1934-08-23 — Page 6

BANKS

HONG KONG AND SHANGHAI.

BANKING CORPORATION.

Rothorised Capital .....................

feed, and Fully Pold-up

Barva Fundu 1-

Herling

Star ...

$5,500,00 $10,000,000

$30,000,000 20,000,000

Roseere Liability of Proprietors $20,000,000

HEAD OFFICE: HONGKONG,

BOARD OF DIRECTORS,

Hon. M. 0, 0, S. Huckle Chairman,

8. 11. Dadwell, Engler,

Deputy Chalaan.

Ham. Mr. W. 13. [L.

AU. Sus plon. Faq Mad Kinnick, Fəqi *

D. O. Kalght, Eag

AMOY

BANGKOK BATAVIA BOMBAY

CALCUTIA

CANTUN

CHEPUD COLOMBO

DAREN POOGTOW- HAIPHONG KAMDURO HANKOW HARUIN HONDKEW

ILOILO

IPOLL

JOHORE

KONE

KOWLOON

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON

Paid-up Capital

Reserve Fund

£3,000,000 £3,000,000

Reserve Liability of

Pro-

prietors

£3,000,000

Ageneles and Branches:

Alor Star

Inila

.

Amritsar

ipu

Hangoon Balcon

Bangkok

Karachi

Semarang

o Matin, Esq.

Balaria

Kind

H.. Morrieus Eag

Bombay

Kabe

Shanghai

T. E. Pearce, Lag

Calcutta

Kirim

Kingwir

Calen

fumper

Rituxan

Самарска

Auching

Cobit

Mafras

Taiping

Colombe

Manlle

Thenal

Delbi

Metan

Tongkak

flafphong

Nx York

(Lihoker)

Priping

Tsingtao

Waskow

(Pekin)

Yokohams

Harbis

Tenang

Zwachomigen

Long Roa

HAMIA

MUMI (Johors)

NEW YORK

TEIFING

Y, M. Grayburn, Esq.

Chief Mwongar.

UDANCHES:--

LOSDOS LAVINS

SALACCA

MUXDEN

PESANU

PASODON.

SATION

Bài CHANGDO

KUALA LUMPUR

SHANGHAI

SINGAPORE

EURABAYA

BUNGE FATANI

TIENTSIN

TOKYO

THINUTAO

YOKOHAMA

Cament Account opened in Lacs! Currency

and fled Deposit repaired for Dogear of shorter period is Local Company and Bar

on set which it be quoted on application.

Bong on 18th April, 174,

HONG KONG SAVINGS BANK.

The Business of the above Dank is conda-

nd by the HONG KONG AND BHANGHAI ikute may be BANKING CORPORATION.

ablalaed on application,

FOR THE HONG KONG AND KHANUKA!

BANKING CORPORATION

Y. M. GRAYDUAN,

Ubial Manager.

Hong Kong, 26th February, 1953.

THE BANK OF EAST ASIA, LTD.

Buthorland Capital

$15,000,000.00

d-up Capital Ba 115, ZUR,100, (9) Bover and Undivided Proßta$2,45€,00,00

IZAD OFFICE:-NONG KONG

, Da Ve Road Central. BOARD OF DIRECTORS 1~

Chairma St. Sharo

Kona Chur, Ex. F. X. Kwok, Eng., Wong Yun Toux. Eng., Chan Ching Shek, Esq., Li Lan Bang, Pay. Wong Chu Eco, Esq. and Kaa Ylog

Kaa Tong Po. Eaq. Chief Manager.

The Fong. Eaq.. Mangor. BRANCHES AND AGENCIES:-

Banja

M-Houene...

Amor

Bombay

Nagnoakt

Calcutta

New York

Canton

Bunts

Haiphong Elaskow Espelula Hobs

Perla

Felplog

Penan

Rangoon

Salgon

Kowloon London

San Franci

¡Cantila

Батаганд biduan glamā Blagspor

Courbeye Υπείου Sydney Takboku

Tisotain. Токто

VLADOUT Jakobama

Ersey description oktag and Exchange bales tracted, Loans granted on approved Becurile.

