1936-01-07 — Page 8

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION

$50,000,000

Issued and Fully Paid-up - 20,000,000

Anthorised Capital

Reserve Fundazol

Sterling

£6,500,000

Silver

$10,000,000

· prietoku

Baserve Liability of Pro-

HEAD OFFICE: HONG KONG.

BOARD OF DIRECTORS.

S. E. Dodwel, Eng.

C. C. Inight,-Zaq.

Deputy Chairm

Hon. Mr. W.HE.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA. Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON

Reserve Liability of Pro-

Bangkok

£3,000,000 „$3,000,000

THE CHINA MAIL, TUESDAY, JANUARY

Commerce and

Finance

LOCAL DOLLAR

STEADY

$3,000,000 "Forward" Silver Not

Agencies and Branchen:

Dodo Ipoh Karsobí

Quoted

Paid-up Capital

Reserve Fund

$20,000,000

prietors

App Stat

Amritan

Zangoon Saigon

Betaria

Seremben

Bombay

Shangha

Calcutre

Magapore

Laton

Catabors

Lamper Kuching

The local doliar is steady, open- ing on demand this moming at 15%d.

Madron

Colombo

Kadan

Haiphong

New York

Puping

(sic)

•Things..

201

Pening

Zakoname Tambang...

Hon. Mr. J. J. Paterson) Cebu A.E. Compton Esq., T. E Petro Esq MI Johnson Esq., JA. Plummer Esq. G. Miskin Esq, A. L. Shields Esq.

T. X. Grayburn. Enq

BANGKOK

CANTOX

COLOMBO DATRES-

Ching-Mnangat.

BRANCHES -

LONDOS LYOKS

MALACCA

KANZA

KUAS Colors)

MURDER

NEW YORK

PELPING

PENANG

BANGOOS

TOOCHOW

SALOOX

HAMBURG

BAN PRANCESCO

SELANG HAT

SINGAPORE.

HAYKOW

MINGIZW

SIIN

POR

JOHOKE

XOIS

TOWLOOR

KUALA LUMPUR

SUURABAYA

SÜNGEL PATANI

TIENTSAN

TOKYO

SINGTAO

YOKONANA

Our Docents crywound in Local Currency and Feed Deposite received for one your or shorter periode is Local Currency and Sterling

en terms which will be quoted on application.

AL50 up to date SAFE DEPOSIT BOXES in vanocasines TO LET.

Hong Kong, Jws Koreabur, 20

HONG KONG SAVINGS BANK

The Breizess of the above Back is cossuet- ed by ton HONG KONG AND SHANGNA PANKING CORPORATION. Hies they be stained on application.

FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.

V. K. ORATEURS,

Hamburg Banko Haring

trammarsad

Sourabaya Taiping Tiestain

SHARE MARKET

"TO-DAY'S QUOTATIONS The following is the list of local share quotations issued to-day:

Banka

HK Bank $1,495 b $2,500 sa FK Bank (London) 597 n Chartered Bank 13

"Spot" silver was quoted at Mercantile Bank A. and

The London on New York cross- rate was quoted at S-535927%

-Pompe Blade" mod worm Banking busas compared with US$492%. Current counts opened and Flad „Depoim while the New York on. Landon sexived for one year de stocase parstada në cross-rate was quoted at -US- which will be quoted an appãostiam..

A. BREARLET,

$493%, as compared with S--USA! $193.

Manage

Hong Kong, 1st January, 1935.

BR

U.S. SILVER POLICY

AMERICAN EXPRESS COMPANY, "Mutually Satisfactory

INC.

Head Offices-65, Broadway,

Capital

Su-plus

Reserves

New York

US$6,000,000.00

2,183,633.06 870,731.05

BRANCHES----

3

Antwor Jathethom

The tingue Horeca

Harburg HATTE Soweiterg Stock JOOʻZULLEN

clavar pool

BALI Bombu Bracel

COLEO

Cricutte

Chief Mangu.

