G

BANKS

HONG KONG AND · SHANGHAI BANKING CORPORATION.

Amborland Capital $4,000,000 head and Fully Pald-up ...,000,000 Barra Funde

Berting #ver

£6,500,000 $10,000,000

Bosure Liability of Posprinters $30,000,000 HEAD OFFICE, HONGKONG,

HOARD OF DIRECTOR,

Bou, Mr. 0, 0. B, Macklą

Cinirano.

B. Dodwell, Bay,

Deputy Chairman.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1853.

HEAD OFFICE; LONDON

.......£3,000,000

Paid-up Capital

Reserve Fund

£3,000,000

Reserve Liability of Pro-

prietors

.$3,000,000

Agencies and Branches:

Aloe Brut

[Jailu

tengoan

Amriter

Ipak

Kaigon

Wangisk

Karabi

Neig

Hon. Mr. W. II. Ball.

Balaci

Klang

Senio

A 11. Comptos. Eng.

f. S. Morrison, Rag

Bainbat

Каба

hangh

T. E. Pearce, Leg

Calcults

Bunla

Bingapore

DO. Balgh, 2.q.

Canton

GABON

1 Qaba

Stadena

Taiping

1 Calamb

Manila

Tieglsin

Delki

Mede

Tongkah

Haiphong

Kaw York

(23bukur)

11mbar Waskow

Paiping

Peking

Torahama

Zimbinga

AZOY

BALAVIA

DAREN

11. "Miekin, Esq.

Lutapur bing

Keira Bounchaya

THE CHINA MAIL, FRIDAY, OCTOBER 12, 1934

Commerce and Finance

NEW YORK STUCK EXCHANGE

S. E. Levy And Co. And A.O.F.C. Quotations

The following quotations from New York have been received by Messra. S. E. Levy and the American Oriental Finance Corporation.

Last

MANDROK

BOMBAY

CALOUTIA

ANTON QUEFUO

COLUMBU

BAIPHONG HAMBUNG ILANKOW HARBIN

BUNG KEW

LPUE

JULONE

*O*X

KOWLOON

V. M, Grayburn, Kay.

Chirl Sinusger.

LANCHE6-

LONDON 1.YUNS MALACCA

MANILA

STAR (Fukuen)

MUADES

NEW YORK

PEAPINO

PENANG RANODON

SAIGUN

SAN FRANCIROO

KUALA LUMPUR

SHANGHAI

SINGAPOUR

SUSGEL PATANI

YOKOHAMA

Current Accounts opened to Local Outroney

Fred Deposita received for one you or shorter periods to Local Company and handing sers which will be quoted on appĒratku. Hong Kong, lath April, 1994.

·Hong Long,

||Foreigs"

"Exchange and Sonses) Banking burfium) stanfacted.

Gartent Accounts opened and Flad Depot sacuvad for one yes or abortar perioda al rutor which will be quoted on application.

W, H. E. THOMAS,

Acting Manager. Hong Kong, 20th February, 1934.

THE BANK OF CANTON, LTD. Amer Smelt... 35–334

Established 1912.

BOERABATA

TIESTHIN

TOKYO

THENGLAD

HONG KONG SAVINGS BANK,

The Buricies of the above Banh lo conduct-

by the HONG KONG AND SHAKUHAI MASKING CORPORATION.

abris sed on application.

Hular may be

PH THE HONO KONG AND SHANGHAI

BARKING CORPORATION

V. M. GRAYBURN,

Chief Menager.

Big Kung 20th February. 1984.

THE BANK OF EAST ASIA, LTD.]

Antred Capital

Pup Capital

and Undivided Profits

$10,603,600.00

82,114,200,00

HEAD OFFICE-HONG KONG

12, Das Tx Road Castral

BOARD OF DIRECTORS:-

ruson Chow, Chalaiss,

14 Sun C. Chen Ching Shot, Eli Lan

Eng., R. Iwok, vg, Wour

Tun Tong, Erg

Sang K., Wong Chu hop, Eng. And Kan Yio

Ras Tang P. Yay. Chief Maunger,

Li The Four. Eng., Huanger.

