1932-02-15 — Page 2

*

THE

CHINA

MAIL.

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Actwined Ospital $50,000,000 Imroad and Fully Puidup 10,000,000 Emers Funds—

6,300,000

gla ............. 89,000.000 Bosarva Lisbility of Proprietors - $3,000,000 HEAD OFFICE, HONG KONG.

DOARD OF DIRECTORA :—

I. Mr. C. O. B. Mackin. Chairman.

Do. Mr. J. J. Paterson. Deputy Calzona.

"W. B. 841, En.

3. A. Plumesar, Bag,

A. B. Compton, Esq., T. I, B. Shart, Baq.

J. P. Warren, Bag.

Chist Manager.

V. M. Gmyburn. Kaq.

DRANCHES :-

LONDON

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1858.

AMRITSAR

BANGKOK BATAVIA

BOMBAT

CALCUTTA

CANTON

DAWNPORE

OKAU

COLOMBO

DAIREN

NEW YORK

PENANG

RANGOON HAIGON

THE NO HONG BANK, LTD.

(Established 1917.)

HEAD OFFICE:-SINGAPORE. Hong Kong Branch: 18, Quem's Ed. C.

Authorland Capital Straits $80,000,000 Issued Capital....

Paid-up Capital .......

Liabilities

-G. Minkin, Bag,

I. Z. Pearce, Esq.

AMOT

DANGKOR

BATAVIA

BOMBAY

OALOUTTA

CANTON

CHEFOO

COLOMBO DAIREN POOOO

НАГРИОНА

FARDUBO

HANKOW

HARDIN

HOMOKES

ILOILO

JOHONE

KOBR

LYONS

MALACCA

MANILA

MUAR (abors)

MUKDEN

NEW TORI

PEIFING

PENANG

RANDOON

SAIGON

SAN FRANCISCO

BHANQUAL

SINGAPORE

BOURARYA

SUNGE PATANI

TIRNTHIN

TOXTO

ΤΗΙΝΟΙΔΟ

TOKOHAMA

KOWLOOK

KUALA LUMTUR

Cirent Acuts opened in Lonal Currency

and Fixed Depoll

shorter periods In

incalved for one year of

el Buwepoy and BlarBug

og lerous whink wil be quoted on application.

Hong Kong, December 7, 1901.

HONG KONG SAVINGS BANK.

The Euxins of ile abere Back

ronducted

by sbe HONG KONG AND RETANGHAI HANT INO CORPORATION. Res may be obšalmed on application.

FOR THE UNDEONG AND BHANGHAI BANKING CORPORATION.

V. M. DRAYBURN,

Chief Manager.

Hong Kong, 13th July, 19).

THE BANK OF CANTON, LTD.

Established 1912.

Head Office-Hong Kong.

Aphorised Capa) (II.K. Current)@11,000,000

P-Op Capital .......

Barres Fund .......

ENANGHIRS-

1,100,000

Canton, Shanghai, Kunkow, Swilʊw. Bangkok, New York and San Francisco.

LONDON BANKERS —

The Llard's Bank, Limited. CORRESPONDENTS

In all principal cition of the World.

Foreign Exchange and banking busman of

avery Specipher transactad.

Bala Depout Besés [variom slam) si a poszły

vanil of Trond 6 10 40.

LOOK POONG SHAN,

Chief Manager.

THE BANK OF CHINA. 行銀國中

8,000,000

4,000,000

Beserve

of Shareholders

R

4,000,000

HEAD OFFICE: LONDON.

Surplus

1,887,000

Paid-up Capital Reserve Fand

.£8,000,000 .£1,000.000

|

Branches, Agencies an Correspon- danta in the principal sides of" the work.

Reserve Liability of Pro-

prietora

£3,000,000

Agencies and Branches:

ALOR BIAB

KUONING

MADBAS

MANILA

MEDAN

PRPING (Peking?

DELHI

HAIPHONG HAMBURG

HARDIN

STANOW

ΠΟΝΟ ΚΟΝΟ

ILOILO

год

KARAONI

KLANG

HOEF

KUALA KANGSAR

KUALA LUMPUR

SEMARANG

SEAENDAN

BHANGHAI

SINOPORE

KITIAWAN

Eracy description of Banking and Exchange business transacted.

TAN ENG HOOL

Manager.

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Surplus and

Undivided Profits ..U.S.$226,037,392

Branches lo

PHILIPPINE

SOURABAYA

TAIPING

TIENTRIN

TOKYO

ARGENTINE

LONDON

TONGKAH LEhuket)

TSINGTAO

BELGIUM

MEXICO

YOKOHAMA

BRAZIL

PANAMA

ZAMBOANGA

CHILE

PERU

CHINA

19LANDS

CUBA

PORTO RICO

STRAITS

REPUBLIC

SETTLEMENTS

INDIA

URUGUAY

TTALY

JAPAN

VENEZUELA

Commercial and Travellers' Letters

Foreign Exchange and General. COLOMBIA 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, 1991.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

BANKERA,

Established 1824,

Hong Kour 08os 1—11, Queen's Road Central.

Authorised Caglia: ............................. Qulidace 189,000,000. Pald-Up Capital

Guilders 10,080,000- Ilaser Fund

Guilder 40,015,000.

Hrad Ohio:-AMSTERDAM',

Enter Head Ofni:-BATAVIA.

| Brunchat :—Dandjarmasin, Bandong Bombay

paber, Olauti, Cheribus,

Djak Jakarta", The Angus", Jidak, Kobe, Makassar, Medan, Palembang. Pak logan, Penang. Rangone, Rotterdam", Hemarang, Shanghal, Bizapora, Sors bal, Benekarta (Solo), Tal, Tillatjap and Weltevreden","

• Those offoss hare Sala Deposit Boz to Let

LONDON BANKERS :--

NATIONAL PROVINCIAL BANK LTD.

Cosraspondents all over the world. Backing Dual- tes of 'nvery description transscled.

A. STOKKINK,

Hong Kong, lai December, 101.

THE

Manager.

AMERICAN EXPRESS COMPANY.

INC.

Head Office:-66, Broadway, New York.

Roorganised October 28, 1928, under

Capital

special charter of The National Gov- ernment an an

Surplus

Reserves

INTERNATIONAL EXCHANGE

BANK.

Subscribed Capital .$25,000,000.00

Pald-Up Capital ́

Berlin

$24,710,200.00

Asterdam Antwary Áthans

Reserve Funds

.$ 3,820,503.82

Besta

Blacrits

HEAD OFFICE: SHANGHAL

Best bay

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 ellouts apecial facilities for domestic and foreign banking and exchanges.

We also handle the laue of Bonda

Beaman Benela Buon Al

Calro Calicila Селе

Colombo Catandup!

Copenhagen Edinburgh Vlonde Соста

.U.S.$8,000,000 .U.S.$1,572,45€

.U.S.$1,908,209

BRANCHES:---

Nice

Naples

Pirmus

Genoa Clangor Harinn Hamburg Havre Interlukan Jerusalem Jade Leados Liverpool Interne

Lugano

Lutor

Marsalis

Monte Carlo

Manlle

Munich

Montreux Killen

Paria

Γκάμα

Peking

Fale co Bottardata Ilome Alacabout Bhanghai Southampton

DOMINICAN

and

Commerce

Finance.

CHINESE CUSTOMS REVENUE

COLLECTIONS FÖR 1931.

Statement of Inspector-General of Customs.

MONDAY, FEBRUARY 15, 1932.

A. A.-B.-Says A Word

TO MESSRS. MACDONALD AND BALDWIN

CONTRACTION OF CONSUMPTION WILL WASTE LABOUR AND CAPITAL INSTEAD OF ABSORBING THEM.

