1931-04-22 — Page 2

2

$10,000,000

BANK S

HONG KONG AND SHANGHAI BANKING CORPORATION,

Authorised Capital ...............................

$60,000,000

Issued and Pully Puld-up $20,000,000 Barve Funde

Sterling..........£1.500.000

fill...............

Reserve Liability of Proprietore $30,000,00

HEAD OFFICE: HONG KONG,

BOARD OF DIRECTORS—

H. Mr. C. d. H. Machi. Chairman.

Isa. Mr. J. J. Patrone, Deputy Chairman,

W. Dail, E. T E. Fo. E2.

J,

A. it. Compla, Esq. A. Hurt F.

5. Lundur Eawls, Kay. T. T. 1. Shaw, Eng.

3. Mikio, Eng.

1. P. Warren, Eva,

Chind Manager.

7. M. flrayburn, Esq.

BRANCHES:-

1.GXBON

LYONS

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853. HEAD OFFICE: LONDON.

Paid-up Capital

HANIXOK BATAVIA

BOMBAY CALOUTTA

CANTON CAWNPORE

ORDU

COLOMBO

DAIREN (Daley

Mouth Manchuria)

DELI

HAIPHONG

THE HO HONG BANK, LTD.

Established 1917)

་

AMOY

MALACCA

MANILA

NCAIL (Johor)

BANGKOK BATAVIA BOMBAY

CALCUTTA

CANTON

CHEFO

COLUMBO

MUKDEN

NAGABAKI

NEW YORK

PRIMINO

FENANO

BANON

NARODN

SHASURAT

DAINES

FOOCHOW

HAIPHONG

HASHUR

HANKOW

SAN PRANCISCO

BEXTLIN

BONOKEW

SLUBLA

I

JUNDRE

SINGEL PATANI

TESTSIS

KOHE

KOWLOON

HUALA LUMPUR

SEMI&TORE

SOL-HABAYA

2014

THENIAU

YOKOHAMA

Currant Around in Larral Currency and fired Denity received for one your of shorter is a cat Currency and Statio on te which will quite die willeation. Elog Kong. February, 11.

HONG KONG SAVINGS BANK.

The bif the axera bank is condunt. by BONG KONG AND SUANGHAI Habra may la BASKING CORPORATION,

outsized application.

FOR THE OSOROSO AND SHANDIAL BANKING CORPORATRÈN,

Y. M. GRAYBURN,

Blog Kong. In July, uno,

Chiel Manager.

BANQUE DE L'INDO-CHINE.

BEAD OFFICE:

96, Boulevard Haussmann, Paris.

Subscribed Capital Frs. 72,000,900.00 Pald-Up Capital...Prs. G8,400,000.00 Reserve Funds ...

.Fra,102,000,000.00

BRANCHES:

Bangkok Hong Kong Quinhon

Battambang flue

Cant.he

Cantun

Djibouti

Mongtze

Năm Đinh

Neumen

Fort-Bayard Papeete

Haiphong

Hankow

Hanoi

Peking

Saigon Shanghai Singapore Thanhen Tientsin Tourane

Phom-Penh Vinh Pondicherry Yuananfu BANKERS:

THE

CHINA MAIL.

Commerce and Finance

EMPIRE MINERALS. (15.8); sulphur, 2,400,000 tons

Reservo Fund

,£3,000,000 £4,000,000

Resorve Liability of Pro-

prietors

Reservo Liabilities

.£3,000,000

Agencies and Branches;

of Shareholders Surplus

HEAD OFFICE:-SINGAPORE. Hong Kong Branch: 19, Queen's Id. C. Authorised Capital Straits $20,000,000 8,000,000 Issued Capital *** Paid-up Capital

4,000,000

4,000,000 2,820,000

m

13

SURVEY BY THE IMPERIAL INSTITUTE.

