1929-10-16 — Page 2

China Mail 德臣西報 中國郵報 All

2

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authored Capital 100,000,000 Larued and Fully Paid-up $20,000,000 Reserva Funda:-

Sharing Gilver

...£6,500,000

-------- 14,000,000

Beervo Liability of Propciator $20,000,000

READ OFFICE, HONG KOKO,

BAND OF IRECTORS 1–

B. frown, E.

Chairman.

#.. Bell, Esq. Deputy Chairman.

ron. Mr. D. 1. P. Dalth.

A. H. Compton, Eng.

M. T. Jabuson, Eaq.

. Lander Luwia, Esq. Chia

AMOT

BANOKOR

BATAVIA

BORDAY

CALOUTTA

CANTON

'DHEFOO

COLOMBO

DAIDEN

FOOCHOW

ETALPTIONC

HAMBURG

ILANKOW

ПЛАВІН

HONQKEW

ILOLO

под

JOHORE

KODE

KOWLOON

W. L. Patienden, Ex. T. 2. Pearce, Esq.

J. A. Plummer, Esq.

J. P. Warren, E. lager.

Hon. Mr. A. C. ilyass.

KUALA LUMILH

BRANCHEA

LONDON" LIONS MALACCA

MANILA

MOUXDEN

NAGABAKI

NEW YORK

PENING

PERANO

BANDOON

SARGUN

BAN PRANCISCO SHANTHAL

SINGAPORE

SAT BADAYA

UNDKI PATANI LIINTAIN

PORTO

TINGTAO YOKOHAMA

Curias Ascounte opesed in Lool GureEROJ and Fixed Deposite recued for one year or aborter periods in Local Currency and Sterling au ternis which, will be quoted on application. Hong Kong, 14 May, 1926.

HONG KONG SAVINGS BANK.

The Business of the above Back is condues. ed by the UND KONG AND SHANDIAL BANKING CORPORATION. Bulae may be chained on application,

YOR THE HONG KONG A BUANGHAI BANKING CORPORATION.

LC. HYNES,

Met Manager. Bong Kong, 19th September, 1929, "

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

BANKERS.

}

Falabilabad 18:21 Hong Kong C-11 Queen's Road Central Authorized Cupilet

Owlders 250,000,000- $3,400,000.)

Paid Up Capiul

Eserve Fund

Dukla 80,000,0

(£5.500.607.) Ostidere 40,000,000- (48,885,853)

Load Oos-AMSTERDAM'). Eastern Head CH-BATAVIA, MBANGRIES:-Bandjarmasin Bandoeng') Dombey,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHIŅA.

Incorporated by Royal Charter, 1853 HEAD OFFICE: LONDON. Paid-up Capital

.£3,000,000

Reservo Fund ....

.£4,000,000

Reserva Liability of Proprie

tors

.£3,000,000

KUALA LUMPUR

KUCITINO

MADRAS

MANULA

MEDAN

Agencies and Branches:

ALOR STAR

[Malay Slide)

ANDITBAB

BANGKOK

HATAVIA

BOMBAY

CALOUTTA CANTON

CAWNPORE

CERY

COLGUTO

NEW YORK

PEKING

PENANG PEARAWAN BARGOGN

N

DAIKEN (Dalny

Huth Manchuria) DIS

HEMADANG

БЕЛЕМВАН

SILANOBAL

HALPHOSO

HAMBURG

HANKOW

HARIN

N. 31anchuria)

BONG ROND

ILOILO

PROX

KARACHI

KLANG

KUALA KANGSAR

ROBE

Perak (P..8.1

HINDAPORE BOUNABAYA TAPPING

(P.30.8.)

TAYOY

TIENTHIA . TOKYO

TOROKAU (Dhoket? TSINGTAD YOKOHAMA

ZAMBOANGA

(Philippine Islands)

General

Foreign Exchange and Banking business transacted.

