1932-07-07 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION,

Iwed and Fully Paid-up

Authorised –Capital songs

£6,500,000 #15,000,000

Esserre Vund#:---

Sterling m

Silver

Di

$50,000,000 20,000,000

Reserva Llability of Proprietom..... $20,000,000

MEAD OFFICE, HONG KONG.

BOARD OF DIRECTORS:

tion. Mr. 3. J. Palamos

Chairman

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

THE HO HONG BANK, LTD.

(Established 1917.)

SINGAPORE.

13, Queen's Road Central-

THE CHINA MAIL.

HEAD OFFICE

LOCAL BRANCH:=

Authorised Capital Straits $20,000,000

Issued Capital ....

8,000,000

Pald-up Capital ....

4,000,000

Shareholders

4,000,000

Incorporated by Royal Charter, 1858. Reserve Liabilities of

BRANCHES and AGENCIES in the principal cities of the world.

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

HEAD OFFICE: LONDON..

Paid-up Capital

Reserve Fund

Reserve Liability of Pro-

prietors

..£3,000,000

Agencies and Branches:

ALOR STAR

T. Fearon, Esq. :-

AMBITSAR

IUCHINO

Deputy Chairman.

BANGKOK

MADRA

DATAVIA

MANILA

J. A. Plama

Baj

BOMBAY

HRDAY

PRIPINO (Paking)

Boo, Hr. W. H. Ball,

... Comploe, Esq. M. T. Jokinen, Esq.

T. II. I. Shaw, Eng.

3. P. Waros, Bag,

V. K. Graybuss, Eng.

Călar Managi

3

BRANCHI

LONDON

JALOUTTA CANTON CAWNPORK D'EDU COLOMBO DELHI

HAIPHOND

NEW YORK

PENANG

RANDOON

SAIDON

SEMABANO

KERENBAN

SILANOHAL

SINGAPORE

MITIAWAN

MOT

BANGKOK BATAVIA

LYONK

MALACCA

DOMBAY

MANILA

CALCUTTA

MUAR (Johor)

MUKDEN

NEW YORK

PEIPINO

CANTON CHEFOO COLOMBO

DAIREN

*UOCHOW

HALFHONG

HAMBURO HANKOW

HARIN AONOKEW

110110

Pou

JOHORE

КОДЕ

KOWLOON

KUALA LUMPUR

PENASO

HAN PRANCIROO

BASODON

SADION

SHANGHAI

SINGAPORE

БОСКАПКА

TIENTSIN

TOKYO

BUSORI PATAN!

THINGTAO YOKOHAMA

Current Arvonta opened in Local Currency

and Fixed Deposite tresived for one year of short periods in Local Company and Sterling on Lerma which will be grated application. Hong Kong, 5th Aprit, Juht:

HONG KONG SAVINGS BANK.

Yse Business of the above Bank is oonducted

by the 1100 KOND AND BIANGHAI BANK- 180 CORPORATION. Bul way be obtalard

application.

FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION.

Y. M. GRAYBURN,

Okaf Mange,

Hong Kong, 27th February, 1933.

THE BANK OF CANTON, LTD.

Established 1912.

Head Ofce-Hong Kong.

Authorised Capital (II.A. Gusruacy)...$11,000,000 Pald-Up Caps

Besarré Find man

Cantou,

8,545,000 1,100,000

Shanghai lauków, Swalk,

BRANCHES :-

Hew York and San Francisco,

DON BANKERS

The Lloyd's Bank, Limited.

CORRESPONDENTE

In ali principal cities of the World.

Foreign Exchange and banking business of

every description transmeted.

Bela Deposit Boxen (various sizes) si a pearly

rental of Troon 5 10 $40.

LOOK POONG SEAN,

Chief Manager.

THE BANK OF CHINA.

行銀懷中

Reorganised October 20, 1929, under

special charter of The National Gov- ernment as an

INTERNATIONAL EXCHANGE

BANK.

