1931-07-07 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

&torted Explai

$0,000,000 Lodged and Polly Feldup. kom.: 190,108,808

Punda 1- Werling......

adver

4,800,000 $10,000,000

Baierra Timeülty of Propelatore' m (30,000,000

HEAD OFFICE; HONG KONG,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858. HEAD OFFICE: LONDON. Paid-up Capital

|

THE CHINA

THE HO HONG BANK, LTD.

(Established 1917)

HEAD OFFICE:--SINGAPORE, Hong Eonr Branch: 12 Queen'. Bị. 6. Authorised Capital, Straits $20,000,000 Issued Capital

£3,000,000

Reserve Fund

.$4,000,000

Reserve Llability of Pro-

prietors

Paid-up Capital

£3,000,000

Reserve Liabilities

Agencies and Branches:

of Shareholders.. Surplus

ALDE STAR

HUALA LUMPUR

(Malay Blat!

:

. KUCHING

MADBAN

BOARD OF DIRECTORS:

Five. Mr. C. 0. 9. Maskia. Ohaioas

I oai the, 2, 3, Pakanon,

Deputy Chairmata.

-Hom. Kr. 7. H. Ball, T. B. Fouros, Beg,

A. H. Compton, Esq. 7. A, Pturama.

Lauder Lawis, Esq. T. H. R. Shaw, R.

»Ů. Klakis, Eu.

J. P. Warros,, Ken-

Chia! Manage.

V. M. Omylum, Ess

DRANOKES:

LONDON

VITRAB BANGKOK

BATAVIA BOMBAY GALJUTTA CANTON

DAWNFORB

CEBU

COLOMBO

RAIBEN (Dairy

Bouth Manskarts)

DELHI

BANGKON

BATAVIA

BOMBAY

CANTON

ПАЧЕНКО

MANICA

MEDAN

NEW YORK

PRKING

PENANG

BANGOON

BAIOON

BEMARANG

BEREMBAN

HAIPHONG

BILANGHAI

BINGAPORE

HANKOW

MITIAWAN

BOURABAYA

(15. ManohariK]

TAIPING (7,M,B}

TONG TONG

TAVOT

ILOILO

MANILA

[PON

MUAB (Johor)

LYOKS

MALAOCA

CALOUTTI

CHEFOO

COLOM

DAIBEN

MURDEN

NEW YORK

FOOCHOW

BIAIPHONG

KANDUNG

WANKOW

BARDIN

KIUNOKEW

ELGILAY

X100

JOHURE

KODE

KOWLOON

KUALA LUMPVA

РКІРЕНА

PENING BANGOON SALOON

BAN FRANOLO

SITANGELAL

SINGAPORE

SOURABAYA

BUNGEI PATANI

*TIENTUIN'

TUKIO

-TSINGTAO

YOKDIAMA

Current Accouule opened in Local CarrensT and Fland Deposite racired for as the Whorter period in Lost Currenty and serlig as are which will be gooted in applicati Heng Kong, 29th Febramy, 1891.

HONG KONG SAVINGS BANK.

The Business of the store Back in conduct.

ed by the HONO KONO AND, SHANOMAT BANKING CORPORATION

sableled on application.

Balas may be

FOR THE HONGKONG AND BILARGIAI BANKING GORPORATION.

V. M, GRAYBURN,

7

Hong Kong, isih July, 1990,

Chlef Manager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

96, Boulevard Haussmann, Paris.

Subscribed Capital Frs. 72,000,000.00 Pald-Up Capital...Frs. 68,400,000.00 Reserve Fanda ....Frs.102,000,000.00

BRANCHES: Bangkok Hong Kong Quinhon

Saigon Battambang Hue Tanthe Menrize Shanghai Canton Nam-Binh Singapore Djibouti Numea

Thanks Fort Bayard Papeete Tientsia Haiphong Poking Tourane Harkow

Pnom Penh Vinh Hanoi

Pondichery Yunnanfu BANKERS:

ENCO Paris; Crodit Lyganais: IN FRANCE: Comptoir Nations! Ranque de Paris et des Pays-Bas Credit Industriel et Commercial; So-

Sete Ganerale.

IN LONDON: The National Provin

& Union Bank of England, Ltd; Comptoir National d'Escompte de Paris; Credit Lyonnais.

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

Intereat, allowed on Current Ac cants and Fixed Deposits according to arrangements.

Every description af Banking and Exchange Business transacted.

Safe Deposit Boxes to let

A. BONNAUD,

HARDIN

EARACHI

XLANO

БОЛК

KUALA KANGSAR

(Park M.)

TIENTSIN

TOKYO

TONOBAR (und)

TRINGIAO

YOKOHAMA

ZAMBOANGA

Philippine Telenda)

Foreign Exchange and General Banking business transacted.

Current Accounts opened and Fix- ed Deposits received for 1 year of shorter periods at rates which will "he quoted on application.

J. STUART,

Acting Manager. Hong Kong, 28th May, 1831.

THE NATIONAL CITY BANK

'OF NEW YORK.

HEAD OFFICE: 55, Wall Street, New York,

Capital, Surplus and

Undivided Profits..U.S.$226,087,802

Branches in

ARGENTINE LONDON

BELGIUM

BRAZIL

CHILE

CHINA

COLOMBIA” CUBA

DOMINICAN

REPUBLIC INDIA ITALY JAPAN-

MEXICO..

PANAMA

PERU

PHILIPPINE

ISLANDS

PORTO RICO

STRAITS

SETTLEMENTS URUGUAY VENEZUELA

Commercial and Travellers' Letters of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers bought and abid. Current accounts and Savings Bank accounts opened and Fixed Deposits in local and for- eign currencies taken at rates that may be ascertained on application to the Bank.

We are also able to offer our Cus- tomers the services of the Branches of the International Banking Corpora also of The National City Bank of tion in San Francisco and Spain and New York (France), SA, in Paris and 'Nice.

8,000,000

4,000,000

4,000,000

2,520,000

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

Every description of Banking and Exchange business transacted.

TAN ENG HOOL,

MAIL.

Commerce and Finance

BANKING IN INDIA.

Inquiry Committee's Report.

The Statesman understands that

important recommendations affect Manager. ing the future of Indian banking and of foreign banks operating in India have been made by the Central Banking Inquiry Committee, who have just signed their report, in Calcutta.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

BANKENS

Established IBM. .·

Authoclaed Capital

Fald-Dy-Ospital

Gallers 80,080.000

TUESDAY, JULY 7, 1931.

BURMAH OIL PAYS 22% PER CENT.

The Profits Down by $700,000.

Although early this year It had

OIL IN GERMANY. been thought that the Burmah Oil

Interests Acquired by

Royal Shell.

Co., "might maintain the dividend for 1930 at the 1929 rate of 80 per cent. estimates have lately undergone revision and the market has been going for a total of from 20 per cent. to 25 per cent.

The more recent estimate has pro- Herr J. B. August Kessler, a ved near the mark, for the company + announced on May 14 a final divid- member of the Royal Dutch Sholl end for 1980 of 12 per cent, less Board of Directors, took the oppor tax at 38. 148. in the £, making, tunity of the launching of the new with the interim distribution, 224

Gold Shell, built tanker,

at per cent.

Preliminary figures of the past year's working accom- Brement for the Anglo-Saxon Petro,panied the dividend declaration. leum Company, to make a state- All fields expenditure has been ment about oil prospects in Ger- charged direct to profit and loss, and, after allowing for deprecia-

