1934-12-20 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION. ¿

Authorised, Captist gagneminin zone

$53.600,000 lowed kod Fully Paid-up 20,000,000 Barra Ponda tu

Beliaghtalrite

£ $200,000 $10,000,000

Hebarve Liability of Proprials 20,000

BEAD OFFICE, HONGKONG.

BOARD OF DIRECTORS. Lion, Mr. 0... §. Mackle Okalman,

Hon Mr. H, H. Dudweil

47.-13. (lol). Kuq.

Deputy Chairman.

H. Cempton, bag,

F.Favier, Esq

“40. Knight, Žag

MOT

BANGKOK

BATAVIA MONDAY CALOUTTA CANTON

OURFOO

COLOK BO

DUBEN

POOCHOW

0. Miskin, Esq.

H. 8. Morrison, Reg. -

T. E. Ponroe, Lag

3. M. Grasburn, heq.

Chint Manager.

BRANCHES-

LONDON LYONB

MALACCA

MANILA

MUAR (Johor)

MURDEN

NEW YORK

PRIFINO PENAKO

BANGVON

BAIGUN

TAIPHONG

RAMBUNG

HAN FRANCISCO

MANIOW

HARBIN

SHANGHAI

FONGKEW

110110

JONGER

FROH

TOBY

KOWLOON

KUALA LUMPUR

BINGAPORE

EDURABAYA

BUNDEL PATANI

TIENTSCH

TOKYO

THINGTAD

YOKOHAMA

Currex Accouche opened in Local Currency cad Vized Depole received for car or sheruar periods la Lood Company and Sterling

Seema walok will be quoted on application. Hoo Long, 18th April, 1934.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated: by Royal Uharter, 1853.

HEAD OFFICE: LONDON

Paid-up Capital

Reserve Fund

,28,000,000 .£8,000,000

Reserve Liability of Fro-

prietors

£8,000,000

Agencles and Branches:

Alor Har

Iloilo

Bangoon

..Ipoh

Bairon

Semtrang

Kiang

Seremban

Kobe

ธนัช ใหม่

Calen

Kosis.

Blogapre

Clos

Lumpur

Sitiwan

Cawnpore

Kachlo

-Bourabaya

Orden

Madras

Taiping

Colombe

Ma

Tiantain

DAM

Maden

Tookes

Haiphong

New York

(lauko)

Fambuts

Pellas

Ininglac

Harbow

Yokohama

Ituris

bonage

Amrit Bangkah Estoria Bonker

Luer Konr.

Forego Barbage and General Backing bosteen

tranacled.

Current Accounts opened and Food Deposit received for one your or shorter perioda uralo which well be qurled on application.

W. II. E. THOMAS,

Acting Manager. Hong Kong, 20th February, 1984.

SAFETY FIRST !

To Safeguard Your Valuables and Jewelleries.

Deposit them in a Vault

that in really: FIRE PROOF BURGLAR-PROOF

DAMP PROOF!

OUR SAFE DEPOSIT VAULT

HONG KONG SAVINGS BANK, focatod

The Bealise of the abors Bank is soodsal. ad by the HONG KOND AND SHANGHAI BANKING CORPORATION. Hulas may be stains sgplication,

THE HONG KONG AND SHANGHAI

BANKING CORPORATION...

7. M. GRAYBURN,

Okiel Manager. Mong Long, th February, 1984.

THE BANK OF EAST ASIA, LTD.

Eadhorised Capital

wefere and Umillsided Profile

$10,890,000,00

@1,434,000.00

HEAD OFFICE HONG KONG

1. Das Tomix Bosé Central.

BOARD OF DIRECTORS—

Wie Shoo-ses Chow, Chalzzoen.

Le Leon Chun, Big, P. L. Imak, Esq. Wong

Ias Img Eas, Chlo Unlar Sack, Kega, Li Int

Bang, Zeg, Wang Cây Bon, Eng, wil Kan Ties

Ku Tong Po, Eng.. Chia! Manager.

id The Frog, Esq. Manage.

BRANCHES AND AGENOTES1--

Paria

Bonilla fecerung Bhangha

bourbaga

Hagiin

Betaria

Helbourne

Bombay

Nagwall

Calcita

Beto

Now Toch Osaka

Fupload

Po'plag

Passug

Baoooo

Kowloom London

Balgon

Sydney

Thankala Toky

Bea Francisco

Maskaw Honolulu

Taholtas

Fotokame

Brar description of Banking, and' Esebaugu Los granted approved bude tresected.

securise.

Current Accounts open to Local Curren

Fixed Deposit twolved for oca

wharter paciole la Leoal and Yoelga Durrencies? terms which will be quoted on application. Bale Treponit 1 To Let

BAX TONG PO,

Chief Manager.

Hong Kong, 14 March, 1988.

THE BANK OF TAIWAN, LTD.

Head Office-Tathoku, Formosa, Incorporated in Japan by Special Imperial Charter, 1899, Central Bank of Formosa, Notes

issued Average amount Y.45,000,000 Branches and Agencies... Japan: Kobe, Osaka, Tokyo, Toko bama, Keelung, Makong, Nante, Shoka, Shinchiku, Talehu, Tainan, Taito, Takao, Temsui, Toen, Karenko. Kagi, Heito, Giran China: Amoy, Canton, Foochow, Han-

kow, Shanghal, Swatow., Other:-Bombay, Hong Kong, London, New York, Singapore, Batavia, Samamang, Scorabaya, Dairen. On and after Apill 20th, 1984, 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.

on the Mexxnine Floor of

THE CHINA MAIL, THURSDAY, DECEMBER 20, 1934

Commerce and

Finance.

LOCAL DOLLAR STEADY.

Silver Prices Increase

steady, The local dollar is opening on demand this morning at 1/8/

Spot and forward silver prices have advanced closing yester 24-3/16, 24-1/16 and day at respectively.

The London on New York cross- rate was quoted at £-U.S.34.94 an compared with £-U.S.$4.942.

The New York on London rate was quoted at £-U.S.$4.94%, as compared with '£---U.S.$4.95.

LONDON FORECAST

Wall Street is expected to be quiet in an uninteresting session pending the clearing up of details of the Public Works Scheme.

Cotton may open higher................. Rubber will probably be a shade better.

Wheat is anticipated unchanged. Our New building is Specially Con-In the United States the nights are structed to provide all of these Im-cold after showers. Weather in the Argentine is threatening. Bureau Portant Qualities.

You may obtain Safe Deposit Reports are featureless and the posi Box in this most up-to-date Vault for tion of Winnipeg. Wheat is unsound. your-own une at a vory moderate Ren- tal

Inspection Cordially Invited. THE NATIONAL COMMERCIAL

& SAVINGS BANK, LTD. Corner of lee House Street and Des Voeux Road, Central

THE BANK OF CANTON, LTD.

Patablished 1912,

Head Office:--Hong Kong,

Authorised Capital

$11,000,000 Paid-up Capital. ..

8,655,000 Total Resources

$2,170,498 Branches: Canton, Tolahan, Shanghai, Hankow, Bangkok & San Francisco.

London Bankers: Lloyds Bank, Ltd.,

Foreign Exchange and Banking

business of every discription

acted,

Current Accounts opened and Fixed Deposits receired for one year 02 shorter periods at faton which will be quoted on application,

Safe Deposit Boxes (various sizes) fer hire.

LOOK TOONG SHAW,

Chist Manig

THE AMERICAN EXPRESS COMPANY. INC.

Head Office:-85, Broadway, New York

Capital Surplus

Reserves

‚U.S.$8,000,000.00 2,087,112.69 1,995,528.31

Milan

Now

Àmelo Flam

BRANCHES-

Genom

Athana

Answers Avan

21

Naples

Besine

Berlin

Bombay

Broa

Brussel

Calzo Calcula

HAVALIN Hamburg

Heidelberg Interlake Jeruzala London.

