1929-04-09 — Page 2

HONG KONG AND SHANGHAI

BANKING CORPORATION,

Autoland Caplial

***** $50,000,000

Leward and Fully Paid-up $20,000,000

·Razdrvo, Fazide

Bher

Bly

.. 10,000,000 ..........................$14,000,000

Reserve Liability of Proprietors 4,500,000

HEAD OFFICE, HONGKONG,

COURT OF DIRECTORS ——

1. 8. Brown, Eng. Chairman,

W. II. Bell. Esa

Deputy Chairm

B. D. F. Both, Eag

4. H. Compton, Esq. B. Lanča Lewin, Era,

0. G., Mankia, Koo.

AMOY BANGKOK BATAVIA BOMBAY

CALCUTTA

CANTON

CHEFOO

COLOMBO

DAIREN

FOOCHOW

HAIPHONU

HAMBURG

HANKOW HARDIN HONGLEW

LouLo

100

JOHORE

КОВЕ

KOWLAKON

W. L. Pattsadan, Esq

7. K. Pearce, Esq.

J. A. Plama, Esq., J. P. Warzón, Esq. Chief Manger,

BRANCHYS

KUALA LUMPUR

LONDON LYONS MALACCA MANILA MOURDEN

NADASAKI

NEW YORK

ΔΙΑΚΙΝΟ

PENAND HANGOON

SAIGON

SAN PRANCIRCO

SHAMHAL

SINGAPORE

SOURABAYA

NUNGHI PATANI TIENISIN

TOKYO

„TSINGJAO

YOKOHAMA

Cart Accouble agemed to Local Durrency and Vixed Deponita received for one your c shorter periode in local Currency and Berling

on to which will be quoted on pplication. Hong Kong, 18h March, top.

行銀商工法中

BANQUE FRANCO - CHINOISE

pour le

Commerce et l'Industrie "

(Incorporated in France).

- Prince's Building, Chater Road,

Hong Kong.

HEAD OFFICE:

74, Hue St. Lazare, Paris,

Capital Tully paid up..Frs.50,000,000 Special working capital Frs.50,000,000 Frx.22,310.000 Reserves

RUSSIAN BAIT

THE CHINA MAIL,

COMMERCE

DANGLED BEFORE THE BRITISH DELEGATION

It the

AND

FINANCE.

الله لو

RUBBER MARKETS

IRREGULAR IN MAIL WEEK

SEX EQUALITY

"SUBTLE EFFECTS" OF ENFRANCHISEMENT

ACUTE-CONTROVERSY

The outward and visible sign of women's political enfranchisement is so new and entrancing a possession that its inward and spiritual grace is likely to be momentarily overlooked, writes Evelyn Sharp in the "Manches

But since we can ter Guardian." flaunt our actual vote only once in five years or so, the amore subtle effect of enfranchisement, the revolution it Involves in our mental av

το

a week ago, and this was more em- the greatest of the artificial sex bar-

at 12.

and

TUESDAY, APRIL 9, 1929.

while the National Women's Trade Union League of Amarlen advocate such legislation on the ground; that as expressed in their organ, “Life and labour Bulletin" (December)-laws limiting women's hours of labour are one of the mеала

of getting equal economic rights; and economic rights, which by no means coincide with legal rights, are the kind of opportunity, because they strengthen power."

are the kind that women's bargaining

Varying Lahir Conditions Labour conditions probably vary in ihe two countries; but at least the organised industrial women of America recent Govern- have the support af ment report which represents the re-

of an Bulte

inquiry made, by the Women's Bureau of the United States

Now that Department of Labour into all the existing legislation of the kind in the different States only one State has further into its passed none and,

the

London, Yesterday.

The market has been rather irregu- of newspaper, lar during the past week, says a re-o consensus

port dated March 6. There were in what are still sometimes opinions is any criterion Great Britain BRANCHES:

dications of profit taking, both in Lon- termed women's questions, assumes Paris, Lyons, Marseilles, Saigon, is not likely to rise immediately to the Haiphong,

Hanoi, Tourano, Quinhon, luscious-looking balt dangled before. don and in New York, when we wrote all the greater importance.

the British Trade Delegation, now Huế Thanh-hoa. Vinh Pnom Penh.

phasised towards the end nfriers has crumbled away and Peking. Shanglai, Tientsin, Hong touring Russia, by M. Piatakoff,

the week, when Spot was sold storming of the rest is mainly a discard effects in 1,661 establishmente emrlay- Governor of the Soviet State Bank, Kong.

