-BANKS
HONG KONG AND SHANGHAI.
BANKING CORPORATION:
Authorised Capital..... Issued and I'ully Paid-up
Reserve Furuls
Sterling..... £ 0,500,000 Silver
$10,000,000,
Reserve Liability of Pro-
prietors
BEAD OFFICE, NONOKONG.
20,000,000 Reserve Liability of Pro-
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. $50,000,000)
20,000,000 incorporated by Royal Charter,"1863.
BEAD OFFICE: LONDON
*
Paid-up Capital
Reserve Fund
$8,000,000 £5,000,000
priators
£8,000,000
Agenclea and Branches:
lvil Ipol
Sangoon
Helgun
Jazgkok
Karnaki
Fansarang
Bataria
Kiong
Retamban
Bossber
Kobe
Bhansal
Kunia."
6/spute
Canto
Isumpur
Cawnpore
Kurblog
Houtbeys
Caba
Hadras
.Talaban
Colorabe..
Manila
Thasida
Dalai
Kadam
Tenghah
Haiphong
New York
Bhulene)
Hamburg
Palping
Telgian
Tekraina
Zamboangs
BOARD OF DIRECTORA.
8. 41. Dulwell, Esq.
Chalemen,
O. 1, Khlulit Bug.
Deputy Chairman.
W. H. Bell, Esq. K. S. Morrison Esq,
A. 11. Compton Esq.,
Hon. Mr. J. J. Paterson,
Hun. Mr. C. G. S. Mackie,
G. Miskin Esq., T. E. Pearce Esq.,
AKOY
DANGEUR
BATAVIA
BOMBAY TALOUTTA
BANTON engroo COLOMBO DAIREN TOOGLOW
HAIPHUNG
HAMBURG
NAHKUW
HARDIN
NUKEW
Ba
JUGBE
KOBE
LOWLOON
Y...Grabera, Bag.
Chlef Manager..
BRANCHES
KUALA LUMPUR LONDUN
LYONE
MALACCA
MANILA
MUAH (hora)
NUXDEN
NEW YORK
PEPINO
PENANG
BANGOLIN
NAJGON
SILANUBAL
SINGAPORE
YAN FRANCISCO
LOUBABATA·
SUNUMI PATANI
TIENTSIN
TOKYO
TRINGTAO
TOKOHAMA
l'ensal Accouble opened in Tocal Outrany Lad Nized Doppelle racired for our year o tarter perioda le Lost Company and Berling He terms which will be ugled na appilation, Hong Kong, 26th February, 1935.
HONG KONG SAVINGS BANK.
Hunkow Ilarbin loor Loa
Tenang
THE CHINA MAIL WEDNESDAY, FEBRUARY
ommerce and Finance
TREASURY RETURNS
In Expenditure': Rise
Revenue Falling
INCOME TAX COLLECTIONS IMPROVE
as
London, To-day. The latest Treasury returns show, that ordinary revenue for the cur rent financial year up to Fébruary 23 amounted to. £620,169,263, compared with £631,766,084 for the Zops Derbange, and Drsal Banking business the Corresponding period of last tracokelat.
Durrant Accounts opened and Fixed Deposlis, receless for one Jar of aborter periods of year. Including self-balancing which will be posted on application.
revenue the figures are £698,409,- 263 and $708,590,084, respectively.
Income tax collected last week amounted to £12,821,000, bringing the total to date to £188,490,000.
A. BREARLEY. ·
Manager. Hong Kong, 1st. January, 1935.
THE BANK OF CANTON, LTD. as against £186,673,000 at the cor-
Established 1912
Head Office-Hong Kong
Authorised Capital
Paid-up Capital
1935
NEW YORK STOCK
MARKET____
Continued Weakness
Noticeable
REDUCED RUBBER QUOTA CAUSES LIQUIDATION
SHANGHAI STOCK
MARKET
General Trend Still
Very Weak
A.O.F.C. COMMENT
$11,710 Is
Finance
Supplementary
amounting to $11,710 will be sub
Transactions on the Shanghai mitted to the Finance Committee
LOCAL SHARES.
TO-DAY'S QUOTATIONS →
The following the list of local share quotations "found to day.
