BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Unkhorinë Capital
Seserva Frada ;—
kaptein 1990,000,000
Sirer some 625,000,000
Boners Lablity of Progrlakers a $76,000,000
WHAD MFIKSD, BORA KONA.
BOARD OF DINMƏYƏRƏ,-
E r 0, 0. 1. Koskis. Dinle.
Han. Mr. J. 1. Peterson, Deputy Chairisa.
106 KG 1. 1. 34ll, T. E Puerto, Ros
4. M. Compton, Mog. 3. L. Plummer. Mey.
m. Yaude Lewis, Hog. 7. I. X. Man, Bay.
ΠΑΠΟ ΚΟΝ
"RATATIA
BOMBAY
KANTON
Warna Mog.
Olde! Massgr.
*L Graybare; Beg
LANCH
LONDON
LIOND
MALACOA
MANILA
MUAR (Tabers)
WALOUTTA
MUEDAN
NEW YORK
112700
DOLOMBO
DAIRBE #оONGW
MALYZOKR
HAMBURG
BANEUW
CARRIN
MONOKRW
CLOILO
OK
JOHORN
KOS
HOW LOOM
KUALA LUMPUR
ΜΕΤΡΙΚΟ
PENANG
BANGOOR
BAIGUM
SAN FRANOTIOU
RHANGHA
SINGAPOR
MURABAYA
BUNGMI PATANI TIENTSIN
TUKYO
TSINGTAO YOKOHAMA
Ögerias Ásveenia opanoi ta Lomat Durrather and Fixed Deposite resuired ton apa yaOT... ME shorter prinda in Emon! Derranes and Berlia in lema vklad will be quoted on syylloaven. Hong Kong, Wh February, 1001.
HONG KONG SAVINGS BANK.
The Buelsons of the above Bank laaandusi.
ed by the HONG KONG AND BHANGHAL WANKING CORPORATION, Mulan may b skland on application.
PON TUM KONGLONG AND SHANGHAI BANKING CONFORATION,
V. 12. GRATOURK,
Hong Kong, 10th July, 2000,
Cidet Xange.
THE BANK OF CANTON, LTD. Established 1912.
Head Ofca-Hong Kong,
Rütberland Ospital (ILL. Oscranny) $11,100,000 Beste VELE mememeras 1,100,000
BRANCHES :-
Canton, Bhaag Hankow, Basket, Bangkok. New York and has Tenn.200,
DOBLESPONDENTE
LONDON BANKELE 1000
The Lloyd's Bank, Limited.
In all principal sitios of the Wall.
Farsiga utangi and bazilik bucksson of
avery divecipiłam izsmancipi.
Bate Depot Bouna (værlene slave) as a puncis
read of ecu 10 so $4).
LOOK POONG SHAN,
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858.
HEAD OFFICE: LONDON.
THE
CHINA MAIL.
THE HO HONG BANK, LTD.
(Established 1917.)
HEAD OFFICE:-SINGAPORE. Hong Kong Branch: 18, Queen's Rd. C.
Authorised Capital Biraita $20,000,000 Inoued Capital
8,000,000
Reserve Liabilities
Paid-up Capital ...
ต
4,000,000
of Shareholders.
1
4,000,000
Surplus.............
#
Paid-up Capital
Reserve Fund
£9,000,000 £4,000,000
Reserve Liability of Pro
prietors
Branches, Agencies and Correspon- idents in the principal cities of the
world.
£8,000,000
Agencies and Branches:
ALOB STAR
AMRITSAR
BANGKOK BATAVIA
BOMBAY DALOUZTA CANTON DAWNFORM OZBU COLOMBO
DAIREN
DELI
IF:080 ПАМЕТНО BANKOW HARFIN
FONT YONG
ILOILO
ПРОН
TABLOUI
ILANG
пов
KUALA KANGSAR
KUALA LUMPUTA
KUONING
MADRAS
MANILA
MEDAN
NEW YORK
PRFING (F»klug)
PENANG
FANGOON
BAIGON
OXMARANG
BEREKBAN
BHAKOYAI
BINGAPORE
SITIAWAN
TAIPING
SOURARAYA
TIENIKIN
TUK YO
TONGKAH (133x300)
Foreign Exchange
Banking business transacted.
