BANKS
HONG KONG AND SHANGHAI
·BANKING CORPORATION
Authorized Capital
$50,000,000 Issued and Faily Paid-up 20,000,000 Reserve Fands.......
Sterling
Silver
£6,500,000
$10,000,000
Reserve Liability of Pro-
Szetors
THE CHARTERED BANK, OF INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter, 1858...
HEAD OFFICE: LONDON
20,000,000 Reserve Liability of Pro-
HEAD OFFICE, SONRIDEL BOARD OF DIRECTORS.
* K. Delwell, keq, Chairman,
CC. Kang, R«. Domsty Canirsa,
Hoa. Mr. W. H. Bell
A Campton Exq
Paid-up Capital Reserve 'Fi
#000,000 £3,000,000
prietors
3,000,000
Agencies and Branchen:
Alor Boar
Thalia Ipok
Raccom Beigos
Bangkok
Catarina C
A Phammer, Eston
3. T. Johnson, 34.
Hon. Mr. J. J. Paterson,
G. Miskin Eng- T. E Pearce Esqi
BATAVIA
CANTON
FOOCBOW
O
HAMBURG
BARKIN
HUNG LEW
THE
JAME
IGLE
KOWLOON
YUM. Graybara, Jalg
-Chief Manngat. 22
· BEANCHO
IGALA LUMPUR
LONDON
LIONS
STALACCA
MANILA
NUAN Chore)
MCKDEN
NEW YORK
PEIPTSG
PENAKO
XAXOOCAN
SAIGON
多
SAN FRANCISCO
SELANGEAL
SINGAPOR
SOGRABAYA
#178 PATANI
THENTAI
TOKTO
TSINGLO
TOKOHAMA
Cum popsaka apse 100-year of md Plaed Depura sher parts in Lasni Company and Berling Brad Mich will be quoted on soplácstic.
Hong Kong, 7th May, 1935
HONG KONG SAVINGS BANK.
•The Brandon of the above Bank is condnet- ed a HONG KONG AND SHANGHAI Bales may be BANKING CORPORATION,
abeth o wpplication.
FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.
F. M. GRAYERS
Chist vonger.
Hong Kong, 25th February, 1935.
THE BANK OF EAST ASIA, LTD.
Butherland Capital
Puidup Capital
Beers and Undivided Profia
d,EM6,900.00
HELIN OFFICE:--HONG TOXO
I'm Vans Bond Contra
BOARD OF DIRECTORS; wan
Bu Shu-shen, Chairman,
Icom Crisis Ex I. Kwok, Im
Roangbal Singapore
Lectu
.-
Cebu
Kuching Nadine
Colombe
Mardla
Taiping Tierwe
Kedaa
Tongka
Haippany
Yore Tork
Hamburg
Pattskar
Haakon
Farble
Blog Tang
u མ42}
(B) Taingian
Tokoma
Zamboanga
Formiga Zambonge sad Gapers) Banking bustronn www.manched.
Carryca Awas opened and led Deponi
zenstved for www sunc or skorine pocinka að chinu which will be quoted on applesto
A. BEEARLEY.
Manager
Hong Kong, 1st. January, 1935.
· SAFETY FIRST!
To Safeguard Your Valuablas
at med Jawalacios. Deposit them in a Yanl
that is really-
• FIRE-PROOF BURGLAR-PROOF DAMP-PROOF!
OUR SAFE DEPOSIT VAULT -
THE CHINA MAIL WEDNESDAY, JUNE 5, 1935
Commerce and Finance.
LOCAL, DOLLAR
DECLINES
Silver Prices Fall
a
The local dollar has declined further 4. opening on demand this morning at 2/4
Spot silver fell 1d. to 32 and forward to 3234
J
The London on Ner York cross- rate was quoted at £US:$4.9254, as compared with 5 US$4924
Lon- while the New York on
Cross-rate (don
was quoted at US$1.94, as compared with S-US $4.923.