ALON STAR

KUALA LUMPUR

(Malay Himina)

KUCHINO

AMNITHAB

MADRAS

MANILA

MEDAY

NEW YORK

PEKING

PENAND

HANDURG

HANKOW

HARBIN

HANDDON

MAIGION

SEMARANG

SRRENBAN

SHANGHAI

SINGAPORE

BOURABAYA

TAIPING (P.M.8.3

TAVOY

TONDRAH (bukai)

ХОКОНАМА

ZAMBOANGA

(Pikppine Jolanda)

(Perak P.M.) Foreign

Exchange

and

Generat

IN. Manebula)

HONG KONG

11.0110

TROS

KARACHI

KLANG

КОРЕ

XUALA RANOHAR

TIENTSIN

TOKYO

TSINGTAO

Banking bustness transacted.

Current Accounts opened and Fix el Deposits received for 1 year ori

which will shorter periods at rates

be quoted on application,

A. II. 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.$224,554,203

Branches in:- ARGENTINE LONDON

BELGIUM

BRAZIL

CHILE

CHINA

LIPPINE ISLANDS

MEXICO

PANAMA

PERU

PORTO RICO

DOMINICAN

STRAITS

REPUBLIC

COLOMBIA

CUBA

INDIA

ITALY

JAPAN

SETTLEMENTS

URUGUAY

VENEZUELA

Commercial and Travellers' Letters

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

Напк.

We 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

and Nice.

TAN ENG HOOI,

Manager.

(7.3),

4

WEDNESDAY, APRIL 22, 1931.

CANADA'S OVERSEAS and Tobago. Of course, Great

BUSINESS.

Britain continues to buy mora Canadian goods than she sells to Canada. The disturbing factor, and one, offsetting her favourable

Preponderance of U.S. Empire trade balance, is the con-

Imports.

The depression in world trade has affected every country, and Canada's latest trade returns, for

tinued preponderance States imports.

of United

In its recent "Review of Bual- ness Conditions," the Canadian Bank of Commerco states that dur-

the calendar year 1930, reflect the ing the past year the United States dollar commanded a premium in universal downward trend, a re-

Canada at the beginning of the duction of $598,281,000 in total Importe and exports being indicat- year, but moved at par under the York by the Dominion Government municipalities, and by Canadian anch

ments the Financial Times. Imports Amounted in value to $1,008,479,000 and exports

remittances of trade

account.

from

Empire's Favourable Position. Although no particular part of the Empire can claim to be in position of relative independence A valuable survey of the mineral in the matter of mineral supplies, ed, as compared with 1929, com- influence of heavy financing in New Branches, Agencies and Correspon- donts in the principal cities of the position of the British Empire, to- it is worthy of note that the sup

gether with a most interesting complies available in the different parts world.

Every description of Banking andparison of output, as compared with of the Empire are so complementary Exchange business transacted. that of the world, has been prepared to one another that the Empire as

by the Mineral Resources Depart a whole is distinctly well placed in $905,870,000, against the previous abroad to New York on Canadian nient of the Imperial Institute, and this respect, and compares favour-year's figure of $1,298,392,000 and

$1,208,338,000 respectively. published by 11.M. Stationery ably as regards independence with Office. The publication is valu- other parts of the world. In this the Information connection, it is interesting to note able, not only for it gives about the general position that minerala which the rest of the of the Empire's mineral resources į world imports largely from the Em- china clay, are asbestos, as at present developed, but for the pire detailed, particulars in relation to chromite. diamonds, gold, mica, the mineral outputs and descrip- nickel and tin; while minerals for the supply of which the Empire de- pends almost entirely on foreign countries

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

INETHERLANDS TRADING BOCIETY)

BANKERS

Established 1824.

Hong Kong : -11, Queen's Road Centen).

Auto Capital

Gulidera 180,000,000- (13,500,000) Paid-up Capital Gulidere 6,000,0

(£59.179) Beret Bud ............ Quilders 40,023,000 (23,884,199) Aload Uten: AMSTERDAM Eastern Bond Ores--BATAVIA. -- --- BRANCHEN:- Baudeln. Bandeng". Bom

Calmitta, Cherthon, ember. Bo jakaria, The Hague, Jeddah, Babe, Kota Italja, Makassar, Medan, Padang

Palembang. Pekalongas. P Pontianak anon, Botterdam”. Hams

Shanghai.

