1932-01-04 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorised Capital

Imanol and Fully Fuld-up

Bevers Panda --,

Aborting

Sierr

De £8,500,000 $10,800.000

30,000,000

Bosorry Liability of Proprietors +... $90,000,000

READ OFFICE: HONG KONG.

BOARD OF DIRECTORS:-

Bon. Mr. 0. 0. 8. Mackin, Chairman,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1853.

head office: LONDOŇ,".

THE HO HONG BANK, LTD.

THE

CINA MAIL.

MONDAY, JANUARY 4, 1932.

COST OF SPECULATION.

LORD MELCHETT'S HOPE.

Commerce

Finance.

and

Billion Dollars Lost in 1930 By Americans.

Prosperity Within Ten Years.

-- (Established 1917.). HEAD OFFICE:—SINGAPORE. Hong Kong Branch: 13, Queen's Rd. C

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

Reserve Liabilities Paid-up Capital

8,000,000 4,000.000

1,000,000 MRJORMAN ON THE BANK'S POLICY Americano in 1930 amounted to sion on the national crisis at a din-

of Shareholders

Surplus ..............

Pald-up Capital

Reserve Fund

Reserve Liability of

Pro-

prietors......

..£3,000,000 .£4,000,000 £3,000,000

Branchen. Agencies and Correspon dents in the principal cities of the world.

Agencies and Branches:

ALOB 'NTAS

AMRITSAR

J. Plutamer, B.

BANGKOK BATAVIA

BOMBAY

1. F. Warren, Baq.

Oblot Manager.

V. M. Graybarn, Faq.

MANCHES

LONDON

KUCHING

MADRAS

MANILA

MEDAN NEW YORK

PENING (Paking)

PENANG

«SANGDON

SEMARANG NEBENBAN BILANGHAT SINGPORE SITIAWAN BOURABAYA

Deputy Chairman,

"W. H. Dell, Eng.

A. IL Compton, Ha

T. II. . Ahaw, Zag

d. Kiskin, Beg.

5. B. Pearos, Ke..

CALCUTTA CANTON CAWNPORK CEDU COLOMBO DAIREN

*BATOON

DELHI

HAIPHONG

HANDUNG

TANKOW

HÙNG TONG

TAIMING

MATEO

[POI

MUAR {Jobors

KARACHI

MUKDEN

KLANG

TONOKAR (Bhukai) TSINGTAO

NEW YORK

KODR

YOKOHAMA

KUALA KANGSAR

ZAMINOANDA

PRIMING

KUALA LUMPUR

PENASO

Exchange

ANDY

BANGKOK DATAVIA

IMDAY

ONUGUTTA

CANTON

CUB.POO

QUDURO

DAIRRY

POOCHOW

HAIPHONG

HAYNURO

НАУКОМ

HARBIN

HOYOKEW

310|12

T

JOUER

XC68

RULDUN

KUALA LUMPUR

LYONS

MALACCA

MANILA

RANGOON

MAJOON

SAN FRANCISCO

SHANGHAI

SINGAPORE

SOURA BYA

SUNGEI PATANI

TIENTHIN

TORTO

THINGTAO YOKOHAMA

Oversat Acconta opersed in Lonal Currency and Fized Deposits frooved for one your or vheter porinda in Local Currency and Sterling an kamix which will be gyulad on appliestion. Hong Kong, December 7, 191E,

HONG KONG SAVINGS BANK.

The Bocas of the above Back in conducted by the HONG KONG, AND SHANOUAT DANK- JNT/CORPORATION. Ilala may be oktalard an application.

PUR THE NONORONG AND SHANGHAI BANKING CORPORATION,

V. M. GRAYBURN,

Hong Kong, 13th July, 1960.

Chief Manager,

THE BANK OF CANTON, LTD.

Established 1912.

Head Office:-Hong Kong.

Auskueled Capital. (II.E. Currency) $11,900 and Pail-Op Capital. 8, 2000, 200 Bare Fund an

La

FRANCIES:-

1,200,000

Canton, Shaphai. Kankow,Sarahere. Bangkok. New York and Ban Fresco,

LONDON BANKERS (—

The Lord's Dank, Timed.

COEERSPONDENTS

principal'shine of the World.

Podge Exchange and banklag buloss of

very description. Üsaranked,

Bala Depot Tiarne Crucious nizos) a yearly

verstel of inom 6 to D

LOOK POONG SHAN,

Chief Manager.

HARDIN

TIENTSIN TOKYO

General

Foreign

and Banking business transacted.

Current Accounts opened and Fix- ad Deposits received for one year or shorter periods at rates which will bo quoted on applicatios.

J. STUART,

Manngor.

Hong Kong, August 17, 1991.

4

NEDERLANDSCHE HANDEL MAATSCHAPPIJ, N.V.

INETHERLANDS TRADING SOCIETY;

BANKERS.

Estebilabad 1824.

Hong Kong Diloe:-11. Qusen's Rout Contrai.

Authorised Capital Qulider 150,000,000. Paletip Capital Ouilder 20,000,000- Herve Fund. Cuilders $0.015,000-

Hand Office:-AMSTERDAM”. Eastern Head Oos-BATAVIA. Broches :--Bandjarmasin, Bendova Boralmy, Calea Cheribon, Djember, Dicki [starts", The Tingue", "Jiddah, Kobe, Makan Mudas, Palembang, Paka longan, Pang, Bangoon, Rotterdam", Semarang, Shanghai, Singapore, Sors buis Roerakarte (Bolói. Tegal, Tjšating and Weltevreden”,

Thoms offices have Bafe Deposit Beam to Let.

LONDON BANKERS :--- NATIONAL PROVINCIAL BANZ LTD.

Correspondents all over the world. Benking th (as of every description (zanmcted.

Every description of Banking and Exchange business transacted.

TAN ENG HOOL,

Manager

BANQUE DE L'INDOCHINE.

HEAD OFFICE:

95. Boulevard Hanangaan, PARIS.

Capital fully paid up Fra. 120,000,000 Roserves (81.12.1980) Fr. 116,368,454 BRANCHES:

Indo-China. Chips. Other Places Salgon

Canton Battambang

Bangkok Gentho Fort-Bayard Haiphong Hankeou Djibouti Hanoi

Hongkong Shanh-Boa

Noumes Mongtze Peping Papeete Shanghai

Pondicheri Tientain Yunnanfou Singapore

Hue

Nam Định

Pnom-Fanb Quinhon

Tourane

Vinh

Every description of Banking and Exchange Business transacted."

Interest allowed.on Current Accounts and Fixed Deposita according to ar rangements.

Safe Deposit Boxes to let. Travellers' cheques issued.

His Macmillan Evidence.

RAONALISATION INDUSTRY'S CURE.

¿

Effect of Credit on Employment.

at

Lord Melchett foretold a period of unprecedented prosperity within Speculative losses incurred by a decade, whon opening a discus- G$1,215,000,000, has been announced ner of Imperial Industries at the

the Department of the Connaught Rooms. Treasury. The Treasury's figures Wyatt Truscott_presided."

Sir George were based on. a study of income. Lord Melehett said that our own tax returna.

In 1930 individuals in the United of a world crisis. The cause of it national crisis was merely a factor States with an annual income of was that our economic ayatom had G$1,000,000 totalled only 149. In been inadequate to cope with a 1929 there were 518 Americans high, degree of development by with annual incomes of G$1,000,000. scientific skill and management. Indicating the extent of the loss Although the world was richer now

BRITISH MILLIONS.

world's capital, value had been wiped out, on paper, in two years. What we had to do was try to get it back, and invent machinery to prevent the loss recurring.

