DANKS
BONG KONG AND SHANGHAI BANKING CORPORATION.
Authorized Capellat
$38,200.250
Læreré szt Faily Paidus : 630,000,000 Haterra Funda 1-----
#bookng THE
& 8,690,000 18,499,000
Kaleere Isak Käby at Propelentes a $38,108,199 #ELD WIFIORI NDIO KONS,
BOARD OF DIRROTO28.–
M. Mr. G. #' Maskia, Chatrooms.
How. Mr. J. 2. Pakaroon, Deputy Cherase.
HENG M. N. X. Bali, T. # · Poices, Be
&. I. Uampion, Nos. 3. A. Plummer, Hey.
M. Lauder Lewis, Esq. T. E. 1. Khaw, Bas
12. Wiskis, Bot.
AMOT
NAROKŮM MAJATIA
YHOMWAY
MALCUTTA
J. F. Warren, Bog-
Ohia! Manager,
~ Graybarn, Hon.
ANGERS (——
LONDON
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA, Incorporated by Royal Charter, 1853,
HEAD OFFICE: LONDON,
Paid-up Capital
Reserve Fund
,£9,000,000 .£1,000,000
Beserve Liability of Pro
prietors
£3,000,000
Agencies and Brauches:
ALOD STAN
GOKING
AMRITSAR
HADBAS
MANILA
KEDAN
BANG LUK
DATAVIA BOMALY -OALODZTA
CANTOX CAWKPOSE
CEBU
COLONBO DAIBEN
DELHI
HAIPHONO
DARBIN
KOBE
NEW YORK
PEPINO (Peking)
PENANG
RANGOON
TIENIBIN
TOXTO
TONGKAH (bakal}
TEINDTAG
THE CHINA MAIL.
THE HO HONG BANK, LTD.
(Established 1917)
HEAD OFFICE: SINGAPORE. Rong Kong Branch: 18, Queen's Ed. C.
Authorland Capital Straite $20,000,000 Issued Capital
8,000,000
Paid-up Capital
Bezerve Liabilities
17
4,000,000
4,000,000
2,087,000
of Bhareholders. Surplus
Branches, Agencies and Correspon- dents in the principal cities of the world.
Every description of Banking and Exchange business transacted.
TAN ENG HOOL..
Manager.
BANQUE DE L'INDOCHINE.
HEAD OFFICE:
96. Boulevard Hansamann, PARIS.
Capital fully paid up. Frs. 120,000,000 Reserves (31.12.1930) Frs. 110,568,454 BRANCHES!
China.
SAIGON
BEMARANG
BERRUBAN
HAMBURG
BUANQUAL
LANKOW
BINGAPORE
LYONS
BITIAWAN
пожа кока
SUURADATA
MALAODA
TLOILO
ΤΑΥΡΙΝΟ
MARILA
ІРОД
MUAR (Juker)
KARACHI
ΓΕΥΤΟΥ
MUKDEN
KLANG
CHROO
KEY KORE
KUALA KANGSAR
TOKOELMA
COLOMBO
KIFINO
KUALA LUMPUR
ZAMBOANDA
Indo-Chics.
Foreign Exchange
and General
POCHOPIOW
RANGOUR
SAIGON
Haiphong
MAN PANGIRON
MANTOW MAMEIN MONGLEW
BRANCHA
which will
AIKOAF IMM
Saigon Canton Hanoi
Fort-Bayard Battambang Hankeou Canthe Thanh Hoa
BOUBABAYA
SUKORI PATAN!
J. STUART,
Huo
Manager.
Nam Định
Quinhon
Pnom-Penh Shanghai
Hongkong Mongtze Peping
Other Places
Bangkok
Djibouti Noumes
Papeete
ILOILO
1201
TODOM
KONN
KOWLOON
QUALA LUMPUR
PENANG
TIENTSIN
TOKTO
ΤΟΙΒΟΣΔΟ TOKOHAMA
Egereni kesecnie opened in Loma) Duzveze) and Vice Depolis receitaå tur oge your s rer perioda in Local Curteney and se ➡turm which will be quaivi on applingsión. Hong Kong, anvä“ Pebenary, 2003.
HONG KONG SAVINGS BANK.
The Buelson of the sbore Bank is verduri- by the DNG KONG AND CHAHOMAI Falat may be BANKING CORPORATION.
beds spplication
FOR THE LONGKONG AND SMANOHAI
BANKING CORPORATION.
