1935-08-21 — Page 6

BANKS

HONG KONG AND SHANGHAI | THE CHARTERED BANK OF

BANKING CORPORATION.

Authorised Capital .....

$50,000,000

INDIA, AUSTRALIA & CHINA.

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

Reserve Fands-

Sterling .. € 6,500,000 Silver --$ 0,000,000 Reserve Liability of Pro-

Fictors

HEAD OFFICE HONG KONG,

BOARD OF DIRECTORS,

= B Deatwall, qu

Chairman,

Caight Eng.~

Deputy Charm

3. Cimyburza. Engu

HEAD OFFICE: LONDON Paid-up Capital

Reserve. Liability of Pro

Babaria

......£3,000,000 £5,000,000

THE CHINA MAIL. WEDNESDAY, AUGUST 21, 1935

PROVISIONAL

Commerce and LAND TAXES IN

LOCAL DOLLAR DECLINES

£3,000,000 Forward Silver Down

Agencies and Branches:

Rangoon

20,000,000

Reserve Fund

prietors

Alor titu

Amritsar

Deila Ipoh

Bangkok

Karachi

Hortbay

Calenta Canton

Sunla

Furbing

Cabe

Madam

Colombo

Manila

Haiphong Hamburg

New York

Priping

Hankow

(Peking)

Iniestan Vokaberne Zamboanga

W. H. Bell, Esq., A. S. Morrison Esq, Cavapors A IL Compton Esq.

T. Johnson, E

Hon. Mr. J. J. Paterson,

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

ANOY

BANGKOK

UKATASTA BUSIBAY CALCOITA CANTON

CUBWOO

COLONBO

DAIREX Yorktow

HAIPHONG

HMRG- KANKAW -HARRIS BONGKE

IPELIT

JOHORE

XOBE

KOWLOON

BRANCHES-

LONDUR

LYONS

MALACCA

MANILA

SCAR fobore) MURDEN

NEW YORK

PEIPTA

NANG

BANGOON

SAIGON

SAN FRANCISCO

KUALA LUMPUR

SHANGHAI

SINGAMBR

SOURARATA

SONGKI PATANT

TIENTSIN

TOKYO

Boo Босе

Lumper

Prasa

Saigon Semog Sevenhan Shangbai Singapore Pitman www.bay Teimos Zientais. A Toseksh

(Baker)

Foreign Esubangs and Count Beaking

tranecard.

The local dollar has declined opening on demand this mor- ning at 1/11 (nominal).

Silver prices. varied. "spot" being steady at 29 and "forward" declining 3 to 29 9/16

The London on New York cross- rate was quoted at £-US.S4.984 as compared with £-US$497 while the New York on London cross-rate was unchanged at £→

Carpet Arronnee corned and Fland Deposit received for one year or aborter berioda at tales US:$4.95. which will be quoted on application.

A. BREARLEY,

Manager Hong Kong, 1st January, 1935.

THE BANK OF CANTON, LTD.

Established 1912.

Read Office:—Hong Kong.

Authorised Capital

Paid-up Capital

EXCHANGES

TO-DAY'S QUOTATION

TRINGTAO

YOKOHAMA

Common Accus aged in Local Currency and Fixed Impermite pierd for one eat or Time in Lender and Sterling and will to gosted on application.

Hong Kong. 6th April, 1935.

HONG KONG SAVINGS BANK

The

of the above Thuck in condoct ed to the OMG KONG AND SHANGHAI

BANKING CORPORATING

Driven privation.

FS THE NG RONG AND SHANG BAY BANKING CORPORATION

V. M. GEATETEN,

Total Resources

Branches Canton, Toishan, Shanghai. On Singapore—

Hankow, Bangkok & San Francisco.

London Bankers: Lloyds Bank, Ltd,

Foreign Exchange and Banking On Japan- 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 Manager

AMERICAN EXPRESS COMPANY,

Khir may be

Court Manager".

Hos Kang Mulenary, 1955,

$11,000,000,00

THE BANK OF EAST ASIA, LTD.

Authorised Capital

Pudup Capital

-$ $,208,800.00 Emerus and Cadivided Profit $2,090,000.00

HEAD OFFICE::~HONG KONG

20. Dan Tamek Bond Cutral.

THE

70%

Finance

LOCAL SHARES

TO-DAY'S QUOTATIONS

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

Banks

KWANGTUNG

Increased Revenue

Foreseen

NEW LEVIES TO BEGIN NEXT MONTH

[From Our Own Correspondent]

Canton, To-day-

The collection of the pro-

NEW YORK STOCK MARKET

Damage To Spring Wheat Crop

CONSIDERABLE REDUCTION IN YIELD

In their market report, Messrs SE Levy and Company, corres- pondents for Messrs: White Weld and Company, New York, state:-

"Stocks: To-night, the Utility

HK Bank $1,100, $1,075/20/visional land tax throughout Holding Company Bill' seems likely on to be passed in any forms and, as

JES

HK. Bank (London) 111

Chartered Bank 13 n Mercantile Bank A. and

994 1.

Mercantile C £1

Bank of East Asia $76 n.

Insurances

Canton Ins. $185 n Union Ins. $385 1- China Underwriters 10 cts. 2. China Fire Ins. $382 n.. HK. Fire Ins. $185 m. International Assce. $4 m.

Shipping

Douglases $36.D.

HK. Steamboats. $4 m. Indo-Chinas (Pref), $30 1.

Indo-Chinas (Def.), $14 m Shell (Bearer) 73/12 1. Union Waterboats $111⁄4 n-

Mining

NEW ADVERTISEMENTS

PUBLIC AUCTION

THE Undersigned have received

instructions to sell by Public

Auction

Saturday, the 24th August, 1935 commencing at 10.30 am. at "The Nest" No. 25, Nathan Road. Kowloon Shop Fittings and a small quantity of Provisions

On view from Friday, the 23rd.

Terms: Cash on Delivery. August, 1985,

LAMMERT BROS.

Auctioneers Hong Kong, 21st August, 1935.

Kwangtung will begin September 11, and it will be this Bill goes, so goes the market collected by the county authori-Business done: 1.950,000 shares.

"Wheat: There is further con- B.ties instead of the Provincial

firmation of serious damage to the! Department of Finance here

The new tax is said to be scien-Spring wheat crop. The Winnipeg tific and equitable, although the Free Press claims that the con- be siderable reduction in the yield burden on the people will

It is estimated that and the quality of the crop have heavier the total revenue from this tax checked selling. Opinion regar COMMODITY PRICES aling the market remains unchanged.

will yield about $11,000,000

The following quotations bare crease of revenue by $7,000,000 bushels. "Corn: 7,422,000 bushels. been received by Reuter

"Cotton: Mills continue to yearly.

year, which represents an in-Total sales: Wheat: 22472,000

The following telegrams were July

the obligation to render land tax justment Administration say that September to the Government. This new there will be no cotton loan 20-December scheme works out more satisfac-ouncement to-day."

January

Senator Rayburn, co-author of March the Utility Holding Company Bill May says that Conferees will agree to the Bill..

BERLIN SHARE received by Reater

な

On London

On T.T. demand

4 months sight

1/1174 1/11's

$11,000,000

8,655,000 On Shanghai- 32,170,492

Credits 4 months' sight...2/0

On demand

130

On demand

On demand

1634

On India.

Antamoks 791⁄21⁄2 cts. n.

On T.T. and demand

12814

On New York-

Balatoes $18 n. Baguio Gold $24

..

On demand

48%

Credits 60 days" sight

503%

On Batavia-mi

On demand

cts. n. Benguet Consolidated $12.10 Benguet. Exploration 13 cts. n. Benguet Goldfield *10 cts n Big Wedge 8 cts.

former practice. n. torily than the

and by efficient collection more revenue is expected

On Paris-

Gold Creek 30 cts, mi

On demand

725

Gold River 7 cts. 11. 2

Credit 4 months" sight

770

Ipo Mining 90 cts. 1.