Ple

Paris

Peipin

Paletna

Caunes Colombo

Copenhagen Publis Edinburgh Florenes Genera

Labor.

Marill

Hosts Carin

Meals

Munich

Flansa Venlos Totob Zurich

Montreux

Lavarpent

Lucerne

Lagana

Hotua Bhub Boutpo Singapor Teks Teoriza

Branches of American Express Com-

The favourable estimated weekly carloadings and the relative firmness of the market trading apathy are construed as favourable factors, but uncertainties regarding the Govern- ment's policies towards Utilities and the considerable amount of end of the year switching are unfavourable factors.

London Silver:-

Spot --24 1/16 up 1/8 Forward -24 3/16 up 1/8 London Silver Comment:-Specu- lators bought. Offerings small. Market Steady,

RAW RUBBER PRICES

¡

Latest Quotations From Singapore

P

Messrs. H. B. Joseph & Co. have! received the following Straits Cur rency quotations (Buyers) from Singapore for Raw Rubber:

Jan.-March 21 6/8 Unchanged April-June 23 1/4 Unchanged Market:Quiet.

NEWSPAPER ADVERTISING

SHOWS GAIN IN US..

New York, To-day.-National [newspaper advertising for No- Ivember was 7.2 per cent. above last year, a gain for the 11 months of 10.8 per cent-United Press, per S. E. Levy and Company.

IMPORTED LIQUOR DUTIES

MAY BE REDUCED^^!".

LOCAL SHARES.

*

TO-DAY'S QUOTATIONS.

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

Banks,

1. New York, To-day-House `lead-

ers are planning to reduce duties. on imported liquor, seeking lower prices-United Press, per S. E. Levy and Company,

pany in Principal cities of United THE CHINA & SOUTH SEA BANK,

Btates of America and Canada.smar

All classes of Commercial Banking ransactions undertaken.

THE YOKOHAMA SPECIE BANK Personal investment nosousta

LIMITED.

Hatablished 1880

handled.

LIMITED ⠀⠀⠀

(Incorporated in China) Head Office.Shanghai Capital Reserve

.$7,500,000,00 .$1,500,000,00 Branches......All Important Cities) The Company offers to intending Foreign Exchange

In Chinaey

and General Travellers the use of its "Travelers Banking Business transacted. Cheques" and. Letters of CreditTMand,

Garrent and Saving Accounts opened Capital (fully paid-up) Yen 100,000,000 addition, the world-wide service and Fixed Deposits received for one Reserve Fund..... Ten.124,250,000 of its thoroughly equipped Travel De:|

year or shorter periods at rates which partment..

will be quoted on application.

Head Oflee-YOKORAMA

Branches and Ageneles. at:, Alexandris

Batavia:

Berlin **

Bombay

Calcutta

Canton

Dairen : (Dalny)

Nagasaki Nagoya

New York

Onaka

Paris

Peiping Rangoon

Fengtien (Hukien) Rio de Janeiro

Hamburg Hankow

Harbin

Hồng Loạt Honolula

San Francisco Seattle Semarang Shanghaf

Sing

Hsinking

Earschl

Zobe

Landon

Los Angeles

Manila

Sydney Tientain Tokyo Taingtan Yingkow

Lucarest showed on

on Current

Depoelts receted for, azad

zates to be obtained on apple

INAYOS KIBHINA.

Hong Kong 11th Beptember 1984

E. W. DUGGAN,

Manager.

?

BOU Z CHANG,

Manager. HONG KONG BRANCH 24, Des Voeur Road, Central. Manager's Office ***... Tal., 23505 Foreign Exchange Dept. „- 83566 General: Office

83567 Cashier's Office

"88569

Vara

THE WING ON BANK, LTD.

HONG KONG TAS

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of description transact- [ød.

