1932-08-29 — Page 2

THE

THE HO HONG BARK, LTD,

(Established 1917.3

HEAD" OFFICE)—BINGAPORE. LOCAL BRANCH:—

19, Queen's Road Central'

| Reserve Liabilities, of

Shareholders

BRANCHES and AGENCIES in the principal cities of the world.

Every description of Banking” and £3,000,000 Exchange business transacted. .28,000,000 |

BANKS

HONG KONG AND SHANGHAI

BANKING CORPORATION. INDIA, AUSTRALIA & CHINA.

Authorised Capal megos Zgod and Pally Pidup

Base Funda :--

Sterling 8,500),060.

Silv10,000,000

$40,000,060.0 20.000.000

Ilberra Lubifily of Propriators 27,000,000

HEAD OFFICE, HONGKONG.

BOARD OF DIRECTORS:--

Hon. Mr. J. J. Pašaros,

Chalicam,

*T. B. Pearce. Eaq,

Deputy Chalema2

om. Mr. W. H. Balk

E. Complen, Baj

3. T. Johnson, Kej,

„A. MELAKắn,, Tág.

AMUT

HANGKUK

HATAVIA BOHAT

CALCUTTA

Flammer. Eet.

T. I. R. Ba*. 1. P. Warren, Bag,

V. M. Graybuza, Esq.

Chief Managar..

BRANCHES 1

LONDON

MALACCA

MANILA

MGAR (ahorni

MUKDEN

ALON STAB

AMRITSAB

ΒΑΝΩΓΟΣ BATAVIA BOMBAY

CAWNPORE.

CEBU

COLOMBO

DELHI

RALPHONG HAMBURO HANKOW HARDIN

HUNG RONG ILOIZO IROP

KARACHI

BLANG

KOBE

TAIPING

* TIENTSINS

TONGKAH (Bhuket). "

CHILE

CANTON

CHEF

COLABO

LYONS

NEW YORK

PELPING

DAIRE'N

PENANG

BOCHOW

·RANTIDON

KLAIPHONG

SAIGON

NAMBURO

SAN FRANCISCO

HANKOV

SLANGITAL

STARBIN

SINGAPORE

HONOREW

SHERABAYA,

IPOH

TIESTHIN

JONORR

TONE

“TSINOVAO-

KOWIERIN

KUALA LUMPRZEL

HUNDKE PATANI

TOKYO

YORDHAMA

Carmen Amarte opened 16. Local Currency

and Przed 17pheil Free for one or shorter pri

urrency and Sterilug,

on term which will be youted an Application. Hong Kong, 6th Apelt, 1992,

HONG KONG SAVINGS BANK.

TheBase of tha sburg Bank La omadusin!! by the HONG KONG AND SHAROBAL BANK' CORPORATION Ru've may be astalard wangyllwilon.

Sus ras BONOSONG AND SHANDWAL

MARO CORPORATION

7. M. QRATBÖRN,

Ú

Chiot' Maango".

Hong Kong, 17th February, 1933.

THE BANK OF CANTON, LTD.)

Established 1912,

Head Office:Hong Kong

Autherland Capital (H.K. Elemany) (#31,800,000 Paid Up Ospital 8.005,000 Besarra Fundamtangé cm) 1,100,000- BRANCHES :-

Canton, Shanghai, flaskow, Rwslow,

·Bangkuk, Naw York and San Francisco,

LONDON BANKERS:-

The Layd'w Bank, Limited, CORALSPONDENTA

In all privcipal sition of the World.

Foreign eching and banking bonisem of

very description transced.

Bafe Deposit Boxes (tarinus sizes) at a yearly

esata) nl. From 25 to 340; 2

LOOK POONG SHAN,

Chief Manager.

THE BANK OF CHINA.

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

ernment à An

INTERNATIONAL EXCHANGE

BANK,

Subscribed Capital .....$25,000,000.00

Fald-Up Capital

Beserve Funda

$24,700,00

.$ 3,820,uJ3.82

HEAD OFFICE: SHANGHAL...

HONG KONG BRANCH: 4, Queen's Rond-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.

KO LEONG HOE Managing Director.

THE CHARTERED BANK OF

Authorised. Capital. Straits $20,000,000 | Ismed Capital Incorporated by Royal Charter, 1855. Paid-up Capital ....

