1931-03-13 — Page 2

BANK S

HONG KONG AND SHANGHAI BANKING CORPORATION.

Aulborian Capital $50,000.000 Isued and Milly Pudup $10,000,000 Berve Punda som

Haring.......... £6,500,000 Su......

10,000,000

Bears Liabily of Proprietore $20,000,000 HEAD OFFICE: HONG KONG.

BOARD OF DIRECTORY:—

Hon. Mr. C. G. H. Atackle, Chadraian.

I. Mr. J. J. Fator,

Deputy Chalm

W. E. Bell, Kan.

A. 11. Colon, Pag.

T. E. Pearce, Eng.

Ꮧ . Phammer. Bay,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA., Incorporated by Royal Charter, 1553.

MADHAR

THE HO HOND BARK, LTD.

(Established 1917.)

THE

READ OFFICE:-SINGAPORE. Hong Kong Branch: 13, Queen's Rd, C. Authorised Capital Straits $20,000,000 Isaved Capital

Branches, Agencies and Correspon. dents in the principal cities of the world.

Every description of Banking and Exchange business transacted.

TAN ENG HOOL,

Manager.

HEAD OFFICE: LONDON. Paid-up Capital

£3,000,000

Reserve Fund .... Reservo Liability of Pro-

£4,000,000

prietora

...£3,000,000

Paid-up Capital ... Reservo Liabilities

21

8,000.000

**

4,000,000

agencies and Branches:

of Shareholders. Surplus

"

ALGR STAB

4,000,000 2,520,000

KUALA LUMP

(Malay ston)

коски

AMRITSAR

BASGEOK

BATAVIA

MANILA

MURDAY

MEDAN

CALCUTTA

NEW YORK

CANTON

CAMNPORE

PERINO

(C

PESANG

PESHAWAR

BAREN

Sono

South Manchur

D:1.11

SEMARANG

HAIPHONG

SEREMUAN

HAM:

SHANGHAT

HANKOS

SINGAPORE

ANOT

HARBIN

HOURABAYA

(N. Manchutin]

TAITING (F.M.B.)

1385 KOK

ING HO

TAVOY

GATAVIA

LOANLO

SBIN

BON BAY

MANILA

toil

TOKYO

TONORAH }

CALCUTTA

MUA Jared

KLANG

TRINO AD

MUXDEN

YORUNAMA

НАВАЧАКІ

REALA FARGHAR

ZANDDANDA

NEW YORK

(F.M.3.3

PEITING

Foreign

Exchange

(Pippin and

landwi General

» Zander Lande, Emp T. 1. 2. Kham, Eng.

6. Malin, R.

CANTON CHEPINS COLOMBO

JAREN. POOCHOW

J.

P. Wamu, Fan,

Chief Hunger.

V. M. Brylum, Kaq.

BRAŃCLES →→

LONDON

LYONS

MALACIA

PENANG

BASQUON

SABRIN

HAMBIFRO

HANKOW

SAN FRANGINGO

DAMUN

NANCIAL

BUNDLEW #101

SINGAPORE

JURORK

K042

KOWLOON

KUALA LUMPAL

NARAYA

SERGEI PATANI

HENGSIN

TOKYO

TSINGTAO

YURCHIAMA

Current Acounts upstand te Los Curentuny and hand Despre montred for use your where Loral Curry and string we were wach will be quoted on applicatica. Hong kong 2 buy, ill-

HONG KONG SAVINGS BANK.

"

The union of the abuse lauk is noudisi ed by the STENG KONG AND HAKUHA

Rules Toy bo BASISO CoNPORATION,

appin all.

THE DONGKONG AND SHANGHAI BASKISO COLORATION,

V.. YAYBURN.

Hong Kong, Ath July, 190,

Chord Manager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

9, Boulevard Husemana, Puris.

Subsribed Capital. Frs. 72,000,000.00 Puid-Up Capital...Fra. 08,400,000.00

....Fr.102,000,000.0

eserve Funds ....

