HONG KONG SAVINGS BANK. Surplus
The size of the above link in soduos
ad by GNG KONG AND BHANGIAI
Rong Kong, 19th September, 1927.
READ OFFICES:-SINGAPORE. Branches, Agencies and Correapon. denta in the principal cities of the tion: world.
Every description of Banking and Cash reserve, Exchange business transacted.
TAN ENG HOOL
Manager. Hong Kong, 15th May, 1929.
1,851,062.00
The total value of exports for 15,365,662.00 the year $74,849,918, or $17,288,127 more than the previous year. Imports were valued at E $32,636,833, or a decrease of Pork Chop $3,739,537. The balance of trade in! favour of Alaska was $42,213,085,! compared with $20,566,605 for the
previous year, or an increase of Sheep's Head & Feet more than 50 per cent. This was attributed almost entirely to the
greatly increased salmon pack.
2
HONG KONG AND SHANGHAI BANKING CORPORATION,
20,000,000
Kuskozier Engelful $50,000,000 Essued col Fully Pudup Heart Foods:-
................ £8,LANK LA Ber......$144), NG
Ben Losity of Propelatara
... $90,000),(10
HEAD OFPICK: HONG KONG.
J
BOARD OF DIRECTOR:
W. 1. el. Kay. Chairman.
J. A. Pummar, Eaq. Deputy Chairman.
B. D. 9. Both, Esq.
L. H. Compton, Raq.
M. T. Johnson, Bet.
A. Loafer Lawių, Zaq.
AMGI
BANGKOK BATAVIA
KOMBAY
CALMUTIA CANTON.
GREPOR
LOKBO
VALEN
NATIONG GAMBOBO
MANIOW
RONIKEW
TLOILO
POE
101011
KOZE
KOWLOON
W. L. Pellenden, Yog.
T. E. Paros, Esq.
T. 11. 1. Shaw, Eng.
J. P. Warred, Kag
Calət Managır.
on, Mr. O. Hymen.
DRANCHED:-
KUALA LCKPOR
LONDON
LYONS
MALACOA
MANILA
MOURDEN MUAR Coupuj NAGARAKI
NEW YORK PRIPINO
- PENANG
BANGGON
-BAIGON
MAN PRANCISCO
STFARO ITAL
SINGAPORE
SQUITA BAYA
HUNGEI PATANI TIENTSIN
TOKYO
THINOTAO
YOKOHAMA
Charmes Accounts opened in Los Cursos and Pind Dipolis reared for one your ne shorter parloda is Lori Currsany ward Sterling wes which will be gre on application Hong Kong, dantuky, ka
BANLING CORPORATION.
Bulve may be
sbiala on application.
FOR THE HONG KONG
BAKLING CORPORATION.
#BEANDDA
A. o. Nes,
Chist sanger.
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1851. HEAD OFFICE: LONDON. Paid-up Capitul
Reserve Fund
Keserve Liability of Proprie
[ora
.£3,000,000
.£4,000,000
.£3,000,000
KUALA LUMPUR
KECHING
114DAN
MANILA
Agencies and Branches:
ALOR STAR
*(Malay Minion)
AUNTSAR
BANGKOK
BATAVIA
BOMBAY CALCUTTA
CANTON
DAWNFORE
CRAU
COLONDO
BAIBEN (Onl
Fouth Maschurle! DELI!
HAIPHONG
HANKOW
HARDIN
US Manchuria,
NO ONG
11120
Trol
KABACTIE
KLANG
KODE
KVALA RANOBAT
Perak (P...)
MEDAN
NEW YORK
PERING DENANG PESHAWAR
SEMABANO
SINGAPORE BODRAMATA TAIPENIL
(FMB)
TAVOY
TIENCHER.. TORYO
TONGKAT (Olukot)
TSINGTAO
YOKOHAMA
ZAMBICANUA
lippine Calande}
and
General
Foreign Exchange Banking business transacted.
Current Accounts opened and Fix- et Deposita received for 1 year or shorter perioda nt rates which will be quoted an application.
A. H. FERGUSON,
Manager, Hong Kong, 8th January. 1920.
THE CHINA MAIL.
COMMERCE
AND FINANCE.
CENTRAL BANK OF THE REVENUES
CHINA
EXAMINATION OF RESERVE HELD AGAINST NOTE ISSUE
NOTES IN CIRCULATION
ALASKA
TUESDAY, JANUARY 21, 1930.
I. HONG KONG MARKET PRODUCE.
APPROXIMATE RETAIL PRICES.
Jan. 18, June, June,
1930. 1918. 1914.
Butcher Meat.
OF
Beef Sirloin
牛尾巴
28 15.
24
12
Chicken
INDUSTRIES AWAITING PROPER DEVELOPMENT
SEALING PROFITABLE
___
Conditions in the Territory of In accordance with Article 15 of the Charter of the Central Bank of Alaska, suys a Washington despatch China, the "Supervisory Committee of December 30, continue to show vested with the duty of examining prosperity and growth, but there of the bank held are some industries that remain the reserves against its note issue. On January practically untouched awaiting pro- 10, the Committee held its 41st per development, according to the examination at the Issue Depart-report for the last fiscal year, made ment of the Bank and the result to the Department of the Interior by the Governor, Mr. George A. is as follows:
Total amount of notes in circula- Parks. tion:
社
Prime Cut
Corned
Roast
Breast
Soap
Steak
Steak Sirlon
Sausages
Bullock's Braius
Tongue, fresh
Shoulder .....
#$
*2+3+++
+
Cts. Ct. Cls.
Jan. 16, June, June,
Poultry.
# #
ib.
1000. 1918. 1014. Ct. Ct. Ct.
70 30
80
28
GU
28
80 28 11
Capone, Smali
Capons, Large
Eggs, Ren (cooking),.
Eggs, Hen (fresh)
32 29
A each 25
新鮮鵝蛋
per doz. 94
22
19
36 25
14
Pigeons, Canton
+
Holkow
Turkeys, Cock
Turkeys, Hen
Snipe Pheasant
Quail Partridges
Almonds
# 19 00
75 36
55 36
86
24
each 40 80
སདྡྷིཧི རམྨཾ ནསཙྪིཾ མཐ སཾཎམྦྷཊྛི ན
30 28
75
55
11
24
pair 1.70
oach #2
B0
29 12
H
28 24 29
Duck
"
24
20
18
**
Doves
24 20
18
"
28
24 29
"
30 80 $5
Pawls, Canton
P
14
32 28
20
Fowls, Hainan
per set 15-
10
12
Geese
10
Tongue, corned
cách 85
50
60
60
Head
"
$1.20
-$1.20
Heart
A
Ib.
24 18
Rump, Salt
84 20
**
Feet
ench 10
10
16
Kidnoys
4
18 10
Tull
25 20
| | 19 | | | |
J
Liver
4
1
14
Ttipe
18
6
Calves' Head & Feat
set $1.20 $1.00 $1.00
Fruits.
Mutton Chop
排骨
lb.
26
|
N
LAB
28
14
J
Dollar notes .... $20,000,000 Subsidiary coin notes.
8,000,000
at 12 4,000,000
The combined value of the pro-, ducts of Alaska's two principal in-! $ dustries, fishing and mining, show. Pig's Chillings .13,614,000.00ed an increase of about 25 per cent. above that of the previous year.
П
21
D
Saddle
Apples (California)
杏仁b. 金山粹集
00 96
1#
22 24
11
No43
燕山香燕
5 4
Brains
"
Per set a
Feat
12
lb.
15
极 锯 娜
12
each 13
10
Fry
.
15
Lemons, China ...................
Head
#
lb.
10
25
80
20
4,000,000
2,219,000
Total te
Reserves against notes in circula.
Waz
+
Heart Kidneys
cách 15
10
Lemons (American)
金山檸檬 each 15
21
10
Licheen, Dried
*** lb.
25 00
80
+
Liver
30
Orargoa (Canton)
新食品笹
10
25
$ 9,662,057.20
Oranges
Leg
Loin
"
Fat or Lard
#
16
16
T
60
Pezrs (Canton)
#
++
16
21
Peanuts
花 4
18 10 12
**
per act BO
60
Heart
Kidney#
Liver
Persimmons, Large
Ar 插
-
12
"
each 12 8
Plantain
12
**
6 8
*0
26
匯發柚 each 14
12
6
Fish Packs Increase
lb.
26
16
20
Grapes
45
נו
26
20
THE HO HONG BANK, LTD. (Established 1917.)
CAPITAL.
Authorised Issued Pald-up
Reserve
Llabilities
Shareholders
Mutton
H
Veal
D
Sausages
No. 1
+
Fish.
心旌脚楼 肝肚脚骨牌羊肉店肉计心肝骨牌面油脚心腰肝热油油肉股
**
魚魚——魚魚魚
魚
沙角群鷄斑魚白甲花魚蝦魚魚魚魚芒魚和蝦然公魚鮪魚
$ $ €
牛羊仔仔
尾肚 水
-牛乳牛中
*************689~8~*9*88888
DISSERRE-8181221CIES || S-CREKEKE
Bananas (bride's)
Carambola
Coconuts
Punelo, Sam
Walnuts.........
✩ # 15. 18
***
Vegetables, &c.
Bean, Sprout
cach 12
སྒྱུ སྒྱུ ་ ཡུ ཎྜ ཤྩ ཁ ཤྩ } ། | 2 ཡྻཋཤྭ |
lb.
42
10
24
Long
20
18
"
Heat Root...
10
#
Bitter Squash
8
24
32
10
5
H
19 16
+
16 27
#
12
10
12
ST
16
Cane Shoots, bunch..
10
23 20
Cauliflower (Large).. ★AE each 18
85 10 27
(Medium) PRÆCIE
14
42
23 16
(Small) STE
10
20 20
Carrots
Ib.
35 10
Celery, Chinese
....**
10 10
16
Chillles, Dried
辣椒干
20 20
*
84 10 18
Red
*
26
80
Green
#
深花:
85
32 25
28 40
80
10
2
22 18
80
18
24
Garlic ....
18 1 6
8 7
18
16
12 10
#
32 13
**
80
22
8 45
32
21
1
38
20
20
8
34
18 · 2
Mandarin. ##
10
8
12
14
Mushrooms. Fresh Okroek
鮮雞
&
40
20 15
# #
8
8
16
€ 4
20
Shanghai
上海
6
6
36 30
40 36
Parsley Potato, Sweet
F
16 Во 8
5 - 8
10
14
F1
Japanese
日本型
4 8
22
10
American
&
3
**
18
18
32
22 10
Purapkin Radinh
紅街
86
20
ម 10
10
10
82 80
28
28
Rhubarb (Fresh) Shallots Spinach Tomatoes Tarcs ...
*
42
22
28
26
36
18
12
1,20
40
NEDERLANDSCHE HANDEL. MAATSCHAPPIJ, N.V.
INETHERLANDS TRADING 600LT) BANTERS
Eats bilabad 184.
Klang Kong 0055:-11 Queen's Road Central Authored Captial
Mid-Capital
...ulders £60,000,000
£247,600.000† ......................... hullcars 80,000,000- (26.06.067.1 Menare Fund ................... Guliders $6,000,000 (£8,306,258.)
Head Oos-AUSTERDAM”). -Ensues. Ilved Office LATA VIA. BRANCHES ;--Balzeriana Bandow) Bombay,
Calouti, Cheribon, Djambar. Di Jakarta) The Hague'), Jeddah, Kobe, Ecta-Badia, Kaiman, Malan, Fading Palembang
Fassr Fekalongan, Fontianak Hangoda bola hamazan, Baughul (Bumaks, Slugspots, Boerskare (Holo), Tigal. Tika and Walterridas.")
Boarabe,
"These sims have sale dipcall boxes to let London Bankers:stional Frorindal Bank L. Porrspondeuse all over the world
Banking businam of wiary
deption transacked.
P. H. ELDERG
fing Kong, 97th May, 1929.
Manajer
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
96, Boulevard Hausaman, Paris,
Subscribed Capital Frz. 72,000,000.00 Paid-Up Capital...Frs. 68,400,000,00 Reserve Funds ....Fra.102,000,000.00 BRANCHES: Bangkok Hong Kong Quinhon
Saigon Battambang Hue Cantho Mengtze Shanghai
Nam-Dini Singapore
Thanhon Noumea
Canton
Djibouti
Fort Bayard Papeete
Haiphong
Bankow Kazei
Peking
Tientsin
Toprene
Pnom Penh. Vinh Pondicherry Yunnaafu BANKERS:
IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas Credit Industriel et Commercial; fo 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 poration; Guaranty Trust Co. of New York
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO)
HEAD OFFICE:-Taipeh, Formosa, Incorporated by Special Imperial
Charter, 1899,
Central Bank in Porrnona. Bank-Notas lanzad Avarega amount ...Yen. 45,000,000 BRANCHES AND AGENCIES!
