1925-05-16 — Page 2

Page

HONGKONG & SHANGHAI

BANKING CORPORATION..

dead Orpice: HONGKONG

AUTHORISED CAPITAL........... $50,000,000 Ímmund and FULLY PAID UP $30,000,000 RESERVE FUNDA:--

STEELING... £ 4,500,000. SILVER...... $26,500,000

$20,000,000

RESERVE LIABILITY, OR

PROPRIETORS...

COURT OF DIRECTORS:

G. M. Young, E-Chairman

E. P. White, E-Deputy Chala

·W. H. Bell, Hogy

A. H. lampion, Zeq.

Hon. Mr. PH. Holyoak

T. G. Well, K..

CHIEF MANAGER: A. H. BARLOW, 'Esq. Cazager: Shanghai-G. E. STITT, E

LONDON BANKERS, Westminster Bank, Ltd.

COMMERCE

CHANGKAT SERDANG

ESTATES.

FROM LOSS TO PROFIT.

AND FINANCE.

The report of the directors of the Changkat Serdang Estates.. Ltd., for the year ended January 31, 1925, states that the profit and losa account for the year shows a

INSURANCE NOTES,

ABSTAINERS AND GENERAL.

One of the features of the recent speeches of the Chairmen of our big insurance offices has been the note of caution which has pervaded their remarks, At the meeting of the Scottish Provident it was point ed out that insurance as an "invest

of

THE CHINA MAIL.

BANK OF SCOTLAND.

INCREASED NET PROFITS. “

The Bank of Scotland. has issued its results for the financial period ended February 28 last. Its net profits show an increase as com pared with the 1923-4 period of some £10,000 to £365,979, and with the balance brought forward also £17,000 higher the total available of £468,124, against £440,928. The directors repeat the usual dividend

1924-5 1924-5: 1923-4. 1922-3. 1923-4.

£

EXCHANGE

Hongkong, 15th May, 1995..

On London

Bank, Wire. 1

On demand...

****/*15/16

30 day's night... ***

4 mon the gbt Credite. 4 months right am1/3-1 on Part-

Doonmentary, 4 months sight YS-I

On demand.

Hom

1045 Credits, 4 months' sight ....1145 On demand... On New York- On demand... Creditu, 60 daya' sight ... 164 on Bombay-

Wire

... 149

On demand

Whe on Singapore

On demand

་་

On danisad 2" On Manila-

16

On demand

On demande son

108)

'100.

On Shanghal-

BD. F. Palth, E. Hon. Mr. A. O, Image | Fet profit of $21,436,58 (as against ment" as the catch phrase of the of 16 per cent and the allocations | W. Pattenden, R, a loss of $7,372.70 for the previous day was tending to obscure the is £125,000 and £60,000 to the 1.A. Plummer, 2 year) which reduces the debit equally important aspect of inaur-reserve and promises accounts re- Onalostia-

balance of $26,647.10 brought forance as a protection. Caution spectively, and devote the increase ward from last account to $5,210.57.was also the keynote of Mr. Samuel la profit to strengthening the carry This is carried forward to next Shortt's speech at the annual meet forward, which is £128,824, 06 account. The area under cultiva ing of the Abstainers and General compared with £102,149. Below tion remains the same as at the Insurance Company. Mr. Shortt we give the main figures for the close of the previous financial said that the insurance companies past three years ---

Britain year. Low-lying areas of the

were very strong estate continue under grass, and financial organisations and formed the remainder of the estate is a great medium for thrift and na. or strip weeded. tional saving. They did for the either clean Efforts

being are

made fo individual by way of investment establish leguminous plants and what it was impossible for hint to to enrich"

impoverished do for himself by the accumulation the soil.

and investment of comparatively Diseases. A kamalt amounts, and at the of work end of given periods, pass- was performed during the year ed to the investors or under this hending with entirely their successors the accumulated results of the trusts undertaken for satisfactory results.

Tapping and Production. The them. Many of these companies. following table shows compararepresent different social, com itive results.

CURRENT ACCOUNTS opened in OOAL CURRENCY and FIXED DEPOSITS Tovaivad for one year or shorter perioda Local Currency and tarling on terms which will be grated om application, ‹

Hongkong, Blet February, .328.

