1931-05-04 — Page 2

+

Hearing Ailver

£1,600,000

THE

CHINA MAIL.

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Aztkorlard Capital

150,000, QUE

Tamed and Pally Pud-up . $20,000,000 Reserve Funda

mwomanggis nomigan $10,000,000 Roterys Clubility of Proprietore ... $290,00),Dh

HEAD OFFICE; HONG KONG.

BOARD OF DIRECTORS – Hon. Mr. C. (1), 8. MuckİM. Chairman,

4. Mr. J. J, Palermina Denly Chairman.

V. F. Dall, Esq.

T. E. Pearen, at.

*, H. Compton, Esq. 1. 5. Pintar, Peg.

3. Lauder Lomu, Eng. T. 11. 1. Show, En

Makin. Ear

1. P. Warran. Reg

Mungu.

V. 3. Urayburn, Bay

BRANCIES:--

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1863.

ЛАКОКОК

BATAVIA

BOMBAY CALCUTTA CANTON. CAWNFORK

CKBU

COLOMBO

JAINEN (Dainy

Houth busta)

DELHI

NEW YORK

PEKING

PENANG

ISA NIMION

SALOON BEMARANO AERENDAN

THE HO HONG BANK, LTD.

(Established 1917.)

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

AMOY

BANGKOK

BATAVIA

4MBAY

SALCUTTA

CANTON

CHRZOL

DAIDEN FOOCHOW KAIPEIONAL JAMBUHA

HASHOW HARBIN BOBOREW

(10160

IPOU

JOHURE

KOBE

KOWLOON

Chist Mone

SEALA LENDER

KORISTEL

AYONN

MALACCA

MANILA

SCAR Charmi

MURDEN

SEW YOR

PAPINO

PENANU KANGGON

+ A [tie2

SAN FRANCISIN SHANGHA

SINGAPORE SOURAJIA YA SEXDEL PATAN TISTSIN

TONYE

TAISTALE SUKOHAMA

forrant Ascounte opened in Local Cures 19 so Fized Deposits raised for the sour shorter Berkola" in Local Currency and Sterling Notarios which will be quoted on applicuitan. Hong Kong. 2 Pabruary. ONL

HONG KONG SAVINGS BANK.

The Busine of the mhne Dank in conduct ed by the OSO K450 AND SHASOBAL DANKING CORPORATION. Buine may be

KAL THE

atta and ERNO AND SHANGHAI BANKING CORPORATION.

V. M. GRAYNURS,

Hong Kong. 10th July, 1930,

Chlet Macapor.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussmann, Paris.

Subscribed Capital, Frs. 72,000,000.00 Paid-Up Capital...Prs. 88,400,000.00 Reserve Fund....Frs.102.000.000.00 BRANCHES: Bangkok llong Kong Quinhon

Tue Battambang Blue

Saigon Mongize Shanghai Canthe

Nam Dinh

Singapore Thanhea Tientsin

Canton

Djibouti

Neumen

Fort-Bayard Papeete

Haiphong Peking Toruse

Pnom-Penh Vinh

Hankow Hanoi

Pondicherry Yunaantu 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 National Provin- cial & Union Bank of England, Ltd.: Compluir National d'Escompte de Paris; Credit Lyonnais.

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

Intereat allowed on Current Ac counts and Fixed Deposita according to arrangements.

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

A, LECOT,

Hong Kong, ist May, 1929.

and

Commerce

Finance

MONDAY, MAY 4, 1931.

between the trade union and the Timber Trust who were paid from 11% to 3 roubles

Nine- a day. tenths of the

workera were peasants who had been engaged in this work during the winter all their lives, and about one-tenth were professional timber workers. It was not really a question of

GRAMOPHONE WORLD BOYCOTT OF dumping or a threat to the indus

HEAD OFFICE: LONDON.

Paid-up Capital

.£3,000,000

Authorised Capital Straits $20,000,000 Issued Capital ....

Reserve Fund

£4,000,000

Reserve Liability of

prietors

Pro-

Paid-up Capital ... Reserve Liabilities

.£3,000,000

of Shareholders Surplus

1

8,000,000 4,000,000

4,000,000

MERGER EFFECTS.

2,520,000

ALON KAN

(Malay titatus)

AMBITRAR

Agencies and Branches:

HA EIN

KUALA LUMPUR KBCHING.

