THE CHINA MAIL, MAY 13, 1987.
WORLD TRADE RECOVERY
SURVEY BY LABOUR OFFICE CHIEF
1929 OUTPUT PASSED
towards
MIXED FUEL FOR LINERS
COAL-OIL PROJECT
PROGRESS
Interest has been aroused by a refer- ence in the annual report for 1936 of the Cunard Steam Ship Co. Ltd. to the discussions with commercial interests im-with which the company has been as-
sociated in its coal-oil project.
A general tendency. provement in world trade, employment and production is indicated in the 1937 report of Mr. Harold Butler, Director of the League of Nations International Labour Office.
It is added that definite progress has been made.
BANKS
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA
Incorporated by Royal Charter, 1855. HEAD OFFICE: LONDON
Paid-up Capital Reserve Fund.. Reserve Liability of Pro-
prietora
$3,000,000 £3,000,000
£8,000,000
Agencies and Branches:
Alor Star
Amritsar
1
Iloilo Ipah
Hapgoon
Saigon
was
Bangkok
Karachi
Samarang
Batavia
Klang
Beremban
Bombay
Fobe
Shangha
Calcutta
Kuala Lumpur
Canton Cawnpore Cebu Colombo
Kuching
Singapore
Sitiawan
Madres
Manila
Medin
New York
Pelping
(Peking)
Fonsag
These discussions may herald the in- Mr. Butler makes
creasing use in Cunard ships of the a survey of economic and industrial
so-called "colloidal" fuel which tendencies throughout the world in 1936...
tried experimentally in the liner Scythia Hein 1932. asserts that a large measure of re- covery has already been accomplish-with the oil fuel normally consumed It is a blend of finely pulverised coal under marine oil-fired boilers, the pro- portions of oil and coal being in the ratio of six to four. In other words, in every 100 tons of fuel consumed,
ed.
"In some countries," he writes,
*"it is in full swing, while in others it is only just becoming perceptible, but. looking at the world as a whole, the presence of a general advance is cer tain.
"But, although great progress been made in the last 12 months, no one feels sure that stability or equili- brium has really been attained. At most what has been achieved up to date is to set the economic machine *again in motion after a serious break- *.. down."*
Production and Unemployment
40 tons of coal is used.
Dalbi Haiphong Hamburg Hankow Harbin Hong Kong
Sourabaya Taiping Tiontain
(Bhuket) Tsingtao Yokohama Zamboangs
Foreign Exchange and General Banking business
Current Accounts opened and Fixed Deposit I
Owing no doubt to the commercial possibilities involved, reticence has been transated. has
the use of the fuel. It is understood, observed about later developments in however, that it has been supplied in considerable quantities to other vessels hitherto only in an auxiliary capacity. controlled by Cunard
Co.,
although All reports available indicate that this brand of colloidal fuel has proved satisfactory.
oil
It is appreciably cheaper than only, and as the Cunard Co. consumes The report contains charts of pro-well over 1,000,000 tons of oil a year duction and unemployment showing the substitution of coal to the extent that production has now surpassed the of 40 per cent. would represent a big 1929 level in Chile, Denmark, Estonia, economy in running costs. Finland, Germany, Great Greece, Hungary, Japan, Norway, Sweden and Russia.
Britain,
There has been marked improvement in Canada the United States, and some improve- ment in Austria, Belgium, Czechoslo-| vakia and Poland.
and
Big Profits From The Queen Mary
8
which will be quoted an application. received for one year or shorter periods at rates The Bank's Head Office in London undertakes Erocutor and Trustee business,
and claima of Britlab Income Tax overpaid, on recovery terms which may be ascertained at any of its Agencies and Branches.
R. W. ROBERTS,
Manager. Hong Kong, 1st January, 1985.
THE BANK OF EAST ASIA, LTD.
Authorised Capital Paid-up Capital Reserve and
Profits
Ampy
...$10,000,000.00*
$ 5,698,600.00
Undivided.
.:$ 2,776,726.76-
HEAD OFFICE:-HONG KONG. 10, Dee Voux Boad. Central.
