J.
BANKS
HONG KONG AND SHANGHAJ BANKING CORPORATION.
orld Cup 9,000,000 Izesed and Fulir Polday unpr.–19,090,000 Besarra Funda-
- # 1,300,0
- $14,000,000
Kaserne Ilablity of Propelators sam 830,306,200
་
HEAD OFFICE, BONG KONG
BOARD OF DIRECTVĪRS ›—
T. 2. Paros, Tay.
Felsen.
Ka», Eng
Deputy Obaircut.
Bald, Kag
1. Mietin. Ra
i. 14. Dodwell, 'krag. Bom. M1. J. Paternaer
4. Compson, Eng. J. & Plummie. Rac
TOR.ME. 118. Mickie.
ANOT
BANOZOL
BATAVIA
– N. Murphy, Baq,
Acting Ohlal Managin
BRANCHES :-
1,0NDO)
LTOND
MALACOA
MANILA
MUAR (okore
DALOUTTA JANTON
CREPU OGLOMBO
NOEDEN
NEW FORE
DAISEN
POOCHOW
BAIPHONG
HAMBURO
M
A&RDIN
MONⱭXEW
HZODA
(POH
JOHO
KOBI
COWLOON
KUALA LUMPUR
PEIPINO
FRHAND
RANGOON
RAIGON
NAN FRANCIMON
HANOLA
КТКОВ ГОЛЕ
SOURABATA
HONORI PATAN
MENTRIN
TORTO
TSINGTAO
YOKOHAMA
Current Andante spaced la
Local Curren
Find Deposits impaled for shacher portale fa Emond Guermay and Birling on terme which will he quoted on neglistan. Hong Kong, 22nd May, 1913.
HONG KONG SAVINGS BANK.
For Sale at the shore Bank be stažuotė 2010 TOND AND RHANGHAI MAKE- *** CORPORATION. Balor may be obtai In oppilasles.
POR FA# AOXGLONG AND BRABORAT BankLNE DORPORATION.
L. N. MURPHY,
Arting Chief Munkcer,
Bong Kong, 24th April, 1953.
SAFETY FIRST!
To Safeguard Your Valuable and Jewellerias,
Deposit them in a Vault
that is really? FIRE - PROOF BURGLAR - PROOF
DAMP - PROOF !
OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of Our New building is Specially Con- structed to provide all of these Im portant Quailties.
You may obtain a Safe Deport Box in this most up-to-date Vault for your own use at a very moder- ate Rental.
Inspection Cordially invited. THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Street and Des Voeux Road, Central,
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter. 18K3.
HEAD OFFICE: LONDON.
Paid-up Capital
..£3,000,000
Reserve Fund
.£5.000.000
Reserve Liability of Pro-
prietors
.£8.000.000
Agencies and Branches:
ALOK STAR
AMRITSAR
KUORING
BANGKOK BATAVIA BOMBAT CALCUTTA CANTO I CAWSPIRE
CKBU COLOMBO
BAIPHONG
MADHAR
MANILA
MXDAN
NEW FORE
PEIPING (Poking? PERANG
BANGOON
BATOON
DELOI
REMARANO
KEREMBAN
HAMBURG
BHANGHAI
TANEOW
BINGAPOR
HARNIN
MITIAWAN
RỒNG LONG
ROUBABAYA -
HDILO
ΤΑΥΡΙΝΟ
TIRNTAIN
TONGKAR (Bhukas,
Fratt
TSINGTAO
TOEDĦAMA
THE CHINA MAIL.
Commerce and Finance
COTTON, SILVER | NEW YORK STOCK
AND WHEAT
Latest Quotations.
NEW YORK COMMODITY MARKETS
for September 28.
Closing prices on September 27 on the Commodity Exchange, Inc. New York:-
KARACHI
KLAKO
KOBS
KUALA LUMPUR
ZAMBOANGA
Foreign Exchange and General Banking business transacted.
Sept.
Current Accounts opened and Fix- Dec.
SILVER.
