BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorized Cap
$58,000,000 Ied and Pulty Paldup 28,095,000 Herra Pundit -
Sterling Banda £1.500.000
$10,000,000
Reserve ability of Proprleisten $30,000,000 HEAD OFFICE, HONGKONG.
BOARD OF DIRECTORA.
Hon. Mr. C. . H. Machia
Chairman,
8. . Duriwell, Bug. Deputy ChairmaĄ.
Hon. Mr. W. TE. Bot.
A. 11. Compton, Esq. W. 1. Hasaich. Day. 0.0. Kalghi, Kog.
AMOY BANORDE BATAVIA BOUDAY CALCUPPA
CANTON CHEFOO COLOM DO
DALGON
Foochow
HAMBURG
HANKOW
HAUBIN
BONDKEW
ILOILO
On
JOHORS
IOBE
KORLION
6. Makin. Eng.
K. H. Burrison, Bag,
T. E. Pastor, Esq.
V. M. Oragbarn, Fag.
Chief Munger.
BRANCHES:-
LONDON
LFONS MALACCA
MANILA
SCAR (Laboral
WURDEN
NEW YORK
PRIPING
PENANG
DANDON
SARGON
SAN FRANCISCO
KUALA LUHTUB
SHANOILAL
SINGAPURE
SOURADAYA
BUNE PATANI
TIENTSIN
TOKIO
TNINGTAO
YOKOHAMA
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter, 1858.
HEAD OFFICE: LONDON
THE CHINA MAIL, THURSDAY, AUGUST 9, 1934.
Ommerce and Finance
LOCAL SHARES.
TO-DAY'S QUOTATIONS.
The following is the list of local share quotations issued to-day:
Banka.
Paid-up Capital
Reserve Fund
..£3,000,000 £3,000,000
Reserve Liability of Pro-
prietors
£3,000,000
Agencles and Branches:
Alor Brat
Infle
itangosa
Amritsar
Ipoh
Balgen
Barko
Karachi
Sanwrang
Bambar
KILDE Kabe
Serat
Stanghal
Cateul Lo
Kuala
Gingerore
H.K. Bank, $1815 5.
"
Canton
Lumpur
Sitiawan
Cespons
Kuching
Boy
Cebu
Sode
Taiping
Colomba
Muntin
Tirulin
Dall
Medara
Tongkah
Haiphong
New York
(illuker
Hamborg
Pr
Taington
Wanton
Pak
Yokohama
Harbin
Panens
Zamboang
Current Arenatica Oponed in feral Currency and Fred Duprite reunited for one year of shorter perioris in Local Company and Harling tors which will be quoted an application.
Bank Kang, th Apell, 1984,
Hong Boat
Porsign Exchange and General. Banšiną besinong trameted.
Current Andunta opened and Fixed Deposite received for one your 'or shorter perfido as "estas which will be gooled on application.
W. H. E. THOMAS,
Acting Manager. Hong Kong, 20th February, 1934.
THE BANK OF CANTON, LTD.
Established 1912. Head Office:-Hong Kong.
$11,000,0001 Authorised Capital Paid-up Capital
8,655,000 Total Resources ... 32,170,492 Branches: Canton, Toishan, Shanghai, [Hankow, Bangkok & San Francisco.
London Bankers: Lloyds Bank, Ltd.,
Foreign Exchange and Banking
HONG KONG SAVINGS BANK. Business of every discription trans-
The Busted the shors Bank in conduct. ad by the ONG KONG AND BUANGHAI BANKING CORPORATION.
Rules may be PO THE HONG KONG AND SHANGHAI
abtained on #ppllention.
BANKING CORPORATION
V. M, GRAYBURN,
Chint Manser.
Hong Kong, 3th February, 1984.
THE BANK OF EAST ASIA, LTD.
Authorised. Capital Pablo Capital
$10,000,000,00
| 3,300 BOW. Berry Wadsad 4 Prodis $1,184,000
HEAD OPPIFT: HONG KONG
22. Das Vinst Howd Central,
BOARD OF DIRECTONS:-
Bir Sheuson Clue, Chalgası
Li Roos Chua, Exp. P. R. Krok, Esq. Wook Fun Tong. Fag.. Chan Ching Shok, Exg, Ya Las Benx, E., Wong Chu Son, Faq. and Ban P. Eng.
