1931-04-27 — Page 2

BANK S

HONG KONG AND SHANGHAI ́ BANKING CORPORATION.

Authorland Capital

Lourd and Fully Paid-up (30,000,000 Reserve Fundej

Aberling........... £8,500,000

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

Reservo Liability of Proprietors $27,000,000

HEAD OFFICE: HONG KONG.

BOARD OF DIRECTORS:-

Ton. Ne. C, 13, R. Mackie, Chairman,

flow. Br. J. J. Patensau,

lepky Chairman,

, 11, Ball, Esq. T. E. Parra, Eat-

A. II. Compton, Eag

J. A. Plamuure, Eng.

D. Lander Lewis, Eng, T. II. B. Haw, Esq.

Q. Main. Eng.

AMOY

BANGKOR

BATAVIA

BOMBAY

CALOUTTA

CANTON CREPON COLON Jus

DAIRES FOOCHOW HAIPHONG

HAMIN HANKOW ZARDIN

J. M. War.an. Esq.

Chin! Kangur.

V. M. Grayburn, Leja

HRANCIES:---

LONDON

LYONS

MALACCA

MANILA

MUAR (oborat

HEXDES

NAGASAKI

NEW YORK

PERU

PENANO

RANHOON SAKION

SAN PRANCINOM

SILANOHA

HONGKEW

KOSOARE

ILOILO

HOURADAYA

HUNGHI PATANG TIENTSIN

Trou

JUHURE

KODE

KOWLOON

KUALA LUMPU

TUKIO

THENUTAG

YOKOHAMA

Cerre Avointa opened in Long Cutary and Fized Deposite received fur UF year of shorter perioda in Leon Carrey and Sterling

(which will be quoted on opphestion tlong Kuna, 29th February, 1031

HONG KONG SAVINGS BANK.

The Banister of than whose Bank i conduct ed by the 150NO RUNG AND SHANOLIAJ BANKING CORPORATION, Bulee may be ablalord on application.

FOR THE HONRONG AND SHANDHAT BANKING CORPORATION.

V. M. GRAYBURN,

Hong Kong, 10th July, 1990.

Chist Manager.

"BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Houlevard Haussmann, Paris.

Subscribed Capital Fra. 72,000,000.00 Pald-Up Capital ... Fr. 68,400,000,00 Reserve Funits .. Frs.102,000,000.00 BRANCHES:

Bangkok Hong Kong Quinbon

Saigon Battambang ur

Cantho Mengize Shanghai

Canton

Djibouti Neumea

Num-Dini Singapore

Thanhea Tientain Tourane

Fort-Bayard Papcele Haiphong Hankow Blanot

Peking Phom Fonh Vinh Pondicherry Yunnaniu BANKERS:

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

IN LONDON: The Nations! Proxin- cial & Union Bank of England, Ltd.; Comptoir National d'Escompte de Paris; Credit Lyonnais,

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

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

THE CHINA MAIL.

THE HO HONG BANK, LTD.

(Established 1917.)

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

Authorised Capital Straits $20,000,000 Issued Capital

Reserve Liabilities

HEAD OFFICE: LONDON.

Paid-up Capital Reserve Fund

..£3,000,000

.£4,000,000

Reserve Liability of Pro-

prietors

Paid-up Capital

.£3,000,000

Agencies and Branches:

of Shareholders Surplus

ALOR STAR

KUALA LUMPUR

(Malay MiniOS)

KLOWING

AMRITHAR

MADRAN

MANILA

MEDAN

BANGKOK

SATAVIA BOMBAY CALCUTTA CANTON CAWAPORE

CKBU

COLOMBO

BAIREN D$37

Hosh Macburia)

DELIA

HAIPHONG

HAMBURO

HANROW

TARIKN

TN. Maochum)

NEW YORK

PERINO

PENANG RANGOUN

BAIGON

SEMARANG SEREMBAN

TAIPING [F.3.8.)

SHANGHAI

БІМОАГОЛЕ

NOURABAYA

ΤΑΧΟΥ

BOND KONG

TIENISIN

ILOILO

TOKYO

TSINGTAO

TPON

RAHACH

RIANO

KIDE

HUALA KANGSAR

Perak F...)

