1928-06-08 — Page 2

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorised Capital

$50,000,000

Conzed and Pidly. Put up smussioners: $30,000,000 Finearts Punda,

Markog 4ilv=t;.nc

16,000,000

Reserve Číshiling of Kropriaters ........$10,000,000

HEAD OFFICE: HONGKONG.

COURT OF DIRECTORS :-

Compton, Eng.

A

W. H. Bek, Esq.

Chairman:

N. 9. Drowu, Faq Deputy Chairman.

W, 1. Pallenden, Eaq. Hon. Mr. D. D. P. letih. J. A. Plummer, Esq. Hou, Me. C. f). 8. Machir. T, . Well, Tag.

. . Walu, Ees

Chat Masager

Hog, Mr. A. a. Hyves.

BRANCHES --

LONDONTM

AMOT

UANGKOK

LYONK.

BATAVIA BOMBAY

MALACOA

-

HANILA

CALCUTTA

HOUKDEN

CANTON

NAGASAKI

VERPOO

BOLOX DO

DAIREN VOOCHOW

HAIPHONG

MAKBURO

MARKOW

HARDIK

HONGKEW

ILAHO

IPCI

FOLIOBE

BOBE

KUALA LUMPUR

NEW YORK

PEKING

PENANG

RANGOON

RAIGON

ВАХ ГЛАНСІВСО

BHANGHAI

SINGAPURE

HOURABAYA

HUNDEI PATANI TIENTSIN

TOKYO

THINGTAO

YOKOHAMA

Can Arouste opened fu, Imosal Queranny and Fized pinella resolved fat way your or harter periode is Loral Curday and Barking ailarina wist will be quered on application Hong Kong, th June, 1929.

HONG KONG SAVINGS BANK.

The 'Dusinpes of the above Iush & condock ed by the OKORONG AND RUANG11AI BANKING COMIPORATION. Bilion may be obtained an application,

2

SHANGHAI

A. C. SLYNER,

FOR THE HONGKONG BANKING CRPORATION.

loog Koog. 13th September, 1977.

Chief Manager,

NEDERLANDSCHE HANDEL MAATSCHAPPIJ.

INKTUELLANUS TRADING BOCIETY)

BANKERS.

Fatablished 1934,

Hong Kong Wheel Queen's Road Central,

Authorised Capital

Ouilders 150,000,000. 1212,300,000)

Faldilip Capital

:

...............

Mutida 80.000,

Berre Fuad

11

(40.566,370) Builders 10,000,000 148.965,838)

{AMSTERDAM').

Easter Me:-BATAVIA.

BRANCHEN:Badezimit Eulong) Babay.

Calella, Charbon, Jiddah, Djember, tinkarsa'), :-Tho – Hagas'),. Kabe Bread, Babasını, Medas, Padang 'kalongan Pansig. Falernbang Couteauak, Bangoo, Botterdam)

· Bacoarang).

Sibolga (Sumaira), Berbela Boerakaria (Bolo)

and

Waltevreden.')

الستار معتاد

The piños hare enda deposit boxes la let London Bakes:-Bational Provincial Bank Ltd.

Cartonpondenta si „Dver the world Banking bvslzew of every doripilon transacted.

0, STEENOTTI,

Hong Kong, With July, 1917.

Manager.

BANQUE DE L'INDO-CHINE.

行跟商工法中,

BANQUE FRANCO-CHINOISE pour le

Commerce et l'Industrie (Incorporated in France).

Prince's Building, Chater Road, Hong Kong.

NEAD OFFICE: 74, Rae St., Laxare, Paris. Capital fully paid up....Fr50,000,000 Spectal working capital..Fra.60,000,000 Reserves

¡¡Fr».22,310,009

BRANCHES:

Paria, Lyons, Marseilles, Salzon, Haiphong, Hanot, Tourane, Quinion, Hua, Thánh hoa, Vinh, Pnom Penh.

Peking, Shanghai, Tientsin, Hong Kong.

BANKERS:

L

THE CHINA MAIL,

TRADE PROSPECTS.

FURTHER FACTORS IN EFFICIENCY.

COMMITTEE'S SURVEY.

........

COMMERCE

AND

FINANCE.

