1937-02-16 — Page 17

THE CHINA MAIL, FEBRUARY 16, 1987.

EMPIRE MARKET

EXPANDING

Anglo-New Zealand Trade

and

RUBBER PRICE SHOULD

ROBE

BE STABILISED THES

BANKS

KONG AND SHANGHAI BANKING CORPORATION

$50,000,000 20,000,000

€500,000

$10,000,000

Sterling Hong Kong Current Reserve Liability of Pro-

Reserve

prietors

For the first time since 1929, the subsequent, decline. price of crude rubber has passed the Something should be done and 19-cent, mark, and by every present now-to avert any sinalar occurren New Zealand's desire for an increasin the next few months. This rise in of cultivation alone, and

indication will reach higher brackets It is time to call a halt to res ing share in an expanding market was expressed by Mr. Walter Nash, New Prices is due almost solely to the re- thought to price stabilisation. Zealand's Minister of Finance

gulations and restrictions imposed on Rubber manufacturers do not solicit Marketing, in an address to members signatory countries by the Internation- a low price on crude rubber. Nor do of the London Chamber of Commerce. unannounced and unofficial goal of this emphatically prefer and merit- & al Rubber Regulation Committee. The they favour a high prices. They most "If the United Kingdom Govern- ment," he said, "will give us this ex-committee has been reached, viz.: a reasonable and not unstable price.

A Reasonable Price panding share we in turn will guaran-spot price for crude rubber sufficient to tee to utilise the whole of the credits

enable profits for the producers. According to carefully considered that come from the sale of our pro-

Reaching of allied goals limited estimates, a price of 16 to 18 cents a

decline in world ducts in the United Kingdom for the Production,

stocks, pound on crude rubber would enable purchase of manufactured goods here, consumption increase--has caused the efficient plantations to pay excellent

price rise. "This year we will send to the Unit

dividends after providing for deprecis- ed Kingdom more goods than have eve

Now that crude rubber prices have tion, replanting gradually, and--all been sent in any given period in the passed the 19-cent mark, it would seem other expenses.

that the time has arrived for the In-

Price stabilisation around that figure history of New Zealand. They will pro- bably approximate to £50,000,000, international Rubber Regulation Com- should certainly satisfy plantation in-M. T. Johnsm, Bas

mittee to consider more carefully and vestors, privately-owned not more."

REVISION OF

·

cultivation

$20,000,000

HEAD OFFICE HONG KONG.

BOARD OF DIRECTORS. Hon Mr. J#Paterson. G. Miskito, Esq., →Depaty - Chadema.

J. L. Bowfeld, Esq.

Compson, Esq

E. Dodwell, A.

BANGKOK BATAVIA

CANT CHT

HARBIY

Mr. Nash said that if the policy he more fully the effect of their past de projects and other interests. It would had set out was agreed to by the Unit-cisions on the manufacturers who con-be a move in the right direction, al- ed Kingdom

sume the raw material. Government Japanese

though it might and would be heavily AMOY competition would not be a factor in

Something Should Be Done frowned upon by market speculators. Additional price increases in crude the trade of New Zealand.

Particularly would small rabber "If our policy is agreed to," he add-rubber would certainly make it in manufacturers receive such stabilisa- CALCUTTA ed, "we will take all our cotton piece creasingly difficult for many manufac- tion with open arms. As a good and goods from the United Kingdom.”

turers, particularly smaller manufac steady customer, the rubber manufac turers, to compete with their large turer warrants this consideration. competitors. It might even result in In the same manner that the Inter- forcing many small manufacturers to national Rubber Regulation Committee close their doors-especially if there achieved restricted production, increas occurs any even mild skyrocketing of ed consumption, smaller world stocks, prices.

and thus higher prices, so now must it Crude rubber prices are still rising assure reasonable price stability. The There is no assurance that the rise need is imperative; the method is “un- may not get temporarily out of the important; the result would be a grati- Committee's power to control. Only, fying increase of confidence in the A “prudent revision" of Great Bri- eleven years ago, in 1925, the average capacity and dependability of the In- tain's existing trade agreements with price per pound for the year was 72.46 ternational Committee The Rubber several European countries is recom-cents, and just as small manufacturers Age. mended in the preliminary report of suffered on the rise, the stronger com- Committee on Trade Agreements ap- panies took an equal beating on the pointed by the Association of British Chambers of Commerce.

