1932-03-01 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Autxiard Capita) –

farood and Fully. Pald-up uma

Laser Fund

Max

$20,000.808

$80,000,000 30,008,500

Bosers Liability of Proprietors com 190,000,000

FIRÁN ÖFVION: HONG KONG.

BOARD OF DIRECTORS :-

Hon. Mr. J. J. Paterson,

M. Pacon, Eng

Deputy Chairman.

THE CHARTERED BANK OF · INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON.

THE

CHINA MAIL.

THE HO MONG BANK, LTD.

(Retablbbed 1917.)

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

Authorised Capital Straits $20,000,000 Ised Capital Paid-up Capital

A

Reserve Limbliter

of Shareholders. Burping

8,000,000

4,080,000

4,000,000

Branches, Agencies and Correspon- „£8,000,000 | dente in the principal cities of" the

world. .£4,000,000

Paid-up Capital

Reserve Fund

Reserve Liability of

Pro-

prietors .....

$3,000,000

Agencies and Branchen:

ALOS DEAN

AMBITRAK

W. Z. Bell, Laq.

3. A. Plummer, Kəq.

à. E. Compton, Bag.

KUOLING

MADEAS

PEPINO (Peking)

T. EL. 1. Bhaw, Esq.

B: Mr. 0. 0. 8. Mackle. J. Y. Warren, Reg.

1. Miskin, Boq.

V. M, Gueybona, Bog.

Colač Manager.

BRANWEEN :----

LONDON

LTONS

DANDISK BATAVIA DOMBAT CALGUITA GAXTON

GA WYPORE

DOLOMED

DAIREN

DELHI

FLASPHONO

ILAMBURG

MANILA

MMDAN

NEW YORK

PENAM

BANGOON

BACOOR

MOT

BANGKOK

BATAVIA

BOMBAY

CANTON

MALACOA

MANILA

MUAB (Jokoa)

BALOUTTA

COLORUS

DAIRIES

FOOOLW

HAMBU

HONG KEW

MUKDEN

NEW YORK

PEIPINO

TURNANO

BAMOOON

BEN FRANCIBOO

HHANGHAI

SINGAPUMU

HANKOW

HARBIN

ILOILO

JOSDZE

KOZM

KOWLOON

KUALA LUMPUR.

RAMON

SUMÜZI PATANI

TUESTHIN

TOSIO

TSINGTAO

TOKOHAMA

O cute oposed in Local Currency and Flied Depoelle cared for one your c alorier periode is Lool Ouranoy and Alerting

am karna vhlah will be quoted in application.

Hong Kong, thi Pebruary, 1933.

HONG KONG SAVINGS BANK.

The Dualnem of this shove Dank is conduried by the BRONG ZOWO AND SHANGHAI BANK. TÍO ODPORATION. Bu1as may be thisiped maglioniemi.

FOR THE HONGKONG AND SHANGHAI BANKING (DSPREKMÓN.

Y. M. ODAYUDRN,

Chief Manage

Hong Kong, 17th February, 1932.

THE BANK OF CANTON, LTB.

Batalled 1912.

Bead Office>-Bong Kong.

Kadhaylové Capitol (EX. Darmacy) ...$11,000,000

1,100,000

ВВАНОВНА 1-

Hankow, Swatow. Bingink, New York and Ben Franola.en.

Chaha

LONDON BANKERS :--

The Eloyd's Bank, Limited.

CUCIENSPONDENTA

In all pchvalpel chène of the World.

Foručen Zorlama and banking batuan af

rey davisku, tranmoted.

inda Hapenda Terzas kurtina slove) at a yourly

rastet of Eroer 85 to 690.

LOOK POONG BHAN,

Chief Manager.

THE BANK OF CHINA.

行銀國中

ITANTON

IDARRIK

HONG KONG

stara

SPORT

Коля

SEMAKANO BEREMBAN

SHANGHAI

SINGPORN SETIAWAN SONRABAYA

TAIPING

TIENTSIN

TOKYO

Every description of Banking and Exchangs 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.$226,037,592

Branches (n>——

Commerce and Finance

TUESDAY, MARCH 1, 1932.

READIO

[while the Empire countrien ware again expanding their currencies and raidy their prices to a pro- fitable level, to insulate themselves from the competition of outside na- tions which continued on a defila- tionary course.

MEMORANDUM OF THE CHAMBERS countries,

OF COMMERCE

IMPERIAL ECONOMIC UNIFICATION.

Problem of Uniform Monetary System.

