1932-08-17 — Page 2

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.'

Authorland Capital

$36,000,000

Lashed and Fully Paid-up 30,000,000. Bosorvu. Pandr ----

haring

8,500,00 $10,000,000

serve Liability of Proprietors . €30,003,100

HEAD OFFICE: HONG KONG.

BOARD OF DIRŁOTOBS:—

Han, Kr. 3, 7, Paternon.

Chairsze

T. E. Peacon Zog.

Deputy Chairsan.

THE CHARTERED BANK OF 'INDIA, AUSTRALIA" & CHINA.

THE CHINA MAIL.

THE HO HONG BANK, LTD.

** (Established 1917.)-2/" HEAD OFFICE—SINGAPORE, LOCAL BRANCH

15, Chen's Road Central

Issued Capital.........?. Paid-up Capital.

Authorised Capital" Straits $20,000,000

8,000,000

4,000,000

4,000,000

|Incorporated by Royal Charter, 1853. Reserve Liabilities

HEAD OFFICE: LONDON,

Shareholders

BRANCHES and AGENCIES in the principal cities of the world.

Every description of Banking, and

£3,000,000 Exchange business transacted.

.ES,000,000

Paid-up Capital

Robarva Fund....... Reserve Liability of 'Pro-

prietors

@00,000.

Agencies and Branches?

ALOR STAR

AMRITSAR

RUCHING

BANGKOK

MADRAS

Ex

7. H. 3. 5. XIG

Mr. W... Ball,

7. A. Flumm

. H. Comptos,, Esq,

J. P. Warren, `Tag.

AMOT

BANGKOR BATAVIA

BOMBAY

CALCUITA

OANTON

CHEYDO

COLOMBO DAMEN FOOCHOW

ELALPHONO

HAMBURG

HANKOW

HARBIN

HONGXEW

FLOILO

LPOR

JOHORE

KOBN

KOWLOOK

F. M. Graybars, Xaq,

Chief Managen

BRANCHES —

LONDON

KUALA LUMPUR.

LYONS

MALACCA

MANILA

MUAR. (Johor)

MELDEN

NEW YORZ

PRIPINO:

PENAND

BANGOON

SARGON

A FRANCIB00.

:SKASOHAI

SINGAPORE

BOURASTA

KUNURI PATANI

TIENTSIN..

TOKYO

RINO1A0 YOKOHAMA

Current Arcesine opened In Local Currency and Fixed Deponiteż for ona yaa_or shorter perioda in Lowe: Company and Sterling anterns which will be quoted an. spplication Bong Kong, 6th April, 1962,

-HONG KONG SAVINGS BANK.

The Basininen of the above Back la sondanked: by the HONG KONG AND SHANGHAI BANK- ING CORPORATION, Rum May in simulaed im apylimakon...

YON THE RONGKONG AND SHANGHAI BAZEIRO CORPORATION.

V. M. GAIYBJZX,

Chief Misagot.

· Hong Kong, 37th February, 1912.

THE BANK OF CANTON, LTD.

Established 1912.

"Head Ofoe:-Hong Kong.

Authorised Capital (TIK. Currency} ...$11,000,000 Pald-Up" Capital 6,508,000 1,100,000 Her Fund

BRANCHES :-

kw

Canton, Khenga

Swalow, Bangkok, New York and San Francis

LONDON HANXES-

The Lloyd's Bank, Limited.

CORRESPONDENTS.

In all principal zitivn, of the World.

Foreign Eathange and banking builsses of,

gray descripilon tranmaèiedo.

Bale Deposit Boxes (väsimus sizes) së i amely:

rental of 'from $3 to $40.

LOOK POONG SHAN,

Chief Manager.

THE BANK OF CHINA, 行銀國中

Reorganised October 26, 1928, under

special charter of The National Gov- ernment as an

INTERNATIONAL EXCHANGE

BANK.

