1931-10-12 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

kelhocleod Caplin 800,000,000 (weać and Polly Pallap women. $3,000,000

Berling ₫ 5,300,000

D BM0,000

Sartre. ĽAN Kay al Trepcletten van $21,000,000 HRAD WYPION: HONG KONG.

Bon. Mr.

www

BOARD OF VINKUTORS —

Glam, M., 17. S. Mosida.

·Hon. Mr. 1, J. Paterson, Deputy Chairman.

2. Roth, T. Pure

Xon

1. M.-Chempion. Bag, 3. A. Plammer, Bus.

Janda Lewit, Ess. T. 1. 1. Bay, Bog.

3. Vishtu. Kay.

MAKOKO

►

BATAVIA

BOMBAY

CALOUTTA

BANTON

(18700 COLOMBO

DATUEN

FOOD HOW

RAPROX

LAMBORG SILNEOW KARRIN

HONGXEM ILOILO

КОЛЕ

KORLOON

3. 7. Warren. Kog.

Obdel Manage

*. Omyburn. Bot.

ANCHED:

ZULLA LUMPUR

LONDON

MALAOCE

MANIZA

"

MOAB (Jak wy?

MUIDEN

NEW YORK

PALFING

FAKANG

MANADON BANGOON

SAIGON

BAN YRANCIEN БПАКОЛА

BOURABAYS

MOMOKI PATANI *TIENTUIN TOKYO

TSINGTAO

ТОКОПАМА

Detroia spined in Leons Darrenny sad Fizsi Degodia zecalvad der me your at sharter periode is Local Currency and BeurlŪNA za jerma which will be quować na spplination.

Jing Kong, tih Pobruary, '1901.

HONG KONG SAVINGS BANK,

The Burda of the abort Bank li vendasi-

w by the TRONG KONG AND HANGGAI BANKING DORPORATION.

based on pileon.

FOR THE Lowrong and CHANGHAI

BANKING CORPORATION

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858,

HEAD OFFICE: LONDON,

Paid-up Capital Reserva Fund ...

Reserva Liability of Pro-

prietors

THE CHINA

MAIL.

THE HO HONG BANK, LTD.

(Eatablished 1017.)

HEAD OFFICE; SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C.

Authorized Capital Straits $20,000,000 8,000,000 Earned Capital

a 4,000,000 Paid-up Capital ... Reservo Liabilities

of Shareholders, Burplus

#

2,000,000 2,687,000

Branches, Agencies and Correspon- £3,000,000 donte in the principal cities of" the £4,000,000 world.

Every description of Banking and $8,000,000 * Exchange business transacted.

TAN ENG HOOL

Agencies and Branchen:

1104 UTAR

AMHITOAR

BANGKOK MATAVIA

DOMBAT CALCUTTA DANTON DAWNFORK VEDU

CULEMBO DAIBEN

EXAMIN

HONG KONG

KUCHINO

MADRAS

MANILA

MEDAN

NEW YORK

Manager

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

YI¢PANG (Faking) PENANU BANGOON

BLIGOR

DELIE

SEMARANG

HAIPHONG

KRBBWEAK

HAMBURG

SHANGHAI

HAKKOW

BINGAPORE

HLTIAWAN

BOUESDAYA

[2010

ТАГРІХО

TLENISIN

KABAURI

TOKYO

KLANG

TONGKAH (Bhukor).

TEINOT AD

KUALA KANGSAR

Mengtzo

KCALA LUMPTIN

YOKOHAMA, ZAMBOANGA

anton

Foreign Exchange

and

General

Djibouti

Nam Dinh Numes

fort-Bayard Papeete.

Saigon Shanghai Singapore Thành

Treatsin

Haiphong Haukow Hanoi

ТРОП

KOBE

Banking business transacted.

Current Ascounts opened and Fix- ed Depoalts received for one year or which will shorter periods at rates be quoted as application.

J. STUART,

Manager. Hong Kong, 17th August, 1981.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETS,

ВАНКАВЯ

Batablished $89.

