGHER.
9
than
The
MONDAY, APRIL 6, 1925.
THE BANK OF EAST ASIA, LIMITED
·HEAD OFF11's — HONGKONG..
KONGKONG HOTEL,
EXCHANGE
VISITORS AT HOTELS.
Hongkong, 4th April|| 1985.
On London-
まが E
On demand
/31/18
Bank Wire
30 days sigüb
4 months' sight **2/3-j
Crodita. 4 months' night ...2- Documentary, 4 months sight 2/4 On Paris-
On demand..
+
*CON ***
Oredita, manthy' sight... On demand On New York-
On demand
+w
Credits, 60 days' sight
Bombay Wire
On demand...
Wire
On demand
Singapore
On demand... Da Maalia-
On demand... On Bhangbai - Oa domand
3days' sight (private paper) On Yokohama *** On demand....
1, 4
April 3.
Mr and Mrs H R M Ừ H. Joha
All-u
atono M. R. T. G. Aitken W. R. Jordan Desid Men hi. n... Was L. Jo dirt”
Alkens
Mr. & Mrs. A. H Mr. & Mrs. N. Kayton
Beale
Mandir Keato
Mi a F. Benstand `Mr. & Mrs. Ę. F.
Mr. V. Benjamin Korr
Mrs. E. R. Bolilios M Kida:
Mr. B. J. Birbeck Mr. J. G. Osafe
mr & G. Bier.
Mr. L. A. Blok
Miss Bu
Mysen ( Iproewind
Mrs. E Liddell
Authorized Capital
Paid-up Capital
10,000,008,
$5,000,000,
Reserve Fund 3,000,000.
DIRECTORS:
Hon. Mr. Chow Shon Soo-Chairman
Fung Ping Alian
Li Koon Chun
P.K. Ewok
Ng Ching Lak
Foog Wai Ting
Mox Ching Kong
Wong You Tong
Hanh Ti
Kan Ying Po
Chan Ching Shak
Every description of Banking and Ezekang baatne trarasored. Loans graced approved mourition.
BAFE DEPOSIT BOXES to Jet
............
HAN TONG PO,
Lenser Manager. Hongkong, 1818. February, 1925,
Men J. NEDERLANDSCHE HANDEL
Mr. &
Linderman
151
B
D B
Mr. John Laku
Mr. A. Burehall
Mr. & Mrs: Lauritson
C.
Capt. G. Byers
.00!
MA.D. Cappleman'
108
die W. E· Basila Mr & Mrs W. J. B
Obar hom
nom.
Gold Leaf, 100 fins (per tael) 49
signs (Banks buying rata) 8.84 Silver (per on),
917,16
་་
10
01
iu
T
4% din. 9%, dia..
רק 8
31% dis
ני
Mrs. Clarke
Mr. E. R. Cohen
Me W. Colto
Mr. J. H. Cook
Mr. M. Concanzen
Miss R. David
Mr. L. H. Davis
Miss H. Lilia
G #indsey
Mr. & Mrs. A Link
Ar H. Lather
Mr. Marona
Mr. & Mrs.
Marks
P.
Capt. & Mrs. A. W.
Mr. & Mrs. B. Naught
Dencon
MAATSCHAPPIJ.
(Nassirklande Tranzen Bocary;}
POWANKIRIM 1894.
Hongkong Brands Stantindo 1905,
Authorned-capital No9, 150,000,000 £12,500,00 McKinley & child | Paid-Up Capitat.....1, 80,000,000 2 8,888,476 Hr Mod Mrs Mo Reserve raise wth, 20048,029 £.1,870,419 Sponkal mourvou.... 92,560,000 £ 1,968,200 *MoNaughton
HEAD OFFICE÷—Amsterdam, EASTERN HEAD OFFICE :----Batavia.