BRANCHES:

Hong Kong Quinton

Saigon

Bangkok Jattambang Hue

Jantho

Canton

Djibouti

Mengtze Shanghai Nom-Dinh Singapore

Thanbou Neumea

Tientsin Peking Touranc Harkow Pnuri-Pora Vinh

Pondicherry Yannanfu BANKERS:

Fort-Boyard Tapeete

Haiphong

taaoi

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

IN LONDON: The National Pro- vincial & Union Bank of England, 14: Comptoir National d'Escompte

J Pariz; Credit Lyunus.

IN NEW YORK: J. P. Morgan & Cop Wrench American Banking Car

ration; Gunranty Trust Co. of New York..

Co

KARACHI

Banking bustness transacted.

Current Accounts opened and Fix- Deposits received for 1 year or which will slarter periods at rates

equated on application.

A. H. FERGUSON,

Manager.

Hong Kong, 8th January, 1929.

THE NATIONAL CITY BANK

OF NEW YORK.

HEAD OFFICE: 55, Wal! Street, New York.

Capital, Surplus 'and

Undivided Profits..U.S.$224,654,208

Branches in:-

ARGENTINE LONDON

BELGIUM

MEXICO

BRAZIL

PANAMA

CHILE

ERU

CHINA

HILIPPINE

COLOMBIA CUBA

ISLANDS

PORTO RICO

DOMINICAN

STRAITS

REPUBLIC

INDIA ITALY JAPAN

SETTLEMENTS URUGUAY VENEZUELA

Commercial and Travellers' Letters of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers Current accounta Lought and sold. and Savings Bank accounts opened and Fixed Deposits in local and for- eign currencies taken at rates that may be ascertained or application to the Bank.

We are also able to offer our Cus tomers the services of the Branches

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING BOCIETY)

BANKERS.

Establisting 3821.

Krug Ore:-15, Queen's Road Central: Authorian Capital

Guilders 150,000,

Pad-Up Capital Rezerve Fund

(£12,200,000.) Quilder 0,030,00 126,508.175) Guilders (0,015,k

Ilad Ure:--AMSTERDAM Falar Bead Office-BATAVIA

1

CHINA MAIL.

FRIDAY, MARCH 13, 1931.

TRADE PROSPECTS,

and SIR A. STEEL-MAITLAND URGES

Commerce

Finance

“CRUCIFIXION” OF TRADE

Menace of National Extravagance.

i

COMPANY REPORT. GODOWN COMPANY MAKE SUBSTANTIAL PROFIT.

"SPRING CLEANING."

WATER RETURN.

The love! and storage of water in our reservoira on March 1, 1031, s. as unter:--

City and Hill District.

1030 1931- 13' 7' 24'11" 24' 1'8 28' 2"B

of gallons.

"The moment people regain con- Adence, this depression will join Tytam

Tytan Byewash all those that have preceded it Tytan Intermediate 34'10"B 30' 'B and we shall enjoy good timos Tytam Tuk 41 DB 32 1B ngain," declared Sir Arthur Steel-Wong Nai Chung, 21'11"B 24' 0"B.

former Maitland,

Minister of Pokfulam ... 18' GB 21' 0''B [Note: B. denotes "Below Over. the "Proa- Labour, speaking on

How": A. denotes "Abovo Overflow": pects of World Business in the denotes "Level with Overflow.")

Storage in millions and decimals Coming Year." to a largely attend- of the American The annual report of the Honged luncheon Kong & Kowloon Wharf & Godown Chamber of Commerce in London

"As to Great Britain, Tytam Co., Ltd., for the year ended De- rucently.

Tytom Byewash cember 31, 1930, atates:-

however, while our trade will re-

Tytam Intermediate was vive with a general upturn of Tytan Tuk working The profit on

compared with world trade, we shall have to face Wong Nei Chung

special problema and must get Pokfutumn... $1,192,267.36 as $1,302,861.86 in 1929.