THE CHINA MAIL,

COMMERCE

TIPPING PLANTATION | SHARES

RECLAIMED RUBBER

THE KEY TO MARKET CONDITIONS

EFFECT ON PRICE OF CRUDE

However unpleasant it may be to shareholders in rubber plantation companies to have to face the fact, there can be no doubt that the pre- sent position and future prospects Current Accounts opened and Fix-of the rubber market are materially ed Deposits received for 1 year or affected by the remarkable progresa shorter periods at rates which will made in reclaimed since the war. be quoted on application.

It is a factor which it suits those who have their eyes mainly on the Stock Exchange to ignore, It 18 also a factor which, if reclaimed

A. H. FERGUSON,

Hong Kong, 8th January, 1920.

Manager.

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

CAPITAL

Authorland Issued

Paid-up

Reserve Liabilities

Shareholders

Surplus

statistics were readily available week by week or month by month, would put a different complexion on the stocks of rubber held in London. Liverpool, New York and Malaya. $20,000,000 Why is it, we are repeatedly asked, 8,000,000 when rubber consumption is in 4,000,000 creasing by leaps and bounds, when production is only increasing auf- 4,090,000 2,219,000

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 HOOI,

Manager. Hong Kong, 15th May, 1929,

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO)

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

Charter, 1899.

Central Bank in Formosa. Dank Noten sued Average amount .....Yun. 43,000,000 BRANCHES AND AGENCIES: JAPAN :—Tokyo, Yokohama, Kobe, deska,

Karako FORMOSA -

Kaslung Making. Nasto, Bbinskiing, Tanka, Trinko, Takso, Tamaul. Town, Halin, Tali, CHINA-Bhanghai, lankow, Amoy, Zoochow

Cazion

Крок, Вітроги, Hornbaya Недко

PATI Bombay, Colou London, New York, Dairen,

LONDON BANKERS,

Calculus, Oberibom, Damber, Djok OTHERS

jakarta') The Hague'), Jeddah, Bode. Kota-Hadju. Makassar, Medan, Padang Falembang, Pakkisugat, Pasang,

Fook Hagoon, Bosterdam'). | The London County Westminster and Perr'a Bank.

Bhanghai Sibolg "(Suznice), Blugapore, Sourabala The Bank has Correspondents in all the prin Loerakaria (Sick Taga, and Weltevredan.')

* Those offices here safe deposli boses to lek, Loudoo Dacker-National Provincial Denk Lid.

forrespondants all over ibe world

Usaking busines SË STATE

the world.

jap

cipal Commercial Canser

HONG KONG BRANCH ;

Voeux, Road Cenimi, Hong Kong. Una January, 1929,

K

Manager.

Kounger.

Eskiption tresented.

P. X. ELBEND

Gong Kong, tik May, 1929.

J'

BANQUE DE L'INDO - CHINE.

HEAD OFFICE:

96, Boulevard Haussman, Paris.

Subscribed Capital Fra. 72,000,005.09 Pald-Up Capital...Fra. 08,400,000.00 Reserve Funds ....Fra.102,000,000.00

A

BRANCHES: Bangkok Hong Kong Quinhoz

Salgon Battambang Hue Cantho

Mongtze Shanghai Canton Nam-Diah Singapore Djibouti - Noumea Thanhea Fort-Bayard Papeete Tientsin Haiphong Peking Tourane Hankow Prom-Pooh Vinh Hanoi Pondicherry Yonnantu

BANKERS:

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

Credit Industriel et Commercial; So-

clote Generale,

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

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

A. LECOT,

Manager. Hong Kong, 1st May, 1920.

THE BANK OF CANTON, LTD.

Established 1912,

Head Office:--Hong Kong.

Authorleed Capital (ILE. Currwody) 11,000,000 Paid Up Capital meman Best Fund

$50,000

BRANOKES- Canton, Shanghai, Baskom, ·Below. Bangkok, New York and San Francisco,

LONDON BANKEBO --- The Lloyd's Bank Limited. Correspondente in all principal cities "of the World.

