1931-06-12 — Page 2

BANK S

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorised Unpllal sammensumoni 40,000,000 Inewed and Fails Paldes i 110,808,106 Rare Funde

..................☎ 6,000,000 SUZ...........$10,000,000

Bonerre Liefly of Proprietors ... $30,000,000

HEAD OFFICE HONG KONG..

BOARD OF DIRECTORS ;-- Bos. Mr. D. B. Miskia,

Chairman

Bao. Mr. J. Palareon. Deputy ChairmNG.

Bon. Mr. F. EL Bull, T. E. Pearce, Kay.

A. EL Compton, Eeq. J. A. Plummer, Bag."

B. Lander Lawli, Esq. 7. H. E. 'Shaw,' Eaq.

.G. Mlakia, Bag...

AMOT

BANGKOR

BATAVIA

BOMBAY

CALOUTTA

CASTON OHEJOO COLOMBO

DURAN VOOOLLOW

Η ΕΤΑΙΡΕΙΑΝΟ

RAMBUR

MANKOW HABBIN

J. P. Wartsu, T.

Ohh! Manager.

V. M. myburn, Kag.

MORDNEW-

ILOILO

IPOH

JOUOBK

XODE

ZOWLOON

BRANCHED:

KUALA LUMPUS

LONDON

LYONS

TALOGE

MANILA

MUAR (Johor)

MORDEX

NEW YORK

PEIPINO

TENANG

BANGDON

BAIGON

BAN FRANÇIBO

-SHANGHAI

SINGAPORE

BOTIKABATA

*BUNGHI PATANI

› TIENTSIN

TOKYO

TSIKOTIO YOKOHAMA

Current Amounts opened in Lanal-Quran'ny- and Fixed Deposita received for one yake, OF shorter perioda in Local Curtenay and Harling 02 m which will be quoted on application. Hong Kong, 28th February, 1991.

HONG KONG SAVINGS BANK.

The Basics of the eburn Bank la saadunt. ed by the HONG KONG AND SHANOITAI BANKIND CORPORATION,

Bules may be

obtained on RONG AND CHANDAL

PON THE BANKING CORPORATION.

V. M. DRAYBURN,

Cilat Manager,

"Hong Kong, 18th July, 1000.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussmann, Paris,

Subscribed Capital Frs. 72,000,000.00 Pald-Up Capital...Frs. 08,400,000,00 Baserve Funds ....Frs.102,000,000.00

Cantor

Djibouti

BRANCHES: Bangkok Hong Kong Quinhon

Saigon Battambang lue

Shanghai Giao Lenghto

Nam Dinh Singapore

Thanho Tientsin Tourano Peking Pnor-Penh Vinh Pondichery Yunnanta BANKERS:

Numea Fort-Bayard Fapeete Haiphong

Hankow

Tanol

THE CHARTERED BANK OF INDIA, AUSTRALIA & 'CHINA. Incorporated by Royal Charter, 1553.

THE CHINA MAIL.

THE HO HONG BANK, LTD,

(Established 1917)

HEAD OFFICE:SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C. $3,000,000 Authorized Capital Straits $20,000,000 $4,000,000 Issued Capital

Paid-up Capital

HEAD OFFICE: LONDON.

Paid-up Capital Reserve Fund

Reserve Liability of Pro-

pristore

ALOB STAR

АМИНТВАН

£3,000,000 ₫ Reserve Labilities

Agencies and, Branchen:

· KUALA LUMPUR KUCHING.

KADEAS

MANILA

MEDAN

NOW TOOK

BANGKOK BATAVIA,

BONDAY

BALOUITA

CARTON CAWNPORE GELU COLOMBO DAIREN (Dalaj

outh Manchuria)

DELHI

HAIPHONG BAMBURG

HANKOW

ARBIN

[H. Manours)

E0HD KONG

ILOILO

• IPOI

KARACHI

KLANO

KOBE

KUALA KANGSAR.

(Park P.M.5.)

PEKING

PENANG BANGOOX

BASOON SENARANO DEREKBAN

GIANGTỈ

BINO ATOBE

SITIAWAN

BOUNARATA

TAIPING (P.M.B)

TAVOY

TIENTSIK

TOKTO

THINGTAO

TONGKAH (Phuket)

YOKOHAMA

ZAMBOANGA

(Philippine Islands)

Foreign Exchange and Banking bustness transacted.