Banke HK,Bank $1380 b;, $1395 BA. H.K. Bank (London) £181 n. Chartered Bank $151⁄44Chip Co Mercantile Bank A. & 1814duced on rallies from these levels: sesalon 800 Caldbeck Macgregor, 8 grant of $1,500 is anticipated for Mercantile Bank C. 818% n.”
Business done-950,000 shares. per cent. Preferred were sold. De the Hong Kong Naval Volunteer Bank of East Asia $90 m.
Grains: Offerings are increasing bentures continued to be easy led Force; Am: O Finance Corp, Sh.820 n. China Q. Fin, Ord, Sh. $1.60 m. China 0. Fin: Prof Sh. 141⁄2 B.
In their market report. Mesara. Stock Exchange continued to be of
E. Levy and Co 'pany, corres a very limited character last Tues- following the Legislative Council pondents for Messrs. White Weld day. Union Insurance and Ewos meeting, to-morrow afternoon. and Company, New York atate:- among the common stocks, Shang The largest item is $7,940 for
Stocks We-continue to bellove hai Water Works 65 per cent.
nga Insurances,
Canton Inc. $260 n, Union Ins. $440 sq. China Underwritera $1.40 b. China Fire Ins. $480 m...
Fire Ins. $2273% n. International Assce. Sh. $5 n. Shipping
responding period of last year....
The total ordinary expenditure up to last Saturday was £632,663, $11,000,000 933, as compared with £619,562,255 8,855.000 at February 24, 1984. With self- 12.170.492 Branches: Canton, Teishan, Shanghai,bulancing expenditure, the total for the current year is £719,500,601, aa Hankow, Bangkok & San Francisco.
£705,215.800. British London Bankers: Lloyds Bank Ltd., against
Foreign Exchange and Banking Wireless Service. basiness of every discription trans-
Total Resou7CES
...acted.
The Buds of the above Bath is conduc
the HUNG KONG AND BHANOHAS LING CORPORATION, Hulen Gay be stled on application
MR THE HONG KONG AND BHANGHAI MAVEING CORPORATION
Y.. GRAYBURN,
Chiel Manner.
Hong Kong, 25th February, 1935.
THE BANK OF EAST ASIA, LTD.
Authorised Capad
Walking Capitai
Rovers and Usdiculed Proda muno
$10,000,000,00
-83,464,900.00
HEAD. OFFICE-BONO XOXO
12. De Vass toad Casira
ARE OF DIRECTORS
El bou-on Chow, Chairma
1 X Cha Zaq. P. K. Kwok, Ing. Woox The Tong, Eng.. Than Ching Bbet, Zay, I lan B. Reg., Wong Chu Bon, Eng, and "Kan Ying
Xan Tong Po Paq.. Chief Masagie,
Li The Fons. mj, Manager,
BRANCHES AND AGENCIES1-
4
ปน
Kok!
Semarang. Bhuba
Aleutia
New York
Singapore
Cavit
Bulghong
Faria
Sourabaya Braidw
Hakow Isolala
Paiping
tyrdatz
Fanani
Talboku
Bangoon
Nerlain
Kewloon
Baigon
Tokre
Eso Pranolaou
TECOST
Erary description bestauched.
Darmas
-Tokokans
'st, Banking and Exchange Loans granted en mpground
Arcouste speed la
Loval Corrent Plaad, Deposit receive Loe on your
Verter periode to Lost and Foreign Currencie
Current Accounts opened and Fixed Deposita recet red for
ODE YDAY
or
phorter periods at rates which will be quoted an application.
Safe Deposit Boxes (various mixes) fer hire.
LOOK POONG SHAN,
Chief Managor
SAFETY FIRST !
To Safeguard Your Valuable and Jewelleries. Deposit them in a Vault that fe really: FIRE-PROOF BURGLAR PROOF DAMP PROOF 1
EXPORT TRADE IN- CHINA TEA
Increased Shipments In 1934
Nanking.
The total exports of tea for the past year amounted to 428,667 piculs, value at $31,842,082, which shows an increase of 18 per cent in volume and 8 per cent in value as compared with 1983, according to Jan official of the Ministry of Indus- try, who was interviewed by the Chekiai Agency's representative.
