BANKS
HONG KONG AND SHANGHAL. THE CHARTERED BANK OF
BANKING CORPORATION: INDIA, AUSTRALIA & CHENA
Authorised Capital
Sterling .......£ 6,500,000
Hong Kong Currency
Bracare
£3,000,000 | £3,000,000
$50,000,000
Incorporabil by Bejsi Charter, 1853
Issoad and Pulty.Paid-up - 20,000,000 | Reserve Funds.-
HEAD OFFICE: LONDON
Paid-up Capital
$10,000,000
Reserve Fund
Reserve. Elability of Pro-
prietok
00,000
Reserve Liability of Pro-
prietors
£3,000,000
For Mag
Zook
Bangkok
Katachi
Deli
Kang
Boday
Jumbe
Calestra
Jak Lampar
Canton
Enching
EXIS 'OFFICE: HONG XONG.
BOARD OF DIRECTORS.
Hon. Mr. 1.-J. Paterson. Chairman.
G. Miskin Esq. Deputy Chairman.
A. H. Compton, Esq.,
Hon. Mr. S. H. Dodwell,
H. T. Johnson, Esq→ 1. E. Masson, Esq.
K. S. Morrison, Esq T. E Pearce, Esq. A. L. Shields, Esqu V. M. Grybwa, Esq.
Chief Masses.
ANOX BANGKOK
CALCUTT
CANTON CHEFOO
DAILES POOCHOW RAYHONG
SAMBUNG HANTOW
HARRIK
17000
POB
BEANCHIS
LONDON LIONS
MALACCA
MAXI
MULE (Jober
NEW YORK
PEIFING
PENANG
RLSGOOK
SAIGON
SAN FRANCISCO
SOCEARLY
Agencies and Branches:
Cawapre
Cabu
Coombe DAN
Madr
Fmping
Boos Haagon Duniarang Serambin Shanghai
Са SAZƏRBA Sourabaya Taiping
·Tangkak
(Basket)
Madam
New York
Haiphong
Bamberg
Poking)
- Tuingrac
Barbiy
Bang Long
Tenang
Ypkoorume
Zamboanga
Torup Exchange and Growal Banking basin
transected.
Carret code opwood and Fixed Deponie which will be caused in appäcatốt.
COMMERCIAL
THE CH
GERMAN TRADE IN 1936
BIG FAVOURABLE BALANCE
FOREIGN DEBTS
PAYMENTS ·
Berlin, To-day. Despite the series of crises and upheavals that have prov-į ed so disturbing to German, foreign trade during 1936. - the most serious being perhaps| the mexpected abandonmentį of the gold standard in Sep
JANJARY 21, 1937
LOCAL DOLLAR
STEADY
LOCAL SHARE MARKET
·Silver Prices Steadier The following was the Hat of local share quotations Issued
The local dollar is steady, open-to-day. ing on demand to-day at 1/29%
"Spot" zilver rose 1/16 20 while “Howard""" was up 1/16 to 20%
The London on New York cross rate was quoted at S-US$4.90%, while the New York on London cross-rate was quoted at $- U.S.$4.90-15/16.
ERRATIC RUBBER
MARKET
Several factors have contributed tember by the particular to the erratic rabber market in countries with which Germany Singapore recently. had their largest positive trade
Contradictory reports have been balance the figures for for received from America regarding revered for one year a shorter periode a rateign trade during December the development of the strike, and The Bank's Kind 05c in Zadom dark and a summary for 1936, as a the decision of the Malayan Gor- Factor and Truse busi and clash whole, show a remarkable im-ernments, last week, rejecting the berce whics may be mouseized as any at a{provement all along the line.
covery of Scitisk Inverse Tax orupsið, en
¡Agencies sɔd Drobes
A. BREARLEY,
Manager. Hong Kong, 1st January, 1935.
International Rubber Regulation
In December, Germany imported Committee's suggestion to issue goods aggregating in value some export licences for a period of six months has not been well received 367,000,00 reichsmarks, but the ac-
by dealers. tual increase in the quantity' was THE CHINA & SOUTH SEA BANK, somewhat less because
SHANGHAI
SINGAPORE
HONGKET
"BUNGE PAZANI
Capital Reserve
JOHOR
KOWLOOK
KUALA LUMPUE
Curmi akt opened
ZULTO
TRINGTAO
YOKOHAMA
LIMITED
(Incorporated in China) Head Office-Shanghai
$7,500,000,00 $1,500,000.00
Love Corsary sad Branches -- All Important Cities
Foreign Exchange and General Banking Boxins
Plan Deposita zmotivć for was your at shorter periods in Local Carpety and Serling on surme which was spacial an application
1750 x 10 ** LATE DEPOSIT BOXES in
VIDEO CLIM TO L
Hong Kong, 4th February, 1935.
