1935-02-27 — Page 6

-BANKS

HONG KONG AND SHANGHAI.

BANKING CORPORATION:

Authorised Capital..... Issued and I'ully Paid-up

Reserve Furuls

Sterling..... £ 0,500,000 Silver

$10,000,000,

Reserve Liability of Pro-

prietors

BEAD OFFICE, NONOKONG.

20,000,000 Reserve Liability of Pro-

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. $50,000,000)

20,000,000 incorporated by Royal Charter,"1863.

BEAD OFFICE: LONDON

*

Paid-up Capital

Reserve Fund

$8,000,000 £5,000,000

priators

£8,000,000

Agenclea and Branches:

lvil Ipol

Sangoon

Helgun

Jazgkok

Karnaki

Fansarang

Bataria

Kiong

Retamban

Bossber

Kobe

Bhansal

Kunia."

6/spute

Canto

Isumpur

Cawnpore

Kurblog

Houtbeys

Caba

Hadras

.Talaban

Colorabe..

Manila

Thasida

Dalai

Kadam

Tenghah

Haiphong

New York

Bhulene)

Hamburg

Palping

Telgian

Tekraina

Zamboangs

BOARD OF DIRECTORA.

8. 41. Dulwell, Esq.

Chalemen,

O. 1, Khlulit Bug.

Deputy Chairman.

W. H. Bell, Esq. K. S. Morrison Esq,

A. 11. Compton Esq.,

Hon. Mr. J. J. Paterson,

Hun. Mr. C. G. S. Mackie,

G. Miskin Esq., T. E. Pearce Esq.,

AKOY

DANGEUR

BATAVIA

BOMBAY TALOUTTA

BANTON engroo COLOMBO DAIREN TOOGLOW

HAIPHUNG

HAMBURG

NAHKUW

HARDIN

NUKEW

Ba

JUGBE

KOBE

LOWLOON

Y...Grabera, Bag.

Chlef Manager..

BRANCHES

KUALA LUMPUR LONDUN

LYONE

MALACCA

MANILA

MUAH (hora)

NUXDEN

NEW YORK

PEPINO

PENANG

BANGOLIN

NAJGON

SILANUBAL

SINGAPORE

YAN FRANCISCO

LOUBABATA·

SUNUMI PATANI

TIENTSIN

TOKYO

TRINGTAO

TOKOHAMA

l'ensal Accouble opened in Tocal Outrany Lad Nized Doppelle racired for our year o tarter perioda le Lost Company and Berling He terms which will be ugled na appilation, Hong Kong, 26th February, 1935.

HONG KONG SAVINGS BANK.

Hunkow Ilarbin loor Loa

Tenang

THE CHINA MAIL WEDNESDAY, FEBRUARY

ommerce and Finance

TREASURY RETURNS

In Expenditure': Rise

Revenue Falling

INCOME TAX COLLECTIONS IMPROVE

as

London, To-day. The latest Treasury returns show, that ordinary revenue for the cur rent financial year up to Fébruary 23 amounted to. £620,169,263, compared with £631,766,084 for the Zops Derbange, and Drsal Banking business the Corresponding period of last tracokelat.

Durrant Accounts opened and Fixed Deposlis, receless for one Jar of aborter periods of year. Including self-balancing which will be posted on application.

revenue the figures are £698,409,- 263 and $708,590,084, respectively.

Income tax collected last week amounted to £12,821,000, bringing the total to date to £188,490,000.

A. BREARLEY. ·

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

THE BANK OF CANTON, LTD. as against £186,673,000 at the cor-

Established 1912

Head Office-Hong Kong

Authorised Capital

Paid-up Capital

1935

NEW YORK STOCK

MARKET____

Continued Weakness

Noticeable

REDUCED RUBBER QUOTA CAUSES LIQUIDATION

SHANGHAI STOCK

MARKET

General Trend Still

Very Weak

A.O.F.C. COMMENT

$11,710 Is

Finance

Supplementary

amounting to $11,710 will be sub

Transactions on the Shanghai mitted to the Finance Committee

LOCAL SHARES.

TO-DAY'S QUOTATIONS →

The following the list of local share quotations "found to day.

Banke HK,Bank $1380 b;, $1395 BA. H.K. Bank (London) £181 n. Chartered Bank $151⁄44Chip Co Mercantile Bank A. & 1814duced on rallies from these levels: sesalon 800 Caldbeck Macgregor, 8 grant of $1,500 is anticipated for Mercantile Bank C. 818% n.”

Business done-950,000 shares. per cent. Preferred were sold. De the Hong Kong Naval Volunteer Bank of East Asia $90 m.

Grains: Offerings are increasing bentures continued to be easy led Force; Am: O Finance Corp, Sh.820 n. China Q. Fin, Ord, Sh. $1.60 m. China 0. Fin: Prof Sh. 141⁄2 B.

In their market report. Mesara. Stock Exchange continued to be of

E. Levy and Co 'pany, corres a very limited character last Tues- following the Legislative Council pondents for Messrs. White Weld day. Union Insurance and Ewos meeting, to-morrow afternoon. and Company, New York atate:- among the common stocks, Shang The largest item is $7,940 for

Stocks We-continue to bellove hai Water Works 65 per cent.

nga Insurances,

Canton Inc. $260 n, Union Ins. $440 sq. China Underwritera $1.40 b. China Fire Ins. $480 m...

Fire Ins. $2273% n. International Assce. Sh. $5 n. Shipping

responding period of last year....

The total ordinary expenditure up to last Saturday was £632,663, $11,000,000 933, as compared with £619,562,255 8,855.000 at February 24, 1984. With self- 12.170.492 Branches: Canton, Teishan, Shanghai,bulancing expenditure, the total for the current year is £719,500,601, aa Hankow, Bangkok & San Francisco.

£705,215.800. British London Bankers: Lloyds Bank Ltd., against

Foreign Exchange and Banking Wireless Service. basiness of every discription trans-

Total Resou7CES

...acted.

The Buds of the above Bath is conduc

the HUNG KONG AND BHANOHAS LING CORPORATION, Hulen Gay be stled on application

MR THE HONG KONG AND BHANGHAI MAVEING CORPORATION

Y.. GRAYBURN,

Chiel Manner.

Hong Kong, 25th February, 1935.

THE BANK OF EAST ASIA, LTD.

Authorised Capad

Walking Capitai

Rovers and Usdiculed Proda muno

$10,000,000,00

-83,464,900.00

HEAD. OFFICE-BONO XOXO

12. De Vass toad Casira

ARE OF DIRECTORS

El bou-on Chow, Chairma

1 X Cha Zaq. P. K. Kwok, Ing. Woox The Tong, Eng.. Than Ching Bbet, Zay, I lan B. Reg., Wong Chu Bon, Eng, and "Kan Ying

Xan Tong Po Paq.. Chief Masagie,

Li The Fons. mj, Manager,

BRANCHES AND AGENCIES1-

4

ปน

Kok!

Semarang. Bhuba

Aleutia

New York

Singapore

Cavit

Bulghong

Faria

Sourabaya Braidw

Hakow Isolala

Paiping

tyrdatz

Fanani

Talboku

Bangoon

Nerlain

Kewloon

Baigon

Tokre

Eso Pranolaou

TECOST

Erary description bestauched.

Darmas

-Tokokans

'st, Banking and Exchange Loans granted en mpground

Arcouste speed la

Loval Corrent Plaad, Deposit receive Loe on your

Verter periode to Lost and Foreign Currencie

Current Accounts opened and Fixed Deposita recet red for

ODE YDAY

or

phorter periods at rates which will be quoted an application.

Safe Deposit Boxes (various mixes) fer hire.

LOOK POONG SHAN,

Chief Managor

SAFETY FIRST !

To Safeguard Your Valuable and Jewelleries. Deposit them in a Vault that fe really: FIRE-PROOF BURGLAR PROOF DAMP PROOF 1

EXPORT TRADE IN- CHINA TEA

Increased Shipments In 1934

Nanking.

The total exports of tea for the past year amounted to 428,667 piculs, value at $31,842,082, which shows an increase of 18 per cent in volume and 8 per cent in value as compared with 1983, according to Jan official of the Ministry of Indus- try, who was interviewed by the Chekiai Agency's representative.

