BANKS
HONG KONG AND SHANGHAI
BANKING CORPORATION
Authorised, Capital ....... $50,000,000
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Isued and Fully Paid-up 20,000,000 Incorporated by Royal Charter, 1858. Reserve Funds-
Sterling 20,000,000 Silver $10,000,000 Reserve Liability of Pro- prietors... ....
HEAD OFFICE, HONGKONG, BOARD OF DIRECTORS.
8.11. Babwall, 3294.
Chairman,
0. C. kontakt Regj.
Deputy Chal
W. H. Bell, Est. K. S. Morrison Esq. Caleutia
A. H. Compton Esq..
Hon. Mr. J. 3. Paterson, Hon. Mr. C. G. S. Mackie,
G. Miskin Esq.. T. E. Pearce Esq.,
Y.. K. Grayburn, bag,
HEAD OFFICE: LONDON
Finger BLARED Fourabaya Tripl
THE CHINA MAIL, TUESDAY, MARCH 12, 1935
Commerce and Finance..
KWANGTUNG PAPER MILL
Construction Being Rushed
Canton, To-day. Work on the paper mill esta- blished by the Provincial Dopart- ment of Reconstruction at Nan jahek-tow ja now being rushed. Up to date, the wharf, a road leading to the mill from the wharf, the Foreign Exchange and Garl Banking business general office building, and the Curreal Accounts opened and Fixed Depots dormitory of workers have been relvad for the year or shorjar perioda vi rales | which will be goosed pe application.
completed... A. BREARLEY:
20,000,001;
Paid-up Capital Reserve Fund
Reserva Liability of Pro-
prietora
.£3,000,000 ..£3,000,000
.£3,000,000
Agencles and Branches:
l'Alar Sime
Holl I
Amelia
Hangoo Bulgoo
Bangkok
Karach
F
Batavia
Kinde
Heteltban
Barbar
Kobe
Shanghai
Kuala
Canton
Lumpar
Cawnport Cebu
Xocking
Madra
Colomba..
Tiene
Delb
Heds
Tonaka
Sulpaner
New York
(Uhuker)
Tamburs
Pelping
Ixlogine
Chief Marg
Hapkow
Poking)
Yoholiatin
Harbin
TODDLE
Zumbang
BRANCHING-
Hari Bund
KUALA LUMPUR LONDON
LYORK
MALACCA
MUAB (Johor)
KURDEN
NEW YOKE
FOODKOW
HAIPHONG
#AMBUNG
HANKOW
TARAIN
HONGKEW
4
All
101
201
*MOY
MANOKON
BATAVIA
BOMBAY
HALCUTTA
DANTON CHEFOU DOLOMBO DATEN
TỔ LUÔN
MANILA
PELPING PENANG
RAKODON
BATION
SAN FRANCISCO
BRASONIAL
SINGAPORE
KOULAUA YA
11ENTEIN
RUNGE PATANI
TONYO
1 דנא איר
YOROUAMA
Curreal Accuenia opened in coal Currency sad ised appelle raceited for one you or shorter periods in Local Company and Marin
ride which will be quoted on application. Hong Kong, 25th February, 1935.
Manage
Hong Kong, 1st. January, 1935.
The machinery, which has been ordered from abroad, will arrive here next, June when the whole mill will be completed.
Wood of fir tree will be used as:
THE BANK OF CANTON, LTD. raw material in manufacturing the
Established 1912.
paper. Various counties under Jinstruction of 'the' Reconstruction Department are now. busying $11,000,000 themselves in the planning of fr
8,858,000 82.170.492 groves.-Central Tress.
Head Office:Hong Kong, Authorised Capital Paid-up Capital Total Resource Branches: Canton, Toishan, Shanghai, Hankow, Bangkok & San Fransisco
London Bankers: Lloyds Bank. Ltd.,.
Foreign Exchange and Banking HONG KONG SAVINGS BANK. busines of every discription trans-
acted
1 Buelnass of the abové Bánh is conduct ed to BONG KONG AND ENLANDIJAL BANNERO CORPORATION, Kutse may be
bind on application.
