1935-01-16 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Ahland Capitat-mommomana........ $50,000,000 Looped and Fully Puid-up

20,000.00 Reserve Funda s --

Bag 4 SONGS INT £6,500,000

BOARD OF DIRECTONS, Bon. Mr. 0. G. 3. Machin

Chairman,

8. H. Dodwell, Bag, 'Deputy Chairman,

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA..

Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON Paid-up Capital

$10,000,000

Messers Liability of Proprisions

$20,000,000

£8,000,000

HEAD OFFICE: LONGLONG.

Reserve Fund

.£3,000,000

Reserve Liability of Pro

prietors

.£8,000,000

Agencies and Branchen:

Alor Blar

Holle

Rangoon

Ampriteer

Ipoh

Hangtor Balavis

Xiao

•Boubay

∙Kobe

Caloutta

Exala

Canton

-Lumpur

Cawnpore

Kuchlar

Boursbays,

Cebu

Madra

Colombe

Talplog Tiebiai

DUE

Medan

Toa kab

Huphong

Haw York

Pulplar

WADZON

Hon Mr. W, 1. Bell.

4. Lampion, Esq.

W.3. Keswicky Eng.

1. 12. Knight, Eng

AMOT

BANGKOK

BATAVIA

BOMBAY

CALCUTTA

DANTON CHEFOO COLOMBO

DAIDEN FOOCHOW KAJPHUNG

HAMBUIKI

KANIOW

LANDIN

U. Mario, eg.

K. 5. Morlaan, Pag

1. E. Felice, Leg

T. M. Graybars, deg.

HONOKEW.

ILOILO

IPOE

КОВЕ

JOHORE

IOWLOON

Chief Manager.

DRANJILES:-

LONDON

LYUNB SLAGACCA MANILA

MUAR (Jabar) MURDER

NEW YORK PEIPINO

PENAKU HARRAUUN

BALOON

BAN FRANCISCO

KUALA LUMPUR

SHANGHAL

BUNDEL PETANI

SINGAPUR

SOUHLADAYA

TIENTBIN

TUXTO

THINGTAO

Curreal Accounts opened in Local Currands

ced Pized Deposlis recuival da se shorter periods in Local Company aud

Serm which will be quoted in application.

Hong Kong. kênh Apel, 1991.

HONG KONG SAVINGS BANK.

The Business of the above Bak onduak

by the HONG KONG AND BRANUBAI

BANKING CURPURATION...... Bulan may be pbtained to application

FOR THE HONG KONG AND ыMANOWAJ JANKING CORPORATION.

V. M. OBITBURN,

Chist Manager:

Hong Kong, 9th February, 1686.

THE BANK OF EAST ASIA, LTD,

Anshorised Capilei -up Capital ............

--||10,J0BG, DUO.CU)

deserta kun kindivided. Profits manu§1,184,90GLD)|

HEAD OFFICE;-HONG KONG

11. Das Vaur Boad Casiral,

BOARD OF DIRESTON—

Si Saodson Chen, Chunull.

La Komi Chou, Esq., F. K. Kudi, Esq, Wool Yea Tong. Bej, Chan Ching Kit, Haqu Li Lama Sang, Esq., Wong Chu son, Zaq, and "Kan Ying

Baloris

Jocabay

جماعية

Has Tong Re, Eng.. Chile! Woonguri -

14 The Foug." Mag, ManaNÍ.

BRANCHES AND AGENCIES |-

Jaučia

la le

M

depart

Negaki

Lacquiin

Aw York

thaka

Haiphong

Parin

Нацко

Paying

Bucelula

INDE

·hauptor

Kowloon Leton

Ninagkai kingspers Surabaya.

தப்பார்

fusin

ول

den Franciou – SYLBouvar Tekobe

Hamburg

transacted.

INDEBR

Balcon Beitrang Betembex Shanghal Magapore Bitwan

(Bhudor). Teisgao Takrbums Esiaboanga

Isab Hoor Koc

Foreign Exchange and Onsers Banking but Curreas Accouale opened and Fixed Depoel received for one year or shorlar periods at which will be, quated an application,

A. BREARLEY.

Manager. Hong Kong, 1st. January, 1935.

