BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION
Authorised Capital
$50,000,000
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Issued and Fully Paid-up 20,000,000 Incorporated by Royal Charter, 1853. Reserve Funds—t
Sterling £6,500,000 Silver $10,000.000 Reserve Liability of Pro-
prietors
HEAD OFFICE HONG KONG.
BOARD OF DIRECTORS,
S. B. Dodwell, Enge
Crairman,
HEAD OFFICE: LONDON
Paid-up Capital 20,000,000 Reserve Fund
3,000,000) 65,000,000)
Reserve Liability of Pro-
guzietors
£3,000,000
Agencies and. Branches:
Inila
Fangoes
Assiteer
Bazgick
Karachi
Klang
Dammber
Calrapte
Carton
Lapar Kuching
A. E. Compton. Esq-.-.
Catre
-1
- Kedan
New York Piping
(Peling) Fonsag
Taittad
← C Knight, Ing.
Deputy. CharYIDAE.
V. 32 Gexyoura, Esq.,
Chief- Manager.
W. H. Bell, Esq. A. S. Morrison ES-
M. T. Johnson, Bag, Colorado
Deli Hon. Mr. J: J. Paterson,
Harphong G. Miskin, Esq. T. E. Pearce, Ebers
ΑΝΟΣ
RANGIOR
BATAVIA
BOMBAY
VITA.
HAIPHON
HAN
HANKO
HARPIN
HON=KEY
FLOITO
JOH
PORORE
KORE
KOWLOON
BRANCHES
LONDON LYOXS
SLALACCA
NAXILA
NUAR obere}
NUKDEN
NEW YORK
PEIPING
SENANG
KANGOON
SAIGON
SAN FRANCISCO
KUALA LUMPUR.
SHANGHAI
SINGAPORS
SOURARĀ VA
<ENGED PATANI
- ngay young mapani Ja
THEYO
TSINGTAO
TOKOHAMA
Comment Amoene exprend its Loral Cummen (5
and Fixed improvite pretend for her or shqan perial da Lomal Company and starting -
Barbie Đoạn Trong
transacted.
Shanghai Singapore
Tongkah
Yokoha Zamboang
Foreign Exchange and Csomal Banking Bestine Current Accounts opened and Fixed Deporte received for one your..or shorter periods at' rates which will be quoted on' xɔpleation.
A BREARLEY,
Manager. Hong Kong 1st January, 1935.
THE BANK OF CANTON, LTD.
Established 1932.
Head 06ce:---Hong Kong.
Authorised Capital
Total Resources
ich will be quoted in prisonHankow. Bangkok & San Francisco.
Hong Kong. 6th April, 1935.
HONG KONG SAVINGS BANK
The Bin of the above Imara in conduca
rd de tiu 14NG KONG, AND SHANGHAI BANKIM. ACRPORATION
Oblastend 1985 tyverison.
J
Shay
the
BANKING CORPORATION,
3. M. CRATEKEN,
Boug hang. Si Purdy, 295.
THE BANK OF EAST ASIA, LTD.
Aetherived Capital
Paid-up Capital
Beserve and Codirmir
Li En
•
~,480,000,00
BRAD OFFICE. JONG KONG
12 Den Vs Bad weat
BOARD OF THEEXTOR
bus p. K ...
Chunx, 4 ready
Chon
JUD Tang. En.. Chan Came Shen
THE CHINA MAIL, WEDNESDAY, JULI
Commerce and Finance
LOCAL DOLLAR DECLINES
Silver Prices Fall
The local dollar has declined a farthing, opening on demand this morning at 2/24-
Silver prices, however, also fell a farthing, spot being quot- jed at 31 and forward st 316-
LOCAL SHARES
TO-DAY'S QUOTATIONS
NEW YORK STOCK MARKET
Summer Decline Now More In Evidence
OUTLOOK FAVOURABLE
** FOR AUTUMN
In their market report, Messi..