DRANCHES AND AGENCIES:-

Kimat 33.tur

Nagmaaki

Souilla Semarace

المنام معبرة

Blagapore

bourabays Baby

Los

Batavia

Boubay UNCHE

New York

Uraka

Maphor

Paris

Peiping

nydary

Hobotla

Penal

Taikoku

Zobe

Hangos

Tieslie

K

Helgon

Tobra

Lumin

Sea France

Verdonar

Yakshame

Etshange bus canoted. Los granted on approved |

Prug description of Banking and

B

Accounts pesadi

Cuchray

Lad Ourrene Fired Deposite Montred for con your a por pain Lou and Foreign Currencias

serma witch will be Nale Deposit Joser To Luted ob plinacion.

KAN TONG PU,

Chiat Kionger. Hong Kong. Iar March, 124.

THE BANK OF TAIWAN, LTD.

Head Office:-Talheko, FormHILL, Incorporated in Japan by Special Imperial Charter, 1899.

Central Bank of Formosa, Notes

issued Average amount Y.45,000,000

Branches and Agencies, Japan:-Kobe, Osaka, Tokyo, Yoko- hama, Keelung, Makong, Nanto, Shoka, Shinchiku, Taichu, Tainan, Taio, Takno, Tantsui, Toen, Karenko Kagi, Heito, Giran. China-Amoy, Canton, Foochow, Han-

kow, Shanghai, Swatow. Others: Bombay, Hong Kong, London, New York, Singapore, Batavis, Samarang, Soerabaya, Dairen.

On and after April 20th, 1984, the rate of Interest on Special Current Deposit will be at 11⁄2% p.a, on dally balance and the rate for balance over $10,000 will be quoted on application, (Maximum rate-1%).

Y. OHNO,

Manager.

3. Des Voeux Road, Central.

Hong Kong Branch

THE YOKOHAMA SPECIE BANK LIMITED.

Established 1880

Capital (fully paid-up) Yen.100,000,000 Reserve Fund

Yen.124,250,000

Read Office:--YOKOHAMA

Branches and Agencies at:

Alexandria

Batavia

Berlia

Bombay

Calcutta

Canton

Dairen (Dalny)

Nagasaki Nagoya New York

Osaka Parli Peiping Rangoon

(Mukden) Rio de Janeiro

Hong Kong Honolula

Londen

Los Angelos

Manis

MON

San Francisco Seattle Semarang

Singapore

Soerabaya

LOCAL SHARES.

TO-DAY'S QUOTATIONS.

The following is the list of local share quotations issued to-day:

Banks.

H.K. Bank $1660 M. H.K. Bank (London), £137% Chartered Bank £15% n. Mercantile Bank, A. & B. £3034 Mercantile Bank C. £13.

Bank of East Asia. $03 n.

n.

WALL STREET OUT OF RUT?

Broad Advance In Opening Rally

SENTIMENT CHEERED

}

WORLD BETTER OFF

· ECONOMICALLY

Geneva Official's Statement

SPECIAL TO CHINA MATI.

NEW ADVERTISEMENTS

PUBLIC AUCTION

TH

HE Undersigned have received instructions to sell by Public

(Du Telegraph, Conyright; Telegra | Auction ¡phic Message Ordinance, 1894. Em

ceived October 12, 5.46 mm)

In the Stock Market yesterday]

San Francisco, To-day. there was a benad advance in. al Mr. Harold Butler, Director of brisk opening rally, in which many the International Labour Office at hlocks of thousands of shares or Geneva, yesterday told the Ameri- more were changing hands, states alcan Federation of Labour Conven- special wire to Messrs. S. E. Levy tion that the world, was economi- and Company. Sentiment is cheer-jeally better than it was 18 months ed. by the persistent belief that ago.

ON

1

Wednesday, the 17th. October, 1934

commencing at 2.50 p.m.

at their Sales Room, No. 35, Hankow Road, Kowloon

A Quantity of VALUABLE HOUSEHOLD

FURNITURE

|comprising:-

Teak hatatanda, Chesterfield

Future Government policies will be He said that a code of fair in- n. more helpful to business, and fur-ternational competition, and shor-couch and chairs, Teak dining

ther advances seem indicated. ter hours, were essential to world table, Tenk sideboard,

Am: O. Finance Corp., Sh. $20 n. China O. Fin. Ord., Sh. 4 n. China O. Fin. Pref. Sh. $5 n.

Insurances.

NY/London Cotton Dec.

Mar.

Silk Dec.