Amy
Kan Toug Po. q.. Chief Maget. 1 T Forg, Esq. Hanager.
BRANCHES D AGENCIES1-
A4Altr
Melbourn
Serang Shanghai Singapor
bourabaya Bvalor
Settl
Fin
Bombay
Koguk
Caleuita Castor
New York
Dan
Parta
Itankow
Polping
Honolulu
Penang
Inbe
Baigna
San Frenlace
Halpkona
Eowloon Landra
hydn:? Taikoku Tientala Takes
Vancouver Yokohama Bror description of Banking and Exchange Loans granted on approved build traneanted.
mscrition.
Current Accounts opened in faxal Currency Bad Fixed Deposits received for one Jell shorter prinde in Local and Foreign Currenlan Trum which will be quoted on application
Beft Depollen To
BAN TOXO Po
Chief Stansgat
Bong Ron 1st March, 14.
Jacted.
Current Accounts opened and Fixed] Deposits received for one year or shorter periods at rates which will be quoted on application,
Safe Deposit Boxes (various sizes) for hire.
LOOK POONG SHAN.
Chlat sanger.
SAFETY FIRST !
To Safeguard Your Valuables and Jewellerles.
Deposit them in a Vault
that is really:
FIRE - PROOF BURGLAR-PROOF DAMP PROOF!
OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of Our New building a Specially Con- structed to provide all of these Im- portant Qualities.
You may obtain a Bare Deposit Box in this most up-to-date Vault for your own use at a very moderate Ben- Ital.
Inspection Cordially Invited. THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Btreet and Des Voeux Road, Central.
THE
AMERICAN EXPRESS COMPANY, INC.
Head Office:-65, Broadway, New York
Capital
Reserves
THE BANK OF TAIWAN, LTD. Surplus
Head Office:-Talhoku, Formosa, Incorporated in Japan by Special
Imperial Charter, 1899.
Central Bank of Formosa, Notes
Japan: Kobe, Osaka, Tokyo, Yoko-Bombay
$8,000,000.00 2,087,112.69
1.995,528.31
l'aer Retladara
BRANCHES:---
issued Average amount Y.46,000,000
Branches and Agencies,
Amsterdam Antworp Alban Amvan Bealse Eberlin
Genom Glow The Hague
Harane
Hamburg
HAPIN Heidelberg
Milan Nice Naples Piraeus Paris Papia.
Breman
Intactstep
Brussala
London
Calcutta.
Liverprot
Zugang
Mo
Monte Carlo
Bianlia
Yakulama
Mugich
Zurich
hama, Keelung, Makong, Nanto, Shoka, Sinchiku, Taichu, Tainan, Taito, Takao, Tamsul, Toen. China: Amoy, Canton, Foochow, Han-
kow, Shanghai, Swatow.
Others: Bombay, Hong Kong, London, New York, Singapore, Batavia, Samarang, Soerabaya, Dairen.
On and after April 20th, 1994, the
rate of Interest on Special Current
GELOJ 197127
Cairs Cannes Columbu Copenbigge Lusce Dublin Edlaburgh Florencs Селата
Montreu
B
Shinghs.
Southampton Singapor Twit Taormina Vienna Venlos
Deposit will be at 14% p.a. on dafly Branches of American Express Com balance and the rate for balance over pany in Principal cities of United $10,000 will be quoted on application States of America and Canada, (Maximum rate—1%).`
Y. OHNO,
Manager.
Hong Kong Branch
3. Des Voeux Road, Central.
All classes of Commercial Banking Transactions undertaken.
Personal Investment accounts handled,
THE YOKOHAMA SPECIE BANK Travellers the use of its "Travelers
LIMITED.