TONGKAH (Nhưk«6}

YOKOHAMA

ZAMBOANGA

(Philippine Jelanda)

Foreign Exchange and General Banking business transacted.

Current Accounts opened and Fix. ed Deposita received for 1 year or shorter periods at rates which will be quoted on application.

A. I 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.$224,554,208

Branches in:-

ARGENTINE LONDON

BELGIUM BRAZIL CHILE CHINA

MRBIA.

DOMINICAN

REPUBLIC INDIA. ITALY JAPAN

- MEXICO

PANAMA PERU

PHILIPPINE ISLANDS

PORTO RICO

STRAITS

SETTLEMENTS

URUGUAY

VENEZUELA

Commercial and Travellers' Lettera 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.

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

8,000,000

and

Commerce

Finance

U.S.A. AND THE ECONOMIC CRISIS

4,000,000 LESSONS OF A TRAGIC TWELVE MONTHS.

4,000,000 2,520,000

Branches, Agencies and Corrospon-

dents in the principal cities of" the world.

Every description of Banking and Exchange business transacted.

TAN ENG HOOI,

Managar,

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHEBLANDO TRADING SOCIETY)

DANKERS.

Estabilobed 1821.

Hong Kong Boei-ll, Queen's Road Cacoral,

Authorised Capitalulliers 180,000,000

[213,800,000.) Tatd. Up Capital

Guld 20,000 126,600,170) Oulder 0,018,000 (41,120,000)

Fund

MONDAY, APRIL 27, 1931.

ponding unemployment in those cut-throat competition by regulat- Industries. The same conclusion Ing production to reasonable has been reached in other quar. lovela. Rationalisation Itself is ters.

In need of rationalisation. In the "Even the American Federation face of a growing oversens trade of Labour, though still desperate-the philosophy of high protection Is being subjected to a critical re- examination.

ly clinging to its old faith in a high tariff, announces: 'Wo do pend on foreign countries for an

important part of our trade

From Unparalleled Prosperity to Severest Slump.yunded.

Little more than a year ago the United States of America ap- peared to have solved the riddle of economic well-being, which was denied to other countries. It was a beacon of hope for the rest of mankind.....the climax and vindication of undiluted capitalism. Suddenly that country found itself plunged into the darkness of a slump as severe as anything the modern world has yet suffered, even including the dreadful "Hungry Forties."

i

and

"In a word, the old bottles will not hold the new wine of prosper. the fate of wage-earners abroad is Ity. An era of unexampled pro- closely linked with ours." The gress has been brought to a sum- knell of the economic isolation mary end. It Was the final and self-sufficiency of the United flourish of individualism and isola. States could hardly be more clear- tion. A new period is now begin. ning in which prosperity will be New Ideas Wanted.

gradually rebuilt, for the founda. and it is slowly penetrating the based

"The conclusion is inevitable, tions are firm, but by methods on the needs of the new American consciousness," The world rather than the habits of Round Table goes on: "America the old. The scope of this fresh cannot be a world-power in the effort and the conditions of its economic sense, without becoming success are once more lucidly de fined by Mr. Owen Young, whose a fitting summary of words are this interpretation of Americn in the great depression:-

The effect of this experience on American psychology is the er pithly expressed it: subject of the following article.

a world power in the political sense, with all the obligations and responsibilities which that status involves. As one American writ-

"We are trying to ran twentieth-century industrial world with eighteenth-century political ideas. The Unit ed States continues to live in the intellectual atmosphere of Jeffersonian Individuallam. Its administrative system is rough- ly the same as in the days of Its philosophy of in- ternational relations is inherit- ed from Hamilton. It repeats the Declaration of Independence 18 if nothing had happened since 1776. . . . It does not see -at least it will not admit- that the advice contained in Washington's farewell address is as obsolete as the stage coach in which he rode from New York to Philadelphia.

Has there ever been quite so "Within five years one workmar precipitate or unexpected a catna- | was enabled to turn out ten times trophe? Little more than a year as many tyres, which lasted alx ngo the United States was driving times

Where hundreds as long. along af tremendous speed, the of operatives would have been for Dead for AMSTERDAM Eastern Bad Omon~~BATAVIA.

wheels of industry and commerce merly employed, glass now auto- BRANCHES Bandjarmasin, Bantong, Bombay. turning faster and

Jackson. faster, export matically flows out in an endless Calcitin. Chirima, Dimber. Dinh

direc-band with a few men to check the {akaria”, The Hagus”, Jeddah, Kobe, trade expanding in every Kate Badju, Maisar, Madan, Padang tion, stock-market scaring to an-temperature of the furnaces. Palambang.