Kin THE HONG KONG AND SHANGHAI BANKINO. CORPORATION
Y. M. ORATBURN,
Chief MankesATI
Hong Kong, 25th February, 1935.
THE BANK OF EAST ASIA, LTD.
Akikorisad Cajonin Paid-up Capital
Sara and Dad
HEAD OFF
subiecie, pitters@10,000,000,00
Probte $2.434 100.00
OND KONG
12, Des Valua Road Content.
Mynd of piNECTORS 1— " Birou-ana Chow, Chairma
14 Inon C Eng., F. R. Kwok, Z. WOOL Yun Tong, Exŭ Chau Ching She, Esq., Id Las Bang Pac, Wh: Chu Buy Fay, and Ken Ting P. Eng.
Ka Tor P 1-n. Clio! Manager.
1. The Paugi, ..., Masager.
BRANCHES AND ADENOTES:-
moj
A cartila
Me
Bemarang
Bobw
Nagh
Bhaugha
Daleutia
Now
Singapor
Saxion
Chal
Koutny
alphasy
Paris
Breton
Bankow
Budg
Pediky
Banolulu
Trikaku
Kobe
Stangoos
Tiantain
Kowloon Codon
Saigon
Jobra
Petiong
Ba Franders
Tandon Tie Yokoham Every description of Ranking and Exchange Loans graciled approved insertad,
Darreal Arouutili speed to Eval Currenc and Fixed Depola reived for, convert beter peril in Local and Foreign Currencies interics which will be quoted, so appli
Safe Dupe Zionym To Lues,
KAN TONG PO
Chief Mag.
THE BANK OF TAIWAN, LID.
Head Office: Talboku, Formosa, Incorporated in Japan by Speciál Imperial Charter, 1809.
Central Bank of Fermosa, Notes
lasted Average amount Y.46,000,000
Branches and Agencies.
Japan Kabe, Osaka, Tokyo, Yoko
Keeling Makong, Nanto, hamu.hinchiku, Taichu, Tainan,
Shoha,
Trito, Takao, Tamaui, Teen, Karenko. Kugl, Helto, Giran.
China: Amoy, Canton, Foochow, Ban-
tow, Shanghai, Swatow.
Others: Bombay, Hong Kong, London, Singapore, Batavia, New York, Samarang, Socrabaya, Dairen,
and after April 20th, 1934, the rat of Interest on Special Current Depit will be at 1%% p.a. on daily balence and the rate for balance over 810,000 will be quoted on application, (Maximum rata-1%)."
Y. OHNO,
Manager.
8. Des Voeux Road, Central.
Bong Kong Branch
OF
CANTON'S DRINKING|
FACTORY
Current Accounts opened and Fixed To Be Completed Next Deposits received for one your shorter perlode at rates which will be quoted on application.
Safe Deposit Boxes (various sizes)
for hire.
LOOK POONG SHAN,
Chief Manager
SAFETY FIRST!
To Safeguard-Your Valuables and Jewellerfon. Deposit them in a Vault that is really: FIRE PROOF BURGLAR PROOF DAMP-PROOF!
Month
Canton, To-day. The work of construction of the drinking liquid factory in Sal- chuen established by the Provin cial Department of Reconstruction is fast proceeding. It is expected to be completed at the end of next month according to the De- partment.
The beer and the aerated water] departments will be first Lablished in the factory. Machines
*50
OUR SAFE DEPOSIT VAULT which have been ordered from located on the Mestanine Floor of abroad will arrive in the middle Our New building to Specially Con- of this month.-Central Press. atructed to provide all of these Im-
portant Qualities,
You may obtain Safe Deposit RAW RUBBER PRICES Box In this most up-to-date Vault for
your own use at a very moderate Re
tal.
Inspection Cordially Invited. THE NATIONAL COMMERCIAL
& SAVINGS BANK, LTD. -- Corner of 'Ice House Street and Des Voeux Road, Central
." THE
AMERICAN EXPRESS COMPÁNY,
INC.