BRITISH

TRADE PACTS

regard to its agricultural policy.

BERLIN BOURSE

The countries referred to are Den- The committee is in general agre mark, Estonia, Finland, Iceland, Lat-ment with the League of Nations Eco

Berlin, To-day. via, Lithuania, Norway, Poland and nomic Committee on the question of

The new week on the Bourse Sweden.

equality of treatment, to ensure which opened with the share market dull, The report states that while certain is the object of the most favoured-na-buying orders from banks being al- advantages to British trade have re- tion clause in commercial treaties. It most entirely non-existent. sulted from the agreements, the is strongly of the opinion, however, foreign countries mentioned still have that such treatment should only be ar- the better of the bargain.

The report bases the need for revi- ison. on the following grounds:

Protective Regime.

The agreements were made when "the trade depression was still acute;

Far-reaching changes in the balance of world economic forces have since occurred; and

HONGEW oO IPOH

JOHORE KOBE

KOWLOON

IB Matson, Eag., KAS. Morzison, Fag., LE Pearce, Eag AL. Shinida, Esq.

Mi Grayburn Esq.,

Chiaf÷Maraget..

BRANCHES--

KUALA LUMPUR.

LONDON - LYONS MALACCA MANILA MUAR. (Jobore)

MUKDEN NEW TOKK FEXPING PENANG HANGOON SAIGON

SAN-FRANCISCO –

SHANGHAI SINGAPORE

SOUBABAYA SUNGEI PATANI TIENTSIN TOKYO TSINGTAO YOKOHAMA

Current Accounts opened by Local Currency and Fixed Deposits received force year or aborter periods in Local Company and Sterling a teams which will-be-quoted-on-application.

ALSO up to date SAFE DEPOSIT BOXES in Various sites TO LET –

Hong Kong, 24th February, 1936.

HONG KONG SAVINGS BANK

The Business of the above Bank is conducted ING COEFORA"MON,“ Eries may be obtained de. applications -

be the HONG KONG AND SHANGHAI BANK

The turn-over, which was very BANKING CORPORATION,

FOR THE HONG KONG AND SHANGHAI

corded to countries prepared to meet small, consisted almost entirely of the reasonable requirements of this deals carried out by operators. country in their treatment of British goods.

Price movements were erratic

T. IL GRAYBURN,

Chief Manager. Bong Kong, Mih-February 1995,

The report declares that some-trades but declines were mostly small, the complain that they are entirely over-market showing good resistance THE YOKOHAMA SPECIE BANK looked in the agreements.

lowing to the absence of selling or-

ders on foreign account.

The purchase arrangements in the agreements have proved of great be

LIMITED

Established 1880

United Kingdom commercial policynefit, and the committee suggests that, News of the renewal of the Ger under a protective regime has itself where this system is substituted for man-Polish trade treaty for two) developed perceptibly beyond the point preferential grants of licences and at which it stood when these agree quotas, it should be extended to manu years had a stimulating effect Lat- Capital (fully paid-up) Yen.100,000,000 ments were made, and not least so infactured goods in general.

er in the day.--Trans-Ocean.

THE

AMERICAN EXPRESS COMPANY

INC

Incorporated with Limited Liability in U.S.A.

„Head: Office:-65, Broadway,

New York.

Capital

Surplus

Reserves

THE BANK OF EAST ASIA, LTD.

Authorised" Capital

Paid-up Capital

Beserve and Undivided. Profits

$10,000,000,00 5,598,000.00 685.235.52

HEAD OFFICE:~HONG KONG. 10, Des-For-Bond, Central.

BOARD OF DIRECTORS:— Hos. Sir Shou-son Chow, Caniman: Li Kenm Chur, Esq. P. K. Kwok, Esq., Wong - Yon Tong, Esq., Chaz Ching-Shak, Raq., Li Lan Sang

Wong. Chn Bon, Esq. and Ean Ying Po, Esq.

Kan Tung Po, Esq., Chief Mazager. Li Tsa Fong, Bag, Manager

BRANCHES AND AGENCIES:

Manila Melbourne

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

Incorporated by Royal Charter, 1858, HEAD OFFICE: LONDON

Paid-up Capital Reserve Fund

Reserve Fund.