114

Close Opening 1 am. 4.807, 4.89% 4.89% ... 1221 12.23 12.36 1234 12.40 12.47

114b

Rubber Dee.

1398

14.35

Mar.

1437

14.74

C. Whent Dec.

99%

100%

Canton Ins., $285 n.

May.

99%

100%

C. Corn Dec.

75$

70%

Union Ins., $530 n.

May ......

78%

704

China Underwriter, $1.15 n.

W, Wheat May . 85%

8015

China Fire Ins., $510 a.

STOCKS:

35%

Auburn

25

26%

Con Gas NY

*8. 281

Bead Office:-Hong Kong.

Da` Port

2835 914 917% 9212

Authorised Capital

El Do & Sh $11,000,000 Gen Motors

10 30%

10% 11 30% 50%

Paid-up Capital

10%

2014 4014

2034

46%

Total Resources

8,865,000 Int Tel & Tel. 9 12,170,492 Loew's Ine.... 29%.

46

Branches: Canton, Tolshan, Shanghai, Melntyre Hankow, Bangkok & San Franciaco, Mont Ward London Bankers: Lloyds Bank, Ltd., Nat Distill

Foreign Exchange and Banking | NY Centrul business of every discription trans-Ston OH NJ acted.

U.S. Steel

Current Accounts opened and Fixed Deposits received for" One year or shorter période at rates which will be quoted on application.

Safe Deposit Boxes (various sizes) for kire.

LOOR POONG SHAN,

Chiat Macs.

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

pt

991

20 247% 29% 22% 2241 2954 *** 43% 434 43% 3341 34% 334 London Prices. The following quotations froin Lon- don were received last night between 540 p.m. and 10.30 p.m.

Silver: Spot 20% (last close), 2414 (last reed.), 1% up (change).

Silver: Forward 23-7/16 (last clone), 21% (last reed.), 1-3/16 up fehunge)..

Silver Repert: The advance is due to large spéculative buying and short supplies. China sold at the advance. Market closed uncertain.

Gold: 142/6 (last close), 140/3 (last red), Did, úp (change).

London N.Y. Selling Rate: 4.00% (last close). 4.88-15/16 (last recd.), 1-7/16 down (change).

London/Paris Selling. Rate: 74.03 (at close), 7.78 (last red.), 25 down (change).

Liverpool Cotton-Jan. 6.45 (last

Our New building in Specially Con- close), 6.57 (last recd.), .12 atructed to provide all of these Im-(change). portant Qualities.

H.K. Fire Ins., $237 n. International Assce. Sh. $6 n. Shipping.

Douglases, 111 E. H.K. Steamboats, $7 n. Indo-Chinas (Pref.), $80 n. Indo-Chinas (Def.), $93 n. Shell (Brer), 48/1% n. Union aterboats. $13 n.

Mining.

Antamoks, 60 cts. n.

Balatoes. Ex. Div. $37 n. Baguio Gold. Ex Div. 46 cts. n. Benguet

cts. n.

Consolidated

414

Benguet Exploration 22 cts. a. Benguet Goldfield, 20 cts. n. Big Wedge, 10 ets. n. Gold Creek, $2 m.

Gold Rivers, 21 ets, a.

Ipo Mining $21⁄2

Itogans $6.30 .

Salacots 16 eta, n. Kailan 25/- 0.

Langkats (Single) Sh. $17 n.

S'hal Exploration, Sh. 6 n. S'hal Loane, $61⁄2 n. Raubs $12.90 a.

ир

Venz; Goldfield, $5 n.

Docks. etc.

Liverpool Wheat-Dec.: 5/4 (last)

(change).

You may obtain a Safe Deposit close), 5/5% (lust recd.l. 1% up Box in this most up-to-date Vault for your own use at a very moderate Ren- tal.

Inspection Cordially Invited,

THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Street and Des Voeux Road, Central

THE

London Rubber-Jan.-Mar.: (buyers) 6-15/16 (last close). 7% (ast reed.), 3/16 up (change)..

71/16 (last close). 7 (last recd.), 3/16 up (change).

London Rubber-Jan.-Mar.: (sellers)

London Rubber--Jan.-Max at noon; (buyers) 7% (last red.)

London's Forecast

A forecast from London an the pro bable trend of the New York market, status:-

Wall Street is expected to maintain AMERICAN EXPRESS COMPANY, its recent improvement, but may en- Editorials in counter profit-taking. the Hearst Press are saying that the nation is entering a period of genuine recovery, which helped to restore run- fidence and stocks should benefit from a vise in commodities.

INC.

Head Office-65, Broadway, New York

Capital

Surplus

Reserves

Abo

.I.S.$6,000,000.00

2,087,112.69 1,095,528.81

BRANCHES:-

Amsterdam Antwerp

Des

Arti

Beake

Berl

Blomber

Примаріць

Citro

Har Iamten Harry Heidelberg Toteriacon Jerusalim London

Millan N Naple Pina Parts Риграв Paterma Hotterdam BL Bbiegha

Calcu'te Consi

Liveryst

Button

LUNTAI

Slapper

Langane

Fientulu

Extor

Favering

Marion

Vietna

Monte Carlo

Vire

Manik

huma

Munich

Zurich

Healers

Colomba Copenhagen Uutin Paliaturg's Plore Opera

Branches of American Express Com- pany in Principal cities of United States of America and Canada.

All classes of Commercial Banking Transactions undertaken.

Persona I investment accounts

bandled

י

Wheat may open higher. Sentiment is bullish.

In Rubber, a firm market is expected) with prices dearer.

In Cotton, higher prices are expected,| with the market subject to movements| in Sterling. Hedging is very light.

BRITISH MOTOR

INDUSTRY AIDS

H.K. Wharves, $107 m. H.K. Docks, $14% m Providents (old), $11⁄2 3. Providents (new), $50 cts, Hongkews, (old) Sh. $310 n. New Engineerings, Sh. $4% ¤. S'hai Docks, Sh. $118 n.

Cotton Mills.

Ewo Cottons, Sh. $9.80 n. S'hai Cottons (old), Sh. $75% n. S'hai Cottons (new), Sh. $44 n. Zoong Sings, Sh. $9.40 m. Wing On Textiles, Sh. $55 m.

Lands, Hotels, etc. H.K. and S. Hotels, $5.40 n. H.K. Lands $50 b.

II.K. Lands 4% Debentures 32%

prem sa.

Shanghai Lands, Sh. $27% n. Metropolitan Lands, Sh. $14 m. Humphreys, $10 m.

H.K. Realties, $42 b.

Asia Realtles "A", Sh. $140 n. Asia Realties "B" Sh.$20 n. Chinese Estates, $90 n. China Realties, Sh. $15. Debentures, $137 n.

Public Utilities. H.K. Tramways, $19.60 sa. Peak Trams (old), $14 n.

EMPLOYMENT Peak Trams (new), $7

p

(Continued from Page 1)

There was an exceptionally large attendance at the open- ing, and the presence of more visitors from Overseas was Particularly noticeable.

This is the 28th show of the series, and it is definitely interna- tional in character. Although The Company offers to intending there are few, if any, decreases in Travellers the use of its "Travelers price, the models contain many im- Cheques" and Letters of Credit and,

fa addition, the world-wide services provements. Bodies are roomier,

f its thoroughly equipped Travel Do are more solidly constructed, and patiment.

show improved finish. An in- creased number have independent- [ly sprung wheels, semi-automatic gear boxes, and draught proof ventilation. Streamline tendency is general

0..H. BENSON,

General Manager,

THE WING ON BANK, LTD. HONG KONG

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of every description transact- Jed.

Current Accounts opened and Fixed Deposits received for one year or shor ter period at rates which will be quot ed on application.

Tsingtan Yingko Labarat allowed on uzrent Ac-for

Deposits received for fixed periods |

Safe Deposit Boxes (various sizes)

bira.

PHILIP GOCKCHIN

at mates to be obtained on application L GOOKCHIN

G. KISHINAMI,**

Hong Kong, 11th September, 1934: -

Chief Hanager

Assistant Manager

LI SHU FONG Assistant Manager.

The show will remain open for 10 days. British Wireless Service.

THE SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED. (Incorporated in China)

...$5,000,000. ..$7,000,000.

Capital paid up

Reserves

Capital Savings Dept. $500,000. Reserve Savings Dept. $600,000. Head Office-Shanghal

A Bank having as its mission the industrial development of China and the fostering of her commer cial, relations chrond, s

· Hồng Kong office—7 Ics House Bt.

