1932-05-10 — Page 2

BANKS

BONG KONG AND SHANGHAI "BANKING" "CORPORATION.

Authorizat Onpital .................. Imać and Fully Paid-sa

Beauty+ Funda 100

Berling

Ger

names 4 1,500,000

mum 45,009.200

$64, 108, 200

Mary Edsbliity of Proprietors. 830, xâmpin

READ OFFICE, HONG KONG.

AD OF DIRECTORU ; —

Mon. Mr. 7. J. Puberson.

hairman.

T&Beacon. Bag Days Chaleman.

Ms. Mr. W. H. Bell,

A. Opios, Tas. 4M, T.-Juhman, Ray.

·ft. Miskist," Rog.

MOI

#BANGKOK MATAVIA GUMBAY

SALGOTTA

CANTOK

JIKZFOO

JOLOMB

DAZEBY

UKSEED W

J. Plummer. Bes

, . . ham, Eng

·J.. 2, Warren, Eng.

V. M. Gragbara, 14. Chief Manggir.

HAIPHONG BAMBUKO BANKOW BARBIK HONG Y

1740124

Kont

KOBX

BOWLOON

BRANCHES (~

TALA LUMPUR

LONDON

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1883.

HEAD OFFICE: LONDON.

Paid-up Capital

AKRITSAN

THE CHINA MAIL

THE HO HONO BANK, LTD.

(Established 1917.)-RAY

HEAD OFFICE:--SINGAPORE.

Authorland Capital Straits $20,000,000 Ismed Capital

Paid-up Capital

Reserva Liabilities

of Stareholders · Surplus

8,000,000

1,000,000

4,000,000

1,687,000

Branches, Agencies, and Correspon .£3,000,000 dente in the principal cities of the |

£3,000,000 | world.

Dvary' description of Banking and ..£3,000,000 | Exchange business transacted.

TAN ENG HOOL ·

Manager.

Reserve Fund

Reserve, Liability of Pro

prietors

Agencies and Branches:

ALOR STAB

KUCHING

MADRAS

MANILA

MEDAN

NEW YORK

PEPING (TEGI- PENANG

RAIGON

BANGBOY BATAVIA BOMBAY

CALCUTTA

CANTON

GAWNPOKE JEDU

COLOMBO

DELAI

HAIMIONG

BANGOON

SENABANG

BEREMBAN

SHANGHAI

SINGPORE

KAKDURO

LYONS

HANKOW

HARBIN

SITIAWAN

MALADCA

BONG KONG

BOURABAYA

MANILA

ILOILO

TAIPING

MUAR (Johor)

FOR

TIENTRIN

MURDEN

ГАВАСЕЦ

TONOKAH (Bhuk}

ALANO

TSINGTAO

KOOK:

TOKOHAMA

XUALA KANGSAR

ZAMBOANGA

and

NEW YORK

PELPING

PENANU

BANGOON

BAIGON

SAN FRANCIRCO

SHANGHAI

SINGAPORE

HOUBABYA

TIANTS})

HUNDEI PATANI

TOKYO

TSINGTAO TOKOHAMA

Barras Ascounts opened in Local Currenty * Fitas Depoelia Przed for one year skorter perioda In Loent Corney and Whaling Gorzka, which will coment ou appiyanis

Hong Kong. 6th April, 1932.

HONG KONG SAVINGS BANK.

The Barises of the shore Bank is gooduste! 13 the HONG KONG AND HIANGKAT DANK. Rule may be ablełzad ING BEPORATION.

.

FOS TER HONGKONG AND SHANGHAIT BANKING CORPORATION.

V. M. GRATBERY,

Chial Manager.

Hong Kong, 17th February, 1934.

THE BANK OF CANTON. LTD.

Established 1912

KCALA LUMPUR

Foreign Exchange

Banking business transacted.

THE NATIONAL CITY BANK OF NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Surplus and

Undivided Profits U.S.$226,347,468.11

Branches in:

ARGENTINE BELGIUM BRAZIL

CHILE

General CHINA

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, 11th April, 1932.

THE NATIONAL COMMERCIAL

SAVINGS BANK, LTD.

Head Office:-Hong Kong. Authored Capital (B.B. Curry! Poll-Up Capital 04

BRANCHES:-

$11,000,000 1,100,000

Canton, Bhangbel, Hankow, Custow, Bangkok, New York and 6an Festin

LONDON DANKERİ :--

The Lost's Back, Limited.

CORRESPONDENTS

tent youcipal cities of the World.

Foreign Exchange and banking business of wcy. Sempiphlon izanensted.

Gala Depilt Boxes (various laws) 'ok's yourly

metal of fora $5 to $43.

LOOK POONG SHAN,

Chief Manager.

CURRENT ACCOUNTS. Cheques Cashed in 15 minutes

while you wait.

SAVINGS ACCOUNTS

We offer good rates of interest.

TOTAL RESOURCES

$19,000,000

EFFICIENT-TRUSTWORTHY... RELIABLE-COURTEOUS.

144-150, Des Voeux Rd. C.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS TRADING SOCIETY)

BANKERA

Established 1984.

Rana Rana Orâce :-11, Queen's Bood Central.

Authorland Deplial ......... Ozilder 150,000,000- Pad-Up Capital

Gulldaya 80,000,000. QuilJære 40,018,00G-

THE BANK OF CHINA.

行銀國

中

Reserve Fund

Reorganised October 26, 1928, under

ecial charter of The National Gor woment as an

INTERNATIONAL EXCHANGE

BANK.

Bubscribed Capital

Paid-Up Capital

. $25,000,000.00 $24,710,200.00

....$ 3,820,503.82

HEAD OFFICE: SHANGHAL

--Reserve Funda

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 and other Public Funds of the Chin - Government both at home

abroad.

SHOU J. CHEN,

Hong Kong, 5th March, 1981.

Breaks

COLOMBIA

TERA CUBA

LONDON MEXICO

PERU

PANAMA

PHILIPPINE

ISLANDS

PORTO RICO

STRAITS

REPUBLIC

INDIA ITALY

URUGUAY

VENEZUELA:

DOMINICAN

JAPAN

and

Commerce

Finance

NEW YORK STOCK QUOTATIONS

PRICES RECOVER AFTER EARLY

REACTION.

Rails Again Show Weakly.

Sears Roebuck. Shell Union Simmons Company Socony-Vacuum Corp. Southern Cal. Edison Standard Gas & Electric. Standard Oil of N.J. Texas Corporation Texas Gulf Sulphur Transamerica

New York, Apr. 80. Month-end covering on the New York

Exchange Stock

to-day brought prices up to near previous closing quotations after an early reaction with many new lows, says the daily review of the Dow Jones Financial News Agency for the Wall Street Journal.

Early losses, however, were Union Pacifie mostly under a point in extent.

The rail Issues were the weakest, but they showed a rally from the

TUESDAY, MAY 10, 1932.

BRITISH TEA

TRADE. Grower's Loss of 75 Per Cent.

"WAR" IN COTTON TRADE.

Mr. F. Hodges and

Unions.

NOT CAPITALISTIĆ.

THE PRESENT POSITION,

London trade reports to hand, Mr. Frank Hodges, a director of dealing with the tea position, state the Lancashire Cotton Corporation, that 75 per cent. of the tea produc speaking at a League of Industry ad In 1931 showed the grower study school at Exeter College, loss, and the position to-day, parti said he believed that capitalist cularly as regards Java, is un-society in the Marxian sense had changed as many of the estates are long since disappeared, and that still producing tea at a consider there was no place for the class able loss. According to Brooke war" in modern conditions. 18% 17% Bond and Company there was 21

We have (he said) for some time. 24 increase of 21% million in the suffered in the Lancashire cotton world's production of tea during trade from the most severe unem- 814 24% 24% 1931, Java teas in particular show ployment to which any industry 16% 18 ing the greatest increase. It is! 22 225 mentioned that Australian importa cumstances, world politics, the In- has been subjected. World cir- of ten have declined considerablydian situation, the irregularities of which is attributed to the fact that international currency,

24

5

84

B

Union Carbide & Carbon United Aircraft & Trans. United Corp. ****

10% 11 17% 18

34 18 18 50%

10%

United Gas Improvement U.S. Rubber

lowest quotations recorded. The U.S. Steel Dow Jones average for 20 rails Vanadium

SETTLEMENTS was off 40 to 21:44. B. & O. closed Warner Bros. Pictures

Woolworth

off a quarter to 8% and other Westinghouse E. & M. issues reacted correspondingly. Air Reduction Commercial and Travellers' Latters | Oil issues were perhaps the Amer. Sugar Reining of Credits, Travellers' Choques, Bills strongest on the market, under Auburn of Exchange and Cable Transfers teadership of Standard Oil of New Canada Dry Ginger Ale.. bought and sold, Curt t accounts i

Continental Can

and Savings Rank accents opened Jersey which closed up an eighth Conta and Fixed Deposits in local and for-to 22%. Texas Corporation closed Diamond Match & eign currencies taken at rates that up an eighth also, at.11.

may be ascertained on application to: Utilities and mercantiles rallied the Bank.

End Office:—AMSTERDAMU Bastar Band Oos-BATAVIA.

Bandceny", Bombay. Beadjar zuluetan, Calcutta Cheribon. Djamber, Djok jakarta", The Hague", "Jiédah, Kobe, Makas. Kedua, Palembang, Paks Hogan, Penang, Bangoon, Borlardam". Bemarang, Shanghai, Blagapore, Boura

Belay Boerakarta (Bola), Tagál, Toljap and Weltevreden®,

• Thues offione hare Safe Deposit Basse to Las,

LONDON BANKERS:—

NATIONAL PROVINCIAL BANK LTD.

Gormpondents all over the world. Banding Basi- tions of stacy descripting transacted.

A. STOKKINE,

Core Kong, In Decembər, 1981,

THE

Manager.

AMERICAN ‘EXPRESS COMPANY. INC.

Head Ofles:-85, Broadway. New York.

Manager.

Capital

Surplus Renerves

THE YOKOHAMA SPECIE BANK, LIMITED.

Establish 1880.

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

‚Yen 117,800,000"

Head Offer:-TOKOHAMA,

Branches and Agencies at:

Nagasaki

Alemandris

'Batavia

Boother

Uhan, gehum

Detran (Dalny)

Nagoya Newchwang

New York

Paris Peiping Rangoon Fangtion (Mukden) Rio de Janeiro Hamburg

Franciaon San Seattin Semarang

Bonoseki

Singapore Boersbara Sydney Thatela Tokyo Tsingtan

U.S.$6,000,000 .U.8.41,578,454 .U.S.$1,908,209

BRANCHES:-

Emiterdam

Athaca, Beala

Bomber

Giacom Glasgow KATAL Halabura

Jaleelakan ferujalata

Kaple

London

Lasera

Genera

ségla “Mosle Carlo,

Monicax

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

All classes of Commercial Banking Transactions undertaken.

Parsonal

4

Elec. Power & Light

are all

184

a lower grade tea is required, due against that industry, Yet not- 49% to economic conditions, Java andi 10% Sumatra having taken the place of traction of the cotton industry, and withstanding the increasing con- 64 Cayton. Figures are quoted show the ever-growing unemployment,

18

war seems to be the keynote of the relations between the operatives and the employers.

6% 18% Ung.

ging that Ceylon teas imported into 27%

Australia in 1930 2814

aggregated 73 7% 21,579,000 lb, whereas in 1931 they! 114 14 totalled 11,902,000 D. It is stated 211 21

that the tea industry In Kenya! 35% 344

Twenty-Five Years Behind. 88% Colony is now producing sufficient After making investigations 17% tea to satisfy domestic require abroad, it was proved that Lanca- 38% ments, and also that Russia is alm-shire was about twenty-five years 94 ing

to produce approximately behind the times in its technical 45,000,000 lb per annum by 1983, equipment. Those who were in- which represents about two-thirds terested in the industry came to the of the nation's requirements. The conclusion that if they could speed. possibility is referred to of a duty'

jup the technical processes they

37

18

32%

04

35% 25%

21

2

12

12

74 3

7

2

34

3%

General Amer. Tank Car 17

17

Int. Printing Ink.

4%

to

Mack Trucks

13

Nat'l Biscuit

,82

8

8

23

22

We are also able to offer our Cus: during the course of trading. tomers the services of the Branches Coppers were barely steady. of the International Banking Cor. Anaconda closed off an eighth poration In Spain and also of The 4%. National City Bank of New York: (France), S.A., in Paris and Nice. R. M. MCLAY,

Manager. Hong Kong, March 1, 1982.

Fund. Trust Series "A"

Fund. Trust Series "B"

30 Nat'l Cash Register

4%

46 36 7944 19

The Dow Jones average for Industrials was up .18 to 56.11, Nat'l Dairy Products with U.S. Steel closing up to United Fruit

Safaway Stores 28, Bethlehem up % to 13.U.S. Realty & Imp. Allied Chemical up to 58%. American Can up a quarter to 39% DOLLAR GOING THE BANK OF TAIWAN, LTD. and Westinghouse up to 21%.

(TAIWAN GINKO.)

HEAD OFFICE-Talpek, Formos.

Incorporated by Special Imperial Charter, 1899.

Kaal.

*

The Dow Jones average for 20 utilities was off .01 to 24.21 and that for 40 bonds was off .26 to

74.98.

Sales for the day totalled 438,980 shares.

Quotations,

Apr.

Central Bank in Formosa. Benk-Notes wed årsenge amount...Tum, 45.000.000 BRANCHES AND AGENCIES:

Air Reduction JAPAN -Toyko, Yokohama, Joba, Chaks,

Amer, Sugar Refining FORMOSA 1-Gira,

Barenko

Kolu Auburn Sakong, Nanta. Shinehiku, Taichu, Takao, Tamui, Town, Hello, Txito,

Canada Dry Ginger Ale CHINA |—Shuaghal, Rankow, Amay, Foocher, Continental Can

wasow, Canton. OTHERS-Ho Kang. Gingapore, Sosrabeys, Coty, Inc. ...

Samarang, Batavia, Bombay. Losdos. Tork, Daiers.

Tsinau.

LONDON BANKEEN: Barclays Bank. Ltd.. Zloyds Bank, Ltd.. Midland Bank, Lid., Westminster Bank, Ltd.

5%

on tea being imposed by Britain could lessen the cost of production when the Budget is introduced in and make up lost ground. They de- 18 April, and that British grown tea veloped a scheme which only last 32% will possibly receive praference, in week was submitted to the opera- which event it will have consider-tive side. The trade union repre- able bearing on the tea trade in sentatives were unanimous in re- Australia. An example of the recommending it to their people, but 5aults of Empire preference is at a conference recently the rank

instanced in the import figures.fór Austraila and New Zealand. The presentatives from the districts re- and file of the operatives' re- former gives no preference to Em-

|jected the scheme, which had taken pire tea, but New Zealand levies a several months to work out. duty of /5 per Ib on Empire and [/7 por tb on foreign grown tea, plus a surtax of 9/40th of the duty, up Thus, whereas Australian imports the bands of the banks. The banks

UP.

Local Market Steady, But Lifeless.

This is a case where there is no Most capitalist motive Involved.

of the industries up there are in

The Hong Kong Dollar went

yesterday to 18. 2%d. The of Ceylon tea declined by 9,677,000; local undertone was steady, but tb in 1981 compared with 1930, have advanced money to keep them 20 30 there was no life on the market. 37

New Zealand's imports of that com-going, and charge a certain rate of 17% In both London and New York modity increased by 2,822,000 m.interest for the use of that money. 83% silver advanced %. and in both With regard to taxing tea There are no dividends declared.

86%

9% places the market was steady.

18

32%

944

25%

25%

214

20

Kew Diamond Match

1214

Elect Power & Light Fund, Trust "A"

74

3

Fund. Trust Series "B"

34

17

17

444

44

18

18 92% 82%

814 84

The Bank as Correspondente in all be principal Commercial Centers thenughout the world, K NAGURA,

KONO KONG BRANCH:

1. Do Your Boad Central Hong Kong, December, 1981.

Manager.

Sore Throat?

"...I find FORMAMINT

AB....

is a very nice friend to have

your pocket, when you aro in troublo with your throat."

Mr. T.B.—T,

FORMAMINT

destroys the dilaku 'gers in mouth and throat, thus curing Bore. Thront, and protecting you against infectious diseases, each, su INFLUENZA, DIPHTHERIA, SCARLET FEVER,

PHOTO-SUPPLIES

Kodaks and Camera Fuma, Plates and Papers, etc Developing Printing, and Enlarging.

ZIESS and BUSCH FIELD GLASSE?

Price Moderata.

A Trial Order

Salleitad

CO.

General Amer. Tank Car

at. Printing Ink

Mack Trucks Nat'l Biscuit

Nat'l Cash Register

Nat'l Dairy Products

Safeway Stores

U.S. Realty & Intp.

United Fruit

Adams Express

$1,000.

LONDON SILVER PRICES. ́ ́ ́

London, Yesterday. Closing silver prices in London 46 to-day were:

23 22%

59

the

opinion is expressed that "No one' The industry has just enough life- At the local Chinese Exchange can deny the desirability for Em.blood to keep it alive. But despite 12% last evening. Canton Central Bank pire, preference, but let it be the known fact that the cotton in- notes were quoted at 52.6 per cent. throughout the Empire. A high dustry is not now, in the strict 2% and the Hong Kong dollar notes, tax on foreign tea into Great sense, a capitalist concern, there is 3% in exchange for Kwangtung silver, Britain. alone wiif drive valuable just the same mental attitude-to- were at a premium of $422 per markets away from India and Cay. wards it on the part of the opera- lon, while a point that should not tives as there was twenty years ago. be forgotten is that a considerable "It is the same in the coal trade, part of the "foreign" tea is pro- which, taking the industry as a duced by British firms with British whole, has not paid out a penny capital." Taxing the article seems dividend since 1912. Yet you will to be a bull point with many, but find that the point of view of the It certainly will not increase con- trade union leaders is just about aumption.

į where it was when Lleft it. There Linseed Outlook.

is no money in the "kitty," but they Reviewing the oil seed crushing insist on having their quarrel about Industry in the United Kingdom in some Imaginary amount that is in the early part of last month, "The the "kitty." It is futile to quarrel London Grain Reporter" stated:about the division of spoils "It has derived considerable en- which are not there, but that in couragement from the decision that how Britain has been quarrelling

inseed will be exempt from the for a couple of decades. import duties applicable on March

Philosophy of Ruin.

46

5%

10% 19

2%

2%

Spot

Allied Chemical & Dye

52% 53%

Forward

American Can

Allied Ghalmers.

American & For Power.. Amer, & For. Power

Warr. *** American Smelting American Tel. & Tel. American Tobacco "B" American Waterworks Anaconda Copper Auburn Automobiles Baltimore & Ohlo Bethlehem Steel

Borden Company

Borg Warner

Canadian Paclic Rail.

Case, J.I.

Chase Bank

Chesapeake Corp.

Chrysler

Cities Service Co. Columbia Gas & Electrie Cam wealth & Southern Com'wealth & So. Wher. Consolidated Gas of N.Y. Continental Oil

Corn Products .. Curtiss Wright Com, Drug Inc..

Du Pont de Nemours Eastman Kodak

Electric Bond & Share Electric Power & Light

Fox Film

General Electria

General Foods

General Motors.

General Rail. Signal-

Gilletta Safety Razor, Gold Dust

Goodrich Rubber. Goodyear Tire & Rubber International Cement Int. Combustion Engine International Harvester {International "Nickel

International Tel; & Tel Johns Manville....... Kennecott**** |Kreuger & „Tõll Liggett & Myers B Loew's Inc.

ard P. Co. (Com.);

Steel

Montgomery Ward, Nat City Bk. (bid price) Nevada Copper

New York: Central North American Co. Pacifio Gas & Electric Packard Motors/ Parattanut Pu

May 7 May 9. .18.11/16 16% .16.18/16 16.15/18

6% 81⁄2

At two o'clock this afternoon the 89% 39% London on New York cross rate Uug. 8%

was quoted £1-G83.68.-Reuter.

2 2K

97 97% 674 074

CROWN LANDS SALE

19% 19% Mr. Owen Hughes Buys 32 33 Lot at Mt. Cameron,

4% 4%

854 9% 1244 13

6%

614

Works

1. That the industry as a whole

273% 28% At the offices of the Fublic had been adversely affected by the. Our industries have a sufficiently Department, yesterday continued increase of importations hard struggle to keep alive in a 11% 11% afternoon, two lots of Crown land of oils manufactured abroad may he competitive world if we work to- 20% 20% were put up for sale by public auc-gathered from the fact that the gether. They cannot keep alive if

94

8%

4

4

8

2% 2%

5/15

84 tion. There were no bids and both crushing capacity of the mills in we quarrel. The trade union 84 lots were sold at the upset price. the United Kingdom has for some leaders say it is better to let these A lot with an area of about time past been restricted to rough-industries go to the dogs, for Marx 2,790 square feet, situated at y 48 per cent. of their full output, said that only when the existing Wong Nei Chong, was bought for The import duty on oils although economic structure was in ruins 1914 $8,370 by Mrs. Wu Chan Shi and no more than 10 per cent is ob- would you have the new order 5 Mr. Lo Wal-chuen, of 15, Kennedy vlously a step in the right direc, which would give the people a 3244.32% Road..

36

50

Б

1

87 88

28

Mr. Owen Hughes was the buy-tion, and as a result the require reasonable life. Those who hold or of the second lot for $5,128. Itments of seed by the United King- that philosophy declare that it is 28%

dom from now on must definitely the proper thing for an industry to 484 48% comprises about 89,400 square feet

While tariff discussions go to ruin. 12% 12% of land and is situated at Mount expand.

7% 7 Cameron.

24-8

18% 13%

30% 81

10% 10

13% 13% 144 14 124 124 832836

10% Ung. -94

84

18

5

U.S. STEEL.

i.

appear to be the all-absorbing tople, Capitalist spelety as Marx under- it is as well to observe financial stood it in my judgment, has long developments in the United States since disappeared. We are living relative to the prospective price in an entirely different typs of tendency, Some £500,000,000 of society. Russia is the only country what has been described as "frozen which has attempted to put pure credit” may be released in the near Marx doctrine into practice, but future, in which case Industry on Bad though the rest of the world is, New York, April 26. that alde may benefit ac- I do not believe Russia has any- first time since cordingly," and ...' purchases of thing better, to offer git. DILMI

No Quarterly Dividend an Common Stock.

For

the

1916 the United States Steel doll-seeds correspondingly increase, thought so I should be quite pre- Corporation has not passed its Stocks of oil-seeds in Europe pared to accept it

55% quarterly dividend on the Com- at present are sald to be at I see a definite and absolute de- 12% 124 mon Stock, though the regular low level, and it must be conced-parture from the canons which are

dividend of $1.75 is declared on the ed, that world purchases of linseed supposed to be represents

21%)

14734 485 Preferred. The previous: Common to date have not been an extensive capitalism. I

Stock disbursement was 50 cents. as up to the correspor 18% The Company shows an operating a year ago. Supplies

-18%

Ung. Ung, defilet

of $1,186,607 for the first cipal producing,

quarter of 19

88 exper

284 2014

after allowing for ample, but the,

total earnings in the of the moment in

CER

were $8,970,920, develo

18 for the first tha

Ware $19 464 686

ATES.

within the next-

Britain will

where indus

of

Hoa Lan Vill