1935-07-03 — Page 7

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION

Authorised Capital

$50,000,000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Issued and Fully Paid-up 20,000,000 Incorporated by Royal Charter, 1853. Reserve Funds—t

Sterling £6,500,000 Silver $10,000.000 Reserve Liability of Pro-

prietors

HEAD OFFICE HONG KONG.

BOARD OF DIRECTORS,

S. B. Dodwell, Enge

Crairman,

HEAD OFFICE: LONDON

Paid-up Capital 20,000,000 Reserve Fund

3,000,000) 65,000,000)

Reserve Liability of Pro-

guzietors

£3,000,000

Agencies and. Branches:

Inila

Fangoes

Assiteer

Bazgick

Karachi

Klang

Dammber

Calrapte

Carton

Lapar Kuching

A. E. Compton. Esq-.-.

Catre

-1

- Kedan

New York Piping

(Peling) Fonsag

Taittad

← C Knight, Ing.

Deputy. CharYIDAE.

V. 32 Gexyoura, Esq.,

Chief- Manager.

W. H. Bell, Esq. A. S. Morrison ES-

M. T. Johnson, Bag, Colorado

Deli Hon. Mr. J: J. Paterson,

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

ΑΝΟΣ

RANGIOR

BATAVIA

BOMBAY

VITA.

HAIPHON

HAN

HANKO

HARPIN

HON=KEY

FLOITO

JOH

PORORE

KORE

KOWLOON

BRANCHES

LONDON LYOXS

SLALACCA

NAXILA

NUAR obere}

NUKDEN

NEW YORK

PEIPING

SENANG

KANGOON

SAIGON

SAN FRANCISCO

KUALA LUMPUR.

SHANGHAI

SINGAPORS

SOURARĀ VA

<ENGED PATANI

- ngay young mapani Ja

THEYO

TSINGTAO

TOKOHAMA

Comment Amoene exprend its Loral Cummen (5

and Fixed improvite pretend for her or shqan perial da Lomal Company and starting -

Barbie Đoạn Trong

transacted.

Shanghai Singapore

Tongkah

Yokoha Zamboang

Foreign Exchange and Csomal Banking Bestine Current Accounts opened and Fixed Deporte received for one your..or shorter periods at' rates which will be quoted on' xɔpleation.

A BREARLEY,

Manager. Hong Kong 1st January, 1935.

THE BANK OF CANTON, LTD.

Established 1932.

Head 06ce:---Hong Kong.

Authorised Capital

Total Resources

ich will be quoted in prisonHankow. Bangkok & San Francisco.

Hong Kong. 6th April, 1935.

HONG KONG SAVINGS BANK

The Bin of the above Imara in conduca

rd de tiu 14NG KONG, AND SHANGHAI BANKIM. ACRPORATION

Oblastend 1985 tyverison.

J

Shay

the

BANKING CORPORATION,

3. M. CRATEKEN,

Boug hang. Si Purdy, 295.

THE BANK OF EAST ASIA, LTD.

Aetherived Capital

Paid-up Capital

Beserve and Codirmir

Li En

•

~,480,000,00

BRAD OFFICE. JONG KONG

12 Den Vs Bad weat

BOARD OF THEEXTOR

bus p. K ...

Chunx, 4 ready

Chon

JUD Tang. En.. Chan Came Shen

THE CHINA MAIL, WEDNESDAY, JULI

Commerce and Finance

LOCAL DOLLAR DECLINES

Silver Prices Fall

The local dollar has declined a farthing, opening on demand this morning at 2/24-

Silver prices, however, also fell a farthing, spot being quot- jed at 31 and forward st 316-

LOCAL SHARES

TO-DAY'S QUOTATIONS

NEW YORK STOCK MARKET

Summer Decline Now More In Evidence

OUTLOOK FAVOURABLE

** FOR AUTUMN

In their market report, Messi..

The following is the list of local S E. Levy and Company, corres share quotations issued toyday?pondents for Messrs. White Weld

and Company, New York, MEMBanks

HE Bant $1085-3, $10774 39. HF Bank (London) £124 n. Chartered Bank $141⁄2 n Mercantile Bank A. and

$31

Mercantile Bank C. 41371⁄2 n Bark of East Asia $81 I

Tnsurances

The London on New York cross- rate was quoted at £-US$4- 938, as compared with S-USUNA $4.94%, while, the New York on London cross-rate was quoted at £ US $4.95%, as compared with 5-US $4941⁄4

EXCHANGES

TO-DAY'S QUOTATION

Current Accounts opened and Fixed | Deposits received for one year or [shorter periods at rates which will be On Japan-

quoted on application.

Safe Deposit Boxes. (vazions “sizes) for hire

LOOK POONG SHAN,

Chief Manager

Canton Ins. $203.n. Union Ins. $365 b. Chima. Underwriters 40 cts. Du China Fire Ins: $382 n.. EK Fire Ins. $200 n. International Asste. $41.

Shipping

Douglases $36-1- H.K. Steamboats $4 n Indo-Chinas (Pref), $30 n Indo-Chines (Def), $12. 12 Shell (Bearer) $71/S - Union Waterbosts 2111⁄4 n.

Mixing

Antamoks 70-cts. D. Balatoes $15 n. -

B.

FINANCES OF AMERICA

Record Expenditure For Peace Time

LARGE INCREASE IN PUBLIC DEBT

Washington, To-day. For the last fiscal year the total receipts were $3,300,000,000, compared with a budget estimate of $3,712,000,000 The total e- "Stocks: The action of the mar-penditures reached a new peace ket to-day indicated a desire on time high figure of $7:376,000,000, be part of many holders of stocks including to withdraw on any strength, as gency spending, the results of the House of Repre

$3,655,000,000

emer

US. BANKING BILL

To Be Considered By The House

The gross public debt increased sentatives vote on the Holding from $27,053,000,000 to $28,701, Company Ball have apparently been000,000. Berter. well discounted. The decine in business for the Summer is also now more in evidence due to the confusing nature of recent dere- lopments at Washington Despite the toppy appearance of the mar ket, there is no evidence yet of any i large-scale liquidation of holdings and we continue to feel that the easiness of the Money Market and the favourable Fall outlook are likely to limit any reaction phases Business done 1,200,000 shares.

(Continued on Page 7)

Washington, To-day.

ADVER

SEMEN

PUBLIC AUCTIO

Tinstructions to sell by

#13-undersigned have red

O

Friday, the 5th July, 19 commencing at 230 pm at the Sales Room, No.

Hankow Road, Kowloon "A Quantity of VALUABLEHOUSEHOL

FURNITURE

One Pisno

adio

One Remington Portable

writer.

One Fine Tientsin. Garpet. One Fine Carved Black

Chests

Two Radio Sets.

and

Sale At & Pati One Armstrong Siddley Sester Tourer 149 HP Sno Miles to the gallon. In good

The Senate Banking Committee ning order. has approved the revised Banking On View from Thursday Bill, which now goes to the doom4th July 1935.

LAMMERT BROS Auctioneers.

of the House. Barber he fact Terms: Cash on Delivery, that the administration desired; some changes in the Bill was strongly indicated, following a con-

velt and some officials of the Trea-r

Board Reuter.

ference between President Roos. A

Benguet Consolidated $10 HALF-YEARLY CLAIMS and the Federal Reserve

Benguet Exploration 10 cts, 1.

Benguet Goldfield $10 m..

Gold Creek 30 cts. #

Gold River 5 ets. Ipo-Mining 90 cts.

On London

1

On TT. and demand

2/234

$11,000,000

Paid-up Capital

4 months' sight

2/2

8,635,000

Credits: 4 months' sight

2/34

32,170,492

Branches: Canton, Toishan, Shangha

On Shanghai...

Baguio Gold 22 cts. b.

London Bankers: Lloyds Bank, Ltd...

Foreign Exchange and Bankinge

On demand

137

business of every description trans-On Singapore- acted..

On demand

9394

Big Wedge 8 cts:

On demand

18534

On India

On T.T. and demand

144

On New York...

On demand

54

Credits.60 days sight

569

To Safercard Your Valuables and -Jewelleries.

On Batavia

On demand

78

1On Paris-

Venz; Goldfield $2.30 n

Docks, etc.

On demand

$15

i

Credits 4 months' sight

860

The

On Saigon-

HK and K Wharves. (new) $

On demand

8114

.JP

108

8434

33

HK. and W. Docks $66 2 Providents (old) 85 cts. n. Providents (new) 20 cts. nə Hong Kew Sh. $240 New Engineering Sh. $4 n S'hai Docks Sh. 990 n.

Cotton Milg

SAFETY FIRST!

Deposit them in a Vault

that is really.

FIRE - PROOF

BURGLAR-PROOF

DAMP - PROOF:

OUR SAFE DEPOSIT VAULT

14 located on the Mezzanine Floor of

Sana, Ex. Work Chus som 2-4 and Ba* **[0m New building is Specially Can- Po. Inc.

Rovenia

Fan Zone Pu. Eng., Chial Hansen, *

The Fore. Fat Souve

EDANCILES. AND AGLNŐTT

Mail

قشه مسي

Bombay

Bonciuiu

Peti

J'ann

Is-sping

PADERS

Cate Paphos Hunk

مدار

pokalapati

Yamaday smarshaya

tony Testerica

Kontak

Korinati Londan

Aun terrine

Ti. Timo Tokya Vancouver

Every deserigtime of: Banking and "Exebo business" mastri Lokas stated on approved

stracted to provide all of these Im portant Qualities.

On Manilana

On demand

On Bangkok-

On demand

You may obtain a Safe Deposit Sovereigns bank buying rate 2/37% Box in this most up-to-date Vault for your own use at a very moderate Ren-Bar silver per c

Bar silver in Hong Kong Copper cash Copper cents

Ital

Inspection Cordially Invited. THE NATIONAL COMMERCIAL

& SAVINGS BANK, LTD. "Corner of Ten Fonse Street and Des Voeux Road, Central

THE

Currens Brovante apened in Zone AMERICAN EXPRESS COMPANY,

and Fixed Degumite received, for one ment of! aborter periods in "Tonalne Formica Comencin

on terms wind wil be stated on application.

Salt: Deposit India To Im

THE CHINA & SOUTH SEA BANK,

LIMITED

(Incorporated in China)

Head Office.Shanghai

INC. *

Head Office; 6, Broadway, New York

Havan Hamberg Har

****ZO

Itogons 32% ets, nom. 4. Salacots 12 ets. n.

Kailan Mining Ad. 14/9 n. Langkats (Single) Sh. 14 = Shai Exploration Sh. $44 S'hal Loans Sh. $54. Raubs $5.90

ON GERMANY. Reichsbank Statement

Issued

IMPORTANT WAGE DAY ON -

EVE OF ANNOUNCEMENT

-CHINA MAIL" SPECIAL

The

BRITISH REVENUE UP ALL ROUND

Expenditure Slightly Higher Also

Hong Kong, 3rd July, 1925.

INCOME TAX FOR CHINA

NEW REGULATIO]

DRAFTED

Estimated Yield O

$5,000,000 A Year

Nankin

- The Ministry of Finance Tec

Berlin, To-day,

London, to-day. Reichsbank statement

Exchequer returns for the first ¡dated June 29 and published on

Tuesday reflects clearly the ex-quarter of the financial year show HK. and K. Wharves (old) $77ceptional claims made for meet-that ordinary revenue, exclusively decided to enforce income

in the county from the ing the half-yearly settlement of self-balancing items, amounts

fiscal year beginning from Jak the tension being increased by to £129,355,955, compared with

1935. The regulations govern the fact that the day before the £128,158,824 at the corresponding the enforcement of the tax.

drafted and forwarded to the Le Customs receipts are greater by ative Yum for revision and ad

tion.

Ewo Cottons Sh. $7 Shanghai Cottor (old) Sh.

65 IL

JOL

par

35% p2

32%

dis.

par

Shanghai Cotton (new) $40 ¤. Zoong Sings Sh. $85 n Wing On Textiles. Sh. $55 n Lands, Hotels, etc.

Rate of native interest Chinese Arb Coin_. Hong Kong sub. coin .....

THE MERCANTILE BANK OF

INDIA, LTD.

HEAD OFFICE:

15. Gracechurch Street, London, E

Authorised Capital ........£3,000,000 - Subscribed Capital

1.800.000 Paid-up Capital .............. 1,050,000 Reserve Fund & Rest.... 1,247,452 BANKERS:

The Bank of England & Miðland Book, Ltd BRANCHES:

Tandy

Sprachi

Kola Pharo

Kuala Lipis

Chirt Making

Capital Surpins Reserves

_T_S:$6,000,000.00 2,183,633.06

870,731.05

BRANCHES-

Armerdata

Katwerp

Adres

Cremos - Glamsha The Hague

Ama

Milan King Sapien Pirami Paris

Rangha

Bombay

Calcotin

Colombo

Deiki

$500,000.00

Berlin

Gate

$1,500,000.00 -

Bombay

Hong Kong Nowak.

Kadres

All Important Cities

Brusela

in China

Forsiga Exchange

and General

Banking

Bodden, transacted.

Menger

Cairo Calevita Cantre Colomie Copenhagen Dahila Ellsburgh Flortos Genera

Marseilles Horte Carlo

Manich

T'ambiz Tronning Tienda

Schobers Zurich

ૉ

HONG KONG BRASCH:

Capital

Réserve

Branches

Current wed Suving Accavala opened små. Fiord") Deposite meet for one year or shorter periods -32 "rates "why-is will be quoted on, application,

SOU Z. CHANG

21. De Foras Boud Crates),

(Kanagaʻa Ofis

Foreign Exching Dept.

Durice

·Cashier's ・ (moe

General

THE YOKOHAMA SPECIE BANK

LIMITED.

Established 1880

Heidelberg Interlaken

J Londoa Liverpack Lante

Montreux

Priping Palermo Botterȧum Rome Shanghai Southampton

Singapore

New York PRENDE

·Port Louis

("Iauritian)

Kuala Lumpur Singhai Fustan (Pahang) Sienia

Singapore

HONG KONG BEACH

Every description of: Banking and Exchange bariorus texoracted..

Travellers Cheques Immand..

Trustee and Executorships under- taker

INTEREST allowed on -Carent, Accounts sod Find Deposits", at Hates that may be ascertained: (as application..

1 RESVEDY.

Hong Kong, 1st April, 1935.

Branches of American Express. Company in Principal cities of United's Bond Central States of America and Canada.

All classes of Commercial Banking! Transactions undertaken.

Personal handed

investment

accounts

The Company offers to intending Travelers the use of its. “Izavellers Cheques" and Letters of Credit and, Capital (full paid-up) Yen 100,000,000 in addition, the world-wide services Reserve Fund ...Yen 125,300,000 of its thoroughly equipped Travel

~Head Office:-YOKOHAMA

Branches and Agencies at:

¿Batavia

Berlin

Bombay

Calcutta

Cantoa

Nagasaki Nagoya

New York Osaka

Paris

Peiping

Dazen (Dalny) Rangoon

Fengtien (Maiden) Rio de Jentiro

San Francisco

Hamburg

Hakow

Kerbin

Hong Kong

Honolulu

Semarang. anghals

Departme

E. W. DUGGAN,

Manage

THE WING ON BANK

LIMITED

Head Office: Houg Kang 26, Des Voeur Road Central: Authorised Capital: $18,000,000

LONDON BANKERS://

Westminster Bands-Ltd Foreign Exchange and every dis- cription of banking business transset

Cument Accounts and SevALE counts opened Fixed Deposits ceived at rates

THE

Хазирис

SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China)

Capital paid up

$5,000 Reserves

Capital Savings Dept $500,000: Beserve Savings Dept $600,000.

Head-Office Shanghai 200 A Bank having its mission the industrial; development of Chins and the fostering of her commercial relations abroad. Hong Kong Office

Post

7. Ice House St. Phose 31481-2-3.

Is It Insured?

statement was prepared was date of last year. an important wage day.

and

In the National budget for

Taking these two factors into £1,295,000 than a year ago consideration the Reichsbank's compared with an estimated

in demand were crease of $5.474,000 for the whole 24th fiscal year, the Ministry TEBOUTTES not more than at the same-time last year.

year.

Excise shows an increase of The entire value of the legal £1,700,000, compared with an eat tender in circulation aggregated mated increase for the whole year 5,384 millions against 5,910 mi- of £1,750,000.

The total ordinary expenditure. lions last month and 5,781 mil lions a

year ago. The gold exclusive of self-balancing Items stock increased by 09 to 85.6 for the current year to date, is

Finance bus already included

new Item, income tax,” which; is estimated, will yield an að tional income of $5,000,000 to national revenue.

Previsions Outlined

The draft regulations, which ha already been passed by the Ce

HE. 2nd S. Hotels 4 b. and million Reichsmarks. The foreign £185.570,728, against £177,876,697ral Political Council consist

carrency reserves were unchang at the corresponding date of 1934 he following provisions

53.

H.K. Lands $35 nom.

HK Lands 4% Debentures

100% L

Shanghai Lands Sh. $201⁄2 1. Metropolitan Lands Sh. $10 n. Humphreys $87% "1. HK Realties $4 n. Chinese Estates $90 m- China Realties Sh. $4 1. China Debentures $123 a

Public Utilities

ed at 40 millions, making a total increase of 0.9 to 89.5 million Reichsmarks.

British Wireless Service

The note issue increased 3930 BERLIN STOCK

millions to 3,895-2 million Reichs- marics:

The total amount of credit Ja-] sued, as measured by bills, cher ques, advances and investments, was augmented by 589.2 to 4- 682.2 million Reichsmarks.

HK. Tramways $18 b. $1830 Trans-Ocean Service,

12.

Peak Trams (old) $7%1⁄2 n. Peak Trams (new) $5. Star Ferries $77 L. -

Yaumati Ferries $17, n.

C. Lights $8.90 p

HOURS OF WORK IN COAL MINES

MARKET

Small Volume Of Business

**CHINA MAIL * SPECIAL

(3) The income tax is a nation

(2) No surtazes szall be levie with the income tax.

(3) The income ficti levied first on the following classes:

Class I: (a) The income

porations, commert Hixhments, business warehouses, and with a capital

(b) the incomes of Tess ex

sional nature.

A Perlin, to-day. Again the share market mono- polised all the interest investors had to display, but this did not Class II The incon result in business of great volume: Prices, however, kept fr, some standard shares, advancing appre. ciably.

International Pact To Fixed interest securities

Be Ratified

London, to-day- In answer to a question in the House of Commons yesterday the Minister of Labour, Mr. Ernest

EK Electrics $3771⁄2 by Macao Mechins $27/1⁄2 2. Sandakan Light 5374 a.– Telephones(old) $20.90 b

$2110 sa Telephones (new) $8.20 n. China Buses Sh. $1131⁄2 n Singapore Traction 10/6 b Singapore Fref. 22/5 b.-

Industrials Malabon Sugar 331⁄2 =

the revision of the hours of work] Cald: Macg (Ord), Sh. $1934 in the coal mines convention at the last International Labour Con-

were

erratic, the price changes so far as they occurred being mostly down- warda

Call money was at 2 to 3 per cent. Trans-Ocean; Service.

From

of wor

allowance

sion, and

public ser occupations

derived pensation

those in other

Some Exemptions

(4) The conditions under which

a person is exempted from the ins come tax shall be emmeratel separately

Brown, announced that, following TEA RESTRICTION The income tax shall de

Cald: Marg (Pre£), Sh $13 ¤ ference, the Government, was pre- Carton Ices 180 1-

to ratify the

reement multaneously, with the other six

Cements $58 HK Ropes $21.

Stores, etc. Dairy Farms $141⁄2 b Watson $3.10 b. Lane, Crawfords $240 3. Mackintosh. $72-

Sinceres 37 m

W Powells 70 cts n Wing On (HK) $100 2

Wire

Service

RAW RUBBER PRICES

Latest Quotations From

Singapo

SCHEME

Government Action Unnecessary

MARKET RISING STEADILY

levied on the basis of a progr

| sive ratio.

(6) The

thod

för ascert income

@rocedur

PEICHSMA

OTATIONS