1935-08-16 — Page 6

BA

HONG KONG AND SHANGHAI -BANKING CORPORATION

Authorised Capital Issued and Fully Paid-up

Reserve Funds.

Sterling

£6,500,000

Silver 40,000,000 Reserve Liability of Pro-

prietors

THE CHARTERED BANK OF INDIA, AUSTRALIA" & CHINA.

$50,000,000

20,000,000 Incorporated by Royal Charter, 1853

HEAD-OFFICE: LONDON

Rangoon Saigon Semarang

20,000,000 Reserve Fund

Paid-up Capital·

$3,000,003; $3,000,000

HEAD OFFICE HONG KONG.

Reserve Liability of Pro-

prietors

£3,000,000

Agencies and Branches

Alor Star

Daile

Ipak

Bangkok

Batavia

Bombay

Kodw

Calour Canton.

Compton Esq.

Cabe

Lompat Xoching" Madr

Wo!

Colombe

Medna

Tonglab

New York.

Paiping

Tsingtao

(Pelong) Prane

Tokobama

„Zamboanga

V.

BOARD OF DIRECTORS."

Dodwell Esq.

Chairman,

Isight. Ing.

Deputy Chairman.

Grybari Zog-

W. H. Bell, Esq. S. Morrison E39, Carp

MT Johnson, Edge D Hon. Mr. J. J. Paterson,

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

A

ANOT

BANGIOT

BATAVIA

BOMBAY

CALCOTTA

CANTON CHE-POO COLOMBO

DAMES POOCIOE HAIPHONG

HAVARG

WANDOW

HAN..

WONGREW

ILOILO..

ΤΡΟΦΙ

JOHORE

FOBE

KOWLOOX

BRANCHES:-

LONDON

LYONS

MALACCA

MANIZA

MUAR (Jobore)

YURDES

NEW YORK

PEIPING

PENANG

RANGOON

RAIGON

SAS. FRANCISCO-

KUALA LUMPE

SHANGHAI

SINGAPORE

SOUTRA BATA

SUNIET PATANT

TIENTSIN

TOKYO

TSINGTAO TOXOHANA

Cement Armenta oproed in Low: Carry and Fixed Dmpraite inverted Sum one year or shorter penors in Loral Carmary, and Sterling on term, which will be quoted in apsireatios.

Hong Kong. 6th April, 1935.

Rayhong

Hankow

Harbis

Bang King

Shanghai Singapore Ritig was.. Surabaya. Taiping

(Broker)

Tordige Exchange and General Banking business

trapearted.

THE CHINA MAIL, FRIDAY, AUGUST. 18, 1935

Commerce and Finance

› LOCAL DOLLAR

STEADY

Silver Prices Fall

The local dollar is steady, opening on demand this morning

1/1

Silver prices, however, fell "spot" dropping 3/16 to 29 and "forward" to 28-15/16.

-The London on New York cross- rate was unchanged at US $4.98%, while the New York on -was- SUS London cross-rate

Comment Arenante opened and Fixed Deposit $4.98, as compared with S-US received for one year or shorter vaciods at "imas 24.98- which wất he quoted on suplication.

A. BREARLEY,

Manager.

Hong Kong, 1st January, 1995.

THE BANK OF CANTON, LTD.

Established 1912.

Head Office: Hong Kong.

Authorised Capital... $21,000,000) Paid-up Capital

· 8,655,000 Total Resources

32,170,492 Branches: Canton, Toishan, Shanghai Hankow, Bangkok & San Francisco. London Bankers: Lloyds Bank, Ltd,

Foreign Exchange and Banking business of every description 'trans- acted.

Current Accounts opened and Fixed

HONG KONG SAVINGS BANK" Deposits received for one year or

The Bussures of the abow Baskin conduct

ed by the HONG KONG AND SHANGHAI

BANKING CORPORATION. Rake young be obtained on application.

FOR THE HONG KONG AND SHANGHAI BANTING CORPORATION

F. M. GRAYETEN.

„Com? Massager.

Bong Kong, 3th February, 1994.

shorter periods at rates which will be cnoted on application.

Safe Deposit Boxes (various sizes)

for hire.

LOOK POONG SHAN.

Chief Manager

EXCHANGES

TO-DAY'S QUOTATION

On London-

On Shanghai—–

On Singapore- On demand On Japan

LOCAL SHARES

TO-DAY'S QUOTATIONS

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

Banks

"

H.K. Bank $1075 m.

HK. Bank (London) 51114 Chartered Bank £134

GERMANY'S

EXPORTS ARE

INCREASING

Marked Improvement Last Month

GREAT INDUSTRIAL ACTIVITY.

NEW YORK STOCK FOREIGN

MARKET

Market Somewhat

Irregular

MODERATE VOLUME OF PROFIT-TAKING:

In their market report, Messrs. S. E. Levy and Company, corren pondents for Messrs White Weld and Company, New York, state: New York August 15.

TRADE POLICYKE

IN HOLLAND

Fundamental Change Foreshadowed

CONTINGENT SYSTEM MAY BE ABOLISHED

· CHINA, MAIL ** SPECIALS

The Hague, To-day- A fundamental change in the

» CHINA MAIL: “ SPECIAL-

Berlin To-day- A substantial export surplus of

"Stocks: The market was irre Dutch foreign trade policy is 28,000,000 marks is revealed by the foreign trade returns for the gular. Profit-talding to-day was in foreshadowed in political circles month of July, the most gratify-moderate volume. We see no rea- here where it is said that the duce the Government to accede Mercantile Bank Aanding feature being an increase both son to change our recent bullish Catholic Party will shortly in- to their demand for the partial, if not total, abolition of the con- tingent system and the substi tution of protective tariffs for it

$29 1

Mercantile C £121⁄2 Bank of East Asia $761⁄21⁄2 n

Insurances

Carton Ins. $185 d. -Union. Ins. 3380 n

China Underwriters 10 ct. 3. China Fire Ins. $382 HK Fire Ins. $180 n. International Assce. Și 11.

Shipping

Douglases $36 D

HK. Steamboats $4 Indo Chivas (Pref.), $30 m.. Indo-Chinas (Def), $12 n. Shell (Bearer) 75/PhD. Union Waterboats $111⁄4 n

Mining

Benguet Consolidated $12.10 Benguet Exploration 12 ets. Dr. Benguet Goldfield 10 cts n.

in imports and exports, the "in-{advices. |provement of the latter, however: 000 shares.

being

proportionately greater than for the former."-

Business done:-1,580,-

(Continued on Page 10)

- Latest Quotations In June 1935. the imports and

The following quotations were. exports balanced exactly; July received by Renters

1934 showed an excess of imports

N.Y. Cotton Oct.

The inadequacy of the contin- gent system is known to be scknow. Prev. To-days ledged in official quarters, and it

close close. over exports of 12,000,000 marks-

has proved to be an increasingly The imports in July 1995 amount-NY/London

4.9844.98% unpopular. measure among birge led to 368,000,000. The increase of

1114 1131 sections of business men. The imports in July 1935, compared. Rubber Sept. 11.37 12.02 wool, pottery and paper industries with June 1935, was 40 per cent Chicago Wheat Sept 86% 875 the chief among those calling whereas the increase in exports in Chicago Corn Sept. 15

[for protective tariffs, for which zn the same period shows an advance Montreal Silver Dec. 65.500 £5.60 65% 63% Silver, Official

intensive propaganda is being made of 129 per cent.

Dow Jones Averager in the industrial centres of TH A very satisfactory feature in

30 Industrials 128:27 12747 80 of barg, Breda and Hertogenbosch. stuffs the imports is that raw

20 Rails

36.49 $5.95 :53 of " 27.29 26.89 40 off cleared increased from 2032 mil 20 Utilities.

96.66 96.49 IT OF lion marks in June to 212.6 mil- 40 Bonds... lions in July 1935, indicating a 11 Commodity

Index

53.12 53.47 35 up growing intensification of in-

Business Done:-1,580,000 shares. dustrial activity. — Trans-Ocean Service.