The balance for the year, after over our habit of having too much

to $200,000

Re-confidence in past." transferring

Pointing out that Great Britain newals Account, deducting Direc tars' and Auditors' Fees, allowing was, even before 1913. losing its ahare of world for depreciation, and other out-proportionate

ix goings,

$665,610.30. The trade, Sir Arthur said that this

Consunifition

-

1930

· 1931

279.50

203.31

1.03

53.14

4947

663.75

764,58

6.80

0.03

27.24,

22,50

"The American orator, Mr. W. J. Bryan, once anld that this world was being crucified on the cruss of

202.15 1,038.70 Totil gold. 1 am sometimes inclined to

Consumption of water in the City and Hill District in millions and de think that the industries of this

chmals of gallong during the month country are being crucified on the

of February. cross of national extravagance."

.1930 1831 This remark was made by Sir

Consumption M 184.19 201.34

450,620 Frederick Lewis when presiding at the general meeting of the Houlder amount brought forward from last ountry must rationalise its indus- Ketimated population 140,300

per

14.9. 15.0 hud per day... on a level with Line, Limited, at 58, Landenhallen is $370.119.77 making a totalries and institutions, and put its

of $1,033,730.13 available for ap-production costs

February, 1920-From February i Street, London, in mail week.

propriation.

world conditions.

to 23. a 12 hours supply (6 nan- This is a terribly unpleasant) was given to all Rider Main "One of the most distressing fea-i

The Directors recommend the

usiness," he continued, "but we Districts (Principal Mains closed tures of recent political develop following:

must .have ment," he continued, "was the ap- To pay a dividend of $0

a Spring cleaning. 6 p. a.m.). $480,000.00 The

trades the Government, pointment of a Royal Commission to consider the working of the Un- To pay a Bonus of $3 pr.

210,000.00 unions, and industry must all bear simre Insurance

A Art.

We have been up 315,790.13 their shinre. To carry forward BRANCH28:- Bandformasla, Besdong, Dontay employment

against it largely through our own Cercette, Llleribon, Dunbar, Dick House of Commons Committee had.

$1,035,730.33 fault and nobody else's." jkkurin, The Jing, JedJab. Bole. Fielo-iladi. Makassar, Madan, Padona for months previously been investi-

Directors, Palembang, Pakatongen.

It was a mistake, the speaker Pontianak, Rangoon, Rotterdam gating this question, and must dur-

in a Mr. T. B. Wilson and Mr. J. Ewent on, to attribute the present Samarang Bingbal fuboling that period have been Humar (For Tile and position to obtain all the informa Joseph retire according to the slump to a supposed shortage of Sumatra,

Milevredeti".

chable the Com- Articles of Association, but beingold, although he pointed out that tion required to mittec to make recommendations eligible. offer themselves for re- the gold available for monetary shrunk by for any

necessary amendment of election.

purposes had actually

30 millions in 1930 owing to the scheme so that it the insurance

sterilisation of large amounts in might be placed on a solvent basis. "But presumably because the

the United States and France Government sro unwilling to incur

He pointed out that gold relative Government

to world trade was becoming short the responsibility a

long before 1929, and yet a great should assume, the urgently needed

business boom was witnessed in action is deferred by the appoint-

that period. The presence of con ment of a Royal Commission, and meantime the fund continues to run

dence offset the shortage of gold. he said, adding that prices are into debt at the rate of £30,000,000

the velocity of naney as well as the amount of it in circulation.

Funn

d

This ofen bare safe deposit boxsa ja let. Loodon Bankers:-National Provincial bank

Corporate all over the world Hankles bminem di every description iranaseted.

A. STOEKINK.

Acting Manager.

Long Hoog, 18th August 1930.

THE BANK OF CHINA. 行 銀國中

crament as an

Commission

Auditors.