The following is the list of local S E. Levy and Company, corres share quotations issued toyday?pondents for Messrs. White Weld
and Company, New York, MEMBanks
HE Bant $1085-3, $10774 39. HF Bank (London) £124 n. Chartered Bank $141⁄2 n Mercantile Bank A. and
$31
Mercantile Bank C. 41371⁄2 n Bark of East Asia $81 I
Tnsurances
The London on New York cross- rate was quoted at £-US$4- 938, as compared with S-USUNA $4.94%, while, the New York on London cross-rate was quoted at £ US $4.95%, as compared with 5-US $4941⁄4
EXCHANGES
TO-DAY'S QUOTATION
Current Accounts opened and Fixed | Deposits received for one year or [shorter periods at rates which will be On Japan-
quoted on application.
Safe Deposit Boxes. (vazions “sizes) for hire
LOOK POONG SHAN,
Chief Manager
Canton Ins. $203.n. Union Ins. $365 b. Chima. Underwriters 40 cts. Du China Fire Ins: $382 n.. EK Fire Ins. $200 n. International Asste. $41.
Shipping
Douglases $36-1- H.K. Steamboats $4 n Indo-Chinas (Pref), $30 n Indo-Chines (Def), $12. 12 Shell (Bearer) $71/S - Union Waterbosts 2111⁄4 n.
Mixing
Antamoks 70-cts. D. Balatoes $15 n. -
B.
FINANCES OF AMERICA
Record Expenditure For Peace Time
LARGE INCREASE IN PUBLIC DEBT
Washington, To-day. For the last fiscal year the total receipts were $3,300,000,000, compared with a budget estimate of $3,712,000,000 The total e- "Stocks: The action of the mar-penditures reached a new peace ket to-day indicated a desire on time high figure of $7:376,000,000, be part of many holders of stocks including to withdraw on any strength, as gency spending, the results of the House of Repre
$3,655,000,000
emer
US. BANKING BILL
To Be Considered By The House
The gross public debt increased sentatives vote on the Holding from $27,053,000,000 to $28,701, Company Ball have apparently been000,000. Berter. well discounted. The decine in business for the Summer is also now more in evidence due to the confusing nature of recent dere- lopments at Washington Despite the toppy appearance of the mar ket, there is no evidence yet of any i large-scale liquidation of holdings and we continue to feel that the easiness of the Money Market and the favourable Fall outlook are likely to limit any reaction phases Business done 1,200,000 shares.
(Continued on Page 7)
Washington, To-day.
ADVER
SEMEN
PUBLIC AUCTIO
Tinstructions to sell by
#13-undersigned have red
O
Friday, the 5th July, 19 commencing at 230 pm at the Sales Room, No.
Hankow Road, Kowloon "A Quantity of VALUABLEHOUSEHOL
FURNITURE
One Pisno
adio
One Remington Portable
writer.
One Fine Tientsin. Garpet. One Fine Carved Black
Chests
Two Radio Sets.
and
Sale At & Pati One Armstrong Siddley Sester Tourer 149 HP Sno Miles to the gallon. In good
The Senate Banking Committee ning order. has approved the revised Banking On View from Thursday Bill, which now goes to the doom4th July 1935.
LAMMERT BROS Auctioneers.
of the House. Barber he fact Terms: Cash on Delivery, that the administration desired; some changes in the Bill was strongly indicated, following a con-
velt and some officials of the Trea-r
Board Reuter.
ference between President Roos. A
Benguet Consolidated $10 HALF-YEARLY CLAIMS and the Federal Reserve
Benguet Exploration 10 cts, 1.
Benguet Goldfield $10 m..
Gold Creek 30 cts. #
Gold River 5 ets. Ipo-Mining 90 cts.
On London
1
On TT. and demand
2/234
$11,000,000
Paid-up Capital
4 months' sight
2/2
8,635,000
Credits: 4 months' sight
2/34
32,170,492
Branches: Canton, Toishan, Shangha
On Shanghai...
Baguio Gold 22 cts. b.
London Bankers: Lloyds Bank, Ltd...
Foreign Exchange and Bankinge
On demand
137
business of every description trans-On Singapore- acted..
On demand
9394
Big Wedge 8 cts:
On demand
18534
On India
On T.T. and demand
144
On New York...
On demand
54
Credits.60 days sight
569
To Safercard Your Valuables and -Jewelleries.