BANKERS:

who declared that the Soviet could. FRANCE: Societe Generale, Banque give £150,000,000 worth of orders to Nationale de Credit, Banque de British industry during the next five Paris et des Pays Bas.

years or the Soviet's import programme LONDON-Midland Bank, Ltd.

could be raised to £200,000,000, pro- NEW YORK: American Exchange viding that British capital agreed to Irving Trust Co., Ranca Commer-invest in various concessions and con- ciale Italiana.

tract operations and normal diploma- SAN FRANCISCO:-Bank of Italy.

tic relations were restored, that is, a huge loan from British bankers back- ed by

the British Government. The "Morning the spider told the

The "Daily Telegraph" urges the same careful scrutiny of guarantees a in 1924.

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

L. BERNIS,

Manager. Hong Kong, 3rd August, 1928. THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated hy Royal Chater, 1858. HEAD OFFICE: LONDON. Paid-up Capital

.£3,000,000 $4,000,000

.£3,000,000

Reserve Fund...

HONG KONG SAVINGS BANK. (Reserve Liability of Proprie

The Busin of the above Bank in conduct. ed by the BONGKONG AND SHANGHAI

BANKING CORPURATION. Bules sy obtained on application.

FOR THE KONGKONG A SHANGHAI BANKING CORPORATION.

...

A-Q. HTYES,

Chief Manager.

Hong Kong, 13th September, 1927.

NEDERLANDSCHE HANDEL

MAATSCHAPPIJ.

(NETHERLANDS TRADING BOCIETY)

BANKERS.

Ratablished' 1894.

Kong Koop B:--11 nenaà Bond Central,

Authorised Capital'

tors

Agencies and Branches:

ALOR STAR

(Kolay "bister AMRITSAR BANGHUK KATAVIA BOMBAY

CALCUTTA

CANTON

CAWNPORE CEBU

COLUMBO

24

DAMER (Dotty,

South Manoburia)

DELHI

- HALPHONO

HAMBURO

HANKOW

KARBIN

(N. Manchuria)

ILOILO

HÙNG HÙNG

KARACHI

KLANG

KOBK

KUALA LANGSAR

Parak (F.M.B.) Foreign

KUALA LUMPUR KUCHING МАДНАБ

MANILA

MSDAN

NEW YORK PEKING

PENANG PESHAWAR RANGOON BAIGON BENABANG SELENBAN SHANGHAI

BINGAPORE

BOURABAYA TAIPING MR. TAVOY TIENTOIN TUKTO TOMUKAH (Bhuket) TUINOTAO ΥΟΚΟΗΑΜΑ ZAMBOANGA

(Philippine Islande)

General

Quilders ita,co0,000-

£1,000

and Exchange Paid-up Capital

Quilders 0,000,000

Banking business transacted. (£5,500,670.)

Current Accounts opened and. Fixed Bare Food Guilders £6,000,000- (4,839,3R)

Head Clos-(AMSTERDAM). Easter Head 0:-BATAVIA. BRANCHEN:-Baukjermonsin Bandoeag) Domhay, Cloutta, Choribou, Jeddi, Djember, Djokjakasar. KAD. Pada

The Hague Kobe Eola Badia, Palembang, Pekalong Penang Boilerdam), Pontiac Bargo Bumerang"), Bongai, Bibalgi Bumatra), Bingapore, Soaruba, Bouakarta (Solož, Tagul, Tjilatja

od Weltevreden."

"These affoss kara nato deposit bursa la let

"The Times" is anxious to see

matic normalcy depends on other con- ditions.-Reuter.

www.

COTTON MARKET

MESSRS J. SPUNT & CO.8 REVIEW

to

Britain,

The

total file. Wah Fation, ents to this

slipments recalls what expected, but the

country were comparatively smali.