YARI Tokyo. Yokohams, Kobe, Gasks. FORMOSA:
Karinko Kasting,
CHINA-anghai, Unnbow. Amor.
bestow, Casio
Setar London, New York,
NAGURA
L'anager
(of the above sum $5,045,436.82 is kept in Shanghai Office, the balance $1,484,470.14 is kept in branches and sub- branches $2,632,760,24 is kept in local banks.) Securitiens roserve
Total
5,703,004.80
-16,365,662.00
According to Article 2 of the
Sucking Pigs, to order
The salmon, herring, shrimp and Suet, Beaf erab packs all showed substantial increases, but the whaling.industry ahowed a decline. However, the latter was largely due to lower prices for whale oll.
That the fishing industry is Barbel ateadily increasing was seen in the Bream
figures of the number of persons: Canton Fresh Water *** employed. The commercial fisheries
employed 31,086 persons last year, Carp an increase of 2,214 over the pre-Catsst ceding year.
Codfish
As evidence that this industry in Crabs
Mekong, Neuto, Bhinchiku, Talahu, Tainan, Bank's regulation governing ita Takao, Tamusul, Tosu, lisilo, Talks, Foto,note issue, the bank is required to OTHER:lieng Kong. Higgame, Booraha, keep cash reserve at 60 per cent. Pasari Boiler, Calou and Securitics Reserve at 40 per LONDON BANSRA
cent. of the total issue. Finding The Loudon County Wartialaster and Farr's Back the cash reserve to exceed the The Bank has Correpetalents in all the pinnecessary 60 per cent. and the tipal Commercial Course throughout word.
securities reserve not over 40 per Alaskan waters la far from reach-Cuttle Fist UNO XONG BRANCH:
cont., the committee certify that ing its peak large schools of Dab Foux Sted Central.
the reserves against notes in cir-herring were discovered in the Daco Hong Kong. 19th January, 1929,
culation is in order. A certificate vicinity of Dutch Harbour, the first Dog Fish to this effect is aigned by Messrs. time that these fish had been pro-
Eels, Conger THE BANK OF CANTON, LTD. Li Mis, chairman of the committee;duced from that locality.
and Messrs. C. L. Wang, Tsuyee Sealing continued to be a pro- Yellow Pei, Z. C. Zing. Yu Ya-ching, K. H.fitable industry in the territory. Lin, and C. M. Shu, supervisors. "The seal industry will contínue to
be a source of revenue and there? la no longer danger of the exter-į mination of the herds as long as
Established 1912. Head Office:-Hong Kong.
$11,000/200 * 8,044.0 800,000
Authorised Capital (B.K Currency) Fald Up Caphia! ............ Ke Pund
EBANQUED Carion, Shanghai, Hankow, Bangkok, Kw York rad Bas Franciaco
LONDON BANKERS --
The Lloyd's Back Limited. CORRESPONDENTE
In all principal villes of the World.
Foreign exchange and banking business of Try description treated.
bate Depot Bansa tramata fra) ni a zelj paulal of From $3 to 119.
LOOK POONG SHAN,
Chief Manager, Hong Kong, 19th February, 1927.
THE BANK OF CHINA, 行銀國啦
(Specially Authorised by Presidential
Mandate of the Republic of China
U.S. CONSTRUCTION $7,000,000,000 to Be Spent on Public Works
Fish #a
Fresh Water
#
+
Frogs
Garoups Gadgoon
Horrings Halibut they are maintained under the supervision of the government," Labrus the report said.
Loach
The last seal conaus was in Lobsters August, 1928, and gave the number Mackerel of seals of all classes and ages as Monk Fish 871,513. In 1911, when the govern- Mullet Washington, Yesterday. Mr. R. P. Lamont, Secretary of ment assumed control of the herds, Oysters Commerce has informed President the number was only about 132,000, Parrot Fish Hoover that he expects public and and the results that have been Perch private construction work in 1930 achieved in building up the herds Pike representing a total expenditure of to more than six times the original Plaice
about $10,000,000,000 of which number in 18 years' time is regard Pomfret, White $7,000,000,000, will be spent on ed as evidence of remarkable suc- public building and maintenance and cess in government supervision of
thisthis unique industry.
record. Reuter's
on the 22nd of November, 1917.) public utility construction,
а constituting .$30,000,000.00 | American Service.
