BANK S
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorised Unpllal sammensumoni 40,000,000 Inewed and Fails Paldes i 110,808,106 Rare Funde
..................☎ 6,000,000 SUZ...........$10,000,000
Bonerre Liefly of Proprietors ... $30,000,000
HEAD OFFICE HONG KONG..
BOARD OF DIRECTORS ;-- Bos. Mr. D. B. Miskia,
Chairman
Bao. Mr. J. Palareon. Deputy ChairmNG.
Bon. Mr. F. EL Bull, T. E. Pearce, Kay.
A. EL Compton, Eeq. J. A. Plummer, Bag."
B. Lander Lawli, Esq. 7. H. E. 'Shaw,' Eaq.
.G. Mlakia, Bag...
AMOT
BANGKOR
BATAVIA
BOMBAY
CALOUTTA
CASTON OHEJOO COLOMBO
DURAN VOOOLLOW
Η ΕΤΑΙΡΕΙΑΝΟ
RAMBUR
MANKOW HABBIN
J. P. Wartsu, T.
Ohh! Manager.
V. M. myburn, Kag.
MORDNEW-
ILOILO
IPOH
JOUOBK
XODE
ZOWLOON
BRANCHED:
KUALA LUMPUS
LONDON
LYONS
TALOGE
MANILA
MUAR (Johor)
MORDEX
NEW YORK
PEIPINO
TENANG
BANGDON
BAIGON
BAN FRANÇIBO
-SHANGHAI
SINGAPORE
BOTIKABATA
*BUNGHI PATANI
› TIENTSIN
TOKYO
TSIKOTIO YOKOHAMA
Current Amounts opened in Lanal-Quran'ny- and Fixed Deposita received for one yake, OF shorter perioda in Local Curtenay and Harling 02 m which will be quoted on application. Hong Kong, 28th February, 1991.
HONG KONG SAVINGS BANK.
The Basics of the eburn Bank la saadunt. ed by the HONG KONG AND SHANOITAI BANKIND CORPORATION,
Bules may be
obtained on RONG AND CHANDAL
PON THE BANKING CORPORATION.
V. M. DRAYBURN,
Cilat Manager,
"Hong Kong, 18th July, 1000.
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
96, Boulevard Haussmann, Paris,
Subscribed Capital Frs. 72,000,000.00 Pald-Up Capital...Frs. 08,400,000,00 Baserve Funds ....Frs.102,000,000.00
Cantor
Djibouti
BRANCHES: Bangkok Hong Kong Quinhon
Saigon Battambang lue
Shanghai Giao Lenghto
Nam Dinh Singapore
Thanho Tientsin Tourano Peking Pnor-Penh Vinh Pondichery Yunnanta BANKERS:
Numea Fort-Bayard Fapeete Haiphong
Hankow
Tanol
THE CHARTERED BANK OF INDIA, AUSTRALIA & 'CHINA. Incorporated by Royal Charter, 1553.
THE CHINA MAIL.
THE HO HONG BANK, LTD,
(Established 1917)
HEAD OFFICE:SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C. $3,000,000 Authorized Capital Straits $20,000,000 $4,000,000 Issued Capital
Paid-up Capital
HEAD OFFICE: LONDON.
Paid-up Capital Reserve Fund
Reserve Liability of Pro-
pristore
ALOB STAR
АМИНТВАН
£3,000,000 ₫ Reserve Labilities
Agencies and, Branchen:
· KUALA LUMPUR KUCHING.
KADEAS
MANILA
MEDAN
NOW TOOK
BANGKOK BATAVIA,
BONDAY
BALOUITA
CARTON CAWNPORE GELU COLOMBO DAIREN (Dalaj
outh Manchuria)
DELHI
HAIPHONG BAMBURG
HANKOW
ARBIN
[H. Manours)
E0HD KONG
ILOILO
• IPOI
KARACHI
KLANO
KOBE
KUALA KANGSAR.
(Park P.M.5.)
PEKING
PENANG BANGOOX
BASOON SENARANO DEREKBAN
GIANGTỈ
BINO ATOBE
SITIAWAN
BOUNARATA
TAIPING (P.M.B)
TAVOY
TIENTSIK
TOKTO
THINGTAO
TONGKAH (Phuket)
YOKOHAMA
ZAMBOANGA
(Philippine Islands)
Foreign Exchange and Banking bustness transacted.
