2
BANK S
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorissé Capital
#60,005, onn
lued and Pully Pul3-ap .....................$20,000,000 Baser Pund-
Verling
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1855.
HEAD OFFICE: LONDON,
Paid-up Capital Reserve Fund
THE CHINA MAIL.
THE NO HONG BANK, LTD.
(Established 1917.3
HEAD OFFICE:~SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C.
£3,000,000
Authorised Capital Straits $20,000,000 Issued Capital
8,000,000
$10,000,000
.£4,000,000
Paid-up Capital
.... $20,000,000
Reserva Liability of Pro-
prietors
Reservo Liabilities
.£3,000,000
Agencies and Branches:
of Shareholdera Surplus
f
4,000,000
4,000,000 2,520,000
ALOR STAR
KUALA LUMPUA
(Malay Stat36)
KUCHISO
AMITHAR
MADRAS
MANILA
KEDAN
NEW YORK
PEKINO
PENANG
Soserve Llablity of Proprietore
HEAD DEVICE. WING KONU,
BOARD OF DIRECTORS;~ Plover. Mr. 6, 07, s, Sterile. Chairman.
ton, Mr. J. J. Pateroom. Deputy Chairman,
W. H. Hall, Exp 1. E. Power, Eng.
4. R. Conptate, Eng. J. A. Plymiser, Eaq,
B. Ide vele. Eng. T. . 1. Shaw, Esq.
0. Miskin, Kan.
1. 1. Weron, Eaq.. Chial Manage
V. M. Graybura, En.
TRANCHES:-
LONDON
LYONS
BANGKOK
BATAVIA
BOMBAY
CALCUTTA
CANTON
PAWNSPOJE
COLOMBO
DAIREN (indny
South Manchuria)
DELIN
AMOX
HANGKOK
+HATAVIA
MURDEN
MALAUCA
BOMBAY
MANILA
KALCHITA
MAN (Jahɔra)
CANTON
CHEFOO
MAGASAKI
NEW YORK
DALKEN FOOCHOW
PEIPING
HAIPRONI
HAMRUN IASKOW HATELL
HONGREW
ELL
FOR
RUBORE
KOBE
KOWLOON
MALA
PENANG
RANGODN SAMON
AS FRAMisch
SBANCHIAL
SINGAPORE
SUPRANATA
SUNGEL PATANI
HESINES
TOKYO
R-INAVIAD
YukiASIA
Carmat Accounts opened to bom Curmay Fed Upon end lose t shorter periode at Event Currency sad tering 30 sefine which will be grated an application. Hea on le fobruary, 19AL
HONG KONG SAVINGS BANK.
The use of the shore Bank in conduct. d by the HONG KONG AND SHANGNAT DANKING CORPORATIOS, Hubs my bo obtained 50 appaltation,
FOR THE HONORING AND SHANUMAI BANKING CORPORATIÓN,
V. M. BAYRERS,
Hong Kong, 18th July, 1939.
Chiel Manager.
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
96, Boulevard Haussmann, Paris.
Subscribed Capital Prs. 72,000,000.00 Paid-Up Capital, 68,100,000.00 Reserve Funds.Fra, 102,000,000.00 BRANCHES:
Bangkok
Battambang lue Conthe
Canton
Mengize
Nam-Tinh
Hong Kong Quinhon
Saigon Shanghai Singapore Thanhea Tientsin Fort-Bayard Papeete Haiphong Peking Tourane Hankow Prom-Pooh Vinh
Djibouti
Hanol
Neumea
Pondicherry Yannanfu BANKERS:
IN FRANCE: Comptoir National d'Escomple de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas; Credit Industriel et Commercial; So- ciete Generale.
IN LONDON: The National Provin- rial & Union Bank of England, Ltd.; Comptoir National d'Escompte de Parix; Credit Lyonnais.
IN NEW YORK: J. P. Morgan & Co.; French American Banking Cor- poration: Guaranty Trust Co. of New York.