MADRAU

MANILA-

MEDAS

BOURABAYA

HAIPHONG

SHANGHAI

HAMBURG

SINGATURE

HANKOW

TAIPING (FMA)

(N. Manrburis)

TAVOY

LORIA

TOKYO

KARACHI

KLANO

ITYORK

BORK

KALA KANGBAL

[Tak P.M.5.)

TIEXIBIN

TONDRAH (Nbake}}

THINGSAO

ХОХОНАМА

RAMBOANDA

Philippine Islander

Foreign Exchange and General Banking business transacted.

Current Accounts apened and Fix. Denesits received for 1 year or shorter period at rates which will

pant on application.

A. H. FERGUSON,

Manager. hang 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.$224,554,298

Branches In- ARGENTINE LONDON BELGIUM BRAZIL

CHILE CHINA COLOMBIA

CUBA CUDA DOMINICAN

REPUBLIC

INDIA

ITALY JAPAN

MEXICO

PANAMA

PER

PHILIPPINE

ISLANDS

PORTO RICO

STRAITS

SETTLEMENTS URUGUAY VENEZUELA

Commercial and Travellers' Letters of Credit, Travelicra' Cheques, Bills of Exchange and Cable Transfers Lought 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- tamers the services of the Branches

of the International Banking Corpora tion in San Francisco and Spain and also of The National City Bank of Now York (France), S.A., in Paris and Nice.

F. McD. COURTNEY,

Manager.

Hong Kong, 20th February, 1931,

THE

AMERICAN EXPRESS COMPANY, INC.

Head Office: 85, Broadway, New York.

Manager.

Capital Surplus Reserver

THE YOKOHAMA SPECIE BANK,

LIMITED.

Established 1880.

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

Yen 115,000,000

Head Office:-YOKOHAMA.

Branches and Agencies st:

Manila Nagasaki Nagoya

Alexandria

Batavia

· Berlia

Bombay Calcutta Canton Canton Changchun

Dairen (Dalay)

Newchwang New York Osaka Pelping Rangoon

Fengtien (Mukden) Rio de Janeiro Hamburg

Hankow Harbin

Hong Kong

Honolulu -Kai Yuen Kerschi

Kobe

London

Los Angelca Lyons

Interest allowed counts.

San Fra

Francisco Seattle Semarang

Shimonoseki Singapore Socrabaya Sydney

Tientsin Tokyo Taingtau

on Current Ac-

Deposits received for fixed periods

at rates to be obtained on application..

H. MORI,

Manager.

Hong Kong, 11th April, 1981

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

Every description of Banking and Exchango business transacted.

TAN ENG HOOI,

Manager.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

{NETHERLANDS TRADING SOCIETY)

BANKERA

—

Established 1824.

Hong Kong Offs:-11, Queen's Bond Denwal

Authored Capital

Paid-Up Capital om

Eatery Fund

Quilders 180,000,000- (219,000,000.) Öslider 50,080,000 (46,000,150) ... Ouller 40,015,000 (23,34,688)

Head Ofɛs:—AMSTENDAM” Eastern Head Ofoe:-BATAVIA. BRANCHES 1- Bandjartasain, Bandrang*, Bombay,

Calcutta, Cheribon, Djember, Djok | Jakarta", The Bagun", Jodda), Kabe, Roin-Hadja, Makasar, Madas, Padang Falembang. Fenlongan, l'batiszak, Ramon Hotterdam Hamaran", Fangbal Sibolga (Summer), Singapore. Xourabaix Sourakarta Solo, Tegal, Titialap and

Watlavrador".

Fong

* Thon offons bare safe deposit boxme to lab. London _Bankers :—Nailonal Provincial Bank [43. Correspondents all over the world Banking dusinner of stary description iransacted.

4. ЯТОНКІМЕ

Acting Manager.

flova. Koog. 18th August, 1930,

THE BANK OF CHINA,

行銀國

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

INTERNATIONAL EXCHANGE

ernment as an

BANK,

Economies That Will Be Passed On.

COMBINED RESEARCH.

the

RUSSIAN GOODS.

International Move Disclosed.

À

of Commerce,

B

try of the United Kingdom, but of

venomous political campaign | against Russian Imports and the reconstruction work in Russia, "When I left Moscow," he said, "they were preparing the next Five-year Plan to carry on the de- velopment beyond the scheme

started two and a half years ago.

