1925-03-10 — Page 2

Page

BANKING

& SHANGHAI CORFORATION..

Arad Office: HONGKONG, “AUTHORISED CAPİTAL.............. $50,000,000 | LOODED AND FULLY PAID UP $20,000,000 RESERVE FUNDSSON

STERLING..... & 4,500,000 SILVER...... $26,000,000 RESERVE LIABILITY OF

PROPRIETORS...}.

$20,000,000.

COURT OF DIRECTORS: Q.-M. Young; Kaq,---Chalensen,

-EL, P.-White, Eng-Dopatý. Chalissan

B. D. F. Beith, Esq.

WHL Bell, Esq.

AH. Compton, Ea

Hon. Mr. A. O, Lamig,

W. Pactanden, Ban.

5. A. Flammer, Bags

Hon Mr.P.E. Holyoak! 2. (.. Well, Esq.

•

CHIEF MANAGER:

A. H, BARLOW, Esq. Manager: Shanghai-G. A. STITY, Esq.

LONDON BANKERS. Westminster Bank, Ltd.. CURRENT ACCOUNTS opened in LOCAL CURRENCY and DEPOSITS received for one year of sharter periods in Local Currency nad Starling on terms which will be quoted on application..

COMMERCE AND FINANCE

SILK SHIPMENT.

Silk forwarded from here by Empress of Russia on February 6, arrived in New York (St. John's Park) on March 1 having been. 23 days in transit.

SOVEREIGNS FOR NOTES:7

negative.

GENERAL TRADE POSITION.

Sir Harry Goschen, the chair min of the National Provincial Bank, is very hopeful regarding trade prospects. He deplores con

THE CHINA MAIL.

EXCHA

The principal feature of th! balance sheets of the English Joint stock banks, all of wh have now been published, isi increase shown in loans advances to customers as com Magi

£691 millions a year ago.

De demand

1.3/30/18

30 day's sight

•months' sight: Crédita, & moertis), alght. Documentary, ◄ months sight 9/4–1 Da Parlam

On decand

Oredite, mouthy sight .......1160.

On demand

On demand... On New York—**

"Gredita, 60 daya' sighi.. On Bombay-

+

Of this increase of 658 millionsWire the Westminster accounts for

On demand..... £201 millions, Barclays for £8 On Jaloutta t millions, the National Provincial!

Wire

for £4 millions, the Midland for On demand

in

De Sagapore

On demand On Manila On Shangha

On demand...

On demand...

док

30 days sight (private papor

On Yokohama

[ditions in the coal industry, but

sces Improvement in many direcpared with this time last year. tions in the fron and steel trades. The total advances of the big He also looks for a further expanfive' are £749 millions as against sion in the-coiton-industry To the man in the street, com although apparently he was un- paratively untroubled by questions wire when speaking that cotton of high finance, the remarkable risemanufacturers were reverting to of the to-within reasonable dis short time. The trouble with tunce of par suggests one question: Sir Harry points out, and Shall we shortly be using over this is a well-known fact, is that eigns instead of notes?" In our costs of production are too

£2 millions, and Lloyds for $28 afraid that the swer to that ques-high. The remedy; of course,

millions.The increase tion__avill-probably be in the is an increase in output per man,

advances has been met by a re And that is rather a matter for theduction in bills discounted, which First of all, we must remember trade unions to decide. Plant we have not yet actually The chairman of the Bank of include Treasury Bills and which amount to £207 million for Tuched pair, and the last lup-in this | Liverpool and Martins dwelt on

the five banks, as against, 257 On demanda ang na 120-

cases by sales of investments gilver (per of 43% 3/16 Sovereigns (Bank's buying mate) 8.49. which are £37 millions lower in

EUBRIDIARY GOING. Cash' is slightly Hongkong 50 cents rob. par. the aggregate higher in most cases..

