BANKS
HONG KONG AND SHANGHAI
· BANKING CORPORATION.
Autharland Cxp
Iwood and Fully Fold:05 ONDE ON THEY
Beserve Funde
Wheating ₫ 3,206,000 སཡ-1h་
$3,000,000 3,000,000
Rower Liabilng of Proprietors #20,000; 00
HEAD OFFICE HONGKOND,
BOARD OF DIRECTORS.
Hen. Mr. 4.4.8. Binchle
Chairman
3. F. Warren, Esq. Departy Chairm
Bon, Mr. W. H. Bolt
A. 17. Compton, ENG
W. Kewick, Raq. C. C. Knight, Bing,
AKOT
BANGKOK BATAVIA BONDAY CALCUTTA
CANTON CHEFCO COLOMBO DATREN
POOCHOW HAIPHONG
HANKOW
HARDIK
HUNDKEW
"ITGE
JOHORE
KOBE
KOWLOOK
G. Miskin,q,
KM, Morris, Baq.
T. F. Pentre Lt.
T. M. Grayburn, -Log.
Chief Manager,
BRANCHES-
LONDON
MALACCA MANILA
MEAT (Johor) HURDEN *NEW YORK
TELPING PERANO BANGOON
БАТЦОМ
BAN FRANCISCO
KUALA LUETUZ
SHANGHAI
BINGAPOR
ROUBABATA
RUSOE TATAKE
TIENTAIN
'TOLTO
161x0740
YOKOBAMA
THE CHARTERED BANK OF ́INDIA, AUSTRALIA & CHINA.
Incorporated by Royal Charter, 1853. HEAD OFFICE: LONDON.
Paid-up Capital
Reserve Fund
Reserve Liability of Pro-
prietors
£3,000,000 .£3,000,000
THE CHINA MAIL.
and
Commerce
Finance
CANTON INSURANCE, OFFICE LTD.
£9,000,000 $7.40 Final Dividend To
Be Recommended,
Agencies and Branches:
Alor Star Illallo
Amritsar
• Inab
Bangkok Karachi
Batavia Bombay Calcutta Cantoa Cawnpore
Cebu
Klang Kobe Kosia
Lumpur
Kuching
Rangoon
Saigon
Semarang Seremban
ngapore Sitiawan Sourabaya
Madres Manila
Taiping Tientsin
Medan
Tongkak
Haiphong
New York
(Bhuker)
Hamburg Hankow
Peiping
Tsingtao
(Peking) Yokohama
Penang
Zamboanga
and
Colombo
Delhi
Harbin
Hong Kong
Banking business transacted
NEW YORK STOCK EXCHANGE
A.O.F.C. Quotations.
New York. Yesterday. Dow Jones Averages.
Aver. Aver.
The General Agents and Con- sulting Committee of The Canion Insurance Office Ltd, will, at the
30 Industrials Share- 20 Rails .... forthcoming Meeting of holders to be held on Friday May 20 Utilities 25, recommend a Final Dividend 40 Bonds
"Ex-Commodity of $7.40, together with an
Last Today's Changes 105.92 105.31 $1 down 50.56 50.18 38 down 26.64 26.32 .22 down 95.18 25.03 15 down
51.28 50.85 .43 down Index ..... change" Bonus of $1 per share in
Messrs. E. A. Pierce & Co. Re- remain aharply respect of Working Account for 1932, and $239,961.25 to Reinsur-port:-Opinions ance Fund and $345,323.74 to Un-divided on the question of further business improvement at this parti- derwriting Suspense Account.
Foreign Exchange General They will further recommend cular time and perhaps this differ- Current Accounts opened and Fix-the payment of an Interim Divid-fence of opinion furnishes one reason ed Deposits received for one year or end of $3,60 per share in respect for the uncertain tone. We see no shorter periods at rates which will be of Working Account for 1933, and particular change in the immediate quoted on application.
that the balance of $1.669,174.86 future. Wheat: There was renewed
WH. E. THOMAS,
Acting Manager. Bong Kong, 20th February, 1034.
Correct Amount opened in Lars THE BANK OF CANTON, LTD. adé Fixad Deponite moved for one ye skorter periods to Lord Dempsey and Eveling an koera which will be quolas on application.
▾ Hong Kong, 13th April, 1034.
HONG KONG SAVINGS BANK:
The Business of the abova Bakk to mondust
ed by the HONG LANG" AND SHANGHAI SANIING CORPOBATION.
thisisel, appllation.
Kulon may be
FOR THE BOKOKONO AND SHANGHAI SANKING CORPORATION.
7. M. OKAYBURN,
Odger,
Hong Kong, 26th February, 1934
SAFETY FIRST!
To Safeguard Your Valuables. and Jewelleries. Depoelt them in a Vhult that is really! 'FIRE-PROOF BURGLAR - PROOF
DAMP PROOF!
OUR SAFE DEPOSIT VAULT
Established 1912.
Head Office:-Hong Kong.
Siberian Capital (B.K, Curvbony) ... 11,1987.000 Pall-Us Capilanoomdom Ascent to the Besarto Fuad saman sem
BELNOUTE 10
Canton, Shanghai,
1,1b,
Banków, Bangkok,
Brannteon,
LONDON BANKEES (---.
The Lloyd's Bank, Idoribed. DORMESPONDENYN
Şu ali principal cibles of the World.
Forsig Exelange and banking bostham of
very
stipon aranmesed.
ale Dsport Bete (various sinus) až + piarly rosal of from 185 44 644,
LOOK POONG SHAN.
Chief Manager.
THE BANK OF EAST ASIA, LTD.
Authorised Capital Paid-up Capital Reserve and Undivided
Profts
BOARD OF DIRECTORS:--
Sir Shouton Chow, Chairmani.
Li Koon Chun, Esq. P. K. Kwok, Esq.
located on the Mezzanine Floor of Wong Yun Tong, Esq. Chan Ching Our New building is Specially Con-Shek, Esq. Li Lan Sang. Esq. Wong structed to provide all of these Im-Chu Son, Esq. and Kan Ying Po, E34, portant Qualities.
may obtain a
You Box In this most up-to-date Vanil for your own use at a very moder- ate Rental.
Kan Tone Po. Esq, Chlef Manager.
LA Tee Fong. Esq. Manager,
BRANCHES AND AGENCIES:--
Manila Melbourne Nagsaki
Shanghai Aingapore
be carried forward.
EXCHANGES.
liquidation due to fear of rain, which is doubtful and to the sub- sidence of inflation possibilities." Shorts seem to be the only buyingi power. "Cotton: Prices closed atj what was practically the low levels; for the day. There was heavy liqu!- dation of near months and the rally-1 ing power of the market was feeble.1
Youngest Ladybird.
Joan Hughes Spurred on by her ambition to be the first woman "taxi driver" of the air, 15-year-old Joan Hughes bas become England's youngest mir- plane plot. After only 124 hours' tuition, Joan made three sole fights. She is shown with her tiny Moth plane after a flight near London.
T
WEDNESDAY, APRIL 25, 1934.
Japanese Dumping In Hong Kong
:
Government Sympathetic To Local Company
GREEN ISLAND CEMENT CO. SHOW LOSS OF $257,000
·
"Your board have considered, from every aspect ways, of în- creasing business and combating the very severe competition with which we are faced from Japan-in which relation I would like to state that the attitude of the local Government is a sympathe tle one, and they have advised us that in future a proportion of your Company's product will be used on all works of a public na ture," said Mr. J. Scott Harston, Chairman of Directors, at the annual meeting of the Green Island Cement Company, Limited, at the Exchange Buildings, this morning,
•
"It will be observed from the Profit and Loss Account that the loss for the year amounted to $257,472.14, and that we have transferred from General Reserve a sum of $357,052.63 to cover depreciation, the writing down of raw materials, cement and ma- chinery stores. This transfer, which was recommended, by our Auditors, was necessary because your Company was unable to meet these charges from its Working Account" continued the Chairman.
Those present at the meeting,item "Stocks at Hok Un and Macao", were Messrs. J. Scott Harston as written down, now' stands at $1,988,344.0. The writing down J. H. Taggart, A. L. Shields, of such Stocks was deemed prudent
Worth Street was quiet and easy: COTTON, SILVERT E. Pearce, and Li Tse-fony owing to the depreciated prices now
Silver: Heavy selling was credited to Far-Eastern accounts together with local liquidation on the uncer- tainly in connection with silver: legislation becoming uncovered, break. stop-loss orders crusing Liquidation for May was absorbed on the scale-down by interests with banking connections.
Business Done:-1,270,000 shares.
AND WHEAT
Latest Quotations.
NEW YORK COMMODITY
MARKETS. :-
New York, April 25. Last To-day's - Messrs. Asin Lands Ltd. have re- Price Pricecaived the following quotations on
the New York, cotton and wheat.; rubber, silk and silver exchanges an the Commodity Exchanges Inc. New York:-
TO-DAY'S QUOTATIONS.
On London-
7. T.
On demand
1/6 1/5%
Four months eight 1/5 Credits 4 months'
sight
1/6
On New York-
On demand
364
Credits 60 days'
right
383%
On Paris-
On demand
550
Credits 4 months'
Bight
590
On India-
On T.T. and demand 9434
Air. Reduction
Dn Shanghai-
$10,000,000.00 $5,598,600.00
$2,434,000.00
On demand
11012
Amerlcin Radiator
On Japan:---
American Smelting
.02 100, Allied Chemical & Dye .148% 148% American, Can
.103% 103
15 15% 44
On demand
12034
American Tel. & Tel...12214
121
On Manila-
American Tobacco "B1. 73
72%
April 24.
HEAD OFFICE:-HONG KONG 12, Des Voeux Road Central.
On demand
73.
American Waterworks 21%
21
Anaconda Copper Mining 10%
10%
On Singapore-
SILVER.
Auburn
40%
40%
On demand
60%
Bendix Aviation
18%
18%
On Batavia
25%
25%
On demand
53%
ian Pacific
-16%
10%
of New York:
On Saigon-
Caterpillar Co.
60- 23
On demand
53
Chase National Bank. 30%
32 May
30%
On Bangkok--
Chrysler Motora
52%
52
July
.44.85 44.85 ...45.15 45.15
43.00 43.05
43.40 43.40
On demand
130
Consolidated Gas of N.Y. 384
38
43.60 43.70
Sovereigns bank buy-
Curtina Wright
4%
ing rate
1/634
Du Pont de Nemours
.. 90%
90%
Eastman Kodak
94% 04
Inspection Cordially Tavited.
THE NATIONAL COMMERCIAL & SAVINGS BANK, LID.
Amoy Batavia
Reattle Semarang
Bar Silver per oz.
10 5/16
Electric Auto-lite Co.
20%
Bar Silver in Hong
Electric Bond & Share
174 17%
Bombay
Kong
Bom.
Calcutta
Corner of Ice House Street and Der Voen Road, Central.
Canton
New York Osaka
Copper Cash
пот
General Electric
Haiphong Hankow
Sourabaya Swatow
General Foods
Copper Cents
1% prem.
General Motors
Safe Deposit
Puria Peiping Honolulu Penang Kobe
Rangoon Kowloon Salgon
San Fcisco
THE BANK OF TAIWAN, LTD. Condon
(TAIWAN GINKO.),
HEAD OFFICE:-Tulpeh, Formosa Incorporated by Special Imperial Charter, 1899.
Begiral Bank is Formos
Local
Syndey Taiboku Tientsin Tokyo Vancouver Yokohama
Every description of Bankding and Exchange bugf:ess transacted. Loans granted on approved securities.
Current Accounts opened in Local Baxx-Notes Landed Average amo... Jen. 46.00 nor Currency and Fixed Deposits received
and Foreign Currencies On and after August 15th, 1933, the for one year or shorter perioda in rate of Interest on Special Current Deposit will be at 2% p.a. on daily terms which will be quoted on appli-
Jcation
Safe Deposit Boxer To Let. balance and the rate for balance over
KAN TONG PO, $10,000 will be quoted on application.
Chief Manager. (Maximum rate-14%).
Hong Kong, 1st March, 1984.
LONDON BANKERB
Barnlays Bank, Lab.. Elonia Bank, TAI Mitised Bank, Lid.. Wartenduste Bank, Ltd.
The Bass bos Correspondents'in all the priampal | Jewel Om Shroogieet the world.
RONG KONG BRANCH:
L KAGURA,
4. Doe Four Hand Copies.
Hong Kong, December M, 118.
LIMITED.
THE
on
AMERICAN EXPRESS COMPANY,
Колдо
Capital
INC.
Head Office:-65, Broadway;`
New York...
Reserves
THE YOKOHAMA SPECIE BANK Surplus
Established 1880
Capital (fully paid-up) Yen.100,000,000
Havice
„U.S.$8,000,000.00 .U.S.$1,887,089,17 .1.8.$1,718,979.67
Ecardam Bans Shanghai Bothniaplast Bla pare
Taormina Vianne -Varion
Rate of Native Interest 34% Dall
Chinese Sub, Coin ... 31% dis Hong Kong Sub. Coin par.
THE OVERSEAS NATIONAL BANK, LTD.
National Bank Building, BA, Des Voeux Road, Central
Authorized Capital Pald-up Capital
Co.
Саве.
Electric Power & Light 747
23% 2276
Gillette Safety
Gold Dost
Loew's Inc.
City Bank
39
Closing Commodity
Price on
Silver: Commodity Exchange Inc.
Apr. 23 Range Apr. 24. Rango
(Directors), Mr. T. C. T. Beck, obtainable for Cement, which, na assistant secretary and Messrs the raw materials that go towards. turally, are reflected in the value of
C. E. L. Grist, F. C. Barry the manufacture of such Cement. Frank Austin (Attorney for "In the Speech from the Chair A. J. and A. David), G. H. Potts, last year, it was stated, in referenca to Stocks, that your Board had H. J. M. de Figueiredo, A. Kit-every confidence that, despite ad-", chell, K. C. Mark, F. E. Silva, verse conditions, a material redue- A. C. Greaves and G. C. Moxon tion would be effected during the year. In view of the bad trade (Shareholders).
In presenting the report and experienced by the Company during to the the year-due, in addition Mr. Scott Harston accounts.
severe competition from Japan, to said:
1933.
+
"It is hardly necessary for me the drastic increase in taxation on to say that your Directors great-foreign Cement imported into China ly deplore having to present to this statement now appears to you such an unfavourable state-have been too optimistic, but at the ment of accounts for the year time it was made, business did ap pear to be brighter, and as there "Last year
the position in then seemed prospects of it continu- which the Company found itself ing to be so, the statement referred·· vis-a-vis the importation of Ce-to was, in the opinion of your Board ment from Japan was explained fully justified.
Poor Share Call Response. from the Chair very fully.
turn to the Similar importations continued "If you will now
the Balance Sept...45.55 45.60
throughout the year under re- "Liabilities" side of Dec.....46:10 10.10 44.00 44.10 view, with the result that your Sheet, you will observe under, the Total sales for the day:-
Company derived no real benefit beading "Share Capital" that a sim
the 186 contracts of — 558 contracts of from building activities of $5,155,401 only, out of a total of,
25,000 grs. each which have been proceeding $0,000,000, had been paid up 25,000 dza, exch
And lower down Market:-Weak.
space all over the Colony Jap-December 31, last. anese Cement, owing to the low on the same side of the Balance price at which it was being offer Sheet, you will also observe that at ed in the market, being largely the end of the year, we still owed Commodity Exchange used in the construction thereof. Messrs. Vickers-Armstrongs, Ltd, a
RUBBER.
Rubber: Inc. of New York:
Apr. 23 Range Apr. 24 Range
12.58 12,68 May....12.46 12.46 July....12.70 12.72 12.85 12.87 13.12.13.12 Sept....12.95 12.95
Standard No. 1 "B" Contract. Total sales for the day:-
590 contracts-798 contracts
I am, however, pleased to be sum of $787,805.78, and it was for able to tell you of some notable the purpose, firstly, of liquidating exceptions to the foregoing; I this indebtedness, and, secondly, of refer to the building operations reducing our Bank overdraft, that in connection with the National the Call of $3.75 per share on the Bank Building at the corner of|partly-paid shares was made by your Ice House Street, the Stock Ex-Directors in September last. That change and the new premises for Call, for various reasons, has not the Bank of East Asia, in the been a success, and because of this, construction of which your Com-your Board have again approached pany's product has been and is Messrs. Vickers-Armstrongs Ltd. of being exclusively used. Asund have succeeded in effecting ur
propose to refer to these matters rangements whereby the date for Apr. 23 Range Apr. 24 Range again later, I will limit my pre-payment of the sum, mentioned
36% 35%
38
11%
11%
22K 2214
Internat. Harvester
43.4%
41%
Internat, Tel. & Tel.
14%
14%
Liggett & Myers "B"
05
14
33%
35%
Montgomery Ward
31
31
National Biscuit
43
48
National
31% 3144
National Dairy Prod.
17%
174
Ous Elevator
15%
38%
Pacific Gas & Electric. 10%
1914
51% 5
#34%
34%
8%
8%
50%
40%
Socony-Vacuum Corpn. Standard Brande
17
164
22
21
13
13/4
45% May...1.26 1.27
27
Trans-America
7
714
Dec.
LEE FANG, General Manage
Union Pacific
.101
4614 131
United Air & Transport 244
2344
014
64 514
Packard Motors Pennsylvania Rly.
$5,000,000.00 Radio Corpn.
1,000,000.00 Sears Roebuck
New York, London and Paris Agents; BANKERS TRUST COMPANY. Standard Gas
We offer facilities for the transac-Standard Oil Co. of NJ. 46% tion of general banking business. TeXBL Foreign Exchange transacted. Stocks Texв Corpn.
and bonds bought and sold. Loans Union Carbide & Carbon 40 granted on approved securities,
THE MERCANTILE BANK OF INDIA, LTD.
HEAD OFFIÜUR +
1k, Ortonderwerk Birash, Lendon, 20%.
....£8,000,000
Authorized Capital
Subscribed Capital
Paid-up Capital * ...
Reserve Fund & Rest. 1,245,785
SILK.
Silk: Commodity Exchange Ine, New York:
1.25 1.26
sent
to the
comment thereon
jabove (ie, the final instalment due 20% Sept...1.28% 1.28% 1.26%1⁄2 1.264 statement that your Company to them) has been extended and the
has
been operating under exdebt itself has been made payable tremely adverse conditions.
by instalments spread over a period
unquoted unquoted
4
1.40
1.41 1.47 1.47 1.59 1.53
you.
Heavy Operating Losses.
to
SUGAR. United Corpn..
"I would now like to refer briefly of months, but upon the express Sugar: New York Sugar & Coffee United States Steel... 51%
to some of the more important items condition that the whole debt Aball Westinghouse E. & M.. 40% 39%-Exchange:
April 29 April 24 in the Accounts which are before be liquidated by September next. It will be observed. from the In this relation, I would like to re- Profit and Loss Account that the cord your 'Board's appreciation of the very sympathetic attitude dis- the year amounted loss for $267,472.14 and that we have trans-played by Messrs. Vickers-Arm- ferred from General Reserve a sum strongs," Ltd.
"From the foregoing remarks, you of $357,052.63 to cover depreciation, the writing down of raw materials, will, I think, see the necessity for Cotton New York Cotton Excement and machinery stores. This the making of the Call in question, change:
transfer, which was recommended and. I would appeal to all Share- by our Auditors, was necessary be-holders who own partly paid shares [In the Company, who have not yet cause your Company was unable to meel these charges from its Working done so, to pay the Call immediately, Account. Such transfer, you will so that our debt to Messrs. Vickers note, is reflected in the Balance Armstrongs, Ltd.which obviously must be paid within the extended Sheet.
Apr. 23 Range Apr. 24 Range
.11.47 11.48 11.16 11.17 ..11.57 11.59
11:32 11.82 ..11.72.11.74 11.50 11.61 Dec. ..11.83 11.84 11.60 11.60 Jan.
...11.89 11.90 11.08 11.63 Mar....11.99 12.00 11.79 11.79 Middling
LONDON EXCHANGES.
May
July
London, Yesterday,
Paris
77 11/82*
September Market: Qulet..
New York
6.15
BRANCHES
floss
Mxisco Gily
Reserve Fund ................
Yep.122,760,000 B
Ententy Alama ANKAR
Glasgow
1,800,000 1,050,000
Kapler
Hamburg
ma
BANKERS!
Head Ofce:-YOKOHAMA
Bombay Bremen
Branches and Agencles at:
Alexandria
Batavia
Berlin
Bombay
Calcutta Canton
Galatia
Colortha Coppe
jinkyat gh
Gener
Harra Modelberg Interisk
Lask LAT Lis
Late Maries Marie Carle
Moniek MONROST Ma
Part
The Bank
Peping
Engiasi 3 Midland Rink, Xáë.
KRANOMES
Montreal Brussels Amsterdam Milan
5.18
COTTON.
21,82
7.65
60
Bangkok Flockhay Calcutta
Epok
Now Lock
Kandy
Penang
Port o
Ioto Bears
Berlin Stockholm Genova
18.05
May
19.40
July
15.76
Oct.
Copenhagen
Chuka
Kuala Lumpur
Hong Kand Bowynk
Oslo Vienne Prague
22.894 19.90% 28
1227%
Helsingfors Madrid
226%
Lisbon
87% 110
Athens
588 Sellers
Bucharest
$10
Belgrade
225
May
Rio
Buenos Aires
884* 881/4*
July
September
Shanghai,
1/6 8/82 1/884
No.1
Hour Rong
Yokohama
1/5% 1/2 3/16
Seallle
Nagasaki Nagoya New York Quake Paris Peiping Dairen (Dalny) Tangoon Fengtien (Mukden) Rio de Janeiro
San Francisco Hamburg Hankow Harbin
Hong
KORE
Honolulu
Hainking Karachi Kobe
London
LO Angeles
Loi
Manila
Moji
Singapore Soerabaya
Sydney Tientsin
Telngtan
Tokyo
Yingkow
Branches of American Express Corn- pany in Principal cities of United States of America and Canada,
All clames of Commercial Banking Transactions undertaken.
Personal investment accounts handled.
The Company offers to intending Travelers the use of its "Travalors
Interest allowed on Current Ac. Chequer and Letters of Credit and, In addition, the world-wide nervion cpunts.
Déposits received for fixed periods of its thoroughly equipped Travel De- at rates to be obtained on application. partment.
MACA KISHINAMI,
Hong Kong, 11th April, 1924.
{hurt) Rangoon Bhanghal
Xuanian (Pikong Kali
HONG KONG BRANCH,
Beory daveriplasm, at Banking and Kerimage host- Travelers Chognac Served.
Trustee and Executorships, under- exten
INTEREST dowed on Outreach Asomanda sad Fixed Deposlis ni Kains that may be smertaland
J. B. ROSS,
THE NEW BRINGH REMEDY,
i...
"Manager.
B W. DUGGAN.
Manager.
1. Queen's Bend Conbrad.
Hong Kong, 2nd May, 1928.
Montevideo
Bombay
Silver Spot.......... 19 5/16 Forward Aust. 19-7/16.
"War, Loan 8%..104 18/16.
* Sellers Official
British Wireless Servics
Spot..11.60
➢"།།
11.30
WHEAT.
"With regard to the item in the period may be liquidated as early Profit and Loss Account "Loss on as possible and our overdraft with Sale of Investments, $3,879.08", this our Bankers reduced. I would also draw such Shareholders' attention refers to a loss in exchange as A result of our sale of Shanghai to the fact that, by not paying the Wheat: Chicago Board of Trade: Municipal Debentures the sale Call which is due to the Company, April 23, April 24-whereof was deemed expedient for they are seriously interfering with
70% 75%
the purpose of reducing our over-the Company's prospects of recovery 70% 75%
and are thus meting out unfair. draft with the Bank. -77% 76/2
"If you will now turn to the Ba-treatment to their fellow-there- Total nales for the day
lance Sheet, you will notice, reflect holders who have already paid. Up 20,000,000 = 30,000,000
ed on both sides therein (one the to the present, your Board bushels
bushels.
"Assets" side in the items for De dealt very, patiently with the altum' preciation and the writing down of tion, but, should the Call not be paid Stocks etc.), the transfer that has immediately, they must, in the in- been made from General Reserve a terests of Shareholders as a whole. Penguasa take the necessary steps to enforce Apr. 28 Apr, 24 just mentioned. *
"On the "Assets" aids of the payment thereof. U.S. Treasury Gold
(Continued, on- Page 1). Prios, per on, 27. $55.00 $85.00 Balance Sheet, you will see that the
AMERICAN GOLD PRICE: (WASHINGTON).
havo
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