EXCHANGES.
TO-DAY'S QUOTATION
x50+
|On London--
On T.T. and demand
4 months sight
On Shanghai-
On demand
3/4
2/43
Credits 4 months sight 2/5
located on the Messanine Floor of On Singapore On demand Our New building is Specially Con- stracted to provide all of these Im-On Japan-- portant Qualities
You may obtain a Safe Deposit Box in this most up-to-date Vant for your own use at a very moderate-Fan- tal·
Inspection Cordially Invitad.“ - THE NATIONAL COMMERCIAL
& SAVINGS BANK, LTD.-9
60
LOCAL SHARES.
TO-DAY'S QUOTATIONS The following is the list of local share quotations issued to-day-
Ranks.
HK Bank $1,000 $1,01S 32, H.A. Bank (London) $124%
Chartered Bank 514 n. Mercantile Bank A. & R. $1 Mercantile Bank C. £1934 n Bank of East Asia $51. n Am: 0. Finance Corp. China O. Fin. Ord, Sh. China O. Fin. Pre Sh
-*· Insurances. Cantor Ins. $203 1. Inion Ins.. $335 sa
China Underwriters 90 cts. 1. China Fire Ins. $322 ni EK Fire Ins. $200' International Assce.”
Shipping.
Douglases $36 b. Ex. div. HK Steamboats $4 n. Indo-Chinas (Pre), $30 m Indo-Chinas (Def), $33 x Shell (Bearer) 72/6 n. Union Waterboats $114 n
Mining.
Baguio Gold 21 cts. n. Benguet Consolidated $10 Benguet Exploration 10 cts Benguet Goldfeld 10 cts. ne Big Wedge 8 cts. .. Gold Greek 30 cts. n. Gold River 7 cts, n. Ipo "Mining 85 ̊ets. n. Itogans 30 cts. sa
140
Antamoks 68 cts. D-
Balatoes $34 1.
995
On demand On India
198
On T.T. and demand... 154% On New York-
On demand
... 57%
Credits 60 days' sight
On Batavia.......
On demand
$474
On Paris
Kailan Mining Ad. 17/- 1
On demand
$65
Credits 4 months' sight
915
On demand
864
Shai Exploration Sh.$44 m. Shai Loans Sh$5 3. Raubs $5.15 sa.
On Manila-
Head Office:—Hong Kong.
$11,000,000 On Bangkok-
8,655,000
Venz; Goldfeld $5 a.
On demand
1144
On demand
"Corner of Ics House Street and Des Voeux Road, Central
THE BANK OF CANTON, LTD. On Saigon
Established 1912.
Authorized Capital
Paid-up Capital
I'm Tong. Zag Chang bek, Zog Li Lab Total Essources ...
Ing In Wong Go one Seq. and Em
Iss Tong P. Eng. Cilut Misnager. L The Fors. Eng, Mangal.
BLANCHY AND AGEN J
Sentzia Bomerang
Bombay
New York
Blogogers
Deco
Ceska
hourshies
Pam
Биолог
Pasping
Penang
Sydney Taikoku
Haagam
*
San Franden
7916
12.170,492 Sovereigns bank buying rate 2/5 This Branches: Canton, Taishan, Shanghai, Bar silver per oz.
Every dartsption of Baubing, and Verbangu
·Stone Socied
Low gred on 'appromal
Accu općin
1 CME
and "Fland Deposit rented for son_J
Hankow, Bangkok & San Francisco. London Banker Lloyds Bank, Ltd., Bar Silver In Hong Kong
Foreign Exchange and Banking Copper Cash-
wetet.
3212
nom.
of every discription trans Copper Cents
.par. 3% p.2. Current Accounts opened and Fixed Rate of Native Interest
Chinese Sub Coin ......27% dis Deposits received for one. shorter periods at rates which will be Hong Kong Sub Coin quoted on application.
