Page
HONG KONG AND SHANGHAI BANKING CORPORATION.
Aetherland Capital
* 850,000,000
Freund and Fully Paid-up $30,000,00 Bet Funder-
Berling
£8,500,000 $0,500,000
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858.
HEAD OFFICE: LONDON. Paid-up Capital
Reserve Fund
.£3,000,000 ..£4,000,000
Reservo Liability of Pro-
prietors
...£3,000,000
Agencies and Branches:
KUALA LUMPUR
KUCHLING
MADRAS
MANILA
ALOB STAB
[Mulay bini
AURITAN
Moore Liability of Proprietors. $10,000,000 UKAD OFFICE: HONG KONG.
BOARD OF DIRECTONA,
J. A. Plummer, Eag
Chalaman.
Elon. Mr. C. 01. 8. Muckia. Deputy Chairman.
W. IL Ball, Raq. Hon. M. J. Patresca.
▲ E. Compton, Esq. T. F. Pearce, Eaz.
3. Landar Laula, Esq. T. 11. B. Shaw, E64
10. Maklo, Exs.
V. H. Oyburn, Esq.
BRANCHES:--
LONDON
BANGKOK BATAVIA
BOMBAY
CALCUTTA
CANTON
AMOY
BANGKOK
BATAVIA BOMBAT CALCUTTA
CANTON
CHEFOO COLOMBO
DAIREN
POOCHOW
HAIPHONG
BAHBURG BANKOW ILAMBAN HONOKEW
ILOLLO
1 Pol
ΤΟΠΟΣΚ
KODE
KOWLOON
J. F. Warren, Zeq. Chief Wasser.
CAWNPORE CEDU
+
KUALA LUMPUR
LYONS
MALACCA
COLOMBO DAIDEN (Daizy
Heath Manchuria) DELOI
(N. Manchuriaš
ΜΕΣΑΝ
NEW TORK PEKING PENANG
PESHAWAR RANDOON
BATUON
SEMABANG
BEREMBAN
SHANGHAI
SINGAPORE
BOURABAYA
TAIPING (P.3.8)
TAVOY
TIENTAIN
HAIPHONG
SAMBURO
HANKOW
HARBIR
MANILA
HỒNG KÔNG
HOILO
KUAN (phoret
TROE
KARACHI
NAGARAHI
RLANG
TSINGTAO
KDDE
YOKOHAMA
NEW YORK
KUALA KANGSAR
ZAMBOANGA
['era P.M.8.)
(Philippine Tilunda)
and
BOKOEN
PRIPING PESANO BANODON BAKION
SUANGHAI
BAS PRANOISTO
BINDAPORE
"DURADAYA
SUNUEL PATANI TIENTSIN
TOKYO
THIXOTAD YOKOHAMA
Coral Accounts opened in Local CuresT and and Deponit incited for one your De shorter parlos Local Currency and Burling on are which will be quoted on application Bong Kong, 1 Apr, 1980.
HONG KONG SAVINGS BANK.
The Business of the above tank is comfes
ad by the HONG KONG AND SHANGHAI BANKING CORPORATION.
bined co application.
Rulay be
FOR THE HONGKONG AND SHANGHAI
BANKING CORPORAZIOV.
V. M. GRAYBURN.
Hong Kong, 10th July, 1900.
Chat MahaRST.
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
WETHERLANDS TRADING BOCIETY)
DANKERS.
Established IMPLE
Hong Kong Ofori-11, Queen's Bood Cinsel Authorized Capital Guilders 180,000,000- (£1,500,000.) P-Up Capitel
vildars 10,080,000 (£3,000,170)
(23,214,683)
Bar Fucs. Oulideer 40,018.008
Hind M-AUSTEBDAM* Eastern Head U01--BATAVIA.
BRANCHES :---Bodjur, Beadowag, Bombay.
