1935-08-20 — Page 6

THE CHINA MATE, TUESDAY, AUGUST,

1935

BANKS

HONG KONG AND SHANGHAI

BANKING CORPORATION...“

Authorised Capital

$50,000,000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Issued and Fally, Paid-up 20,000,000 Incorporated by Royal Charter, 1853.

Reserve Funds

Reserve. Liability of Pro-

£3,000,000

Sterling

£6,500,000

Silver

40,000,000

prietors

HEAD OFFICE: LONDON Paid-up Capital 20,000,000 Reserve Fund

$3,000,000

HEAD OFFICE HONG KONG.

Reserve Liability of Pro-

prietors

£3,000,000

Alor Sear

Aanriter

DOARD OF DIRECTOK.

Doswell, Eag

Chairman...

CC night. Eng...

Deputy ChairINA

T. M.-Grayburn. Esq.

Chief Manage.

Bangkok:

Beleria

| Bombay

Calcutt Canton

| Cabe

W. H. Bell, Esq., E. S. Morrison E, Caspore M. T. Johnson, Esq. Colombe

A. H. Compton Esq

Hon Mr. J. J. Paterson,

G. Miskin, Esq. TE Pearce, Esq. Hamborg

ΑΥΓΟΥ

BANGTOK BATAVIA

BOMBAT

CALCUTTA

CANTON

CHEROC COLOMBO

- DAIREN

FOCHOW

BAITHONG

HAWAING “HANROWS"

HASRIN

BONGKET ILOILO

INT

JORNE

BRANCHES:-

LONDON

LYONS

MALACCA

MANILA

MCAR (Jobore!

MUXDEN

NEW YORK

PEITING

EXANG

RANGOON

SAIGON

SAN FRANCISCO

KUALA LUMPUR

SHANGHAI

SINGAPORE

SOFTABATA

SUNGET, PATAKI

Agencies and Branches:

Rangoon Salgroe Kekarang. Serpenheath. Shanghai Singapore Sitiawan

Tiebla

Ipak Karachi Nang

Lamper

Kuching

.

Madre

Makala

patil Haiphong

Moder

Tongind

4. Tak.

Prising

(Paling) Pesang

Baskon Harbie Hose Koog

Surabaya. Triping

(Bruker) Tsingtao

Yokohama

-Zamboanga

Farmagn Embanga sad General Banking but Carmens Accounts opened and Plant Depot rereited for one year or shorter periods at (which will be quoted on application.

A. BREARLET.

Manager. Hong Kong, 1st January, 1933.

THE BANK OF CANTON, LTD.

Established 1912.

Head Office-Hong Kong.

Commerce and Finance

LOCAL DOLLAR STEADY

Silver Prices Decline

The local dollar is steady, open- ing-on-demand this morning at 1/11.

Silver prices, however, declin ed. "spot 1/16 to 29 and "for! ward to-28-15/16.

The London on New York cross- rate was quoted at S-US$4.973%, as compared with US$497, while the New York on London Cross-rate was US$498, 23 compared with US$4.93.

EXCHANGES

TO-DAY'S QUOTATION

KORE

KOWLOON

TIENTSIN

TORTO

TSINGTAO TOKOHAMA

Current Accouate opened in Local Currency and Fixed penisu moriend for one year or shorter print in Lewend Currency and Sterling on to which, will har-gunted on applicazioni.

Hong Kong. 6th April, 1935.

HONG KONG SAVINGS BANK

The Bars of the whore Hark in conduct ad by the {{ONG KONG AND SHANGHAI BANKING CORPORATION, Rare may, be obtained on explicata.

FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.

T. M. GRATBURY,

Total ResouLCES

Branches: Canton, Toishan, Shanghai

Hankow, Bangkok & San Francisco. On demand London Bankers: Lloyds Bank, Ltd.

Foreign Exchange and Banking On Singapore

On demand business of every description trans- acted.

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

Safe Deposit Boxes (various sizes) for hire.

LOOK, POONG SHAN,

Chief Manageri

On Japan-

AMERICAN EXPRESS COMPANY, On Paris.

Boeg Kong. 2b Frimun

Chief Manage.

~

„$10,000,000,00

$ 5,508,600,00 2,481,000.00

THE

LOCAL SHARES

́TO-DAY'S QUOTATIONS

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

Banka

H.K. Bank $1075 b. H.K. Bank (London) 5112 Chartered Bank 18

Mercantile Bank A. and

$291 11.

