1927-02-15 — Page 2

0

HONG KONG AND SHANGHAI BANKING CORPORATION,

Authorized' Ospitate,... #80006,200- Jarned and Fully Patasuper. 320,000,00 Besare Fundle ---

Berting

600R ...27.100.00

Heserys Limbdiity of Prepristom

HEAD OFFICE, NOWAKONU.

THE BANK OF EAST ASIA, LTD. •

HEAD OFFICE: HONGKONG,

10, De Vaux Road Central, Hongkong..

THE CHINA MAIL.

COMMERCE AND FINANCE.

Authorised Capital!

$10,000,000

Paid-Up Capital

5,000,000

Roserre Fund

1,200,000

BRANCHES AND AGENCIES:

$30,000.000

h

Batavia

Melbourne Ben' Franclik o

Bombay

Nognak! Beatle 1

BAD WORK.

Caloutta

New York

Semerang

Canton

Owaln

Shanghai

Haiphong

Paris

Singapore

Honolulu

Poking

Bourabaya

Kabe

Penons

Thipsh

Kowloon

Lomion

Rangoon Saigon

Housin

токто

%

JOURT OF DIRECTORS:-

lion. Mr. 1. G. Meranti,..

Chairman.

11. Br. A. G. Læsj, Dopaly Chairman,

W. 11. Hell, KAQ.

J. A.

à, li. Compton, Kaz

W, I, Paldenden, Eq.

AKUY

IDT ~

9, 0, Waxil, Xia, TWO, K.

M."YouDE, Karą,

blof ManagD!

A. . Barlow, dug

BANGRUR.

BATAVIA

BOMBAY

CALCUTTA

CANTON

BRYOO

*COLOMAD

-BRANONS:-

LONDON

LIONH

MALACCA

MANILA

MOUKDEN

PENANIE

Manila

Correspondente uities of the world.

a principal Every description of Banking and Exchange businoses transacted. Loans granted on approved securities.

SAFE DEPOSIT BOXES to let

KAN TONG: PO,

Chief Manager.

Hongkong,. 22nd May, 1925.

ХАНАВАКО

NEW YORK

PERING

4

行银商工法中

DAIHEN. YOOCHOW

KANGOON

HALPBONG

SAMON

BAMBURG

SAN FRANCISCO

BANKOW

SHANGHAT

HABHIN

SINGAPORE

SOURABAYA

HONGKKW

ILOILO

1POU

JUNORE

кови

KUALA

LUMPU

BUNGEI PATANI

TIENTUIN

TOKYO

TSINGTAO

YOKOHAMA

Current Acounts opanol) is Sesand Cherones.

and Fixed Depalle spastrod for one your or sharter partilhacal Currency

on terms which will

T

quoted in appleLN GÖL KA

Rongmony, 12th Catobar, 1926,

HONGKONG SAVINGS BANK.

BANQUE FRANCO-CHINCASE pour...le

DEDUCTIONS MADE FROM WAGES.

AN UNUSUAL CASE.

It is not often that His Majesty's Judges are called upon to decide questions arising under the Truck Acts. The principle that the wages of an artificer "shall be made payable in the eurrent coin of this realm" is now

so generally recognised, that

complaints of payment in "truck

are

very beklom heard. In a recent case; however Riverside Mill Company Limited v. Hart) which was decided in the King's Bench Division on November 11, a somewhat novel point arose. A textile pieceworker was ander a duty to weave a good merchant- able cloth by performing her work carefully, and she was to HEAD OFFICE: 74, Rue St. Lazare.be paid according to a standard

Paris

Commerce et L'Industrie (Incorporated in France).

5. Chater Road, Victoria, Hongkong.

.Fr. 20,000,000,

list There was a custom that if the workmanship of aweaver was Fm.11.160.000,- bad or negligent, the employers Spenial Working Capital...F-60,060.000,- deducted fair and reasonable

Capital Egoro

Farla

BRANCHES Lyons

Thame of the clown Hank dited by the ONGKONG AND SHANGWAT

Saigon

Haiphong

BANKING CORPORATION. Halue may be oblained as application.

Peking

Shanghai

Marcsillos Hano Tientsin

FOR TON HONGKONG & HANGHA BANKING CULPORATION.