Shipments for the first half of

Of course, men and women are now March are estimated at 25,000 tons equal! Everybody anys so; or, at least, The estimates of ten leading firms nobody would dare to deny it, which is of production and consumption this nearly the same thing. The trouble is Brito-Soviet trade prosper, but diplo-year average 715,000 tons and 706,000 that as soon as we stay beyond the tons respectively. This would leave

leave realm of these arbitrary and artificial only a very small surplus which might sex disabilities which are easily recog easily be turned into a deficit if the nisable equality is, to put it colloquial- world consuraption should increase aty, easier said than done. Unlike Dr. the same rate as during the past few Johnson's camel, equality is something of which it must be said that we don't months.

American consumption figures for know what it is though we can des treated fine it perfectly. Two people February are awaited with greater in- terest than usual.

on equal terms from birth may yet We

understand that the wintering tur unequal in every respect, mater- spiritually and al- season in Malaya is severe, and this ially as well as is expected to last until the end of though this may not be an argument. This will prob for inequality of treatment it does the current month. ably result in considerably smaller seet to prove the necessity for

what we sure making crops, the effect of which will be felt quality

mean by before

out Retting

to in April and May when consumption establish it in any direction.

Equal- should normally be very good.

Apart from the foregoing feature, who are most certain of "knowing what ity has a horrid way of eluding those there seems to be plenty of buying it is." The man who boasts that he is power available whenever the market

as good as you aru is very rarely as eases to any extent, and it looks though prices will reach new high good as you are. levels before there is any serious re- action. We continue therefore to ad- vice the purchase of forward deli veries in easy markets such as we have experienced last week.

Stocks London 25,441 tons. Liver pool: 4,255 tons.

Elana Aherne, a talented member April-June at of adjustment, we are free to discard. 12 d. There has been some recovery the hampering mentality of the pasting over 665,561 men and women. Ac- from this love, but the tone at the and to regard other people as fellow-cording to the summary of the report of the Banvard English Comedy Labour Bulletin," Company, who open at the Star a cer-creatures and not as separate blocks of in the "Life and closy was rather unsettled, and a cer-

what we should call over here protec Theatre on Saturday, She was tain amount of easiness is apparent. men or of women. Only those who are

tive logislation for women has had thewith Sir John Martin Harvey for Shipmen's from Malaya period in which a nauseating public po

enough to have lived through the

there of improving the February totalled 47,926 tons (32,827

economic position of women in indus several successful seasons, appear- opinion insisted perpetually that men to America, 6,450

try; shortening their hours of labouring also as Mary Lenley in "The 5,316 to the Continent, 2,172 to Japan, were men and women were women can

has been followed usually by the Ringer" at Wyndham's, London. and 961 to other countries).

understand what it means to breathe

shortening of man's hours also, while She is a sister of Brian Aherne, than the freer atmosphere of to-day, in

which both are coming to be regarded women, it is alleged, are not thereby the film star.

displaced by men. Indeed, such lawa cqually as persons.

have increased the number of joba for work laws "have women, and night served the important purpose of reduc

of served the impa

diy- night work und crediting the policy, generally.

Tho credi sama paper adds that the report sub- stantiates what the Women's Trade Union Leagae have always asserted, that laws prohibiting women's employ- ment in any capacity "are defensible only where some particular hazard' exists for women and not for men," and that night work laws need very careful drafting or they may lead to the disadvantage of some classes of

China

Shanghai, March 30.

major Cotton-During the partion of the past week, our market may be Baid to have purchased a steady direction in that fluctuations very narrow range, but

moved in a

evinced J little firmer tendency

toward the close although busi

consummated was not ness actually of any very great dimensions war- ranting any such firmness; however, the strength evinced was due mainly to the covering of short commitments in the local Exchange, on the assumption that transportation of cotton from up river ports will be cut off in the event of militaristic movements taking up a more serious phase along, the Yangtsze Vailey. Both American and Indian markets showed an easier tone during the week under review, but such hard- any ly affe

affected the local market

The

great es in general who, being fair- Deposits received for 1 year or short-ly well supr

I supplied with the foreign fibre

er periode at rates which will be quot- for several months ahead, are now ed on application,

showing no kecaress to absorb any big A. H. FERGUSON, lets of the local staple, but no sooner

the Manager. internal political disturbances shall Hong Kong, 8th January, 1929. have Asstomed

peaceful aspect. a more it may be reasonably expected that more seasonable demand for Mills' out- put in general will evolve, and in which event the indications would taeline tu purchases being made at such time on a conservative basis and which would eventually prove profitable provided no untoward modifications in the foreign. fibre affect the trend of our market. Yarn

THE BANK OF TAIWAN, LTD. (TAIWAN GINKO)

Labim Bankers National Provincial Bank Ltd HEAD OFFICE: Taipeh, Formosa.

