1931-12-04 — Page 2

THE

CHINA

MAIL.

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION,

Authorised Doplišč, namamas

Corund and Fully Paid-ng

Bowsers Myada 2-

teringin 1,500,000

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

:

THE HO HONG BANK, LTD.

(Established 1817.)

HEAD OFFICE:--BINGAPORE. Hong Kong Branch: 18, Queen's R& C.

Authorised Capital Straits $20,000,000| Issued Capital

}

MANILA

MEDAN

Every description of Banking and Exchange business transacted.

TAN ENG HOOL,

Manager.

Paid-up Capital ...

A

8,000,000

4,000,000

Reserve Liabilitios

HEAD OFFICE: LONDON.

of Shareholders Surplus

4,000,000 2,087,000

Kirar amantes

$10,000,000

Paid-up Capital

.£8,000,000

Bootys Link-díky at Tropciašars - 136,000,000

Bezerro Fund

.£4,000,000

· XHAD «VYTUR, HONG KOKE.

Reserve Liability of Pro-

prietor

Branchos, Agoncios and Correspon. dents in the principal cities of the world.

.#8,000,000

Agencies and Branches:

ALOE ETAS

KUORING

AMRITSAR

BANOKOK BATAVIA

MADRAS

BOMBAT

CALCUTTA CANTON DAWNFORD CIBU

DAIREN

DELHI

#IP19:

HAMBURG

LANKOW

HINGAPORE

LYONS

НАДНИЯ

NITIAWAN

HUNG TỔNG

BUURA DATA

2110001

ILOILO

TAIPINO

MANILA

Trog

TIENIBIN

„KUAR (Jobars)

KARACHU

LANG

KUBE

IONOKAH (Duet) TSINOZAO

NEW YORK

KUALA KANGSAM

--FRIPINO..

KUALA LUMPUR

Foreign Exchange

YOKOHAMA ZANDUANGA

and

General

BOARD OF DIRECTORS—

B. M. 0. G. 1. Markle. Chairman.

Hos. Mr. J. J. Paterson, Deputy Chaman.

Sam Ky. *. M. 341, T. 1 Forces, Bea IL

Compton, Beg, J. A. Fiumenat, Meg

#. Landa Lewis, Hoe. T. H. 1. IT; Bw.

N. Graybars, Mos

ANCHES:

LONDON

AMOI

ВАЛЬКОМ

MATAVIA MOMBAT MALOUTTA

BASTON XSFOO COLOMBO

DAIN

BOCORROW MALHOT HAMBURG

KONGKAW

CO

G

KOWLOON

KALA LUMPUR

ΠΙΝΑΚΟ

BANDOOR

SALOON MAN

SINUAPORM

COURABAYA

EUNGRI PATAM

TIENTRIX

TOKYO

TSINGTAO

TOKOHANA

Derreal Konouzie oposed in Lil Outubr

sud Frad, Depaulia maited for the persian

kartor seriale in Lossi Currsary nud

in scene which will be quried su soplasties.

Hong Kong, 10th Tobrsary, UNI.

HONG KONG SAVINGS BANK.

The Busine of the shere Bank la soodsai.

COLOMBO

NEW TORK

PIPING(Poklug)

PERANO RANGOON SAIGON SERABANG BEREN HAN BHANGMAL

TOKYO

Banking business transacted.

Current Accounts opened and Fix

ed Deposits received for one year or shorter perioda at ratos which will he quoted on application.

BANQUE DE L'INDOCHINE.

·HEAD OFFICE:

96, Boulevard Hausmann, PARIS.

Capital fully paid up .Frs. 120,000,000 Reserves (31.12.1980) Frs. 116,668,454

BRANCHES:

P

Indo-Chine. Chiun. Other Placos Saigon

Canton Hanol

Bangkok Fort-Bayard Haiphong Battambang Hankeou Djibouti Cantho Thanh Hoa Hongkong

Noumes

Hue Nam-Dinh

Manager.

Pnom-Pent Quinhen Tourane

J. STUART,

Hong Kong, 17th August, 1981.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NHTHERLANDA TRADINO BOCIETY, DANKENS.'

Betabilehed 1834.

Hong Kong Offon:-11, Qusen's Road Central. Autorland Capisal

dulldom 146,500 DIG.

by HONG KONG AND SHANGHAI

BANKING CORPORATION.

Bai

be

waland on cooltontion.

SANKING CORPORATION.

