1931-04-23 — Page 2

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BANK S

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorissé Capital

#60,005, onn

lued and Pully Pul3-ap .....................$20,000,000 Baser Pund-

Verling

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1855.

HEAD OFFICE: LONDON,

Paid-up Capital Reserve Fund

THE CHINA MAIL.

THE NO HONG BANK, LTD.

(Established 1917.3

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

£3,000,000

Authorised Capital Straits $20,000,000 Issued Capital

8,000,000

$10,000,000

.£4,000,000

Paid-up Capital

.... $20,000,000

Reserva Liability of Pro-

prietors

Reservo Liabilities

.£3,000,000

Agencies and Branches:

of Shareholdera Surplus

f

4,000,000

4,000,000 2,520,000

ALOR STAR

KUALA LUMPUA

(Malay Stat36)

KUCHISO

AMITHAR

MADRAS

MANILA

KEDAN

NEW YORK

PEKINO

PENANG

Soserve Llablity of Proprietore

HEAD DEVICE. WING KONU,

BOARD OF DIRECTORS;~ Plover. Mr. 6, 07, s, Sterile. Chairman.

ton, Mr. J. J. Pateroom. Deputy Chairman,

W. H. Hall, Exp 1. E. Power, Eng.

4. R. Conptate, Eng. J. A. Plymiser, Eaq,

B. Ide vele. Eng. T. . 1. Shaw, Esq.

0. Miskin, Kan.

1. 1. Weron, Eaq.. Chial Manage

V. M. Graybura, En.

TRANCHES:-

LONDON

LYONS

BANGKOK

BATAVIA

BOMBAY

CALCUTTA

CANTON

PAWNSPOJE

COLOMBO

DAIREN (indny

South Manchuria)

DELIN

AMOX

HANGKOK

+HATAVIA

MURDEN

MALAUCA

BOMBAY

MANILA

KALCHITA

MAN (Jahɔra)

CANTON

CHEFOO

MAGASAKI

NEW YORK

DALKEN FOOCHOW

PEIPING

HAIPRONI

HAMRUN IASKOW HATELL

HONGREW

ELL

FOR

RUBORE

KOBE

KOWLOON

MALA

PENANG

RANGODN SAMON

AS FRAMisch

SBANCHIAL

SINGAPORE

SUPRANATA

SUNGEL PATANI

HESINES

TOKYO

R-INAVIAD

YukiASIA

Carmat Accounts opened to bom Curmay Fed Upon end lose t shorter periode at Event Currency sad tering 30 sefine which will be grated an application. Hea on le fobruary, 19AL

HONG KONG SAVINGS BANK.

The use of the shore Bank in conduct. d by the HONG KONG AND SHANGNAT DANKING CORPORATIOS, Hubs my bo obtained 50 appaltation,

FOR THE HONORING AND SHANUMAI BANKING CORPORATIÓN,

V. M. BAYRERS,

Hong Kong, 18th July, 1939.

Chiel Manager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussmann, Paris.

Subscribed Capital Prs. 72,000,000.00 Paid-Up Capital, 68,100,000.00 Reserve Funds.Fra, 102,000,000.00 BRANCHES:

Bangkok

Battambang lue Conthe

Canton

Mengize

Nam-Tinh

Hong Kong Quinhon

Saigon Shanghai Singapore Thanhea Tientsin Fort-Bayard Papeete Haiphong Peking Tourane Hankow Prom-Pooh Vinh

Djibouti

Hanol

Neumea

Pondicherry Yannanfu BANKERS:

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

IN LONDON: The National Provin- rial & Union Bank of England, Ltd.; Comptoir National d'Escompte de Parix; Credit Lyonnais.

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

RAMING

BAIPHONG

BANKOW

HAUBIN

(H. Manchuria)

HÅND KUSO

1840370

PULS

KARACHI

KLANO

KONE

KUALA KAHOBAR

(Peak P.M.B.)

BAIDON

HANGOON

HENABANU SEREMBAN

SHANGHAI

SINGAPORE

SOURABAYA

TAIPING (P.M.B.) TAVOY

TIENT HIN

TORYO

TUNGKAR (Bhuket)

THINGTAO

YOKOHAMA

ZAMBOANGA

(Philippine Inlmadı)

General

Foreign Exchange and Banking business transacted.

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

A. H. FERGUSON,

Manager. Hong Kong. 8th January, 1929.

THE NATIONAL CITY BANK

OF NEW YORK.

HEAD OFFICE: $5, Wall Street, New York.