Current Accounta opened in

Local Currency and Fire Deporīta réveived for ore your or shorter periode la focal and Foreign Currencies

arm which will be quoted to "appilation, Cafe Deposit Dom To let,

KAN TONG PO,

Chief Mausger

Hong Kong, at March, 1984.

THE BANK OF TAIWAN, LTD.

Head Ofice-Talhoku, FormOBE, Incorporated in Japan by Special Imperial Charter,-1899." Central Bank of Formosa, Notes

lasund Average amount 1,45,000,000 Branches and Agencies."

Japan:Kobe, Osaka, Tokyo, Yoko- hama, Keelung, Makong, Nanto, Shoka, Sinchiku, Taichu, Tainan, Taito, Takao, Tamsul, Toen. China: Amor, Canton, Foochow, Han-

kow, Shanghai, Swatow. Others: Bombay, Hong Kong, London. New York, Singapore, Batavia, Samarang, Soerabaya, Dairan.

Foreign" "Erelange and Denarst. Hasking "business" transacted.

Carmens Acccxible opened and Fixed Deposits reseirad for one year or shorter perioda më inico which will be quoted on application.

W. H. E. THOMAS,

Acting Manager. Hong Kong, 20th February, 1934.

THE CHINA MAIL THURSDAY, AUGUST 23, 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 $1725 b.

H.K. Bank (London), £135 a. Chartered Bank £15% n. Mercantile Bank, A. & B £31 n. Mercantile Bank C, 218 D. Bank of East Asia, $84 n. Am: 0. Finance Corp., Sh. $20 China O. Fin. Ord., Sh. $4.1. - China O. Fin. Pref. Sh. $5 m.

Insurances.

Canton Ins., $290 n. Union Ins., $545 b.

China Underwriters, $1.30 m China Fire Ins., $510.

THE BANK OF CANTON, LTD. H.K. Fire Ins., $245 n.

Established 1913.

Head Office: Hong Kong. Authorised Capital ... $11,000,000 | Paid-up Capital

8,655,000 Total Resources.. $2,170,402 Branches: Canton, Tolshan, 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 Deposits received for one year or shorter porloda at rates which will be quoted on application.

Safe Deposit Boxes (various sizes) for hire,

A

LOOK POONG SHAN,

Chis! 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 located on the Mezzanine Floor of Our New building is Specially Con-- 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 Ren-

Inspection Cordially Invited. THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD.

Corner of Ice House Street and Des Voeux Road, Central

THE

AMERICAN EXPRESS COMPANY,

· INC.

Head Office: 65, Broadway, New York

Capital Surplus

Reserves

.$6,000,000.00

2,087,112,69 1,905,528.81

Shipping.

Douglases, $40.65 m. H.K. Steamboats, $7 n. Indo-Chinas (Prof.), $30 mL. Indo-Chinas (Def.), $38 m. Shell (Bearer), 45/3 n. Union Waterboats, $13% m.

Mining.

Antamoks, 60 cts. n. Balatocs, $361⁄2 n. Baguio Gold, 44 cts. n. Benguet consolidated $40 n. Benguet Exploration 19 cts. n. Benguet Goldfield, 20 ets. a. Big Wedge, 12 cts. n. Gold Creek, $2 n. Gold River, 24 cts. n. Ipo Mining $24 n. Itogons $5 n.

Kailan, 21/10% n.

Langkats (Single) Sh. $171⁄2 u.

S'hai Exploration, Sh. $5 m.

S'hai Loans, 30%1⁄2 n.

Raubs, $13.10 sa. Venx; Goldfield, $7 t.

Docks, etc.

H.K; Wharves, $113 D. H.K. Docks, $14/60 n. Providents (old), $1,60 b. Providents (new), 850 cta. n. Hongkews, (old) Sh. $8121⁄2 n. Hongkews, (new) Sh. $810 n. New Engineerings, Sh. $5 n. S'hat Docks, Sh. $117 n.

Cotton Mills.

Ewos Cattons, Sh. $11.10 n. S'hai Cottons (old), Sh. $78% S'hai Cottons (new), Sh. $43%

4.

Zoong Sings, Sh. $111⁄21⁄21⁄2 ¤. . Wing On Textiles, Sh. $55 n.

