THE CHINA MAIL, DECEMBER 4,
STEEL PRICES STABILISED FOR A YEAR
IMPORTANT STEP BY PRODUCERS TO END UNCERTAINTY
A step which should give a fur-secured by co-operation with ther stimulus to trade activity in interests involved. Britain has been announced by steel! producers.
BANKS
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA
Incorpora
HEAD OFFICE. LONDON
38, Bishopsgate, Paid-up Capital
the Reserve Fund -
Reserve Liability of Proprie
tors
RISE OF 30 PER CENT. During the past 18 months steel Prices of steel, the principal raw prices have risen by approximately material of most of the country's 30 per cent. The first increase was fannounced in May, 1936, and chief industries, are to be stabilised
amounted to 10 per cent, until the end of 1938.1
On May 1 of this year prices of the all main steel products were advanc raw ed, with the approval of the Import Advisory Committee, by ¡Duties
sums ranging from 17 to 25 per cent.
This action has been taken in face of a steady increase in costs of the steel trade's own materials and despite a growing, de- mand for its products.
:
un-
Current prices, which were fixed on May 1, were due to continue un- til December 31.
Thousands of manufacturers will now be safeguarded against expected increases in the cost their material for at least one year, and will be free to fix contracts without fear of loss owing to rising prices
»
of
means
པདྨེ;
This advance in steel prices, how- ever, compared with an increase of 80 per cent. since 1932 in the prices of the main raw materials.
The cost of coke has risen to more than double its 1932 level. Since April of this year, the price has in- creased from £1 11s 6d a ton 11 16s 6d
to
Ore freights are nearly two and
£3,000,000
BANKS
HONG KONG AND SHANGHAI BANKING CORPORATION
Authorised Capital
Issued and Fully Pa Reserve Funds:
Sterling:
Hong Kong Currence 6,500
Reserve
£3,000,000. £3,000,000 Reserve Liability of Proprie
tors
Manchester Branch, 71, Mosley Street, Manchester. Agencies and Branches-
Alor Star
clo
Fangoon
Saigon
Samarang
Amritsar
Bangkok
Batavia
Bombay
Hang Koba
·Seremban
Shanghai
Calcutta
*Kuala Lumpur
Canton Cawnpore
ching
Madras
Sourabaya
Cebu
Mamika
Taiping
Colombo
Medam
New York.
Tongkah
2. Paiping
Hamburg Hankow Bachin
(Peking)
Fenang
DENT Loug
F04%
Bouken Tsingtao Jakobama
Zamboanga
Foreign Exchange and General Banking business transacted.
Currant Account opened and Fixed DeposiZE. received for one year or shorter periods at rates
which will be quoted on applicati demakes
claims
010
The Bank's Head 0ños in London
and business, Trustee Executor and recovery of British Income Tax overpaid,
which may be ascertained st. any of ita Agencies and Branches
texts
$20,000,000
-HEAD- OFFICE: HONG KONG.
BOARD OF DIRECTOR
G. Miskin, Esq Chairman.
Hon. Mr. M. T. Johnson,
Deputy Chairman sam
JE. BauxSeld, Esq. A. H. Compico, Esq., S. EL Dodwell, Esq., JB. Masson, Eaque
E. S. Morrison, Esq., Hon. Mr. J. J. Paterson, T. El Pearce, Esq., AL. Shields, Esqui
-Sir Vandeleur M. GraybuCD,
Chief Manager.
AMOY
BATAY
BANGKOK
TTA
MBAT
БОМ
CALCUTT CANT CHEFOO COLOMBO COLO
FOR HONG
R. W. ROBERTS,
Manager.
Hong Kong, 1st January, 19352-
HAMBURG HANKOW HARELY HONGSEW
ILOILO
JOHORE
KORE
COST OF REARMAMENT
a half times higher than they were THE BANK OF EAST ASIA, LTD. $10,000,000.00 In addition, the decision that the main factor in the cost of in 1932, a further increase having Anthorised Capital
Undivided taken place in the last eight months Faid-up Capital the rearmament programme will be unchanged. It is calculated that 20 of 6s a ton.
per cent. of Britain's steel produc tion is being absorbed by the de-
fence contracts.
Among the chief industries which will be affected are:
Motor and Aircraft Manufac-
turers,
Constructional Engineers, Railway Companies, and
*}
CHRISTIAN SCIENCE
SERMON
Subject: God The Only Cause And Creator
The subject of the lesson sermon în all churches of Christ, Scientist to-mor- row, December 5th will be "God the only cause and creator.”
Shipbuilders and Repairers- All these industries are now ab-
The Golden Text will be: "The hea- sorbing as much steel as they can
vens declare the glory of God; and the obtain. The total consumption is firmament sheweth his handywork. approximately 1,000,000 tons of steel There is no speech nor language, where their voice is not heard." (Psalms 19: a month.
1, 3).
+)
-According to reliable estimates,
Among other the following citations this will be read from the Bible. Ther the total steel production in country will reach a record figure spoke Jesus again unto them, saying, I am the light of the world: he that of 13,250,000 tons for this year, followeth me shall not walk in dark- and may rise to 13,750,000 tons in ness, but shall have the light of life. 1938.
DEMAND MAINTAINED. The full announcement, which is published by the British Iron and Steel Federation, is:
me.
The Pharisees therefore said unto him. Thou bearest record of thyself; thy re- cord is not true. Jesus answered and said unto them, Though I bear record of myself, yet my record is true: for I know whence I came, and whither I go: but ye cannot tell whence I come and "Following a decision of the Basic whither I go. Ye judge after the flesh: Pig Iron Producers' Association to I judge no man. And yet if I judge, maintain present prices until June my judgement is true: for I am not alone but I and the Father that sent As- 30, 1938, the following Steel
Then said they unto him, Where sociations, covering the main basic is thy Father? Jesus answered, Ye steel products, have decided, in con-neither know me, nor my Father: if ye formity with a recommendation of had known me, ye should have known my Father also. (John 8: 12-16, 19)- the British Iron and Steel Federa-And call no man your father upon the of earth: for one is your Father, which is tion and with the concurrence
The lesson sermon will also include the Import Duties Advisory Com-in heaven. (Matt. 23: 9).* mittee, to maintain their prices at the following passages from the Chris- the present level until the end of tian Science Textbook, "Science and 1938, subject to the proviso in all Health with Key to the Scriptures" by Mary Baker Eddy: "Jesus acknowledg- sales and contracts that deliveries ed no ties of the Aesh. He said: “Call after December 31, 1938, will be at no man your father upon the earth: for one is your Father, which is in hea- Association prices then ruling.
ven." Again he asked: Who is my mother and who are my brethern," im- plying that it is they who do the will of his Father. We have no record of his calling any man by the name of father. He recognised Spirit, God, as the only creator, and therefore as the Father of all The lines of demarca- tion between immortal man, represent ing Spirit, and mortal man, represent- Stamping the error that life and intelligence are in matter, show the pleasures, and ing Billet.
pains of matter to be myths, and hú- Sheet Bar Associatio
"In spite of recent world disturb man belief in them to be the father of mythology in which matter is repre ances there is no abatement of the sented as divided into intelligent gods. demand for steel products in this Man's genuine selfhood is recognisable
neither self-made nor made by country, and in taking this course only in what is good and true. Man is
The Associations concerned are: Scottish Steel Makers. Midland and Welsh Steel Makers. British Joist Makers.
Soft Basic Billet.
Basic Special Steel Bilet. Free Cutting Steel Billet. Forging, Drop Forging and
als.
and still God created man. In Science man is
the offspring of: Spirit.