10 ..и On the liabilities side deposits anton

LB dis BROX dis. are £11 millions' lower, by there Bat Bilver in Boogkong 10% pm. has been an appreciable Chinese Copper Canla 10% pu in acceptances, which can be said Chinese Copper Cents6pm. to give some indication of the Rate of 2ildve Interest: 8K 77 oub state of foreign commercial busi- Chide Bab. Cola 9% dis. ness. The deposits of the Mid-Hongkong Suh Gol.18% dis land Bank amount to 357 millions as against £362 mons FOR CHILDREN'S BRUISES. de-a year ago, and are still the high-For "black and blus" bruises, sprains mest of any British joint stock of wrists and ankles, strains of cords and muscles, stubbed toes, cuts, burns to bank.

and other mishaps of childhood," "Cham- berisin's Pain Balm always gives relief. Doss just as much for older people too. Eases their rheumatic pains, backacher and neuralgia. Just rub it on the sore spots. Seld and recommended every- where.

FIXED exciting, ruce many, possibly, prove this aspect of trade recovery millions a year ago, and in some Gold Leaf, 100 fun (per tael) 47.50

the must difficult tap of all, And Hard work and economy and an then, even when we do reach endeavour on the part of both the purity, it max pop be altogether employer and employed to bring Hongkong, f ́st 1 «bruary, „318|?”

must to maintain our position.

down the cost price of the goods "Even" supposing the 2 were to they manufacture to a level which HONGKONG SAVINGS BANKch par tour, there should will enable them to compete in with similar indeed, there must be some iuter foreign countries. regum before we could retim, to these are the essential load a free gold market. I wa were these are the

to trade inediately to issue got, to allow expansion, it to move freely from Britain- to another, there would be a danger

sys

THE business of the above Bank da conducted by the HONGKONG AND SHANGHAI BANKING COR- PORATION. Rules may be obtained ou application.

INTEREST on deposits is esiculated on the lowest balance during pach com plorad Calendar Month at 34 per cent. par sanam. Should there be no balance on any day in a month no interess will

ba allowed for that month.

Home "paper) thai

we night experience too heugy drain upon nur gold supplies, and if we had then uguin to suspend the free gold market a general set-back

o cuifidence, would result

DEVELOPING

EMPIRE

MARKETS.

13y his offer of a million for velopment schemes to foster pire-trade, Mr. Baldwin claims have redeemed the prontiso made For the Man in the Street. to the Empire Confererice. In speaking of the sum to be devoted to the favorable financial outlook, be the full money equivalent of It is very desirable, in view of this work, the Premier said it would that the man in the street should | the advantage. that would have Ful the RONDON & Bunderstand why this rising at been conferred on Empire trade if the original proposal had been re-

Depositors may transfer at their option. Balance of $100 or more to the HONGKONG & SHANGHAI BANK to be placed on FIXED DEPOSIT at CURRENT RATES.

BANKING COBIUZATION,

H. BARLOW,

Chlef Manor

Hongkong, 7th Jusŭary, 1925. THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

INCORPORATED BY ROYAL CHARTER, 1853.

HEAD OFFICE: LONDON.

£3,000,000

Faid-up Capital Reserve Fund........£3,000,000 Reserve Liability of Pro-

prietors...

.£3,000,000

all

"All sorts of factdps which tight, Rained. The precise method by at first sight; be thought to be which this amount is to be ascer- Fierelevam. have helped to bring the tained has not yet been “decided

e about. The acceptance of the upon.

The plan of granting Duwon Reports his had a good deal bounties has been wisely rejected, to do with it. The successful issue but the method by which caletil- Britain of the Greek |tion for a bounty would have been Refugee Bouns which was eagerly nude may be employed for the Fover-subsribed, by British capital, apportionment. More important has also played its part, and so has still wifi be the means adopted to "the Revousivation Sebeme in apply the money for the purpose in Hungary, by which is is hoped that view, which will engage the atten at list This part of Central Europe tion of the Economic Committee fuas, passer over the shifting sandy Lover which it is expected Sir folvency on to solid financial Halford Mackinder will preside. ground.

