HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorised Cupitel 180.000,008. Issued and Pusity Paldrup $30,000,000 Roses Publi
Awling....
Alle
[- 1,000,000 (4,600,000
Epoorva Llaháčiky nt Pròpilators 20,000,000
READ OFFICE; TONOTONG.
COURT OF DIRECTORA
A. M. Catopion, Faq,
Chairman.
N. B. Drawu, Esq.
Deputy Chairman,
W. IL. Bell, Raq.
Tom, Str. C. Q, 8. Machio.
Hon. Mr. D. D.
.
.
- A. Morgowno, Vaq,
T. G. Well, Esq.
?
AMOY
W, L.. Patiendin, Kaq-
II. P. White, Esq.
Chief kuungur
Jon. Mr. A. D. llynes
BANOXOK DATAVIA BOMDAY
CALCUTTA
CANTON
CARPOO
COLONBO
DAIBEN FOOCHOW
UMPTIONA
HAMDUNO
BANKOW
KREN
HONGREW
ILOILO
ros
JOHTORE
KUBE.
DRANCHIES:-
KUALA LUMEUR
LOSION
LYONS MALACCA MANSLA MOLKDEN
NALJADAKI
NEW YORK
PEKINO
PENANG BANGOUS
NAFUN
MAN FRANCISCO
SHANGHAI
SINGARKE
HOURA HAYA SINGLA PATANI MIESTAIN
TORYO
THINUTAO
YOKUTLAMA
Current Account opened in Lesen Currenty.
Fixed Pegemila Ferated for our JENDE shular put Currency sad Bali
will guated on apple:Jou. Hong Kong, 14 May, 19
10 Letra
HONG KONG SAVINGS BANK.
This Business if the wine Bank coduri-
by the 105NOKOSH AND BILA SABẬT Itals La ba
BANKING CORPORATION.
wined pan{2}x{}vm1**
FOR THE HONGKONG
卤 SILANGNAL
BANKING CORPORA PRIS.
A. C. BYNES,
Chief Manager,
Hong Kong 18th September, 1927.
NEDERLANDSCHE HANDEL
MAATSCHAPPIJ.
(NETHERLANDS TRADING BOCIETY)
BANKEN,
Established 1834.
Hong Kong fine -19 Queen's Road Central.
Authorfend Capital
Fald-Up Capital
Gulider 150,000,600- [£17,500,000.) Guilder 80,000,000
Barvy Fund rider 40,000,000-
ited On:-(AMSTERDAM*), Exstori Hem Off:-BATAVIA.
URANCHES:-Basdjentamin Balong) Borobing,
Casattu, Charbon, Jidámb, Djember, Djokjätta, The Eg'). Babe, Ko Rads, Miksanut, Mesian, Padang Рервый. Pelaming Takalongan, l'entiatie Baugoon, Rollerdun'), ) Sarang"), Rasughai, Bibolga (Sumatra), Spersbala. Soorakarta (80401,
Tiating Bod
Wellawroden.)
*These offres bare safe deposit bonus to let
London Bukare:-National Provincial Bank Ltd.
Correspondenta a oter the world
25g buizens of urary domcripulan sucied.
D. STEENSTRA,
Hong Kong, Beth July, 1977,
Munger.
BANQUE DE L'INDO-CHINE.
HEAD OFFICE:
95, Boulevard Haussman, Paris, Subscribed Capital.. Frs. 72,000,000.00 Pald-Up Capital.....Fus. 68,400,000.00 Fre. 89,384,519.10 BRANCHES:
Reserve Fund
Quinhon Battambang Hong Kong Saigon
Canton Nam-Dinh Singa, to
Bangkok Hanoi
Cantho
Mengtze
Shanghai
Dubouti Noumea
Tientals
Fort-Bayard Paperto
Rourent
Haiphong.
Peking
Vinh
Pondicherry BANKERS:
Bankow Paom-Penh Yunnanfu
行銀商工法中
BANQUE FRANCO-CHINOISE pour le
Contmerce et l'Industrie (Incorporated in France).
Prince's Buliding, Chater Road,
Hong Kong.
HEAD OFFICE: 74, Rue St. Lazare, Paris. Capital fully paid up....Frs.60,000,000 Fpecial working capital.. Frs.50,000,000 Reserves
..Frs.22,310,000
BRANCHES: Paris, Lyons, Marseilles, Salgor, Haiphonk. Hanol, Tourane, Quinhon Hue, Thành hoa, Vinh, Prem Panh.