Canton

Hongkong

Hongkong, 17th Mar.108

A. H. Burlow,

Chief Abang

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussman, Paris: Subscribed Capital. Frs. 72,000,000.00 Paid-Up Capita Fra. 88,400.000.00 Reserve Fund

Fra, 50,667,288.54 BRANCHES. Hanoi.. Hongkong

Bangkok

Battambang.

JELO

Songtze

Dibouti

NuthLuk;

For-Bayard

Poole.

Haiphong

Veking

Hankow

· Pondicherry saigon blunghi Singapore ontain YOUTADU Pro-Penh Yunnand BANKERS IN FRANCE: Comptoir Nations d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas; Credit Industriel et Commercial; Societe Generale.

IN LONDON: The National Pre- riacial & Union Bank of England, Ltd.;. Comptoir National acompte de Pari; Credit Lyonnais..

IN NEW YORK; J. P.. Morgan & Co. French American Banking Corpora sion; Gusranty Trust Co. of New York.

Interest allowed on Current Accounts and Fixed Deposits according to

rangement: Every description of Banking and Exchange Business transarted.

A. LECOT,

Manager. Hongkong, 11th December, 1925.

NEDERLANDSCHE HANDEL MAATSCHAPPIJ.

(NETHERLANDE TRADING SOCIETY.):

Establlabed-1824. Hongkong Branch Established 1906.

Authorised (apital G. 150,000 000 £12,500,000 Pald-Up Caplía?....€ 80,000,000 £ 6,661,870 Reserve Fund, PANOZ 1.709,178 Special Reserve... 22, 80,00 £ 1888,330 HEAD OFFICE-Amatordam. DASTERN HEAD OFFICE:-Batavia. BRANCHES- Tandlermain Bandoerg Bombay

Falcutta

Djedink

Djokjakarta

Kula-Badja

Padang

Choribon Djanter The Hague

GRABUT

Kobe Medan

Palembang Vocalongs

Gaming

BANKERS:

Trust Co.

Every description of Banking and Exchange Business Transacted. Corre spondents throughout the world. A. BOLLIN,

Hongkong,, 1st December, 1925.

Manager.

· UNDERWOOD, & VIOLET999.5.2.

Eugene Meyer, Chairman of the Committee recently appointed by "President Coolidge to investi- gate conditions In the cotton growing industry,

The commit.

tee was appointed after an announcement by the Department. of Agriculture that over-produc-. tion in cotton was prevailing sent the price down so far as to of many threaten "existence growers.

INDIA'S TRADE. PROSPECTS FOR THE PRESENT YEAR.

TUESDAY, FEBRUARY 15, 1927.

HONGKONG TIDE

to develop at our and; but at presstead of golden sovereigns and sent all trade is dull. I do not half sovereigns. The task had to think that the exchange con be accomplished with extreme er- The tide-table given below häs troversy is really responsible for pedition. Five million 8 and ji been obtained by aid of the Tide the prevailing, dullness, for every 10s, Treasury notes were order predicting Machine which one agrees that the Government ed. In the absence, of proper aludes 40 components for the better is both anxious and able to thain-paper ordinary postage stamp predlation of tidam; from the re tain the fa. 6d. standard. But paper was commandeered and sult of the analysis of the tidal monetary conditions are every-hastened to a printing factory, observations, taken at the Haulung where singularly easy, and in where men turned out notes day tidal observatory under the direc......... spite of an excellent monsoon and and night. In three days the first tion of Dr. Doberck during the the prospect of good crops export 5,000,000 were ready. Since that years 1887, 1888; and 1889. bills are scarce. Let us hope for achievement Mr. Stonestreet has better conditions with the turn of superintended the ragular pro the year. Personally, I cannot duction of Treasury notes.