Many the motives actuating "It is this long period of mis-caused by the prevailing Anancial than ever before, we were suffering the policy the Bank of England chance, of being in a jam, which and economic depression there were from extreme poverty because of during rat years are disclosed seems to have disheartened indus- in the United States in 1880 only this dislocation. The trouble was in the fence of Mr. Montagu try," he went on. Norman, vernor of the Bank myself that that is the fault of come of G$100,000. In 1929 14,701 for dealing with continual progress. "I do not think 6,152 persons with an annual in that we had no real arrangement before theacmillan Committee on finance, except in so far as finance Americans had annual incomes of Sixty or 70 per cent. of the Finance Industry, the minutes dependent on a certain interna- G$100,000. of which ve been issued,

sional position and certain interna- This is first time that Mr. tional liaisons from which it car- not and should not detach itself or Norman bbroken his silence re- garding policy of the Bank. ttempt to detach itself.” In the cou of bis evidence he

Asked by Mr. Bevin if the effect of the return to the Gold Standard Disclo his faith in rationali-n 1925 had been to leave us with a sation fohe salvation of indus-nillion and a half unemployed, or try to achieved by the uni-more, for five years, Mr. Norman, fication anance and industry"; said:

regarding "I do not think that that British investments in Latin Ameri- Disagr that fluctuations of has been the cause, or the sole ca appear In the current issue of the Bankate have any seriour use; I should imagine that a the South American Journal. On internal ct; and

great many other things have con-, the basis of securities recorded in Discound the theory that anributed to it."

either the Stock Exchange Official increase credit would result in | He agreed with Mr. Keynes that' or Supplementary Lists on the last an increasf employment, except cationalisation would not increase day of 1930, the total amount of the reservoirs on December 1, 1981,

umployment until a late date. British capital invested in the, were as under:

over a lajperiod.

A. BONNAUD,

Manager.ed that Mr. Irman's evidence was

5. Queen's Road Centrai, French Bank Building. Hong Kong, 1st November, 1981.

THE NATIONAL CITY BANK

OF NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Surplus and

Undivided Profita..U.S.$226,087,392

Branchen In-

LONDON

ARGENTINE

BELGIUM BRAZIL CHILE Manager.

A STOKKINK,

Hong Kong, la December, 1931.

THE

MEXICO PANAMA

to the present level of unemploy-ca

Investments In Latin America.

Interesting

figures

WATER RETURN.

All the Reservoirs on Island Below Level.

The level and storage of water lo

City and Hill District.

It must, course, be remember- Mr. Keynes: So you look forward eighteen countries of Latin 'Ameri-

given some nths ago (the Comment remaining for some consider-against $1,214,211,868 a year pre Tytam Byewash

Mr. Norman:

1930 1931 16' 8" 10'11"B 23′ 8′′B 23' "B

0' 1"3

is £1,205,306,213 nominal,

Tytam viously and £999,286,565 at the Tytam Intermediate 0173 mittee's rep was issued on July able time to come? 18), and be Britain went off

I would not say close of 1918.

Tytam Tuk the Gold Staard.

that, though, I agree that the bene- Investments in Government bonds Wong Nei Chung Ats to be derived from rationalisa-represent £336,065,978,

Railway Aberdeen Upper ...

Pokfolum tion would not be immediate."

securities 2508,997,193, miscellane Aberdeen Lower

Tworent Tasks

Ways Diora

Mr. Bevin: And would increase oue £315,845,888, banking and ship-|| the progress of unemployment? ` ping £43,497,204.

Mr. Nornian: It is apt to do so temporarily.

3,481 UNDER FOURTEEN.

Child Workers Of London.

70B 12' 3'B 14' 3"E 13' 8"B

16' 9"B 18' 4'3

9* 673

18 38

[Note: B. denules "Below O flow": A. denotes "Above Overfow": L. denotes "Level with Overflow."

Storage in millions and decimais

Tytam

Tytam

of gallons.

Byewash

1.22

1,250.00 1,135.75

14.44

16.17

30.58

37.82

128.04

84.41

Mr. Normaid that during the ycars he hadeen working at the Rank of Engld he had devoted the greater partof his time to two things-the bilation of the said that to increase the 'volume of Replying to Mr. McKenna, hel

1980 1931 what they hajosoused before the affect industry over a long period, European courles which had lost credit by buying securities would

281.12 298,31

1,22 war, and goeration among the but not over

Tytam Intermediate 195.48 105.48 short period.

Tytam Tuk Central Bank Europe. The first!

In London the total number of Wong Nei Chung. Mr. McKenna: It would not children under 14 authorised to be had been in main achieved.Į

Pókfulum operate in three or four weeks, hut employed was on November 1 last Aberdeen Lower The second, many

Aberdeen Upper difficult, had a leas achieved, but employment if you increased the the boys 2,307 were employed in the in the long run you would get more 3,481-3,448 boys, and 33 girls. Of was in procesthereof.

quantity of credit?

******* 1,752,79 -1,846.05 A year or age, he went on.

delivery of newspapers.

Consumption of water in the City the Bank was reed to look closely that you would

Mr. Norman: I am not at all sure

and H District in millions and de- These facts were reported to the eimals, of gallons during the month at the positionf British industry,

a matter of LC.C. Education Committee by a of November, 1981, VENEZUELA with which piously they had course.

sub-committee, who stated You do not think there is any, there had been no adverse affect on Estimated population 448,040: 381,500 practically no est contact. They certain relation between factus- the health or education of the chil Consumption Commercial and Travellers Letters had attempted study of industry tiens in the volume of credit and dren, and there was no need for

Consumption of Credits, Travellers' Cheques, Bills of Exchange and Cable Transfers mainly the hey basic industries auctuations in employment? No. Iraising the existing age of pro- bought and sold.

"Broadly sping," he said, "f Current accounta

CHINA

COLOMBIA

CUBA DOMINICAN REPUBLIC

INDIA

JAPAN

AMERICAN EXPRESS COMPANY. ITALY

INC.

THE BANK OF CHINA.

Head Oce: 65, Broadway, New York.

Capital

Surplus

行銀國 中

Reorganised October 26, 1928, under

special charter of The National Gov-

INTERNATIONAL, EXCHANGE

BANK.

ernment as an

Subscribed Capital

Paid-Up, Capital Reserve Funds

$25,000,000.00

-$24,740,200.00

.$ 8,820,503.82

HEAD OFFICE: SHANGHAL

HONG KONG BRANCH:

4. Queen's Road Central

Owing to our numerous branches in China and large connections in the important commercial centres of the. world, wo are able to extend to our clients special facilities for domestic and foreign bankding and exchanges.

We also handle the Issue of Bonda'

Reserves

..U.S.$6,000,000 .U.S.$1,672,454 _U_S-$1,908,209

BRANCHES

Amelordam Antwerp

делов Glasgow

Ni

Napirs

Asho

S'

ملحونا

Hanstiurg Hatro

Jerusalem 1jda Londos Liverpool Lucerne Lugano

Parla

Bedla

Klimatiza

Interiakoo

Pean Paking-

Bembey

Bo

Braseir

1'alar:00 Not serdan Пот

Buenos Aires

Daleo Calonta

·Dagnos

Stambaul bhaighal Southampton

Colombo

Luxor Miles Constantinople Monte Carl Copenhagen Manila Finburgh Florence Девета

Slagspare

Tientsia

St. Morits

Viets

Slantmus

Milan

Vendor Younhama Zurich

Branches of American Express Com-

and other Public Funds of the Chlo pany in Principal elties of United cao Government bath at home, and States of America and Canada. abroad,

SHOU J. CHEN.

Manager.

Hong Kong, 5th March, 1981

THE YOKOHAMA SPECIE BANK, LIMITED.

Establlabed-1830.--

PERU PHILIPPINE

ISLANDS

PORTO RICO

STRAITS

SETTLEMENTS URUGUAY

ae

and Savings Bank accounts opened believe that tipalvation of indus-am not sure that there is. There hibition. and Fixed Deposits in local and for- try in this cotry lies first of all may or there may not be. eign currencies taken at rates that in the processof rationalisation,

The report also contains the may be ascertained on application to the Bank.

and that is to achieved by the evidence of Sir Ernest Musgrave We are also able to offer our Cus- unity or unificon or marriage of Harvey, Deputy Governor of the tomers the services of the Branches finance and instry. I hope the Bank of England, Sir Henry Stra of the International Banking Cor- Bank of Engla will contribute as 40sch, Sir Otto Niemeyer, and Sir, poration in San Francisco and Spain much as it can that goal."

Josiah Stamp.

Extracts from their statements" are as follows:

Banks and Industry. Sir Orro Niemeyer:

MERSEY TUNNEL,

1

that

Total

1930

1981

296.56* 368.208

per

[from Mainland.

head per day..! Includes 41.80

75.88

22.0

80.9

million gallons

§ Includer

iframe

Mainland.

was

million gallons November, 1980.-Constant Supply throughout the City, Hill & High construction will be opened in the West of Eastern Street where a con- The Mersey tunnel now under with the exception of the districts

Level d

districts during the whole month Autumn of 1982 according to pre- stant street fountain supply Icent estimation. Elaborate equip- operated from November 3 to 30, 1930. ¡ment ja being installed for the safe throughout the City Hill & High November, 1931-Constant Supply ty of the tunnel. Mr. B. H. Col: Level Districts during the whole F. MED. COURTNEY, Asked by d Macmillan if.. Manager, when he raised lowered the Bank

He would quhoun, the resident engineer, month.

Kowlooti rate, he conside the consequences act, subscribe to the criticism that said in the matter of ventilation,

they had to study specially the Kowloon Main to the 'industri position of the Joint stock banks were unwilling to staff, who would be in the tunnel Kowloon Byewash

participate iù industry. In fact, he

and also of The National City Bank

of New York (France), S.A., in Paris and Nica

Hong Kong, June 16, 1981.

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

HEAD OFFICE:-Talpek, Formos. Incorporated by Special Imperial Charter, 1999.

Central Bank In Pormon4. Bank-Notes Imund Average amount :Yah. 45,000,000 BRANCHES AND ADENCIES All classes of Commercial Banking JAPAN:-Toyka, Yokobams, Kobe, Cake, Transactions undertaken.

FORMOSA Gires

Taksa. Terut, Toan, Heilo, Tato.

Amos

·Swatow, Canton. OTHERS:-Ho Kang, Bingapore, Soarabaya, Song Bali, Bombaj, London, New York, Dulon.

Personal investment accounts handled.

The Company offers to intending Travellers the use of its Travellers Cheques" and Letters of Credit and. In addition, the world-wide..services of its thoroughly equipped Travel

Capital (fully paid-up) Yen 100,000,000 | Department, Reserve Fund. Yen 116200,000.

Iffead Office?—YOKOHAMA,

Branches and Agencies at:

Alexandria

Batavia

Beriln Bombay CalcuttaTM

Canton

Changchun

New York

Nagasaki

Nagoya

Nowchwang

Osaka

Paris

Pelping

Dairen (Dalny) Rangoon Fenstien (Mukden) Rio de Janeiro

Ban Francisco

Hamburg Hankin Harbin

Kông

Hon

Semarang Shanghai

Singapore

rabaya,

Bank Re Influence.

country, Mr. Noman said,

1980

1981

28' "B

We have the in view, but the would be more inclined to say that for hours at a stretch, and not aim-shek, La Fui

ply the passengers, who would re- Reservoir

0' T'B main consideran is the Interna- on occasion they have done too

quire only about six minutes to pass Shing. Mus Recep last ten years drcially, so far as tional considelon. Over

the much.

Hon

'7′′BT 2′′ What Lord Macmillan described through. The movement of the air in the tunnel would be affected

Storage in milliona and decimals the internation position is con-35 "a very valuable suggestion" was by blowing fans, each 50 ft. in

of gallons cerned, we have been continuously cntained in Sir Otto's remark that.

1930 1981. under the harro"

might be worth considering The key of the whole tunnel would owloon Byewash

diameter, and by exhaust fans. Kowloon Main

853.38 852.50 Asked how the Bank was a

108.81 whether the revenus authorities be the control room at Georgs's Reservoir

Shet Lal Pul free agent and far it was under should not be asked to set up a com Dock, where every part of the tun-Shing Man Recep

118.70 110.85- the compulsion, n the one hand, mittes of three people, one of them- Aless Ninto. Thinctive. Talehu, Talsas of the legislatie scheme, and, on selves, an accountant, and a bus-sented on electrical panels. Here

Kodung

nel's mechanism would be repro- tion

31.61 15.75 GILINA -Bhanghai, Halow, Foodbe the other, of the nternational poal-ness man, to go through the scales the man, in charge would see at a

*-498.69. 593.21 tion, Mr. Norrussaid:"

of allowances for industrial depre«^

Consumption of water in Kowloon "So far as the legislative post- ciation with an eye to considering glance the state of affairs at every in millions and decimals of gallons

point if the fans and pumps were during the 1980 1831

month of November, 1881. tion: goes we are free agent, but whether they ought not to be

working accurately, how much car Consumption so far as the Intentional position brought up to date."

bon-dioxide there was in the air Estimated population goes we are not all a free agent.

Bank of England's Policy. The whole of the uternational ma Sir Ernest Harvey The main and so on, and by merely pressing, Consumption per The tent Las Coupondente in let the prape chinery is bou together and duty of the Bank of England is to down or stop any operation requir Constant supply in all dist-lets dur

a button he could speed up or slow hand per day 25.3. necessarily works a whole. What conduct its operations in the intering adjustment. The quantity of The reports at the Government Bac

November 1980 and 1931. is called the Gol Standard in the should be free from the control water seeping through fato the tun- teriologist and Analyst show that the

ests of the community as a whole.' coment by which it is bound to- gether.

LONDON BANKERS : Barclays Back, Lid, Lloyds Bank, Ltd.. Milanit Bank. Lud, Westminster Bank, Ltd.

Commercial Caolewa Ehroughout the world.

NAGUBA,

Manager,

E. W. DUGGAN,

Manager.

HONO IONO BRANCH:

6. De Vivex Road Centrs). Hong Kong Deoneming 31, 1993,

41

Total

pon 177,830

185.91 151.54

293,050

nel would be infinitesimal in com- quality of the water is satisfactory, of particular groups and intereste,

Total rainfall recorded by Royal Lord Macmillle went on to ask and free from political pressure. Parison to the great, volume with-

Observatory from January 14, whether the powe for raising or It is not the duty of the Central drawn during construction. Special 95.20; January 1, 1931, 70-84.

precautions would be taken in case lowering the Bak rate was an Bank to enter into ordinary bank- effective instrume for preserving ngibusiness of trade and commerce. of fire.

THE BANK OF EAST ASIA, LTD.the stock of gold

Established 1918-

HEAD OFFICE;

10. Des Voeux Road, Central.

ABONG KONG:

Capital and Surplus

Total Resources

over, H. 8.000,00€.DI A over $80,000,000 Every description of Banking and Exchange business transacted, A

Current and Fixed Deposit Accoun

acles opened for clienta,

ings. Accozot And Safe De

Branches and, Agencies

The Ideal Bank, 16 20

Mr. Norman is effective.

Sir Josiah Stamp: "I think the BRITISH BURMAH PETROLEUM. "Externally," 2rd Macmillan ideal banking system is to pick up. went on, you it achieves ite with all its numerous tentacles all Decline of £11,469 to 8124,935 purpose of arresting the How or over the country, the detalled, re-reported in the past year gold if you raise the Bank Bate. quirements of industry and to mee

the Britis Internally, ow do su conceive that them direct, passing them on mu It operates

more collectively than now quirements on total volume. The

clearing banks should

minor variations, "and", the

bank be affected only by

Bir Henry Strakosch

nited Sta

id was

mp in comm

ALEXANDER INSTITUT

DE BEAUTE

«Phone+25169. Pedder Hallding: Cat Floor) Opposite" Entrance to Hong Kong Hotel