Messrs. Percy Smith. Seth & Fleming. Incorporated Account ants, and Linstead & Davis, Char- tered Accountants, have audited now presented and the accounts vifer themselves for re-election,

BRIGHTER OUTLOOK

Reorganised October 26, 1928, under or £40,000,000 per annum till auch REMARKABLE GROWTH OF TIN determined by

the Royal

CANNING. special charter of The National Gov-time as

make their report and their recom mendations can be carried into effect which will probably occupy the greater part of a year.

INTERNATIONAL EXCHANGE

BANK.

Subscribed Capital....$25,000,000.00 Paid-Up Capital .....$24,710,200.00 ..$ 3,820,603.82 Reserve Funds

HEAD OFFICE: SHANGHAI

HONG KONG BRANCH: 1. Queen's Raad Central.

Owing to our numerous branches in Ching and large connections in th

The Greatest Problem.

February, 1931-From February 1 to 28 a constant street fountain supply was operated in all Rider Main Dis triets excepting 3 days (15-18th in- clusive) when a Full Supply was given on account of Chinese New Year.

Kowloon,

1930 1031 6'4" 14' 0"B Kosilon Reservoir Shek Lai Pui

Reservoir

10' 1"E 5' 7" Reception Reservoir 7" 18"B Storage in millions and decimala of gallons.

1630 1031 Kowloon Reservoir.

und Byewash

289.7a 232.00 Shek Lai Pul

Reservoir

78.72 26.40 Reption Reservoir

94.50

6,22

Total

391.90 332.72 Consumption of water in Kowloon in mallions and decimals of gallons

1931 117.51 179,140

during the month of February.

1930 Consumption.... 100.26 Estimated population 174,100 Consumption per

20.0 head per day...

23.4 Constant supply in all districts dur-

Total rainfall: February 28, 1930,

During the recent slump the price of tin fell to £104-9/16 per

He thought the greatest presenting February, 1980 and 1977.

The Government Analyst's reports ton. I! has since recovered

problem was to rectify the present show that the quality of the water and ton £120-1/16 per

lisequilibrium between wholesale is satisfactory. the

18 moment present

prices and the cost of living. £113-16/16 per

Probably the over-production of quoted at Less than two years ago it stood

TRW materials had been al £220% per ton. Tin, of course, estimated; it seems likely that in not the only commodity that such products as rubber, for in- has slumped by over 50 per cent.stance, there would now be no during the past two years, and as surplus stocks if general business

Trade with the Argentine. "lleavy taxation is largely the to cause of increased costs of producat tion, and high taxation is partly due to the manner in which the in- surance schemes have operated, all of which aggravates the insurance problem."

Sir Frederick said that the ac-

is

over-

of the International Banking Corporn- important commercial centres of the tivities of the Houlder Line were all commodities during that period had not had such a severe setback i

tion in San Francisco and Spain and also of The National City Bank of New York (France), S.A., and Nice.

largely concerned with the trade between Great Britain and South America, particularly the Argen- Line, and added:

world, we are able to extend to our clients special facilities for domestic in Paris and foreign banking and exchanges.

We also handie the issue of Bonds and other Public Funds of the Chiq- F. McD. COURTNEY,

Manager.ee Government boll

al.read,

Hong Kong, 20th February, 1931.

THE

Currunt A AMERICAN EXPRESS COMPANY, Interest alowed on counts and Fixed Deposits according Lo arrangements.

Every deseription of Banking and

Exchange Buriness transacted).

LIMITED.

THE YOKOHAMA SPECIE BANK,

Established 1880.

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

INC.

Head Office: 65, Broadway..

New York,

Safe Deposit Boxes to let.

A. LECOT,

Manager.

Hoc Kong. t May. 1929.

Capital Surplus Reserves

.U.S.$8,000.000 .0.5.81,072,451 .U.S.$1,008,209

BRANCHES:-

Athttdao Antwerp Athen

Nic

Deals

Delta

BLATTIA

Yen 115,000,000

Bembey Besin

Glasgow ELTERN Habsburg 11avre Interlaken Jaruvalaco

Suploa Pirque

TUDE

1.

