1930-04-14 — Page 2

HONG KONG #ND SHANGHAI BANKING CORPORATION.

Betkorinsä Ospital

mammes $50,000,00

Jured and Wifly Paid-us $20,000,00

THE CHARTERED RANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1852. HEAD OFFICE: LONDON.

-Berting

---------€6,100,000

Paid-up Capital

£3,000,000

texa nou Barve Liability of Propelatore $30,000,000

READ OPFISE, HUNG KONG

Reserve Fund

.£4,000,000

Reserve Liability of Proprio.

tors

...$3,000,000

ALOB STAN

(Malay Baloc'

AMRITSAR

BANGKOK

BATAVIA

Agencles and Branches:

BOARD OF DIRECTORS:-

J. A. Plummer, Esq.

W. IL Bell, Kɔy.

Chairman,

CC). N. Mackie, Raṛ.

Deputy Chairman.

A 1. Compinu, Bing.

Lander Lowių, Bug

U. Miskin, x9.

1, J. Paternon, Em.

T. E. Fueros, Raq.

T. 11. J. Maw, Enj

J. P. Warna, Kaj.

Artlog Chiel Mannger,

V. 21. Käriyhten, Yaz,

FRANCHIES:-**

LONDON

BOMBAY

CALOUTTA CANTON САМУРОДИ CEDU

ANOT

ΚΑΝΟΠΟΙ

BATAVIA

BOMBAY

CALOUTTA

DINTON DELFOO DILEKBO

DAROW

косноя

HALPHONO

HAMBURG

LYONA

HALACOM

MANILA

METALL (Palma)

· TAGABAZI

MURDEN

NEW YORK

PEIPING

PENANO

RANGOON

HARGION

BABKOW

HAN FRANCISCO

HAUBIN

BILANGHAI

KONGE W

SINGAPORE

ILOILO

NOURADAYA

пон

KUNDEL FATANI

JONOR

TIENTUIN

XO

FOKTO

KOWLOON

KUALA LUMPUR

TNINGTAO YOKOHAMA

Buren Avonle opsoed by "Local Cummary sad Fixed Deposite received for one you of checter periods to Loral Currency and Biodinat su tema which will is quoted be application. Hong Hung, but. April, 191,

HONG KONG SAVINGS BANK.

The Business of the above Bank le conduck by the KONG KUWQ AND SHANGHAI BANKING CORPORATION, Bulan may b sbtained on apptlexikon.

FOR THE HONG KONG • BXA NOWAY JANKING CORPORATION.

V. 36 (BAYBURN,

Arting Chilel Sannger.

Hong Kong, 17th March, 150,

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(RETIIRKLANDS TRADING BOGLETT) TAXIEKA

Establbbed 1994 Les In Offer 2-11 Ozeen's Road Ceil Anthorised Capital Ouilders 180,000,000- (2.13,500,000.) Fald-Op Omplied Quilla 10,000,000

(20,666.807.) Basseva Fund .................. Gullders 40,000,000

(£1,101,113.) Land Off (AMSTERDAM'), Eastern Food Oßes :--BATAVIA.

AK HOLES:-Bandirmasla Bandbang') Bombay,

Calcuna, Charikon, Djember, Djok jakacia) The

Mañas, Padang Falembang, Pekalongan, Penang. Penkianak, Bangoose! Butundana"). BRA)

thanghai, Bibotes

Persbau (Bamai). Slagspor

Bowstars (solo), Tegal, the and Waliorralan.')

These afines kara sala depoel bozes to let. -Lizden Bankers-ational Provitoial Bank Ltd.

BareMpondania all ovat, tha world

Banking basinass of avery

description transacted.

P. 3. ELBEEG

Manager.

.BANQUE DE L'INDO - CHINE.

HEAD OFFICE:

96, Boulevard Haussman, Paris.

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

Bangkok

BRANCHES:

Hong Kong Quinhon

Saigon Shangba!

Battambang Hue

danthe Alengtza

Canton Nam Dinh Singapore

Djibouti Neumes Thanhea Fort-Bayard Papeete Tientain

Haiphong

Hankow

Peking Tourane Pnom Penh Vinh Hanoi " Pondicherry Yunnanfu

BANKERS:

IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas; Credit Industriel et Commercial; Bo- ciato Generalo..

