1934-11-01 — Page 6

BANKS

BONG KONG AND SHANGHAI

BANKING CORPORATION.

Amhorized Capicat......... Kamal and 17idly Fald-up mo

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Berve Yonda 199

Merling

6,800,

Hero Jablity of Proprietors.....$20,000,000

HEAD OFFICE: HONGZONO,

BOARD OF DIRECIONA,

Lou -6.0. E. Stacisze Cheiros,

§. X. Dodwell, B

Deputy Chairman.

THE CHINA MAIL, THURSDAY, NOVEMBER 1, 1934

and

NEW YORK STOCK

**EXCHANGE

Commerce

Finance.A.0.F.C. Quotations

BANKERS AID.

U.S. RECOVERY

Conditions Reported To Be Improving

$40,000,000

90,000,000.

Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON

INVESTMENT

Paid-up Capital

£3,000,000

Reserve Fond.

£3,000,000

Reserve Liability of Pro

prietors

.£3,000,000

Agencies and Branchen:

átor Ber

Hollo

Kangoon..

Acaritar

Ipok

Balcon

Hangkok

Karucht

Serkurang

Hm. Mr. W. J. Bali. d. Compton, Esq. Wad, Koawich, Esq. 020. Baight, Pag.

G. Mixhiu, Eng.

Baria

Betrates

£. 3. Marnius, Zaq.

Bezabay

Ipbe

Shanghal

Calcutta

Kuala

Bingapore

T. Z. Procon, Rag.

Denton

Bi1

Cawnpore

Buching

Cebu

Kadena

Talping

Colom

Manila

Tiamiin

Medes

Togkah

Halphons

New York

(Baker)

Hambur

Palpinx

Hankow

Peking)

Habip

Tenang

Yokohama Zamboang

AMOY

BANGKOK BATAVIA BOMBAY

DALCUTTA

DANTON JURYOD UNLONDO DAIHEN

CHOW

SAEPIJUNG SAMBURO

MANKOW

KAMHIN

HONGKEW

FLORIA

ДРОН

JOHORT

KOAZ

KOWLOON

•V. M. O'rybar, Eng

Chief Manager:

KHANGHES

JAINDON

LYUNS

MALACCA

MANILA

MUAB (Jakaru

MUKDEN

SBW TORZ

PEIFING

PENANO BANDOUS

BAIGON

SAN FRANCISCO

KUALA LOPER

BHANGHAI

SINGAPORE

HURABAYA

BUNDEI PATANI

TIENISTS

TOKYO

-THINUTA

YOKOHA

Curryal Accounts repened le Lanal Currency ad Fized Deposit received fur, voo your or Abuster periode in Looni Conpens and darling terms which will be quoted in spication. Long Kong. 5 April, 1984.

HONG KONG SAVINGS BANK.

The Business of the shore Beak is conduct. by the 110NG KONG AND SKANUBAI BANKING CORPORATION.

alized on #pplicati

| Long Hoars

transacted.

Lampar

Boursos ya

SPECIAL TO CHINA MAIL. (By Telegraph, Copyright, Telegra phic Messages Ordinance, 1894, Re- ceived November 1, 9.18 (158)

White Sulphur Springs, To-day. The Investment Bankers' adjourn ed yesterday after opening full as-

Foreign Exchange and Dural Beaking bulsistance to the recovery programme. Carres) Accouble opened and Fleet Deposit The consensus of opinion was that! scalred for one year or shorter periods at conditions are improving in many which will be quoted on application.

W. H. E THOMAS, places, including the restoration of

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

The Congress favoured higher

THE BANK OF CANTON, LTD. ownership of utilities.

Established 1912.

Head Office: Hong Kong.

Authorised Capital

Pald-up Capital

$11,000,000 8,835,000 32,170,492

Total Resources Branches: Canton, Teishan, Shanghai,| Hankow, Bangkok & San Francisco. London Baukera. Lloyds Bank, Ltd.,

Foreign Exchange and Banking: businers of every discription trans- acted.

rail rates and laver taxes, and op- posed the expansion of Government It urged that relief activities should be re- stored. United Press, per S. E. Levy and Company.

