1931-09-02 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Asihorised Captial amin... $50,000,000 Karel and Fally Pull-up (30,300,000. Kurva Yuxde

Sterling mendimonuses £ €,100,000 Bilfer

$10,000,000

Bearys. Llað lide at Propriakes ... $50,100,000

READ WITICE: HONO IC10,

BOARD OF DÍLKOTORSĮ—

Hon. Mr. O, G. 8. okt. Chairmas.

Hon. Mr. J. 3. Pularson, Beputy Dhalınan

HE Mr. #. H. 14, T. Fr. Mog.

3. I. Campion, Eng. J. A. Plummer, Meg.'

M. Lauder Lawin, Esq. T. H. B. thaw, Hog.

M. Miskia, Bos

Akor

BANGIOR

MATAVIA

1. P. Warren. Eng.

Oklal Manage.

Y. M. Omybum, B

BRANCHES:-

LONDON

LIONS

MALACCA

HOMEAT

MANILA

DALOUTTA

MUAB (Jokai

CANTON

MUKDEN

SREFOO

NEW TORÉ

PEIPING

COLOMBO

DAIREN 100000%

HAIPHONG

MAKBURO

HANKOW

GARBIN

HONOKEW

ILOILO

ГРОД

TOHOR

Koma

KOWLOON

KUALA LUMPUR

PENANG

BANGOON

8&100N

SAN FRANCISC

BRAKOH

STHOAPORE

BOUBABATA

BUNGRI PATANI TIENTRIN

TOKYO

THINGTAO YORDHAMA

Carcana Kovamie opened in Loon! Carrean? sad Fixed Depolia reosired for one year or shrine periods in Lool Curmasy and Simring on terma which will be queiad in application.

Bong "Tous, 19th February, 1801.

HONG KONG SAVINGS BANK.

The Bloss of the store Bank le conduct by the 1ONG KONG AND SHANGHAI BANKING CORPORATION, Bulse may h abilond application.

FOR THE HONGKONG AND BHANGHAL BANKING CORPORATION,

7. M. RAYBURN, · ·

Chia! Manager.

Hana Kong, 13th July, 1900.

THE BANK OF CHINA. 「行銀國中

Reorganized October 26, 1928, under special charter of The National Gov-

ernment as 20

INTERNATIONAL EXCHANGE

BANK

Subscribed Capital .....$25,000,000.00 Paid-Up Capital

Reserve Funds

$24,710,200.00

....$ 3,820,508.82

HEAD OFFICE: SHANGHAI

HONG KONG BRANCH:

4, Queen's Road Central.

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

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

SHOU J. CHEN,

Hong Kong, 8th March, 1981.

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

BEAD OFFICE: 'LONDON.

Paid-up Capital

Reserve Liability of

THE HO HONG BANK, LTD.

(Established 1917.)

THE

CHINA MAIL.

HEAD OFFICE:—BINGAPORE. Hong Kong Branch: 13, Queen's Ed. C.

Authorized Capital Straits-$20,000,000 Jashed Capital

Paid-up Capital...

Liabilities

of Bhareholders

8,000,000

4,000,000

4,000,000

2,687,000

Branches, Agencies and Correspon-

Reserve

Surplus

.£3,000,000 £4,000,000

.....£3,000,000

Reserve Fund

prietors

ALOR STAR

• KUCHING

MADBLO

"Agencies and Branches;

AH BITHAR

ВАНОКОК BATAVIA BOMBAY - 1 CALOUITA

CANTON CAWNPOR

OBBU COLOMED

DAIREN DELHI

HAIPHONG

HAMBURG

BANKOW

HARNIN

HỒNG CŨNG

ILOILO

jPUg

KADACHI

KLANG

тоне

KUALA KANGSAR

ECALA LUMPU

MANILA

MEDAN

NEW YORK

PEPING (Foking) PENANG DAKDOON BAIGON

BENARANO

SEDEMELN

BHANGHAI

BINGAPORE

SITIAWAN BOURABAYA

TAIPING TIENISIK

TOKYO

TONOKAH (Bånkai)

denta in the principal cities of the world.