18,278,600.00 9.029,425.24
Authorised Capital Paid-up Capital Reserve Fund
FLEAD OFFICE: PEKING,
HONG KONG BRANCH:
4, Queen's Road Central. Branches and Sub-branches all over
Interest allowed on Current Ac-Chins and Correspondents in Europe, counts and Fixed" "scosits according to arrangements,
Every description of Banking and Exchange Business transacted.
Safe Deposit Boxes to let.
A. LECOT.
Manager
Hong Kong, 1st May, 1929.
America and other parts of the world.
London Bankers:-The National Provincial and Union Bank of Eng. land, Ltd
The Guaranty Trust Company of Now York.
New York Bankers:-The Irving National Bank.
The Equitable Trust Company of New York.
Interest allowed on Current Ac- THE YOKOHAMA SPECIE BANK, counts and Fixed Deposite. Terms on
application. LIMITED.
Every description of Banking Busi- ness transacted.
Loans granted on approved secur Itles:
Established 1880,
Capital (fully paid-up) Yen 100,000,000 | Special facilities for Home Ex- Beserve Fund.......Ton 108,500,000 | change.
Head Office:-YOKOHAMA,
Branches and Agencies ni
Alexandria
Batavia
Bombay.
"Bossos Ayres
Temporarily
close).
Calenta
Changchun
Datron (Dalny)
Nagoya
New York
Newchwang
Osaka
Paking
Rangoon
Rio de Janaira
Saigon
Ban Francisco
Tengtien (Mukden) Seattle
Hamburg
Bankow
Harbin
Hoàng Long Honolulu
Kad/Faen:
Semarang Shanghai Shimonosek! Singapore Bourabaya --Sydney-
3HOU 3. CHEN,
Manager.
KASHMIR
COTTON COMBINE ?
Indian Owners Decide to Amalgamate
Pomfret, Black
Prawns Roy
Rock Fish Roach
Mine Incomes Decrease Approximately $600,000,000 has! Jalmon |been produced from Alaska's mines Shark since 1880. The peak was reached Skate in 1916 with a total of $48,386,508 Shrimpa and since then there has been a Snapper gradual decline. The 1928 Agure Soles was $14,128,000 or $175,000 less Tonch. than the previous year.
Turbot
This decrease is due entirely to Turtles, small, fr, water the decline, both in quantity and Bombay, Yesterday. The owners of a number of value, of the copper production and cotton milla here are considering a it is significant to note that the proposal to amalgamate under a gold production increased material- single control for the purpose ofly in 1928.
eliminating competition between. "The mining industry has been mills producing similar fabrics. It stimulated during the past year by is understood that the Imperial new developments and by assist Bank of India has agreed to assistances given to prospectors, hence it the combine.-Reuter.
is almost certain that the produc- tion from the mines will show an increase Bert." year," Governor Parks.
LAND SALES
Two lots of Crown land were auctioned yesterday at the Crown Land Office. Kowloon Inland Lot No. 2298 situated at 178, Tung Chol Street was sold to Mr. G Guerineau at the upset price of $17,075. The land has an area of about 9,486 sq feet and its annual rental is $108. New Kowloon In- land. Lot No. 1299, with an area of about 5,400 sq. feet was sold to
developed.
U.S. FINANCE
stated
L
#
·魚魚魚魚脚
THE NEW YORK CRASH
ུ ་ སྣ ༢ ན ་ རྨ རྟ ༤ ཧ ༤ རྣ ད རྫུ རྨ ཎྜ རྟ ཋ ཌྷ ཎ ཆ ༤ ལྷ ཆ ཇ ༤'ར ང རྐ ན ཎ ཧེ རྡ རྗ ,
96 84858 * * * * 8 8 3 8 3 * * 8 8 * * *8852÷¬99968*98*8*9 888.
GUARANTY TRUST COMPANY SUGGESTS EXAGGERATION
POST PROFITS QUESTION
125PERNA | * | *888******************ABAR388BA[
Artichokes
Brinjala, Grenn
Red
Cabbage, ChinosS
(Shanghai).