Of this increase, red tea ae- counted for a considerable part:| You may obtain » Bake Deposit Green tea, however, suffered from Box in the most up-to-date Vanit for a slight drop laat year as compared your own use at a very moderate Ren-with the previous years.

OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of Our New bailding is Spacially: Con- structed to provide all of these 1m. partant Qualitie

Inspection Cordially Invited. THE NATIONAL COMMERCIAL

& SAVINGS BANK, LTD; Corner of Tea House Street and Des Voeux Road, Central

THE

Larm which will be quoted on applices. AMERICAN EXPRESS COMPANY,

Bats

poll Doses a Lat,

EAN TONO ro,

Chief Hasager,

THE BANK OF TAIWAN, LTD.

Dead Office: Talhoku, 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, Yoks

Keelung, Makong, Nanto, Shinchiku, Talchu, Tainan, Taito, Takao, Tamaul, Toen, Karenko, Kagi, Helto, Giran.

China:--Amoy, Canton,

Foochow, Han-

kow, Shanghai, Bwatow.

Others: Bombay, Hong Kong, London,

York Bingapore, avis Socrabaya, Datron.

New Samarang,

and after April 20th, 1984, the on Special Current fate of Interest Deposit will be at 14% p.a, on daily balance and the rate for balance over $10.000, will be quoted on application (Maximum rate—1%).

Y. OHNO,

Hong Kong Branch

Manager.

8. Des Voeux Road, Central,

INC.

Head Oßce:-65, Broadway,

Capital

Surplus

Reserves

New York

.U.S.$8,000,000.00 2,087,112,69 ****** 1,995,528.31

The Ministry of Industry is now making energetic efforts to improve the tea production of, the country, with a view to providing high quality tea for competition in the International market. (Chakia! Agency).

THE MERCANTILE BANK OF INDIA, LTD.

URAD'OFFICE:

Grahurch Sleet, London, 1.03. Authorised Capital 172.£8,000,000. Subscribed Capital

1,800,000 Paid-up Capital ....1,080.000" Reserve Fund & Rest. 1,247,482 BANKERS

The Bank of England & Kidland Bank, ¿Ltd.,

BRANCHLICH

New York

Ipoh.

BRANCHES:

Arandum Apiwory

-ÁSKORA Hein Berlin Baby Branis

Gatos

Glasgow

Melum Nice

The lingue

Karada

Neplas Pirmda

Bangkok

Bombay

Kandy

Parle

Cales

Usinaika Conser

Haldilberg Interlaken Jornalama London Liverpool

Pelpin PALM Rotterda Boro

Dell

- Kuala Tipl

Galle

Hong Your

Bangal Fotba

Howra

Colomb

Iuciest Lagen

Rispar

Tianlata

Cop

Tormise

Pabila:

Edinburgh Floo Genera

Marseilles A

Moris Earle

Manila

Maniok

Montreux

Viaza Venice Yokohama Karlsk

Branches of American Express Com. DADY in Principal cities of United States of America and Canada.

(MATION). Hogoon Shanghai Rupar Kusalan (Fabang) Umh

Singapore

4

ISO LONG BRANÇIL Brey description of Banking and Elokanga, bail- A transacted.

Travellers Cheques Lanzad,

Trustee And Executorships under- taken.

INTERENT" allowed on Current Accounts and Pland Deposite at Haton "kat may' ha sacarlaland sa application.

2. B. BORG,

Manage Quinn's Bood Ontial, Hong Kong. 12th June, 1984. :

All classes of Commercial Banking THE CHINA & SOUTH SEA BANK, Transactions undertaken.

Personal investment accounts

THE YOKOHAMA SPECIE BANK handled.

·LIMITED.