HONGKONG SAVINGS BANK. H: business of the above. Bank is TH

conducted by the HONGKONG AND SHANGHAI BANKING COR. PORATION. Rules may be obtained on application.

Peats and considerable amount

11

"

SATURDAY, MAY 16, 1925.

WELSH NOTES.

PRIME MINISTER ON THE CELTIO SPIRIT

[HY AP RHYS. Į

Sponlting as the guest of St. David's Society at the Connaught Rooins recently, the Prime Minis ter said that there were days in the life of a working Prime Min ister when he was able, not with, out difficulty, to get away from his urgent work and disappear forwa short time unseen by his attendantá and unknown to the Press. little while ago he was able so to disappear and found himself by Recident in the studio of a Chelsen sculptor where he was shown sa exquisitely beautiful statue of a It was the young shepherd,

bruzan

original pluster of the

War.

A

THE BANK OF EAST ASIA LIMITED;

HEAD OFFICE/HONGKONG, Authorim! Capital

$10,000,00

Paid-up Caplial $5,000,000 Reserve Fund... (1,000,000,

DIRECTORS:

Hot. Mr. Chew Shop Bon--Chairman

Fun Ping Shan

LI Koon hun

P.Kwok

Ng Ching Luk

Pong Wit Ting

Mok Ching Kong "

Wong Yan Tong

Eura Bi

Kan Ying Po

Chan Ching Shok.

Every description of Banking and Brehange

trani Dlect butalsens approved secure,

"

Loop

granted

SATE DEPOSIT BOXES to 1.

KAN TONG PO,‘

Chief Manager.. Hongkong, 15th February, 1925.

NEDERLANDSCHE HANDEL MAATSCHAPPIJ.

J

(NETHERLANDE TRanges Boutirn} „

CARLISHED 1894. § Homerons BramOK STARLIKED- 1906,

figure which now stood in a noun-Authorised Daylist, 150,000,000 £12,500,4

** Pad-Up Capital .....G.. 80,000,000, $ 0,668,079- tain village of Merioner, the Rare Fund, 20,048,089 8.1,470,418 19

...par.

dis.figure of post who fell in the Special Reservo...G, 22,500,000 £ 1,388,130- * Canton colas

100330 2, čís.

HEAD OFFICE :--Amatærdnen, Bar Silver in Hongkong 10 pm.

EASTERN HEAD OFFICE:-Batavia, Chinese Copper Cab... 10% pm. Chinees Copper Cente....

BRANCELES :- Rate of Native Interest 67% Chinoes Sub Calz 31% dia. Hongkong Suh Oain. ..... par.

20 days' sight (private paper) On Yokohama.---

1181 On demand Net profit 365.975 355.726 345,178 Gold Lent, 100 fine (per tael) 47,40 Brought

Sovereigns (Bank's daying rats) 8.89 forward. 102,149 85,202 72,978 | 8livar (par 04.

31.3/18 in o Available.. 468,124 440,928 418,156 Dividend.. 164,300-163.779 157.955 Hongkong 50 pente enbe'. 2% dia..

Do. per cent...

16 16

16 Reserve... 125,000 125,000 125,000 Premises. 50,000 50,000 50,000 Carried

forward. 128,824 102,149 85,202 The reserve fund and balance mercial and industrial interest and carried forward now amount to make their special appeal to these.gether to £1.178.824. against a

Competition in insurance grows keener each year, and there has paid-up capital of £1,325,000. been a great tendency to merge insurance companies into large corporations. There has been a of extravagant suggestion, 100,

Oharibor

The Hague

Djember Kabei

Makasar Medan

Palembang

Pecalongas

"When I think of what Wales means I do not think of your in- outdustrial regions, contined the Bandiermals Bandgung. Bombay

Prime Minister "because my mind, Caletta in Wales as in Englund, always Plakakurts

Knta-Rail goon Burk to the country, and I. Padang think of thus Egury is a type of Penang YOUR" PERSONAL APPEARANCE what our rural civilisation in these, Rotterdam Abould be one of your greatest assets. islands no produce. Here again Blagapore

Tagal The pan or woman who suffers from is a proot; of the truth of the old chronic constipation or sluggish liver aaying that when the Celt goes cannot look well or feel well. A pimply forth to battle he has always fallen, an order, or a future husband.

