BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorised Capital
enew $54,000,000
lased and Fully Jet up $20,000,0 Beer Punda
Starling......................... £ 6,3×1,000
$10,000,000
Reserve Liability of Penariators 20,000,000
HEAD OFFICE: HONG KONG.
BARD OF DIRECTORS-
Hon. Mr, . . . Muckia, Chatman,
Ton. Mr. J. 3. Paterean,
Truly Chainman.
W. H. 3. P.
T
E. Pearce,
44.
A. H. Compton, Reg. 4. A. Parameer, Enge
2. Lander Lewd, Faq. T. 16. R. Bhow, Eng.
Makin. Eeg.
3 MOT
HANGKOK
BATAVIA
150MBAY
CALCUTTA
CASTOS
CHEFOO
POLJOSETIO DAHEN. FOR!HOW
TAMORO HANRON
FLABIES
HIRLW
BARILO
Tak
JOHONA
hub.
HOW LON
2. P. Warron, E.
Chief Manager.
V. M. Grayburn. Es.
BRANCHES:-
LONICS
LYONA
MALACCA
MANILA
MUAR (lancei
MURDES
SABABAKI
NEW YORK
PEPING
PESANG
HLA NAJEROS
SARGUN
SAS PHANVINGE
STEASUTAT SINGAPORE
BAIA VA SUKOBA PALANI
TENISIN
FOR YO
183NOTAM YOKOHAMA
Lat
Currant ant sporet an Loent Curmu Red Fm namin used the Hum dorter period at Lanent Vstronny and Meting 60 Lt whh will be quoted on application. Bond kung, 2 Febranty, Wit.
HONG KONG SAVINGS BANK.
The Bath se rendues
d by this 1145G KUNG AND SHANGHAL BANKING CORIYIRALIOS,
Oleme applaatina
Rules an
FOR THE INGLONG AND SHAMBHAT BANKING CORPORATION.
T M. GRAYBERS,
Wong Kong With July, 19
Charl Manager
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
96. Boulevard Haussmann, Paris,
Subscribed Capital Frs, 72,000,000.00
Paid-Up Capital Frs. 68,400,000,00
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853.
HEAD OFFICE: LONDON.
Paid-up Capital Reserve Fund
Roservo Liability of Pro-
prietors
THE CHINA MAIL.
THE HO HONG BANK, LTD.
(Established 1917.)
HEAD OFFICE-SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C.
Authorised Capital Straits $20,000,000, £3,000,000 | Issued Capital £4,000,000 Paid-up Capital
.£3,000,000
Reserve Liabilities of Shareholders Surplus
agencies and Branches;
ALDI STAR
[Malay Billsa}
AMRITSAR
BANGKOK BATAVIA DUMBAY
VALCIFITA
CANTON
CAWNPORE
CEBC
COLO
DAINES Dalny
Houth Manek)
NELHI
HAIPHONG
SAMBU
BANKOW
HARDEN
HONO KONG
(N. Manchoris?
BAND
KABACHEL
KLAND
RODE
КНАТА КАКОВАН
(Pora M.8.)
KUALA LUMPIE KUCHING
MADRAS
MANILA
MPPAN
NEW YORK
PELLINO
PESARO RANGOON
SEMABANG
SAIGON
SEREMBAN
SHANGHAI
SERUAPORE
SOUHLATAYA
TAIPING 18.30.8.1
PAYOY
TIEMBIN
TOKYO
TONORAH (humat)
St SG2 AD
YOKOHAMA
ZAMIMANUA
(Philippin Inlandaj
Foreign Exchange ard General Banking business transacted.
Current Accounts opened and Fix- ed Deposits received for 1 year or shorter periods at rates which will be quoted on appliention.
A. 11. FERGUSON,
Manager. Hong Kong. 8th January, 1920.
THE NATIONAL CITY BANK
OF NEW YORK.
HEAD OFFICE: 55. Wall Street, New York.