On Batavia
On demand
78
1On Paris-
Venz; Goldfield $2.30 n
Docks, etc.
On demand
$15
i
Credits 4 months' sight
860
The
On Saigon-
HK and K Wharves. (new) $
On demand
8114
.JP
108
8434
33
HK. and W. Docks $66 2 Providents (old) 85 cts. n. Providents (new) 20 cts. nə Hong Kew Sh. $240 New Engineering Sh. $4 n S'hai Docks Sh. 990 n.
Cotton Milg
SAFETY FIRST!
Deposit them in a Vault
that is really.
FIRE - PROOF
BURGLAR-PROOF
DAMP - PROOF:
OUR SAFE DEPOSIT VAULT
14 located on the Mezzanine Floor of
Sana, Ex. Work Chus som 2-4 and Ba* **[0m New building is Specially Can- Po. Inc.
Rovenia
Fan Zone Pu. Eng., Chial Hansen, *
The Fore. Fat Souve
EDANCILES. AND AGLNŐTT
قشه مسي
Bombay
Bonciuiu
Peti
J'ann
Is-sping
PADERS
Cate Paphos Hunk
مدار
pokalapati
Yamaday smarshaya
tony Testerica
Kontak
Korinati Londan
Aun terrine
Ti. Timo Tokya Vancouver
Every deserigtime of: Banking and "Exebo business" mastri Lokas stated on approved
stracted to provide all of these Im portant Qualities.
On Manilana
On demand
On Bangkok-
On demand
You may obtain a Safe Deposit Sovereigns bank buying rate 2/37% Box in this most up-to-date Vault for your own use at a very moderate Ren-Bar silver per c
Bar silver in Hong Kong Copper cash Copper cents
Ital
Inspection Cordially Invited. THE NATIONAL COMMERCIAL
& SAVINGS BANK, LTD. "Corner of Ten Fonse Street and Des Voeux Road, Central
THE
Currens Brovante apened in Zone AMERICAN EXPRESS COMPANY,
and Fixed Degumite received, for one ment of! aborter periods in "Tonalne Formica Comencin
on terms wind wil be stated on application.
Salt: Deposit India To Im
THE CHINA & SOUTH SEA BANK,
LIMITED
(Incorporated in China)
Head Office.Shanghai
INC. *
Head Office; 6, Broadway, New York
Havan Hamberg Har
****ZO
Itogons 32% ets, nom. 4. Salacots 12 ets. n.
Kailan Mining Ad. 14/9 n. Langkats (Single) Sh. 14 = Shai Exploration Sh. $44 S'hal Loans Sh. $54. Raubs $5.90
ON GERMANY. Reichsbank Statement
Issued
IMPORTANT WAGE DAY ON -
EVE OF ANNOUNCEMENT
-CHINA MAIL" SPECIAL
The
BRITISH REVENUE UP ALL ROUND
Expenditure Slightly Higher Also
Hong Kong, 3rd July, 1925.
INCOME TAX FOR CHINA
NEW REGULATIO]
DRAFTED
Estimated Yield O
$5,000,000 A Year
Nankin
- The Ministry of Finance Tec
Berlin, To-day,
London, to-day. Reichsbank statement
Exchequer returns for the first ¡dated June 29 and published on
Tuesday reflects clearly the ex-quarter of the financial year show HK. and K. Wharves (old) $77ceptional claims made for meet-that ordinary revenue, exclusively decided to enforce income
in the county from the ing the half-yearly settlement of self-balancing items, amounts
fiscal year beginning from Jak the tension being increased by to £129,355,955, compared with
1935. The regulations govern the fact that the day before the £128,158,824 at the corresponding the enforcement of the tax.
drafted and forwarded to the Le Customs receipts are greater by ative Yum for revision and ad
tion.
Ewo Cottons Sh. $7 Shanghai Cottor (old) Sh.
65 IL
JOL
par
35% p2
32%
dis.
par
Shanghai Cotton (new) $40 ¤. Zoong Sings Sh. $85 n Wing On Textiles. Sh. $55 n Lands, Hotels, etc.
Rate of native interest Chinese Arb Coin_. Hong Kong sub. coin .....