:

Kang Song Offer:--11, Ljuser's Road Desiral

Z may be

Authoribed sptial

Paid Up Capital

Lowers' Fund

VM. GRATBURN.

Chief Mays.

Hong Kong, Leśā July, 1900.

THE BANK OF CANTON, LTD. Established 1912.

Head Once-Hong Kong.

Avtorica - Onpila) (II.K. Ouroonay) $11,900A/0 P-Up Capital

·Bonsera Papá 1.100,000

BRANCHES (

Garies, Shanghai,

Kankow,

Emslow, Bongkok, New York and fix Fragaszk

CORRESPONDENTI

LONDON BANKERS 1~~

The Lloyd's Back, Lámited

In all principal cities of the World.

oral exchange and beaking besinos

Safe Deposit Boxes (vasions siasa) në u posky

wrary description irsanacial.

reaked of from 18 to $10.

LOOK POONG SEAN,

Cullidare 584,000,000 (813,620,009.1

in Gulders 80,030,306 (25,009,(TI) Gulders 10,215,00

Hned Off:-AMSTERDAM" Roberts Hood Umos 1—BATAVIA. GRANULIS Bandjarmasin, Brodoang". Bombay,

BRANCHES: Sangkok Hong Kong Quinhon Battambang Hor

antho

Touraze Poking Prom-Penh Vlah Pondichory Yungenfa BANKERS:

IN FRANCE: Comptoir National 'Escompte de Paris; Credit Lyonnait Banque de Paris et do Pays-Bas Credit Industriel et Commercial; So-

ve Generale.

IN LONDON: The Nations! Provin

IN NEW YORK: J. P. Morgan & a., Franch American Banking Cor. Joration; Guaranty Trust Co. of Now Turk.

interest allowed on Current At ounts and Fixed Deposits according

o arrangements.

Every description of Banking and

MONDAY, OCTOBER 12, 1931.

coats, brushes, fruit, glass and & Wobb,

and tickets.

Commerce

Finance

CHAIN STORES SPREAD

THE WORLD OVER

In:

.

Ltd., and

CARY

dopart.

china, clothes repairing and thontra other world-famous houses. Both Germany has several English and French chains of corset shopa, one totalling mental 130 stores...

Grocery Stores Differ.

stores operate branch stores in South American eltios. German chains have spread into

The American concaption of what' Holland, Sweden, Norway and go

a

"

woman

·ro-

constitutes a chain grocery store zorland. It is possible for the diffors widely from that hold in patrons of two British and, two In American shoe chains to step in a different European countries. both France and Germany, some of branch store in Paris, Nice and the largest grocery chains have other continental cities, and buy dairy products. as their chief item. their favourite malto of shoes.A. The largest grocery chain in famous British chain of men's put The chain store le popularly chain has grown into hundreds, be-Switzerland would almost be class- fitting shops has a truly Inter- supposed to be a comparatively hind which is a chain of large ed as a candy chain in the United national shop on board trans- modern innovation, but we know hotels and a world-wide business in States. Another large Swiss gro- Atlantic liner.

Chains Operated by Women. Many successes have been scored that chains of stores exlated in the many other products. Lyons even cery chain sells also dry goods,i

a large tract of land in shoes and housewares. Chains of days of the Roman Empire and owns possibly much earlier. In the ex- Africa, from which is imported electrical supply stores and of bar-'in different countries by women- cavations at Pompeii, ovidence was tropical fruits, cocoa beans and gage shops are common in several operating under the chain-store

are also system. European countries, as

Both in America and Europe, found that at least one trader had other commodities. 16, Boulevard Haussmann, Paris.

branch stores in several parts of Mr. Jesse Boot of Nottingham, chains selling chiefly parfumery

woman hava successfully organized Subscribed Capital Fr. 12,000,000.00 the city, writes Mr. Val Fisher, Eng. (now Lord Trent) from small and toilet Hoap. Paid-up Capital ...Fra. 68,400,000.00 Principal of the Canadian Research beginnings, built up a chain of Italy has several chains of im- and operated chains of hotels add 911 Boots Cash Chemists Shops.'portance selling only silks and vel- restaurants; they have not hesitat- Xoserve Funds ...........Fr■.162,000,000,BV | Burcati.