The Committee is a creation of the The connection between a Greek | last Inperial Conference und wus loan and the rise in string may designed as a purely advisory body: Yet this will be the first occision on serm comparatively remote it has an influence.. For Europe, which it has been called upon to Mr. Baldwin specially men- fufter all, is a financial unit, and act. (everything thật tends to the henetit toned meat and fruit as articles of a part tenos also to the benefit that are outside the question of of the whol

taxation. The phrase is meant to Another factor that has played its be interpreted broadly, and should art in the mare

recent rice in be taken in conjunction with his sterling, is thus a large part of the declaration that he means to abide Subscribe Capital Fr. 23,000,000.00easonal, demand for dollars by his Gravesend speech. "Carda

FOREIGN EXCHANGE and General Banking business transacted.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for 1 year

or shorter period at rates which will be

noted on application.

A. H. FERGUSON, Manager. Hongkong, May 8, 1028.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Baumana, Paris.

Paid-up Capital ... Fr. 65,400,000

Beerro Fanda...

Fra 59,667,283.84

BRANCHES

Bangkok

Honghang

Extambang

Mongtse

Монта

Djshouti

Papeete

Hilphons

Peking

E akow Fanol

Parm Penh

Pondicherry BANKERS:

į

#ot

which I refer to the large demand | stands to jose most by the abandon- made every autumn for American | ment of the proposed preference on money with which to pay for our apples and conned sulmon, "but the Saigon Shanghai

supplies of cotton and the likes his new arrangement will bring com- Hissspore been satisfied. And it is significant penting advantages 16 Tien lain | that although the demands for Dominion. Tabrane

American currency have recently Yurasnfa

heen exceptionally heavy, supplies luve been quite equal to the derasión.

IN FRANCE Comptoir National d'Escorapi de Paris; Credit Lyonnais, Banque'de Paris et

des Pays-Bes; Credit Industrial Commercial

Boolete Generala."

IN LONDON: The Netlonai Provinciai & Jalos Bank of England, Ltd.; Comptoir National d'Elompie de Paris; Credit Lyannlse IN NEW YORK: J. B. Morgan & Co. French American Banking Corporation; Guaranty Trant Co. of New York.

Moreover, many of those who in the past year or so sold out British securities in order to purchase American bonde, under the mis. guided impression that the £ would re continue to wenken, are now. investing in aterling.

Nor must it be forgotten that Informt allowed on Current Assonzita and Fixed Deposits according to arrangement,

Britain's "action" in regularly meet Every description of Banking and Exshoping its debt payments to America,

Besinde transscted.

A. LECOT,

Manager

Hongkong, March 30, 1984,

THE YOKOHAMA SPECIE

BANK, LTD.

Established 1880..

Capital (fully paid-up) Yen 100,000,000 Beserve Fund....... Yen 77,500,000 Head Office:-YOKOHAMA.

Branches and Agencies at: Bataria..

Newchwang.. New York. Osaka. Peking.

Bombay,

Buenos Arres

Calcutta.

Changchun.

Dairen (Dalny).

Rangoon.

Rio de Janeiro.

Fangten (Makden). Saigon'

Hamburg.

Hankow.

Harbin

Honoluta.

Kal Tuen.

Kobe

London

Los Angeles.

Manila

Lyons.

Nagasaki.

|_ Nagoya,

San Francisco. Seattle.

Shanghai

Shimonouse.

Singapore..

Boerabaya. Sydney. Tiantain

Tokyo..

„Trinaniu.. Tsingtau Viad vostock.

Interest allowed on Currant Accounts, Deposits received for axed periods at rates' to be obtained on application.⠀

*C/ARIMA Manager.

Hongkong, 27th October, 1994

Everything New

Shop New Stoc

Paljukinds of Indian and Cilom BENE

though absorbing some of the dollars available, has nevertheless considerably added to confidence in British financial policy and to the prestige of London as the world's

inonetary contre.

Chlef Benefits. 'Further, the consistency with which Britain is reducing ita debt and concerting short term into longer dated debt has also helped improve the value of sterling.

But to these factors must be added another cause--the increase)

the amounts lent by America to Europe.

Formerly the United

TRADE IN TEXTILES.

At the annual general meeting of the National Provincial Bank, Ltd., on January 29, Sir Harry Goschen, K.B.E., presiding, said China has been passing through very disturbed times, and trade in textiles is at present very small. Here Japanese competi- tion is a disturbing factor. In India we have to face consider- | able competition from Japan, for whereas

the share which this country had of the imports to India in 1922-1923 was 81 per cent, and that of Japan was 7 per 1 cent., in 1925-1924 this country a share fell to 89 per cent., while the Japanese proportion rose to 8 per cent, of the total. The difficulty of meeting competition arises from our high costs of pro- duction, of which the increased expenses of transport, fuel, wages, and taxation form a large proportion.