Current Accounts opened and Fix. ed Deposits received for one your or aborter periods at rates
WEDNESDAY, NOVEMBER 25, 1931,
quirements of the Acis represent panics, is not sufficiently far-reach- only a minimum of Information. ing. It is only necessary to show
Commerce and Responsibility for determining how how aggregate profits or losses have
2,997,000 HOLDING COMPANY
ORGANISATION.
Every description of Banking and Exchange business' transacted.
TAN ENG HOOI,
Manager.
BANQUE DE L'INDOCHINE.
HEAD OFFICE:
96, Boulevard Haussmann,
PARIS.
Sir Gilbert Garnsey on Procedure.
The advent of the holding com- pany has Introduced a new factor into British joint stock company finance. In itself the practice of an undertaking holding shares in aub- sidiaries is by no means new. The term "holding company." on the other hand, has come into use only
recent
years to
Capital fully paid up .Frs. 120,000,000 in comparatively Roservos (31.12.1950).Fra. 118,368,454 denote the controlling, unit in those
vast organisations of related com- panlee towards which modern de- Places.velopment has tended.
BRANCHES:
THIROTAO
YOKOHAMA
ZAMBOANGA
ad General
Manager.
Indo-China. China. Other Saigon
Canton Hanol
Bangkok Fort-Bayard Haiphong Battambang Hankeou Djibouti Cantho which will
Hongkong Thank-Hos
Noumea Hua
Mongtze Nam-Dinh
Papeete Peping
Hong Kong, 17th August, 1981.
Quiahon
Prom-Penh Shanghai
Точгана
be quoted on application.
J. STUART,
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
DORTHERLANDS TRADING SOCIETY
DANKZES.
Established 1834. "
Hong Kong Offs:---11. Quam's Bood Control Authorial Capital Gulidara 138,800,000- (819,890,800.) Pald-Up Deplia) i Gullfors 10,000 MI Kaonya Fundulldorn 48.415,
Hand OfMSTERDAM. Born Head Ofon:~~BATAVIL BRANOURI |- Bendjarmasin, Bezdomną“, Bombay,
Daloutte, Charlbon, Djambar, Dick jari, The Elagos2, 20415%, Z6%, Kow-Badje, Mekanını, Helax, Palang)
Pokalingis, Frang Palenberg, Pontiaca Beagoon, Motterdam”, Bamarang Bangsal,
(Bunten), Blogsport, Soprabala Bosskarte (Solo), Togni, Tišinjap nad Wallstreak
• This allow hero vafa depreté bazar'de lek. Lasten Paskarz-Kotional Provincial Bank Xad. Owrepondeate all ever the world
Backing business of every
pilon trazaadbed.
A. STOKKIKE,
Kade Kong, 29 August, 1900,
THE
Masign.
Chief Manager. AMERICAN EXPRESS COMPANY.
THE BANK OF CHINA.
行銀國中
INTERNATIONAL EXCHANGE
Subscribed Capital....$25,000,000.00
INC.
Head Office: 65,- Broadway, New York.
.U.S.$6,000,000 „U.8.$1,672,454 ..U.8.$1,908.200
Capita!
-special charter of The National Gov- ernment sa at
Reorganised October 28, 1928, under
Surplus
Reserves
BRANCHES:-
BANK.
AxiToz
Д
Paid-Up Capital
.$24,710,200.00
Beala
Barlin
Glasgow Hata Kambory Ната
Beserve Funds
.@ 6,820,508,8#
Barrila
*Interlaken
Bombay
Brebes
Bearsala
Born Alco
Dales
Jozumian Ládo Londos Liverpool Lar
Kiples
Farla Fraine Faking Palermo
Bollardam Soma Bamboul
Calcula
HEAD OFFICE: SHANGHAI
HONG KONG BRANCH:
4, Queen's Road Central
Owing to oar numorous branches in China and large connections in the im- portant commercial centres of the world, we are able to extend to our clients special facilities for domestic and foreign banking and exchanges.
We also handle the issue of Banda and other Public Funds of the Chin ese Government both at home and abroad.
SHOU J, CHEN,
Hong Kong, 5th March, 1932.
Manager.
-ÜNE
Dalaasha
Constantinopla Copenhage Edinburgh
Оката
Branches
Lugano LALOr Kellies
Monte Carle
Mania
Munic
Montreux
Milaa
Benthampion
Bingapore
B. Mort
نها Than
Vianne
Tokobama Bursch
of American Express Company in Principal cities of Unite ed States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
..Personal handled
investment
accounts
The Company offere to intending Travellers the sse of its "Travelers Cheques" and Letters of Credit and, THE YOKOHAMA SPECIE BANK, in addition, the world-wide services of its thoroughly equipped, Travel De- partment.