TEST OF
Safe Deposit Boxes (various sizes); fer hire
LOOK POONG SHAN,
THIR
sorter parade in Lead and Farsigs Common AMERICAN EXPRESS COMPANY,
■ serine which will be quoted en applications. “
But Deposit Boxme To Lik
FE TONG PO
Chief Hanger,
Montreal
Brussels
Geneva Amsterdam Milan
Salacots 12 cts. ¤.
Langkats (Single). Sh.$14 n.
Docks, etc.
NEW YORK STOCK
MARKET
Swift Price Recovery
FUNDS SEEK EMPLOYMENT. IN GOOD EQUITIES
to the marker" report. Messa 5. E Levy and Company," COFFEE" pondents for Messrs. While Weld
FINANCIAL
CONFERENCE
IN SHANGHAI
Situation Worse After Bank Closures
DR. KUNG INTERVIEWED
Shanghai, To-day.
Dr. H. E. Kung. Minister of
CHINA'S NATIONAL BUDGET
Education Charges To Be Increased
LARGE ALLOWANCE FOR
RECONSTRUCTION
Nanking. The National Budget for the
and Company, New York, state Finance, has convened another im- fiscal year of 1935-36 is
дож
“Stocks: The swift price, re-portant conference with the local under preparation by the Office covery in the last few days mainly bank and native bank leaders for of the Comptroller-General of implies the continuation of interest this afternoon to discuss the local the National Government. of large investment funds seeking financial situation, which has been] It is learned that the budget employment in high grade equities, agravated by the closure of two estimates the total expenditure for the year at $957,000,000, of regardless of disturbances in the Chinese banks.
Gold Floe countries. Washington Mr. Kung interviewed stated which $739.000.000 will be pro- influences and Summer business re that the Government had decided vided by the National Treasury, to be cession, though the latter forces are to plan the reorganisation and while the remainder is
the varions likely to influence further price re-readjustment of financial institu-raised jointly by cessions in the next few weeks tions with a view to maintaining Government revenue-producing Should the President take definitely stability Assistance will be ren-organs.
The budget provides for an constructive steps to offset the re-dered to those banks only which cent deflationary prophecies, an ad-refrain from speculating and other increase of $4,500,000 in educa- operations, while those tional expenses and an increase vance to the recent high levels risky (possible, where we suggest taking found guilty of misappropriation of $10,900,000 in reconstruction profits, of interest. London arbitor other corruption will be sup-expenses, which will be mainly rage was a steady buyer in the last pressed-Reater. hour of trading to-day, but we
would caution against buying at the
opening if the market, is strong. Business done: 870,000 shares.
(Continued on Page 7)- Latest Quotations The following quotations have been received by Renter
NY/London
Cross-rate
Prer. To-day's sloga Zloss
4929
BERLIN STOCK- MARKET
SHARP AND LARGE RISES IN PRICES
¡devoted to water conservancy work and general reconstruction purposes.wik
Referred To Yuans
The preparation of the budget. is expected to be completed by the middle of next month.
As
soon it is ready, it will be sub-
mitted to the National Govern- ment, to be referred first to the Executive Yuan and later to the Legislative Yuan for examination
“CHINA MAIL * SPECIAL
Berlin. To-day Very sharp and substantial rises and action. 4.964 in prices characterised the share The previous report that the 11.54
market yesterday, though the actual budget had already been submit- 12.55
turnover was comparatively small ted to the Legisative Yuan for Operators were hesitant in view of discussion was incorrect--Ché- the high price level already reached, kiai Agency. bat smaller orders from bark- cus-l tomers were prevalent and proved enough to drive the market higher, {since-few offers of shares were available to satisfy the demand.
80% 7470
NY. Cotton-July 1113 N.T. Rubber-July 1225 Chicago Wheat-July 8275 Chicago Corn-July 80% Montreal Silver--Dec. 76.40 Silver Official
737% 72 Dow Jones Averages 30 Industrials 171.45 113.58 2:13 up 20 Rails
30.7 3127 50 up 20.41. 20.7130 up 9491 949% 02 up 11-Commodity
Inder 55.56 56.79 123 up Business Donez--870,000 shares.
