1931-06-15 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION,

Aulkorised Capital . 80.000,100 Tasood and Wally Puld-up gouni (30,000,000 Baterie Punde

£ 8,800,000

Stocking

****** $70,000,000

Sverre Liwicky at Piopriators #6,150,000 HEAD OFFICE: NONG KONG.

BOARD OF DIRECTOBE~-

Hoa. Mr. C. G. d. Macho, Chairman.

Bon. Mr. J. J. Paterson,

Deputy Chairma

Fon. Mr. . H. Bell, T. H. Pénzon, · Esq.

A. H. Complen. Eng. J. A. Plummer, Esq.

R. Landw Lawía, Rag. T. II. B. Akam, Zış.

01. Makin, Esq.

AMOY

BAVOKOL

BATAVIA

BOHDAT

CALCUTTA

CANTON

CHSPOO

COLOMBO

DAIBEN

J. P. Warren, Esq.

Chief Manage.

V. X. Greyburn, 4.

BRANCHES:-

LONDON

LYONB

MALACCA

MANILA

KUAN (Ichoral

MUEDEN

HEW JOBK

PRIPING

PENANG

RANGOON SAIGON

SAN FRANO130,

SHANOMIAL

FOODHOW

HAIPHONG

HAMBURG

ILANKOW

HARBIN

SINGAPORE

HUNGXEW

RQURABAYA

ILOILO

IPOU

BUNURI PATANI TIENTSIN

JOHONZ

TOEYA

LODE

KOWLOON

KUALA LUMPUR

TAINOTAO

YOHODAMA

Current Atropate opened in Local Burrito Fixed Deposite received for one you! shorter periods in Local Currency and Berling ex terms whisk will, be quoted on application. Keng Kong. February, 1981.

HONG KONG SAVINGS BANK.

The Business of the shore Bank le condsat by the HONG KONG AND SHANOMAI Rules may be BANKING CORPORATION.

bined on application.

FOR THE HONGKONG AND SHANGHAI BIKING CORPORATION.

Y. M. GRAYBURN,

Hong Kong 16ib July, 1080,

Chiel Manager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussmann, Parla.

Subscribed Capital Frs: 72,000,000,00 Paid-Up Capital...Frs. 63,400,000.00 .:.:Frs.102,000,000.00 Reserve Funds

Conthe

Canton

Djibouti

Fort-Bayard Papeete

·DRANCHES: Bangkok Hong Kong Quinhon

Saigon Battambang ac

Mengtze Shanghai Nam Dinh Singapore Numen

Tientsin Peking Tourano Hankow Pnom-Penh Vinh

Pondichery Yunnanfa BANKERS:

Haiphong

Kanci

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

IN LONDON: The Nations, Provin cia & Union Bank of England, Ltd.: Comptoir National d'Escompte do Paris; Credit Lyonnaie.

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

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

Every description of Banking and

•Exchange Business transacted, Safe Deposit Boxes to let

A. BONNAUD,

THE YOKOHAMA SPECIE BANK,

LIMITED.

THE CHARTERED BANK OF

INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1855.

HEAD OFFICE: LONDON. Paid-up Capital

THE CHINA MAIL.

THE HO HONG BANK, LTD.

(Established 1917.)

HEAD OFFICE:-SINGAPORE. Hong Kong Branch: 15, Qucan's Rd. C.

·Surplus .........*****

8,000,000

Commerce and Finance

#1

MONDAY, JUNE 15, 1931.

next to the chairman of Lloyds, a happy hunting ground for the Bank.

amateur. It is a highly specialia ed profession, it is an art ́in which caution and experience and knowledge of affairs is better than a fine imagination and an, impul- alve generosity. (Hear, hear.)

Bank's Wonderful Buildings "But perhaps the most romark able change that has taken place In your profession-certainly the change which strikes the eye-is the wonderful buildings that you Nowadays finance is a science.--It have put up in offices to house Is no longer a domestic matter. (Laughter.) BANKERS MEET.

It makes us ay yourselves and your staffs.

It is a matter which is inter- pathise with that oppressed and "Most of us admire the great national in its reactione and re- hard-working individual, the „agri-temple of finance which the Bank percussions. It is not a subject 4,000,000 LORD'SANKEY ON THE PRESENT cultural labourer.

of England is at the moment oract for ill-advised or ignorant experi Ing. If you will allow me to gay

(Hear, hear.) so, I think it was the Big Five

COLONY'S TRADE. which set the example to the Bank of England. Throughout London'

REPORTS BY LOCAL and throughout the provinces 1 see your wonderful palaces with

"IMPORTERS. stone facades and teak furniture; and I cannot help alightly pervert-

4,000,000 2,526,000

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

Reserve Fund

£3,000,000

£4,000,000

Reserve Liability of Pro-.

prietors.

