1934-10-30 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

3,300,000 Incorporated by Royal Charter, 1853

Bakariend. Capu41 - $50.000,00) ead and Pully Pafdup -noon.

Bonnera Punda ; -

Sterling among

Bulvar a m

Hamere Liability of Praprinters

Bo Mr. C. 8. 9. Machis

Chair:

9. H. Dodwell, Bag.

THE CHINA MAIL, TUESDAY, OCTOBER 30, 1934

and

Commerce

Finance.

Silver Prices Lower

£6,400,000 $10,000,000

HEAD OFFICE: LONDON

320,000,000

HEAD OFFICE: HONGKONO,

BOARD OF DIRECTOR.

Paid-up Capital Reserve Fund

£3,000,000

LOCAL DOLLAR DECLINES

£3,000,000

Reserve Liability of Pro

prietors

£7,090,000

Agencies and Branches:

Aloe Star

flolla

Kaugeda

Upok

Karanbl

Elan-

Bombay Calcutta Canton Cowopors

Поприе

Kuchex

Nalgon Semarang

Sturtl Singapor Sitiawan Hoursaya

Cabú

Colombe

Bladeno HT

Twiping

Tiantain

Delhi

Meil

Tongkah

Balphabl

Nam Yurs

Hamburg

Pall

Junghan

Hankow

joshama

Harbi

Zabunge

Deputy Chairano,

,, W, E. Dell.

Vil. L'espion, king.

*. 4, Kanwich, by.

(0) Kurgist, Eng.

ALUT

MANOKOK BATAVIA BUNDAY

CALCUTTA

CANTON QUEFOO COLOMBO DAIREN POUCHOW HAIPHONE HAMBURG HANKOW

HARDIN

HUNUEEW

FLORA

L

JOLORS

LOBE

KOWLAHIŃ

1. Making Engi

4. Morrin, Les

1. K. Patron, Esq.

4. M. Utogburn, Ray-

Caint Maunger.

LONDON

לא

LALAUCA

MANILA

SYSOKIU (Jubore),

14. BUEN

„MES YORK'.

FLIPINO PENANG

GASMUON

AALGUN

SAN FRANCISCO

KUALA LUMPU8

SHANUBAI

SINGAPORE

HABAYA

SUNRA PATANI

THESISIN

70830

TaiKOTAO

YOKOHAMA

Current Accosse opened in Local Cureaney ma l'ine Shoponite imated for ous yea” ar solar petrisin ta Eva Cuspey and tallur water which wil be quoted as application Hang Mang, 43 inch thích

Amritsar Singkut

Batavia

long Rob

transacted.

Kobe Kuala

Wann

(Bhular)

Foreign Exchange and the Baskin bed Current Accounts opened and Fixed Deposit resived for on year or shorter pacienta at caterj *Alch will is quoted on applization.

W. H. E. THOMAS,

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

The local dollar has declined a, opening on demand this morning at 11/7

Spot and forward silver prices declined, closing prices yesterday being 23% and 23%, respectively.

The London on New York cross- rate. which closed on Saturday at £-U.S.$90%, closed at £-U.S.$4.

6 yesterday, while the New York on London rate. closed át

U.S.$4.96%, as compared with -U.S.$4.96%..

LOCAL SHARES.

TO-DAY'S' QUOTATIONS,

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

Banks.

H.K. Bank $1610 b..

H.K. Bank (London), $1831⁄2 n. Chartered Bank £154 n. Mercantile Bank, A. & B. £30% Mercantile Bank C. $15. Bank of East Asia, $93 Am: 0. Finance Corp., Sh. $20 n. China O. Fin. Ord., Sh. #4 n. China O. Fin. Pref. Sh. 35 n.

Insurances.

Canton Ins., $285 0.

Union Ins, $515 b. $515'.

LATEST QUOTATIONS China Underwriter, $1.15 b.

THE BANK OF CANTON, LTD. The following quotations have

Established 1912.

Head Office:-Hong Kong.

Authorised Capital

Paid-up Capital

Total Resources

been received by Messrs. S. E. Levy and Co., and the-A.O.FC.

