2
HONG KONG AND SHANGHAI BANKING CORPORATION.
Authorised Copil #56,000,000 Juund and Polly Pild-up ... $20,000,00 Her Pit-
Sterling
Ailyn
£6,000,000 .................$14,000,000
Serve Liability of Proprietora $26,190,000 HEAD OFFICE: HONG KONG.
OARD OF RECTORS :-
N. S. you. Eay.
Chairman.
W. FI, Dell, Bar. Deputy Chairman.
Hot. Mr. D. D. P. Baith.
A. . Coreples, Eng.
M. I. Jahan, Eng.
B. Lander Towls, Esq.
AMDY
BANGLOI
W. L. Fastendeu. Ext.
T. S. Pearce. Fog.
J. A. Plume, Esq.
J. P. Warren, Eng..
Chief Maneger.
ton, MA. A. C. Hann
BRANCHES :-
LONDON. LYONS
MALACCA
MANILA
BATAVIA
BOM PLAY"
CALCUTTA
NOUKDES
CANTON
KAGAMAKI
CHEFOO
NEW YORK
PEKING
PENANG
COLOMBO
RANDIOON
SAIGUN
SHASGUAL
DAIREN Foocrow HAIPHONG
HAMBURG
SAN PRANCISCO
HANKOW
HARUIN
HONOKEW
ILOJE
JPCH
JONORK
KORE
KOWI DON
KUALA LUMPUR
SINGAPURI
SOURABAYA
SUNGEI PATANI TIENTSIE
JURYO
TSINGTAO
YOKOLJAMA
Current Amorala opened in Local Currency asi Fized Pussite received for ove rese shorter periods its Local Currency and darling
on terms which will be quoted on sopäation, Hang out, 24 May, 1025.
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter, 1853. HEAD OFFICE: LONDON, Paid-up Capital
Reserve Fund
Reserve Liability of Proprie
.£3,000,000
.£4,000,000
.£3,000,000
KUALA LUMPUR
KUCHINO
MADRAS
Agencies and Branches:
tors
ALOR STAR
(Many States
AMRITHAR
HANUKOX BATAVIA
BON BAY
CALCUTTA
CANTON
GAWNPORE
ORDU
COLOMBO
DAIREN (Dalny
Hauth Manchin)
DELHI
HAIPHONG HAMBURG HANKOW
BARBIN
(N. Maneburit
HONG KONG
IPOR
KARACHI
KLANA
KOBE
KUALA KANGSAR
Perak (F.HS
Foreign
MANILA
MEDAN
NEW YORK
PEKING
TENANI PEXIFAWAR RANGOON
BAIGON
SEMADAYO
SEREMBAN
SHANGHAT
SINGAPORE KOURABAYA TA PING
(F.M.S.) TÁVOT
TENTAN
TOKYO
PINGKAH. Bhukel)
*ESINCITA
YORSHAWA
ZAMBOANGA
Exchange
(Philippine flatuds)
THE CHINA MAIL,
WING ON-BANKERS
INCREASE IN SCOPE OF BUSINESS
CAPITAL ENLARGED
COMMERCE
AND
FINANCE.
NEW CURRENCY
SUGGESTION FOR AN INTER- NATIONAL BANK
MONDAY, SEPTEMBER 16, 1929.
HONG KONG MARKET PRODUCE.
APPROXIMATE RETAIL PRICES.
Butcher Meat.
Beef Stripin
Prine Cut
Corned
Roast
Breast
Soup
Steak
"ÁS GOOD AS GOLD"
Mr. J. F. Darling, C.B.E., has pre The Wing. On. Co., Ltd., whose pared a pamphlet on the subject of a registered office is at 213, Des new international currency: the bank
international settlements. Vieux-road Central, which is well-for
He known in Hong Kong and elsewhere, afresh, with a new currency unit and
maintains that Europe must start Budock's Brains
Tongue, fresh
has received official sanctlon to add "banking" to its list of business objects.
Instructed by Messrs. Hastings, and General Denny's & Bowley, Mr. F. C. Jenkin, Banking business transacted.