FRIDAY, JUNE 8, 1928,

tributable to the great rian In the Among the lowest percentages and steel, shipbuilding, and gon- cost of raw material, of which the were coke (about 9) 'and basic pig cral engineering trades the iR- great bulk is imported. The ra|Iron (10), the predominant reason éroase has been somewhat IDAN turns of undertakings in the cot-in these cases being the high pro-| (between 80 and 85 per cent.), ton trade show that on the aver-portion of dost due to raw while the textile, and clothing age nearly three-quarters of the materials. Similarly the low por-groups show increases between 00 cost of production both in spin-centage (about 16) represented by and 115 por cont, and the choml ning and in weaving is represent- labour cost in cotton spinning cal group (Including dyce, explo ed by the cost of materiale, and and weaving is mainly attributable sives, and nonp) comes highest that on the average the cost of to the high proportion of the with an increase of 129 per cont, - materials in 1925 was 296, as com-spinners and weavers' cost due to The Committee 'mention some rea- It is evident that the results of parod with 100 in 1913. In other raw cotton and to yarn respective sons for the differences in those improved mozna of production, cases a great part of the increase y; and in steel production, where percentages, such as the diapro- changes of business organisation, is attributed to a decline in pro-wages represent roughly 10 to 15, portionate rise in wages for un- technical processes, plant. and

duction and a consequent Increase por cent, of total cost a large pro- skilled labour experienced in full machinery, have been offset by in the burden of overhead charges portion of the balance is account, force by the chemical group, the other factors such as the reduc-:

ed for by raw materials. In the operation of the Trade Boards Act tion of working hours and the de- per unit of output.

Turning to an analysis of the return for heavy chemicals, on the in the clothing group, and an in- pressed stata of industry, It is pointed out in this connection, that gures relating to wages costs, the other hand, in which the percent-crease in the amount of labour ex- Committee note the widely differ age of labour costa about 20, pended per unit of production, The Departmental Committee the number of employed persons ent percentages of total cost of overhead charges (which include, owing to change of fashion, in the appointed in 1924, under the chair on which the "per capita" output production which is represented by maintenance) predominate, the boot and shoe trades. In the cot. FRANCE:-Societe Generale, Banque manship of Sir Arthur Balfour, to is calculated is the total number wages of labour employed, direct item "other expenses" amounting ton trade the governing factor has

Nationale de Creilit, Banque de inquire into the conditions and of "equivalent full-time workers." Paris et des Pays Bas.

prospects of British iddustry and Az 1924 was a year of depression or indirectly, on production into half the total cost of produc- probably been the reduction of LONDON:-idland Bank Ltd.

the same industrial "group. The tion. Between these extremes, hours of labour for which no com- commerce, with special reference compared with 1907, it is probable figures, it is stated, Indicata that boot and shoe making (27) and ponsation could be found by speed- to the export trade, have issued that if the output per head had in the cost accounts of the great engineering (84) are examples of ing up machinery. But it is note- fourth report, in which they deal been calculated for both years on

a whole the industrias forming an intermediate worthy that in all the great groups, exporting trades.as with "Further Factors in Indus- the basis of "equivalent full-time average proportion borne to total group as regards proportion of with the possible exceptions of Every description of Banking and trial and Commercial Efficiency."

workers" the results would have cost by the wages of labour em- wages cost.

iron and steel, shipbuilding, and Exchange Business Transacted. Cor-

Committee expresa con- been somewhat different. It has

The Committee next inquire into general engineering, the rate of in- respondents throughout the world.

fidence that the book, like its pre- to be added that if mining were ployed, directly or indirectly, on

In the neighbour-the movement of labour coats as crease of the labour cost per unit production is decessors, which were concerned excluded and the comparison con-hood of 88 to 40 per cent. This between 1913 and 1925, both ab- of product shown by the returns with a "Survey of Overseas Mar-fined to manufacturing industry average does not include the ele-solutely and in relation

to the exceeded the rise during the game keta," a "Survey of Industrial Reproper a considerably greater rate ment of wages contained in other movement of total cost. They find period in the rates of money wages lations," and "Factors in Indus-of Increase would be shown.

items of cost; such as materials. that on the average the wages cost for a full week's work. THE CHARTERED BANK OF trial and Commercial Efficiency," Compared with 1907, the INDIA, AUSTRALIA & CHINA. (will not only be of permanent value mechanical power at the service of as a work of reference, but will industry in 1924, showed a much Incorporated by Royal Charter, 1853. facilitate the examination of the greater, rate of increase than the problema at present confronting "per capita" production. Figurea .£3,000,000 British Industry.

are quoted to show that the power .£4,000,000 The material contained in the capacity available rose from less volume has been specially prepar than eight million to something .£3,000,000

ed for the purpose, and represents more than 13 million horse la collection of Information which power. It le, of course, not to be is not otherwise readily available, expected, the committee note, that The report contains 360 pages and productivity will increase in direct is published by H.M. Stationery proportion to the increase of Office (price 38. 6d. net).

mechanical power, but the wide

NEW YORK-American Exchange Irving Trust Co., Banca Commer

clalo Italiana. BAN FRANCISCO;-Bank of Italy.

A ROLLIN,

Hong Kong, 18th April, 1928.

Manager.

HEAD OFFICE: LONDON, Paid-up Capital Rokervo Pund

| Reserve Liability of Proprie-

tora

Agencies and Bratches:

ALOE STAR

(halay Blade)

ANDITHAR

BANGKOK BATAVIA

BOMBAY CALCUTTA CANTON CAWNPORE JEDO COLOMBO

KUCHING

MADRAS

MANILA

MEDAN

KEW YORK

PERING

TENAND PESHAWAR JIANGDON SAICON HEMAHANG HEREMUAN

DELHI

RAITHONG

BHAROBAI

BAMBURG

SINGAPORE

HANKOW

KOURADAYA

HARBIN (N. Manchuriai

TAFFING

(P.M.)

ILOILO

KALACHI

ELANO

ZUBE

KUALA KANGBAR

{T.M.B.)

IPOH

TAVOY

TIENTSIN

TORSD

TONDEAU (Dhuket)

The

Wages And Raw Materials. of production in the Instances ex- for any important Industry in 1925 val by about 90 per cent. In the The highest percentage found amined has increased in the inter-

was that for. coal mining (70.7). group comprising the coal, iron

(To de Continued.)

HONG KONG MARKET PRODUCE.

Corned Ronst Breast

The present volume, together discrepancy between the rates of with two others, dealing with the increase of horse-power and pro- textile industries and the metal ductivity per head of the working trades, will complete the sur-population contrasts unfavourably, Beet Siriom vey of Industries undertaken by with corresponding figures for the the Committee. The reparts are United States, where between 1904: not concerned with recommenda- and 1925 the rates of increase of tions but aim at classifying and net industrial production and analysing facts and tendencies. horse-power per head of employees Following their usual practice, the were almost identical at about 64 Committee have written an Intro-per cent. Such differences sug- Foreign Exchange and General Bank-duction, which draws attention to gest the question whether in Great ing business transacted.

Current Accounts opened and Fixed some of the chief considerations Britain full advantage had been Bullock's Braine Deposits received for 1 year or shorter which arise from a study of the taken of the increased power avail- periods at rates which will be quoted three volumas.

able. on application,

'A.. II. FERGUSON,

Hong Kong, 3rd April, 128,

TRINGTAO

YOKOHAMA

{Philippine Islanda]

ZAMBOANGA

Manager.

THE BANK OF TAIWAN, LTD. (TAIWAN GINKO).

HEAD OFFICE:-Taipeh, Formosa

Incorporated by Special Imperial Charter, 1899,

Osaka.

Soup

Steak

Steak Sirloin

#

Sausages

الله

APPROXIMATE RETAIL PRICES.

Egge, Hen (cooking)..

***

Butcher Meat.

Poultry.

June 1, June, June,

1928. 1918 1914.

Cte. Ctr. Cia.

Ib.

28 24 1

June 1, June, Jane,

1928. 1918. 1914 Cta. Cta. Ct.

Chicken

Prime Cut

28 23 13

1h 55 80

#

23 12

Capons, Small '

46

M

23

21 22

Capons, Large

•

#+

55

28 28

Duck

24

20 18

J

45 22

*

Doves

28

*0 - 18

蝓

cach

22

40 90

.23 24 **

85

por duz. 32

18

Eggs, Hen (fresh)

25

40 24 20

Fowls, Canton

70

36

par met 15

10 12

Fowls, Hainan

40 D

36. 24

•

Tongue, fresh. Tongue, comed Head..

each 65

50

60

H

45 24

.60

each 56 80

» $1.20

--$1.20

海口齲

30 28

Heart

Ib. 24

18 14

Hump, Salt .Feet....

24 20 18

火海线

"

60

61

oach

each 81012

*

Hidney

Fheasant

pair

15

10

· 12

H

Tall

28 20 **

Quall

each

か

Liver

#

lb. 24 18

14

Л

Tripe

#7

H

H

This points out that while cot- An important chapter of the 'res ton, wool, and artificial silk, iron, port is concerned with the costs of and steel, engineering, electrical industrial production and distribu- manufacturing, shipping, and coal tion. "It is a commonplace of account for a large part of British economista," the committee state, export trade, It does not necessari-"that under a regime of free com- ly follow that the recent course of petition prices tend to a common development in three industries has level. As regards cost of produc- been fully representative of the tion, however, there is no such Calves' Head & Fest, 6 set $1.20 $1.00 $1.00- trend of British industry as a tendency, On the contrary, costs Matton Chop

Leg..

Sharder

#J

A

Saddle

You 45,000,000/tries which have beon the great competing undertakings in respect Pig's Chitling

#

Brains Foot

[whole.. "On the contrary," the even within the

AAme industry Committee observe, "it is 'prima tend to an infinite variety, corrES- facie' not unlikely that the indus-ponding to differences among the Central Bank in Formosa. Bank-Notes issued Average amount ..

staple expert trades of the past of every kind of industrial advan- may in some cases have failed to tage--geographical situation, lay- BRANCHES AND AGENCIES: JAPAN:--Tokyo, Yokohama, Hobe, keep step with the recent growth out of premises, efficiency of equip-

Fry and progress of some of the new-ment, organisation and personnel. FORMOSA: Giran, Kagi, Karenko,er though smaller trades. Among Moreover, these differences, so far

Keelung, Makong, Nanto, Shin- chiku, Taichu, Tainan, Takso, the great exporting industries are from being removed by competi included certain branches of ex-tion, may even tend to become ac Tamui, Toen, Heito, Taite. **Fos. 88,400,000.00| CHINA:—Shanghai, Hankow, Amoy, port which, thanks to the earlier centuated, inasmuch aa the less

Foochow, Ewatow, Canton. Reserve Fund'......Fr. 89,884,510.10

industrial dovolopment of this cfficient or well-placed undertak- Pork OTHERS: Hong Kong, Singapore, BRANCHES:

Boerabaya, Semarang, Batavia, country, enjoyed at one time some-inge, which naturally lose trade to Bombay, Calcatta, London, New thing approaching a monopoly in their better-equipped competitors, York, Dairen.

overseas markets-a conditionare forced to spread their overhead

HEAD OFFICE:

96, Boulevard Haussman, Paria.

-3

Subscribed Capital .. Fr. 72,000,000.00 Paid-Up Capital

Battambang Hong Kong Saigon

Bangkok Hanot

Cantho Mengtze

Quinhon

Shanghai Singapore

Tientsin

Vinh

Canton Nam Dinh

Dibouti Noumen

Peking

Fert-Bayard Papeete Halphong Hankow

Pnom Penh Yunnanfu

Pondicherry BANKERS:

IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Ba; Credit Industriel et Commercial; Boclete Generale.

IN LONDON: The National Pro- vincial & Union Bank of England, Ltd.; Comptoir National d'Escompte Le Paris: Credit Lyonnais,

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

to

Interest allowed on Current Accounts and Fixed Deposits according arrangementa,

Every description of Banking and -Exchange Business transacted.

Safe Deposit Boxes to let.

-- CHL. LEM,

Manager.

Hong Kong, 1st May, 1928.

THE YOKOHAMA SPECIE BANK,

Reserve fund

LIMITED.

Established 1880, Capital (fully paid-up) Yen 100,000,000 Yen 99,500,000 Head OfficeYOKOHAMA,

Branches and Agencies at:

Newchwang. New York Osaka.

Alexandria:

Batavis.

Bombay.

Buenos AyrOS.

Calcutta.

Canton,

Changchun.

Dairen (Dainy). Fengtien (Mukden).

Hamburg, Hankow. Harbin

Haar Kon Honolulu,

Kai Yukl

·Karachi. ·

Poking.

Rangoon.

LONDON BANKTES: The London County Westminster and Parr's Bank.

"Eušiems allowed in Current Accounts, and Plzad

Post-War Rise in Costs.

Deposit rated which will be geoted on applies British exports showed a lower of investigation, the report states

en. Deposite in Yen cas be accepted.

J. IHARA,

HONG KONG DRANCH:

Manager.

3, Des Voeux Road Central. Hong Kong, 22nd September, 1927.

THE BANK OF CHINA."

行銀國中

rate of progress than some of the newest industries that

are grow- ing up alongside of them."

Output And Power.

M

H

that comparing the total costs in Veal 1018 and 1924 or 1925, a very wide range of difference is found, both as between different Indus- The Committee first discuss in-tries and within the same indus-" dustrial output and power on the try. "Naturally the returns from basis of a memorandum in which individual firms show a greater Barbel some of the preliminary results of range of divergence from the pre-Bream

Baker to th

4.

46 20

40

++

44 24

#

48

"

30

Per got 3

<£*£569EBEQERIRLARÈÈTEGOBI÷KQB=**RAKOBLBASEB

lb. 15 15

883 | | 122822881869 ~*** *8|1

Gecko

Pigeons, Canton

Holhow

Turkeys, Cock

Turkeys, Hen

Snipe

Partridges

Fruits.

Almonds.

Apples (California) ....&3#*

Bananas (bride's)

Carambola

Copoamuta

18

Lemons, China

1199ZRIR

RANNA 28 | |

20

Lemons (America)

金山查 exch 荔枝干 新會甜機

Fears (Canton).... Pesuats

Persimmons, Large

Plantala

Pamelo, Blam

Walnuts

18978918829988881|| } 1.

888882 | | 19 |*|

杏,

1b.

70 35

24

24

無山香蕉

8 •

H

Beach 14

10

1b. 10 25 30

А

25

20

ま

.28

19

18

14

10

H

*

6

## each 18

12

lb. 16

Vegetables, &c.

*****937-11 199*8.11

83 198

P

28

Hoad

15 20

"

"

#

Heart

ench 15

10

가

Kidneys

-15

8

#

H

Liver

b.

48 80

24

Lichtes, Dried

Chop

猪排骨

84

28+

Leg

猪牌

34

Oranges (Cantor} Oranges

#1

Loin

韜後菌

88

70

11

which in recent years has passed charges over a reduced output, Sheep's Head #Fest. away and given place to increas thus further enhancing their costs ing foreign competition. It would and weakening their competitive The Bank haa _Correspondente in the Cotamorcial Centres in the European Opellant, Rassis, Mtherefore not be surprising if cer-position." okurik, Talagtas, Japan, Indo-Chins, Biam, India tain of the trades which for many Philippine Ihanda, fara, Alzica, U.8.A., Austen!iu.

years have furnished the bulk of

*

Fat or Lard

24

#per sat 90

70

Heart

each

13

7

1

Kidasys

10

H

Liver ...

48

+

Sucking Pigs, to order. After reference to the difficulty Buet, Beef ..

lb.

25 25

Grapea

30

18

Mutton

48

D

30

N

K

Sausages

$2

No.

28

Fish.

b.

3B

10 24

腐

마

WE

P

28 181 16

.30 16 27

22

12

0

80 20

25

24 23

26

20

18

2

(Medium)

大椰漿花 cach

85

23

16

(Small)

中國花:

ME

38 20

Carrote

b

Celery, Chinese

20:10

Chillies, Dried

*****

10

## *...

85 25

18

80

$1

15 10

Green

***

12

8

25

Curry Stuff, English

10

8

20

Cucumbers

Garlic

18.

23

Ginger, Young

18.

Old

22

18

24

34 20-26.

(Specially Authored by Presidential

Mandate of the Republic of China on the 22nd of November, 1817).

HEAD OFFICE: PEKING.

HONG KONG BRANCH:

4. Queen's Road Central.

the Census of Production of 1924 war level than those representing Canton Fresk (DA

are summarised. The persons em-large groups of undertakings in Water Fiab. 1 ployed in 1924 in the mining and which the "extreme cases are Carp Authorised Capital .....$60,000,000.00 manufacturing industries for which "diluted" by the process of aver-Catfish 18.278,600.00 5gures are given in the memoran. aging. If the mean 50 entrics of Codish Paid-up Capital Reserve Fund

9.620,425.24 dum numbered about 5,500,000 total costs for 1925, be arranged, Crabs

compared with about 4,700,000 in under five great groups of export Cattle Fish the same industries In 1907, an in-trades, and these groups be weight-Dah crease of 17 por cont. in 17 years. [ed roughly according to their re-Dace The money value of the total "net lative magnitude. the resulting Dog Fish Branches and Sub-branches all over output" increased in the same average cost level is round Eels, Conger China and Correspondents in Europe, period by 181 per cent. and that above 184, the corresponding America, and other parts of the world.of the average net output per head figure for 1913 being denoted vincial and Union Bank of England, by 96 per cent. Allowing for the by 100.We may without great Frogs

change in the value of money in rlek of error, infer that, the aver-Garoupa -The Guaranty Trust Company of the interval the Committee find age rise of industrial' costs in the Gadgeon that between, 1907 and 1924 the in- 'great exporting trades between Harrings New York

New York Hankere: The Irving crate the average volume, as 1913 and 1925 has been in the Halibut National Bank.

