1934-08-31 — Page 6

BANKS

HONG KONG AND SHANGHAI

BANKING CORPORATION.

Authorised Capient

Jawed and Milly Sidup

BITS Fund-

Starling in manninu £54,0*

Silter

***$19,

130.000.000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA,

20,000,000 Incorporated by Royal Charter, 1853.

Rovers Liabilly of Proprietors $20,000,000

HEAD OFFICE, HONORANO.

UGARD OF DIRECTORS. Elon. Mr. C. G., Mackie

Chizman,

B. #wall, Big, Deputy Chairman.

Mon. t. 11. Raft.

A. B. Compton, Eng

W.J. Roswick, Eng.

6. C. Knight, Eng.

AMOT.

BANUKUK

BATAVIA BUN BAY CALCUTTA CANTON OLEFOO COLONBO DAINES FOUCHOW HAIPHONG KAUNCH

. Stinkin, Esq.

K. Marr, Erg.

7. K. Posrce, Eng.

V. M. Grayburn, Ess. Call Hunger.

BRANCHES-

LOSHIN LYONS MALACCA MANILA.

At Johore)

MUKLES NEW YORK PERSO

PENAND

MANGOOS

SAIGOR

SAN FRANCISCO

KUALA LUMPUR

BANKOW

HARBIN

SHANGHAI

HONDREW

KINGAPORE

KABLA

MURABAYA

IPOK

SONGBI TATANI

JOHORE

TIESTSIN

TOBE

KOWLOON

TURYO

TSINO TAO

YOKOHAMA

Current Arrouxite opened in Lol Currency

d Fixed Depose Trad. for rusa

shorter portal in La Company and Sterling

w serca where will quoted on application. Long Kung. 18th April, 1251.

HEAD OFFICE: LONDON

Paid-up Capital

Reserve Fand

.£3,000,000 .£3,000,000

Reservo

Liability of Pro-

prietors

.£3,000,000

Ageneles and Branches:

Rangan

Alor St Ampitasz Bangkok

Balavis Banbay Calcite Canton Cawnpore

Ilaito

Ipoh Karschi

Klang Robe Kunta

Swican Memerang Sterben

Shanghai Magapore SILAWAD Bourabaya Taiping Tiental

11

Cebu Cricute

Halphons ¿Hamburg

Har

Lumpur Kuching Madra Sinaila Madad New York Priping

iting) Телекан

Tongkah

(buker) Trington Yokohama Karbons

Popiga Ezolange and Central Banking busi Curro Asoompie - opmoad and Flind Deposit rresired for on your or wharter periode at raten which will be quoted on application.

W. H. E. THOMAS,

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

THE CHINA MAIL, FRIDAY, AUGUST 31, 1934.

and

Commerce

Finance

LOCAL SHARES.

TO-DAY'S QUOTATIONS.

NEW YORK STOCK EXCHANGE

The following is the list of local S. E. Levy And Co. And

share quotations issued to-day: -

Banks.

H.K. Bank 1745/ 65 30.* H.K. Bank (London), £1351⁄2 n. Chartered Bank £15%. Mercantile Bank, A. & B £31 n. Mercantile Bank C, 519 D. Bank of East Asia, $84 b. Am: 0. Finance Corp., Sh. $20 n. China O. Fin. Ord., Sh. $4 n. China O. Fin. Pref. Sh. $5 m.

Insurances.

Canton Ins.. $290 n. Ucn Ins., $550 n.

China Underwriter, $1.16 b. China Fire Ins., $510 n. H.K. Fire Ins., $245 n.

THE BANK OF CANTON, LTD. International Assce. Sh. 86 n.

Established 1912.

Head Office: Hong Kong.

your of

Authorised Capital

Paid-up Capital

Total Resources

$11,000,000 8,055,000 32,170,492

Branches: Canton, Toishan, Shanghai, Hankow, Bangkok & San Francisco.

HONG KONG SAVINGS BANK. London Bankers: Lloyds Bank, Ltd.,

The Ziuaine of the above flat is condurt ed by a ONG RONG AND SHANGHAZ BANKING CORPORATION.

blen vyplication.

Bul

YO THE HOS KOK AND SHANDHA

BANKING CORPORATION

Y. M. GRAYRWIN,

Chia Stanagar.