C.B.E. appeared in the Supreme Current Accounts epened and Fix-Court (Miscellaneous Proceedings) ed Deposits received for 1 year or shorter periods at rates be quoted on application.
as it values its financial freedom Europe, in self-defence, must be pre- pared, if necessary, to break step with nbtaining in the U.S.A. the dollar and the abnormal conditions The way should be prepared now so breaking step becomes necessary it may cerned, in an orderly manner, throw he carried out, so far as Europe ia con-
that if
די
#
:::;E:རྩྭ་
Steak Sirlou Sackages
Tongue, corned
Head
Heart
Hump, Salt
Poet
Kidneys
Ta
Liver
F
Trips
which will on Saturday, in support of the peti-ing on the United States the onus of tion presented by the Wing On Co. deciding whether to be out of step with under the provisions of the Con- Europe. By the creation of an -in- Manager.panies Ordinance of 1911.
dependent currency unit and setting up Calves' Head & Feet an International Bank, the break, if it Button Chop. has to come, would take place auto- Inter alin, the facts shown by the conclusions he arrived at after study- matically and simply. These are the petition were as follows:-
A. H. FERGUSON,
Hong Kong, Bth January, 1929.
THE HO HONG BANK, LTD. (Established 1917.)
CAPITAL.
.$20,000,000 8,000,000 4,000,000
1,000,000 2,219,000
Authorised Issued Paid-up
Reserve Liabilities
Shareholders
HONG KONG SAVINGS BANK. Surplus
The Busitis of the above listix is cover-
ed by thu HONG KONG AND SHAHOLAI JANKING CORPORATION, Rulp sy be
bined s spplication,
遗
FOR THE HONG KONG SHANGHAL BANKING CORPORATION.-
A.
C. HYNES,
Chief Murgos,
Bung Rong, lich Soplember, 1997,
NEDERLANDSCHE HANDEL - MAATSCHAPPIJ, N.V.
(NETHERLANDS TRADING SOCIETY)
BANKERS.
Established 1821.
Daag kong Vico :-) Queen's Road Central. Autbrised Usgestal ----- Quilders 150,407,00€- Pada Capilul
Barve Fu
(21%,88,000,} Dukar 80,90€
{£6,0X1067.) Guilder 40,000- (MY)
cod :-(AMSTERDAM"). Ester
Head Of:-BATAVIA,
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 HOOL
Manugor. Hong Kong, 15th May, 1923.
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO)
HEAD OFFICE: Taipeh, Formosa. Incorporated by Special Imperial
Charter, 1999,
Gunsten? Bank iz Formosa, Bank-Notes iszyed average amount ---ïen, $1,000,000 URANCHES AND AGENCIES: JAPAN:-Tukyn, Yurahan, Kobe, Draka. FORMONA, Kagi, karenko, Esciung. Mekong, Naoto, Bumurbiku, Taisku, Tainan, Takso, Tarvai, Toen, Heita, "ad LDL CLUNA Slungs, low,
Teochew, AATAY, Lauta
Всоладщут, Calcatta,
BRANCHEA-landjobwi Baudocug') etabay,ving Kang. Bingspora
Calcutum, Cheriboz, Domber, Djol-
įskana") The Lague), Jeddas, Kábe Kota-Madja, Makassar, Medan, Padang
Rangoon, Botterdata"),
Somarang).
Shangtani, Sibolga
Hava, Bobug, Bemarang, Laudio, Nes Sur, Daire.
LONDON BANKERS!
Pahang. leksinngen, Penang, The Landes County Westminster and Parra Bank. Julianak,
Tise Bank has Corruspvaduote in all the pin-
K. NAGURA,
Magor.
(SRE), Hingapore. Booral cipal Commercial Centre throughout the worist,
Boerakarta (Hold), Tegal, Tilatjap and Waltevrede
ce ses have safo deppail boxes to let.
London Books-National Provincial Bank Ltd.
Porrspondents all over the world
Banking business el every Evcription tratescled.
T. M. ELBERO
Hong Kong. With 1iny, 1923.
Macoger.
BANQUE DE L'INDO - CHINE.
HEAD OFFICE:
96, Boulevard Haussman, Paris.
Subscribed Capital .Frs, 72,000,000.00 Paid-Up Capital...Frs, 68,400,000.00 Reserve Finds ....Frs.102.000,000,00
BRANCHES: Bangkok Hong Kong Quimbez Battambang Hue Saigon Cuntho Mengtze Shanghai Canton Nam Dinh Singapore
Neumea Thanhea
Djibouti Fort-Bayard Papeete Tientaln Haiphong Peking Tourane
Fnon-Penh Vinh Pondicherry Yunnanu BANKERS:
Hankow Hunpi
IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyconais;| Banque de Paris et des Pays-Bas; Credit Industriel ot Commercial; So- ciete Generale.
