1925-06-06 — Page 2

Page

LA SHANGHAI! CORPORATION.

CHU HONGA To

PATAL................. B063,000);ULR; AY PAM UF $20,000,00

4,300,000

.....$26,000,000

LABILITY OF

URT OF DIRECTORS:

COMMERCE AND FINANCE.

UNEMPLOYMENT.

PLAÏN FACTS ABOUT THE

MATTER

THE CHINA

MAIL.

SHIPBUILDING PRICES.

OVERSEAS TRADE.

BOARD OF TRADE & RETURNS. -

TALE OF A TUB

HOW BUTTER BELLS BEST.

SATURDAY, JUNE

GAMAGE'S IMPROVEMENT.

outfitters, for the year ended Jan- uary 81.

There was un'increased furnovar

Amid the depressing reports of some of the big manufacturing com The Board of Trade's import and Mr. Briggs, retiring president of panies another instance, of improved" export returns for March make the Manchester Wholesale Pro-results in a retail business is afford- THE ACTUAL DIFFERENCE

cotton manufacturing and the provision Association, suggests thated by the report of A. W. Gamago, duction of machinery appear to be the Government compel all import- With regard to the statement in For the last one months or more the House of Commons recently lighly prosperous industries. That, ed butter to be packed in 561b.Limited, the athletic and general

boxes, instead of in tubs. the volume of unemployment has that shipbuilding material has been however, is only because the com- He points out that, until recent been to all intents and purposes sold by British works to Continental pigisons are with the trade done any Continental butter fetched 6d. stationary, or even rising slightly. Eshipbuidora at 90s. par ton below a time of great depression.

Cotton b. more than New Zealand'a It is no wonder that, faced with | the price ruling at home, the Press Waito, Leg-Reputy Chairman these disquieting figures, politicians Asociatia tans authority from eyes and manufactures total near-best, though there was no differ- ence in value, and says that traders explain the difference in price as due solely to the women of certain districts, who do not believe they ure getting their money's worth unless they see the butter ladled ont of tubs, and always think the best butter comes in, tubs. It is impossible to change these old- established habits

__ Young_Esq.-Chairman,

1. Ball, Faq, Hon. Mr. A. Sumaye, Msoruncil Diya Matterselam. He 4. Compuni. Eng. 1. A. Plummer,: B q. ba.Mr.PTE. Holyánk T. G. Wali, bou.

CHER MANAGER':

A. II, BARLOW, Esq.

LONDON BANKERS, Westminster Bank, Ltd. CURRENT ACCOUNTS opened in BOCAL CURRENCY and FIXED DEPOSITS received for one year of orter periods in Local Currency and earling on terms which will be quoted

application. Hongkong, May 20, 1924.

proposal, it is essential that certain facts which are often overlooked in popular discussion should be clearly borne in mind.

About 3,000:

10

Zealand cannot ship butter in tube Mr. Briggs adde that New

owing to freight charges and the difficulties of stowing

and the net profits are 462,478 for the year, against £96,472 for the proceding oleven months. The dividend is increased from 5 to 7 per cent, the various appropriations. amount to £9,000, against £6,800 last time, and the carry-forward is €10,087, against £9,440.

EXCHANGE.

Hongkong, 6th June 1986.

On London

Bank, Wire.

r

On demand

35/18 30 days.olght......

months' sight 233- Ordita. 4 months' sight ......2/4-) Documentary, months slabe pit-j Op Pays-

of all parties should be casting British works in question to stately £29 millions, which is an increase about for some new method of that the actual difference in the of 8,108,000 on the corresponding dealing with the problem. Upon price was merely 28, per month of 1921 and 44,420,000 on the latest solution which has been between the price delivered to the 1923. Three things have to be re put forward, Sir Alfred Mond's Dush shipyard which is on the memberid, however the first that suggestion to utilise part of the count and in a position to take the time Egyptum cotton was about 18. Manager: Shanghai-G. É. STITT, Esq. Unemployment insurance fund to material fakingside its yards and 6d, per gesund dearer during part subsidise certain kinds of employ the prior delivered to shipbuilders of the month, although American ment, it is wise to suspend judg ou" the northrenst, const ment until its distinguished author British quotation for these ships Me second that a large part of the The was about 3d. per pound cheuper, has expounded his plan in greater was stated to be 12,000 per ship exports represented orders received above the Dutch. The tonnage of belure Christmas, when trade was detail. But in the meantime, if Sound opinion is to be formed upon the merits of this or any similar sections in each ship is better, and the third that, even in the eat of the phitsund sotions mils spinning American cotton Thus the difference with the aid of these old orders, the

