1931-12-09 — Page 2

4

100,000,000

THE

CHINA MAIL.

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Zalberized Capital immemintammEASED 10 Error and Falls Pullup Bocorro. Pažleşen

Chefs of cores reperie # 1,800,000

THE NEW

$10,000,000

Mareve Lakin af Propriadors ........ 910,105,000

MELD SYRIEN: MORE HOME.

BOARD OF DIRECTORS )--- M. Mr. G. G. E. Maskia, Cheltumu.

Hos. Mr. J._J. Patorvos, -

Deputy Chairma

W. II. Hell, Feq. T. Touros, Rou

B. X. dompton, Mog. 1. à. Hammer, Hos

2. Lother Lewis, 394. T. H. R. The

J. P. Warren, Bey.

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

THE HO HONG BANK, LTD.

(Established 1917.)

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

1 4,000,000

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

8,000,000 Paid-up Capital .... Reserve Liabilities.

of Shareholders. Surplus

AMOR

BANUKON

BATAVIA

MOMBAT

Chiel Manager.

T

N. Graylern, Box.

NALOUTTA

LANOĦRU :--

LONDON

LYONE MALADOA

HEAD OFFICE: LONDON.

И

4,000,000 2,687,000

Paid-up Capital

Reserve Fund

Reserve Liability of Pro-

prietors

£3,000,000 .£1,000,000

#3,000,000

Branchos, Agencies and Correapon- donte in the principal cities of the world.

Agencies and Branches:

ALOR STAR

IUONING

AKBITHAR

MADRAR

MANILA

NEDAN

BANOXOS

BATAVIA

BOMBAY

Beg

GENO COLOMBO DAIREN

DELHI

Every description of Baning and Exchange business transacted.

TAN ENG Hoor,

Manager.

JALOUITA

DANTON СДИКРОДИ

NEW YORK

PRVING (Peklog)

PENANG

BANGOON

BAIOON

BEMARANG

BANQUE DE L'INDOCHINE.

HEAD OFFICE:

96, Boulevard Katusmann,

PARIS.

HAIPHONG

HAMBURG

BEREMBAN

BUANOMAI

HANKOW

RINGAPORE

F

WAZIR

SITIAWAN

HONG LONG

BOURABAYA

ILOILO

TAIPING

MANILA

POH

TIENTSIN

MUAR ($charo)

KARAOK

TUKTO

KLANG

YOXDEN

TUNGKAH (Bbuksi) TRINGTAO

KEW YORK

TOKOHAMA

PREFIXO

Indo-China. Saigon

Capital fully paid up .Frs. 120,000,000 Reserves (31.12.1980) .Fr. 110,568,454| BRANCHES:

China.

Canton

Hanoi

Halphong Fort-Bayard

Canthe

Thanh-Hoa Huo

Nam-Dinh

Battambang Hankeou

Hongkong Mongtze Poping

Prom-Penh Shanghal

Other Places,

Bangkok

Djibouti

Noumea

Papeete

Pondicherry Tientsin Yunnanfou Singapore

CANTON **

SUZYDO BOLOMBO

roodkow НАЦИОНА HAMBURG MAKKOW MARKIN KOKOLEW ILOILO

РДНАХО

BANGOON

EAIGON

HAN YRANDIB00

SINGAPORE

COURAMATA

GUNGRI PAZANI

TIENT IN

TORTO

Кови

KUALA KANGSAM

KUALA LUMPUN ZAMBOANGA

Foreign Exchange

and General

Banking business transacted.

Current Accounts opened and Fiz. od Deposits received for one your or shorter periods at rates be quoted on application.

which will

J. STUART,

10M

KD

TAINGTAO

TOKOHAMA

LUMPUR.

KOWLOOK

KUALA

Emre Azale opened in Lawi Curende 200 and Depois osolved in one year 1 Thaise parlada in Lamond Outrosey and Blaclita an sorma which will be quoted in appliendom. Hong Kong, Pecember 7, Emy,

HONG KONG SAVINGS BANK.

