1931-05-08 — Page 2

THE CHINA MAIL.

BANK S

HONG KONG AND SHANGHAI BANKING CORPORATION.

suthorized Capital

150,000,000

fecond and Pully Paid-up ... $90,000,000 farve Fundaz

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1881.

HEAD OFFICE: LONDON.

THE HO HONG BANK, LTD.

(Established 1917.)

Sterling

Hirst...........

£6,500,000 $18,000,000

Hasorve Liability of Proprietors ... $30,000,000

HEAD OFFICE: HONG KONG,

Dapaty Chairwau.

Well, E.

▲ 1. Compton. Erg.

Paid-up Capital Reserve Fund Reserve Liability of Pro-

prietors

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

Authorised Capital Straits $20,000,000 £3,000,000 Innued Capital £4,000,000 | Pald-up Capital

8,000,000

4,000,000

£3,000,000

Reserve Liabilities of Shareholders Surplus

4,000,000

Agencies and Branches:

ALDR STAÐ

KUALA LUMPUR

(Malay Biolo

АМНЕТНАЯ

KUCHING

MADRAS

MANILA

MEDAN

BOARD OF DIRECTORS ;~~ I. Mr. C. O, S. Machia, Chairman.

on. Mr. J. J. Paterno,

T. Un Parra, Em

LA. Tumtner. Eaq.

11. Lander Lawin, Esq. T. (1. R. Khaw, Saq-

. Mukio, Ex.

.. Warms,

Chiat Manager.

V. M. Orayburn. Eaq.

ANCHES:-

LONDON

BANGKOR

BATAVIA

BUM DAY

CALCUTTA CANTON CAWNPORE CEBU

COLOMBO

DAINEN (Doiny

Houth Nenektarfs)

DELI

HALPHOND

HADURG

HANKOW

(N. Mabura)

HONG KONG

NEW YORK

PEKING

PERANG

RANGOON

SOUNA BAYA

TAVOY

TIENTSIN

TOKYO

AB02

DANOKOW BATAVIA

BOMBAY

CALCUTTA

aq.

ADIBIN

BEREMBAN

BAIGOR

BEMARANO

SHANGHAI

SINGAPORE

TAIPING (7.M.B.)

TRINGTAO

УОКОБАМА

LYONS

MALACCA

ILOILO

MANULA

TONORAH (Bbaket)

MUAB (Jobs)

KATACHI

CANTON

MORDEN

ILANG

ROBK

ZAMBOANOA

CHEPUO

NEW TUNE

KUALA KANGBAN

(Philippine falanda)

COLOMBO

PEIPIKO

(Perak P.M.A.1 Foreign

Exchange

and

General

DAIREN Foodio HAIPONG TIAMBUN

HANROW ELARSEN

PENANG RANDON

SAIGON

SAN FRANCISO-

SHANCIAL

SINGAPORE.

BOSAKEW

ELOBO

SOURADA YA SUNOEI PATANT THESTHIN

104IORE

AALIE

THISUTAU

YOKOHAMA

KOWLOON

KUALA LUMPUR

Current Account opened in Loval Quesery and Find Deposita incelted Ear sbartez parindam Local Cucranes mod Harling which will be quoted on application.

200g Kong, 21 February, 1931,

HONG KONG SAVINGS BANK.

The Rusinres of the shore Hauk W rondur?- by the HOND KOSO AND KHANUHAT BANKING CORPORATION. Bules may be oktabriad on application.

FOR THE HONORONG AND SHANGHAT BANKING CORPORATION.

V. M. GRAYUAN,

Tong Rong. 16th July, 1950.

Chief Managar,

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 Frs.102,000,000.00 Reserve Funds

BRANCHES: Bangkok Hong Kong Quinhen Battambang Bur Cantho

Canton

Djibouti

Saigon Mengtze Shanghai Nam Dinh Sinkapore Neumea Peking

Haiphong

Thanher Tientsin Touranc

Fort-Bayard Papeete

Hanui

Yunnanfu

Hankow Phan-Penh Vinh

Pondicherry 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.; Complair National d'Escompte de Paris; Credit Lyonnais.

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

[

Current Ac.

Interest ullowed on counts and Fixed Deposits according

to arrangements.

Every description of Banking and Exchange Business transacted.

Safe Deposit Boxes to let.

A. LECOT,

Banking business transacted.