SAVED SOVEREIGNS, Phecounts for only

412 per ship, word as rule only rubiging 352 against the £19.000 above referred hours a week, where they were

Mr. J. L. Londoun-Shand, at the nection with the ships recently operatives being on the dole. Pro- Malay Rubber, said:-I wonder if It will be remembered in com running at all, large numbers of annual meeting of Consolidated placed by the Furness Company portionately, the machinery trade's all the critics of the restriction with a German shipbuilding con- figures look better still, with an in- scheme realise the many millions cerns that the difference between mase of £954,000, the total being of British sovereigns which have the British pekce per ship and the 24.172.000. but if we turn to the been invested in the rubber-pro- German luted by Sir Frederick 21 retorus we find that the cor during enterprise, and the chance On New York... These were similar sized bouts to 47,300 VOÔ. The coal trade, on Consequently, if the the other hand, shows a decline of the above plates and sections had been de 11,883,000 from 1024 and verd fn of charge this would 281.000 from 1923, the com- not have bridged ane-half the prison being with a time when the It is not in the magu-French decupation of the Ruhr had industry there. Last mondi Ger- many only received from the United Kingdom 336,000 tons, or barely more than half the amount last year, and little more than one-sixth French demand has also fallen off materially, 'though not so stiffly as German." are, sir."

In the first place it should be clearly recognised that a large proportion of the persons stated is employed are, in fact: unemploy able. The very competent com the problem under the chairman- ship of Mr W. T. Layton,, put the figure as high as 400,000. So far as the general social problem is concerned, of course, this does nothing to lessen the seriousness

in the official returns to be un-

HONGKONG SAVINGS BANK

business of the above Bank TH

conducted by the HONGKONG AND SHANGHAI BANKING COR. Imittee which recently investigated Lewis ma le no less Baar 2699140, | responding amount then was nearly we run of this vast sum being lost. PORATION. Rule ma bu obtained on application.

INTEREST on deposita is calculated on the lowest balance during ouch com-

ploted Calendar Month at 34 per cont.: pas sanum. Should there be no balunos

difference

On demand...

1:125. Credits, manthy might ...... 1196 On demand...

On demand

Credits, 60 dage vehi On Bombay-

Wire Ondemand..

"My goodness" remarked, the old gentleman as he stopped the young lad with the fine catch of On alenta trout. "You've had a very suc cessful day, young man. Where

on any day in a month no interent wilt of the official figures. But so far as incturer of files and sections that caused the dislocation of the coal did you catch all these fish?"

be allowed for that month.

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

the problem of reducing unem ployment among the employable Is concerned it, does make a con siderable difference...

shipbuilds should look for relief in Costs Slapbuilders would be the first to aduit that the price of steel plates aut etions, which are now at about a per cent, shove pro-war prices, are cheaper in comparison than, any other substantial item in their present costs, ".

of that in 1923. For the Tora ONU ♣ BHANGRAI

BANKING CORPORATION,

A. E. BARLOW, › Chief Manager. Hongkong 7th January, 1925,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

INCORPORATED BY ROYAL CHARTER, 1859.

HEAD OFFICE: LONDON,

Pald-up Capital

.£3,000,000

Reserve Fund.....£4,000,000 Reserve Liability of Pro-

prietors

.£9,000,000

FOREIGN EXCHANGE and General

Banking business transazled.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for 1 year shorter perind at rates which will be

oted on application.

A. H. FERGUSON, Manager. Hongkong, April 15, 1925.

BANQUE DE L'INDO-CHINE.

FEAD OFFICE:

96, Boulevard Hausman, Paris. bscribed Capital.. Frs. 72.000.000,00 Fald-Up Capital..... Fra. 68,400,000.00 Reserve Fund Fra. 50,457,288.64

Bezko

BRANCHES:

Hongkone Jaigon Battambang Mengine Cacion

are

REAMERY.

SEAS POLE DVRY'S POOR EESULTS.

And furthermore, it is equally !

important to realise that at the present time unemployment is largely a problem of a few special Industries-coal mining and the so-called construction industries in particular. I} the figures of unemployment in these, special industries

deducted from the general total and allowance made for the 400,000 un- employable, there remains a The Maypoly Dairy report for the figure which is not greatly above your 10 dissppointing one. the normal Here, again, this con At 218,311. the net profit la less sideration does not detract in the shan half year's £139,793, least from the importance of the which, in men, was some £34.000” general problem, but it should lead | Rower than that for 1922. The re- us to see in a truer perspective is that the holders of the The truth is that just as people were 21,583,000 deferred shores of 28. too optimistic a year or two ago, cack receive no dividend, wherena there is a danger that at the present for 1923 an interim dividend of 34. time they may fall into the opposite per share was paid on the deferred error In a country such as our own quick recovery after the effort the Board found it necessary to capital. In that year, however, of the last ten years is not to be provide out of the reserve a sum expected-and it is in just those of £250,000, or very nearly the industries which were most affected amount paid in deferred dividend, by that effort that unemployment to write off losses incurred in the is now abnormal,

Let us keep this West Africa business, "so that i steadily in mind when we come to the last be taken into account that consider emergency measures.

last year no such draft was neces sary the comparison with the pre- vious period becomes somewhat less unfavourable.

C. 6. D.

<

"Cash on delivery" seems to bel Out of the present profits £10,000 coming at lust. It may mear' much, in fact, placed to reserve and to British agriculture or very little, 410,000 to income tax reserve, as according to the scale of charges. against only one appropriation of England differs from most others 10,000 st year, and after pe in not having to seek any export viding for the preference and pre- market for its agricultural produce.ferred ordinary dividends there re- In consequence, there is no suff. mains £137,187 to be carried for tononlient

incentive to-operation ward as against 10,576 brought antong farmers for the purpose of in. The cash position is not a very IN FRANCE: Comptoir Nations compeurketing, which abroad includes strong one, but the directors say de Paris; endlLronash; Braque de Paris he organisation of transport that during the second half of last

Dibouti

Bsipboar

Heikow

Seminte Generale.

Nouma

Passente

Poking

Shangha! Ringspore Tiantain Trane

Pom-Pran

Pondicherry BANKERS

des Pays-Bas Credit Industrial at Commercial Here every farmer likes to sell year trading showed considerable IN LONDON: The Nrilonal Provincial & independently if he can; prefer improvemeal, and that they have Balon Bank of Enginn Lid.; Comptoir nhly at the neighbouring market every reason to anticipate a return Mational d' Escompte de Paris Credit Lyon mir town.

cities, tough the hands of a host current your.

His stuff goes to the big to more normal conditions, in the

IN NEW YORK: J. P. Morgan & Co French American Banking Corporation; Guaranty Trust Co. of New York.

J

Intermt slowed on Carm coats and Mænd Depodia according to arrangement.

Every description of Banking and Exchange Dinesena tracemosad

A. LECOT,

Manager. Hongkong, March 20, 1924.

THE YOKOHAMA SPECIE

BANK, LTD.

Established 1880. Papital (full paid-up).. Yea 100,000,000 Beurre Fund

Yen 80,500,000

Head Offles:-YOKOHAMA. Branches and Aggeles it:

stavin.

membay

Calcutta.

mon Ayres.

Khangchun

Dairem (Dalny).

Newchwang New York

Osaka.

Peking Rangoon

Rio de Janeiro,

Bastion (Mukden). Saigon.

Hamburg:

Tankow.

Carbin

Manoiulu, Yuan.

Mendon.

Angolas.

POI:

ין

San Francisco. Seattle

Shanghal

Shimonorall :

Slagapore Scerabaya

Sydney. Tiantaia.. Tekyo,

Trionfa. Tsingtau Vladivostockz

Interest allowed on Current Accounts Deposits received for fixed periods at to be obtained on application.

O. ARIMA,

Manager. 11th March, 1925,

of middlemen, which accounts for

the much advertised disparity be tween what the producer gets and the consumer pays. At the same

BLUE

time large trade is done direct, RECKITTS' £50,000 FOR EMPLOYEES,

especially by small-holders, who contrive to deliver small consign- The shareholders of Reckitt und ments of butter, eggs, etc., to their Suns, of Hull, who are manufac personal acquaintances in town, turers of starch, etc., approved oi redit. This trade in severely 400,000 bang, distributed among restricted by the high mtes of the the employees as a prosperity parcels post. Cash on delivery bonus. This works out at 15. 6. might stimulate

small-holdings in the pound on salaries and Wagos, enormously, but only if the rates, plus a exten allowance according are considerably reduced.

to the number of years service. he shares in the appropriation- which is £25,000 larger than that mude a year ago—are 6,000 persons in Hull and 1,000 elsewhere.

