4
100,000,000
THE
CHINA MAIL.
BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Zalberized Capital immemintammEASED 10 Error and Falls Pullup Bocorro. Pažleşen
Chefs of cores reperie # 1,800,000
THE NEW
$10,000,000
Mareve Lakin af Propriadors ........ 910,105,000
MELD SYRIEN: MORE HOME.
BOARD OF DIRECTORS )--- M. Mr. G. G. E. Maskia, Cheltumu.
Hos. Mr. J._J. Patorvos, -
Deputy Chairma
W. II. Hell, Feq. T. Touros, Rou
B. X. dompton, Mog. 1. à. Hammer, Hos
2. Lother Lewis, 394. T. H. R. The
J. P. Warren, Bey.
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA, Incorporated by Royal Charter, 1858.
THE HO HONG BANK, LTD.
(Established 1917.)
HEAD OFFICE: SINGAPORK. Hong Kong Branch: 18, Queen's Rd. C.
1 4,000,000
Authorised Capital Straits $20,000,000 Issued Capital ..........
8,000,000 Paid-up Capital .... Reserve Liabilities.
of Shareholders. Surplus
AMOR
BANUKON
BATAVIA
MOMBAT
Chiel Manager.
T
N. Graylern, Box.
NALOUTTA
LANOĦRU :--
LONDON
LYONE MALADOA
HEAD OFFICE: LONDON.
И
4,000,000 2,687,000
Paid-up Capital
Reserve Fund
Reserve Liability of Pro-
prietors
£3,000,000 .£1,000,000
#3,000,000
Branchos, Agencies and Correapon- donte in the principal cities of the world.
Agencies and Branches:
ALOR STAR
IUONING
AKBITHAR
MADRAR
MANILA
NEDAN
BANOXOS
BATAVIA
BOMBAY
Beg
GENO COLOMBO DAIREN
DELHI
Every description of Baning and Exchange business transacted.
TAN ENG Hoor,
Manager.
JALOUITA
DANTON СДИКРОДИ
NEW YORK
PRVING (Peklog)
PENANG
BANGOON
BAIOON
BEMARANG
BANQUE DE L'INDOCHINE.
HEAD OFFICE:
96, Boulevard Katusmann,
PARIS.
HAIPHONG
HAMBURG
BEREMBAN
BUANOMAI
HANKOW
RINGAPORE
F
WAZIR
SITIAWAN
HONG LONG
BOURABAYA
ILOILO
TAIPING
MANILA
POH
TIENTSIN
MUAR ($charo)
KARAOK
TUKTO
KLANG
YOXDEN
TUNGKAH (Bbuksi) TRINGTAO
KEW YORK
TOKOHAMA
PREFIXO
Indo-China. Saigon
Capital fully paid up .Frs. 120,000,000 Reserves (31.12.1980) .Fr. 110,568,454| BRANCHES:
China.
Canton
Hanoi
Halphong Fort-Bayard
Canthe
Thanh-Hoa Huo
Nam-Dinh
Battambang Hankeou
Hongkong Mongtze Poping
Prom-Penh Shanghal
Other Places,
Bangkok
Djibouti
Noumea
Papeete
Pondicherry Tientsin Yunnanfou Singapore
CANTON **
SUZYDO BOLOMBO
roodkow НАЦИОНА HAMBURG MAKKOW MARKIN KOKOLEW ILOILO
РДНАХО
BANGOON
EAIGON
HAN YRANDIB00
SINGAPORE
COURAMATA
GUNGRI PAZANI
TIENT IN
TORTO
Кови
KUALA KANGSAM
KUALA LUMPUN ZAMBOANGA
Foreign Exchange
and General
Banking business transacted.
Current Accounts opened and Fiz. od Deposits received for one your or shorter periods at rates be quoted on application.
which will
J. STUART,
10M
KD
TAINGTAO
TOKOHAMA
LUMPUR.
KOWLOOK
KUALA
Emre Azale opened in Lawi Curende 200 and Depois osolved in one year 1 Thaise parlada in Lamond Outrosey and Blaclita an sorma which will be quoted in appliendom. Hong Kong, Pecember 7, Emy,
HONG KONG SAVINGS BANK.
The Business of the above Bank is aaudzet
4 by the HONG KONG AND SHANGHAI
MAKING CORPORATION,
ablained 6 ppiliation.
FOR THE HONGKONG AND BHANGULI MARKING OOMPORATION.
7. M. GRAYBURN,
Hong Kong, 184k, July, 1500,
THE BANK OF CANTON, LTD. Katabilahod 1913.
Head Office: Hong Kong.
Batbochod Osplici (1.I. Cuzinney}' 311,000,000 Fold-Up Capil
Kamerò Fand seeneses
DIAMONES
Dusion, Flangesi,
1,100,904
Hanhaw, Gwadow,
Bengkak, Now Toch and Son Femmelave
CORRESPONDENTE
LONDON BANKZRE |–
The Lloyd's Bank, Limited,
Es all principal cibine of the Wel.
Vorig hangs and beckian bustamen o
way downtyslem transacted,
Sala Depse Boxes (various dean) si a zaarly
vered a from $10 $40.
LOOK POONG BHAN,
Chief Maragar.
THE BANK OF CHINA. 行鋇國中
Manager.
Hong Kong, 17th August, 1931.
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
(NETHERLANDS THADING SOCIETY)
DANKERS.
Extalibuss 1821,
Hong Kong Offer:-11, Queen's Road Central. Authorised Caplis ................................... Guilder 220,000,000-
[R12,000,000.)
- Caplist Guilder 80,000,000. (24,880,17.) Iterre Fard
Guilde 40,015,no (43,384,CEB.) AMSTERDA
Head Of Eastern Road Difer :~~~HATAVIA,
درو
Branchen :-Jardinem, Bandoeng", Bombay,
Calcutta, Chezbon, Djember, jakarte. The apue, Jidda, Kobe, Maker Meden. Palembang. Pakk Langan, Penang. argoon, Aniterdam' Hemarang. Abang, Singapore, Horr bela, Barakarta (Solol, Tegel. Tillating and Wallnereden®,
* These officer have Safe Deposit on to Let.
LONDON BANKELS
NATIONAL PROVINCIAL BANK LTD.
Correspondents all over the world. Banking Bus form ul everz, deberigstion transeused.
A. STOKSINE.
Hong Kong. Ist December, 1973,
THE
Manager.
AMERICAN EXPRESS COMPANY,
INC.
Bead Office: 65, Broadway, New York.
Reorganised October 25, 1929, under
Capital
special charter of The National Gov. ernment as KG
Surplus
INTERNATIONAL EXCHANGE
BANK.
..$25,000,000.00
Bubscribed Capitai
Paid-Up Capital $26,710,200.00
Reserve Fonda ......$ 8,820,503.81
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 ellents special facilities for domestic and foreign banking and exchanges.
Our
Reserves
Autorkam Antwo Athang
سامعة
.U.S.$6,000,000 ....U.S.$1,572,454 .U.5.$1,208,209
BRANCHES:-
Get
Ci Havana Hamburg Hatre Interlaken
Berlin
Barris
Bothy
Jerukiam
Besla
Loodan
Buzanne Alzne
LIT Arpool Lucerne Lega
Caire
Olila
Colomb Constantinople Copenhagen Edinburgh
Morence
LA For
Nico Hispare Pir Parle
Penant Peking Palermo Bollardare Roma
Bambool
Shanghai Boushibok
Singapore
Karseillas
St. Morita
Moals Carle
Manila
Tracisin Vienna
Malah
V Yokohama Zurtsh
Mantrops Kilan Branches of American Express
We also handle the issue of Bonds Company in Principal cities of Unit- and other Publis Funds of the Chined States of America and Canada.
a Government both at home
abroad.
SHOU J. CHEN,
Manager.
Hong Kong, 5th March, 1931.
THE YOKOHAMA SPECIE BANK, LIMITED.
Established 1880.
Capital (fully paid-up) Yen 100,000,000 Boserye Fund
.Yen 116,200,000
Head OMee:-YOKOHAMA
Brinches and 'Agenelen at?
