BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorised Capital (60,000,000 Cword sad Fully Paid-up 30,000,00 Kamervo Penta from
Berling
1,400,000 $10,000,000
· Masacre Lladility of Proprietore. 20,000,000
4
HEAD OFFICE: HONG KONG,
BOARD OF DIRECTORS :—.
Hon. Mr. J. J. Palerum.
Chairban
T. E. Pouros,, Tag, Deputy Chairman.
·Hon. Mr. W. E, Bečky,
L EL Compton, Ea
*. T. Johnson,
"Miskia, Baj
AMOR
BANO KOK
HATATLA
BOMBAY
CALGUTTA
CANTON CHEFOO
COLOR BG
DAIKEN: 1.
FOOCHOW
HAIPHONG
HAMBORO
HARDIN
SONGSEW
ILOILO
TPOB
JOHTOR?
KOWLOON
1. A. Piammt
1. I. X. Shan, Dig
5. P. Warren, Ber..
V. M. Grybarn, Key,
Chist. Manager.
BRANCHES:-
KUALA LUMPUR
འ་
LONDON LYONS.
KALACCA
MANILA
MUAR (Johor)
MUKDEN
NEW YUPI
PEIFING
PENANG
RANGOON
HATOON
SAN PRANCISCO
SHANORAL
BIXOA POSE
FOURABYA
TIENTSIN
TOKYO
TR:NOLAD
RUNGE PATANI
YOKOHAMA
-Ourrent Amounts opened In Local Curranay and Fixed Deposit moetend for cos your OF shorter parinda in Local Company and Sterling an borne which will be paid ou "application. Hong Kong, April," 1979.
HONG KONG SAVINGS BANK.
The Business of the shove Bank la condunted by the HONG KONG AND SHANGHAI BANT IN CORPORATION. Ra's may be vbiolasé
spination.
-
FOR THE CONOKONG AND BHANGRAI ALVIZAG CORPORATION.
V. K. GRAYBURN.
Usial Missgee.
Hg Kong, 17th February, 1933.
THE BANK OF CANTON, LTD.
Established 1912.
Head Office:Hong Kong. Authorland Capital: (HLA. Currency) ...$11,000,000- ,655,000 Paid-Up Capital
1,100,000
Boveri Puod apu
Canton,
BRANCHES
Shanghai, Hankow,
Bangfox, New York and San Francisc
LONDON BANKERA :--
The Lloyd's Bank, Limited.
CORRESPONDENTS
In all principal' alties of the World.
Foreign Exchange and baking business of
wwwcy sription transplad
Sale Depot Bosse (variose dane)'să-n yearly
real of "troen 35. La $48.
LOOK POONG SHAN,
Chlef - Manager.
THE BANK OF CHINĄ. 行鍠國中
Reorganised October 26, 1928, under
special charter of The National Gov. arurnent as 20
INTERNATIONAL EXCHANGE
BANK.
Subscribed Capital
.$25,000,000.00)
Paid-Up Capital.
$24,7, 200.00) .$8,820,003.82
Reserve Funds
HEAD OFFICE: SHANGHAI.
HONG KONG BRANCH:
4, Queen's Road Central
Owing to our numerous branches in! China and large connections in the im partant commercial centres of the world, we are able to extend to our allenta special facilities for. domestic
and foreign banking and exchanges.
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
THE CHINA-MAIL.
THE HO HONG BANK, LTD.
› (Established, 1917.)"
HEAD OFFICE-SINGAPORE
LOCAL BRANCH:-
(d) 13, Queen's Road Central
Authorised Capital Straits $20,000,000 Issued Capital
Paid-up Capital
Incorporated by Royal Charter, 1833. Reserve Liabilities of
HEAD OFFICE: LONDON.
Paid-up Capitali
Reserve Fund
Reserve Liability of Pro-
prietors
£3,000,000 .£8,000,000.
#8,000,000
ALOR STAR"
AMRITSAR
Agencies and Branches:
BANGKOK.
BATAVIA BOMBAY CALOUTTA
CANTO
* DAWNPORE
CEBU
COLOMBO
HAIPHONG
DELAI
KAMBUNG
HANKOW
HARBIN
EDNG CŨNG
ILOILO
ПРОБ
KARACHI
ILANO
COBR
KUALA LUMPUR
Foreign
'KUGKINO".
MADRAS
MANILA.
MEDAN
XEW YORK
PEIPINO (Peking)
PENANG
RANGOOX
Shareholders
8,000,000
1,000,000
4,000,000
and
Commerce
Finance
BRANCHES and AGENCIES in the LORD SNOWDEN AND
principal cities of the world.
Every description of Banking and): Exchange business transacted.
KO LEONG HON,
ECONOMY.
SHARE MARKET.
The official summary of the Managing Director. Company Reserves And Stock Exchange issued yester
Income-Tax.
THE NATIONAL CITY BANK OF NEW YORK.
יי
HEAD OFFICE: 55, Wall Street, NEW YORK. 4.
Capital, Surplus and
Undivided Profits U.S.$206,444,512 Branches. Inim.
ARGENTINE
SAIGON
SEMARANG.
#HRENBAN
SHANGHAI.
LONDON
SINGAPORK
BELGIUM
MEXICO
SITIAWAN.
BRAZIL
PANAMA
́SÕBRADAYA
TAIPING
(CHILE)
PERU
TIENTSIN
CHINA
TONGKAR (Shuket)-
TSINGTAO
COLUMBIA
YORORANA”
CUBA
ZAMBOANGA
DOMINICAN
REPUBLIC
Exchange and General Banking business transacted.
INDIA ITALY Current Accounts opened and Fix-JAPAN ed Deposits received for one year or shorter periods at rates which will be quoted on application.
A. H. FERGUSON,
¿Manager. Hong Kong. 8th July, 1932
THE NATIONAL COMMERCIAL
SAVINGS BANK, LTD.
CURRENT ACCOUNTS. Cheques Cashed in 15 minutes
while you wait.
SAVINGS ACCOUNTS
We offer good rates of interest. TOTAL RESOURCES $19,000,000
EFFICIENT TRUSTWORTHY——
„RELIABLE-COURTEOUS.
144-150, Des Voeux Rd. C..
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
(NETHERLANDS TRADING SOCIETY)
BANIRBS.
Established 1834.
Hong Kosy Office-1, Queen's Bond Castral.
النا
PHILIPPINE
ISLANDS FORTO RICO
STRAITS
URUGUAY
VENEZUELA
"EASY TO TALK.”
London, August 1. Viscount, Snowden, Lord Privy Seal, ex-Chancellor of the Exche quer, replying to the debate on economy in the House of Lords recently, warned the House that it was the easiest thing in the world to talk economy in the abstract,
SETTLEMENTS but the difficulties began when they tried to make economies.. The Government did not look upon the Commercial and Travellers' Letters motion of Lord Hunsdon in any of Credits, Travellers Cheques, Bills sense as a hostile one. They need of Exchange and Cable Transfers ed all the encouragement they bought and sold. Current accounts could get and, belleving that the and Savings Bank accounts opened and motion was intended to give the Fixed Deposits. In local and foreign Government encouragement; they currencies taken at rates that may be
ascertained on application to the Bank. did not oppose it.
We are also able to offer our Cus The present Government had &tomer the services of the Branches effected greater economy in nation
of the International Banking Corporaat expenditure during its short tion in Spain and also of The National term of office than City Bank of New York., (France), SA in Paris and Nice:
R. M. MCLAY,
Hong Kong, August 12, 1932.
Manager.
THE BANK OF TAIWAN, LTD.
¡TAIWAN GINKO.)".
HEAD OFFICE:-Taipeh, Formosa Incorporated by Special Imperial Charter, 1899..
Central Bank la Formors. Bank-Notes issued Areaga acount...Ten. 16,000,000 BRANCHES AND AGENCIES: JAPAN :--Tokyo, Yokohama, Kobe, Ouska.
any other Government of the past It had succeeded in. effecting a total economy on this year's Budget, of no less than £79,000,000. That was made up by a saving of £50,000,000 on unemployment, £9,000,000 on education, £8,000,000 on "defence, £7,000,000 on roads, and other smaller items amounting to about £5,000,000.
The cost of abnormal unemploy ment was the greatest factor in in- expenditure in recent creased years. In the year before last un- FORMOSA-ran,: Esgl Karaoke, Keelung. employment was costing £114,000,- Makong Naate, Shisoblku, Tai, Talaan, 000. This year the cost to the Exchequer had been brought down to £65,000,000,
Takan, Tainaul, Toon, Halto, Tallo.