IN LONDON: The National Pro- vincial &
& Vaion
Bank of England, Ltd; Comptoir National d'Escompte de Paris; Credit Lyonnais.
IN NEW YORK; J. P. Morgan & Co., French American Banking Cer- peration; Guaranty Trust Co. of New York.
OD
Interest allowed Currem Ae- counts and Fixed Deposits according to arrangements.
Every description of Banking and Exchange Business transacted. Safe Deposit Boxes to let.
A. LECOT,
Manager. Hong Kong, 1st May, 1929,
THE YOKOHAMA SPECIE BANK,
LIMITED.
Established 1880.
Capital (fully paid-up) Yen 100,000,000 Reserve Fund... Yen 108,500,000
Head Office—YOKOHAMA.
Branches and Agencies at: Alexandria
Batavia
Bombay
Buenos Ayres Poking
Calcutta
Canton
Changchun
Dairen (Dainy) Fengtien (Mulden)
Hamburg Hankow Harbin
Hong Kong Hoaglalu
Kai Yaen Karachi
Kobe London Los Angeles Manila
LYGBS
cants.
Newchwang New York Osaka
Bauzoun Rio de Janeiro Saigon San Seattle
Francisco
Semarang
Shimonosoki
Singapore Socrabaya Sydney
Tientsin
Tokyo Tainanfu Tsingtau Vladivostok
(Temporarily closed)
on Current Ac- Deposits received for fixed periods at rates to be obtained on application. RAIL MORI,
Manager. Hong Kong, 11th September, 1929,
HONG KONG BRANCH:
De Voeux load Contral Hong Kong, 19th January, 1929.
THE BANK OF CANTON, LTD.
Established 1912.
Head Ofice-Hong Kong.
Authorland Capital (I.K. Currestoy) ...$11,000,000
ad Up Capital
• 604,30) Kozerve Fund DELARALARDAN
850,003
BIANCHES- Canton, Shanghai, Amkow, Sestow Hangkol, New York and San Francisc.
LONDON BANKERS:—
The Lin's Bank Lilled. Correspondent in all principal cities of s World.
Foralga ezaban and banking business of overy dearripeiso trannestad.
Sols Deposit Boxes (various sizes) ak a yearly rental of 'from $5 to $40,
LOCK POONG SHAN,
Chief Manager Hong Kong, 19th February, 1927.
THE BANK OF CHINA. 行覷國中
(Specially Authorised by Presidential Mandate of the Republic of China on the 22nd of Noverober, 1917-)
Authorised Capital Paid-up Capital Reserve Fund
The Petition
ing the Report of the Reparations Ex-
"
Leg
Shoulder
Saddle
1914,perts; and they have only been Pig's Chitlings
strengthened by further reflection.
He does not find himself in accord with the suggested banking operations as set forth in the Report.
An International Bank would be the fountain-head of credit not only for the participating countries but ultim
Brains
Feck
17
Fry
Head
"
Heert
IF
Kidneys Liver
Leg Loin
Fat or Lard
Heart
35
Kidneys
Liver
牛尾耙
牛
4
4
羊排
The company, incorporated in has a capital of $8,000,000, divid ed into 80,000 shares of $100 each; of these 20:000 have been issued and are fully paid-up. A further 20,000 are to be offered to share- There are two monetary difficulties holders in satisfaction of a bonus confronting the nations, he continues. to be distributed in accordance with One is that at any rate under the resolations passed by the sharehold-orthodox 40 per cent. gold reserve. there is not enough gold to go round. ers.