Oct. 28. Oct. 29. $11,000,000 New York Cotton: Closing Closing

12.29 8,655,000 December

12.21 82,170,492

12:25 12.23. 12.27 12.26 12.34 12.32

January Branches: Canton, Toishan, Shanghai, Hankow, Bangkok & San Francisco, March

HONG KONG SAVINGS BANK London Bankern: Lloyds Bank, Ltd., May

The blame of the shara Emut is onduct

• the LONG BUNG AND SHANGILAT

ANLING CORPORATION.

blazed pa spplies..

OM THE HONG KONG AND SHANGHAL

BANKING CORPORATION

V. M. GRATIURN,

Bong Boug. February, 1934,

THE BANK OF EAST ASIA, LTD.

Ausbursed Capital

Pup Capital

...$13,000,000.00

v sud Calif.54,000.00

BEAD OFFICE-HONG KONG

Ed, Das. Tom Road Centrul

BOARD OF DIRECTORA:—

Sir Show Chow, Chair

La La Ubud, Ex P. B. Kwok, is o

Twa Toug, Erg Chan Ching Shok, Eng., Ed Lan Hang Eit, Wong Chu Soo, Bag, and Kan Ying No, Em

J

Has Tong Po, Eay.. Chief Manager. LE Pang. Exp. Maangor.

SAFETY FIRST!

To Safeguard Your Valuables and Jewelleries.

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

OUR SAFE DEPOSIT VAULT

China Fire Ins., $510 m. H.K. Fire Ins., 3237%1⁄2 n. International Assce. Sh. $6 n. Shipping.

Douglases, $41 n. H.K. Steamboats, $74 n. Indo-China (Pref.), $30 n. Indo-Chinas (Def.), $33 m. Shell (Bearer), 46/71⁄2 n. Union Waterboats, $13% .

Mining,

Antamoka, 60 cts. n. Balatoes, Ex. Div. $37 n. Bagulo Gold, 46 ets. n. Benguet Consolidated

. cts. n.

41%

Benguet Exploration 17 cts. b. Benguet Goldfield, 20 eta, n.

Big Wedge, 10 ets. n.

Gold Creek, #2 n.

Salacots 16 cts. n.

Foreign Exchange

and

Banking July

12.40

12.33

business of every discription trans-October (1935). Jacted.

12.31

12.21

Hulen ay be

Current Accounts opened and Fixed Spot

12.50

12.21

Deposits reces ved for one year or New York Rubber: shorter periods at rates which will be December

13.93 13.99

quoted on application.

Chiat Wanegur.

Safe Deposit Boxes (various sizes) for hire.

LOOK FOING SHAN,

January

March

Chief Masst.

May July

14.06. 14.33 14.37 14.52 14.57

14.12

14.72 14.76

Soptember

14.97

Chicago Wheat:

Gold Rivers, 21 cts. n.

December

96

94%

Ipo Mining $21⁄2 n.

May

954

94%

Itogans $6.30 11.

Deposit them in a Vault

July

91%

89%

Chicago Corn:

Kailan, 22/6 p.

December

74%

73%

Langkats (Single) Sh. $17% n.

May

76%

76

S'hai Exploration, Sh. 65% n.

July

TG

761⁄4

S'hai Loans. Sh.$6% n.

Winnipeg Wheat:

Raubs $10.40 n.

October

75%

74%

Venz; Goldfield, 35 n.

76%

75%

31

*802

New York Sugar:

1.79

1.78

1,69

1.67

1.73

1.70

July

21:77

1.74

New York Silk: December March

1.16

1.16

1:16

1.172

May...

1.174

1.18

Montreal Silver:

[December

52.86

March.

53.80

May

2

July New York Metals;

Copper, March.. Tin.

55.00

52.20 53.15 54.30 53.70

54.10N

URANCE AND AGENCIES --

almis

Masavin Ex

Moltourne

tinalida

Bea

Negaki

rikangkan

UniDutie

New York

ingapore

Drake

bourabaya

phong Maukow

Parla

Brow

bydtiny

Talisku

-Tigatio

Hochstu

Auricon

GURUR

Pelping

Paing

Kangoon

Saigon

des FranceS

ド

bi zakenctad.

Tokyo Vancouver Toinkeme

Lows, dewcripting of Booking and Exchange Lo glad on approved

cities.

Lo Carrend tlurent About med in

уки се Mixed Imposite copied for oba

bare poriods in Local and Foralga Currencies arm which will be quoted on sypiaralium.

Hale Depot Com In Lec

KAN TONG FO.

Chist Manager. Hung Boog, it tweak, 1984.

THE BANK OF TAIWAN, LTD.

Head Office-Taiboku, FormosE, Incorporated in Japan by Special ·

Imperial Charter, 1899. Central Bank of Formoss, Notes

issued Average amount Y.45,000,000

Branches and Agencies. Japan:-Kobe, Osaka, Tokyo, Yoko- bama, Keelung, Makong, Nanto, Shoka, Shinchiku, Taichu, Tainan, Taito, Takao, Temsui, Toen, Karenko, Kagi, Heito, Giran.

China: Amoy, Canton, Foochow, Han-

kow, Shanghal, Swatow.

Others: Bombay, Hong Kong, London, Singapore, Batavia, New York, Samarang, Soerabaya, Dairan On and after April 20th, 1984, the rete of Interest on Special Current Deposit will be at 1% pa on 'dally! balance and the rate for balance over $10,000 will be quoted on application (Maximum rate-14).

Y. OHNO,

Manager.

"Hong Kong Branch

3, Des Voeux Road, Central,

THE YOKOHAMA SPECIE BANK LIMITED.

Established 1880 Capital (fully paid-up) Yen.100,000,000 Yen.124,250,000 Reserve Fund

Head Office:-YOKOHAMA

Branches and Agencies at: Alexandria

Batavia

Berlin

Calcutta

Bombay

Nagasaki Nagoya New York Osaka Paris:

Peiping Rangoon

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

Hamburg

San

Francisco

Seattle Semarang Shanghai Singapore Soerabaya Sydney

Hankow

Harbin

Hong Kong

Honolulu

Hsinking

Karachi

Kobe

Tientsin

London

Tokyo

Los Angeler

Tsingtau

Kanils.

Tingkow

Mof

Intarset allowed on Uzrent

Deposita, received for sed periods i

located on the Mezzanine Floor of Our New building is Specially Con- December structed to provide all of these Im-May portant Qualities,

You may obtain a Safe Deposit October Box In this most up-to-date Vault for March your own use at a very moderate Rea-

May tal:

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:--45, Broadway. New York

.....U.S.$3,000,000.00 Capital Surplus. 2,087,112.69- Reserves... 1,995,528.81

Amsterdam ABTEND

Pelpab Palerm Bourd

BRANCHES:--

Üsgoe tinagaw

TA

1

Milwa Stic Suplen

ASSURA Benbe

Barlin Bombay Вещей. Brunol Cako Calculte Cannon Colombo Copenhagen Dublin Edlaburgh Firence Qapers

Katana Hamburg Harre Heidelberg Turlaken Jerusalem Lados Lienpoal

Parik

Bor

Tapers.

Hiszpa

Lugano

Luter

Mamailion Monte Carlo

Manila

Musich

Yontrous

bingh

Варо

fintelo Termina Viens Tenta

Yokohama Zurich

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

All classes of Commercial Banking Kransactions' undertaken.

Oct. 20. Oct. 29.

6.11 6.06 50.80 50.75.

*N-nominal,

PRINCETON ECONOMIST SEES

STOCK ADVANCE

New York, To-day-Dr. E. D. Kemmerer, the Princeton econo- mist, addressing the Investment | Bankers' Convention, yesterday predicted £ sharp advance in stocks and commodities and a de- cline in high-grade bonds-Unit- ed Press. per S. E. Levy and Com. pany.

SHELL UNION OIL.COMPANY

SHOWS PROFIT.

New York, To-day.--The Shell Union Oil Company's third quar- ter profit totalled U.S.$1,488,704 against a loss of U.S.$897,592 for Personal investment accounts the previous quarter and 3 pro- handled.

fit of U.S.34.536,630 during the corresponding quarter of last

The Company offers to intendleglycur. Tinited Press. per S. E. Travellers the use of its "Travelers Levy and Company. Cheques" and Letters of Credit and. addition, the world-wide services f its thoroughly equipped Travel De-

pament.

G. H. BENSON,

General Manager.