Established 1880
Capital (fully paid-up) Yen.100,000,000 Eeserve Fund
Yen.122,750,000
Head Office-YOKOHAMA
Branches and Agencies at: Alexandria Batavia
Berlin
Bombay
Nagasaki
Nagoya
New York
Osaka... Parts Pelping
Calcutta Cantan Dairen (Dalny) Rangoon Fengtien (Mukden) Rio 16 Jenstro
Hamberr
Hankow Harbin
Hong Kong
Honolulu Brinking Karachi
Kobe
London
Los Angeles Manila'
Hojl
San Francisco Seattle Semarang Shangha
Singapore
Soeracays
Bydney Tientab Tokyo
anlagtan
Interest allowed
Depoalta received. for races to be obtained
KISHT
Kong, 11th Aprž
The Company offers to intending
Cheques" and Letters of Credit and, In addition, the world-wide services of Its thoroughly equipped Travel De partment.
C. H. BENSON,
General Manager.
H.K. Bank (London), 136 n.
1 n
Chartered Bank £15 n. Mercantile Bank, A. & B Mercantile Bank C, £13% n. Bank of East Asia, $84 n. Am: 0. Finance Corp., Sh. $20 n. China O. Fin. Ord., Sh. $4 m. China O. Fin. Pref. Sh. $5.n
Insurances.
Canton Ins., $290 n. Union Ins., $550 m. China Underwriters, $14 b. China Fire Ins., $510 n. H.K. Fire Ins., 3260 n. International Assce. $6 m.
Shipping. Douglases, $48.65 m. H.K. Steamboats, $7 n. Indo-Chinas (Pref.), #80 n. Indo-Chinas (Def.), $83 m. Shell (Bearer), 347/6 n. Union Waterboats, $13% b.
Mining.
Antamoks, 60 cts. sa. Balatoes, $36
Baguio Gold, 48 cts. n. Benguet consolidated $40 n.
- Benguet Exploration 19 cts. n. Benguet Goldfield, 20 cts. n. Big Wedge, 12 cta. n. Gold Creek, $2 n.
Gold River, 24 cts, sa. Ipo Mining $21⁄2 n.
Itogons $5 n.
Kailan, 21/3 n.
Langkats (Single) Sh. $21 n. S'hal Exploration, Sh. $5 n. S'hai Loans, $8%1⁄2 n. Rauba, $18.40 n. Venx: Goldfield, $7
Docks, etc. H.K. Wharves. $113 en. H.K. Docks, $181⁄2 b. Providents (old) $1.85 b. Providents (new), 350 cts. n.
يعطيك الأحمد الله
Hongkews, (old) Sh. 88121⁄2 n. Hongkews, (new) Sh. 3810 n. New Engineerings, Sh. $5 m, S'hai Docks, Sh. $1251⁄2 n.
Cotton Mills.'' Ewos Cottons, Sh. $10.80 b S'hai Cottons (old), Sh. $73% n. S'hai Cottons (new), Sh, $43 n. Zoong Sings, Sh. $11. Wing On Textiles, Sh.$63 n.
Lands, Hotels, etc.
H. and S. Hotels, $5,65 b. H.K. Lands, $57% 1. S'hai Lands, Sh. $251⁄2 n. Metropolitan Lands, Sh. $14 n. Humphreys, $10.40 sa.
H.K. Realties, $52 n.
Asía Réalties"A", Sh. $140 n. Asia Réalties "B" Sh:320 n. Chinese Estates, $85 b.
China Realties, Sh. $15% n. China Debenture, Sh, $137′′n.
Public Utilities. H.K. Tramways, $21,20 b. Peak Trama (old), $15. Peak Trams (new), 37 n. Star Ferries, $102 n. Yaumati Ferries, $21% n. C. Light (old) $8.90 'sa.
| C. Light (now) $8.40 5.
H.K. Electrics, $72 s. Macao Electrica, $25 n. Bandakan Lights, $8 n. Telephone (old) $24.60 s. Telephone (new) $11.80 n. China Buses Sh. $18.20 .. S'pore Tractions, $5/-n. Singapore Pref. 817/- b.
Industrials. Malabon Sugara, $11 n... Cald: Macg. (ord), 8h. $21 n.: Cald: Macg. (Prof.), Sh.$194. Canton Ices, $2.70 n. Cements, $2.65.b... H.K. Ropes, $4.60 m.