Alexandriä
Batavia
Berlia
Bombay
Calcutta
Canton
Nagasaki
Nagoya Newchwang
New York
Daaka Paris
Papink
Changchua
(Balny) Rangoon Fention (Mukden) Rio Hambary
Hankoy
Harbia
Hoar Kong Honolulu
Xaf Yuen
Karachi
Lobe
¡Los Angeles
Manila
Janeiro de San Francisco Seattle
Semarang Shangha Shimonocak!
Blugapore
Bourabaya
Sydney
Tientaln Tokyo Tringtau Interest allowed on Current Ao- соідо
Deposits received for fred periode st rabo to be obtained on application,
H. MORI
2- Manager. Mone Kong, 11th September, 1821
All classes of Commercial Banking Transactions undertaken.
Personel Investment accounts handled
The Company offers to intending Travellers the use of its “Travelers Choques" and Letters of Credit and, in addition, the world-wide services of its thoroughly equipped Travel De- partment.
E. W. DUGGAN,
Manager.
Quinhon Taurano Vinh
Every description of Banking and Exchange Bualnoas transactod.
Interest allowed on Current Accounts and Fixed Deposits according to ar
Safe Deposit Boxes to let.. Travellers' cheques Issued.
A. BONNAUD,
- Manager.
rangements.
5, Quonn's Road Central, French Bank Building. Hong Kong, 1st Novembor, 1981.
THE NATIONAL CITY BANK OF NEW YORK.
HEAD OFFICE: 55, Wall Strest, New York.
Capital, Surplus and
WEDNESDAY, DECEMBER 9, 1931.
creditor to debtor has come, sud- denly, both masked and accelerat- ed by the war. Tariff policies,
by them as great aids to national
Commerce and in
Finance
REPORT OF BRITISH NATIONAL COMMITTEE OF INTERNATIONAL CHAMBER OF COMMERCE
The document which is dated ments 16th September, 1931, reads follows:-
as
in
BUSINESS IN CHINA' TO-DAY.
Shanghai, September, 1991. The following extract is taken
progress, have become high tariff from the London Chamber of Com- policies regardless of the obliga- morce Journal of November, 1931. tions imposed by the change ...of To write month after month re- position from that of debtor to that ports such as those that musi jof great creditor.
necessarily be coming from China, Creditor Nations Fall to Recognise
is na depressing as it must be to Their Duty.
Wrecking the World. 10. The inconsistency
of Customs.
9. The creditor nations are fail-rend them but if the reports are to be worth anything, they must re- ing to recognise the duty which Hes upon the creditor of not pre-present things as they are, and not venting the debtor from paying. as one would wish them--to be. Great exporting and creditor na- There is no sign of improvement, tions are not realising the truth if a survey is taken of Ching to- either on long term or on that they cannot sell unless they
It is impossible to do busi- short term. High customs tariffs support the world market, either day. have interposed a most serious as buyers or as permanent inves-ness on a major scale in prosent
For a great creditor nation conditions. obstacle to the discharge of these tors.
two
The Customs. "1. In July last, on the return debts through the transfer of in the world market the
As indicated in previous letters, of the British Delegation from the goods, while the attempt to dis- policies of selling freely and of
the International charge them by these means has refusing to buy are incompatible. the Canton Government has seized into Persistence in these two opposed the revenues of the Customs at all Congress of
trade forced international Chamber
of Commerce held
Their dis- policies is bringng about a state ports within its jurisdiction. This artificial channels. Washington, where the economic charge by short term loan has of affairs destructive of the fabric does not immediately affect foreign bondholders who are interested in loans secured crisis of the world was the chief introduced financial instability in-of world trade.
upon the Chinese a general re-asmuch as the risk of sudden with-
The Canton authorities topic of discussion,
drawal of short term moneys is n
a have no desire to estrange the for- port was given to the British Na-constant potential source of ex-these policies has resulted in
The new creditor clash of two irresistible forces. leign Powers; and they are under- tional Committee of the Chamber jchange crises.
be setting aside that und a Sub-Committee was appoint-nations have not consistently main-Rich and energetic sections of the stood to
tained a policy of long term for human race have Inflicted great in- portion of Customs revenue which ed to report in more detail.