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

A. H. FERGUSON,

Manager. long Kang, 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

BELGIUM

BRAZIL

CHILE

CHINA COLOMBIA GUBA

LONDON

MEXICO

PANAMA

PERU

ZHILIPPINE

ISLANDS

PORTO RICO

DOMINICAN

STRAITS

REPUBLIC

SETTLEMENTS

INDIA ITALY

VENEZUELA

JAPAN

URUGUAY

Commerce and

Finance

DEFINITE SIGNS OF IMPROVEMENT.

2.520,000 Encouraging Outlook of

New York Bank.

Branches, Agencios and Correspon. dents in the principal cities of the world,

Every description of Banking and Exchange business transacted.

TAN ENG H001,

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(N2TDERLANDS TRADING BOCIETY:- BANKENA.

U.S. BUSINESS BETTER.

ness situation."

ed States.

FRIDAY, MAY 8, 1931.

TRADE OF COLONY. TURKISH TOBACCO.

MERCHANDISE IMPORTED DURING YEAR.

COMPARATIVE TABLE.

Comparative table of volume of commodities imported use, from the automotive trade, specified though trade roviews comment on into Hong Kong during the 1st an encouraging adversity of small Quartera of 1925 and 1931:- orders from different sources. While prospects in most steel consuming

ines, with the notable exception of

Building Materials,

1st Qr.

1925

1st Qr.

602,496

63.832

68,759

1931.

STRONG RUSSIAN AND FAR EAST COMPETITION.

TRADE WIPED OUT.

Turkey is suffering in many ways from the increase of the Ras- sian export trade, writes the Con- stantinople correspondent of the Manchester Guardian. The whole of the commercial and industrial activity in connection with her eastern provinces, which border 7.236.204 upon Russia, has been virtually

787,122 2,374,027 wiped out in the past year. The 926,043 market for manufactured cloths and other goods has been swamp- ed by the entry of Soviet products Into those regions. Hero Turkish producers of cement are clamour- Protectionist 92,563 ing for

measurea against Russian cement, which is their fac- driving them to close 377,124 tories, in spite of the fact that 182,187 building was never so active us 435,394 now.

4.420 88,143

Flours...

339,114 350,634 5,873,301

2,075,850

If a m

484,408 737,950 9,550

18.354

pipe, appear rather uncertain at the Bricks and Tiles

pieces 1,174.885 moment, the trude, continues gen-Cement ...pleuls erally optimistic in a conservative Glass.sq. ft. 1,218,896 way, believing that at least the turn Timber ..cu. ft 1,154,741 has come. Although prices of stec!: "The past month has witnessed serap and of pig iron have shown Acids....piculs

Chemicals & Drugs.

4,027 Manager further improvement in the busi-further decline, finished steel has Others

...picula been steady, with talk of possible

Totni piculs With those encouraging words, early advances, should demand con- the National City Bank of Newtinue to improve. Blowing in of 7 Total.....picule

Dyeing & Tanning Materials.

38,028 40,511 York commences its March review blast furnaces during January, and

Foodstuffs. of economic conditions in the Unit- more in February, were tangible in Beans....pleuls 170,000

dications of confidence among steel Fish

.....picuis piculs Sentiment, that intangible but leaders in the character of the up- Cercals

pieuls highly important factor in business turn.

Bacons, recovery, has been decidedly more

Perhaps the most pronounced Beef, Matton cheerful, the review goes on. That signs of improvement have come

1ba Sugar the action of the atock market is

•picals from the cotton textile industry,

...picula an excellent demand for Potatoes..piculs responsible in no small degree for where the improvement in sentiment is goods has developed within recent Dried Vegetables unquestionably true. Although the weeks. In part the gain is seasonal, record of the market as a prophet and in part caused by the firmer BHA NOURS - Deadjamais. Bandosas, Boobay of business has not been very im- tendency of raw cotton which has

Calcutta, Oberibon, Djember, Djok Jakarta" The Engis", fali, Kiss, pressive over the past year or more, lessened fears of further price de- Kote-Badja, Makasar, Medan, Padana nevertheless stocks still hold clines. A more fundamental cause, Palembang.

Prkelongso, Panang Pontianak Baugnoo Bordam paramount place among business in however, is the fact that the in- Con Samara Shanghat, Bibolg (Roma).