Correspondata all over the world

Banking busins af ovary descriplica teansacted.

O. ETEENSTRA.

Hot Kogi 2015 dunk, 183

Mazinger.

BANQUE DE L'INDO - CHINE.

HEAD OFFICE:

96, Boulevard Haussman, Paris. Subscribed Capital..Fra. 72,000,000.00 Paid-Up Capital...Fra, 68,400,000.00 Reserve Funds • - - . Frs.102,000,000.00 BRANCHES: Bangkok Назой

Quinhua Battambany Hong Kong Saigon

Canton

Ga tho Mengtze Shanghai Naza-Dinh Singapore Dijbouti Noumea Tientsin Fort-Bayard Papeete Tourane

Peking Vinh Haiphong

Bankow Pnom-Penh Yurmanfu

Pondicherry

DANKERS:

Incorporated by Special Imperial Charter, 1899.

Central Bank in Formosa., Bank-Notes issued

..Yen. 45,000,000 Average amount

•

We have bad an easter market dur- ing the past week, with a recession in prices from Tis.2.00 to Tls.3.00 lower than last week's level due to very small terior the

demand from the made in consequence

renewed

In

turbulent

state

in-

of

of

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

Osaka.

Karenko, affairs FORMOSA-Giran, Kagi,

the country. How- Keelung, Makong, Nanto, Shin- chiku, Taichu, Tainan, Takao, ever, the prices for Japanese products are rather firm owing to the general Tamsui, Toen, Heito, Taito. CHINA: Shanghai, Hankow, Amoy, feeling that the boycott against Jap- anese goods will be called off soon, Fooehow, Swatow, Canton OTHERS: Hong Kong, Singapore, evolving a large volume of business Batavia, which was done chiefly on a specula Soerabaya, Semarang, Bombay, Calcutta, London, New tive basis among the local yarn mer- York, Dairen

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

10.

The Bent has Correspondents in the Commersiel Centres in the Eurepein Contionat, Bunia. - churis, Telegio, Japan, Indo-Chint, Sise, Indie, IN FRANCE: Comptoir National Philippine Islands, Java, Africa, U.8.4., Australia, d'Escompte de Paris; Credit Lyonnais; forest allowed on Jurrent Accounts, and Pized Banque de Paris et des Pays-Bas Depoise at rates who will be quoted on applies

iled. Deposits in Yen sen be accepted Credit Industriel #t Commercial;;

K. NAGURA, Societe Generale.

Manager.

IN LONDON: The National Provin- HONG KONG BRANCH: cial & Union Bank of England, Ltd.;) 3. Des Voeux Road Central. Comptoir National d'Escompte Hong Kong, 19th January, 1999.

Paria; Credit Lyonnais.

de

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

THE BANK OF CHINA. 行銀國中

interest allowed, on Carrent Ac-(Specially Authorised by Presidential

counts and Fixed Deposits according

to arrangements.

Every description of Banking and Exchange Business transacted.

Safe Deposit Boxes to let

Mandate of the Republic of China-

on the 22nd of November, 1917).

Authorised Capital

Paid-up Capital

.$60.000,600.00 18,278,600.00 9,629,425.24

chants.

AMERICAN COTTON

MORE ACTIVE WHEN MAIL LEFT

S

The New York market is hesitat- ing. The undertone is steady, Senti- ment in the trade is bullish awaiting the official Malay export and the February consumption figures.

imminent:

March

Many Complications

It is not, therefore, going to be necessarily as easy to place men and women upon an equality in fact as it is to agree in theory that they should be equal. "You have made your castle in the air," said Thoreau; "now build. But all sorte the foundation to it."

of coraplications spring up directly we proceed to do this; arm the issue be- comes confused, not because we do not agree that we want men and women to

equal," Dut ficiently thought out what equality as because we have not suf.

women.

Human Side of the Question

I have not as yet this very valuable report before me and summaries are not good evidence. But, although in- dustrial conditions vary in different canntries, even this semary is anough to suggest that so careful an Inquiry into the rolative positions of men and women in industry should be studied by all who are concerned in factory legislation everywhere.