Sumatre), Somakarin Biolo). Weltevredan".

•Tum ofa kavo safe deposit bases to hel London Bankers:—Natinos! Provincial Bank 153, Crespondents all over the world Banking business of every description transected.

A. STORKINK,

Acting 55anager.

dougou, 19th August, 1880.

THE BANK OF CHINA. 行 鋇鯻巾

Reorganised October 26, 1928, under special charter of The National Gov- crnment as na

INTERNATIONAL EXCHANGE

BANK.

Subscribed Capital Paid-Up Capital Reserve Funds

HEAD OFFICE. SHANGHAI.

tion

of mining activities in the United Kingdom and more thun thirty countries of the Empire.

Importance of Coal, Petroleum

are

other

a

were

Of the total imports into Canada last year, $162,614,000 came from Great Britain and $653,707,000 from the United States. The cor- responding figures in 1929 $197,777,000 and $893,585,000. In exports the volume of goods sent to Great Britain were valued at $236,- 527,000, compared with $291,881,

1920.

Canadian mer-

some

Course of Exchange. After luctuating about par for States months the United dollar went in July to A discount, which made pro- fitable the first gold ship. ments of the year from New York to Canada, and during the succeed-

in gold crossed the border. ing four months about $36,500,000 United States dollar continued to

The

hover at or near the gold shipment point until the end of November, reverting to a small premium by the end of the year and causing a

York. Sterling exchanga In value of Canadian products export- turn movement of gold to New ed during the ten months (to Canada fell in accordance with the January 31 last) of the current} fiscal year, as compared with the same period a year ago, is revealed in figures issued through the De- partment or National Revenue. The total value of exports of Canad- ian commodities during the ten months was $700,796,788, compar- ed with $963,973,168.

Wheat was

Less Empire Purchases. Wheat exports show a marked decline in value but an increase in quantity when the two periods are compared.

exported during the ten months to the extent valued at of 194,050,867 bushels,

During the corres- $163,185,862. ponding period a year ago the quantity exported was 158,681,071 bushels, valued at $194,490,652.

which entered Total importe

Dominion dur- consumption in the

for

rise of the Canadian dollar in terms of United States funds.

The review also states that the domestic wholesale decline in the and retail trade during 1930 ranged from 10 to 60 per cent, according to locality and line of goods, the average being .10 to 15 per cent. Wholesale prices averaged 26 per cent. and retail prices G per cent. below 1929.

Tourist traffic, which is now an important factor in Canada's trade return as ven heavler in 1929 in

Columbia, Quebe British Manitoba and New Brunswick, but individual expenditures were less. Elsewhere both traffle and trade were less.

is estimated that

It

tourists, mainly American, brought Canada about $250,000,000, as com-

In 000 are antimony, blarmuth, horates, petroleum, potash, pyrites,chandise sold to the United States $412,126,000, against and Iron Ore.

quicksilver, sulphur and radium. amounted to $545,329,000. Dealing with the relative import- The Empire however, has great re-

A decrease of $263,176,389 in the unce of the different minerals or sources of certain minerals which mineral groups

throughout the are at present supplied to it by world, the survey points out that foreign countries, such as bauxite, the annual value of the world's coal barium minerals, copper, felapar, output is about equal to that of all iron ore, magnesite, molybdenum, Bin Tiltefop and

Rear other minerals put together, petro-phosphater, platinum, talc, tung- team and iron ore coming next in sten, and vanadium; and minerals order of importance. These three of which the Empire has ample sup- minerals together account for about plies and an exportable surplus are cadmium, cobalt, coal, 80 per cent. of the annual value of arsenic. the world's output of minerals, and fluorspar, fuller's earth, graphite, the addition of raw materials of the gypsum, lend, manganese, monazite, precious and base metals, together sall, silver, strontium and zinc. Future Outlook Promising. with those of the ordinary iron-1

Coal and iron ore are the two alloy metals, will probably bring the

of industrini proportion to not less than about 95 chief mineral needs per cent. of the total, the remainder civilisations, and in these two very being accounted for chiefly by important items the Empire has diamonds, sulphur, salt, potash, enormous reserves, the enterprising a few utilization of which should secure phosphates, asbestos and

Building stones, for it for some centuries to come a other minerals.

in etc..

not included this high place in the world's industries; are while, from a comparative point of estimate, as statistical data

During the period of view. the future outlook as regards lacking. fifteen years between 1913 and 1928 supplies of copper and the

The total value of building con- $25,000,008.00 the mineral production of the world base metals, as well as the iron- ing the ten months ended January Pared with $299,000,000 in 1929.

