HONGKONG DAILY PRESS
Finance and Commerce
GOOD PROFIT FOR BANK GERMANY'S 1938
OF EAST ASIA
Canton Branch Cleared With
Practically No Loss
34
A net profit of $786,503.12, including the amount brought forward from last year, was reported at the annual
of the Bank of East Asia. Ltd., held on
The Hon. Str Shouson Chow presided, and among those present were:- Messrs. Li Koon Chun.
P. K. Kwok, Wong Yun Tong, Chan Ching Shek. Li Lan Sang, Wong Chu Son, Kan Ying Po, Fung
Fing Wah (Directors), Kan Tonz Fo (Chlef Manager), Li Tse Fong (Manager); and the following shareholders, Messrs.
Fung Fut
Saturday
meeting afternoon.
a result of the conservative polley adopted by your Direc- tors during the past few years In
Canton regard to Branch, all outstanding, RC- counts carried by that Branch are ΠΟΥ being gradually cleared with practically
attendant loss.
more
no
than
cash at a very
GAINS?
■
The most outstanding gain öf Germany under Herr Hitler was in territory. Through seizure of Aus-
trla and Czechoslovakia, Herr Hitler added 44,000 square miles In the Greater Reich. But this in itself was no real gain, because 2 brought with it 15,000,000 more 1.ted Europeans into
enlarged and merely self-sufficiency problem.
the fold German's
and
Herr Hitler absorbed 6,000,000 of the 7,000,000 unemployed through a huge public works and military road programme, an in- tense rearmament programme, by building a trained army of. 1,900,000 men, and a navy ale feet building scheme which makes Germany a grave menuce on the sea and in the air. Herr Government in that 50 of industrial orders
tracts originated with the gry- ernment, This was done only through huge expenditures.
"Turning now to the Balance Hitler put the Tien, B. Wong Tape, Kwong Tze Sheet, you will notice that our business to the extent Ming, "Chan Shing M, Fung Ping total deposit continues to in-
cent per Fan, Tao Shuk Hon. Chow Eau crease, and on 31st December, and 80 per cent of building con- Leung. Lo Háu Fuk, KK. Lee, 1938, the total amount was over Li Tung, Li Pak To, K.K, Wong. two million dollars and many others
that of the previous year. Con- Addressing the meeting. the sequently our available Chairman said:-The net profit the end of 1938 stood at for the year including the amount high Egure of over $18,700,000.00. brought forward from last year This state of affairs, while it re- amounts to $786.503.12 which accts the high standard of qui shows a small decline com-dity and sound position," of pared with that of the previous institution yet indicates the rather
In view of the present limited neid of profitable em- mated as high as $30,000,000,000. disturbed and unsettled condi-ployment of available funds. tions in this part of the world
year.
as
I hope thareholders will consi- der this result satisfactory. ·
PUBLIC DEBT Germany's public debt When Herr Hitler took over W35
less than $5,000,000,000. Now, al- our though the real public debt is a dark secret. It is privately esti-
The German tax burden
"In the Investment Account monumental Germans' pald you will observe it shows a de-¦ 18,000,000,000 marks in taxes dur- cline of over $1,500,000.00 con- ing. the 1937-33 scal year. The "During the latter part of 1938, sequent upon our sale of certain total national income' was 68,000, "when hostilities were extended to investments during the year. Your 100,000 marks, which means that
South China, we had to close our Directors are keeping a careful almost 30 marks out
of every branch in Canton. However. watch and can assure share- 100 earned are paid over in taxes. I am glad to be able to report holders that our present hold- Germany, through a semi-col- that before leaving Canton your Ings are of a very high grade. lectivized agriculture, has boomed star was able to make arrange in accordance with our ususi her land yield at expense of A ment to have all valuable docu- practice we have written off Bank lavish use of fertilizers and ments removed to safety, and that Buildings the sum of $61,758.10. man-power. She gets almost our bank building is to-day stEl The Directors recommenda- four times as much wheat per Intact. In this connection I wish to place on record your Direc- tors' appreciation of the trying time your staff in Canton had to face during the critical period and of the efficient manner in which they carried out the pr- "I feel no doubt that you will turns, where the most strenuous order, to afford all possible facil/approve of the Directors' recom-efforts bring only one-tenth of a mendation to bring up the Re-bushel an acre over previous years. ties to clienta of our Canton serve Fund to $2,500,000-by trans- so Germany has falled to bring Branch, we have already open-ferring the sum of $50,000-from her food production up to war #ed a special department the Profit and Loss. Account.
Head Office here
strength, for a nation must have all
"There have been little changes an agricultural capacity their dealings and, to
which In other items of accounts that exceeds its peace-time consump-
rangement for evacuation. Τα
their accounts.
to
מ!
handle
liquidate
CANTON BRANCH
"It may be of interest shareholders to know that
tion of a payment of $6.00 per share as dividend represents per cent, on the capital value of the share.
