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 Incorporat by Royal Charter, 1853. Reserve Funds
Sterling £6,500,000 Silver... $0,000.000
Reserve Liability of Pro-
prietors
HEAD OFFICE: LONDON
Paid-up Capital 20,000,000 Reserve Find
HEAD OFFICS HONG KONG.
Reserve Liability of Pro-
prietors
£3,000,00 £3,000,000
£3,000,001
Agencies and Branches:
Alor Star
Amrits
· Doo 1poh
"Bangkok
Karachi
Ratavia
Ranc
Bangmon
Semarang Seremban
Kab Funda
Khangbai
Szinwan
Canton Camepone
Kuching Madras
Coloczko
Manila.
www.ba ping Mechin
Kadan
Haiphong
New York
Ramburg
Phining
Hazkow
Harbir
(Peking) Pros
Tokohama Lambuanga
BOARD OF DIRECTORS
& Dodma's Eng
Cha-zmas.
C: C. Right, Day
Deputy Chairman.
T. X. Grayburn, Eng.
Chie! Manager
W. H. Bell, Esq. K. S. Morrison Esq. Cafet A. H. Compton Esc
M. T. Johnson, E39-| Come Hon. Mr. J. L. Paterson.
G. Miskin. Esq. T. E Pearce, Fag,Deb
BRANCELES
AXOS
BANGKOK
LONDON LION
RATA
BOYTLA
CALCUT
CANTON CHEFOO
COLOMBO
DAIDER
FOOCHOW
HAIMIONG
***G
FARAME HONGEEW
IPOH
JOHORE
ROBE
ROWLOGS
MALACCA
MANTLA
NTAR (Jobere)
MERDEN
NEW YORK
PEIPING
PESASO FANGDON
SUGON".
SAN FRANCISCO
KUALA LUMPUR
SHANGHAT
STNITAPORR
KOUTRA BATA
SUNGSI TATANI
TIENTSIN
TOKYO
TINGZAO
YOKOHAMA
Camp A-noise opened in Local Carenes and Fixed Imposite iceind se pro
Del 2 Level Commery and Sterling torek will be quoted- en addibnation. Hong Kong, 6th April, 1935.
נטריו
(Bhaker)
THE CHINA MAIL FRIDAY, SEPTEMBER 6, 1935
ommerce and Finance
LOCAL DOLLAR STEADY
Silver Prices Fall
The local dollar is steady, open- ing on demand his morning at 1/11
Spot" silver prices declined 1/16 to 291/16, and "forward" to 129
The London on New York cross- rate was quoted at £-US$4- 94%, as compared with --US$4-| 95, while the New York on Lon- Forum Erbange sad General Banking duine don cross-rate was quoted at -
Eure Long
tranmereč
Current Accounts corsed and Fixed Deponette | US$4.9471⁄2. 25 received for one year or shorter periods at rale £-U.S.$49573- which will be quoted on application.
A BREARLET.
Manager. Hong Kong, 1st January, 1995.
compared with
EXCHANGES
TO-DAY'S QUOTATION
THE BANK OF CANTON, LTD. On London-
Established 1912.
Head Office:-Hong Kong
Authorised Capital ............
| Pzid-no Capital Total ResoUICES
On T.T. and demand... 1/113% 1/1134 4 months' sight Credits 4 months' sight ...2/-7's On Stanghai-
demand $11.000.000
8,655,000 On jingapore 32.170.492
On demand On Japan
Branches: Canton, Toishan, Shanghai Hankow, Bangkok & San Francisco.
HONG KONG SAVINGS BANK London Bankers: Lloyds Bank, Ltd.
The Brain of the show Back in coaduat ed or too. HONG KONG AND SHANGHAI BANKING CORPORATION. Rates may be attame to arolinazon.
FOR THONG KONG AND SHANGHAI BANKING CUPMEATION
. X. GRATBURN.. Court Manager.
Hang Erng. With it, w
. Foreign Exchange and Banking 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 en application.