*

Every description of Banking and Exchange business -transseted,

TAN ENG HOOL,

Manager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:- #5, Boulevard Haussmann, Parlo.

Subscribed Capital Fra, 72,000,000.00 Paid-Up Capital... Fr. 68,400,000.00 Reserve Funds Fra.102,000,000.00

BRANCHES:

Bangkok Battambang Hue Cartha

Hong Kong Quinhon

Salgon Shanghai Singapore Thanka

THINGTO

Mengtso

YOKOHAMA

Canton

Nan Dinh

ZAMBOANDA

Djibouti

Namea

and

General

Fort Bayard

Papeete

Tientsis

Pnom Penh Vinh

Peking Tourang

Foreign Exchange Banking business transacted...

Current Accounts opened, and Fix-| ed Deposits received for one year or shorter periods at rates which will be quoted on application.

J. STUART,

Manager. Hong Kong, 17th August, 1931.

NEDERLANDSCHE HANDEL-

MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

BANKRKU.

P

Katabilokað 19M.

Masg Kong Offos1-11, Queen's Bond Central,

Authorland Capital Guilder 150,000,000. (11,850,000.) Exld-Up Ospital en Childars) 10,208,808 (9,6TH) Kasetyo Tünd zu Oulidarn” tájátá,000

Hand Oftor:--AMSTERDAM* 'Eastern Hand OMow:--BATAVIA. BRANCHES – Bandjarmsain, Bandung". Bozzbar,

Callia, Carbon, Djember, Djoki fahnele”, The Harmat Jatikk, TODI, Kota-Badja, Makasar, Madani, Padang Primabang Pekalongan, Penang, Foot Bangon, Bollardan:", Bamerang Tanghal Bibolga (Bumars), Filingspora, Boskaria (Bola)," Tems, Tilalap and Waltarreden,

Boorabala

• This amoen kava zala deposit boɛng to “lak.

· London_Barkery:—Naklonal Provincial Bank Ltd. Currapondasia all over the world

Banking business of ster description tracted.

A. STOXINE,

Hong Kong, tha Argan), 1996.

THE

Manager,

AMERICAN EXPRESS COMPANY,

INC.

Head Office: 65, Broadway, New York.

Capital Surpins Roserver

U.S.$6,000,000 U.9.$1,572,464 U.9.$1,908,209

Manager.

Amsterdam Antwerp Athics

BRANCHES:-

Geno Glasgow

HAYES

Hanta

Bra

Hamburg Havre

Almerika

Bombas

Bion Naples Piraeus Paris

bang Peking lario

Beaman

Brussels

Buenos Aires

Calro

Calzate

Lucerne Itupno

Cannes

Columbu

Leice Manillas

THE BANK OF CANTON, LTD.

Established 1912.

Head Office:-Hong Kong.

Muthorland Capital (ILK, Cursday) (11,000,000

PW4-Up Capital aremansons

Bevere Fund ..................

BRANCHES :-

5,864,000 3,190,000

Canton, Blang, Hackow, Iwakow, Bangkok. New York and dea #tanolios.

CORRESPONDENTS

LONDON BANXESS 1-

The Loyd's Desk, Limited.

In all principal cition of the Waff

Yoriga zohange and benklag besinme of Tryption transacted,

Rals Deposit Boxen (variona zizen) sin_pony

estful of from 45 to $40.

-.

LOOK POONG SHAN,

Chief Manager,

Interlaken Jarusalem Lida London. Liverpool

Contaople Monte Carlo

Copenhagen

Edinborgs

Florasca -Genera

Kaulie

Kasich

Botterdam". Forne Simbol Bhanghal Belkampio Hitspore 61. Morit Trenkain

Vinns

Yokohama Surfch

Montrans Milan Branches of American Express Company in Principal cition of Unit- ed States of America and Canada.

All classes of Commercial Banking Transactions, undertaken.

Personal handled.

investment

accounts

The Company offers to intending Travellers the use of its "Tyuvalara Cheques", and Letters of Credit and, in addition, the world-wide services

partment.

THE YOKOHAMA SPECIE BANK, of its thoroughly equipped, Travel De

LIMITED.

Established 1880.

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

L

Head Once-YOKOHAMA.

