LOX
BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Aetherland Capital
lmand and Fully Paid-upremaman 19,800,000 Becerra Fundez-
Fleeting
---------$68,800,000
☎ 4,500,000 $18,000.DEN
Biserve Liablilty of Proprietors ... 831,900,000
HEAD OFFICE, HONG KONG,
BAJÉ OF DIRECTORS: —
Mon. Mr. X, J. Paterson. Chairman,
T. 2. 06. Esq.
Deputy Chairman.
Hed. Mr. W. I. Ball,
2. E. Complex, Esq.
M. T. Jonaven, Man, 4. Miskin, Erz,'
AMOT
BANGIOK
BATAVIA
BOMALY
OLLOUTTA
CANTON
GEEFOO
COLOMBO
DAIBEN FOOCHOW JAIPHONG
HONOKEY
HAMBURG
HANKOW
HARDIN
ILOILO
JOBURN
Кови
(POM
KOWLOON
7. A. Flammer, Mag:
7. H. B. Shaw, Boq.
J. P. Waz, Big.
V. M. Grayburn, Eag
Chief Manag
BRANCHES-
KUALA LUMPUR
LONDON
&TONA
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
THE HO HONG BANK, LTD.
(BatabHaked 1917.) :
"HEAD OFFICE:SINGAPORE: Hong Kong Branch: '18, Queen's R&, G.
Authorised Capital. Straits $20,000,000 - Issued Capital
Incorporated by Royal Charter, 1858. Reserve Liabilities
HEAD OFFICE: LONDON.
Paid-up Capital
Resorve Fund
Reserve Liability of
Pro-
prietors
Paid-up Capital
of Shareholders. Eurplus .................
H
THE CHINA MAIL.
Commerce and Finance
8,000,000
4,000,000
4,000,000
1,687,000
THE WORKERS.
Branches, Agencies and Corrospek- .£3,000,000 seats in the principal cities of the
£3,000,000 world,
Evary description of Banking and ↑ £3,000,000 | Exchange business transacted.
TAN ENG HOOL
Agencies and Branches:
ALOR UTAR
ANFITUAR
BANGKOK BATAVIA BOMBAY DALCUTTA
CANTON DAWNPORE CEPU
COLOMBO DELRI
HAIPHONG
KUCHING
MADRAS
MANILA
NEDAN
NEW YORK,
PETING (Ping!
PENANG
Manager.
THE NATIONAL CITY BANK OF NEW YORK.
HEAD OFFICE: 55, Wall Street, NEW YORK.
Capital, Sarplus and
RANDOON
NATOON
SEMARANG
REHEMBAN
HAMBURG
SANDRAI
KLANKOW
HING PORE
MALACCA
BARBIN
HITIAWAN
MANILA
HONG KONO
SQUBADAYA
ILOILO
TAIPING
MUAB (Jshare!
(POH
TIENTAIN
КАРАСПЕ
TONOKAR (Bhuket)
KLANO
TRINGTAO
ROBE
YDROHAMA
BRAZIL
KUALA KANGSAR ZAMDA NA
KUALA LUMPUR
CHILE
CHINA
CUBA
MUKDEN
NEW YOBL
PRIPING
PENANG
RANGDON
HAIGON
SAN PRANCISCO
SHANGHAI
SINGAPORE
BOURABYA
SUNGRI PATAMI TIENTSIN
TOKYO
THINGTAO
TOKOHAMA
Current Aconuta opened in Local Currency and Pized Expoalie received for one your of shorter periods in. Loosi Currenty and Sterllog su semo which will be quated an applicatioa.
Hong Kong, 5th April, 1932.
HONG KONG SAVINGS BANK.
The Business of the shors Bans la conducted by the HONG KONG AND MULYOHAI BANK. ING CORPORATION. Ewe may be obtained in nypčiostion.
FOR THE HONGKONG AND BHANGHAI BANKING CORPORATION.
V. M. GRAYBURN,
Oldal Manager.
Hong Kong, 27th February, 1933.