BOARD OF DIRECTORS:-
Kan Tung Po, Esq., Chief Manager. Li Tea Fong, Esq., Manager.
BRANCHES AND AGENCIES ---
The only countries publishing gen- eral indices which showed continued stagnation - until last October
The report and accounts of Cunard- France and
were White Star Ltd. for 1936 show a not Hon. Sir Shou-son Chow, Chairman; Li Koon the Netherlands, since that date in both there are signs loss of £61,769 in 1935.
but profit of £546,659, compared with
Chun,
Esq.
P E. Kwok, Esq., of "nascent recovery."
Tong.
Feq., Chan Ching 8hek, Esq., Li Lan Wong Yun In a reference to unemployment Mr. from the Queen Mary,
The 1936 profit includes
Sang, Esq. Wong Chu Son, Esq. and Kan Ying earnings Fo, "Esq., Butler says: "In a few countries, not-menced her maiden voyage on
Fung Ping Wah, Esq. which com. ably Germany, Great Britain, Japan 27. The report states that "the im- May and Sweden, more people were at work at the end of last year than at the rovement in Atlantic, pasenger traffic peak in 1929. But an examination of the company secured its share of the continued steadily during 1936, and the unemployment returns shows that increased movement, being helped by on the whole unemployment has declined to the extent which the re- has fully justified all expectations, and not the advent of the Queen Mary, which covery of production might be
ex-has proved very popular with the tra
velling public.”
The company's total receipts from London pasage money, freights.
and
other sources was over £900,000 higher than rose by only £308,000 to £6,292,897. in 1935, at £6,881,318, while expenses
pected to indicate.
More Workers
of
"The persistence of large pools unemployment may be due in part to structural changes, as, for the gradual decline of some industries the profit and loss balance of £76,799,
example,
No charge is made for depreciation, such as coal-mining, owing to the spread of rival fuels, in part to the after deducting the previous year's rapidity of technological progress, and
loss, being carried forward. in part to the slow restoration of in- ternational trade. It has also to be recollected that the working popula- tion is everywhere larger than seven Netherlands, where the economic years ago.
renaissance may be expected to show "But in spite of such influence tend-a reduction in the near future." ing to maintain unemployment at
Mr. Butler adds that the curve of higher level than might have been ex-international trade has crept up a lit- pected, a comparison between the posi-tle since last year, but the improve- tion at the end of 1986 and that at the ment was hardly perceptible until the end of 1934 shows that unemployment last months of 1936. He strikes a had very “substantially diminished în more sombre note in a referénce to re-
every country, except France and the armament:
K. M. A.
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Authorised Cupital- Issued and Fully Paid-up Reserve Funds:
Sterling
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£2,500,000
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HEAD OFFICE: HONG KONG. BOARD OF DIRECTORS.
G. Miskin, Esq.,
Chaitian
Hon. Mr. M. T. Johnson,
Deputy Chairman.
J. K. Bousfield, Esq., "A. 11. Compton, Esq.,
S. H. Dodaci, Esq. J. B. Masson, Esq.,
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Sir V. M. Grayburn, Chief Manager.
AMOY BANGKOK BATAVIA BOMBAY CALCUTTA
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IPOH JOHOBE KOBE
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ALSO up to date SAFE DEPOSIT BOXES L various sizes TO LET.
Hong Kong, 1st March, 1987.
HONG KONG SAVINGS BANK
The Business of the above Bank is conducted by the HONG KONG AND SHANGHAI BANK- ING CORFORATION. on application,
Bules may be obtained FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.
V. M. GRAYBURN,
Chief Manager.
Hong Kong lat March, 1987.
THE YOKOHAMA SPECIE BANK
LIMITED
Established 1880.
Capital (fully paid-up) Yen.100,000,000 Reserve Fund
Yen 132,650,000
Head Office; YOKOHAMA
Branches and Agencies at
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Chief Manager.
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THE WING ON BANK, LTD.
Head Office: Hong Kong. 36, Des Voeux Road, Central. Authorised Capital $10,000,000 LONDON BANKERS:— Westminster Bank, Ltd. ̈ Foreign Exchange and every des- cription of banking business transact- ed.
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