Capital, Surplus and

Undivided Profits..U.S.$224,554,298

Branchen In-

ARGENTINE

BELGIUM

BRAZIL CHILE

CHINA COLOMBIA CUBA

LONDON

MEXICO

PANAMA

PERU

PHILIPPINE

ISLANDS

PORTO RICO

DOMINICAN

STRAITS

REPUBLIC

SETTLEMENTS

URUGUAY

VENEZUELA

INDIA ITALY JAPAN

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

Dign

of

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 New York (France), S.A., in Paris and Nice.

F. McD. COURTNEY,

Manager. Kong Hong, 20th February, 1931.

THE

Interest allowed on Current Ac-AMERICAN EXPRESS COMPANY,

counts and Fixed Deposits according

to arrangements.

Every description of Banking and Exchange Business transacted.

Safe Deposit Boxes to let.

A. LECOT,

llong Kong, 1st May, 1923.

INC.

Head Ofee! 65, Broadway, New York.

Capital

Manager.

Surplus

Reserves

THE YOKOHAMA SPECIE BANK,

LIMITED.

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

BRANCHES:-

VipaveriaD Auswary

ปอนเ

เน็ตม

Цита

Naylon Picou

Pando

Li

Pariv

Fabang

Partite

Lexing

Bombet

Palermo

Rotterda

Üremen

Yen 115,000,000

Brussela

sade se Caire *£minutā

Established 1880.

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

Head lice:--YOKOHAMA.

Branches and Agencies al:

Alexandria

Batavia

Berlin

Bombay

Calcutta Canton

Manila Nagasaki

Nagoya

Newchwang

New York New

Osaka

Gelping

Rangoon

(Dalny)

(Mukden) Rio de Janeiro

Homburg Hankow Hatbin

Kong nolulu

Kui Yuen

.

Karachi

London

Kobe

Los Angeles

Lyons

San Fra

Francisco Seattle Seattle

Semarang Shanghai Shimonneeki

Singapore Soerabaya Sydney

Tientsin Tokyo Tsingtau

Interest allowed on Carrént. Ac- counts.

Deposits received for fixed periods

at rates to be obtained on application.

H. MORI,

Manager. Hong Kong, 11th April, 1981.

THE BANK

CASOM Coiataba Vamissioopla

Cupenhagen Edinburg

Floret

HARTS Juteriaken Jerusalers Lida Loodaa Liramoni Luteras Luges butor

Muellime Monte Carte

Kantia

Munich

Ventress SELAD

Bomoa Fiamboul

Shaoghal Southampton Singapor St. Morits Tiantia

Slar.Da

Velos

Yukata Zurich

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

All classes of Commercial Banking Transactions undertaken.

Personal handled

investment

Branches, 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.

{NETLEBLANDS TRADING BUGLETY)

DANKERS.

Barabillabed 1834.

Big Long Ofori-11, Quma's Road Owatoni.

Authorised Captial... Guiller 150,000,000-

(211,800,000,) Pald-Up Cxplial song Guldves 80,037,000 (48,684,178) Leserve Fund

........ Ouliders 0,018,00 (3,204,KR)

kland 08-AMSTERDAMT Eastern lisad O-DATAVIA, ORANCHES – Bendjarmasin, Bandung, Bombay,

Calusia, Charbon, Bumber, Djok jakarta®, The Hegus*, Jeddah, Kobe, Kuta-Radja, Makassar, Medan, Padaug Palembang. Pakalongan. Penang. Popliansk, Bag, Botterdam”, Semarang

Shanghai, Aboign 18umetra), Eskurin (Sala), Tegal, Tjilmap and Weinredes".

• These three have sain deposit boxes to tel Gondon Bankers 1-National Provincial Bank Lid, Correspondents all over the world Banking business of every description transected.

A. STOKEINE,

Acting MaunaEYİ,

Hong Kong, 18th August, 1981.

and

Commerce

Finance

HONG KONG TRADE IN REVIEW

Chamber of Commerce Annual Meeting.

POOR EXCHANGE OUTLOOK.

Objections to New Shipping Taxes.

The Hon. Mr. C. Gordon Mackie, who took the chair at the annual meeting of the Hong Kong General Chamber of Commerce yesterday, in the course of a review of the year's trade, expressed the opinion that low rates of exchange appeared likely to continue. There did not seem ground to believe that the dollar would recover for some time, or that it would recover to the level of former years. The Chairman criticised the new taxes on shipping, which ho considered wrong in principle. Times were very bad for trade, and many companies had only been able to carry on through rigid economies: Nor should shipping companies be asked to bear the cost of anti-piracy protection,

SILVER SLUMP AGAIN!

