1928-08-30 — Page 2

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorland Oupital

Teread sod Fully' Fald-up sining $55,000,000 Meserve Funds 1--

Bellag mamainam# 6,000,000 Elise

(4,085,000

Berry Kiability of Propristers -890,600,400

HEAD OFF10B; VOMOKORD

COURT OF DIRECTORS —

A. E. Compion. Reg.

W. E. Ball, Koq... ·

Chairman

N. 5. Brown, Bag, Deputy Chairman,

W. L, Patiendas, Mog. Hon. Mr. B. D. F7. Bello Ji A. Flaminat,, Eng. Han, Mr. 0. G. S. Maskin, T, G. Waali, Esq.

-AMOY

BANGEDE

BATAVIA

BOMBAY

II. P. Wilia, Esq. Orial Manage

Hon. Mr. A. Q. Hyaw

CALCUTTA

CANTON

CHEFOO

COLOMBO

DAREY

FOODKOW

ΣΙΑΙΡΗΟΝΟ

BAMBURG

BANKOW

RABBIN

HONOKEW

ILOILO

SPOI

JOHORE

KOBE

UHLANCHES-

LONDON LYOMB

MANILA

KUALA LUMPUR

MOUEDEN

NADABAXI NEW YORK,

TEKING

PENANG

DANOOON BADOK

B&N FRANCISCO

SHANGHAI

ВІНОЛГОЛЯ

HOUBABATA

BUNOEI PATANI TIENTSIN

TOXVO

ТУЛКОТАО

YOKOHAMA

Curral counte opsoed in Lossi Carrenty val Fixed Deposite nodrad for on or shares periods in Lol Cormory and reall

arm which with be quoad on applied. Hong Kong, June, 1938,

HONG KONG SAVINGS BANK.

The Business of the shore Bank is sonduct. od by the HONGKONG AND SHANGH RANKING CORPORATION, tulee obtained on appilation.

FOR THE

HONGKOND

BANKING CORPORATION.

Hong Kong, 18th September, 1971.

行銀商工法中

BANQUE FRANCO CHINOISE

pour le

Commerce et l'Industria (Incorporated in France).

Prince's Building, Chater Road,

Herr Kon.

HEAD OFFICE: 74, Bus 8. Lazare, Parlo. Capital fally paid up. Fr50,000,000 Epecial working capital..Exa50,000,000 Reserves

Fr.22,810,000

BRANCHES: Parla, Lyons, Marseilles, Selgoz Haiphone. Hunol, Tourne, Quinhon Huế Thành Hoa Vinh, Prom Penh.

Peking, Shanghai, Tientsin, Hong

Kong.

BANKERS:

T

IMPORTS.

AT THE COST OF PRODUCTION.

IRON AND STEEL.

THE CHINA MAIL,

COMMERCE

[By Benjamin Talbot, President of the National Federation of Iron & Steel Manufacturera.]

It will be the object of this article FRANCE:-Boclete Generale, Banqueto answer some of the criticisms of

Nationale de Credit, Banque "de

the fron and steel industry, and to Paris et des Pays Bas.

give reasons why, in my opinion, all LONDON:-Midland Bank Ltd. NEW YORK:-American Exchange suggestions for improving the in-

Irving Trust Co., Banca Commer

dustry are futile unless they are ciale Italiana.

based upon a reversion of the policy which has hitherto prevailed of per- mitting the free importation of Iron and steel from other countries re- gardless of the conditions under which it has been made.

SAN FRANCISCO:-Bank of Italy.

Every description of Banking and Exchange Business Transacted. Cor respondents throughout the world.

L. BEINIS,

Manager. Hong Kong, 3rd August, 1928

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1863.

Agencies and Branches: ALOS STAR

Bay State)

AMBIZBAN

DATAVIA

KUORINO

MADRAS

MANILA HEDAN NEW YORK PEKING PENANG YESHA WAN RANGOON BAIGON BEARING

One of the chief criticisms is to the effect that our plant is not as efficient as that of America or the Continent.

SAND

FINANCE:

PORT CHARGES.

REDUCED WHEAT-HANDLING

COSTS.

IN AUSTRALIA. '

The level of port. dues In Aus-!| excess of pre-war; Germany In-tralia has long been a subject of creased both her capacity and efft-cemment in shipping circles, where ciency during the Inflation period, it is considered to have an import- and therefore also secured negligible capital charges.

Jant bearing on 'freight rates. Nowa has now been received that the NO GUARANTEE. That I am fully aware of the wheat handling charges paid by economies that can be effected by shippers of wheat at the ports of modern installation is clear from Geraldton, Albany, and Esperance my report to the Coal Conservation have lately bean reduced by the Committee during the war, but I

Government Railways of Western repent what I have said elsewhere that

Australia by 4d. per ton, states time even if the requisita millions of "The Times." At the same money were available to `build the the berthing dues payable by vessels most efficient iron and steel works have been increased by the same which modern knowledge and ex-¦amount on every ton of wheat load- perience could devise, I would noted at the jettles, and, accordingly, a undertake the responsibility of steamer which was recently direct- bulding the works in this countryed to load a cargo of 10,600 tons of under present conditions if I wheat at Albany, was charged an had to guarantee the earning of additional sum of nearly $178 In sufficient profits to cover depre- dues.

ciation and obsolescence on its Statistics have lately been com- full cost, and to pay a fair re-piled of the cost of loading with turn on the capital invested. Igeneral cargo six steamers at Aus. In 1919 Great Britain produced Even the most efficient plant that tralian ports last year, and the port more fron and steel than in any could be devised to manufacture the charges, stevedoring and commis previous year.

As a result of the steel products we now so largely im-'alon were found to represent more HEAD OFFICE: LONDON.

£3,000,000 war our capacity was expanded and port could not guarantee an ad- than 27 per cent. of the groas Paid-up Capital Reserve Fund

‚£4,000,000 | Improved until shortly after the equate Onancial return. under pre-freights. The loading costs did not Reserva Liability of Propris

war it was probably more efficient sent conditions, which permit include the "running expensee” · of ,£8,000,000 tors

than, at any time within recent British products to be undersold by the ships while in port, such as years. Since, however, the exten-imported material thrown on this crews' wages. The direct loading sion and improvement was carried market at cost or less than cost of expenses amounted in each case to out under the hurried stress of war production in the exporting country, several thousands of pounds. conditions and to meet war omor especially when the entire real Similar figures were taken out in gencies. It is not surprising that wages of those countries are 50 the case of vessels loading at South there is lack of balance.

to 70 per cent. of ours,

Afrkan poris, and the correspond- PROFITS SMALL.

jing costs were found, to amount to Some of our extreme Fre Trade 16.5 per cent of the freights, while critics state that we should

In the cases of vessels loading In these large combined works which India the proportion was 9.25 per what has been achieved may be they say are so much more efficient cent. The general cargo loaded in regarded as a remarkable suc-

than ours, and also state that if we Australia did not include refrigerat ceas." While, however, indivi-

obtain "safeguarding" we shoulding produce involving special handl- work have similar ma- become more inefficient.

Considering Since the distanse from Aus- Foreign Exchange and General Bank on the Continent, it is true that all these large effelent plants trallan trade would have represent-

are in highly protected countries,

still larger percentage if ing business transacted.

average practice here is not it would appear that their fears of calculated on the lower freights for Current Accounts opened and Fixed Fold-Up. Ospital Builds 3000,00 Deposits received for 1 year or shorter equal to the average in America or increased inefficiency under safe the shorter distances.

periods at rates which will be quoted on the Continent.

guarding are Inconsistent. on application.

A. H. FERGUSON,

Manager. Hong Kong, 3rd April, 1928.

NEDERLANDSCHE HANDEL

But even Dr. Niebuhr, writing in 1921 ("Die Reorganisation der englischen Industrie"), In spite of some strictures, admitted "that

may

b

• BELANOMAL

BOMBAY

A. C. HYNES,

Chisi Manager.

DALOUTTA DANTON CAWNPORS CEBD COLONDO

DELU

HAIPHONG

HAMBURG

LANKOW

BEREMBAN ЗНАКОМИ SINGAPURE BDURABAYA

HARBIN (N. Manchuria)

TAIPING

BONG HONO

(P.,8.)

ILOILO

TAVOY

ДРОВ

TIENTSIN

KISTACHI

TOKYO

TONOXAH (Basket) TSINGTAO

KUALA KANGSAR

KUALA LUMPU

Parak (M.B.)

(Philippine ande)

idual

chinery,

MAATSCHAPPIJ.

(NETHERLANDS TRADING SOCIETY)

DANKKIS,

Establebed 1831.

Hong Kong Offosi--ll Queen's Boad Centr

Authorisal Capital, minion

Beserta Fund

Butler 180,500,000

(212,500,000} (2,508,670.) Guillara 40,000,000-

(AHOTENDAM“). Barters Head Oflow:--BATAVIA, ORANUKES 1-Dandjerman Bandosug') Bombay,

Hand

Caioaits, Chariben, da, Dis Diskjakarta: The Ilague'), Hote-Radi, Makassse, Medan, Padang Falembang Pekalonga

Foatianal, Basgoon, Botterdam. "Semarang's

Sibolga Shangbal,

Boarabela, Soorakaria (Bola). Tagal, Tjitajaj and. Wailerøden."]

Sumatra, Hingapore,

"There aloes have sala dagoală"boxes to fal

London Baskare-National Provincial Bank CAL

Dorre poule all over the world

Danking bulan of every

description transacted.

O. STEENSTILA,

Hong Kong. August, 199

Managa.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

90, Boulevard Haussman, Paris,

Subscribed Capital.. Fra. 72,000,000.00

KLANG

КОЛЕ

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

Incorporated by Special Imperial Charter, 1899,

the

**

in

America or

WAR PROFITS. Writing of the profits In the early war years, Mr. Stewart, in his pamphlet on iron and steel prices in the United States during the war, The prices were high enough not

saya:

have

ed a

►

According to the latest official

No amount of financial recon- struction could, under present con- ditions, enable profits to be carned IMPROVED SWEDISH EXPORTS. sufficient to finance the necessary improvements if our industry is to keep pace with developments in trade statistics, Swedish exports HEAD OFFICE:--Taipah, Formosa, merely to maintain production, but render possible the attraction of in comparison with the previous

to persuade producers to increase their productive capacity in spite new capital for that purpose, since, month, by 999,000 tons to a total of as I have said, under the system of 1,292,000 tons, while imports de- of the high costs of con-

free imports profitable operation creased by 2,000 tons, to 720,000. struction and the knowledge Central Bank in Formoss.

The total exports during the first isqued

that the war demand for steel could cannot be secured. Bank-Notes

The Balfour Report stated that six months of the year amounted to Average amount Yen'45,000,000 not long continue. Out of the the ability of the British iron 5,318,000 tons against 7,888,000 tons profits yielded at these prices the and steel industry to retain its place for the same period of 1927. BRANCHES AND AGENCIES:

Industry thus provided for a rapid

as one of the leading iron and steel Sweden's trade balance for the first JAPAN:-Tokyo, Yokohama, Kobe,

rate of depreciation and obsolea industries of the world will be con-half of this year shows an estimat- FORMOSA:-Gtran, Kagl, Karenko, cence and still show enormous gains: ditioned by many factors, but per-ed excess of imports over exports In France new works were built haps above all by its power to enlist by approximately 200 million kroner Koelung, Makong, Naato, Shin- chliku, Taichu,

Tainan, Takao, to replace those destroyed during men of inventive genius as well as against only 50 millions in 1927. Tamoul Toon, Halto, Taito.

other countries, nor would they during the month of June Increased, į

i

Paid-Up Capital ....Fra, 68,400,000.00 | CHINA:-Shanghai, Hankow, Amoy, the war out of reparations money men of outstanding: capacity as This is chiefly due to the prolonged | Reserve Funds .....Frs.102,000,000.00

Bangkok

BRANCHES:

Quinhon Hanoi Battambang Hong Kong Salgon

Shanghai Canton Nam-Diah Singapore Difboati

Catho Men

tea

Noumea

Tientsin

Fort Bayard Papecte

Halphong

Poking ·

Тонгале Vinh

Bankow

Fnom Penh Yunnafu

Pondicherry BANKERS:

Foochew, Swatow, Canton.

at low capital costs to the Industry, OTHERS:-Hong Kong, Singapore, while Belgium practically rebuilt-

Boorabaya, Semarang, Batavia, Bombay, Calcutta, London, New her works from the same source, York, Dairen.

}

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

and now has a capacity both for pig iron and steel 50 per cent. in

The Bank has Correryondenin in the Comen reial Quakes in the Europa Conilment, Ramla, Man skusio, Inlogies, Japan, Inde Chias, Biam, India, Phillypios Telende, Java, Adrion USA., Abstralia.

Intervet allowed on Curranscounts, and Fized).......

IN FRANCE Comptoirs National Depot at rise which will be quoted on applic d'Escompte de Paris; Credit Lyonnaison Deposits in an oun be accepted. Banque de Parle et des -Pays-Bas,

J. IHARA,

Manager. Credit Industziel et Commercial; Sociste HONG KONG BRANCH: Generals.

B, Des Voeux Road Contral. · · Hong Kong, 22nd September, 1927.

EN. LONDON: The National Pro vincial & Union Bank of England, Ltd; Comptoir National d'Escompte de Fazin: Gredit Lyozoaia.

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

THE BANK OF CHINA. 行銀國中

(Specially Authorised by Presidential Mandats of the Republic of China on the 2nd of November, 1917).

Interest allowed on Current Accounts and Fixed Deposits according to Authorised Capital arrangements.

Paid-up Capital

Every description of Banking and Reserva Fund Exchange Business transacted.

Bafe Deposit Boxes to let

CHL LEM.

." Manager.

Hong Kong, 28th August, 1928.

HEAD OFFICE: YEKING,

HONG KONG BRANOM;

4 Queen's Road Central,

SUMMER RHEUMATISM.

Although it is often aggravated by cold, rheumatism fe in the blood and therefore returns with every change of weather, even in sum- mer.

Building up the blood is the best remedy for rheumatism as the en- Friched blood' is able to overcome or throw off the polsons of the dis- case. This is why Dr. Williams' Pink Pills, the world renowned Blood Tonic, have been so eminent-

organisers."

MR. CHARLES' SCHWAB.

strike at the iron ore mines, which reduced the Swedish export of iron ore to a fraction of the normal I know many of the men. who

The quantity.

total sales of are responsible for the conduct of Swedish timber about the middle of the British rop and steel in- dustry, and I know many manawhile the sale of wood palp, owing July amounted to 675,000 standards, gers, chemists, engineers, and to the labour conflict earlier in the others. I have worked in year, amounted to. America, and have kept in touch kilos compared to 556.1 million with works practice in that coun-klos in 1927.

try, and I say without any hesita tion that in technical efficiency our men take second place to ...?

482.8 million!

They are enabled to do this be

none. All the great inventions our competitors do not hesitate to in the past those of Darby, sell à proportion of their output | Neilson, Bessemer, Slemena, below actual direct costs of pro- Thomas, Hadfield, and others duction. It must also be remem- have been of British origin, and bered that in the production of the we still lead the way in technical semi-finished products they obtain efficiency

credita from the bye-products of This was admitted by Mr. Charles coke manufacture and surplus gasen $40,000,000.00 ly successful in cases of rheuma- Schwab, an expert, who has been from coke-making and blast 18.278,800.00 tism, even in its worst forms. For called the father of the United furnaces, which leaves them a profit

9,029,425.24 Example:

States Steel Corporation, at the re- when these credits are taken into "My trouble was pronounced cent dinner of the Iron and Steel consideration. rheumatism," says Mrs. M. E. Clinton, of No. 70 George Street has not been a great process in iran Institute, where, he said: "There

FURTHER DECLINE: Roxbury; Boston, Mass., and was Branches and Bub-branches all over said to be caused by an excess of and steel that has marked America's China and Correspondents in Europe, acid. My blood was poor, and I or any other country's development cause of their protected home mar THE YOKOHAMA SPECIE BANK, America, and other parts of the world was in a generally ran-down con- that did not have its origin inet, as increased volume of pro duction means reduced cost on the London Bankers: The National Pro-dition. I was not confined to bed Great Britain." LIMITED.

vincial and Union Bank of England, but I had pains in my shoulders It will, of course, be asked why German prices for Iron and steel. total. To take one instance only, Ltd.

The Guaranty Trust Company of and a burning and numb feeling in it is if we have some efficient works, products have recently been increas- New York

excellent personnel, and a favoured, owing to increased coet of cost, New York Bankers: The Irving my feet.

"As long as I was moving about, able geographical altuation that by 48 to 7a, per ton for the home National Bank"

The Equitable Trust Company of my feet did not trouble me, but British prices are so high.com market, but those increases have when I sat down they would get pared with Continental. First, let not been applied to goods for ex- New York

Interest allowed on Current Accounts numb with sensations as though me controvert the statement that port which were already below home and Flaed Deposits. Terms on applica-pins and needles were pricking British prices are high

prices, because to do so would in- Every description of Banking Burl them. At right my feet would

crease prices above world market Loans granted on appsored securities. aleép. As measured by the Board of prices, and thus exclude Germany Special facilities for Home Ex-:“I had suffered for a long time Trade price index number prices on from the change Sp

In this way before I heard about the average for British iron and The

present con- Dr. Willams Pink Pills. After I steel products are only 18 per cent, ditions, whi do not pur tried them I soon noticed an im- above pre-war, whereas, all com- profits. bein provement. The burning pain went | moditi

Established 1880,

Capital (fully paid-up) Yen 100,000,000 Reserva fund ....... Yen 99,500,000 Head Office: YOKOHAMA. Branches and Agonicles str

Newchwang. New York Osaka Peking. Rangoon,

Alexandria.

Batavikė g Boonbe Buenos AyrOS.

Calcatta:

· Canton.

Changchun Dairet (Dalde Fengtion (Max Hamborg Hankow, Harbin

Honolulu

Karachi, Kobe,

'Rio de Janeiro,

Baigon.

San Francisco.

cess transected t

SHOU J. CHEN, N

burn and ache so that I could not OUR COMPETITORS.

THE BANK OF CANTON, LTD. way and I gained in strength so above

*=Kétablished 1912

·Head Oflen:--Hong Kong

that I did not tire so easily as for- pric merly:The pains-in my shoulders

| stopped also and my sleep became sound and refreshing...) em COT |tainlyžpleased with the way Dr. Wil flame,., Pink Pills - have. helped ve recommended themt

here!

$1.50

the Dr.

60 Klang

-40′′ per cent, maka i good, depre

these low

power

01

plant

THURSDAY,

AUGUST 30, 1928.

ASK FOR

GUINNESS STOUT (Monkey Brand) BASS L. G. ALE (Stones)

Stocked By

Messrs. Chan Yuen, 6, Cochrane: Street, Hong Kong Messrs. Hung Cheong, 86, Nathari Road, Kowloon.

Sole Agents:

WAI ON TSEUNG, LTD.

243, Des Voeux Road Central,

K. M. A.

Tel. C. 711.

CERAMIC & REFRACTORY PRODUCTS

CLINKER,

PAVING,

BUILDING

& FIRE

BRICKS

!

STONETM

WARE

PIPES &

GLAZED

TILES

Ask for our Illustrated Entalogue Compare our Prices and Inspect our wide Range of Samples THE KAILAN MINING ADMINISTRATION. DODWELL" & CO., LTD., Agents, Hong Kong.

DAILY CROSS- WORD PUZZLE.

(This cross-word puzzle has been made by an expert but our readers are warned to look out for occasional phonetis spellings, such as harbor, plow, and altho,).

17 8.

10

....

M

15.

..

18

19

20

21

222

241

26 27

28

£219

33

35

130

34

136

37 138

LO

44

445

(446

মछ

49

51

52.

153

મ

155 156

158

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of herschalr (Western U. 8.).

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fors-and-aft rigged vessel -Exited 10-A Hebrow minor

prophet

11-To make an

Ingrticulate mound 13-Prudence

15-A custodiun-of arms 18-The (French pl.). 10 Part of the foot 20-Gieľa nikma -21-Fun

22-Little mounds of

'sand " 24-An unmarried weman-k -28-Victimized

29–83(ver and soppor,,

lloy

uod in making. tokane (pl.)< 31-embranous="

pouches:

32-What is the capital ein"of Bolivia7

34-A way out

86-Daka (Bcof)

30-A famous

Scottish novelist 41-Awry: (8cqt)=${

HORIZONTAL (Cont.). 46-Yearling semie |48-Capabla

40-To stagger is.

walking 50-8lient 52-A prons 64-An age BA-A metric Land'

a msanure 37--Garlande 69-Delays part the

proper hour 61-The goddess of

143

VERTICAL (Cont) 13-Congeals

14-To make a ́note ́of ́ 18-Ground grain

| 17-To bake' br'an 'over |23-A type: ms«SUTA

25-Sum Pertaining to 27-Wireless 28-Hollandish {29–A' thin soup

30-A great river of

| DW; Africa

33-The cry of the deve

malicious mischief|35-A, tropicat Jizard 82-The fruit of the oak 27-A, river in Oregon 63-To free, as from

and California 38-Related by bloed 39-An American poet,

and critic

·burden..."

64-A. Qerman lyrical

post. 65-A Turkish general

ARVERTICAL

-Corrosive

49-A salt lake in {

8. Australia? 41-A monkey-.. 42-A colloid obtained 2-An ending of nouns from animal tissu 3.Selects | 43-8°(pl.).

sharpaning stone (45-A madföinal plant

| 47-To.reuouindi Mountain, ranga inat-Girl's name :

Wyonging and

Se 68-An ending of

Inceptive verbs 54-Large river of

Opalm

Colorado 7-An Interfection S-A datament

essentially, absurd End FRISO" 9-Wos (Bont.):

4-A famous Philistine 18-To become firmly

united

DBA color

5B-River In

N. E. Scotland 60-A constellation"

(The solution of the above cross-word puzzle sol appear in to-morrow's issue along with a new cross-word

T'S SOLUTION.

B WATERI TEAR RC F #RANK WIS

ET MANELE JOELAIÊN NA AN

DOT TESTI AWAY DOO DEN O LO

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HONG KONG HEIGH

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