1932-01-15 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Askbreland Capital

-----------------$50,150,000

Issued and Fully Pold-up 20,000,000 Reserve Punda-

Berling

............................. § 8,500,000

.............. 10,000,000

Reserve Liability of Proprietors w0,000,000 HEAD OFFICE: HONG KONG.

DOARD OF DIRECTORA: -

Joo. Mr, C. G. 6. Machin, Chalemen

Hos. Mr. J. J. Paterson. Deputy Chairman,

W. II. Bell, Esq.

A. II. Complex, Eng.

G. Miskin, Esq.

I. P. Paste, E1

AMOT BANGKOR BATAVIA

J. A. Mommer, B.

T. . B. Shaw, Bay.

1. P. Warren,

Chief Manager.

F. M. Grayburn, l'aq.

BRANCHER :-

LUNDOS

LYONA

MALACCA

HOW DAY GALOUTTA

MANILA

MCAN (Jolinexi

MUKDEN

CANTON

oneroo

COLOMBO

DAIBEN FUOCHOW HAIPHONG

HAMBURG

BANKOW

HARBIN

HUNGKEY

ILOILO

POR

JOHORE

KOGS

XOWLION

KUALA LUMPUR

NEW YORK

PEIPING

PENAND

BASOODN

SALOON

SHANITAT

a

KAN PRANCIFCO

SENDAPORK

SOURARYA

SUNDE PATAN!

THENTHIN

TOKYO

TSINUJAO TOKOHAMA

Varroni Accouala opened laboral Curmnez and Fixed Depcalis iwaleed fur and your ur sharter perioda' is focal Currency and Berling so term's which will be gusted on spellentien, Hong Kong, December 7, 1931.

HONG KONG SAVINGS BANK.

The sulmon of the shove Bark is ennetad

by the TONG KONG AND BRANDWAI DANH. iko CORPORATION. Tales may be obtained on application.

FOR TUR HONGKUNG AND RHANGHAI BANKING CORPORATION.

V. M. GRAYBORN,

Chief Manage*,

Hong Kong. 18th July, 1966.

THE BANK OF CANTON, LTD.

Established 1912,

Hend Office-Hong Kong.

Authored Caplis) (11.K. Carmancy) ......$11,000,000 Paid-up Capital €65,000 1,200,000

BRANODES:-

Calon, Bhanghai. Hanko, Sweion, Bangkok, New York nad Bass Fraselsen,

LONDON BANKER

The Lloyd's Bank, Linked, CORRESPONDENTA

In all principal clites of the World.

Foreign Exchange and banking balm of

arcy decription transaniad.

Aals Deposit Boxen (varlızım vizas) at a you?ly

entet of from $8 to $40.

LOOK POONG SHAN,

Chief Manager.

THE BANK OF CHINA.

行銀國中

Reorganised October 21. 1028, under

special charter of Tho National Gov- ernment as an

INTERNATIONAL EXCHANGE

BANK.

Subscribed Capital .$26,000,000.00

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1859.

HEAD OFFICE: LONDON.

Pald-up Capital Reserve Fund

THE

CHINA

MAIL.

THE HO HONG BANK, LTD.

(Established 1917.)

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

Paid-up Capital

Authorised Capital Straits $20,000,000 Issued Capital

8,000,000

1,000.000

Reserve Liabilities

of Shareholdera Surplus

4,000,000

2,637,000

Branches, Agencies and CorraaDON £3,000,000 denta in the principal cities of the .£4,000,000 | world.

Every description of Banking and £3,000,000 Exchange business transacted.

TAN ENG HOOL,

Reserve Liability of Pro-.

prietors

Agencies and Branches:

KUCHINO

MADHIAN

MANILA

ALOB STAR

ANBITHAK

BANUXOK

BATAVIA BOMBAY

DALCUTTA CANTON CAWNPORE CRIMI COLOMBO DALBEN

DELHI HAIPBOSA MAMOURG HANKOW

HARBIN HONG KONG

1301L0

POI

KOHIK

NEDAN

NEW YORK

TERING (Poking)

PENANO

BANGOON

SAIGON

HEMAHANU SKREMDAN SHANGHAI SINGPORK SITIAWAN SOURARAVA

TAIPING

TIENTRIN TOKYD

Foreign Exchange and Banking business transacted.

Manager

BANQUE DE L'INDOCHINE.

HEAD OFFICE:

96, Boulevard Haussmann. PARIS.

Capital fully paid up .Frs. 120,000,000 Reserves (31.12.1930) Frs. 116,568,454

BRANCHES:

KARACHI

TOSORAN (Bhuket)

KLANG

TRISOTAO YOKOHAMA

KUALA BANGBAR

ZAMIKIANDA

KUALA LUMPUR

General

Indo-China. Saigon Battambang Cartha Fort-Bayard Haiphong Hankeou Hano

Hongkong Thanh-Hog Hus

Mangtze Nam-Dinb

Peping Pnom-Touh Quinhoa

Canton

Dangkok

Djibouti

Noumen

Papeste

Shanghai

Pondicheri Yonnanton Singapore

Current Accounts opened and Fix-

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

J. STUART,

Manager. Hong Kong, August 17, 1931.

NEDERLANDSCHE HANDEL MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

ПАНКЕНА,

Estabaked 184

Hong Kong 04:---12, Queva't load Central.

Guilders 150,000,000. ................ Guildera 80,000,000. Older 40,018,mo-

Authorised Captia! Paid-up Capital Reserve Pund

Head Office:-AMSTERDAM". Elora Road OBon:-DATAVIA. Drachen:Bandjormasin, fiandoong", Bombay, Calouste, Charibon, Djezaber, Djok- jakarta", The Hague, fiddah, Kode,

Madan Palembang, Longan, Penang, hango, Bestardaru*, Bearing, Shanghat, Singapore, Boot bala, Boorsharts (Solo), Tegal, TĮilatjap and Weltevradea".

Puka

* There she bare Safe Deposit Boxas to let

LONDON BANKERS:-

KATIONAL PROVINCIAL BANK LTD.

Correspondents all over the world. Dorking Dusi-

A. STOXKINE,

e of every description transacted,

Hong Kong, it Doctober, 1938.

THE

Manager.

Commerce and

Finance

IRON AND STEEL INDUSTRY

1931 IMPORTS EXCEED EXPORTS.

MR. S. BALDWIN'S VIEWS.

FRIDAY, JANUARY 15, 1932.

WATER RETURN.

THE STABILISATION

OF SILVER.

Adverse Report

by

All the Reservoirs on Island Below Level.

Leading American Firm the reservoirs on January 1, 1982,

The level and storage of water in were as under:-

New York, Jan. 4. Attempts to increase and stabi-Tytam

- City and Hill District.

1931

lise silver prices through artificial Tytam Byow 23" "B

Aberdeen Lower

21' 4"B

1832 9' 2"B 23'10"B 26" O'B

1932

811.08

194.08

1.16

1,036.39

79.10 1,042.01

11.05

20.94

18.46 43.68

123.14

-1930

...... 278.89

per

19.0

1981 344.80*

measures cannot assist business re- Tytam Intermediate 0' 3" covery. Handy and Harman de- Tytam Tuk

17' 1" 18" "B clared in their annual report on the Wong Nai Chung

17 8′′B 16B- Pokfutura state of the silver industry as issued Aberdeen Upper-

17' 1"B 10' 4"B here to-day.

10' 8"R Aberdeen Lower ... The low price of silver is not a low; A. denotes "Above Overflow": [Note: B. denotes "Below Over London, December 6. A more hopeful tone pervades the major factor in the world business L. denotes "Lovel with Overflow.") Before the war British exports of industry, not because solid orders depression, the Handy and Harman Storage in millions and decimals iron and steel manufactured goods have increased to any great extent posed artificial measures to restore Tytam

report doclares in condemning pro- exceeded imports by more than two but because inquiries for future silver values. Low silver values, it Tytam Byewash

of 'gallons.

1931 and a half million tons a

212.98 year. business are more numerous. This year imparts of iron and stee!

2.18 Increased home demand is bound is stated, have only slightly impair-Tytam Intermediate manufactured goods will exceed to follow the imposition of an iron od the purchasing power of silver Tytam Tuk exports by approximately 700,000 and steel tariff. Further improve suming countries have been prae- Aberdeen Upper

producing countries while the con- Pokfulum

W Vang Nel Chung tons while British iron and steel ment in the industry, however, in tically unaffected. China. Other Places mills are operating at only 40 per the opinion of most manufacturers,

cent. capacity.

must await improved world condi- man contend, has caused govern This situation, Handy and Har That is why leaders of the in- tions.

Total While the depreciation of menta to maintain an attitude of and Hill District in millions and de- 1,487.04 1,613.53 dustry claim that iron and steel sterling has reduced the price of

Consumption of water in the City imports should be among the first British products abroad it has not restoring silver prices through arti- of December, 1931.

indifference towards proposals for cimats of gallons during the month to incur a prohibitive duty when increased the purchasing power of the Government'a general tariff

ficial measures. is Coreign countries.

The report says Consumption worked out.

Maldistribution of Credit. that an agreement upon any parti- Estimated population 448,900 381,750 Britain's iron and steel capacity: One leader of the iron and steel to achieve and likely to be of tem-

cular silver price would be difficult Consumption production is 12,000,000 tons per industry, interviewed by the United

head per day: Now British mills are Preas, sald that purchasing power in the price of silver must depend,

20.1 operating at the rate of 5,000,000 would not be increased until the according to the Handy and Har throughout the City, Hill & High

porary benefit only.

Includes Improvement from Mainland.

06.14 million gallons Interest allowed on Current Accounts Imports are coming in at the rate was corrected, preferably through basic economic conditions through West of Eastern Strast where & con- December, 1930. Constant Supply Iron and steel present maldistribution of credit and Fixed Deposits according to arof 2,750,000 tons annually.

man report, upon betterment of Level districts during the whole month rangements,

the convocation of an international out the world.

with the exception of the districts "Give us a permanent tariff," say currency conference. the leaders of the iron and steal

stant He blamed the United States and ed as leaders in the American silver!

Handy and Harman are recognis, operated from December 1 to 31, 1930. street fountain supply WAS industry, "and these foreign iron France for the present maldistriby-industry and world-famed white throughout the City Hill & High and steal imports will be reduced tion of credit and said that, unless metal experts are members of their month.

December, 1031-Constant Supply by 50 per cent Then we can in-the United States and France enter

Level Districta crease our production to probably such a conference and agree to lend organisation.-United Press. 6,500,000 tons per annum, reduce their gold to countries needing it, our costs of production and com- they run the risk of seeing their

TEXTILE MACHINERY. pete on a better basis in foreign immense stocks of gold become markets."

worthless through the adoption by British Holding Companies To Be Lord Daryngton estimates that, other countries of some other stan-

Formed. if this year's imports of iron and dard of value. steel goods that could have been made in Britain could have kept out, the country would saved almost £17,000,000 110,000 workers could have given employment.

Tourane Tientain

Vinh

Every description of Banking and

Exchange Business transacted.

Safe Deposit Boxes to let. Travellers' cheques issued.

A. BONNAUD,

Manager.

6, Queen's Road Central, French Bank Building. Hong Kong, Ist November, 1981.

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Surplus, and

Undivided Profits ..U.S.$228,037,892

Branches in

ARGENTINE BELGIUM

BRAZIL

CHILE

CHINA COLOMBIA CUBA

LONDON

PERU

ISLANDS

MEXICO

PANAMA

PHILIPPINE

PORTO RICO

DOMINICAN REPUBLIC INDIA

STRAITS

JAPAN

UDA

AMERICAN EXPRESS COMPANY. ITALY

INC.

Head Oflice-66, Broadway, New York.

Capital

Surplos

Reserves

.U.S.$0,000,000 .U.S.$1,572,454 ..U.S.$1,908,209

BRANCHES

Paid-Up Capital..

.$24,710,200.00

Autworg

Reserve Funds

-$ 3,820,508.82

Atheti

Glasgow flavan

Beale

Berlin

HEAD OFFICE: SHANGHAI.

Biarrit

Bombay

Itrenten

HONG KONG BRANCH:

Virussala

Hamburg HAVED Intierlakon Jerusalers Ελλα Indon Ikan Air Laterpol Cairo

Nied Дінцівки Prasum Paris Patang Peking PAIDO Roterdam Hola

Calortia Candies Colombo

Stambol Shangkal Bouibampton Singapore Ni. Moritz

*Fental

VLOGGA

Voulod

4. Queen's Road Central.

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

We also bandle the issue of Bonds and other Public Funds of the Chio ere Government both at home and abroad,

SHOU J. CHEN,

Manager. Hong Kong, 5th March, 1981.

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880. Capital (fully paid-up) Yan 100,000,000 Beserve Fund

..Yen 116,200,000

Head Offices YOKOHAMA.. ...Branches and Ageneles at:

Alexandria

Batavia Berlin

Bombay Caloitta

chun

Dairen (Dalny)

1. Nagasak!

Nagoya Newebwang

New York Oinks Paris

Rangoon

Pelping

Fongtien (Mulden) Rio de Janeiro

Hamburg

Hoà Kong

Honol

"Inberent allowed

Deposits: recefred. tatas to be obta

San Francisco

Seattle Semarang

Bhangehal

Amsterdam Ciego

LADE Lugsso LUCOE Marcillos Continople Moute Carlo

Copenhagen Edinburgh Florence Geners

Marila Musich Moulsavz

Man

Tokohama Zuric Branches of American Express Com- pany in Principal cities of United States of America and Canada.

Personal handled

investment accounts

annum.

tons per annum.

been

ап

Kowloon.

Kowloon Main .... Kowloon Byewash Shek Lai Reservoir

during the

whole

1931 1932 2'10"B L

Pul

Shing Man Recep-

tion

43′10′′B

1' 1"B

2'10"B

1' 8"B ' 1"B Storage in millions and decimais of gallons.

1031

1232

323.55

362,50

51.85

11167

104.78

Shing

Mun Recep-

tion

20.75

20.18

Total

463.98

529.59

142.08

por

Consumption

head per day ...

28.0 The reports of the Government Bac-

15.0

Sir William Larke, director of Six textile machinery companies been the National Federation of Iron and have recently been have Steel Manufacturers, expressed his private companies. They are: Aaa Kowloon Main

registered as and opinion as follows:-

Lees & Co, Ltd.; Brooks & Doxey, Kowloon Byawash "A world tending toward bank-Ltd.; Dobson & Barlow, Ltd.; Shek Lai Pui ruptcy amidst plenty can only re- Howard & Bullough, Ltd.: John

Reservoir Signs of Revival.

present bankruptcy in brains and Hetherington & Sons, Ltd. and The industry has shown

some courage.”

Platt Brothers & Co., Ltd. signs of revival since the abandon- Steel Cartel Favoured.

The objects in each case are to ment of the gold standard, but In some sections of the industry, enter into leaders of the industry do not feel the formation of an

agreement with Consumption of water in Kowloon international Textile Machinery Makers, Ltd., for during the month of December, 1931. in millions and decimais of, gallons that this improvement can be main-steel cartel, regulating production, the purchase of certain assets tained unless the home market is distribution and prices, is favoured belonging to

1930 1931 SETTLEMENTS permanently sheltered by a tariff. Even

that company, to Consuinption Mr. Stanley Baldwin, manufacture and deal in plant and Estimated population 178,300 294,200

138.38 URUGUAY

On October 24 iron and steel former Prime Minister and Mr. machinery for the textile industries, VENEZUELA manufacturing concerns reporting Ramsay Macdonald's right hand etc.

to the Ministry of Labour showed man in the present National Gov. Textile Machinery Makers, Ltd, terlologist and Analyst show that the Commercial and Travellers' Letters a total increase in the number of ernment, who has had considerable says of Credita, Travellers' Cheques, Bills of Exchange and Cable Transfers employees over the previous month experience in the steel industry, registered as a public company in Observatory from January I to De- Financial News, was quality of the water is satisfactory. bought and sold. Current accounts of 3,200. Nevertheless, imports of sees this solution to the industry's September last, to acquire the cember 31, 1930, 96.00; January 1 to Total rainfall recorded by Royal and Savings Bank accounts opened iron and steel during October were difficulties. and Fixed Deposits in local and for higher than at any time since De-

original six companies of the same December 31, 1931, 80.39. cign currencies taken at rates that

"In the steel trade," he stated in names as those may be ascertained on application to cember, 1980, while exports

now registered. wereja recent speech, "I feel confident, Under the scheme each of the the Bank

less than in September. We are also able to offer our Can

before long, and especially when original companies has During October the number of we have tariffs in this country, we operating and working assets to sold its tomers the services of the Branches binst furnaces in operation increas- shall move of the International Banking Cor-ed by four to 66. The improvement situation when the steel trade will preserve the goodwills of the busi-

on to this kind of Textile poration in San Francisco and Spain

Machinery. Makers. To and also of The National City Bank was moatly in the lighter sections be internationally controlled and, nesses, the company of New York (France), S.A., In Paris of the industry. There were very the world will be parcelled out and through the six new companies, In will operate few signs of improvement in F. McD. COTNEY,

the the markets will be made secure." each case the original companies heavier sections,

-United Press.

changed their names by adding the Hong Kang, June 16, 1981.

word "Holdinga."

and Nice.

Manager.

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

HEAD OFFICE:-Taipeh, Formosa. Incorporated by Special Imperial Charter, 1899,

Karenko,

IRON AND STEEL.

Increase In British Furnaces Operating.

The blast furnaces in operation

JAPAN'S FOREIGN TRADE. Exports Drop Slightly More Than Imports In 1931.

The foreign trade

of

in Great Britain at the end of Nov- through Kobe; Yokohamu and ember

the

M. DOUMERGUE JOINS SUEZ COMPANY.

Paris, Jan. 5.

STANDARD TIMES. Sunrise and Sunset in Colony.

Sunrise and Sunset in Hong Kong for January, 1932, Standard time of the 120th Meridian, East of Greenwich, are as follows:-

Sunrise Sunset

Date January

B.J

Dim.

15

M. Gaston Doumergue, former Japan president of the French Republic,

7.06. 6.00

16

7.06

6.00

· 17

7.06

6.01

11 has been named to the Council of

18

7.06

6.02

19

7.05

6.02

22

20

7.05

.6.08

21

7.05

6.04

22

*

7.05

6.04

28

7.05

6.05

7.05

6.06

7.05

6.06

7.04

6.07

7.04

6.08

29

7.04

6.09

7.04 6.10

30

7.04

6.10

7.08

6.11

numbered 70, compared other principal ports. during the Administration of the Suez Canal! Central Bank la Formosa.

with 66 at the end of October and year 1981-ending, December 25-in place of M. Miriel, deceased.-- Dank-Notes Iscued Average amouesnon. 46,000,000 92 at the end of November, 1980, resulted in an adverse balance of Havas.

BRANCHES AND AGENCIES: All classes of Commercial Banking JAPAN-Toyko, Yokohama, Kobe, Caka,

the National Federation of Iron & Y.79,295,000, with Y.1,124,456,000; Transactions undertaken.

FORMOSA:-Oleo, Zag,

Kung, Steel Manufacturers reports. The exports and Y.1.208.751,000, im- PANAMA CORPORATION LTD. Makong, Kanto, Balaabika, Talche, Tainas, production of pig-iron amounted to ports, a total of Y.2,828,207,000, the Tako, Tamad, Tom, Hallo, Taito. QUINA-Shaoghal, Hankow, Amay,

BESION, CRaton,

Foocho, 296,400 tons, compared with 284,200) “Japan Chronicle" reports. Com- OTHERS--Hong Kong, Hingapore, Boorabeys, tons in October and 884,100 tona pared with the corresponding period announces that it has made the The Panama Corporation, Ltd., Semarang Dalaria, Bowtag. Jondon, New in November, 1980. York, Daten.

The produc- of last year, this shows a decrease discovery of a new gold vein, said tion includes: 68,000 tons of of 7.320.275,000 (22.5 per cent.) to be worth $16,000,000, on its mine hematite, 128,500 tons of basic, in exports and Y.326,686,000 (21.5 at Veraguas, Panama. This, it is 89,300 tons of foundry, and 11,000 per cent.) in imports, with an im- thought, will prove one of the tons of forge pig-iron... provement of Y.861,000 (4.5 per richest veins in the world.

The November output of steel cent.) in the adverse balance. ingots and castings amounted to The excess of imports over ex- 459,200 tons, compared with ports in Korea is put at Y. 89,064, 457,400 tons In October and 438,800 000 and that in Formosa at tons in November, 1980.

The Company offers to intending Travellars the use of its "Travellers Choquce" and Letters of Credit and, in addition, the world-wide services Department, of its thoroughly equipped Travel

E. W. DUGGAN,

Manager.

LONDON BANKERS: Barclays Back, Ltd.. Lloyds Bank, I., Miland Bank, LA, Wolminuter Dank, Lald: The Bank has Dorrespondente in all the principa! Commardial Dentres throughout the world,

NAGURA,

Maunger,

HONG KONG HRANCH:

, De Vaur, Bood Central. Hong Kons, December 4, 1031.

THE BANK OF EAST

Established 1918, HEAD OFFICE: :

ASIA, LTD.

10, Des Voster Road, Central. TONG CONG

Capital and Surplus

Total Resources

#over HS 8,600,000:00 over H$30,000,000.00

67 Every description of Banking, and Exchange business transacted sto

Current and Fixed Depoalt Accounts in local and for-

currencies opened for clients. Both MEN Bavings Account and Safe Denqult Boxes. Branches and Agencies all over the world.

KAN TONG PO,

Chief Manager,

UNCLAIMED TELEGRAMS. The following unclaimed tale grams are lying at the EE. Tele- graph Co.'s office.

Hotel, from

Brandon, from Sydney. Die, from Bangkok Sub. Strijevsky, Peninsula from London Po

Trots 252, Winchal Road, Sydney Po

ACC. CLARKE,

Manager. Hong Kong, January 14, 1982.

Y. 11,438,000, so that the aggregate balance in favour of imports will be Y. 129.797,000, an improvéstent of 1. 64,201,000 (29 per cent,) over the previous year.

CARR AND CO,

GILLETTE CAPITAL CUT

What seems to be an appropriate able for dividends. operation for a safety razor con-

No apecific promise as to cern is announced by the Gillette dividend payments is made; but the Safety Razor Company of America, Inference is that with the removal which is shaving off a large part of the obsolescence charge against of the balance-sheet value of its profit, the question of dividends no par value Praference and Com-will be given favourable considera- Carr and Co., the biscuit and mon shares in order to reduce tion within a reasonable period.. confectionery manufacturers, who future charges against profit for With obsolescance excluded, the celebrated their centenary last obsolescence, earnings for the nine months world year, report an increase in profits A meeting was called for Decem- have been substantially over $2 per from 288,912 to 454,482 for the ber fito, authorias, the reduction share,

Past twelve months. The total in the stated value of these stocks At December 31 Laat the 810,000 Ordinary dividend in raised from to 371⁄2 per share. Out of the $5 dividend Preference shares were p.c. to 1p.c., including 2% existing surplus and, the additional entereds in the balance sheet at pic. already

an Invest surplus thus created write-offs will $3,151,87 an average of just over ment reserve is inaugurated with be made,

ther monthly $10 per abare-while the 2,018,769 Heh: Commanaharta, ihad in raise of of $81,695,147,(or slightly more than armup As a result of the fun would be Ize

|"" transfer bE S448)

Las form

subjset:

Ings of the com

by, about 817,000 OPO