1935-07-19 — Page 6

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION

Issued and Fully Paid-up

Authorised Capital

Reserve Funds.com

Sterling

5,500,000

Silver

0,000,000

Reserve Liability of Pro-

prietors

THE CHARTERED-BANK OF INDIA, AUSTRALIA & CHINA.

$50,000,000

20,000,000 Inowrporated by Royal Charter, 1853

HEAD OFFICE HONG KONG.

BOARD OF DIRECTORS.

& E. Dodwell Eng

Chairrosa.

Enight. Eng.

HEAD OFFICE: LONDON Paid-up Capital

20,000,000

Reserve Fund ...

Reserve Liability of Pro-

prietors

£3,000,000 $3,000,000

£3,000,000

Agencies and Branches:

Alor Star

Bosho

Bangvos

Amrimar

Bangkok

Karoti

Klang

Saigon Seconding Seremban

Bombay

Kabu

Calzatio

Koala

Lapur

Cavaporw

Xxching

A. H. Compton Esq

Cebu

Mudros

Tripics

Macia

**Teutain

Montan

Tangkah

Haiphong

New Tak

Prising

** (Peking)

Binaker) Tingt Yokohama Zamboanga

Deputy Chaiccom

T. 24. Grayburns Eng.

Chief Managee.

W. H. Bell, Esq., K&Morrison Esq, Canton

M. T. Johnson, Esq, Colombo -Hon. Mr. J. J. Paterson,

Pelli

G. Miskis, Esq. T. E Pearce, Esq., Bamber

AXOT BANGKOK

KATAFI

BRANCHES D

LONDON LYONS MALACCA MANILA

L

KOMBAY CALCUTTA

C:EXTOO COLOMBO

DAREN

FOXXCHOW

HAIPHONG

HAMBURG

HANKOW HARBIS HONGFEW

BLOND

FOR

JOHORE

ХОВЕ

KOWLOON

+

SCAR (Jobs) MURDEN

NEW YORK

PETTING

XING

BANGOON

SLIGOX

SAX FRANCISCO

KUALA LUMPUR

SHANGDIAL

SINGAPORE

SOURARSTA

SUNGET PATANI TIENTSIA

TESKTO

TSINGTAO

YOKOHAMA

Cument Accounts opened is Local Currency and Fixed Depila montend for one weer or abrum presude in Lewal Carney and Berling on sorrera which will be quoted on applicaZÍON.

Hong Kong, 6th April, 1935.

HONG KONG SAVINGS BANK

The Bevin of the above Bank in coodact ed by the HONG KONG AND SHANGHAI BANKING CORPORATION. Dies may be obtained a spplication.

FOR THE HONG KONG AND SHANGHAI BANKING CORPURAZION

T. M. GRATBERNS.

Chief Manager.

Bong Kingch Febrmes,"1905

THE BANK OF EAST ASIA, LTD.

anthorised Capital .....

Pud-up Capitel.

Basers and Tovided Profits

Sextow Harip

Pizang

Shanghai Singapore

Sitowan Doutubeve

THE. CH MAIL-FRIDAY, UNI 11.1935

Commerce and

Finance

LOCAL DOLLAR IMPROVES

Forward Silver Price Up

The local dollar has improved a farthing, opening on demand this morning at 2/14-

Spot silver was steady at 30- 3/16 but forward silver advanced 1/16 to 30%

The London on New York cross- [rate was quoted at S-US$495

as compared with £US$49633 while the New York on Lau Foreign Exchange and General Busting bumsenden cross-rate was quoted at Cual Accouerte opened and Find Depon US$495, as compared with incaid for one year or sharing perioda st rates—US$4.96%- which will be quoted on, application.

A. BREAKLEY,

Manager. Hong Kong, 1st January, 1935.

THE BANK OF CANTON, LTD.

Established 1912.

Head Office—Bong Kong.

Authorised Capital

Paid-up Capital

Total Resources

$11,000,000

8,655,000

32,170,492

NEW YORK STOCK MARKET Lop-Sided Business

Picture

GRAIN MARKET NERVOUS AND IRREGULAR

Branches: Canton. Toishan, Shanghai Hankow, Bangkok & San Francisco. London Bankers: Lloyds Bank, Ltd., In their market report. Messrs Foreign Exchange and Banking S. E. Levy and Company, cerres- business of every description transpondents for Messrs. Waite Weld acted.

and Company, New York, state:-

Stocks:-The relatively poor

quoted on application.

