1929-08-29 — Page 2

B

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorised Capital

Jased and Fatty Paid-up

Inserva Fund-

Kern

Hilret

$60,000,000

$2,000,00

£4,000,000

--------------... $14,000,00

Reservo Lability of Proprietors... $20,500,200

LEAD OFFICE: HONG KONG,

BOARD OF DIRECTORS!-

N. S. Brown, B

Chinnan.

W. 1. fielt, Eva, Deputy Chairman.

Aan. Mr. B. D. F. Reilu.

A. I. Campton, Eng.

M. T. Jakauna, Eig.

B. Lander Lesli, Eeg.

ANOT

DANOKON

BATAVIA

HOM BAY

CALCUTTA CANTON CHEFOO

COBAIN DO

W. L. Pasienden, Erg.

T. 2. Feros, Exq.

J. A. Plaster, Esq.

4. P. Warran, et Chief Manager.

Hou, Mr. A. C. “Hyonə.

DARKN

VUOCROW

ULPHONG

-HAMISUNG HANKOW

HARMIN

HONOKEW

FLCILO

11011

JORGRE

KODE

KOWLOON

BRANCHES

KULTA LUMTUR

LONDON

LYONS

KALAGGA

MANILA MOUKDEN NAGASABI NEW YORK

PEKING

PENANG

BANGOON

SAIGON

SAN FRANCISCO

SHANGHAI

SINGAPORE.

SOURAUAYA

SUNDRI PATANI TIENTSIN

TOKYO

TSINGTAO

YOKOHAMA

Current Accounts opened in Local Currening

and Fixed Deposits reprived for our four or starter periode in Local Currency and Starling oler which will be quoted on spplication. Hong Hong 24th May, 1024.

HONG KONG SAVINGS BANK.

The Business of the abovu Flankt u conduct- od by HONG KONG AND SHANGHAI BASKING CORPORATION. Hulen sy be obuined an application,

FOR THE HONG KONG & SHANGTAI DANAING CORPORATION.

Ꮒ . G. BISNES,

Chief Manager.

Hong Kong. 13th September, 1927.

NEDERLANDSCHE HANDEL - MAATSCHAPPIJ, N.V.

NETHERLANDS TRADING HOCLETY)

BANKERS.

Established 1924.

Hong Kong Office:-1 Quess's Road Central.

.......... Quildera 260,000,000.

(£12,500.

Authorised Capiḥa'

Qui-Up Capital

Rewrve Fund

....................... Quillan 11,00030

(00,000,347.) Guildora 40,1500,DA). (£8,ING,¿MA.)

Head live¡AMSTERDAM'). Eastern Head Office:-BATAVIA, DRANCHEN:-Band;ermasla. Bandong'). Bombay, Calbucs, Choribou, Djember, Djak jukaria) The Jaque'), Juddah, Bute, Kota-Radje, Mukuses, Medan, Padang Paleta beber Pekalongan Panang Pontius, Rangoon, totterdam), Kadareng"), Shungbai, Sitoiga (Suiza), Singapore, Barabain, Soerakarta (Solo), Tegal, Tillatjar and Weltevreden.")

* Thus offices bavo safe deposit boxes in Jutu Leadus Baator:-National Provincial Bank Ltd. Forrespondenta all over the world

Banking business of every description transacted.

F. M.

Long Kong 7th May, 1029.

BENLO,

Manager.

BANQUE DE L'INDOCHINE,

HEAD OFFICE:

$6, Boulevard Haussman, Paris.

Subscribed Capital .Frs. 72,000,000.00 Paid-Up Capital...Frs. 68,400,000.00 Reserve Funds ....Fra.102,000,000,00

BRANCHES:

Bangkok Ilong Kong Quinhon Battambang Hue Salgon Cantho Miengtze Shanghai

Singapore Thanhen

Canton Djibouti

Nam Dinh

Neumea

Fort-Bayard Papeete Tientsin Haiphong Peking Tourane Hankow From-Renh Vinh Hanoi

Pondicherry Yunnanfu BANKERS:

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

Credit Industrial et Commercial; So-

ciete Generale.

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

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

Interest allowed on Current Ac- courts and Fixed Deposits according to arrangements.

Every description of Banking and Exchango Business transacted.

Safe Deposit Boxes to let.

A. LECOT,

Manager.

Hong Kong, 1st May, 1929,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853. HEAD OFFICE: LONDON. Paid-up Capital

Reserve Fund....

