1931-03-31 — Page 2

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BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

$50.000.000

Authorised Captis! ................... Jasoed mod Fully Paid-up www.....$20,000,000 BIT Funda;-

Sterling £ 6,800,000

Bilver

........ $10,000,000

Rose Lisbility of Propelsior ........... $25,060,000

HEAD OFFICE: HONG KONG,

BOARD OF DIRECTORS-

1. Mr. G. O, S, Macklo, Cheleman

Heu. Mr. J. J. Paterson, Dajuly Chairma,

W. II. Bail, Esq. T. E. Pearce, Eng.

A. H. Compton, Esq. J. A. Plummer, Eaq.

13. Lander Lawia, Esq. T. H. R2 Bbaw. Eaq.

0. Miskin, Esq.

ANOT

BANGKOK

DATAVIA

DOMDAY

CALCUTTA

CANTON

CHEFOO

COLONDO

J. P. Wanas, Eıq.

Chlol Manager.

V. M. Orsyburn, Esq.

BRANCHES:

LONDON

LYONS,

MALACCA

HANTLA

PEIFING

PENANO

BANGOON

SAIGON

SIUAR (Johore)

MURDER

NAGABAKL

NEW YORK

DAIKEN FOOCHOW

HAIPHONO

ITASCHUNG KANKOW HARDEN BONIKEW

iLDILO

JOHORE

KONE

KOWLOON

hUAL LUMPER

SAN FILA NOIRCO

#ANOJLAI

NINGARE

SUBBAHAYA

SUNUEI PATANI THENTAIN

TOKYO

ISINOTAQ

YOKOHAMA

Current Accounts uponed in Local Currency and Fixed Deposalta ronized lot Das To of shorter paroda in Local Custoacy and Berling outer which will be quand on application. Hong Kong. 6th February, 12.

HONG KONG SAVINGS BANK.

The Business of the aburo Bank le conduct.

d by the 110 KONG AND SHANGHAI BANKING CORPORATION.

obtmitard on application.

Rules may be

Yon THE TINGKONG AND SHANGHAI

BANKING CORPORATION.

V. M. GRAYBURN,

Hong Kong, 3015 July, 1930.

Chilot Manager

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussmann, Paris.

Subscribed Capital Frs. 72,000,000,00 Paid-Up Capital...Frs. 68,400,000.00 Reserve Funds Frs.102,000,000.09 BRANCHES Bangkok Hong Kong Quinhen Battambang Hus Saigon Canthe

Mengiro Shanghai Canton Nam Đình Singapore

Neutrea Thanbes

Djibouti

Fort-Bayard Papeete Tientsin Peking

Tourate Inom Penh Vinh Pondicherry Yunnanfu BANKERS:

Haiphong Harlow Hanoi

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

IN LONDON: The National Pro- vincial & Union Bank of England, Ltd.; Comptoir National d'Escompté de 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 Deposits according to arrangements.

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

A. LECOT,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853.

HEAD OFFICE: LONDON.

Paid-up Capital

THE CHINA MAIL.

THE HO HONG BANK, LTD.

(Established 1917.)

HEAD OFFICE:-SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C.

4,000,000

Commerce and

Finance.

TUESDAY, MARCH 31, 1931.

"an ever stronger reason for not wanting to apply Mr. Keynes' doctrine to National Saving Certi- ficates. It is this: The real asset of the National Savings Movement Is that it is a habit with vast masses of people, and you cannot play fast, and loose with a habit. Your asset has just got to go on working" be-

“BOLD SPENDING" & "I have been besieged by friends cause the immense advantage to you

SAVING.

2,520,000 Sir J. Stamp Replies to

.£3,000,000

Reservo Fund

£4,000,000

Reserve Liability of Pro-

prietors

.$3,000,000

Reserve Liabilities

Authorized Capital Siraits $20,000,000 Issued Capital .... Paid-up Capital...

