THE CHINA MAIL THURSDAY,
BANKS
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
HONG KONG AND SHANGHAIR ***BANKING CORPORATION: Authorised Capita? L. .......... $50,000,000 Ismand and Fully Paid-up 20,000,000 Incorporated by Royal Charter, 1853. Reserve Fundez-
Sterling Silver
-- † 6,500,000 $0.000.000
Reserve Liability of Pro-
prietors
HEAD OFFICES LONDON
Paid-up Capital · 20,000,000 Reserve Fund
000,000 £3,000,000
HEAD OFFICE HONG KONG.
Reserve Liability of Pro-
prietors.
Alertur
Acriber
Chart
Eat.
Imagok
Agencies and Branches:
Sangom
Saigon
Forlo 1pois Kanchi
Samamag Storets Pag
Datavia Bombay
Kobe
Shanghai
1 Chicas Canton
Lumpar Luehing Madres
Singapore Siti
Sqarabağa Taiping
Tomekaa
Yow Yuck
Peti
(Plug)
BOARD OF DIRECTORS,
Ha Dadweil, Eme.
cc Xxitle Em
Dejaury Chairmath,
"W. H. Bell, Esq. K. S. Morrison Ets Campore
A. H. Compton Esq.
M. T. Johnson, Esq. Colabo
D Hoa M J. J. Paterson, *Haiphong G. Miskin; Esq. T. E. Pearce, Est, bu
LONDON
KANGROS
BATAVIA
BRANCHEN:
LTORS
MALACTA
<
MAR Joborri
BOUBAT
CALCUTTA
CANTOS CHEPOU COLOMBO
MANILA
MUKDEN
NEW YORK
PEIPING
DAIRES
FXCHOW
HAIPHONG
MAMNERG HANKOW HARBIS
HONGREW
TLOILO
1 TOH
FORE
KOSLOON
PENANG
RANGOON
SUGON
SAN FRANCISCO
KUALA LUMPUR
SHANGHAI
SINGAPORE
SOURABAYA
SENGER PATANI
TIENTSIN
TOKYO
TSINGTAO TOEDHANA
Tastest loonunte opened in Loral Currency and Fixed Deposita encerad few on war w atroses periode in Toral Commsey and Sterling mute which will be qused on application
Hong Kong, 6th April 1936"
HONG KONG SAVINGS BANK
The Boning of the show Buns in conduct
BANKING CORPORATION Bales 'my, by
un «ybisonti
THE HONG KONG AND SHANGHAI BANKING CORPORATION
GRAYBEIN,
Chart Manager:
Hankor
· Harbin
} Bong Kong'
Testing
(B) Tincto Tokohama Tambong
ommerce and Finance
LOCAL DOLLAR DECLINES
Silver Prices Steady
The local dollar has declined farthing, opening on demand this morning at 2/1
Spot and forward silver prices steady at 30-3/16 and (30-5/16, respectively d
were
The London on New York cross-} rate was quoted at £ US$£95%. as compared with £--US$4.95%, while the New York on Lon-
Form Exchanges and General Banking buzdan cross-cate was unchanged at
1 besteed
Cat Accemats opened and Fixed Depor £US$49634- mind for aan ze w uberter periods, at rates;
which will be quoted on spotication.
A. BREARLEY,
· Manager.
Hong Kong, 1st January, 1935.
THE BANK OF CANTON, LTD.
Established 1912.
Read Offices-Hong Kong.
Authorised Capital
Paid-up Capital
EXCHANGES
TO-DAY'S QUOTATION
On London
On TT. and demand
$11,000,000
8,555,000 32,170,492 On Shanghai→→
2/1
2/1%
4 months' sight Credits 4 months' sight.. 2/234.
On demandi On Singapore-- On destand
Total ResouICES AT A Branches: Canton. Toishan, Shanghai Hankow, Bangkok & San Francisco. London Bankers: Lloyds Bank, Ltd.