Roubal dexed, and with the wide distribu-dustry Ringapore,

has been Adhering to A Swarakarta (Bolo, Tags, Tillalon and tion of stock ownership that now sounder policy as regards produc- Brass Weltevreden.

exists thousands of persons tion, which means keeping output in Copper pleuts throughout the country feel richer line with demand. According to a Iron & Steel or poorer according to their flue report of the New York Association Tin Plates piculs picula of Cotton Textile Merchants, ship-Tin Slabs, etc. ments during 1930 of standard cot-

piculs

Establiabed 1834.

Kong Kong Odos:-11, Queen'e Hood Cenwu).

Authorland Capital Culiders 180,000,000- 1,600,000.1 Paid-Up Capita!

Quilder 20,080,000 (£6,000,170) Meterss Fund - Quildare” 44,015,000 (20,634,600)

Head Quan:-AMSTERDAM' Raslan Hand OM>:—BATAVIA.

• These oflove kara sala deposit boɛse to lak, London Baskaru :-National Provincie! Bank Ltd. Correspondents all over the world Banking business of story

description transacted.

A. STOKKINE.

Onions

Fuels.

But the most

important crisis in Turkish trade due to the new

643,592 Russian competition is the tobacco 1,684,734 crisis. This is

4,380 staple products, 5,591 markets means

one of Turkey's

and the loss of

a diminution in

piculs 10,950 74,905 the national prosperity. But in the past years two of the most Total piculs 7,527.855 5,720,174 valuable markets for. Turkish to- Total iba. 484,408 643,692

baccos, Germany and Egypt, have Charcoal,piculs

The rival in the been captured. 33,861 G ...tony 246,152 151,444 former country is Soviet Russin, 129,071 527.830 which has thrown vast quantities Firewood picnls

Metals & Manufactures.

of the new Soviet grown "Mory- ....picula 6,219. 10,315

tobacco on the German 1,766 kap"

market at the derisory price of 30 506,889 plastres a kilogram, or about five. 35.677 peace a pound. The consequence is that Turkish imports of tobacco Into Germany have fallen from 4,080 6,000,000 kilos to 3,000,000 kilos. 20,236

2,600

319,623

54,010

tuations.

Acting Manager.

The Recovery of Busines

57,299

42,203

Hong Kong. 18th August, 1085.

THE BANK OF CHINA.

行銀國中

of course is inevitable at this sea- January of this year, sales were 18

The business recovery has pro- ton cloths were in excess of pro- Lead piculs

Zine for the first year since ceeded unevenly, as was to be ex-duction

Other ....pleuls pected at this stage, but neverthe-1926, while stocks on hand were re- During less encouragingly. Some upturn, duced by 21 per cent.

12,407

10,065

piculs

3,257

2,52%

Total piculs

457,938

721,044

Manures.

ernment as art

INTERNATIONAL EXCHANGE

BANK.

son, and has to be allowed for in per cent in excess of production, and Sulphate of Am- judging the trend, and it is not yet shipments 4 per cent in excess of

clear that the gain in production production. As a result of this. Total

has been of more than seasonal pro- elimination

The

2,714

172,508 45,685

Total picula 218,263

Oils & Fats,

The situation is not less seri- nus for Turkish tobacco in Egypt where it was used to blend Egyp fian' cigarettes. Here the rival is monia ..piculs. 46,963 386,359 Far East tobacco from China and

Minerals & Ores. .....piculs

Japan. Chinese tobacco furnishes 85,745 of overproduction.

Nuts & Seeds.

an average of 1,200 to 1,300 Reorganised October 25, 1928, under portions.

.picula Some of the various in-stocks of goods have been kept low Nuts

107,410 cigarettes per kilo, whereas 37.235 Turkish tobacco furnishes only special charter of The National Gov-dexes that are computed currently enough to stablish confidence in the Seeds....piculs

1,000 cigarettes for the same to show business after allowance industry and render it sensitive to

144,046 for the seasonal factor, showed ajany improvement in demand.

weight. Since Egyptian duties on further slight decline in January, failure of prices to improve, how-Petro! Imp. gal. 996,102 1,417,820 imported tobacco are particularly Subscribed Capital...$25,000,000.00 while others udvanced.

high now, the manufacturers One does ever, continues an unsatisfactory Kerosene

Imp.gal 12,087,082 9,016,938 naturally .....$24,710,200.00

prefer the tobacco Paid-Up Capital

not expect complete agreement in feature, emphasizing the continued Others

...piculs 137,492 178,496 Reserve, Funds Current accounts

...$ 3,820,503.82 these indexes, since they are com- need for restraint upon over-rapid

which gives the largest, quantity Plece Gooda, With a Cottons

,plecca puted independently and usually in-expansion of production.

273,910 443,870 of cigarettes, even apart from the for over-production,| clude different commodities, but the large capacity

yards 32,424,104 43,040,101 excellent quality which the Chin- Woollen Blankets fact that for the first time in many the cotton industry is by no means

esa and Japanese tobacco are pro- Iba, 226,534 563,300 viding. months there was a good repre-out of the wouds, and it remains yet Silk Piece Goods sentation of gains suggest that the to be seen what permanent success

2,015 3,055 The consequence of these lost, ur partially lost, markets is that general decline has at least been the industry will have in coping Cotton Yards

The most hope-

8,380,700 6,131,585 a number of big Turkish tobacco checked, which is the first step to- with its problems.

ful feature has been the proposal to Motor Cars, the wards recovery.

Lorries, etc..

Commercial and Travellers' Lotters of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers bought and sold. 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- tomera the services of the Branches of the International Banking Corpora tion in San Francisco and Spain and also of The National City Bank of in Paris New York (France), J.A., and Nica.

F. McD. COURTNEY,

Manager. Hong Kong, 20th February, 1981.

THE AMERICAN EXPRESS COMPANY.

INC.

Head Office: 65, Broadway, New York.

Capital

Manager.

Surplus Resorves

Hong Kong. 1st May, 1920.

THE YOKOHAMA SPECIE BANK,

LIMITED.

Established 1830.

Capital (fully paid-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

Dairen (Dalny)

Hamburg

Hankow

Menila Nagasaki Nagoya

Newchwang

New York Osaka

Peiping Rangoon Fengtien (Mukden) Rio de Janeiro

San Francisco Seattle Semarang Shanghai Shimonoseli Singapore

Harbin

Hong Kong

Honolulu

Kai Yuen

Karachi

Kobe

London

Los Angeles

Lyons

Singa

Sourabaya Sydney Tientsin Tokyo Tsingtau Interest allowed on Current Ac- counts.

Deposite received for fixed periods at rates to be obtained on application.

H. MORI,

Manager., Hong Kong, 11th April, 1981.

po مجانا

HEAD OFFICE: SHANGHAL

HONG KONG BRANCH:

4, Queen's Road Centrai,

For more than a year production eliminate night employment of wo has been declining, and during the men and minors, which practically

piculs

Iba.

Vehicles,

Nos.

160

Nos,

NOR

Bry

Sundries,

Owing to our numerous, branches in China and large connections in the im- portant commercial centres of 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 past six months the curtailment in means the elimination of the night Motor Cycles.. and other Public Funds of the Chin-output has been very great. While running that has been the principal ese Government both at home

and it is true that consumption, too, has cause of overproduction during re- Gunnies abroad.

to the depression, cent years. Seventy-five per cent. of Flasks...Nos. fallen off, due SHOU J. CHEN,

decrease has not been the culton mills in the United Hides & Skins Manager, the Hong Kong, 5th March, 1931. as great да that of production. States, including 70 per cent of the

Leathers (Sole) Hence, it was inevitable that aooner night runners, have announced their

must come when endorsement of the single shift] Chinese Paper For later a time current stocks of merchandise in an policy, with final adoption contin- increasing number of lines would gent upon the endorsement of become exhausted and production additional 5 per cent of the night later than March 1. have to be speeded up again to take runners not care of current needs.

THE BANK OF CANTON, LTD. Eatablished 1912.

Head Office:-Hong Kong.

Authorland Capital (H.E. Currency) $11,000,000 Pald-Up Capital

8,105,000 1,100,000

BRANCHES (

CORRESPONDENTS

LONDON BANKERS.—

are

The pick-up of industry witness- ed since the first of the year seems to be of this character. As might Canton, baanghal, Hankow, was, be expected, the indications of bet- Barker, New York and Bab #ramolcsterment have been more pronounced

in lines of industry which closest to the public and which produce commodities of every day uange that. being constantly worn out that replacements carnot Chlet Manager.postponed indefinitely.

.0.8.$6,000.000 U.S.$1,672,454 .U.S.$1,908,209

Rear Pand

BRANCHES:---

A4

Be

Nisa

Antar

Sumptu

Athens

Prev

taala

Parlia

Parla Tag

Biarri

king

Bombay

Braman

Rotterdam

Brass Besi Caro Cecyta

there Rambow!

