THE CHINA MAIL, TUESDAY, NOVEMBER 20, 1934
BANKS
BONG KONG AND SHANGHAI
BANKING CORPORATION.
Menfand Expital
Brand and Fully Paid-up
Bonerro Funda —
Sterilus
IN FLAUSTIN HOTE
€ 4,560,000
· Bliver "meminta me "$10,000
$30,000,000 20,000,000
Moserve Liability of Propsielone" -$30,000.000
BEAD OFFICE: BONGKONG.
BOARD OF DIRECTORS,
Hon. Mr. C. G. U. Mankie
Chairman,
Hon Mr. S. H. Dowel.
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter, 1858. HEAD OFFICE: LONDON
Paid-up Capital
Reserve Fund
....£3,000,000 ..£3,000,000
Reserve Liability of Pro-
prietora
...£3,000,000
Agencies and Branches:
Alor Star
[Fallo
Langos
Acarthese
!pok
badgon
Deputy Chairman,
Bangkok
Katachi
Marang
W. 1. !. Kay.
U. Mitkin, Esq.
Klase
Beremben
A. Compton, kaq.
K. 3. Morrison, Log-
Beraber
Kobe
bbanghal
*.J, Zorick, Raq. 10. Kaight, Est
1. E. Faro, Lag.
Calcotla
Kun
flagspor
Casies
Tampur.
Bitlaman
Osunpors
Kuchlag
Bour
Caba
Hair
Taiping
Manila
Tokela
Meden
Tedgeh
Halphong
New York
fatsburg
Palplug
Trington
Hankow
(Pering
AMUY MANUKOK BATAVIA BOMBAY JALOUTTA CANTON
ONE YOU
COLOMB DAIREN TOOCHUW FAIPHONG RAMBUNG MANKOW HARKIN
BONGKET
ILOILO
SPOLK
JOHORE
JORI
KOWLOON
V. M. Grajbura, Leg.
Calf Musi
BRANCHES —
LOSION LIONG
MANILA
MAR Jobs)
MURDEN
NEW YORK
PEIPING
PENANO
BAXGOON
BAIQUN
SAN FRANCIJCo
KUALA LUMPUR
SHANGHAI
SINGAPORE
KOHURABAYA
BUNGEI PATANI - TIENTBIN
TOXYO
TSIKOTAO
YOKOHAMA
Curran Accounts opened in Local Currsney
and Fixed Deposite received for 'vus pour Or sharter paroda" zu Local Compway and Bierling almetto which wil be quoted as application..
"Kong, 19th April, 1984,
Harbin Tour Koal
Lessonsfod.
Finanz
(kuker)
Tokohama Zamboanga
Foreign Exojange and Unnara Banking bus Curreat Absouala opened and Fited Depot polved for your or shorter periode at rate which will be quoted on application
W. H. E. THOMAS,
Acting Manager, Hong Kong, 20th February, 1934.
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
HONG KONG SAVINGS BANK. Located on the Mezzanine Floor of
The Busiame of the above Bank is condunt. s by the HONG KONG AND SHANGHAI SANKING CORPORATION. Kules may be sblaisel on application.
FUB THE HONG KONG AND SUANGual BANKING CORPORATION
V. M. GRATBURN,
Chiel Moonger.
Many wag Mth February, 1984.
THE BANK OF EAST ASIA, LTD.
Mashorisad Capisal
Play Cealal
Bermud Undivided Predi
-$10,000,000.00 8,890,590.00
Prita-3,194,000,00
HEAD OFFICE: HONO HONO
12, De Vaux Road Cent
BOARD OF DIRKOTURN;-
Ble Shou-os Cbow, Chairman
Leon Chun, E4j, P. K. Kwok, Esq. Woog
In Tong, Bay, Chan Ching shek, Esq., Li Lan Band, Er Wong Chu, Son, Reg. and Kas Ying
B. Lay.
་ ་
Ken Teng Po. Zog- Chiat Manager. La Fong, Esq. Ho..