The aggregate deposits of the "big five" are £1,580 mittens, as against £1,541 millions "a year

80 last... ago and £1,519 millions at June

LOCAL SHARE MARKET.

OFFICIAL QUOTATIO VS.

HI AL

MARCH 10. Nam

xok

Stock Exchange

9/2/2

H.A. 8.C. T..on selling case

London!****

MARCH 10. Sharabrokers' Association.

1/3 1,2 0731-

b. 1830

b. 821-

211

b. 97

and on Bɔanubaj !.... 973) Postkong Banks 1 30 a. 173740 i London-£140 v. Chartered Bank, an im 2115. b. P. & D. Rank

Fast Asia Bank *** Merantile Bank AB E-ULD.

jasarančes ripe Manton Lusneance...

North Olins Idaarises Dalia Imsarvode k „Insurance Fangbrzo

THE

Ohina Undien Pira tavaraasas Chins Fire Tyne Hongkar Fica

shipping

$42) h.

3.10

$195 5

-b. "0." -18)

Marohi

TUESD

Mr La Adler Mlas A-and-1. Mr. and Mrs P.-M. & Hamilton

Alten G. Harriman Mr RT" G. Altkon Mr W.: D. Hawor Mr W. 8. Allon. Mr and Mrs. Mr and Mr. A. W. Hersee

Van Andel Mr & Mrs A. 1 Me.G.

Apfelbaum, bir AB. Jahnston Mr 4 Anny

Mr & Mrs E Keller Mr and Mrs J, TMr Vrs. Kelling

Bagran

Mr F. O. Ranhan Mr O. P. Kembaw

MK Bardoralll Mrs W. B. Kimball Mias K. Barlow Mr and Mrs Jean Mr & Mrs M. Bral Knoth

..

Mr R., Felllion Mr and Mrs IR.. Mr V. Benjamin

Kratkman

Mr. Bennett Mr and Are 0.

Hr R. G. W. Be Lauri

prend

Mr H. Bickerton

Mr R. J. Birbook

Mr Blanketsvi :

Mr M. Blane

Mr G. Bowick

MrT. B. Brawa

:

Ma P. P. Lefevre'.

Mr E. Liddell

Miss H. Lille

Mr MP.D. Maryba!!

HF D. Macalla

Caps, &, W. McKin MA. W. G. MD. Moleod

Brownes H L Morklo Mr. F. Buchanan Burga Mr R. V. Baidin Mr JH. Mc- Hr G. W. Barns

Michael Mr E. Canton Mr.K. W. Miller. Mr B. Christopher-Capt and Mrs 1.

Mills Dr. Christopherson Mr. and Mrs T. B. Mre Christopherson Moore and childr Mi and Mrs W. A. Mr R. B. doorhood

Cornst

4. Mr A. 8. Murch Mr 3. E. Dangoar Mr W. Narwood Med Mrs B.. Doan. Ir B. H. O'Farrell Mr W. Bagen Capte de Men Foarse

* Pesto

"RRFULEN BAY MOTEL.

Bannerman gàn

Mr & Mrs O. H.Me and Mrs More

Mr & Mai£. Odell Mr & Mrs T. D. W. and childian

Bannister" Mr and Mrs J, N. Mr & Mrs J. Bahar Parker

And child Mr and Mer du 0.

Patos Mrs E. Barke

Mr and Mrs. A.E.A. Mr. and Mrs T

Carleton

Fehryver Mr and Mrs F. Mr CB. Shank

Daking Dara Mr & Mrs W. 0 MF Mrs 1.... Vien der Steen

and

daugh orLab-Col. & Mrs Ste- GP.M.phens

Hr

Bodgson

Me and My AP W. Mr and Mrs C.- E... Vans dal..

Kechler

Mr V Veraoa

Mr and Mrs A. C.Mr and den F. J

Languir

Wright

-Mr & Mrs E. Laud

PBAK HOTEL.