CHINA:—Shenghai, Inakow. Amez, Foocke,
Swatos, Canton OTHERS--Hoog Zong, Singapore Rabes, Beacons, Batavia Bombay, London, New York, Dairen
LONDON BANKEES': ''
Barclays Bank. Lid: Lloyds Bank, Leid. Midland Bank Ltd.. Westminster Back, Lad The Bank has Correspondents is all the principal
Commercial Centres kiresghout the world. K. NACUNA,
Малорит
HONG KONG BRANCH›
3. Das Voruz Road: Central Bog Long. December 24, 1081
Authorized Capital f. 150,000,000 Paid-Up Capital
.. 80,080,000 THE NEW Reserves
Branches
20,015,000
Djak.
Hard O-AMSTERDAM".. Eastern Haid oflow?—BATAVIA,
Band{werinain, Bandong, Bombay, Calcutta, Charlbom, Djember, Jakarta, The Hague", "Jiddok, “Kobe, Makusour,・・ Madan, Paismboog, Paks. longan, Patang, Rangoon, Botsaedara“. Semarang, Bhanghai Bingapore, Bor bala, Boerakarta (Solo), Topal, jaap
aud Weltevreden”.
Thase offices hays Sale Deposit Baza to Lat.
LONDON BANKERS :---
NATIONAL, PROVINCIAL BANK LID.
Correspondente all' aver the world. Deadog Bel bana of every description transected.
A. STOXKINI, Hong Kong, 21st June, 1982.
Mazagor
We also handle the issue of Bonds AMERICAN EXPRESS ́COMPANY,
and other Public Funds of the Chin-
oss Government both at home and abroad
Hong Kong, 6th March, 1981.
Hand Office:-85, Broadway..
THE
INC.
SKOU J. CHEN,
Manager.
New York.
Capital
Surplus
Reserves
BRANCHES:-
Amsterdam
Antwerp.
THE YOKOHAMA SPECIE BANK, LIMITED.
Established 1880.
20
Capital (fully paid-up) Ten 100,000,000 Reserve Fund
Yen 117,300,000
Head Office:—YOKOHAMA.
Branches and Agencies at:
Alexandria
Batavia
Balin
Calcutta
Bombay
Canton Changshen
Dairen (Dalny) My
Bamburg
U.S.$6,000,000:00: U.S.$1,882,332.04| .U.S.$1,458,116.78
Bombay
Forutalam
Londsá
Kdywpool
Lasse
Nagasaki Nagogs Newchwang
Laugsso
Lauror Maraton
84. "Morisa
New York Ovaka Paris
Contonangla; Master Carla-
Manila"
Tiectela Viens
“Zurish
Folding Rangoon Fengtien, (Mukden) Rio de Janeiro Hamburg Hankow
· Long) Long
Ban Francisco
Branches of American Express Com- paby in Principal cities of United :States of America: and Canada.!
All'classes' of Commercial Banking Transactions undertaken 70
Personal Investi
OPEL
THE NEW
Product of General Motors
OPEL
THE NEW
For Economical,
Motoring
OPEL
For Minimum Cost
THE NEW
OPEL
THE NEW
For Maximu
OPEL
OPEL
Car Co. Ltd
Depleted Capital.
to
"If trade recovers, as it will re- cover," he said, "we shall need to replenish our depleted capital re- serves by the savings of those who can afford to save. That is parti cularly harmful in the taxation of company reserves. I have alwaya held the view that if the finances of this country would permit it, something ought to be done deal with the undoubted hardship which is inflicted on companies by the-taxation of the sums they place to reserve. Thu of course, would have to be protected by a good many safeguards. There would have to be an assurance that the
reserve money put to
was not afterwards distributed as divi- dends, and that it was used for the purpose of capital development."
Budget Estimates. Doubt had been expressed as to whether estimates in the present Budget would be realised. He had every confidence that the very able expert advisers had the fullest Justification for recommending the estimates they did.
day:-
Taken all round, markets, though patchy, were fairly steady through out the day, and even higher in a few instances.-
Sales.
a
shade
"Union Insurances, $470. - HK Hotels (Old), #11. ⠀ Ewo Cottons, Tia. 14.10/14.30. China Lights (Old), $18.20.. Lane, Crawfords, $5,55..
Buyers."