Forsig oogo and banking budinem of By description sanct

Bale Deposit Boxas (varipun siam) at a Jonely rental al "Trom $5 to 40.

LOOK POONG SHAN,

RUBBER DOUBTS

Production May Exceed

400,000 Tons

The whole rubber situation le still overshadowed by grave doubts as to the producing capacity of Malaya. The fear of continued big shipments hangs over the market, not only darkening the present but the future. For a time no one seri- ously doubted that if consump tion continued at the current year's level demand it would more than equal supply in 1930. There is less assurance of that now, in view of recent exports, and if the figures for the next three months are on the same scale it will be prudent to as- sume hat producers will more than hold their own at present price levels for at least anoth year. If those who say the h ded stocks were all 'shipped by the end of March are right, Malaya's production this year may exceed four hun. dred thousand tons.

AND'

ན་ ་

FINANCE.

CENTRAL BANK

LOCAL BANKNOTES TO BE RELEASED

SIX PER CENT. INTEREST

Th Canton News Agency was in- formed yesterday at the Central Bank that commencing from that day all banknotes belonging to local mer chants and banka that had been seal- od over since the last provincial war will be released, and that six per cant. Interest on such seated notes will be paid by the bank. There is as yet no dates for the redemption of the outstanding banknotes. expansion be ed? Recently contemporary, the India Rubber World, published an article on the use of reclaimed, by Mr. E. G. Holt, chief of the Rubber Division of the United States Department of Com- The returns he gave show

merce,

met

by reclaim. our New York

WEDNESDAY, OCTOBER 16, 1929.

HONG KONG MARKET PRODUCE,

Beef Sirloin

APPROXIMATE RETAIL PRICES.

Butcher Meat.

**

Prime Gut.. Corned

"

Roast

17

Breast

Soup

Steak

P

J

Steak Sirlon "Sausages.... Bullock's Bratus.....

*

Tongue, fresh ..

Tongue, corned

Hump, Selt.

P

Head

Th

Heart

**

1

Foot

J

Kidneys

H

Tall

Liver

27

17

Tripe

Calves' Head & Feet Mutton Chop

21

Leg

"

Shoulder

31

Saddle

Th

that in ten yeara whilst consump tion of crude rubber In the United States has increased by roughly 116 per cent., the increase in reclaimed Pig's Chitlings during that period has amounted to over 200 per cent. In 1928 it re- presented 51 per cent. of the total rubber used in the factories of the United States, When we are told by the rubber planting interests that the United States last year consumed 437,00 tons of rubber, the information is not accompanied by a statement that they also consum ed 228,000 tons of reclaimed. Nor

Brains

20

Feet

Fry

Hend

**

Heart

Kidneya

+

22

Liver

Pork Chop

#

Leg

Loin

"

10

Fat or Lard

when we are afforded a glimpse into Sheep's Head & Feet.. the possibilities of expansion in other countries, particularly coun tries like Africa and China, are we ever warned that, the effect on

Heart

M

T

Kidney

Liver

LP

Sucking Pigs, to order Suet, Beef

1+

Veni

plantation rubber must be dis- counted by the amount of reclaimed available. Until quite recently it was believed that reclaimed rubber could never claim equality in manu- facture with new crude. But science has not stood still in regard to reclaimed any more than in other directions. How far the advance in Barbel price due to restriction was respon- Bream

Matton

42

4

1M

Oct. 11, June, June,

Eggs, Ren (cooking)..

Turkeys, Hen

Snipa Pheasant

Quail Partridges

15

Ost. 11, June, June,

1929. 1918 1914,

Cts. Cts. Ct.

CHERRESÈKANOCNASCA

25 20

36 24

******888886LTE

85 51

pair. 1.80

each 35

++

ឌ ៩ ៩៨ ដ | ន៩៩ | | | | | |

1929. 1918. 1914,

Cts. Cia. Cts.

