1934-12-04 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Kalkbriked Capital 50,000,000 insed and Fully Paid-up 20,000,000

Bonocer Funda ; —

Barling

£6,500,000

Millətmir $10,000,000

Thenorte Lisbility of frapeiators 920,000,000 HEAD OFFICE, HONGKONG:

BOARD OF DIRECTORS, How. Mr.'0, d. 8. Msakie Chetron,

Hich 3, 2, 3. Dilwall,

Deputy ChairnDA.

W, 11. Ball. Faiza

H. Compiga, kmp W. J. Kalet, Kay. .fl. Xaight, Eng.

AMOY LANGEUS

BATAVIA

BOMBAY

CALQUILA DANTON

OLEPUO COLUMBU DAIREN PUDELIUW**

HAIRUIGING HAMBUR MANKOW

HARBIN

HONGKYW

ILOILO

trog

закове

KORK

KURLAUS

Y. M.

THE CHARTERED. BANK OF INDIA, AUSTRÁLIA & CHINA.

Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON Paid-up Capital

Reserve Fund

Reserve Liability of Pro

prietors ....

£3,000,000 €8,000,000

23,000,000

Agencies and Branches:

Alor Biar

follo

Irak

Никол

Bangkok

Karachi

Remarad

U. Miskin, Eng.

Balaria

Klaat

Beremben

K. H. Morrissa Eag

Rembar

Koba

Shangbai

Caloutia

Kunis

Singipes

Canton

Lumpar

Buoblee

Deb Dela

Kadros

Taiping

Colomba

*Tantula

Haden

Tregtar

Haiphong Hamburg flaBhow

New York

(Easter)

Priping

Telagte

Pextugi

Yokohama

Harble

Zamboanga

3. E. l'ence, eg,

Orayburn, hee- Chief Manager.

BBANCHES-

LONDON

LIONS MANACCE

MANILA

MUAR (June)

MURDEN

NEW YORK

PEIPING

PENAKO

KANGOUR

BAIGON

BAN FRANOIBCO

KUALA LUMPUR

SHANGHAI

SINGAPORE

MONTRADAYA

BUNURI PATANI

TIENTSIN

TUKYU

TNINGTAO

YOKOHAMA

Cute Accouda opened in Ioo-Curray ad Fized Deposion received for one year or shorter periods in Local Company and sterling

Surt wlach wilḥ be quoted in application. Hoar Keur. (và April 14,

HONG KONG SAVINGS BANK.

The Busines of the above Dank is conduct sẻ by the HONG KONG AND. SHANDIA

ANKING CORPORATION. Bules may ba ekleined un application.

FOR THE HONG KONG AND SHANGHAI

V. M. GRAYBORN,

Chial Manger,

BANKING CORPORATION

Hong Kong, th Pabrukɛy, 1984.

THE BANK OF EAST ASIA, LTD.

Bathorised Capital

......$ 17,000,000.00

...$ 4,50,dod ̧t.

Hoor Roo

530

BILGAA Bourabaya

Forst Exchange and Dancral Beating budams

tranesched

Curreal Accounts opened and Fixed Depoalta received for one year or shorter perioda st vales: whlok will be grated on application.

W. H. THOMAS,

Acting Manager. 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

THE CHINA MAIL, TUESDAY, DECEMBER 4, 1934

Commerce and Finance

LOCAL DOLLAR STEADY

Silver Prices Advance

The local dollar remains steady, opening on demand this morning at 177%..

Spot and forward silver prices advanced 1/16, closing to-day at 24.11/16 and 24.13/16, respectively. The London on New York cross-

Closed yesterday rate

at U.S.$4.9574, us compared with £- U.S.$4.97% on Saturday.

The New York on London rate was quoted at £-U.S.$4.95%, as Ingainst U.S.§4.07% on Saturday.

EQUALITY ON THE EXCHANGES

Placing Buyers On

Equal Terms

SPECIAL TO CHINA MAIL..

New York, To-day. The Securities Exchange Com- located on the Mezzanine Floor of mission is satisfied with the pre- Our New building in Specially Con-sent law, therefore, vital changes structed to provide all of these Im- are unlikely. partant Qualities,

tel

It is learned that a number of Box in this most up-to-date Vault for reveal violation of the law.

You may obtain a Safe Deposit wide stock movementts failed to

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

serva and Undivided Pro 1,44,000.00 THE BANK OF CANTON, LTD.

HEAD OFFICE:-DONG KONG

11, Des Vous Road Central,

BOARD OF DIRECTORS—

Bir Shou-san Chow, Chatresat4,

La Xoan Chun. Esq., P. R. Iwok,

Jus Toog. Kay. Chấn Cḥlug Shah, Esq,""

Bang Eeq., Wong Cha Sou, Paq, and Kan

Ps. "Log.

-

Be Tong, Faq.. Chial Manager.

Ll The Fong. Esq., Manager.

BRANCHES AND AGENCIES:-

Manifa

Sim

Bateria otabe Celestia

Mabout

Semarang

Sugonakl

Bhanghai

Say York

Bagapore

Unaka

Болговата

Malphag

Ferie

Sustow

Hachow

Nydney

Poung

Talkin

Kole Kowloon

Кадрова

tial you

Tokyo

Gendon

San Francisco

For

Yokohama

Honolulu

Felying

Established 1812.

Head Office: Hong Kong,

Wong Authorised Capital

Lab

Ting Paid-up Capital

Braydenpion of Backing and. Esohaugs blogs, traurected. Lots grated on approved;

puchia.

Current Apunte opoveć 19

Laut Currana

Fixed Depot incived for one you? a shorter periodi in Local and Foreign Currencies

$11,000,000 8,855,000 Total Resources

82,170,192 Branches: Canton, Tolshan, Shanghai, Hankew, Bangkok & San Francisco. London Bankers: Lloyds Bank, Ltd.,

Foreign Exchange and Banking business of every discription trans- Ected.

Current Accounts opened and Fixed Deposits recetred for one year or aborter periods at rates which will be quoted on application,

Safe Deposit Boxes (various algas) fr hire.

LOOK POONG DAN.

Ohiat Kangar,

THE

The Commissioners intend to promulgate any necessary regu-| lations to place exchanges on 3 purely auction basje. all buyers being on equal terms.

They do not expect, however, to achieve stability of security prices. United Press, per S. E. Levy and Company.

BRIGHTER OUTLOOK FOR STEEL

Wall Street Cheered By Prospect

SPECIAL TO CHINA MAIL. By Telegraph, Copyright, Telegra› phio Mesenges Ordinance, 1891. Re ceived December 4, 2.54 a.m.)

New York, To-day. The steel outlook has cheered} Wall Street.

Youngstown production. this! week will be 37 per cent of capa- city, the highest since June, and the best corresponding week for

arm which wil be quoted on application. AMERICAN EXPRESS COMPANY, three years.

KAN TONG PO,

Bala Deposit Boxes To La

Chief Hangst.

Hong Kong, los Marah, 1994,

issued Average amount .45,000,000 Am

Branches and Agencies,

INC.

Head Offee-65, Broadway, New York

.U.S.$6,000,000.00 2,087,112.69 1,995,528.81

THE BANK OF TAIWAN, LTB:

Capital

Head Office:-Taihoku, Formosa, Incorporated in Japan by Speciál Imperial Charter, 1899.

Surplus

Reserves

Central Bank of Farmoss, Notes

BRANCHES:-

Antvary

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

bama, Keelung, Makong, Nanto, Shoka, Shinehiku, Taichu, Tainan, Ba Tallo, Tukao, Tamsui, Toen, Karenko,

Gigaw Нагада

Hamburg

Beraber

Натре Huldalborg

Brampa

Kagi, Helto, Giran.

Bruneta

China-Amoy, Canton, Foochew, Han- | | Caleo

kow, Shanghal, Swatow.

Caloutta

Canpar Colombo

Luteriakad Jerusalam London Idvarpeal Lucario Lupine

Milta Kice Kaples Piraeus Paris Potpi Palarma Hetlarda Bams Bhung

Jubila

Edinburgh Find Спать

LULO

Monte Carit Malla

Singapor Teadu Termina

Vlogna Venice Tukobama Zurich

-------

Others: Bombay, Hong Kong, London,

New York, Singapore,Batavia, Copenhagea Samarang, Sourabaya, Dairen. On and after, April 20th, 1934, the rate of Interest on Special Current Deposit will be at 1% pa on daily balance and the rate for balance over| $10,000 will be quoted on application|

Maximum rate-1%).

Hong Kong Branch

Y. OHNO,

Manager,

3. Des Voeux Road, Central

2

Munich Montreux

Southampren

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

All clanes of Commercial Banking Aransactions undertaken..

Personal investment accounta

THE YOKOHAMA SPECIE BANK handled.

LIMITED.

Established 1880

The Company offers to Intendiog

LOCAL SHARES.

TO-DAY'S QUOTATIONS.

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

Banks

The magazine, "Steel" estim- ates national production at 28 per cent. of capacity, which is up I per cent. The settlement of the Russian debt should increase: exports, the journal comments. United Press. per S. E. Levy and Company.

RAW RUBBER PRICES

Latest Quotations From Singapore

Messrs. H. B. Joseph, & Co. have received the following Straits Cur- rency quotations from Singapore for Raw Rubber:

Jan-March-21 % down 4. April-June-28 % down 4.

Market:-Quiet.

H.K. Bank $1000 b..

H.K. Bank (London), £185% Chartered Bank £16% n. Mercantile Bank, A. & B. 832 Mercantile Bank C. £18% n. Bank of East Asia. 893 n

Am: 0. Finance Corp., Sh. 20 China O. Fin. Orð., Sh. #4 s. China O, Fin. Pref. Sh. $5 n.

Insurances.

/-

Canton Ins., 3270 sa: Union Ins., $5171⁄2 n. China Underwriter, 31.10 b. China Fire Ins., $510 u. H.K. Fire Ins., $2371⁄2 n.

REACTION SEEN ON WALL STREET:

Chart Compilers* Prediction-

MUNITION INQUIRY RE-OPENS

New York, To-day.

NEW YORK STOCK EXCHANGE

NEW ADVERTISEMENTS

PUBLIC AUCTION

S. E. Levy And Co., And

A.O.F.C. “QuotationsHE Undersigned have received -instructions to sell by Publie

TH

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

+

Last

10.16

11.00 4.97% 4.95% 4.05%

unfavourable factor that the Senate munitions investi- .gation re-opened yesterday possi-G. Corn May 31%

W. Wheat May 83 the STOCKS

.

that of September. for October was 1.5 per cent above N.Y. Rubber

Mar. July

Conference Board has reported that manufacturing employment N.Y. Silk May 1.27%

A Wall Street chart compilers are predicting a technical reaction. Favourable factors yesterday were N.T./London that Wall Street considers the NY. Cotton

Dar. Treasury financing plans are con-

July servative, and that the Industrial M. Silver Mar. 55.2555.266 35.25b 50.15 55.906 65.006

Close

12.60

12.53

12,58 12.57 12.51 12.51

May

1.304

13.88 13.705

18.30

13.28

13.78

13.08

Án

wis C. Wheat May 99%

100/

July

934

02%

91%

A34

Amer Smelting 36%

38%

38

8. B. Lery And Company's Report Auburn

In their market report, Messrs. Con Gas NY S. E.. Lévy and Company, corres Elec Hoi & Share 8%

Du Pont pondents for Messrs. White. Weld Gen Motors

26

*23%

24%

23%

97

836

87%

33%

33.

33%

364%

36%

20%

27%

27

36% 20 27%

224

21%

21%

42%

4214

42 384

bly reflecting adversely on price of Du Pont stock.

International Assce. Sh. $5.60 n. Jenused by evidence of friction over Montgomery W. 29%

Shipping. Douglases, $41 n. H.K. Steamboats, $7 n. Indo-Chinas (Pret.), $80 n. Indo-Chinas (Def.), $83 n. Shella (Bearer). 845/71⁄2 1. Union Waterboats, $13% n

Mining.

Antamoks, 70 cts. n. Balatocs, $37 n. Baguio Gold 40 cts. ga. Benguet Consolidated $13% n. Benguet Exploration 20 cts. b. Benguet Goldfield, 20 cts n. Big Wedge, 10 cts.'.

Gold Creek, 21 cts. n. Gold Rivers, 21 ets. n. Ipo Mining $21⁄2 n.' Itogans $6.30. Salacots 18 ets. n.. Kailan, 20/3 R.

Langkats (Single) Sh. $15.

S'hai Exploration, Sh. 86.10 n. S'hat Loans, Sh. $6 n. Raubs, $11 n. Venz; Goldfeld, $5 n.

Docks, etc. H.K. Wharves, $106 b. H.K. Ducks, $12% n. Providents (old) $1.40 b. Providents (new), 50 cts. n. Hongkews, Sh. $810 m. New Engineeringa, Sh. 35% n. S'hai Docks, Sh. $120 ̊ n.

: Cotton Mills. Ewo Cottons Sh. $10.10 sa. S'hai Cottons (old), $74% n. S'hai Cottons (new), $45 n. Zoong Sings, Sh. $9.40 n. Wing On Textiles, Sh. $55 n.

Lands, Hotels, etc. H.K. and S. Hotela $5 n. H.K. Lands $5234 b. H.K. Lands*4%

Shanghai Lands, Sk. $25% ¤.

101% n.

Metropolitan Landa, S. $13 n. Humphreys. $935, n. .H.K. Realties $4.95 n.

Asia Realties "A", Sh. $100 n.

ON

Friday the 7th, December 1934 commencing at 2.30 p.m.

at their Sales Room, No. 80, Hankow Road, Kowloon

A Quantity of VALUABLE HOUSEHOLD

FURNITURE

On view from Thursday the 6th. December, 1984..

Terms: Cash on Delivery.

LAMMERT BROS.,

Auctioneers.

Hong Kong, 4th December, 1934.

NOTICE..

SUBMARINE TELEPHONE. CABLE is being laid in the cable reserve betwean Blake Pler and Star Ferry Wharf, KowicOE, Jon WEDNESDAY, the 5th Decem. ber, at 9 a.m. Masters are request- ed to steer clear of cable laying craft.

and Company. New York state: Int Tel & Tel 014

"Stocks: There is uneasiness here" Loew's Inc.

the Government's housing plans N.Y. Central

Nat Distillers

which have been carried over into Stan Oil NJ the new week by the uncertain|U.S. Steel 38 38 status of the relief programme. A

London Priceя clear statement by President Roose don were received last night between The following quotations from Lon- velt, definitely outlining his stand in 5.30 p.m. and 10.30 p.m. these matters, would greatly help. Silver Spot 24-5/8 (last close). Possibly such a statement will be 24-11/10 (last recd), 1/18.up (change) forthcoming after his return to 24-13/16 (last recd), 1/16. up (change) Silver Forward 24-3/4 (last close), Washington later in the week. Silver Report:-India and specula- Five-Year Plan Starting:

Meanwhile the market lacks incen-tors bought. China Bold. tive. Business done:-750,000 steady, shares.

Market

BUILDING BOOM FOR AMERICA

In Near Future

Gold 139/9-1/2 (last close), 143/2 (last recd), 4-1/2 up (change).

London/N.Y. Selling Rate 4.97-1/2 (By Telegraph, Copyright, Telegra

SPECIAL TO CHINA MAIL High grade issues (last close), 4.96-3/10 (last recd, pkid Messages Ordinance, 1891, Re

"Bonds: US. Government Bonds were better.

show a temporary lack of inquiries 1-5/16 down (change). caused by a slight feeling of

London/Paris Sulling Rate 76,40ceived December 4, 3.26 m.) un-(last close), 76.28 (last reed), 12 easiness. Second grade issues were down (change).

New York, To-day. lower.

It is privately believed that Liverpool Cotton-Mar. 6.69 (last the United States building pro "Graine: Technically healthy sup-close), 6.73 (last reed), .04 up (change) gramme plies of lower grade growths of close), 1/9-1/8 (last read), 1/2 up

Liverpool Wheat-Dec. 4/8-5/8 (last within the few months, inaugur will be in full force Wheat are decreasing. Total sales: (change). -18.523,000 bushels..

ating five years of construction London Robber-Jan-Mar. (buyera) expenditures at U.S.$1,500,000,- "Cotton: The market is narrow 6-5/8 (last close), 6-5/8 (last recd), 000 yearly Reuter.

unchanged (change),

and technically better.

"Rubber: In a featureless Rubber and unchanged. sales:-139 lots.

London Rubber Jan-Mar. (sellers) market 6-3/4 (last close), 6-3/4 (last recd),

Total unchanged (change).

(Continued on Page 11.)

ARTIFICIAL COTTON

IN ITALY.

Decree For Compulsory Use Seen

London Rubber at noon 6-5/8 (last recd).

London Forecast

(buyers)

A forecast from London on the

probable trend of the New York mar-

ket states:-

U.S. RAILROAD INCOME IMPROVES

New York, To-day-Railroad in-

In spite of the nervousness occasion come for October exceeded fixed: ed by President Roosevelt's conference charges for the first month since with the Radicals, it is not expected to June-United Press, per S, E. Levy underraine confidence to a large degree, and Company,

Nevertheless, trading on Wall Street 30

is likely to be cautious and on a smaller scale.

The cotton market is expected to be tired. However,

a more active de- bextiles is anticipated.

BUSINESS INDEX SHOWS IMPROVEMENT

SPECIAL TO CHINA MAIL. (By Telegraph, Copyright, Telegramand for phio Messages Ordinance, 189, Re-European policies, constricting the out- ceived December 4, 8.88 'ath) let for foods of primany producers is

devoting the attention of producera to-York Times business index was 76.8 New York, To-day-The New

Rome; To-day.

Rubber is expected to open lower.

It is expected that the Italian wards cotton. Debentures Government will shortly issue & from abroad and reported of

Wheat is expected higher on cables yesterday, as against 76.5 last week decree.. making compulsory, favourable weather in the southern per S. E. Levy and Company,

un-and 78.9 last year-United Press,. wherever possible, the use of the hemisphere. new artificial cotton developed by the Viscosa Company, of Mi- lan, from wood pulp, with the re- sistance. strength and softness of natural cotton. It is expected. that, eventually, it will affect the

Asia Realties "B" Sh.$20.

Chinese Estates, $90 n. China Realties, Sh. $124 n. China Debentures" Sh. $187 n.

Pablle Utilities H.K. Tramwaya $19b.- Peak Trama (old); $14 n. Peak Trams (new), $7 n. Star Ferries $97 n.

Yaumati Ferries $22

n.

C. Light (old), $9.55 b., $94.

$9.65 Ba.

C. Light (new), $9.80 b. HK Electrics $70_88.

THE CHINA & SOUTH SEA BANK, Macao Electrics, $25 n.

JIMITED

(Incorporated in China)

Shanghai .$7,500,000.00 $1,500,000.00

Head Office. Capital

Reserve

Branches

..All Important Cities

in China

Travellers the use of its "Travelers Banking Business transacted. Cheques" and Leiters of Credit and,

Foreign Exchange and General

Current and Suving Accounts opened

In addition, the world-wide services and Fixed Deposits received for one Capital (fully paid-up) Yen,100,000,000 of its thoroughly equipped Travel Do-year or shorter periods at rates which Reserve Fund

Yen.124,250,000 partment...

Head Office: YOKOHAMA

Branches and Agencies at:-

Alexandria

Batavia

Berlia

Bombay

Calcutta

Gantoo

(Dalny)

Hamburg Hankow

Harkin**

Honolulu

Nagasakt Nagoya

New York Osaka Paris Rangoon

Peiping

Yukden) Rio de Janeiro

Hong Kong Hainking Karachi

Kobe

London

Los Angeles

Manila

Hoft

San Francisco

Scattle Semarang Shangha Singapore Soerabaya Sydney Tientsin

Tokyo

Tsingtao Yingkow

will be quoted on application.

SOU Z. CHANG,

Manager.

+

C. H. BENSON,

General Manager.į

HONG KONG BRANCH: 24, Des Voeux Road, Central, Manager's Office.Tel. 83565 Foreign Exchange Dept. 38566 General Office. .Cashier's Office

19

83567 28569

THE WING ON BANK, LTD. HONG KONG

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of every description transact- led

Current Accounts opened, Special Deposits received at special rates, and Fixed Deposits received for one year for shorter period at rates which will

be quoted on application.""