LOCAL DOLLAR ·

STEADY

Silver Prices Decline

13 steady.

LOCAL SHARES.

TO-DAY'S QUOTATIONS.

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

Baoka.

H.K.' Bank $1640 b. H:K. Bank (London), $1331⁄2 n. Chartered Bank £16 n. Mercantile "Bank, A. & B. £80% -0. Mercantile Bank C. £18 n. Bank of East Asia, $98 n. Am: O. Finance Corp., Sh. $20 n. China O. Fin. Ord., Sh. 4 n. China O. Fin. Pref. 8h. $5 n.

Insurances,

Canton Ins., $285 n."

Union Ins., $520 b.

S. E. Levy And Co. And

⠀

The following quotations from New

York have been received by Blessra.

LEADERSHIP

LACKING ON

WALL STREET

Fractional Gains

Predominate

S. E. Levy and the American Oriental NARROW MARKET EXPECTED

Finance Corporation.

NEW ADVERTISEMENTS

NOTICE

· BRITISH-AMERICAN TOBACCO

* COMPANY (CHINA) LTD, BRITISH CIGARETTE COMPANY

New York, To-day. The market was dull but steady yesterday with minor fractional 12,20 gains predominating. A slight im-beg 12.27provement seems indicated but

with leadership lacking a dull and] narrow market is expected..

LIMITED.

and

ENTERPRISE TOBACCO

COMPANY LTD. ( to announce that from this

date their businesses in China will be carried on by:

YEE TSOONG TOBACCO COMPANY LIMITED.

and.

YEE TSOONG TOBACCO. DISTRIBUTORS LIMITED

S. E. Levy And Company's Report In their market report, Messrs. 18. E. Levy and Company, corres- pondents for Messrs. White. Weld and Company, New York statà: -

"Stocks:-The extreme dullness 94% of the market precludes any pro- but that they will continue to gnostications. Business, done:-trade in Hong Kong, Macao and Kwong Chow Wan, under their own 420,000 shares.

names exactly as in the past.

Last

N. Y. Cotton

Dec.

Mari

N. Y./Lon-

klon. 4.08%%

12.22 12.27

Close Opening 11 am

4,334

M. Silver-

Dec.

.62.40

Mar.

.59.35

52.10 59,00 A

N. Y. Silk

Dec.

*1.15

N. Y. Rubber-

Dec.

Mär.

.13.82. 14.10

1.16

13.32 13.60

C. Wheat-

Dec.

DS

95%

May

95%

C. Corn-

Dec.

76%

China Underwriter, $1.10 b., $1.15|

May

76%

76%

|W, Wheat~~~

名籍。

Blay

804

STOCKS

Amer Smelting 34

Auburn

2314

Can Gas N. Y.

28%

25%

Du Pont

914

91%

Elec Bo &

Share

0%

General Motors · 28

29

20

9%

9%

Loew's Inc....

284

MeIntyre Purcu

44

Montgomery

Ward

20%

- 27 2714

.

Nat Distillers

2144

214

21%

N. Y. Central

20%

Standard Oil NJ. 40%

40%

414

U. S. Steel... 314--

London Prices.

40% pressure of October offers is un-! 32% settling the market, Price-fixing

China Fire Ins., $510 n. ILK. Fire Ins., $23732 n. International Assce. Sh. 86 n. Shipping.

Douglases, 841 n. H.K. Steamboats, '371⁄2.n. Indo-Chinas (Pref.), $30 n. Indo-Chinas (Def.), 888 m. Shell (Beater), 45/71⁄2 n. Union Waterboats, $18% n-

Mining. Antamoks, 60. cts. n. Balatocs, 837 n. Baguio Gold, 46 ctá. n.

Consolidated-

-

dollar The local Current Accounts opened and Fixed Rules mas be

Deposits received for

Benguet one year of opening on demand this morning at horter perioda at rates which will be 1/7. quoted on application.

Safe Deposit Boxes (various sizes) for hire.

FOR THE HONG KONG AND SHANOKAL

V. M. GRATOURN

BANKING CORPORATION

Chial Manager.

Hong Kong, 25th Fabrsary, 1994.

THE BANK OF EAST ASIA, LTD.

Anshorised Capital

Pd-up Capita

And Undivided Proûte

$10,000, 600.60 $5,599,600,0

$1,44,000.00

HEAD OFFICE-HONG KONG

12. De Vous flood Centre.

BOARD OF DIRECTORA :-

Bir hou-son Chow, Chairma

14 Lyon Choa, Eq., 2. R. Ewok, Laq., Woog Jus Tang. Hey.. Chan Clung tibet, Esq.,

Lan

Bang Em Wong Chu Bon. Eng. and Kan Ying Ja, "Bay

·Bombay

Beo Tour Po, Esq.. Chief Masager.

Li To Far. Eng., Monagar.

BRANCHES AND AGENCIES:-

Diankia

Melurna Nagsaki

العميل

Shanghai

MULATİN.

Unu Genton

New York

Singapore

Osaka

bourabaya

Flugkong

Pariz

• Bwalow

Haskow

Pepton

by inny

Resolulu

Pentag

Kobe

Fabgood

Balgon

Ban Francisco'

Kowloon

London

·Talboku

Talkin Tako VADOUTE! Yokohama

Crary description of Banking and Exchange approved Loans gel na Mula transacted.

0743 Current Accounts opwaad in Local furmad Fixed Depoalla rived for one year peter perioda in Local and Foreign Currables terate witch will be quoted as application. Hate Deposit goes to Les.

KAN TUNG PO,

Chief Manager.

Hong Kong. Ist March, 1951.

THE BANK OF TAIWAN, LTD.

Head Office:Taihoku, FormesE, Incorporated in Japan by Special Imperial Charter, 1899. Central Bank of Formosa, Notas

issued Average amount Y.46,000,000

Branches and Agexcles. Japan:-Kobe, Osaka, Tokyo, Toko- hama, Keelung, Makong, Nanto, Shoka, Shinchiku, Taichu, Tainan, Taito, Takao, Tamaul, Toen, Karenko, Kagi, Helto, Giran.

LOOK POONG SHAN,

Chial 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

Spot and forward silver prices declined closing prices yesterday be- ing 23% and 23-7/16, respectively.

The London on New York cross- rute, which closed on Tuesday at 4-U.S.$4.98%, closed at £-U.S.$4.- 97. yesterday, while the New York on London rate closed at £—U.S.$4.974; as compared with £-U.S.84.9834.

i

cts. n. Benguet Exploration 18 eta, b. Benguet Goldfield, 20 cts, n. Big Wedge, 10 ets. n. Gold Creek, $2 n. Gold Rivers, 21 cta, n. Ipo Mining $21⁄2 n.

Itogans $6.30 n. Salacots 16 cts. n.

Kallan, 22/6 n.

Langkats (Single) Sh. $171⁄2 n. S'hai Exploration, Sh. $5% n.

LATEST QUOTATIONS S'hai Loans, Sh.$61⁄2 n.

The following quotations have Our New building is Specially Con- been received by Messrs. S. E. Lavy structed to provide all of these Im and Co., and the A.0.F.C. portant Qualities.

your own use at a very moderate Ren-January..... tal.

March

Inspection Cardinlly Invited.

Oct. 30. Oct. 31.

You may obtain a Safe Deposit New York Colton: Closing Closing

12.22 Box in this most up-to-date Vault_der December

...12.15 12.26 12:16 12.27 12.20 12.33 12.24 12.32 12.19 12.10 11.82 12.45 12.40

THE NATIONAL COMMERCIAL May

& SAVINGS BANK, LTD.

Corner of len House Street and

Des Voeux Road, Central -

THE

AMERICAN EXPRESS COMPANY, May

INC.

Head Ofco:-65. Broadway, New York

Capital ..... .U.S.$8,000,000.00 Surplus

2,087,112,69 Reserves

1,995,528.81

Raubs, $10.30 b. Venz; Goldfield, $5 n.

Docks, etc.

H.K. Wharves, $107 b.. H.K. Docks, $12.70 b. Providents (old), $1.55 b. Providents (new), 350 cts. n. Hongkews, (old). Sh. $316 n. New Engineerings, Sh. $6. S'hai Docké, Eh. $1271⁄2 n.