Poking, Shanghal, Tientsin, Hong Kong.
BANKEIS:
THE CHINA MAIL,
BRITISH INDUSTRY.
RISE IN PRODUCTION COSTS.
STRIKING FIGURES.
COMMERCE
AND
FINANCE.
£50,000 TAX FRAUDS. James
PRISON FOR COMPANY
DIRECTORS..
The case
at Birmingham As alzos, in which Ave directors of Burton, Delingpole, and Company, Analysis of wages costs in the screw manufacturers, of Birming- great exporting industries shows ham and Old HM, were charged that these average between 80 and
40 per cent. of the total costs. This with tax evasions, totalling over average, it is painted out, does not | £50,000, came to an abrupt and Include the element of wages when the defendanto withdrew which is contained in other items
of cost (such as materials), and their plea of not guilty and plead honce it bears no relation to the ed guilty. Mr. Justice Avory ex- A wide field is covered by the calculation of the total proportion pressed a wish to have evidence of fourth preliminary volume issued of the value of the products of in the extent to which the frauds had by the Committee on Industry and dustry which represent wages. been committed. Trade, under the title of "Further The highest percentage found for
1925 Factors in Industrial and Commer-important Industry in Exchange Irving Trust Co., Banca Commercinl Efficiency." The following that for coal-mining (70,7), ciale Italiana.
are among the conclusions put for- ward:
FRANCE-Societe Generale, Banque Nationale de Credit, Banque de Aurb'et des Pays Bus. LONDON: Midland Bank Ltd. NEW YORK:-American
SAN FRANCISCO:-Bank of Italy.
Every description of Banking and Exchange Business Transacted. Cor respondenta throughout the world.
A ROLLIN,
Manager. -Hong Kong, 18th April, 1928.
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853.
HEAD OFFICE: LONDON,' Paid-up Capital
.£3,000,000 Reserve Fund'
.£1,000,000 Reserve Liability of Proprio-
tora
£3,000,000
Agencies and Branches:
ALOR STAR
(Malay Reid)
AMRITRAR
BANUKOR
BATAVIA BOMBAY CALCUTTA CANTON CAWNIORE CENU CULOHBO
KUCHIXO
MADRAB VANILA VEDAN NEW YORK PEXING PENAND PESHAWAR DANGOON SAIGON
SETARANG NEHEMIAN SHANGAI SINGAPURE
HARRIS IN. Manchain). TAIPING
DELHI
HAIPHOND
HANHUNG
HANKOW
SOUBABAYA
(5.31.8.J
..TAVOT
TIENTSIN
NUKAH laukkur)
THINGTAO
YOKUARA
HOND KONA
11.0210
2011
KARACHI
KLASU
КОНК
KUALA KANGSAR
Porak (FM,.) KUALA LURPUN
TOXYD
ZAMBOANGA
Chilippine Jelarria)
Foreign Exchange and General Bank- ing business' transacted.
Current Accounts opened and Fixed
on application.
Deposits received for 1 year or shorter periods at rates which will be quoted
A. H. FERGUSON, Hong Kong, 3rd April, 1928.
Manager..
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO). HEAD OFFICE: Taipeh, Formosa. Special Imperial Incorporated by
Charter, 1899,
the
Between 1913 and 1925 power capacity in heavy Industries rose from under 8,000,000 h.p. to
over 13,750,000 h.p. There W28,
however, a wide discrepancy be-
tween the increase in horse-power and the Increase in productivity per head of the working popula
tion.
was
I
Shorter Working Week. Comparing 1925 figures again
An advisory accountant to the Board of Inland Revenue' read a statement showing the profits as originally submitted to revenue by the defendants and those ultim-
1
MONDAY, MAY 28, 1928.
Thomas Tiley to nine months", Vincent Edwin Young to six months; and William Willetts
to four monthe', all in the second division. They were also ordered. jointly and severally, to pay the costs of the prosecution.
Two recent Chancery' motions on behalf of the British Dominione Films Corporation (Limited) re- lated to the use of the title "Dawn" Herbert for stage plays. Mr. Sydney Wilcox, of Elstree, and Mr. of Marlow, Reginald Berkeley, wore associated with the Corpora- tion in
before Mr. motion ↓ Justice Astbury by Mr. E. Mac- Gillivray against the Miliane Stock Company; propriators of a travel- ling repertoire company, to` re- strain them from using for a play the title "Dawn," or
any other that the title which represented play was one upon which the plain- tiffa cinematograph film
•
HONG KONG TIDE.