"Water, water everywhere,

Nor any drop to drink:"

Sinking back into the medieval conception that gold was wealth, -"Ancient Mariner." selling only for gold, and refusing Speed, noise, and glare, are the to accept commodities as counter

Nanking, Jan. 22, (a) G.U. 50,488,284.32-Sh. Tla. trinity of gods which modern de balance, the finance men of God's The Ministry of Finance issued 65,837,057.65 and (b) Sh. Tis. 55,mocracy worships as devoutly as own country, reputed to be the to-day the following statement of 975,951.43, respectively, or if calany tribe its fetish. I hate them cleverest and the hardest on earth, Sir Frederick Maze, Inspector-culated on a silver basis alone, each and all, but that has nothing have only succeeded in turning in- General of Customs, on the Cus-Sh. Tls. 119,813,009.08 as compared to do with this article, which is ternational traffic into a one-way toms revenue collection for the with Sh. Tls. 91,474,349.31 for 1980, written to show how science has track, and by their tariffs creating

The silver cost of the service of over-reached itself, and how the jam. year 1931 and the foreign and do- mestic loan obligations:-

these obligations in 1931 has there-

up

Con-

Maritime Customs,

fore exceeded that of 1980 by Sh. Young world in a hurry has only We have got to knock America Bucceeded in heaping goods and France off their gold perch. The Maritime Customs Revenue | Tla. 28,838,659.77.

which it cannot enjoy.

And if England and Germany, and for 1931 (ie., Import Duties, Ex-Domestic Loans & Treasury Notes.

The first thing to do is to get Italy combine to stop this tribute The service, both interest and re- port and interport Duties, and Ton-

your perspective right: Within the of war debts and reparations, off in round demption, of all Domestic Loans present century we have broken the their gold perch America and nage Dues) amounts figures to Hk. Tls. 246,064.000. and Treasury Notes secured on

Of the above sum:

cancelled Indemnities and on Ad- age-old tempo of material progress. France will have to come.

Ta-day's civilisation may not equal gressmen and senators may blustor 1.- Hk. Tis. 128,218,000 G.U.{ditional Duty bas been met the Greek for beauty, or the Chin- and bully; they may even repudiate 109,161,000, were collected on aler provided for in full. The Gold Unit basis, in Gold Units. interest on those Domestic Loans eac for durability, or the medieval President Hoover as they did Wil

for spirituality. But in dynamic son; but are they coming over to 2. Hk. Tls. 73,749,000=G.U. 64,-which are secured on the old 6 per of Crodite, Travellers' Cheques, Bill of Exchange and Cable Transfers 056,000, were collected on a Gold cent. Customs Revenue surplus was energy, in mastery over the forces fetch the money? Hoover and Mel- bought and sold. Current accounts Unit basis at varying gold- ex-met in full with funds from differ- of nature, it beats anything the lon know Europe too well for that. and Savings Bank accounts opened

world has ever seen, says A.A.B. Had gold been brought under the forced draught of production ap- (a) 7 por cent. Consolidated in the Evening Standard. Loan, 20th Coupon: $295,600.00; A little over a century ago there plied to other commodities, the met with old 5 per cent. Customs was no system of highways which world would not now be weltering equalled the Roman roads, no post- In the paradoxical condition Revenue surplus funda;

and Fixed Deposits in tal and for change rates, in silver.

3. Hk. Tls. 44,102,000 ware col- lected in silver (Haikuan Taels).

Hk. Tis. 246,064,000.

cign

taken at rates that currencies may be ascertained on application to the Bank

We are also able to offer our Cus- tomers the services of the Branches

The following table shows in of the International Banking Cor. round figures the collection for poration in San Francisco and Spain 1931 at the principal ports and the and also of The National City Bank increase or decrease as compared of New York (France), S.A., in Paris with the figures for last year:- and Nice,

F. MED. COURTNEY,

Hong Kong, June 18, 1831.