TO-DAY'S PROGRAMME,

The following programme will be broadcast to-day from the Hong

5-8 p.m.-European Programme. 8-5.30 p.m.-Octets. Hungarian Dance, No. 5

(Brahms-Squire),

If once a uniform monetary ays Kong Broadcasting Station Z.B.W. tem were in force in all Empire on a wavelength of 855 metroa

it should not be: (845 K.G.'s) :—–—– difficult to devise machinery for) close collaboration between their! respective central banks, which' would enable timely steps to be; taken to keep the balance of pay-

J. H. Squire Celeste. Octet renta between them in equilibrium,'

(8605R). and so substitute sane co-operation Baby's Sweetheart (Corri),

Chanson (In Love) (Frimi), for insane and suicidal competi-

J. H. Squire Celeste Octet tion.

(9897),

It would hardly be appropriate, La Cinquantaine (Marie),

an

J. H. Squire Celeste Octat (3877).

in a memorandum of this sort, to Gavotte from "Mignon" (Thomas), The following memorandum wos, Each self-governing country jadumbrate any particular monet-} passed by the Council of the Fe-would, of course, retain its ultimate ary system, and the Federation Hearts and Flowers deration of Chamber of Commerce; freedom of action, but is thought therefore contents itself at this (Tobant arr. Willoughby). of the British Empire, at its meet that, in this way, a healthy Im-time with pointing out that a na, The Wedding of the Rosa

(Jessol arr. Willoughby),' rather than

inter ing recently. The Council consiats perial public opinion on a broad tional,

J. H. Squire Celeste Octot of representatives appointed by basis would be created.

Inational monetary system is destri

(DB650). 157 individual Chambers of Com- Uniform Monetary System. jable for the purpose which the Fe-i

5.30-7 p.m.- Owing to the accumulation of deration has in mind, and that, merce and ten Associations of Chambers of Commerce in all parts gold in the United States and of these, central banking practice of the Empire.

France, due to their unwillingness with the rediscounting of commer- The memorandum, which is being to accept payment in goods or ser-cial bills as a backing for the cur- submitted to the appropriate Minia-vices, there has been a steady con- rency, is the most modern. SETTLEMENTS tera both in Britain and in the Em-traction of currency in active cir- South Africa already has this URUGUAY

pire overseas, is as follows: culation everywhere, in an endea-system; Canada's system is closely

The measures

jed by the Indian Currency Commis-

ARGENTINE

LONDON

KARACHI

TONGKAH (buket)

RELGIUM

MEXICO

KLAKO

TSINGTAO

BRAZIL

PANAMA

YOKOBANA

KUALA KANGSAR

ZAMBOANGA

PERU

KUALA LUMPUR

CHINA

COLOMBIA

Foreign Exchange

2nd

General

Banking business transacted.

CUBA DOMINICAN REPUBLIC

PHILIPPINE ISLANDS

|

INDIA ITALY JAPAN

Current Accounts opened and Fix- od Deposits received for ORA Year DF shorter periods at rates which will be quoted an application.

J. STUART,

Masiger.

Hong Kong, August 17, 1881.

NEDERLANDSCHE HANDÉL- MAATSCHAPPL), N.V.

(NETHERLANDS TRADING BOJIRTT)

BANKER.

Delablished (ON.

Hoog Kour Ofoe -11, Quma's Bood' Osateel.

Authorised Capital - Chelldern 100,200,000- Paid-Up Ospital zomerni Grillers 10,200,000. Bosmera Fund - Gulbdeen #9,825,000-

Head Olden :-AMSTERDAM.. Bestown Hood Ofm:-BATAVIA. Branches :--Bacteria, Bazdosag",

Calcutta, Cheriben,

Kakume, Modena, Dilanting Paku Sangan, Pecang. Kangros, Malinečka“, Samamang". Bloogial, "Charopary, „Bases. bala, Boutinela (Solo), Tagi!, WTading and Walletrodom”.

Bombay,

Djok

• Ilona ollane karı Sala Esposli Bate in žel.

LONDON BANKERS :-

NATIONAL PROVINCIAL BANK LTD,

Comprades all over the world. Booking Bush name of every description aransacked,

1. STOKKINK,

Hong Kong, la Becember, 1981,

THR

Manager.

AMERICAN EXPRESS COMPANY. INC.

www

PORTO RICO FTRAITS

VENEZUELA

Relay of "Canaries Sometimes Sing” from the King's Theatre by courtesy of the Management. 7.03-7.30 p.m.-Orchestral Chant Sans Parcies (Tschaikowsky), Chanson Triste (Tschaikowsky),

Court Symphony Orchestra (9447R).

Espana (Waldteufel), which must be your to attract fresh gold or retain allied to it: and it was recommend L'Estudiantina (Waldteufel),

Commercial and Travellers' Letters taken to bring about that Imperial existing stocks. of Cradita, Travellers' Cheques, Bills economic unification for which the While most Empire countries are sion for adoption in that country. of Exchange and Cable Transfers Federation stands, fall into two row off the gold standard, and the bought and sold. Current accounts

The Federation regards the in. In a Persian Market (Ketelbey),

Jacques Jacob's Ensemble (9685).

Court Symphony Orchestra (3422R). 7.30-8 p.m.-A Concert.

Song

and Savings Bank accounts opened categories, those which are suscep- struggle to attract or retain gold reduction of a uniform monetary and Fixed Deposits in local and for-tible of treatment on an Empire-han ceased, they are, nevertheless, system in all the countries of the eign currencies taken at rates that wide basis, and those which should obliged to continue to force down Empire, as of the most vital import may be ascertained on application to be determined through bilateral prices by currency contraction, in ance.

the Bank.

Manager.

F. McD. COURTNEY,

Hong Kong, Jano 16, 1931.

HEAD OFFICE:-Taipeh, Formosa.

Incorporated by Special Imperial

Charter, 1899,

Central Bank in Formos

agreements.

Bllateral Agreements,

order to remain competitive In world markets. Every contraction

TRAVELLERS' BANKERS.

Homing (Salmon & dol Riego),

Muriel Brunskill (Contralto) (3328R).

Instrumental

At Midnight (Aviles),

Violin, Flute & Harp Trio

(1740R).

Jan Cherniavský (3300R).

Comrades in Arma (Adam),

The Salisbury Singers (Un- secompanied) (3246R).

Instrumental-

A Bright Morning on the Alps

(Holat),

Violin, Flute & Harp Trio (2845R).

The Mountains of Mourne

(arr. Collisson),

Song-

A Letter from Mary of Mourne

(Buchan),

Edgar Coyle (Baritone)

(2009K),

We are also able to offer our Cas- tomers the services of the Branches | of the International Banking Cor- So far as these are concerned, the by one nation is followed by cou- peration in San Francisco and Spain Federation welcomes the statement, trations in others, so that the ad-

Thomas Cook and Son, in associa-i and also of The National City Bank made by Mr. Bennett, that all the vantage which the first hoped to tion with Wagons Lits, not only Piano Solo- of New York (France), SA, in Paris Dominions and Nice.

have made arrange- gain a promptly neutralised by the conduct the largest tourist agency Au Convent (Borodina), ments for a preliminary survey of action of the rest. All then are business in the world, but also carry Chorus-- their fiacal and economic situation, once more in the same relative pasi-on banking operations, which, as and that committees would be creat- tion, but on a lower and worse every globe-trotter knows, are of ed to explore diferent problems. level.

considerable service to the traveller. Further, that there would be con- In this way, prices of foodstuffs The latest accounts of Thos. Cook THE BANK OF TAIWAN, LTD. tinuous consultative exchanges, and raw materials have been de-and Son

(TAIWAN GINKO.)

and, where agreements could not be pressed, below the cost of produc- October 31 last, disclose a balance- to (Bankers), made up reached offhand, every effort would tion, and the puchasing power of sheet total of £2,887,439, compared be made to achieve satisfactory 91 per cent of the world's popula-with £5,286,713 a year earlier. compromises.

tion has been reduced. So-called There is no This is along the lines recom- over-production is, in fact, under capital and reserve, each of which change in paid-up mended by the Twelfth Congress of consumption, owing to restricted remain at £125,000, but deposits Bank-Noten lesund Average must fan. 45,00, the Federation. The Federation is purchasing power.

have fallen from £2,916,808 to in favour of an Empire preferential} No one nation can stop this pro- £2,623,859 as a natural consequence column appearing in the tariff scle-gressive deflation, because any one of the slackening of activity in Tala, dule of every Empire country.nation which attempted to increase international travel.

Where, however, constituent coun-its Currency in active circulation, tries are prepared to make special pay a reasonable price to primary is the high ratio of the cash assets A striking feature of the accounts Because, Bazarie, Bocals, London, a concessions, reciprocal in charac-producers, and raise the purchas- to liabilities to depositors, the 'pro-pean programmas are kindly sup-

ter, they should proceed by way of ing power of its people, would put portion being no less than 33 pc.plied by the Anderson Music Co. bilateral agreements, in view of the itself out of competition in world It is also noteworthy that invest-i varying proda and aptitudes of the markets.

ments -figuring on the balance-sheet units macht, Fup the Empire.

While no one nation can do it for $620,189 have been written Trade Mergers and Agreements. there is only one group of nations down to below market value out of

While the Twelfth Congress of sufficiently large and sufficiently the year's profits. the Federation of Chambers of self-contained, which could, and Commerce of the British Empire, that is the British Empire, repre-of British banks is of exceptional In these days, when the strength held in London in 1980, reiterated senting one quarter of the populaInterest, the liquid position of its conviction that a wide and well-tion of the world and containing world-wide firm like Cook's in their considered extension of the system within it all things necessary for capacity as bankers should enhance of Imperial Preferences would life.

Ketuar.

BRANCHES AND AORNOINS! JAPAN:-Toyka, Yokolace, Babe, Osaka, FORMOSAL,

Eurenko, Katong, Kanto. Binokiku, Tukku, Takne, Pammal, Toon, Heito, Tallo CHINA :---Shanghel, Hankow, may, Toockow,

Bestow, Canton. OITURES-Boog Log. Singapor Borabaya,

York, Dairen

LONDON BANKERS: Barclays Bank, Lid., Lloyda Bank, Lid., Midland Bank, Ltd., Westminster Bank, Ltd.

The Beak bar Complete In all she princijal Comanial Cauwes throughout the world.

K. NAQURA

Head Office: 65, Broadway, Now York.

Manager.

LONG KONO BHANCIL:

Den umur Road Central. Hong Kong. Dember $4,1001.

Reorganised October 28, 1928, under

Capital

special charter of The National Gov- arament as an

Burplus

INTERNATIONAL EXCHANGE

BANK.

Subscribed Capital .$25,000,000,00

Paki-Up Capital

Riserve Funda

.$24,710,200.00

..$ 3,820,500.82

BEAD OFFICE: SHANGHAL

HONG KONG BRANCH:

4. Queen's Road Central

Owing to our numerous branches in China and Large connections in the tmportant commercial centres of the world, wa mu able to extend to our alients special facilities for domestic

foreign banking and exchangea. We also handle the issue of Bonds and other Public Funds of the Chin are Government both at home and abrond.

Reserves

Amsterdam Latwary Athens EMZ

Berlin

Búarrita

Bombay

Brwoes

Brussels

Buenos Aires

Calro

Daluutto

Colombo

.17.9.$8,000,000 ...U.S.$1,572,454 .U.S.$1,908,209

BRANCHES:-

Giacos Glanger Hats Hamburg HAYTH

Interlaken Jerusal

Toulou Liverpool Lucerna Lapto IAZION

Constantinople Konta Caria Copenhagen Kanila Zdinburgh Mudich Porsace

Montreux Dear

Milan

Chan

Biow

Napl

Pir

Parla

Panas

Pubby

Yalactur

Botto Bum Stamboul Shanghai Southampton Stoppar AL arise *Locala

Valm Yokohama Zurich

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

SHOU J. CHEN,

All classes of Commercial Banking Manager. Tranzactions undertaken.

Hong Kong, 5th March, 1981.

THE YOKOHAMA SPECIE BANK, LIMITED.

Butablished 1880,

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

.Yen 110,200,000

Head Ofico:-YOKOHAHA.

Brunches and Aguscles at:

Alexandria

"Batavia

Berli

Bombay

Calentia

Canton

Changchun

Nagmaaki

Nagoya

Newchwang

New York

Osaka

Paris

Peiping

Dairen (Balny) Rangoon

Pengslen. (Mukden). Rio de Janeiro

***Bambura

Hankow

Harbin

Hope! Kong

Karachi

San Francisco

Seattle

Somerang

Shanghal Shimono hi Bingapore Всегабята Sydney Tisertain Tokyo :

allowed on Current

for

Personal handled.

investment MOCOTECA

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 Traval Department.

E. W. DUGGAN,

Manager.

FOR SALE.

Stanley Gibbon's

Postage Stamps

Catalogues

for 1932 Whole World ..... British Empire Foreign Countries

.$12.00 .$ 5.25 .$ 8.00

GRACA & CO. Dealers in Postage Stamps, Garden Seeds, Picture Books, Toys, etc., etc.

No. 10, WYNDHAM STREET, 10. Box No. 620. HONG KONG.

PLASONABLE

PRICES

· TORE KRSERPUNDE ENTERPRES

1.

