BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorised Capitai #50,000,000 Issued and Wully Paid-up 20,000,000 Reserve Funda-
Berling
Bil........
£1,200.000, $10,000,000
Kerr Liability of Propriate #20,000,000 HEAD OFFICE, HONG KONG.
Hon. Mr.
BOARD OF DIRECTORS (~-
Hon. Mr. 00. B. Mazkia.
.
Chairman,
Ned. Mr. J. J. Paterson,
Deputy Chairman.
11. Bell, T. E. Pearos, Esj.
A. II. Campion, Fag. 2. A. Plummer, Esq.
1. Kandar Imwis, Paq. T. II. 1. Shaw, Eaq."
-D. Minkin, Reg.
AMOT
JANUKOŁ
BATAVIA
BOMBAY
CALCUTTA
CANTON
CHEFOO
CALONG DAIKEN POOCHOW
J, P. Warren, Eau.
Chief Manager,
V. M. Grazburn, Esq.
HAIPHONG
HAMBUNG HANKOW HARDIN
HONSKEW
ILOILO
IFUN!
JOHGUR
KODE
KOWLOUN
BRANCHES:
KUALA LUMPUR
LONDON
LYONA
MALACOA
MANILA
MUAN (Jnkara)
MURDEN
NEW YORK
PEIPINO
PENANG TZA SGOON SALOON
HAN PHASEIRO,
SEANOHA.
SINGAPORE
SURABAYA
SUNGEI PATAN:
TIENTSIN
TOKYO
TEINUTAD
YOKOJIANA
P
Current Accounts apetud in Local Cursery and, Pined Desculta reaved for one or shorter perioda in Local Currency and Elling which the quote on sppleation.
Hong Kat. With February, 1991.
HONG KONG SAVINGS BANK.
The lines of the whowa Bezik la conduct.
ed by the HONG KONG AND SHANGHAI BANKING CORPORATION, Itulee may be
blained on application.
FOR THE NURONG AND BHANOTIAI BANKING CORPORATION.
V. M. ORAYNURN,
Chief Magers
Tong Kong, 6th July, 1986.
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
96, Boulevard Haussmann, Paris.
Subscribed Capital Frs. 72,000,000.00 Paid-Up CapitalFrs. 68,400,000.00 Reserve Funds ....Frs.102,000,000.00
BRANCHES: Bangkok Hong Kong Quinhon Battambang lue Saigon
Mengize Cantho
Shanghal Nam-Din Singapore
Thanha
Canton
Djibouti Numen
Fort-Bayard Papeete Tientsin
Hankew
Haiphong Peking Tourano
Pnom Penh Vinh Pondichery Yunnanfu BANKERS:
Hanoi
IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas Credit Industriel et Commercial; So- ciete Generate.
IN LONDON: The National Provin- cial & Union Bank of Engiand, Ltd.; Comptoir National d'Escompte de Parik; Credit Lyonnais.
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 Deporita according to arrangements.
Every description of Banking and Exchange Business transacted. Safe Deposit Boxes to let.
A. BONNAUD,
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858.
HEAD OFFICE: LONDON.
Paid-up Capital Reservo Fund
.£3,000,000
£4,000,000
Reserve Liability of Pro-
priotors
.£3,000,000
Agencies and Branches:
ALOR STAN
KUALA LUMPITE
(Malay States)
EUCHING
AMBITBAD
.
DANOXOX
MADEAS
MANILA
MEDAN
DATAVIA JOMBAY CALCUTTA CANTON
CAWNFORE -
VENU
COLCHLO
BAIKEN (Dalny
South Haachuria)
DELHI
NEW YORK
FERING
PERNANO
KANGOON
BAIGON
(N. Manchuria)
TAVOY
TIENTSIN
THE HO HONG BÁNK, LTD.
(Established 1917.)
HEAD OFFICE:-SINGAPORE Hong Kong Branch: 13, Queen's Rd. C. Authorised Capital Straits $20,000,000 Issued Capital...
8,000,000 Paid-up Capital
4,000,000 Reserve Labilities of Shareholders. Surplus ..........
"
"
Fr
4,000,000
THE CHINA MAIL.
FRIDAY, MAY 22, 1931.
FINANCIAL WISDOM
OF THE WEEK.
Industries and Need for
Commerce and
Finance Advertising.
and JOSEPH BYROM & WAGES IN 1914 AND Llanelly District Electric
SONS.
NOW.
Mr. A. H. Beatty, (chairman,
Supply) :-"The tinplate and atcel Industrica oro still in a depressed state, but there are Indications of
2,526,000 Cotton Spinners' Trading] Comparison of Relative more stable conditions. In the coal-
Branches, Agencies and Correspon- dents In the principal cities of the world.
Every description of Hanking and Exchange business transseted.
TAN ENG HOOL,
Manager,
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
(NETHERLANDS TRADING SOCIETY)
Loss.
fifteen
Levels.
com-
fields."
Mr. John Lawson, (chairman, Olympia Pórtland Cement) :-"n An interesting comparison of the our territory, four coment Joseph Byrom and Sons (Droyls-
rates at Ipanies continue to compete for busi- den), cotton spinners and doublera, relative levels of wage
August, 1914 and December, 1930,, nese which two can fill, and the formed in September. 1929, to ac has been made by the British Min consequence is that a good deal of quire the business of Joseph Byrom istry of Labour. The figures are, unremunerative busincas is under. and Sons under a scheme of recon-of course, based on recognised full-taken."
Mr. E. B. Skinner, (Tambira struction, reports a loss of £12,350 time rates. Commenting upon the
reaults, the Ministry says that both Rubber Estates) :-"There has been from trading in the first
the amounts and the corresponding very little decline in rubber produc- months to December 30 lust.
percentages of increase over pre- tion and a very definite increase in Unexpected
war rates show a wide diversity the world's stocks. As long as that and unnecessary price-cutting in the home trade has, among different classes of work position continues the price of rub- states the report, rendered business people. In some cases the increases ber must remain low, and possibly
in full-time weekly rates at the end decline further." unprofitable. Great difficulty was of December, 1930, were equivalent Sir Reginald Brade, (chairman, Products):-"But for the experienced in resuming operations to less than 20 per cent, on the pre- Vine after the mills had been working war rates. On the other hand, they existence of British-made wines, a cases to large part of the public could not were equivalent in some short time for a period of six over 100 per cent, on the pre-war | afford. to drink any wine at all. did not months, and being entirely closed rates. The information at the die- Thus British-made wines A. H. FERGUSON,
shuria, The Hagus, Jai Kebe down for a further six months con-posal of the Department is insufflenter Into competition with Domin Palambang. Pekalongan, Fang sequent on the liquidation of the old cient to enable the average per-ion wines.”
ЯКМАЛАНО
SEHEMUAN
I&ITHONG
BELANOMAT
HAMBURG
BINOANNE
HANKOW
BOURADATA
HARDEN
TAIPING (P.1.8)
HUNG KONG
ILOILO
TOKYO
TONGKAR (Bhakal)
KARACHI
TRENGTAO
KLANG
YOKOHAMA
ZAMBOANGA
KUALA KANGSAR
Philippios Islands)
and
Genera!
IPOR
KOEK
(P.M.,1,)
Foreign Exchange
Banking business transacted.
Current Accounts opened and Fix: Deposits received for 1 year of shorter puriods at rater which wil he quoted on application.
Manager.
hong Kong, 8th January, 1929.
THE NATIONAL CITY BANK
OF NEW YORK.
HEAD OFFICE: 55, Wall Street, New York.
Capital, Surplus and
Undivided Profits..U.S.$224,554,298
Branches in:-
ARGENTINE LONDON
BELGIUM
BRAZIL CHILE CHINA COLOMBIA CUBA
DOMINICAN
REPUBLIC
INDIA ITALY
JAPAN
MEXICO
PANAMA
PERU
PHILIPPINE
ISLANDS
PORTO RICO
STRAITS
SETTLEMENTS URUGUAY VENEZUELA
Jommercial and Travellers' Letters
of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers Current accounts tought and sold. and Savings Bank accounts opened and Fixed Deposits in local and for taken
at rates that eign certained on application te may be 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
BANKERS.
Established 18H
Hap Kong Omos:-1), Queen's Hood Central. Authoriand Capital
Fold-Up Caplia
Repere Fund
Guilders 130,000,000-
(213,800,000.)
