1931-11-02 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

suthorised Cupido

961,264,000

(pread and Pally Pald-67 mm. 191,006,900 Reesero Funds ---

silver pensamen (16,600,000

Honores. Lai tây at Propelavors van 800,000,000

HMAD MEPICHI, HOKO KOXU.

BOARD OF DIRECTORS 2 Hon. Mr. O. 0. S. ManICHE. Chairman.

Hon. Mr. 3. J. Painronn, Deputy Chairmana.

2.1. PL. BAIL T. ■ Pvares, Bos

1. H. Camylo, Tay. Y. A. fiammet, Hog

́a. Landar Kerela, Raq, T. “EL. 3. Show, Bag.

că Makin, Boy.

AMINT

MANGIOM

BATAVIA

HOMWAY

DALOUTTA

J. J. Warren, Bog.

Ullal Maangat.

ANOTES:-

LONDON

LIONI

MALACCA

MANILA

MDAB (Jokers)

VANTUM CHIFOO COLOMBO

MUIDAN

NEW TORE

PRIPIKO

DAMEN

Conasow

ZADIES

SAMMUNO BANKOW WARRIN

"ENGLIO

201

JOHOR

KOR

TOWLOON

KUALA LUMPUR

PENANG

RANGOON BAIGOR

MAN PRAMOTRON

BHANGRA

HENGATOEL

BOIRABAYA JUNGE PATAKI TIENTRIE

-TOXXO

THINGTAO

YOKOHAMA

Eperea exate opened in Inval Ourtney

in Pized Deposita reosivad far sus your

bet parlada in Local Ousranny má Backup vemo watch will be qualed an appleston, Wang Xong. Both Påbruary, 1901

HONG KONG SAVINGS BANK.

The Hobines of the abers Bank la semicon by the HONO ZONO AND SHANGHAI BANKIND CORPORATION. Bulan may b diuimad sa applicamon

FOR THE HONGLONG AND SHANGHAI BANKING CORPURATION,

V. M. DALYBULN,

Chiat Manager,

Kang Kong, Íth July, 1900.

THE BANK OF CANTON, LTD.

Established 1912.

Head Office-Hong Kong.

Authocland. On plină (ILM. Darrenny) U11,900,000 Fall Up Chyliale state of Gasseri Yaud maankan. 1,100,000

BRANCHES.

Benkan, Bhanghal, Hanken, _Kursion, Bangirok, Yaw York and Man Frenažna,

CORRESPONDENTE

LONDON BLN ▼ 201—

The Lloyd's Back, Làmind.

da att principal elties of the Well

· Foreign" oxchange and · banking instumen

very dissipadan transacted.

Bata Dapol Box (variosa alues) at a pomely

rental of Irom $5 to $40.

LOOK POONG SHAN,

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

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve Fund

.£8,000,000 .£4,000,000

Reserve Liability of Pro-

priators

.$3,000,000

ALOR STAR

Agencies and Branches:

AMBITUAR

IU NGOT

BATAVIA BOMBAY CALCUTTA CANTOR CAWNPORN CEBU DOLOMBO DAIERN DELHI

יי

PANANG

ZVONINO

MADRAS

MANILA

MEDAN

XLW TOOK

PKPIN{} {l'oking)

BANGOON

BAIGON

SEMARANG

SEREMBAN

HAMBURG.

SHANGHAI

BANKOW

BINGAPORE

SITIAWAN

BOURABAYA

TAIPING

HAIPHOND

FAXBIN

домо домо

ILOILO

IPON.

KARAOKE

KLANG

ZOBA

TIENTOIN

TOKYO

THE HD HONG BANK, LTD.

-(Extablished 1917.)

HEAD OFFICE: SINGAPORE. Hong Kong Branch: 18, Queen's Rd. C.

Authorised Capital Straits $20,000,000 Issued. Capital .... Paid-up Capital .......

Reservo Liabilities

of Shareholders

Surplus

8,000.000

4,000,000

4,000,000

THE CHINA

MAIL.

Commerce

Finance

and

2,087,000 SILVER AND THE ECONOMIC

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

Every description of Banking and Exchange business transactad.

TAN ENG HOOL

Manager.

BANQUE DE L'INDO-CHINE.

HEAD OFFICE:

CRISIS.

A SUGGESTED PRACTICAL SOLUTION.

By SIR HUGO CUNLIFFE-OWEN, Bt.

(In the Financial Times)..

own country, Not only

MONDAY, NOVEMBER 2, 1931,

BUSINESS DIRECTORY

DRAWNWORK & EMBROIDERIES

SWATOW TRADING CO.

Established 1910. MANUFACTURERS OF Swatow Drawn Work

AND

Art Embroideries

ANNOUNCE

GRAND OPENING SALE NOW ON

AT NEW BRANCH STORE GLOUCESTER BUILDING

ARCADE.

It is an encouraging fact that, particularly of our 16, Boulevard Haussmann, Parks.

the new Government is not only require no elucidation. Subscribed Capital Fra 72,000,000.00 firmly convinced of the urgent has the fall in silver impaired the Paid-up Capital...Fra. 68,400,000.00 nocassity of balancing the Budget. power of the East to buy our goods, SWATOW TRADING CO.

Reserve Funds ....Frs.102,000,000.00

BRANCHES: Bangkok Hong Kong Quinhon

Saigon Battambang Bue

Hengtzo Shangbai Nam-Dini Singapore Numes Thanh

TONGKAN (Bukos)

TOINUJAD

KUALA KANGSAR

YOROBAMA

Banthe

KUALA LUMPUR

ZAMBOANGA

Santon

Foreira Exchange

and

General

Dilboat!

Fort-Bayard Papests

Haiphong

Hanoi

Banking business transacted.

Current Accounts opened and Fix-

ed Deposits received for one year or which will shorter periods at rates be quoted on application.

J. STUART,

Manager. Hong Kong, 17th August, 1981.

NEDERLANDSCHE HANDEL. MAATSCHAPPIJ, N.V.

XXIIIFBLANDO TRADING SOULETT:

DANTERS.

my

KataMichel 1,

Hong Kong (How:-11, Qison's Bond Central.

Authorised Capal Gulldare 188,000,000- (219,120.000.3 Pull-Up Capii

Oudidars 80,000,000 (4.600,70) Gliders 40,016,000

Le Feud

Read Offon-AMSTERDAM* Eastern Head Of:-BATAVIL BRANDNES 10 Baadjarmisia, Bandower', Bombaj,

"

Calcutta, Charbon, Dembar, Diph jakarta", The Bagua", Jeddah, Kabu Kow-Badia, Makasar, Mudza, Poding Palembang Pekalongan, Punang, Pooliast

Borda Ɛemarang,

Schol (Humaira), Blagapore, Boursbalk, Samenkarte (Holo), Tegal, Tillajup and

Weltevreden".

• These oflows bare sale depozis boxes se lai. London Baskere --Halicual Previadal Bank LAL. Correspondente all over the world

Baning balanss of vary

fesorption trazanoted.

A. STOKLINI,

Ha Long 19th Augus, 1806.

THR

Kanager.

Chief Manager. AMERICAN EXPRESS COMPANY,

THE BANK OF CHINA.

行銀 國中

special charter of The National Gov- ernment as AÐ

INC.

Head Office: 65, Broadway, New York.

Capital

Reorganised October 28, 1928, under

Surplus

Reserves

INTERNATIONAL EXCHANGE

BANE.

.U:S.$6,000.000 .U.8.$1,572,464- .U.S.$1,908,209

BRANCHES:-

A

Bucos

Answers

Glasgow

Flavica

Baile

Balla

..$ 0,820,503.89

Barri

Ebay Besman

Klos Naples Fi Twi Jong Peking Parme

Subscribed Capital ....$25,000,000.00 Pald-Up Capitai : ...$24,710,200.00

Reserve Funda

KEAD OFFICE: SHANGHAI.

HONG KONG. BRANCH:

Queen's Road Central.

Owing to our numerous branches in China and large connections in the im portant commercial centres of the

Bound Aires

Cairo Galeria Сковая Colomb

Despantinels Copinh Pindarg's Flore

Bamborg FATH Loserlaken Faraiano

مشافية

London

Liverpool

Latpat

Laze

Marsalilae

Moale Carte

Manila

Munich

Montres Man

Rotterda Some Bambal

لستار محطة

custampto Singapore B. Maria Trenin

Убода Trale Yokohama Zarjah

Branches of American Express

ed States of America and Canada.

world, we are able to extend to our Company in Principal cities of Unit- lients special facilities for domestic and forsign banking and exchanges.

We also handle the issue of Bonda and other Public Fands of the Chine 180 Government both at home and abroad.

SHOU J. CHEN,

All classes of Commercial Banking Transactions undertakan,

Personal investmont accounts

-Manager.handled.

Hong Kong, 5th March, 1031

The Company offers to intending Travellers the use of its "Travelers Chaques" and Letters of Credit and,

THE YOKOHAMA SPECIE BANK, in addition, the world-wide services

of its thoroughly equipped Travel De partment.

LIMITED.

Established 1880.

Capital (folly paid-up) Yen 100,000,000 Reserve Fund ...Yen 118,200,000

Head Office:-YOKOHAMA.

Branches and Agencios at:

Alexandria

Nagasaki

Nagoya

Newchwang

Now York

Osaka

Parla

Fangtten (Makden) Rio de Janeiru

Batavia

Berlin

*Bombay

Calcutta

Dairen (Dalny)

Gamburg Hankow Harbin

Kong

Tren

Kobe London

Lo

Gal

Karachi

Francisco

Semarang Shanghai Salmononald Singapore

Boerabaya

Bydney Tientsin Tokyo Angels Manila

Tsingtan Internet allowed on Current A Depoalta repaired for fixed periods st rates to be obtained on application.

H MORI

Hong Kong, 11th September, 1931.

Manage

Affiliated with

THE CHASE NATIONAL BANK Besources ..Over 0$2,500,000,000

|

Tlentain

Paking Tourane

Bankow Phnom Penh Vịnh

Pondichery Yunnanfu DANKERS:

stern but it has enabled--indeed, forced but is determined to take measures of economy without com--them to sell their manufactured promiso or delay. This is un-products, in competition with our doubtedly a development of great lown, at prices so low as to oust our from important neutral importance,, but it would be falso goods to imagine that these steps will of markets. Self-interest alone, lanv- themselves remove the underlying ing aside altogether any question causes responsible for our most un- jof equity or humanitarianism, de- ocono-mands that the Weat should realise satisfactory monetary and mic position. If the national effort its responsibility, and that the IN FRANCE: Comptoir National stops at this stake we shall only be more powerful gold standard coun 'Excompte de Paris; Credit Lyonnaiss Banque de Paris et des Pays-Bas; alleviating the symptoms, while tries should regard it as their in- minimum Credit Industriel et Commercial; 90-failing to remove the root of the escapable duty to ensure at least

the maintenance of a leto Generala,

disease.

Action along IN LONDON: The National Provin-

of price for allver. What, then, are the causes & Union Bank of England, Ltd.;

economic and financial this line would directly assist in National d'Escompte de jour Comptoir Pare; Credit Lyonnais.

Put very briefly, they silver-using countries like India Mexico, IN NEW YORK: J. P. Morgan are the appreciation of gold in gold and China, but also to silver-pro- Co., French American Banking Cor standard countries

and the deducing countrica like poration; Guaranty Trust Co. of New

preciation of silver in silver stan whose capacity for buying others' York.

dard countries, In our own coun- products has been ruinously de- Interest allowed on Current Ac-try we are to-day suffering severely pleted. The immediate aunts and Fixed Deposits according also from our policy-unique now would bo a marked revival in the Every description of Banking and in the world-of free imports, but trade of the gold standard world. I am concerned rather with general with those world forces than peculiar to Great Britain..

so arrangements,

Exchange Business transacted. Safe Deposit Boxes to let.

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 Profita..U.S.$226,087,898

Branches ins ARGENTINE LONDON

BELGIUM BRAZIL

CHILE CHINA COLOMBIA GUBA DOMINICAN

REPUBLIC

INDIA ITALY.

JAPAN

may

MEXICO

PANAMA

PERU

PHILIPPINE

ISLANDS

PORTO RICO

STRAITS

·

SETTLEMENTS

URUGUAY

VENEZUELA

troubles?

reault

A Practical Solution. This duty-and it is nothing less than a duty-80 far from being dimeult, would be comparatively It does not re-

meana.

IL

It is a common observation that in the past two years the world has casy to perform. been afflicted by a fall in com- quire the establishment of world- modity prices almost incredibly wide bimetalliam, whatever the sevore and universally recognised merits may be of that system.

far simpler as disastrous, In speaking thus can be done by a

The principal producers of "the world" wo ignore the im portant fact that a very large part mainly, in order of importance, Mexico, the United States, Canada of its trade is transacted on a monetary basis differing materially and Peru-and the principal sellers from our own. The fall in com--among whom the Indian Govern- modity prices is common to all gold ment is predominant--If brought standard countries, but no Buch together, might be relied upon to fall has occurred in China, that agree, for example, that they would vast potential market for British not sell silver for export below

definite price, say 2s per ounce, goods, which still operates on

which minimum might perhaps be complex silver standard.

gradually raised as conditions im- There would be little or

Diminished Purchasing Power.

П

The reason for this distinction proved.

4

a

de- of

is that silver, the Chinese standard no risk of increased production of of value, is itself regarded by the silver In consequence of such Western' world as an ordinary com-plan, for ellver is produced mainly! Commercial and Travellers' Letters modity and has depreciated heavily as a by-product of other metals, of Credit, Travellers Cheques, Bills in terms of gold along with the and the output is not in excess of The fall in normal consumption. of Exchange and Cable Transfera general trend of commodity prices. bought and sold. Current accounta

table to excessive and growing pro- and Savings Bank accounts opened The importance of this fact, from the value of silver is not attribu- and Fixed Deposits in local and for the point of view of China's pur-duction; the dimculty has arisen eign curroncice taken

at rates that chasing power abroad, is obvious, from attempts to dispose of stocks

in be ascertained on application to but its effects are severe also the Bank.

In India, for We are also able to offer our Cajother countries. tomers the services of the Branches example, whose peoples have for of the International Banking Corpora- countless generations been accus- tion in San Francisco and Spain and tomed to work on a silver basis of also of The National City Bank of values, vast hoards of silver have would arreat the trend away from New York (France), BA in Paris

boon accumulated as the savings of ilver standards towards gold, and and Nice.

the common people. They have set up a demand for silver in the

drastic and Cast, which in course Manager. witnessed such

gratuitous, depreciation of their would absorb existing stocks and meagre capital that the unrest re-establish confidence in the an

clent standard of half the world. among the native populations can be explained largely by reference ing stocks the gold standard coun- To the process of clearing exist-

to this factor alone.

F. MED. COURTNEY,

Hong Kong, June 16, 1931.

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

HEAD OFFICE:-Talpeh, Formosa,

Incorporated by Special Imperial Charter, 1899,

A

arising from widespread monetisation and debasement token currency. A scheme for maintaining the gold price of silver

of time

tries could make a valuable con- The light-hearted (Continued on Page 5.)

The responsibility of the West-tribution. erp world for this catastrophic devaluation of sayings, leading to all kinds of economic and social Some jevile, cannot be evaded.

economists are in the habit of at ALEXANDER Back-Holes stated avarage amouni ... Iss. 14,000,000 tributing the recent alump in com

modity prices to the unprecedented- INSTITUT

Central Bank la Formos.

TAPAN-Tokyo, Yokohama, Lobe, Osaka,

BRANCHES AND AGEKOTES:

Takeo, Tama, Tosa, Laito, Taiso,

Hinkow GRINA -Bhangha

Besion, Custome

hey, Foochow,

FORMOSA :-orang Bag Baraka, Kasiung,

Akong, Nanto, Blackiku. Ticku, Tanen, y rapid increase in the world's DE BEAUTE

output of raw materials and finish-

Whether this be true! ed goods. ULHERS - Long, Borapcre, Bowbar or not of most commodities, it is certainly not true of silver, the out-

Damacang, DESTI Boubey' Colou

London, Kew York, DE

LONDOM BANKRUS;

The Loodan Conny Rastolasier and Bar's Bank. put of which has been steady for

The Bank has Correspondants is all the principe

Commercial Centres throughout the world.

K. MAGUNA.

Manager

E. W. DUGGAN,

Manager.

KOKO KONG BRANCH

Des Your Bond Channel. Hong Kong. 19th January, 1929.

Phone 25169. Fedder Building

(1st Floor),

Opposite Entrance to

Hong Kong Hotel.

HEAD OFFICE:-6 Pedder St. Opposite Hong Kong Hotel..

'T'kone 23305,

-ATTRACTIVE TAILORING

The Latest in Gentlemen's Outfting

AT PRICES TO BUIT ANY PURSE,

PERFECT FIT

AND RELIABLE SUITINGS.

WING HING CO.

Gentlemen's Outfitters

64, Queen's Itd. C. Tel: 21417.,

Very Nice Woollen Material

For Minking Ladies' DRESSES

& OVERCOATS

Also FURS &

SILK

HOSIERY Expert Tailoring Department. LEE MOW

Chinese Silk Hosiery Store No. 1, D'Agullar Street

DENTISTS.

HARRY FONG, Dentist,

1st floor, No. 74, Queen's Road

Tel. 21255. Central.

TANG YUK, Dentist. Suceesaora to

the late SIEN TING, 14, D'Agullar Street.