Like every other innovation, the Several years ago Mr. Boot sold out veta. Italian manufacturers have cd to enter other folds in competi- chain or branch store iden arose to his business and devoted himself to gone into the retail chain store tion with men, and they even Baggage, branched out into unusual channels. moet the needs of the hour. There the building up of the University business extensively.

ishoes, cotton, candy, furniture, per- In Loudon. Eng., one

chain of shoo is no more harm in one man or frm of Nottingham.

In Japan, one man built a chain fumery, china, aluminium makers heads

Yorkshire In having a number of stores than in

shot large chain of 76 having a fleet of ships, a number of 2,000 stores, plus soveral other are all represented by chains in pairing shops. of houses, farms, offices, or any-businesses, in the face of great Italian cities.

the Whereas

American chain storos bears the name of the woman In Paris, a man who thing else. It is not more difficult difficulties.

Voluntary chains, which are to operate a group of 1,000 shops commenced selling coffee from door, drug store has added soda foun- who still directs it.

than alto door, now operates 950 stores tains, luach counters and a varied

of other products, roally groups of independently. under the Golden Rule

soon as the and employs an army of door-to- assortment single store, but as Golden Rule is violated, whether by door salesmen, which covers the en- English drug chains have added owned stores combined for the pur--

In Berlin, gifts, silverware, fancy leather pose of combating the chain stores and proper, are something different the single store owner, or a chain tire city each week. store operator, then the effects of from humble beginnings, there has goods, books, picture frames

į been built up a chain of 1,200 shops, tea rooms. One large British drug from the systems considered above, 14 & Union Bank of England, Ltd, auch violation begin to appear.

now celling only tea, coffee and candy, chain sells also light hardware or as also are the chains of consumer- Probably the oldest chain

owned stores, managed by the co- mptoir Nationa. d'Escompte de ara; Credit Lyonnais.

operating is that of the Hudson's Both in Europe and America are kitchenware.

The criticism now levelled at the operative societies in Europe.

In the ordinary retail trades, ox- Bay Company, which was founded numerous chains of restaurants and

chaina of gasoline in 2070, and which still operates a hotels which have been built up by grocery chains in the United States chain of 250 trading posts or women forced into the business had its counterpart in Great Britain clusive of

30 years, ago, but in different stations, banks, coal depots, farma

estimated that- stores, where trappers, Indians and world by necessity.

Chains Are World Wide. forms. The chief complaint was and hotela, it is Eskimos fill their daily needs in sub-arctic America. Together with Denmark, a manufacturer of that the chains did not confine there are between 270,000 and these establishments the company Hoap and perfumery opened retail themselves to what the critics 300.000 chain stores throughout the owns a chain of 10 large modern stores to overcome difficulties of thought was their legitimate trade, world, of this total, approximate- stores in western distribution and then added gro- From time immemorial, this has ly 100,000 are chain grocery stores. Since the chain-store system department Canadian cities. There are chains ceries and built up a cbain running been a complaint.

tends to revolutionize business 'in From a small

International Chains. still operating in England which into four figures.

Imany ways, it is not surprising a' are said to date back well over a Scottish city, a man built up

Many chains have become inter- that it has come under a good deal century. Probably the second chain of 350 hosiery stores through-

In South national. Several United States of criticism, particularly in the oldest chain on the American con- out Great Britain.

and soveral tinent is in Brazil, where mere America and in eastern Canada are alzations have crossed into United States. It is not a question Canadian of the chain stores versus the in- a Scotsman chains of furniture stores, each Canada named Clarke started a shoe busi- totalling 65, from which armies of hains now operate in the United dependents, so much es a question

States.

of change in the methods of dia- ness and opened store after store, aulesmen cover large areas. To-day, the Companhia Calcado traveller in southern India would A French firm operating a chain tribution of commodities, as be

oporates more fare badly but for the chains of of automobile accessory shops have tween producer and consumer, Clarke Company than 30 stores in Brazil.

railway buffets, bookstalls, hotels, stores in France, Algeria, Spain, For generations it has been ap parent that the old methods would, general stores and department Belgium, Argentina and Brazil. Pioneer in The United States.

