BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION. L
thorized Capitat
Camwed and Fully Paldrup
Berry Pundai-
Barlog
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
20.000.000 Incorporated by Royal Charter, 1858.
$800,00
£6,500,000
$10,000,000
Hero Liability of Propristors $20,000,000
HEAD OFFICE: DONGKONG.
Bu Mr.JW.
BOARD OF DIRECTORU.
Hoo, Me, O. (5. 'E. Haskie
Chalyman,
8.1. Dodwell. Esq.
Deputy ChairLË, Stu
Compton, Zaq
W. J. Koswich, Eng.
B. C. Knight, Koç.
MOT
KANGKUR
BATAVIA BOMBAY JALCUTTA CANTON
CHEFCO
DOLDY BO
DAIBEN
POOCHOW MAIPIJONO SAMBURO BANKOW HARBIN BONUZEW
LLOILO
IPH
JOHUSE
IODE
IONLON
BEAD OFFICE: LONDON
Reserve Liability of Pro-
.£3,000,000
£3,000,000)
THE CHINA MAIL, THURSDAY, JANUARY 24, 1935
Commerce and Finance.
$2 STAR FERRY DIVIDEND
23,000,000 $3.50 Bonus Proposed
Rangoon Belgon Bemarang Berambag Khangbel Singapor
Paid-up Capital
Reserve Fund .
prietors
Agencies and Branches:
Alor Star
Пell4
karibuar
Ipok
Blangkok
Karachi
G. 3. Bag.
Klana
K..lorrio, Rog
Gotabay
Kobe
1. E. Praze, Eq.
Calestia
Burle
Canton
Lampar
Kuching
Satırabaya
Cabu
Madra
Talping
Colombe
Magila
Tientela
Delhi
Medan
Tongkah
Haiphona
New York
(Bhuker)
Priping
Tsingta
Pakking)
Yokohama
Terang
Zamboanga
7. M. Graybum, Mag.
Chief Manag
BRANCH GS (→
LUALUN
LYONK
MALACCA
MANILA
UAB (Johore}
MUKDEN
ץ
NEW YORK
PRIPING
PENAN
BANOOON
SAIGON
SAN FELKOISTO
KUALA LUMPUE
БИЛКИНА!
SINGAPORE
FOURABAYA
SUNGE PATANI
THENISIN
TOKIO
TRIBUTAO
YOKOHAMA
Current About opened in Local Duranny
sad Find Deposite rosired for one yea®__ DI skorter periode la La Conspicy and Sterling - which will be quand on applicatio Blue Keep. 17th April, 1224.
HONG KONG SAVINGS BANK.
• The Bustines of the above flank, la nonduct by the LONG KONG AND BILANULAI BANKING CORPORATION, Blon
tained on application.
ej br
FOR THE HUNG KONU AND HUANGBU! BANKING CORPORATION
V. M. CHAYBURN,
Chief Manager.
Boog Keap. Kik February, 1954.
+
THE BANK OF EAST ASIA, LTD.
Authorized Capital
$10.000.000.00 $5,198.02.19
bors and Undivided Prodie, 20.00
READ OFFICE:-RONG XONG
12, Des For Road Control,
BOARD OF DIRECTORA 1- Hir Sbou-sou Chow, Chairm
Low Chua, Zg P. K. Kwok, Eng. Wont In Tong, Erg Chan Ching thek, Esq. Li Lou Sang Keg.. Wong Chu Bon, Faq and Ban Ting
Kan Tong Pu, Esq., Chief Manager.
1 To Pune. Eng., Manager.
Palphong
DRANULES AND AORNUTES :---
Melbuurt
*
01
Beva
be
Nagbali
Bajouti
New York
Beto
Unaka
HANNOY
Peiping
Hom
Kabe
haugoon
Karina
Gendon
Franciao
жан
ملا لمسماة
Bemarang
Bhanghai Bingspare Lourabaya Bwatom
nidiny
Vaiku Tissuin Tokyo
cuts
Yokohama
Jamburg
| Hankom
Trable
Hear Ymar.
treated.
Biawan
Foreign Nathangs sad Desiral Decking to Current Amounts opened and Fixed Deposits mosited for one year or shorter parisda ni ratou #bich will is quoted on application.
A. BREARLEY.
Manager. Hong Kong, ist. January, 1936.
SAFETY FIRST! To-Safeguard Your Valuables and Jewelleries. Deposit them in a Vault
that is really FIRE - PROOF BURGLAR-PROOF DAMP-PROOF!
The "Star" Ferry Co., Ltd. report- that the balance at Profit and Loss Account for the year ended 31st December: 1934, is $414,436.26, which together with $38,537.64 brought forward from the previous a total of $162,973.90 year makes available for appropriation.
The Directors will, at the ap- proaching meeting of Shareholders, recommend the following distribu- ition:-
Pay & Dividend of $2
per share Pay à Bonus of $3.50.per
share Carry forward to next
account
$160,000.00
280,000.00
12,978.90
$452,973.90
HONG KONG AND KOWLOON WHARF AND GODOWN'S
·OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of
At the forthcoming meeting of Our New building is Specially Con- structed to provide all of these ImShareholders of the Hong Kong |portant Qualities:
and Kowloon Wharf & Godown
THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD.
You may obtain a Safe Deposit Co., Ltd. the Directors will propose Box in thli most up-to-date Vault for that the Authorised Capital of the your own nee at a very moderate Ben-Company be increased from 80,000 ital.
Shares of $50 each ($1,000,000.00) · Inspection. Gordially. Invited.
10 160,000 Shares of $50 each ($8,000,000.00), and that at present the paid up Capital be increased to $4,500,000.00 by the Issue of 10,000 Shares at a premium of $25, giving the present Shareholders to option THE BANK OF CANTON, LTD. of taking up One New Share for
Corner of Ice House Street and Des Voeux Rosd, 'Central
Eatablished 1912.
Head Office: Hong Kong,
Authorised Capital
Paid-up Capital
$11,000,000 8,655,000 82,170,492
otal Resources Branches: Canton, Tolshan, Shanghai, Hankow, Bangkok & San Francisco. London Bankers: Lloyds Bank, Ltd.,
Foreign Exchange and Basking business of every discription trans- actod
Eight Old Shares.
LOCAL DOLLAR ADVANCES
Silver Prices Steady
The local dollar has advanced %, or opening on demand this morning at
Current Accounts opened and Fixed Deposits received for one year shorter periods at rates which will be 1/94. quoted on application.
Spot and forward silver prices,
Safe Deposit Boxes (various sizes) however, were unchanged, being Eshafer hire
quoted at 24% and 24%. respec- tively.
Riary descaption of Banking and
Lomas granted an approved BOUZİLİB.
Current Accounts opeved to Lewal Curren
Pized Deposita esitad for hjstor shorter perioda in Loent and Forsiga Currencies
berta which will be gated on applicasion.
Bale Depot Dores To La.
!
KAN TONG TO,
Hong Kong, les March, 1951
Chief Maseg
THE BANK OF TAIWAN, LTD. Head Office: Taiheka, Formin Incorporated in Japan by Special Imperial Charter, 1899.
Central Bank of Formoen, Notes
issued Average amount Y.45,000.000 Branches and Ageneles. Japan:-Kobe, Osaka, Tokyo, Yoko- hama. Keelung, Makong, Nanto, Shoka, Shinchiku, Taichu, Tainan, Taito, Takao, Tamsul, Teen, Karenko Kagi, Heito, Giran.
China: Amoy, Canton, Foochow, Han-
kow, Shanghai, --Swatow.
1
LOOK MOONG SHAN, A Chief Mag.
THE
The London on New York cross- rate was quoted at -U.S.$4.89, as compared with £-U.S.4.88%.
AMERICAN EXPRESS COMPANY, The New York on London rate
• INC.