sufficient jury on the fabric of world trade is earmarked for the service of for- in eign investment
But they resolutely The economic crisis of the world volume or with sufficient persis-without their people understand eign loans. and Great Britain has developed tence to offeet their unwillingnessing that they are wrecking the refuse to find the money to meet world and that in wrecking the domestic loans also secured on the Customa rovenue. They argue. so rapidly that the Sub-Committee to be paid in goods or services.
world they wreck themselves. Abnormal Demand for Gold. believe the British National Com-
with some justice, that if they re- 6. In consequence of the inaum-
mitted this money to Nanking. mittee will be glad to be informed ciency of the methods of discharge
11. Creditor nations must ac. they have no guarantee that it without delay what their Sub-of International debta by Committee consider to be the main transfer and receipt of goods, or cept an adverse balance of trade as would not be used in the purchase (by foreign investment, it has been a corollary and complement to of war material which would be causes and will wish them to de- necessary to transfer gold. This their wealth or must alternatively ultimately directed against them. an even flow of per. The Canton Government has not fine also the steps which in their abnormal demand for gold has maintain
Until the ingenuous belief in the Nan- opinion Great Britain should take raised its price and, as is well manent investment abroad.
king Government that is held by. is recognised there known, a rise in the price of gold this to protect her own
expresses itself by a fall in the every prospect of prolonged do- some of the foreign governments who are still negotiating about unemployment pression, increased economic position and to start bet price of all other commodities.
the surrender of extra-territorial Maldistribution of Gold. {and unbalanced budgets. These ter conditions in world trade.
lat onte
in the hope that they will pubitely
the
What Creditor Nations Must
4 Recognise.
diminished and unemployment In- creased.
7. The present maldistribution factors have already threatened rights. 2. The report which follows has
of gold is, therefore, directly the stability of Great Britain, boen drawn up by the Sub-Com-caused by the desire of the credi- Austria, Germany and other na mittee with that object in view tor nations to be paid for their tions.
on their
Causes of Calamitous Fall in and the Chairman of the British exports and for intorest
Prices. at the
Case of Britain. 12. The National Committee, Lord Luke, is international loans, while
same time these same creditor na-
uneven expansion in eirculating it to the constituentations refuse to accept payments in productive capacity and the uneven
13. In Great Britain, in parti- Undivided Proûts..U.B.$226,087,8yg of the British National Committee goods or services, or to maintain distribution of gold stocks, refer- cular, the direct and indirect caused the effects of the fall in prices has their volume of foreign Invest-red to above, have
calamitous fall in wholesale prices ments at an adequate level.
been s serious reduction In the Sudden Change from Creditor to which has characterised the world volume of British invisible ex- depression. This fall in prices 8. In some cases the desire for has in turn led to a dis-equilibrium ports; that is of payments of ship- ping freights, banking, insurance future between the costs of manufactur- and other services, and in the tangible guarantees for 3. Daring the post-war years security has coloured the outlook ed goods and the costs of primary yield of investments abroad. there has been a gradual upsetting on international affairs in the post commodities. The great world ex-
financial equili-war period to the detriment of change between these two classes Coupled with the diminution in the volume of British exports, this of economic and
the general economic situation. of goods has been interrupted so brium by-
In other cases the change from that all trading activity hus (Continued on Page 11.)
CHILE
Branches in:
PHILIPPINE
ISLANDS
ARGENTINE LONDON
BELGIUM
MEXICO
BRAZIL
PANAMA
PERU
CHINA
COLOMBIA ·
CUBA
PORTO RICO
DOMINICAN
STRAITS
REPUBLIC
INDIA
ITALY
JAPAN
SETTLEMENTS URUGUAY VENEZUELA
Commercial and Travellers' Leitora of Credit, Travellers' Cheques, 'Billi of Exchange and Cable Transfers
endorse it.
Faciers Upsetting Economic and Financial Equilibrium,
(a) An uneven expansion in pro
bought and sold. Current account (b) and Bavings Bank accounts opened and Fixed Deposita in local and for
at rates that eign currencies taken
duction capacity agricul- tural, mining and industrial; The existence of international debta;
may be ascertained on application to (e) The post-war policy of high
the Hank.
customs tariffs; and
We are also able to offer our Cas. tomers the services of the Branches (d) The
of the International Banking Corpora tion in San Francisco and Spain and also of The National City Bank of Now York (France), BA in Parla and Nico.
uneven distribution of
gold stocks.