SHANGHAI SHARES

LIPTON'S CAPITAL

REORGANISATION OF THE BUSINESS

The "Daily Mail" understands that two eminent accountants. Sir Gilbert

Garnsey and Sir William McLintock, have been consulted with regard to the financial part of the reorganiss- tion of Lipton, Lal, the old-estab- lished tea and provision business.

It

expected in the City that the schome for a reduction of the capital will be a drastic one.

No dividend has been paid on the Ordinary share capital £1,250,000 since, the 10 per cent. of 1923-24 and the accounts for the year ended March 81 last showed a loss of £88,598.

In Septembar, 1927, the board was Sir John Ferguson be- reconstituted,

chairman. coming

In

ig- report sued fast June the

stated directors that considerable progress had been business, made in reorganising the and that the directors' proposals re- garding a reduction of canital would be announced after the business had been re-established on a sound foot- ing. “A considerable time must necessarily elapse," it was added.

their

t

COTTONS A LITTLE WEAKER: RUBBER DISAPPOINTING

Industriels.Cottons opened easy after settlement and weakened slight- ly during the day. Ewo Mills were done at Tia.12.50 and 7.12.60 cash Another New York correspondent

Shanghai Lands, Decks, and Tls.13.10 and Tls. 12.90 · June.

BRAZILIAN TRADE and Trams cables that it is persistently rumour-

strengthened somewhat and bayers ed that an increase in tyre prices is between men and women really in-

Voives. It is reported that

A case in point is the differ- the

ore in the market at Tla,172, Tls.118,50

According to advices received by the and ence of opinion that has arisen in some Tls.23.10 respectively, Omnibus Bank of London and South America, automobile programme of tyres calls for consumption at the of the organised candies of women in Eave also made an advance and busit, the figures of Brazil's overseas

England concerning "rotective legisla-ness was recorded at Tls,13.50. trade for the period January rate of 45,000 tons.

Rubber London and New York November, 1926, disclose a balance in tion in industry, Both sides to the dis- pate

are probably agreed as to the ad-prices are again disappointing the favour of exports of £7,327,000, as visability of such legislation being public and shares weakened here sev against * balance of £7.139,000 in the Anglo-Javas were done same period of the previous year made to apply eventually to all work- eral points. ers irrespective of sex; but they differ at Tls.7.75. Zlangbe at Tls.7 June The volume of exports had increased widely as to whether it is better. to and Tebong at Tls.2 for June. The by 71.314 tons, the total value baing begin by securing it for women, on the market closed easy. Quotations: Lon- £38.992,000, against £79,536,000 In chance of its being extended later to don 10% d. March; Singapore 36 1927. Importation had increased by men, or to oppose its adoption for March. London and Liverpool stocks: about 285,856 tons, the total value women and so take the risk of secur- 81,989-up 1,447 tons.

baing 281,575,000, against £72,397,000 nobody

Greyhounds are still occupying the in 1927. attention of the speculative polle and

Of the total exports, coffee account. S.L.Ga. Ordinary were done at $22.30 cd for £63,726,000, against £55,138,000,

aletly in demand but their report volume exported decreased by 910,000 dannointing.

bags, the total being 12,726,000 bags, Debentures S.M.C. 6 per cent. were compared with 13,636,000 bags in the dere at Tis:94, 7 per cent. at Tia.93 corresponding period of the previous and 8 per cent. at Tis.102. Telephone year. The average price of coffee ex- 7 per cent. were also done at Tls.98 ported for the eleven months is shown The market is steady and Debeatures as Rs.204,000, or £5 per bags an coming out are readily absorbed. against Rs.1.69,000, or £4 29. in 1927.

HANKOW TRADE

Business conditions in Hankow dur- ing the week ending March 20 are described by the British Chamber of Commerce, Hankow, as follows:-

Imports and Produce Piecegoods: There has been a cer- ing it for not difference of opinion tain amount of inquiry during the and both sides have so good a case week under review and little busin

ness has been brought to book. Non paper that it is difficult for ordit and $22.75 June, French Race Coarse an increase of £7.788,000. whilst the

is intensely interesting to

tois doubt more business would have been aty nople to form any opinion on

matter-it is

the

done had dealers nct been somewhat find that the same contreverey is also nervous on account of the uncertain acute in the United States, where the political situation. Clearances again National Woman's party are opposed showed an increase over the previous to separate labour laws for woman on the ground that this is subversive of their equality with men in industry,

Sesamum seed: The local market Tls.7.60 is now being quoted; there has been easing off somewhat and

are buyers from Europe at 22/16.

Antimony Regnhis: The,

Chine market is slightly firmer and dealers are holding out for Tls.217.000, whilst the Home markets have also been dis- playing a somewhat firmer tendency.

Wood vil: The Fankow market is a little easier at Tla.34.30, on which basis some business has been done for export. The American as well as the European markets have also been de- to clining and tank-car business America is reported at 124 cents.

Gallnuts Plumgalls are nominally quoted at Tls.22.00, whilst Usuals, owing small applies, have-alsq_ad- vanced to Tls. 18.20

Cow-hldog:-The tendency of the local market has been very much stronger and prices have advanced to TIB.47.50 for Seconds. The Home markets. on the other hand, show no signs of an improvement.

New York, March 12. The market has been much more active during the last week, and the upward movement has made further progress, values being about 20 points higher than those ruling week ago,

The undertone continues

very steady, and whilst there is as yet no pronounced shortage of contracts, it is noticeable that the stock of con- tracts is diminishing with the lifting of hedges. Trade

reports from Manchester continue on the whole

to show im provement, although the demand dur- ing the past week has not quite de- to the extent which was ex- veloped pected 2 weel: ago.

The inquiry from China has been maintained, and prl- vate advices from that quarter are encouraging. The demand from India fall off a little, no doubt on recount The consumption during the past of the disturbances in Galcutta last half year compares unfavourably with 4, Queen's Road Central. week-end, but latterly there has been that during the corresponding aix months last season. It should, how- Branches and Sub-branches all over a marked increase in inquiry. THE YOKOHAMA SPECIE BANK, China, and Correspondents in Europe, Cable advices regarding textile ac ever, be borne in mind that the con- America, and other parts of the world. tivity in America make very satisfac-sumption during the first half of last "season was a record, and that a nume

"Quebec," says Sara Hamilton London Bankers: The National tory reading, and the Textile Institute Provincial and Union Bank of England, figures for February are. bullish as ber of spinners are employing East Birchall, in "Country Life," "goes they report the ratio of sales to pro-Indian to a larger extent than before.musher mad." It is 50. Go to Ltd.

duction as 116.5 per cent., with stocks Consumption during the second half Quebec between February 21- and of last season showed a material de- crease on the first six months, but any year. All you will hear is with spinners takings so far this sea-dogs, huskies, mushers, St. God- son, and with the present state of dard, Nolan, Chevrier, Seppala textile activity, particularly Da score of other names.

br

You will America, it is reasonable to expect look at the big board in the Chateau that consumption during the second

A. LECOT,

Reserve Fund

Manager.

HEAD OFFICE: PFKING.

Hong Kong, 28th Nov, 1928.

LIMITED.

Established 1880.

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

..Yen 105,500,000

Head Office:-YOKOHAMA.

Branches and Agencies at:

Newchwang

Alexandria

Batavia

Bombay

Buenos Ayres

Calcutta

Canton

Changchun

Dairen (Dalny)

Now York

Osaka

Peking Rangoon Rio de Janeiro Saigon San Francisco

Fengtien (Mukden) Seattle

Hamburg

Hankow Harbin

Hong Kong Honolulu

Kai Yuen

Karachi

Lender

Semarang Shanghai

Shimonose Singapore Soerabaya Sydney Tientsin Tokyo.

Labe

Teinanfu

Los Angeles

Tringtau

Lyona

Vladivostok.

Manila

Nagasaki

Nagoya

(Temporarily

closed) Interest alloyed on Current As- counts.

Deposits received for fixed periods at rates to be shitained on application,

EL MORI

Manager. Hong Kong, 11th March, 1928, 9

HONG KONG BRANCH:

The Guaranty Trust Company of New York.

New York Bankers:--The Irving National Bank.

The Equitable Trust Company of New York,

Interest, allowed on Current Ac counts and Fixed Deporfts. Terms on application.

Every description of Barking Busi- |ness transacted.

Loans granted on approved secur- ities.

change.

showing a reduction of 42 per cent.. and unfilled orders so increase of 7.2 per cent.

the January 31, against 2,867,000 a year ago and 2.982,000 two years ago. Consumption

half of this season will at least equal, lobby whereon the odds are shown, If not exceed, that of the first six and you will wonder what it is all month. The prospect is therefore about. And then perhaps an

are

MUSHER MAD

You scream

Special facilities for Home our review of the 26th vita fort- lions or more, so that the Federation a corner and tell you how on the next; the heroes of Nome, the his name as he pushes past. You

SHOU J. CHEN,

Manager.

THE BANK OF CANTON, LTD.

Established 1912)

Lancashire Spinners

The "Financial Chronicle" reported on Saturday that heavy rašus and overflows in the Eastern sections of the belt, have delayed farmwork, bat the 'weather is now better, with pome complaints of dryness in Texas.

The Mississippi OUT! friends will remember that in for a total consumption of 15% mil-enthusiastic soul will get you in panting home, the next and the abero and a knight.

night ago we said "Watch the Mis-figures are certainly bilish. afssippi

b. It is interesting to note in

third day of the last derby, the trail dogs from Le Pas, fuzzy hold your breath as the minutes A this connection that the Mississipp Lancashire spinners of American man who was considered in the run animals who know the Quebec tick before the next arrival. has now overflowed in several places cotton are to be belloted on aproning only for second place was woods trails and teams of dogs team of mastiffs, greyhounds or in Arkansas.

posal to run the mills only four,

days The weekly statistics are again a week during April. The support held up by a freight train so long bred, reared and trained for this mongrels, swings round a corner very favourable. The distribution, of of 80 per cent of spindles is neces-that his dogs shivered and began one great derby, dogs you wouldn't into sight. Their time is close. American cotton to world spinners sary before

to stiffen, but won the 120 mile want, worth hundreds; dogs you They have one minute in which to three day grind by a short minute could love, but who only know a reach the goal, and win the first last week was 872,000 bales, against be adopted organised short time can 340,000 the previous week and 271,000 The National Fertiliser Association or so, and how he was cheered and trainer's hand, and will give lap. You too, are musher mad.

The total so far this sea-reports a decrease of 24.4 per cent. year. son is over half a million balea larg in fertiliser sales in February comchaired, and how they come, these allegiance but to him; dogs in You watch the bulletin boards with mushers, from all parts of the fours and fives and sixes, train excitement and wordily exchange than during the corresponding pared with last year.

The market continues to broaden North Country with their dogs ing eager, panting dogs with forty the gossip of the racing stables, Blow, period last season. Banjo New Cork Ind Eau France According to the returns of the In- both here and in New York, and in and honads and huskies. You miles behind them and eighty be Then, when the great exhibition of ternational Spinners Federation for view of the continged delay in new will pick your dogs, Siberians, fore. Then you too are musher strength and endurance is over, the half year ending January 81, crop preparations and of the bullish the consumption of American cotton statistiest position, we maintain, our Alaskans, or just plain dogs, and mad, and the rough, shaggy in you can perhaps settle down to was 7.618.000 bales, compared with opinion that prices should work high- before the last entrant has started davidual in fur and wool, whose enjoy Quebec herself and those 7,181,000 31 the previous half year er between now and May. We there on the first lap on the first day, moccasined feet had not yet fitted winter sports in which you are and with 8,226,000 in the correspond fore continue to recommend our spin the fever will have caught you into your own ideas of things be permitted to take e personal if not stocks are given as 2,958,000 bales on ments in fat markets. ing period last season metal mill her friends to secure their require- You will see the first team drive coping, is invested in the aura of more strenuous part

Head OfficeHong Kong.

Kokkerival. Capital (B‚K, Curency) ...$11,000,000

Paid Up Caplial times

BRAKOHES

Carton, Saaghal Hanks

LONDON: DARKERS 1

CORRESPONDENTS

8,664,300 ,800,000

In all peooi pal of World Foreign emlages and: banking kesisem of Stery Coscription wanasetada

Safe Deposit Bern (varlony know) ak" Kymely

LOOK POONG SHAN,

pid Chlef Manage

Hong Kong 19th February, 1927

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