1932-03-11 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorized Ospital -

+$30,000,000

Ived and Folly Peldu 0,000,000 Berre Fends--

lingerie

6,500.004 $10,000,000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

THE CHINA MAIL.

THE HO HONG BANK, LTD.

(Ertablished 1917.)

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

Incorporated by Royal Charter, 1858. Reserve Liabilition

Authorland Capital Straits $20,000,000 Issued Capital Paid-up Capital

8,000,000

4,000,000

HEAD OFFICE: LONDON.

of Stareholders Surple

4,000,000

2,687,000

Paid-up Capital

Reserve Fund

Reservo Liablilty of Pro-

priators

.£3,000,000 £4,000,000 £3,000,000

Branches, Agencies and Correspon- dents in the principal cities of the world.

Every description of Banking and Exchange business transacted.

TAN ENG HOOL

1

Manager.

ALOR BAH

AMUTHAN

1. A., Plummer, Esq.

Beurre Clability of Proprietore ......... $30,006,000

HEAD OFFICE: HONG KONG.

BOARD OF DIRECTORS:-

Hoa. Mr. J. J. Patersons, Chairs.

T. E. Peuzme, Reg.

J. A. Bell, Tag:

Deputy Chairman.

... Compton, Esq.

T. . . Bhaw, aq.

Hon. Mr. 0. 0. 8. Maskin. 3. P. Warren, Eaç.

Lê, Einkl, X

V. K. Omyburn, Esq.

Chist Manager,

BRANCHER :-

LONDON

LYONS

MALACCA

MANILA

MUAR (Jekor)

AMOT

BANGKOK

HATAVIA BOMBAY

CALCUTTA CANTON

CHE700

COLONDO

FOOCHOW HAIPHONG NAMBUNG

BANKOW

HUNDEN

NEW YORK

PENANG

RANGOON

SAIGON

SAN FRANCISCO

DAMEN

PRIPING

HANUMAI

HARDIN

RINGAPORE

HONGKE

HOURABYA

1.4ILO

RUNGEI PATANI

TPOR

JOHORE

IODS

IOWLCON

KUALA LUMPUR

TIENTSIN

TOKTO

THINDI AO YOKOHAMA

Durrent Ancounte opened in Loval Curren

Fiz Dapoelie received for one year or shorter periods in Leal Currency and eling sa terme whlob will be quoted on application, Hong Kong, 17th February, 1932.

HONG KONG SAVINGS BANK.

The Balones of the above Bash is conducted by the HONG SONG AND SHANGHAI BANK ING CORPORATION. Ruto may be obtained on application.

FOR THE HONGKONG AND REANOUAL BANKING DORPORATION.

9. M. GRATIVAN,

Chiat Maongue.

Hong Kong, th February, 1932.

THE BANK OF CANTON, LTD.

Established 1912,

Head Office: Hong Kong.

Auskaried Captial (II.K. Currency) ...#1,000,000 ...... 6,064.000 1,100,000

Pald-Up Capital .................

Basarri Fand inanerentia

BRANCHES:-

Oraton. Shaghal,

Bwslow,

Kanke Bangkok, New York and San Francisco.

LONDON BANIERA :—

The Lloyd's Bank, Limitad. COBRESPONDENTS

In all pelanipal vltime of the World.

For Exchangé sad banking bartones of

stery description Transnoted.

Tale Deposit Boxes feurioue viene) si s prač)y

rental at from 15 to 840,

LOOK POONG SHAN,

Chlet Manager.

Agenclo and Branches:

ΒΑΝΟΣΟΣ

BATAVIA

BOMBAY

KUCKING

MADRAS

MANILA

MEDAN

OLLOUTTA ΟΑΝΤΟΝ CAWNPORE OERO

NEW YORK

PETING (Plug)

PENANG

MANGOON

COLOMBO DAIREN DELII

HAIPHONG

HAMBURU

HANXOW

HARMIN

TIONO LONG

IPOT

SAIGON REMARANO KERENDAN SHANGHAI SINGPORE SITIAWAN SOURABAYA TAIPING

TIENTSIN

TOKTO

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Surplus and

Undivided Profits U.S.$225,347,466.11

Branches in:-

LONDON

PANAMA

ILOILO

ARGENTINE

KABACH1

TONORAH (Bbikoa))

BELGIUM

MEXICO

KLANO

TSINGTAO

BRAZIL

EDOR

YOKOHAMA

CHILE

PERU

KUALA KANGSAR

ZAÄNDANGA

EUALA LUMPUN

Foreign Exchange

вла

General HA

Banking business transacted.