HONG KONG SAVINGS BANK
The Bunlarm of the shores Bank in ondankoč
HONG KONG AND SHANGHAI BAX NO CORPORATION, Baden, may be mad
De appNCE.
FOR THE HONG KONG AND BRANGKAI BANKING CORPORATION.
Y. M GRATBURN,
Chan Mangue.
Bong Kong, 24th February, 1936.
THE BANK OF EAST ASIA, LTD.
Lolionwed. Capital Pandup Capu kaž
$15,000,000,00
Best and Cadivided Prodie 16,306.5
HEAD OFFICE-HONG KONG. 30 Dr, Vaux Boud, Central BOARD OF DIRECTORS:--
B. Bu Blog Chow, Charman; Low Chin, E. P. Kwok, Leg Foo YAN Trug, Lady Cane Caling. Shek Elem Tiny Log Food Cry son, Esq. and Kam Zing Po, Eng
Lan Tung Po. Zeq Chiet Magar.
Là The Fong. Eng. Maangic.
BRANCHES AND AGENCIES:
Mandin
Maibourne
Andy
Belavie
Bombay
Calcute Camion Haiphong
New York
Para
Kookait
Robe
Kamion Looden
Quia
Paping
Pang
Bagnon
Saigon
De Iait
Z
Semarang
Накраме
Tokyo Yanporar
Chime
westbed.
Carest and Saving atments opened and and Depowe Monivad Eer or shores para
as taken which will be qucted on appliesáco.
SOC Z. CHANG,
- HONG KONG BRANCH:
De You Bad, Central.
Macapar's Office
Forge Exchange Drople
Gepard Office
Caller's Ordos s
Banget.
F. 13565 256
000
THE WING ON BANK, LTD.
Head Office: Hong Kong
24
The price keeps up fairly well during in New York and some sections of December foodstuffs and raw this market suggest that the New material prices underwent an in-York market does not anticipate any serious falling-off in the de- Exports increased, however, from mand for rubber. 422,000,000 reichsmarks in Novem-
London Decline
crease.
ber to 457,000,00 reichsmarks in The London price has declined December, an increase of Rms, 35,- slightly and the Singapore mærket. 000,000, but quantitatively the in- does not seem to be altogether car-
crease was greater since the ex- taim” which lead to follow this port prices in Reichsmarks have morning.
tended to be lower since Septem- The decision of the Government ber owing to the currency devalua- regarding export licences has been accorded a mired reception. There tion in gold bloc countries.
Substantial Improvement are those who feel that the object Germany's surplus of exports) of the suggestion for this pro- was cedure was a desire to bring the over imports in December, Rms. 90,000,000 as against Rms. maximum amount of rubber on the 66,000,000 in November, 1936, and market at the earliest possible mo only Rms. 43,000,000 in December, ment. They are inclined to be 1935, that is to sax, a very sub-lieve that the possible disorgani- stantial increase.
sation of labour which has been The most gratifying feature is spoken of, has been exaggerated. I that the increase in exports is
Producers' Attitude chiefly due
industrial
HK Bank $1870 b. $1890 132 HK (Lon. Reg.) £116 b Chartered Bank £16 n.. Hercantile Bank A. and E
$21
Mercantile Bank C. £141⁄2 1
Bank of East Asia $85 71.
Insurances
Canton Ins. $305 b. *Union Ina. $620 b.
China Underwriters $1. n. EE Fire Ins. $300 n. International Assce. Sh. $33⁄4 ¤-
Shipping
Douglases $30 12
HK Steamboats $7.40 m Indo-Chines (Prof.) $35 1 Indo-Chinas (Def.) $36 n. Shells (Bearer) 133/9 n. Union Waterboats $1014 1.
Docks, etc.
HK and K. Wharves $106 b.
$1:07 52.
HK. and W. Docks $144 b. Providents (Old) #160 n. Providents (New) 20 cts. n. New Engineering Sh.$4 n. Shanghai Docks Sh.$90 m.
Mining
Kailan Mining Ad. 16/3 a
I. Div.
Ranks $1285 1.
Vénz. Goldfield $8 -
Lands, Hotels, etc.
HK. and S. Hotels $5.70 51. HK. Landr $34% ¤.
EK. 4% Debentures $105 1 Shanghai Lands Sh.#16 n. Metropolitan Lands Sh. $10 n Humphreys $9.40 b HK Realties $460, n. Chinese Estates 376 1. China Realties Sh.$4 m. China Debentures Sh.$60. m
PHILIPPINE MINING
tempting to safeguard their own Big WOTE
Coco
26, Des Voeur Road, Central Authorised Capital $10,000,000
Antamoks Atoks LONDON BANKERS--
Baguio Gold Westminster Bank, Ltd.
to greater sales The attitude of the producers, Balatoe Mining which or at least the plantation section of Benguet Consol products Foreign Exchange and every des-in |cription of banking business transact-accounted for Rims 17,000,000 them, cannot be blamed for at Benguet Explor
ed.
Current Accounts and Savings Ac. of the total increase.
Total exports in 1983 were vain-interests; but the decision has Consolidated Mines counts opened Fixed Deposits re- ceived at rates which will be quoted ed at 4,649,000,000 reichsmarks, sulted in a considerable amount Demonstrations
in 1934 at 4,017,000,000 reichs of speculation and a great deal of E. Mindanao on application..
Gumaus G'feld Trusteeship & Executorship andermarks, in 1935, at 4,174,000,000 uncertainty.
Gold intimately acquainted Po Goi taken. Safe Deposit Boxes for hire.reichsmarics and in 1936, 4,681,- Others
PHILIP GOCKCHIN,
0000,000 reichsmarks, that is to say with the conditions of the market, Itogons Chief Manager.
an increase of exports in 1936 over apart from the interests of pro- Masbate Consel
ducers alone, are emphatic that Min. Resources 1935 of Rs. 507,000,000.
The fluctuation of imports over the suggestion was a wise one and the last four years was: in 1933, would have resulted in a calmer Rs.1,204,000,000 in 1934 atmosphere in both sections of the
iz 1935 market. Rms4451,000.000
THE MERCANTILE BANK OF
INDIA, LTD.
TEAD OFFICE:
15. Gracechach Ekart, London, Z.LA. ·
„£3,000,000 | Rams.4,159,000,000 and in 1936 Authorised Capital
1,860,000 Subscribed Capital Yokabetan
Rms. 4,218,000,000, the increase in 1,050,000 Paid-up Capital
the latter year being mainly due) Reserve Fund & Rest.. 1,247,830
to a rise in prices. BAXTERS:
Every desciption of Boulding, and Exchange buminem menstad. Lowe granted on approved
CATORE Accounie opened in Lost Curry and Pad Deposite received for shorter perioda," za Lasal mad Formiga Caracoles male which will be quoted on application.
Bata Depones Boxes To Lee
XAN TUNG FO
Chiel Kunnger.
THE YOKOHAMA SPECIE BANK
LIMITED
Established 1880
Capital (fully paid-up) Yen 100,000,000 Reserve Fund Ten 130,900,000
Head Office: YOKOHAMA
Branches and Agencies st
Alexandria
Bangkok
Batavia
Berlin
Bombay
Calcutta
Canton
Dairen (Dainy)
Bankow
Moji Nagasaki
Nagoya New York
Osaka
The Bank of Enginoć & Midland Bank, Ltd.
Ipoh
Kandy
Xamchi For Bharu Kuia Lipu
New York PROLEX
Fort Louis (Mauritian) Kaupros Shanghai
Bangkok
Catha
Calamba Dail
Galle
Losi Lempar
Hang Long
How A
Xoansen (Fabang} Madras.
Singapore Simple
HONG KONG BRANCH.
business. śrutched.
Tavaliers Chegum imrană.
Trusts and Exoskeskipe undertakes.
Yearly Surpluses
MANCHUKUO TIME
Parscale Gumaus Salacot Mining
San Mauricio Sayoc Consol United Paracales
Closing
Rates Sales 10 am. Local
in Pesos Currency
1.80 2.97
56
831
1.55 Public Utilities H.K. Tramways $12.60 så. Peak Trams (old) $574_n. Peak Trams (new) $23⁄4 D. Star Ferries $93 n. Yaumati Ferries $25 n. China Lights (Old) $13.60 b.
$131.65 33.
CANADIAN PACIFIC
WORLD'S GREATEST TRAVEL · SYSTEM
EMPRESS of JAPAN
EMPRESS of ASIA.
EMPRESS OF CANADA. EMPRESS & RUSSIA Maintain * regular service to Vancouver Empress of Japan and Empress of Canada, wall vi Honolulu and Engress of Asia and Expren of Russia via the direct, express, route.
*
Air Conditioned sleeping cars and observation? cur on all Trans-Continental Traïna.