THOMAS DENOUNCES U.S. SILVER POLICY.

(Continued from Page 1)

COMMODITY PRICES

The following quotations have

been received by Reater.

Prev. Yesterday Closing Closing

New York Cotten:—~ October

11.14 1131 11.00 11.15

Mr. Thomas asserted that the December Government was trying to buy January (1936) 10.96 silver as cheaply as possible, in-March stead of pushing up the price with May

On T.T. and demand

1/11

4 months' sight

1/11

Credits 4 months' sight.. 2/24

On demand

133

Antamoks 791⁄2 cts: sa. Balatocs $18

$4

Baguio Gold $24% cts. n.

On demand

165

On India—

On T.T. and demand

129%

Big Wedge 8 cts.

On New York-~~~

#

Gold Creek 30 cts. .

On demand

*4834

Gold River 6 cts.

Credits 60 days' sight

50%

Ipo Mining 614/7 cts. 52.

On Batavia-

Itogons 36 cts. n.

THE

On demand

713

Salacots 12 cts.n.

AMERICAN EXPRESS COMPANY On Paris-

Kalan Mining Ad. 13/6 n

On demand

735

INC.

Langkats (Single) St. $14 1′′

Head Office: 65. Broadway, New York

Credits 4 months' sight On Saigon

780

S'hai Exploration Sh.$41⁄2

"

S'hai Loans Sh $51⁄4 2.

On demand

732

Raubs $7. b.

the ultimate

On Manila-

Vent; Goldfield $2.30 n.

monetisation.

Authorised Capital:

$28,000,000,00

Paid-up Capital

50,000.00

Capital Surplus Reserves

9T

Docks, etc.

(old)

BRANCHES:

Amesendam

Genoa

ANDRETT

Man Sire

29 3/16

Athena

Bar silver in Hong Kong

110m

Tyreen Paris Prising" Palermo Potterda Base Shanghai Southampton

Copper cents

nom. par

Rate of native interest

3% pa

Chinese Sub. Coin

33% dis

Luc-me

·LENDO Lizzor Maraming

Minga pere

Hong Kong sub, coiz

par.

Taatria

Monte Carlo

Manila

Tris Yoke bazam Zurich

THE BANK OF EAST ASIA, LTD.

Zerre and Codinded Pufe $2,680.000,00

EEAD OFFICE:-HONG KONG

10, Drs Trux Boutsta

BOARD OF DIRECT:

Sir Sbourada Cbow, Chai, na

Choo Chun. Esq... P. E. Knok. Ing. Tong

•Yun Inne. Bog. Chan Ching. Eng., Li Lan HADR. Eaq... Fong Chu Son 1+q, and Esa Ting Po. Enq

・Two Tone Pa "Emo.. · Chw? Manager.

The Fone. Eng. c.

BRANCHES AND AGENOVES :-

Manica

Arnar

Bateria

SPIDE

Babay

Sayansi

hangha

Calcutta

New York

Caetan

Chadem

Para

Singapore Surabaya Sandow

Sydney

Tabuku

Tincais

Take

Haiphons Funkom

FloseluiaTM) Kobe FARM UNICHES London

F

Penang

Dan Francisc

TANGOTET Jakobaza

By dreeription of Beaking and Exchange busibres tramarind. Lower greated copproved

securities,

Current Arcounte oproed is Local Cymory and Pized Depiste received for com shorter periods in Loca and Foreign Currences en term which will be coated on applicatio

Bad Deposit Firmen To Les

KAN TONG PO

Chief Manager.

Barim Berlin Bombay BEREDES Hebescia Cairo Calmstra Canora ...Catienten

Copenhagen Dublin Pinburgh 1 Geget

„U.S.$6,030,000.00 2,182,633.06

langoe The Hague

Here Barbar Harre Teideiberg

Implem.. Juvedom

Wenirh

Xootreux

870.731.05

Tacwios

Branches of American Express

On demand

On Bangkok-

On demand

3+1-6

Sovereigns bank buying rate 2/-3

Bar silver per oz.

Copper cash

HK and K. Wharves

$78 HK and K Wharves (new)

$7472

HK and W. Dock $7 b Providents fold) 65 ets. n « Providents (new) 20 cts. n. Hong Kew Sh. $240 L New Engineering Sh. $4 n.. Shanghai Docks Sh.$78 n.

Cotton Mills

Ewo Cottons Sh. $.n

objective of its July

"I thought we had Spot

a silver policy, but we haren't,New York Rubber:- other than to buy silver as cheap- September kr as possible. In that case we December have made a terrible mistake. by January enacting the programme, because March we could have bought silver for May 125 or 30 cents an ounce.

11.10

10-90

10.99 10.88 10.95 10.84 10.86

11.55 11.70

11.97

12.02

12.17

12.22

12.24 12.29

12:38

1246.

12.52

12.60

Chicago Wheat:-

September

$64

ST

December

887

8914

May

90%

91%

Chicago Com?— September

75%

7T

56%

577

as comes

May

572

57

Winnipeg Wheat:-- August

82

8258

HUGE LOSSES FORESEEN "Unless the Government plans

to make silver into real primary

money, the whole programme is: December

2 colossal farce, and as soon

RAW RUBBER PRICES Shanghai Cotton (old) Sh-the next Administration

Company in Principal cities of United Latest Quotations From

States of America and Canada

All classes of Commercial Banking Transactions undertaken.

Personal

handled.

investment

acconats

Singapore

Messrs.-H. B. Joseph & Co. have received the following Straits Cur- [rency quotations from. Sinisapore

The Company offers to intending for Raw Rubber:-- Travellers, the use of its “Travellers Cheques" and Letters of Credit and in addition, the world-wide service of its thoroughly equipped Travell

THE CHINA & SOUTH SEA BANK Department

LIMITED

(Incorporated in China)

Head Office

Capitai

Reserve

Branches

Fertigo.

Exchange

Shanghai

$7,500,000.00

.$1,500.000.00

All Important Cities in China

Comprral

and

Banking

Benizens trouvent.

Current awing becouse opend and Fland) Deponit ved for coe your sumber periode at rate which will be quoted on application.

SOU Z. CHANG..

BONG KONG BRANCH:

36. Dew Toux Road, Central.

Foreign Exrbaner Imps.

Hanager's Offer

General OS túrm

Cashier's Office.

Xanager.

Tel. 23505 33966

SOR

E. W. DUGGAN.

THE WING ON BANK LIMITED.

Head Office: Hong Kong ...... 26. Des Voeux Road Central. Authorised Capital $10,000,000 LONDON BANKERS:- Westminster Band. Ltd. Foreign Exchange and every des- cription of banking business transact-

ed.

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

for Special deposits..

THE YOKOHAMA SPECIE BANK dertaken.

LIMITED.

Established 1880

Capital (fall paid-up) Yen 100,000,000

Yen. 125:200,000| Leserve Fund

Head Office~TOKOHAMA

Branches and Agencies at:

Nagasaki

Alexandria

Batavia

Berlin

Bombay

Calcutta..

Canton

Dairen (Day); Feng-tien (Mukden)

Hamburg Hankow Harbin Hoà Kong

Honolulu Hsinking

Kachi

Kobe B

· London

Los Angeles

6 Manila, 20

MojL

Nagoya

New York

Osaka Paris - Peiping Rangoon Rio de Janeiro San Francisco

Seattle

Semarang anzhei

apore.

Interest showed for

Deposits received

at zatas to be

hire..

Spot 1934 up by 19% October-December 20% up 11⁄2 b

•+20% S. January-March (1936) 21 up.

.b., 214 s. April-June (1936) 21% up b

22% S. Market: Uncertain.

MILK MARKETING SCHEME

Producers Poll

Closed

London, To-day.