Head Offee: 65, Broadway, New York
Latest Quotations From Singapore
Messrs. H. B. Joseph and Com pany have received the following Straits currency quotations from Singapore for Raw Rubber.
Spot 19 down . April-June 20% down. July-Sept. 21 % down 1 cent.
Market-Easier.
THE CHINA & SOUTH SEA BANK,
UMIITED
(Incorporated in China) Head Office...Shanghai
ROBOTTE
Branches
$7,500,000.00 $1,500,000.00
..All Important Cities
In China Foreign Exchange and
Capital Surplus Reserves
.U.S.$8,000,000.00 2,087,112.60 1,995,528.31
BRANCHES:--
Amitm
Capital
Antwerp Albane AU 11onize
Kic
• The Hague
Berlin
Harana Hamburg Ulaze
Bombay
Pirmus Paris Palpint Palet Halter
Bravasla
Cabre
Loodop
I dyrepand
Lugand
Maroel Monte Chile
Manila
Mobloh
Vlasta VARLOO Yokohacc Kurich
Unlevita Eno Colombe Caponhagia thoblig Edinburgh Finanze Genera
Haldalberg Talerlahan Zentralam
Iourna
Mostre
Rasna! Forthamploo Ringapor Tieniela *Taormina
Branches of American Express Com pany in Principal cities of United) States of America and Canada.
All classes of Commercial Banking ransactions undertaken.
".
General
Banking Business transacted.
Current and Saving Accounts opened and Fixed Deposita received for ong year or shorter periods at
rates, which will be quoted on application.
SOU Z. CHANG,
Manager. HONG KONG BRANCH: 24, Des Voeux Road, Central. Manager's Office....Tel. BJESH Foreign Exchange Dept.
33666 General Office
88567 Cashier's Offca.
» 38569
Personal Investment accounta¦ THE SHANGHAI COMMERCIAL
THE YOKOHAMA SPECIE BANK handled.
LIMITED.
Established '1880
Cenital Cully paid-up) Ten.100,000,000 Reserve Fund. ....... Yen:126,800,000
Head Ofte:--YOKOHAMA
Branches and Agencies at:-
Alexandria
Batavia
Nagasaki Nagoya
Berlin
Bombay
Calcutta
Canton
Dairen (Dalny):
Fengtien (Mullen)
Hamburg
Mankow
Harbin
Hong Kong Hainking
Honolulu
Karachi
Kübe
New York Osaka
Parla
...
Peiping Rangoon Rio de Janeiro San Francisco Seattle
Sherehe
London
Los Angeles Manila
Singapore Soerabaya Rydney
entain Tokyo Tangtan Yingkow
Maf
The Company offers to intending Travellers the use of its Traveler Cheques" and Letters of Credit and, addition, the world-wide services it thoroughly equipped Travel De partment.
E. W. DUGGAN,
Manager.
THE WING ON BANK, LTD. HONG KONG
Authorised Capital $10,000,000
Foreign Exchange and Banking Basinses of every description transact-
Current Accounta
opened, Special Deppaita, received, at special rates, and Fixed Deposits received for one year or shorter period at rates: which will} be quoted on appllection
Safe Deposit Boxes - (various sizes)
for hire.SANTE
PHILIP GOCKCHIN
Damnatie rosebrod for fixed periode Anthon Chief Manager
rates to be obtained.
&SAVINGS BANK LIMITED.
(Incorporated in Chfisa) ·
Capital paid up $5,000,000. Read:765
...$7,000,000, Capital Savings Dept. $500,000. Reserve Savings Dept. $600,000. Head Offen-Shanghai-/
A Bank having sa ita mission the Industrial development of. China and the fostering of her commer- - cial relations abroad, va Hong Kong oflice-7 Ice Hamile #1, Phone: 21481-3-3 °
Is It Insured?
Insurancs All Glassco EN: LOWEST RATES.6 American Asiatic Underwriters Fed. Inc. USA. General Agenta
Hend
estion L. GOCKCHING
17, The
Shanghal
KISHINA
Manarizi
Assistant Manager
YANMAGALISHU JONG :
long, Xọng, 11th March;-1988,
LOCAL SHARES.