مشمول
BRANCHES AND AUBNCIES:-
Manila Melbourne
Ramitin
Samara
Bombay
Nagas
Shangha
Baloutie
New York
Linger
hourabaya
Paris
Slow
Maakon Hlutų
Priptog
byday
Panaog
Talboku
Raroca
Tegele
Krecomm Dede
Balgo
Tokya
Тобования
San Francis
Every desangles of Banking and business kremented. Losas granted an approval
Carran Accecnia opened In Jamal Curves and Fixed Deposits solved for on your shorter periods in Lacel and Foreign Corradias
term which will be quoted on application. Bale Deposit Joe To Lat
KAN TONG PO,
Chal Manager.
Hong Kong, ist March, 2004.
THE BANK OF TAIWAN, LTD.
Head Office:-Talhoks, Fermosa, Incorporated in Japan by Special Imperial Charter, 1899. Central Bank of Formosa, Notes
insund Average amount Y.45,000,000
Branches and Agrarios. Japan:-Kobe, Osaka, Tokyo, Yoko hama, Keelung, Makong, Nanto, Shoka, Shinchika, Taicha, Tainan, Taito, Takao, Tamsui, Toen, Karenko, -Kagi, Heito, Giran.
China:-Amoy, Canton, Foochow, Han-
kow, Shanghai, Swatow. Others: Borabay, Hong Kong, London, New York, Singapore, Batavia, Samarang, Surabaya, Dairen. On and after April 20th, 1934, the rate of Interest on Special Current Deposit will be at 1% pa, on dally Balance, and the rate for balance ever $10,000 will be quoted on application
Maximum.rate-14),
T. OHNO,
Manager.
Hong Kong Branch
3. Des Voeux Fd, Central.
VE YOKOHAMA SPECIE
LIMITED.
STEF
Our New building is Specially Con- structed to provide all of these Im-, portant Qualities.
You may obtain a Safe Deposit Box in this most up-to-date Vault for your own use at à very moderate Ret tal.
Inspection Cordially Invited. THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Street and Des Voeux Road; Central
and
·CONGRESS OF U.S.
INDUSTRY
BROKERS TEND TO BULLISHNESS
Momentous Meeting In Higher Cotton Prices
Finance Momentous Meeting In
Commerce
RECOVERY BELOW EXPECTATIONS
SPECIAL TO CHINA MAIL, (By Talegraph, Copyright, Telegra phic Messages Ordinance, 1874, Be ceived November 20, 8.20 .21.)
Washington, To-day.
LOCAL SHARES.
TO-DAY'S QUOTATIONS.
Banka.
n.
H.K. Bank $1600 b., $1620 s. H.K. Bank (London), $1944 . Chartered Bank £16. Mercantile Bank, A. & B, £32 Mercantile Bank C. 318 n. Bank of East Asia, $99 . Am: O. Finance Corp., 8b. 420 m. China 0. Fin. Ord., Sh. $4 n. China O. Fin. Pref, Sh. 45 a.
New York
TO SPUR RECOVERY:
Anticipated
ACREAGE OUTLOOK CONFUSED
NEW ADVERTISEMENTS
THE UNITED ASBESTOS ORIENTAL AGENCY, LTD. (In Voluntary Liquidation),
N°
TOTICE IS HEREBY GIVEN that an Extraordinary Gen- On Wall Street, brokers lean to-bestos Oriental Agency, Limited eral Meeting of the United As-
New York, To-day.
SPECIAL TO CHINA MAIL. (8y Telegraph, Gopyright, "Telegra U.S. Still Has 6 Billion share quotations issued to-day:
The following is the list of local ceived November 20, 8.20 -0.1.)
phie Masangos Ordinance, 1891, Bewards bullishness.