BRANCHES
14iga
Mr. S. T. Dockray Miss Dorothy Met- Mr. C. W. C. Van calf
Dorsker
Mr. C. H. Montague Miss M. Eccles Wr.Ma lo Mr. & Mrs: E. 3. Mr. N. Murray Mr. J. NolaACO ↑ Ellio
Mr.
G. F. Elaager Mrs-Ollives 11ies & Fay Mr AR Fondlay My H. R. Foster' Mr. McGregor
Fraine
Miss Fraine Mr. & Mrs.
A. H. A. Fong
Miss A. L. Griffin
Henderson
1
Mr. EH. O'Farrell Mr. H. Pearman My Rh. Pope Mr 8 H. Poerner Mr G. Raratel Mr J. Roleren Mr. A. H. Rows Mr V. G. ankes Mr and Mrs L. de
Param
Mr. & Mrs. E.
Shriler Mrs. E. Sparke
Mr. & Mrs. A. D. Silas & infant
Smith
On examination the present. atatistical position" of rubber INDEMNITY MUTUAL MARINE.
scems to provide ground for a During the past year the In-little quiet optimism on the part. Messrs. Moxon and Taylor'sdemnity Mutual Marine Assur- of holders of rubber shares? The weekly share report states:
Stevenson Restriction Scheme has now been in force for just over two years and during that period the world's stocks of rubber have been reduced by nearly.. 120,009 ton, and the rate of reduction inauguration and some of the vicissitudes which it has experi- has been progressive, the decline on aboutta enced. In the preparation of this last month alone being 10,000 book many original authorities were consulted, and the research tons. During the same period, onn displayed is instanced by a quota- the other hand, the world's-con- tion from an Act of Parliament of sumption of rubber has very sub- Queen Elizabeth.
At the stantially increased. So far as the 1923 business is concerned, the Chairman pointed recent annual meeting of the out at the meeting held last year, United Serdang Rubber Co., Mr. that results were not likely, to be Heath Clark gave an estimate firmed, up to a buying rate of and the figures disclosed at last
very profitable for underwriters, that the consumption of rubber is now well over 200,000 tons per $745.
week's meeting reflect the correct- Farnum higher than in 1921, and SUBSIDIARY COINS. Hongkong Fires Are quiet atness of that view. In 1922 pre that the present ratio of London $655 ex div.
mium income
£941.829 stocks to the rate of world con- Hongkong 50 cents sub, Hotels Have again been the which was estimated to produce a sumption was little more: medium of a considerable busi-profit of £72,515, but this figure, half the ratio in 1920. In other
6.% dia" ress at various prices, and after it is satisfactory to note, is now centres the decline in Boating katos ootus
318 dta.» declining to $15 for cash, Closed:
certain to be considerably ex-supplies has been similar.
Bar Silver in Hongkong 10 % pm. firm with buyers at $16 for cash, ceeded; in 1928 premimums were Continent has, of course, played chinesa Copper Cents...
Chinese Copper Cab.. 10%.pia.." and, $15%. June,
£845,298, being a reduction of an important part in the recent Rite of Native Interest 5% in 7 % out £96.540, compared with the pre: absorption of supplies. Americaniness Sub, Coln. duced values, and the keen com cent of the total output, but while vious year. Trade depression re-continues to absorb some 70 per longkong Suh. Qoin. . ~ % dia?" "
petition for business has had the in 1920 other countries used result of bringing down rates to about 90,000 tons, their takings possible, under the scheme, when Mrs. S. Gard a very low level, to which the had 'increased by 1924 to 135,000, the price goes above this figure. Mr. & Mrs. J. Gould decline in premtum income is and authority quoted above If the plantation companies can Dr. D. R. Gawier almost entirely due. The second estimated that they will probably sell this year's crop at 1s. 6d. per Mr. G. H. Gibeon year settlement of 1923 cast amount this year to nearly or over, their profits should Mr. E. Horman
389,673, or 16.1 per cent, of pre-160,000. This being so it be higher than for some years Mr. & Mrs. G. A. Mr. & Mrs. C. J. ndum income, against a cost of appearsrobable that the price past, even allowing for the fact £385,589, or 40.9 per cent. the circumstances the directors 1b. or over, for increased produc- first half of the year may
In will be maintained at 1s. 6d. per that the output at least during the have decided to transfer the tion over the present rate is only lower than in-the-previous year, whote of the balance of-this- account to underwriting suspèr.se on account..