March 2

Dr.J. W. Anderson Mia O Kennedy Mr 8. A. Arthur Mr M. F. Koy MiG E R. Bally Mr and Mrs E, K Mr and Mrs Is. U, F. RIF

Bellamy

Mr&Mrs A. Lane Mr J. W. Bonuse Mr and Mrs B. H Mr and Mrs T. G. Langston

Beanett

Mr K. Larsen

E EAST ASIA

GBKAD OFFICE, HONGEDINGL

Authorisal:Capital, 2.

($10,000,000; ·

Palitap/Capital $5,000,000.

Haserre Fund - 11,000,000.

A DIRKOTORS

Hon. Mr. Chow Bhou Son-ChalBRE

Fung Ping Sha

Li Keon Gana.

F.K.Kwok

Ng Ching Lark

Mox Ching Kong

Vona Yuu Tong Hoyub Tal

Ken Ying Po

rong Wai Tùng Chân Chiến Bin Every description of Banking and Exchange. businem tranenated. Loans granted

pprored securities.

SAFE DETOSIT, BOXES sa let.

KAN TONG PO,

Chin Maunger.

Hongkong, 18th February, 1928,"

NEDERLANDSCHE HANDEL MAATSCHAPPIJ.

ČRTESKLANDE TRazors Bociter)

ERLANGORAND 1994; Horexons Buizen Entabluem: 1905, - Authorised Captai 33, 150,000,000 £12,500,00 | Pald-Up Capitai...G. 80,000,000 £7 6,686,67% Reserve Fand ......+€. £0,045,02% % 1,870,619 Special Reserve.... 21,600,000 £ 1,888,880

Mr W. H. Bourne Me and Mrs G. D.

Mr M. J. Bresn

Leys.

Col & Mrs C.Russell Miss Loys

Biowa

Kiss F. W. Brown

Maja A. 8. Little

M. 8. D. Carothers S

LM.8 Lloyd

Capt. & Mrs J. O.Mr J. D. L'ord. Carpenter Mr WB.Lock

Uisland.

and Mrs W.

58 b

£15-1/8b.

A+

743 b..

140 D.

0-755-

140

1813 84

D. 367.

̈ss-1.30,1.00)

Mr B.H

195.

Mir

Mia M.Cooper

70 n..

.715

-665

Mrs H. Cormack Mr D. O Mr and Hral W. A Mr and Mrs. T.

Cornell

Martin

Legi

*#981 6395,

34)

-14,741 a.

4.70

Danby

38 11,

E. 93

$130..

140

bio Mr. and

436 D $78.h

n

A3/

Duncan

80

$17-174 a.

n 19 10

$265 B.

1. 15

1821 - £4.

a 41

$7.8

123

TT.K. Steamboata ne

Hongkong Tugs end. Lighter. Indo-Ubinas (Prot.

(Dell) (ILE. Reg.)

Shell. Transporta Star Ferries... Water hoste

friental Nav. Do.

efineries

China Bogst Malabon dagar Winiar

看好

63+ b

0 mb. #111 b.

7 n.

Kalen Mining Adr lenzkate** Bhasaghai Loans S'hai Explorations... )'65:10 n. Bingle Langkats Run

Trogoh Mices

Ural CaUp Ben met Con

19.

# 330 a

68.

Sf. Er.

"P, 9.00 b 280:#

Donks, Wharves, Godawns, do,

B.K. Wherts

•

H. & W. Dock → *** Shal

Docks

Now Engluerings

A. B. Baginoerings, catal Bbaoghal Hongkawa

$4-59 61

Mr and Mrs J D.Mrs J. HeAinsh

Mr R McGrogor

Birs

Mra Sameer Bill.

MM. Eills

Mỹ and bis W.

Eastuos

Mr A Forbes Hiss M: Forbes :"

HEAD OFFI0% 2--Amsterdam, EASTERN HEAD OFFICE :--Patavia,

BRANCHES -Bandiseromain Bandowng Boat bay Oberibon ·Damber

Celentle Djokjakaria Kota-Radja Pad Part Bottarian Singapore

T

Tw Hague Kobere Makarongest Mmdan Palembang Peculongan: Pontianak Bangoon Sanarking Shinghal Soera baia Gourakarta (Bolo

LONDON HANKEES:- National Provincial Bank Ltd. - Correpondents all over the world

BANKING BUSINESS OF RYBET DESCRIPTION..

W. H GROSKAMP,

Agust

Hongkong, November 4, 1994.

司公理管業實法中

SOCIETE FRANCAISE DE-

MAN GERANCE

DE LA BANQUE INDUSTRIELLE DE CHINE

ETABLISSEMENT PRAKOO

CHINOIS.

(Incorporated in France).

6. Chater Road, Victoria, Hongkong,

HEAD-OFFICE: 74, Rue St. Lazare,, Paris.

Subeeribed Capital

paid-up Reserve Fund,

I fully

Frs. 10,000,000 Fra: 10,800,000

Working fund provided by

THE BANQUE INDUSTRIELLE.

DE CHINE

Fr. 50,000,000.

BANKERS:

Paris: Societe Generale, Banque

Nationale de Credit

Banque

Paris et des Pays-Ba London: Midland Bank, Ltd. New York: Irving Bank Colombia Trini

Co.

Every description of Banking and Exchange Businican transacted, Corres- Apondents throughout the world.

Mr E E. Mimmsg'

M. FITZ-HENRY,

Manager.

10th November, 1924.....

J.Mr and Mrs FW THE BANK OF TAIWAN, LTD.

Munton

Miss M. W. News

holme

A.M; A. E. Panu

Mr R. J. W. Foster

Mias G. Fothergill

Mr

Mr and Mrs H. R.

Remington

Mr. A. Ritche

Ltd. & Mrs O

Sanders

and Mrs. F., P.Mr & Mr.Scott Franklin, Mr. B. P..Shaw.

La E. C. Frederick Mr B. H.Skelton

He and Mrs W. D.Mr. and Mr T 1.

하

Mr and low

White

Smith

191-

b 130 130

b, 111

$7,10 b. 9.40] **.

b.: 99

...: 1199 b.

anda, Hotels & Buildtags...

F., &8bai Hotels € 17; a "New 17 H.K. Developments

0 of 80. Hongkong Lande

93521721.

Humphreya

Kowloon Lands Land Benlamations Prinoes Building

(Taiwan - Ginko.)

Incorporated by Special Imperial

Charter, 1889.

Capital Subscribed

Capital (Paid-up)

Reserve Fund

Yen 60,000,000

Yen 52,500,000:

Yen 12,980,000

HEAD OFFICE: TAIPEH, FORMOSA,

BRANCHES:

Mrs Geo. W. Mrs. His O. E JAPAN-Tokyo, Yokohama, Kobe,

Stubaluga

Osaka, Moji

Mr and Mrs B. A.Mr and Mrs H. F. L ↑ FORMOS-Gian, Kagi, Karenko,

HAI

-Miss M. B. Hall. Mr. and Mrs ..Hancock

Mr J. B. Fawker

Mr and Mrs W.

Hokor

Stardes

Mr. U.P. Sturdes J.Mr.J. 8. Thomson Mrabe 0.Thwaites Mias Thwaites add J.MA, W. Tickle. and Mrs H £0 Tamer Vise

Mr G. M. Hems

Lady

worth

(b 16.80 s.17/17) Now sa 171.8 Lt Comdr. G. F.Mr.

D. TO Conte

b. 19t

Ewo Cotton Mill, LAA.

B.K. Beatty, men spe HLK. Territorials, appen Rural Land, Cetton Mills,

$150 n $80 b

$10

the 150

$18 30.

Kung Yksin ya Leon Kang Mows

Orientale...

d

Shanghai Cotton.

Coments

States investor was but little did countries one of the most hamper. posed to place his money in foreigning influences upon trading opera securities, and he nich preferred tions will thereby be removed, and a domestic investment: but to-day stability in sterling is an important he takes a wider.outlook, and large link in the chain. It must be re amounts of American capital have numbered that unstable exchanges been sunk in mid-Europe,

What are the chief benefits that versa, and there is nothing more

react on the price levels and vice/Chias Lithia (Old) we stay expect on the return, of the deterrent to business than under

to parity ?

tainly as to what the course of the

One is the reduction in the instal-exchanges and prices is likely to be. menia on Britain's American debt. When the debt {tlement was announced the

set. Things Still to be Done.

