BANKS
HONG KONG AND SHANGHAI **BANKING CORPORATION
Authorised Capital
$50,000,000
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
bound and Faily Paid-up 20,000,000: Incorporated by Royal Charter, 1853 Reserve Fundes
Sterling 6,500,000 silver ... 30,000,000 Reserve Liability of Pro-
prietors
HEAD OFFICE: LONDON
Paid-up Capital 20,000,000 Reserve Fund
£3,000,00J 53,000,000
Reserve Liability of Pro-
prietors
£3,000,000
Agencies and Branches:
Alor Sta
Iloilo
Amritime
Įpok
1
Kamchi
+ Babaria
HEAD OFFICE HUNG DUNG
·BOARD OF DIRECTORS,
- Dostwil Eng.
Gitman
CC night, Eng. Deputy Chirat.
TS Graburn Eng
Chief aanger
Borabay
Calencia
Canton
W. K. Bell, Esq., K. S. Morrison Esq, Caeripare AHL Compton Esq."
T. Johnson, Esq. Hoa." Mr. J. J. Paterson, G. Miskin. Exq I E. Pearce, Esq,amburg
Klang
Bangoon Saigon Bemarang "Serenaban Shanghai
ngapore Sitiaran Soursbers Taiping
Tienda
Tangkah
(Baker)
Baba
Tumpur Luckipe
Cobu
Mad
Colombo
Haiphoo
Hankow
Stabila
Kedat New York
Priping
(Peking)
- Tangtao
Yokohama
Harbin
1
RECHTLE
Zambonogs
| kramacted.
BOMBAY
MASTEA
→
CALCUTTA
MTA 1Zohore)
MUKDEN
CANTON
CHEFOO
NEW YORK
ΑΜΟΣ
BASOROK
MATANZA
COLOSIRO
DAIREX
"YOOCHOW
FAMONG
.KAMBURG
HANKOW HARBIN
HONGREW
TLOWLA
ЕРОЯ
MHORE
KORE
KUTLOOK
MANCHES
LONDON
LYONS
• HALACCA
PEIPING
PEXANG
RANGOON
SAIGON
SAN FRANCISCO
KUALA LUMPUR
SHANGHAI
SINGAPORE
SOCRABAYA
SUNGEL TÁTANT TIENTSIN
TUHETT
TSINGTAO YOZOTTAMA
"Commit_Aregunta, opened in Irved Comence
and Fixed Deposit Moted for O OF shorter petion in Loral Comacy and Sterling
an segein which will be quoted on appilation.
Hong Kong, 6th April, 1935.
HONG KONG SAVINGS BANK
The Brew of the above Duck in conduct
By the HONG KONG AND NILANGHAI BANKING CORPORATION. Koles may bu. thened on suplication.
FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.
M. GRAYBUEN
Chief Stanager..
Un us is Frbroery. I
THE BANK OF EAST ASIA, LTD.
Authorized Capita
Puidup Capital
Berve and Undaunted Profit,199,000.0
BEAD OFFICE:- BOM KONG-
10. Dens Road Central.
BOARD OF DIRECTORS:-
Show Chow, Chairman,
Li Koo Chull, Et P. Kven, Taj Tong Two Tong. End Chan Chang The Eng A Lan Sang. Fin Wong The Son. Erg, and Kas Ying
Pe. Event
Kan Tove To Ung, Chiel Maurer. If I now. Faq more.
BRANCHES AND AGENCIES :-
Calcutta
Canton Kaijisema. Hankow
St
Southe
Ammay
*K-Limmirag
Hombay
Kew York
Purin
Shanglan
Naraya
sydney
13 anot
Pr
Thou
Viestein Tekra
Ma Francisco
Kole Ko-imon Laudon
Vancouver Jokohama
Luary difcription of Beaking the Exchweige
THE CHINA MAIL WEDNESDAY, JULY 24, 1935
Commerce and
Finance
LOCAL DOLLAR STEADY
Silver Prices Firm
The local dollar is steady, open- ing on demand this morning at 12/14.
