1934-10-24 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Ratherland Cap} $50,000,000

wed and Fully Fald-up 0,009,003

Era Funda

Morling

£500,000

1...........$10.300.000 Ramees, Linbilty of Proprietors$20,000,00 READ OFFICE: HONGKONG,

BOARD OF DIRECIONA,

Hon. Mr. . . 8. Maski

Chairmea

B. H, Dodwell, lag.

5. 0. Finight, Haq,

AMDY BANGKOK HATAVIA

BOMBAY

CALGUT'IA LANTUN

COLONDO

Deputy Chairman.

V. M. firnybaru. Eeg.

Chlef Manager.

DBANGLES,

.JAINDON

LYOND

SEALACCA MANILA

JUKDEN

NEW YORK

PEIPINO

PENANG

RANUGON

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1859.

HEAD OFFICE: LONDON

Paid-up Capital

Reserve Fund

Reserva Liability of Pro.

prietors

£3,000,000 .£3,000,000

Agencies and Branchen:

Curreal Accounts opered and Fixed Deposits received for ona your a shocker porlede av ru which will be quoted on applisalföp,

W. H. E. THOMAS,

THE CHINA MAIL, WEDNESDAY, OCTOBER 24, 1934.

Commerce and Finance.

NEW YORK STOCK

EXCHANGE

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

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

Last

LOCAL SHARES.

TO-DAY'S QUOTATIONS.

The following is the list of local share quotations issued to-day:

Banks.

H.K. Bank $1600 n.

H.K. Bank (London), $138% n. Chartered Bank £15% n. Mercantile Bank, A. & B. £80% Mercantile Bank C. $18. Bank of East Asia, $98 z. Am: 0. Finance Corp., Sh. $20 China O. Fin. Ord, Sh. $4.n. China O. Fin. Pref. Sh. $5 m.

Insurances.

£3,000,000

Alor Star

ilaito

Гиперос

Aruditeur

Ipab

Balroo

Bangkok

Karachi

Alr. W. El. Beil.

G. Miskia, Kog.

Klang

A. ¡. Compton. Eng.

B. S. Horton, Reg.

Bombay

Kobe

W.), Xaswich, Eng

T. B. Pearce, La

Caltsita

Kunie

Captoo

Lumpur

Cawnporn

Kuchis

Batherang Br Panghal Singapore

Bourabaya

Catu

Kadr

Colombe

Wanita

-Tiaotels

D+Thi

Madan

Tooskah

2

New York

(huker)

Hamburg

Palpine

Hankow

(Paking)

l'okchains

Harbis

Tenang

Zainboanga

NY/London Cotton Dee,

Mar

Home Koog

Forsign Exchange and Jenarai Banking buzilver 'Dec.

XUAN (Johor)

Iraqnaciać.

Mar.

Silk Dec,

116

Rubber Dec.

1407

Close Opening 11 am. 4.9514 4.97% 4.97%

12.27

12.27 1225 1235 12.36 12.37 5270

-62.70 :52.70 .53.90 54,00 5371

115 14.20

Mar.

1446

14.60

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

C. Wheat Dec.

974

97%

Canton Ins., $285 s.

May ......

B74

97%

Union Ins., 8500 n.

C. Com Des... 75%

*76

China Underwriter, $1.15 b.

May

77%

77

China Fire Ina., $510 n.

W. Wheat May 81%

81%

H.K. Fire Ins., $2371⁄2 n.

Amer Smelt

30%

354

Auburn...

27%

27%

Head Office: Hong Kong,

Con Gas NY... 26%

26%%

20

Paid-up Capital

Authorised Capital

Total Resources

$11,000,000 El Bo and Sh

8,055,000 32,170,492

Du Pont...

93%

93

Gen Motors

9% 30

94

9%

294

0%

Loew's Inc. Mcintyre Mont Ward.

30%

30%

30%

45

45

2814 284

27

20%

21

DAIDEN

HOOCHOW

HAIPRORO

HAMBURG

HANKOW

HTBIN

HONGKEW

20110

BOH

JOHDAY

KODE

KOWLOON

KAIQUN

SAN FRANCIRCO

KUALA LUMPUR

SHANGHAI

SINGAPORE ·

YOURABAYA

SUNDEI PATANI

TIENTSIN

TUKTO

TRINUTAO

УОКСЦАМА

Current Accounts opened in Local Curssary Bad Fland Deposita received for the zon or shorter periods in Local Company and Berit

terms which will be qualed an application. Rooy Hour, 18k 'April, 1934,

HONG KONG SAVINGS BANK.