COOL
QUIET
COMFORTABLE
Air is cleaned, dehumidified, constantly freshened and kept at a uniform temperatura.
EMPRESS OF CANADA
SAILS FOR VANCOUVER via SHANGHAI JAPAN
✯ HONOLULU AT NOON
TUESDAY, JANUARY 26th.
For Information Apply To Your Own Agent Or
Canadian Pacific
SPANI THE WOELI →→
*Tel. 20752
New York Share Market
Mesurs. White, Weld & Com-COMMODITY PRICES pany, New York Correspondents
for Mears. S. E. Levy & Com The following quotations have pany, report:mi
2s yet has no factual basis, that October
sources however feel the possibility Spot
of a near-turn recession. The two New York Rubber: outstanding features in oil news March
are, on the one hand rumours of
a possibility of a near-term price July
been received by Bentar:
Prev. Yesterday.
Stocks: There is nothing new in 72/19 ||rails regarding, rate revision or
Closing Closing
.381/
30
180
wave raises. Recently, there has New York Cotton been much uninformed buying of March 12.48
May utilities based on a feeling, which
July
12.45
12.29 12.35
1228
11.82
Northern Mining
the Goverment is inclined to be
2014
December
89 .074
more. lenient, better informed
... 1192
11.81
January
1188........ 1179z
13.08
13.04
3.40
21.50 29.7€
May
21.43a
20.70
21.27
20.61
stocks; we continue to like the July long-term outlook.
rise and, on the other hand the September fear that a prolonged strike will December temporarily weaken the statistical Chicago Whest: position by building up gasoline May
21.171
20.632
21.10
20.571
132%
130%
1154
We
believe September
152
109%
that coppers are nearing the end Chicago Com: of their technical recession and we May
109%
107%
also like the long-term outlook here July
104%
103%
as well as in lead in view of the September
103%
.101
continued good statistical position Chicago Corn:
generally. Political uncertainties
New
New
in utilities, the labour and rate
Contracta Contracts
situation in rails and the strike
Opening Closing
main sources at present from which July
situation in motors are the three May
112
110%
107% 105%
n.
124%
12244
120%
118
11044
* 108
Clocks throughout Manchu kuo were put forward perman- hour at 11 p.m. 00 Summarising these figures, Ger-ently one
This changet many's foreign trade over the last December 31. four years showed in 1933 an ex-synchronises Manchukuo time cess of exports of Ems. 445,000,000, with Japanese and Korean in 1934 an excess of imports of time and puts it one hour in Rs. 434,000,000; in 1935 an ex-advance of standard time in Railway and air ser- cess of exports of Rma. 15,000,000 China.
so that they are
Every Seription of Beating, and Escher and in 1936 an excess of exports vice times have been put one
of Rs. 463,000,000 that is to say, hour later INTEREST allowed on Current 40cc and an immense improvement over the running at the same real time To overcome the Fixed Deposit at Baim that may be ascertained two preceding years and a better as before.
difficulty of dark mornings, status than in 1933.
Unfortunately the excess of im- many offices in Mukden have ports thus created in 1936 could changed to later hours. (Continued at foot of next Col.)]
on application.
B. PEKEDY.
17, Cosec“s_Bowl, Carl
Kong Kong. Nak Joy, 2006.
Paris Peiping
Fengtien (Mukden) Rangoon
Hamburg
Harbia
Bong Kong
Honolulu
Rainking
Karachi
Toba
Rio de Janeiro
San Francised
Seattle
Semarang
Shangha
Singapore
Sotabays
Sydney Tientsin
Tokyo
Taingiau
Interest allowed for Current Ac
counts.
Deposits received for fixed periods at rates to be obtained on applica- tions.
Hong Kong, 13th November, 1936.
AMERICAN EXPRESS
London
Mania
Los Asigeles
THE
Yingkow
T. KANO,
Manager.
SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China)
Capital
paid
Reserved:
3.000.000. „$7,500.009.
Capital Savings Dept. $500,000. Reserve Barings-Dept $500,000.
Travelers Letters of Credit
For the use of travelers on vasation or business trips throughout the world.
THE AMERICAN EXPRESS CO, INC.
Incorporated with Limited Liability in USA. 4. Des Voeux Road, Central
General
eign
Agents for
NEW YORK
(ENTRAL
SYSTEM
U. S. ENVOY IN MOSCOW
Moscow,
new To-day-The United States envoy - to the USSR, Mr. Davis, arrived here: yesterday.-Trans-Ocean
not be utilised for increasing im- ports of food and raw materials as the funds were required large- ly for the settlement of arrears in Germany's foreign debt service.-- Trans-Ocean.