The tide-table given below has been obtained by aid of the Tide-predicting Machine, which includes 40 components for the better prediction of tides, from the result of the analysis of the tidal observations, taken at the Kaulung tidal observatory under, the direction of Dr. Dobarck during the years 1887, 1888 and 1880,
The times and heights are given for Koulung; but they may be used for the Victorin Naval Yard and Aber-
deen, the differences being very small.
The times of high-and low-water must not be considered to coincide with the times of slack-water and change of current, the two phenomena being quite dialiţiet.
DATE
May 25 to 31, 1928.
Hion WATER LOWER WATER
Standar
Ht
nur town
ม
nor Low
May i
Fimos
"Dawn" | Fri 26' No Infedor
no connection
* Ba
28 No Interior Ligh
1 40 a 270|48
water
01 a
water
10 33 4.3
4 p. 16.5
2.04 02
11341.7
0 41 4.1
4
1.W
5.6
748
43
8 2 a 4.7
was based, or was based on the ately disclosed on investigation.atory of the film. The defendants at with those of 1913, the Committee The total amount for the years had been playing a play called "At suggest that the average rise of 1911-1918 was £82.420, the amount Dawn," which had direct wages costs in the cases for of duty evaded being £50,244. This with the Alm, and were ready to Mon, 18 6
in respect of income-tax, agree to the injunction, which Mr. which comparable data are avail-was
Astbury
Mr. Tugs. 87, m 7. granted. Justice Eve granted a similar in- ablo was in the neighbourhood of super tax, excess profits duty, and Justice
Wed. 5) 75 to 80 per cent, while the aver- munitions levy.
John Burton and William Henry junction against the Fred, d'Albert age rise in rates of wages in the
sentenced to Repertory Company in respect of a Thun 31 Delingpole were Industrial coats increased by 80 great exporting trades, it is esti-
twelve
imprisonment, play called "Daw." to 90 per cent. during that period, mated, did not exceed 60 to 70 per Wages average 30 and 40 percent. There was thus a marked discrepancy between the incronses cent. of total costs.
in wages and in labour costs in spite of the progress made in the equipment of industry with plant and power. The Committee add that they find it difficult to resist the conclusion that the residual
:
The length of the working week has been reduced by about 10 per
cent.
Over-capitalisation criticised as "fettering freedom and paralysing Initiative" in those running busi-
nessed,
for
The retailer charges more his services than the manufac- turer, as compared with pre-war figures.
VAST GROWTH OF POWER.
Increased Output.
In a comparison between the first Census of Production in 1907 and that of 1924 it is shown that during those seventeen years the number of persons employed in the mining and manufacturing In- dustries surveyed increased by 17 per cent.; the money value the net output by 131 per cent. and the average output per head by 96 per cent. During the same period the power capacity in the
industries considered
кове
of
from
something under 8,000,000 h.p. to more than 13,750,000 h.p.
months'
it u
#146 B
3.
233 B
21.
Y.3
2 14 a
HONG KONG MARKET PRODUCE.
* Roast
factor which accounts for at least part, and possibly the greater part of the increase in the "real" cost of labour in production is the re- duction in the length of the work- ing week between the dates com- Beof Sirloin pared. This reduction averaged on the whole about 10 per cent.
On the question of the evils of over-capitalisation, the Committee remark that these, though not of the kind commonly supposed, are very real and serious, and exert a prejudicial effect on the minds and policy of the men running such Bullock's Brains businesses in fettering freedom and paralysing Initiative.
Breast
.. Soup .. Steak
#!
APPROXIMATE RETAIL
*
PRICES.
Poultry.
May 25, June, June,
1928. 1918. 1914
Cta. Ct. C
Butcher Meat.
May 25, June, June,
1928, 1918 1914.
Cla. Cts. Ctu."
R
I.
28
24
11
Chicken
Prime Cat
26
28 12
lb. 55 80
24
#
Corned
23
- 12
Capons, Small
40 28
"
28
24
92
Sapons, Large-
*
40
28
#
Duck
24 20 18
#
40 22 21
Doves
26
20
IB
班
#
sach
22
28
24
92
Egge, Hen (cooking).. ❤
per doz. 82
18
40 30
Eggs, Hen (fresh) ...
新鲜期版
38
215
40
26. 20
Fowls, Canton
**b.
€5 38
per but tå
Fowie, Homan
LO
* MU
.40 36
31
Tonguo, fresh..