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

IN NEW YORK: J. P. Morgan & Co.; Franch American Banking Cor-

poration; Guaranty Trust Co. of New

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,

Hong Kong, lat May, 1929,

LIMITED.

Manager.

COLOMBO

DAIBEN (Dalay

South Hinsharia)

DELII

HAIFUOKO

HAMBURG

HANHOW

HANDIN

BONO IONO

ILOILS

(N. Manchuriaj

IPOG

KAHACH.

KLANG

KOOK

KUALA KANGBAR

Pacat (P.8.)

KUALA LUMPUR

KUORING

MADRIB

MANILA

MEDAN

NEW YORK TEEING PENIND PESHAWAR HANGOON BATOION

NEM BANG SERENDAN SHANGILAL SINGAPOAR

SOURABAYA

TAIPING

(V.M.M.1

TAYI

TOXYO

TONGKAR (Baukes, THINGTAO

YOKOHAMA

ZAMBOANGA

(klippies Islands)

THE CHINA MAIL.

COTTON INDUSTRY.

COMMERCE

Longer Hours and Lower Wages in Japan.

AND

FINANCE

the operatives' unions could be ob- tained.

Double Shift.

He was looking forward, said Mr. Pearse, to the support of the Gov ernn.anf Board of Inquiry, trusting that they will realise the justifica- tion for the two-shift system and make a recommendation to the cot ton, operatives* unions. There were, no doubt, some who world be of the opinion that the working of double shift would create a glut of goods, as even now, with short time, they could not sell their pro- duction.

The promiscuous affect upon the Lancashire cotton industry of the working of only a single shift was stressed by Mr. Arno S. Pearse, secratary the International

of Federation of Cotton Spinners' and Manufacturers Associations, in a paper read to the members of the Liverpool Cotton Trade Institute.

Mr. Pearse has recently accepted Current Accounts opened and Fix.4n important post as adviser to a ed Deposits received for 1 year or firm of raw cotton merchants ined to be that they would seli much ahorter periods at rates which will Egypt, and is at present out of Britain. In his absence his paper, be quoted on application

which was entitled "The Japanese Cotton Industry," was read by Mr. Percy Brasendale, chairman of the Cotton Trade Institute.

Foreign Exchange and General Banking business transacted.

A. H. FERGUSON,

Manager. Hong Kong, 8th January, 1929.

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

Authorised Lained

Paid-up

CAPITAL

Reserva Liabilitics

Shareholders Surplus

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

Mr. Pearse opened his address with a survey of the development of the cotton Industry of Japan from 1868, the year in which that country was thrown open to the ..$20,000,000 world, and he noted the amazing 8,000,000 growth of her loams and spindles, 4,000,000 with the special dexterity of her workers in handling fibres destined 4,000,000

to be woven into cloth. He observ. 2,210,000

ed the large labour supply of Japan, workers willing to labour long hours and for low wages, dus to the depression in agriculture and the pressure of her population, and the high standard of the directors of her industry, well versed in bigh dnance and equipped with the best technical knowledge, obtained in a large number cases by 10 or 20 years of training in Britain and America. He was loud in praise of the Japanese automatic 'loom, known as "The Toyoda," with its unique features, roller bearings and chrome plating, capable of high speed.

Every description of Banking and Exchange businesa transacted.

TAN ENG HOOL,

Manager. Hong Kong, 16th May, 1929.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO),

HEAD OFFICE:-Talpeh, Formosa,

Incorporated by Special Imperial

Charter, 1899.

Central Bank in Zumpen, Bank-Hotse inted Average Amouma en

BRANCHES AND AGENCERS JAPAN (—TOKYO, Yakuhazsa, Kabe, Ganka. FORMOSA-One Eag, anko Taka Tanani, Ton. Halo, Tal OKINA

Hankow

45,000,000

Kakang. Neulo Bhimchika, bu, Taisen,

Mr. Pearse stated that it was cer tainly due to some extent to the low wage that Japan had been able to compete successfully with Europe, but much more so to the absence of Ay, Tookes, trades union restrictions, eunbling slow OTEDERS-Hodg Singapore, Borsby an operative to produce more per

Bewang

Lombay, Caloutta, Londra, Haw York Dara

"caput" and

especially LONDON HANKEDS:

Lo the

of the ability The Loxides County Westminster and Parr's Beat, Gwing

mills to "Oweat" the machin- The Deck has Correspondents in all the prisery by running it 17 hours out of 124. while In Britain they were

of Commercial Chairan throughouah the work.

| HONG KONG BRANCH:

K. MAGURA

_k. Der Youux Bad Central Hong Kong 10th January, 1822,

Mag.

more

not allowed to use them more than about 7 for productive work, tak Ing into consideration the stoppage:

THE BANK OF CANTON, LTD. due to cleaning. He was certain

Established 1912.