A PEDALE

bolga

Gam

Pekalongan,

Bhangbal,

Poallansk Bangoon, Bobandam dreamed of heights, employment (Buchstra), Ringapor.. Sound profits abundant, comfort, and Soerskarta (Bala), Tagal. Timp and luxury spread more widely and Wattanden

deeply over the land than in úny country at any time.

• Thean offcam Bare safe depoel buses to fat. London Bankera:-Fational Provincial Bank Lod. Correspondenta all over the world Banking businen of urety description transaziad,

A. STOKKINK.

Azlina MaonEAS,

Com cog, 18th August, 1980.

THE BANK OF CHINA.

行銀國巾

Reorganised October 28, 1928, under special charter of The National Gov- ernment as an

INTERNATIONAL EXCHANGE

BANK.

similar process has been success. fully applied to motor car chassis. Dependence on Export Trade. "If only 14.5 per cent. of the boot factories were operated full "The bolder economists were time they would produce 95 per prophesying the dawn of a new cent. of the total production, thus ago in which prosperity would be crowding out most of the other permanent, based on high produc- | establishments. The automobile tion, high wages and high con- plants of the United States pro- Rumption of an insatiable home duced 5,358,420 vehicles in 1929, market. Even the President's and almost certainly were not Committee on Recent Economic working to full capacity. The Changes summed up its masterly steel plants were rated to produce survey last year with the words. 62 million tons, yet in that alto- 'Our situation is fortunate; outgether exceptional year they only momentum is remarkable."

turned out 56 millions. In almost every industry unrestricted com. petition, working through con stantly improving machinery, has of abundant currency and credit and created a productive capacity in excess of any normal require.

ments of the homo market.

A Decided Change in Outlook.

"And yet, under the pressure of i depression, American psychology is undergoing real, if slow, trans- formation. The doctrine of indivi- ; dualism to losing its magic. The old free buccaneering days, in which every man fought for him- self and the devil ruthlessly took the hindmost, are gone for ever. ; There is now a social conscious- ness developed which is imposing all kinds of administrative limita- tions on unfettered competition.

"This phrase was better. attun- ed to the public mood than their caveats as to the need for main- taining balance, their misgivings Subscribed Capital....$25,000,000.00 about the state of agriculture, Paid-Up Capital ...$24,710,200.00 their doubts as to the healthiness

·Reserve Funda ..3 3,820,503.82 off unlimited speculation. In a

"The State is now intervening world of darkness or twilight the The Problem of Balance. more and more for the protection United States stood out boldly and The problem now facing the of the farmer and the worker-of brightly in the sunshine, having American people has been concise. the former by guaranteeing him apparently found a solution of the ty stated by Mr. Owen D. Young, stable prices, of the latter by rea- riddle of economic well-being un-who asks 'What are we to do with tricting the employment of women attainable elsewhere. It was ก our surplus of wheat? ither we and children, by fixing compensa. beacon which at.engthened and must burn it at home or sell ittion for accidents and by acknow- encouraged those who were slow- abroad. If America starts to lodging the duty of succouring

HEAD OFFICE: SHANGHAL

HONG KONG BRANCH:

4, Queen's Road Central.

arc hungry elsewhere In the

Owing to our numerous branches in China and large connections in the im. of the International Banking Corpora-portant commercial centres of the flen in San Francisco and Spain and world, we are able to extend to our struggling back to the light burn surplus wheat when people him in unemployment. Moreover, also of The National City Bank of clients, special facilities for domestic from the shades into which the and foreign banking and exchanges. New York (France), S.A., in Parit

war had plunged them. As long We also handle the issue of Bonds and Nice.

F. McD. COURTNEY,

and other Public Funds of the Chinas Amerien held on its way, there eso Government

was hope for the rest of mankind. abroad.

It was the climax and the vindica tion of undiluted capitalism."

Spectacular Crash.

Manager. Hong Kong, 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.

INC.

Hend Oce: 65, Broadway, New York.

Manager.

Capital Surplus Reserves

0.9.$0,000.000

U.S.$1,572,454

U.S.$1,908.200

A. LECOT,

Hong Kong, 1st May, 1929.

THE YOKOHAMA SPECIE BANK,

LIMITED.

Established 1880.

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

Yen 115,000,000

Head Office:~~YOKOHAMA.

Branches and Agencies at:

Alexandria

Batavia

Berlin

Bombay

Calcutta

Canton

Changchun

Manila Nagasaki

Nagoya

Newchwang New York Osaka Poir Peiping Dairen (Dalny) Rangoon Fengtlen (Bukden) Rio de Janeiro

San Francisco. Seattle Semarang

Hamburg Hankow

Harbin Hong Kong Honolulu Kal Yuen

Karachi London

Robe

chimonoseki "Singapore Soerabaya Sydney Tientsin Toky 401M Interest allowed on Current Ac. counts.

Los Angeles Lyons

ماهيتا

BRANCHES:-

Amsterdam Antwerp

Athana

Gand Dingen BATADO

Ni Kaplas

Bariln

Hesburg HATTE Interlaken Jaruselam Lide Lonios Liverpool Lu

Paria Голав

Faking

Palermo

Rotlardam Rema

Lugus

Berbay

Bremen

Brusela

Buenos Aires Calzo Csicalle Cannes Osismba

Luxor Marseilles

Constantinople Monte Carlo

Copenhagen

Edinburgh

Floramos Geber

Branches

Haplis

Kubick

1400LWLE Hilan

Bramboul

Shangbal Southampion Eupor St. Morits Tientada

and

both at home

SHOU J. CHEN,

Manager. Hong Kong, 5th March, 1931.

THE BANK OF CANTON, LTD.

Established 1912,

Head Oflice-Hong Kong.

Authorland Capital (H.E. Currancy} $11,000,000 Paid-Up Capita

8,683,600 Bowers Fund

1,F00.000

CORRESPONDENTS

world, that fire will start a con- flagration which we cannot stop.

the more far-sighted employer wel- comes rather than resents such in- torference, as he realises that There is no way out ex- good conditions are necessary to cept to market this surplus where production and contentment in an men are hungry." For manufac-industrial democracy, just as he ture the solution is the same as believes in high wages JJ the "In twelve short months," says for agriculture. As our produc foundation of his home market. the Round Table, "this picture of tion per man increases in our fac unparalleled prosperity was trans-tories, and goes beyond the power formed into the severest slump of our consumption, we must ex which America has ever experienc-port that surplus or have corres. ed. Within one year after the Wall Street crash the combined average value of fifty representa- tive stocks dropped from nearly $260 to $160. It is now lower

BRANCHES Dentoo, Shanghai, - 'Tinokow, floralc Bangkok, Naw Took and Sex Fra still. Production in almost every industry of importance had been reduced in spectacular propor- tions.

LONDON BANKERS,— ·

The Lloyd's Bank, Limited.

do all primeipal cities of the World.

Foreign exchange and banking business of

ry Enterition transacted.

Bala Deposit Bezan (varlom alane) si a guarly rental of trpan 35 to $10,

LOOK POONG SHAN,

Chief Manager.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO.)

"It was stated that by Novem ber 8 the steel industry was work- ing to 44 per cent. of its capacity. The October output of private motor cars was 112,209 as against 318,462 in 1929 and 338,224 in 1928. In practically every trade. the slump proceeded as winter drew on. With the decline of the home market the collapse of the export market kept pace as the world depression deepened. For the first six months of 1980 the Bank-Notas uoad Avarage amount Tab. 40.006,000 Department of Commerce reported

BRANCHES AND AGENCIES: TORMOSA:dian, Legi. Kasures of all exports and re-exports as a drop in values of 20.9 per cent. Tokyo, Yokohama, Kobe, Qazka. akong Nacio, Bedacht, Tahu, Talasa, compared with the same period in Takao, Tacosul, Town, Hell, Talto. CHINA-aghai, Rankow, accounts

Amoy. Fooebow, 1929, Ewalow, Canton OTHER RO Kung, Singapore, Boara baya, "Not only were manufactured

Bataria, Nomisy

Valce Yokobama Zurich

of American Express Company in Principal elties of Unit od States of America and Canada.

All classes of Commercial Banking Transactions undertaken.

Personal investment handled.

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

JAPAN

Central Bank is Formosa.

Loodan," New York, Dalen.

LONDON BANKEDS.

Cuc

The Company offers to intending Travellers the use of its "Travelers The London County Westminster and Farr's Back, Cheques" and Letters of Credit and, in addition, the world-wide services of its thoroughly equipped Travel De- partment.

Afiliated with

Deposits received for fixed periods THE CHASE NATIONAL BANK

at rates to be obtained on application.

H. MORI,

Manager.

Hong Kong, 11th April, 1991.

Resources 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. HONG KONG

Capital and Surplus

Total, ResourCON

over HL$ 8,000,000.00.

over H.$20,000,000.00 –

Every description of Banking and Exchange business

transacted,,

Current and Fixed Deposit Accounts in local and for

eign currencies opined for clients.,

Savings Account and Bafe Depoalt. Bozen. Branches and Arenplow all over the world

KAN TONG PO,

Chiat Mania FOE.

The Bank hae Correspondasin in all the principal Commarcia) Centre throughout the world.

K. 510CEL

Manage.

HONG KONG BRANCH

8. Don Vamax Bood Cratint Hong Kong, 19h January, 1939

articles affected, such as autonio- biles-46.1 per cent, cotton fabrics most of the staple raw materiale -34.4, tyres-22.8, paints-18, but

and agricultural products, cotton -31.1, copper ingots-45.4, coal- 8.7, apples 66:4, oranges--38,8, canned fruits-9.6. Only light oils, wheat and some types of machinery held their own or im-

41FF821C02{XE25[8]@126101220016 (15) PENS (163|||||31835 proved their position.

"The inevitable result was wide-

COASTWISE spread and acute unemployment.

by

‘ALGIE" BENNETT. An interesting book of Cartoons depicting "Happenings on the China Const

PRICE $1.00.

·Noro on sale at

-BREWERS S

WHITEAWAY, LAIDLAW"

EXCELSIOR BOOK: FTORE.

and at the Publishers

No precise figures available in the absence of any reliable stitis, tics. The estimates vary from three to six million with the prob abilities inclining strongly to wards the Istter rather than the former figure, while the number of workers on short time likewise runs into several millions.

Over-Production. Ponnible, "It is now generally admitted that there can be auch a thing as over-production in the sense that American industry. Is geared to produce far more of many articles than the American public can pos sibly consume. In spite of high wages there was a limits In's sense, the very facility of produc- tion defeated its own end. More. and more machines turned out toore and more things with fewer and fewer men employed. Tilug- lib trations may be found ston/eváry.

hard

The Newspaper Enterprise, Liz China Mall Building,

"Cut-Throat Competition to. Reasonable Levels.” "Again, business itself is de manding the means of restricting

'When our political policy in international affairs becomes co operative in spirit, which need not involve us in entanglements or alliances; when our economic policy looks to the economic de velopment of the world as a whole and the improvement of living standard and consuming power of peoples everywhere; when our tariffs and our treaties are made to evidence this spirit: then we may hope for effective plans for farm relief, for reduc

our surplus of raw materials and manufactured goods, for relief

of unemploy ment, and for what is most im portant of all, a better spirit of all nations towards us and to. ward each other. That means peace, and peace thrives in a world of contentment and mutual welfare. It cannot live in a world or in a nation where there are great inequalities and injustices caused by man-made barriere","

tion of

RENEGADES

COMING? 77

AN INTRODUCTORY HISTORY

by

A. H. CROOK, O.B.E., M.A. W. KAT, M.A.

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

PRICE $2.00.

NOW ON SALE AT THE

PUBLISHERS.

The Newspaper Enterprise Ltd.

China Mail Offices.

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

I NEVER CHANGE FROM Gold Flake

WILLS'S

༦ ཝཱ ཝཱ་ ནྟིཝནཏཱ་

As mild as a sun-kissed day In June-as mellow as a rare old port-as sweet as a rich, ripé Honey Dew melon-Gold Flake for mine anywhere, any time, always.

GOLD FLAKE

GIGARETTES

AS GOOD AS GOLD

*

3