1935-01-08 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

jatkojeni i sidla

**----*$50,000,000

bordent Falty Fald-up 20,000,000

£ 3.800,000

Miles ************** $10,000,000 Ear Dinkelity of Proprietors 30,600,000 HEAD OFFICE, HONGKONG,

Was

the

DAAD OF DIRECTORS.

J Mr. G. G. B. Mackin Charts,

Sil. Dudweß. Eng.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858.

Agencies and Branches:

HEAD OFFICE: LONDON

Paid-up Capital

Reserve Fond

.28,000,000 £8,000,000

Reserve Liability of Pro-

prietors

.ES,000,000

Alor Blue

Ballo

Rangoon

Anerlisar

Ipak

Baison

Bangkok

:

Ksenont

Setarena

BeLATIN

Klang

Beremban

the whethe

0. Minálu, Beg,

H. H. Morrison, Lae

Bomber

Bhanghal

T. E. Peuros, Kaq.

Kunia

Blogsport

Canton

Lamper

BELE

Carpor

Xunking

Caba

Hadra

Dotombe

Maolla

Delhi

Media

Tongkah

Haiphong

New York

lhuet

barg

Pelping

(Pating)

Telglas

Yakobars

Deputy Chairma

W. 3. ovens, Gesi

* M, Kowaleta Paj

AMUS BANULUя HALAVIE WADAY

BALADA

CANTON

101

DAIRE

MALPG

3. 1. Grayburn, Bag,

Calal Meanger>

BRANDURS-

LUNDON LYONG

BALAGOA

MANILA

MUAN (Johor)

MUKDEN

NEW YORK

PRIPING

PKNAKO

BANGOON

Hankow Marb

Bourabaya Telving

Zamboanga

Loan Loan

Tweise Kashange and General Banking bouisam

transacted.

Durrant Accounts spånad and Pired Depoalle ventral for 206 paar or abortar perioda at entai

which will be quoted in appilmilon,

BAKION

HAMBL

SAN FRANCISCO

KAMEOB

KUALA LUMPUS

A. BREARLEY.

Manager. Hong Kong, 1st. January, 1985,

HANDIA

BHANGHAI

MUNUKIW

SINGAPUHE

MUURABAYA

POU

BUNGEL PATANI

TIENTHIN

KOBE KoWinde

TUKYO

TSINGTAO

YO KUHAMA

blogated in Local Curra003

day inyorita focuired for one year of Mutta jonah Local Company and sterling

•ch will be quoted on application,

· April, 1994.

Bor

HONG KONG SAVINGS BANK.

The areas of the shote- Daak le conduct +NG KONG AND BHANGHAI

Bulan may

Banking CPURATION.

ved PRERÁTOR,

Pun lai j950 KUNG AND UHANDEIAL JANKING CORPORATION.

Y. M. GRAXBURN,

Chiat Sans par.

Kong gh February, 1984,

THE BANK OF EAST ASIA, LTD.

datkomuna. Caprial macrostream

Jakup Umpika

keverve devaded Prožte

$10,803,000.DU ...co.u $2,104,200.00

HEAD OFFICE-HONG KONG

1. De Voor Bond Cal

HCARD OF DIRECTORS (-

son Chow, Chairnies..

URL LAW, Food K. Kwok, Eng, Woog

740 TONE, bey, Chan Ching Bboy, Esq. Li a

SAFETY FIRST!

To Safeguard Your Valuables and Jewelleries.

Deposit them in a Vault.

that is really: FIRE-PROOF BURGLAR - PROOF DAMP-PROOF I

OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of Our New building in Specially Con- structed to provido all of these Im- portant qualities.

You may obtain a Safe Deposit Box in this most up-to-date Vault for your own use at a very moderate Ren- tal

|・・ Inspection Cordially Invited.

THE NATIONAL COMMERCIAL

& SAVINGS BANK, LTD. Carner of Ice House Street and Des Voeux Road, Central

THE CHINA MAIL, TUESDAY, JANUARY 8, 1935

Commerce and Finance

LOCAL DOLLAR DECLINES

Silver Prices Drop

The local dollar dropped this demand at morning opening on 1/8%.

Spot and forward silver prices also declined, being quoted at 21-9/10 and 24-11/16, respective- ly.

The London on New York cross- rate was quoted at U.S.84.91% as compared with £-U.S.$4.92%.

The New York on London rate was quoted at U.S.$4.91%, as compared with

U.S.84.92.

LOCAL SHARES.

TO-DAY'S QUOTATIONS.

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

Bankon,

H.K. Bank $1620 8.

H.K. Bank (London) £138 m............. Chartered Bank 15% n. Mercantile Bank, A. & B. 492 n. Mercantile Bank C. $131⁄2 n. Bank of East Asia $90 z. Am: O. Finance Corp., Sh. 120 m. -China O. Fin. Ord, Sh. $1.80

China O.Fin. Pref Sh. 54% në

Insurances.

Canton Ins. 8276 n. Union Ins: $5121⁄2 s.

RAW RUBBER PRICES China Underwriters $1.20

Latest Quotations From

Singapore

Messrs. II. B. Joseph & Co. have received the following Straits Cur

(Buyers) from rency quotations Singapore for Raw Rubber:

Spot 22 up 18. April-June 244 up %. July-September 26 up 4. Market: Steady.

MOTOR INDUSTRY IMPROVEMENT

China Fire Ins. $520 në H.K. Fire Ins. $240 n. International Assce, Sh. 8 n.

Shipping.

Douglases, 40 m. `H.K. Steamboats, 37 n. Indo-Chinas (Prof.), $80 Indo-Chinas (Def.), $38 m. Shells (Bearer) 50/ n. Union Waterboats.

Mining.

Antamoka 84 cts. b., 85'cts, sa. Balatocs $38 m Benguet Consolidated $141⁄2 n. Benguet Exploration 21 cts. n. Benguet Goldfield, 20 cts. n.

British Advance Likely Big Wedge, 10 cis, n.

To Continue

London; To-day.. The British Society of Motor Manufacturers record a steady

THE BANK OF CANTON, LTD. Increase in production during the

Established 1912.

Hand Ofco:-Hong Kong.

Jang Erg. Wong Chu Sea, Reg. and Han Yi Authorised Capital

fa, Zeq.

4moy

Rate-is

Ein Toug 30, Kay.. Chlef Manager. Live Your Baja Manngst.

BRANCHES AND AGENCIES :--,

Alačila 30alboorca Nagasak!

Beatlie

Semarang

Bombay

Calopata

Naw Zork

Cartoo

0-aku

Kupang

Hatti

Shanghai Bingspoes Bogrimyn Bwntow

Kaskom

V.sping

Буслоя

Honolulu

Paang

Taikoin

Kowloon

Saigon

as Tokyo

Tokokame

VADOWY Ban Francisco Every desorptice at Banking and Exchang

kim troubled. Loans granted sa apprond Mouri.

Current Accoua apsted in Lol Curs

A Fixed Deposit received for on your

abo pustod in Local and Foreign Currencies

teras which will be quoted on application, Bale Theposit Boxes To Let,

KAN TONG PO,

Hong Kong, at March, 1984.

Chief Manager.

THE BANK OF TAIWAN, LTD.

Paid-up Capital

Total Rewarcos

8,835,000

past year, when 256,866 private cars and 85,683 commercial vehi $11,000,000 pared with 220,779 and 65,508, cles were manufactured, as com-

82,170,492 yesterday, in the previous year. Branches: Canton, Tolahan, Shanghai, The export trade also increas- Hankow, Bangkok & San Francisco. ed, but not sufficiently to satisfy London Bankers: Lloyds Bank, Ltd., the manufacturers.

Foreign Exchange and Banking

The anticipate that their ex- business of every discription- İTREE

port trade..will be greatly helped acted.

Current Accounts opened and Fixed by a 25 per cent. reduction from Deposits received for one year or the beginning of this year in the Rhorter periods at rates which will be British Horse Power tax, which quoted on application.

Safe Deposit Boxes (various sises) should increase the Home demand

hire.

LOOK. POONG SHAN,

THE

*Chial Manager.

for bigger cars and thus enable reductions in price to be made both for the Home and the export Itrade. British Wireless Service.

AMERICAN EXPRESS COMPANY, BRITISH RAILWAYS

INC.

Head Office: 65, Broadway, New York

Capital **** Surplus Reserves

_Head (Geo-Taikoku, Formosa, Incorporated in Japan by Specia Imperial Charter, 1889. Central Bank of Fermosa, Notas

Issued Average amount 7.45,000,000 Branches and Agencies.. Japan:-Kobe, Osaka, Tokyo, Yoko-

hams. Keelung, Makong, Nanto, Albane Shoku, Shinchiku, Talchu, Tainan, Taito, Takao, Temaul, Toen, Karenko Kagi, Helto, Giran.

„U.8.$8,000,000.00 ****** 2,087,119.69 1,995,528.81

Falpin Falot kon Rotterdac Home Hingha -Routhampton

BRANCHES:

Amsterda

Chica Glagow

А

Kavaza

Milan Ning Naples Fires

Вели

Barlin

Bombay

floati

Bambarg Hlavo Heidelberg Interlaken

China: Amoy, Canton, Foochow, Han-

Brussels

Jazuralem

kow, Shanghal, Swatow,

Caira

London

Others:-Bumbay, Hong Kong, London,

Calessin

Liverpool

Caunas

Lehe

Batavia,

Colombe

Lugano

Copsubagen

Cantor

Palin Ellaborgh Mocia Carle Florance Genera

Marsellino

Maolla

Munich Monkod

Venice Tolbama Kurich

New York, Singapore, Samarang. Soerabays, Dairen. On and after April 20th, 1934, the rate of Interest on Special Corrent

·Depoalt will be at 14% p.a. on daily; 'balance and the rate for balance over 110,000 will be quoted on application (Maximum rate-1),

Hong Konx Branch

Y. OHNO,

Manager.

3. Des Voeux Road, Central,

Stagspora Alatile

Branches of American Express Com

Big Advance Shown In Past Year

London, to-day. According to published returns, a good recovery in the gross revenues of British railway companies occur red last year, this result being at tributable to the greater trading setivity and to the Increased spend-

ing power.

The estimated traffic of the four principal railway groups amounted to £148,890,000, this being an in- crease of £5,035,000 on the previons, year,

The figures began to improve about half-way through 1988- British Wireless Service.

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

All classes of Commercial Banking Transactions undertaken.

THE YOKOHAMA SPECIE BANK Personal investment accounts

LIMITED.

Ketablished: 1880

Capital (fully paid-up) Yen.100,000,000 Beserve, Fund

Ten.124,250,000

Hrad Office:-YOKOHAMA

Branches and Agencler at: Alexandria

Batavia,

Berlin

Bombay Calcutta Canton

Ranków

>(Dalny)

**Nagasak! Nagoya

New York

Osaka

Paris

Peiping

Rangoon (Mukden) Rio de Janeiro

San Francisco

Seattle

Harbin

Semarang

Hong Kora Honolulu Hainking Karachia Kabe

Shanghal

Singapore

Boerabaya Bydney

Tokyo

handled,

LIMITED

(Incorporated in China) Head Office. Shanghal- Capital Reserve Branches....All Important Gilles

*$7,500,000.00 $1,500,000.00

Martin China

The Company offers to intending Travellers the use of its "Travalets & Foreign Exchange and General in addition, the world-wide services Current and Saving Accounts opened Cheques" and Letters of Gredit and, Banking Business transacted. tips

its thoroughly equipped Travel De- and Fixed Deposits received for one partment.

year or shorer periods at rates which will be quoted on application. So,

SOU Z CHANG, #20 Manager. HONG KONG BRANCH:

-W. DUGGAN,

Manager,

THE WING ON BANK, LTD. TONG TONG

Authorised Capital $10,000,000

Foreign

Business of every destr

Ourent,

Deposits Togelved

Fixed Depos

or shorter

bs quoted"

No 24, Des Voeux Road, Central

Manager's Office fro500 Tel.: 83545. Foreign Exchange Dept.

General Office

Cashier's Office

Gold Creek 82 eta. n. Gold Rivers 21 cts. n. Ipo Mining $1 n. Itogans, 42 cts. D Salacota 16 cta. n. Kailan.19/

.

Langkats (Single) Sh. $15 n. S'hai Exploration Sh. 85 n. S'hai Loans, Sh. $8 n.. Raubs $10 n.

Venz; Goldfield, 35′n..

Docks. etc. v.

ROOSEVELT'S BUDGET MESSAGE

Total Expenditure Of $8,520,000,000

NEW PUBLIC DEBT RECORD

WASHINGTON, YESTERDAY.