The Chairman was supported.

Sing hobby the following members of recovering to the level of former the General Committee: Mr. years. I join with Mr. Plummer in T. H. R. Shaw (Vice-Chairman),¡ his speech delivered at the last the Hon. Mr. J. Owen Hughes, annual meeting of the Hong Kong the Hon. Mr. J. J. Paterson,, & Shanghai Banking Corporation.in Messrs. W. H. Bell, V. M. Gray-! welcoming the prospect of restored burn, Paul Lauder, T. E. Pearce, peace in China, which, if it con- M. St. J. Walsh and J. P. tinues, will tend to increase the Warren with: the follow value of silver. ing co-opted members: the Hon. Mr. W. E. L. Shenton and Lt. Comdr. H. S. Squance, R.N., with the Secretary (Mr. M. F. Key).

THE BANK OF CHINA. 行銀國小

Reorganisevi October 26, 1928, under special charter of The National Gov ernment na an

INTERNATIONAL 'EXCHANGE

BANK.

HEAD OFFICE: SHANGHAI,

HONG KONG BRANCH: 4. Queen's Road Central.

CHAIRMAN'S SPEECH.

"

The Chairman said:-The report and Accounts of the Chamber have been in your hands for seme days, Subscribed Capital....$25,000,000.00 and I rise to move their adoption.

In reviewing the events of the .$24,710,200.00 Paid-Up Capital

-$.3.820,503.82 year, the question which has un- Reserve Funds

doubtedly caused the most concern both here and in China is the con- tinued fall in the price of silver and the consequent depreciation in silver currency.

The difficulties under which wa Owing to our numerous branches in labour are no less acute now than China and large connections in the im- when they were examined at some portant commercial centres of the length by the Chairman at the an- world, we are able to extend to our aual meeting of the Chamber in clients special facilities for domestic arch last year. If they are to be and foreign banking and exchanges.

judged entirely by the level of ex- change, they are, in fact, of greater perplexity. The downward trend of silver referred to last year de- Manager.veloped much as was anticipated, and the exchange rate of the dollar which at the end of March, 1930, stood at 1/6, now stands at under one shifting.

and

We also handle the issue of Bonds and other Public Funds of the Chin- ese Governmont both at home abroad.

SHOU J. CHEN,

Hong Kong, 5th March, 1931.

THE BANK OF CANTON, LTD. Established 1912.

Head Office: Hong Kong.

Authorised Capital (II.K. Currency) $11,000,000 Paid-up Capital

8,685,000 Reserve Fund

1,100,000

BRANCHES- Canton, Shanghal, Hankow, Bwalow Bangkok, New York and Sao Paolac

.CORRESPONDENTA

LONDON BANKERS:

The Lloyd's Bank, Limited.

La all pilocipal citim në tha Woeid. Pesign #tohange and backing buslomas ef

description transacted. *Bele Deposit Boxse (various inee) at a yearly

realet of from 0 to $10.

LOOK POONG SHAN,

Chief Manager.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO.)

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

FORMOSA

+

Central Bank in Formore Bank-Notes wased Atariga Kosoval „„„Žaz. 48,000,000 BRANCHES AND AGENCIES: account: JAPAN Tokyo. Yokohama, Kobe, Chaka.

Kagi, Kranto, Keelung, Yakong, Kanto, Balaki, Talu, To Takao, Tamwal, Zoen, Halla, Talle. CHINA-Shanghaliankow, Amay, Fooshow,

Bialow, Danion. OTHERSong Kook Blegipore, Boers, Calusta.

Demaren York Daire.

Homber Lendos,

LONDON BANKERS,

The conclusions of the Currency Committee appointed by the local Government have been made public and, accord in general with the opinion of your Committee on the points submitted. I will refer only to two of the points considered by that Committee.

Import of Foreign Goods. While conditions remain as at present, the import of foreign goods Into China must inevitably be severely handicapped. Unfortunate- ly world depression has simultane- ously checked the demand for Chin-: ese exports so that we, in Hong Kong, who are mainly dependent upon the trade of the great country at our doors, are necessarily pass- ing through a period of depression. Thanks to the re-establishment of

Statistical the

Department of which we are indebted to the Hong Kong Government, we can at least take stock of the position.