Cotton. Mills. Ewo Cottons, Sh.$10 S'hal Cottons (ojd), Sh. $76_n. S'hai Cottons (new), Sh. $46 n. Zoong Sings, Sh. $9.40 n.

n.

. Wing On Textiles, Sh. $55 n.”

Lands, Hotels, etc,

H.K. and S. Hotels, $4.90 n. H.K. Lands, $51 b.

HK. Landa 4% Denbentures 2%

prém. sa..

Shanghai Lands, Sh. $29 n. Metropolitan Lands, Sh. $14.2. Humphreys, $10 n.

H.K. Realties, $4% n.

Int Tel & Tel.

35%

"Bonds:-U. S. Government is- 80% aues were easier. High-grades were off slightly. A large block 23% of railroad issues entered the 25% market and was readily taken.] 92% Second-grade Issues were easier.

"Grains.Offerings were dimin- ishing on declines. There is some! 9 fear of the possibility of the im-1 29%portation of Argentine wheat. bushels;

9%

Total sales:-24,849,000

Corn:-9,987.000 bushels.

"Cotton:-The easthess

21% cotton-goods markets

of the and the to

The following quotations from Lon-on a scale-down in old crop op- den were received last night between tions was the main support. 5.30 p.m. and 10.30 p.m.

"Rubber: - The restriction SILVER:

agreement is postponed and not Spot:-28-9/16, (Last close); 23-3/8 shelved. It is believe that to-day's (Last recd.); 3/16, down (Change),

Forward:-23-11/16, (Last close); break in prices should convince 23-7/16, (Last recd.): 1/4 down, the Dutch authorities of the ur- (Change).

gency of a regulation understand- SILVER REPORT:-

The fall is chiefly due to speculative ing. A 20 per cent restriction) re-selling. The American Government is not expected. Even if it is re-l bought. Market closed' steady,

duced to 25 per cent,, it is thought] Gold: — 139/10-1/2, (Last close); that any drastic break at the open- 130/7, (Last reed.); 3-1/2d down, ing would discount the worst news (Change).

London/N. Y. Selling Rate: 4.08. and purchases are recommended. 1/2 (Last close): 4.98-1/2, (unchang. Factories are reported to be large ed).

buyers of rubber. Total sales:- London/Paris Selling Rate:-75.05,1,229 lots."-Reuter,

(Last clone): 75.65, (Last reed); (un-) changed).

Liverpool Cotton-Mar:-0.68, (Last)

Market Factors

The following telegrams were

close); 6.61, (Last recd.); 03 P received by Mesare. S. E. Levy and

| (Change),

Liverpool Wheat-Dec.1/11-1/2, Co. from Reuter:

(Last close); 4/11, (Last reci.);,1/2, Favourable factors prior to the down, (Change),

opening of the market. (1) Steel

BRITISH-AMERICAN TOBACCO

COMPANY LTD, LONDON, and

YEE TSOONG TOBACCO COMPANY LTD.

also announce that they have appointed

·YEE TSOONG TOBACCO

·DISTRIBUTORS LIMITED,

be their Sales Agenta in Chins,

with effect from this date.

November 1st, 1934.

XX=>=XXX·

Everything

gone,

. BUT YOUR

SAVINGS

RENT

FOOD

CLOTHING

HEAT

TAXES

the

WATER

CHITS

London Rubber-Jan./Mar.:-(bay-|

more encouraging, with ers) 6-3/4; (Last close); 6-1/2, (Last news is

heavier bookings reported in recd.): 1/4 down (Change).

London Rubber-Jan./Mar.:-(sell-Chicago district. (2) Minor reac- era) 6-7/8, (Last close); &-9/15, (Lasttionary tendencies fail to induce recd.): 5/10 down, (Change)...

London Rubberat noon (buyers)-important selling. e-1/13, (Last recd.).

Unfavourable factors: (1) The

London Forecast

U. S. Steal Corp's report is about A forecast from London on the as unsatisfactory as had been ex- probable trend of the New York mar-

(pected. (2) Further sales of seats ket, states:-

The publication of the U. S. Steel on the New York Stock Exchange Corporation's report is expected to at $75,000 and $70,000 is constru- create an unfavourable impression oiled as reflecting pessimism regard-| Wall Street, resulting in a quiet and ing the volume of trading in the dull session.

In Wheat, the market is likely to near future. be influenced by the weakness of the Buenos Alres market, which continues!

July

October (1935) Spot

New York Rubber: December January

March

July

September

13.82 12.91 13.92 13.02 14.16 13.27 14.35 13.48. 14.55 13.62 14.76 13.83

Chicago Wheat:

December

96

95%

May

95%

94%

July

893%

,87%

Chicago Com:

December

75%

76

BRANCHES:--

May

76%

77

Amierdam

Antwerp

Geno Glasgow

Milan Nice

July

77

77

Asia Realties "A", Sh. $140 n. Asia Realties "B" Sh. 20 n. ' Chinese Estates, $90 n.

Atham AMULO

15

Xaplas

Winnipeg Wheat:

Pirsava

October

Bule

Hamburg

Paris

China: Amoy, Canton, Fooehow, Han-

kow, Shanghai, Swatow.

Berlio

Bomber Breman

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

Others: Bombay, Hong Kong, London, Bria

Cairo

Hatre Eisida!bery Katarlakan Jerusalem London

December.

74% 75% 75

741⁄4

H.K.

May

80%

80

$19.70/80 Ba.

don:

7

New York Sugar:

Calapita

Liverpo

for Iturapon

October

1.77

1.81

Peak Trams (old), $14 n.

LUDETES

Lugase

March

1.68

1.68

Peak Trams (new); $7 n.

Star Ferries, 8971⁄2 1.

L

Barselon

May

1.70

1.72

Yaumati Ferries $22 b..

July

1.74

1.76.

New York Silk:

December March...

May Montreal Silver: December

1.152 1.16 1.162 1.17 1.18

1.18

.62.40

On and after April 20th, 1934, the on Special Current rate of Interest 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).

T. OHNO,

Hong Kong Branch

Manager.

8, Des Voeux Road, Central,

Cannon Colomba Copenhaguz Bablia Edinburgh Florence Салата

Monte Carlo

مائدة لا

Munich

outra

Polpin

Palermo

Rotterdam

Rome

Ebieghi

&logar

Flestate

Taormina VienDe Vendor Yokohama Zurich

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

All classes of Commercial Banking March Kransactions undertaken............

May

THE YOKOHAMA SPECIE BANK Personal Investment accounts July.

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, Yen.124,250,000 in addition, the world-wide services its thoroughly equipped Travel De- partment.

Reserve Fund.......

Head Office:-YOKOHAMA

Branches and Agencies at:

Bengtien (Mukden)

Nagasaki Nagoya

New York Osaka

Paria Pelping Rangoon Rio do Jenetro San Franciaco Seattle

Alexandria

Batavia

Berlin

Borbay

Calcutta

Canton

Dairen (Dainy).

Hamburg

Hankow

Harbin

Hong Kong

Honolulu

Brinking

Singapore Sperabaya Sydney

Karachi

Kobe

London Loï:"Angeles, Marija

Mojtak

Tientsin Tokyo

Tsingtao

Yingkow

allowed on CATENE - AD-

Deposita rocsired for axed park

raves to be obtained un apr

KISHINA

C. H. BENSON,

General Mansrer,

THE WING ON BANK, LTD, HONG LONG

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of every description transact- jedi

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

Safe Deposit Boxes (various area) for hire.

PHILIP GOGRGHIN

Chief MansFEE -

L GOCKCHIN

Assistant Manager-

LI SHU FONG Assistant Manager.

b-bid.

32.17 53.95 53.05n 53.85b53.70 54.45n 54.00

n-nominal.

U.S. FARM PRICE INDEX DECLINES THREE POINTS.

Washington, To-day-The Un- Ited States Department of Agri- culture has reported that the farm price index and the purchas. ing power of farm:products de clined three points during the month onded October 15-United Press per . E. Levy and Com- Ipany.

THE SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED,

(Incorporated in China).

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

$7,000,000. Capital Bavings Dept, $500,000. Reserve Savings Dept. $600,000. Head Office-Shanghai

A Bank having as its midaion the Industrial development of China and the fostering of her commer- cial relations abroad MANA Hong Kong office 7 Ics House Bt.

China Realties. Sh. $15. China Debentures $197 л.

Public Utilities, ·

Tramways, $19.85

C. Lights (old), $9 n.. C. Lights (new), $8.70 b. H.K, Electrics $88 n. Macao Electrics, $25 B. · Sandakan Light, 68 s. · Telephone (old), $23:15 b. Telephone (new), $10 n. China Buses, Sh. $18.20 n. Singapore Tractiona 4/3 b. Singapore Pref., $17/9 ́b.

Industrials.

Night Telegrams

Coincident with forecasts of an to be a depressing factor. The Win- nipeg market continues uncertain, early termination of the gasoline owing to the uncertainty regarding the price-war, the Atlas Pipe Line Canadian Government's intentions on Co. has restored the price of crude

trading,

the question of the regulation of wheat off to $1 per barrel. The Company Rubber prices are expected to open reduced the price from $1 to 60 bsharply lower in. sympathy with Lon-cents per barrel on October 23rd,

Malabon Sugars, $8.70_n. Cald: Macg. (Ord.), Sh. $21 n.. Cald: Macg. (Prof.), Sh. $20 n. Canton. Ices, $3. b. · Cements, $2.15 s. H.K. Ropes, $34. n.

Stores, etc. Dairy Farms, $23 n. Watsons, $52 n. Der. A. Wings, $1 n. Lane, Crawfords, $4 Mackintoshs, $21 n., Sinceres, $10 n. Wm. Powells, 70 cts. n. Wing On (E.K.) $110 n.

Miscellaneous. H.K. Amusements.. $4 m. Entertainments, 8771⁄2 n. S.C. Enterprises, $1 n United Theatres, Sh, #11⁄41⁄2 n. Macao "Greyhounds,” $2. n. Constructions (old), $1.80 n.s Constructions (new), 75 cts. b... Vibro Plling $6.60 .

CH-

In Cotton, textle reports are couraging, but the weakness of next season crop reflects uncertainty re-

(Continued on Fage 7).

garding the Government's plans. It THE ROMANCE OF

is thought, however, that the Adminis- tration will not abandon the market. Weather conditions are again mild But the market continues in a state of; dead-lock in clew of the tight "spo!" situation.

PUBLIC AUCTION

THE CUNARD LINE

(Continued from Page 8) .

SAVINGS

SAVE SOMETHING

START NOW UNDERWRITERS SAVINGS BANK

*

FOR THE FAR EAST,

INC.

Asia Life Buliding Hong Kong

Tel. 90284

XOXEXE×6×3×9X*

boats which can put out whatever the atmospheric disturbances; we

As yet it cannot work to schedule may perhaps see flying ships which which is easential for busi-will dwarf existing air craft. ness requirements and it is This launch of the Queen Mary too dependent on wind and wea-marks an era in the history of THE Undersigned-have received ther conditions. But the time transport; it brings to our minds Tinstructions, to sell by, Publie we may see flying-battle with the sea.

must come when these defects will new visions of passionate men ir

Auction

ON Saturday, the 3rd November, 1934, commencing at 11:30 am.

at their Sales Room,

4 Duddell Streëti!.! FIVE ALSATIÁN PUPPIES On view on day of sale Terms: Cash on Delivery-

LAMMERT, BROS., Auctioneers. Hong Kong, November 1, 1934.

Is It Insured? ?

Insurance Alf : Cinanes : LOWEST RATES American Asiatic Underwriters Fed, Ina, U.S.A General Agents

Head Office Ch. Govt. 5% 1925 G$Bds---87%.

17. The Bund H.K. Govt, 4% Loan 8% prem. 1. HK. Govt. 8%% Loan 2% prem. Shanghal

Wallace Harpers, §7% B.

* Offer

Anja Life Bulldog Tel. 20284

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

ICE HOUSE STREET, HONG KONG

80101 and 80103: