1928-09-01

BANKING CORPORATION.

BANQUE FRANCO-CHINOISE

HONG KONG AND SHANGHAI

行銀商工法中

Anshoriend Capital ..............

$50,000.004

farodd and Fully Paid-op

$30,000,000

Motoren Tyadı

terling 6,000,003

Nitre...,000,0

Swerte Edebilly of Préprietor 122,203,

READ OFFICE, HONGKONO

COURT OF DIRECTORS—

4. H. Compton, Bag, Chairman.

X, B. Brown, Kay!.

Deputy Chairmma,

W.FL. Bali, Reg.

W. L. Pstiendea, Beg.

Hon. Mr. A. D. P. Beltà. J. A. Placmit, Sen. Mr. 0.0.8. Mackie. T. G. Well, Eng.

AMOT

BANGKOK

BATAVIA

II. P. Will, Esq.

Chief Manager

Hon. Mr... Bra

BOMBAY CALCUTTA

BHANQUES:-

LONDON LIGNS MALACCA

MANILA MOUKDEN NADASAKI

PERING

CANTON

CHEFOO

NEW YORK.

COLOMB

DARE

РООСНОК

KLIPHONG HANDORA BANKOW HARDIN 'HONDILW

ILOILO

Port

JOHORE

КОПЕ

KUALA LUMPUR

FENAXO ĐA NGUOI

BABON

HAN FRANCISCO

BINGAPORE SOURADATA BUNORI PATANI TIESTBIN

TOKYO

TSINGTAO

YOKCHAMA

Current Arroduse oproed In Look! Cutranay 41 Pized Deposits, received for ose que 19 k lol Curvy and lering

storie penadeit be gausal m applicadan.

wad K

Hang Kong, th June, 1929.

HONG KONG SAVINGS BANK.

The Exsis of the above Buak le conduct-

of by the HONGKONG AND SHANGILAX BARKING CORPORATION.

abtained on application.

FOR THE HONORONO

BANKING CORPORATION,

Rufer my be

& BHASODAI

A. U. HYNES

Clauf Manage.

Hong Kong, 13th plumber, I.

NEDERLANDSCHE HANDEL

MAATSCHAPPIJ.

(NETHERLANDS TRADING SOCIETY)

BANKERS,

Estabilaod 182.

Hoog Kong Union:-11 Queen's Road Centr

Amikorial Capitalukdare 100,000,000- (19.000.) dufida 80.000.000

Paul Up Daplied haza Bar Pad Ouilders 10,000,000- (CHÍNH)

£land Unión -{AM5? EĦDAH'), - Eastern Hood UTAVIA

pour le

Commerce et l'Industrie

(Incorporated in France).

Prince's Building, Chater Road,

Hay Kor.

HEAD OFFICE:

74, Ene Bt. Laure, Paris.

THE CHINA MAIL,

COMMERCE

AND

FINANCE.

BRITISH GOVERNMENT SECURITIES STRONG 253,000,000*

SATURDAY, SEPTEMBER 1, 1928.

THAMES HAVEN SHARES.

Capital fully paid up ....Fra.50,000,000 Review of the Position at the End of July by the mente, That agreement le now dation that oil tankers should be

Special working expital..Frn.50,000,000 Reserve

Fra 22,319,00}

BRANCHES: Paris, Lyons, Marsailles, Salgon, Haiphong, Hanoi, Tourano, Quinton Hue, Thanh-hoa, Vish, Prom Pent.

Poking, Shanghai, Tientsin, Hong Kong.

Financial Editor of the "Observer."

The most satisfactory feature of liquidation is at an end, but the

reserve aquals the whole capital,. £745,000 and capital issues on bonus terms have proved so pro- fitable in the past, that the quota-

controlled sufficiently to safeguard It has now to receive the assent gross. The return on the Ordin- Imperial Interests will be general- of Parliament, while certain legis-axy 31 shares, even at their reduc- ly welcomed. The first stop was lation will be necessary to carryed price, is small. But the com- taken in March last, when it was it out. It is to be hoped that no pany's record of progress kas boaz a provisional unavoidable delay will take place so steady, its appropriations to re- announced that

at in putting the whole scheme into serve,so substantial-to-day the agreement had been arrived whereby the Eastern and associat- operation. ed cable companies are to amal- gamate with the Marconl Company In a merger with a capital of over No official Information is yettion is more than justified.

This scheme was available regarding the report of made dependent on agreement with the Commission of Inquiry into the British and Dominion Govern the Port of London's recommen- foreshadowed in the report issued allowed to proceed farther up the by the Imperial Wireless and Cable river. It has been stated unoffi- Conference.

cially, however, that the report Is The report proves the amal-now in the hands of the Ministry the purely "communications", buai-against the proposal. As a result the stock markets is the strength volume of business, in this section gamation. It proposes to separate of Transport, and is definitely neas of the various companies of this statement some interest of gilt-edged securities Almost leaves much to be desired.

from other assets and to form has been shown in the shares of without exception British Govern

Business conditions recently are Communications Company with a the London and Thames Haven ment securities stand higher to-day than at any time during the such that those with capital to In-capital limited at the outset to Oil Wharves, Ltd.

It was realised at the time the -whole of last year, the exception

Government-owned proposal was made by the port Exchange being War Loan, which is quoted eat will do well to restrict their £30,000,000. To this company will

operations to well-tested securities. be sold the

One authority that were it to come Irving Trust Co., Banca Commer

at 102. against a highest last year, Among the features for which they communications businesses, ciale Italiana.

when full of dividend, of 102.15/16. should look ars (1) Good past re-board of directors is to govern all into operation the business of this SAN FRANCISCO:-Bank of Italy.

Four per cent. Funding Loan at cords of steady earnings and divi- the companies concerned, and na-company might be affected serious- Every description of Banking and 90 compares with 88, Victory dend distributions, (2) free market tional and Imperial Interests are ly. Hence a fall in the value of the Exchange Business Transacted. Cor Bonds at 94% with 94%. Conver respondents throughout the world.

sion 32 per cent, at 77.15/16 with L. BERNIS,

77%, Conversion 4 per cent. at Manager,

99 with 994, and Local Loans at Hong Kong, 3rd August, 1928

65% with 64- THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853.

BANKERS: FRANCE:-Societe Generale, Banque Nationale de Credit, Banque de Paris et den Pays Bas. LONDON: Midland Bank Ltd.

NEW YORK:American

Agencies and Branches:

ALOB BTAB

(Malay Bite)

AMBITBAN

KUCHING

MADILAB

MANILA

INVESTMENT ESSENTIALS:

LAVOL

A drop on sectema sore or Nching erup» the and you'll be able to real and sleep poo more. Thinkjait dros it worth teyingi Cetical bottle today. di all good chemilla' shops, druggists, sin, Distributors, Muller & Phipps, 4. Queen's

Food, Hong Kong.

The to be proserved by the appoint- shares, which this year have touch- оп the Stock Exchange. second point is one of importance. ment of two Government directors ed 68s. 9d., as against the high- They of good in-and the setting up of an Advisory est last year of 100s. 6d. There are hundreds

are now quoted at about 885, and dustrial shares which pay those Committee to deal with rates. who hold them well, but which are The plan is a comprehensive should the reported decision only saleable at a loss because of one, amplifying and completing the confirmed, should go higher. The amalgamation of the wireless and company has, for the past four cable interests which received so years paid 16 per cent. dividend, hearty a welcome from investors. free of tax, equal to 18% por cont.

HONG KONG MARKET PRODUCE. APPROXIMATE RETAIL PRICES.

investor.

Similarly high levels have been reached by the leading colonial

the restricted market. securities, the five, por cent. issues

It should never be forgotten that in most cases standing at from 102 to 104, according to the amount a Stock Exchange dealer is not an Like a shopkeeper, he HEAD OFFICE: LONDON.

of accrued dividend: An exception buys to sell again. The price he ..£3,000,000

is to be found in Australian stocks, will give depends on the price he Paid-up Capital

.£1,000,000 Reserve Fund

which can still be bought at prices can get, and if the market la Reserve Liability of Propriu-

No £3,000,000 ranging from 98% to 99%.

limited he makes his price at a. tors

real reason exists for this dispar-level which will pay him for the ity except the sentimental feeling trouble, he will have in re-selling. Common-Thus a free market for a security that Australia, both wealth and States, is inclined to is a very valuable asset. This is We do not particularly the case in times like think any disability that may exist the present, when sellers predomin- is justly valued at the thres ar ate. Therefore investors should four points difference in quota for the time being at least confine tions. For all practical purposes their activities to securities that, Australian Commonwealth five perif necessary, can be sold easily. cent. stock is as good as those of There are, of course, many such Kenya. Nigeria, New Zealand, or securities, and those we mention South Africa, and it is therefore below by no means exhaust the cheap at three or four points low-list.