COD-

on application. Special rates given A poll of 160,000 milk pro

ducers, which has been proceed- Trusteeship and Executorship

Safe Deposit Boxes for ing on the question of the

tinnance of the milk marketing PHILIP GOCKCHIN.

scheme, closed yesterday and it is Chief Manager L. GOCKCHIN I SHU FONG expected that the result will be Asst Manager known early next week. It is generally anticipated that the vot- ing will show a considerable ma- jority in favour of continuation.

Asst. Manager

THE

SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED

(Incorporated in China)

$5,000,000, Capital paid up.

$7,300,000, Reserves Capital Savings Dept. $500,000. "Reserve Savings Dept. $600,000.

Head-Office Stanghei

A Bank having as its mission the industrial " development - or -China and the fostering af ber commercial relations; abroad; › Hong Kong Office....

7, Ice House St. Phone 31481-2-3′′

REICHSMARK QUOTATIONS

Berlin, to

ark quo

are:

When the ballot on the draft marketing scheme was taken in 1933 the majority in favour was British Wireless 96 per cent Service.

Is It Insured?.

Insuranceum All Clannen- LOWEST RATES American Asiatic Underw Fed. Inc. USA. General Agents, ¿

Head Office

The Bund

Tel:20236

$55 ..

Shanghai Cotton (new) $40 Zoong Sings Sh. $811⁄2 n. Wing On Textiles Sh. $25. n. Lands, Hotels, etc.

the whole thing will be scuttled. We build up false hopes in the minds of the silver States, which New York Sugar:— fare doomed to suffer tremendous

loss when the Administration HK and S. Hotels 331⁄2 b. 371⁄2 changes-"

Sept. Deci

Sa

HK Lands $281⁄2 b.

Lands 4% Debentures 100% n Shanghai Lands, Sh. $2014 n Metropolitan Lands Sh. $10 n. Humphreys $74 b. and sa HIK. Realties $4. n. Chinese Estates: $88 . China Realties Sh$47. China Debentures Sh$123

Public Utilities

H.K. Tramways $121⁄4 sa. Peak Trams (018) $7 Peak Trams (new) 35% D. Star Ferries $77/2 b. Yaumati Ferries $17:60 m. C. Light $8.45 1 H.K. Electric 859 b., $59 3. Macao Electrics $221⁄4 z Sandakan Light $3 a. Telephones (old) $20.35 sa Telephones (new) $8.20 n China Buses Sh$113⁄41⁄41⁄4 *- Singapore Traction 10/6 n. Singapore Pref. 22/6 b.--

Industrials

Malabon Sugar $8%1⁄2 n. Cáld: Maeg. (Ord.), Sh. $191⁄2

11.

Cald: Macg (Pref.), Sh. $18 Canton Tees $1.80 1. Cements $3341- F.K. Ropes $2 22

Stores, ete

Daily Farms $154 8. Watson $3 b. p. Lane, Crawford $32 Mackintosh $7_n. Sincères $4.90 b. Win Powells 70 ctx. Wing On (EK) 55 1

“Miscellaneous

E. K. Amusements $1.85. D. Entertainments, $4 SC Enterprises $1.35 n. Macao “Greyhounds”: $2 n. Constructions (old) $1.10 ne Constructions (new), 25 cts. n. Vibro Piling $4 n

Ch. Govt 6% 1925 G$Bda.-

90%

HK GovLX4% Lore 0%.

prem b

*EX Gort 3% Loun

210

2.35:

No. 1, No.3 No. 1 No. 3 Con. Con. Con. Con. 2336 233 247 237 2.496 232 264 235 Meanwhile the silver market Jam (1936) 221n 2.09 2250 2.06 continued on the downward trend.

March despite Mr. Morgenthau's state-

May ment that the Treasury was still New York Silk:- baying, which is considered in-

September December dicative that the Treasury con- tinues to adhere to the policy to!

March buy as cheaply as possible and avoid bidding up the market, but rather to accumulate a scale-down basis to face the pressure of liquidation

CONFERENCE EXPECTED

message from A further Washington states that Senator Pittman introduced 2 resolution. into the Senate authorising a special committee of fire to con fer with Mr. Morgenthau, to study the effect of the silver buying policy here and abroad.

The Senate's approval is pected

TAX BILL PASSED

Montreal Silver:- September December January March

2.08 213

1661⁄2 160

· 161

65.25

1662 161 1.60

65.201 65.50% 65.60 65.851 65.75m 67.10 67.10

It is understood that the Catbolic Party desires to find favour with the Minister, of Economics, DË. Gelissen, the assertion even being made that the party's programme, for tariffs and credit in order to

assist industry played a consider-

able part in deciding the recon-

etraction of the Colijn Cabinet

Trans-Ocean Service.

M. CHIAPPE FIGHTS A DUEL

Bullet "Fell Off" Him

NO RECONCILIATION WITH OPPONENT

M. Chiappe. 5ft 4in. "Lord Mayor" and former Police Com- missioner of Paris, fought a duel with pistols recently.

His opponent was M. Godin, 67- year-old ex-president, of the Paris Municipal Council that is. ́ex Lord Mayor-and a noted shot.

The medical

report says M Godin was wounded.

Went to Work M. Godin denies it. He told a London newspaper:

"The bullet hit me on the thigh, but my clothing broke its force The bullet fell harmless- ly to the ground. I picked it up, and I am keeping it for a Souvenir."

To show how unharmed he was be went to his office from the duelling field...

The duellists met at 8.30 am in the garden of a private house near the Bois de Boulogne. They stood 25 paces apart

Each fired two shots. The first two went wide.

31 Godin fired his second shot. and missed.

M Chiappe's second bullet hit

NEW YORK STOCK M. Godin

EXCHANGE

August 16.

11.00

There was no reconciliation.

An Open Letter

The duel arose out of an open

The following quotations were re-leter in which M. Godin accused M Chiappe of being "spattered reived by Benter.

with mnd" from the Stavisky scandal. The ex-police chief ap pointed two municipal councillors, and 10 Colonel des Isnards Armand Massard, as seconds.

M. Armand Massard is a former champion swordsman of France. M. Godin's seconds were General Brisaand des Maillet and ̈ M·E. Fiori, Deputy for Algiers.

Last close 10.20 NY/London 4.98% 498% 49874 ex-İNLY.. Cotton “

Oct.

11.14 11.06 11.01 May

10.88 10.84 10.72 NY. Rubber

Dec:

12:17 ∙12.243 1224

87

$6

· 89%

57%

43

Sept

35%

A later message from Washing- ton states that the Senate passed. What the Roosevelt Tax Bill by 57 votes Dec. 88% to 22, with an amendment proc. Corn Sept. 75% hibiting fature issues of Federal tax exempt securities,

The differences with the House Amer Smelting 434 43% Con Gas N.F. 33% 33% of Representatives must now be Eler Bond & adjusted in conference. Reuter

Dec. STOCKS:—

38%

T 17% Share General Motors 432 433 ITel & Tel 11% 114 11%

41% 1441

34%

BERLIN SHARE Loew's Inc 41%

MARKET Large Increase In

Turnover

CHINA MAIL" SPECIAL

Berlin day

The tendency the Berlin operators

in on

Montgomery

Ward

2

35%

35

INT. Central

Standard 01

NI

437

U.S. Steel

MONTHLY RAUB OUTPUT

The Hong Kong Stock: rday, change has received a cable the publi lessrs. Derrick & Comp tain sections

in Singapore inglas marked Raub Australian Gold

Ltd

ann

were the fou

jade gust 1985 to

the dro

ly broken

For a time there was a doubt whether the duel could take place. The Socialist newspapers. Pogu laire and Oeuvre alleged that M Chiappe in 1932 refied to accept ja duel challenge from M. Bianconi,

a Corsican newspaper director.

Debarred

According to the rules of bon our governing French duelling å Surwho has rejected challenge may be debarred from issuing a Ichalleng

eidez

iTrans-Ocean