Lands, Hotels, etc.

H. and S. Hotels, $5.45 b. H.K. Lands, $53 n.

S'hai Lande, Sh. $261⁄2 n. Metropolitan Lands, Sh. $14 n. Humphreys, $10.40 n.

H.K. Renities, $5.20 n. Asia. Realties “A”, Sh. $140 n. Asia Realties "B" Sh.320 n.

.

Chinese Estates, $85 b.

BRANCHES:-

Amsterdam Aniwory Albans

Пово

BimBow

The Hague

Milea Mics Maplas

China Realtles, Sh. $15 Chipa Debenture. Sh. $187 m.

Public Utilities.

n..

Agu Heales Berlin Bombar Bates Ikumola

Harana

Preens

Cairo Calcutta Cannes Colombo

Hamburg Havre Meldelberg Enterlaken Jerusalem Loadou

H.K. Tramways, $21.10 b., 21.15

Liverpool

Lucerne

Lugano

Copenhagen

Luxor

MU

Edinburgh Floreno

Anata Cale

Manila

Munich

VirsDa

Tokohama Ztrick

On and after April 20th, 1934, the rate of Interest on Special Current Deposit will be at 1% p.a. on daily li balance and the rate for balance over $10,000 will be quoted on application (Maximum rate--1%).

Hong Kong Branch

Y. OHNO,

Manager.

8, Des Voeux Road, Central,

་ ་ས

Koot

Paria TelpID Facto Retiendra Ilay *Ghungh

Bulbaptom

Singapor Dentis

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

All classes of Commercial Banking Transactions undertaken.

THE YOKOHAMA SPECIE BANK Personal Investment accounte

LIMITED.

Established 1880

handled,

The Company offers to intending

Travellers the use of its "Travelers

Capital (fully paid-up) Yen.100,000,000 Cheques" and Letters of Credit and, Reserve Fund

Yea.122,750,000 addition, the world-wide services of its thoroughly, equipped Travel · De- partment

Head OfteYOKOHAMA

Branches and Agencies at:

C. H. BENSON,

:* Général. Manager.

Peak Trams (old), $15 n. Peak Trams (new), $7 n. Star Ferries, $102% . Yaumati Ferries, $214 n. 'C. Light (old), $8,30 n.

C. Light (new), $830 b. H.K. Electrica, $71% n. Macao Electrics, $25 n. Sandakan Lights, $8 n. Telephone (old) $24.20 n. Telephone (new) $11.80 m. China Buses Sh. $13.20.n. S'pore Tractions, 5/- n. Singapore Pref., 17/- b.

Industrials.

LOCAL DOLLAR STEADY.

Silver Prices Decline.

The local dollar remains steady, opening on demand this morning at 1/6/

CHINA STILL SELLS SILVER.

Rise In London Gold Price.

clined 1/6, closing prices yesterday ceived August 25, 5.21 a.m.)

being 21 9/16 and 21%, respective |

IMPROVEMENT

·CONTINUES ON

WALL STREET 19.

FIRMER TONE INS

PRICES.

The London on New York cross-

U.S. MERGERS UNDER CONSIDERATION.

Hudson Motor Company On Brink,

CA

SPECIAL TO CHINA MAIL.

(By Telegraph, Copyright, Telegra-

SPECIAL TO CHINA MAIL, By Telegraph, Copyright, Telegra Spot and forward silver have de-phic Mesenger Ordinance, 1894, Re-phic Messages Ordinance, 1894, Re

ceived August 23, 921 a.m.) New York, To-day.

New York, To-day. Yesterday's rise in the London The Hudson Motor Company gold price was reputed to be dus is reputed to be consdering a mer rate, which closed at U.S.$6.085 to the British exchange control ger with the Auburn Motor Com withdrawing support from sterl- puny, the Reo Motor Company and on Tuesday, closed yesterday at

the Pierce Arrow Motor Company.. £-U.5.85,09%, while the New Yorking against the French franc.

It is also declared that the Re- America and speculators bought on Londori rate closed at

on the sliver market and China Public Steel Corporation is repút- |£-U.S.$5.09%, as compared with

ed to be considering a merger sold. The market was steady. £-U.S.85,08% on Tuesday.

with the Truscon Steel Corpora United Pross, per S. E. Levy and

tion. Company.

SINGAPORE RUBBER SHARES:

New York, To-day. With the exception of bonds, which declined 0.02 to 93.15, prices made further advances on the New York market yesterday, Indus trials and rails were up 1.75 and 1.66 to 94.32 and 37.24, respective- ly, while utilities improved 0.56 to 21.04. The commodity Index was

Mesere. Carroll Bros, have receiv 1,300,000 ed the following quotations of Singapore Rubber Shares, dated

öff 39′′to 62:33.

Business improved,

shares being traded..

Latest Quotations.

18. E. Levy And Company's Report August 16 1934. (Prices in Straits

In their market report, Messrs. Currency): S. B Levy and Company; correa-, pondents for Messrs. White, Weld and Company, New York state:-

"Stocks: Buying was of a good character and on- broader scale. Its again rumoured that an im minent rise in the price, of gold)

is to be coupled with the an- nouncement of the permanent Istabilisation of the Dollar at the 50-cent level. Naturally, any such move would be bullish and the action of Government bonds indicates the necessity for some reassurance as

Allenbys. $1.85 b., $2.00.s.

Ayer Moloks, $1.35 b. $1.45 8. Ayer Panas. $1.05 b. $2.05 8. Changkat Serdangs, 35.40

$5.7% 8.

Jimahs, $1.90 b.. $2.00 s. Glenealys, $2.45 b., $2.50 s. Kedahs, $3.15 b.. $380 s. Innas. $2.40 b., $2.50 8. Malaka Pindas. $1.66 b., $1.70 Pajams, $2.40 b., $2.50 8. Sungoi Bagans, $3.50 b; $3,65 ́e. United Malaccas, $1.70 b., $1.75.8.

NEW YORK STOCK EXCHANGE.

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

New York, Yesterday.

Mailing Of Letters By Republic Steel Co.

New York, to-day.

It is reported that the Republic Steel Company will shortly be mall- ing letters to abare-holders giving details of the proposed merger The following quotations from New with the Truscon Steel Company In York have been received by Messrs.which it will be the leading fuc-- 8. E. Levy and the American Oriental) Finance Corporation."

tor, with the outlook now for 0 combination of the Republic-Trus- Close Opening Noon, con Steel Company and the Corri- gan-McKinney Steel Company.-9. 5.0944 5.09 5.09 Cotton Oct. 13.40 13.33 13.26

Last

E. Levy and Co., through Renter.

{X=XXXXXEX

Everything

. BUT YOUR

SAVINGS

b,

N. Y./Lon-

don ......

Dec....... 13.54 13.46

18.40

Silk Dec.... 1.13

1.14

Rubber Sept. 15.58

15.80

Dec.

16.06

16.23

8.c. Wheat

Sept.

1.04%

1.04%

Dcc.

1.06

1.00%

C. Corn

gone

Sept.

75%

76

Dec.

78%

78%

W. Wheat

.Oct.

85%

85%

Amer Smelt

38%

98

38%%

12% 13

13

22% 21%2

24

RENT

16-

16%

41

41%

42

23%

•27

27

FOOD

90%

90%

91%

11

114

11

CLOTHING

29

30% 30%

10%

10%

10%

48%

433

HEAT

234

23% 24%

19

19%

221%

22

22

15% 154 15%%

414

14%

44% 45% 15-144

TAXES

WATER

34%

34% 35

13%

to the future monetary policy, if per cent. of capacity." new financing is to be successful. "The outstanding unfavourable Business done:-1,300,000 shares: factor was that the market was of a STOCKS:-

"Bonds: High-grades are off and highly professional character and Anac Copper continue to be influenced by easier public participation continues to be Auburn Government issues. We look for very small."

Balt & Ohio. a lower market. Second-grades áre Daily averge Petroleum produc-J. 1. Case.. strong and we look for higher prices tion for the past week was 2,519,000 pa Post ....

Con Gas NY

in this section.

barrels, against 2,506,000 barrels, El Bo & Sh. "Wheat:There was consider-the previous week. Electricity Gen Motors able profit-taking at Chicago, which production for the week was 1,674,- Int Tel & Tel was principally due to increasing 000,000 K.W. hours, an increase of McIntyre

Mont Ward hedge pressure from Winnipeg. For 1.2 per cent. over last year. The Nat Distill... the time being, we would confine "Iron Age" reports steel produc- NY Central. purchases to any breaks. Tuesday's tion at 21.0 per cent, compared with Soc-Vacuum sales 26,488,00 · bshls,-***

22.0 per cent. last week. No signs Stan Oil NJ

Un Aircraft. "Corn:-Prices are reflecting the of an upturn in business conditions ¡U.S. Stee! low volume of supplies and are like have appeared. Nevertheless, it West E & M ly to display strength independently is difficult to believe that consump of wheat.

tion of iron and steel has fallen as The following Quotations from Lon- "Cotton-Rains in Oklahoma and sharply as production, and; there-don were received last night between

15.30 pm. and 10.30 p.m. larger New Orleans and hedge offer-fore, it is believed that September ings were depressing factors, but will usher in some measure of im-last recd.), 1/16 down (change). the 12 cents Loan Plan is discour-provement in buying. aging shortselling.

"Rubber:-The strength of the London, market was impressive and buying was of a good character. Business done 442 lots.

33% 33% London Prices,

Silver: Spot 21% (last-close), 21 9/16)

Forward 21 0/16 (last close), 214,

The following messages were re-(last recd.), 1/16 down (change).

Silver Reports-America and specu- ceived from Messrs. White. Weld:

lators bought China sold. Market

While 12-cents cotton affords steady. good.cushion to holders, we think a Gold: 188/2 (last close) 189/7 (last considerable betterment in cotton-recd.), 4d, up (change). goods sales is needed to warrant the London/New York rate: 5.08% (last

(close), 5.09% (last recd.) maintenance of any sharp advances. (change).

up

Night Telegrams The following telegrams were re ceived by Messrs, S. E. Levy and Yesterday's advance was resumed London/Paris rate: 78.21 (last close), Company through Reuter:- at the opening to-day. Trading is 76.09 (last recd.), 12 down (change). "Favourable factors before the more active with gains mostly frac- Liverpool cotton Get: 6.90 (last opening of the market were:-Car- tional. The American Telegraph close) 7.14 (last recd.), 24 up (change)

Liverpool wheat-Oct.: 5/10% (laat) loadings this week are expected to and Telephone made an excep close) 6/9% (last recd), 1% down show but little change. but traffictional rise of more than one point. (change). authorities anticipate a substantial There is no apparent change in the improvement very abortly, continu- business situation, and buyers are lng well into the Autumn. Steel expected to follow up the advanco joperations in the Chicago area with caution,

have Increased. by one point to 30

(Continued on Page 9)

LATEST QUOTATIONS

New York, Yesterday.

London Rubber-Oct-Dec: 7% (last close), 7% (last recd.) unchanged.

London Rabber-Oct-Dec: 7 11/16 (last close), 7% (last recd.) 1/16. up (change).

LONDON'S FORECAST

A forecast from London on the probable trend of the New York market states:-

CHITS

SAVINGS

SAVE SOMETHING

START NOW UNDERWRITERS

SAVINGS BANK

FOR THE FAR EAST, INC.

Azle Life Building, Hong Kong

Tel. 30224.

With traders encouraged by yes Is It Insured? ?

The following quotations have been received by Messrs. 3. E. terday's reaction against dull con- Levy and Co. & the A.O.F.C.

Glange

*

0.24 off 0.22 off, 0.28 of 0.25 off 0.24 off 0.26 off 0.25 off

August 21

Closing

New York Cotton:

October

43.40

December

13.54,

(18.33 -18.32 13.46-18.42

January

19.60

March

13.74

May

13.80

July.

$3.89

18.47 18.48 13.64 18.61 18.70 18.68... 13.76 18.74

Spot

19.55-

New York Rubber!'