FIVE PER CENT. INCREASE IN U.S. TYRE PRICE SEEN

New York, To-day.An automo- bile tyre price increase of over 5 per cent is expected before No- "THE WING ON BANK, LTD. vember 1-United Press, per S. E.

HONG KONG

Authorised Capital $10,000,000.

Foreign Exchange and Banking Business of every, description transact ied.

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

Safe Deposit Boxes (various sizes) for hire,

PHILIP GOCKCHIN

Chu Chiefs Manager

Assistant Manager -

2 rates to be obtained on application. L. GOCKCHIN

C. KISHINAMI,

Hong Kong 11th September, 1994.

LI SEU FONG;: Assistant Manager.

Levy and Company.

THE SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED

Incorporated in China)

Capital paid up ..$5,000,000. Reserves

$7,000,000.. Capital Savings Dept, $500,000, Reserve Savings. Dept. $500,000. --- Hend Office-Shanghai S

A Bank having as its mission the Industrial development of China and the fostering of her commer... cial relations abroad. Magy Hong Kong office-7 Ice House St.

· Phone 11481-3AT

Docks etc..

H.K. Wharves, $107 b. H.K. Docks, $12.65 b. Providents (old), $11⁄2 b. -Providents (new). $50 cts, a. Hongkews, (oldi 9h. #316 n.' New Engineerings, Sh. $5% 'n. S'hal Docks, Sh. $1271⁄2 n.

Cotton Mills.

Ewo Cottons, Sh.$10 n. S'hai Cottons (old), Sh. $75 n. S'hai Cottons (new), Sh. $46 n. Zoong Sings, Sh. $9,40 n. Wing On Textiles, Sh. 355 n.

Lands, Hotels, etc.

H.K. and S. Hotels, $4.90 s. H.K. Lands, $51 b., $511⁄2 sa. H.K. Lands 4% Debentures 2%

prem. s...

Shanghai Lands, Sh. $29 n. Metropolitan Lands, Sh. $14 n. Humphreys, $10 n._ H.K. Realties, $41⁄2 n. Asia Realties "A", Sh. $140 n.. Asia Realties "B" Sh.$20 n. Chinese Estates, $90 n. China Realties. Sh $15% n. China Debentures $137 R.

Public Utilities.

H.K. Tramways, $19% sa. Peak Trams (old), $14 n Peak Trams (new), $7 n. Star Ferries, $971⁄2 n. Yaumati Ferries- $213⁄4 n.. C. Lights (old), $8.90 b. C. Lights (new), $8.70 b. H.K. Electrics $69 n. Macao Electrice, $25 a. Sandakan Light, $B n. Telephone (old), $28 b. Telephone (new), $10 n. China Buses, Sh. $18.20 n. Singapore Tractions 4/3 b. Singapore Pref., $17/9 b.

Industrials."

UNCERTAINTY

- FORECAST ON

WALL STREET

SERIOUS REACTION

NOT EXPECTED

UNEMPLOYMENT FIGURES

....

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 Messrs. 5. E, Levy and the American Orienta! Finance Corporation.

Last Close Opening 11 a.m. 4.98%--- 4,00 -12.31 12.33

May

A favourable factor yesterday N.Y. Silk Dec.

that the New York Times! way business index was 75.9, as against C. Wheat Dec. 75.0 for the previous week and c. Corn Dec. 76.6 during the corresponding per-i ind of last year.

Wad

-53.35b

SILVER RESERVE

FIGURES RISING

FAST IN AMERICA

Mexico Purchases Continue

TREASURY ANNOUNCEMENT --

SPECIAL TO CHINA MAIL. (By: Telegraph, Copyright, Telegra, phie Mensages. Ordinance. 1891, Be ceived October 30, 5.14 am)

Washington, To-day. · The United States Treasury an nounces that 746,469 ounces of

silver were acquired during the week ended October 26, 'making the [total nationalised, stock 98,068,937

¡ounces.

New York, To-day. Chart compilers forecast uncer tainty on Wall Street, but they do N.Y. Colton Dec. 12.23

Mar. not believe there is anv likelihood M. Silver Dec. 62.86 52.45b 62.45b of a serious.reaction.

Y.N./London

12.27

Mar.

Mar.

་

58.80

110.

14.33

116b

14.35

· ពួ

06%

95%.

740

06% - 74%

May

70%

-- 70%

W. Wheat May STOCK8:

81

81%

34%

2314

231 23

20% 91

25%%%

90% 90%

9%

2014 0%

unemploy-McIntyre Porcu 42% ment at 9,976,000, as against 9, Montgomery W. 27"

Nat Distillers

21% 675,000 last year.

NY. Central

28% 29%

'43

26 27

21% 22

21%

214 215%

39% 39%

refused to any how Mexican silver had been

He much

pur-

31% 31 31% London Prices,

chased, but he said that the

Malabon Sugars, 38.70 n. Cald: Macg. (ord.), Sh. $21 n. Cald: Macg. (Pref.); Sh. 320 n. Canton Ices, $2.85 b. Cements, $2.15-5. H.K. Ropes, $81⁄4° ¤,

Stores, etc. Dairy Farms, $23 m. Watsons, $5% n. Der. A. Wings, $1.n. Lane, Crawfords, $4 n. Mackintoshs, $21 n. Sinceres, $10 n. Wm. Powells, 70 cts. n. Wing On (HK) $110 D.. A Miscellaneous. H.K. Amusements, $4 n. Entertainments,: $731⁄2 na S.C. Enterprises, $1 n United Theatres, 8h. $11⁄4 a. Macao "Greyhounds,” $2 «n. Constructions (old), $1.80 n. Constructions (new), 78 cts. b. Vibro Piling $6,60 sa. **

An unfavourable factor

Amer Smelting that the American Federation

of Auburn unemployment Con Gas. N.Y. Labour estimated during September. at 10,951,000, as Du Pont against 10,108,000 in September Elec Bo & Share 94

General Motors 29 last year.

Int Tel & Tel: 9%

29 The Industrial Conference Board Loew's Ine estimated September

S. E. Levy And Company's Report Stand. Oil NJ 3915

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

It also acquired 268,000 ounces of newly-mined silver, making this, [total 16,815,000 ounces since the executive order of December 21,

1933.

The Treasury

Secretary Mr. Henry Morgenthau, said that the Government was continuing to pur- chase silver in Mexico in a "purely Governmental

transaction,"

The following quotations from Lan. Treasury was bidding when it was don were received last night between offered, at irregular intervals.→ 6.30 pm. and 10.30 p.m.

United Press, per S. E. Levy and "Stocks: The market was again Silver Spot 23. (last close), 23-

Company. extremely dull and lifeless and little (last record). 1/8 down (change).

Silver Forward 23-4 (last close), change is expected for the present-23-% (last record), 1/8 down (change), Business done: 430,000 shares;

Silver Report:-China and specula-

India and America bought..

"Bonds: United States Govern-tors sold. ment issues were off fractionally. Market closed steady.

Gokl 140/5- (last close), 140/7 High-grades were firm, but trading (last record), 1-14d up (change), was quiet. Second-grades were off. Loridon/N.Y. Selling Rate 4.96-% "Grains: The Canadian Premier's (last close), 4.95-7/10 (last record), speech regarding the necessity of 11/16 down (change),

London/Paris Selling Rate 75.28 trading restrictions is construed us (last close), 75.09 (last record), 19

a bearish factor and the strong sup-down (change), ply situation in the United States

««=>=XXX

Everything

gonė

BUT YOUR

SAVINGS

RENT

up]

Liverpool Cotton-Mar. 6.0 (last}

was temporarily ignored. Total close), 6.67 (last record), .02

(change). sales: Whoat: 0,682,000 bushels:

Liverpool Wheat-Dec. 5/0-% (last) Corn: 4,761,000 bushels.

close), 5/1-4 (last record), 1-% up "Cotton: Uncertainty regarding (change). the acreage in 1935 in restricting 6-13/16 (last close), 6-7 (last record).

trading.

We think that switching

of part of December cotton to May

is advisable.

(Continued on Page 7)

Latest Quotations

The following quotations have been received through Mesara, S. E Levy and Company and the Ameri Scan Oriental Finance Corpora [tion:

New York, Yesterday.

Last To-day's N.Y./Landon Cross-Rate 4.06% 4.90 N.Y. Cotton-Der,

12.21 ... 12.23

13.93 13.99 IN.Y. Rubber-Dec. Chic Wheat-Dec.