Total output in lbs. 1923-24 63.337: 1024-25 150,076; average gross selling price per lb. 111⁄2d INTEREST on deposits is calculated and Is. 2d.... respectively; fo.b. on the lowest balintcs during each com cost per 1. rod, and 734d; all-in ploted Calendar Month at por cont. cost per lh. Is. 040, and 1oid; per annum. Should there be no balance net profit per lb. 1924-25 34d., on any day in a month no intareat will and net loss per Ib. 1923-24 14d. terms being offered for new bust. killed and many hurt and fifty sallow complexion may leas you a job, but there is the additional truth

be

allowed for that monthier at their

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

For the Hornkonu & BEANRZAL Ba CoRvRATION,

... H. HARLOW,

Chief Manner Boogkeng, in Jumuarg; 1925.

second Abstainers, and General is con-

cerned, the Chairman said that the Directors were quite satisfied that it could stand upon its own merits, and they Tooked forward to the future with confidence, fully be- lieving that its individuality was an asset to both the policy holders and the shareholders.

The company's standard produc- ness. That highly undesirable tion under the compulsory restrice state of affairs. But sur des the tion scheme for the restriction year was fixed at 275,007 lbs. for the current (the third) restriction year, the standard pruduction has been increased to 279,897 lbs., which allowed of the export, during the company's financial year, of 154341 lbs. at the minimum rate of duty. At the close of the year the labour As in the case of many other. force on the estate had been re- | institutions, the Abstainers, and THE CHARTERED BANK OFduced to 126 coolies, which was General had an extremely pro- Dur- all requirements.] fiable experience last year. INDIA, AUSTRALIA & CHINA. sufficient for

Health throughout the year wasing the twelve months, the funds good, Mr. E. W. Battensby has advanced by £147,834 to £1,930,887, continued to manage the company's while, in addition, the investment estate throughout the year.

reserve at the date of the balance sheet figured for £72,676. The gross premium Income rose by £19,942 to £257,562. New life business at £733.369 constituted a Directorate. The board at pre-record, while the mortality in the sent consists of the Hon. Mr. C. Asbtainers division was only 44 Eveirit (chairman), Mr. W. A. Sims per cent. of the expectancy. The and Mr. C.V. Bailey, Mr. C.V. Bailey net rate of interest earned on retires in accordance with the pro- the funds was £4 Igs. 10d. per visions of the company's articles cent. of association, but being eligible, offers A. E. FERGUSON, Manager. «Hoogkong, 'Apr 16, 1926"

INCORPORATED BY ROYAL CHARTER, 1858.

HEAD OFFICE: LONDON

Paid-up Capital

.£3,000,000. -£4,000,000 Reserve Fund. Reserve Llability of Pro-

prietora

......................... £2,000,000

FOREIGN EXCHANGE and General Banking business transacted

CURRENT ACCOUNTS opened and LED DEPOSITS received for 1 year shorter period at rates which will be moted on application.

MANQUE DE L'INDO-CHINE.

HRAD OFFICH

26, honlevarð Bausmann, Par Bubscribe Capliat... Tx. 72,006,000,0 Paid-W Capital Fr. 68,400,000,00 Baserri Puide ... Fr. 59,687 289.54

Battenba Denton

Djibouti Haipboa

H skow

BM

BRANCHES

Hongkong

Mou he

Noumes

Papour

Paking

Phom

Penh

Pondicherry BANKERS:

Balgon Bhanabai Finapore Tintin

Tarant

Yunbenfu

IN FRANCE Comptoir National Kacompt de Karis; Credit Lyonnais, Banque de Paris at det Faya-Pas; Credit Industriel et Commercial

Cheerle

Jakom ŠTATKajad.

Hongkong, March 30, 1924,

Visiting Agent-Major G. N. Stevens has paid regular quarterly visits to the estate during the

year.

himself for re-election." Auditors. Messrs. Gattey and Bateman retire, but are eligible for re-election.

RUBBER RISING..

YIELDS ARE INADEQUATE.