September October

December

January March May

Closing

13.15 13:16 13.31 18.82 19.37 19.87 .19.49 18.49 13.55 18.56 13.69 13.63 13.30

15.58 ∙15.68 - 15.70 15.75 15.76 16.78 15.80 15.80 15.91 15.91 14.06. 16.20 16.22 16.22 18.24 16.16 16.81. *16.81 16.38 16.33

August 22. Opening

0.17 up

0.18 up

0.18 up

0.17 up

18:46

́16.60 16.61 ·· 16.63 16.65

.0.19: up

16.68

16.88 16.88 16.90 16.91

0.28 up

Total sales:

442 lota

Chicago Wheat:

September

104%

Der. A. Wings, $1 n.. Lane, Crawfords, $4.15 u.

December

*100*

May

104 106 107% ..108

1081⁄2 104 104 - 0% off-

108% 105% 1054

0% off

Monday's Asles- Chicago: Corn:

108% - ·· 1071⁄2 1071⁄4 26,468,000 bushels

0% off

03% up unchamged

Malabon Sugars, $11 n. Cald: Macg. (ord), 8h. #21'n. Cald: Macg. (Pref.) 8h. #20 nế Canton Ices, $2.70 n.

Cements, $2.55 ́n."

H.K. Ropes, $4.85 n. Stores, etc.

Dairy Farms, $25/60/70 Ba. Watsons; $5.60 n.

Alexandria

Batavia

Berlin

Bombay

Oaks

Nagasakl Nagoya New York

Park!

Peiping

Rangoon

Calcutta Canton Dairen (Dalny) Fengtien (Makden) Rio de Janeiro Hamburg

Kong

Honolulu Hainking Karachi Zobe London Los Angeles

Moff

San Francisco

Seattle

Singapore Soernbaya Sydney

Tientsin Tokyo Tringtan

Literast allowed ``on^uar

Deposits received for fixed. Strata to ba obfaizindin

CAKISHES

Hong Kong, 11th Apr

Manager,

THE SHANGHAI COMMERCIAL &SAVINGS BANK LIMITED. (Incorporated in China)

$6,000,000, $7,000,000.

Capital paid up

Reserves i Capital Savings Dept.-$500,000). Reserve Savings Dept.: $300,000, Holly Hand Offen-Shanghai

A Bank having as its mission the Industrial development of China and the fostering of her commer: cial relations abroad to

Mackintoshe, $21 n. Sinceres, $10 p.

Wm. Fowells, 70 cts. n... Wing On (H.K.) $110 b

Miscellaneous..

H.K. Amusements, $4. Entertainments, $7%, n.. B.C. Enterprise, $1.80 n.. United Theatres, Sh. $2 n. Macao, Greyhounds," $2 n. Construction (old), $1.80 m. Constructions (new), 78 cts.

478% b

September 75% 761⁄44

Demebe

May

7034 - -76% #64 78% 781⁄2 78 78** 78%1⁄2 8181948180%

15,209,000 bushels

81

"Total salis: Winnipeg Wheat:

H.K. Govt: 4% Loan 71% %) pirem. uzay

Ice House Bird HER Govt 8% Loan & 24% Septem

59 prom 4.

Wallace Harparą:-$73) n.

October

December

May

85% 864% 86% 86% 84% *86. 87487

859-18544 .90% 81%90% 89% 89%

0% off

0% off

New York Sugar: cat d'archasinih

September

1,78

• Ch. Govt. 5% 1925 G8Bdaži

December

180

Match

1,86

171 171 -1.66" 1877, 1.78 1.78 -1.76 1.76 184-1.85- 1:88 1.82

0.06-0

-0.05 off 0:04 off

68.000 tans

New York

December February

1.18

110 110 118 1116 11

160-lots

ditions, a, further improvement is anticipated on Wall Street, though profit-taking is possible later in the day.

The wheat market is expected to open irregular, though possibly

higher,

Rubber prices are expected to be

alightly better.

* Insurance All Classes

LOWEST RATES American Asiatic Underwriters Fed: Ino, U.S.A. General Agents P

Head Office,

17, The Bund. An uncertain cotton market is Shanghai. anticipated: A mill strike is not)

likely to occur.

S. E. Levy & Co.

UNDERWRITERS, AND DISTRIBUTORS

B AND COM 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 YORK

ICE HOUSE STREET, HONG KONG-

30101 and 80103

B.L. Ofice Asia Lite Building Tel. 30194