BANKS
HONG KONG AND SHANGHAI
BANKING CORPORATION,
Authorland Cholla!
Zoned and fully *****
Banerva Funde-
Berling
$50,000,000
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
20,000,000 Incorporated by Royal Charter, 1853
HEAD OFFICE: LONDON
£1,500,000 $18,000,000
Her Liability of Proprietors $9,000,000 HEAD OFFICE: HONGKONG.
Paid-up Capital
Reserve Fund
BOARD OF DIRECTORS.
Hon. Mr. Q. 0 B. Mackle -
Chairman,
B. 11. Dodwell, Esq.
Han X, W, H. BU, AH. Complon, Kau, Wade Keswick, Yaq 0.0. Knight, Beq.
AMOY
DANGROH
DATAVIA
BOMBAY
JANTUN
CALCUTTA
QREPOO COLOMBO DAINES FOOCHOW HAIPHONG BAMBURG
ΠΑΝΣΟΥ
LLARDIN
BONUKEW
ILOILO
IPOK
TOKONE
KOUK KOWLOON
Reserve Liability of Pro-
prietors
.£3,000,000 .£8,000,000
THE CHINA MAIL THURSDAY, JULY 26, 1934.
Commerce and Finance..
NEW YORK STOCK EXCHANGE
£3,000,00 S. E. Levy And Co. And
Agencies and Branches:
Italia
Ban Food
Salgún Sereng Beramben Shanghai
Kingapore
Alor Bla
Amritaar
Isob
Deputy Chairman,
Bangkok
Karachi
J. Miskia, Zaq.
Belaria
Klant
K. S. Merino, Esq.
Borabay
Robe
T. E, Prats, Esq.
Calcutta
Kala
Cenloo
Lampor
SZด่นป
Capore
Kochiar
Sourabaya
Cebu
Madras
Triplog
Colombe
Mi
Tiritain
Dold
Medan
Toogkah
Haiphong
New York
(Dhoker)
Hamburg
Palplug
Tiingin
Yokohama
Harbin.
PROJK
Zamboangs
V. M. Grayburn, Esq.
Car Mag.
USANDHES:-
LONDON
LYONE
MALACCA
MANILA
UAB
51URDEN
NEW YORK
TESTING
PENANG HANUDON
NAIGON
SAN FRANCISCO
KUALA LUMPUR
SHANGHAI
SINUAMIRE
SOUNABAYA
BUSIEI PATANE
TIEKTЯIN
TOKYO
TNINGTAO
YOKOHAMA
Current Account opened in Local Currency
and Fixed Depolis Facelvad for 035 THT OF aborter period in Excel Conyany and Burling an terms which will be quoted on application. Hang Ku 18th Aprit, 1032,-
HONG KONG SAVINGS BANK.
The Burism of the phoss Bank G condust.
ad by the HONG KONG AND SHANGHAI BANKING CORPORATION.
obtained on appleston.
Ruleb
FOR THE UNO KONG AND SHANOMAL BANKING CORPORATION
V. M. GRATOURN,
Cblof Hasager.
Eng Kong, 28th February, 1981.
THE BANK OF EAST ASIA, LTD.
Authorised Capital .....
Pald-up Capitál annons Barve and Undivided Profite
$10,000,000,0
...$2,444 500.00
HEAD OFFICE-HONI RONG
12. De Vanix Rand Central,
BOARD OF DIRECTORS: --
Bir Shou-son Chow, Chairma
Franko
Font Rank
Foreign Exchange and General Banking "busines transacted.
Current Aroounts opened and Fixed Deposits toived for one year or shorter perioda si estos which will be quoted on application.
W. H. E. THOMAS,
Acting Manager Hong Kong, 20th February, 1984.
THE BANK OF CANTON,
Established 1912.
Authorized Capital Pald-up Capital
A.O.F.C. Quotations.
New York, Yesterday,
The following quotations from New York have been received by Messrs 8. E. Levy and the American Oriental Finance Corporation.
Silk Dec.
Last
Close Opening Noon 5.04 5.04 6.04 12.78 12,75
LOCAL SHARES.
TO-DAY'S. QUOTATIONS.
Industrials Rally On Wall Street
Rails And Bonds Decline.
