1930-08-20 — Page 2

China Mail 德臣西報 中國郵報 All

Page

HONG KONG AND SHANGHAI BANKING CORPORATION.

Marklenessot Capital

$4,000,00

Essed out ulty Vishop $20,120,000 Reserva Futule

Sterling

Ailver

10,500,000 Bosne,nco

Reserve Llability el Propelsson, 120,000,000

HEAD OFFICE, HONG KONG,

BOARD OF DIRECTORS --

J. A, Plymmse. Exq

Chalem

Hod, Mr. C. 0, B."Machia,

Poputy Chairma

WL Bell, E

Hon, M., . Pateria

A. H. Compeni, Band T, P. Degree, Esq."

I. Landers Lesen, Rep. H. U/Shaw, Kan..

O.. Miskin Fay.

AM

BANGKOR

BATAVIA

JOUBAA

CALCUTTA

CANTON eiterya GOLOMBO

-DAIRES

FUOCHOW TEXAPTIONST

ELA MISTURA BANKOW

HADDIN

HONDREW

140114

32011

JORDRE

KODE

KOWLOON

J. P. Warren, E

Chiat Mr.

V. M. Graybarn, Eej.

BRANCHES :--

KUALA LUMINI

LONDON

LYONS

STATACA

MANILA

MUAR (Joboro)

MRKDEN

NAGASAKI

NEW YORK

PEPING.

PENANG HANDBON

SAIGON

SAX FRANCISCO

SHLANGIA

SINGAPORE

SORRABAYA

SINGEJ PATANI TIPSINES

THEY

TSINGTAD

SUKORRASTA

Parerat Aceomals opened in Local Currcury wad Pro Deposite meeled for one year cr arter and in ben) Cheesy and sterling on dems why will be quoted on application. Hong Kong April, 1900,

HONG KONG SAVINGS BANK.

The Bachures of the above (bul in conduct ed by the HONG KONG AND SHANGHAI BANKING CORPORATION., Robes may be obtained on application,

• FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION

V. M. SAYBURN,

Baur Kang, 16th July, 120,

Chief Musage",

NEDERLANDSCHE HANDEL MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

HAKKERS,

Established 1821

Efang Bang Offer:-1, Queen's Iload Central. Authorised pital tiuilders 150,000,000. (£12,200,000.] Paid Up Capital

Gissildren thee), UM

JE05,20,270Y

(31.03)

Hrade- AMSTERDAM • Easter Hend tutre ;--BATAVIA, BLANCHES--Bundjermasin, Bandorng“, Botalay,

'lekts, beritans, Pamiler, Djok janrla", The Unque, deddala, Kobe, Kain-indja, Makassar, Mediai, stoge Putenberg. Pekalongan, Penang, Protiúnak, flotterdam", Shaugh Kibolga Foural, Klagepor Seek (eini. Tegat, Tjilajep ned

Sig

(Sat),

Weltevreden,

The fire insre ente deposit boses to J Lepchen Bankers — Suțineral Provincial Bank Srl. Correspondeaty' ni over the world

Banking bedorsa Di

devription transacted.

A. STOCKINK,

Boug Hoog, th August, 1990.

Artog Manager.

BANQUE DE L'INDO-CHINE

HEAD OFFICE:

96, Boulevard Haussman, l'aris.

THE. CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.-

Incorporated by Royal Charter, 1853. HEAD OFFICE: LONDON.

Paid-up Capital

£3,000,000

Reserve Fund

£1,000,000

Reserve Liability of Pro-

prietors

£3,000,000

Agencies and Branches:

ALOR STAR

KUALA LUMPUR

Maty State)

KUCHING

AMBITSAR

NANOKOR BATAVIA

MADRAS

MANILA

BOMBAY

MEDAN

CALCUTTA

CANTON

CAWNTORE

CERC

COLOSTO

DAIRES (Delpy.

Routh March.tria)

DELHI

MAILING HAMBERO

. Manchuria

NEW YORK

PERING

PENANG PESHAWAD BANGODN BALODN REMARANG SENEST DAN

SHARONAL

SINGAPORE

FOURABAYA

FIESTAIS

HANKOW

EARDIN

TAIPING (M.5.)

1030 KONO

TAVOY

1LOBLA

TORTO

KARACHI

KIAND

THINGTAD

KODE

KUALA KASOSAR

TONGKAT (Buket)

YOKOHAMA

ZAMBOANGA

(k P.M.5.) (Pippine Islander Foreign

and General Exchange Banking business transmeted.