8,000,000

4,000,000

4,000,000

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve Fund

Reserve Liability of Pro-

prietors

$23,000,000

Agencies and Branches:

KUCHING

MANILA

MEDAN

CALOUTTA

NEW YORK

OANTON

PETPING (Psking)-

PENANG

RANGOON

SAIGON

SENAHANO

BEFENDAN

BHANGRAT

SINGAPORE

SITIAWAN

SDURABAYA

MADRAS

| THE NATIONAL CITY BANK »OF NEW YORK

HEAD OFFICE: 55, Wall Street,"

NEW YORK.

Capital, Surplus and

Undivided Prosts U.S.$205,444,512

Branches a

ARGENTINE

BELGIUM

BRĄZIL

CHINA MAIL.

Ommerce and Finance

EXCESS OUTPUT CHALLENGED.

Depression Due To Overproduction?

SEASONABLE ELEMENT.

80

to

MONDAY, AUGUST

NEW YORK STOCK EXCHANGE

A.O.F.C. Quotations.

SUMMER CLEARANCE SALE

GREAT REDUCTION IN PRICES

New York, Yesterday."

Last To-day's Changes Beautiful Morning-and- Aver Aver

Afternoon-Dresses

Children Dresses

from $7.50 to $25.

from $5.00 to $ 7.50,

an actual production of 72.2 per cent of the maximum possible. 30 Industrials 74.45 78.61 1.18. up

20 Rajin....38.36:36.25 Manufacturers, however, in 1928 20 Utilities. 32.86 84.21 1.35 up

11 down seemed to be unduly optimistic in

Messrs. E. A. Pierce & Co., Re- regard

possible production, port:-We think the market would Beach-Pyjamas since the percentage of average be helped by a moderate setback, workers employed was much higher but would consider that an oppor- Straw Hats in relation to the possible tunity for purchasing. Business. maximum employment than was done: 2,200,000 shares. the ratio of the possible. For instance, la motor vehicles, actual

Air Reduction

The widely accepted theory that production was 74.9 per cent. of oveproduction, created by excess maximum possible, while average Allied Chemical & Dye, 84% capacity in manufacturing plants, percentage of employment was 95.5 is mainly responsible for the cur per cent. of maximum possible. rent depression is challenged in a In 1929 the percentage of actual special bulletin by the National production of maximum possible in American Tobacco "B" 81 Industrial Conference Board, reseveral lines was as follows: 95 Aybara: „....

Borden Company... leased for publication recently. per cent and more, 7 industries; Canadian Pacific The entire subject is so vague and 90 to 94.9, 5: 85 to 89.9, 6; 80 to Consolidated Gaa the data available indefinite| 84.9; 6; 75 to 79.9, 5, and under New York that the need for adequate defini-75, 6,

Drugs, Inc. "Excess technical capacity ap-Du Pont de Nemours tion and a proper analysis of its

Eastman Kodak SETTLEMENTS part in the economic life of the pears to be an unavoidable con General Electric URUGUAY 2 nation is demonstrated, the board comitant of the organisation of General Foods VENEZUELA

asserted.

industrial society and one that General Motors The bulletin distinguishes two tends to grow as the equipment International Harvester 30. __Commercial_and_Travellers' Letters forms of excess capacity, economic becomes more complex and costly International Tel & of Credits, Travellers' Cheques Bills

"An excess of the bulletin concluded.. of Exchange and Cable Transfers and technical.

Current accounts economic capacity is obvious when bought

PHILIPPINE

ISLANDS

LONDON

MEXICO

PANAMA

PERU

TSINGTAO

CHINA

YOKOHAMA

COLUMBIA (0.

KUALA LUMPUR

ZAMBOANGA

CUBA

PORTO RICO

Foreign Exchange

and

General

DOMINICAN

* STRAITS

REPUBLIC

INDIA ITALY JAPAN

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.___

A. H. FERGUSON,

Hong Kong. 8th July, 1932.

Manager.

THE NATIONAL COMMERCIAL

SAVINGS BANK, LTD.

CURRENT ACCOUNTS. Cheques Cashed in 15 minutes while you wait.

