1930-10-09 — Page 2

Page

HONG KONG AND SHANGHAI BANKING CORPORATION.

450,000,000

Authorised Capital Issued and Fully Paid-up'$20,000,000 Beserve Funda :→→

Barling Bilver

£6,500,000 2,500,000

Liability of Propristors $20,000,000 HEAD OFFICE: HONG KONO

BOARD OF DIBROTONS,

J. A. Plummer, Esq. Chairman.

11. Mr. 0.0, 6," Muckle...

Deputy Chinna

W. II. Bell, Esq.

ton. Mr. J. J. Petar

A. H. Compton, Eng., T. Pearse, Esq.

B Lauder laule, Yaq. T. 11. R. Show, Esq.`

sto. Mukio, Esq.

AMOT

LANO ROK

BATAVIA

BOMBAY

CALCUTTA

CANTON

CHEFOO

C01.MO

DAIREN POCHOW

HARUOSO

LI & ENTHO

HANKOW

BARON

BOSOKEW

ILOILO

1P011

JOHORE

KoDE

KOWLOON

J. P. Warton, Eiq..

Chief Manager.

V. M. Grayban, Eng.

· DRANCHES :-

KUALA LUMPUR

-LONDON

LYONS

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA....... Incorporated by Royal Charter, 1863. HEAD OFFICE: LONDON.

Paid-up Capital

...£3,000,000 £4,000,000

Reserve Liability of Pro-

Reserve Fund ...

prietors

.£3,000,000

Agencies and Branches:

KUALA LUMPUR KUCHING..

ALUR STAR

(Malay Natos)

AURITSAX

BANGKOK HATAVIA BOMBAY CALAUTTA CANTON

CAWNPORE

+ CERU

COLOMBO

DAIREN Dalog

South Manchuria)

DELHI

HAIPHONG

HAMBURA

HANKOW

HARDIN

MALACCA

(N. Hanchuria) -

MANILA

HONG KONG

ILOILO

UAB (Johor)

SPOI

MUKDEN

RABACI

KLANG

KOLE.

-HAGASAKI

NEW YORK -

PEIPING

PRNANA

LANGOON

KAIDON

SAN FRANCISCO

SHANOSTAL

SINGAPORE

~BURABAYA

HUNDE PATANI

TIENTSIN

10KYO

TSINGTAO YOKOHAMA

-Com Accounts opened in Local Cureezey and Pized Deposit received for one year o ekorier periode in Local Cartones and Sterling on terms which will be quoted en application. Bong Kong, la April, 1900.

HONG KONG SAVINGS BANK.

The Dustcome of the abors Teak in conduct. and by the 11NG KONG AND SHANGHAI Bules they be BANKING CORPORATION.

abteised on applicatio

FOR THE HONOKUNG AND KILANOMAT BANKING CORPORATION.

T. M. GRAYBURN,

Cile! Manager.

Hong Kong. 6th July, 1030.

NEDERLANDSCHE HANDEL-

MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING KOCEŁTY?

BANKERS.

Eladiebed $824

Long Raza U-11, Quesn't load Central.

Authorised Capital

Paid-Up Capital

Reserve Fund

Guilders 150,000,000

(£19,600.000.)

Cylders 80,000,000

(£5,000,170)

Guilders 40,018,000 (28,34,580)

Head Office 2AMSTERZAM" Eastern Head BATAVIA.

BRANCHEN-Bandjermanin, Bandeng, Dombay,

Calcutta, Cborib,

iskarla, Ibn Hage Robe,

MADIAS

MEDAN NEW YOR PERINO PENANG PESHAWAR BANDOON SAIGON KEMARANG BEREMBAN

VHAND TAI

BING TONE

HOUBARAYA

TAIPINO (F.M,8.) TAVOY

TIENTBIR

TOKY

THE CHINA MAIL.

Commerce and Finance

TIGHT MONEY IN

AMERICA.

Surety Outlook Not · Reassuring.

AFFECTING INSURANCE.

menal for twenty years, has slowed down, and at. the same time many new companies have entered the field, increasing the competition. Within a few weeks two of the most prominent fire insurance companies have launched heavily financed casualty-surety running mates.