L

Hong Kong, 25th Fabrasry, 1155.

Covembe L'osenga Dubin Edimburgs Faction

Тирми

Geneva

THE BANK OF EAST ASIA, LTD.

Authorina! — Capetai

400,060,00 Zaudrup Capita

.....................$ 9,506,500.00 Reserve and Undivided Proćte $ 24290,000,000),

HEAD OFFICE:-GONG KONG ______Y

130) Den Faux Boud, Central.

BOARD OF DIRECTORS:-

Sue Sherman Gore, CharmBAL,

Loon Crun in PFE

Jos Teck, Heg, Chan Ching Shok, Baggy Li Zas Bang Eng. Wong Chu Sos, Eng, and "Ban Ting

Kanung Po, Emp, Chief Manager. Li I'm Fong, Esq. Kager.

BRANCHES AND AGENCIES

Mazzila

Melbourne

Sentida

Bombay

Хармий

Semarang Sikmynd

New York

clagepro

Canton

Spiphong Backow

Facia

Bunion

Peping

Pessag

ن دينها

Mydis

*boku

Tenisin

Sajpos

Tokyo

Ban Francisco

Yokoh the

Son None

Paca reiging You

Bore

BLangbei DOUTDUPLO Singapore ***Ga

Swags

Boote Carlo Venzon

Munich

Yokohama

Agreement"

Washington, To-day.

Mr. Morgenthau announced that a "mutually satisfactory agree ment" had been reached in the silver conference with Senor { Saurez of · Mexico. Mr. Mor- genthau said that the Saurez con ference had been concluded, butj refused to elaborate his state- ment-Beater

LONDON MARKET WEAK London:

The silver market

was weak yesterday, the “spot” price for bar being a penny lowerį jat 2011⁄2d per ounce. The decline was due mainly to speculative selling. This price is the lowest since August 3, 1934-British Branches of American Express Wireless Service. Company in Principal cities of United States of America and Canada.

Korex

All classes of Commercial Banking NEW YORK STOCK

Transactions demakken

Personal investment secounts hand-

led..

The Company offers to intending Travellers the use of its "Tavellers

Cheques" and Letters of Credit and,¦

EXCHANGE

Latest Quotations

in addition, the world-wide services The following quotations were re- of its thoroughly equipped Travel ceived by Renter- Departmez..

62%

162914 1

Mercantile Bank G. £134 Bank of Fast Asix $76.

Insurances

Canton Ins. $275 m. Unions Ins. $570 3.

China Underwriters $1.10 sa. China Fire Ina. $480 n.. EK Fire Ins. $250 m International Assct. $4 n.

Shipping

Douglases "$36.

HK Steamboats. $4 1. Indo-Chinas (Pref), $30_n. Indo China (Pref.) $20 Shells (Bearer) 88/9 n. Union Waterboats $12 n.

Mining

Antamos $145 b., $1 sân Balatoes $171⁄2 n Baguio Gold 22 cts. Benguet Consolidated $16% a Benguet Exploration 11 ets. I Big Wedge 12 cts. a.. Gold Creek 30 cts. Gold River 7 cts. n. Ipo Mixing 90 eta. 3. Itogons Bb ta. I

Salacats 15 cts. n. Kailan Mining. Ad. 12/- n. Langkats (Single) Sh.$12 n. S'hai Exploration Sh$11 sa Shanghai Loans $47. Raubs $10 b. "Yenz; Goldfeld $35.

Docks, etc.

US FINANCES HEALTHY

BUDGET EST MATES INTROD CED

DEFICIT LARGELY DECREASED

Washington To-day:

The healthy state of the county's finances was the key-

Bduri

NEW YORK STOCK MARKET

Certain Purchases Advised

EFFECT OF US SUPREME.