THE BANK OF CANTON, LTD.
Established 1912.
Head Office:-Hong Kong,
Authorised Capital (I.K. Currency} ---#X1,000,000
Meserve Fund an
BRANOKES:-
DARE DOR EMO.CO
Canton, Bhanghel, Haskow, Selow. Bangkok, New York and San Francisco.
LONDON BANKERS |—
The Lloyd's Bank, Limited. CORRESPONDENTI
In el péincipal dilles of the World,
Foreign Exchangs and banking bominen
every description Ersassoted.
Deposit Boxas (various sinoa) 41 8 JAAFİY
math of hoa to trên
LOOK POONG SHAN,
Chief Hanager.
THE BANK OF CHINA.
行銀國中
Reorganised October 26, 1928, under
special charter of The National Gov-
ernment sa an
INTERNATIONAL EXCHANGE
Subscribed Capital.....$25,000,000.00
Branches in:-
ARGENTINE BELGIUM
LONDON
MEXICO PANAMA PERU PHILIPPINE ISLANDS
Purchasing Power Wrongly-Applied.
MR. RUNCIMAN'S VIEW.
Britain Command: The
SITUATION.
MONDAY,
WORLD TRADE
IN 1931.
Comparison of Chief Countries.
The Board of Trade Journal published on March 3, gives parti- culars of last year's trade of coun- tries which in 1929 represented; about 80 per cent. of the world total. The information relates to "We are now in command of the the aggregate value of the trade, Speaking at the annual meeting situation," declared Mr. Runciman, and not to the physical volume; It of the Westminster National Sav-the President of the Board of is, therefore, necessary in making ings Committee at Caxton Hall, Trade, at the annual dinner of the a comparison of the percentage! Sir Joalah Stamp, president of the Incorporated Association of Retail changes some allowance must be London Midland and Scottish Rail-Distributors, held at Grosvenor made for price alterations, which way and a director of the Bank of House, London.
will not have affected equally the England, said that the statistics of "We have given a lead to the trade of each of the countries, i the National Savings Movement world in currency sanity in aban-either as regards imports or as re- showed that the year 1931 had doning the idea that by a mono-gards exports.
Į
Undivided Profits U.S.$225,847,466.11 maintained a remarkable degree of poly of gold you can monopolise
progress, inasmuch as the yearly prosperity. Those two great coun- world, so far as available, show a The figures for the trade of the total of certificates sold was nearly tries which have succeeded in get decline in 1931, as compared with 13 millions in excess of the year ting great stores of gold are now 1930, of 26.3 per cent. In the value 1928-29.
having to pay the penalty of that of imports for home consumption The total income .of the classes exclusiveness, We are able to and of 27.5 per cent. in domestic from whom these certificates were show them that we can carry on exports, the corresponding figures, mainly drawn might be taken as without a gold basis,
comparing 1981 with 1929, being in the region of £1,800 million. "We have succeeded in putting 40.1 per cent. and 42.1 per cent. Between 1928 and 1931 there had sterling on such a sound footing These differences are doubtless been a fall in the cost of living, that it is rapidly becoming the due mainly to the different make- of over 10 per cent, and from 1929 envy of the world."
up of the totals, but it may be of 11 per cent. This meant that Referring to the recent appre-noted that the addition of a charge
Foreign Exchange and General COLOMBIA Banking business transacted.
Current Accounts spened and Fix,
ed Deposits received for one year of shorter periods at rates which will be quoted on application.
J. STUART,
Manager.
Hong Kong, 11th April, 1932.
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
INETHERLANDS TRADING BOCIZII) DANKENA
Established 189.
Rong Kong Omos-11, Queen's Road Central.
Autorland Capital ....................... Galidere 180,000,000. Paid-Up Capital
Guilders 80,620.000. Bessers Fuad
Guilders 40,018,000-
Head Office AMSTERDAM”. Eastern Seed OM00 1—BATAVIA.