In Cotton futures most traders held at the Offices of Messrs. Dod- (in voluntary liquidation.) will be Dollars In Hand
New York, Today. are anticipating higher prices. well & Company, Limited, at The New York National Associs-The acreage outlook is becoming Queen's Building, Victoria, in the tion of Manufacturers has called more confused both as regards the Colony of Hong Kong, on TUES- for a "Congress of American In-continuation of the Bankhead Act DAY, 27th day of November, 1984, dustry" to meet in New York on and the percentage of reduction at 11 O'clock in the morning at December 12 to draft constructiye which the Government may ask in which Meeting the Liquidators will recovery recommendations for pre- December. sentation to the Administration "Spot" business was small yes of their acts and dealings and of lay before the Meeting an account prior to Congress,'
Nterday. Old stocks of the old crop the conduct of the winding up dur- The speakers will include Dr. R. hav been reduced and little of the ing the fifth year of Liquidation. Richberg, of the N.R.A., and Pro-new crop Cotton has been sold. fessar Raymond Meley, while the 8. E. Levy And Company's Report aponsors include Messrs. E. T. In their market report, Measca. Weir, Alfred Stban. Lammont S. E. Levy and Company, correa Dupont and T. M. Girdler.
pondents for Messrs. White. Weld This is, apparently, a manifesta-jand Company. New York state: tion of the industrial leaders' wil "Stocks: The market appears to lingness to co-operate with the Ad-be evenly balanced here. The bet-l ministration.-United Press, per Ster feeling, growing out, of the E. Levy and Company.
. The United States Treasury an nounced on November 15 that the Government had still a sum of U.S.$6,475,544.919 from the recovery and relief appropriations which it has not spent.
It is expected that most of this money will eventually be spent. since recovery is below expectations and demands for relief purposes are heavy. För this reason an unbalanced Budget is expected to continue until June 30, 1936, since the total sum probably cannot bej spent by June 30, 1935.--United Press per S. E. Levy and Company.
'LOCAL DOLLAR
DECLINES
Silver Prices Lower
opening on demand this morning The local dollar has declined
at 1/72.
Spot and forward silver prices declined, closing at 24-5/16 and 24-7/16, respectively.
The London oh New York cross- rate, which closed on Saturday at E-U.S.$4.991, closed yesterday
THE BANK OF CANTON, LTD.-U.S.84.98, while the New York on London rate closed at -U.S.$4.98%, as compared with £--U.S.$4.994-
Established 1912,
Head Once-Hour Kong,
Authorised Capital
Paid-up Capital
Total Resources ......
$11,000,000 8,655,000 32,170,492
Branches: Canton, Tolshan, Shane DIM OUTLOOK FOR
Hankow, Bangkok & San Franciaco.
Banking
London Bankers: Lloyds Bank, Ltd.,
Foreign Exchange and business of every discription trans- acted.
Current Accounts opthed and Fired. Deposits recetred for one
Your or shorter periods ab rates which will 'bey quoted on application.
Safe Deposit Boxes (various sixee) for hire.
LOOK POONG CHAN.
Chief Manager.
UTILITIES
President Roosevelt's Attitude
SPECIAL TO CHINA MAIL
(By Telegraph, Copyright, Telegra phie Messages Ordinance, 1894, Re- Jceived November 20, 628 a.m.)..
New York, To-day. President Roosevelt's speech at Birmingham, Alabama, on Sunday, AMERICAN EXPRESS COMPANT, is regarded in the most unfavour
тан
INC.
Head Odeo:-65, Broadway, New York
Capital..... ...U.S.$8,000,000.00 Surplus
2,087,112.00 Raserves,
....... 1,995,628.31
Amatørda
مدونام
BRANCHES:-
B丸克街
Berita
Bombay
Beac
Ganow Наци HATEME Hamburg Em Haidelberg Polariakas
Brutala
Cairo
Leaden
Calitrita
*Liverpool
Capes
Oolocaba
op Edinburgh Dublia Florence GSDET
Idestine Lugane
LUSON
Miles Nite Naples Pir Paris Palpin Palar Rotterdata Bʊa Shangha Bouthampton Blupspori Tiantain Taorm
Marsal
Pleas
Mole Cart
Manich
Venice Tokakazum Zurich
MonSewin
Branches of American Express Com-] pany in Principal cities of United States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
Bandios.
able light concerning utilities and his promise of the contract to the Tennesse Valley Authorities will be copied throughout the nation and be interpreted as promising extensive Federal aid to those municipalities which acquire their own plants.
