HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorised Capital
Imued and Fully Peld-up
Reserve Funde-
------- $130,000,000
Blading...................£. 0,023,000
SÜT $14,300,000
20,000,00
Usmerve Linbility of Proprietom. 50,000,000
HEAD OFFICE: HONG KONG.
BOARD OF DIRECTORS :—
N. 6. Brown, Een.
Chairman.
1. H. Boll, Faq
spy ChainB.
Hou. Mr., D, P. Bath,
A. II. Compton, Bag.
M. T. Jahnson, Esq.
B. Lauder Lewis, Esq.
ΑΜΟΥ
BANGKOK
BATAVIA
BOSEWAY
W. L. Pattendan, E T. E. Poarco, Eng.
J. A. Pluramer, Erg.
J. P. Warren, Eng.
Chist Margot.
Men. Mfr. A. G Flye
DRANONES:--
LONDON
LYONS
CALGÚTTA .
MALACCA
MANILA
CANTON
CHEFOO
COLOMBO DAIHEN FUOCHOW
HAIPHONG
HAMBURG
HANKOW
-HARBIN
HONGKON
ILOILO
1PON
JOHONE
KUBE
HOWLOON
KUALA LUMPUR
MOURDEN
NAGASAKI
NEW YORK
PERISU
PENANG
FRANGOON
SAIGON
SAN FRANCISCO
SHANGHAJ
SINGAPORE
NOURADATA
SUNGHI PATANI TIENTRIN
THINGTAO
YOKOHAMA
Current Accounts opened in Local Currency Fixed Deposits cuived for our year ar shorter garlod In Local Carrency and Sterilo az term which will be quated on application. Hong Kong, th May, 1929.
HONG KONG SAVINGS BANK.
The unit of the abore Bank is conduct.
ed by HONG KONG AND SHANGHA HANBING COSTURATION. Rules may be olasined un uppķertion.
FOR THE HONG KONG & SHANGHAI BANKING CORPORATION,
A. NES,
Chief Manager.
sung. 18th Septembar, 1027.
NEDERLANDSCHE HANDEL. MAATSCHAPPIJ, N.V.
(NETHERLANDS TRADING 6001ETY)
JANKERS.
Patablished 1824
-
www.www.
-
Guiders 150,000,000. (£12,500,000.)
flodg Kong (fice11 Queen's Rood Central
Qulkorised Capital
Paid Up Capital Rosers Fund
GuNr 80,006,000
(3,606,687.
.......... Duilder 40,000,000
(3,804, 389.)
Load :-4MSTERDAM). Eastern Head Ofica >~~BATAVIA, DBANCHES-Bandjotain landong) Bombay,
Calcuti, Cheribon. Derabas, Dick jakaria) the Hingno”), Jeddak, Kabu, Kola Rádja, Maunooniy Medan, Padang I'esbang. Peksiuugen. Pousog Poolisok Rangoon, Rotterdam), Shanghai, Sibolg Bingapore,
Boarabain, Socrakerta (Balok, Topal, Tjilatjap and Welceraiden.' These Boue hay male deparis bozen in lot. London Bankers-National Provincial Bank Ltd. forspoalanin quar the world
Banking business of ovary
dcapten ansied
P. H. ELBERG
Болд Боов для Mari 10-200,
Kaneger
BANQUE DE L'INDO - CHINE.
HEAD OFFICE:
36, Boulevard Haussman, Paris.
Subscribed Capital. Fra. 72,000,000.08 Paid-Up Capital...Frs. 68,400,000.00 Reserve Funds ....Frs. 102,000,000.00 BRANCHES:
Bangkok Hong Kong Quinhon
Battambang Hue
Cantio Canton
Saigon
Meng ize Shanghai NamDinh
Neamea
Djibouti Fort-Bayard Papeete Haiphong Peking
Hankow Hanoi
Singapore Thanhea Tientsin Touran Pnom Penh Vinh Pondicherry Yunnanfu BANKERS:
IN FRANCE: Comptoir National | d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas Credit Industriel et Commercial; So ciete Generale.