A

the high prestige enjoyed · abroad

be found to be the most It would, of course, be essential, by British financial institutions. effective means of bringing about a greater measure of Im- perial economic cohesion, it never- theless recognised the value of trade mergers and agreements as a secondary movement.

It recommended that those en- gaged in the same industry in two countries of the Empire might, with advantage, meet with a view to the substitution of co-operation for competition in their respective ter- ritories. While it is recognised that the success. or otherwise of this movement would depend upon

CURRENCY AND COST

OF LIVING

DR. EISLER'S SYSTEM: EMPIRE TO LEAD.

Dr. Robert Eisler, the well-known "pegged" at a convenient level. In

the industries themselves, it is Austrian economist, expounded his each participating country, steps thought that much could be done system of currency reform at a would be taken to set up parallel by the Governments of the Empire meeting held on January 18 at the and proportionate expansion of to encourage such efforts to ration- School of Oriental Studies, Finsbury economic activities.

alise, if it were known that they Circus, E.C, under the auspices of He emphasised the importance of

the Silver Association.

regarded them favourably.

the expansion being proportionate, In certain cases meetings be The chair was taken by Mr. Clive because currency, could not be tween the representatives of the Baillies, who described Dr. Eisler's stabilised in the long run if there two industries might be initiated thesis as a challenge to the monetary was no economic equilibrium be- and held under the auspices of the experts of the world,

twean countries.- Governments concerned.

Dr. Eisler said his system was Under such a 'system unemploy ** Impérial Economic Staff. -founded on the establishment of an ment would gradually disappear, The subjects, which, as distinct expansible currency based on millions of money would be paid in from the foregoing appear to land variable cost of living index. He wages and subsequently expended in themselves to multilateral agree-claimed that by means of such a the markets, with the results that ment; "are the follows:-

system unemployment would dis prices would be raised and the in- The Twelfth Congress recognia- appear, trade would expand, and comes of many professional peo- ed, and the Federation, in its evid- salaries and wages would increase. ple and rentiers annihilated. Apart cncé bofore the Economic Section He maintained that the British| "It would be necessary to preservej of the Imperial Conference of 1930; Empire was strong enough to intro- the individual against this, and that

THE BANK OF EAST ASIA, LTD., that no co-ordinated duce such a system, supported, as it could be done by applying the

Established: 1918.

HEAD, OFFICE: .

10, Des Voeux- Road, Centra

HONG LO

Capital and Surplus Total Resources

over: H.S 8,000,000.00, over 'IL.530,000,000.68

Every desaription of Banking and Exchange businasa transacted...

** Corrent and Fized Deposi" Accounts in local and for- eign, surrencies, opened for cliente,

Barings Account and Safe Deposit Boxes, Branches and Ageantes all over the world.

KAN

and farsighted plan of develop would be, by certain other countries method invented by Englishmen ment for the Empire could have the which would desire to come in at overseas in 1747 in the Mas- least prospect of success if it were the commencement, and in his view machusetts Bay Colony, who institut- liable to dislocation at every change the immmediate result would be thated what was actually a system of of government in any part of the the affiliated countries would be money based on a cost-of-living Empire, deterjan diffe able to expand their exports almost index NIKA .........The Federation therefore recom- at will, and that countries outside. If it was decided to adopt such a mended that ad Imperial General the afiliated group would be un-systent, it would only be necessary Economic Staff should be met up to able to export anything to any coun- to pass a short law in the British work out a co-ordinated plan of try within the group, with the re- and Dominion': Parliaments, es- development and that an agreement sult that such countries would be tablishing, the monet. unft of should" bo - ruached between His unable to stand the strain for tired currency for the United Majesty sy! Governments Bat:

and would be compelled to and the Empire in the

economic action likely to affect

rest, would be taken by

without frst | obtaini

sidered opinion of the Gezará]

Economie Staff in which ahonidőbe made availa

which would be a Bank?

note équivalent

tion grainstor

ment:

8 pm-Local Time.

8.05-11.30. pm—Relay from the

Ko Shing Theatre.

11.30 pm-Close Down.

All records in the above Euro-

COMING SHORTLY TO THE KING'S

A Lover by Dapa At Night a

JERYO

HYDE

Fredric March Miciam Hoplius

Rose Hobart

♫ Favimciort Pictur

PHOTO-SUPPLIES

Kodak and Cameras, Films, Plates and Papers, etc. Developing, Printing and Kalarging.

ZIESS and BUSCH FIELD GLASSES. Price Moderate.

CO.