SAVINGS ACCOUNTS

*

from $10 to $25.

from $3 to $15- Belts, Beads and other

ladies fashions.

ARCADIA

EUROPEAN DRESSMAKERS & MILLINERS

47. Feking Road, (opposite Star, Cinema): KOWLOON."

Last To-day's Price Price

61

ao-

Latest Styles and Creations.

| AmericanTM Can

58% American Telegraph &

Telephone

17

85% 58%

116%

911

01

634%

46%

40%

414

59

59%

19

201

30% 18

16

Tel Liggett & Myers. "B" 68% Loow's

1234

31

12% 694

34%

88.

.of

TEXTILE INDUSTRY Pacific Gas & Electrie. 3234

IN LANCASHIRE.

Position Still Very Grave.

3244

Pennsylvania Rallway 18%

19

Radio Corporation Sears Roebuck

9

291%

Standard O Co. of

New Jersey Socony-Vacuum Corp. 11%

35%

35- 11%

Union Carbide

&

Carbon

27%

27%

R. M. MCLAY, "

Manager. Hong Kong, August 12, 1932.

Blackburn, Aug. 17. · in a given time a "quantity of goods The Central Committee of, the: greater than the aggregate demand Federation of Textile Indústries of United States Steel for goods in that period. It will the Northern Countles held a meet-Westinghouse E. & M. 38%

Union Pacific.... United Aircraft &

Trans

80%

81%

18%

19

474

484

3844

and havings Bank accounts opened and the normal demand at its seasonal

Fixed Deposits in local and foreign peak does not require under ordin- currencies taken at rates that may beary conditions of production the & ascertained on application to the Bank full use of the existing equipment"

We are also able to offer our Cus-

"An excess tumer, the services of the Branches the board says.

of the International Banking Corpora- technical capacity exists whenever tion in Spain and also of The National the utmost use of the equipment City Bank of New York (France) under the most favourable condi S.A in Paris and Nico.

tions of operation would produce:

We offer good rates of interest. THE BANK OF TAIWAN, LTD. be seen that economic excess capa- ing recently to decide on the ques-

TOTAL RESOURCES

$19,000,000 EFFICIENT-TRUSTWORTHY

RELIABLE COURTEOUS.

144-150, 'Des Voeux Rd. C

NEDERLANDSCHE HANDEL- MAATSCHAPPIJ, N.V.

INETHERLANDS TRADING SOCIETT)

BANKERS.

Established 1214.

Hoog Log Oos-14, Queets's 'Road Central.

(TAIWAN GINKO.)

+3

HEAD OFFICE: Taipeh, Formosa Incorporated by Special Imperial

Charter, 1899. .

Central Bank 'in Farscan. Bank Notes issued Average ambant You. 45.000.000 BRANCHER AND AGENCIES: JAPAN :-Tokyo. Yokohama, Kobe, C. FORMOSA diso, Zard. Sarelo, Keelung Marosa, Nani, Shinoblin, Tulchu, Tainan, Takso, Tea, Toes, lieito, Tatto CHINA-Bhenghai, Binkow, Amoy, Foochow OTHERS 1—Bong, Kang, Singapore, Boulay

Semarang, Balaris, Bombay, London, has Yock, Dairen...

Swatow, Canton,

LONDON BANHEES:

Barclays Bank Ltd., Hords Bank: Lid. Midland Bank, Lid, Westminster Bins, Ltd.

Commercial Centrow throughout the world.

L. NAGUHA.

Manager

HONG KONG BRANCH:

Das Tour. Road Central. Hong Kong, December 24, 101.

in

LATEST INVENTION

American Chemical Diamonds.

These diamonds are equal to real diamonds

all respecta.

Specially in brilliancy of lustre, hardness, etc. Can cut glasa like remi 914 diamonds.

Proof against ars, Al, 24% acid, water, oil, etc. These diamonds can be washed with soap and water and can be used for more than 100

Price per

carat H.K.$7.60 Terms Cash or C.O.D.. Those who purchase diamonds to the value of HK$30 or more will get 20% dis- count, Send your orders direct to the. American Chemical Diamond Co., P.O. Box No. 240, Penang 8.8 When ordering mention "China Mall.”

Fears.

SILVER AND THE CRISIS.

Lord Desborough On

Bimetallism. C.

MONETARY. SYSTEM.

city is a temporary condition, tion of sanction to be given to the while technical excess capacity is demand for general stoppage of in greater or less degree a per-work by the weaving mills, made manent factor in the organisation by the General Weavers Associa of industry and society.". tion following the failure of its

Peak Of Demand.

negotiations with the Employers The seasonal element plays a concerning a new scale of salaries.

part in creating After a discussion which last- considerable excess capacity, the bulletin points ed three hours the Council decided. out, citing the canning industry, to decree suspension of work begin- in which its materials must be ning on August 27, if no change in

Lord Desborough, in a „handbook | used as they become available and the situation" will occur in the on "Money," suggests that the remedy for the economic and finan- the equipment must be sufficient meantime.

JUST RECEIVED.

FIRST SUPPLY OF

FLOWER AND VEGETABLE

SEEDS.

GRACA & CO.,

Dealers in Garden Seeds, Postage Stampa, Religious Goods, Toys, Etc.

to handle the materials in a com- On the other hand, the General cial is from which the world is paratively short period. During a Committee of the Federation of suffering is to revert to the long- large part of the year the equip Filature Owners will examine to-established system of using both the The Bank has Correspondente to all the principalment remains idle, but in anday at Manchester the proposed precious metals, linked together by economic sense this does not imply reduction of wages, to be effected a ratio, as one metallic money for excess capacity,

in the proportion of 2/3d. per the world, and as the foundation for the great structure of credit which The bulletin "also explained that pound sterling. for few commodities is the an- It is probable that the Com. will be raised upon it. nual demand equally distributed mittee will approve the proposed

There never was enough gold to throughout the year and that in-reductions, which may entail a pay debts in gold or to carry on the dustry must be prepared to meat simultaneous strike of weavers and business of gold standard countries; indeed, if all the monetary gold in the peak of demand. Storage cotton spinners in Lancashire, the world were collected it would Toogood & Sons, Ltd., Bouthampton. facilities enter into the question involving half a million workmen. here, and if, with such conditions

Authorized Capital... 150,000,000 ALEXANDER

Pald-Up Capital

Rezerves

.1. 89,080,000

.1. 20,315,000

«Head Ofɔe -AMSTERDAM", Bastern Head Ofoe:-DATAVIA.

Branches-Dandjarmado,

Bandoser' Bombay Calcutie, Cheriton, Djumbar, Djaki jaimeta", The Hagas", "didiah, Kobe, Makassar, Modän," Palembang, Paku. longan, Fanang, Rangoon, Rotterdam.

Bemarang”,, Bhaoghal, Singapore, Bonya. bale, Goerakarta (Solo), Tegal, Tjšatjap and Waltevreden".

*Those officer hava Sala Deponiz. Boxes to Let.

LONDON BANKERS :-

INSTITUT

DE BEAUTE

Phone 25169. Pedder Building

(1st Elwor) Opposite Entrance to Hong Kong Hotel.

It is, however, reported that only pay about one-third of our

of storage as have been found to some of the striking spinners at National Debt. The pyramid of [be practicable, the equipment of Burnley have returned to work

the industry is just sufficient to

credit reared on the narrow gold

basle has collapsed.” “

"If bimetallism were enacted to-

meet this peak demand, it cannot MACHINATIONS OFmorrow, the ordinary man would be said from an economic point of

Lustrons OU Permanent Hair Waves view that there is an excess equip- which are Large, Soft and Naturalment even though some of it may

KREUGER FIRM,

probably not know that we had abandoned gold mono-metallism, and

Artistic Finger and Marcal Wares of not be in use during other parts Match King's Financing that our reserves were held in silver

Treatment, Shampooing, Hesus Pack

Excess Capacity.

NATIONAL PROVINCIAL BANK LID. (any colour), Hair Cutting and Man of the year, the conference board

cure for Ladies and Gentlemen. Com-asserts. Correspondents all over the world. Banking Bust scientious, Artistic: Work, by. Remipean case of "every dustríplioni transected.

A. STOKLINK.

Hong Kong, 21st June, 1932-

THE

Manager.

We also handle the issue of Bonds AMERICAN EXPRESS COMPANY,

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

SHOU

J. CHEN.

Manager.

INC.

Head Dica:65 Broadway. New York

Hong Kong, 5th March, 1931 Capital THE YOKOHAMA SPECIE BANK,

LIMITED.

Established 1880.

Surplus Reserves

*UT_9!$8,000,000:00

: U.3.$1,882,88204 ‚U.A.$1,458,116.78

BRANCHES

Expert, Mr. Alexander.

CHARGES MODERATE

A VISIT WILL CONVINCE YOU.

For

TONE QUALITY

BEAUTY, DURABILITY,

Amatorkara Ashwory

Naples

obtain the

Bela

Yen 117,800,000

· Barila

Blac

Hamburg

Interinka Jerusalam

Paling

Palermo

Bothardam

Bestuosid

Loudon

Buenos Aires - Lávuponi

Nagasaki

Dalto Calouits

Cexines

MORRISON

PIANO

Nagoya

Colombo:

Nawchwang

New York

Copenhagen

SAMburgh

Osaka

Paris

Peiplag Rangoon

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

Head Office:--YOKOHAMA,

Brancher and Areaeles, at:

Alexandria

Batavia

Berlin

Bombay

Calzetta

Changchun

Dairen (Dalny)

Fenstien (Mukden) Rio de Janeiro

Hamburg

Hankow Harbin Honolulu

San Francisco Seattle

Semarang

Shanghal

Bombay

Beaton

Marvellies

.Cometastísople ~ Maste¦ Carto

Mobireas

Branches of American Express Conf- pany: In "Principals sillas of:United | States of America and Canada respon

All classes at Commercial Banking Transactiona anderta

(Guaranteed: fenyour

FOR SALE OR HIRE

TSANG FOOK PIANO

CON

Of Political Parties.

is

as well as gold, and if prices TOBE too high the unsecured note issua could be curtailed. The ratio to be Excess capacity emerges when a From information that is now adopted would be a matter for permanent change in demand for available, it seems that the late serious consideration, but there are products appears, such as the Ivar Kreuger, the Match King, many good reasons in support of a changes that have cut off the de- believed in keeping friendly with ratio of 20 to I. De spa mand for carriages, bicycles, cor- all political parties, for he financed The ideal solution would be an sets, pianos and other products. them all in Sweden.

agreement between the leading It also appears when over- The Swedish Prime Minister, M. countries of the world to establish enthusiastic manufacturers in- Ekmar, has restored 50,000 kroner an identical ratio, but the British crease their equipment to provide to the administrators of Kreuger's Empire with India and the countries for a demand which does not de-estate. This is the sum, which the on sterling might well be able to velop. "In view of the rapidity late financier donated to the establish and maintain a ratio, pos with which equipment becomes People's Party election fund, which Th crisis may wel tobisolete and the

Intary one, and the act that in the

am Fortunes be not the over pas two years there has been little returning the money, replacement, the opinion is held by phas that it was traditional for of commodities, but some well-informed persons that, party leaders to collect party production of money far from having the present funds.

may be cured in vario

time an excess capacity, American But a quite different attitude is but in the present⠀ industry is nos properly equipped taken by M. Lindmann, leader of the restoration of silver

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

Agents for

Salton & Sons, Ltd., Reading,

Το

KIWI

the well-groomed

amone-

under-

THIS

man, no detail is too small to escape his no tice And that's why he insists on Kiwi for his

WBYE,

shoes.

old

Kiwi enhances shoe

leather, giving it a lust

to meet a normal demand for its the Conservative rty, who place in the monetary system would products," the bulletin added.[received 25,000 kroner for his seem to be the soundest, i

The bulletin also explained that party from M. Kreuger.

in contrast to economic capacity Lindmann says he regards the TOBACCO MONOPOLY

business

Isting the

in which excess is comparatively money as an advance. Kreuger rare, there is always an excess of on behalf of a body technical capacity, which hinges men in the habit of on the use of perpetual machine Cons operations, But continuour opera-

with some

not been achieved and

nue for bre

funds

IN MANCHUKUO

fund Probably To Become

that M. Kreuger

zmunfet Enot

has

Effective In 1933.

rous polish that lasts all

KIWI

The Quality

& CO.