1935-06-25 — Page 6

THE CHENA MAIL FUESDAY

1935

BANKS

HONG KONG AND SHANGHAI THE "CHARTERED BANK OF BANKING CORPORATION INDIA, AUSTRALIA & CHINA. Authorised. Capital ----- $50,000,000

Issued and Faily Paid-up 20,000,000) Incorporated by Royal Charter, 1853, Reserve Funds;---

Sterling £6,500,000 Silver .. $10,000,000 Reserve Liability of Pro-

prietors

W.

HEAD OFFICE HONG XONG, DOARD OF DIRECTORS.

SL_Dadevil, Ent

Charman

C. C. Enieks. Engi

Deputy Chairman,

T. X. Gegsbarn, Eng

Chief Mannere,

HEAD OFFICE: LONDON

Paid-up Capital

20,000,000; Reserve Fund

£$.000.000 £3,000,000

Reserve Liability of Pro-

prietors

Agencies and Branches:

£3,000,000

One Star

Azurinar

Dailo Ipak

Rangoon

Saigon

Bengkok

Какие

Sobe Jinsia

Lumper

Cawnpore

Madras

Esq Colle

Sindan

Ηιμένος

New York

Laskow

Prising

<

Bell, Esq, K. S. Morrison Esq.

A. H. Compton Jan

I

Hon Mr. J. J.

G. Miskin, Esq., 1

ANOT

HANGFOX

BATAVIA

DOMBAY CALCUTTA

CANTON

CELEFOO COLONBO

DATHEN

POLCIME

HAIPHONG

HANTUNG HANTAR RABBIX

BONGKIW

110

ILOILO

TOFORE

KORE

XOBLOON

BRANCHEN

LYONS

LONDON

MALACCA

SŁANILA

AZ oborn) VTKDEN

NEW YORK

PEIPING MENANG

BANGOON

SAIGON

SAN FRANCISCO.

ITALS LUXTE ABANGHA

SINGAPORE

SOURARAPA

SONGET PATANZĮ *TESTSIN

TOKYO

TSINGTAO TOXOHAMA

Cummer: Aroente opened in Local Currency

and Find Impromite revived fur one per or whorne previa in Loral Company and sorting

on surtech will be quoted on application.

- Hong Kong. 6th April, 1935.

Hastin

Hang Lonc

nemati

Sering beremban Shanghel Famempon Vitaman ..tourbeta Taiping Torstail Jongkah

." "ALIAS" CA

Yokohama Zamboang

Farwigs zohangs und Genmad Baking businema Carrot kocomate opened and Flod" Depot eceived for us your or shorter periods at subes › winch will be posted on unplication

A BREARLEY,

Manager.

Hong Kong, 1st January, 1935.

THE BANK OF CANTON, LTD.

Established 1912.

Head Office:-Hong Kong.

Authorised: Capital

Paid-up Capital

Total Resources

8,655:004 32,170,492

Branches: Canton, Toishan: Shanghai, Hankow, Bangkok & San Francisco. London Bankers: Lloyds Bank, Eid,

Foreign Exchange and Banking) business of every description trans-

HONG KONG SAVINGS BANK acted

•The Bananews of the abone Bani se conduct. ed by the ONG KONG AND SHANGHAI BANKING COMPORATION. Him may be obtained un appractica.

FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.

V. M. GRATEURS

Chimi MaongYCT-

Hong Koss. ik temury, 132,

THE BANK OF EAST ASIA, LTD.

Authorized Capital

Paid-up Capital

Bye and Codevand Prot

£2,000,000,0

$ 5.7MAGO.N -$*£90,000.80 |

HEAD OFFICE --HONG TONG

Yox Houdtra

BOARD OF DIRECTORS Sie sich-pot the

Lian Chyn, E. P. K. Amok Ext. Trong

IND Tong. Eg, Chan Ching "hey, FL Lan

Sang. Long. Song Chu hem. Fog, and Ban Yus

Po. Esq.

Amor

Buyin

Tombay

T

Kan Tong To Itaf Vannger.

Li The Fous. Enter.