SAFETY FIRST! To Safeguard Your Valuables

and Jewelleries. Deposit them in a Vault that la really: FIRE-PROOF BURGLAR-PROOF DAMP PROOF!

THE CHINA MAIL WEDNESDAY, JANUARY 16, 1935

and

Commerce

Finance

NEW YORK STOCK MARKET

"Gold Clause" Cases Cause Uncertainty

TREASURY WILL STILL PAY

$35 PER OUNCE :

Some uncertainty still prevails as to the outcome of the "gold- clause" case now being tried in the Supreme Court, and the un- willingness of the banks to risk gold purchases has caused heavy speculative selling of stocks. S. E. Levy And Company's Report In their market report, Mesura. S. E. Levy and Company, corres- pondents for Messrs. White: Weld. and Company, New York, state:-

*Stocks: There was heavy specu- lative selling of stocks, induced by the failure of banks to risk gold purchases owing to the present uncertainty. The unsettled condi- tions are likely to be prolonged, though any indication of the Banks or Treasury being willing to risk located on the Mezzanine Floor of such purchases would have rapid Our New building is Specially Con-repercussions in the market, parti atracted to provide all of these Im-cularly in metal stocks. Business portant Qualities.

done:-1,870,000 shares..

OUR SAFE DEPOSIT VAULT

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

1

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

Bonds And Commodities "Bonds: Government bonds were up fractionally, while second grade and juntor Isaues were weak,

"Commodities: We believe that nervous and hasty speculative liqut- dation has been overdone, and any encouraging news would result in a fast recovery. in prices."-Reuter.

The following telegrams were re-

THE BANK OF CANTON, LTD. ceived by Messrs. S. E. Levy and Co.

Established 1912.

Head Office: Hong Kong,

Authorised Capital Paid-up Capital Total Restirees

from Reuter:

Favourable factors prior to the opening of the N.Y. markets in $11,000,000 cluded:-(1) The increased activity 8,655,000 of milla. (2) Heavy melting steel 82,170,492 Branches: Canton, Tolahan, Shanghai, scrap at Pittsburgh advanced by 50 Hankow, Bangkok & San Francisco, cent per ton. (3) With nervousnesa London Bankera: Lloyds Bank, Ltd. over the Gold Clause case having to Foreign Exchange and Banking a large extent subsided, there were bustness of every discription trans indications of considerable buying facted.

Current Accounts opened and Fixed interest under the market. Deposita recorrad♬ for one year or Unfavourable factors(1) Indi- shorter, periods at rates which will be cations that the market is going quoted on application.

Safe Deposit Boxes (various sizes) stale, pending the decision of the

Gold Clause case.

Every desorption of . Banking sat Exchang business scousasted. Losas granted on approvifor hire.

Juries.

Curmat

Assouria opewed, in Loval Currena sad Plaid Deposits sscnivad ise one your shorter periods in Epoxi and Yodiga Currencies

term which will be quoted co uppifomilon. Bain Imports Joxen la lan

KAN 1080 FO,

Calf Manager.

Hong Kong, la) Karch. 1984.

THE BANK OF TAIWAN, LTD,

Head Ofco-Talkoku, FormosR, Incorporated in Japan by Special Imperial Charter, 1899.

Central Bank of Farmora, Notes

issued Average amount Y.45,000,000

Branches and Agendes.

LOOK POONG KHAN,

THE

Chis? Hang.

AMERICAN EXPRESS COMPANY, INC.

Head Office:-65, Broadway, New York

Capital Surplus

Reserves

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

hama, Keelung, Makong, Nanto Antwerp Shoka, Shinchiku, Taichu, Tainan, Taito, Takao, Tamani, Toth, Karenko Kagi, Heito, Giran.

Athens

Berli

AIDER Heathe

Tombar

China: Amoy, Canton, Foschow. Han

Herrasola

Calro ..

"deuts

.UI.8.$8,000,000.00

2,087,112.59 1,895,528.81

(Continued on Page 7)

THE MERCANTILE BANK OF INDIA, LTD.

