1930-11-14 — Page 2

Page

HONG KONG AND SHANGHAI BANKING CORPORATION.

Axibonioud Capet. $60,000,000 Immend end Pully. Paldrup mununin $83,080,660 Menores. Funde :—

Ing

TERUDTEE

£0,430,000 10449,490,000

Bears Lishllity of Propilatons,.. $23,000,000

READ OFFIOR: BONG KONG.

BOARD OF DIRECTORS:--

J. A. Plummet, Zaq.

Chairm

Too. M. 0. o. B. Mackie, Deputy Chairman.

W. ALBA, Plaq.

Hao, M. J. J. Peterson.

'ho kho báu, Eq. 1. En Prasad, Ios,

B. Land

AMOY

MJANGKOK

BATAVIA

BOHDAY

DALOUTTA

CANTON

EY

COLOMBO

PJAIBEN

POOCHOW

HAIPHONG-

g. T. II. B. Ghaw, Raq.

J. P. Warren. Bay.

Chiat Manager.

V. M. Orayburn, Esq.

BRANCHES:-

LONDON

LYONA

MANILA

MIAK (Jobara)

WOEDEN

HAGASAKI

NEW YORK

PLIPINO

PENANO

HANDCON

SAIGON

PAN PRANCISCO

HAMBUR

LANKOW

HARDIN

SHANGHAI

HONOREW

BINUAPORE

ILORO

HOURADAYA

1port

JONORB

BUNDEL PATANI TIESTAIN

KODE

KOWLOON

KUALA LUMPUR

10XYD

TSINGTAO

YOKOHAMA

Current Acounte opened in Local Currency and Fixed Deposita conaived for yo shorter periods In Loral CurreDay and Sterilng

in lets which will be quoted da appilation. Hong Koog, ɔ Apeti, 1980.

HONG KONG SAVINGS BANK.

The Stundens of the is Bank le conduct

Đề bài bản HDNO KONO AND ERANOHIT BANKING CORPORATION. Bules may be abtained on application.

FOR THE HONG KONG AND BEANGHAI BANKING CORPORATION.

V. M. OBATBURN,

Song Song, 14 July, 1990.

Oblet Munger.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V. 4NETDEXLANDƏ TRADING BOCIETT)

DANKERS.

Established 1934,

$long Song Office-il, Queen's Blood Central -Authorised Capital

Pald-Up Capital

Herts Fund

Gulider 100,000,000-

(18,500,000.

Builders 60,000 pod $20.000,170) Ouilders 40,016,000 (45,894,600)

ifood Of 1-AMQṛBADAM* Eastern Esed Of BATAVIA.

OMANCUES:-Deźdjermania, Dazdoway, Bombay,

Calcutta, Chariboa, Djaber, Djok jakaria", The Lagus", faddab, Kobe, Ruta tadja, Makasar, Medan, Padang Palemb Pekalongan, Tanang Dagoon Botterdam, Po Hamars*. Exangbal, Bibolga (female),

Boure balt flogspo Booskarta (Bolo], Taga, Tillajup and Walletreden

* The office have sala, dopoulos to la

Loaft Beckerni-National Provincial Bank LAB.

Comewapondan all over the world

Banklag buslare of 2107 description texassetal.

A. STOKKINK,

koling Meng.

Flong Kong, 19th August, 1980:"

BANQUE DE LINDO-CHINE

HEAD OFFICE:

96, Boulevard Haussmann, Paris,

THE CHARTERED RANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON,

Paid-up Capital

..£3,000,000

Reserve Fund

£3,000,000 24,000,000

Reserva Liability of Pro-

'prietors. ...