Capital, Surplus und
Úndivided Profits ..U.S.$221,554,208
Branches in:-
ARGENTINE LONDON
BELGIUM
CHILE
BRAZIL
CHINA
COLOMBIA CUBA
DOMINICAN
REPUBLIC
INDIA ITALY JAPAN
MEXICO
PANAMA
PERU
PHILIPPINE
ISLANDS
PORTO RICO
STRAITS
GRUGUAY
SETTLEMENTS
VENEZUELA
Commercial and Travellers' Letters
Reserve Funds ....Frs. 102,000,000.00 of Credit, Travellers' Cheques, Bills Bangkok Hong Kong Quinhon
BRANCHES:
Battambang Hue
Canthe
Meugtze
Cantor
Nam-Dinh
Djibani
Neumen
Salgan Shanghai Singapore Thanhea Tientsin Tourane
Fort-Bayurd Papeete
Haiphong
Hankow
Hanoi
Peking
Tnum.Penh Vinh Pondicherry Yunnunfu BANKERS:
IN FRANCE: Comptoir National d'Escampte de Paris: Credit Lyonnais: Banque de Paris et des Pays-Bas; Credit Industriel et Commercial; Su- ciete Generale.
IN LONDON: The Nations! Provin- eial & Union Bank of England, Ltd.; Comptai National d'Escompte Paris; Credit Lyonnais.
de
IN NEW YORK: J. P. Morgan & Co.: French American Banking Cor poration; Guaranty Trust Co. of New York.
.
Interest allowed on Current Ac. counts and Fixed Deposits according lo arrangements.
Every description of Banking and Exchange Business transacted. Safe Deposit Boxes to let
A. LECOT,
of Exchange and Gable Transfers bought and sold. Current accounta and Savings Bank accounts opened and Fixed Deposits in locul and for- at ralds that elyn currencies taken
may be ascertained on application to the Bank.
We are also able to offer our Cus- tomers the services of the Branches
of the International Banking Corpora- tion in San Francisco and Spain and alao of The National City Bank of New York (France), S.A., in Paris and Nico.
F. McD. COURTNEY,
Manager. Hong Kong, 20th February, 1931.
THE
AMERICAN EXPRESS COMPANY,
INC.
Head Office: 65, Broadway, New York.
Manager.
Capital Surplus Reserves
Hong Kong, 1st May, 1929.
THE YOKOHAMA SPECIE BANK,
LIMITED.
Established 1880.
Capital (fully paid-up) Yen 100,000,000 Reserve Fund
Yen 115,000,000
Head Ofice:-YOKOHAMA.
Branches and Agencies al:
Alexandria
Batavia
Berlin
Bombay
Caleutta
Canton
Changchun
Manila Nagasaki
Nukoya
Newchwang
New York NOW Osaka Pelping Rangoon Fungtion (Mukden) Rio de Janeiro Hamburg
San Francisco
Seattle
Dairen (Dalny)
Hankow
Harbin
Honolulu
Hong Kong попа
Yuca
Karachi
Kobe
Shimonoseki Singapore Socrabjaya Sydney Tientsin Tokyo Tsingtau Interest allowed on Current Ac- counts.
London
Los Angeles Lyons
Deposits received for fixed periods at rates to be obtained on application.
H. MORI,
Manager,
Hong Kong, 11th April, 1931.
Amsterdam Antwerp
Athens
114
Derlin
Barrita
Bombay Braman Iru Buenos A Cairo Celuita Canno Colombo
Constantieople
tupachagen Edinburgh Flursan UNBATA
.U.S.$0,000.000 .U.S.$1,572,454 .U.S.$1,008,209
BRANCHES:-
Lone
Haples Pire Parle
Сваре Charger Hata Hamburg
Interlabso Jerusalem Lida Londoo Liverpool Luserns
Lupno Lusoe
Monte Carlo
Munich
Stanila
Sontrar Atilam
Fagun Fekig
l'alertun fiot Lerdam
Itorne
Bamboul Shinghs! Heuchampson Hingapore St. Morits Tinuin
VIOLA
Fraide Tekobama Zurich
branches of American Express Company in Principal eltics of Unit- ed States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
Personal investment accounts handled.
The Company offera to intending 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
C. H. BENSON,
General Manager.
THE BANK OF EAST ASIA, LTD.
Established 1918.
HEAD OFFICE:
10, Des Voeux' Road, Central,
Capital and Surplus
Total Resources
HONG KONG
over H. 8,000,000.00
............... over H.330,000,000.00
Every description of Banking and Exchange business transacted.
Current and Fixed Deposit Accounts in local and for- eign currencies opened for clients.
Savings Account and Bafe Deposit Boxes. Branches and Agencies all over the world-
KAN TONG PO,
Chiof Maragoz.
8,000,000
4,000,000
4,000,000
Commerce and Finance.
BIG
OIL DISPUTE JUDGMENT.
2,520,000 Reference to
Branchos, Agencies and Correspon- dents in the principal cities of the world.
Every description of Banking and Exchange business transacted.
TAN ENG HOOL,
Manager.
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
(NETHERLANDS TRADING SOCIETY)
BANKERS
Zaladiebra 1821,
doug Kong Dose:-11, Quwan's Bond Central,
alborked Capital ulaze 160.000.000
(12,500,000.) Pald-Up Capital
Quillers 60,0),000 4426,659.170) Bore Fund
meena Quildə 0.011,000
Bead offer:—AMSTERDAM* Eastern sad Omen :--BATAVIA.
UHANCUES:- Bandarman, Handog". Brebes, Calcutta, Cheribon, Day, Dink inkarta, The Hague. Jeddak, Kābe,
Patink
Weltevreden.
Rollerdin
Hount.
Skoen is hare safe degumit base 10 let. Goodoo Basárne zmNational Profitrial Bank 3. Curramped all uker to world Banking liners of eines description Gransartel."
A. STOKKINE.
Acting Managar,
Hang Kong, 13: Anquet, TAKO,
THE BANK OF CHINA.
1
Millions
Damages."
SIAMESE RICE.
LOWER EXPORTS & DECLINING PRICES.
FRIDAY, APRIL 17, 1931.
MALAYA'S IMPORTS, withdrew from the piece-goods
DEPRESSED MARKET IN
1930.
London, March 17. The following is from the March issue of the Chamber of Commerce Journal:
market. Imports of all important speciality lines in 1980 showed de- creases averaging from 25 to 30 per cent., with the exception of sporting goods, total imports of which were unchanged.
TIN RESTRICTION.
Mr. John Howson's Views.
quota
Owing chiefly to declining values for leading export products, busi- ness conditions and trade in British
Our Correspondent at La Paz re- The unfavourable conditions gen- Malaya were depressed throughout ports that the Bolivian Cabinet is erally prevailing in the market belast year. Exports, which amount-expected to sign the decree law fix- came much worse during the quar-ed to $664,600,000, declined 28 per ing the Mr. Justice Roche, in the King's ter under review, states an official rent. compared with 1929, and im-exporty,
of Bolivia's tin
The says Bench Division recently, gave judg- report on Siamese rice exports for ports at $705,100,000 were 20 per Until it
Times. hay been adopted ment for plaintiffs in an action the the last quarter of 1930. Since
cent. lower.
by the Governments of damages of which, if asscseed, Sir September padi prices have dropped According to the American Trade Malaya,
Bolivia, the Netherlands East the local Commissioner at Singapore, imports Indies, and Patrick Hastings. K.C., said would almost 100 per cent. in
market and it is by no means cer- of munafactured goods declined by regulating the production and ex- Nigeria the plan for "run into millions" of pounds,"
The General Asphalt Company tain that rock-hoitam has yet been about 25 per cent. chiefly from the ports of tin, of course cannot be zaid and the Barber Asphalt Company, reached.
United Kingdom, the Continent and to be effective. Mr. John Howeson, The export of rice from the Port American corporations, sued the
the United States. Sales of Japan, who presided at the meeting of the Anglo-Saxon Petroleum Company, of Hangkok during the last quarter co
however, goods,
increased. London Tin Corporation, pointed to Ltd., of Landenhall Street, London,¦ (September-November) of the pro-Semi-oficial estimates show that one direction in which there can be for damages for breach of contract. sent season
to 194,000 imports of passenger cars declined no doubt that the international have beneficiat re-
of
knibo oilfields.
ment of 1923 under which they were
sued.
amounted
in
COTTON TRADE.
Forcing Weakest Out Of Buriness.
They alleged that the defendants tons, and the total for the full sea- 44 per cent, as compared with re-agreement will had failed to use their powers and sos thus came to 1,034,100 tons, or ceipts of the previous year, while sulte-namely, in the supply influence to accure for the plaintiffs 138,000 tons less than during the imports of trucks decreased by 34 funds for a vigorous programme of from the Colon Development Com- previous season, which itself was a per cent. The United States held research and development. It is pany. Ltd. which owed the defend- poor une.
48 per cent of the passenger car As regards the new
reassuring to learn also that he re- crop. the trade lit three million pounds and was
and 87 per cent. of gards restriction o output a8 taken over by them) 93% per cent.surplus available for export from the truck business, while the share Hot-adja. Stakaart, Medan, Fadara royalty of the crude oil produced į Bangkok during the season, Decem- of the United Kingdom was 31 per the tin industry, and that he thinks temporary means of safeguarding l'alabang, 'skalougan, Роди fron the properties in the Vigas ber 1930-November 1931, is eati- cent, and 18 per cent, respectively. expansion of demand more import- Sabarag Shanghai, Bitola Concession, Venezuela, in the neigh-mated at 1,750,000 tons. To this The used car situation became a
ant. Undoubtedly the industry burakarta folos, legal, Til and hourhand of the famous Lake Mara-amount must be added a carry-over serious problem, as 30 per cent. of would find in an increased consump
from last year's crop
of about the sales of new cars was on a trade- tion--if it could be secured--a more The defendants replied that they 200,000 tone, as well as the amount in hals, and stocks of many dealers satisfactory remedy for its difficul- were to use their influence as far coming down by rail from the were high. An increase the ties than mere curtailment of pro- s legitimately possible, and they Northern and North-Eastern Pro-petrol tax in the Fedorated Malay duction. Whether this plan will
!States caused could not out-vote minorities in sub- vinces,
many taxis to disprove any more successful than the The combined export in December 'continue operation! Prospects are vast majority of restriction schemes sidiary companies. They had car- ried out the obligations of the agree-1930 and January 1931 came to for steady eales of automobiles dur-adopted by other industries remains
about 186,000 tona, and unless the ing the first half of the current to be seen. monthly tutal improves considerably year, with a possible improvement during the coming months, there is in the second half, although the be an unusually large year's business will probably be bound to carry-over at the end of this season, below that of 1930. Importers' The position crented for Siam by stocks of tyres were generally re- bumper crops everywhere and by duced to the level of 1929, and the low prices abroad is undoubtedly outlook indicates a gradual improve- aggravated by the prevailing condi- ment in sales this year. The mar- tions in China and by the Incursion ket during 1930 WAS featured by
Mr. W. H. Catterall, a leading into that market, which keen competition, curtailment of Lancashire cotton spinner, speaking Siam's best customer. credit on the part of importers, at the half-yearly meeting of the in the Federated Butta Spinning Company, Leigh, Malay States, and four price in- said a certain section of the cotton creases of 10 per cent, each.
trade would not attempt to work Imports of textiles last year de- loyally with the majority in the clined 30 per cent. in quantity and matter of undercutting, but were 47 per cent. in value, the decrease determined to get business at any in plain cottons being greatest. The price, and what the end of it all United Kingdom's share
of the
was going to be he had no idea. It textile trade fell from 64 per cent. would be a case of each for himself in 1929 to 28 per cent. last year, and the strongest would die lost. while Japan's trade increased from An important section thought there 21 per cent. to 47 per cent. Japan- were too many spindles in Lanca- a number ese competition was the outstanding ahire and considered feature of the market, which was ought to be forced out. also characterised by failures affect- The world now only wanted 60 or ing about 50 per cent, of the large 70 per cent. of Lancashire's produc- dealers; the steady liquidation of tion and yet mills were trying to European goods at any price, begin- turn out 100 per cent. That meant ning in June; declining local prices; that the buyer had his own way, but decreased demand from up-country even the buyer did not gain any districts and neighbouring markets; ultimate advantage, for he, in his and heavy losses sustained by Euro turn, sacrificed himself to the man pean import firms many of whom overseas.
ernment as an
INTERNATIONAL EXCHANGE
BANK. Subscribed Capital .$25,000,000.00 Paid-Up Capital
decreased sales .$21,710,200.00
Reserve Funds.......$ 3,620,503.82
HEAD OFFICE: SHANGHAI
Sir Patrick Hastings. K.C., Sir Boyd Merriman, K.C., Mr. Lionel Cohen, K.C., and Mr. W. Van Breda appeared for the plaintiffs and Sir John Simon, K.Č., Mr. Wilfred Reorganized October 26, 1928, under Greene, K.G., and Mr. A. Andrewes special chartee of The National Gov-Uthwatt for the Anglo-Saxon Co.
After a conference with Sir John Simon, Sir Patrick Hastings an- of Burma nounced that they had agreed to was once limit the scope of the inquiry. Sir Very little hope can, however, be John Simon thought it would turn held out that prices are likely to ton Clause 3 of the eon improve during the present season.
tract, which provided
that On the contrary, the hardest pinch the defendants should use such may be felt towards the end of the
and influence rights
they acason. aecure possessed to
that the old! During the period under review Colon Company provided the roval- prices of rice of all grades in Singa- Sir John would say that pore declined steadily. Exports to Owing to our numerous branches in ty China and large connections in the im- the clause did not impose on the Singapore amounted to 85,900 tons, portant commercial centres
&# of the Anglo-Saxon Company any obliga-valued
10,025,000 Bakt world, we are able to extend to our tion to give a consideration to the (£365,000). clients special facilities for domestic and foreign banking and exchanges.
We also handle the issue of Bonda and other Public Funds of the Chin- ese Government both at home and abroad.
SHOU J. CHEN,
Hong Kong, 5th March, 1931,
HONG KONG BRANCH: 4. Queen's Road Central,
Manager.
THE BANK OF CANTON, LTD, Established 1912.
Head Office:-Hong Kong.
Author and Capital (H.M. Curren15) $11,000,000 Paid Up Capital
ROEFT Fund-
BRANCHES-
2,600,000 1,100,000
Caston, Bhanghai, Hankow, Swalow,
Colon Company.
Meaning of "Influence.".
An increase in excess of $500,000 is shown in the annual report of Mr. Justice Roche: The word taxes collected in Manitoba during "influence" depends on its content. the calendar year 1930.
The re- Its quantity may not be so import-port, tabled in the Legislature the unt as its quality; it depends on other day, announced taxes collected what is commercial influence. amounting to $4,894,760, which in- Sir John Simon: I'admit that if cludes amusement, gasoline, high- we offered consideration to
the way traffle, incorporations and in- Colbn Company we could get them come taxes. to make the necessary contract.
Sir Patrick added that his case wag now closed. He understood that if the Court said the defen- dants wore bound to carry out their contract and procure the off they could do it.
Mr. Justice Roche said there was
Bangkok, New York and a Franciaon the alternative possibility that the
CORRESPONDENTS
LONDON BANKERU:-
The Lloyd's lank, Lamliad
in a principal cities of the World.
Formig avlangs and banking buloss of story descripślam tranunciež,
Sala Deponis Bacon (various sizes) në a jourly rautal from $5 to $40,
LOOK POONG SHAN,
Chief Manager.
matter could be disposed of by pay- ¦ ment of damages.
Mr. Wilfrid Greene, opening the defendant's case, pointed out that! the issue was whether the defend- ants were under an obligation to secure the royalty to the plaintiffs by paying for it whatever might be a proper consideration to the Colon) Company. It was not auggested
get it without paying.!
THE BANK OF TAIWAN, LTD, they could
(TAIWAN GINKO.)
HLAD OFFICE:-Taipeh, Formsan. lacorporated by Special Imperial Charter, 1899.
If they attempted to use majority voting or the power of directors to divert something from the old Colon to the pockets of the plaintiffs with- out seeing that the Colon got a proper consideration they would be! Bank-Notes and Average sinous Yes. $5,000,000 stopped at once by action by the
BRANCHES AND AGENCIES: JAPAN 1-Tokyo, Yokohama, Robe, Uzska. FORMOSA Ulian,
Central Bank in Formosa.
Gwalow, CanŠOL
Dataran Detaria, Do
London, New Tak." Dairan.
LONDON BANKERS,
Calou
minority shareholders,
The London County Wamintas and Ferr's Bank,per cent. owned
The Bank has Correspondante in all a principal
Commercial Contese throughout the world. L. NAGURA
Manage.
HONG KONG DRANUN:
De Varux Hoad Central, Hong Kong. 19th January, 1929
Was
Kagi. Karenko, Emilog. Mr. Greene argued that "influ- Makcug, Nanto, Mhirohiku, Tacku, Talaan, ente" could not mean "payment." CHINA hanghai, Hankow,
TRA, Tamsul, Town, Helio, Taito,
Amor, Fcebow,The word chosen in this agreement) OTHERS-Hong Kong, Singapore Bourabaya, was chosen to preserve the differ- ence of obligation between the 75 and the 100 per 75 per cent. owned, and the word cent. owned companies. This was
"influence" was employed to avoid the legal implication of payment.
Counsel added that Sir Patrick. failed to make his flesh creep when he talked of damages totalling mil- llona of pounds. The case framed on the, footing that the de- fendants had repudiated the con- tract, but they had never done so.
Mr. Justice Roche, giving judg OURment, sald he had to consider only the construction of the agreement and nothing else at this stage. Large sums of money were involved. He held that the defendants had brollen the agreement; and plaintiffs were entitled to damages, which could be assessed. There would be Judgment for the plaintiffs on both the claim and counter-claim, each side to pay their own'costs.
Leave to appeal was given.
YOU
ARE INVITED TO INSPECT
STOCK OF ASIATIC FOREIGN AND
**COLONIAL POSTAGE STAMP IN SETS, SINGLE PACKETS, BAGS AND IN APPROVAL SHEETS.
GRACA & CO., Dealers in Postage Stamps,. Philatelie Goods, Picture, Postcards, Toys, &c....
10, WYNDHAM STREET, P,O, Box No. 620, HONG KONG
Theodore .Kipp. chairman of the Industrial Development Board af Manitoba, reports that since the inception of the Board, Manitoba's Industrial payroll has been Increas ed from $18,000,000 to $85,000,000.
I may rush from a dinner to a"Talkie" and later on to a dance. But-
I NEVER CHANGE FROM "Gold Flake
WILLS'S
As mild as a sun-kissed day in June-as mellow as a rare old port as sweet as a rich, ripe Honey Dew melon-Gold Flake for mine anywhere, any time, always.
GOLD FLAKE
CIGARETTES
AS GOOD AS GOLD