RESERVE FUND
acre as the United States. but still her people are eating ersatz food—and there
a shortage
of that..
The wheat yield has now reach- ed the stage of diminishing re-
will require any comment from tion by 40 per cent before it can me and before I formally pro- prosecute a major war
pose the adoption of the accounts, fully.
to
2.5
I wish to express our thanks to
all members of the staff, both
here and abroad, for
the loyal
and faithful service they have NORTH CHINA
ADVERTISEMENT rendered to the Bank, and I feel
CHINA AUCTION
ROOMS
PUBLIC AUCTION
no doubt that you will support the Directors' recommendation to pay a bonus of $16,655.11 the staff
propose
1
to
28
CURRENCY
success-
CONFUSION
PEKING. "Mar. 12 (Reuter)--- Certain confusion reigning here
"With these remarks I beg to since the introduction yesterday
that the account
of the new rules as regards the presented be adopted, When this circulation of Federal Reserve has been seconded, I will answer, Bank notes in North China was to the best of my ability, any cleared up to-day when it was questions that you may wish to announced definitely that Peiping. Tientsin. Tsingtao and Cheefoo were included in the Federal Zone It is learned from good autho- Mr. Kwong Tze Ming proposed rity, though it cannot be confirmed Nelson "Street, Mongkok, Kowloon, and Mr. Chow Hau Leung second-officially, that various Japanese the undermentioned goods:--
The undersigned has received instructions from the owners to sell by Public Auction on TUES- DAY. 14th March, 1939, at 11 am. at the Sul Heong Yuen Godown,
ask.","
ام
Mr. B. Wong Tape seconded.
ed the appointment of Mr.
Chambers of Commerce in North.
Iron Riveta-Manila Ropes-Lan Sang and Mr. Fung Ping China have cabled to Tokyo to Steel Snatch Blocks-Steel Wah as ordinary Blocks, Single, Double and Triple the current year Sheave Wooden Blocks, Single,
Directors for postpone enforcement of the new currency or, at least, to exampt
the
ensur-
LONDON GOLD
Mr. Fung Fuk Then proposed the four towns mentioned, but Double and Triple Sheave-S-ton and Mr. Chan Shing Mi second- apparently unavailingly. Cyclone Block-Sledge and Ma-¦ es, the re-election of Messrs. chinist Hammers-Steel Rope Percy Smith, Beth, and Fiem- and Chain-Iron Shackles-Wire ing an auditors for Clips, Clamps and Thimbles—ing year. Foundation Boits, Eye Bolts,
The Chairman announced that Riveting Dolly
Bars-Messer dividend warrants would be pay- Oxy-Acetylene Welding Outft-
able to-day. Horizontal Hand Pump-Rex Contractor Pump Connected to Single Cylinder Engine-Com- pound and Simple Geared Hoists -C. I. Flanges and C. I. Flgd. Elbows Copper Tubes-Magnesis Covering-Rubber-Covered Cop-.
London, Mar. 11 (Reuter). Bar Gold, Fine per oz., 148/3. Dollar Parky, id. premium.
SECURITIES AND COMMODITIES
Messrs. White, White & Co. have received the following com-
per Wire--Linseed Oil-Turpen-ments from Messrs. Carl M. Loeb, Rhoades & Co. on the various tine-Coloured Paints-Alum!» New York markets:-
num Vehicle. Varnish and Enamel Paint-Iron Cement and Quigley Beal-IXION Bolt Stock, Taps and Dies-Asbestos Cement -Fireclay-Machine Screws and Nuts-Chain Pipe Vise-Tube Expanders-Faucet and Hose Bibbs Blue Printing Frame Stcel Window Frames-Wheel Barrows-Garlock Sheet Packing
Miscellaneous Tools Including: Wrenches, Vise, Files, Saw Blades, Augers, Drills etc., etc.
TERMS-Cash
on Delivery.
For further particulars; and inspection order &c., please apply to:
MR. E. V. M, R. DE SOUSA,
Auctioneer.
China Auction Rooms, French Bank Building, 1st floor. Hong Kong, 7th March, 1939;
í
SECURITIES
འ
FINANCE
MONDAY, MARCH: 13, 1939. —PAGE 11
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better and cheaper shaving
Insist on Gillette... don't" think that you will save money by using inferior low-priced blades. It is false economy. To reduce your shaving costs to a minimum, buy Blue Gillette blades, and a Gillette razor.