Foreign Exchange and Banking business of every description trans-On Japan- acted.
Current Accounts opened and Fixed Deposits received for one year or shorter periods at zates which will be quoted on application.
Safe Deposit Boxes (various sizes) for hire.
LOOK POONG SHẲN,
Chief Manage
On India-
SHARE MARKET
TO-DAY'S QUOTATIONS
The following is the list of local share quotations issued to day:
Banks
HK. Bast $1020 b., $1020/30 s
B.F. Bank (London)
Chartered Bant $13% 1. Mercantile Bank A. and
Mercantile Bank C. 5134 1 Bank of East Asia 6 n.
Frissteences
Canton ins. 5203 1.
FRENCH ECONOMY AD
PROGRAMME
LAVAL'S PROPOSALS ARE ACCEPTED CALMLY
NEW MEASURES
AS
RECOGNISED
VITALLY NECESSARY
“CHINA MATE” SPECIAL
Paris To-day.
} PUBLIC WORKS DEPARTMENT:
ΤΟ
NOS. 195-It is hereby noth
fed that sealed tenders in triplicate, which should be clearly for Kowloon marked "Tender Quarry No. 2** will be received at the Colonial Secretary's Office
M. Laral's proposals for financial retrenchment and the re- until Noon of Monday, the 22rd storation of budget equilibrium were accepted by the Cabinet July, 1955; for the occupation for B. Council early yesterday morning
Union Ins $370_n. China Tinderwriters 40 cts. s China Fire Ins. 3382 nie HK Fire Iris: $200 BAS International Assce, $4 n.
Shipping
Douglases $36 1.
H.K. Steamboats $4 Indo-Chinas (Pref.), $30 al Indo-Chinas (Def), $12 mi Shell (Bearer) $71/3--- Union: Waterboats $151⁄4 Dr.
| Mining Antamoks 72 cis. De
Benguet Consolidated $1234 Benguet Exploration 10 ets. b.
Benguet Goldfield 10 cts. n.
132
Balatoes $18.
69
Baguio Gold 23 cts.
On demand
177
On T.T. and demand
1377%
Big Wedge & cts.
On New York.
Gold Creek 30 cts. n.
On demand
51%
Gold River 5 ets. n-
Credits 60 days” sight
534
Ipo Mining 90 cts. 11.
On Batavia
Itogons 36 ets. I
On demand
75%
Salacots 12 cts. n.
On Paris-
On demand
780
Kailan Mining Ad. 14/6 n. Langkats (Single) Sh. $14 m.
Credits 4 months" sight
$25
On Saigon
On demand
773
S'hai Exploration Sh. $43% au S'hai Loans Sh. $544 m. Raubs, $6.10 h.
Ca Manila-
On demand
-1034
Venz, Goldfield $230 =
Docks, etc.
On Bangkok
BOARD OF DIRECTORS:-
On demand
$9
HK and K Wharves
$7434
Die Sheena Chow, ChunZILA,
Lé Koon Cines. Fa. I. Kask Fay Wag
Beeg Bang ch Filmory, 1000
THE BANK OF EAST ASIA, LTD.
Anbarian Capital”..... Part-op Capital
Bewerted Codivided Pročita
$70,000.000.0 --$ 5,308,000,00
CE-HONG KONG
TEAD OFFICE
D. De Terus Bond Central.
420,000.00
SAFETY FIRST !
To Safeguard Your Valuables and Jewelleries.
Deposit them in a Vault
that is really: FIRE-PROOF
BURGLAR-PROOF
- DAMP-PROOF!
OUR SAFE DEPOSIT VAULT
located on the Mezzanine Floor of Sovereigns bank buying rate 2/17k
Yus. Tong, Chen Ching Shek, Eng Is Our New building is Specially Con- Bar silver per oz.
Sans. Ext Koor Cha Son. Frg and San Ystracted to provide all of these-La-Bar silver in Hong Kong
Ta Eng
A
Kan Zong Pn. Eng, Chief Manager.
La Fog. Eq.. KaspT. **
ANOT Batavia Beniny Calcutta Canoa
Haiphong Hankow
Honolul
BRANCHES AND AGENCIES:-
Lovorila MeSour
New York
Onedin Prin
Sepang
Seatin
Servatraz Shangha Singapore Sourabaya Swatche
Lydory Twiboku Teutain
Kole Kims London
Lemon
Tokyo
Fun Frucimens
Vancouver Yokohama
Every dription of Busking and Exchange Damit trainmeted. Lesam, granted, on approved scurities....:
Curreal Accounts opened in Inreal CarTATRY sad Fized, Deposits received for one year or whorter peroxy in Loral and Foreign Currences na terena whirl will be quoted, on "application.
Safe Deposit Boxes To Lete
EAN TONG PO
THE CHINA & SOUTH SEA BANK, LIMITED
(Incorporated in China)
Head Office...Shanghai
$7,500,000.00
Capital
Reserve
portant Qualities.
Copper cash
You may obtain a Safe Deposit Box in this most up-to-date Vault for Copper cents
your-own use at a very moderate Ren-Rate of native interest tal.
Chinese-Sub Coin Hong Kong sub, coin
Inspection Cordially Invited.
THE NATIONAL COMMERCIAL
& SAVINGS BANK, LTD.
Corner of lee House Street and Des Voeux Road, Central
THE
AMERICAN EXPRESS COMPANY,
INC.
Head Office:-65, Broadway, New York
Herre-
30-3/16
nom.
пот.
Far
3% ps 327% dis
Daze
NEW YORK STOCK EXCHANGE Latest Quotations
July 18
The following onotations were re- ceived by Reuter:-
Sept
Last:
11.00 slove 10.30 496% 496 4963
HK and K Wharves
$7734
a period of two years commenc
The new economy programme embraces 28 decrees intending from the date of notification ed to effect savings totalling approximately 11:000,000,000 of acceptance of tender, of the francs, which are distributed as follows: State budget. 7,063-piece or parcel of ground as 000,000; amortisation department. 195.000.000; communal hud- shown coloured red on a plan signed by the Director of Public gets. 1.385,000,000; railways, 2316000,000.
The new economy measures, which provide for retrench-Works and dated 28th June, 1935, ment by the State, municipalities, colonies, heensed companies and subject to the conditions and public services, however, will not affect the expenditures which can be ascertained at the office of the Director of Public on the public welfare Trans-Ocemr Service:
Works.
later message from Paris states that though it was hard-
ly to be expected that the new emergency decrees which im pose heavy sacrifices on a
Upset annual fes $2,000.
Each tender must be accom
TAX ON SILVER panied by a receipt to the effect TRANSACTIONS re Colonial Treasury a sum of
MCCARRAN BILL FAVOURED
SENATE COMMITTEE REPORT
that the tenderer has deposited
$250 as a pledge of the bona Aden of his offer, which sum shall be forfeited to the Crown, in the event of the tenderer, whose tens der accepted refusing to carry out the terms and conditions of jhis tender.
classes of the population, would. ibe greeted with enthusiasm. they did not aronse as much hostility as feared on publica- tion yesterday, being accepted on the whole with calm..
to be It appears in fact,
Washington, Tonday- gradually recognised that these
On the acceptance of a tender The Agricultural Committee the deposits of insuccessful ten- measures are necessary in order to reorganise the public finance and of the Senate has reported faderers will be returned to them. the reconstruction of industry.vourably on the McCarran Bill Form of tender and further The reaction of the Faris Bourse repealing the 50 per cent tax
was friendly, reates showing a on silver transactions Reuter particulars can be obtained frum A message received yesterday the office of the Director of Public considerable rise.
LAVAL'S SPEECH
stated that Senator Patrick a Works
The Government does not bind In his speech over all French McCarran (D., Reno) had intro-
itself to accept the highest or any stations last evening M. Laval em duced a bill repealing the 50 pez
Itender. phasised that the retrenchment cent tax on silver transactions. measures will be applied At Mr. McCarran's request the diately to the fullest possible ex-bill had been referred to the ¡tent and will be accompanied by Agricultural Committee of the
energetic steps for the revival of Senate. trade"
The Government had had to
(new) choose between devaluation of the
franc and taking all possible mea- (old) gures for its maintenance, declared the Fremier, adding that the sacrifices affected all citizens in atumlar degree and would be auto- matically reduced should the s "tuation improve.
Trans Ocean Service.
HK. and W. Docks $64. Providents (old) 85 ctx. c. Providents (new)-20 ets. D. Hong New ShA$240 AN New Engineering Sh. $1 Shaf Docks Shi $80 mi
Cotton Mills
Ewe Cottons Sh$7 n Shanghai Cotton
$65 D.
Yald) Sh
Shanghai Cotton (new) 140 n. Zoong Sings Sh. $0
T
Wing On Textiles, Sh.$28. a Lands, Hotels, etc.
HK, and S. Hotels $3.80 b., $3.90
B
HK Lands $34 n.
HK. Lands 4% Debentures
100% -Shanghai Lands Sh. $201⁄2 m
REICHSBANK RETURN
(Continued von Fuge:7)
GERMAN CREDITS TO SOVIET
Rumours Stoutly Denied
"CHINA_MAIL*
RAM. HENDERSON, Director of Public Works.
5th July, 1935.
PRICE FIXING
PROVISIONS
STRUCK OUT
SETBACK TO US. ADMINISTRATION
CLOSE VOLZIN SENATE
Berlin, To-day. The report published in
Washington, To-day. section of the foreign press, to German that the the effect
Reversing Tuesday's stand Government had recently offered the Senate voted by 44 votes to the Soviet Government a loan of 41 to strike out the price fixing 1,000,000,000 marks without se provisions of the Agricul curity in order to increase Ger-tural Adjustment Administra- man exports to Russia, in ex-tion Amendments Bill The change for Russian raw mater vote is regarded as a setback to fials, was semi-officially denied the administration forces, who The Reichsbank return dated yesterday as lacking any founda- insisted on the retention of the price-fixing as a vital part of July 15, issued yesterday, retion whatever.
It is stressed that apart from the bill veals a remarkable increase in
Remarkable Increase In Gold Stock
~CHINA MÁIL” SPECIAL
Berlin, To-day.
Metropolitan Lands Sh. $10 n. Reichsmarks to 939
the gold stock by 81 million, the German-Russian agreement The final Senate vote on the en- millions, of April 9 last, the granting of tire bill was possibly to have been the highest gold holding for a further German credits to the taken last night Reuter considerable time past
Soviet Union has never been dis- A message received yesterday This südder access of gold is cussed and it goes without say-said that the US. Circuit Court of not the result of acquisition from ing that no offer of this kind Appeals at Boston, by a vote of 2
made Trans-Oce
China Debentures Sh.$123 z. current commercial business, but is has been
Chief Hanger,
Capital Surplus
Reserves
„US$6,000,000.00 2,183,633.06 870.231.05
NY/London NY, Cotton
Oct. NY. Rubber
Dec
1157 1161 11.58
12.36 72.42 12.4L
Humphreys $87 11
Azmierdam
Anterp
BRANCHES:—~
Ge.com Glasg
84%
HK. Pealties $4 n.
Milan
85%
Chinese Estates $88 n
Dec
Athens
The Hague -
Ravana
Barle
mburg
Piranti Paris
C. Corn Sept. 76
76%
China Realties Shii z
Dec.
64
$42
Berlin
Priping
Bunky
Heidelberg
Fairmo
STOCKS
$1,500,000.00
Баншеть
· Toteriakan
Rotterda
Amer Smelting 43 4334
434
Public Utilities
All Important Cities
Jeremicn
Con Gas N.. 24.
25%
HK Tramways $13. B.
in China
Calzo
Elec Bond &
Calita
Exchange
Share
8%
General Motors 361⁄2 36%
35%
Lapor
Monte Carlo
Hanlin
VIERDE Tendea Tokohama
Int Tel & Tel: 9%
9
Loew's Inc
41
42
C. Light $8
Montgomery
Ward
294 29%
17
Branches
Tordica
Binanced.
and General Banking
Carseat and Saving Accemats opened and Fized Deposite servited for aur your or shorter perioda :
at which will be quiet on explication.
Z CHANG.
HONG KONG BRANCH:
Manager.
N. Des Voeux Boud, Central,
Lineager's Office -
Foreign Exchange Dept.
·Cashier's Ove
26500
THE YOKOHAMA SPECIE BANK
LIMITED.
· Established 188A.
Caunes Colombo Copenhagen Dublin Edtioburg's Parancs
Lowdor. ZáverpoolTM
Rome shanghai
Southampton
Singapore *Tienta
Turpina
Munich
Morrent
NY. Central
U.S." Steel
Branches of American Express) Standard Off Company in Principal cities of United States of America, and Canada.
All classes of Commercial Banking: Transactions madertaken.
Personal handled.
izvestment
The Company offers to intending Travellers the use of thi"""Travelers Cheques" and Letters of Credit and, Capital (full paid-up) Yezz 100,000,000, in addition, the world-wide services Reserve Fund Ten 125,800,000 of its thoroughly equipped, Travel
Head Ofaces—YOKOHAMA
Branches and Agencies.xt:
Alexandzis
Batavia
Berlin Bombay
Calcutta.
Canton
Dairen (Dalby)
New York
Peiping
Fengtien (Maricden) e Hambur Bankow
Department
EW. DUGGAN,
THE WING ON BANK
SIMITTED
Head Office: Hong Kong- 25 Des Voeux Band Central Authorised Capital $10,000,000
STON
ster: Bend
THE
37%
SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China)
Capital paid up
Reserves
Capital Savings. Dept. Reserve Savings
A Bank having
the industrial:
Cuina and the Decommercial relation Hong Kong Dolce
Phone: 21657
Is It Insured?
Peak Trams (old) $131⁄2_n.
Peak Trams (new) $F3⁄41⁄2 1 Star Ferries $76, bu Yaumati Ferries $17 1-
1.
b2
EK Hectic 59 n. Hacão Electrics "$2251⁄2 1. Sandakan Light $34 2. Telephones (old) $21 Telephones (new) $8.20 n China Bases Sh. $114 1 Singapore Traction 10/6 h Singapore Pref. 22/5 d. Industrialas
Malabon Sugar 81⁄2 1
Call: Macer (Ord.), Shr. $1945
Cald: Marg (Pret)
Canton Tees $120, “Cements $5
HK. Bopes 12 B
Dairy
Wapsen
(6:10
the outcome of a special transac Service tion with Soviet Russia, which pays for deliveries of German in- dustrial products by depositing gold against Beichsmarks,
The reserves of foreign cur- encies also increased by 24 to Reichsmarks, augment- the same source, part of
ceived from Russiacher changed for foreign The total increase: în ver was thos 12.5 to on Reichsmarks
the gold îng:
the
RAW RUBBER PRICES
Latest!
BERLIN SHARE
MARKET Uncertam Trend Reported
The rising
MAR SPEC
Ito 1 had ruled that the Agrien
taral Adjustment Administration processing taxes were unconstitu» tional the ruling being given in the case of the Hoosac Milk Cor- poration, New Bedford, which had been aning to recover some $82,000. worth of cotton processing taxes.
TEST CASES
The case, which was chosen as test case for the constitutionality of the AAA would be appealed against by the Government in the Supreme Court in the Autumn
(Continued on Page 7)
NEW YORK STOCK MARKET
Market Interest Broadening
*CONSIDERABLE RESISTANCE
SIRL EVIDENT-