1932-02-10 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION,

--$50,000,000

Aukhwierd Onplšai song Imrued and Pally Pull-up

- 10,500,000

£6,500,000 $10,000,000

Reseres Punds —

forling

Mossers Libility of Propelstora .......... $30,000,000

HEAD OMPTON: HONG KORO,

BASED OF DIAZOTORS :-

How. Mr. C. G. 8. Maskin.

Tion Mr. J. 1. Paterson, Deputy ChairmaO,

"W. EL Ball, Reg.

▲, H. Complau, Big,

G. Miskia, Eng.

1. E Poarca, Bag,

ANDY

DANGBOK

BATAVIA

BOMBAY

CALCUTTA

OLHTON

QUÉPOO

COLOR BO

DAREN

MOTION HOME

HAIPHONG

HAMBURG HARKOW

HADOIR

HONORRT

ILOILO

JIKJAR

KOSK

KOWLOON

3. A. Plummar, Bag,

T. 1. B. Shaw, Eng.

1. P. Warren, Bag.

Cile! Manager.

V. H. Grybuto, Eng.

DEANOLTER:

KUALA LUMPUR

LONDON

NURDEN

NEW YORK

PEPING

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA,

THE

CHINA

MAIL.

THE HO HONG BANK, LTD.

(Batablished 1917.)

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

Authorland Capital Strata $20,000,000) Issued Capital .... Paid-up Capital

8,000,000

4,000,000

4,000,000

2,687,000

Incorporated by Royal Charter, 1855. Reserve Liabilities

of Shareholders. Surplus

£3,000,000 $4,000,000

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

TAN ENG HOOL

Brunchos, Agencies and Correspon- eats, in the principal cities of“ the world.

HEAD OFFICE: LONDON,

Paid-up Capital

Reserve Fund

Reserve Liability of Pro-

prietors

Agencies and Branches:

ALOR STAR

KUCHING

AMRITSAR

MANGKUK

BATAVIA

MAY CALCUTTA CANTUN CAWNTOLLE CRAV

CULORDO DAIREN

DELN

TEANDURO

HAIPHONG

HANROW

BAMBIN

MADRAS

MANILA

REDAS

BEW YORK

PEPING (Teling) PENAND

BANUGON KAIGON SEMARANG SEREMBAN НКА КОПАТ

SINOPONE SITIAWAN KOURABAYA

AITING

TIENTSIS

TOKYO

Manager

THE NATIONAL CITY BANK OF NEW YORK.

ITEAD OFFICE: 53, Wall Street. NEW YORK.

Capital, Sarplus and

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

Branches in:—

ARGENTINE

BELGIUM

LONDON

MEXICO

Commerce and Finance

GERMANY'S FINANCIAL

SITUATION

HER ECONOMIC LIFE SERIOUSLY ENDANGERED.

WEDNESDAY, FEBRUARY 10, 1932.

NOW THE STONE

STANDARD

“HAPPY YAP."

Solving the Currency, Problem:

"Happy Yup," said the Traveller. mark on it and leaves it where it "What is that noise?" asked the is." Banker,

The Banker laughed con+ temptuously at this. "The poor, "Yap is an island in the Pacific," benighted heathen," he explained.

currency."

* gold

explained the Traveller.

"They have not evolved far enough "Why are they happy there?" to have the advantages of a asked the Banker.

"Because tney have solved the "But you haven't à gold cur currency problem," said the Travel-rency," argued the Traveller.

"No, but we keep gold in reserve," "How did they do that?" asked said the Banker, "and still think in terms of gold even if we are off the

For the next few weeks, inter- omitted a similar clause from their that, in spite of the national attention will be focussed Scheme, so

appreciation in the value of gold upon Germany's financial position, which has taken place during the ler. particularly as it affects her ability past two years, Germany's repara the Economist eagerly. Lo meet her foreign short term tion liability, as expressed in gold,

"I wish we could solve it," com- gold standard. We hold it as a liabilities and to resume the pay- remains unaltered. It should not

reserve against circulation.” tent of Reparations. The proposal be overlooked that the War Debt mented the Banker, sadly.

"They used stones for money.” "Then why not. put it into cir- of President Hoover in June last Funding Agreements concluded bo- the Traveller explained. "They are culation?" asked the Traveller. for the postponement during the tween the various recipients of Beat discs of different sizes, called "We can't do that, because it has your ended June 30, 1932, of all parations and their creditors do not fel. The, big ones are 26 inches in to be kept to pay international payments

inter-Governmental contain any provision of this char-diameter and weigh 150 pounds, differences," explained the Banker. Debts, Reparations and Relief Debta acter.

The email ones are used for petty "Why not pay them, then, and The Young Plan, which was only made to avoid an impend-

cash. One of the big ones will buy keep up the value of sterling?" ask- PORTO RICO ing breakdown and to provide a formally adopted in the Hague

acre ofed the Traveller. STRAITS

breathing space in which the criti-Agreements, however, accorded to a canoe, a quarter of an

land, or 10,000 coconuts."

"We cannot do that, either," sald SETTLEMENTS cal financial situation in Germany Germany the right, on giving 90 URUGUAY

"Not a convenient currency, I the Banker, "because our gold is a VENEZUELA

could be examined in all its bear-days' notice, to suspend for a maxi-! ings. The proposal, although even-mum period of two years from its should say," remarked the Econom-legal reserve against circulation." Commercial and Travellers Letters tually accepted by the various inter-due date all or part of the transfer divisible, indestructible, and stable swim. "Do I understand," he ask- ist. "It is not portable, acceptable, The Traveller's head began to of Credits, Travellers' Cheques, Bills eated Powers, failed to achieve its of the postponable part of the Re in value as all good money should ed, "that you don't use your gold for of Exchange and Cable Transfers

BRAZIL

PANAMA

LYONS

RALACHA

EUNG EONG

MANILA

ILOILO

1Pon

MUAB (Jobon)

KARACI

TONGRAR (Dukes)

KLANG

TSINGTAO

RUBS

TOKOHAMA

KUALA KANGSAR

ZAMBOANGA

CHILE

SHALA LUMPUR

CHINA

Foreign

Exchange and

General

COLOMBIA CUBA DOMINICAN REPUBLIC INDIA ITALY

PERU PHILIPPINE

PENANO BANGOON

SATOON

HAN PRANCISCO

NHANOHAL

SINGAPORE

HOURABYA

RUNDEL PATASI

TIENTSIN

TOKYO

TSINGTAO

YOKOHAMA

Current Accante opened in Local Currency and Vined Degrella soralend ler neve your de scrtus periode in Local Chirennay and Recling om arm which will in quoled va application. Hong Kong. Decerober, 1991.

HONG KONG SAVINGS BANK.

The Bustare of the above Bank in conducted

by HONG KONG AND SITANOHAI BANK- THO CORPORATJOK. fuls may be obtained an application.

FOR THE RONOKONG AND RELANGHAI NANKING CORPORATION,

Y. M. GRAYDORN,

Hong Kong, 19h July, 1980,

Oldal kasagot.

THE BANK OF CANTON, LTD.

Established 1912.

flead Office:-Hong Kong. Authorland Capital (1.5. Oustenus) ...$11,000,000 204-Op Capital

2014.108 1,100,000

Geserve Fund

BRANCHES [-

Caton, Shanghai, Kankow. Awalow, Bangkok, New York and Pan Premier.

LONDON BANKERU¦--

The Lloyd's Bank, Lémited, CORRESPONDENTS

La ali principal ollier of the World.

Paralya Exchange and banking trauma of

arry Conception transseled.

Gala Depot Bozen (eueloun sizun) si a pouriy melað af from $1 to $40.

LOOK POONG SHAN,

Chief Manager.

THE BANK OF CHINA.

行銀國中

Subscribed Capital ....$25,000,000.00

Pald-Up Capitai

Reserve Funda

Banking business transacted.

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

J. STUART,

Manager. Hong Kong, August 17, 1931.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING BOCIETY)

BANKEBS,

Established 1524.

Hong Kate Office, Queen's Boad Central.

Authorized Ospital Jultders 180,000,000. Pald-Up Capital

Guliders $6,000,000. Tenero Pud

Guilders 10,015,000-

Hond for ~AMSTERDAM”. Eastern load Office:-BATAVIL

Borsbay. Benaolew; --Banjarmale, Bandowns",

Dobet, Onlusta, Cheriton,

Dik Jakarta, The Begun”, Húðah, Lobe, Atabar. Moda, Palabang, Poka Longan Fang. Rangoon, Botterdam', Bemarang, Bhanghal, Mampore, Boers. bais, Boorakarsa (Hold), Towal, Tjlimijay and Wells redea",

• in offs have Safe Depot Douse to Lel.

LONDON BANKERS :—

NATIONAL PROVINCIAL, BANK LTD.

Currenpedro la ali over the world. Datcking Bual bone of every description transected.

A. STORKINK,

!

Hong Kong, at Broomhor, 1931.

THE

Kang07.

AMERICAN EXPRESS COMPANY.

Ashens

ماهوار

JAPAN

ISLANDS

on

Was

bought and sold. Current accounts main purpose of preventing the paration annuity, but in the event be."

fel."

currency purposes because it is

and Savings Bank accounts opened development of a crisis, which, as of advantage being taken of this and Fixed Deposits in local and for subsequent events have proved, has clause, a Special Advisory Commit "Yet it appears to be acceptable wanted for foreign balances, and eign currencies taken at rates that had worldwide repercussion. In tee was to be summoned by the cough," said the Traveller. "You you don't use it for foreign balances may be ascertained on application to the Bank.

Germany, a complete breakdown Bank for International Settlements, can buy a wife with one of the big because it is wanted for currency

"Something like that," admitted We are also able to offer our Cas-was only avoided through the coun-consisting of one representative of.

"We don't buy wives," said the the Banker. tomers the services of the Branches) try's foreign short term creditors each of the Central Banks of the

Economist. of the International Banking Cor-consenting to what was virtually a seven principal Powers concerned,

"What do you use gold for, then 7" poration in San Francisco and Spain

"But we pay for them," said thej asked the Traveller. Traveller. and also of The National City Bank temporary moratorium until Febru- together with not more than four

"We don't use it at all really," of New York (France), S.A., in Paris ary 29 next and the absence of any co-opted Members. As the task of

"How do they carry it about?" said the Banker. "We only keep it decided improvement in the situa-this Committee would include a full!

because it looks well," tion has made it clear that, if de investigation of Germany's position inquired the Economist. Manager nite default is to be averted at the in regard to her obligations under the Traveller. "They leave it in "They don't carry it about,” said expiration of that period, a further the Plan and must necessarily em- extension will have to be negotiated. brace a consideration of all her front of their houses."

"How do they use it for money,)

and Nice.

F. McD. COURTNEY,

Hong Kong, June 16, 1931.

THE BANK OF TAIWAN, LTD. 10 these circumstances, a resump liabilities, the conclusion has been then?" asked the Economist.

(TAIWAN GINKO.)

HEAD OFFICE:--Taipeh, Formosa.

Incorporated by Special Imperial Charter, 1899.

Centre lank in Formosa. Bank-Notes und Arunge amount Ten. 45,010,000 BRANCHES AND AGENCIES; JAPAN (-Toyko, Yokohatan, Kodo, (leaks,'

"Why, if a big fel is used for a

INDIAN GOLD TO

AID POUND.

is better than that of the natives "Do you still think your system

of Yap?" inquired the Traveller.

"Undoubtedly," said the Bankar, with pride.

"Well," said the Traveller, "it is

Kenya is waiting with great in- terest to discover whether the Fumours have any foundation, as it is pointed out a big discovery would entirely alter the whole economic outlook of Kanya.

tion of Reparation payments next reached that this Committee pro- July, on the scale laid down in the videa the most suitable means of Hague Agreements, would seem to approach to the present problem. transaction," explained the Travel-exactly the same thing, but you be out of the question, espacially as Therefore, Germany has formally ler, "the new owner just puts his won't admit it."-Truth, the real burden of the annuities has declared her conviction that her "ex- been greatly increased since they change and economic life might be were originally fixed, owing to the seriously endangered by the trans- severe fall in prices. It may be re-fer in part or in full of the post- called that the Dawes Plan contain-ponable portion of the annuities": PORNOSA. Kagi, Kamnio, Ketua ed a provision whereby the sums and the Special Advisory Commit- Makong Nanto, Shianhiku, Taichu. Tatuan, payable by Germany were to be tee has been summoned to meet at Taken Tal, Toes. Heito, Talle QUINA -Slangiai, Henkow, imer. Fuochow, automatically adjusted to corres- Basle on December 7. The Report

Beatow, Cesión.

Committee OTHERS ---Hig Koos, Singapore, Sourabaya, pond with changes in the general and proposals of this

Sekarang Batavia, Bomber, London, New purchasing power of gold, whenever, would seem to be an essential pre- by the decision of an impartial liminary to the summoning of a authority, such changes amounted to Conference of the various Govern-

SHIPMENTS TO BRITAIN. more than 10 per cent. This safe- ments concerned, when vital decf- called into play sions affecting not only Germany, guard was never

Support for the pound is coming whilst the Dawes Plan wae in but also the whole World, will have from within the Empire. This operation and the Experts Commit- to be taken. Barclays Bank's salient fact has been proved by the tee, who formulated the Young Plan, Monthly Review.

York, Düren.

LONDON JANKERS,

Barclays Bank, Ltd., Lloyds Bank, Ltd., 151ðland Bank, Ltd., Viestminster Bank, Ltd.

The Brok Lae Carrospondente in all the pritudpal Comiral Coutros throughout the world. I. NAGURA.

THE MERCANTILE BANK OF

INDIA, LTD.

HEAD OFFICE:

15, Grazschutzh Straat, London, P.G.&

Authorised Capital

Subscribed Capital

...£3,000,000

1,800,000

INC.

Head Office:-66, Broadway, New York.

Mausgee.

Reorganised October 20, 1928, under apecial chartor of The National Gov- ernment as an

Capital

Surplus

Reserves

.U.S.$1,000,000 U.S.81,572,454 .U.S.$1,308,200

KONO KONG BRANCH:

Dos Vaux Bond Contest. Itong Kang, December 24, 1981.

INTERNATIONAL EXCHANGE

BANK.

BRANCHES pun..

Amsterda

Genos

AtWork

(lasgow

Nie Sanfor

ifarans

Pineus

Hainburg

I'

Berlin

Biarritz

Babay

Breman

Brunssin

Buenos Aires

Cales

Ilava Interlaken Jerusalemu Taklo Loudou Liverpool Lucerne Lugano

Pudong

Poklar

Palerme

Stellendam Boma

Stambout

Shanghai

Bouthampton

Bangkok

Blogspo

Вешта

St. Marica

Banusy

ricoula

Caleutia

Kanchi Kota Bharu

Kuala Krai

teater Уокована

Delil

Kumia Lipia

Oičla

Hong Kong Homb

Kuala Lumpur

HONG KONG BRANCEL

som stad.

Travellers Cheques laquad.

taken.

.$24,710,200.00

.$ 3,820,603.82

HEAD OFFICE: SHANGHAI

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, we are able to extend to our cllants special facilities for domestic and foreign banking and exchanges.

We also handle the fasue of Bonds and other Public Funds of the Chin- ose Government both at home and -abroad.

SHOU 1, CHEN,

Manager.

Hong Kong, 5th March, 1981.

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880.

Capital (fully paid-up) 'Yen 100,000,000 „Yon 116,200,000 Reserve Fund

Head Ollos:-YOKORAMA.

Branches and Agencies at:

Alexandria

Batavia Berlin

Calmatia Osades

Lusor Coloria

Marolles Constantinoply Monte Carlo

Copenhagen Manila Musich Milleherab Florence

Dutrous Osnova

Milan

Уна

ca tinh

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

All classes of Commercial Banking Transactions undertaken.

J

Personal investment accounts handled.

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

Nagasakd

Nagoya Newchwang

Bombay

New York

Galatta

THE

Canton

Changchun

Daken (Dairy)

Parl Pelping Rangoon

Hamburg

Hankow

Fenstien (Mukden) Rio de Janeiro

Harbin

Honolulu

Ton Loan

Han Franciaco

Beattle

Semarang Shangbil Shipione old Singapore Soerabaya:

E, W. DUGGAN,

Manager.

Paid-up Capital ....... 1,050,000 Reserve Fund and Rest 1,680,845 DANKERS

The Back of England Midland· Bank, Ltd.

BRANCHES 1

в рай

Kandy

New York

Penang

Port Louis

(Mauritius) Haugoce

LIFE OFFICES AND

BONUSES.

Move to Postpone Annual Valuations.

MR. WICKHAM STEED ́ON WORLD CRISIS.

Idealism

War-Time

Again Required.

Double the World's Output.

arrivals of large weekly consign- ments of hoarded. gold from India,} says the Daily Telegraph.

Gold is being seat from India at a rate which is double the annual): production of the gold mines of the world.

•

The world output of gold last year was about 20,000,000oz. Re- cent shipments of gold from India have totalled about £2,500,000 week-

Mr. H. Wickham Steed was the ly, or at the rate of £180,000,000 a

The leading British life insur- ance ollices are now giving careful guest at luncheon of the Amer-year, which is equivalent to about consideration to the question of the can Chamber of Commerce in Lon. 40,000,000oz. Bankers regard this don, and addressed the members Indian gold as of first-class import- valuation of their investments at on "The World Crisis: A Way ance in enabling Great Britain to They were meeting, said repay its debts abroad without de- the end of this year, writes a City Out."

Mr. Steed, on an auspicious date pressing sterling. correspondent.

-December 15-when war debt; The unrest in India is slowing! The problem before this commit-payments were due in New York, down the exports, but only tempor- Every description of Ranking and Exchange tud tee arises out of the obligation im- Apparently the payments would arily. This week's consignment will

Colombo

toplund

hirla Eunosan (Pahang) Singapore Madra

Bourabaja

INTEREST allowed on Ourmak Accounts sać

on application.

7, Queen's Road Central,

Hong Kong, th April, 1991

Manage

Bring Your PRINTING Problems to Us

THE NEWSPAPER ENTERPRISE, LTD. SKIKA MAI BUNA, '« SA WYKDKAN' St.

It was only a day or two ago that a gold reef was discovered in the centre of Johannesburg. This, however, cannot be mined owing to the law forbidding mining under towns in South Africa.

•

MORE!...

She's growhig, and how you like to ses her getting bigger and stronger all the time. And how abe eata! Her appetite is aways good because you see to it that every day she performs her natural func tions regularly.

That is the essential thing in chil- dren of all ages. And thousands of parents all over the world rely upon BABY'S OWN TABLETS

posed upon many of the big life not be made because some friend- fall well below £3,000,000, and next Trustee and Executorships under-offices to make a valuation of their ly intimation would have been re- week's export will be curtailed still investments on December 81. This, ceived by the countries concerned further. The golden stream, how- Fixed Deposita of Rates that may be evartaload it is thought, is undesirable, seeing that if they did not make them ever, is only being dammed up. that Stock Exchange values do not their default would not be a subé). Keeping Sterling Steady. C. L. BANDES,

at present form a real guide to fact of criticism. Yet, added Mr. The gold which comes to London intrinsic worth.

Steed, if they looked back to 1919 in shipped by the Indian merchant, Under the Assurance Companiee and 1920 they might wonder if the who gets sterling. With the ster Act of 1909 all life offices have to friendly assurance given would ling he buys rupees. But the metal value their Investments at least once hold good in all circumstances. does not remain here; it is tran- in five years, but many of the The present crisis could be oum-shipped to France, Switzerland, offices make an annual valuation. marised in one phrase for the Holland, or even America. As the Under elther or both of these pro- peoples of the world: "United we sale of the gold la equivalent to an, | visions "some":"fifteen, undertakings stand; divided we fall," Were we export, the proceeds realised by its will have to got out a valuation going to get together, asked Mr sale create a demand for sterling unless the committee is able to re- Steed, and recognise in our hearts exchange. This new movement commend an 'alternative.

we were truly each of us brothers, keeps sterling steady. Question of Bonnises.

or were we going to believe in But if the drain of funds Consequent upon the decline in the sublime efficacy of being poll-trum Loudon should cease, Gilf-edged and industrial securities, tically and economically self-sufi- the Indian gold will rasse all the offices will be faced with a clent, saying, each one for him- the exchange. Then the price BANK OF EAST ASIA, LTD. sharp setback in the value of their self and devil take the hindmoet? of gold will fall. If the price

Investments at the end of the year, If we could get back in some falls, the Indian will then and no her while it li out of the “surplus" on degree to the concerted idealist inducement to sell his boarded gold this account that the bonuses on effort that marked the closing bars and the movement will cease. "with profits" policies are paid. stages of the war, concluded Mr. Unfortunately, while it prevents It is considered that in view of Steed, and if we could believe that further depreciation of the pound, the abnormal conditions now pre- our task was to crasta the begin- the Indian gold does not go into vailing, both in the economic world ning of a new and better phase of active use. It is taken from one and in stock markets, it is undestre civiliation, we could only do it hoard in India and finds its way to able that some officed should be by working in the comicon need, other boards in the central banks of öbliged to make and publidh talna- int he following such lead as may France, Switzerland, or elsewhern. tions while others are able to past- fren to choose the narrow and low Gold in Kenya Done similar acti

We would and a WAY A big gold discovery has been world crisis quicker made at Kakamega, 160 fles from

Established 1918.

10, Des Voeux Road, Central.

Capital and Surplus Total Resources

HEAD OFFICE:

TONG XONG

over F1.5-6,000,000.00

Dyer H.$30,000,000.00

Every description of Banking and Exchange business. transacted.

Current and Fixed Deponit: Accounts in local and for-

currencies opened for Ellantatio Savings Account and Safe Laboait Hoxes. Branches and agencies all over the world.

KAN TONG PO;

Chief Mausger.

than

ny of us imagined to-day,

almost cer-

rmer

for. keeping their little ones in per feat order. This splendid health regulator is specially designed from doctora proscription to ment, the

health needs of the very young.

Baby's Own Tablets are plassant- tastings" gentle in action, and “sooth-

ing to the membranes that line the parages of a child's laternal organs. They are rapidly, afectiva for in- Indigestion and constipation, allay diarrhoes, expel warns During fevers, colds and croup, check teething they case the pains and thus enable baby to sleep though they contain: rib teplate oz harmful drug

Wise Parents Keep Baby's Own Tablets Handy.