Subscribed Capital

Paid-up Capital

Reserve Funds

....$25,000,000.00

-$24,710,200.00

..$ 3,620,503.82

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 ellents special facilities for domestic and foreign banking and exchanges.

KO LEONG HOE, Managing Director.

THE NATIONAL CITY BANK OF

NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Surplus and

Undivided Profits U.9.6225,508,775,00

ARGENTINE LONDON

HAMBURG

BELGIUM

HANKOW

BRAZIL

HARDIN

HONG KONG

SOURABAYA

CHILE

ILOILO

TAIPING

CHINA

TIENTHIN

COLUMBIA

TONGKAR (Debeli

TRINGTAO

CUBA

YOKOHAMA

ZAMBOANGA

[201

KARACHI

KLANG

KORE

KUALA LUMPUR

Branches in

MEXICO

PANAMA

DOMINICAN REPUBLIC

Foreign Exchange and General INDIA

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.

!

Manager.

J. STUART,

Hong Kong, 11th April, 1982.

PERU

PHILIPPINE

ISLANDS ISLA PORTO RICO STRAITS

SETTLEMENTS

URUGUAY

VENEZUELA

Commerce and Finance.

Britain, Stays Her Lending Hand

Austria's Appeal For Loan Refused

FOLLY

OF BEING GENEROUS

BETTER TO ASSIST IN FINANCING OUR OWN EXPORT TRADE.

THURSDAY, JULY 7, 1932.

MANCHESTER WEEKLY MARKET REPORT.

Lower Levels.

WORLD CONSUMPTION DISAPPOINTING.

www.y

LOCAL DOLLAR STEADY.

No Change in Previous Quotation.

The Hong Kong dollar remained unchanged at 15. 3. yesterday. There was a slightly easier under-

Prices during the past week have tone to the market, with very little touched further low levels although

business passing.

Silver was unchanged in London, recently there has been a slightly where China banks bought and firmer tendency, It would be as sold. There was small business well to realise that this weakness on a steady market. After the official fixing, the market ruled has not been due to any new factor, quietly steady, with America hold- but has been more especially the ing off.

result of the disturbed Interna. New York reported a decline of |tional situation. There has been fre- quarter in silver, with the mar-

quent talk of one conference after ket easy.

The cross-rate "was down to another, but traders are now losing confidence in discussions of this 3.542. kind, and look for something more concrete. It is most probable that within the next week or two crop reports from America will have a

No surprise will be caused by Indeed, some of the State have more vital effect on prices. The

LONDON SILVER PRICES.

London, Yesterday, Closing silver prices in London

erclat and Travellers' Letters/ Great Britain's refusal, announced contributed in no small dagree to plants are certainly doing well alto-day were:

Curred on application to the Bank. Į

Spot

July 5 July 6. 16% 18-9/16 18%

Forward 16-11/16 The London on New York cross

Pro-rate was quoted £1-G$8.56.

CANTON EXCHANGE.

of Credits, Travellers' Cheques, Bills recently, to guarantee any further their present predicament by a though the growth in certain parte of Exchange and Cable Transfers loans to Austria, that impoverish- number of unwise and unnecessary is still rather late. One estimate bought and sold. Current accounta and Savings Bank accounts opened and ed country having made a renewed restrictions on international trade, puts the acreage reduction at about Fixed Deposits in

local and foreign appeal to the League Council at which they have thus helped to 10 per cent. although other experts

bring to an almost complete stand-reckon it about 7

per cent. taken at rates that may be Geneva for assistance.

the weather continues The British, French, and Italian still. These measures have com- vided

'favourable there is every indication We are also

are also able to offer our Cus-! Governments have also protested prised: tomers the services of the Branches

1. High tariff barriers; the of a substantial yield even on the restriction and prohibition of im- reduced acreage. From a statisti- porta; the imposition of quotas, cal point of view world consump-quoted at the Chinese Exchange ex- tion has been rather disappointing, here last evening at 54.85 per cent. changes; ie, on the payment of deliveries to spinners being only while Hong Kong dollar notes in exporters in their own currencies, 177,000 bales compared with 190,000 exchange for Kwangtung aliver or sound currencies.

bales for the same week last year. were at a premium of $438. for each 3. The maintenance of the or- Owing to general conditions in $1,000. thodox Gold Standard as the basis outside markets being unsettled it of their currencies.

of the International Banking Corpora- against the threatened suspension THE NATIONAL COMMERCIAL & ton' in Spain and also of The National by Greece of the service of her

City Bank of New York (France), foreign debt. S.A., in Paris and Nice.

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

R. M. MCLAY,

Manager. Hong Kong, May 18, 1932.

It may be recalled that the Lea- gue's own Finance Committee had previously advised that advances should be made to a number of

THE BANK OF TAIWAN, LTD. Danubian Stater-Austria, Hun-

(TAIWAN GINKO.)

HEAD OFFICE:-Taipeh, Formosa. Incorporated by Special Imperia? Charter, 1899,

Central Bank in Formon

BRANCHES AND AGENCIES:

garia, and Greece-for the purpose of enabling them to overcome their present financial difficulties.

Britain's Decision

2. Restrictions

од

Clinging to Gold.

the

is not an easy matter to forecast a

view of the market, but there is every justification in trading on pre-

These measures have reacted in sent low prices. Cloth enquiry!

Of

has

There has been a good deal of a prejudical and unfair manner on has remained fair, and although the Hank-Natos lieved Avatage import Yea. i6,000,000 criticism of the course advocated by a British exporters, whose markets turnover has been small on ac the League Committee in competent are restricted; and who cannot ob count of the weaker market, there EFFICIENT-TRUSTWORTHY-JAPAN:-Tokyo, Yokohama, Robs, Craka.

| POTIMOSA :—Glean, Kagi. Karenko, "Kelas, circles in London. The members tain prompt and satisfactory pay- has been encouraging offers. RELIABLE COURTEOUS,

Wakong, Nanto, Shiachiku, Trichs. Tal of the Committee, although original- ment for the goods supplied; while the Indian markets Calcutta Takso, Tamul, Toan, Helin, Talla, CHINA-Shanghai, Hakow, Amay, Foothowly appointed by a Council of Govern- the service of the loans and credits enquired for a few dhooties, whilst

Swatow, Chaloo,

as the previously made to Austria is now Karachi and Madras have been in- OTHERS--Hong Kong, Blagapore, Boerebajaments, are not appointed

Semarang, Dataria, Bombs, London, New representatives of the respectiva threatened with a complete mora.terested in mulls and jacconets. Dyed goods have been done for the Treasuries, but as "independent ex- torium.

upcountry markets but printed perta"-so-called.

That some restrictions on the ex style remain slower. This gives them a freer hand in changes would be justified is ad- made a few tentative bids for greya regard to any recommendations mitted. But the most competent and whites but fancies have been they may wish to formulate.

But, British. authorities are of opinion in poor as again this,

144-150, Des Voeux Rd. C.

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

(NETHERLANDS THADING SOCIETY)

HANKERS.

Established 1924.

flog Kong Ofte -17, Queca's Road Cantza!.

Reserves

LONDON BANKERS:

York. Dairen, Darclays Bank, L., Lloyds lank, Ltd.- Midland Bank, Lid. Westminster Bank, Ltd. The Bank has Correspondents is all the principal Commercial Centres roughout the world. K. KAGURA,

HONG KUNG BRANCH:

Des Varuz Road Catal. Hong Kong. December 2, 1881.

FOR SALE.

Mazinger

POSTAGE STAMP CATALOGUES

Authorized Capital Paid-Up Capital

.f, 150,000,000 ... 80,030,000 ... 20,015,000

Part 1

Head Ofte --AMSTERDAM”. Elora and Omon:-LATAVIA,

Djak.

Branches (~Bandja:mwain, Bandoons" Bombay,

Calcutta, Cheribon, Djember, jakarta", The Hague, Fiddek, Kobe, Makassar, Medan, Palambang, Peka Longin, Penang, Rangoon, Batterden Semarang, Shanghai, Bingapore. Boers bela, Somrakarta (Solo), Tegal, Tillatjop saf Waltevreden”,

• Those offices bars Sale Depult Boxes to Let.

LONDON BANKERS:-

NATIONAL PROVINCIAL BANE LID.

Correspondents all over the world. Banking Busie | nose of very description treated.

A. STOKKINE,

.Hong Kong, 21st June, 1982.

THE

Mazago

We also handle the issue of Bonds AMERICAN EXPRESS COMPANY,

and other Public Funds of the Chin-

660 Government both at home and abroad.

‚U.S.$6,000,000.00

. U.8.$1,882,832.04 .U.S.$1,458,116,78

INC.

SHOU J. CHEN,

Manager,

Head 0ce-65, Broadway. New York.

Hong Kong, 5th March, 1981.

•

Capital

THE YOKOHAMA SPECIE BANK, LIMITED.

Surplus

Reserve

Established 1880.

BRANCHES

Amatoriam

Capital (fully paid-up) Yen 100,000,000 Yes 117,800,000 Reserve Find

Autric

Beals Barila

GERSOL Glasgow

Nos. Kopier

Hans

Alexandria

Nagasaki

Batavia

Nagoya

Barin

Nowchwang

Bombay

Brosiela Boston Air" dvergood Didiri Delouti

Colombo

Hanking Harro Interlaken Zaradi Lido London

Păreros Parts

Palermo,

Lausan Logo Leade

Bombay

New York

Monte Carlo Manlia

Calcutta

Osaka

THAM

Canton

Parin

Changchun

Felping

Genera

Dairen (Dalay).

Rangoon

Hamburg

Beatdo

San Francisco

Harbin

Head Ofice—YOKOHAMA

Branches, and Agenclen at:

Fongtion (Mukden) Rio de Janeiro

Hong Kong. Honolulu Karachi

i-Yuen

Kobe

London

Semarang

himonoseki

Singapore

Boerabaya Sydney

Alentela

Los Angeles Manila

Tokyo

Inte

Hong Kong 11th March #193

Mondresat Migh

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

"All claisse ́ ́ of Commercial Banking Transactioris undertaken;

Personal investman

handled

The”. Company. Travellers the use

Cand: Lettera don the

FOR 1932

from.

STANLEY GIBBONS

..$5.25 .$8.00 :.$0.00

Part II. Yvert & Tellier Scott Stamp & Coin Co. $8.00

GRACA & CO.,

Dealers in Postage Stamps, Garden Seeds, Philatelic Goods, etc. No. 10, WINDHAM STREET,

HONG KONG PO. Box No. 620,

PHOTO-SUPPLIES

Kodaks and Cameras, Films, Plates and Papers, etc. Developing, Printing and Enlarging.

ZIESS and BUSCH FIELD GLASSES.

Price Moderate.

A Trial Order is Solicited.

A. SEK & CO.

Tel No. 23459. ZEA, Des Voeux Road, C. Ho Ko

COASTWISE

ALGIR " BENNETT,

An interesting book of Cartoons depicting "Happenings on China Coast.

PRICE $1.00.

KAWAY, LAIDLAW

FOK STORE

China has

Biso

demand. Rangoon and that the present restrictions are Java have done a nice business They lack the sense of respon unwarrantably drastic and exten-chiefly

in speciality styles sibility towards the national sive, and call for immediate and Egypt and the Near East have taxpayers, which must of neces- thorough-going readjustment. booked white goods. A small trade sity attack to Treasury represen- Similarly, our experts hold that we has been under consideration with tatives, !

should be doing both the debtor the African outlets for stock prints. They are, for the most part, ban countries and ourselves a dis-ser- kera of note, with a sprinkling of vice by endeavouring to bolster up economists, and they naturally in- a purely arbitrary and artificial cline to take a purely banker's view. standard of currency, in countries This is of special significance when which are at this moment in no it is borne in mind that so many position to sustain it. Western banks are heavily involved | by their participation in earlier loans and credits, now "frozen," to. the countries in question or at least to some of them.

Largest Creditor.

Greece, at any rate, has had the wisdom to listen to British advice, and to abandon the Gold Standard.

Nor has her financial administra- tion been guilty of the extrava- gance with which some of the other The normal procedure when debtor nations have been charged. countries to whom external loans:

The height of absurdity is reach- and credits have been made bred when a virtually bankrupt State foreign banks and investors find like Austria insists on clinging, or themselves in difficulties, is for is pressed by other Governments the borrowing Governments and the than the British to cling, to the Gold foreign bankers and bond-holders Standard, which Britan herself has to come together. Then, indepen- deemed it expedient to suspend, dently of the Governments and tax-with reaultant advantages. payers of the lending countries, they can seek some compromisa about a reduction of interest, and, Moreover, at this critical turn in) |possibly, of capital values.

our financial history and in the

Self-Help First

On this occasion, the Govern-economic history of the British ments of the lending countries are Commonwealth of Nations, our urged, and even pressed, to inter- Arat consideration is bound to be vene, in order to guarantee, at the the development of British and eventual expense of the national Empire trade. What capacity Bri- taxpayers, fresh loans and 'credita. tain still possesses for lending Britain, it cannot be too much abroad should be devoted in the emphasised, has been responsible main to the financing of our export in the past for by far the largest trade:

proportion of the advances made. Thus it will be seen that the She has lent more than twice British Government is well justi- what France has lent to the coun- fled in declining to be rushed into tries already named, and to other a guarantee of loans and credits! Central European and Balkan for the distressed States of Central States. In the case of Austria, the and South-Eastern Europe. Be- British share of financial sesistance fore such financial assistance can

be given, the obstacles to interna has been considerably higher.(0)

It was announced some weeks ago tional trade, and in particular to In the House of Commons that, in British trade in that area, should regard to the Beconstruction Loans, be removed or reasonably curtailed; promoted by the League of Nations for some of these countries," "the" British participation had been close on 240,000,000 sterling, as against a participation of £2,000,000 by Francestraising Muat

Ing the circumstances, it is only. right that the British Government should hesitate to commit the British taxpayer even for further adv

The Treasury ven to consi

© GROME RHO

UP DAOR ROTE LED ANECALS UNS TIARĄ BORNE

SORT

IES OUN NAGNE

CORREA D RI

PROVEDEI

RENOVE ADELE HON

RISHI RADEM NET PAESION ALT BIZON

HORITY ROMEN

Canton Central Bank notes were

YEE HING

(TOMEY & CO.)

62, Des Voeux Rd. C.,

.Hong Kong.

SUMMER SALE.

NOW ON

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

GREAT REDUCTION IN PRICES.

NEW

OPEL

The Dragon Motor

Car Co., Ltd.

DAILY CROSS - WORD PUZZLE.

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

13

10

12 13

17

18

20

22

25

15 16

7

33:34.

137

HORIZONTAL (1-Heathen #

+ B-Worthless planta.

·0-A gam

11-A vigstable 12-Nur

14-Bind

·15-A propallor.

15-You, and I

17-Head covering 19-Work WEL

- 21-Gostobon s

22–troland (Post.) 24-Kitchen utonall

· 25-Tastes,

25-5st of worker

30-A rodant 2): 32-602: (Roman)

3-Locked aly

39-Hindere

(RL)

HORIZONTAL (Cont.) 48-Abiad |49+8ale (Latin) 60-Grimson

42-Preposition.

182-A oord |54-Abound

|56-A watarud alik

fabrie

NEVERTICAL 1-Fresdom from www.disturbance

2-Rapart 3-8kilful 4-Fasten

6-To Impair by use Organ of hearing 7-Half an am

·B-štenky parts of a

umovs by

rubbing slightly

of the above wit

VERTICAL (Cont.)) 18-A piatry. 20-Marah

23-The nostrila

25-Agitates

27-Defac

29-Intact.eng

31-An edifice dedicated to Christian pubila worship; [33-Reclined;

34-Befara,, [35–Female, daar 37-Imitats MMA 36-A short labored