The Business of the above Bank is aaudzet

4 by the HONG KONG AND SHANGHAI

MAKING CORPORATION,

ablained 6 ppiliation.

FOR THE HONGKONG AND BHANGULI MARKING OOMPORATION.

7. M. GRAYBURN,

Hong Kong, 184k, July, 1500,

THE BANK OF CANTON, LTD. Katabilahod 1913.

Head Office: Hong Kong.

Batbochod Osplici (1.I. Cuzinney}' 311,000,000 Fold-Up Capil

Kamerò Fand seeneses

DIAMONES

Dusion, Flangesi,

1,100,904

Hanhaw, Gwadow,

Bengkak, Now Toch and Son Femmelave

CORRESPONDENTE

LONDON BANKZRE |–

The Lloyd's Bank, Limited,

Es all principal cibine of the Wel.

Vorig hangs and beckian bustamen o

way downtyslem transacted,

Sala Depse Boxes (various dean) si a zaarly

vered a from $10 $40.

LOOK POONG BHAN,

Chief Maragar.

THE BANK OF CHINA. 行鋇國中

Manager.

Hong Kong, 17th August, 1931.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS THADING SOCIETY)

DANKERS.

Extalibuss 1821,

Hong Kong Offer:-11, Queen's Road Central. Authorised Caplis ................................... Guilder 220,000,000-

[R12,000,000.)

- Caplist Guilder 80,000,000. (24,880,17.) Iterre Fard

Guilde 40,015,no (43,384,CEB.) AMSTERDA

Head Of Eastern Road Difer :~~~HATAVIA,

درو

Branchen :-Jardinem, Bandoeng", Bombay,

Calcutta, Chezbon, Djember, jakarte. The apue, Jidda, Kobe, Maker Meden. Palembang. Pakk Langan, Penang. argoon, Aniterdam' Hemarang. Abang, Singapore, Horr bela, Barakarta (Solol, Tegel. Tillating and Wallnereden®,

* These officer have Safe Deposit on to Let.

LONDON BANKELS

NATIONAL PROVINCIAL BANK LTD.

Correspondents all over the world. Banking Bus form ul everz, deberigstion transeused.

A. STOKSINE.

Hong Kong. Ist December, 1973,

THE

Manager.

AMERICAN EXPRESS COMPANY,

INC.

Bead Office: 65, Broadway, New York.

Reorganised October 25, 1929, under

Capital

special charter of The National Gov. ernment as KG

Surplus

INTERNATIONAL EXCHANGE

BANK.

..$25,000,000.00

Bubscribed Capitai

Paid-Up Capital $26,710,200.00

Reserve Fonda ......$ 8,820,503.81

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 ellents special facilities for domestic and foreign banking and exchanges.

Our

Reserves

Autorkam Antwo Athang

سامعة

.U.S.$6,000,000 ....U.S.$1,572,454 .U.5.$1,208,209

BRANCHES:-

Get

Ci Havana Hamburg Hatre Interlaken

Berlin

Barris

Bothy

Jerukiam

Besla

Loodan

Buzanne Alzne

LIT Arpool Lucerne Lega

Caire

Olila

Colomb Constantinople Copenhagen Edinburgh

Morence

LA For

Nico Hispare Pir Parle

Penant Peking Palermo Bollardare Roma

Bambool

Shanghai Boushibok

Singapore

Karseillas

St. Morita

Moals Carle

Manila

Tracisin Vienna

Malah

V Yokohama Zurtsh

Mantrops Kilan Branches of American Express

We also handle the issue of Bonds Company in Principal cities of Unit- and other Publis Funds of the Chined States of America and Canada.

a Government both at home

abroad.

SHOU J. CHEN,

Manager.

Hong Kong, 5th March, 1931.

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880.

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

.Yen 116,200,000

Head OMee:-YOKOHAMA

Brinches and 'Agenelen at?

Alexandriä

Batavia

Berlia

Bombay

Calcutta

Canton

Nagasaki

Nagoya Newchwang

New York

Daaka Paris

Papink

Changchua

(Balny) Rangoon Fention (Mukden) Rio Hambary

Hankoy

Harbia

Hoar Kong Honolulu

Xaf Yuen

Karachi

Lobe

¡Los Angeles

Manila

Janeiro de San Francisco Seattle

Semarang Shangha Shimonocak!

Blugapore

Bourabaya

Sydney

Tientaln Tokyo Tringtau Interest allowed on Current Ao- соідо

Deposits received for fred periode st rabo to be obtained on application,

H. MORI

2- Manager. Mone Kong, 11th September, 1821

All classes of Commercial Banking Transactions undertaken.

Personel Investment accounts handled

The Company offers to intending Travellers the use of its “Travelers Choques" and Letters of Credit and, in addition, the world-wide services of its thoroughly equipped Travel De- partment.

E. W. DUGGAN,

Manager.

Quinhon Taurano Vinh

Every description of Banking and Exchange Bualnoas transactod.

Interest allowed on Current Accounts and Fixed Deposits according to ar

Safe Deposit Boxes to let.. Travellers' cheques Issued.

A. BONNAUD,

- Manager.

rangements.

5, Quonn's Road Central, French Bank Building. Hong Kong, 1st Novembor, 1981.

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55, Wall Strest, New York.

Capital, Surplus and

WEDNESDAY, DECEMBER 9, 1931.

creditor to debtor has come, sud- denly, both masked and accelerat- ed by the war. Tariff policies,

by them as great aids to national

Commerce and in

Finance

REPORT OF BRITISH NATIONAL COMMITTEE OF INTERNATIONAL CHAMBER OF COMMERCE

The document which is dated ments 16th September, 1931, reads follows:-

as

in

BUSINESS IN CHINA' TO-DAY.

Shanghai, September, 1991. The following extract is taken

progress, have become high tariff from the London Chamber of Com- policies regardless of the obliga- morce Journal of November, 1931. tions imposed by the change ...of To write month after month re- position from that of debtor to that ports such as those that musi jof great creditor.

necessarily be coming from China, Creditor Nations Fall to Recognise

is na depressing as it must be to Their Duty.

Wrecking the World. 10. The inconsistency

of Customs.

9. The creditor nations are fail-rend them but if the reports are to be worth anything, they must re- ing to recognise the duty which Hes upon the creditor of not pre-present things as they are, and not venting the debtor from paying. as one would wish them--to be. Great exporting and creditor na- There is no sign of improvement, tions are not realising the truth if a survey is taken of Ching to- either on long term or on that they cannot sell unless they

It is impossible to do busi- short term. High customs tariffs support the world market, either day. have interposed a most serious as buyers or as permanent inves-ness on a major scale in prosent

For a great creditor nation conditions. obstacle to the discharge of these tors.

two

The Customs. "1. In July last, on the return debts through the transfer of in the world market the

As indicated in previous letters, of the British Delegation from the goods, while the attempt to dis- policies of selling freely and of

the International charge them by these means has refusing to buy are incompatible. the Canton Government has seized into Persistence in these two opposed the revenues of the Customs at all Congress of

trade forced international Chamber

of Commerce held

Their dis- policies is bringng about a state ports within its jurisdiction. This artificial channels. Washington, where the economic charge by short term loan has of affairs destructive of the fabric does not immediately affect foreign bondholders who are interested in loans secured crisis of the world was the chief introduced financial instability in-of world trade.

upon the Chinese a general re-asmuch as the risk of sudden with-

The Canton authorities topic of discussion,

drawal of short term moneys is n

a have no desire to estrange the for- port was given to the British Na-constant potential source of ex-these policies has resulted in

The new creditor clash of two irresistible forces. leign Powers; and they are under- tional Committee of the Chamber jchange crises.

be setting aside that und a Sub-Committee was appoint-nations have not consistently main-Rich and energetic sections of the stood to

tained a policy of long term for human race have Inflicted great in- portion of Customs revenue which ed to report in more detail.

sufficient jury on the fabric of world trade is earmarked for the service of for- in eign investment

But they resolutely The economic crisis of the world volume or with sufficient persis-without their people understand eign loans. and Great Britain has developed tence to offeet their unwillingnessing that they are wrecking the refuse to find the money to meet world and that in wrecking the domestic loans also secured on the Customa rovenue. They argue. so rapidly that the Sub-Committee to be paid in goods or services.

world they wreck themselves. Abnormal Demand for Gold. believe the British National Com-

with some justice, that if they re- 6. In consequence of the inaum-

mitted this money to Nanking. mittee will be glad to be informed ciency of the methods of discharge

11. Creditor nations must ac. they have no guarantee that it without delay what their Sub-of International debta by Committee consider to be the main transfer and receipt of goods, or cept an adverse balance of trade as would not be used in the purchase (by foreign investment, it has been a corollary and complement to of war material which would be causes and will wish them to de- necessary to transfer gold. This their wealth or must alternatively ultimately directed against them. an even flow of per. The Canton Government has not fine also the steps which in their abnormal demand for gold has maintain

Until the ingenuous belief in the Nan- opinion Great Britain should take raised its price and, as is well manent investment abroad.

king Government that is held by. is recognised there known, a rise in the price of gold this to protect her own

expresses itself by a fall in the every prospect of prolonged do- some of the foreign governments who are still negotiating about unemployment pression, increased economic position and to start bet price of all other commodities.

the surrender of extra-territorial Maldistribution of Gold. {and unbalanced budgets. These ter conditions in world trade.

lat onte

in the hope that they will pubitely

the

What Creditor Nations Must

4 Recognise.

diminished and unemployment In- creased.

7. The present maldistribution factors have already threatened rights. 2. The report which follows has

of gold is, therefore, directly the stability of Great Britain, boen drawn up by the Sub-Com-caused by the desire of the credi- Austria, Germany and other na mittee with that object in view tor nations to be paid for their tions.

on their

Causes of Calamitous Fall in and the Chairman of the British exports and for intorest

Prices. at the

Case of Britain. 12. The National Committee, Lord Luke, is international loans, while

same time these same creditor na-

uneven expansion in eirculating it to the constituentations refuse to accept payments in productive capacity and the uneven

13. In Great Britain, in parti- Undivided Proûts..U.B.$226,087,8yg of the British National Committee goods or services, or to maintain distribution of gold stocks, refer- cular, the direct and indirect caused the effects of the fall in prices has their volume of foreign Invest-red to above, have

calamitous fall in wholesale prices ments at an adequate level.

been s serious reduction In the Sudden Change from Creditor to which has characterised the world volume of British invisible ex- depression. This fall in prices 8. In some cases the desire for has in turn led to a dis-equilibrium ports; that is of payments of ship- ping freights, banking, insurance future between the costs of manufactur- and other services, and in the tangible guarantees for 3. Daring the post-war years security has coloured the outlook ed goods and the costs of primary yield of investments abroad. there has been a gradual upsetting on international affairs in the post commodities. The great world ex-

financial equili-war period to the detriment of change between these two classes Coupled with the diminution in the volume of British exports, this of economic and

the general economic situation. of goods has been interrupted so brium by-

In other cases the change from that all trading activity hus (Continued on Page 11.)

CHILE

Branches in:

PHILIPPINE

ISLANDS

ARGENTINE LONDON

BELGIUM

MEXICO

BRAZIL

PANAMA

PERU

CHINA

COLOMBIA ·

CUBA

PORTO RICO

DOMINICAN

STRAITS

REPUBLIC

INDIA

ITALY

JAPAN

SETTLEMENTS URUGUAY VENEZUELA

Commercial and Travellers' Leitora of Credit, Travellers' Cheques, 'Billi of Exchange and Cable Transfers

endorse it.

Faciers Upsetting Economic and Financial Equilibrium,

(a) An uneven expansion in pro

bought and sold. Current account (b) and Bavings Bank accounts opened and Fixed Deposita in local and for

at rates that eign currencies taken

duction capacity agricul- tural, mining and industrial; The existence of international debta;

may be ascertained on application to (e) The post-war policy of high

the Hank.

customs tariffs; and

We are also able to offer our Cas. tomers the services of the Branches (d) The

of the International Banking Corpora tion in San Francisco and Spain and also of The National City Bank of Now York (France), BA in Parla and Nico.

uneven distribution of

gold stocks.

Over-Supply.

4. During the war, the

dig.

F. McD. COURTNEY, turbance of normal productive Manager activity in the belligerent nations

Hong Kong, June 16, 1981,

led to an abnormal development of production in neutral countries. |

THE BANK OF TAIWAN, LTD. After the war, the restoration of

(TAIWAN GINEO.)

HEAD OFFICE:-Taipeh, Formoss.

Incorporated by Special Imperial Charter, 1899.

Dentral Bank im Poezmono.

the impaired capacity, combined with the maintenance and further! extension of the New productive;

has led to an over. capacity.

when supply of many products, that supply is related to the de-

Bank-Noten sasued Avirage unovas M.Tan, 18,000,000 mand.

NHAKCHES AND AGENCIES :

JATAN:-Tokyo, Yokohama, Kaba, Danka. FORMOSA 1-Čiran, Kagli Karac Kalang.

Makong, Nanie, Bhachin Taloku, Than Takao, Tamani, Toen, Hello, Talso OKINA 1-Shanghal, makow, Amry,

Foookow.

Trade Forced Into Artificial Channels.

5. International debts must be OTHERS-Hang Long Bingapore, May discharged by the transfer of

Bwelow, Danton

Bew York Dairen,

Balaria Bombay Calocita

London

LONDON BANKERS ;

goods, or services, or gold, or by

The London Cously Wasimningsor and Puer's Bank. balancing international invest-

The Bank hos Correspondents in all the peladasi Comertal Canime ihroughout the world.

XAGU..

1 KY LA

KONG KONG BRAMON,

De Vuz Bonë Cantril. Hong Kong Ish Janosey, 1996.

KALA.

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Central.

... HONG KONG

Capital and Burplus .....

Total Resources .........

THE MERCANTILE BANK OF

INDIA, LTD.

HEAD OFFICE:

15, Grasskazok Bleest, London, 2.0.1 Authorised. Capftai

.£3,000,000 1,800,000

Subscribed Capital Paid-up Capital - 1,050,000 Reserve Fund and Rest 1,666,845 BANKERS;

The Bank of England & Midland Bank, 144.

HRAMONER:

Kaidy

J

Bangkok

Ipok

New York

Batavia

Bombay

Xarack

Panab Fork Louis

over HL.$ 8,000,000.00 .................. over H.$30,000,000.00

Calsalle flators Dalbi Chila

Xola Bharo

Kuala Krai

Kuala Xiple

Kuala Lumpur

Flowsk

Kuantan (Pahang, Anspre Maden

Barsbaya,

•

Every description of Banking and Exchange business transacted.

Current and Fixed Deposit Accounts in local and for aign currencies opened for cllants.

Bavings Account and Bafe Deposit Boxes, Branches and Agencies all over the world.

KAN TONG PO,

Chief Manager.

Manzone! thangal

Ginsta

HONG KONG BRANCH,

Brary desorption of Banking Bad Rxchange bad- ness transscled

Travellara Chaynes Innised,''

Trustee and Exeentorships under- taken.

GINTEREST | Mlowed on reset out and Maad: Deposite, mi Balog thað, may be severjained on application.

VŃCZİL, SANDES:

3. Queen's Road Central,

Hing Em 2015 April, 2006.

Manager.

Debtor.

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