Head Office:-45, Broadway, New York
Capital Surplus Reserven
.U.S.$6,000,000.00,
2,087,112.69 1,995,528.31
BRANCHES:--
Palermo
Amateria Antwurs Athena
Genca Glangan
NIT
1:
Au
Hraine
Berlin
Berbay
Funn
Havana Hamburg Havre Heidelbert Interlaken
Flee Naples Pirmaga Paris
Peipin;
Braphy
Intterdam Fema
Caire
New York, Singapore,
Others: Bombay, Hong Kong, London.
Teusta
Гипо
por
Batayia
Samarang, Seerabaya, Dairen.
Colombe Copenha Publia Falebar
Mantata Tartuma Vienne
Monte Carle
Genera
Manila Muala Montr
Yokohama Zorich
On and after April 20th, 1984, the rate of Interest on Special Curren! Please Deposit will be at 1%. p., on dally balance and the rate for balance over $10,000 will be quoted on application (Maximum rats 1%).
Y. OHNO.
Manager.
Hong Kong Branch
3. Des Voeux Road, Centra
Jarszałem
Londoo Tarerpool Luosina Lugano Luxor
Rostbapica
was quoted at IT.S.$4.89, compared with £-U.S.$4.88%.
#F
The dollar, which was quoted at 1/9% yesterday for the first time since October 9, 1929, was at 1/93%. on October 8 of that year, since when it has steadily fallen, re- covering only this year.
LONDON SILVER
London, To-day. Spot 24% Unchanged. Forward 24% Unchanged Sliver Comment, Bought, small.
India
Sold.
Speculators Business
Branches of American Express Com- THE CHINA & SOUTH SEA BANK, pany in Principal cities of United States of América and Canada.
All classes of · Commercial Banking Tansactions undertaken.
Personal
THE YOKOHAMA SPECIE BANK handled.
LIMITED.
Established 1880
Capital (fully paid-up) Yen. 100,000.00
Yen.124,250,000 Reserve Fund
Head Office: YOKOHAMA
Branches and Agencies atr Alexandria
Batavia
Berlin
Bombay
Calcutta
Cantos
Dairen (Dalny)
Nagasaki Nagoy New York Quaka
Paria Peiping
Rangoon Fengtien (Makden) Rio de Janeiro Hamburg
Hankow
Harbin
Hong Lour Honolulu
24 Hrinking. PAKárach!
Kobe London
Lon Anreis
San Francisco Seattle Semarang Shanghai
Singapore Доставау Sydney Tientala Tokyo Tringtau
investment accounte
LIMITED
www.
(Incorporated in Chins) Head Office.Shanghai... Capital ,$7,500,000,00 $1,590,000.00 Branches.,,.,.All Important Cities
Reserve
in China Foreign Exchange and General The Company offers to intending Travellers the use of the Travel Banking Business transacted
Current and Saving Accomts opened. Cheques" and Letters of Credit and.
addition, the world-wide services and Fixed Deposits received for one its thoroughly equipped Travel De year or shorter periods at rates which
will be quoted on application.
partment.
E, W. DUGGAN,
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, Special| Deposits received at special rates, and Fixed Deposits received for and your fer. ehorter period at rates which will fbe quoted on application path in
Safe Deposit Boxes (various
for hire
PHILIP GOOKCHIN GAS Chief- Manager
GOCKOHIN MANAG #Assistant.Münnger kopsant
LLI, SHU TONG
BOU Z. CHANG,
Maunger. HONG KONG BRANCH::] 24.. Des Vox Road, Central, Manager's Omes Tel. 88365 Foreign Exchange Dept. 88565 General Office" vinde 38587--- Cashier's Office.
Y: 83569
THE SHANGHAI: COMMERCIAL & SAVINGS BANK LIMITED P(Incorporated in China
Capital' paid up Baserves Capital Savings De
Head
A Bank hav Indurtzial
and the
cial relations
Hong Keur
LOCAL SHARES.
TO-DAY'S 'QUOTATIONS.
The following is the list of local share quotations issued to-day:
Banks.
H. Bank $1545 n.^ H.K. Bank (London) 2140 n. Chartered Bank $160.
STEADY TREND ON RAW RUBBER PRICES WORK OF NATIONAL
WALL STREET
Automobile Industry
Improvement
LIFELESS COTTON MARKET
Wall Street is expected to be steady but interest in individual; items is engendered by the trade repart. There should be little change in Rubber, but January
Latest Quotations From
Singapore
Messrs. II. B, Joseph & Co. have received the following Straits Cur-
rency quotations(Buyers) from Singapore for Raw Rubber: *
Spot 20 7/8 down 3/8 April-June 23 down 8/8 July-Sept. 24' 1/8 down-1/2 Market: Slightly easier.
automobile registration in Ameri- COMMODITY PRICES ca was 95 per cent, over that of
The following quotations have last year.
Wheat will probably be steady been received by Messrs. S. E. Le Mercantile Bank, A. & B. 682 n. Weather in the North West is it and Co., and the A.O.F.C. Mercantile Bank C. £181⁄2 'n. Bank of East Asia 890 b Am: 0. Finance Corp., Sh.$20 n. China O. Fin. Ord., Sh. $1.80 n. China O. Fin, Pref Sh. $41⁄2 n.
Insurances.
Canton Ina. $275 n. Union Ins. $490 n.
China Underwriters $1.20 b. China Fire Ins. $490 n. H.K. Fire Ins. $228 International Assce. Sh. $5 ¤.
Shipping.
Douglases, $40 n. H.K. Steamboats, $71⁄4% ¤. Indo-Chinas (Pref.), 880 n. Indo-Chinas (DeL), $89 n. Shells (Bearer) 54/4% ́n. -Union Waterboats 18% n.'
Mining.
Antomoks 872 8. 87% 8.
div.
ter, while elsewhere it is becom- ing colder.
Jan. 22. Jan. 23. Closing Closing
战
Cotton is expected to be unchang-
ed and lifeless though technically New York Cotton:~~
Frigidity is continuing in January ........ sound.
12.40 12.45
the Cotton Belt which is antipathe March
12.46
12.49
tie to the weevil pest. Cables from May
12.53
12.55
Liverpool report hedging of East July
12.53
12.55.
ern and Indian Cotton.-S. E. Levy October (1985).. and Company. . *
12.44
12.48
Décember
12.50
12.55
8. E. Levy And Company's Report Spot
12.65
12.65
In their market report, Messrs. New York Rubber:-
S. E. Levy and Company, correa- January pondents for Mesara, White, Wold March ......... 13.07 and Company, New York, state: May
12.90
12.81
12.05
"Stock:-Though there may be July .....
13.35
13.20 13.10 13.24
a certain restriction of activity September
19.55
13.41
until the Gold Clause decision is October announced, favourable news from Chicago Wheat;-
19.63
18.50
the steel and motor industries May
97%
97
cum. will probably sustain the market. July
88%
8B%
Balatoca $41. Baguio, Gold 41 sa. Benguet Consolidated $14 Benguet Exploration 18 ets. Benguet Goldfield 10 cts. n. Big Wedge, 10 cts. n.
Business done:-620,000 shares, September
"Commodities:-Stagnant condi- Chicago Corn: tlons in the actual markets
B6%
87
were May...
86%
841⁄2
n.
having an effect on futures.
Ap-July
812
80%
I.
prehension over subsidies, which September
7736
77
are rumoured
and if created, Winnipeg Wheat:---
would enable exports of Canadian May wheat and American cotton, is de-July
821⁄4
821
laying replenishment, and deplet-New York Sugar:- ing European stocks, especially in March cotton.
B114
8134
1.87.