RAMING
BAIPHONG
BANKOW
HAUBIN
(H. Manchuria)
HÅND KUSO
1840370
PULS
KARACHI
KLANO
KONE
KUALA KAHOBAR
(Peak P.M.B.)
BAIDON
HANGOON
HENABANU SEREMBAN
SHANGHAI
SINGAPORE
SOURABAYA
TAIPING (P.M.B.) TAVOY
TIENT HIN
TORYO
TUNGKAR (Bhuket)
THINGTAO
YOKOHAMA
ZAMBOANGA
(Philippine Inlmadı)
General
Foreign Exchange and Banking business transacted.
Current Accounts opened and Fix- Deposits received for year or shorter periods at rates which wil be quoted on application.
A. H. FERGUSON,
Manager. Hong Kong. 8th January, 1929.
THE NATIONAL CITY BANK
OF NEW YORK.
HEAD OFFICE: $5, Wall Street, New York.
Capital, Surplus and
Undivided Profits..U.S.$224,554,298
Branchen In-
ARGENTINE
BELGIUM
BRAZIL CHILE
CHINA COLOMBIA CUBA
LONDON
MEXICO
PANAMA
PERU
PHILIPPINE
ISLANDS
PORTO RICO
DOMINICAN
STRAITS
REPUBLIC
SETTLEMENTS
URUGUAY
VENEZUELA
INDIA ITALY JAPAN
Commercial and Travellers' Letters of Credit Travellers' Cheques, Bills of Exchange and Cable Transfors Current accounta bought and sold. and Savings Bank accounts opened and Fixed Deposits in local and for- at rates that currencies taken may be ascertained on application to the Bank.
Dign
of
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 also of The National City Bank New York (France), S.A., in Paris and Nice.
F. McD. COURTNEY,
Manager. Kong Hong, 20th February, 1931.
THE
Interest allowed on Current Ac-AMERICAN EXPRESS COMPANY,
counts and Fixed Deposits according
to arrangements.
Every description of Banking and Exchange Business transacted.
Safe Deposit Boxes to let.
A. LECOT,
llong Kong, 1st May, 1923.
INC.
Head Ofee! 65, Broadway, New York.
Capital
Manager.
Surplus
Reserves
THE YOKOHAMA SPECIE BANK,
LIMITED.
.U.S.$6,000,000 .U.S.$1,572,454 .U.S.$1,908,209
BRANCHES:-
VipaveriaD Auswary
ปอนเ
เน็ตม
Цита
Naylon Picou
Pando
Li
Pariv
Fabang
Partite
Lexing
Bombet
Palermo
Rotterda
Üremen
Yen 115,000,000
Brussela
sade se Caire *£minutā
Established 1880.
Capital (fully puid-up) Yen 100,000,000 Reserve Fund
Head lice:--YOKOHAMA.
Branches and Agencies al:
Alexandria
Batavia
Berlin
Bombay
Calcutta Canton
Manila Nagasaki
Nagoya
Newchwang
New York New
Osaka
Gelping
Rangoon
(Dalny)
(Mukden) Rio de Janeiro
Homburg Hankow Hatbin
Kong nolulu
Kui Yuen
.
Karachi
London
Kobe
Los Angeles
Lyons
San Fra
Francisco Seattle Seattle
Semarang Shanghai Shimonneeki
Singapore Soerabaya Sydney
Tientsin Tokyo Tsingtau
Interest allowed on Carrént. Ac- counts.
Deposits received for fixed periods
at rates to be obtained on application.
H. MORI,
Manager. Hong Kong, 11th April, 1981.
THE BANK
CASOM Coiataba Vamissioopla
Cupenhagen Edinburg
Floret
HARTS Juteriaken Jerusalers Lida Loodaa Liramoni Luteras Luges butor
Muellime Monte Carte
Kantia
Munich
Ventress SELAD
Bomoa Fiamboul
Shaoghal Southampton Singapor St. Morits Tiantia
Slar.Da
Velos
Yukata Zurich
Branches of American Express Company in Principal elties of Unit- ed States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
Personal handled
investment
Branches, 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.