The Equitable Trust Company of distinct for money value, of net New York NA

output was relatively slight. Interest allowed on Current Accounta

London Bankora:-The National Pro.

Ltd

and Fixed Deposite Terms on applica-

tion

44

+4

Fresh Water

Yellow

neighbourhood of 80 to 90 per Labras cent. MARTA

Loach "This indication of the average Lobsters increase of total costs is of con- Mackerel siderable value in giving a stand Monk Fish

THE BANK OF EAST ASIA, LTD. ard or 'norm", by which to measure Mallet

peste ade

Every description of Banking Busi nina transacted,,

Loans granted on appaved securitiene Special facilities for.. Home Ex-

SHOU'J. CHEN,

Manager

Rio de Janeiro..change: Saigon.. San Francisc Seattle. Semarang. Shanghal

Shimono all.

проге: Sourabaya. Sydney. ¿Tieptain.

Tokyo.

Kobe.

London

Tsinnufu.

Los Angeles,

Taingiau

Lyons

Vladivostok,

Manila

(Temporaril closed)

Fuensali. Nagoya

Interest allowed on Current Accounta Depaalta received for fixed periodi mr rates to be obtained on appllentiori

MAID MOBI,

Hong Kong, 18th March, Tea

Reserve

HEAD OFFICE; HONGEONG, 10. Des Voeux Road Central, Hongkong Authorized Capital ....$10,000,000 Paid-up Capital;

· 5,000,000 200,000 BRANCHES AND AGENCIES LTD.--Batavin Melbourne San Francisco Bombay Nagasaki 21 SeattlePMEN Calcutta [New Yorky - Seinurangz Canton

Banksygen, Singapore Yourabaya Sydney

THE BANK OF CANTON, LTD.

Established 10127 Head Oflens Hong Kong.

Ausherinod› Capital (11.2. Ourenset) ...911,000,000

A BRANCHES A DEA Gaming Chagasti? Hankuw,di&wentowy: Dinglik,, Xer-Lock and Ben Franelion:

LONDON, HANEDERLA

the eccentricities of a particular Oysters Cost variations. It does not, how- Parrot ever, carry us very, far, without Perch an exploration of the differences p between different industries.

Pinics Among the examples analysed the total costs as compared with 1918 | (= 100) - ranged from 120 (heavy oil engine), and 188. (blasting ex- plosives) at the ons end of the scale up to 276 (Egyptian cotton spinning) at the other of the groups, of trades the textile, group #Manila' 28 Shanghaf

with an average of 225 shows much Correspondents, in all principal cities the highest rise, while of the world

Robe

Kowloon

To rop::

Penan Taipeh Kangcon -Tientsin

Tokyo

in all peluca, can the order description of Banking and Ing., (147),, irons and steel (162),

Lancelotion inquieted formatter words Exchange, trasiness, transacted, Loans generalen

„Leigh) ausbarer "all" banking: belamu of-

Bain Deposts House: (Turicon" a[800) at yourly granted on approved securities.

rental, of, from,, MAS 10 PRESENTERET BY SAFE DEPOSIT BOXES tá let,

LOOK POONG BELANIKA KOZAKUPAKAN TONG, POULE

Net, Manager gala Calet Manager,

81st March, 1, 27.-

Hong Kong, 10th:

Hong Kon

尾肚:水

BIG DIE

SHANGREN CEROWE DO WE DESTE WERE NO S

PRE VES MAC FEL MET DE SE BE SKAR SE ARE ÆRESTERNÍ O

:: རྟ ཝཱ, སྐུ ུ སྐུ ཝཱ ཎཱུ་

82 28 16

Artichokes

Beans, Sprout

..."

Long Beet Boot

Bitter Squash

Bemjáls, Green

Red

Cabbage, Chinese......

(Shanghai)

Cane Shoots; bunch

Cauliflower (Large)

15 10

107:10

ering (166), Ward

48 28

chemicals,

lowest

rates of Increaser

802218

"The excessive" increase

the textile group

ecats

851 18

"

Lettuce

Red

竹菜角 ·压染來等花花花夠的手術料·瓜永

IN

Horseradish, Shanghai.

Indian Corn

Water Chestnuta

shrooms, Fresh

桂林路藥

5

-10

8

12

B 24

8

18

12

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