Stores, etc. Dairy Farms, $25% b. Watsons, $5.70 b.
Is It Insured?? Der. A. Wings, $1 n..
|07 Ipsurance — All Clanses
LOWEST RATES: American Asiatic Underwriters
Fed Inc., USA..
General Agents
Head Office
17, The Band,
Shanghal
Asia's Life
A:Tel:29234
RAIL TRAFFIC RESUMED
cation, Railway was resumed
at following the collision.
red perioda
Traffic on the
anagers wan on Wedn
people were died.
Lane, Crawfords, $4.80 n. Mackintoshs, $21. n. Sinceres; $10, n Wm. Powells, 70 etsin. Wing-On. (HX.) $108/n. /
Miscelaneous.
H.K. Amusements, $4 n Entertainments, $71⁄2 n. S.C. Enterprises, $1 n. m United Theatres, Sh. #2an Macao Greyhounds." #2 n.-- Constructions (all) $1.85 b.) Constructions (new).75 cts, D.,
78 cts. sa.
H.K. Govt. 4% Loan 6% prent
Wallace Harpers, 37% n
ankow
day
H. Govt. 82% Loan 2% prem
6,
several
Ch: Govt 5% 1925 GBBAS-
$85% I
LOCAL DOLLAR ADVANCES.
Silver Prices Rise.
*
The local dollar has ad- vanced, opening on demand this morning at 1/6, Spot silver has advanced %, and forward silver 1/16, closing prices yesterday being 20 15/16 and 21, respectively.
BETTER STRENGTH IN STOCKS
NEW YORK STOCK EXCHANGE
Commodities Soar To S. E. Levy And Co. And
A.O.F.C." Quotations.
New High.
BOND PRICES WEAKER
New York, Yesterday. The following quotations from New York have been received by Mesara 8. E. Levy and the American Orientai Finance Corporation.
}}N. Y./Lond-
Last
Close Opening Noon
New York. To-day. With the exception of bonds, which were off .29 to 93.17, prices showed better strength on Wall Street yesterday. Industrials and Įralis were up 1.50 and 47 to 88.97 don 5.00% 0.00% 5.06%
and 33.93, respectively, while utl-Cotton Oct.
Dec. litige improved 25 to 20.10.
Silver Sept. sharply to a new bigh 1983-34 Silk Doc.
Dec. ...... 48,40 level, being up 1.12 to 63.90.
The commodity again advanced
5. E. Levy And Company's Report
In their market report, Messrs.C. Wheat
Sept S. E. Levy and Company, corres~|
Dec.
Dec.
The London on New York cross- rate, which closed at $5.06% on Tuesday, closed yesterday at
-U.S.35.05% while the New Pondents for Mesars. White. Weld C. Corn Sept,
and Company, New York state: York on London rate closed at
"Stocks: The market firmed up W. Wheat -U.S.85.05, as compared with
Oct. ...... the somewhat on the advance in -U.S.$5.06% on Tuesday.
price of wheat and on further in-STOCKS:- flation talk, Business done Amer Smolt Anac Copper |690,000 shares,
Auburn
EXCHANGES.
TO-DAY'S QUOTATIONS. On London-
On Shanghal-
"Bonds:-High-grades.
are
13.20 13.34 13.36
48.00
18.21 · 19,20
13.44 48.25
1.13
Rubber Sept, 15.55
Dec,
15.00
48.70 1.13 15.03 16.98
1,08%
1.08%
1.10%
1.10%
76
75/4
78
78%
93%
9316
334
11%
20
19%
'344
30%
27%
85%
10% 28
11
28
936
04
474
47
20%
21
17%
171
20% 18
20 13%
42%
15/
83/4
$34
30
}[」 ། #11}E།}ཚོ; aཚོ
tin- Balt & Ohio. aettled and prices drifted lower-J. T. Case The market for second-grades was Con Gas N.Y. somewhat easier.
Du Pont "Cotton:--Trading was extreme-El Bo & Sh
Gen Motors. ly heavy both before and after Int Tel & publication of the Government Tel Bureau report. Several houses McIntyre which have acted for the Govern-Mont Ward
Nat Distill.. ment in the past were particular N. Y. Cen- ly heavy sellers, causing rumours tral of the possibility of Government Soc-Vacuum aelling, Sentiment was extreme-Stan Oil N.J. ly bullish and, if the present u. 9. Steel.