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

ent sources as enumerated below:

(b) 6 per cent. Consolidated Loan, 21st Coupon: $979,060.11

(c) 7th Year Long Term Loan,

452,000

Manager.

Collection, 1991

Hk. Tla,

Harbin Antung

5,272,000

Increase

Hk. Tla. 1,193,000

Decrease Hk. Tis.

3,682,000

Dairen

12,443,000

Newchwang

3,792,000

113,000 386,000

Tientsin

23,340,000

10,116,000

Kiaochow Hankow Shanghai Amoy

11,439,000

2,258,000

9,559,000

2,063,000

124,536,000 4,224,000

37,892,000

· 767,000

Swatow Canton Kowloon

5,404,000

11,126,000 5,375,000

HEAD OFFICE:-Taipeh, Formosa.

Incorporated by Special Imperial Charter, 1899.

Central Bank In Formosa. Bank-Notes issued återuge amount ...Yen. 43,000.006 BRANCHES AND AGENCIES: JAPAN-Toyko, Yokohama, Kobe, Osaka, FORMOSA-Oiran, Kayi, Karinko, Knelung. Makong, Nanto, Shinchliku, Taichu, Tainan, Takso, Tamoul Town, Hollo, Taito, CHINA 1-6Langbal. Hazków, Amoy. Farbow,

Hwalow, Canton,

OTHERS-Hong Kong. Singapore, Boerabaya,

Native Customs.

486,000 1,382,000 4,078,000

27th

Coupon: $945,000.00 temporarily

met

surrounded by plenty. equilibrium would. have preserved.

"frozen

The

ing service quicker than Caesar's, of want no telegraphy better than the sema- The

All this been phore of the Persians. has been revolutionised by steam, credita," which will spoil the

dinner electricity, petroleum and rubber, Christmas

of most which have annihilated distance, bankers, are the overdrafts drawn and hustled produce to market in against commodities at high prices, such quantities and at such speed which have now fallen to rubbish that we stagger under abundance, prices. How are these frozen cro- Cereals form the largest item indita to be thawed, as they must be, the commerce of the world, its ship- unless the world is to be frozen in ping, its marine insurance, its the frigidaires of gold-buga? banking and its bills of exchange. We cannot, unfortunately, like Cereal surplus is one of the main the Neapolitans, call in a priest to ingredients in the world slump, and melt the frozen blood of their pa- this surplus was caused by a period tron saint. The only way to rea- of high prices inducing the use of tore the circulation of gold is to methods of intensive production, of create more gold, by treating gold mechanical and mass manufacture as a commodity and applying to it and cultivation.

the same methods of scientific and intensive production that have pro- Factors Overlooked.

duced the glut of commodities. The collection of Native Customs with funds

Consider the meaning of the tech- ad- Bemarang, Batavia, Bombay, London. Now office under the control of the Ins-

It will be done, and is already nical expression, "Increased econo-being done in West Africa. Tork, Dalren

vanced by Cenral Bank of China,

There pector General up to May 31, 1931, Bank of China, and Bank of Com-mic catchment basin to transcon- will be fresh gold discoveries all tinental railways." That means over Africa, for the Rand is by no

LONDON BANKEBS:

Bercings Bank, Ltd., Lloyds Bank, Ltd., Midland Bank, Ltd., Westminator Bank, Ltd.

The Bank has Correspondente in all the principat Commercial Centres throughout the world. X, NAGURA.

HONG KONG BRANCH:

3. Das Voeux Road Costral. Hong Hoog, December 24, 190),

Younger.

VICTOR RADIO SERVICE STATION.

All types of Radios,

Singapore St. Koris

Electric Gramophones, etc., can be repaired

Ticolin

Finan VanSos Yokoham

Zurich

Branches of American Express Com-

and other Publie Fonds of the Chin pany in Principal cities of United

ese Government both at home and States of America, and Canada. abroad.

SHOU J. CHEN,

All clauses of Commercial Banking Manager. Transactions undertaken.