Paid Up Capital

Rowevo Para

Krog Kang, Bih July, 1900,

FOR THE HOUSUNG AND SHANGHAT'

V.. GNATBURE,

THE BANK OF CANTON, LTB. Eatablished 1912.

Bend Once:---Hong Kong. Athwal Deptha! (D.K. Caryyazy) 811,000,00

Be Fant 1,100,000

KELMODEL -

Danion, Pangkal, Hoskew,

Bangi. Fru Yacht and Bed Framalann

DOBRESPONDENTU

LONDON BANKEND :--|

''The Lord's Bank, Limited.

Te all principal cities of the World.

Foralys manga and beaking badass of

arry Locaription caracted.

Isis Pspocit Bess (tacions visas) si a posiz

conia at from $ 80.

LOOK POONG SHAN,

Chief Manager.

THE BANK OF CHINA. 行銀國中

INTERNATIONAL EXCHANGE

Subscribed Capital...$25,000,000.00

(12.600,000) Bulldar 30,050.000.

(ASA 175.) fiuliders (0,016,000

(23,834,183.)

لامردار

Head Office-AUSTERDAM”, Pastors Load OK:-BATAVIA,

Bandoeng" Benan-Bandjermpala,

Bombay, Calouva Choribon, Damber.

Koln, The linguo". „Jiddah, jakarta". Makamine, Modati, Palomtung. Feka. Logan, Pranay, Rangoon, Rotterdam", Semarang, Bhanghal, Mingapore, ere. bala, Boerakarta (Solo), Tripal, Tjilstjup and Wolleroden".

• Thura officem bare Safe Deposit Boxes to AL

LONDOS BANKERS !---

NATIONAL PROVINGIAL BANK LTD, Correspondrats all over the world. Basking S

ty dowseiption transacto

L. STOKKINK,

Stong Kong, 1 Doomaker, 1987.

THE

Manager.

AMERICAN EXPRESS COMPANY, INC.

Head Office: 65, Broadway, New York.

Ábera

ASYENT

Atheni Banja

Capital

special charter of The National Gov- ernment as no

Reorganised October 28, 1928, under

Barplus

Headryes

BANK.

Pald-Up Capital

-$24,710,200.00

Berlin

Baserve Funds

8,820,605.85

Marrie

Bomby

Home

HEAD OFFICE: BHANGHAI.

Brussala

Buance Atres

BONG KONG BRANCH:

Celing Caloutta

Colombe

4 Queen's fload Central

Owing to our numerons 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 leane of Bonds and other Public Funds of the Chin- aso Government both at home and abroad,

BHOU J. CHEN,

Manager. Hong Kong, 5th March, 1981.

.

.U.8.$6,000,000 13.8.$1,672,456 U.S.$1.908,209

DRANCHES:--

Ün Glasgow farans Hamburg

Interlaken Jerusalem Lido London Elvarposi Lusine Lagano Lasor Mares!low Moabe Carls

Manila

Munich Montauk

Nie Naples Pitavus Paria

Facang Peking l'aeros Bistardas Bocsa Blambou

Tikang

doa shampion Banpar St. Moris

Tantaik

VILLDE Venice Ickobama Zurich

Constantinopla Copenhagen Edinburgh Plores Ответи

Expros Branches of American Company in Principal cilius of Unit- ed States of America and Canada.

All classes of Commercial Banking Transactions undertaken.

+

Personal investment accounta handled.

The Company offerr v intending Travellers the use of its "Travelore Cheques" 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 (fully paid-up) Yen 100,900,000 .Yen 116,200,000 Reserve Fund

Head Office:~YOKOHAMA,

Branches and Agencies st:

Alexandria

Batavia

Berlin

Bombay

Calcutta

Canton

(Dalny)

Nagasaki Nagoya

Newchwang New York

Ozaka

Par

Palping Rangoon (Makdan) Rio de Janeiro

Hatobsingl

Hong Kon Honolulu

Los Angeles Manita" **

San Francisco

Seattle Bemarang Shangha Shimanowski Singapore

Boerabaya Bydney

Mantain

Tokyo Triärten Interest allowed on Current A Depoasts rpopired for fixed perioda at rute to be obtained'en "application.

and at mabA FERMORE,”

Affiliated with

THE CHASE NATIONAL BANK Konurces ..Over G$2,500,000,000

Vinh

Mongize Poping

⚫ l'apeete Shanghai

Pondicherry Tientsin Yunnanfou Singapore Every description of Banking and Exchange Business transacted.

Interest allowed on Current Accounts and Fixed Deposits according to Ar

rangements.

Safe Deposit Boxes to lot. Travellers' cheques izved.

A. BONNAUD,

Manager.

5, Queen's Raul Central, French Bank Buliding. Hong Kong, 1st November, 1981.

THE NATIONAL CITY BANK OF NEW YORK. HEAD OFFICE: 55, Wall Street,

New York..

Capital, Surplus and

Undivided Profits ..U.8.4226,087,392

Branches in:-- ARGENTINE LONDON BELGIUM BRAZIL

CHILE

CHINA

COLOMBIA

CUBA

DOMINICAN

REPUBLIC

INDIA

ITALY

JAPAN

MEXICO

PANAMA

PERU

PHILIPPINE

18LANDS PORTO RICO

STRAITS

SETTLEMENTS

URUGUAY

VENEZUELA

Commerce and Finance

THE RELATIONS OF COMMERCE

AND CURRENCY

OVERPRODUCTION NOT THE EVIL.

By FRANCIS L. HARDEN, MD,, M.A., kto Adviser in Military Medicine and Chemical Warfare, Nanking; late Associate

Editor, "The China Press," Shanghai,

not

our

or.

Let it be stated clearly and em- "This is no time for adulation; the smoothness of flattery will not phatically that the world's popula save us in this rugged and awful tion can absorb all that the wit Commerce crisis." Are

the historic of man can produce. words of Chatham peculiarly ap- stands firmly upon three great sup propriate to the present position of ports-production, distribution and exchange British production is our country?

it is standard Not by force

but sound-indeed, of arma through

honest commerce has around the world. At no time in England won her greatness. Is our history has distribution been not pathetic to contemplate the more highly and efficiently

Bemains the third fac present condition of that foreign ganised.

national tor--exchange. Here is the weak trade upon which

To link in the great chain of inter- prosperity has been based? day one-third of our registered national commerce, marcantile tonnage lies rusting at Half the world

usca silver, anchor-no cargoes. Lancashire which we have elected to treat as is bleeding to death-no business. & base metal unfit for any con- What is the cause of this unpre sideration-"His Majesty's Govern

How cedented national depression? My ment lo not interested."

an effective emoften has this pernicious depart answer Is that bargo has been laid upon foreign mental response been uttered in trade by our foolish refusal to re- the House of Commons by those cognise the perfectly honest, pure who sit in loco superiori 'and con silver currency used by one-half template with partisan aloofness the world. Manifestly, if we re- the ruin their callow hands have fuse to regard honest Asiatic coin-wrought. Alone among the great age as money, that continent can nations of the world, the United no longer trade with us. This is States has attempted to aid. the actually what has occurred.

cause of silver-man's most an- England has presented China clent medium of exchange. Even She has vir- to-day. American dollar currency with cheap money. tnally given China a bonus on carries the legond that "One Sil- production. At the same time we vor Dollar” will be paid on de- have 'enabled' China erect maad. In February of this year (through exchange) the highest the United States Senate passed possible tariff upon imports. The without debate and unanimously a result is briefly this: Unable to resolution instructing President purchase from England, the Chin Hoover to call an international ese are manufacturing for domes conference to deal with the ques- tic needs and are exporting cotton tion of silver stabilisation. It is goods not only throughout Asia

(Continued on Page 11.) and Africa, but into the Mediter ranean basin also; Customs House returns published at Shanghai show cotton shipments to Alexin- and Con- drin, Beyrout, Smyrna stantinople. Our excellent cus- tomer has been reduced to the condition of a needy competitor.

Lost Asiatic Trade. Within the last two years

to

the

Commercial and Travellers' Letters capacity to purchase British goods of Credit, Travellers' Cheques, Bill of 1,000 million people has been of Exchange and Cable Transfers reduced by 60 per cent, and for bought and sold. Currant accounta

must

accept

શ

and Savings Bank accounts opened this unhappy condition England's and Fixed Deposits in local and for administration aign currencies taken at rates that heavy load of responsibility. may be ascertained on application to "The fault, dear Brutus, le not the Bank.

We are also able to offer our Cus tomers the services of the Branches i

in our otura, but in our- selves."

of the International Banking Corpora- į From time immemorial Asia has

tion in San Francisco and Spain and used silver either as currency or

also of The National City Bank of store of New York (France), Sis Ja Paris and Nice.

F. MED. COURTNEY,

Hong Kong, June 16, 1981.

value.

England has

foolishly followed in the footsteps

of Bismarck and laid a most affec- Manager.tual embargo upon her own com-

merce. Our

Is Asiatic trade

Already mori- shrinking daily. bund, it will shortly expire beyond all hopes of resurrection.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO.)'

HEAD OFFICE:-Talpeh, Formos.

Incorporated by Specia! Imperial Charter, 1899.

Let us as calmly as may be ex- amine the present condition. Depreciation of silver has wrecked England's Oriental trade. To that depreciation we have blindly con- tributed. The purchasing power of China has been crippled by ad- ministrative action emanating from Central Back in Formosa. Bank-Nowe seed Average amount ... $1,006,00 Whitehall and Delhi. India is to

BRANCHES AND AGENCIES:

day selling for 18. Id. per ounce JAPAN-Tokyo. Yokohama Koba, Osaka, FORMOSA 1-Oran Bag. Kanako Keslung silver purchased from America in Makong, Hanto, Chinchin, Taika, lai 1920 for 40. 2d. Incidentally, GHINA --tbaughal, Hankow, Amor Foochew that silver was not paid for it is

Hwadom, Canion, OTHER: Keng Hingapors Borabaya one small item of the great war

Becharaba Batavia, Bombay.

Takao, Tacos, Town, 10, T

London, New York Dairan.

LONDON BANKRES (

Delozia debt.

The London County Waimer and Parr's Bank

At the same time, India

has placed an import duty of 50 per cent. ad valorem upon silver,

The Bank has Correspondents la all the tapal apparently with the solo object of

Commercial Centres skroughout the world.

NAGURA.

Manage.

E. W. DUGGAN,

Manager.

HONG KONG BRANCH ‡.

2, Dan Four Bond Central Hong Kong 19th January, 19M.

closing one great market and fur- ther crippling China's currency. Manipulate words as we will, these are the facta.

A Fallacy,

Some years ago a great econom- ist, a most profound thinker, a

THE BANK OF EAST ASIA, LTD, philosopher whose réputation was

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Central HONG KONG

Capital and Surplus .......... Total Resources

over HS 8,000,000.00 over $30,000,000.00 Every description of Banking and Exchange business transacted.

Current and Fixed Deposit eign currencies opened for alle counts in local and for-

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

KAN TONG PO,

Chiet Manager. BAL 19199 T

international, announced to the world of commerce and finance that the recurring financial crises) that shook civilisation at almost regular intervals were produced by spots on the sun. Amazing as it may appear, the world's bank- ers, financiers and captains of in- dustry actually accepted with javid credulity this preposterous' theory.To-day, thinkers of this same school. blandly' assert that overproduction is the cause of all our economic foes. And this while five million people perish of starvation in one Chinese pro- Vince, and scores of millions aro without ne

clothing or shelt

FRIDAY, DECEMBER 4, 1931.

Shampooing

Rugs

ROLLS

OF DIRT

CARRIED

AWAY

and

Carpets

BEFORE

ROLLS

OF

CLEANLINESS

BROUGHT

BACK

CLEANING

AFTER CLEANING

Winter Cleaning time will soon be here. Dirt, groase and OUR stains cannot be removed by vacuum cleaning. SPECIAL SHAMPOO PROCESS will clean your rugs as they have never been cleaned before. Write, Phone or Call. Our collectors will collect anywhere in the Colony,

THE STEAM LAUNDRY CO.

Sanitary Laundrymen, Dryers and Dry Cleaners, HEAD OFFICE & WORKS: Mongkok. Tel. 57032. KOWLOON HOTEL DEPOT. Tel. 58008.

HONG KONG DEPOT: 80. Queen's Road, Central. Tel. 21270 PEAK HOTEL DEPOT.

PENINSULA HOTEL (Visitors vnly).

HONG KONG HOTEL (Visitors only), 78, WYNDHAM STREET.

SPECIAL VALETERIA SERVICE.

No. 2, PENINSULA HOTEL ARCADE. Tel. 58081.

No. 964, Nathan Road (Next to Majestic Theatre), Tol. 58205. No. Co, Queen's Road, Central Tel. 21270.

Don't Put Off!

LAST TWO DAYS

OF

GRAND WINTER

SALE

TO-DAY & TO-MORROW

For All Cash Purchases of over $1.00.

An Additional reduction of 10%

will be given,

IN COUPONS

ABOVE THE USUAL SALE BARGAIN PRICES

THE WING ON CO., LTD.