''TO-DAY'S 'QUOTATIONS
The following is the list of local share quotations issued to-day:
Banka.
m.
H.K. Bank $1325 b. H.K. Bank (London) £1291⁄2 n. Chartered Bank £154 n. Mercantile Bank A. & B. $81 Mercantile Bank C. £18% n Bank of East Asia $851⁄2 n. Am: O. Finance Corp., Sh.320 n. China, O. Fin. Ord., Sh. $1.80 m China O. Fin. Pref Sh. $4% n.
Insurances.
Canton Inc. $260 m. Union Ins.. $415 .
China Underwriters $11⁄2 n. China Fire Ins. $490 n H.K. Fire Ins. $225 n.
- International Assce. Sh. $5.
Shipping.
n.
Douglases $30 sa. H.K. Steamboats, $7 Indo-Chinas (Pref.), 130 n. Indo-Chinas (Def.), 888 n. Shells (Bearer) $48/9 n. Union Waterboats $121⁄2 n.
Mining.
Antamoks 88 cts. sa. Balatoes $43 8. Baguio Gold 89 cts. n. Benguet Consolidated $14 n.
Benguet, Exploration 15 ets. D. Benguet Goldfeld 10 ets. p. Big Wedge, 10. ets. n. Gold Creek 381⁄2 cts. n..
Gold Rivers 18 cts. b., 17 cts, sa.
Ipo Mining $11⁄4 'n.. Itogana 42' cts. ni Salacots 16 cts. n.
Kailan (Single) Sh. $16/9 n. Langkata (Single) Sh. $18 a. S'hai Exploration Sh. $5 n. S'hai Loans, Sh. $6 .. Raubs $58.
Venz; Goldfield $5 .
Docks, etc.
NEW YORK STOCK MARKET
LOCAL DOLLAR STEADY
Silver Prices Advance
Further Uncertainty
NEW ADVERTISEMENTS
CHINESE ESTATES, LIMITED
NEW COMMODITY BREAK ADDS TWELFTH ORDINARY YEARLY
TO DIFFICULTIES"
MEETING
N
In their market report. Messra.TOTICE IS HEREBY GIVEN The local dollar is steady, opening SE Levy nad Company, Correa
that the TWELFTH ORDIN on demand this morning at 1/11. pondents for Mesara White Weld ARY YEARLY MEETING OF Spat silver has risen and for and Company New York state- SHAREHOLDERS will held at the ward 3/16, being quoted at 27 3/16 "Stocks: To-day's commodity Company's Offee at China Buildings and 274, respectively. break adds further uncertainty to (5th floor) Hong Kong, on TUES The London on New York cross-the already difficult situation, and DAY, the 26th March, 1985, at 12 rate was quoted at U.S.$4.77, the market's position to-night jeo-o'clock noon, for the purpose of re as compared with U.S.84.77, pardises the support levels which ceiving the Report of the Directors while the New York on London rate were established last Wednesday, and a Statement of Account for the the breaking of which has increased year ending 28th February, 1935. was quoted at U.S.$4.70%, as
the volume of liquidation. compared with £-U.S.34.77. *
We, and of electing two directore and an would like to advise the protection auditor
EXCHANGES.
TO-DAY'S QUOTATIONS..
On London—
On T.T. and demand
4 months' sight
1/1184 1/11%
Credits 4 months' sight.2/-
Dn Shanghai-
On demand
120
On Singapore-
On demand
On Manila-
By Order of The Broard of
of the position accordingly. Busi- The TRANSFER BOOK of the ness done: 800,000 shares.
Company will be CLOSED from the" "Colton: The psychological effect 13th March to the 26th March, 1935, of the old crop breaking through both days inclusive. the 12-cent level caused an avalanche of liquidation and. belated heavy hedge-selling by those, who pre- viously believed that the 12-cent loan would make declines below 12 cents unlikely. We feel that pur-
Directors, FUNG PING FAN, Director and Secretary.
