HONGKONG AND SHANGHAI BANKING CORPORATION.
Authorised Capala
trendel sol Polly Pallonj
· Rosarte Punula je
Mtoring
..12..
Auror
Havarve Littlty of Propeliora -
HEAD OFFICE, HONGXONO
COURT OF DIRECTORN-
Hon, air, F, 41, M. Bertovil, Chairma
Mon. Me, A, 11, Tenga
Jupay
W, 11: Hell, Beq, "
in,
120,00
J. A. Pfundnoj, Koş
A. 11, Campraen, Raija
Wife Battensiv, Beg,
AMOY
BANDROK
RAPAVIA
REM RAT
HALAE PTA
CAMPON
4117 25 124344 COLOMBIAY
DAIREN
HAIPHONG
FABR
HANKOW.
HARIN
HONAK
17.00:0
LPOIN
JOHOTE
KOBE.
KEADA
LUMPUR
, ta, weld, 16.
11. P. Adag 10-
M. Young. Bany
Chit Munzir.
4. 11. Barlow, Bert-
BRANCHES.
יו
LONDON
LYON
MARIA MANILA
VADANARI
SEW YORK
PEKINDL
PENANG
RANGOON
THE BANK OF EAST ASIA, LTD.
HEAD OFFICE: HONGKONG.
10, Des Voeux Road Central, Hongkong.
BRANCHES AND AGENCIES:-
THE CHINA MAIL.
COMMERCE AND FINANCE.
Authorised Capital
Paid-Up Capital
Rosarve Fund
$10,000,000 5,000,000 1,200,000
Batavia
Bombay
Melburne Vi
- Franolo Bear in
Calcutta
·Canton
Yair York
E
Beginning
Shanghai
DAIRY FARM "CO.
Singapure.
Peking
Soumbwyn
Ponsng
Tripel
Tin
leitela 11 Tokyo
In
principal
Halphong P'urly
Homalum
Kabe
Kowinor
Colon Saigon
"Correspondenta
ties of the world. Every description of Banking an Exchange businesss transactod. Loans granted on approved securities..
SAFE DEPOSIT BOXES to lot.
KAN TONG PO
Chief Manager
Hongkong, 22nd May, 1028,
行銀商工法中
il
"
BANQUE FRANCO-CHINGISE
MAN FRANCISCO
HALOGEN
SHANGHAI
SINDA PORE
MOPRANAYA
SANOTICE PATANO
TIES PSES
KNA PSINUBAC TOKOBAMA
(TCO Annis ours-E My Anant CurEEDIN Payrollon na zuded for on Von de
or larm which will be quantech coi spalikuw
Bungkuang, 27th May, teen,
HONGKONG SAVINGS BANK.
pour le
Commerce et L'Industrie (Incorporated In Prince).
5. Chater Road, Victorin. Hongkong.
HEAD OFFICE: 74, Rue St. Lazare, Para
Captial
Frs 20.000.000,- Romstred
Few £1,100,00U- Special Working Capital Pm 30.01 0:054,-
Paris
BRANCHES! Lyona
Buy of velho chover and bl Elmeten me the HONGKONG AND SPANAHAN BANKING CULPOI WPTON. It may abkinek an appliestion.
Salgon
Haiphong
Feking
Shanghai
Cunton
Hongkong
FOR THE HONDENDO A PILARPHLAD HÄNKANDE CORPORABON
A. H. Barlow.
BANKERS:
Chief Manngum.
Bengkong, 27th Mar 19an,
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
06, Boulevard Haussman, Paris. Subscribed Capital. Frs. 72,000,000.00 .... Fr. 88,400,000.00 Paid-Up Capital
... Fra: 50,667,280,54 Reserve Fund
BRANCHES. Hanois
Bank sok
Bamban
Canton
Dijbout!
Hongkong
Munguzo Noumer
Fort-Baykrif Papeete
Haiphon Fuking Hankow
Pondicherry! Shiver
Shanghai Kimpor Tintin SALICILA Punya Prom
Yanaf BANKERS: IN FRANCE: Comptoir National d'Escompte de Paris, Credit Lyonnais Banque de Paris at des Pays-Baa; Credit Industrial et Commercial; Societe Generale.
.
IN LONDON: The National Pro- Fincial & Union Bank of England, Lid; Comptoir National d'Escompte do Paris; Credit Lyonnais,
IN NEW YORK: J. P. Morgan & Co.; French American Banking Corporn- tion; Guaranty Trust Co. of New York,
Interest allowed on Current Accounta and Fixed Deposits according to arrangement..
Every description of Banking and Exchange Business transacted.
A. LECOT,
Manager, Hengkong, 11th December, 1928.
NEDERLANDSCHE HANDEL
MAATSCHAPPIJ..
· { NETHERLANDS TRADING SOCIETY.)
Established 1824. Hongkong Branch Established 1906.
Authorised (“hpital @ 150,000 000 213 500,000 Paid-Up Capital... ( 80,109,9:0 £ 1,68 67 Reserve Fan.....G21, 47IMO £ $150,778 Spools" Reservo...{} #0000338
HEAD OFFICE:--Amatorda.. EASTERN. HEAD OFFICE:-Batavia. BRANCHES:-
Bandermain Ban
Calcutta Dickjakarta
Kota Ki
Pulang
Panac
Rotterin
Гада
Cheriton
The Hague
ז מטקסס
Puorahang
Pontinink
ang Hombea,
+
Bornby
Identher
Koba
Man Fomiongon
Ranyoo
Shunghal
Soerakarta/Sol ). Wolterredon
LONDON BANKERS:-
National Provincial Bank, Ltd. Correspondunta all over the world BANKING BUSINESS OF EVERY
DESCRIPTION..
J, C. MAASSEN,
Acting Manager. Hongkong, 3rd August, 1926.
THE YOKOHAMA SPECIE BANK,
LIMITED.
-Established 1880.
Capital (fully paid-up) Yen 100,000,000
Reserve fund:
Marseilles Eunoi Tientsin
FRANCE-Societe Genernio, Banque Nationale do Credit, Banque de Paris at das Pays Bas
LONDON-Midland Bank Ltd.
REPORT FOR ANNUAL MEETING.
LAST YEAR'S PROFIT.
The report for presentation to the 30th yearly meeting of the Dairy Farm, Ice & Cold Storage Co., Ltd., on September 25 (at noon) reads:
The proft for the year after writing of $111.399:51 for de- preciation, placing $7,281,47 to reserve against Bad and Doubt- ful Debts and providing for directors and auditors' fees,. amounts to $205,809.25 which includes the sum of $13,887.01 brought forward
from last Year's account. It is proposed to deal with the above balance of $205,809.25 as follows:-
15
CHINA LIGHTS.
FINAL CALL ON NEW SHARES POSTPONED.
CHINA-BURMA TRADE IN 1925.
FRIDAY, SEPTEMBER 17. 1926.
HONGKONG TIDE
1,200 plouls in the higher counts being of othor provenance, pria- elpally Japan. The Burma pur-
The tide-table given below has The value of Tengyuah (Tha chasing price of raw cotton fluctuat- been obtained by aid of the Tide
nd in an incalculable"
manner predicting Maching, which- nan) import from Burma-Hk. Tis. 8,701,200 exceeded
throughout the year, so that some oludes 40 componentë, for the better „that of the previous year, by Hk.tradera made profits, whereas others prediction of tides from the r Tis. 1,258,800. The importation of lost money. The increased impor-sult of the analysis of the tida) cotton yarn increased by 9,800tation is due more to less com- observations, taken at the Kaulung piculs as compared with the figures petition from other buyers in tidal observatory under the direc for the previous year and raw, cot. Burma than to increased power of tion of Dr. Dobörek during the ton also increased to the extent of consumption in this district. - years: 1887, 1888, and 1889.
The times and heights are given Inward Transit Trade. 2,800 picula. As remarked in last
for Kaulung; but they may be used year's report the normal course la The value of the inward tran for the Victori. Naval yard and for one of these twq staples to in-sit trade-Hk. Tis. 508,000-was Aberdeen, the differences boing crease as the other decreases, and less than that of the previous very small It is officially announced that tho vice versa, says Mr. H. G. Fletcher.. year by Hk. Tia. 652,000. anal call of $3 per share, on the Acting Commissioner of Customs was only a little more than half new shares of the China Light & for Tengyush in his 1925 Report: that of the previously lowest year Power Co. (1918) Ltd. has been but this year followed the previous 1923. This was due to the institu again deferred till March 1, 1927 one, in providing an exception to tion by the Likin Bureau on August (instead of October 1, 1926). the rule, though both increased this 1 of the issue of the equivalent, of year, whereas both decreased last award transit passes at a rate less ¡one. The stimulus for yarn this than ours for goods transited to the year was the Burma purchasing interior of this provinco. Such price, which steadily decreased documents are to be valid for 12 throughout the year, but that did months and art to free gooda cover- not profit the speculators, for the ed by them from further likin and PL 17 demand from the interior was woak, other taxes in the Interior of this and the decreased purchasing price province. "On cotton yarn
theB
18 m 5 99 forced former importers to sacrifice Bureau charged $1.80 (paper)90s. 10 8 A
The postponement of call is due to conditions prevailing at present..
CHINA TRADE.."
British Criticism Could Have
Been More Föreible."
HONGKONG MARKET
APPROXIMATE RETAIL
It
That China is slipping back (anys their holdings for no profit or at $1.80 (silver) per load of 135 eat- the "China Press") into the "deep-a loss, in preference to boing left ties. This works out at $0.96 (ail est state of barbariam it has ever to hold the baby. These conditionsver) per 100 cattles: this office reached" that the potentialities of got worse towards the end of the charges a tranzit pass due per 100 business in textiles of all kinds in year, and during the last two cattles of Hk. T. 1-some China are encrmous and that Great months of It all sales were conduct- $1.70 (silver). The result was that To add to fire and
Britain should be doing "ten times led at a loss. typhoon Insurance
Practically all the Fund ...........$ 5,000.00 as much trade as it is doing" are yarn imported is Indian, only some (Continued on Page 8.) Curry forward 200,809:26 some of the impressions this coun- Directors. The Rev. Father try gave Mr. K. D. Stewart who few Robert. having left the Colony passed through Shanghal a during the year resigned his months ago on his way to and from seat on the directorate. The the Tarif Conference in Peking Hen. Dr. W. V. M. Koch and Mr. where he represented the Manches- B. Montagne Ede were invited to ter Chamber of Commerce of which fill the vacancies on the Board i he is a director as well as the hon. Retiring Directors.--Mr. T.G, secretary of Its China and Far East Weall and Mr. A. S. D. Cousland, section.
Mr. Stewart informs the London. retire by rotation but being eligible offer themselves for repress that the conference has not had any definite result so far, but election.
that it has been the means of re- moving a good many mlaconcep- tions."
And he might have added more conferences-or that a few something similar to this apparent- ly "very successful Hine-will be needed to remove many more "mis- this conceptions" before trade in country comes into something ap- preaching its own.
Audit. The annexed accounts NEW YORK:-Irving Bank Columbia have been audited by Messrs. Percy Smith, Seth and Fleming who offer themselves for re- election.
Trust Co.
Every description of Barking and Exchange Business Transacted. Corra spondents throughout the world.
A. ROLLIN
Manager Hongkong, 1st December, 1925.
THE CHARTERED BANK OF INDIA," AUSTRALIA & CHINA:
Items noticed in the accounts
are--
Balance of Working "Account $898,651.19 w
+Er
It is evident that Mr. Stewart did not anticipate the military activity of the so far, ever-victorious Chang Kai-shek, for he informs the
Depreciation comprises:-$37,- 681.24 on Buildings and Property: $56.532.29 on Ice Plant and Machinery: launches, lighters and vehicles, Financial Times" that just at pre- $6,160.46 on furniture and fit-ent (a month ago) "there are two
Incorporated by Royal Chater, 1858.tings.
HEAD. OFFICE: LONDON. Paid-up Capital Reserve Fund.. Reserve Liability of Proprie-
tors***
$11,025.52: on
Profit for the year ended July £3,000,000
31, 1926, is $191,922.24. £4,000,000
Assets stand at $3.347.747.85 £3,000,000 of which the bigger items are |:Cattle $203,766.40; buildings and
Agencies and Branchen.
ALOR STAR AMIOTRAR BANDHOR BAPAVIA HOMBAY CALCUTTA CASTON CAWNFORE
COLOMBO DELHI HAIPHON BAMBENG HANKOW SONGKONG 110110 120
KARACHI
KLANG
KODK
KUALA LUMPUR KUCHINA
MADRAS
MANILA
ARDAN
NEW YORK PKK 145 PENANG PESHAWAR 11:47 10F RANGOGN SARIDS
HRMARAND SERRAIBAN SHANGHAI SINGAPORE HOURABAYA TAIPING
(F.M.8) TAVOY TIKASIN TOKY
TSINGTAO
ХОКОНАМА ZAMBOANGA
Philippe intel
Foreign Exchange and General Bank- ing business transacted.
Current Accounts opened and Fixed Deposits received for year or shorter periods at rates which will be quoted on application.
A. H. FERGUSON. Manager. Hongkong, 1st August, 1926.
THE BANK OF TAIWAN, LTD. (TAIWAN GINKO.)
"
Incorporated by Special imperial Charter, 1899,
Capital Subscribed .Zen 48,000,000 |Capital (Paid-up).. Yan 89,376,000
HEAD OFFICE:-Taipeh, Formosu.
BRANCHEA:
i.
Yokchama, Koba,
LONDON BANKERS:
London County Westminster and
Parr's Bank...
cases where there is A certain amount of Internal peace around Shanghai and the other int China) One in the provinces South Manchuria."
Beef Sirloin
اور
- Roust
Breast Soup
Steak
Suzanger
Bullock's Brains
Butcher Meat,
Tongue, corned-4
Feet
property $959,000; ice plant and to retain its totain amount of in- Mutton Chop. machinery $619,500; stocks onternal peace" remains to be seen, hand $721,049.81; accounts re- especially as the war clouds are ceivable $341,239,29; share in-again already threatening this great vestments $394,782.06 (against trade pulse of China. Mr. Stewart, Pig's Chitlings market value of $501,150).
The auditors' report reads:--
We report that we have audited the above Balance Sheet
however, admits that here we suffer from "unstable equilibrium" and that he would be a bold man who would "prophesy that the present state of peace would last for an indefinite period."
Braina
». Foot,
F
Fry
Head
R
Heart
Kidneys
Liver
1 * * ¤ ¤ à ¤ ¤ ❀ a ÷ ÷ 8 | a2o¢ Ãa°gags || RÝRA ASKjó~ Š ̈ ̃ä❤Ñ8881
11
the
ture
must not be considered to coincide The times of high-and low-water with the toes of slack-wator and change DI current,
September 17 to 23, 1926.
HIGH WATER LOWER WATE
Standard
Standard E Times
Time
1.0:7 034 44.
DATI
Sept..
7:19 4.3 7.0
8 JUL
9:0 4.3 1.861.8
94,0 81.3
Mon.. 10 m 7977.7 m 1 16 3.
862.46 a 1.2.
3.32 a
Tree 28319.83 12 3.0 Wud. 89 m. 1477 m2 * * 3
10 11 Thurs 13. m 10 18 74 10 30 8.4
31.8.1.3
(m 3.5) 19
4. 34419
PRODUCE.
PRICES.
Poultry.
Sept. 8 June, June, 1026. 1918 191
Cts.. Ct. Ste
Eggs. Hon (cooking)..
班
th
each-
por doz, 80-
##b
Turkeys. Cock”....
火猫
Almonds Apples California)
Cocoannis
བམྦཱ བ བནྟིཾ པར འཚོམྦཱ འ ར
DÖKSENSA HEBESUES
Fruits.
80.
31
30.
80
21
23
85" 25
20
75
24
45
24
24
50
each 55
2
each
pair
15
.15.
17
褟梯
የያ
.......
each 12
lb.
金山檸種 each
#D.'
新會甜機
ת
៩ ពន់ អ អ ២៥ ឌ ៩ ៨៩ឌ | i | | |,
866-56EARS
TIBBIT -55.IS.
Sopt. 8 June, June,
1928, 1918 1914.
Cia. Cha. Cla..
Chicken
Jb.
56
- 12. 15.
32.
12.
Capons, Small
Prima Cut 'Corned
50
►
32
12
牛肉
Capona, Large
卷
80
12
#
*
Duck
40
#4 #
32
22.
77
4.
28
20" 18
Dover
28
18
1
牛肉操
82
22
Eggs, Hon (fresh) Fowls, Canton
新鮮蛋
Steak Sirloin
4
45
85
40:
20
per sat 16.
12
Fowle, Bainan Geese
15:
Tongue, fresh
each: 70:
60
·Pigeons," Canton
Holbow
口
J
Hand..
5-$1.20
-$1.20
Turkeys, Hen
Heart
1b. 22:1 13 14
Snipe
Hump, Salt
n
98
18
each 10,
12
Kidneys.
16. "10" 12
Tail
80.
22
Pheasant Quall Partridger
Liver
Ib.
24
Tripe
B
14 T
How long Shanghai will continue
Calves' Head & Fost.
平蠔
set $1.20 $1.00 $1.00
48. 20
ต
Leg
48
Shoulder Baddie
45
垫鞍
45
24
"
For set -8
ib.
20
Bananas (bride's)
28
18
Carambols
#
20.
each 13
10
Lemons, China
Lemons (America)
18
8
Lichens, Dzied
Ib. 48
24
Oranges (Canton)
###
88
29
Н
Oranges
12
おす
38.
Pears (Canton)
Loin Fat or Lard
44:
70.
*
15
"
Peanuta
*
#
28
Persimmons, Large ...
22
70-
Plantain
H
Bach 14
7
Puraelo, Siam
each 15
#
18.
10
Walnuts
Ib. 12
#
60
25
Grapes
40
22
32
18
Mutton
#
羊油
55 26
24
4 #
19
Sausages
40
20
Fish.
80.
20 10
18. 16.
80
18 · 27.
82
12 9
55 20 25
-24 23 26
··28
16
2
80
23 16
黃皂
24 10 9
中轉型
-14 10
8
40- 16 28 10 18 26 80 9082 26 80
Carrots Celery, Chinese Chillies, Dried
15.
12
10
# # T
20 25
Red
16
18 16
40 BO
Green Curry Stuff, English
8
10
8
Cucumbers
Garlic
40 18 23
38 22
18 £224-
Horseradis
Indian
Lobsters Mackeral Mo
26
Cetace
Water
Mushrooms,
clared that "at present" the civil Sheep's Hoad & Feet.. per ret 35 wars make trade "exceedingly dim- cult." Had he said that such wars were simply asphyxiating trade in
Heart
Kidneys
" Liver'
with the books and vouchers of
It might have been fairer to Bri- the company in Hong Kong and tish traders out here had this Pork Chop with the audited returns from "home" representative of theirs Log / Shanghai and in our opinion been little stronger in his such balance sheet is properly marks, and especially when he de- drawn up so as to exhibit a true and correct view of the state of "the company's affairs on the 31st July, 1926, according to the beat of our information and the general, he would have been much Sucking Pigs, to order. #b. 25 explanations given to us and as nearer the whole truth and not have Sust, Reef shown by the books of the comlet himself alip into making what pany and the audited returns many foreign business men inv from Shanghai. We have seen Shanghai and in China generally the deeds of the properides and will consider a half truth, which, le the share certificates and have about one of the worst things that obtained all the information should be associated with an ex- and explanations we have repression of the conditions of China. quired.
THE BANK OF CHINA. 行銀國中
trade to-day, especially when we Barbel ara hearing so much of China's re-Brasm, cuperative powers in this direction, Canton Fresh and ad nauseam at that.
Water Fish.
Fresh Water: Yallow
Penang, September 4. · Mr. Stewart declares that "Inter-Carp Messrs. Paterson, Simons & Co..vention is out of the question, and Catfish JAPAN-Tokyo,
Osaka.
Ltd. Renang, inform us that they that it is "feared that even good Codfish FORMOSA; Giran, Kagi, Karenko, have received a cable from the advice will not be welcomed until Craba
Keelung Makong Nanto, Shin- Secretaries of the above Company the rival military factions have Cattle Fish Taichu, Tainan, Takao, informing them that an Interim settled their differences and re Dab TOBD
Hefto, Taito
Dividend of 15 per cent. for the duced the suspicions. of foreignera Dace CHINA:
A-Shanghal, Hankow, Amoy,
year ending March 31, 1927, has that exist!! Foochow, Swatow, Canton.
Dog Fish OTHERS; - Hongkong, Singapore, been declared, payable on the 6th
Soerabaya, Semarang, Batavia, instant..
Was net, Mr. Stewart here long Eals, Conger Bombay, London, New York;
enough to be informed by old Calcutta.
"Chinn hands" and even stúdenta of China history that Chinese rival || Frogs militarists never settle their argu Garoupa ments, but keep in existence the Gudgeon vicious circle of warfare, and bri Harrings chacia Tinging, Japan, lode-China, Siam, India (Specially Authorised by Presidential harm to China. Also that they will Labrus gandage that has done so much Hallbat Jalatest allowed an Current Acepants, and 2x4} Mandate of the. Repablic of China continue to do so until strong setlon Loach
on the 22nd of November, 1917). Authorised Capital $60,000,000.00 8 taken in this country by local Paid-up Capital
$18,278,800.00 people who will do more than mouth. Reserve Fund
$9,629,425.24 alleged patriotism and encourage
the local lawless in their anta gonisme against fančted wrongs; Mallet manufacturd insults, and distorted | Oys conceptions of normal incidents, Parrot like the unfortunate, but very Parch natural affair
on the Japanese Pike freighter when a Chinese hawker Pla London Bankers The National Provin- met his death. A
The Bank la Corcompondeats in the Octal Contree in the European Ountinent, Rain, NY.
Yen 89,600,000 Philippine (andi, Java, Arisen, de k
Head Office:-YOKOHAMA...
Branches and Agencies at:
Batavia,
Bombay.
Buenos Ayrea.
Calcutta.
Canton.
Changchun
Newchwang.
New York
Osaka.
Peking.
Rangoon.
Dairen (Dalny). Fengtien (Mukden). San
Hamburg.
Hankow
Honolulu.
Ka! Yuen.
Karachi.
Kobe,
London Los Angeles. Lyons.
Xanila
Nagasaki. Nagoya,
Rio de Janeiro, Salgón,
Francisco. Seattle. Semarang. Shanghai. Shimonozuki. Singapore, Boerabaya,
Sydney. Tientsin.
Tokyo. Teinenfu.
Interest allowed on Current Accounts. Deposits received for fixed periods at rates to Le obtained on application.
GARIMA
Hong Kong, 11th September, 1928.
Depolls at ntee: which will be quoted an applica
Feby
T. TAKAGI
HONGKONG BRANCH:
Manager.
8, Des Voeux Road' Contrali Hongkong, 7th May, 1923.
THE BANK OF CANTON, LIMITED.
Head Office-Hongkong.
XSTABLISHED 1919.
Authorised Opital,
Paid Up Capital
lver Rome Puzzl
BRANCUES:-).
£1,200,000
LIGT RES $700,000
tv Ön 100, Bushgani, Jankow, Swatne, Bangkok, New York and Baal Framefuo, Corpondents In a Principal cities of 17:4 Ward, Send A LES
„DONDON BANKERSTAAN
The Loyds Bank LimitedE
- Brary" doserpina: of banklag kusinaaa" Sensumeted
Bais Teposit Boxed in variona ainoa, to; de feb from 0 to 40-20, FORTly,
LOOK POON SHAN,
HEAD OFFICE;" FEKING.
„HONGKONG BRANCH
4. Quem's Road Central Branches and Sub-branches all over China and Correspondents in Europa,
America, and other parts of the "world."
cial and Union Bank of England, Ltd. Here is good and concrets In- The Guaranty Trust Company of Newtance of how labour in Shanghat
Yorkshir
New York Bankaran Tap
National Bank di bali tekin has to suffer, and how trade is
stifed by the Red agitators whom
The Equitable Trust Company of Now the officials allow to exist for all
York
Interest
allowed on Current Accounts. and Fixed Deposits. Terms on appice tion
Every description of Banking B hostrankeatedpok
BS Loans granted on approved securi
Epazini facilities for Home Exchange
DARTSUTEE PE
their official utterances of taking. steps to put an end to thei
Therefore, a little opinion bờth Héte, and countries like Britain wou
with the
that
24 18 18 362218.
20
18
Long
Vegetables, &c.
Artichokes Beans, Sprout.
Best Root
Bitter Squash Brinjala, Green
Red
Cabbage, Chinese
(Shanghai). Cane Shoots, bunch Cauliflower (Large)
«C. (Mediuma
(Small):
Ginger, Young
Parsley
Green
Onions, Bombay
| Shanghai
Potato, Berset
Pumpl Raitisk
* lb.
8.
15
8
10
N