1931-06-04 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Kathurland Caplint.

50,000,000

furoad and Tully Paid-up 30,000,000 Resorts Pund

Berling

Ailver.........

£1,500,000 $20,000,DOB

Seserve Ety of Propristora...... $50,000,000 HEAD OFFICE: HONG KONG,

BOARD OF DIRECTORS :-

Flo, Mr. 0, 0, 11. Menkle. Chairman,

Hen. Mr. J. J. Palopon Deputy Chaliman

Won. Mr. R. B, T. E. Paros, eg.

10

4. 1. Ompion. Esq. 3. A. Flummer, Kaq.

B. Incise Tania; Eng, T. 1. 1. 8baw, Esq.

Mikio, Beg.

AMOY

BANGKOK

ISATAVIA

BOMBAT

CALCUTTA

CANTON

CHEFOO

COLOMBO

DAIDEN POOCHIOW "HAIPHONG

HAMBURO

HANKOW

WANDEN

TRONOXEW

LUIZU

2231

101N2

KOBE

KOWLOON

3. P. Wuren, Es.

Ciklet Manager.

2. M. Grazbura, E.

DEANCHES:-

KUALA LUMPUR

LONDON

LYONK

MALACCA

MANILA

MUAR [Johore)

MUKDEK

NEW YORK

PEIPINO

PENANO RANGOON

HAJDUN

HAN FRANCJBO

SHANGHAL

SINGAPORE

SOURABAYA

HUNOEI PATANI

FIENTEIN

TOEXO

TSINGTA

YOKOHAMA

Current Acounte opwoad in one! Carter19 and Find Tipoalte rusivad lot one year o skotter at Care and Hurling ou Lerns which with low quoted on application. Hong Kong, alih February, 195

HONG KONG SAVINGS BANK.

Banism of the above Bank is conduct-

ed by the HONG KONG AND BHANGHAI BANKING CORPORATION.

une sty

b

obtained un application.

FOR THE HONAKOND AND BEANQUAT BANKING COLPORATION.

V. M. GRAYBURN.

Hong Kong, 15th July, 1900.

Chief Manager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussmann, Parla.

Subscribed Capital Prs. 72,000,000.00 Paid-Up CapitalFrs. 68,400,000,00 Reserve Funds ....Fr.102,000,000.00,

BRANCHES:

Saigon

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA, Incorporated by Royal Charter, 1883.

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve Fund

Resorve Liability of Pro-

prietors

THE CHINA MAIL.

THE HOSHONG BANK, LTD.

(Established 1917.)

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

Commerce and Finance

£3,000,000 Authorised Capital Straits $20,000,000 WHY A TARIFF WAS BRAZIL'S

£4,000,000 Issued Capital

Paid-up Capital

..£3,000,000

Reservo Labilities

Agencies and Branches:

of Stareholders Surplus

(Malay Static)

KUALA LUMPUB KUCHING

AMBITRAS

MABRAH

MANILA

ALOR STA

BANGKOK

HATAVIA

DOMBAY

CANTON

CALOUITA

CAWNFORE

CKBU

MEDAN

NEW YORK

PERING

FRANOOUN

PKNAND

COLOMBO

DAIRER (aisy

KAIGUN

Youth

andhuria)

HEKARANG

DELMI

БИЛЕМНАН

HAIPHONG

KJAMINAT

HAMBURG

SINGAPORE

HANKOW

SITIAWAN

HARDIN

(M. Mancherial

FRẰNG KONGO

HANLO

KARACHI

KLAND

KONE

KUALA KANGSAR

(Perak P.M.9,3

Foreign Exchang

ROUBABAY A

TALING (P.M.D.)

TAVOY

TIESTLIN

TORTO

TUNGRAH (Bb)

THINGTAO

YOKOHAMA

ZANBANCIA

Philippina Islands)

and General Ranking business transacted.

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

J. STUART,

Acting Manager. Hong Kong. 28th May. 1931.

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

COLOMBIA

CUBA

DOMINIC

INDIA

ITALY JAPAN

MEXICO

PANAMA

PERU

PHILIPPINE

ISLANDS

PORTO RICO STRAITS

SETTLEMENTS URUGUAY VENEZUELA

Commercial and Travellers' Letters

of Credit, Travellers' Cheques, Billa of Exchange and Cable Transfer: Bangkok Hong Kong Quinhen

bought and sold. Current accounts Battambang Huc

and Contho Mengtze Shanghai

Savings Bank accounts opened and Fixed Deposits in local and for Canton Nam-Dinh Singapore Djibouti

currencies taken at rates that Thanh2

eign Tientain Fort-Bayard Papeete

may be ascertained on application to Haiphong

Peking

the Bank, Tourane Kankow Phom-Penh Vịnh Hanoi

Pondichery Yunnanfu BANKERS:

Numea

IN FRANCE: Comptoir National d'Escompte de Paris; Credit Lyonnais: Banque de Paris et des Pays-Bas; Credit Industriel et Commercial; So 44 Generale.

IN LONDON: The National Provin- cia & Union Bank of England, Ltd.; Comptoir 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.

Interest allowed on Current counts and Fixed Deposits according to arrangonents.

Every description of Banking and Exchange Business transacted.

A. BONNAUD,

We are also able to offer our Cu 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), S., in Faris and Nico.

F. McD. COURTNEY,

Manager, Hong Kong, 20th February, 1931.

воение

THE AMERICAN EXPRESS COMPANY, INC.

Ac.

Head Office: 65, Broadway, New York.

Safe Deposit Boxes to let

Manager.

Hong Kong, 1st May, 1931.

Capital Surplus Reserves

.U.S.$8,000.000 .U.S.$1,572,454 ..0.9.$1,908,200

Amsterdam Autwerp Albans Healy Barlin

BRANCHES

G Glasgow Harana

Ho Haplos Pir Paris

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 Agenclos at:

Manila Naganaki Nagoya

Alexandria

Batavia

Berlin

Bombay

Calcutta

Canton

Newchwang New York

Felping Dairen (Dalny) Kangoon Fengtien (Mukden). Itio de Janeiro

Changchun

Hamburg

Hankow

Harbin

Hong Kong

Honolulu

San Francisco Sortile Semarang Shanghai Shimonosoki Yuca

Singapore Karachi

Sacrabaya Kube

Sydney London

Tientsin Los Angeles

Tokyo Lyous

Tsingtau Interest allowed on "Current Ac counts.

Deposits received for fixed periods at rates to be obtained in application.

H. MORI,

Manager.

Hong Kong, 11th April, 1931.

Bembey Brethen

llabutyl HAIR Interlaken Jerusalem Lido London

Liverpool Locar Lugano Lazor Marsailles

Brussla Buenos Aire Cairo Calculia Cappe Colombo Gostenloop Monte Carlo

الحمل

Munich Montreux Muan of

[Mons

D'alemo Botterdam Rota Stambouil Shanghai Southampton Singapore St. Morit tintala Vizua

Vention

Yokohama Zurich

Copenhagen Edinburgh Florence

Branches American Expresi Company in Principal cities of Unit ed States of America and Canada.

All clanson of Commercial Banking Transactions undertaken.

Personal Investment handlod.

accounti

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 $2,500,000,000

C. H. BENSON,

General Manager.

THE BANK OF EAST ASIA, LTD.

Fatablished 1918.

HEAD OFFICE:

10, Des Voeux Road, Central. TONG KONG

Capital and Surplus

Total Resources

Over H.$ 8,000,000.00

over EL-$30,000,000.00

Every description of Barking and Exchange basiness transacted.

Current and Fixed Deposit. Accounts' in local and for.

eign currencies opened for clients.

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

KANTONG: PO,

Chief Manage

8,000,000 4,000,000

4,000,000 2,526,000

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

Every description of Banking and Exchange business transacted.

TAN ENG HOOI,

.Manager.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(N2102BLANDS TRADING BOCIETY)

DANKERS.

Established 1934.

Bang Hong Othell, Q's Road Osonal,

Authorised Capital duilders 180,000,00G-

Pald-Up Depital *****........Quiidaes 10,000,00

(25,858,130) Essere Fund

(219,600,000.)

... Quilders 10.010.000

Head Off-AMSTERDAM Esters and Omica:-BATAVIA. BRANCHES - Bandjarmasin, Bandung", Barnbay.

Calul, Cheribon, Diber, Dick Exte.Badia, Makiaz, Madan, Fedang

Jakarta", The Hague", Jeddah), Kõbu,

Palembang, Patong, PORAGE Pontianak Ллороод, Hamarang", Bingtal, Albolgi

Blagspore, Boutaba

Weltevredes".

REFUSED.

NATURAL

RESOURCES.

| Mr. Graham on Iron and Recuperative Power of

Steel.

Why a tariff was refused to the iron and steel industry was explain ed recently by Mr. William Graham, President of the Board of Trade, when speaking at Scunthorpe, Lin- colnshire.

Within recent years, he said, the Industry had pleaded for a tariff as virtually the only method to meet the changed conditions of world competition. That subject was fully investigated by a civil re sech committee, under the late Conservative Government, of which committee many Cabinet Ministers were then members. They found that the application of a tariff to

Boto), Tegal, Tillaju imported iron and steel would raist such a comprehensive problem as to amount to a substantial change in the whole fiscal policy of the country.

• These chicas base and dapoelt bares its lat. London_Bankers National Provincial Bank Ltd. Correspondante all over the world Banking durinia of vary discription transacted.

A. STOXKINK,

Hong Kong. (8th August, 1940.

MADSger.

THE BANK OF CHINA. 行銀國排

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

ernment as an

They considered that they had not a mandate for such a change; and accordingly the iron and steel in dustry was refused a tariff. It was now clear that one section of the industry was asking for what was virtually prohibition of the two to three million tons of imports per annum. A larger section request- INTERNATIONAL EXCHANGE ed a heavy import duty, and few re- presentatives of the industry had ....$25,000,000.00 any use for a mere revenue tariff.

$24,710,200.00 The *slightest investigation $ 3,820,503.82 proved that such a change could not be effected without raising again the whole tariff issue as ap- plied to the general range of Bri tiel industry nnd commerce.

The shipbuilding industries, whose position was also depressed, would undoubtedly be adversely affected.

BANK. Subscribed Capital Paid-Up Capital- Reserve Funds

HEAD OFFICE: SHANGHAL

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

China and large connections in the im- Owing to our numerous branches in portant commercial centres of the Higher Price Wanted. world, we are able to extend to our clients special facilities for domestic The whole object of the tariff and foreign banking and exchanges. was to secure a higher price for We also handle the issue of Bonds British steel. He agreed that there and other Public Funds of the Chin-was grave danger in the present ese Government both at home and abroad.

world depression in commodity SHOU J. CHEN, prices; but a true remedy did not Manager. lie in further restriction of over- Hong Kong, 5th March, 1931.

THE BANK OF CANTON, LTD. Established 1912.

Head Office-Hong Kong. Authorised Capital (H.E. Corrency} $11,000,000 Paid-up Capital

8,065,000 Romet Fund

1,200,000

BRANCHES1-

waton,

Danlon, Ekszyba, Kakow, Bengkok, New York and ban Prasolso

CORRESPONDENTS

LONDON BANKERS:-

The Lloyd's Bank, Lizaliad

in ali principal allies of the World. Forsign szobangs and banking business of every description imassciel.

Rala Depo Boxes (various elzas) si a yearly rental of Irom $5 to Bid,

LOOK POONG SHAN,

seas commerce.

|

the Country.

Brazilian affairs have been much in the public eye of late, so that the "Report on Economic Condi- tions in Brazil" during 1930 by Mr. J. Garnett Lomax, Second Commercial Secretary, H.M. Epi- bassy, Rio de Janeiro, now lasued by the Department of Overseas Trade, comes at a peculiarly ap propriate time.

The fall in coffee prices which began in 1929 continued through out 1930, and though a complete by the suc collapse was averied cessful flotation of a loan to the Coffee Defence Institute by a Bri- tish group of bankers in April, the terms of the loan involving the liquidation of vast stocks, seem to preclude the possibility of a sub- the present and the coming season. stantial price recovery for at least

The full effect of low coffee prices will be understood when it of the prosperity of Brazil is de is remembered that three-quarters pendent directly porta, Tinies.

upon coffee ex- comments the Financial

The New Government.

The Insistence in the new Gov- ernment's programme

upen the necessity of encouraging the de

sources of velopment of primary wealth, and the significant refer-

the undesirable conse eace to quences of creating artificial in- dustries, indicate that it recognises that the country's future prosper- ity, not less than immediate re.

present depres- covery from the alon, must be based upon the de- velopment of natural resources. and particularly upon an increas ed production of a diversified range of agricultural products.

If the economic ideals enumer ated in the doclaration of policy from the present difficultles are followed up, a rapid emergenco undoubtedly result, for the past will

has shown the recuperative capa- city, of the country.

The accomplishment of this pro- The report of the Economie Ad-gramme, furthermore, would re- move many of the difficulties in- visory Council on fron and steel was confidential, but in parliament. volved in the import trade with ary discussions it had been indicat-this market. The overseas observ

er, therefore, whether looking to ed that the object was to secure n

Brazil for raw materials or for draatic reorganisation of the indus-markets, has reason to anticipato try by amalgamating a number of the existing concerns and by attain. ing also a certain geographical re- 1930, as compared with the cor- distribution of the output.

'na era of stability and prosperity. For the first nine months of

It was also known that authori-responding period in the previous year, Brazilian exports decreased ties within the industry were gen in value approximately $18 mil- erally in favour of a plan of region- lien sterling (from £72.1 to £54.6 al reorganisation. They believed

million), in spite of an increase in that the output should be concen tonnage of exports amounting to trated in four units-in South

about 15 per cent. Wales, on the north-east coast, in the Midlands (including Cumber- land), and in Scotland. Further, the highest financial authorities THE BANK OF TAIWAN, LTD. urged that if a tariff were given there would be grave danger of no progress in reorganisation.

Chlef Manager.

(TAIWAN GINKO.)

HEAD OFFICE:-Talpeb, Formusa.

Incorporated by Special Imperial Charter, 1899.

Fear of Retaliation, In this industry, us in others, there were still substantial minori : ties who did not appreciate

Otel Bank La Fort Bank Note aurd Average amours ...Yan. 45,000,000 BRANCHES AND AGENCIES)

the need for any change at all. JAPAN :-Tokyo, Yokobaraa, Kobe, Oak

Meanwhile, on the financial side, it FORMOSA 14člo

Kolong, Kazi,... Karenko, Hakour, Santo, 82luckihu, Taichn, Talman, was urged that until there could Takso, Tamaul, Tosa, Halo, Talte CHINA 1-Bhanghai, Hashow, amay, Frockow,

be some guarantee of a larger pro bwatow, Canton, OTHERS-Hoog

portion of the British market for Bia papore, Boncabara Fema-218 Batavia, Bombay,

Calcutta, iron and steel the necessary capital London, Haw Tork, Dalen

would not be provided. LONDON BANKERS,

The London County Waximinater and Parr's Bank.

+

Export Figures.

Substantial increases occurred in the volume of the following ex- ports:-Lard, meat, wool, cotton, rice, sugar, cacon, coffee, bran, frults, tobacco, tea (mate), maize, vegetable oil, Excopt for coffee. the value of these items also rose. I minerals the volume fell con- siderably with a slight increase in the value. In other words, the

net fall in value of exports was due entirely to the low level of coffee prices.

It is clear, therefore, that in terms of production considerable progress is being made, and parti-

"I believe that it is futile to relycularly in those items which will

Comarcal Centre throughout the world.

The Bank bas Correspondents in all the principal on the tariff, because, even if the eventually compensate for the loss

X. XAGERA

HONG KONG BRANCH,

1, Des Vous Brad Central Hong Kong, 19th January, 1019

Manager.

tho

Conservatives came into office, they of national wealth from coffee would be able to deliver nothing production.

While the majority of British like the amount of protection. that the iron and steel Industry de-firms Interested in Brazilian trade mands," Mr. Graham said. "More are concerned primarily in over, such a atep in the existing country's markets, the key to the conditions would expose Great Brl-whole question of the economic tain to retaliation by a considerable position of the Republic is to be number of European and other found in a careful consideration fed to the loss of many of the bente-secret of the financial and ex- countries, and It will undoubtedly of the exports; there also lies the fts which wo now enjoy under change problems. most-favoured-nation treatment in It is, indeed, not too much to say our commercial treaties.

that the future of the country de- "It'is, always easy to make a case pends upon the progress in pro for protection in an individual in-duction. The prime Leccosity la dustry. What the country has to that the exports bè increased, and Feet,consider in the effect on its over to this end the fiscal and Eocial

HONG KONG HEIGHTS

For the information of visitors the following list of some of the highest points on the Island and Mainland is published:

Victoria Peak

Signal Station

Mt. Parker

Island.

Mountain Lodge The Eyrie

Peak Hotel. Taikoo Sanatorium Mt.' Davis'

Bowen Read (Alterbeds)

Mainland.

Timoshan Kowloon Fesk

seas commerce as a whole. "That policy of the Republic will be 1823

is the rock on which Conservative wisely, directed. 174effort in this matter would undoubt- In general, the report states, ·1:- 1784 edly split. Hence the importance seems apparent that British indus- 1725

of pressing on with the regional retry is prone to overlook the possi- 1725 organisation, of endeavouring toblities of this market. Compared 1805 cure as much use as possible of with other countries, even South 1000 British steel, in public and other American markets, modern Brazil| 877 contracts, and of pursuing efforts ar a market for imports is, in a 297 to ascertain how far agreement can remarkably undeveloped state; be reached with continental steel once a period of real expansion Fest producers as regards prices level takes place there will be hardly 8124 and uniformity in about regula- any limit to the demand for im- 1971. tions"

porta

THURSDAY, JUNE 4, 1931.

THE

HONG 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. Largo Aley Rooms with Fall Beneft of the Cool Sea Breezes. Unequalled Cuisine.

Phone Tel. 56734.

Proprietress:-Mrs. Gardiner.

MARBLE HALL

Cable Add. "Harview."

21, Nathan Rd., Kowloon.

Tel. 57089,

A Select Private Hotel furnished with an eye to the comfort of its Tenants. Single and double suites of rooms with private bath- rooms attached.

Overland China Mail.

A WHOLE WEEK'S NEWSPAPERS IN ONE.

The birthday of His Majesty King George V was observed in the Colony with all the usual ceremony, H.E. the Governor reviewing the Forces stationed here. The spectacle was one of unusual brilliance, and is graphically described in the OVERLAND CHINA MAIL.

*

#

The OVERLAND CHINA MAIL also records the grant of honours on the occasion of the King's Birthday, to local residents. One gentleman `was made Officer of the Order of the British Empire (Military Division), another a Member of the same Order, and Certificates of Honour were awarded to two Chinese residents.

*

A spectacular fire, which at one time assumed an extremely grave aspect, occurred during the week in a con- gested district in Wanchai. Only smart work by the Fire Brigade prevented very serious less of life The affair is exclusively reported in the OVERLAND CHINA MAIL.

*

In the Full Court of Appeal an unusual case was heard, in which the actions of a fraudulent agent played a pro- minent part. Prolonged legal argument as to the rights of estoppel, and the meaning of "holding out" ensued, whilst interesting sidelights were thrown on methods of dealing amongst Chinese piece goods merchants in Hong Kong. The case is fully reported in the OVERLAND CHINA MAIL.

*

*

"Senseless competition" in the marine insurance fleld was deplored at the annual meeting of the Union Insurance Society of Canton,. The hope was expressed that British underwriters would get together, and unite in maintaining a level of rates. The Society had experienced a good year. in view of the difficult times. A complete report of the meeting appears in the OVERLAND CHINA MAIL.

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 lestify to the keen cther parts of the world frequently pleasure and interest its weekly jail to be written even by the most arrival brings.

ardent correspondents. It to For your folks at Home to Te kindly thought, therefore, to ensure caive this weekly 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 unfalling supply of Hong Kong do is to drop a note to the "Over- and Chinese news every week-land China Mali" means of a subscription to the "Overland Okina Mail"

The word "Overland** is a re- minder of the experience behind the Without any trouble of packing production, it having been publish- and worrying about the Post Office ed since the early days of the en your part, and at the cost only Colony, to be at OVERLAND of $4.75 for three months, the because there was na Suez 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. It the march of time the Overland contains the newe and special

features from the daily "China China Mall has become the meat popular weekly newe budget, as it "Mai" that make a studied appeal has been compiled just to muit

people

with any interest present-day requirements, as it has whatsoever in Hong Kong, and done all along. What more could many letters from Home, Austra-| be desired !

READY TO - MORROW

.Mail via Suez closes at 10.30 a.m., June 6.

and via Siberia ai 830 a.m., June 9.

SINGLE COPY

25 Cent.

(Bold on the streets and at the bookstalls or you can send your subscription to the slice--ILK. $13 par axxim, or

#19 Including postage abracd. Half-yearly

or quarterly periods pro rata.] ?

No. 1A, WYNDHAK STREET-PHONE 1922.

"THE OVERLAND CHINA MAIL”