Fhom 11481-2« BAS

Star Ferries, $98% 88. Yaumati Ferries $214 n. C, Lights (old), $8.60 b. C. Lights (new), $8.35 b. H.K. Electrics, $70 n. Macao Electrics, $25 a. Sandakan Light, $8 n. Telephone (old). $221⁄2 . Telephone (new), $10.90 n. China Buses Sh. 13.20 n. Singapore Tractions, 4/- n. Singapore Pref., $18 b.

Industrials,

Malabon Sugars, $8.70 n. Cold: Macg, (ord.), Sh. #21 a. Cold: Macg. (Pref.), Sh. $20 n. Canton Ices, $2.60 b. Cements, $2.36 n. H.K. Ropes, $34 n.

Stores, etc. Dairy Farms, $23.70 n. Watsons, $5.60 n. Der. A. Wings, $1 n. Lane, Crawfords, $4.15 n. Mackintosha, $21 `n. Sinceres, $10 n., Wm. Powells, 70 cts. n. Wing On (.K.), -110 n.

Miscellaneous.

H.K. Amusements, $4 m. Entertainments, $7% n 3.C. Enterprises; $1.30 n; United Theatres, Bb. $1% . Macao "Greyhounds,” $2 n.*- Constructions (old), $1.80 n. Constructions (new), 78 cts.b

and sa.

Teak 8. E. Levy And Company's Report industrial recovery-United Press, chairs. Teak bedstead, Teak ward-

In their market report. Messrper S. E. Levy and Company,

S. E. Lovy and Company, corres-

pondents for Mesars. White. Weld FEDERAL BANKING

and Company, New York state:

"Stocks:-Sentiment

has much

improved here, owing to Washing-

CONTROL

robes with glass doors, Teak chest

of drawers, Teak dressing tables, Pletures. Braas

Ornament, Glass

ware, Curtain, Carpels, Grama- phones, Crockery, etc., etc., etc.

also

to news regarding higher price- Dissension May Lead To Several pieces of Blackwood

Realignment

ware.

New York, To-day.

levels and talk of inflation. There) was some buying in. volume. Bar- ring shocks from abroad, the mar- ket is in a favourable position for further advances. Business done: Washington foresees the re-align- ment of Federal Banking officials, -1.390,000 shares.

"Bonds-United States Govern-due to a disagreement between the ment issues and also both high-Federal Deposit Insurance Corpora- grade and second-grade bonds tion directors and Mr. G. F. T. were better.

O'Connor, Comptroller of Currency. "Wheat: - Continued dry wea- It is reported that Mr. O'Connor ther in the South-West and ap-will be appointed Governor of the prehension regarding frost in the Federal Reserve Bank - United

stimulated Argentine

buying. Press, per 5. E. Levy and Company. Total sales: Whent: 33,175,000 bushels hels.

Corn:-12,236,000 bus-LATEST QUOTATIONS

On View from Tuesday, the 16th., October 1934

Terms: Cash on Delivery

LAMMEET BROS., Auctioneers.

SOARING PRICES IN AMERICA

Still Much Below 1926

"Cotton: There was some short The following quotations have covering, but most of the buying been received by Mesars. S. E. Levy is believed to have been of a spe- and Co., and the A.0.F.C culative nature. Hedge offerings

New York Cotton: Closing Closing is upward. were negligible.

"Rubber: Reports of a firmer Dutch attitude towards the res triction of native rubber produc- tion are beginning to dispel re- Icent talk regarding restriction difficulties. Total sales-781 lots.

October

December

January March

May

July

"Flashes-Many long lines in Spot

October

December

January

Oct. 10 Oct. 11

commodities are being reinstated, New York Rubber: due to increasing inflation gossip.

Woolworth has declared a dívi dend of 60 cents per share, pay- Jable on December 1st, as of stocks (Continued on Page 10., Latest Quotations

The following quotations hav been received through Messrs. S. E Levy and Company and the Ameri

Oriental Finance Corpóra-

Cap tion:

N.Y./London Cross-Rate 4.89% 1934 Winnlveg Wheat:

12.12 12.30 12.21 12.44 12.24 12.49 12.34 12.58 .12.40 12.62 12.41 12.65 12.40 12.65

13.74 14.33

13.98 14.58 14.09 14.70

14.37 14.99

14.58

SPECIAL TO CHINA MAIL.. (By Telegraph, Copyright, Télegra- reived October 12, 648 a..) phic Messages Ordinance, 1894, Re-

New York To-day. The general trend in America Farm product prices have increased 26 per cent., food prices 21 per cent., metals 3 per eent. chemicals 5 per cent. and hides 0.8 per cent., since January, Farm prices, however, are 27 per cent., and food prices 24 per cent., below those of 1926, United Press, per S. E. Levy and Com- pony,

15.20 RAW RUBBER PRICES

Latest Quotations From Singapore

Messrs. H. B. Joseph and Co. have just received the following Straits Currency quotations

(Buyers) from Singapore for Raw

March May July Chicago Wheat:

14.80

15.42

December

99% 1021⁄4

*May

99% 102%

July

95%

.983%

New York, Yesterday.

Chicago Corn: December

754

77

Last To-day's

May

781⁄4

793%

close close July

78%

7914

Rubber:

N.Y. Cotton-Dec.

12.21 12.14

October

80%

8134

N.Y. Rubber--Dec.

18.58 14.58

December

Chic Wheat---Dec.

99% 102

81% 82%

Chle Corn-Dec, Silver-Official

75% 77 514 53%

May

8534

874

New York Sugar:

(Dow Jones AvgJ

October

1.88

1,88

Oct. 10 Clone Change 93.75 95.50 1.75 up 36.15.36.81 .60 up

March

1.82

1.83

May

1.85 1.87

1.89

1.91

40 Bonds.....

11 Commodity

December ...

1.14

1.16.

Index 58.68 59.80 1.18 up

1025

February April

1.15

1.18

1-16% 1.18%

36 Industrials 20 Rails

20 Utilities

Amer Con

19.89 20.38 39 up July

92.73 93.03 .30 up New York Silk:

17 Leading Stocks

36 New York Metals:

Jan/Mar.:-20 Up

April/June-27 % Up 2.

Market:-Uncertain.

U.S. BUILDING PERMITS

SLUMP SHARPLY

New York, To-day.

September building permits in the United States

totalled U. 8.

$26,520,685, as against U.S.$94,- 452,758 in August and U.S.332,-

Oct. 8. Oct. 11 243,704 in September last year, Copper, March. 5.58 6.90

50.30 50,60

The figure is the smallest since March-United Press, per 9. E.

The New York Commodity Ex-Levy and Company. 30% change will be closed on Friday and

Amer Smelt and Ref Amer Tel and Tel Auburn

112%

26%

3.1. Case

47%

Du Pont

93%

Tin, March...

Elee Boad and Share

1114

General Motors

Int Tel and Tel

10% Saturday,

October 12 and 13,

48%

29% respectively.

22%

22%

BANK CLEARINGS IN US.

134

103

SHOW DECLINE

35

33

Meinture

Montmery Ward Nat Distillers N.Y. Central Secony-Vacuum Union Pacific U.S. Steel West E. and M.

Business 'done;-1,390,000 shares.

BARCLAYS BANK CHAIRMAN

Mr. Tuke Succeeds Late

Mr. Goodenough

London, To-day. Mr. William Faville. Tuke, De- puty Chairman, has been elected Chairman of Barclays Bank in suc- cession to the late Mr. F. C. Goodenough, and Mr. Edwin Fisher has been elected Deputy Chairman.-British Wireless Ser-

vice.

Is It Insured?

Insurance All Classie ||

LOWEST RATES! American Anatic: Underwriters' Fed. Ine, USA, General Agents

Head Office

Ch. Govt. 5% 1925 G3Bds--87%. 17, The Band,

H.K. Govt. 4% Loan 8% prem.

H.K. Govt. 84% Loan 84% n. Wallace Harpers, #13⁄41⁄2-n.

KAsis. Life Building Tel. 38248

the

REMOTE U.S. HOPE OF SECURING WAR DEBTS

Washington, To-day-For United States bank clearings last second successive year, the United week totalled U.S.$4.916/129,000, as States Administration is consider- against U.S.$4.178,857,000 for the ing the omission of foreign debt corresponding week of last year. payments from the Budget, indicat-. The figure is the smallest since ing the remote hope of collecting. the final week of August-United United Press, per S. E. Levy and Press, per S. E. Levy and Company. Company.

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 30108

Tel, Addresa: Belco

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