To-day they are printed on help thinking that we are in for

The times and haights are given- for Kaulung; but they may be used for the Viste Naval yard ́and: Aberdeen, the differences beind very small

The times of high-and low-wate

current, the

a period (possibly only a short special bank note paper whose one) of increasing imports. Cer-water mark baffles the most in- tainly the present indications, genious forger: The paper is must not be considered to coinside point towards some return of con-made, at a mill in Hampshire with the times of slack-water and fidence in future prices, but one which has manufactured Bank of change of has been so often disappointed in England notepaper for two cen- phenomena. being quite stinct,

February 11 to 17, 1927. the past that one can count on turies, and every piece of water- nothing definite..

marked paper is carefully, check-

DATE HIGH Water LowEn. Warna ed and docketed. The actual notes are printed at Messrs.

Standard Standard Feb

Et Waterlow's works at Watford,

Times

Timed where production is controlled by

Qi 18:32 4.2 a special Inland Revenue staff.

Treasury notes to the value of Sat 19 m 7.56. 41m 1 11 1.8 £300,000,000 are in circulation,

£5,000,000 IN 3 DAYS.

Secret History of Treasury Money.

L

An interesting episode of the war is revealed in connection with the retirement, after 40 years service, of Mr. G. W. Stonestroet, director of stamping to the In and Revenue. On Mr. Stone, street fell the duty at the out- break of the war of providing the country with paper money in

Et

82.3

H 250

8 3863 zo 18 17 3.8.

6.8

*m 11: 21 Fat

T

I lea

ALA

48 4.2 m

10: 17 a 15.7

1 $71.0 10.3.5.

5. 120.9 303,3

each note bearing its own human. 13 m ber, which is never duplicated or Mon. 14 8 46 4.2 repeated. Soma 10,000,000 are recalled, and replaced each week. Tass 13 m 10 14 43 Mr. Stonestreet began his officia!

8 48 7:3 work as an excise officer in 1886, Wed. 18 m 10 394 m 3 47 0,8 9:27 17:31 345 m 3:1 becoming a clerk in the Inland Thur 17 m 1346m 20 Foun Revenue two years later.

104% 97:1 13. 18.618

1

HONG KONG MARKET PRODUCE.

Beat Sirloin:

» Prime Cut.

APPROXIMATE RETAIL

Butcher Meat.

Corned

Roast

1

Breast

Soup

Steak

28

tu

Steak Sirloin Sausages

2

17

Tongue, tread.. Bullock's Brains.

Tongue, corned Head'.

Jan. 27. June, June,.

1027, 1918. 1914.

Cis. Cia. Ct.

牛尾

Jb.

27 24: 12:

Chick on

牛肉

compensation for damage to their cloth. The employers in paying the piece-worker deducted on this head, and she claimed that, al though she had in fact been negligent, the deduction was un- lawful. It was conceded that the deduction of 6d represented less: FRANCE:Bociete Generale, Bangthan the actual loss caused to

Nationale de Credit Banque de

the employers. The magistrates

·Paris et des Pays Bas

held that the "standard list" was LONDON-Midland Bank, Ltd..

As I anticipated a fortnight. NEW YORK-Irving Bank Columbia the rate of wages applicable, and that there had been an illegal deduction by way of fine. On ago, the Government have been appeal to the King's Bench, their forced to sell reverse councils to a majority, held the tune of £500,000, writes the lordships, by that as there was an implied con- Calcutta correspondent of the tract that the respondent was to "Manchester Guardian I use be paid for her work according to the word "forced" advisedly. I a standard list, subject to a fair take it that if left to itself the and reasonable deduction for bad exchange market, weak as it was, work, the amount paid represent-would not have dropped bei-w, Is. THE CHARTERED BANK OF

led the entire wages due, and the 54d, but, in any case, when that INDIA, AUSTRALIA & CHINA.

deduction not being from the figure was approached, it was up Justices was wrong and must be crete evidence that it really Incorporated by Royal Chater, 1868. standard list, the judgment of the to the Government to give cons

HEAD OFFICE: LONDON, Paid-up Capital

£3,000,000 Bet aside. It will be seen that meant business. £4,000,000 the decision rests upon this: that the employers and the artificer £5,000,000

had, in effect, agreed upon a cer- at tain method of arriving the wage to be paid. In the old Blackett has himself taken the Calves? Hend & Feet., 4ĦEE case of Redgrave v. Kelly (1889), floor on more than one occasion Mutton Chop 37 W.R. 54), it had been held recently and replied in public 10 that the deduction of fines from the Indian Currency League. Hu wages for spoilt work is merely has cartainly given as good as he non-payment; but in Smith v. got, and more. The main ques Walton (L.R, 3 Q.P. 109) it was tion is what view the naw Legis- decided that if an employer relative Assembly will take, at its quires a weaver to take a piece first session in February, of the of cloth damaged by him in recommendations of the Indian weaving, in discharge of wages, Currency Cominission and the de- The pays "in goods," and is liabie cisions of the Government there-

to be fined. The decision in the on.

Reserve Fund.... Reserve Liability of Proprie.

tors....

Agencies and: Branchos.

ALOR STANL

Malny Hinton) AMRITSA BANGKOK BATAVIA BUSWAY 19 CALOUTTA CANTON CAWNPORX GENU COLUMBO DELHI HALPBONG HAMBURG

HANKOW HONGKONG 110110 IPON KARADHI

Конк

KLANG

KUALA LUMPUR '

KUCHING

"י

MADRAS MANILA MRBAN N NEW YORK PEXING PENANG PESHAWAR POKET LANGOON BARHON SEMARANG "

GREMBAN

·SANOMAT SINGAPORE NOURABAYA TAIPING IF.M.B.) TAVOY

TOKYO

THINUTAQ

YOKOHAMA ZAMBOANGA

(Philippine Islandia).

If further proof were needed that the Government mean what they say and intend to hold ex- change at is. 6d, Sir Basil

"

Log. Shoulder

#S

Saddle

23

Pig's Chitlings

י

PRICES.

Poultry.

Jan. 27. June, June, 1927-1918. 1914

Cte. Cta.. Cts."

ib.

60

80

81

65. 28 30

60: 28

60

27 28: 12: 82 23. 12:

27 24 92

Capons, Small' Capons, Large

Duck

Egge, Heit (cooking).

Eggs, Ken (fresh)

Fowls, Canton

Hothow

Turkeys, Cock Turkeys, Hen Snipe

Pheasant Quail Furtridges

Almonds

Apples (California)

Baranas (bride's)

Carambola

EE INKEA SISENESS

Fruits.

40 23 21

70 30 24

FF

sach

22 21

per doz, 30:

18

35 25.

20

lb.

#.50

35. 24

45

24

2.4

each 55

B0

15

85 28

Ib. 65.

80 51

each

pair. $2.00 Back 30

25

24 20 18

24 20. 18

27 24 22.

46 80

40

23 30

Fowls, Hainan

per set. 15-

10

12

Geçue

each 60

"80.

60

Pigeons, Canton

"

• $1.20

-$1.20

Heart.

15.

22

Hump, Salt Fest Kidney

"3

34

13

each 10.

12

15

12.

Tall

H

28. 20 22

st

Liver

lb.

22.

1:4

TA

Tripa

8.

7

*

set $1.20 $1.00 $1.00

56 ib.

路

BG

62

*

55.

55:

40

27

20

11

Brains

Per set

8

12

5

14

Feet

Ib. 16

12

#

Fry

20

18

ม

Cocoanuta

Head

20

耀

exch 14

10 1t

Lemone, China

Ib.

12:

0

"

Heart

each

13

10

Lemans (America)

"J.

Kidneys

猪

12:10

8

金樺康 each

7.

0

Lichees, Dried

2F

*Live:

## 15.

4B

80

24

荔枝干

36

80

Oranges (Canton).

38

28

̇新會甜卷

12

77

Orangas

18

15

Iveg

35

17

12

Loin

豬後

Paars (Canton)

14

40

70

*

14

""Fat or Lard

猪

26

tinental and American forms. In Sheep's Head & Foot per set. 90 this proposal, however, there is

М

21-

70

4

Heart

each 14

each 15

Kidneys

15 12.

10:

Liver

1

55

25

2 25. 22

Grapes

80

-18

#

65. 20

20

26.

19

40

20

No. 1..

32

Fish.

14.

16

18 18 181

20 " 16 24

case under review is based upon On the whole, so far as I have Foreign Exchange and General Bank Redgrave v. Kelly (supra), and been able to gather, Indian opin- ing business transacted:

Current Accounts opened and Fixed serves to emphasise the point that on is strongly in favour of a re- Deposita received for 1 year or shorter there is no objection to an em-serve bank, modelled on the Con- periods at rates which will be quoted ployer making deductions from of application.

A. H. FERGUSON, Wages for bad work."Engineer

ing."

."

Manager.

Hongkong, let August, 1926.

TAIWAN GINKO.)

The English Electric Company Ltd., of Queen's House, Kings THE BANK OF TAIWAN, LTD. way, London, who have a branch office at 3, Hale Street, Ipoh, have secured the order, for the two 6,000 K.W. steam turbo alterna tor sets to be installed in the Tea 15,000,000 steam power station of the Perak 19,875,000 River Hydro-Electric Power Co.,

Incorporated by Special Impariat Charter, 1895.

Pontianak Rungoon

Penang

Shanglesi

Capital Subscribed Capital (Paid-up).

Batterium

Sourbals Shoiga (Sumain)

Singapore Tilatjap

agal

berzkarta (solo)"READ OFFICE:--Taipeh, Formous. Welleviedin

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

DESCRIPTION.

O. STEENSTRA,

Manager,

Hong Kong, 30th December; 1926.

THE YOKOHAMA SPECIE BANK,

LIMITED.

Ritablished 1880.

capital (fully paid-up) Yen 100,000,000 Reserve fund... Yen 89,500,000

Head Office:—YOKOHAMA,

Branches and Agenciem aci Alexandria.

Newchwang, Batavia.

New York:

Bombay.

Buenos Ayrai.

Calcutta,

Janton.

Jhangchun.

Dairen (Dainy).

Osaka.

Peking Rangoon.

Rio de Janeiro. Saigon.

San Francisco.

Fengtion (Mukden). Seattle.

Hamburg.

Jankow... Harbin

Kai

Kong.

"Shangha

Shimonoseld. Singapore. Soorabay

Bydney.

Tientsin. Tokyo. Tsianfa Tsingtau Vladivostok.

BRANCHES:

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

The An Oorrespondent in the OniamercÍK Contres the Borupean Coulton, Rosie, Man shorta, Tinglab, Japan, Todo-Clunk Mizz Bodin, Philippine Islands, Java, Africa, d

Interest slowed on Carrent Apoosale, nad' Fixed

Ltd.

THE BANK OF CHINA. 行銀國中

Daponics at Talas, which will be quoted on applice (Specially Authorised by Presidential

in a

Fork Chop

11

PORREKREACE-IRBE÷BOKE¢ER#2015###KR #C

و"

this danger, that the withdrawal of Government balances from the Imperial Bank of India and their Sucking Pigs, to order. b. concentration

new and Suet, Beef

Mation separate central bank may to

Veal some extent affect public ton-

» Sanpages Adence in the "Imperial," as the merger of the old three pre- sidency banks is popularly called: If there were any real danger of this result, the formation of a Barbel central bank would be a mistake. Bream There are, however, many ways Canton Fresh in which both results can

be Water Fish. secured. The confidence of the

Carp

Coffish Crabe. Cuttle Fish

Bele, Conger

Fresh Water

"

The Bynch Steel Company, Indian public and the attraction Catfish JAPAN-Tokyo, Tokohama, Kobe, Laughor, near Swansea, have of private deposits to the Im-

Osaka. FORMOSA: Giran, Kagi, "Karenko, just completed an important deal perial Bank of India will continue Keelung, Makong, Nanto, Shis-y acquiring, by private tender, if, as is proposed, Government: chiku, Talebu, Tainan, Takso, the adjoining works of the St. balances are still left in up- Tamsul, Town, Heito, Taito." David's Tinplate Company, now country branches of that bank. Dace

Amoy,in liquidation. The tinplate Other balances may then be sufe CHINA-Shanghai, Hankow,

Foochow, Swatow Cantors. OTHERS: Hongkong, Singapore, works, which contain 11 mills, ly transferred to the new central Dog Fish

Soerabaya, Semarang, Batavia, with a capacity of 10,000 boxes a bank. Bombay, London, New York, week, will afford an outlet for There is one further step which, Yellow 'Calcatta,

the Bynea Company's steel bars. I think, might be taken, and

which will help to focus public Frog confidence in the Imperial Bank Garoupa and that is that the funds stand. Gudgeon Herringa ing to the credit of co-operative