Calouti, Cheribon, Diaber, Djok Jakarta, The Hagie“, Judiak, Kobe, Beta-Radja, Makamer, Hedan, Padang Palombang, Pataloagio, Frong Pontianak, Rangoon, Botserlan
Bbanghai,
Barang
Sibolga (Hingapore, Bourbal Boekacts (Bolot. Tegal, Tillajap and Walia redio".
* Chase offices have sais depoali bozan so let. London Bankers-Mational Provinsial Bank Lad
Comerpondante all over the world
Backlog bulevy of every
Ameripuas irmoaroteć.
A. STOKKINEK.
Koling Manager,
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
$6, Boulevard Haussmans, Pails.
Subscribed Capital .Fra. 72,000,000.00 Pald-Up Capital.Fr. 58,400,000.00 Bawerve Funds Frs.102,000,000.00
BRANCHES:
Hong Kong Quinhon Bangkok
Saigon Battambang Hue
Shangha
Annthe
Mengtze Canion Nam Dinh Singapore Djibouti Neomor Thành
n
Fort-Bayard Papeete
Haiphong
Harkow
Hanoi
Tientsin Peking Tourace Prom-Penh Vinh Pondicherry Yunnanfu DANKERS:
IN FRANCE: Comptoir, National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas; Credit Industriel et Commercial; So- clate Generalu,
IN LONDON: The National Pro- vincial & Union Bank of England, Ltd.; Comptoir National d'Escompte de Paris; Credit Lyonnais,
IN NEW YORK: J. P. Morgia ⋅ &' Co.; French American Banking Cor- poration; Guaranty Trust Co. of New York.
TOKYO
TONGKAH (Ibuket)
ed Deposits received for 1 year or which will shorter periods at rates be quoted on application.
A. H. FERGUSON,
Manager. Hong Kong. 8th January, 1920.
THE HO HONG BANK, LTD.
Authorised
Issued
(Established 1917.)
CAPITAL:
Pald-up
Reserve
Liabilities
of Shareholders Surplus
THE CHINA MAIL.
HONG
P‘and
Commerce
Finance
GOLD FLUCTUATIONS attention to the question of whe-
& THEIR CAUSES.
The League of Nations' Report.
ther the current and prospectivo production of gold on the one hand
and the normal increase in demand Beat Sirloin .... as world production and trade in- crease on the other hand are such
as to make it likely that the general of trend of prices over a series years (and apart from short-term The Interim Report of Gold De-oscillations) will be in an upward Jugation of the Financial Com-
or downward direction. Questions mittee of the League of Nations like the distribution of gold are should be read by everyone who is concerned with the causes of the referred to, but roughly the plan followed has been that of comput- present industrial financial depres-ing the world's stores of monetary sion, says the Morning Post during gold at the present moment and the mail week. We are never disposed
of
of the metal.
on
13
Prime Cat
H
Corned
Roast
"
M
Breast
-
+
++
Soup
Stank
Steak Sirloin Sausages
allock's Braina .....
*
Tongue, fresh..
Head
Heart
TUESDAY, DECEMBER 2, 1930.
KONG MARKET PRODUCE.
APPROXIMATE RETAIL PRICES.
lb.
J
Nov. 28, June, June, 1030. 1918 191 Ct. Ct. Cla
**
Chicken
Poultry.
肥染料
"
1930. 1913. 1914. Cts. Cta. Cta.
80 24 12
Ib. 24 18 14
Capons, Smali
Capons, Large
Doves ...
Eggs, Hen (cooking).... 15
Fowls, Hataan
Pigeons, Canton
- Holbow
Turkeys, Cock Turkeys, Hen
*
-
Snipo...
10 12
Pheasant
Quali Partridges
口味菜
OR 28808 #6612853
28
22
each 25 22
per dos. 84
*
jb.
PA
גן
៩ ធ្នូ នឌន ៩ គឺ ឌឌ ៖ 68 8
18
25
20
28
45
each 98.80
lb.
each 22
pair 1.80
each 23
31
1 | |
៩៩៩ ៨៧ ! នឥឪ | | | | | | |
Nov, 28; June, Juno,
Butcher Meat.