Basdoung", Branches:-Bendj estasain,
Bombay, Oslousie, Cheriton, Djember Diol sheria. The Hague, deh, obe Maknaest, Medan, Palembang Peke longo, Pasang, Rangoon, Botterdam", Semarang, Shangkal, "Bluppare Soar bass, Boerakarta (Solo), Tegal, Tj/lat}ap and Welkovridan”.
• Thess ofhoes have Safu Depoeli Bazes to Lat.
LONDON BANKE19:-
NATIONAL PROVINCIAL BANK LTD.
Correspondeals all over the world. Banking Busi
of every description tractad.
A. STOKKINK,
Hong Kong, 1st December, 1981.
THE
Msanger.
AMERICAN EXPRESS COMPANY.
DOMINICAN
REPUBLIC
INDIA ITALY JAPAN
the Bank.
PORTO RICO
STRAITS
SETTLEMENTS URUGUAY
· VENEZUELA
We are also able to offer our Cus tomers the services of the Branches of the International Banking Cor- poration in Spain and also of The National City Bank of New York (France), S.A., in Paris and Nico. R. M. MCLAY,
Manager. Hong Kong, March 1, 1982.,
(TAIWAN GINKO.)
HEAD OFFICE:-Taipeh, Formos.
Incorporated by Special Imperia} Charter, 1899.
"OH YEAH?"
Dver
The poor-
APRIL 25, 1932.
COMING SHORTLY TO THE KING'S.
A wee bit of
Scotch...but simply
Delicious
JANET
GAYNOR
CHARLES
FARRELL
EL URENDIL
Muele by
GIORGI GERSHWIN
A FOX PICTURE
Directed by David Butler
Commercial and Travellers' Letters. of Credits, Travellers' Cheques, Bills the goods and services purchased ciation of sterling, Mr. Runciman in respect of insurance and freight of Exchange and Cable Transfert with their aggregate income could said: "I hope it will not be too to the cost of the goods when valu- bought and sold. Current accounts be obtained now for a much less rapid. Rapid movements are keed as importa would have the and Savings Bank accounts opened and Fixed Deposits in local and forum, and, even after allowing for the ly to be detrimental.
I would effect of lowering the proportion- eign currencies taken at rates that Ross by additional unemployment rather it were slower.
ate decline for imports compared MILLIONS GO UP IN SMOKE. may be ascertained on application to eas payments of the dole), there "We are gradually getting our with exports, if this charge. ware
was an amount of the order of at trade balance on a sound footing" comparatively fixed in terms of A good deal of money goes up in least £150 millions per annum of additional spending power in their
money while the average value of smoke every year in Canada, In the goods declined owing to price the calendar year 1930,
A total hands during the last two or three
changes..
amount of $85,671.786 represented years.
Import Changes.
the valua of the products Decrease In Purchasing Power.
One of the cruellest but widest-
On the import side the decline of the tobacco manufactur- Sir Josiah asked the question, selling publications
in aggregate value as compared ing industry of the Dominion, of recent how had this spending power in months is a small book bearing the with 1980 was substantially less in an increase of $19,946,071 in fact been used? He drew atten- above title. It consists of opinions the case of the United Kingdom' ten
years. Cigarettes account- tion to the fact that the total pur and predictions by prominent (16.6 per cent.) than the average ed for $49,885,866 of the 1980 THE BANK OF TAIWAN, LTD. chasing power of the country, statesmen, financial and business for all the countries specified in total. There were 5,086,448,000 measured in the volume of produc-leaders and economists which have the Journal (26.3 per cent.), and cigarettes made. Cut smoking to- tion, aa distinct from anything been sadly belled by subsequent only three countries Switzerland, bacco to the amount of 15,792,304 affected by prices, had fallen by 16 events. The following extracts Denmark and Sweden-had a pounds valued at $18,466,194 was per cent. since 1928 and 20 per are typical of its contents.
| smaller percentage decline.
next in the items of value and cent. since 1929.
"We in America to-day are near- On the export side, comparing cigars to the number of 197,898,000 One would have expected to find er to the final triumph
1931 with 1990, the United King-were third, valued at $10,024,186. Cutral Bank is Formosa,
that this decrease in purchasing poverty than ever before in the dom showed a large proportionate The balance of $7,346,040 was ac Bank-Notes issued Average amount ...Yen. 13,000,000 or exchanging power would have history of any land.
decline (81.8 per cent.) than any counted for by chewing and smok- BRANCHES AND AGENCIES: JAPAN:-Tojka, Yokohama, Kobe, Duks, been reflected in a decrease in im- house is vanishing from among us. of the countries included in the ing tobacco and snuff. FORMOSA-Giran, Hagi, Harunko, Ks, ports of
Makong, Nuas. Skinchiku, Taichu, Faless, these had actually risen since but given a chance to go forward India, British Malaya and the diane evidently have not the pre-.
consumable goods, but We have not yet reached the goal, Journal's table except British The present generation of Cana- Takso, Tammui, Tosa, Brito, Tallo, CHINA-Bhangbai, Hankow, Away, Foochow 1928 by 12 per cent and since 1929 with the policies of the last eight United States, and the measure of dilection for chewing tobacco that
Swatam, Danton, OTHERS-Ho Rooz. Blogspors. Sobeys, by 8.7 per cent.
years, and we shall soon with the the decline in the case of Canada their fathers had.
According to Bemarang, Batavia, Bombay, London, New Tork, Dairon.
This was a truly astonishing re-help of God be in sight of the day was practically equal to that in
the report just isaued by sult and showed that the transfer when poverty will be banished the case of the United Kingdom. the Canadian Government Bureau of producing power of 150 millions from this nation." Herbert Taking from one class of the community | Hoover on August 11, 1928.
gether and ports and exports to of Statistics, the quat Bureau chewing tobacco produced 远 to another had completely altered "A depression like 1920 and 1929, Denmark, with reductions of Canada in 1921 was 6,227,768 the directions in which the pur-1921 is clearly out of the question. 18.3 per cent. for imports and 22.2 pounds valued at $2,796,721, chasing power was used, and a We face a recession which will per cent. for exports, Is the only
later the output large part of the new resources of terminate in the Spring." country to show a decline of under was 4,287,285 pounds valued at the working class had been spent Harvard Economic Society, Novem-30 per cent. for both imports and $3.898,920, a decrease of 1,940,475
exports, while the United States pounds and $2,897,801. purchases from ber 30, 1929.
"Belleving that fundamental shows a decline excasding 50 per similar period the production of cent. for both imports and exports.enuff advanced from 678,739 pounds This was the central problem of conditions of the country the balance of trade ao far as it sound and that there is nothing was under our control. This in the business situation to war- volume of additional purchasing rant the destruction of values that power naturally also enhanced the has taken place on the Exchanges, ability of these classes to save during the past week, my son and money, and it was small wonder then I have for some days been pur that some 7 per cent. of it had chasing sound common stocks. found its way inte National Sav- John D. Rockefeller, Sr., October
30, 1929, ing Certificates.
"Never before has American busi-i
LONDON DANEERS:
Bulaga Banky Lid., Lloyds Bank, Lid, Midland Hank, Ltd., Westminster Bank, Ltd.
INC.
The Bank has Correspondenta in all the princips Commercial Contive throughout the world. K. NAGURA,
Head Offee:-65, Broadway, New York
Manage).
HONG KONG BRANCH:
2. De Vaux fload Central. Hong Kong. December 14, 1981.
Capita!
Surplus Reserves
U.S.$0,000,000 .U.S.31,572,454 ....U.S.41,908,209
BRANCHES 30-
BANK.