Alczandrla

Head Ofce--YOKOHAMA. Branches and Agencies at:

Nagoya

Butte Airm Calro

Labora

L

Batavia

Nowchwang

Barabuy

New York

Osaka

Buenos Alrez

(Temporarily closed). Calcutta

Canton

Changchun

Dairen (Dalny)

Peking

Rangoon

Rio de Janeiro Saigos

San Francisco

Fongtion (Mukden) Seattle

Hamburg

Hapkow Harbin

Hong Kong Honolulu

Kai Yuen

Karachi

Kobe

London

Los Angeles

Lyons

Marija

Nagasaki

Semarang

I

Shangkal Shimonosoci Singapore Scerabaya Bydney Tientsia

Tokyo

Tsinanfu

Taingtau

Vladivostock

(Temporarily closed)

Interest allowed or Current Ac consta

Deposits received for axed perioda

at rates to be obesinud on applica ilon.

r

H. MORI,

Manager.

Hong Kong, March 11, 1931.

Calcutta Contes Colocato Continop Copenhagen Palaborgh

Flore CITA

Branches

London Idverpool

Luxor

Manifes

Santa Carlo

Manila

Manich

Montreux

Milan

Irking Palerme Butto-der Tiina ALT bol Shanghai Southampton Singapore

St. Marlie Trails Vienna

Venice

swhotratos Zurich

of American Express Company in Principal cities of Unit- ed States of America and Canada.

at home and

SHOU J. CHIEN,

Hong Kong, M. March, 1930.

bring recovery until

have been depressed by a common through over-extended apeculation

already hopeful and 1929. factor or factors, the recovery, of in the security markets in 1928 which there are signs, should be of a general char. Money rates, he considered, aeter owing to the gradual mitiga-would not "Great Britain already enjoys a

of the adverse influences, considerable export trade to South tion

writes a city correspondent in the British goods con- America, and Maversnand an excellent reputation, but London Evening Standard.

That is not to say, however, that I am credibly informed that Dill' marufacturers would devote more the response to improving condi tions. will not be quick in the attention to studying the require- ments of their prospective custom-case of some commodities than in a in South America there is room for a very great increase in trade.

"The British Trade Exhibition

THE BANK OF CANTON, LTD. Established 1912.

Head Office:---Hong Kong. Authorised Capital (T.K. Currsney) $11,000,00 Paid-Up Capital

1,000,000

Canton, Shanchal. Hankow, watow, Bankok, New York and Sea Frue

FundRANCHES

CORRESPONDENTS

LONDON BANKERS-

The Lloyd's link. Limited.

10 all principal cities of the World.

Freign exchange and banking balm of avary dancripilon transeled.

Rafe Bepi Botorious fees) at a guarly fauled of fonts $5 to $10.

LOOK POONG SHAN,

Chief Manager. Bong Robg, 14th May, 1980.

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

public confidence is resumed, this explaining why slumps last long- er than booms. Probably commo- ity stocks are materially larger now than in 1921, and for this

nising for Immediate recovery 83 reason the situation is not so pro- others. Each commodity market in that year. Much depends on has its own individual circum:the price at which the present stances peculiar to itself and commodity stocks can be cleared.

The end at Buenos which affect it independently of

of the slump, Sir Aires by our greatest Ambassador, other markets. I think it may be Arthur concluded, is largely in the Prince of Wales, will no doubt claimed that the tin industry has the hands of individuals and the done all that could be done at the view which they take about the stimulate interest and encourage

production end of the industry to future. This is especially true of strengthen the position.

shortly to

be opened

developments to the mutual beneat

of both countries.”

JAVA'S SUGAR TROUBLES.

The Chadbourne Scheme's Chances.

Batavia, Feb. 16. Fow commercial questions attract the attention of the public'in' gen- HEAD OFFICE:-Taipeh, Formosa.eral but at present the question of

Incorporated by Special Imperial

Charter, 1899.

Central Bank i l'ormos Bank-Notor sued Areisgn amount «Yen £5,000,000 BRANCHES AND AGENCIES,

All classes of Commercial Banking JAPAN-Tokyo, Inkakaras, Hobo, Osaka. Transactions undertaken.

Personal

handled.

investment

Affiliated with

FORMEGA-Oiraz, Rap, Karenko, Keelung,

Takeo, Tama, Toon, Heito, T

accounts CHINA-Shanghai, Bankow, Amor,

*Swalow, Canton, OTHERS-Hong Kong.

THE CHASE NATIONAL BANK Resources Over G$2,605,000,000

Singapore,

Bombay, Bemarang, Bala Luytoa, Now Tork, Dairen.

LONDON DANKERS ·

K. NAQVI

Poochow

Caloutts,

Masage.

HONG KONG BRANCH

& Des Your Road Central.. Hong Long, 19th January, 1925.

the Government's co-operation in the Chadbourne scheme has caused interest all over Java,

the people of the United States, A large measure of co-operation who have become such an import- has been secured among tin pro-ant factor in world economy that ducers. A Tin Producers' Asso-

a lead to other they can give formed ciation has been

and

Countries. On the whole, he took voluntary curtallment of output

a moderately optimistic view of has now been seconded by Govern- the probability of a gradual im-

No scheme of res- ment effort. triction, however, will in the long run prove more thun a mere pal- Hative, and this the leaders of the

to MANCHESTER TRADE tin-mining industry

appear . realise.

The Tin Canning Industry. Not to restriction of output, but

! provement.

ANNUAL REPORT OF CHAMBER OF COMMERCE.

The annual report of the diree

2

1980

remem-

300; February 28, 1931, 87.

AN INTRODUCTORY

HISTORY

by

A. H. CROOK, OBE, M.A. W. KAY, MA. -

W. L. HANDYSIDE, M.A., B.Sc.

PRICE $2.00.

NOW ON SALE AT THE PUBLISHERS.

The Newspaper Enterprise Ltd.

China Mail Offices.

BRITAIN MUST ECONOMISE.

Cuts in Expenditure That Would Help Trade.

#

An emphatic demand for a redue- tion In national expenditure was made by Mr. F. C. Goodenough, the chairman of Barclays Bank, in ad- dressing the annual meeting of the shareholders at the Cannon Street Hotel.

He said: "It cannot be denied that one of the principal contribu- tary causes to the shrinkage in our both "visible" and export trade,

"invisible," has been the lack of economy in our National expendi- ture.

"The cost of the social services in Great Britain has risen rapidly. Whereas in 1911 the amount was approximately £63 millions, in 1929 the total had increased to about

£300 millions.

to increased demand from consum. About ten days ago representa-ers they are looking for salvation, tives of sugar-producers, also one and in this connection a Tin Re Hakong, Nanto, Shiachiku, Talebe, Tainan, of the group which is opposed to search and Industrial Applications tors of the Manchester Chamber

Expenditure Much Too High. The directors restriction of sugar-export, explain-Committee has been doing useful of Commerce was adopted at a

"There is no doubt that our Na- the year ed their point of view regarding the work. Apart from new sources of meeting recently.

that Bro being state

tional expenditure is much too high So scheme to Government representa- consumption which

fall to be for an cannot tives. At once the Department of stimulated, the prospects

time of difficulty and that there is an urgent call for The Company offers to intending '

to study this increased demand from the usual bered as

outstanding economy. Travellers the use of its "Travelers The landon Comaly imminster and Farr's Dank. Agriculture started

are and anxiety. The industries

"By economy I not only mean a Cheynes" and Lettere of Credit and,

feature of the situation has been The Bank has Correspondents ip wil the principal question but up to now a decision tin-consuming In addition, the world-wide acrvices Commercial Contres throughout the world has not been reached. By some brighter for the coming year,

