1931-08-25 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Lakberned Capital nena F8,000.mte Inayad and Fully Pull-up Baserri Funda i

Sheeting - £ 6,880,00%

--

$10,000, DER

Betatva Ltd. City of Propelelore .............. $376,190,000 HEAD OFFICE: HONG KORA.

BOARD OF DIRECTORA :- H. Mr. . (). B. Markle. Chairman.

Hoa, Mr. J. J. Paleraco, Deputy Chairman.

Mog. Mr. K. Ball, C. 2. Fearon, Bog

Coupon, Eag, J. A. Plummer, Zag.

• Bandar Lawin, Esq. T. II. 25. Pham, Bag.

< Stickis, Kan.

AMOY.

MANGKOR BATAVIA'

BOMBAY

J. Warren, · Log.

Oble! Wangy

V. M. Greybam, Jay.

SALOUTTA

CANTON

OHR250

COLOMEO

DAIKEN

FATPHORO

KAMUG

SIANHOW

HARMIN

RONIKEW

FLOTA

JOUGAR

RUSE

BOUT LAMMAS

BEANCHER:~~~

r.

A LUMPUR

LONDON

LYONK

MALACOA

MANIL

MÙAB (Jokate:

MUKDEN

NEW YORK

PELING

PENING

'BANGOON

BAIDON

SAN FRANCISC»

HILANGKA

SINGAPORE

BONBABA YA

HUNUEL PATAKS

TIENTHIN

TOKYO

TSINGTAO

YOKUHAMA

CALOunie opened in' Loca? Currency

"

ppt him Expoelle received for DHE TISS

pride in Loosi Currency and #hick will be quoted on sppilotina. Heng Stor. 29th February, 1581I. -

HONG KONG SAVINGS BANK.

The Busheet of the abors Esuk is conduct- by the HONG KONG AND BANGLAL WANKING OORFORATION. Bules may be obtained ca application.

FOR THE HONGKONG AND BUANGHAI BANKING CORPORATION.

VM. GRAYDUSN

Hong Kong, 18th July, 1990,

Chief Manager.

THE BANK OF CHINA. 行銀國中

Reorganised October 25, 1028, under

special charter of The National Gov-

ernment as an

INTERNATIONAL EXCHANGE

BANK.

Subscribed Capital. ....$25,000,000.00

Paid-Up Capital

Reserve Funds

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1853.

THE HO HONG BANK, LTD.

THE

(Established 1917.) HEAD OFFICE: SINGAPORE Hong Kong, Branch: 13, Queen's Rd. C..

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

Authorized Capital Straits 120,000,000 Issued Capital

8,000,000

Paid-up Capital

4,000,000

Reserve Liabilitlen

HEAD OFFICE: LONDON. Pald-up Capital Reserve Fund

of Shareholders Surplus

4,000,000

2,687,000

.£3,000,000 ..£4,000,000

Reserve Liability of Pro-

prietors

.£3,000,000

Agencies and Branches:

ALOB STAR

SUCHING

MADRAS

MANILA

MEDAN

AMBITBAH

BANOKON BATAVIA BOMBAY

CALOUITA CANTON CAWNPORE GEBU

DULOMBO DARREN DELL

LAIPHIONO BAMBUSO HANKOW TABBIN

HONG ONG

ILOILO

IPOH

KARACHI

HLANG

." KODE

KUALA KANGSAB

KUALA LUMPUR

NEW YORK

PEPINO (VSing) PENATO

RANDOON

SAIGON

NEMADANG

BEREMBAN

SHANGHAI

SINGAPORE

SITIAWAN

BOURABAYA

. TAIPING

TIENIBIN

TOKYO

Every description of Banking and Exchange business transacted.

TAN ENG HOOI,

Manager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

3aserve Funds

TONDEAR (Dburst

TЯINGTAO

BRANCHES: Bangkok Hong Kong Quinhon

Saigon Battambang line Gunthe Mengtze Shanghai

YOKOHAMA

Cauton

ZAMBOANGA

Nam-Diah Singapore Djibouti, Numoa

Thanh

Foreign Exchange

Banking basiness transacted.

...

CHINA MAIL.

Commerce and Finance

FINANCING IN THE U.S.A.

Agricultural Credit System.

Every (American) credit Institu-

DEADLY CHEAP IMPORTS.

Influx of Foreign Rubber Footwear.

Wherever we go we are met with

TUESDAY, AUGUST 25, 1931.

UNIVERSITY MEN IN

INDUSTRY.

Poor Salaries in Engineering.