Hong Kong. Folruary, 1934,

THE BANK OF EAST ASIA, LTD.

Authorised Cap

Paid-up Capit

S and Undivided Profite

$15,500,000,00 $6,700,

32,484,000.00

HEAD OFFICE-HONG KONG

12. Das Vera Ilond Cesital,

BOARD OF DIRECTORS:-

Sir Show Chow, Chair

La Spo, Faq., P. K. Kwor, Tub T. 1. Chen Chuy Blik, Bang - Wong Chu hen, Eq. Pa. Eng.

q, Wor

Li Lan Kan Ying

Kan Tong To Eq.. Cief Hanager. 1. To Forg, Zay., Slæunger,

BRANCHES AND AGENCIES:-

Mautha M-Bo

*Semarang Bhanghai Suppor

Sexu

Amaj

Betsyba

Boubey

Kayak!

Calcutta

New York

Qints

Cantos

Haiphong Hankow Hoochuju

Paria

Pelping

Garabay

Bralow bylary Inidoku

Penang

Then join

Isle

Kaupaon

Tokyo

Korkea

Saigon

Londen

Ren Franciero

VASCOSTO

Yokoham

Erary

description of lacking and Bondare transarted. Los granted on securities.

Current Arcousta opened in ou

Exhauss appiate

Corticy

and Fixed Deposite incelted for one ther aborter periods in focal and Foreign Currencies

Lainh will be quoted on application.

Bafe Deposit Boxes To

ANTONO 19

Hong Kong, Lut March, 1834.

Chief Manager.

THE BANK OF TAIWAN, LTD.

Head Office:-Taihoku, Formosa, Incorporated in Japan by Special Imporial Charter, 1899. Central Bank of Formosa, Notes

Issued Averago amount Y.46,000,000

Branches and Agencies.

Japan:-Kobe, Osaka, Tokyo, Yoko

Foreign Exchange and Banking business of every discription trans- acted.

or

Current Accounts opened and Fixed

one year Deposits received for shorter periods at rates which will be quoted on application.

Safe Deposit Boxes (various sizes) [for hire.

LOOK POONG SHAR

Chint Manager.

SAFETY FIRST!

To Safeguard Your Valuabler and Jewellerlea. Deposit them in a Vault

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

OUR SAFE DEPOSIT VAULT (located on the Mezzanine Floor of

Our New building is Specially Con-1 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 Ran.: Ital.

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

hama, Keelung. Makong, Nanto, Shoka, Sinchiku, Taichu, Tainan, Amsterdam Taito, Takao, Tamsul, Toen.

.U.S.$6,000,000.00 2,087,112.69 1,995,528.31

l'alermo Botterda

Shipping.

Douglases. $40.65 n.

H.K. Steamboats, $7 n. Indo-Chinas (Pret.), $30 n. Indo-Chinas (Def.), $33 n. Shell (Bearer), 48/9 n. Unlon Waterboats, $1334 n.

Mining.

Antamoks, 61 ets. b. Balatoes, $361⁄2 n. Baguio Gold, 44 cts. n. Benguet consolidated $40 a. Benguet Exploration 19 cts. П.

Benguet Coldfield, 20 cts. n. Big Wedge. 12 cts. 8.

Gold Creek, $2 n.

Gold River, 24 cts. n. Ipo Mining $20. Itogons $5 n.

Kailan, 25/9 n.

Langkats (Single) Sh. $17 n.

S'hai Exploration, Sh. $5. S'hai Loans, 30% ¤. Raubs, $13.10 n. Venz; Goldfield, $5 n.

Docks, etc.

H.K. Wharves, $112 n. H.K. Docks, 814% n. Providents (old), $1.572 n. Providents (new), $50 cts. n. Hongkews, (old) Sh. $5124 n. Hongkews, (new) Sh. $810 n. New Engineeringa, Sh. $4. S'hai Docks, Sh. $118 n.

Cotton Mills. Ewo Cottons, Sh. $10.75 b. S'hai Cottons (old), Sh. $75. n. S'hai Cotton (new), Sh. $44 n. Zoong Sings, Sh. $111⁄2 n. Wing On Textiles, Sh. $56 n.

Lande, Hotels, etc.

H. and S. Hotels, $5.55 n H.K. Lands, $50% b. S'hai Lands, Sh. $27 n. Metropolitan Lands; Sh. $14 n. Humphreys, $10 n..

H.K. Realties, 5.05 b., 510 8. Asia Realties “A”, Sh. $140 n. Asia Realties "B" Sh.$20 n. Chinese Estates. $85 b. China Realtles, Sh. $1531⁄2 n. China Debenture, Sh. $137 n.

Public Utilities.

H.K. Tramways, $20.40 b. Peak Trams (sid), $15 n. Peak Troms (new), $7 n. Star Ferries, $102% n.

BRANCHES:-

Lakwary

Geson Glanow

China:--Amoy, Canton, Feochow, Han-

Aiben

The Hague

Harash

kow, Shanghai, Swatow.

Bealiz

Bamburg

MER Nice Naples Pirou Perle

Berila

Others: Bombay, Hong Kong, London,

Bombey

New York, Singapore, Batavia, Samarang, Soerabaya, Dairen

Brand

TAVTO Heidelberg Interlaken

Pelpin

Braunla

Jerusalema

Cuira

London

Bhanghy

Cal

Liverpool

Boolaro

Lusterba

Coloraba Copenhagis Publis Edinburgh Floedso Dereta

Lugsað

Thantsla

Extor

sa.

Taormina

Starallise

Monte Carlo

Vanlis

Vienna Vanilos Yokoham Zurich

C. Lights (now), $8.30 b.

On and after April 20th, 1934, the rate of Interest

en Special Current Deposit will be at 1% p.a. on daily! balance and the rate for balance over $10,000 will be quoted on application (Maximum rate-1).

Y. OHNO,

Manager.

Hong Kong Branch

3, Des Voeux Road, Central.

Munich

Montreux

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

All classes of Commercial Banking

THE YOKOHAMA SPECIE BANK Transections undertaken.

LIMITED.

Established 1890

Porsonal investment accounts handled,

The Company offers to intending Capital (fully paid-up) Yen 100,000,000 Travellers the use of site" "Travelers Eeserve Fund ..Yen.122,750,000 Cheques" at Letters of Credit and, In addition, the world-wide services of its thoroughly equipped Travel De [partment

Head Offee: YOKOHAMA

Branches and Agencies at:

Alexandria

Batavia

Berlin

Borabny

Caleutta

Canton

Dairen (Dalny)

Hong

Nagasaki

Nagoya

New York Osaks

•Pariz

noon

Francisco SAN. Seattle

(Mukden) Rio Je Jensiro

Koar Honolulu Hainking Karachi Kobe

London

Los Angeles

Manila

Shanghai

Singapore Soerabaya

Tingkow

Hojf

Interset allowed on Carent" "As- Departs received for Axed periods at rates to be obtained on suplication.

G. KISHINAMITE

Manager. Hong Kong, 11th April, 1974-4

C: H. BENSON,

General Mana;

THE SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED.

(Incorporated in Chiña)- {" Capital paid up.....$5,000,000,

Basurvey.$2,000,000, Capital Savings Dept. 8500,000. Reserve? Bavings Dept. 9600,000.

Bead Office-Shanghai

A Bank having as its mission the industrial development!'of) Chink and the fostering of her commer cial relations Ebrosd.

Hong Kong'oles 27 In House St. Jam Phone-81481-2131-4)

Yaumati Ferries, $21 b.

C. Lights (old), $8.65 b.. $8.70

H.K. Electrics, $72 b. 73 8. Macao Electrics, $25 m. Sandakan Lights, $8 a. Telephone (old), $241⁄4 na. Telephone (new), $11% 1. China Buses Sh. $18.20 n. S'pore Tractions, 5/- n. Singapore Prof., 17/3 b.

Industrials.

Malabon Sugars, $11`k. ' Cald: Macg. (ord), Sh. $21 n. Cald: Macg. (Pref.), Sh. $20 n. Canton Ices, $2,70 nữ ̈ ́ Coments, $2.65 5., 2.55 60. H.K. Ropes, 84:35. n.

Stores. etc.

Dairy Farms, $26.60 4. Watsons, $5.60. n. Der. A. Wings, 81 m. Lane, Crawfords, $4.16 n. Mackintoshe, $21 n. Sinceres, $10 n.

Wun Powells: 70 eta, i.. Wing On (H.K.) $110 n.

Miscellaneous. H.K. Amusements, $4 n. Entertainments, $71⁄2>nz 3.C Enterprises, $1.80 n. United Theatres, Sh. $11⁄4 n., Macao "Greyhounds,”! 32 n. Construction (old), $1.80 m. Constructions (new), 78 dcs. n. Ch. Govt. 5% 19

1925 GBds 88% n

KK. Goyt 4% Loan 74% prem.

A.O.F.C. Quotations

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

Last

TRADERS CAUTIOUS ON WALL STREET

Unfavourable Factors Predominate

GERMAN NOTE EFFECT

FRACTION LOSSES

ON WALL STREET

Immediate Outlook Obscure

New York, To-day.

NEW ADVERTISEMENTS

BANK HOLIDAY.

TE Beg to Notify Our Custom

We Bet te YOND CL, tort

Easy losses, mostly minor frac-September, 1984, All Departmenta tions, occurred on the New York will be CLOSED with the follow

ing exceptions:— Remarket, yesterday.

With inflation talk set at rest. Exchange Restaurant, Bread.

SPECIAL TO CHINA MAIL. (By_Telegraph, Copyright, Telegra- phic Merrages Ordinance, 1894, ceived August 31, 7.04 aan,)

Adverse

New York, To-day. at least for the time being, and Dept., Corner House and Kowloon news is outbalancing the labour situation most disturb-Branch will remain open as usual the favourable factora

Peak Store will remain open Walling, the immediate outlook is оп Street, causing traders to be cau-somewhat obscure, and a moder- until 10 a.m. tions,

ate set back would not "be aur- Favourable factors yesterday prising

LANE, CRAWFORD, LTD.

CONCERT SATURDAY, SEPT. 1st, 9.15 p.m.

were the ability of the market to S. E. Levy And Company's Report take selling, that the silver ship in their market report. Messrs.K.C.C. ment from Russia possibly indi-[S. E. Levy and Company, corres- Russian buying,pondents for Messrs. White. Weld Close Opening Noon cates increased

that engineering construction has and Company, New York state:

"Stocks: There has been, no de- reached a new peak this year, and that automobile sales are holding finite news ealculated to influence the market in one or another and Unfavourable factors were the traders are still retaining their at

Виві- 103% labour dispute, the weakness of titude of watchful waiting. 104% rails, and the German situation.-nesa done: 650,000 shares. 80%

NY/London

5.03 503

Cotton Dec.

Mar.

1335

1329

1346

Silk Dec.

1134

Rubber Dec.

1006

Mar....

·1015

602 1322 1382 1111/ 3614 1856

up.

C. Wheat Dec.

May ..... 106%

103%

C. Corn Dec, .. 80%

May

8314

83%

W. Wheat May 862

$6

STOCKB;-

Amer. Smelt 374 Aabura

37%

37%

244

0926

Balt & Ohio... 16%

10

Con Gas NY

Du Pont

.. 28

30%

28

274

80%

El Bo & Sh. 15% Gen Motors

1070

30

20%

Int. Tel & Tei.. 10%

10%

10

McIntyre ...... 48%

487%

Mont Ward

24

23%

Nat Distill

21

2014

NY Central

22

22

21%

Soc-Vacuum

14%

14

144

Stan. O NJ

442

44

4436

Un Aircraft ... 14%

1414

U.S. Steel..... 34% 34% 34 West E & M : 33%

33%

***

London Prices.

aro

United Press, per S. E. Levy and "Bonds: High-grades are un-

changed. Government, bonde Company.

easier. Second-grades are lower, while speculative issues are weak.

"Wheat: Rain in the wheat soc- tions is tempering Canadian hedg. ing pressure for the time being. There has been much buying of corn in anticipation of sharply! lower private crop estimates. We would advise caution against bulge, buying. pending a break in the

BIG BANKS

SILENT ON

MONEY "WAR"

(Continued from rage 1)

20,699,000

Co-

The "Big Five" banks refuse to peak of the Canadian hedging sea-

One bank, son. discuss the situation.

Wednesday's sales: interviewed by the United Press, said "the situation is too tricky" bushels.

"Cotton: Spot houses and Another source sald "substantial United States funds are leaving operative interests are selling, with sterling for gold or Paris in an- buyers hesitant, fearing the sent The following quotations from Lon-ticipation of a further devaluation mental effect of the threatened don were received last night between of the dollar. 5,30 p.m. and 10.30 p.m.

Silver: Sput 21 9/16 (last clase).;

OLD PARITY APPROACH

textile strike.

"Rubber: The market is steady The advance in gold is consider and a better manufacturing inter- 21 11/16 (last recd.); G-% up (change) ed to be a deliberate answer

to est in developing. Business done: Silver Forward 21 9/16 (last close),

dollar and in 1953 lots.

21 11/16 (last recd.). 6. up (change) devaluation of the

Mesars. S. E. Levy & Co. received Silver Report:-America. Indin and accordance with the British de- speculators bought. China sold. Mar-sire to approach the old parity. the following telegrams through ket steady.

Gold: 139/4 (last close) 140/3 Uncertainty regarding the course! of sterling is expected until a (last recd.), 104. up (change).

London/New York Rate: 5.04 (last new ratio is achieved.

close), 5.03 (last recd.), 0.81% down Traders diacredit the report (change).

London/Paris Rate:

that the British Equalization Fund 76.28 (last close), 75.21 (Inst recd.), 0.07 down is strained and [(change).

Liverpool Cotton-Oct.; 6.92 close), 6.98 (last recd.), 0.01 (change).

suggest that the benefits attained by the earlier

Reuter:-

(Continued on Page 10.)

LATEST QUOTATIONS

New York, Yesterday. The following quotations have (last drop in the pound has exhausted been received by Messrs. S. E. Lovy

up another shot in the arm prescrib-and Co., and the A.O.F.C. Liverpool Wheat-Oct.: 5/94 (lasted to help exports.-United Press,

New York Cotton: close), 6/8% (last read.). 0- down per S. E. Levy and Company. | (change).

London Rubber-Oct.-Dec.: 75 (last) close) 7 11/10 (last recd.), 0-1/10 up. (change).

PAYING SILVER WITH GOLD

New York, To-day.-Rellable re- London Rubber-Oct.-Dec.: 7% (last) close), 7 13/18 (last reed.), 0-1/18 up ports indicate that the liquidation (change).

London's Forecast,

October .. December

January

March

of stocks of gold in the United States has led brokers to surmise that the Treasury may be prepar-

May

July

Spot

Aug. 28 Aug. 29

Closing Closing 13.25 13.06 13.35 13.21 13.40 13.25

13.45 18.29

13.58 13.38

13.59 13,43 18.20

A forecast from Landon on the pro-ing to pay silver wKH gold and New York Rubber: bable trend of the New York Market, perhaps depress the world gold

ness is unlikely and the tendency of $1,300,000 IN GOLD FOR PARIS the stock market is consequently ex- pected to be dull.

The Wheat market has been depress Trust has shipped US$1,300,000 New York, Later-The Guaranty ed by Canadian hedge pressure.

Rubber prices are expected to open in gold to Paris,United Press, a little better.

The Cotton market is aimless and per S. E. Levy.and Company.

is subject to strike developments, which look very grave.

+

LOCAL DOLLAR ADVANCES

· September

13.40

15.64 15.71 15.84 .: 15.77

16.06 16.10 16.16 -16,23 16.45 13.50 18.70 16.71

102% 108 103% 104 105% 105

September

states:---

price.-United Press, per S. E. While Wall Street continues to be Levy and Company. overshadowed by the threathened

labour dispute any expansion of busi-

October December January March

May Chicago Wheat:

September- December

May. Chicago Corn:

79

79%

December.

80% 80%

May

89%

834

Winnipeg Wheat:

Silver Prices Improve

: October

·81%

81%

December

8242

822

May....

86%

86%

New York Sugar:

September

1.79

December

1.87

1.86 **1.94

March

1,92

New York Silk:

-September

- 1.09

December

February

1.08% 1.13 1.12 1.15 1.14

New York Metals:

Copper, October 6.54 Tín. October .. 51.75

Latest Quotations

The following quotations have

The local dollar. has advanced

been received through Messrs. S. E. opening on demand this morning at Levy and Company and the Ameri-1/6

can tion:

Oriental Finance

1

+

Corpora

New York. Yesterday.

Last To-day's close, close

I

Spot and forward silver, have advanced, closing prices yester- day being 21 11/16 each.