Quilders 10,000,00
(0,08,170)
Quilduen 46,024,000 (48,004,188)
Read
AMSTERDAMN. Exciera Dead 0200:-BATAVIA.
BRANCHES Baadjarmasin, Bandana. Bombay,
Caloutta, Charbon, Djambar. Diok
Kota Badia, Makamar, Medan, Padang
Ponilana
Samarang
(Bumaire),
Hangon Botterdam”)
Mr. R. J. Sykes, (president, centage increase for all industries Bbolt company.
and occupations to be calculated Incorporated Practitioners in AJ- Singapore Bourable Bosrakaris (Balo), Tegal, Tiliajap and The fixed assets were acquired exactly, but it is estimated that at vertising):-"If the Press does not Weltevreden*,
from the liquidators at a figure very the end of December, 1930, weekly help the heavy Industries vary much munch below the valuation that was full-time rates of wages, for those except through the medium of its of adult workpeople for editorial columns, it is because the made in 1930 on the basis of a go- classes ing
information 13 concern, and, therefore, no which
available, heavy industries do not help them- allowance for depreciation is made averaged between 70 per cent. and selves much. They do not ad- I in the accounta.
74 per cent. above the level of vertise!"
* This oblon kara safe dupoels botas in lak. London Bankare-National Provincial Bank Ltd. Correspondents mil over the world Banking business of every description transacts).
A. STOKKINE.
Hong Kong, 18th Augun, UK.
MANA.
THE BANK OF CHINA. 行銀國中
ernment as an
INTERNATIONAL EXCHANGE
BANK.
to an item of
Mr. H. T. Robaon, (British Dele- gate, Rome Wheat Conference) :- "The grain trade of the world to probably the most highly organised trade in existence.”
PETROL SYNDICATE.
Good for
Children
and
ROSES
ORANGE SOLIASH
They like it.
August, 1914, as compared with 170 Professor Gilbert Murray:-"The With reference
of Central 9,249 appearing in the balanco- per cent. to 180 per cent, at the end economic difficulties sheet under the heading of pay. of December, 1920, when wages gen-Europe may force Germany Into co ments on account of coiton futures, crally were at their highest level. operation with Russia, leading to
As considerable reductions in the Bolshevisation of Germany." the directors state they have in- variably followed
safe normal weekly working hours were the only policy of covering every sale of yarn made in nearly all industries in 1919 by the purchase of either raw cot- and 1920, the percentage increase in hourly rates of wages, since 1914, futures, and this Reorganised October 26, 1928, underton or cotton
While it special charter of The National Gov-amount represents the fall in the is substantially greater.
is not practieable on the basis of market.
avalable information to make any
quoted securities, and dormant as- The company is automatically
precise calculation, it seems pro-
sets, £31,636, making a total of reimbursed for this outlay as the bable that at the end of December,
£188,797, exclusive of the British Subscribed Capital $25,000,000.00 orders against which these cotton 1930, the average level of hourly Syndicate, besides its properties in amounting to £38,097.
The British Borneo Petroleum Government securities and cash Paid-Up Capital ..$24,710,200.00 | futures were purchased are deliver- rates was between 90 per cent. and Reserve Funda... 9,520,503.92 jed, and a substantial portion of the 100 per cont. above that of August, amount paid has been received since 1914. These figures, it should be the date to which the accounts are noted, relate to the wages of made up. The accounts show similar grades of workpeople at The report for the year ended account, after which there will re- debit balance of £19,371, including both dates. interest and general expenses.
March 31 last, after reviewing main a deficiency of £100,000, which In engineering, labourers' weekly the syndicate's interests, atates that they propose to rectify by a reduc- wages are 84 per cent, higher, and owing to the general market con- ukilled men's wages from 60 per
building wages are 80 per cent. higher for labourers and from 45: per cent. to 50 per cent. for skilled men. A long footnote explains the effect of the extension of the piece
HEAD OFFICE: SHANGHAI
HONG KONG BRANCH:
4, Queen's Road Central.