PROFESSOR'S CRITICISM:

A reply to those who declare' the university graduate is of no use in industry was made by Professor C. E. Inglis, of Cambridge, on July 15, when he addressed the Institu- i tion of Mechanical Engineers at Cambridge, says the Manchester Guardian.

tion must take into account risks complaints, and very bitter com- 16. Boulevard Hatingmann, Faria.

Inherent in the business it would plaints, on the part of the rubber

Having spoken of the material In farming, these riska manufacturer, of the extent to Cambridge was sending out from Subscribed Capital Fra, 72,000,000.00 finance. Paid-Up Capital ...Frs. 69,400,000.90 are due not only to the unavoidable, which goods are being imported in its 500 engineering students, two- Frs.102,000,000.00 uncertainties to which farming into this country from places like thirds taking the honours course, he "In keenness and intel- a region is subjected, but also to Czechoslovakia and Japan at prices said:"

with which it is impossible to com- figence they compare most favour faulty credit management and to the moral risk inseparably asseci- pete, (says the Rubber Age). The ably with their pre-war brothers, ated with the individual borrower. complaint is not new, but the in- and recruitment for the engineer Every advancement in scientific diction from which it springs growsing profession never atood higher. The trouble My only fear, and it is a very real farming and in farm organisation daily more serious. and management that results in has been enormously aggravated fear, is that this excellent raw by the cheapness of the raw material may be apollt na its sub- greater net 'Income and in a morej dependable flow of income streng-material, which has enabled foreign equent treatment and the best of

early stage thens the farmer as a credit risk manufacturers, paying lower wages it diverted at an and gives to the credit institutions and keeping their factories busy other professions which appear to opportunities for better chance to meet his needs for longer hours, to produce at a offer greater

price that is irresistible to even initiative and ability. for production credit.

Fort-Bayard Fapeeto

Tientaln and General

Haiphong Poking Tourane

Pnom-Penh Viek Bankow Erdot

Gurrent Accounts opened and Fix ed. Deposits received for one year or shorter periods at rates which will te quoted on application.

J. STUART,

Manager. Hong Kong, 17th August, 1931.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

·HETHERLANDS TRADING 88CIETY:

BANKLUS

Established 1994.

Hong Kong Ofori-ii, Quwen's Bond Ongicel,

Authorised Capital * Guidezu 100,000,000- (13,500,000.}

(28.869.178)

· Pull-Up Capital Guildarı 90,000,000

Essures Fund ................ Gulldoze 40,095,000

Bland GAMUTERDAM® Rasiers, Boad Omos:—BATAVIA,

BRANCHERS —–—– Bandjarmasin, Bendosng", Bumbay,

Calcutta, Cheriton, Diember, Djok jakarta", The Hagia', Jeddah, Enze, Koin-Hadja, Mekassar, Medan, Padang Palmbang, Pakalangan, Parang. Pondsnak, Bangoon, Botterdam”. Bamarang Baanghai, Biboles (Bamsira),

Blagspars Boarson, Bouskaria (Balo)," Taga, Tillajap and Walloween

• tasse afloss kaya safe deposit boɛm to far, Condon. Bankara i--Bational Provincial Bank Lad Goermapondanta ili over the world

Banking business of avizy description transected. '

A STOKKINE,

...$24,710,200.00

..$ 8,920,503.82

Hosa Long, 115 korven, 190S,

HEAD OFFICE: SHANGHAL

HONG KONG BRANCH;

4, Queen's Road Central.

Owing to our numerous branches In China and large connections in the im- portant commercial centres of the world, we are able to extend to our ellents special facilities for domestic and foreign banking and exchanges.

We also handle the issue of Bonds and other Public Funds of the Chin- ese-Government both at home abroad.

THE

Mazagen

AMERICAN EXPRESS COMPANY,

INC.

Head Office: 55, Broadway, New York.

Capital Surplus Reserves

.U.9.36,000,000 .U.S.$1,672,454 .U.9.31,908,209

and

BRANCHES:-

Ameterdam Laswah &Chape Beals

Berila

Blurrie

Bombay

Bramm

Bre

SHOU J. CHEN,

Manager.

Hong Kong, 5th March, 1831.

THE BANK OF CANTON, LTD. Established 1912.

Head Office:Hong Kong.

Authorised Capilai (H.X. Currency) #11,000,000

Pad-Up Dapat m

Bonners Fund ..........

BRANCHES 1-

Tra

Buenos Aire

Calro

Dlouh

Canne Bolombo

Constantinopla

Copenhagen dinburgh

$1,000,000 1,100,000

Полипов

Siwaleur.

Danton (Shanghai, Hankow, Bangkok, New York and Bas Franzine

CORRESPONDENTS

LONDON BANKERS $ ---

The Lloyd's Beat, Gosited

Imati pelanipal citfan of the World!