Poultry.

Է. 28 24

BO 28

11

**

12 11

23 12

Chicken

Ib.

Capons, Small

28

*

Capons, Large

C# D

28

24 22

Duck

20 18

Doved

焰 each 20 22

20

18

per doz, 30

24 22

Egge, Ben (fresh)

新鮮雞蛋

ta

80

25

Fowls, Canton

lb.

28 20

Fowls, Hainan

per set 15

10

12

Geass

THE TH 100 鵝

24

each 05 60

60

Pigeons, Canton

60

Holhow

白鸽 海口鸽

each 60

$1,20

-$1.20

Turkeys, Cock

ADA

lb.

Ib.

JP

each 10

10

18 14 20 18

12

11

Iz

10 12

20 22

lb.

18 14

6 7

19

7 set $1.20 $1.00 $1.00

Fruits.

1b. 42

26

26

Almonds

24

#

lb. 80

35

Apples (California)

金山萍

22

19

24

27

n

Bananas (bride's)

燕山香蕉

1

5 4

Por set 8

12

Carambola

14

12

Ib.

15

Coconuta

15 18

20

Lamans, China

##

£ 25

30

erich 15

10

10

Lemons (American)

10 B

1b.

80 24

Lichees, Dried .....

金山檸檬 each 荔枝干 Ib.

8

25

23

Orarges (Canton)

21

新會商權

Oranges ......

60 70

4

"

18

21

1

per set 30

60

70

Peanuts

花生

"

13

10

12

each 12 B

*

10

12

12 10

Plantain

*

26 25

#

5

»

Pamelo, Slam

25 22

# each 14

6

Walnuts

18

20

18

18

26 28

Grapeu

莽携子

30

"

20

20

++

把 肉肉肌肉柳柳腦開開頭心用脚聽尾肝訨脚骨牌手由船緩店什温心肝脾油脚心屦肝猪油油肉鍋 牛羊仔仔

#

一中牛牛羊羊羊羊猪猪猪猪猪猪猪猪羊 羊羊牛乳舘牛牛

半數

猪排

Sausages

No. 17

P

Fish.

AZK

Fish # #

sible for the progress made in the Caxton Fresh Water process of reclaiming is not material except to the student of Carp economic reactions. What is Catfist material is that both in America Codfish and in Europe the objections Grabs ....

originally entertained to reclaimed Cattle Fist rubber HAVO under improved Dab

Fresh Water

Yellow

methods of treatment, been so com- Dace pletely overcome that if there wore Dog Fish enough of it to go round some Eels, Conger manufacturers would be quite cor- tent to trust the fortunes of their wares to the merits of reclaimed Frogs alone. Prejudice dies hard, but it will not for ever withstand proven facts, capecially when, as in the case of reclaimed, quality is secur ed at a much lower price.

| Garoupa Gudgeon Herrings Halibut

Labrus

ficiently to prevent an actual and immediate shortage, and when stocks avaliable or in sight are equal at best to a few weeks demand, that the price of rubber remains well below a shilling per lb? It is fullle in seeking an answer to bury

Bigger Menace Than Synthetic our heads ostrich-like in the sands

Synthetic rubber has been the re-Loach of speculation. Anyone who moves in City circles must have been im- current bogey of the plantation Lobsters

market. It might well appear that Mackerel pressed during the past month by the confidence with which those reclaimed is a much more substan- Monk Fisb who should be in the know are "tip tial menace, because unlike synthe- Mullet ping" rubber plantation shares tic, it can be turned out in great Oysters

be quantities at a really competitive Parrot Fish substantial advance fore the end

figure-something that is that the Perch of the and a modified boom in 1930. chemist has not yet succeeded in Pike

There Plaice

Chief Manager. for Hong Kong, 19th. February, 1927,

THE BANK OF CHINA.