Perhaps the most widely distri- sooner or lator, have to giva way: some more officient system. In the United States, the chain-stores, operated by an English firm

buted chain in the world is that of to stero ploncer was Mr. George Hart with headquarters in Madras. ford, who i 1869, founded the The chains most commonly met the Singer Sewing Machine Com Throughout Europe, consumers are Great Atlantle & Pacific Tea Com with in all countries are naturally pany. The parent organization in endeavouring to solve the situation From Mr. Hartford's early thoso concerned with the distribu- the United States and its associate through co-operative societies,.own- plans, and due largely to his ideals tion of the commonest necessities companies in Great Britain, France ed by the consumers, and which of rendering service to the com- of life, but all the larger countries and Germany operate many thou plan to produce or manufacture all munity, has grown up the largest have chains peculiar to themselves, sands of branches and do business commodities and distribute to con- chain of retail stores in any coun- In England, for example, there are in more countries, it is thought, sumers, disbursing all profits to consumer members in the shape of five chaina-one totalling 85 shops than any other retail sales firm..

Thomas Cook & Sons, Ltd., tour- dividends upon purchases, Work- Commercial and Travellers' Letters of Credit, Travellers Cheques, But Mr. Frank W. Woolworth said selling nothing but umbrellas.

two or three ist agents, operate 460 branch offices ing under this plan,, the British co- of Exchange and Cable Transfers the foundation of a business that Germany also has

Carrent accounts runs 2,500 stores in 1,550 cities in chains of umbrella stores. Britain covering practically the entire operative body has become the bought and mold.

a small store has seven chain stores-one total world. In the early Victorian days, largest retailing organization in the a world. This system should not be and Savings Bank accounts opened five countries at and Fixed Deposits in local and for- during the country fair in Water-ling 42 units-selling only baby Thomas Cook wisked to take eign currencies taken may be ascertained on application to town, N.Y., in 1878. His first store carriages. That country has also group of workers and their chil- confused with the co-operative mar- consisted of a calico-wrapped table 28 chains of ten-shops, 45 chains of dren to the seashore, but the cost keting system, common in the I the Bank

of which seemed prohibitive, so he persuaded United States, We are also able to offer our Caladen with odds and ends and sur-jewellery stores one.

North America has not yot takon tomers the services of the Branches mounted by a crude sign, "Any totals 99-and many chaine of fish, the rallway company to quote him a

low rate for a group of 100 passen- to this plan, and it may be that out shops, one totalling 400 units... of the International Banking Corpora Article 5c."

de-gers. He then advertised a cheap of the present situation the United Twelva English chains are tion in San Francisco and Spain and

In England, where chain stores, also of The National City Bank of Now York (France), 8. in Parle or multiple shops, as they are there voted solely to the sale of wall-excursion at special fares. From States wili ovolve a new solution to and Nico.

known, are even more numerous, in paper. Two of the many chains of this beginning, he bullt up the the ever-present problem of distri- proportion to population-though bicycle and radio stores in Britain great business of the present day. bution. It is certain that private- more retiring in appearance than control between them 870 shops. International chains, small in ly-owned chain store organizations in the United States, the chain- Other trades, each represented by size, but covering many countries, and so-called voluntary chains or by the East-consumer-owned co-operative socie store business has been built up chains in Britain, include dairyara operated largely by men and women whose stores, ment shops, shoe repairing, man Kodak Company, the Jaeger tea will only succeed to the extent business histories were as romantic causages, oila and colours, rain-Woollen Company, Ltd., Mappin that they fill the needs of the hour. as Action,

Calecitin, Cheriton, Dhamber. Dak Jakarta', The Hage", Jaidah, Kobe. Lots-Badis, Makamır, Medan, Pidang Talambos. Pakalpagsa, Powass Porzana, Rao Besserdams Barwaring*. Bhanghai, Bibelgs (Bara), Eligere, Board Boerakarta (Bola), Tegal, rjünjas sol!

Walarvraćan®..

* There didame have axla deposit buzen isʻlar.. Lenton Bankww;-Kntiouni Provincial Bent ad Dorrapondable all over the world

Deshing busloma of avacy dipilon sassoted.

Ka

Dog Loop 14th Aagues, Lam.

THE

A. STOKKINK."""!

Chief Manager. AMERICAN EXPRESS COMPANY,

THE BANK OF CHINA. 行銀國中

INC.

Head Offer: 65, Broadwa7, New York.

Capital

special charter of The National Gov.

Reorganised October 23, 1923, under

Burplus

Reserves

.U.S.80,000,000 ‚V,8.$1,572,454 .U.8.$1,908.209

ernment as an

INTERNATIONAL EXCHANGE

BRANCHES

BANK.

ATHAM

Cano Glasgow Darica Hamburg

interna Farcasluck Like

Hien tingles Zirana Paria Extang faling Parmis Bolgarden Boe

Lulearpool

Barbou

Locria Lagana

Macmillan

Subscribed Capita! ....$28,000,000.00

Paid-up Capital ...

HEAD OFFICE: SHANGHAL

Reserve Pande

مادة

-$21,710,200.00

Facti

$ 2,820,508.92

Biebe Bombay

F

Пешвои

HONG KONG BRANCH;

4. Queen's Road Central,

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

We also handle the issus of Bands and other Pobile Funds of the Chin- ess Government both at home and abroad..

SHOU J. CHEN,

Maasger, Hong Kong, 6th March, 1081.

Bons Aire

Baro

Cutouthe

Саломе Colombe Casson Hagla Copenhagen Edaburgh

Landos

Monte Claris

MARĒJA

Munich

Mosleys MUA

Shanghai dcuthampto Singapore St. Mori

Viacon

Tokolenia Larich

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

All classes of Commercial Banking Transactions undertaken.

Personel Investment mocounts handled.

The Company offers to intending Travellers the can of its "TrseELETS THE YOKOHAMA SPECIE BANK, Cheques" and Letters of Credit and,

LIMITED.

Eslabilubed 1880. Capital (fully paid-up) Yen 100,000,000 Reserve Fund

-Yen 110,200,000

Head Office:-YOKOHAMA. Benches and Agoncion att

Alexandria

Datavia

Berlin Mombay Scatte

Canton Changchun

(Dalny)

Nagauki Naroys Newchwang

New York

Osaka

Paris'

Peiplug

Rangoon

Dalian (Mukden) `Rio de Janeiro

Hamburg Hankow Elarhist

Ban Francisco

Beattla

Kong Shimonoweld

KAI Ison

Karach!

Robe

London Los Angeles

Manila

Singapore Востанут Bydney Tientsia

TOMED

Tsingtati

Interest allowed on Chrzest Ac- COUNTE

Deposite received for fixed periods. at rates to be abtained on application.

HMORL

Manager.

Hong Kong, lik September, 1921.

In addition, the world-wide services of its thoroughly equipped, Travel De-

partment.

Afiliated with

THE CHASE NATIONAL BANK Resources Over '£$2,500,000,000

E. W. DUGGAN,

Manager.

Exchange Baninois tradikcted.

Safe Deposit Boxes to le

A. BONNAUD,

Hong Kong, 1st May, 1981.

Manager

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55, Wall Street, New York.