THE BANK OF CANTON, LTD. STOCKS:

Established 1912.

Branches: Canton, Tolahan, Shanghai, Int Tel and Tel 9% 9%

Hankow, Bangkok & San Francisco. London Bankers: Lloyds Bank, Ltd,

Foreign Exchange And Banking Nat Distill

business of every discription trans Central acted.

Current Accounts opened and Fixed Stan Oil NJ

U.S. Steel Deposits received for one year or FOR THE HONG KONG AND HANDHAL Bhorter periods at rates which will be

The Business of the above flank tu conduct.". by the HONG KONG AND SHANGHAI BANKING CORPORATION. Holm may stained an application.

BANKING CORPURATION.

V. M. GRAYBURN,

Chial Manager.

Hong Kong, Xib February, 1984,

ப்

THE BANK OF EAST ASIA, LTD.

Authorised Capital

$13,000,000,00 ***** 5,296,000.IMI Paid-up Capiza Brand Undivided Probis $7,434,000.80

HEAD OFFICE: HONG KONG

12, Do Your Boad Geni

BOARD OF DIRECTORS;-

Sir Shou-son Chow, Chairma

14 Food Chus, Esq., P. K. Kwok, Esq., Wong

Fun Tong, Pag. Chan Ching Shak, Zeq., Lá Lan Bans, this, Roog Chu Een, Eag, and Kan Ying

De

4.

Esu Tong Ps, Esq., Clést Manager.

Li Te Fong, Esq., Menaget.

BRANCHES AND AGENCIES ----

Manf Kalloura

Baattia

Amey Balkris Bombay

Visalia Canton Italphons

Na York

Qucha.

Semarang Bhangar Bingapore Sourabaya

·Swalom

Tarla

Hankow

Palping

Honolul

Pruszk

Ilango

Gydors Talioku Ticin

Xen.com

Balgond

Tokyo

London

Yokokume Er deemption of Deaking and Exchange businemacked. Lonas prestad on, approvad

Curnal Accounts opened to Low Cyrnas and Fixed Deporita repaired for one jar a shorter periode in Local and Forge Cumendiée on farma which will be quoted to application.

Safe Deposit 35ze To Int

HAN TONG PO,

Chief Manage,

Hong Kong, Jet March, 1934.

THE BANK OF TAIWAN, LTD.

Head Ofleet-Talhoku, Formosa, Incorporated in Japan by Special Imperial Charter, 1890.

Central Bank of Formosa, Notes

issued Average amount Y.45,000,000

Branches and Agencies,

quoted on application.

Safe Deposit Boxes (various sizes) for hire.

LOOK POONG SHAN,

Chial Manag97.

SAFETY FIRST!

To Safeguard Your Valuables and Jewelleries. Deposit them 'in a Vault

that is really: FIRE PROOF BURGLAR - PROOF DAMP PROOF 1

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 Ital

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

THE

211 214

214 40% 41% 4142 334 33 33% London Prices The following quotations from Lon don were received last night between 6.30 p.m. and 10.30 p.m.

Silver: Spot 28-13/16 (last close), 23-11/16 (last recd.), down (change) Silver: Forward 23-16/16 (last close), 23-19/16 (last recd.), % down (change)! Silver Report: India bought. Specu lators bought and sold. China gold. Market quietly steady.

Gold: 141/6 (last close), 140/3 (last recd.), 1/3d. down (change).

London/N.Y. Selling Rate:, 4.95% (last close), 4.97-11/16 (last recd.), 2-5/16 up (change).

London/Paris Selling Rate: 74.71 (last close), 75.84 (last recd.), .63 up (change).

Liverpool Cotton-Mar.: 6.01 (last) close), 8.62 (last treed.), 01 (change).

up

Liverpool Wheat-Dec.: 5/0% (lant) clase), 5/04 (inst recd.) down (change).

London Rubber Jan.-Mar: (buyers) 7-1/10 (last close), 7-1/16. (last recd.), unchanged

London Rubber-Jan-Mar.: (sellers) 7% (last close) 7-3/16 (last recd.),! 1/16 up (change)..