Blue Gillettes are designed to fit Gillette " razors perfectly. The two work together as a team to give not only the greatest number of shaves per blade, but also the cheapest, cleanest, easiest shaves it is possible to have,
Blue
Gillette
CRAVEN
'A' ensure
a wonder-t
fully satis- fying smoke with never
a trace of harshness or throat irritation. The nat- ural cork-tip not only binds the end of the cigar- ette and prevents loose strands of tobacco enter- ing the mouth or throat,
"
but also saves fingers and lips from stain.
FLAT
CRAVEN,
"A
C. VIRGINIAKS
Slip 50 seth
your peckat for
the Weekend.
TINS
(Ideal for the Handbag or Pocket) of 20 and 50
also in
''TRU-VAC '.. TINS of 50
and PACKETS of 10
Made in London
Baturday, March 11,
The market is entering the Spring season in a conservatively confident frame of mind, with only, normal `forward commit- ments. Business is in a position to reap the benefits of im- proved labour efficiency and restored profit margins.
STATISTICS
Ward's Estimate of Productions...
of Cars and Trucks ...
Week ended 3.3 78,705
WHEAT
COTTON
Traders are awaiting new incentives.
Week end
10.3
84,095 units
Mills and commission houses were buyers. There was some hedging.
Eastern selling of distants' continyed
RUBBER
HIDES
There was some profit-taking.
COCOA
Dealers were selling, whilst consumers and commission houses were buyers.
Blades
H4
MABEL
LAMMERTS' AUCTIONS
PUBLIC AUCTION.
"NIKS"
A Guaranteed Cure For Hong Kong Foo
¡HE Undersigned have" received
Instructions
to sell by
PUBLIC AUCTION
PUBLIC AUCTION.
THE
THE Undersigned have received
instructions
TO SELL BY
PUBLIC AUCTION
ON
THURSDAY. the 16th MARCH, 1939
Commencing at 2.30 pm...
At their Sales Room, No. 35 Hankow Road, Kowloon.
A QUANTITY OF VALUABLE CURIOS
་
Old
Comprising:-
and
Porcelain, Pottery Bronzes, Ivory, Jade. Agate, Corne- lian. Amber, Crystal and Quartz Ornaments. Chinese Hand Paint- ings, Pictures, Embroidery, Carved Lacquer Screens and Table Screens, etc., etc.
On VIEW from WEDNESDAY. the 15th MARCH, 1939.
TERMS:-Cash on Delivery
LAMMERT BROS..
AUCTIONEERS.
I've always said
Craven A
are the smoothest cigarette!
MADE
SPECIALLY TO
PREVENT SORE quality
THROATS
MONDAY, the 13th MARCH, 1933
Commencing at 10.30 am.
At the Cosmopolitan Dock of The Hongkong Whampoa Dock Co. Ltd., Talkoktsui, “
43 REELS PAPER
and at 11.15 min.
At Godown No. of The Hong- kong & Kowloon Wharf & Godown Co., Ltd., Kowloon. »
1 Hogshead Tobacco Leaf store
in Godown No. 20. 47 Old Rubber Tyres stored in
Timber Yard.
TERMS: Cash on Delivery.
LAMMERT BROS..
AUCTIONEERS.
PUBLIC AUCTION.
THE Undersigned. have received
47
instructions".
to sell by
PUBLIC AUCTION
от
| TUESDAY, the 14th MARCH, 1939.
Commencing at 2.30 μm.
At their Bales Room, No. 2 Con- naught Road, Central, Ground
Floor.
A QUANTITY OF VALCÄBLE HOUSEHOLD FURNITURE,
and
Comprising
Hatstands, Divans, Wardrobes, Dressing Tables, Chests of Drawers, Dining Tables, Chairs, Sideboards, Dinner Waggon, Desks, Typewriter Tables, Filing Cabinets. Glass Cabinets, Bookcases, Rugs, Carpets Runners, Electric Heaters, Lamps, Cookers and Bollers, Radios,, Gramophones and Records, Cutlery, Aluminium, Brass, Porcelain and Glass Ware, Filters, Wash Basing, Cameras, Binoculars, Ornaments, Magazines, Cooking Utensils, etc, etc.
Biso
A FEW PIECES OF BLACKWOOD FURNITURE
And
3 Chesterfield Suites
1 Ashwood Bed Room Suite
Grand Father Clock
1 Upright
Collard
Piano "Collard and
1 Cooking Stove "Dover"
1 Typewriter "Ideal”
1 Geyser
1 Electric Refrigerator "Westing-
house"
1 Electric Refrigerator “Electrolux
Ltd."
On VIEW from MONDAY,
the 13th MARCH, 1839.
Terms: Cash on Delivery.
LAMMERT BROS..
AUCTIONEERS,
What do
you want ?
If there is anything you want to buy or sell try
amall Classified advertise- ment in the Hong- kong Daily Press.
25 words $1.00 prepaid for 3 insertions.