Paid-up Capital

Authorised Capital Straits $29,000,000 fasted Capital,...

£8,000,000

Reservs Liabilities

of Shareholders.

Agencies and Branchen:

ALOR'STAR

KUALA LUMPU

(Malay State)

XUOLING

AMRITVAD

-DANGEON

MADHAS.

BATAVIA

MANILA

NUMBAY

MEDAN

NEW YORK

PERING

PENANO

BANGOON

BAKON

SEMAHANO

JALGUITA

CANTON CAWNFORE CEBU

COLOMBO

DAIREN (Dalny

Bouth Manaksiria)

DELHI

HAIPHONO

BEREMBAN

JIANGHAI

SAMBUNG -

SINGAPORE

BANKOW

SITIAWAN

RARDIN

SQUBADAYA

IN. Manoharis?

· TAIPING (P.M.8.)

HỒNG KONG

TAYOY

ILOILO

TIENIBIN

(Bhuket)

THS NOT AG

УОКОПАМА

ZAMEJANGA

IPOU

KADAONI

KLANO

KODE

KUALA KANGSAR

-{Perah P.M.9.)

TOKYO

TONOBAD

Foreign Exchange

(Philippine felands

and

Banking bustness transacted.

Genera!

Current Accounts opened and Fix

ed Deposits received 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: 65, Wall Street, New York.

Capital, Surplus and

Undivided Profts..U.S.$224,554,298

Branches in:-

ARGENTINE

BELGIUM

BRAZIL

CHILE

CHINA COLOMBIA

LONDON

MEXICO

PANAMA

PERU

PHILIPPINE

ISLANDS

QUBA

PORTO. RICO

DOMINICAN

STRAITS

REPUBLIC

INDIA

ITALY JAPAN

SETTLEMENTS URUGUAY

VENEZUELA

Commercial and Travellers' Letters of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers bought and Bold. Gurrent accounts "and Savings Bank accounts opened

and Fixed Deposits in local and for- | eign curreneles taken at rates that may be ascertained on application to the Bank.

Every description of Banking and

Exchange business transacted.

TAN ENG HOOL,

Manager.

NEDERLANDSCHE HANDEL MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

BANKERS.

SITUATION.

The House of Lords. "Well, we also, sir, have suffer- Oc. ed another golfing difficulty."

Mr. Beaumont Pease, presiding at the dinner of the Bankers' As casionally within the last 12 sociation in London, at which the months the House of Lords has I don't like Lord Chancellor was the principal laid us a stymle.

(Laughter.) I should guest, called upon the Government atymics. to face squarely the highly critical like to see them abolished-I mang position of finance and commerce. stymiea-not the House of Lords I sometimes Bankers would do all in their (Loud laughter.) power to make effective the recom- think that I should like to take my mendations

of the Macmillian niblick to the House of Lords...! Committee if by so doing they I call it faith-It removes could hasten trade improvement. mountains. But as a distinguish- "Unemployment is stated to be ed Liberal politician said some the fault of the Government, al years ago, The House of Lords

deal of Bone Long Dios-1, Qusen's Bond Central though no Government, in my wants

opinion, has it in its power to (Laughtor.)

"On the last occasion of your Authorized Capital

cure this evil, whatever its power may be to increase It," said Mr. dinner you had the Chancellor of your guest, and Serve Ford Quilder: 40,016,000 J. Beaumont Pease, president of the Exchequer as

(43,334,589)

to tell your money the Bankers' Association, in pro ho was ablé posing the toast of His Majesty's secrets of which I know nothing BRANCHES – Bandjarmasin, Bentong, Boy, Government. The name of Lord and which are Greek to me.

Calcutta, Charibon, Plamber, Djok skarte The Hague, Jadi Robe, Sankey, who was the principal think you will expect me to tall Kote-Badin, Makassar, Medan, Pada guest, was coupled with the toast. Fou something about the immed

"We are all looking for light ate future, although I feel some on these highly difficult pro- hesitation in revealing Cabinet blems," the chairman continu.secrets.

Cald-Up Capital

Established' 1815,

Quilder 154,000,000- (212,800,000.]

Fabdars 86,400,0

(20,009,173)

Road Oos-AMSTERDAMTM Eselera Dead Office:-BATAVIA.

Bokerdem",

Bibolg

Palembang, Pekalongan, PozadĖ, Pontianak, Bag ROOD Barang (Gumaira) Sluga pere Bourse Soseskarta (Solo), Togai, Tilingus REČ Watzerndea“,

* The office bara sala depodi boxen 'to`lak, London Banks-National Provincial Bank Lid Correspondents all over the world Banking business el vrucy Amoripiloa transacted

A. STOKKINI,

Hong Kong, 18th August, 1900.

Hanger

THE BANK OF CHINA.

行銀

Reorganised October 26, 1928, under special charter of The National Goy INTERNATIONAL EXCHANGE

ernment as an

shifting.'

But

ed, "from the report of the Mac "There is another V-shaped de- millan Committee, soon I hope, pression approaching from the Stock Exchange. Weather will be to, be issued.

with considerable bright

"If it can be shown that thera dull but is anything which bankers can periods. legitimately do to hasten an im issued. provement in trade. I feel con dent that this assembly will will ingly apply itself to the task.

one

Further outlook: Nono (Laughter and applause.)

Age of Unrest. "We live in an age of great social unrest, great economic diff Bonds of Sympathy.

culty, and great political instability. "There are many bonds of sym we are, in fact, passing through (pathy between banks and Govern

of those monentous changes ments. Both are blamed for

from era to ern, the meaning and everything that goes wrong, and direction of which is still hidden in these days there are not many from us. Our thoughts, our busi things that go right. Bad trade is said to be the result of unsoundness habits. and our way of life are all under-going revision. I monetary policy and credit res ...$25,000,000.00 triction on the part of bankers, sometimes wonder whether your 824,710,200.00 oblivious of the fact that the or profession of the law has experi-

enced most change."" -$ 8,920,603.82) dinary banker has nothing to do with monetary policy, and, further, that when these charges are made book on Lombard Street, in which jà very pleasing. picture was drawn his loans are frequently found to of the London banker, who, it was

BANK.

Subscribed Capital

Paid Up Capital Reserve Funds

HEAD OFFICE: SHANGHAI,

HONG KONG BRANCH:

4, Queen's Road Central.

Lord Sankey recalled Ragebot's

be much higher than in the past." said. "had the most intellectual

Both bankers and Government, society in the world."

Mr. Pease sald, were accused of They were told

We are also able to offer our Cas- Owing to our numerous branches in tomers the services of the Branches China and large connections, in the im-extravagance.

"When I look round this a8- sembly I don't think there has been any change in that res- pect," said Lord Sankey. "But he also goes on to say that the banker has much spare time

j

ing a famous song and saying '1

dreamt that I banked in marble halls."

ment,

HOME PRICES EASIER.

The following reports have been supplied to the Hong Kong General Chamber of Commerce by Import-

ers:

"You see the whole trade of the country," Lord Sankey added. "you know its needs.

You can

Cotton Piece Goods & Fancy Goods. Business is reported in Black help us--you do help us. You can advise. us-you do advise me, and sometimes very pertinently in the Poplijs Black Cotton Venetians, annual statements of your respec- Black Cotton Coatings, etc., for tive chairman, and we are none August-September .shipment. There the less grateful: But what into are also enquiries in the market

Where are be your Que Vadis?

for White Mattings although little you tending? I cannot help re-or nothing appears to have been marking that the banking business booked in this style. Manchester of this country seems to be get prices are considerably easier. ting more and more concentrated" into a few hands. I remember an old rhyme which ran, something Six big bankera anxious to gur-

vive.

liko this:

..

Two became amalgamated-then

there were five. “ "Perhaps I had better not go any farther and perhaps you had better not go any farther. (Loud laughter.)

some-

"Work."--Best Word for the Country "We live in an age of long words--amalgamation, rationalisa- tion, socialisation, and I times venture to think that the gentlemen who are fond of those long words are a little apt to make dogmatic statements in obscure I prefer a very much language. shorter word, a very good old Eng- lish word, a word which I think; you will agree with me is the best word for the country at present.

as

The latest Cotton quotations to

follawa-Middling American hand are those of the 12th instant

Spot 4.76d., F. G. F. Egyptian Sakel. 7.55d..

Woollens.

ro-

Further business has been ported in plece goods but mainly increased quantities on standard lines booked in bulk some weeks | ago.

In the main the bookings are comparatively small. Both Brad- ford and Continental prices for piece goods and yarns slow a slightly easier tendency,

Metals. Home and Continental Prices down; also,local market.

Canadian 30,000 bags.

Flour,

Stock: American 400,000 baga, 80,000 bags, Australian Market: Very weak.

UNCLAIMED TELEGRAMS.

The following unclaimed tele- It is not amalgamation. It is gram is lying at the office of not rationalisation, and it is not the Great Northern Telegraph socialisation-it is Work. (Ap- ¦ Compány (Limited) of Den- plauso.) Plenty of work and mark:- the heart to do it. (Hear, Honabcotco, from Shanghai. hear.)

We all of us are sorry for those men who are tramping about the streets with aching hearts and of the International Banking Corpora-portant commercial centres of the they paid too high dividends tion in San Francisco and Spain and world, we are able to extend to our some of them; that they paid too

weary feet, seeking for work. But alea of The National City Bank of clients special facilities for domestic much to their staffs and expended

work will come, plenty of work New York (France), S.A.. in Paris and foreign banking and exchanges, too much on their premises. In and Nics.

We also handle the issue of Bonds fact. that they spent too much that I doubt nowadays-and that But my anxiety is, and your an will come... Of that I have no fear: and other Publia Funds of the Chin- est, Government. both at home and upon everything except on interest his neighbours know him and xiety is, while many are waiting abroad.

to their depositors. There was an trust him because they see his for work they may be losing the other form of extravagance about daily manner of life. What a will to work. That is the real which nothing was said, and that change from the London banker to danger of Britain.. was the number of services which they gave away for nothing..

F. McD. COURTNEY,

Manager. Hong Kong, 20th. February; 1981..

THE

AMERICAN EXPRESS. COMPANY,

Birin

-ING.

Head Offee: 65, Broadway, New York.

U.S.$6,000,000 .U.S.$1,572,454 U.S.$1,008.209

SHOU J. CHEN,

Hong Kong, 6th March, 1931,

Manager

THE BANK OF CANTON, LTD.

Established 1912.

National Spending.

"You know," the Chairman went on, how much or how little sert ousness there is in these charges, and Lord Sankey; I have no doubt, will shortly endeavour to explain to you how. little truth there is in 6.600,000 the charge of extravagance against the Government. Whether he will Ceston, Shanghai, lankan, Swalew, convince you I am in some little doubt, because I think among hankers and many others there is

Head Oce:-Hong Kong.

'Authorised "Capital (IL.K. Chirunny) $11,000,000 Pald-Up Capital ashramnotandan Reserys Fund

BRANOHRG:----

1,100,000

Bangkok, New York and Ban Francisco.

CORRESPONDENTS

LONDON BANKERS |---

-The Lloyd's Beak, Limited,

principal cities of the World.

Poreign exchange and booking “busirasa of

disciplina iramasosad

a very general and serious convic tion that we as a nation are spend-

Safe Deposit Boxes Curious aises) at a yearlying much more than we can afford.

Manager.

Capital Surplus Reserven

Hong Kong, 1st May, 1931.

BRANCHES

Amsterdam

Aans Baile

Con Glasgow KAYACH

Har

Bart

Bomber

1thcet

Interlaken Jertelem

Nine Saplos Pixeous Pacia Toda Paking Palerm

In

Bread

Lido

Rotterdam

Brusela

London

Bite Alar

Liverpool

Cairo Caloutta CALL

Lucerar

LUSADO

Luxor

Moxia Carlo

Munich Montreus

Established 1880.

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

.Yan 116,000,000

Head Office:-YOKOHAMA.

Branches and Agencies at:

Alexandria

Batavia

Berlin

-Bombay

Calcutta

Canton

Chungchun

Manila Nagasaki Nagoya

Newchwang

New York Osaka

Pelping

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

San Francisco

Hamburg

Hankow Harbin Hong Kong

Honolulu Kai Yuen Karachi Kobe

London

Los Angelea.

· Lyons.

Cototebo Constanthople

Сидеть

112

Bome Stamboul Shanghai deytkamples

Singapore M1. Morits Tisla

Viena

Ceniza

Fokahatos Zurich

Florsbas

Branches of American Express Company in Principal cities of Unit- ed States of America and " Canada,

All classes of Commercial. Banking Transactions undertaken.

Seattle

Personal investment handled.

+

Semarang

Shanghai

Shimonosold

Singapore Soerabaya

Sydney

Tiantain

Tokyo

Tsingtau

Laterest allowed on Current Ac counts.

Deposits received for fixed perioda at rates to be obtained on application!

...HL. MORI,

Manager.

Hong Kong, 11th April, 1981.

patel of from 33 to $40.

LOOK POONG SHAN,

Chief Manager,

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

HEAD OFFICE:-Talpak, formoss,

Incorporated by Special Imperial Charter, 1899.

ل مسلمة

Central Bank in Foo Bank-Notes uued Average amodzi „..Kan. 45,000,000 BRANCHES AND AGENCIES: account JAPAN:-Tokyo, Tokohama, Hobs, Caska,

Kartako, FORMOSA -Draze, Engi

Makong, Nadio, Edickku, Talihu, Talaam, Takao," "Tammal, „Town, Halia, False, Swalow, Canton oxers-Hong

and that the position Is becoming yearly more dangerous,

"The message I would ask him to take from this gathering of bankers to the Government, of which he is a member, is this:---- "We believe that the finan cial and commercial condition of this country is highly critical. We do not believe that that con- dition can be met by merely marking time and hoping for better things. The position must be faced, and must be fac ed squarely...

If we, as a nation, are spend. ing more than we can afford, as I

The Company offers to intending || CHINáz-Blasghai," Hankow, amor. Foochow have already hinted, it must stop.

Travelers the use of its "Travelers Cheques" and Letters of Credit and,

In addition, the world-wide services

· Semarang,

Bingapor London, New York, Dalisa, D LONDON BANKERS:

Caloutlas

Soarabaya, Bankers know of only one end to such a course, if continued suff-

of its thoroughly equipped Travel Da- The London County Wacunditat and Pan's Bank,cantly long."

partment

Afiliated, with

The Bank has Correspondinate in all tka prizelpat Commercial Centre throughout the world.

"THE CHASE NATIONAL BANK | HONG KONG BRANCH

Resourcos.Over $2,500,000,000

K. MAGURA.“

Den Tana Bond Can!

Hong Kong, 19th January, 1996,

C. BENSON,

General Manager.

THE BANK OF EAST ASIA, LTD.

Established: 1918.

HEAD OFFICE:

10, Des Voeux Road, Central.

" HONG KONG.

Capital and Surplus

over H.$ 8,000,000.00

over H.380,000,000.00)

Total Resources

Every, description of Banking and Exchange business transacted.

Current and Fixed Deposit Accounta in local and for- eign currenclas opened for:""éllenta.

Havings Account, and Safe

Branches and Arencies, al

YOU

Maneger

Lord Sankey's Reply. Lord Sankey, responding, con- gratulated Mr. Beaumont Pease on having attained the Presidency of the Association and also on hav- Ing recently been nominated -as Captain" of "this Royal & Ancient Golf Club,

The Lord Chancellor continued:. "Well, the Government has come pretty well through a rather trying. Winter, and our strength is well ARE INVITED TO INSPECT QUR, maintained. If you will permit

'STOCK OF

- ASIATIC FOREIGN AND

COLONIAL

POSTAGE STAMPS

IN SETS SINGLE PACKETS, BAGS AND IN APPROVAL SHEETS

GR

CO. Posture Stampa;

Pictures,

INDHAM STREET.

620% HONG KONGA

me to lapse into the language of the links, I think I can best ex- press my meaning.

We took office upon June 8, 1929. It will very soon be Jung- of 1931, and therefore, air, your goling experience will at ones point out to your that the post tion is this: we are two up and ... three to go...(Laughter.)97

Ram at al

that within not: THE

the Big Five!

"Let me tell you at once that

Finance a Science. "You invited me to. way a few after 40 years of weary waiting words upon banking. I can only and unswerving loyalty what a say it in general terms. Forgive pleasure it la to me to-night to alt me for saying that banking. Is not

H. EFFERSOE, Asig. Superintendent. Hong Kong, June 10, 1981.

The following unclaimed tele- grams are lying at the E.E. Tele- graph Co. Office, Hong Kong Alimony, from Hampstead. Anderson, Huntington, Stibba Road, from London.

Balfour, University, from Burn- ham Market.

Rita Wylie, Empress Lodge, Kow- loon, from Kensington, N.S.W

S. LACK,

Manager.

Hong Kong, June 11, 1931.

and so good to my throat!®

"Don't you adore that wonderful

Embassy flavor ?" Indeed.yes

and they're so

caressing to my throat!"

Embassy

CORK-TIPPED

YOUR THROAT LIKES THEM