1932-07-23 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

$30,000,000 Buthorised Capital · AS

rud a Felly Paid-up 30,000,906 Baserra Funds to

Beerling

£1,500,000 .....$10,000,000

Mamerve Liability of Proprietore (20,000,000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

THE HO HONG BANK, LTD.

(Established 1917) ·

HEAD OFFICE: SINGAPORE:

LOCAL BRANCH:-

13, Queen's Road Central

THE

CHINA MAIL.

Authorised Capital Straits $20,000,000 | Issued Capital

8,000,000

Paid-up Capital

4,000,000

4,000,000

Incorporated by Royal Charter, 1853. Reserve Liabilities of

HEAD OFFICE: LONDON.

Paid-up Capital

STRAD OFFICE: HONG KONG.

1

Reserve Fund

23,000,000 £2,000,000

Reserve Liability of. Pro

BOARD OF DIRECTORS—

prietorn

£3,000,000

Agencies and Branches:

ALOR STAR

AMRITSAR

KUCHINO

MADRAS

MANILA

BANGKOK

Hoa Mr. J. 1. Paterson,

Chairman

T. E. Pero, Esq.

Deputy Chairman.

Hon. Mr. V. II. Ball,

& E. Compton, Eaq. M. T. Johnson, Eaq»,

ΜΟΥ ПАНОЛОВ HATAVIA

BOMBAY

CALOUTTA

F. A. Flummi

J. P. Warren, tog

V: K. Grayburn, Zaż- Chief Manager.

BRANCHES-

LONDON LYONS MALACCA MANILA

MUAR Johor)

MURDEN

SEW YOUR

PEIPINO

PENANG

KALPHONO HAMBURG

HARBIN

HUNG SONG

ILOILO

TROT

KARACHI

KLANG

HANKOW

PRIPING (Paking).

MEDAN

NEW YORK

PENANG

RANGOON

BILANGRAT

BATAVIA

Kaq.

I. I. 1. Bhan, Eng.

BOMBAY CALCUTTA DANTON OLWNPOLI CEBU

COLOMBO

SAIGON

ALEX

SEMARANG

BKARMBAN

SINGAPORE

SITIAWAN

ROUBABAYA

TAITING

TIENTSIN

TONGKAR (Bhuket)

ASINOTAO

•

YOKOHAMA

KUALA LUMPUR

ZAMBOANGA

Foreign Exchange

and

General

CANTON

CHIEFOO COLOMBO

DAINEN

FOOCHOW

RANGOON

ELAIPHONG

SAMNIN

HAMBURG

GAS PRANCISCO

KITANO HAL

KARELH

SINGAPORE

AUNDEI PATANI

BANKOW

VONOKEW

BLOO

Post

zolong

KOOR

KOWLOON

KUALA TUNPOR

KOURADYA

TIENTSIN

TURYD

ΤΑΓΚΟΙ ΔΟ YOKOHAMA

Curant Account opened in Local Currency and cod Deposita red for oS THAT OF aharlar periods in Lori Compway wad Sterling valeria which will be quotedy be application. Hong Kong. 6th April, 1992,

HONG KONG SAVINGS BANK.

1

The Breizes of the above Banà la condui by HONG KONG AND SHINOHAI BANK IKG CORPORATION, Buse any be ableland

Action

FOR THE HONGKONG AND SHANGHAI WAYEING CORPORATION.

7. M. OBATBORS,

Chat Menag

Hong Kong, 27th February, 1932.

THE BANK OF CANTON, LTD.

Established 1912.

Head Office-Hong Kong. Authorland Capital (1.E. Currency)...$11,000,000 Tall-Up Capital

Mr Pund

BRANCHES

Canton, Bhaughal

005,000 1,400,000

akow, Siwalow, Bangkok, New York sad. Rag Pranowo.

LONDON BANKERS-

The Lord's Bank, Limited.

CORRESPONDENTS

E all principal cities of the World.

Porsiyo Eachangs and banking busicians

rary description tressed.

Bale Tieposit Boxes (varon las al u Jaszły

eveal of Iran $5 is $40.

LOOK POONG SHAN,

Chief Manager:

THE BANK OF CHINA.

行銀國

Reorganised October 26, 1928, under special charter of The National Gov- eramont as an

INTERNATIONAL EXCHANGE

EANK.

Subscribed Capital ·

Pald-Up Capital

...$25,000,000.00

.$24,710,206.00;

.$ 3,820,603.82

HEAD OFFICE: SHANGHAI.

Reserve Funds

HONG KONG BRANCH:

4. Queen's Road Central.

2001

Banking business transacted.

Shareholders

BRANCHES and AGENCIES in the principal cities of the world.

Every description of Banking and Exchange business transacted.

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.8.$225,503,775.00

Branches in

ARGENTINE

LONDON

BELGIUM

MEXICO

BRAZIL

BAZI

CHILE

CHINA COLUMBIA

MINICAN REPUBLIC

Current Accounts opened and Fix-INDIA

ITALY

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

Manager.

A. H. FERGUSON,

Hong Kong, 8th July, 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 HESOURCES

PANAMA

PERU PHILIPPINE

ISLANDS

PORTO RICO

STRAITS

SETTLEMENTS

URUGUAY

VENEZUELA

Commercial and Travellers' Letters

Commerce

Finance

Flow Of Extra Gold To France And U.S.A

Sir Josiah Stamp On Gold Standard

RELATIONSHIP BY QUANTITY IS ALL-IMPORTANT ·

SATURDAY, JULY 23, 1932.

SHARE MARKET;

Weekly Reports by Brokers.

`G. A. HARRIMAN.

୮

over.

FRENCH QUOTA ON

BRITISH OIL

“Appeal Against Latest

Reduction..

Parte, July 5. The British coal import trade in France is topsy turvy a a result of the latest reduction of the quota from 70 to 60 per cent.

the

Hong Kong, July 22. Mr. G. A. Harriman's weekly share report and market review

British coal importers are further issued at noon, states:

handicapped by the fact that Great The further setback in prices Britain alone of the countries ex- during the week under review was porting coal to France is still sub- inclined to attract more business ject to the system of import licen- and a fair turnover was done in ces. One after the other Germany, popular counters like Cements, Poland, Holland and Beiglum have Lights, Hotels and Realties which obtained the removal of the licenco changed hands freely for cash and nuisance. They have to keep with- forward deliveries" at declining in the quota but can distribute the rates. Raubs were in strong de-sale of their coal as they choose. mand at $88, after business done at In the case of Great Britain this figure further sellers were hard channels through which coal Bows to find under $381⁄2. The invest-are still commanded by the French Sir Josiah Stamp, a great authority on economics and a prac ment section however was very authorities.

Importers of British coal in this tical business man, in this article, states that the first essential in steady with Trams in strong de-

mand at $2245 cash. Electrics country have taken the matter up the gold standard, is that the price of a thing is its equivalent in gold. were also wanted at $72, but no They maintain that the quota sys- If the total production and the total gold available as the beals' sellers could be found under $72.75 tem is illegal, as being imposed by of money remain reasonably matched, then world prices will re- and then only in small quantities, decree instead of being voted by Landa were quiet but steady around Parliament. They consider the main reasonably matched, fairly stable, and prices in individual $77%. The sterling section Was latest coal quota reduction to be the still more illegal since it was de- of Credits, Travellers' Cheques, Bills countries will fluctuate closely round world prices. But if any large practically unchanged

week, although a few Banks were creed by a government whose power of Exchange and Cable Transfers part of the gold gets into a position where it is no longer used as a done at $1,680/1,600, and Unions at of action is confined to

"current Current accounts

$458/67. After being rather weak business." The case has been sub- and Savings Bank accounts opened and basis of money, the effective world stock of gold becomes less.

at one period the market appears to mitted to the Consell d'Etat, the "Generally speaking, when new by tariffs, and the desire to prevent be steadying up towards the close, tribunal for adminstrative law.

are still well

It is estimated that the price of We are also able to offer our Cu-gold has been easy to get, through a national rise in prices because of although some rates tomers the services of the Branches new mines, it has been less valu- the risk of speculation and infla under the preceding week's lowest coal in France has increased all and it is more than likely that a round by fifteen per cent, since the & of the International Banking Corpora able, and more of it has had to tion.

tion in Spain and also of The National

"Similarly, the standard pre- strong reaction will set in after the quota was first imposed last Novem City Bank of New York (France), be given for other things, so that

The ber-Reuter. S.A., in Paris and Nice.

their price has risen, although no supposes a fluid, or at any rate Settlement on Tuesday next. thing has happened to the produc- supple, response of money wages tone of the market locally and to a tion of those other things. For and costs to changes in price certain extent in Shanghal ale, is

Continued from previous Column. the price of a thing is its equi- (though it does not presuppose any brighter.

Banka-Hong Kong & Shanghel wanted at $9. Lands have re- valent in gold, and that is the first marked changed in real wages), essential of a gold standard," says and if money wage payments do Banks remained steady, shares hav-mained the same at $78. Although THE BANK OF TAIWAN, LTD. Sir Josiah Stamp.

not readily move up and down and Ing changed hands at $1,580/600 Realties steadied up early this week (TAIWAN GINKO.)

"People think, naturally, when the wage structure is rigid, as it Bank of East Asias continued quiet they could not hold their own and have declined "as sharply as the the price of a thing rises or falls is in this country, then the standard with sellers at $112.

Insurances-Cantor. Insurances other speculative shares and there that it is due to something chang-is jammed again.

had enquiries at $1,300. Unions are now a few possible buyers at ing in the demand for, or supply "When gold prices fall, if costa improved a little and were transact $10.75 sellers asking $10.90, shares of, that thing. So it may be, but in the export trades do not 80ed at $458/67. China Underwriters changed hands at $10.75. equally it may be that the thing down, the export trades cannot ex-

Cotton Milla: Ewos have im- has not changed at all, but that paned to correct the adverse trade. were on offer at 85.20.

Shipping-Hong Kong Steam- something has happened to gold,

proved slightly and there are buyers boats continued in demand at $202, at Tls. 13 with sellers, at Tis. for which it is, in effect, being ex-

scarce. 18.60. changed. But people find it very

$19,000,000 EFFICIENT-TRUSTWORTHY—

RELIABLE COURTEOUS.

144-150, Den Voeux Rd. C,

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

NETILERLANDS TRADING SOCIETY)

BANKERS.

Established 1824.

Hong Kong Offee:-11, Queen's Road Central,

Authorized Capital.....f. 150,000,000 Paid-Ur Capital ..1. 80,050,000, Reserves

....... 20,016,000 Head Office:-AMSTERDAM”, Exista sad OM041–BATAVIA,

Branches :-Bandjermania,.. Bandoang", Bombay,

Calcutta, Chriban, Dismber. Dick lakaris". The fingar", "Jiddah, Kobe, Kaiser, Medan, Palumbong, Peka langan, Penang, Rangoon, Hettárdam", Semarang", Bhanghai, Elzgapore, Soara- bali, Goerakarta (Solo), Tegal, Tatjap and Velievredes","

*These offices kara Bala Deposit Boxus to Lei.

bought and sold

Fixed Deposits in focal and foreign

currencies taken at rates that may be ascertained on application to the Bank.

Manager.

R. M. MCLAY,

Hong Kong, May 18, 1932.

HEAD OFFICE:-Talpeh, Formosa. Incorporated by Special Imperial Charter, 1899.

Central Bank in Formos.

Bank-Neton haurd & varsge outer. 45,000,000

BRANCHEB AND ASHNCIES: JAPAN-Tokyo, Yokohama, Bob, sake. FORMOSA-ÜSTAD, Kagi, Karenko, Bluss Mekong, Neto, Shocks Tuican, Trissa, Tito. Tara, Toen, Helio, Talla. CHINA: Bnghai, Elmaker, Amoy, Fochow,

Bratow, Canton, OTHENB-Kong Kong, Blugspore, Bourabaya, Semarang, Batavia, Bombay, London, New York, Daron,

LONDON BANKERS ·

Barlays Bank, Ltd., Lloyds Bank. Ltd. Midland Bank, Lid, Wamlaster Bank, Ltd. The Best has Correspondeals in all the principal Commercial Centtw throughout the world. K. NADURA.

ПOG KONO BRAKCH-

, Dos Vorox Nod Central Hang Kang. Locamber H, 1981.

Малитет

4.

hard to think of price in this way. INDUSTRIALIZATION

"We know that, the sun does not

go round the world daily, but that the world spins on its axis, yet in. stinctively for ordinary purposes we regard the earth as still, and the sun as 'rising' or 'setting' and moving across the sky. Now you will see that, price being the equi- valent value in gold, it is very de- pendent upon the quantity of gold

IN URALS

New Cities Spring Up.

but sellers were rather

Electrica

Union Waterboats remained un- Docks, Wharves and Godowns:- changed with buyers offering $192. China Providents have inquiries at Docks, Wharves and Godowns-$4.85. Docks are wanted at $18%. Hong Kong & Kowloon Wharves

Public Utilities: Hong Kong were in demand at $138, ProTrams are wanted at $2214 no busi- vidents (old) were rather quiet, ness is reported. Star Ferries are sellers prevailing at $4.90...

¡still wanted at $89. China Lights - Hotels and Real Estate Hotels have also declined sharply and now (old) suffered a decline and were have inquiries at $17% business sold at falling rates from $10.80 to being done at this rate. $10.15. Hong Kong Lands were have shewn no change. quietly steady, having changed hand] Industrials:—Coments have also at $77%. Hong Kong Realties slipped back and are now only in other things. And this relation

again suffered a great setback, busi-demand at $16.10 with sellers at ship by quantity is all-important

ness having been

done down to 316.30 which rate led to business. in the working of the gold stand-

$10.55. ard....

Ropes are wanted at $12.40. after Cotton no gold mines in publishes an article by a special medium of a fairly large turnover Miscellaneous:- Dairy Farms

Mills.-Ewos

shares changing hands at $12.30. England, we can only obtain that correspondent of the paper who at Tis. 18.28/.60, and more shares have buyers at $27% sellers waiting gold by selling to gold-mining has visited the new industrial cen- could probably be placed at the for $28. Constractions (old) are countries our goods and services tres of the Urals.

The writer latter rats.

THE MERCANTILE BANK OF compared with the quantity of

INDIA, LTD.

HEAD OFFICE:

Authorised Capital

Subscribed Capital

18, Ormenchurch Strait, London, EC.A.

.23,000,000 1,800,000 1,050,000 Reserve Fund & Rest. 1,217,927 BANKZES:

Paid-up Capital

The Bark of England & Midland Denk; Ltd. BRANCHES > Ipol

Bangkok

Bateris

Hands

Karachi

As we have

The

FACTORIES EXPAND

Berlin, July 10. "Berliner Tageblatt"

were the

Public Utilities.-Trams

eased

to earn it. Gold is a commodity, draws a contrast between the Urals

wanted at $6.40 after business being in international trade, but it of the present day and the pre-off a little at one time but and were wanted at $1.60 ellers at $1.70,

reported at $6.50. (New) are differs from all other commodities, revolutionary period by citing again wanted at $22.25 towards the

To-day's. Rate of Exchange:-La. for it is agreed upon as the unt- Tsarist handbook on the region,

China Lights (old) opened versally accepted commodity for from which he takes the following with buyers at $18, but closed on London 1/3/4 and on Shang- balances. If we had a tea stand-quotation: "If the Urals belong easier, transactions having been

Thai P72. ard, all our prices would be quan-jed to some other country-for in-effected at $17.50/18,00.

Forward Settlement Days-July titles of tea, and whenever a trade stance, to Germany or to England Kong Electrics remained firm with 26th and August 80th. balance had to be met between--they would transform them into sales at $72, and there were fur Every decription of Banking and Exchange bud two countries a quantity of tea something we cannot even dream ther buyers at $72%. Telephones

of The Urals would become a P.P.) had enquiries at $21.70. would have to be sent.

Bombay

Calcutta

Xou Bbani

|

LONDON BANKERA |---

NATIONAL PROVINCIAL BANK LID.

Correspondiala all over the world. Banking Bush- mass of "every description tranevoted.

A. STOKKINK, Hong Kong, 21st June, 1883.

Colomba Delki Onli

Kuala Lipli

Penung Port Louis

(Mauritius) Bangom Shanghai

Kuala Lumpur

Kuantan (Pahang

Bloola Singapore

Hong Koog Howrah

-Madras

Sourabaya

New York

Manig.

HONG KONG IRANUK,

ness transacted.

Traveller Chaqune izvued Trustee and Executorships under taken.

Owing to our numerous branches in: China and large connections in the im-3 portant commercial centres of the world, we are able to extend to..our ellents special facilities for domestic and foreign banking and exchanges.

We also handle the issue of Bonds and other Public Funds of the Chin- eve Government both at home and AMERICAN EXPRESS COMPANY, 7. Queen's Bond Oentral, abroad

SHQU J. CHEN,

Manager.

Hong Kong, 6th March, 1981,

THE YOKOHAMA SPECIE BANK, LIMITED.

Established 1880.

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

Head Offices--TOKOHAMA,

Branches and Agencļes at:

Berlin

Alexandria

Batavia

Bombay

Calcutta

Canton

Changchun

THE

INC.

Head Office:---65, Broadway...

New York.

Capital Surplus Reserves...

.U.S.$6,000,000,00

....U.S.$1,832,332.04

.U.S.$1,458,116.78

BRANCHES :----

Gos

Mina

Naples

.Yen 117,300,000

Glasgow

Bale

- Backin

Bombay Beton

Hamburg

Interfacom Jaranoiasa Lide

Nagaiaki

Bannon Ave

Nagoya

Newchwang

New York

Osaka Parlu

Pada Fondas Paiding Palermo Rotterdam

.Bijbel

Boblem Luxor

Singapor Colocso „Marsočilan B4. "Ma... Omaloniopia Moshe Dalam Tiantia

Повад

Pelping

Daires (Dalny) Rangoon Fengtien (Makde) Rio de Janeiro

San Francisco Seattle

Hamburg

Kong

Honolulu Kal-Yuen

Kirschl

Los Angeles

Semarang

Shangha

Shimonosid Singapore Boerabaya

Tokyo

Tsingta

Interest allowed on

Looion Liverpool

Masila

Cera

Branches of Ainerićan Express Com pany in Principal cities of United States of America and Canada,

All class of Commercial Banjing Transactions undertaken.

Personal

Investment accounts

on application.

Hong

"First, if the total production flourishing industrial country. Miscellaneous-Cements (comb.) INTEREST allowed on Current Accounts and and the total gold available as the But now the Urals are a hidden experienced a very sharp drop, the Fxed Deposits Baigs that may be calmed basis of money remain reasonably treasure which nobody cares about, market opened at $17.85 buyers at

J. B. ROSS,

time will come the beginning of the week and re matched, then world prices will re- But we believe a

then when this blessed region with its ceded to $16 buyers at the close. main reasonably matched world prices will remain fairly numerable natural resources will Ropes weakened a bit and were done Hong Kong, 7th April, 1882.

stable, and prices in individual enter on a new life." countries will fuctuate closely

Manage

diamonds. Proof against fire,

Centre Of The Urals.

The writer proceeds: "This Dew

It-in directed to-

at $12.80/.40. Dairy Farms chang- ed hands at $23. Constructions' (old) met with enquiries at $6.40.

Forward Settlement DaysJoly

CARROLL BROS.

Hong Kong, Friday, July 22. We have little to report, this week

speculative shares have been declin

the market has been quiet. The

LATEST INVENTION round world prices, controlled in

the scope of their fuctuation. American Chemical Diamonds.

"But if any large part of the life has started, but in a way no-26, August 80; and September 27, Those diamonds are gold gets into a polition where it body foresaw. equal to real diamonds is no lenger used as a basis of ward a definite goal. In Sverd- Specially in brilliancy money, the effective world stock of lovak, capital of the region, which lustre, hardness, ate gold becomes less, no longer is two and a half times larger than Can cut glass like real matches production, and world all Germany, works the brain of sold, water, olla eti These diamond prices must fall. So, if a flow of this new life, driving into the can be washed with soap and water gold take place to particular whirlpool of the economic, revoin-as and can be used for more than 100 shots, and is lost so far as its in- tion virgin areas reaching to the ing steadily all the week, but the Fears. Price pat carat HX1.50. pence on money and prices is Arctic." Terms Cash or GOD.

concerned, then prices do not rise purchase diamonds to the value of there, and the gold standard mech-After enumerating the factorias rates and there has been little

completed in the Urals and those change in any of them ELK.480 or more will get 20% danism does not set

to the count. Bend your orders, direct American Chemical Diamond Co P.O. Box No. 240, Penang, 8. When ordering vacation” “Think Mall.”

Those who

AN INTRODUCTORY, HISTORY

E CROOK, OBE, MAN KAY, MAGEN PAR WAL HANDYSDE, MA. He

NOW

PRICE: $1.00.

Investment stocks have: held. their

under construction, and emphasiz: Banks:-Hong Kong and Shang- "One Way Traffic". lug the speed of growth of new hai Banks have remained unchanged "Now, such a flow of extra gold rifles and the immensity of the at $1,595 nominally. National Com has taken place to France sad technical achievement, the corres-mercial and Savings Banks are still America, and it has not been pondent writes: "Already in 1981 wanted, at 87 allowed, for reasons: no doubt good the Industrial output of the Urals Insurance: Unions have advanc in those countries, to have its equalled the output of the entire ed a little and there are a few. In- natural effect on prices, which could heavy industry of Tsarist Russia quiries at $460.

at Shipping: Dongisses are in de

have increased their imports and before the war, although even diminished their exports. But the that time the Urals possessed con- mand at $24. Other shares under drain of gold from other countries siderable ind bas lowered their own price levels For worke and thus low

level. The cor

the golds

this heading

Bave come from changed. 710, according to Mining: Rauba have business

engi" repor

COMING SHORTLY TO

THE KING'S and ORIENTAL THEATRES.

One Hour With You

have remained un-

RELIA

130) 1992