1925-06-09 — Page 2

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1

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HONGKONG & SHANGHAI

BANKING CORPORATION..

HEAD OFFICE: HONGKONG,

AFTHORISED CAPITAL.............. $80,000,000 (HUD, AND FULLY PAID UP $30,000,000 RESERVE FUNDA

N'

STERLING... £4,500,000.

SILVER ...... 846,500,000, BESERVE LARTY OF $20,000,000

PROPRIETORN.

£

COURT OF DIRECTORS:

Q. M. Young, Esq.-Chairman.m HP White, Eng.-Deputy Chairman,

W. H. Hell, En

Hon. Mr. A, E, Lang.

10. M. tornard, Rep, W., Pattenden, Kai

Ai 17. Comptem, Paj, £. A. Plummer. E q Hon. Mr. PH. Holyonk T. 69. Woull Hay.

CHIEF MANAGER:

A. U. BARLOW, Eagŋ,

£4,

COMMERCE AND FINANCE.

HALL & HOLTZ.

SHANGHAI FIRM'S. POSITION.

one,

THE CHINA, MAIL.

of our capital," explained. Mr. Cumine...

We cannot afford to allow this to continue, We have not been earning ything for Our pital is dead to us. It is high time to save the

many years:

WEEKS AND CO.

ANOTHER YEAR'S LOSS...

Was

All assots, said Mr. Trueman. appear in the balance sheet at nuch below their intrinile · or markat value.

A

SOAP.

TUESDAY, JUNE: 9, 1925.

JOSEPH CROSFIELD AND SONS,

Speaking at the meeting of The 1924 assessed value of the For the year to the end of Weeks and Co. Ltd., the Chair-Shanghai land was nearly Tia November last the Warrington pan, Mr. T. E. Tradman expressed 120,000.00 (Tls: 119,785.66) mort soap company of Joseph Crosfeld regret that the year's working had than book value of the land and Sons all the ordinary shares "gain resulted in loss. Conditions, building...

in, which are held by Lever Bros. The Bank overdraft The interest taken in the meet

of trade similar to those in the

was made a profit of £384,063, against Ing of Hall & Holtz, Ltd. is evi-fourdering.ship."

preceding year had again pre- $33,705.67 less than last year and £331,269 earned in the previous denced by the fact that just under Mr. Moller, the Chairman last vailed, and while the gross gain on $93.778.04 less than the combined year, and £330,937 in the year to twenty thousand shares out of a year, said he ngeed with some the turnover was practically the overdraft and debentures in 1923. November 30, 1922. This figure is same, they had to reduce selling while sundry creditors stood at arrived at, after charging for re- total of 26,000 shares were repre- of Mr. Cumine remarks, but he sented by those in attendance, and was not in favor of a suggestion prices in many instances to a very $1.185 18 more.

pairs, renewals, and alterations, Mr. Trueman. then referred to a depreciation and insurance, It may be stated in this connection made by Mr. mine that a com-low margin to move the stock.

No that the list of shareholders inmittee of investigation should be Added to this, they had to face letter from a Shareholder which change is made in the ordinary this company is a very extended appointed. He felt sure that the the writing down of a lot of asked the directors to give the dividend, which has been at the directors yould only be too glad stock in the Hankow branch shareholders some indication as to rate of 10 per cent since 1922, the to give any shareholder every which had been accumulated by the future prospects of the comwhole of the increased profit being The cause pany. "Shareholders need have added to the amount carried for facility inspect the accounts and the recent manager, would welcome suggestions.

for writing down was not no fear as to the financial ward, raising it to £56,564, against Mr. Hutton remarked that that that the stocks has deteriorated | stability of the company," said the £3.768 so dealt with a year ago.

:0 was certainly the case.

in any way bad; Mr. Trueman. "From the balance The dividend on the ordinary Mr. Cumine then proposed in the contrary the bulk was of sheat you will see stocks In share Was formerly "not divulged resolution that the accounts be excellent quality and in perfect Shanghal and Hankow more than to the public," but after, the issue not accepted, and the meeting to condition, but it had to be brought balance the bank overdraft. of £1,500,000 74 per cent cumula- be, adjourned, the eventual ide down to present day valuation and while assessed value of the land tive A preference shares in March, being to convene an extraordinary below, in order to enable the without buildings more than covers 1920, it was announced, when the meeting at which a committee of company to reduce the quantity to the share issue by almost a lack of results for that year were made.

known, that the dividend on the three or five shareholders to a normal figure. The action thus deliers." investigate the accounts, and fake taken would place the Hankow

ordinary shares would be at the suggestions should be apported.branch to a position to sell at

rate of 122 per cent, The follow- As previously mentioned the was keenly cut pričes In Shanghaf

ing year however, only 5 per cent lost on a show of hands and also stocks are in excellent condition

was paid and stood at present day market on a poll..

The accounts

then value. wer! formally passed, Mr. WS. King. The trade working expenses, Mr. re-elected a diretor, and Trueman explained, were less Messrs. Seth. Mancel and Mc-than for the preceding year due Lure were appointed ditors. in the main to the smaller charge The Chairman în öringing the for interest, by the gradual reduc- meeting to a close eiterated that tion of the overdraft-a satisfac. facilities to shareholders to inspect a heavy item and this was due of directors were alwars glad to give tory feature. Interest charges were the accounts and invited sugges course to the fact that the trading capital had only been increased by $36,440 since 1903, (the other $200,000 having been used entirely in the purchase of their property),

The balance sheet presented to the meeting, signed by Mr. E Barraclough, secretary and account Manager: Shanghai--G. H. STIFT, Esq. ant, and Messrs. Seth Mancell and McLure, auditors, showed a debit halance at profit and loss of 88781.32, debentures outstanding of something under three hundred thousand dollars, and over half a million due to the Hongkong & Shanghai Bank. On the asset side land and buildings were listed at Lover eight hundred thousand dollars and stock in hand was listed at more than six hundred thousandi. The sundry debtors thousand account stands at over a hundred

LONDON BANKERS. Westminster Bank, Ltd,

CURRENT ACCOUNTS opened in LOCAL CURRENCY and FIXED DEPOSITS received for one year or shorter periods in Local Currency and Haling on terms which will be quoted

application.

Hongkong, May 20, 1718.

Pi .1

HONGKONG SAVINGS BANK,

Business of the shuvos Bank T

conducted by the HONGKONG. AND SILANGITÄT BANKING COR PORATION. Rules may ng olitainon on application.

The following are the main punts in the address to the as-was sembled shareholders made by the Chairman, Mr. L. W. Hutton:

INCREASED TURNOVER.

INTEREST on deponite to paleniluted

The turnover oni the year's on the Inwest halines having anch com-working, notwithstanding, a dis pleted Calendar Mouth a 34 por dont count of 10 per cent. for cash per annum. Should there be no balance pirchases and a discount of 10% on any day in a month no intermat will to shareholders was increased by be allowork for that morto.

over $88,000-whilst the overdraft which last year stood at $740,902, stood at $563,254 at

Dopositors may stander at their option "Balance of $100 iminure to the 'HONGKONG & SHANGHAI BANK to be placed on FIXED DEPOSIT.at CURRENT RATES.

For the oxusaso & SHANOWA

HANNING COMPOSATION,

A. H. BARLOW,.

Chief Manager. Bongkong 7th January, 1925.

THE CHARTERED BANK or INDIA, AUSTRALIA & CHINA.

INCORPORATED BY ROYAL

CHARTER, 1853..

HEAD OFFICE: LONDON.

Paid-up Capital £3,000,000 Reserve Fund £4,000,000 ... Reserve. Liability of Pre-

prietora ...

£3,000,000

FOREIGN EXCHANGE and General Banking business transacted.

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

A. H. FERGUSON, Manager. Hongkong, April 16, 1925.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE; 96, Boulevard Haussman, Paris. Subscribed Capital. Fr. 72,000,000.00 Paid-Up Capital.... Fr. 68,400,000.00 Leserve Fund. Frs. 59,667,288.54

Bangkok

4.40ban Dhalda

2.

BRANCHES:

Hongkong Morgim

Sautern

Diboat!

Paperie

Esiphon

Bike Fanol

Paour Penh Pondicherry BANKERS:

the end

tions..

ILOILO. TRADE.

APRIL'S INTERESTING RETURNS.

of ther year Leaving OU! the amount realised by the sale of the Soochow Road property this meant a reduction during itbe

The aggregate value of native past year of $82,643 The overdraft to-day stood products imported into the nort of Iloilo during the month of April 5481,685, showing a stil forther reduction. The directors consider last amounted to P9,251429, while this is highly satisfactory...

those exported to foreign countries especially as during the past three nonths such reduction had been the result of purely normaltrading. without resort to cheap sales or the sacrificing of stock. This reduc- tion in overdraft meant a consider able saving in badk interest...

Expense account, showed a de crease of $18,500,-sundry credi tors showed a small increase, but bills payable showed a decrease of over $5.00, and yet were substan- tially represented by goods in transit, (over $10,000.),

reached a total value of P10,459.011 the shipments. to other and domestic ports ran up to Po/3,254, according to a report of the agent of the Bureau of Commerce and lo- dustry at that southern port.

The products imported into that port consisted of the following.

From Occidental Negros: 38,021,- 905 kilos of centrifugal sugar valued at

All ascertainable liabilities. had been taken into consideration in Cost

Depreciation had the accounts. been amply provided for, on all permanent assets, that on buildings having been written off against Property Reserve. Doubtless due to the 10% being allowed off cash purchases, Sundry debtors showed a substantial reduction, nearly $27,000 as compared with last year. With regard to stock on hand, this showed a decrease of close upon $100,000, and at least so far as the head office is concerned, stocks were clean and represented a fair value.

P6,843.943: 3,896,028 kilos of muscovado costing P701, 285; 1,378,020 board feet of lumber to the value of P123.572; 183,752 kilos of sundried copra at a of P32,945: 110.360 kilos of alcohol valued at P28,715

P11,695 and

worth of other products; from other parts of Pa- nay Island: 6,194,582 kilos of mis- covado sugar costing P743.349; 1,306,420 kilos of centrifugal sugar to the value of P235.155: 383,644 kilos of sundried copra at a cost of P82.189; 42.289 kilos of abaca valued at P32,624: 673 kilos of knorted pina fibre costing P33,581; 205.036 kilos of fertilizer, to the value of Pz4.600; 1,673,306 kilos of palay at a cost of P21,287; 354000 pieces of firewood valued at Roybad Considerable difficulty was ex-

P17.340 208,800 bayones costing Bingapore perienced with the bakery de- P14340; P4,922 worth of other partment during the year but by products; from Manila; 1,156,316 alterations in the staff, a great kilos rice to the value of P191,637: saving in cost of production had 157,000 kilos of fertilizer at a cost been made. At the end of January. of P14,440. 170.922 kilos of salt upon expiration of his agreement, valued at Ps.3836,120 kilos of leaf the secretary Mr. G. H. Bartlett tobacco, costing P5.175: 2,507 rail- tender d his resignation, which road ties to the value of P5,014; had been accepted with regret, Mr. 13.871 kilos of mongo at a cost of Barraclough, the accountant, had P1,000; from Cebu: 56,919 kilos of been appointed to the dual position sundried copra valued at P19,220; of secretary and accountant, which 15,707 kilos of leaf tobacco costing appointment meant a saving to the P12,500; 165,627 kilos of muscovado company financially. More effi-sugar to the value of P10,979; and cient service was obtained through P642 worth of other products. (combining the two positions.

Halgon

Tintin Touring Yunani

IN FRANCE: Comptoir National d'Escompte de Paris Gredt bronas, Banque de Paris de Pares; Credit Indatle at Commercial

Baclets Genersie.

IN LONDON: The National Provindal a Nail Bak of England. Ed. Comploit Nasional d'Escompte do Paris; Credit Lyonnais IN NEW YORK: J. P. Morgan & Da Freash Amerion Banking Corporation; @asranly Trust Co. of New York,

intereel allowed on Current Accante and Fixed Deponite according to arrangeme

Bvary description of Banking and Brehunge Ba'zaninesseted.

A. LECOT,

Manager. Hongkong, March 20, 1924.

THE YOKOHAMA SPECIE BANK, LTD.

Established 1880. Capital (full paid-up).. Yer 100,000,000 Reserve Fund

BANK SHARES.

the

while the turnover hád increased by 150 per cent, and the stock had increased proportionately. This meant that interest was being paid to the Bank instead of dividends to the shareholders as would have been the case if the company had adequate capital

LOCAL

POOR DIVIDEND PROSPECTS... "The disconcerting part is the fact that we have paid no divi- dends for the past two years. This apart from trade depression is in fact due, as I have already mentioned, to interest going to the Bank in lieu of to shareholders, due to our inadequate capital. To reduce the capital of a Company, is relatively easy matter. but to increase our capital at the present time is not so. We have had this matter under consideration for

some time and this is all I can say at present to you. With regard to future prospects think I can quite safely say that you will not receive next year such a had report, but until trade revived and the public, are spending tey more freely." added to our lack of capital already referred to, the prospects of a dividend are not too good."

The accounts were favonably

passed.

SHARE

."

MARKET.

TATIONS

OFFICIAL QUOTATIONS

JUNE 9.

Names

ተነ 10.30 A.X.

Stock Exchange

IN

9/3) 201

Bank H.A.B.C. T.T. on selling rate

London

and on Shanghal Hongkong. Banks 120 n Londor-£160 a Chartered Bank

-£10-1/8 n. Mercantile Bank 4.8. £29-1/8 b.

db.

0 £19-1/8 h.

£'s. 971 0

P. & G. Book ... Eset Asia Bank Marine Insurance

Cantou Insurance.... Chius Under

h. £111

, 100

THE BANK OF BAST ASIA,

· LIMITED.

HEAD OFFICE: HONGKONG. Authorized Capital.

* Pakkan Capital

Reserve Fund....

$10,000,000 5,000,000 1,000,000

DIRECTORS: Eon, Mt. Chow Shou. Son-Chairinas. Fang Ping Shaz Mok Ching Kona LI Koon Chun Wong Yun Tong, P. K. Kyok

Huyuh Tal Ng Ching Lok Kan Ying Po

Pong Wal Ting Chan Ching Shell Every description of Banking Exchange business transacted. granted on approved accurities...

SAFE DEPOSIT BOXES" to

TONG PON

Hongkong, A

NEDERLANDSCHE HANDEL

MAATSCHAPPIJ.

INSTHERLANDS TRADING SOCIETY.)

Brautirme 1894, Homowe BRANJE ESTADIJE, 1908

Authorised (apital 3,150,000,000 £11.500,004 Punsup Caplu... 80,000,000 8,666,871 Rameres Panama G. 20,045,083. £. 1,670,415. Special Roser...G.. 22,660,000 £ 1,588,490

HEAD OFFIOS:-Acnterdum EASTERN HEAD OFFICE :-} atsvin.

BRANCHES

A new thrill awaited the victor of a "close" parliamentary con- Banda Ban

· Calcutta Dokkarta Kota Mak At last the nurse arrived, to Pada announce Two boys, and a girl, Rotterdam

Peran Alagapar M.P. "What d'ye mean?"

"What?" exclaimed the new T

flour. test. Anxiously. he paced the

"Triplets, Sir." "Preposterous!" said the newly elected father, "-1 insist upon

recount!".

EXCHANGE

Hongkong. th June 1975. Un Lotul

Bank, Wi

"

On Lamand

2-1 ...358

30 day's sight..

Credita

4 months

< months' aight 23-j

ht-1/4- Documentary. 4 months sight -

· Porta-

In zamand

On Slogapore

On demand

Minis

Cheribon

The Hague

B Djember Kom

Mivar

Palembang

Patiyak

Ramkana

Boersban

Pecato, gan

Rangoo

Bhongban

fogakarta: (Bolo)

Walservilen

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

M. J. HERASCHLEI,

Agent.

Hongkong. November 4, 1924.

司公理管業實法中

SOCIETE FRANCAISE DE GERANCE

DE LA BANQUE INDUSTRIELLE-

DE CHINE

ETABLISSEMENT FRANÇO OHINOIS

(Incorporated in France).

5. Chater Road, Victoria, Hongkong. HEAD OFFICE: 74, Rue St. Laza79, Pariz.

Subscribed Capital fully

pald-up

Reserve Fund

Frs, 10,000,405

Fra, 10,799,805

Working fund provided by

THE BANQUE INDUSTRIELLT. DE CHINE,

Frs. 50,000,000.

BANKERS:

Societo

Generale, Bangde

Banque

Nationale de Credit

Paris et des Pays-Bas. London: Midland Bank, Ltd. New York: Irving Bank Columbia Trust

Co.

Credita, month" ìwhi

Je damand pac

HOM.

De. New York

Ou domand

651

Credita. 8 days' Higba

564

JUNE 9.

On Bombay--

Sharabeskard' Arnoctasion;

Wire

Bask.

Qg demand

On Calogt→→

Wire

མ

༥

1/3)

On demand.

781

* 1290

On Manila-

b. 231-19

On demand.

1101

Or Shanghai-

On demand...

- L

Din.

3 days' righ selvate paper),

Paris:

On Yokoban..

On demand...

160 a

b. 760

Gold Leaf, 100 fine (per tool)

124

47.37

14 4.25

Ti40 m.

n. juli.

993 b.

b 280

47 b..

b. 10

200-h.

b. 190

870 b.

b. 170

મ.

34

ha 16-ig

435.

26 1.

→ 18

80 8.

21 ...

a. 10

84! b

1. 85/-

813

17-174 sm

ข. 1-4

966 m..

tz 155

54 *

R

H

5}}

North China Insurance Union InsaraNDO -- Tanktare Insurance

Fire InsuranOSS

China Fire Insurance ... Hongkong Fire Insurance....... Shipplar

Y

Dongles... B.K. Starbosta Hongkong Tugs and Lighter Indo-Chinas (Pref.)

- do. (Det.)

do (H.K. Reg.). Shell Transporta Atar Ferries in Water boste Oriental Nav

Co. erlos

China Hagay... iaine Malabon Sugar

Benguets.

***

3.10

50%

Kailan Mining ådm............

...] Comb. 416-11 n Langkats... Shanghal Loans

IT 7 n. S'hai Explorations.....)T 6 n. Alagle

Langkata

T11 85 n.

Wined

Tronoh

Urai. Caspa

M

Docks. Wharves, dodawas, &a.

EI, & K. Wharfs

abanghat Hongkows

***

H. & F. Dock

New Engineerings. 8'bal Docks

A. K. Fagluerings ******* Lands, Hotels & Building*.

A.K. Shal Hotela Hongtang Landa ... R.E. Realty

5

b. 25

Sovereigns (Flank's buying rate) 4.57 Bilver (per cn.)

314

•

SUBSIDĪJAY ́OSING. Hongkong 50 cent cab.....

100

1. %.die.

1%, dia. 42 dia.

Canton colas

.. 339 ..

Bar Bliver to Hougkong 9 % pm.

Chinese Copper Cash

Chinees Copper Cente...

Rated Native Intereas Chinese Sub. Cola

10% pm.

0% pp.

6 % 117% out

- 53 dis.

Hongkong Bah, Coin. .......

pac.

THE BANK OF CHINA' 行銀國中

(Specially Authorised by Presidential

Mandate of the Republic of China on the 22nd of November, 1917). Authorised Capital.... $60,000,000.00 Paid-up Capital

Reserve Fund

$18,278,500.00

$ 9,829,LIK

HEAD. FICE: 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. London Bankers:-The National Provia. cial and Union Bank of England, Etd The Guaranty Trust Company of New

York

New York

Bankers: The Irving National Bank.

The Equitable Trust Company of New

York

Every description of Banking nail Exchange Business transacted Corre spondents throughout the world.

H. FITZ-HENRY,

Manager Hongkong. 13th February, 1925

THE BANK OF TAIWAN, LTD.......

(Taiwan Ginko.)

Incorporated by Special Imperial

Obarler, 1899..

Capital Subscribed

Capital (Paid-up).

Reierva Fund

Yen 60,000,000 Yen 52,500,00

Yen 19,980.00

HEAD OFFICE: TAIPER, FORMOSA..

BRANCHES:

JAPAN-Tokyo, Yokohama,

Osaka

Нов

FORMOSA-GIran, Kagi, Earanks, Kpelung, Makung, Nanto, Pinan, Shinchiku, Taichu, Tainan, Takow, Tamani, Tohymn, Ako. CHINA. Shanghai, Hankow, Amoy,

Foodhow, Swatow, Canton. OTHERS.-Bangkok, Hongkong, Shap Soerabaya,

Samarens Batavia, Bombay, London; New York, Calcutta.

pore,

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

The Bank hae Correspondents in the Coturbarelad. Ons is the. Buropeia Centiment,. min. Ma

Pippiss flande, Jays, and

Interest allowed on Corrant Accounts & cheria Tubyzao, Japan, Indo-Chinda Aust and Fixed Deposits. Terms on applicerall Amries, Afilong ke,

D. 31

b. 24/

1909 116

190

114.

T500 a. так

F

T 116 b

b 17

1360 b. 1 us New-

83 87-97

11i sa 13.60-14 #18-90

....

n 3

W

-

19-1/b

b. 10

150 n

10°.

tion.

a. 180

b. 1-13

10 h

b 10.10

T. J.M 12.

T'n do T 3 n.

m. 57 Now S1 o.

T-1h b. II a. Now 9 n.

16.80 b.

MR. CUMINE'S CRITICISMS. Mr. H. M. Cupine in rather extended remarks." criticized the

In a letter to the "Times" accounts from the point of view that they did not give the share- on the question -of holders an idea of how the losses nationalisation of banking, which is again being urged in certain were being incurred-for instance was it worth while continuing the quarters, Mr. Walter Runciman outport branches? As regards gave figures showing how widely Shanghai, the Company had backing shares are held by inves

Britain. The premises at the corner of the two 1915 in

paid-up capital of the "Big Five" English Yea 80,600,000 busiest

most important thoroughfares in Shanghai, and banks is £60% million, and there yet the Company would not have no less than 275,400 share been able to pay rent

holders, giving an average nominal Ewo Ontion Mills, Kitd. premises they occupy if they had shareholding of only £219 5s.

Kong Yike Lsod Kang Mows to pay rent for them, instead of These figures are a strong argu

Orien ment against the agitation for owning them.

Shanghal Cotton Cotton handing over the business of basking in Britain

Yangissepood. to theisseliansoul,

Head ONco:-YOKOHAMA,

Branches and Agencies at:

Materia.

Bombay.

panos Ayren.

lentia.

Xeingchun.

Dairen (Dalay).

Newchwang. New York

Osaka..

Peking.

Rangoon.

Rio de Janeiro,

angtion (Mukden). Saigon.

Hamburg.

Markow

rbin.

Menolulu. Tum Tabe

don

* Angsins.

grona. Janila.

San Francisco. Scattle. Shanghai

Shimonoseki.

Singapore,

!!

and

Mr. Cumine then

on the

remarked

that the statement of the proft State. The revival of the discus and loss account showing a loss of $8,781.32 did not disclose sion of this topic has had no the real situation. For one thing, effect whatever upon the market the credit balance of last year of prices of banking shares, which during the recent uncertainty in $7,894.92.had disappeared. There fore, that meant that it had to be markets have remained remark- included in the losses. As regards the Midland Bank, for example, ably steady. The shares of the book value of the land, this stand at a figure which gives a had been raised by $263,690.63, taking advantage of the figures. in yield of just under 5 per cent., and although this is a special case, the recent reassessment Practi- cally this same amount had been since rights attach to the shares for set down as a general reserve fund subscription to a new issue below and from this $100,401.63 had been shares of the four other large banks market price, the quotations for the deducted as an amount written off stock, although the then Chairman are such that the yields obtainable at the meeting last year had stated are relatively low. Possibly the that the value of the stock in hand reason is that higher dividends are was considerably below cost. This anticipated for the current year. It 20 was a matter, said Mr. Cumine, is certainly highly improbable that

Socrabaya Sydney. Tientsin. Tekyo. Teinanfu. Tsingtan. Vladivostock, Interest allowed on Current Accounts, Deposits received for fixed periods at stas to be obtained on application.

C. ARIMA.

Manager. Hongkong, 11th March, 1925.

штора.

FINE JEWELLERY ligigment, Kooper, & Wedding Rings

W

A SPECIALTY.

All of highest grade in the Colony. WINDSOR FROS.

18 Nathan Road, Kowloon

which required further explanation. The actual loss for the year, Mr. Cumine contended, was really $117,077,87.

dividende wil be reduced, mad if continues to expand at its pressat the volume of loans" and advances

rate and conditions in the money market remain favourable, an oxi pansion in banking profits will go donht be shown at the end of the

"SAVE THE FOUNDERING

· SEXIP.MWA "This is more than 20 per cent year

Humphreya Bababon Kowloon bands Princes Building R.K. Territorial Baral Lands... Cotton Ma

T

190

I.

Usatos Ioes.. Caments Cemonly "Combined China Lights (Old)

do (Now) 30 b. Comb 394 E bias Provideate is a Now '14 m. Chins Providente Combined 47 H.K. Daralopments · # 80 Cont Daley Varma.

E

Moutelor

Macro, do

foła.

79#... 63 The

Hongkong Amusemente

306

Hongkong and Osanşon Ioca.........

1

16) ». Now & D Oomb. b 151

E. 1

New 10 1. Comh

27.10/

m. 14j Haw 188 n Comb. n 48-11-

b. 60 Denie

10.75

31-32

Every description of Banking Busi Boss transacted.

Loans granted on approved securities. Special facilities for Home Exchange

TSUYEE PEL Manage,

Intars Allowed on Chemat Accounts, and Fixed Deposite al rate which will be quoted on applica blos.

Z. YAMAMOTO, Manager.

HONGKONG BRANCH:

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

INVESTMENTS

We shall be glad to quote upon any share whether busines3

is negotiated or not, Shara lists sent upon request.

SMALL LOTS

1000, Developments

5. 104

We Sell

51 P. & O. Banks @ £lli

6. 7).

n 17-1 New 10 n.

n 60

6 Ualous

6 39 x 39.30 na 29Į

b. fj.d.

9.35

b. 8.x.d.

21 n. New 2ɔ m.

■ **Now: == 2

14

17 a

1

4.90

b. ot

13.

21.120.

Hongkong Bope... s. 18 n. Nov 1380 a. koper Combined... Hongkong Tramways, Peak Tradways (Old)..

Da

(New) Watson't*** Wm. Porolla..... Lane Cawfords us t

Courtraction Hanyang Tobacco Binderel

China Singapore

2.10

We Buy 100/300 Waterboats

500 Taxis 800

Realtie

AND ANY OTHER LOTS UPON REQUEST, WE BUY OR 'SELL. · RUBBER SHAIZES,

SMALL INVESTORS

Miphone, Central 4436.

"Bank of East Asia Building,