Reserve Liability of Proprie

THE CHINA MAIL,

£3,000,000

£4,000,000

tors

.£3,000,000

Agències and Branches:

ALOR STAR

KUALA LUMPUR

[Mumy State)

KUCHING

AMRITSAR

MADRAS

FOREIGN TRADE

NEW YORK

BANGKOK

BATAVIA

BOMBAY

CALOUTTA CANTON

PAWNFORE

GEMM

COLUMBO DAMEN (Daly

Hath Ma botaj DELHI

HAIPHONG

(N. Manchuris)

HAMBUNG

HANKOW

HABBIN

HONG KONG

ILOILO

KABACIU

KLANG

TPO

KOCK

KUALA KANGSAR

MANILA

MEDAN

PERINO

PENASA PESHAWAR RANGOON SAIGON

SAMARANO

SEREMBAN SHANGHAI

SINGAPORE SOURABAYA

FAIVING

(FMS) TAVOY TIESTSEX TOX$0

CHINESE FIRMS TAKING A SHARE

COMMERCE

CHANGES OF TIME

Contul Samuel Sokohin, Foochow, states in Commerce Reporis:

From the early history of foreign trade in China to the present time, the bulk of both the import and ex- port has been in the hands of for. eign Arms. Although China's total foreign trade advanced from approx

in 1845 (thres imately $65,000,000 (Philip Inland}

years after the first treaty was sign- definite General placing that trade on a

TONOKAH (Shakot) TSINGTAO YOKOHAMA ZAMBOANGA

Parak #F...)|| Foreign Exchange and Banking business transacted.

Current Accounts opened and Fix ed Deposits received for 1 year or which will shorter periods at rates be quoted an application.

A. H. FERGUSON,

Manager. Hong Kong, 8th January, 1929.

THE HO HONG BANK, LTD. (Established 1917.)

Isqued

Authorised

Paid-up

Shareholders

CAPITAL.

.$20,000,000

8,000,000

4,000,000

4,000,000 2,219,000

Reserve Liabilities of

Surplus

HEAD OFFICES SINGAPORE. Branches, Agencies and Correspon- dents in the principal cities of the world.

Every description of Banking and Exchange business transacted.

TAN ENG H1001,

Manager. Hong Kong. 15th May, 1920.

THE BANK OF TAIWAN, LTD. (TAIWAN GINKO)

HEAD OFFICE:--Taipeh, Formosa. Incorporated by Special Imperial

Charter, 1899.

Central Bank in Persons Bank-Nutra issued Average amount. Yep, 40,0££,000 BRANCHES AND AGENGINE: JAPAN: Tokyo Yokohama, Kobe, Cann FORMUSA:-Uiraz, Kag Karenko, Festung.

Taoui, Toan, Hrito, Taito. CHINA-banghai, Hankow, Amoy, Frechow,

Swatoe Cantoo. OTHERS--Houg Ing Singapore, Bours laya. Caloste, Batavia, Bambag,

Take ante, Blinchiku, Taichu, Tasă,

Semarang,

London, New York Daire

LONDON, BANKEBS:

The London County Westminer and Parr's Bank.

The Bank has Correspondente in all tha prin cipal Commercial Centres throughout the world.

E. NAGURA,

HONG KONG BRANCH

Hasszer.

5. Doe Vocus Read Central, Hong Kong, 10th January, 1920.

legal basis) to $1,375,000,000 in 1327, the number of Chinese firms parti- cipating in this ever-increasing trade has. til very recently, remained

Railway Chairman

William H. Williams, chairman of the board of the Missouri Pacific Rali road, reports a net income for the six months ended June 30 last, of THE BANK OF CANTON, LTD. $3,586,083 after all charges. The net

Established 1912.

Head Office-Hong Kong.

Authorised Capital (H.E. Curcaney) ...$11,000,000. Paid Up Capital

8.604 200 Reserve Fund

600,000

BRANCHES. Conlon, Shanghai, Haskow,_Sweław, Bangkok, New York and San Tranda

LONDON BANKERS-

The Lloyd's Bank Limited. Correspondents in all principal cities of the

World

Foratga xabanga and banking business of avery description transacted.

Sota Deposit Havn (arious sizes) at a yearly repta o from $5 to $10.

LOOK. POONG SHAN,

Chief Manager. Hong Kong, 19th February, 1997.

THE BANK OF CHINA. 行銀國中

HEAD OFFICE: PEKING.

for the period compares with a net of $2,607,916 in the corresponding period of last year,

practically stationary at little above the zero mark,

Reason for Non-participation Although the number of American Arms in China increased from 11 in

1842 to 24 in 1888 and to 600 by 1925, Chinese firms handling foreign iraporta and exports direct remained negligible for three reasons. First, the economic organisation peculiar to China offered greater inducements to Chinese traders when they confined their activities to domestic trade; de: second, there were few Chinese who could cope with business correspon- or other Western dence in English languages, not to mention cabled communications; and, finally, there were equally few Chinese with any comprehension of the machinery and processes of foreign trade.

HONG KONG BRANCH: 4, Queen's Road Central. Branches and Sub-branches all over China and Correspondents in Europe, America and other parts of the world.

London Bankers: The National the business of old-established

(Specially Authorised by Presidential

Less than 10 years ago the man- Mandate of the Republic of China

leading American banking ager of EL on the 22nd of November, 1917.)

institution in China estimated that

than 2 per cent. Authorised Capital

of the not more -$60,000,000.00

letters of credit opened for imports Paid-up Capital

18,278,600.00 Reserve Fund

with his institution were placed by 8,629,425.24 Chinese firms. In recent years, how- ever, in any discussion of the state of foreign trade in China, reference is invariably made to the keen com- petition and incressing importance of Chinese importers and exporters. The establishment of Chinese ectton a serious effect mil's also has had

foreign Arms,

particularly those Provincial and Union Bank of Eng-whose textile

transactions

with land,

Euros formed the principal basis of The Guaranty Trust Company of their existence in China. New York.

Lid

New York Bankers: The Irving National Bank.

The Equitable Trust Company of

THE YOKOHAMA SPECIE BANK, New York.

LIMITED.

Established 1880. Capital (Fully paid-up) Yen 100,000,000 Reserve fund............... Yen 105,500,000

Head Office:YOKOHAMA.

Branches aud Agencies at:

Newchwang

Alexandria

Batavia

Borabay

Buenos Ayres

Calcutta

Carton

Changchun

New York Osaka Peking

Rio

Rangoon

de Janchro Saigon..

Dairen (Dalny) San Francisco Fergtien (Mukden) Seattle Hamburg

Hankow

Tarbin

Hong Kong Honolulu

Kat Yuen

Karachi

Kobe

London

Los Angeles

Manila

Lyons

Nagasaki

Nagoya

Semarang Shanghai Shimonosehi Singapore Sperabaya

Sydney Tientsin Tokyo

Tainamfu

zostek (Temporarily

closer)

Interest allowed on: Current - Ac- counts,

Deposits, received for fixed periods

at rates to be obtained on application,

EL MOET

Manager Hong Kong 11th March, 1929.

Interest allowed on Current Ac- counts and Fixed Deposita. Terms on application.

Contrast of Japanese and Chinese. In any discussion of the dieplace- ment of foreign trade in China by native firms, the developments which took place in Japan naturally came to mind. In the period following the opening of Japan by Commodore Perry, the Empire's foreign trade Every description of Banking Busi- was entirely in the hands of non- ness transacted.

Japanese firms, but a continuous pro- Loans granted on approved secur- cess of internal improvement along ities.

modern lines and the energetic efforts Special facilities for Home Ex-of the Japanese Government to pro change.

..

:: NOTICE TO SHIPOWNERS, MASTERS & AGENTS.

AND

FINANCE.

mote industries early resulted in a SHOU J. CHEN, great increase in the number of Manager. Japanese firms equipped to conduct foreign business directly. Generally, now, the foreign trade of Japan is largely the hands of great Japan- ese trading companies controlled by important Japanese family groups. In China, however, neither the in- ternal development of the country nor paternalistic encouragement may be said to be the cause of the grow ing participation of Chinese firms in foreign trade. The explanation is to be sought rather in the state of trade generally in China and in the economic factors. which are forcing changes in China's Industrial and commercial life.

in Trade.

The Yuen Wo Seamen's Institute always has men available to ship as watch- men, seamen, &c.

Our men are employed by the leading passenger lines. We guarantee satis faction.

