HONGKONG & SHANGHAI
BANKING CORPORATION,
Authorised Capital ...
.$50,000,000
Issuer and Fully Pald-up $20,000,000 Reserve Funds:
Sterling
.£6,500,000
Hong Kong Currency Re-
acrve
.$10,000,000
$20,000,000
prietors
Lord Beaverbrook's ap- Reserve Liability of Pro- peal for aluminium scrap is a direct result of the capitulation of France, the world's largest single producer of bauxite, the raw material of alumini-
HEAD OFFICE: HONG KONG.
BOARD OF DIRECTORSI H. V. Wilkinson, Esq...
Chairmas,
Hon; Mr. J. J. Paterson, Deputy Chairinan.
IN FULL COURT OF APPEAL, composed of Mr. As reflected on the Stock Ex- Justice E. H. Williams and Mr. Justice J. A. D. change in movements of both gilt Fraser, the appeal of Rufus Huang, Wong Sun-yin edged securities and better class equities the confidence of the Bri- and Lee Siong-to against Dr. S. W. Ts'o, Lam Tse- tish people has been unaffacted fung, and Mok Hing-shung asking the Court to re- by events of the past week which have included the intensive bomb-verse an order made by the Chief Justice that first ing of London and developments appellant cease to be a trustee of Munsang College In south-eastern Europe and the
and a member of the College Council, was continued.ium. Far East which, on the, short view, might be regarded as
In 1938 France produced 171⁄2 favourable.
instructed 'Macao loan had been stopped he per cent. of the world's total and G. Misid, Esq., Gilt edged during the week
had to meet the obligation.
this, added to the 25 per cent, al- have registered gains and last
ready produced by Italy, Germany night Old 3% War Loan closed
The new building was complet- and Hungary, gives the Axis Pow- ed and the creditors were press-ers control of more than 4212 per Amoy at 102% while there were rises of 1⁄4 to 1⁄2 points in most of the
ing for payment and he asked for cent. of the world's aluminium Bangkok a solution, "longs."
clay.
un-
The industrial index last week rose to 66.2-a gain of 1.3 points on the preceding week's level. This had its counterpart in the money market, feature of which was the abundance of British Wireless.
Mr. Eldon Potter,
by Mr. E. S. C. Brooks, is for the appellants and the Hon. Mr. Leo d'Almada, instructed by Mr. M. H. Turner, for respondents.
the
Referring to correspondence be- the parties; Mr. Potter tween to-day stated that on November Dr. Ts'o's Letter 9 Dr. Ts'o in a letter to Mr. Huang
On January 12, Dr. Ts'o wrote suggested that he had no right to spend any part of the money that plaintiff had been given the credit. from school fees for payment of right to sign the contract on
of a saving of $4,000 the building contract, "Mr. Potter assurance submitted that his client was en-annually on rent. He was author- titled to do so in view of the factised to raise $20,000 on certain that Dr. Ts'o and Mr. Lam had terms only. When the loan from stopped the supply of money for Macao was
not forthcoming, he the contract,
had no right to raise money else where.
LOCAL SHARES
BANKS
Hong Kong Bank $1215 b.
INSURANCES
Canton Ins. $185 s.
Union Ins. $380 b.
H.K. Fire Ins, $150 s. DOCKS, WHARVES, GODOWNS
ETC.
H.K. Docks (Old) $16% s. Providents $4.40 b.
LANDS, HOTELS & BLDGS.
On November 15, Dr. Ts'o wrote saying that a sub-committee had been appointed to investigate the accounts kept by plaintiff and asking him to hand over all the books since 1930.
On January 24, Mr. Phillips of Kowloon branch Hong Kong Bank wrote to Dr. Ts'o regard- ing the transfer of their account to another bank while there was still an overdraft outstafiding. A reply was later received that
Government Building he promised
had been the grant
ear-marked
This, Mr. Potter said, was an extraordinary request which could not understand, as all
H.K. and S. Hotels $3.30 b., accounts up to and including 1937 against this overdraft.
$3/4/30 sa,
H.K. Lands $30 b.. $304 sa. H.K. Realties $3.40 b.
PUBLIC UTILITIES H.K. Electrics (Old) $361⁄4 sa. H.K. Electrics (New) $35.90 b. Telephones (Old) $23.10 b.,
$234 sa.
sa.
INDUSTRIALS Cements $15 b. H.K. Ropes $5.80 b.
STORES, &C. Dairy Farms $17 b Watsons $8 b.
had been sent to the Council and accepted as correct. In view of
રા
No Council meeting had been the lapse of time, it was possible held for some time and appellant that the books might have been was forced to raise loans to save white-ant eaten and some vouch- the school. ers lost.
+
On March 15, a meeting of the council was called to consider the dismissal of appellant.
J. K. Dousfeld, Eng., A. 11, Comipioa, Bey, Hon. Mr. S. H.
K. 9. Morrison, Esg Hon. Mr.T. E. Pearos, CC. Roberts, Esq., Dodwell, Hon. Mr. A. L,
Shield Sir Vandeleur M. Grayburn, Chief Manager.
