BANKS
HONG KONG AND SHANGHAI THE CHARTERED BANK OF
BANKING CORPORATION
Authorised Capital
.$50,000,000
Issued and Fully-Puld-up. 50,000,000|
Reserve Fundīs >--
Sterling ........ 6,500,000
Hong Kong Currency
Reserve......$10,000,000
Reserve Liability of Pro-
prietors
HEAD OFFICE: HONG KOXO.
BOARD OF DIRECTORS. Hon. Mr. J. J. Paterson. Chairman.
G. Miskin Esq., Deputy Chairman.
A. H. Compton, Esq., Hon. Mr. S. H. Dodwell, M. T. Johnson, Esq. J. R. Masson, Esq.
AXOT
INDIA, AUSTRALIA & CHINA
Iscorgounded by Royal Charter, 1953.
HEAD OFFICE; LONDON
Paid-up Capital
Reserve Fund
Reserve Lisbility of Pro-
prietors
COMMERCIAL.
THE CHINA MAIL
GERMAN COMPANY
LAW
Changes In Economic System
Berlin, To-day.
The changes in the German
£3,000,000 Company Law, which received. £3,000,000 Governmental sanction on Tues- considered in political -£3,000,000 day, are
eircles here to be of the greatest] importance to the country's econo- mic system.
Agencies and Branches:
Rangoon saigon Samarang Sarvasbaz
Shangbai
$20,000,000
Alor Star
Boile
Azorier
ipch
Bangkok
Baltim
Klant
Bu
Boba
Entrada Úno
Kumla Lumpur
SAN FROZEN
Kunking
Cavapore
Madras
Cabu
Mantis
Colombo
Delhi
Now Yoch
Toogi
laighoo
Hamburg Hashow Harbin
(Peking)
tuks) Tanya Yokohama Embui n
K. S. Morrison, Esq., T. E. Pearce, Eaq.. A. L. Shields, Esq. V. 3. Grayburn, Esq.
HANOIDE BATAVIA
BOMBAY
CALCUTTA
CANTON
CHETOO COLDY BO DAIBEN
FOOCHOW DAIPHONG HAMBURG
HANKOW
HAKAIN
FIDNOKEW
ILOILO
T7GH
КОМЕ
SORORE
KOWLOOK
Chist Manager.
BRANCHES-
XUALA LUMPUR
LONDON
LYONS
MALACCA
MANILA
MTAR (Jabove)
VUEDES
NEW YORK
PEIPINO
PENANG
RANGOON
RAIDON
هملونا
ة السبلة الدار
Jourabay Taiping Tunisia
Forsiga Bachange and Osaeral Banking busis transected.
new
Emphasis is laid on the fact that although Nazism is opposed: form of in principle to every annoymous association, the law concerning stocks and shares permits the continued existence in Germany of joint stock companies. on the ground that they form part of the organic structure of Ger-
man economy.
Currani Arconata opened and Pizad Deposito, recarted ice one jaar de shorter perioda si taias! It is also realised that the vast rhich will be good on applicat
Exacom
and Tr
The Bank's Head 050, in London undertake amounts of capital needed to-day saics by industry cannot be made avail- sema walch may be specialand så saglable in any other practical way.
Tovery British Income Tax oracpaldi, ma†,
Agacine and Brinches
A. BREARLEY,
The share-holder who places his capital at the disposal of an in- Manager dustrial effort, does not have to guarantee full liability.
Hong Kong, 1st January, 1933.
BAN FRANCISCO
RINOAPORT
NOURABLYA
SHANGRAT
RUNGEI PATANI
TIENTSIN
TUXTO
TRINOTIO
YOKOHAMA
Current counte opened in Local Currency and Led Dupontha mesired for abs your we shorter periode in Loval Currency and Birling an beas which will be quoted on apelionkiem.
ALBO 25 % AW KAFE DEPOSIT 2013 in
varie si TO LEA
Hong Kong, 24th February, 1938.
HONG KONG SAVINGS BANK
The Basin of the aberve Bank is conducted by the HONG KONG AND SHANGHAI BANK. INO CORPORATION. Bom may be obtained na application.
TO
THE BONG KONG AND SHANGHAI BANKING CORPORATION.
Y. K. ORATBURN,
Chis! Manager.
Hong Kong, 4th February, 1936,
THE BANK OF EAST ASIA, LTD.
Authorem Capital
Paid-up Capital
$20,000,000.00 5,495,800.00
Kasers and Undivided Proti ........... $ 1,253,1935.32
READ OFFICE-BONO KONG.
10. Des Faux Boad, Central.
BOARD OF DIRASTOKI:-
Bonus Payments
The new Company Law, it is pointed out, seeks to abolish the THE CHINA & SOUTH SEA BANK, anonymous character of the power
LIMITED
(Incorporated in China) Head Oce-Shanghai Capital .................$7,500,000.00 Reserve
$1,500,000.00 Branches-All Important Cities m
China.
Foreign Exchange and Cameral Emaking-Buzin
translated
Currani and Baring Account opened and Fized Deposuis recived the non your of shorter pacloca At Phàm which will be quoted on application.
BOU Z. CHANG,
Manager.
HONG KONG BRANCH: 11, Queen's Road, Central. Manager's Odor
Forni
Exchange Dephaned to for the Dasara o ... Cashier's Onl
#065
1306
1
88569
THE WING ON BANK, LTD.
Head Office: Hong Kong
jot finance, in that in the future, directors of business undertakings: will have to assume the requisite responsibility and liability, where- as the annual general meeting of share-holders, which from now on Thas the duty of electing the governing board, is given purely advisory powers.
This virtually mear that in future, decisions regarding the balance sheet will have to be taken by the Board of Directors instead (of by a general meeting of share-
holders.
JAMIARY 29 1847-
LOCAL SHARE MARKET
The following was the Het - if quotations ismed at share to-day.
Banks
H.K. Bank $1875 sa HK (Lon. Reg.) #116 b. Chartered Bank $161⁄44 n. Mercantile Bank A. and B.
£3234 1
Mercantile Bank C. 5141⁄2 n. Bank of East Asia $83 n.
Insurances
Canton Ins. $311 b. Union Ins. $620 b., $625 sa. China Underwriters $1 n. H.K. Fire las. $3014 n. International Asace. Sh. 634
Shipping
Douglases $30 n.
H.K. Steamboats $7.40 n. Indo-China (Pref.) $35 n. Indo-Chinas (Def.) $36 n. Shells (Bearer) 134/4 n. Union Waterboats $10% sa.
Doeks, etc. H.K. and K. Wharves $107% a H.K. and W. Docks $151 b. Providents (Old) $1.60 n. Providents (New) 20 cts. n. New Engineering 8h.34 n. Shanghal Docks Sh.$90 n.
Mining
Kailan Mining Ad. 16/6 n. Kaobs $12.60. b. Venz. Goldfeld $8 n.
Lands, Hotels, etc. H.K. and S. Hotels $5 s. H.K. Lands $344. D. H.E. 4% Debentures $105 E. Shanghai Lands Sh.$16 n. Metropolitan Lands Sh. $10 n. Humphreys $954 2. H.K. Realties $4.40 5. Chinese Estates $76 n. China Realties 8h.34 n. China Debentures Sh.$60 1.
PHILIPPINE MINING
Antamoks
The governing or supervisory board is retained by the new Law as an important part of the com- Atoks pany's constitution apart from the Baguio Gold board of directors and the get-Balato Mining Jeral meeting of share-holders, but Benguet Consol. Benguet Explor this governing board must hence Big Wedge forth not consist of more than Demonstrations twenty members. No one person Coco Grove
one Gumaus G'feld belong to more than
E. Mindano governing body.
Consolidated Mines Payments made to board mem Ipo Gold bers in respect of bonuses must beli. X. L Current Accounts and Savings Ac-in proportion to the company's Itogons counts opened. Fixed Deposits re-financial situation and may be Masbate Consel. ceived at rates which will be quoted curtailed during a period of busi-Min. Resources on application.
ness depression.-Trans-Ocean. Trusteeship & Exsentorship under- taken. Bate Deposit Boxes for hire.
26, Des Voeux Road, Central Authorized Capital $10,000,000
LONDON BANKERS Westminster Bank, Ltd Foreign Exchange and every des- dang. E. Wong Chu son, Ex and xan Ting cription of banking business transact-
Hoo
Su Shou-400 Chew, Chairman; Li Kara Chua, Esq. P. I. Krék, Esq. Wong You | Yung,
Eng., Chan Ching Rhak, "Lagu La Lan
Po, Esq.
Kao_Tung Ps. Laqu, Chief Honagie, LA The Yong Zoq, Hingst.
BRANCHES AND AGENCIES:--
Manila Melbourne Nagmaki
Seattle
Aj
El
Sacaring
Boubey
Caloutle Canton
New York
Shanghai singapore Surabaya Słow
Haiphong Krato
العالمين
و محلوة
Puri
TICIAS
Hooiulu
PASADE
Talk dica
Kabe Kowloon LoadDa
Rangoon Saug San Francdca
Then beim
Tokyo
jed.
PHILIP GOCKCHIN, Chief ManageT.
C&D
COMMODITY PRICES Suyo Consel
United Paracales
WHOLESALE
PRICES IN
HONG KONG
INCREASES ARE RECORDED
TABLE OF PRICE CHANGES
The Imports and Exports De partment reports that according to an index constructed at the Statistical Office, wholesale prices in the Colony of Hong Kong dur- . ing the year 1936 recorded in- creases of 32.3% as compared with 1935, 12.7% as compared with 1934, and 3.1% as compared with the base period of 1922. There were decreases of 0.4%%, and 15.8%, as compared with the years 1933 and 1932 respectively.
Calculated by main groups of commodities the index number of Foodstuffs increased by $2.7% an compared with 1935, 20.1% as com- pared with 1934, and 13.3% as) compared with the base period of 1922. Textiles increased by 84.0%; as compared with 1935, 15.7% an) compared with 1934, and decreased by 0.6% AN compared with 1922. Metals ard Minerals increased by $4.3% as Com- pared with 1935 10.1% as com- pared with 1934, and 72% *s [compared with 1922. Miscellane- ous Articles increased by 27.9% as compared with 1995, 4.85% as compared with 1934, and decreased by 7.5% as compared with 1922,
The following table shows the course of price changes:
CANADIAN PACIFIC
WORLD'S - GREATEST · TRAVEL · SYSTEM
EMPRESS DE JAPAN EMPRESS of ASIA-
EMPRESS of CANADA EMPRESS of RUSSIA
Maintain a regular service to Vancouver Empress of Japan and Empress of Canada sail via Honolulu and Empress of Asia and Empress of Russia via the direct express route.
Air Conditioned sleeping cars and observation ears on all Trans-Continental Trains.
COOL QUIET
COMFORTABLE
Air is cleaned, dehumidifled, éonatantly freshened and kept at a uniform temperature,
EMPRESS OF JAPAN
SAILS FOR VANCOUVER via SHANGHAI JAPAN
& HONOLULU
AT NOON
TUESDAY, FEBRUARY 23rd.
For Information Apply To Your Own Agent Or
Canadian Pacific
SPANI THO WILS
Tel. 20752
DAILY CROSS-WORD PUZZLE
41
Closing Bates 10.
Foodstuffs Textiles
1935 1936 B5.4 113.3 742 99.4
Sales Local
Metals and Minerals Miscellaneous
79.8
107,2
72.3
$2.5
in Pesca. Currency
1.70
Average:-
77.9
103.1
Foodstuffa
.54
1935
34
1936
Beans
16
14
78.7
1214
14
Beef
123.0 161.1
21
Errs
.391
Flour (Wheat)
Salt Fish
.98
73.5 93.0 65.3 1044 113.9 97,5
18
9
12
(13
.84
Fruits, Fresh
201.6
256,2
Lard
.38
82.7 113.2
14
[17
18
119
.41
Milk (Condensed)
111.4
109.5
Mutton
.047
116.7
172.7
20
Onions
20
49.8 94.4
1.75
Peanut Oil
84.7
131.3
P
26
Pork
1.75
77.3
97.3
.56
Potatoes
60.4
88.0
29
.42
Poultry
88.1
92.2
Northern Mining
.181⁄2
Rice (Broken)
$8.6
103.0
32
Paracale Gamaus Salacot Mining San Mauricio
.85
Rice (White)
71.-
106.3
.07%
Sugar (Raw)
43.3
71.8
3.30
Vegetables (Dried, etc.) 46.6
34
55 36
$5.5
.53 1-40
Vermicelli
63.3
84.7
Textiles
42 43
1935 1936
n.
Cotton Yarn .......
77.1
105.0
Cotton (Dyed Plain) 67.2
60.9
Prev. Yesterday Closing Closing
New York Cotton: March
12.72
12.80
12.66
12.61
Peak Trams (old) 84 n. Peak Trams (new) $2% n. Star Ferries $93. Yaumati Ferries $25 n. C. Lights (old) $14
$13.90/.95 Ba
Italians (Dyed Figured.
$2
Plain)
67.3
€9.2
| Shirtings (White 40/43'
yds.)
38.9
50.3
Hemp (Manila)
074
140.0
147.8 1978
42.2 96.0
¡July
12.44
12.47
56.4 62.9
Chief Manager.
The local dollar is steady, open- October ing on demand yesterday at 1/2- December 29/32.
12.00
12.00
50k Yarn (Artificial)
19.8
20.6
11.97
11.97
January
11.96n
11.96n
Blankets (Wool &
Union)
78.1 106.6
HORIZONTAL
Comply
49-Directed
"Spot" silver was quoted at 20- 1/2 and "forward" at 20-7/16,
Spot
13.22
Flannels
203.6 216.2
13.30
4-Retain
New York Rubber: March
| Suitings & Tweeds
(Woollen)
-Quiet
413
61.5
21.12a
21.11n
Metals and Minerals
11-Youths
Obose
21.08
21.08
1935
1936
20.36
21.04
Brass Sheets
67.2
85.1
20.92
20.97
Yellow Metal Sheathing 73.5 Coal
103.9
16-A wager
73.1
85.0
17-Speck
cross-rate U.S.$4.90-1/16.
Was
quoted at
20.850
20.88
Iron & Steel Bars
78.9
108.4
18-Weep
Iron & Steel Nails Iron & Steel Plates Lead (Pig)
62.8
88.4
20-Uproar
112.4
175,0
22-Allude
76.G
24-Natural cavity in
148.9
Kerosene
29.7
the earth
40.8
Moji
Nagasaki
Nagoya
126,5 1484
25-Pairs
27-Pale
|Labricating Ou
Petrol
New York
Osaka
89.4 70.6 19.8 83.4 168.0 200.1
28-An lan
Takakama
Every description of Banking and Kanhanga Buni tratanted. Loane grated on approved
Carsal Accounts opened in Local CuresNY and Fixed Deposita received for sonyær se shorter perioda la Coost and Fœesign Currencies on terms which will be quoted on application.
Enia Deposit Ecus To Let
KAN TUSO To,
LOCAL DOLLAR
STEADY
The following quotations have been received by Reuter:-
Silver Prices Steadier May
Pubile Utilities H.K. Tramways $12
150
54
58
[63
THE YOKOHAMA SPECIE BANK
LIMITED
Established 1880
Capital (fully paid-up) Yen 100,000,000, Reserve Fund
The London on New York cross-May rate was quoted at £-U.S.34.89%, July
Yen. 130,900,000 while the New York on London September
Head Office: YOKOHAMA
Branches and Agencies at
Alexandria
Jangkok
Batavia
Berlin
Bombay
Calcutta
Canton
Dairen (Dainy)
Otara
Paris
Peiping
engtien (Mukden) Rangoon
Kamburg
fankow
Harbin
Hong Kong
Honolulu
Esinking
Karachi
Kobe
London
Manila
Los Angeles
Rio de Janeiro
San Francisco
Seattle
Semarang
Shanghai
Singapore
Sourabaya
Sydney
Tientsin
Tokyo
Tsingtau
Yingkow
Interest allowed for Current At-
counts.
Deposits received for fixed periods it rates to be obtained on applica- ious.
Y. KANO,
Manager. Hong Kong, 13th November, 1936.
THE--- SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED
(Incorporated in China)
Capital paid up .....$5,000,000. Reservis §7,500,000, Cap Savings Dept. $500,000. Heave Savings Depli $500,000. Head-Office-Shanghai
A Bank having as ita mission the industrial development on China are the fostering of ber commercial relations abroad. Hong Kong Office-
4. Queen'e Rand-Centrál. Phone 31116.
December [Continued at foot of next Col)
HONOURED
4 THROUGHOUT THE WORLD
American Express
Travelers Cheques
The safe and convenient means of carrying travel funds.
THE AMERICAN EXPRESS CO., INC.
Incorporated with Limited Liability in U.S.A.
4, Des Voeux Road, Central.
C. Lights (New) $10.95 sa, H.K. Electrics $55 b. Macao Electrics $20 n.
Sandakan Lights $10 n. Telephones (Old) $29 b. Telephones (New) $10.30 b. China Buses Eh.$111⁄4 n. Singapore Tractions 27/~ n. Singapore Pref. 27/-- n.
Industrials
B-Gunny Bags
Cald., Maeg. (Ord.) Sh.$194 n. Cald., Macg. (Pref.) Sh.$15 n. Canton Ices $2.05 n. Cements $10.80 b. H.K. Ropes $21⁄2 1.
Stores, etc.
Dairy Farms $22 b.
Watsone $4 D.. Lane, Crawfords 86 n.