HEAD OFFICE:

* 18 Orsonchurch Steel, London, ECA.

Authorised Capital

Subscribed Capital

Paid-up Capital

Reserve Fund & Rest+1,247,482

The Bank of England Midland Bank, Lid.

NJ Tork

£8,000,000 1,800,000 1,050,000

BANKERS1

BRANCHES:

BRANCHTS:

Bangkok

Banbur

Hilaa Niew Naples Pira Parta Peipia Prierma

ipol Kandy

ALING STERE

Dail

•Kuala Liple

Cale

Kuala Lum

Hong Koog

HOWIN

Retterdam Bikin Sheh

Banca Otsaga

Ravana Hamburg FSTED Haldolberg Taterlaken kow, Shanghai, Swatow.

Terasalem Others: Bombay, Hong Kong, London.

London Liverpool New York, Singapore, Batavia, Cannon Semarang, Seerabaya, Dairen.

Colombe Logano

Luzo Copenhagen On and after April 20th, 1034, the bile rate of Interest on Special Current Edinburgh Deposit will be at 14% pa. on daily Ger balance and the rate for balance over $10,000 will be quoted on application (Maximum rate-154).

Hong Kong Branch

Y. OHNO,

Manager.

3. Des Voeux Road, Central.

Plan

+

Resthampto

Singapor Tontila

Taormina

L'ENCRETIONÉ

1

Rangoon.

Bb4orbal Blogspots

Kuantan (Fabang) Binle Mudras

ECKO KONG BRANCH

Every description of Banking and Exobangs bonis, a oled.

Travalam Cheques Isabed.

Trustee and Executorships under- taken.

INTREEST allowed on Current Accounts and Pland Deposits at Hates that may be seerialand du applesom.

7. 11. ROSS,

Itarsi

Monte Carlo

Stanila-

Mons

Vienna -Vanlos

Torchama Zurio

Manager. [* Guna's Road Osotesk.

Hong Kong, 12th June, 1934.

Montreux

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

All classes of Commercial Banking fransactions undertaken.

THE YOKOHAMA SPECIE BANK. Personal investment accounts

· LIMITED,

Established 1880

Capital (fully paid-up) Yan.100,000,000 Meserve Fund Yen 124,250,000

Head Office-YOKORAMA!

Branches and Agencies' at: Alexandria

Nagankl Nagoya New York Osaka

Batavia

Berlin

Bombay

Onlcatta

Canton

Dairen (Dalny)

Paris

Pelping Rangoon

Fongtian (Mukden) Blois Jenetes Hamburg

Hankow

Barbin

Hong Kon

Honolala Brinking Karachi

Kobe

London Los Angeles Manila

San Francisco Seattl

Semanng

Shangha

Singapore

Sydney

Soerabaya

handled.

The Company offers to intending Travellers the use of its "Travelers Cheques" and Letters of Credit and, addition, the world-wide services its thoroughly equipped Travel De

partment.

E. W. DUGGAN,

Manager,

THE WING ON BANK, LTD. HONG KONG

Authorised Capital $10,000,000.

Foreign Exchange and Business of every description tra

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

be quoted on application, visa

Safe Deposit Boxes" (various.

for hire. M

*}***** PHILIP GOCKCHIN

www.Chief Manager. GOCKOHIN

BALI SHU TONG

Assistant

LOCAL SHARES.

TO-DAY'S QUOTATIONS.

SHANGHAI STOCK COMMODITY PRICES

MARKET

Little Business For First Days Of 1935

A.0.F.C. COMMENT

The following quotationa have been received by Messrs. S. E. Lave and Co, and the A.O.F.C.

Shanghai, Jan. 9. May

The advance at the local stock July

12.95'

3

Jan. 14. Jan. 15. Closing Closing

New York Cotton- January March

12.39 12.29 12.49 12.39 12.56

12,43

12:55 12/1

The following is the list of local session of the past year and mem-December share quotations issued to-day:

Banks,

exchange was small at the last October (1985)

12.43 12.30

12.50

12.95

bera did not appear to be in a very Spot... enterprising spirit; accordingly New York Rubber: the business recorded was of a January

12.85

12.55

13.18

negligible quantity.

March

13.40

18.10a

13.58

13.21

18.77.

18.40

18.96

13.55

a few debantures changed hands. October Shanghai Telephone 5 per cent. Chicago Wheat:- debentures reached 396 cash: May Shanghai Power Preferred were July done at $182.50 cash with dividend September and $130.50. ex-dividend

14.05

18.58

98

951⁄4

90

86%

88%

844

Chicago Com:-

88%

841⁄2

83

.79%

794

75%

82

H.K. Bank $1596 6. H.K. Bank (London) £189. n. Chartered Bank 15% n. Mercantile Bank, A. & B. 652 Mercantile Bank C. 18% n. Bank of East Asia 190 m. Am: 0. Finance Corp., Sh.820. China O. Fin. Ord., Sh. $1,80 n. China O. Fin. Prof Sh. $4% ..

· Insurances.. Canton Ins. $275 ni Union Ina. $500 n: China Underwriters $1.20 b. China Fire Ins. $520 n. K.K. Fire Ins..$230 n. International Assce. Sh. $5 n.

Shipping.

Ra.

1

+

When the market re-opened on May January 4 there was only a small July

Amount of business done and only September

Saturday's half-day session pass-May led off quietly, with little variation

July in prices. Among the few trans September actions recorded were £6,000 Chin-Winnipeg Wheat:- ess Government 6 per cent. 1984 May at £100 and $16,000 Power Com-July pany 51% debentures at 92.

There was more activity display-March ed on Monday in the general mar- May ket. International. Assurance, ¡July

New York Sugar:---

after having been in the back- September ground for a long time, came to New York Silk:- business at 4.76, at which price 500 March shares changed hands: 500 Ewos May cts were done, at 8.90, 300 Shanghai July

Water Works 6 Preferred at 15 Montreal Silver:— and odd lots of Shanghai Power 6 March per cent. Preferred at 180.50. All May of these transactions were for cash. July

The debenture market continu-September ed to be easy owing to the tight-

Douglases, $40. HK Steamboats, $74. Indo-Chinas (Pref.), $80 n. Indo-Chinas (Def.), $38 m. Shells (Bearer) $50/71⁄2 n. Union Waterbeats 184 n.

Mining. Antomoks 95. cts. b., 92/96

Balatocs $41 b.. Baguio Gold $37 cts. h., $38 sa. Benguet Consolidated $14% n. Benguet. Exploration 18 cts. b. Benguet Goldfield 18 cts. n. Big Wedge, 10 cts. n. Gold Creek 381⁄2 cts. b. Gold Rivers $25 b. Ipe Mining $1 r. Itogana 42 ets. n. Salacots 16 cta. n. Kailan 19/- 0,

Langkats-(Single) Sh. 815 u. S'hai Exploration Sh. $5 n. S'hai Loans, Sh. $6 n.. Raubs $9 n.

Venz; Goldfield $5-n.

Docks, etc. H.K. Wharves $111% b.. H.K. Doeks $11% n. Providents (old) $1.40 n. Providents (new), 50 cts. n.. Hongkews, Sh. $309 New Engineerings, Sh. $54 0. S'haf Docks, Sh. #120 m.

Cotton Mills, Ewo Cottons Sh. $8.90, n. S'hal Cotton (old) $74 n. S'hai Cattons (new) $44% n. Zoong Singa, Sh. 89.40 n. Wing On Textiles, Sh. $55.

Lands, Hotels, etc. H.K. and S. Hotels $5 b. H.K. Lands $511⁄2 8a. ・・ H.K. Land 4% Debentures 100%

b.

Shangha! Lands 8h. $24%1⁄2 n. Metropolitan Lands Sh. $12.20 Humphreys $9%.n.

H.K. Realties $5.10 ̧b.. Aala Realtles "A", Sh. $100 n. Asia Realties "B" Sh$20 r.. Chinese Estates $12 n. China Realties, 8h. $124. China Debentures Sh.$128 n.

ד'

Public Utilities.

H.K. Tramways $20,45% an. Peak Trams old) $11, s. Peak Trams (new), $7 a. Star Ferries $100 n. Yaumati Ferries $22 n.. C. Light $10.35 b.. H.K. Electrics $121⁄2 s. Macao Electrics," $25 ́n. Sandakan Lights $8 n.

THE CHINA & SOUTH SEA BANK, Telephone (old) $25.35 ɓa,

LIMITED

(Incorporated In China) Head Office...Shanghai Capital Reserve

**$7,500,000.00 ".$1,500,000.00"

Branches All Important Cities

in China Forsign Exchange and General Banking Business transacted,

and Fixed Deposits received for one Current and Saving Accounts opened

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

ABOU.Z. CHANG;

[ Manager. HONG KONG BRANCH: 24, Des Voeux Road, Central. Manager's Office Tall: 88568 Foreign Exchange Dept. 88568 Geneal Office FATALNAVN: 88567 Cashier's Office ›

83569

THE SHANGHAI COM

&SAVINGS BANK LIMITI

(Incorporated i Capital pald Reserves Capital Reserve

A Bia

Lindustri

ness

of money. $100,000 Shang-|: hai Water Works 6 per cent. 1932 changed hands at 99 and about $45,000 Shanghai Power 5 per cent. at 91 and 92.

Bonds' Steady Decline Steady declines featured the Chinese Government Bond Market on the first trading day of 1985, indicating no relaxation in the stringency of the money markets. For several issues the movement reached substantial proportions, as the net losses amounted to nearly a point.

Further signs of pessimism were found in the heavier losses for February figures as compared with current month quotations,

The market continued to Bag lower on the next day. At one time the losses were as high as one point, but a reaction at the last, session reduced them by, an appreciable amount. The general tone remained weak and only 3

MARKETING CHINA'S SILK PRODUCTS

Factories Co-Operate In Selling Scheme-

CHINA TO LEVEL UP TO

JAPAN AND INDIA

Nanking,

With a view to bringing Chinese falk to the same level in the world'

market with the Japanese and In- dian product, fourteen silk fac-. torles in Cheklang and Kiangsu have devised a co-operative scheme for the establishment of what may: be called a joint management.

This scheme is understood to have been reached through the ad-' vice of the National Sericultural Improvement Commission of the National Economic Council and the [reconstruction departmenta. of Cheklang and Kiangsu provincial governments.

It is clear that the purpose of this acheme is two-fold, namely: (1) to effect a unified management 803%

over these 14 factories, with 82% 814

special reference to the purchase of cocoons and the dyeing and de- 1.91 1.84 1.88/88 signing of silk, so na to adapt it 1.93 1.89 1:91/92 to the needs of foreign countries, 1.97 1.94 1.96/97 and. (2) to devise ways and means. 2.01 1.98 2.01/01 of pushing the sales of Chinese silk

abroad,

1.392 1.352 1.89 1.86

1.36%

1.89

54.80

64.76 65,40 55.60 56.16 55.80 56.74 56.26

B-asked.

LONDON EXCHANGES

London, Yesterday.

74 27/82 *4.85

4.844-

21.10

Paris New York Montreal

Brussels Geneya

15.26

Amsterdam

.7.30 .:.57% 12.26 19.90%

118. 86%

515 sellers'

485

Milan Berlin Oslo

: Prague Madrid Athens Bucharest Belgrade Montevideo Bombay Hong Kong.

Other rates unchanged. 'Silver Spot

Forward

War Lean 32%

Joint Management Only The planned joint management, however, must not be taken to [mean that the 14 factorias contri

bute capital for the establishment of a new and separate factory. It. means merely a joint management and unified control over the pro- duction of silk of the 14 factories, with the understanding that any profit or loss incurred will be the concern of each

As particular attention is to be paid to the question of marketing, the combine, to live up to its pur- pose, will despatch special sales- men abroad to push the sale of its production, it is understood.

It is also learned that branch offices of this joint enterprise will be established in 'Shanghal, Hang- chow, Chinklang, and Wugih all noted silk-producing centres in China Central News Agency,

216 EXCHEQUER RETURNS

4:8.0.

