1930-05-08 — Page 2

HONG KONG AND SHANGHAI BANKING CORPORATION.

Auskariood Cepita). .............. @40,000,05.8 Sneed and Fälly Paidrap Basara Punda (in

Curling plazonam£§,100,100

90.000.000

Basser Liability of Progreke. $30,000,000

HEAD OFFICE; anvɑ koju

BOARD OF DIRECTORS |--

1

JA. Plumrome, Eng.

Chairmao.

Hon. Me. 1, (La), Mirekia

Deputy Chairm

W. H. Hell, Kry.

ji, Lander Lowing Monty.

A. HI, Comptamn, Boy,

Blon. Mr. J., Paterson, )

T. P. Pracow, Bag,

T. H. R. Shaw, Kay.

J. P. Warren, Eer.

6. Minki, K

Avilig Uhed M 16.08. V. M. tingling, Kuj.

BRANCHES:-

LONDON

ANOT

WANGKUK

RATAVIA

BOMBAY

ULICUTTA

BANTON

LYOAN

Brat.ACCA

KANILA

AKDEN

"ŠĻUAB (Jakoa»)

-NAGASAKI

BOLUMBO

.NEW YORK

DAIBEN

PEPING

ORETOD

POOLDOW

MAIRONG

HAMBURG

MANKOW

HABBIN

KOZOIEW

ILOILO

Кон

JOTORE

KUSE

LUWLOON

COALA LUMPUR

PENANG

BANGOON BAKCION

MAN PRANCISCO

SHANODAT

SINGAPORE

SOL RABATA

SUNDEL PATANI

TIENTSIN

[URTO

TNINOTAU

YOKOHAMA

Ourant amounts opened in Edent Currency and Predispostia revolved for one year charter parlada in Loca! Ouerincy and Herling mrpe which will be quoted on application. Hong Kong, Ant Apali, tácko.

HONG KONG SAVINGS BANK.

The Bustnym of the show, Bank- la condunt. by the 1ONG KONG AND SHANGHAI BANKING CORPORATION.

abisloed on application.

Bu g

FOR THE LOND KONG GRANOHA BANKING CHEFORATION,

V. M. GRAYBURN,

Acting Chilot Manager,

Hong Kong, Vil Mach; ha52,

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

INETHERLANDS TRADING BOO)ETY) BANKERS

Established 18SA-

Easy Long Once:-11 Queen's Road' Capteal Apskating Capital

Quilders 150,000.

£19,800,000.)

Folk-Up Capitular 06,000

Katarts Fuck momas Hallders 40,000,000-

(25.05.007.)

(£3,335,380.)

Ben Uce:-(AMS)ERDAM”). alarm Bond Uño --BATAVIA. SAHUM-Bandera Band Bombay.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1853.

HEAD OFFICE: LONDON. Pald-up Capital

Reserve Fund

...£3,000,000 .£4,000,000

£3,000,000

Reserve Liability of Proprie

tore

Agencies and Branches:

KUALA LUMPUR

ALOR STAR

(Malay Blatoo

K BOJLING

AN HITNAK

BANGKOK BATAVIA BOMULL CALOUTTA CANTON

CAWNPORE

COLOMBO

DAIREN (Dany

South Mazedoška). DELHI

ПАТРИОНО

ПАНКОЯ

(N., Manchuria?

HAMBURG

HARBIN

HÙNG TRONG

Lone

КАШОВ

KLANO

ATALA KANGSMI

IPOU

ДОВА

VADAS

MANILA

MEDAN

NEW YORK

PERINO

PENANO

PESHAWAR RANOODN SAIGON

BEMARANO SEREMBAN RITANOLIAI

HIRGAPORE

SOURADAYA

TAIPINO

(.1.8.)

TAVOY TIENTHIR

TORYO

TONOKAH (Bhokaw,

TSINGTAO

YOKOHAMA

ZAKHOANDA

CHINA'S EXPORTS.

THE CHINA MAIL.

COMMERCE

A N-D

FINANCE

counteracted by the following ille-

gal taxes:-

Fengyangkuan likin

Hit by Legal and Illegal.P.R. likin

Taxation.

S.N.R. Hikin Shanghai likin

Total

THURSDAY, MAY 8, 1930.

HONG KONG MARKET PRODUCE.

APPROXIMATE RETAIL PRICES.

Butcher Meat.