20 Ulities 40 Bonds
HK and K. Wharves $82 s. Cum. NEW YORK STOCK
H.K. and K. Wharves ex right!
$814 8 HK and K Wharves right $4 m.) H.K. and W. Docks $91⁄2 n. Providents (old) Tsets. b.: Providents (new) 20 ets. n. Hongkew Sh. $25734 2. New Engineering Sh.35 m. S'hai Docks Sh. $110
Cotton Milis.
Ewo Cottons Sh. $3.30 n. Shanghai Cotton (old) Sh.$70 n. Shanghai Cottons (new) $43 12. Zoong Sings Sh. $811⁄2 n. Wing On Textiles. Sh. $55 n
Lands, Hotels, etc.
EXCHANGE
Reuter Quotations
Jase 5.
Oct
N.Y. Rubber
July Sept
The following quotations were re ceived by Beater KT/London. 1927 492% 492% NY. Cotton
July
1.1.13 11.40 12.41 *11.09 10.84 11.08
12.50 12.62
72253 12.43 **12.35
*80
82
▾
C. Whest July 8214 C. Corn July 80% W. Wheat July 82% STOCKS:—
423
LONDON EXCHANGES
- Chief Manager |
London. Yesterday.
Paris
New York
74 17/32
4.93% 4.934 29.00 15.7014
H.K. an. S. Hotels $4.15 2. ELK. Lands $31 b.
Amer Smelting 424
Con Gas NY.
24
243
727
Elec Bond & Sh. ·8
8
84%
593%
HK Lands
4%
100%
Debentures General Motors 30%
8
30%
30%
Int. Tel & Tel
Loew's Inc.
38% 39%
Montgomery W. 25%2 N.Y. Central 16% 16% Standard Oil NJ 463 U.S. Steel
257%
COMMODITY
INC.
Head Office-65, Broadwaj, New York
Berlin
Capital
„U:S.$8,000,000.00
Prague
2,087,1149
THE CHINA & SOUTH SEA BANK, Surplus
LIMITED
(Incorporated in China)
Head Office ...Shanghai
Capual
Reserve
Branches
$7,500,000.00
$1,500,000,00
All Important Cities
in China
Foreign Exchange -
Reserver
Šmuksekaan. Answerp.
Bealet Bertin
Bombay
"Brosnale.
BRANCHES:
Glanga
The Hague Bavade Hoseburg
Eric JersJou
1,995,528.81
Milan.
Kapl
Facia
Paberine Rotterdam
Shanghai
Madrid
Atheas Belgrade Monteviden Shanghai Hong Kong Silver Spot Silver Forward. War Loan 3%
m
and General
Banking Business transacted.
Current and Saving Accounts 'opened
and Fixed Deposits received for ons
Pear or shorter periods at rates which
was be quoted on application.
BOU Z. CHANG.
Mariage.
HONG KONG KRANCH:
24, Des Voeux Road, Central Manager's Office ......Tel. 33565 Foreign Exchange Dept.
General Ounce
Cashier's Office
-- $3558
33557
THE YOKOHAMA SPECIE BANK. LIMITED.
Established 1889
Capital (fully paid-up) Yen:100,000,000 Yen 125,800,000 Reserve Fund
Head Office:-TOKOHAMA
Branches and „Age Alumandria
“Bombay”
Calcutta,
York
Carton
Fengtian (Makan). Hankow
Jensizo
Calco Calorie
Си
Colombe Copenhage
Dublin Zilchagh Pomon
London Literponi Lomens Logom Lahor
Monte Carlo
Musion Montrac
Bo
Trocain
Vienen Trulon
Zeric
Branches of American Prons' Come pany in Principal cities of United States of Ameries and. Canadi. -
All classes of Commercial Banking Fransactions undertaken.
