Juborg By For Hospe
JUST ARRIVED
A SHIPMENT OF
TUBORG BEER
Purveyors to
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on the Market.
6 doz. pts. $21.40. duty paid.
Sole Agents
GANDE, PRICE & CO., LTD.,
Wine and Spirit Merchants. ·
St. George's Buildings, No. 2. Ice House Street, Tel. Central No. 135.
Hong Kong
GREEN ISLAND CEMENT CO., LTD.
14
THE HONG KONG DAILY PRESS, WEDNESDAY, JUNE 8th, 1927.
Best Portland Cement.
SHEWAN, TOMES & CO.
GENERAL MANAGERS,
HONGKONG.
The Simple Facts About Electric Refrigeration
Kelvinator electric refrigeration is used in thousands of homes. Th fits right into the ice compartment of the refrigerator you now have. It is entirely automatic. It supplies dry, even cold, keeping food at the same temperature all the time.It freezes cubes of ice for table use. In its ice trays, desserts and salads are frozen-Kelvinator for better refrigeration sayes food, and eliminates ice bills. Its economys cleanlinessand conveniencemake enthusiastic owners, Talk with them. -Let us send you literature.—or, better still, come to our showrookna, ace Kelvinator demonstrated, and learn the simple facts about le
Call at our office for a Demonstration
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(Engineering Department)
Agents for Hong Kong and South China.
Established 1914
Kelvinator
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The Woman who
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she uses
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ROSE FROST"
Both in glass pote
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# 1872
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Applied to the face before starting,
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All Chem'sts and Stares
BURROUGHS WELLCOME & CO.
THE WELLDone Foundation La., Longon. Eux.) LONDON AND SHANGHAJ
All Rights Moverwat
CHINESE BANKING. VOWS TO THE EX-
OLD CUSTOMS AND MODERN
METHODS.
NEED OF A CENTRAL BANK.
ADDRESS TO TIENTSIN
ROTARY CLUB.
Rotarian Z. S. Bien, Mannger of the Tientsin office of the Bank of China, gave a very interesting ad dress to his fellow-members at a Rotary Club necting on some of his Cxperiences in Chinese Banking.
Although many of the Chinese hanks have adopted the modern system. he said, they could not altogether diverge themselves from the native system. There was a nsiderable difference between the IWO Whereas the manager of a Bank conducted along Western ines sat in his office and received his clients and accomplished busi- ess, the so-called native banks had an expert staff of men who went round and called upon the leading chinese firms, carrying a little wote showing the state of the account, and invited the merchants to a
pt a loan.
These men must be well known and of very courteous disposition, otherwise the head of
KAISER.
GERMAN PARTY'S
MESSAGE.
ITS MEMBERS IN THE
CABINET.
SAIGON RICE MARKET,
GOOD DEMAND FROM SHANGHAI
The Compagnie de Commerce & de Navigation d'Extrême-Orient, in their aurket report, dated Saigon. May 31st, slate :
Gur market renuntius very strong with an upward tendency due aure especially to a good demand from Shangh, and also to some extend to the por supply
of paddy. There is nothing to report as to rice meal and brokens.
The total amount of rire export- ed from January 1st to May 15th, 1927, is 678,011,584 tons against 321,562,136 tons 10 1026.
We quale to-day white Saigon per cent. brokeas wind grain:
d. per cwt. fo.b. Saigon, Yon piral of 134 Ds. Lob. daigon; 13s.
8.00 per pieul of 134 h. Lob.
Benuts, May nth. While an army of 130,000 Steel Helmets 1 under-estimated the mances were proclaiming their refusal here to recognise the Treaty of Versailles and the Treaties ofree No. 1 25 Locarno amid the appituse of the Nationalists, who form the strong est party in the present German Government, Dr. Stresemann, the | Saigon. Foreign Minister, in the quietude of Bad Oeynhausen, was declaring that nothing whatever had happen- ed to indicate a weakening in the determination of the Government. to pursue the Lucno policy.
That Dr. Stresemann desires to pursue the policy of Locamo there is no sort of dould. But his state- ment is puzzling. A great deal has happened in the last few days to throw the gravest doubt not on the sincerity of Dr. Stresemann but em the sincerity of his entengues in the Cabinet.
Their newspapers celebrate in
the firm they called on might re-exultant and lyrical terms the fase to accept a loan. (Laughter.) triumphs of the men who sent up a Generally interest was not high, being about u per cent or 7 per cent. per mille per month. The
banks did not pay interest on the credit side, but charged interest on the debt side all the time. it 'might appear very profitabile, but they had to take account of the risks.
Modern Ways Slowly Gaining Ground.
Modern Chinese bankers, as he
great cry to heaven when their leader declared that they rejected the policy of Lacurno and-to avoid all misunderstanding-stated that their demands would not be madi fed even if the Allied troops on the Rhine were withdrawn and the eastern frontiers of Germany recti- fied.
These unen are largely ex Service inco.
Dr. Stresemann's Plight.
A few days ago Dr. Bergt. the Minister of Justice, declared that there would be no Eastern Louniro. who robbed the King of Poland of and held up Frederick the Great,
vast tracts of territory, as the
could testify, found many diffient ties uftentimes 20 introducing modern methods. He tried on the one hand to meet the requirements of the merchants to a certain exexample of a man who understood Lent and on the other to introduce Germany's policy in the East. That threat made so deplorable an in- modern methods, and cited the pression in Warsaw that Dr. Strese- valuable part played by his Bank mana tried in his speech at Bad in connection with the piece goods; done by his colleague.
Oeynhausen to undo the mischief
crisis in Tientsin some years ago. Gradually the Chinese merchants were beginning to see the mutual advantages of modern methods The modern bankers were more or less agitators, or missionaries, and had to exercise patience chang ing the old system, and getting the people to understand moder
er horis,
When Military Authorities Intervene.
Mr. Bien spoke fechingly of the dinhculties to be faced and the tact needed considering proposals
be.
In regard to the discussion about the Eastern Locarno," he said, I must point out that our relations with our eastern neigh- bours, especially with Poland, were regulated by agreements actually And he called made in Locarno. to mind the fact that the present Cabinet had emphasised its accept- ance of these agreements.
The Nationalists in the Govern- inent certainly recognised these agreements—but is that why they ran away froni Berlin while their friends outside the Cabinet were applauding the Steel Helmets' at- tack on those Locarno agreements?
To Restore Monarchy, fruta representatives of the Military Authorities, and went un to etu These inembers of the Casinet phasise the need of a real Central have sworn fidelity to the Hepuly
The Chinese banking sys- Bank.
lic, but that does not prevent the tem was not yet what it ought to leader of the party, Count Westarp The different banks did not who is not in the Cabinel-from specialise in a particular branch as declaring, at Rostock, that the they ought to do, and the system party remains firm in its deter- was much like the traffic system in mination to make Germany again the city. Collision was prevented an Empire with a Kaiser, and the largely by a natural order rather right wing of the Nationalists, to than by a scientific system. Yuan which Count Westarp belongs, pass Shih Kai treated the Bank of China, ed a resolution on Saturday in more or less as his compradore, which the duty of loyalty to Wil- and the then heads of the Bank lian II, was enunciated, and they evidently did not understand what sent a telegram to Dourn to tell the functions of a Central Bank their Kaiser and King that they ought to be. As it is, the Bank of respectfully renewed their vows of China was not entirely a Central fidelity to his imperial and royal
Bank. it was not the sole Bank person.
of issue. The right to issue notes was given to all sorts of banks, and if one wished a new hubby the collection of Chinese bank notes: ought to be very entertaining, (Laughter.)
The Bank of China was a sort of collecting agent for the Salt Gabelle and in many places for the Customs. But the day after col lection the funds had to be trans-
was
If the Nationalist Ministers in the present Cabinet desire to be thought sincere they have no other course except to quit the party which denounces the foreign policy they profes to accept and the Re- publican régime which they have undertaken to protect.
Dr. Stresemann is greatly to be pitied. His protestations will con- vince nobody of the sincerity of his colleagues. On the contrary, their equivocal behaviour gives cause for the utmost caution in our dealings profound mistrust and prescribes
with the Government in which they
ferred to the Hong Kong and Shanghai Bank, which
the real Chinese Government deposi. tary. But it was not, at the same tinie, called upon to help in bank- ing crisis as was, for instance, the are the strongest force. Bank of Japan. It had the privi lege without the duty a very pro- fitable position,, (Laughter.)
A
White Saigon -rice No. 2 sifted Japan quality: Hong Kong $7.00 per pical of 1M us. 1.0.5, Saigon; 129. 3d, per ewt. Lab. Saigon : Yen 7.95 per picul of 184 lbs. fo.b. Saigon.
For June/July shipment.
HONG KONG STOCK EXCHANGE.
CLOSING QUOTATIONS.
JUNE 7TH 1927 A.K. Bank
$1,075 nom. London...15 nomu, Chartered Bank o Mercantile Bauk, A. &B...£30, now. C...£13, nom.
Do.,
Don
£ buy, & sel.
$620 40. $0.89 nom. Tie.
148 buy 277 buy.
368 nom.
P. & O. Bank East Asia Bank Canton Insuranes Ubins Underwriters North China Ins. Yangters Insurance..... $40 nom Union Insurance
Juarace $200 buy
China
1 nom
$1.10
nom.
$30 Dom.
..$65 al.
.,- No.
sol. $14 buy.
$15.
Kong Fire Ins....$600 now. Steamboat Douglases Hong Kong Tugs .... loto-Chinas (Prof.),
Do.
