1925-06-04 — Page 2

Page

HONGKONG & SHANGHAI

BANKING OORPORATION.

HEAD OFFICE: HONGKONG,

AUTHORISED CAPITAL............... $50,000,00 *LonUxD AND FULLY PAID UF $20,000,000

KESERVE FUNDE *---*

STERLING..... £ 4,500,000

SILVER...... $26,500,000-

BESERVE LIABILITY OF

PROPRIETOR..arracaine,

CHIEF MANAGER:

A. H. BARLOW, E.

COMMERCE AND FINANCE

LAND SLUMP,

·TOXYO"BOOM BROKEN.

SHIPBUILDING

THE GERMAN -YARDS.,

THE CHINA MAIL.

AIMPORTS EXCESS.

וי

INCOME TAX

+

THURSDAY, JUNE 4, 1925.

› RED LIGHTS. “

A PICTURE OF THRILLS.

"HOW GERMANY PAYS,

BOW TO CALCULATE IT.

For olmed income up to £1,500, Authorities on Germun finance

There are mystery, thrills and writing in the European financial Take your total income and deduct Press have lately been indulging in one-sixth. Then, if single, deduct suspouse in abundance in Red Lights, which opened a four days mach speculation as to how last £135. If married, deduct £225. If engagement at the World Theatre. A recent remarkable full of land Some interesting details con-year's 2,700,000,000 marks excess you have children, deduct £86, for yesterday. prices in suburbs of Tokyo hasrning the Deutsche Werft, the of importe has been paid for. It 20,000,00 taken place, and has occasioned German shipyard which secured in winted out that the report of the the first and in additional £27 for would be unfair to those who much worry to the real-estate com the much-discussed contract for Reichsbank for 1924 refers to the very other child. If you have a see the picture later to give the plot in detall, but it is a story of COURT OF DIRECTORS: panies which, through propaganda the Furness Withy ships, are given success of its credit restriction dependent; deduct £25.

a young girl, Ruth Carson, the What is left is taxable income-abducted daughter of a railroad G. M. Young, Esq-Chaiman. und manipulation in past years in a message from the "M.G.C., policy, winch compelled persons H.P. White, Esq.-Deputy Chairman. have artificially raised the prices correspondent at Berlin. The con who needed cash to replies on their On the first £226 of this you pay migaste, whose identity is at last W. H. Bell, Sag Hon. Mr. & Lang for land. The high cost of living gera was founded in 1918 from commodities and their hoards of 28. in the £: on the remainder you discovered. This discovery begins DG. Lerm Exq.] W. Pleadin, Eau

and the shortages of dwelling houses very important German Indus exchange. It has been semi-puy 48, in the $1. A. H. Compion, Enij,

A. Flummet. Eq.

a series of strange and mysterious Hon.Mr.PH.Hotronk T. G. Weil, keq. in the city limits of Tokyo in re trial groupa namely, the Gute officially stated that at least 700 For eamed income over 21,500 warnings of imminent death. cent years has coned a rapid Hoffnungshutte, the A.E G., and million marks worth of foreign first deduct $250 instead of one- Her lover, John Blake, calls on | development of adjoining rural disthe Hamburg-Amerika Line. Dur banknotes went abroad Inat, yen sixth and their proceed se above, his friend, the crime deflector to

tricts of Tokyo and farms and ing the last year of the war and as a result of the Reichsbank policy,

For unearned income the process protect the girl. Passage is en- foresta were gold in many places the following year the Manager: Shanghai-G. H. STITT, E for residential quarters. Many real pany bullt large shipyards on foreign bills bad also to be melted.tion of one-sixth is not allowed,

com and that 1,800 million marks in is the same except that the deduc-gaged to Chicago on the Continent, al Limited but the mysterious elate companies, ach as the the "Elbe, and installed by far These, together with the foreign LONDON BANKERS.

warnings and strange happenings Hakone Eand" und Building Com-the most modern equipment In loans and credits, variously estí. Westminster Bank, Ltd.

(including a murder, the baffing pay and Tokyo Land Tenement Germany. By its close connection mated at from 1,400 millions to

'MEN. FINANOTER'S DEATH

appearance of balls of red light in CURRENT ACCOUNTS opened in House Company, purchased large with its associated organisations 2,000 millions, created a fund from

the car) continue to take place. LOCAL CURRENCY and FIXEDcts of land in suburbs at cheap the company is not only able to 4,000 to 4.500 million marks, so The mining industry in both The story comes to a climax when DEPOSITS received for one year ortes mud, sail them to those who work at low costs by, effecting that, after providing for the pay Cornwall and Nigeria has lost an the rear car of the Limited is un- shorter periods Local Currency and interplex to five in the suburban economies at every point in the ment of the excess of imports, there ardent supporter by the death, after coupled from the train while it is Marling

terms which will be quoted lists tendency was the complex process of production, remained a large balance with a long illness, of Mr. Oliver going up a steep grade over the ima application.

mors remarkable after the great but is in a position to make use of which cold and exchange for the Wethered, whose appointments in-mountains and dashes Hongkong, May 20, 1935,

Enerhiponke and fire of 1929, when very important patents. For steam Reichsbank were acquired. The cluded the chairmanship of the dawn hill towards the

people who test their dwellings engines the Deutsche Werft haye Darmstaclter und National Bank, Comish Chamber of Mines, and section of the train. Catastrophe la sought refuge in the burbs, and at their dispoal the patents of the in the report for 1924, refers to this | the deputy-chairmanship of the averted only because the switch

ex Gate Hoffnungsthutte, for steam, subject as follows:

Nigerinri Chamber of Mines. He is turned and the rear car is HONGKONG SAVINGS BANK, the residentin quarters were

||quent with great rapidity. More turbines the patente of the The balance of foreign payments was also chairman of the Delconth, shusted off on a blind siding. Here Han Banino houses for reported to A.E.G., while for Diesel engines for the year 1924 is extremely un-Geover, and Rayfield, companies. the mysteries are solved and the have been built in these few years they are the German licensees favorable, and shows an excess

It was through Mr. Wethered villains punished. imports over exports AND SHANGHAI BANKING Fokyo suburbs, most of which of Burmeister and Wain, Copen-of

of that outsile capital was found for wire sicted after the earthquake hagen. Actually the yard was 2.750.000,000 marks. T is the old Doloouth tin mine, Corn- FORATION Bular mang bị người

Roc fire. The purees of large constructed and equipped during that the conversion, in connection wall when it became a limited en application.

the depreciation period and, with the stabilisation of our cuis- INTEREST on deposits in caterthurs of land and the erection of on the lowest halaned during each com Fenenient houses were undertaken amongst others, this factor has rency of sums held abroad or at liability concern in 1805. That new capital gave the mine a fresh plated Calendar Month at 34 per cent these real estate companies contributed a good deal to low home in foreign currency has help ease of life, during which it paid

The golded us to counteract the effect of this per annum. Stould there be no balanes through spevulation in anticipation construction costs. on any day in a month no interest, wihat Tokyo's residential quarters mark balance sheet has not been deficit, und we have even been able umerous dividends, be allowed for that month.

would be entirely removed to published yet, but the following by the help of the credits granted. Depositors may transfer at their Eubiorbs, option. Balance 8100 or more to the SONGKONG & SHANGHAI BANK.

110. businose of the abren la..

conducted by the BINGKON

CURRENT RATES:

WHEN THE BOOM BROKE.

assets in the balance-sheet drawn up at December 31, 1923, may be noted. The figures are given in to be placed on FIXED DEPUSIT through artificial measures and one billion marks as equal to one These firms raised this land prices bilion marks, and we may take miny people were induced to par-gold mark: elas ng at high prices. Aselam burk started last year in economi Buildings geiles and this caused active sales. in houses and lands in city limits of Tokyo, fiend lots of hen were sold at cheaper pries. This has toil severely upon the business of | these lund companies, who intended

For the Hoxenone'& Suasana BANKING CORPORATION,

A. H. BARLOW,

Chief Manager. Hongkong 7th January, 1925.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

INCORPORATED BY ROYAL CHARTER, 1853.

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve Fund

Raserve Liability of Pro-

prietors

*****

.$3,000,000 £4,000,000

.£3,000,000

FOREIGN EXCHANGE and General

Banking business transacted,

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for 1 year a shorter period at rutes which will be

uoted on application.

A. E. FERGUSON,

Manager. Hongkong, April 15, 1925.

BANQUE DE L'INDO-CHINE.

BES

HEAD OFFICE:

£6, Boulevard Haussman, Parle. Bubscribed Capital.. Fra. 72,000,000,00 Pald-Up Capital Frs. GE,100,000.00 Reserve Fund..... Frs. 69,807,283.64 BRANCHES: Hongkong Neg

Machines and equip

ment....

Billion marks 2,132,895

3.913 875 733,256

Stocks ................. Cash in hand and with

bankers......

The Geevor mine, which was being worked on a very small scale when it was taken over and financed

Mr. Wethered, is now producing in per annum at the rate of over 500 tons black

from abroad, after the issue of the Duves loan, greatly to increase our holdings of foreign exchange. But to the seriousness of the situation this cannot deceive us with regard created by our taking up some Capital was also found by Mr. 2,000,000 jou gold marks as short-Wethered for a number of Nigerian term foreign credit in 1924.** ti-mining undertakings.

LOCAL SHARE MARKET.

OFFICIAL QUOTATIONS...

10:30 AM.

JOXE 4.

Names

Rock Exchange

Bank

8,8,8.C: T.T. on sailing rate

Londo

2/1

71

and on Shanghai, Hongkong Banks 18 5 sa Loaden-₤1436 Chartered Bank

£10-1 % . Mercantile Bank AB-E2+1/2 k.... C do.

£13-1/8

P. & O, Bank...

***

ན

madly second

THE BANK OF EAST: ASIA

PRIMITED,

HEAD OFFICE: HONGKONEN,

Authorised Capital...310,000 Paid-up Capital pa

Reserva Fund****

5,000,0

DIRECTORS; A

Hon. Mr. Chow Sheu Son Chalransom Fung Ping Shan Mok Ching Home · Li Koon Chan Wong Yun Tong F.K. Kwok Hayah Tal Ng Ching Lok Kan Ying Po Foug Wat Ting Chan Ching Shell Every description of Banking Exchange bustusss transacted granted on approved securities.

SAFE DEPOSIT BOXES to Bell

.HAN TONG PO,

Chief Manage. Hongkong, 16th February, 1925,

NEDERLANDSCHE HANDEL MAATSCHAPPIJ..

(NETHERLANDS TRADING SOCIETY.}

Betarungan: 1894 Bouxoma Bm.NUK BEZAKLIKKO 1904.

Authorised rapital 2,160,000,000 £12,500,000 Fald-Up Capital...G. $6,000,000 3 606 CHE By Fund 10,045,053 £1,070,415 Epecial. Reserv...G. 2,500,000 1,888,00 EIRAD OFFICE:---Acosterdam, EASTERN HEAD OFFIOB :—Pataria,

· BRANCHES :-

Oberibon

Bandierade Bandown Caletta Djokjakarta Kota-Baila Padan PETER

Botlardan

"It is an annoying portrait, said the angry father. You have Blogspare

done my daughter justice." justice she needs, but mercy.

"Sir, said the artist, it is not

EXCHANGE.

Hongkong, 4th Juno 1938. Un London

Bank, Wire....

12/201

It

#

+:

1

On demand. 3/6/16 20 day's sight...

**

4 months' sight...) Credite. 4 month sight.../4-

Bogamentary, months night 2/4-) On farly-

On demand

LIB

"Credits, mouths' sight...Iib

Or demand.

On New York....

G1 demand

On Bombay-

Credits, 80 days' Heri

DOA

Wire

Ondemand

P

T

133+

On Calcutta-

Wire

On demand

On demand...

The Hague Macau

Bomber

Djember

Kobe

Mwiko

Palembang Pecslot gam

Pontianak

-Bamarang

Rangoon Shangha

Bonesha Boraknets (Belo)

Weltevreden

LONDON BANKERS: National Provincial Bank, Ltd. Correspondents all over the world. BANKING BUSINESS OF EVERT

DESCRIPTION..

M. J. HERBSCHLIM,

Agent.

Hongkong, November 4, 1924.

司公理營業實法中

·SOCIETE FRANCAISE DE GERANCE

DE LA BANQUE INDUSTRIELLE

11

DE CHINE

ETABLISSEMENT FRANCO

CHINOIS."

(Incorporated in France),

6, Chater Road, Victoria, Hongkong. HEAD OFFICE: 74, Roe St. LaxCOMŲ Parks

Subscribed Capital fully

paid-up Reserve Fund

Fr. 10,000, Fra. 10,790,00

Working.fund provided by

THE BANQUE INDUSTRIELLE

JNE

Sharebrors"

Bank.

4/3

***

On Singapore

b189

97}

On Manila→→

REI-1/4

Ou demand...

1103

N, THAT BROJ.

On Shanghai-

On demand...

K.

97. D

D. 100

On Yokohama

30 days' sight (private paper)

Peria:

On demand.

139

751 A 1.95 b.

780

Gold Leal, 100 fine (per isal) 47.40

ì 3.91

North Chius Insurapor Talon Insurance

T140 B.

140

Sogns (Bank's buying màn) 3.57 Bliver (per on)

'986

180

204 106 B1.11/16 KHUBSIDIARY OSTER.

In

Yaustese Insurance

Bu b..

6 60

300 b;

190

b.

5. 52.

8 38-1/2

D.

104.287 The paid up capital amounted to sa reup profit", in the siles of 60 million paper marks and de Suburban lands there are ferventures issued in. 1920. to the persons seeking to buy land in extent of 30 million paper marks. suburbs under the prevailing high are outstanding. At the end of prices Consequently, these com- 1923 the company was employing panies are now in a parkavard some 7,000 people. Important as position financially as no sadow of the advantages of being con- suburb lands are being made as pres¦structed when the mark was on its sent At the same time the land downward course are, niore impor pricey are falling precipitously not tant In the competitive power of in Tokyo city hit also in the the Deutsche Werft is its close suburbs and the actual land prices inier-relations with other industries

r transaction are per cent, and its modern equipnient. cheaper thuir those mened by these) The British yards may not be freal estado firms. Even in Shibuya, able to make such an imposing Meguro, Kabata. Youhbashi, Te-showing in their inter-relation bukuro, Mejiro, and other adjoin with feeding industries, but in ing towns Which are comparatively technique and traditional skill this convenient in point of transporta country still holds the lead. tion and cheaper in daily living, the long run price will prove the land prices are very low and nt ruling factor in the acceptance of almost half of the price which pre-shipbuilding tenders, but, as Mr. vailed right after the September Lawrence Holt points out in a earthquake and fire.

letter to the Liverpool Post and Mercury," those who ready lo pay 10 per more for a ship built in of our good yards are "probably wise in their generation. Mr. Holt has just returned from a visit to ten shipyards on the Continent, and the reasons he gives for the ability of Germany to build cheaper ships than our own yards are lower wages, universality of

All these land companies are los in heavily and bankers who once advanced enormous suns to them are now almost totally withholding from investing capital in lands in the city, as well as suburban lands, Even life insurance companies which were willing to invest their Yunnanfaidle money in the land business now fight shy of giving financial aid to IN FRANCE: Comptale National d'Escompte land interests, it is reported. People

Bangkok

Canton Dubai Haiphong Hiskom Exanal

Noumea Papente Paktag Prom-Penh Pondicherry BANKERS:

•

Belgen Stanghal

Akigapore Tintain Turana

"de Paris; Credit Lyoncale; Eenque de Park #1 | who oncé, removed to the suborba piecework, longer bours,

Pays-Bas Credit Industriel at Commercial

Bosiete Generals.

IN LONDON: The National Provincial à Ualon Bank of England, Ltd: Comptoir National d'Escompte de Paris Credit Lyonnais IN NEW YORK J. P. Morgan & Co. Frach American Banking Corporation; Guaranty Trust Co. of New York,

ictament allowed on Current Acenta and Mixed Depoulia according to arrangement,

Basin trazanoted..

Bray description of Banking and Exchange

A. LECOT,

Marager. Hongkong, March 20, 1924,

THE YOKOHAMA

arc

cent.

one

tu

thinking thus the rural life night restriction on the use of labour- be an ideal one are now quickly saving machines, no demarcation returning to Tokyo, unable to stand obstacles between trades, 30 the higher living, lack of water-redundant labour, and keener works and gas, and the lack of an work by management and workers. adequate police force.

MANY VACANT NOW.

"

East Asia Bank Warine Insuranose Canton Insuranos....... China Undis

Fire Insuradons

China Fire Insuranos Hongkong Fire Insurance... 670 b shipping

Dougisnes

How

39.

B.K. Steamboats *. Hongkong Tags and Lighter 43. Indo-China (Prof.)

Shell Transporta

Star Forries

· Water-boats

Oriental Nav. Co.. refineries

TH

P

"

»

Hongkong 50 cents rab, ... X die

10

"I dia. - 8 7 dia Canton solna

3961/5% dis Bar Silver in Hongkong pa Chloes Copper Chal... 10% pm. Chiners Copper Clente 6% POL Rate of Native Interest

Ohmase Sub. Cola

Hongrong Bah, Colač ....

DE CHINE.

Fr. 50,000,000,

BANKERS:

Societe Generala,

Nationale de Credit

Paris et des Pays-Bas. London: Midland Bank, Ltd.

Bant

Banque

New York: Irving Bank Columbia Trasų

Co.

Every description of Banking nói Exchange Business transacted. Corre

#pondents throughout the world.

M. FITZ-HENRY.

Manager Hongkong, 18th February, 1925.

52117% ont THE BANK OF TAIWAN, LEB,

(Taiwan Ginko.) 1% da

THE BANK OF OHINA 行銀國中

JA D.

do,

do do.

(Def.) (B.E. Reg.)

100

1005

P

84/ h

FK

***

09

821 BI en

b. 81

17-144 2

n 17+

265 1.

n 155

5

1511

5%

98. 17

Paid-up Capital

Reserve Fund

13-1/

fibios Bugat

Kining

Malabon. Sugar

Benguete

-

TA

FO'-b

Kallan Mining Adm. Langkate.•* Gomb. 715-1'1 » & si Shanghai LosDa S'hal Explorations... T 5.k,

Langkate

T12.85 b.

Tronoh Hing Ural Casp.

+

H. & K. Wharfa... E. & W. Doc

Shanghai Rongkewa

#n 14. D

190 1/2/90 sa 115. & ↑ 171 a.

190

T 129 b. 140 sa

In the Hight of these observations of a prominent shipowner there According to the latest investiga hardly seems in unanswerable Docks Wherres, Godowns, da, tion made by the Tokyo Prefectural Case for the artificial stimulation Government, Yucant houses are in- of our shipbuilding Industry by means of a subsidy, which crossing daily in Tokyo suburba and

would tend lo there are now 75,000 snel houses:

effective throughout the suburban districts of the reorganisation of our yards incentive towards Tokyo. The Dojinkai, an organist and the modernisation of their tion for tenement houses under

plant.

SPECIEdy of the Tokyo prefectural authorities recently erected 4,000 houses in the suburbs and more than 3,000 of these houses are left vacant despite, the cheap rentals. The authorities concerned are now discussing measures to fill these

BANK, LTD.

Established 1880. Capital (full yald-up).. Yen 100,000,000 Reserve Fund

Yen 80,500,000 Head Office:-YOKOHAMA,

Branches and Agencies st:

+

Batavia.

Bombay.

Buenos Aprel,

Galoutta.

Changchun.

Dairen (Dalny).

"

Newchung.

New York

Osaka.

Paking

Rangoon Rio de Janeiro.

Fangtion (Mukden). Saigon,

Hamburg.

Hankow

Harbin,

Honolulu.

KaiYuen

Kobe.

Lendon.

Los Angeles. Lybos,

San Francisco, Seattle. Shanghal Blaim onoseki.

Singapore, Soerabaya. Sydney,

Tentsin Tokyo. Tainanfu. Taingtan Vladivostock ferent allowed on Current Accounts. Deposits received for fred periods at to be chained, on application.

D. ARIMA,

Maragar. 11th March, 1925,

vacant houses.

remove

LESS FISH EATEN.

an

That people are eating less fish is a race diclosed by a five years' review of the ses isheries issued by the Ministry of Agriculture and Fisheries.

New Enchorings... Shal Docke

H. K. Earlegerings

Lands. Hotels & Buildings, H.K.&B'hal Hotels Hongkong Landi

·A.E. Realty

Erbates

141

· 91

***

the 18+7/3 b

150.

b 20

30 TL

Rampbrends Kowloon Princes Building FLK. Territorial Baral Lands Vatten

"HUL, Ltd... T'U Kwo Ontton Rear Vikeban Leoa ・Mowa

T. 3,90 1. Thadithat Cetion var

1.57 New T31

and fanepool.

Canton Loos Misosilaneous,

According to the report the aver УОКОНАМА.

age yearly conmmption per head Orientals. fall from 41 lbs. for the period FOREIGN QUARTER'S RESTORATION,

1907-1910 to 38 lbs. in 1920-1928.KARET

"It is clear," adds the report, Early restoration of the foreign that fish as presented to the co- business quarter of Yokohama samer is not sufficiently attractive plans of which are now prepared and to be given a permanent position are to be submitted to the authori as a principal item in the ment and ties in a few days, was inged by that if the home market is to ex- Mr. Hamilton Holmes, British pond it is essential to educate the Consul General at Yokohama, in consumers to the dietetic value of an address to members of the Con- good fresh fish, and at the same sular Corps,

"We are earnestly anrious that time ensure that supplies of such

fish, at prices which will enable it

the foreign business quarter of to compete with all cases of mest, Yamashita-cho shall be so restored are continuously available that it may be worthy of the new SK DA Yokohama Mr. Holmes land, as you are aware, have been energetically working in the pro- posals put forward some months ago by the Governor.

profectu that the cor advancemer thorities are

giving assw

year will see great the art

stroots

URGENCY 15 STRESIED.) Mr. Holmes pointed out that a readjustmet white foreign busineed.

Патека

31 ́n. Now in Clearinrybu Mombined *36-1/9 > 17 € 25{ 'm

is Prowklente 35. w 11 m Obins Laghils (Old) to 1-1/4 ma

da (New) 11 B. Comb: 2ɛi #.. Chiang Frueldente Combined 47 m.

ELE. Development Brown zu 10 Danda,

Mono do

Hongkong Annow Rongkong and Dazion

Hongkong Bopal höper Oombli

150

3-12

111

60-Now 23

"C ́18-19: Waw 2. (Oomb. b-87)

(was 2. 30 Comb b19. ́5) 144 Now: 155a- Con 48-1/'

60.Deerbr

•1/3 New 10 h°

(Specially Authorised by Presidential

Mandate of the Republic of China

on the 22nd of November, 1017).

Authorised Capital... $60,000,000.00

$18,278,800.00

$ 9,629,425.3

HEAD OFFICE. PEKING.

HONGKONG BRANCH:

4 QUEEN'S ROAD CENTRAL Branches and Sub-branches ali ovn China and Correspondents In Europs America, and other parts of the world London Bankers: The National Provis cial and Union Bank of England, Ltd. The Guaranty Trust Company of New

Yat

New York Bankers:-The Irving

National Bank.

The Equitable Trust Company of Naw

York

Interest allowed on Curent Acccventa and Fixed Deposits. Terms on applies

Every description of Banking Bad Kiek transacted, was

Lois granted on approved securities Special facilities for Home Exchangs

TOUYSE: FEL

Incorporated by Special Imperial

Charter, 1899.

Capital Subscribed Capital (Paid-up).

Reserve Fund

... Yem 60,000,NOS *** Ten 52,500,00

Yan 12,980,000

HEAD OFFICE: TAIPEH, FORMOSA.

BRANCHES:

Yokohama, Kob

JAPAN-Tokyo, Osaka FORMOSA,--Giran, Kagi, Karenka, Keelung, Makung, Nanto, Pinam, Shinchiku, Taichu, Tainan, Takow, Tamsul, Tohyen, Ako, CHINA-Shanghai, Hankow, Apoy,

Foochow, Swatow, Canton. OTHERS.-Bangkok, Hongkong, Sings-

pore, Sourabaya, Samarang Bateria. Bombay, London, New York, Calcutta,

LONDON BANKERS:. London County Westminster and Farr's' Bizk.

The Bath bas Corresponded to the Commer Centrale son Buropean Continent. B shurin pailgina, Japan, IndoChim, Blam," Initia, rulla, Assarion, Afiion, de, Philips Landa, Java, and Dateh Indian, Ameti peponi az razne whian will, 34 qualed sa Lepile

– Laterant showns on GreinasÁDOORRIK, KNÍ Stand

Z. TAMAMOTO, Manager. HONGKONG BRANCH:

8, Des Vaux Road Central. Hongkong, 5th June, 1924

INVESTMENTS

ACTUAL INVESTMENT YIELDS TO OUR CLIENTS

in addition to bonus and dividenda. · Varlication possible Instance No. 13: Cilent 85 bought Hongkong Trama at $25.00; they are now $40.00..

SMALL LOTS

We Buy

Underwritera Hotels

**Bmalt or Jarga lata 24

26.40 1: EL K^ Andusedenia!

100/1000 Underwrites b 300/1000 Baltian

China Lagista Lands'

123 60/500. v: Constructions

100/500 Hols 141200/5002Orientale:

7319/15860 Uniona,

*10/100 Providenta (old)- ***100/2001': Stice Varzias "E

· Kowldon: Whaeros:

SAND

We Sell

600/1000 Powells

100/867

Pravidoute (ner)

Developments.

500

•Providenta (nor terbosta

Bank

10/600

42/300

SMALL INVESTORS