行銀國中

(Specially Authorised by Presidential

Mandate of the Republic of China on the 22nd of November, 1817.)

a

year

We certainly are not prepared to doing with any substitute.

suggest that all the calculations is, however, this difference to be Pomfrat, White

that have been made of the future remembered, if synthetic could be Pomfret, Black

of the industry should be consigned placed on a commercial basis it Prawna

might bring prices down to a point Ray where natural rubber would no Rock Fish longer be anything more than

Ranch

to the waste paper basket; raw rub ber, in our view, is not likely to re- main forever under one shilling; the Authorised Capital....$60,000,000.00 time must come when rubber shares spasmodic commercial proposition. tiaimon Paid-up Capital

18,278,000.00 will yield a more adequate return Reclaimed rubber on the other Shark Reserve Fund

nevor drivo out crude Skats than they do at present. It will be hand, can

rubber because it depends on crude Shrimps bad for the rubber industry do not, because capital will never for its own existence. What it can Snapper flow into tropical enterprise unless do, and le doing, is to keep the price Soles

0,029,425.24

HEAD. OFFICE: PEKING,

HONG KONG BRANCH:

they

4. Queen's Road Central It is reasonably assured of some of crude rubber down to the Tench

Branches and Sub-branches all over thing more than the return which minimum compatible with increase Turbot China and Cerrospondents in Europe,

##

尾肚 水 98—888 # C2N638#EJERAICEEVESVASÄTEGEME *SEE KEEEEQUERILEHUBERERHIKERKETABEHORN- 公班

SU

Ib.

20

"

| * * * * ¤ ¤ ¤ ¤ | §¤*****°§999*8*98**=*=*888*** 389 888

13:00.

# #

Beach 14 10 - 10

¤ D.

Pears (Canton) ......

Persimmons, Large.. 汇

#

£#* 1b.

Vegetables, &c.

Artichokes

Bean Sprout

[5

Long

Beet Root

Bitter Squash

Brinjals, Green

Red

Cabbage, Chinese

H

(Medium) BE

Carrots

Celery, Chinese

Curry Stuff, English..

竹菜作類瓜瓜瓜菜來笋花花花菜干椒椒料瓜在客 米菜雞精 菜鳥仔仔瓜 菜菜

198

189 19

26

30

ཊྛནྟུ་ས-ཡྻུ mརྒྱུུ | | |】ཞཱཡཡུ||

esch

lb. 6

14

8

"

12

"3

6 24

17

5

8

8

15

12

Dach

15

ib.

48

16 24

tr

42 20

18

:

42

1

44

18

42

16

27

++

44

9

TI

(Shanghai).

42

17

Cane Shoots, bunch..

28

28

74

Cauliflower (Large)..

ABBAIE

34

#

16 27

50

23

16

(Small)

AWABASTE

20

20

11

6

35

10 8

***

10

6

86

16

Chillies, Dried

辣椒干

86 25 5

36

"

10 19

}}

Red

AC # #

30 10 16

13

30

Green

胔花椒

14 8

80

25

31

#

10 8

*

92

#

40

30

Cucumbers

6 2

32

12

22

18

Garlie

10

6

86

13

23

Ginger, Young

14

40

18

16

old

10 10

56

13

"

20

56

24

13

Indian 'Corn

45

50

J2

21

Lettuce

42

20

20

#

20

2

10

32

12

"

2

45

-##

42

9

Октока ....

12

1

+

36

20

16

H

Onions, Bambay

洋葱鎮

B

#

42

9

Green

11

&

44

20

*

Shanghai

上海您順

A

52

80

Parsley

38

56

45

Potato, Sweet

1

62

10

14

13

"

Japanese

日本薯仔

24

10

14

17

金山仔

32

IR

Pumpkin

36

10

Radish

48

B6

30

32

10

Shallots

24

10

10

Spinach

40

32

80

Tomazoea

58

28 86

Taros ...