94% Chic Corn-Dec.

73% 52.20 527

06

74%

Montreal Silver-Dec. 5285 Silver-Official

53

(Dow Jones AvE)

To-day's

Oct. 27 Close Chance 30 Industrials 92.80 92.53 .39 off 20 Rails... 34.08 34.60 -29 off .06 off 20 Utilities 19.19 19.13 40. Bonds 93.45 93.40

11. Commodity

Index

57.33 50.06 17 Leading Stocks

Amdr Can.... Amer Smelt & Ref Amer Tel & Tel Auburn

J. 1. Case

Du Pont

Elec Bond & Share General Motors Int Tel & Tel Montgomery Ward' Mcintyre Nat Distillers N.Y. Central Socony-Vacuum Union Pacifie

U.S. Steel

West E&M

London Rubber--Jan.-Mar. (buyers)]

6/16 up (change).

Landon Rubber-Jan.-Mar. (sellers) 6-16/16 (last close), 7 (last record), 1/16 up (change).'

London Rubber-Jan.-Mar. at noon (buyers) 6-% (last record).

London Forecast

on

the

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

Wall Street is weak and in a quiet X mood and another uninteresting session is anticipated. Views are too diver- gent to create confidence.

The Cotton market is expected to open higher in sympathy with whent. The season's carry-over in the United States outside Government handa s likely to be very small, unless prices rine sufficiently to permit the release of The some of the pool holdings, weather in the northern cotton belt la very cold, a marked change from the previous very mild Autumn.

Wheat prices are anticpated t open higher, due to increasing nervous- rust ness regarding the Argentine situation.

The Rubber market will probably

:03.off

joper easier.

.37 off

Close

100

3412

Business done:-430,000 shares,

109%

CONSUMPTION OF AMERICAN COTTON DECLINES

New York, To-day. The cotton

23 exchange has reported that the 44 September world consumption of 90%

United States cotton at 848,000

28 bales, as against 980,000 bales in 9 August and 1,196,000 bales in Sep- 26% tember last year.

42

21%

The decline is chiefly attributive 20to. the American strike.-United 13 Press, per 3. E. Levy and Com- 101 pany.

81

99%

RAW RUBBER PRICES

STOCK EXCHANGE BALANCE.

SHEET PUBLISHED

Latest Quotations From published a

Singapore

+

FOOD

CLOTHING

-

HEAT

TAXES

WATER

CHITS

SAVINGS

SAVE SOMETHING

START NOW UNDERWRITERS

SAVINGS BANK

FOR THE FAR EAST,

INC.

Anis Life

Batiding Hong Kong

TCL 30234

Is It Insured? ?

Insuranes All-Classen

LOWEST RATES - American Asiatic Underwriters

Fed, Inc., USA. General Agents

Head Office

New York, To-day-The Securl- ties Exchange Commission has 17, The Bund,i

atock exchange ba-1

Shanghai lance sheet showing assets of U.S.843,846,064. United Press,

Messrs, H. B. Joseph & Co. have per S. E. Levy and Company, received

the

following Straits

Currency quotations (Buyers) from

Singapore for. Raw Rubber.

Jan./Mar. 24% up 4.

April/June' 26% úp ́3⁄41⁄4. -Market:--Dulf

STEEL INDUSTRY UPTURN PREDICTED

New York, To-day-The maga= zine, "Steel," has estimated pro duction at 25.8 per cent. of capa- city, as against 265 per cent. last week. The journal has predicted an imminent upturn. United Press, per S. E. Levy and Com- pany...

STEEL PRODUCTION INCREASE

New York, to-day-The Amerl-

Ch. Govt. 6% 1925 G3Bds-87%n. can Steel Institute reports produc

H.K. Govt. 4% Loan 8% prem. n.

tion at 25 per cent of capacity.

H.K. Govt. 34% Loan 2% prem, which is an increase: of: 1.1 points. United Press per 3. E. Levy and Company.

Wallace Harpers, $7.1⁄2 n.

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

ICE HOUSE STREET, HONG KONG

Tel. 80101 and 80103

'H.K."Once

Asia Life & Building Tel. 30234.

Tel Address: Belco