Geese
oach 85
50
60
#Z
45 24
JO
Tongue, corned #
Pigeons, Carton
A cách 55
80
60
Holhow
K
Head
$1.20
92 28
* $1.20
*
Heart
ib. 70
19
lb. 24
13
14
#
Hump, Saft
1
61
.34 20 18
exch
Fest
I
each 8
10 12
་
Kidneys
15 18
13 ..
pair
2
Tail
each
.9.8
20
2%
Liver Tripe
1b. 24 18 14
7 6 7
+
Steak Sirloin .. Sausages ...!
.:
12
Calves' Head & Feet.. 44f #33 at $1.20 81.00 $1.00
1b. 16 26
There is no question that the gigantic financial operations by which so many of the Lancashire cotton spinning mills became over- capitalised have acriously added to the economic difficulties of the cotton industry. It is one of the most disquieting phenomena of recent years that shrewd business men Matton Chop with local knowledge and experi- once should have allowed a great staple industry to fall so easy a victim to speculators and company Pig's Chitlings proportion to the increase, of me.
promoters. The cotton industry chanical power, but the wide dis-
does not, of course, stand alone, as crepancy between the rates of in-
cases of reckless over-capitalisa- FORMOSA: Giran, Kagi, Karenko, crease of horse-power and production might be quoted from the Keelung, Makeng, Nanto, Shin- tivity per head of the working post-war history of other trades
Taichu, Tainan, chiku,
population contrasts unfavourably and industries. Tamaul Toen, Hoito, Taito. CHINA: Shanghai, Hankow, Amoy, with corresponding figures for the
Foochaw, Swatow, Canton.
It is, of course (the Committee observe), not to be expected that Yen 45,000,000 productivity will increase in direct
Central Bank in Formosa. Bank-Notes issued Average amount
BRANCHES AND AGENCIES: JAPAN:-Tokyo, Yokuhama, Kobe,
Osaka.
Takso,
United States,, which 'between 1904 OTHERS-Hong Kong, Singapore, and 1925 the rates of increase of
Boerabaya, Semarang, Batavia, Bombay, Calcutta, London, New York, Dairun.
LONDON BANKERS:
The London County Westminster and
Parr's Bank.
net industrial production
Retail Prices.
4
D
"
Leg Sherider Saddle
44
17.
Turkeys, Cock Turkeys. Hen
Snipe Pheasant
Quail Partridges
*20
SO SEURS 71s9SRES
*
* 8 8 9 9 9 188 943 889||||
***** TREZITRO
བྷསྶ སྐབྲཱཧྨསྶ}||ཋee21 |.
Fruits.
16 28
44 24
48
Almondi,
告
Jb. 45
35
30
27
Brains
ED
Per wet &
12
Apples (California) 會慳彤 Bananas (bride's) #
**
25 24
ย
Feet
Jb. 15 15
Carambols
h
Fry
28 16
18
#
Cocoanuts
each 12
Head
15 20
M
Lemons, China
16. 12. 25
Heart
H
##
each '15
10
10
Lemons (America)
Kidneys
15 10
3
金山簿道
8 Bach
Lichees, Dried
lb.
Liver
lb.
48
24
#
Pork Chop
热
25
23
Dranges (Canton) ...
UNO
iz
.20
Oranges ...
.26
Log
70
Pears (Canton)
A
Lola
Peanuts
14
Fat or Lani ̧...
21
Head & Font.
per set 90
Persimmons, Large
70
Plantalo
1
H
Heart Kidneys Liver
Pumelo, Sam
10
#
Walnuts
26 25
22
18
26
20
Articbukes
#
and The conclusion that, on the horse-power per head of employees average, the price charged by the were almost identical, i.e., about retailer for the services which he
Such differences pa- performs has increased since 1918 Sheep's 64 per cent, The Bank has Costarpondents in the Commercial turally suggest the question whe by a greater percentage than the Centres in the Europe Continent, Ituala, Sather in Great Britain full advant-price charged by the manufacturer shuria, Talagtas. Japan, Indo-China, Slam, India, Philippias lalande. Java, Ateter, U.S.A., Autollage has been taken of the increas for his products is reached after
accounts of Sucking Pigs, to order. Intre allowed on Current Accounts, and Fided power available, and whether analysis of the 1925
net have two IN ANCE: Comptoir National Depot at rates which will be quoted an applies some other factor may
great departmental stores, Suet, Beef d'Escox
⚫ de Paris; Crodit Lyonnals; ou. Depolis In Yen can be accepted.
J. IHARA, been simultaneously operating to three important co-operative socie-] a Paris et des Pays-Bas;
limit per capita production, or to ties, and six proprietary provision Val keep the costs of production above businesses. the level at which the full output can be disposed of on
L
Banque Credit Ludustriel of Commercial; Societe HONG KONG BRANCH: Generale.
3, Den Vocux Road Contral. Hong Kong, 22nd. September, 1927,
IN LONDON: The National Pro- vincial & Union Bank of England, Ltd.; Comptoir National d'Escompte de Parla; Credit Lyonnais.
IN NEW YORK: J. P. Morgan & Co.; Franch American Banking Cor- puration; Guaranty Trust Co. of Now York
Interest allowed on Current Accounts ad Fixed Deposits according to .arrangementa.
THE BANK OF CHINA.
Every description of Banking and Paid-up Capital Exchange Business transacted.
Reserve Fund
Safe Deposit Boxes to let.
Hong Kong, 1st May, 1928.
.
HEAD. OFFICE: PEKING.
"
24
1-48288312 38 *** *88811
** ** 8 *** AA FANK
each 12
འབྲུ ་ ད ན་
1b.
+
Grapes
Beans, Sprout
Beet Root
17
Long
4
esch
20
ib.
50
lb.
Vegetables, &c.
each
12
10
13 8
10
8
24
12
5
10
5
12
Brinjale, Green
Red
Cabbage, Chinese ...........*
(Shanghai) ̧.
大鄉花 each
Cauliflower (Large)
ཨྰ བྱཱ ཋ ཋ ཋ ས བྷ སྐྱུ།| |1 |* |g ཤཱ ཀྵ ཏྐ ཨ ཨྰཿ སྱཱདྡྷི པྟཱཿ ཿ ཡཾ
SERE · 146C622NA -EKS BREY
**RES
Mutton
Manager.
1
Sausages
economic
The result is to show that the "gross margin" between the cost
No. 1..
terma.
行銀國中
(Specially Authorised by Presidential
Mandate of the Repubile of China on the 22nd of November, 1917).
Authorised Capital
CH, LEM.
Manager.
HONG KONG BRANCH:
LIMITED.
to the departmental stores of the An average rise of between 80 goods they offer for sale and and 90 per cent. in industrial costs price at which these goods are is indicated in un analysis of the sold retail to the consumer aver- costs for fifty undertakings in aged 26 per cent. of the retail price
Water Fish. 1* 1925, as compared with 1918. Tak in 1925, as compared with 20 per ing 1913 as 100, the total costs for cent. In 1913. The corresponding Carp $50,000,000.00 1925 range from 120 (heavy oil en "gross margin" in the case of the
18,278,000.00
1.C29,125.24 gines) and 133 (blasting explo- three co-operative societies
sives) to 276 (Egyptian, cotton aged 20% per cont. in 1925 and Cattle Fish
Of the groups
of 19% per cent. in 1918. apinning). trades, the textile group, with an Examining the question of how pa
thefar this rise in the "gross margin" average of 225, shows much 4, Queen's Road Central.
or Eels, Conger ... Branches and Sub-branches all over highest rise, while shipbuilding represents increased expenses THE YOKOHAMA SPECIE BANK, China and Correspondents in Europe, (147), iron and steel (162), gen- more extensive services perform
America, and other parts of the world. eral engineering (166), and chemi-ed, or how far it represents an in-
London Bankara:-The National Pro- vincial and Union Bank of England, cals (174) show the lowest rates crease of "net profit" to the re- Frogs
of increase. The magnitude of taller, the Committee states Ltd
The Guaranty Trust Company of the increase in the textile group The expenses of the three co Gudgeon New York.
Is mainly attributable to the rise operative societies. in 1925 repre- Harrings New York Bankars: The Irving
sented 13 per cent of their Hallbut National Bank.
in the cost of raw material..
sales, as compared with 10 per Labrus cent. in 1919. Those of the de-Lach partmental stores in 1925 rapre-Lobatera
Fish.
the
Barbel
lb. 40
24.
Bitter Squash
Bream
35 20 16
F1
Canton Fresh (A
VE
28
13 16
##
J
32
27
20
12
0
И
Catish
aver-
Codfish Crabs
30
25
Cane Shoots, bunch...
"
32 23 26
18
10 2
(Medium).
88
Dab
23.