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~YOKOBAMA.

Branches and Agencies at:

Alexandria

Batavia

Berlin

Bombay

Calcutta

Nagasaki

Nagoya

Newchwang

New York

Osaka

Canton

Changchun

Peiping

Datron (Dalny)

Rangoon

Hamborg

Bankow

Fenetlen (Mukden) Blo de Janeiro

Hong Kong

Honolulu

Yuen Karachi

tu Kode

London

Los Angelos..

A Manila

'

San Franciaco Seattle

Semarang Shanghai

Skimonoweki

Singapore

Boerabaya, Sydney Tientsin Tokyo.

Tsingtas

Interset allowed on Current AG-

2 Deposita received for fixed periods drat rates to be obtained on application.

H. MORI

Mazager. Kong, 11th September, : 1581.

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 Department.

E. W. DUGGAN,

Manager.

by our

RADIO EXPERT

and AMPLIFICATION ENGINEER

COMPANY.

-the date on which these establish- menta were closed by order of the Government, - amounted to Hk. Tis. 2,260,000.

Total Customs Revenue: Hk. ¡Tls. 248,814,000.

Flood Relief Surtax.

munication.

(a) 7 per cent. Consolidated that the catchment hasin of the means done with, and all over the Canadian Pacific Railway, when it world, in Siberis and Alaska, as- Loan, 21st Coupon: $285,600.00

(e) 6 per cent. Consolidated was opened, was about ten miles sisted by machinery and motor

оп each side; Loan, 22nd Coupon: $979,060.11

being transport. Silver, because it is, as

that

(f) 7th Year Long Term Loan, about the distance which farmers to 80 per cent. of its production, a could bring their produce by wag-by-product of lead, zinc, and cop

28th Coupon: $877,500,00 The collection of the Flood Re- (g) 17th Year Long Term Cur-gong. To-day the catchment basin per, has come under the forced lief Surtax on imports and exports, rency Loan: monthly provision for is more than 100 miles on each side, draught of production, and has which was enforced as from Decem-interest; met with funds from Ad-along which the grain comes pour fallen 66 per cent. in value during ber 1, 1931, amounts, In round ditional Duty and Surtaxes.

ing in on motor-lorries.

the last ten years, the fall being figures, to Hk. Tls. 1,025,000.

In view of the persistent report

Another factor overlooked, or accentuated by certain Govern- Foreign Loan and Indemnity that the additional duties of the under-estimated, by our purbiind ments demonetising and selling Obligations secured on the Customs Customs in the Ldangkwang Pro-politicians and bankers has been silver. In time this precious metal Revenue.

vinces is being retained by the the hand-in-hand advance of those will be called in to assist the situa- All Foreign Loan and Indemnity Canton Government, the Inspector twin sisters, the Internal combustion. obligations secured on the Customs General, Sir Frederick Maze, issued tion engine and rubber.

Let me quote a passage from the Revenue, including the service of a statement to the effect that this

Between 1921 and 1829' the con- American Nation, which is rather

HUMPHREYS ESTATE & FINANCE COMPANY, LIMITED.

+

ro-

the Reorganisation Loan, have been is not correct and the Liangkwang sumption of rubber has increased disquieting, both to Americans and met in full. The cost in (a) Gold ports resumed their regular remit- two-and-a-half times. Unfortun- ourselves, from their issue of Sep- Units and (b) silver of the service tances as usual from January 1,atoly, the slaters have not always tomber 30, 1981. of the above gold obligatione was 1992-Kuo Min.

been able to keep step, for in 1911

"The visible malady of a produc- motor production got so far ahead tive power in agriculture, manu of rubber that the latter was caught facture, transport, commerce, that short, and sold at 12. alb.

