1934-07-13 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Authorized Capital _......

Tmond and Fully Paid-up

Reserve Funds

liant, iws

Biltes

$58.000.000

Beserta Liability of Proprietor,000,000

HEAD OFFICE: HONGKONG.

BOARD OF DIRECTORS.

Hes. Mr. D. 0. 8. Mackle

+

Chairman,

B. H. Dedwall, Eag.

Bepply Chairman.

Han Mr. W. H. BU,

A. M. Compion, Kaq,

W, J. Eswick, Eaq.

C. G. Eight, Eng.

AMOT BANDEGR DATAVIA BOMBAY

CALCUTTA

CANTON

CHEFOO COLONDO

DAIREN

PODCHOW

HAIPHONO

KLAMBUNG

HANKOW

HARBIN DONGKEW ILOILO

ΤΡΩΣΙ

JOHORE

KOBE

KOWLOON

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1853.

HEAD OFFICE: LONDON

Klaus

20.000.000

£ 1,300,000 $10,000,000

Paid-up Capital

Reserve. Fund,

.£3,000,000 ...£3,000,000

Reserve Liability of Pro-

prietors...

.£3,000,000

Agencies and Branches:

Albe Bar

Ibollo

flangoon

Ipak

Balgon

Engkok

-Karachi

Bemardot

Barmha

| Borobay

Xobe

Shanghal

Kusis

Kingsport

Lumpat

Hitman

Свидроге

Kuchlag

Rouba

Madra

Taiping

Colombe

Kanila

Tientsin

Dabi

Medan

Tongkah

Halphoog

New York

Hamburg

Piping

Tringtad

Hankow Harbin

(Poking) PEDARE

Yokohama

Zambous

MANILA

MUAR Jabers)

NUKDEN

NEW YORK

PEIFING

O, Bukin, Esq._'

K. S. Morrison, Zag

T. E. Pearce, Esq.

V. M. Greyburn, Esq.

Chief Maniger.

BRANCHES

LONDON

LYONB MALACCA

PENANG

RASUOON

BAIGON

SAN FRANCISCO

KUALA LUMPUR

SITANOBAT

SINGAPORE... SOURABAYA BUNGEI PATANI

TIENTSIN

TOKYO

TRISOTAO

YOKOHAMA

Accomm

Current Accounts opened is Lore! Currsay and Fixed Depolis recaland for oss your or sheriar periode in Local Company and Sterling terima which will be quoted on application Hong Kong, 18th April, 1984,

HONG KONG SAVINGS BANK.

Calcult Centos

Cabri

Foreign Exchange and 'Osneral Banking bualnesa Lanacted.

Current Ascania opened and Fired Dspoalte received for one year or shorias periods al raten į which will be quoted no apolleatis.

W. H. E. THOMAS,

Acting Manager. Hong Kong, 20th February, 1984.

"

THE BANK OF CANTON, LTD.

་

Established 1912.

$11,000,000 8,655,000

Head Office-Hong Kong. Authorised Capital' Paid-up Capital Total Resources ......... 82,170,492 Branches: Canton, Toirhan, Shanghai, Hankow, Bangkok & San Francisco. London Bankers: Lloyds Bank, Ltd.,

Foreign Exchange and Banking business of every discription trans- {acted,

Current Accounts opened and Fixed

The Business of the abovs Fank is dust-Deposits received for one year or

d by the HONG KONG AND SHANGHAI

BANKING CORPORATION. But may be elained on application.

FOR THE HONO KOSO AND BHANGHAI BANKING CORPORATION

T. M. GRAYBURN,

Chief Manager.

Hong Kong, 26th February, 1984,

THE BANK OF EAST ASIĄ, LTD.

Authorized Capital

Paid-up Capit

Reserva and Undivided Profit

..$10,000.00.04

2,194,000.00

HEAD OFFICE:DNO KONG

12. Do Your Road Central.

BOARD OF DIRECTORS:-

Bir Shou na lum, Chairman,

shorter periods at rates which will be quoted on application,

Safe Deposit Boxes (various sizes)} for hire.

LOOK TOONG SEAN, '

Chief Manager.

SAFETY FIRST!

To Safeguard Your Valuables and Jewelleries.

Deposit them in a Vault

that is really: FIRE - PROOF BURGLAR - PROOF DAMP PROOF!