IN LONDON: The National Pro- vincial & Union Bank of England, Ltd.; Comptoir National d'Escompte de Paris; Credit Lyonnais.
IN NEW YORK: J. P. Morgan & Co.; French American Banking Cor- paration; Guaranty Trust Co. of New Yark.
Interest allowed on Current Ac counts and Fixed Deposits according to arrangements.
Every description of Banking and Exchange Business transacted.
Safe Deposit Boxes to let.
A. LECOT,
Manager.
Hong Kong, 1st May, 1989.
Established 1830. Capital (fully paid-up) Yen 100,000,000 Yen 108,500,000 Reserve Fund
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter, 1858. HEAD OFFICE: LONDON. Paid-up Capital
Agencies and Branches:
.£3,000,000
Reserve Fund
.£4,000,000
Reserve Liability of Propric-
tors ..
.23,000,000
ALOR GTARE
KUALA LUMPUR
(Misley Bates)
KUCHING
AMRITSAR
BADRAS
BANGKOK
MKDAN
NEW YORK
DATAVIA BOMBAY CALCUTTA
CANTON
CAWSPORE
CEDU
VOLUHBO
DALPEN Dalay
South Mancheria)
DELHI
HAIPHONG
HAMBURG
HANKOW
JIARDIN
(N. Manchuri
HỒNG KONG
ILOILO
[POR
KARACHI
KLANG
KOBE
KUALA KANGSAR
MANILA
PEHINO
PENANG
FESHAWAR
BANGOON
SAIGON
SKMATANG
SEREMBAN
SKANOHAI
SINGAPORE
SOURABAYA TAIPING
(F.M.8.) TAVOY
TIESTSIN TORTO
TONGHAI (Bucket) TSINGTAO
YOKOHAMA
ZAMBOANGA
(Philippine Islanda)
General
Parak (F.8.6) Foreign Exchange and Banking business transacted.
Current Accounts opened.. and Fix- ed Deposits received for 1 year or shorter periods at rates which will be quoted on application
A. H. FERGUSON,
Manager. Hong Kong. 8th January, 1929,
THE CHINA MAIL,
CENTRAL BANK
DEPLORABLE STATE OF KWANGSI FINANCE
TAXES DWINDLED
COMMERCE
AND
FINANCE.
For instance, the annual returns of acceptances by British barks last year Beef year showed avery substantial increase over the figures for the preceding year, while the increase pince 1010 has been nearly £100,000,000. Even the increase in 1928 over 1927 was as much as 73 per cent. The actual figures are as. follows:-
"Acceptances by British Banks. an interview to-day with Mr.
The "Big Other Chow Man-chor, the managing diree-Year. Five" banks banks. tor of the Central Bank, our correspon-1919 104,400,000 28,700,000 133,100,000 dent was informed that as previously explained the total note issue of the bank is $21,000,000 against which the
In
Canton, Saturday.
Bank has in ita vaults and at the Government Mint $15,000,000 reserve. Of the banknotes, $1,100,000 hear the Chinese "signatures of Chow Man-chor these are new notes: $13,000:000 are new in circulation, and six to seven million dollars are sealed up in the possession of the merchants. At pre- sent, according to the recent notice issued by the Bank, only notes with Chow Man-chor's signaturos can be exchanged for coins Asked when the old notes will be redeemed; Mr. Chow replied that redemption will take place He further remarked in two weeks. that the suspensies of the exchange of the old notes is a temporary men- $20,000,000 sure to allow the disturbed state of the
8,000,000 market to ease off. 4,000,000 Reservo
Shareholders
4,000,000 Surplus
2,219,000 HEAD OFFICES: SINGAPORE. Branches, Agencies and Correspon dents in the principal cities of the
THE HO HONG BANK, LTD. (Established 1917.)
Authorised Issued
Paid-up
world.