THE MERCANTILE BANK OF
INDIA, LTD.
HEAD OFFICE:
15. Gracechurch Street, London, E
Authorised Capital ........£3,000,000 - Subscribed Capital
1.800.000 Paid-up Capital .............. 1,050,000 Reserve Fund & Rest.... 1,247,452 BANKERS:
The Bank of England & Miðland Book, Ltd BRANCHES:
Tandy
Sprachi
Kola Pharo
Kuala Lipis
Chirt Making
Capital Surpins Reserves
_T_S:$6,000,000.00 2,183,633.06
870,731.05
BRANCHES-
Armerdata
Katwerp
Adres
Cremos - Glamsha The Hague
Ama
Milan King Sapien Pirami Paris
Rangha
Bombay
Calcotin
Colombo
Deiki
$500,000.00
Berlin
Gate
$1,500,000.00 -
Bombay
Hong Kong Nowak.
Kadres
All Important Cities
Brusela
in China
Forsiga Exchange
and General
Banking
Bodden, transacted.
Menger
Cairo Calevita Cantre Colomie Copenhagen Dahila Ellsburgh Flortos Genera
Marseilles Horte Carlo
Manich
T'ambiz Tronning Tienda
Schobers Zurich
ૉ
HONG KONG BRASCH:
Capital
Réserve
Branches
Current wed Suving Accavala opened små. Fiord") Deposite meet for one year or shorter periods -32 "rates "why-is will be quoted on, application,
SOU Z. CHANG
21. De Foras Boud Crates),
(Kanagaʻa Ofis
Foreign Exching Dept.
Durice
·Cashier's ・ (moe
General
THE YOKOHAMA SPECIE BANK
LIMITED.
Established 1880
Heidelberg Interlaken
J Londoa Liverpack Lante
Montreux
Priping Palermo Botterȧum Rome Shanghai Southampton
Singapore
New York PRENDE
·Port Louis
("Iauritian)
Kuala Lumpur Singhai Fustan (Pahang) Sienia
Singapore
HONG KONG BEACH
Every description of: Banking and Exchange bariorus texoracted..
Travellers Cheques Immand..
Trustee and Executorships under- taker
INTEREST allowed on -Carent, Accounts sod Find Deposits", at Hates that may be ascertained: (as application..
1 RESVEDY.
Hong Kong, 1st April, 1935.
Branches of American Express. Company in Principal cities of United's Bond Central States of America and Canada.
All classes of Commercial Banking! Transactions undertaken.
Personal handed
investment
accounts
The Company offers to intending Travelers the use of its. “Izavellers Cheques" and Letters of Credit and, Capital (full paid-up) Yen 100,000,000 in addition, the world-wide services Reserve Fund ...Yen 125,300,000 of its thoroughly equipped Travel
~Head Office:-YOKOHAMA
Branches and Agencies at:
¿Batavia
Berlin
Bombay
Calcutta
Cantoa
Nagasaki Nagoya
New York Osaka
Paris
Peiping
Dazen (Dalny) Rangoon
Fengtien (Maiden) Rio de Jentiro
San Francisco
Hamburg
Hakow
Kerbin
Hong Kong
Honolulu
Semarang. anghals
Departme
E. W. DUGGAN,
Manage
THE WING ON BANK
LIMITED
Head Office: Houg Kang 26, Des Voeur Road Central: Authorised Capital: $18,000,000
LONDON BANKERS://
Westminster Bands-Ltd Foreign Exchange and every dis- cription of banking business transset
Cument Accounts and SevALE counts opened Fixed Deposits ceived at rates
THE
Хазирис
SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China)
Capital paid up
$5,000 Reserves
Capital Savings Dept $500,000: Beserve Savings Dept $600,000.
Head-Office Shanghai 200 A Bank having its mission the industrial; development of Chins and the fostering of her commercial relations abroad. Hong Kong Office
Post
7. Ice House St. Phose 31481-2-3.
Is It Insured?
statement was prepared was date of last year. an important wage day.
and
In the National budget for
Taking these two factors into £1,295,000 than a year ago consideration the Reichsbank's compared with an estimated
in demand were crease of $5.474,000 for the whole 24th fiscal year, the Ministry TEBOUTTES not more than at the same-time last year.
year.