Established 1880

The Company offers to intending Travellers the use of His "Travalars:

Cheques and Letters of Credit and

· Capital (fully paid-up) Yen.100,000,000 in addition, the world-wide servicos Eurve Fund

Yen.124,250,000 of its thoroughly equipped Travel De

partment,

Head Office: YOKOHAMA

Branches and Agencies at:

Alexandria

Batavin

Barlin

Bombay

Calcutta

Nagamki

Nazoya New York Osaka mis

Rangoon

Dairens (Dalny) Fengtien (Marian) Rio de Janeiro

San Francisco

London

Los Angeles

Semarang Bingapore Boerabaya

Shanghai

Tokyo

Tsingtan Yingkow Interest allevel on Onrent

Deposits rootrod for

at mache to be obtained on applicati

E. W. DUGGAN,

THE WING ON BANK, LTD.

TONG CONG

Authorised Capital $10,000,000

Foreign Exchange, and Banking Business of every description transact-

Current Accounts opened Epsetál

LIMITED

(Incorporated in China). Head Office...Shanghai Capital Reserve Branches

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

All Important Cities Foreign Exchange and General

in China

Banking Business transacted.

ONG

Current and Baving Accounts opened and Fixed Deposita received for year or shorter periods at rates which will be quoted on application, and

800 Z. CHANG,”

HONG KONG. BRANCHE 24, Des Voeux Road, Central Manager's Office Tel: 88565 Foreign Exchange Dept. 88568 General Office Cashier's Office

THE SHANGHAI:

· & SAVINGS BA

Deposits received at special rates, and Fixed Deposits received for one year or shorter period-at-ratas, which will : „Cap be quoted on application

Safe Deposit Boxes (various/nises)

for hire

PHILIP GO

Chief

L GOOKCHIN

Assistant Ma

Douglases $891⁄2 n. H.K. Steamboats,.87% n. Indo-Chinas (Prof.), $80 n. Indo-Chinas (Def.). $88 n. Shells (Bearer). $50/- në Union Waterbosts $12 n..

Mining,

Antamolis 88 cts. n. Balatoes $43 n.. Baguio Gold 89 cts. n. Benguet Consolidated $14 sa. Benguet Exploration 15 cts. n. Benguet Goldfield 10 eta. n. Big Wedge, 10 cts, a. Gold Creek 381⁄2 cts. n.

Gold, Rivers: 22. cts. n.

Ipo Mining 311⁄4 n. Itogany. 42-ets. n. Salacots 16 cta. 11. Källan 17/-n.

Langkats (Single) Sh. $15 n. S'hai. Exploration Sh. $5 n. S'hal Loans, Sh. $0 n...... Raubs $7.90 n. 2- Venz; Goldfeld $5 n.

Docks, etc. H.K. Wharves $108 b., $110 8. H.K. Docks $111⁄2 m Providents (ald) $14 n.. Providents, (new) 15 cts. n,. Hongkowa, Bh. $309. n. New Eriginoerings Sh. 85.80 m. S'hat Docks, Sh. $120 ́n.

- Cotton Mills. Ewo Cottons. Sh.. #9.221⁄2 n. S'hai Cotton (old) $74-n. ...** S'hai Cottons (new) $45 D. Zoong Sings. Sh. $9.30 .- Wing On Textiles, Sh. 855 n.

that the continued weakness of the Preferred and Shanghai Power the Harbour Department and Air market calls for a reappraisal of the Company 6% per cent. debentures Services a fire engine for the Kai Spring outlook. We feel that com were the only issues in which busi Tak serodrome ($7,482.36), while a mitments, generally, should be re-ness was done. During Wednesday's

on advances. Wheat: Total sales: by Shanghai Telephone 6 per cent. 10,910,000 bushels, Corn: Total which closed at 98.50 while Shang- sales-5,612,000 bushels hai Power 5% dropped to 20., In

"Cotton March liquidation is the rubber section quotations were S. AFRICAN BUDGET practically completed. Uncertainties, normal on Thursday with the excep

FOR 1934 due to the Government's loan policy, tion of 500 Ayer Kawah which |changed hands at 2.70. There was are being keenly felt. A

Capetown, Feb. 20. A surplus of £2,250,000 was ap→

"Rubber: Speculators expected a some Improvement noticeable on $2,250,000 Surplus Shown sharper quota and are liquidating. Friday as far as rubber shares were Gold Mine Profits Fall The Trade were the principal concerned. buyers Declining stocks should

General Market Dull gradually attract Increased specula-

The xeneral market. however, reži tive participation. Total salesmained very dull with 1,000 Shang-nounced in the House of Assembly 971 lotar AREA

hai Water Works Fittings placed at to-day by the Minister of Finance, "General The Commodity mars.60, Shanghai Water Works "C" at Mr. N. C. Havenga, in a statement kets, generally are thin, "but al20.75 and Kelly & Walsh at 22. The on the 1934 budget of the Union of though speculative holdings are the only transaction, recorded on Satur-South Africa. lowest for some time, we feel that day was 500 Intiscos. 4.60 for cash, better rebuying at these levels is No business was reported in the Revenue, he declared, had ex- jceeded the original estimate by

likely."Reuter..

E. A. Pierce And Co.'s Report

rubber section. Debentures were quiet, $46,000. Shanghai Race Club nearly £3,250,000. In their market report, the debentures were done at $100, re- The largest contribution to tho American Oriental Finance Cor presenting a decline of 1 point from surplus was from income tax, this poration, correspondants. for the last transaction. In view of despite the remissions made last

[year. Messrs. E. A Pierce and Company the fact that no change has been of New York state-

Other contributions were derived taking place "in the monetary, situa lon, business done did not show any from the" super tax and the yield appreciable expanion.. Transactions from share-brokers profits and were few on both the general and the Customs.

(Continued on Page 7)

COMMODITY PRICES

rubber markets. Chinese Engineer. It was estimated, however, that ing & Mining was done at 11.76 a the excess profits of gold mines drop of 25 centa. Prices on the de- fell short by £1,000,000, this being The following quotations have bepture market showed only a due to various causes. connected been received by Reuter.

with mining operations.

May...

Feb. 25. Feb, 20.. Closing Closing, New York Cotton:—byt March

12.29 12.27 12.42 12.42 12.50 12.49

July

May

July

September

12.444 12.41

12.49 12.49 12.49. 12.49

October...

December

January (1936).. Spot

12.66

12.50

New York Rubber

March

12.96: 18.10

12.55 12.68

October

December

| Chicago Wheati–

May

97%

18.26 12.84 13.42 18.02 13.50 13.08 13.68

13.23

97%

July

.01%

Debentures

80% September 761⁄2- . Winnipeg Wheat:-~

September ... Chiengo Corn: May 8414 July.....

90%

92% 91

847/4

May

'83

884

July 2

6244

6284

New York Sugar:

March

·1.99

2.00/02

May

2.05

2.07/07

July

2.10

2.13/14

September

2.15

December..

2.22

2.24/26

New York. Silk:

March

134

May July

1.36

1.85

1.85

1.85

Montreal Silver:-

March

55.45 65.80

May

66,15

July

56.65

5695

September

57.25

57.25

Lands, Hotels, etc... H.K. and S. Hotels $4.95 b H.K. Land 450 n. H.K. Land 4%

-101 n. Shanghai Lands Sh. $22'n. Metropolitan Lands Sh. $12.20 Humphreys $9.20 Ex ̈ div..n. H.K. Realties $5.10 n. -' Asia Realties "A", Sh."'$100 n": Asia Renities “B” Sh.$17 n., Chinese Estates 898 n China Realties Sh." $9.00 n. China Debentures: Sh.$128 n.

Public Utilities

H.K. Tramways "819.80_ss. Peak Trams Gold) 884 n. Peak Trama (new), $6 n. Star Ferries $22, n. 12 Yaumati Ferries $22 n. C. Lights $10 b., $10.05 sa. H.K, Electrica 871(n, Macao Electrica $25 n. Sandakan-Light 38 n. Telephone (old): $2534 1 Telephone (new) $10.10 b, China Buses Sh. $12.40 n. Singapore Traction; 8/ b. Singapore Pref. 207- b.

..Industrials Malabon Buger: 381⁄2 n..

Cald: Maeg. (Pref.) Sh.16 n, Cald: Macg, (Ord.), 8h, $21 n.

Canton Tees $234 b. Cements $2.05 ... H.K. Ropes $8.80 n.

Stores, etc. Dairy Farms: $283⁄41⁄2 5. Watsons $41. Lane, Crawforda 33.75 n. Mackintosh $21 m? Sinceres $8 mi Wm, Powella, 70 ctn, ni Wing On (H.K.) #105 ́n.

Miscellaneous

H.K. "Amusements $1.85 m. Entertainments,‹ $71⁄2 - n.^^ H.C. Enterprises. $1.85 x. Macao: "Greyhounds,... $2 n. {Constructions" (old); $1.70

Construction (new) 50 Vibro Piling $53⁄41⁄4n.^

Ch. Govt 5% 1928 GBBds

98%*

slight change downward.

A Chinese 'Govt. Bonds

Exporta from the Union In-

com-

The outstanding feature of the creased by only £3,000 as Chinese Government Bond Market pared with the figure for 1989, but during the nine days trading ended imports showed a rise of $17,000, the 16th was the wide fluctuation 900.

of 23rd Year Customs ́ ́ between"}

whose highest and lowest quotations)

there was a difference of almost: 10. GENERAL NOTI

points. The issue began to move

upward on rumours of its conver-

Rion while the other issues went HONG KONG HORTICULTURAL down, but substantial figures. After

Raveral relapses it was still able to

SOCIETY

show a net gain of nearly 8 points: THE ANNUAL ...!. SHOW. of FLOWERS and VEGET- Leaving aalde the 23rd Year Cus- toma which did not follow the gen-¡ABLES will be held at the VO“ eral trend, the market on the whole LUNTEER HEADQUARTERS ON continued, to be weak. With THURSDAY, the 28th FEBRUARY, alight Improvement on Tuesday (the 1986, from 3 p.m. to 8.80 p.m. 12th). whon loses were somewhat Lady Peel hug very kindly con- reduced, “It ́ resumed its downward sented to diatribute the prizes. movements on Wednesday and de- By kind permission of Capt. R. B.

... [spite small gains on the following Davies, V.C., D.S.O.,- A.F.C. RN, 80..

two days it eased off again on the Royal Band of H.M.S. "Corn- 76%

Saturday with net results of low wall" will be in attendance... prices for most issues.

LOCAL DOLLAR

STEADY S

2.18/19 Silver Prices Improve

The focal dollar remains steady, 1.84% opening on demand this morning at

11/10/%

Spot allver advanced 1/16, being quoted at 25 9/16, while forward |silver advanced" %, being quoted 66.25 at 25 11/16.

NEW YORK STOCK EXCHANGE

Reuter Quotations

A February 27

The following quotations from Now York have boon received by Reuter,

Tart closs 10.15

11.00 February 27 4:38% 74.80%

IN.Y. Cotton

12.29)

48814

12.81 12.50 12.50 -- 12.51 7:1262 1244

N.Y./London:

Mar

July

Oc£

1249 12.47

NY. Rubber

#Mar......

12.06 18.00 12.89 18.26 18,24 18.18; 18.42 $13.39 18.812

·07%

92

84

88%

July

Sept

C. Wheat May 70% **

July

914

C.Com May 84%

W. Wheat May 88%

Amer. Smelting: 341⁄41⁄2 843⁄41⁄4

Gon Gan N.Yen 18 Du Pont

General Motors 80 Elac Bond & ShBA

Pövt. 4% Loan 6%%% Loews Inew

Montgom

9% Loan 2%%% Frem

852785

| Admission $1.60 Children 50 cents.

J.T. BAGRAM,

Hon Secretary.

Is It Insured? ?

Insurance —–—– All Classes LOWEST RATES.

American Asiatic Underwrite

Fed, Inc., USA.

General Agente -

The London on New York cross Head Office rate was quoted at US$4.86%1)

The Band Shanghel

AD

as compared with £-U.S.$484% 24 while the New York on London rate was quoted at U.S.4861, as compared with US$4.8698---

S. E. Levy & Co.

ICE HOUSE STREET

INFRATMENT, BÁHEERS ‘1⁄2 "BROZKÉR

NEW YORK" COTTON EXCHANGE!!

COMMODITY EXCHANGE," INC." HY,

CHICADO BOARD OF TRADE-

| GANADIAN" COMMODITY/EXCHANGE, ING,

CORRESPONDENTS

· HK. Office Asis Life Buildiag

Tel, 30234