From the United States, which the accumulation of external fac-frugal and judicious expenditure of of its thoroughly equipped Travel De-

newspapers the fact that the Gov-

of tin, tors adverse to trade recovery. money on the part of the Govern- than that: I partment.

not decided fet has is the biggest consumer ernment has

mean a drastic reconsideration of been interpreted as a possible re- come encouraging reports of ex- First and foremost has been the ment, but more fusal of all co-operation, but it is pectations of a largely increased persistent and profound drop in understood in reliable quarters that motor output this spring and also the prices of all the world's staple al present expenditures, with a

this can be achieved. 3144613this decision could not be given of signs of revival in other indus- products, and alongside it the view to effecting saving wherever "A firm intention on the part of within the period demanded by the tries. Considering that there was difficulties of the monetary and

Political events in both the East the Government resolutely to take manufacture in America in 1930

the position in hand and deal with of this month.

It le expected the Government it is reasonable to hope that 1931 and the West have been such as

to impose obstacles to trade of ait adequately, would, in my opinion, will decide to-morrow or the day will see an expansion..... after and the decision will most There is also to be taken into gravity scarcely ever before en- do more than anything else at the In India the weapon present time fowards the restora- probably be in favour of co-opera-account the remarkable growth of countered.

the tin canning industry in this of commercial boycott has been tion of confidence and would help to country, which is consuming an used to further political ends, with bring about the Increasing amount of tin and results disastrous equally to deal and industry necessary to restore which is yet capable of consider-ers in India and to British export- the trading surplus which we for-

When the Slump Will End. able development. A gradual re-ers,

Sir Herbert Hambling, the de- puty chairman of the bank, said:

EW. DUGGAN,

Manager.

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Central.

HONG KONG

and Surplus ***********

Total Resources

..over H.$ 8,000,000.00

over $30,000,000.00

Every description of Backing and Exchange business transacted.

Current and Fixed Deposit Accounts in focal and for afgn currencies opened for clients.

"Savings Account and 'Safe Deposit Boxes... Branches and Agencies all over the world.

KAN TONG PO,

Chief ManageĽ.

COASTWISE producers, in fact before the 15th an almost panie curtailment of gold situation.

by

"ALGIE" BENNETT.

An interesting book of Cartoons depicting "Happenings on the Chiba Coast

PRICE $1.00.

Now on sale.at. BREWERS

tion.

In all probability the detailed measures of control of export will be ready in time for the inter- national agreement at Cannes to be closed on March 15,Singapore Free Press...

..

revival in trade

merly used to enjoy."

turn to activity in most industries To a certain extent the outlook is a reasonable assumption and, as Is better, although mainly in the many of these are consumers of somewhat negative sense that the

"We must not lose our sense of Developing within recent years tin, increased demand for the special troubles of 1980 cannot in and since the formation of the metal must needs accompany im the nature of things arise again, perspective and imagine that the In 1991, The Joint Committea of present depression is different in Toronto Convention and. Tourist proving trado. Association in 1926, Torcato's tour The total consumption during Cotton Trade Organisations, says its essentials from those previously ist and convention business has 1930 was 142,850 tons compared the report, made every effort to experienced.

"Sooner or later prices will touch now become one of the city's with 155,000 tons in 1929. It will promote progress on the lines of largest and most important new be seen that there was a con- the Cotton Report, which, in spite bottom and begin to rise, and when revenuea. For 1939, the associa siderable lag in consumption last of the ten months spent In pro- that happens recovery may be The Newspaper, Enterprise, Ltd. tion reports convention returns year which if conditions become ducting. It contained. very little speedy, I cannot say when the

will be the lak

In the city's more normal will make for a which the Committee itself bad time will come, but come it will, Ching Mall Buliding

history the year 254 such rester desaand during the prevent not recommended months previous and possibly aponer than many of

WHITEAWAY, LAIDLAW:: EXCELSIOR BOOK STORE. and at the Publishers'

Year

think