BRANCHES:-~
Batavia Bombay
Ipoh Jobore Xabo
Kowloon
Since Jugoslavia's 10 per cent. Calcutta output must also now be regarded Canton as at their disposal, the Axis Pow-Curfoo ers may be said to control half the
Colombo Dairen world's supply.
Foocl.om Haiphops
Harbin
the
Rangoon Balgon
San Franciaco
Shanghal
Kuala Lumpur Singapore London
Lyos.
Bourabaya
Sungul Patan
Bwatow
Maisoes
Manlia
Tientsin
Muse (Johor) Tokyo
Mukden
Now York
Folping Pratu
Tsingtao Yokohama
Current Accounts opened in Local
The only important Empire pro- Haukow ducer of bauxite is British Guiana, with 9 per cent.; but the Dutch Iloilo Empire produces 16 per cent., so that about one quarter of world's output
is under. Allied control. India and British Malaya are also beginning to produce small amounts, and there are un- worked deposits in Nyasaland, Sierra Leone and the Gold Coast.
The domestic production of the United States, 81⁄2 per cent.. is much less than half even of her peace-time requirements. If she is to speed up her munitions output considerable British and Dutch supplies will have to be made available to her. Regarding scrap
Currency and Fixed Deposits received and other currencies on terms which for one year or shorter periods in Looki
will be quoted on application.
ALSO up to date SAFE DEPOSIT BOXES in various sizes TO LET.
Hong Kong. 20th February, 1940,
HONG KONG SAVINGS
BANK.
The Business of the above Bank in conducted by the HONG KONG AND SHANGHAI BANKING CORPORATION. Rules may be obtained on application.
FOR THE HONG KONG
AND
V. M. GRAYBURN,
Chief Manager,
collection, it may be noted that, according to SHANGHAI BANKING CORPORATION. the Census of Production, the out- put of aluminium hollow-ware for sale in this country has averaged in recent years about 3,000 tons. There must, therefore, be many thousands of tons distributed among the kitchens of Great Bri-
HUNT FOR NAZI AGENT
Hong Kong, 1st March, 1037.
THE BANK OF EAST ASIA, LTD.
Authorised Capital Paid-up Capital Reserve and Undivided
Profits
.$10.000.000.0
5,598,600.00.
2.083.261.50
HEAD OFFICE:-HONG KONG 10, Des Voeux Road, Central.
BOARD OF DIRECTORS:-
On January 28, 1940, Mr. Huang Telephones (New) $9.30 b., $94 that the teachers had asked
wrote to Dr. Ts'o informing him
for i the return of loan and some
Plaintiff was a member of the tain. of Council but no their salary and requesting in-meeting was sent to
notice of the structions. The reply received was was given no chance
him. He
of any that Mr. Huang had arranged the loans without the authority of the
explanation. Council and added that the Col-
Points that required answering, lege had sufficient funds to meet said Mr. Potter were: What all legitimate and ordinary ex-justification had Dr. Ts'o in re- penses. Under these circum- fusing the cheque from
A squad of Special Branch de-Hon. Sir Shou-son Chow, Chairman: stances he looked to plaintiff to and
Macao what justification
tectives from Scotland Yard has Li Koon Chun, Esq., P. K. Kwok, Esq.. had
Wong Yun Tong, Esq., Chan Ching make arrangements with the
been detailed to trace the Nazi Shek. Esq., Li Lan Sang, Esq., Wong second defendant to refuse teachers and other creditors.
agent responsible for printing and Chu Son, Esq., Kan Ying Fo, Esq. and put up the loan after pro-
so.? Those
distributing small labels announ- Fung Ping Wah, Esq. two mising to do sums were to be part of the funding the wavelength of the Ger- to be used for the school build-man propaganda station styling it- 200 Telephones (New) @ $914 | the. building contract, authorised ing and on the faith of this plain | Station which is situated in Ger- self the New British Broadcasting to raise a loan and that as the tiff signed the contract.
MISCELLANEOUS Vibro Piling $8 s.
LAST DAY'S SALES
2 H.K. Banks @ $1215
500 Hotels @ $3%
1,000 Hotels @ $3.30
288 Lands @ $30%
100 Lights (New) @ $634
300 Telephones (Old) @ $23% he
100 Electrics (Old) @ $364%
ARE
In reply. Mr. Huang said that had been authorised to sign
ODODOBODOBONOBODODOBOR
YOUR
FOLKS
ABROAD GETTING ALL
THE HONG KONG NEWS?
Try as
you do, you are unable to remember, let alone afford the time to write at such length, all that happens in this colony of ours.. Never mind, for 25 cents each Wednesday, you can send them all the local news in addition to Let us help you to your own letters. keep them fully ported regarding local activities.
"THE OVERLAND
CHINA MAIL"
3 Months
6 Months
One Year
Including Postage
H.K.$. 4.75 H.K.$ 9.50
H.K,$19.00
(The week's local & China news
from "The China Mail" &
"The Hong Kong Sunday Herald ")
Windsor House.