{NETLEBLANDS TRADING BUGLETY)
DANKERS.
Barabillabed 1834.
Big Long Ofori-11, Quma's Road Owatoni.
Authorised Captial... Guiller 150,000,000-
(211,800,000,) Pald-Up Cxplial song Guldves 80,037,000 (48,684,178) Leserve Fund
........ Ouliders 0,018,00 (3,204,KR)
kland 08-AMSTERDAMT Eastern lisad O-DATAVIA, ORANCHES – Bendjarmasin, Bandung, Bombay,
Calusia, Charbon, Bumber, Djok jakarta®, The Hegus*, Jeddah, Kobe, Kuta-Radja, Makassar, Medan, Padaug Palembang. Pakalongan. Penang. Popliansk, Bag, Botterdam”, Semarang
Shanghai, Aboign 18umetra), Eskurin (Sala), Tegal, Tjilmap and Weinredes".
• These three have sain deposit boxes to tel Gondon Bankers 1-National Provincial Bank Lid, Correspondents all over the world Banking business of every description transected.
A. STOKEINE,
Acting MaunaEYİ,
Hong Kong, 18th August, 1981.
and
Commerce
Finance
HONG KONG TRADE IN REVIEW
Chamber of Commerce Annual Meeting.
POOR EXCHANGE OUTLOOK.
Objections to New Shipping Taxes.
The Hon. Mr. C. Gordon Mackie, who took the chair at the annual meeting of the Hong Kong General Chamber of Commerce yesterday, in the course of a review of the year's trade, expressed the opinion that low rates of exchange appeared likely to continue. There did not seem ground to believe that the dollar would recover for some time, or that it would recover to the level of former years. The Chairman criticised the new taxes on shipping, which ho considered wrong in principle. Times were very bad for trade, and many companies had only been able to carry on through rigid economies: Nor should shipping companies be asked to bear the cost of anti-piracy protection,
SILVER SLUMP AGAIN!
The Chairman was supported.
Sing hobby the following members of recovering to the level of former the General Committee: Mr. years. I join with Mr. Plummer in T. H. R. Shaw (Vice-Chairman),¡ his speech delivered at the last the Hon. Mr. J. Owen Hughes, annual meeting of the Hong Kong the Hon. Mr. J. J. Paterson,, & Shanghai Banking Corporation.in Messrs. W. H. Bell, V. M. Gray-! welcoming the prospect of restored burn, Paul Lauder, T. E. Pearce, peace in China, which, if it con- M. St. J. Walsh and J. P. tinues, will tend to increase the Warren with: the follow value of silver. ing co-opted members: the Hon. Mr. W. E. L. Shenton and Lt. Comdr. H. S. Squance, R.N., with the Secretary (Mr. M. F. Key).
THE BANK OF CHINA. 行銀國小
Reorganisevi October 26, 1928, under special charter of The National Gov ernment na an
INTERNATIONAL 'EXCHANGE
BANK.
HEAD OFFICE: SHANGHAI,
HONG KONG BRANCH: 4. Queen's Road Central.
CHAIRMAN'S SPEECH.
"
The Chairman said:-The report and Accounts of the Chamber have been in your hands for seme days, Subscribed Capital....$25,000,000.00 and I rise to move their adoption.
In reviewing the events of the .$24,710,200.00 Paid-Up Capital
-$.3.820,503.82 year, the question which has un- Reserve Funds
doubtedly caused the most concern both here and in China is the con- tinued fall in the price of silver and the consequent depreciation in silver currency.
The difficulties under which wa Owing to our numerous branches in labour are no less acute now than China and large connections in the im- when they were examined at some portant commercial centres of the length by the Chairman at the an- world, we are able to extend to our aual meeting of the Chamber in clients special facilities for domestic arch last year. If they are to be and foreign banking and exchanges.
judged entirely by the level of ex- change, they are, in fact, of greater perplexity. The downward trend of silver referred to last year de- Manager.veloped much as was anticipated, and the exchange rate of the dollar which at the end of March, 1930, stood at 1/6, now stands at under one shifting.
and
We also handle the issue of Bonds and other Public Funds of the Chin- ese Governmont both at home abroad.