Y, K. OBATBURK,
Mony Xons, 10th July, 1900.
Chist Manager,
THE BANK OF CANTON, LTD. Established 1912.
Head Office-Hong Kong,
& Capital (II.K. Ostrunay) 811,000,000 Tall-Up Capital
Serve Fund mamuua
BALKUBKI :-
1,100,900
Dacies, hangal, Houkaw, Easter, Bangiok, Kev Lock and ben Frendess
CORRESPONDENTE
LONDON BANKERS |--
The Lion Blak, Idmited
in all principal miles of the Weria.
Fasiga archangs and banking business of
veory dasaription tennvorted.
Bata Depot's Base (vscious sizes) ni a postīj
smedal at Brotu $5 to 30.
LOOK POONG SHAN,
Banking business transacted.
Current Accounts opened and Fix
ed Deposits received for one year or shorter periods at rates be quoted on application.
Hong Kong, 17th August, 1931.
NEDERLANDSCHE HANDEL MAATSCHAPPIJ, N.V.
(NRTUMRLANDS TRADING SOGIRTY) BANKESS.
Eatablished 103. $125 Kong Chilso:-11, Qmez'a Bond Donirai.
Authored Capital
Bodara 118,060,666. (2.18.120,600, Oxilders 80,000.006 AMIT Food Odideen 5,816,000
F-Up Capital
Flood CMSTERDAM" Boston Hood ON001~HATAVIA. BRANCHES Bandjarmasin, Bandoang", Bombay,
Delcase, Charbon, br, Djok Since The Hague", Joblas, Kobe, Kose-Hadia, Makower, Medan, Padang Palemband Prizliapa FAILS Pratlanak Hagoon, Botterdam”,
The Bamarang
(Sumates) Blagar, floursba Barazarte (delo), Tagui, Tjikašao and Waltersdom,
• Jarre offlons kate sale Laponát boxes to lab, Lundan Bankers —Notlocal Provincial Back Lád. Dopondante sll over the world
Banking Sosiose of every dopilon transacted.
A. STOKNINK
King Kong, IBIS Aupark, 1000.
THE
Manager.
Chief Hanager. AMERICAN EXPRESS COMPANY,
Reserves
INC.
THE BANK OF CHINA. 行銀國中
Head Office: 66; Broadway, New York,
Capital
special charter of The National Gov- orament a NG
Reorganised October 25, 1923, under
Surplus
U.S.$8,000,000 U.B.$1,672,454 .U.S.$1,908,209
INTERNATIONAL EXCHANGE
BRANCHES :-
Amsterdam
G1000
Bala
Blaria Bombay Braces
Broods
13 Fatics Hamburg HATE Lutelakon Jerusalem
London Liverpool
Hiplok Pirena Parla Fung Peking Flore Bostadas
Quic
BANK.
Subscribed Capital...$95,000,000.00 Paid-up Capital $24,710,200.00 Beserve Funds ....$ 3,820,503.92
HEAD OFFICE: SHANGHAL
HONG KONG BRANCH:
4, Queen's Road Central.
Owing to our numerous branches in China and large connections in the im portant commercial centres of the
world, we are able to extend to o 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 shroad..
SHOU J, CHEN,
Hong Kong, 6th March, 1931.
علمية
Osicure CADA Uslambe Constantinopla
Depenkage Edinbur Flores CELETS
Lascerta Insas Lator
Maranlive Monte Carl
Maalis
Muniah
Montraux Mixm
Bome
Barbou
Shanghai Beatpo Bingspor B1. Verlis Tiaxtala
Vianna
Vezion
· Tokohama Euriab
Branches of American Express Company in Principal cities of Unit-
ed States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
Personal
Manager.handled.
Investment
accounts
The Company offers to intending Travellers the csa of its "Travelers Choques" and Letters of Credit and, THE YOKOHAMA SPECIE BANK, in addition, the world-wide services of its thoroughly equipped Travel Do: partment.
LIMITED.
Estabilshed 1880. Capital (fully paid-up) Yen 100,000,000 Reserve Fund ........Yen 118,200,000
Head Office>-YOKOHAMA, Branchor and Agencies at:
Alexandria
Batavia Berlin Bombay Calcutta
Canton
+
Changchun
Dairen (Dainy)
Nagasaki Nagoya Nowchwang
New York
· Osaka
Paris
Peiping
Rangoon
Fomatipo (Kukien) Bio de Janeiro
Hamburg Hankow Harbin
Hong Kong
Honolulu
Xai Toen Karachi Kobe
Mondon
Los Angeles
San Francisco
Seattle
Semarang Shanghai Shimonosek!
Singapore Boersbays Bydney
Tientaln Tokyo Tsingtan Interest allowed on Current As- entrat
Harila
Deposita received for fixed periods it rates to be obtained on application.
H. MORT,
(Manager, -
Hong Kong, Lith Gopiamber. 1981
Affiliated with THE CHASE NATIONAL BANK Resources...Over £12,500,000,000
E. W. DUGGAN,
Manager.
Touranc Vinh
Pondicherry .Tientain
Yunnanfou Singapore Every description of Banking and Exchange Business transacted.
Interest allowed on Current Accounts and Fixed Deposits according to ar rangements.
Safe Deposit Boxes to lot, Travellers' cheques issued.
A. BONNAUD,
Manager.
5, Queen's Road Central, French Bank Bullelog.
Hong Kong, 1st November, 1931.
THE NATIONAL CITY BANK OF NEW YORK.
HEAD OFFICE: 55, Wall Street, New York.
Capital, Surplus and
Undivided Profits ..U.B.$228,087,802
and
Commerce
Finance
THE PROBLEM OF OVER-
PRODUCTION
By Harold Cox.
(Continued from Yesterday.)
Writing on this subject in Lloyds Bank Monthly Review, Mr. Cox says:-
We are still faced with the main ing, unless the owners of the possess the problem: How are we to escape mouths and backa from the difficultios/which result means to pay for the food and from the prosent lack of balance clothing they want. Until by some between the world's powers of pro- miracle the masses of the popula duction and the world's capacity tlon are all endowed at birth with for consumption? Superficially comfortable.incomes, they can only such a lack of balance seems ab- acquire the power to pay for the surd. The producers of wheat things they want by themselves have bigger stocks than they can earning money, and they can only dispose of, yet simultaneously there earn money by competing in an al- are millions of people in the world, ready overcrowded labour market. especially, in India and China, The inevitable result of a rapidly
among the! unable to get as much bread as growing population they would like to eat. The same poorer classes must be a lowering contrast applies to manufactured of wages, and a further multiplica- goods. Cotton mille, not in Eng-, tion of the unemployed...
It is the standard of living that land only but in many other coun- tries also, are producing more cot-matters, not the number of people ton cloth than they can profitably alive. sell. Meanwhile, among the poorer classes all over Europe there are myriads of men and women and children insufficiently clad. How is म. botter adjustment to be Becured?
A middle-class family with an income of £1,000 a year providos ten times as good a market for the varied products of industry as that provided by a working-class family week. Moreover, the living on £2 well-to-do middle-class family will The popular socialist remedy-demand a large variety of commo- the raising of wages to Increase dities, many of them requiring skill- the purchasing power of the work- od labour for their production, Ing. man-has the merit of surface whereas the poor familles can in
it simplicity, but completely the main only afford to pay for ignores fundamental facts. Raising crude necessaries.
The essence of the world's pre- the wages of the few handfuls of men who guide steam-ploughs or sont trouble is that there are too steam-harvesters across the prairies many poor people seeking employ- of Canada or the American Middle ment, and relatively too few sufă- West is not going to increase the ciently rich to provide employment In earlier centuries' demand for wheat; nor will an in for the many. crease in the wages of cotton spin- death and disease to some extent; ners and weavers increase the de- prevented the expansion of this evil. but poor, It The poor remained mand for Lancashire, textiles.
With the may, of course, be argued that the they also remained few higher-paid field-worker will buy advent of steam machinery at the more cotton goods, and the higher- and of the eighteenth century tha paid cotton operative will buy more temptation of gaining weekly carn- bread. But this argument ignores Ings for small children working in the fact that the world is not a the mills stimulated a sudden up-| single unit of production for wheat rush of population; but very little Commercial and Travellers' Letters of Credit, Travellers Cheques, Bill or for cotton, or for anything else. j improvement in the standard of life! of Exchange and Cable Transfer The producers in different coun- of the wage-earner followed. Had bought and sold. Current account tries are in keen competition with the working classes at that period If the wages of kept down their rate of increase] and Savings Bank accounts opened one another.
were they would have been able to secure and Fixed Deposits in local and for English cotton operatives eign currencies taken at rates that may be ascertained on application to raised to any considerable extent better wages, and the machine! the trade of Lancashire would be would have been their servant and the Bank
Branches in 5---
LONDON
ARGENTINE BELGIUM BRAZIL CHILE
CHINA
COLOMBIA CUBA
DOMINICAN
REPUBLIC
INDIA ITALY JAPAN
MEXICO
PANAMA PERU PHILIPPINE ISLANDS PORTO RIOD STRAITS
SETTLEMENTS URUGUAY VENEZUELA
Manager,
F. McD. COURTNEY,
Hong Kong, June 16, 1981,
The benefits of We are also able to offer our Cu-wiped out by the cheaper labour of not their master. tomers the services of the Branches foreign countries; for it is incon- machinery to the world might have somewhat less of the International Banking Corpora tion in San Francisco and Spain and ceivable that the cotton workers in been developed also of The National City Bank of England, France, Belgium, Gor-, rapidly, but they would have been New York (France), B.A, ju Park many, Italy and Czecho-Slovakia, in more widely distributed.
In the later years of the nine- India, China and Japan, could ever and Nice.
get together and agree to cease teenth century the situation grew competing with one another in better. The working classes began order that all thoir wages might be to imitate the prudence of the upper their families became raised. Nor, even if such an agree classes; ment could be reached, would it smaller and their 'standard of living The difficulty to-day is that solve the problem, for so far as the rose. purpose of the agreement was at methods of production in the last tained and prices rose, consump- ten or fifteen years have so greatly HEAD OFFICE:---Taipeh, Formosation would tend to decline and improved that fewer manual work- fewer workers would be required. ers are required to meet the de- As an alternative to the socialist mands of industry, yet the working- contention that the problem of un-class population is still increasing employment can be solved by arti- its numbers, though at a slower rate
THE BANK OF TAIWAN, LTD. (TAIWAN GINKO.)
Incorporated by Special Imperial
Charter, 1899.
Central Back in Foncone:
BRANCHES AND AGENCIES:
Bwalow, Guatem
Zag Larece,
Beratung.
Bateria, London, New York," Dairem.
LONDON BANKERS E
The London Dossly Waitsiaalse and Parz's Bank The Bank has Cserepondente iz all the prinsipe Commercial Ceniese throughout the world.
L NAGUES.
HONG KONG Vs Bood Doctral
BRANCH | Bong Kong, 191k Jamsary, 1998.
WEDNESDAY, NOVEMBER 4, 1931.
FINDLATER'S
PORTS,
SATISFY
SHERRIES.
THE MOST DISCRIMINATING PALATE.
GIVE
THEM
A TRIAL
FINDLATER MACKIE TODD & CO., LTD.
By Appointment Wine and Spirit Merchants
To H.M. The King.
SOLE AGENTS:-
GILMAN & CO., LTD.
PHOTO SUPPLIES,
PHOTOS TAKEN DAY AND NIGHT. Zelsa, Kodake, Cameras, Films, Plates, and Papers, etc. Developing, Printing and Enlarging.
AT 24 HOURS SERVICE
Price Moderate.
A Trial Order is Solicited.
1
THE KWONG KWUI CO., LTD.
74, Queen's Road Central, Hong Kong, Tel. 22170.
FOR SALE.
Flower and Vegetable
SEEDS
Indication points to a HEAVY DEMAND
for seeds THIS SEASON.
To be sure of gettiar every variety you wish we suggest that you ORDER TO-DAY.
GRACA & CO.,
No. 10, Wyndham Street.
Hong Kong. P. O. Box 620.
CANADIAN TRADE. New Offices in the Orient.
en-
I.
Following the policy of the Cana- Bank-Kolos massed Average amoun) 267«n. 18,000,0ficially increasing wages, we have than in previous decades. The re-dian Government of actively the equally li-thought-out argu-sult is that, taking the world as a couraging exports, Hon. H. sment that if population were to ex- whole, millions of men and women Stevens, Minister of Trade and JAPAN Tokyo, Tokolu, Lobe, Opaka FORMOSA ¡itian
Ahong, Mambo, Shuchiku, Telebu, Talsas, pand more rapidly there would be who would gladly be working are Commerce, has issued instructions Takao, Tamai, Tom,Hallo, i Fooow, an increased number of consumers compelled to stand by. If these for the extension of Canadian trade HINA-Gagal Hankow OTHERS LOGE Bingson, Rossbars and consequently a better market work-seekers would abstain from activities in China and Japan, The Bombay. Daca for the goods produced. But the producing more work-seekers, the feature of these will be the opening Commissioners mere multiplication of mouths and problem would begin to solve itself. of two new Trade backs does not increase the com- The burden of the family budget fices-one in Dairen and one in mercial demand for food and cloth would be immediately reduced, and Tientsin. Together with the offices that would mean less anxiety to the already established in Hong Kong wage-earner and a higher standard and Shanghai, Canada will now have of himself and his wife and his adequate representation for trade emailer family. Later on, the, matters in China and it is expected economic effect would be still more that further increases in the grow marked, for the number of young ing volume of trade between the two persons seeking employment would, countries will result.
Mr. Paul Sykes, who has been decline, and as the process con- tinued the surplus of labour would, Canadian Trade Commissioner in be offectively reduced.
Hong Kong since the opening of the Many people are to-day criticiz-office two and a half years ago, ing Malthus because the shortage leaves the Colony by the Empress of of food which he prophesied would Japan this Saturday to undertake occur, if. population continued, to the establishment of Canada's now Increase without contral, now seems trade outpost in Dairen. The office far out of sight. But this does not will be primarily concerned with
Manchurian territory, mean that Malthus was wrong in the
THE BANK OF EAST ASIA, LTD.
Established 1918.
HEAD OFFICE: 10, Des Voeux Road, Central HONG KONG
Capital and Barplus '.
Total Resources ..
over HL$ 8,000,000.00 .................. over. II.$20,000,000.00 Every description of Banking and Exchange business transacted.
Current and Fixed Depoalt Accounts in local and for- eign currencies opened for ellents.
Savings Account and Safe Deposit Boxes.
Branches and Agencies all over the world.
KAN TONG PO,
THE MERCANTILE BANK OF INDIA, LTD.
USAD OFFIONI
16, Graceeburch Street, London, B.CA.
£3,000,000 Authorised Capital Subscribed Capital .... 1,800,000 Fall-up Capital * 1,050,000 Reserve Fund and Rest 1,408,845 BANKLES, The Desk of Engison à Midland Bank, Ltd.
BLANCHES Bangkok Ipok
Batavie
Honey
| Caloytja),
Karachi -Kota Phare--
Colombe
Xenia Lésée
| Galls"
ong Kong Howsk
Xar York Bang Foot Lou's
(Mumeitlus) Rangoon Stanghal
Last
Kuala Lump Hoanian (Iskang) Bingiyors Boureboys
HONG KONG DRAKON. A Every description of Banking and Hackungs best sasa trinaestel
Traveler Obecome kosmed; week!
Tregion and Executorships under
takan,
INTEKENT Klowed, on - Durruth, "Ancounde und
1
the Insisting on the need for the pru-economic development of which, dential control of population. All closely allled with that of Canada, it means le, that whereas he laid, holds out large opportunities to stress on the danger of starvation as Canadian producers, the ultimate result of over-popula-
Mr. WJ. Riddiford, who has
Loss of Appetite indicates the need for a dose of Baby's Own Tablets, the plea-} sant-tasting stomach and borcel regulators for children. This popular household children's health-safeguard can be given with absolute safety and con fidence to the youngest infant] and children up to six years of age.
By their gentle cleansing and stimulating action Baby's Own: Tablets soon restore lost appetite and make the child happy and Icheerful once more,;
BABY'S OWN TABLETS
allay
are the ideal combination of the finest known ingredients for the treatment of children's ailments. They correct infantile indiges- tion and constipation, stimulate Aagging appetites, chock diary- hoce, expel worms, fever, colds and croup. During teeth- ing they ease the pains instante ly and thus induce sound natural theep although they are guaran
to contain no opiato or nar- colic elements. As a general health sate- guard for babies
änd infants
Lied upon
by
mil-
iona
par
Tents"
in all Iparts
FOR CHILDRENS AILMENTS
of the world.
Mr. Hiram Maxim has devised Fast Deposite. 43 Redes that may be amortalation, what we now find is that over been. Assistant Trade Commissioner silencer which, while eliminating on applications
population meane widespread un-in-Hong Kong for the paèt two all street nofpes and facilitating Manager employment with resulting misery years, has been Instructed to take sleep, perraits adequate ventilation
of bedrooms.
C. LA BANDES,..
Chief Manager.
1. Queen's Beall Contest.
Hong Hong 25th Aprli, 2000
to millions of people.
lover the local office.