Owing to our numerous branches in China and large connections in the im-
Borneo, owns a block of shares of Apex (Trinidad) Oilfields, and has interests in Roumanian
companies.
oil
also of The National City Bank of portant commercial centres of the AUSTRALIA ELATED cent. to 52 per cent. higher. Ship. ditions, and particularly the ex- New York (Franco), S.A., and Nico.
in Parlo
F. M.D. COURTNEY,
Manager. Hong Kong, 20th February, 1931,
7
THE
AMERICAN EXPRESS COMPANY, INC.
Head Ofee: 65, Broaûway, New York.
Manager.
Hong Kong, 1st May, 1931.
Capital Surplus Reserves
THE YOKOHAMA SPECIE BANK,
LIMITED.
Established 1880,
Capital (fully paid-up) Yen 100,000,000 Reserve Fund ..Yen 115,000,000
Head Office:-YOKOHAMA.
Branches and Agencies at:
Alexandria
Batavia
Borila
Bamany
Calcutta Canton
Changchun
Manila Nagasaki Nagoya Newchwang
York
Osaka
Feiping Dairen (Dalny) Rangoon Fangtien (Mukden) Rio de Janeiro Hamburg
Hankow
Harbin
Hong Kung
Honolulu Kai Yuen
Karachi
Kobe
London
San Francisco
Seattle Semarang Shanghai Shimonoseki Singapore
Socrabaya Sydney Tientsin Los Angeles
Tokyo Lyons
Tsingtau Interest allowed on Current Ac- counts.
Deposits received for fixed periods at rates to be obtained on application.
.H: MORI,
Manager.
Hong Kong, 11th, April, 1931.
Bistrit
Bombay
.U.S.$6,000,000 .U.S.$1,572.454 .U.9.$1,908,209
BRANCHES:-
Now Haples Pira
[aking
AAs wer
Alkena
Gize you Havana
Hunburg
Paris
Натто
redang
Interlaken
Palermita
23cəzan
Latiha
listardei
Brants
Loudoa
Како
Burday in
Licarpo
Samboul
Cairu Calcutta Charen Colombe
Lucerbe
Thanghai
Lugano Lusor
ushampla
Singapore
Maria
Tintain
Viscos
Venice
Yokohama Zurich
Constantinople Monte Carlo
Copenhagen
Fanburgs
Munich
Mapila
Anotroux
STUAR
Pract Debate
Branchos of American Expross Company in Principul cities of Unit ed States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
Persona! investment handled
accounta
The Company offers to intending || Travallers the use of its "Travilers Cheques" and Letters of Credit and In addition, the world-wide services of its thoroughly equipped, Travel Da- partment
Afiliated 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, HONG FONG
Capital and Burplus
Total Resources
over HS 8,000,000.00 *** $ver. H.$30,000,000.00
* Frary description of Banking and Exchange business transacted.
Current and Flaed Deposit Accounts in local and for eign currencies opened for clienti në kockaded Savings Account and Bafe Deposit Boxes >>
KANTONG PO,
world, we are able to extend to our clients special facilities for domestic and foreign banking and exchanges.
We also handle the issue of Bonds and other Public Funds of the Chin- ese Government both at home and abroad.
SHOU J. CHEN,
Hong Kong, 5th March, 1931.
Manager.
THE BANK OF CANTON, LTD. Established 1912.
Hend Oilers-Hong Kong.
Authorised Capital (H,I. Ourrensy) $11,000,000 Pald-Up Capita
8,085,600 1,100,000
Canton, Shanghai,
Haskov, Swatow, Bangkok, New York and dan Farusiano.
CORRESPONDENTS
LONDON BANKENS —
Tha Lloyd's Bank, Limited
in ali principal cities of the Walk,
For
szobange and banking valve of tury destillen transated.
Bate Depan Barna (variona alzoo) al a poorly rental of from $5 to $45
LOOK POONG `SHAN,
Chief 'Manager.
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO.)
HEAD OFFICE:-Taipeh, Formosa, Incorporated by Special Imperial Charter, 1899.
BRITAIN'S HELPING HAND
OVER DEBT.
་་
rate system of payment in increas-
ing actual earnings in the engineer- Australian business men and ing industry. For unskilled labour bankers are unanimous in their apers in the electricity supply indus preciation of Britain's decision-try (50 towns) the increase was announced by Mr. J. H. Thomas in 109 per cent, but a general reduc the House of Commons last month tion of wages by ad. an hour took
to offer a two years' moratorium effect last January. —Engineering. in the payment of her War Debt Sinking Fund.