Rubber is steadily rising, says

Home Financial writer and although the public has not yet come in very largely, some of the more enterprising trust companies -particularly those associated with this industry-have been picking up shares very steadily and look like doing exceedingly well-out of the operation. Some financial guides are pointing out that yields, based on present prices and last

The policy of the management, pointed out the Chairman, had been to build up and strengthen the reserves, and to keep them available for any contingency- which might possibly arise. The investments on Stock Exchange securities amounted to £1,209,196, and after valuation at market prices they showed appreciation on the year of £11,319, which was carried to the investment reserve fund.

" BURDETT.

Manila, May 14-Eight were

houses razed to the ground at Staton, Orlente Negros, as the result of the earthquake on May 5, according to delayed reports. One house containing five adults and one child was swallowed up and all perished. There were three tidal waves. Courtesy of Daily Bulletin.

the

then not keep the internal

machinery in good working order with that when he falls be proves that

LOCAL SHARE

OFFICIAL

MAY 15.

Name

- MARKET.

the aid of Pokettes, the dainty little feats which mean more for civilisa laxatives and liver regulators, itin thun muy victories and which easily be done. A small dose of Pinkettes

rity are in themselves victories - ever- when needed ensures daily

regulo a clear complexion, buoyant spirits, Insting." digestion. Deslors everywhere ell The report of the Prime Minis- Pinkettes, or post free, 80 cents the vial, ister's speech was particularly in- from Dr. Williams Medicine Co., 80teresting to ne in that I have Kiangse Road, Shanghai..

rently been rending some of the factors which contributed to the rural civilisation" of which he Spoke. The modern system of" Welsh education which finds ite completion in our own day had its beginning in a little country school in "Carmarthenshire, maintained by the pence offered by the poorest of the poor at the celebration of the Lord's Supper, It was Grifit: Jones of Llanddowror who in the eighteenth century interested him. self in the industrial life of Wale's und helped to set afoot orgulisa- tons for lifting the peasant out of le appaling state of ignorance.

QUOTATIONS.

10.30 AM.

Btsak Exchange.

9197 73-1/2

Bank. B.S.B.C. T.T. on selling rate

London

MAY 15. Sharebrokery' Association

and on Shanghai Hongkong Banks 1913 b 1265 London—£1394-b Chartered Bank

£111 b. Mercantile Bank A B £10-1/2 b. 0 £13-1/8 b. do.

#

P. & 0. Bank ... East Ada Bank marins Insuranoss

Canton Insurance... China Czdga kelip m North China Tesurface Onion Insurance and pa Yangtze Insurance

Fire Insurances

China Fire Insurance ... shipping

Hongkong Fire Insurance.

Dongianas

A

B.K. Steamboata.. Hongkong Tuge and Lighter In. Indo-Chinas (Pref.)

do. (Def:) do. (HK. Reg.) Stall Transports - Star Ferries 19 Water-boats... Oriental Nay. Co.

Bank..

1/1} 73-1/_

b 1270

b £#1-1/1 b. "A" £99) b. “0 £19 b. 2114

130

***

£118. 971 a

m. 100

444

780 b. x.d.

b. 748 z.d.

3.90 b. 81.2.30 sa

b 2.25

-

T140 □

*

140

100

* 185

49 b.

b. 40

200 the

b. 100

870 b.

b. $50

a 52

39 a

88.80

15. 4,8J

58 n.

13, 28

110 6.

130 m.

At-b

B. 93/-

804 b. 89 a91-3. na

--

A

17-1/4 285-.

sa. 17

255

83 a

= 83-1/2

DI ..

■ 511

67/- b.

Gomb, T25-1# b

b. 26

Shanghai Loans

S'hal Explorations... T4S

Tiib.

A. 8

n. 11-1

Ratby

Tronoh Mines Ura! Casp.

54 D.

8/- 0.

191 b 1918

119 117 55

1902.