Head Ofice-Hong Kong.

1,004,306

Aulsorleed Capital (H.K. Overenty) ......$11,000,000 Paid Up Ceplied......... Kansere Fond

• 1,000,000 BRANCHES--__ Canton Shanghai, Haskow, Slow, Bangkok. Naw Tek and Ban Frandes

LONDON BANKERS 1.- The Lloyd' Bank Limited. COPAYAPONDENTA

In all principal vities of the World. Focal exchange and beating budnawe of Start dinapilo sratreosed..

Bais Deposit Boxes Parisui inn) at a yearly reat of from to $40,

LODE PHONG PHẢN

Chief Manager,

Hong Kong, 8th April, 1930.

THE BANK OF CHINA,

行銀國 中

..

To this the reasoned reply seem

more because their goods would be cheaper. They had lost many markets because they introduced short time, as by doing so, they! increased the cost of their goods by 10 to 15 per cent. Short time had been proved to be an out and out failure, while the double shift pro mised to be a success.

He ven-

Double shift could be introduced all at once throughout the whole of Lancashire's cotton industry, but the more general adoption of double shift would come by degrees. In the Arst instance it should be ap plied to all goods sent in the grey! to Far Eastorn markets. tured to say that there was no in- dustry producing staple goods and using costly machinery such as in the cotton industry which did not work longer hours than eight per! day, and the cotton operatives' unions were, to his knowledge, the only ones insisting on "no overtime and no double shift."

Longer Hours Essential. Pressure was wanted from the Government to make them realiso

that their refusal to work longer

hours was the main reason of the present inability of the Lancashire cotton industry to compete in the world's markets.

Unless they obtained the hearty co-operation of the trades unions in this establishment of double shift. and of relaxing restrictions where had been introduced, he could not new and labour-saving. machinery foresee any improvement in Lanca shire's staple trade; one mill after

another would be bound to yield to countries where the two shift syn- force tem and overtime were in with the consequence of unemploy ment or, at the best, partial employ. ment with reduced wages.

The operatives, concluded Mr.

Pearse, were bound to realise, if

the Japanese could not have built up their cotton industry on an 8-guided by their leaders, that double hour days, and furthermore, there

shifts offer the only means of the was no doubt if the British opera-under mora pleasant factory con possibility of increased earnings tives would allow the mill-owners

to work double shifts and take off ditions (shorter hours and improv the restrictions as to number of ed machinery than heretofore. machines por operative, Lancashire would again be able to compete sue- cessfully..

Further Economies, Further economies should be brought about by improving the cot- ton mixing, providing the operatives did not restrict the number of machines per opérative. What would be the use at present to im- prove the quality of yarn if one know beforehand that the operative would attend only to the same num- ber of looma? It would almost be

MERCANTILE BANK.

16 Per Cent. Dividend For Year.

The following is the thirty-

MONDAY, APRIL 14, 1930.

THE GREATEST EVENT EVER HELD IN HỒNG KÔNG.

AT THE

THE OUTSTANDINGI SPRING FASHIONS

WILL BE DISPLAYED BY

FOREIGN AND CHINESE

SOCIETY GIRLS

at a

DAZZLING

FASHION

PARADE

WING ON CO., LTD.

DES VOEUX ROAD C.

from Saturday, 12th April.

Friday,

GRAND EXHIBITION OF SILKS, ART. SILKS, VOILES & FANCY DRESS MATERIALS, SUITABLE FOR FOREIGN AND CHINESE

DRESSES.

This Unique Display of Spring Fashions will be held Daily during the above period at the following

times,

Saturday, 12th. from 7 p.m.

: to 8 p.m. Sunday to Friday, from 3 p.m. to 4 p.m. and 7 p.m. to 8 p.m.