in the face of increased increasing costs of raw the iron and steel industry tuated by the desire to the prolongation's of trade activity that sor
The bur
and pure, constitute His origin is not, like that
Abrute
does
Reserve and
Profits
+
$ 5,598,600.00
2,776,726.76
HEAD OFFICE HONG KON
10, Des Tax Road, Canti BOARD OF DIRECTORS:-
Bor. Sir Shou-son Chow, Chairman; I Koon Chum, Esq. P. E. Kwok, Esq. Wong Yun Tong, Esq. Chan Ching Shek, Esq., Li Lan Sung, Esq., Wong Chu Son, Esq. and Box. Yang
Esq. Fang Ring Wah, Esc
2
Amoy Bateria Bombay Cabesta
Kan Tang Po, Esq., Chief Manager Li Tse. Four, Elce, Manager. BRANCHES AND AGENČIES: Seattie
Canton Haiphons
Maxilla Melbou
Shar
New York
Paris
Paiping
Robe Kowloon London
Bangoon
San Francisco
Tokyo Vancouver Yokohams
Every description of Banking and Exchange business transected. Loans granted on approved securities"
Current Accoumia opened in Tool Currency
HOLL
BRANCHES S
KOWLOON KUALA LUMPUR
LONDON LYONS MATACCA MANILA MUAB (Johor MLADEN
NEW YORK
PENANG PANGOON “SAIGON
SAN FRANCISCO
SHANGHAI SINGAPORE SOURABAYA
SUNGFI PATANT TIENTSEN TOKYO
TSINGTAO TOKOHAMA
Current Accounts opened in Local Currency and Fixed Deposite received (for sons "year" or aborter periods in Local Comancy, and Steeling on serma which will be quoted on application.
ALSO up to date SAFE DEPOSIL BOXES various sizes TO LEL
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 CORPORATION. Bules may be obtained on application
FOR THE HONG KONG AND SHANGĦAT- BANKING CORFORATION.
:
V. M. GRAYBUEN,
Chief Managaz. Eong Kong, 1st March, 1997
THE YOKOHAMA SPECIE BANK
LIMITED
Established 1880
Yen 134,400,00€
and Fixed Deposits received for one year or Capital (fully paid-up) Yen 100,000,000 shorter periods in Local and Foreign Currencies Reserve Fund on terms which will be quoted on application.-
Safe Deposit Boxes To Let -
KAN TUNG PO,
BANKS
Chief Manager.
THE MERCANTILE BANK OF INDIA, LTD.
HEAD OFFICE:
15, Gracechurch Street, London,
Authorised Capital. Subscribed Capital Paid-up Capital Reserve Fund & Rest
BANKERS:
Head Office: YOKOHAMA
Branches and Agencies at
Alexandria
Bangkok Batavia
Berlin
Bombay
Calcutta
Canton
Dairen (Dainy) Fengtien (Mukden)
ECA £3,000,000 Hamburg 1,800,000 Hankow 1,050,000 Harbin 1247,830 Hong Kong
The Bank of England & Midland Bank, Ltd. BRANCHES:
Bangkok Bombay Caloutta Colombe
Galle
Delhi Hong Kong.
Ipah
Kandy
Kota Bhaza
Kuala Lumpur Kaala Trenggami
New York Fezang Port Louis
(Maurikitis)
Rangoon Shanghai
Simila Kuantan (Phang) Singapors Madras
HONG KONG BRANCH. Brary description of Banking and business transacted.
Travellers Chaques
Trustee and Ensentorships undertaken. INTEREST allowed, on Current Astounde" and Fixed Deponis **. Bates that may be ascerta on application.
-D. BENSON,
Cussen & Boad, Central.
THE WING ON BANK LTD.
Head Office Hong Kong. 26, Des Voeur Road Central Authorised Capital $10,000,000
LONDON BANKERS: Westminster Bank
Foreign Exchange ziption of banking busine Current Acc uts ande
rates which
ceived
Trusteeship
Safe Deposit
very des
PHILIP GOCKCHI
bire:
Honolulu Esinking
Karachi
Kobe
London
Manila
Los Angeles
Moji
Nagasaki
Nagoya
New York Osaka
Otara:
Paris Peiping
Rangoon
Rio de Jeneïro San Francis Seattle
Semarang Shanghai
Singapore
Sourabaya
Sydney
Tientsin
Tokyo
Tsingtan
Yingkow
Interest allowed for Current counts.
Deposits received for fired periods
at rates to be obtained on applications.
Y. KANO,
Manager Hong Kong, 11th September, 1937
THE
SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China)
Capital paid up Reserves
Capital Savings Dept. Reserve Savings Dept. Head Office Sha
A Bank having as
industrial devel
the
$5,000,000 $10,000,000.
500,000% $600,000.
sion
Ching and the fostering arrang
ercial relations abroad.
Hon
Long
Queen's Road, Central.
Phone: 31116: