1934-12-07 — Page 6

BANKS

WONG KONG AND SHANGHAI BANKING CORPORATION.

Setherland Capital

agaminimisiana $60,000,000

Led and Fully Paid-20,000,000

Bore Fucda:~.

ring£3,500,000

ver $10,000,000

Movers - Lability of Proprietors.$30,006,000

HELD OFFICE: HONGKONG.

Now Mr... Dadwell. Deputy Chairman.

W. Bali. Kuq.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA,

Incorporated by Royal Charter, 1888, HEAD OFFICE: LONDON

Paid-up Capital

Reserve Fund

.£3,000,000 .1£3,000,000

Reserve Liability of Pro-

BOARD OF DIRECTORS.

Elon. Mr. 0. 0. H. Mackle Chalan,

priators

.£8,000,000

Agencies and Branches:

Alor Star

Iloilo

JADOD

Ipak

Halgon

Bangko

Karacht

Heinarang

Kl

Bomb

Kobe

Galoutta

Kuala

Cantom

Luge pus

Cavapore

Kuchlag

Chleba

Taiping

Dolembe

cila

Tentsia

Defini

Heden

Tog

Halphon

New York

(Bhbor!

Poplar

Taustao

Hankow

Fokodama

Zamboanga

EL. Doceptos, nog.

W. J. Slot, Eng.

■ 13. Knight, Esa.

AMOY

MANGXUX MATAVIA

BOMBAS

CALOUTTA

CANTUN

1. Mukin, Ro

K. H. Morrison, Esq.

J. K. Pharos, Kos,

V. M. Omykura,” bog.

DESPOO COLOMBO RAIBEN.. FOGULOW KAIPHONG HANBUINE BANKOW HARMIN RONGKRW FAILU

JOHOR

KOBE

KU WLCHON

• Chlaf Maunger.

HHANDLING:-

LONDON

LENS

MALACCA

MANILA

NUAN (Johor)

MCKDEN

NEW YORK

PEIPING

PENAKG BANGHOUN

SAIGON.

SAN FRANOI800

KUALA LUMPUR

SHANGHAI

SINGAPORE ZAURABAYA

SUNGE! PATANI

TIENTSIN

TOKYO

4SINGTAO

YORQUAMA

Cumal icoul opened in Local Currico and read Deposite resized for case, you shorter periods lu Local Company and Berling m farsca sebirk will be quoted sa application. Moog Kong, 12 April, 1986.

HONG KONG SAVINGS BANK.

The Butthest of the abovy Bask le condues. by iba HONG KONG AND BUANOUAL BAMBINO CORPORATION, Rules may be

blained on application

FOR THE HONG KONG AND HHANGHAI BANKING CORPORATION

V.. GRAYRORN,

Chlal Vacore.

Hong Kong, Wh February, 1984.

THE BANK OF EAST ASIA, LTD.

Bukhariank Capital

up Capital

--||20,009,906.00 5,600.900.00

Harbin

Hong Konga

(Poking).

Betembe

Khanghai

blogsp

-Siilawan ·

Foreline Exchange and Groent Banking business

tracosolek.

Currence opened and Fized Depot of a year or shor whlok will be quoted on sprites

ratas

W. H. E. THOMAS,

Acting ManagOT. Hong Kong, 20th February, 1934.

SAFETY FIRST! To Safeguard Your Valuables' and Jewelleries. Deposit them in 'a Vaul that is really; FIRE PROOF BURGLAR-PROOF

·DAMP-PROOF!

OUR SAFE DEPOSIT VAULT Located on the Mezzanine Floor of Our New building in Specially Con- #tructed to provide all of the Im- partant Qualities.

-

You may

obtain a Safe Deposit Box in this most up-to-dats Vault_forį your own use at a very moderate Ren- [tel.

Inspection Cordially Invited. THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice House Street, and Des Voeux Road, Central,

Departs and Undivided Prut 33,000.00 THE BANK OF CANTON, LTD:

4K

HEAD_OFFICE:-HONG KONG

13, Das Vous Food Central,

BOARD OF DIRECTORS—

Sir Hhousen Chow, Chal

Chun, Esq., F. K. Kwok, Deq., Wong

Established 1912.

Head Office:Hong Kong.

Esa Toot. Pag... Chan Ching Khaa, Xaqh, La": Authorised Capital.

Esa Toog Pa. Esq. Chief Manager.

Li Too Yong. Baq.. Manager.

BRANCHES AND AGENCIES

Manila

THE CHINA MAIL, FRIDAY, DECENBER 7, 1034

ommerce and Finance..

SECURITY OUTLOOK STRENGTHENED

Improving Business Sentiment In U.S.

SPECIAL TO CHINA MAIL. (By Telegraph, Copyright, Telogra- phto Messages Ordinance, 1891. Ba ceived December 7; 8.31 a.)

New York, To-day. "Standard Statistics" in its mar-. ket review, states that the security outlook is strengthening due to im- proving business sentiment.

The. Moody service atates that business and stuck prices continue in the constructive phase develop ing higher prices. Possible irre- gularity, however, should not dis- turb investors.

The "Annalist" states that on the basis of normal business it is prob able that many stocks will be able. to show earnings which make the; present prices appear extremely low-United Press, per S. E. Levy and Company.

RAW RUBBER PRICES

Latest Quotations From Singapore

Messrs. H. B. Joseph & Co. have Currency quotations (Buyers) from received the following Straits

Singapore for Raw Rubber.

Jan.-March-22 Unchanged. April-June-23: Unchanged.. Market:--Steady.

GRAIN FREIGHT RATES

·REDUCED IN U.S.

$11,000,000 Br. Road Chu, So, Esq. and Kan Ying Paid-up Capital .... Dr. Bog

New York, To-day-The Inter-j 8,655,000 Total Resources

$2,170,409 State Commerce Commission has Branches: Canton. Toishan, Shanghat, reduced the western railroad Hankow, Bangkok & San Francisco, grain freight rates,, effective on London Bankers: Lloyds Bank, I

Foreign Exchange and Banking April 1, thus lowering the an- business of every discription trans-nual revenues by over U.S.$6.-) 000,000 and affecting principally Current Accounts opened and Fixed the Atchison, Topeka and Santa! Deposits recerred, for shorter periods at rates which will be Fe and the Union Pacific railway quoted on application.

companies. - United Press, per Safe Deposit Boxes (various sizes)S. E. Levy and Company, fer hire.

Messini

Aleitours.

Solaris

ba

Nakt

Bemarang ökangbal

New Yoch

Hingspore

acted.

trata

Surabays

iphon

Paris

BULION

Stankow

Pricing

byduny

Tausug

Labe

Малось

Mantain

Hawloom

Tekn

Lunda

Si Franco

Yascorrer

Tokobane

Bary scription

Bested.

BHOLZĒŠANA.

of Banking and Exchange

Losis granted on approved

Gurrans Account opened in Loud Quo

Fixed Depoatia repelted for one your M

aberta parod

Local and Foreign Currencies

one year or

LOOK FOONG SHAM,

THE

Chis! Manager.

orms walch will be quoted on application AMERICAN EXPRESS COMPANY,

Bada Theporis Jozen To Let

BAN TONG TO,

Chial Maige.'

Hong Kong, at March, 1984.

THE BANK OF TAIWAN, LTD.

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

Central Bank of Formosa, Notes

Issued Average amount Y.45,000,000

Branches and Agencies, Japan:-Kobe, Osaka, Tokyo, Yoko hama, Keelung, Makong, Nanto, Shoka, Shinchiku, Talehu,. Tainan, Talto, Takao, Tamsui, Toen, Karenko, Kagi, Heito, Giran. China: Amoy, Canton, Foochow, Han

kow, Shanghai,, Swatow. Others:-Bombay, Hong Kong, London, New York, Singapore, Batavia, Samarang, Sourabaya, Dairen. On and after April 20th, 1934, tha rate of Interest on Special Current Deposit will be at 1% p.. on daily. balance and the rate for balance over 30,000 will be quoted on application [Maximum rate-1%).

·Y. OHNO,

Manager. 3, Des Voeux Road, Central

Hong Kong Branch

-INC.

Head Office: 65, Broadway, New York

.U.8.$8,000,000.00 2,887,111.69 1,995,528.31

Capital Surplas Remrves

BRANCHES:-

Amelerlem Aaiwerp

Ama

Berlin

Milep

Glasgow

Naples

Harina

Pirineos

Hambur

Purle

Bombay

Bestas

Elezabele

Cairo

Har Heidelberg Interlaken Jerusalem London

Falpio

Liverpo

Lucrtie

Lugano

Luxor

Mamellen

Monta Cerin Kralla Munich Introdu

Calcutta CANDI Calomba

Talla Edinburgh Firepo

es

Palermo Rotterda Reve Bhaght

Borthampton Stagapa Fanta Troemias Vienne mic Icrobame Zurisk

Branches of American Express Com-

U.S. MAKE TAKE STEP TO CURB GRAIN IMPORTS

New York. To-day. There were heavy grain purchases in- spired by rumours of Adminis- tration plans to invoke the anti- dumping clause in the Tariff Act against those European coun- tries who are allegedly subsidis- ing their wheat and rye exports. United Press, per S. E. Levy and Company.

LABOUR OPPOSITION TO U.S. TELEGRAPH MERGER

"

New York. To-day--Organised labour is opposing the telegraph marger in America. Neverthe-

less, the Communications Com- mission indicates that it is likely to make a recommendation en- abling such legislation-United Press, per S. E. Levy and Co.

pany in Principal cities of United THE CHINA & SOUTH SEA BANK, States of America and Canada.

All classes of Commercial Banking Kransactions undertaken:

Personal investment accounta

THE YOKOHAMA SPECIE BANK handled

LIMITED.

The Company offers to intending Travellers the use of its "Travelers Cheques" and: Leiters of Credit and. fits thoroughly equipped Travel De addition, the world-wide services Yen.124,250,000 partment.

Established 1880 Capital (fully paid-up) Yen.100,000,000 Boterve Fund

Head Offer: YOKOHAMA

Branchen and Agencies xt:

Alexandria

Batavia Berlin Bombay

Calcutta

Canton

Dairen (Dalny)

Hankow Harbin

Nagasaki Nagoya

New York Oxyki

Parlu

Pelping Rangoon

(Mukden) Rio de Janeiro

Hang. Kouz Honolulu Hsinking

Karachi

•Tobe

Lonfi.m

Los Angeles

Manila

Hoj

San Francisco Seattle Semarang

Shangha Singapore Boerabaya Sydney

ed.

C. H. BENSON, Mary General Manager.

THE WING ON BANK, LTD. HONG KONG

17

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of every descriptian transact

Current Accounte

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. SAN Safe Deposit Boxes (various sizes)

Tientsin Takyo Taingtan Vingkom

Interest - allowed on Uurrent Ac-for hire, ban pengh

PHILIP GOCKCHIN Chief Manager

Dayouts received for red periods raies to be obtained on application, L. GOCKCHIN

KISHINAMI

Hong Kong, 11th September, 1934.

Assistant Manager int

VALI, SHU, FONG. Atilatant Manager.

LIMITED

(Incorporated in China) Head Office Shanghai Capital

Reserve

Branches

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

All Important Cities

in China Foreign Exchange Banking Business transacted.

and General

and Fixed Deposits received for one Current and Saving Accounts opened year or shorter periods at rates which will be quoted on application.

SOU Z, CHANG.

HONG KONG BRANCH:

De Vox Road, Central: "Manarer's' Office

................Tel. 39KAK

Foreign Exchange Dept. General Office Cashier's Office

38588

38567 38569.

THE SHANGHAI COMMERCIAL &SAVINGS BANK LIMITED (Incorporated in China) Capital paid up ......85,000,000. Reserves Capital Savings Dept. $500,000. Reserve Savings Dept. $800,000 Head Office-Shanghai

-00004). $7.000.000,

A Bank having as its mission the Industrial development of Chite And the patering of her 'commer cial relations abroad. s Hong kene nace Ice House BL

LOCAL SHARES.

. TO-DAY'S QUOTATIONS,

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

Banks.

NEW YORK STOCK

EXCHANGE

S. E. Levy And Co. And -A.O.F.C. Quotations

LOCAL DOLLAR ADVANCES

Silver Prices Improve

The local dellar has improved, opening on demand this morning at

The following quotations from New 1/81⁄4.. York have been received by Mcare 2. E. Levy and the American Orienta! Finance Corporation.

Spot and forward silver prices advanced, closing to-day at 24% and 25, respectively.

The London on New York rate closed yesterday at: U.S.$4.95%, as compared with U.S.$4.64% on Wednesday,

NO RUMOURS OF

* INFLATION

New Gasoline Price War Threat

WALL STREET FACTORS

New York, To-day. The recent advance, in the stock cross-market was not accompanied by

rumours of inflation:**

Favourable factors yesterday: (1) The Bell System Increase in November of 16,200 telephonés, as against 38,200 in October and 64,750 for last year and a probable total increase for 1984 of 200,000 against a loss of 630,000 telephones last year.

The New York on London rate was quoted at. SU.S.$4.98%, 18 compared with U.S.34.94%.

WHOLESALE GAS RATES REDUCED IN U.S.

N.Y./London .IN.Y. Cotton

Mac.. July

n.

M. Silver Mar. 55.15b. 55.45.

May

NY Silk May 1,30%

Last Close 10:10 11,00 4.9476 4.054 4.95

12.03

12.63 12.61 12.69 12.58 12,56 55.45 55.70 66.000 55.605-

$1,29:

NY Rubber

Mar.

13.34

19.42 13.46

July

13.70 •13.83

18.85

C. Wheat May 104

July

97%

7034

07.-

02

84

Amer Smelting 37% Auburn

37%

17%

J 27

27% 27%

Con. Gna N.Y. 23% Du, Pont

24% 23% iated

-984

29%

98%

Elec. Bond & Sh. 8% General otora 33% Int. Tel & Tel 944 Loew's Tric.

**

84

stimulate

334

9%

BA

38 Mongomery W. 30% 30% 80% Nut. Distillers 284 28% N.Y. Central 2922-

22% Standard Oil NJ 42% 42%

38%

35%

and Company.

2814

23 43%

H.K. ANTI-PIRACY

U.S. Steal

38%

1

n.C. Corn May 92% W. Wheat May 85% STOCKS:

H.K. Bank 81600 b. H.K. Bank (London), £186 Chartered Bank 515% n. Mercantile Bank, A. & B. 482 m. Mercantile Bank C, 18% . Bank of East Asia, $98 n Am: O. Finance Corp., Sh, $20 China 0. Fin. Ord., Sh. $4 n. China O. Fin. Pref. Sh. $5 n.

• Insurances. Canton Ink, $270 n. Union Ins., $511-sa., $301-b. China Underwriters, $1.10 b. China Fire Ins., $510 n. HK. Fire Ins., $237. International Assce. Sh. $5.60 m.

Shipping.

Douglases, $41 n. H.K. Steamboats, $71⁄4 n. Indo-Chinas (Pref.), $80 n. Indo-Chinas (Def.). $88 n. Shells (Bearer) 44/4% n. Union Waterboata. $18% n.

Mining.

Antamoks 70 cts. Balatocs, $37 n.. Baguio Gold 40 cta. n. Benguet Consolidated $13% n. Benguet Exploration 22 cts. n. Benguet Goldfield, 20 cts. n. Big Wedge, 10 cts. 4. Gold Creak, 21 cts. n.

Gold Rivers, 21 cts. n.

Ipo Mining $22. Itogans $6.30 n.

Salacots 16 ets. n. Kailan 20/- n.

Langkata (Single) Sh. $15 n.

S'hai Exploration Sh. $5 n. S'hai Loans, Sh. 36 n.

Venz; Goldfield, $5 n. Raubs, $11 n.

Docks. etc.

384 385 London Prices

The following quotations from Lon- don were received last night between] 15.30 p.m. and 10.30 p.m.

Silver:-

New York, To-day--Consolid-

has reduced gas wholesale.

its rates hoping to the use -of -United Press, per S. E. Levy

OFFICER RESIGNS

(Continued from Page 1.)

(2) Montgomery Ward November sales were U..$26,900,806, : as against U.S.$20,969,808 for the corresponding period of last year, this being the bost November since 1929. Unfavourable factor:-*

(1) New Jersey gasoline prices have been reduced by a half cent.

SE Lovy And Company's, Report · In their market report, Messrs.

S. E. Levy and Company, corres- pondents for Messrs. White. Wald

In June of the same year he was and Company. New York atate:

"Stocks:-In spite of the alzable

Silver Spot 24-3/4 (last close),jagain transferred, and joined thei 24-7/9 (last roed), 1/8 up (Change), cruiser Royalist and was a Lieuten. advances which have recently tak Silver Forward 24-7/3 (last close), ant on board when the cruiser led en place, it is growing increasing. (25 (last reed), 1/8 up (Change), the line of escort ships, which con-ly more difficult to generalise on

Silver Report-India and specula

China bought and sold ducted the German Grand Fleet to the eventual turn of the market. tory_bought Market quiet.

Rosyth following their surren-Sentiment is mixed, but on the Gold 140/11 (last close), 140/7 (lastder.

whole is favourable and it would reed), 4d down (Change).

London/N.Y. Selling Rate 4.94-3/4),

Following the war years, Lt.seem that an advance is likely to (last close), 4.95-3/18 (last recd), 7/16 Comdr. Skyrme went to Cambridge occur on selective issues. jup (Change).

Rail- for a year to take certain courses roade are an important factor and London/Paris Selling Rate 15.09 and later joined the cruiser Delhi, any strength they show would be (last close), 75.15' (last reed), 06, up Flagship of Rear-Admiral Sir W.most constructive. Business dope: (Change).

Liverpool Cotton-ny 6.72 (last Cowan, in the Baltic.

-1,420,000 shares. SUBMARINE SERVICE

"Bonds: U. S. Government Subsequently Lt. Comdr. Skyrme Boads and second grade issues Liverpool Wheat-May 5/4-7/B (last saw service with the Submarines were assler. On the other hand, close), 5/5-3/4 (last reed). 7/8 up K.6, K.2 and M.1 in November of high grade issues were stronger. (Changes.

(Continued on Page 10)

(close), G.T2 (last recd), u' changed

(Change),

!

The Submarine K.2 was

London Rubber-Apr-June (buyers) 1920. 6-9/16 (last close), 0-9/16 (last recd), then under the command of Lt unchanged (Change).

Commander C. G. B. Coltart, who is XXXXXXX

London Rubber-Apr-June (sellers) now commanding the Fourth Sub- 6-11/16 (last closel. 6-11/16 (Inst reel), unchanged. (Change).

marine Flotilla attached to the London Rubber at noon 6-0/15 (last recd).

X

London Forecast

(buyers) Depot Ship Medway.

In December of 1926 Lt.-Comdr. Skyrme joined the Destroyer Mon-

H.K. Wharves $106 b. H.K. Docks, $12% n Providents (old) $1:40 b., $1.45 sa. (probable trend of the New York mar-trose, Flotilla leader of the First

Providente (new), 50 cts. n.

Hongkewe, Sh. $310 n. New Engineeringa, Sh. $5% n. S'hai Docks, Sh. $120 n.

Cotton Mills. Ewo Cottons Shi $9.85 sa. S'hai Cottons (old), $74% ni S'hai Cottons (new), $45 p. Zoong Sings, Sh. $9.40. n. Wing On Textiles, Sh. $55 n.

Lands, Hotels, etc.

H.K. and S. Hotels $4.90 b. H.K. Lands $58 b., $431⁄4 sa. H.K.

Lands 4% Debentures

1014% n. Shanghai Lands, Sk. $26% n. Metropolitan Landa, Sh. $13 n. Humphreys: $91⁄2 n.

H.K. Realties $4.85 8. Asia Realties "A", Sh. $100-n. Aela Realties "B" Sh.#29 n. Chinese Estates, $90 n. China Realtles, Sh. $124 n. China Debentures Sh. $187 n.

Public Utilities

•

H.K. Tramways $20,b., $20 sa. Peak Trams: (old), $14 ̄n. ' Peak Trams (new), $7- n. Star Ferries $98 b., $221⁄4 n. Yaumati Ferries $221⁄44-n...· C. Light (old), 89.65 ̧ b. ~G-Light-(new), $9.30 b

H.K. Electrica $70 a. Macao Electrics, $25 n. Sandakan Lights $8 n. Telephone (old), $29.95 b. Telephone (new); $9.70 b. China Buses, Sh. $18.20 n. Singapore Tractions 4/3 b. Singanora Pref.. $17/0 h.

Industrials

Malabon Sugars,;$8.70_n. Cald: Macg. (Ord.), Sh, $21 n. Cald: Macg.. (Pref:), Sh. $20 n. Canton Ices $2.85 b.. Cements $24h, and sa. H.K. Ropes, $4 no. Storeng etc. Dairy Farms $23 b. Watsons $5 n Lane, Crawfords. $3.55, n. Mackintoshs, $21, n. Sinceres, $16 nate Wm. Powells, 70 cts. n. Wing On (H.K.) $110 n.

Miscellaneous, H.K. Amusements, $24. Entertainments, $71⁄2 D. --- S.C. Enterprises. $1 p Macao "Greyhounds,“" 12 n. „Constructions (eld), $1.80 n..

Constructions (new), 75 cts. b. Vibro Piling 86 60,

Ch. Govt. 5% 1925 G$Bdx-92%

'A forecast from London on

ket states:-

the

Mediterranean Destroyer Flotilla at

Reawakening interest from, London Malta.

is likely to impart more, confidence

He first came out to the China

on Wall Street with a continued im Station on the Submarine 0.27. ag

provement in prices and expansion in business.

Lt. Compr., and sailed Home Againy

The Cotton market is expected to be in her, accompanied by the Sub- casier, Mr, Oscar Johnston denying that marine Depot Ship Titania, in Octo- the Government is contemplating sales to Germany.

The Government is adber of 1929... He spent a year at vocaling the continuance of restriction Home during the building of the until the carry-over is reduced to about submarine Parthian, now attached 4,000.000 bales, with concessions to to the Medway, and brought her out small growers. This is likely to meet

RETURN TO CHINA

with opposition. It is rumoured that to the China Station. the Government is raising the tariff on against subsidised grain exports, Rubber is expected to be higher,

UTILITY HOLDING COMPANIES

ASSAILED IN U.S.

He returned to England in 1988) and came out in February, of this year as Anti-Piracy Ocer, attached to the Commodore's Staff.

LL. Comdr. Skyrme is being su ceeded on the Commodore's. Staff by New York, To-day-The Fed--Comdr. R. S. Barry of the Sub- eral Trade Commission has as marine X.1. The latter will arrive sailed utility. holding companies; in the Colony on December 27 and questioning the basic reasons will take over a day or two later. for their existence." United Press, per S. E. Levy and Co.

NOVEL LAUNCHING OF ORIENT LINER

SCHEDULED TO-DAY

(Continued from Page 9.)

Is It Insured?

***Insurance m~ All Classes MENU LOWEST BATES „American Asiatic Underwri

Fed. Inc. U.S.AN

General Agents

M.C., High Commissioner for Aus- tralia, will subsequently announced Head Office from the launching platform that

17, The "All is Well," and will broadcast Shanghai loyal greetings to the Duke. A running commentary on the whole of the proceedings will be given by Commander D. A. Stride, re- Jcently retired from the Royal Navy, who is also a Freeman" of the Honourable Company of Mas- ter Marinera te kad

bo

EMPIRE'S INTERESTRY The Empire has good reason to Interested in "Orion", "if only because her voyaging will be be tween Great Britain and Australis. Her construction in the 'shipyards of Vickers Armstrongs has meant employment for thousands of people and has given a fresh, im- petus to the shipbuilding industry in the north-west.

Orion has a displacement of 24,000 tons, with a length of, 664|| feet and a beam of 82 feet. Her hull is white with one yellow funnel, and a single mast will be driven by two twin screw Bhe

turbines, with a horse-power 27,000. Elaborate arrangements Tenders the

HK Govt. 4% Loan, 8% prem. have been made H.K Govt. 84% Loan 85% 99 vessel, fireproof.

Harper 87%

will carry BBC.

Ο

·R.K. One. Ania Jiffe Building

· Tel. : 30234

Everything

gone. BUT YOUR SAVINGS

RENT

FOOD

CLOTHING

HEAT

TAXES

WATER

CHITS

SAVING

SAVE SOMETHING

START NOW

UNDERWRITERS SAVINGS BANK FOR THE FAR EAST, INC.

Asia Life Building Hour Kons

Tel: 30234

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 ING. CHICAGO BOARD OF TRADE CANADIAN COMMODITY EXCHANGE,

CORRESPONDENTS FOR

WHITE, WELD CO. NEW YORK

7 ICE HOUSE STREET, HONG KONG,