Safe Deposit Boxes (various sizes) for hire.
LOOK POONG SHAN.
THE
€
On India-
48%
LOCAL SHARES
TO-DAY'S QUOTATIONS
The following is the list of Jocal share quotations issued to-day:
Banks
H. Bank $1,050 $3 HA. Bank (London) 104 Chartered Bank £18 1. Mercantile Bank A. and
52916
Mercantile C. 51224 n Bank of East Asia $761⁄2 n.
Inyarances
Canton Ins. $180 32. Union Ins. $375 b., $37752 så. China Underwriters 10 cts. n. China Fire Ins. $382 n. HK. Fire Ins. $185 m. International Assee. $4 1
Shipping
Douglases $86 0-. EK. Steamboats $4 n Indo-Chinas (Pref.), $30 Indo-Chinas (Def). $12 n. Shell (Bearer) $71/3 m. Union Waterboats $114 n.
Mining.
Antamoks 80 cts. n. Balatoes $18 n.
71% Ipo Mining 90 cts. n-
Itogons 36 cts. n. Salacots 12 cts
131) -
$41%
On demand
166
On T.T. and demand
1309%
On New York-
Baguio Gold $241⁄2 cts. n. Benguet Consolidated $12.10 Benguet Exploration 13 cts. 1. Benguet Goldfield 10 cts n
On demand
Credits 60 days sight
-50%
Big Wedge 8 cts. - Gold Greek 30 cts. m.
Gold River 7 cts. n.
On Batavia
On demand
On Paris
Chief Manager
On demand
75736
Credits 4 months" sight .... 7821⁄2
Kailan Mining Ad: 11/6
On Saigon.
On demand
734
On Manila
On demand
9734
Langkats (Single) Sh. $14 1 S'hai Exploration Sh.$434 n S'hai Loans Sh. $54 a. Banks $7% n
On Bangkok-
Venz: -Goldfield $2.30, n.
On demand
94%
Docks, etc.
Sovereigns bank buying Par silver per oz
rate 2/-1
29 1/16
nom.
Capital Sergius
2.151,633.06
BOML
Reserves
$70.731.05
Copper cents
par.
BRANCHES:-
Antwerp Athwes
F
Bombu
Reale
The Revise
Havana Bamber
Vilan
Xapins Time or Tarin
Rate of native interest Chinese Sub. Coin Hong Kong sub. coin
3% pa
32% dia.
Calcutta
Cartin Harpteeg
New York
Berlin
Umaica
Bemba
Anatom
T
Priping
Prat Rungeon
Taiborn
Francis Cairo Curetta
hen Freacio
Paid-up Capita
INC.
THE BANK OF EAST ASIA, LTD.
Authorised Cap thì ..
325,000,000.0
35.2 609.00 AMERICAN EXPRESS COMPANY,
Beserve and Undivide! Paste,,DUM.40
HEAD OFFICE-BAV KONG
2. Sond Cent
BOARD OF DIRECTOS
Sir Shoumen Chive, Climas.
Een Cast. Eng. P. I. Funk Ing. WOLK Too Top Ing. Chan Ching the Dng To Lan Song. Eny. Teng Chur Soe. Exy, and End Fing To. Eng.
Batavia
EAD TOCE Pa Engin Chief Manage.
The Fong. Eng. X.
BRANCHES AND AGENCIES
Mazila
Metiource
Head Office:65. Broadway, New York
.U.S.$6,000,000.00
Atner
Hankow Socia Fuck Bowdon
VancouTM**
Truy
Yoko
Every decription of Banking and Exchange kaizens-trakcted. Lome gracited, or approved
Current Accouets opened in Local Curacy and Fixed Depot received for one year of sbarter period in Local and Foreign Curries. terms which w be quoted as applicatica Bate Diposit Inzo To Int
EAN TONG. PO.
Chief Mronger
Colombe Copenhagen Dublin Edinborgh
Genere
Flang Interlake
Tondiner
Paiping
Palermo Rotterdam *5799900 Shangh
mangupite
Tim Taormina
Venice Tokohama Zarich
Varmailbage Vestes Carlo
Munich
I
Xantrex
-Branches of American · Express) Company in Principal cities of United States of America and Canada.
All classes of Commercial Banking Transactions undertaker.
Personal investment
THE CHINA & SOUTH SEA BANK, handled.
LIMITED
(Incorporated in China)
Head Office
Capital
Reserve
Branches
Foreign Exchange
Bunideen' depan).
Shanghai
$7,500,000.00
$1,500,000.00 All Importart Cities
in China
and General
Banking
Current and Saving Accounts opened and Find Deposite end for or your of shorter perioda -
at rates whh will be quited on application.
SOC 2 CHANG.
Mixuper.
BONG KONG BRANCH:
26. Der Toruz Road, Central
Manager's Off
Zorion Ertharine Dept Gear Office
SƏ, KILAS.
SAG
Bar silver in Hong Kong Copper, cash
par.
NEW YORK STOCK EXCHANGE
Latest Quotations
September 6, The following quotations were re- eived by Reuter
Dec. May C. Corn Dec. 56%
May
The Company offers to intending Travelers the cse of its "Travellers Cheques and Letters of Credit and addition, the world-wide services of its thoroughly equipped Travel STOCKS: Department
HK and K Wharves (old)
$78
H.K. and X Wharves (new)
$74% 1.
HK and W. Dock 894 1. Providents (old) 55 cts. n. Providents (new) 20 cts. n. Hong Kew Sh. $240 n. New Engineering Sh. $4 n- Shanghai Docks Sh.578 n.
Cotton Mills Ewo Cotton Sh-$5.70 b.
(old) Sh. Shanghai Cotton
$65
Shanghai Cotton (new) $40 m Zoong Sings Sh. $8. Wing On Textiles Sh. 25:12. Lands, Hotels, etc.
GERMAN FINANCE POLICY
Minister Tells Of Two Amazing Recoveries
"NATIONAL SOCIALISTS WILL MASTER PRESENT PROBLEMS”
→CHINA MAIL TM SPECIAL
Berlin, To-day.
CANADA'S WORLD TRADE
Fifth Among The Nations
POSITION WELL ATTAINED LAST YEAR
Ottawa
NEW YORK STOCK MARKET Continued Caution Advised
EXCELLENT PREMIUM FOR
- CASH WHEAT
In their market report, Messrs.
Canada more than" retained her S. E Levy and Company: corres In the September issue of the
place in fifth position in 1934 pondents for Messrs. White Weld Europeaeische Revue, the Reich
amongst the great exporting na-and Company. New York, state:-- Finance Minister, Count Scheions of the world, increasing her. "Stocks: Although the line of werin von Krosigk contributes an article on The German FinPercentage of the total world ex-least resistance is still upward, we port trade froir 9.59 in 1933 to continue to advise caution and the ance Policy." in which he says.99 last year.
acceptance of trading profits on that Germany had twice stood at
It looks like a period of These figures, taken from the bulges. the brink of economic chaos and both times had succeeded in over 1954 trade report of the League of distribution unless offset by renew coming the danger by converting Nations, show that Canada's pered waves of inflation psychology. despair and stagnation into hope centage of world export trade was which to-day appeared to be res
greater than in any year since ponsible for the gains in Gold+ and activity.
stocks, or by war news which would be the basis of a further Business
Currency ECODOMY.
D
to
"
NY/Landon
cross-rate
clase close
493% 4945
11.77
The time of inflation was over-prior to the depression.
Status Maintained Jcome by the creation of a newr
war stocks is rally in Although world export trade and the most. rigid
Jestimated by the League of Na-done: 1,890,000 shares." Again at the time of
(Continued on Page 10) {tions statisticians at only 34.4 per deflation Germany, had to adopt a
Latest Quotations totally new finance policy because cent of the 1926 normal, Canadian
The following quotations were her resources were exhausted and exports are shown to be nearly 37
per cent. normal, while in 1993 received by Renter her capital totally wanting.
Prev. To-day' they were 34 per cent. Canada's As private orders were non- existent, the State had to create statas in world export trade has been maintained despite reduced work by itself, giving orders restore the economic machine movements of grain. indicating NY. Cottes Oct....10.36/39 10.34 which had admittedly been financ-possibly increased shipments of NT. Rubber Dec. 11.36
Chicago Wheat Dec 90% manufactures.
66.00 ed on short term credits. It was
An even better showing is ex-Montreal Silver Dec. 65.90
Silver Official 65 55張 impossible to avoid a "resort to
Dow Jones Averages the reserves of the future." But pected for the current year, 25
domestic exports for the first half so Industrial 123.46 129.3 88 ap success came in the shape of re of the year total $300.265.000 (560,- 20 Raus duction in unemployment from 053,000), as compared with $289.-20 Utilities 45.63 25.98 35 op 6,000,000 to 1,700,000, and an in- 659,000 (£37,981800) in the cor 11 Commodity
responding period of last year.. crease in State revenue milliards yearly.
Rising Imports Now the chief thought must be in imports. Canada has risen the use of the reserves created to from the eleventh greatest import pay back credits and consolidate ing nation of the world in 1933 taj short term obligations. As soo ninth position in 1934. This bas as the new capital is formed it been mainly brought about by in- must be made to flow in a straight erasing imports of raw and par line to the capital market wherely finished materials for use
Canada last It will be absorbed for funding the Canadian factories. floating debt.
İyear took 260 per cent. of the "The National-Socialist Govern-world's imports, as compared with ment will furnish proof that it can 228 per cent. in 1933-Reuter. and will master present problems." --Trans-Ocean Service.
by two
REICH CHAMBER OF ECONOMICS
First Meeting Held In Berlin
DR. SCHACHT ADMINISTERS OATH OF LOYALTY
*** CHINA MAIL * SPECIAL
NEWSPRINT IN CANADA
Rapid Growth Of Industry.
Ottawa.
Index
35.62 36.01, 39 up
5286 53.17 SI up Business Done:-1,890,000 shares.
CHINA'S ECONOMIC COUNCIL
Standing Committee Postponed
Nanking, To-day.
the The regular meeting of standing committee of the Na- tional Economic Council, ozigin- ally stated to take place at 3 o'clock yesterday afternoon, was postponed on account of the lack of a quorum.
Of the members of the stand- ing committee, it is learned that only Mr. Wang Ching-wei -and Dr. H. H. Kung are. now
here. Both Messrs. TV. Soong and
meet-
The production of newsprint, practically all of which is used in Sun Fo. who are now in Shang- the printing of newspapers, is, of hai, could not attend the course, one of Canada's leading in- ing-Central News Agency. dustries. The vast forests of
spruce and power available from COUNCIL
waterfalls combine to make
Can-
ada the ideal place for such produc- Berlin, To-day. The newly created Reich Cham-tion.
It is unlikely that any other ber of Economics held its first meeting on Wednesday when, in part of the world offers the neces- opening speech, Dr. Hugo sary conditions for cheap prodne- san
Schacht reviewed the functions tion of paper in anything like the purposes and scope of the new same degree as Canada. Linstitution
H. and S. Hotel $3.40
$2.40/34 H.K. Lands $261⁄2 n EK. Lands 4% Debentures $100
Shanghai Lands Sh. $201⁄2 nhe Metropolitan Lands Sh. $10 n. Humphreys $172 1
Chinese Estates $88 a.
China Realties Sh.$4 n. China Debentures Sh.$123 n
accounts
11.00 close 10.20 NY/London 4.95 4944 194% N. Cotton
Oct.
10.38 10.36 10.38 May
10.53 10.56 10.57 NY. Rubber
Dec C. Wheat
I
11.86 11.75b 11.75
90% 9214
92
93
HK Realties $4
564
58
58%
E. W. DUGGAN
Amer Smelting 45%. Con Gas N.Y. 23 Manager. Eler Bond &
Share
45% 45%
2814
28%
Public Utilities
HK. Tramways $111⁄2 sa
13
13%
13%
Peak Trams (old) $5.
General Motors 43%
434
434
Peak Trams (new) 15% a
Int. Tel & Tel 10% Loew's Inc. 4234
10%
10%
42
427/
Ward
N.Y. Central
Standard Of "
XJ US Steel
34%
24 23%
454 4535 44
44%
344
2434
454 44%
THE WING ON BANK Montgomery
THE YOKOHAMA SPECIE BANK /
LIMITED.
Established 1880
Capital (full paid-up) Yen. 100,000,000 Eeserve Fund. Ten 125,800,000
Eead Office:-YOKOHAMA
Branches and Agencies at:
Nagasaki Nagoya
Alexandria
Batavia
Berlin
Bombay
Calcutta
Canton
Dairen (Dalny) ·
LLATED.
Head Office: Hong Kong 3. Der Vorox Road Central. Authorised Capital $10,000,000: LONDON BANKERS:-
Westminster, Band. Ltd., Foreign Exchange and every des-
RAW RUBBER PRICES
mintion of banking business transact Latest Quotations From
ed
Current Accounts and Savings Ac- counts opened. Fixed Deposits re reived at rates which will be quoted
Singapore
Messrs. H. B. Joseph & Co. have application Special rates given received the following Straits Cur- [for Special deposits.
Trusteeship and Executorship unrency quotations from Singapore Gjertsiken. Safe Deposit Boxes for for Raw Rubber:- hire...
PHILIP GOCKCHIN *-Chief Manager
New York
Osaka
L. GOCKCHIN Asst. Manager
LI SHU FONG Asst. Manager
Paris
Peiping Pangoon
Fenstien Makden) Rio de Janeiro
San Francisco
Seattle
Semarang
Shanghai
Hamsburg
Hankow:
Harbia
Hong Kong.
Honcinin
“Singapore
Somabaya
Sydney
Bsinking
Karachi
Kobe
London
Los Angeles
Moj
Interest-siowed for
Deposits received for faced rates to be obtained on appl
CKISHIN
Hong Kong 11th March
"THE
SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED- (Incorporated in China)
Capitel paid
$5,000,000
Reserves
$7,300,000.. Capital Savings Dept. "150000. Eeserve Savings Dept. $600,000, Head-Office-Shanghai
Bank having an its mission the industrial, development co China and the fostering of her commercial relations abroad. Hong Kong Office
#7, Ice House St. Phone #41437-ZA
Spot 18% Down / b., 19% 8 October-December 19% Down
43, 193% 8 January-March (1936) 19%
Down 20% s April-June (1936) 20% Down
3% b. 20 s.. Market: Flat
RETURNED OVERSEAS CHINESE TO BE AIDED
Canton, to-day-The Commis sion on Oversea Chinese Affairs held its first meeting yesterday at 12 pm at which is was decided to register returned overseas Chin ese. It is understood that his is the first step in the direction of affording relief to returned over seas Chinese who are unemploy- edCentral Prèss.
Star Ferries $782 D Yanmati Ferries $17.60 n.
C. Light $8.05 11 H.K. Electric $55 za. Macao Electrics $20 1. Sandakan Light $3 a. Telephones (old) $201⁄4 n. Telephones (new) $8.20 n. China Buses Sh$111⁄4 n Singapore Traction 10/6 n. Singapore Pref. 22/6 b.
Industrials
Malabon Sugar 881⁄2 n Cald, Macg (Ord) Sh $191⁄2 n. Cald: Macg (Pref.), Sh$13 Z. Canton Ices $1.80 1 Cements $3 IL- HK Roper $2.15 1. Stores, etc. Dairy Farms $15 Watson $3.05 n Lane, Crawford $3 n. Mackintosh #71. Sinceres $5 o Wm. Powells 70 cts. IL. Wing On (HK): $55 n
sa
Entertainments $47 S. C. Enterprises $1 Mazao "Greyhounds”” 42 n. Constractions (old) $110. Constructions (new) 25 cts. Vibro Piling #42 Ch. Cost 5% 1925 G*Bas
90% 1. HK GÖL 4%
prem. h HLK Gort 3
Wallace Earp
Rapid Growth
MEETING
AT GENEVA
- (Continued from Page 9-). speech announced on behalf of his
to ¡Government its readiness 25-* He sume all its responsibilities. The growth of the industry in repudiated any sympathy with the At the close, in his capacity of
conditions which the Italians Economics Minister, Dr. Schacht Canada has been rapid, and some administered the following caththing like 70 per cent of the news-alleged existed in Abyssinia, but to all members of the council: "Iprint production of North America, claimed that it was indispensable bind myself to unconditional the leading area for this industry, to protect the integrity, and inde- the member of loyalty to the Fuehrer, the Reich is now made in Canada, thus mak-pendence of a
There were other than Chancellor. In fulfilment of the ing the Dominion first among League.
military measures which could be National-Socialist economic purworld producers.
pose I will devote all my power
In the first six months of 1935. used to civilise backward countries.
as which the Italian member asked
a the Council to take up. Bus-
sia joined the League to collabor ate in the cause of peace, and for
to building up the Third Reich Canadian production of newsprint; He could not approve the attitude and as far as my own activity amounted to 1284.903 tons. that of my collaborators and all compared with 1,261,633 tons those under my authority, is con-year ago-Beuter. cerned, I will employ all my thought and action to the sole high aim of furthering the work of the Fuehrer and promoting a real and permanent people's com monwealth.”. •Trans-Ocean · Ser- vice.
AMERICAN SILVER PURCHASES
1,159,000,000 Ounces Bought To Date
1,300,000,000 OZS. STILL NEEDED FOR RESERVE
BERLIN SHARE that reason he advised his
MARKET
FIRM TENDENCY REPORTED
со
lengues not to shrink from the necessary decisions. Ty Mine
of
PREMIER IN LONDON " The Prime Minister, Mr. Stan- ley Baldwin, arrived at No. 10 Downing Street yesterday after- noon after his continental holiday.
· CHINA MAIL SPECIAL
been No arrangements have
formal meet- for a made Berlin, To-day.
Mr. but Ministers, -A firm tendency prevailed in ing the share market yesterday, owing Baldwin will be in consultation to the favourable reports about with those of his colleagues who the public response to the offer of are in London, including the For- 500,000,000 marks worth of 47% eign Secretary, Sir Samuel Hoare, per cent Treasury Bonds, and the Chancellor of the Exchequer, |partly owing to the satisfactory Mr. Neville Chamberlain, and the official figures about the develop-Lord President of the Council, Mr. ment of the automobile industry, Ramsay MacDonald. The Prime showing that the number of Minister will spend the week-end chauffeurs licences issued in Jnly at Chequers British Wireless was 55 per cent higher than in Service. Joly last year.
Most fixed interest securiti
Washington To-day. According to official reports the silver purchased by the Treasury since the adoption of the silver programme now --ex- ceeds 500,000,000 ounces, with remained steady, but city
a noticeable exception the total of silver stocks now over 1,159,000,000 ounces, hav-ly weaker Call inga monetary value of 3 to 3% per cent $1,495,000,000.0
With the present gold re- serves of $9.203,000,000, neces- ve of sitating a $3,067,000,000 Loan 6% by 2.500
fil the
ver Act
have to
Is It Insured?
REICHSMARK QUOTATIONS
Inc USA General Agents.
Berlia quotations
to ful-are- the Sil-6085;
0,000
ed Reuter, 153