(Def.) 8bell
Transports Star Ferriss m Waterboats.. China Sugars Malabon Sugars Benguete Langkats (combined)..... Kailan Mining Ad..... Do, (single) Shanghai Loans S'hai. Explorations Kauba Tronoh Mines. Ural Caspians
H.K. & K. Wharts E.K. & W. Docks..
Hengkows
31 nom.
$1,70 bay. Tl. 2 of bay. 35. buy
in 24 Day. ..Tix. 41-uy.
Ta
buy.
Sá nom Hom
Dom
8/- nou. „Şiɩ41 buy. $38 nom. 1. 14) buy. The. F.10 buy. tis. 1061 buy. 36.90
854 buy.
..$0 sel. ..nem
$1į uom
Now Engineerings. Shanghai Docks H.K. & S. lietela H.K. Lands Hong Kong Realtys.. H.K. Terttoriale Humphreys states, Prince's Buildings.... Rural Landa Ewo Cottona Orientals
11B, 2.10 not. Shanghai Cottons (old)...Tis, bi bug, Do, (new)....Tis. 26 bay. China Busen
K. Tramwaye.. Peak Trams (old)
Do. (new)... Singapore' Tractiona TaxiB ...... Amusementa Canton Ices Cements (combined).
Do, Do.
Do Do.
110.
(new),
$99
.499 am
1. 7.70 noiA.
316. 7 buy.
815 p OID EDI
$2.30 som.
buy:
..88 nom. .10/6 nom. $1 nom, $204 buy.
5 noir. .7.10 bug. (old) ..... Sot bay.
$1 aci. (now). China Lights(comb.)........814.30 buy.
(okl)
.....310; buy. China Proridents
$71 buy ..$1.40 Luy. Constructions Dairy Farms, Der A Winga H.K. Electrics Macao Electrics AK. Roper (old)
Do. (LOW) Lane Crawfords. Mackintosha.... Siuceres......... United Asbestos Watsons (old) Wm. Powelle Telephouer..... buybuyers; sollers; calco
HOTEL
$36 buy,
. 10 nam. ..36 nom, .$7 Hel. ..$19) now. ..$84 nom.
$20 Rom, $11 nom. $ nom. $3.70 LOM.
com,minal
EXCHANGE.
CLOSING QUOTATIONS.
June 7th, 1997,
ON LONDON, was
Telegraphic Transier *. 2/-
OX
Bank Bills, on demand 2/0 1/16 Bank Bilis, at 30 days'sight - Bank Bills, at 4 months
wight
02/02
Credita
¡at4 months' sight 2/1 Documentary Bills, +
months' sight... PARIA
... 9/16
Bank Bille, on demand... 1,340 Oredits, 4 months sight... 1,315 NEW YORK- Bank Bille, on demand Credits, at 60 days' sight...
50
134
It was necessary also that the English System Qnsultable.
various commercial banks should China could not adopt the system bank without trade could do no
apecialise in different trades. AON followed in England or in France, business, and it was their duty to with the Head Office in the capital assist trado. Specialization did not On Boom and branches in the different pro necessarily mean that the bank
Telegraphic Transfer... vinces. The country was far too would concentrate upon that branch
Bank On demand... 194
Bill, largo for that, and traditions and of which it had special knowledge, ON CALCUTTA customs varied greatly. If they but it could be. depended upon
Telegraphic Transfer..... were going to huve bankers'
Bank Bills,
on demand.....} when other banks sought its advice. Bank they must have some institu- The Bank would wish not only to tion like the Federal Reserve Bank once but also to regulate the
On BaseLI.—
Büls, at sight in America, as the sole bank of trade and prevent undue credit. If Os YoxorAMA. Ou domand... 1041
30 days" night ...... issue and the bank of the national Chinese and foreign banks and firma OR MANILA-O and local governments, which, when united in support of such an institui Or SINGAPOREO
demand a crisis occurred, could come to the tion it would help greatly to im- ON BATAVIA-On demand
-On demand.. Probably China would adopt a system something like the further panics and erises.
prove trade conditions, and prevent OF HAIFION-On demand. present Reichebank. Foreign co.
On Sale,On demand Rotarian Bien was heartily thank- | Ox Baxexor-On demand operation and assistance would be fed for his interesting address by Sovana, Bank's Buying rate $9.65 needed, but not foreign dominance. Rotarian Fairchild.-Peking and Gozo Laar, 100 fine, per taal...
(Continued on next Calamn), Tientsin Timer,
BAR BILVER, per os,
rescue.
ΠΟΤ
89
181
поча 92
201
The Typewriter that interested
H.M. THE KING.
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Twenty years experience is behind the "Imperial" Typewriter, made in England. If it were
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SUMMER CRUISES 1927
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July Fat
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111
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301b
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Tako Bar (for... Tientsin & Peking)
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