Hong Kong, 12th March, 1935.
chases of July option are warranted THE HONG KONG & WHAMPOA
on further declines, as the Govern-
ment loan on the old crop is still
operativo on farmers who have un-
DOCK CO., LTD.
8434 sold cotton, but we would postpone NOTICE IS HEREBY GIVEN purchase of new crop cotton until Meeting of Shareholders will be.
that the Ordinary Yearly
the atmosphere clears.
"Commodities: The action cotton was the principal influence. on MONDAY, 25th March, 1985, at
held in the Office of the Company, 2 of!
Queen's Building, Hong Kong, on
other commodities.
"Flashes: Mill activity is esti-Directors' Report and Statement of Noon, for consideration of the mated at 47.1 per cent. of capacity.Accounts for the year ending Bist"
"The decline in cotton is attri-December, 1934. buted to the gaining conviction that The SHARE there will be no loan announcement TRANSFER
REGISTER and
-BOOKS
will be
in the near future on new crop, also CLOSED from the. 18th to 25th to mill liquidation."-Reuter, March, 1985, both days inclusive,
(Continued on Page 7)
By Order of The Board of
Directors,
COMMODITY PRICES
The following quotations have been received by Reuter.
E COCK, Chief Manager.
Hong Kong, 12th March, 1935.
THE YOKOHAMA March
SPECIE BANK
H.K. Wharves $101% n. Cum rts. Rate of native interest H.K. Docks $108.
Chinese Sub, Coin Providents (old), $1.20
Hong Kong Sub. Coin. Providents (new) 20 cts, n. Hongkews, Sh. $309 B New Engineering Sh. $51⁄2 6. S'hai Docks, Sh. $120.
Cotton Mills, Ewo Cottons Sh. $8.70-a. S'hal Cotton (old) $74 n. S'hal Cottons (new) $45 n. Zoong Singa Sh. 89.30 . Wing On Textiles, Bb. 855 n. IK. Wharves rights $20 n. H.K, Wharves ex. rights- $99 n. Lands, Hotels, etc. H.K. and S. Hotels $4.70 8. H.K. Land $41 an. H.K. Land 4%
May
XXEREX=
Everything
BUT YOUR
RENT
FOOD
CLOTHING
On Japan:-
On demand
1671⁄2
On India-
On T.T; and demand
181
On New York-
On demand............
474
Credits 60 days' sight
48%
On Batavia
On 'demand
68%
On Paris-
On demand
'707
Credits 4 months' sight .787%
On Saigon-
On demand
7034
On demand
94%
On Bangkok--
On demand.. Sovereigns bank buying rate
9334
2/-36
Bar Silver per oz.
474
New York, to-day,
Bar silver in Hong Copper cash Copper cents
New York Cotton:-
Kong....nom..
Mar. 10. Mar. 11.
... nominal 1%. prem
..3% pa.
March
12.02
11.06
May.
12,13
11.14
gone
July
12.19
11.15
.282 % dis.
October
11.93
10.77
.par.
December
11.98
10.87
SAVINGS
January (1936). 12.03
10.84
Spot....
12.80
-11.80
New York Rubber:
11.91
12.02
11.65b 111.78
12.16. 11.85 12.82 12.02 12.38 12.08
December
12.55 12.26
Chicago Wheat:
HEAT
At the 10th Half Yearly Ordin-May Jary General Meeting of the share- July
05% 08.3%
90%
88%
102% 11.
holders of The Yokohama Specle September Bank Ltd, held at the Head Office Chicago Cora:--- Debentures of this bank at Yokohama, on
May March 9, a net profit of Yen 15,491,-| July
90%
8834
TAXES
81
79
WATER
774
75
Shanghai Lands Sh. $22 n.
825.02 was shown, including Yen September
74%
72%
CHITS
Humphreys $91⁄4 n.
H.K. Realties' $5.10 n.
May........ last account. It was resolved- to make the following allocations: New York Sugar:
July To Reserve Fund..Y. 1,650,000.00 Dividend of 10%
883
83%
83
832
Old New Old New
March
2.07 2.06 2.06 2.07
per
May
July
5,000,000.00
8,941,325.02
Y.16,491,325.02 The following gentlemen have been elected to the Board
of Directors
Mr. K. Yano and Mr. R. Watan abe..