"WORST OVER.”

BUSINESS FORECAST FOR THIS QUARTER.

WORLD PRICES RECOVERING.

Rugby, Saturday.

The Federation of British In- dustries' business forecast for the second quarter of 1931 states that in the past quarter there was a perceptible improvement in the domestic situation of the principal countries. While this Improve. ment was due primarily to per-

has decreased,

world

DENIAL OF DUMPING.

We believe that our industrial de- The

Company

remarkable Gramophone

statement was velopment will result in, a subsonal causes, it has helped to con- (HL.M.Y.) and

recently Columbia made

by Mr. S. G. stantial rise in the general firm the impression that the worst Graphophone Company will retain Bron, the Soviet trade representa standard of living and an increase of the stump is over.

Unemployment their separate entities when the tive in Britain, when speaking at in the demand for every kind of

in industries £17,000,000 merger is completed. a meeting held by the Russo-product, and therefore the im-catering for Home consumption

und the The familiar 11.M.V. and Colum-British Chamber

portance of Russia as a customer bia gramophones will still be pro-Irving Hall, Bush House. He said of foreign countries will increase price level has shown some signa duced in the factories of the two that the International Chamber of from the year to year. The iden recovery-British Wireless Ser-

the Commerce has addressed the fol that the firat Five-year Plan is a companies, and, publie is concerned, the new finan- towing three questions to the danger to the economic develop-!

no National Committee affiliated with ment and stability of the rest of cial amalgamation. will

it in each country: immediate effect.

As a result of the economies in working which the merger will eventually make passible, however, finer quality cheaper and products are prophesied.

even

sa far as

have

Goodwill Preserved. Mr. Alfred Clark, chairman and managing director of H.M.V., dis- cussing the merger said:

1-Are you willing to supply detailed information concerning your imports from Russia?

the world is due to exaggerated fears and a nightmare philosophy."

Mr. Bron anid that he was sur- prised when in Moscow to find how 2.Would your country agree to

many representatives, of British concerted international restriction

firms were there negotiating and of credit granted to Russia?

concluding contracts. He mention- 3. Are you willing to discussed that an important contract of in contact with other countries a joint international prohibition Di imports from Russia?

Mr. Bron read this from a docu-

ment which appeared to be a copy of a circular sent out by a cham-' her of commerce in this country,

whose name was not announced by hlm, inviting the opinions of its members upon thess points.

vice.

PIECE GOODS.

"DEALERS MAKING USEFUL PROFITS."

The reports and prices are pub- as supplied by importers, the General Chamber of Com. merce dannot accept responsibility for the accuracy thereof:-

over £1,000,000 was, on the pointhed of being concluded with the Asso- ciation of British Machine Tool Manufacturers.

Textile Imports.

Mr Y. D. Yansan, chairman of

Cofton Piece Goods and

1

"One important point is that the good will of both companies will be preserved. They are much too valuable to be destroyed or even

Fancy Colton Goods. to be tampered with.

There has been small enquiry "Each company has its own good

Arcos, said protests had been made for dyed cottons for July/August name, and its own high reputation

against the importation of textile shipment but buyers' iden of prices goods from Russia, bat these only. and these must be preserved.

is considerably below replacing £20,000, and

were cost. At this meeting Mr. Bron and amounted to

on Deliveries continue "By combining their facilities in

and sold manufacture and research, an un-other officials of the Russian Trado, handicraft work

na healthy acale and the dealers stil! elaborately special objects of art. This factor appear to be making useful pro- made doubtedly better product will be Organisation

about fits. was ignored in the talk given to the public in the future. documented replies to the attacks

Economies.

that had been made upon Russian dumping. "Considerable economies will re-trade methods-relating to the sult in production, but it is very dumping of wheat, the conditions difficult at the present stage to of the timber industry, and so on estimate just what those will be.

"Increased manufacturing facili. ties will obviously decrease coats,

reduced

Subscribed Capital ... $25,000,000.00 and the money thus saved can be

$24,710,200.00 Paid-Up Capital Reserve Funda ..... .$ 3,820,503.82

HEAD OFFICE: SHANGHAI

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

די

dealt with either by a prien or increased quality."