For the nine months of 1930 for which statistics are available, it appears that the imports of the Colony, expressed in sterling, were valued at (in round figures) £30 millions as compared with £53 mil- lions in the corresponding period of 1924. The share

United Kingdom fell from seven and a half million to two and three-quarter million pounds. Exporta were valued at £23 millions as compared with £45 millions in the earlier period. It should be mentioned that the foregoing figures can only be taken to convey a general, Idea of the situation, as in certain res- pects the statistics for the two periods are not strictly comparable.

of the

-Increased Value.

Now that the revised Statistical Department has been in existence for more than twelve months, the information accumulated becomes of increased value, and I take this opportunity of emphasising the ap- pen made by my predecessor in thie chair that business firms will see to it that their staffe fill in the forms promptly and intelligently,

so that returns, when totalled at the end of a period, are at least ap- proximately correct and comparable with earlier figures.

Premium on Paper Dollar. The first was the premium on the paper dollar. This was generally condemned as harmful to the trade of the Colony, and although no im- mediately practicable means of abolishing it were apparent, the opinion was expressed that under the prudent policy being pursued by the note-issuing banks, the premium British Trade Promotion. would disappear In time. As a Although business dealings here fact it has now disappeared, and

are international in scope, In a although some of the evils rather British Colony we naturally take frealy attributed to it still remain special interest in the promotion of with us,

we may, I think, now British trade. Your Committee, derive some modified consolation therefore, welcomed

the oppor from the fact that our dollar, tunity of doing all in its power to though it be poor, is at any rate assist the Economic Mission which honest.

recently visited the Far East. The second point considered by Apparently the members realisc the Currency Committer was the that if Lancashire is

to participate ularning influx of silver dollars as tinue

result of the premium on notes. China trade her prices will have to The problem of their ultimate come into line with her competitors. disposal appears now somewhat less That necessity has been pressed from this side very forcibly over a long period.

The Company offers to intonding Travellers the use of its "Travelers Cheques" and Letters of Credit and, in addition, the world-wide services of its thoroughly equipped, Travel De-The London County Wetter and Parr's Bank. Complex, and as it would seem very partment

The Back has Correspondante in all the principal unlikely that further imports will be Commercial Ountese throughout the world.

made, we may hope with more con- fidence that this disturbing factor will be gradually eliminated.

Affiliated with

I. NAGURA.

- Manager.

THE CHASE NATIONAL BANK HONG KONG BRANCH:

The Bodem.

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

C. H. BENSON,

General Manager.

OF EAST ASIA, LTD.

Katablished 1918,

HEAD OFFICE:

10, Des Voeux Road, Central

Capital and Burplan

Total Resourced

HONG KONG

OVER ILS 8,000,000.00 Over HL.$30,000,000.00

Every description of Banking and Exchange business

transected.

· Current and Fizsä Deposit Accounts in local and for-

eign currencies opened for cliente.

·Bavings Account and Bale Depoalt Boxes, Branches and Agencies all over the world.

KAN TONG PO,

Uhler Manager.

Hong Kong, 19th January, 1980.

YOU

Gold Stardard.

to COR- iT the

Other points, principally with re- ference to distribution, have also been raised by the Mission, but it) does not appear desirable to com- The question of this Colony go- ment further on the several recom- ing on a gold standard has been mendations put forward until we much discussed, and your Commit- are in possession of the full report. tee has recorded its opinion that We trust the report of the Mission the change is inadvisable while will lead to definite action on the China remains on a silver standard. | part of all concerned with a view to You will not expect me here to en- enabling British manufactures to!

(Continued on page 7.)

ARE INVITED TO‘INSPECT OUR ter at length into the considerations

STOCK OF

ASIATIC FOREIGN AND COLONIAL

POSTAGE STAMP

IN SETS, SINGLE PACKETS,»

BAGS AND IN APPROVAL. SHEETS.

GRACA & CO.,

Dealers in Postage Stamps, Philatelle Goods, Picture, Postcards, Toy, &c.

10, WINDHAM STREET, P.O. Box No. 620. FONG KONG.

that have influenced that opinion. I will only say that the Chamber welcomes with much satisfaction the Currency Mission, that has re- cently arrived from Home to ex amine the wholä question, following the recommendation of the Cur- rency Committee. The result of its deliberations will be awaited with great Interost, and its members may be assured of the full co-operation of. this Chamber in all matters con- perning which it may be of anaŝist-

ance.