Couame Colomba L'atatantinopis

Copenhagua Edinburgh Flors

Branches

Натова Flambura Mar Inverlaken Jaruzalem Chia Котивыка

Lucce Legion Lucar Harellies Moose Carle

Mnalle

Murich

Mostrar

$133

لمدام بيما

Southampton Megapara Si Keci Tuntals Vialna

Yokohama Zurich

Express of American Company In Principal cities of Unit ed States of America and Canada.

All classes of Commercial Banking

Transactions undertaken,

Personal investment

handled.

Afiliated with

accounts

THE CHASE NATIONAL BANK Resources ..Over G$2,500,000,000

The Lloyd's Bask, Limited.

In all principal cillas of the World.

Forsign sohage and baking busiassa of avery description transactad,

Safe Deposit Roxas (varioja stane) sa u yaariy rental of from 13 to 1940.

LOOK POONG SHAN,

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO.)

HEAD OFFICE:-Talpeb,, Formosa.

Incorporated by Special Imperial Charter, 1899.

1931.

an

In wool goods, too, conditions have shown betterment, reflecting low stocks, increased demand, and created by Improved sentiment firmer

wool prices. MI activity has been increasing.

Factors Limiting Recovery.

raw

firms are belog forced into bank- ruptcy, and those that are hold- 109 luz out are appealing to the State Tobacco Monopoly to take the stocks they cannot find an outlet for. Meanwhile the 3,432,285 8,597,446

Tobacco 220,121 137,756 Monopoly is searching desperately for new markets and is lamenting 15,106 the deterioration in world taste

pleuis

9.143

༣༠

picula

20,463

14,786

4,760

30,079

piculs 79,444

98,716 30.721

6,764

Old Newspaper

Rattans.piculs 45.630 Rubber Raw

plculs 2,011 Salt......picula 109,350 160,913

FRENCH FOREIGN TRADE. The French trade returns for the

firat

two months of the

current

year once more reveal the extent to

The situation of form products which France has become affected are and crude products generally, on by the world economic crisis.

AL

As compar

80 the other hand, is as yet no better. though there has been a slight re- be Farm products in the Bureau of covery in February as against Janu Labour index table declined 2.2 perary, both months show for exports The automobile industry is the cent in January, and the combined and Imports, the lowest figures for outstanding example of this, and figure was lower than at any time more than two years.

ed with the corresponding two) more than any other single indus- since January, 1912. Cotton Is try has been the moving force be one important product recently up months of 1980 the total exchanges hind the present recovery.

falling off of 4,093,- slightly on account of more en-

the couraging news about conditions in

000,000f.,

imports being down by 17% per Asia and increased mill activity in

Makang, Nanio, Skischiku, Taiku, Talman, duction for __Takao," "Tampel, Toom. Hatto, Triki OHINA:-Shanghai," Hankov, kony

Bak, anion. OTEKES THAT Long. Blogapore, Exteria, Bombay Landon, New York Daire

LONDON BANKEZS,

Commercial Cantina throughout world,

K. MAGURI.

4, Du Vœux Bosd Canisi. Hong Kong. 10th January, 1999

Manager.

have induced a number of the pro-

show

at Bureau

It never Woa

a

has fallen by 30 per cent.

cent.

corres.

The

raw material de-

November proved to be the low month for automobile production, the total output falling to 136,762 this country, but the stock in this and the exports by 81 per cent. units, the lowest for that month country at the end of January is There is a decline in the imports of since 1925. During December pro- estimated by the New York Cotton raw material to the extent of 60 per

cent. compared with the duction moved against the usual Exchange Statistcal Central Bank in Formosa, Beak-Notes sisued Arsenge amount „Yan 5.000,006 seasonal trend, increasing 155-11,700,000 bales, which is not much ponding period of last year, while

BRANCHES AND AGENCIES

706, as several large manufacturers short of what this full year's con- the export of manufactured goods The Company offers to Intending JAPAN:-Tokyo, Tokohama, Loba, Osam. Along began earlier than usual their pro-sumption will be. Travellers the use of its "Travelers | FORMOSA :—Lilan. Larques" and Letters of Credit and,

the Spring campaign. more apparent that the South should only increase is in the Importation In addition, the world-wide services |

Fohow, January production showed a fur grow its own food and feed, but of a disappointing harvest. of its thoroughly equipped Travel Da-

The diminution of French foreign Bobrther increase to 171,903. However, that has been urged so long that partment.