Hong Kong Banks, $1,550. Union Insurances, $467. China Fire Insurances, $620. Hong Kong Steamboats, $224. Union Waterboats, $20. Raubs, $99%
H.K. & K. Wharves, $140. H.K. & W. Docks, $19.
Ewa Cottons, Tis. 144. H.K. Hotels (Old), $10,85,
H.K. Trams, $221⁄2 ex. div. Peak Trams (New), $7. Yaumati Ferries (Old), $341⁄4, Yaumati Ferries (New), $831⁄41⁄44. China Lights (Old), $18.20.. China Lights (Naw), $172. Telephones (P.P.), $23,80, Malabon" Sugars, $23. Cements (Combined), $15.85. Dairy Farms, 327%. Watsons (Old), $12.80% Lane, Crawfords, $5. H.K. Amusements, $194.
TUESDAY, AUGUST 16, 1932
FOOCHOW'S THRIVING
INDUSTRY.
How Umbrellas Are Manufactured.
OVERSEAS DEMAND.
HOME RAILWAY
FINANCE
Growth In Ratio Of Expenses.
DETAILED ANALYSIS.
A well-established Industry In A detailed analysis of the finan- Foochow is native-fashion umbrella cial position of the British railways making and the July issue of the is given in the current issue of the "Chinese Economic Journal" gives Bank of England statistical sum- an interesting account of it.
Įmary. · Tables are given showing The chief materials used are working receipts and expenditure paper, oil, persimmon lacquer, from 1900 to 1918 and from 1919 to Paste thread, fax cord, bamboe 1881. By these it is clearly shown and wood. The paper used that, notwithstanding the very sub- generally made from mulberry stantial economies which have been bark Two kinds of oil are used effected by the railways during the wood oil and green oil Wood oll past several years, the working ex is very thick, while green oll, is
penses have increased to a greater very thin, so neither can be used extent than the receipts. alone and they must be mixed in In 1900 the total working receipts suitable proportions. The lacquer were $101,000,000 and expenses made from persimmon fruit is $62,500,000. In 1918 the compar green-gray in colour and very thickable figures were £119,800,000 and and sticky. As
as it is 576,700,000, an increase in the per- applied to the umbrella, it takes centage of expenses to receipts from on a brownish "appearance and 60 to 63. when dry, makes the umbrella, ab- solutely waterproof.
BOUR
17
By 1919 receipts had increased to £178,200,000, but the growth of ex- In covering the frames, the
penses had been much greater and paper is cut in to the shape of an had reached's total of no less than acate angle equivalent to that
£164,600,000. In this year the per- between the two struts. Then, the centage of expenses to receipts was workman opens the frame, applies as high as 92: in 1920 it rose peralmmon lacquer to the struts 97 (receipts £238,900,000, expenses and affixes the paper to the £282,000,000); and in 1921 to 104 "bones" of the umbrella. Lacquer (receipts 4217,800,000,
to
expenses
or paste is then again applied and $226,800,000). Between 1919 and another piece of shaped paper put 1921, when the railways were decon on the web, so that the outer layer trolled and
the amalgamated, exactly covers the inner one. When Government assisted the companies. these operations have been
com to maintain the 1913 level of net, pleted for all the struts, a round receipts by grants amounting to piece of paper, about a foot in
some $126,000,000, which are not in diameter, with a small hole in the cluded in the above figures of work- centre to admit the top” of the ing receipts. umbrella, ispasted on the web, and carefully brushed all over with lacquer. Then two more layers are
A
Reduced Expenditure.
In 1990 expenses were £147,600,-.
of 3184,800,000. This percentage
H.K. Govt. Loans, 3% Premium. applied, and when dry, the umbrella 000, or 80 per cent of the receipts is complete. Decoration, of course, was unaltered last year, when re- can be done before or after ailing.ceipts were $170,200,000 and expen
Sellers.
Benguets Consolidated, $164. Beriguets Explorations, 25 cts. Providents (012); $5.10.-)))) China Lights (Old), $181⁄2 Hong Kong Electrica, $77%.
There is a considerable demand for these useful and picturesque umbrellas among overseas Chinese and the best markets are found in Hong Kong, Siam and Java.
Britain's Canning Trade
Boom
Industry's Enormous Output
FRUIT AND VEGETABLES
zes $136,900,000.
During the past five years works ing expenditure has been curtailed by no less than £28,700,000, bút it has not been possible for the com- panies to benefit from the whole of this saving since £4,100,000 was absorbed in reducing selected freight rates.
Wages costs have to a consider- able extent been responsible for the ratio of expenses to receipts singe 1918. During the war various ad- ditions were made to wages costs, culminating in 1918 in a supplemen- tary flat rate allowance of 88s, per week. In 1919 they were increased by the institution of the eight-hour day and in 1920 by the raising of the flat rate allowance to 888. per week. In August, 1928, a reduc- tion of 2.5 per cent was made in all wages and salaries but in May, 1980, the former wages level was restor ed. In March last year a general reduction of wages and salaries of
Wisbech, Aug. 1. Thours after they have been picked 2.8 per cent. was again made, to-
Began as a Hobby.
In the strawberry section
more
gether with a further cut of 2.5 per cent. in wages over 40s. per week.
I have to-day "seen a British in on farma" I was told. dustry, which until a few years ago was considered an American mono- poly, booming and unaffected by than 50 tons a day are being dealt the world slump. It is doubling its with. The new-potato rush-1,000,- output year by year, employs many 000 cans--finished yesterday. There RUBBER NOW USED hundreds of people, and its produc-will also, in their respective sea- ion has reached gigantic figures, sons, be 1,000,000 cans each of says a special representative of the celery, beets, sliced apple, young'
carrots, and spinach a On the question of currency, "Daily Telegraph."
There are other factories at Ely, Lord Snowden said that there It is the British canning Indus- might be advantages in a low ex-try, exemplified by National Can Evesham, Dundee, and in Kent, em- change value of sterling, but there nors (Smedley) Ltd., which is work-ploying between 200 and 500 people were great disadvantages.
ing 24 hours a day in a frenzied in each; «!
ONE
·YERT,
AS FUEL
Ceylon Railways Set Example.
economical than coal
"The less we deliberately try to rush to "can" and distribute the Mr. S. W. Smedley, managing A correspondent of the Malay regulate the rate of exchange the fruit and vegetables that pour in-director of the company, told me better it will be for the trade and to its factory from this fertile part how eight years ago he decided to Mall refers to a paragraph stating Industry of the country. (Cheers) of the Fen country and take up canning is a "hobby." That that the Ceylon Railways Depart The question of the equalisation The figures are amazing. I cite year his output was a meagre 1,000 ment had found scrap rubber sulte fund is a different matter, for that the green pea section of the bust cases all told. He visited the able and more
www for certain purposes factory leJust United States and made an inten, brane nessalone 2K, MIN Is only intended to deal with specu-
saring of Rupees 15,000 It further stated that lation, and speculation may at any approaching the peak period, which siye study of American methods. time upset the normal flow of cur means that 125 tons of peas will be "Since then, he salt,
Kallways would forthwith constme rency. The rate of exchange can canned daily, amounting to about put has doubled Itself ever
While the world lies in the grip of 180 tons of rubber per annum as be left to find its own level and 250,000 cans a day...
fuel | that will be determined by [
of Lorries 19 the economic depression, we'i work Flee
The imaginative planter (he Bay) volume, of International, trade, the Between six and saven million twenty-four hours out of twenty-
Referring to a suggestion of cans of peas will be alled during four, Sundays being the only time must see at once visions of other rationing spending Departments the brief season of a few weeks, we are ever closed day or night. railways, many times larger and he said that as a matter of fact while a similar quantity will be "All our machinery 1 British greater than the rather insignifica many Departments were rationed dealt with at the company's Spald-made Our export business railway system of Ceylon, adopting now, but they must act within ing works A feet of 800 lorries steadily growing, and among the this idea and beginning to com reason, and not set a Department rushes the pess from the 1,600 acres places we are now exporting to are (even in the same proportion) a problem they cannot possibly of farmland within a 15-mile radius China, Africa, the United States, an amount of rubber as would make a rather large hole in those world to the Wisbech; works./
Canada, and Singapore..
stocks
Your Lordships may be sure, “
I watched a crop being gathered
tar Lord Snowden concluded that in the Belds, the vines" wrenched THE UNITED STATES IRON AND I realize Mr. Editor, this will
when, the Estimates for next year have to be considered they will gone through
from the earth by
Hing haymaking
the
«STEEL INDUST
pain you for a moment, b must stick to your guns. not enough Beray Ru
She
other than the