Mr. Louis Sterling, managing director of the Columbia Company,

sald:

"We shall go on manufacturing our own products just the same and competing as we do now, but Owing to our numerous branches in We might adopt some method which China and large connections in the im- we think better for the other com- portant commercial centres of the pany, and they might Introduce world, we are able to extend to our some method of process which we clients special facilities for domestic use. and foreign banking and exchanges.

7

Mr. H. E. Metcalf presided, and said that the U.S.S.R. was the largest potential buyer of light and heavy engineering and many other products which Britain could sup ply. One of the chief difficulties they had to contend with in sell Ing their goods to Russia was the campaign against Anglo-Soviet trade which was going on actively throughout the country.

No Slave Labour.

Mr. Zhernakov, in the course of a detailed account of the wheat

situation, argued that Russia was now only attempting to reach the same place in the grain trade that she held in pre-war times. Canada, the Argentine, the United States,

Russia were Australia, and suffering from the low price, and all competing with each were other, but only, Russia was accused of dumping.

The latest quotations to hand are those of the 30th instant:-

Middling American Spot 5.53d. Egyn. Sakel. FGF Spot 8,200. Woollens,

There has been general enquiry since our last report and appre- ciable business has been booked all although considerably more than the usual proportion is still being placed on

new qualities rather than repeat cloths.

of

There has been

little more en- one or two

Mr. G. M. Goraki, chairman of quiry for yarn, and the Russian Wood Agency, dealt very cheap sales are reported. with the alleged dumping

The prices for "Tops" show a timber, and said that Russian decline of 1⁄4d. per Ib. all round wood has always occupied an im-nguinst the prices quoted a week ago, and 1⁄2d. to %d. against those portant place in the British timber

still given in the last report, market, and the export was considerably less than before the war.

Mr. Bran, who has just returned from Moscow, replied to the ac casation of dumping. The present state of the market had resulted in a general lowering of prices which We also handle the issue of Bonds Considerable new developments had affected all importers into and other Public Funds of the Chin- will be made possible by this Great Britain, and in most cases ese Government both at home

reduction and means-in the radio-gramophone the initiators in this

The Lunenburg Foundry Con- Russia, pany, Limited, reported at its an- abroad.

side of the industry, for instance. were the competitors of

Another accusation was that tim nual meeting, that the sales for Passing It On. "Radio-gramophones are far too bor was being prepared by the 1930, in spite of prevailing condi- Theretions, were the largest in the hia- expensive now, but the industry is slave labour of prisoners.

The com

SHOU J. CHEN,

Manager. Hong Kong, 6th March, 1031.

!

in its infancy, and in time these was no slave labour employed in tory of the company. Instruments will be

Timber put on the the Soviet Union.

was pany has been operating for forty

THE BANK OF CANTON, LTD. market at a far cheaper price. prepared by workers who were years, specialising in marine work,

"Economies which will be pos- hired.on a collective agreement | marine engines, etc.

Established 1912,

Head Olies-Hong Kong.

Authorised Capital (ILE. Currenoy) @11,000,000 Paid-up Capital

2,085,600 1,100,000

BRANOLLE

Bastos, Shanghel, Isaker, Barstow, Bangkok, New York and Ban Francisco.

CORRESPONDENTS

LONDON BANKERS 1--

The Lloyd's Bank, Limlled.

in all principal cftine of the World. Foreign exchange and banking business of very description transacted,

Bais Deposit Beros (vartota alvos) si a pourly evolal of brom 15 to $48.

Rosser Pund

U.S.$6,000.000 U.S.$1,572,454 .U.S.$1,908,209

BRANCHES:-

Anataedam Antworp

Alana

Glenda Glasgow Havana

Duals

Berlin

Bla!

Bombay

Breman

Drussia

Bu Alre Liverpool

Caira

Calita CLODG Colombo

Hamburg Havza Intelakan Jeruzalazz

London

Lunaine Lugano ListFor MarnalDon Monte Carlo Bankin

Floa Naple P1:24 Paris Геларе

Faking

Conalepticople Copertagers Edinburgh

Flarence GAY

Munich Son tres Min

Palatino Betterdam Bome Bambou! Fhanghal Southampto bgapore

4. Morli Tietile Viąca

Tokobama Zurich

Branches of Americas Expres Company in Principal cities of Unit ed States of America and Canada.

All classes of Commercial Banking Transactions undertaken.

Personal Investment baudled.

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

THE BANK OF EAST

Established 1918.

HEAD OFFICE:

C. H. BENSON, '

General Manager.

ASIA, LTD.

10, Des Voeux Road, Central,

. TONG KONG.

'Capital and forplas

Total ResoureDS'

aver H3 8,000,000.00 over H$80,000,000.00

Every, description of Banking and Exchange business transseted.

Current and Fized Depoalt Accounts in local and for- alga correxeles opened for clients

Savings Account, and Safe Deposit Boxes. Branches; and Agencies all over the world.

KAN TONG PO,

Chief Manager.

LOOK POONG SHAN,

Chief Manager.

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

HEAD OFFICE:-Taipeh, Formosa,

Incorporated by Special Imperial Charter, 1899.

sible will undoubtedly eventually be passed on to the public.

"Both companies have factorles in perhaps 30 foreign countries, built there because of tariffs, and some of them are small and un- economical. They might perhaps work under one roof instead, and yet compete with one another."

Animated dealing in the shares of the two companies fallowed the announcement of the long-awaited merger terms.

Prices, contrary to the hopes of speculators, took a sharp fail. Dealers had anticipated a concert. ed rush of selling by marking prices down from the start.

Intense Activity. Columbias, which were quoted at Gls. 3d. overnight, opened at 5ɓa.. and

568. were H.M.V., which 101⁄2d., started at 52s. 6d. This measure deterred many sollers, and after half an hour of Intense ac- Lagi, Karenko, Keelung, tivity, with prices changing every Makoos, Hanic, Brinchis, Tricks, Isinan, minute, excitement 'died down and Takso, Zamani, Toen, Halio, Talk, CHINA - Changhai, Bankow Amoy, Toochow business ran on

Swalow, Canton

normal lines, OTHERS-Kong Kong, Singaporn, Bobeys, prices showing some recovery.

Sambay Bemarang, Delcija, Loudon, New York, Dairan.

"Until the speculators have LONDON BANKERS:

cleared up their accounts," said a broker to-day, "the true market opinion of the merger will not be reflected in prices."

Central Bank in Formens. Bank-Noies issued Average amount Yes. 65,000,000 DRANCHES AND AGENCIES, JAPAN :-Tokyo, Tokohama, Hobe, Oska

Calculta,

The London County Wasiminster and Parr's Bank,

The Bank has Correspondenta iz sll the principal Commsarial Centres skroughout the world.

K. NAGURA.

Жиласие.

HONG KONG BRANCH:

B, Dee. Via Bond Central. Hong Kong, IN January, 1100

The difference in market price in favour of Columbia is due to the fact that the company's hold- ing of shares of Columbia Phono-

· PRENTOERKATANEALES |||||£££T158_RE|||||||4|22||||| graph Co. of America is to be dia-

COASTWISE

by

* ALGIE” BENNETT.

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

PRICE $1.00.

Now on sale at

BREWERS WHITEAWAY, LAIDLAW

EXCELSIOR BOOK STORE.

and at the Publishers.

tributed to shareholders before the merger takes effect. The market's estimate on current prices is that (it will be valued at around 45. or

58. a share.

The report of butter and cheese production in Quebec, Province during 1980 shows an increase in the butter output of 4,577,688 pounds and a decrease in cheese of-,1,283,786 pounds as compared with 1029. The butter · output totalled 62,145,851 and 'that of cheese $3,874,035 pounds. Tho number of cows supplying the raw material for these products was | 699,722 in 1930, this number being 37,695 more than the year before.

The Holstein' Friesian:„Associa- tion had received an order, for flya

young Holstein balls for British

The Newspaper Enterprise, Ltd. Chhin Mail Building,

Gulana, for foundation stock. The shipment will be under the super- 1}}}}}|{}{}£} vision of H. J. Kennedy of South-

port, P.E.I

The demand for strong Canadian flours has increased somewhat in the area served by the Bristol Channel porta-from 7,585 tona in 1929 to 11,416 tons in 1950, and In view of the general conditions pre- vailing this is satisfactory, writes Douglas S. Cole, Canadian Trade Commissioner at Bristol, in the Commercial Intelligence Journal.

Don'ts for Motorists

Don't say goodbye before you've started your engine.-

and

DON T

FORGET YOUR

CAPSTAN

L