Sept. 26 Sept. 27 39.85 Eid 39.00 Nom. .. 40.14 Traded 39.25 Traded
40.96 Nom. ed Deposita received for one year or Bar.
39.85 Traded shorter periods at rates which will be Total Sales for the Day: qunted on application.
172 contracts of 25,000 aza, each
A. BREARLEY,
Manager. Hong Kong, 17th November, 1982.
EXCHANGE
A.0.F.C. Quotations
ten-cent
New York, Yesterday. Dow Jones Averages.
Last To-day's Changai. Aver. Aver.
loan plan.
Producers
THURSDAY, SEPTEMBER 28, 1933.
COLONY'S CAUTIOUS
CAUTIOUS AVIATION EXECUTIVE
BUDGET
(Continited from Page 1).
But apart from the some- what misleading figures of which these $16,000,000 - fluctuations have caused to appear as surplus in the statement for May, this Coun- cil may have some difficulty In appreciating the grounds for the Government's attitude of restraint when it is seen that the estimated surplus of ́assets over Habilities at the end of 1933, is now put at over $13 millions instead of the $10,600,000 odd anticipat- ed in the Estimates for 1933.
quarter in its balances until it can. be given possession of the old site.
COMING HERE
Sir John Higgins Due To-morrow.
TO CONFER ON NEW FLYING TRAINING SCHOOL ·
Among passengers arriving`on.
A third item of saving which may be mentioned here lies in the adjustment of Military contribu- the 8.5. "Empress of Japan" to- tion the original estimate of 1933 morrow are Air Marshal Sir John being $5,832,271 and the revised and Lady Higgins,
estimate $5,694,559. Part of this
reduction is due to over-payment
Sir John Higgins, K. C. B., K. B.
In respect of 1932 and part to cer-E. D. S. O., A. F. C. R. A. F., tain, concessions in respect of (Ret.) is Chairman of Sir W. G. revenue exempted from contribu-Armstrong Whitworth
tion of which I shall say more at a later stage.
now hitting
Aircraft
¿Ltd.; Director of Armstrong Sidde- ley Motors Ltd.; Chairman of A. V.
Roe & Co. Ltd. and "Chairman of Air Service Training Ltd.
Sir John Higgina has had a dia-
30 Industriala 07.41 93.18 4.23 down 20 Nails
43.11 41.19 1.92 down Messrs. Asin Lands Ltd. have 20 Utilities 25.08 25.25 .78 down ceived the following quotations on 40 Bands..
.20 down 84.44 84.24 the New York cotton and wheat.
Messrs. E. A. Pierce & Co. Re- exchanges port:-Numerous resistance points" rubber, silk and silver
were broken to-day in the in- on the Commodity Exchange Inc.
Colony's Trade. Decline. dustrial Hist and there seems to bu New York:
The main factor in the falling no reason to change the polley of
But the fact is that our revised off of our ordinary revenue lies of maintaing' side-lines positions.
estimate of Revenue for 1933–¦ course In the general depression Wheat: Nervous during most off the session. The recovery from $33,027,000 contains two abnormal from which the world, at large has tinguished career in the service of Items; first a sum of 18 lakhs in been suffering for some years past the Empire, Entering the Army the early decline was due to re- death duties from Lord Inchcape'e and which is
the in 1895 he served in the South |newed Eastern buying and rumours
a aum estate and secondly
The Import African War 1899/02 and learned of Colony in earnest, of the devaluing of the Dollar.
$1,250,000 accruing from the sale duties on liquor and tobacco for to fly in 1912. Entering the R. F Cotton: The market, generally, of a portion of the City Hall site, the first half of 1933 have been C. in that year he achieved rapid awaited the development of the to which is to be added a sum of only $1,883,876 as against an ea-promotion being permanently cour $4,000 representing the sale price timated figure for the same period, missioned as Air Vice Marshal in 1919 and rose to his present rank !319 contracts of 25,000 ozs. each. are not disposed to sell all receipts of the demolished buildings.
of $2,950,000. Stamp duties aro The Trade present prices. RUBBER.
City Development Scheme.
similarly $1,111,731 against in 1929. He holds the French Silver: Market opened; Sept. 26 Sept. 27 bought.
This sale as Honourable Mem-
Cross of the Legion of Honour, distinctly easy in sympathy with bors are aware constitutes the first
$1,300,000.
It is understood that Sir John Opium revenue for the half year London Silver and Sterling and for stage in a new development scheme stands at $643,030, instead of $1, Higgins will be staying in Hong during there embracing all the Government pro- 250,000 but only a very small part Kong for several weeks were heavy fluctuations around the perty lying between Queen's Road of this fall is attributable to the which time he will confer with of- lowest levels. Arbitrage selling, and Upper Albert Road en the decreased means of the addicts. Aicials of The Far East Aviation against purchases in London North and South and Garden Road The bulk of the loss le attributable Co. Ltd., regarding the new Flying feature.
and Ice House Street on the East to the new arrangement instituted Training School to be established and West: A tentative lay-out for 'on, the recommendation of the at Kai Tak and other matters in the Last To-day this scheme is shewn on the plan Bangkok Conference by which this mutual interests of the Companies which is among the papers I have Government's Monopoly draws its he represents, and the Far East just laid on the table.
supplies of prepared opium from Aviation Co. who act as their re- It is a scheme of the first magni- the factory of the Straits Settle- presentatives in China. 81% tude involving inter alia the re- ments Monopoly. The Hong Kong 401 120moval of the present Government 'addict does not like the Singapore
86% House and the erection of a new brand. 20% Government House
THE BANK OF CANTON, LTD.
September Necember March May
Ratablished 1912.
Wead Offer:---Hong Kong,
Antikortasi Capital (B.K Ourensoy!, $11,006,00% Paid Up Capital ----
1.BALHOS Lasiona
BRANCHES :-
Canton, "Bhanghai,
7.GO 7.93
7.90 8.34 8.37 8.34 8.00 8.57 Standard No. 1 "B" Contract Total sales for the day:-m
187 contracta-236 contracts.
NATIONAL SILE EXCHANGE.
Oct. Banken, Bengtsk
and Gas Frončane, LONDON BARIZI : –
The Lloyd's Boeck, Llcažiad CORRESPONDENTS
la aŭ princijal nitkan vi Ühe World
Formign Exchange and banking
ription warmnecol.
Safe Deposit Boxm (ruciore vizavi de a guarly contað af from 65 to 800
LOOK POONG BHAN,
Chief Manager.
THE BANK OF EAST ASIA, LTD.
Head Ofice: Hong Kong
No. 12. Des Voeux Road Central. Established: 1918
Authorised Capital Paid-up Capital
Sept. 26 Range Sept. 27 Range 1.76 1.70 1.74 194
SUGAR.
Sugar prices as of the close of the market September 27 on the New York Sugar & Coffee Exchange:-
Sept. 26 Sept. 27
December .... March
at
the balance of the session
Business Done:-2,310,000 shares.
Air Reduction
Prire Price
1.61 1.58
1.50
Auburn
1.66
Bendix Aviation
.....10% Allied Chemical & Dye, 136 American Can American Smelting American Tol. & Tel. ..122 American Tobacco "B", 87
21 American Waterworks Anaconda Copper Mining 16
47% 15
100%
134
00 44%
15
46%
Borden Co.
23%2
Canadian Pacific
COTTON.
Cotton prices as of the close of the market September 27 on the New
¡York Cotton Exchange:—
E Sept. 26 Range Sept. 27 Range
J. 1. Casc
Caterpillar Co.
28
at Magnazine The grounds of his dislike are Gap. I shall deal later with the 'somewhat obscure at any rate for 14% reasons for this particular step in the moment and are being further 22% the scheme.
explored what is clear is that he 13% 134
עד
684 664
2014
19
Chase National Bank
23%
22%
Chrysler Motors
Oct.
9.79 0.80
9.74 9.74
Consolidated Gas of N.Y.
41%
£25
40%
*41
Doc.
..10.09 10,09
10.00 10.02
Curtis Wright
Jan.
Mar.
$10,000,000.00, Middling
5,598,600.00
Reserva and Undivided
Prodite
.10.17 10.17 .10.34 10.36 May.10.50 10.50 July10.69 10.60
10.00 Spot .10.05
CHICAGO WHEAT.
10.08 10.09
10.27 10.28 10.40 10.41 10.57 10.57
Tu Pont de Namsuri
Kodak
નવ
2%
234
83
Electric Auto-lite Co.
16
Electric Bond & Share
Electric Power & Light
6
17%
13%
General Dis
General Electric
20
20%
19
General Foods
354
35%
General Motors
20%
28%
Gillette Safety
13%
2,312,000.00į
Sept. 20 Sept. 27
Gold Dust
20%
1
134
10%
September December
861⁄4
90%
87% 91
Foternat. Harvester
3844
30
30%
Internal. Tel. & Tel
135
197
12%
Liggelt & Myers "B"
May
944
9524
Loow's Inc.
31%
Bir Shouson Chow, Chairman.
Montgomery Ward
21
20 194
Li Koon Chun, Esq.
National Biscult
National City Bank
Wong Yun Tong, Esq.
Chan Ching Shek, Esq.
BOARD OF DIRECTORS:—
P. E. Kwak, Esq.
}
A NEW MOSQUITO
DESTROYER.
For the moment I am only con-will not buy the opium that the Experiments At Devil's cerped with Government's views Hong Kong Government offers him.
Island.
for its finance which are, subject If this state of affairs indicated a to the observations of Honourable genuïne step towards the liberation
New York. Members, that it is desirable to of the addiet from his addiction, it A recently invented mosquito treat the scheme as a separate and would not only not be a subject for destroyer having power to at self-contained financial unit holding regret; it would be a matter for tract mosquitoes over a wide 10% on the credit side the $1,254,000 positive congratulation. The Hong radius by electric waves is being I have just mentioned and the Kong Government abides by its taken for trial by Adjutant Pear proceeds of the future sales of the 'declaration that considerations of of the French Salvation Army, Beaconsfield Arcade and Govern- revenue shall not stand in the way who is on his way to do mis- ment House sites while on the de- of its co-operation in the obligations sionary work in the Devil's bit side will appear the cost of of His Majesty's Government ac- Island penal settlement. forming new rites and ronds and cepted at the Hague and later con- According to the Port of Spain of building the new Government firmed at Genevs, and Bangkok to correspondent of the New York House, new City Hall, new Govern- suppress the smoking of opium in Times, experiments in French ment offices and similar outgoings, its territory. Unfortunately there malarial districts having proved This however is a somewhat un-is abundant evidence that the dis-successful, Commissioner Albin usual procedure in respect of taste of the Hong Kong addict for Peyron, territorial commander in schemes financed out of revenue the Singapore brand has merely French Guiana,'saw a means of and before it and be definitely swelled the ranks of the smokers improving conditions of the con. adopted it will be necessary to ob- and the profits of the purveyors of victs and others in his district. Įtain the special sanction of the Se- illicit opium. Shortly after the new Reuter. 74cretary of State.
52% 61 24% 24%
arrangement came into force the
For the present therefore the Superintendent of Imports and Ex- 284 Item of $1,254,000 is being retain parts instituted an intense
18
14%
Pacific Gas & Electric
24%
21
14
20%
3%
Pennsylvania Rly.
31
SO
Radio Corpn.
7
Sears Roebuck Slan
40%
384
Standard Brands
24%
10%
10
Standard Oil Co. of N. 40%
39
Socony Cacuum Corpn.
12%
11
Texas Corpn.
20%
201
Trans-America
25%
6%
5%
1inion Carbide & Carbon 43
41
Union Pacific
115%
110%
United Air &
20 Transport 31%
United Corpn.
64
ed an ordinary revenue for 1938 and paign against oplüm, 'divans-which
News In Brief. the first item of expenditure, are not only illegal in themselves but $100,000 for the preparation of the invariably supply their customers! The usual dinner dance at the Re. new site for Government House, is with illicit opium. The results more, pulse Bay Hotel will not take place shewn as a separate Head (No. 35) than fulfilled our, worst fears,
to-morrow. 'of expenditure for. 1934.
During the first three months of j
cam-
Tnited States Steel 48% Westinghouse E. & M.. 87%
40
354
THE BANK OF TAIWAN, LTD. (TAIWAN GINKO.)
HEAD OFFICE:~~Taipeh. Formosa.
Incorporated by Special Imperial Charter. 1899.
Central Bank (a Formon. Bank-Brien Jamand. Árazago ameusi ...Tos ska00 POI
Li Lan Sang, Eng. Pun Hin cho, Eng Wong Chu Son, Esq. Kan Ying Po, Esq.
Kan Tong Po, Esq., Chief Manager, LI Tae Fong, Esq., Manager.
Correspondenta in ali principal cities of the World.
On and after August 18th, 1938, the tate of Interest on Special Current Deposit will be at 2% pa. on daily balance and the rate for balance over Every descriptios of Banking and $10,000 will be quoted on application Exchange business transacted. Lonn (Maximum rale---1%%),
granted on approved securities.
Safe Deposit Boxes To Let.
LONDON, BANKERI.
Barclays Bank, Ltd., Liepia Boaż, Lat Midland bak, Dil., Wastelander Bank, kad.
The Beak has Correspondenta la all the prinsipa: Joncmorstal Geniess tinaghand, the world. X, KADURA.
BOND LONG_BRANCH,
De Yau Hood Costrui Hong Kong, Desember 94, 1961.
Manager
THE YOKOHAMA SPECIE BANK,
LIBUTED.
Established 1550.
Capital (fully paid-zip) Yen100,000,000 Beserve Fund..
KAN TONG PO,
Chief Manager.
THR AMERICAN EXPRESS COMPANY,
INC...
East Odless, Broadway, New York.
Capital
Surplas Reserves
.U.S.$8,000,000,00 .US$1,667,089.17 .1.8.$1,718,979.87..
處
BRANCHES
Yen.121,250,000 Antwerp
Gesan Ganged
Mexico City
Blaves
Head Ofice--YOKOHAMA,
Branches and Agoncion at:
Polping Polars
Alexandria
Nagasak
Nagora
Lucene
Nawchwass
New York
T'antalan
Canton
Bairen (Dalny)
Petping
Hamburg
Earbin
Habaria
Berila
Calcutta
Tangtion (Makina) Rangsos
Bankow
Mong Kong
Eppotula Heleiding
Karachi.
London
Los Angeles
Manila
Lotarent allows
Deposits recely
rates to be obt
Hong Kong, 11th
Rio de JaneDÍTO Ban Fesselsso Beattie
Semarang Bbanghal Shimonoveki
SHARE MARKET.
The Hong Kong Stock Exchange
Weekly Report issued yesterday at
12.30 p.m. Dairy
Farms were quite firm
this morning, being bid for at 29%.
National Dairy Prod.
Oils Elevator
Qu
Packard Motors
The rest of the market however. Standard Gas was more or less neglected.
SALES Underwriters $2.10 Antamoke $1.00 Teleprones $94% Dairy Farms #29%
BUYERS
Hong Kong Banks $1,815 Canton Insurancas $320 Union Insurances. 3570 Douglases 482
Antamoke 90 cents. Ewo Cottons Sh. $14.40 Hotels $6.80
Hong Kong Lands $781⁄2 Hong Kong Trams/$221⁄4 Star Ferries 899 China "Lights (Old) $11% · Electrics $77
Cements(Combined) $8,95 · Dairy Farms $2931⁄2 Constructions (Naw) 85 cents. Govt. Loans 8%% Prom
Telephones SK
SELLERS
THE BANK OF CHINA. 行,中國中
EXCHANGES.
TO-DAY'S QUOTATIONS,
On London-
T. T..
On demand
"
1/4/4
4 months' sight................ ·1⁄44% Credits 4 months".
sight.....
Reorganised. October 26, 1928; under On Kebe
special charter of The National Gov- ernment as muda
י,
killed instantaneously
was yesterday evening admitted to the Government Civil Hospital suf- ¡fering from Injuries sustained by being knocked' down by motor car No. 289 In Queen's Road West..
8% Nevertheless we must be pre- the campaign no less than 682 Cheng Yau, aged 20, a palat [pared for the transfer of the divans were discovered and raided scraper employed on the s.. Semi-
credit to a special account and while 661 persons were convicted ramis, was when that has been done and the for keeping or assisting in keeping yesterday afternoon, when the fore- Inchcape estate duty deducted it divans, 4,044 persons were found, mast headlamp bracket fell, crush- will, be seen that our ordinary smoking in divana but were not
ing his skull. revenue for 1939 cannot be set placed before the Courts as the num higher than about $30,000,000 as ber of prisoners on the more serious Yau Chol, Chinese male, aged 00. against an original estimate of charge was already as much and $34,000,000 and that the mainten more than our Gaol could contain ance of our surplus balances at the In every case illicit opium was be same level as at the opening of the ing smoked; 1/65%
year is due to our revised estimate 'Satisfactory Railway Revenue 32% nom.
of expenditure for, 1938 being $52,- The only head of revenue which, 564,261 as against an original es- we can view with any satisfaction. Au Man-sui, alias Chán Pan, was NOW
timate of $35,199,247, and is that of the Kowloon Canton Rail- this, morning sentenced to four Saving on Sterling Commitments way which for the... ürst » half monthé' hard labour by Mr, Bal- The main factor in this saving of the current year has amounted four at the Central Magistracy, for is the reduced cost of our sterling to nearly eight lakhs as against the stealing su empty purse from, a commitments, including officers" estimate "of nearly thirteen lakhs passenger leaving the Canton-Kow- skiaries, arising from the dif. for the whole year.
loon express last night. A pre- ference between the current ex
That therefore is the revenue vious conviction for theft was change rate and the rate ($1-11, position for 1988. For 1984 we proved. 2d.), adopted in framing the should not be Justided in assuming timates, This difference in ex that the forces which have been de- change has also of course a de pressing our revenue in 1953, pressing effect on certain. Items of relax their pressure and our esti- where the reduced price should send revenue which have been placed mate of revenue for 1984 is accord-up consumption; $85,000 from the ingly met at 481,781,626, a figure now Ferry franchise under Licences on a sterling basis, but this is a very limited reduction in no way which can hardly be called over and Internal Revenue and a further pessimistic when it is. remembered sum of $28,750 under Miscellaneous: comparable to the reduction in that, as I have just said, our re- Receipts (Royaltion); $240,000 un-- expenditure arising from the
On New York- {
On demand Credits 60 days:
On Parla
ye
On demand
568
Credits 4 months?
sight,
595
On India
T. T...
On demand
92% 92
[On ShanghafTM
On demand
On demand
On Batavia
„On "demand"
110%
118
65% nom,
59%
,84%
On Saigon
On demand
On Bangkok
On dem
bank.
5/16-
viloning
INTERNATIONAL EXCHANGE. On. Manila......
EUBANKS,
On demand
Subscribed Capitals $25,000,000.00 On Singapore. Pajt-Up CaylƐál 260,324,710,200.00 On demand Reserve Funds Pak
8,520,503.32
Branches of American Express Com pany: Ja Principal citias, of - United-- States of America and Canada.
All elnisse of Cimmarefa! - Banking|| Transactions undertaken.,;
*
HEAD OFFICE, SHANGHAL,
HONG KONG BRANCH: M&A Queen's Road, Central:
Louel: Auventusade. !- ascoont China and large connections in the im
portant commercial « contrairaf! Ehe do yra are able to extend to our Mantle for domestle and foreign banking and #ýc} HWezalno handle the fanse of · Bonda Land Jiber Public, Panda" of the Chin- and Government both at home, and |mbronda
Owing to our numerous branches lar
TOGANIZ
SHOU
will
venue of 1988 apart from windfalls der the sume head in respect of the cannot be expected to go much above now Land Transport · franchises; Another source of anticipated $30,000,000, On the contrary we $600,000 increased water revenue: saving lies in the sum of $500,000 may have tended to optimism in and $200,000 increase in Assessed sat down in the Estimates as the some of our items,
Colon
Import duty iquors and
#40 32,800,000 respect
Tax, commonly, known as Bates:
The last Item is inserted withi and confidence than the others as
re though good deal of (new buildin
instill going on there is reason think wa may be overbuilt and such a position though 4 it!) malas – for Spublle bealth/ky, spraiding popula”.
In ita trenini"empty houses idiflats on which ratou have to be #pirit:refunded.
19th
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