Safe Deposit Boxes (various sizes) for hire.

Cottrent Accounts opened and Fixed, Deposits received for one year ori shorter periods at rates which will be action of rail, atility and oal issues attests to the lop-sided We would business picture. "Favour the heildin up of some cash in trading accounts where exist Business opportunities- done: 1.500.000 shares-

(Continued on Page 10)

"LUOK" POONG "SHAN,

Chief Manager

SAFETY FIRST!

To Safeguard Your Valuables and Jewelleries.

*? $70,000,000.00 5.391,000,00 480,000.00

HEAD OFFICE-HONG KONG 20Des Teri Do-d Crastai.

BOARD OF DIBITORS:-- Sir Shoumon Chow. Chairman

Il Soon Chran, Esqin P. X. Kwok, Eng Wong Tus Tong, Eaq- Chan Chip Rick, Eng. 1

To Cha Null. Eg, and Kas Ying

Jo Day.

Amoy

Batavia

Ker Tone Po.. Eng Ctriet Hang07. In The Four. Emy.. Uunog.

FRANCHIES AND ACISMES:-

Mzal

Metourne

Bombay

Ski-

Galeria

Iw York

Canton

·Omsham

Haiphong

Hank Homeish Robe

Perim Prag

Kowloon - London

Samempore Seuralays

bydney

Perang

Taiboku

2015

Tienbein

Tokyo

Fracciaca

FancyTer

نمونه

Every description of Banking and Exchange

Deposit them in a Vanit

that is really.

FIRE - PROOF BURGLAR-PROOF DAMP-PROOF!

OUR SAFE DEPOSIT VAULT located on the Mezzanine Floor of Our New building is 'Specially Con- stracted to provide all of these In- portant Qualities.

You may obtain a Safe Deposit Box this most up-to-date Vault forf your own use at a very moderate Ben- tal.

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

THE

$5,000,000 LOAN ISSUE

Finance For Canton

Industrials

GUARANTEED BY PROFITS OF CEMENT WORKS

Canton. Today,- An issue by the Provincial GoT- ernment of $5,000,000 Reconstruc tion Bonds, in order to raise funds to finance industrialisation pro- ¡jects; has been approved by the

Legislative Yuan

The bonds will bear interest at the rate of 7 per cent and be secured by the profts realised by

hasizes trameted Loss sansed on app AMERICAN EXPRESS COMPANY, Saichaen Cement Works. They

CLINER

Current Account opened in Low Currenc and Fund Deposite reserved for you your or aborter period. in Inos and-Foreign Currencies

an tert. which will be quoted on application.

Bate Days Bomen To. Let

"

KAN TONG MA.

THE CHINA & SOUTH SEA BANK,

LIMITED

INC.

Head Office:65, Broadway, New York

Chick, Kaonger.

Capital Surplus Beserves

Saterdam.

A. 135 WE MAD

Librar

(Incorporated in China)

Head Office.Shanghai

Capitul

$7,500,000,00

Irla

Bombay

Reserve

$1,500,000.00

Bremen

Branches

All Important Cities Bre

Cairo

in Chita

Exchange

and

General

Banking

Fore:za

Breis resected:"

Current and Swring bocousta operied and Pind Deposits weed for one year or shorter periode

gofed on appelen.

Sot Z CHANG.

Manager.

HONG KONG BRANCH:

Manager Offer

24 Dom Yoraz Toed, Central.

Foreign Exchange Dept me

General Office

Cashier's Offer

SECAR

Cunes Columbo Copenhagen Dublin Edinburch Florence Geneva

Branches

.U.S.$6,000,000.00 2183,633.06 870,731.05

BRANCHES>—–—–

וה

Gence

Tim Harun

Barna

Hawling

Heidelber Interimien Jezieniem London Liverpool Lucerna Lazy po Laser Marcilles 35.onte Carlo

Kubile

Munich

ค

Nice

Piram Paria Pripias Palermo)

Shangha Southampton

Singapor Tienein

Twarmins

Tenice Terobars Zurich

of American Express

will be redeemed in 2 period of 5 January years beginning from 1936.