8,000,000 4,000,000

Agericles and Branches:

of Shareholders. Surplus

ALON STAR

KUALA LUMPUH

(Malay Bales)

KUCHING

AMRITHAD

HADRAS

MANILA

JEDAN

NEW YOUR

PERINO

BOMBAY

BANGKOK

ΣΑΤΑΝΙΑ

DALOUTTA

CANTON CAWKFORE

COLOMBO

DAIREN (Dalay

Bouth Manchuria)

PENANG HANDON BALOON

NEMARANO SERENDAN

טפפט

DELUL

HAIPHONG

HANTHIRA

HANHOW

ПАЛЕНН

(N. Manchuria)

IKING KONG

ILOILO

FOLL

KARACHI

KLANG

ROBE

KUALA RANDHAR

(Vera F.M.S.)

BILA NUHA!

SINGAPORE

BOURABAYA

TAIPING (P.M.9}

TAVOY

TIEKIMIN

10KYO

FONOKAN (Dual)

TRIKOTAD

YOKOHAMA

ZAMBOANDA

(Philippine Islanda) -

and General

Foreign Exchange Banking bustness transacted.

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

A. H. FERGUSON,

Manager. Hong Kong, 8th January, 1929.

THE NATIONAL CITY BANK OF NEW YORK.

HEAD-OFFICE: 55, Wall Street, New York.

Capital, Surplus and

Undivided Profits..U.S.$224,564,298

Branches in

ARGENTINE LONDON

BELGIUM

BRAZIL

CHILE

MEXICO

PANAMA

PERU

PHILIPPINE

ISLANDS

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

Every description of Banking and Exchange business transacted.

TAN ENG HOOL,

Manager.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

BANKERS.

Mr. Keynes.

CURE FOR UNEMPLOYMENT?

to

Mr. J. M. Keynes, in a recent broadcast talk on the problem of un- employment, urged the need for bold policy of spending as n cure. Probably twelve million industrial workers stood idle in the three chief industrial countries of the world, Great Britain, Germany and the United Stutes, he said. In the en forced idleness of millions, enough potential wealth was running waste to work wonders.

Many Guilders 6000,00million pounds' worth of goods could

(28,880,170) jbe produced each day by the work

ers and the plants which stood idle. We ought to sit down to mend mat- BRANCHES Bandiermasla, Bandeweg, Bombay, 18 in the mood of grave deter. Calculls, Cheriban, Djembe, Plok mination and the spirit of action at Jakarta Tha Ungos", Jaddas, Kobe, all costs which we should have in Kota-Radja, Minkasser, Medan, Padana

Palembang, Pakalongan, Ponaca war.

Yet a vast inertia seemed Polisus, Hango, Boliazdam Нагови Bamura,

to weigh us down. (Sumatra), Blogapos Sourata, Boormach (Solo), Tegal, Tjilžup and Waiterreden.

Estebehed 1824,

Hong Kong Oos-11, Queen's Boad Ospiral

Authorized Caplial Guilders 182,000,000.

Paid-up Capital

Lasarte Fund. Ogildure) 40,016,005

(11,800,000.

(23,334,388)

Band Offer:—ÂMBTZĒDAME Extern Head Qũ:-DATAVIA,

bot

• Tarea offers kave wete dopoult boru to lat. London Bankers -National Prádloria) Hank Lad Corempončnois all over the world Hanking bulma of ovary decripting tearsoted.

A. STOKKINK.

Noeg Kong, 18th August, 10G,

Many well-wishers of their coun- try believed that the most useful thing which they and their neigh

hours could do to

mend the situa-

who have waved under my nose a in normal times completely over- statement mada by Mr. Koynes that balances any slight disadvantages in every time we savo 58. we put n'exceptional times."

workman out of work for a day. If Ar Joslah quoted from a New I were having another broadcast Year message broadcast by him to discussion with Mr. Keynes on un- the American people, In which he employment, I should say to him:said, "It is perhaps at the moment 'Keynes, you are the chairman of a more Important with us that peo- great and deservedly successful in-ple should spend money freely ou surance company. Insurance is objects of consumption than that With one of the most famous ways of, they should savo very hard.

I deliberately set aside you, that is America, I think saving. out of my Intome a premium every revival of foreign investment takes "And then," month or every year which, under a primary place." an endowment polley, comes to me the speaker said, "I wont on to show them why I distinguished between later on in a nice lump sum.

"Does this mean, Keynes, that our two positions. So while I might I have to ignore the blandishments agree with Mr. Keynes and Mr. of the circulars of your insurance McKenna that the ship might be society, and its tempting literature, lightened for the moment, I should and ought I to come along and sug-start with the loose cargo, and not cease my pre- with the very fixtures, rudder and gest that I should

boller and engines." miums and you should give me paid-up policy and wind up your The ordinary economic doctrine I really fancy that then, 'about saving, Le., not merely hoard- society?"

he likes beating in ing-putting money into a stocking much as argument, he would give me one or is that it is only another way of two qualifications of his striking spending, that is, spending upon a different set of objects. The money "But suppose

that he did not, goes into the bank or the Govern- and he convinced me of the evils of ment, and find Its way into the great life insurance, and its effect on put-{financial machino, and ultimately out of work, Then I gets lent out to people who spend it. ting men

Savings that "Get Stuck." should have to look myself straight

statement.

me

In the face as president of the But there are certain times when' tion was to save more than usual. Recond largest building society in this does not work out quite so and Mr. Keynes has If they were members of town or the country, and nak whether it was simply, Acting ManagNS.

county councils they believed that their right course at such a time as this was to oppose expenditure on new amenities or new public works. In certain circumstances this would be quite right.

in present eircumstances,

it Was quite wrong.

right that people should go on sav- brilliantly shown how important! Ing money for the purpose of bull-those times are. The savings go ding houses and increasing the into the money machine all right,

CHINA

COLOMBIA

CUBA

PORTO RICO

THE BANK OF CHINA.

中 行銀國 Reorganised October 26, 1928, under special charter of The National Gov.

DOMINICAN

STRAITS

REPUBLIC

INDIA

BANK.

ITALY JAPAN

SETTLEMENTS URUGUAY

VENEZUELA

Commercial and Travellers' Lettors

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

Wo are also able to offer our Cus tomers the services of the Branches of the International Banking Corpora- tion in San Francisco and Spain and also of The National City Bank of New York (France), S.A., in Paris and Nico.

F. McD. COURTNEY,

Manager. Hong Kong, 20th February, 1981.

THE

AMERICAN EXPRESS COMPANY, INC.

Head Office: 65, Broadway, New York.

Capital

Manager

Surplus

Reserves

Hong Kong, 1st May, 1829.

THE YOKOHAMA SPECIE BANK,

LIMITED.

.U.S.$0,000,000 U.S.$1,572,454 U.S.$1,008,209

BRANCHES:-

Ambordaza Alwery

Gevoe

Nice

Glasgow

Naples

Alb

Hatan

Berlin

Hartla

Established 1880. Capital (fully paid-up) Yen 100,000,000 Ecservo Fund

........Yen 116,000,000

Bombay

Bremen

Ilamburt Нати Interlaken Forusdien Lido

Frang

Paww Paris

Faking Palermo

Bosterdams

Reyndala

Looden

Bus Aires

Liverpool

Cairo

Locatie

Calcutta

Lugaco

Cana

1.sar

Boli

Monte Carlo

.., Yakobus

Zurich

Head Office:-YOKOHAMA Branches and Agencles at:

Newchwang

Skake

Alexandria

Batavia

Bombay

Calcutta

Canton

Changchun

Dairen (Dalny)

Kamburg

Hankow

Karbin

Hong Kong

Nagoya

New York

Fongtien (Mukden) Saigon

Εξοποδηλα

Kal Yoon

Karachi

Kabe

London

Los Angeles

Lyons

Manilla

Nagasaki

Janeiro

Palping

Rangoon

Rio da

(Temporarily closed)

Beattle

San Francisco

Semarang Shanghai Shimonosek Singapore Boerabaya Bydney Tientsin

Tokyo

Tsingtan

Colombo

Cosentinople

Copenhagen Pabuzyk Moros

Gar

Manila

Munich

Mantraux Bilisa

Bome Stamboul

Ebanghai

Gouthampton

pors

£10

St. Morita Tientsin

Vianna

Fenics

Branches of American Express

ernment as an

INTERNATIONAL EXCHANGE

And

Some of

capital of the country, and whether but if there are not people with con- they were not thereby increasing fidence to use them in new enter- unemployment.

prise, they don't all get out quickly! But

enough to employ the people. Instead Building Societies. unluckily,

"Supposing that I have a friend of you employing them. For the object of saving was to release labour for who desires to build a house and to the savings get stuck. But the new employment on producing capital employ cortain unemployed brick-doctrine about savings causing un- But if there was a large layers, unemployed fron and steel employment applies only to the sur goods.

plus that is not effectively and im- unemployed surplus already avail workers, unemployed coment

and it does not able, then the effect of saving was brickmakers, and all the other oc-mediately used, Subscribed Capital...$25,000,000.00 merely to add to this surplus. cupations affected when a house is apply to that portion of the savings

Expansion and Activity,

I explain that I would have which is represented by immediate Paid-Up Capital Reserve Funds

What we needed now was not to lent him the money to employ all investments.

In conclusion, Sir Josiah said: button up our waistcoats tight, but these people, but that would have to be in a mood of expansion, of been saving it, and Mr. Keynes says "Go on with your Savings Certi- activity. Now was the time for I must not save. I must spend it ficates, and when you have municipalities to be busy and active on boots and pianos and new hats 2,000,000,000 I will tell you whe

thar I have changed my mind." with all kinds of sensible improve- for my wife, because by so doing I boot- Nationally, too, he would create employment among

millia- like to see schemes of greatness and makers, pianomakers and

.$24,710,200.00 ..$8,823,503,82

HEAD OFFICE:' SHANGHAL

HONG KONG BRANCH:

4, Queen's Road Central,

ments.

built.

say at once that I was merely.om- ploying one set of people instead of another.

Owing to our numerous branches in China and large connections in the magnificence desiged, and carried crs. My friend would be able to important commercial centres of the world, we are able to extend to our clients special facilities for domestic and foreign banking and exchanges,

We also handle the issue of Bonds and other Public Funds of the Chia ese Government both at home and abroad.

SHOU J. CHEN,

Hong Kong, 5th March, 1030.

Manager,

through. For exime, why not pull down the whole of South Lon- don from Westminster to Green wich and make a good job of it "I rather imagine that the buil housing a much greater population ding society movement Can be than at present in far better bull. absolved altogether from the charge dings with all the conveniences of af creating unemployment. modern life?

"Now what about National Sav-

INDIAN TRADE.

made

EFFECT OF THE BOYCOTT IN

1930.

The figures of India's foreign

We were suffering from the growing Certificates? None of us can trade in 1930 show clearly the re- ing paina of youth, not from thesay with any confidence where the strictive effects, not only of the rheumatics of old age. We were money saved finally gets to-it goes world-wide depression and the fall

THE BANK OF CANTON, LTD. failing to make full use of our opinto the Exchequer, and from in price levels, but also of the civil

Established 1912.

Read Office Hong Kong.

Authorised Capital (IL.E. Curvancy) (11,000,000 Paid-Up Capital

1,065,500 1,100,000

Batlow,

Caston, Changhai, Hankow, Bangkok, New York and Ban Franc

CORRESPONDENTS

LONDON DANEGES :-----

The Lord's Bank, Imited.

ta ali priacipal cities of the World,

Zoro xoang and banking business of avary description tennanotad,

Sale Deposit Boxes (various slass) si a poszły ranial zf from 10 to 145,

LOOK POONG SHAN,

Chief Manager.

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

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

Central Bank in Formoen,

Company in Principal cities of Unit Bank Notared Aremge amount Yen. '£5,000,000

ed States of America and Canada.

All classes of Commercial Banking Transactions undertaken.

Personal investment *ccounts bandled

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.

Afiliated with

Interest allowed or Current As- THE CHASE NATIONAL BANK

conati.

Deposits received for fixed parloda

at rates to be obtained on applica-

tion.

EL MORL

Hanager,

Hong Kong, March 24, 1981.

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

C. H. HENSON,

General Manager.

THE BANK OF EAST ASIA, LTD.

Established 1918,

HEAD OFFICE:

10, Des Voeux Road, Central,

Capital and Surplus

Total ResourESS

HONG KONG

over H.$ 8,000,000.00 over H.$50,000,000.00.

Every description of Banking and Exchange business

acted.

Current and Fixed Deposit Accounts In Joval and fár

eign currencies opened for: clientsyfi

Savings Account and Safe Deposit Boxes Branches and Agencies well over the world.

KAN TONG

BRANCHES AND AGENCIES: JAFAN Toro, Yokohama, Kobe, Osaka.

Ka Karenin, Esslang, PORN084 tran

Malong, Hanta, ghlachika, Talchu, Tainan, Takis. I

"Tameni," Yoan, Heita, Talia. CHINA 1-8kanghal, Elatków, Amay, Focokaw,

Bwalow, Canton VIDERS-at

Kong, Blugapore, Boarabaya, Banang, Batavia, Bombay, Calute, Loning, Kew York, Duran.

LONDON BANKERS ·

The London County Westminster and Pant's Dank.

The Bank has Correspondents in all the principal

K. HLOUNA.

commaral Centres throughout the world

Manager.

HONG KONG BRAKOR,

13, Des Vana Roud Cantril Hong Hong 19th January, 1999,

AKGAD EISAJTOVERZICIJA [321 DIA PARA EL TØ

COASTWISE

by

"ALGIE" BENNETT,

An interesting book. of Cartoons depicting "Happenings" on the China Coast

PRICE $1.00.

-Now on sule ̧df

BREWERS

WHITEAWAT, LAIDLAW EKCELSIOR: BOOK STOKR.

energy.

portunities, failing to find an outlet thence into the great money madisobedience movement, with its for the great increase in our pro-chine. But, subject to certain boycott of British goods. Imports ductive powers and our productive limitations, it is destined to get of private merchandise were valued Therefore, we must not spent somewhere, and to create emat Rs. 18,178 lakhs, compared with draw in our horns; we must pushployment. At the moment, how-Rs. 24,861 lakhs in 1929 and an al- them out. Activity and boldness ever, it is a very important function most equal figure in 1928, Exports, and enterprise, both individually in the National Budget. The more including re-exports, amounted to and nationally, must be the cure.

money is lent voluntarily to the Rs. 25,700 lakhs, compared with Sir J. Stamp's Reply. Government, the leas will the Gov-Re. 32,889 lakhs in 1920 and Rs. Mr. Keynes' speech and that madeernment have to go out and borrow, 88,803 lakhs in the previous year. by Mr. Reginlad McKenna at the and tend to increase the rate of Imports from the United Kingdom annual meeting of the Midland interest. Also, if the deficit is were Ra. 7,435 lakhs, compared Bank, were referred

A

Sir Josiah Stamp in acquent broadcast address "A Thousand

Million

to by big, the more prospect there is off with Rs. 10,551 lakhs in the previ

sub greater taxation in future. Nor is ous year and Rs. 11,459 lakhs in on very heavy taxation going to be 1928, Exports to this country fell Sav-good for business confidence itself, to Rs. 5,592 lakhs, against Rs. 6,831) ings Certificates.” Sir Josiah and it is just business confidence lakhs and Rs. 7,209 lakh in the. Stamp is president of the Abbey, which is wanted to increase employ-previous two years.

Road Building Society, chairman of the London, Midland and Scottish Railway Co., and a director of the Bank of England.

"During the past week," he said

Sixteen ladies

In a live one's chest. Yo-ho-ho,

And a battle

Of rum i

and of the Publishers

The Newspaper Enter

Ltd

Gold

ment, to undertake new enterprise

There can be no doubt that when and to take advantage of the moneya every allowance is made for gen that are being saved.

Saving a Habit,

NANCY WELFORD

oral economic factors the boycott movement has had a serious effect "I have," Sir Josiah continued, upon our trade with India, especial. ly in cotton piece-goods, In the eight months from April to Novem. ber last our shipments of various descriptions fell in comparison with the same period of 1929, as follows: Twist and yarn from roughly 144 million pounds to under seven] million; grey

(unbleached) plesa, goods from 8194 million yards to little more than 129 million yards; white (bleached from 290 million

yards to 172 million yards; coloured printed or dyed from 192 million yards to 122 million yards; ferts; from 84 million yards to under two million yards,

-

It may be added that the not im- ports of gold during 1930 were Rs. 1,680 lakhs of silver Rs. 1,225 lakhs, and of currency notes Rs. 16 lakhs. The total vialble balance of trade in favour of India. was Rs.

4,501 lakhs, compared with R 5,997 lakhs in the previous year, The balance of remittances of funds was minus Rs. 550 lakhs, compared with minus Ra. 3,802 lakhs in the previous year.

ARGENTINE WHEAT.

Determined Search for New

Markets.

CLAREMONT

PRIVATE HOTEL Austin Road, Kowloon. (Facing the Kowloon Cricket Club. Four minutes from forry by bus.)

Suites of rooms (single and double), hot and cold water system, all modern sanitation, private "bathrooms attached. EXCLUSIVE TABLE entirely under European management. Hotel has a splendid aspect fu one of the finest locations in Kowloon, away from noise, yet easily accessible.

Terms very moderate. Roser- vations by letter or cable.

CLAREMONT

Tels.: 57889 & 57388 (Private).: Tolographie Add.: "Farm" HE, Dur motto is "SERVICE."

HOT WEATHER DEMANDS LIGHT CLOTHING.

Our Cool and Seasonal Attire is beyond dispate.

We offer beautiful designs In Silk for Summer frocks and the latest shades in printed georgette and crepe-de-chine of the best quality can be purchased at the

KASHMIR

SILK STORE

36A, Queen's Road, C. Right Opposite Queen's Theatré.

ALEXANDER'S INSTITUT DE

BEAUTE

For the best Permanent Finger and Marcel Waves, Hair Cutting and Manicure for Ladies and Gentlemen. Pedder Bldg. 1st floor. Room č. Tel. 25169, Opposito entrance I.K. Hotel,

PHOTO-SUPPLIES

Kodaks and Cameras. Films, Plates and Papers, etc. Developing, Printing and Enlarging.

ZIESS and BUSCH FIELD GLASSES

Price Moderate.

A Trial Orr is Solicited.

A. SEK & CO.

Tel. No. 28459. 26A, Des Voeux Road, C. Hong Kong.

OUR

LADIES' TAILORING

DEPARTMENT

undertakes to execute orders

FOR MAKING DRESSES & GOWNS on latest styles, with-

in 16 hours..

LOVELY SILK STORE

No. 2, Stanley Street. Tel. 22100. (Adjoining D'Águilar Street.)

Ing made by the Government, which is offering European millers special facilities for buying wheatg

The Foreign Minister the el carised the Argentine representa tlyes in Great Britain, France, Italy, Germany, Holland, and

The Buenos Aires correspondent, Belgium; instructing them

of the Associated Press states that negotiate directly with millers who

a determined eftempt to find a new may be induced to "buy -Argentina" market for Argentine produce is Ba-, wheat, s