1932-07-05 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorised Caplial, setman

50,006,000 Innued and Polly Paid-op 30,000,000 Banat Funds:—

Starting.....,840,000

Buyer

$10,000,000

Barores Liability of Propelstorm ☎,003,000

HEAD OFFICE: HONG KONG,

BOARD OF DIRECTORS 2---

Hon. Me. J. J. Falasmom.

Chairman

T. E. France," Edq.

Deputy Chairm

How Mr. W. II, Dell,

A. Я. Compton, Big, Johnson; Zaq

M. Minkin, Maj.

ANUY

MANGEDE HATAVIA BOMBAY CALCUTTA CANTON QUEFOO

נען אט דנט

DAIREN

YOOCHOW

FATPHONG HAMBURG

MANKOW

HANDIN

JIO MOKRW

ملاهي

POK

IUTORE

КОВЕ

KOWLOON

J. A. Plumme

T. EL. E. MAIN, Ingi

1. P. Warton, AL

V. M. Graybar, Eaq,

Chief Monger.

BRANCHEA:-

KUALA LUMPUR

LONDON

MANILA

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA,

THE HO HONG BANK, LTD.

(Established 1990)

THE CHINA

MAIL.

Commerce

Finance.

and

HEAD OFFICE:--SINGAPORE: LOCAL BRANCH:—

13, Queen's Road Central

Authorised Capital Straita $20,000,000 Lasued Capital

8,000,000

4,000,000

4,000,000

Paid-up Capital Incorporated by Royal Charter, 1853. Reserve Liabilities of

Shareholdera

TUESDAY, JULY 5, 1932.

CROWN LAND."

Only One Sale at P.W.D. Office.'

Only one lot of land was put üp: for sale at the Public Works De- partment,"

[Sir Josiah shrewdly observes -

The area of the land is about "The effects of war taxation were 2,448 square feet, and it is situated

BRANCHES and AGENCIES In the GENESIS OF CRUSHING taxpayer as such from 57.5 to 79 principal cities of the world.

Every description of Banking and -£3,000,000 | Exchange business transacted.

£8,000,000

KO LEONG HOE, Managing Director.

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve Fund

Reserve Liability of Pro-

priators

.£8,#00,000

Agencies and Branches:

ALON STAR

IUCHING

MANILA

AMRITSAR ΒΑΝΟΚΟΣ DATAVIA BONDAY OALOUTTA

CANTON

ΟΑ ΠΑΡΟΥΣ

CEBU

COLOMBO

BELNI

HAIPHONG

HAMBURO

FLANKOW

HARBIN

HOẠO KINH

ILOILO

Iron

LYONS

HALACOA

MUAR (Johorn)

KARAONI

MULDEN

KLANG

NEW YORK

KODE

PEIFING

KUALA LUMPUR

PENANC

HANGOON

RAN FRANCISCO

NAIOON

SILANO LAI

SINGAPORE

BOURADYA

SUNGEI PATANI

TIENTAIN

TRINGTAD

TOKYO

YOKOHAMA

Our Accounle oponer la local Outreacy and Fixed Depouta mesired far ons pour ar shorts perinda in Loral Company and Sterling dorm which will be quoted on applosio Home Lmg, 5th April, 1939.

HONG KONG SAVINGS BANK.

The Beeline at the bare Beat is sondested SUBONG LONG AND BRAVOMAT BANK- DO DORPORATION. Rues may be ableland capellontion

FOR THE MONURONG AND SHANGHAI WANKING CORPORATION.

Y. M. OBATBURN,

Chin! Manager.

Hong Kong, 27th February, 1932.

THE BANK OF CANTON, LTD.

Established 1912.

Head Office:-Hong Kong.

Antheland Capital {H.K. Currency) ...$11,000,000 Pall-E Capital

6,668,300 Masares Fund - 1,100,000

BRAKOTES-

Buslow,

Castan Shanghai Hankom, Bangkok. New York and San Francisos.

LONDON BANKERA -----

The Lloyd's Dank, Limited.

CORRESPONDENTI

In all principal nilios of the World.

Fargo Kobange and backing bucalement of every description Sennachos,

*Bala Depali Buzau (racious sinoni`ni u'quarly

-enolat of "from_§5 to $40/1

LOOK POONG SHAN,

Chief Manager.

THE BANK OF CHINA.

行銀國屮

Reorganised October 26, 1928, undar

special charter of The National Gov- Teenment as an

INTERNATIONAL EXCHANGE

BANK.

$24,710,200.00.

Subscribed Capital....$25,000,000.00 | Faid-Up Capital Boserve Funds ..... ..$ 3,820,503.82

HEAD OFFICE: SHANGHAI.

HONG KONG BRANCH:

4, Queen's Road Central

Owing to our numerous branches in -China and large connections in the im- portant commercial centres of the world, we are able to extend to our clionta special facilities for domestic

and foreign banking and exchanges.

Foreign

NADBAS

KBDAN

NEW YORK

FEIFING (Paking)

PENANO

BANGOON

SAIGON

SEMARANG

BEDEK DAN

BILANG HAI

ВІНО АРОКЕ

SITIAWAN

HOURABAYA

TAXES.

The War Burdens.

THE NATIONAL CITY BANK OF THE FINANCIAL AFTERMATH

EXAMINED. NEW YORK.

HEAD OFFICE: 55, Wall Strast, NEW YORK.

Capital, Surplus and

Undivided Proffts U.S.$226,509,775.00

Branches In

ARGENTINE

LONDON

BELGIUM

BRAZIL

TAIPINO

CHILE

TIENTSIN

TONORATE (Bhuket)

CHINA

TSINGTAO

COLUMBIA

MEXICO PANAMA PERU PHILIPPINE ISLANDS

L

TOROKLAMA

CURA

UAA

ZAMBOANGA

DOMINICAN

REPUBLIC

Exchange and General

Banking business transacted.

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.

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 HOCIETY)

DANKERS.

Established 1831,

Bong Kong Other-il, Queen's Boad Central.

Authorized Capital Paid-Up Capital

Reserves

.1.150,000,000

.f. 80,030,000

to stretch to a remarkabla extant at Shamshulpo. The purchaser

YEE HING

! (TOMEY & CO.)

62, Des Voeux Rd. C., Hong Kong. SUMMER SALE. NOW ON

‹ FOR 30 DAYS ONLY Commencing from 25th Juna to 26th July.

the whole idea of taxable capacity, was Mr. Ip Shui-shan, the Price GREAT REDUCTION IN PRICES. and set hardly any limit to the ideas realised being $4,896.

of democracy about the available wealth to be used as largess by this means. But the essential differ- ence in this process upon a falling Reviewing Taxation During the price level has not even after twelve War, by Sir Josiah Stamp (Oxford years dawned upon the average] University Press, 10s.) and The mind." Financial Aftermath of War, by Sir Josiah Stamp (Benn 68.), Mr.

Four Points of View.

LONDON' SILVER PRICES.

London, July 4.

SPECIAL SALE

NOW ON

FOR

ONE MONTH ONLY

These may seem roving argu-] Closing silver prices in London AT GREATLY REDUCED PRICES.

Spot"

July 2. July 4 16% 16% 16-11/16 16-11/16

R. C. K. Ensor writes in The Times ments, but the fault is Sir Josiah to-day were: Literary Supplement:

Stamp's Clearness about criteria With his arduous duties as pre-is not his forte. Yet diversity of sident of the L.M.S. Railway, Sir criteria is the commonest difficulty Josiah Stamp contrives to combine about criticising taxes. One might the role of a most prolific writer.] distinguish at least four points of Witkin less than a year at least view: (1) That of the taxing SETTLEMENTS four substantial volumes have pour-official, who is concerned to raise rate was quoted £1—G$8.55%. URUGUAY

maximum ed from him, of which these are the the

with Bum

the latest. It is true that the others minimum friction and the lowest

PORTO RICO STRAITS

VENEZUELA

Commercial and Travellers' Letters were collections; that many of the cost of collection; (2) That of the

of Credits, Travellers' Cheques, Bills papers in them were old, and that economist, who wishes to diminish

Forward

The London on New York cross

CANTON EXCHANGE.

THE SWATOW

TRUSTING CO.

17A, QUEEN'S ROAD C.

(same as Long Hing) Owing to our cheap rental and low working expenses we are able to offer our SWATOW DRAWNWORK, CAN- TON SILK SHAWLS, HANDMADE LACES, LINEN, UNDERWEAR, IVORY, LACQUER AND PEWTER WARE at SUCH LOW PRICES AS

Canton Central Bank notes were| WILL ASTOUND YOU, and you will

of Exchange and Cable Transfers the smaller of these two is based on as little as possible the permanent quoted at the Chinese Exchange see how much cheaper we are than the bought and sold. Current account lectures delivered in 1930. Never-sources of the nation's wealth; (8) here last evening at 56 per cent. large stores.

COME AND BUY AND YOU WILL and Savings Bank accounts opened and

Fixed Deposits in local and forefortheless, they have all been a good That of justice, which aims at the while Hong Kong dollar notes in SURELY BE SATISFIED.

for Kwangtung silver

taken at rates that may be deal worked over; and Taxa fairest apportionment of burdens exchange

brand-between man and man; (4) That of were at a premium of $480 for each

Cad an application to the Bank.įtion during the War is a

We are also able to offer our Cus-new history of over 80,000 words, the statesman in the broadest sense, $1,000. tomers the services of the Branches done for the Carnegie Endowment who is alive to the problems of of the International Banking Corpora-

S.A., In Paris and Nice.

R. M. MCLAY,

Hong Kong, May 18, 1932.

Manager.

As new as the first

lessness can take much credit for day you wore them

come

tion in Spain and also of The National On the alde of official experience communal paychology, and knows City Bank of New York (France), nobody was better qualified to write how dangerous are mass tempta (Continued from previous Column.)

it. For, as a Civil Servant, Sirtions. Josiah helped to advise every. war-- From the first British war taxa-justice. time Chancellor of the Exchequer tion was a gigantic success. From To Sir Josiah the first point of in turn. And for the purpose of the second, it may by many be view must naturally have coaching his Minister he seems to judged to have been disastrous; first. It is from it, really, that he

As pronounces his encomium on THE BANK OF TAIWAN, LTD. have listened during that period to from the fourth, catastrophic.

achievement. practically every debate on financial for the third, no system which, e,g., fiscal

The other questions in the House of Commons. confers such huge premiums on points of view have crept into his History and Criticism. bachelordom, immorality, and child-thought later and, save the second,

(Continued in Next Column.) (only fitfully appear there.

(TAIWAN GINKO.)

HEAD OFFICE:-Taipeh, Formosa, Incorporated by Special Imperial Charter, 1809.

Central Bank la Formors,

A lot of his history is an analytic summary of these debates, some- what in the manner of the "Annual Bank-Noles issued Average amount.Yon. 45,000,000 Register." To be candid, it is not

BRANCHES AND AGENCIES:

too well done. It is desultory and JAPAN:-Tokyo. Yokohama, Kobe, 'Osaka. PORMOSA Diran. Kai Karenko, Tour slipshod; it lacks complete precision

Makang, Nanto, Shinchiku, Taichu, Trina, Takso, Tammul, Toen. Hesto, Taito as to names, dates, and other de- CITINA :-Shanghai, Hankow, Amay. Foochow tails worst of all, it entirely falls OTHERS1-Bong Koor, Singapore, Soarabara, to convey in ita course any sense of

Bamurang Belavia, Bombay, London, New York, Dairer

Swatow, Canton,

LONDON BANKERS,

Barclays Bank Ltd. Hoyds Bank, Ltd. Indland Bank, Lid., Westminster Bink, 14. The Bank has Correspondeste in sll the principal Commercial Centres throughout the world. *K. NAGUNA.

1

HONG KONG BRANCH

D. Des Voeux Road Central, g Kong. December, 1991.

FOR SALE.

Manager

f. 20,015,000 POSTAGE STAMP CATALOGUES

Head Office -AMSTERDAM". Eastern Bad Oce~~~BATAVIA,

Henches:-Bandjermanin. Bandoway", Bombay, Calcutta, Cheriboe, Djacaber.. Djok Jakarta, The Hagua, Jih, Kobe, Poke Maks. Medan, Falambang. lougue. Pansy, Baagoon, Rotterdam", Semarang, Shanghai, Singapore, Bourn bale, Coerakarta (Balo), Tegal, Tylerjep and Weltevreden”.

• The attoes have Sale Drpon!: Bazas in Les

LONDON DANKERS :—

NATIONAL PROVINCIAL BANK LTD.

Correspondante all over the world.. Banking 'Bust- naw of stary descripties irantasied.

L. STOKKINI. Hong Kong, 21st June, 1932.

THE

Meas

FOR 1932

from

STANLEY GIBBONS

Part I. Part II.

..$5.25

.58.00 .$6.00

Tvert & Tellier Scott Stamp & Coin Co. $8.00

GRACA & CO., Dealers in Postage Stamps, Garden Seeds, Philatelic Goods, etc.

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

We also handle the issue of Bonds AMERICAN EXPRESS COMPANY, COASTWISE

and other Public Funds of the Chin-

one Cavernment 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 Ten 117,800,000 Reserve Fund.

Head Office:-YOKOHAMA.

· Branches and "Agencies (ati

Alexandria

Batavia

...Berlin

Bombay

Calcatta

Changchad

Dairen (Dalny)

INC.

Head Office: 65, Broadway. New York.

Capital

U.S.$8,000,000.00 Surplus

..U.H.$1,892,882.04 Reserves .......U.8.$1,468,116.73

BRANCHES:~-

Amoincian

Deska

Barrila

Chec Olagow Havins Hamburg Havva

foru Lido

Kaplow Pres

Fyling

Bu Are

Liverpool

Ble boul

Oslo

Nagasaki

Calpatio

Nagoya

Cena

Newchwang

New York

·Osaka

Parla Felping Rangoon

Loom Engana

Salemba Marveliler Constantlaupla Monte, Carlo

Mamils Mandok,¦

Miten

Yakobamen

San Fernalsco

Seattle

Fengtien (Mukien) Rio de Janstro Hamburg

Semarang Shanghal

Shimpaorald

apore

Sydney

Ciantsin:

Toryd K

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

.

*All classes" of Commercial Banking

Transactions' undertaken,

@Personal investment- handled, WANA

Company

Härs the use of its

#addition, the worl

its thoroughly equ

by

ALGIE" BENNETT. An interesting book of Cartoons depicting "Happenings" on the China Coast,

PRICE $1.00.

Now on sale at BREWERS WHITEAWAY, LAIDLAW EXCELSIOR BOOK STORE. and at the Publishers,

The Newspaper Enterprise Ltd. China Mail Building.

YESTERDAY'S SOLUTION,

H DELE

ALE UND

JAUDAUN TAE

BOLZEND ARZ

ANSO NOR RHI TATAKA, TH

In wono2 BUND

TLUN OREBD

perspective. The result is mostly a jungle of Parliamentary. obiter dicta, in which big trees and little bushes all look about the same size. In short, it is raw material for his-) tory, not the finished article. One is brought to realise, almost with a shock, how much the composition of true history is an art, aince it is possible to be eminent as an ad- ministrator, a statistician, a special pleader, and even a literary essay- ist, without having begun

quire it.

DAILY CROSS- WORD PUZZLE.

[

(This cross-word puzzle has been made by an expert but our readers are toarned to look out for occasional phonetic spellings, such as harbor, plow, and altho.)

佐 15

19

3

4

15

[6

319

20

21

124

20

to ac-

26

27

128

31

133

When he passes from history to critical review our author finds his feet. His "Concluding Observa- tions" carry obvious authority, Bo- yond challenge, he thinks, the tax system of Great Britain stood the shock and the expansions better than any other.

"The broad policy of providing in additional permanent taxation en- jough to meet the post-war debt charges was pursued with success, and a substantial additional sum to- wards war costs from special taxes was also raised. The fact that post-war errors of judgment | several to discount the effort made is beside the mark.

It is true that taxes ought to have been-wisdom after the event- excess profits duty Introduced raised at the outset of war, and the earlier; the munitions levy ought never to have been introdticed at all. But these are small matters besides the main achievement."

Excess Profits Duty. The corner-stone was really the Excess Profits Duty, to which al- most a third of the book is devoted. It produced in the last two years of the War nearly as much as the high war income-tax and super-tax put together, Some of this was after- wards given up, owing to Mr. Austen Chamberlain's deciding, in 1920, to prolong the duty for an- other yaar.

The tax caused prodigality among taxpayers:----

"When a clerk want a rise of 4100, it was easy to be generous since it sected the payer to the extent of $10 or 318 only, the bulk of the cost falling upon the Stats in the reduced liability to

erally, if a boon cost

worth having at 220,

to spand freely was?

* Yet Bir Josiah;

hed the utmost diffic the Cabinet

Gen

'',

37

38

1393PTO

42

#6

- ' 'ཐཱ

151

52.

153

156

SE

[6

Horizontal.

1. An elevation of the earth's

surface.

5. To discontinue.

9. To mill, as a COLU

11. A correlative of "that."

12. Toward a higher place.

Samx

denoting act, atatə

or Agent

16. Part of the leg. 17. Prefix"Ewa". 13. Prefix "not"

20. Division piece between win-

22. Coal-scuttle.

23. Desting.

25. The comparative of "much.”

Clown.

27. Ambassador (abbr.).

Golf

term

30. S.W. State of U.S. (abbr.), 31. A fossil gum.

The English navy... (abbr.).' 34. Mother

Girl's

name.

Musical note. Exposed to the air, Roman' number,

dl. To steer closer to the wind.

Vold (almple spelling), #

An ancient, Inhabitant of

Shred o

EX

4:51. Between hwn and noon.

Vertical.

1. Pile of earth.

2. Prefix-not.”

3. The head (slang);

4. To prune.

5. Part of the face.

6. German for “one.” 7. Lite

B. To strike out, as a vowel,

10. Flashy.

11. Personal pronoun.

18. Deep place in a straRII,

15 North latitude (abbr.). 16. Musical note.

17. Noted French artist

(1888-1883)

19. Twelve o'clock.

21. Young farm animal.

Hardianimal, fisané,“ 22. A 24. To preserve, by drying. 25. A state of Crecho-Slovakia. 27Vehemently.

28. To give a sloping edge Bir Female servant

82. A colour 80. Darkness 8

gloom,

38. Dverthrow

Narrow path.

dí. Zayatem of

measures

As To make wide.

46. Har

47 Snow (Scot

58.

·Old-name

(India).

our!

THEIR original glon unimpaired-their leather kept supple-shoes, that have their daily clean- with Kiwi keep as new as the first day you wear them

Kiwi contains special in- gredients that preserve the finest leather, keeping it waterproof and wear resisting twice as long.

In black and all shades of

tan.

KIWI

KIWI

BOOT POLISH

Agents:-W. R. LOXLEY & CO.

PHOTO-SUPPLIES

Kedaks and CamSTAR.

Films, Pistes and Papers, etc. Developing, Printing and Enlarging.

ZIESS and BUSCH FIELD GLASSES.

Price Madarsta.

A Trial Order in Bolletted.

A. SEX & CO.

Tai No. 28459, 26A, Der Voeux Road, C. Hong Kon

ALEXANDER INSTITUT

DE BEAUTE

Phone 25169. Pedder Building (lat Flour)

› Opposite · Entrance ta- Hong Kong Hotel

Lustrous Off, Permanent Hair TAVU which are "Large): Boft and Natural Artistic Vingar) and Marcel Ware, od

(any colour) Hair Cutting and MENN sure for Ladies und) Gentleman scientious,

CHARGENTY

TELE CONVENCH TOU.

OPEL

Heng Lear IKK