SHOU J. CHEN,
Hong Kong, 5th March, 1931.
THE BANK OF CANTON, LTD. Established 1912.
Head Office: Hong Kong.
Authorised Capital (II.K. Currency) $11,000,000 Paid-up Capital
8,685,000 Reserve Fund
1,100,000
BRANCHES- Canton, Shanghal, Hankow, Bwalow Bangkok, New York and Sao Paolac
.CORRESPONDENTA
LONDON BANKERS:
The Lloyd's Bank, Limited.
La all pilocipal citim në tha Woeid. Pesign #tohange and backing buslomas ef
description transacted. *Bele Deposit Boxse (various inee) at a yearly
realet of from 0 to $10.
LOOK POONG SHAN,
Chief Manager.
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO.)
HEAD OFFICE:--Taipeh, Formosa. Incorporated by Special Imperial Charter, 1899.
FORMOSA
+
Central Bank in Formore Bank-Notes wased Atariga Kosoval „„„Žaz. 48,000,000 BRANCHES AND AGENCIES: account: JAPAN Tokyo. Yokohama, Kobe, Chaka.
Kagi, Kranto, Keelung, Yakong, Kanto, Balaki, Talu, To Takao, Tamwal, Zoen, Halla, Talle. CHINA-Shanghaliankow, Amay, Fooshow,
Bialow, Danion. OTHERSong Kook Blegipore, Boers, Calusta.
Demaren York Daire.
Homber Lendos,
LONDON BANKERS,
The conclusions of the Currency Committee appointed by the local Government have been made public and, accord in general with the opinion of your Committee on the points submitted. I will refer only to two of the points considered by that Committee.
Import of Foreign Goods. While conditions remain as at present, the import of foreign goods Into China must inevitably be severely handicapped. Unfortunate- ly world depression has simultane- ously checked the demand for Chin-: ese exports so that we, in Hong Kong, who are mainly dependent upon the trade of the great country at our doors, are necessarily pass- ing through a period of depression. Thanks to the re-establishment of
Statistical the
Department of which we are indebted to the Hong Kong Government, we can at least take stock of the position.
For the nine months of 1930 for which statistics are available, it appears that the imports of the Colony, expressed in sterling, were valued at (in round figures) £30 millions as compared with £53 mil- lions in the corresponding period of 1924. The share
United Kingdom fell from seven and a half million to two and three-quarter million pounds. Exporta were valued at £23 millions as compared with £45 millions in the earlier period. It should be mentioned that the foregoing figures can only be taken to convey a general, Idea of the situation, as in certain res- pects the statistics for the two periods are not strictly comparable.
of the
-Increased Value.
Now that the revised Statistical Department has been in existence for more than twelve months, the information accumulated becomes of increased value, and I take this opportunity of emphasising the ap- pen made by my predecessor in thie chair that business firms will see to it that their staffe fill in the forms promptly and intelligently,
so that returns, when totalled at the end of a period, are at least ap- proximately correct and comparable with earlier figures.
Premium on Paper Dollar. The first was the premium on the paper dollar. This was generally condemned as harmful to the trade of the Colony, and although no im- mediately practicable means of abolishing it were apparent, the opinion was expressed that under the prudent policy being pursued by the note-issuing banks, the premium British Trade Promotion. would disappear In time. As a Although business dealings here fact it has now disappeared, and
are international in scope, In a although some of the evils rather British Colony we naturally take frealy attributed to it still remain special interest in the promotion of with us,
we may, I think, now British trade. Your Committee, derive some modified consolation therefore, welcomed
the oppor from the fact that our dollar, tunity of doing all in its power to though it be poor, is at any rate assist the Economic Mission which honest.
recently visited the Far East. The second point considered by Apparently the members realisc the Currency Committer was the that if Lancashire is
to participate ularning influx of silver dollars as tinue
result of the premium on notes. China trade her prices will have to The problem of their ultimate come into line with her competitors. disposal appears now somewhat less That necessity has been pressed from this side very forcibly over a long period.
The Company offers to intonding Travellers the use of its "Travelers Cheques" and Letters of Credit and, in addition, the world-wide services of its thoroughly equipped, Travel De-The London County Wetter and Parr's Bank. Complex, and as it would seem very partment
The Back has Correspondante in all the principal unlikely that further imports will be Commercial Ountese throughout the world.
made, we may hope with more con- fidence that this disturbing factor will be gradually eliminated.
Affiliated with
I. NAGURA.
- Manager.
THE CHASE NATIONAL BANK HONG KONG BRANCH:
The Bodem.
Resources ..Over G$2,500,000,000
C. H. BENSON,
General Manager.
OF EAST ASIA, LTD.
Katablished 1918,
HEAD OFFICE:
10, Des Voeux Road, Central
Capital and Burplan
Total Resourced
HONG KONG
OVER ILS 8,000,000.00 Over HL.$30,000,000.00
Every description of Banking and Exchange business
transected.
· Current and Fizsä Deposit Accounts in local and for-
eign currencies opened for cliente.
·Bavings Account and Bale Depoalt Boxes, Branches and Agencies all over the world.
KAN TONG PO,
Uhler Manager.
Hong Kong, 19th January, 1980.
YOU
Gold Stardard.
to COR- iT the
Other points, principally with re- ference to distribution, have also been raised by the Mission, but it) does not appear desirable to com- The question of this Colony go- ment further on the several recom- ing on a gold standard has been mendations put forward until we much discussed, and your Commit- are in possession of the full report. tee has recorded its opinion that We trust the report of the Mission the change is inadvisable while will lead to definite action on the China remains on a silver standard. | part of all concerned with a view to You will not expect me here to en- enabling British manufactures to!
(Continued on page 7.)
ARE INVITED TO‘INSPECT OUR ter at length into the considerations
STOCK OF
ASIATIC FOREIGN AND COLONIAL
POSTAGE STAMP
IN SETS, SINGLE PACKETS,»
BAGS AND IN APPROVAL. SHEETS.
GRACA & CO.,
Dealers in Postage Stamps, Philatelle Goods, Picture, Postcards, Toy, &c.
10, WINDHAM STREET, P.O. Box No. 620. FONG KONG.
that have influenced that opinion. I will only say that the Chamber welcomes with much satisfaction the Currency Mission, that has re- cently arrived from Home to ex amine the wholä question, following the recommendation of the Cur- rency Committee. The result of its deliberations will be awaited with great Interost, and its members may be assured of the full co-operation of. this Chamber in all matters con- perning which it may be of anaŝist-
ance.
All that can safely be said of the immediate future of exchange Is that a continuance of low rates api pears likely, and that it would seem unwise to build hopes on the dollar
ALEXANDER'S INSTITUT DE BEAUTE
For the best Permanent Finger and Marcel Waves, Hals Catting and Manicure for. Ladies and
Gentlemen...... -' Podder Bldg. at Boor. Room 5. Budget? Tel. 25169,2
Opposite entrance. ILK. Hotel
THURSDAY, APRIL 23, 1931.
THE
HỒNG KONG
PENINSULA HOTEL:
HONG KONG HOTEL; REPULSE BAY HOTEL; PEAK HOTEL
AND
SHANGHAI
ASTOR HOUSE HOTEL; PALACE HOTEL;
HOTELS,
LIMITED
In association with the Grand Hotel des Wagons Lits, Peking.
THE
HARBOUR VIEW PRIVATE HOTEL.
9-12, Chatham Road, Kowloon. Finest Situation on the Peninsula. Large Atry Rooma with Full Benefit of the Cool Sea Breezes. Unequalled Cuisine.
l'hone
Proprietress-Mrs. Gardiner.
Tel. 56734.
MARBLE HALL
Cable Add "Harview."
