1934-01-16 — Page 6

S

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION:

Meseres Länkling of Propelators —— 100,000,000

WRED OPTION: RONO KONG,

THE CHARTERED BANK OF INDIA, AUSTRALIA, & CHINĄ.

Incorporated, by. Enyal. Charton, 1858.

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve-Fund

63,000,000 £8,000,000

Esserre Liability of Pros

prietors

0,00€

BOARD OF DIKBOTORS —

E.

ALOR STAR

Dusty Charme.

W. H. Bell, Reg.

H. Dodwell, Kaz.

Faron, tre

Chelmak.

Td. 11. Shan, Esq.

(1. Mirisa, Kog..

Hon. Mr. I. J. Polocron.

El. Dempton, aiq. 7. A. Bennet, Jap

ZOBBLE, 193,8, Mackle,

3. M. Graybarn. Blog.

FRANCEER

AMOT

BARTOK

MATATIA

BAKJUTTS

BOWHAY

OREFOO

DOLOMBO

Arincios, und, Branches:

AMRITSAR

BANGKOK BATAVIA.

CAWRPOLS

BAILA

MABEAR

I UCTREKING

KANTA

WEDER

NEW YORK

PRIPING (Paidag!

PELANG

КАМООСИ MATION KEMARANG

SKIENHAY.

COMMERCE

AND FINANCE

COTTON, SILVER

WHEAT

Latest Quotations.

NEW YORK COMMODITY MARKETS

KALOVITA CANYON

CENU,

DELHI HAIPHONG

LONDON

HANBURG HARKOW KAMER

SHANGBA

KINGAPORE

KITIAWAN.

LIONE

BOURALATA

MAZLOGA

TAIPINO

.

MANILA

IPOT

TTANTHIN

MUAB (Jebars)

KABAGEX

TONGKAH (Binhof)

MURDEN

TUINOTAO

TOKOHAMA

KUALA LUMPOR

MAMBOANGA

Foreign Exchange and

General

Banking business transacted.

Current Accounts opened, and Fix-

Closing Commodity Prices January 15.

SILVER. Silver: Commodity. Exchange of New York:

Jan. 13 Range Jan. 15 Range

45.30 45.40 45.85.45.94 46.85 46.45

KEW YORK

FELPING

PEXANO

DADLEN

POOCHOW

BANGOON

KAIPHONG

SAIGON

MARMUJE

SAN FRANOLB00

BANKOW

BRANCHAI

HINGAPOR

BOUERBATA

JUNONI PATAST

TIENTE

TOLYO

HARIN

половни

ILOILO

[POS

JOBORD

ROLE

KOWLOON

WUALA LUMPUR

TEIROTAD TOKOHAMA

Durele opened in Latest Carnia?

Final Doppelle coseized for your o aberior periode to Loyal Currency and Marking I had which will be costed in, sapámnium- Hong Kong, 2nd May, 1933.

HONG KONG SAVINGS BANK.

The Walton of the sivera Bank in sonducted. My MonⱭ KONG AND SHANGHAI BANK-

LÍS DOSPORATION, Bolas may be ablolónő

FOR THE HONGKONE AND SHANGRAI MAKING CORPORATION,

V. K. GRATBUKE,

Hong Kong, 24th April 1938.

SAFETY FIRST 1

To Safeguard Your Valuables and Jovellerim, Deposit them in a Vauk 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 those Im- portant Qumiltiem.

You may obtain a Bafe Deport Box in this most up-to-date Vault for your own use at a very moder ste Rental.

Inspection Cordially Invited. THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Cerner of Ice House Street and Des Voeux Road, Central,

KLANG

THE CHINA MAIL.

NEW YORK STOCK EXCHANGE

A.O.F.C. Quotations.

New York Yesterday,

30 Industriala 20" Rails

Last, To-day's Changes

TUESD JANUAR

ROOSEVELT REVALUES DOLLAR AT 60 CENTS

(Continued from_Page_1.)

Such legislation places the light, of title to ownership of gold reserves in the Government itself, and also Áver.· ́Ärer.

nakes, clear the Government owner *.98.68 101.19 4.38 up ship of any added dollar value to 141.69 44,25,264. up the country's gold stock resulting

MONETARY BIEL PROVISIONS

All Gold Withdrawn From Circulation.

20 Utilities ... 26.36. 26.17 1.81 up from any decrease in the gold con- HUGE PROFIT FOR GOVERNMENT 40 Bonda...63.52 86.99 .47 up tent. of the dollar, which may be Commodity...

made in public interests.

Index

em*

recom-

all

1934

NEWS ADVERTISEMENTS.

PUBLIC AUCTIONS.

THE Undersigned, have received Instructions to sell by Publis

ON THURSDAY, the 18th Jan, 1984 commencing at 10.30 a.m.:

Auction

at their Balaz Boom, 4. Duddell Street.

A FINE & VALUABLE CONSIGN- MENT of JEWELLERY

comprising

Pearl and Diamond Necklaces

Washington, To-day. 2.60.43 52.29 1.85 up "If public interests; should re-

The Monetary Bill embodying Meaurs. E. A. Plerce, & Co. Require an increased amount of gold

Platinum and Gold watches with. port:---Washington news provided in the dollar, the loss would fall President Roosevelt's

mendations to Congress to be rings Brooches with Diamonds, diamonds, Diamond Rings and Ear- New York, Jan. 16. Messrs. Asia Lands Ltd. have re

the necessary stimulus, to push upon the Government.

The title to all gold being in the introduced to both Houses con- Pearls Emerald etc, etc. Busli Government, the total stock would tains the following major provi- ceived the following quotations" on

through, resistance : levels.

sions. the New York cotton and wheat. neas news has been good since the serve as a permanent fixed metallic

Firstly, that the title to and Pendauts, Diamond Cuff Links, rubbar, silk and silver exchanges turn of the year, but has been reserve changing in amount only 80 Federal Reserve gold pass to the Jade Necklaces, Pendaut, Rings en the Commodity Exchange Inc ignored by the market.

pens far is necessary for the settlement The pace of international balances, or as may United States Government, and and Earrings also Sundry Jewel- New York:

on may now slow somewhat, but we be required by future agreement that the Federal Reserve system belery etc., etc., etc.

On View from Wednesday the think that the general trend con- among nations for re-distribution of given credits in equivalent amounts

17th January, 1934. the world stock of monetary gold. dollars. tinues upward, with greater lacphasis on rails and utilities. The

Secondly, that all gold be with

Terms: Cash on Delivery. The Dollar's Valua

LAMMERT BROS. drawn from circulation, that gold tive legislation President's message asked afirma-

"With the establishment of thisfeoinage be abandoned, and that no

Auctioneers. Government to take over the gold or a more certain determination of cept gold certificates owned by to empower the permanent policy, the time has come currency be redeemed in gold ex-

Hong Kong, 16th January, 1934. holding of the Federal

Federal Reserve banks, In such instructions to sell by Pubile Reserve the gold value of the dollar.****

THE Undersigned have received System, payment for this to be

"la consequence, of world uncertainty, the Presi- made in fold certificates secured at all times, doller for dollar, by

dent does not, believe it desire The the Gold in the Treasury.

able in public interest that the RUBBER:

President stated that he did nót exact value should now be fix- Thirdly, that the Secretary of Commodity Exchange believe it desirable that the exact

ed.

the Treasury be authorised, with value of the dollar be fixed now. "The President will be authorised the President's approval, to pur He recommends however, that by the present legislation to fix a chase any amount of gold at home A Consignment of New English Congress, fix an upper limit of per-lower Imit, permissible for revalus-and aboard.

Brushes, Fine cutglass ware, Sun- missible revaluation at sixty perition, at 50 per cent.

Fourthly, that the Secretary of dry Goods, etc., etc. Icent. This would give the Preši- "A careful study leads me to be- the Treasury could anticipate the On View from Thursday the 18th Total sales for the day:-

dent authority to devalue the lieve that any revaluation exceeding payment of interest on the public January, 1930. 87 contracts - 767 contracts

Dollar by proclaination to some 60 per cent, of the present statutory debt and sell gold at home and Terms: Cash on Delivery. NATIONAL SILK

level between fifty and sixty cents. value would not be in public interest aboard. To stabilise the exchane he EXCHANGE.

The President suggested that out Therefore, I recommend that Con-could purchase or sell or discount Jan. 13 Range Jan. 15 Range of the profits of any devaluation of gress fix the upper limit of permis drafts, cheques; bill of exchange,

1.41 1.44 the Dollar there should be set upsible revaluation at 60 per cent,

accepiances or other evidence two billion dollars stabilisation "In order that we be further pre-jindebtedness.

ed Deposits received for one year or Mar....45.25 45.25 shorter periods at rates which will be Máy.....45.80, 46.80 quoted on application.

|July...........46.34 46,24 A. BREABLET,

Total sales for the day:- Hong Long, 17th November, 1931. 109 contracts, of — 449 contracts of

25,000 ozs each 25.000 ors each

Market: Steady.

