1937-02-08 — Page 17

THE CHINA MAIL, FEBRUARY 8, 1937.

BRITISH ENGINEERING OUTLOOK IMPROVES

The recovery in the British en- gineering industry noted in 1934 and 1935 has been greatly accele- rated during the past year, and the average rate of activity during the first three-quarters of 1936 was nearly 13 per cent. above the 1985

level.

China Committee Appointed

The Executive Conanules of*

rederation of Dritish naustries,

しまい

че двама

AUSTRIAN STATE

LOAN

Problem

BANKS

To Meet Unemployment HONG KONG AND SHANGHAI

Vienna, To-day. The issue of a State Loan of 180,000,000 schillings, the proceeds of which will be used to stimulate

members are Messrs. A. McKinstry, issued to balance the 1936 Budget. Julian I. Piggott, Frank Gill, Archi- The sum of 17,500,000 schillings bald Rose, J. L. Edmondson, S. Peter will be employed to cover invest- Leigh, R. S. Rowell, and Colonel R.ment outlays in the current year; E. Morcom.

| 22,000,000 ∙ schillings- will be allot-, -Engineering-ted to equipment of the Austrian

BANKING CORPORATION

Authorised - Capital ` Issued and Fully-Paid-up.: 20,000,000 Reserve Funds:--

Sterling

$50,000,000

AL£ 6,500,000

Hong Kong Currency

Reserve

.$10,000,000

Reserve Liability of Pro-

prietors

$20,000,000

HEAD OFFICES HONG KONG.

BOARD OF DIRECTORS. Hon. Mr. J. J. Paterson. Chairman... GMiskin, Esq., Deputy Chairman.

J. F. Bousfield, Eng.. Hon. Mr. S. HA K. T. Johnson, Esq.,

ΑΚΟΥ

J. R. Masson, Eag-

K. S. Morrison Bag., T. E. Pearce, Baq

A. L. Shield, Esq.

V. M. Grayburn, Esq., Chief Manager.

BRANCHES-

industry and thus provide employ Tothili-street, Lonoun, recently

ment on an extensive scale, has Whereas last year certain sections proved the jormation of a special been decided upon by the Schusch- of the engineering industry lagged be- committee, composed of experts, to nigg Government. hind others in their recovery, there is study the Chinese market and make The Loan, states the Minister of now scarcely any section which is not practical suggestions for improving Finance, will be issued at 90 and fairly fully occupied. While the pre-England's trade with China. depression level has not yet been

will bear interest at 41⁄2 percent, but reached, 1986 has seen substantial re Committee is Lt.-General Sir George redeem short-term Treasury Bills & Compton, Sewell,

The chairman of the new China

54,000,000 schillings will be used to covery in shipbuilding, and the railway re-equipment programmes,

MacDonogh, G.B.B. and the other together with a welcome increase în exports, have assisted in dragging the locomo tive industry out of the desperate con- dition which it was in a few years ago. Many sections of the engineering industry have, of course, been consider- ably aided by the rearmament pro- gramme, which has affected not only AAAAAAA Army; 22,000,000 schillings will be those normally directly responsible for

used for road building, and con- arms manufacture,

to the lower prices usually obtained siderable amounts such as military

will be ear- aircraft, naval shipbuilding and the compared with the home market. The marked for continuing electrifica- manufacture of ordnance, but also present situation offers perhaps greation of the most important railways.|

HAMBUEG ter possibilities than any previous

HANKOW ELABBIN boom, since recovery in exports has The Loan will be repayable in

HONGKEW before usually come more or less thirty years and will necessitate an ILOILO

IPOH home market, whereas there is still the about 11,000,000 schillings. This KOWLOON simultaneously with recovery in the increase in the debt service of- JOEORE

KOBE Possibility that a recovery in exports:

will be covered by an increase in will in the present instance be super-

KUALA LUMPUR imposed on the home market boomstamp duties.

In this connection the recovery in The Finance Minister also reveal

those which partly through not being so fully occupied as other branches of engineering, have received substantial Government orders, eg, tanks in the case of locomotive firms, and shell cases in the case of textile machinists. Machinery Exports Whereas, however, in 1935 recovery

BANGKOK BATAVIA BOMBAY CALCUTTA CANTON CHEFOO COLOMBO

DAIREN FOOCHOW

HAIPHONG

LONDON LYONS MALACCA MANILA MUAR (Jobare) MUKDEN NEW YORK FELPING

PENANG RANGOON SATGUR

FRANCISCO SHANGHAI SINGAPORE SOUPABAYA

SUNGEL PATANI

TIENTSIN

ΤΟΚΤΟ

TSINGTAO

YOKOHAMA

Current Accounts opened in Local Currency and periods in Local Company and Sterling on terms Fixed Deposite received, for one year or shorter

ALSO up to date, SAFE. DEPOSIT BOXES in

in exports made some contribution to the former gold-bloc countries, which, ed that the Austrian Government which will be quoted on application

in spite of accompanying dislocations,

a

Hong Kong, 24th February, 1936.

HONG KONG SAVINGS BANK

wards recovery in the industry as whole, the total British exports of machinery in 1936 have barely main has followed on the heels of devalua is determined to liquidate the Inter-ions is 10 LET. tained the volume of 1935, and still tion more quickly than was perhaps national Federal Loan of 1930, but remain 33 per cent. below the 1928 commonly expected, is

a promising that international conversations maximum. There has, it is true, been factor, as British exports to the Con-would first be necessary-Trans-

still represent a recovery in the value of engineeringtinental countries

a Ocean. exports amounting to over-6 per cent trade in many engineering and other large proportion of the total export but it must be remembered that costs have definitely tended to increase products-Engineering. throughout 1936 as regards both labour and raw materials.

Casks containing caviare washed ashore at Sandgate, Hythe, have been taken charge of by coastguards, who The Northern Command Tattoo an- will hand them over to the Beceiver of Great Britain failed to experience thorities have completed the normal reaction to

caviare, which is de- currency

in arrange- Wrecks. The valuation in the early days of the de- three years in Roundhay Park, Leeds. been consigned from Bussia to Paris ments to hold the event for the next good condition, is believed to have pression—namely, the increase in the cost of imports--because she repre- sented in the case of so

Mr. Justice Timothy Sullivan, Pre- materials one of the most important sident of the Free State High Court world markets, and the strength of her of Justice, has been appointed President purchasing power was ficient to in- of the Supreme Court and Chief Justice fict what was, in fact, a deflationary of the Free State. process on the rest of the world.

many raw

}

Now, however, with the general rise Signor Mussolini has distributed the of raw material and commodity prices, equivalent of $6,080 to 95 mothers of producers of these are in a much large families. stronger position and this country is being faced with an increase in the cost of imported materials at a time. also when the volume of imports, as a .result of rearmament and other fac-

tors, is also increasing.

Rise In Copper

It is only necessary to draw atten- tion as an example of this to the rise in the price of copper (one of the most important imported: raw -materials of the engineering industry not only for electrical engineering but also for general engineering brasses) from just over £35 per ton for standard at the end of 1935 to over £45 at the end of 1936; but the price of lead (used for cables and batteries and a variety of other engineering uses as well as extensively in the construction trades). has followed an even more striking

course.

On the whole, in spite of the sub- stantially increased costs of imported iron ore and of coke (following, for instance, the agreed increase in coal prices to meet the miners wage demands) the steel industry resisted the temptation to push up steel prices to excessive levels under the influence of the unique de-

has

and New York.

A camp for two tank battalions with a large expanse of thick concrete „for manoeuvring exercises, is being built near Warminster, on the fringe of Salisbury Plain.

An Italian Cabinet meeting has de- cided to sanction the 40-hour working week by decree.

application.

The Business of the above Bank in conducted by the HONG KONG AND SHANGHAT BANK- ING CORPORATION. Bules may be obtained FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.

7. M. GRAYBURN,

Chief Manager. Hong Kong, 24th February, 1995.

THE YOKOHAMA SPECIE BANK LIMITED

Established 1880

Capital (fully paid-up) Yen.100,000,000 Reserve Fund. Yen 130,900,000 Head Office: YOKOHAMA Branches and Agencies at

THE CHARTERED BANK OF THE BANK OF EAST ASIA, LTD. Alexandria

INDIA, AUSTRALIA & CHINA

Incorporated by Royal Charter," 1853,

HEAD OFFICE: LONDON

£3,000,000 £3,000,000

£3,000,000

Paid-up Capital Reserve Fund Reserve Liability of Pro-

prietors

Agencies and Branches:

Alor Star Amritsar Bangkok Batavia Bombay Calcutta Canton Cawnpore Cebu Colombo

Delhi

Flaito

Ipoh

Kazachi

Klang. Kobe

Kuala Lumpur

Bangoon Saigon Semarang

Seremban Shanghai Singaporn Sitiawan Sourabaya.