The other that we have got away Pork Chop The company
haa carried business with considerable success,
from the action of an automatic gold the net profits of the last Chinese standard and have substituted Central Bank Management; and the world is year (ending February 9, 1929)
not particularly enamoured with the being $603,224.59. On July 8 and 24. 1929. extraordinary meeting: result. Indeed, both the gold standard were held by which banking was and Central Bank Management are on Sheep's Head & Feet
their trial.. added to the memorandum of asso- ciation Such was
was required to en- able the company to carry on its business more efficiently and also to earry on certain businesses which, ately, perhaps, for the world. It would Sucking Pigs, to order F under the existing circumstances, unfortunate, though certainly not Suet. Beef
improbable, if, through its manage mag conveniently and advantage- ously be combined with the business
ment, friction arose among the nations. Veal We should, therefore, I think, en- of the company.
deavour to arrange that the flow of Extended Connections
credit at its source be automatic and The company as accumulated a
not subject to interference by "manage! Fur
or $2,000,000 and up- reserve
ment." warra The capital was originally 3600,000 and subsequently $2,000.- 000. It has now large and con siderably extended
Let us now proceed to establish an connections and
International Currency Unit and set Canton Fresh Water excellent opportunities of doing business.
up an International Bank, primarily for Europe but open to participation by
Carp countries outside Europe.
The currency unit would, in the firstGatfisk place, be given a gold equivalent. Codfish Furely in order to provide an intelligi Crabs ble symbol for purposes of demonstra-
-at
be
Working of the Scheme
F1
Barbel
Bream
Matton
Sausages
No. 1.
Fish.
No debentures have been issued. In the main, the creditors (of the compung) are some 4,000 deposi tors, whose deposits amount to over $7,000,000. Interest is paid on such deposits
of 8.6
3.6 per cent.
tion, propose, this essay, to call Cuttle Fish It is mainly in connection with such deposits that it is desired to extend pound (Inl). The gold equivalent
the currenty unit an International Dab the objects of the company. The company has ample working capital, and its assets are more than suffit most emphasise, however, that Eola, Conger
the unit would be entirely independent and make of any cient to pay its debta
existing good the whole of its paid-up would not be governed by the ex- Currency unit, and capital.
change value of the British pound
Very Sound Position
In support of the petition, Mr. Jenkia said that confirmation was sought for the resolutions passed. An affidavit of Mr. Philip Gockchin, chief manager, had been filed. Notice had been given in accordance with an order of the Court and this was proved by an affidavit of Mr. E. S. C. Brooks, solicitor, of Messrs. Hastings, Dennys, & Bowley.
"The financial position is beyond question," said counsel. sound indeed.**
"It is very The addition of banking was really in deference to the wishes of the company's customers and the depositors, who desired the company to do banking business.
32W no
company, under its original articles, His Lordship observed that the
already had power to take money on loan, and he therefore $60,000,000.00 difficulty. He, would accordingly. 18,278,000.00 Make order confirming the 9,829,428.24 alterations to the articles.
The bonus shares referred to are intended to be distributed, one bonu share for each one already held, on January 30, 1930.
HEAD OFFICE; PEKING.
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 Bakers: The National Provincial and Union Bank of Eng- land, Ltd.
The Chiaranty New York.
Trust Company of
New York Bankers: The Irving National Bank
The Equitable Trust Company of
York.
New
Interest allowed on Current Ac- counts and Fixed Deposits, Terms on application.
Every description of Banking Busi- ness transacted.
Loans granted on approved secur ities.
Special facilities for Home Ex- change.
SHOU J. CHEN,
Manager.
THE BANK OF EAST ASIA, LTD,
HEAD OFFICE: HONG KONG, 10, Des Voeux Rond Central, Hyg. Kong.
Authorised Capital
Paid-Up Capital
Reserve
Batavia
$10,000,000
5,000,000
1,500,000
BRANCHES AND AGENCIES:-.
Mebourne San Francisco
Bombay Nagasak! Seattle
Calcutta New York Semarang
Canton Osaka
Haiphong Perls
Honolulu Robe
Manila
Singapore Sourabaya Peling
Sydney Perang
Taipeh Ragnou
Tientsin Tokyo Salgon Shanghai Correspondents in all principal
Kowloon
London
cities of the world.
an
M
-
of
Dace
the Ialf would be 115 grains of fine Dog Fish
#
耙 肉肉腌肉榔腦開頭心月脚尾肝让脚骨脾手肉腸腦阱什姒心腰肝骨脾團油脚心肝猪油油 $ * F
牛牛
#
#
K
Fian 塘魚
鲤
Fresh Water
"
Yellow
Frogs
of any other currency, nor yet by gold. It would be a composite unit, gold Garoups being only one of its component parts. Gudgeon For the participating countries the In would become the standard, and
Herrings
the "par of exchange" with one another Halibut a fixed relationship thereto. The Labrus International
Bank,
on its banking Loach side, would confine its operations 'ex- clusively to Inl.s
Lobsters The participating countries would Mackerel legislate that Inles could be held in Monk Fish lieu of gold in their currency reserves, Mullet The International Bank would keep Oysters accounts They would be opened by a deposit of Parrot Fish gold. Thus, the Inl.f is no longer an Ferch abstraction. It has materialised. Fike
A transfer
in the ledger of the Plaice International Bank would be tants-
for Central Banks
only.
mount to a transfer of currency from Famfret, White one country to another. Let us get this Pomfret, Black important function quite clear. Cen- Prawns tral Bank A. instructs the Interna- Ray to Contral Bank B. tional Bank to transfer Iol. 1,000,000 Rock Fil
Central Bank
20 Roach A's currency, or at any rate, ita power to issue currency, is reduced by Inlf almon 1,000,000, while that of Central Bank Shark B. is increased by that amount.
This Skate is a facility and an economy in the use shrimps of gold. But it does not carry us far]
Snapper enough.
Substitute for Gold
Soles Tench
As gold is in short supply, our next Turbot
Sept. 5, June, June,
Poultry.
寵
RUE
Sept. 5, June, June,
1829. 1918 1914.
Cta. Cto. Cts.
lb. 50
30
28
29
22
Capons, Small
* Capons, Large
Druck
---Doves
Egga, Hen (cooking)..
肥線雞
HE
新鮮雞蛋
海南门
each
22 21
por dos. 28 - 18
1929, 1918. 1914.
Cts. Cts. Cts.
1b.
28
24 12
Chicken
30
28
11
23 12
99
24 22
24 20 18
24
20 18
28 24 22
Egge. Hen (fresh)
96
80
95
Fowls, Cantor
32 26
20
per set 15
10 12
Grese
each 65 50
60
$1.20
"
60 -$1.20
24
18 14
84
20 I
each 10
10
12
נו
נן
१६
ון
口竊竊
10 10 12
Fowls, Hainan
Pigeons, Canton
**
Hoihow 海口
Turkeys, Cock Turkeys, Hen
Snipe Pheasant
Quotl Partridges
Fruits.
鴿
Almonds
Apples (California)
"
Unfusa A 6 8 3 5 | ATAS
-25
88
85
*5 8 ៖ ៩៨ | ន៩៩ | | | | | | ® | >
24 24
each 65 80
28
lb.
pair
བ བར འཚོལ བརྒྱ བ ང སྠཽ ཀཏྠཾ མ བཕྲུལ བ
鷄籍 本蛋蛋雞 公追鄉鹑橋
新本海鹅白海火火沙山萬節
ཚུ ཀྰ ཆ སྐྱུ ཡུ | ཨ | | | སྐྱ༞ སྐྱ ཕ ུ ཨ
*
15
- lb. 60
金山輝藥
7
雅山香蕉 一元
# #
6-
35
12 12
f each 13
# # lb. 10 25. 30
+ lb.
26 20 22
24 18 14
8 Ú
7
est $1.20 $1.00 $1.00
lb. 45 26
46 28
44 24
TJ
45
80
27
Bananas (bride's)
Per set 8
12
Carambola
ib. 18
15
Coconuts
28
15
18
18 20
Lemons, China
each 15
10
10
Lemons (American)
金山檸檬 Back;
13 10 3
11
Lichees, Dried
lb.
4B
30
24
$4
25
239
Oranges (Canton)
新會甜橙
36
Oranges.
#
40
60
70
Pears (Canton)
21
21
Peanuts
per set 82
60 70
沙梨 花
12
73
生
each 11
8 7
Persimmons, Large
15
46
12 10
25
Plantain
Pumelo, Siam
Ib 26 25 22
Walnuts
20 20 13
43 26 26
Grapes
30
20 20
92
28
“ཎ ཥ ཟ ཎ སྣ རྐུ
魚魚魚魚脚
牛羊仔仔
HEHEHEHEHEHEHE ***MARE++
蛟塘鑠懿墨 黄海黄田石白銀黄島茲北班白黒明石崇馬立尤左 公班
problem is to find something which, for Turtles. snel, fr. water
monetary purposes, is fas good
gold"-something worthy of that high
place the Inl is to occupy in lieu of ----
gold as currency cover for the parti-
魚魚—┻魚魚魚魚 晒沙鰵魚躍鷄出魚白甲花魚蝦魚魚魚蠔魚芒魚館館蝦鯊公魚鮪魚 **************887888 €******** ~ * S * A******
岸肚 水
左罚
Solving Reparations
Let us go over ground again.
**
13
12
#1 姉 大熊
5
濫羅桃 each 14.
*+
合桃Ju
18
60
鴉芝
*#7
Vegetables, &c.
Artichoices
Beans, Sprout
Long
Beet Root Bittor Squash
Brinjale, Green
Red
Cabbage, Chincso
Cane Shoots, bunch..
Cauliflower (Large) ̇大梛茶花
+
F
(Shanghai). #5
Red
Greer.
Carry Stuff, English.
Ginger, Young
青花椒
1#
Old
Horseradish, Shanghai
竹菜等瓜瓜瓜業菜笋花花花笋業于 椒椒科
米菜辮 瓜
頭殼頭菜薯仔仔瓜仔菜菜 蒓菜
# 22
each
Ib.
each
ཕྱི ཎྜ ན མ ཞེ མ མ མ ཆ མཚོ ན ནདྲ
ནེ རྐ ང སྐ | མི ན རྨ ཎི ཎ ཥཾ མི ར མ ཎ
ib.
46
16
24
48 20 16
42
40
13 16
46 16 27
44
12
9
It
36- 16 27
$2 28
26
36 16 27
$16 23
13
(Medium)
22 20
L
(Small) 細梛榮花
38 10
8
Carrots
*
*
lb.
+38
16
Celery, Chinese
##
20
36
18
Chillles. Dried
辣
椒
52 26 30
***
32 25
器
40
80
22 32
13
Cucumbers
40
13 23
Garlic
18
15
32 18
58 22
24
ちょ
52 32 21
48
20
26
42 13
2
S
34 12
2
32 14 9
38 20 16
44
16
9
Onions, Bombay
Green
46
26 29
4
15-4 36 '30
Shanghai
上海热
44 26
78
24
45
10 14
10 14
Parsley
Ħ
Potato, Sweet
番
Јаралеле
日本開
American
28
19 18
Pumpkin
22 до
金山警 签
Radish
48
88
30
24
3 10
Shallots
24
10
10
24
Spinach
56 32 30
Tomatoes
62
26 35
Такоз
46
28
28
91
33
22 18
42
11
18
12
11
92
40
The
נו
Indian Corn
Water Chestnuts
Lettuce
27
Mandarin.桂林馬
Mushrooms, Fresh Okroes
洋葱
Rhubarb (Fresh)
紅雞機
大
Turnips, Punti (Long);
Vegetable Marrow Water Cress
Water Lily Roos
COAL SHIPMENTS
CONSTRUCTION OF NEW PIER
AT URANGAN
True to her national motto, and animated by the true spirit of pro- greas, Australia has recently opened
*
رو
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shown by the business men of Mary. borough. To celebrate the opening of the pier and the loading of the "Celtic Monarch" for Java, a dinner was given at the Royal Hotel, Maryborough, on May 9, 1929, to representatives from
"Celtic Monarch"
and various public budies and organisations of the eity and district, and in the absence of the captain of the "Celtic Monarch" the chief officer, Mr. Stileman, offered
5.8.
a number of useful suggestions during a new outlet for the coal fields of the course of his speech, suggestions Queensland by constructing at Urangan which were received with applause. a piex suitable for deep water vessels of Maryborough, the opening of this Having regard to the rich hinterland to load, and quite recently the s.8. pier suggests large possibilities in lities are added to the port such as →
cipating countrica The situation calls chief equipment is a ledger, a bill port- for a credit matrument in Inl.£fs which, folic, and a strong room. Even its like gold, would be automatic in its strong rot need not be very large aa action.
gold could be earmarked and held by For twelve years or more my mind the Central Banks. So far as its bank- has run upon the creation of such an ing functions are concerned it is im- instroment for the British Empire. material which of the participating Even before the War was ended the countries is chosen as a location for its ides took shape in the form of an office. Empire Bank, bat ultimately resolved itself into an issue of "Empire Cur- rency Bills," against the direct obliga- tion of the countries of the Empire sup sections of the participating countries net result of the multitudinous tran- ported by a reserve of gold. I am now with the pan-participating is indicated going to venture to apply this idea by the stock of inlés. Unless that is internationally and to suggest an issue left adequate the transfers cannot be of International Billa
affected.
