HONG KONG AND SHANGHAI BANKING CORPORATION.
hotherland Oupil 50,000,0 Soned sad Pally Paid-up
26,000.0 Bassera Pandanu
Beling
4,81), DÜŞ
re+...@ 9,500)
Hangers Kishility of Propriators on 930,508,300
BRAD OFFICE: HONG KONG
www/www.m
BOARD OF DIRECTORS 1—
W. H. Ball, Ko
J. à. Plummer, Eed.
A. E. Giopia, B
Chairman.
O.. N. Mackle, Esq.
Deputy Chair.
I, Lander Lewis, Koj.
U. Min, E.
AMOT
BANGKOK
MATATIR
BOMBAT
OAKOUTTA
KANTON
XX700 DOLOMBO DAYLER WOOCELOW
HALEONO
HAMBURG
MAMBIN
KONGKHW
ILOILO
IKE
TOHOLN
KOWLOON
J. J. Pateron, Kel.
T. E. Fears, Esq.
T. 11, K. Shaw, Ex.
J. P. Warren, Esq.
Acting Chini Manager, V. M. Grayhum, Esq.
BRANCHES:-
KUALA LUMPUR
LONDON LIONS
MALACCA
MANILA
MUAR (Jobare)
MUKDEN
NAGASAKI
NEW YORK
PEIPINO
PENANG
RANDOON
BAIGON
SAN FRANCISCO
BHANGHAI
BINGAPORE
BOURABIYA BUNGEI PATANI
TIENT 19
TOKYO
TSINGTAO
YOKOHAMA
Cursal Locounia opened in Local Currency ski Piaal Dspoilla recaired for non your OF hoc perioda in Local Cartrosy and Bioril: z
on terms which will be quoted on application. Bong Kong, Ink April, 1950.
HONG KONG SAVINGS BANK.
The Buzins of the abora Bank le conduci- HONG KONG AND SUANOUA! BANKING CORPORATION. Hales may b abisinad om uppůlentiaa..
FOR THE HONG KONG BANKING CORPORATION,
★ SHANGHAI
V. M. NHA YUVEN,
Acting Chief Maunger.
Hong Kong, AK March, 1900.
NEDERLANDSCHE HANDEL. MAATSCHAPPIJ, N.V. (YETKERLANDS TRADING SOCIETI} BANKLES,
Established 1994.
Ema Kong (fon:-11 Qusan's losă Central. Spikerised Capital Guliders 150,000,000- (41,500,000.) Fold-Up Capital . Galilars 80,000,000
Beserta Fund
£20,508,607.) Gulzar 40,000,000- |{28,638,838,5
Ipad Oos:—(AMSTERDAM"). Eastern Head OM09~BATAVIA, BRANCHES :—Bandjermano Desdoung') Bombay,
Calafia, Cheriboz, Djambar, Djak jakarta") Tio Bague'), Jaddah, Iss Kom-Radia, Makassar, hledan, Podanz Falembang Pekalongan, Pasang Ponilanak, Bangoon, Ecclerdam'), Bemanas), Barngkal, #boga (Guatem Bingapor Porraber Boralari (Bolo), Tegal, Tillst|ap| and Walterrades.
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter, 1859, HEAD OFFICE: LONDON. Paid-up Capital
Reserve Fund ...
Rezerve Liability of Proprio
Agencies and Branches:
tore
ALOB STAR
*(Malay Bias00}
ANKITSAR
BANOKOK
BATAVIA
BOMBAY DALCUTTA
DAYTON
CLWXPOBE
CEDU
COLOMBO
DAIREN (Delay
Bouth Magokeria)
DXLVI
HALPHONG
HANBUBO
HANKOW
HARUN
[N. Manchuria)
TỔNG 166
ILOILO
£3,000,000
..54,000,000
.23,000,000
MUALA LUMPUR
RUDLING
MADRAS
MANILA
MEDAN
NEW YORK
PEKING
PEKANO
BANGDON
BAIGON
REMABANG
SEREMBAN
BHANGHAI
BINGAPORE
PESHAWAR
ROUBABAYA
TAIPING
(P.M.B.) TAYOT
TIESTSIN
TO TO
THE CHINA MAIL.