Un Aircraft. heavy speculative buying con- West E & M 30 30% tinues and the drought should also
14%%%
36%
OPPOSITION
TO ECONOMIC
CANNIBALISM.
Public Interest Basic Policy Of A.D.A.
SPECIAL TO CHINA MAIL...” (By Telegraph, Copyright, Telegra phic Messages Ordinance, 1894, · Ran |ceived August 9, 10,09 a.m.)
Olcott Beach, New York, To-day.
In a speech to farmers here, yea terday, Professor. Tugwell, of the Agriculture Department, said that the only kind of profits the Ad- |minlätration seeks to destroy "are
those obtained via economic canni-. balism, earned through unfair ad- vantage of another's weakness and ignorance of necessity."
He said that public interest was the Administration's basic policy. United Press, per 8. E. Levy and Company.
NO SACRIFICE TO INDUSTRY Washington, To-day.
The United States Secretary of. 334/2 11% Agriculture; Mr. Henry C. Wallace, In a statement to the Administra- tion, declares that he will not sacri- 27fice agriculture to help industry in 80% reciprocal trade agreements.-- United Press, per S. E. Levy and Company.
continue, higher prices seem likely.
London Prices.
"Silver-Prices were strong on
The following quotations from
an increased volume of buying London were received last night be- and the market moved to new tween 5.30 p.m. and 10.30 p.m.
On T.T. and demand 1/6
4 months' aight ...
1/6/
Credits 4 mantha'
sight
1/6%
On New York-
On demand
37%
Credits 60 days'
slykt
39%
On Paris--
On demand
5721⁄4
Gradite 4 months'
sight
605
On India-
On T.T. and demand 994
On demand
100%
On Japan:--
On demand
1261⁄4
On Manila→→
On demand
752
high levels. The Government was Silver:- the principal buyer. done-153 contracts.
Business
On Singapore
63%
On demand.
551⁄2..
On Salgon
On demand
571⁄4
On Bangkok-
On demand
123%
hels.
1/6%- 20 15/16
HOM
now.
On demand
On Batavia
Bovereigns bank buy. ing rate... Bar Silver per oz. Bar Sliver in Hong
Kong Adj Copper Cash
Copper Cents
1% prem.
Rate of Native Interest 8% pa. Chinese Sub. Coin 282% di8. Hong Kong Sub. Coln par.
WHOLESALE PRICES
SHOW DECREASE.
Board Of Trade Figures.
London, To-day.
"Rubber: The market steady throughout the day. ness done: 608 lots. "Wheat:-Prices
were
Spot:-2-13/18, (Last close); 20- 15/16, (Last recd.); 1/8d. (Change);
up,
ruled Forward-20-16/18, (Last close); Bust-21, (Last rood.); 1/164, (Change); up.
Silver Report:-
America is the chief buyer. China erratic sold Market steady.
after early profit-taking, but the Gold:-13-7/10, (Last close); 13- market closed steady. Purchases 8-0%, (Laat recd); 2-1/23. (Change); are recommended on recessions, up.
London/New York Rato:-5.08%. Tuesday's sales:-25,481,300 bus (Last close); 5.95-3/18, (Last recd.);
3/16d. (Change); down.
Liverpool Cotton-Oct-8.88, (Last (close); 6,93,
(Last recd.); ,05, (Change); up.
London Rubber-Oct./Dec.:-7- (Last close); 7-, (Last recd.); 'un- changed.
"Steel operations in the Chicago area were 81 per cent of capacity, which is unchanged from last week.
(Continued on Page 7)
PIG IRON AND FERRO ALLOYS IN U.S.
1933 Decrease Shown
SPECIAL TO CHINA MAIL.
(By Wolegraph, Copyright, Telepre phis Messages Ordinance, 1894, Be |ceiped August 9, 10.08 ans.)-
Washington, To-day
London Rabber-Oct./Dec-7-9/16, (Last close); 7-%, (Last recd.); 1:16d., (Change); up.