Bubscribed Capital

Paid-Up Capital

Reserve Funds

$25,000,000.00

$24,71 -200.00 .3.3,820,003.82

HEAD OFFICE: SHANGHAL

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 clients special facilities for domestic and foreign banking and exchanges,

We also handle the issue of Bonda and other Public Funds of the Chia- es Government both at home and abroad.

SHOU J. CHEN,

·BATAVIA” BOMBAY

CALCUTTA CANTON CAWNPORE. CZBU COLOMBO

DELHI

KAIPHONG

HAMBURG:

HANKOW HARRIN

HẰNG XÔNG

ILOILO

IPON

KARACHI

ILANG

KORE

KUALA LUMPUR

MANILA

MEDAN

NEW YORK

PEITING (Peking)

PENANG

RANGOON.

KO LEONG HOE, Managing Director.

THE NATIONAL CITY BANK OF

NEW YORK.

HEAD OFFICE: 55, Wall Street, NEW YORK.

Capital, Surplus and

BAIOON

Undivided Profit■ U.S.$208,444,512

SEMARANG

Branches Ins

SEREMBAN

SILANGHAI

ARGENTINE

LONDON

HINDAPORE

BELGIUM

MEXICO

SITIAWAN

BRAZIL

PANAMA

SQURABAYA

CHILE.

PERU

TAIPING

TIENTSIN

CHINA

TONGKAR (Dhuket):

COLUMBIA

RILIPPINE

ISLANDS

TUINGTAO

YORDITANA

CUBA

ZAMBOANOA

DOMINIGAN -

REPUBLIC

Foreign Exchange and |Başking business transacted.

General INDIA ITALY

Current Accounts opened and Fix-JAPAN ed Deposits received for one year or shorter periods at rates: which will be quoted on application,

"

A. H. FERGUSON,

Hong Kong. 8th July, 1982.

Manager.

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 SOCIETY)

DANKERS:

Extablished. 1824,

Hang Bang Office: 11, Queen's Road, Conteni.

FORTO RICO

STRAITS

SETTLEMENTS URUGUAT VENEZUELA -

Commerce and

Finance. Australia Shakes, Off Depression

Recovers By Heavy Sacrifices

RECONSTRUCTION WORK

WEDNESDAY, AUGUST 17, 1932.

GERMAN BID FOR IRISH MARKET.

Seek To Take Trade From Britain.

SHADOWS BEFORE

at King s

COMING EVENTS ADVERTISED IN CHINA MAIL. According to the Berliner Borsent

Social Functions Courier, efforts to develop the Con-Restaurant Dinner Dances

To-day Tea Dance tinental coal trade with Ireland have Repulse Bay Hotel and King's Lately begun to make progress. Restaurant.

It is pointed out that during the general strike in England of 1926 Germany increased her shipments of coal to Ireland, and the inference is that another good opportunity is now at hand. This time, moreover

Entertainmenta, She Wanted A Millionaire."

To-day King's Theatre; To-day—

Queen's Theatre; The Champ."

To-day- Central

Theatre;

It is stated, German merchants are"Another Man's Wife", in a position to sell cost of an equal To-day — Majestic Theatre: quality with the British at 2s. 6d. What Men Wanted.” a ton cheaper..

The complaint in the past has "Trader Horn."

To-day-Star Theatre; usually been that German coal could, To-day not compete, without subsidisation, "Marianne.” with British coal even in the Ger

World Theatre;

To-day Garden

had made the task of balancing the man coastal areas, and presumably "Dirigible."

Theatre;

Sydney, July 31. Implied hopes that the Ottawa

brium was in sight. The deficits must have been found if it is really "Goldie."" Conference might give momentum in the current year would be reduc being offered at such rates in to the movement for Empire bacon ed to £9,000,000, but as sinking Ireland.

Budget difficult Budget equilis some special way of price-cutting Today Oriental Theatre;

SHARE MARKET.

and eggs for British breakfast funds amounted to £6,500,000 tables were uttered by Mr. Stevens, might be said that in a national emergency like the present there the New South Wales Premièr, in was only £2,500,000 of deficit on The official summary of the

3

Commercial and Travellers' Letters of Credits, Travellers Cheques, Bills a speech at a commercial travellers' total Budget amount of £19,000,000. Stock Exchange issued yester- of Exchange and Cable Transfers annual meeting recently.

"The New South Wales Govern-day- bought and eld. Current accounta and Savings Bank accounts opened and Australia's receipts from over- ment believes that our troubles will The market was without any im- be solved by a policy of reconstruct,portant features to-day, but, un- Fixed Deposits in local and foreign seas, he said, were £142,000,000 for not repudiate," Mr. Stevens said. der the influence of concentrated in- currencies taken at rates that may be ascertained on application to the Bank exports and £30,000,000 for bor-"Already its policy of honesty inquiries. Ewos, Lights and Docks & tomers the services of the Branches

We are also able to offer our Cus-rowing. In 1931-32 borrowing ceas-public finance has given enormous were marked up substantially.

Sales.. of the International Banking Corpora ed and the value of exports fell to impetus to credit, both here and tion in Spain and also of The National £78,000,000. Australia therefore abroad."

Hong Kong Bank, $1560. City Bank of New York (Franes), had to pay for imports and for her crease

He gave as an instance the in

Huyers. In the New South Wales China Fire Insurances, $620. R. M. MCLAY, external debt service out of an in-bonds in London.. Already 9,000

H. K. Steamboats, $224. come of £78,000,000, compared with fewer people were on the dole. In Ualon Waterboats, $20. Hong Kong, August 12, 1932.

one of £172,000,000..

ternal" trade was reviving.......... The Rauba, $394.

Authorized Capital .....1. 150,000,000 Pald-Up Capital 3.1. 80,030,000 Reserves

..........f. 20,015,000

Head Ofoe-AMSTERDAM”, Eastern Head Ofles (—BATAVIA,

|Branches--Bozdjarmasin, Bandowng Bombay

Calovita, Charillon, Disbee, Disk- {akarta", The Hague", "J{ddah," Kobe, Makamar, Moda Palemberg, Paka longan, Penang. Rangoon, Rotterdam, Semarang, Shanghai.. Bingapore. Saira- bais, Édurakarta (Solo). Tags), Tyllarjap and Wallavradan”,

SA in Paris and Nice.

Manager.

In meeting this position Australia world position as the result of THE BANK OF TAIWAN, LTD. reduced her imports from £144,000,- Great Britain's leadership in Inter-

(TAIWAN GINKO.)

1000 In 1928-29 to £44,000,000 and national conferences was healthier. used up substantial balances in There had been restored to the pec- London that had accrned from pros-ple belief in themselves, in trade perous times before 1929. Thanks, and industry.

HEAD OFFICE-Taipeh, Formosa Incorporated by Special Imperial Charter, 1999...

Central Bank in Formos,

BRANCHER AND AGENCIES: JAPAN :~~Tokyo, Tukohama, Hole, Osaka-

Bank-Notes surd Average 20 Yen. 4,000,000

to the establishment of a favourable The general position" of Austra balance of trade of about £34,000,- lia to-day was definitely better than 000 in 1981-32, Australia had been twelve months ago. Then there was. able to meet all her overseas ob- an expected deficit of £41,000,000, FORMOSA-Giran. Rag, Karenko, Kungligations and to commence once but Australia ended the year, as the'

Kakong, Nuate Bidneh, Talchu. Tamen,

again to build up reserves in Lon-result of the Premier's plan, with Takso, Tamui, Teen, Haito, Tallo. CHINA :—Shanghai, Hankow, Amay, Feochow,dec.

her deficit reduced to £16,000,000. Swakow. Canton,

OTHERS-Hong Kong, Singapore Boarabaya,

York, Daleen.

This effort,, Mr. Stevens said, had It would have been much lower if Sagarang, Batavia, Bombay, Loudes. Now involved very heavy sacrifices. The the New South Wales Government reduction in importa, as quoted, then in office had kept its pledges. much were some indication of disorgani The outlook this year was

LONDON BANKERS

Barclays Bank, Lid.. Lloyds Bank, Ltd.

Kidland Bank, Ltd., Westminster Bank, Ltd.

The Bank has Correspondente in all the principalation in Australian trade and brighter.. Commercial Conte Broughout the world. E. NADURA

...

HONG KONG BRANCH:

A.Dow TINUT Road Central Hong Kong, Dazembe 24. 1991.,

Manager

THE MERCANTILE BANK OF INDIA, LTD.

..HEAD OFFICE:

24, Ormonchurch Sirasi, Landen, E.GA':

Authorised Capital ....£3,000,000 Subscribed Capital ........... 1,800,000 Paid-up Capital

1,050,000 Reserve Fund & Rest 1,217,927 The Bank of England & Midland Bank, Zida

FRANCHES

BANKEBS:

Kandy

Bangkok Bataria

Ipoh

Thane offload kava Sala Daposli Borsa"lo Lat.

Horbay

Karachi

Calcutta

Kota Bharu.

Colombe

Kuala Lipis

· LONDON BANKERS :-) NATIONAL PROVINCIAL BANK LID.

*Correspondents all over the woriķu Banking Busi» news at prury description insemnated.

A. STOLKINE

Hong Kong, 21st June, 1932,

THE

AMERICAN EXPRESS COMPANY,

INC.

'Head Office:-65, Broadway. New York.

Manager

Capitali

Hong Kong, 6th March, 1931.

THE YOKOHAMA SPECIE BANK,

LIMITED.

Established 1880.

Androcy Ashant

Capital (fully paid-up) Yen 100,000,000 |... marum Reserve Fund.......Yen 117,300,000

Head Office:—YOKOHAMA.

Branches and Agencies atz

Alexandria

Batavia

Berlin...

Bombay

Calcutta

Canton

Changchun

Dairen (Dainy)

萨

U.E:$6,000,000,000 .0.8 $1,882,382.04 US$1,458,116.78

BRANCHES 1-arr

Bombay

Nagasaki

Born Alca Calre Daloutt

Colom

Nagoy

Newchwing

"Manila"

New York

Ouka

Paris..

Paiping Kangoon Frogtien (Mukden) Rio de Janeiro San Francisco. Seattle

Hamburg

Hankow Harbin

Honolulu

Semarang Shanghai Shim

Ората

Branches of American Express Cons pany in Principal cities of United

· States of Amerios and Canada,

All classes) of Commercial Banking Transactions undertaken,

bewostanes

Balhi Gelie

Beat Your How

Pinang Port Loula

(Mauritius)

Shanghai

Kinnisa (Pahang) Slagsporu Xadr

Brey

Kuala Lumpur

New York

HONG KONG BRANCH.

Every Ameription of Banking and Exchange bus

Boss testube.

Travellers Chequine lamud.

Trustee and Executorships under- taken.

INTERNS allowed on Carens Aonents and Faed Depodle ̈as Rates theà may be spoartained on application..

J. B. ROSS,

4

Manage÷, Hong Kong, h. April, 1882,

·7, Quest's Bond Desiral,

ALEXANDER INSTITUT DE BEAUTE:

Phone 25169,

Building

Base (1st. Flost) Opposite · Extrance to Hong Kong Hotel

"which are: Lerta, Sat

Artistic Finger and

(any colour),"H

ture for Ladles and

"Export,

"CHARGES MODERA WALVISIT WILL CONVINCE

GURICTORY. HISTORY

{financial activities; but export in- The expected deficit of all dustries had suffered severely. Ex-Governments has been reduced to port prices as a whole in 1981 were £9,000,000, and when the fact was 56 per cent below the 1928 level in remembered that £6,450,000 was sterling values and 43 per cent. in being paid off loans through. the Australian values for May last. sinking fund, it would be seen that The decline on the 1928 level was really Australia was very close to 58.2 per cent in sterling values and balancing her Budget. 46.5 per cent in Australian valuek For May last the decline on the 1928 level was 57.2 per cent. In sterilng values and 46.5 per cent. In Aus-} tralian values.

Overseas Debt. Fortunately, as the result of good seasons and the strenuous efforts of export producers, the volume of export production had been a ze cord. Australia had been assisted by the generous action of the Brit |ish Government in forgoing both in- terest and sinking fund on war debt, The net relief on this account was approximately £5,000,000 and 6.25 millions in Australian values.

Even allowing for this relief, Australia had overseas Interest ob- Hgations on Governmental and municipal account of approximate- [ly £25,000,000. To have made it

isible to meet this interest out. of current resources at a time, when the overseas, value of exports had been cut in half and overseza bör- rowing stopped was an effort which probably had not been ex- ceeded by any other country in the world,

Australia had made heavy inter- nal adjustments. She had convert ed her own internal debt at the rate of 221⁄2 per cent. below the 1829 level. Nominal wages” under Federal awards had been reduced oby about 20 per cent. There had *ck been reductions of approximately

22 per cent.. in private interest

and rents. Adjustable Govern

ment expenditure was being cut by

!

M

H. K. & K. Wharves, $140, H. K. & W. Docks, $21. Pròvidents (old), $4.95.

H. K. Hotels (old), $10.90, Hong Kong Landa, $76. Ewo Cattons, Tis.144. Peak Trama (new), $7. Yaumati Ferries (old), '$843⁄41⁄44. Yaumati Ferries (new), $33. China Lights (old), $18.30. China Lights (new), $17%, Telephones. (P.P.), $23.70. Malabon Sugare, $28. Canton Ices. $5. Cements (combined), $15.80. Dairy Farms, $274.

Watsons (old), $12.80.

Lane, Crawforda, $5.40.

MILLION UNEMPLOYED IN NEW YORK.

Huge Expenditure In Relief Work.

G.$75,000,000 ANNUALLY.

New York, Aug. 1.

Mr. William Hodson, executive director of the Welfare Council of New York City, states that not less than $75,000,000 (more than £15,- |000,000 at par) will have to be rals- ed from public and private funds for relief during the next 12 months. Of this sum, It is calculat- jed, "about" $55,000,000 ($11,000,000] will have to be provided by the public Treasury, since it is not bes lieved that private charity can be relied upon to increase. its present contribution by any great amount.

The number of unemployed. in the city is now estimated at 1,000,000. Home relief alone is costing the | city $60,000, f£12,000] a day, and this daily expenditure is expected to be averaging $100,000 (£20,000) within a few weeks. Mr. Hodson. says that "there are some hopeful- signs on the horizon in the settle- ment of the reparations, question and the likelihood of some agree-

HK Amusements $194.ment between the United States

E. K. Govt. Loans, 3% Premium. and foreign nations on War debts.”

Sellers,

Union Insurances, $470. Benguet Consolidated, $16. Benguet Explorations, 25 eta. Providents (old)', $5,10,'.

H. K. Hotels (old), $11.10.

But the general industrial situation

is still bad, and the index of factory employment has been steadily down- ward. We shall have to prepare for the worst winter we have ever known."

·A.O.FC. Average of Shanghai Stocks

Stat

The Shanghai stock market this half-day session not less than 20 per « cent. In all week has been atams, fair, with market showed

States, and by as much as 30 per few cent in some Stater

- Banking "institutions, especi the Commonwealth Bank, had panded credit In order to maint normal Government rices, some loan

and pri

reed

vor

treon

special

of adopted

Tuesda

motionle

general For The market as

Fed and Hittle Ebayers

the fallen away during the last few sellers days as dealers, seem to swalt some.

On indication for the trend of prices he was fare covering further quantiti The cotton market zemained ing ith rather firm position, the

ture being purchases of the staple by Japanese spinners.

kmarket has