All that can safely be said of the immediate future of exchange Is that a continuance of low rates api pears likely, and that it would seem unwise to build hopes on the dollar

ALEXANDER'S INSTITUT DE BEAUTE

For the best Permanent Finger and Marcel Waves, Hals Catting and Manicure for. Ladies and

Gentlemen...... -' Podder Bldg. at Boor. Room 5. Budget? Tel. 25169,2

Opposite entrance. ILK. Hotel

THURSDAY, APRIL 23, 1931.

THE

HỒNG KONG

PENINSULA HOTEL:

HONG KONG HOTEL; REPULSE BAY HOTEL; PEAK HOTEL

AND

SHANGHAI

ASTOR HOUSE HOTEL; PALACE HOTEL;

HOTELS,

LIMITED

In association with the Grand Hotel des Wagons Lits, Peking.

THE

HARBOUR VIEW PRIVATE HOTEL.

9-12, Chatham Road, Kowloon. Finest Situation on the Peninsula. Large Atry Rooma with Full Benefit of the Cool Sea Breezes. Unequalled Cuisine.

l'hone

Proprietress-Mrs. Gardiner.

Tel. 56734.

MARBLE HALL

Cable Add "Harview."

21. Nathan Rd., Kowloon.

Tel. 67089,

A SELECT PRIVATE HOTEL FURNISHED WITH AN EYE

TO THE COMFORT OF ITS TENANTS.

Overland China Mail.

A WHOLE WEEK'S NEWSPAPERS IN ONE.

Possibly the worst train disaster ever known in the Colony occurred during the week when a local train from Shumchun plunged thirty feet from the rails at a place be tween Taipe and Shatin, where torrential rains had under- mined and washed away the banking. At least eleven deaths, with many injuries, resulted, and agonising scenes were witnessed when rescue parties endeavoured to free the victims, who were trapped in the wreckage. It is re- ported that 13 inches of rain fell in the district in 48 hours. The OVERLAND CHINA MAIL contains a full and graphic account by eye-witnesses of the rescue scenes.

*

Sharp sentences were dealt out at the April Assizes in the case of two Chinese who were caught counterfelting American silver dollars near Shaukiwan, The OVERLAND CHINA MAIL gives a detailed account of the trial.

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The annual meeting of the Hong Kong and Shanghai Hotels was notable for an urgent plea by a shareholder that a stabilised currency be adopted in the Colony. Another shareholder urged that the company get rid of their “out- side" holdings, and concentrate entirely upon business in Hong Kong. The OVERLAND CHINA MAIL, which con tains a complete report, also records the Chairman's state- ment as to the increased popularity of the company's buses, together with his outline of possible future activities,

*

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A daring attack by many pirate junks upon the stranded ss. Limchow, at Poshim Pagoda, Hainan Strait, necessitated an urgent call for protection from the salvage tug standing by, À British destroyer was at once despatch- ed to the scene. The pirates had looted and set fire to the abandoned ship, which is thought to have had valuable cargo aboard. The OVERLAND CHINA MAIL carries full details.

*

A gratifying report to shareholders of the Hong Kong Engineering and Construction Company was made at the annual meeting, when it was announced that it was the first time since the company's inception in 1922 that the Trading Account had shown a profit. In spite of increased competition, it was hoped to maintain the improvement. The meeting is reported in the OVERLAND CHINA MAIL.

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

Letters to relatives and friends in】 tia, and Canada testify to the keen other parts of the world frequently pleasure and intarost its wookly fail to be written even by the most arrival brings,

;

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

The word "Overland" is a re- minder of the experience behind the Without any trouble of packing production, it having been publiak. and worrying about the Post Office ad since the early days of the on your part, and at the cost only Colony, to be sent OVERLAND of $4.75 for thres, months, the because there was no Sues Canal, "Overland China Mail" will be and that was the quickest route sent Home for you every week. by which to get mall Home. In catching the mail regularly. I the march of time the "Overland contains the news and special China Mail" has become the most features from the daily "China popular weekly news budget, as is Mall" that make a studied appeal has been compiled fist to mult

with people

any intereat present-day requiremente, as it has somatsoever in Hong Kong, and done all along. What more could many letters from Home, Austra·{be desired f

to

'READY TO - MORROW

Mail via Suez closes at 10.30 a.m., April 25.

and via Siberia at 10 a.m., April 25.

J

SINGLE COPY

25. Cent.

! ་

[Hall on the strests and at the bookstalls or you can send your sabscription to the ollos,--FLE. $12 per sRKEN, DE $19 Including postage abroad. Hall-yourly

or quarterly perfoda pro' rata.)

No. KA, WYNDHAM STREET-PHONE 20022.

*THE OVERLAND CHINA MAIL"