INC.

On Saigon

Itogons 3 cts. n.

On demand

72%

Salacots 12 ets

Head Office:~65, Broadway,.

New York

On Manila-

Kailan Mining Ad, 12/6 n.

On demand

96%

Langkats (Single) Sh. $14 f.

Capital Surplus Reserves

„US $6,000,000.00 2,183,633.06 870.731.05

On Bangkok-

S'ha Exploration Sh.$41⁄2 n

On demand

9534

Sovereigns bank buying rate 2/0

Shai Loans Sh. $54. Raubs $74 b.

Ametentato Antwerp

BRANCHES:--

Genos Giarow

Bar silver per oz.

29

Venz; Goldfield $2:30 n.

Bar silver in Hong Kong

HOTM

Kapica

Copper cash

дот

Docks, etc.

Dýramyn Parin

Copper cents

(old)

par.

Priping

Palermoo

Rotterda

Rate of native interest.. 3% pa Chinese Sub., Coin

Shawhai Southampton

Hong Kong sub, coin

33% dis

par:

Singapore

Tientsin

Taormina

3"

Venice

Yokohama Zurich

Recir Parkin

Porabay

Ba

Pranei

BOARD OF DIRECTORS;—

bir Shemson Chow Ci rami,

Li Boss Chun. Em P. KR. Eng. HOOK: Y-a-Tons. Eng Chim Chime shek, Eng. In Las fang. Emper Wong Chu 200 Fay and Ean Ting Per Eng

KAD Tone Po.. Eng." Chart Manager.

Li The Foot Finja Manager:

Trata win

Donkey

BRANCHES AND AGENCYES:

Calcutta Canto Haiphong

Albert

Amat

Amag

Hankow

Elmnalaalta

Kobe

Kowloos Leadoa ..

Humalu |

Speaki

Cairo..

Calcutta.

·Setharg

Canner Colgenbay. Cosimahag

(make

Niagapore

TONYA

Purin

Finburgh Florenc Genera

Popios

P

Bydney Thoic

Saigon

*Tren team

Takro

San Francisco

Vancouver Yokohama

Every devription of Backing and Exchange

The Hagu FATINIR Hamburg Harte Fridathug Interlaken IMPURRIED Indra Liverpool Lasereret Larpno Lor

Karities. - Monte Carlo

Yanila Munich

Montreux

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

NEW YORK STOCK EXCHANGE

Latest Quotations

August 21.

The following quotitions were 20-

All classes of Commercial Banking esived by Beater-

businem, izsovacted. Lonas granted on #sproved Transactions undertaken.

Current Accounts opened in Local Currency

sod: Fixed Deponite received: for one tran

20

Personal

aborter periods in Local and Foreign Currencies handled..

on terms which will be quoted on application.

Safe Deposit Boxes To Ler

KAN TONG PO.

Chind Manager.

investment

The Company offers to intending Travellers the use of its "Travellers Cheques" and Letters of Credit and in addition, the world-wide services of its thoroughly equipped Travel C. Wheat

Sept. Dec. Manager.C. Corn. Sept. 73% Dec.

55 STOCKS:-

THE CHINA & SOUTH SEA BANK, Department EW. DUGGAN.

LIMITED

Head Office ..

(Incorporated in China).

Shanghai

$7,500,000.00

$1,500,000.00

Capital

Reserve

4;

Existing land taxes are miscel-main small buyers laneous, and troublesome. Former on sidelines, awaiting some def-New York Cotton:~~ land owners are required to pay nite announcement regarding a October

December land taxes, while the present/cotton loan. holders are exempted. Transfer Flash: Sears Roebuck's sales January (1936) 11.19 of property does not transfer the are up 21 per cent during the four March

weeks ended August 13.” duty of paying land rates.

re- Traders are!

Prev. Yesterday Closing Closing

1142

-11.32

- 11.25

1113 11:09

11.15

11.06

May

11.14

11.05

On the other hand, the new tax regulation is that with the signment of real property goes

11.08

11.02

as-received last night:

Spot

11.70 11.50

Officials of the Agricultural Ad-New York Rubber:-

佩

11.81 11.81

12.03.

12.04

12.10

12 122ty,

12.243

12:26

1236

1240a

never Chicago Wheat:-

September

85%

Latest Quotations The following.quotations were May

December

ST/% 8934

$87%

91%

Chicago Corn

Prev. To-day's" September close closeDecember

737%

55

TCSS-rate NY. Cotton Oct.....11.2 NY. Rubber Sept. ILST Chicago Wheat Sept. 85 Chicago Com Sept., 733% Montreal Silver Dec. 65.90 Silver Official ... 65* 65%

Dow Jones Averages

198

498%

May

56

574

11.02 Winnipeg Wheat:

11.84

August

8472

$679

$7

October

83

$5%

432

Décember

**83%

85

65.35

New York Sugar:---

Sept

Dec.

Na 1 Na 3 No. 1 No. 3' "Con. Con Con Con

2.586 2:43 - 249 263 237 2.65 `241 Jan (1936) 224 211 2.24. 213 March May

2.12

213

2.17"

218

New-York Silk:

1.65

1.70

December ¡March-

1.59:

1632

160/2

1.63

Montreal Silver:----

65.35

65.29

65.90

65.35

66.00 65.501

67.45 65.800

MARKET

Eastern Fair Gives Impetus

*** CHINA -MAIL " SPECIAL

Berlin, To-day.

N.Y/London

TEXTILE INDUSTRY September

The reports of brisk business 30 Industrials 125.33 126.21 02 oft 35:53 35.56 03 up at the Koenigsberg Eastern Fair 20 Rails HK and K Wharves

27.01 27.01 un ged and the announcement that the 20 Utilities. $7.8

140 Bonds 96.43 96.30 13 of number of foreign buyers who H.K and K. Wharves (new) have already registered for at-

11 Commodity.

Index

53.10 53.55 45 ́úp. Business Dome:-1,980,000 shares. tendance at next week's Leipzig.

expected, Fair is greater than acted stimulatingly on the Berlin also the share market,

as did publication of the monthly turns of the Savings Banks on June 30, showing increased de posits and mortgages contracted. Hence the duliness apparent Monday again disappeared, prices being mostly former.

-$741⁄2 1- H.K. and W. Dock $7% le Providents (old) 65 cts. z. Providents (new) 20 cts. I- Hong Kew Sh. $240 m. New Engineering Sh. 34 n. Shanghat Docks Sh.$78 n.

Cotton Mills

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

$65 n.

Sh.

Shanghai Cotton (new) 340 n. Zoong Sings Sh. $82 n.

Wing On Textiles Sh. $25 1. Lands, Hotels, etc.

H.K. and S. Hotel $3.55 b.. HK. Lands $28 b. ex. div. Shanghai Lands Sh. $2011⁄2 1. Metropolitan Lands Sh. $10 m Humphreys $772/1 HK Realties $4 n. Chinese Estates $88 n.

Last close

accounts

[NY/London 1975

NY. Cotton

10.20 11.00 4.984

Oct May

11.42 11.14

1132 11:03

NT. Rubber

Dec.

12.03

11.97

£5

86

ευτής

884

TA

55%

43

Banking

Head Office: Hong Kong 26, Des Voeux Road Central.

Con Gas N.T. 32 Elec Bond &•

Share

1234 General Motors 42% Int Tel & Tel 11% Loew's Inc

314

Hi

16

China Realties Sh.$4 n- China Debentures Sh.$123 11.

Public Utilities

42

1134

41

40%

Montgomery

Ward

34

34%

HK Tramways $12.60 m, Peak Trams. (old) $73⁄41⁄2 m Peak Trams (new) $53⁄41⁄2 n Star Ferries $78 b.

Standard Oil

NJ. U.S. Steel

46

45%

43%

Branches...All Important Cities}

Foreign Exchange

Business monacted."

in China

and. Gener

Current wird. Saving Accouste opeard"and Fixed Deponite mumiked for one year, or, shorter paciada..

at males which will be quited on application.

SOU Z CHANG.

Мапарт

HONG KONG BRANCH:

24. Dre Toruz Road, Central..

Maosger's Off

Fordi Exhange Dupt:"

General Omen

Caffiar's. Offer

--Tet, 28068. 3er

THE YOKOHAMA SPECIE BANK

LIMITED.

Established 1880

Capital (full paid-up) Yea. 100,000,000 Yen. 125,800,000 Reserve Fund

Head Office: YOKOHAMA

Branzies and Arencies at:

Alexandria

Batavis

Berliz

Bombay

Calcutta

¡Cantone

Dairen (Dalay)

Nagasaki Nagoya New York Osaka

Paris

Perping

goon

Fengtien Makden) Rio de Janeiro

Hamburg

Hankow

Harbin

Hong Kong

Honolulu

Hainking

Karachi

Kobe

London

Los Angeles

¿Manila“

Моя

San Francisco

Seattle

Semarang

Shanghai

Singapore Sourabaya

Sydney

Tientsin

Tokyo

Taingtan

THE WING ON BANK Amer Smelting 42%

LIMITED.

Authorized Capital $10,000,000

LONDON BANKERS:—— Westminster Band, Ltd.

Foreign Exchange and every des- NY. Central 22% cription of banking business transact-

ed.

Current Accounts and Savings Ac counts opened: Fixed Deposits re ceived at rates which will be quoted! on application Special rates given

for Special deposits.

Trusteeship and Executorship 10- dertaken. Safe Deposit Boxes for

hire.

PHILIP GOCKCHIN

Chief Manager

43%

RAILROAD ORGANISATION IN AMERICA

Washington, To-day-The Sen- ate, without the recording of a vote, passed the House of Repre

L. GOCKCHIN LI SHU PONG sentatives bill for the speeding Asst. Manager Asst Manager up of railroad organisation.

THE

SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED

(Incorporated in China)

Capital paid up $5,000,000, Reserves * $1,300,000. Capital Savings Dept: $500,000, Beserve Savings Dept. $800,000. Sal Head-Office—Shanghai. A Bank having as its mission the industrial development o China and the fostering af ber commercial relations'abroad. Hong Kong Office.....

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

Tingkow

Interest⠀⠀⠀ #liowed for Current

A

COMPLET

OW

Reuter.

THE MERCANTILE BANK OF INDIA, LTD.

·HEAD OFFICE

- 15. Groschnech Estrest, Lendam. “ELA. Authorized Capital£3,000,000 Subscribed: Capital ... 1,800,000 1,050,000 Paid-up Capital Reserve Fund & Rest.. 1,247,830,

HANTERS: The Bank of England & Midland Bank, Led "HRANCHES : BADIOR "Bombay

Colombo

[Mareg: Long

Howsh

Fandy Karachi

„Prane

Fort Lovis

Kuala Lipia e Zago Tunis "Loot Bag

Komutan (Pabung) Bimla-

·Madres

-BONG” LONG BRASCH

·Trastes

**Banking; and “Yad

Yaumati Ferries $17.60 m. C. Light $8.20 52. H.K. Electric $59 b., $591⁄2 sa. Macao Electrics $20 11. Sandakan Light $3 s. Telephones (old) $20.60 b., $203,

Telephones (new) $8.20 China Buses Sh$113⁄41⁄4 n Singapore Traction 10/6 n. Singapore Pref. 22/6 b.

Industrials Malabon Sugar 181⁄2 1-

re-

Long-Awaited Report Sent To White House

September

December January

Dr. Washington, To-day. The chairman of the special March Cabinet Committee on the tex-P

BILL IN US.

Fixed interest securities were tile industry has issued a state- "SOAK THE RICH" somewhat better, also especially ment to the effect that the gold mortgage bonds. Call money Committee's long-awaited was 2% to 3%-Trans-Ocean port was being sent to the Service.

MINES RESEARCH BOARD STATION AT BUXTON

London, to-day. The thirteenth annual report of the Safety in Mines Research Board states that

re-

White House yesterday or to

lay.

Raising Existing Gift It will include recommenda-] And Estate Taxes tions for relieving the industry | (from a number of problems, the

Washington, Today. chief of which will be the cot-

With the elimination of the ton processing tax and the im-new inheritance levies proposed. ports of Japanese cotton goods by President Roosevelt

well as Senator Borah, and an Reuter.

amendment forbidding future

during last summer a total of RAW RUBBER PRICES

4,600 miners and mines afficials

visited the research station at Latest Quotations From

Buxton, an increase of 1,700 over the previous highest number. The visitors included boys who had obtained Safety Badges" at win- ter classes for instruction safety in various mining areas British Wireless Service.

POOR RELIEF IN BRITISH ISLES DECREASES

Singapore

Messrs. H. B. Joseph & Co. have in received the following Straits Cur

rency quotations from Singapore for Raw Rubber:-

London, to-day Figures issued by the Ministry of Labour show Cald: Macg. (Fre£), Sh. $132 a general decrease in the number

IZ

Canton Ices $1.80 1.

Cements $34 B

HK. Ropes $21.

Stores, etc. Dairy Farms $15 h Watson $3.05 b Lane, Crawford $3 Mackintosh 37 Sinceres $5.30 b Wm. Powells 70 cts. n. Wing On (HK) $55 1:

Miscellaneous Entertainments $4 n- / S. C. Enterprises $1.25 ́n. Macão “Greyhounds", $2 m. Constructions (old) $1.10 Constructions. (new) 25 eta, në Vibro Piling LL

Ch. Govt 5% 1925 G#B

90%

FK Govt4% Loan

28

issues of Federal tax-exempt

Securities and the McCarran

amendment repealing much of

the Silver Purchase Act, the Senate and House of Represen tatives conference committee reached final agreement on the "Soak the Rich" tax bill.

Instead of the inheritance taxes the bill now agreed upon increase the existing Spot, 19 b. Up % 19 1⁄2 & would

Ben- October/December, 19 b estate and gift taxes. -

ter. Unchanged 19 January/March (1936), 20%

b., Down % 20 % 8. April/June (1936), Z1

Down 4 21 % 5 Market: Steadier."

Ys br

REICHSMARK QUOTATIONS

COTTON LOAN PROGRAMM

IN AMERICA

New York, To-day-The New. York Times - Washington- of persons in receipt of poor re

pondent says that the renewa lief In 47 selected areas in Eng-

the cotton loan programmde land, Wales and Scotland the

-Reichsmark the basis of 10 or 11 cents number relieved on a day in July was 13 per cent less than in the quotations (without guarantee)stead of last year's 12 cents previous month and 5.2 per cent are: New York, 40.40; Paris, 609; pears to be probable. A decs- The Amsterdam, 59.52; and London, sion is expected to be reached less than the year before. ¡decrease was fomewhat greater in 1233 The Paris sterling quota very soon Benter

the case of outdoor than indoor re- tion is 75.05, and the dollar, 15.06 lief-British Wireless Service.

Berlin, to-day,

Trans-Ocean Service.

British Exchequer Returns is It Insured?

London; to-day-

turns show that ordinary excluding

amounts

pazed

Revenue from. Customs

ane, cise is £2,552,000 greater, and

from estate dat