Paid-Up Capital
.$24,710,200.00
Reserve Funda
.$ 3,820,509.82
Amatardam Antwerp Athana
Beale
Berlia
Biarrit
Bombay
HEAD OFFICE: BHANGHAL
HONG KONG BRANCH:
4, Queen's Road Central
Owing to our numerous branches in China and large connections in the important 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 Bonds
Bewa
Glasgow Bamberg Bavra Interlaken Jerusalemo Lide London Liverpool LUDETER Lugana- LaRo Marsailles Constantinople Monte Carls
Bessels
Baamon Air Onim
Calusta Скорм
Colorabo
Copenhagen Edisburg's Florence Gyov
ما المميز
Munich Moniteux
Nice
Kapla
Piresu Paris Penana Paking Palamo Botterdam Boms
814bout
Shangbal Southampto Singapori
B1: Noriti
Flapuls
Vienna
Vom
Yokohama Surich
Branches of American Express Com-
Just Received.
YVERT ET TELLIER POSTAGE STAMP CATALOGUE
FOR
1932
At $6 Each.
GRACA & CO.,
in additional
abroad.
•
2
Bre
.
LONDON SILVER PRICES.
Advance Recorded.
London, Yesterday. Closing silver prices in London to-day were:
Spot
Apr. 22 Apr. 23 .17 16% Forward...17.1/16 16.15/16 At two o'clock this afternoon
Concluding, he said that the much-needed rise in prices which ness been as firmly entrenched for would redivide the national income prosperity as it is to-day. Steel's! In a way that would make business three biggest customers, the auto the London on New York cross possible once more might make the mobile, railroad and building in rate was quoted £1-G$8.741⁄4- task of the Savings Certificate dustries, seem to me to justify a workers rather more difficult than speculative era in Wall Street, in healthy outlook. This great
Ten, years
In the
with a value $789,878 to 1,008,738 pounds valued at $1,811,836. Cigarette smoking shows a sub- stantial increase in ten years. In 1921 the quantity produced was 2,603,971,000 priced at $31,118,848. in 1930 the output was 5,086,448,- 000 with a value of $49,835,366. Smoking tobacco increased from 12,880,521 pounds, with a value of $16(261,015 in 1921 to 19,010,687 pounds valued at $20,581,004 in 1980.
The comparative figures for cigars are 168,075,000 and $11,864,- 753 and 197,398,000 and $10,024,186. THE DOLLAR RISES.
In 1980 Canada's tobacco imports were valued at $7,048,898 and ex- The Hong Kong dollar advanced ports at $1,329,273 of which $1,159,- retain the ground that had been The same factories have the same market locally was quite lifeless. There are 122 establishments in wheels turning. Values are un- Silver rose 3/16tha in London, the tobacco manufacturing industry changed. Wealth is beyond the China and India buying, “
in Canada which gave employment quotations of Wall Street Wealth In New York, on a steady In the year under review to 8,455 is founded in the industries of the market, silver had risen ath.
The cities of Montreal nation, and while they are sound,
and Quebec are the principal cen- stocks may go up and stocks may go down but the nation will pros
tres of the industry. per."--Charles M. Schwab, Decem- ber 20, 1929:
it had been to keep up their figures, which stocks have crashed means
·
and other Public Funds of the Chin-pany in Principal cities of United Dealers in Postage Stamps, Religious but they must do their very best to nothing in the welfare of business.th on Saturday to 18. 2%d. The 193 was bought by the British Isles.
ee Government both at home and States of America and Canada.
abroad.
Goods, Pictorial Post Cards," Tors, etc.,
SHOU J. CHEN,
Manager.
All classes of Commercial Banking Transactions undertaken.
No. 10, WYNDHAM STREET. P.O. Box No. 620, HONG KONG
Won.
Hong Kong, 6th March, 1981.
THE YOKOHAMA SPECIE BANK, LIMITED.
Established 1884.
Capital (fully paid-up) Yen 100,000,000 .Yen 117,300,000
Reserve Fund
Head Office:--YOKOHAMA
Branches and Agenciae at:
Alexandria
*Batavia
Borlin :Bombay
Calenta
Canton
Changchun
Dairas (Dalny)
Nagmaakt Nagoya Nowchwang
New York Ouka Paris
Pelping
Rangoon
Feertien (Mukden) Rio de Janeiro
Harbin
Hong Kong
Honolula Kai-Toen
Karachi Lobe
London.