Of this increase, red tea ae- counted for a considerable part:| You may obtain » Bake Deposit Green tea, however, suffered from Box in the most up-to-date Vanit for a slight drop laat year as compared your own use at a very moderate Ren-with the previous years.
OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of Our New bailding is Spacially: Con- structed to provide all of these 1m. partant Qualitie
Inspection Cordially Invited. THE NATIONAL COMMERCIAL
& SAVINGS BANK, LTD; Corner of Tea House Street and Des Voeux Road, Central
THE
Larm which will be quoted on applices. AMERICAN EXPRESS COMPANY,
Bats
poll Doses a Lat,
EAN TONO ro,
Chief Hasager,
THE BANK OF TAIWAN, LTD.
Dead Office: Talhoku, Formosa, 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, Yoks
Keelung, Makong, Nanto, Shinchiku, Talchu, Tainan, Taito, Takao, Tamaul, Toen, Karenko, Kagi, Helto, Giran.
China:--Amoy, Canton,
Foochow, Han-
kow, Shanghai, Bwatow.
Others: Bombay, Hong Kong, London,
York Bingapore, avis Socrabaya, Datron.
New Samarang,
and after April 20th, 1984, the on Special Current fate of Interest Deposit will be at 14% p.a, on daily balance and the rate for balance over $10.000, will be quoted on application (Maximum rate—1%).
Y. OHNO,
Hong Kong Branch
Manager.
8. Des Voeux Road, Central,
INC.
Head Oßce:-65, Broadway,
Capital
Surplus
Reserves
New York
.U.S.$8,000,000.00 2,087,112,69 ****** 1,995,528.31
The Ministry of Industry is now making energetic efforts to improve the tea production of, the country, with a view to providing high quality tea for competition in the International market. (Chakia! Agency).
THE MERCANTILE BANK OF INDIA, LTD.
URAD'OFFICE:
Grahurch Sleet, London, 1.03. Authorised Capital 172.£8,000,000. Subscribed Capital
1,800,000 Paid-up Capital ....1,080.000" Reserve Fund & Rest. 1,247,482 BANKERS
The Bank of England & Kidland Bank, ¿Ltd.,
BRANCHLICH
New York
Ipoh.
BRANCHES:
Arandum Apiwory
-ÁSKORA Hein Berlin Baby Branis
Gatos
Glasgow
Melum Nice
The lingue
Karada
Neplas Pirmda
Bangkok
Bombay
Kandy
Parle
Cales
Usinaika Conser
Haldilberg Interlaken Jornalama London Liverpool
Pelpin PALM Rotterda Boro
Dell
- Kuala Tipl
Galle
Hong Your
Bangal Fotba
Howra
Colomb
Iuciest Lagen
Rispar
Tianlata
Cop
Tormise
Pabila:
Edinburgh Floo Genera
Marseilles A
Moris Earle
Manila
Maniok
Montreux
Viaza Venice Yokohama Karlsk
Branches of American Express Com. DADY in Principal cities of United States of America and Canada.
(MATION). Hogoon Shanghai Rupar Kusalan (Fabang) Umh
Singapore
4
ISO LONG BRANÇIL Brey description of Banking and Elokanga, bail- A transacted.
Travellers Cheques Lanzad,
Trustee And Executorships under- taken.
INTERENT" allowed on Current Accounts and Pland Deposite at Haton "kat may' ha sacarlaland sa application.
2. B. BORG,
Manage Quinn's Bood Ontial, Hong Kong. 12th June, 1984. :
All classes of Commercial Banking THE CHINA & SOUTH SEA BANK, Transactions undertaken.
Personal investment accounts
THE YOKOHAMA SPECIE BANK handled.
·LIMITED.
Established 1880
The Company offers to intending Travellers the use of His "Travalars:
Cheques and Letters of Credit and
· Capital (fully paid-up) Yen.100,000,000 in addition, the world-wide servicos Eurve Fund
Yen.124,250,000 of its thoroughly equipped Travel De
partment,
Head Office: YOKOHAMA
Branches and Agencies at:
Alexandria
Batavin
Barlin
Bombay
Calcutta
Nagamki
Nazoya New York Osaka mis
Rangoon
Dairens (Dalny) Fengtien (Marian) Rio de Janeiro
San Francisco
London
Los Angeles
Semarang Bingapore Boerabaya
Shanghai
Tokyo
Tsingtan Yingkow Interest allevel on Onrent
Deposits rootrod for
at mache to be obtained on applicati
E. W. DUGGAN,
THE WING ON BANK, LTD.
TONG CONG
Authorised Capital $10,000,000
Foreign Exchange, and Banking Business of every description transact-
Current Accounts opened Epsetál
LIMITED
(Incorporated in China). Head Office...Shanghai Capital Reserve Branches
**$7,500,000.00 $1,500,000.00
All Important Cities Foreign Exchange and General
in China
Banking Business transacted.
ONG
Current and Baving Accounts opened and Fixed Deposita received for year or shorter periods at rates which will be quoted on application, and
800 Z. CHANG,”
HONG KONG. BRANCHE 24, Des Voeux Road, Central Manager's Office Tel: 88565 Foreign Exchange Dept. 88568 General Office Cashier's Office
THE SHANGHAI:
· & SAVINGS BA
Deposits received at special rates, and Fixed Deposits received for one year or shorter period-at-ratas, which will : „Cap be quoted on application
Safe Deposit Boxes (various/nises)
for hire
PHILIP GO
Chief
L GOOKCHIN
Assistant Ma
Douglases $891⁄2 n. H.K. Steamboats,.87% n. Indo-Chinas (Prof.), $80 n. Indo-Chinas (Def.). $88 n. Shells (Bearer). $50/- në Union Waterbosts $12 n..
Mining,
Antamolis 88 cts. n. Balatoes $43 n.. Baguio Gold 89 cts. n. Benguet Consolidated $14 sa. Benguet Exploration 15 cts. n. Benguet Goldfield 10 eta. n. Big Wedge, 10 cts, a. Gold Creek 381⁄2 cts. n.
Gold, Rivers: 22. cts. n.
Ipo Mining 311⁄4 n. Itogany. 42-ets. n. Salacots 16 cta. 11. Källan 17/-n.
Langkats (Single) Sh. $15 n. S'hai. Exploration Sh. $5 n. S'hal Loans, Sh. $0 n...... Raubs $7.90 n. 2- Venz; Goldfeld $5 n.
Docks, etc. H.K. Wharves $108 b., $110 8. H.K. Docks $111⁄2 m Providents (ald) $14 n.. Providents, (new) 15 cts. n,. Hongkowa, Bh. $309. n. New Eriginoerings Sh. 85.80 m. S'hat Docks, Sh. $120 ́n.
- Cotton Mills. Ewo Cottons. Sh.. #9.221⁄2 n. S'hai Cotton (old) $74-n. ...** S'hai Cottons (new) $45 D. Zoong Sings. Sh. $9.30 .- Wing On Textiles, Sh. 855 n.
that the continued weakness of the Preferred and Shanghai Power the Harbour Department and Air market calls for a reappraisal of the Company 6% per cent. debentures Services a fire engine for the Kai Spring outlook. We feel that com were the only issues in which busi Tak serodrome ($7,482.36), while a mitments, generally, should be re-ness was done. During Wednesday's
on advances. Wheat: Total sales: by Shanghai Telephone 6 per cent. 10,910,000 bushels, Corn: Total which closed at 98.50 while Shang- sales-5,612,000 bushels hai Power 5% dropped to 20., In
"Cotton March liquidation is the rubber section quotations were S. AFRICAN BUDGET practically completed. Uncertainties, normal on Thursday with the excep
FOR 1934 due to the Government's loan policy, tion of 500 Ayer Kawah which |changed hands at 2.70. There was are being keenly felt. A
Capetown, Feb. 20. A surplus of £2,250,000 was ap→
"Rubber: Speculators expected a some Improvement noticeable on $2,250,000 Surplus Shown sharper quota and are liquidating. Friday as far as rubber shares were Gold Mine Profits Fall The Trade were the principal concerned. buyers Declining stocks should
General Market Dull gradually attract Increased specula-
The xeneral market. however, reži tive participation. Total salesmained very dull with 1,000 Shang-nounced in the House of Assembly 971 lotar AREA
hai Water Works Fittings placed at to-day by the Minister of Finance, "General The Commodity mars.60, Shanghai Water Works "C" at Mr. N. C. Havenga, in a statement kets, generally are thin, "but al20.75 and Kelly & Walsh at 22. The on the 1934 budget of the Union of though speculative holdings are the only transaction, recorded on Satur-South Africa. lowest for some time, we feel that day was 500 Intiscos. 4.60 for cash, better rebuying at these levels is No business was reported in the Revenue, he declared, had ex- jceeded the original estimate by
likely."Reuter..
E. A. Pierce And Co.'s Report
rubber section. Debentures were quiet, $46,000. Shanghai Race Club nearly £3,250,000. In their market report, the debentures were done at $100, re- The largest contribution to tho American Oriental Finance Cor presenting a decline of 1 point from surplus was from income tax, this poration, correspondants. for the last transaction. In view of despite the remissions made last
[year. Messrs. E. A Pierce and Company the fact that no change has been of New York state-
Other contributions were derived taking place "in the monetary, situa lon, business done did not show any from the" super tax and the yield appreciable expanion.. Transactions from share-brokers profits and were few on both the general and the Customs.
(Continued on Page 7)
COMMODITY PRICES
rubber markets. Chinese Engineer. It was estimated, however, that ing & Mining was done at 11.76 a the excess profits of gold mines drop of 25 centa. Prices on the de- fell short by £1,000,000, this being The following quotations have bepture market showed only a due to various causes. connected been received by Reuter.
with mining operations.
May...
Feb. 25. Feb, 20.. Closing Closing, New York Cotton:—byt March
12.29 12.27 12.42 12.42 12.50 12.49
July
May
July
September
12.444 12.41
12.49 12.49 12.49. 12.49
October...
December
January (1936).. Spot
12.66
12.50
New York Rubber
March
12.96: 18.10
12.55 12.68
October
December
| Chicago Wheati–
May
97%
18.26 12.84 13.42 18.02 13.50 13.08 13.68
13.23
97%
July
.01%
Debentures
80% September 761⁄2- . Winnipeg Wheat:-~
September ... Chiengo Corn: May 8414 July.....
90%
92% 91
847/4
May
'83
884
July 2
6244
6284
New York Sugar:
March
·1.99
2.00/02
May
2.05
2.07/07
July
2.10
2.13/14
September
2.15
December..
2.22
2.24/26
New York. Silk:
March
134
May July
1.36
1.85
1.85
1.85
Montreal Silver:-
March
55.45 65.80
May
66,15
July
56.65
5695
September
57.25
57.25
Lands, Hotels, etc... H.K. and S. Hotels $4.95 b H.K. Land 450 n. H.K. Land 4%
-101 n. Shanghai Lands Sh. $22'n. Metropolitan Lands Sh. $12.20 Humphreys $9.20 Ex ̈ div..n. H.K. Realties $5.10 n. -' Asia Realties "A", Sh."'$100 n": Asia Renities “B” Sh.$17 n., Chinese Estates 898 n China Realties Sh." $9.00 n. China Debentures: Sh.$128 n.
Public Utilities
H.K. Tramways "819.80_ss. Peak Trams Gold) 884 n. Peak Trama (new), $6 n. Star Ferries $22, n. 12 Yaumati Ferries $22 n. C. Lights $10 b., $10.05 sa. H.K, Electrica 871(n, Macao Electrica $25 n. Sandakan-Light 38 n. Telephone (old): $2534 1 Telephone (new) $10.10 b, China Buses Sh. $12.40 n. Singapore Traction; 8/ b. Singapore Pref. 207- b.
..Industrials Malabon Buger: 381⁄2 n..
Cald: Maeg. (Pref.) Sh.16 n, Cald: Macg, (Ord.), 8h, $21 n.
Canton Tees $234 b. Cements $2.05 ... H.K. Ropes $8.80 n.
Stores, etc. Dairy Farms: $283⁄41⁄2 5. Watsons $41. Lane, Crawforda 33.75 n. Mackintosh $21 m? Sinceres $8 mi Wm, Powella, 70 ctn, ni Wing On (H.K.) #105 ́n.
