BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorised Capital
Luet and Fully Paid-up-r
Bosorte Funds -
Working
880,000,000
20,000,000
£ 1,500,000 $10,000,000
Beserye Liability of Proprietore #30,093,000.
MKAD OFFICE: RONO KONG,
BOARD OF DIRECTOR: :--
Ken, Mr. J. Puterean,
Chairman..
T. I Pares, Baq
· Deputy Chairman..
Ham. Mc, WA, A. Bali,.
4.1. Compton, Eaq. B. T. Takanon,.. Enj 18. Miskia, Eng.
AMOY
BANUBOR
J. A. Piran (
T. X. B. Shaw). Bog.
F. Warren, Eng.
V. K. Grayburn, Esq. Chief Mosque..
BRANCHES (~~--
LONDON
LIONS
BATAVIA
BOMBAY
CALCUTTA
CANTON
CB 100
DOLOK BO...
DAINEN FOOCHTOW GAPHONG BANSURG. EANED W KARNIN MONOKNW
#POH
MALACCA
MANLLA
MUAR (Johor)
MŰKDEN
NEW YORK
"PEIPING
PENANO
RANDOOR
BALGON
KIM FRANCISCO.
AMANORAI
JONORE
KOLE
COWL HIN
REALA LUMPUR
SINGAPORE
BOURADYA
י
SUNGET PATANI
TIENTSIN
TOKYO
TSINGTAO
YOKOHAMA
Current Accounla opened In Last Ourreary and Find Depostia recaled for one your br shorter periode in Local Compasy and Sterling
tena which will be quoted as 'appilleatin Hong Kong, Fih. April., 1989,
HONG KONG SAVINGS BANK.
The Hualnom of the above. 'Bank lendooled My bha' BONG KONG AND BEANGHAI RANK- 0 CORPORATION, Hules ray be based
<
• THE KORONG' - AND RÉANGRAI KWKFAG CORPORATION.
V. M. GRATBURN,
Chief Mounger.
Hong Kang, 27th February, 1933.
THE BANK OF CANTON, LTD.
Extablished 1912
Head Ofoe:-Hong Kong,
Authoriäed Capital (ILK, Currency} ...$11,000,000 Paid-Up Captial communicatio 1,000,000 1,400,000
BRANCHES
Ceston, Ukangbu, Bankow, Swajom Bangkok, New York and has Pranzmod.
LONDON BANKERS:-
The Klard's Bank, Limited,
CORRESPONDENTS
La all principal difes of the World.
Foreign Exchangă and banking business of
are description transacted.
Bale Deposit Floxen (various luni), at a yearly'
aantal strom $5 to $40.
LOOK POONG SHAN,
Chiet Manager.
THE BANK OF CHINA,
花
q
Reorganised October 26, 1928, under special charter of The National Gov- ernment as at.
'INTERNATIONAL EXCHANGE
BANK.
$25,000,000.00
$24,7 200.00
Subscribed Capital
· Pald-Up Capital
Resorve Funds
$ 3,824,603.82
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 our clienti special facilities for domestic and_foreign:banking and exchanges.
We also handle the insus of Bonds: and other. Public Funds of the Chin- ese Government both at home, and abroad.
SHOU J. CHEN,
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
THE CHINA MAIL.
THE HO HONG BANK, LTD.
(Established 1917.) EN
HEAD OFFICE'>-SINGAPORE.
LOCAL BRANCH
18, Queen's Road Central
Authorised Capital · Straits $20,000,000 | Issued Capital
Incorporated by Royal Charter, 1853. Reserve Liabilities of
HEAD OFFICE: LONDON,
Paid-up Capital ...
Reserve Fund
£3,000,000 £3,000,000
Reserve Liability of Pro-
prietors
..$3,000,000
Agencies and Branches:
ALOR STAR
AMRITSAN
BANGKOK
BAZAVIA
HOMILY
CALCUTTA
CANTON
CAWNTORE
OEBU
COLOMBO
DANAKK
KAIPHONG
HAMBURG
་
···LUOHINO
MADBAR
MANILA
NEW YORK
KEDAN
PRETING (Paking).
PENAND
BAND DON
SAIGON
·SEMARANG.
SEREMBAN
SHANGHAI
RINGATORE
Paid-up Capital ....
Shareholders
8,000,000
4,000,000
4,000,000
BRANCHES and AGENCIES in the principal cities of the world.
Every description of Banking and Exchange business transacted.
KO LEONG HOE, Managing Director.
THE NATIONAL CITY BANK OF
NEW YORK.
HEAD OFFICE: 55, Wall Street, NEW YORK.
Capital, Surplus and
Undivided Profts U.S.$205,444,512
Branches
ARGENTINE LONDON
BELGIUM
BANYOW
HARBIN
NITIAWAN
BRAZIL.
RONG KONG
NOURABAYA
CHILE
ILOILO
TAIFIKO
TPORT
TIENTSIN
CHINA
KALACHI
TONOKART (Shukat),
KLANG
TSINGTAO
КОВЕ
TOKOHAMA
CUBA
COLUMBIA
DOMINICAN
REPUBLIC
KUALA LUMPUR ZAMBOANGA
Foreign 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 HESOURCES. $19,000,000
EFFICIENT TRUSTWORTHY-
RELIABLE COURTEOUS.
144-150, Des Voeux Rd. C.
NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.
(NETHERLANDS TRADING BOCIETY,
DANKERS.
Established 1824
Hong Tong Qife:-1,"Quent's Evond Central
Authorized Capital.
&
... 160,000,000
1.20,015,000
MEXICO
PANAMA PERU
·PHILIPPINE ISLANDS PORTO RICO STRAITS
SETTLEMENTS URUGUAY VENEZUELA
Commercial and Travellers" Letters
Commerce and Finance
Egypt's Example In Monetary System
Absolute Stability Is Assured
years
EMPIRE AND WORLD FINANCE
(By A. S. BAXENDALE.)
FRIDAY,
ritative and convincing manner.
The Power of Gold
indictment against the power gold in the world:
AUGUST 19, 1932.
LOCAL SHARES.
The official summary of the of Stock Exchange issued
Jester- day: "Mr. Neville Chamberlain has Markata were decidedly off- Just announced that he is not dog colour yesterday, and quotationa matie on the subject (of currency) generally lower, Gements, Ewos and but he does not see any better basis Realties being marked down.... than gold, which in the past has
Sales.' served so well."
Ewo Cottona, Tla 14.80. Cements (combined), $15.40/1514
A Buyéfa,
"Most of the thinking world has long since realised that gold has not for one moment during the past century served the world; it has, aa the most vanal despot of all time, ruled the world crushing the weat and pampering the strong.
"It has been deified and acts as ja truly jealous God, visiting any national lapse of service with con dign punishment of the poor and needy.
to
Union Insurances, $460. China Fire Insurances, $620 "H. K. Steamboats, $22. Union Waterboats, $20. Benguet Censolidated, $15. Raubs, $99.
HK & W. Docks, $23. Providents (old), $4.95. Hong Kong Lands, $76. Hong Kong Realties, $10. Hong Kong Trams, $221. Peak Trams. (new), $7. Yaumati Ferries (old); $84. Yaumati Ferries (new), $834. China Lights, (old), $18.30. Malabon, Sugars, $25.- Cements (combined), $15.10. Dairy Farms, $27.70.
Lane, Crawford's, $5.30.
H.K. Amusements, $19.
HK. Govt. Loans, 3% Premium.
Sellers
ત, રા
Benguet Explorations, 22. cts. Providents (ola), $5.10.
"Gilbart tells the tale of that! lapse when the Bank of England's gold reserve was allowed to fall to Mr. A. S. Baxendale, who resided in Kuala Lumpur some 40 half a million pounds, and the se when he was in charge of the Post and Telegraph De-quence Families that had been living in opulence were in a few partment, has made the study of currencies a main interest of his brief agonising hours reduced life in later years. He has written six books or pamphlets on the beggary and plunged in despair-
their fortunes gone, hopea, "dreams i subject in the last eight years. ·
-labour was driven from its accus The latest booklet is entitled "Empire and World Currency" tomed fields, commerce laid pros includes an introductory summary by A. S. Comyns Carr, K.C., and trate; credit all but extinct; energy of Credits, Travellers' Cheques. Bills is published by the Commonwealth Press, 43, Chancery Lane, Lon-ascendant; and enterprise a depart paralysed, fear and distrust in the of Exchange and Cable Transfers bought and sold. Current accounts don, price Is. 6d. "The Spectator" records the opinion that Mr.ed spirit. The gloom was univer and Savings Bank accounts opened and Fixed Deposits in local and foreign A. S. Baxendale "has great stores of knowledge on the problems of sal for thousands in every rank of currencies taken at rates that may be
life were ruined." sacertained on application to the Bank Commerce, Currency and Credit, a clear mind and a notable power
"But it is not these. exceptional distress because of the artificial We are also able to offer our Cus-
of poignant expression."