ANGKOX HATAYLA DONDAY CALOUTTA CARTON

CASPORE CKBU COLDKEO DLLEI

MEDAN NEW YORK

PERING

PENANO PESHA WALL HAKUOON SAICHON

TAVOY

SEMARANG

SEBEMBAS

ILAIPHONG

SHANGHAI

JAMBURO

SINGAPORE

HANLOW

BOURABAYA

HARDIN IN. Manchuria)

TAIPING

HING FORU

(F.36.8.3

110110

KARICHI

KLABO

EOBL

KUALA BANGSA II

TORDHAMA

ZAMBOANGA

KUALA LUMPUR

Fast V.M.8.)

TIENTSIN TOKYO

TUNUKAN Bhukat)

TSINGTAO

(Philippine Islanda)

Foreign Exchange and General Bank-

ing business transacted.

outrun the constable.

er than these, stocks are quoted.

BETTER FEELING.

RAILWAY ECONOMIES.

The reductions in the interim

re-

Beet Sirles

The continued support for high-dividends announced by the British Bullock's Brains

groups were expected. Current Accounts oponed and Fixed class investments has led to a rallway

year traffic Deposits received for 1 year or shorter rather better feeling in other de-Throughout the (26,508,570.)

periods at rates which will be quoted partments. Following the smooth ceipts have fallen heavily, and al-| on application.

completion of the settlement re-though some set-off in the way of cently markets assumed a decided-economies was hoped for it was ly more encouraging appearance. obvious that there was no hope of Prices for many good class secur- the whole loss in revenue being re- itles were marked, up, although it covered. It is clear, however, from is generally acknowledged that the the statement issued by the L.M. that substantial volume of business is small and and S group

NHANCHES:-Bandarmein Baudoing") Bombay,

Calautta, Charbon, iddah, Djember, Djoke). The

Padang Kota Kadi, akust,

TIDA Palambang. Tekla, Pontianak, Baron, Bellaedam 1. Sibolga Buanghal, Bamazing'),

Boersbela Blogapore, (DUA), Boerakarta (Sale), Team, Tilaljep and Wallorreder,"

*) These men karo salu dapanis bosue 10 lor.

Landon Beuters:-National Provincial Big Lod

Dopondeats all aver the world

Banking busina ni uvery demption tranmoled.

O. STEENSTRA,

Hong Kong. 28th August, 1924

Managar.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard-Haussman, l'aria. Bubscribed Capital .. Fr. 72,000,000.00 Fm. 68,400,000.00 Paid-Up Capital Reserve Funds.....Fra.102,000,000.00 BRANCHES:

Battambang Hong Kong Saigon

Bangkok

tantho

Canton

Hanoi

Mengtze

Nam Dinh

A. H. FERGUSON,

Maniger. Hong Kong, 3rd April, 1028.

THE BANK OF TAIWAN, LTD. (TAIWAN GINKO).

HEAD OFFICE:~Taipeh, Formosa

Incorporated by cial Imperial Charter, 9.

Central Bank for Formoss. Back-Notos Issued

Average amount Yen 45,000,000

BEANCHES AND AGENCIES:

done even

Leg

Shockder

Saddle

Rutcher Meat.

July, 20, June, June,

1928, 1918. 1914.

that rather subdued conditions are economies are still in progress, Calves' Head & Feet,.. expected during the current holl these, with some improvements in day season.

the results of subsidiary buai-Mutton Chop Home railway dividend oh-nesses, amounting altogether to nouncements were, on the whole, approximately 21,000,000 against Argentine the *£2,100,000 decrease in up to expectations.

in Pig's Chillinge experienced railway stocks are finding more traffic revenue favour on a belief that an amicable the half year. The Southern Com- botter, for arrangement has been arrived at

pany has JAPAN: Tokyo, Yokohama, Kobe, between the companies and the economies, particularly a decrease FORMOSA:-Quran, Kagi, Karenko, Government regarding tariff ques-in the cost of coal, have practical- Keelung, Hakong, Nante, Shin- tions. Foreign bonds maintain a ly offset the decrease of £320,000

Taicho, Tainan, Takao, fair degree of activity, particular in gross revenue. chiku,

by South American issues, which N.E. group reports economies off- Tamui, Toen, Heito, Taito. CHINA:-Shanghal, Hankow, Amos, offer reasonably high yields at cursetting about one half of the fall Pork Chop

Foochow Buatow, Canton.

in traffic of £1,500,000, Singapore, rent market valuations, OTHERS: Hong Kong,

The Great Western does not giveļ 要 Boerabaya, Semarang, Batavia, INDECISION IN INDUSTRIALS. Bombay, Calcutts, London, Now

Indecision charactérised any indication of its position ini York, Dairan.

Quaica.

Brainz

Feet Fry

The L. and

Bend Heart Kidneys

Liver

Cle. Cts. Ct.

each 15

རྭའབྲེལའཙྩོ

རྣམ རྐང ངད

*骨牌手由廣什

粪裤抽膦心展肝猪油油的餐

Capons, Small

Caponi,

50 60

Fowls, Hainan

Geese... Pigeons, Canton

**÷÷8* *8***|| 19989988 | 878 ****å 82 | 1

Poultry.

July, 20, June, Juno,

1928. 1018. 1914.

Cle. Cle. Cis.

本地露 1b.

3執肥楼班海新本海海火火沙山雪炫

Fruits.

བླམར་ཚོལ འམྦཱ དང་ ངྒ ནཊྛམྦྷཊྛོ -

pair

cach

45 80 81

*****88** *8 | | | |

7 each 14 BE

Lemons, China ............. ***

Lemons (America) --

16.

Licbres, Dried .....

金山排廠 each

荔枝干

新會刮版

គឺ ! ៩៥ គឺ ឌ ] និង អ៊ រ

⌘ཀླིvཨཱ

ཿa༧⌘1།

]}ཋཡཱཾཋམྦཱ།|

Oranges (Canton) Oranges

Pear (Canton) Peanuts...

Persimmons, Large

Pumelo, Biam

: each 12

12 →

12.

128TRAR |

4 t

13 lb.

Chicken

Prine Cut Corned Roast

28 12

23 12

40 28 80

Large

28 80

Breast

Duck

84 22. 21

康

Botp

Dover

A each 20

Stesk

•

Eggs, Hon

(cooking)..

per dox. 80

Steak Sirloin Satsigea

10 BO 25

Fugs, Hen (fresh)

新鮮

26 86

40 20

Fowls, Canton

Tongue, fresh..✰ Toogue, corned

par set lö each 85

40 24

each 60

www

Hend...............

$1.20

-$1.20

Heart

lb. 24

18 14

Holhow Turkeys, Cock

Hump, Salt

..4

18.

Foot

each

Kidneys

Turkeys, Hen Snipe Phearunt Quail

Liver

lb.

24 18

Partridges

Tripe

Bet $1.20 $1.00 $1.00

lb. 46

44... 24

Almonds.

t th

Apples (California)

Par set S

金山西菜

Erhansa (brida} ...

là th

Carambola

Coccanuts

-16

ть.

Lag

701

Lola

Some

Fat or Lard

LONDON BANKERS:

READ OFFICE: PEKING..

LIMITED.

Established 1880."

Baserve fund

་

Capital (fully pald-up) Yen 100,000,000 Yen 99,500,000 Head Office:-YOKOHAMA,

Batavia.

Bombay.

Newchwang. New York

The Bank has Compondants in the Comtraling various undertakings which led tems of this country appear to bel Cecirse in Europa Coutinest, Evala, Man- chute, Telngtan, Japan, Indo-China, Blem, India to a fair amount of liquidation. in the melting pot it is important Sucking Pigs, to order, ** Pallyjdas Inlanda, Java, Alrion, U.S.A, AustralIt can be said, however, that the that the shareholders should be Sust, Beef

theres allowed on Current Accounts, and Fixed

somewhat out of proportion to the Boards. · Des cases which will be quoud on applion set-back suffered in prices was taken into the confidence of the

J. HARA,

It has actual amount of selling.

Large though the capital invest- Deposits in Yaz ona be socepled,

to be realised that at this seasoned in these railways is, more will of the year very little fresh sup-be needed to bring them fully into port is to be asen to need any accord with modern requirements. realisations, and dealers naturally Electrification, for instance, car- mark down prices somewhat hasti-ried out so successfully by the Barbel

Southern, has not been, began in ily.

There are buyers in the market large areas of North and East Bream........... which are London. That capital will only be Canton Fresh

Water Fuh. for good-class shares

Cary considered cheap following the re-jobtained on reasonable terms when

Catfish actionary tendency of prices dur- the Board of the companies by $60,000,000.00 ing the past few months. There is frank and full disclosure of all the

Craba 18,278,600.00 support for such shares as Cour-facts once again obtain the con-

9,029,425.24

Cuttie. Flab taulds, Coats, Metropolitan-Vickers,fidence of investors.

At the moment the position is; and other regular dividend paying

The railways Dab

| Date (..) shares. Much caution is, however, extremely obscure.

obtained have

run powers: to necessary in making purchases, as markets may continue a little erra- motor traffic, but investors are Dog Fish" the during the month of Auguet. waiting with considerable anxiety Eels, Conger China and Correspondents in Europe, THE YOKOHAMA SPECIE BANK, America, and other parts of the world The oil section looks consider-to see what use they make of those London Bankers: The National Pro-ably brighter. The price of crude powers. It action takes the form vizcial and Union Bank of England, oll is advancing, and there is: a of a force competition with those itd.

The lead state is likely to be worse than The Guaranty Trust Company of possibility of a higher price for already on the conds, the last

petrol in Britain.. New York

New York Bankers: The Irving ing of shares are finding better the first. Then the labour situa support, with dealers reporting ation has again been a matter of Fortunately National Bank

The Equitable Trust Company of little more intercat on the part of serious discussion. New York.

The mining markets Agreement has been reached which Izberent allowed on Current Accounts the public. and Fixed Deposits. Terms on applica-are less disturbed now that French should result in a substantial say-

Every description of Banking Bari. seni transacted.

the Industrial share market early this matter, which is regrettable. Sheep's Head & Fost. per set 90 The London County Westminster and in the week. Rumours of an ad-In these days when the whole! great railway sya- PAST's Bank.

verse character circulated regard-future of the

Heart

each 12

Pluntafo

Kidneya

25 25

Walnuts

Liver

20 lb.

Grapan

20. 18

Muttom

·45

Vaal

Bantages

No. 1.

Fish.

19 24

Codfish

Fresh Water

Yellow

Frogs

Garoupa

Gudgeon

Herrira

Labrus

Losch..

Lobaton

ing on the heavy labour bill. The Mackerel decision will be heartily welcomed Monk Flat

Mulit by the shareholders for the last thing they desire to see Is a state Oysters

Manda

Quinhon

Shanghai Singapore

Tourane' Fart-Bayard Papeete

Vinh Peking Haiphong Bankow Prom-Penh Yunnanfs

Pondicherry BANKERS:

Dibonti Noumea Tientsin

IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas; Credit Industriel et Commercial; Societe Generale.

IN LONDON: The National Pro- vincial & Union Bank of England, Ltd.; 04 Comptoir National. d'Escompte Paris Credit Lyonnais.

IN NEW YORK: J. P. Morgan & Co.; French American Banking Cor- poration; Garranty Trust Co. of New

York.

Interest allowed on Current Accounts Fixed Deposits according to and arrangements,

Every description of Banking and Exchange Business transacted. Bafe Deposit Boxes to let

CH. LEK.

Manager,

Hong Kong, 28th August, 1928.

HONG KONG BRANCH:

Manager.

8, Des Voeux Road Central. Hong Kong, 2nd September, 1927.

THE BANK OF CHINA. 行銀國中

(Specially Authorised by Presidential Mandate of the Republic of China on the 2nd of November, 1917). Authorised Capital Paid-up Capital Esseres Fund

HONG KONG BRANCH:

4. Queen's Road Central.

Branches and Sub-branches all over

Branchen and Agencies at:

Alexandria.

Buenos Ayres.

Calcutta,

Canton.

Changchun. Daire (Dalny), Fongtien (Mukden).

Hamburg. Flankow. Harbin

Hang Kong.

·Fonotak:"

Karachi.

Zoba *Landenḥ

Lon: Angelus,

Lyota

Manila.

Osaka. Peking.

Bangoon. Rio de Janeiro, Saigon. San Francisco. Seattle. Semarang. Shanghai. Shimonora Singapore.

Soerabaya."

Gyday. Mantaine

Vladivostok.

rarily closed),7'-" ["on Current Account Ivod · for fred“, par

tained on apples

Loans granted on approved securities THE MERCANTILE BANK OF Special facilities for Home Ex

change.

SBOU J. CHEN,

Manager.

THE BANK OF CANTON, LTD.

Ratablished 1912.

• Head Ofices-Hong Kong. Letherland dejini (X.X. Outro), ...$11,000,000 1,663,900

PRANOBLES YO

Carica | Bhangbak. Hoskow, Birstow, Diangkok, Mér Kark, and San Francion

·S. LORDOJE -BAKKKES ——

Bye Lloyd's Bank Limited.”

700ARESPONDENT: PI

LOOK POONG SHA

و گواش

INDIA, LTD.

HEAD OFFICE

15, Gracechurch Barrel, London, E, O Authorised Capital £0.000.000 Bubscribed Cantal 1,800,000 1,050,000 Paid-up Capital ... Reserve Fund and rest. 1,534,846

BANKERRA

BRANCHEST

The Bank of Exelhed Idland Bank, Ltd. Bangkok Hongkong Kusta Luber HARKOD Kalaría, Hamrah Kan

Kantan Panne)Bhasykri.

Biml Rambay Ipoh Madena

Caloutta Rindy New Yorkbar Colomb Karch Tenang Benrabaya Delhi: Kota Bhara Port Louis Maitian) Gallag

HONGKONG"BRANCH Keep

Every description of Banking and Eisberg busk SEINTEREST HOT on Current Accounts and Pised Deposits at fates that may be ascertained on application

Hong Kong The Sept. 1023

of internal warfare between the Parrot Fish rallway boards and their em Perch ployees. These three matters Pike alone-electrification, motor traffic Place and labour contain within Pomfret, Black themselves the whole future of Pomfret, Whita these great organisations. Their Prawns solution on the basis of what 18 Bay best for the pubile service will Rock Fish also involve the best interests of Bosch the large army of investors whose Salmon money is at stake. Any narrower Shark outlook than that can only mean g further loss and disappointment.

ALL-BRITISH TELEGRAPHS.

The plan proposed for ang British telegraph

will be free from Government in terference and at the same time

SRE_FINEM KEREKEKOFFIERIJENURESEDENTA

او

Vegetables, &c.

each

lb.

30 20 16

29 18 18

32 18

24 19

Artichokes ... Beaca, Sprout

Long

Best Boot Bitter Squash Brinfals, Green

Red....

Cabbage, Chiness

Cane Shoots, bunch....

Caulidower (Large) ..

20 25

25 23 28

20 16 2

28. 18

Carrota

10 8

80 10 13

'21 28 80

65 82 25

40 80

Cocumbers

22 18

Garde

20 18 28

1816

24.

22.18

45 23 24

1515 85

32. 21

20: 26

2518

20 22

Okroos

85 16

3/18/

1:30 40

(Shanghai)

PRCB444EES

(Medium).

*** each

(Small)

中嘯:花

塑椰菜花

25 25

花椒

Celery, Chinesa

Chillies, Dried

Red.

Green

Cory Staff, English-

Ginger, Young

Old

Horseradish, Shangha

Jadian Corn

Lettuce

Water Chestatis

Mushrooms, Fresh

Onions, Bombay

Shanghai

Sweat

涼材

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