T123 b&am

Refineries

The 1925 edition of " Burdeti," or the Stock Exchange Officials Intelligence, to give it its correct designation, contains the parti culars of 1,600 more companies than were given in the 1924 edition, as well as details of about Mining 100 various Bond issues that were

new

a

DF LONDON: The National Provincial year's dividends, are inadequate.not found in that volume. Edited Unlos Bank of England, Ltd.; Comptals Of course they are, but to attempt by the Secretary of the Share and Mional d'Escampia de Paris Credit Lyonnte to estimate the value of a rubber Loan Department of the London IN NEW YORK J. F. Morgan & Co,share on the basis of its dividends Stock Exchange, and published Freook Anrican Banking Corporation; when it was selling its product under the sanction of that body, it Bamaty Trust Co. of New York.

from 10d. to Is. per lb., with a time is the host trustworthy guide to Interest allowed on Current Accounts and when it is selling it for Is. 6d. to the

many thousand securities Find Deposite according to arrangement. Is. 8d. is surely somewhat farcical. known to the Stock Exchanges of very dmcription of Banbing and ExchangIn my opinion it would be hard to Britain. · An innovation in

go wrong in buying rubber shares the A. LECOT,

right direction has been at the present moment, although made Manager

in the

volume, some, of course, are better than particulars being, given of others. Some of the new promo- number of private companies. tions too, are uncommonly good. Now

that many companies although, no doubt, some rubbish are able to come into existence or will soon be taken out of pigeon to enlarge their capital by publish- holes and passed on to the publicing "for public information only As anticipated, the depression in meagre details in the advertise- tea proves to have been overdone ment columns of the. Press, In- and it would not be surprising if a

stead of through the issue of a slight revival were to occur in this public prospectus, the publication section: A share that appears in Burdett of this further informa- undervalued is Assam Consoli-tion should serve a highly useful dated at 18s. This company sold purpose. The cost of the volume the bulk of its season's crop in the is £3, the outlay of which many middle of December last when investors will find in the long run prices were high, at a very favour to be quite a remunerative invest- able figure, and therefore is not ment. affected by the fall that has taken. place. An interim dividend of 4 per cent, was paid in December.

THE YOKOHAMA SPECIE BANK, LTD.

Betablished 1881.

Klapkisi (fully paid-up) Yen 100,000,000 Honorre Fund me. Yan 80,500,000

Hand Offre:-TOKOHAMA,...

Menuchas and Agmeles at:.

NewchwADE. New York. mon Xyzn.

Osaka Peking Rangoon (Dalxy). Rio de Janeiro.

((Mukden). Buigen.

San Francisco. Seattle. Shanghai,

Bhimonoseki Singapore. Boerabaya. Bydney.. Tientsin. Tokyo. Tsinanfu. Talagtas Vladivostock. Entrent allowed on Current Accounts, Deposita received for fixed periods at michen“ šo be obtained on application.

C.__ARIMA,``

Manakor

JAKOTA.

Fyrch, 1925.

VINE JEWELLERY

ement, Eosper, & Wedding Bioja

[SPECIALTY:

kig het grade it the Kolezy, WINDSOR BROS.

Nathan Road Howloon

SELF-HELP BY FARMERS.

GOSSAGES' SOAP PROFITS,

POSITION MAINTAINED.

and Sons, Williru Gosauge The new saleyard which the Limited, Widnes, Minister of Agriculture is to open hinge ordinary shares (£600,000) soupmakers, at Banbury," says the Dally have been held by Lever Bros., Chronicle," "is a very interesting Limited, since October, 1919, ro development of agricultural' co operation. At a cost of £30,000 port that the sum in the profit and (with a loan of £10,000 under the account at the close of the Trade Facilities Act) a compray of inancial year, last November, wag Oxfordshire; Warwickshire, and £174,544 after providing for all charges. This compares with. Northamptonshire farmers have established their own market, £71,826 for 1922-23, 4174,470 for

6-11-22 ul A118 837. Cat 3027 21 where sinckerzisers inch 125zlasu. can not only sell direct 10 each position i other, but also direct to the butchers 22,500 for first preference dividend ible central des öts

(5 par cent.), £48,750 for 63 per cent. preference dividend, and £100,000 (20 per cent.) for ordinary dividend, with £8,204 carried forward, as against, £3,570 brought in. The rate of the ordinary divis dend was not disclosed until 1920-

"The system is one which was advocated by the Linlithgow Com mittee. This is the first example of it to be started in the Midlands For the South of England. We hope thar it may prove a great success, and be followed by the establish, 21- wlien- it was 15 per cent, ment of many other elsewhere," has been 20 per cent, each year

since then..

It

China Sugar *** Malabon Bugar

Bengoets

***

Kallan Mining Adm...... Langkats...

Bingle Langkats

IM

Docks. Wharven, Godowna, ko.

H&K Wharts.im

H. & W. Dook

Shanghal Rongkown

Now Engineering

S'hal Dooks

Cements...

C

B. K. Engineerings

Tob

Lands, Hotels & Buildinge,

H.E.& 8hat Hotels 18 . New

Hongkong Lands.

A.E. Realty in

Kowloon Lands

Humphreys Estates

Princes Building

H.E. Territorisis. -... Rural Landau s Cotton Me.

194. 194 za 128

h. 9

b 124

14:05-18

195

4.10 b

b. 4.00

30-1/2

1101

160 ₪ #6.8 a,

5. 5-1/2

10 n.

Ewo Cotton M, EdT 11.10 5' Kung ika Laod Kung Mows.» Oriental. ' m Sbangbat Cotton

Tangiazepood. Miscellaneous,

Cotsents

+

04.

T. 100'D T 57 n. New 3.

Il ǹ. New Dn. Doments "Combined. 28-116 &

China Lights (Qld) (kapak

do (New) 3. Comb China Providente 16 s. New 14.10 m. HK. Developmenta ***E. 60 Centa

46 D. 26) b.

B**+84 an 48

Providents Combined.

Dairy Farm an

B.K. Electroe Kacan do.

A. 160

.11.

*3.00 ́n. B) Now 23 n.

6, 19-1/2, New n. 2 (Oomb, h 24, 2010/60 [aw 18. 18 10-20 Comb n.' 15 New 14 10/ 1b, 70 Cedika kat Cobr 48-17

b. 1.

(Now)

New 10.20 p.

14 n 38-39 53 In Br

8.12 n

14172 b

b. 17619 New 10 ), b38-391

b. 23

b. 6.10

{b> 13} Ngw & 2!»1/2

7 อ

1 * 0 m 6101

Hongkong and Canton Icca Hongkong topo. 19. kopre Vombined.. Hongkong Tramways d Peak Tracy

aways (Old)... Do. Watson's W. Powell ....... Lane Crawforda

A.B. Construction. Nanyang Tabarco Sinoerer Mackintosh

·H.K Taxia Chitin ne

Trasid

diagapom Trains

[Đéc 4.Wing tally' pafo

park 2 Deli paldia United Aborto - (Foun

(Ordins

1.50 a 1.50-170/

Puntinnak Rangoon Samarang

Contaba

Tilat

Blogbal Boerakarta (Belə

Walterreden

LONDON BANKERS:- National Provincial Bank Ltd. Oorrespondents all orar the world.

BANKING BUSINESS OF EVERT DESCRIPTION.

M. J. HERB-3CHLEB,

"Hongkong, November 4, 1924.

Agent,

司公理醫業實法中

SOCIETE FRANCAISE DE GERANCE

DE LÀ BANQUE INDUSTRIELLE' DE CHINE.

ETABLISSEMENT FRANCO

CHINOIS.

(Incorporated in France),

$, Chater Road, Victoria, Honglodit

HEAD OFFICE: 74, Bus St: Lami

Paria

Babacribed Papital fully

paid-up

Rasarra Fund

Frs. 10,000 Fr. 10,89480

Working fund provided by THE BANQUE INDUSTRIELEST DE CHINE.

Later Wales was awakened still further by the trumpet voice of Howell Harris who travelled from one end of Wales to another aria- Piring ing by his powerful eloquence & half-educated, semi-superstitious people into a frenzied attempt at solving, in religious form the deepest problems of human life.

Prs, 60,000,000.

BANKERS:

Boclate Generale Nationale de Credit. Basque Paris et des Payi-Ban, London: Midland Bank, Ltd.

New York: Irving Bank Columbla

Ca

Tvery description of Banking va

The awakening intensified the Exchange Business transacted. Comm desire for education and gradually pondents throughout the world. a system of schools was organised;

10th November, 1924.

ad on Sunday the whole country was turned into a school, where

all men taught and were taught in THE

turn The first period of awaken. ing had discovered men of power- ful oratory; the second discovered men of quiet thought, of great power of organisation, with the gif of the teacher as well as the writer, of whom Churles of Bala was the type.