CAPITAL
Liabilities of
Every description of Banking and Exchange business transacted.
TAN ENG HOOL,
Manager. Hong Kong, 15th May, 1929.
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO)
HEAD OFFICE:-Taipeh, Formosa. Incorporated by Special Imperial
Charter, 1899.
יי
Corical Bruk in Formosa. Book Notes issued Amaruge amount ... Yen. 15,000,000 BRANCHES AND AGENCIES:
| JAPAN 20 Fukye, Yellans, Kobo, Oslo
FURMUSA-
Kagi,Karenko, Scolu Sakong, Nanto, shinchiky, Tatcha, Taina, Takao, Tainaut, Toan; Basto, Taite. CHINA:-Shanghai, akow, Amoy,
Swuwow, autos.
OTHERS-Hong Kong, Singapore,
S+RDS, latvia bombay, Loudon, New York, Daiton
LONDON BANKERB:
Ferchow, Borbay,
Calotom
The London County Wertmissing and Parr's Hank.
The Bank Correspondeule in all the prin cipal Comunercial Contres throughout the work
A. SAGURA,
.htanager. HONG KONG BEAŃCU
Les Voeux and Contra). Hong Kong, lath January,, 1929.
Help For Kwangsi
Our correspondent also enquired as to the state of frances in Kwangsi. Mr. Chow sat that Kwangsi finances are in a deplorable state. The Kwang notes have depreciated materially The Kwangsi coins are discounted. 20 per cent, against Kwangtung coins. Questioned whetitar Kwanglung is fin ancially supporting Kwangsi, Mr. Chow replied in the negative, but sald that the National Government remits through the Central Bank a sum of | 8600,000 a month to Kwangsi. This, together with the provincial taxes which have dwindled down of late, is all the revenus that is going to the Kwangsi Government-Canton News Agency.
STATE CONTROL
POLITICAL MOTIVES AND NATIONALISATION
COLONIAL BANKS
Mr. I. Beaumont Pease, (chairman
HỒNG KONG
MONDAY, SEPTEMBER 30, 1929.
MARKET PRODUCE.
APPROXIMATE RETAIL
Poultry.
Butcher Meat,
Sirloin
Prime Cat
Sept. 19, June, June,
1929. 1018. 1914.
28 24 22
Doves
PRICES.
Sept. 19, June, Juno,
1929. 1918. 1014.
Cla. Ct. Cta.
Cts. Cts. Cts.
4 RE
B. 28
24 12
Chicken
80
*28
11
鏡
lb.
-30
31
t
71
Capons, Small
Gurned
28 12
線D
28
D
Capons, Large
Rcast
慈線料
H
28.
11
Breast
Soup
하
#4
#
Luck
11
22
24 20 18
24 20 18
J
Steak
Eggs, Hen (cooking)..
28 24
92
Steak Sirlon
Eggs. Hen (fresh)
班 | .cach – 28
新鮮雞蛋
per doz. 28 18...
"
Totul.
+A
36 90
85
Fowls Ganton
Th:
36
* 24-
J
32
26 20
M
Der Bet 15
10
12
Fowls, Hainan Geese
Pfreeca, Canton
THE V XA
白
35
-24
each 35
80
Holhow
Turkeys, Cock
海口 火雞
Ib.
Sausages +
1927 118,200,000 11,700,000 129,900,000 Bullock's Brains..... 1928 205,700,000 18,800,000 224,500,000
Includes endorsements, gentunteen, confirmed credits and other obligations. It should be remembered also that 1919 was a blom year and one of high prices. The value of money is now higher than at that period, and there is a greater purchasing power con- ccaled in the 1927-28 figures, which must be borne in mind in comparing them with those of 1919.