The recepton at Triplong has strengthened President Roosevelt's influence in Congress. United Press, per S. E. Levy and Com pany..
JESSE JONES SEEKS UNITED FRONT Appeal To Industry And Business Heads
(ByTelegraph; Copyright, Telegra
SPECIAL TO CHINA KAIL phio. Messages Ordinance,. 1865, Re- ceived November 20, e.es a.m.)
Washington, To-day. -
The Chairman of the Reconstruc-| lon Finance Corporation, Mr. Jesse -sonal Investmant accounts Jones, yesterday called on industry and business heads to forget their fears and co-operate with the Gov Company offers to Intending ernment in the drive for permanent Travelers the use of its "Travelers recovery. He praised the attitude Capital (fully paid-up) Yen 100,000,000 addition, the world-wide services tion and the United States Cham- Cheques" and Letters of Credit and of the American Bankers' Associa Belarve Fund
Yon.124,250,000
of its thoroughly equipped Travel Deber of Commerce. partment.
Established 1880
Head Office:-YOKOHAMA
Branches and "Ageneles, at:
Alexandria
Batavia
Nagasak Nagoya
Barliá
Bombay
Calcutta
Canton
Dairen (Dalny)
Parle
New York Osaka Pelping Rangoon Fengtien (Mukden) Rio de Janeiro
San Francisco
Hamburg
Beatti
Semarang Shanghai Singapore
Hankow Harbin
Hong Hong Honolulz
Hainking
| Soerabaya
Tientaln
Tokyo
Karachi Kobe
London
Los Angeles Manila Kofi
The
C. 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- ed.
Current Accounts opened, and Fixed Deposits received for one year or shor- ter period at rates which will be quot ed on application.
Tsingtan Yingkow Interest allowed en Oxrent Ac-for hire
ib
Deposita received for fixed perioda
Safe Deposit Boxes (various sizes)
PHILIP GOCKCHIN
Chlef Manager.
as rates to be obtained on application. LA GOCKCHIN
G. KISHINAMIAUS ManaKET.
Hong Kong, 11th September, 1934,
Assistant, Manager dispon
LI SHU FONG Assista
It was announced that during October the R.F.C.' loaned U.S.$54,- 200,483 to banks, trust companies, railroads and mortgage loan com- panies, and U.S.$4,928,800 in direct loans to various industries United Press per S. E. Levy and Company.
THE SHANGHAI COMMERCIAL ́& SAVINGS BANK LIMITED
(Incorporated in China)
Capital paid up
Reserves
Capital Bavings Dept Beserve Bavings Dept. $500, VHead Offee---Shángbal
000.
A Bank baring as Its mission the industrial development of Chios and the forming of her cial relations: shroed Her Bori
--
Insurances.
Canton Ins., $235 n. Union Ins., $5221⁄2 m China Underwriter, $1.15 n. China Fire Ina.. $510 u. HK. Fire Ins, 82371⁄2 n. International Assce. Sh. $8.
Shipping.
Douglases, $41 n. H.K. Steamboats, $7% n. Indo-Chinas (Pref.); $80 n. Indo-Chinas (Def.), $38 n. Shells (Bearer) 42/6 n. Union Waterboata, 313% ¤.
Mining.
Antamoks, 55 cta, b. Balatoes, $37- n. Baguio Gold, 46 cts. n. Benguet Consolidated $13% n.. Benguet Exploration 19 cts. n. Benguet Goldfield, 20 cts. n., Big Wedge, 10 cts. n. Gold Creek, $2 m. Gold Rivers, 21 cts. n.
Itogans $6.30 n. Ipo Mining $21⁄2 ¤.
Salacots 16 cts. n.. Kailan, 20/. n.
Langkats (Single) Sh. $171⁄2 n. S'hai Exploration, Sh. 454 n. S'hai Loans, Sh.$6% n. Raubs, $11%
Venz: Goldfield, $5 n.
Docks, etc.
H.K. Wharves, $109 n. H.K. Docks, 312% n. Providents (old) $1.55 m. Providents (new), $50 cta. n. Hongkews, Sh.$316_n. New Engineerings, Sh. $51⁄2 1. S'hai Docks, Sh. $123 n.
Cotton Mills.
HEAVY LOSSES ON U.S. STEEL
THE UNITED ASBESTOS ORIENTAL AGENCY, LTD. (In Voluntary Liquidation) Per pro Dodwell & Company,
Limited, STANLEY H. DODWELL
Managing Director'
Liquidators.
Government's attempt to withdraw from Interference and to encourage general business, is somewhat nulli- fied by the Government's equally xx) obvious efforts for further regula- tion and to promote competion in the private Utilities Industry, Under X the circumstances, there is no like-
Industry Dropping $6.10 lihood of a broad advance and the
Per Ton On Ingots
mixed movements will continue. At the moment the advances noted in industrial trading favourites seem hardly proportionate to their acti- vity. Business done:-380,000 shares.
"Bonds: U.S. Government Bonda
SPECIAL TO CHINA MAIL.
New York, To-day. There has been an average loss of U.S.36.10 per ton in steel ingots produced during the third quarter, according to the Iron and Steel In-were better and high grade issues stitute estimates, as compared to an Second grade issues were slightly fremained quiet and off fractionally. average profit of U.S.$2.65 per ton during the second quarter.
Sentiment is beginning to im
Corn situation prove, since the output is the highest generally suggests higher pricea., since July and it is anticipated that, A further substantial narrowing of while nothing startling will happen, the premium on Wheat over Corn in the gradual advance will continue expected. Tota! sales:-Cora: United Press, per S. E. Levy and 12,312,000 bushels, Wheat: 13.246,- Company.
1000 bushels.
U.S. UNEMPLOYED TOTAL 10,951.000
Recovery Must Precede Reform
than dut jie sure
SPECIAL TO CHINA MAILZET
lower.
"Grains: The
"Cotton: The market remained quiet with helated trade shorta transferring fo Deceraber. When the movement is finished it is ex pected that differences may widen. Messrs. J. E. Bennett estimates gin- nings at 8,479,000, bales. The crop is nearer ginned than at any time before.
(Continued on Page 10.).
"Rubber: The market remained Washington. To-day. unchanged. Labour monthly has credited the position to March and May. Total We would suggest a The American Federation of gradual switching of the December production upturns in the bitu-sales:-288 · lots."-Reuter. minous steel, electricity and tex- sa-tration's assurances that
tile industries to the Adminis- covery must precede reformi.
It warned, however, that there 10,951,000 unemployed United Press per S. E. Levy and Co.
Ewo Cottons Sh. $10.15;n. S'hai Cottons. (old), Sh.' 877% n. S'hai Cottons (new), Sh. 146% n. Zoong Sings, Sh. 39.40 n. Wing On Textiles, Sh. #55 m.
Lands, Hotels, etc. H.K. and S. Hotels, $4.80/4.95 H.K. Land, $51 b. H.K. Lands 4 Prem..n. Shanghai Lands, Sh. $29 a. Metropolitan, Lands, Sk. $14 a. Humphreys. 39 n. H.K. Realties $41⁄2 ̧n. Asia Realties “A”, Sh. $140 n. Asia Realties "B" Sh.$20 n. Chinese Estates, 890 n. China Realties, Sh. $15% n.. China Debentures Sh. #187 n.
Public Utilities H.K. Tramways, $19.10 b. Peak Trame (old), $14 n. Peak Trams (now), $7`n. Star Ferries $971⁄2 m. Yaumati Ferries $221⁄4 n. C. Light (old), $9 sä: . C. Light (new), 183⁄4 b.. H.K. Electrica $65 b. Macao Electrica, $25 n. 'Sandakan Light; 88 8.7 Telephone (old), $28.20 n. Telephone (new),"$9.85 n. China Busés, SH. $18.20 m. Singapore Tractions 4/3 b. Singscore Fret. $17/9 1.
Industrials
Debentures 1%
Malabon. Sugara, $8.70 n.. Cald: Macg. (Ord.), Sh. $21 n. Cald: Macg. (Prof.), Sh. $20 n. Canton Ices, $2.85 b. Cements, $2.b. E.K. Ropes, $34 n.
Stores, ete. Dairy Farma, $28 Watsons, $51⁄2 n. Der. A. Wings, 31 m Lane, Crawforda, 14 n. Mackintoshs, $21 n. Sinceres, $10 n.. Wm. Pawella, 70°cta, n. Wing On (H.K.): $110 m.
2. Miscellaneous. H.K. Amusements, $23⁄41⁄2 Entertainments, $11⁄2 ¤. S.C.Enterprisen, $1 m. Macao "Greyhounds,” #2 1. Constructions (old), 31.80 n. - Constructions (new), 75 cis. b. Vibro Pling 38.60 .
are
BETTER OUTLOOK
FOR STEEL
Increased Activity In Raw Materials
re-
SPECIAL TO CHINA MAI (By Telegraph, Copyright, Talegre- phie Messages Ordinance. 1884. Be ceived November 20, 6.29 a.m.)
New York, To-day The United States Steel Institute reports production at 27:6 per cent.] of capacity, which is an increase of 1.1 per cent. tv
DEVALUATION UNLIKELY IN BELGIUM
New York, To-day-Gold Bloc currencies rallied yesterday on ́ą feeling that the re-shuffling of the Belgian Cabinet will not bring about devaluation of the Belga, as all parties are committed to a
sound
money. policy, 'United
gone
Everything
BUT YOUR
SAVINGS
RENT
FOOD
CLOTHING
HEAT
TAXES
WATER
CHITS
SAVINGS
SAVE SOMETHING
START NOW UNDERWRITERS SAVINGS BANK FOR THE FAR EAST,
INC.
Asia Life Build Hong Kong.
Tal, 80284
Press, per S. E. Levy and Con Is It Insured?
pany.
50 PER CENT. DROP IN U.S. MAIZE CROP INDICATED
New York, to-day.-Arrivala maize during the past from the in- The Cleveland magazine, "Steel" terior terminals were 50 per cent. report the industry at 28 per cent below those of a year ago, thus an increase of one half point due to emphasizing the scarcity of the increased activity. In raw materials feed crop. Cash corn gained as and larger finished steal commit much as 8 cents per, bushel. ments-United Press, per S. E. Levy
and Company.
STOCK EXCHANGE CAUSES MAJOR SURPRISE
New York, To-day-The Comme- dity Exchange has inaugurated trading in Straits tin futures, The Stock Exchange has suspended deal- ings in Shell Union Oll Corporat tion's 5 per cent, sinking fund gold debentures, October, 1945, with war- rants attached, for unrevealed res sons-United Fresa, per 8. E. Levy. and Company.
RAW RUBBER PRICES
Latest Quotations From Singapore
Ch. Govt. 5% 1925 G$Bds-87%n.ave rece HK Gort 4% Loan 8% % prem
H.K Gort 8% Loan 8%%%
premn Wallace
Mesars H B Joseph and Co. red the following Straits vers) from
dred
· Insurance All Clases WARLOWEST RATES
American Asiatic Underwriters Fed, Inc.-U.S.A, General Agentă”
Head Offen 17, The Band,
Shanghaf
S. E. Levy & Co.
UNDERWRITERS AND DISTRIBUTORS
AND COMMODITIES.. SECURITIES AND
BOUGHT AND BOLD ON COMMISSION DAILY NEW YORK- STOCE AND COMMODITY SERVICE
Members:
NEW YORK COTTON EXCHANGE COMMODITY EXCHANGE, INC. CHICAGO BOARD OF TRADE
CORRESPONDENTS FOR WHITE WELD & CO. NEW YORK ICE HOUSE STREET, HONG KONG 4801019 and 80103
WAsla£fe Building Tel: 80118-