TERMS VERY MODERATE Consultation Free.

ENGINEERS & SHIPBUILDERS.

W. 8. BAILEY.& CO., LTD.,

Kowloon Bay. New Work & Repairs. Call Fing "L" Sole Agents for Kelvin Motors.

FRUITS.

Now in seaSÓTI CALIFORNIA PEARMAIN APPLES

* Just Arrived $9.00 per box. This is the most famous apple in the Orient Quality: Crisp, juicy, sweet and bighly aromatic. Excellent keeping quality. Try a box.

WING COFFEE CO. many years past. The fact is Lustrous Oll Permanent Hair Waves Tel. 25869 189, Des Voeux Road, C. that the whole weight of influence which are Large, Boft and Natural, of the Western world has been Artistic Finger and Marcel Waves, Oll thrown into the scale in favour of Treatment, Bhampooing, Henna Pack gold as a sole monetary metal, and (any colour), Hair Cutting and Mani-

ture for Ladies and Gentlemen. Con against the maintenance of silver | scientious, Artistic Work by European

Expert, Mr. Alexander.

in ita age-old position as a basis of values in the East. This is clear, ly to be seen in our own policy re-

THE BANK OF EAST ASIA, LTD.garding India, which has imposed

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Central. HONG KONG

1

Capital and Surplus

Total Resources ...*****

aver ELS 8,000,000.00. over H.$80,000,000.00

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.

CHARGES MODERATE.

A VISIT WILL CONVINCE YOU.

a gold standard in the teeth of ex- pert opposition, as well as in the steady movement of country after country away from silver towards gold. Ancient habit, however, is Is difficult to change, and It impossible by ruthless government fat to transform the conception of monetary value in countries like China or India. It is the action of the gold standard world, in at tempting to Impose ita polley and inney its monetary ideas on the East that full. fo principally, if not wholly re- sponsible for the disastrous fall in the value of silver.

The reactions of this develop ment on the trade of the West,

AMERICAN CHEMICAL

DIAMONDS.

Equal to real diamonds in brillianty of lustre

Cutsi and hardness. glass like real dia monds. Froof against fire at The brill- file, altrie aeld, ote of lustre will never become Price per rarat; ton shillings,

Terms' Cash or COM THE AMERICAN CHEMICAL

DIAMOND CO; > }

P.O. Box No. 240, Pening.

PHOTO-SUPPLIES

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

Enlarging.

ZIESS and BUSCH FIELD" GLASSES

Price Moderate,

A Trial Order is Solicited

A. SEK & CO.

Tel No. 23459. 26A, Des Voeux Road, C.

LITERATURE.

BOOKS for All

Bibles, Pocket Testaments, Prayer Books and Stationery. General Literature Presentation Books Children's Books a Speciality. THE BOOK & BIBLE DEPOT. Wyndham Street.

Next to King's Theatre,

Agents for

British & Foreign Bible Society The Rellglous Tract Society and The League of Nations' Society,

GENERAL PROVIDERS.

Junt

arrived

A Finc

Selection

of

GENTLEMEN'S AUTUMN HATS.

We have also a very fine rango of TIES in all the latest new Autumn colours and patterns.

WE SOLICIT A TRIAL.

THE CENTRAL CO. 193, Des Voeux Road C. Tel 27023.

HAIR DRESSERS.

LEE YEE,

Ladies' and Gentlemen's Hair Dressers & Booksellers, No. 12, D'Agullar Street. (opposite Queen's Theatre).

LIANG YOU

LADIES' & GENTS' HAIRDRESSERS.

MR. ST. ONEN.

Expert Permanent Waver, etc. English, French & American Methods. Moderato Charges. King's Theatre Buildings. (D'Aguilar St. Side). Tel. 20315.

LADIES' AND GENTLEMEN'S HAIR DRESSING SALOON. ON LOK

(AH HING)

10, Wyndham Street, 1st Floor, Entrance On Lan St. Tel. 22317.

OPTICIANS.

THE HONG KONG OPTICAL COMPANY,

'Phone 22232. 53, Queen's Road Central

SHOES.

Patr

Black or Browa Shots from $6.00. Black or Brown Boots from $8.00, Children's Boots' or Shoca from $2.09. Bost styles, most complete stock of all sizes. Repairing a 'speciality, WONG SIU WOON

21, Pottinger St.

Phone 21474,

SPORTING GOODS.

ATHLETIC

GOODS

AT

THE LIANG YOU CO.

70, Queen's Road Central.