Beat Sirloin ...

Roast

.$0.90.

Prime Cut

.18

JE

Corned

.36

07

•

.$1.51

Perecatag: Spring 7.6 per cent. Autumn 6.3 per cent.

are

There are many districts quoted in the report but the foregoing sufolent to show that taxation on exports varles all over China according to the parti claar wants of the administration' authorities in the various areas.

In a recent letter to the North China Daily News, à correspon- lent sets out the taxation which he had to pay both in Tientsin and Shanghai on a carpet manu- factured in Tientsin and sent to Shanghai. The value of the car-statistics pet was approximately $800 and This taxes amounted ti'kipples laudaj

to over $61. and General This tact helps to throw light on Foreign Exchange

the heavy liabilities from which Banking business transacted

Current Accounta"opened and Fix-|the export trade of Chiun suffers, ed Deposits received for 1 year or it is, of course, an axiom in all shorter periods at rates

which will countries that exports be quoted an application

A. H. FERGUSON,

Manager. Hong Kong, 8th January, 1029.

Pork (P.M.6.)

F

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

CAPITAL

Liabilities

Di

8,000,000 4,090,000

Authorised Issued Paid-up Reserve

Shareholders Surplus

HEAD OFFICES:—SINGAPORE.

must pay for imports. but the present sya tem so far from encouraging ex- Forts puts the most serious dim. culties in their way.

to

When the now Customs treaties between China and a number of the Pawors were signed at the end of 1928, Dr. C. T. Wang, the Chinese Foreign Minister, gave a written assurance to the British $20,000,000 Atin ister in China that the Chin-

сле Government intended alish kin, coast trade duties, 4,000,000 and similar internal taxation that 2,219,000 restrictail trade. Some likin stations

have bean abolished, but the main it is safe to say that no perious attempt has yet been made to fulfil this pledge which, (of course, by the "most favoured clause, applied to all nation" nationa that signed the

new treaties. How the taxation hurts Exports will partly be shown by Į this article.

Branche Agencies and Correspon denta in the principal cities of the world.

Every description of Banking and Exchange burlaeas transacted.

TAN ENG HOOI,

Manager. Hong Kong, 15th May, 1829.

4

THE BANK OF TAIWAN, LTD. (TAIWAN GINKO)

in

The Promised Abalition. Thus we have been able to see

*

Breast

Soup

Steak

Steak Sirlon Sausages

Bullock's Brains

W

Tongus, fresh .. Tongue, corned

Head

+

#

Heart

Hump, Balt

Fret

"

Kidneys

12

'Tall

Liver

" Tripa

May 2, June, June,

lb.

1930, 1918. 1914. Cta. Cts. Cts.

30

וני

30

30

27

*

24

ti 30

44

13

30

her set 15

each

Н

65

12

- $1,20

» $1.40

Ib.

24

31

30

each 12

16

H

26

H

ib.

21

"

10

sat $1.20 $1.00 $1.00

lb.

30

1)

Leg

F

30

#

Shoulder

It

30

学校肉

28

*

+

B0

Per not 8

15.

It is not possible to obtain the various taxes (illegal and, other wise) on the many other articles of export produce, for local for- eign merchants do not actually Calves' Head & Feet know but it is a fact that the taxes Mutton Chop are levied on about the same basla varying according to the district and the position obtaining at the various periods.

IJ

Tsingtao Position.

A recent arrival from Tsingtao told the writer that thousands of tons of export produce are lying, due to the complete inability of on the wharves and open spaces exporters to pay the illegal and unreasonable export taxes demand- ed. As much as eight per cent, is demanded in some cases which on the articles concerned puts busi- ness with foreign countries out of the question. other mushroom taxes.

There are many Boarding house owners were recently visit-

Saddis Pig's Chitlinga

Brains

Feet

*

H

Fry

Head

3)

P

Beart

H

Kidneys

Livor

Pork Chop

Leg

Loin

+

Fat or Lard

Sheep's Head & Foot

11

13

Heart Kidneys Liver

+

ed by Chinese officials and compell Sucking Pigs, to order ed to pay a tax of ten cents a meal

in respect of all boarders. Those not, Beer Learding house keepers, however, who are protected by extraterri.

HEAD OFFICE: Taipeh, Formosa.some statistics which were pre-toriality, so far have been able to

Incorporated by Special Imperial

Gbarter, 1889.

Couscal Deen in Formos ↑ Bruk Natya, izbež Average aujouəl ...Xml. 40,000,DUF BRANCHES AND AGEROINS: JAPAN:-Tokyo, Yokohama, Kobe, Cocka First, Earl Karinko

Alstong, Nauto, Bhinchiku, Taloku, Tama, „Takso," "Tumezi, Then, Erika, Tük.

Amer, Fochow,

CHINA-Bharghal, Hankow,

Caloitte

Below, Canon, OTHERS Hong Kong spore, Sutrabaya,

Emarang. FALMER, Bombay, London, New York, Dairan. LONDON BANKEES

Calcutis, Chribon, Dambee, Djez Jakarta') The Hague'), Jeddah, Robe. Kota-Hadju. Nakamai, Malan, Palang Palambot. Palaioupso, PRE Pontianak, Hangson, Berdam'). Hamstang Bangbal, Sibolga Numeral, Bugspan carabala, Berakarta (Bola), Tegat, Tiles The Imadas County, Weiminsiar and Fair's Bank. -The Hark bas Cortsspondacks in all ike pria.

Red Waliasretan."

3. Thoma offim kaya ada deporīt bezsa (to Isk, Landra Bankanımžalionai Provincial Byah Lai. -

Correspondants & all avut the world

Braking businae of 91677

Asseripilco transacted.

Hung-Hong. Ist #April,

A, STOKKINK,

Act, Mwinger.

BANQUE DE L'INDO « CHINE,

HEAD OFFICE:

96, Boulevard Haussman, Paris,

Subscribed Capital Frs. 72,000,000.00 Paid-Up Capital ... Fr. 08,400,000,00 Reserve Funds .....Fr.202,000,000.00

BRANCHES:

Bangkok Hong Kong Quinhon Battambang Hue

Saigon Mengtze Shanghai Nam Dinh Singapore

Cantho

Canton

Djibouti Neumes Thanhea

Fort-Bayard Papeete Tientsia Haiphong

Peking

Hankow From-Pub Vinh Harol Pondicherry Yunnanfu

BANKERS:

IN FRANCE: Comptoir National d'Escompte de Paris: Credit Lyonnais; Banque de Paris ot des Pays-Bas; Credit Industrial et Commercial; So ciete Generalo.

IN LONDON: The National Pro vincial & Union Bank of England, Ltd: Comptoir National d'Escompte

de Paris; Credit Lyonnais.

IN NEW YORK: J, P. Morgan &

sipal Commercial Centrom threnghout the world.

ENROUBA

DONG KONG BRANCH).

Masager.

Les Voeux Road Uratial, Hong Kong, 15 January, 1920.

pared for exporters of eggs a very extensive business at the present time--and the position thus expos- ed shows rather an alarming state of affairs, in so far as the taxes legal and otherwise-can be taken, in a. general sense as far as. percentages are concerned, to apply..to all export commoditios.

In going through this document we see that in addition to "legal taxes", there are numerous ob- structions to successful business. The word "obstructions" is used advisedly inasmuch as the export- er, or rather. the Chinese middle- man or dealer who supplies the exporter. never knows exactly what his laid down cost in Shang-

avoid these additional illegal taxes.

Veal

Mutton

Sausages

+

21

No. 1.

Fish.

The General Position, Referring to the' general export Barbel position; as exchange place itself

Bream in a favourable position for ex-

of course,

Catfish Codish Craba

Fish

port (as far as importation into Canton Fresh Water foreign countries is concerned) so,

Сатр Chinese holders raise their asking prices. There is, however, nothing remarkable about this for It has, always been the case, but it would seem that those Cuttle Fist authorities responsible for illegal Dab taxation keep as close an eye on the exchange position as the Chin-Dog Fish ese merchants and levy, according Eels, Conger to the probabilities of the profit Fresh-Water secured. The result is a natural Yellow

Daco

Chc. Reference to our weekly pro- Frogs,

THE BANK OF CANTON, LTD., or, in fact, in any other port duce reports for many months past Garoupa

و

Established 1912.

Head Office-Hong Konɛ.

100000

,

is going to be.

Going through the list at ran-will show that "nothing doing" has Gudgeon dom it is possible to pick out the been reported in various forms. Herringa following under the head of "With the increased taxation, high Hallbut Aussonsai Cepill (H.K. Curious)

legal Laxen": Kiangai Provincint cost of living for those in the pro-Labrus $11,063,000 Paid Up Capital muasaneron van 1,886,200 Government Auriax, charitable ducing and collecting centres, and Loach Best Fund TRAK YAN

surtax, revenue stamp, Shanghai the non-ending civil wars, Chinese Lobsters BRANDDES- Catonah, Bankow Avalor, likin, railway likin.

producers who were formerly pros-Mackeral Fongyang- Bangkok, New York and haradas cuan likin, T.P.R. likin, S.N.R. perous and in a comfortable posi- Monk Fish

likin. school tax, produce tax, ex- tion have gradually been squeezed Mullet port fee en route, police tax, Ku out of business.

Oysters tang kin, local produce tax and Toshinkuan likin.

LONDON BANKEBB) • The Lloyd's Back Lámited. CORRESPONDENTA

la sil pilnaipal cilin The Port

Foreign langa and banking business of * diption frsanotad.

Bale Deposit Boxen (various dang) në » marly mnant of from #4 30 340,

LOOK POONG SEAN,

Chief Manager.

Hong Kong, 9th April, 1930.

THE BANK OF CHINA.

行 OR . P

Reorganised October 20, 1923, under

It is also to be noted that these illegal taxes vary according to district and, what is more signi- ficant, vary according to the sea- son, le.. when produce is plenti- | ful or otherwise. In other words, provincial institutions levy Illegal taxes according to the need for money at a given period.

The following are actual figures

Co., French American Banking Cer- special charter of The National Gov-aupplied by a reliable source:

poration; Guaranty Trust Co. of New ornnent as nu York,

Interest allowed on Current Ac counts and Fixed Deposits according

to arrangementa,

Every description of Banking and Exchange Business transacted. Safe Deposit Boxes to-let.

A. LECOT,

BANK

Subscribed Capital

Eggs from Jaochow distributing INTERNATIONAL EXCHANGE

centre: Value of eggs: Spring $20 per 1,000. Autumn $25 per 1,000.

Legal Taxes per 1,000. $25,000,000.00 $24,710,200.00 Klukiang M. Customs

3,820,603.82 Kiuliang M. Customs Surtax

Kiuklang Wharfage Import duty

Paid-Up Capital Reserve Funds

HEAD OFFICE: SHANGHAL

.

Manager.

Hong Kong, at May, 1929,

· HONG KONG BRANCH:

4 Queen's Road Central.

THE YOKOHAMA SPECIE BANK, China and inrge connections

LIMITED.

Establlabed 1880,

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

Head Office: TOKOHAMA.

Brunches and Agencies at: Alesandria

Nagya Newchwanz New York

Batavi Botub 7

Buenos Ayres

(Temporarily ilcoed).

Calcutta

Cacton

Chargchan

Dairen (Dainy)

Osska

Peking

Rangoon "Elo de Janeiro:

Saigon Ban Francisco

Fangilen (Mukden) Seattle

Hamburg

Hankow

Harbin

Kong Kong

Karachi

“Kode

London

Los Angeles

Semarang

Shanghel

Shimononald

Sibgapore

Boerabaya

Tientsin

Tungtau

Vladivostock

Temporarily

Current A6-

ʼataratas to be obtained on application:

Hong Kong, 10th March, 1930. :

Surtax

Wharfage

Total

Owing to our numerous branches, la,

Illegal Taxes per 1,000. in tho important commercial centres of the Likin and Export fee world, we are able to extend to our Klangse Provincial Govern- allents special facilities for domestic

ment Surtax

and foreign banking, and exchange.

and other Public Fands of the Chin Revenue Stamp

We also handle the issue of Bonds Charitable Suitar

ese Government both at home and Shanghai Likin abroad.

SHOU J. CHEN,

Manager. Hong Kong, 5th March, 1930.

KASHMIR SILK STORE

EXCLUSIVE STOCKS

SILK and. SILK GOODS

Opposite teen Theatre

Parrot Fish

Perch Pike

PROSPEROUS YEAR. Plaice

Harland and Wolff Accounts.

Pomfret, White

Pomfret, Black

Rock Fish Roach

Prawns Ray

Harland and Wolf's report for 1929 is the best that has been issued almon for

Shark some years, even though it

Skate ... shows that once again no return can be made on £6,205,894 of preference Shrimps and ordinary capital.

Snapper When the

Sales interim report ivas published on,

Teach October 10 last, it was pointed out

Turbot

.80.44 that, in view of the large tondage Turtles, amall, fr. weter

22 launched-the total for nine months

.09 was equal to the total for the whole

22 of the year 1928-the profit for

U ZZERSBABEESOFRIYEHBCE+Z992+5OKSELEJBOBESAR.

成燒牛牛

$ # B

羊嫩

- 牛羊仔仔

羊羊牛乳雠牛牛

FF

##-##E

魚魚魚魚脚

尾肚· 水

## 痛 感謝赞 黄做好谈眞田石白路將請角龍莛许峰鄉頭花班自帶開石崇馬沙糖設立摊尤左 魚 沙儋葜斑魚白花魚蝦魚魚魚魚芒魚和幹蝦公魚魚 **# **

18

" 28

18

each 16

13

lb.

46

D

36

36

门

H

42

M

22

per set 80

cach 10

16

"

23

*40.

16. 25

1

80

15

28

30

28

32

1b.

11 the year, would probably be about the Company paid in wages over

02 one-third larger, bringing the total £3,750,000, in local rates £68,451,

.$1.10

.$1.44

.09

.0

.01

For the first time a profit and loss 07 account is included, and this stows that the directors received no feus,

$1.64

Total Percentage Levlod, (Legal)..

Spring 5.5 per cent.

Autumn 4 per cent.

Percentage Levied. (Illegal).

Spring 8.2 per cent. Autumn 8.6 per cent. Kuchen Centre

In this district no legal taxes are able to be assessed but this la

THE INDUSTRIAL & COMMERCIAL BÁNK, LIMITED.

HEAD OFFICE: IZ:14, Queen'a Road, Central,

lương font

BRANCHES

Hankow Caton, Kon moon.

PONDENTE

19

ERRKAS EA⠀⠀`ESA÷⠀SHO NAHB BERBEROSIS BI⠀⠀⠀**** RE.

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SHS - H**s||

“ខ្លះនដន ឱ ! |

16

24

20

IG

Poultry,

Chicken Capons, Small Capons, Large

Duck

povea

Eggs, Hea (cooking).. Egge, Hen (fresh). Fowls, Canton Fowls, Hainan

Goess

Pigeons,

Canton

Hothow

Turkeys, Cock Turkeys, Hen

Snipe

Pheasant Quall Partridgea

1

ib.

May 2, June, June,

1980. 1918. 1014

"Cła. Cta. Gta.

60 30 31

48 28": "30"

28 30

40. 22 19

雄 each

新鮮雞蛋

per doz, 40

56 **

18

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21

21

04

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20 24

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27

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24

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24

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38

16. 75

00. rr

30

H

pair 1,80

cach32

Fruits.

Almonds

* £ 1.

84

35

Apples (California)

金山粺熊

22

Bananas' (bride')),

燕山香蕉

*+

Carambola...

Coconuts

Beach 13

Lemons, Chira .. 16.

Lichees, Dried

Oranges (Canton) - 18 Oranges

Pears (Canton)

45

│ | 「 | ༄|g ༐

ཋ | སྐྲ།།ཋའ:|

428

11 12 * 11

h

-

12

10

25 30

Lemons (American),

**

金山拌線 cach 10 落枝干h, 40

25

30

++

#

25'

18 "

Peanuts

花

生

"

12

10

12

Persimmons, Larga

軏

12

Plantain

*

#

5

Pamelo, Stam

12

lb. 16

Walnuts

Grapes

Reach 18

*#*. »

Vegetables, &c.

Beane, Sprout

Artichokes

19

Long

W

each 10

Beet Rout Bitter Squash

Brinjals, Green

Rad.....

Cabbage, Chinese

(Shanghai)

Cane Shoots, bunch..

Cauliflower (Largo) .. ★BA ench

(Medium); †IE

13 16

10

P↑

70

12 9

16

17

23 26

16 27.

23

16

20

**

Carrots

10

16

10

8

Chillies, Dried

Red

26

30

H

32 26

Green

40 30

22 18

Celery, Chinese

#

A

G

5

(Small) #WACIE

F

6. 5

奧

10

##T

25

***

10

珩花椒

8

B

2

6

FEEEEEERSPELET BAZ150* *KSEN 56A49ER*

13 23

Curry Stuff, Eaglied.. #F

Cucumbers

Garlie

Glager, Young

Old

Horseradish, Shanghai

Indian Corn

Lettuce...

Water Cheatrints

Mandaria.

Mashrooms, Fresh Okroea

Onfona, Bombay

生

18 16

32

13

12

24

12 21

20 20

13

2

12 2

糕

14

9

20 16

我想

16

ទេ

Green

26 29

Shanghai

上海葱

36

30

Parsley

#

36

45

Potato, Sweet

10

14

Japanese

日本署行

10

14

13

18

Pumpkin

22

10

Radish

紅農夾

86

30

Rhubarb (Fresh)

tr

8 10

Shallots

20

10

10

Spinach

M

32

80

Tomatoes

28

28

Taroz

22

12

28

26

J

86

N

18

12

Н

1.10

40

American

Turnips, Punti (Long)

Vegetable MarTOW

Water Cress

Water Lily Boot

ALLEGED FRAUDS.

Nineteen Charges of Conspiracy.

干葱

MaBao Ngalardon5|| 5.8 55585..||co.l.5

+

10

#

45

I

60

G

6

5 15

| × | | | - | - - ¤ ¤ ¤ ¤ | Tali aliöönaoal |{}|ee|}{ar

the previous year, according to the annual report of the monopoly ad- ministration. The total salea of tobacco. Including cigars, cigar- attes and pipe tobacco, during the past year rose by 1.82 million kronor to 116.78 million kronor

up to £600,000 before allowing for and for health, unemployment In- depreciation. Actually the profit rurance, and workmen's compensa- was £674,874, against £454,356.tion £107,098. It is explained that The sum of £300,000, an increase of dividends were received from the £60,000, is written off for depre- company's steel and coal interests

Chan Kai-sang, charged in con- clation, leaving a net profit of in Scotland, but on balance the subnection with alleged long firm (6.40 millions).

874,874, against £204,355.

sidiary companies earned profits frauds, made another appear- after deducting losses.

ance before Mr. A. W. G. H. Balance Sheet Total Unchanged. Grantham yesterday afternoon, The total of the balance sheet is when no fewer than 19 counts of and that the directors fees paid by almost unchanged at £16,879,717 but alleged conspiracy to obtain goods subsidiary companies amount to only the fixed assets have fallen from by false pretences were preferred £1,850. The dividend on the x14,876,618 to £14448,881, the dif- against him. He was alleged to Fer cent. first cumulative preference ference being accounted for by the have obtained goods from nine shares absorbs $192,000, and depreciation, allowance plus new Chinese firms without any inten- £116,615 is written off Investments, expenditure. The floating assets tion of paying for them. leaving a balance of £132,807 have increased from £2,503,169 to After evidence was taken from (against $107,558) to be carried (22,780,886. The trade facilities Chan Man-cheuk, a partner in forward.

léans have been reduced from the Teing Yat Knitting Factory, Shipbuilding Output. £375,969 to £287,098.

which had supplied goods to the Excluding the output from the Sundry creditors, overdrafts, etc., value of $2.116; and from a sales- yards of associated companies, the have Increased from $2,231,055 to man of the Tung Tack Knitting | shipbuilding and engineering out- £2,860,153, This Increase, how Factory, from which 100 dozen put was 146.280 gross tonnage and ever, is fully accounted for by the singlets were obtained, the case 171,780 horse power, against 101,786 fact that the receipts on account of was again adjourned.

and 119,165 respectively in 1928. work in progress in excess of ex-

Yield at £4,000,000 of Revenue to the State.

Last year's output, was, in fact, the penditure have fallen from £782,295 TOBACCO MONOPOLY, largest for several years past. Al- to £371,901. On the other hand, ready, it is known that the output the expenditure on work in pro- for the current year will be larger gress in excess of receipts has rison than in any of the last six years from £684.861 to $1204,476. Thus, with the exception of 1929, every on account of receipts and expendi Felties of the Worldslip at Belfast being occupied, while ture on work in progress the com- The Swedish Tobacco, Monopoly flow of Banking and Govan is also well supplied with pany is having to finance £080,000 during the past year gave the

trañassted. A. WS

We work has more work that was the case a year State a total net revenue of 71,92 KALING The Importance of the concern ngo; hence Cash has been reduced million kronor ($4 millions), or General Manager, can be seen from the otstément that from $828,610 to $125,676.

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