• COURT DECISION-

NEW ADVERTISEMENTS

RUGBY FOOTBALL. INTERPORT

OFFICIAL PROGRAMME-

NOTICE

NEWSPAPER ENTER-

TPRISE LIMITED are

a0-

the said Pro- other prog

Messrs. White. Weld and Com- note of President Roosevelt's for Messrs SE. Lety and Com

pany New York, Corresponden message to Congress, introduc- ing the budget for the fiscal pany, report-

"Stock:-Our view of the in-thorised by this club to publish year ending June 30, 1987, The President said that the finances Court's decision regarding the Rugby Interport and to obtain plications from the Supreme the Official Programme of the of the Government were in a better condition than at any time Agricultural Adjustment Admin-advertising for

the past seven

istration is generally bullish, es- Stamme. No the credit of the Govern Perially for food textile, baking, will be recognized.

jpacking and tobacco shares. More. "Our policy is

over the division of Court decî- saidi

sion of six to three, plus the fin- the figures arove St There is to dar no doubt of theality of the decision, gives en- fundamental soundness of the couragement to the thought that the Supreme Court will disallow policy of 1933. If we proceed along the path followed we can look for other pending suits, säch as the ward to a continued redaction in Hence, we recommend for THE Undersigned have received. lowing the strength of utility instructions to sell by tublie deficits; increased tax receipts, and: declining expenditures for thei

We see no deflation in Auction needy and employed.

farm income for 1936 as payment for contracts have already been Friday, the 10th January, 1935 commmencing at 1030 am - We would recommend at Messrs. Dodwell & Co., Ltd,

shares

"My budget message of January 1935 forecast expenditures in 1938 made and will probably be car |of $8,520,000,000. Our most re

ried-out.

M. L. RAILTON.

Hon. Secretary. Hong Kong Football Club.

PUBLIC AUCTION

ΤΟ

cent estimate shows that the, ex- purchases of mail-order, motor (old premises) Queen's Building

done:-S,~

penditure will be $7,645,000,000, weakness. Business

and farm equipment securities on $875,000,000 less than the forecast. Receipts were estimated in Jan uary 1935 at $3,992,000,000.′′ Ati

A Quantity of Office Furniture,- Teak & Glass Partitions, Electric 1730,000 shares.

"Wheat: We think that the Fittings and Safes.

LAMMERT BROS.

present it appears that they will AAA decision will not affect Terms: Cash on Delivery be $2.411.000.000, an increase of winter wheat as this is already planted. The decision will have but little infuence on Spring wheat as the acreage is largely įplowed Supply positions con-

Auctioneers.

Hong Kong, 7th January, 1936–

Total WEEKLY MARKET

$419.000.000.

"My message of January 1935 forecast the gross

deficit to be $4.328,000,000, but the most recent figures show that the defcit wille bullish and we would buy be $3234,000,000, a decrease of

May wheat on weakness. sales:-10,989,000 bushels Com:] $1.294,000,000.".

-1,902,000 bushels. DEBT-RETIREMENT Referring to the broget for the "Cotton--The AAA decision fiscal year 1937 President Roose invalidates voluntary control and

beneft payments- velt declared that to rum its regul

Consequently. lar activities the Government we expect increasing pressure of wonki need $5,059,000,000. “I ex-new-crop cotton, especially De- pect to pay for these activities cember options. the President said, “with receiptsi Flash-Cam's estimate of the production of cars and trucks

HK. and K Wharves (old) of $5,654,000,000 leaving

$100 b, $100 sa.

excess of receipts of $585.000.000, in the United States and Canada RE and E Wharves (new) of which I need $580,000,000 for during the week ended January

HK and W. Docks $9 m Providents (old) $1.65 b. Providents (new) 15 cts. 1 Hong Kew Sh. $2974 a New Engineering Sh.34 m. Shanghai Docks. $80

Cotton Mills...

-

•

Ewo Cotton Sh$9. Shanghai Catton (old) Sh.$76

Shanghai Cotton (new) Sh$414

REPORT

Trading Decidedly Restricted

CLOTH-AND-YARN RATES- HIGHER

Messrs. James F. Hutton

and

debt retirement. Including ex- 4th indicates 65,840 units, against Co. Ltd., Manchester, reported ¡penditures, the gross deficit of 71,335 units the previous week as follows on December 4

1937, without the estimate for ad- Steel mill activity during the Cotton prices have continued ditional work of relief, is less than Past week is estimated at 492 per their upward movement during the gross deficit of 1936 by $2,136,-icent of capacity, against 46.7 per the past week, and both cloth and |000,000.

cent the previous week.

باد

NO NEW TAXATION

yarn rates have been higher. Trading has been decidedly res- tricted and offers generally have

la week or two ago.

Reviewing the fiscal year 1936 COMMODITY PRICES been on the basis of prices ruling

President Roosevelt said that the receipts were expected to totall The following quotations haye |$2,410,000,000, as compared with been received by Bester.

Demand from India has con estimated receipts of $3.991,000,-

tinned to be disappointing. While Prev. Yesterday there has been a fair amount of 1000. Expenditures, including debt

Closing Closing enquiry to hand, much of it has retirement, were expected to total New York Cotton:- $7,645,000,000,

against an March

been price-testing, and offers. where they have been received,

Jannary -

close 10.20 33.00

EW. DUGGAN,

Manager.

INY. Cotton,

May

11.10 1104 11.06 N.Y. Rubber

March

13.78 13.86 -18.84 Chicago-Wheat

Yay

1024

103 Chicago Cartı

Kay

61

:

Zoong Sings Sh$12 n.

(Incorporated in China) Head Office-Shanghai

Copper

2914

20

ES

Wing On Textiles Sh. $25 2. "

Lands, Hotels, etc.

11.33

11.39

Elec. Bond &

Sazze

164

General Motors 55%

16% 16% 55 552

HK and S. Eetel $5.35 b. HK- Lands $36% b

original estimate of $8,520,000,000. May These revised estimates showed a July gross deficit in the current fiscal October

11:10

11.15

have been on

2 very low

10.36

10.89

sometimes impossible basis.

and Na--

10.54

10.47

Int Tel & Tal 14

HK. Lands 4% Debentures $100

Mortgomery v

Ward

384

38

38

year of approximately $3,234,000,- December (1936) 10.55 000 instead of the original budget Spot forecast of $4,259,000,000.

10.45

turally business has been Scult to arrange.

12.107

1235

Central

29 43

29

4859

294 45

13.78

13.89

13.93

14.02

14.07

-14.77

ed to be adequate. No new addi September tional taxes would be proposed December The gross deficit of 1931 was Chicago. Wheat: estimated at $1.098.000,000 23 May

14.22m

1024

10234

HK. Tramways $1434 3, $14.60 compared with an estimated gross July

91

90%

deficit for 1936 of $3,234,000,000, September but 1937 did not allow for possible Chicago Carn: additional work relief expendi-,

90%

99%

MST

61%

621⁄4

Star Ferries 390 2

tures-Reuter-g

July

62%

6234

Winnipeg Wheat

WAGE ADVANCE TO MINERS

May

888

89

39%

New York Silk-

March

197

May

197 197

Every description of Banking and Exchange

minees soinsdad. Losos graced on approved THE CHINA & SOUTH SEA BANK,

anurite.

Cursul Aounts' opened in Local Cartuseg and Fad Deposita moved for one year or aborter perioda za Lamel and Foriga Curteazion

terms which will be quoted on application. bale Deposit Boxes To Lez

KAN TONG PO

Chand Managet.

THE YOKOHAMA SPECIE BANK

LIMITED

Established 1880

Capital (full paid-up) Yen, 100,000,000 Beserve Fund Yen. 127,450,000

Head Office: YOKOHAMA

Branches and Agencies at

Alexandria

Batavia

Berlin

Bombay

Calentza

Canton

Nagasaki Nagoya

New York

Osaka

Pariz

Peiping

Dairen (Baby). Pangoon Fengtien (Mukden) Rio de Janeiro

Hamburg

Hankow

Harbin

Hong Kong

Honolulu

San Francisco

Seattle Semarang Shanghai Singapore

Brinking

Karachi

Kobe

London

Los Angeles

Marila

Koji

Sourabaya

Sydney Tientsin Tokyo :: Tsingtan Yingkow

Interest allowed for Curent ́ ́Ac- copants.