Current Accounts opened and Fix. ed Deposita received for 1 year or shorter periods at rates which will be quoted on application.

A. H. FERGUSON,

Manager, Hong Kong, 8th January, 1929,

THE

CHINA MAIL.

Commerce and Finance

OVER PRODUCTION OF RUBBER.

Clever Scheme of Two] Malayan Planters.

- LOWER WORLD OUTPUT.

London, Yesterday.

TRADE SITUATION. IN GERMANY.

Britain's Lead in:

Organisation.

COMPETITIVE EFFICIENCY.

WEDNESDAY, AUGUST 20, 1930.

HONG KONG MARKET PRODUCE.

APPROXIMATE RETAIL PRICES.

Butcher Meat,

Beef Sirloia

» Prime Cat

Corned

Roast.. » Breast

33

Boup

Steak

Steak Sirloin

Aug. 14, Juno, June,

Cts. Cts. Cts.

Aug. 14, June, June,

́1930, 1918, 1914.

Ota. Ct. Cts

30

28

28

涂料

ib.

** 25, 22

At each 90 22

por doz. 32 18

8a86 ⠀ ⠀ ⠀ ⠀ ⠀ ⠀ ⠀ 28

1950. 1818. 1914.

Poultry.

30

24 12

Uhicken

19

30 29 11

Capone, Small

28 12

Capons; Large

20

22

Duck

28 · 20

18

Dorse

*25 20 18

Egys, Hen (cooking)..

90 24 24

Eggs, Hen (fresh)

新鮮雞蛋

ከ.

26

44.

30 55

Fowls, Canton ...

jb,

36

Sausages

12

36

28 20

85

"

per set 15

10

12

Geese

300

"

24,

19

J

Tongue, fresh .. Tongue,

each 65

50 60

each 40 80

corned

Holbow

IT

28

Hond *

$1.00

~~$1.20

lb.

Heart

Hump, Balt

H

Foot

Kidneys

#

Tal

Liver

12

*

Bollock's Brains .....

Tripa Calves' Hand & Feet Mutton Chop

The exchanges of Information and A few scheme to combat over experience which took place at Ber- production of rubber is given pro-lin in connection with the second minenco-in-the-Financial Times. World Power Conference, subse- The scheme was devised by Messrs. quent interviews with leading ex- V. N. Were, and W. A. Stanton. perts and direct investigation of the Managers respectively of Kampong | actual industrial position were valu Kuantan and Brooklands (Selangor) able above all to those who desired Rubber Companies. They pro- to obtain some iden of Anglo- pose the temporary shutting down German competitive relations, says of sufficient estates to reduce the Mr. Hugh Quigley, in a special world yearly output by 200,000 tons. article in the Financial Times on Estates electing to suspend opera- July 2. The main points which THE HO HONG BANK. LTD.tions would receive a maintenance emerged from discussion and exam-

grant from a Government-levied ination of German trade conditions Pig's Chitlings cess on the production of other com may be summarised as follows :--

Braits panies.-Reuter.

I-The work of rationalisation is virtually complete, above all in the 8,000,000 SPAIN'S CURRENCY.iron and steel and chemical indus-

Authorised Issued

Paid-up

Reserve

(Established 1917.)

CAPITAL:"

Straits $20,000,000

Liabilities

of Shareholders Surplus

4,000,000

4,000,000. -2,520,000

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

Every description of Banking and Exchange business transacted.

TAN ENG HOOI,

THE

INC.

Manager.

Head Office: 65, Broadway, New York.

DRAMATIC DEVELOPMENTS

REPORTED.

17

*

Leg Shoulder

"

Saddle

1

Feet M

H

Fry

Head

#

tries, and the cessation of orders för cquipment has intensifled the un- employment crlals in the engineer- ing and electrical manufacturing Pork Chop Industries, while it has reacted ab- Log versely on the industries which have carried out rationalisation. It was

14

Heart

P

Kidneys

Liver

Н

Lola

"Fat or Lard ...

Heart

difficult to find a single authority sheep's Head & Feet who was really optimistic regarding the future prospects of the German metal trades. { In-

Kidneys Liver

Santiages

No. 1.

Fish.

Madrid, Yesterday. The steady decline of the peseta from 43.80 a fortnight ago to 4614 yesterday morning, ascribed to speculators exploiting the

II. The unemployment crisis in Sucking Pigs, to order stability of the political situation and the difficulties connected with Germany bears some resemblance to guet, Beef AMERICAN EXPRESS COMPANY, the return of a constitutional gov- the British inasmuch as the curve } Mutton

industry has Vea! ernment has produced dramatic of employment in developments, the Premier, Senor shown a marked tendency to decline Madrid ever since the beginning of 1928, Berenguer, dashing to from a holiday at Suntander, after and through rationalisation it will which a decree appeared estab-probably continue to show such a lishing "Regulating Centre," falling movement. The decline has armed with wide powers, to pre- the effect of reparations

been intensified this year through and the vent speculation in currency.

There was further sensation to-day, in the official announce

Carp... other countries. ment of the resignation of the Finance

German employment has not been Catfish Minister, Senor Arguelles, as the outcome of a affected so adversely by world cons Cabinet meeting last night.

ditions as British employment, Crabs Senor Berenguer is again de- owing to the fact that the home Cuttle Fist parting for Santander, to inter-market in that country is respon- view the King--Reuter,

.U.S.$6,000,000 U.S.$1,572,464 U.S.$1,909,209

Capital Surplus Reserves

BRANCHES

Amsterdam Antwerp Anus Barla Berlin

92104 CROW

Δίκη

Naples

Ilyuns

Ticaoue

Mombarg

Herrita

Mombay

Benisti

Brussels

Havre Interlaken Jeralem Lo Loudon

l'avang

Stumon Aires

Liverpool

Cairo

Lucerne

INTRO

Lesor

Maratea

afonte Carlo

Mania

Munleb

Caku:

Candies Colon;bo

Cuttingle

Capentinten Edinburgh

Firence

GENOVA

Stortreux

Leking Pelaria Fotlarda Home Brimbaul

Shanghai Scuthampton Sangapore "Nt. lov

Trentain

Vanns

Vruct

Yohrma Xudeb

Branches of American Express

Barbel Bream

*ENT KEBETECKECENTROISSA*Ba

#

E . $

牛羊仔仔

contraction of loans obtained in the Canton Fresh Water R United States, Great

Britain and

Codfish

Dab

sible for a very much higher per- Dace

Fish

塘您

Į

centage of the total, demand. Ger-Dog Fish“. many is suffering, not from a con- Eels, Conger traction of export orders, but from

Fresh Water

Fir

Yellow

KAILAN MINES.

The total output of the Kailan Company in Principal cities of Unit- Mining Administration's mines for the week ended August 2, amounted to 113,330 tons, and the sales dur-

ed States of America and Canada.

All classes of Commercial Banking ing the period to 78,764 tons, Transactions undertaken.

Personal

Subscribed Capital Frs. 72,000,000,00 Frs. G8,400,000,00 Paid-Up Capital Reserve Funds ....Frs,102,000,000.00 handled.

Bangkok Battambang Hue

Cantho

Canton Djibouti

AM

BRANCHES Hong Kong Quinhon

Saigon Mengtze Shanghat Nam-Dini Singapore

Thanhea Neumea

Tientsin Peking Tourane Pnon-Penh Vinh Pondicherry Yunnantu BANKERS:

Port-Bayard Papeete

Haiphong

Ilankow

Hanoi

IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas Credit Industriel et Commercial; So- elete Generale.

IN LONDON: The National Pro- vincial & Unior Bank of England,

investment

accounts

The Company offers to intending Travellers the use of,, its "Travelers Cheques and Letters of Credit and, In addition, the world-wide services of its thoroughly equipped, Travel De- partment.

Affiliated with

THE CHASE NATIONAL BANK Resources ..Over $2,500,000,000

E, W. DUGGAN,

Manager.

Ltd.: Comptoir National d'Escompte THE BANK OF TAIWAN, LTD.

c. Paris: Credit Lyonnais.

IN NEW YORK: J. F. Morgan & Co.; French American Banking Cor- paration; Guaranty Trust Co. of New

York.

Interest allowed on Current Ae- counts and Fixed Deposits according to arrangements."=

Every description of Banking and Exchange Business transacted.

Safe Deposit Boxes to let.

A. LECOT,

Manager,

Hong Kong, 1st May, 1929.

THE YOKOHAMA SPECIE BANK, LIMITED,

Established 1880.

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

Head OfficeYOKOHAMA,” Branches and Agencies úti Alexandria

Nagoya Nowchwang New York Osaka. Peking

Batavia Bombay

Buenos Aires

(Temporarily closed)

Calcutta

Canton

Changchun

Rangoon Rio de Janeiro Baigón t

Dairen (Dalny) San Francisco

Fengtien (Mukden) Beattle

Hamburg

Hankow Shanchal

Semarang

Harbin D

Shimonosek

Hong Kong

Singapora m

Soerabaya

entsin

Honolulu

Kai Yuen

Karachi

Kabo

London Los Angeles Lyons Sihatla

Nogaráki

(Temporarily elated Interest: allowed or rrent Ad countached

Deposits, received: fər fizod int rates "to be obtained on..

(TAIWAN GINKO.)

HEAD OFFICE: Taipeh, Formosd, Incorporated by Special Imperial

Charter, 1899,**

FOB TOTO Katha Karunko,

London, New York Delray

THE BANK OF CANTON, LTD.

Established 1912, Head Offect-Hong Kong.

Aullingined Capital Pall-Cp Fun Tomato an 3,645,000

servi Fuad

1,000,000

BRANCHES

Canton, Sangini.innow. Swnlow, Bangkok, New York and San Francisco

LONDON BANKERS:—

The Lloyd's Think, Limited. CORRESPONDENTS

In all principal cities of the World.

Foreign exchange and banking,buvinces of every durenption frameved.

Safe Depnalt Barre fvarious sizes) at a yearly rusal of tron 35 to $10.

LOOK POONG SHAN,

Chief Manager. Hong Kong, 14th May. 1030.

a very serious decline in the con sumption within the frontiers them- Frogs selves.

Unexpected Results.

Garoupa Gudgeon II. Rationalisation, as conceived Herringa and -executed-in industry,-has--not Halibut

the results produced

expected, Labrus largely owing to the fact that the Loach policy governing re-equipment and Lobsters reorganisation has been such as to Mackerel provide for the elaboration of very Monk Fish large units, but not for the co-opera- Mullet tion of such units among themselves Oysters in accordance with the requirements Perrot Fish of one industry or the country as 3 Perch whole.

Pike S

Rationaliantion has been achieved Plaice without real co-operation. The re- Pomfret, White ault has-been an intensification of Pomfret, Black competition betweep producers with- Prawns

In Germany itself. This applies, Ray above. all to electrical manufactüre | Rock Fish and, to some extent, to all the metal | Roach. tradea. Again, costs of production | Salmon

THE BANK OF EAST ASIA, LTD. have remained excessively high, Shark

HEAD OFFICE; HONG KONG. 10, Dea Voeux Road Central, Hong Kong-

Authorised Capital Paid-Up Capital Noservo

LONDON BANKERS 1 - The London County Wasialaster and Par's Bank. Kobe

The Bank by Correspundetis, in all the pela dipal Commarnia) Canteen, throughout the teachd.

1. NAGURA, İKONG KONG BRANCH,

even in the most modern installa‹ Skata tions, simply because demand has | Skrimps not been sufficient to maintain them (Suapper In operation at an economic level. Soles and their efficiency has declined Tench .$10,000,000

from the purely Turbot 8,000,000 considerably

A

##

$$~6¶¶ @ NAMERAHEDENARDGAYAUSGEWMGENE RZBRE-MER HEESHEQEEKQZDUSEREVATNSRTITAERHERN

* #

93

00

Fowls, Hainan

Pigeons, Canton

}

lb. 24 18 14

rach 10 10

Turkeys, Cock

Turkeys, Hon

Snipe Pheasant

Quail ... Partridges

#4

20 -18

.

15 10

12

та

25 20

1b. 24 13

ro

10 0

set $1.20 $1.00 $1.00

1b. 26 26

*******8 R2" ale terasal

Lemona, China

Lemons (American)

LE¤RKKRAJA

火雞

* SKER #EKESBER

each

pair

each

*** | A

81

ឥនន៩គ | ដំ៩៩ | | | |}}

Fruits.

M

38 25

Almonds

姿

b.

50

35

H

34 24

32

Apples (California)

金山障業

**

35

24

-80

"

27

Bananas (bride's)

高山香蕉

B ¿

Per net 1

lb. 17

15

Carambola ****** Coconate

*

18

"

28 15

椰子 each –

10

10

N

18

·20

#lb. M

25

30

euch 18 10

each 12 8

18

10

Lichees, Dried .....

lb. 46

荔枝¥ 16.

50

26

30

1

35

26

新會醋楼

35

#

20

40

GO

**

24

21

P

Peanuts

per set 85

# 生

sk

13 10

D

oach

12

16

12

16 12 10

70

Plastain

大辉

5

8

15

45 26 25

D. *25 25

22

Pumelo, Siam

Walnuts Grapes ...

12

18

Ib.

80 20

36 28

22. 20

"

28

22

16

24

20 16

Oranges (Canton)

Oranges ....

Fears (Canton) .....

Persimmons, Large

Hi H cách 15

## lb.

***

Vegetables, &c.

Artichoke Beana, Sprout

Longe

Beet Root

Bitter Squash

10

18

Brinjala, Green

Red

27

-9

Cabbage, Chinese ...

17

15

(Shanghai)

Cans Shoots, bunch..

26

27

L

"

18

"

Carrots

H

12

D

93 82828*87**888@*******⠀⠀⠀ -⠀ ***********

1929RRRA=***9*?********AAR88RAAN BANANAS

*

Cabildower (Large) .. ★H

(Medium)

(Small) .. TAZE

Celery, Chinesa ... BAK

Chillies, Dried

Curry Stuff, English.. NEH

Cacambers

Garlic

Ginger, Young

Old

Red

Green

Н

each 12

lb.

ཡུ ཐ སྱཱ གྷ ཆ ཋ ཋ ༷

12

8

16

8

6

10

10

each

[ | | | ê 8༐ ཋ | ཋ | ། ।༄༅། .

12

lb. 20 Б 6

10

10

辣椒干

28

25

B

黻辣椒

25 10 10

籽花纸

16 8 12

10 8

2

6

14.

17

10

32.

花花花笋菜干椒椒料瓜斯宾塞米染豬蹄泰 阿菜仔仔瓜仔菜頭菜蔬

50

25

30

22 18

32

28

32.

16

18

Horseradish, Shanghai

24

Indian Corn

11

21

Lettuce

20

Water Chestunts ....

10

#

2

Mandarin.桂林馬蹄

12

2

D

Mushrooms. Fresh Okrees

40

"

12 1

17

15

Onions, Bombay

洋蔻頭

8

34

£

Green

29

Shanghai

2

38

30

Parsley

45

Potato, Sweet

14

Japanese

日本興

14

金山新

18

Pumpkin

22

10

Kodista

JI

56

88

30

Rhubarb (Fresh)

10

Shallots

21

tr

-10

"1

48

80

34

"

-28

28

+

35 22 '28

19

84

26.85

88

24

18. 12

,, 31.00

40

་་

"

17

American

Spinach Tomatoes.. Taros ....

Turnips, Punti (Long)

Vegetable Marrow

Water. Cres

Water Lily Root

Central Bars in Furmont, Dual-20ɔwe lested Azurage amount Yes 43,000,DOR BRANCHES AND AGENCIES:

1,750,000 theoretical efficiency established Turtles, small, fr, water JAPAN

Yokohama, Tobe, Genka.

BRANCHES AND AGENCIES:- when such plants were designed. Testing. ng, Mato, Binckling Taleba, Tubes, Batavia Melbourne San Francisco One can find Illustrations of this

Tamsul, Tors: Bak, Tako, CHINA :--Shanghel Hankow,

Bombay Nagasaki Seattle.

· Amay, ↑ Funchow, Calcutta New York Semarang

tendency not merely in electricity take yeara to prepare.

applies to iron and steel, chemicala Hwalow, Casi OTHER Eng Kong Hageporn, Canton Osaka Singapore

supply, but also in iron and steel and V Prices, particularly of pre- and textiles. The source of weak- Bemarang,

Celeste, Haiphong Parla

Sourabaya

chemicals.. HOW

ducts In general consumption, ness in Great Britain lay in lack Honolulu Peiping Sydney

IV-The question of the relation transport and almilar services, of co-ordination between producers, Penang

Taipeh

ship between the State and industry finance and credit are decidedly but this deficiency is now being Kowloon Rangoon Tientsin Lordon. Saigon

Tokyo,

has become exceedingly acute. If more expensive in Germany than in made good, and it may easily be Manila Shanghai.

one takes electricity supply alone, Great Britain. There are a few found that, as in electricity supply, principal one, finds the position decidedly exceptions, notably in foodstuff, but the British solution of the problem complicated. Thus the German they are not sufficient to qualify is better than the German. States owns or controls under this statement. takings generating about 8,600,000,- reduce wages in Germany with a number of engineering and metal Any attempt to It is true, of course, that in a

000 units, which are now in process view to reducing costs must lear products German export prices are of co-ordination under one company.to a fairly rapid Impoverishment of lower than British, but German A semi-private semi-public company the whole country,

Industralists admit themselves that the Rhenish Westphalian Electricity Great Britain's Position. - these prices are not real and re-. Supply Company, which" controls It is possible to mention other presents a loss on manufacturing subsidiaries operating in a number points, but the preliminary aurvey costs. The high prices ruling in of the States from Holland in tho has been such as to induce a feeling side Germany, undoubtedly confirm north to Switzerland in the south of optimism as far as the future of this view,

•A, Ewe Tom Road Contra Hong Kong. Ith January, 1989.