With gold as the ultimate Let us, then, assume that the parti- cipating countries joined in an issue of means of payment to the U.S.A. the "Celtic Monarch" loaded 8,000 tons the future, providing always that faci- let us sayInl.£ 200,000,000 of such stock of Inl.£s. must become inadequate alongside at the rate of about 700 tons dreiger, leading lights to enable vessels bills in certain agreed proportion. The send something in exchange which can
unless the non-participating countries a day. Until the opening of this pier to depart at night time, and an addi- International Bank would act as trustes he converted into Inlfs and would issue the billa
tional crane on the pier. These, and perhapa a few other
improvements which time will sugget, open out pros pects of Port Maryborough, or For Urangan, whichever is decided upon ng the name, becoming a port of con- siderable importance to the Eastern market, and perhaps in time taking some of the trade now enjoyed by Bris
that capa
Under the there was no sea outlet for the coal city. It would receive from each of scheme this something is silver by from Burrum mines, and a few re- the respective governments a direct sending which there is a good chance obligation to pay its share of principal of the transfers being effected. It de marks on this enterprise may be in- and discount in lnl.f. In addition, the ends, of course, on suficient silver teresting to sailormen. The coal seams
being forthcoming. Central Bank of each country would
of the Burrum district lie about twenty Therefore, the conclusion I have ar- lodge with the Trustee its pro rate iived at, after a of harder thinking miles to the north of Maryborough, and share of gold, to be held, not merely
The Reparations pro-and until the opening of other mines in is not, with its winding, tortuous river, ernment, but of the whole issue. This ject, is this.
can in all likelihood be solved réserve might be per cent of the through the rehabilitation of silver, the north those of the Burrum district exactly ideal although, once there, the iesac-in this case Inl.£ 40,000,000. At any rate, it is contrary to an scone-enjoyed a certain amount of prosperity; hounded, even in a land renowned for hospitality of the inhabitants is un- The bills would be discountable at the mic law that it can be solved without but without an outlet to the ses the hospitality, and the writer of this note International Bank and, ne it does not an exchange of some sort. transact business in any other car
mines were compelled to reduce their should know, for Brisbane was his first rency, no other bill or instrument afiaves let it go-in that quaint phrase/output to the requirements of the Wide alas, a dim memory of the years that port on his first voyage to sea, now, good Bay district. The construction of the have gone, and they are many! national Bank, as
as 1 conceive them, plenty." And get out of the habit of pier at Urangan opened up prospects would be simple and few. They would worrying because gold goes, leave that of export trade, for the quality of the
against any default of its own Gohan I have ever applied to any sub-were, discovered. some sixty years ago.. "bane, which, as a port for large vessels,
credit would be eligible there.
Thus
hiem
Finally, when under the scheme gold
Newton-in
the banking functions of the Inter of Sir Isaac
consist only of holding the balances of to. Americ.
Every description of Banking and Exchange business transacted. Loans
The Maytag Company, of New York,
the Central Banks and discounting Might, however, add that no Burrum coal is admitted to be second
Silk forwarded from Hong Kong granted on approved securities.
of which F. L. Maytag, above, is chair International bills for them. As we scheme was be considered satisfactory to none in Australia, and it is con- by the "Empress of Russia" on
have seen, holding the balances would, which does not embrace the United SAFE DEFOSIT BOXES to let man of the board, reports a net profit in effect, enable currency to be trans States of America, and that their exhdently hoped that the trial shipments August 21, arrived in New York
for the six menths ended June 30, of KAN TONG PO, $0,236,122, after charges sad Federalferred from one country to another by clusion is forced upon the nations by "Celtic Monarch" and "Calalu" will (St. John's Park) on September 11,
Chief Manager: taxes, a new earnings record in the his
amere ledger transfer. These func(reason of their departure from what lead to regular shipments in the future having been 21 days in transit. Hong Kong, 21st March, 1027. tory of the company.
tions require no management." Their President Wilson termed "Normale" and so justify the spirit of progress
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