1931-05-15 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorivad Capital

$30.002.000

Issued and Fully Paid-up $20,000,000 Bare Funda

Starling.........

Shree

£1,100,000 $10,000.000

Wear Tiability of Propriators #30,9X3,000 HEAD OFFICE: BOSO KONG.

WIRD OF DIRECTORA:-

Hon. Mr. C. G. R. Mackie. Chairman.

Hon. Mr. F. J. Pataraðu,,

Deputy Chairman.

W. 11. Dall. Esq. 7. E. 'eatre. E

A. 11. Congo khi d. A. Plusamar,

g

B. Inder Lawis. Exp. T. H. R. Sham, Eng.

13. Mihin. Eng.

J., Wan, Esa.

Chial Navegar.

V. M. Dengburn, Yag-

BRANCHES—

LONDON.

LYONS

STALACCA

VANILA

BAR (Taw

MURDER

DAYDRON BATAVIA

BOMBAY

CALCETI

CHEYOU

COLOMBO

NEW YORK

CANTOS

PEITING

PENANG

RANGDON

DAIRES POOCHOW

HAIPHONG

SAIGON

RAMBUR

SAN FRANCI

BANKOW

HARDIN

HANUKEW

ILOILO

HUR

JOHURE

NODE

KOWLOO

KUALA LUM

>>HANGULA

SINGAPURE

SURABAYA

St SUE PATANI THESISIN

702YO

TRENATA YOKOHAMA

Forest Arities, eposed in Local Costany And Fried vomile zemerad for one your ur abortar parada to Donal Gurramay mad Nepilng Du som which will be dated au mpplication. long hard 2 Fabrianty, 9.

HONG KONG SAVINGS BANK.

"

The wines of the above lack is conduci

by chin ONG 5050 AND SHANOMAL BANKING CORPORATION, Ruine u ba oblabor an application.

FOR THE HONGKONG AND SHANGHAI BANKISO COMODATION.

V. M. GNATHURN.

flog Kong. 18th July. 1930.

Culot Manager.

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 Reserve Funds ....Frs.102,000,000.00 Bangkok

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON, Paid-up Capital

£3,000,000 £4,000,000

Agencies and Branches:

Roserve Fund

Reserve Liability

of Pro-

prietors

.£3,000,000

ALOR STAR

KUALA LUMPRI

(Malay Blatna)

KUCHING

AMBITEAD

MADRAG

MANIGA

ANOROK BATAVIA

ПОМПАТ

CALCUTTA

CANTON

CAWNPORE

CEBU

COLOMBO

DAIREN (Dalay

Bouth Kaubarla)

DELI

HAIPHONG

(N. Manchurini

HAMBURG

HANKOW

HARDIN

HONG KONG

BOULO

КАПАСТУ

KANO

PROTE

KORE

KUALA KANGSAR

(Torah P.M.8.3

MEDAN

NEW YORK

PEKING

PENAXO BANCOON

SALOON

SEMARANG

SERERLAN

BHANGHAI

SINGAPORE

SOUNANAYA

TAIPING (P.M.B.) TAVOY

TIENTSIN

TOETO

TUNGKAR (Nbuket)

TSIKUTAO

YOKOHAMA

ZAMBOANGA

Foreign Exchange

(Pbilippine falande)

and General

Banking business transacted.

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

A. H. FERGUSON,

Manager.

Hong Kong, 8th January, 1920.

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

NEXICO

ZHILIPPINE

ISLANDS

PANAMA

CHILE

PERU

CHINA

COLOMBIA

CUBA

FORTO RICO

DOMINICAN INDIA ITALY JAPAN

STRAITS

REPUBLIC

SETTLEMENTS

VENEZUELA

URUGUAY

THE HO HONG BANK, LTD.

(Established 1917.)

THE CHINA MAIL.

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

Elabilities

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

8,000,000 Paid-up Capital

4,000,900 Reservo

11

4,000,000

2,620,000

of Shareholdera, Surplus

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

Every description of Banking and Exchange business transected.

',

TAN ENG HOOI,

Commerce and Finance

PUBLIC WORKS AND THE OUSTRIC BANK

EMPLOYMENT.

The Influence of the Trade Cycle.

The events of the past few years

INQUIRY.

Introduction of Snia

Viscosa.

FRIDAY, MAY 15, 1931.

RUBBER INDUSTRY.

CO-OPERATION BETWEEN BRITISH AND DUTCH.

BILL IN COMMONS.

London, Yesterday.

The need for co-operation be- tween the British and Dutch Gov- ermments with regard to the con- duct of the rubber industry was emphasised by Mr. J. G. Hay, the chairman, at the annual meeting of the Rubber Growers' Associa tion in London to-day.

Co-

He said there could be no effec- tive control without such operation, but "until authoritative and unqualified assurances are re-

Manager.have shown that the many efforts / AL. Moret, Governor of tho Bank of coived that the Dutch Government.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY:

DANKERS.

Established 1924.

Hay Kool Office1-17, Quma's Bond Castral. Authocinad Capital

Guildare 100,000,000- (£13,500,000.) Guilders 80,000,000 (£8,068,170) Culidere 40,015,300

Pald-Up Capital Reserve Fund

Head Offon —AMSTERDAM” Exalarn Bead Ofcm:-BATAVIA, BRANCHES – Bandartala, Bandowag", Dombay, Caleutia, Charbon, Dambar, Djak

jakarta, The Hague, Jeddah Robe, Kota-Nadja, Makamar, Medan, Padang Palembang. Pakalongan. Penang. Pontianak Baggoon. Botterdam Bamarang. Bangkal.

(Sumaire) Alagapoce Bourabula Howcatarie (Bulo), Tegal, Tilaap and Weltevreden.

• These allow hata safe deposit borse in Jal Cendra_Danker:-Naiingat Provincial Beak Lad. Correspondante all over the world Backlog business of avery description transoted.

A. STOKKINE,

Hong Kong, 191 August, 1990.

Manner.

THE BANK OF CHINA. 行銀國巾

Reorganised October 20, 1928, under

special charter of The National Gov. ernment as an

INTERNATIONAL EXCHANGE

It was revealed inst month, that

France, had witten a long letter which have been made to eliminate to M. Marin, chairman of the Paris prepared to consider legislation for the regulation of output and the influence of the trade cycle and liamentary Committee of Investiga is willing to control native pro- to do away with recurring periods, tlon into the Oustric and other of boom and depression have financial affairs, in which he takes proved unavalling, anys an article strong exception to the strictures we can reach a successful conclu- in the monthly review of Barclays made upon him by M. Buyat's offi Bank for April, entitled "Public cial report.

M. Moret. in his letter, which, Works and the Trade Cycle."

Committee with his consent, the

So long as human nature remains unchanged, a spell of excessive optimism, when production and ex- pansion are forced beyond their proper limits and tend to develop into over-speculation, is likely to be followed by a period of reaction, during which the pendulum is apt to swing as far the other way.

At the same time, the review ab- serves, it would be an admission of failure to adopt a fatalistic at- titude and to assume that because past efforts have not proved very successful, nothing can be done to

maintain the course of industry upon a more even keel. The cause of over-speculation and subsequent relapse is the failure to maintain the proper relationship between credit, production and consumption as well as between the world level of prices of commodities and the prevailing rates of wages for the time being.

•

duction, we can have no confident bellef that out of the negotiations

sion."

In the House of Commons, Mr. Hannon asked Mr. Ramsay Mac- has now published, says he could i Donald to give facilities for the not allow this report to go unchal passage of the Rubber Industry

agreed Bill, unged. He says he never sought Bill, which he described as an in any way to be appointed to the high position of Director-General of Public Funds. He did not know and had never met the Finance Minister who appointed him. From monetary standpoint, he points out, the appointment was not an advantage.

gave the whole of his time in the

For many months he (M. Moret) interest of the State at a particu- arly critical period when the cur rency was slumping. He had re- mained voluntarily poor, he adds, declining absolutely to take ad- ntage of the confidential in- formation that continually came to his knowledge and out of which be might have made large sums of

money.

Mr. MacDonald said he would like those interested to make re-.

Whip or himself. Presentations, either to the Chief

The B, which has already passed its second reading, provides for rubber research by a levy on manufacturers.—Router.

BANK RATE.

LOWEST AT HOME FOR 20 YEARS.

London, Yesterday. The Bank of England discount rate has been reduced to 2 per cent.

The rate is reduced from 3 per cent., at which Objections Waived Aside.

it has stood since He was so scrupulous that ha May 1 last year, and the new rate Systematic Policy Needed. did not even keep a private bank- Is the lowest touched for over The extreme fluctuations in trading account. He kept his account twenty years.

been The change had at the Treasury, and such invest-

widely ing activity during the past two or

City, following three years are directly attribut-ments as he was able to make were anticipated in the able to this lack of balance, and entirely in French Rentes. He con- last week's fall of the New York Subscribed Capital....$25,000,000.00 the absence of proper flexibility insidered it his duty at the critical Federal Reserve Bank rate. Commercial and Travellers' Letters

currency period to show his con- has, however, created a favourable ..$24,710,200.00 the industrial system, owing to the idence to State securities. Paid-Up Capital

impression. Reserve Funds .....

The opinion is that the bank

HEAD OFFICE: SHANGHAI.

of Credit, Travellers' Cheques, Blils of Exchange and Cablo Transfers BRANCHES:

Current accounts bought and sold. Hong Kong Quinhon

Shigon

and Savings Bank accounts opened and Fixed Deposits in local and for- Shanghai

at rates that eign currencies taken may be ascertained on application to the Bank.

Battambang lue Cartha

Canton

Nam bình singapore

Djibouti Nouméa

. Hankow Hanoi

Fort-Bayard Papeets Tientsin Haiphong Peking Tourane

From-Penh Vinh Pondicherry Yunnanfu BANKERS: IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays.Bes; Credit Industriel et Commercial; So- ciete Generale.

IN LONDON: The National Provia- cial & Union Bank of England, Ltd.; Comptoir National d'Escompte de Paria; Credit Lyonnais.

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

Ac.

Interest allowed on Current counts and Fixed Deposits according to arrangements,

Every description of Banking and Exchange Business transacted.

Safe Deposit Boxes to let.

A. LECOT,

Wo 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 of New York (France), SA, in Paris and Nico.

F. McD. COURTNEY,

Manager. Hong Kong, 20th February, 1931.

THE AMERICAN EXPRESS COMPANY,

INC.

Head Office: 65, Broadway. New York.

Managor.

Capital Surplus Reserves

Hong Kong, 1st May, 1929.

THE YOKOHAMA SPECIE BANK,

LIMITED.

Established 1880.

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

.Yen 115,000,000

Head Oflec:-YOKOHAMA,·

Branches and Agencies at:

Manila Nagasaki

Alexandria

Batavia

Berlin

Bombay

Calcutta

Canton

Changchun

Nagoya

Newchwang New York Osaka

Pelping Hangoun

Dairen (Dalny) Fengtion (Mukden) Rio de Janeiro Hamburg

Hankow Harbin

Hula

Kong Kai Yuen

Kobe

Karachi London

LON Angeles

Lyons

San Francisco Seattle Somarang Shangha Shimonoseki

Seerabaya Sydney Tientala Tokyo Tsingtau

Interest allowed on Current Ac- counts.

Deposits received for Szed periods at rates to be obtained on application.

.H. MORI.

Manager.

Hong Kong, 11th April, 1981.

.U.S.$6,000,000 .U.S.$1,572,454 .U.S.$1,008,209

BRANCHES:-

Amatardam

Gabon

Antwor Athens

tilasgow

Nice Nupton

Havale

Pieve

Darlin

Blactite

Dembay

Hamburg Law Interlake Jaruzalar Lido Londra

Falls

Pano

Tekla

Katterdam Heme

Видный

Brussels

Baras Aires

Calcu Calentia

Obre

Colombo Containopia

Liverpool Lureme Lugabo Luxor Marili Mats Carly

Manila

Munich

Mentus

Palermos

81-mbout

Shanghai Southampton Singapore 31. Marita Telein

Viezna

Vasude Yokohama Zurich

Copeshagen Ediscorgh Poxan #angra

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

All classes of Commercial Banking Transactions undertaken.

investment

BANK.

$ 3,820,503,82 rigidity in wages and other costs As for the Snio Viscosa affair,

of production, helps to prevent a rapid adjustment once equilibrium continues M. Moret, he had firmly has been disturbed.

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

Owing to our numerous branches in China and large connections in the im- portant commercial contres of the world, we are able to extend to our clients special facilities for domestle and foreign banking and exchanges,

We also handle the issue of Bonds and other Public Funds of the Chin ese Government both at home and

abroad.

Manager.

SHOU J. CHEN,

Hong Kong, 5th March, 1931.

opposed M. Peret, in spite of his friendship for him. Hitherto he had not revealed the private interviews he had with M. Peret as Finance

Minister because he had not con- aldered it incumbent on him to do

80.

He now said that in reply to all objections he made to the Finance Miniator, M. Peret had said, "Your

of objections are

technical

&

character. I recognise their value, but there are considerations of a

It

rate reduction will not affect trade, as the effective market rate has been about 24 per cent, for some time.

The reduction is regarded as Indicating that the Bank of England considers the present gold holdings of about £148,000,000 to be sufficient. British Wireless Service.

The

SILVER FUTURES.

New York, Yesterday. Board of the National

Another line of approach which should help towards greater stability in trade would seem to lie in the adoption of a systematic policy in the planning and carrying through of public works by the leading countries. In various countries efforts have been made from time to time jo reduce unem- ployment in periods, of depression by advancing the date for putting in hand certain public works.

higher order-political considera. ¦ Metal Exchange has approved a Most of these efforts. however, tions which I alone as Minister of proposal for trade in silver have been of a spáemodic charac-Finance am able to appreciate, and futures and a beginning is expect ter, and, on the whole, there has I must, therefore, waive your obed on June 15. been little evidence of systematic jections aside." advance planning and of the de- finite retarding of public works in could only bond to times of activity, with the object cision. of putting them in hand when tho volume of ordinary work is cur tailed. A large amount of in- 1,100,000 formation on the subject has re- Canton, Shanghai, Henkowalow,cently been accumulated by the Bago, Nework and bad Frand International Labour Office and

CUBRESPONDENTS

THE BANK OF CANTON, LTD. Established 1912,

flead Office:-Hong Kong,

Authorized Capital (1.K. Qurransy) $11,000,000 Paid-up Capital

8,665,000 Reserve Fund

BRANDES

LUNDON BANIZEN :—

The Lloyd's Bank, Kimika?

In all verb is a he went

Forviga lobange sod beaking business i

svery discripcion Transacted.

Hala Dapoli Bozan (radiosa disuse) as a poorly rental of from $5 10 $40.

LOOK POONG SHAN,

Chief Manager,

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

HEAD OFFICE:-Talpab, Formosa

Incorporated by Special Imperial Charter, 1899.

Becounts Bank Notes 22nd Average amount 4.500.000

published under the title of "Un- employment and Public Works," and the question is deserving of mare careful study than it has hitherto received.

in

Public works, in the sense which the term is here used in this article, are quite distinct from those undertakings usually de- signated as relief works, which are curried through mainly for the purpose of relieving unemploy- pent.

Strictly Commercial Basis. Public works comprise those orders for supplies or contracts Central Bank in Formosa,

for undertakings which, in normal BRANCHES AND AGENCIES I

circumstances, would be placed by JAPAN:—Tokyo, Tokubama, Koče, Omka,

Government and local authorities, FORMOSA

Tag, Karanika, The Company, offers to intending

Wakong, Nasio, Ebinchiko, Talsby, Tainan, as well as by such bodies as rail- Travellers the use of its "Travelers Takso," "Taiseni, Toan, Hatío, Talo. Cheques" and Letters of Credit and,CHINA hanghai Tisnow, Amey, Yosokaw, Ways and public utility corpora-

Personal handled,

in addition, the world-wide services of its thoroughly equipped Travel Da- partment.

1.

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

C. E. BENSON,

General Manager.

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Central. HONG FONG

- Capital and Surplus.

Total Resources.

över H.$ 8,000,000.00

aver H.$30,000,000.00

Every description of Banking and Exchange business transacted,

Current and Find Deposit Accounts in local and for Currencies C opened for clients..

"Ascount and safe Deposit Boxes,

Mall over the world. KANTONG PO

OTHEESE Kong.

Bwatow, Canson,

Alagapoes, Hemarang, Batavia. Boubey, London, New York, Dairen,

LONDON BANKERS 1

Koulutig

Surabaya,

tions, while they also include well Calcare thought aut schemes of national and local development and Im- provement:

The Loudon County Wasteluster and Farr's Bank,:

The Bank has Correspondanta in all the peinepel Commercial Cantess throughout the world.

I. NAGURA

Manager.

HONG KONG BRANCH:

-1, Das Taux Road Genart. Hong Kong Jessoney, 1239

OUR

LADIES' TAILORING

DEPARTMENT

undertakes to execute "orders

FOR MAKING DRESSES &

GOWNS on latest styles with-

in 16 hours..

In contrast with relief works, public works are carried through upan a strictly -commercial basis, at ordinary rates of wages, whe- ther the work is performed by con- tractors or is directly undertaken, and.It is obvious that, under these conditions, the mere adjustment of the time when the work is to bo put in hand should not, as a rule, involve any appreciable addition to the cost.

In fact, it is contended in many quarters that by a systematic plan- ning of public works over a num- ber of years, and by confining their execution, as much as possible, to periods when other classes of buri- ness are quiet, considerable say Ings can be effected. During times of depression, prices usually tend to fall and interest rates to decline, so that, normally porphases made at these perleck should be on more

LOVELY SILK STORE (avourable terms than when ordin-

No. 2, Stanley Strest, Tel. 22100, (Adjoining D'Agullar Street)

ary trade is active. From the point of view of the country 45 A whole, there should also be some paving in the cost of unemploym

In the circumstances M. Moret

his chief's do.

The contract unit will be 25,000 ounces, at 99.9 fineness, and price movement will be in one-hundredth cents.-Router's American Service.

A Teaspoonful

or so

makes a

whisky

and

soda

a great

Thirst Quencher..

|SPOIL-SPORT!

Don'ts for Motorists

and

to

"Sorry... you'll have count me out of the party. yes... another of my beastly

bilious attacks. So that will mean an odd man out at the dance. And how- ever much they sympathise with her, the feeling that she has spoiled the evening will romain. Yet, if only she would take just the simplest precaution she would never be subject to these distress- ing bilious attacks.

An occasional dose of Pin- kettes to keep the food-ways clear, to stimulate the liver and intestines to their duties would keep her in perfect tune.

PINKETTES Liver and Laxative Perfection

are

Gentle and roothing as nature and not habit-forming, they

tho ideal correctiva FOR CONSTIPATION "LIVER", BILIOUSNESS

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

DON'T FORGET YOUR

CAPSTAN