Dem "Combined 1, #223 h28. China-Borwood 357 ****

chins Providenta $16)

dos

Providents, Comdondan

Dairy Fazzile de

H.R.ctrics

Maso do Hongkong and Canton Loen

1395

Now 132 b..

a. 50 Now 82 a.

10.106.

o

58): 2, 57 an

Peak Tramways (O)=

8.

a. Kow:15 2.

stood at 4.844 doolars. If and on the flourishing condition of the

We may, congratulate ourselves - Hidagkong Bayala ope 18 1 when it reaches, parity and stands £ but we must not thereby allow nt 4,864 that will mean a saving of ourselves, as an industrial nation," £1,660,000 a year on the debt to rest on our oara. We must ro- 3team Laund instalments, or 4 par cent member that we have many tasks Shoe

Then, again, it is obvious that the sterling price of Britain's im- ports of foodstuffs and raw materials

Further, when real exchange stability has been established în all

FOR COUGHS

ahead of net

British prices are still higher than those ruling in America, and this

fore confidence in a par rate cha

blished. We have still to:

(b. 19 Naw b. 8: (Domt, b. 1

Bole

Capt. B. F. Walker, Mr H. Howell. Capt. & E. WAU Hi F. L. Jonzing Capt. A.J L. Whyte Mr T. L. Jenkins - Miss O. Willmott:**** Hivi O. O Jenkins. Me and Mrs. B. D. Mr G 8 Xugh Jones Wood Mr W. A. Fordian. Mr G. C. Worall

* PALACH HOTEL.

MrA Aroli

Mr G. Hasiewood Mr H. A. G.-Barrett Me J. Jack Mr W. A Bennett Mr Malaw Mr RW. CampbellEJ McDonald Mt.P. B. Chichgar My B. Ja de E Mr L. B. Cox

Ke W. 8. Ond Me 2 Simpson Es and En. N. B.Mr. H. Smith

Darsena Bora Uspt; L_W. Smith |

· My A. EL. P. Davies Mis O. Stringer sad (Baw n.11 Cons 37) m.17,50 Me H. Davis

-Ke-8. Forshamida 2 Me All P. Tannen (b. 16 Now: 9

Comb. b. 288 sa 20

|_ Mr and Mrs Hibaum

·Goldenberg Mr G. Takoch

Ms. A J. Wadmors Mr W. Waltar

Kr.A. HAI MAU. Hake

T

Keelung, Makung, Nants, Plean, Shinchiku, Talchu, Tainan, Takow, Tamaui, Tehyan, Ako: CHINA-Shanghai, Hankow, Kiukiang, an Amoy, Foochow, Swatow, Canton. OTHERS--Bangkok, Hongkong, Singe- pore, Sourabaya, Samarang. Batavia, Bombay, Landon, New York.

LONDON BANKERS: London County Westminster, indi"

The Basha Gemsepsodent in the Commerc Centrar in Ele: Burópanal Centiberty Tranny STAR - shurin paisytao, Japan, Indo-Chinny Siam, Indiag Philippias danda Java, and Dacula Jadise, Ast

alia, America: Alidon; 4to.", da

Intepan allowed on Calimat Acoónat, and Tizad Depodia stratos which will be quoted on applies

TAMAMOTO, 44530 Mannger.. HONGKONG BRANCH, 20 *1/28. Dea Voux Cond Genteuli

Hengkong, blá Jung, 102de

THE BANK OF CHINA

O

QUEEN'S

The champion of England, for that is what Frank Goddard still 1" technically, wat beaten in hollow fashion by a comparatively, un knorra Frenchman recently. This, together with the inglorious

much superior, „dard, should make us.

revive our ancient bởi bà The Borlar |should:4ike charte

Dionshi

Branches and Sub-branches all over China and Gorroer lanta's in! Europe, America and other parts of Lasdon Banlon T

caland Union Bank of "The Guaranty derarti Cant

New York

BIND BD