1934-03-20 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION,

Authorised. Capital

Tamask and Willy Vilap mana

Kaverve Funda kom

B2100 Ameri1,000,

Bossers Liability of Proprietors com $20,000,000

HELD OFFICE: HONOLOKO.

BOARD OF DIRECTORI,

HAM 39. Mackle

W. 11. Beil, Fag.

Chairm

3.P. Warren. Eaq.

Deputy Chairman.

K. M. Morrison, Tag.

A. IL. Compton, 3%.

O, Miskin, Emg.

C. C. Knight, hing.

AMOT.

BANGKOK BATAVIA BOMBAT CALCUTTA

CANTON

OWETOO COLOMBO

MAIR

POOLITA W

HAIPHONG NAMAUNA

TONEKEW

HAKKOW

JANDIS

Ilona

JONORE

KURE

HOWLOON

Ben, Mr J. J. Palarmon

T. E. Parte

V. M. Graybarn, Zaj.

Chief Manage.

BRANCHES --

LOKDOX

LYOKB MALACCA MANILA MGAR (aboen)

WURDER NEW YORK

РЕТРИО PERANO BANG001

KAMION

SAN FRANC800

KUALA LUMPUR

BRAMURAH-

SINGAPORE

BOMBANATA -RENARĪ PATANT

TIENTRE

TOETO

IKINGTAO

TOKOLIANA

Cament Arroute opened in, Loʻil OurmarT and Miend Deposits received for the year de tharter periods in Iral Complay and Biurfing sa terma which will be quoted in application. Hong Kong, 28th February, 1934.

HONG KONG SAVINGS BANK.

The Businen of the showy Bash ka naukur

ho the RONGKONG AND SHAYORAJ BAKKING CORPORATION. Kalou may be ebislead on applieliem.

FOR THE BONGKONG AND SHANGHAI BANKING CORPORATION.

V. W. GHTBURN.

Chief Manager. Hong Kong, 26th February, 1984

SAFETY FIRST !

To Safeguard Your Valuables and Jewelleries,

Deposit them in a Fault

that in really:

FIRE - PROOF

BURGLAR - PROOF

DAMP - PROOF!

OUR SAFE DEPOSIT VAULT

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1853

of

HEAD OFFICE: LONDON_

Paid-up Capital

Reserve Fund

£3,000,000 £3,000,000

Reserve Liability of Pró

prietors

£3,000,000

Agencies and Branches:

Alor Star

Rangoon

Amritsar Ipak

Saigon

Bangkok Karachi

Semarang

Bilavia

Klang

Seremban

Bombay

Calentia

Robe

Shanghai

Kuala

Singapore

Canton

Lumpur

Sitiawan

Cawnpore

Kuching

Ceba

Madras

Colombo DePal

Manila

iping Tientsin

Medan

Tongkah

Haiphong

New York

Pelping

loented on the Mezzanine Floor Our New building is Specially Con-} structed to provide all of these Im- portant Qualities.

You

may obtain

Safe Deposit]

Vault Box in thủ most up-to-date for your own uso 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 BANK OF TAIWAN, LTD. (TAIWAN GINKO.) HEAD OFFICE:-Taipeh, Formos Incorporated by Special Imperial

Charter, 1890.

Caryal Bank in Parmont. Fark Ketos found Avirago amount ...Yen, 53, 900 Nor

Hamburg Hankow

Harbin

Hong Kong

ETHIN ATMAIL.

TUESDAY, MARCH.

US. INTERMEDIATE CREDIT BANKS CHILDREN'S

(Bhuker) ThingLao (Peking) Yokohama

„Zamboangs Penang

Foreign Exchange and General Banking business transacted.

Current Accounts opened and Fit el Deposits received for one year or shorter periods at rates which will be quoted on application.

W. H. E. THOMAS,

Acting Manager. Hong Kong, 20th February, 1934

THE BANK OF CANTON, LTD.

Established 1912.

Head Office:-Hong Kong.

INTERMEDIATE 12 FEDERAL RESERVE COTTON, SILVER

CREDIT BANKS

Roosevelt's Message

To Congress.

NEW EMPLOYMENT FOR

378,000 PEOPLE

$700,000,000 Capital Required

DISTRICTS

NEW EMPLOYMENT FOR 378,000 PEOPLE

BANKHEAD BILL SUCCESSFUL.

Passed In House By

Washington, To-day. The creation of intermediate credit banks to provide long term capital for industry, was recom- mended by President Roosevelt in

Big Majority. a message to Congress yesterday;

SPECIAL TO CHINA MUL Immediately after the reading] of the message, identical Bills (By Telegraph, Copyright. Telegra were introduced into both Houses) phie Massages Ordinance, 1194. 20 providing for the establishmentceived March 20,,7-44 am.) " of credit banks in each of the 12 Federal Reserve Districts of the United States, capitalised by the Government with US.3146,000,-| 000, and empowered to borrow five times that amount.

The banks' lending powers would include discounting for, or purchasing from, any bank, trust company, mortgage com- pany, industrial credit corpora- |

Washington.. Today, The House of Representatives yesterday passed the Bankhead Bill by a vole of 251 to 114.— United Press, per S.C. Gold Bar Co.

FEDERAL RESERVE POWERS.

Liberalisation Of Stock Exchange Bill.

SECURITY CREDIT LIMITED.

AND WHEAT

Latest Quotations.

NEW YORK COMMODITY MARKETS

| New York, Mar. 20:

PLAY GROUNDS

ASSOCIATION

(Continued from Page 3)

In proposing Sir Thomas Sõu- · thorn for re-election, Mr. M. K Lo drew attention to the valuable assistance and guidance given by Sir Thomas during the past year, when. In spite of having just re-

Messrs. Aala Lands Ltd. have returned from long leave, he had thrown himself into the work of calied the following quotations on the New York cotton and wheat the Association and given them his. rubber, silk and silver exchanges valuable time on all possible oc- n the Commodity Exchanges Inc. casions. Mr. Arculli seconded Mr. Lo's motion which was carried New York:-

with applause. Closing" Commodity March 19,

SILVER

Price

סם

Other elections were: Vice President--Dr. Ts'o

Hon. Secretary-Mr. J. L. Me-

Silver: Commodity Exchange Inc. Pherson of New York:"

.46.59 46.59

Mar: 17 Range Mar. 19 Range .46.10 46.15 45.50 45.55 45.85.45.85

Sept.47.00.47,08 ·

SPECIAL TO CHINA-MAIL... May {By_Telegraphy. Copyright, Telegra- phic Messages Ordinance, 1894, Re July ceived March 20, 10.35 a.11.)

.47.75 47.75

46.25 48.25 46.90'46.90

4

Dec. Washington, To-day. Representatives Rayburn has Total sales for the day: forwarded

184 contracts of] # resolution for the 124 costracts of — #beralisation of the Stock Ex 25,000 ors, each 25,000 os, each change Control Bill, authorising

Market:-Easy. the Federal Reserve to raise the

RUBBER.

TYDINGS-McDUFFIE |margin requirements, and, under Rubber: Commodity Exchanes

extraordinary circumstances to Inc. of New York: lower them.

BILL PASSED.

tion or any other financing Insti- Immediate Consideration tusions in their respective dis-

Not Asked. **tricts, obligations with maturity

Aktberived Capital (IL.H. Ourrency} –E31.00P, W Fold-Up Caglia

BRANCHES ----

1.184,90

nut exceeding five years and en-

Giant, Singil, Bankov, Bangkok,tered for the purpose of obtain-

and Ben Francione

LONDON BABYXS81–

The Layền Book, Limited. DCL-RESPONDENTE

In all principal shine of the World.

Vorsign Fundango and tanking bedlam c tvory desertpilan sessantak

Sale Dapri Borse (various siasa) aì m psa!! read from 81 de ́948.

LOOK POONG SHAN.

Chief Manager. THE BANK OF EAST ASIA, LTD.

Authorised Capital Paid-up Capital Reserve and

Profils

SPECIAL TO CHINA MAIL.

By Telegraph, Copyright. Telegra ing working capital for any es-

phic Meranges Ordinance, 180, Re tablished industrial or commerceived March 30, 7.59 0.8.) cial business,

Washington, To-day.

Mar. 17 Range Mar. 19 Range

10.66 10.66

10.82 10.85 11.18 11.15

Credit for securities would never (Mar....11.13 11.13 exceed more than 75 per cent of May....11.28 11.28 leurrent market prices-United July ...11.58 11.58

Press, per S.C. Gold Bar Co.

Standard No. 1 "B" Contract. Total sales for the day:-

WO-THIRDS VOTE

NECESSARY.

Fiesinger. Bill Held Up

By Roosevelt.

Washington, To-day.

185 contracts 859 contracts

SILK.

Silk: Commodity Exchange Inc, of New York:

Mar.

Mar. 17 Range Mar. 19 Range

-1.33 1.342 ... 1.33 1.33

SUGAR. Sugar: New York Sugar & Coffee Exchange:

Mar. 17.Mar. 19.

DIRECT LOANS

The House of Representatives, They would also be authorised to; make direct loans if it appeared without a record of the vote, yes. that any established Industrial or terday passed the Tydings-McDuf- commercial business was unable to fte Bill.

Senator Tydings introduced the obtain the requisite financial assis

Committee report tance on a reasonable basis from

in the Senate, A two-thirds majority vote will but did not ask for immediate con-be required for the passage of the .... $10,000,000.00) the usual sources,

Dics Bill. $ 5,598,600.00

{sideration. Undivided

Action on the Fiesinger Bill has Consequently, when the Senate. $2,434,000.00

will vote on the measure is uncer-been postponed at the request of HEAD OFFICE:-BONG KONG

lain.-United Press per S. C. Gold President Roosevelt, who, accord- 12, Des Voeux Road Central.

Bar Co.

ing to Speaker Rainey, will make an announcement an the BOARD OF DIRECTORS:--

situation, to-day-Reuter, Sir Shouson Chow, Chairman.

Li Koon Chun, Esq. P.. K. Kwok, Esq.

LANCASHIRE May

DISTRESS.

Wong Yun Tong, Esq.

Chan Ching Shek, Esq.

Li Lan Bang. Esq Wong Chu Son. Esq. Kan Ying Po, El.

Kan Tong Fo, Esq, Chief Manage. Li Tie Fong, Esq., Manager,

BRANCHES AND AGENCIES--- |Amoy

Manila Scattle Melbourne Semarang

Shangha Bingapore Sourabaya Swator Byndey

Batavia

Bombay

Calcutta

Nagasaki New York

Canton

Oraka

fisiphong Hankow

Paris

Peiping

Honolulu Kobe Kowloon Landon

Penang

Rangoon

Salgoo

Son F'eleco

When the loans are made through a bank

ather or financing institution, the in. termedhte credit bank would have to make itself responsible for 20 per cent. of any loss, Credit banks would be chartered by Federal Reserve banks and joperated subject to the regulations

of

the Federal Reserve Board. They would continue to exist for a period determined by the Federal Reserve Board, and could establish branches.

LOCAL DOLLÅR STEADY.

Silver Prices Decline.

March

1.45 1.43

May

1.55

1.53

July

1.61

1.59

Market: Quiet.

COTTON.

Cotton: silver change:

New York Colton Ex-

Mar.

July Oct.

Mar. 17 Range Mar. 19 Range ...13.04 12.04 11.91 11.91 ...12.13 12.15 .12.24 12.26

Breakdown In Anglo *Jap. Negotiations.

PROMPT AND ENERGETIC MEASURES URGED

London, To-day,

In view of the breakdown in the

The local dollar remains steady, opening on demand this The Treasury would provide the morning at 1/6.

Spot and forward silver prices. (original apital for the banks hy

buying from the Federal Reserve declined 4 yesterday, closing at banke, from gold devaluation profits, 19 and 19-15/16 respectively.

The London on New York cross' and from stock subscribed by Federal Reserve

at £-U.S. banks

fn the rate closed yesterday Federal Deposit Insurance Corpora- $5.001, as compared with U.S. Anglo-Japanese negotiations and ition.

$5.08 on Saturday while the the increasing distress in Lan- New York on London cross AUGMENTING CAPITAL

rate cashire, most prompt and energetic| Creaft banks could augment capl-closed at £-U.S.45.10%, as com- measures are urgently necessary to tal by the sale of stock and the pared with £-U.S.$5.091% on Sa- preserve and extend the colton trade Issue of debentures up to five times turday. their capital surplus.

President Roosevelt, in his mes-

Talhoku Tientsin Tokyo Vancouver Yokohama

Every description of Banking and

Lantage, estima to the US$700,000, Exchange business transacted, granted on approved securitier.

Current Accounts opened in Local

000 working capital was

required!

On and after August 18th, 1933, the Currency and Fixed Deposits received for the smaller industries which rate of Interest on Special Current for one year or shorter periods in "may continue to employ some Deposit will be at 2% p.a. on daily Local and Foreign Currencies on 336,000 employees and to furnish balance and the rate for balasiee over terms which will be quoted on appll- $10,000 will be quoted on application.ention.

new employment for some 378,000 (Maximum rate-10%).

men and women."-Reuter.

TANDON BAKKIM,

Barclays Bank, Lal.. Kozů Boak, Jak Mided Bank, Lád., Warmistine Bauh. Lat.

The Bach, bus Gerrigandagie is all the_pelampal

2010 2010 LANG:

3. Do Your Hood Central,

Ang Tuaj. Dicombor 96. 2015.

Safe Deposit Boxes To Let

KAN TONG PO,

Chlef Manage. Hong Kong, lát March 1994.

....

THE-

AMERICAN EXPRESS COMPANY, INC.

Head Office: 65, Broadway, New York.

THE YOKOHAMA SPECIE BANK Capital.

LIMITED.

Established 1880

Capital (fully paid-up) Yén.100,000,000

Reserve Fund

Yen.122,760,000)

Head Office-YOKOHAMA:

Branches and Agencies at:

Alexandria

Batavia

Berlin

Bombay

Canton

Nagasaki

Nagoya New York

Peiping

Dairen (Dalny Fengtian (Mukden) Rangoon

Hamburg Harko

Hainding Karach Kobe

de Jeneiro Francisca Beattle

Semarang

Bingapore

Boerabaya

Sydney

Tanktam

Tokyo

Vinkkow

London.

101: Angelu

Manil

allowed ou

STIMULATION TO RECOVERY.

Provision Of Capital For Industry.

SPECIAL TO CHINA MAIL.

(Be Telegraph, Copyright, Telepra

BYRNS OPPOSES DIES BILL

(Continued from Page 1.)

Administration Does Not Oppose It.

DIES OPTIMISTIC

SPECIAL TO CHINA NAID : (By. Telegraph, Copyright, Telegra- phic Message Ordinance, 1894, "Eo- ceived March 20, 9.48 am,}

Washington, To-day.

.12.36 12.36 · Dec.....12.47 1247.

Jan.....12.52 12.52

Chairman of Executive Com- mittee

-Mr. M. K. Lo

Executive Committee-Messrs. G. R. Sayer, A. el Arculli, Tang Shulkin, and J. Graca Ozorio.

Mr. P. S. Collison was elected on, Auditor in place of Mr. W. J. Carrie, who goes on leave shortly.

A vote of thanks was accorded Mr. Li Hol-tung, retiring Hon. Treasurer.

NEW ADVERTISEMENTS.

QUEEN'S COLLEGE.

THE 19TH ANNUAL SPORTS will be held on Queen's College Ground, at Causeway Hay on SATURDAY, March 24th, com- mencing at 2 p.m.

Mrs. N. L. Smith has kindly conf- sented to present the prizes.

All friends are cordially invited.

SPORT NOTICES.

THE HONG KONG JOCKEY CLUB.

11.98 11.96 DRAFT PROGRAMMES

12.08 12.09

12.21 12.21

12.32 12.82

12.20

ENTRY

and

FORMS for the SECOND EXTRA RACE MEET

ING to be held on

SATURDAY, 12.88 12,36 31st March, and MONDAY, 2nd April, 1934, (weather per- mitting) may be obtained at the Secretary's Office, Gloucester Bullding; the Club House, Happy Valley; the Hong Kong Club; the Sports Club; and the Stables, Shan Kwong Road.

Middling

Spot ..12.85

WHEAT. Wheat: Chicago Board of Trade: Mar. 17 Mar. 19 8734 87% 87 87% September 88% 88 Total sales for the day:-

10,000,000

May July

10,000,000 bushela-

bushels AMERICAN GOLD PRICE: (WASHINGTON),

in the markets of the world, and no secure the re-employment of thou-U.S. |sands of Lancashire workers and

testation of Greek Britain's

largest export, industry, declares a resolution sent to the President of the Board of Trade, Mr. Walter Runciman, by the Executive Com-. mittee of the Cotton Trade League, at Manchester.--Reuter.

Japanese Awaiting Instructions.

NEGOTIATIONS, HELD UP.

London, To-day,

Mar. 16 Mar. 19 Treasury Gold Price, per of

ן *

35.00 85.00

REPLY TO US. STRIKERS

(Continued from Page 1).

250,000 Workers Will Be Affected

FAR-REACHING THREAT

SPECIAL TO CHINA MANG (By-Telegraph, Copyright; Telegra

A question was asked in the Housee Masagas. Ordinance.) 1894 Re-

Representative Dies, prior to the of Commons yesterday regarding ceived March so, his am

* an interview between the President

phic Meuages. Ordinance, Fall, Re-vote on his Bill, said: ceived Merck 20U RAM L

U.8.25,000,000.00

Surplus.

Reserves

II. Lưới thiếu ‚U.8.$1,718;979,87

*

BRANCHES

Main City

Geneve

Branches of American Exprman-Com- pany to Principal cities. of United Jätates of America; and Canada,

ช.

All classes of Commercial Banking Transactions" undertaken.

Personal Investment

+

***Washington," To-day,

"While we have not received in of the Board of Trade and the Automobile Industrialisto, re- Washington, Today. formation that the Administration Japanese Ambassador, which took presenting all the leaders, except Senator Fletcher has forward- sanctions the Dies But I can place following the breakdown of Mr. Henry Ford, are holding a con- led it resolution creating 12 asure you that it does not oppose conversations last week between reference here concerning the strike credit banks, one in each Federal United Fress, per 8.C. Gold presentatives of the Lancashire and which threatens to paralyze 250,- Reserve district, to stimulate re-Bar Ce

Japanese textile Industries.

000 workers, directly,-end – other covery by providing capital for

Colonel Colville' replying, said workers in steel, coal and rail- Industry direct from part re

that the Japanese Ambassador had joads-United Press, per 8,C. Gold intimated that he would communi-Bar Co. cafa with his Government. He was unable, at present, to say anything further-British Wireless Service.

valuation of profits.

The credit banke would be em- powered to discount paper and to make loans to banks, corporations (and other institutions, United

Press, par 8. C. Gold Bar Co.

AID TO THE SMALL BUSINESS:

Roosevelt's Urge

SPECIAL TO

Rainey Alters His Plans.

ONLY DIES BILL VOTE IN. THE HOUSE

Washington, To-day?" Speaker Rainey -- yesterday altered his plans and decided to permit only the Dier Bill to be brought up for veiingin the House of Representativés.

Reuter

AVIATRIX TOKYO

HENRYKESWICK UNSUCCESSFULA

(Continued from Pess LE The Henry Keswick

jaister

PUBLIC AUCTION:

THE Undersigned have rece

Instructions to sell by Publle

Auction

now atand,S ON

the MONDAY, the 26th March, 1034; obtain -* commencing at 2.30 pm:

ex- at their, Kowloon Sales Room,**

„35: Hankow Road, Kowloon,"

“A Very line and valuable Con

Oriental Persia

Sefrom:

Entries close at 12 o'clock NOON on THURSDAY, 22nd March, 1934.

By Order,

C. B. BROWN,

Secretary, Hong Kong, 19th March, 1934.

1000 SURPRISES

AND SENSATIONS!

:

FOOTLIGHT PARADE

Deposits received for fixed

Hong Kong, March-11.