is able to turn out goods faster To-day it is the other way about, than they can be bought or con- and motor production has got so sumed, can only be cured by mone- far behind her sister that our sand-tary and other economic blind statesmen are apparently forms which expand the 'consuming willing to abandon caoutchouc, the power of the low-standard classes coming mistress of the world, to and peoples of the world, enabling blacks and Dutchmen. When the them to raise consumption so as to Balkan peninsula, Russia, Turkea- keep pace with the accelerated tan, China, Africa, and Brazil are powers of production. Such a Bud- covered with motors of every kind, get as that of Mr. Snowden we may realise what fools we have is the precise antithesis of such a been to allow this industry to slip remedy. It seeks to contract con- through our hands.

sumption instead of expanding it, I hate to bother my readers with and will increase the waste of idle Agures, but it is true that you can capital and labour instead of ab- do anything with statistics, and aorbing them." ·

At the annual ordinary general Which the Directors recommend meeting of this. Company to be should be appropriated as

fol- TSANG FOOK PIANO held on February 29, the following lows:

report is to be presented to share- Pay a Dividend of 8 per | holders:-

cent, and Bonus of 4 The Directors beg to submit to per cent. on 150,000 you their Report and Statement of old shares Accounts for the year ended Decem-Pay a Dividend of 8 per ber 31, 1881.

cent. and: Bonus of 4 per cent. on 50,000 new shares

8, Des Voeux Road, Central, (Entrance Ice House Street) Telephone 24648.

THE BANK OF EAST ASIA, LTD.

Established 1918,

HEAD OFFICE::

10, Des Voeux Road, Central HONG KONG

Capital and Surplus

Total Resources

over HS 8,000,000.00

over, IL.330,000,080.00 :

Every description of Banking and Exchange busido traxiuscted.

Current and Fixed Depozit Apoqunts in local and for- eign currencies opened for ellente

Savings Account and Safe Deposit Boxen, Branches and Agencies all over the world.

KAN TONG PO,

Chief Manager:

The Net Profit for that period,

after deducting Direc tors and General Managera'

remunera-

tion and including $47,776.50 brought forward from last ac- count; amounts to...$429,924.89

AN INTRODUCTORY HISTORY

A, H. CROOK' OBE. MAN W KAT, HA

W. L HANDYSIDE MA, B.Sc

PRICE $2.00

NOW, ON BALE AT THE PUBLISHERS

.$180,000.00

40,000.00

(Ranking for dividend as from nothing without them. The supply Why, this is sheer inflation! And

May 1, 1981.) Transfer to a Rebuilding

Reserva Carry Forward.

of cotton, American and Egyptian, so it is. This is poor tub-thumping during 1981 is estimated at four Bryan again with his "cross of 150,000.00 million bales more than any provi- gold." "And so it is. Call it what 69,924,89 ous record supply, and thirteen you will, I invite Messra, Mac- and-a-half million bales more than Donald and Baldwin, before they $429,824.89 any previous record consumption combine against Tories and La- Directors.

So much for cereals, cotton and bourites, to ponder how they mean Since the end of the financial

Between 1924 and 1831 to restore the balance of trade by Irubber. year, Mr. J. H. Taggart resigned the following commodities have in contracting instead of expanding his seat on the Board,"

creased in quantity enormously consumption. Let them sit down

In accordance with Clause: 88 of sugar, coffee, tea, tin, copper, lead, to their seasonal banquets with the Company's Articles of Asso spelter and patroleum: ciation Mr. J. Scott Haraton, Mr.

Proud Mana J. M. Alves and the Hon. Mr. C.

But man, proud man, advancing Gordon Mackie retire, but being with speed, noise, and glare, as eligible offer, themselves for re conquering weapons, has over.run election.

Sang Anditors,

himself, by his neglect to bring unlere forced draught of pro The Accounts? hævd(béen auditad 'dliction, one metal, which hê hás by Mesars, Percy Smith; and allowed to remain under the lock Fleming, and Mesers.

and key of bankerng.Gold Davis, who offer themselves for re confidered as a commo

election,

but as

of exchange, a counter.

such appetites as they can com- mand