+€ 1.
30 28
11
23 12
Duck
B0
24 22
28
20
18
25
20
18
1
30 24 22
Egre, Hen (freak)
"
44 80
15
Fowls, Canton
36
26
20
per set 18
10
12
Geene
each 65 Бо 60
Tongue, corned
60
17
" $1.00
-- $1,20
Hump, Sali
20 18
11
Feet
each
10 10
12
"
Kidneys
15
»
Tall
牛
25
20 22
tr
Liver
ib.
24 18
14
Tripe
Fr
10 #
ན
Fruits.
set $1.20 #1.00 $1.00
羊排
16. 86 28
34
26
Almenda
香
Ib.
90
35
34
24
Apples (California)
金山鄰業: 24 24
1
36
Bananas (brido's)
28
27
Carambola
Per set 8
燕山香蕉 褐
7
镨
»
—
12
14
15
Coconats
10
10
15 18
Lemons, China
10 26
90
18 20
#
each 16 10 10
Lemona (American) .: ili each 12
8
14
10
4
Lichees, Dried
## lb.
05
25
30
lb. 48
30
24
34 25
Oranges (Canton) 新食品推
14
wwwww
IF
Oranges
樱
18
I
36
60 41
70
M
32 21
Pears (Canton) ................
Peanuts
沙
18
+
花 #
14 10 12
D
per set 85
60
70
Persimmons, Large
枯
12
12
each 12 B
7
Plantain
15 12
10
*
* ᏧᎢ .
5
8
#
4 24 25
Pumelo, Siam ....
H
還屦柏 each 18
12 4
ib. 25 26 22
Walnuts....
# lb.
18
16
80
20 18
#
Grapes
50
Calves' Head & Foet Katton Chop
A
Leg
Shoulder
H
Saddle
M
Pig's Chitlings
Braina
11
H
Fort
2
Fry
H
Head
Heart
#
#
Kidneys Liver
Les
to over-emphasise academic or aba- prospect of expansion or contrac- Foreign Exchange General tract influences when more easily tion to the anticipated normal ex-
pansion in liabilities. сливен Banking business transneted.
Gold Production Declining. Current Accounts opened and Fix-discernible influences and
can be dealt with, and readers know
are the statistics So completo well enough the emphasia which is lald in these columns, possibly to nowadays with regard to gold pro- the point of wearisomeness, upon duction that it has been found pos- such matters, as economy
in ex-sible to make pretty close estimates penditure, efficiency in Industry. of gold production during the next For the current year ten years. and so forth,
Nevertheless, it is also true that the high output of £40,000,000 is there are world-wide factors and in- anticipated, and after a slight dip be taken in next year the high water mark Buences which have to into consideration, and among them of £410,000,000 is looked for in the From that point on! none, perhaps, is more important years 1983.
a steady and .Straits $20,000,000 than the question of the sup- wards, however,
8,000,000
plica
gold,
which serious decline is expected, until In 4,000,000
of 1940 the world's output of gold will the world's superstructure 4,000,000 credit le so largely based and also probably have fallen to £370,000,- 2,526,000 the distribution of what may be 000, and unless there should be
described as the "monetary" stores further important gold discoveries, Pork Chop
For many years the the decline in the years following supply of gold from South Africa will be even more serious.
At frat sight the fall from £404,- and other parts of the world was
to 5370,000,000 so constant that previous to the 000,000 this year War the output of gold kept pace in 1940 in the world's gold produc- tion might net appear to be very with the expansion of credit.