The prestige and popularity of the parent companies w result in their securing favoured places in many agencies at once and securing considerable amount of business previously written by other com panies.

One of the causes of the con- tinued drop in premium income which the fire Insurance companies

Certain of the old and Are experiencing is the fact that many policies which have been firmly established companies will written for three or five years in hold their own and grow, and the the past are being renewed for running mates of the great fire in

the Ameri-

have such surance companies only one year, says can Insurance Correspondent of strong support that no doubt can

be entertained about them. the Financial News...

Under the rules of the chief companies not yet well established and without the support of other strong pany organisations, policies on many classes of risks may be writ-institutions, however, face a hard ten for three years at two and a fight, which will probably result in half times the annual rate and for a number of mergers and reinsur five years at four times the annual THE HO HONG BANK, LTD. rate. The fact that many insured

TONAKAI (huksi) THING1AD YOKOHAMA KUALA KANGSAR ZAMBOANGA

Philippine Islande). (Perak F...)

General Foreign

Exchange and Banking business transacted.

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

A. H. FERGUSON, Hong Kong, 8th January, 1920.

Authorised

Issued

(Established 1917.)

CAPITAL:

Paid-up

"

Reserva Liabilities

of Shareholders Surplus ..:

Manager.

ances.

Com-

The National Underwriter, a will forego the benefit of these dis leading insurance pablication, has counts in order to avoid paying issued the special edition in which more than one annual rate at this it presents annually the distribu- tion of life insurance payments .Straits $20,000,000 time shows how short of money

8,000,000 they are,

during the previous calendar year. 4,000,000

The low premium income and shows that 304 life insurance. 4,000,000 consequent increased loss and ex- companies in the United States 2,626,000 pense ratios is causing fire insurand Canada. together with the ance company executives to raise United States Veterans' Bureau HEAD OFFICE-SINGAPORE. Brunches, Agencies and Correspon-questions about organisation dents in the principal cities of the penses which under more favour conditions they would pay world.

Every description of Banking and

without comment. The companies Exchange business transacted.

are maintaining many organisa TAN ENG HOOL,

Manager. tions, and their expenses amount to It is the opinion of a heavy tax. some officers that certain of them are engaged in more activities AMERICAN EXPRESS COMPANY, than is really necessary.

THE

INC.

Head Office: 65. Broadway, New York.

Capital

Surplus Reserves

#jok-

Amsterdam

Acce

Berlin Biarritz

Tambay

Brad

Brussels Buonos Alr

Calro Calcutta Canna

Kota-ads, Anime, Medan, Padang Palombang, Pulstongs, Penang. Pontianak, tango01, Rotterdam", Abolks Shanghai, Samarong". (Sumatra). Singapore, Sourabel", Soerakarta (Bo), Tegal, Tillajep and Wollovredan".

• Thore officer hure wafe deposit bazen to let Sandon Regkere i--Halioanl Povincial Bank Lid.

Carrispondouts all over the world

thanking huxiness Of 8**73 description 1.

A. STOKKINK,

Acting Manage.

Tiong Kong. 8th Aug, 100,

BANQUE DE LINDO-CHINE

HEAD OFFICE:

96, Boulevard Haussmann, Paris.

Colombo

Constantinople

Edinburgh

Copmalaga

Florence

COATS

U.S.$6,000,000 U.S.$1,572,454 U.S.$1,908,209

BRANCHES--

Dance Glasgow

Hatena. Hamburg Harre Interiakon Jaruestor

Lido London ILiverpool Lucorne Lupo

Luror

Harseilles Monte Carlo

Vanill

liuplel

Sontreux Millan

Nie Naples Virtaus Parlo

Тек

Licking Palerme Rotterdam Huma Bimboul Shanghai Southampton

Singapcen

St. Morita

Tientsia

Vlouna

200 Yokohama Zurich

ed States of America and Canada,

All classes of Commercial Banking Transactions undertaken.

"investment Personal

able

ex"

For example, the present low rates, which, become lower every year, are largely due to reduced fire losses, brought about largely by the educational work done by the.com- The question pany organisations. has been raised to what extent the companies owe it to the public to work for the reduction of their own A certain amount of fire Income. prevention work is necessary, but there is some doubt as to whether the limit has not been passed.

Mutuals in Trouble.

and the Returned Soldiers Insur-

ance of Canada, paid, during 1929, death claims, matured endowments,, annuities, disability claims and`ad- ditional accidental death benefita amounting to $1,261,102,169, and bonutes to policy-holders and cash values amounting to $936,380,405 a total of $2,197,482,574. This ex- ceeds the payments of 1928, by over $140,000,000.

In each of 124 cities over $1,000,000 was paid, New York city leading with $159,400,000, Payments of $100,000 or more were made because of the death of each In three of these of.,150 persons. eases the payment exceeded $1,000,- 000.

While labour organisations have continued to demand that States take over a monopoly of workmen's compensation insurance, they have not made much headway in recent years. Recently they have secured A reciprocal concern located in enough signatures to pétitions in entitle the State of Texas, which has been the State of Missouri to

the question have writing workmen's compensation them insurance in a number of. States.submitted to, the voters at has been temporarily stopped from November election. The fact that transacting further business until State is in a controversy with stock it is determined whether it can be fire insurance companies over a

to

the

com-

Branches of American Exprosa Company in Principal cities of Unit-restored to solvency or a receiver rate increase has created consider-

Is appointed. An affiliated stockable hostility to insurance company under the same manage panies among the people and made ment is also in financial trouble, it less certain that the proposal and has reinsured nearly all it will be defeated.

Labour has not been badly treat- business. These events are not of great moment except as they directed by the companies writing work- attention to the possibility of simi- lar troubles in numerous small re- ciprocals and mutral companies.

Subscribed Capital Frs. 72,000,000.00 Paid-up Capita!...Fra. 68,400,000.00 handled. Reserve Funds ..Frs.102,000,000.00

Bangkok

BRANCHES:

Hong Kong Quinhon

Salgun Mengtze Shanghai Canton NamDinh Singapore

Battambang Hue

Canthe

Djibouti

Neumea

Fort-Bayard Papeete

Haiphong

Hankow

Hanoi

*Thanhea Tientsin

Peking Tourane Pnom Penh Vinh Pondicherry Yunnaafu BANKERS:

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

IN LONDON: The National Pro- vincial & Union Bank of England.

accounts

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

Afiliated with THE CHASE NATIONAL

Resources

There are a number of strong mutuals and reciprocals which en- joy public confidence, but the num- ber of little concerns, many of which write automobila liability insur- BANKance, is legion. Many of these

.Over 'G$2,500,000,000,

E. W. DUGGAN,

Manager.

write below the standard rates in order, to attract business. The re- serves for losses are based on pre- miums, and if the premiums are low the adequacy of the reserves is open to question. It will occasion

Ltd.; Comptoir National d'Escompte THE BANK OF TAIWAN, LTD.no surprise if quite a number of

da Paris; Credit Lyonnais.

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

Interest allowed on Current Ac- counts and Fixed Deperits according to arrangements.

;

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

A. LECOT

Manager,

Hon Kong, 1st May. 1929.

(TAIWAN GINKO.}

HEAD OFFICE:-Taipeh, 'Formosa. Incorporated by Special Imperial Charter, 1899,

Central Dank is Pormona. Bank-Notes lesued Average amount Ten. 45,000,000 BRANCHES AND AGENCIES: JATAN-Tokyo, Yokohama, Lobo, Osaka, FORMOSA:an, Kagle Harenko,

Makos. Nente, Bhinchiku, Taich, Tainan, Takeo. Tamel, Teen, Sigils, Talto, CHINA-Shanghai, Union Amoy, Poochow

Bwalow, Canton,

orus-ang Roux, Mingapore, Bouzabeya.

Batavia, Bombay, London, New York, Dalen.

Semeran

LONDON BANKERS:

Calcula

The London County Wastinlaster and Part's Blank.

THE YOKOHAMA SPECIE BANK; The Bank her Correspondente in all the puncipal

LIMITED.

Established 1880.

Capital (fully paid-up) Yen 100,000,000 Yen 118,500,000 Reserve Fund

Head Offco:YOKOHAMA. Bragcies and Agencies at: Alexandria.

Nagoys Newchwang Now York Osaka

Batavia Bombay Buenos Aires

Temporarily

Calcutta

Canton

Changchun

Dairen (Dalnyj

Poking Rangoon Rio de Janeiro Saigon

830 Francisco

Fengtien (Mukden) Seditio

Hamburg

Hankow

Harbin

Hong Kong

Honolulu Kal Yuent Karachi: Kobe London Lyons

Los Angeles

Beziarang Shanghai Shimonosekl

Commercial Contres throughout the world.

E.. HAJURA,

Manager.

HONG KONG BRANOU,

8. Des Vous Road Central. Hong Kong. 10th January, 1920,

THE BANK OF CHINA.

行跟國中

Reorganised October 26, 1928, under

these concerns gu lo receiverships before long,

The Immediate prospects, in the casualty and surety businoes are not reassuring. The growth of these branches, which was pheno-

THE BANK OF CANTON, LTD. Exinblished 1912.

*

Head Office: Hong Kong.

men's compensation insurance, but its contention is that when a State takes a monopoly of this class of can seduce the expense insurance and give larger compensation bone- fits without additional cost to in- dustry,

The great changes which have taken place in fire Insurance in the United States are indicated to some extent by a recent compilation based upon the sworn reports of companies to, the Connecticut In- surance Department. For the year' 1919, 141 stock companies, including United States branches of foreign companies, reported capital and surplus of $377,040,128, and a pre- mium Income of $583,032,429, or $1.55 of premiums for each $1 of capital and surplus.

For 1929, 217 companies reported capital and surplus of 31,301,711,- 611, an increase of 245 per cent. in ten years, and $909,845,227 In pre- miums, an increase of 56 per cent. In 1929 the reporting companies had 70 cents in premiums for each $1 of combined capital and surplus, The net amount at risk increased from $84,325,175,549 in 1919 $207,832,818,441, or 147 per cent.

STRAITS FINANCE.

DEPRESSION IN RUBBER AND TIN.

to

Singapore, Yesterday. The depression in the rubber and tin industries is reflected in the Straits Settlements budgetary estimate of revenue in 1930, which is $15,000,000 below the original estimates.

Tin has accounted for a deficit. of $6,500,000 and rubber for $5,500,000.

New taxation is being imposed; and borrowing powers are being sought for $20,000,000 to be ex- pended on public works, so as to relieve unemployment.--Reuter.

Ex- The Montreal Livestock change, formed in 1916, "for the benefit and furtherance of all in- terests directly interested in the buying and selling of livestock on the Montreal Stockyards", held its first business men's luncheon the other day, at which exzellent pro- gress was reported and at which a number of notables

were pre-

sent.

YESTERDAY'S SOLUTION

BET

SPA

TEARS ELAND

DE TOP AAR YES YEAST ETAH DRY BONE

TUDE HEED-R

RIP BOON GRON ALL ESSAY BN FALAGE

GOOSE EAR

NET RYE

DAILY CROSS-WORD PUZZLE,

(This cross-word puzzle has been made by an expert dut

our readers are warned to look out for occasional phonetic

spellings, euch as harbor, plow, and althe.)

12

13

[14]

17

ין.

16

17 18

15

18

20

124

28 29

130

12

13

't

154

-Authorised Capitol - (FLE. Currency} $11,300,000

Pald-Up Capital

Bosora Fund "...

$665.nor 1,000,00

ST BO

159

152

BRANCHES

157

68

169

70

22

Canton Bhaoghal, Hankow. Awalow, Blogtok, Hat fork and Fat Preacties

LONDON BANKRASN

The Lyd's Bank, Zulted. CORRESPONDENTS

In alt pracipal citire of the World.

For change and babklog, buricou o

Every Gowription need.

