1928-11-30 — Page 2

HONG KONG AND ́SHANGHAI BANKING CORPORATION.

Authorised Captial

Limal und Fully Falkup managem. $90,000,000 Basurto Funds?--

EUTE

14,000,000

Basares Lishilily of Propelaiars (30, 500,000

HEAD. OFFICE: HONGKONG

www.y

QOURT OF DIRECTORS |--

A. 3. Compton, E.

Obalance

3. B. Brown, Raq: Deputy Chairma.

- Man. Mr. 1. D. F. Dalsh, · W. L. Pistonden, Big

W. H. Bell, J.

IL Lewis, Kan.

Aen. Mlt. 3.0. 6.

ΜΟΥ

BANGKOK

1. A. Plummer, Big.

1

1. 3. Well, Bog.

Markle, El. F. White, Boq.

Chial Manag

Ipa, Mr. A. Q. Elyne

ΠΑΤΑΤΙΑ.

BOMBAY

·CALCUTTA

CAKTON

THEFOO

'COLOMBO

DAIRNG VOOCHOW

HAIPHONG

NAMBUNG

RANKOW

HARBIN

MOXIEW

ILOILO

4100

JOHOR

KOSK

BRANOMES --—

KUALA LUMPUR

LONDON LYOX MALAODA

· MANILA

NOUIDEX XAQABAKI NEW YORK

PBXINGTM

PENANG BANGOON BAIGON

SAN FRANCI500

BETA SQUAT

SINGAPORE

BOURABAYA BUNURI PATANJ TIENTSIN

TOKTO

TSINGTAO

YOKOHAMA

Quran cocuta opened la Local Current) wal Fixed: Deppelle revelred for one you

short periods in Local Currway and Darling en terma which will be quoted on sopilensing. Hong Kong, th Novamber, 1926,

HONG KONG SAVINGS BANK.

The Business of the above Bank is conduct-

và by the · HONITONG AND BUANQUAL BANKING CORPORATION.

sötaland an appilation.

Ba

FOR THE LIUNGKONG BHANGHAI BANKING CORPORATION.

A. U. HYNES,

Chill Manage.

Hose Xong, ikik September, 100T.

NEDERLANDSCHE HANDEL

MAATSCHAPPLI.

(NETHERLANDS TRADING BOCIETY)

DANKNEY,

Established 1834.

Hess Yong as:-11 Queen's Bond Central,

dpkkarimé Dugital ................... Uuilders 180,000,000

(213,120,000}

Esid Up Ospital, wananin' Ouildea 12,5000,000- (50,146,870.} Meserve Pan Quilder 40,000,000

(48,488,833)

Head --(AMHTERDAM"). Eastern Blend Offon-KATAVIA. BRANDREU-landjarmasin Bandung) Bomb43,

Calcula, Charibou, Jiddah, Djumber, Djak), 2hí Hague'), Lobe, Kosa-Body, Mačunar, Medad, Padang Priamlang. Pekalongan. Panang Pontianak Bangoon. Lotterdata'}, Bemarang), Bhanghai, Bubol

Відпороть, Boersber Bonestars (Belo}," Espal, Tjlakjap and Wertevreden.')

*) Ikosa aflash have sala deponis boam, so let Lendas Bankara ----Ballogia) Provinsial Bank 144.

Correspondente sil over the world

Banking Musinam of stury description passed.

O. STEENSTRA

'Hong Kong, 18h August, 128,

MADEN.

BANQUE DE L'INDO - CHINE.

HEAD OFFICE:

96, Boulevard Haussman, Paris.

Subscribed Capital..Fra. 72,000,000.00 Paid-Up Capital....Fra, €8,400,000.00

Reserve Funds ....Fre.102,000,000.00

BRANCHES:

Bangkok Handi Quinhon Battambang Hong Kong Saigon

Shanghai

Tientsin

Cantha Mengtze

."