General
Current Accounts opened and Fix- ed Deposits recolved for 1 year or shorter periods at rates which will be quoted on application.
J. STUART,
Acting Manager.
Hong Kong, 28th May, 1931.
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
BELGIUM
BRAZIL
CHILE
LONDON
MEXICO
PANAMA
PERU
CHINA
PHILIPPINE
COLOMBIA
CUBA
DOMINICAN
ISLANDS
PORTO RICO
STRAITS
REPUBLIC SETTLEMENTS
INDIA ITALY JAPAN
URUGUAY VENEZUELA
Commercial and Travellars' Lettors of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers bought and sold. Current accounts and Savings Bank accounts opened and Fixed Deposits in local and fox- eign currencies taken at rates that may be ascertained on application to the Bank.
We are also able to offer our Cus-
of Shareholdern Surplus
8,000,000
4,000,000
2,000,000
INDUSTRY IN AMERICA.
Commerce and Finance
2,626,600 Reduction of Production
And Selling Costs.
Branches, Agencies and Correspon dents in the principal cities of" the world.
Every description of Banking and Exchange busiñass transacted.
TAN ENG HOOL
Manager.
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V..
(HRTITERIANDE TRADING SOCIETY) BANKERS
!
Realished 1874.
Hong Kong Offos :—11, 'Quawa's Bowd, Omisest. Lushorfand Capital ... Guildare 180,000,000. (811,100,000.) Tald-Up Capital nemen Gailders; 10,080, CO
(23.000,137) Kasety Fund womanzo Guidors” 14,013,000
Read Ofori-AMSTERDAM- Bánlera Band Dios:-BATAVIA. BRANCHES Bandjartasiz, Bandrang", Bornbay.
Calouste Chartbon, Djamber, Djok Starts. The Slagua, Jeddah, Hobe, Kosa-Belja, Makamar, Medan, Padang Palabas Pekalonga Pontianak Babgton, Bottardam”,
(4),
Bamarang Bang, Bibot Barakarta (Solo), tagal, Tjilaf
(Bomatra), Singapore, Soɑzabala,
Weltarredon
Chase udices kate sale dopo bezet to let
London Barkan:-National Provincial Bank Ltd. Correspondents all over the world Banktor business of srazy description transacied."
A. STOKKINK.
Hong Kong, th August, 1960,
Kansız.
THE BANK OF CHINA. 行銀國小
in
raw
In
#
FRIDAY, JUNE 12, 1931.
AUSTRIA'S MONEY
DIFFICULTIES.
Bitter Comment on New Developments.
FINANCIAL SECURITY.:
Vienna, May 29,"
Lord Irwin:-Those who' desire change, are not always sensible, of the great, traditions of the past, and those who dwell so firmly ̄on the past are disposed sometimes to forget that change is one of the great laws of life.
Lord Macmillan,chatroian, | Banking and Finance Commission:
Vor-
That the financial security ofBy all means let us have the Austria has been bought at tog best administration of our high a prion by giving up the counrency. But all these things are in try's financial Independence is the vain unless they maintain the Impression prevailing here after
Credltanstalt.
A
the
efficiency of labour, technical com- petence of management and the ald supplied by capital in the form of equipment and machinery. Ris universal testimony that output per workman rises in times like these. We have already given some Inter- esting examples of this rise in dis- cussing building costs. This in the bill establishing the State's un-character of the people for enter- crease in output is a good argument limited liability for the foreign prise and probity.
Sir William H. Goschen, K.B.E., PROBLEM OF BUYING POWER. for maintenance of wage scales, but obligations of the Wiener Credit it also illustrates the wastefulanstalt had been passed by the
chairman, Angio-Celtic Trust, laxness of productive efficiency that National Council and after the
We Bank for International Settlements Ltd.:-It is difficult to see for the accumulates in boom periods. Throughout Industry the
do not hold a fatalistic attitude as in Busle had announced that ten moment what can be done to bring United States the necessity of re-to the necessity or depressions, but of the leading central banks had
is ducing costa of production and sell-we recognize that they are the most agreed to grant the national bank back that canfidence which the necessary cash necessary to its proper basis. Ing prices of the product has been effective enemies of the wasteful of Austria
In tiding the bank Rt. Hon. the Earl of Mar, and the paramount consideration of nese and unproductiveness which credit to help.
