1935-01-24 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION. L

thorized Capitat

Camwed and Fully Paldrup

Berry Pundai-

Barlog

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

20.000.000 Incorporated by Royal Charter, 1858.

$800,00

£6,500,000

$10,000,000

Hero Liability of Propristors $20,000,000

HEAD OFFICE: DONGKONG.

Bu Mr.JW.

BOARD OF DIRECTORU.

Hoo, Me, O. (5. 'E. Haskie

Chalyman,

8.1. Dodwell. Esq.

Deputy ChairLË, Stu

Compton, Zaq

W. J. Koswich, Eng.

B. C. Knight, Koç.

MOT

KANGKUR

BATAVIA BOMBAY JALCUTTA CANTON

CHEFCO

DOLDY BO

DAIBEN

POOCHOW MAIPIJONO SAMBURO BANKOW HARBIN BONUZEW

LLOILO

IPH

JOHUSE

IODE

IONLON

BEAD OFFICE: LONDON

Reserve Liability of Pro-

.£3,000,000

£3,000,000)

THE CHINA MAIL, THURSDAY, JANUARY 24, 1935

Commerce and Finance.

$2 STAR FERRY DIVIDEND

23,000,000 $3.50 Bonus Proposed

Rangoon Belgon Bemarang Berambag Khangbel Singapor

Paid-up Capital

Reserve Fund .

prietors

Agencies and Branches:

Alor Star

Пell4

karibuar

Ipok

Blangkok

Karachi

G. 3. Bag.

Klana

K..lorrio, Rog

Gotabay

Kobe

1. E. Praze, Eq.

Calestia

Burle

Canton

Lampar

Kuching

Satırabaya

Cabu

Madra

Talping

Colombe

Magila

Tientela

Delhi

Medan

Tongkah

Haiphona

New York

(Bhuker)

Priping

Tsingta

Pakking)

Yokohama

Terang

Zamboanga

7. M. Graybum, Mag.

Chief Manag

BRANCH GS (→

LUALUN

LYONK

MALACCA

MANILA

UAB (Johore}

MUKDEN

ץ

NEW YORK

PRIPING

PENAN

BANOOON

SAIGON

SAN FELKOISTO

KUALA LUMPUE

БИЛКИНА!

SINGAPORE

FOURABAYA

SUNGE PATANI

THENISIN

TOKIO

TRIBUTAO

YOKOHAMA

Current About opened in Local Duranny

sad Find Deposite rosired for one yea®__ DI skorter periode la La Conspicy and Sterling - which will be quand on applicatio Blue Keep. 17th April, 1224.

HONG KONG SAVINGS BANK.

• The Bustines of the above flank, la nonduct by the LONG KONG AND BILANULAI BANKING CORPORATION, Blon

tained on application.

ej br

FOR THE HUNG KONU AND HUANGBU! BANKING CORPORATION

V. M. CHAYBURN,

Chief Manager.

Boog Keap. Kik February, 1954.

+

THE BANK OF EAST ASIA, LTD.

Authorized Capital

$10.000.000.00 $5,198.02.19

bors and Undivided Prodie, 20.00

READ OFFICE:-RONG XONG

12, Des For Road Control,

BOARD OF DIRECTORA 1- Hir Sbou-sou Chow, Chairm

Low Chua, Zg P. K. Kwok, Eng. Wont In Tong, Erg Chan Ching thek, Esq. Li Lou Sang Keg.. Wong Chu Bon, Faq and Ban Ting

Kan Tong Pu, Esq., Chief Manager.

1 To Pune. Eng., Manager.

Palphong

DRANULES AND AORNUTES :---

Melbuurt

*

01

Beva

be

Nagbali

Bajouti

New York

Beto

Unaka

HANNOY

Peiping

Hom

Kabe

haugoon

Karina

Gendon

Franciao

жан

ملا لمسماة

Bemarang

Bhanghai Bingspare Lourabaya Bwatom

nidiny

Vaiku Tissuin Tokyo

cuts

Yokohama

Jamburg

| Hankom

Trable

Hear Ymar.

treated.

Biawan

Foreign Nathangs sad Desiral Decking to Current Amounts opened and Fixed Deposits mosited for one year or shorter parisda ni ratou #bich will is quoted on application.

A. BREARLEY.

Manager. Hong Kong, ist. January, 1936.

SAFETY FIRST! To-Safeguard Your Valuables and Jewelleries. Deposit them in a Vault

that is really FIRE - PROOF BURGLAR-PROOF DAMP-PROOF!

The "Star" Ferry Co., Ltd. report- that the balance at Profit and Loss Account for the year ended 31st December: 1934, is $414,436.26, which together with $38,537.64 brought forward from the previous a total of $162,973.90 year makes available for appropriation.

The Directors will, at the ap- proaching meeting of Shareholders, recommend the following distribu- ition:-

Pay & Dividend of $2

per share Pay à Bonus of $3.50.per

share Carry forward to next

account

$160,000.00

280,000.00

12,978.90

$452,973.90

HONG KONG AND KOWLOON WHARF AND GODOWN'S

·OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of

At the forthcoming meeting of Our New building is Specially Con- structed to provide all of these ImShareholders of the Hong Kong |portant Qualities:

and Kowloon Wharf & Godown

THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD.

You may obtain a Safe Deposit Co., Ltd. the Directors will propose Box in thli most up-to-date Vault for that the Authorised Capital of the your own nee at a very moderate Ben-Company be increased from 80,000 ital.

Shares of $50 each ($1,000,000.00) · Inspection. Gordially. Invited.

10 160,000 Shares of $50 each ($8,000,000.00), and that at present the paid up Capital be increased to $4,500,000.00 by the Issue of 10,000 Shares at a premium of $25, giving the present Shareholders to option THE BANK OF CANTON, LTD. of taking up One New Share for

Corner of Ice House Street and Des Voeux Rosd, 'Central

Eatablished 1912.

Head Office: Hong Kong,

Authorised Capital

Paid-up Capital

$11,000,000 8,655,000 82,170,492

otal Resources Branches: Canton, Tolshan, Shanghai, Hankow, Bangkok & San Francisco. London Bankers: Lloyds Bank, Ltd.,

Foreign Exchange and Basking business of every discription trans- actod

Eight Old Shares.

LOCAL DOLLAR ADVANCES

Silver Prices Steady

The local dollar has advanced %, or opening on demand this morning at

Current Accounts opened and Fixed Deposits received for one year shorter periods at rates which will be 1/94. quoted on application.

Spot and forward silver prices,

Safe Deposit Boxes (various sizes) however, were unchanged, being Eshafer hire

quoted at 24% and 24%. respec- tively.

Riary descaption of Banking and

Lomas granted an approved BOUZİLİB.

Current Accounts opeved to Lewal Curren

Pized Deposita esitad for hjstor shorter perioda in Loent and Forsiga Currencies

berta which will be gated on applicasion.

Bale Depot Dores To La.

!

KAN TONG TO,

Hong Kong, les March, 1951

Chief Maseg

THE BANK OF TAIWAN, LTD. Head Office: Taiheka, Formin Incorporated in Japan by Special Imperial Charter, 1899.

Central Bank of Formoen, Notes

issued Average amount Y.45,000.000 Branches and Ageneles. Japan:-Kobe, Osaka, Tokyo, Yoko- hama. Keelung, Makong, Nanto, Shoka, Shinchiku, Taichu, Tainan, Taito, Takao, Tamsul, Teen, Karenko Kagi, Heito, Giran.

China: Amoy, Canton, Foochow, Han-

kow, Shanghai, --Swatow.

1

LOOK MOONG SHAN, A Chief Mag.

THE

The London on New York cross- rate was quoted at -U.S.$4.89, as compared with £-U.S.4.88%.

AMERICAN EXPRESS COMPANY, The New York on London rate

• INC.

Head Office:-45, Broadway, New York

Capital Surplus Reserven

.U.S.$6,000,000.00,

2,087,112.69 1,995,528.31

BRANCHES:--

Palermo

Amateria Antwurs Athena

Genca Glangan

NIT

1:

Au

Hraine

Berlin

Berbay

Funn

Havana Hamburg Havre Heidelbert Interlaken

Flee Naples Pirmaga Paris

Peipin;

Braphy

Intterdam Fema

Caire

New York, Singapore,

Others: Bombay, Hong Kong, London.

Teusta

Гипо

por

Batayia

Samarang, Seerabaya, Dairen.

Colombe Copenha Publia Falebar

Mantata Tartuma Vienne

Monte Carle

Genera

Manila Muala Montr

Yokohama Zorich

On and after April 20th, 1984, the rate of Interest on Special Curren! Please Deposit will be at 1%. p., on dally balance and the rate for balance over $10,000 will be quoted on application (Maximum rats 1%).

Y. OHNO.

Manager.

Hong Kong Branch

3. Des Voeux Road, Centra

Jarszałem

Londoo Tarerpool Luosina Lugano Luxor

Rostbapica

was quoted at IT.S.$4.89, compared with £-U.S.$4.88%.

#F

The dollar, which was quoted at 1/9% yesterday for the first time since October 9, 1929, was at 1/93%. on October 8 of that year, since when it has steadily fallen, re- covering only this year.

LONDON SILVER

London, To-day. Spot 24% Unchanged. Forward 24% Unchanged Sliver Comment, Bought, small.

India

Sold.

Speculators Business

Branches of American Express Com- THE CHINA & SOUTH SEA BANK, pany in Principal cities of United States of América and Canada.

All classes of · Commercial Banking Tansactions undertaken.

Personal

THE YOKOHAMA SPECIE BANK handled.

LIMITED.

Established 1880

Capital (fully paid-up) Yen. 100,000.00

Yen.124,250,000 Reserve Fund

Head Office: YOKOHAMA

Branches and Agencies atr Alexandria

Batavia

Berlin

Bombay

Calcutta

Cantos

Dairen (Dalny)

Nagasaki Nagoy New York Quaka

Paria Peiping

Rangoon Fengtien (Makden) Rio de Janeiro Hamburg

Hankow

Harbin

Hong Lour Honolulu

24 Hrinking. PAKárach!

Kobe London

Lon Anreis

San Francisco Seattle Semarang Shanghai

Singapore Доставау Sydney Tientala Tokyo Tringtau

investment accounte

LIMITED

www.

(Incorporated in Chins) Head Office.Shanghai... Capital ,$7,500,000,00 $1,590,000.00 Branches.,,.,.All Important Cities

Reserve

in China Foreign Exchange and General The Company offers to intending Travellers the use of the Travel Banking Business transacted

Current and Saving Accomts opened. Cheques" and Letters of Credit and.

addition, the world-wide services and Fixed Deposits received for one its thoroughly equipped Travel De year or shorter periods at rates which

will be quoted on application.

partment.

E, W. DUGGAN,

Manager,

THE WING ON BANK, LTD. HONG KONG

Authorised Capital $10,000,000

Foreign Exchange and Banking Business of every description transact- ed.

Current Accounts opened, Special| Deposits received at special rates, and Fixed Deposits received for and your fer. ehorter period at rates which will fbe quoted on application path in

Safe Deposit Boxes (various

for hire

PHILIP GOOKCHIN GAS Chief- Manager

GOCKOHIN MANAG #Assistant.Münnger kopsant

LLI, SHU TONG

BOU Z. CHANG,

Maunger. HONG KONG BRANCH::] 24.. Des Vox Road, Central, Manager's Omes Tel. 88365 Foreign Exchange Dept. 88565 General Office" vinde 38587--- Cashier's Office.

Y: 83569

THE SHANGHAI: COMMERCIAL & SAVINGS BANK LIMITED P(Incorporated in China

Capital' paid up Baserves Capital Savings De

Head

A Bank hav Indurtzial

and the

cial relations

Hong Keur

LOCAL SHARES.

TO-DAY'S 'QUOTATIONS.

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

Banks.

H. Bank $1545 n.^ H.K. Bank (London) 2140 n. Chartered Bank $160.

STEADY TREND ON RAW RUBBER PRICES WORK OF NATIONAL

WALL STREET

Automobile Industry

Improvement

LIFELESS COTTON MARKET

Wall Street is expected to be steady but interest in individual; items is engendered by the trade repart. There should be little change in Rubber, but January

Latest Quotations From

Singapore

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

rency quotations(Buyers) from Singapore for Raw Rubber: *

Spot 20 7/8 down 3/8 April-June 23 down 8/8 July-Sept. 24' 1/8 down-1/2 Market: Slightly easier.

automobile registration in Ameri- COMMODITY PRICES ca was 95 per cent, over that of

The following quotations have last year.

Wheat will probably be steady been received by Messrs. S. E. Le Mercantile Bank, A. & B. 682 n. Weather in the North West is it and Co., and the A.O.F.C. Mercantile Bank C. £181⁄2 'n. Bank of East Asia 890 b Am: 0. Finance Corp., Sh.$20 n. China O. Fin. Ord., Sh. $1.80 n. China O. Fin, Pref Sh. $41⁄2 n.

Insurances.

Canton Ina. $275 n. Union Ins. $490 n.

China Underwriters $1.20 b. China Fire Ins. $490 n. H.K. Fire Ins. $228 International Assce. Sh. $5 ¤.

Shipping.

Douglases, $40 n. H.K. Steamboats, $71⁄4% ¤. Indo-Chinas (Pref.), 880 n. Indo-Chinas (DeL), $89 n. Shells (Bearer) 54/4% ́n. -Union Waterboats 18% n.'

Mining.

Antomoks 872 8. 87% 8.

div.

ter, while elsewhere it is becom- ing colder.

Jan. 22. Jan. 23. Closing Closing

战

Cotton is expected to be unchang-

ed and lifeless though technically New York Cotton:~~

Frigidity is continuing in January ........ sound.

12.40 12.45

the Cotton Belt which is antipathe March

12.46

12.49

tie to the weevil pest. Cables from May

12.53

12.55

Liverpool report hedging of East July

12.53

12.55.

ern and Indian Cotton.-S. E. Levy October (1985).. and Company. . *

12.44

12.48

Décember

12.50

12.55

8. E. Levy And Company's Report Spot

12.65

12.65

In their market report, Messrs. New York Rubber:-

S. E. Levy and Company, correa- January pondents for Mesara, White, Wold March ......... 13.07 and Company, New York, state: May

12.90

12.81

12.05

"Stock:-Though there may be July .....

13.35

13.20 13.10 13.24

a certain restriction of activity September

19.55

13.41

until the Gold Clause decision is October announced, favourable news from Chicago Wheat;-

19.63

18.50

the steel and motor industries May

97%

97

cum. will probably sustain the market. July

88%

8B%

Balatoca $41. Baguio, Gold 41 sa. Benguet Consolidated $14 Benguet Exploration 18 ets. Benguet Goldfield 10 cts. n. Big Wedge, 10 cts. n.

Business done:-620,000 shares, September

"Commodities:-Stagnant condi- Chicago Corn: tlons in the actual markets

B6%

87

were May...

86%

841⁄2

n.

having an effect on futures.

Ap-July

812

80%

I.

prehension over subsidies, which September

7736

77

are rumoured

and if created, Winnipeg Wheat:---

would enable exports of Canadian May wheat and American cotton, is de-July

821⁄4

821

laying replenishment, and deplet-New York Sugar:- ing European stocks, especially in March cotton.

B114

8134

1.87.

1.90/92

1.92

1.95/96

1.96

2.00

1.42

1,41%

· 1.41 -1.41

1.422

1.41

Montreal Silver:-

.54.70

54.60

55.50 55.30

56.00 55.90

Gold Creek 381⁄2 cta. n. Gold Rivers $281⁄2 n. Ipo Mining $1 n. Itegana 42 cts. n. Salacota 16 cts. n. Kailan 19/3 a.

Langkats (Single) Sh. #15 n. S'hai Exploration Sh. $5 n. S'hal Loans, Sh. $6 n. Raubs $9.10 n.

1

Venz; Goldfield $5 n.

Docks, etc.

May "Rubber:As noted in our com- July ment yesterday, manufacturers are September

Total New York Silk:- operating at full force. sales:-241 lots.

March

The following telegrams were May received by Messrs S. E. Levy and July Co. from Reuter:-

Wall Street was quiet and March

H.K. Wharves $115 b. $116 88. steady, with movements very rar-May H.K. Docks $11% n..

Providents (old) $1.40 s. Providents (new). 30 cta, n. Hongkews, Sh. 3809 n.

New Engineerings, Sh. $5% n. S'hal Docks, Sb. $120 n.

Cotton Mills,

Ewo Cottons.Sh. $8.90 n. S'hai Cotton (old) $74 n. S'hal Cottons (new) $44% n. Zoong Sings, Sh. $9,40 n. Wing On Textiles, Sh. 356. n.

Lands, Hotels, etc.

H.K. and S., Hotels $4.95 b. H.K. Lands $50 b., $50%

$50% 8.

sa

H.K. Land, 4%. Debentures 101%

b.

Shanghai Lands Sh. $241⁄2 n. Metropolitan Lands Sh. $12.20 Humphreys $91⁄2, mi H.K. Realties: 85:10 n.

Asia Resitics "A", Sh. $100 m. Aufs Realties “B” Sh.#20 ́¤. Chinese Estates $88 ... China Realties. Sh. $121⁄44 m. China Debentures 9h.$128 m

Public Utililles H.K. Tramways $20.30 b. Peek Trams (old) $9 n. Peak Trams (new), $7 n. Star Ferries $98 n.- Yaumati Ferries $22 n. C. Light 89.90 a. H.K. Electrics $70 b. Macao Electrics, $25 i. Sandakan Lights $8 n.

-

row. In view of prevailing uncer-July

tainties, traders were not diapos-September

ed to take decided positions either

1.99/00 2.06/05

56.80. 56.60

way and continued indecisive LUXURY CRUISER'S

movements seem Indicated.

Steel operations at Chicago were at 59 per cent. of capacity.

Average daily petroleum pro-

COMMISSARIAT

100,000 lbs. Of Turkey & 156,800 lbs. Of Potatoes

Many tons of food will be eaten

ECONOMIC COUNCIL

Limited Funds Only Allotted For 1935

MOST URGENT PROBLEMS TO

BE TACKLED FIRST

The work of the National Eco- nomic Council for the year 1934 has been mainly directed toward meeting the most pressing need of China to-day. This need is the amelloration of the living condi- tions of the people through the development of transportation and communication facilities, rural re- habilitation, and improvement of productive industries. These three important phases of economic de [velopment constitute the nucleus or the Councils endeavour, says Mr. Chin Fen, Secretary of the Council

But in view of the limited funds placed at the disposal of the Council, some guilding principles {had to be laid down in the forma- tion of a programme for the pre- sent year. These principles were: (1) concentration of the funds on Ja few important and urgent activi- tes only; (2) selection of certain regain which were in the most urgent need of reconstruction; and (3) activities which may be im- |portant but one beyond the finan- cial resources of the Council should not be taken up for the time being. In the light of these principles and on the basis of $15,000,000 appro- priation by the National Govern- ment for 1934, the Council's pro- gramme of reconstruction was drawn up and subsequently re- ceived the approval of the Govern- ment.

duction, was 2,531,000 barrels.

Weekly electricity production in the United States totalled 1,778,- 000,000 kw. hours, an increase of 9.4 per cent. over the correspond-by passengers on the liner Em

press of Britain which has now ling week of last year.

left England on a round-the-

due in Hong Kong on March 23.

The stores include: : 100,000 lbs. of Turkey. 156,800 lbs. of Potatoes. 100,000 lbs. of: Flour.

The publication "Iron Age" world luxury cruise, and which is timates steel production at 51.5 per cent, of capacity, and further gains are apparently assured. Al-¡ though a setback in scrap prices r. introduced a note of caution, it is believed too early for scrap prices to portend an off-levelling of steel production and certainly there aro no evidences of any relaxation in the demand from the automobile indystry.

Liggett and Myers has declared a regular quarterly dividend of $1 together with the usual extra $1 jon common shares and common

"B."

52,000 lbs. of Meat and Bacon, 112,000 Eggs. 100,000 Oranges.

20,000 Grapefruit.

The voyage will take 614 months.

Pennsylvania Railroad has de S. It Insured ? ?!

(clared a dividend of 50 cats, thei Bame as the two previous declara- {tiona.

Phillips Petroleum has declared Its regular quarterly dividend of

Telephone (old) $24.90 b., 25/80/25 cts.

25 8a.

Telephone (new) $11 8. China Buses Sh. $12.40 n. Singapore, Tractions 6/- n. Singapore Pref. $17/9 n.

Industrials

Malabon Sugar.. $8%1⁄2 n. Cald: Macg (Ord.), Sh. $20 Cald: Macg: (Pref.) 8h$193⁄41⁄2 Canton Ices $2.85 ..

Cements $1.97% n H.K. Ropes 65.80 8.

Stores, etc.

Dairy Farms $241⁄4 1. Watsons 84% n.. Lane, Crawfords $3.75 Mackintoshs, $21 n. Sinceres $8

Wm. Powells, 70 cta. n. Wing On (H.K.). $105. Julia Miscellaneous.

HK. Amusements $1.85 0. Entertainments, 779 0. *S.C. Enterprises: $1.85 n.°

Macao “Greyhounds" $2 n. Constructions (old) $185 n Constructions (new) 51 cts. n. Vibro Piling 51⁄2 *

E

Ch Govt. 6% 1925 G$B-90%

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

[HK. Govt. 38 % Loan

Wallace Harperať 17% **

E.. A. Pierce Co's Report

Insurance All. Classes LOWEST RATES American Asiatic Underwriters

Fed. In USA. General Agents...

Head Office

In their market report, the American Oriental Finance Cor-17, The Bund poration, correspondenta for Messrs.

E. A. Pierce and Company of New: Shanghai York state:

larly in regard to the steel trade, "Stocks: Industrial news, particu-

(electric output and fertilizer pros

pects was constructive, but the mar- ket was dull and apparently stil! | under influence, pending develop; ments in Washington.**.*

“Grains: The market was “firm during much of the session, in- fluenced by strength in Liverpool and the severe cold wive which was predicted Prices declined late in the day's trading due to sympathy with weakness in corn, which had a heavy tone and was meeting with pressure on little rallies and poor buying power. There was also sell- ing by houses having Eastern con- nections. The cash basis was firm. Receipts from the country were [small and shipping sales the best for several days owing, probably, to tired holders.

PS\Continued on Page 7).

Stock

H.K.

Life

Tel 30234-

In brief, the work of the Council may be divided into six sections; highway. construction, hydraulic work, rural rehabilitation, control of cotton industry, improvement of sericulture, and public health.- Cheklai Agency."-

XXXXXXX

Everything

gone.. BUT YOUR

SAVINGS

RENT

FOOD

CLOTHING

HEAT

TAXES

WATER

CHITS

SAVINGS

SAVE SOMETHING

START NOW UNDERWRITERS

SAVINGS BANK

FOR THE FAR EAST,

INC.

Asia Life Building Hong Kong. Tel. 30284

S. E. Levy & Co.

7, ICE HOUSE STAKET

VESTMENT BANKERS & BROBERS

NEW YORK COTTON, EXCHAN

COMMODITY EXCHANGE, INC, N.Y.

CHICAGO BOARD OF TRADE

CANADIAN COMMODITY: EXCHANGE,

ESPONDENTS POR