DIRECT BUYING,
COMMERCE
NEW POLICY OUTLINED.
The announcement that Mr. J. K. Choy, chief of the Administration Nationalist Department of the Ministry of Railways, has been in- structed to open 3
purchasing agency in London, is indicative of a new polley Inaugurated by Foreign Exchange and General Minister Sun Fo to cut ciminating by
IPON
HABACHI
KLANO
O
KUALA KANGSAR
Parak (M.B.)
JONUKAH (Bhak
TSINGTAO
YOKOHAMA
(Philippine Zelanda)
ZAMBOANGA
Banking business transactad.
Current Accounts opened and Fix- ed Deposita received for 1 year or shorter periods at rates which will bo quoted on application.
A. EL FERGUSON,
Hong Kong, 8th January, 1929.
THE HO HONG BANK, LTD. (Established 1917.)
Authorised
Iraved
CAPITAL
Liabilities
Every description of Banking and Exchange business transacted.
TAN ENG ROOL
Manager. Hong Kong, 15th May, 1920.
THE BANK OF TAIWAN, LTD.
(TAIWAN GINKO)
HEAD OFFICE:-Talpeh, Formosk Incorporated by Special, Imperial
Charter, 1899.
down
pose.
expenses
It would inaugurate a system of equipment manufacturers in the direct purchasing from railway
United States. The new regime in Mukden feels that in the past quotations have been made by local agents which necessarily in- cluded bonuses (polite term for "squeeze") to railway officials directly concerned with the pur- FORMOSA dira, Kazh Karsake Katchasing of equipment. They Kalong. Nanto, Binchiku, Tan, Tain point out that an earnest effort is | CHINA :---ħikanghai, Bankow, Amoj, Tooker, being made af this time to OTILERS — Kong, Ensors, Bombas eliminate these confidential emolu- Caliments, and consequently desire for the time being to deal direct with
in BRANCHER AND AGENCIES JAPAN1—Tokyo, Yokohama, Robe, Osaka,
Bank-Boise Inted Avarage amout an 18,000.00
Takao, Timiui, Toon, Helio, Inies
Eestow, Canion.
Semarang. Batavia, Bomber. London, New York, Daizam,
LONDON BANKEES:
AND
FINANCE
watquivalent to an extra 2% per cent on the entre loan,
A very
Agree-
от
TUESDAY, APRIL 8, 1936. ·
FOX FILMS.
pends solely upon the conditions created a situation that compels of the loan agreement and whether the foreign banks to follow the not preference in supplying same methods or loso business. materials is given to the nation This competition between the Controlling Interests furnishing the funds. In the pre-banks resulting from the re.
Sold to Syndicate. sent instance, whore it is hoped markable growth in the past de- that a portion of the British cade of native financial Institu Boxer Indemnity will be used for tions, may, in the end, revolutionise new railway construction or re- time-honoured methods of conduct. habilitation, the materials should ing business in China. all be purchased as a matter of equity from British manufactur
mat-
MR. FOX TO ƉE CHAIRMAN.
New York, Yesterday. Mr. William Fox has sold his Present System Commended. controlling interests in Fox Films This tendency is to be regretted; and Fox theatres to a syndicate
nesa.
to 05-
TRADE INQUIRIES. Lines and Agencies Wanted.
years.
[A New York Message of March 6 stated that it was an- nounced that the ballot of share- holders of the Fox Film Corpora- tloh had resulted in a vote of approval of a £12,000,000 re- financing plan advocated by Mr. William Fox and the Banca America Blair Corporation bank- ing group.]
MINING DISPUTE.
Australian Miners Accept Terms.
[The colliery owners and the -miners are conferring at the re- quest of the Prime Minister, Mr. Scullin, who has asked them to discuss the situation frankly. He has emphasised that a continua- tion of the mining dispute not only affected the financial position of Australia but seriously affected Australian credit abroad,
The conference, after a long and private discussion, decided to put certain proposals before the respective organisations.
