1937-02-26 — Page 17

THE CHINA MAIL, FEBRUARY 26, 1937.

TOKYO MAINTAINS NEW YORK SHARE

EXCHANGE

Gold Shipments To Be Resumed

Japan will soon resume shipping gold bullion abroad to maintain yen exchange at the managed rate of Is 2d

This was indicated by Mr. T. Yuki, Finance Minister, in reply to a question by Mr. S. Nakano, leader of the ultra reactionary Tohokai, in the Lower House of the Diet.

Such shipments, the Finance Minister said, would not jeopardize the nation's bullion reserves, which to-day amount to Y.555,275,000 gold Gold shipments were suspended since December, 31, when Japan

abandoned the yellow metal after a brief return to the gold bloc.

MARKET

Messrs. White, Weld & Company, New York Correspondents for Messrs. S. E. Lety & Company, report:

Stocks: The "Journal of Com- merce" says that the present ten- dency on the market is to try and the anticipate labour demands in various industries and, with the wage increase in the steel industry, there is a feeling that the outcome for steel will be of real significance for the future of industry in gen- eral.

The present weakness of building shares is attributed to labour fears,

In view of the imminence of the

usual increase in motoring for the Spring, the present increase in gasoline stocks is not regarded as

excessive.

There have been no new develop. ments in rails.

In the industrial section, the pro- spects of excellent Spring buying continue to justify purchases of Montgomery Ward.

BANKS

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

Incorporated by Boyal Charter, :3955.

HEAD OFFICE: LONDON

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION «

Capital

*$50,000,000 -Paid-up.. 20,000,000

Sterling

Paid-up Capital

£8,000,000

“Hong Kong Currency"

Reserve Fund

£9,000,000

Reserve

Reserve Liability of Pro-

prietors

3,000,000

6,500,000

$10,000,000 ~Reserve Liability of Pro-

prietors

0,000,000

Agencies and Branches:

Alor Star Amritsar Bangkok Batavia Bombay

Iloilo poh

Rangoon

Saigon

Karachi

Samarang

Kang Kobe

Seramben

Shanghai

Calcutta

Kuala Lumpur - Singapore

Kuching

Sitiswan

Madras

Manila.

A. E. Compsom, Daq..

Medan

New York

Tongkah

M. T. Johnson, Esq.,

Peiping

(Bruket)

(Poking)

Tsingso

Penang

Tokobama

Zamboanga

Caston .Cavapors -Leba

• Cole-bo

ishong iburg-

Hong Kong,

Fichange and General Banking business Current Accounts opened and Fixed Deposits received for one year or pharter") perioda et.zatos which

will be quoted an application

The Bank's Head Offos in London undertakes Foxecuter and Trustee business, and claines TACOTSTY of "British Income Tax overpaid, on betung" "which" may be ascertained at any of its Agencies and Branches.

A. BREARLEY,

The shipment of the metal has} been advocated by experts of the Finance Ministry, the Bank of Japan and the Yokohama Specie Bank, who, since November, have been discussing means to maintain

We continue to like the outlook the ven at its present level. This för Anaconda Copper, despite the course was advised as

a measure disappointment in some quarters whereby the depleted foreign cur-with regard to the dividend. The rency reserves of the Yokohama recent rise in the price of base me- Specie Bank can be replenished iso tals has also increased the attrac- THE BANK OF EAST ASIA, LTD. as to strengthen the position of the tiveness of Howe Sound and

yen.

Government to Profit

we

look for the continuance of the leadership of metals in a selective market. Business done:-2,230,000

In addition to this benefit, the Government will profit by the dif- shares. ference between the Bank of

This

Wheat: There was some selling Japan's price for newly-mined gold to-day on a forecast of rains and and the sales price abroad.

snow in parts of the South-West. margin, however, will be narrowed We would buy now at around the in future because of the necessity present levels. Business done: of the Bank of Japan to raise its 22,611,000 bushels. purchasing-price so as . stimulate

Cotton: Conditions on the raw mining at home, in the view of cotton market continue to be quiet experts.

and uncertain, but the textile mills still have on hands a large volume of unfilled orders.

Precautions will also have to be -taken to prevent the yen from ris ing too high, as this would affect Japan's export trade adversely.

Rubber: March tenders were well absorbed, while good foreign buying Exchange banking circles wel- of actuals and futures has also been comed Mr. Yuki's intimation on the reported. grounds that the announcement

alone would tend to strengthen the Hirota Cabinet and the partial yen.

abandonment of the colossal budget Japanese currency has shown a drafted by Dr. E. Baba, Minister of firm tone since the fall of the Finance.

THE

AMERICAN EXPRESS COMPANY

INC.

Incorporated with Limited Liability in USA.

REICHMARK TRAVELLERS

CHEQUES

ON SALE AT

AÐVANTAGEOUS RATES

Office:

No. 4, Des Voeux Road

Central

Manager. Hong Kong, 1st January, 1985.

Authorised Capital Paid-up Capital

$10,000,000.00 $ 5,508,600.00 Eeserve and Undivided Profits $ 2,685,995.52

HEAD_OFFICE:—HONG. KONG.-

10, D Vaur Road, Central.

BOARD OF DIRECTORS:-

Hom. Sir Shon-son Chow, 'Chairman; Li Econ Chan, Esq., K. Kwok Eng. Woor Van Tong, Eng., Chan Ching Shek, Esq., Li Lan Sang, Eng., Wong Chu Son, Esq. and Kan Ting Pa, Esq.

Kan Tang Po, Esq., Chief Manager. Li The Fong Faq --Kanaraz.

BRANCHES AND AGENCIES:

Sestie Matbourne

Abbay

Bataris

Bombay

Calmatia

Carson

Haiphong

Robe Kowloon -Lossloa

Vancouver Tesche.s

Every description, of Banking and Exchange

· kussiness » transacted. Loans granted on: approved securities.

Current Accounts - opened" in "Local Currency "and" Fixed – Deposits" received; for, ona

shurter periods in Local and Foreign Currencies

on terms which will be quoted an application.

Safe 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 Exchange and every "des- cription of banking business transact

ed

Current Accounts and Savings Ac- counts opened Mixed Deposits re- ceived at rates which will be quoted on application.

Trusteeship & Executorship under- taken. Safe Deposit Boxes, for hire.

PHILIP GOCKCHIN, Chief Manager.

-STAMPS OF THE MOMENT

KING EDWARD VIII

issued only for Great Britain and Morocco Agencies We have mint sets

FOR SALE

GRACA & CO. Dealers in Postage Stamps.

Garden Seed

510 Wyndsz

HEAD OFFICE: HONG KONG.

-BOARD OF DIRECTORS. Hon. Mr. J. J. Paterson.

Chairman.

G. Miskin, Esq;

Deputy Chairman

J. E. Boosheid, Faq....

Hon-MESH Dodwell,

AMOY

BANGKOK BATAVIA BOMBAI

CALCUTTA

COLOMBO DAIREN "FOOCHOW

BATPHONG HAMBURG

- HANKOW

HARBIN

HONGKEW ELGIEO

IPOH

JOHORE

KUALA LUMPUR

નવાનું

LONDON LYONS XCALACCA MANILA MUKE (Johore)

MUKDEN NEW YORK

FELPING

PELANG BANGOON

SAIGON

-SAN FRANCISCO SHANGHAI SINGAPORE SOURABAYA “SUNGEI PATIENT

TIENTSEN TOKYO

TSINGTAO ТОКОНЕМА

Cureat Locoonta opened in Icai-Currency and Fixed Deposits received for "one year or shorter periods in Local Company and Sterling on terms which will be goosed on sapplication.

ALSO up to date SAFE DEPOSIT BOXES In various sizes TO LET.

Hong Kong, 24th February, 1936.

HONG KONG SAVINGS BANK

-The-Business, of the Abors Bank.is.amincted. by the HONG KONG AND SHANGHAI BANK- ING CORPORATION. Bales may be obtained on application.

FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.

V. M. GRAYBIEN.

Chief, Manager.

Bong Kong, 24th February, 1985.

THE YOKOHAMA SPECIE BANK LIMITED

Established 1880

Capital (fully paid-up) Yen.109,000,000 Reserve Fund

Yes 130,900,000

Head Office: YOKOHAMA

Branches and Agencies at

Alexandria Bangkok Batavia

Bertin Bombay

Calcutta

Canton

Dairen (Day)

Fengthen (Mukden)

Hamburg Hankow

Harbin Hong Kong Honolulu

Hsinking Karachi Kobe London

Manila

Los Angeles

Moji

Nagasaki

Nagoya New York Osaka

Paris

Peiping

Rangoon

Rio de Jensiro San Francisco

Seattle.

Semarang

Shanghai

Singapore

Sourabaya

Sydney

"Tieritzia

Tokyo Tsingtau

Yingkow

Interest allowed for Current Ao counts.

Deposits received for fixed periode at rates to be obtained on, appl tions.

"Y. KANO,"

Manager

Hong Kong, 13th November,

THE

SHANGHAT COMMERCIAL &

SAVINGS BANK LIMITED

(Incorporated in

Capital paid up Reserves

Capital · Savings Dept.

000.

,000.