Deposits received for fixed periods at rates to be obtained on application.

C.- KISHINAMI,

* Manager. Hong Fang, 12th September, 1985.

HONG KONG HEIGHTS

For the information of visitors the following list of some of the highest points on the Island andi Mainland is published-

ISLAND

Victoria Peak

LIMITED

Capital

.$7,500,000.00 Eeserve

$1,500,000.00 Branches All Important Cities

Chies

STOCKS:

Ansconda

Foreign Earhangs and General Banking Bunions seansacted.

Garment and Saving Accounts opened and Pized US. Steel Deposite received for oce y or shorter periods strains which he quoted on application.

SON CASO,

"Kanager.

HONG KONG BRANCH: 2. Da Yox Boad, Central.

Manager's Offic

Foreign Exchange Dept.

Owners-05or

Cushing's 05

THE WING ON BANK, LTD.

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

LONDON BANKERS: Westminster Bank, Ltd. Foreign Exchange and every des

The following quotations from Lon. don were received last night between (5.30 pm and 20,30 pub

Silver Spot 2135 (last close), 20% (last recd), id down '(change).

Silver Forward unquoted. Silver Report:-There was general selling. The market was steady at the fall.

<

Liverpool Cotton May 6.11 (kast close), 6.09 (last reed), 02 down (change).

Liverpool Waest March €/64 (last close), 6/6, (last reed), 1/6 down (change).

· London · Rabber-April-June (huy- eva), 6–11/16 1 (last close); 6-13/16 (last recd.), 1/8 mp (change).

cripto of banking business transact BERLIN SHARE

Current Accounts and Savings Ac counts opened Fixed Deposits re ceived st rates which will be quoted on application.

Trusteeship & Executorship under- taken. Safe Deposit Boxes for hira. PHILIP GOCKCHIN Chief Manager.

THE

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

· $7,300,000; Reserve Savings Dept. 3500,000. Capital Savings Dept. $500,000 f-- Head Office Shanghai

A Bank Having--aa its mixgion. the industrial · development on Chins, and the fostering of het commercial relations abroad. Hong Kong Office

6 Queen's Road-Cent

Phone: 31116-

Fest

1,823

Sigmal Station

1,774

Mt Parker

1,234

Mountain Lodge

1,725

The Eyrie

· 1,725

Peak Hotel

1,305

Takoo Sanatorium

1,000

Mt. Davis.

877

BLUE MOON

Bowen Road (Alterbeds)

MAINI AND

Taimoshan Kowloon Feat

1,971

LAVOURS: Obisku=ble- A

MARKET

Slightly Weaker Tendency

** CHINA. MAIL" SPECIAL

Berlin, To-day. The share market yesterday was weaker in tendency, buying or ders being few owing to the open ing of the application lists for the 424 per cent Treasury Bills of the German Railways, the closing. date being January 16 A5 per |cent, increase in freight rates on | the German - Railways announced by the Minister for Traffic, Baron on Eltz-Ruebenach, had little leffect on the share market.

The fixed interest securities market was quiet, but industrial |bonda" were: firmer -- Call" money. [was at÷2%% to 3 per cent.—Trans-

Ocean Service.ne

REICHSMARK QUOTATIONS

Berlin,To-day. quotations (withou yesterday/were!

26, Paris, 6097 / Am

275 and London

sterling quotation

THE DAIRY FARM and the dollar, 15.1 Trans Ocean Servic

Shanghai Lands Sh.$20 n. Metropolitan Lands Sh. $10 a Humphreys $10.60 sa HK Realties $5.35 b.. Chinese Estates $84- China Eealties $

China Debestures. Sh.35 21.

Public Utilities

Peak Trams (old) $5 b. Peak Trams (new) $41⁄2

Yannati Ferries $18.5.

82.

C. Lights (old) $10

C. Lights (new) $7.45 1.

+2

B.K. Electrics $6934 b., $693⁄447-

70% sa

Macao Electrica. $20 -1. Sandakan Light $2.10. a Telephones (old) $25.85 b. Telephones (new) $10:10 ss. China Busen Sh$114. Singapore Traction 17/- 2. Singapore Traction Pref. 25/-)

The

Industrials

Malabon Sugar $8.40 n.. Cald, Macg. (Ord) Sh$19% Cald: Macg. (Pref), Shapin Canton lees $1.45 Cements $7.85 5, $7.90 za. HLK Ropes: $4.35 z

New York Rubber: Turning to 1937 President March Roosevelt said that the receipts May. from the prevailing taxes appear-July

7 Calcutta Enquiry Enquiry from Calcutta has led Ito small lots of dhooties and se

veral lines of light whites being placed. Karachi is said to have booked sarries in moderate qužam 14.572 tities, while there has been a

14.35

892

1964 1954 1947

quiet enquiry for dyed goods for Bombay, and fancies for certain of the up-country outlets.

There has been a small trade in white shirtings for Ceylon, but with the exception of the Straits Set- tlements none of the smaller Far Eastern markets have showw much interest in prices. Business in finishing cloths has been ar Tanged for the Near East Egypt has remained quiet, although there has been a moderate demand for bleachers and the lighter styles.. Fair orders for prints and colour.

RAW RUBBER PRICES ed goods have again been mention-

NEGOTIATIONS NOT July

YET OVER

·MINE-OWNERS MEETING AGAIN ADJOURNED

Latest Quotations From Singapore

London, To-day. The meeting of the National} Executive of the Mine-owners Mesars В Joseph & Co., Federation, which was adjourned have received the following from before Christmas till: yes Straits Currency quotations from terday, has been further adjourn- Singapore for Raw Rubber. ed till after to-morrow's. Confer February/March 23-Up

• Spot-22-3⁄41⁄44 Up 1⁄4 b, 23 a Dairy Farm $21 b, $215/40 presentatives of the colliery own--23 18:30

ence between the miners and re-†

Bit

Stores, etc

*Watsons $432

Lane Crawfords $5% L Mackintosh 35

Sinceres $34

Powells 70 eta. a. Wing On (HK) $40 2

Miscellaneous

Entertainments ~$3.40-m. SC Enterprises $1.35 1. #Greyhounds” 12 m. istractions" (old) I

ers, when the latter have under April/me 29 % Up 4 b taken to give detailed particulars

24 As

of the offer previously commani-July/September 24 % Up cated to the mena"""representa- tires in general terms, in res ponse to the miners” elsim, for a

The owners have been in Snego- tiation

various categor

whose supp Jong-term

táong (new) 35 cts. h.jontaining hig Piling 4

-5 1925-GIE

Gort 4% LORD 5%%%

Walace Harpers

enable the

results

4

ed for West Africa, while further lots of limbrics, bleached shirt ings and dress goods have been booked with South Africa.

Sheeting In Request Sheetings, prints and dyes have been in some request for South America, while small lines or bleached goods verbeen placed” business for the Continent has not for the West Indies. Though

been brisk there has been marked 24 interest shown in dyed cloths for

Scandinavia.

In the Home Trade section con- tracts have been placed for isa- cies, and spring dreas goods, while business has also been: 87-

AFFORESTATION aged in overall cloths and

IN SHENSI

Grant Remitted By Nanking

sheetings On the yarn side prices continue to be very firm, espec ly in the Egyptian and finer American counts:

Shepsi as submitted: by the- Stensi Provincial Government.

The Ministry, besides ing a telegrant in the provi administration, wrying it to

the Afforestatić

possible,