Please phone or call: K.661 No. 2. Saigon Street, Yaumati or

C2560 No. 36, Tung Man Street

commerce of figure largely in the China, silk buing the most important single export commodity from Shang hai. In a review of the Shanghai exchange market dealing inter alia with the silk trade,

the following comment appeared in a recent issue of prominent foreign newspaper published in Ihat eity:

FLOUR IMPOSTS

NEW REGULATIONS FOR KWANGTUNG

AWAITING APPROVAL

Canton, Yesterday. The Kwangtung Duty Re-adjustment Committee recently drew up a set of regulations governing the imposta on imported four, which regulations were cabled in Mr. T. V. Soeng, the Minister of Finance, for his approval. The fol lowing are some important parts of the regulations:

flour

All machine-manufactured either imported from abroad or ande locally is subject to these regulations, and to the payment of impests accord- ingly with the exception of flour for which duties had already been paid.

A Burent and sub-stations will be

established at places or districts found suitable by the specially appointed offi- cor of the Ministry of Finance for the purpose of levying flour imposts, or the collection of such imposts may be entrusted to the native castoma.

One factor of much interest is to be found in the fact that during the current silk season fire Chinese con cerns have made direct exports of raw silk to foreign countries amount- ing to over 5,000 bales of raw silk,

filatures. The.

first mostly steam two concerns making such shipments are silk spinners and weavers, the third owns a flature, the fourth is not manufacturing silk, although one of its owners is the proprietor of a silk Alature. The last named are The Bureau and sub-stations shall merely exporters. Most of these, be named after the districts where they firms. have

ave had members

of their

are established, and shall come under staff staying for some years in the management of the aforesaid spc- Europe studying the requirement of the market there. Lately, similar cial officer.

Recent Changes While it Ais questionable whether the withdrawal of foreign commission houses, of foreign importing and ex- porting houses, and of the small foreign firms in China will take place as rapidly as was affected in the elimination of such intermediary agencies in Japan, two events record- ed within recent weaks indicate the trend of foreign trade in China. One pertains to the silk export and the other to the automobile import trade. Both are commodities which

the

It

measures have been adopted with re- ward to the American market. gard to may be expected that the activities of these concerns will grow to a con- siderable extent.

The 8,000 bales mentioned as hav- ing been exported by the five Chin- ese firms constitate approximately 10 per cent. of the total silk shipments from Shanghai during the first half of the current season, from January 1 to May 30.

Policy of Leading Manufacturer

Practically simultaneously with this record of the direct exportation of raw silk by Chinese concerns, the re- presentative of a leading American manufacturer of automobiles private- ly announced that it was the settled policy of his firm to place agencies in China with native firms where conditions permitted, and that

དྷ་ .9 between a Chinese and a foreign Applicant for a local agency a Chin- ese would be selected, so long as the general considerations involving the appointment of agents vere met. The statement of this policy was coincident with the withdrawal of the agendy for a popular make of Ameri- can firma, which, on the whole, was reported to have satisfactorily pro- moted sales of the motor car during the tenure of the agency for a period of less than six months.

Effect on Smaller Foreign Firms That a leading American manufac turer should

deed significant this holley is in-

While it cannot

be said that such Instances of direct participatio

in fore

foreign trade by firms announce the doom of

母

The officers in charge of the bureau and sub-stations shall be appointed by the aforesaid special offeer and their names recorded in the Ministry of Fin-

ance.

Mode of Reckoning

The imposta on imported flour are levied according to the bags of flour. Each bag is reckoned not to contain over 50 lbs. or 37 catties (Chinese weight).

The impost on imported flour is 10 cents. (Shanghai cey.) per bag. When flour is imported, the landing duties must be paid and receipts given before the flour is permitted to be landed.

When flour is transported to the in- terior, a transport permit will be issued, and notice of the transport per- mit and the duty receipt will be sent by the said special offer to the sub-sta-

tiong.

Should any portion of the flour for which imposts have already been paid either in the province or other parts of China, be transported to the interior of the province, no further imposta shall be paid-Canton News Agency,

LIKIN TO GO

DECISION OF KWANGTUNG GOVERNMENT

NO GAMBLING TAXES

Sixteen different taxes and special export duties as well as the total Hikin taxes will be entirely abolished with- in the next year, according to the orders of the Ministry of Finance.

the foreign firm in China, it is not

Canton, Yesterday. In an interview this morning with unlikely that they foreshadow the

Kee-mo, our correspondent gradual disappearance of the smaller Mr. Fan American

and

European Ims in the was informed that the following taxes autports the small Chinese

hinese-ports.

will be abolished:--- The lack of modern scientific and engineering knowledge in the Chin ese will

neccssitate for long Shanghai and time the presence in two or three other cities of large American and European firms with organisations prepared to give advice and assistance to the Chinese pur- chaser of Western machinery and manufacturers; otherwise, it appears that the tendency will be to place agencies in the hands of Chinese Arms of superior financial standing and possessing other qualifications of equal merit with those of the for eign firm.