NEW ADVERTISEMENTS

THE

THE NEST

Notice of Transfer

E business carried on by the undersigned under THE NEST Poking Road, Kowloon, has been transferred to Mr. J. Russell, wha will continue to carry on the bust- ness and be responsible for all Debts and Liabilities 18 from January 1, 1986. Produce from

THE BUDGET, SUBMITTED BY PRESIDENT ROOSEVELT The Nest, Sheung Shui, will only be TO CONGRESS, CALLS FOR A TOTAL EXPENDITURE OF distributed from the shop in Peking U.S.$8,520,000,000, FOR THE FISCAL YEAR BEGINNING JULY Road, 1,1935, WITH ESTIMATED RECEIPTS AT US. $3,992,000,000. THIS WOULD MEAN A DEFICIT OF $4,529,000,000 FOR THE PERIOD, THUS PUSHING THE PUBLIC DEBT OF JUNE 30, 1986, TO AN ALL-TIME HIGH RECORD OF US.$84,239,- 000,000.00 E

GRACE ELLIS, Hong Kong, 8th January, 1985.

TH

THE NEST

Peking Road, Kowloon.

THE business as carried on under the name of The Nest, Peking

BE THE NEW DEFICIT WOULD BE FINANCED BY USING U.S.$740,000,000-FROM THE TREASURY'S WORKING BALAN- [CE AND BORROWING U.S.$8,789,000,000. ESTIMATED EX- PENDITURES FOR THE PRESENT FISCAL YEAR ENDING JUNE 80, TOTAL U.S.$8,581,000,000, WITH RECEIPTS AMOUNT-] ING TO US$3,712,000,000, WHICH WILL RESULT IN A DE Road, Kowloon, has been taken over FICIT OF U.S.$4,869,000,000, AND THE PUBLIC DEBT ON by me as from January, 1, 1935 and JUNE 30 WILL TOTAL U.S.$33,000,000,000.

we will continue to handle the Pro- ducts of THE NEST Sheung Shuf.

NEW YORK STOCK

MARKET

Budget Deficit Has

Little Effect

GOVERNMENT BONDS AND JUNIOR ISSUES STRONG

The President wrote, "In last. The continued patronage of all cus year's Budget message, speaking tomers is earnestly solicited,

of the fiscal year 1986, I said that we should plan to have a de-l finitely balanced Budget for the third year of recovery and, there-

JOHN RUSSELL. Hong Kong, 8th January, 1985.

after, seek a continued reduction xxxaxaxaxax

of the National Debt.".

"In spite of the substantial measure of recovery achieved since, unemployment is still large. States and local units now provide a smaller ✨ proportional share in relief and the Federali The huge deficit shown in the Government, therefore, is called United States Budget seems to upon to continue its aid. For this have had curiously little effect reason, it is evident we have not on the Stock Marketa, intelligent yet reached a point, at which a anticipation having probably dis-complete balance of the Budget counted its adverse influence. In-can be obtained."

deed, the general tone of the ** TAXES. HELD NECESSARY market is good.

"While I do not consider it ad-

Everything

*

gone.

BUT YOUR

SAVINGS

8. E. Levy And Company's Report (visable at this time to propose In their market report, Mesara any new or additional taxes for S. E... Levy, and Company, corres-the fiscal year 1986, I do recom- pondents for Messrs.. White. Weld mend that Congress take steps and Company, New York state: by suitable legislation to extend "Stocks: The recurrence of the miscellaneous internal revenue H.K. Wharves $110% b., $112 s. huge deficit in the Budget presented from taxes expiring next June, HK Docks, $12 n. Providents (old), 31:40 n.. Providents (new), 50 cta. n. Hongkewa; Sh. $309 ni New Engineerings, Sh. 35% n. S'hal Docks, Sh $120 m.

Cotton Milla. Ewo Cottone Sh.884 n.. S'hai Cotton (old) $74 n. S'hal Cottons (now) $44% n. Zoong Sings, Sh. $0.40 n. Wing On Textiles, Sh. $55 a.

Lands Hotels, etc.

to-day might have affected the mar and should also maintain the cur ket more, but we expect that such rent rate of these taxes, which lack of balance was pretty much will be reduced in June. I con anticipated. The narrow swings insider that such taxes necessary 0 prices on the market gave little in-for the financing of the 1995

H. and Hotels $54 18. H.K. Lands $54% 0.

H.K. Lands 4% Debentures 100%

3.

Shanghai Lands 8h. $2434 n. Metropolitan Lands Sh. $12.20 Humphreys 49%/* *n!* HAK, Realties 851⁄2 n.. Asia Reaitles "A" Sh. $100 p. Asia Realtlis "B" 8h.#20 n. Chinese Estates $88. China Realties, Sh. $124 n. China Debentures Sh.$128 n,

Public Utilities H.K. Tramways $20

70 sa.

dication of the next minor, swinga. Budget." summarising the

After briefly

It is the general view that long atocks would hold here, but we are concluded as follows

economic situation, the message":" not inclined to increase holdinga at

"It is my belief that a substan-1 this level. Business'done:-1,290, tial adherence to the general re- 000 shares.

commendation and figures pre- "Bonds: U.S. Government bonds sented will accomplish three ma-x were better, while high grade issues for objectives:

were up fractionally. Junior grade Firstly, the normal functions issues were strong and look as if of the United States Government they will go higher. Second grade can be carried on with economy [bonds were up...

and a high standard of efficiency. "Grains: Flour sales were better Secondly, the broad obligations and cash markets were strong of the Government to use all pro- There was some buying in anticipa per efforts in view to prevent tion of a bullish farm reserves re-destitution can be maintained port. Wheat: Total sales:-12,756,-lunder more practical methods 000 bushels; Corn: Total sales: than are used at the present time 6,606,000 bushels,"

Thirdly, the excellent credit of "Cotton: We expect a consistently the Government will be maintain- broadening demand in American ed for the common good."""

[BUM FOR WORK CITEATIONS, staple and higher prices on reas b, $20.60/tions, which are likely to be moder-

afe and short-lived.free m (Continued on Page 10)-

Peak Tram (old) $12 n. Peak Trams (new); g

Star Ferries $100 % 1.

Yaumati Ferries $22 n.

C. Light (old) $10,45 b., $10:45 8. SUGAR REFINERIES

C. Light (now)

H.K. Electrics $72-b. Macao Electrice, 325 m. Sandakan Lightn 39 n. Telephone (old) $25.80 8. Telephone (new) $111⁄2 sa. China Buses, SE, $12.40 n. Singapore Tractions 4/6 b. Singapore Pref. $17/9 n.

Malabon Sugars, $8,70 m.

Med Industrials

Cald Macg, (Ord.), Sh. $20 n.

Canton Ices $2.85 n. Cald: Macg. (Prof.) Sh$19%

Cements $21. H.K. Ropes 4-m Stores

Dairy Farms $241⁄4 n. Watsons $5 n

Lane, Crawfords $8.75 a

Mackintoshs,121312.

Sinceres $8 n... Win Powells, 70 cts. n. #Wing. On (H.K.), $103 n.

88506

88567

88509

THE SHANGHAI COM

#& SAVINGS BANK

3.0. Enterpris

Misce H.K." Amitemti

IN CANTON

First Manufacturing

Station Opened

It is estimated that the: 1986; expenditures for recovery and relief are placed at U.S.$4,110 000,000: President Roosevelt re commended a Congressional ap propriation of U.S.$4,000,000,000 cipally for the creation of work. in one sum, to be allocated prin-

RENT

FOOD

CLOTHING

HEAT

TAXES

WATER

CHITS

SAVINGS

SAVE SOMETHING

START NOW UNDERWRITERS

SAVINGS BANK

FOR THE FAR EAST,

INC

Asia Life Building Hong Kon

Tel. *80254

Is It Insured? ?

Insurance -- (Ali Clanger

- LOWEST RATES

American Asiatic Underwriters

Fed. Inc., USA General Agents

While estimating the substan- tial increases in income tax and estimated that Customs receipts Head Ofice Internal revenue receipts, it is]

for 1935 will be decreased by about US$26,000,000, as comper 17, The Band led with 1984, which is due to the The Sincho and Sheltow sugar Cuban Sugar Agreement and the refineries of the first sugar manu-foreign trade situation generally. facturing station of the Canton-Reuter District were formally inaugurated

Canton, To-day.

on Saturday last. S

There were over 1,000 people present. Among the many noted. personages seen were Mr. Lin Yuan- kal Chairman of the Kwangtung Provincial Government, Mr. Liu Chi-wen, Mayor of Canton, and Mr. Ho Chih-lal,

Mr. Lin, after first officiating af the op of the Sincho refinery, went on to the Sheftow

After Mi

[the

Lin

delivered

ches gold keys to

Ing into

Press

LONDON SILVER

Shanghai

S. E. Levy & Co.

ERWRITERS AND DISTRIBUTORS

CURITIES » AND COMMODITIES HOUGHT AND. FOLD ON COMMISSION

DAILY NEW YORK STOCK AND

COMMODITY SERVICE =

Members:

NEW YORK COTTON EXCHANGE HODITY EXCHANGES

GO BOARD OF TRA

IAN COMMODITY EXCHANGE,

PONDENTS FOR

CO NEW YORK

STREET, HONG KONG

H. K. Offcé Axis Life Baiking

Tel. 80254