ALOB STAR

(Malay Diatas)

AMBLYBAR

Agencies and Branches:

BANG HOK

BATAVIA

BOMBAY CALCUTTA

CANTON

DAWNTORE

oxnn

COBONBO DAIREN (Dalny

Bouth Menchuris) DELEIS

"HAIPHONG

KUALA LUMPľa

KUCHING

MADRAS

MANILA

MEDAN

NEW YORK

PEKING

PENANG

PESHAWAR

BANDOON SAICION

BEMABANO

SEREMBAN

NIJA NOTEAT

(N. Manchuria)

HANDUNG ISANKOW

HARBIN

HỒNG KONG

ILOILO

H

KARACHI

KLANG

KORB

HUALA KANGSAR

Part 2.8.1

SINGAPORE

BOURABAYA

TAIPING (F.M.8.) TAVOY

TIRNIBIN

TOKYO

TONUKAH

THINGTAO

YOKOHAMA

ZAMBOANDA

(Philippine Islands)

THE CHINA MAIL.

Commerce and Finance

OVERSEA - CHINESE BANK.

11th Annual General Meeting.

The meeting

eleventh annual general of the Overses-Chinese

Bank, Limited, was held at its Re- Office, No. 188, Cecil gistered Street, Singapore, with Mr. Lim Nee Soon in the Chair.

The Secretary having read the notice convening the meeting, and the minutes of the last annual gen eral meeting having been duly con- Current Accounts opened and Fix.firmed, the Chairman, addressed the

meeting aa under:-

Foreign Exchange and Genera! Banking business transacted.

ed Deposits received for 1 year or which will shorter periods at rates be quoted on application.

A. I. FERGUSON,

Manager. Hong Kong, 8th January, 1920,

difficult times during the year under review I think you will agree that the results achieved are both satis- factory and reassuring.

Our foreign exchange department has had a pretty auccessful year. The period under review has wit- nessed the record low level of prices Taking advantage of for allver.

favourable exchange, remit- -tances to China from Malaya have

the

been very heavy, resulting in an

increased volume of business for ail banks.

We have obtained our fair share of the business to our con- siderable advantage. 1 am pleased to say that the exchange depart- ment has contributed a substantial of the Owing to the year's operations. share in the net results

severe slump now, with greatly re- I feel rather difdent na to whe-duced economic strength of the re- ther I should adopt an optimistic tobe in addressing you to-day when mitting public, the exchange bust- neas in the coming year is bound to suffer a serious act-back, but, while continuing our usual polley of caution and prudence, we will spare no effort to secure a proper share of the business.

I come to think of the serious man- ner in which the present severe slump is affecting the general trade THE HO HONG BANK, LTD. throughout the whole of Malaya

Authorised fanued

(Established 1917.)

CAPITAL:

Pald-up:

Reserve

Liabilities

of Shareholders Surplus

But as a restorative of that equili- brium which is essential to the sustenance of our capitalistic .Straits $20,000,000 society I am inclined to believe that 8,000,000 a note of optimism, even though 4,000,000 premature, will be a welcome relief 4,000,000 to the present depressed state of 2,528,000 mentality in the commercial world., At the same time one can hardly close one's eyes to the fact that the two principal industries upon which

HEAD OFFICE: SINGAPORE. Branches, Agencies and Correspon dents in the principal cities of the

world.

Soon after the close of our

financal year I regret to have to re- port the death of Mr. Tan Tiong

FRIDAY, NOVEMBER 14, 1930.

HONG KONG MARKET PRODUCE.

APPROXIMATE RETAIL PRICES.

Butcher Meat.

Best Sirloin

44

Prime Cut Corned Roast Breast

Soup

8tomk

Bullock's Brains

w Tongue, fresh

נt

ח

Capons,

Large

Dovsa

媒硭夷班薪本海拍白火火沙山美

da

*

高地南

098

火腿

Nov. 6, June, June,

1980. 1918. 1816.

Cts. Ct. Cla

30 31

1b.

60

55 28

"

60 28

"

each 35

40 22

22

21

21

per doz, 34

18

25

68 1b.

30

48

85

24

each 38 80

28

00

61

8893758*****8*888

svxea #6412889

རྭཛྲ འབཧྰུྃ་ང༅ལཕྱིརྞྞཧྰུྃ་

Nov. 6, June, June,

1980. 1918. 19ía.

C.-Cta. Ctu.

Poultry.

Chicken

ib.

30

24 28 30

12

11

Capons, Small

12 12

Duck

80 24 22

28

20

18

26

20

18

Eggs, Hon (cooking).... *

30 21 22

Eggs, Hen (fresh)

T

Steak Sirloin

41

44

80

86

Fowls, Canton

-

Sausage* ***

80 24

20

Fowls, Haidaṇ

Grese

per set 15

10

12

each 65

Pigeons,

Canton

50

60

JI

Tongue, corned 19 4

Hothow

-

80

Head

"

4

$1.00

-$1.20

H

Heart

Turkeys, Cock- Turkeys, Hen

#

24

18

14

17

Hump, Balt

4

20 18

Foot

là cách 10 10 12

Salpe *Pheasant

Kidneys

16 10

Tail

26

20

12

22

Liver

Ib.

24 18/ 14

Tripe

10

1

FD set $1.20 $1.00 $1,00

##..

10 26

Leg

34 20

90 lb.

"

*

Shouldar

81 24

ม

お

-Saddle

#W

82

D

80

27

Carambola

Brains

"I

蹭

Per set 8

-

12

楼糖

H

Feet

#

猪

Coconuts

Ib. 15

16

3

Fry

#

28 18

18

H

Lemona, China

#

H

Hand Hours

18 20

Lemons (American)

18

each 16

10 10

Kidneys

19 10 3

Liver

1b.

17

86 25 23

+

28

Calves' Head & Feet Mutton Chop

Pig's Chitlinge

Seng, our late General Manager. Mr. Tiong Seng had been a director of the Bank prior to his appoint- ment to the post which he held up to the time of his death and during Pork Chop the period of his management he had served the Bank faithfully.

Every description of Banking and i depends the well-being of Malaya The vacancy' has since been filled by

Exchango business transacted.

TAN ENG HOOI,

THE

INC.

-Manager.

Hand Offee: 65, Broadway, New York,

are at the moment suffering from severe overproduction and, Govern ment having decreed that economic laws must be allowed to take their course, which I suppose means lear- ing things to their fate, our only AMERICAN EXPRESS COMPANY, consolation is to hope that in the long run the Fates may turn out to be more beneficial and helpful.

Referring to the accounts before you I am pleased to say that our Balance sheet presents a healthy state of affairs and although most of the figures shew no appreciable change in comparison with those of the previous year we are maintain- ing a somewhat larger cash reserve of $5,100,000 which ia equivalent to over 60 per cent. of the total de posits. Following the Battled policy of the Board, our Loans and Advances are well distributed over a wide range of customers and have beon considerably strengthened by removal from

Capital

Surplus

Reserves

.U.S.80,000,000 U.9.31,672,454 ..U.S.$1,008,209

BRANCHES:-

Amsterdam Aniver

Ileale Berlin

ülasgow

Alayan

Bombay Brachad

Brussels

.. Hamburg

Hayr Interlaken Jeturiom Lido Loodos Littepool

Cabr Calcula

Скал Colombo

Constantinople

Copenhagen Elburg Flores

Luoride Luga Luxor Marlos

Monti Carlo

Hanlia

Munich

Mestre 11Ban

Saplos Piros Puria Innang Feking Palermo Roterdam Botta

Shatoul Shashal Southampton Bingapor H. Horke

Yianna

Toulon

Yokohama Zurich

BrancheA of American Express Company in Principal cities of Unit ed States of America and Canada,

Transactions undertaken.

reservca.

w

Le

Loin

J

Fat or Lard

the appointment of Mr. Tan Ean Sheep's Head & Fort Kian who as you are all aware had held the same post between 1925 and 1926.