Bate Depot Eason fratique aires) Bì A THEY

rental of roa $5.10 $40.

LOOK.POONG SHAN,

Chief Manager..

special charter of The National Gov- Hong Kong, 14th May, 1970., erament as an e

INTERNATIONAL EXCHANGE

Subscribed Capital

835,000,000.00

Pald-Up Capital V

Reserve Funds

$24,710,200.00 $3,820,503.32

HEAD OFFICE BHANGITAL

HONG KONG BRANCH:

4. Queen's Road Central..

THE BANK OF EAST ASIA, LTD. Established-1918.

HEAD OFFICE:

10, Des Voeux Road, Central: LAN HONG KONG,4* *-

Capital & Burplus over H$8,000,000 Total Resources over H$30,000,000 Every description of Banking Owing to our numerous branches and Exchange business transact- in China and large connections in the ed, tmportant commercial centres of the Current and Fixed Deposit Ac (Temporarily world, we are able to extend to our closed)

clients special facilities for domestic counts in local and foreign cur Interest allowed or Current Ac and foreign banking and exchanges, rencies opened for cliente,

We all handle the issue of Bonds Savings Account and Safe: De- counts.

Deposits received for fixed periods and other Pubile Funds of the Ching posit Boxes, at rates to be obtained on applies esa Government hoth at home, and

Abroad tion

Manila Nagasakl

SMORL

SHOU JOHEN,

Hong Kong, 10th September 1930. Hong Kong, 5th March 1980

Branches and Agencies all over

the worldENZER

KANONG, PD.

Chier Manager.

HORIZONTAL

1-Resist

6-6tanda 10-Groove ...

14-Volcanio matter

:16-Be available.

16-Paat

17-86 ba it

18:Notturnal animal.

19-Arabián sonport 20 Kindlý: .

22-Harshest, 24-Meadowa.

27+DJos a1-Man of darning:

37-Foot-fever

89–1ñoonaldorable:

40-Wanders

-42-Rusto,

44-Nothing but

46-Table 'lande (West-

(**ørn U78.).

47-At no time:

349-A chemical suffix

*50-Bolled slowly

-52-riositated:

54-Agè

37-Pan sground 62-Tried:

2"

163 164 165.

HORIZONTAL (Cont) VERTICAL (Cont.)

27-Considers, 66-Den.000

07-Vant

89-8lab of baked olay

Ti-Elude

70-Ingilo..

172-Keltic language

73-Lump

174-Author of "Rabin

on Crude?

| 75-Décensed *

VERTIDAL

1-The dross of metal 2-Domesticated ... B-Uniform

4-Cape Ve

-Sets fres

e-Paint of compasu

og

(abbr)

7-Adds into one.

Amount

B-Mere natural":

-Attende

10-Mast

11-Lord

$12-Minoralm

13-Temporary abode 21-Jump USER. 23-Variety of cheape 23-Yehicle.

28-A.beron" 29-Ribbon usad for vestments 30-Preservéd 32-Vigor 93-Naar (post.) 94-The Scandanavian |

people 35-Placed in difficulty 38-One deeply attached 41-Cutting Instrument 43-One 'to whom re mittance made deliverable 40-Forceived 48-Trick

01-Avelded

13-Reposad 40-Cooiners 167-Low, dirty street

58-Traditional seat of

ancient Irish kings 50-Equipe d 100-Grealc god of war"

61-Deprived of hearing 43-Weary DEMAN 64-Harsine of Lohan? brin” adl BOSACE 58-Commotion

The solution of the abous orossword puzzle, will appear in to-morrow's issue along with a new cross-word puzzles

THURSDAY, OCTOBER 9, 1930.

Correct Styles FELT HATS: -

Andrews,

Battersby,

Borsalino,

Cambiaghi,

Hardeman,

Ward's,

etc., etc.

THE BAKILLY CO., LTD.

163-135, Des Voeux Road Central.

OVERLAND

CHINA

MAIL

A WEEK'S PAPERS IN ONE.

LOCAL NEWS, CHINESE NEWS. and all the NEWS.