Hallbut societies throughout India should, where possible and convenient, be Labrus lodged with that bank. It is not och Mandato of the Republic of China

at all unlikely that Lord Lin Lobsters on the 22nd of November, 1917). Authorised Capital $80,000,000.00 lithgow's Agricultural Commis Mackerel

Monk Fish "{Fald-up Capital

$18,278,600.00 sion will recommend a strong for

Mullet Reserve Fund

...............$9,820,425.24 ward policy in regard to co-opera- HEAD OFFICE PEKING.

tive societies, which have admit-Oreters tedly done much in the past to Parrot Fish

Parch HONGKONG BRANCH: foster agricultural credits and 4, Queen's Road Central

which might do considerably Branches and Sub-branches all ever Chirs and Correspondants in Europe, more in the future on the same

merian, and other parts of the world. lines. The cause of co-operative entrat, Black Lonion Bankers: The National Proyin systems in India, both rural and Belal and Union Bank of England, Ltd urban, would be distinctly adv The Guaranty Trust Company of New vanced if they were associated Ray New York Bankers The Irving still more closely, than at present Rock Fish

Bosch with a bank of the standing of thà National Banke The Equitable Trust Company of

Balanom Imperial Bank of India.

itt doe!

to anti

den

T. TAKAGI,

HONGKONG BRANCH,

·Manager.

8. Das Voix Road Central, Hongkong, 7th May, 1926.

w

THE BANK OF CANTON, LIMITED

ilead Office-Hongkong,

ESTABLISHED":15

Authorted Capiai.

Paid Up, Capital

Bliver Exeserve. Fand

EL,200,000 750,000 Carton Shangling Hankow, swako Bangtok, New York, and San FranciB06, Korespondente in all Principal cities of the

BRANCHES

Karach Коре London Los Angeles.

yona.

Kaguanki. Nagoya

„Intermit allowed on Current Accomta, krydsemiption quest wingi baglbang

(Temporarily

'clauad).

Deposita recaigad for fred periods at

estos doʻbe obtained, or application

World.:

· LONDON-BANKERS

Interest allowe and÷Find Deppafí

Platos

Pomfret,

CRE

屠肚 水

公

1 * & ***** | 282AAN | 6882 |

Peanuts

Persimmons, Large S

Plantain Fumeio, Slam Wainuta

Artichokes

授神花紅大道

DE-550 Sqač Bak &

• } ]} [ 2*8NI-9]

14

each 2 8

Ib..

8

5

6. 9

82 12. 9.

24 20 20

40- 28.

26

13 18. 2

Vegetables, &c.

Beans, Sprout...

Long Beet Root Bitter Squash Brinjale, Green

Red

Cabbage, Chinese 17.

(Shanghai)

Cane Shoots, banch

Cauliflower (Largs)

(Medium)

Beach 12

ib 5.

ሱ፡

竹染角瓜瓜瓜染染

... 14

esch 18:

1,70 28 10

14.10. 9

*(Small)

11

12

10.

8

"

Carrots

8.

#

28 10.

Celery. Chiness

18 10 18

糖臭...

8

10

Chillies, Dried

90 25

95

行

20. 80.

Rad

12

60

*32 · 25

Green

紅辣椒 青花

10

28 8

65

40:80

Curry Stuff, English

15

32.5 22

13.

28 18 28

Gingar, Young

H

28

18

Depot Old

65

24

Horseradish, Shanghai.

器 82 21

Indian Corn Co

55 20

26

Lettuce

82. $29

18 皆

Id 42

14 18

40:

20

15

Cucumbers

Garlia

24 14 9

16 18 9. (48:28 14

14 1318

Water Chestants

Mandarin. AR

Mushrooms, Frosh Okroes Onioni, Bombay

Green Shanghai

Parsley Potato, Sweet

Гарането

Pumpicin Radish

50 26: 29 55 66 30

30 30 45

*10

6

7

from: £300, 20 840,00, yearly,

LOOK POON SHAN,

"Hong Kong," 10th December, 1996.