aph
SURVEY OF JAPAN
LACK OF ENTERPRISE FOLLOW- ING RETRENCHMENT SCHEMES
✓
Tongue, fresh
Tongue, corned
Head
Heart
Hump, Salt
Fect
14
Kidneya
Tail
รา
Liver
11
Tripe
Calves' Head & Feet. #4 Mutton Chop
羊排
Leg Shoulder Saddle
#
Pig's Chitkings
Brains
Fect
Fry
Head
#
2
Heart
Kidneys
Liver
*ይ
13
Leg
Loin
17
Fat or Lard
"
OPTIMISTIC UNDERTONE
Although the new Government was expected to pursue a conservative policy in financial matters, the extent to which retrenchment is to be practis-. ed has caused surprise and dismay in comi- of the business some sections munity. In general, however, the new policy has been received with gratifica Tork Chop tion by the whole nation and the greet banking leaders in particular. The Government is planning a campaign of education to prepare the nation for the necessity of a period of declining prices. Sheep's Head & Feet. and deepening trade depression which must inevitably precede and follow the abolition of the gold embargo.
There was
symptomatic decline in our general index of wholesale prices Sucking Pigs, to order which averaged 168:31, as against Suet, Beef 172.63 for the preceding month. decline was equally severe in ducers' goods as well as in consumers' goods. goods.
Heart
F
43
Kidneys
Liver
31
The average rate of foreign change on New York was 46.25 com- The $44.05 for June. pared with
disclose average does not, however, the spectacular advance of Japanese Darbel exchange which rose $43% at the be-
Bream
The pro Ven
Matton
Sausages
No. 1.
Fish..
蛟
ginning to $46% towards the end of the month. This radical improvement Canton Fresh Water b was entirely due to the announcement
Fish
Carp
M
Cuttle Fist
of the new Government policy of fin.: uf Lloyds Bank, London), in an inter-ancial retrenchment and preparation view with the "Financial Times" stated pending the speedy return to a gold Catfisk that not the least important factor basis.
Codfish which has contributed to the develop
Rice
declined sharply Crabs. quotations nient of London as the great financial owing to favourable weather conditions centre has been the policy of encour- and beenuse of the belief that the new aging foreign financiers and branches Government was disinclined to bolster Dab of overseas hanks to establish them up prices by the purchase and storage Dace. selves within her walls. Consequently of superfluous stock. The monthly Dog Fish there has always been free and un- average was Y. 28.52, as against
Eels, Conger THE BANK OF CANTON, LTD. setricted competition, and never has Y. 29.51 for the preceding month.
that competition bean more severe and more acute than it is at the present time--and, moreover, there has never been a time when the standard of Lon- don banking and finance was higher or better established than at present.
What would be the probable offcets on London's prestige as a financial
Established 1912.
Head Oflice-Hong Kong.
Aetherland Capitul [U.K. Cerronny) ..$11,000,000 Sund Ep was tagge
BUKA, ZNA AUTO I Had
BENLOAD
HANCHES- Ceaton, Naunghai, Haskow, Gratow,
LANDIN BANKERS:- The Lloyd's Bank Lifted. Correspodents in all principal cities of the Xorld.
Raw Silk
4
Fresh Water Yellow
The sharp recovery in Japanese ex- change had a depressing effect on raw Frogs ailk quotations. Large consumption in Garoupa the United States and active transac
Gudgeou tions in the domestic market prevented
centre in the case of the Socialist plantar passed. Quotations for Halibut
Buugbok, New York and den Frazao. for nationalisation being put into operation? nsider, in the first place, the anomalous position that would be created if private, foreign and colonial bunks were allowed to carry on their business in the usual manner, while the British banking system, controlled and directed by the Government, was fettered with the bords of nationalisa tion.
Foreign exchange and banting budaase of wwers description "transacted.
Sels Deposit Boxsa (various sizes) of a yearly matel of Team $5 to $40.
LOOK POONG "SHAN,
Chief Manager. Hong Kong, 19th February, 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 Reserve Fund
Overseas Customers
One can examine this problen from two standpoints-first, the relations of British banks with their customers overseas, and, secondly, their relations
a further slump after the middle of Herrings
Y1286. about Y. 30 lower than the apot (new crop) averaged
Labrue Arrivals at Ycko- Loach previous month, hama and Kobe showed a new record, Lobsters reaching 122, 110% coli or more than Mackerel
volume of the preceding Mouk Fish twice the month. Exports were stimulated by
Mullet expectations of a further advance Japanese exchange and Lutalled 50,107 Oysters bales, an increase of 15,000 bales com- pared with June.
each 65 50 60
..: $1.20
60-
$1.20
(b. 24 18 14 84 20 18 each 10 10 12 15 10 12 22 2.5. 20
24 18 14
8
7
Torkeys. Hen
Snipe Pheasant
Quni! Partridges
Fruits.
+
Almands
Coconuts
pair
each
-
Turiass A DARK | SSS
26
SE
28
$1
៩.៩១៨ វុន ឌ | | |ឌ | |
set $1.20 $1.00 $1.00
46 26
45 26
lb. 60 35
44 24
45
Apples (California)
*
金山韩藥
24
24
30
27
Bananas (bride's)
蒸山香蕉
6 4
Per get 3
Carambola
戳
铫
13 12
16
15
#
28 16 18
子 each
12
10
10
18 20
Lemons, China ................... #
撒 db. 10
25 80
each 15
10
IU
Lemons (American)
金山林森 each
8 R
13 10
Lichees, Dried
48 30
24
#7 lb.
25
80
34 25
Oranges (Canton)
新會淨機
34
Oranges
#
38
70
Pears (Canton)
沙
梨
"
18
21
Peanuts
頭脚 per set 92
60
70
莅
生
13
77
cach 11 8
7
Persimmons, Large
**
Mi
12
16
15 12 10
Piantain
* B
5
+7
46 28 25
# each 16
25 26 22
18
30 20 18
13
43 26 26
菩提子
45 77
קו
30 20 20
11
92
"
28
1b.
46 16
24
42. 20
16
རཚོ་ང རྞ ༅ བབྲུ ། རབ མ འཕྱ ས ང བའྤྱི ཀ ཎྜ ཁ བ ཆ ཆཙྩེསྨིཾ ལངྒམ
順心肩脚腰尾肝沚脚骨髀肉股腦翮什心腰肝骨脾脚心肝猪油油肉腸
牛仔仔
魚魚—」魚魚 魚 沙鳘魚鱔魚白花魚蝦魚魚魚蠔魚芒魚鎗蝦鯊魚鮪魚 蚊槁鰤垂 黄海淼鬨田石白將黃烏龍芒濟鮮風花班白盤明衆石崇馬沙精緻立尤左
ឌ ឌឹ ឬគ ៩ត ៖ គឺ ៤. ឥតគឺឌនង៖ ឧ ទី ៩ ៦ ៖ គ គ ម ៖ ៩៩ ឌឌទី៥៖ ប្ត DE
尾肚. 水
# #
Parrot Fish Perch Pike
雞公
The cotton yarn market was steady en the whole, the advance in Japanese exchange as a depressing factor being Plaice
with the British public, Assuming raw cotton quotations during the Pomfret, Black
were
counter-balanced by the rise ir Ameri- Pomfret, White
latter part of the month. The monthly average Y. 242.56, as against Y. 240.90 for June. -
Foreign trade during Jaty resulted
very
Y:21,549,000 for
Money and Stock Market
of
Prawns Ray
花班
魚魚魚魚脚
Pumelo, Siam Walnuts
Grapes
4 lb.
Vegetables, &c.
Artichokes
Beats, Sprout
19
Beet Root
Red Cabbage, Chinese
לל
Old
竹菜唔頌瓜瓜瓜菜菜笋 花花花笋菜干 椒椒料瓜 米亞諾菰菜薯仔孖仔菜菜頭菜
each
lb.
"
it
H
| * * * * * * * *ATI * 18822-929*****
ཆོོ མ འཐཱ ⌘ rm 3 | | | ༅ སྐྲ ༅ འ ། }
10
15
12
12
12
∞ ∞ | | | | | * | * | ¦ * * * * *** [
4
6
Long
14
10
Bitter Squash
24
46
&
Brinjals, Green
40
15 16
5
JP
40
11
16 27
10
JJ
48
-12
9
37
17
2
FI
33
26
95
27
(Shanghai) Cane Shoots, bunch Cauliflower (Large)..
28
12
10
}
each
31
(Medium) 中椰菜花
J
52
16
*
20
細櫏榮花 (Small)
Carrots
金錢
8
6
36
8-
Celery; Chinese
10 6
Chillies, Dried
辣椒干
32
25
18
37
Red
69
30
紅辣椒
26
25 5
10 -16
Green
7
26
青花椒
10 8 12
27
30
1.
30
Curry Stuff, English..
19
10.
ફ્
Cucumbers
6
2
38
18
Garlic
10
38
23
*
6 6
Ginger, Young
14 7
96
13
10
10
56
18
24
Horseradish, Shanghai,
8
Indian Corn
45
52
21
Lettuce
'14
1
46
26
38
2
10
36
2
鮮莖
45
34
+
Okroes
14
1
15
Onions. Bombay
洋葱
3
8
8
.9
Green
4
*
42
29
Shanghai
上海熱
6
€
54
80
Parsley
25 60
42
45
Potato, Sweet
5
8
56
14
Japanese
日本磨仔
R
20
14
Américaú
金山農孖
3
28
18
Pumpkin
аб
10
Radish
46
30
Rhubarb (Fresh)
紅纇公仔 犬
5
10
24
10
Shallots
干露
30
24
10
Spinach
K
52
30
Tomatoes
10
68
35
Taros
7
40
28
&
3
34
22. 13
38
- 18
12
8 8
92
4 15
34
1999 8 9 8 6989-*********22*********?
Water Chestants....
Mandarin.
Mushrooms, Fresh
↓す
Turnips Fundi (Long)
Vegetable Marrow
Water Cress
Water Lily Root
It may fairly be said that every line of business has in an alnfest satisfac tory way accomplished a promotion of higher standard of efficiency, a reduc- tion of cost, for rationalisation of management and the devolution
医洋
還.
H.K. BANKING
*EAST ASIA" BRANCH IN HAIPHONG
CHIEF MANAGER'S VISIT
In about ten days, a branch will be opened in Haiphong, French Indo-China, by the Bank of East Asia, Ltd., the head office of which
in Hong Kong.
that foreign and overseas banks allowed to compete side by side with State controlled British banks, one
Centrifugal and refined sugar was Rock Fish would expect to see a tendeney for business to flow from the State banks again strong owing to a reduced crop Roach
in $60,000,000.00 to the private banks.
Java and sales organisation by Salmont Cuban interese. Wheat flour profited 18,278,600.00 The British public are not likely to
Shark 9,620,426,24 repose more eoufidence in a State bank by unsatisfactory wheat conditions in
controlled by
a Socialist Government lia-
Canada, the United States and Austra- Skate HEAD OFFICE: PEKING. than in private banking concern
Conference prices of domestic | Shrimps whose business is conducted on non-
mills
were marked up six times dur-Snapper HONG KONG BRANCH:
political and non-party lines, and in the month, the latest quotatie: Soles 4, Queen's Road Central. whose existence can only be assured reaching Y. 4.05 per bag.
and maintained by giving satisfaction Branches and Sub-branches all over
The cement market was depressed Teach There would always owing to seasonal slackness and Turbot China and Correspondents in Europe, to its clientele America and other parts of the world be the danger that a State bank would anxiety as to the effects of the new Turtles, amall, fr. water
London Bankers-The National tempted to allow its policy to be Government's retrenchment policy on Provincial and Union Bank of Eng-would favour individuals and indus.
influenced by political motives; that it building enterprise. Land, Ltd.