Branches and Agencies att

Alexandria

Batavia

Berlin

Bombay

Calcutta

Centon

Changchun"

Nagasaki, Nagoya Newchwang

New York

Osaka:

Paris

Pelping Dairen (Dalny) Rangoon Fengtien (Mukden) Rio de Janeiro

San Francisco Seattle

Hamburg Hankow

Hong Kong

Ka! Yuen

Karachi

Kebe

London

"Los Angeles

Singapore Scerabays Sydney Tientaln Tokyo

Telogtau

interest allowed on Current As

Deposits received for fixed, parloda

at rates to be obtained on application

II. MORIT MARKGOT.

Hong Kong, 16th July, 1981; YOU

Affiliated with

THE CHASE NATIONAL BANK Resources ..Over $2,500,000,000

Haiphong Hankow Hanoi

Pondichery Yunnanfu BANKERS:

IN FRANCE: Comptoir Natioma) d'Escompte de Paris; Credit Lyan; Banque de Paris et des Pays-Bas; Credit Industrial et Commercial; class Generale.

IN LONDON: The National Provin. cia & Union Bank of England, Lidi Comptoir National d'Escompte de Paris; Credit Lyonnais,

|

and

Commerce

Finance

BRITAIN'S COAL INDUSTRY

AMALGAMATION OF MINES.

Most Sweeping Reorganisation.

Somerset, Kent,, Cumberland, and North Wales which do not fall naturally into any groups. the Daily Each group would be controlled by a central directorate, whose task

The Coal Mines Re-organisation Commission, appointed under Part II of the Coal Mines Act, has sub mitted, according to Telegraph, a vast scheme for the amalgamation of mines. The Com- would be: mission was appointed last year, and its personnel Is

To determine where the coal for

Te-

WEDNESDAY, SEPTEMBER 2, 1931.

about the safety of mines

lying! Idle, and requiring constant pump-i

ing and ventilating in the interests: of the safety of adjoining and ac- tive, mines,

4D CHEAPER THAN ENGLISH.

Soviet Biscuits In Manchester.

Soviet-made biscuits, offered in

Of the quota system they say that "in so far as it gives an artificial Manchester at prices with which

value to the intrinsically valueless and perpetuates part-time working,

British manufacturers could not

it is the very antithesis of ration- hope to compete, are said to be part of a big consignment of the blacuita

nlisation."

the country.

Of central sales organisations ready for distribution throughout they say: "No doubt they would be

Already selected persons in Man useful....but they cannot do all that is needed, for they do nothing and one of these said that his offer, chester have been offered agencies, ta concentrate productive effort. which was couched in An attempt to maintain prices 18 terms, revealed that there are unt not an adequate substitute for limited supplies of biscuits. tackling the problem of lowrig costs by reorganisation."

WEIGHING MACHINE PROFITS

Reports of industrial companies which there is a demand can best disclosing only a moderate falling rare in these off in profits are ve produced;

days, the great majority of such To control sales, waggons for

enterprises having to announce a chairman, search, and treatment of coal; and rather serious shrinkage in earn-

To regulate finance and policy,

ings. The results of the operations The marketing achemes launched of W. and T. Avery, the weighing. under Part I., of the Act-which

testing.

Sir Ernest Gowers (chairman)— Permanent Under-Secretary Mines, 1920-27; now Board of Inland Revenue.

Sir Felix Pole-Chairman, Asso- ciated Electrical Industries Ltd.

Sir William E. Whyte-Solicitor, member of the Royal Commission on Licensing (Scotland).

viston

and counting. machine

Ordinary

generous

"They are to be delivered in Manchester at 5d a pound," he said, "which is between 3d and 4d

less than similar biscuits made by British Arms. Even cream biscuits are included. Cream biscuits here cannot be sold at less than 1s. a pound if you want to allow a reason. uble margin of profit."

THE UNION BANK OF AUSTRALIA ·

The profit for last year amounted

U.K. income-tax was declared, and 7 per cent. for the year, free of

tribution is equivalent to 9.04 per £90,010 carried forward. The dis-

sent less tax.

