1932-04-19 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING* CORPORATION.

Autherland - Capital

Imed and Fully Paid-up Kaserra Funds |--

£1,500,0 $6,000.com

#linz

Bilvm

· 650,500,000

Becerro Liability of Proprietor -..... 190,300,shg

EINAD OFFICE, DONG KONG,

BS OF DIB ROTORS -

Mou. Mr. J. J. Pharaon.

Ühairman.

T. X. Paarov, Esq.

Dove Chairmas.

Hon. Mr. W. It. Boll. J. . Plummer, Ing.,

a. Comptes, Bag, T. H. B. Bhaw, Hag. M.T.Jahawna. Kan.

D. Miskia, Esq.

CANTON

J. P. Farron, Bog.

.

V. M. Graybura, Beq.

Ohio! Mesager

BRANCHE:

LONDON

LTONS

MALACCA

AMOT

BANGKOK BATAVIA

BOMBAY BALOUTTA

DEEPOO OULOMDO

DAIKEN FOGOKOW

MATHONG

MANILA

MUAR Johore)

MUKDEN

NEW YORK

PEIPING

PERANO

BAIGON

FAN TRANO1800

SHANGHAI

FINBUBO

RANKOW

HABBIN

BONOKEY

ILOILO

IPOR

JOHOR

#OBE

KOWLOON

KUALA LUMPUR

HANGOON

SINGAPOBE

SOUBABYA

SUNGEI PATANI

TIENTBIN

TOKYO

TRINGTAO TOKOHAMA

Cara Aula speold in Lool Currency and Fixed Deposita esired for one year of shorter periode la Local Correner and Berling berma which will be quoted on application. Hong Kong, 5th April, 1932.

HONG KONG SAVINGS BANK.

·

The Basis of the above Mask la soudunted HONG KONG AND BHANGHAT BANK- TNG DORPORATION. Buss may be obtained

losion.

FOR THE HONGKONO AND BHANDWAT BANKING OORPORATION.

Y. M. GRAYBURN,

Chiat Manager.

Hong Kong, 17th February, 1932.

THE BANK OF CANTON, LTD.

Established 1912.

Bead Office: Hong Kong

Kikorian Caplis! (H.K. Ourensy)

P25-Op Cmplti

$11.000,008 2,100,000

Beserva Fusi

BEANCHES:-

Denton, Shanghai, Baakow, Seston, Bangkok, New York and Sea Fransimon:

LONDON BANKERS;—

The Lloyd's Bank, Limbad, DORRESPONDENTE

In all prisipel cition of the World.

Fordy Exchange and banking busina ol

svay Lawription Irosscted.

Hala Dapol Boxes (various sizes) at a guarly

machal of from si to $48.

LOOK POONG SHAN,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

THE HO HONG BANK, LTD..

(Established 1917.)

HEAD OFFICE:~~BINGAPORE. Hong Kong Branch: 13, Queen's Rd. C.

Authorland Capital 8trafta $20,000,000 Issued Capital Paid-up Capital ...

+

8,000,000

4,000,000

of Shareholders. Surplum

4,000,000

2,687,000

Incorporated by Royal Charter, 1883. Reserve Liabilities

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve. Fund

Reserve Liability of

Pro-

prietors.....

£8,000,000 | .£3,000,000

£3,000,000

ALOR HIAB

Agencies and Branches:

ДИНІТНАЯ BANGKOK. BATAVIA BOMBAY CALCUTTA CANTON

CAWNPORE CEBU

COLOMBO

DELRI

HAIPHONG

KUCHING

MADRAH MANILA

MEDAN

NEW YORK

PEPING [Peking) PENAKO

KANGOON

Branchos, Agencies and CorrorDON- dents in the principal cities of the world.

Every description of Banking and. Exchange business transacted.

TAN ENG HOOL

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55. Wall Street, NEW YORK.

Capital, Surplus and

Branches in:-

ARGENTINE BELGIUM

SAIGON

NEMARANG

SEREMBAN

KAMBUSO

BUANGHAI

BANKOW

SINGPORE

HABRIN

HITIAWAN

HONG KONG

SOURABAYA

ILOILO

TAIPINO

ΠΡΟΣ

TIENTHIN

KARACHI

TONGKAH (Dh-shot}

ELANO

TS/NOTAD

KORE

YOKOHAMA

BRAZIL

CHILE

CHINA

CUBA DOMINICAN

REPUBLIC

INDIA ITALY JAPAN

KUALA KANGSAR ZAMBOANGA

KUALA LUMPUR

LONDON MEXICO PANAMA PERU

THE CHINA MAIL.

and

Commerce

Finance

The Mercantile Bank of India.

(Continued from Page 8.)

though

TUESDAY, APRIL 19, 1932.

H.K. BANK TO PAY £2,550?

BANKRUPT CLERK'S provision could be made subject to

SHARE OF PROVIDENT FUND.

4 to 1 Ratio.

"LEGAL WAY TO GET THE MONEY."

the over-riding principle that the Court could not deprive any man- of his power of earning a living unless the creditors could offer the bankrupt an equally advantageous position elsewhere.

The clerk was drawing a salary of about $400 a month and it was a very fine salary, even for a clerk with 20 years' service. Mr. Taylor continued. He said. It was voluntary trust, as there was no compulsion on the clerk to enter the Fund.

3

The Bank's Attitude. "The attitude of the Bank is

What the

been able to cut down our ex- view of the low prices for rubber Manager penses, to a level more in propor- and tin. As to Burma and Siam,

tion with the profits of the last prospects for rice seem to be a' The possibility of the Hong two years. But it is not only for little brighter,

due to Kong & Shanghai Bank having to meeting us so readily and help smaller crops, resulting in some pay $2,550 10s. 6d. to the Official ing us to reduce our expenses that improvement in prices, the estimat-Assignee was contained in a mat- our thanks are due to the Staff, ed surplus for export from Burmajter which came up before Me that the Official Assignee cannot but also for their devotion to and being 2,700,000 tons, and that from Justice Cobbett in the Bankruptcy compel them to pay even the £500 unceasing work in the interests Siam only 900,000 tons. The posl. Court, Singapore, on April 8, when as long as the clerk remains in of the Bank during a year carry- tion in the Dutch East Indies Mr. E. N. Taylor, assistant Official their service," Mr. Taylor proceed- Undivided Profits U.S.$225,347,465.11 ing with it exceptional difficul- where, as I have said, the currency Assignee, who appeared on behalf ed, but that is not disputed in ties and problems. (Hear, hear). is attached to gold shows no sign of the Official Assignee, made an this case because they have given On behalf of the Board, there- of improvement, and dependa mainly application for a motion to that him this loan, and whatever their fore, take this opportunity of upon the price of sugar and rubber. Jeffect on the ground that that position may be so to the Pro- saying how much we appreciate In China the trouble with Japan, sum belonged to a bankrupt clerk vident Fund, they are entitled to thesistance we have received particularly at Shanghai, where in the Bank named H. E. Cordeiro, prove for this loan. PHILIPPINE

from Mr. Steuart, Mr. Crichton Japan is fighting for her trade, that sum having been entered to Bank has done in this case is that, ISLANDS

and Mr. Linton, who I know have gives great anxiety, although at his credit in the Provident Fund without admitting anything, it has PORTO RICO

in turn been ably supported by the moment there is a cessation of run by that Bank. STRAITS

said. 'We are prepared to concede It was stated by Mr. Taylor that that the Official Assignee can have SETTLEMENTS the Accountants and those in | hostilities, which I hope will prove URUGUAY charge of other departments at permanent. The fluctuations. In the attitude of the Bank was that Afth of the clerk's sum in the VENEZUELA the Head Office, while our thanks the price of silver and the un- the Official Assignee could not Fund but we claim to set it off. are due also to the Managers, Ac-settled internal conditions in China compel them to pay even £800 as There is no authority, in my sub- Commercial and Travellers' Lotters

Assistants and the continue seriously to restrict trade long as the clerk was in their em- mission, for that splitting. I say of Gredits, Travellers' Cheques, Bill Countants, of Exchange and Cable Transfers local Staff at the branches and with that country, (Applause.)

ploy. the £500 being the actual the Bank is a trustee of the whole' bought and sold. Current accounts particularly to those serving us Well, ladies and gentlemen, that sum contributed by the bankrupt, sum

in this case. In point of . and Savings Bank accounts opened at Shanghai, where conditions re is the Chairman's speech, and the ratio of contribution to the fact, this £510 28. 1d. is not the and Fixed Deposits in local and for cently have been both difficult before putting the first resolu- fund by the Bank and the clerk aggregate of the clerk's contribu- may be ascertained on application to and dangerous. (Applause), tion to you I will be glad to hear being in the nature of 4-1 respec- tions, as it is not separately be-

if anyone wants to ask any ques- tively.

counted for in the books, tions. (A pause). If there are Mr. V. D. Knowles appeared for Bank simply took the total and no questions it is now my plea- the creditor of the bankrupt and divided it by five." sant duty to propose: "That the Mr. C. H. Smith for the Bank. In answer to a question from his In the present instance, Mr. Lordship. Mr. Taylor said that the

and General COLOMBIA

Foreign Exchange Banking business transacted.

Current Accounts opened and Fix-

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

J. STUART,

Manager.

Hong Kong, 11th April, 1932.

NEDERLANDSCHE HANDEL. MAATSCHAPPIJ, N.V.

[NETHERLANDS TRADING SOCIETT)

BANKERS.

Eriabilabed 1824. Hona Kone Ore:-11, Queen's Road Cuotra

Authorised Capita).............. Guliders 250,000,000. Paid-Up Capital Guld 80,00,000- Beserve Fund

Had

Oulider 40,018,008-

AMSTERDAM",

Eastern Head 0500:-----BATAVIA. Branches:-Bandjermasin, Beadorag*, Bombay.

Celmutte, Cheribou, Damber. Djok jakeria", The Hagus, Jiddah, Kabe. Makassar, Medan, Palumbang: Paks longs, Panang. Rangoon, Rotterdam*, Hamamng. Shanghai, Sarapore, Souza hala, Boerakarta (Solo), Tegs). Tilatjup and Weltevreden”.

• Those show have Sale Deposit Boxas to Lab.

LONDON BANKERS:-

NATIONAL PROVINCIAL BANE LTD.

Correspondate all over the world. Barking Busi. tead of avazy descripilon tesosACIOS.

A. STOKKINE,

Hong Kong, tel December, 1981,

THE

Manager.

Chief Manager. | AMERICAN EXPRESS COMPANY,

THE BANK OF CHINA.

行銀國中

.U.S.$6,000,000 .U.8.$1,572,454 - US.$1,908,209

elgn currencies taken at rates that

the Bank.

We are also able to offer our Cus tomers the services of the. Branches) of the International Banking Cor- poration in Spain and also of The National City Bank of New York (France), 9.Ă., in Paris and Nice. R. M. 'MCLAY,

Manager. Hong Kong, March 1, 1992.

(TAIWAN GINKO.)

HEAD OFFICE:-Taipeh, Formosa.

Incorporated by Special Imperial Charter, 1899.

OUTLOOK FOR THE CURRENT YEAR,

tion is more abnormal

report of the Directors with the

The

Audited Statement of Accounts Taylor said, the Bank was extra-books in the head office of the and Balance Sheet at 31st Decem-ordinarily generous and contribut-company in Hong Kong contained ber, 1981, presented to this meet-ed four times the amount an em- a personal account for each clerk. At this time last year I did not ing, be and the same are here-ployee contributed to the Provid. It did not show the separate con- take an optimistic view of the out- by received, approved and adoptent Fund and placed that amount tributions but only the total. He THE BANK OF TAIWAN, LTD. look for the year then before us, ed, and that a final dividend on was that no employee of the Banking chief accountant of the Bank to his credit. The arrangement [referred to a letter from the act- but I ventured to say I thought we the "A," "B" and "C" Shares ofj had arrived at a convalescent stage, this Bank of 5 per cent. be paid, bute. He was not eligible to join beg to inform you that the balance was under any pressure to contri-to the bankrupt which read: "We and unfortunately in this I was making 12 per cent. for the year, somewhat premature as the situa- less Income Tax, as recommend the fund before he had done five standing to your credit in the ac-

than ever, ed in the report, and the same is years' service. The terms were 80 count of the Provident Fund and with so many financial and hereby confirmed."

generous that practically every this date amounts to £2,560 and international problems still to be Bank-Nato issued Avaraga account... 45.000,00 yolved it is impossible to form any will kindly second that.

I will ask Mr. Chalmers if he clerk who was eligible to join did that is the aggregate of both con-

reliable opinion of the future course of events. But we can at least congratulate ourselves upon the amoy. Fosebow, fact that, in this country, we have OTHERS: Hong Kong. Slagapore, Sorsby, gurvived the crisis of the past year Semarang Betaria, Daubay. London. Now better than other countries by rea- son of the sturdy character of our

Central Bank in Formoen,

BRANCHES AND AGENCIES: JAPAN :—Toyko, Yokohama, Babe, Osaka, FORMOSA :-Girsa, Karl Karvaks. Boun

Makong, Nanta. Bhinchiku, Taichu, TalDON, Takso, Tamini, Town, rito, Telta. CHINA-Shaghai,, Haskow,

Bwalow, Canton.

York, Dairea.

LUNDON BANKERS:

Belaya Book, Lid., Lards Bank, Ltd.. Midland Pack, Lid, Westminster Bank, Lid.

The Bank has Correspondents to all the principal Commercial Coutta thmughout the world. K. NADERA.

HONG KONG BRANCH:

J. Vaux Road Coutea). Hong Kong. Docersbar M. 1981.

INC.

Head Office:-65, Broadway, New York.

Reorganised October 26, 1928, under

Capital

special charter of The National Gov- arament as an

Surplus

Reserves

BANK.

BRANCHES:-

Subscribed Capital

.$25,000,000.00

Amsterdam

Gene

Niow

Paid-Up Capital

.$24,710,200,00

Reserve Funds

.$ 8,820,603.82

Aci Albe

Bezle

Glasgow

ẢO ĐÚNG

F

Havana

Kamburg

Pleasu Paria

Harre

Interlaken

Parand Paking

Po.

1

INTERNATIONAL EXCHANGE

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 centras of the world, we are able to extend to our cleats special facilities for domestic and foreign banking and exchanges.

We also handle the issue of Bonds and other Pablic Funds of the Chin ene Government both at home and abroad.

SHOU J. CHEN,

Manager. Hong Kong, 5th March, 1981.

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880.

Capital (fully paid-up) Yen 100,000,000 Reserve Fund ........Yen 117,800,000

Head Office—YOKOHAMA.

Branches and Agencies at:

Alexandria

Nagasaki

Newchwang

Batavia

Nagoya

Beriln

Bombay Calcutta

New York.

Qinka

Paria

Peiping

(Dalny)

Rangoon

Hamburg

Hankow

Kong

#angtien (Maiden) Rio de Janeiro

Harbin

Hong

Honolula Karachl Kobe

„Londor

Los Angeles

San Francisco

Beattle

Bemarang Shanghai ghimonoseki. Singapore Sourabaya

Bydney Tientsin flakyo

Taustau * Interest allowed on: Current As-

Deponite received for fired periods

að ratas to be obtained om application.

́HL. MOKU):

Hong Kong, 11th March, 1932;

Balle Biarritz

Bombay

Breman

Brutals

Liponon Kiras

Cairo Calmitta

Jerusalem Lide Londas

Liverpool Lucarba Lugano

LILIDE

Cate Colourbo

Hell Corienteople Moute Cerk

Maalla Copenhagene

Edinburgh Muoleb

Florenom Quota

Mamta

10lan

Fistlerin Rome

Stamboul Ranaghai Southampto

Bingspor

1. Boris

Xion Lea

Vienna

Vinton Yokohama Zurich

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

All classes of Commercial Banking Transactions undertaken.

Personal Investment handled.

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

E. W. DUGGAN,

Manager.

Manager.

UNCLAIMED TELEGRAMS.

Perrias, from Shanghai.

Mr. P. R. Chalmers: I have much pleasure in seconding the resolution.

30.

OD

tributions." The bankrupt joined the bank The fact that the Bank continu- 1918, and at present the con-ed to hold the money itself instead tribution by the Bank, itself was of transferring the fund to some. meeting and carried unanimous-Taylor went on, the Bank granted acted in the character of a trustee. The resolution was put to the £2,040 while the bankrupt's pay-body else to hold for the benefit ments totalled £500. In 1927, Mr. of all concerned, showed that it ly,

u loan to the bankrupt, and the His Lordship would see that it was The Chairman: It is now my amount of this at the date of the almost unquestionable that the people and their willing response duty to propose the following re-receiving order was $5,800 Straits Bank was the trustee of the money when called upon to hear the burden solution: "That Mr. J. M. Ryrie of heavy taxation.

currency. We have had and Mr. C. J. Hambro, the Diree- No Discretionary Powers by Bank. The Bank could not claim that which the bankrupt himself paid. no banking failures and there has tors retiring from the Board in been no hoarding. But, while the rotation, be and are hereby re- that transaction constituted an en- his salary to it for 18 years, it . He contended that the effect of after he had paid five per cent. of National Government have already elected Directors of this Bank." done much in the direction of In proposing that resolution, had constituted itself a trustee for eumstances.

forceable trust, and that the Bank was entitled to keep it in any cir balancing the Budget, correcting the ladies and gentlemen, it gives me the bankrupt in respect of that balance of payments and defending great pleasure, because you all um. He would try to show that

If Bank Went Into Liquidation. the pound sterling. they cannot know, as I have explained in the it was a trust, and his Lordship moment that the Hong Kong Bank "If your Lordship assumes for a The following unclaimed tere alone bring us prosperity until the preliminary remarks I make at could then judge under what head was going into liquidation, the grams are lying at the Eastern Ex-trade of the world recovers and the beginning of this meeting, the trust came. The attitude of liquidator knowing nothing about' tension Telegraph Co.'s office:-

there is a marked improvement in the devoted work that Mr. Ryrie the Bank, he understood, was that the matter, would have no author...

The change in our gives to the Bank, and in Mr. the directors Dekatangelino, passenger, Ram-the price level,

admitted they were ity to do this division into five," fiscal policy by. the introduction of Hambro I am sure you know that trustees but they claimed a discre- he proceeded. "The liquidator of pura, from Shanghai.

W. F. Fincher, from Melbourne the Import Duties Bill is admitted- we have a colleague in whom we tion as to when they would pay the Hong Kong Bank would take ly an experiment the effects of have the utmost confidence and He understood them to claim that over the assets and he would take Mr. and Mrs. W. Greenbaum, which have yet to be seen, but, like whose advice and assistance is of it was

a discretionary trust, but over this account, and supposing the suspension of the Gold Stan- the greatest value to the Direc- he contended that, in the circum-there was no deficiency the liquida- Peninsula Hotel, from Iloilo.

dard, this may be said to have been tors. (Hear, hear.) I therefore stances, they had no discretion to tor would be a trustee for each of forced upon us and if it only results have pleasure in proposing the hold the money from the Official these clerke for the whole of the in restoring a favourable balance of resolution as read out to you, Assignee. trade and raising revenue we shall and I will ask Mr. Shelford to se-

The bankrupt was still in thei Mr. Knowles said he supported have cause for satisfaction. But cond it.

employ of the-Bank. There was Mr. Taylor, but he thought they even then there will be many inter- Mr. W: H. Shelford: I beg to legal way in which the creditors should not concern themselves The following unclaimed tele national questions outstanding, the second the resolution.

could get the money. He did not solely is lying at the office of settlement of which will take time,!

to the question of trust, The motion was unanimously think there was any question that strong though that might be. The the Great Northern Telegraph and until the balance between pro- approved

the money would be paid to the Сотраду (Limited) of Den duction and consumption is restored

The Chairman: The next reso-bankrupt if he was dismissed, ex-bankrupt had a claim to the money only question was whether the

mark:-

by the liquidation of the existing lution. Jadies and gentlemen, is cept in, circumstances where there or not, because any claim that the... Silverlead, from Kobe.

large stocks of many primary pro- that of the appointment of the was a defalcation. If the bank-bankrupt had would fall into the ducts. I am afraid we cannot look Auditors, and I would very much rupt resigned, he could also get the F. V. JENSEN, for the essential rise in prices gen- the hall to propose that resolu-

like someone from the body of money.

power of the Official Assignee. Superintendent. erally, the free exchange of goods

The contract between the bank. It was open to the Official Asrupt and the Bank about their res- Hong Kong, April 13, 1982..

and the restoration of confidence. tion.

signee under his statutory powerspective contributions to the Fund It is too much to hope for a can- Mr. J. Mitchell: I beg to pro-to require the bankrupt to do any was clear. It was a continuing cellation of Reparations and War pose: "That Messrs. Cooper act which was necessary for the contract. It the Bank got a sum Debts as the result of the coming Brothers and Company and security of his assets and the Off-of money from the bankrupt, the Conference at Lausanne, but a revi- Messrs, W. A. Browne and Com-cial Assignee could certainly order latter had performed his share of sion of these to correspond with the many be re-appointed Auditors of the bankrupt to resign. But as a the contract, and the Bank would price level would clear the air, while the Bank, and that their remu- matter of practice that statutory then be liable

to pay the extra if there is to be a measure of credit neration be 300 guineas each for

four shares. expansion and a better use made of each audit.'

Mr. R. G. Bamford: I beg to ture we shall see better times, and bankrupt had in the fund, which

other Banks. I hope in the fu- gold in America arising from legis-{

The present interest which the lation in that country, this would be second that proposition,

then I have no doubt the Board was only subject to a future date helpful all round, provided there is The resolution was unanimous will make the most of their op- for payment, was one which was по uncontrolled Inflation.

ly adopted. Of

portunities. Will somebody se vested in the Official Assignee. If Endla it can be said there has been The Chairman: Well, ladies cond the vote of thanks?

that was so then they were entitl-

C. C. CLARKE,

Manager.

Hong Kong, April 14, 1982.

gram

QUALITY PRINTING With Quick Service

THE NEWSPAPER ENTERPRIOR LYD, ДНА МАЛ

SA WYNDHAM ST.

amount."

THE BANK OF EAST ASIA, LTD. Improvement in the economic and gentlemen, I think that con- Mr. F. G. Jones: I have plea-ed to come to Court and obtain an

Established 1918.

HEAD OFFICE:

10. Des Voeux Rond, Centrul. TONG TONE.

Capital and Surplus .......................................... over H* 8,008,869.08 Total Basource ----.......... over EL.880,000,660.68 Every description of Banking and Exchange business transacted.

Current-and-Fired Dapost. Accountă la local and for- sign currencies opened for clients.

Bavings Account and Sate Deponit · Hozes."

and Arutles all over the world.

KAN TONG PO,

Chief Manage,

the world and above

He aug-

position since the suspension of the cludes the business of the meet- sure in seconding the motion. order that the Bank should not Gold Standard and the resulting ing and I thank you for the pa- The vote was unanimously ac part with that interest except as large exports of gold but, like other tient manner in which you have corded.

directed by the Court. agricultural countries, India re-listened to ma.

The Chairman: Mr. Gourju, gested that the order should be quires a revival of trade throughout Mr. P. E Gourja: May Laug ladies and gentlemen, I beg to that the Fund was to be paid over

ali a cessa-gest that we pass a hearty vote thank you very much for the to the Official Assignee. tion of political disturbances. Money of thanks to the Chairman and cordial vote of thanks which you The further hearing WAE conditions in London and India are to the Board of Directors. Of have fassed, and I can assure journed until April 11.—Straits now easier than they have been course, it was quite a shock to you that in the current year we Times. for a long time, "and" give☞ reason the Shareholders when they shall endeavour to continue to for_hope_that, 1982 may see some heard of the reduction in divi work as we have done in the revival" in, trade, but unfortunately dend, and must have brought past so that when we hold our conditions In Central Europe are home to everybody the excep-next meeting we may merit the still far from stable; and one would -tional difficulties with which the same confidence as you have er- Messrs. A. Goska & Co., local have to be an optimist indeed to Directors have had to contend, pressed in us in past years. (Ap agents for the Societe Internation- prophesy at the present time, but we are pleased to see that plause).

TLD: CERTIFICATES.

ale de Placementa, Baula, advise,

There is no sign of improvement the results shown are quite good The proceedings then terminus that the latest official quotation in conditions in British Malays In as compared with those of many ated.

In Buols is 42-12-3.