1.90/92
1.92
1.95/96
1.96
2.00
1.42
1,41%
· 1.41 -1.41
1.422
1.41
Montreal Silver:-
.54.70
54.60
55.50 55.30
56.00 55.90
Gold Creek 381⁄2 cta. n. Gold Rivers $281⁄2 n. Ipo Mining $1 n. Itegana 42 cts. n. Salacota 16 cts. n. Kailan 19/3 a.
Langkats (Single) Sh. #15 n. S'hai Exploration Sh. $5 n. S'hal Loans, Sh. $6 n. Raubs $9.10 n.
1
Venz; Goldfield $5 n.
Docks, etc.
May "Rubber:As noted in our com- July ment yesterday, manufacturers are September
Total New York Silk:- operating at full force. sales:-241 lots.
March
The following telegrams were May received by Messrs S. E. Levy and July Co. from Reuter:-
Wall Street was quiet and March
H.K. Wharves $115 b. $116 88. steady, with movements very rar-May H.K. Docks $11% n..
Providents (old) $1.40 s. Providents (new). 30 cta, n. Hongkews, Sh. 3809 n.
New Engineerings, Sh. $5% n. S'hal Docks, Sb. $120 n.
Cotton Mills,
Ewo Cottons.Sh. $8.90 n. S'hai Cotton (old) $74 n. S'hal Cottons (new) $44% n. Zoong Sings, Sh. $9,40 n. Wing On Textiles, Sh. 356. n.
Lands, Hotels, etc.
H.K. and S., Hotels $4.95 b. H.K. Lands $50 b., $50%
$50% 8.
sa
H.K. Land, 4%. Debentures 101%
b.
Shanghai Lands Sh. $241⁄2 n. Metropolitan Lands Sh. $12.20 Humphreys $91⁄2, mi H.K. Realties: 85:10 n.
Asia Resitics "A", Sh. $100 m. Aufs Realties “B” Sh.#20 ́¤. Chinese Estates $88 ... China Realties. Sh. $121⁄44 m. China Debentures 9h.$128 m
Public Utililles H.K. Tramways $20.30 b. Peek Trams (old) $9 n. Peak Trams (new), $7 n. Star Ferries $98 n.- Yaumati Ferries $22 n. C. Light 89.90 a. H.K. Electrics $70 b. Macao Electrics, $25 i. Sandakan Lights $8 n.
-
row. In view of prevailing uncer-July
tainties, traders were not diapos-September
ed to take decided positions either
1.99/00 2.06/05
56.80. 56.60
way and continued indecisive LUXURY CRUISER'S
movements seem Indicated.
Steel operations at Chicago were at 59 per cent. of capacity.
Average daily petroleum pro-
COMMISSARIAT
100,000 lbs. Of Turkey & 156,800 lbs. Of Potatoes
Many tons of food will be eaten
ECONOMIC COUNCIL
Limited Funds Only Allotted For 1935
MOST URGENT PROBLEMS TO
BE TACKLED FIRST
The work of the National Eco- nomic Council for the year 1934 has been mainly directed toward meeting the most pressing need of China to-day. This need is the amelloration of the living condi- tions of the people through the development of transportation and communication facilities, rural re- habilitation, and improvement of productive industries. These three important phases of economic de [velopment constitute the nucleus or the Councils endeavour, says Mr. Chin Fen, Secretary of the Council
But in view of the limited funds placed at the disposal of the Council, some guilding principles {had to be laid down in the forma- tion of a programme for the pre- sent year. These principles were: (1) concentration of the funds on Ja few important and urgent activi- tes only; (2) selection of certain regain which were in the most urgent need of reconstruction; and (3) activities which may be im- |portant but one beyond the finan- cial resources of the Council should not be taken up for the time being. In the light of these principles and on the basis of $15,000,000 appro- priation by the National Govern- ment for 1934, the Council's pro- gramme of reconstruction was drawn up and subsequently re- ceived the approval of the Govern- ment.
duction, was 2,531,000 barrels.
Weekly electricity production in the United States totalled 1,778,- 000,000 kw. hours, an increase of 9.4 per cent. over the correspond-by passengers on the liner Em
press of Britain which has now ling week of last year.
left England on a round-the-
due in Hong Kong on March 23.
The stores include: : 100,000 lbs. of Turkey. 156,800 lbs. of Potatoes. 100,000 lbs. of: Flour.
The publication "Iron Age" world luxury cruise, and which is timates steel production at 51.5 per cent, of capacity, and further gains are apparently assured. Al-¡ though a setback in scrap prices r. introduced a note of caution, it is believed too early for scrap prices to portend an off-levelling of steel production and certainly there aro no evidences of any relaxation in the demand from the automobile indystry.
Liggett and Myers has declared a regular quarterly dividend of $1 together with the usual extra $1 jon common shares and common
"B."
52,000 lbs. of Meat and Bacon, 112,000 Eggs. 100,000 Oranges.
20,000 Grapefruit.
The voyage will take 614 months.
Pennsylvania Railroad has de S. It Insured ? ?!
(clared a dividend of 50 cats, thei Bame as the two previous declara- {tiona.
Phillips Petroleum has declared Its regular quarterly dividend of
Telephone (old) $24.90 b., 25/80/25 cts.
25 8a.
Telephone (new) $11 8. China Buses Sh. $12.40 n. Singapore, Tractions 6/- n. Singapore Pref. $17/9 n.
Industrials
Malabon Sugar.. $8%1⁄2 n. Cald: Macg (Ord.), Sh. $20 Cald: Macg: (Pref.) 8h$193⁄41⁄2 Canton Ices $2.85 ..
Cements $1.97% n H.K. Ropes 65.80 8.
Stores, etc.
Dairy Farms $241⁄4 1. Watsons 84% n.. Lane, Crawfords $3.75 Mackintoshs, $21 n. Sinceres $8
Wm. Powells, 70 cta. n. Wing On (H.K.). $105. Julia Miscellaneous.
HK. Amusements $1.85 0. Entertainments, 779 0. *S.C. Enterprises: $1.85 n.°
Macao “Greyhounds" $2 n. Constructions (old) $185 n Constructions (new) 51 cts. n. Vibro Piling 51⁄2 *
E
Ch Govt. 6% 1925 G$B-90%
HK. Govt. 4% Loan, 8% prem.
[HK. Govt. 38 % Loan
Wallace Harperať 17% **
E.. A. Pierce Co's Report
Insurance All. Classes LOWEST RATES American Asiatic Underwriters
Fed. In USA. General Agents...
Head Office
In their market report, the American Oriental Finance Cor-17, The Bund poration, correspondenta for Messrs.
E. A. Pierce and Company of New: Shanghai York state:
larly in regard to the steel trade, "Stocks: Industrial news, particu-
(electric output and fertilizer pros
pects was constructive, but the mar- ket was dull and apparently stil! | under influence, pending develop; ments in Washington.**.*
“Grains: The market was “firm during much of the session, in- fluenced by strength in Liverpool and the severe cold wive which was predicted Prices declined late in the day's trading due to sympathy with weakness in corn, which had a heavy tone and was meeting with pressure on little rallies and poor buying power. There was also sell- ing by houses having Eastern con- nections. The cash basis was firm. Receipts from the country were [small and shipping sales the best for several days owing, probably, to tired holders.
PS\Continued on Page 7).
Stock
H.K.
Life
Tel 30234-
In brief, the work of the Council may be divided into six sections; highway. construction, hydraulic work, rural rehabilitation, control of cotton industry, improvement of sericulture, and public health.- Cheklai Agency."-
XXXXXXX
Everything
gone.. 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 Building Hong Kong. Tel. 30284
S. E. Levy & Co.
7, ICE HOUSE STAKET
VESTMENT BANKERS & BROBERS
NEW YORK COTTON, EXCHAN
COMMODITY EXCHANGE, INC, N.Y.
CHICAGO BOARD OF TRADE
CANADIAN COMMODITY: EXCHANGE,
ESPONDENTS POR