occasions, such as 1846, 1857, 1866, barrier that prevents plenty reach- tomer the services of the Branches of the International Banking Corpora-
etc., that have awakened thousands ing want that has caused many tion in Spain and also of The National The main thesis of "Empire and ing more 'till' money than it re- of the most virile and able of people people as favoured as Mr. Chamber- City Bank of New York (France).World Currency" is that a currency quires, restores to
to the fact that the time has come lain, by the jealous god, Gold, to 5.A., in Paris and Nice.
the National ayatem which has worked so well in Bank
to rid the world of the barbarous determine that the golden_barrier R. M. MCLAY,-
the unrequired notes, *Manager.
Egypt since 1915 and which with cer- and
domination of gold. It is the rea must be destroyed notwithstanding is. credited, while the tain undesirable modifications has Treasury is debited." with the throughout the world are always into the contrary," Hong Kong, August 12, 1932.
lisation that millions of families any ruthless of aial decres of to-day. been successfully applied (under value of the notes, which are with! the name of the Currency Board drawn from circulation. System) to Malaya, Nigeria, Pale
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO.). HEAD OFFICE:-Taipeh, Formosa. Incorporated by Special Imperial Charter, 1899.
The fluctuation of the amount of stine, British East Africa and other the note circulation in Egypt is re- places is eminently suitable and markable; the maximum of the year desirable for the whole of the Brit-franging from nearly forty to more ish Empire. A general indication than Afty per cent. higher than the of the system can be gathered from minimum. The following are the the following quotations:
relative figures for the five years ending December, 1928-in millions of pounds.
"Egypt" was always one of the most difficult countries in which to
Central Bank in Foeraosa.. Bank-Notor issued Avenge amount ...Yen. 45,000,000-
A BRANCHES AND AGENCIES: JAPAN :—Tokyo, Yokohama, Hobs, Osaka.. FORMOSA-Ciran, Kaş, "Karinks, “Roslung,
Makong Manto, Shinshiku, Taichu, Tainan, operate a "gold standard currency CHINA-Shanghai Hapkow. Amoy. Foockom, owing to the seasonal nature of its
Taka Famul, Toan, Helio, Telto.
Hwalow. Chaton. OTHERS:-Fong Kong. Singapore, Boarabera,
export trade composed almost sole-
Bemarang, Balarin, by, London. Nowly of raw cotton. Its foreign ex-l
York, Dairen.
LONDON BANKERS;
Barclays Bank, Lid., Lloyds Bank, Katd.
Midland Bank, Lid, Warminster Bank Ltd. The Bank has Corrispondente in all the principal „Commercial "Centres throughout the world. K. NAOCRA,
RONG KONG BRANCH :
1. De Vonur Road: Canical Hong Kong. December 24, 1901.
Paid-Up Capital ... 80,030,000 ALEXANDER
Reserves
Head Ofħon. -AMSTERDAM”, Eastern Hand Office :----BAT&VIA:
INSTITUT
DE BEAUTE
Phone 25169. Pedder Building"
(1st Floor)
Branches :---Bandjermsain, Bandoeng", Bambay Calcutta. Cheribon Diamber, Djok. jakarta", The Hague Jiddah. Koho, Makassar, Medan, Palambang, Paka logan, Penng, Bangpoo, Butterdam", Bemarang. Shanghai, Singapore. SpecOppoalte Entrance to bala, Coerakarta (Solo), Tegal, Tikatja and Weltevredea* 01 *The offesa hava Bata Depanit. Bazes to Lat.
LONDON BANKERS:
NATIONAL PROVINCIAL BANK LID.
Hong Kong Hotel
Manager
Minimum.
Year:
Maximum.
1924
41.9
26.9
1926
41.9
28.7
1926
35.3
25.8
1927
33.6
24.4.
1928
33.9
22.3
change operations flow almost en- tirely in one direction during long) periods, for three months a large "The Egyptian Treasury holds at volume of money flows, from London any time, in the form of invest to Egypt while for nine months the ments, cash or credit "with the flow is in the opposite direction, National Bank, the total face value e., from Egypt to London. The of the notes in circulation plus the importance of the transactions can actual interest derived from the in- be gauged from the fact that the vestments and not yet credited to Inevitable annual autumn money revenue.
Absolute Stability.
pressure in London was undoubted- "The greater part of this sum is ly due in a greater degree to the invested in London in British Egyptian demand for gold than to Government securities. These in- any other cause. The Bank of vestments with the needful "sum in "England and the Money Market cash to meet day to day require! trade discount rates averaged for ments, form what may be called the fen years before the war nearly Exchange Endowment Fund The fifty per cent higher, in December Exchange rate between London and than in July.
Egypt has stood for 15 years at ab- solute par, ie, 97 piastres to Lustrous Oil Permanent Hair Waves
"If any strain could be imposed the pound (Bank's buying rate which are Large, Soft and Natural, on a currency system operated in 97 7/16, selling rate 37 9/16). Artistle Finger and Marcel Wavm, Oil the manner of the Egyptian foreign "The exchange operations be- Treatment, Shampooing, Henna Pack exchange it would certainly have tween London and Egypt are effect (any colour), Hair Cutting and Mant- Correspondente all over the world. Banking Busi care for Ladies and Gentlemen. Cou been encountered in Egypt rathered with great case and at an in- scientions, Artstle: Work by European than in any British Crown Colony significant cost. The London buyer Expert" Mr. "Alexander. -
operating on the Currency Board of a draft on "Alexandria" for the CHARGES MODERATE. System. Moreover, while the equivalent of £100,000 sterling pays A VISIT WILL CONVINCE YOU.
Currency Board Eystem per-100,000 to the National Bank of mits of Buch .variations
as Egypt in London and the payee re- are for
instance inevitable in ceives from the National Bank in countries on the gold standard-Egypt 97,487,500 plastres, that is, the Egyptian system ansures ab-I/97,487.50. Notes representing solute; instead of comparative, star this sum are added to those in cir bility of exchange with linked cur-culation in Egypt, and the Egyp rencies. Therefore the Egyptian tion Currency Guarantee Fund in system: seems the more worthy of London is increased by £100,000, attention
Reverse Operation,
nosa si 'arity deodption transacted.
Manager.
▲ STOXHINE,
Hong Kong, 21st June, 1982.
THE
AMERICAN EXPRESS COMPANY,
INC.
Head Office:-65, Broadway. New York.
Manager.
Capital
Hong Kong, 6th March, 1981,
.U.S.$5,000,000,00 Surplus ... .....U.S.#1,882,382.04. „U.S.$1,458,116.78
THE YOKOHAMA SPECIE BANK Enservos
LIMITED
Established 1830.
.*..
Capital (fully paid-up) Yen 100,000,000 -Réserve Fund
„Wen 117,300,000)
Head: Office:→YOKOHAMA,
Branches and Agencies at:
Alexandria
Cauton
Changchun
Dairen (Dalny)
Newchwang
BRANCHES:
Lide Landes Idywpool
Тр
Cantanknople (Moidu- Carlo
Nagasaki "Nagoya
Colombe
New York
Osaka Faria
Feiping Rangoon
Fengtien (Mukden) Rio de Janeiro
· Hamburg
Rong Lour
solala
Kai-Ypez
San Francisco
Seattle
Semarang
Shanghai
Shimonosoli.
·Singapore. Soerabays
dney Mentain
gales
okyo e
llowed:
Kolch
Blagspons
• Zabobsina t Explo
Branches of American Express Com
For
TONE, QUALITY, BEAUTY DURABILITY,
· obtain the
MORRISON
PIANO
(Guaranteed len -TEREN).
pany in Princes diules of United FOR SALE OR HIRE
States of America and Canada.
*All classes of Commercial Banking Transactions undertaken.'
Personal hüridled.