BRANCHES AND AGENCIES –

Calcutie Canton Haiphong Bankow

X

Merurse

Nagina's

Nom Yurk

Ioria

Pepin

ة السهول

-

Wh

Садирними Sabaya

dy

This

Honolulu

Ti-'-im

Lope

howtom

Salsab

Talism

London

Pans Prevcises

Ver

Yokohama

Every description of Banking and Exchang busier sanacted. 1oz kranund" on apprend mecurities,

Cures Andouinta opened in Za

Commery

and Fized Deponite moriend for ove shorver periods Lori and Foreign Cuscine

on tea whirl will be unneed on uppisestion.

Safe Deposit Drozon ya dunitio

Capital

Reserve

KAN TONG PV.

Chir

THE CHINA & SOUTH SEA BANK,

LIMITED

(Incorporated in China) Head Office ...Shanghai

Branches

$7,500,000.00

..$1,500,000.00

...All Important Cities

Exchange Bowiem nacted.

Ceneral

Content and Saving Sendable opened and Fized Deposit ved for one your or shorter perioda switch will be quoted on application.

SDUZ. CHANG,

HONG KONG BRANCH:

24. Dre Voras Eoad, Crotzal,

Manager's Offerin

Foreign Exchwoge Dogt

Get Off

Forrien

in China

and

LOCAL DOLLAR DECLINES

ommerce and Finance

Silver Prices Drop

The local dollar has declined a halfpenny, opening on demand this morning at 23

Silver prices also fell, spot being] quoted at 31 and forward : at 814-

The London on New York cross- rate was quoted at £-U.S.$4.9434. as compared with US$198, while the New York on London st quoted cross-rate

US$495, 29 compared with 5 US$4.94

EXCHANGES

TO-DAY'S QUOTATION

On Shanghai-

On Singapore---

On demand On Japan-

Current Accounts opened and Fixed] Deposits received for one year or On India- shorter periods at rates which will be quoted on application

Safe Deposit Boxes (various sizes)] for hire

LOCAL SHARES

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

Banks

HK Bank $1040 b FK Bank (Londor) $120 n. Chartered Bank 514% -1. Mercantile Bank A. & B. $1

Mercantile Bank C. £133⁄41⁄2 11.. Bank of East Asia $81 n.

Insurances

Canton Ins. $203 n. Union Ins. $355 ** China Underwriters 40 ets. Di China Fire Ins. $582 n. HK Fire Ing? $200 mi International Assce. $4 2.

Shipping

Douglases $36 - HE. Steamboats $4 - Indo-Chinas (Pre£), $30 Indo-Chinas (De£), $12.1. Shell (Bearer) 70/3-1..

Union Waterboats $111⁄4 n

Mining

Antamoks. 71. cts. 1.

Benguet Goldfeld $10 n.

Big Wedge 8 cts. D

On London--

$11,000,000

On T.T. and demand

2/$

4 months" sight

2/8%

Malatocs $18 mi

Credits 4 months' sight...2/4

Baguio Gold 21, cts. D

On demand

139

Benguet Consolidated $10 n Benguet Exploration 10 ets. Di

96%

Gold Creek 30. cts. n.

On demand

191

Gold River 5 cts. D.

On T.T. and demand ....

148

Ipo Mining 90 cts. m.

On New York-

Itogons 32 cts. 1.

Salacots 12 cts. T

On demand

55

Credits 60 days' sight

57

Chief Manager

On Batavis-

On demand

80%

On Paris

On demand

835

Credits 4 months" sight

$80

Kailan Mining Ad. 14/6 n Langkata (Single) Sh. $14 S'hai Exploration Sh. $41⁄2 Shai Loans Sh. $54 Raubs $5.60 55 58 Venz: Goldfeld $2.27 n.

Docks, etc.

On Saigon-

On demand

$34

HK and K Wharves $78

On Manila

On demand

111

On Bangkok-

On demand

$24

LOOK POONG SHAN.

SAFETY FIRST:

To Safeguard Your Valuables and Jewelleries.

Deposit them in a Vault

that is really: FIRE-PROOF BURGLAR-PROOF

DAMP-PROOF?

OUR SAFE DEPOSIT VAULT.

located on the Mezzanine Floor of Sovereigns bank buying rate 2/4%

Our New building is Specially Con- Bar silver per oz

stracted se provide all of these Im-Bar silver in Hong Kong |portant Qualities.

You may obtain a Safe Deposit Copper cash

Box in this most up-to-date Vault for Copper cents

your own use at a very moderate Een-Rate of native interest

Chinese sub. coin.

tal

Inspection Cordially Invited

THE NATIONAL COMMERCIAL Hong Kong sub coin

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

THE "

AMERICAN EXPRESS COMPANY,

INC.

Head Office: 65, Broadway,

"New York

.U.S.$6,000,000.00

Capital Surplus Reserves

-2.183,633.06 $70.731.05.

BRANCHES:-

Amsterdam

Antwerp Athens

Geson Gagow

The Bagpe

Milan Nave. Sapira

Samu

Hatase

Pirates

Bair Bre

Senburg

Paris

How

Priping

- Bridether

Palerurt

Barberg

Interinken

Formulezi Landers "Liverpool

Lussoo LANTOF Marweiling

Kotterdam Eame Khenchai Southampton

Sexempore

Bermen

Beit

Baoling

Cairo Calcutta Cares Colombo Copenhagen Dublin Edinburgh

Monte Carlo

Force Gebets

Manila

Mich

Zatick

Bratches

Manager.

THE YOKOHAMA SPECIE BANK

LIMITED

Established 1880

Keatreat

masing Taormina Ta Venice Tooshansa

314

дом.

ZYPAL. par

3 Dill 32% dis. par

RAW RUBBER PRICES

Latest Quotations From

Singapore

Messrs. H. B. Joseph & Co. have received the following Straits. Currency quotations from Singa- pore for Eaw Rubber.

Buyers

Sellers b. 20% 8. July/September 20% down 3⁄41⁄2 ..b., 20% s.

·Spot 20% down

Oct/December 21% downb,

21% 5.

Jan./March 22% down / b

22% 3. Market: Dull

URUGUAYAN TRADE MISSION IN LONDON

London, To-day-Dr. Burgin,

of American Express Parliamentary Secretary to the

Cum, rts. R.K. and K. Wharves ex right

$17 n H. K. and K. Wharves right $1

·

H.K. and W. Docks $9% The Providents (old) 85 cts. En -Providents (new) 20 cts. n-

Hong Kew Sh. $240 n. New Engineering Sh. $4 n. S'hai Docks Sh. 390 1.

Cotton Mills Ewo Cottons Sh. $8 a. Shanghai Cotton (old) Sh-

$66% 1

Shanghai Cotton (new) $41%

Zoong Sings Sh. $81⁄2 n. Wing On Textiles, Sh. $55 - Lands, Hotels, etc. EK. and S. Hotels $4. HK. Lands $34 b. ~ EK Lands 4% Debentures

100% b

Shanghai Lands. Sh. $201⁄2 TL- Metropolitan Lands Sh $10 m. Humphreys $8.10 b.

n

HK Realties Chinese Estates 390 China Realties Sh. $4 n. China Debentures $125 2..

Public Utilities

HK Tramways $13 b. and sa. Peak Trams (old) $71⁄4 2." Peak Trams (new) $5% n Star Ferries, $77-5 Yaumati Ferries $171⁄2 n.. C. Lights $865/8.85 32. HK Electrics $553⁄41⁄44 b. Macao Electricz "$2334 s. Sandakan Light $81⁄2 a

Company in Principal cities of United, Board of Trade, received Dr. Cosio Telephones (old) $2034 b., $20.10

States of America and Canada.

and the members of the Uruguayan

All classes of Commercial Banking trade delegation at the Board of Transactions undertaken.

Personal investment

handied.

Trade yesterday. The negotia- accounts,tions are now practically completed, and an agreement was initiaßed as The Company offers to intending a referendum-British Wireless Travellers the use of its "Travellers Service. Cheques" and Letters of Credit aud;} addition, the world-wide services)

Capital (full paid-up) Yen. 100,000,000 is thoroughly equipped a REICHSMARK QUOTATIONS

Reserve Fund

Yen. 125,800,000;

Head Offices--YOKOHAMA

·Branches and Agencies at:

Alexandrin

Batavia,

-BerlinTM

Bombay

Calcutta

Canton

Nagasaki

Nagoya

New York

Osaka

Paris

Peiping

Dairen (Dalny) >Rangoon Fengtien (Mukden) Rio de Janeiro

Hamburg

Hankow Harbin

Hung Kore

Honoinin Hsinking Karachi

Kobe

London

Los Angeles

Moji

San Francisco

Seattle

[Serizing". Shanghai

Singapore Souzabaya Sydney

Departa

E. W. DUGGAN.

Berlin, To-day. - Beichsmark quotations (without guarantee) are New York, 40.35, Paris, 610.75; Amsterdam, 59.25; and London, 12:25. The Paris sterling

THE WING ON BANK quotation is 74.625, and the dollar,

* LIMITED:

Head Office Hong Kong 2. Dez Voruz Band Central, Authorized Capital $10,000,000 -

NO LONDON BANKEES

Westminster Band, Ltd. 17 Foreign Exchange and every des Tcription of banking business.

transact

Current Accounts and Savings Ac

counts opened.

ceived states

Deposits re

will be quoted

on application Special rates gives

for Special; deposits,

ship and

15.11 Trans Ocean Service

THE

SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in Cams)

sa

Telephones (new) $8 b China Buses Sh. $113⁄41⁄2 1. Singapore Traction 10/6 b. Singapore Pref. 22/6-b, 2

Industrials Malabon Sugar $851⁄2 2. Cald: Macy (Ord.), Sh. $19

Cald: Marg. Pref), Sh. $18 n. Canton Ices $1.80 1 Cements $5% Converted HK Ropes 2 ni

Stores, etc. Dairy Farm $1415 b. Watson $8.10 n Lane, Crawfords $2 a Mackintosh $7.2 Sincmes $8-1 Wm Powells, 20 cts. a. Wing On (HK)) $100 n.

KK Amusements $185 11.

Enterprises

LIGHTENING OF

TAX BURDENS

MANY EXORBITANT

LEVIES REMOVED

HELP FOR AGRICULTURAL CIRCLES

BY NATIONAL GOVERNMENT

Nanking.

NEVA ADVERTISEMENTS

HOUSING COMMISSION (1935).

E above Commission bas been appointed to enquire into the housing dificulties in Victoria and Kowloon, with special reference to overcrowding and its effect on tuberculosis, and to suggest steps, which should be taken to remedy existing condi» tians

Members of the public are in vited to submit their views on the

From the shoulders of the people of China, particularly the above subject, in writing, or to farming class, has been removed a heavy financial burden and say if they are willing to give verbal evidence before the Come many obligations to the State, amounting to no less than $31.-mission. 900,043, as the result of the abolition during the past year of

and miscellaneou

a total of 4,101 kinds of exorbitant taxes levies in the various provinces, municipalities and districts.

This figure was revealed by Mr. Kao Ping-feng, Director of the Department of Taxation of the Ministry of Finance, în a report reviewing the efforts of the Ministry in the readjust- ment of local finance, which was broadcast from the Central Broadcasting Station on Jome 10.

MORATORIUM

DECLARED ON

|

Correspondence should be ad- dressed to The Secretary Housing Commission, ~ c/o Public Works Department.

W. EL OWEN. –

Secretary.

PUBLIC AUCTIONS

According to Mr. Bao, theTHE undersigned have received +general principles for the readjust-instructions to sell by Public

ment of local finance were out- Anction. lined at the National Financial: Conference held last June in Xan-1

GERMAN DEBTS king under the auspices of the

Ministry of Finance. These called at

NO CASH TRANSFERally for the abolition of

On

Friday, the 28th June, 1935 commencing at 10.30 a-mII-

No. 124, Humphreys Buildings,

Kowloon

A Quantity of VALUABLE HOUSEHOLD

FURNITURE

On view from Thursday the

June, 1935.

exorbitant taxes and miscellaneous levies, the fixation of local budgets. FOR ONE YEAR

and the readjustment of land taxes. Among the exorbitant taxes. Mr. "FUNDING DEBT BONDS”

Kad said, the beaviest were the oth TO BE ISSUED

land tax surcharges. Before the decision of the National Financial -CHINA MAIL" SPECIÁL

Conference to abolish all exorbă- Berlin. To-day. ·

tant taxes, there were about 70 Owing to the fact that the inds of land tax surcharges each "German foreign exchange situin Kitnom and Cheklang, and lation is far from improving bout 110 kinds in Hunan

Enormous Surcharges

Such surcharges, were

often

and has got still worse," Dr. Schacht has declared a complete moratorium for a jear from July 1 on all maturities arising from medium and long-term much heavier than the land tx - obligations to the United self. Mr. Kao pointed out. As an States and other nations with illustration, he said that while the which no clearing quotation has proceeds of the land tax in the

in district

Kiangsu been made. Instead of a cash Haimen transfer creditors will receive amounted to about $28,000 annual- Funding debt bonds." which ly, those of land tax surcharges will run on January 1, 1946, amounted to $750,000, being ap- and bear 3 per cent interest proximately 20 times the former. and amortisation at 3 per cent.

(Continued on Page 7)

The British and other creditors with whom clearing agreements have been arranged are not affect-} ed-Reuter.

{Continued on Page 7)

NEW YORK STOCK MARKET

Stocks Somewhat Less Steady

DECLINES SHOWN BY AVERAGES

were

In their market report, Messrs. 15. E. Levy and Company, corres pondents for Messrs. White Weld and Company, New York, states,

"Stocks: Stocks to-day somewhat less steady and Dow Jones Averages showed declines. We are of the opinion that Traders should protect their positions. Business done: 1,120,000 shares.

“Grains: There was a fair mea- sure of support after an early de cline, due to a forecast showing unsettled

conditions. weather Country offerings of Com were Total sales: Wheat: 13,069,- bushels; Corn: 4,068,000

nil-

1000

bushels

(Continued on Page 7)

WEALTH SHARING

TAXATION

Roosevelt Prolongs Congress Session

Washington, To-day President Roosevelt has in- formed the members of Con gress that he desires to have his wealth sharing, taxa

enacted this ses sion, which is therefore likely prolonged throughout the

enter

ATEMENT: Afrom Washing-

ter a two and a

the White

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 Bulding.

Is It Insured?

Terms: Cash on Delivery

LAMMERT BROS.,

Auctioneers.

Hong Kong, June 25, 1935.

undersigned have received

Tinstructions to sell by Pablic

Auction

On

FRIDAY, the 28th June, 1935 Commencing at 2.30 pm.

at their Sales Boom, Duddell Street

A Quantity of VALUABLE HOUSEHOLD

FURNITURE

comprising:

Chesterfield coaches and arm- chairs, Teak hatstand, Side boards, and Dining tables, Armchairs chairs, Square and Round tables, Wardrobes, Dressing tables, Iron and teak bedsteads, Tea poys, drawers, Folding Chests, of screens, Desks, Filing cabinets, Teak and glass cabinets, Teak and glass bookcases, Cupboard, Ice chests, etc, etc.

Gramaphones and records, Sew- ing machines, Typewriters, Carios, Vases, Flower pots and plates, Table and Wall clocks, Oil paint- ings, Pictures, Dinner crockery, Tea sets, Cooking utensils, Bruze and brass Sgures, Ornaments, Forks and Laives, Brass ware, Silver, ware, Cloisonne ware, Glass ware, Linen, Carpet, Rugs, etc

also

A Quantity of Black Wood Furniture

including:-

Joss table, Desk, Table, Stools, Armchairs and chairs, Tea pogs, Opium stool. Curio cabinet, etc. Lete

3

and

One Piano by Moutrie

Two Padio Sets

One Enamel Bath

One Cine Camera, projector,

screen and accessories

On View from Thursday the 27th June, 1935.

-Terms: Cash on Delivery.

LAMMERT-EROS,

Auctioneers.

Hong Kong, 25th June, 1935.

FINANCE EXPERT FOR CHINA Britain Appointing Sir F. Leith-Ross

Tandon -day-

Asked in the House yesterday whether Powers were sendin

STONG