1932-01-18 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

And Capital $50,00,000 feed and Fully Paid-up 30.300.000 Reserve Funds!-

Berlings Bulvar

£1,500,000 $19,000,000

Reserve lablāt of Propriakoen $10,000.000 HEAD OFFICE: HONG KONG,

BOARD OF DIRECTORS;-

Hon. Mr. . . 8. Mackia. Chairman

Hoa Me. J. J. Paterson. Depely Chalasa.

W. H. Bell, Esq.

4. H. Complen, Esq.

a. Miskin, Esq.

T. E. Pearse, Eeg.

HOT

BANOKOK

BATAVIA

BOHDAY

OLLCUTTA

CANTON

CHEFOO

COLOMBO

DAREN

POOCHOW

HAIPHONO

FLAYBURG

ПАНКОВ

НАДЫМ

ПОКОКЕК

UNILO

fox

JOHOBE

KOBE

KOWLOON

J. A. Plummer, Eag.

T. H. B. Shaw, Eng.

J. T. Warmes, Esq.

Chief Manager.

3. X. Orayburn, Esq.

BRANCITYA:-

KUALA LUMPUR

LONDON

LIONA

MALACCA

MANILA

MUAR (Jobpr

MUKDEN

NEW YORK

PEIPING

PENANG

KANOGON

HALOOS

SAN FRANCISCO

KUJANORAL

SINGAPORE

NOURABYA

SUNOKI PATANI

TIENTRIN

TOKYO

THINOTAO YOKOHAMA

Qual some opened in Local Currency and Find Deposite received for one year or shoctor perinde In Lool Currency and Beding on terms which will be quoted on application. Hong Kong. Ducumber 7, 1981.

HONG KONG SAVINGS BANK,

The Busineas of the above fack

conducted

by the HONG KONG AND SUANQUAI BANK- INO COMPORATION.

on application.

Tiles may be abiained

FOR THE HONGKONG AND SHANDBAL BANKING CORPORATION,

V. M. ORAYBURN,

Chlet Manager.

Hong Kong, 10th July, Iden.

THE BANK OF CANTON, LTD.

Established 1912.

Read Office Hong Kong. Authorised Capital (R.K. Currenty)...11.000.000 Paid-Up Capital 8,000,000 Bar Fund ...

4. 1,100,000

BRANCITES)—

Canton, Shanghai, Hankow, Blow, Esbgkok, New York and Ben Fesselman,

TORDON BANKERS-

"The Lloyd's Bank, Limited, COBRESPONDENTS

In nil primeipel olties at the "World.

Farm Exchange and banking basic di

www duscriptis anot

Bale Dopeall Bores (various size) el a poorly

rental of from 35 to $40.

LOOK POONG SHAN,

Chief Manager.

行銀國中

Reorganised October 26, 1928, under

special charter of The National Gov-

INTERNATIONAL EXCHANGE

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

THE

THE HO HONG BANK, LTD.

(Established 1917.)

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

Authorized Capital Strata $20,000,000 fasued Capital Paid-up Capital

Incorporated by Royal Charter, 1853. Reserve

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve Fund

Reserve Liability of Pro-

prietors

Liabilities

of Shareholders. Surplus

8,000,000

4,000,000

n

4,000,000 2,687,000

Branches, Agencies and Correspon- 28,000,000 dents in the principal cities of the .£4,000,000 | world.

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

TAN ENG HOOL

Agencies and Branches:

ALOR STAR

AMRITSAR

DANOKOK ΚΑΤΑΥΣΑ

HONDAY

CALCUTTA CANTON CAWNPORE CEBU

KUOILING

MADRAS

MANILA

MEDAN

NEW YORK

PEPING (Pling)

PENANO

BANGOON

COLOMBO DAMEN

SALOON

DELHI

HAIPILONG HAMDURO

HANKOW

ITARBIN HONG KON

ILOILO

KARKONI

KLANG

КОЛЕ

SEMARANG SEDEMDAN BUANGHAI МЕХОГРОВИ SITJAWAN SOURABAYA

TAIPING

TIENTSIN TOKYO

TONOKAI (Dhaka:1

TSINGTAO

YOKOHAMA ZAMBOANGA

ROALA LUMPUR

Foreign Exchange

and General

KUALA KANGSAR

Banking business transacted,

Current Accounts opened and Fix- ed Deposits received for one year or shorter periods at rates which will be quoted on application.

J. STUART,

Manager. Hong Kong, August 17, 1931.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADINO 800(ETT)

DANKERS.

Established 184.

Hong Song Oil, Queen's Road Central.

Authorised Capital........... Üçíldars 150,000,000. Paid-up Capital Culler 8,050,000- Reserve Poed. Quikiom +0,015,000

Head Office:-AMSTERDAM, Eastern Boad D50:-BATAVIA. Branched-Bacdjarmasin, andong" Bombay,

Calutie, Chartbon, Djembar, Djok Jakarta", The Lagus, Jiddah, Kobe, Maksosszą Hades, Pilambang. Paks Looma, Perang, Bangoon, Botterdam", Semarang, Shanghai, Bingspore, Boers. bala, Boorakarta (Solo), Tegal, Tilatjap and Weltevreden

• These boos have Safo Depoel: Boxes to Lat.

LONDON BANKERS:-

NATIONAL PROVINCIAL BANK LTD,

Manager

BANQUE DE L'INDOCHINE.

HEAD OFFICE:

96, Boulevard HaussmaZLE, PARIS.

Henci

Thank-Bos Hus Nam-Dinh

Prom-Penb

Quinhon Tourane Vinh

Noumoa

Papeete

Pondichert

CHINA MAIL,

Commerce and Finance

MR. GOODENOUGH SPEAKS

ON

CURRENCY

SOUND AND INFORMATIVE

ADDRESS.

Danger of Inflation.

Currency was the subject of aletitution. characteristically sound and in- formative address delivered to the

Danger of Inflation.

4

MONDAY, JANUARY 18, 1932.

COAL ORDERS LOST

TO BRITAIN.

Serious Effect of French Surtax,

SHIPLOADS REFUSED.

I learn from the Mining Associa tion that many orders have been lost in France, recently for both; domestic and Industrial coal. French merchants have refused to consider buying domestic coal after

Another firm which has accept-

ROUEN'S BIG BLAZE

150,000 Gallons of Benzine.

ON FIRE.

Gigantic flames attaining u height of nearly 500 feet, sud- denly burst from an oil tank steamer in the river port of Rouen, when 150,000 gallons of benzine took fire.

The basin in which the steamer

hearing the new prices under the 15 per cent, surtax, says the Industrial! Correspondent of the Daily Tele-Wan lying was rapidly shut in order to prevent the burning masses of graph.

A firm of French Importers, which benzine from flowing into the har Under a managed currency, Mr. has done an extensive business with bour where they might have Institute of Actuaries by Mr. F. C. Goodenough contended, there would South Wales coal, reports the fol- brought about an appalling catsu- Capital fully paid up Fra. 120,000,000 Goodenough, the chairman of Bar- always be a greater tendency for lowing typical experiences since the

trophe, Reserves (81.12.1930) Fr. 116,508,454 clays Bank. He recalled that when inflation

the Bank of England and Treasury rency were directly linked with gold:

creep in than if the cur-surtax came into operation:

One man was trapped in the BRANCHES:

Two shiploads of industrial coal the flames, but the exact number burning steamer and parished in note issues were amalgamated in That proposition will not be serious-

were refused by two different Indo-China. China, Other Places 1928 the total fiduciary issue was ly contested. Salgon

What, it may be ask- clients, and the whole consign of victims is not yet ascertained. fixed at £260,000,000, beyond which ed, is infation? Canton Battambang

The real test, Mr. figure all notes were required to be Goodenough answered, lies in our

ment had to be put into stock. Bangkok Cantho Fort-Bayard

One order was lost on the

NAMED AFTER A PONY. covered pound for pound by gold. ability to maintain Haiphong Banksou Djibouti

the relative

ground that the price was 157 aj The maximum non-covered fasue has value of the currency in terms of Hongkong

ton too since been raised to £275,000,000 as world commodity prices, since it is,

high, The surtax ak-

Daughter Made It Legal. counted for 16.40f a ton. Mongtze

temporary measure. In Mr.impossible for this country to hold Peping

Goodenough's opinion the limit was its position as a financial or indus-

A polo pony and an ugly baby ed three shiploads of large coal is are responsible. for one fixed prematurely and subsequently trial centre while the internal price Shangbai

of the unable to dispose of any of it. Tientsin

proved too high for the real needs level surpasses the external level. South Wales

most unusual names ever register- Yunnanfou Singapore

of the people.

exporter Baided at Somerset House, The inadvisability of allowing the that developments of The limit was fixed in accordance issue, and control of the currency were making business with France ate name by which the Hon. Daisy this kind The name is Yoakyl, the intim- with the findings of the Cunliffe to be left in the hands of the State extraordinarily difficult. The can- Consuelo Yoskyl Pearson is known Committee of 1918, which recom--for regulation would lead inevit-cellation of orders affected produc-to her friends. Interest allowed on Current Accounts and Fixed Deposits according to armended that the actual maximum ably to nationalisation-is too obvi- tion immediately.

Her engagement fiduciary circulation in any year cus to be emphasised.

to the Hon. Brampton Gurdon has How serious this is shown by the revived a controversy as to ite should become the legal maximum of The difficulties of returning to the fact that in the week ending Decem-origin. the year following. On the pre-war Gold Standard system are ber 5 Britain's coal output fell by other hand,

Viscount Cowdray, the father of the Macmillan chiefly due to the present maldia-112,500 tons-from 4,677,900 to Miss Pearson, explained the ori- Committee, whose report was tribution of the world's gold stocks, 4,465,400 tons. In the same period gin of the name. published in July last,

Originally it Bug- to the unwillingness of all Gold the number of workers increased by was given to a beautiful polo pony gested a maximum circulation of Standard countries to allow gold 900-from 836,400 to 836,700.

which was born on a hill in Cam- £400,000,000 and a minimum gold movements to exert their normal in-1 reserve of £75,000,000; to be utilised fuence on the credit structure, and stated there

Reuter's cables, only yesterday, berland known as Yoskel Hill in maintaining the gold parity of to trade barriers, which prevent not surtax being lifted.

was talk about the Eventually the pony found its way

the foreign exchanges. sterling through the adjustment of only the

At the same into the stable of Viscount Cow- freer circulation of the time, well-informed circles held that dray, where as he was considered world's goods but the greater nothing would come out of these the most beautiful and the best Under the Macmillan plan the stabilisation of world prices.

The Our talks. note circulation would be regulated own problem is therefore part of a said to be yet under consideration. to the new home the pony's name matter, however, is of the polo string, but on its way by the Bank of England, so as to greater international problem, in the So there is still hope. correspond with the requirements of solution of which all the great coun

was changed Yoskyl. the community, and the note issue tries would have to co-operate. Time would therefore be a managed cur- and experience will show whether rency controlled by the central in-such co-operation is practicable.

Every description of Banking and Exchange Business transacted.

rangements.

Safe Deposit Boxes to let Travellers' cheques issued.

I

A. BONNAUD;

Manager.

5, Queen's Road Central, 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 Prosta..U.S.$226,097,802

ARGENTINE

Correspondents all over the world. Banking But BELGIUM nas at overy doscription tracted.

4. STOKKINE,

Manager.

Hong Kong, 34 December, 1993.

THE AMERICAN EXPRESS COMPANY: INC.

U.S.$6,000,000 U.S.$1,572,454 U.S.$1,908.200

THE BANK OF CHINA.

Head Office:65, Broadway, New York,

Capital

crnment as an

Surplus

Всветуев

BANK.

BRANCHES:--

Subscribed Capital

.$25,000,000,00

Pald-Up Capita!

Reserve Fonds

.$24,710,200.00

Athena $ 3,820,503.82

Amlordem Graz Antwerp

Nico

Kapla

Piraeu

Boala

Berlin

Farla Pen

Harrite

Bombay

Aromen Deusasta Bus Aires Outro

Peking Palabo Rotterdam Rease

Hlabou

·

Oulouste Cannes

Colombo

HEAD OFFICE: SHANGHAL

HONG KONG BRANCH: ' 1 Queen's Road Central,

Owing to our numerous branches in China and large connections lo the Important commercial centres of the work, we are able to extend to oar clients special facilities for domestic and foreign banking and exchanges.

We also handle the lesue of Bonds

Blangow Haven Harburg Havre Interfakan Jarusalem Lido London Liverpool Lucerne Lugane Jucar Anselle Constantinopla Monte Carla

Copenhagen Manila

Albergh Florence Genara

Muninh Haniroux Milan

Shanghai

Soniampino

Bingapore

Fie. Moeite

Tantsin

Vienna

Vealco

Yokoham Zurich

Branches of American Express Com-

BRAZIL

CHILE

CHINA WITHIN A

COLOMBIA

Branches in:-

LONDON MEXICO PANAMA PERU

CUBA DOMINICAN REPUBLIC

JAPAN

PHILIPPINE

ISLANDS

PORTO RICO

STRAITS

SETTLEMENTS

URUGUAY

VENEZUELA

S. SMITH AND SONS YOKOHAMA 'MOTOR ACCESSORIES' |

A New Clock

Industry.

WILB held

BANK'S HEAVY LOSSES.

S.

ALLSOPP & SONS.

Effect of Beer Duties.

www

from Yoskel to

Then Miss Pearson was born and, to quate her father, "She was one of the ugliest babies he had ever seen." He thought of his favourite pony, and, making the comparison, nicknamed her Yoskyl. She grew up to love the name, and finally decided to add it to her baptismal names by register-

Gold Embargo in Japan The forty-third annual general ing it.

Hits Institution Hard.

Tokyo, Jan. 7.

meeting of Samuel Allsopp and Sons, Ltd., was held at Winchester House, E.C.

Sir William B. Beat, C.V.O. (the

CROSSE AND BLACKWELL.

The 17th ordinary general meet Commercial and Travellers' Letters ing of S. Smith and Sons (Motor of Credits, Travellers' Cheques,. Bills Accessories} Ltd. of Exchange and Cable Transfers Cricklewood Works, London, N.W. its exchange accounts in the United sinking. fund, repairs, depreciation, son, the Far Eastern representative at Yokohama Specle Bank in meeting the year, after deduction of Interest, has telegraphed Mr. Douglas Wil- bought and sold. Current accounta and Savings Bank accounts opened and Fixed Deposits in local and for- in the absence of Mr. Walter Hen- the attention of financial authori-pared with £145,823 in the preced firm has been granted a warrant of Mr. C. P. Newman, who presided States continued to-day to receive &c., amounted to £174,111, as com of the company, stating that the eign currencies taken at rates that derson-Cleland, M.C... (the chair ties here. may be ascertained on application to man), said that the profit for the the bank cannot ship gold specie to dividend of 9 per cent. on the appointment, as provision and pre-

Because of the gold banjing year. They proposed to pay a We are also able to offer our Cus-year stood at £53,281, as against America and as a result a heavy Ordinary shares, as against 81⁄2 per Prince of Wales.

serve manufacturer to H.R.H. the tomers the services of the Branches £96,546 last year. of the International Banking Cer- under review there had been a de- difference of opinion as to whether £72,167.

During the year loss is being faced, There is a cent. last year, and to carry forward] poration in San Francisco and Spain crease in, the number of motor-cars this loss should be compensated by was practically the same as in the The profit on trading and also of The National City Bank

or the Bank of previous year, while interest and) and Nice,

The problems faced by the chairman), said that the profits for Messrs. Crosse and Blackwell, Ltd., Mr. J. C. Goff, chairman of

the Bank,

MUSIC.

GRIEG'S LYRICS.

of New York (France), S.A., in Paris manufactured in Britain, notably the Government

the medium and higher priced types. Japan.

dividends had increased by £20,288.) F. MED. COURTNEY, The company was dependent on the At a meeting at the Ministry of The balance sheet seemed to him Manager. success of the motor-car industry Finance yesterday, representatives to be a sound and satisfactory docu- Hong Kong, June 16, 1931.

for the sale of its accessories. The of the Finance Office announced the ment. buiness of the subsidiary companies decision of their Deposit Section With regard to the trade as a had been affected similarly to that to sell Japanese bonds in foreign whole, he would point out that the THE BANK OF TAIWAN, LTD. of the parent company by the gen-currency In the amount of 60,000,-barrelage upon which duty was

(TAIWAN GINKO.)

eral falling off in the motor trade, 000 yen. These issues are now held charged had gone down in 1981, by HEAD OFFICE-Taipeh, Formosatory profits.

but all of them had made satisfac- by the deposit section of the Yoko-comparison with 1914, by about 50 During the year hama Specie Bank and if the sale per cent. The reason for that was Incorporated by Special Imperial

they had successfully produced materialisca, it is held, it will not undoubtedly the Charter, 1899.

several new lines of goods, includ be necessary for the bank to ship, which had been imposed in the form BEETHOVEN SONATAS.

heavy taxation ing lever clocks, alarm clocks, and further gold abroad. the Smith electric clock.

of beer duty. The net amount of The meeting was attended by the duty received by the Government la - BRANCHES AND AGENCIES: All classes of Commercial Banking JAPAN:-Toyko, Yakshasa, Kobe, Osaka,

Synchronous clocks were not new, and the Yokohama Specie Bank as chairman

Presidents of the Bank of Japan 1981 was close on £70,000,000. No Transactions undertaken.

PORMORA:Girea, Kari, Kiranks, Reale na they had been used for many well as by officials of the Ministry brewery

Mekong, Hanto, Shiachiku, Talcher, Talam years in the United States.

of any considerable Takao, Tamiui, Toan, Stile, Tallo, CHINA Bhanghal,: Haskow, Amoy, Fenchov, Smith electric synchronous clock of Finance.

The

enterprise. had Below. Centon.

A decision has yet to to call the attention of the OTHERS: Hong Kong. Slagtpore, Soarslays Was, they claimed, superior to be reached as to how to compensate shareholders

Semarang, Batavia, Bombay, London, New the American product.

-100 the

unfor- York, Paires.

for Josses suffered In exchange tunate conditions of their fluctuations since the reimposition trade, and he was compelled to en- built by the company, who were of the gold ban. The Government, dorse the views generally expressed specialising both in clock-werk me chanlem and small electric devices however, continues to insist that on this subject. The crisis arose The demand for these clocks since the Bank of Japan should carry the when the new duty of 31s per stan- Commandal Castros seroughout a princips their being placed on the market at losses incurred by the Yokohama dard barrel, which equalled more

and other Public Funds of the Chin-pany In Principal cities of United

050

Government beth at home and States of America and Canada.

abroad.

SHOU J. CHEN,

Manager. Hong Kong, 5th March, 1981.

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880.

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

Yen 116,200,000

Head Office:YOKOHAMA.

Branches and Agencies at:

Alexandria

Batavia

Berlin Bombay

Calcutta

Canton

(Dalny)

Hambarg Hinkow

Harble

molalu

New York

Nagneski

Nagoya

Newchwang

Onaka

Paris Peiplag TRDROON

(Mukden) Rio de Janeiro

San Francisco

Personal handled.

....

investment accounts

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

E. W. DUGGAN,

Central Bank in Formoss.

Bank Notes inued Averags amoun) Tea, 45,000,000

LONDON BANKERS:

Barclays Bank, Lid, Lloyds Bank, Lid.,

Midland Bank, Ltd., Westminaler Bank, Idd.

Centres world.

J

K. NAGURA,..

..

Manager.

HONG KONG BRANCH:

8,. De Ve Boad Central. Hong Kong, December 4, 1981.

Manager..

It was

the beginning of 'October had ex Specie Bank-United Press.

ceeded their, expectation, and their Programme for production had, in consequence, to be increased to 4,000 a week for the month of Janu-

(Ricordi Edit.)

failed MOZART

SUCCESSFUL TRIAL RUN.

than 1d per pint, was put on in September last, The present gon-f eral outcry was raised not only against the additional tax of 1d per

New Oil-Electric Railcar..

SONATAS

(Ricordi Edit.)

JEAN MARAT GRADED PIECES.

DILLER QUAIL

pint, but against the enormous in TEACHING SERIES. crease in the duty for 78 9d per bar-

THE BANK OF EAST ASIA, LTD. tambor its products for Eastern Railway Co. at Newcastle who were paying that duty consider- As to the outlook, the company A full trial service was carried rel at the beginning of the war to had well-established business in out by the London and North-25 148 at the present time. Those EARLY ENGLISH

HEAD OFFICII,

Established 1918.

Seattle

10. Des Voeux Road, Central. HONG KONG

Kong

Singapore

Capital and Surplus Total Resources

Bourabaya Bydney

Tientaln

Manila

Tokyo Tsingtan

Interest allowed on Current

counts.

Kai-Yuen Karach

Kobe

London

Los Angeles

Deposits received for fixed

ratos to be obtained on

›ovar H.S ́8,000,000.00 | over H.$80,000,000.00 Every description of Banking and Exchange business transacted.

Current and Fixed Depoals Acconnte in local and for- "eign currencias opened for alfants.

Savings Account and safe Deposit Boxes, Branches and Agencisë Alf over the world.

KAN TONG PO,

Chief Manager

the motor and aircraft Industries, with one of the new type of Diesel serious objection and ask redress at ed themselves entitled to raise a while they had laid the foundation electric railcars.

HARPSICHORD MUSIC. The report was unanimously (Revived

of a new clock industry. The com. The railcar used for the trial the hands of the Government. pany was in a sound financial posi- service can carry sixty passengers

tion to deal with the Increased and luggage at 65 m.p.h. It red adopted. trade, which they believed would crates its own electric motive power vice-chairman of Sir W. G. Arm- materialise as the result of the on board by means of an oll engine, strong Whitworth, and Co. (en- revival of English clock-making, ~ and can be operated at approximate-gineers), the firm, which mann-

The report was adopted.

Your

by half the cost of vice of the same trial it was driven

steam loco only thred

PRINTING once in drivin

The trial

chief, mec LNER

steam serfestured the railcar.

Ib

who had

Alec Rowley)

Obtainable

On the outward journey a typlek TSANG FOOK PIANO

COMPANY.

rban service, was run, and afng

22