Bangkok Batavia 598,808,00 Berlin 2,683,873.52 Bombay

1.$10,000,000.00

Authorised Capital

Paid-up Capital

Beserve and Undivided Profita

HEAD OFFICE: HONG KONG

10, 'Dea Vœux Road, Central.

BOARD OF DIRECTORS--

Calcutta

Canton

Dairen (Dairy)

Moji Nagasaki

Nagoya

New York

Osaka

Otard

Pazis

Peiping

· Río de JaneiTO

Hon. Siz Shou-son Chow, Chairman; Li Kom Fengtien (Mukden) Rangoon Chan, Esq., P. K. Kwok, E. Wong In Hamburg Tong, Esq., Cosm Ching Shak, Esq. Hankow

Sang, Esq., Wong: Chu Soo, Esq, and Kan Xing. Po. Esq.

Amoy

Bom

Kan Tung Po, Bag, Chief Manager. Li The Forg. Esq., Manager.

BRANCHES AND AGENCIES

Seattle

Semarang

Shanghai Eingapore Sourabaya Swator

San Francisco

Seattle

Semarang

Shanghai

Harbin

Hong Kong

Honolulu

Hsinking

Singapore

Karachi

Malbourne

Sonrabaya

Nawasaki

Manila

Taiping

Medan

New York

Tiantain Tongkah

Paiping

(Peking)

Penang

(Banket) Tsingtao Yokohama Zamboanga

Calcutte Canton Haiphong Hanco

Kebe "Kowloon London

New Yock

Kobe London

Sydney

Tientsin

Manila

Tokyo

Feiping

Sydney

Los Angeles

Tsingtan

g

Tientsio Ickyo Vancouver

Yingkow

Kuching

· Madras

al-Banking business

Kamburg Hankow Harbin Hong Kong Foreign Exchange and General- Erusacted.

Current Accociats opened and Fized Deposita received for one year, or shorter periods at rstes which all be quoted on application

The Bank's Head Office in Lendon undertakes Executor and theexte business,

cisins every of British Income Tax overpaid, on terms which may be ascertained, at any

mand conditions now current and of the long delivery dates on most classes of steel; but steel prices have risen, in Agencies and Branches. the case of certain classes, - such motor body sheets, to an extent which has evoked strong protest from the engineering industries concerned.

Great Possibilities.

B$

The importance of international trade to the future of the engineer- ing, as also to that of most other Bri tish manufacturing industries, can scarcely be over-emphasised. Thes main rush of rearmament orders, is likely to have spent itself by the end of 1937 or at any rate by mid-1938, and if trade to be r

importance tá develop which many?

have re owing to

tende

recess

A. BREARLEY,

Manager. Hong Kong, 1st January, 1935.

Bring Your

PRINTING

屈

Problems to Us

Ltd

Every Ameription of Banking and Exchange Lounted on approved

business fracassoted... securities.

Current Accomodat

opened in Local Currency and Fixed Deponte zooved for ORD JOLF & aborter periods in Loos and Foreign Currencies on terms, which will be quoted on applicatiem.

Safe Deposit Box To Let

KAN TUNG PO

Chief- Manager.

THE WING ON BANK, LTD.

Head Office: Hong Kong,

Des Voeur Road, Central. Authorised Capital $10,000,000.

LONDON BANKERS---- Westminster Bank Ltd

change and every des of banking business transact-

Current Accounts, and Savings Ac- counts ↑ opened. Mixed Deposi „ceived rates" which will be quoted.

Deposit Boxes for hire. SPHILIP GOCK CHIN, Chief Mas

Interest allowed for Current Ac counts.

Deposits received for fixed periods at rates to be obtained on applica- tions.

Y. KANO,

Manager. Hong Kong, 18th November, 1936,

THE

SHANGHAI COMMERCIAL &

SAVINGS BANK LIMITED

(Incorporated in China)

Capital paid up Baserres

Capital Savings Dept. Beserve

$5,000,000.

500,000,

50,000,

$800,000,

its mission.

the

fosterian