Personal investment BOCOCEEDE *kroded.
The
Company offers to Intanding Aravellers the use of its velor's [Ebeques” · and Letters of Credit anda in addition, the world-wide services fits thoroughly equipped Travel De-
W. DUGGAN,
12.15
117 9/16 35-13/16 512 Sellers
215
39% S.0.
1/7
2/47%
32%2
106
-British Wireless Service
THE MERCANTILE BANK OF *INDIA, LTD.
HEAD OFFICD:
25, Gracochard Street, London, ECE
Authorised Capital
Subscribed Capital
Paid-up Capital
Reserve Fund & Best
BUSTERS.
£3,000,000
1,500,000
1,050,000
1,247,422
*The Bank of England'rk Vidond Bank, Lad.
BRANCHES:
Bangkok
Bawber Calcetta Colombe
Ino
K
Dalki Challe
Kota Bharu
Kuala Lumpur
~ar, York Pemane Port Loui
(Moselina) Bangcom Shango
Singssam
Hong Kong Honetan (Fring) Bio Borns
t
HCSO IOSO ERISCH Zawry-description of Bandleg sok. Itsehanga had-
Trustee and Executorships under- taken. Manager.TREST allowed in Chierach Locouche
an application.
THE WING ON BANK LIMITED
Head Office: Hongkong 26, Des Voeux Road Central: Authorized Capital $10,000,000/
LONDON BANKERS— Westminster Band, Ltd. Foreign Exchange and every descrip tion of banking businesses
Current Accounts recrived at
"opened","
3. KENSTEDT
Drona's Boné Contest, f Hong Kong, 1st April, 1835,
THE SHANGHAI COMMERCIAL &SAVINGS BANK LIMITED
Cincorporated in China)
paid up
A Bank he
£5,000,000
300%
Shanghai Lands Sh $2014 1. Metropolitan Landa Sh. $10 Humphreys $8 D.
HK Realties $3.80 b. Asia Realties "A", Sh. Asia Realties “B”, Sh
Chinese Extatės $90 n. China Realties Sh. $7 n. Chizz Debentures $123 n.
Public Utilities –
HK Tramways $13 b. $12.-
· 90/13 32.
Peak Trams (old) #81⁄2 n.
Peak Trams (new), 36 m.
C. Light $8.20 b.
31%
16%
PRICES
The following quotations have (been received by Reuter.
New York Cotton:-
CANADIAN MINING
ENGINEERS
On the fixed interest securities mar- In Demand Throughout
ket prices hardly changed, business being becalmed. Call money was at 13% to 3%--Trans-Ocean Service
CZECH
CREDIT FOR SOVIET
250,000,000 CROWNS AT 6 PER CENT,
: "CHINA MAIL". SPECIAL
The World
ENQUIRIES FOR SERVICE
Othawa
It is Canada's boast that she įproduces mining engineers second to pone in the world for skill and resource, and this would seem to be borne out by recent enquiries for their services by other countries.
According to Mr. James Mason, Prague, To-day. mining expert of Toronto, Haile After many weeks' bickering the Selassie, Emperor of Abysinnia, negotiations for Czech credit to desires Canadian mining engineers Soviet Russia were brought to a to help in the development of successful conclusion here yester Ethiopia's natural resources. day. A syndicate of the Czech province, of Gojam, it is stated, banks, headed by the Zivnostenska containing the richest gold field in Banka, will grant the Soviet Union Ethiopia, has been set aside es credit amounting to 250,000,000 pecially for development by Cana crowns at 6 per cent, repayable dians. lafter five years.
Canadian mining experts
The
are
The credit will be guaranteed by already at work in large numbers the Czech Government and will be in South America, and now word used exclusively for payment for has come here that the Argentine. industrial orders to be placed by
the Soviet Union with Czech firma republic wants to get hold of Cana- dians to study the potentialities "of in the course of the next twelve months,Trans-Ocean Service."
