1934-05-16 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Katherined Capital

Larned and Poly Philop

Reserva Fonda 20

Darling

$28,000,000

en 2010.00%

€ 4,800,000

$19,000,000

Bere ability of Proprietors $20,000,00

UKAD OFFICE, HONGKONG.

THE CHARTERED - BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1853.

£3,000,000 £3,000,000

HEAD OFFICE: LONDON.

Paid-up Capital

Reserve Fund

Reserve Liability of Pro-

prietors

£3,000,000

Agencies and Branchen:

lina Dir. 19,6,8, Mackie

Alor Star

Mollo

Rangoon

Amritsar

Ipoh

BOARD OF DIRECTORS.

3. P. Warten, Eng. Deputy Chairs.

Hon. Mr. W. LE. Bell, A. 1, Comptan. Eng.

W. J. Kenick Keş, G, G. Knight, Engi

>

ANOT

NANOKRE BATAVIA BOMBAY CALCUTTA

CANTON CHEFOO COLOMBO

DAYMEN

POOCHOW

KAIPHONG

HAMBURG

HAKKOW

HARDIK

BONURWY

TLOILO

JOHOR

KORE

KOWLOON

1. Miskin,

K. H, Morrison, Er

T. B. Pearce 170.

V. M. Omykura, Kog.

LONDON

LYONE

Bangkok Batavia Fombay ¡Calcutta

Слупрого

Canton

Cebu

Colombo

Hamburg

Karachi Klang Kobe Kuala

> Cou

Madras

Saigon Semarang Seremban

Sngapore

Sitiawan Sourabaya Talping Tientsin

THE CHINA MAIL.

Commerce and

Finance.

NEW YORK STOCK EXCHANGE

A.O.F.C. Quotations.

New York. Yesterday,

Dow Jones Averages.

Aver. Aver

130 Industriale

20 Rails

20 Utilities

Last Today's Changes

.91.81 92.84 1.03 up

..41.40 42.07 .67 up

COTTON, SILVER AND WHEAT Latest Quotations. NEW YORK COMMODITY MARKETS

The

the

New York, May 16.'

Fin- American, Oriental

on

1935-36 BUDGET HOPES

President Roosevelt Seeks $1,932,000,000.

EXPENDITURE SLOWS UP

SPECIAL TO CHINÁ NAIL. (By_Telegraph, Copyright, Telegua- phic Message Ordinance, 1894, "Re-) ceived May 18, 3.50 am.).

Washington, To-day. President Roosevelt yesterday sent a message to Congress asking: for a supplementary appropria- |Han of U.S.$1,952,000,000 to com- plete the recovery programme in the 1934-1935 fiscal year.

22.30 22.73 43 Pance Corporation have received He asked for authority to use

following quotations

the unexpended and unearmarked the New York cotton and wheat balances of such agencies as rubber, silk and silver exchanges

40 Bands

•

.93.23 95.52 29 up

Commodity

Index.

.52.36 52.92 .57 up Business Done:-890,000 shares. (Bhuker)

Cale! Manager.

Manila

BRANCHES 2-m

Delhi

Medan

Tongkah

Haiphong

New York

Peiping Tsingtao

Hankow

Penang

(Peking) Yokohama

Zamboangs

Exchange

MALACCA

MANILA

MUAR (Jobur®} MURDEN

NEW YORK PRIPINO

TENANG

RANGOUX

RAMON

SAX PRANCIRCO

KUALA LUMTUR

BBANUAL

SINGAMAN

POTIRABAYA

ANGE) PATANI TIENTSIN

TOKTO

1SINGTAO YOKOHAMA

Dermal Accesele spend to Lori Carrey and Pirul Deposit and for end your or sharter periods in Local Company and Birting

worm which will be quoted on application. Hong Kong, 13th April, 1934,

HONG KONG SAVINGS BANK.

The Basis of the shore Bak) is avadnor,

ad by the ITONG KONG AND SHANGHAI WANKING CORPORATION.

shized on application

may be

FOR THY HONGKONG AND SHANDBAI BANKING CORPORATION.

T. M. OSATHORN,

Hong Kong, 26th February, 1934

SAFETY FIRST!

To Safeguard Your Valuable and Jewelleries.

Deposit them in a Vault

that la really: FIRE PROOF

· BURGLAR - PROOF DAMP PROOF!

OUR SAFE DEPOSIT VAULT

located on the Mezzanine Floor

Harbin Hong Kon

Foreign

the

ilon for purely relief purposes if Mesura E. A. Fierce & Co Re-on the Commodity Exchanges Inc. Reconstruction Finance Corpora- port: There was not enough vo- New York:-

necessary. lume of business to permit a fair,

Closing Commodity

SILVER.

and General appraisal of the rally, but trading May 16.

somewhat irn sentiment seems

Continued dry Fix-proved. Wheat:

Banking business transacted.

Current Accounts opened and

Prica

Silver: Commodity Exchange Inc.

ed Deposits received for one year or weather forecast in the North- of New York: shorter periods at rates which will be West and Canada encouraged lo- quoted on application."

May 14 Range May 15 Range

44.39 44.57 cal traders to reinstate long lines July ....44.70 44.70 W. H. E. THOMAS,

44.70 44.70 Cotton: Sept. ...44.85 44.80 lon a very thin market. Acting Manager.

44.77 44.77 ....45.05 45.05 other Dec. Steadier in sympathy with Hong Kong, 20th February, 1934.

45.07 45.07 markets. Offerings were light. Mar....45.59 45.59 There were fair rains throughout Total sales for the day:-

with the exception of 144 contracts of Central Texas. Silver: The mar- 25,000 ozs. cach ket was very dull and featureless.: Only 45 contract were negotiat- [ed.

THE BANK OF CANTON, LTD. the belt,

Established 1912.

Head Osice:Hong Kong.

Amikorfood Copēša) (1.%. Currimzy) .-.011,200,200

Fall-Up Captial means

1,000,000

Business Done: 890,000 shares.

Last To-day' Price Pric

Changhel Bankow, Bangkok, Air Reduction... sad Bea Prasme,

LONDON BANKERE )—

The Lloyd's Bank. Ligelbed.

CORRESPONDENTE

in alt pekacipal citim of the World,

Parolyn Brokenge and backing bustom of

every daveription itemciel.

LOOK POONG BHAN.

THE BANK OF EAST ASIA, LTD. Bendix Aviation

Borden Co Canadian Pacific ........ #10,000,000.00 J. T. Canc

5,598,000.00 Caterpillar Co

Chase National Bank $2,484,000,00

Chrysler Motors.. Consolidated Gas of N.

Authorised Capital Paid-up Capital .... Reserve and Undivided

Proste

HEAD OFFICE:-HONG KONG 12, Des Voeux Road Central.

BOARD OF DIRECTORS:-

Sir Shouson Chow, Chairman..

of Li Koon Chun. Esq. P. E. Kwok, E

Our New building is Specially Cen-Wong Yun Tong, Esq. Chan Ching structed to provide all of these Im-Shek, Esq. Li Lan Sang, Esq. Won

Chu Son, Esq. and Kan Ying Po, Eng portant Qualities.

Safe Deposit may obtain a You

Valt Box in this most up-to-date for your own na at a very modar-: atr Rental.

$489

Market:-Dull.

45 contracts of

25.000 ozs. each

·

RUBBER.

The President charged U.S.$40,- 000,000 to naval construction, and U.S.$228,000,000 to the restoration of the Federal pay-out in the veterans' benefits.

The President told the press that he hoped that economic conditions would preclude future enormous ex- penditure; and emphasised that he aimed to balance the Budget for the 1935-1936 fiscal year.

His message stated:- "Expenditures since January

WEDNESDAY, MAY 16, 1934.

"GOVERNMENT NOTICES.

Missing Marine Ace

Lieutenant David L. Glood, U. S. Marine Corps fier, who was re- ported mining. by Navy Depart- ment after his plane crashed into target being towed at sea off He was one Virginia Beach, Va of the best fiers in Government service and is shown with Schiff Trophy he received from President Roosevelt last January.

EXPORT CREDITS GUARANTEES.

Britain To Reduce Russian Rate.

PUBLIC WORKS DEPARTMENT.

TO. S. 168-It is hereby not-

Nosed that Staled Tenders is

Triplicate, which should be clear ly marked "Tender for Now Kow- loon Quarry Lot No. 4" will be re- ceived at the Colonial Secretary's Office until Noon of Monday, the 21st day of May, 1934, for the oc cupation for a period commencing from the date of notification of ac ceptance of tender and ending 31st December, 1935, of the piece of parcel of ground at Kung Tong Tsai, Cha Kwo Ling, as shown coloured red, on a plan signed by the Director of Public Works and dated 28th April, 1934, and sub- ject to the conditions which cha be ascertained at the office of the Director of Public Works.

fee $300 per Upset annual

annum.

Each tender must be xccom- panied by a receipt to the effect that the tenderer has deposited in the Colonial Treasury

a sum of $100 as a pledge of the bana fides of his offer, which sum shall be forfeited to the Crown in the event of the tenderer, whose tender is |accepted, refusing to carry out the terms and conditions of his ten- der.

On the acceptance of a tender the deposits of unsuccessful ten- derers will be returned to them.

Form of tender and further obtained from particulars can be It is learned that the Export the office of the Director of Public

'London, To-day.

a slower rate Rubber: Commodity Exchange have proceeded at

than estimated. Nevertheless, it Inc. of New York:

May 14 Range May 16 Range must be borne in mind that even 13.08 13.08 though the deficit on June 30, 1934, May....12.80 12.80 9514

13.23 18.25 will be below my estimate, appro- ..12.95 12.95

13.54 13.54 priations are still in force and the Sept....13.20 13.25 Dec.....13.55 13.57 13.86 13.86 amounts actually to be expended

In the following fecal year will Credits Guarantees Department Works Standard No. 1 "B" Contract.

and has decided to reduce the rate of therefore be increased

The Government does not bind Total sales for the day:-

above my estimate for that fiscal interest on export credit guar-itself to accept the highest or any year."-United Press, per S.C.antees for trade with Russia by tender.

1,389 contracts-866 contracts

SILK.

Silk: Commodity Exchange Inc, of New York:

May 14 Range May 15, Range) May.1.231⁄2 1.23%

Sugar: New York Sugar & Coffee) Exchange:

Market:-Quiet.

May 14 May 15

1.48 1.48 1.50 1.50

1.57 1.56

397

Allied Chemical & Dye .139%% American Can American Radiator

120

July

04 93

American

12% .384 Smelung

12%

3814

Wals Daport Boum (varlove alone) si v pračky total of fom . .

American Te! & Tel

112%

Chief Manager.

American Tobaced "B" American Waterworks Anaconda Copper Min-

Auburn

113

€84

174 18

1334

14

34

344

144

14%

22%

24

15

15%

481⁄4

43

1.23 1.26

20%

28%

28%

26% Sept. 3.26% 1.27

1.25 1.26

384

39.

Dec.1.28 1.28

1.26 1.26%

Y.

324

Curtiss Wright

33%

024 34

SUGAR.

Du Pont de Nemoura

Enstman Kodak

90%

Electric Auto-lile Co Electric Bond & Shere Electric Power & Light 5% General Electric

20%

gam 8414 23% 21

1952

144

May

5%

July

10%

20

General Foods

General

Gene Motors Gillette Safety

12

September

322

31%

32%

10

10%

19

1914

314

12 12%

Seattle

91

•

91%

Batavia Bombay

Melbourne

Remarang

Loew's ne

Nagasaki

Shanghai

Calcutta

New York

Singapore

Montgomery

30% 30.5%

Ward

32%

Canton

Osaka

Sonrabaya

National Biscuit

May 37% 38% July

24%

+

Haiphong Hankow Peiping Penang

National City Bank

28%↑

Paris

Bwatow Byndey

National Dairy Products 10%

Talhoku

Otis Elevator

141/4

284 10% 15

Oct Dec.

.11.39 11.39

.11.52 11.52

Pacific Gas & Electric. 17%

17% Jan.

Rangoon Saigon

Packard Motoru

4

.11.67 11.57 Mar....11.68 11.68

11.46 11.47 11.59 11.60 11.66 11.66 11.76 11.76

Pennsylvania Rly

28%

SU

Middling

Radio Corpn.

74

734

Sears Rorbuck

424

42

Spot..11.40

11.45

Socony-Vacuum Corpn

144

15%

Exchange busiziena transacted.. Loans Standard Gus granted on approved securities.

Current Accounts opened in Local Standard Oil Co of N.J. 4214

19

19%

WHEAT.

B

9%

41%*

Texas Carpn Trans-America

23

May 14 May 15

0

38%

May July

86%

84%

88 864

.117% 10%

September

20%

t

85%

B6%

Total sales for the day:-

United Corpn........ 4/4 5 United States Sicel ... 41 Westinghouse E & M

324

424 82%

40,000,000

bushels

40,000,000 busbela

BID. XD.:-*:

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

THE BANK OF TAIWAN, LTD. (TAIWAN GINKO.).

HEAD OFFICE:-Taipeh, Formous Incorporated by Special Imperial Charter, 1890.

Central Bac) in Formosa

Kan Tone Po, Esq., Chief Manager, Li Tae Fong, Esq. Manager,

BRANCHES AND AGENCIES:-

Amoy

Ronolala

Kobe Kowloon

London

Manila

Tientsin

Tokyo

Sun F'cisco Vancouver

Yokohama

Gold

Dust

Internal Harvester

Internal Tel & Tel

Liggelt & Myers "D"

Every description of Banking and Standard Brands

Bank-Molng kasund Avoriga smoral ....Ton. Currency and Fixed Deposita received

On and after August 15th, 1933, the for one year or shorter periods in Union Carbide & Carbon 37% rate of Interest on Special Current Local and Foreign Currencies on Union Pacific Deposit will be at 2% pa. on dally terms which will be quoted on appli United Air & Transport 19% balance and the rate for balance overeation. $10,000 will be quoted on application-

(Maximum rate-1%%).

LONDON BAKKEAN

Barclays act. Liku Lloyds Fast, 147. Widia Bask, Lid, Warkolator Bank, La.

The Boch has Correspondente in all the pelampać Jemmerdal Contran throughout the weld. X. KAGUMI.

KONG KONG BRANCH

1. Du Fett Hood Destra).

King Brig. Droomber 9, 1981.

Wang

Safe Deposit Boxes To Lat.

KAN TONG PO.

Chief Manager. Hong Kong, 1st March, 1984.

THE

AMERICAN EXPRESS COMPANY, INC.

Head Office:-65, Broadway, New York,

Capital

THE YOKOHAMA SPECIE BANK Surplus

LIMITED.

Established 1880

Capital (fully rald-up) Yen.100,000,000

'Reserve Fund

Reserves

.U.S.$8,000,000.00 .U.B.$1,887,089.17 ....U.S.$1,718,979,67

BRANCHES:--

Besca

HATIS Flamborg Havie Heidelberg

London

Amsterdam ADIWIC? Aškena Amman

Yen.122,750,000

Head Offre→→YOKOHAMA

Branches and Agencies at:

Alexandria

Batavia

Berlin

Borbay

Calcutta

Canton

Nagmaakt Nagoya New York Onaka Paris Peiping

Besle Marlia Bombay

Braselt Cale Calostia Dan Colombo Copenhage Dubin Kinburgh Margare Clears

M

Hong Honolulu

In

Las Marseling Nowe Carle

Mxico City

Wales

Mre

17 Parla.

Polping

BISAN

Thorarins Tlakis

Vi

THE OVERSEAS NATIONAL BANK LTD.

National Bank Building, BA, Des Voeux Road, Central.

Authorized Capital ..... $5,000,000.00 Paid-up Capital

1,000,000.00

New York, London and Paris Agents:

BANKERS TRUST COMPANY. Wa offer facilities for the transac tion of general banking business. Foreig Exchange transacted. Steckt and bunde bought and sold. granted on approved securities.

LEE FANG, General Manager.

Loans

COTTON. Cotton* New York Cotton Ex change:

May 14 Range May 15 Range

11.23 11.23 .11.14 11.14 .11.24 11.24 11.31 11.32

Wheat: Chicago Board of Trade:

AMERICAN GOLD PRICE:

(WASHINGTON).

May 14 May 15

U.S. Treasury Gold

Price, par os. ...$85.00 $85.00

LONDON EXCHANGES.

Paris

New York

Gold Bar Co.

over

one-third.

Hitherto, the rate was about} 10 per cent. per annum for a

NEW AMERICAN maximum period of 18 months.

EXPENDITURE

President Roosevelt Seeks $1,322,000,000.

FOR RECOVERY PURPOSES

Washington, To-day.

-Reuter,

COPPER STOCKS DECLINE

SPECIAL TO CHINA MAIL...

R. M. HENDERSON, Director of Public Works. 4th May, 1934,

LABOUR PEACE DEPUTATION

(Continued from Page 11.

It stated that the 'National Joint (By Telegraph, Copyright, Telegra-Council' would warmly welcome au phie Messages Ordinance, 1894, Re-indication that Soviet Russia was ceived May 18, 3.50 a.m.)

willing to become a member of the New York, To-day, League and considered that the Trade figures of world stocks of foundations of peace would there

A request for an additional refined copper declined 155,000,000 by be strengthened. It appealed U.S.$1,322,000,000 to. complete lbs. in April to a total of 1,350,- to the British Government to ex

May 1.-United Leud'an invitation of this kind to the expenditures in connection 1000,000 lbs. on

Russia.

EXCHANGES.

with his emergency recovery pro-Presa, per S. C. Gold Bar Co, gramme for the coming year was made by President Roosevelt in! in message to Congress, yester- day.

TO-DAY'S QUOTATIONEL the following On London—

T. T.

The total Includes items:

£20,000,000 for road construction. £8,000,000 to start new naval con- struction with the aim of bringing the United States Navy up

to the limits allowed by the London Naval Treaty,

£9,600,000 for the great Tennessee Valley development scheme,

£7,000,000 for the construction of public buildings,

1/4% 1/49% On demand Four months' sight 1/43⁄4 Credits 4 months'

sight

1/534

On New York---

On demand

352

Credits 60 daya'

sight

37%

535

Credits 4 months'

sight On India-

575

The President asks Congress to grant him broad powers in dis-On Paris- pensing emergency funda, owing On demand to the difficulty in determining the precise needs at present-Reuter. ||

SILVER DULL IN NEW YORK

Trading Almost At Standstill.

STOCK PRICES RALLY

On T.T. and demand 92% On Shanghai---

On demand

On Japan:--

On demand

New York, To-day. The silver market was dull and featureless in New York yester-On Bangkok

day, only 45 contracts being ne- gotiated.

bonds were up 0.48 and 0.20 to 22.7% Copper Cash

110

116%

|On Mánile—

On demand

70%

On Singapore---

On demand

59%

On Extavia-w

On demand

162

On Saigon---

On demand

634

London, Yesterday.

77 11/32 5.11

Montreal Brussels Geneva Amsterdam Milan

5.104

21.84

15.72

-

and

7.53

138%

Stock prices showed an improve-

1/5% ment, industriale and rails advanc Bar Silver per oz... 19 5/16 ing 1.03 and 0.67 to 92.84 and 42.07, Bar Silver in Hong respectively, while utilities

On demand- Bovereigns bank buy-

ing rate"

Kong

nom.

60. 1/32

nom.

Vienna

28:

Copenhagen Helsingfors Lisbon

22.89

226%

110

shares being traded.—Reuter.

510

42*

Buenos Aires

Montevideo

86* 38

Bombay...

1/6 1716

Yokohama

New York

Portl

Stockholai

· 1/2 19.40

Oslo

(Mantinė

Belgrade

19.90% 225

The local dollar remains steady,

Delké

Hang Long

Kuna per Konatan (Fühing) Õlala

Berlin

12.90

Prague

12244

Madrid

Athens

Bhanghal

27 5/16. 580 Sellers -1/3

Hong Kong

1/4%

THE MERCANTILE BANK OF

INDIA, LTD.

HEAD OFFICHE

Authorissé Capital

£3,000,000

1,800,000

1,050,000

Dairen (Dalny) Rangoon Fengtien (Mukden) Rio de Janeiro

San Francisco Seattle:

Hamburg

Semarang

Shangha

Singapore

Босга баул Hydney Tientsin

Tringtap

Branches of American Express Coen- United pany in Principal cities of States of America and Canada.

1, Gesandrock Mese, Lund, LOS

Subscribed Capital .......... Paid-up Capital Reserva Fond & Rest. 1,285,785 The Band at Rashad A Mičani Dark, Léle KRANOREST Bangkal Jpok

All classes of Commercial Banking S Transactions undertaken.

Personal, investment accounta handled.. e

The Company offers to intending Travelers the use of its "Travolos Cheques" and Letters of Credit and,

BONG. LONG SHAMON. Bray dandylan at- Harding sund-Beslange bind-

Trusts and Executorships, under-

Interest allowed on current Ae. In addition, the world-wide servioss

of He thoroughly equipped Travel De-staken.

counts

Deposits received for fixed parfoda parizoent st rates to be obtained on 'application.

K KISHINARI,

Manager.

Hankow

Kong

Hainking Karachi London

Manila Moji

Tokyo

Angelos

Yingkow

Hong Kong, 11th April, 1934.

E. W. DUGGAN,

J. B.. ROSE,

Manager.

Hong Kong, 2nd May, 1983,

Bucharest. Rio

Silver Spot and.

Forward 19 5/16 Warloan 3% 1024

Bellera Official

Britian Wibeless Service.

and 98,52, respectively. The comCopper Centa modity improved 0.57 to 52.92.

* 1% prem. Rate of Native Interest 3% % Da

Business was dull, only 890,000 Chinese Sub, Coin... 314% dis

· LOCAL DOLLAR

STEADY.

Hong Kong Bub. Coin per.

SOLDIER'S WIFE FINED.

ARMS AGREEMENT UKGEL The resolution also urged tho Government to make a supremo af- fort to bring the Disarmament Conference to a successful conclu- sion.

In speeches supporting the reso- lution, members of the delegation said that they had no faith in the and policy of defensive alliances, regarded the League of Nations, imperfect as it might be, as the only practical Instrument for maintain- ing peace and stability."

The Prime Minister said that in the last two years the British Gov ernment had used all their influence to obtain a Disarmament convention. They had put forward a practical plan, and had even inserted actual figures and levels. Even after the despatch of a special mission to the capitais chiefly concerned no agree- ment had yet been reached, and nothing could be done without an [agreement.

PREMIER DISAPPOINTED The present position of the Dia- armament Conference was a great The Bri- disappointment to him. tish Government had taken the risk of setting an example in Disarma- ment which had, unhappily, not been followed, and had held back pro grammes of expenditure in the hope, of reaching an International conven- tion. Meanwhile, they would con tinue to use every effort in the cause of international peace.

Sir John Simon said that he wel comed the putting forward of de- finite suggestions despite the dif culties involved.

The Government took every opportunity of close con- tact and co-operation with the United States, The London Naval - Conference and the World Economia. Conference were instances in point not less than the Disarmament Con-

Silver Prices Stationary Dog Without Muzzle On ference:

The Peak

・・・ US, SPECIAL POSITION

But it must be borne in mind, be said, that the United States Governi opening on demand to-day at 1/47%.

Silver prices are also steady. Appearing on a summons, Mrement stood in a very special position closing prices yesterday being Reeve, wife of Corporal A, Reeve, of both politically and constitutionally. apot, 19 5/16 and forwards. 19 Mount Austin Barracks, was fined. As regards Soviet Russia, it had $5 by Mr. Q. A. A. MacFadyen at been the practice that Governments. 5/16.- ··

The London on New York cross the Central Police Court this morn-wishing to join the League should rate, which closed on Monday at ing,, for allowing her dog to be at themselves, make an application. U.8.25.11, closed yesterday at large without a muzzle. She was The Soviet Government had not so -U.S.85.11, while the New York also cautioned on another summons applied, but they know that if they on London rate closed yesterday at for owning a dog withot a leanie, did so they would be welcomed by -

US$5.11%, as compared with Mr. Reeve said, that the license the British Government as he hime

Ibad been overlooked this year?, 'helf had stated in the House of Com £11.8.$5.10% on Monday.

mona.--British Wireless Service,

..

..