1935-07-24 — Page 6

BANKS

HONG KONG AND SHANGHAI **BANKING CORPORATION

Authorised Capital

$50,000,000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

bound and Faily Paid-up 20,000,000: Incorporated by Royal Charter, 1853 Reserve Fundes

Sterling 6,500,000 silver ... 30,000,000 Reserve Liability of Pro-

prietors

HEAD OFFICE: LONDON

Paid-up Capital 20,000,000 Reserve Fund

£3,000,00J 53,000,000

Reserve Liability of Pro-

prietors

£3,000,000

Agencies and Branches:

Alor Sta

Iloilo

Amritime

Įpok

1

Kamchi

+ Babaria

HEAD OFFICE HUNG DUNG

·BOARD OF DIRECTORS,

- Dostwil Eng.

Gitman

CC night, Eng. Deputy Chirat.

TS Graburn Eng

Chief aanger

Borabay

Calencia

Canton

W. K. Bell, Esq., K. S. Morrison Esq, Caeripare AHL Compton Esq."

T. Johnson, Esq. Hoa." Mr. J. J. Paterson, G. Miskin. Exq I E. Pearce, Esq,amburg

Klang

Bangoon Saigon Bemarang "Serenaban Shanghai

ngapore Sitiaran Soursbers Taiping

Tienda

Tangkah

(Baker)

Baba

Tumpur Luckipe

Cobu

Mad

Colombo

Haiphoo

Hankow

Stabila

Kedat New York

Priping

(Peking)

- Tangtao

Yokohama

Harbin

1

RECHTLE

Zambonogs

| kramacted.

BOMBAY

MASTEA

→

CALCUTTA

MTA 1Zohore)

MUKDEN

CANTON

CHEFOO

NEW YORK

ΑΜΟΣ

BASOROK

MATANZA

COLOSIRO

DAIREX

"YOOCHOW

FAMONG

.KAMBURG

HANKOW HARBIN

HONGREW

TLOWLA

ЕРОЯ

MHORE

KORE

KUTLOOK

MANCHES

LONDON

LYONS

• HALACCA

PEIPING

PEXANG

RANGOON

SAIGON

SAN FRANCISCO

KUALA LUMPUR

SHANGHAI

SINGAPORE

SOCRABAYA

SUNGEL TÁTANT TIENTSIN

TUHETT

TSINGTAO YOZOTTAMA

"Commit_Aregunta, opened in Irved Comence

and Fixed Deposit Moted for O OF shorter petion in Loral Comacy and Sterling

an segein which will be quoted on appilation.

Hong Kong, 6th April, 1935.

HONG KONG SAVINGS BANK

The Brew of the above Duck in conduct

By the HONG KONG AND NILANGHAI BANKING CORPORATION. Koles may bu. thened on suplication.

FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.

M. GRAYBUEN

Chief Stanager..

Un us is Frbroery. I

THE BANK OF EAST ASIA, LTD.

Authorized Capita

Puidup Capital

Berve and Undaunted Profit,199,000.0

BEAD OFFICE:- BOM KONG-

10. Dens Road Central.

BOARD OF DIRECTORS:-

Show Chow, Chairman,

Li Koo Chull, Et P. Kven, Taj Tong Two Tong. End Chan Chang The Eng A Lan Sang. Fin Wong The Son. Erg, and Kas Ying

Pe. Event

Kan Tove To Ung, Chiel Maurer. If I now. Faq more.

BRANCHES AND AGENCIES :-

Calcutta

Canton Kaijisema. Hankow

St

Southe

Ammay

*K-Limmirag

Hombay

Kew York

Purin

Shanglan

Naraya

sydney

13 anot

Pr

Thou

Viestein Tekra

Ma Francisco

Kole Ko-imon Laudon

Vancouver Jokohama

Luary difcription of Beaking the Exchweige

THE CHINA MAIL WEDNESDAY, JULY 24, 1935

Commerce and

Finance

LOCAL DOLLAR STEADY

Silver Prices Firm

The local dollar is steady, open- ing on demand this morning at 12/14.

Spot and forward silver prices were also steady at 30-3/16 andj 30-5/16, respectively.

The London on New York cross- rate was uncharged at £--US$4- 96%, while the New York on Lon- don cross-rate was also unchang-

Foreign Excontigs and Greases) Buzzing "busmered at £—US$4964-

Correa Account opened and Fond Depow severed for new year or shorter perioda uz zwan which will be quoted on saplicataen.

A. BREARLEY,

Manager.

Hong Kong, 1st January, 1935.

THE BANK OF CANTON, LTD.

Established 1912.

Head Ofice-Hong Kong. -

Authorised Capital.

Paid-up Capital

Total Resources.

EXCHANGES

TO-DAY'S QUOTATION

On London-

On T.T. and demand

4 months sight

On Shanghai-

2/1 2/1%

Credits & months' sight.. 2/24.

On demand $11,000,000

8,655,060 On Singapore--- 32,170,492 On demand

Branches: Canton. Toishan, Shanghai | On Japan—'

Bankow, Bangkok & San Francisco.

London Bankers: Lloyds Bank, Ltd

Foreign Exchange and Banking On India business of every description trans- scted.

Current Accounts opened and Fired Deposits received for one year or shorter periods at rates which will be quoted on application.

1 Safe Deposit Boxes (various sizes)

for hire

LOOK

ONG SEAN,

LOCAL SHARES

TO-DAY'S QUOTATIONS

A.A.A. AMENDMENT

BILL PASSED BY

SENATE IN U.S. Extensive Changes Incorporated

MEASURE TO GO TO CONFERENCE

NEW YORK STOCK MARKET Buying On Weakness

Advised

WHEAT CROP SITUATION

· HEALTHY

NEW ADVERTISEMENTS

NOTICE

UHE Undersigned hereby gives

T Notice that he will not be

responsible for any debts or liabi- lities whatsoever incurred by his wife, Mrs. P. O'NEILL, and that In their market rebort, Messrs she has no authority to pledge SE Levy and Company, corres his credit or to act as his agent. Washington, To-day. pondents for Messrs. White Weld

P. J. O'NEILL. After a fortnight of furious and Company, New York, state-

24th July, 1935 . debate the Senate. by a vote of

"Stocks: We do not believe that 65 to 15. finally passed the Agricultural: Adjustment Ad-the late irregularity witnessed to- H.K. Bank (London) £109ministration Amendments Bill day will develop into a major res

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

Banka

FK Bank $1050 b.

ez dr. Chartered Bank 35 Mercantile Bank A. and

$313 X

Mercantile Bank C £13. Bank of East Asia $7514 n.

:

Insurances

Canton Ins. $203 n." Union Ins $970 1.

China Underwriters 10 cts. I. China Fire Ins. $992 ». HK Fire Ins. $200 m

- International Assee. $4 T

Shipping

Douglases $36 »

H.K. Steamboats, & - Indo-Chinas (Pref.), $30 1. Indo-Chines (Def), $12 m2 Shell (Bearer) $71/3 n. Union Waterboats $111⁄4 0.

Mining

Antamoks 71 eta. m.

Balatoes $18 ».

carrying a limited ban against tion. We would advise baring on suits to recover processing taxes weakness. Business done: 1730.- Band a provision intended to 1000 shares.

validate the existing crup con-i

Baguio Gold 22 cts. sa Benguet Consolidated $121 1 Benguet Exploration 12 eta 11: Benguet Goldfield 10 cts n. Big Wedge 8 cts. 2- Gold Creek 30 ets. n.

Gold River 5 cts. -

+)

NO DEPRECIATION OF LIRA

"TEMPORARY”

"Wheat: The decline in MinneaŁAW. SUSPENSION trol contracts, while the propolis was a local affair. The crop posed price-fixing provisions situation is considered as healing and we would purchase оп Any were eliminated.

Total sales: view to major setbacks. Introduced with, a broadening the powers of the farm Wheat: $1,297,000 bushels. Corn: administration and to protect it 5137,000 bushels

(Continued on Page 7)

Do

against the mounting court. at- tacks, the bill was changed in Way many respects and in granted the, sweeping powers re- quested by Mr. Henry A. Wallace, Secretary for Agriculture, thas constituting a compromise necesaï- tated by the increasingly critical attitude of the Senate toyards all measures of which the constitu- tionality is doubtful in the light of the recent court decision.

Critics of the Administration's foreign trade policy vainly tried to curtail the President's tariff bar gaining powers by offering a re trictive rider, which, however, was twmed down.

NEW YORK STOCK EXCHANGE

Latest Quotations

July 24.

GOLD RESERVE TO BE REPLACED SHORTLY

Rome, To-day. Official circles explain that the temporary suspension of the law | concerning the gold coverage does not mean the depreciation of the lirs The Italian Government intends replacing the gold reserve as soon as possible.

The controlling board of the Institute for Foreign Credit and

The following quotations were re-the Bureau for Commercial Ex- ceived by Reuters

-

Last close

10.20

changes will. it is stated, through

a quota system permit the Gov- 11.00ernment promptly to defend the

Bira if it is attacked-Reuter

London 496 496% 4.95 NY. Cotton

Ocia

May NY. "Pabber

Doc

C. Wheat

Sept Dee..

11.51 11.48 ILSI 11.36 17.99 1133

12.24: 12.188 12.23

#54

86

The bill will now go to confer- ence with the House of Represen- tatives with a view to adjusting the {differences with the House ver. Com Sep. 74%

Doe. sion-Renter.

134

90%

On demand

1784

On T.T. and demand

1394

On New York-

On demand

52

Credits 60 days” sight

5434

On Batavi

|

On demand

76%

On Paris

Chief Manager

'On demand

T&The

Ipo Mining 90 ets. n. ~

75%

Crédits 4 months' sight

83214

Itogons 36 cis-n

62%

On Saigon

Salacots 12 cts. .

STOCKS:

On demand

7814

Amer Smelting 42%

Con Gas M.Y. 24%

247%

On Manila-

104年

S'hai Exploration Sh. $44 12 Shai Loans Sh. $5 -

OF GUILDER

Elec Bond &

Share

好

*

8

8

General Motors 37%

88%

Ranbe $727b,

Int Tel & Tel 9%

4144

*414

30 30% 30%

18 - 1834

18

Standard OI

NJ

48

46

46

47

41

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 Our New buildings Specially Con structed to provide all of these In portant Qualities.

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

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

THE

for transacted. Inson sused on approved AMERICAN EXPRESS COMPANY,

wszorítima,

Carrens ecoute opened in Lowen't. Cuppatung and Fred Deposit resend for are year of wheter periods in Local and Forsign Curvades

on treten which will be quoted: “on applicatio

Sale Deponit Doser To Lele

KAN TONG PO.

INC.

Head Office:-65, Broadway,

New York

Chief Menget.

**

Capital

Sampins Reserves

THE CHINA & SOUTH SEA BANK,

LIMITED

[Incorporated in China)

Head Office ...Shanghai

Branches ...All Important Cities.

Capital

Reserve

$7,500,000.00

$1,500,000.00

in China

Toreign

Exchange and

General

Banibena sanaarted.

.U.S.$6,000,000.00

Harana Huwburg

2,183,633.06

870,731.05

Miles

Kaplos

Pariz

Priping Palermo Botterda Bom Shanghai Southampton

BRANCHES:-

Amadam Antwerp.

Cremon Grinagar

Athem

The Harue

Amand

Berlin

Bombay Bremness. Brussels

Banking

Cairo Calcutta Cannes Coinbo

inspare

Tintain

Copenhagen

Torti

Marseilles

Vienos

Edinburgh Florence GENOTE

Monte Cacho

Tenics

Manila

Morich

Tokubaus Zurich

"SOU Z CHANG,

Manager:

HONG KONG BRANCH:

Current and Saving Accounts opened and Fixed Deponita promised for one year or shorter perioda ↑ Buildin at rates which will be qued on application

2. Des Toruz Boed, Central,

Manager's Of

Foreign Exchange Dept Cars,

General Son

Cashier's Office

23366

Heidelberst Interlakens kerlem Londine L'erpool Laser Labo

Montreux

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

All classes of Commercial Banking Transactions undertaken.

THE YOKOHAMA SPECIE BANK Personsi investment

LIMITED.

Established 1880-

bandled

On demand

On Bangkok-

Sovereigas bank buying rate 2/2

On demand

Bar silver per ***

Bar silver in Hong Kong Copper cash Capper cents

Rate of native interest Chinese Sub Coin Hong Kong sub. coin

30-3/16

Dom

nom. par.

324

3% pa dis.

par.

BRITISH TREASURY RETURNS

Slight Decrease In Revenue

London, To-day.

show that

Exchequer returns

the total ordinary revenue date, including self-balancing £168,713,456, items, amounts to compared with £170,439,034 the corresponding date of

years

• Total ordinary expenditure, exclusive of self-balancing items. is £225,746,765, against · £218- 498,733 at the corresponding date of 1934-British Wireless Ser- vice.

+}

Kailan-Mining Ad. 14/- n.

Langkats (Single) Sh $14 DEVALUATION

Venz: Goldfeld $2.30 .

Docks, etc.

H.K. and K. Wharves (old)

$76 b.

HF and K. Wharves (new) ** $741⁄2 1.

INEVITABLE Loew's Inc

(Continued from Page 1)

Montgomery

Ward

INT. Central

A divergence of views was ex- pressed by succeeding speakers US Steel Reuter.

SUPPORT WITHDRAWN

•

A later message states that the

40%

*6

***

56_

state of the Government became COMMODITY PRICES

doubtful when Dr. Aalberse, leader!

HK. and W. Docios $620. Providents. (old) -85 cts. n. Providents (new) 20 cts. n- Hong Kew Sh. $240 m... New Engineering Sh. $ n-

The following quotations have of the Catholics, announced in the S'hai Docks Sh. $50 n Cotton Mills..

Chamber that the Catholics were been received by Reater

Prev. Yesterday Ewo Cottons Sh. # #-

usable to support a motion of con-

Closing Closing Shanghai Cotton

Spfidence in the Cabinet's-economic (old)

policy.

-$65 1.

*

Wing.On Textiles Sh.$25 s.

100% Shanghai Lands Sh. $201⁄2 ti Metropolitan Lands Sh. $10 a Humphreys $8.10 2. - HK. Realties $4. Chinese Estates $88 China Realties Sh.$4 m China Debentures Sh.$123. n.

Public Utilities

A later message states that Spot there were-tense scenes

11.76 1191 1151 1136

in the New York Rubber:- Chamber following the refusal of July the leaders of the Catholic and September December Socialist Parties to support a me--

tion of confidence in the Govern January

March

ment

The Premier, Dr. Colijn, declined to permit an adjournment Chicago Wheat:- of the discussion, which was agreed July

11.25

11.25

REACTION IN BERLIN

**** CHINA MAIL" SPECIAL

Berlin, To-day. The ra, though quoted else- where very much lower than on Monday, was unchanged yester- day in the Berlin derinen market at 20. Reichsmarks to 100 lira. which

however. is quotation, rather of a nominal character Italian banknotes, however, de- elined from 19.90 to 19 Reichs- marks to 100 lira

This weakening of the lira

seems more pronounced in view of the tact

currencies that other

the Dutch guilder were fer, improving from 168.10 to 16820, the dollar 2479 to 2485, and the pound from 12305 to 1233.

OFFICIAL STATEMENT

A message from Rome states that to remove the misconceptions which have arisen concerning the suspension on Monday of the statutory 40 per cent gold cover behind the lira. an official state- ment issued yesterday deciares':

"The measures taken yesterday concerning the gold cover of the lire do not effect its cuITERCY value. As soon as possible the Italian Government will restore the 40 per cent. gold cover.

"The measures just taken were necessitated by several urgent foreign payments aggregating 500,000.000 lira "To meet its obligations promptly the Italian Government altered the law cop- cerning the gold cover. Through ́ this measure the Government will be able to discharge all obliga- tions, past, present and future.

"Through the supervision of the Currency Institute and the Office for Trade Quotas steps can

taken

lira to protect the gainst possible attacks.

Shanghai Cotton (new) $40 Zoong Singa Sh. $335 1

n

to

Lands, Hotels, etc. HR and S. Hotels $3.90 n. HK. Lands $31 82. RK Lands

New York Cotton:- The Catholics, who hold 28-votes July out of the Chamber's 100, have October hitherto supported the Government December and are represented in the Cabinet January (1936) by the Ministers of Justice, De-March fence and Economic Affairs. -

11.35

11.33

11.30

171.26

¡May

11.29

11.24

4% Debentures

12.25

12.10

11.91b 11.91

last

12.01

11.99b

12:24

12.21

12.31

12.28

1247

72.41

84%

23/

to, and a special meeting of the September Cabinet was summoned for MOITUW Morning.

85%

-8474

December

8T

$68

Chicago Corn:-

83%

842

+74%

75%

be

62%

627%

Winnipeg Wheat:~~~

July. August

BRISK BUYING IN EVIDENCE

80% 81 81 No.1 Na3 No. 1 No.

Con. Con Con. Con New York Sugar:---- July Sept

81%

¡Dec.

THE MERCANTILE BANK OF INDIA, LTD.

HEAD OFFICE -

Gencechurch Street. London, ECS. Authorised. Capital £3,000,DOG Subscribed Capital .... 1,800,000 1,050,000 Paid-up Capita! Reserve Fund & Best.. 1,247,432 BANKERS ? The Bank of England & Midland-Dank, Lil BRANCHIES: Ipoh

Sew York Kandy

Part ~ (Mmarition)

Thame Shanghai Assuti 17ahang) Sizla Madras

Singapore

accounts Bangkok

Calcutta

Bo

Kata Bbary Kasis Zipa

The Company offers to intending Colombo

| Delhi Travellers the use of its "Travellezz Cheques” and Letters of Credit and, Hong Kong Capital (fall paid-up) Yen:100,000,000 i addition, the world-wide services How Leserve Fund. Yen 125,800,000 of its thoroughly equipped Travel |

Department.

-Head Offer:—YOKOHAMA

Brancher and Agencies at Alexandria

Nagasaki.

Nagoya

New York

Batavia

Berlin

Bombay

Osaka

Calentte

Paris

Canton

Peiping Rangoon

Dairen (Dalny)

Fengtien (Mukden) Rio de Jeseiro

Hamburg

· Hankoo

*Harbin

Hong Kong

Honolulu

Hsinking Karachi

Kobe

London

Los Angeles Manila

San Francisco

Seattle Semarang Shanghai

Singapore

Sourabaya

Sydney Tientsin

Tokyo

Interest allowed for Current

EW. DUGGAN,

Manager-

THE WING ON BANK

LIITTED

Head Office: Hong Kong 76. Des: Voerr Road Central. Authorised Capital $10,000,000 LONDON, BANKERSƏ Westminster Band, Ltd Foreign Exchange and every das- jcription of banking business transact-

so!

Current Accounts and SJANSEN

counts opeated Fixed Deposits re crived at rates which will be quoted Biven on uplication Special Crater Afor Special deposits,

Deposits received for fixed at rates to be obtained

Gods!

Hour Kong, 13h

Trusteeshin, and. Excentorship an

Deposit Boxes

dertaken. Sate

hive:

PHILIP GOCKCHIN

Chief, Manager

ALI SHU KONG}

Kaala Tamper

HONG KONG BRANCH Every dowciption of Banking and Exchange) businows teamssted.

Travellers Choquos Jesued.

Trustee and Executorships ander taken

INTEREST: slowed on Current, bocounder mad Fixed Deposite of Estes that may be ascertained o application

·K. TEXNEDY,

7 Quen's Bod Central

Hong Kong, 1st April, 1835.

THE

Manager.

SHANGHAI COMMERCIAL & SAVINGS BANK LILATED

(Incorporated in China)

Capital paid

$5,000,000 000 Capit

Dept: $50 ings Dept. 3800,000.

"the industrial development on

China zed the fostering, of commercial relations abro "Hong Kong Office

7, Joe House St

Phone: 31,481-2-3.

HK. Tramways' $12.55 n. Peak Trams (old) $7 Peak Trams (new) $53⁄4% D Star Ferries $76. b. - Yaumati Ferries $17.60 m C. Light $8.60 b. ELK. Electric $57 b. Macao Electrica Sud T. Sandal LightTM $3 a. f Telephones (old) $ZI & Telephones (new) $8.30 m. China Buses Sh. $111⁄2 n. Singapore Traction 10/6 b. Singapore Pref. 22/6 b.

Industrials

Malabon Sugar 1815 a.

Cald: Macg, (Ofd), Sh.. $191⁄2

to-

It is expected that the Cabinet Joly .. will then either resign or ask for September the dissolution of the House Rentez.

BERLIN STOCK MARKET

December

"The foreign payments that the italian Government has to make concern materials bought abroad.” -Trans-Ocean Service.

LIRA BALLTES London, to-day-The lira, which -2.23 2237-227n 2.25n

2.22 2.26 2.32 2.28 depreciated to 65% following the 2.34 2.20 2.35 2.23 news of the Italian Government's Jan., 1936 2.10n 198 210 202 decree regarding- note, cover," later

1.99 Maz ~CHINA MAIL" SPECIAL

Berlin, To-day. ¡New York Stik:- Although Italy's suspension of July

Cald: Macg. (Pref:). Sh. $13 n.the 40 per cent, Hira gold cover and September

Canton Ices $1.80 1.

Cements $5,5

HK. Ropes $2 m2

Stores, etc.

Dairy Farms $15.80 m.) Watson $3.35

Lane, Crawford $3 Mackintosh SI ILG. Sinceres $4.95 B

Wm. Powells, 40°cta n2: Wing On (HK) 355 2.

MiscellaneoMS |

HK. Amusements $1.35 a. Entertainments $4 1.

S. C. Enterprises $185); Macao "Greyhounds. $2. Constructions" (old) $11 Constructions: (new)#50 Vibro Piling A Ch. Govt 85% 1925 G#Bds.---

203 rallied and closed at 61-11/16

On the metal market the cash price of tin was down to £233 per ton after Monday's sudden rise to £245. Questions are to be asked

141

1392

14135

139

the consequent drop of the lira December quotation on all the foreign Montreal Silver:- Bourses gave rise to considerable July L AS discussion in the Bourse bere yes September terday, the event in Italy had ap-December parently no influence on prices, which gradually stiffened;

1.42

1:40

.68.10

68.40

68.25

66.50

69.25

share January

69

in, the House of Commons to-day regarding Monday's events and what action the Government-pro- 69.50

Iposes to take through the repre- 9.25 69.651 sentations on the international in

control committee British Wi-

both the public and operators buy-RAW RUBBER PRICES Jess Servion

ing briskly. Metallurgicals were especially firm

Fixed interest securities were Latest Quotations From friendlier in tone, gold mortgage bonds being in demand, but the turnover was not

Call money, wWES 212 to 2% per cent. Trans-Ocean Service.

REICHSHARK QUOTATIONS

Berlin, quotations

HK Govt. 4% Loan 61⁄44% prem., are:

OvL 129% Loan: 132%) den,

HK

prem

Wallace Harper $4 11

hamark

Singapore

Messrs. H. B. Joseph & Co. have received the following Straits Cur- rency quotations from Singapore for Raw Rubber b

Spot 19% down 14, 1954 L

September 19% down

without

193

and Lon-

Folar,

ber 19% down

(1986)

205

Is It Insured?