EXPENDITURE DECREASE
Exchequer Returns
the foothills of the Andes. Mary a Canadian is also to be found superintending the working of mines in Siberia and other parts of the Far East
out
Hard Training The Canadian inining engineer is trained in a "bard school. Until the advent of the aeroplane-now an London, to-day-Exchequer re-nihilating distance between
for the current francial back mining felds and civilisation year, up to June 1 show that the he has had to fit himself for long total ordinary revenue, exelrding and arduous journeys by cance, in self-balancing items, amounts to the summer time and by dog-team 193,861,529, as compared with in the winter. He has an extra». 493,725,927 at the corresponding ordinary variety of minerals to date last year
work ́on.- Canada is a vast country The total expenditure, exclusive and the greater part of it is highly « of self-balancing items, amounts to mineralised. Much wealth has yet £135,587,149. At the corresponding to be tapped.
Prev. Yesterday Closing Closing
July
October
· Star Ferries $7792 z.
December
Yaumati Ferries 320 n.
HK. Electrics $58 b., $5734/58
Jan. (1936) March
May
sa.
Spot
11.54 11.13 10:84 11.26 10.87 11.29 10.90 1134 10.99 11.42 11.00 1156 11.50
Mens
11.90
| New York Rubber:-
July
September
December
12.253 12.35 12.57. 12.88
12.55 12.68
Macao Electries $231⁄2 n Sandakan Light $5 z. Telephones (old) $19 b. Telephone (new) $33⁄41⁄2 n. China Buses Sh. $114 m. Singapore Trsation 10/6 b. Singapore Pref. 22/6 h.
Industrials
Malabon Sugar $81⁄2 1.
Cald: Maeg (Ord), Sh.$19 Caid: Maeg. (Pref), Sh.$15 1. Canton "Ices, FEB0-11. Sements $5% n. Converted.. HK. Ropes $2 m..
Stores fe
Dairy Farms $13.10 b. Watson $3
Lane, Crawfords $3 n. Mackintosh $9 m Sfaceres $8 a WIL Powells. 70 cis. n. Wing On (HK) $100 n. Media Miscellaneous, HK Amusements $1.85 Entertainments $6,40 m. p 3. C. Enterprises $1.35- Macao: “Greyhounda Constructions (old Constructions
CL GOVE
January
*12.99a 12.672 $12.79b 13.12 12.95 13.28
March
May Chicago Wheat-
July
September
$4 8254 832 85
December
85
87/2
Chicago CornLS July
80%
September
75
December
63
80% 75% 6334%
Winnipeg Whest:--- July
82%
-835%
| New York Susarz
July Sept
Jam (193
New July
date last year the total was
Canada leads the world in nickel, £137,324,681-British Wireless Ser-23bestos and cobalt production and
vice.
is second to South Africa in gold production. In addition it is the RAW RUBBER PRICES only radium producer in the Bri-
tish Empire and has great copper-
Singapore
Latest Quotations From Fealth. This year the Government intends to spend a million dollars in sending 900 mes in 180 parties, led" by trained geologists, to secure data Messrs. H. B. Joseph & Co. háve about the Dominion's minefal received the following Straite Cuz-wealth as yet untouched Gold will Frency quotations from Singapore the main object-Reuter
Buyers Sellers
29 / T / 20 1⁄2
It Insured? ?
No.3 No. 1 No. 3 101 Raw Babber. Con. Con. Con. Con.
Spot 2:30 229 2.38 2.67 236 235 244 242 July/Sept.
Oct Dec 239 2.50 246 2260 2.14 2.35 220 Jan./March
221 Up:3⁄4% 21.
122 3/4 Up 36
23 % Up 1⁄2 Z Market: Steady
BERLIN QUOTATIONS
2.22
180/2
1.85 1337/2
188
ations
74.50
73.10
*78.70%
Berlin To