Slightly Different Figures
Berlin, Today, Germany's foreign trade in 1936. ended with a surplus of Rs.550,- |000,000 of exports over-importa,
which is five times the favourable balance of 1935. Exports increas- ed by Rs.500,000,000 to Ezis,4,- 268,000,000, and exports by Ems 60.000,000 to 1228.000.000
The fact that the exports; did not occasion a corresponding in- crease in imports is taken to indi- cate that the higher export", TG- ceipts were used for paying "off debts and meeting other foreign jobligations (rather than for the purchase of more raw materials.
December Sports at Raze 367,- 000,000 represented
000,000 over November, chiefly
C. Lights (New) $10.30 n.. H.K. Electrics $55/56 sa. Macao Electrics $20 n. Sandakan Lights $10 n. Telephones (Old) $3014 n Telephones (New) $10 a China Buses Sh.$111⁄4 n. Singapore Tractions 277- n. Singapore Prel 27/-- 1.
Industrials
Cald, Macg. (Ord.) Sh $191⁄2
Cald., Macz. (Pref.) Sh.$15 z.
Canton Ices $2.05 n.
Cements $11.
ELK. Ropes 121⁄2 Da
Stores, etc.
Dairy Farms $2234 n. Watsons $41⁄2 1 Lane, Crawfords $63⁄41⁄2
Sinceres $21⁄2 The
Wing On (HK) $50 n.
Cotton Mills
The
any significant market news is to Winnipeg Wheat:
be expected. We would, accord-May ingly, be inclined to defer pur July chases to set-backs.
Business done: 2,620,000 shared.
October
$50,000,000 LOAN FOR RAILWAY Agreement With Belgian Company
Rubber: The Trade is appre bensive of the possible spreading of the motor strikes. It is, m- derstood that some holders are eas- ing their near-by positions and only partly re-buying in distants. We believe that speculative com- modities are not seriously bought, but are at present finding agreement with foreign interests, Shanghai Cotton (New) Sh$60 difficulties in absorbing the sharp it is announced from Nanking.
increase in proft-taking. Better The other party to the agree
reasonably ment is a Belgian concern, the buying levels
+
Ewo Cotton Sh$151⁄21⁄2 b. Shanghai Cotton (Old) Sh.$35
b.
b.
Zoong Sings Sh.$31 n. Wing" On Textiles Sh. $44 be
Miscellaneous“ Entertainments $43⁄41⁄2 n. Constructions (Old) $1% 2 „Constructions (New) 421⁄2 cts.
thế hệ
Ihro Filing $61⁄2 1-
Ca. Gort. 5% 1925 G.JBML.
38%.11.
HK. Gort, 4% Loan 8% pre
b.
The Ministry. of Railways has over-concluded another large
TIN PRICES IN-
EUROPE
a
Compagnie Generale de Chen de- Fer et de Tramways en Chine, which is lending 450,000,000 Bal gian france ($50,000,000) in the form of railway materials for the jextension of the Langhai radway : by about 600, ilometres from Paochi, in Shensf, the present ter Amsterdam, To-day. minna, to Chengtu, in Szechuan. The tin market at the moment The loss is redeemable in seven continues to be steady and well-years and bears annual interest at informed circles scarcely consider the rate of six per cent. urt the post lity that autocon Payments in connection with the siderable op in the price will
loan are guaranteed by the Minis» try of Hallways and an fzuportent Any change is more likely to be Chinese binl: They will be a first- in the opposite direction in charge on the net revenue of the general, however, experts in the new line, and will also be charged tin trade count on 1987 as being against the revenue of the Lan a year of resumably - steady hai and Pientó Falways, Prices.
*** immediately after the bondi Considering the way prices of lens. These, zažłways 35 Down 1 35% Down 1 other non-ferrous metals have financed by the Belgian 35% Down 1 advanced in the last ew months. The Langhai rai 35% Down the present tin price is regarded vice committee held Arregular Fluctua as by no means mnduly high meeting in Nanking
13.
#K. Govt 34% Loan 3% b. Wallace Harpers $4/n.
SINGAPORE RAW RUBBER Meurs IL-B. oneph & Co. due to higher imports of wool and ceived the following quotations rubber. More mest less coffee, from Singapore in Straits Car- Jess butter and tobaccoy were in- rency for. Raw Eubbers ported, but there were morazziell seeds and jute from India and Spot more wool from South Afric
Kark Exports in December totalled Apr.June *Rama 457,000,000 which was Bok-Jaly/Sept... 30,000,000 more then in Novem-Market:
ting
Buyers."
Trans-Ocea