H

Heart

Kidneys Liver

I am pleased to add in conclusion Sucking Pigs, to order F that during the year loyal afforts Snet, Beef and co-operation of the staffs of

Head Office and branches have Veal

to the steady greatly contributed progress of the Bank.

Mutton

$ # 9

༢༤ ༅ འ ཡྩོ་མདྲ་སྐྱ

Q = £215663AEZSÓCREAZZICETRARC=0B6CHEZBOVE#AREg

Quail Partridges

Almonds

Fruits.

Apples (California) 金山鄰熊

Bananas (bride's)

#UD*

48 80 24

42 60 70

Lichees, Dried ́...

Oranges (Canton)

Oranges

Peare (Canton)...

Peanuts

Persimmons, Large

Plantala

**

14

25 21

per zet 83 60 70

anch 12 8

པ

18 12 10

n

43 26 25

Pomaly, Siam

ib. 25 25 22

Walnuts

#4#

30 20 18

Grapes

36

26 20

Р

22 20

20

t

"

Saurages

牛仔鵑

23

No. 1.

$2

Fish.

#

Jb. 46

16

24

"P

30

20

16

I now formally move that the report and accounts as audited and certified by the company's Auditors. Barbel now before the meeting, ahewing Bream the Company's affairs as at June Canton Fresh Water GEREK 30 1930, be approved and adopted, and call upon Mr. Lim Book Kee to

Carp second by motion; but before put- Catash ting it to the vote, I should like to Codfish know whether shareholders have

Craba

any point to discuss arising out of Cuttle Fist the motion, or any question to ask, Dab and I shall be pleased to answer Dace them to the best of my ability.

Dog Fish

Our

No questions being asked the Sela, Conges Chuila Street to the present build- ing involves a transfer from Promotion was duly seconded by Mr. and unanimously

Fish

Fresh Water

perty Acquired to Bank Premises. .carried. and accounts for a reduction of the former and

Lim Beck Kea

**

Yellow

The Chairman then moved that a

Frogs Garoups

Gudgeon

Herringa

Halibut

Labrus

ment.

a corresponding in-dividend of 7 per cent, on the paid crease of the latter assets. Apart All classes of Commercial Banking from these items the others are self up capital of the Comppany be de-- clared and paid to the shareholders explanatory and call for no com- whose names 'are on the registers

na on October 18, 1930. Profit of $481,000.

This motion was seconded by Mr. Lonch Our nett proat for the year Ong Seng Say and carried nem. Lobsters amounting to $481,000 compares favourably with results of previous years, and having regard to the

Personal investment

Subscribed Capital Frs. 72,000,000.00 Pald-Up Capital ...Fri, 68,400,000.00 handled. Reserve Funds ....Frs.102,000,000.00

* Canton

BRANCHES:

Bangkok Hong Kong Quinbon Battambang Hue

Saigon Canthe Mengtra Shanghal Nam Dinh Singpore Djibouti Neumer + Thanhas Fort-Bayard Papeete Tientsin Peking

Tourane Pnom-Pooh Vinh Pondicherry Yunnanfa BANKERS:

Haiphong

Hankow Hanni

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

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 & Co.; Frerich American Banking Cor- paration; Guaranty Trust Co. of New York

Interest"allowest 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,

Manager.

Hong Kong, 1st May, 1929.

THE YOKOHAMA` SPECIE BANK, LIMITED.

Established 1880.

Capital (fully paid-up) Yen 100,000,000 Reserve Fond *...Yen 118,500,000

Head Often: YOKOHAMA.

Branches and. Agénelòs at:

Nagoya Alexandria

Newchwang New York Osaka

Batavia

Bombay Buenos Aires

(Temporarily

closed).