The Weekly paper that saves you the trouble of writing Home.

The Hon. Colonial Secretary on October 2 introduced the Budget for the year 1931 asking for a sum of $23,365,335. He said that the Budget was seriously. influenced by three main considerations the fall in exchange, the revised salaries, and the Retrenchment Commission. The estimated expenditure for the coming year was placed at $29,787,855 and estimated revenue at $27,488,759, which would show a deficit of $2,299,096. The Colonial Secretary indicated that the drastic reductions had been made in the Estimates in connection with Public Works. He drew attention to the gravity of the financial situation, but at the same time added that he felt that a revival of better conditions within measurable time was Inevitable. It was indicated that assessment rates would be increased by four per cent. In this connection, it was pointed out that the Colony was still one of the lightest taxed places in the world.. The proceedings of the Legis. lative Council are fully reported in the OVERLAND CHINA MAIL.

"The glorious uncertainties of Ice House Street, com- pared with which those of cricket were as nothing""' were alluded to by Mr. F. X. d'Almada," jun., at an extraordinary- meeting of the Hong Kong Really and Trust Company, The meeting had been Limited, held during the week. called at the request of requisitioning shareholders to con sider reductions in the Company's share capital, which were eventually not approved. A full report appears in the OVERLAND CHINA MAIL.

In China, a sensational attack was made on Mr. Lenox Simpson (Putnam Weale) who has for some time been head of the Customs in Tientsin under the Northern regime. Considerable mystery surrounds the affair, but it seems fairly certain that political motives actuated the shooting and serious wounding of Mr. Simpson. The affair has caused considerable controversy, and is fully dealt with in the OVERLAND CHINA MAIL..

A dispatch from up-country reveals the shocking fate of two lady missionaries who have been in the hands of Chinese bandita since June this year. It is now learned that the unfortunate ladies were shot by the bandits near" Kengyang. The OVERLAND CHINA MAIL gives all details of the outrage.

Locally, traffic and sanitation campaigns continue to occupy the authorities, and the OVERLAND CHINA MAIL records their activities in these directions..

The opening of the Winter sports' season is compre- hensively dealt with in the OVERLAND CHINA MAIL, special reports of the numerous events being included.

There is no phase of the life of the Colony or of China that does not receive attention in the OVERLAND CHINA MAIL- the weekly paper that YOU MUST ORDER NOW:

Letters to relatives and friends in lia, and Canada testify to the keen other parts of the world frequently pleasure and interest its weekly jall to be written even by the most arrival bringe.

It is a ardent correspondents.

For your folks at Home to ra- kindly thought, therefore, to ensure ceive this weekly budget, or to keep that those away from the Colony, yourself posted with affairs during or folks at Home, should have an your absenes, all that you have to unfailing supply of Hong Kong do is to drop a note to the "Over and Chinese news every week-by land China Mall." means of a subscription to the

The word "Overland" is a re- "Overland China Mail"

minder of the experience behind the Without any trouble of packing production, it having been publish- and worrying about the Post Office ed since the early days of the on your part, and at the cost only Colony, to be sent OVERLAND of $3.75 for three months, the because there was no Suez Canal, "Overland China Mall" will be and that was the quickest routs, sent Home for yoie every week, by which to get nail Home. In catching the mail regularly. the march of time the "Overland contains the news and special Ching Mail has become the most features from the dolly "Ching popular weekly news budget, as it Mail" that make a studied appeal has been compiled just to suit to people with any interest present-day requirements, as it has "snatzoever".

rin, Hong Kong, and done all along. What more could many letters from Home, Apatru be desired

READY TO-MORROW

Mail via Suez closes at 10.30 am, Oétober 11. Mail via Siberia closes at 9 a.m., October 10.

SINGLE COPY

25 Centi

(Bold on the streets and at the bookstalls or you can-send your"- subscription to the officeHR $35 per 'wanum," or $16 Including postage abroad. - Half-yearly

or quarterly periods pra rata.j

No. 8A, WYNDHAM STREET PHONE 20022.

THE OVERLAND CHINA MAIL.”.