Canton

Dijbouti

Nam Dinh Singapore

Noumea

Fort-Bayard Papeete Tourane

Haiphong Hankow

Peking Vinh

Pnom-Penh Yunnanfu .:Pondicherry

BANKERS:

IN FRANCE; Comptoir National d'Escompte de Paris; Credit Lyonnais; Bunque de Paris et des Pays-Bas;

看銀商工法中

BANQUE FRANCO - CHINOISE pour lo

Commerce et l'Industrie (Jacorporated in Franco).

Prince's Bullding." Chater Road, Hong Kong.

HEAD OFFICE:

74, Rue St. Lazare, Paris....

Capital fully paid up.......Fra.50,000,000 Spécial working capital .Frs.50,000,000 Reserves

Frs.22,819,000

BRANCHES:

INSURANCE SHARES

THEIR REAL VALUE EXPLAINED

THE CHINA MAIL,

COMMERCE

AND

FINANCE.

FRIDAY, NOVEMBER 30, 1928.

HONG KONG MARKET PRODUCE.

Beef Biriein

» Prime Cut

M

Corned

"

Roast

Breant

"

APPROXIMATE · RETAIL PRICES.

Butcher Meat.

Nov, 28, June, Junsj.

1988. 1918 1914.

"Scup

Steak Steak Sirloin Sausages....

Bullock's Braine

Dia. Ots, Cis.

85

20

Fowls, Hainan

Greke

Poultry,

Nov. 28, June, June,

新鮮蛋

28. 1918 1914.

Cita.

Gla. Ca

J

19

40

each 20

*****88881

៩ គនន៨៩ / ០៩ ៩៩ | | |៖ \ |s |

Ib.

15. 24

i

Calcken

23 13

tb.

60

H

H

24

28 12

Capons, Small

"

45

28

24

Caponi, Large

50

20

.20

18

Duck

24 20 18

DoTes

$3

13

Eggs, Han (cooking)..

4 per doz. 28

F

40

80 35

Eggs, Hen (fresh)

86

17

60 26

Fowls, Canton

**b.

65

per set 15

10 19

40

Tongue, fresh.. Tongue,, comed

each 65

50

60

45

15

- 60

Pigeons, Canton

each 55 80

H

Head Heart

......牛

$1.20

$1.20

Holhow

海口期

90

"

M

Ib. 34 13 14

Turkeys, Cock

05

Hump, Balt

4

12

84

20

18

Turkeys, Hen

Feet

each 10 10

12

Snipe

火热 性

IT

· 60

1

Kidneys

· 16 · 10

Pheasant

12

Tall

4

TB 30

#

Liver

Ib.

18 14

Tripe

4.

8

6 7

met 120 81.00 $1,00

Interest Earnings When the total underwriting pro- Ats have been estimated as above, a deduction of 20 per cent. Is made for income tax, and then an estimate is HOW IT MAY BE FOUND made of the interest to be earned Parls, Lyons, Marseilles, Saigon,

during the ensuing year. To do this Haiphong, Hanol, Tourane, Quinhon, Insuranco shares used to be chiefly one takes the interest earnings of Huế. Thành hoa, Vinh, Phom Penh.

Peking, Shanghai, Tientsin, Hong held in the hands of a few people the previous year less interest paid who were either considerably intor on Debentures or Preference stock, Kong.

BANKERS:

ested in insurance business them if any, and make an allowance for FRANCE: Societe Generale, Banque selves or who knew a good deal interest on increased or decreased Nationale de Credit, Banque de about it. In the last year or two, funds, excluding, of course, any Faris et des Pays Bas.

however, the market has broadened alteration in the life funds, as in- NEW YORK:-American Exchange considerably, and a large portion of terest on these funds does not go to Irving Trust Co., Banca Commer-the public who know little about in the shareholders. If, for example, surance or insurance business have the funds of a company have, in- become shareholders in one company creased by £500,000 one may reckon or another. Sometimes, however, that its interest earnings the follow- even those best versed in Insurance ing year should be Increased by matters are at a loss for some sya. about £20,000, or say, 4 per cent on Calver Head & Feet., 4f tem or means of estimating as the Increase. One has now arrived i accurately as possible the real value at the estimated total future earn- of an insurance company's share, Ings of the company less tax.

| LONDON:—Midland · Bank, Ltd.

ciale Italiana.

SAN- FRANCISCO:-Bank of Italy.

Cor-

Every description of Banking and Exchange Business Transacted. respondents throughout the world. L BERNIS,

Manager. Hong Kong, 3rd August, 1928.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1858.

HRAD OFFICE: LONDON, Paid-up Capital Reserve Fund ... Reserve Liability of Propria-

tors

For

the

Mution Chop

H

Leg

Sborider

Saddle

*

Brains

J

Feet

Fry

1

Head Heart

mony years now, (saya) The next thing is to find out what writer), I have adopted dividend these earnings would pay. Pig's Chillings and extended a system which One can then work out at what price have found to work very satisfac- the shares should stand, to give a torily. It is not based upon the 6 per cent, yield with that dividend. £3,000,000 dividend paid by the company, or This is, of course, assuming that the £4,000,000 the yield, or the profits of any one yield on insurance company's 'shares, year. The method is briefly as if they paid the whole of their pro -£8,000,000

follows:-

fits in dividend, and did not increase First ascertain the percentage of or decrease the dividends, should be proat on the company's fire account 6 per cent. It is open to question, by taking an average of the last five however, whether this figure should If during these five years not be 62 per cent, as insurance

Agencies and Branches:

ALOR STAR

Malay Simia) ··

AKRITHAN

ΒΑΝΟΚΟΣ BATAVIA

BOMBAY OALOUTTA

CINTON CAWNPURE CEBU

COLOMBO DELHI

HAMEDEO

HARBIN (K. Menchuria)

HAIPHONG

HANKOW

HONG KONG

[LOILO

Iron

KABAGEL

KLANG

KOBE

KUALA KANGSAR

Para PPE

KUALA

KUCHING

MADRAS MANILA

MEDAN

NEW YORK

FEXINO PENANG PESHAWAB KANUDON BAIGON

BENARANG BEUKM BAN

SHANGHAI

SINGAPORE

TAIPING

SOUBABAYA

(F.M.B.)

TAVOY

TIENTSIN

TOKYO

TONOKAH (Bhukəti

TAINOTAO

YOKOHA

ZAMBOANGA

(Philippine Islands)

Foreign Exchange and General Bank. ing business transacted.

Current Accounts opened and Fixed Deposits received for year or shorter periods at rates which will be quoted an application.

A. H. FERGUSON,

-Manager. Hong Kong, 3rd April, 1928.

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

HEAD OFFICE:-Taipeh, Formosa,

Incorporated by Special Imperial Charter, 1899.

Central Bank in Formosa. Bank-Notes insued

Average amount .. Yan 45,000,000

BRANCHES AND AGENCIES: JAFAN:—Tokyo, Yokohama, Kobe,

Osaka. FORMOSA:Giran, Kagi, Karenko, Keelung, - Makong, Nanto, Shin- chiku, Talchu, Tainan, Takao, | Tamaul, Toon, Haito, Talto.

years:

Kidneys

M

Liver

Feri Chap

Leg

Loin

Fat or Lari....

FL

*

Ib. 40 28

Quall Partridges

Almonds.

Apples (Califorala)

Bananas (bride's)

20

L

44. 24

46

10 - 97.

Per att

14

18

15

Carambola

28

18

Cooonnuta

18

each 18

20

Lemons, China'

15

Lemons (America)

48

24

36

20

Oranges (Canton)

36

Orangea

42

70

26

70

each 12

1

Plantain

10

10

Pomelo, Slam

Walnuts

F10

21

80 X0

18

48

26

10

20 50

རྭ་ཆེ ར ནས བརྒྱ བ ལ མང མ ལ ར ར རྒྱ ཋ ད ལ ན ན

Shop's Hend & Fest.. Yg per set.90

*

Heart ***

Kidneys

Elver

Sucking Pign, to order. *

Sort, Beef

Motion

Ven)

#

Sausages

No. 1...

Barbel

Bream

Cantory Fresh

5

Water Fish.

Carp

Catfiel

Codfish

Crabi

New Zealand goes in for Rabbits :

One hundred of these chinchilla rabbits made a twelve thousand mile journey under the auspices of the Canadian Pacifle Express Com- Dany tram Lincolnshire, England, to Auckland, New Zealand, where they will form the nucleus of a rabbit farm. The express MEGSEN- gura disbursed on ton of feed to them during the voyage.

Cuttla Fish

Dab

Dace

Dog Fish Zels, Conger

Fresh Water Yellow

Frogs Garoupa Gudgoon Herrings

Halibut

Labrus

Leuch

CHINA: Shanghai, Hankow Amoy, the tendency has been to decrease companies generally have some un-Lobsters Foochow Swatow, Canton. slightly it is, advisable to deduct 1 called capital, but a special allow- Muckerni OTHERS: Hong Kong, Singapore, per cent. or 2 per cent. from the ance can

Boarabaya, Semarang, Batavia,

be made for this latter Mook Fish Bombay Calcutta, London, Now average percentage of profit. It is factor by taking, say, 10 per cent. Mullet. necessary alaq to make some allow of the uncalled capital from the ea- Oysters York, Dairen.

LONDON BANKERS:

ance for the occasional conflagra- timated value of the shares. We Parrot Fish The London County Westminster and tions which strike a fire account. have now to make some allowance Perch

This allowance is a very difficult sum for the fact that an insurance com- Pike to fix

Part's Bank.

Credit Industriel et Commercial; HONG KONG BRANCH: Societe Generale.

IN LONDON: The National Provin- cial & Union Bank of England, Ltd; Comptoir National d'Escompte Paris; Credit Lyonnals.

The Bask hea Correspondants in the Gemmersial The figure I have adopted Is pany's business is constantly in-Plaice Candrar in the European Continant, Honda, Man, shurik, Ziaries, Japan, Indo-Ching, Ham, Inda 22 per cent. The first step then takes creasing. This can be done by Pomfret, Black Fallopian Zhands, Java, Alton, Ulvila, place, namely, the estimating of the working out the average increase in Pomfret, White *Internet allowed on Current Accunia, and Fized Deposing a raise widok vill be quoted na applice normal annual fire profit of the com- premium income in the various de Prawas Degodia in Tan ann be scowled. pany, and this is done by applying partments, adding the normal por-Bay ...

J. IHARA, the percentage arrived at above to centage of underwriting profit to Rock Fah

Manager the last year's premium income. The this increase to find the normal in- Reach 8, Des Voeux Road Central. same system can then be adopted crease in profits and capitalising Hong Kong, 22nd September, 1927. with regard to the company's acci-this sum, adding the capitalised

Salmon dent and marine secounts, but in amount to the value of the value of these cases without any deduction the shares as estimated abova. Let. for conflagrations. Next one has to us take a simple example and work doal with the life count, and here out the case of the North British it is necessary to ascertain the per- and Mercantile Insurance Co. It is centage of profit made on the as follows: premiums during the last quinquen nium. This is generally about 30- .$60,000,000.08

18,278,800.00 per cent. If 10 per cent. of these 9,629,485.24 profts go to the shareholders one can reckon that they are getting 2 per cent. on the pronlums, and the estimated future shareholders' por- tion of the life profits is therefore

de

THE BANK OF CHINA.

行銀國中

(Bpecially Authorised by Presidential

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

Mandate of the Republic of China Interest allowed on Current Ac- on the End of November, 1917), counts and Fixed Deposits according .;_

to arrangemente,

Every description of Banking and

Exchango, Business transacted.

Safe Deposit Boxes to let

A. LECOT,

Manager.

Hong Kong, 28th Nov., 1928.

Authorised Capital Paid-up Capital

Banerys Fund

HEAD OFFICE: PEKING.

HONG KONG BRANCH:

4. Queen's Road Central

Branches and Sub-branches all over taken as 9 per cent on the last China and Correspondents in Europe, year's premiums, or, if they are THE YOKOHAMA SPECIE BANK, America, and other parts of the world steadily increasing, on the next

LIMITED.

Established 1880,

Capital (fully paid-up)-Yen 100,000,000) Reserve fund

Yen 102,500,000

Head Office:-YOKOHAMA.

Branches and Agencies at: Alexandria

Batavin

Bombay

Nowchwang

Buenos Ayres Poking

Calcutta.

Canton

Changchun i

Dalren (Dalny)

New York Osaka Rangoon Rio de Janeiro Saigon Ban Francisco

Semarang Shanghai

Fengtien (Mulden) Scattle

Hamburg

Hankow

Harbin 'S

Hong Kong Honolulu Kai Yuen Karachi Kobe

London

Bhimonoseki Singapore Soerabaya Sydney *Tichtsin Tokyo

Los Angeles.. Lyons Nagasaki mes

Manila

Nagoya WAN

Talmanfu. Tsingtan Vladivostok

Tomporarily.

closed)

Interest allowed on Current Ad.

counts.

London Bankers: The National Pro vincial and Union Bank of England, year's estimated premiums. There are also occasional proflbs on other The Guaranty Trust Company of small lines of busines, which can New York.

New York Bankers: The Irving fairly easily be estimated.

National Bank.

The Equitable Trust Company of

| New York

Interest allowed on Current Accounta

and Fixed Deposits. Terms on applica- THE BANK OF EAST ASIA, LTD.

tion

Every description of Banking Busi nesa. Tranenstad..

Loans granted on approved securities. Special facilities for Home Er change.

SHOU J. CHEN,

Manager.

با همه

HEAD OFFICE; HONG KONG.

10, Des Voeux Road Central, Hong Kong

THE BANK OF CANTON, LTD. Bombay Nagasaki Seattle:

X

Be Extablished 1912.

Head Office: Hong Kong.

(H.L. Carrizal) $31,608,000

Falk Up Capifal pemenceteris

B BRANCHES

Mungiak, Kew York and San Fizacinas

LONDON DANSKERS

The Lloyd's Day Lêmiol.

In all waigal, whine at: the world.

Deposits received for fixed periods in the Depot Berang Curious slang) is a poneky

at rates to be obtained on application.

H. MORI,...

Manager. Hong Kong, 11th September, 1928,

LOOK POONG SHAN, Partaide tai Chief Manager, Hong Kong, 10th February 1987,

Authorised Capital ...

...............$10,000,000 Fald-Up Capital 5,000,000 Eeserva ............ 1,200,000 BRANCHES AND AGENCIES:- Batavia Melbourne San Francisco

Calcutto New York Semarang Canton Osaka Singapore- Haiphong Paris Sourabaya Fonolulu

Peking

Sydnay Penang Taipeh. Kowloon Rangoon lentälades London Saigon Tokyo

Kobe

Manila Shanghai

Correspondents In all principal cities of the world,

Every description of Hanking und Exchange business transacted Loans

Tanted on approved skurities.

BAFE DEPOSIT BOIUS, to let

KANTONG PO

2 Chist Manager,

Hong Kong, 21st March, 1927,

f

(Continued on Page 8)

Shark

Skate.. Shrimp*

Spapper

Soler

Tench Terbot

Turtles, small, tv.

中羊日开

Fish.

海鮮

HA

題 於省) 黃餡淡賣田石自請將賣品 芒寳花班昴自閉梯石崇瓣步奇立德尤左脚 LALEERE #21TEES or265 DE GIRA DE DIE GEDE ALIME SE DE DE DE CIE CAR DE OR desde

C.PR President Visits Wheat Champion, Herman Trulla is one of the men of Foreign birth who is doing things for Canada Born in Germany, he is now the owner of a fine farm in the Peace River country near the town of Spirit River. At the Chicago Live Stock Exhibition of 1,928" he won the prize for the world's best- wheat, and he ti working on the development of a new party-ripening rhenti bich, he says, will rerolutionize farming throughout northers Chauder When EAT, Beatty, and his party of Canadian Pacitto diretters in the Fedos River country recently, they visited Mr. Trolle's farm fect panel She Emportant work of the wahinawar interrupted long enough to ~have the phoya photograph tabm. » His and Mrs. Trade aze in the venta

on the plan is Mr. Ericyandon the art la Bir Herbert Halt,

98998518*8*** ** ** 1,}

B

********* | - 198 88°******************2928e

Fruits.

each

pair 2.20

each 26

85

tr

t

70

山

D

22 24

燕山传感

合金神新大合

#

*

each, 14

➢སྨུ༅|1སྐ ཁ།སྐs།*1*ཏྟསྶཐཱ

12

Lichess, Dried ....

Peara (Canton) ..... Peanuts

Persimmons, Large

12 Ib.

each.

荔枝手 15.

新合刮控

Grapes

14

14

4

each 14

Ib. 22

45

* reach 12

*

lb.

4

Artichokes Beans, Sprout

Long

Vegetables, &e.

Beat Root Bitter Squash Brinjala, Green

Red Cabbage, Chinese

# (Shanghai) Cane Shoots, bunch Cauliflower (Large)

Carrots Celery, Chines

Red

Ginger, Young ....

Old

Horseradish, Sbanghat.' Indian Corn.... Lettuce

Water Chestnuts ...

Mushrooms, Fresh

***B*

****

ཡགཋཤྩ |། །ཎྜསླབཝ།།'

10

15

13

1988 1989

16

*~ | | |** | | | 1. ƒ ****99119111

lb.

10

24

→

20 10

**

24

13 16

5

28

18 27

5

12

9

8

"

18

10

"

27

"

12

23 26

10

"

#

10 2

(Medium).

大樺榮花 each 28

28 10

(Small)

中華花

24

20

轉榮花

20

ກ

lb. T

G

E1

10

10 10

16.

H

Chillies, Dried

20 25

10

#

26

"

18

19 16

Green

$2 26

#

10 8

12

TE

Curry Stuff, Engllch

40

30

菜蜜材料

8

8:

"

Cucumbers

26

22 18

Garlie

10

6

18

12

7

18 15

10

10

22 18

35

22 24

.04

32

21

20 26

2

13

+

19

· 82

18

18

-14

*

>

20

15

Okroes Oulous, Bombay

n

16

Green

18

28

Shanghaf

上海路

60

86 80

88

45

Parsley Potato, Sweet

40

8

10

14

Japanese

20

14

* American

ta

18

22

10

Pumpkin Radish.

72 88 20

18. 8 10

22

18 10 10

» 58 82 30

Rhubarb (Fresh) Shailots Spinach Tomatoes

26 85

Taron

28

28

22 18

Vegetablo Marrow

18

19

Water Cre

1.00 40

Water Lili Root

21

*

¤¤¤ 2À¤¤************5* * *** ** **** ** S

Mandarin. }}}

鲜

Ternips, Punti (Long),

*

本山课.

9

5

10

12

7

6

15

6

HONG KONG TIDE.

The tide-table given below has been obtained by aid the Tide-predicting

| Machine, which includes 40 composants 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. Doberek during the years 1887, 1838 and 1889. ****

The times and heights are given for Kaulung, but they may be used for the Victoria Naval Yard and Aber- dean, 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 carrent, the two phenomena belog, quite distinct.

G25 Cents Presents!

DITE

Nor

Staurhrd Timer

Nov. 80 to: Dec. 8, 1928,

Váten (Lower WATER.

Standar Bt

Timeo

B

48:-0.6.

108,5

(zo faferior" High (kor Low, Wtor

ends

Wod

Thin 6 m4.680821131:26