Calcutta

Canton

Changchun

Datren (Dalny)

Peking Rangoon

Rio de Janeiro Saigon

San Francisco

Fongtien (Mukden)-Seattle

Bamburg

Hankow

Harbla

Hong Kont

Honolala

Kai Yuen, Karachi

Semarang Shanghal Daimonovel

Singapore Soersbaya Sydney Tlontsin Tokyo

Trinita

Hong Kong, 10th Septem

accounta

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

Affliated with

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

E. W. DUGGAN,

Manager.

THE BANK OF CHINA.

行銀國中

Reorganised October 26, 1928, under special charter of The National Gov. ernment as ZE

INTERNATIONAL EXCHANGE

DANK. Subscribed Capital ....$23,000,000.00 Paid-Up Capital.....$24,710,200.00 Reservo Fúnda ....................$ 8,820,603.88

HEAD OFFICE: SHANGHAL

HONG KONG BRANCH:

4, Queen's Road Central.

Owing to our numerous branches in China and large connections in the important commercial centres of the world, we are able to extend to our clients special facilities for domestik- and foreign banking and exchanges.

We lo handle the issue of Bonds

and other Public Funds of the Chin- ase Government both at home and abroad.

A

SHOU J, CHEN,

Hong Kong, 6th March, 1980.

THE BANK OF CANTON, LTD.

Established 1912,

Head Office Hong Kong.

Authorised Capital.(U.K. Camonay) $11,000,000 Paid-up Capital

8,685,000 Reserva Fund

100,000

BRANCHEB:-

Canton, Phanshal, Hankow, dwstow. Bangkok, New York and Bna Francisco,

CORRESPONDENTS

LONDON BANKERS —

The Lloyd's Danir, Limited.

la ali priznižal cities of the World.

Foreign exchange and banking biases of every decription treasmatei

Bale Deposit Boxes (Tarious sizes) at a yearly

rental af from 35 to $40.

+

LOOK POONG SHAN,

con.

Mackera

Moved by Mr. Lim Book Kee, and Monk Fish seconded by Mr. Tan Ean Klaim the Mullet Burn of $8,000 was voted as Direc- Oysters,

Parrot Fish tors' fees.

The Chairman

Perch informed the

Pike meeting that in addition to the re-

Plaice tiring Directors five gentlemen had

Pomfret, White been duly proposed for election,

Pomfret, Black namely Dr. H. T. Wee, Messra. Lee

Prawes Kong Chian, Ong Pla Teng, Lim

Bay Liat Boon, and On Sian Guan; while Mr. Oei Teck Seng had writ- ten in to say that he did not seek re-election.

Rock Fish Roach

Salmon Shark It was resolved, on the motion of

Skate Mr. Check Cheng Kee, seconded by Shrimpa

Mr. Cheong Chwee Puan, and un-snapper animously carried, that the follow Soles Chief Managering gentlemen be elected Directors Tench for the current year;-Dr. S. C. Tarbot

Hong Kong, 14th May, 1000.

THE BANK OF TAIWAN, LTD. (TAIWAN GINKO.)

HEAD OFFICE:--Taipeh, FermoSS. Incorporated by Special Imperiat Charter, 1899.

Central Bank 2

• In-Poczona. Dank-Notes Insund Average Amount ---Tex. 45,000,009 BRANGILES AND AGENCIES: JAPAN (—Tokyo, Yokohama, Kabe, Osaka,

Kagi, Karenina, Keglung: Makong Nanto, Shinshiku, Taiębu, Talman, Takso, Taman), Tren, Helios Talto.

FORMOSAD

CHINA-Bhanghai, Hankow, Amor, Foochow

wasow, Cantone

OTHERS-Hong Kong Singapore, Barabaya, Bettgrang Bombay, Onicatta, Logon New Ye Dhiren

LORDON DANKERS:

Yin, Mr. Chau Kah Cheong, Dr. H. T. Fartles, amali, fr, water

Wee, Messrs. Lee Kong Chian, Ong

Pia Teng, Lim Liat Boon and Oh Sian Guan.

魚魚魚

钴肚永 VËRESHA KESKEN PELAR DE MK, AZ BAKUSSZERVOERBÇİRLEIHERN

• 沙發班魚白甲花魚蝦魚魚魚婭魚鱗魚和蝦蒍公魚站魚 公斑

金鼠

·

:::རྫཌྷ བ བ རྗ རྟ

2

Artichokos

杏

each 26

pair 2.00

each 28

90

12

each 13

10 #lb. 登山檸檬·each

✯✯T `.

14 "

18

新食品機

#

免

60

12

བྷྲ་ྒུ༞ ། ༷༅སྐ# ཋ སྤྲ ཙ ཤཱ ! 1:n ཀྟྭཱ ཨཱུ R

T

14

5

#

1

*

#

#

W

T th cách 16

# 18.

18

IN

Vegetables, &c.

Bean Sprout

Beet Root Bitter Squash

Brinjals, Green

ม

Long

梨生柿油杭子

(Medium) SISTE

Chillies, Dried

Red

Green

AL #

瑋花椒

Carry Stuff. English.... #JAMB

Cucumbers

Gloger, Young

Horseradish, Shanghai

each 10

14

10

כו

"

"

18565 - 6 7 8 5 5.S««poëtaë

དྷནཱ་སྨཱ བྷ ཧྨ7a | | | ཋ མྦྷཡསྱཱ༐ །

** | | | - •« •

8

2

6

T

27

10

8

45

≠នឌគគ 1 នននន | | | ± | ├[-

10

30

88 18 19 1918 17

.12

10

5---}|-!!!!....|.| | | | | an

24

6

18

Red

6

27

Cabbage, Chineze

D

(Shanghai)

.18 12

▸

17

Care Bhoots, bunch..

www.y

26

CauliBower (Large) ·· ★BATE

each 36

27

30

30

16

(Small)

熬糖榮花

25

6

Carrots

lb.

6

8

Celery, Chinesa

***

106

辣椒干

25

8

10

80

14 8

26

10

30

18

Garlic

20

15

Old

18

62

24

Indian Corn

21

Lettuce

生

20

Water Chestaute

- 10

21

Mandarin. S

2

Mushrooms. Fresh

0

Okroes

1

ΓΑ

15

# # #

8

B

8

16

0

Green

0

4

4

- Je

29

Shanghai

上海源頭

8

BO

Parsley

50

60

8

45

Potato, Sweet

5 8

14

J

Japanese

日本千

4

18. 10

American

金山轉行

7

3

25 *13 18

Pumpkin

4

4

10

Radish

紅蘿亹仔

80

Rhubarb (Fresh)

10

Shallots

您問

10 10

Splosch

BO

Tomatoes

28 28

28

26 85

12

Water Cress

ឌ វ ៖ គឺ ៖ គ គ គ ឌ ឌូ ៦ ៦ ៖ ត ត ម ន ម ឌ ឞ ឞ គឺ ឌ ឌ & ឲ ៖ ទ ន ឆ ខ ភ ម នុ៎ះ ឌ ឌ ដ ៖ មន

1828289822-2889**-**-*-**8*⠀⠀⠀À⠀⠀⠀⠀ ********

Onions, Bombay

Taros

Turnips, Pasti ́(Long)

Vegetable Marrow

Water Lily Root

Mr. Tan Ean Kiam moved that of being unable to cover their sales MONETARY POLICY.

auditors, Messrs. at lower prices.

So every time

the retiring. Evatt and Co., be re-elected au- there is a dip in the market quota- become convinced ditora for the current year: This tions, people was seconded by Mr. Lim Bock Kee that bad times are ahead and strict As & re- economy is practised. and duly carried.

The meating terminated with adult, the buying of absolute needs hearty vote of thanks to the Chairis the order of the day." [!