Safe Deposit Boxes (various sizes)

Interest allowed on Current As-for-hire.-

Deposits received for fixed perioda

·PHILIP GOCKCHIN

• Chief Manager

as rutes to be obtained on application. L. GOCKCHIN

G. KISHINAMIN, ONG

Hong Kong, 11th September, 1984,

Assistant Manager

LI SHU FONG "Assistant Manager,

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

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

....$7,000,000, 7 Capital Savings Dept. $500,000, Reserve Savings Dept: $800,000. Head Offen-Shanghai

A Bank having as its mission the Industrial, development of China and the fostering of her commer→ cial relations abroad. Ver T Hong Kong office-7 fer House Bt. Phone: 21481-2-3 /

Sandakan Light, $8 3. Telephone (old), $23.85 b. Telephone (new), $9.70 b. China Buses, Sh. $18.20 n. Singapore Tractions 4/5 b. Singapore Pret.. $17/9 h.

Industrials

Malabon Sugars, $8.70 n. - Cald: Macg. (Ord.), Sh. $21 p. Cald: Macg. (Pref.), Sh. $20 n. Canton Ices $2.85 b. Cements $2.85' n. H.K. Ropes, 4 n.

Stores, etc.

Dairy Farms, $22.80 b., $28 sa. Watsons $5 n Der. A Winge, $1 n. Lane, Crawforda 33.55 n. Mackintosha, $21 E.

Sinceres, $10 n. ⠀

Wra. Powells, 70 ct... Wing On (H.K:)' $110 n...

Miscellaneous

H.K. Amusements, $244 Entertainments, $731⁄2" m. S.C. Enterprises," $1'.hk"," Macao "Greyhounds,”; $2 ni Constructions (old), $1.80 m. Constructions (new), 75 cts. b. Vibro Piling $0.50 a

Ch. Govt. 5% 1925 GSBds. 90%

importation of American cotton. United Press, per, S. E. Levy and Company.

BEST OCTOBER CONSUMPTION OF. COTTON SINCE 1929

AMERICA'S LATEST

COTTON PLAN

་

·MINISTER TO TURKEY FROM CHINA

Gen. Ho Yao-tsu, the first Chin

May: Finance Growing ese Minister to Turkey, will leave

Overseas

New York, To-day.

With a view to maintaining their

for his post in February

share of the world's markets, is it insured?

American cotton exporters are re-

Insurance All Classe American Asiatic Underw

LOWEST BATES

New York, To-day.--The Cotton ported to be seriously considering Exchange has reported that Octo financing cotton-growing in Brazil ber world consumption w was 2,194 and other countries where staples 000 bales, as against 1,874,000 competitive with American staples bales-in-September and 2,128,000) are produced." during September last year,

Forced into this by a sharp drop This is the largest October con- in American cotton exporta, several sumption since 1929 United leading export houses recently sent Head Office Press, per S. E. Levy and Com- investigators to Brazil, from where, pany,

NEW U.S. TREASURY

ISSUE

U.S.$900,000,000 Financing

·EPECIAL TO CHINA MAIL.

Washington, To-day.

The United States Treasury is offering U.S.$460,000,000 of 3% per cent. 18-year bonds, and U.S. $450,000,000 of 1% per cent. 18- month notes.

It is also refunding U.S.$§ 249,000 on 6,500 certificates due lon December 15, permitting exchange of 41⁄2-year notes."

ISSUES OVER SUBSCRIBED The United States treasury clos ed its books to new offerings at, 6 p.m. yesterday, and reported that the issues were over-anbscribed several times.O

This was the frat time in four years that the books closed on the HK Govt. 4% Loan, 8% prem, b. same day as they opened.

H.K. Govt. 84% Loan 84%

prem. n.

Wallace Harpers 374 n.

to

books," however, remain

onerings Levy and Compal

Fed. Inc., USA, General Agents

It is understood they have received 17, The Band encouraging reports on the pos- Shangha! sibilities whon equipment for hand- ling crops is provided Reuter,

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, INC. CHICAGO BOARD OF TRADE CANADIAN COMMODITY" EXCHANGE, INC.

CORRESPONDENTS FOR

WHITE, WELD & CO. NEW:: YORK

7. ICE HOUSE STREET, HONG KONG

80101 and 80103-

WELL. Odleg

Anin. Life Buliding

Tel. 29282

Tel. Address: Balco