China Cutting Out the handsome payment for services era, and an assurance given be as, after all, the present system, headed by Mr. Harley C. Clarke,
which could be performed for about forehand that they will be con- with, all-its-drawbacks, has bean President Middleman.
of General Theatres one-half of one per cent.
With ceded equal treatment. The old evolved by a century of trading Equipment, Mr. Fox will be chair- out going into the details and his purchasing system aroused con- as the only safe way of doing busi-man of the Advisory Board for five tory of how this five per cent, pur- siderable opposition and protests néss in China; the only guarantee chasing commission originated, it from British manufacturers who that the interests of manufacturer is sufficient to point out that the rightly or wrongly, felt that they and customer will be adequately Bident of the Fox Film Corporation, Mr. W. R. Sheehan, the Vice-Pre- Chinese themselves created the were being discriminated against | safeguarded. But, in the koenobiained an order of Court requir precedent on the old Imperial rail-in favour of a few preferred con- competition for ordera and profits, ing Mr. William Fox to show cause ways of North China (Peking.cerns represented in China by the with the world to shop in and why he should not be prevented Mukden line) by entering into a firm closely allied with the official check up on quotations, the Chi- from putting into effect the re- contract with a firm of London purchasing agents.
nese will always have the advant financing plan recently drawn up. engineers to purchase all its re-
Although there was little basis age if they can provide the neesa
Mr. Sheehan has hitherto been quirements in Great Britain.
for this dissatisfaction the candi sary banking guarantees and regarded as one of Mr. Fox's In-
rise to it have facilities for payments and The original loan agreement for tions which gave
are timates, bence his action is regarded the middleman in China and pur- the above railway made up no long since disappeared. To obviate willing to assume the risks in as the Arst break in Mr. Fox's own. chasing direct from the manu- provision for a purchasing com any further cause for protests, it volved in shipping, landing and camp, in the savage financial battle facturers, says The Far Eastern mission. It WAR
clean-cut is not unwise at this time for the delivery of the merchandise. A
for control of the G$300,000,000 Fox. Review, As Mr. Choy is in Lon-financial transaction in which, be- Ministry of Railways to provide If the Chinese railway authori-Flim enterprises. Reuter's Ameri- pardon on a mission connected with cause of the international politics some guarantee that if any portion ties or industrialists can obtain can Service
the use of the British Boxer In- involved, the Chinese Government of the Boxer Indemnity is allocated the financial support and guaran- demnity Funds for new railway was conceded terms lower than it for railway construction, all Bri- tees of responsible Chinese banks | construction, this
step is
could have recolved had the loun un-
tish equipment manufacturers, in placing orders direct with the doubtedly intended to constitute a ❘ been contracted on
A business irrespective of whether or not they foreign manufacturer and accepts guarantee to the British authori-basis. The British and Chinese maintain offices or agencies in before shipment the okay of some ties that the utmost economy will Corporation simply exacted for the China, will be given the fullest op reputable firm of consulting or in- be practised in the expenditure of proper execution of the loan son- portunity to compete. At the specting
engineers that the $20,000,000 any funds released for that pur-tract and supervision. over the same time it is an assurance that material conforms to specifica!
8,000,000
It is a further assurance operation of the line, that they the strictest economy will prevail tions, and ls then willing to as Paid-op
4,000,000 Reserva
that full and free competition will should appoint the chief engineer.in the expenditure of the funds. sume all the risks attendant upon Shareholders
4,000,000 be offered to British manufacturers After the Chinese authorities laid Оп the other hand, until the delivery, assembling and erection Surplus
2,219,000 of rolling stock and accessories, this extra burden on the line, the Chinese Government's finances aro of the plant at the port of destina- HEAD OFFICES SINGAPORE and, everything belag equal, ten- British banking group requested on a more solid basis, with its
tion in China, few foreign manu- Branches, Agencies and Corresponders will be awarded to the lowest that in all fairness it should be credit fully re-established abroad, facturers will decline the busi- dents in the principal cities of the world.
bidder.
paid the same
it would be impractical and un- commission for
His responsibility ends Direct Dealing
performing, the same service in wise to purchase direct from the with delivery of the merchandise The step taken by Minister Sun subsequent railway loan
manufacturer. It may be some alongside the steamer. But no Fo follows a similar decision ar- menti. The precedent once es. years before this ideal stage is reliable manufacturer of en- rived at by the Mukden author- tablished became recognised as a reached; until then, the practice gineering plant or railway
Sydney, Yesterday. ties, who some months ago official-permanent and legitimate charge on of inviting tenders in China where equipment who hopea
The coal miners of Adamstown by ly advised interested parties that subsequent lines and a source of proper guarantees for financing tablish
412 votes to 279 have accepted the a permanent business profit to the bankers of all other the orders are available, is the in China could afford at this junc-four others have rejected them. November compromise terms, but Chinese railway construction. countries advancing funds for most judicious course to pursue. ture to accept any important en-
It is possible that the Mukdengineering contract that does not Further meetings will be held to- The Chinese on many occasions authorities, operating independently carry with it assembling or erec- morrow.-Reuter. have pointed to this purchasing of Nanking, may have the ready tion of the plant by their own ex- commission as an instance of how materials on their delivery along-sion of guarantee for Its efficient funds to make cash payments for pert engineers and some provi- they have been unfairly treated by international finance, and aside the steamer in Europe or operation over a stated period of their authorities have never con- America, but even this procedure time. This calls for service that fessed to their
is not to be commended, unless the own shortsighted.
can only be rendered by maintain.. ness, this impression has been materials have been properly ining an office or an agency in China. permitted to take root and grow, spected and accepted by an agent until now it is commonly accepted
of the Government before ship- by the Chinese as one of the most
ment and payment. No flagrant abuses on the part of ter how much is said for this sys- "foreign financial Imperialism." tem as a business proposition, it Precedent Created by Chinese. only tends to complicate and con- Will Prove of Inestimable Value.. That a five per cent. purchasing fuse the general political situation Mukden's programme is that all commission is somewhat excessive and make for a loss of prestige of purchases will be made against
can be the Central Government and its is true; that is all that irrevocable letters of credit and said against it.
But it is well to Ministry of Railways. If the Chi- the shipments mode c.l.f. Dairen; remember that it was never denese ration is now unified and the Chinese railway authorities manded or imposed by the foreign Mukden acknowledges the supre- Maaz. Reichenberg, wish to
Czecho-Slovakia-Messts. Robert taking charge of the shipment at bankers as a condition to a loan macy of the Central Government, tablish connections with exporters THE BANK OF CANTON, LTD. the port of entry and satisfying agreement until the Chinese them any independent railway activities, of Chinese Merchandise.
the existing regulations and pro- selves created a precedent they either in purchasing for or in the cedure necessary for importing the were quite willing to follow in all construction of state railways, im-berg. 33, Newman Street, Oxford equipment. The Mukden author subsequent loan
plies that this allegiance is a St., London, W1, seek to appoint transactions. Autorised Capital (HK. Currency)...11,000, tics state, in effect, that in the past Times and conditions have chang Fald Up Capital
their purchasing field has been cir- ed.
agenta for the sale of Balkani Future railway loan agree cumscribed and
Sobranie cigarettes and tobaccos. Rise From Bookkeeper limited to aments entered into between the There is every evidence to supe choice of those comparatievly few Chinese Government and respon- port the statement
Mexico-Messrs. Tomas Hino- American railway material manu-sible groups of foreign
that Mukden, josa, Ave. Centenario 52, Tampico, bankers while professing allegiance
to Tamps, Mexico, seek to establish facturers having agents in China, will be devoid of international Nanking considers Itself
auto-connections
Boston, Yesterday, and that this system has deprived politics and negotiated as a clean.nomous, if not independent, when shark fins.
with importers of
The death has occurred, of Mr. them of that free scope of competi-cut business proposition. *Bela Deposit Bozae (vertice kom) at a yeaction essential to economy.
The it comes to negotiating loans for
W. P. G. Harding, Governor of the Eritish Colombia-Messrs. T. H. Federal Reserve Bank of Boston and read of Eros 0.10 $40.
The banking group. acting on behalf new railway construction attitude of the Mukden authori- of ita prospective bondholders, will financing of large orders for its bis, desire to establish connections Board. Reuter's American Service. : LOOK PHONG BEAN
or the Klang. Penticton, British Colom ex-Governor of the Federal Reserve Chlef Manager ties is important, inasmuch as Insist upon the strictest economy railway requirements. As long with
their purchasing covers nine Chi- in construction, in order to reduce as the
Importers of Canadian Mukden Government nese operated railways; lines now the capital outlay to a minimum. pay cash there can be no objet- in their infancy and capable of There will be no provision or room tion to direct dealing with Ameri-P.O. Box 460, Stamboul, seek to ez- Turkey.-Messrs. Panos D. Stais, great extension and expansion. for "squeeze" or any diversion of can manufacturers, but when the tablish connections with Hong Kong
This new policy of the Chinese loan funds into the pockets of question of its credit is involved railway authorities in Nanking and favoured officials, or for undue and its bonds or notes are offered Mukden, affecting as it does the profits to the bankers or their payment, the transaction is Lechien & Co., Charleroy, Belgium, Belgium, Mesura. Edgard business of every engineering firm friends. There will be no pur- fraught with grave risks. special charter of The National Gov-in China, although now in its chasing cornmission set aside for fact, these notes or-bonds could Kong for the sale of textiles.
wish to appoint an agent in Hong IN NEW YORK: J. P. Morgan &ernment as an
initial and formative stage, is a the bankers or any firm designated not be offered for sale on the open Ca; French American Banking Cor INTERNATIONAL EXCHANGE
contingency that must be reckoned to act for them as such.
Perth. Tha Java Traders, Ltd., market in Europe or America with 9, Surrey Chambers, St. George's poration; Guaranty Trust Co. of Now.
with. The tendency of bath Gov. York.
The Chinese Ministry of Hall. out automatically inviting Subscribed Capital....$25,000,000.00 ernments towards concentrating ways will insist upon the right to official opposition of the various and prices c.l.f. Freemantle, for the Terrace, Perth, ask for samples Interest allowed on Current Au- | Pald-Up Capital
STANDARD TIMES $24,710,200.00 all purchases under one agency make its own purchases in the Governments signatories to counts and Fixed Deposita according Reserve Funds .$ 3,820,503.82 and financing their own orders open market.
the No. I quality hand-made seagrass, to arrangements.
whenever possible is traceable to lest and
To obtain the ful- Consortium Agreement. For any Japan. The Saji Trading Co.,
Sanrise and Sunset In Hong freest competition and of these Governments to sanction No. 161, Motomach! 2-Chome, Kong for April (Standard time a desire to seek a wider competi-rockbottom c.l.f. prices, the tenders or approve of the issuing of such Kobo, seek to establish connections of the 120th Meridian, East of tlon than now seems possible by may be advertised in London and provincial obligations on their rewith exporters of fancy goods and Greenwich) are as follow:- restricting their purchase through New York, so that every approved spective financial market the manufacturers actually re railway material manufacturer in equivalent to recognising the politi.
Is importers of sundries from Japan. presented in China. Although the country furnishing the loan cal independence of the provinces. Khan, 14, Prince Alfred Street,
West Indies.-Messrs. Ahamad April Owing to our numerous branches to the placing of such orders direct will enjoy an equal opportunity to Direct purchasing may have its San Fernando, Trinidad, B.W.I China and large connections in the with the manufacturer through an compete.
advantages where the various rail- seek to establish connections with THE YOKOHAMA SPECIE BANK,,ane able to extend to our London or New York will operate of a Chinese Government Railway cash or can provide irrevocable etc.
important commercial centres of the official purchasing office located in The establishment at this time way administrations have the exporters of silk goods, curios, clients special facilities for domestic to the disadvantage and foreign banking and exchange.
of local en Puchasing Agency in New York letters of credit to guarantee the Maalin-Messrs. R. E. Whit We also handle the issue of Bonds gineering firms, it can be seen how or London, while premature, can terms of payment to the manu- combe, P.D. Box 980, Manila, de- and other Public Funds of the Chin it will prove of inestimable value only be taken as an indication that facturers. In the latter case, Itsire to get in touch with Hong Capital (fully paid-up) Yen 100,000,000 ene Government both at home and to the Chinese Government, when the Railway Ministry is strengthen- is simply a question of whether a Kong firm who would export wild
Yen 112,500,000 abroad.
the time arrives to solicit foreign ing its credit position and paving responsible bank is willing to game. financial assistance in the con- the way towards the elimination of nance the railway administration Milan.The Officine Meccant- 18 atruction and equipment of a new any future purchasing commis or provincial government, in pre- che Stigler," No. 46, Via Galileo, system of State railways.
Banks and Commission.
♫ Shane všom kurs sala deposit boxes to lak, London Bankwey:-National Provinsial Bank Lel
Pærerpondente all'over the world
Banking busiasm of every description reached.
P. M. ELBEDO,
Kong Hung, Fish May, 1019,
BANQUE DE L'INDO - CHINE.
HEAD OFFICE:
96, Boulevard Haussman, Parin.
Subscribed Capital Frs. 72,000,000.00 Paid-Up Capival .......Fr8, 68,400,000.00 Reserve Funds ....Fra.102,000,000,00
BRANCHES:
Bangkok Hong Kong Quinhon Battambang Hue
Cartha
Canton
Djibouti
Saizon
Mengtze Shanghai Nam Dinh Singapore Neumea
Fort-Bayard Papeete
Thanber
Tlentain Haiphong Peking Tourane
Pnon-Penh Vinh
Hankow Налог
Fondicherry Yuznaníu BANKERS:
IN FRANCE; Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas; Credit Industrial et Commercial; 80- ciete Generale,
IN LONDON: The National Pro- & Union Bank of England, vincial Ltd.; Comptoir National d'Escompte de Paris; Credit Lyonnais.
Every description of Banking and Exchange Business transacted.
Safe Deposit Boxes to let.
A. LECOT,
Hong Kong, lat May, 1929,
LIMITED.
Established 1860.
Beserve Fund.
Manager.
Head Offices-YOKOHAMA,
"Branches and Agencies at: Alexandria
Nagoya Batavia
Newchwang Bombay
New York Новов
Oinka
Exemporary
Calentis Canton
Changchun
Dairen (Dalny),
Tangtien (Mukden)
Hankow
Harbin
Hong? Honr10th
Feking
Sha
jaya.
The London County Woularter and Parr's Back American manufacturers.
The Bank has Correspondents in all the peta. sipal Commercial Centres throughout the wheld.
1. NAGURA
HONG KONG BRANCH:
1, 2 Youtz Hoad Centesi. Kong Kong, 19th January, 1920,
Established 1912.
Head Office:-Hong Kong.
Bountys Fund mimarinaema SAD-4000
BRANGHIS
Canten, Bhangal, Bas
60,0
Supon
Bangkok, How Tick and a Franco
LONDON BANKERJ 1- -
The Lloyd's Bank Limited. CORRESPONDENTA
In all principal cition of the Woctă.
Foreign szobangs and banking besitas of
svery description, transarted.
Hong Kong, 19th February, 1927,
THE BANK OF CHINA. 行跟國中
Reorganised October 20, 1928, under
BANK
HEAD OFFICE: SHANGHAL
HONG KONG BRANCH:
4, Queen's Road Central.
SHOU J. CHEN,
ong Kong, 5th March, 1930.
Manager.
KASHMIR SILK STORE
EXCLUSIVE STOCKS
SILK
ivostock
SILK GOODS
44
fiction.
Is Mukden Autonomous?
The following Hat is published by the General Chamber of Com-
merca:
€9-
London-Messra. Albert Wein-
can apples,
In
firms importing dried fruits.
I
It is generally expected that the miners will resume work on a basis of a reduction of twelve and a half per cent. In hewing rates and of sixpence in daily wages. These proposals were agreed to on November 29, but were aubse- quently rejected by the men.]
BANKER'S DEATH.
to President.
[Mr. Harding was born in Alabama in 1864, and began his commercial career as a clerk and bookkeeper in a private bank. In 1896 he rose to become President of the Berney National Bank, Birmingham, Ala., Governor of the Federal Reserve Bank of Boston In 1928, and Managing Director of the War Finance Cor- poration 1918-19.)
Sunrise Sunset.
&
0.11. 6.10
P.I
6.41
9
6.10.
C.41
10
6.09 '8.41
11
·6.08- 0:42
12
6.97 6.42
18
6.05 6.42
.14
6.00 6.43
16
6.04 6,49
16
·6.08.
6.43'
17
6.02 6.44'.
0.01
*8.44
IB
6.01
0.45
The question of how and where no long-time credits are involved, purchases. of materials are to be there are many banks who would
Milan, seek representation in Hong
20
6.00
6.46*
Kong for the sale of electric lifts.
21
·6.59:
6.40
Ivory Waro-London connection
-22
5.58
6.46'
23
5.58 6.46
24
5,57
26
6.47 5.56 6.47
28
5.55 6.47
27
5.55 6.48
28
5.54
29
80
6.48 5.58 0.48 5.52 6.49
27
sion in loan transactions.
ference to a commercial firm.
In the past China has paid to the banks issuing her railway made will undoubtedly become a be willing to finance these direct of the Sino British Trading Co., loans a flat five per cent par matter of negotiation, and if the orders and make the proft that of Tientsin, seeks to establish con- chasing.commission on all material loan is raised exclusively in one would otherwise. accrue to the nection with exporters of ivory purchased abroad. This addi- country and provision made for middleman. There is increasing and walrus carvings. tional perquisite to the bankers preference to the materiale of that evidence that some foreign banks Kobe The Tatsumiya Tape country, the establishment of and willing to underwrite such Manufacturing Co., Ltd. of Kobe, purchasing office in its capital will direct duancing of orders for seek to establish connections with THE INDUSTRIAL & COMMERCIAL be stipulated as part of the bar materials and assume the risk importers of cotton typing tapes,
· BANK LIMITED.
gain. On the other hand, if the themselves, rather than lose a advertising tapes, etc. (Samples loan is contracted through an in profitable piece of busines that with Chamber:) HEAD OFFICE:
ternational group of bankers, might go to a competitor financ- Persia, Messrs. George ‚¿12-14, Queen's Road, Central,
tenders will be fatited In Cirina.
ing the middleman,
Travani Bros., Shiraz, Fersta, seek Tampe, Mexico; seek to establish Kong Kong..
Strong Adverse Arguments.n
Once the banks enter falo com- to appoint a buying agent for China connections with importers of BRANCHES
Viewed from this angies, the petition of this business and ac Tea. Unter Shanghel, Hankow, Canten
opening of a purchasing agency in cept the guarantees of the Chi- London has much to commend it, nese purchasers of materials, the Eongmoon
notwithstanding that there exist
for CORRESPONDENTS'
trong and convincing arguments incipal cities of the world, why all the purchasing should be commercia dertription of aking and concentrated under com
of the Ice of the
idualų.
ر؟
above.
Switzerland. The Industries
Amritsar.The National Trad- Chimiques S.A., Chiasso, Switzer Ing Co., Karta Ablawall, Amritsar. the land wish to appoint arents for sale India, desire connections" "with" im Asof the In China of "Protbesa:
èra? of^precious stones and ex- Scotland Well-kno
ters of Jade AWAY tarefa brewers seek representation
Bin The Unélo Provinciale spparent Kon
Economia 'dig. Milano; „Milan, blish retallock, with exe
business
Wa Central Purchasing
Ministry of Railways in China that ENKU K. LIN, GE
General: Mangur. - The wisdom. of such & step. de Chinese banking Institu
is quite
quer Apartado
18802
No comments yet.
Private notes are available after approval.