Foreign azobange and beaifta bustames of wary option transestad

*Sde Deposit Bosse (Tarions alana) at a resiz read of from 50.

'LOOK POONG BHAN,

Chief Manager.

Glasgow Basburg Haves Interlaken Jerusalam

Londoo Liverpool

LONETAR

L

Maralitas

Monte Carlo

Meclis

Munich

st

Buple

2 Paris Loung Fokia Falaring Boserdarn Lome Buam boal babybal douthampto Bingapor

61. Morita

Tivalan

Yaz

Yokoham Yurios

Brauches 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."

accounts

Pondichery Yunnanfu BANKERS:

te Generale,

IN FRANCE: Comptoir Nationa d'Escompte de Paris; Credit Lyonnais. Banque de Faris et des Pays-Bas, Credit Industrial et Commercial; So-a IN LONDON: The National Provin. & Union Bank of England, Ltd.. Comptoir National d'Escompte de Paris; Gredit Lyonnais

IN NEW YORK: J. P. Morgan Co., French American Banking Car

peration; Guaranty Trust Co. of New York.

Every description of Banking and Exchange Business transacted. Safe Deposit Boxes to let..

A. BONNAUD,

Hong Kong, 1st May, 1931,

to

The merchant credit system of the most patriotically disposed "Too often the more brilliant of the South is one of the sore spots purchasers. The rubber manufac- the students after two or three in the entire agricultural credit turing industry la so important in years leave the engineering profes-

The stipend offered to system. The high level of bank Great Britain to-day that the case aion.

יו

+

rates in many agricultural districts for keeping out, or at least heavily junior technical engineer in com- is another sore spot Underlying taxing, foreign imports is as strong parison with what he could earn in both is the unsatisfactory financial as that for dealing drastically with other walks of life is usually ac or wheat. The meagre, that it is almost an insult Interest allowed on Current As condition of hosts. of farm bor-Russian butter

country is paying dearly in the to his intelligence and self-respect. counts and Fixed Deposits accordingrowers..

arrangements.

Much of the responsibility for dole for the privilege of cheap Engineering as a career for a man securing satisfactory production Imports, and as one manufacturer of education has now many rivals, credit rests upon the individual said to us recently, "You cannot and if it is to hold its own in this farmer. In addition to such im- expect the public, overtaxed as it competition it must recognise that Manager.provements as may be made now is to-day, to pay 9d. for something young men of first-rate ability ean- in credit institutions, further im- it can buy for 4d. It is a form of not be retained under a scale of re- provement in production credit is voluntary taxation to which John muneration which makes it impos. largely a matter of education in Bull is unequal, though he would aible for them to marry or enjoy better farming whereby more cheerfully pay 9d, if he knew that even the luxury of a first-class ill- farmers may approach or attain, he was saving something in taxaness. for example, the standard of our tion and that his neighbour was

for young men of exceptional master farmers; education in in-paying 9d: also." dividual credit management, per Public Should Know What They ability, and, having got them, not infrequently they have not the thrift, sonal responsibility and

Are Buying. whereby a portion of the returns It is very doubtful if any foggiest notion how they should be in good years may be laid aside as measures short of virtual prohibi- employed. You must give them atretch their a safe and reasonably liquid in-tion can stem the influx of cheap problems which

brains: you must give them re- vestment that will be available in rubber footwear from the Orient sponsibility at an early stage; and time of adversity, and education in and from those countries of South- collective action, a feld in which ern Europe where the scale of you must let them learn by making mistakes, In too many firms there the co-operative movement fa mak-wages is at a much lower level is buoyant layor of ability at than could be touched In this the bottom and another, buoyant

THE NATIONAL CITY BANK

OF NEW YORK..

HEAD OFFICE: 55, Wall Street, New York,

Capital, Surplus and

Undivided Profits ...U.S.$226,037,892

Branches fu;- ARGENTINE LONDON

BELGIUM

BRAZIL

CHILE CHINA COLOMBIA CUBA DOMINICAN

REPUBLIC

INDIA

ITALY JAPAN

MEXICO

PANAMA

PERU

PHILIPPINE

ISLANDS

'PORTO RICO.

STRAITS

SETTLEMENTS UZUGUAY VENEZUELA

Commercial and Travellers' Letters

ing large contributions..

"Firms are continually asking

CLAREMONT

PRIVATE HOTEL.

Austin Road, Kowloon. (Facing the Kowloon Cricket Club. Four minutes from ferry by bus.)

Saltes 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 o vas of the finest locations ja Kowloon, away from noise, yet -easily accessible.

Termas very moderate. Reserva- tions by letter or cable.

CLAREMONT

Tela.: 57389 & 57385 (Private). Telographic Add.: "Fern" H.K. Our motto it. "SERVICE.”

A Teaspoonful

or so makes

a whisky

and soda

Great

THIRST

QUENCHER.

The fact that many farmers who' country. Nevertheless the public layer at the top, but in between lald aaide a part of their earnings should at least be informed what there is a medium of high resis- in good years lost their savings in they are buying when they are tance and low permeability. A bank failures is a challenge to offered "ninepence for fourpence" few special posts might break down financial authorities to devise some in any line of goods. To the great that impassable barrier which in of Credit, Travellers' Cheques, Bills plan whereby farmers may safely majority of people a bargain will this country seeme to dehar men | ALEXANDER of Exchange and Cable Transfers

small earnings in always be irresistible, but there of technical ability and knowledge INSTITUT bought and sold. Current accounts invest their and Savings Bank accounts opened years when returns exceed current remains a minority with sufficient from becoming directors of the and Fixed Deposits in local and for- requirements. Mr. Erle Englund, sense of patriotism to be willing undertaking they have served. It DE BEAUTE eign currencies taken

to pay more for an article which is little short of a scandal to "find at rates that U.S. Department of Agriculture. may be ascertained on application to

carries a guarantee of having been how few men of technical ability the Bank,

It is, attain to this exalted station. The

We are also able to offer our Cas tomera 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.A., in Paris and. Nico.

F. McD. COURTNEY,

Hong Kong, June 16, 1931.

Manager.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO.)

HEAD OFFICE:-Taipeh, FormORK,

incorporated by Spécia! Imperial Charter, 1899.

Central Bank in Forno.

Back-Notes mued åverage samount (Yea, £1,000,00

JAPAN-Tokyo, Yokotacas, Robe, Ossip BRANCHES AND LGENOLES S

Karenko

Kasjung

The Company offers to intending Travellers the use of its "Travelers | FORMOJA, KAN Cheques" and Letters of Credit and, akong Nanto, Salsablko, Falcho, Taize,

Inko, Tamul, Toon, Helio, Taito. of its thoroughly equipped Travel De- Swiow, Canica, partment.

THENS Kong Singapore,

THE YOKOHAMA SPECIE BANK, in addition, the world-wide services CHINA-hanghal lankow, Amoy, Fouchow,

LIMITED.

Bemarang Batavia, Bombay. Delrue,

Established 1880,

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

Yen 115,000,000

Head Offices YOKOHAMA.

Branches and Agencies at:

Alexandria

Batavia

Berlin

Bombay

Calcutta

Canton

Changchun

Nagasak!

Nagoya Nowchwang

Now York. Diska

... Paris.. Palping. airen (Dalny) Rangoon Fengtier (Mukden) Rio de Janeiro

Hamburg

Hankow

Herbin

Hong Kong Honolulu

KIYden

Karachi

Kobe...

London

San Francisco -

Seattle.

Somerang A Shangha

Shimono old Bingspro

Sorrabaya Sydney Thankin Tokyo Teinstau

rest allowed on Garrent Ac

received for fixed perloda

·RE radi to Be"outained on application.

Hong Kong, 16th July, 1081.

Affiliated with THE CHASE NATIONAL BANK Resources Over G32,500,000,000

London, New York, Daken,

LONDON BANKERS

Bosrabaya,

The London County Westminster and Parr's Bant. The Bank has Gorrependects in all the principal

Commercial Gest throughout the world.

་

́E; 'NAGURA.

Малодог.

C. H. BENSON,

General Manager.

ORO KONG BRANOR

De Vaux Bood Centri. Bong Kong, 19th January, 1929

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:

10, Des Voeur Road, Central. HONG KONG

Capital and Surplus

Total Resources

over H$ 8,000,000,00

over H.$30,000,000.00 - Every description of Banking and Exchange business transacted.

Current and Fixed Deposit Accounts In local and for-: eign currencies opened for clients.

Savings Account and Safe Deposit Boxes. Branches and Agencies all over the world.

KAN TONG PO,

Chief Manager.

Phone 25169.

Taxes on Cigarettes:

The cigarette business which made by British labour. already yields the, United States therefore, only fair, that the home true explanation is that we trade should be given the benefit working in a viefous circle, Government about four times as of this support. Collectively it men of first-rate ability will much income as the manufacturers

Pedder Building

(1st Floor)

Opposite Entrance to,

Bre

Hong Kong Hotel.

and

not

of cigarettes make out of it, has may make the difference between remain on the technical side."

a trading loss and a profit. Hence been looked upon in recent years

by various States as a fair held the case for including rubber foot-

for taxation for additional revenues wear in the list of commodities ROOT OF TROUBLE.

In

which must carry an indication of

Marks Act, 1926, should be press- ed with all the force that the cir cumstances warrant. The Com- mittee of Inquiry appointed by the Board of Trade. to consider these claims should be provided with the

Bourge

Gold, Reparations and War Debts.

· "The

Macmillan Committes,'

AC-

Lustrous Oll Permanent Hair Waven which are Large, Soft, and Natural, Artistic Finger and Marcel Waves, Oli Treatment, Shampooing. Henna Pack (any colour); Hair Cutting and Monl eure for Ladles and Gentlemen, Con- scientious, Artistic Work by European Expert, Bir. Alexander.

CHARGES MODERATE.

A VISIT WILL CONVINCE YOU.

PHOTO - SUPPLIES.

Kodaks and Cameras.

Filme, Plates and Papers, etc. Developing, Printing and Enlarging.

ZIESS and BUSCH FIELD GLASSES Price Moderate.

because of the large volume of business, and the seeming simpli origin under the Merchandise city of collection of the tax. most instances this is accomplish ed through affixing tax stamps.

Twelve States now impose a tax on the sale of cigarettes. Two States' Legislatures voted such fullest information on every aspect says a Home paper, "emphasises tax in 1929, but it was subsequent of the threatened extinction of an that avoidance of fluctuations in ly defeated by a referendum. In 24 other States Bills have been in- important home industry, and one prices should be the most important troduced but were not enacted. In morcover which ranks second as a duty of central banks.

of rubber consumption. "This is no doubt a new doctrine, some cases the Bills have died in The Committee which sits this which could never have been committee; in some the legislatures month will have under considera- cepted before the War; yet in view rejected them, and in others the tion the following classes of foot of the disastrous collapse just wit- veto of the Governor prevented wear:-(1) Boots, shoes and slip-nessed and which is certainly con- their becoming law Ten States have not considered the idea pers made wholly or mainly of rub nected very largely with monetary ber. (2) Overshoes, (including phenomena which are bringing the seriously enough to propose Buch goloshes and snowboots) with or world to the brink of financial and legislation.-Wall Street Journal."

without heels, made of rubber ar economile "chaos; there is much to rubber in cmbination with textile be said in favour of a concerted Woollen Goods. While somewhat under the level materials. (3) Rubber soled foot- international effort to bring about, of 1929 activity, both United States wear with uppers made wholly or first, a general rise in prices and consumption and production of mainly of textile materials (includ- then stability.

aing paper) where the soles are not "Surveying the working of the woollens and worstede makes fairly good comparison with that stitched to the uppers. (4) Foot- international gold standard during** year, and the industry is in a much holds made wholly or mainly of the past decade, the committee' con- Improved situation in relation to rubber. The list is fairly compre- demns the excessive rigidity of the conditions existing at this time Inst hensive and déserves the strongest reserve requirements of central year. A number of New England support that the industry can put banks and the sterilisation of the gram is lying at the E.E. Tele- plants are said to be operating day forward in the way of pressure world gold supply by the progressraph Co. Office, Hong log-

Major Haldon, University, from sivo maldistribution of the matal and night on autumn business, and expert representation."

in favour of creditor countries Macao. Wool combing and spinning|

which has been taking place on a establishments are reported 10 be

very busy. The outlook for main- ber of manufacturers of men's large scale in France and America. tonance of current relatively good wear overcoatings are reported to The underlying causes of this operating schedules in mills is re-be intensively oscupied, with sales dangerous phenomenon, Repara garded as favourable.z Buying of running greatly in excess of those tions and War Debts, proved the Autumn womens was goods le be of last year, and in one instance most powerful factors in creating ginning to expand.EL at an increase of as much as 200 the present depression," the paper Production of men overcoats per cant. for the year to date. adds:The committee, in recom and suitings is well- intained, Knitted fleeces and napped mending concerted action to coun- and It Is expected that machinery materials are cited as outstanding Tera these forces,, has laid its real root of the used in weaving

cies, features of popularity at prosent hand -will soon be set in motion. A nun "Financial Chronicle.",

troub

79

"A Trial Order is Solicited,

SEK & CO.

Tel. No. 23459. 26.4. Des Voeux Road, C. Hong Kong..

UNCLAIMED TELEGRAMS."

The following unclaimed tele

S. LACK,

Manager. Hong Kong, August 20, 1981.

Bring Your PRINTING Problems to Us

THE "REWSPAPER:(THIRRPRISE CTD.