Over-Supply.
4. During the war, the
dig.
F. McD. COURTNEY, turbance of normal productive Manager activity in the belligerent nations
Hong Kong, June 16, 1981,
led to an abnormal development of production in neutral countries. |
THE BANK OF TAIWAN, LTD. After the war, the restoration of
(TAIWAN GINEO.)
HEAD OFFICE:-Taipeh, Formoss.
Incorporated by Special Imperial Charter, 1899.
Dentral Bank im Poezmono.
the impaired capacity, combined with the maintenance and further! extension of the New productive;
has led to an over. capacity.
when supply of many products, that supply is related to the de-
Bank-Noten sasued Avirage unovas M.Tan, 18,000,000 mand.
NHAKCHES AND AGENCIES :
JATAN:-Tokyo, Yokohama, Kaba, Danka. FORMOSA 1-Čiran, Kagli Karac Kalang.
Makong, Nanie, Bhachin Taloku, Than Takao, Tamani, Toen, Hello, Talso OKINA 1-Shanghal, makow, Amry,
Foookow.
Trade Forced Into Artificial Channels.
5. International debts must be OTHERS-Hang Long Bingapore, May discharged by the transfer of
Bwelow, Danton
Bew York Dairen,
Balaria Bombay Calocita
London
LONDON BANKERS ;
goods, or services, or gold, or by
The London Cously Wasimningsor and Puer's Bank. balancing international invest-
The Bank hos Correspondents in all the peladasi Comertal Canime ihroughout the world.
XAGU..
1 KY LA
KONG KONG BRAMON,
De Vuz Bonë Cantril. Hong Kong Ish Janosey, 1996.
KALA.
THE BANK OF EAST ASIA, LTD.
Established 1918.
HEAD OFFICE:
10, Des Voeux Road, Central.
... HONG KONG
Capital and Burplus .....
Total Resources .........
THE MERCANTILE BANK OF
INDIA, LTD.
HEAD OFFICE:
15, Grasskazok Bleest, London, 2.0.1 Authorised. Capftai
.£3,000,000 1,800,000
Subscribed Capital Paid-up Capital - 1,050,000 Reserve Fund and Rest 1,666,845 BANKERS;
The Bank of England & Midland Bank, 144.
HRAMONER:
Kaidy
J
Bangkok
Ipok
New York
Batavia
Bombay
Xarack
Panab Fork Louis
over HL.$ 8,000,000.00 .................. over H.$30,000,000.00
Calsalle flators Dalbi Chila
Xola Bharo
Kuala Krai
Kuala Xiple
Kuala Lumpur
Flowsk
Kuantan (Pahang, Anspre Maden
Barsbaya,
•
Every description of Banking and Exchange business transacted.
Current and Fixed Deposit Accounts in local and for aign currencies opened for cllants.
Bavings Account and Bafe Deposit Boxes, Branches and Agencies all over the world.
KAN TONG PO,
Chief Manager.
Manzone! thangal
Ginsta
HONG KONG BRANCH,
Brary desorption of Banking Bad Rxchange bad- ness transscled
Travellara Chaynes Innised,''
Trustee and Exeentorships under- taken.
GINTEREST | Mlowed on reset out and Maad: Deposite, mi Balog thað, may be severjained on application.
VŃCZİL, SANDES:
3. Queen's Road Central,
Hing Em 2015 April, 2006.
Manager.
Debtor.
It need never be replaced,
this Lifetime gift
Skrip
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Ú. A. SHEAFFER. PEN COMPANY- PORT MARION, IOWA, USA.
klo pangita timu moj
THE SUN
COMPANY, LTD.
Sole Distributors:
The new matched Three piece Balanced Set, including Golf and Handbag Pencil.
Identify the
Lifetimi pen
Lifetime dethron with bases of Gothaunt, Beitde
jan onze, Izalism
crystal glass and whzzakažde
Radie,