31 Inst were of the value of $780,- tracte awarded in Canada during $24,710,200.00 has, on the whole, increased large- alloy metals, must be regarded as

283,269, a falling off of $274,042, 1936 was $456,999,000, a recession 626. .$ 3,820,503.92 ly, in spite of the comparative promising for the Empire as

Of these, free goods repre- of 20 per cent, from the previous

datiable stagnation shown by the outputs of whole.

$289.611,909 and

year, which was the highest on re- Other data given in the survey sented coal and iron ore, the latter actual-

cord, but only one of 3 per cent. be- ly showing decrease, more shows that the value of the mineral gooda $490,671,360.

Canada's Empire trade, both in low 1928, the second higheat. The the Empire output of the United Kingdom for especially as regards

exporta, 1928 amounted to 45.6 per cent. of Imports and

naturally greatest declines were registered in output.

in the general decline residential and industrial building, World's Petroleum Output Affects the total for the Empire, and that suffered

the values of the outputs for

the During the calendar year 1930 the in both cases the lowest for several Empire's Position..

Dominions and India accounted for Dominion's total purchase of Em- years. The production of petroleum has 45.4 per cent. of the Empire total. pire goods fell from $257,098,000 in A substantial, increase in issues increased to a remarkable extent, an The percentage share of British 1929 to $227,825,000, while her ex-

of Dominion, and Provincial Gov- countries erament bonds last year offset the We also handle the issue of Bends being more than three times the Africa, Nigeria, the Gold Coast. dwindled from $395,388,000 in 1929 decline in Railway issues and the and other Public Funds of the Chin-output of 1913. This is by far the Trinidad and British North Borneo to $316,375,000.

insignificant change in the totals of cao Government both at home and most important increase in the together was 7.8, and the values for

Nevertheless, many encouraging Municipal and Industrial issues, world's mineral output during the the rest of the Empire amounted to factors have entered into Canada's with the result that the grand total SHOU J. CHEN,

Gold shows a substantial only 1,2 per cent. of the total, the Empire trade altuation. In 1980 for the year was 17 per cent, high- Manager. period.

world's total, but chief contributors in this

Canadian bond decrease on the Hong Kong, 6th March, 1931.

being the Dominion enjoyed a favourable the Empire total remains about the Northern Rhodesla, British Gulana, balance of trade with Bermuda, sales totalled in value to $763,022,- same. The base metals and silver Nauru and Ocean Islands (phos- Australia, British Honduras, 807, compared with $653,388,556 in show, on the whole, a substantial in-phate), Ceylon Cyprus and the British South Africa, Bri- 1929. Of this amount $392,206,- crease, especially copper, but, ex- Irish Free State, which together ac- tish West Indies. Hong Kong, 307 was placed in Canada, $364,- cept for lead and zine the Empire counted for

United States and 1 per cent.-Chamber Irish

Nowfound 521,500 in the percentage of the total has fallen. of Commerce Journal.

Trinidad $6,295,000 in Great Britain. The world totals for manganese and nickel have both increased largely. and chrome ore is a nutable in- stance of a large increase, showing a nearly threefold advance for the world as a whole, with a large in- crease in the Empire percentage. Asbestos shows a large increase with an improved Empire percent- age, and bauxite production has) LOOK POONG SHAN, gone up nearly fourfold, the Empire

Chief Manager. being

longer A negligible contributor to the output as it was in 1913,

HONG KONG BRANCH: 4, Queen's Rond Central.

Owing to our numerous branches in China and large connections in the im- of tho portant commercial centros world, we are able to extend to our and foreign banking and exchanges.

£

Paris et des Pays-Bas; New York (Franco), 3.A., in Paris clients special facilities for domestic output of 180,000,000 tuns in 1928 Malaya, Southern Rhodesia, Westports to other Empire

IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnuis; Banque de Credit Industriel et Commercial; So-

Generale.

cies LONDON: The National Provin

cial & Union Bank of England, Lid.; Comptoir National d'Escompte de Paris; Credit Lyonnais.

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

of

F. McD. COURTNEY,

Hong Kong, 20th February, 1931,

THE

Manager.

Current Ac AMERICAN EXPRESS COMPANY,

Interest allowed on counts and Fixed Deposits according

to arrangements.

Every description of Banking and Exchange Business transnated.

Safe Deposit Boxes to let

A. LECOT,

Hong Kong, 1st May, 1929.

INC.

Head Office: 65, Broadway, New York.

Capital

Manager.

Surplus Reserves

THE YOKOHAMA SPECIE BANK,

LIMITED.

Established 1880.

.U.S.$8,000.000 .U.S.$1,672,454 U.S.$1,908,209

BRANCHES:-

Ammakerdan Antwerp

Athade Backe

Barlin

Barrie

Braman

Brassi

Gazc

Jangow flaviza Hamburg Havre Interlaken Jerusalem Lido London

Nias Naples

Picsoun Perls

keling

Tetang

Pelerina

Botlarda

Home

Bu Are

Cum

Calcutta

Liverpool Luceros Lugano

Bamboul

ť

Carame

Colombo

Capital (fully paid-up) Yen 100,000,000 Reserve Fund.....Yon 115,000,000

Head Office:YOKOHAMA,

Branches and Agencies at:

Manila

Alexandria

Batavia

Berlin

Bombay

Calcutta

Canton

Changchun

Dairen (Dalny)

Nagasaki

Nagoya

Newchwang

New York

Osaka Peiping

Rangoon

Fengtien (Mukden) Rio de Janeiro

Hamburg

Hankow

Harbin Hong Kong

Honolulu

και Τυση

Kal

London

San Francisco Seattle

S

Shimoneseki Singapore Soerabaya Sydney Tientsin

Los Angeles Tokyo Lyons

Tsingtau Interest allowed on Current Ac-

counts.

Deposits recolved for fixed periods at rates to be obtained an application.

II. MORI,

Manager,

Hong Kong, 11th April, 1981.

tambay

LALKO Macallion Oportantisopla Monte Cactu

Сорковарка Edinburgh

Porno

GKEITE

Manila

Munich

Montreal Kiian

Shaa shal Southampton Воварот St. Mori Thotain

VAGA

Venice

Yckobama Zurich

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

All classes of Commercial Banking Transactions undertaken.

Personal investment handled.

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.

Affiliated with

THE CHASE NATIONAL BANK

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

C. H. BENSON,

General Manager.

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:"

10, Des Voeux Road, Central, TONG KONG

Capital and Burplus

over £§ 8,000,000.00 over H.$20,000,000.00 Every description of Banking and Exchange business

Total Resources

· transacted.

Current and Fixed Deposit Accounts in local and for elga currencies opened for clients.

5 ?Ravings Account: and Bafs' Deposit Bäxes,

Branches and Agencies all over the world.

KAN TONG PO

M7) - Chier Manager,

abroad.

4

THE BANK OF CANTON, LTD. Established 1912.

Head Office: Hong Kong.

Authorised Capital (ILK. Carvency) #11,000,000 Paid-ip Capisal

1,555,000 Best Fund

1,100,000 BRANCHES- Canson, doghal, Bantow, Swalow, Bangkok, New York and San Fra00.

CURRYSPONDENTS

LONDON BANKERB 1--

The Lloyd's Bank, Limited.

Is si principal titlan of the World.

Poesign azchange and banking buainme of overy description transacted.