The meeting also agreed to a fina! dividend of 18, 9d. per share on the

THIRD-CLASS LINERS.

་

#!

The White Star Line has placed its third-class steamer Vedic ou the Australian run and it remains to ordinary, making 48., or 20.

LOCAL

"Just walk down that patch marked 'Private' and keep right on till you come to a notice, Trespassers will be prosecuted. A few yards further on there's a fine pool in the river marked 'No fishing allowed,' and there, you

SHARE MARKET.

OFFICIAL QUOTATIONS. 10.30 AM.

ather Exchange

JUNE &

Name

Hauk

H.S.B.C. 7.T. on selllas cate

Londen

..78/5

7:2

and on Absoghmi Hongkong Banks 12.0 a London-£14x à Chartered Bank

£10-19 n. Mercantile Bank 'A' B' £26-1/1 5. do. 0 £18-1/8 b.

11:

17

P. & O. Bank... East. Ada Bank... Marine Insurgross Canton Insurance..... China Undirs North Chius Invarasco Union Insurance →→ Yanciare Insurance" Fire InsuraZoos

China Fire Insurancs. Hongkong Fire Insurance Shipping

A.K. Steamboats

185 +

JUNE 8. Sharebrokar Association.

Bank.

8/31

701

1395

b.

291-1/3

b. "A** P991 ·

b. "0 £13)

b. 2111

W

. 100

On demand. On Biopacore- Un demand On Manila-

On demand.. On Shanghai-

On demand ...

971

LIO+

DAM.

134

47.50

30 days' sight (private paper] On Yokobam&- On demand... Gold Lea?, 100 Ano (per tecl) Soversigos (Bank's buying raże) 8.57 Silver (per os,)

- SI+ SUBSIDIARY COINS. Hongkong 60 cents sub. ... 2 2 dis.

10 *

Canton coina

14%, dia. 42dls. ...78 dia. Bar Sliver in Bougkong %pm. Chinese Copper Cab...

Chines Copper Cente...

10

7. pm.

Rate of Native Interest 1% ont Chine Suh, Cola 92% Hongkong Sub. Colo....

THE BANK, UE EAST ASI

LIMITED.

EAD OFFICE: HONGKONG, AS Authorized Capital .410,000) Paid-up Capital

5,000,00 Reserve Fund 1,000,000|

DIRECTORS:

Hon. Mr. Chow Shou Son-Chairma Fang Ping Shan Mck Ching Kosal LA Koon. Chun Wong Yun Tong P.E. Kwok 'Kuyuh Tai Ng Ching Luk Kan Ying, Po Pong Wal Ting Chan Ching Shell

Every description of Banking Exchange business transacted, Lou

ranted on approved securities.

SAFE DEPOSIT BOXES tế kh

KAN TONG PO,

Chief Manage. Hongkong, 16th February, 1925.

NEDERLANDSCHE HANDEL MAATSCHAPPIJ.

(NETHERLANDS TRADING SOCIETY.)

Betanzosum 1574. Honorowe Branch StanLII "1995"

Authorimi'' Apital -4,180,006,000 £19 500,000! Paid-Up Capital ...G. 80,000,000 £ 8 866,670- Rooters Fant...©. 23,043,083 6 1,810,419. Specfil Reserve...G.. 22,380,000 £ 1,988,298) HEAD OFFICE:—Amatérdam, HASTRAN HRAN OFFICR

BRANCHES --

Bandersin

Bank Bambe

Calantin Djoijakris

Oheribon

The Hagu

Kota Baja:

M1975

Pudso

Panhans

Pecans

Botteril

Basrabt

Aingapor

SHEPAR

Teza!

Tfra

I jember

hom Mextan

Penler gan

Rangoos

Bhangbale

Koerakarta (Boloji

Weltevreden

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

M. J. HERBSCHLA,

Agent.

Hongkong, November 4, 1824:

司公理管業實法中

SOCIETE FRANCAISE DE-

GERANCE

-DE LA BANQUE INDUSTRIELLI

DE CHINE.

ETABLISSEMENT FRANÇO CHINOIS.

(Incorporated in France),

8, Chater Road, Victoria, Hongkon HEAD OFFICE: 74, Ruo St. Lazare,

Pari

Subscribed Capital fully

paid-up

THE MERCANTILE BANK OF Reserve Fund

INDIA, LTD.

HEAD OFFICE:

11, Graqeshwach Atemat, Kondos, E. 01. 1.

Anthorized Capital

Subscribed Capital

Reserve Fund'.......

Paid-up Capital...

BANKKBS:

£3,000,000

1,800,000

1,050,000

1,800,000

20

The Bank of Ragland Midland Back, Lid,

Bench Calla

BRANOTES:

Kota Bhar

HONGKONG BRANCH

Fra. 10,000,000 Fra. 10,706,209)

Working fund provided by

THE BANQUE INDUSTRIELLE

Paris:

DE CHINEL

Fra. 50,000,000.

BANKERS:

Societs Generale,

Nationale de Credit Banque de - Parls et des Pays-Bas,

London: Midland Benk, Ltd.

New York: Irving Bank Columbia Trail

Co.

Every description of Banking an Exchange Business transacted. Corre Borsbags | spondents throughout the world,

M. FITZ-HENRY. "

Manager Hongkong, 18th February, 1925.

Every scription of Banking and Exchange bust- maso Erianaoted.

INTKET Alowed on Current Accounts at 1 paz OBIE W WINGED On Daily Balance and on Plind De

Fowla si raise that way in wrtained on applicatios THE BANK OF TAIWAN, LTD,

28.

971 n

750 n.

b. 760

2,83 b.v4 as

T10. n.

£2.90 6

140

₺ 380

Kuala Latteper Bagoon

口

b. 50

Batara bongkộng Bebas Howrah, Calestí sady

Kadr

Shangka

(New York

Blespors

Portal (Maurita}

100 M.

190

Pathi

670 b

670

Douglases******

0. 69

88-19

Hongkong Taga and Lighter

if s

n4

38 D.

. 98

(Del.)

100

100 ..

84/- b

F. 05

12.8

83.

17-1/4

n. 171

165 -

255

IM

57

n 18

#524

Paid-up Capital

Reserve Fund .......

Indo-Chloas (Pref.)

4.0%

Shell Transports

dn. (B.K. Reg.)

Star Ferrine Water-boats Oriental say. Co Rafinerios

China Sugar Malabon Bugar Wining

Benguets Kailan Mining Langksta...

**

Adm.

Single Langkata

70' h Comh T15-1 Shanghal Loans ...T7a. Shal Exploration T 5 h.

T1285 b

Ratiba

31 D

Tronok Mines

Ural

H. & K. Whart

Abangbal

Bhat Docke

New Engineeringt.

Dooks, Wharves, Godowns, ko,

H. & W. Dook.

Rongkews...

H. K. Engineering

130

1801

& AD

115.

114

200 n Ta

*** T 138, 139-40.

b 127

Landa, Hotels & Buildings.

FLAS Shal Hotel

14 Now-

Hongkong Lands...

01 n BIL

18' b

b 20

Princes Buliding

160 a 5) b

3. 150

1. 1-1/2

**

10 D.

B.K.

Realty Humphreya Estate Kowloon Lands

H.K. Territorisi Baral Lands... Cotton Mills.

Ewo Cotton Mills, Ltd... T 10.90 Kung ika Laon Kung Mow... Orionta

caed. After the war there was per cent, for 1923. The repart quite a boon in steamers carrying stated that the sales of the com third-class passengers only, in pany's products continued to ex- anticipation of a big, increase in pand, and last year's profits were 21s emigrant trade, but the the largest it had over made. Dillingham Restriction Act in the was decided to trasfer £282,532 ta United States put an end to most the reserve, making that fund of these hopes, and most third- £1,500,000, and £248,080 class travellers prefer to travel in carried forward."

he seen how well she will succent., for the year, as

against 171 S

a three-class ship whose name is a

"household "word." That was on

the North Atlantic; it remains to

It

TEMA

DON'T BE DISCOURAGED

Canton Cements

Colcho

Ioss...

T. 180 1

- T 57

Now T 31 a

n. 10 New 18 a.

7-1/

11 n. Now in Cements "Dombicid 16-1/2-25.60 a Chias Lights (Old)) -- ## 18 u

(New)

33. Comb 381 hins Providenie 15's. New 14 n. China Providents Oomblaad

H.8. Developmen

Dairy Farming

Hacão do

Buitkom. Amuhomonta

Hongkong sod Canton Ices Hongkong Ropeestis: 18 në köper Combinjakka Hongkong Tramw

We

be seen whether the same feeling holds. fù the Australian trade or by constipation. No matter how stab whether the very concrete advan-born, it can be permanently or cleanse take of having the whole ship to trevel in the right way. First, themselves will outweigh this tho intestinal trant by taking acmill surely ychological considers. do a of Pinkettes, the little gentle'no- tion in the minds of the travellers. Fish fruit, vegetables, a sufficiency of

natu a laxatives." Then watch your diet. | : 8.K. On The Atlantic Transport Line, it altered water unsumed asily, andin will he remembered, has overclonal data of Pinkettes when come the difficulty by transforming rated, will do the rest

{ft big third-class bubip intoval

oursát:vezsal at reasonable price

Lane

(New)

80 Den

10,0

(m:18-18)_ _Wa=N, S

(Comb, a 17 an 25]

n. Di

(MAM 8.30 Comh, as 311

*m. 141 Nowy: 18h n

Combe 48-19.

1,60 Denie

* Quan Road Chesteri,

Hongkong, January 15, 1995.

J. B. BORN,

Author Mangar

THE BANK OF CHINA...

行銀國中

(Specially Authorised by Presidential

Mandate of the Republic of China on the 22nd of November, 1917).

Autherland Capital

$60,000,000.0

$18,278,600.00 $9,629,425.94

HEAD OFFICE: PEKING.

HONGKONG BRANCH:

4, QUEEN'S ROAD CENTRAL Branches and Sub-branches all over China and Correspondents in Europe,

·America, and other parts of the world, Londos Bankers: The National Payla

cial and Union Bank of England, Ltd, The Guaranty Trust Company of New

York

New York Bankers:-The Irving:

National Bank.

The Equitable Trust Company of Naw

Tork

Intercnt allowed on Current Aceomats and Fixed Deposita. Terms on applicmé tion.

Every description of Banking Bank moms transacted.

Loans granted on approved securitisa. Special facilities for Home Exchange

TSUYER PEL Manager.

(Talwan Ginko.)

Incorporated by Special Imperial,

Charter, 1899.

Capital Subscribed.... Ten 60,000,000 Capital (Paid-ap) Yen 52,600,000

Reserve Fund ... Yen 12,980,000

HEAD OFFICE:

TAIPER, FORMOSA.

BRANCHES: JAPAN-Tokyo, Yokohama,

Kobe

FORMOSA-Giran, Kagi, Karen

Koelung, Makung, Nanto, Pinan Shinchiku, Tatcha, Tainan, Takow, Tamani Tohren, Ako. CHINA-Shanghai, Hankow, Amor, OTHERS--Bangkok, Hongkong, Sing- Foochew, Swatow, Canton.

pora, Sourabaya, Sarsarang Batavia Bombay, London, NW - York, Calcutta.

LONDON BANKERS: London County Westminster and Parr'a Bank.

The Manx bản Corrowy undente in the Commercial). at Tdagio, Japan, Indo-China, Bata, India, Cent in the European Caninout, Erin M Philippine 1

sofiants, fata, and paced indS, ARC Full America, affion, de,

Dopants rates which will be quoted on applică...

2. YAMAMOTO, ·

Manager KONGKONG BRANCH:

$, Des Voeux Road Central Hongkong, 5th June, 1026.

Zutares allowed du CizrentAsootsis, and Zized.,

to.

INVESTMENTS

We' aball be glad to quote upon any share whether business

is negotiated or not. Share lists sent upon request.

SMALL LOTS

We Buy

#byed

1050

100/500 Hoteli |

100600 Chin Lighti

100/500 Constructiona

2000

10500

Cyientala

1260

Unioni

500

We Sell

Watsona (now)

300/500 Developmenta

100 500 Realtim

1601400 Underwriters

"Banca

Union

Cempat (July

Rojes (0:0) 100/800+ Electrics *100/1000 Powells.

10/500 Tal

100

Hongkong Am 42/300 Waterboute 20/500* Watsons (old); .6500

€100/500 Proridents

Waterbents

AND:OTHES LOTS UPON REQUEST.

WE BUZ OR, BILL, RUBBER/SHARER.

SMALL INVESTORS