Telephone 20022
□□□□□□□□□□□□□□□□□□
Legal Position
to
Han Tong Po. Esq., Chief Manager. Ii Tae Fong, Esq., Manager.*
BRANCHES AND AGENCIES:—
Manila Molbourne Nagasaki- New York Pariu
Batavia
Caloutta
many. Large quantities of the Amox labels were found in the posses- sion of Fascists recently arrested Bombay What was his legal position under the Defence Regulations. Haiphong under the circumstances and what headquarters in East London re- nolui was he entitled to do?
Did the two defendants in this cently they found a small print-Kowloon case act properly in the interesting press which had been used for London of the trust? Plaintiff was act- printing similar labels. The main ing in accordance with his duties distributing centre is still to as a trustee.
When detectives raided a Fascist | Hankow
Kobe
source
He submitted that the of payment for the building con- tract having been stopped, plain- tiff was entitled to use other money to pay. It was his duty to pay otherwise Mansang Col lege would be smashed and the contractors would sue. Case is proceeding.
"An
CONVERTING "MAJESTIC"
expensive mistake" by the Admiralty, which cost the nation more than £322,000, is criticised in the second report of the Committee of Public Ac- counts.
be
located. Detectives believe that most of the labels were printed before the war.
THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA. Incorporated by Royal Charter, 1853.
Paid-up Capital Reserve Fund Reservo. Liability of Pro-
prietors
£9,000,000 £3,000,000,
£3,000,000
HEAD OFFICE: LONDON: 38, Bishopagato, E.C.2. Sub-Agencies in Londont 117/122, Leadenhall Street, E.C.2. West End Branch: 14/16. Cockapur Street, S.W.I. Manchester Branch:
82, Mosley Street, Manchester, 2.
AGENCIES AND BRANCHES: Alor Star
Penang
Rangoon
Salgon Beremban
The mistake refers to the train- ing ship H.M.S. Caledonia, tor- merly the liner Majestic, 64,000 Amritsar Bangkok tons. When the vessel was bought | Batavia by the Admiralty the cost of Bombay conversion to a training ship was estimated at £150,000. The ac- tual cost turned out to be Fairlie Placa Kuala Lumpur Talplug
Canton £472,056.
Cawnpore
Calcutta
Blungbul
Singapore
Sitiawan
Sourabaya
Hankow
Flurbin
Hong Kong
Ilolla Ipoh
Karachi
Agencies Klang Clive Strook Hobo
Kuching
Tloniala
Madras
Tongkah
Manila
(Phuket)
Medan
Taingtan
Now York
Tokobama
Peiping
(Peking)
Paiping Penang Kangood
Saigon
• Ban Francisco
Bestile
Bemarang
Shaughal
Singapore
Sourabaya Swntow Sydney Tlantzia Vancouver
Every description of Banking and Loans Exchange business transacted. grafted on approved securities.
Current Accounts opened in Local Currency and. Fixed Deposits received for one year or shorter periods in Local and Foreign Currencies on terma which will be quoted on application.
Safe Deposit Boxes To Let.
DAN KAN TONG PO,
Chief Manager,
THE WING ON BANK, LIMITED.
Head Office: Hong Kong. 26, Des Voeux Road, Central. Authorised Capital $10,000.000 LONDON BANKERS:- Westminster Bank, Ltd. Foreign Exchange and every description of banking business transacted.
Current Accounts and Savings Accounts opened. Fixed Deposita received at rates which will be quoted on application.
Safe Deposit Boxes for hire.
PHILIP GOCKCHIN,
Chief Manager.
YOU
ARE INVITED TO INSPECT OUR
STOCK OF
ASIATIC, FOREIGN AND COLONIAL
FOREIGN EXCHANGE and General -POSTAGE STAMPS
The Admiralty thought she Cebu would be good for 10 years, but Colonbo
Frothi last year she was seriously dam-
Halphong aged by fire. One reason for the Hamburg decision to make no further use of her as a training establish- ment was that her size made her
CURRENT ACCOUNTS opened and a very vulnerable target,
FIXED DEPOSITS received, for, One It is also discovered in
Year or shorter perioda in Local or committee's report that, after Other Currencies at rates which will four years of investigation into be quoted en application.
the
Banking Business transacted.
overhead and other charges, nego- SAVINGS ACCOUNTS also opened tiations between "an important Local Currency and Sterling with in- armament firm and the Director torent allowed at rates obtainable on of Navy Contracts have now application,
the reached the stage of fixing rate of profit.”.
The Bank's Head Office in London undertakes Executor and Trustee bual- ness; and claims recovery of Brilian The committee says it "cannot Income Tax overpaid, on terms which think that prolonged uncertainty may be ascertained at any of the as to prices tends to efficiency Agencies and Branches, g and economy either in produc- tion or administration."
H. A. CAMIDGE,
Manager.
'IN SETS, SINGLE, PACKETS:
BAGS AND IN APPROVAL SHEETS.
GRACA & CO.
Dealers in Postage Stamps, Philatelie Goods, Pictures, Postcards, Religious Goods, Garden Seeds, & etc.
No. 10, WYNDHAM STREET, P. O. Box No. 020. HONG KONG.