Mr. Lawrence Holt-Partner in have only just come into effective manufacturers, of Birmingham, in to £283,018 and adding £86,991 Alfred Holt and Co., shipowners. operation-are referred

to as the financial year to March 31 last, brought forward there was a total Mr. Joseph Jones-Miners' Fed-doubtless useful enough as a step- will therefore be regarded as highly of 370,010, or £241,981 less than eration Executive.

ping-stone on the way to scientific satisfactory. Net profits, after pro- dividend for the half-year, making the previous year. A 2. per cont. reorganisation of the industry."

The Commission do not suppose charges, and directors' fees, are for depreciation, interest that such a gigantic scheme of £104,270, as compared with £119,481 The scheme is to divide Britain amalgamation could everywhere be for the previous twelve months into six units, in each of which achieved at one stride, and it may The dividend the

*0 there shall be only one colllery well be, they add, that certain un capital, as already announced, is undertaking. It has already been dertakings now in existence are not maintained at 15 pc., while £13,450, described as "the most sweeping worth bringing into any amalgam-ns against and comprehensive re-organisation ated concern. scheme for the' national production Intarast allowed on Current Ac-of coal ever devised." It is, of counts and Fixed Deposits according course, submitted "not dogmatical- Every description of Banking and but tentatively....as a basis of Exchange Business transacted. discussion," to owners of all big

Safe Deposit Boxes to let.

A. BONNAUD,

Hong Kong, 1st May, 1931

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

to arrangements.

Manager.

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 in ARGENTINE LONDON BELGIUM. MEXICO BRAZIL

CHILE CHINA COLOMBIA GUBA DOMINICAN

REPUBLIC INDIA ITALY JAPAN

PANAMA PERU PHILIPPINE ISLANDS PORTO RICO STRAITS

SETTLEMENTS URUGUAY VANEZUELA

Commercial and Travollars' Lettára of Credit, Travellers' Cheques, Bills of Exchange and Cable Transfers bought and cold. Current accounta and Savings Bank accounts opened and Fixed Deposits in local and for- eign currencies taken at rates that

mines in the country.

If the scheme is adopted it will involve; (1) The reduction of a thousand individual colliery organ- isations to six great amalgamations: (2) The closing of hundreds of un, economic mines, and the conversion of whole districts, now active, into derelict areas; and (3) The dismis- sal of probably 100,000 miners.

Central sales organisations and: the quota system, as alternatives to amalgamation, are rejected, as "nothing can be a satisfactory cure for the ills of the industry" untèss it has economy as its main object.

Self Destructive. Outling the case-for-so-drastic proposal, the memorandum says:

"The days of easy aupremacy are gone; supply exceeds demand; costs are swollen by part-time working: unrestricted competition of many hundreds of independent units, which served well enough when we had things all'our own way, is posi tively self-destructive in the alter- ed conditions of to-day.

"The vital need of the industry

may be ascertained on application to today is that costs should be re- the Dank.

We are also able to offer our Cus-duced by concentration of produc- tomers the services of the Branchas tive effort.

of the International Banking Corpora

of

tlon in San Francisco and Spain and· also of The National City Bank New York (France), B.A., in Paris and Nice.

F. McD. COURTNEY,

Manager. Hong-Kong, June 16, 1981.

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

HEAD OFFICE:-Taipeh, Formons.

Incorporated by Special Itaperial Charter, 1899.

Central Back la Formosa." Bank-Notes tasued Average amount aan. 44,000,000

BRANCHES AND AGENCIES JAPAN-Tokyo, Zokohama, Lobe, Quaka. PORMOSA Glenn, Kagi, Karenko, Kosiuag, Kakang. Nasto, Skhakim, Zadku, Tiinas, Takso, Tamant, Toan, Helio, Telto.

DHINA-Chantel Halow Amey Foockow,

Blow, Danion.

More pits ought to

work to fuller capacity some ought to stop work altogether, at least temporarily, if not permanently."

Limited by Geography, The possibilities of grouping col- llerics, it is pointed out, are limit- ed by geography. The largest pos- sible natural groups are the follow- |ing;

Scotland.-Ayr, Lanark, Fife, Lothians, *

North-East, Northumberland, Durham.

North-West. — Lancashire and Cheshire.

East Midlands.-West Yorkshire, South Yorks; Nottinghamshire, Derbyshire.

Central Midlands. North Staffs, South Staffs and Cannock Chase, Shropshire, Warwickshire, South

OTHERS-Hogg Bingipore, Boersbay. Darbyshire, Leicestershire.

Semarang, Belaria, Bombay. Closi Landon, New York, Durmi

LONDON BANK PEB Į

The London County Watmiazine and Purv'a Bank.

South Wales and Monmouthshire,

In addition there are six small.

The Bank has Corrispondente, is all the principal fields-the Forest of Dean, Bristol, Commercial Centrue. Shroughout the world..

K. WAGUBA.

C. H. BENSON,"

General Manager.

• Managi HONG KONG BRANCH 1

Dee Vaar Road Centroi, Hong Kong, 19th January, 1996,

THE BANK OF EAST ASIA, LTD.

Established 1918,

HEAD OFFICE:

10, Des Voeux Road, Central. TONG KONG

Capital and Surplus

Total Resources

over H$8,000,000.00

oyer, 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;"

KANTONG PO,

THE MERCANTILE BANK OF

INDIA, LTD:

HEAD OFFICE;

15, Ornchurch Street, London, R.C.X

Authorised Capital

2000 £3,000,000 1,800,000

Subscribed Capital Pak-up Capital 1,650,000 Reserve Fund and Rest 1,680,846

BANKERS:

The Bank of England Midland Bank, Ltd.

BRANCHPS:

Kandy

Martins)

Beagbok

Ipak

New York

Balaria

Boisy

Karachi

Port Lou

„Oslamba- 'Dill Gue

Kuala Lipia***

Shanghel

Ra! Kong

Harik

Kuantan (thang). Bingspors Madr

HONG KONG PRANCH, Eryritlow of Banking and "Etohanes' brsel

Travelers Cheques, lassed.'

N

Trustee and Executorships ander- taken..

INTEREST' allowed on Ogmemek Anconade - and Pikel :Deposite "a1" Bates the) may be mortalsed -on applications *

C. L.. BANDES

Manager.

Chief Managar.

1. Queen's' Bond

are

trade and falling exchange

For the year's meagre result bad £20,000, is placed to reserve, and a balance of £56,268, blamed. The decline of £247,000. in Greater Benefits.

or only £2,766 less than the amount 3 profits was attributed entirely "If the advantages of amalgama- brought in, is carried forward. to the latter, which in turn was due tion are what we think them to be," The company, of which Sir to the increase in the volume of they declare, "it fellows that, other Fortescue Flannery, a well-known exports and imports from and to things being equal, the larger the figure in the engineering world, is Australia and New Zealand. size of the unit the greater will be chairman, was established thirty- the benefits that amalgamation can seven years ago, and has an issued bring.

capital of £979,783, which includes

AUSTRALIA'S BALANCE OF TRADE.

Exports and Imports of Australia for the eleven monthr ended June 30, 1931, show a drop in importa→→ réckoned in British currency of 88 much as £66,000,000, while exports

"There is this, too, to be remem- a 50 pc, capital bonus to Ordinary bered, that the fewer the hands shareholders in 1923. Few of the that control the industry the better prosperous enterprises of the Mid- will it be placed for competing innds have a more creditable record. with foreign rivals, or for negotiat- According to the latest balance- ing agreements with them, if that sheet, the assets total £1,945,055, should prove the wiser course." which is some £40,000 higher than reckoned in Australian currency- at the end of March 1930. No very show a fall of £25,000,000. The striking changes are revealed in the excess of exports over imports le individual items. The chief in- estimated at £27,000,000 in Austra- crease is the rise in investments lan currency, or £22,200,000 in from £999,128 to £1,098,513, the British currency. For the latter amount including £142,238 of months ended December 31,, 1929, Government and municipal securi- there was an excess of imports of

£11,000,000.

This Arst report will give rise to much controversy in the mining industry. Experience has not re- vealed the enormous advantages of amalgamation, unless it is guided on certain economic principles.

liners will be anxious about the employment outlook and directors ties.

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