OUR SAFE DEPOSIT VAULT

Li Koon Chun. Feq. F. E. Kwak, Fan. Wont located on the Mezzanine Floor of Tan Tone. Feq.. Chan Ching Shek, Eq. L Lan

Bear Fag. Wong Chu Sun, Feq. and Ran Ying Our New building a Specially Con-

Po, Pag

Fan Tomo Po. Eng. Elle! Manager. Li Tre Fong. E., Manager

BRANCHES AND AGENCIER:~

Aming

Alamilla

Frattin

Batavia Thinbay

At-16my Pom

Semarang

Shanghai

Calcutie Canton

New York

Singapor

(ka

Sourabaya

Haiphong Hankow

Parla

Swalow

Priping

Honelalu Kobe

Penanx

Rangan

Kowloo Tandon

Asiron

Fan Frenclico

Sydney Tiboks

Tientis

Talya Vancouver Takabama

Enry Sription of. Banking and Exchange:

structed to provide all of these Im- portant Qualities.

You may obtain a Safe Deposit Box in this most up-to-date Vault for your own use at a very moderate Hen- tal

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

THE

Business Transocied. Towne granted an approved AMERICAN EXPRESS COMPANY,

securities.

Current Accounts opened In Incal Carteney and Fixed Depolis netved for one year, or shorter pence in Lees nod Foreign Carreira Fa forms which will be quoted on application.

Bale Deposit Boxes To Tet.

KAR TONG PO.

Hong Kong. 1st March, 1034.

Chipl Manger.

THE BANK OF TAIWAN, LTD.

(TAIWAN GINKO)

HEAD OFFICE:- Taipeh, Formona Incorporated by Special Imperial

Charter, 1899..

Cantra Bank in Forms Bank Noten und Avaraga amount. You. £5,000,000 On and after August 15th, 1983, the Current rate of Interest on Special

Deposit wil be at 2% p.a, on daily balarice and the rate for balance over $10,000 will be quoted on application.

Maximum rate-1%%).

LONDON DINEERS:

Darclays Bank, Ltd., Lloyds Bank, Ltd Midland Bank, Ltd., Weinster lank, Ltd. The Bank has Correependents in all the principat Commercial Centres through the world.

E. NAQUILA

HONG KONG DRANCH..

De Vaux Road Central·

Hong Kong. December 14, 1901.

Марафет

THE YOKOHAMA SPECIE BANK LIMITED.

Established 1880

INC.

Head Office:-85, Broadway,

Capital

Surplus Reserves

New York

$6,000,000,00 2,087,112.69 1,995,528.31

BRANCHES:-

Amsterdam Antwerp

Alle

Thala

Berlia

Bombay

Brezin Bruncle

Cairo

Genos Glaucom Kerak Hamburg HATIT Heidelberg Tutorinkon Jerusalem London Liverpool

Melee City Xfer Хорев. Pirness Pariz Velping Palermo

Calcutta

Cannes-

Colombe Copenhagen Babtu Edinburgh Florence Gietuva

Lutem Тодило 1,"sor Mamilion Muute Carlo Maula

Singapor Tiantain

Tumesina Vienna -Vening

Munich

Nobless Milon

Teknbama Zurich

Rotterdam Rome Shanghai Southampton

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

All classes of Commercial Banking. Transactions undertaken.

Persona 1 investment accounts) handled.

The Company offers to intending Travelers the use of its "Travelers Cheques and Letters of Credit and, In addition, the world-wide services: of its thoroughly equipped Travel De-

Capital (fully paid-up) Yen.100,000,000 partment. Reserve Fund ....Yen.120,750,000,

•

Head Office:-YOKOHAMA

Branches and Agencies at:

Alexandria

Batavia

Berlin

Galerita

Nagasak! Nagoya

Is It

New York

Osaka

Paris Peiping Rangoon

Bombay Canton Dairen (Dalny) Fengtien (Mukden) Rio de Janeiro Hamburg

Hankow

Harbin

Hong

Хопг

Honolulu Hrinking *Karachi

San Francisco

C. H. BENSON,

General Manager,

THE CHINA MAIL, FRIDAY, JULY 13, 1934.

Commerce and Finance.

LOCAL SHARES.

TO-DAY'S QUOTATIONS. The following is the list of local share quotations issued to-day:

Banks.

H.K. Bank 31770 b.

· H.K. Bank (London) $195-u. Chartered Bank £16% n. Mercantile Bank, A. & B. #28 Mercantile Bank C, £15 n. - Bank of East Asia $84 m. Am: O. Finance Corp., Sh. 120 China O. Fin. Ord., Sh. $4 n. China O. Fin. Pref. Sh. $5 n.

Insurances.

Canton Ins., $290 n. Union Ina, $630.b., $532/80 a. China Underwriters, $1.20 b. China Fire Ins., $510 n. 'H.K. Fire Ins., $228 b.

International Asse. $6. D.

Shipping.

Douglas, $411⁄2 B. H.K. Steamboata, $7 n. Indo Chinas (Pref.), $80 n. Indo-Chinas (Def.), $38 ́. Shell (Bearer), $4879 n. Union Waterboats, $12% n.

Mining.

Antamoks, 60 cts, s. Balatoes, $8241⁄2 n.

Baguio Gold, 42 cts. sa.. Benguet Consolidated $32 n. Benguet Exploration 18 cts. b. Benguet Goldfield, 20 ctl. m. Big Wedge, 12-ets. n. Gold Creek, $2 s.

Ipo Mining $2.20 b. Itogons, $5 B.

Kailan, $18/- n.

-

Langkats (Single) Sh. $21 n"

•

S'hai Exploration, Sh. $5 a. S'hai Loans, $6% n. Raubs, $12.60 1, Venx: Goldfield, $? .

Docks, etc.. H.K. Wharves $108 b., $109 sa. H.K. Docks, $12 n. Providents (old) $1.65 b. Providents (new), $50 eta. n. Hongkews, (old) Sh. $3221⁄2 n. *Hongkews, (new) Sh. 3820 n. 'New Engineerings, Sh. $5 n.

Shanghai Docks, Sh. $131 n.. Colton Mills,

Ewo Cottons, Sh. $11-b. S'hai Cottons (old), Sh. $73^n. S'hai Cottons (new), Sh. $422 n. Zoong Singa, Sh. $11% n. Wing On Textiles, Sh. $68 n.

Lands, Hotels, etc.

H. and S. Hotels $5.70 6. H.K. Lands $574 n. S'hai Lands, Sh. $27 n. Metropolitan Lands, Sh. $14 n. Humphreys, $10.30. H.K. Realties, 35% n. Asia Realtles "A", Sh. $140 n. Asin Realties "B" Sh.$20 n Chinese Estates, $86 b.

China Realties, Sh. $15% n. China Debenture, Sh. $137 0.

Public Utilities,

H.K. Tramways. $21.20 E, $21

sa.

Peak Trame (old), $15 n. Peak Trams (new), $7 n. Star Ferries, $102% n. Yaumati Ferries, $21 b. C. Light (old) $8.70 b.

C. Light (new) £8,60 n.

H.K. Electrics $72 s.. $71% sa.

Macao, Electrics, $25 n. Sandakan Lights, $8 n. Telephone (old) $244 b., $25 s.,

$24.85/25 n. Telephone (new), $12 b. China Buses Sh. $13.20 n. S'pore Tractions, 5/- n. Singapore Pref., 16/101⁄2 n.

Industrials. Malabon Sugars, $12 n. Cald: Macg. (ord), Bh. $21 n. Cald: Macg. (Pref.), Sh.$191⁄4n. Canton Ices, $2.72 n. Cements -$2.72 n. H.K. Hopes, $41⁄2 D.

Stores, etc.

Insured? ? Dairy Farms $26 n.

Insurance All Clairer LOWEST RATES

American Asiatic. Underwriters Fed, Inc., U,8,A.

General Agenta

Semarang Shanghai

!

Head Office

Singapore Sperabaya

Sydney Tientain

17, The Bund,

Shanghal.

London

Manila

Tokyo Tsingtan Yingkow

Moj

Los Angeles

intures' allowed on Umrant · Ab-

Deposits received for fixed, razloda,

at rates to be obtained on application.

C. KISHINAMI,

Manager. hong Kong, 11th Apr, 1984

ARE. Office

Ania Life

Tel. :30384;

✅ Bring Yours PRINTING Probious to UER

Watsons $5.40 n." Der. A. Wings, '$1. n. Lane, Crawfords, $4.80 m Mackintoshs, $21 n. Sinceres. $10.69 n.

Wm. Powells, 70' cts. n. Wing On (H.K.) $108 n.

Miscellaneous.

H.K. Amusements, 84 n. Entertainments, $7% n. 8.C. Enterprises, 31 n. United Theatres, Sh. $2 n.. Macho "Greyhounds," $2 n. Construction (old) $1.65 b. Constructions (new) 70' cta. b. H.K. Govt. Loans, $82% prem. b. Wallace Harpers $8 n. Ch. Govt. 6%

$874% n

1925 G3Bds

Gold River 2012 cts. I

Govt Loan 1% prem:

LOCAL DOLLAR

STEADY.

Silver Prices Advance,

The local dollar remains steady, opening on 'demand this morning at 1/5%.

7

STOCK MARKET DULL

Disturbed By Strike

Situation.

BACKING MOVEMENT ÀFOOT

SPECIAL TO 'CHINA, MAIL, (By Telegraph, Copyright," Telegra [phie_|_Meśfágia Ordinance, 1893,^ "Re-

NEW YORK STOCK

*EXCHANGE.

S. E. Levy And Co. And A.O.F.C. Quotations.

New York, Yesterday, The following quotations from Now | York have been received by Messrs. S. E. Levy and the American Oriental Finance Corporation.

Last

Dec.

· BONDS SOAR ON WALL STREET

New High Record For 1933-34.

SILVER MARKET QUIET

New York! To-day. With the exception of bonds, which rose 29 to 95.88, a new high 1939-84 record prices weakened on the New York market yesterday. |Industrials and rafla were down „35 1.18% and 68 to 98.32 and 43.51, respec- tively, while utilities dropped. .38 to 23.89,

ecived July 13, 8.50 am)

Close Opening Noon New York, To-day. N.Y/London 5.04 8.04

5.08% 12.88 The stock market rules dull, In-Catton Oct. 18.00

12.88 dicating a backing and filling move-

.. 18,15 18.03 12.97 Silver Sept. 47.20

46.94 ment in stocks.

Des

48.00 Favourable factors are. the Silk Dec. ... Spot and forward silver prices strength of preferred stocks and Rubber Sept. 18.15 have increased 1/16, closing prices bonds and favourable dividend Des... 15.15 C. Wheat Sept. 93% yesterday being 20 and 20%, re- actions.

Dec........ 95 spectively.

Unfavourable factors are the C, Corn Sept. 62 The London on New York cross-strike situation, the foreign, situa- rate, which closed on Wednesday tion, and the belief that car loadings Wheat Oct. 84%

STOCKS at U.S.$5.03%, closed yesterday on Friday will register the season's

Amer. Smelt. 42% at £U.S.$5.08%, while the New first decline-United Press, per S Anse Copper, 15 York on London rate, which closed E. Levy and Company.

at

-U.S.15.04 on Wednesday, Į losed, yesterday at £-U.S.$5.08.

EXCHANGES.

TO-DAYS QUOTATIONS.

On London

On T.T. and demand 1/5% 4 months' sight 1/54 Credits: 4 months'

sight

On New York-..

1/6%

On demand

37

Credits 60 days'

alght

38%

On Paris-

On démand

550

Credits 4 months'

sight

6922

On India-

On T.T. and demand 97%

|Dn Shanghat—

On demand

110

On Japan:---

On demand

123%

On Manila-

On demand

75%

On Singapore- On demand

622

On Batavia-

On demand

54

On Salgón-

On demand

58

On demand Bovereigns bank · buy-

1264

1/64 20%

nom дот.

On Bangkok-~~

ing rate Bar, Silver per 03. .... Bar Silver in Hong

Kong Copper Cash Copper Cents

Rate of Native Interest 3% pa.

..... 1% prem.

Chinese Sub. Coin 30% dis. Hong Kong Sub. Con par.

M

PECORA HEALS THE BREACH.

Control Commission Rift Ended.

SPECIAL TO CHINA MAN.

In their market report, Blessrs. S. E. Levy and Company, corres pondents for Mesars. White, Weld and Company, New York, state:

47.86*

48.00

1.19

15.18

15.07

15.47

06%

96

Dec. 62%

00% 80%

S. E. Levy And Company's Report

824

42

14% 24% 23

-524

33

02

14%

32/ 12%

31%

12

49-

29

28%

|Auburn

... 25/ Balt & Ohio 23% J. I. Case 59% Con Gas N.Y. 33% Du Pont.... 92% El Bo & Sh, 15 Gen Motors. 3244 Int Tel & Tel 12% McIntyre .... 49% M. Ward... 29. ¡Nat. Dist. 214 N.Y. Central.. 20% Soe-Vacuum 16

•

(By Telegraph, Copyright, Telegra Stan Oil N.J. 44% phic Messages Ordinance, 1891, ceived July 15, 8.50 a.m.)

33%

"Stocks:-We would limit any further buying to miner reces alons. Our opinion of the market remains unchanged and we be- lieve it to be-still a trading af fair. Business done 470,000 shares.

2214 "Bonds: High-grade bonds are 294better, with the volume of busi

ness smaller. Second-grado issues remain unchanged.

16

44%2

44%%

ReUn Aircraft. 18%

19

1876

JU.S. Steel.. 40% West E. & M. 37%

-30%

37%

37%

London Prices.

Washington, To-day.

"Cotton:

-

Liquidation, local

selling and lower cables caused

the market to ease. We continue

The reported rift between the

The following, quotations from Lon- to advise the taking of profits on noted attomey, Mr. Ferdinand don were received last night between any sharp advances, anticipating Pecora, and the Chairman of the the hours of 5.20 pm, and 10.30 p.m. somewhat lower prices later.

Stock Exchange Control Commis- Bion, Mr. Joseph P. Kennedy, has definitely ended,

Mr. Pecora, who is also a mem ber of the Commission, spoke glowingly of Mr. Kennedy's leader- ship.

Last Close London Silver Spot 20-11/16 and Forward 20-13/16.

India bought. China sold. Market| London Gold 137/11. quietly steady,

"Silver:-The quiet but steady.

market

ruled

"Rubber: Commission-House and speculative selling caused stop-loss orders in a working Lenden/New York Rate 5.04 (2 p.m.market. Prices may go lower and

rate).

¡

(1)

7-3/6

"I like him immensely and I think that his knowledge and ex-price).

Liverpool Wheat-Oct. 5/1-7/8 perience will incalculably assist p.m. price). the Commission," he said. United London Rubber-Oct/Dec. Press, per 3. E. Levy and Com-buyers, 7-1/2 sellers (Opening). pany.

Last Record London 'Silver Spot 20-3/4 and For- ward 20-7/8.

U.S. PUBLIC HOLD $711,761,312 IN SILVER MONEY

SPECIAL TO CHINA HAJL (By Telegraph, Copyright, Telegra phie Messages Ordinance, 1891, Re ceived July 18, 8.50 am.)

Washington, To-day.

Liverpool Cotton-Oct. 6.78 (1 p.m. we believe that advantage should

be taken of, sharp recessions,

"Wheat: The market ruled quiet. Profit-taking and hedge sales are increasing on advances. "Woolworth have declared a di- vidend of Sixty Cents falling due on August 10th and payable on September 1."Reuter.

India bought. China sold. Market quietly steady,

London Gold 137/11

London New York Rate 5.03-15/16) }(9 p.m. rate).

B. A. Pierce Co.'s Report In their market report, the American Oriental, Finance Cor

Liverpool Cotton-Oct. 8.76 (1 p.m. poration, correspondents for Messrs. E. A Pierce and Company, New price).

"Stocks: The character of the market remains unchanged es-

Liverpool Wheat-Oct. 5/2-8/8 (1York, stato: p.m. price).

London Rubber-Oct/Dec. -7-3/8 buyers, 7-1/2 sellers (Opening).

London Rubber-Oet./Dec. 7-3/8 sentially. buyers--Noon Market steady.

London Forecast Of American Markets.

The United States Treasury bas announced that the public held

The volume of busi- ness has declined on a moderate U.S.$711,781,312 in silver money on

recession, with the main buying June 30, or 5.62 per capita, which is a new high record,

interest confined to investment We expect Wall Street to open firm caliber. Business done-470,000 Only U.S.$708,562,667 was held on Encouragement is derived from the shares. May 31-United Press, per S. Estrength of commodities. A techní Levy and Company.

cal revival is overdue.

LATEST QUOTATIONS

New York, Yesterday.

to

The wheat market is expected open strong with large buying orders left over from last night's level of prices. Prices may react later oni. profit-taking.

Cotton prices are expected to open

The following quotations have been received by Mesars. S. E. easy and then move parallel to wheat. Levy and Co., & the A.O.F.C.

October

December

January March May

Change

0.16 off 0.20 0.20

July 11. Closing

July. 12,

Opening

New York Cotton:

July

12.80 October

18.00. 'December ... 13.15

12.71 12.72 12.88 12.92 13.03 13.05

January

13.20

-18.10 13.09

March

18.28

18.18 .18.17

May (1935)

13.37

18.24 13.24

Spot

13.00

New York Silver:

September

47.20

46.94 46.94

47.20

47.85

47.40. -47.40 48.00, 48.00

47.47

47.40 47.40

48.08

48.70 Total sales:-18 lots. New York Rubber:

July

unquoted 49.80 49.30

47.08 47.10 47.25 47.25 47.60 47.70 47.83 47.83 38.29 48.29 48.75 48.75 6 lota.

Closing

12.64 12.64 12.78 12.80 12.94 .12.95 12.97 12.97 13.04 13.05 18.11 18.11

12.88 -- 0.16

0.10 off 0.05 up 0.35 0.96 0.21 0.05

0.23 0.23

0.26

21

#

H

14.80

September.... 15.16 October

15.23 December

15.51.

Januray March

15.61

15.84 Total sales-388 lots. Chicago Wheat:

July

92% 94 99% September ... 98% 9426 94 December

95 98 96% Total sales:-10,009,000 bushels Chicago Corn:

July

14.85 14.85 15.18, 15.00 uniquoted. 15.53 15.55 15.69 15.69 15:89·15.90

J 14.64 14.64 0,22 off 14.84 14.84 0.81 14.97 14.97 0.26 35.23 15.23 0.28 15.35 15.35 15.58 15.58 726 lots.

17

0.26

0.26

0% up

60%- 62

57% 57% 2% off 59% '69% 24 $ 60% 60%

7% 17,399,000 bushels

"

83

81% 81%

80% B0%

84%

.89

83

December

85%

84% 84%

-New York Sugar:

*July **.**

1.71.

-1.69 1.71.

September December

Total-s

1.76

1.88

1:75 1.76 +1.88 1.83

1.69 1.70 1.74 1.76 1.81 1.82

2% off 81% 82 2 83% 83% 2

0.01 unchanged 0.01 off

18,000 tons.

8,000 tons.

New York 81

July September. December

1.15 1.18 1.16 1.19 1.18 1.19 1.19

119

0:0124 118 1.18 0.01

Bales: 114 lots. New York Méták

81 lots

July 9

47.00:

nuquoted September

60% 68 December.... 62% 614 592 Total sales:-7,957,000 bushels Winnipeg Wheat:

July

October

93% 93% 94% 94% 1 964 -96% 11/8/

13,665,000 bushels

1.12 1.120,09 of 1.17 1.17%

July 12

6.85***

51.60

A steady tone is expected to prevail in other commodity markets,

SELF-GOVERNMENT FOR BUSINESS. "Immediate Necessity"

י.

In America.

(Continued on Page 7)

.

TRADE SURVEY IN HONG KONG

Names Of Commission Announced

His Excellency the Governor-in- Council has appointed a Commis- sion to enquire into the

causes

and effects of the present trade depression in Hong Kong and make recommendations for the (By Telegraph, Copyright, Telegration and for the improvement of amelioration of the existing pool- phic Messages Ordinance, 189 Re the trade of the Colony. ceived July 13, 8:50 am.)

SPECIAL TO CHINA MAIL

Washington. To-day.

The following gentlemen will

A committee of prominent constitute the Commission:- businessmen yesterday said that Mr. M. J. Breen (Chairman); Mr. Lincoln Filene, of Boston, Hon. Mr. C. G. S. Mackle, Hon. Mr. had submitted a report to the T. N. Chau, Mr. J. D. Lloyd, Mr. Business Advisory Planning G. C. Pelham, Mr. 8. H. Dodwell, Council that the NRA. must Mr. V. M. "Grayburn, Mr. F. A. allow business to govern Itself Joseph, Mr. W. J. Keswick, Mr. LI and that the necessity of prepar Koon Chun, Mr. W. N. T. Tam and ing for such, self-government is Mr. W. H. E. Thomas. "immediate" United Press,

The Secretary to the Commission per S. E. Levy and Company, lis Mr. B. C. K. Hawkins.

S. E. Levy & Co.

UNDERWRITERS AND DISTRIBUTÒRS

.

SECURITIES AND COMMODITIES

·BOUGHT AND SOLD ON COMMISSION

DAILY NEW YORK STOCK AND COMMODITY SERVICE

Members:

NEW YORK COTTON EXCHANGE COMMODITY EXCHANGE, INC." CHICAGO BOARD OF TRADE

CORRESPONDENTS FOR WHITE, WELD & CO, NEW

7 ICE HOUSE STREET, HONG KONG

80101 and 80108:

Tel. Address: Belco