Current Accounts opened, Special|| Capital paid up 2:12. $5,000,000. “ Deposits received at special rites, (and Reserven op: $7,000,000 Fixed Deposits received for one year Capital Bavings:

THE SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED. Mats (Incorporated in China)"

for shorter period at rates which will|| Resurre, Savings

be quoted on application

Safe Deposit Boxes (Tarious mison).

PHILIP GOCKCHIN. Chief Manaver

GOCKCHINA ZELE Assistant Managerðinleg

+1 LI SHU-FONG. Assistant Managu

$600,000,

- (* Head Offee—Shanghai gigl

A Bank having, 44.

industrial "development

and the fostering of Tefal rélations shróná ~Hong Kder t

the

H.K. Bank $1625 b.

H.K. Bank (London) £1371⁄2 n. Chartered Bank $16 0.

Mercantile Bank, A. & B. #82 n. Mercantile Bank C, £13% n. co Bank of East Asia, $98 ¤. Am: 0. Finance Corp. Sh. $20

China O. Fin. Ord., Sh. $1.80 n.. China O. Fin. Pref Sh. $41⁄2 n..

''

Insurances,

Canton Ins, $270-n. Union Ins. $600 b.' China Underwriters $1.15 b. China Fire Ins., $510. H.K. Fire Ins., $2371⁄2, 1, ́ International Assce. Sh. $5 n.

Shipping.

Douglases, $401⁄2.n.~ H.K. Steamboats, 37% n. Indo-Chinas: (Pret.), $50-1. Indo-Chinas (Def.), 388 a. Shells (Bearer) 44/41⁄2 n. Union Waterboats, $18% n.

Mining. Antamoks 74 cts. b.,.79 cts. sa, Balators, $37 D.

Baguio Gold 40 cts, n. Benguet Consolidated $13% n, Benguet Exploration 21 cts. n. Benguet Goldfield, 20 cts. n. Big Wedge, 10 ets. n.

Gold Creek 23 cts. n. Gold Rivers 23 cts. n. Itogans 40 cts.n. Salacots 16 cts. n. Kailan" 20/8 n

Langkats (Single) Sh. $15 a. S'hai Exploration Sh. $5 n. S'hai Loans, Sh. 36 n. Raubs $10.70 .' Venz; Goldfield $5 n. Docks, etc.

RAILROAD ISSUE US. BUSINESS HEADS?

ADVANCE?

Wall Street Chartists' Forecast

LIFE INSURANCE SALES SHOW DECREASE

New York, to-day. Wall Street Chart Compilers are | predicting an advance in railroad Issues.

Favourable factors were:

CONFERENCE

Bank Add Currency Recommendations

THIRTY HOUR WEEK AND

DOLE OPPOSED

SPECIAL TO CHINA MAIL.. White Sulphur Springs,

To-day.

The meeting of business execu- tives have made a resolution. urg--

NEW ADVERTISEMENTS

UNION CHURCH

Kennedy Road, Hong Kong.

"MESSIAH"

..

Xmas Choral Service

Sunday, 23rd: December-6 p.m.)

SILVER BUYING. IN AMERICA

(Continued from 'Page 1)

(1) Electricity production was ing a balanced budget and the re 1.767,000,000 k.w. hours against turn of the relief burden to the 1,748,000,000 last week, and 1,644,-State at the soonest possible mo- 000,000 last year, the best since gent as the most effective means to create confidence and to enable 1930,

(2) The publication "Iron Age" business to develop, new industries the journal continues. The buying % has predicted a continued expansion and enlarge present enterprises. of metal on. American account has The conferees urged a definite been smaller in volume than specus in steel due to the start of 1935)

stabilisation of the dollar, plus the lators for the, rise anticipated, which, ļautomobile production:

($) Department store sales in 70 handling of the bank regulation so together with the unsubstantiated. cities for the first half of December that the control of the credit re-reports from China, has induced the The fac were 16 per cent. above sales for the serves shall be independent of closing of buil accounts.

tors which operated seem to point corresponding period of last year,

H.K. Wharves #108 h. H.K. Docks, $12% n. Providents (old) $1.40 n. Providents (new), 50 ċts. n. Hongkewa, Sh.' $310 m. New Engineerings, Sb. 85% n. S'hai Docks, Sh. $120.

Cotton Mills.

Ewo Cottons Sh.$9 L S'hai Cotton (old) 874 n. S'hai Cottons (new) 344% n. Zoong Sings, Sh. 59:40 n. Wing On Textiles, Sh. $55 n.

Lands, Hotels, etc. H.K. and S. Hotels $5.10 b. H.K. Landa $55% ca

H.K. Lands 4% Debentures 100%

b.

Shanghai Lands Sh. $241⁄2 n. Metropolitan Lands Sh. $12.20 Humphreys 89% n.

H.K. Realties $4.90 b., $5 ea. Asia Realties:"A", Sh. $100-n. Asia Realties "B" Sh.420_n. Chinese Estates 888 m. China Realtics, Sh. $121⁄4 n. China Debentures Sh. $138 n.

Public Utilities

Unfavourable factors were:

(1) November Life Insurance sales, were 0.6 per cent. below last

year."

(2) Daily average crude oil pro- duction has been 2,418,850 barrels, against 2,886,850 Inat week, United

government politics.

They urged the revision of the that the decline will be temporary. Securities and Stock Exchange Whether the suggestions by Sir; acts, and opposed unemployment Victor Sassoon would help to Insurance and a 30-week-United lieve the strain on China without Press, per S. E. Levy and Com-preventing the United States pur- pany.

Preas, per S. E. Levy and Company MUNICIPAL REFORM

S. E. Levy, And Company's Report| In their market report, Mesara.| S. E. Levy and Company, corres- pondenta for Messrs. White. Weld and Company, New York state:

"Stocka: While unfavourable de- velopments in the utility situation. hold the apot-light, the market is finding difficulty in making head- way. Business done:-980,000 shares.

"Bonds: U.S. Government bonds were up slightly. In high grade issues demand continues, but second) grade issues were off.

*

IN NEW YORK

President Confers

With Mayor

GOVERNMENT LOAN TO

CITY PROBABLE-

SPECIAL TO CHINA MAIL.

Washington, to-day. Continuing his drive for cheaper electricity rates Prealdent Roose

"Wheat: Larger liquidation of velt, in an interview with the Press, December wheat was the principal attacked the over-capitalized holding influence. Opinion remains un-companies, saying that the conten- changed. Total Sales: Wheat:tion of certain Utility magnates was 18,581,000 bushels, Corn: 15.262,000 that disturbances in power rates bushels.

would affect the dividends of mil- lions of security holders, really only confuses the issue by falling to dis-

(Continued on Page 11.)

COTTON INDUSTRY tinguish between the securities of

IN BRITAIN

Abolition Of Surplus Spindles Planned

RUNCIMAN PREPARED TO SEEK LEVY

Companies operating on a sound basis and those of holding concerns, President Roosevelt and Major La Guardia of New York have been in

Tê

suing silver programme it cannot·· Įbe said, but London circles are very

hopeful that the plan will commend “

itself to President Roosevelt-Rou

Iter.

conference as a result of which the President arranged that the Mayor should confer with the Secretary of the Interior, Mr. H. L. Ickes with ļa view to arranging a possible Gov- ernment loan to enable New York City to build its own municipal power plant.

London, To-day. The methods for improving the Observers believe that similar! position and competitive power of loans in other cities are also possible. the cotton Industry, which will in-United Press, per S. E. Levy, and clude a scheme for the elimination Company.

of surplus spindles, was referred

to by the President of the Board of END TO GOLD IMPORT

n. Trade, Mr. Walter Runciman, in an answer to a House of Commons

H.K: Tramways $20.10 b., $20.15 Peak Trams (old) $12 'n.' Peak Trims (new), $7 n. Star Ferries $98 b.

Yaumati ›Ferries $2211⁄2 n.. (C. Light (old) $10.40_b.

C. Light (new) $10.15 b. H.K. Electrice $714 b. Macao Electrics, $25. Sandakan Lights $8 n. Telephone (old) $25`sa. Telephone (new) $10.70 b., #19%

18.

China Buses, Sh. $12.40 .. Singapore Tractions 4/3 b, Singapore Pref. $19/9 n.

Industrials.... Malabon Sugars, $8.70 p. Cald: Macg. (Ord.), Sh. $21 m. Cald: Macg: (Pref.) 820 n. Canton Ices $2.85 b. and sa. Cements $2.80 m2

H.K. Ropes #410 më” -

Stores, etc. Dairy Farms $24 n Watsons $5/nt 2 Lane, Crawfords $8.75 n. Mackintoshe, $21, naqad Sinceres $8nəvi a kingine Win, Powells, 70 cts, m Wing On (HK) $105 n.

Miscellaneous.

question yesterday.

MOVEMENT?

Wall Street Relief

SPECIAL TO CHINA MAT...

He said that he had promised that, if proposals for the elimina- tion of the surplus spindles received support from a sufficiently influen-

(By Talegraph, Copyright, Telegra tial proportion of the trade, he would be prepared to ask Parlia-Phio Messages Ordinance, 1894, Re

jceived December. 20, 9 am.). ment for a statutory sanction of} the collection of the necessary levy.

The scheme was based on

BD

New York, To-day.

XXXXXXX

gone

Everything

.. BUT YOUR SAVINGS

RENT

FOOD

CLOTHING

HEAT

TAXES

WATER

CHITS

SAVINGS

SAVE SOMETHING. START NOW UNDERWRITERS

SAVINGS BANK

FOR THE FAR EAST,

INC.

Arla® Life Bullding Hong Hoai.

Traders believe that yesters. It Insured? estimate of 30,000,000 running day's foreign exchange advance has terminated the gold import spindles.

movement. Traders on Wall The committee responsible for Street have heard that the Trea- the scheme stated that the charge sury has been actively buying would not impose an undue burden London silver

on the industry if it was spread equitably, over all the firms.

Administration officials have recommended that the Recon-]

Insurance All Classes LOWEST RATES

American Asiatic Underwriters

Fed. Inc. USA. General Agents

If however, they were unable to struction. Finance Corpn. assume Head Office borrow the necessary money on the all government direct loans to 17 The Bund security provided, the success of industry, eliminating the Feder the scheme was thereby endangered al Reserve Board..

United

it was hoped that the Government Press, per S. E. Levy and Co would find some way to assist them

to borrow the money. British Wire-f:

Less Service.

"FIRESIDE" SPEECH

DELAYED

Roosevelt Has Too

Much Work

SPECIAL TO CHINA MAIL (By Telegraph, Copyright, Telegra- phie Motaigos - Ordinancej: 1895, «Re- ceived December 20, 11:30 am.) |

Washington, To-day President Roosevelt has in dicated that he will probably not give his "Fireside address, before congresg convences,

due to stress of work, White House physicians state that the President's health is good, per- haps even better than before his

172 Tbs. auguration—he weigh President Roosevelt said that, he H.K, Govt. 4% Loan, 8% prem: b, is hopeful for an early,: HK Goyt 8

HK Amusements;: $234- Entertalaments; 371⁄2 na 3.C. Enterprises $1 Macao: "Greyhounds." $2 m Constructions (old); $2, ng Constructions (new) 75 cts. b. Vibro Pling $6.60 1.

Ch. Govt. 5% 1925 G$Bds—92%

We

8%% Loan 8% his definite plan to continue the steel prem bizon

Wallace Harpers $75.

nited Press, per S. E. Levy.

Company:

Shangħni

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 CANADIAN COMMODITY EXCHANGE,

CORRESPONDENTS FOR WHITE WELD & CO. NEW YORK 7 ICE HOUSE STREET, HONG KONG

20101 and 801083

!

H..K. Office Asia Life Building

Tel: 3023#

Address: Belco