The inquiry was inaugurated in many. the Summer of 1929, and consider-

"It has turned out," he said, tion on refineries, felda electrifica-

Hong Kong Offon:-11, Qus'sing that it has involved an investi-that the German soll contains more tion, pipelines, etc., of £580,914, and provincial natural all than was supposed. In income-tax, etc., the profit for the economic any country which makes this dis-year amounts to £2,736,013, a de- and banking conditions in their covery & boom easily occurs as the crease of £701,459 as compared with rospective provinces;

simi-result of exaggerated. expectations. £8,437,472 achieved in 1929; the of We all know the results of such'allocations to general reserve and They mean waste of insurance reserve are again £600,- examina-booms. BRANCHES-Bodin, Zandong, Bombay, tion of witnesses, and consultation capital and disappointment: A few 000 and £20,000 respectively; to

Ennores Fund

gation

Guildən 100,000,005 (19,800,000)

by several committees into

the

lar

investigation by the Indian States,

(26,006,173) Builders' 49,010,000 (20,994,150)

Hand-Offs 1-AMSTERDAMO Eastern Hood Difos ¿--DATAVIA,

Celosia, Charbon, Dambe, Djuk

F

Bome

poorer.

Jakarin, The Hague, Fald, Rob with six foreign banking experts, people become richer, but many fields expenditure there is placed Kola-Radio, Makawer, Medan, Padar the completion of the entire pro

£100,000 compared with £160,000; Palembang Pekalongan, og

"I hope that Germany will avoid, a taxation reserve has been created, Pontianak Bangoon, Botterdam","gramme of work in the space of two Samarang Giangkal," Bourbon years must be deemed a notable the disadvantages of such exag- to which £350,000 is allocated; no- (Sumatra, Blogpon Boerakarta (dola), Tag, Tillsjep and achievement.

gerated estimates of its oil produc thing is written off investments in Walberreden”.

Meanwhile, prospects are subsidiaries, whereas they tivity.

For this written down in 1929, by £500,000. better than in the past.

To pay ordinary and preference reason the Royal Dutch Shell group has acquired an interest in the Ger- dividends requires $1,663,271, in max oil resources. We will do contrast with £2,018,781, and there anything in order to develop and remains to be carried forward

• Thons oflows have safe deposit boxer ta laki London Bankura —Builonel Provincial Bank Ltd. Corsepondents all ovis, the world Banking bualanes of avary description kanarial.

A. STOLKINK,

Hong Kong. 18th Augurk, 1000.

Желе

THE BANK-OF-CHINA.

行銀國咁

érnment as an

BANK.

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

INTERNATIONAL EXCHANGE

Subscribed Capital ....$25,000,000.00 Paid-Up Capital .*$24,710,200.00 Reserve Funds'... ..$ 8,820,503.82

HEAD OFFICE: SHANGHAI.

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

With regard to financial and other facilities for agriculturists and the need to take all possible measures to accelerate the growth and deve- lopment of. the co-operativa movement, the members of

difference Committee

of opinion.

Thy

also went. care- fully into the allied questions of warehousing, marketing, fixation of standards, etc.

lin.

were

the Committee had very little exploit these resources so long as it £612,517. against £399,775 brought

is economically possible."....

The Shell group has acquired ·Company's Interests.

Among the more important of some of the rights secured by the North European Oll Company in the the company's investments may be province of Hanover and the Free mentioned a large holding of Bri- State of Oldenburg; the latter tish and Indian Government securi- group, it le believed, is financing its ties, which figured in the own experimental Borings with the balance sheet at $2,676,945; 2,861,- purchase money.

1990 ordinary shares in the Angio-

With a view to the establishment of land mortgage banks for the pur pase of providing long-term loans

to relieve the indebtedness of the

propertied classes, the Committee, It is understood, have made compre- hensive, far-reaching and definite recommendations.

Industrial Finance.

CLAREMONT

· PRIVATE HOTEL

Austin Road... Kowloon. (Facing the Kowloon Crickst Club. Four minutes from ferry by bus.) Saltos of rooms (single and double), hot and cold water system, all modern sanitation, private bathrooms attached. EXCLUSIVE TABLE entirely under European management.

Hotel has a splendid aspect in one of the frest locations in Kowloon, away from noise, yet easily accessible,

Terme very moderate. Reserva- tions by latter or cable.

CLAREMONT

.Tel.: 57989 & 67885 (Private), Telegraphic Add.: "Fern" H.K. Our motto is "SERVICE."

A Teaspoonful

or so makes

a whisky

1929

and 'soda

Great

THIRST

QUENCHER.

The Sholl group is already boring Persian Oil Co., which, were valued in two places in Hanover, and also in the booke at only 11a. 8d. per near Rasstede, not far from the share; 700,000 shares in the B.O.C. town of Oldenburg, a neighbour Anglo-Persian Share Trust, reprs- hood in which Sir Henri Deterding sented by an equal number of was recently reported to have Anglo-Persian ordinary shares, bought himself an estate. A care which stand in the books at par; In regard to industrial finance the ful geological survey is being made 1,000,000 "Shell" Transport ordi- main tenor of the evidence of the for indications of oil throughout nary shares, and 50 per cent. inter- European Chambers of Commerce. Oldenburg.

est (500,000 shares of £1 each) in the Exchange Banks Association as There is naturally some specula- the Burmah-Shef Oil Storage and Owing to our numerous branches to well as of the Managing Governors tion as to the motives of the Shell, Distributing Company of India, China and large connections in the in- of the Imperial Bank, was that no group in taking steps to open up which was formed in 1928, being a portant commercial centres of the new proposals for the purpose were possible new oil resources (it la by combined marketing unit-represent- clents special facilities for hanges they were. In striking contrast to extensive) at a moment when pro- Dutch-Shell group and the Burmah world, we are able to extend to our needed and that things were best as no means certain yet that they are ing the joint interests of the Royal and foreign banking and exchanges.

We also handle the issue of Bonds this view, the Indian commercial duction is everywhere being cut Oil Co. and other Public Funds of the Chin-bodies expressed the opinion that down. ese Government both at home and unless industrial banks with a mea-

A higher return was received on abroad.

Deutsche Allgemeine the Anglo-Persian shares last year. sure of direct and indirect support Zeitung suggests that it is a great Accounts of the B.O.C. Anglo- Manager. from the Government were started,' advantage for a company, while Persian Share Trust and the India's industrial progress would high protectionist tendencies pre- Burmah-Shell Oll Storage, etc., Co, continue to be tardy and unsatis-vail, to be able to state that Ita pro- are only faeued to shareholders, but factory.

ducts are not entirely of foreign it is a fair assumption that the The foreign experts were not very origin, especially in the case of amount received from the former AMERICAN EXPRESS COMPANY, THE BANK OF CANTON, LTD. enthusiastic regarding the plea that petrol products for which there are was larger than in 1929. On its the State should undertake certain alternatives: Herr Kessler was in "shell" shares, the holding of which definite obligations or duties as re- fact at pains to point out in his was enlarged by participation in the gards industrial banks. The Com-speech how large were the orders offer made at the close of 1928, the Lustrous Of Permanent, Finger and mittee, however, have chosen a via for equipment that the Shell group yield was also greater.

Marcel Wavez. Hair Cutting and media, in the view that while indus- had already placed in

Manager,

F. MeD. COURTNEY,

Hong Kong, June 16, 1931.

THE

INC.

Head Office: 66, Broadway, New York.

Manager.

Hong Kong, 1st May, 1931.

Capital Surplus Reserves

U.S.$6,000,000 U.3.$1,672,464 U.S.$1,908,209

BRANCHES

KIN

SHOU J. CHEN,

Hong Kong, 5th March, 1931.

Established 1912

Head Ofce:-Hong Kong.

Authorised Capital (X.X. Currency) $11,000,000 Paid-Up Dupid thored and tend Basser Fundo do

BRANCHES,

The

$1,085,200 1.200.000

trial concerns should secure their since the War. capital requirements from the mar-

Carton, Bhanghel, Hankow, wow. ket, the commercial banks and the

Bangkok, New York and San Fransisce.

CORRESPONDENTS

Amsterdam

&tine

Genes

LONDON BANKERA 1...

Alasgow

The Lloyd's Bank, Limited.

Havana

Hamburg

Pirmais Parla

La all peincipal atins of the World

.Berila

Tenang

disciption

Biarrit

Bombay Benin Brass

[ollakan Jammalam Elda Loudon Liverpool

Paking

Filarmo

cania! of van 45 to $18,

Botterdam

Home

Bamboo)

Lucam

Lagano

Болов

Marsilios

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880..

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

Head Office:-YOKOHAMA.

Branches and Agencies at:

Alexandria

Manila

Be Alr

Katarin

Berlin

Bombay

Calcutta

Canton

Changchun

Hamburg

Hankow

Harbin Hong Kong.

Newchwang

Nagasaki Nagoya

New York Osaka Pelping

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

San Francisco. Seattle Semarang. Shanghai .Shimonosoki

Singapore Воставата Bydney Tientaln Tokyo

Honolulu

Kal Yuen Karachi Kobe

London

Los Angeles

Lyung

Tsingtau

Interest allowed on Current Ac-

Deposits recolved for fixed periods

at rates to be obtained on application:

E. MORIA

Manager.

Hong Kong, 11th April, 1981.

Cairo

Скасны Calocato

Copenhage 12mbungk Fornos

П

Cloelaniinopis

Monte Carla

Maslia

Series:

Kosz bilin

Shangbal dentham plom Erugapore Bi. Kos Dezila

Terms Texion Yokokans Burich

Branches of American Express Company in Principal elties of Unit

ed States of- America and Canada.

All classes of Commercial Banking Transactione undertaken.

Personal Investment handled

accounts

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.

Afiliated with

Cleavage of Opinion.

Germany

an

i

ALEXANDER'S INSTITUT DE BEAUTE.

A VISIT WILL CONVINCE YOU.

PHOTO - SUPPLIES

Kodaks and Cameras. Films, Plates and Papers, etc..

Developing, Printing and --

Enlarging,

That the market Was satisfied Manicure for Ladies and Gentlemen,. with the figures was shown by the Pedder Bldg., 1st Floor. Phone 25169. fact that the price of the shares Opposite entrance Hong Kong Hotel

CHARGES MODERATE. Imperial Bank should be able to it would be futile to draw up any rallied when the results became afford the necessary facilities in re- future programme for India's bank-known from 2 7-16 to 2 17-82, a Forsiga andangs and beatis bestas ofard to working capital, and indus-ing requirements, a. recommenda-setback in the afternoon being in trial banks, which may be hereafter tion for the early establishment of sympathy with the fall in other oil At the current price of Bate Deposit Bosse (Carlose slave) yowls established, should render sagista Reserve Bank of India is under shares.

2.7-16, the yield on a 221⁄2 per cent. LOOK PRONG SHAN, ance in the placing af debeatures stood to have been made.

It is believed that the pro- basis is approximately 9% per Chief Manager,jand other fixed interest bearing

In-cont posal for establishing securities.

dian Exchange Bank has been

Trinidad Leaseholds. ** A circular to discussed in much

shareholders of detail by The major Trinidad Leaseholds, Ltd., states the Committee. It is understood that there is à

ity, it is understood, favour that the trading results of the com- marked cleavage of opinion on the the establishment of an Indian Ex-pany for the nine months ended question of financing foreign trade change Bank only if the Imperial March 31, 1981, have received the Indian commercial bodies laid great Bank, after a few years of trial, consideration of the board, emphasis on the monopolistic char fails to satisfy the national aspira show a slight increase compared acter of the foreign exchange tions for a full-fledged Indian insti- with the same period of last year, banks in India, their alleged partial-tution for financing foreign trade. and it is anticipated that, for the Bank-House woord Average amounts. 43,000,000 ity for non-Indian business men Sir Purshottamdas Thakardas and full year, this position will be main-

BRANCHES AND AGENOTES: and arms, their policy of keeping certain other members are for stained. JAPAN :-Tokyo," Zokohama, Kobe, Osaka. -

On account; however, of FORMOSA Gİran, Kaarschoolung, the higher staff a close preserve for State exchange bank to be started the serious and continued fall in

Mekong Nanto, Balnak, loon, Tainta, their nationale, and, the serloous forthwith, while Mr. N. R. Sarkar world prices, revenue has neces Oursa Ghaghal, Hankow, Amor, Foochow competition they offered to the favours a State-aided shareholders earlly declined.

Taka, Tamu, Tosa. Halia, Tatto OTHERS-HoogKong Singapore Bouba, domestic banks.

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

HEAD OFFICE:-Taipeh, Formas, Incorporated by Special Imperial Charter, 1899,

Central Bank in Formone

·&wstov, Sanka, z

Bemarang, Baduris, •* Bombay-

London, York Daire,

LONDON BARKERS:

The

questions which were consid ered In this connection were whe

bank.

Imperial. Bank,

Salee

Substantial reduc- tions in expenditure have beari effected, but the estimated working profit, though considerable, will be The constitution of the Imperial somewhat less than that of the pre- The Bank his Correpondsole in all si priollowed to take deposits in India, who- Bank, its connection with the pro- ceding year, states the Financial Commarola Centres throughout the world.

ther exchange banks should be per- nosed Reserve Bank on the one News.,

The London County, Walter and Farr's Backther exchange banks should be al

THE CHASE NATIONAL BANKHONG KONG BRANCH

Resources..Over G$2,500,000,000

Manage

Bite B, Den Yakut Bood. Centred Hong Kong, Wh January, 1106

C. H. BENSON,

General Manager.

THE BANK OF EAST ASIA, LTD.

Established 1918.

-HEAD OFFICE!-

„10, Des Võsux Road: Central,

HONG KONGEST

Over $8,000,000.0

YOU

mitted to opan branches at places hand, and the Government on the, The polley of the board, the cir-1 other than ports; whether a system other, the extent to which the exist-cular, goes on,in considering the s of licensing should be enforced, ing restrictions are to be relaxed quesion of a dividend declaration whether any particular regulation and the conditions under which any must be governed by the trend of should be Imposed as regards the special privileges are to be given to prices for all proucts. The outlook Indianization of the staff, and whe- it received adequate consideration in this respect is still uncertain, ther to satisfy national aspirations and definite suggestions have been and, in the absence of hopeful signs any particular recommendation made as to the function of the Im Indicating any early improvement, ARE INVITED TO INSPECT OUR should be made for the establish- porial Bank in the new regime, the board considers it wise to pur-

(STOCK OF!

ment of an Indian exchange bank | Indigenous bankers and shroffs sue, for the present, Its policy of It is understood that the major- have found stalwart friends in Sir conserving the company's cash re- ASIATIC FOREIGN AND

ity of the Committee have not seen Purshottamade Thakurdas and Mr. sources, and to defer until later in COLONIAL

any reason to interfere with the D. P. Khattan and definite and in the year a decision as to the pay-- existing arrangements in regard to teresting recommendations, calcul ment of a dividend in respect of the the taking of deposits by Exchange ated, to link up indigenous bankers current financial year. Banks or their branches at up-coun- with the banking system of the The decision did not. try centres..

Be country, have been made, de AER

known during However, the Committee have What exactly would be the ad- hours and therefore had much to say on the question of the ministrative machinery that has to influ

"the Indianization of the staff of ex be created in the GAY

POSTAGE STAMPS

IN SETS SINGLE PACKETS, JBAGS AN IN APPROVAL

GRACA

on the need of Ind

ZIESS and BUSCH FIELD GLASSES

Price Moderate.

̈å Trial Order is Solicited,,

A. SEK & CO.

Tel No. 28459. ' 26A, Des Voeux Road, C.. Hong Kong.

COASTWISE

by

"ALGIE” BENNETT.

An interesting book. of Cartoons depicting "Happenings" on the China Coast

PRICE $1.00.

Now on sale at

BREWERS

EAWAY, LAIDLAW

BOOK STORE,

tions: for the