Spot and forward silver prices were also steady at 30-3/16 andj 30-5/16, respectively.
The London on New York cross- rate was uncharged at £--US$4- 96%, while the New York on Lon- don cross-rate was also unchang-
Foreign Excontigs and Greases) Buzzing "busmered at £—US$4964-
Correa Account opened and Fond Depow severed for new year or shorter perioda uz zwan which will be quoted on saplicataen.
A. BREARLEY,
Manager.
Hong Kong, 1st January, 1935.
THE BANK OF CANTON, LTD.
Established 1912.
Head Ofice-Hong Kong. -
Authorised Capital.
Paid-up Capital
Total Resources.
EXCHANGES
TO-DAY'S QUOTATION
On London-
On T.T. and demand
4 months sight
On Shanghai-
2/1 2/1%
Credits & months' sight.. 2/24.
On demand $11,000,000
8,655,060 On Singapore--- 32,170,492 On demand
Branches: Canton. Toishan, Shanghai | On Japan—'
Bankow, Bangkok & San Francisco.
London Bankers: Lloyds Bank, Ltd
Foreign Exchange and Banking On India business of every description trans- scted.
Current Accounts opened and Fired Deposits received for one year or shorter periods at rates which will be quoted on application.
1 Safe Deposit Boxes (various sizes)
for hire
LOOK
ONG SEAN,
LOCAL SHARES
TO-DAY'S QUOTATIONS
A.A.A. AMENDMENT
BILL PASSED BY
SENATE IN U.S. Extensive Changes Incorporated
MEASURE TO GO TO CONFERENCE
NEW YORK STOCK MARKET Buying On Weakness
Advised
WHEAT CROP SITUATION
· HEALTHY
NEW ADVERTISEMENTS
NOTICE
UHE Undersigned hereby gives
T Notice that he will not be
responsible for any debts or liabi- lities whatsoever incurred by his wife, Mrs. P. O'NEILL, and that In their market rebort, Messrs she has no authority to pledge SE Levy and Company, corres his credit or to act as his agent. Washington, To-day. pondents for Messrs. White Weld
P. J. O'NEILL. After a fortnight of furious and Company, New York, state-
24th July, 1935 . debate the Senate. by a vote of
"Stocks: We do not believe that 65 to 15. finally passed the Agricultural: Adjustment Ad-the late irregularity witnessed to- H.K. Bank (London) £109ministration Amendments Bill day will develop into a major res
The following is the list of local} share quotations issued to-day:
Banka
FK Bank $1050 b.
ez dr. Chartered Bank 35 Mercantile Bank A. and
$313 X
Mercantile Bank C £13. Bank of East Asia $7514 n.
:
Insurances
Canton Ins. $203 n." Union Ins $970 1.
China Underwriters 10 cts. I. China Fire Ins. $992 ». HK Fire Ins. $200 m
- International Assee. $4 T
Shipping
Douglases $36 »
H.K. Steamboats, & - Indo-Chinas (Pref.), $30 1. Indo-Chines (Def), $12 m2 Shell (Bearer) $71/3 n. Union Waterboats $111⁄4 0.
Mining
Antamoks 71 eta. m.
Balatoes $18 ».
carrying a limited ban against tion. We would advise baring on suits to recover processing taxes weakness. Business done: 1730.- Band a provision intended to 1000 shares.
validate the existing crup con-i
Baguio Gold 22 cts. sa Benguet Consolidated $121 1 Benguet Exploration 12 eta 11: Benguet Goldfield 10 cts n. Big Wedge 8 cts. 2- Gold Creek 30 ets. n.
Gold River 5 cts. -
+)
NO DEPRECIATION OF LIRA
"TEMPORARY”
"Wheat: The decline in MinneaŁAW. SUSPENSION trol contracts, while the propolis was a local affair. The crop posed price-fixing provisions situation is considered as healing and we would purchase оп Any were eliminated.
Total sales: view to major setbacks. Introduced with, a broadening the powers of the farm Wheat: $1,297,000 bushels. Corn: administration and to protect it 5137,000 bushels
(Continued on Page 7)
Do
against the mounting court. at- tacks, the bill was changed in Way many respects and in granted the, sweeping powers re- quested by Mr. Henry A. Wallace, Secretary for Agriculture, thas constituting a compromise necesaï- tated by the increasingly critical attitude of the Senate toyards all measures of which the constitu- tionality is doubtful in the light of the recent court decision.
Critics of the Administration's foreign trade policy vainly tried to curtail the President's tariff bar gaining powers by offering a re trictive rider, which, however, was twmed down.
NEW YORK STOCK EXCHANGE
Latest Quotations
July 24.
GOLD RESERVE TO BE REPLACED SHORTLY
Rome, To-day. Official circles explain that the temporary suspension of the law | concerning the gold coverage does not mean the depreciation of the lirs The Italian Government intends replacing the gold reserve as soon as possible.
The controlling board of the Institute for Foreign Credit and
The following quotations were re-the Bureau for Commercial Ex- ceived by Reuters
-
Last close
10.20
changes will. it is stated, through
a quota system permit the Gov- 11.00ernment promptly to defend the
Bira if it is attacked-Reuter
London 496 496% 4.95 NY. Cotton
Ocia
May NY. "Pabber
Doc
C. Wheat
Sept Dee..
11.51 11.48 ILSI 11.36 17.99 1133
12.24: 12.188 12.23
#54
86
The bill will now go to confer- ence with the House of Represen- tatives with a view to adjusting the {differences with the House ver. Com Sep. 74%
Doe. sion-Renter.
134
90%
On demand
1784
On T.T. and demand
1394
On New York-
On demand
52
Credits 60 days” sight
5434
On Batavi
|
On demand
76%
On Paris
Chief Manager
'On demand
T&The
Ipo Mining 90 ets. n. ~
75%
Crédits 4 months' sight
83214
Itogons 36 cis-n
62%
On Saigon
Salacots 12 cts. .
STOCKS:
On demand
7814
Amer Smelting 42%
Con Gas M.Y. 24%
247%
On Manila-
104年
S'hai Exploration Sh. $44 12 Shai Loans Sh. $5 -
OF GUILDER
Elec Bond &
Share
好
*
8
8
General Motors 37%
88%
Ranbe $727b,
Int Tel & Tel 9%
4144
*414
30 30% 30%
18 - 1834
18
Standard OI
NJ
48
46
46
47
41
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 Our New buildings Specially Con structed to provide all of these In portant Qualities.
You may obtain a Safe Deposit Box in this most up-to-date Vault for your own use at a very moderate. Ren- tal.
Inspection Cordially Invited. THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Street and Des Voeux Road, Central
THE
for transacted. Inson sused on approved AMERICAN EXPRESS COMPANY,
wszorítima,
Carrens ecoute opened in Lowen't. Cuppatung and Fred Deposit resend for are year of wheter periods in Local and Forsign Curvades
on treten which will be quoted: “on applicatio
Sale Deponit Doser To Lele
KAN TONG PO.
INC.
Head Office:-65, Broadway,
New York
Chief Menget.
**
Capital
Sampins Reserves
THE CHINA & SOUTH SEA BANK,
LIMITED
[Incorporated in China)
Head Office ...Shanghai
Branches ...All Important Cities.
Capital
Reserve
$7,500,000.00
$1,500,000.00
in China
Toreign
Exchange and
General
Banibena sanaarted.
.U.S.$6,000,000.00
Harana Huwburg
2,183,633.06
870,731.05
Miles
Kaplos
Pariz
Priping Palermo Botterda Bom Shanghai Southampton
BRANCHES:-
Amadam Antwerp.
Cremon Grinagar
Athem
The Harue
Amand
Berlin
Bombay Bremness. Brussels
Banking
Cairo Calcutta Cannes Coinbo
inspare
Tintain
Copenhagen
Torti
Marseilles
Vienos
Edinburgh Florence GENOTE
Monte Cacho
Tenics
Manila
Morich
Tokubaus Zurich
"SOU Z CHANG,
Manager:
HONG KONG BRANCH:
Current and Saving Accounts opened and Fixed Deponita promised for one year or shorter perioda ↑ Buildin at rates which will be qued on application
2. Des Toruz Boed, Central,
Manager's Of
Foreign Exchange Dept Cars,
General Son
Cashier's Office
23366
Heidelberst Interlakens kerlem Londine L'erpool Laser Labo
Montreux
Branches of American Express Company in Principal cities of United States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
THE YOKOHAMA SPECIE BANK Personsi investment
LIMITED.
Established 1880-
bandled
On demand
On Bangkok-
Sovereigas bank buying rate 2/2
On demand
Bar silver per ***
Bar silver in Hong Kong Copper cash Capper cents
Rate of native interest Chinese Sub Coin Hong Kong sub. coin
30-3/16
Dom
nom. par.
324
3% pa dis.
par.
BRITISH TREASURY RETURNS
Slight Decrease In Revenue
London, To-day.
show that
Exchequer returns
the total ordinary revenue date, including self-balancing £168,713,456, items, amounts to compared with £170,439,034 the corresponding date of
years
• Total ordinary expenditure, exclusive of self-balancing items. is £225,746,765, against · £218- 498,733 at the corresponding date of 1934-British Wireless Ser- vice.
+}
Kailan-Mining Ad. 14/- n.
Langkats (Single) Sh $14 DEVALUATION
Venz: Goldfeld $2.30 .
Docks, etc.
H.K. and K. Wharves (old)
$76 b.
HF and K. Wharves (new) ** $741⁄2 1.
INEVITABLE Loew's Inc
(Continued from Page 1)
Montgomery
Ward
INT. Central
A divergence of views was ex- pressed by succeeding speakers US Steel Reuter.
SUPPORT WITHDRAWN
•
A later message states that the
40%
*6
***
56_
state of the Government became COMMODITY PRICES
doubtful when Dr. Aalberse, leader!
HK. and W. Docios $620. Providents. (old) -85 cts. n. Providents (new) 20 cts. n- Hong Kew Sh. $240 m... New Engineering Sh. $ n-
The following quotations have of the Catholics, announced in the S'hai Docks Sh. $50 n Cotton Mills..
Chamber that the Catholics were been received by Reater
Prev. Yesterday Ewo Cottons Sh. # #-
usable to support a motion of con-
Closing Closing Shanghai Cotton
Spfidence in the Cabinet's-economic (old)
policy.
-$65 1.
*
Wing.On Textiles Sh.$25 s.
100% Shanghai Lands Sh. $201⁄2 ti Metropolitan Lands Sh. $10 a Humphreys $8.10 2. - HK. Realties $4. Chinese Estates $88 China Realties Sh.$4 m China Debentures Sh.$123. n.
Public Utilities
A later message states that Spot there were-tense scenes
11.76 1191 1151 1136
in the New York Rubber:- Chamber following the refusal of July the leaders of the Catholic and September December Socialist Parties to support a me--
tion of confidence in the Govern January
March
ment
The Premier, Dr. Colijn, declined to permit an adjournment Chicago Wheat:- of the discussion, which was agreed July
11.25
11.25
REACTION IN BERLIN
**** CHINA MAIL" SPECIAL
Berlin, To-day. The ra, though quoted else- where very much lower than on Monday, was unchanged yester- day in the Berlin derinen market at 20. Reichsmarks to 100 lira. which
however. is quotation, rather of a nominal character Italian banknotes, however, de- elined from 19.90 to 19 Reichs- marks to 100 lira
This weakening of the lira
seems more pronounced in view of the tact
currencies that other
the Dutch guilder were fer, improving from 168.10 to 16820, the dollar 2479 to 2485, and the pound from 12305 to 1233.
OFFICIAL STATEMENT
A message from Rome states that to remove the misconceptions which have arisen concerning the suspension on Monday of the statutory 40 per cent gold cover behind the lira. an official state- ment issued yesterday deciares':
"The measures taken yesterday concerning the gold cover of the lire do not effect its cuITERCY value. As soon as possible the Italian Government will restore the 40 per cent. gold cover.
"The measures just taken were necessitated by several urgent foreign payments aggregating 500,000.000 lira "To meet its obligations promptly the Italian Government altered the law cop- cerning the gold cover. Through ́ this measure the Government will be able to discharge all obliga- tions, past, present and future.
"Through the supervision of the Currency Institute and the Office for Trade Quotas steps can
taken
lira to protect the gainst possible attacks.
Shanghai Cotton (new) $40 Zoong Singa Sh. $335 1
n
to
Lands, Hotels, etc. HR and S. Hotels $3.90 n. HK. Lands $31 82. RK Lands
New York Cotton:- The Catholics, who hold 28-votes July out of the Chamber's 100, have October hitherto supported the Government December and are represented in the Cabinet January (1936) by the Ministers of Justice, De-March fence and Economic Affairs. -
11.35
11.33
11.30
171.26
¡May
11.29
11.24
4% Debentures
12.25
12.10
11.91b 11.91
last
12.01
11.99b
12:24
12.21
12.31
12.28
1247
72.41
84%
23/
to, and a special meeting of the September Cabinet was summoned for MOITUW Morning.
85%
-8474
December
8T
$68
Chicago Corn:-
83%
842
+74%
75%
be
62%
627%
Winnipeg Wheat:~~~
July. August
BRISK BUYING IN EVIDENCE
80% 81 81 No.1 Na3 No. 1 No.
Con. Con Con. Con New York Sugar:---- July Sept
81%
¡Dec.
THE MERCANTILE BANK OF INDIA, LTD.
HEAD OFFICE -
Gencechurch Street. London, ECS. Authorised. Capital £3,000,DOG Subscribed Capital .... 1,800,000 1,050,000 Paid-up Capita! Reserve Fund & Best.. 1,247,432 BANKERS ? The Bank of England & Midland-Dank, Lil BRANCHIES: Ipoh
Sew York Kandy
Part ~ (Mmarition)
Thame Shanghai Assuti 17ahang) Sizla Madras
Singapore
accounts Bangkok
Calcutta
Bo
Kata Bbary Kasis Zipa
The Company offers to intending Colombo
| Delhi Travellers the use of its "Travellezz Cheques” and Letters of Credit and, Hong Kong Capital (fall paid-up) Yen:100,000,000 i addition, the world-wide services How Leserve Fund. Yen 125,800,000 of its thoroughly equipped Travel |
Department.
-Head Offer:—YOKOHAMA
Brancher and Agencies at Alexandria
Nagasaki.
Nagoya
New York
Batavia
Berlin
Bombay
Osaka
Calentte
Paris
Canton
Peiping Rangoon
Dairen (Dalny)
Fengtien (Mukden) Rio de Jeseiro
Hamburg
· Hankoo
*Harbin
Hong Kong
Honolulu
Hsinking Karachi
Kobe
London
Los Angeles Manila
San Francisco
Seattle Semarang Shanghai
Singapore
Sourabaya
Sydney Tientsin
Tokyo
Interest allowed for Current
EW. DUGGAN,
Manager-
THE WING ON BANK
LIITTED
Head Office: Hong Kong 76. Des: Voerr Road Central. Authorised Capital $10,000,000 LONDON, BANKERSƏ Westminster Band, Ltd Foreign Exchange and every das- jcription of banking business transact-
so!
Current Accounts and SJANSEN
counts opeated Fixed Deposits re crived at rates which will be quoted Biven on uplication Special Crater Afor Special deposits,
Deposits received for fixed at rates to be obtained
Gods!
Hour Kong, 13h
Trusteeshin, and. Excentorship an
Deposit Boxes
dertaken. Sate
hive:
PHILIP GOCKCHIN
Chief, Manager
ALI SHU KONG}
Kaala Tamper
HONG KONG BRANCH Every dowciption of Banking and Exchange) businows teamssted.
Travellers Choquos Jesued.
Trustee and Executorships ander taken
INTEREST: slowed on Current, bocounder mad Fixed Deposite of Estes that may be ascertained o application
·K. TEXNEDY,
7 Quen's Bod Central
Hong Kong, 1st April, 1835.
THE
Manager.
SHANGHAI COMMERCIAL & SAVINGS BANK LILATED
(Incorporated in China)
Capital paid
$5,000,000 000 Capit
Dept: $50 ings Dept. 3800,000.
"the industrial development on
China zed the fostering, of commercial relations abro "Hong Kong Office
7, Joe House St
Phone: 31,481-2-3.
HK. Tramways' $12.55 n. Peak Trams (old) $7 Peak Trams (new) $53⁄4% D Star Ferries $76. b. - Yaumati Ferries $17.60 m C. Light $8.60 b. ELK. Electric $57 b. Macao Electrica Sud T. Sandal LightTM $3 a. f Telephones (old) $ZI & Telephones (new) $8.30 m. China Buses Sh. $111⁄2 n. Singapore Traction 10/6 b. Singapore Pref. 22/6 b.
Industrials
Malabon Sugar 1815 a.
Cald: Macg, (Ofd), Sh.. $191⁄2
to-
It is expected that the Cabinet Joly .. will then either resign or ask for September the dissolution of the House Rentez.
BERLIN STOCK MARKET
December
"The foreign payments that the italian Government has to make concern materials bought abroad.” -Trans-Ocean Service.
LIRA BALLTES London, to-day-The lira, which -2.23 2237-227n 2.25n
2.22 2.26 2.32 2.28 depreciated to 65% following the 2.34 2.20 2.35 2.23 news of the Italian Government's Jan., 1936 2.10n 198 210 202 decree regarding- note, cover," later
1.99 Maz ~CHINA MAIL" SPECIAL
Berlin, To-day. ¡New York Stik:- Although Italy's suspension of July
Cald: Macg. (Pref:). Sh. $13 n.the 40 per cent, Hira gold cover and September
Canton Ices $1.80 1.
Cements $5,5
HK. Ropes $2 m2
Stores, etc.
Dairy Farms $15.80 m.) Watson $3.35
Lane, Crawford $3 Mackintosh SI ILG. Sinceres $4.95 B
Wm. Powells, 40°cta n2: Wing On (HK) 355 2.
MiscellaneoMS |
HK. Amusements $1.35 a. Entertainments $4 1.
S. C. Enterprises $185); Macao "Greyhounds. $2. Constructions" (old) $11 Constructions: (new)#50 Vibro Piling A Ch. Govt 85% 1925 G#Bds.---
203 rallied and closed at 61-11/16
On the metal market the cash price of tin was down to £233 per ton after Monday's sudden rise to £245. Questions are to be asked
141
1392
14135
139
the consequent drop of the lira December quotation on all the foreign Montreal Silver:- Bourses gave rise to considerable July L AS discussion in the Bourse bere yes September terday, the event in Italy had ap-December parently no influence on prices, which gradually stiffened;
1.42
1:40
.68.10
68.40
68.25
66.50
69.25
share January
69
in, the House of Commons to-day regarding Monday's events and what action the Government-pro- 69.50
Iposes to take through the repre- 9.25 69.651 sentations on the international in
control committee British Wi-
both the public and operators buy-RAW RUBBER PRICES Jess Servion
ing briskly. Metallurgicals were especially firm
Fixed interest securities were Latest Quotations From friendlier in tone, gold mortgage bonds being in demand, but the turnover was not
Call money, wWES 212 to 2% per cent. Trans-Ocean Service.
REICHSHARK QUOTATIONS
Berlin, quotations
HK Govt. 4% Loan 61⁄44% prem., are:
OvL 129% Loan: 132%) den,
HK
prem
Wallace Harper $4 11
hamark
Singapore
Messrs. H. B. Joseph & Co. have received the following Straits Cur- rency quotations from Singapore for Raw Rubber b
Spot 19% down 14, 1954 L
September 19% down
without
193
and Lon-
Folar,
ber 19% down
(1986)
205
Is It Insured?