16
+ E (9mall)
#BRE
40
Carrots
Dog. Fish
1510
B
Colery, Chinese
22
10
Chillies, Dried
## 1
Fresh Water
80
10
18
Red
.....
H
Yellow
20 20
30
Green
60
25
Curry Stuff, Englab
Garoupa
70
30
Cucumbers
24
18
Garl ...
22
28
Ginger, Young
22
15.
24
18
24.
44
32 21
Lettuce
32
20 26
tion.*
48 13
2.
20
13002
Mandarin. #EN
2%
Mushrooms, Fresh i
29
9
Okroes
25
15
Onions, Bombay
Manager.
25.
10
0
Green
20
Shanghai
26
30
Parsley
Potato, Sweet
Established 1880. Capital (fully paid-up) Yen 100,000,000 Beserve fund ..................... Yen 99,500,000 Head Office:-YOKOHAMA,
Branches and Agencies at: Alexandria,
Batavia, Bombay.
·Buenos Ayres.
Calcutta..
Canton
Changchun. Dairen (Dalny), Fangtien (Mukden).
Hamburg Hankow. Harbin HongKon
Honolulu.
Kal Yaeu. Karachi.
Kobe... Landen. Los Angeles,
Lyons.
Maoils.
Nagasaki,
Newchwang New York Osaka, Poking. Rangoon. Rio de Janeiro, Saigon. San Francisco. Seattle. Semarang Shanghai. Shimonosed. Singapore. Soerabaya. Sydney. Tientaln. Tokyo,
Tainaniu. Tsingtan Vladivostok
(Temporarily bed closed) Interest allowed on Current Accounts Deposits received for fixed periods at rates to be obtained on application
EMORIES
"Nagoja.
The Equitable Trust Company of i Now York.
Interest"allowed on Current Accounts
and Fixed Deposits. Terms on applica THE BANK OF EAST ASIA, LTD.sented 20 per cent. of their sales, Mackerel.
Every description of Banking Bual. |ness transacted..
Loans granted on approved securities.
|HEAD ́OFFICE: HONGKONG.
Special facilities for Home Ex-10, Des Voeux Road Central, Hongkong change.
SBOU J. CHEN,
THE BANK OF CANTON, LTD.
Established 1012.-
Head Office: Hong Kong.
Authorised Captial (ILK, Carrera) ...$11,000,000
Hamachi Fund, and th
£30,000
· BRANCŢIES)-y Canton, Shanghai,. Esukowa":"Bestom; Bangkok, New York and Ban Franckoer
LONDON, BAKTERS --
The' Lloyd's 'Bank Hindled. CORESPONDENTS
fu áll prionipal diise of the World.
-2, #frenigas | varaangs and banking businesa, əl
(overy desciption@ipensartedielas take)
Sale Duponde Demon, (various 'alons): 14'a yaariy",
TARIA - From $5 or $10.00 red
LOOK POONG. SHAN,
Semarang
Authorized Capital...$10,000,000 Paid-up Capital ..................... 5,000,000 Reserve *****
1,200,000 BRANCHES AND AGENCIES: Batavin Melbourne San Francisco Bombay Nagasaki Seattle
New York Osaka Singapore Haighong
Parl
Sourabaya Honolulu Feking
Sydney Robe Penang Taipeh Kowloon
Tientsin Rangcon London Saigon Tokyo Marila
Shanghai
Calcutta Canton
Correspondents la ali principal cities
as compared with 15 per cent. for Monk Flah 1913. Thus, between 1913 and Mullot 1825 the proportion of expenses to Oysters sales increased in both cases by Parrot. Füh shout one-third. This increase is Perch partly due to improved services, Pike especially of delivery, and in the Plaice
case of the departmental stores Pomfret, Black possibly to an extention of advertis- Pomfret,' Whils ing; but the fact that the propor-Frawos tion of total expenses represented Ray
by salaries and wages has remained Rock Fish practically constant at rather gosch. more than 60 per cent. in both Salmon cases suggests that part of the rise Shark expenses is attributable to the in-state
of the world. Dekupa crease of Ealaries-and-wages."S/
Emry description of Braidag and
Bichange businew transacted.” Loans granted on approved securities.
SAFE DEPÓSIT BOXES to lat.
NASA Thief Managers NATPRICE: KANSTONG: PO.ST
Le Chalet Manager.
Shrimps
The present volume is published Shopper by his Majesty's Stationery Office Solen
at 3a6d. Two further volumes, Tench dealing with certain greet export- Turbot
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