When I asked him how he would meet this problem, he replied:

"It is a vicious circle and in my

2011.

The Leados Couy Westminer and Parra bank, NATIONAL BUSINESS opinion the bear operators on the

-The Bank has Colpeependents to all the principal Commercial Coning throughout the world,

E. NAGUNA.

Msangar

Manager,

HONÓ HOXO DEANUM......“,

-3, Dea Vaur Road Contzil. Hong Kong, lith January, 1929.

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:"

10, Des Voeux Road, Central, HONG KONG

Capital and Surplus

Total Resources i

over II.$8,000,000.00

over H:$30,000,000.00

Every description of Banking and Exchange business transacted.

Current and Fixed Deposit Accounts in local and for-

randies opened for cliente,

Account and Bufo

WHAT IS THE REAL EFFECT?

The

PROTEST TO THE PREMIER.

Manchester, Sept. 16. Manchester Chamber of

10 7

8 4

10 16

運

8 15

UNCLAIMED TELEGRAMS.

THE EASTERN EXTENSION AUSTRALASIA & CHINA TELEGRAPH CO, LTD.

The following unclaimed tale Commerce draw up a memorandum grams are lying at the E.E. Tele to-day on the handicaps and dim-graph Co. Office, Hong Kong:- culties resulting from the monetary

Jenkins, Peninsula Hotel, from Lansing, Mich. alley, both national and inter-

Senpakubu, from Bangkok. national, and decided to send it to the Prime Minister.

Woods, from Liverpool, Po.

8. LACK,

Superintendent.

Hong Kong, November 18, 1930.

1

New York Stock Exchange are largely responsible. It is esti

It stated that the restoration of mated that about 5,000,000 shares of stock have been borrowed by the the gold standard automatically in- shorts to deliver against sales, creased the real cont of wages and The sale of stock, which the shorts xed charges and also Increased the do not own, in the absence of public real cost of the service of the

National Debt.. "Frankly, do you believe the buying enables that crew to de-

The monetary position, it stated, stock market, with its frequent ups press stock price almost at will and was one of the greatest barriers to and downs to-day, has any real make huge profits, while destroy a recovery in trade generally, and effect on the business of the coun- ing public confidence and, thereby in the cotton trade in particular, try?" saks a correspondent of the andermining our Industries and and until this difficulty was re-

business generally." N.A.N.A. business, expert,

moved attempts to solve the problem "But what can be done about it?" of unemployment were doomed to grams are lying at the office of The following ́ unclaimed tele- I had been discussing this mat ter just before R. T's letter arrived. "I believe that if Congresa enset- | failure,

T

THE GREAT NORTHERN TELEGRAPH CO., LTD., OF DENMARK,

with a well-known business man, ed a law making it illegal, for a The Chamber also passed are the Great Northern Telegraph

Company mark

[(Limited), pof

Den-

G. P. Broadloom, from Bradford. Hahn, Peninsula for Hong Kong Hotel, from Yokohama.

whose net gain in the stock market period not longer than one year, to solution expressing the opinion that in the last five years has been re-sell securities not actually owned by "it would be highly undesirable for ported in eight figures, he writes. the seller security values would be the Government to contempista any This business men belleves that stabüized, public confidence re-reduction or removal of the existe while the crash of last fall did stored, and Increased demand for ing excise and import duties on silk bring disaster to both poor and rich commodities would restore produc- and artificial silk in the Budget for alike, few have idle funds to-day to tion to normal and unemployment 1931, and that the Chancellor of the Jamalca. buy stock. The result is that the would be a thing of the past within Exchequer should reaffirm the un- bears can depress almost any stack a reasonably short time."

dertaking given last year that

“by d offering | There is much merit în auch a stockholders would receive a rebate

without fear | suggestion

should the duties be discontinued."

King Mo Chao, from Kingston,

F. V. JENBENA

Superintendent. Kong, November 13, 1980.