It is hoped that the whole of this will not be required to close the 1923 account.
and that a small profit may result, but, us the first tivo years settlements and the expenses have absorbed Are 82.3 per cent. of the premium in
come, the profit, if any, cannot amount to very much." In 1024 these difficult conditions were accentuated, and premium income at $750.229, showed a reduction of £95,060, while the settlement for the 1924 account Was 1321,052, representing 42.8 of premiums, against $272,159, or 32.2 percent in 1923. factors responsible for this large percentage were the heavy losses on cargo risks, the losses sustain- ed in connection with the Japan- ese earthquake. and the reduction in rates. The Chairman recalled the fact which is happening now, as in the past, that after periods of prosperity when substantial profit were made, fresh under- writing ixis been introduced, with the result that keen competition for what business, there is bas caused a
cutting in rates until they have reached an unprofit Balgon
able level. Fortunately, the fin- Lane Crawfords:-Are nominancial position of the company is Shal Ringanore al at quotations. Tientsin
very strong, and prospects are London Quotations of the 2nd regarded without anxiety. Tourate Yusosalu inst.:-Hongkong Banks £193 10. Indos Deferred £10: Shells £4 7s. 6d. All middle prices.
Exchange:-The demand sell- Ing rate on London is 2/31/16, and the T.T. on Shanghai is 73%.
For the Hoxeronu &'ShamanAI
BAGUIO CORPURATION,.
H. BARLOW,
Chief Manager
Bongkong, 7th Jaximary, 1926.
Wharves-After firming up to $198 cased off to $191 and at the close-are-firmer-with-buyers at $192: cash.
Hongkong Docks: - Are offer at $122.
Shanghai Docks -Have again "THE CHARTERED BANK OF been in some demand and have
INDIA, AUSTRALIA & ́CHINA.
INCORPORATED BY ROYAL CHARTER, 1863.
HEAD OFFICE: LONDON.
Paid-up Capital
Reserve Fund
Reserys Liability of Pro-
prietorn
£3,000,000 £1,000,000
£3,000,000
FOREIGN EXCHANGE and General Banking business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for 1 year
of shorter period at rates which will be
noted on application.
A. H. FERGUSON, Manager.
יו
Hongkong, May 8, 1023
-
come to business at Tls. 125 for cash.
43
Hongkong Electrles: quiet at quotations.
Hongkong Trams: Have again been in strong demand clos- ing, firm with buyers at $39 cash und $4016 June...
China Sugars: Are nominal quotations and few shares have changed hands.
China Providents: Are steady with buyers for the combined shares at $38.
clone as high as $36 for June, are China Lights: After being ensier at the close, buyers only offering $321% cash but without attracting sellers.
Dairy Farms-Have been a strong market and have come to BANQUE DE L'INDO-CHINE, business at $27% cash and $2814
June;
Steamboats: Are nominal at quotations.
HEAD OFFICE:
93, Poulevard Esuumano, Pers. bearibed Capital. F. 72,000,000.0 Paid-up Capit!
...FT. 38,401,000.00 Reserva Funds ... ... Pr« 69,867,288.54 BRANCHES
Examban
Bangkok
Citan
Djibouti Hipboar
akow Foo
Hongkong
Mangtue
Nounes
Papoose
Pokk
Prom-Pena
Pondicherry BANKERS:
IN FRANCE Comptoir National d'Escompt Parley Credit Lyonnalu, Banque de Faris ét 59) Para-Ras; Credit Industriel et Commercisi
oo eto Generale.
IN LONDON: The Netiosal Provincial & clan Bank of England, Ltd.; Comptoir National d'Escompte de Paris Estdit Lyonnie IN NEW YORK J. P. Murgan & Co. French American Banking Corporation; i
narealy Trust Co. of New York.
Interest allowed on Current Accounts and Fixed Deporte according to arrangement
Every description of Banking and Exchange, Zarinem tranzacted.
A. LECOT,
Manager Hongkong, Marok‡20, 1994.
THENYOKOHAMA SPECIE
BANK, LTD.
Established. 1880.
Capital (fully paid-up) Yen 100,000,000 Reserve Fonda.......... Yen 80,500,000,
Hood Offen-YOXORAMA.
Branches and Agencies at:
Matavia.
Bombay,
Buenos Ayron.
Calcutta.
Changchun
Dairen (Dalny).
Newchwang.
New York
Osaka.
Peking. Rangoon Hio de Janeiro,
Fangtien (Mukden). Saigon.
Fiamburg.
Hanboy,
Harbi
Honolulu..
Lobe.
London.
Los Angeles. Lyone.
Nagoya,
San Francisco. Seattle.
Shanghal.
Chimenoard.
Singapore. Soerabaya. Sydney
Tientaln. Tokyo.
Tairiapfa.
Tsingtan. Vladivostock. Interest allowed on Current Accounts. Deposita received for fized periods at entes to be obtained on application.
Q. ARIMA. Manager. song, 11th March, 1825,
Star Ferries-A good number of shares have changed hands at $88 cash, and $8814/89 for settlement.
GAS EXPERT ON COAL.
Coal is the all-essential raw material in the gas industry, and for that reason the remarks of
Dr. Charles Carpenter. the pre- sident of the South Metropolitan Gas Company, at the recent toeeting, deserve notice,
THE NEXT BUDGET.
TEN MONTHS ACCOUNTS.
The
The tenth month of the national financial year put a better appearance on the Exche quer figures, for the deficiency of £85 millions which existed after three-quarters of the year had passed was reduced at the end of the tenth month to £51 milliona.
Revenue is coming in quite satis- factorily, but the appearance of rather heavy supplementary
LOCAL SHARE
MARKET.
APRIL 6 Nam
*ank 7,8,B.U. I.T. on selling rata
London
and on Shanghal
fligkong Boks 11 b London-£132 u Cariered Bank... P.&O. Bank
Eat &in Bank Mercantile Bank AB
do.
0 Marine Insurances,
Canton Insurance....... North Obins Insurance Union InsurDOG.
Insurance Tangtere China Undine
China Fire Insura
Dongines." "
المرام
b. "" 19}
b. 745
1. 1ก
b 44!
b. 18 BA 270
A+ 662
וי
LI
Mr. J. Scott Hars. Dr.F. Silvestri
be
ton
Mr. E. Haymлn
Mr. A. F. Hears
Mr Rental
Mrs. M. E. Sinclair
& child
Dr. H. F. Sommara
"Mr E venith Capt L. Siquiland
Rev. G. H. Hewitt
T. P. Hall
Mr and Mrs Stckland
J.
Mr. & Mrs. 1. An
Mr. & Mrs. W. A. Tobias
Capt.
Hannibal
Hamilton
Mr. A. D. Taylor
iRBON A. F. Mr. J. Thomson
Mr. Puo Van Mr. C. A. Harriman Mr G.T. Vandartorg. Mr. & Mrs. A.Hicks. Mrs. Vernon
T. Holdworth Me H. Waldock Mr C. E. Holmes
Mi
Waling
Mr. & Mrs. Wm. Capt. & Mrs. Walker
Higgins
Mr. & Mrs. A. S.
Hersoa
Me J. Ipekdinam
Mir. V. B. Jepson
Miss A. Jerresid
Mr. & Mrs. P. R.
Warren
M. Wilson
REPULSE BAY HOTEL.
April 5.
Me and Mrs Van Mr & Mrs R. Lazd
Andel & child
Mr & Mrs G. A.
M. Bannerman Mr and Mrs A.H.A.
Carleton
Mr & Mrs Mallguy"
and child
Mr and Mrs J, N.
Parker
OFFICIAL
QUOTATIONS.
. II A.M.
Stock Scibwa
APRIL 8.
Sharebrokers' Association,
***
2/3 8738
213 8.34 1230
Mr. & Mrs. Watt
£91, b.
Di
€21-19
£ 11 b.
b. 211
Mr J. Winima Dr. & Mrs. Lingay
$100
A. 100
Mr. G. J. Johnston Wood
£c-1/2 b. £19-1/8 b.
750 b.
140 .
2:8 b
$44. b.
..#2.90 b'8 -2.90 sa
64 2.80
Fire Insurances
எம்.
n. 195
Hongkong Fire Tosorance. bipping
$605.5.
13
$51.
$97-1/2 D: 84 0.
b $6
4.30
D. 38
#120.
'12"
2. -120
85/ ..
D. 83/.
$ 87 b
· 17-1/4 a.
A. 19.10
$255 A.
#57'n
b 84
#46 b
b47
58/- n
.n 57 6
b. 18
.b. 7.
b. 6
#121 b.
b. 11-13
330 n ber.
n." 31
b. 17.
P. 2.80 b
192 b
B 1994
$112. b. an
Ta
A 193
C.
***
H.K. Steamboats Rongkong Tops Acri, Lighter Indo-Chinas Pref.
do (Def)) da
(B.E. Reg.) Shell Transports... Star Ferries. Water-bosa...
Oriental Nav. Cò. efineries
Thica Sagar.* Malabon bager
+
***
++
Kailan Mining Adm
Mining
Langkare...
$ 38 a.
... Comb. $7 a. Shroghni Lurns... S'hal Explorations h Pingle Langkats
Ranha
Tronob Mines Urs: Cusp Bengust Con
Docks Wharves, Godowna, żo.
Wherla H. & K.
W. Dock H. & W.
bal Docks ..
New Engineerings.--
H.
A. K. Engineerings. Shanghai Rongkowe
Hotels $10. Now & Shai Developraents Hongkong lande. Hamptress
Estated Kowloon Lands
10 Baildlaz :
Resler. R.K. Farritorials.. Boral Land... Cotton Mills.
$12.
$903 b.
$8906.
b JBL sa 122
Mr and Mrs Clare Mr and Mrs Frod.
Hili
Mr and Mrs P. M.
Hodgson
Mr & Mrs Falemiler Mr and Mrs T.
Fabry ver Mr & Mrs Vander
Steep
It-Jol. And
Mr and Mrs. C. Stephens
Kochlor
Bombay Cheribor Djember
Bandjarmasin.. Bandoway Clousta Djokjakarta
Kota-Bod
Padan Panani
Botterunra Singapore
The Hague Kobe Makur Medan
Palembang Polongan Fontana Rurroun Bamarig:
Boerabain
Tilatja
Bhunghat
Boerakarta (Bole
Weltørreder
LONDON BANKERB:--- National Provinolal Bank Ltd. Correspondents all over the world,
BANKING BUSINESS OF EVERY DESCRIPTION.
W. EL GROSKAMP,
Agent.
Hongkong, November 4, 1024.
司公理管業實法中
· SOCIETE_FRANCAISE DE GERANCE
DE LA BANQUE INDUSTRIELLE "DÉ CHINE.
ETABLISSEMENT FRANJO. CHINOIS.
(Incorporated in France),
8, Chater Road, Victoria, Hongkong, HEAD OFFICE: 74, Rue St.. Laisre, Farie.
Subscribed Capital fully
paid-up Reserva Fund
Frs. 10,000,00
Frs. 10,800,000
Working fund provided by
THE BANQUE INDUSTRIELLI DE CHINE.
Frs. 50,000,000.
BANKERS:
Paris: Societe Generale,
Banque
Nationale de Credit. Banque de Paris et des Pays-Bas, London: Midland Bank, Ltd.
New York; Irving Bank Columbia. Trasi
Co.
Every description of Banking' and Exchange Business transacted, Carme |pondents throughout the world.
M. FITZ-HENRY,
Manager,
10th November, 1924.
THE BANK OF TAIWAN, LTD, (Taiwan Ginko.)
Incorporated by Special Imperial Charter, 1899.
McCapital Subscribed
Capital (Fald-up) Mr and drs F. J. Reserve Fund ...
Mr and Mrs B. J. Wright
Lacon
PEAK HOTEL.
April 3,
De J. W. Anderson Miss G. Kennedy Mr. B. A. Arthur Mr M. F. Key Misa E. Bally Mr And Mrs E Dr H. Bilean
Yes 60,000,00E Yan 52,500,000. Yen 12,980,000
HEAD OFFICE:
TAPEH, FORMOSA.
BRANCHES:
JAPAN-Tokyo, Yokohama,
Osata, Moji
Kobe
FORMOSA-Giran, Kagi, Karenkių
Keelung, Makung, Nanto, Pin Shinchiku, Taichu, Tainan, Takow Tamani, Tobyen, Ako. CHINA-Shanghai, Hankow, Kinkianšk
BOTHFEB, Bangkok, Hongkong, Sings
... Amoy, Foochów, Swatow, Carbome
Mr and Mm T. G. Mr & Mrs A. Lare
Bennett
Mr and Mrs 8. E MriJ. W. Bonast Langston Mr. J. K. Bob Bleid Mr Karen
Mr and Mrs P. W. Mr and in G. D.
Blackwell
Me W. F. Bourne
Mr 8. D. Carothers
Major A. B. Littis-
pore, Soerabaya,
Batavia, Bombay, London, New York,
LONDON BANKERS: London Comty Westminster and Farr's Bank.
The Bank has Correspondents in the CommáZEN.
ohuria Zangtao,, Japan, Indo-Usins, Philippine Idlanda, Java, and Dutch Iadise Aves- ralla, america, Africa, d
Interest silgwad on Carmat Account, and Fixed
Mr and Mraat rates which will be quoted an appiles Z. YAMAMOTO, Manager.
Capt & Mrs J. O. Me and Mer T. A.
Carpenter
Laya
{ as 16 New-
Mr M
M. J. Freed
... 80 Conta b. 1984 a
b. 70 Conta
Col & Mrs C.Russall jobog
Browa
Mr M 8. Lloyd
***
# 10-1/2 6 203 sa
Miss P. W. Brown Mr J. D Leyd Mr.Bad Mrs B. L. Mr W. H. Look
L
$150
. 160
Bridger
·J.4.3) b'
D. 4-1/7
Logan
D. 4-1/4
Kartin
$10 n.
#1178 113-19 en
5 dis [17
T. 3.14 b. 7°60 b. Now 830+1}% \s.
6. 60 New 23 n.
$10 b Now 8.85b
Ewo Cotton Hills, Ltd."... Rang Tiks Lou Kong Mows” an Orientals...
Sasaghal Cottonsee Yangtzopoo.. no
eeslinneous, Cement!
ས་
estimates may be taken to mean Hotels & Buildings. Dr. Carpenter is a keen nd-that no appreciable surplus is at vocate of the co-partnership prin- all likely. Prophecies relating to ciple in industry, such as has final budget figures are notorious. been adopted by his own company. ly risky; but, unless present ap
His view on the nationalisation pearances are deceptive, the 1924- of the mines is that if such "an 25 budget will just about balance. ill-conceived proposal" were 'ever
As regards next year, the high put into effect it would mean hopes of tax remission entertain good-bye to cheap coal produced a few months ago are on the tion. Governmental control leads, wane. When Mr. Churchill took to costliness.
office at the Treasury the public Dr. Carpenter rightly pointed jumped at the idea that his intim- out that different conditions per- ate knowledge of the spending tain in different mines, especially departments, coupled with his in different areas, and if a mine personal persistence, would stand ceases to work profitably it should him in such good stead in his be closed down unless local con-economy campaign that he would ditions can be adjusted to meet be able to offer a cut of a shilling its exigencies. Many people, in the pound in the income tax, however, may not agree with his Mr. Churchill is, known to be. suggestion that the corrective for fighting hard for economy. But unemployment in coal-mining his task is a more formidable.one should be extended employment and the Air Force, among others, than was expected... The Navy another industry needing
are presenting larger demands development.
than was anticipated, and the hoped-for trade recovery has not as yet begun in earnest. The", taxpayer, therefore, who would avoid disappointment, would be: well advised to look for no more than slight comfort from Mr. Churchill's first budget
in
METAL MERCHANTS.
At a meeting held in Shanghai of local merchants interested in the trade it was decided to form an Association of Metal Dealers in Shanghai and the following were appointed a Committee-to- draw up rules for discussion at a subsequent meeting Mesara. Tiefenbacher, Philippo, Schderer Wu Sulersfsky, W Bowden,
Evand Weiss M
Cooper preside
200 D TAKE WITH "SWEETENED STERKWATER.
Bayan, the babies, helps/the- Supa,comforts; aldei
Demente "Oomblood-, #a11:5 Chian Lights (Old)
40
***
--
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Mr R.H. Cleland Mr J. Modiush Mi M.Cooper Mr. H. A. M}}{«
Mire 1 H. Cormack Mr E. E. Miminok Mr and Mrs W. Ai Mr and Mrs P. 47.
Cornell
Munton
HONGKONG, BRANGE,**
3. Des Voeux Road Central,
Hongkong; 8th Juns, 1924.
MARAR BANK OF CHINA.
Mr and Mrs J. D. Mim M. W. Now
Danby
holme
Lt. Col. R. A. Dob. Mr W. Ogden
bin
MrT. E. Ollerton MA. H. Pong Mr A. Primal Mr and Mrs L.B.
Mr N. O. Donald Mrs Sammers Ella Mina Ellis Kr: nad Mew W. A. ↑ Remington
·Bartace
Mr A. Bitche Mr. FitzGerald E.-Col. &. Mre O
Mr A Forbes
Miss M. Forbes
Bandats
Mesh Mew I.G. Boot
Mr R. J. W. Foster Mr R. P. Shaw Mim G. Fothergill · Mr B. H. Skelton Mr and Mrs P. P. Mr and Mrs T. 1.
Franklin
White Haith Lt. E. O. Frederick Mrs Miss
My and Mer, W. D. :8tabbings (2)
Goodfollow Mr and Mrs B. F. L., Mr and Mrs Guo. W. Sturdea
Grez
Mr C. P. Sardine; : KỪ and Mn B. A. Hrv J. 8. Thomson
Halo
Mr&Mr C.Thwalbor
Miss M. R. Hall Xr7. B.. Hawker
Hawker
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Mp:L/W. Tokle
MrXDM Home Chat
worth
Lás-Comde
Hale
Me H. Howell
MEN Ò. CELF68hite Wood
行銀國中
(Specially, Authorised by Presidential * andata of the Republic of China on the 2nd of November, 1917).”- Authorised Capital $60,000,000.0 Fald-up Capital www.kas 18,578,600.00 Heserve Fund
HEAD OFFICE: PERING,
·HONGKONG, BRANCEL· QUEEN'S ROAD CENTRAL, Branches and Sub-branches all ojed China, and Correspondants in Europe America and other parts of the world. Landolt Hanker The National Pa
cial and Union Bank of England, Lei, The Guaranty Trust Company of New
York.
New
York Bankart Nations Banks
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The Equitable Trust Company of New