Miscellaneous
H.K. "Amusements $1.85 m. Entertainments,‹ $71⁄2 - n.^^ H.C. Enterprises. $1.85 x. Macao: "Greyhounds,... $2 n. {Constructions" (old); $1.70
Construction (new) 50 Vibro Piling $53⁄41⁄4n.^
Ch. Govt 5% 1928 GBBds
98%*
slight change downward.
A Chinese 'Govt. Bonds
Exporta from the Union In-
com-
The outstanding feature of the creased by only £3,000 as Chinese Government Bond Market pared with the figure for 1989, but during the nine days trading ended imports showed a rise of $17,000, the 16th was the wide fluctuation 900.
of 23rd Year Customs ́ ́ between"}
whose highest and lowest quotations)
there was a difference of almost: 10. GENERAL NOTI
points. The issue began to move
upward on rumours of its conver-
Rion while the other issues went HONG KONG HORTICULTURAL down, but substantial figures. After
Raveral relapses it was still able to
SOCIETY
show a net gain of nearly 8 points: THE ANNUAL ...!. SHOW. of FLOWERS and VEGET- Leaving aalde the 23rd Year Cus- toma which did not follow the gen-¡ABLES will be held at the VO“ eral trend, the market on the whole LUNTEER HEADQUARTERS ON continued, to be weak. With THURSDAY, the 28th FEBRUARY, alight Improvement on Tuesday (the 1986, from 3 p.m. to 8.80 p.m. 12th). whon loses were somewhat Lady Peel hug very kindly con- reduced, “It ́ resumed its downward sented to diatribute the prizes. movements on Wednesday and de- By kind permission of Capt. R. B.
... [spite small gains on the following Davies, V.C., D.S.O.,- A.F.C. RN, 80..
two days it eased off again on the Royal Band of H.M.S. "Corn- 76%
Saturday with net results of low wall" will be in attendance... prices for most issues.
LOCAL DOLLAR
STEADY S
2.18/19 Silver Prices Improve
The focal dollar remains steady, 1.84% opening on demand this morning at
11/10/%
Spot allver advanced 1/16, being quoted at 25 9/16, while forward |silver advanced" %, being quoted 66.25 at 25 11/16.
NEW YORK STOCK EXCHANGE
Reuter Quotations
A February 27
The following quotations from Now York have boon received by Reuter,
Tart closs 10.15
11.00 February 27 4:38% 74.80%
IN.Y. Cotton
12.29)
48814
12.81 12.50 12.50 -- 12.51 7:1262 1244
N.Y./London:
Mar
July
Oc£
1249 12.47
NY. Rubber
#Mar......
12.06 18.00 12.89 18.26 18,24 18.18; 18.42 $13.39 18.812
·07%
92
84
88%
July
Sept
C. Wheat May 70% **
July
914
C.Com May 84%
W. Wheat May 88%
Amer. Smelting: 341⁄41⁄2 843⁄41⁄4
Gon Gan N.Yen 18 Du Pont
General Motors 80 Elac Bond & ShBA
Pövt. 4% Loan 6%%% Loews Inew
Montgom
9% Loan 2%%% Frem
852785
| Admission $1.60 Children 50 cents.
J.T. BAGRAM,
Hon Secretary.
Is It Insured? ?
Insurance —–—– All Classes LOWEST RATES.
American Asiatic Underwrite
Fed, Inc., USA.
General Agente -
The London on New York cross Head Office rate was quoted at US$4.86%1)
The Band Shanghel
AD
as compared with £-U.S.$484% 24 while the New York on London rate was quoted at U.S.4861, as compared with US$4.8698---
S. E. Levy & Co.
ICE HOUSE STREET
INFRATMENT, BÁHEERS ‘1⁄2 "BROZKÉR
NEW YORK" COTTON EXCHANGE!!
COMMODITY EXCHANGE," INC." HY,
CHICADO BOARD OF TRADE-
| GANADIAN" COMMODITY/EXCHANGE, ING,
CORRESPONDENTS
· HK. Office Asis Life Buildiag
Tel, 30234