1932-04-25 — Page 2

LOX

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Aetherland Capital

lmand and Fully Paid-upremaman 19,800,000 Becerra Fundez-

Fleeting

---------$68,800,000

☎ 4,500,000 $18,000.DEN

Biserve Liablilty of Proprietors ... 831,900,000

HEAD OFFICE, HONG KONG,

BAJÉ OF DIRECTORS: —

Mon. Mr. X, J. Paterson. Chairman,

T. 2. 06. Esq.

Deputy Chairman.

Hed. Mr. W. I. Ball,

2. E. Complex, Esq.

M. T. Jonaven, Man, 4. Miskin, Erz,'

AMOT

BANGIOK

BATAVIA

BOMALY

OLLOUTTA

CANTON

GEEFOO

COLOMBO

DAIBEN FOOCHOW JAIPHONG

HONOKEY

HAMBURG

HANKOW

HARDIN

ILOILO

JOBURN

Кови

(POM

KOWLOON

7. A. Flammer, Mag:

7. H. B. Shaw, Boq.

J. P. Waz, Big.

V. M. Grayburn, Eag

Chief Manag

BRANCHES-

KUALA LUMPUR

LONDON

&TONA

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

THE HO HONG BANK, LTD.

(BatabHaked 1917.) :

"HEAD OFFICE:SINGAPORE: Hong Kong Branch: '18, Queen's R&, G.

Authorised Capital. Straits $20,000,000 - Issued Capital

Incorporated by Royal Charter, 1858. Reserve Liabilities

HEAD OFFICE: LONDON.

Paid-up Capital

Resorve Fund

Reserve Liability of

Pro-

prietors

Paid-up Capital

of Shareholders. Eurplus .................

H

THE CHINA MAIL.

Commerce and Finance

8,000,000

4,000,000

4,000,000

1,687,000

THE WORKERS.

Branches, Agencies and Corrospek- .£3,000,000 seats in the principal cities of the

£3,000,000 world,

Evary description of Banking and ↑ £3,000,000 | Exchange business transacted.

TAN ENG HOOL

Agencies and Branches:

ALOR UTAR

ANFITUAR

BANGKOK BATAVIA BOMBAY DALCUTTA

CANTON DAWNPORE CEPU

COLOMBO DELRI

HAIPHONG

KUCHING

MADRAS

MANILA

NEDAN

NEW YORK,

PETING (Ping!

PENANG

Manager.

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Sarplus and

RANDOON

NATOON

SEMARANG

REHEMBAN

HAMBURG

SANDRAI

KLANKOW

HING PORE

MALACCA

BARBIN

HITIAWAN

MANILA

HONG KONO

SQUBADAYA

ILOILO

TAIPING

MUAB (Jshare!

(POH

TIENTAIN

КАРАСПЕ

TONOKAR (Bhuket)

KLANO

TRINGTAO

ROBE

YDROHAMA

BRAZIL

KUALA KANGSAR ZAMDA NA

KUALA LUMPUR

CHILE

CHINA

CUBA

MUKDEN

NEW YOBL

PRIPING

PENANG

RANGDON

HAIGON

SAN PRANCISCO

SHANGHAI

SINGAPORE

BOURABYA

SUNGRI PATAMI TIENTSIN

TOKYO

THINGTAO

TOKOHAMA

Current Aconuta opened in Local Currency and Pized Expoalie received for one your of shorter periods in. Loosi Currenty and Sterllog su semo which will be quated an applicatioa.

Hong Kong, 5th April, 1932.

HONG KONG SAVINGS BANK.

The Business of the shors Bans la conducted by the HONG KONG AND MULYOHAI BANK. ING CORPORATION. Ewe may be obtained in nypčiostion.

FOR THE HONGKONG AND BHANGHAI BANKING CORPORATION.

V. M. GRAYBURN,

Oldal Manager.

Hong Kong, 27th February, 1933.

THE BANK OF CANTON, LTD.

Established 1912.

Head Office:-Hong Kong,

Authorised Capital (I.K. Currency} ---#X1,000,000

Meserve Fund an

BRANOKES:-

DARE DOR EMO.CO

Canton, Bhanghel, Haskow, Selow. Bangkok, New York and San Francisco.

LONDON BANKERS |—

The Lloyd's Bank, Limited. CORRESPONDENTI

In el péincipal dilles of the World,

Foreign Exchangs and banking bominen

every description Ersassoted.

Deposit Boxas (various sinoa) 41 8 JAAFİY

math of hoa to trên

LOOK POONG SHAN,

Chief Hanager.

THE BANK OF CHINA.

行銀國中

Reorganised October 26, 1928, under

special charter of The National Gov-

ernment sa an

INTERNATIONAL EXCHANGE

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

Branches in:-

ARGENTINE BELGIUM

LONDON

MEXICO PANAMA PERU PHILIPPINE ISLANDS

Purchasing Power Wrongly-Applied.

MR. RUNCIMAN'S VIEW.

Britain Command: The

SITUATION.

MONDAY,

WORLD TRADE

IN 1931.

Comparison of Chief Countries.

The Board of Trade Journal published on March 3, gives parti- culars of last year's trade of coun- tries which in 1929 represented; about 80 per cent. of the world total. The information relates to "We are now in command of the the aggregate value of the trade, Speaking at the annual meeting situation," declared Mr. Runciman, and not to the physical volume; It of the Westminster National Sav-the President of the Board of is, therefore, necessary in making ings Committee at Caxton Hall, Trade, at the annual dinner of the a comparison of the percentage! Sir Joalah Stamp, president of the Incorporated Association of Retail changes some allowance must be London Midland and Scottish Rail-Distributors, held at Grosvenor made for price alterations, which way and a director of the Bank of House, London.

will not have affected equally the England, said that the statistics of "We have given a lead to the trade of each of the countries, i the National Savings Movement world in currency sanity in aban-either as regards imports or as re- showed that the year 1931 had doning the idea that by a mono-gards exports.

Į

Undivided Profits U.S.$225,847,466.11 maintained a remarkable degree of poly of gold you can monopolise

progress, inasmuch as the yearly prosperity. Those two great coun- world, so far as available, show a The figures for the trade of the total of certificates sold was nearly tries which have succeeded in get decline in 1931, as compared with 13 millions in excess of the year ting great stores of gold are now 1930, of 26.3 per cent. In the value 1928-29.

having to pay the penalty of that of imports for home consumption The total income .of the classes exclusiveness, We are able to and of 27.5 per cent. in domestic from whom these certificates were show them that we can carry on exports, the corresponding figures, mainly drawn might be taken as without a gold basis,

comparing 1981 with 1929, being in the region of £1,800 million. "We have succeeded in putting 40.1 per cent. and 42.1 per cent. Between 1928 and 1931 there had sterling on such a sound footing These differences are doubtless been a fall in the cost of living, that it is rapidly becoming the due mainly to the different make- of over 10 per cent, and from 1929 envy of the world."

up of the totals, but it may be of 11 per cent. This meant that Referring to the recent appre-noted that the addition of a charge

Foreign Exchange and General COLOMBIA Banking business transacted.

Current Accounts spened and Fix,

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

J. STUART,

Manager.

Hong Kong, 11th April, 1932.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

INETHERLANDS TRADING BOCIZII) DANKENA

Established 189.

Rong Kong Omos-11, Queen's Road Central.

Autorland Capital ....................... Galidere 180,000,000. Paid-Up Capital

Guilders 80,620.000. Bessers Fuad

Guilders 40,018,000-

Head Office AMSTERDAM”. Eastern Seed OM00 1—BATAVIA.

Basdoung", Branches:-Bendj estasain,

Bombay, Oslousie, Cheriton, Djember Diol sheria. The Hague, deh, obe Maknaest, Medan, Palembang Peke longo, Pasang, Rangoon, Botterdam", Semarang, Shangkal, "Bluppare Soar bass, Boerakarta (Solo), Tegal, Tj/lat}ap and Welkovridan”.

• Thess ofhoes have Safu Depoeli Bazes to Lat.

LONDON BANKE19:-

NATIONAL PROVINCIAL BANK LTD.

Correspondeals all over the world. Banking Busi

of every description tractad.

A. STOKKINK,

Hong Kong, 1st December, 1981.

THE

Msanger.

AMERICAN EXPRESS COMPANY.

DOMINICAN

REPUBLIC

INDIA ITALY JAPAN

the Bank.

PORTO RICO

STRAITS

SETTLEMENTS URUGUAY

· VENEZUELA

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), S.A., in Paris and Nico. R. M. MCLAY,

Manager. Hong Kong, March 1, 1982.,

(TAIWAN GINKO.)

HEAD OFFICE:-Taipeh, Formos.

Incorporated by Special Imperia} Charter, 1899.

"OH YEAH?"

Dver

The poor-

APRIL 25, 1932.

COMING SHORTLY TO THE KING'S.

A wee bit of

Scotch...but simply

Delicious

JANET

GAYNOR

CHARLES

FARRELL

EL URENDIL

Muele by

GIORGI GERSHWIN

A FOX PICTURE

Directed by David Butler

Commercial and Travellers' Letters. of Credits, Travellers' Cheques, Bills the goods and services purchased ciation of sterling, Mr. Runciman in respect of insurance and freight of Exchange and Cable Transfert with their aggregate income could said: "I hope it will not be too to the cost of the goods when valu- bought and sold. Current accounts be obtained now for a much less rapid. Rapid movements are keed as importa would have the and Savings Bank accounts opened and Fixed Deposits in local and forum, and, even after allowing for the ly to be detrimental.

I would effect of lowering the proportion- eign currencies taken at rates that Ross by additional unemployment rather it were slower.

ate decline for imports compared MILLIONS GO UP IN SMOKE. may be ascertained on application to eas payments of the dole), there "We are gradually getting our with exports, if this charge. ware

was an amount of the order of at trade balance on a sound footing" comparatively fixed in terms of A good deal of money goes up in least £150 millions per annum of additional spending power in their

money while the average value of smoke every year in Canada, In the goods declined owing to price the calendar year 1930,

A total hands during the last two or three

changes..

amount of $85,671.786 represented years.

Import Changes.

the valua of the products Decrease In Purchasing Power.

One of the cruellest but widest-

On the import side the decline of the tobacco manufactur- Sir Josiah asked the question, selling publications

in aggregate value as compared ing industry of the Dominion, of recent how had this spending power in months is a small book bearing the with 1980 was substantially less in an increase of $19,946,071 in fact been used? He drew atten- above title. It consists of opinions the case of the United Kingdom' ten

years. Cigarettes account- tion to the fact that the total pur and predictions by prominent (16.6 per cent.) than the average ed for $49,885,866 of the 1980 THE BANK OF TAIWAN, LTD. chasing power of the country, statesmen, financial and business for all the countries specified in total. There were 5,086,448,000 measured in the volume of produc-leaders and economists which have the Journal (26.3 per cent.), and cigarettes made. Cut smoking to- tion, aa distinct from anything been sadly belled by subsequent only three countries Switzerland, bacco to the amount of 15,792,304 affected by prices, had fallen by 16 events. The following extracts Denmark and Sweden-had a pounds valued at $18,466,194 was per cent. since 1928 and 20 per are typical of its contents.

| smaller percentage decline.

next in the items of value and cent. since 1929.

"We in America to-day are near- On the export side, comparing cigars to the number of 197,898,000 One would have expected to find er to the final triumph

1931 with 1990, the United King-were third, valued at $10,024,186. Cutral Bank is Formosa,

that this decrease in purchasing poverty than ever before in the dom showed a large proportionate The balance of $7,346,040 was ac Bank-Notes issued Average amount ...Yen. 13,000,000 or exchanging power would have history of any land.

decline (81.8 per cent.) than any counted for by chewing and smok- BRANCHES AND AGENCIES: JAPAN:-Tojka, Yokohama, Kobe, Duks, been reflected in a decrease in im- house is vanishing from among us. of the countries included in the ing tobacco and snuff. FORMOSA-Giran, Hagi, Harunko, Ks, ports of

Makong, Nuas. Skinchiku, Taichu, Faless, these had actually risen since but given a chance to go forward India, British Malaya and the diane evidently have not the pre-.

consumable goods, but We have not yet reached the goal, Journal's table except British The present generation of Cana- Takso, Tammui, Tosa, Brito, Tallo, CHINA-Bhangbai, Hankow, Away, Foochow 1928 by 12 per cent and since 1929 with the policies of the last eight United States, and the measure of dilection for chewing tobacco that

Swatam, Danton, OTHERS-Ho Rooz. Blogspors. Sobeys, by 8.7 per cent.

years, and we shall soon with the the decline in the case of Canada their fathers had.

According to Bemarang, Batavia, Bombay, London, New Tork, Dairon.

This was a truly astonishing re-help of God be in sight of the day was practically equal to that in

the report just isaued by sult and showed that the transfer when poverty will be banished the case of the United Kingdom. the Canadian Government Bureau of producing power of 150 millions from this nation." Herbert Taking from one class of the community | Hoover on August 11, 1928.

gether and ports and exports to of Statistics, the quat Bureau chewing tobacco produced 远 to another had completely altered "A depression like 1920 and 1929, Denmark, with reductions of Canada in 1921 was 6,227,768 the directions in which the pur-1921 is clearly out of the question. 18.3 per cent. for imports and 22.2 pounds valued at $2,796,721, chasing power was used, and a We face a recession which will per cent. for exports, Is the only

later the output large part of the new resources of terminate in the Spring." country to show a decline of under was 4,287,285 pounds valued at the working class had been spent Harvard Economic Society, Novem-30 per cent. for both imports and $3.898,920, a decrease of 1,940,475

exports, while the United States pounds and $2,897,801. purchases from ber 30, 1929.

"Belleving that fundamental shows a decline excasding 50 per similar period the production of cent. for both imports and exports.enuff advanced from 678,739 pounds This was the central problem of conditions of the country the balance of trade ao far as it sound and that there is nothing was under our control. This in the business situation to war- volume of additional purchasing rant the destruction of values that power naturally also enhanced the has taken place on the Exchanges, ability of these classes to save during the past week, my son and money, and it was small wonder then I have for some days been pur that some 7 per cent. of it had chasing sound common stocks. found its way inte National Sav- John D. Rockefeller, Sr., October

30, 1929, ing Certificates.

"Never before has American busi-i

LONDON DANEERS:

Bulaga Banky Lid., Lloyds Bank, Lid, Midland Hank, Ltd., Westminster Bank, Ltd.

INC.

The Bank has Correspondenta in all the princips Commercial Contive throughout the world. K. NAGURA,

Head Offee:-65, Broadway, New York

Manage).

HONG KONG BRANCH:

2. De Vaux fload Central. Hong Kong. December 14, 1981.

Capita!

Surplus Reserves

U.S.$0,000,000 .U.S.31,572,454 ....U.S.41,908,209

BRANCHES 30-

BANK.

Paid-Up Capital

.$24,710,200.00

Reserve Funda

.$ 3,820,509.82

Amatardam Antwerp Athana

Beale

Berlia

Biarrit

Bombay

HEAD OFFICE: BHANGHAL

HONG KONG BRANCH:

4, Queen's Road Central

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

We also handle the issue of Bonds

Bewa

Glasgow Bamberg Bavra Interlaken Jerusalemo Lide London Liverpool LUDETER Lugana- LaRo Marsailles Constantinople Monte Carls

Bessels

Baamon Air Onim

Calusta Скорм

Colorabo

Copenhagen Edisburg's Florence Gyov

ما المميز

Munich Moniteux

Nice

Kapla

Piresu Paris Penana Paking Palamo Botterdam Boms

814bout

Shangbal Southampto Singapori

B1: Noriti

Flapuls

Vienna

Vom

Yokohama Surich

Branches of American Express Com-

Just Received.

YVERT ET TELLIER POSTAGE STAMP CATALOGUE

FOR

1932

At $6 Each.

GRACA & CO.,

in additional

abroad.

•

2

Bre

.

LONDON SILVER PRICES.

Advance Recorded.

London, Yesterday. Closing silver prices in London to-day were:

Spot

Apr. 22 Apr. 23 .17 16% Forward...17.1/16 16.15/16 At two o'clock this afternoon

Concluding, he said that the much-needed rise in prices which ness been as firmly entrenched for would redivide the national income prosperity as it is to-day. Steel's! In a way that would make business three biggest customers, the auto the London on New York cross possible once more might make the mobile, railroad and building in rate was quoted £1-G$8.741⁄4- task of the Savings Certificate dustries, seem to me to justify a workers rather more difficult than speculative era in Wall Street, in healthy outlook. This great

Ten, years

In the

with a value $789,878 to 1,008,738 pounds valued at $1,811,836. Cigarette smoking shows a sub- stantial increase in ten years. In 1921 the quantity produced was 2,603,971,000 priced at $31,118,848. in 1930 the output was 5,086,448,- 000 with a value of $49,835,366. Smoking tobacco increased from 12,880,521 pounds, with a value of $16(261,015 in 1921 to 19,010,687 pounds valued at $20,581,004 in 1980.

The comparative figures for cigars are 168,075,000 and $11,864,- 753 and 197,398,000 and $10,024,186. THE DOLLAR RISES.

In 1980 Canada's tobacco imports were valued at $7,048,898 and ex- The Hong Kong dollar advanced ports at $1,329,273 of which $1,159,- retain the ground that had been The same factories have the same market locally was quite lifeless. There are 122 establishments in wheels turning. Values are un- Silver rose 3/16tha in London, the tobacco manufacturing industry changed. Wealth is beyond the China and India buying, “

in Canada which gave employment quotations of Wall Street Wealth In New York, on a steady In the year under review to 8,455 is founded in the industries of the market, silver had risen ath.

The cities of Montreal nation, and while they are sound,

and Quebec are the principal cen- stocks may go up and stocks may go down but the nation will pros

tres of the industry. per."--Charles M. Schwab, Decem- ber 20, 1929:

it had been to keep up their figures, which stocks have crashed means

·

and other Public Funds of the Chin-pany in Principal cities of United Dealers in Postage Stamps, Religious but they must do their very best to nothing in the welfare of business.th on Saturday to 18. 2%d. The 193 was bought by the British Isles.

ee Government both at home and States of America and Canada.

abroad.

Goods, Pictorial Post Cards," Tors, etc.,

SHOU J. CHEN,

Manager.

All classes of Commercial Banking Transactions undertaken.

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

Won.

Hong Kong, 6th March, 1981.

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1884.

Capital (fully paid-up) Yen 100,000,000 .Yen 117,300,000

Reserve Fund

Head Office:--YOKOHAMA

Branches and Agenciae at:

Alexandria

*Batavia

Borlin :Bombay

Calenta

Canton

Changchun

Dairas (Dalny)

Nagmaakt Nagoya Nowchwang

New York Ouka Paris

Pelping

Rangoon

Feertien (Mukden) Rio de Janeiro

Harbin

Hong Kong

Honolula Kai-Toen

Karachi Lobe

London.

Los Angeles

Manila

San Francisco

⚫ Beattle

Semarang

Shankki

Singapore Sourabaya Sydney

Tientaln

Tokyo

Telagten p

Internt allowed on Current Aer

events.

..

Deposita peceived for fixed periods

as ratas to be obtained on application.

H. MORI

|Hong Kong," 11th March, 198L

Personal Investment socounts handled.

The Company offers to intending QUALITY PRINTING

Travellers the use of its "Travellers Chequer" and Letters of Cradit and, in addition, the world-wide services of its thoroughly equipped Tratel Department.

EW. DUGGAN,

Manager.

With Quick Service

THE NEWSPAPER: İNTERPRISE LTO,

THE BANK OF EAST ASIA, LTD.

Established 1918.

HEAD OFFICE:

10, Des Voeux Road, Central, HONG KONG

Capital and Surplus Total Resources

over H.$ 8,000,000,00 over H.550,000,000.00

Every description of Banking and Exchange busines transacted.

Current and Fixed Deposit Accounts in local an eign currencies opened for clients.

Savings Account and Safe Deposit Boxes. Branches and Agencies all over

KAN TONG! PO,

RIOT AT FORD WORKS.

Two "Hunger-Marchers"

Killed.

اب

CANTON EXCHANGE

New York, March 7.

Canton Central Bank notes were quoted at the Chinese Exchange Two persona are reported to

"There may be a recession in here last evennig at 52.3 per cent. have been shot and killed, and sev-stock prices, but not anything in while Hong Kong dollar notes in eral others wounded in the course the nature of a crash. Dividend exchange for Kwangtung silver

Henry Ford at Dearborn, Michi-

persons.

COPPER OUTPUT CONTROL.

New York, March 4.

It is rumoured that the world's

ence.

of a demonstration against returns on stocks are moving high-were at a premium of $421.50 for large copper producers in confer- gan, to-day by a mob of 3,000 This is not due to receding each $1,000. Communists and their sympathis- Prices for stocks, and will not be

ora.

hastened by any anticipated crash,

DEVICATES.

ito....

here have about agreed reduce production to 17% per. cent. of capacity, which is estimated to equal the ap |proximate present world demand. Placements, Basle (local agents, would mean a complete shut-down

Of the Societe Internationale de

This proposal, If approved, Mesars. A. Goeke & Co.). Satur by some of the United States com- day's official quotation In Baale: panies, as, a cut to 17% per cent.

A "hunger march" arranged by the possibility of which I fall to the Communists started at West economics at Yale, September 15, nee." Irving Fisher, professor of Detroit The marchers comman- 1929, deered tramcars and rode to the Dearborn city line, where they big way, 1981 can be den were met by 50 Dearborn police. In 1929, we were living in a place

cribed as a year of opportunities. £2-10-6 The police fought them with tear-with a powder mine in the cellar. gas bombs and the firemen with a 1931 we may feel sure that, we fire hose, but the crowd got are living in poor-house with a pany's assets on March 10, 1981, recalled, a cut to 26% per cent of through to the Ford plant. There gold mine In the cellar. Roger had exceeded its indebtedness by sentatives of approximately 90 the Ford police turned another fre Babson, December 26, 1980.

capacity more than $88,000,000, but at the hose on them, and when this fail-

"Not only have the "big men's of end of 1981 was less ed to check the attacks, the Ford the country been wrong in their men id efty police fred, first over utterance at the have similar 360

by the heats of the Crowd, and then y erred in their handling of t

000 The sec into it. It broke and 164+

World

monstration was planned at a Communi

entrpifed "fa" them and be,

is said,

at the Detroit

Chief, Manager.

yesterday

ant report

of the

the secur

Foster was the principal speaker that the

Bank

Kimately

{of capacity to these companies

would be quite uneconomic.

Late last December, It will be

was agreed to by repre- per of the world's copper produc-

HOW

here,

Expor

fore

clusion

the producers.