LIMITED.
Established 1880.
Capital (fully paid-up) Yen 103,000,000 Yan 118,200,000 Becerro Fund
Head Offices—YOKOHAMA.
Branches and Agencies at:
Alexandria
Batavia
Berlia
Bombay
CARON
Changchun
Daire (Dalay)
Nagasaki
Naroys Newchwang Now York Ozaka Paris
Vengtion (Mukdea) Rio de Janeiro
Hamburg
Hamkow
Honolulu
Kai Yuen
Karachi
Kobe
London
Francisco
Affiliated with
THE CHASE NATIONAL BANK Resources ..Orez G$2,500,000,000
E. W. DUGGAN,
Vinh
Tientsin
came
The practice grew without any express legal regulation until the Companies Acts of 1928 and 1929 were passed. The changes only be
operative on November 1, 1929, so that there has scarce-
been ly
time to appreciate Pondleborry their full
results. At the time, same
the valuable ex- perience gained of the first move towards "making the published ac- counts of complex amalgamations more informative and intelligible"
Yunnanfot Singapore Every description of Banking and Exchange Business transacted.
Interest allowed on Current Accounts
and Fixed Deposits according to renders the time opportune for a re- rangements.
Safe Deposit Boxes to let. Travellers' choques issued.
survey of the whole subject.
The organisation of the holding company lies so largely within the accountant's sphere that only. so Manager.practised a hand as that of Sir
A. BONNAUD,
5, Queen's Road Central,
French Bank Building. Hong Kong, 1st November, 1981.
THE NATIONAL CITY BANK
OF NEW YORK.
HEAD OFFICE: 55, Wall Street, New York,
Capital, Surplus and
Undivided Prosta ..U.S.$228,037,892
Branches --
ARGENTINE BELGIUM BRAZIL
CHILE CHINA COLOMBIA CUBA
DOMINICAN
REPUBLIC
INDIA ITALY JAPAN
LONDON
MEXICO
PANAMA PERU PHILIPPINE ISLANDS PORTO RICO STRAITS
SETTLEMENTS URUGUAY VENEZUELA
Gilbert Garnsey can deal adequately with the subject, says the Financial Times on October 18. He brings a; wide and varied experience ko bear, in his revision, in the light of cur- rent. conditions, of the book on the question which he published in 1928. The new edition, which is пож available, will be of the utmost value not only to his fellow accountante but to all concerned with the organ- isation and management of the undertakings with which he deals.
What is a Holding Company?
The "holding company" is not legally defined, but is inferentially to be regarded as one "whose assets Include investments in shares of one or more subsidiary companies." This makes control an essential fea- ture, for a "aubsidiary," in terms of the Act, is one of which the more holding company possesses than 50 per cent. of the voting can appoint, directly or power or indirectly, the majority of the direc
Commercial and Travellers' Letters of Credit, Travellers Cheques, Bills of Exchange and Cable Transfers tors. bought and sold. Correat accounta and Savings Bank accounts opened and Fixed Deposits in local and for eign currencies taken at rates that may be ascertained on application to the Bank.
Sir Gilbert starts the detailed examination of his subject with a consideration of the advantages a well as the disadvantages which
We are also able to offer our Cus- may be encountered in the execution of amalgamation tomers the services of the Branches of
schemes
of the International Banking Corpora- through holding companies. Casca tion in San Francisco and Spain and have occurred, ho. remarks, where also of The National City Bank of New York (France), SA, in Paris overlooking the possibility of dis- and Nice.
advantages has reacted detrimental- ly upon those concerned.
F. MED. COURTNEY,
Manager. Hong Kong, June 16, 1981.
Such amalgamations must have a rational basis and for their success- ful conduct they must have directors of wide vision, with a knowledge of human nature enabling them to THE BANK OF TAIWAN, LTD. select the right type of manager to
(TAIWAN GINKO.)
HEAD OFFICE:-Taipeh, Formosa.