The London on New York cross-

N.Y./London: Cross-Rate 5.08% 5.01% rate, which closed at £-U.S:$5.04 où 13.35 18.21 Wednesday, closed yesterday at 18.06. 10.10-U.S.56.02, while the New York on .103 104 London-rate, closed at £US.86.01.

80% 80% 40% 40% as compared with -U.S.35.08% on

Wednesday.

N.Y. Cotton Dec. |N.Y. Rubber-Dec. Chic. Wheat-Dec. Chic. Corn-Dec. Silver Offelal

(Dow Jonen Avg)

To-day's Aug, 29 Close Changej 03.60 92.76 98-0 37.01 36.12 89 off

30 Industrials 120 Roila 120 Utilities

40 Bonda

20.71 20.55.18 off 98.06 92.92 .18 off

SOUTH AFRICA COMPLETE WAR DEBT PAYMENT

(Continued from Pape 1).

GENEROUS-DECISION Index 62.51 62.56 05 ur When the suspension of inter-

11 Commodity

18 Leading Stocks..

Amer. Can Amer Smelting & Ref. Amer. Tel, and Tel. Auburn

J.I. Case

Du Pont

Elec. Bond and Share General Motors P Int. Tel, and „Tel.: McIntyre Porcupin Montgomery Ward Nat Distillers NY. Central Socony-Vacanm

Union Pacificí

R.K. Gove 84% Loan 29 United Aircrafs

prem b

Wallace Harpers.. $7.44 n.

U.S. Steel

Westinghouse Eland Ma

Business done)=-850,000: shares.

Governmental debts was agreed Closeupon: under the Hoover Mora

98 torium and arrangements after- 37% wards made at the Lausanne 111 Conference, South Africa 'gener-

804

4

11

28% ously decided not to avail heresIf of the offer to suspend this war fdebt payment, and has continued 20% it regularly up to the present 10% time,ening deta 4814

His Majesty's Government in the Union have now expressed a desire to repay the whole of the debt outstanding namely, |£7,500,000 in August 81 and Hischiajesty & Government in the

1.96

6.29 50.95

"ON TOP OF THE WORLD.' That's How You'll Feel After

PINKETTES.

Pinkettes are the ideal little laxa tive liver regulators, non-habit-` -An forming, and non-purging. occasional dose gently assists nature to perform the natural functiona,

of waste matter from the food tract and ensures that daily elimination

which is so essential to good health. If you are billous, off-colour, auffer

from liverishness, lack of appetite, sick-headache, constipation, or piles, take a dose or two of Pinkettes, they will soon put you right. Obtainable at all chemists.

Is It Insured? ?

Insurance — All Classes

LOWEST RATES ::.. American Asiatic Underwriters.

Fed. Inch USA, *-*

General Agents

Head Office

17, The Band,

Shinghal.

י.ד...

B.E. Ofice Asia Life

Buliding

Tel 30234

COMMISSION RULES FOR UNLISTED SECURITIES

New York, To-day. The Curb Exchange has issued, a statement approving the stock Exchange Con- trol Commission rules for trading in unlisted securities, including the grouping of listed and unlisted stocks separately-United Press,- per S. E. Levy and Company.

COMMODITY EXCHANGE'S MARKET TO RESUME

New York, To-day The Journal of Commerce states that the Com modity Exchange's silver futures market is likely to be resumed. shortly if the plans of traders materialise.

Representations are being made to Washington that the market in New York is necessary to the wel fare of trade and also for the 'con- venience, of the Government, 25 private transactions are being con": ducted considerably below the: offi- cial level. United Press, per S. E. Levy and Company.

S. E. Levy & Co.

UNDERWRITERS AND Distributors

·SECURITIES AND COMMODITIES BOUGHT AND BOLD ON COMMISSION

DAILY NEW YORK STOCK AND COMMODITY SERVICE

Members:

NEW YORK COTTON EXCHANGE COMMODITY EXCHANGE, ING. CHICAGO BOARD OF TRADE

CORRESPONDENTS FOR, WHITE, WELD & CO. NEW YORK.

7 ICE HOUSE STREET HONG KONG

United Kingdom have gratefully Tel: 80101 and 201034 accepted the offer British

Tel:Address? Belca