Market Forecast.
>>>EXEXZXEXEX
Everything
gone.. BUT YOUR SAVINGS
RENT
FOOD
CLOTHING
HEAT
TAXES
-
WATER
CHITS
SAVINGS
SAVE SOMETHING
START NOW
A forecast from London on the pro- UNDERWRITERS
bable trend of the New York markets) states:
"Wall Street is expected to open steady at around yesterday's levels; the inclination being to await the President's pronouncement regarding future Government policy.
The Board of Trade Journal states that, on the balance, the average of wholesale prices in July of pig iron and ferro alloys shows Bureau figures to be bearish and the showed a decrease of 0.1 per cent, 18,268,982 tons, valued at U.S.$204, comments of a bullish nature. In the as compared with June, and an in-056,320 and compared with 18,298,-rubber market higher prices are anti-
cipated." crease of 1.8 per cent. over July 716 tons valued at U.S.$296.212,048, 1938-British Wireless Service.
"On the commodity markets; wheat but prices will be ultimately higher; depends on the cotton Bureau report, A census of the 1933. production h the cotton market we expect the
CURRENCY INFLATION NOT CONSIDERED LIKELY
In 1981.
For the first six months of 1984, exports of American tin plate was 97,187 gross tons, an increase of 75.2 per cent, on the corresponding New York, To-day-In spite of period of last year-United Press, the selling of dollars by Europe, per S. E. Levy and Company. Wall Street disbelieves an imminenti increase in the gold price and re- gards currency. Inflation as unlikely, pending a fall in financing-United Press, per S. E. Levy and Company.
EXPORT SHORTAGE-
WHEAT EX
GENERAL MOTORS'
"IMPROVEMENT.
Best July Figures Since 1929,
New York; To-day-Dutch trade! `........ SPECIAL TO CHINA MAIL ers, are predicting a shortage to the export of wheat in all large countries except Argentina.
United Press, per S. E., Levy and Company:
STOCK EXCHANGE SEAT SOLD
(By Telegraph, Copyright, Telegra |phic Messages-Ordinance, 1896, Re-
ceived August 10,08-aan)- By
New York, To-day, General Motor Corporation” sales for July were 134,824 cars, the highest for any July since 1929, and compared with 146,881 In June and 108,918. Jast, July.
New York, To-day-A seat on the Production for the seven months, Stock Exchange was sold on Tues-of 1934 was 884,600 cars, as against day for U.3.895,000, which is un-105,540 cars for the corresponding changed on the last pripe United period of last year United Press, Press, per 8. E. Levy and Company, per S. E. Levy and Company.
Capital.
THE SHANGHAI COMMERCIAL
· Reserve Fund
Depoalty:
Creat
* Fixed #aesthe
Gift Honda (Basings Cer Accrued Interest Payable Net Profit for the Half:
SAVINGS BANK
FOR THE FAR EAST,
INC.
Asia Life Building,
Hong Kong.
Tel. 30284.
S. E. Levy & Co.
UNDERWRITERS AND DISTRIBUTORS
SECURITIES AND COMMODITIES BOUGHT, AND SOLD ON COMMISSION
DAILY NEW YORK STOCK AND COMMODITY BERVICE
Members:
NEW YORK COTTON EXCHANGE COMMODITY EXCHANGE, INC. ⠀
CHICAGO BOARD OF TRADE
CORRESPONDENTS FOR WHITE, WELD & CO. NEW YORK;
VICE HOUSE STREET, HONG KONG
Tel. Address: Belco
"Tel: 80101 and 80103.
*SAVINGS DEPARTMENT
SAVINGS BANK, LTD.
* CONDENSED BALANCE SHEET AS AT 30TH-JUNE, 1934. LIABILITIES
The publication of the Financial Condition of our
National Governmm; of China.
$500,000.00 *: 600,000.00;
ONG KONG BRANCH: No. 7, IGE HOUSE 8TH
IngHand
– At Commercial Departu
*Ledus:Bədire
Accrued Inter
Accounts En
Value
ASSETS
$4,440,207.28 9,009,934.95
$15,450,202.24€
PHONES: $1481-82-81.