Yen: 130,900,000 Head Office: YOKOHAMA Branches and Agencies at

Alexandria

Bangkok Batavia Berlin Bombay

|Calcutta

Moji Nagasaki

Fengtien (Mukden). Rangoon

£3,000,000 Hamburg

Nagoya

New York

Osaka

Canton

Paris

Dairen (Dainy)

Peiping

£3,000,000

Zip de Jeneiro

£8,000,000

Hankow Harbin

San Francisco

Hồng Kong

Semarang

Honolulu

Shanghai

Rangoon Saigon

Hsinking

Singapore

Karachi

Sourabaya

Sydney

London

Manila

Tientsin

Reserve Liability of "Pro-

prietors

Agencies and Branches:

Baile Ipoh

amchi

Semarang Seremban

Kobe

U.S.$6,000,000.00 2,240,344:38 897,612.65

Alor Star Amritsar

AMOT

Seattle

Bangbok

Bateria

Semarang

Bateria

Kisng

Kian Nice Naples Piraeus Faris Peiping

Bombay Calutis Canton

Nagasaki New York

Shanghai

Eingapore

Bombay Calcutta

Kobe

Kuala Lumpur

Sourabaya

Canton

Kuching

Sydney

Foricon London

Razgoom

Saigon

Tientsin

Campore Cebu Colombo Dalki Esiphong Hamburg

Peiping

Moder New York

(Peking) Panang

Barbin

Tsingtao Yokohama Zamboanga

Seattle

Amsterdam

Antworp Athens Ausban

Baxle Berlin Botabay

Bensools Caira

Calorsta Cannee Colombo

Copenhagen

Dublin Pinberg's Florence

Genos

BRANCHES:---

Glasgow The Hague Hamborg Harre Haidelberg Interlaken Jermaniam Landas Liverpool Landerbo Lugano

Monte-Carlo

Kamila Manich

Montreux

Rotterdam Home Shanghai

Southampton Singapore

Tientsia Vienna Varice Yokohama Zurich

Branches of American Expa Company in Principal cities of United States of America and Ganada.

All classes of Commercial Banki Transactions undertaken.

Personal investment secounts handled.

Haiphong Hankow Honolulu Kobe

San Francisco.

Every description of Banking and Exchange business transacted. Loans granted on approved securities. (NAS

Current

Accounts opened in LocalCurrency and-Fixed Deporila - zsosived for one' FURT: OF aborter periods in Local and Foreign Currencias on terms which will be quoted on "application.

Sais Deposit Boxes To Let.

KAN TUNG PO

-Chief: Manager.

THE WING ON BANK LTD. Head Office Hong Kong 26, Des Voeux Road, Central. Authorised Capital $10,000,000

LONDON BANKERS:-

- Westminster Bank Ltd. Foreign change and every des- cription of banking business transact- Led

The Company offers to intending Current Accounts and Savings Ac- Travellers the use of its “Travellers comts opened. Mixed Deposits re- Cheques” and Letters of Credit and, ceived at rates which will be quoted in addition, the world-wide services † on application. of its thoroughly equipped Travel #Department.

EW DUGGAN,

Manager.

Trusteeship & Executorship Asker Safe Deposit Boxes for his

PHILIP GOCK CHIN Chief Manager.

Hong Kong.

Foreign Exchange and General Baricing, business transacted

· |-Current » Accounts opened: and Fized Deposita received for one-year or shorter periods at eaten "which" will be"quoted qui application,

The Bank's Hand Once in London undertakes Executor and Trustee business, -and · claims; - renovary of British Income Tax - overpaid, on terma” which "may be ́asoertained at any of its Agencies and Benches.

A. BREAKLEY,

Manager

Hong Kong, 1st January, 1935.

Job Printing

EASONABLE VYHLES

The Newspaper

Chizik Mail Blaz

Los Angeles

Tokyo

Taingtan

Yingkow

Interest allowed for Current Ac- counts.

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

Hong

L: KANO,

Manager. Kong, 18th November, 1986.

THE

SHANGHAI COMMERCIAL & SAVINGS BANK LISTED-

(Incorporated in, China)

Capit

St

$1116

her