Los Angeles
Manila
San Francisco
⚫ Beattle
Semarang
Shankki
Singapore Sourabaya Sydney
Tientaln
Tokyo
Telagten p
Internt allowed on Current Aer
events.
..
Deposita peceived for fixed periods
as ratas to be obtained on application.
H. MORI
|Hong Kong," 11th March, 198L
Personal Investment socounts handled.
The Company offers to intending QUALITY PRINTING
Travellers the use of its "Travellers Chequer" and Letters of Cradit and, in addition, the world-wide services of its thoroughly equipped Tratel Department.
EW. DUGGAN,
Manager.
With Quick Service
THE NEWSPAPER: İNTERPRISE LTO,
THE BANK OF EAST ASIA, LTD.
Established 1918.
HEAD OFFICE:
10, Des Voeux Road, Central, HONG KONG
Capital and Surplus Total Resources
over H.$ 8,000,000,00 over H.550,000,000.00
Every description of Banking and Exchange busines transacted.
Current and Fixed Deposit Accounts in local an eign currencies opened for clients.
Savings Account and Safe Deposit Boxes. Branches and Agencies all over
KAN TONG! PO,
RIOT AT FORD WORKS.
Two "Hunger-Marchers"
Killed.
اب
CANTON EXCHANGE
New York, March 7.
Canton Central Bank notes were quoted at the Chinese Exchange Two persona are reported to
"There may be a recession in here last evennig at 52.3 per cent. have been shot and killed, and sev-stock prices, but not anything in while Hong Kong dollar notes in eral others wounded in the course the nature of a crash. Dividend exchange for Kwangtung silver
Henry Ford at Dearborn, Michi-
persons.
COPPER OUTPUT CONTROL.
New York, March 4.
It is rumoured that the world's
ence.
of a demonstration against returns on stocks are moving high-were at a premium of $421.50 for large copper producers in confer- gan, to-day by a mob of 3,000 This is not due to receding each $1,000. Communists and their sympathis- Prices for stocks, and will not be
ora.
hastened by any anticipated crash,
DEVICATES.
ito....
here have about agreed reduce production to 17% per. cent. of capacity, which is estimated to equal the ap |proximate present world demand. Placements, Basle (local agents, would mean a complete shut-down
Of the Societe Internationale de
This proposal, If approved, Mesars. A. Goeke & Co.). Satur by some of the United States com- day's official quotation In Baale: panies, as, a cut to 17% per cent.
A "hunger march" arranged by the possibility of which I fall to the Communists started at West economics at Yale, September 15, nee." Irving Fisher, professor of Detroit The marchers comman- 1929, deered tramcars and rode to the Dearborn city line, where they big way, 1981 can be den were met by 50 Dearborn police. In 1929, we were living in a place
cribed as a year of opportunities. £2-10-6 The police fought them with tear-with a powder mine in the cellar. gas bombs and the firemen with a 1931 we may feel sure that, we fire hose, but the crowd got are living in poor-house with a pany's assets on March 10, 1981, recalled, a cut to 26% per cent of through to the Ford plant. There gold mine In the cellar. Roger had exceeded its indebtedness by sentatives of approximately 90 the Ford police turned another fre Babson, December 26, 1980.
capacity more than $88,000,000, but at the hose on them, and when this fail-
"Not only have the "big men's of end of 1981 was less ed to check the attacks, the Ford the country been wrong in their men id efty police fred, first over utterance at the have similar 360
by the heats of the Crowd, and then y erred in their handling of t
000 The sec into it. It broke and 164+
World
monstration was planned at a Communi
entrpifed "fa" them and be,
is said,
at the Detroit
Chief, Manager.
yesterday
ant report
of the
the secur
Foster was the principal speaker that the
Bank
Kimately
{of capacity to these companies
would be quite uneconomic.
Late last December, It will be
was agreed to by repre- per of the world's copper produc-
HOW
here,
Expor
fore
clusion
the producers.