1934-11-09 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION,

Asthorland, Capital

lawed and Fully Paid-up Seres Tubi

* $50,000,000

24,000,000

Berling makmura

R 1.500.000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1858. BEAD OFFICE: LONDON

Reserve Liability of Proprietors $30,000,000 Paid-up Capital.

.HEAD OFFICE: HONAKONG,

BOARD OF DIRECTONS,

Uvp. Me, G. 0. B. Mackie

Chelated

1 31. H. 1. Thiel).

W. 1. Ball E-4.

Deputy Chairs,

a. 11. Coupon, kaq.

W.J. Kaewich, Seg

10. Kulabi, R.

AMOY

ANGKOR BATAVIA BUNDAY JALOUTTA

JANTOX

CHEPOO COLOMBO

DAIRIN

SOUCHOW

HAIPHONO

HAMBUR

BANKOW

BLARISIN

НОМСКИЯ

النمنا

TULOR

LOBE

LOWLOON

Amritsar

Bangkok Balavia

Roserve Fund

Reserve Liability, of Pro-

prietors

.23,000,000 23,000,000

£3,000,000

Agencies and Branchens

Aloe Blar

Holla

Rangoon

#pok

Belgon

Kareki

Bimwang

U. Miskia, Esq.

Klasa

.. Horn, Esq.

Bombay

Kobe

eq.

Colonia

Kuria

100

Gewapons

Kuching

Gaby

dram

Colocat

Maşila

Daikk

Keden

Tangka

Haiphong

How Tock

(hoker)

Hamburg

Palpink

Telcelan

ilacbow

1. B. Panzon,

V.16. Oraybura, ket,

Chal Manager.

LBANCHES-

LONDON LYONS STALACCA

MANILA

SUAL (fshore)

MUEDES

NEW YORK

PEILING

PENAM

RANDOOR

DAROUN

HAN FRANCISCO

XUALA LUMPUR

SILANDIAL

SINGAPORE COURADAYA

SONGEI PATANI

TIENTSIN

TUX YO TSINGTAO YOKOHAMA

Current counts opened in Looel Curranty and Fixed Deposit recived for one se shorter periods in Lost Company and Burling Leems which will be quoted on application. A Bau4. 18th Apríl 1231.

HONG KONG SAVINGS BANK.

The Bueless of the sbavy Blank is conduct by the HONG KONG ASD CHANGHAI BANKING CORPORATION. Mained application.

Rales may be

FOR THE HOSO EONG AND BILANGIAI BANKING CORPORATION

V. M. ORAYBUBN

Chlad Manager.

Hong Kong, toth February, 1994.

THE BANK OF EAST ASIA, LTD.

talkorisal Capital

Paid-up Capital

.......$10.000.000.00 *** &,898,609.06

Matt and Vedie:del Prufte,434,000.00

Li Lu

HEAD OFFICE:-HONG KONG

11, Da Varun noad Central,

BOARD OF DIRECTORS :-

Sle Shou-sou Chow, Chairman,

Chue, bag. F. K. Amph. Lay, Wang

Fun Tong, E. Chan Ching Hush, Esq. Id Lan Barq. Wong Chu Son, Esq. and San Ting M. Esq.

Ese Tong Po. Eng., Chip! Maangar.

Li Ye Fang. Eng. Manger.

BRANCHES AND AGENCIES:

ما ادعية

Sele

kmay

Batavia

Melbour

Bemering

Bombay

Nagh

bhangkai

sibula

New York

Blogapore

Danton

Quake

bourabaya

Haiphous

Pacin

Bwaly

Essbow

Prising

byd:ay

Hoselalu

Proang

Kobe Kowkon Loudon

Liesgoo

Blog

Talboby Ties fala Toky

Bag Franelas. VEGOONTI-

Yokohame

Brary description of Bunting and Ecklog business trausted. Loans graased on approvad

ecurities.

Current Accounts opened to Los Curmas

Fixed Deposit received for poe your or whorlar periode in Local and Foreign". Durrencial

ce which will be quoted on application. date Deposit Boxes To Let

KAN TONG PO,

Chial Manager. Hong Koog. Let, Marok, 1964,"

THE BANK OF TAIWAN, LTD. Head Office: Talhoku, Formous, Incorporated in Japan by Special Imperial Charter, 1899. Central Bank of Formosa, Notes

issued Average amount. Y45,000,000

Branches and Agencies.

Japan:--Kobe, Osaka, Tokyo, Yoko

hamr, Keilung, Makong, Nanto, Shoka, Shinchiku, Taichu, Tainan, Taito, Takao, Tamsui, Toen, Karenko Kagi, Heito, Giran.

China: Amoy, Canton, Foochow, Han-

kow, Shanghai, Bwatow Others:-Bombay, Hong Kong, London,

Liga prur

Вогатая Shangbai Slugspore Bilowan Bourabaya Taiping

L'akooribe

THE CHINA MAIL, FRIDAY, NOVEMBER 9, 1934

Commerce and Finance

LOCAL DOLLAR 'ADVANCES

Silver Prices Improve

The local dollar has advanced opening on demand this morning at 1/7.

Spot and forward silver prices. improved, closing yesterday at 23-9/16 and 23-11/16, respectively. The London on New York cross- which closed on Wednesday rate, at S-U.S.$4.99% closed yesterday at 2-U.S.45.002, while the New York on London rate closed at £-U.S.$5.00, as compared with

(Poxing) TORAGE.. Barbie Boog Koog

Foreign Exchange and Genura) Facklog bulsa Curtea cube opened sud Fixed Deposita' receive for nos year abortse periode at which will be quoted on appilonifon.

W. H. E. THOMAS,

Acting Manager.-U.S.$5.00%

▸

Hong Kong, 20th February, 1984.

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 Our New building is Specially Con- structed to provide all of these Im- portant Qualities.

tel.

AMERICAN COTTON CROP

Latest Voluntary Programme

NOTHING TO DO WITH THE BANKHEAD BILL

| SPECIAL TO CHINA MAIL. (Bu Telegraph, Copyright, Telegra

You may obtain a Safe Depositphie Messages Ordinance, 1895. Ee Box in this most up-to-date Vault for ceived November 9. 8.20 a.m.) your own use at a very moderate Ren- Inspection Cordially Invited. THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Street and Des Voeux Road, Central

Washington, To-day. Census estimates of the Amerl- can colton crop show 9,834,000 bales, an acreage of 27,241,000, a yield of 169.3 bales per acre, and ginnings at 7,920,231 bales.

It is learned that the cotton in- terests participating in the acreage: adjustment plan will be allowed to

THE BANK OF CANTON, LTD. plant an additional 6,000,000 acres

Established 1912.

Authorised Capital

.

in 1935. It is also learned that; the entton section of the Agricul- Head Office: Hong Kong.

tural Adjustment Administration $11,000,000 has recommended to the Secretary' Paid-up Capital ........ 8,655,000 of Agriculture, Mr Henry C. Total Resources

82,170,492 Wallace that the 1933 acreage) Branches: Canton, Toishan, Shanghat, Henkow, Bangkok & San Francisco.be reduced to 25 per cent, below London Bankers: Lloyds Bank, Ltd, the 1928-1932 average as compar and Banking ed with 40 per cent. at present, Foreign Exchange business of every discription trans-thereby making the acreages 31,- jected. ཀ ཙ ཏསྶ

*

000,000. Current Accounts opened and Fixed

Assuming that the non-co-opera- Deposits received for one year or

acres, the shorter periods at rates which will be tors: plant 2,000,000 quoted on application.

same as in 1934, it means that the Safe Deposit Boxes (various sizes) total of the 1933 acreage will be for hire.

$3,000,000, as compared with the present 27,000,000 acres, on which basis the yield will be 170 lbs., which will mean a crop of slightly more than 11,000,000 bales.

LOOK POUNG GHAN.

THE

Chlof. Manager.

AMERICAN EXPRESS COMPANT,

INC.

Head Office--65, Broadway, New York

Capital Surplus Reserves

.U.S.$6,000,000.00 2,087,112.69 1,095,328.81

Milan K Nico

BRANCHES:

Amsterdam

Sanon

Aztwerp

Glasgow

Athens

Napi

Amosa

-FLOTADA

Piraeus

Bealan

Hamburg „*

Berlin

Havre

Bombay

·Hatchelberg

Bremen

Calro

.' Interlaken

London

Jerusalem

Paris

Peiping Talering

Redber Bezoo Shipght Bouthampton Blogspo Tienie

Capes Colombo Copenhagen Ilablja Edinburgh Pla

· Larderne

Lugo Lukse

Taormin

Guneve

Monte Carla Manila Munlob Moetrouson

Vlanun Vasion Yotobacon

New York, Singapore, Batavia, Calcutta Liverpool Bamarang, Soerabaya, Dairen. On and after April 28th, 1984, the rate of Interest on Special Current Deposit will be at 1% pa on daily balance and the rate for balance over 810,000 will be quoted on applicatia (Maximum rate14).

T. OHNO,

Manager.

Hong Kong Branch

3. Des Voeux Road, Central

Zurlik

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

All classes of Commercial Banking Transactions undertaken.

Mr. Wallace will probably ac- cept the recommendation. Collapse Feared

Officials emphasize that the voluntary programme is based on acreage and has nothing to do with the Bankhead Bill, which is based, on baleage. They privately fear, however, that the voluntary pro gramme will collapse unless the Bankhead Bill is continued in 1935. Mr. Cully A. Cobb, chief of the cotton section of the A.A.A:, has! predicted that the south will vote to retain the Bankhead Bill.- United Press per S. E. Levy, and Company.

RAW RUBBER PRICES

Latest Quotations From

Singapore

Messrs. H. B. Joseph and Co. have, received the following Straite Currency quotations (Buyers) from

THE YOKOHAMA SPECIE BANK Personal Investment accounts Singapore for Raw Rubber.

LIMITED.

handled.

Established 1880

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, Reserve Fund

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

Head Office:-YOKOHAMA

Branches and Ageneles at: Alexandria Batavia

Berlin

Bombay

Daleutta

Canton

Dairen (Dalny)

"Nagasakių

Nagoya

New York Djaka

Parle

Peiping Rangoon Fengtien (Makden): Rlo da, "Jenelro

Hamburg

Hong Kong

Hankow

Harbin

Honolulu

Honking

Karachi

Kobe

London

Los Angeles

Manila

Moll

incurust allow

Deposita rocers

at rates to be obtain

San-Francisco

Seattle Semarang Shanghal

Singapore Soerabaya

Sydne

Tientsia

Tokyo Tsingtau Yingkow

C. H BENSON,

Jan-Mar. 23 down 2. April-June: 25 down 1⁄2 Market: DullAATEN

U.S. INDUSTRIAL TRUCE

New York, To-day-The Ameri- can Federation of Labour has ask General Manager, ed the General Motors Co. to con- for with members of the Union for the purpose of concluding an indus

Levy, and Company,

THE WING ON BANK, LTD. trial truce United Press, për S. E.

HONG KONG

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of every description transact- d.":"

Current Accounts opened and Fixed Deposits recolvad for one year or shor- tor period at rates which will be quot fed on application.

Safe Deposit Boxes (various sizes) for hire

Fen Umzaut And PHILIP GOCKOHIN

reriods Ication

Chlef Manager.

GOCKCHINAT Assistant Manager":"

Manager. Hong Kong, 11th September, 1984,

SO, LI: SHU-FOND, "Assistant Manager.

THE SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED, Ada Incorporated in China)

$5,000,000.

| Capital paid up?

Reserves.**.$7,000,000. Capital Bavings Dept. 8500,000. Reserve Bavings Dept. $800,000. Head Once Shanghal

A Bank having as its mission the Industrial development of China and the fostering of her commer-/- cial relations abroad, trans Hong Kong office 47 Its House St..

Phone #1461-3-3

LOCAL SHARES.

TO-DAY'S QUOTATIONS.

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

Banks,

H.K. Bank $1645 b., $1800 8. H.K. Bank (London), £134 n. Chartered Bank £16 n. Mercantile Bank, A. & B. £82 n. Mercantile Bank C. £13 n. Bank of East Asia, $99 n. Am: 0. Finance Corp., Sh: $20 m.) China O. Fin. Ord, Sh. 4 n. China O. Fin. Pref. Sh. 45 n. - Insurances,

Canton Ins., $285 8. Union Ins., $3520 n. China Underwriter,

$1.14/1.15 . China Fire Ins., $510 n: H.K. Fire Ins., $2371⁄2 . International Aasce. Sh. $8 n. Shipping.

NEW ACTIVITY

RESUMES ON

NEW YORK STOCK EXCHANGE

WALL STREETS. E. Levy And Co. And

RALLY EXTENSION EXPECTED

MOVEMENTS NARROW

A.O.F.C. Quotations

NEW

ADVERENTS

BANK HOLIDAY,

TN Accordance with Government Ordinance, the EXCHANGE BANKS will be CLOSED for the

The "following quotations from New York have been received by Messrs. Transaction of Public Business on 8. E. Levy and the American Oriental MONDAY, 12th November, 1984. Financa Corporation.

(Armistice Day).'?.

Hong Kong, 8th November, 1834.

New York, To-day. Wall Street was active and steady N.Y./London

Dec. Mar.

Last

Close 10.10 11.00

12.23

12.21 12.17

12.95

12.29 12.32

52.72

yesterday. Movement were narrow, NY. Cotton 5.0 5.00% apart from Allied Chemical and United States Industrial · Alcohol M. Silver Dec. 52.45 Issues, which advanced by more Mar. than one point. Brokerage com- NY. Silk Dec. 1.21 ments were cautious, but hopeful N.. Rubber

Dec.

both as regards increased activity and some extensio nof the rally,

53.45

53.50b

1.19b

Mar.

13.40 18.74

13.27. 13.80 13.62 13.72

C. Wheat Dec. 101

May

100%

100

BO

S. E. Levy And Company's Report C, Corn Bay 80% W. Wheat May 84%.

Auburn

80% 84%

37

25"

26% 20%

37 28% 26%

95%%

95

104 10

B

In their market report, Mesare. STOCKS: 8. E. Levy and Company, corres Amer Smelting 37 pondents for Messrs. White. Weld Con Gas NY, 27% 9514 Du Pont and Company, New York state:

that the Elec Bo & Share 10%. $1.10 b "Stocks: We think

new Congress will stimulate in- General Motors 30% 9% ¡Loew's Inc 31% flationary psychology and feel Int Tel & Tel that metal issues and commodi M. Ward 284 ties are likely to be again in fav-Nat Distillers 22%

840,000 N.Y. Central our. Business done: -

Standard Oil shares.

N.J.

Douglases, $41 n. H.K. Steamboats, 87% n. Indo-Chinas (Pref.), 380 n. Indo-Chinas (Def.), $38 n. Shell (Bearer) $44/41⁄2 n. Union Waterboats, $18% n.

Mining.

Antumoks, 60 cts. n. Balatocs, $37 n. Bagulo Gold, 46 cts. n. Benguet Consolidated $18.75 n. Benguet Exploration 18 cts, n. Benguet Goldfield, 20 cts. n. Big Wedge, 10 ets. n. Gold Creek, $2 m. *

Gold Rivers, 22 cts. n.

Ipe Mining $21⁄2 n. Itogans $6.30 n. Salacots 16 cts. D. Kailan, 20/7 n.

Langkats (Single) Sh. $171⁄2.n. S'hai Exploration, Sh. 85% n. S'hai Loans, Sh.$0% n. Raubs, $11.35 b.

Venz; Goldfield, $5.n.

Docks, etc.

H.K. Wharves, $107 b., $109 sa. H.K: Docks, $124 b. Providente (old) *$1.55. b. Providents (new), $50 cta. n. Hongkewa, (old) Sh. $815 n. y New Engineerings, Sh. $5% n. S'hai Dockey Sh. $128.

Cotton Mills.

were

"Bonds-United States Govern-U.S. Stect ment issues

up slightly: High grades have improved and Second- fractionally, were grades were unchanged,

(Continued on Page 10.) Latest Quotations

up

21

~

NOTICE.

“JIMMY'S KITCHEN”

S PROPRIETOR and LICENSEE of "JIMMY'S KITCHEN" of No. 1 ̊C, D'Agullar Street and of "JIMMY'S ANNEX” or China Building (West) opposite the Queen's Theatre, I HEREBY GIVE NOTICE that my RESTAUR-: {ANTS carried on by me at the sald addresses HAVE NO CONNEÇ- |TION, WHATSOEVER with 30% 30%JIMMY'S KITCHEN" of NOS: 142/44 LOCKHART ROAD, which. 31% 31% 29% 28% business was sold by me to the 23% 23

present proprietor thereof with the 21% 21%%%

right to use the name of "Jimmy's Kitchen" only a place or places east of Arsenal Street, Hong Kong,

Dated the 8th of November 1934..

AARON LANDAU.

42 42% 42%

344 39%

344

London Prices The following quotations from Lon- don were received last night between 6,30 p.m. and 10.30 p.m.

Silver Spot 23-7/16 (last close), |23-9/10 (last recd), 1/8 up (change),

•

BRITISH LEGION

TOTICE IS HEREBY GIVEN

Silver Forward 23-0/16 (last close), The following quotations have

28-11/16 (last recd), 1/8 up (change). HONG KONG & CHINA BRANCH

Silver Report: India bought. Offer- been received through Messrs. 3. E-

Market steady. Lavy and Company and the Ameri-ings small.

Gold 129/1-1/2 (last close), 139/2} Oriental Finance Corpora-

(last recd), 1/2d up (change).

London/N.Y. Selling Rate 5.00 (last vice will be held in St. Johns close), 5.00-3/4 (last recd), 3/4 up Cathedral on SUNDAY morning at (change).

|can

tion:

N.Y./London

Cross Rate

Nthat Remembrance Day ser

London/Paris Selling Rate 75.36 9.30 am. at which the Bishop of

This ser (last close), 76.09 (last recd), 13 up Hong Kong will preach.

vice will conclude: at 10.15 a.m. (change). 12.17

Liverpool Cotton-Mar. 6.44 laat A space has been alloted at the close), 6.54 (last reed), 10 up (change). Cenataph to the British Legion for

Liverpool Wheat-Dec. 5/0-1/4 (last) 52.65

close), 5/1-1/4 (inst. reed), id up the official ceremony and members. (change).

desiring to attend, are requested to London Rubber-Jan.-Mar. (buyers) assemble on the Hong Kong Club 6-1/2 (last close), 6-9/18 (inst reed), side: at:10.40 a.m.

New York, Yesterday,

Last To-day's Close Close

IN.Y. Cotton-Dec.

$5.00% 5.00 ... 12.23 N.Y. Rubber-Dec.... 13.40 Chic Wheat-Dec....101 Montreal Silver-Dec. 52.45 Chic Corn-Dec. Silver-Oficial

13.28 90%

79

78

53

534

To-day's

20 Utilities 19.79 19.53 .93.29 93.47 40 Bonds ... 11 Commodity

Index

58.91 58.50 17 Leading Stocks

30 Industrials 97.55 97.26. 129 off 20 Rails .... 35.84 35.43

41 off

.26 of

:18 up

41 off

6-9/16 (last reed).

Amer Can

(Dow Jones Avg.)

Nov. 7 Close Change

Amer Smelt & Ref

1/18 up (change).

London Rubber-Jan-Mar (sellers) An Invitation is extended, to all. 6-5/8 (last close), 6-11/16 (last reed). Ex-Service men to participate in 1/16 up (change).

both these Services of Reinen brance.

London Rubber at noon (buyera) |

London's Forecast,

A forecast from London on the Close probable trend of the New York mar 10214ket, states:-

36% The full effect of yesterday's election 111 results is likely to be felt at to-day's Afurther 25% session on Wall Street.

95

49% improvement in the commodity, mar- keta is looked for and Cotton may also, 9% react favourably, although the market 30% will probably open with a pre-Bureau

9 aspect.

Amer Tel & Tel

Auburn

J. I. Case

n.

Du Pont

n.

Elec Bond & Share

General Motors

Int Tel & Tel

45

2812

22%

21%

13%

103%

31

32

Ewo Cottons Sh.$10.15 a. S'hat Cottons (old), Sh. $77, S'hai Cottons (new), Sh. $46 Zoong Sings, Sh. $9.40 n. Wing On Textiles, Sh. $55 m.

Lands, Hotels, etc.. H.K. and S. Hotels, 4.60 b. H.K. Land, $50 b., $51 sa. H.K. Lande 4% Debentures 14%

prem' sa.

Shanghai Lands, Sh. $29 n. Metropolitan Lands, Sh. $14 11. Humphreys, $934 7

H.K. Realties, $431⁄2 m Asia Realties "A", Sh. $140 n. Asia Realties "B" Sh.120 . Chinese Estates, $90 n. China Realties, Sh. $15 China Debenturee Sh. $137 n.

Public Utilities,

D.

H.K. Tramways, $19.36 h. Peak Trams (old), $14_n. Peak Trams (new), $7 n. Star Ferries, $974 m. Yaumati Ferries $224 n. C. Light, (old), $8.80 b. C. Light (now), $8.55 b. H.K. Electrice $671⁄2 n. Macao Electries, $25 n. Sandakan Light; $8 s. Telephone (old), $28% n.. Telephone (new), $10 n. China Buses, Sh. $13.20 n. Singapore Tractions 4/3 b. Singapore Pret., $17/9_b.

Industrials. Malabon Sugara, $8.70 n. Cald: Macg. (Ord.), Sh. $21 n. Cald: Macg. (Pret.); 8h. $20 m Canton Ices, 88 b. Cements, $2.15 a. H.K. Ropes, $34 në:

Stores, etc.

Dairy Farms, $23 n. Watsons, 85% Der. A. Wings, $1. n. Lane, Crawfords;' $4 n, Mackintoshs, $21 n Sincares, $10 n. Wm. Powells, 70 ets. n. Wing On (HK) 8110 1.

Miscellaneous.

H.K. Amusements, $4 n. Entertainments, $71⁄2 D.- S.C. Enterprises, $1 n. Macao "Greyhounds," $2.n. Constructions (old); $1.80 n... Constructions (new), 75 cis. b. Vibro Piling $6.60 n.

McIntyre

Montgomery Ward Nat Distillers

N.Y. Central Socony-Vacuum Union Pacific U.S. Steel

West E & M

Business done:-840.000 shares.

BANK FAILURES

IN AMERICA

Lowest In 14 Years

SPECIAL TO CHINA MAIL.

(By Telegraph, Copyright, Talegra phic Messages Ordinance, 1884. Re

ceived November 2, 3.10. a.m.).

Washington, To-day.

WALL STREET HÁS

FAITH

Roosevelt Expected To Restrain Congress

SPECIAL TO CHINA MAIL-

(By Telegraph, Copyright, Telegra

THOMSON & CO., Secretaries & Treasurers, British Legion.

Hong Kong, 8th November, 1934.

“MIDDLE ROAD" PROGRAMME

Commerce Department. Pledge

UNEMPLOYED QUESTION

SPECIAL TO GHINA, MAIL. By: Telegraph, Copyright, Telegra← phic Messiges Ordinance, 1894, Re- ceived November 9, 2.20 am.)

New York, To-dey. Secretary Roper of the Depart-

phic Messages Ordinance, 1894, Rement of Commerce is apparently

ceived November 9,-8.20 am). ;

New York, To-day.

In spite of speculators' renewed Inflation hopes, Wall Street believes' that Fresident Roosevelt will be able to restrain Congress..

Favourable factors yesterday were

sounding a keynote after the Eelec- tion recovery drive.

In a speech yesterday he pledged "Middle Road" programme and said that care for the unemployed in the United States should be the immediate objective of the Ad- ministration.

Secretary Roper. further..said

It is learned that the Govern-that the "Iron Age" has predieted ment plans to finish the rehabilia continued increase in steel pro- tation of the banking structure duction, due to the demand from before deposit insurance becomes automobile manufacturers, and that that the present emergency activi the price of bulk gasoline in the ties "will gradually be retired as permanently effective in July.

High Government officials said Mid-West has advanced by 1% cent normal conditions are restored and businessmen and the Government that the bank failures so far in per gallon. 1984 were the lowest for the An unfavourable factor was that reasssume responsibilities." past 14 years, due to the improy-the French Cabinet crisis is in-

The Secretary, concluded by stat

ing financial conditions and the directly affecting the maintenance ing that the Government must en- liberal use of Government funds of the Gold Standard. United courage business profits.—United -United Press, per S. E. Levy Press, per S: E. Levy and Company. Press per S. E. Levy and Company. and Company.

PRESIDENTIAL VETO

WILLE STAND.

Washington, To-day-It is be- lieved that although the new Congress has powerful inflation] and bonus strength neither will pass over the Presidential veto.— United Press, per S. E. Levy and Company,

Is It Insured? ?

Ch. Gort 5% 1025 G$Bda. 87%. Head H.K. Govt. 4% Loan 84% prem

H.Kovt 3% Loan 8% rem.

4b4% prem, B Wallace Harpurs, $74 3

Insurance All Classes LOWEST RATES. rican Asiatic Underwriters

Fed, Inc. USA.

General Agents

ILE Oder: Asia. Life Building

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 YOIT

7 ICE HOUSE STREET, HONG KONG

and 80108

Tel Address: Belco