Mercantile C. 512 D. Bank of East Asih $761⁄4 n.

Insurances

Canton Ins. $185 m. Union Ins. $380 1. China Underwriters 10 cl. The China Fire Ins. $582 m. HF Fire Ins. $185 m. International Assee. $4 m

Shipping

Douglases $36 ¤-.

HK. Steamboats $4 n. Indo-Chinas (Pref.), $30 n. Indo-Chinas (Def.). $12 n. Shell (Bearer) 73711⁄2

NEW

BANKING BILL SENT ADVERTISEMENTS

TO WHITE HOUSE

NEW POWERS FOR

PRESIDENT

PUBLIC AUCTION

Undersigned have recei

THE Ted instructions to sell by

CONTROL OF RESERVE BANKS

CREDIT POLICY

Earlier messages stated that the Washington, To-day. The Banking Bil conference Senate had passed and sent to the accepted by the White House-the Omnibus: Bank- report was House and the Senate, and the ing Bill, the conference report of

Public Auction

OTTE

Friday, the 23rd August. 1935, commencing at 230. pm.

at their Sales Room, No. 35, Hankow Road, Kowloon, A Quantity of VALUABLE HOUSEHOLD

comprising

FURNITURE

Chesterfield Suites, Bed Room

pets and Rugs, Glass and Por Bill has been forwarded to the which, reconciling the House and and Dining Room Furniture. Car- The underwrit the Senate differences, being accelain Ware. Gramaphones and White House. ing amendment was dropped cepted by the House and imme

Records Clocks, Ornamets, Ice The Bill gives the Government diately sent to the Senate for final Chests, Linen, Aluminium Ware, appointed Federal Reserve Board Congressional action-Renter Crockery, etc., etc., control of the Reserve banks” open in

Benguet Consolidated $1210 D Benguet Exploration 13 cts. Benguet Goldfield 10 cts n.

On London

Authorised Capital ...

$11,000,000

On T.T. and demand

1/11

Paid-up Capital

8,655,004 $2.170,492

4 months' sight

1/11%

Credits: 4 months' sight

2/4

On Shanghai...........

1824

Union Waterboats $1

Mining

[84]

Antamoks 793% cts.

Balatoes $18

On demand

1654

Baguio Gold $241⁄2 etsin.

On India-

On T.T. and demand

129%

On New York- On. demand

484

Big Wedge & cts. -

Credits 60 days' sight

50%

Gold Creek 30 cts. a.

On Batavia--

Gold River 7 cts. n.

On demand

7136%

Ipo Mining 90 cta zi

Itogons. 36 ets. 1.

as

INC.

On demand

735

Salacots 12 cts

Credits 4 months' sight

780

Kailan Mining Ad. 12/9 n.

Head Office:-65. Broadway, New York

On Saigon--

Langkats (Single) Sh. $14 2.

On demand

734

S'hai Exploration Sh.$4% n.

On Manila-

Shai Loans Sh. $54, n.

On demand

971

Rauba $7 b

$70.731.05

On Bangkok-

On demand

94%

Yenz: Goldfield $2:30 n.

Docks, etc.

BRANCHES:

Amsterda

Anteny

Athrom

•Annama

(repos Glagow The Hague Karena

Жина

Saples

¡Bar Silver per oz. --

29

Bamb

Piratur Para

Bar silver in Hong Kong

дот

Bertits

Copper cash

nom.

Pembay

Copper cents

"Bremen

Frames

Cairo

Index

Liwrpool

THE BANK OF EAST ASIA, LTD.

•Authorised: Capital

Paid-up Capital

•Reserve and Cadivided Profita

HEAD OFFICE:-BOVO KONG 10. De Tom Fond contral

BOARD OF DIRECTING:m

Sir Shou-on Chow, Chai nat

Loon Ches. Eat. P. E. Kwak. Esq. Teng THS TODE. En Char Ching shok, Eng Tri La Fox Eagong Chu Son. Eg and Ion Ting Pa Zeqμ

Tan Tour Po. Eng., Chief Maungat.",

Li Foog. Enqu. Manager.

BRANCHES AND AGENCLEX

Mourne

Capital Surplus Reserves

Amor

Mana

Fatim

Sembarang

Batavia

Bombay

Sanaki

Shanghai

Calcutta

New York

Singapore

Canton

Ovalta

Haiphong

Paris

Sourabaya Swatow

·Triping

bydney

Taitoks

Timalis

Tokyo.

Vancouver Yokobama

Hanko Honelala

Kahe "Kowloon Loodoo

Ponary

Rammod

Saigy A San Francines

· Every description of Backing and "Exchange baltees traanected. Los granted on approved

securities.

Cerrook Accounts opened in Ional Currency and Fixed Deporita · racaived for obe year or aborter periods in Local and Foreign Currence se teema, which will fur quoted, on application.

Bade Deposit Box To Let

KAN TONG PO

-Chief. Maonger.

Calcutta Concre Cniombe

Copenhagen Dublin Edinburgh Flettin Geners

.U.S.$6,000,000.00 2.183,633.06

Hamburg Harro

Inseinkre Jerusalem

Luceste

Lugano

Lutor

·Marneillon -

Monte Carlo „Manila "Menich

Montreux

Priping Palermo Rotterdam Foru Shanghai Southampton.

Singapore

Tientsin

Taormina

Vrons Tenice Yokohama Zarich

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

All classes of Commercial Banking Transactions undertaken.

Personal investiment

handled.

Sovereigns bank buying rate 2/-% HK and K. Wharves

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

par.

3% pa 33% dis

EASTERN FAIR IN

GERMANY

All Records Likely To Be Broken

→ CHINA MAIL – SPECIAL

Koenigsberg, To-day. The success of the Eastern

The Company offers to intending Travellers the use of its "Travellers Cheques" and Letters of Credit and, Fair, which was opened here on

addition, the world-wide services of its thoroughly equipped Travel Sunday last with a speech of the

iz

THE CHINA & SOUTH SEA BANK, Department,

LIMITED

(Incorporated in China) Head Office...Shanghai

Capital

Reserve

Branches

Foreign Exchange

Business transacted.

$7,500,000.00 $1,500,000.00

All Important Cities in China

and Chen?

Beaking

Current aid Saving Accounia opened and Fixed Deposits received for one your or shorter periodir

at istea which will be quoted on application.

500 Z CHANG,

HONG KONG EPARCE.

Kanager.

24. De Voss Bond, Castra),

Mabac's Office

General Office ---

Foreign Exchange. Dept.

Cashier's Offor

„Tal, 33565

$778. The

HK and K Wharves

$7472 1

also

A Selection of Black Wood Furniture

and'.

One Radio Set and Loud

PASSED WITHOUT, VOTE market policy through a 7 to 51 A message dated July 26 stat- majority over the representatives ed that the Senate without the of the banks in a new committes recording of a vote passed the empowered

policy.Banking Bill substantially as re- to dictate Furthermore, Fresident Roosevelt vised by the Senate Banking Com- is empowered to appoint a new mittee. The bill now went to Speaker.

Board with conference with the House of One Radio Set with Grams- Federal Reserve

Iphone and Pick-up in Cabinet. Senate approval before February Bepresentatives, which passed a 1, 1996, thereby getting complete much more drastic reform of the control of the Reserve Banks' cre-measure........ dit policy.

NEW YORK STOCK MARKET

Probable Further Decline

PROTECTION OF PROFITS

· RECOMMENDED

X

Prior to the passage of the bill the Senate, despite Administra- tion opposition, voted by 39 votes to 22 to retain the provision per- mitting the restricted underwrit- ing of securities by commercial banks' and also voted down by 59: votes to 10 a substitute proposal to

create a Government-owned central bank.

COMMITTEE AT WORK

A message dated June 30 stated that the Washington. correspon dent of the New York Times:

In their market report. Messrs. learned that an important amend

One "Atwater Kent" Radio Set- On View from Thursday, the 22nd. August, 1935.

LAMMERT EROS,

Auctioneers. Hong Kong. August 20, 1935.

MILK MARKETING SCHEME

Poll Shows Desire For

Retention

J

London. To-day.

The result of the poll of regis-

Agricultural S. E. Levy and Company. corres-ment of the Banking Act, which tered milk producers taken, as pondents for Messrs. White Waldbecame law earlier this year, had provided by the and Company, New York, state:been adopted by the Senate Bank-Marketing Act, to determine whe ing Sub-Committee. The Com-ther the milk marketing scheme *Stocks: Early Congressional mittee had just completed its instituted in 1933 should now be revoked or continued, is annome- adjournment seems to be reason-work of revising the new Bill

(new) prices this week will be mainly Securities Act of 1933

The amendment,

For continuing the

scheme.

ably sure, but the response of the The amendment would permit ed as follows:— market to this is now less favour-banks to underwrite new issues able than it was last week as Pre of securities, and would exempt 79,711 individual votesi or 81 per sidential pressure of the enactment them from civil liabilities impos- cent representing 1,431,342 votes (old) of "must" legislation is apparently ed upon underwriters under the based on the cow population, or

$6 per cent. effective. Hence, the progress of

For ending the scheme, 18,747 which had governed by daily Legislative de been urged by bankers for some individual votes

The fate of the time as velopments.

i means of reopening 222,722 votes, based on cow popa- Utility Bill is still in doubt, capital on the market, would go lation though reports indicate some pro-along way towards restoring to The milk marketing scheme gress towards a compromise. The deposit banks, including J. P. therefore will continue-British sizable volume of selling, the first Morgan & Co., their share of the Wireless Service..

HK and W. Dock $72 1 Providents (old) 66 cts. n. Providents (new) 20 cts. n. Hong Kew Sh. $240 n. New Engineering Sh. $4 n- Shanghai Docks St.$78 n.

Cotton Mills

Ewo Cottons Sh. 7. Shanghai Cotton (old)

$65.

in many weeks, indicates a prosecurities business taken away

re

bable further decline and we commend the protection of profits Sh-in trading accounts. Business

done: 2,070,000 shares.

n.

Shanghai Cotton (new) 340 Zoong Sings Sh. $31⁄2 Wing On Textiles Sh. $25 n. Lands, Hotels, etc. H.K. and S. Hotels $3.55 b,

$3.55/60 22.

HK. Lands $2834 b.

HK Lands 100% D

4% Debentures

Shanghai Lands Sh. $201⁄2 m.

greatest significance by the Pre-Metropolitan Lands Sh. $10 mi "E. W. DUGGAN. sident of the Reichsbank, Dr. Manager Schacht, was already evident on the opening day, when no fewer

THE WING ON BANK than 60,000 persons, which is 50

LIMITED.

Head Office: Hong Kong 26. Des Voeux Road Central.. Authorised Capital $10,000,000

LONDON BANKERS:--- Westminster Band, Ltd

per cent of the total attendance at last year's fair, paid admis- ision.

The exhibits, which afford a comprehensive survey of the high-quality products of German industry, also include sample Foreign Exchange and every; des-goods from Poland, Latvia, Tur- cription of banking business transact key and British India, of which Current Accounts and Savings Ac the last-named is represented for counts opened. Fixed Deposits re-the first time.-Trans-Ocean Ser- ceived at rates which will be quoted vice. on application. Special zates given for Special deposits.

[edi

Trusteeship and Executorship an

THE YOKOHAMA SPECIE BANK dertaken. Safe Deposit Boxes Sor

LIMITED.

Established 1880

Capital (full paid-up) Yen. 100,000,000 Reserve Fund A. Yen 127,800,000

Bead Office:-YOKOHAMA

Branches and Agencies at:

Nagasaki Nazoya New York Osaka

Alexandria

Berlin

Batavia

Bombay

Calcutta

Canton

Dairen (Dalny)

Hamburg

Paris

Peiping

Rangoon

San Francisço

Seattle

Tengden Mukden) Rio de Janeiro-

Haskow

Harbin

Hong Kong Honolulu

Banking

Kober

Londons

Los Angeles

Maniia

Hof

Semarang

Shanghai

“Singapore. Sourabaya

·Sydney Tientsin Tokyo

Tsingtan

Tingkow

Interest sllowed for Current

Deposits: crived for:

to be obtained

hire

L. GOCKCHEN Asst. Manager

PHILIP GOCKCHIN Chief Manager

LI SHU FONG Asst Manager

SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China) Capital paid up $5,000,000,

Reserves

$7,300,000. Capital Savings Dept. $500,000. Reserva Savings Dept. $800,000 “Head-Office---Shanghai g

A Bank having as its mission. the industrial development" con China and the fostering of her commercial relations abroad.” Hong Kong "Office-

7, Ice House "St. Phone 31481-2-3

GUFFET COAL BILL PASSED BY SENATE

Washington. To-day

passed the Guffey

votes to 168. which establishes

the

BERLIN SHARE MARKET

Extreme Caution Prevails

*** CHINA MAIL" SPECIAL

Berlin, To-day. Reports that the Italo-Abyssin- jian outlook was definitely more difficult, with slender prospects of an armed conflict being avert ed, caused buyers to exercise ex- treme caution on the Berlin share market yesterday, this attitude being intensified by Dr. Schacht's Koenigsberg speech on Sunday, though, on the other hand, his Femphatic

the Reich

currency would re- main stable helped to adjust the balance."

assurance

The

Prices weakened The turnover in fixe curities was confined.

limits Trans-Ocea

the close.

ervice

Humphreys $752 1. H.K. Realties $4 m

Chinese Estates $88 n. China Beatties Sh.$4 n... China Debentures Sh.$123 1. Public Utilities

HK. Tramways $12.60 m. Peak Trax (old) *7% 2- Peak Trams (new) 15% n. Star Ferries $72 b. Yanmati Ferries $17.60 2.

C Light $8.25/40 sk. HK. Electric $59 h., $591⁄2 sa. Macao Electrics 120 nj Sandakan Lizbt:$3 a: Telephones (old) $201⁄2 b. Telephones (new) · $8.20 China Buses Sh$111⁄4 n Singapore Traction 10/6 n. Singapore Pref. 22/6 3.

- Industrials Malabon Sugar: $871⁄2 11. Cald: Macg (Ord.), Sh. $191⁄2

Cald: Macg (Pre£.), Sh. $18 2. Watson $3 b., $3.10 32. Cements $34 BA HK. Ropes 2n

Stores, etc. Daily Farms $15% 5. Sinceres $5.255.2 Lane, Crawford $3. n. Mackintosh $7 'n Sinceres $5.10 h Wm. Powells 70.cts. Wing On (HK) $55

Miscellaneous Entertainments] 34;n.

SC Enterprises- $135 2. Macao: “Greyhounds” $2 Constructions (old) $1.10 Constanctions (new) $ Vibro Piling?$4\m/ Ch. Gost 5% 1925 G.Bds.

90%

4% Loan 62%

(Continued on Page 7)

DOMESTIC COPPER

SALES

Export Quotation Stiffens

Washington, To-day..

by the Banking Act of 1933:

MORGAN'S CHANGE-OVER The latter Act made it unlaw ful for any bank or similar or ganisation to receive deposits and at the same time engage in the business of issning, selling or un- derwriting securities,

The great financial house of J. P. Morgan & Co., as a result of the 1933 Bill, gave up their se- curity business, becoming a de- posit bank only..

OL

The Securities Act of 1933 pro- vided that underwriters as well as issuers and merchandisers Sales of domestic copper report securities might be sued by the ed at, 814 cents advance reflect purchasers if the registration of the constant expansion of de- the statement of issue contained mand coincidently sustained any untrue. statement or if any with the upturn in industrial ac material fact was omitted, tivity. The export quotation The new amendment, while also stiffened, with sales abroad, providing that ordinary deposit which recently slumped, im-banks might proving noticeably in the last issues of securities, both stocks few weeks, apparently on the and bonds, did not permit the war preparations in some Euro-banks to sell securities, either

wholesale or retail pean countries. Reuter.

RAW RUBBER PRICES Latest Quotations From Singapore

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

Spot 19% down / b. 19% s. October-December 19% down

by 19% January-March (1986) down 1⁄4 5, 203/ 3. April-June (1936) 21% down

by 21 Marketi

ber

Staguent

CANTON'S UNEMPLOYED

20%

underwrite new

SINO-SIAMESE TENSION

Chinese May Stop Importing Rice

Canton, To-day. Incensed by the anti-Chinese movement in Slam, the Overseas Chinese Labour Union in Annam frecently eirenlated a telegram urging the Central Government to prohibit the import of Siamese rice in order to make the Siamese authorities.come to their senses.

It is stated in the tel that rice may be purchased from Annam where most of the rice mills are operated by Chinese Central

REICHSMARK QUOTATIONS

Berlin,

representing

Everything

gone.. BUT YOUR SAVINGS

RENT

FOOD

CLOTHING

НЕАТ

TAXES

WATER

CHITS

SAVINGS

SAVE SOMETHING

START NOW UNDERWRITERS SAVINGS BANK

FOR THE FAR EAST, INC.

Azis Life Buiding

Is It Insured?

the

forwarde

Wallsre Harpers $4 n.