"KALI GLAGAHS "

Output

Taxes on cocoona will be abolished. The duty on silk products will be re- considered in the interests of the in- dustry. For the purpose of taxation, silk will be divided into two classes. First, for internal consumption, silk will be taxed as luxury; secondly, for export, as an agricultural product. This tax will come into effect in Jan uary of next year.

The gambling taxes will be abolish- All ed according to fixed periods. forme of unlicensed gambling are now. forbidden, and by 1931. no more gam- bling will be permitted in this pro vince-Canton News Agency.

NEW ZEALAND AND C.O.D.

of Kali Glagah (Java) Rubber and Produce Company was 703,980 lb. rubber realising 9.854. per pound, London (last year 465,717 10., realising is. 0.98d. per pound). Pro- at for year ended March 31, 1929, was £16,127 (last year 59,710), which with amount brought forward makes £22,553. Deducting amortisation re

The Postmaster-General announces serve, general reserve, buildings and machinery reserve and Dutch income- that, at the request of the Now Zea- tax £2,349, there is £19,703. Direc- land Government, the Cash on Deli- very Service with that country will tors recommend dividend of 15 per

5

on cent.), be withdrawa

In October 31. per cent, less tax (last year leaving £4,927 to be carried forward,

consequence, cash on delivery commission subject to

to Eastern parcels for New Zealand will be ac staff and remuneration to directors. cepted after that date.

no

Produced 15 tons of milk

Strathmore Sylvia, prize pare-bred Holstata from the Canadisa Paciffe Hallway Experimental Farm at Strathmore, Alberts, held the record of all Canade, last year for her, production of 29,371 pounds of hilli and 1262 pounds of butter. She had her day-out at the Calgary Exhibition and Stampede at Calgary recently, when with others from

· the tierd of 600 at the farm she was edmired by, thousands of vistDOTK Just to Impress on them what she find dolls, 170 eight-galion” min cans were, arranged around the entire Canadian Pacifle, Holstein ex- hibit, these bêing the number required to hold the milk Sytris pro- dused. 1267 one pound butter cartons format an arch at one end, emphasizing her buttér production;

THURSDAY, AUGUST 29, 1929.

THE TYPHOON

THE OVERLAND -

CHINA-

MAIL

containing

A COMPLETE ACCOUNT

OF THE

TYPHOON

will be published on the morning of

AUGUST 30th

ORDER YOUR COPY EARLY TO AVOID DISAPPOINTMENT.

SINGLE COPY

25 Cents.

INCLUDING SPECIAL COLOURËD

PICTURE SUPPLEMENT -

No. 3A, WYNDHAM STREET – PHONE C. 22.

ORDER NOW

"THE OVERLAND CHINA MAIL."

REPULSE BAY HOTEL.

DINNER DANCE ATTRACTION

SATURDAY, 31st AUGUST 1929.

-NINA

and JACQUES

→ dancers

assisted by an augmented orchestra

will give Exhibitions of the

very latest dances,

The Argentine Tango, Dance to Death, The Latest Blues and Ballroom Dances.

Dinner $4.00 per head.

Tables may be booked at the Hong Kong,

Repulse Bay, or Peninsula Hotels

and by telephone Central 776,

THE HONGKONG & SHANGHAI HOTELS, LTD,

AT PRESENT, OUTDOOR WORK ONLY *******

K. FUJIYAMA

PHOTOGRAPHER.

NIGHT PHOTOGRAPHY AND EN- LARGEMENTS A SPECIALITY. ENLARGEMENTS CAN BE MADE FROM ANY PHOTOGRAPH. NEW, OLD OR FADED.

WEDDINGS AND GROUPS A FEATURE

SPECIAL ATTENTION GIVEN TO DEVELOPING, PRINTING AND ENLARGING AMATEURS” PHOTOGRAPHS AT A VERY MODERATE CHARGE.

PROMPT DELIVERY GUARANTEED.

I can give you as good results as any Photographer in the City and better than 95% of them TEMPORARY OFFICE

3rd FLOOR, 117, PRÁVA EAST, HONG KONG.