40

28

28

"

36

18

27

32

12

J

1.05

40

魚魚魚魚如

NE

COAL TRADE

America and other parts of the world. it can get from first-class 'Govern-in production. To force it below Turtles. small, fi. water

London Bankera: The National ment securities. The risks incurr that figure would in the long run Provincial and Union Bank of Enged are much too serious..

defeat itself. The plantations must land, Ltd

Increase in Reclaim Consumption be sure of sufficient support to The Guaranty Trust Company of Now York.

Let us look at facts fairly and make it worth their while to con New York Bankers:-The Irving squarely. Can we expect consumptinue to be the source whence re tion to continue to expand at its claimed can replenish its stocks THE YOKOHAMA SPECIE BANK, Nyable Trust Company of present rate? and if the reply Otherwise nothing could ultimato

LIMITED.

Established 1880.

'Capital (fully paid-up) Yen 100,000,000 Reserve Fund. Yen 103,500,000

Head Offices-YOKOHAMA,

Branches and Agencies at: -

Newchwang Now York

Alexandria

Batavia

Bombay

Buenos Ayra

Calcutta

Canton

Changchun

Dairen (Dainy):

Oika Paking

Rangoon Rio de Janeiro Saigon

San Francisco

Pengilów (Mukdea) Sonitle.

Hamburg

Hankow

Harbin

Kong

Hong Honolul

Semarang Shanghal Shimonosod Singapore Sourabaya Bydney Tientsin

National Bank.

The

THE MERCANTILE BANK OF INDIA, LTD.

HEAD OFFICE

Singapore

THE POSITION IN. SOUTH WALES

not

many

KAARAR8¬~AA⠀⠀⠀****************

*

Horseradish, Shangha!

Water Chestnuts

Mandarin.

Mushrooms, Fresh ...

N

American

贳榮

Rhubarb (Fresh)

ALTEMIF

千数

Turnips, Punt) (Long).

Vegetable Marrow....

Water Crens

Water Lily Rost

years sustained losa of about 7,000,000 tons per annum through the

coals supply of Reparations

to France, Italy and Belgium. If the British representatives

Bucceed in securing the abolition of reparations in kind or their considerable restric- tion, the Welsh

of regaining lost trade. There are hopes that business for thair Welsh steam and locomotive coals

In restart will be obtained Canada 45

the Pro- result of the visit of Mr. H. H. prominent

that reclaimed will so far maintain until this week (mail wining re- Merrett, 'who in a VOTY,

have

should optimistically be in

they prevent a shortage in both crude

There is an expanding demand for Interest allowed on Current Ac-affirmative, how far will the and reclaimed, with consequences Welsh coal following the check caus counts and Fixed Deposits. Terma on application.

to the rubber manufacturer whiched by the holidays. For the moment, good chance coalfsld will stand a

Bre 3imited Every description of Banking Bast. THE BANK OF EAST ASIA, LTD. he would certainly not welcome supplies Boss transacted.

Thorefore, in the interests of the of the Diners

*prolonged HEAD OFFICE: HONG KONG.

and abronce „Loans granted 'on approved Recur-

did consumer of rubber; we hope first b files.

10. Des Voeux Road Central,

Hong Kong.. Special facilities for Home Ex-

duction is now steady change.

the hold it has secured that only cent levels and demands will be figure in the Welsh coal trade, to Authorised Capital .... SHOU J. CHEN,

$10,000,000 | moderate and rational advances in more readily met in the coming week. Canada. Mr. Merrett's visit colmicides Pald-Up Capital 5,000,000 crude prices may be possible, and Thers Matanger. Reserve

is exceptional pressure for with that of Mr. J. H. Thomas, the ........... 1,800,000 BRANCHES AND AGENCIES: secondly, that catates will chjoy a small and sized descriptions, which Lord Frivy Beal, who is seeking to been in short supply and in keen develop trade with Canada and re Batavia 3

