1928-12-20 — Page 2

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HONG KONG AND SHANGHAI

BANKING CORPORATION.

Authorised Capital «

Issued and Pully Pald-up

Reserve Funde

J

Sterling... 8,100,000

§00,000,000 36,000,000

· Silver-automa$14,600,000. Rear Liability of Proprietors $20,000,000

HEAD OFFICE. HONGKONG,

COURT OF DIRECTORS:-

A. H. Complot. Eng.,

Obairman.

H. E. Brown, Eng. Deputy Caliman

Hon. B. D. P. Beth. W. L. Tetapılan, Bag.

J. A. Plummer, Req. W. II. Bell, Esq.

D. Landor Lawie, Eng. «T. G. Well, Esq. Hen. Mr. C. G. 8. Muckle. II. P. 'While,, Esq. i

Chief Manager,

AMOT

DANGKOK

Hon. Mr. A. C. Tignes.

BATAVIA

BOM! DAY

CALCUTTA:

CANTON

CHEFOO

COLOMI

DAIREN

FUOCHOW

HAIPHONG

HAMBURG

HANKOW

HARBIN

HONGKEW

120120

1101

JONGRE

• KODE

DEANCHES-

KUALA LUMPUR

LONDON

LYONS

MALACCA

MANILA

MOURDEN

* NÃO ABAKI

NEW YORK PEKING

PENANG

RASUHOON

NAKION

SAX FRANCISCO:

BRANCHAI

SINDATORE

SOURABAYA MUNGEI PATANI TIESTHIN TOKYO

TSINGTAO

-YOKULIAMA

Curnal Accounts opened in Local Currency and Fized Bisposila required for us aris Thowser foal Currency and

will be quoted de spplication. ou formi

Hong Kong, Bib November, 19.

HONG KONG SAVINGS BANK.

The sin of the above Bank le conduct. ad by the HONGKONG AND SHANGILAI BANKING COSPURATION. Rutos may bo obtained on application.

FOR THE HONOKOND & BANGAL BANKING CORPORATION

A. C. ITNES,

Chist Mangs

Song Xous. 18th September, 1917.

NEDERLANDSCHE HANDEL

MAATSCHAPPIJ.

INETHERLANDS TRADING SOCIETY)

DANKZES.

Established 1825.

Hong Kong Office :—11 Quvon's load Central

Authored Capital

Pald-Up! Captial

loss Fund

Bend

BRANCHES-Indor

Gulldari 150,000,000. (£12,500,000.)

Gulldari 80,000,000

(£5,500 $570,) wilddrs 10,200,000 (21,909,388.)

(AMSTERDAM').

行銀商工法中

BANQUE, FRANCO - CHINOISE

pour le

Commerce et l'Industrie (Incorporated in France). Prince's Building, Chafer Road, Hong Kong.

HEAD OFFICE:

74, Rue St. Lazare, Paris. Capital fully paid up Frs.50,000,000 Special working capital Frs.50,000,000

..Frs.22,319,000| Reserves.......

BRANCHES:

Paris, Lyons, Marseilles, Saigon, Haiphong, Hanoi, Tourano, Quinhon, Tuc Thanh hoa, Vinh, Prom Peal.

Peking, Shanghai, Tientala, Hong Kong.

RANKERS: FRANCE: Societe Generale, Banque,

Nationale de Credit, Banque de Taris et des Pays Bas. LONDON:-Midland Bank, Ltd.

NEW YORK:American

Exchange

Irving Trust Co., Banca Commer- ciale Italiana. SAN FRANCISCO:-Bank of Italy.

Every description of Bor

THE CHINA MAIL,

STAMP DUTY PETITION

Protest Against the New Bill

247 SIGNATORIES

Merchants Emphasize Potential Difficulties

Messra. Lo and Lo, solicitors, forward a copy of the petition presented to His Excellency the Officer Administering the Govern- ment in regard to the Bill to amend the law relating to stamp duties. The petition has been signed by 247 bankers, firms, associations, companies, merchants and residents.

Messrs. Lo and Lo, in a cover- 2. That Your Petitioners beg ing letter, review the position as to submit below some of the follows:-

grounds for entertaining the opinion above expressed.

We have the honour to enclose herewith Petition to His Excel- lency the Officer Administering the Government in regard to the Bill to amend the law relating to Exchange Business Transacted. Cor.

Stamp Duty, signed by various reapondents throughout the world.

L'. BERNIS. Bankers, Firms, Associations, Manager. Companies, Merchants and Resi-

dents.

Hong Kong, 3rd August, 1928.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Chator, 1859. HEAD OFFICE: LONDON.

Paid-up Capital

Reserve Fund.. Resurve Liability of Proprie

tora

2. As some of the signatures may be difficult to make out we jenclose herewith a list of the

same.

י

3. That according to the "Ob- jects and Reasons" the object of the Bills two fold: (a) To prevent the evasion of

Estate Duties. To prevent the evasion Stamp Duties..

(b)

of

their reasons in support of their 4. That before setting out respectful contention that there is, in practice, no evasion in either сазо to auch an ixtent as to 3. The signatures speak for themselves, and we feel it super plated, and that, even assuming,

justify the legislation contem £3,000,000 Auous for us to submit any com for the sake of argument, the £4,000,000 ments thereon beyond the follow-existence of such evasion, the £5,000,000 ing brief remarks:-

avowed object of the Bill will not

Agencies and Branches:

*ALOR STAB

(Many Biler)

AMRITBAN BANOKOR DATAVIA DONDAY CALOUTTA CANTON CAWNIORE CEDU COLOMBO DELUI HAIPHONG HAMBUKO

KLANKOW

HADDIN

(N. Kanchuria)

TÙNG TUNG

ILOILO

IFOK..

*KARACHI

KLANG

KUDZ

KUALA KANGSAR

Perak (...)

KUALA LUMPUR

KUCHINO

. MADRAS

MANILA

MEDAN

NEW YORK

FERING

PENANG

PESHAWAN

RANGOON BAIOOX ЯЕКАЛАНО BERG BAN SHANGHAL RINGATOBE BOURADAYA TAIPING

TOKYO

(a) The managers of all the lead-be achieved by the proposed en- ing European Banks, in the actment, Your Petitioners desire Colony, with the exception, to make some preliminary obser- of the Hong Kong and Shang-vations upon the more general hai Banking Corporation, question of "Blank Transfer," are signatories.

which constitutes the raison d'etre (b) The list comprises practically of the Bill.

all the leading Chinese Banks, both native and those company and a shareholder thereof, ducted according to European the latter remains a shareholder methods.

with all the rights and liabilities as such, unless and until another

(e) The list contains leading

TÁVOY TIENTHIN

TONGKAH (Daukai)

I

TSINGTAO

YOKOHAMA

YAKDOANGA

(Pallippias Islands)

Foreign Exchange and General Banking business transacted.

Current Accounts opened and Fixed Deposits received for 1 year or short- (d) er periods at rates which be quot- ed on application. '

A. H. FERGUSON,

Manager. Hong Kong, 3rd April, 1928.

Funter and Oce-BATAVIA.

Bandong") Bombay, Calcutts, Cudtibou, Joddah, Bou Djokiskarta) The Mage). Koba, Kola-Radje, Makamsar, Medan, Padang Penang,

Pa

PekalongRollarda Semarang'). Baoghal, (tre),

Pontianak, Bangou,

Boersbain, Singapure, Soerakarta (Solo), Tegal, Tylist/ap Bad Walletrodan.

Then afhoes have info depical boss to iss. Landon Bakers-Nations) Provincial Bank L.

Correspondante il avar the world

Beaking bualiom of every descriptive tranenstad.

9. STEENSTRA,

Hong Kong, 18 August, 1928,

Hanager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussman, Paris. Subscribed Capital.Fra. 72,000,000,00 Paid-Up Capital ....Fr. 08,400,000.00 Reserve Funds ....Frs.102,000,000.00

BRANCHES:

Mengtze

Quinton

Bangkok Hanoi Battambang Hong Kong Saigon Chatlo

. Shangbai Canton Nam Đinh Singapore Dijbouti Noumea Tientsin

Fort-Bayard Papecte

Haiphong Harikaw

Tourano Peking Vinh

Prom-Penh Yunnanfu

Pondicherry BANKERS:

IN FRANCE: Comptoir National d'Escompto de Paris; Gredit Lyonnais; Banque de Paris et des Pays-Bas Credit

Industriol et Commercial;

Societe Generale.

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

I

HEAD OFFICE:-Taipeh, Formosa.

Incorporated by Special Imperial' Charter, 1899.

Central Bank in Formosa, Bank Notes issued

Average amount....Yen. 45,000,000

BRANCHES AND AGENCIES: JAPAN: Tokyo, Yokohama, Kobe,

Osaka.

FORMOSA:-Giran, Kagi, Karenko,

(c)

"Kau

mer-

5. That as between the Com-

Chinese Firms in the Colony, person has been registered as including "Nam Pak Hong" holder in his stend in the books Pat Hong" of the Company. firms: firms: "Californian chants: Shipping: Imports and Exports: Gold Leaf Deal- ers: Universal Providers. The petitioning Associations include not only the two Sharebrokers' Associations, but also such representative Chinese institutions as the ""Twenty-Four" Merchants' Guild (with a membership of 6. That although this is the over 500 firms, including 52 position as between the Company of the leading "Nam Pak and B shareholder, yet Hong" firma), and Sugar between the latter and Merchants' Association.

third parties, he can deal with The individual signatories the shares, which are include well-known mer-"choses in action," in the course chants of the British, French, of everyday business transactions, Spanish, Portuguese, Chin- and without registering, any in- ese, Parsee, Indian, and strument of transfer with the Japanese communities, and Company, by resorting to the long are of a most representative established practice of "Bank nature.

Transfer."

"Until the instrument of trans-, fer is registered the transfer is not complete; the transferor is the legal owner of the shares, and, if they are not fully paid, is liable to pay all the calls made thereon, while his name, remains on the register of members.”

(Halsbury's Laws of England, Vol. 6, page 192).

mere

4. In your letter of November 7. That this practice Was Keelung, Makong, Nante, Shin 30 last, you were good enough to founded on mercantile con- chiku, Taichu, Tainan, Takao, intimate that pending receipt of venience; the incidence of fiscal Tamsui, Toen, Heito, Taito. CHINA: Shanghai, Hankow, Amoy, the Petition, the Bill would not imposition, and the correlated Foochow. Swatow, Canton... be further proceeded with, pro-problem of finding legitimate OTHERS: Hong Kong, Singapore, vided our representations were means of avoiding legal liability

Serrabaya, Semarang,

Batavia,

In strict for the impost, had nothing what- Bombay, Calcutta, London, Now not unduly delayed.

compliance with the spirit of your ever to do with its genesis or its proviso, our clients, the promoters development. Its historic origin The London County Westminster and of the Petition,- decided to con- fine the period within which to

York, Daire,

LONDON BANKERS:

Parr's Bank.

one week,

as from

The Enaku Correspondents in the Camelobtain signatures to Centres in the European Continent, Refs, and the Petition was accordingly churia Telogtao, Japan, Indo-Chins, Blam, Indie, Philippine Inlande, Java, Africa, 1.ŠA, A closed for signatures

Intars allowed on Current Accounts, and yesterday. pa as rat which will be quoted on applica os. Deposita in Yen can be accepted.

J. HARA,

IN LONDON: The National Provia- HONG KONG BRANCH:

5. We are instructed to state that, given the necessary time, Manager. further signatures--to practically

an unlimited extent could. easi

3, Des Voeux Road Central

cial & Union Bank of England, Ltd.; Hong Kong, 22nd September, 1828,ly be obtained. But our clients

Comptoir National d'Escompte de

Paris; Credit Lyonnais.

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

Interest allowed on Current Ac- counts and Fixed Deposits according to arrangements!

Every description of Banking and Exchange Business transacted. Safe Deposit Boxes to Jet.

A. LECOT,

Manager.

Hong Kong, 28th Nov., 1929..

THE BANK OF CHINA, *

行銀國 ***

feel that the representatives, rather than the mere quantity, of the-signatures is of importance, and that the signatures obtained Within such a time, and repre commercial senting as they do interests of all the communities lin the Colony, must bear the most cogent testimony to the 9,029,425.24 general feeling of opposition to

the Bill.

(Specially Authorised by Presidential Mandate of the Republic of China on the 22nd of November, 1917).

Authorised Capital Paid-up Capital

Reserve Fund

.200.000,000,00 18,278,800,00

HEAD OFFICE: PEKING.

HONG KONG BRANCH:

4, Queen's Road Central.

6. We are respectfully to ex- press our clients' earnest hope that the Petition will receive the Branches and Sub-branches all over sympathetic consideration of His China and Correspondents in Europe, Excellency. THE YOKOHAMA SPECIE BANK, America, and other parts of the world.

LIMITED.

Established 1880.

-Capital (fully paid-up) Yon 100,000,000

Reserve fund

Yen 102,500,000

Head Office:-YOKOHAMA. Branches and Agencies at:

Alexandria

Batavia

Bombay

Buenos Ayres

Calcutta

Cantori

Changchun

Dairen (Daing)

Newchyung, New York Osaka

Peking

Rangoon

Rio de Janeiro Saigon

Fengtien (Mukden) Seattle'

Hamburg

Hankow.

Harbin

Hong Kong Honolulu Kai Yuen

San Francisco

Semarang Shanghal

Shimonoserf

Singapore Soorabaya Sydney

Kobe

Tientsia⋅ Tokyo

London

Los Angeles

Lyons

Manila

Nagasaki

Nagoya

Karachi

Tainanfu Tsingtau Vladivostok

(Temporarily

closed) Interest allowed on Current A- counts.

Deposits received for Axed perioda at rates to be obtained ed application.

H. MORL

My Manager. Hong Kong, 11th September, 1928,

7. We are instructed to en- London Bankers: Tho National quire whether the Government Provincial and Union Bank of England, has any objection to the publica- Ltd.

The Guaranty Trust Company or tion in the Press. of the Petition, Now York.

*with a list of the signatories, and New York Bankers-The Irving a copy of this letter. National Bank.-

We have the honour to be,

Sir,

The Equitable Trust Company of Now York

Interest allowed on Current Ac counter and' Fixed Deposits, Terms on application.

Every description of Banking Busi ness transacted

Yours, obedient servants,

(Signed) Lo & LD,

1. That Your Petitioners, be

Loans granted on approved securing of the opinion that the above ities.

Special facilities for Home Ex-mentioned Bill, if it were to change.

THE BANK OF CANTON, LTD.

Established 1912,

become an Ordinance, would pro SHOU. CHEN,foundly and, prejudicially affect Manager, the owners of shares which are on share registers kept in the course of commercial and busi- ness transactions, would tend seriously to restrict legitimate dealings in shares; and would constitute an undue interference with well-known and vested rights, of property, and that the Canton Ebangkel Hanky, Br, Bald Bill is unnecessary and un- Bangkok, New York and Bản' francisc, fair, and is detrimental to the best interest of the Colony, humbly pray that Your Excel-

Head Office: Hong Kong.

Authorion Capital (II.K. Umerincf) -$11,000

Paid Up Capital 064,300

But Fast 36000

ANG BELA NOTIES 1-5).

LONDON DAKKERU 1***

-- The Loyds Bank Zimilad,

CORRESPONDENTS

“In all prinsipál elites of the Wald,

Fœal palepings made haakow bestowe of Jency may be graciously, pleased

cipios d

Bats: Degolletée (varios aluna) at a rady cochet and from #bathan SPARTA,

to direct that the first reading of

the Bald Bill may not be proceed- LOOK POONG SHAN, ed with and that it be abandoned Hong Kong, 19th February, 1927. altogether.

is synchronous with the creation of statutory limited liability of shareholders. It has received i high judicial recognition in Eng-i land, and the English Revenue Law has made provision for its opperation.

B. That after all, this prac tice, and the judicial and statu- tory recognition of its existence are easily understandable. Be- cause the absence-or prohibition --of such a practice, must involve the neccesity of resorting to the formal, and cumbersome registra- tion of the legal transfer of title as a condition, precedent or sub- sequent, to every transaction, with all ita consequent delay and inconvenience, and this necessity would at once destroy the funda mental nature of shares, and their intrinsic value as market- able securities readily utilizable to meet business and commercial requirements..

Authorities

9 That in support of the posi- tion postulated in the preceding English three paragraphs, Authorities could be cited at ran- dom, but Your Petitioners beg leave to submit the few quota- tions which follow:-

(a)

:

+

Д

"Upon a sale or mortgage of shares, the transferor very commonly signs and hands! over what is called a blank transfer (i.c. transfer signed by the.transferor but with a blank for the name of the transferee), the inten tion being that the purchaser or mortgagee shall be at liberty later on to fill up the blank and perfect his secur-| ity by getting himself regis tered." (Palmer's Company Low, 12th Edition, page 188).

(b) "The most common method of rendering registered secur- ities available as cover, or as security for a debt, is by thé, lender depositing with

the certificate relating to the accompanied by a (Continued on Page 3)

game

CHILDREN'S APPETITES

are satisfied by Nature's most

perfect food:

"

"BEAR BRAND MILK

Sole Agents for HK. & So. China A. B. MOULDER & CO., LTD. China Building, Hong Kong.

FOR THE FAMILY FEAST

Whatever courses precede and whatever delicacies may follow the high mark of expectancy- the pivotal point of festive enjoy ment will be the Turkey-Hence the necessity of having a- DAIRY FARM. BIRD.

They are the best."

OTHER SPECIALTIES

Geese, Ducks, Sucking Pigs, Capons, Chickens. Eng. lish and Own Cured Hams and Bacon, Game, Sausages, Stuffing, Game and Meat Pies, etc., etc.

ORDER EARLY AND AVOID DISAPPOINTMENT.

Dairy Farm Ice & Cold Storage Co., Ltd.

THURSDAY, DECEMBER 20,

THE

HONGKONG

-PENINSULA HOTEL:

HONGKONG HOTEL: REPULSE BAY HOTEL:

PEAK HOTEL

AND

SHANGHAI

-ASTOR HOUSE; PALACE HOTEL: MAJESTIC HOTEL,

HOTELS,

LIMITED

In association with the Grand Hotel des Wagona Lita, Peking,

KING EDWARD HOTEL.

Most Modern and Central Hotel in the Colony, all Bed Rooms, newly renovated and installed with Box Spring Beds, Hot and Cold Water, also Telephone. Hotel Laurich meets all steamers.

TEA DANCES:

·

Monday, Wednesday and Friday, 5 to 7 p.m.

Tel. Add: "Victoria."

Telephone No. C..378.

J. H. WITCHELL,

Managers

Courtesy, Comfort, Service

and Luxuries of Modern Hotel Construction

THE HOTEL RIVIERA

MACAU,

Cable Address :—” RIVIERA, MACAU."

MONKEY

BRAND GUINNESS STOUT

ASK FOR

GUINNESS STOUT

(Monkey Brand). BASS L. G. ALE

(Stones)

Stocked By

Mesara, CHAN YUEN,

6, Cochrane Street, Hong Kong. Messrs. HUNG CHEONG, 66, Nathan Road, Kowloon,

Sole Agents:

WAI ON TSEUNG, LTD.

China Building. Tel. C. 3312.

JAPANESE HIGH-GRADE

PORCELAIN STORE. SATSUMA WARE, KUTANI WARE, MINO WARE, ETC.

“MIYAJIMA?!

27, QUEEN'S ROAD, CENTRAL. Ground Floor, Hong Kong Hotel Building,

BEWARE OF IMITATIONS

Borsalino

ANTICA CASA

FONDATA NIU 1887

HEY are used by millions of Men

Twho care for a really supenor Hat

This hat is the genuine BORSALINO.