The main principle of this sys- tem la that the backing or stand-by formed with equal facility. The The reverse oparation is per of the note issue is provided by Egyptian buyer of a draft for money invested in gilt-edged securi 100,000 sterling on London pays Hes instead of being spent on gold)
The holdings of productive ecuri- to the National Bank of Egypt in ties (purchased by the price paid. 97,562.50, and the payee In Cairo. Alexandria, or elsewhere, by the banks or notes which they London receives $100,000 sterling buy from the Treasury or the Agent Notes to the value of 97,562,000 of the Treasury-in Egypt the agent is the National Bank of plastres are withdrawn from. cir culation, while the Currency Guar |Egypt) form not önly the Currency|
Note Guarantee Fund but also the antee Fund is reduced by this Exchange Endowment Fund. This
amount payable to the payee – of the draftter |latter fund is in effect that part öf
the former fund which is maintain A Dr. William Shaw, the fore ed in any country with which it is most living, currency historian, says desired to link the 'home' cur with reference to the Egyptian Cur rency as my rency machinery, The machinery has never broken down and "A bank in Egypt will, let us any, smallis
nover send to the National Bank of Egypt,matters not one straw whether the can break down wit
an order for LE100,000 in: notes.
These notes are supplied on demand demand is for £20 or for £20,000,000. and against payment of the full demand for exchange which value of the notes. The payment
would break any bank in exis
TSANG FOOK PIANO for thess notes is affected in pre-tence would leave such a machine
COMPANY
soux Road, Central,
co House
cisely the same manner as payment bis mkde for notes in countries on the gold standard. In affect the de (2posit account of the bank
National
bited
all the
guments,
Ewo Cattona, Tls 14.30.
Cements (combined), $1534.
Overland China Mail.
A: WHOLE WEEK'S NEWSPAPERS IN ONE.
Sensational evidence featured the trial of Cheng Kwok-yau on a charge of procuring the murder of George Fung, at Village Road, at the Criminal Sessions of the Supreme Court before the Chief Justice, Sir Joseph Kemp, K.C.. Leading Counsel are engaged in the case, which is al tracting great interest. This has been evidenced by the crowds that have attended the hearing daily. Many Euro- peans were included among the spectators: Edward Zimmern, one of the principal witnesses, for the Crown, underwent a gruelling cross-examination by Mr. Jenkin, K.C., as did his associate Sydney Christie. A pardon," ap- plied for by the Crown, at the conclusion of Zimmern's evidence was refused by the Chief Justice, who ruled that the application should have been made before the testimony was given. A conditional pardon was granted the witness Christie. "Breezes between Counsel were intermittent during the proceedings, which are likely to continue for another week The Crown reached the first branch of their case on August 17, when they called three solicitors, Messrs. M. W. Lo, E. Davidson, and C. Y. Kwan, as witnesses. The trial is fully reported in the OVERLAND CHINA MAIL.
*
Mr. Sun Fo, former President of the Executive Yuen, in an interesting interview, bluntly asserted that Mr. Wang Ching-wei, whose recent resignation from the Presidency of the Executive Yuen caused the present political turmoil, although he was supposed to be in a position of authority, was, in fact, governed in all his acts by the power of the Military Party. China," he says, is controlled by the Mill- tarists. The interview is published in the OVERLAND CHINA MAIL
Mr. Ma Hei-wan, head of the Szechuen Arsenal, who was arrested in Canton on August 8, shortly after he had ordered 16 new aircraft in Hong Kong, was released on August 11, and immediately proceeded to Hong Kong. He was held, he explains, on suspicion of being a Communist agent."
An exclusive interview in which he outlined the facts which led to his arrest and subsequent release is given in the OVERLAND CHINA MAIL.
The Portuguese Company of the Hong Kon Defence
Corps Becured the champio ship at t annual aquatic sports, held in the V.R.C. bath on the of August 13 The Officer Commanding, Lieut-Colonel Bird, D.S.0 0.B.E, was among a large gathering of spectators who witnessed some excellent sport. The meet- Ing is reported in the OVERLAND CHINA MAIL.""
There is no phase of the life of the Colony or of China that does not receive attention in the OVERLAND CHINA MAIL the weekly paper that YOU MUST ORDER NOW.~
READY NOW.
Mail via Suez closes at 9.30 am, August 20, and via Siberia at 5 pm, August 19.
SINGLE COPT:
Cents.