This means that the Common- wealth will postpone the next four! half-yearly payments of £814,000
due to us.
Applause greeted the announce- ment of the news at the Graziers' Conference at Sydney, speakers describing the action as a remark- able example of goodwill on the part to help the Australians out of their economic difficulties.
"Britain has again neted magnanimously towarde Australia. It was the best token of goodwill and sympathy that Britain could have given."
Thus the Sydney Morning Herald opens its leading article on the debt settlement.
The paper continues: "That Mr. Callin found himself compelled to ask for a postponement of the in-| Central Bank in Forsto Bank Nelosed Average moon Yes. 45,000,000 stalments on the principal of the
BRANCHES AND AGENCIES.
loan is a matter for regret, but JAPAN 1---Tokyo, Yokohama, Kobe, Oka. FORMOSA 1-Čira,
Asalung Australian appreciation of Great Makong, Neale, Shinchiku, Talsan, Talman, Britain's action is all the deeper onINA-Baoghal, Hanzow,
Takao, Tamoul Town, Haito, Tailo
Amy, Fossbow, that she helped us when so embar
Balow,Ca OTHERS--Long
Blapagos, Bowrabaya, Belacang, Bateria, Horebey,
Ominulle, Landon, New York, Dalean,
LONDON HANEDA,
The London County Wactualiser and Parts Bak The Beak her Correspondante in all the principe Commal Centre Longhours, the world.
L. NAJURA,
Manager.
HONG KONG REAXOHĽ
À, Dan Yonex Boad Control, Hong Kong., 19th January, 1990
YOU ARE INVITED TO INSPECT OUR
STOCK OF
ASIÁTIC FOREIGN AND COLONIAL
POSTAGE
STAMPS
IN SETS, SINGLE PACKETS, BAGS AND IN APPROVAL: SHEETS.
GRACA & CO., Dealers in Postage Stamps, Philatelie Goods, Pistires,?
By Postcards, Toys, de
10, WINDHAN STREET, P.O: Her Na 620, HONG KONG.
rassed herself,
The Fremiere of South Australia, Western Australla, and the" Acting { Primier of Victoria have declared that the next problem to be dealt with is the funding of Australia's Overseas Floating Debt.
Speaking at Adelaide Mr. Lang, Premier of New South Wales, Baid that the arrangement had put new beart into his supporters. It show- ed that Australian Governmenta fought as hard for Australiana: se European Governments fought for their people, Australia would be re- lieved of her interest burden.
A Rejected Proposal.
A message from Canberra stated that the Country Party has rejected the proposal for the formation of a new party, but is resolved to co- operate with other parties in an at- tempt to oust Mr. Scullin,
* It was decided ""that Mr. Page should confer with Mr. Latham, leader of the Opposition, and Mr. Lyons with this object in view.
The Party has issued a statement declaring that Fundby of action on | the fundazamital principles sa which can be the liberty i
treme depression in the ofl industry, it will be necessary to provide for considerable depreciation on certain interests and shareholdings.
1
It is proposed that £25,000 be transferred from profit and loss in reduction of the capital expenditure
tion of the share capital from
in 66. shares.
The authorised
£250,000 in 103. shares to £150,000 capital will afterwards be raised to 250,002 by the creation of 383,840 new shares of 6s, each, which will The directors consider that this be available for future issue. The depreciation should be made good net profit for the year under review now by adjusting the capital ex- amounted to 812,376, compared with penditure account to the revised £28,316. No interim was paid, but valuation of the assets. On a can- in view of the method proposed for servative valuation, the value of the dealing with depreciation, the direc assets comprised in the capital ex- tors now recommend a dividend of penditure account. is as follows: 5 per cent, for the year (against Quoted securities, £107,161; un- 121⁄2 per cent.).
I jump from Bennett to Wells to Walpole, over and over again. But-
#
I NEVER CHANGE FROM Gold Flake
WILLS$
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. anytime, always
GOLD FLAKE
CIGARETTES
AS GOOD
AS GOLD