can seldom be combatted when they over the difficulties caused by the Kellie, K.T., chairman, Scottish executives during the past several are at their worst, ie., during the foreign
of entanglements
Union and National Insurance Co.: months, and the progress made in upswinga. Decision whether the
In future Austria's finances will There is little doubt that n efficiency. Is! that direction continues notable, and increase in labour Is one of the encouraging features aufficient to avert the necessity for be controlled and managed by forgrent part of the recent losses to French the small investor have occurred as wage reductions must be made, wa eigners, namely, by of the situation. The methods by
manufacturer on financial expert in the person of a result of lack of financial train- repeat, by cach which this reduction is being ac- the basis of the actual conditions Professor Rist, who will supervise ing and knowledge on his part as' the Creditanstalt, and by a repre- well as from a desire to get rich complished are varied; they include he faces.
sentative of the International Bank quickly. Fears For The Standard Of lower prices of
materials.
who is on his way to Vienna where Living Baseless.
Mr. F. W. Pascoe Rutter, economies
organization, in-
The formula for buying power he is to be installed as financial governor and chairman, London creases in productive efficiency, and stated above supplies a key for the adviser to the national bank of j'and Lancashire Insurance Co., salary and wage reductions. In examination of the statement that Austria. many cases the economies achieved lower wage rates endanger the
Bitter Press Comment: in other directions have enabled American standard of living. We Some papers comment, bitterly War era, made a serious attempt to think it correct to say that what is on these developments and on the cut our coat according to our cloth. manufacturers to reduce costs and temporarily affecting that standard fact that in spite of the obvious in
Dr. A. L. Bowley, Professor of Belling prices substantially without is not cuts in wage rates in reason ability of the Austrian State, or Statistics, University of London: resort to general horizontal wageable-proportion-to-declines-in-the-of what was left-of-it-by-the-peace- The suspicion attaching to retail- cuts, and the tendency to avoid such cost of living, but the inability of treaties, to sustain itself, the pro ing is largely due to the fact that. cuts, or defer them as long as pos- American employers, who are unable posal to follow the natural cause traders are unwilling or unable to sible, is a matter of common obser to reduce costs. (including wage of economic unity with Germany provide the statistics by which the vation. However, the number of
costa) and selling prices: to the in order to get at least a certain, case can be examined. The public, reductions announced has increased market's requirements, to give work amount of stabilisation, had aroused statesmen, and retailers suifer since the first of the year, and to American workmen. Standards in certain countries such a degree through want of information. whereas the largest number report of living are determined not by the of animosity that it could not be ed by the Department of Labour in number of dollars per hour or day described and interpreted otherwise
man is paid for working, but by other than as a reminder of the What Everyone Needs. what he can buy with the total old prejudice bred by the war. And number of dollars he receives. The now, the papers say, another proof No matter who you are or what dollar is merely a counter in an has been given of the Impossible you are, every man, woman and exchange of labour for goods and state of affairs created by the peace child needs an occasional aperient: The "Conspiracy" Myth.
services. This is fairly, well under-treaties. These countries have Waste matter is bound to ac- The use in the newspapers of the stood in this country, where the used the opportunity to prevent cumulate to a greater or lesser de- word "conspiracy" in connection
term "real wages" is generally Austria from taking the course that gree and every now and then the with wage reductions is so mani- festly extreme that it can be dia. familiar; it has been discussed at might have led to her economic food tract should be cleansed. missed. They can be no more an length previously in these letters, revival and aim at the definite ex and requires no further expositon tinction of her financial and ontcome of conspiracy than the
at this time.
economic sovereignty. That such declines in, say, commodity prices
methods will lead to an economie and dividends have been. It is
rehabilitation of Europe must, these papers assert, seriously be doubted.
Trans-Ocean Kuo Min.
Reorganised October 26, 1928, under any month of 1980 was 193
.in
special charter of The National Gov-August there were 335, in January this year, 228 in February, and 175 In March.
ernment as An
INTERNATIONAL EXCHANGE
i
BANK. Subscribed Capital ....$25,000,000,00 | Pald-Up Capital ..........$24,710,200,00 ..$ 3,820,503.82 Reserve Funds
HEAD OFFICE: SHANGHAL,
HONG KONG BRANCH:
4, Queen's Road Central,
a
་
Ltd.:-We are suffering especially because we have not, in this post-
IN FRANCE: Comptoir National tlon in San Francisco and Spain and world, we are able to extend to our and sobering realization of the auction of old goods and the creation FINANCIAL. WISDOM | Laxative which is not habit-creat-
d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas Uredit Industriel et Commercial; So dace Generale.
IN LONDON: The National Provin- cla. & Union Bank of England, Ltd.; Comptoir National d'Escompta de Paria; Credit Lyonnais.
IN NEW YORK: J. P. Morgan & Co., French American Banking Cor- porauoa; Guaranty Trust Co. of New York.
Interest allowed on Current Ac- counts and Fixed Deposits according to arrangements.
Every description of Banking and Exchango Business transacted. Safe Deposit Boxes to lot.
A. BONNAUD, ·
Manager. Hong Kong, 1st May, 1951.
THE YOKOHAMA SPECIE BANK,
LIMITED.
Established 1980.
Capital (fully paid-up) Yen 100,000,000. Reserve Fund ...Yen 115,000,000
Head Office:--YOKOHAMA.
Branches and Agencies at:
Manila Nagasaki
Alexandria
Batavia
Berlin
: Bombay
Calcutta
Canton
Changchun
Hamborg
Hankow
Harbin
Hong Kong
Honolulu
Nagoza
Newchwang
►
Pelping
Now York Osaka
Dairon (Dalny) Rangoon Fengtien (Mukden) Rio de Janeiro
San Francisco "Seattle...
Sematang Shangha Shimenosoki Singapore. Sourabaya Bydney Tientsin Tolyet Tsingtau Interest: allowed on Current Ac- counts.
Kal Yuon Karachi
Kobe
London:
Los Angeles
Lyons
Deposits received for fixed periods et rates to be obtained on application.
H. MORI,
Manager. 'Hong Kong, 11th, April, 1981).
Manager.
abroad.
other
There would be more occasion for Owing to our numerous branches in evident that employers generally are concern over the maintenance of American standarda of living if tomers the services of the Branches China and large connections in the im-approaching the question with a there were any reason to believe of the International Banking. Corpora-portant commercial centres of the deep sense of social responsibility that technical progress in the pro- also of The National City Bank of clients special facilities for domestic
Broadness and importance of the of new has come to an end. But Now. York (France), SA, in Paris and foreign banking sad exchanges.
We also handle the lasue of Bonds principles involved. Those who have the contrary is the case.
Labora and Nice.
F. McD, COURTNEY,
and other Public Funds of the Chin- the financial strength to carry tories ese Government both at home and through dull times, spd in whose abandoned; engineers and
are being extended, not
Hong Kong, 20th February, 1931.
unit costs labour bulks relatively scientists are more numerous and SHOU J. CHEN,
Manager. small, will doubtless make every able, and managers
more efficient, Hong Kong, 6th March, 1981. effort now, as they have done during not less. Out of their work will the past year or more, to carry on come in the future, as in the past, without cutting wage rates. On
the chief gains in living standards, THE BANK OF CANTON, LTD. the other hand, the disparity be which are achieved by reductions in
tween coste and competitive selling costs. prices is compelling an increasing number of those with relatively high unit labour charges to reduce them, In many instances the ensuing re duction of selling prices is permit- Canson, Shanghal, Hankow, Bio, ting operations that otherwise could Bangkok, New York and Ben Treacleco.not be conducted, and to that extent
GURRESPONDENTU
keeping up the amount of wages actually disbursed.
THE
AMERICAN EXPRESS COMPANY,
INC.
Head Office: 65, Broadway, New York.
.1.8.36,000,000 U.S.$2,572,464 U.8.$1,908,209
Capital: Surplus Reserves
-HRANCHES :=
Amsterdam
Nice Карие Pleastia
Par
Animary
Attam
Bala
Barlin
Blarita
Bombay
Вещий Brussle
Ooo Glasgow Havana Hamburg Ham Interlaken Jerusalem
Buenos Aires Liverpool
Caro
Calcutta
Dolombo Constantnople
· Goparkagag Zanburgh
Tsaaar
l'alarma Botterdam Boma Blamboul
London
Lupe.The LABS LALICE Marokos ... MORE Monte Carlo
Manila
Munich
Montreaz
Milan
Hbangbel donthampton -Eingapore
Tieniela
Tokobame Kualok
·Floreas ÜMONTH
Branches
Expres of American Company in Principal cities of Unit- ed States of America and Canada.
All classes of Commercial Banking Transactions undertaken. -
Personal handled.
Investment
Established 1912.
Head Office:-Bong Kong.
Authorised - Capital. (E.K, Curmanoy) $11,000,000 Fald-Up Capital ́ase.comma
0,550,000 Beer Fun
4,100,000
BRANCHERS
-LONDON-BANKERS,
The Lord's Bank, Llanffed.
In all pelasipal diles of the World.
4
Foreign" szóhangs and banking, burizam of every daniation lesznacial,
Bata Deposit Esse (xulosa siano) il a rearly tenial of from 40.
LOOK POONG shan,
Chief Manager.
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO.)
Maintaining Buying Power. The problem of maintaining the buying power of the population is one of preserving the balance be tween the different groups of pro- ducers and consumers, What le wanted is a price level for com modities that will enable goods to If exchange freely in the markets. the price of labour, or any other Item entering into the cost of manufactured goods, is too high in terms of what large groups of con- sumers sitch as farmers and pro- ducers of raw materials (who have Buffered heavy declines in purchas lung, Ing power) can pay, the mechanism Makong, Manio, Bhically, Talk, Talas of exchange is thrown out of gear, CHINA Sangha Hickey, Amor Foooow, production slows down, people are VTAKES LORD. Bizape Boersiars, thrown out of work, and purchasing
HEAD OFFICE:--Taipeh, Formats
Incorporated by Special Imperial Charter, 1899.
Conical Bank In Porc Bak-Ming and Armage amount wax. 18,000,000 BRANCHES AND AGENCIES ↑ JAPAN 1-STUKIO, Yokobleta, PhD DISAD
Accounts FORMOSA Gra
The Company offera to Intending Travellers the use of its “Travelers Cheques" and Letters of Gredit and, In addition, the world-wide services of its thoroughly equipped Travel De- partment.
Affliated with
·THE ́CHASE- NATIONAL BANK
Resources
Over d$2,500,000,000
C. II. BENSON,
General Manager
THE BANK OF EAST ASIA, LTD.
Established 1918.
HEAD OFFICE:
10, Des Voeux Road, Centrál,;
HONG EUN
of Bank
00,000.00
oyer 11.$80,000,000.08
and lzxchange business
Counts in lock and for
Balow," "Ganton, Part
Bomaringi Delaria, Bombay, Calcitability everywhere is curtailed. In
London, New York - Daten.
LONDON BAXKEBS;
The London County Wamitripe and Pary'e Bank other words, while we do not wish
The Bank has Overwiipondente fu all the principai Commercial Cestas throughout the world.
HONG KONG HORARVEL
Managne.
COASTWISE
ALGIE" BENNETT.
An interesting
of Cartoons Happenings China Coast
PRICE $1.00.
'Now on isola at
TAIDI
to take any general stand either for
er against wage cuts, we consider it desirable to point out that a broad view of the situation must take account of many factors besides the wage rate. Perhaps the simplest statement of buying power is that It is the product of hourly wage rates multiplied by hours of employ ment, divided by prices of the things bought. The desirable high quotient must be sought through equitable adjustment of all three elemente." It Is -ns necessary to keep the man at work and to sell him goods cheaply, as it is to pay hita a high nominal wage scale. Adjustment of these factors will vary in different industries. An practlop the problem is, being work- ed out carefully by manufacturers. With the facts of cost sheeta before. them, and the decli thus reach éd are likely to be wise reg which theories they square withi
OF THE WEEK.
The Restoration of
Confidence.
Rt. Hon. D. Lloyd Goorge P.C., P.All taxation is the nation
alisation of somebody's property.
This is sound health-sense and all doctors and health specialists agree. For this purpose there is nothing quite like Pinkettes, the laxative -regulator. occasional This splendid aperient has now filled the need which has long been Bought by research chemists for a
Ing, na other known laxatives are. You do not need to be taking Pinkettes always. They act as gently as nature, relieving the Most stubborn constipation sooth- ingly and without griping. bitiousness, sick headaches, liver- ishness, and derangements of the stomach and bowels generally, they are rapidly effective. All chemists.
can supply you.
and so good to my throat!
Don't you adore that wonderful Embassy flavor ?**
Indeed.yes
and they're so
aressing to my throat!"
Embassy
CORK TIPPED
YOUR THROAT LIKES THEM
For
لله