CHINA COLOMBIA. CUBA

PHILIPPINE

ISLANDS

PORTO RICO

DOMINICAN

STRAITS

REPUBLIC

INDIA ITALY JAPAN

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.

(NETHERLANDA TRADINO SOCIETY)

BANKERS.

Extabilshod 1824.

Hong Kong OM-1, Guna's Bond Central.

Authorised Capital. Qulders 150,000,000. Paid-Up Capital Guitars 80,180,000- Beserta Pued... Oulidura $0.018,000.

Head Of AMSTERDAM”

Eastern Head OM:~HATAVIA,

Branch Bandjarmasin,

Bandoeog

Bombay, Diamber, Calcutta, Charlboo,

Djok Jakarta, The Hague", JiddNA, Kobe, Makassar, Medan, Palmberg, Fika- lango, Prag. Bag, Balterdam*, Sarkag, Shanghai, Bluesporn, Bowen bai, Boerakaria (Solo), Tegal,. Tjilating and Wattorreder

• Those office bave Bala Deposit Botas io Lat

LONDON BANEERS 1--

NATIONAL PROVINCIAL BANK LTD.

Correspondants all over the world. Banking Buad- Dess of every description transacted.

6. STOKKINK.

Hong Kong, December, 1991.

THE

Manager.

AMERICAN EXPRESS COMPANY.

.U.S.$6,000,000 ...Š.$1,572,454

U.S.$1,908,209

the Bank.

Commerce and

Finance.

BARCLAYS

BANK,

LTD.

EXCERPTS FROM THE CHAIRMAN'S ADDRESS.

Profit and Loss German Debts.

I.

FRIDAY, MARCH 11, 1932.

£5,000,000 BARTER SCHEME.

Empire Trade in Practice.

CANADIAN TIMBER FOR BRITISH COAL.

A projected order for something like 450,000 standards of Russian softwoods at approximately $10 10%! per standard is about to be abandon- ed by the British purchasers .con- cerned in the Interests of Imperial trade.

The buying corporation,

WATER RETURN.

All Reservoirs But

One Below Level.

The level and storage of water in. the reservoirs on March 1, 1932, werd as under:-

City and Hill District.

1981 1932 24'11" 15 "B Tytam Tytam Byewash... 28' 2" 2411"B Tytam Intermediate 86' 3"E 37 8"B Tytam Tuk

Wong Nei Chung Pokfulum Aberdeen Upper Aberdeen Lower .**

32" 1"B 33' 8"B

24 6 3 21 7B 21 0"B 19' "B 27' 6"B

[Note: B. denotes "Below Over Low" A. denotes "Above Overflow": L. denotes "Level with Overflow.")

Storage Ju millions and decimala

of Fallon 931

Tytam On the occasion of the Bank's of the outlay has been added to the which had been promoted to secure Tytam Byewash ... on premises account, and a substan- supplies, proposes to look to Canada Tytam Intermediate annual general meeting held January 21 in London, Mr. F. C. tial portion has been written off instead of Russia for its purchase, Tytam Tuk ....... out of profits. We have also added says the Industrial Correspondent Wong Nei Chung. Goodenough, presiding, said:

to the premises. account the cost of the Daily Telegraph.

Pokfulum.****

Aberdeen Lower ...

per

1932

205.31 265.04

49.47 754,58

,73 40.10

727.68

6.03

8.81

·

22.50

25.06

60.20

1031 1932 201.34 238.00* 382,250

21.5

*Includes 1.56 million gallons from Mainland.