雅芝
Curry Stuff, English.. W Cucumbers
Ginger, Young
Old
Horseradish, Shanghal Indian Corn
Lettuce...
Water Chestnuts.....
Onions. Bombay
Green
"
Turnips, Panti (Long) Vegetable MarTOW
Water Cress
Water Lily Root
26
PeradducKAP2PKOLEBZ250* '*KBOM SREKACCACKSORSRE
$
+
גז
*** | | |** ] ] } ] } * ***
Б
15 10 10
13 8 12
10 8
15
10
B
B
日
46
6
*
6 G
H
-15
Business reactions are caused by as long as it continues its impend- the destruction not of physical ing collapse represents an obstacle wealth, but of dollar values; and that business must surmount before as long as wealth and incomes are safe and orderly progress can be measured in terms of dollars, to resumed. belittle the destruction of suck
Therefore, if the temporary de- values 28 a mers bookkeeping pressing effect of the stock market sleight-of-hand does not diminish readjustment proves not to be its importance.
Bevere-and there is abundant These considerations, however, reason to hope that this will be the apply only to the early future. case-American business may con-
The report particularly
It is probably true that the num- Viewed in the longer perspective, gratulate Itself on having survived marble in Alaska is virtually a the recent price collapse in the structure may be correctly regard- of the greatest speculative move phasized that the quarrying of ber of persons directly affected by the collapse of the inflated price the unusually abrupt termination virgin industry and should prove New York Stock Exchange has been ed as a favourable development ment in financial history without highly profitable when properly exaggerated and also that, to a con- from the point of view of general suffering to so great an extent as
alderable extent, those who were business.
it frequently has under much less holding stocks prior to the braak. This view is based partly on the trying conditions. were the same who had previously prospect of an easier money situa- Conflicting Opinions profited from the rise, so that, in tion, although this aspect of the Amid the mass of confleting many cases, the losses were merely matter has probably been over conditions and opinions arising out "paper. losses," says the Guaranty emphasized.net
of the crisis in the stock market, Trust Company of New York in the *Just as business.during the last it is clearly too early to attempt to
two or three years has not been appraise accurately the Guaranty survey,
Nevertheless, the sudden disap- seriously hampered by the advance sequences or forecast the probable Om Yau Street adjoining New published on Saturday, the third be expected to have its effect on the ensler money will not by itself with banking conditions strong,
psychology and the buying habits create a business revival. Kowloon Inland Lot No. 592 and its paragraph was incompleta. annual rental is 888.
In the review of U. 8. Finance Messrs. Ip Yick and lu Cheuk-nam by the Chairman of Directors, of for $6,400. The upset. price was the National City Bank of New
con-
SILK STORE 36,100. The land fa situated at York, Mr. Charlee E. Mitchell, pearance of even paper profita munt in interest rates, so a period of results; but it is fair to say that,
.fox
EXCLUSIVE STOCKS
of
SILK
GOODS
and
SILK
Keen's Theatre
HEADACHE
· Immediate relief
GENASPRIN
commercial éredits sound, money It should have read as follows, of consumers. It is also true that. When Recovery Occurs ezey; inventories normal, and com the words in italics being omitted the tangible productive wealth of The fafiuence of interest rates on modity prices' stable, the back- In our reportatge damage. the country has not been reduced most branches of business is ground for business recovery from m"Out of these profite, was ap- in the least and that the securities negative rather than positive, either a sharp and short recession plied according to our fixed rula, reluctantly parted with by unfor-When recovery occurs, however, or a mild and long depression la Mr. Mitchell explained, - a con- tunate Investors have inevitably the abundance of funds avaliable stronger than in other panic situa- tingency reserve of U.S.$8,050, been acquired by others.
-at-low rates will be a stimulating flops. --
factor.
Under such
880,
330, dividends of US 13,510,000! But the Dollar Value factories the principal significance of the history does conditione business
tment a balance of U,3.49,- have been destroyed, no Gelds, laid market break to general business long-continued depressions. Ameri- 0,321 was carried to undivided waste, and no natural resources, lies in the fact that it has removed can finance and Industry are at U.S.$5,817,559 dissipated does not mean that the an unsound feature of the situa- least more strongly entrenched to divided pro- outlook, for industry and trade is tion, Aspeculative boom in- meet the problems, presented than
canentially unaffected t
variably ends in the same way, and ever before.