21. Nathan Rd., Kowloon.
Tel. 67089,
A SELECT PRIVATE HOTEL FURNISHED WITH AN EYE
TO THE COMFORT OF ITS TENANTS.
Overland China Mail.
A WHOLE WEEK'S NEWSPAPERS IN ONE.
Possibly the worst train disaster ever known in the Colony occurred during the week when a local train from Shumchun plunged thirty feet from the rails at a place be tween Taipe and Shatin, where torrential rains had under- mined and washed away the banking. At least eleven deaths, with many injuries, resulted, and agonising scenes were witnessed when rescue parties endeavoured to free the victims, who were trapped in the wreckage. It is re- ported that 13 inches of rain fell in the district in 48 hours. The OVERLAND CHINA MAIL contains a full and graphic account by eye-witnesses of the rescue scenes.
*
Sharp sentences were dealt out at the April Assizes in the case of two Chinese who were caught counterfelting American silver dollars near Shaukiwan, The OVERLAND CHINA MAIL gives a detailed account of the trial.
#
*
*
The annual meeting of the Hong Kong and Shanghai Hotels was notable for an urgent plea by a shareholder that a stabilised currency be adopted in the Colony. Another shareholder urged that the company get rid of their “out- side" holdings, and concentrate entirely upon business in Hong Kong. The OVERLAND CHINA MAIL, which con tains a complete report, also records the Chairman's state- ment as to the increased popularity of the company's buses, together with his outline of possible future activities,
*
*
*
A daring attack by many pirate junks upon the stranded ss. Limchow, at Poshim Pagoda, Hainan Strait, necessitated an urgent call for protection from the salvage tug standing by, À British destroyer was at once despatch- ed to the scene. The pirates had looted and set fire to the abandoned ship, which is thought to have had valuable cargo aboard. The OVERLAND CHINA MAIL carries full details.
*
A gratifying report to shareholders of the Hong Kong Engineering and Construction Company was made at the annual meeting, when it was announced that it was the first time since the company's inception in 1922 that the Trading Account had shown a profit. In spite of increased competition, it was hoped to maintain the improvement. The meeting is reported in the OVERLAND CHINA MAIL.
*
*
#
There is no phase of the life of the Colony or of China that does not receive attention in the OVERLAND CHINA MAIL — the weekly paper that YOU MUST ORDER NOW.
Letters to relatives and friends in】 tia, and Canada testify to the keen other parts of the world frequently pleasure and intarost its wookly fail to be written even by the most arrival brings,
;
ardent correspondents. It it a For your folks at Home to re- kindly thought, therefore, to ensure ceive this sceeldy budget, or to keep that those away from the Colony, yourself posted with affairs during or folks at Home, should have an your absence, all that you have, to unfailing supply of Hong Kong do is to drop a note to the "Over. and Chinese news every week-land China Mail" means of a subscription to the "Overland China Mall”
The word "Overland" is a re- minder of the experience behind the Without any trouble of packing production, it having been publiak. and worrying about the Post Office ad since the early days of the on your part, and at the cost only Colony, to be sent OVERLAND of $4.75 for thres, months, the because there was no Sues Canal, "Overland China Mail" will be and that was the quickest route sent Home for you every week. by which to get mall Home. In catching the mail regularly. I the march of time the "Overland contains the news and special China Mail" has become the most features from the daily "China popular weekly news budget, as is Mall" that make a studied appeal has been compiled fist to mult
with people
any intereat present-day requiremente, as it has somatsoever in Hong Kong, and done all along. What more could many letters from Home, Austra·{be desired f
to
'READY TO - MORROW
Mail via Suez closes at 10.30 a.m., April 25.
and via Siberia at 10 a.m., April 25.
J
SINGLE COPY
25. Cent.
! ་
[Hall on the strests and at the bookstalls or you can send your sabscription to the ollos,--FLE. $12 per sRKEN, DE $19 Including postage abroad. Hall-yourly
or quarterly perfoda pro' rata.)
No. KA, WYNDHAM STREET-PHONE 20022.
*THE OVERLAND CHINA MAIL"