Calot the important thing is not so much there is little reason to expect any trade during these two months was the number of cars produced, but great change will be accomplished not confined to money values alone. The London County Waltloser and Tarr's Bank rather the sales to the consumer, in one year.

The acreage in cotton but is also seen in the quantities of The Task has Corma ondanks to all the artaped While it is still too early to get any should be reduced, but there is the goods exchanged. Whereas the im-

adequate measure of Spring buying, question as to what else shall be port tonnage of reports on sales during the past few grown or what else but farming the clined by 15 per cent., the export weeks have been encouraging, and cotton-grower can do for a living. tonnage of manufactured articles The acreage of the Winter wheat fell by 28% per cent. The results ducers to advance their output crop in Russia is reported by the are deemed all the more disappoint- schedules mora rapidly than previCommissariat of Agriculture as 19ing since it is usual to expect a large ously anticipated. This improve per cent, above that of last year. seasonal riss in February. The sola ment has in the natural course been This, however, need not be taken consolation the French business passed down to the various supply as signifying that the yield will be world can derive from the result is industries, automotive accessories, correspondingly larger, for last that industrial importers steel, tyres, etc., and through them year's yield per acre was excep- material are able to take some ad- to various other subsidiary Indus- tionally large. Nevertheless, the vantage of the decline in world tries along the line, illustrating how prospective carry-over of wheat out-market prices.. business recovery becomes cumula- aide of Russia on July 1 next is so tive once it gota under, way. large that the outlook for a better! The value of building permits Other Indications of Improvement, price must be considered dubious. Issued by the several building, de- Steel mill operations have con- The July option, Chicago, is selling partments of Greater Vancouver for tinued to expand slowly and at the at about 67 cents, or approximately the first two months of 1981 shows end of February, were at about 5210 cents per bushel under the Mayan Increase of $1,847,611. above per cent, of capacity, compared with option, which is better than two the total for the corresponding 24 during the low week of Decem- months ago, but indicate little ex-period of 1930. The 1931 total ta steel production amounting bér. For the month of January pectation that the Farm Board will | 63,683,169.

to support the price of the next crop. 2,488,200 tons made a normal sex- The present outlook for the Wister

HONG KONG DELNOR)

C. II. BENSON,

General Manager.

THE

BANK

K OF EAST ASIA, LTD.

· Established 1918.

HEAD OFFICE:

10. Des Voeux Road, Central, TONG TONG

Capital and Surplus.

Total BesourCES,

over, HL$ 8,000,000,00

over 31.$80,000,000.00

Every description, of Banking and Exchange business transacted.

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

Savings Account and Safe Deposit Boxes.. Branches and Arencies all over the world

KAN TONG PO,"

Chief Manage

OUR

LADIES' TAILORING

DEPARTMENT

undertakes to `execute' orders

FOR MAKING DRESSES &

GOWNS on latest styles with-

in 16 hours.

}

LOVELY SILK STORE

of raw

Na. 2 Stanley Street. Tel. 22100.sonal gain over December, which crop fa favourable, if B, good yield cording to Nat Murray's record,

(Adjoining „D'Agullar. Biroet.)

will be remembered, however, was is something to be desired Wheat is the lowest price since 1594, and the lowest mouth since 1921. Most was sold recently in Britain as low indicates that there is almost no of the impetus in atzel comen, of sa 60 cents per bushel, which speculative Interest in the grain.

which accepts tobaccos which can never give a fine aroma.

For great courage, initiative, and determination in pursuing two men whom he knew to be armed, resulting in his own death at their hands, the Police Distinguished Conduct Medal, Class 2, has been awarded posthumously to C.P.C. 2124, Nich Tien-yung, Shanghal. He was killed on April 10 while the would-be kidnappers of a Chin- eso ten magnate were endeavour- ing to escape.

THE EMPTY CHAIR !

IS IT YOURS?

"Absent again with another of Ma bilious attacks. Da- cause he does not know how

to look after his health, work gets behind and the business- Bufori."

Has this conversation ever occurred, whilst YOU mnt at home with an aching stomach and throbbing head? Int these diealt times it is every man's duty to his employer to keep himself as fit as he can. Keep yourself in good tar, mentally and physically, with

PINKETTES

By cleansing the intestines, toning up the liver and in ternal organs, theyɛ ensure freedom from billons, attacke; from constipation and liver b- ness.

Non-griping, gentle, 794 certain and effective, they we truly

Liver and Laxativa. Perfection.