London Rubber-Jan.-Mar. at noon (buyers) 7-3/16 (last recd.)

London's Forecast

A forecast from London on the pro bable trend of the New York market,

AMERICAN EXPRESS COMPANY, states:-

INC.

Head Office:~65, Broadway, Now York

Capital Surplus Reserves

Japan:-Kobe, Osaka, Tokyo, Yoko-Ameri

hama, Keelung, Makong, Nanto, Shoka, Shinchiku, Taichu, Tainan, an Taito, Takao, Temesi, Toen, Karenko.

.U.S.$8,000,000.00 2,087,112.69 1,995,528.31

KATERS Hamburg HATTO Helderberg fotarlokuu Jerusalem

.Pirmat

BRANCHES:-

Сапов

a

Antwerp

Glasgow

Nice

Kaple

Bale

Kugi, Hello, Giran.

China: Amoy, Canton, Foochow, Han-

kow, Shanghat, Swatow.

Berlla. Bombay Blew Brussels Cairo

London

Liverpool

Cans

Lucerne

Colombe Copenhagen Dublin Edinburgh Florence Önera

Никано

Lazor

Harvilles

Monte Carlo

Mucin

Others: Bombay, Hong Kong, London, leita.

New York, Singapore, Batavin, Samarang, Soerabaya, Dairan.

On and after April 20th, 1984, the on Special Current rate of Interest Deposit will be at 1% pa. on daily balence 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

Mogtex

Farla Palpia: Paiering Il berdata Re Shangha Southampton Bingsges Tieniiku

Terbina Viena Vanica Jovchema Eurish

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

All classes of Commercial Banking Fransactions undertaken.

Personal. Javeatment accounts

THE YOKOHAMA SPECIE BANK Landled.

LIMITED.

Established 1880

Further narrow movements and doll-1. ness are expected on Wall Street.

Cotton prices may open higher-with the market quiet, awaiting the Presi dent's speech to Bankers.

to

The Wheat market is due to rule higher.

Rubber prices are expected to open a little higher

CAUTIOUS PURCHASES BY ROCKEFELLER FUND

New York, To-day--The annual report of the Rockefeller Fund has revealed that purchases during 1933 were confined to Treasury Notes and small amounts of railroad bonds-United Press; por S. E Levy and Company.

THE MERCANTILE BANK OF INDIA, LTD.

*HEAD OFFIODI

15, Orachurch Btreet, London, 2.6.8. Authorised Capital...£8,000,000- Subscribed Capital

1,800,000 1,050,000

Paid-up Capital .... Reserve Fund & Rest 1,247,432

BAKKERE

The Bank of England & Midland Bank, LAB.

BRANCHES:

Ipob

Kandy

Bangkok

Babay

Karachi

Calombo

Kota Bharu

Delhi

Len Koal Konk

Koaim Edpis

Bunia Iumpur

The Company offers to intending Calcutte Travellers the use of its "Travelers Cheques" and Letters of Credit and Capital (fully paid-up) Ten.100,000,000 to addition, the world-wide services Yen 124,250,000 bf its thoroughly equipped Travel De Reserve Fund

partment.

Head Offre YOKOHAMA

Branches and Agencies at:

Alexandria

Batavia

Nagasaki

·Nagoya

Berlin...

New York

Bombay

Osaka

Calcutta

Canton

Paris Pelping Rangoon Dairen (Dalny) Fangtien (Mukden) Rio de Janeiro

San Francisco Seattle Semarang

Hamburg

Honelalu

Hainking Karachi

Kobe

Hankow Burbin

Hong Kong.

Shanghai Singapore Soerakaya

Sydney

Tientaln Tokyo

Tsingtao

Yingkow

London

Los Angeles

•Mandis-

Mojt

allowed on: Uzrent;

Deposits received for fred per

:water to:ba'.obtained

.C. H. BENSON..

General Manager,

THE WING ON BANK, LTD. HONG KONG

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of every description tranaret- led.99

Current Accounts opened and Fixed Deposits received for one year or shor ter period at rates which will be quot led on application.

New York

Port Louis

(Mauzima) Rangoon Shanghai Bingapore

Inanian (Fabang) Birnin

EGNO KONO BRANCH

Brory description of Esaking and Eachenje boel- cena tracsacted..

Travellers Chagua maad.

Trustee and Executorships under faken.

INTEREST wad on Currans Loounts and Fixed Deppes at Halas that, may be ascertainad on appllation.

J. B. B085,

Mangst, Queen's Road Centraă, Hong Kong, 12th June, 1984.

THE SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED.

(Incorporated in China);/ Capital paid up....$5,000,000. Reserves.$7,000,000, Capital Savings Dept. 6500,000. Reserve Savings Dept. $600,000,

Safe Deposit Boxes (various sizes) Head Office-Shanghal

for hire pit,

PHILIP GOOKCHIN. Chief Manager" GOCKCHINderkome

Assistant Manager, de

LA SHU FONG Assistant Manager.

A Bank having as its mission the Industrial development of China?! and the fostering of her commer cial relations abroad.

Hong Kong officeTM) Ice House' i

International Assce. Sh. $6 n.

Shipping.

Doublases, $41 n.

H.K. Steamboats, $7 sa.

Indo-Chinas (Pref.), $80 n. Indo-Chinas (Def.), $98 m. Shell (Bearer), 46/-→ · Union Waterboats. $13 m.

Mining.

►

NEW SCHEME FOR

GUIDANCE OF WORLD COTTON INDUSTRY

American Practice Criticised

INDIAN REVISION

LETHARGY RULES WALL STREET

President Roosevelt's “Speech Awaited -

GASOLINE - WAR FEARS

New York, To-day. Brokers expected lethargic Berlin, To-day trading on Wall Street yester- The International Cotton Com-day pending President Roose- mittee, at the conclusion of its ses-velt's speech last night..

NARROW TREND

INDICATED ON

WALL STREET

Traders Anxious To Re-Enter Market

ROOSEVELT'S TALK AWAITED

New York, To-day- The Stock market was steady yesterday with minor fractional sion, yesterday, stated that the sub- Favourable factors were that gains predominating. A narrow Jects discussed included cartels business failures totalled. 214 during and indecisive market seems to and price agreements,, and it was the week, against 267 the previous be indicated. The belief prevail- decided that the coples of the lat-week and 282 fallures during the ed, however, that many traders [ter, already in force, and the pro- corresponding period of last year, were arious to re-enter the mar n. posals under consideration by and that automobile production was ket, but were holding off awaiting and President several countries, should be sub- 29,069 cars, as against 25,401 cars encouraging news Imitted to a special legal sub-com-the previous week and 80,110 cars Roosevelt's speech at the American

Bankers' Convention last night.. nmittee for the purpose of analysing the previous year.

and suggesting a mutual composite An unfavourable factor was that S. E. Levy And Company's Report In their market report, Messrs. scheme for the guidance of the officials fear that the gasoline price-

war in New Jersey may spread to 8. E. Levy and Company, corres- world's cotton Industry.

Latery Quotations

the

It resolved that the serious com-the New England district. United pondents for Messrs, White, Weld plaints received concerning "false Press, per S. E: Levy, and Company, and Company, New York state:

"Stocks: The action of packed" bales of American cotton

market during the past few days should be brought to the notice of the United States, strongly urging The following quotations have indicates formidable resistance at the elimination of the practice, been received through Messra. S. E alightly above the present level, with sufficient stimulus obviously which is causing endless difficulties Lavy and Company and the Ameri lacking to absorb these offerings. to the Cotton-Spinners' Committee.can Oriental Finance Corpors--

Further, it holds the opinion that tion: the present system of marking bales;

of Indian cotton is inadequate andj N. Y./London- unsatisfactory, as it deprives the Cross--Rate spinner of an opportunity of tracing N. Y. Cotton- the name of the ginner from whoh Dec. Ithe cotton emanates.

It also decided that India should be urged to restore the law govern ning the marking of baling hoops in Chic Corn-

Antamoks, 60, cta. n. Balatoes, Ex. Div. $57 n. Baguio Gold, Ex Div. 46 cta. Benguet Consolidated 414

cés, n...

Benguet Exploration 22 cts. n. Benguet Goldfield, 20 cts. n. Big Wedge, 10 cts. n. Gold Creek, $2 n.

Gold Rivers, 21 cts. n. Ipo Mining 32% n. Itogans $8.30 n.

Salacots 16 cta. n. Kailan, 23/6 n.

Langkats (Single) Sh. $171⁄2 n. S'hal Exploration, Sh. $5 p. S'hal Loans, $811⁄2 0.- Rauby $12.90 n.

Venz; Goldfield, $5 n.

⚫ Docks, etc. H.K. Wharves, 107 b. H.K. “Docks, $12% n. Providents (old), $11⁄2 b. Providents (new), $50 eta, n. Hongkews, (old) Sh..$310 n. New Engineerings, Sh. $54 n. S'hai Docks, Sh. $121 n.

Cotton Mills.

American 4.96% Convention

Many long traders are hoping for a favourable reaction to the Pre- New York, Yesterday, "

address before the Last To-day's sidential

Bankers' Association to-morrow night.. Should this result, we would pre- fer to reduce rather than to in- crease holdings and we would postpone new buying temporarily. Business done: 540,000 shares,

4.05

12.25

12.20

N. Y. Rubber-

Dec.

$14.07

14.17

Chic Wheat-

Dee.

9714

97

754-

76%

63

63

.52.70

52.70

Dec.

Official

view of oil stains on Indian cotton.]

The effect of the price of silver Silver- on the world's cotton trade

was Montreal Silver-

Dec: discussed lengthily, and the ques- tion was considered so important]:

the as to warrant discussion at International Cotton Congress in 30 Industrials Italy, next Spring-Reuter.

LATEST QUOTATIONS

20 Rails

20 Utilities 40 Bonds

“Bonds:-United States Govern- ment issues and high-grade bonds were better. Second-grades were easier.

"Wheat:-The market reflected Dow Jones Avg)

the better tone of foreign advices. To-day's Oct. 20 Close Change Shipping demand for Corn was .94.78 94.65 13'off a lack of short interest. Total 35.71 85.49 22 of sales: Wheat: 22,642,000 bushels; 19.73 19.66.07 off Corn. 11,846,000 bushels. 93.59 93.74 .15 up

11 Commodity In-

"Cotton: Foreign buyers .57.88 57.90 .07 up adopted a standoff attitude, due to the fact that it is difficult to gauge Close American Agricultural programme. 35% which makes caution on the long- .110% side advisable. -

17 Leading Stocke

Amer Can

The following quotations have been received by Mesars. S. E. Levy Amer Smelt & Ref and Co., and the A.0.F.C.

Oct. 22 Oct, 23 Auburn

October

13.89 December ... .14.07 January .......14.15 March

Ewo Cottons, Sh. $11 n. S'haf Cottons. (old), Sh. $75 n. S'hai Cottons (new), Sh. $45 n. Zoong Sings, Sh. $9.49 n. Wing On Textiles, 8h. $55 n. Lands, Hotels, etc. H.K, and S. Hotels, $5% n H.K. Lands, $51% b. H.K. Lands 4% Debentures 3% May

.103

14.54 RAW RUBBER PRICES

14.78 B 14.99

Latest Quotations From Singapore

97/2 9734 9714

97%

Messrs. H. B. Joseph & Co have

market

was

"Rubber:-The quiat, but acted well Total sales: 166 lots.

(Continued on Pogé 7)

LOCAL DOLLAR STEADY

Silver Prices Weaken

The local dollar remains steady, opening on demand this morning at 1/7/%d.

Silver prices declined %, spot aliver closing yesterday at 28-11/16. and forward at 23-18/16..

The London on New York cross-

Amer Tel & Tel

277

New York Cotton: Closing Closing J. I. Case

47%

Du Pont

12.17 12.18

03/

Elec Bond & Share

10%

December

:.12.25

12.26

General Motors

29%

January

.12.28

12.29

Int Tel & Tel

March

#12:35.

12.82

McIntyre

48%

May

.12.891

12.86

Montgomery Ward

27#

Nat. Distillers

20%

July New York Rubber: October

.12.41

12.39

N. Y, Central

21%

Socony-Vacuum

14.01

Union Pacific.

14.17

U. S. Steel.

18 .100% 33%

West E & M

31%

14.29

.14.45. *

May

July

.14.66 :14.86

Chicago Wheat: December

prem, s. Shanghai Lands, Sh. $27% n. · Metropolitan Lands, Sh. $14 m. Humphreys, $10 n..