THE BANK OF CHINA.

行銀:國中

Baorganised October 28, 1928, under

special charter of The National Gov- ernment as AÐ

INTERNATIONAL EXCHANGE

MARIA BANK; AS

Subscribed Capital.

Pald-Up Capital

Reserve Fund

5,000,000.00

200.00

HEAD OFFICE: SHANGHAI.

HONG KONG BRANCH:

4 Queen's Road Centrali

Correspondents In cities of the world.

Every description of Banking and Exchange business transacted. Loan granted on approved securities.

SAFE DEPOSIT BOXES to let..

KANTONG PO,

Chief Manager.

· THE MERCANTILE BANK OF

INDIA, LTD.

HEAD OFFICE:

15, Grzechiavh Nirost, London; · 5.0.1, Authorised. Capital....£3,000,000, Subscribed Capital... 1,800,000, Paid-up Capital 1,050,000 Roserve Fund and. Rest 1,048,500 BANKERS:

紅葡仔

8

10

#

G

6

B

15

B 15

تجد

UNCLAIMED TELEGRAMS.

THE EASTERN EXTENSION AUSTRALASIA & CHINA TELEGRAPH CO., LTD.

The following unclaimed tele- grams are lying at the E.E., Tele- graph Co. Office, Hong Kong- da, from Manila.

Miss Pachal, Empress of Cana-

Oyama, caro of Canton Mart, from. Shanghai,

S. LACK,

Superintendent. Hong Kong, August 14, 1930.

THE GREAT NORTHERN TELEGRAPH CO. LTD. OF DENMARK,

and Hanover in the east, is re- British Industry is concerned, .. There is no Index: in existence of sponsible for much the same output. Both in electrical manufacture and home and export prices" quoted in

The following unclaimed tele In addition to these under-electricity supply, Great Britain is Germany, but, there is no doubt that grams are lying at the office of takings, the indlydial States, such definitely ahead of Germany. Its the difference between these two the Great Northern Telegraph 11:51 Thor Bank or 2a Jans-Midan book, toda Bavaria, Saxonte Yurtemberg best manufacturing plants are sets of prices is very much greater Company (Limited)

Den-

AWUBLEBRANCHEA”.

Bangkok TS

Bombay Karood Pork Lela Galoutta Kot there

autics)

Colombos ad Im Ke Hangers

* Owing to our numerous branches Holdencias. (Paladj) Bakapoch

in China and Yergo connections in the Important commercial centres of the world, we are able to extend to our clients special facilities for domestic

Superintendent

Hong Kong, August 19, 1980.

and Baden; have co-ordinating com superior, its best generating than that ruling in Great Britain.mark paules also control supply, and, stations are more efficient and it Even at the present time British Unimant, from New York. in a fourth category come indepen-has solved the problem of national Industrial plant may be smiler and Lyman, Dairy Farm, from dant power companies feeding, as co-operation.")

less spectacular, but they are de Shanghai. those other undertakings into a In this respect aloné it has obcidedly more elastic in operation

E. V. JESSEN; whole series of distributing under-tained na advantage of years over and can conform easily to fuctus. takings. In Germany it has bean Garmiany. The average price rul tion in the market without serious

most impossible to co-ordinata ing in electricity in Great Britain loss of efficiency. Wi rich diversified systems Into à now la less than that ruling in The German machine is now be genuinely national system, and so the Germany, and the gap is almost ing tested by a period of severe de is not coincided with an improve ships under fullest advantage is not being taken certain to widen as the Central pression, the first that has really ment in officiency la distribution and the Chin-INTEREST allows on Current Accounts of the important inter-connect Electricity Board becories more set in since 1926, and by all so in national services or utilities,

Tixed, Depquila Bates, think; mag; be, ameriálund fand

Great counts. It is not standing up with with the result that the economie cturing complete success to the test. The organisation of Germany-is-pro- the conclusion of the rationalisation bably more out of balance than the stion process on the manufacturing aidé Britio.

and foreign banking and exchanges.

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