General

Current Accounts opened and Fix- ed Deposits recolved for 1 year or shorter periods 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.$224,554,298

Branches in

ARGENTINE

BELGIUM

BRAZIL

CHILE

LONDON

MEXICO

PANAMA

PERU

CHINA

PHILIPPINE

COLOMBIA

CUBA

DOMINICAN

ISLANDS

PORTO RICO

STRAITS

REPUBLIC SETTLEMENTS

INDIA ITALY JAPAN

URUGUAY VENEZUELA

Commercial and Travellars' Lettors 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 fox- eign currencies taken at rates that may be ascertained on application to the Bank.

We are also able to offer our Cus-

of Shareholdern Surplus

8,000,000

4,000,000

2,000,000

INDUSTRY IN AMERICA.

Commerce and Finance

2,626,600 Reduction of Production

And Selling Costs.

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

Every description of Banking and Exchange busiñass transacted.

TAN ENG HOOL

Manager.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V..

(HRTITERIANDE TRADING SOCIETY) BANKERS

!

Realished 1874.

Hong Kong Offos :—11, 'Quawa's Bowd, Omisest. Lushorfand Capital ... Guildare 180,000,000. (811,100,000.) Tald-Up Capital nemen Gailders; 10,080, CO

(23.000,137) Kasety Fund womanzo Guidors” 14,013,000

Read Ofori-AMSTERDAM- Bánlera Band Dios:-BATAVIA. BRANCHES Bandjartasiz, Bandrang", Bornbay.

Calouste Chartbon, Djamber, Djok Starts. The Slagua, Jeddah, Hobe, Kosa-Belja, Makamar, Medan, Padang Palabas Pekalonga Pontianak Babgton, Bottardam”,

(4),

Bamarang Bang, Bibot Barakarta (Solo), tagal, Tjilaf

(Bomatra), Singapore, Soɑzabala,

Weltarredon

Chase udices kate sale dopo bezet to let

London Barkan:-National Provincial Bank Ltd. Correspondents all over the world Banktor business of srazy description transacied."

A. STOKKINK.

Hong Kong, th August, 1960,

Kansız.

THE BANK OF CHINA. 行銀國小

in

raw

In

#

FRIDAY, JUNE 12, 1931.

AUSTRIA'S MONEY

DIFFICULTIES.

Bitter Comment on New Developments.

FINANCIAL SECURITY.:

Vienna, May 29,"

Lord Irwin:-Those who' desire change, are not always sensible, of the great, traditions of the past, and those who dwell so firmly ̄on the past are disposed sometimes to forget that change is one of the great laws of life.

Lord Macmillan,chatroian, | Banking and Finance Commission:

Vor-

That the financial security ofBy all means let us have the Austria has been bought at tog best administration of our high a prion by giving up the counrency. But all these things are in try's financial Independence is the vain unless they maintain the Impression prevailing here after

Credltanstalt.

A

the

efficiency of labour, technical com- petence of management and the ald supplied by capital in the form of equipment and machinery. Ris universal testimony that output per workman rises in times like these. We have already given some Inter- esting examples of this rise in dis- cussing building costs. This in the bill establishing the State's un-character of the people for enter- crease in output is a good argument limited liability for the foreign prise and probity.

Sir William H. Goschen, K.B.E., PROBLEM OF BUYING POWER. for maintenance of wage scales, but obligations of the Wiener Credit it also illustrates the wastefulanstalt had been passed by the

chairman, Angio-Celtic Trust, laxness of productive efficiency that National Council and after the

We Bank for International Settlements Ltd.:-It is difficult to see for the accumulates in boom periods. Throughout Industry the

do not hold a fatalistic attitude as in Busle had announced that ten moment what can be done to bring United States the necessity of re-to the necessity or depressions, but of the leading central banks had

is ducing costa of production and sell-we recognize that they are the most agreed to grant the national bank back that canfidence which the necessary cash necessary to its proper basis. Ing prices of the product has been effective enemies of the wasteful of Austria

In tiding the bank Rt. Hon. the Earl of Mar, and the paramount consideration of nese and unproductiveness which credit to help.

can seldom be combatted when they over the difficulties caused by the Kellie, K.T., chairman, Scottish executives during the past several are at their worst, ie., during the foreign

of entanglements

Union and National Insurance Co.: months, and the progress made in upswinga. Decision whether the

In future Austria's finances will There is little doubt that n efficiency. Is! that direction continues notable, and increase in labour Is one of the encouraging features aufficient to avert the necessity for be controlled and managed by forgrent part of the recent losses to French the small investor have occurred as wage reductions must be made, wa eigners, namely, by of the situation. The methods by

manufacturer on financial expert in the person of a result of lack of financial train- repeat, by cach which this reduction is being ac- the basis of the actual conditions Professor Rist, who will supervise ing and knowledge on his part as' the Creditanstalt, and by a repre- well as from a desire to get rich complished are varied; they include he faces.

sentative of the International Bank quickly. Fears For The Standard Of lower prices of

materials.

who is on his way to Vienna where Living Baseless.

Mr. F. W. Pascoe Rutter, economies

organization, in-

The formula for buying power he is to be installed as financial governor and chairman, London creases in productive efficiency, and stated above supplies a key for the adviser to the national bank of j'and Lancashire Insurance Co., salary and wage reductions. In examination of the statement that Austria. many cases the economies achieved lower wage rates endanger the

Bitter Press Comment: in other directions have enabled American standard of living. We Some papers comment, bitterly War era, made a serious attempt to think it correct to say that what is on these developments and on the cut our coat according to our cloth. manufacturers to reduce costs and temporarily affecting that standard fact that in spite of the obvious in

Dr. A. L. Bowley, Professor of Belling prices substantially without is not cuts in wage rates in reason ability of the Austrian State, or Statistics, University of London: resort to general horizontal wageable-proportion-to-declines-in-the-of what was left-of-it-by-the-peace- The suspicion attaching to retail- cuts, and the tendency to avoid such cost of living, but the inability of treaties, to sustain itself, the pro ing is largely due to the fact that. cuts, or defer them as long as pos- American employers, who are unable posal to follow the natural cause traders are unwilling or unable to sible, is a matter of common obser to reduce costs. (including wage of economic unity with Germany provide the statistics by which the vation. However, the number of

costa) and selling prices: to the in order to get at least a certain, case can be examined. The public, reductions announced has increased market's requirements, to give work amount of stabilisation, had aroused statesmen, and retailers suifer since the first of the year, and to American workmen. Standards in certain countries such a degree through want of information. whereas the largest number report of living are determined not by the of animosity that it could not be ed by the Department of Labour in number of dollars per hour or day described and interpreted otherwise

man is paid for working, but by other than as a reminder of the What Everyone Needs. what he can buy with the total old prejudice bred by the war. And number of dollars he receives. The now, the papers say, another proof No matter who you are or what dollar is merely a counter in an has been given of the Impossible you are, every man, woman and exchange of labour for goods and state of affairs created by the peace child needs an occasional aperient: The "Conspiracy" Myth.

services. This is fairly, well under-treaties. These countries have Waste matter is bound to ac- The use in the newspapers of the stood in this country, where the used the opportunity to prevent cumulate to a greater or lesser de- word "conspiracy" in connection

term "real wages" is generally Austria from taking the course that gree and every now and then the with wage reductions is so mani- festly extreme that it can be dia. familiar; it has been discussed at might have led to her economic food tract should be cleansed. missed. They can be no more an length previously in these letters, revival and aim at the definite ex and requires no further expositon tinction of her financial and ontcome of conspiracy than the

at this time.

economic sovereignty. That such declines in, say, commodity prices

methods will lead to an economie and dividends have been. It is

rehabilitation of Europe must, these papers assert, seriously be doubted.

Trans-Ocean Kuo Min.

Reorganised October 26, 1928, under any month of 1980 was 193

.in

special charter of The National Gov-August there were 335, in January this year, 228 in February, and 175 In March.

ernment as An

INTERNATIONAL EXCHANGE

i

BANK. Subscribed Capital ....$25,000,000,00 | Pald-Up Capital ..........$24,710,200,00 ..$ 3,820,503.82 Reserve Funds

HEAD OFFICE: SHANGHAL,

HONG KONG BRANCH:

4, Queen's Road Central,

a

་

Ltd.:-We are suffering especially because we have not, in this post-

IN FRANCE: Comptoir National tlon in San Francisco and Spain and world, we are able to extend to our and sobering realization of the auction of old goods and the creation FINANCIAL. WISDOM | Laxative which is not habit-creat-

d'Escompte de Paris; Credit Lyonnais; Banque de Paris et des Pays-Bas Uredit Industriel et Commercial; So dace Generale.

IN LONDON: The National Provin- cla. & Union Bank of England, Ltd.; Comptoir National d'Escompta de Paria; Credit Lyonnais.

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

Interest allowed on Current Ac- counts and Fixed Deposits according to arrangements.

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

A. BONNAUD, ·

Manager. Hong Kong, 1st May, 1951.

THE YOKOHAMA SPECIE BANK,

LIMITED.

Established 1980.

Capital (fully paid-up) Yen 100,000,000. Reserve Fund ...Yen 115,000,000

Head Office:--YOKOHAMA.

Branches and Agencies at:

Manila Nagasaki

Alexandria

Batavia

Berlin

: Bombay

Calcutta

Canton

Changchun

Hamborg

Hankow

Harbin

Hong Kong

Honolulu

Nagoza

Newchwang

►

Pelping

Now York Osaka

Dairon (Dalny) Rangoon Fengtien (Mukden) Rio de Janeiro

San Francisco "Seattle...

Sematang Shangha Shimenosoki Singapore. Sourabaya Bydney Tientsin Tolyet Tsingtau Interest: allowed on Current Ac- counts.

Kal Yuon Karachi

Kobe

London:

Los Angeles

Lyons

Deposits received for fixed periods et rates to be obtained on application.

H. MORI,

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

Manager.

abroad.

other

There would be more occasion for Owing to our numerous branches in evident that employers generally are concern over the maintenance of American standarda of living if tomers the services of the Branches China and large connections in the im-approaching the question with a there were any reason to believe of the International Banking. Corpora-portant commercial centres of the deep sense of social responsibility that technical progress in the pro- also of The National City Bank of clients special facilities for domestic

Broadness and importance of the of new has come to an end. But Now. York (France), SA, in Paris and foreign banking sad exchanges.

We also handle the lasue of Bonds principles involved. Those who have the contrary is the case.

Labora and Nice.

F. McD, COURTNEY,

and other Public Funds of the Chin- the financial strength to carry tories ese Government both at home and through dull times, spd in whose abandoned; engineers and

are being extended, not

Hong Kong, 20th February, 1931.

unit costs labour bulks relatively scientists are more numerous and SHOU J. CHEN,

Manager. small, will doubtless make every able, and managers

more efficient, Hong Kong, 6th March, 1981. effort now, as they have done during not less. Out of their work will the past year or more, to carry on come in the future, as in the past, without cutting wage rates. On

the chief gains in living standards, THE BANK OF CANTON, LTD. the other hand, the disparity be which are achieved by reductions in

tween coste and competitive selling costs. prices is compelling an increasing number of those with relatively high unit labour charges to reduce them, In many instances the ensuing re duction of selling prices is permit- Canson, Shanghal, Hankow, Bio, ting operations that otherwise could Bangkok, New York and Ben Treacleco.not be conducted, and to that extent

GURRESPONDENTU

keeping up the amount of wages actually disbursed.

THE

AMERICAN EXPRESS COMPANY,

INC.

Head Office: 65, Broadway, New York.

.1.8.36,000,000 U.S.$2,572,464 U.8.$1,908,209

Capital: Surplus Reserves

-HRANCHES :=

Amsterdam

Nice Карие Pleastia

Par

Animary

Attam

Bala

Barlin

Blarita

Bombay

Вещий Brussle

Ooo Glasgow Havana Hamburg Ham Interlaken Jerusalem

Buenos Aires Liverpool

Caro

Calcutta

Dolombo Constantnople

· Goparkagag Zanburgh

Tsaaar

l'alarma Botterdam Boma Blamboul

London

Lupe.The LABS LALICE Marokos ... MORE Monte Carlo

Manila

Munich

Montreaz

Milan

Hbangbel donthampton -Eingapore

Tieniela

Tokobame Kualok

·Floreas ÜMONTH

Branches

Expres of American Company in Principal cities of Unit- ed States of America and Canada.

All classes of Commercial Banking Transactions undertaken. -

Personal handled.

Investment

Established 1912.

Head Office:-Bong Kong.

Authorised - Capital. (E.K, Curmanoy) $11,000,000 Fald-Up Capital ́ase.comma

0,550,000 Beer Fun

4,100,000

BRANCHERS

-LONDON-BANKERS,

The Lord's Bank, Llanffed.

In all pelasipal diles of the World.

4

Foreign" szóhangs and banking, burizam of every daniation lesznacial,

Bata Deposit Esse (xulosa siano) il a rearly tenial of from 40.

LOOK POONG shan,

Chief Manager.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO.)

Maintaining Buying Power. The problem of maintaining the buying power of the population is one of preserving the balance be tween the different groups of pro- ducers and consumers, What le wanted is a price level for com modities that will enable goods to If exchange freely in the markets. the price of labour, or any other Item entering into the cost of manufactured goods, is too high in terms of what large groups of con- sumers sitch as farmers and pro- ducers of raw materials (who have Buffered heavy declines in purchas lung, Ing power) can pay, the mechanism Makong, Manio, Bhically, Talk, Talas of exchange is thrown out of gear, CHINA Sangha Hickey, Amor Foooow, production slows down, people are VTAKES LORD. Bizape Boersiars, thrown out of work, and purchasing

HEAD OFFICE:--Taipeh, Formats

Incorporated by Special Imperial Charter, 1899.

Conical Bank In Porc Bak-Ming and Armage amount wax. 18,000,000 BRANCHES AND AGENCIES ↑ JAPAN 1-STUKIO, Yokobleta, PhD DISAD

Accounts FORMOSA Gra

The Company offera to Intending Travellers the use of its “Travelers Cheques" and Letters of Gredit and, In addition, the world-wide services of its thoroughly equipped Travel De- partment.

Affliated with

·THE ́CHASE- NATIONAL BANK

Resources

Over d$2,500,000,000

C. II. BENSON,

General Manager

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Centrál,;

HONG EUN

of Bank

00,000.00

oyer 11.$80,000,000.08

and lzxchange business

Counts in lock and for

Balow," "Ganton, Part

Bomaringi Delaria, Bombay, Calcitability everywhere is curtailed. In

London, New York - Daten.

LONDON BAXKEBS;

The London County Wamitripe and Pary'e Bank other words, while we do not wish

The Bank has Overwiipondente fu all the principai Commercial Cestas throughout the world.

HONG KONG HORARVEL

Managne.

COASTWISE

ALGIE" BENNETT.

An interesting

of Cartoons Happenings China Coast

PRICE $1.00.

'Now on isola at

TAIDI

to take any general stand either for

er against wage cuts, we consider it desirable to point out that a broad view of the situation must take account of many factors besides the wage rate. Perhaps the simplest statement of buying power is that It is the product of hourly wage rates multiplied by hours of employ ment, divided by prices of the things bought. The desirable high quotient must be sought through equitable adjustment of all three elemente." It Is -ns necessary to keep the man at work and to sell him goods cheaply, as it is to pay hita a high nominal wage scale. Adjustment of these factors will vary in different industries. An practlop the problem is, being work- ed out carefully by manufacturers. With the facts of cost sheeta before. them, and the decli thus reach éd are likely to be wise reg which theories they square withi

OF THE WEEK.

The Restoration of

Confidence.

Rt. Hon. D. Lloyd Goorge P.C., P.All taxation is the nation

alisation of somebody's property.

This is sound health-sense and all doctors and health specialists agree. For this purpose there is nothing quite like Pinkettes, the laxative -regulator. occasional This splendid aperient has now filled the need which has long been Bought by research chemists for a

Ing, na other known laxatives are. You do not need to be taking Pinkettes always. They act as gently as nature, relieving the Most stubborn constipation sooth- ingly and without griping. bitiousness, sick headaches, liver- ishness, and derangements of the stomach and bowels generally, they are rapidly effective. All chemists.

can supply you.

and so good to my throat!

Don't you adore that wonderful Embassy flavor ?**

Indeed.yes

and they're so

aressing to my throat!"

Embassy

CORK TIPPED

YOUR THROAT LIKES THEM

For

لله