SILVER MARKET DULL
NEW ADVERTISEMENTS
IN THE MATTER OF THE COMPANIES, ORDINANCE,
1932 and
IN THE MATTER OF THE . CHUNG SHAN KNITTING .CO. LTD.
7
(IN LIQUIDATION)
belts, the weather is still torrid, with temperatures at around 110. A forecast of the weather in the West Indiestes showery conditions. and possibly a break-up in the drought. A tropical storm, which New York. To-day. is not wanted in that section, Is Industrials and utilities made approaching the Texas coasts. The| slight rallies on the New York weather in the East is' favourable. market yesterday, rising „58 and "Grains—The Mid-West is still The following is the list of local,09 to 91.57 respectively. Ralls and experiencing withering heat, but share quotations issued to-day: bonds, however, were down. 31.and this is now finishing and a break Creditors Voluntary Winding-up, 40 to $7.59 and 94.51, respective up in the weather is approaching
TOTICE IS HEREBY GIVEN The commodity Index advan-from the North-West, which will NOTICE
that all make conditions, cloudy and much
Persons having cooler.
| Claims against the above Com- 8. E. Levy And Company's Report
"The weekly cotton weather re- pany and who have not yet sent. In their market report, Messrs. port is alightly bullish."-Reuter in particulars of same to the S. E. Levy and Company, corres
Liquidator are required to for E. À. Pierce Co.'s Report pondents for Messrs. White. Weld In their market report, the ward formal Proof of their Debte n. and Company, New York, state:
to the Undersigned American Oriental Financa Cor- and Claims "Stocks: Some buying has been poration, correspondents for Messrs. Liquidator on or before WEDNES- coming in on the basis that the E. A Fierce and Company, New DAY, the 8th day of August, 1934. decline is now sufficient to develop Tork, state:
or in default thereof they will be
Banks.
H.K. Bank, $1835 sa.
H.K. Bank (London), $186 Chartered Bank £16 n. Mercantile Bank, A. & B £31 Mercantile Bank C, £13% n. Bank of East Asia, $84 b. Am: O. Finance Corp., Sh. $20 China O. Fin. Ord., Sh. $4 m. China O. Fin. Pref. Sh. $5 R.
Insurances.
Shipping.
N.Y./London
Cotton Oct.
Dec.
12.80
12.87 12.88
12.92
Silver Sept.
46.44
46.25b
Dear
46,00
46.506
1.14
1.186
Rubber Sept.
14.72
14.58
Dec.
*** 15.12.
14.95
Canton Ins., $290 n.
C. Wheat Sept.
Union Ins., $550 b., $560 a.
07%
08
China Underwriters, $1
b.
LTD.Dec.
***... 9044
100%
China Fire Ins., $510`.
Head Office:-Hong Kong.
Auburn
C. Corn Sept. 64%
Dec.
(775 Wheat Oct. 85% STOCKS: $11,000,000 Amer Smelt 85
B,865,000, 'Anac Copper 11% 32,170,492
65%
H.K. Fire Ins, $280 b.
68%
International Assce. 36 n.
86%
36
36
11
20
1914
Douglas, $41.15 n.
16
414
30%
86%
$7.
11%
11%
28
H.K. Steamboats, $7 n. Indo-Chinas (Pref.), $80 n. Indo-Chinas (Def.), $83 n. Shell (Bearer), $46/3 n. Union Waterboats, $12 b.
0%
Mining.
44%
Mont Ward 25%
242
244
Antamoks, 68 ets. n.
Nat Distill.. 18
38
17%
Balatoes, $22, n.
NY. Central. 22 Soc-Vacuum
21
22
Baguio Gold 42% cts. b.
14/2
14
Stan Oll N.J.. 42% Un Aircraft. 14% U.S. Steel 35% 20% West E &
· 42%
422
Benguet Consolidated 3324 b.
15.
15
35%
314
Total Resources
2014 Branches: Canton, Tolshan, Shanghal, Balt & Ohio 17% Hankew, Bangkok & San Francisco, J. I. Case ... 40 London Bankers: Lloyds Bank, Ltd., Con Gas N.Y. 304
Foreign Exchange and Banking Du Pont
80% business of every discription tranEl Bo & Sh. 11%
Current Accounts opened and Fixed Gen Motora Deposits received for one year or Int Tel & Tel 9%
McIntyre .... 46 shorter periods at rates which will be quoted on application.
acted
Safe Deposit Boxes (various sizes) for hire.
LOOK POONG SHAN,
SAFETY FIRST! To Safeguard Your Valuables and Jewelleries.
Deposit them in a Vault
that is really: FIRE PROOF BURGLAR-PROOF DAMP PROOF !
OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of
2314
M 314 30%
London Prices.
The following quotations from Loa-) don were received last night between 5.30 p.m. and 10.30 p.m. London Silver:
Last Close London Silver Spot 20-1/4 and For- ward 20-3/8.
Roon Chuo, F, P. R. Keck, Eng., Wang Our New building is Specially Conness small, Rang 21. Wong Che Son, and Ken Ying structed to provide all of these Im-
Yus Tong. Erg, Chan Ching Shock. FL In
Ra Tong Pa, Esq. Chief Manager,
The Fong. Eng. Binnager,
BRANCHES AND ADENCITA:~~
Muzika
Melbour
AMIT
Realify
Balaris
Bombay
Nagusi
Exlcutta
Sew York
Canton
Danke
Bersarang Hhagyhat Blogspore Boyabays
Paria
Swacow
Kydacy
Tohoku
Кабе
Runon
**tie
Kowloon Land
Halgon
Tokyo
San Francisco
VRANMITH
Jokohamıs
Flaipong Hanko 11nolulu
Telping l'erog
portant Qualities.
You may obtain a Safe Deposit p.m. rate). Box in this most up-to-date Vault for your own use at a very moderate Ren- price). Ital.
•
Inspection Cordially Invited. THE "NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Street and Des Voeux Road, Central,
THE
Every desorpiisa buslar trapected. Lo granted a pored
of Booking and Each AMERICAN EXPRESS COMPANY,
securites. Current
Arcourbe oprant in Toul Currency and Fixed Deportia receled for
shorter parfois in oral and Foreign Cen-le-
her which will be quoted on "application.
Rofe Deppel Cors To It.
KAN TONG PO
INC.
Head Office:-65, Broadway, New York
Chiat HansE.
Hong Bong, al Mareb. 194.
Capital
Surplus Reserves
THE BANK OF TAIWAN, LTD. (TAIWAN GINKO)
HEAD OFFICE:- Talpeb, Formoss Incorporated by Special Imperial
Charter, 1899.
Central Bank in. Formoss Bauk-Nolen Laaned Average amount...Yeo. 40,000,000 |
On and, after August 15th, 1883, the
rate of Interest on Special
Kolmigam
$6,000,000.00 2,087,112.89 1,995,528.81
Mexico City Sim Naples Piraeus
BRANCHES:-
Amsterdam Antwerp
Genoa
Athens
Karone
AMUND
Benik Berlin Nashay
Breme Brussela Chiro Calcutte Cate
Hamburg Havin Heidelberg Interlaken Jeravalem London Liverpool
Faris Taiping Palermo Rotterdam Font Khaoghal
Spullumpton
Current
Deposit will be at 2% p.a. on daily bargh balance and the rate for balance over $10,000 will be quoted un application.) (Maximum rate-13%).
Colombo Copenhagen Dublia
Florence Geners
Lugano LUTOR Verneillon
Singapore
Tiantain
Teormica
Monte Carlo
Vienna
Manito
Venice
Munich
Montreux
Yokobams Zurich
LONDON LISTERS:
Barclays Bank, Ltd, Lloyd Back, Ltd Midland Bank, Ltd.. Weetrainer Dank; Li. The Bank Jim Correspondents in all the principal Commercial Centres throughout the world.
Y. OHNO,
EONG KONG BRANCH:
9, Dee Voux Bead Central. Hoog Hoeg, December 14, 1931,
LIMITED.
Luverne
Branches of American Express Com- pany in Principal cities of United States of America and Canada.
THE YOKOHAMA SPECIE BANK Travelers the use of its "Travelers
Established 1880
Capital (fully paid-up) Yen.100,000,000 Reserve Fund
Yen.122,750,000
Head Office:-YOKOHAMA
.
India bought. China sold. Busi.
Market steady." London Gold 137/11, London/New York Rate 5.04-1/4 (2)
Liverpool Cotton-Oct. 6.71 (1 p.m.)
Liverpool Wheat-Oct. 5/5 (1 p.m. price).
Rubber-Oct-Dec. London
7-1/4 buyers, 7-3/8 seller-Opening.
Last Record London Silver Spot-20-1/4 and For- ward 20-3/8.
·
India bought. China sold. Bust neas small. Market steady.
London Gold 137/11.
London/New York Rate 5.04-1/16 (2) p.m. rate),
Liverpool Cotton-Oct. 6.85 (1 p.m. {price),
Liverpool Wheat Oct. 5/4-7/8. (1 p.m. price).
London Rubber-Oct-Dec. 7-3/18 buyers, 7-5/10 sellors-Opening.
London Rubber Oct.-Dec. 7-3/10 buyers-Noon Market barely steady.
London Forecast Of American Markets.
As there is practically no change in the situation, Wall Street is not ex pected to improve, though there and signs that the market is able to offer resistance to further pressure.
The cotton market is expected to open erratic.
In the wheat and rubber markets easier prices are anticipated.
gone.
Everything BUT YOUR
SAVINGS
5
Benguet Exploration 19 cta. b.
Benguet Goldfield, 20 cts. n.
Big Wedge, 12 cts. n.
Gold Creek, $2 n.
Ipo Mining 82% b.
Itogons $5 n.
Kailan, $20/- n.
Langkats (Single) Sh. $21 n.
S'hai Exploration, Sh. $5 n. S'hat Loans, $61⁄2 x. Raubs, $18 b.
Venx: Goldfeld, $7 n. Docks, etc.
H.K. Wharves, $110 b. H.K. Docks, $12 b. Providents (old) $1.65 b, Providents (new), $50 cta. n. Hongkews, (old) Sh. $322 n. Hongkewa, (new) Sh." $520 n. New Engineerings, Sh. $5 p. Shanghai Docks, Sh. $181 n.
.
t
n.
.
Cotton Mills. Ewos Cottons, Sh.11.40 s. S'hai Cottons (old), Sh. $73% n. S'hai Cottons (new), Sh. $421⁄2 n. Zoong Sings, Sh. $11. Wing On Textiles, Sh.$63 n.
Lands, Hotels, etc. H. and S. Hotels, $5.70. b. H.K. Lands, $58/58% 88. S'haf Lands. Sh. $251⁄2 n.. Metropolitan Lande, Sh. $14 Humphrey, $10.40 b.~ H.K. Realties, $51⁄2 n.
Asia Realties "A", Sh. $140 n.
Asia Resities "B" Sh.$20:n. Chinese Estates, $86% b. Chino Realties, Sh. 81511⁄2 u. China Debentures, Sh. $137 m.
Public Utilities,
H.K. Tramways, $21.65 b. Peak Trams (old), $15`n. Peak Trams (new), $7 n. Star Ferries, $1023⁄41⁄2 r. Yaumati Ferries, $21 b. C. Light (old) $8.90 b.. C. Light (new)" $8.55 b. H.K. Electrics, $71 b. Macao Electrics, $25 m. Sandakan Lights, 58 n. Telephone (old) $25 n. Telephone (new), $12 n. China Buses Sh. $18.20 n. S'pore Tractions, 5/- 6: Singapore Pref., $17/6 b.
Industrials.
Malabon Sugars, $12 n
Cald: Macy. (ord), Sh. $21, n.
ly.
ced .17 to 68.50.
ings.
:
at least a speculative rally and "Stocks:Industrial und utili. excluded from the benefit of any also in anticipation of a ren-
ty issues look a little better, but distribution made before such ssuring statement by Mr. Kennedy, the action of rails, where more debts or claims are proved, Chairman of the Stock Exchange firmness and rallying power is J. HENNESSEY SETH, Control Commission. The latter's desirable, handicaps the situation.
Liquidator. reassurances; however, were some
cables from "Wheat: Firm
Hong Kong, 26th July, 1934. what counter-balanced by the abroad, the Searle Canadian crop spectacular drought, continuing report and the advance in Corn labour difficulties and the Aus encouraged the replacing of, hold- trian political crisis, as a result, of which to-day's market compris- "Cotton:-The South appeared ed a virtual stand-off and we as a seller on any rally. Later, would continue to limit buying to the market became irregular. The weakness, as the market still ap-weather, is still the dominating pears to lack incentive for any factor. worth-while ́rally.
"Silver The market was dull'un- "Bonds: - High-grades were til mid-day when the Trade and easier, while second-grades were Commission Houses started buy- slightly better.
ing for July and September. Prices were about even.
"Cotton:-The political unrest
"Silver:-The market is dull and featureless.
SHANGHAI STOCK MARKET
Wide Fluctuation On Government Bonds.
A.O.F.C. COMMENT.
Shangdai, July 18. in Europe is checking buying to "General Motors has earned 88 The Shanghai Stock Exchange some extent. While there is a
cents per share and Standard was highly selective last Tuesday, possibility of some further reac- Brands 31 been placed on a $8 only a few issues were traded in, tion, we do not anticipate any ma- basis.
prominent among which were In- jor decline.
"Mr. Kennedy, Chairman of the ternational Investment Trust and new Securities Commission, said Exploration, 65,000 of the latter that a sound and broad security issue being placed at 5.05 July, easy open market is needed for the recovery Little more activity was noted on ing. prices firmed. up on local
programme."
the next day, but prices remained trade buying.
mostly unchanged. 1,000 Shanghai from The following telegram was re-Loans were done for July at 6.65 abroad and the replacing of hold- cetved, from New York office dur- and 1,600 at 6.60 cash. 410 Shang- Inga caused an upswing in prices.ing the night:- "Corn: It is confidentially stat- "There was
"Rubber:-After an
"Wheat:-Firm cables
Night Telegram
hai Power preferred changed hands probably a consi- at 140.75 cash. Rubber shares ed that Mr. Bennet. Snr.. thinks derable amount of short covering showed signs of easiness on Thurs-- that private estimates are likely
the
yesterday.
(Continued on Page 7)
day due to slightly lower prices on to show only 1,500,000,000 to 1
"In the silver market there is the rubber market in Singapore. 800,000,000 bushels, which figures but little interest, with no trade in The feature of the day was the would be car dered bullish,
evidence. There are offers at large term offer in Trams "B", Night Telegram
about yesterday's closing prices. Some deals were transacted in The following telegrams were The Control is bidding.
Unlon Insurance shares and in received in
of the course
Hong Kong and Shangual Bank night:
issues. The extremely hot weather "Cotton:-In much of the in-
was made responsible for the sag- ging tendency of Friday's market. Insignificant changes took place during Saturday's session. Rubber ACTIVE MARKET IS shares remained steady, for Shang-
terior and in the West and Central LOCAL DOLLAR STEADY,
Silver Prices Firm,
The local dollar remains steady,
U.S. PESSIMISM SCOUTED
AHEAD.
Mr. E. A. Pierce, head of E. A
hai lands 25 cash was paid and Ex- plorations were placed at 5 cash.
The August settlement on Satur day had a stimulating Influence on
. opening on demand at 1/5 this Pierca & Co., the largest brokerage the rubber section of the market.
morning.
organisation in the country, in a Rates were very firm and in several
Spot and forward silver prices message to his 1.700 employees instances large deals were recorded. remain unchanged, closing prices scouted the "spirit of pessimism" The days business in Shanghai yesterday being 204 and 20%, represent in Wall Street because of Loans was 4,000 shares at 6.65. Federal regulation, and sald that he Trama "B" were done at 41.50 and [spectively..
"looked forward to an active and a small lot of 100 Langkats The London on New York cross healthy security market before the placed at $19.00 July. rate, which closed on Tuesday at
was
Wide fluctuations marked the U.S.$5,04%, closed yesterday at year ended unless there is a -U.S.$6.04, while the the New general flattening out of business, trade on the Chinese Government Bond Market for the wook ended which seems unlikely. York on London rate closed at £-
Mr. Pierce, known as a "bers!" July 14, especially during the first US.$5.04, as compared with -
broker, commenting on rule. by the two days when trading reached un- {U.S.$5.04% on Tuesday.
Federal commission, said "the usual heights. First the market | security exchanges have suffered rose steadily, immediately there- more in the past from flat-footed after, however, the longs were in adherence to threadbare tradition need of help as one of the strongest than they are likely to in the future reactions seen for many weeks was from experimentation at the hands witnessed.
EXCHANGES.
TO-DAY'S QUOTATIONS.
On Lendon-
On T.T. and demand 1/61⁄2 4 months' sight ... 1/6% Credits 4 months'
sight
On New York...... Ou demand
Manager.
All classes of Commercial Banking Transactions undertaken.
RENT
Personal Investment accounts handled.
FOOD
The Company offers to intending Cheques" and Letters of Credit and.) in addition, the world-wide services of its thoroughly equipped. Travel De partment.
1/6/
CLOTHING
3634
Credits 60 d'a y a '
HEAT
Bight
38%
On Paris
C. HL BENSON,
General Manager,
TAXES
On demand
557
Cald: Macg. (Pref.), Sh.$191⁄4¤.
Credits 4 months"
sight
590
WATER
On India-
On T.T. and demand 96%
·110
On Japan:-
On demand
122
On Manila
On demand
794
On Singapore..
'On demand!
62%
On Batavia-
Insurance All Classes LOWEST RATES. S American Asiatic Underwriters
Branches and, Agencies at:
Alexandria
Nagasaki
Is It
Insured? ?
Batavia
Nagoya
Barlin
New York
Bombay
Osaka
Calcutta
Paria
Canton
Paiping
Dairan (Daby):
Hanburg
Hankow
Harbin
Hong Kong
Heinking
Fengtien (Makdon) Rio de Janeiro
Honolulu
Karachi
Tandon
Los Angeles Marila
San Francisco
Seattle
SEMBERng
Shanghaf
Singapore. Soerabaya Sydney Tientsin
Tokyo Tsingtat
Yingkow intorast allowed on treat Ao-
Moji
Deposits received for fixed raviod! ručnu, to ba obtained on application
KISHIN Hong Kong 11th AMD, 188L
Fed. Inc., U49.A.
Head Office
17, The Bund
Shanghai.
General Agents
HE. Ofice Aala Lifo Building Tel. 30214
Bring Your PRINTING Problems to US.
CHITS
SAVINGS
SAVE SOMETHING
START NOW
UNDERWRITERS SAVINGS BANK
FOR THE FAR EAST,
INC.
Azia Life Balding,
Hoạt Koar. Tel: 80234.
Canton Ices, $2.70 m.
8.
Cements, $2.65 b. H.K. Hopes, $41⁄2 m....... Stores, etc. Dairy Farms, $25.90 b. Watsons, 25.5 bị Der. A. Wings, $1; a. Lane, Crawfords, 84.80 n. Mackintosha, $21- Sinceres, $10 Wm. Powells, 70 ets. n. Wing On (H.K.). $108 n.
Miscellaneous.. H.K." Amusements, $4 n. Entertainments, $71⁄2 ni S.C. Enterprises, $1 b United, Theatres, Sh. $2 n. Micso "Greyhounds,”; $2. n. Construction (old) $1,60 b. Constructions (new). 15 cts, b. H.K. Govt. Loans; $812% prem. b. Wallace Harpers, $14 n. Ch. Govt. 5% 1925 GOBda
Gold Blver 94 cts, b
Govt. Loan, 2% prem., 2% 85,
On Shanghai-
On demand
On demand On Saigon
On demand On Bangkok--- On demand
[Bovereigns bank bu
wing rate
Bar Silver per oz.
Bar Silver in Hong
Kong Ge
Copper Cash
55%
Domk
доп.,
Copper Cents..11% prem. Rate of Native Inter 8% pa Chinese Sub Coin 90% dis Hong Kong Bub. Coin par.
"
of a commission with a fresh view The rest of the week found the point; and I maintain that there is market alternating with gafas and no sound reason for expecting the losses of substantial figures. After. exercise of unfair method in the all the wide fluctuations the market |administration of the act"
closed the week slightly lower than
High for 1932-34 Low for 1932–34
it did the preceding one.
...July 11, 1984 - 25.62
„July 14, 1994
..Jan. 28, 1952
32.80
25.49
July 17, 1984
25.52
S. E. Levy & Co.
UNDERWRITERS AND DISTRIBUTORS
SECURITIES AND COMMODITIES BOUGHT AND SOLD ON COMMISSION
DAILY-NEW-YORK-STOCK AND COMMODITY SERVICE
Members:
NEW YORK COTTON EXCHANGE COMMODITY EXCHANGE, INC. **
CHICAGO BOARD OF TRADE
CORRESPONDENTS FOR WHITE, WELD & CO., NEW YORK
7 ICE HOUSE STREET, HONG KONG
Tel. 80101 and 80108
Tel. Address: Balco