February, 1931-From February 1

to 28 a constant streat fountain supply

operated in all Rider Main Dis

Was

tricts excepting 8 days (15th-17th) in- clusive when a Full Supply was given on account of Chinese New Year.

February, 1932-From February 1

Profit & Loss Account. As you will see from the report of the freehold of certain other This transfer of an order to the Aberdeen Upper and Profit and loss account in your portions of our Head Office pre value of nearly £5,000,000 la con- hands, the net profit for the year mises, which we considered it additional upon suitable arrangements Total 1,03879 1,140,22 Consumption of water in the City ended December 31 last amounted visable to purchase, and it is our being made with the Dominion for to £1,794,825 48. to which has to intention shortly to rebuild on these the acceptance of British coal in and Hill District in millions and de- cimals of gallons during the month be added the sum of £559,363 12s. 6d. portions. Some of this rebuilding exchange for the timber. If agree of February, 1932. brought forward from the preceding will be paid for out of profits and ment is reached, the exchange of

to be the balance will be added in due commodities would furnish a most Consumption SETTLEMENTS8 year, making a total sum URUGUAY

dealt with of £2,354,188 168. 6d. course to the premises account, valuable instance of Imperial com- Estimated population 456,620

Consumption VENEZUELA During the first half of the year, which will therefore show a further mercial enterprise.

head per day.... 15.9 the profit earned by the Bank was increase at the end of this year. At present Canada takes between Commercial and Travollers' Lotters of Credits, Travellors Cheques, Bills somewhat low figure, but in the Our Head Office premises stand in 900,000 and 1,000,000 tons of Bri- of Exchange and Cable Transfers latter half, the position in that res-our books at a safe figure, and the tish coal annually, mainly Welsh bought and sold. Current accounts peet was more satisfactory. This premises account, taken as a whole, anthracite. She buys. however, and Savings Bank accounts opened

2 very conservative twelve times that quantity from the and Fixed Deposits in local and for-has enabled us, after providing out represent

United States. eign currencies taken at rates that of the profits of the year for all valuation.".

The shareholders will realize may be ascertained on application to debts considered to be doubtful and

The deal, if it is concluded, will not already fully provided for in from what I have just said and also be on the principle of barter. For lo 29 a constant street fountain sup- We are also able to offer our Cus-previous years, to make an addition from my remarks on previous oc- purposes of exchange, values will ply was operated in all Rider Main tomers the services of the Branches of £200,000 to our Contingency Ac-casiona. that in addition to setting have to be worked out on a money Districts excepting 3 days (4th-8th) of the International Banking Cor-; poration in Spain and also of The count and at the same time to main-aside to Investment Reserve Ac-basis, but only goods will pass be- inclusive when a Full Supply was given on account of Chinese New National City Bank of New York tain our Dividend. The Directors count special profits of the charac- tween the contracting parties.

Year. (France), S.A., in Päris and. Nice. declared interim dividends of 10'ter which I have mentioned, we also, Timely Ald For Shipping.

per cent, per annum on the "A" constantly make transfers out of Price difficulties are mutual and R. M. MCLAY,

for the Kowloon Main Manager. shares and 14 per cent. per annum the ordinary banking profits for the will require adjustment, Hong Kong, March 1, 1982.

on the "B" and "C" shares, less purpose of creating reserves to meet, United States can take the Canadian, Kowieon Byewash income tax, for the half-year ended bad and doubtful debts and other coal market at prices which it

It is, of course, most difficult for British producers THE BANK OF TAIWAN, LTD. in June last, and they now recom-contingencies.

mend to the shareholders the, pay-understood that dividends can only to equal. America has the advan- (TAIWAN GINKO.)

ment of final dividends at the same be paid out of the profits of the year tage of proximity and low costs of rates on the respective classes of after making provision for losses production. On the other hand, shares. Out of the profits for the and depreciation out of profits or British timber importers who have Kowloon Main year, therefore, after making these reserves. I think that it will be looked to Russia for their supplies Kowloon Byewash 9.40

Pri whether Canada Shok Lai appropriations, there remains a ba- agreed that many of the assets of entertain doubts

Reservoir lance of £565,950 0s. 6d. to be carri- Bank are liable to fluctuate in can supply at Russian prices.

Shing Mun Recep- Bank Noten insued Average amount Yen. 45,000,000 ed forward, which a slightly more value with the credit of its custom- A coalowner with whom I dis-

tion than the amount brought in fromers, and, in the case of investments, eussed

· possibility, said Eenluat.! 1980. Taking the results of the with market conditions, so that it the business projected was so help-

Consumption of water in Kowloon year as a whole, I think that the is essential that a Bank should ful to the interests of the Empire in mililons and decimals of gallons Haskow, Aney, Pechow, shareholders will feel that these build up and maintain strong re- that it was worth infinite pains to during the month of February, 1832. OTHERS-Hong Kong Bingapons, Bahaya, have been very satisfactory, and serves. I feel confident that the accomplish. By the extension of

they would have been even better, shareholders will fully endorse the the barter system of coal for tim-Consumption

117,54 131.47 but for the need of making large policy which the directors have, ber, British coal exports to Canada Estimated population 179,140 296.500 provision for doubtful accounts. consistently maintained, both in could be quadrupled, and the St. All debts known to be bad have regard to dividends and also re-Lawrence ports developed to solve Tim Bank has Correspondents in all the principal been written off, either out of the serves, which policy, I venture to the shipment difficulties that might

HEAD OFFICE:-Taipeh, Formosa.

Incorporated by Special Imperial

Charter, 1890,

Central Bank in Formosa,

DRANCHES AND AGENCIES; JAPAN-Toyke, Yokohama, Kabw, Oasin.

Karoke, FORMOSA :-Oro, Xagh

Mahong, Nesto, Shachiku, Talcka, Talună, Takno, Tamui, Town, Halto, Taito. OKINA-Shanghai,

Bestow, Canion.

Semarang, Batavia, Bombay, Loadou, New York. Bataan,

LONDON BANKERS: Barclays Bank, Lid., Lloyds Bank, Ltd.,

Midland Bank, Žid., Westminster Bank, Lid.

Commercial Contras throughout the world.

FOR SALE.

INC.

THE BANK OF CHINA. 行銀國中

K. NAGUBA.

Manager.

Head Office:-65, Broadway, New York.

HONG KONG FRANCE;

8. De Faux Road Central. Stag Song Decembar 24, 1981,

special charter of The National Gov- erament as an

Reorganised October 26, 1928, under

Capital

Surplus

Reserves

INTERNATIONAL EXCHANGE

BANK.

BRANCHES:-

Subscribed Capital

.$25,000,000.00

Paid-Up Capital

.$24,710,200.00

$8,920,503.82

Amsterdam Antwerp Achana Beals

Gnom

Glasgow

Nice Napien

Havo

Berlin

Biarrit

Bombay

Brussala Buenos Aires

Bamburg Harre Interlaken Jerusal Lido London Liverpool

Pizkaus Paris

Penang

Faking

Palerme,

Rotterda

Rama

Stamboul

Cairo

Lucerne

Calovits

Lugano

Cannes Colombo

Luzor

Reserve Funda

BEAD OFFICE: SHANGHAL

HONG KONG BRANCH:

4, Queen's Road Central.

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

We also handle the face of Bonds

Constantinopla Monte Carlo

Copenhage

Edinburgh Flormar Подета

Poils

Munich

Montreux Milan

لسفي حماة

Bouthampton Binpare Bi. Morit Mantain

VivaLa

Vasice

Takebana. Zericb

Branches of American Express Com- and other Public Fads of the Chin-pany in Principal cities of United

see Government both at home and States of America and Canada. abroad.

SHOU J. CHEN,

All classes of Commercial Banking Manager.Transactions undertaken.

Hong Kong, 5th Marah, 1981.

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880,

Personal handled.

Investment Bccounts

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

Capital (ɗully paid-up) Yen 100,000,000 | Department.

Reserve Fund

Yen 117,300,000

Head Office:-YOKOHAMA.

Branches and Agencles at:

Alexandria

Baturis

¿Berlio

Bombay

Calcutta

Canton

"Changchun

Dairen (Dalny)

Nagnanki

Nagoya Nowchwang New York Osaka Peiping Rangoon

Fenghien (Mukien) Rio de Janeiro

Hamburg

Harbin

Hankow

Francisco Seattle

Hops Kong Honolula

Singapore

Karachi

Kobe

London

Los Angeles

Sourabaya

Bydney Tientain

*Tokyo

Tsingtan Interest allowed on Current A:"

Depozita zeceived Zor fired periode at ratha to be obtained on application.

H. MORI

Manager

Hong Kong, 11th March, 1982.

E. W. DUGGAN,

Manager.

THE BANK

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, P.O. Box No. 60. HONG KONG

The German Debts.

the

Kowloon.

1931 14' 0"

1032 14' "B 50' 4"B

Shek Lai Pui

Reservoir

5' 7" 11' 1"B Shing Mun Recep-

tion

11' "B

L. Storage in millions and decimala of gallons,

1931

1082

292.00

210,96 88.33

· 94.50

75.32

€.20

33.15

332.72 300.76

Total

Consumption per

1981

1982

15.8

head per day 23.4 The reports of the Government Bac- teriologist and Analyst show that the quality of the water is satisfactory.

Total rainfall recorded by Royal Such an exchange of goods over Observatory from January 1 to the Atlantic would furnish a great February 28, 1931, 87; from Janitary and timely service to the shipping 1 to February 29, 1982, 2.535. industry also.

profits earned during the past year, think, has fully justified itself in arise. or out of profits which had been the difficult times through which we set aside in previous years to pro- are now passing. vide for the debts now written off,

I wish to refer, at this stage of which were then considered to be: doubtful, and, in addition, all debts my remarks, to the German debts, now considered to be doubtful have in which we, in common with other been amply provided for.

Banks all over the world, are in- terested. We hold certain treasury Bank bills issued by two of the States in

The investments of the

YOKOHAMA SPECIE BANK.

At the 104th half-yearly ordin-

|HONG KONG HEIGHTS

For the information of visitors stand in the Balance Sheet at or Germany, where we have importantry general meeting of the share- the following list of some of the below their

holders of the Yokohama Specie ghest points on the Island and market price onbanking connections.

These bills Bank held on the 10th inat., a net Mainland is published: December 31 last, full provision for will certainly, in our opinion, be

Island. depreciation having been made out paid, although the repayment will profit of Yen 10,977,876.67 was} of the Investment Reserve Account.he delayed, owing to the difficulty of shown. Including Yen 5,637,930.46 Victoria Peak After a set-back in February, there obtaining the necessary foreign ex-was resolved to make the follow- Mt Parker

carried over from last account. It Signal Station was a substantial rise during the change, which is one of the chief ing allocations:- early part of the year in the market problems of the Reichsbank at the To Reserve Fund ....Y. 1,100,000.00 The Eyrie

of 10. per cent. p..

(for the half-year ended De- cember 81, 1931)... To be carried forward to next account....

price of British Government securl- ties and gilt-edged investments present time. In addition to these Dividend

bills, we have granted accommoda- generally, largely as the result of tion on ordinary banking lines to the low rates then prevailing for

some of the leading German Banks) money, and this gave us a large un-and to a few private firms for trade realised margin between the market

purposes between the two countries. value and the book value of

There is apparently an idea that the Our holdings. In the latter

Banks in this country have lent, the part of

year, owing to

large sums of money to Germany for sales which took place from abroad and to the altered monetary condi-purposes of development of one sart-or another and often unwisely. tions, there was a heavy decline in I do not think that auch is the case. these securities, and a depreciation So far as we ourselves are concern- between the book value and

ed with the exception of the tres- the then market value of our

Bury

bills mentioned, all our This depreciation,

advances are granted solely for! have already

RELIABLE PRINTING investment.

no order 1oo small

THE NEWSPAPER ENTERPRING LTD. ENINA · MASI BLIN. T NA WERRIARE 1999.

OF EAST ASIA, LTD.

Established 1915.

HEAD OFFICE:

10, Des Voeux Road, Central. HONG KONG

Capital and Surplus

Total Resources

over. H$ 8,000,000:00 ***** over. H.$80,000,000.0# Every description of Banking and Exchange búsinsta transacted.

Current and Fixed Depoal Accounts in local and for- (afga (currencies opened für olients,

Bavings Account and Safe Deposit Boxes, Branches and Agencies all over the work

KAN TONG PO

SU

I

Feet.

1828

1774

1784

Mountain Lodge

1725

1725

Peak Hotel

1805

Talkoo Sanatorium Mt. Davis

1000

871

6,000,000.00

4,877,870.87

Talmorkan Y.10,977,876,67 Kowloos Peak

Bowen Road (fiKerbede)

Mainland

297

Feet.

·9124. 1971

MANCHESTER WEEKLY MARKET

REPORT

India, Messrs. James F. Hutton & Co., booked. stated,nancing trade. We feel confident

enquiry has has been met out of Investment

again included cloths which have that these debts should he Ltd., reports that: Reserve Account, to which we have

regarded as good, and that they will There has been little change in been neglected for a long time and credited for many years past thei

this is generally regarded as B be liquidated in due course as soon the general outlook during the good sign There have been one profits realised on sales of Invest-

as the exchange difficulties have week. ments from time to time, as well as been overcome, whatever may be the little firmer but there is no evi developments are slow, although in Prices are if anything or two enquiries for prints but profits on maturing bonds as they result of the forthcoming negotia-dence of any marked change in the some instances business is consider- were paid off. The shareholders tions in regard to German War near future. will recollect that in the years Debts. Should, however, the Germained steady and price fluctua-mained quiet, while Calcutta has Sterling has re-ed likely to develop, Bombay has re- 1925 and 1926 we added substan- tial amounts to the Reserve Fund man position turn out badly, which tions have been within narrow submitted a number of offers for we do not anticipate, then, besides limits. The strike, over the more dhooties and fancies, but at rates

out of Investment Reserve Account.

I will now refer to the premises our reserve fund, we have other looms per weaver system in the which are at present too low to be stands in the substantial surplus reserves suth Burnley area began during the attractive, The Near East and account, which balance sheet at the sum of £6,749,- clent to meet any contingency that week, but up to the present has not Egypt have been very quiet, what 681 18. 1Ud., being an increase of might occur.

£429,484 188. 10d. as compared with

a year ago. This increase is due

to the acquisition of now premises

In many. lopalities, chiefy in and

"MERCANTILE:BANK.

assumed the importance, that seem-little onquiry there has been being jed probable a month ago. Twelve for small lots of printing and mils in all have been closed down, bloaching cloths. West Africa has but the effect on the market has not enquired for heavy goods and it is been very serious. There has been generally anticipated that business

around London, where we have At the annual general meeting of a fair amount of enquiry abroad will result The Improvement in found it necessary to open new the shareholders of the Mercantile during the past few days, and al- South American, demand has been branches for the purpose of follow Bank of India, Etd., a final dividend though developments in the Shang-maintained, and fair enquiries have ing the development of business in of 5 per cent. on the "A"; "B", and hai area have effectively stopped been received for finishing cloths, those parts. It also includes a por "C" shares will be declared (mak-demand from China, other markets poplins and sateens. With the tion of the cost to date of the al-Ing 12 per cent. for the year less have shown rather more interest. exception of - Holland and Scan- terations and extensions now, being Income-tax): 410,000 written off There has been affair demaad dinavia, the Continent has been made to our Head Office buildings, Landed and House Property; for light bleaching cloths from vary quiet, whilst the Home Trade to which I referred in my speech to £167,000 (čárried forward to 1982 both Karachi and Madras, section, though not brisk, nas done and several lines have been business in calicoes and sheetings. the shareholders a year ago, Part account