Bale Depali Bose (varias sismu) at a yearly renal of fruta 35 to 440.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO.)

no

Diamonds show an increase, bat the Empire percentage has fallen largely, foreign countries being re-

HEAD OFFICE: Taipeh, Formosa.sponsible for a quarter of the total

Incorporated by Special Imperial

Charter, 1899.

Central Bank

Formos

output in 1928. Graphite has in- creased for the world as a whole, but the Empire output is about | Bank-Notes sound Average amount on Xan, 15,000,000 halved. Potash and sulphur show

BRANCHES AND AGENCIES:

remarkable increases in the world JAPAN-Tokyo, Yokohama, Kobe, Oaks. FORMOSA 1

Karl Karenko Kle, total, but the Empire production of Hakong, Nanto, Gelnchika, Talcks, Tainen, these minerals, as also that of Takao, Tammul, Toua.. alio, Telto CHINA: Changhai, Rankow, Amery, Fooshow, phosphates and pyrites, continues to Aur Blue Borsbars, be comparatively unimportant. The OTHERS-Kong

Semarang Batavia,

Bombay. Calmette, mineral production of 1928, -as com- London, New York, Dalna.

LONDON DANKRES;

pared with that of 1913, shows that Landon Conaty Waliminer and Parr's Back the Empire has fallen back in com- The Bank has Carspondense in all the principal parison with the world as a whole.

Commercial Osaleme throughout the world.

L. MAGURA.

HONG KONG BRAKOM:

De Vaux Road Cars, Hong Kong. 1964 January,' 1890,

THE MERCANTILE BANK OF INDIA, LTD.

HRAD ́ÖFFIORI

„15, Ormonchurch Street, London, K.01.

BANKERS,

"Authorised" Capital ........£3,000,000 Bobscribed Capital ... 1,800,000 Paid-up Capital. :. 1,050,000 Reserve Fund and Best 1,645,500

[r, The Hands, of Kajlund 4 Midland ·Bank, 144,-

BRANCHES

Ka Tark

***(Maurition);

It should be pointed out, however, that the chief cause of this is the large increase of the world's petro- leum production, to which the Em- pire countributes only a very small percentage..

Empire Share of World Production,

The following is the world's total: production of the chief minerals and metals in 1928, the figures in paren. theses denoting the Empire percent- age share:-Coal; 1,440,000,000 tons (21.8); petroleum; 180,800,000 tons (1.8); iron ore, 173,000,000 tons (9.4); gold, 19,800,000 oz. (72.5); silver, 261,000,000 oz. (16.8); "cops per in ore, 1728,000 tons (8); tin in ore 177,000 tons (47); lead in. ore, 1.630,000 tong (291); zine le ore, 1,010,000 tons (21.8); mangan- eso ore, 2,900,000 tons (44.8) [nickel in ore, 49,000 tons (89,8); chrome ore, 430,000 tons (68,5)'; clipart dandelion of Banking and Mishapjen basbestos, 379,000 tons (90.2); Travalves Garçons Incée au Mabauxite, 2,000,000 tons (10.8); Trustee and. Executorships under-diamonds, 7,678,000 carats (74,7); taken HUNTERBOP šović on Durrent Ascolta in graphite, 144,000 foni (10.7); mica, Prod Deposisi:83) Balsa-that may be socketained 22,000 tons (58.6), phosphates, 10,- CL SANDES 000,000: tabs (8.7); -- potich, 2,170,- Manager, |000" "fon (0:1);:/ pyritas, 7,000,000 tonn (4:57) Balt, 20,000,000, tons

Poubey

Ockemba

Kota Bharu

Kurla Xrsi.

Dell

Koala Lépla

Kong: Kussian (Fpland). Mogapore

HONG KONŐ RÉANOIL.

iand,

Free State, New

Zealand,

er than for 1929.

I may rush from a dinner to a "Talkie”. and later on to a dance. But-

I NEVER CHANGE FROM Gold Flake

WILLS'S

As mild as a sun-kissed day in June-as mellow as a rare old port as sweet as a rich, ripe Honey Dew melon-Gold Flake for mine anywhere. anytime, always!

GOLD FLAKE

CIGARETTES

GOOD AS GOLD

}

=