Sinceres $24 n.
Wing On (H.K.) $50 ¤.
· Cotton Mill
Ewo Cottons Sh$15.70 n. Shanghal: Cotton (Old) Sh.$92
b.
Shanghai Cotton (New) Sh.$66|
b.
Zoong Sings Sh.$31 n. Wing On Textiles Sh. $44 b
Miscellaneous Entertainments $41⁄4 n. Constructions (Old)-$1% n. Constructions (New) 424 cts.
I.
Vibro Piling $51⁄2 n.
Ch. Govt. 5% 1825 G.$Bds.
934% n.
H.K. Govt. 4% Loan 8%
b.
L
HK. Govt. 3% Loan prem. X. inst
Wallace Harpers 34 n.
Hessian Cloth
Silk Piece. Goods
Oil Fuel
Tin
NEW YORK SHARE MARKET
Messrs. White, Weld & Company, New York Correspondents for Messrs. S. E. Levy & Company, Report:-
-Invades suddenly
13-8cottish language
14-Llable
23-Girl's name 31-Randers suitable 12-Greek goddess of
the dawn
#Portion 15-Rasque 28-Reverberate 42-in =
state of
exclusion
44-A small piece
|HORIZONTAL (Cont)
VERTICAL (Cont.) 15-Carry (Colleq.) 18-Fetince
51-Hub of a wheal 52-Part of the island of 19-Dog's cry
Great Britain (abbr.)|21-Hsif a score 53-The whole
54-Dexterity
56-Preposition 57-Genuine $3-Choice 160-Brief 1st-Coln
62-Binde 63-A rodent (pl.)
VERTICAL
1-Gritse 2-Tattie
-Church official 5-Mistake
-The Orient 7-A pastry ... B-Reddish-brown
pigment
[10-Wait open
12-Boil slowly
14-Troope
46-Combining form, Bun 13-Paradise 48-Raphir
24-Small bed
25-Strainer -
28-Move with a Jerk 30-Female depr
31-Enemy |34-Identical 35-Caral
35-8um up 37-Edge 39-A fowl
40-Patron saint of
Norway 41-Dutch colonist of
8. Africa 43-Transmite
¡44-Besk 45-Rand 147-A cream salot |4%=Winged:
Combining form. Al: 55-A horse's gait 57-Dacay
15-A naval title (abbr.)
The solution of the above with a new eross- will appear in to-morrow's izaus,
Stocks: There are no extimates yet of the extent of the flood dame: age to individual railroads and we understand that the citrus fruit loss in California, which would
Wheat: In the spread between have its effect on the freight re-wheat and corn we would consider ***ceipts of certain roads, has been taking part profits when the spread greatly over-estimated in "the press. [reaches the 12-cent difference with The situation with regard to atia view to reinstating the lower ties is unchanged, with uncertainty difference. ·
prem
still prevailing regarding possible
Total sales: 82,665,000 bushels. Government action. In the in-
Cotton: The 'action of the mar- 1%dustrial section of the market, the het suggests the advisability of continued strength of steels has taking partial profits on all bulges.
con-
TESTERD
SPRAY
RACCO ANT CHOKES AQT;UEZ GANACH J ROG DESCAPE KEY | CACIORO OGARNAi. GORCS AND OBLCP TCAR Under MöAL
AL
SINGAPORE KAV Mesars. H
the
a definite basis on earnings and
Flashes! The Texas Corporation prospects.
Information Rocent from well-informed sources
has declared a dividend of 50 cents 126 tinues to justify our opinion in per share. 1104 coppers and olls generally. The The Monsanto Chemical Com- 107% labour situation. continues to afford pany has declared an extra divi-
ground for belief in prospects of dend of 55 cents per share. defved
Irregularity, 106% further
hence, The Phillips Petroleum Com from Singapo 101% though watching favourable oppany has declared a dividend of Tency for Eaw Bubb
Spot 85--1 965 portunities for purchases, we 50 cents per share, budg
Feb/Mar. 85-1 b. Up
Chicago Wheat: May
July
September
12634 110% 107%
Chicago Corn:
May
[July
108/2 103%
September
98
Winnipeg Wheat:
May
119
July
116% 105%
1144 Business
105 'shares.
October
would concentrate où selective is- 117% 8ues.
done:
The American Smelting & Re Aining Company shows earnings for 2,840,000 the year ending December 31st of
15.30 per share.
Apr/June. 36% t. Up V July/Sept. 35-34 b. Up 14
"Market: Dul
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