It is learned that the $5.000.000 | to be raised wit be used for ex- pansion of the sugar refineries, soda plant, sulphuric acid plant, weaving and knitting factory, fer- tiliser plant, paper factory, and drinking liquid factory, and the establishment of the Yungkong jhydro-electric power plant

The Provincial Bank has been designated as the agent to refund the bonds and pay interest-Cen- Itzal Press.

RISE IN COMMODITY

PRICES

Company in Principal cities of United After Recovery Occurs

States of America and Canada

All classes of Commercial- Banking! Transactions undertaken.

THE YOKOHAMA SPECIE BANK Personal

BLIMITED.

Established 1880

handled.

investment

accuants

Says Monetary Expert

Ithaca, NY., To-day. Addressing the annual session of the American Institute of Co The Company offers to intending operation at Cornell University Travellers the use of its "Travellers Cheques and Letters of Credit and yesterday. Mr. George Warren, Capital (full paid-up) Yen: 100,000,000 in addition, the world-wide services former chief monetary adviser to Reserve Fund Ten 125,800,000 of its thoroughly equipped Travel the Treasury, predicted a substan-

Head Office-YOKOHAMA

Branches and Agencies atr

Alexandria

Batavia

Nagasaki Nagoya

Berlin

Bombay

Osaka

Calcutta

Genton

New York

Paris Peiping

Dairen (Dalny). Bangoon Fengtien (Makden) Pio de Jentire Bamburg

San Francisco

Seattle Hankow

Semarang Shanghai Singapore Somabayz

Syds

Harbin

Eon Kong.

Honolulu

A linking Karachi Lobe

London

Los Angeles

Moj

Interest

Department

E W. DUGGAN,

Manager

tial rise in commodity prices “after the recovery Occurs.” -

Mr. Warren, however, took isspe with the prediction of Dr. Ken- nerer, that the result of devalus- tion would be the doubling of the

THE WING ON BANK present cost of living-Beuter,

LIMITED.

Head Office: Hong Kongam 26. Des Voeur Rand Central”. Authorised Capital $10,000,000, LONDON BANKEESSA - Westminster Band, Ltd Foreign Exchange and every des cription of ban

banking business transact-

Current Accounts, and Savings Ac counts opened Fired Deposits re- ceived at rates which will be quoted

Special-rates given

for Special deposits:

#Trusteeship and dertaken.

Boxes

THE

SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED

Capital paid $5,000,0

Capital Savings Dept“, Reserva Savings Dept.

SHARE MARKET

TO-DAY'S QUOTATIONS

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

Banka

FK Bank $1025 d., $1025/50 32. HK Bank (London) #111% p: Chartered Bank £13% 1 Mercantile Bank A and

$SIJA IL.

Mercantile Bank C. 313. n. Bank of East Asia #761⁄2

Insurances

Canton Ins. $203. zz. Union Ins. 370 2.

China Underwriters 40 cts. 2. China Fire Ins. $982 n. FK Fire Ins. $200 n. International Assee. Și n.

Shipping Donglases $35 n. HA Steamboats $4 n- Indo-Chinas (Pref.), $30-u. Indo-Chinas (Def), $12 n Shell (Bearer) $71/101⁄2 n- Union Waterboats $1132 D

Mining

B

Antamoks 72 cis, 2- Balatocs $18'¤. Baguio Gold 23 cts., 22. Benguet Consolidated $124. Benguet Exploration 10 cts. Bengnet Goldfield 10 cts z Big Wedge St. Gold Creek 30 cts.

Gold River 5ɛeta, ni, Ipo Mhing 50 ets. a. Itogons 36 cts. *

Kailan Mining Ad. 14/6 m. Langkats (Single) Sh. $14 n S'hai Exploration Sh. $41⁄2 n Shai Loans Sh. $54 m Raubs $7 sa. Venz: Goldfield $230 1.

Docks, etc.

RUNCIMAN REVIEWS ADVERTISEMENTS BRITISH TRADE PUBLIC AUCTION

CONTINUOUS GROWTH IN ALL DIRECTIONS GOOD EFFECT OF TARIFES AND AGREEMENTS

London, To-day.

In the House of Commons yesterday the President of the Board of Trade, Mr. Walter Runciman, made a survey of trade Fand industry, in the course of which he reviewed, the effects. of the recent trade agreements and the prospects of further industrial recovery.

He said that-British trade. figures showed year after year and month after month a continuous growth. There was still a long way to go to reach the figures of 199, but he approach ed the coming year in a spirit of restrained optimism.

AGRICULTURAL

ADJUSTMENT.

The Undersigned have received tions to sell by Fablie

Wednesday, the 24th July, 1935

mencing on 230 pm.

their Sales Room,

Thadden Street

A Quantity of d

VALUABLE HOUSEHOLD

FURNITURE:

comprising

Chesterfeld Suites Bed Room and Diting

Glass Cabinets

Furniture, and Bookcases,

Desks Fitng Calmets E. P. and Brase Ware, Glass and Porcelain Ware, Clocks 250 Ornaments, Linen, Carpets and Bugs, Fie |tures; Gramaphones and Records, The United Kingdom exports Ice Chests, Electric Fans, Screens, for the first half of this year Electric Table lamps and Shades reached

against etc., exce £189,000,000 for the first six months of last year and, taking

2006,000,000

ADMINISTRATION articles wholly or mainly manic-

Senate Compromise

On Amendment

MORE GRIEVANCES AGAINST SILVER PURCHASE ACT

factured the increase was not only marked but healthy &

The first six months of this year, he said, showed exports in this class of £160,000,000 against £145,500,000 in the same period of fast year: Very substantial in- creases had been recorded in the exports of the machinery and vehicles group, iron and steer and To work out a compromise even, in spite of the severe de the Senate has deferred action pression in Lancashire, in cotton Jon the Agricultural Adjustment yarns and manufactures.

Administration amendment out- lawing the processing tax re- covery suits. Reuter.

Washington, Today.

MANUFACTURED GOODS Among manufactured goods the most important successes, were re-

and

4 Selection of BLACKWOOD FURNITURE

alsa

One Kekor Two "GE" Meirie Refrigers- tors

One "White Frost Ice Chest. Two Pianos by "Moutrie". Three Radio Sets.· On View from. Tuesday the |23rd. July 1935.

Terms: Cash on Delivery.

LAMMERT BROS.

Anstioneers

Hong Kong, 19th July, 1935

PAYMENT

Important Ruling By US. Federal Court

A message received yesterday corded in the machinery classer, BOND COUPON GOLD stated that reversing Tuesday's covering every kind of machine. stand, the Senate soted by 441 Torning to Home trade. ir. votes to 41 to strike out the price-Runciman recalled that a year ago fixing provisions of the Agricul-he expressed the fear it was al- tural Adjustment Administration most reaching saturation point. Amendments Bill The vote was He was glad to say that he had

New York, To-day. · regarded as a setback to the Ad-been unduly depressed in making ministration forces, who insisted that statement, for the Home The Federal Court has ordered on the retention of the price-trade had gone on steadily ex- the South-west to pay the gold coupons HK and K. Wharves (new) fixing as a vital part of the bill panding throughout the whole equivalent of its bond

Anglo-Continental held by the theatre SPL 1

The final Senate vote on the en-the year.

The value of retail sales last Treuhand AG- The latter had FK and K Wharres (old) tire bill was possibly to have been

cent sought payment in guilders. year was actually 3 per taken the previous night. $771-

The case is believed to have an A message received on Wednes higher than in 1933 This expan day said that the US Circuit [sion had increased at the same important bearing on whether pay Court of Appeals at Boston, by a rate during the current year and ments on American bonds held vote of 2 to 1, had ruled that the sales in the first five months were abroad shall be made in dollars at Agricultural Adjustment Ad-very nearly 4 per cent higher the gold equivalent-Beuter ministration. processing taxes than in the corresponding period were unconstitutional the ruling of 1934

of being given in the case

Speaking of the effect of the Mills Corpora- tariff system on employment. Mr. Sh-the Hoosac

the Increased Blanket Duty declared that Bedford, which had Runciman tion, New

some stimulus given by tariffs during Causes Stock Selling been suing to $82.000 worth of cotton process-the past three years accounted to ing taxes.

H.K. and W. Docks $6% th Providents (old) 85 cts. he Providents (new) 20.cts. n Hong Kew Sh. $240 m. New Engineering Sh. $4 n. S'hai Docks Sh. $80 a.

Cotton Mills Ewo Cottons Sh. $7 n- Shanghai Cotton (old)

$65 Shanghai Cotton (new) $40 Zoong Sings Sh. $84 1. Wing On Textiles, Sh.329 n- Lands, Hotels, etc. HK and S. Hotels $390 s. H.K. Lands $33.

H.K. Lands 4% Debentures

100% Shanghai Lands Sh. $204.z. Metropolitan Lands Sh. $10 n. Humphreys $834 1. EK Realties $4 n. Chinese Estates $88 n. China Realties Sh.$4 m China Debentures Sh.5123 IL

s..

Public Utilities HK Tramways $13 a Peak Trams (old) --$754) 1. Peak Trams (new) $5% a Star Ferries $76 h Yaumati Ferries $17.60 sa C. Light $81⁄4 D H.K. Electric $58 Macao Electrics. $221⁄2 n.. Sandakan Light $3 8. Telephones (old) $21 b. Telephones (new) $8.30 n China Buses Sh. $111⁄2 1. Singapore Traction 10/6 h Singapore Pref. 22/6 b

Industrials Malabon Sugar $91⁄21⁄2 1- Cald: Macg (Ord), Sh $194,

Be

Cald: Macg. (Pref.), Sh. $13 2. Canton. Ices $1.80 n. Cements. $5 3.*. HK. Ropes $2 12

Stores, etc. Dairy Farms $16.30 sa. Watson $3.35 2. Lane, Crawford $3 Mackintosh $- Sinceres $5.80 n. Wm. Powells, 70 cts. Wing On (HK) $70 2.

Miscellaneous

H K Amusements $1.85 z Entertainments, 34. n. SC Enterprises $1.35 ni Macao "Greyhounds.” (32 n. Constractions fold) $1.10 s.

-50 cts::87:

recover

ས་ ་

-TEST CASE The case, which was chosen as la test case for the constitution lity of the AAA would be ap- pealed against by the Govern ment in the Supreme Court in the Autumn.

He hoped that it would receive more favourable consideration

RUBBER EXPORTS

Batavia. To-day.

a large extent for the prosperity of our internal trade and the

For the first half of July, 3,400 return in some directions of our tons of native rubber were ex- foreign markets as well

SUCCESS OF TARIFFS

ported, compared with the marthly

Tariffs be said, had not only quota of 7.200 tons The bulk of provided employment at Home but the export consists of blankets, on they had also provided 120,000, which increased export duty "has

been applied since July 5. 000 for the Exchequer.

The increased blanket duty has The direct effect of the Ottawa resulted in holders selling their

ex-

Everything

there than from the Senate Bank Agreements had come up to stocks. Penter. jing Committee, where similar pectations and the agreements] measures were already pending. itended to stimulate Empire trade. MCCARRAN VOICES GRIEVANCES Seventeen foreign trade agreements that had been signed and 1934 British A later message stated

increased Overseas Trade had Senator McCarran called a meet- ing of a dozen silver Senators, at about ive per cent. which he voiced

With British countries the rise against the silver policies of the had been about 12 per cent and administration and discussed gelin the case of foreign countries with which agreements had been erally the new legislation for more direct mandate. to the ad made the rise was 35 per cent- ministration to continue its silver British Wireless Service. purchases until a price of $1.29

an ounce was reached.

grievances

2

The meeting also discussed specifically the re-framing of Mr McCarran's amendments for a permissive silver purchase act and referring them to the Agri- culture Committee of the Senate, where they were assured of an immediate favourable report.

SURPLUS SPINDLES IN LANCASHIRE

Government Bill Opposed

London, To-day."

The amendments, which had

A joint meeting of the execu- been in the hands of the Banking Lives of the cardroom workers Commitee of the Senate for and operative spinners" zma weeks, would repeal the 50 Per mations at Manchester decided to cent tax on silver trading pro- fits as well as the nationalisation of silver and the right of the Secretary of the Treasury to prohibit trading in the metai:

RAW RUBBER PRICES

Latest Quotations From

Messa received

pose the bill for the scrAT 10,000,000 spindles in cashire

It is considere the Government with the bill until the AR Penter

Cl Insured?

gone BUT YOUR

SAVINGS

RENT

FOOD

CLOTHING

HEAT

W

SAVINGS

SAVE SOMETHING

START NOW

UNDERWRITERS SAVINGS BANK FOR THE FAR EAST.

life Folding

Hop Toni