1931-07-08 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Axherland Ompitat............

$70,000,000 Kémet' and Fully Paid-up. 820,000,000 Reeces Funda

Wetling menguji £ 8,300,000 Silva

0,000,000

Maserve Lish City of Proprietorem $30.005,808 BEAD OFFICE: HONG KONG.

BOARD OF DIRECTORS 1-

Hon. Mr. C. . 8. Mackie

Chairman.

-Soni, Mr. J. J. Patarson, Deputy Chairmas.

BLOK. Me. . . Bell, T. B. Pearon, Mog.

ak. D. Complain, Esq. 1. A. Flucismer, Esq.

́M; Landar Laria Zeq. T. II. B. Baw,

d. “Makla. Eng.

NOT

[.

ANGKOR

- ΠΑΤΑΤΕΣ

BOMBAY

CALOUTTA

CANTON

UFLEFOO

COLOMBO

J. P. Warren. Lag.

Chiel Wingof.

7. M. Grayburn, Ba

DAIBEN

VOGLIOS

KAIPHONG

HAMBURG

HANEDA

GAZEYN

KONOREW

FALLO

LPGX

FOLLORE

ZUIDE

KOWLOON

BRANCHES

KUALA LUMPUR

JI LONDON

1.YOND

MALACCA

MANILA

Kuan..(Johor)

MUKDEN

NEW YORK

PEIFING

PENANG

RANGOON

BLIOON

BAN FRANDIBO

BHANGHAI

SINGAPORE

BOCKADAYA

GUNGRI PATANI TIENTSIN

ΤΟΒΙΟ

THINGTAO

YOKOHAMA

Current Accounts opened in Local Currency and Fixed Dspoella reseired fox caF YE OF poster pacloda in Local Currency and, seling un terma which will be quoted on appilossiON. 2mg Kong, Wh Februwcy, 1301.

HONG KONG SAVINGS BANK.

The Busines of the above Bană la conduct

by the HONG KONG AND BILANGHAI Bulse may be BANKING CORPORATION.

obtained on application.

FOR THE HONGKONG AND BELANOMAT BANKING CORPORATION.

V.. GRAYBURN,

Hong Kong, 10th July, 1980,

Oblat Manager.

BANQUE DE L'INDO-CHINE.

V

HEAD OFFICE:

es, Boulevard Haussmann, Paris.

Subscribed Capital Frs. 72,000,000.00 Paid-Up Capital ...Fra. 68,400,000.00 Reserve Fands....Frs.102,000,000.00 BRANCHES: Bangkok Hong Kong Quinhon

Saigon Battambang Tue

Shanghai Gunthe Nam-Dinh Singapore

Thanh Tientain

Canton

Djibouti

"Mengtze

Numca Fort-Bayard Papceto

Peking Tourane Haiphong Hankow Pnom Penh Vinh

Hanoi

Pondichery Yunnanfa BANKERS:

IN FRANCE: Comptoir National 'Escompte de Paris; Credit Lyonnais; Banque de Faris et dos Pays-Bas; Credit Industriel et Commercial, So- cise Generale.

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

IN NEW YORK: J. R. Morgan & Co., French American Banking Cor paration; Guaranty Trust Co. of New Tack.

interest allowed on. Current Ac-! eeunts and Fixed Deposits according tas arrangements.

Every description of Banking and Echadge Business transacted. Bata Deposit Boxos to let

A. BONNAUD,

Hong Kong, 1st May, 1931.

THE YOKOHAMA SPECIE BANK,

LIMITED.

Extablished 1880..

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1851. HEAD OFFICE: LONDON. Paid-up Capital-

.£3,000,000

THE CHINA MAIL.

THE HO HONG BANK, LTD.

(Established 1917.)

HEAD OFFICE:-SINGAPORE. Hong Kong Branch: 25, Queen's Rd. C. Authorised Capital Strafts $20,000,000 Issued Capital

8,000,000 ..£4,000,000 Paid-up Capital ..

4,000,000

Agencies and Branches:

Reserve Fund

Reserve Liability of Pro-

prietors

123,000,000

Reserve abilities

of Shareholdern

Surplus

ALOR STAR

KUALA LUMPUR

(Malay Stules)

EUORINO

AMRITBAB

MADRAS

MANILA

MEDAN

NEW YORK

BAHOKOK BATAVIA

BORBAT

CA LOUITA CARTON CAWXPORN DEAU COLOMBO

D LIEN (TAE)

Bouschuria)

DELHI

HAIPHONG

HAMBURG BANKOW

(N. Manobarisį

PEKING

PENANG DANGOON

BEMARANG

BAIGON

BERENDAM

BEANGVAI

SINGAPORE

SITIAWAN

ПАЯВЕН

BOURABAYA

TAIPING (F.M.B.)

HÙNG XONG

TAVOY

TIENTSIN

TOKYO

(Bhukai)

THINGTO

YOKOKAMA ZAMBOANGA

(Philippine Irlanda)

FOLLO

iPOB

KARACHI

KLAXO

XonX

KUALA KANGBAH

(Parak F.M.B.)

Foreign Exchange and General Banking business transacted

Current Accounts opened and Fix- ed Deposits received for 1 year or which will shorter periods at rates ba 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.$226,037,392 |

Branches in:---

LONDON

}

ARGENTINE

COLOMBIA

MEXICO PANAMA

ISLANDS

BELGIUM

BRAZIL

CHILE

PERU

CHINA

PHILIPPINE

CUBA

PORTO RICO

DOMINICAN

STRAITS

REPUBLIC

INDIA

URUGUAY

ITALY

JAPAN

SETTLEMENTS

VENEZUELA

Commercial and Travellers' Letters of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers bought and sold. Current accounta and Savings Bank accounts opened and Fixed Deposits in local and for

at rates that ciga currencies taken 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- tion in San Francisco and Spain and also of The National City Bank of New York (France), SA, in Paris and Nice.

Mausger.

F. McD. COURTNEY,

Hong Kong, June 10, 1931.

THE

AMERICAN EXPRESS COMPANY,

Alaba Brela

INC.

Head Office: 65, Broadway, New York.

.U.S.36,000,000 .U.S.$1,572,456 .U.S.$1,908.200

· Manager,

Capital Surplus Kaserver

BRANCHES —

Amsterdamu

Geaca Olaga Harass

Kies

Naples

Pra04

Hamburg

Biri

Babay Bra

Bastos Airsn

Ex Interlaken Jarmalam Lido London Liverpool

Frang

Faking

Falerie

Celecaba

Ельовен

Lalor Marvelllow

Capital (fully paid-up) Yến 100,000,000 Beserve Fund

..Yen 116,000,000

Head Office:—YOKOHAMA,

Branckon wad Agencise st:

Alexandria

Batavia

Blerim

Besioay

Salentin

Canton

Changchen

Manila

Nagasaki Nagoya

Newchwang

New York Osaka

Felping..

Defiress (Daber) Rangoon Hengties (Makdon) Rio de Janeiro

Hamburg Enkow

Harbin

San Francisca Seattle Semarang Shanghai

Berlin

CostantinopleMonte Carlo

Edinburgh Florence

Kusion

МПа.

Bloklardas

Beme Stambo

Shanghel Bodilampics Singapore Sh. Morfia Tianlala Viacom

Tokokame Xurich

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

All classes of Commercial Banking Transactions undertaken.

Personal investment

· handled."

Elang King

Shimano oll

Hassabaka

Kai Yuen Karachi

Kabe

Loader

L

Los Angeles y

Lypes

Singapore Soerabaya Sydney "Tientsin

Tokyo

Tsingtau Eaterent allowed on Current Ac-

Cortals.

Depauds received for fixed periods ni znies to be obtained on application.

Big Manager.

Hong Kong, Lith April, 1081.

accounts

The Company offare to intending Travallers the use of its "Travelers

12

4,000,000

Commerce

Finance

and

+

U.S. TRADE WITH TRADE WITH

SOUTH

AMERICA.

LATIN AMERICA.

2,628,000 Commerce Department's

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

Every description of Banking and Exchange business transacted.

--TAN-ENG HOOI,

Manager

NEDERLANDSCHE HANDEL- "MAATSCHAPPIJ, N.V.

(KRTHERLANDS TRADING BOCIETY)

1

DANKEES.

Established 1894..

Authorised Capital ... duilders 180,000,000-

(813,800,000.)

causes

Statement.

BRITISH EXPORTS.

his address

at

WEDNESDAY, JULY 8, 1931.

CAUSES OF THE

DEPRESSION

Dr. Sprague on Two

Schools of Thought

THE BANKS' VIEW,

An important statement on the

Following Up Buenos world economic crisis was made by

Aires Exhibition.

Dr. 0...M. W. Sprague, economie adviser to the Bank of England speaking at a luncheon of the Eng-

.more

WAS

All accounts of the British Em-lish Speaking Union. pire Trade Exhibition at BuenosDr. Sprague said: "I have re- Amorica, The tremendous increase in the Airas agree that the effort was well cently returned from trade of the United States with timed and that a notable effect on where I would gladly have dis- Latin America since the World War the volume of trade between Great covered some signs of economic re-

Washington to Britain and the Argentine may be covery. is attributed in

from looked for, says the journal of the

"I must confess, however, that somewhat different. those which wore omphasized Federation of British Industries was utterly unable to find any such by the Prince of Wales in It is too early to place any parti-sign, but I did find all sorts of in- Manchester. cular figure on the value of the dications that the depression is The increase in question, it was Exhibition to British trade, but that becoming

acute, if not contended, has not been at the ex-the results have already been con- chronic

siderable is beyond question. The "Two years ago it would have Ron Kour small, Queen's Hood Capende of British trade.

"Before the war," George J. Eder, Prince of Wales has not confined been difficult to talk like this," be- chief of the Latin-American section his own great services towards the cause at that time America of the division of regional informa-success of the enterprise to what enjoying an abounding prosperity. tion of the Department of Com- he did while in South America. He But now America is in the same merce, states, "the United States has lost no time since his return in boat as the rest of the world, ex- stood second to Britain, followed setting an example in the art of periencing the worst depression BRANCHES - Bandjaemia, Bando, Bomber closely by Germany and France, in following up," by addressing the certainly of this century and per- Akaria The Hague, Fedde che trade with Latin America. To-day, business men of the country and hapa in recorded history. Tola-Balls, Makna, Madan, Paint the United States solls more than urging them to activity in taking

No Agreement. Palembang, Fakalongan, Fasana. Pontianak Hangoon Boterdam Britain, France and Germany put advantage of the opportunities now!

"There is no agreement either Samarang, Shanghai, Sibel together."

offering.

about the causes or the remedies. Members of the F.E.I. Delegation One school of thinkers, who exhibit to the Exhibition are now mostly a great variety among themselves, on their way home and plans are might be styled the monetary being matured to put into effect the school. The rest might be grouped resolution of the Grand Council of under the heading of the industrial April 8, to do everything possible or economic equilibrium school. to follow up the lead given by

"The monetary doctors prescribe!

Paid Up Captial man Guilders || 60,098,000 (ALM0,170) Reserva and Caldera 60,018,000

Head One:-AMSTERDAM^ Exelon Head Ofoe—BATAVIA.

Delcuits, Charbon, Dimbat, Diok

Bonrebels,

(Batman), Singapore, Boerakarta (Bola), fagaí, Tjiising and, Weltevreden

• Tiver offoss bara safe dapori bozas to lek.

Corresponden all over the world

Banking business of every

` description tratanted.

A. STOKKINK,

Hong Kong, 18th Augosi, 1986,

Mangit.

America First.

"In Argentina, where, before the London Basher-National Provincial Bank Ltd. war, the United States ranked third, following Britain and Germany," Mr. Eder continued, "we are to-day the leading supplier of that market in spite of the fact that British, rail ways and other investment inter- the Prince. Already the Executive that the central banks, such as the ests there buy their supplies ex- Committee have setup a special Bank of England, the Reserve Bank clusively from Britain whenever Argentine Committee, and it is of New York, and the Bank of possible. These British interests proposed to form a group of all France should get together and represent an Investment. aggregat Members interested in trade with

THE BANK OF CHINA. 行銀 中

BANK.

$

and currency.

would be set to work...

CLAREMONT

PRIVATE HOTEL Austin Road, Kowloon. (Facing the Kowloon Cricket Club. Four minutes from ferry by bus.) Suites of reams (single and double), bot and cold water aystom, all mudern sanitation, private bathrooms attached.

EXCLUSIVE TABLÈ ‚· entirely under European management. flotel has a splendid aspect in one of the finest locations in Kowloon, away from nolsa, yet easily accessible.

Terms very moderate. RagervA- tions by letter or cable.

CLAREMONT

Tels.: 57389 & 57385 (Private), Telegraphic Add.: "Fern" H.K Our motto is "SERVICE."

ALEXANDER'S INSTITUT DE BEAUTE.

Marcel Waves.

ing some $1,800,000,000, as against the Argentine with which the agree to flood the market with n American investments of $332,- Committee can keep in touch with great amount of additional credit Reorganised October 25, 1928, under (000,000. |

a view to securing the benefits of

"They hold that in that event special charter of The National Gor-

"British exports to Argentina the work initiated at the Exhibi- prices would cease to fall, and a ernment as an

have not diminished as compared tion.

large amount of additional invest-Lustrous Of Permanent, Finger and INTERNATIONAL EXCHANGE

Hair Cutting and with pre-War sales, if we except It is significant that American the abnormally low values of 1930. interests in Panama are much con- ment would take place, and people Manicure for Ladies and Gentlemen. ....$26,000,000.00 But, United States exports to Ar- cerned at the possibilities of the "The central banks could do that Opposite entrance Hong Kong Hotel. Pedder Bldg., 1st Floor. Phone 25169. $24,710,200.00 gentina have more than trebled in British bid for South American if they were convinced that it was $ 3,820,603.82 that period.

CHARGES MODERATE. In other words, we trade. As a counterblast to the advisable. There is no obstacle in have not taken trade away from British Empire Trade Exhibition the way on the grounds of an In- Britain which has managed to hold and other efforts they are discuss-sufficiency of gold. her own. The increase in our exing the establishment of a per- "But unhappily those in charge ports represents shipments of new manent exhibition of United States products, such as automobiles, goods in Panama City, the Panama electric refrigerators, radios and

Subscribed Capital Paid-Up Capital Reserve Funds

HEAD OFFICE: SHANGHAI.

HONG KONG Branch:

4. Queen's Road Central.

Owing to our numerous branches

put it, "the cross-road of world's trace routes."

the

of these three institutions are not convinced that that policy would

China and large connections in the mother commodities, which Great Canal being, as one authority has serve to meet the exigencies of the portant commercial centres of the Britain itself and its Dominions world, we are able to extend to our are forced to purchase from the clients special facilities for domestic United States and which they are and foreign banking and exchanges.

We also handle the issus of Bonds not in a popition to supply for ex- and other Public Fanda

the Chin- Port." and Government both at home and abroad.

Head Office:Hong Kong.

Authorised Capai {ELK. Overenog)' @11,000,000 Faid Uy Capital enemmnerima Besser

1,500,000

PRICE OF METALS,

The Decline of Raw Materials.

present situation.

Bankers' Picture. "Curiously enough, all the responsible people connected with the great central banks of the world hold the Industrial equili- brium theory as the true explana- tion of the present difficulty.

"They do not bellave that simply New York, June 17.

by injecting more Currency and 'The Journal of Commerce shows credit into the situation they can that the prices of raw materials certainly bring about a desirable have fallen in the past 22 months rise in prices and activity of busi- 80 per cent., metals in particular nese.

– M

British Exports. According to a study made for SHOU J.. CHEN, the Carnegie Endowment for In- Manager.ternational Peace, only 14 to 28 Hong Kong, 5th March, 1981.

per cent. of American exports to Argentina can be considered in competition with British exports. THE BANK OF CANTON, LTD. Trade building efforts, such as

Established 1912.

those of the Prince of Wales and the British Empire Trade Expost being affected. But it is to be "The banker pictures the situa- tion, it is concluded, need there noted that the price of nickel has tion like a block of granite or mar- fore cause little concern to the not changed · for six years. ble tilted at an angle of 85 to 40) average American manufacturer Aluminium has fallen 5 per cent, degrees. To put a lover under it and tin sheets show only a retro would not at that angle raise it engaged in that business.

grade movement of 8 per cent. in very for; it would either fall back the past 18 months. It la stated that upon us or the lower part would Producers of the metals that have sink deeper into the mire. now fallen befow the lowest prices of the century ought to draw a

an equilibrium, because if we can lesson from the experience of the get that there is no dificulty about stable metals mentioned above, in which industry finds Itself mono- polised or extremely concentrated.

BURMAH OIL DIVIDEND.

und 13410

6,845,800

BRANCHES Chalon, Shanghai, Hankow, Uwaśow. Bangkok, New York and San Francis

DORRESPONDENTS

LONDON BANIZES |--

The Skard's Bent, Elmised,

In all palasipal "odiles of the World.

Wilen szobags and banking business of very dance!ption transactal.

Safe Deposit Bonn (yarlının alane) së u ponały rental of from 2 to $40.

LOOK POONG, SHAN,

Chief Manager.

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

HEAD OFFICE:-Taipeh, Formosa.

Lacorporated by Special Imperial Charter, 1899.

F

Central Bank in Farnos

**BRANGERS' AND ADEKOIES; JAFAN :—Tokyo, Tokohama, Kobs, Osies. FORMOSA thisan. · Kagi, ... Haraka,

Bank Woks and Avarage amounts. 15,000,000

Chalang.

FINANCIAL WISDOM OF THE WEEK.

"Rubber Essential to Civilisation."

J

Mr. Ramsay MacDonald, P.C.. M.P.-There are too many forces of separation in the world to-day try-

"The great thing is how to get

an upward movement of prices.

A VISIT WILL CONVINCE YOU.

SANDY MACDONALD

SPECIAL LIQUEUR,

"In the judgment of the bankers we shall not get satisfactory bor rowers in large and lacreasing ARE numbers for increasing amounts until we can somehow or other getj The Barmah Oil Company is paya better equilibrium of prices and] a better distribution of labour and capital than we now have."

ing to break abruptly with the ing a final dividend for 1930 of 12% pagt, whose way is by revolution per cent., against 20 per cent. a year and legal or physical force, and ago, which makes 221⁄2 per cent. for the Empire is peculiarly open

to the year, against 30 per cent. Net their attacks.

prosts: amounted to £2,736,013,

DUTCH COTTON Mr. Stanley Baldwin, P.C., M.P. which compares with £3,437,472 for!

The Competition of A coal stoppage at this time 1929, which was a particularly good

Japan in the East. would be an overwhelming catas year for the company. As usual, Nakous, Mexic, Bainskis, Talsh, sloan, trophe for the nation and a dead-allocations from revenue are of a

Amsterdam, June 17. Hankowy, oooowly blow to the economic life of the generous character, though not so The amount

In his inaugural address at the Borbar, whole country. Coal goes to coun-large an a year ago.

Dalia, trica Ilke the Argentino, Egypt, and charged for depreciation before Commercial University of Rotter

Scandinavia, and it is essential striking the prodt was more-name-

Takso, Tamani,. Toen,. Hallo, Talto. CHINA-Shanga

Buslow, Canion OTHERSTM-Hoog

BASE Betaria Landen,Hew York, Dalea, K

EDNDON BANEHRS;

Cheques" and Letter of Credit and The Lendas Docuły, Wazimulasine and Puer's Bank when they contract for coal that fly, £580,914, compared with 2698,-dam, Mr. Wisselink, a cotton ex-|

In addition, the world-wide 'services

of its thoroughly equipped Travel De Bank has Corpodeals in all pets they should know they will have it 456. A sum of £500,000, has again ment of the cotton industry of the

partment

Affiliated with

THE CHASE NATIONAL BANK

Resources

Over €$2,300,000,000

C. H. BENSON,

General Manager,

THE BANK OF EAST ASIA, LTD,

Established 1918

HEAD OFFICE:

10, Des Voeux Road, Central,

HONG LONG

over H$ 8,000,0 over IL$80,000,000.00

(of: Banking, and Exchange, business

sosit Accounta in local and fors

Conansarniać. Opnim ibibigbook, the world.

K. NAGURA

Cambrai.

BONGKONG SHANGH

Hong Kong, D. January, 1998,

THE MERCANTILE BANK OF INDIA, LTD.

HEAD OFFICER 15. Crest Bei, Londen, -2.08.

Authorised Capital $3,000,00 Subscribed - Capital. 1,800,000 Pall-up. Capital ...... 1,050,000 Reserve Fund and Rest 1,650,845

© Thy, Bank of England & Midland Bank, ZAL”, SARAWAN BRANCHES :

Fueng

Fort Louis

Hong Kong “ Insules (Fabang) Einga

¡reserve.

Το

fields

He

pert, commented on the embarrass- been placed to general reserve and Netherlands, which is being ousted delivered

Sir Walter Layten, C.H. Such £20,000, as before, goes to insurance little by little by Japan from the

expenditure data as are available do not sus equalization reserve '£100,000 is al-markets of the Far East gest that Great Britain is more vulnerable to the influence of trade lotted, the corresponding allow stressed the view that the annual ences last year being $150,000, output of 200 million forina ought depression than are other Indus. Twelve months ago the directors ap to continue, to be meant primarily trial nations, and if the depression has affected Britain only in the plied £500,000 in writing down the for export. The speaker, declared shares in subsidiary companies. that it is urgent to create manufac same degree as the rest of the No further provision of the kind is tures in the Netherlands Indles world, I see no reason to doubt made now, but £850,000 (against which would make a reduction in that Britain will share equally in) is placed to taxation reserve net cost possible, the recovery when it comes. The carry forward, which last

Mr. James A. Farrell, United Statca Foreign Trade Counell 400,000, is now further increased

year was raised from 161,000 to HONG KONG HEIGHTS Europe still, has before her. the Ito $612,000. problem of lowering costs by juonta

Always Serve SANDY MAC'S

SCOTCH

WHISKY

Obtainable

Everywhere.

HARDY MAG

Sole Agents:

H. Ruttonjee

& Son.

YOU

INVITED TO INSPECT OUR

STOCK OF

ASIATIC FOREIGN AND COLONIAL

POSTAGE STAMPS IN SETS, SINGLE PACKETS,

BAGS AND IN APPROVAL SHEETS.

GRACA & CO., Dialers in Postage Stamps, Philatelie Goods, Pictures, Postcards, Toys, &c. 10, WYNDHAM STREET, 1,0. Dox No. 620. HONG KONG.

For the Information of visitors following list some of the

etency

A prosperity returns, an Mainland is published:-- Mr.HA Reincke, chairman, Mr. L. J. Reid, Assistant Editor, nato Island." Willian Beardmore and Co., Ltd.-- the... Economist —The submarines Victoria Peak There never was a time when there brought America Into the War; but Signal Station was "a" greater call for highly the American tarifts have – sunk Mt. Parker ... curlined salesmanst

And more cargo ships than a fest of U Mountain Lodge" Sir Ernest Oppenheimer chair- boats.

My The Eyrle 54 ration Mr Cyril

chairman, Peak Hotel Jorga Estate, Ltd Rubber Ik so] Paikoo Sanatorio

vilisation that there Mt.-Davis:

means of greater industrial eff-sumption can broaden only as highest points on the and YOUR SAFEGUARD

man,

of South

of the Bowen Road

Feet

1928

#1774

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Kowloon