Melbourne San Francisco sumcient measure of economic suc demand for some time While large leve unemployment, Canads already Bombay Nagasaki Beattle

cess to ensure ample supplies com coals are at the minimum schedule, takes about 750,000 tons of Woh Calcutta. New York Semarang ing forward at all times. Without smalls and sized classes have com- authracite annually. Sir Alfred Cope, Canton Osaka Haiphong Paris

the augmented supplies of reclaim-manded from 1. 6d. to 28. per top of the Amalgamated Anthracite Gol ed in the last few years, where above the schedule basis. Boat large lleries, Limited, is also seeking

Admiralties are 195, 9d. to 20s, develop the anthracite business in would the manufacturer have been, others from 18s, to 19s. 6d., and dry Canada."Engineering." restriction or no restriction, and nuts, 23s. to 28.; shipments of coal what would be the price of rubber sa cargo foreign in the past week to-day? To many, even in the rub were only 868,260 tons, un account cities of the world.

lowing the holidays. This 'quantity Every description of Banking and the increase in the use of reclaimed compared with 428,700 - tons In the

The number of blast furnaces is Exchange business transacted, Loans in the United States and elsewhere, previous week. Cardin shipments operation at the end of July was 167 Port Louis (Manila) granted on approved securities. shown by Mr. Holt, will have come were reduced from 286,710 tona tonn increase of two since the beginning

SAFE DEPOSIT BOXES to let

as a revelation. That this has beer 211,110 tons, Newport from 68,810 of the month. The production of pla KAN TONG PO,

tons possible is a proof of the ability of from 82,810 tons to 55,600 tons, 671,900 tons during July, compared to 63,810 tons, and Swansea fron is increasing steadily; it reached Chief' Manager the chemist to rise to an economic while Fort Talbot shipments rose with 657,800 tone during June, and occasion. It need not, however, as from 30,880 ton to 34,880 tons and 587,800 tons in July, 1928. The July some people with bearish instinct Lianelly from 6,440 ton to 8,400 output of steel ingots and castings would have as bellave, scare the aggregate, ware the highest for alx with, 880,000 tons in Jans, and 060,900

tons.

July export Veturns, in the amounted to 804,800 tons, compared Investor in rubber shares jato a wholesale sucrface of his holdings. Lons in July, 1928. The above ard port of the National Federation at

14, Groscharol Street, London, H.-U.3. Authorised. Capital....£3,000,000 Subscribed Capital ..1,800,000. Paid-up Capital... 1,050,000 Reserve Fund and Rest 1,812,047. :

BI BANKERS ■' The Bank of England Midland Bank Led BRANCHES,

New York Pesang

Tangoon

Blizdə ya Calle alias Kuantan (Exhang) Singapore Hong Kong Madras para faze Bowenkiga

Batavia)

Howrah ****

Ipoh

Harschl

Collombo Ha Bharu

Daiblir Kaala Lumpur.

HONG KONG BRÅNGL

Sourabaya Honolulu Pelping Sydney Kobe

Penang

Talpeh Kowloon Rangoon Tentsin London Salgon Tokyo Manila Shanghai

Correspondents in all principal bor, Industry itself, the extent of of the reduced supplies avaliabla fel-

FOR

TIRES

KON KARLost Trade

BRITISH PRODUCTION OF BIG

MAIRON AND STEEL

44

10

4

6

7

& 8

6

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-16

SHEAFFERS GOLF PENCIL

Fits in your pocket convenient as your watch The lead REPELS so it can't punch holes in your pocket."

SHEAFFERS

PENS AND PENCILS

Sole Distributors:

Bath crude" and reclaimed, áre South Walet coal IPA Actres sie based on the monthly, règ nevential to the progress and fall greatly concerned over the cotras of Iron and Steel 2anufacturers, Carton THE SUN CO. LTD.

the rubber industry events at the Reparations Conference Hosse (East) Tothill-street, London,

the Hague Bouth Wales hár: 1ox | B.W.1

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