THE CHINA MATE, TUESDAY, AUGUST,
1935
BANKS
HONG KONG AND SHANGHAI
BANKING CORPORATION...“
Authorised Capital
$50,000,000
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Issued and Fally, Paid-up 20,000,000 Incorporated by Royal Charter, 1853.
Reserve Funds
Reserve. Liability of Pro-
£3,000,000
Sterling
£6,500,000
Silver
40,000,000
prietors
HEAD OFFICE: LONDON Paid-up Capital 20,000,000 Reserve Fund
$3,000,000
HEAD OFFICE HONG KONG.
Reserve Liability of Pro-
prietors
£3,000,000
Alor Sear
Aanriter
DOARD OF DIRECTOK.
Doswell, Eag
Chairman...
CC night. Eng...
Deputy ChairINA
T. M.-Grayburn. Esq.
Chief Manage.
Bangkok:
Beleria
| Bombay
Calcutt Canton
| Cabe
W. H. Bell, Esq., E. S. Morrison E, Caspore M. T. Johnson, Esq. Colombe
A. H. Compton Esq
Hon Mr. J. J. Paterson,
G. Miskin, Esq. TE Pearce, Esq. Hamborg
ΑΥΓΟΥ
BANGTOK BATAVIA
BOMBAT
CALCUTTA
CANTON
CHEROC COLOMBO
- DAIREN
FOCHOW
BAITHONG
HAWAING “HANROWS"
HASRIN
BONGKET ILOILO
INT
JORNE
BRANCHES:-
LONDON
LYONS
MALACCA
MANILA
MCAR (Jobore!
MUXDEN
NEW YORK
PEITING
EXANG
RANGOON
SAIGON
SAN FRANCISCO
KUALA LUMPUR
SHANGHAI
SINGAPORE
SOFTABATA
SUNGET, PATAKI
Agencies and Branches:
Rangoon Salgroe Kekarang. Serpenheath. Shanghai Singapore Sitiawan
Tiebla
Ipak Karachi Nang
Lamper
Kuching
.
Madre
Makala
patil Haiphong
Moder
Tongind
4. Tak.
Prising
(Paling) Pesang
Baskon Harbie Hose Koog
Surabaya. Triping
(Bruker) Tsingtao
Yokohama
-Zamboanga
Farmagn Embanga sad General Banking but Carmens Accounts opened and Plant Depot rereited for one year or shorter periods at (which will be quoted on application.
A. BREARLET.
Manager. Hong Kong, 1st January, 1933.
THE BANK OF CANTON, LTD.
Established 1912.
Head Office-Hong Kong.
Commerce and Finance
LOCAL DOLLAR STEADY
Silver Prices Decline
The local dollar is steady, open- ing-on-demand this morning at 1/11.
Silver prices, however, declin ed. "spot 1/16 to 29 and "for! ward to-28-15/16.
The London on New York cross- rate was quoted at S-US$4.973%, as compared with US$497, while the New York on London Cross-rate was US$498, 23 compared with US$4.93.
EXCHANGES
TO-DAY'S QUOTATION
KORE
KOWLOON
TIENTSIN
TORTO
TSINGTAO TOKOHAMA
Current Accouate opened in Local Currency and Fixed penisu moriend for one year or shorter print in Lewend Currency and Sterling on to which, will har-gunted on applicazioni.
Hong Kong. 6th April, 1935.
HONG KONG SAVINGS BANK
The Bars of the whore Hark in conduct ad by the {{ONG KONG AND SHANGHAI BANKING CORPORATION, Rare may, be obtained on explicata.
FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.
T. M. GRATBURY,
Total ResouLCES
Branches: Canton, Toishan, Shanghai
Hankow, Bangkok & San Francisco. On demand London Bankers: Lloyds Bank, Ltd.
Foreign Exchange and Banking On Singapore
On demand business of every description trans- acted.
Current Accounts opened and Fixed Deposits received for one year or shorter periods at rates which will be quoted on application.
Safe Deposit Boxes (various sizes) for hire.
LOOK, POONG SHAN,
Chief Manageri
On Japan-
AMERICAN EXPRESS COMPANY, On Paris.
Boeg Kong. 2b Frimun
Chief Manage.
~
„$10,000,000,00
$ 5,508,600,00 2,481,000.00
THE
LOCAL SHARES
́TO-DAY'S QUOTATIONS
-The following is the list of local share quotations issued to-day:
Banka
H.K. Bank $1075 b. H.K. Bank (London) 5112 Chartered Bank 18
Mercantile Bank A. and
$291 11.
Mercantile C. 512 D. Bank of East Asih $761⁄4 n.
Insurances
Canton Ins. $185 m. Union Ins. $380 1. China Underwriters 10 cl. The China Fire Ins. $582 m. HF Fire Ins. $185 m. International Assee. $4 m
Shipping
Douglases $36 ¤-.
HK. Steamboats $4 n. Indo-Chinas (Pref.), $30 n. Indo-Chinas (Def.). $12 n. Shell (Bearer) 73711⁄2
NEW
BANKING BILL SENT ADVERTISEMENTS
TO WHITE HOUSE
NEW POWERS FOR
PRESIDENT
PUBLIC AUCTION
Undersigned have recei
THE Ted instructions to sell by
CONTROL OF RESERVE BANKS
CREDIT POLICY
Earlier messages stated that the Washington, To-day. The Banking Bil conference Senate had passed and sent to the accepted by the White House-the Omnibus: Bank- report was House and the Senate, and the ing Bill, the conference report of
Public Auction
OTTE
Friday, the 23rd August. 1935, commencing at 230. pm.
at their Sales Room, No. 35, Hankow Road, Kowloon, A Quantity of VALUABLE HOUSEHOLD
comprising
FURNITURE
Chesterfield Suites, Bed Room
pets and Rugs, Glass and Por Bill has been forwarded to the which, reconciling the House and and Dining Room Furniture. Car- The underwrit the Senate differences, being accelain Ware. Gramaphones and White House. ing amendment was dropped cepted by the House and imme
Records Clocks, Ornamets, Ice The Bill gives the Government diately sent to the Senate for final Chests, Linen, Aluminium Ware, appointed Federal Reserve Board Congressional action-Renter Crockery, etc., etc., control of the Reserve banks” open in
Benguet Consolidated $1210 D Benguet Exploration 13 cts. Benguet Goldfield 10 cts n.
On London
Authorised Capital ...
$11,000,000
On T.T. and demand
1/11
Paid-up Capital
8,655,004 $2.170,492
4 months' sight
1/11%
Credits: 4 months' sight
2/4
On Shanghai...........
1824
Union Waterboats $1
Mining
[84]
Antamoks 793% cts.
Balatoes $18
On demand
1654
Baguio Gold $241⁄2 etsin.
On India-
On T.T. and demand
129%
On New York- On. demand
484
Big Wedge & cts. -
Credits 60 days' sight
50%
Gold Creek 30 cts. a.
On Batavia--
Gold River 7 cts. n.
On demand
7136%
Ipo Mining 90 cta zi
Itogons. 36 ets. 1.
as
INC.
On demand
735
Salacots 12 cts
Credits 4 months' sight
780
Kailan Mining Ad. 12/9 n.
Head Office:-65. Broadway, New York
On Saigon--
Langkats (Single) Sh. $14 2.
On demand
734
S'hai Exploration Sh.$4% n.
On Manila-
Shai Loans Sh. $54, n.
On demand
971
Rauba $7 b
$70.731.05
On Bangkok-
On demand
94%
Yenz: Goldfield $2:30 n.
Docks, etc.
BRANCHES:
Amsterda
Anteny
Athrom
•Annama
(repos Glagow The Hague Karena
Жина
Saples
¡Bar Silver per oz. --
29
Bamb
Piratur Para
Bar silver in Hong Kong
дот
Bertits
Copper cash
nom.
Pembay
Copper cents
"Bremen
Frames
Cairo
Index
Liwrpool
THE BANK OF EAST ASIA, LTD.
•Authorised: Capital
Paid-up Capital
•Reserve and Cadivided Profita
HEAD OFFICE:-BOVO KONG 10. De Tom Fond contral
BOARD OF DIRECTING:m
Sir Shou-on Chow, Chai nat
Loon Ches. Eat. P. E. Kwak. Esq. Teng THS TODE. En Char Ching shok, Eng Tri La Fox Eagong Chu Son. Eg and Ion Ting Pa Zeqμ
Tan Tour Po. Eng., Chief Maungat.",
Li Foog. Enqu. Manager.
BRANCHES AND AGENCLEX
Mourne
Capital Surplus Reserves
Amor
Mana
Fatim
Sembarang
Batavia
Bombay
Sanaki
Shanghai
Calcutta
New York
Singapore
Canton
Ovalta
Haiphong
Paris
Sourabaya Swatow
·Triping
bydney
Taitoks
Timalis
Tokyo.
Vancouver Yokobama
Hanko Honelala
Kahe "Kowloon Loodoo
Ponary
Rammod
Saigy A San Francines
· Every description of Backing and "Exchange baltees traanected. Los granted on approved
securities.
Cerrook Accounts opened in Ional Currency and Fixed Deporita · racaived for obe year or aborter periods in Local and Foreign Currence se teema, which will fur quoted, on application.
Bade Deposit Box To Let
KAN TONG PO
-Chief. Maonger.
Calcutta Concre Cniombe
Copenhagen Dublin Edinburgh Flettin Geners
.U.S.$6,000,000.00 2.183,633.06
Hamburg Harro
Inseinkre Jerusalem
Luceste
Lugano
Lutor
·Marneillon -
Monte Carlo „Manila "Menich
Montreux
Priping Palermo Rotterdam Foru Shanghai Southampton.
Singapore
Tientsin
Taormina
Vrons Tenice Yokohama Zarich
Branches of American Express Company in Principal cities of United; States of America and Canada.
All classes of Commercial Banking Transactions undertaken.
Personal investiment
handled.
Sovereigns bank buying rate 2/-% HK and K. Wharves
Rate of native interest Chinese Sub. Coin Hong Kong sub. coin
par.
3% pa 33% dis
EASTERN FAIR IN
GERMANY
All Records Likely To Be Broken
→ CHINA MAIL – SPECIAL
Koenigsberg, To-day. The success of the Eastern
The Company offers to intending Travellers the use of its "Travellers Cheques" and Letters of Credit and, Fair, which was opened here on
addition, the world-wide services of its thoroughly equipped Travel Sunday last with a speech of the
iz
THE CHINA & SOUTH SEA BANK, Department,
LIMITED
(Incorporated in China) Head Office...Shanghai
Capital
Reserve
Branches
Foreign Exchange
Business transacted.
$7,500,000.00 $1,500,000.00
All Important Cities in China
and Chen?
Beaking
Current aid Saving Accounia opened and Fixed Deposits received for one your or shorter periodir
at istea which will be quoted on application.
500 Z CHANG,
HONG KONG EPARCE.
Kanager.
24. De Voss Bond, Castra),
Mabac's Office
General Office ---
Foreign Exchange. Dept.
Cashier's Offor
„Tal, 33565
$778. The
HK and K Wharves
$7472 1
also
A Selection of Black Wood Furniture
and'.
One Radio Set and Loud
PASSED WITHOUT, VOTE market policy through a 7 to 51 A message dated July 26 stat- majority over the representatives ed that the Senate without the of the banks in a new committes recording of a vote passed the empowered
policy.Banking Bill substantially as re- to dictate Furthermore, Fresident Roosevelt vised by the Senate Banking Com- is empowered to appoint a new mittee. The bill now went to Speaker.
Board with conference with the House of One Radio Set with Grams- Federal Reserve
Iphone and Pick-up in Cabinet. Senate approval before February Bepresentatives, which passed a 1, 1996, thereby getting complete much more drastic reform of the control of the Reserve Banks' cre-measure........ dit policy.
NEW YORK STOCK MARKET
Probable Further Decline
PROTECTION OF PROFITS
· RECOMMENDED
X
Prior to the passage of the bill the Senate, despite Administra- tion opposition, voted by 39 votes to 22 to retain the provision per- mitting the restricted underwrit- ing of securities by commercial banks' and also voted down by 59: votes to 10 a substitute proposal to
create a Government-owned central bank.
COMMITTEE AT WORK
A message dated June 30 stated that the Washington. correspon dent of the New York Times:
In their market report. Messrs. learned that an important amend
One "Atwater Kent" Radio Set- On View from Thursday, the 22nd. August, 1935.
LAMMERT EROS,
Auctioneers. Hong Kong. August 20, 1935.
MILK MARKETING SCHEME
Poll Shows Desire For
Retention
J
London. To-day.
The result of the poll of regis-
Agricultural S. E. Levy and Company. corres-ment of the Banking Act, which tered milk producers taken, as pondents for Messrs. White Waldbecame law earlier this year, had provided by the and Company, New York, state:been adopted by the Senate Bank-Marketing Act, to determine whe ing Sub-Committee. The Com-ther the milk marketing scheme *Stocks: Early Congressional mittee had just completed its instituted in 1933 should now be revoked or continued, is annome- adjournment seems to be reason-work of revising the new Bill
(new) prices this week will be mainly Securities Act of 1933
The amendment,
For continuing the
scheme.
ably sure, but the response of the The amendment would permit ed as follows:— market to this is now less favour-banks to underwrite new issues able than it was last week as Pre of securities, and would exempt 79,711 individual votesi or 81 per sidential pressure of the enactment them from civil liabilities impos- cent representing 1,431,342 votes (old) of "must" legislation is apparently ed upon underwriters under the based on the cow population, or
$6 per cent. effective. Hence, the progress of
For ending the scheme, 18,747 which had governed by daily Legislative de been urged by bankers for some individual votes
The fate of the time as velopments.
i means of reopening 222,722 votes, based on cow popa- Utility Bill is still in doubt, capital on the market, would go lation though reports indicate some pro-along way towards restoring to The milk marketing scheme gress towards a compromise. The deposit banks, including J. P. therefore will continue-British sizable volume of selling, the first Morgan & Co., their share of the Wireless Service..
HK and W. Dock $72 1 Providents (old) 66 cts. n. Providents (new) 20 cts. n. Hong Kew Sh. $240 n. New Engineering Sh. $4 n- Shanghai Docks St.$78 n.
Cotton Mills
Ewo Cottons Sh. 7. Shanghai Cotton (old)
$65.
in many weeks, indicates a prosecurities business taken away
re
bable further decline and we commend the protection of profits Sh-in trading accounts. Business
done: 2,070,000 shares.
n.
Shanghai Cotton (new) 340 Zoong Sings Sh. $31⁄2 Wing On Textiles Sh. $25 n. Lands, Hotels, etc. H.K. and S. Hotels $3.55 b,
$3.55/60 22.
HK. Lands $2834 b.
HK Lands 100% D
4% Debentures
Shanghai Lands Sh. $201⁄2 m.
greatest significance by the Pre-Metropolitan Lands Sh. $10 mi "E. W. DUGGAN. sident of the Reichsbank, Dr. Manager Schacht, was already evident on the opening day, when no fewer
THE WING ON BANK than 60,000 persons, which is 50
LIMITED.
Head Office: Hong Kong 26. Des Voeux Road Central.. Authorised Capital $10,000,000
LONDON BANKERS:--- Westminster Band, Ltd
per cent of the total attendance at last year's fair, paid admis- ision.
The exhibits, which afford a comprehensive survey of the high-quality products of German industry, also include sample Foreign Exchange and every; des-goods from Poland, Latvia, Tur- cription of banking business transact key and British India, of which Current Accounts and Savings Ac the last-named is represented for counts opened. Fixed Deposits re-the first time.-Trans-Ocean Ser- ceived at rates which will be quoted vice. on application. Special zates given for Special deposits.
[edi
Trusteeship and Executorship an
THE YOKOHAMA SPECIE BANK dertaken. Safe Deposit Boxes Sor
LIMITED.
Established 1880
Capital (full paid-up) Yen. 100,000,000 Reserve Fund A. Yen 127,800,000
Bead Office:-YOKOHAMA
Branches and Agencies at:
Nagasaki Nazoya New York Osaka
Alexandria
Berlin
Batavia
Bombay
Calcutta
Canton
Dairen (Dalny)
Hamburg
Paris
Peiping
Rangoon
San Francisço
Seattle
Tengden Mukden) Rio de Janeiro-
Haskow
Harbin
Hong Kong Honolulu
Banking
Kober
Londons
Los Angeles
Maniia
Hof
Semarang
Shanghai
“Singapore. Sourabaya
·Sydney Tientsin Tokyo
Tsingtan
Tingkow
Interest sllowed for Current
Deposits: crived for:
to be obtained
hire
L. GOCKCHEN Asst. Manager
PHILIP GOCKCHIN Chief Manager
LI SHU FONG Asst Manager
SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China) Capital paid up $5,000,000,
Reserves
$7,300,000. Capital Savings Dept. $500,000. Reserva Savings Dept. $800,000 “Head-Office---Shanghai g
A Bank having as its mission. the industrial development" con China and the fostering of her commercial relations abroad.” Hong Kong "Office-
7, Ice House "St. Phone 31481-2-3
GUFFET COAL BILL PASSED BY SENATE
Washington. To-day
passed the Guffey
votes to 168. which establishes
the
BERLIN SHARE MARKET
Extreme Caution Prevails
*** CHINA MAIL" SPECIAL
Berlin, To-day. Reports that the Italo-Abyssin- jian outlook was definitely more difficult, with slender prospects of an armed conflict being avert ed, caused buyers to exercise ex- treme caution on the Berlin share market yesterday, this attitude being intensified by Dr. Schacht's Koenigsberg speech on Sunday, though, on the other hand, his Femphatic
the Reich
currency would re- main stable helped to adjust the balance."
assurance
The
Prices weakened The turnover in fixe curities was confined.
limits Trans-Ocea
the close.
ervice
Humphreys $752 1. H.K. Realties $4 m
Chinese Estates $88 n. China Beatties Sh.$4 n... China Debentures Sh.$123 1. Public Utilities
HK. Tramways $12.60 m. Peak Trax (old) *7% 2- Peak Trams (new) 15% n. Star Ferries $72 b. Yanmati Ferries $17.60 2.
C Light $8.25/40 sk. HK. Electric $59 h., $591⁄2 sa. Macao Electrics 120 nj Sandakan Lizbt:$3 a: Telephones (old) $201⁄2 b. Telephones (new) · $8.20 China Buses Sh$111⁄4 n Singapore Traction 10/6 n. Singapore Pref. 22/6 3.
- Industrials Malabon Sugar: $871⁄2 11. Cald: Macg (Ord.), Sh. $191⁄2
Cald: Macg (Pre£.), Sh. $18 2. Watson $3 b., $3.10 32. Cements $34 BA HK. Ropes 2n
Stores, etc. Daily Farms $15% 5. Sinceres $5.255.2 Lane, Crawford $3. n. Mackintosh $7 'n Sinceres $5.10 h Wm. Powells 70.cts. Wing On (HK) $55
Miscellaneous Entertainments] 34;n.
SC Enterprises- $135 2. Macao: “Greyhounds” $2 Constructions (old) $1.10 Constanctions (new) $ Vibro Piling?$4\m/ Ch. Gost 5% 1925 G.Bds.
90%
4% Loan 62%
(Continued on Page 7)
DOMESTIC COPPER
SALES
Export Quotation Stiffens
Washington, To-day..
by the Banking Act of 1933:
MORGAN'S CHANGE-OVER The latter Act made it unlaw ful for any bank or similar or ganisation to receive deposits and at the same time engage in the business of issning, selling or un- derwriting securities,
The great financial house of J. P. Morgan & Co., as a result of the 1933 Bill, gave up their se- curity business, becoming a de- posit bank only..
OL
The Securities Act of 1933 pro- vided that underwriters as well as issuers and merchandisers Sales of domestic copper report securities might be sued by the ed at, 814 cents advance reflect purchasers if the registration of the constant expansion of de- the statement of issue contained mand coincidently sustained any untrue. statement or if any with the upturn in industrial ac material fact was omitted, tivity. The export quotation The new amendment, while also stiffened, with sales abroad, providing that ordinary deposit which recently slumped, im-banks might proving noticeably in the last issues of securities, both stocks few weeks, apparently on the and bonds, did not permit the war preparations in some Euro-banks to sell securities, either
wholesale or retail pean countries. Reuter.
RAW RUBBER PRICES Latest Quotations From Singapore
Messrs. H. B. Joseph & Co have received the folowing Straits Cur- rency quotations from Singapore for Raw Rubber ----
Spot 19% down / b. 19% s. October-December 19% down
by 19% January-March (1986) down 1⁄4 5, 203/ 3. April-June (1936) 21% down
by 21 Marketi
ber
Staguent
CANTON'S UNEMPLOYED
20%
underwrite new
SINO-SIAMESE TENSION
Chinese May Stop Importing Rice
Canton, To-day. Incensed by the anti-Chinese movement in Slam, the Overseas Chinese Labour Union in Annam frecently eirenlated a telegram urging the Central Government to prohibit the import of Siamese rice in order to make the Siamese authorities.come to their senses.
It is stated in the tel that rice may be purchased from Annam where most of the rice mills are operated by Chinese Central
REICHSMARK QUOTATIONS
Berlin,
representing
Everything
gone.. BUT YOUR SAVINGS
RENT
FOOD
CLOTHING
НЕАТ
TAXES
WATER
CHITS
SAVINGS
SAVE SOMETHING
START NOW UNDERWRITERS SAVINGS BANK
FOR THE FAR EAST, INC.
Azis Life Buiding
Is It Insured?
the
forwarde
Wallsre Harpers $4 n.