1/6%

179%

24-8/16

24: 11/16 109%

small gains were registered Britlah Official Wireless Service amongst similarly small lesses,

After mid session, however, the market began to take on a definite declining tendency although even then the losses were not substan Itial. The reaction at the Anal nsession was steady and succeeded

in reducing the net losses by trac tions ranging from 05 to 50, the latter figure being registered by Salt Revenue..

Telephone (new) $11%1⁄2 n. China Buses Sh. $41 n Singapore Tractions 6/- n. Singapore Preti,, $17/9' n.

Industrials Malabon Sugars, 18.70 n. Cald: Macg. (Ord.), Sh. $20 n. Cald: Macg. (Prof.) Sh819% Canton Ices $2.80/1. Cements $2 b., $2.05 B. H.K: Ropes £3.60

Stores, etc. Dairy Farms $24. Watsons $55. Lane, Crawfords 48.75 Mackintosha, 321 n. Sinceres $8

Wm, Powells, 70 eta, ni- Wing On (H.K.) $105 n.

Miscellaneous.

H.K. Amusements $1.85.n. Entertainments, $76 n. 8.C. Enterprises $1.85 0. Macao Greyhounds, $2 n... Constructions (old) $1.85 2. Constructions (now) 70 cts. s.

80.60

ovt. 5% 1925 G$Bds. 90%

LOCAL DOLLAR ADVANCES

Silver Prices Improve

The local dollar advanced 4, opening on demand this morning at| [1/9.

Spot and forward silver prices, also advanced 1/16 being quoted

LONDON SILVER

London, To-day, London Silverst Spot....

24 9/16 up 1/18 Forward...24 11/16 up 1/16 London Silver Comment:- India and China bought. culators sold. Business small.

Up And Revenue Down

Expenditu

London, To-day. past week show that during the The exchequer returns for the

current financial year, the total ordinary revenue, exclusive of self- balancing revenue, amounted, at January 12, to £459,076,406., which is £4,238,255 less than the amount collected at the corresponding date

last year.

The expenditure for the same period, exclusive of self-balancing Spe-items, was £558,158,191, which ex- ceeds the amount: axpended at the corresponding date last year by £7,129,177-British Wireless Ser-

vice.

It Insured? ? RAW RUBBER PRICES

Insurance All, Classes LOWEST RATES

American Asiatic Underwriters Fed. Ino, U.S.A General Agents

Head Offse

Tat 24 9/16 and 24,11/16, respec-17, The Band tively

The London on New York cross Shanghai, rate was quoted at US.$4.844 as compared with

US$4 89%-

The New York on London rate was quoted at U.S.$4.86%, as compared with —U.S.$4.88%..

FUKIEN BUDGET DEFICIT

$2,000,000 Needed To Balance

Foochow, January 10. Owing to the increase of ex- penses for pacification purposes and of the Party and Ad- ministrative expenses of the varl- ous distrlets recovered from the Communists"-in Western ‹ Fukien, the budget of the Fukien Pro vincial Government for the cur- rent fa

Latest Quotations From Singapore

Messrs. H, B. Joseph & Co. have received the following Strafts Cur- H.. Odite rency quotations (Buyers) from

Asia Life Singapore for Raw Rubber:

Building Spot 21 down 1/2

April-June 23 1/4 down 1/2 July-Sept. 24 1/2 down 1/2 Market:-Uncertain.

Tel. 80231

S. E. Levy & Co.

UNDERWRITERS AND DISTRIBUTORS

SECURITIES AND COMMODITIES? BOUGHT AND SOLD ON COMMISSION

DAILY NEW YORK STOCK "AND COMMODITY SERVICE

Mömbora!!

M

NEW YORK COTTON, EXCHANGE,

DITY EXCHANGE, INC.

BOARD OF TRADE

DITY EXCHANGE, INC.

DENTS FORS204

CON NEW YORK.

TRONG D

WHITE.

'CÂNĂ

by a

In ord the Provincial De

the def

18%% Loan prem.

Harpers 1

Tel. 30101 and 301

HK. Govt. 4% Loan, 8% prem.