September December New York Silk: March May July Montreal Silver:- March May July
2.30%
1.80
1.28
1.29
1.27
1
59.00
69.55
59.45
59.28
*59.98
60.65"
September
60.30
61.00
New York Metals:
Mar: 7. Mar 11
Copper March Tin March
46.20
46.60
Yen 15,491,325 Profit Reported
July September October
-Metropolitan Lands Sh. $12.20 n. 8.256,944.77, carried over from the Winnipeg Wheat:-
Asia Realties "A", Sh. $100 n. Asia Realtles "B" Sh.$17 D. Chinese Estates $93 n. China Realties Sh, $9.60 n.. China Debentures Sh.$128 n.
Public Utilities
H.K. Tramways $18.30 b., $18/-
18/40 an.
Peak Trams (old) $8% n. Peak Trams (new), $6. Star Ferries $89 n;" Yaumati Ferries $22 n.
C. Lights 39.90 b., $9.95 mm. H.K. Electrics $69 b. Macao Electrics $25 n Sandakan Light $8 n. Telephone. (old). $241⁄4 n. Telephone (new) $10.15 n.. China Buses Sh. $12.40 n. Singapore Traction 10/8 n. Singapore Pref. 20/6_n.
Industrials
Malabon Sugar $81⁄2 n. Cald: Macg (Ord.); Bh. $16 n. Cald: Macg: (Pref.); Bh. $16 n.. Cantón Icas $21⁄4 n.2 Cements converted $7.60 H.K. Ropes $3.80 n.
Stores, etc. Dairy Farms $22 n. Watsons $8% n
Lane, Crawfords $3.75 z. Mackintoshu, $21 n. Bincerea $8 n.
Wm. Powells, 70 eta, n. Wing On (H.K.) $105_n.
Miscellaneous.
"H.K. Amusemente $1.85 n...
Entertainments, 3715-mi 8.0. Enterprises $1.85 n, Macao "Greyhounds, 2 n. Constructions (old) $1.70 n. Construction (new) 60 ets. n. Vibro Piling $5
Ch. Govt 6% 1025 GBBda
HK, Govt 4% Loan, 6%% HE GOTL 8% Loan 2%
Wallace HarpaKE $74-1
annum'
(for the half- year ended 31st December 1934). To be carried for ward to next, account
NEW YORK STOCK EXCHANGE
Reuter Quotations
March 12. The following. quotations from New York have been received by Reuter... Last close: 10,15 4.76% 4.70% 4,77%
N.YULondon
NY Cotton
July
Och
12:10 12.11 11.98 11.89
12,16 12.82
.12.01
N.Y. Rubber
July
Bept.
C. Wheat May 05
July 100% C. Corn May 81 W. Wheat May 88%
STOCKS
Amer Smelting 84%
Con Gas N.Y.
Du eat.
∙17 174 013492 Elec-Bond & Sh 4% 4% ? Int Tal & Tel, TA General Motors 28% 28%
Loew'd
Inc 35% 354 premontgomery W..28% 240 2414 Nat Distillers 28% 26% 25% NY: Central 1871 187184 Standard Dil NJ, 57 B737
2.12 2.10 2.12 2.11 2.17 2.16 2.17 2.16 2.222.22 2.92 2.22 2.28 2.28 2.27 2.27
SAVINGS
SAVE SOMETHING
START NOW
1.28% UNDERWRITERS SAVINGS BANK
FOR THE FAR EAST,
INC.
Asia Life Building Hour Lon
Tel. 50234
6.566.05.
S. E. Levy & Co.
‚7, ICE. HOUSE STREET
"INVESTMENT BANKERS BROK
MEMBERS.
NEW YORK COTTON EXCHANGE"
COMMODITY EXCHANGE, ING. NAT. CHICAGO BOARD OF TRADE
CANADIAN COMMODITY EXCHANOJ, INC.
CORRESPONDENTS FOR
WHITE; WILD, ÔC CON, NEW: