BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Imond and Fuky Pullup srammen 15,000,000 Emerys Funda 1--
. # 6,500,000
Perling
------- $110,000.00)
Baners Liability of Proprietors... 330,000,000
HEAD OPTION: HONG KONG,
BOLED OF DIRECTORS |---
Nam, Mr. J. J. Pretion.
Chairman.
T. B. Pro, IM.
.4. 1. Jeff, Kay.
Depky Okairan.
J. Plummer, Bay,
& EL Compton, Beg. T. H. K. Sw, Zag.
Hon. Mr. C. 6, 5. Mackie, ž. P. Warren, Bag
#.. Miskia, Mag.
ANOT
BATUKOK
MATAVIA
BOMBAY
CALCUTTA
CANTON
CHIFOO OGLAMBO
DARREN
POOCHÓW
BALPHONO
HAMBURG
MANKOW
BARDIN
HOKOKEW
HoHo
JOHOES
RODE
KOWLOON
F. M. Graybean, Eng.
Chiat Hanger,
BEANCHORS
KUALA LUMPUR
LONDON
LIONE
MALACCA
MANILA
MUAB (Johor)
MUSUHN
NEW YORK
PLIPINO
PENANO
KANGOON
SATOON
HAN FRANCISCO
BIANOHAR
BINDAPOBE
BUNDEL PATANI
TIENTSIN
TOKYO
THINGTAO YOKOHAMA
Currack Ascounds opened in Local Currency and Fixed Deposita Papalead for our fine or skorime parfois) in Looal Oursney and Sweeting an terms which will be quoted de sypiŝcation. Hong Kong, 27th February, 1932.
HONG KONG SAVINGS BANK.
The Bugisses of the above Bank is conducit by the HONG KONG AND HITAMOTAI DANK RKG CORPORATION. Be're may be obtained
application.
POR THE HONOLONG AND SHANGHAI BANKING CORPORATION,
V. M. GRAPETAK,
Chin Kanager.
Hong Kong, zadła Pebruary, 1912.
THE BANK OF CANTON, LTD.
Established 1912.
Head Onco-Hong Kong. Autodeal Captial (ILE. Currency)
Pull-Up Up
Manners Pand m
ВПАКОВКА-
$11,000,000 0,008,000 1,200,000
Onion, Shanghai, Hankow, Blow, Bangkok, New York and Han Francisco,
LONDON BANKRES The Lloyd's Bank,
called.
CORRESPONDENTS
En ! prinol pal cities of the #celi. Frogs and banking boeroes of
every desociation branched.
Bale Depot Bowes (vacious sinas) si u youris
everal of from 45 to 345.
LOOK POONG SHAN,
Chief Manager.
Reorganised October 28, 1928, under
apecial charter of The National Gov-
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter, 1853.
HEAD OFFICE: LONDON.
Paid-up Capital Reserve Fund
Reserve Liability of Pro-
prietors
THE CHINA "MAIL.
THE HO HONG BANK, LTD.
(Established 1017.)
HEAD OFFICE:-BINGAPORE Bor Arr Bring): 14, Quan Thần là
Authorized Capital Straits $30,000,000 Issued Capital ....
8,000,000 Paid-up Capital
4,000,000
Reserve Liabilitie
of Shareholders Surplus
H
24
4,000,000
2,687,000
Branches, Agencies and CorreaPOR .£2,000,000 | dents in the principal cities of the ..$4,000,000 world.
Every description of Banking and .£3,000,000 Exchange 'business transacted.
TAN ENG HOOL,
Agencies and Branches:
ALOS BIAN
AMBITHAN
DANOZOL
~BATIVIA
BOMBAY
CALCUTTA
CANTON CLAWNPORN GEBU
COLONDO
DAIREN
DELE
HAIPHONG
HAMBUBO
HANKOW
HARDIN
HDNG TUNG
KUCHING
MADRAS
MANILA
KEDAN
NEW YORK
PEPINO (Peking) PENANG
BANGOON
SAIGON
REMAMANO AKBENDAN
BHANGHAI
GINO POSK
RITIA WAN
BOURABAYA
TAIPING
TIENTAIS
TOX YO
Manager
THE NATIONAL CITY BANK, OF NEW YORK.
HEAD OFFICE: 55, Wall Street, NEW YORK.
Cavital, Surplus and
Undivided Proâts U.S.$225,347,460.11
Branches in:
and
Commerce
Finance
SECRET RESERVES
SUGGESTED AMENDMENT OF COMPANY LAW.
FRIDAY, MARCH 4, 1932.
THE POSITION IN THE WORLD MOTOR – CAR INDUSTRY
The decline in the export of dustries, and it is surprising that lorries and 'buses appears relative- its spokesmen have not made more ly more severe than that of private determined efforts to Induce their |cars, but the experience of all pro-Government to change front, and ducing countries is similar. Bri-give a lead in the direction of re- tish exports having fallen less than duced tariffs. Hitherto, as regards those of her competitors.
motor use, America has been an The position of the world motor example of reasonable motor taxa- industry is certainly an object lesson tions and regulations. But from Addressing the Incorporated Acceived or brought to credit during on the causes of the present world current reports it would ap- countants' Dist. et Society of Swan- the period.
As regards private pear depression.
that under the stress Legislative Action. sea and South West Wales, Mr.
сага, it has been proved beyond of the present depression Richard A. Witty, F.S.A.A., Bum. Mr. Witty supported the views off doubt that in every country and these are in jeopardy. In Ameri- marised a number of specific sug- Mr. Henry Morgan, the president of amongst every class, the desire to ca, there are now to be found gen- geations which have been made the Society of Incorporated Ac-possess individual transportation is eral revenue purposes and of the during the past two years for the countants and Auditors, that secret widespread. Further, it is a desire imposition of restrictive regulations amendment of Company Law. He reserves necessitated incorrect ac-to achieve which, people generally on road transport with a view to
He thought, however, that} are prepared to forego many a helping the railroads. reminded his hearers, however, that counts. many of those proposals were con- the matter was one for legislative ternative economic satisfactions.
Unless advantage is taken of this than for voluntary This desire is certainly not weaker year's election in the United States sidered in detail by the last Com-action; rather pany Law Amendment Committee, action by the accountancy profes- now than in 1928 and 1929, and yet by the leaders of the automobile in- which came to the conclusion that slon.
the non-manufacturing countries dustry to make themselves political- legislation directed against some of It should, however, be possible to are taking less than one-third of the ly effective, a prolonged setback the so-called abuses was not de-draft a clause insisting (1) that cars they took in those years; not would seem to be in store for the sirable,
every reserve and every credit in enough. in fact, to maintain their world motor Industry. Dealing with the question of the the nature of a reserve should be existing number of cars in being,they do, little benefit is likely to be
disclosed as such on the face of the allowing for normal wastage and re-reaped during 1932. profit and loss account, Mr. Witty balance-sheet, (2) that whore aplacement. In addition to the new weeks of the New Year pass, it ap said that the absence of any pro-liability or contingent liability was difficulties would-be car owners and pears more and more certain that vision as to its contents In the
not definitely ascertainable and was in buying automobiles, from con- whole-hearted Commercial and Travellers' Letters Companies Act had led to much included in the balance-sheet at a tracted purchasing of Credits, Travellers Cheques, Billa heart searching by the accountancy covering figure. the facts should be business, which is already difficult, made to await the outcome of the power, this economic reconstruction are to be of Exchange and Cable Transfers bought and sold.
profession. He maintained that the disclosed in the report of the direc-is rendered much more so by the impending political struggles in and Savings Bank accounts opened ordinary commercial interpretation tors, and (3) that every balance-imposition of Import dutica. quotas America, France and Germany. In Deposits in local and for- should be placed on the term "profit sheet should show the value of each and exchange controls, and by bur- these circumstances, the prospects elga currencies taken at rates that and loss account:" that it should may be ascertained on application to
fixed asset as at the date of the dening the user of motor cars with for the motor industry for 1932 the Bank.
show under suitable headings the
previous balance-sheet with the regulations and heavy licence and cannot be painted in bright colours. amount of the depreciation, written petrol duties. As regards, com- The British Industry must continue
ARGENTINE
LONDON
MEXICO PANAMA PERU
PHILIPPINE ISLANDS
ILOILO
KARACHI
TONGRAH (Bhukas)
BELGIUM
KLANO
TSINOTAÐ
BRAZIL
ROBK
YOKOHAMA
KUALA KANGSAR
ZAMBOANGA
CHILE
KOALA LUMPUR
CHINA
Foreign Exchange and Banking business transacted.
General
COLOMBIA CUBA
DOMINICAN REPUBLIC
PORTO RICO
STRAITS
INDIA ITALY JAPAN
SETTLEMENTS URUGUAY
VENEZUELA
Current Accounts opened and Fix-
ed Deposite received for one year or shorter perioda at rates which will be quoted on application.
J. STUART,
Manager. Hong Kong, August 17, 1931.
NEDERLANDSCHE HANDEL-
MAATSCHAPPIJ, N.V. ·
(NETHERLANDS TRADING BODIEST)
BANKEBA.
Established 18,
Hong Kour foe;-11, Queen's Bond Central
Aalboriand Capital ..................... Guildere 150,000,000. Paid-Up Capital Oalidere 90,000,000. Baser Pusdom. Ogildern 10,315,000-
Head (Bo-AMSTERDAM". Extern Hand Omg:-BATAVIA. Branches-Dendermain, Bandung".
Borubay,
Caloutt Cheribo, Djember
Makassar, Medan," Palecsben ge Falca Kings, Pasang, Bengoon, Botterdam" Femarang“, Shanghai, Bingapore, Boern bala, Boerakarta (Bala), Toyal, Tiktjap and Wallavradan”.
* Thma offree have Bata Deposit Boxes to Let.
LONDON BANKKIA :—
SATIONAL PROVINCIAL BANK LTD.
Correspondents all over the world. Banking Busi» dea of every description frananosed.
A. STOKKISE.
Hong Kong, ist Theowinber, 1991,
THE
Manager.
AMERICAN EXPRESS COMPANY.
Beserves
Current accounts
Even if
As the first
efforte at world
as little
We are also able to offer our Cus-various revenue debits and credits tomers the services of the Branches in such a way that the shareholders off during the period under review. mercial vehicles, the position is in the dour struggle of the past twelve of the International Banking Car could form a reasonable judgment poration in Spain and also of The
In conclusion, Mr. Witty suggest-some ways more striking when the months, seeking to lose National City Bank of New York)
as to the actual results for the ed that company promoters should vast areas of the world waiting to ground as possible, and being pre- (France), S.A., in Paris and Nice.
period covered by the accounts.
He condemned the system of in the same
be subjected to a disciplinary code be opened up cheaply by motor pared for any improvement which R. M. MCLAY,
way as, professional transport are considered.
may follow an international settle- showing a single credit item cover-men, and that, if necessary, a statu- Manager.
These policies are, no doubt, to ment at the end of this year. Hong Kong, March 1, 1932.
ing trading profit, if any, and all tory register of promoters should be some extent a repercussion of the Engineering. other extraneous income either recreated with power to shareholders high tariff policy pursued by the to lodge complaints which, if sub- United States since the war. The stantiated, would lead to the pro- American automobile Industry moter concerned being struck off claims a leading place amongst tion of I m.p.h.a. was obtained. The speed of 45 m.p.h. with an accelera- the roll.
America's productive and export in-experimental train will shortly be
THE BANK OF TAIWAN, LTD. (TAIWAN GINKO.)
HEAD OFFICE:-Taipeh, Formosa.
Incorporated by Special Imperial Charter, 1899.
Central Dank in Formos,
BRANCHER AND AGENCIES: JAPAN-Toyko, Yokoliams, Kahn, Oni
FORMOSA :-Gla Kogi. Karenko, Erlang.
Makong sala. Binahiku, Talabe, Tan, Credits, 4 months' Takao. Tammal, Toeu, Heita. Tailo CHINA-Shanghai, Hankow, Amoy. Poochow
Bwatow, Canton. OTHERS-Hong King Blagspere, Boerabaya, Bomarang, Batavia, Bombay, London, New Tork, Dares,
LANDON BANKERS :
Barclays Bank, Ltd., Lloyds Bank, Ltd., Midland Bank, Ltd.. Westrainster Bank, ti.
The Bank has Correspondants in all the pelocipof) Commercial Contros throughout the world. K. NAOUDA,
Nanoget.
redits,
ELECTRIFICATION OF RAILWAYS
In 1931, the jubilee year at elec-will be eighteen rectifier sub-trol and regenerative trie traction, there were three out-stations controlled from standing events in Great Britain. Bridges.
EXCHANGES.
TO-DAY'S QUOTATIONS.
On London-
Bent-bots insand Average amount on. 15,600,000 Bank, wire
1/4 13/16 Bank, on demand ... Bank, 4 months' sight 1/4 15/16
1/43/4
A SURVEY OF RECENT PROGRESS.
sight
|Documentary,
1/6 4
months sight
1/6%
On Paris-
On demand
615
4
months'
sight
670
Un Berlin---
On demand
Nom
Un New York-~- On demand
24% Credita, 60 days' sight 25%
Un Bombay- Wire
022
On demand
0212
On CaleattS——.
Wire
92%
On demand
922
On Singapore—
On demand
604
On Manila
On demand
48%
On Shanghai-
Dollar
Dollar
Un Yokohamama
On demand
Sovereigns (Bank's
buying rate)
1/5/4
Silver (per oz.)
19%
Bar Silver in Hong
Kong
Nom.
Copper Cash
Nom.
Copper Cents ....... Rate of Native In-
terest
1% prem.
8% p.a. 29%% dis.
INC.
THE BANK OF CHINA. 行銀國中
Head Office:-65, Broadway, New York.
HONG KONG BRANCH:
Capital
ernment as an
Surplus
. U.8.$6,000,000 .U.S.$1,672,454 .U.5.$1,909,209
Des Virus Road Contes!. Hong Kong December 24, 1931,
INTERNATIONAL EXCHANGE
BANK.
BRANCHES---
Subscribed Capital
- - - - - - $25,000,000.00
1
Amalaeda Antwerp Alkena
Седов Glasge Havana
Kios
Naplos
Piran
Reserve Funds
.$ 8,820,508.82
Barlin
Bla$1k
Hamburg Havre Intaraban
Paris
Tetang
Faking
Bombay
Pain
Bremen
Brussels
Tido London
Botterdam Boma
Buenos Aires
Cara
Calotta CLADE
Liverpool Lugare Lugano
Marele
Paid-Up Capital ... ..$24,710,200,00
HEAD OFFICE: SHANGHAL
HONG KONG BRANCH:
4. Queen's Road Central,
Colombo
Jermalsen
Cocinatinopla Monte Carlo
Coprskagen
Manila
Painburgh Kunick Sorce
Menstruuz
Hambour Bhanghal Bouthampton
B. Martha
Tibatala
Tlance
Yunlo
Yokohama Zurlob
Owing to our numerons branches in China and large connections in the important commercial contres of the world, we are able to extend to our ellents special facilities for domestic and foreign banking and exchanges.
We also handle the Lawue of Bonda and other Public Funds of the Chin- ese Government both at home andStates of America and Canada. abroad.
Branches of American Express Com- pany in Principal cities of United
4
SHOU J. CHEN,
All classes of Commercial Banking Manager. Transactions undertaken.
Hong Kong, 5th March, 1981.
THE YOKOHAMA SPECIE BANK, LIMITED.
Established 1880.
Personal investment handled.
sooounts
The Company offers to intending Travellers the use of its "Travellers Cheques" and Letters of Credit and,
in addition, the world-wide services
Department.
Capital (folly paid-up) Yen 100,000,000 of thoroughly squipped Travel
|
Reserve Fund........Yen 110,200,000
Head Office>--TOKOKAMA.
Branches and Agencies at:
Alexandria
Bombay
Bateria
Berlin
Qalentia
Gantom
Changelina
Dairen (Dalay)
Nagasaki
Nagoya Newchwang
Now York Ouka Paris
Pelping Bangosa Pongtion (Mukden) Rio de Janeiro Hamburg
Kobe
San Francisco
Beattle Shanghai Chimono oi Singapore
Bydsey
Karachi
Londin
*Los Anguiss
Manila
Tokyo
allowed on Current
· Deponitur resalved for: fædd -
H`MORL
Hong Kong, Lith
E. W. DUGGAN,
Manager.
PHOTO-SUPPLIES-
Kodaks and Cameras,
Films, Plates and Papers, etc. Developing, Printing and Enlarging.
ZIESS and BUSCH FIELD GLASSES.
Price Moderate.
A Trial Order is Solicited.
A. SEK & CO.
Tel No. 23459. 28A, Des Voeux Road, C. Hong Kong
ob Printing
PLASONABLE
E PRICES
THE NEWOPAVER DITERPRISE · LVO, ENZIA MAIL BLING. • KA SPYNDIAN ET.
THE BANK OF EAST ASIA, LTD.
Established 1915. ̧,
HEAD OFFICE:
Par. 4% prem.
734
Chinese Sub. Coin Hong Kong Sub. Coin Par
LONDON EXCHANGES
Paris,
New York
Montreal
Brussala
Rugby, Yesterday.
888/ 3.49% 8.93 25.07
Geneva
18.07
Amsterdam
8.80
Milan
07%
Berlin
14.70
Stockholm
18.16
Copenhagen
18.15
Oslo Vienna Pargue
18%
22
Helsingfors
117 224
Madrid
evar HS 8,000,000.00
Lisbon
Athens
Bucharest
45% 1093/ 207.8214 682
Bio
Buenos Aires Montevideo Bombay
Shanghai
10, Des Voeux Road, Conteni. HONG KONG
Capital and Surplus Total ResourceR
over EL.$80,000,000.00. Every description of Banking and Exchange business transacted.
Current and Fixed Depoat Accounts in local and for- eign='marsenalas opened for allenta.
Savings Account and Bafe Deposit Boxes. Branches and" "'Agomelas all over the world.
KAN TONG PO,
Hong Kong.
Yokohama
Chief ManagIE.
Silver Spa Sliver Bo
4 1/16
40% 80%
1/8 5/32 1/11 1/16 1/5 8/82 1/10-1 193
Wireless Service.
KING'S THEATRE
Commencing SUN, 6th Mar.
put into service between Dublin, Bray, and Greystones, but only time can test the battery "life" on which its utility depends, Two additional traine are on order; each motor coach will be fitted with two 200-h.p. 500-volt d.c. traction motors arranged for multiple-unit con- braking. Three Charging will be carried out auto- matically at two 500-kw. rectifier On April 24 the Weir Committeo re- The Underground (Piccadilly substations, Manchester Guar- ported in favour of electrifying all line) extension from Finsbury Park dian. the important lines in the country. to Cockfosters (71⁄2 miles) will be On May 11 the first passenger ser- opened to Arnos Grove in May and vice on the 1,500-volt d.e. system throughout a few months later. In was inaugurated between Manches- June the new lines from Hammer- ter and Altrincham. In December smith to Northfields (4%1⁄2 miles) the London and North-Eastern Rail-[will be opened as far as Acton way decided to put an eil-electric Town, and eventually a through rail-car into regular service in the service will run from Piccadilly Newcastle area.
Circus to Hounslow via Northfields, The Weir Committee considered aand to South Harrow via Acton comprehensive scheme essential to Town. Nearly 300 mew coaches avoid the handicap of dual working, have been ordered, and speeds will The total cost (spread over twenty be increased from 20 to 24 m.p.h. years) was estimated at £261,000,-Thirteen substations are being re- 000 for the main lines and £45,000,-{equipped with
as recti- 1000 for the suburban lines. The fiers.
resulting economics were calculat In the Autumn the Metropolitan {ed to give returns of 2 per cent. and branch from Wembley Park to Stan- 8 per cent, respectively after the in-more will be opened;. 61 new terest charges had been met. About coaches will deal with increasing |6,000,000,000 units of electricity an- traffic on the Harrow line, which Work in hand nually would be provided by the has been widened. national "grid," necessitating addi- on the London Midland and Scot- tional plant coating £80,000,000, tish Railway (L. T. and 8, section), and the high load factor would help over which District trains run to to lower the cont of current Barking, will enable the electric throughout the country. The econo-service to be extended to Upminster mic crisis has unfortunately ren-(73⁄4 miles), and for the Euston- dered the Weir proposals impractic-Watford line 81 new coaches are on able for the present.
mercury
crder; on both sections colour-light signalling ls being introduced.
Oil-Electric Traction.
The Altrincham Line. ·
The electrification of the Man- chester-Altrincham line
(nine Owing to the difficulty of, carrY- miles) has increased the number ofjing the source of power on the trains daily from 67 to 100 in each train, oil-electric traction, as its direction, and the expresses are foremost advocates admit, can only among the fastest in Europe. Each be an adjunct to the electrification motor coach has a total power of of all Hanes with a fairly high traffic 1,812 h.p., divided among four of density. Much will depend on the the biggest axle-mounted motors in success of the Balerni and other] the country. Substations at Old processes of obtaining oil from coal, Trafford and Timperley convert the but on lightly loaded brancher oil- |11,000-volba.c. supply to 1,500 volts, electric trains will be widely used,
weeks d.c. for the overhead conductors. A few
ago 4 rail-car
On the Southern main line elec-equipped with a 250-h.p. oll |tric trains will be running as far engine Was ов trial between
and as Three Bridges by March, and Newcastle
Durham and a: speed of · 64 m.p.h.
| before the end of the year the whole reached
of the sixty miles to Brighton on the :lovel. The engine and Worthing, including the Red-was coupled to a d.c. generator sup- |hill-Reigate, and Preston Park-Hove plying two traction motors geared sections will be in operation. Lonto the axles, the tractive effort [don and Brighton will be linked by being controlled ‹by: varying the |a ́ 15-minute service in each direc- génerator voltaga› through a field tion, composed of expresses and rheostat. Automatic acceleration | stopping trains alternately. Over and multiple-unit control are avail-
280 motor, coaches and trailers, able is pata
which can be driven from either Another experiment with an in- end to avoid shunting at terminals, dependent banlage unit was carri- will be used. Colour-light signall- et out at Dublin at the end of Nov- ing is being installed, Alternating ember on a two-coach train equip- current at 38,000 volts will; be sup- pad with alkaline storage hattarian piled from the grid at Croydon, of the low-resistance tarpe invented Three Bridges, and Portslade; there by Professor Drumm · An average,
A Lover by Day... At Night a Fiend
DR JEKYLL
NRHYDE
Whiche incomy
pecable set of “The Rosad
posed by cut of Lover 106
Fredric March
Miriam Hopkins Rose Hobart
A Genermanent Ghezze
~ADDED FRATURE-
NEUTRALS SACRIFICE
NI
PRESENT WAR HORROR
AT SHANGHAI
FUNERAL OF ABLE BEAMAN H. A. FRANCIS, AND 'ABLE SEAMAN H. G. PRIOR
ILMS, “BURFOLK” *Beitiah BeEZAZI
*International-tribuis: to:
of shelling at Shanghal.
'