Excise shows an increase of The entire value of the legal £1,700,000, compared with an eat tender in circulation aggregated mated increase for the whole year 5,384 millions against 5,910 mi- of £1,750,000.
The total ordinary expenditure. lions last month and 5,781 mil lions a
year ago. The gold exclusive of self-balancing Items stock increased by 09 to 85.6 for the current year to date, is
Finance bus already included
new Item, income tax,” which; is estimated, will yield an að tional income of $5,000,000 to national revenue.
Previsions Outlined
The draft regulations, which ha already been passed by the Ce
HE. 2nd S. Hotels 4 b. and million Reichsmarks. The foreign £185.570,728, against £177,876,697ral Political Council consist
carrency reserves were unchang at the corresponding date of 1934 he following provisions
53.
H.K. Lands $35 nom.
HK Lands 4% Debentures
100% L
Shanghai Lands Sh. $201⁄2 1. Metropolitan Lands Sh. $10 n. Humphreys $87% "1. HK Realties $4 n. Chinese Estates $90 m- China Realties Sh. $4 1. China Debentures $123 a
Public Utilities
ed at 40 millions, making a total increase of 0.9 to 89.5 million Reichsmarks.
British Wireless Service
The note issue increased 3930 BERLIN STOCK
millions to 3,895-2 million Reichs- marics:
The total amount of credit Ja-] sued, as measured by bills, cher ques, advances and investments, was augmented by 589.2 to 4- 682.2 million Reichsmarks.
HK. Tramways $18 b. $1830 Trans-Ocean Service,
12.
Peak Trams (old) $7%1⁄2 n. Peak Trams (new) $5. Star Ferries $77 L. -
Yaumati Ferries $17, n.
C. Lights $8.90 p
HOURS OF WORK IN COAL MINES
MARKET
Small Volume Of Business
**CHINA MAIL * SPECIAL
(3) The income tax is a nation
(2) No surtazes szall be levie with the income tax.
(3) The income ficti levied first on the following classes:
Class I: (a) The income
porations, commert Hixhments, business warehouses, and with a capital
(b) the incomes of Tess ex
sional nature.
A Perlin, to-day. Again the share market mono- polised all the interest investors had to display, but this did not Class II The incon result in business of great volume: Prices, however, kept fr, some standard shares, advancing appre. ciably.
International Pact To Fixed interest securities
Be Ratified
London, to-day- In answer to a question in the House of Commons yesterday the Minister of Labour, Mr. Ernest
EK Electrics $3771⁄2 by Macao Mechins $27/1⁄2 2. Sandakan Light 5374 a.– Telephones(old) $20.90 b
$2110 sa Telephones (new) $8.20 n. China Buses Sh. $1131⁄2 n Singapore Traction 10/6 b Singapore Fref. 22/5 b.-
Industrials Malabon Sugar 331⁄2 =
the revision of the hours of work] Cald: Macg (Ord), Sh. $1934 in the coal mines convention at the last International Labour Con-
were
erratic, the price changes so far as they occurred being mostly down- warda
Call money was at 2 to 3 per cent. Trans-Ocean; Service.
From
of wor
allowance
sion, and
public ser occupations
derived pensation
those in other
Some Exemptions
(4) The conditions under which
a person is exempted from the ins come tax shall be emmeratel separately
Brown, announced that, following TEA RESTRICTION The income tax shall de
Cald: Marg (Pre£), Sh $13 ¤ ference, the Government, was pre- Carton Ices 180 1-
to ratify the
reement multaneously, with the other six
Cements $58 HK Ropes $21.
Stores, etc. Dairy Farms $141⁄2 b Watson $3.10 b. Lane, Crawfords $240 3. Mackintosh. $72-
Sinceres 37 m
W Powells 70 cts n Wing On (HK) $100 2
Wire
Service
RAW RUBBER PRICES
Latest Quotations From
Singapo
SCHEME
Government Action Unnecessary
MARKET RISING STEADILY
levied on the basis of a progr
| sive ratio.
(6) The
thod
för ascert income
@rocedur
PEICHSMA
OTATIONS