Incorporated by Special Imperial Charter, 1899.
execute their policies. Given these essentials, there are many advan- tages obtainable. Excessive com- petition may be eliminated, prices controlled (not necessarily raised, Sir Gilbert notes), technical experi ence and research pooled, and à sub- Bank-Tales bouted Aracags sumoval --Ton. 88,000,000 stantial measure of economy, com-
DHAKCHES AND AGENCIES: ' JAPAN-Tokyo, Yokohama, Robe, Osaka, FORMARA --Uiran
Dutral Bank ins Formom.
bined with Improved efficiency, Kranko Ksalonachieved. Makong, Mania, Shachiku, Taichu, Iwiasz, Takeo, Tammi, Toen. Heild, T
The actual process of amalgama- OXINA --anghai, Hankow, sey, Fotion is dismissed somewhat briefly, OTHERS 1-neg Wang, Bingsport, Bosbars, since the main purpose of the au-
Gwalow, Canion
+
Gemarang
Bombay. Valamisa,
London, Yew York, Darm
LOYDON BANKERS +
thor is to deal with the actual work-
The London County Wasimbaher and Foer's Banking of the companies and the pre-
The Bank has Correspondin in all the gefap Gentation of their accounts. An Comercial Dentese throughout the world. Important chapter deals with the
K. MAGURA.
HONG KONG BRANCH 1
Don Bosk. Omirž Manager.g Kong, 13h January, 15th
THE BANK OF EAST ASIA, LTD.
Established 1913.
HEAD OFFICE:
10, Des Voeux Road, Central. TONG KONG.
Paiping Rangoon
San Beatils Semarang Shimono H
Capital and Surplus Total Resources
Singapore
Boarabaya Bydney Tientala Tokyo Talogten Invrsat allowed on Current Ao-
Los Angeles Manija
DOTED
Depalla peceived for fixed periode
at zatos to be obtained on application
H. MORL
Manager
Hong Kong, 11th September, 1921
THE MERCANTILE BANK OF
INDIA, LTD.
HEAD OFFICE:
15, Groschach Street, London, 2.0.1
Authorised Capital
Babreribed Capital
Paid-up Capital “.......
£8,000,000
1,800,000
1,050,000.
Reserve Fund and Rest 1,860,945
BANKERS:
The Bank of England à Midland Bank, TAQ,
DILKOLES
Bengkok
Ipak
Yew Yor's
Batavia
Kandy
..., over H$ 8,000,000.00. over HL.$80,000,000.00
Bombay Calculia Dolombo Delhi
Xarici Kowe Bhare Kuala Krai
Fork Los
Koala Kaple
Hong Kong Howrah
Fangoon
Hiyala
·Koels Lamper Knania# (Palang) Blogspore Boufalays
Every description of Banking and Exchange business. transacted.
Current and Fixed Deposit Accounts in local and for-
eign currencies opened for clients,
Bavings Account and Safe Deposit Boxes. Branches and Agencies all over the world.
KAN TONG PO,
HONG KONG, BRANGE."- Krsey dasgfpion of Zanking and Exokauga Unai- Trevallers Cheques langað.
Trustee and Executorships under« taken.
INTERKIT Newed in Durses Ansonnie and Tland Depondis et Rabis that may be,necarialnad
C. L. SANDES,
Chief Manager.
4. Queen's Road Content.
Long Kim, 2014 April, 2000
Manager:
Finance
much can be told with safety, and been dealt with. In respect alone should be revealed for the benefit of the year under review, and of the shareholders, rests mainly without mentioning guros.
The absence of provision that with the directors. The legal de- mands and three main ways of sup- amounts of profits and losses of sub- plementing them are examined at sidiaries should bo, specified, in organisation of the newly-created length. The latter are the simul- conjunction with the possible ab- group. If it la' to work successful-taneous publication of the accounts sence of any reference to accumulat- ly, a fine balance must be main-of all subsidiaries, the issue of a ed profits or losses thereof, has, in tained between the interests of the summary of their combined figures, Sir Gilbert's view, left opan oppor- shbaldiary companies (which main or the compilation of a consolidated tunities to avoid a clear presenta- tain their individual existence and balance-sheet. of the whole under-tlon of the true position of the group as a whole. A safeguard is, perhaps still have outside share-taking. holders) and those of the group as On one point Sir Gilbert is of course, that the bost practice
critical. a whole.
He paints out that the runs in advance of the legal re- Presentation of Accounts. statement with regard to the results quireménta which may be destrable. A point of interest for auditors The question of the presentation of subsidiary companies, which is of the accounts is discussed in great among the special requirements of is that, while the sufficiency of the
(Continued on Page 3.) detail. It is emphasised that the re- the Act relative to holding com-
Identify Mu
by the while
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