1932-04-15 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Atherton Capital $98,800,000 Yurusd and Faily Paid-up

- 19,001,BON- Beer Funde-

ling...

£ 1,140,300 1.000.000

Moporre Edability of Proprietors a $30,000, 108

BRAD OPTION1 HONG KONG,

M OF DIRECTORS › —

Mon. Mr. J. 3. Pularios.

Chelmaa.

T. B. Pasco, Bog Deputy Chairman.

Het Mr.-W. II. Bell, J. & Plantrone, Esq.

1.

Gerapion, Esq. M.T. Jahuova Rey,

Q, Miskin, Esq.

AMOT

BANGKOK

BATAVIA

BOMBAY

CALOUTTA

CANTON

DERWOO COLOMBO

DAIREX POOOHOW

.HAIPHONG

HIBURO HANKOW

HARBIN

HONGKEW

ΤΟΠΟ

LO

JOHOR

кова

KOWLOON

T. H. . Khaw,' -Mog.

1. P. Warren, Mog.

V. M. Dragbara, Rog.

BRAVOKEL-

KUALA LUMPUR

LONDON

ITONE

MALACCA

MUAR (Jebore)

MUIDEN

NEW YORK

PRIPING

PEKARO MANGOON

9&10ON

SAN FRAKOIBOO

HANGHAI

SINGAPORE

ROUBABY&

SUNDEI PATANI TIBKTSIN

TOKYO

TSINGTAO YOKOHAMA

Current Acounte opened in Local Currency and Pized Deposits and for DB TURI DE shorter periode la Lonai Currency and Merling * terms which will be enstad on application.

Hong Kong, 5th April, 1932.

HONG KONG SAVINGS BANK.

The Business of the above Bank le conducted by the HONG KONG AND BUANOFIAT DANK- ING CORPORATION. Bu's may be obtainsł

POE THE HONGKONG AND BILANGHAI BANKING CORPORATION.

.. M. GRAYBURN,

Chist Manager.

Hong Kong, 27th February, 1932.

THE BANK OF CANTON, LTD.

Established 1912.

Hoad Once:-Hong Kong. Authorised Capital (H.K. Darrency) ... 31,000,000 Pan-Up Ospital uncom

B,425,000 1,190,000 Homerto Pažd a

BRANCHES —

Canton, Eksarial, Haukow, Swalow, Bangkok, New York and Bau Fest200

- LONDON BANKERS —

The Lloyd's Bank, Limited.

CORRESPONDENTS **

Ea il princiani tikina of the World.

Foreign Enoksage and banking bandem of

amsey Sonription framesone.

Bale Deposit Boxes {racious sites) së a 2007ly

-saial at tro 35 to $4.

LOOK POONG SHAN,

Chief Manager.

.

THE CHARTERED BANK OF

INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, `1858.

HEAD OFFICE: LONDON.

Paid-up Capital

Roserve Fund

Reserve Liability of Pro-

prietors

..£3,000,000 .23,000,000

...£3,000,000

Agencies and Branches:

ALOR 87AN

AMRITSAR

KUOTING

MADRAS

MANILA

MEDAN

BAROKOK BATAVIA

BOMBAY

CALCUTTA DANTON CAWNPORE CEBU

COLOMBO

KAIPHONG

-УРОН

NEW YORK

PEPING (Pilog

PENANG BANGODN

THE HO HONG BANK,

(Established 1917.)

THE CHINA MAIL.

HEAD OFFICR:-SINGAPORE. Hong Kong Branek: 13, Quoon's Rd. C.

Authorised Capitál Straits $20,000,000 Issued Capital .......... Paid-up Capital...

Resurrs Liabilities

of Shareholdern Burplus

19

8,800,000

4,000,000

$,000,000

1,687,000

Branches, Agencies and Corrasyon- dents to the principal cities of" the world.

Every description of Banking and Exchange buzlaase transacted.

TAN ENG HOOL,

· Manager

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Surplus and

Undivided Profts U.S.$225,347,486.11

Branches In

ARGENTINE --

HAIGON

DELHI

BEMARANG

SEREMBAN

HAMBURG

BEANOMAI

ELANKOW

SINOPORE

HARDIN

SETIAWAN

∙HONG KONG

SOHRABAYA

ILOILO

TAIPINO

TIKSTSIN

KARACHI

TONUKAR (Nauket) **

ALANG

TRINOTAO

BELGIUM

RODR

YOKOHAMA

BRAZIL

KUALA XANOBAM

ZAMBOANGA

CHILE

KUALA LUMPUR

CHINA.

Foreign Exchange and

General COLOMBIA

CUBA

REPUBLIC

INDIA

Banking business transacted.

Current Accounts opened and Fix-DOMINICAN

ed Deposits received for one year or shorter perioda at rates which will be quoted on application.

J. STUART,

•Manager.

Hong Kong, 11th April, 1932.

NEDERLANDSCHE HANDEL. MAATSCHAPPLI, N.V.

(NETHERLANDS TRADING 800IETY:

BANKERS.

Betablished INNA.

Hung Hoan Offs:-11, Quwa's Boad Central.

www.agian.cm

Authorland Capital Quilders 110,000,000. Peld-Up Capital Guillers 15,000,000. Beserve Fund

Quilder 10,015,600-

Chacibon,

End Offer :-AMSTERDAM”, Extern Hand Office:-BATAVIA Branchen-Bandjarmasin. Bandoseg*. Bombay,

Osloota

Djmber, D

Makonder Madan, Palambang. Pok longis, Penang, Bangoon, Rotterdam", Semarang, Shingbel, Blarepors, Bost bula, Sowkarin (Solo), Tagi!, Tlming and Weltevredex",

Thase oflose here Sala Dagonit Boren to Zak,

LONDON BANKERS

NATIONAL PROVINCIAL, BANK LTD.

Correspondence all over the world. Basklos Busi. sesa of every déecciphím irannasted.

4. STOKKINK,

Bong Kong, 1st December, 1931, '

MYA AS

Manager.

AMERICAN EXPRESS COMPANY.

U.S.$8,000,000

.... U.S.$1,072,454 .U.S.$1,908,209

INC.

THE BANK OF CHINA.

行銀國中

Head Office:-65, Broadway, New York.

special charter of The National Gov.

Reorganised Optober 26, 1928, under

Capital

Surplus

srement as an

Reserves

INTERNATIONAL EXCHANGE

BANE.

Amsterdam

Pald-Up Capital ....

$24,710,200.00

Athos

..... 3,820,503,82

Beau

Bacon

lasgow Harana Hamburg

Si

Naples Pleas Parle

Berlin

Biarritz

HEAD OFFICE: ŞHANGIAL

Bombay

Dettan

Brumala

HONG KONG BRANCH:

Esimene Airge

Cairo Cal

Barro Interlake Jerusalem Aldo Loudon Liverpool Lucerne Lugano

Padang

Paling Filerior

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

Baserve Funds",

4. Queen's Road Central.

Owing to our numerous branchés in China and large connections in the Supértant commercial centres of the world, we are able to extend to our cilenta speciál facilities for domestic and foreign banking and exchanges,

We aina handle the issue of Bonds and, other Pablle Funds of the Chin ese Government both at home and abroad.

8800 J. CHEN,

Manager.

Hong Kong, 5th March, 1981.

THE YOKOHAMA SPECIE BANK, LIMITED.

Bátablished 1880.

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

Yen 117,800,000

Head Office,—YOKOHAMA.

Alexandría

Batavia

Berlin

-Bombay Calcutta Canton

Changchun

Седам Cotorabo

BRANCHES :-

LAILOT Marnell Coualestinopla Wonta Carin

Copenhagen Mazlla

Edinborgh Floroos

Muniok Montreux

Klan

Rotterdam Botos Stambol 84b Southampton Blog,Sore Bt. Martha

Zlatain

Vanna

·Vakine Tokohama Zurick

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

All classes of Commercial Banking- Transactions undertaken.

Personal bandied.

Investment secounts

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

M. W. DUGGAN,

Manager.

LONDON

MEXICO

PANAMA

PERU

PHILIPPINE

ISLANDS

PORTO RICO

STRAITS

and

Commerce

Finance

Local Import Merchants' Meeting

TRADE TAX DEMAND.

Unanimous Opinion Against Guilds' Levies

MEMBERS URGED NOT TO PAY

FRIDAY, APRIL 15, 1932.

and we said to the Importer, "You

He said: 1 would suggest that may add any other conditions you this meeting leaves it to the Cham- like, but your contract should at ber of Commerce to appoint a small least contain the Chamber's basic and experienced committee to carry | conditions.”.

out the actual revision of the Con- Not only was the Chamber's tract, with authority to consult all Standard Form accepted by the interests concerned, as well as to local Merchants and Importers but take legal advice. Importers them. after protracted negotiations the selves, I understand, are aware of general terms were also accepted three or four detalla in respect of by the Manchester, Bradford and which the present contract could, other Chambers, and what are now from their point of view, be im- known and accepted universally, as proved, and they would like it to "China Contract Terms" are cover all textiles, and, as far as thoroughly understood.

possible, to be brought into close The Question of Terms. agreement with the "China. Con- Obviously a merchant must buy, tract" of the Manchester and and sell on the same terms; that Bradford Chambers. Importera la to say, ba can't give to his buyer will then be selling on the same all sorts of concessions or different terms as those on which they buy conditions, which are unobtainable We shall hope to have the benefit from his supplier, unless of course of the views of the Piece Goods he calculates his additional risks Guild and of the Chinese Chamber and charges accordingly. There of Commerce as to the amendments fore I say, Gentlemen, that standard of the existing contract which are terms, which are universally ae desirable from their point of view, cepted by the trade are of the and shall do our best to meet them. highest possible value, and form Finally, it is to be hoped that an the only satisfactory basls on agreed date for the coming into which a large trade can be success force of a revised contract will be fully maintained.

mutually agreed by Importers and The Chamber of Com-

A general meeting of all Import Merchants in the Colony, sum SETTLEMENTS moned by the General Chamber of Commerce, was held in the Chartered Bank Bullding yesterday afternoon and was largely

URUGUAY VENEZUELA

ITALY JAPAN

Commercial and Travellers' Letters of Grodits, Travellers' Cheques, Bill of Exchange and Cable Transfers bought and sold. Current accounts

and Savings Bank accounts opened and Fixed Deposits in local and for- eign currencies taken at rates that may be ascertained on application to the Bank.

We are also able to offer our Cus tomiers the services of the Branches of the International Banking Cor- poration in Spain and also of The National City Bank of New York (France), S.A., in Paris and -Nice. R. M. MCLAY,

Manager. Hong Kong, March 1, 1932.

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

HEAD OFFICE:-Taipek, Formosa.

Incorporated by Special Imperial Charter, 1899.

Central Bank in Portnosk, Bank-Notes issued Amage amount ... Tan. 15,000,000 BRANCHES AND AGENOISE: JAPAN :—Toyka, Yokohama, Hobe, Osaka. FORMOSA-Qiran, Eagi. Karenko, El

Wakoną. Nak Back Talca, Taina

Takao, Tamesi, Toen, Raito, Telto 01IINA-Shanghal, Hankow, Amor,

Bow, Chatou.

Poochow

attended.

I think I can say without fear the Guild.

of contradiction that the Chamber's merce will keep merchants informed Standard Form of Contract has and they will be asked to attend been a boon both to Merchant Im- meeting later on porters as well as to their Clients, otherwise, the contract as revised. and has proved a hardship to none. Meanwhile, I would urge all concern

to approve, or

The object of the meeting, which was under the chairmanship! do not say that it la perfect, but, ed to continue to trade on the termus of the Hon. Mr. W. H. Bell, was to consider matters of general im- portance to trade, arising out of certain demands which have been made by the Chinese Piece Goods Guild and other Guilds.

The proceedings were marked by complete unanimity of opinion on the matters discussed, and three important resolutions were passed. The Chairman was supported at the meeting by Mr. Wong Kwong-tin, Chairman of the Chinese General Chamber of Commerce,

CONTRACT FORM DENOUNCED.

I daresay that a

we are ready at any time, when of the present standard contract, reasonable suggestions are made because revision must necessarily for improvement, to consider them. take some time. The Manchester The contract now put forward by and Bradford Chambers, for the Chinese Piece Goods Guild is example, will need to be consulted not reasonable. We do not know ou some points. who are chiefly responsible for In seconding, Mr. Wong Kwong- these recent demands, but we have tin said: every reason to believe that many, I have much pleasure in second- dealers are not in favour, and in ing the resolution which has just some cases are actively opposed to been proposed. the proposals. Nevertheless its contract of 10 years old may not issue has disorganised the tride be suitable now, and consequently for the past week or ten days and may require some changes, but it ¡Guild was crying out before it was entirely unnecessary losses have must be quid pro quo to be fair and This meeting has been called, as hurt, so far as British and Con- been sustained by both Importers just and be acceptable by both sides.

and Dealers. our notice states, in order to give tinental goods were concerned.

{Hear, Hear.) you an opportunity to consider and

The Sundries Guild,

I understand that the Piece Gooda The next item was an intimation discuss matters of general im portance to the Import Trade of the from The Po Yick Commercial As Chamber is to protect and promote of trading and I am glad to learn Gentlemen, the function of this Guild earnestly desires certâln modifications in the present method Colony, arising out of certain de sociation, or Sundries Guild, that honest and profitable trading for that Importers have every desire to mands which have recently been they had passed a similar resolu- all, and I feel we would be lacking meet them in a friendly discussion put forward by the Chinese Piece tion to that of the Plece Goods in our duty if we did not take a Goods Guild and other Guilds. Gulid, but

As Chairman of were alightly more strong stand against destructive of their views. The first demand of the Piece moderate in their ideas and only action by the Local Guilds the Chinese Chamber of Commerce, Goods Guild was, in effect, that required that one-half per

I can assure the General Chamber notwithstanding anything which should be "rebated and set aside

cent (Applause.)

and Importers generally of the With these remarks, Gentlemen, hearty co-operation in these negotia might be written to the contrary, as remuneration to the staffs of I will proceed with the first of tions of the body over which I have

The Chairman said:—

The Chamber's Function.

OTHERS-Hong Xcag. Singapore, Souzabays, in any contract, a levy of one per our members... uniformly as three Resolutions which are before the honour, to preside. (Loud Ap-

Bemarang Balaria, Bombay, Landen. New cent. would be payable to the Guild from March. 15."

York, Dairan.

LONDON_BANKERS:

Ziedigolays Bank, Ltd., Lloyds Bank, Ltd.

Midland Bank, Ltd., Westminster Bank, Ltd. The Bank bas Cornetpondents in all the principal

Commercial Centres throughout" the world. E. NAGURA,

HONG KONG BRANCH

Мисера.

3. De Varex Road Centre), Hong Kong. December 21, 1683,

Just Received.

YVERT ET TELLIER

POSTAGE STAMP

CATALOGUE

FOR

>

1932

At $6 Each.

GRACA &

Co

Dealers in Porlage Biamps, Religious Goods, Pictorial Post Cards,

Toys, clin

No. 10, WYNDHAM STREFT, P.O. Box No. 620.

The Chamber you, and after "the proposal bas

or its members on all business en-has replied to this in similar terms, been seconded, it will be open för tered into after a certain date but pointing out that on certain discussion. I beg to propose~~~ (January 15). It was understood indent business which is worked "That that this levy, which would amdunt on a bare 2 per cent commission to something like $700,000 per an-basis it is not practicable to allow num in the aggregate would be discounts on fixed sterling prices, divided among the shop fokis, but and therefore the Chamber was ad naturally the Importer was not vising its members to decline to concerned with its appropriation. concede the request and moreover To this the Chamber replied that use the protective clause which I the question of a discount was en- quoted just now.

tracts."

The Burden of Taxation.

an-

this representative meeting of Importers is un. animously of opinion that the Form of Contract put forward. by the Chinese Pleca Goods Guild is totally unsuitable and unacceptable to the trade, and that

the present Standard Form of Fancy Plecs Goods Contract will be adhered to and remain the only accepted basis of future transactions until amended by general consent."

I can

plause.)

Discussion being invited, the Hen. Mr. J. J. Paterson said: There is one point which occura to me. I think we might very well send in a full report of these pro- ceedings and of all that led up to them, to the Colonial Secretary. It cannot do any harm and it may prevent the Government from 'get- ting a somewhat distorted story: there is always that danger.

There are certain things about. the proposed new contract which really rather amaze me, and one.

45

tirely a matter of price-fixing be- To-day we have before us a new tween buyer and seller, and if any Piece Goods Contract which is dealer whether a Guild Member seriously put forward through a or not-wished prices quoted sub-local firm of Solicitors, who ject to a discount of one per cent,nounce that the Piece Goods Guild Mr. J. A. Plummer, Chairman is the last clause, whereby in a or 50 per cent, there could be no ob-have decided for themselves the of the Plece Goods Sub-Committee British Colony, under British law, jection, but that any discount must terms on which the Piece Goods of the Chamber, said:

it is suggested that, there being be definitely agreed beforehand and Trade of the Colony is to be con- I rise to formally second the Re-two texts, one British and the stated in the contract. We further ducted henceforth.

We are not solution which you have just heard other Chinese the Chinese text advised all our members to clauso even in courtesy asked to approve proposed and In doing so

shall rule. That strikes me their contracts to the effect that-it, but merely to suggest a con- safely say that I fully concur with quite an extraordinary thing in a

"Sellers will not be bound by venient date for its being brought, all our Chairman has said.

place which is a British Colony any conditions, rebates, or any into force! You have no doubt The Guild has not asked us to "and not a satrapy of China. ⠀⠀ (Ap- other matters which are not ex-seen that contract, Gentlemen, and consider their proposals or rather plause.) pressly contained in their con-11 am sure you will agree that the demands, but we are expected, to The Chairman said that Mr. terms are totally unacceptable.' awallow the contract whole. The Paterson's suggestion would be

Increased Levy On Blankets, Guild moreover seems to be under

adopted... I would like to suggest here,

That then, Gentlemen, is briefly the impression that it can, by simple The Chairman, in moving the The resolution was then carried. Gentlemen, that trade both within the position to date, excepting that Resolution of its members, make as well as without the Colony is the Sundries Guild have since passévies, and impose conditions, which third resolution, said it would not HONG KONG already sufficiently burdened with ed a further resolution" increas- must of necessity be accepted by the be necessary to speak to it as he taxation, to render the imposition ing the levy on certain goods trade and I feel that this meeting opening remarks. The resolution had covered it very fully in his of an additional one per cent a Blankets to wit-from one-half per should impress upon them strongly matter of general, I might almost cent to one per cent. Next month that they do not possess any such say of world-wide importance, since the rates may be increased, we arbitrary powers. No reasonably this would constitute a charge, on don't know! "

minded merchant or dealer desires the Colony's trade which could” bej Now I want to tell you briefly a one-sided contract, and I have the avolded by taking your business something of the history and origin, best reason for believing that a direct to Canton or other Ching of the Chamber's Standard Form of very large member of dealers do not Ports. If local Chinese dealers Fancy Piece Goods Contract. Some favour the proposed Innovations, wish to benefit their Guilds or fokis of you will doubtless remember the but realise, that they are Impracti- to the extent of one percent on circumstances, but it will do no cable and unsound. their turnover it must be for them harm to refresh our memories. I have no hesitation therefore in selves to decide, but if business This Contract was really the direct asking you to support this resolu-ure that Importers would fully thereby, goes past them, they. are outcome of a request by Chinese tion, which I hope will be passed endorse its terms: in particular to blame,bo

Merchants to unify the terms of animously and without discussion, they would deplore the action of No doubt some members of the sale. They complained that come The resolution which follows will the Po Tick Guild in presenting Guild think in demanding this tax Importers' contracts had as many give you ample scope for expressing its demande. He contended that ASIA, LTD. they are taking one per cent, from clauses and conditions as a pre- any opinions you may have regard-such levies were entirely wrong in what they imagine to be the Im-sent-day Bill of Lading, whilst ing the Gulid's Contract or any principle. The object of these ex porters" "handsome" proft, and do others were practically devoid of modlication of the Chamber's Stan-

Bring Your PRINTING

- Problèming to US

·ERSE. SERWSPAPER | INTEMPSTEAN. LTD. ́MUSTIKA MAIL MENG EA, MYROMAN STA

Newchwang New York

THE BANK OF EAST

(Dainy)

Rangoon

HEAT

San Francisco

Hankow

Harbin

was

THAT this general meeting of Importers deplores the recent action of certain Local Guilds in endeavouring to enforce Teries on the Import Trade of the Colorly and strongly recommends all Merchants to resist payment wherever possible.

Mr. J. Owen Hughes seconded. the resolution. He said he felt

Hot for a moment realise that they any conditions whatever. They dard form, and as Chairman of the porters, but he, for one, very much tions in no way concerned Im-" [aré merely taxing the trade, produced certain Contracts contain- P/Goods Sub-Committee. I

The next communication which ing about 20 to 50 alrerent clauses greatly welcome

objected to perpetuating a system

the Chamber "réceived

|quent to bring pressu

members

Jeni

on

focal and for

the

and conditions,” and others with full expression

Its none at all

beg to peca

the Cif

dra

of trading, which was entirely allen

views:

to British methods.

Intion.

(Continued on Page 3.)-

the

13.D. CERTIFICATES