During and since the War, how- serious, but it must be remembered ever, there has been such an ex- that in the meantime, by reason of sucking Pigs, to order pansion of credit and redistribution the normal 2 to 3 per cent. expan-Suet, Beef AMERICAN EXPRESS COMPANY, of the gold supplies at various sion in the world's financial and
trade activities a corresponding In-veal monetary centres as to involve a strain on the situation sufficient to crease in gold production is re- affect world prices. The fall inquired if there is to be stability in commodity pricca has been so pro- price levels, longed and so pronounced as to de- press trade in all parts of the world. Finally, and by way rendering the problem more acute, those who are experts on the sub- ject of gold production have warn- ed us for some years past that gold production will shortly decline to an extent which may seriously affect the situation.
world.
HEAD OFFICE: SINGAPORE. Branches, Agencies and Correspon- dents in the principal cities of the Every description of Banking and Exchange business transacted.
TAN ENG HOOL,
Manager,
THE
INC.
Head Office: 65, Broadway,
New York."
Capital Surplus Reserves
Dale
.U.S.$0,000,000 .U.S.$1,572,454 .U.S.$1,908,209
Amsterdam Antwerp
BRANCHES--
Dance Glasgow
Albans
Beelin
Blartin
Bombay
Breed
Hamburg
Teme Interlaken Jerusalem Li
Brysle
Boston Air Calro Caloutte
Teaserna Lugano
Can
Calamba
Dopagen
Edisburs
Loodca
Liverpool
Lalor
Kara:lion
Continople Monte Carlo
Foro GADATA
Manila
Munich
Mootor
Mila
Nos Haplo Pirsus Parla Гепалд J'oking Palaro Botterdam HAZ Stamboul Shanghai Beuthampton Bingapore H. Morits
Tientals
Vienas
་
Vezice Yankama Zurich
Branches of American Express Company in Principal elties of Unit ed States of America and Canada.
of
The
» Loin
Fat or Lard
Sheep's Hoad & Feet
15
Heart Kidneys Liver
Barbel
Bream
Mattos
********ES$BEEBB****&ESüet
#
Sausages
No. 1
Fish.
#
K1
J
Thus In a series of useful and very clear tables, it is shown that on the basis, say, of central banks keeping a 83 per cent. cover of gold over notes and sight liabilities and Also од the Canton Fresh Water basis of such liabilities creasing
in-
at the rate of Carp per cent. per annum, the deficit of Catbel the amount of new monetary goll CodBab available would in 1940 have fallen Crabs
to about £34,000,000, or if the Cuttle Fish expansion in liabilities had been at Dab the rate of 8 per cent, per annum, Dace the shortage would be £170,000,000. Dog Flab
Given
a larger percentage of Eels, Conger cover for notes and Habilities and the shortage would of course, be much greator. In fact, on the Froga basis of a 40 per cent. cover, and Garoupa credit expansion on the basis of S Gorgeou
An Important Report. The Financial Committee of the League of Nations, therefore, was justified in appointing at the end. of 1928 a special delegation "to examine into and report upon the in the of fluctuations causes
of power
gold purchasing and their effect
the on economic life of the nations." All classes of Commercial Banking committee was composed of well- known economic experts, and we accounts think they can be congratulated It deals upon the Interim Report. with a somewhat complicated sub- | ject in a clear, and simple manner.
Very wisely the committee in this Interim Report has confined Its
Transactions undertaken.
གཞན་ད་ Personal investment
handled.
The Company offers to intanding Travellers the use of its "Travelers Cheques" and Letters of Credit and, in addition, the world-wide services of its thoroughly equipped, Travel De- partment.
Affiliated with
THE CHASE NATIONAL BANK Resources ..Over G$2,500,000,000
E. W. DUGGAN,
Manager.
THE BANK OF CHINA. 行銀國中
Reorganised October 28, 1928, under
special charter of The National Gov- Interest allowed on Current Ac-ernment as an
counts and Fixed Deposite according INTERNATIONAL EXCHANGE to arrangements.
.BANK.
Every description of Banking and Subscribed Capital...$25,000,000.00 Exchange Business transacted.
Safe Deposit Boxes to let
A. LECOT.
Manager.
Bong Kong, 1st May, 1929.
THE YOKOHAMA SPECIE BANK, LIMITED.
Established 1880. Capital (fully paid-up) Yen 100,000,000 Reserve Fund
Yon 113,600,000 Head Office:-YOKOHAMA. Branches and Agencies atr Alexandria
Nagoya Newchwang
Batavia Bombay
Βασείου Aires
(Temporarily
closed). Valentia
Capton
Changchun
Dairen (Dalny)
New York Oraka
Peking
Rangoon
Rio de Janeiro
Fanglien (Mukden) Seattle
Hamburg
Hankow
Barbin
Hong Kong Honolulu
Kai Yuer
Karschl
Kobe
London
Pald-Up Capital.....$24,710,200.00
THE BANK OF CANTON, LID.
Established 1912.
Head Offer:Hong Kong,
Authorised Capital (II.K. Cornwary) $11,000,000 Pald-Up Capital
8.065,600 Barré Pandemummanivarttırmam
7,000,000 BRANCHES 1- Canton, Bhanghai, Haskow, Bwalow, Bangkok, New York and Ban Francisco,
CORRESPONDENTE
LONDON BANKERS-
The Lloyd's Dank, Limited.
In all principal cillas of the WorlL Foreign change and banklar busiere of arty description iransacted,
Saia Dapods Boxes (various alzen) as a postly rental rum 11 to $10.
LOOK POONG SHAN,
Chief Manager. Hong Kong, 14th May, 1880,
THE BANK OF TAIWAN, LTD. (TAIWAN GINKO.)
Reserve Funda ..$ 3,820,603.82 | HEAD OFFICE:-Talpob, Formosa
Incorporated by Speelal Imperial Charter, 1899.
HEAD OFFICE: SHANGHAL'
HONG KONG DRANCH:
Central Bank in Formosa,
BRANGUES AND AGENDIES: FATAN |--Tokyo, Yokohama, Koba, Ceala
Bank-Nolos fessed area, 10.000,00
PORMOSA Keg. Karanto, Keslong,
Malang, Nanto, Biochiku, Taichu, Tales Teken, Tamal, Town, Telto, To. OILINA ----Shanghai... Hankow,
Swatow, Catan OTEK118-ang Bong. Blogspory, Bo
Foschow,
1. Queen's Road Central. Owing to our numerous branches in China and large connections in the important commercial centras of tho world, we are able to extend to our clients special facilities for domestic and foreign banking' and exchanges.
We also handle the losue of. Bonds The London County Winter and Parr's Bank and other Public Funds of the Chin- eae Government both at home and Commersal Centres throughout the world."
The Bank has Cornerodents in all the principal abroad..
Basuring. ・Baterie
Bombay Calenta
London, New York, Duizen
LONDON BANKERS
NAGURA
SHOU J. CHEN,
* Manager, Hong-Kong, 6th March, 1930.
Manager
ROKO LONG BRANOU:
Den Vaux Bond Central," Bong Kong, 19th January, 1922,
THE BANK OF EAST ASIA, LTD.
Saigon
San Francisco
Semarang
Bhanghal
Shimonenek
Capital and Surplus
Bingapore Soerabaya Bydney
Tiantain Tokyo
Hong Kong 10th Ber ber," 1980"
Established 1918. ^.
HEAD OFFICE:
10, Des Voeux Road, Central.
Total Resources
. TONG FONG.
over H.$ 8,000,000.00 over, H.$80,000,000.00 Every description of Banking and Exchange business transacted,
Carrost and Fixed Deposit Accounts in local and for
currencies opened for clients,
unt and Aafe Deposit Boxes.
All over the world
ANTONG PO
Fish
w
Fresh Water Yellow
per cent. per annum, the deficit in Herring 1940 would; it is reckoned, be about Halibut £238,000,000.
Remedial Measures.
Labrus Leach
In view of this anticipated short-Lobstars age of gold in the near future, the Mackerel Gold Delegation make certain de-afonk Fisb anite recommendations. The chief Mallet of these is that it might be feasible Oygiers
and even advisable that there Parrot Fish' should be a general lowering by all|Parch the Central Banks of the percent Pike age proportion of gold cover
for Plaice
liabilities, though, very properly, Pomfret, White they add that, were a single coun- Pomfret, Black try to act alone it might in cer: Prawns tain cases, weaken confidence in its Bay
currency. Therefore, before such Rock Fish actor, could be taken it is suggested | Roach that an international understanding | Jaimon
Shark should previously be reached.
It is maintained that if the Gov-Skate
ernments of a dozen more countries Shrimpa
In which the largest gold reserves Snapper
sre held adopted an agreed policy, Solen
I others would be sure to follow their Tench
example. On this basis of recomTurbot
mendation those countries whose Turtles, small, Zr, water
4
legislation prescribes not minimum legal cover ratio, but $
魚魚——魚魚魚
魚魚魚魚脚
$ # B
牛羊仔杼
尾肚 水 低 康沙藍斑魚白甲花魚蝦魚魚魚魚魚和蝦焄公魚鮪魚 黄钫 海菜黃田石白將賓為外在芒裤鈡知业花班白帶咧石街诺沙鰕立尤左 *#
33
И
18
FL
+
7
.
83
80 26 26
22 20 20
28 $2
16 24
20 18
ឌ ឌ គឺ ន ឆ ៩ ៖ ឌឌ ៖ 5 គឺ ឥ B 2 ≥ ឥ ឥ ឆ ឆ ន ធូ ភ ត រ វ ឌ គឺ ៖ ៖ ជូ គ ទ É ឌឌ ៖ គ គ ផ គ ន ដ៏ឧន្ធ 1222232822°;~~*~*~*~*~*~*~**⠀⠀-~¤~¤~A¤qda??
............... $5 each 18
## lb.
#
1244each_12.
Vegetables, &c.
Artichokes
Beans, Sprout
Long
Beet Root
Bitter Squash.
Brinjala, Green
Red
H
Cabbage, Chinesa
(Shanghai)
Cane Shoots, bunch.
Cauliflower (Large)
Carrots
(Medium) RIE
Calory, Chinese
(Small)
St
红辣
#
RE
Curry Stuff, English....
竹杰争蜓瓜瓜瓜菜菜笋花泥桃笋茶干椒椒料瓜园西路 米桑路酒藏·四天菜薯仔 瓜盱萊頭茄梅菜 第 ***
10
27
9
17
26
27
16
24 10
8
Chillies, Dried
.10
8
Red
30
Green
25
30
Cucumbers
24. 22 18
Garlic
23
Ginger, Young
15
Old
П
18
+24
Horseradish, Shanghal Indian Corn
21
Lettuce
20
Water Chestnuts
2
Mandarin.
2
9
16
Onlans. Bombay
# #
9
Green
20
上海
80
45
Parsley Potato. Sweet
---14
14
金山
18
Pumpkin
28 22
10
Radish .....
紅纇
80
--Rhubarb (Fresh)
10
Shallots
干巴
10
Spinach
80
Tomstoes
28
ΤΑΓΩΝ
28
"
+
26 28
85
12
#3
» 1.00
J
"
Mushrooms, Fresh Okroes
Shanghal
Заралева
American
Turnips, Punti (Long)
Vegetable Marrow
Water CreE
Water Lily Book
#
1 | 1988 | |
16
lb. 5
#7
20
W
8
8
#
17
8
14
12
1
8
Fr
ench 25
20
I
18
8
3
10
10
2G
25
5
20 10 10
#
16
B
12
10
B
8 $
10. 0
$
20
15 10
45 8 4
B 46.
0 1
8
19
8
10
8 8 8
0
ச 0
65
8
5 8
•
7 3
4
$
B
8
8
10 4
6 7
B 4
8
15
#
4 15
New Kowloon Inland Lot No. maximum limit to fiduciary cir affected by a shortage of gold, and increasingly dominating Japanese culation would presumably fall into the passing of time has undoubted. | mille.
2,410, West Kowloon Inland Lot, alteration of the line by an
These mills, according to Mr. 2,212, Portland Street with an area ly indicated that the warninga were maximum Úduciary issue allowed justified:
Moser, have developed efficloney of approximately 15,050 aquare Some economics of gold, it is aug
upon a basis unequalled anywhere feet, fetched, $51,000, the purchas-- Without in any way taking ex- gested, could also be effected by ception to the chief remedy put else in the world, and which is era belag Messrs. Wong Ping-wal extending the use of cheques, while forward by the Committee, namely, extending their output not only into and Yeung Tuen-po. The upset
further auggestion is thrown oula possible reduction in the legal the Asian and African flelds but price was $30,100.
Mr. Chung Chung-aban was the as to the desirability of replacing requirements of gold cover, etc. for into Great Britain itself."
Mr. Moser's only suggestion on purchaser of New Kowloon Inland notes of small denominations by liabilities, it is impossible to forget
manu-Lot No. 1,425, situated at Nan subsidiary coin.
that on some of the countries at the behalf of Western textile Finally; the Committee draw at
time, and notably in facturers is that the Occidental Chang Street between Un Chau present
thefr own Street and Fuk Wing Street. The tention to the consequences which France, the fact that the total of countries establish they consider might result from: the gold is already greatly in excess of Oriental cotton mills, using local property was knocked down for conversion of existing foreign legal requirements does not pro labour but reserving the manage $27,000, the upset price being naset reserves into gold on any con- vent the accumulation of the metal ment in the hands of Western $12,988.. siderable scale, and they "urge all at that centre continuing, and whe-trained personnel. countries now employing the gold ther the cause is to be found in exchange standard to give Beribusa policy," or in a defective monet consideration to this matter." They ary and banking system, the fact of also express the view that it would the accumulation and its effect in do much to establish complete con- emphasising the general shortage Adence if, following on a policy of gold is unquestioned." reserves of foreign assets being as
a rale concentrated in Central Banks, an international under standing were to be reached that the reserves which countries hold abroad for the maintenance of their currency should not be sub ject to seizure or confiscation, in times of water
Present Policy of Hoarding
JAPANESE MILLS.
AMERICAN OFFICIAL ON THEIR “UNEQUALLED EFFICIENCY.” Washington, Oct 7.
He advised caution, however, in view of the political status of cer tain of the countries of the Far East at the present perfad.
FOR SALE
CROWN LAND: SALES.
Ines of industrial development by Stanley Gibbon's Part 1.
Yvert Et Teller's Scott's
Various countries require wide POSTAGE STAMP CATALOGUES technical investigation along a
FOR 1931. number of lines, in Mr. Moser's opinion, before It can be considered feasible to proceed on any broad
Each
$5.25
.1
II. ..$8.00
.$5.00
$6.00
Westerners.
New Kowloon Inland Lot No.
It is only due to the members of Mr. Charles Moser, of the U.S.1,423, which is situated at the junc the Gold, Delegation Committee to Department of Commerce to-day tion of Tai Po Read and Fuk Wa regember that some of its-men published a survey of textile condi- Street, was sold to Mr. Chu Bun- bera bave for some few years past tions in the course of which hawing for $21,000. The property strong viewsEAS the forecast that certain western ex-basarlaren of approximately to which the economic, ports eastward will continue to de 8,060 square feet, the upset price
dine, especially in the face of the being $12,090.
GRACA & CO.,
Dealers in Postage Stamps, Philatelie Accissories, Religious.
Goods, Garden Eaods, Toys,
·otc, etc.)
No. 10, WYNDHAM STREET, 10. Biz Noy 620,- HONG KONG,”