1934-11-02 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Khorised Capital $50,000,000 Jadawa 453 Fully Paidrup

Bowers Fundas-

Sterling eller d Kvetnobot gen

· THE CHARTERED BANK OF INDIA, AUSTRALIA' & CHINA,

Incorporated by Royal Charter, 1853.1 HEAD OFFICE: LONDON

smok

90,000,000

£ $300,000

Paid-up Capital

Reserve Fund

Haberra Edability at Proprimara ......$90,000,000

HEAD OFFICE: HONGKONG.

BOARD OF DIRECTUS.

Hon. Me. C. t. 8. Kackie

Chaleman,

4. EL. Dowls 'Baba qi

Dapsty Chairman.

Beserve Liability of Pro-

prietors

THE CHINA MAIL, FRIDAY, NOVEMBER 2, 1934'

Commerce and

Finance.

.£3,000,000 .£3,000,000

NEW YORK STOCK EXCHANGE

4

LOCAL SHARES.

Agencies and Branches:.

€3,000,000 S. E. Levy And Co. And

A.O.F.C. Quotations

Bangoon Halfon

Alor Blat

Ilolla

Amritsa

Ipok

Hangkok

Karachi

Bemarox

Mr. W. IL Bait,

U: Mickus, Eng.

Klang

temban

A JI. Compton, Eng.

K. B. Hurrison, Deg

Bocny

Hobe

Chonghal

*.7. Keswich, Bay.

T. E. Poston, Eng

Coleutia

Kuala

blogspora

Captoa

Lapur

Sitiawan

4. 6. Emight. Ear,

Cawagers

Kuching

Sabaya

Debu

Mad

Talplug

Colom

Manila

Thantin

Delhi

Madan

Touris

Naw York

(Bhuker

Kamburs

Palpica

1 lagleo

Hankow

(Pazing)

Yokshama

Hartla

Tenang

Vembongs.

AMOY

MANGKUK

BATAVIA

ANTON

QUEFOO QOLOMBO DAIREN

TUXE W

HAIPHONG

BAMBUR HAKKOW

HARDIN

BONⱭKLW

(LOILU

JAKOBR

LURE

7. M. Graybarn, Esq.

Calat Manager.

BHANCHES:-

LONDON

LYUNS

JIALACCA

BUNDEN

NEW YORK

PRIPING

PENASO RANDOOS

BAIGON

HAN FRANCISCO

KUALA LUMPUTA

BHANGHAI

БЕФАРОЦИ

SURABAYA

-HUNO PATANI

THENTETN

TOKYO

Halphons

Hong Kong

Foreign Exchange and Unnata! Braking buwissens transected.

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

THE BANK OF CANTON, LTD. C. Corn May

11 a.m. 407%

TO-DAY'S QUOTATIONS.

The following in the list of local aháre quotations issued to-day:

Banks.

H.K. Bank, $1640.b.

H.K: Bank (London), $139 n. Chartered Bank 216 n. Mercantile Bank, A. & B. £30% Mercantile Bank C. £13 n. Bank of East Asia. $93 . Am: 0. Finance Corp. Sh. 420 m. China O. Fin. Ord., Sh. $4 n. China 0. Fin. Pref. Sh. 16 a.

+

Last

10.10 Clase IN.Y./London · 4.97 407

N.Y. Cotton

MINDAY

MANILA

DALOUTTA

ALLAR [Johor)

Dec. Mar.

12.16

12.00

12.07

12.20

12.14

12.14-

Outrag) dodante opsoed and Fixed Depot mostred for a year or shorter periods as "raten: which will be quoted on application,

M, Silver Dec. 32.17

Mar W. H. E. THOMAS,N.Y. Silk Dec. 116

Acting Manager. N.Y. Rubber Hong Kong, 20th February, 1934.

52.25

62.15b

53.05

GR.25

53.10b

11614b

Insurances. Canton Ins., $285 n.

1

Dec. Mar.

12.01

12:85

13.02

18.27.

13.35

Union as $515 b., 8526 s. China Underwriter, $1.10 b.

C. Wheat Dec. 93.

May.

96%

China Fire Ins., $510 n.

94%

95

77

77

W. Wheat May 80

80%

H.K. Fire Ins., $2871⁄2 n. International Assce. Sh. $8 mi

STOCKS:-

Amer Smelting 34% Auburn

35.

23

23%

Douglases, $41 n..

251

25%

9214

19%

287

2016

9%

21%

21

221

40%. 31% 32

41

31%

London Prices

KOWLIN

TRIMITAD

YOKOHAMA

Current Amounts opened la 'Local Currpacy

Fixed Deposit received for one

whertar periods to Local Company and Berling isma ebich will be quoted on application. * Klick Apell, 1984.

HONG KONG SAVINGS BANK.

The Busions of the above Bank la conduet.

od by the HONG KONG AND BANGHAI BANKING CORPORATION.

walsiped on appletion.

Bules may be

Established 1912.

Head Office-Hong Kong.

Authorised Capital ... $11,000,000 Con Gas A.Y. 20 Paid-up Capital

8,855,000 Du Font 924 Total Resources .....

82,170,492 Elec Bo & Share 9% - Branches: Canton, Tolshan, Shanghai, General Motors 29 Hankow, Bangkok & San Francisco. Int Tel & Tel 3 London Bankers: Lloyds Bank, Ltd., Loew's The 2912 Foreign Exchange and Banking Montgomery W. 21 business of every discription trans-Nal Distillers.21%

¡N.Y. Central. Current Accounts opened and Fixed Standard Oil

NJ Deposits received for one

acted.

year or

MR THE HONG KONG AND SHANGHA! shorter periods at rates which will be U.S. Steel SANKING CORPORATION

V. M. GRAYDUAN,

Chief Yonght.

Hang Bugih Pabruary, 1984.

THE BANK OF EAST ASIA, LTD.

Leskorized Capital

-$10,000,000.00 1,599 6.0 up Capital Move and Undivided Proßts 4,104,000.00

HEAD OFFICE:-HUNG, KONO

13. Das Vaux Bond Centra

BOARD OF DIRECTOR-

Yu Sho- Chon, Chairmin

u Kook Chun, E. P. K. Kwok, Esq. Work Ius Tong. Bag, Chan Ching Shel. Esq. i Lan Jang, Eey, Woog Che bon, Eng. soi Xan Ting

Ku Tong Po, Eg.. Cilet Manager.

Li Los Fong, Esq., Kanger.

BRANCHES AND AGENCIES:-

Heril

BAMTLE

Surve

Semarang

Bourty Dajarila

Nagasaki

Shangbai

New York

Hingapore

Surabaya

Alshong Hankow Heavil Robe

Landoa

Parks

Priping

Po

Н

Bagdo

Bwblow ondary Takboku Transain Toky

Vagues

San Francisco.

Eray descriptios of Beaking And Erakunge Loans granted an approved, berlin trecanėles, securities.

Lal Duti

Aceasta opnand la

Depuis cosired for

- periods in Local and Foreign Curresoles

an Leeson which Bl be quoted on application.

Ante Deposit Botes To Y

2.

KAS TONG PO.

Hong Kong, "it Starch, 1964.

Chit! Singer.

THE BANK OF TAIWAN, LTD.

Head Officei-Taiheku, Formosa, Incorporated in Japan by Special Imperial Charter, 1899.

Central Bank of Formosa, Notes

lasted Average amount Y.45,000,000

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

quoted on application.

Safe Deposit Boxes (various sizes) for hire.

LOOK POONG FIIAN,

Chlet Mannt.

SAFETY FIRST!

To Safeguard Your Valuable

and Jewelleries,

Deposit them in a Vault

that is really: FIRE PROOF BURGLAR-PROOF

DAMP PROOF!

OUR SAFE DEPOSIT VAULT

The following quotations from Lon don were received last night between 5.30 and 19.30 p.m.

Silver Spot 23-3/8 [last close). -1/2 (last record), 1/8 up (change). Silver Forward 23-7/15 (last close), 23-5/8 (last record), 3/18 up (change), Silver Report: Speculators bought.

Market steady. Offerings small.

Gold 139/7 (last close), 129/10 (insi record 34 up (change),

London/N.T: Selling Rate 4.97-3/4 (last clase), 4.97-13/16 (Inst record), 1/16 un (change),

London/Paris Selling Rate 75,50

(last close), 75.33 (last record), .03 up (change),

located on the Mezzanine Floor. of Liverpool Cotton-Mar. 6.55 (last Our New building to Specially Con- close), 6.55 (last record), unchanged structed to provide all of these Im-(change). portant Qualities.

Liverpool

Whent-Dec. 4/10-1/2 (last close), 4/11-1/4 (lust record), 3/4 up (change).

You may obtain a Safe Deposit| Box in this most up-to-date Vanlt for London Rubber-Jun.-Mar. (buyers) your own use at a very moderate Ren-5-1/2 (last close), 6-9/18 (last record). tai

1/16 up (change).

Inspection Cordially Invited.

THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Street and,

Don Vaeux Road, Central

Į

THE

London Rubber-Jan.-Mar. (sellers) 6-5/8 (last close), 6-11/16 (last re- cord). 1/16 up (change),

London Rubber at noon (busers)] 6-7/16 (last record).

Latest Quotations

The following quotations have been received through Mesara, S. E AMERICAN EXPRESS COMPANY, Levy and Company and the Ameri-

INC.

Head Ofce:-65. Broadway, New York

Capital Surplus Reserves

can

tion:

Oriental Finance Cornera-

N.Y./London

New York, Yesterday.

Last To-day's Close Close

Shipping,

H.K. Steamboats, $71⁄4 ¤. Ipdo-Chinas (Pref.); $30 m. Indo-Chinas (Def.), $38 n. Shell (Bearer), 45/71⁄2 n. Union Waterboats, $18 m.

Mining.

Antamoks, 60 cts. n.

Balatoes, $87 n.

Baguio Gold. 46.cta. n. Benguet Consolidated

MARKET STEADY

BUT SLUGGISH Slight Improvement Expected

FRACTIONAL GAINS

New York, To-day

LOCAL DOLLAR ADVANCES

Silver Prices Rise

The local dollar; has advanced

NEW ADVERTISEMENTS

NOTICE

opening on demand this morning at BRITISH-AMERICAN TOBACCO 177.

COMPANY (CHINA) LTD.

Spot and forward silver prices BRITISH CIGARETTE COMPANT advanced and 3/16, respectively;

WINNIPEG WHEAT PRICES

Big

The market was sluggish but closing prices yesterday being 23% steady yesterday, with minor and 23%, respectively;

about evenly The London on New York cross- fractional gains divided. Some alight improvement, rate, which closed on Wednesday at generally, is expected in a con- £—U.S.$4.974, closed at tinued dull and colourless market. U.S.$4.98 yesterday, white the New S. E. Levy And Company's Heport York on London rate closed at In their market report, Messia.{£-U.3$4.981⁄4,`as compared, with n.jS. E. Levy and Company, corres- S-U.S.$4.9734.

pondents for Messrs. White. Weld and Company, New York state:

"Stocks: The market was ex-|| tremely dull, but a little firmer. We expect little change in condi- tions for the present. done-540,000 shares.

"Bonds: - 'High-grades

SPECIAL TO CHINA MAIL. pulled down by U. S. Government)

(By Telegraph, Copyright, Teldera |issues which were off half a point.[phie Messages Ordinaner, 1891. Re-

Second-grades were better at the ceived November 9, 535 a.m.)

Winnipeg, To-day close..

Winnipeg wheat prices are to be "Graine:-While the rally is ex pected to carry further, we would pegged henceforth, the minimum advise caution against bulge buy-for December being 75 cents per ing until the foreign grain' situa- bushel and for May, 80 cents. tion is clearer. Total sales: The action followed the Govern Wheat:-23,572,000 bushels; Corn: mental request for an order to pre- vent outsiders from depressing -10,436,000 bushels.

Business

were

Pegging Announced

"Cotton: The weakness of new prices. crop options is influencing much), Arrangements have been com Ilquidation and is discouraging pleted under which a Government

agency absorbs hedges In grain pur buying.

"Rubber. - Nervous selling is chased from farmers in western subsiding. The low October ship. Canada, thereby ensuring a market 41 ments of rubber from Malaya are for producers and enabling elevator impressive and we believe that operators to function normally.- ap- United Press, per S. E. Levy and promising buying levels are [proaching. Total sales:-452 lots." Company.

Reuter,

cts. n. Subdivided, Benguet Exploration 18 cts. n. Benguet Goldfield, 20 cts. n. Big Wedge, 10 cts. n.

Gold Creek, $2 m. Gold Rivers, 22 cts. n.

Ipo Mining $2% n.

togans $6.30 n.

Salacots 16 cts. 0. Kailan. 22/6 n.

Langkats (Single) Sh. $171⁄2 n. S'hai Exploration, Sh. 361⁄4 a. S'hai Loans. Sh.361⁄2 n. Raubs, $10.75 b.

Venz: Goldfield, $5 n.

Docks, etc.

H.K. Wharves, $107 b. H.K. Docks, $12 b. Providents, (old) $1.55 b., $1.60 aa: Provident (new), $50'cts. n. Hongkew's, (old) Sh. $315 n. New Engineerings, Sh. $5% n. S'hai Docks, Sh. $1271⁄2 n.°

Cotton Mills.

Ewo Cottons Sh. $10% s. S'hai Cottons (old), Sh. $75 4.

S'hai Cottons (new), Sh. $48 n. Zoong Sings, Sh. $9.40 n. Wing On Textiles, Sh., $55 a.

Lands, Hotels, etc.

a.

K.K. and S. Hotels, $43⁄41⁄4 s. - H.K. Lands $511⁄4 b, $512/4 H.K. Lands 4% Debentures 2%

prem, n.

Shanghai Lands, Sh. $29 n.

Metropolitan Lands, Sh. $14 n. Humphreys,. $10 n.

.U.S.$6,000,000.00

Cross-Rate

4.07% 4.93

2,087,112.09

1,095,528.81

N.Y. Cotton-Dec,

12.15 12:02

N.Y. Rubber-Dec.... 12.91

13.16

Chle Wheat-Dec.

25%

97%

H.K. Realties, $4% n.

BRANCHES:--

Chic Corn-Dec.

76

774

Amsterdam

Ganon

Dingow

Milpa

•Nic Naples

Montreal Silver-Dec. 52.17

52.40

Silver-Offelal

524

53

Asia Realties "A", Sh. $140 a. Asia Réalties "B" Sh.$20 n. Chinese Estates, $90 m.

Аиция

Havane

Piranice

Bealme

Hamburg

Paria

kow, Shanghai, Serator. Others:-Bombay, Hong Kong, London,

China:Amoy, Canton, Foochow, Han-Berlin

Boraba

Envio Heidelberg'

Brezan

Brisola

J

Calro

Loafe

Calouste Саим

3, Des Voeux Road, Central.

Interlaken

.:

Pathin

l'aferma

(Dow Jones ATE)

To-day's

30 Industrial 98.36 93.40 .10 up. 20 Ralls ... 34.78 24.26 ,52 off

China Realties, Sh. $15% n.

Public Utilities,

H.K. Tramways, $19.65 n. Peak Trams (old), $14 n. Peak Trams (new), $7 n. Star Ferries, $971⁄2 m.

Betlerdata

Re

20 Utilities. 19.17 19.04

.13 off

Shoghe

40 Bond:

93.26.03.18

.10 off

Gipp

11.Commodity

Monte Carls

Manila

Tiental Taormina Vien Vantee Tokobama Eurtch

Index 56.82 57.12

.30 up

17 Leading Stocks

Yaumati Ferries $22 b.

Close

Amier Can

100%

C. Lights (old) $8.90 n.

Amer. Smelt & Ref Amer Tel & Tel Auburn

84

C. Lights (new); $8.70 r.

109%

H.K: Electrics $68 ̊ n.

2346

Macao Electrics, $25 n,

45%

91%%

Sandakan Light, $3 8.

94

29

D

43

27

22

2934

13%

99%

314

30%

Malabon Sugars, $8.70` n. Cald: Macg. (Ord.), Sh. $21 n. Cald: Macg. (Pref:), Šk. $20 ̄n

Business done-540,000 shares.

Canton Ices, $3 b.

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

On and after April 20th, 1984, the on Special Current rate of Intercat Deposit will be at 15% pa. on daily balance and the rate for balance over $10,000 will be quoted on application (Maximum rate—1).

Y. ORNO,

Manager.

Hong Kong Branch

THE YOKOHAMA SPECIE BANK LIMITED.

Celoosh Copenhagen Dublin Edinburgh

Gindek

Liverpool Luverne

Lugnoo Luxor Staresillos

Munich

Montrou

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

Elec Bond & Share General Motors All classes of Commercial Banking Int Tel & Tel Fransactions undertaken.

Melntyre: Montgomery Ward. Personal investment accounts Nat Distillers

IN.Y. Central {Socony-Vacuum-" The Company offers to intending Union Pacific.

|U.S. Sisol Travellers the use of its "Travelers Capital (fully paid-up) Ten.100,000,000 Cheques" sort Letters of Credit and West E & M Reserve Fund

Yen.124,250,000 in addition, the world-wide services

of its thoroughly equipped Travel De partment.

bandled

Established 1890

Read Office:-YOKOHAMA

Branches and agencies at:

Alexandris

Batavia

Berlin

Bombay

Nagasaki Nagoya New York Osaka

Calcutta

Paris

Canton

Peiping Dairen (Dalny)

Rangoon (Mullen) Rio de Janeiro-

San Francisco Seattle

Hankow Harbin

Hong Kong

Honolulu Hainking. Karachi

Kobu

London

Los Angeles

· Manila

Moji

Semarang

Shanghai Singapore Soernbaya · Sydney Tientsin

Tokyo.

Tsingtan

Yingkow

Interset allowed, on Charent An-

Deposita received for fixed perioda

C. H. BENSON,

General Manager,

THE WING ON BANK, LTD.

:RONG XONG

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of every description transact ed.

GOLD IMPORTS `SOAR IN AMERICA

New York, to-day Gold · im- totalled ports during October U.S.$6,859,900, as against U.S.$115,-| 600 during September. United Press per S. E. Levy and Company,

THE SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED

(Incorporated in

China)

Current Accounts opened and Fixed Capital paid up $5,000,000 Deposits received for one year or shor-||| Reserves 4 A10 $7,000,000. ter period at rates which will be quot-Capital Savings Dept. 1500,000. ed on application,

Reserve Savings: Dept. $500,000.

Safe Deposit Boxes (various mixes)!

for hire

PHILIP GOCKCHIN. Chier Manager

t:rater to be obtained on application. L. GOCKCHINA C

CK KISHINAMI,

Maziger.

Hong Kong 11th September, 1084

Assistant Manager

LIBHU FONG “Assistant Manager,

"Head" Offles---Shanghai

A Bank having as its mission the industrial development of Chizm and the fostering of her commer- ciál relational abroad:fals -Hong Kong fles -7 Ics House Bt. Phone 31481-2-9.

Telephone (old), $23.15 b.

Telephone (new), $10 n. China Buses, Sh. $13.20 n. Singapore Tractions 4/8 b. Singapore Pref., $17/9 b.

Industrials.

Cements, $2.15 s. HK. Ropes, 3⁄41⁄44 n.

Stores. etc. Dairy Farms, $23 u. Watsons, $51⁄2 11: Der. A. Wings, $1 n. Lane, Crawfords, $4 n. Mackintoshs, $21 n. Sinceres, $10 në Wm. Powells, 70 cts. n.° Wing On (HK) $110 m.

Miscellaneous. H.K. Amasements, $4... *Entertainments, $71⁄2 n.

3.C. Enterprises, $1-n United Theatres, Sh, $14 n. Macao "Greyhounds,” $2 'n Constructions (old); $1.80 n. Constructions (new), 75 ctab

- Vibro Piling $6.80 n. 27/

Ch. Govt, 5% 1925 GSBds--87%

Market Factors

The following telegrams were received by Messrs. S. E, Levy & Co. from Reuter:

(Continued on Page 10.)

BANKING SOUND IN AMERICÀ

Encouraging Report In Journal INFLATION OBSTACLE

SPECIAL TO CHINA, MAILA

TREND OF WHEAT

PRICES

Dependent In U.S. On Argentine Exports

SPECIAL TO CHINA MAIL. (By_Telegraph, Copyright, Telegra. phic Messagez Ordinance, 1896, Re- ceived · November 3, 5.45 am)

beg

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 ·

but that they will continue to trade in Hong Kong, Macao and Kwong Chow Wan, under their own names exactly as In the past.

BRITISH-AMERICAN TOBACCO

COMPANY LTD, LONDON.

.. and

YEE TSOONG TOBACCO* COMPANY LTD.

also. announce that they have appointed

·YEE TSOONG TOBACCÒ DISTRIBUTORS LIMITED.

to be their Sales Agents in China, with effect from this date.

November 1st, 1934.

THOMAS'S MONEY BILLS

Three Planned For Next Congress

SPECIAL TO CHINA MAIL. (Bu Telegraph. Copyright, Telegra phic Messages Ordinänes, 1804, Re- ceived November 2, 5.35 m.)

New York: To-day. Senator Thomas, of Oklahoma,

Washington, To-day, yesterday said that he intends to The Bureau of Agricultural introduce, firstly, a Bill recom·· Economics states that the trend of mending Government ownership of wheat prices in the forthcoming the Federal Reserve; secondly, a months will depend largely on the Bill devaluing the dollar to the rate of shipment from Argentina full limit; thirdly, a Bill retiring (By. Telegraph, Copyright, Telegra and the extent of the whent useable nine varieties of currency and the phic Messages Ordinance. 1994; Kelas feed:""

issuing at one kind of paper money Fecived November 2, 5,25 am)

The Bureau indicated the bellef against metallic reserves. New York, To-day that domestic prices will increase

"I can, force devaluation of the The American Bankers' Associa-j tion review, "Banking," states that the current banking business situa-| tion in the United States is the of foreign markets due to large clarcd.-United Press per S. Er

Argentine shipments and cheap Levy and Company. soundest for three years.

•

and declared that the recent domes-dollar and will do so regardless of tic decline was due to the weakness the President's attitude," he 'de

"Probabilities indicate that the French wheat United Press, per

S. E. Levy and Company. Government will follow, as conser-

vative a policy in monetary matters

as political exigencies will permit," it states.

"We do not believe that the Pre

sident will raise prices. via mone-

BANKERS' LINK WITH ADMINISTRATION"

New York, to-day-The Invest-

tary manipulation. The fear of ment Bankers'. Association has ap

RAW RUBBER PRICES

|Latest Quotations From Singapore

Messrs. H. B. Joseph & Co. have the following

Inflation will gradually, be allayed, pointed a Committee to co-operate received

Straits

but meanwhile it is a definite ob- with the Administration in order to Currency quotations (Buyers) from stacle to recovery and financing," spur recovery through the opening Singapore for Raw Rubber. -United Press per.S. E. Levy and of a new capital market.-United Company.

MORE OPTIMISM

NEEDED

U.S. Market Exports Déplore Attitude

· INDEFINITE” TREND

SPECIAL TO CHINA MAIL (By Telegraph, Copyright, Telegra ohio Messages Ordinance, 18. Bm ceived November 2, 545 oun.)

New York, To-day.

Press per S. E. Levy and Company.

AMERICAN STEEL MILLS SEE INCREASE

Jan.-Mar. 24 unchanged. April-June 25% unchanged. Market Steady.

New York, to-day-Steel mills Is It Insured? are reputed to be purchasing scrap

steel in anticipation of an increase | lin production-United Press per

S. E. Levy and Company.

HUEY LONG PROJECTS BONUS BILL

New Orleans, To-day-Sena-

Insurance All Chica

LOWEST RATES

American Asiatic Underwriters Fed. Inc, U.S.A, General Agents.

Head Office

The noted economist, Mr. Roger tor Huey Long has announced 17; The Bund Ward Babson, states that the that he will introduce a bonus Shanghai market has fully discounted the Bill at the next session of Con- current economic situation.

Standard Statistics states: "Recent developments justify a morê optimistic attitude in the entire security market prospect. New York stock market. is in- definite. Favourable factors yes- terday were the increase in selective buying and the con- tinuance of good retail trade re-7 !ports.

Unfavourable factors were that traders are worried regard- ing legislation at the forthcom ing Congress, and the uncertain- ty. prevalent in most of the com modity markets-United Press, per S. E. Levy and Company

VAST INCREASE IN-BANK":

DEPOSIT DEMAND

New York, to-day-The Federal Reserve Board has reported that member banks net demand for de-

H.K. Govt, 4% Loan 8% prem. n. posits has increased almost U.S.84, HK Govt. 82% Loan 2% 000,000 since the Bank holiday.

prem, by

Wallace Harpers, 87% nộ?

last year United Press per S. E. Levy and Company.”

[gress.

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 ME

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

TICE HOUSE STREET, HONG KONG

30101 and 80103

?

HLY Offer. Asia Life Building Tel. 30784

Tel Address: Belco