INSPECTION IS CORDIALLY INVITED,

SCOTTISH INDUSTRY.

Effect of Budget Uncertainty.

Scottish industry ands itself af seventh annual report of the board feeted by politics at many points at of directors to the shareholders of present. The coal trade is unset- the Mercantile Bank of India, Ltd: tied because of uncertainty as to The directors submit to the sharathe outcome of the legislation new holders of the bank the general before Parliament. The iron and

to

18th April.

in drawing up a letter for sub employing their most sarcastic ad- miasion to the Secretary for Scot-jectives in condemnation of this land and other members of Parlia- policy, although it may be taken for ment. The corporation are draw-granted that, in due course, when ing attention in their letter to the the Bank rate goes higher, they will benefits derived from the Incidence write no letters thanking the bank- of the sugar duties and the serlers for Increasing the deposit re- ous consequences feared from inter-ceipt rate by 1 per cent. more than ference with the existing scheme, the overdraft rate.

is Request

also made by Tube Trade and Export Scheme. the Corporation that. should Holders of shares in Stewarts any change in

the

duties and Lloyds, Ltd., the big tube pro- be contemplated it should be given | ducing firm, express much satisfac-

before the Chancellor of the Ex. tional Tube Cartel of its expert chequer,

agreement. This agreement, which Clyde Lower Reaches Busy.

applies to practically all the tube Were Greenock assured of a con- producing countries in the world, tinuance of the protection the sugar provides, for a period of two years, refining industry now enjoya, it for minimum export prices and a would be able to look forward to limitation of imports of tubes into the remainder of the present year the home markets of the participat with a fair degree of confidence. ing countries. Although Stewarts

Reorganized October 28, 1928, under a waste of money to improve the balance sheet and statement of pro- steal trades are hoping that some the opportunity of laying its views tion at the renewal by the Interna-

special charter of The National Gor-yarn.

ernment as an

INTERNATIONAL EXCHANGE

Paid-Up Capital Reserve Funds

BANK

HEAD OFFICE: SHANGHAI

HONG KONG BRANCH:

4, Queen's Road Central

and foreign banking and exchange.

Before the international

fit and loss account for the year thing to their beneft will result from the investigations of the Civil All his visits to first-class mills ending December 31, 1929.

The net profits for the year, after Research Committee, but realise in Europe, USA, and Japan, stated Mr. Pearse, had proved to him providing for bad and doubtful they can expect nothing in the way. Subscrbed Capital ....$25,000,000.00 abundantly that an operative might debts, and including £102,046 176. of safeguarding from the present Distillery, artificial $24,710,200.00 be doing much less actual work by 8d. brought forward from last ac Parliament. $3,820,503.32 attending to twice as many ma-count, amount to £419,505 11s. 4d silk, motor, sugar, clock, and vari- chines with an improved cotton From this sum has to be deducted ous other nterests are all waiting to mixing than with the union restric- £84,000, being the interim dividend see what the Budget may have in tions might have been all right a of 8 per cent., icas income tax, 00 store for them. The doubts and

On the authority of the President and Lloyds paid a dividend on tho generation ago, but they had be the "A" "B" and "C" shares paid misgivings and hopes and fears

of Greenock Chamber of Commerce, deferred shares of only 5 per cent. come obsolete with the modernisa- in September last,

that consequently permente numerit may be stated that in shipbuild for 1928, the quotation last year did ion of mills, and, as no country In The directors have added £30,000 ous trades and traders are un- Owing to our numerous branches in the world had such savere restric-to the reserve fund (raising it to doubtedly having a detrimental of-ng and engineering the town is gat not go under 248., and the fact that ting a good share of the work it has now recovered by several China and large connections in the tions as Britain, they must, to a $1,480,000), £15,000 to the officers fect upon business, and this con- available, and, with the exception shillings from that price indicates THE YOKOHAMA SPECIE BANK, world, we are able to extend to our great axtent, blame the unions for pension fund, and written £40,000 dition of affairs is reflected in the of the yard of Messrs. Harland and that the market is fairly hopeful

important commercial centres of the Mons special facilities for domestic the tardy introduction of modern of freehold banking: premises continued lull in speculative eater Wolff, which remains closed, the of the amount of the payment for

machinery, particularly of auto- They now recommend a final divid prise on the Stock Exchange. Ono shipyards have sufficient work to 1929. We also handle the issue of Bonds matic loomas.

end on the "A"; "B" and "C"" shares stockbroker expreased the view keep them well employed · for at agreement was first made a year and other Public Funds of the Chin One additional important advan- of-8 per cent, less income tax (make that it would be a good thing least the next twelve months. The ago, the tube trade suffered from ese Government both at homo and

tage accruing from the double shifting 16 per cant. for the year), leave for the country if it could sten for engineering works are stated to be fierce competition and severe price abroadl

SHOU J. CHEN,

Was that machines could be reing a balance of £100,505 118. 4d, toward by two months, and learn the in an even better position. The catting. Since then it has found Alaager placed in 10 years, during which be carried forward.

period. more efficient ma Agencies of the bank have been get and other legislative matters, Greenock Harbour Trust has in its position much more comfortable.

hand important schemes for exten chire" has been invented, but opened at Kuala Lipis, Pahang, and as it might then be in a better posisions and improvements at the port,

tion to settle down to business. not

much with the one Kuala Krai, Kelantan.. 60

schemes which, in the opinion of THE BANK OF EAST ASIA, LTD. shits system The inability to work The following directors retire by Sugar Duties and Employment the Chamber of Commerce, would double shifts was undoubtedly the rotation, but, being eligible, offer In pleasant contrast to some of major trouble from which Lanca themselves for re-election-Mr. the other industrial, centres in be remunerative, and give a large amcunt of employment to Greenock

Youngstown, Saturday. shire was suffering. It was this 3.0. Robinson and Mr. W. H. Shel Scotland, there has during the past workmen.

Stockholders in the Sheet. Tube Saving, which could be readily ap ford 18 months, been an actual diminu-

An Overdraft Complaint.

Corporation have ratified the steel $10,000,000 piled the hearty co-operation of It will be necessary to appoint tion in the unemployment figures

Whenever the Bank rate stands merger with the Bethlehem Steel auditors. Mesers Cooper Brothers in Greenock Poor roller payments at 412 per cent. a flood of criticism Corporation. This means the pass- and Co. and Messrs. W. A. Browne are now less by about $1,600. The is unloosed on the Scottish banks ing of one of the last of the Import- THE INDUSTRIAL & COMMERCIAL and Co. the retiring auditors, offer improvement (In the position and the present occasion is no ex ant independent steel companies In themselves for reselection, largely due to the recovery In the ception. With a Rank rate higher America Reuter's American Ser

sugar refining industry which re than 1% per cent. the Scottish vice. suited from the assistance given in hanks lend money on secured over TOKYO STOCK EXCHANGE.

the 1928 Budget. Last year the draft at a charge of 21 per cent. Many visitors made a pilgrimage tonnage of raw sugar imported to above the deposit receipt rate. But to the Paris hotel in which Primo Greenock, showed an increase of at the existing Bank rate thay de Rivera died, in order to pay last pared with the pre- widen the difference to 3 per cent tributes of respect to the former

anxiety. That is to say, Scottish borrowers

Dictator.

Established 1830. Capital (fully paid-up) Yen 100,000,000. Reserve Fund. Yeu 111,500,000

Head Office>-YOKOHAMA, -

Branches and Agencies at:

Nagoya Newchwang New York Craks Poking

Alexandria Bataria Bombay

Buenos Ayris (Temporarily

slowed). Calcutta

Canton d

Changchun s

Влагост

PpRio, de Janeiro

Raigon

Dairen (Dairy) E Francisco Fongilen (Mukorn) Beats

"Hamburg. A

Hankow

Hoa Long

Honolutar

Karachi:

Angeles

Hong Kong, 6th March, 1990.

HEAD OFFICE: HONG KONG. 10 DaVoeux Road, Centra),

Authorized Capital” Pald-Up Capital Reservs

A

BRANCHES AND AG BataviaMelbour Bombay Nagasaki Calcutta New York Canton -Osaka-

Haiphong. Pärla Honolulu #Palpine. *Eobat, *?:Penkng Landon

*Kowloon de

BANK LIMITED-

Singapore Sourabaya

HEAD OFFICE:

12-14, Queen

Road, Centr

arkon

and best and the worst about the Bad-

Vidus year

“ar paying, for;

STEEL MERGER,

anda)

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