Manager.

THE BANK OF CANTON, LTD.

Betablished: 1912.

Head Office:-Emg Kong,

Aziberland Omplil (X.X. Currenty) ...831,000,000

Basers Paid wee

Coates, Shanghal. Vaskew, Beaglek,

sáð tan Tranelson, - LONDON BANERES par The Hed's Bush, Lizdiel. CONLESPONDENTS

in all prinsipal ofkes at the World. Fungi Kamange nåd bilag kuatanes

Bale Dspurts Barns (varices alone) að à pourty shal of Crocs $5 la`546.

LOOK POONG shan,

Chief Manager.

THE BANK OF EAST ASIA, LTD.

Authorised Capital

.... $10,000,000.00 Paid-up Capital ..... $ 5,598,600.00] Reserve and Undivided

Profile

Rubber: Inc. of New York:

March

May

July

Jan.....

Jan. 13. Jan. 15.

9.11 9.14. 9.84 9.88

9.06 9.61

1.34 1,36

SUGAR Sugar: New York Sugar & Coffae Exchange:

Jan. 13. Jan. 18.

March May July...

1.24.

1,28

1.30

1.36

1.36

1.41

Market: Steady.

COTTON.

$ 2,312,000.00 change:

HEAD OFFICE:—HONG KONG 12. Des Voeux Road Central

BOARD OF DIRECTORS:-- Sir Shouson Chow, ChairmERA.

Li Koon Chun, Esq. P. K. Kwok, Exq. Wong Yun Tong, Esq.

Chan Ching Shek, Eig

LA Lan Sang, Eng.

Wong Chu Son, Esq.

Kan Ying Po, Esq.

Kan Tong Po, Esq. Chief Manager.

Li The Fong, Esq., Mansger.

BRANCHES AND AGENCIES:-

Manlia Melbourne

THE BANK OF TAIWAN, LTD. Canton

(TAIWAN GINKO.)

HEAD OFFICE:—Talpek, Formosa.

Incorporated by Special Imperial Charter. 1829.

Contes) Baal in Zamoto,

Bank-Moine lasund Avorige smosat „Tae. 14,00 AN

the

amounts as the Secretary of the Treasury decides necessary to main-Auction tain an equal purchasing power for every kind of currency."

of.

ON

FRIDAY, the 19th January, 1934, commencing at 10.30 ■.m.

at their Sales Room, 4, Duddell Street.

LAMMERT BROS.

Auctioneers. Hong Kong, 16th January, 1934.

COMING 1

STARLEY LUPINO:

fund for purchase and sales of pared to bring a greater degres of While: claiming his scheme is an Gold, foreign exchange and Gov stability in foreign exchange rates, argument against printing press ernment securities, as regulation of there should be added to the present money, the President states that he currency; also that the Secretary power of the Secretary of the Trea- does not believe that a limited of the Treasury, should be

emaury to buy and sell gold at home amount of non-interest bearing five A RIOT of LAUGHTER powered to deal in foreign.

ex-and abroad, the express power to and ten dollar notes as provided by changes..

The President also de-deal with foreign exchange as such" the Thomas amendment would clared that Governments can,

regarded as "Greenbacks."

KÜ

be

Also he has no doubts of his ability to stabilise the dollar, more than once between 50 and 60 per cent. limite.

move 'will

$2,000,000,000 · Fund Cotton: New York Cotton Ex-well as they have in the past, em

From the profits of any devalua- ploy a silver basis for curreency Lion, the President suggested that Jan. 13 Range Jan. 15 Range and he looks for a greater and in there should be established a fund Jas. ....10.88 10.88

11.34 11.34 creased use of silver. Wheat: of U.9 $2,000,000,000 for the pur- Mar. ...10.99 11.00 11.40 11.42 There was increased buying May...11.15 11.17

on chase and sale of gold, foreign ex-

He believes that the United, 11.54 11.56 the report of the gold advance to change and Government securities, States stabilisation July .11.92 11.32

11.70 11.72morrow to $34.45 per ounce and on as the regulation of currency, main-hasten the fixation of other nations* Oct.....11.49 11.50 11.91 11.92 the belief that mild and controlled tenance of credit and general wel-currencies. Dec. ...11.04 11.04

12.05 12.05 Inflation was the President's aim. fare of the United States may re- He estimates that the nominal Middling

Statistics were more bullish. Cot-quire.

Government profit in consequence Spot ..11.25

ton: The President's monetary He foreshadowed amendments to of the reduction in the gold con message was the chief bullish in existing legislation relating toltent of the dollar will be between Wheat: Chicago Board of Trade:fluence, although Improvement in dealings in gold and other monetary U.S.$3,400,000,000 and U.S.$4,200,-

Jan. 13. Jan. 16. other markets stimulated buying: matters, and added that the other 000,000.--Reuter.

87% 911⁄4

Silver: The market was firm at precious metal, silver, had been used 857 89% B

91%

11.65

CHICAGO WHEAT.

May

July

September

Total sales for the day:

20,000,000

10,000,000 bushels

bushels NEWLY MINED GOLD: (WASHINGTON).

Amoy

Scattle

Batavia

Semarang

Bombay Calentia

Nagasaki

Shanghai

New York Onaka

Singapore

Sourabaya

Haiphong

Paris'

Swalow

Hankow

Teining

Syndey

Honolulu

Penang

Kobe

Rangoon

Kowloon London

Saigon

Tokyo

San 'cisco, Vancouver Yokobama

per ox.

Reconstruction Finance Corpn's buying price,

34.06 34.06 NEW YORK- METALS:

Jan. 11 Jan. 1

Talboku Tintain

Jan. 18 Jan. 15

On and after August 18th, 1983, the Every description of Banking and rate of Interest on Special Current Exchange business transacted. Loans Copper, March, per lb 7.05 7.16 Deposit will be at 29% pin on dofis | zranted on approved securities. balanse and the rate for, balance over Current Accounts opened in Losal Tin, March, per lb. .. 62.30 62.76 $10,000 will be quoted on application. (Maximum rate-1%%%),

LONDON BAKEERA,

Burdayı. Bij Lal, Kapis funk, Iss. Midland Bank, Lid., Mammlunge Bank. "Lad

The Beak hos Carrespondenta la all the priazept: Jummarital Ovalem throughout the vald K. MAGUNA,

BONG KONG BHAMON,

4. Die Vour Road Central

Bana Leeg. Darbankar R, Sat

LIMITED,

- THE YOKOHAMA-SPECIE÷KANK,

Established 1834......

Beserve Fund....

6.Yen.121,250,000

Vägazaidi.

New York Oiak

Currency and Fized Depositu racalred For one year or shorter periods in LOOK], and Foreign Currencies on terms whách. will be quoted on applicat

Safe Deposit Boxes

LAN TONG PO,

Chief Manage Hong Kong, 24th November, 18533

EXCHANGES.

TO-DAY'S QUOTATIONS. On London STAT

T7844 On demand

1/544.. Four, months' sight; 1/5%- AMERICAN EXPRESS, COMPANT, Credits 4 months'

1/6%

THER

ING.

New York...

Capital

*Barplus

Esseryos

BRANGHES --

.1.1.95.000.000.00 U.6.81,587,069.17 U.2.$11,718,979.57

Mexico City

"It is used as such by prob. ably half the population of the world, and it constitutes. most important part in our own monetary structure,” he atated,

·

LITTLE REACTION

IN LONDON

the opening, advancing about sixty from time immemorial as a metallic Įpoints, following the President's basis for currency and also as actual [message, Prices, broke seventy-currency itself,

eight point and then rallied thirty points on the announcement that

(Continued from Page 1.) to-morrow the gold price would be

Discussing the effect on British $8445 per ounce. The; withhold::

|export trade, the newspaper points ing of a recommendation by the

out that a 60 cont dollar will be President in, connections with the

disadvantageous ̋owing to a slight monetary use of silver for the pre

“Silloi Cannot Be Neglected accentuation of the existing under sent, promoted, an active, wave pt “Silver is such a crucial factor valuation of the dollar in terms of liquidation, Congress has voted to in much of the international trade world commodity prices, but if Pre- extend the RF.C. for one year." of the world that it cannot be ne-afdent Roosevelt's expectations are

Business Done: 8,740,000 (sääres,

glected."

fulfilled, the disadvantage should be Last Today's He recalled the proclamation of only temporary, ***December 21, providing.coinage for

15 newly-minded állver,

Air: Reduction

American Can

"By this meaiute we are în

Facing the Music

JOSÉ GOLLINS

* NANCY

BURNE

Fasturing the Gras) Micient Mit ('VE FOUND THE RIGHT GIRL Discled by HÁRRY HUGHES

LIMITING RUBBER PRODUCTION

Agreement Unlikely.

The Hague, To-day. The International Rubber” Asso- Commenting on President Rosse elation will hold a meeting within velt's monetary 'announcement, The a few days, which it is expected that Timis states, that by making the British will be invited to attend

Allied Chemical & Dyg 1456 157 creasing our reserves of, silver move in the direction of stabilisa-ito discuss the report of the Restric

American Smelting

053 09**

454

American: TR 18-117 118 American, Tobacco *H* 691⁄4*** 71*. American Waterworks 19% 21

bullion, thereby, putting... ustion, President Roosevelt is doing tion Committee.

GAMUAGA ACopper Mining 14 w/ 16%, he saidAA

|Bendix" Aviation

Borden

Canadian Pacific

Caterpillar Co

Chase National Bank Chrysler Motors Consolidated Ga of NA

Curlins Wrightons Da Pent de

Fartman Kodak **** Electric

lectric Auto-lite Co

Electric Bond & Share

actric Power & Light

General Electric 196

sight;

On New York---

On demand

38

Credita, 60 dayÉ

sight

On Paris

On demand

600

Cradita, 4 months.

sight,

640

On India

T. T

-98

On demand

98

General Foods

On Bhanghai-

General Motors

-On" demand"

[110]

Gillette Safety

Gold Dest

On Japan:-

*On demand

124

Internet

& Tel

On Manila-

Liggett

,75%

On Singapore-

Blacatt

On demand

68

National City Bank

On demand

58

On Balgon

Capital (fully pak-up) Yen100,000,000.

Head Offer?—YOKOHAMA,

Branches and..

Alexandria

Bombay.

Calentta

Cambo

Dairen (Dalny) (Fangilan, (Mulden) : Bla

Hamburg

Hankow

Harrin

Hear Lor Homolala Halaking Karachi, Kobe

London

|_ Angeles

Branches of Amariess Harper Dany · în Principal Btates of Arsarios:

All elmises of Cóm Transactions

- On demand

On Batavia-

17 On demand.

king On Bangkok-----

On demand Bovereigns ban

Deposita peceived

The Company ·

Internat. Harrester

Tel

National Dalry, Produ Odia Elprater 40N

Pacido Gas & Electri

Radio Sears Roebu

Standard

Standard

ingra

Bir Silver por or

1/6% 19:11/

Bar Blver in Hong

Kong Copp

: among the first nations to cur- something to lessen the uncertainty. It is generally conceded that a cry out the Silver Agreement,” which prevailed in regard to the definite solution in more remoter

futurs of the dollar, and which owing to the diffenities, which have This Agreement in distinctly a checked a revival of confidence. arisen from the recent negotiations. step in the right direction. We are The Daily Telegraph considers-Beuter proceeding to perform our part of that the value of the massage lies 73% the agreement after reviewing the in the removal of all uncertainty in pledges given at the World Econo-regard to the American policy, but Bamic Conference ***

atids that President-Roosevelt is

16%

2

If all these vundertakings are still faced with the problem of keep- 2 carried out by the Government'à ing the dollar down to the level he

concerned, becontinued, "there regards as vital,jų

will be a marked increase in the According to the Daily Telegraph'a 161⁄41⁄2: use and value of silver, >

36%

"Governments can's well:

LOCAL DOLLAR

ADVANCES

Silver Still Rising

The dollar has, advanced a furr political correspondent, a Cablet thera, openingsto-day at 1/1.7 moeting will to-day consider, pos

Bilver prices advanced yes-

ard at 197

100% 21% ploy alvor as a basis for curable harmful decco of President Corday, oppt closing at 19 11/16

rency 1 look...forward to Roosevelt's policycon British trade. and greatly increased use of silver. The Financial News thinks that However, I am withholding any contemplated depreciation of the racommendation to Congresal look-dollar may result in

ing to further the extent of the cation against the

cuses of silver, because this depreciation pe

wey shou kain a more scale, it is conceival

the dent Roosevelt's set other the franc's President

two clous metals und

With this go05:

the Government

time to time the

Torkfo

London-on-New. G$5.19%, while New:

on a large US. GOLD PRICE INCREASED

from:

(Continued from. Page: 1.) President Roosevelt - har issued ordersy for the Government lation of foreign exchange transactions," "extending.

bence policy to: Individitals-am

to rains to be obta

me, hong, 11th