The Guaranty Trust Company of tries the merits of whose position would satisfactory, exports totalling 1,275 million yen, a deerenae of 11 direction. A further decline will be
Y 188,308,000. not justify a loan on sound financial New York.
an increase New York
million yen compared with the previous necessary to allow the Japanese export Y. 27,234,000, and imports Y. 166,754-month, but still slightly in excess to trade to remain unscathed during the tankers: The Irving
consideration. National Bank.
Foreign and overseas banks would 000, an increase of Y. 3,550,000 corn- the July totals prior to the financial period of rising exchange rates which The Equitable Trust Company of therefore tend to increase their best pared with the preceding month. THE YOKOHAMA SPECIE BANK, New York
crisis. Advances by the Bank of will automatically increase the cost of an export surplus ness at the expense of British banka: There wAS
showed a decrease to 697 million Japanese goods in other countries. Japan “LIMITED.
Interest allowed on
more and
more branches would be
the entire month Current Ac-
opened up, their interests extended, which reduced the adverse balanes of the first time since the financial crisis. taining prices will make it compulsory
yon, passing below 700 million yen for The impossibility of artificially main counts and Fixed Deposita. Termas on their prestige increased; while, at the trade for the first seven months of 1929 Special accommodation collected dur to carry on production in a more ra application.
Every description of Banking Busi- to become less and less efficient.
same time, English banks would tend to Y. 260,880,000. A recovery Wasing the month amounted to 4.5 mil tonalised form that has hitherto been
especially pronounced in trade with lion Bess transacted.
nyen bringing the total of reim attempted. In regard to the velations of the Central China..
bursements to Loaus granted on approved secur- British banks with customers abroad,
77
million yeng ities,
Capital payments during July were Special facilities for Honia Ex-
these might well become of
a very
A slight relaxation was noticeable at about the level of the preceding change.
complicated nature. Imagine that the on the money market in reaction to the month, but the issue market was usually German Reich and the Bank of France seasonal half-yearly settlement re-active, new fixtures amounting to 187 SHOU J. CHEN, bath canze to the Bank of England for quirements of funds during the pre-million ven as compared with 21 mil
Mr. Kan Tong-po, the Chief Manager. a loan, and the Bank of England was ceding month. As the spirit of neter-lion yen for the previous month. overcapitalisation. Furthermore, steps from a visit to several places down of Manager, has just returned here under State control. How far would it prise-is now at its lowest ebb, the The conservative policy of the new are taken towards co-operative efforts South after making the necessary be possible to separate the financial forthcoming return to a gold basis does Government as regards the future issue in the rationalisation of enterprises in and the political considerations in not yet create any symptomatic stiffen- of national bouds affected hond quota general, through concentrating THE BANK OF EAST ASIA, LTD. volved? If the German bank were ing in money redesz
and arrangements for the inauguration tions favourably, the daily average for controlling production and transaction. at Haiphong. where the Chinese given a loan and the French bank re- HEAD OFFICE: HONG KONG.
The average of the minimum dia "Kogo" bends reaching Y. 92.82, as fused credit, or vice versa, a very de count rate declined to 1.146 sen (4.08 against Y. 92.52 for the previous
Future Outlook
community numbers about 50,000. 10. Des Voeux Road Central, licate international situation might per cent.) as compared with 1.208 sen month.
In spite of the sacrifices which the Singapore and other cities in Hong Kong.
arise. Finance and politics cannot (4.40 per cent) for the previous
face, the Malaya were also in Mr. Kan's In contradistinction to the steadi-nation is now called upon Authorised Capital .$10,000,000 work hand in hand. Paid-Up Capital
month. The maximum rate was -ness displayed by bonds, the share mar- undertone as regards the future econo-it nerary, his purpose being to 5,000,000
Diminution of Prestige
"changed.", VI 1,500,000 Recent financial history,
if it has
ket was severely affected by the remic outlook is fairly optimistic. The The day-to-day rate also declined to trenchment policy pursued in publie favourable development of external study business conditions down AGENCIES: shown anything at all, has shown that an average of 0.819 sen (2.99 per finance, as well as the prospective re trade han in a measure allayed the there with a view to further expan-
San Franciéto no State or Government can be trust cent) as against 0.872. den (3.18 per turn to a gold basis. The average anxiety as to an undue outflow of sion. Scattle
ed not to abuse any power it may baye cent.Cell money transactions dur-price of 30 industrial shares declined Spoele after the gold embargo has been
Mr. Lui Hon-san will be manager York Semarang
over a centra: banking system, and ing the month were exceedingly low, to Y. 85,04 as against X. 60.97 for the removed. British banks were subjected to State the balance on the 27th totalling only preceding month and the average qua
at Haiphong, the staff of the estab The abnormal discrepancy existing ishment in the new office being control the inevitable result must be a 43 million yen, a minimum record for tation for Tokyo Stock Exchange Co. between interest rates in Japan and dimlution of oar prestige abroad the past several years.
States,
made up of men transferred from Kobe Penang
London's status as the centre of Both deposits and advances of the Y. 185.60 for June. There was a slight
shares was Y 121.24 compared with abroad, notably the United
causes some uneasiness in financial Hong Kong and Saigon. Kowloon Rangoon
ternational finance would necessarily banke affiliated with the Tokyo Clear recovery towards the end of the month circles although it is generally admitted London Saigon
suffer to the advantage of other intering House showed a decrease, but the but
that even this condition the fundamental tendency con
eauct rational centre: New York, for in cash balance increased remarkably, the tinued weak The daily average of Jeopardise the Manila Shanghaf
abolition of stance, whose development in pest-War total towards the middle of the month Stock Exchange
gold Correspondents in all Interest alowed on Current Aceitles of the world,
all principal
The enforcement of this transactions in embargo, years as an international financial showing a high record since the begin-creased to 77.440 shares, as compared measure is now generally looked for- centre has been phenomenal. Neverning of this year. Deposits received for fixed periods Exchange business transected Loans theless, in quite of the competition-442 millions, a larger gum than at 10 A 127,420 lares for
Every description of Banking and theless, in spite of the competition: henks at the Bank of Japan reached month and 117,420 shares for Jaly, mert is endeavouring to equalise the Deposits by city with 58,460 shares for the preceding ward charly next year. The Gayern, granted on approved securities,
burden on industry through a judicious SAFE DEPOSIT BOXES to let
tem, under private enterprise, founded any time since the expiration of emer
rovision not necessarily upwards, of on long years of experience and high geney accommodation in May, 1928.
the curtom tariff and is also taking KAN TONG PO,..
tradition, bald so far, more than main-1 The daily average of the note, ingat
The severe decline in commodity measures for the fostering of the ex- Chief. Manager” tained its position.
✨ of the Bank of Japan contracted to prices during July is a stop in the right | port trade.
Head Office>YOKOHAMA,
Branches and Agenties at:
Alexandria
Batavia Bombay
Buenos Ayras Calcutta
Canton
Changchun
Dairen (Dainy).
Newchwang New York Osaka Peking Eangoon Saigon
Rio de Janeiro
Feagtien (Mulden) Beattle
Hamburg Hankow Harbin
Hong Honolulu
•Kong
Kai Yuen Karachi Kobe
London Los Angeles
Nagasaki
Nagoya
San Francisco
Semarang Shanghat
Reserve Shimonosekl
Singapore Soerabaya
Sydney Tientsin Tokyo
sination
Tsingtan Vladivostok
(Temporarily closed)
at rates to be obtained on application
H. MORI
* Manager. Hong Kong 11th September, 1929.
BRANCHES A Batavia Melbourne Bombay Nagasaki Calcutta New
Osaka Canton Haiphong Honolulu Parla
Piping
Singapore
Sourabaya
Sydney Тайтей Tientsin
A Tokyo
Summary and Outlook
the
Drive a Trusty
"TRIUMPH"
the Motor that never fails you