Capital, Surplus and

Undivided Profits ..U.8.$226,087,892

Branches In ARGENTINE LONDON

BELGIUM

BRAZIL

CHILE

CHINA

COLOMBIA CUBA

MEXICO

PANAMA

PERU

PHILIPPINE

ISLANDS

PORTO RICO

DOMINICAN

STRAITS

REPUBLIC

SETTLEMENTS

URUGUAY

VENEZUELA

INDIA

ITALY

JAPAN

at rates that

F. MED. COUBTNET,

Hong Kong, June 16, 1981.

Manager.

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

HEAD OFFICE:-Taipoh, Formosa.

Incorporated by Special imperial Charter, 1899.

than 100 years ago,

pany.

try.

·

The W. H. Smith & Son chain of 1,500 bookshops and railway station bookstalle was founded by young, W. H. Smith and his brother, who, when they opened their first nowa. paper and bookshop, used to rise at 2 a.m. to deliver newspapers. Mr. W. H. Smith, in later years, enter- Zalased the British Parliament and be- CHINA Ehsaghal, Hankow, Amay, Foockow, came a Cabinet Minister and sacre- OTHERS Log Kong. Engapore, Bosbaya,tary for Ireland.

Central Bank in Formsen. Back-Holes sed &runge amosas unŸou. 44,00.00% BRANCHES AND AGENCIES; JAPAN -yo Yokohama, Ecos, Desk, FORMOSA 1-Gizan, Kagh Karenks, Kasiana.

Wing, Nanko, Khachiko Taloka, Takko, Tammi, Zone, Hello, Taita.

Benson, Carios.

Bemarang BSTA

Bombay. Land Law-York Dalma

LONDON BANERESJ

Balonik

The London Gementy Wasarosse und Fart's' Batık.' The Back has Carrapondante in all the principa Dunmorala Conless throughogh the world.

YADURA.

Masnew

HONG KONG BRAMONA

“& Der Tees Boad Ouest. Hong Kong, 10th January, 1918

Lord, Davenport's Rise Hudson Kearley, a tountry boy who walked into London to seek fame and fortune in the traditional; manner of Dick Whittington, estab lished a chain of grocery stores and met with wonderful success. He became Lord Davenport, famous as the virtual originator of the Port of London's system of docks.

From a small grocery store in

THE BANK OF EAST ASIA, LTD. Glasgow, Sir Thomas Lipton built

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Central. HONGKONG.

Capital and Surplus

Total Resources

over HL$ 8,000,000.00 over 1.$50,000,000.00

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 Bafe Deposit Boxes. Branches and Agencies all over the world.

KAN TONG PO,

Chiet Manager.

up a large chain of Lipton's stores and founded a world-wide ten busi- ness.

Something less than 50 years ago,

The

A.0. F. C. Average of Shanghai Stocks

TWENTY REPRESENTATIVE STOCKS

Downward movements. of Stock their position. The threatened, selling out marginat holdings seems

a young art student in London noticed the manner in which city workers had to take their midday meals: small, dingy, restaurants, prices in Shanghal have in the last boycott will have the effect of put-to have progressed fairly well and public house bars and coffee shops everal days erased a large part ting a strain on the money situa- offeringa may lighten for a while. were practically the only places of the gains made in August and tion for contracte will have to be Some apprehension concerning the

still to be detected. - possible to the worker. The student, early September. The A.0.F.C. met on imported goods whether next settlement day, however, in Joseph Lyons by name, opened the Average bas dropped by rather there is a boycott or not,

Some stocks have been supported The statistical record of the first Lyons, restaurant, where good substantial amounts to 26.70 when food was served in bright surround only two weeks ago it was around well in the market, and such A.O.F.C. Average is as follows:

January 6 24.10 standard" issues' Trams and Ewos) lage at low prices with "Positively the 28.66 peak. No Tips To-day this firm serves Market followers currently are have stood up well under the prea-High for year: September 19 28.68

October €20.70% more meals per day, it is reported, nervous on their marginal commit sure of liquidation. The adjust-Recent low point: August 6 25.54 than any other organization. The mente, and are seeking to lightenment to strengthen positions