Developing side by side with the religious awakening, but quite dis- tinct from it at first, there was a -strong. literary Bwakening. Goronwy. Owen spent most of his life in England pining for a living in his native Anglesey and finally crossed, a human wreck, to dis in the, wilds of America. His longing for his country and echoes of its life, were the material of many odes to which it is generally accept. ed Welsh poetry owes much of the new tenure of life taken on at that period. Lewis Morris appealed boldly to his countrymen in favour of the Welsh literature he himself had done so much to revive and gradually the religious and literary movemente merged into the Eisted- dfod as we know it to-day. The strength of the one and the grace of the other of these two elementa. finds its expression in more modern. days in the lyrics of Coriog and, the odes of Islwyn.

It would have been treet it on the occasion of the address. which inspired these remarks some refer enco had been made to the not in considemble part which certain Englishmen have made to the moulding of the industrial civilisa- tion to which reference.was made by the Prime Minister.”

THE MERCANTILE BANK OF INDIA LTD.

READ OFFICK:

th, Granerhurch Brest, Iprdon, 19 (3, 4.

Authorized Capital

Bubscribed Capital

Paid-up Capital

Reserve Fant

BANKERS:

#3,000,000

$1,800,000

1,050.000

1,300,000

The Bank ol; Eracland in Midland Baux, LETA.

DESTROY AK Salaria, soLLEMONA,

www. CEMUA KAMA

Madran New York

· Binempa

MORSKONG "NEKADU, İmare Aisorbaām of Banking, and Rishining Party 20INTEMENT =domat ng "stival Amaunti ne?? (mas

· Bank per Ghazing on' Daly Bitamented on: Firm Dw | punčta at načine that may hơ vositalnað en spotiranial

|

·M. FITZ-HEN Y

Manager.

BANK OF TAIWAN, LIR

(Taiwan, Ginko.)

Incorporated by Special Imperial Charter, 1899.

Capital Bubscribed Capital (Paid-up) Xeserve Fund

....Ten 60,000,00 Yen. 52,5

Yen 13,990,0

HEAD OFFICE: TAIPEH, FORMOSA,

BRANCHES: " JAPAN-Tokyo, Tokobama,

Ounka, Moji FOKOSA-Giran, Kagi, Karadis

Kostung, Makung, Nanto, Phims Elinebiku, Taichu, Tainan, Talen Tamsul, Tobyen, Ako.. CHIKA.—Shanghai, Hankow, Kiukka

Amoy, Foochów, Swatów, Cauda OTHERS, Bangkok, Hongkong, Blac

pore, Boerabaya, Batavia, Bombay; Londony, M York.

LONDON BANKERS! London County Westminster and→

Pary's Bank

The Bank has Corvarnasteate is the Dogame("

ohuria Talagtas, Japan, Indo-China, Blam, Sadiu«

Centre is the Ruropean Confiseer, Baada, ka, Phaippine daclaycare, and Dasch Indies, duar

men, Afriowa

– Estorant allowed og Tuijat Amount, and FlyAS- Depuella strates which will be quoted on applian•

Z. YAMAMON,

Managez

KONSKUNG BRANCE,

1. Des Vœur Road Central. Hongkong, Skh June, 1984.

THE BANK OF CHINA.

行銀國

(pardaily Authorised by Fresid

Kandase of the Repable of crue

las the kind of Novembar, 1910, Axbberisil Capital imin 160 26

·KHAD OFFICE: POKING.

HONGKONG BRANCH, QUEEN'S ROAD CENTRAE. Branskes and Sub-branches all ovaj » Chian1and Corvasyozidenta ta- Furyje. {{Amerian, and other parts of the world. | London Hankara:---The National Previ

sini and Union Bank of England, Etá The Guaranty Trust Company od Hrn.

York

Yerk

Bankenom Tho, Meritas,

Ths. Equitably Truss Compnay ad Xx

faberset allowed on Current Rosent and Fixed Deposita. Terzia on applies,

BRvery daseription of Banking inaine

Grown franted on approved

TBUT