July

9214

.93%

Chicago Corn:

December

75%

May

77%

received the following Straits Cur-rate, which closed on Monday at 75% rency quotations (Buyers) from 75% Singapore for Raw Rubber.--

July

-777%

77%

Jan.-Mar-25 %. Up ̈%.

Winnipeg Wheat:"

October

761⁄4

76%

December

76

77%

a. .

May

814

New York Sugar:

October

1.71

-1.69

March

1.78. 1:71

May

1.76

1.74

July

1.80

1.78

Montreal Silver:

December

.62.70

62.70

March..

58.70 ..59.74

.54.15 54.35

54.90 A

54.85

New York Suk:

December

March

1.16 1.17

H.K. Realties, $4% ni Asia Realties "A", Sh. $140 n. Asia Realtles "B" Sh. 20 D. Chinese Estates, $90 1. ·*་ ༢ China Realtica, Sh. $15 Debentures $187 n.

Public Utilities. H.K. Tramways, $20 bi Peak Trams (old), $14 n. Peak Trama (new), $7 n.

Star Ferries, $971⁄2 n.

Yaumati Ferries $21 b.

C. Lights (old), $8.95. b., 9 sa.

C. Lights (now), $8.70 b.. $83% xa. May b., $692/- July H.K. Electrice $69

34 sa Macao Electrics, $25. Sandakan Light, $8 m. Telephone (old), $23 n. Telephone (new), $10 n China Buses Sh. 18.20 n. Singapore Tractions 4/8 b. Singapore Pref., $17/9 b...

Industrials.

Malabon Sugars, $8.70 m. Cold: Macg. (ord.), Sh. $21-n. Cold: Macg. (Fref.), Sh: 120 Canton Ices., $2.70 b. Cements, $2.85 m. H.K. Ropes, $34 n.

Stores, etc.

Dairy Farms, $23.70 n Watsons, $5% n Der. A. Wings, $1 n. Lane, Crawfords; $4_n. Mackintoshs, $21 m. Sinceres, $10 n. Wm. Powells, 70 cts. n. Wing On (HK), 110 n.

Miscellaneous. H.K. Amusements, $4 n: Entertainments, 67% zi. SC Enterprises, $1. 8a. United Theatres, Sh. $1 n. Macao Greyhounds,” 33 m. Constructions (old); $1,80 m. Constructions (new) 78 cts. Chi Govt. 5% 1925 G$Bds-87% KH: Gort. 4% Loan 8% prem. HK. Goyt 8% Loan Wallace Harpers, $7% nat Vibor Piling $6.60 b.

May

B.:-BID. A-ASKED.

April-June-26 % Up 1%. Market:-Dull.-

US$4.96, closed yesterday at £—U.S.$4.963⁄41⁄4, while the New York on London rate closed at -U.S.$4.96%, as compared with -U.S.$4.95%.

BN.R.A. Code System Of Industrial

Production Control Should End

SPECIAL TO CHINA MAIL.

try itself wants, probably will be (By "Telegraph, Copyright, Telegra continued, but the Code restrictions phic Messages Ordinance,. 1894, Re-limiting production via the cur ceived. October 23, 832_a,m,)

tailed use of machines, restricting Washington, To-day.

Installation of new equipment, or The National Industrial. Recovery price fixing, probably will be eli |Admfulstration Board is reported to minated as part of the general re-

have agreed that the N.R.A. Codo|covery policy.

1.16 1.17% 1.18 1.18%

system of Industrial; production Officials said that the Board control should be abandoned in an would, shortly, recommend the re effort to boost prices, employment moval of all brakes from produc- and purchasing power.

tion-United Press, per S. E. Levy-

AMERICAN'S SMOKING MORE Production control, which indus- and Company..

CIGARETTES

New York, Today. Cigarette production in the United States, during September, totalled 10,294,-| 498,803 cigarettes, as against 94 627,722,989 cigarettes In Septem- ber last year. Dow Jones have pre- dicated higher cigarette prices— United Press, per S. E. Levy and Company

Is It Insured? ?

Exparanes - All: Charms LOWEST RATES "American" "Asiatic Underwrite

Fed. Inc. U.S.A. General: Agents :-

Head Office

#

¿Ania® Life" Building"

Tel 30234

S. E. Levy & Co.

UNDERWRITERS AND distributors

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

7 ICE HOUSE STREET, HONG KONG

Tel: 30101 and 30108

Tel Addre