1937-04-09 — Page 17

THE CHINA MAIL, APRIL 9, 1937

FOREIGN COM INVESTMENTS IN US.

President Roosevelt's chief financial advisers met in Washington for the first of a series of conferences at which # programme will be evolved to-con- trol foreign investments in the United States. These are now estimated at £1,500,000,000.-

These investments and the continued inflow of gold have been a source of anxiety to the Administration for some months past.

Fears have been expressed that, un- less appropriate steps are taken, the country's credit system will be in dan ger of being severely shaken if sudden and wholesale withdrawals of capital are provoked by a crisis in Europe.

FAMOUS STEEL

• WORKS

Reopened To Meet Pig Iron Shortage

Keen-Baldwins Iron and Steel Co. Ltd., Plans have been made by Guest- in conjunction with the British Iron and Steel Federation, to help relieve the shortage of pig iron, particularly in South Wales.""

Work will be blast furnaces Tydfil

gun at one of the old at Dowlais, Merthyr

said to be a temporary measure.

In an official statement the scheme is The statement continues:

"Work will be started at Dowlais at once on mechanical repairs and adjust- material can be obtained, to manufac ments. It is hoped, provided raw ture pig iron by the summer of this

HE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

1- by Royal› Charter,

HEAD OFFICE: LONDON

Reserve Fund. Paid-up Capital Reserve Liability priétórs ** **

Alor Star Amritsar

Bangkok Batavis Bombay Calcutta Canton Cawnpore Cebu Colombo Delhi Haiphong Hamburg Bankow Harbin

Hong Kong

£3,000,000 000,000

000

encies and Branches:

Fobe

Follo

Ipoh

Kängoon Bagon

Karaoki

Klang

Saramban Shanghai

Kuala Lumpur

Nila

Talping

Modan

*Tientaln

New York

Todekab

Peiping

(Bhukat)

(Faking) Penang

Tsingtao

Yokohama

Zamboanga

The meeting to consider plans for the control of foreign investments took place at the Treasury, and was attend- year." ed by Mr. Henry Morgenthau, Secretary The Dowlais iron and steel works of the Treasury, Mr. Marriner Eccles, are to-day a mere shell of the immense Chairman

of the Federal Reserve industry which in 172 years made mil-tranacted.

Foreign Exchange and General Banking business Board, and Mr. James Landis, Chair- lions for its owners and employed thou-received for one year or shorter periods at ratos man of the Securities and Exchange sands of people, and whose products which will be quoted on application.

Current Accounts opened and Fixed Deposita Commission. It followed weeks careful study by Government experts.

of became world famous. Tax May Be Doubled. No details regarding the proposals under consideration were although in some quarters it was sug

revealed, gested that the present tax of 10 per cent, on dividends paid to foreign in- vestors might be doubled to curb such

investments.

First Steel Licence

021

The Back Rand Oños in London undertakes Executor

and Trustes business, and claims recoTury

British Income Tax overpaid, terms which may, be becerialised Pat any of its Agencies and Franchos.

*

*.

A. BREAKLEY,

Manager.

Hong Kong, 1st January, 1985.

Iron and coal were known to exist that the first attempt at iron making there in 1747, but it was not until 1758 was made. Two years later, the name Guest, which was to guide the destiny of this great industry first appeared Mr. Francis Clarvan, President of Josiah John Guest the

at Dowlais, and under the direction of the Clerical Foundation, said that Bri-tremendous progress. In 1845 18 blast "tain could undermine

works made THE BANK OF EAST ASIA, LTD. the American securities market by ordering the iron weekly, and in that year, it was furnaces were producing 1,600 tons of liquidation of American stocks held by stimated, the output of miners and Paid-up Capital

Authorised Capital $10,000,000,00 'British subjects. He revealed that 20 colliers was 80,000 tons of ironstone Reserve and Undivided

.$ 5,598,600.00. per cent. of shares on the American and 140,000 tons of coal. Occupying market were held by British subjects.40 acres the works employed 7,300.-

© 2,776,726.76 Panic would break out if these holdings were dumped on the market.

the

Profits

HEAD OFFICE: HONG KONG. 10, Des Voeux Road. Central.

BOARD OF DIRECTORS :—

·Li. Koon

The licence to make Bessemer steel Mr. Morgenthau stated after

there was granted in' 1886, the works meeting that he personally opposed any obtain such a licence. Ownership pass- being one of the first in the country to form of control as a solution of the problem to prevent foreign investments and Nettlefolds, to be merged 30 years chun, Esq., RE

ed under the control of Guest, Keen Hon. Bir Shou-son Chow Chairman; from getting out of hand, but he thought that some

form of control later in Guest, Keen and Baldwin.

Tong, Eng. would be agreed on at subsequent meet-

Chan Obing Shek, Wong Yun Sang, Eng. Wong Chn Bon, Eaq. and Kan Ying inga.

Po, Esq.

LOCAL DOLLAR

London Silver Prices

The dollar opened on demand this morning, at 1/2-27/82.

"Spot" silver was quoted at 21 and "forward,” at 21-1/16. ·

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 ceived at rates which will be quoted counts opened Mixed Deposita re-

on application.

Trusteeship & Executorship under-

Safe Deposit Boxes for hire. PHILIP GOCKCHIN, Chief Manager.

The London on New York cross- rate was quoted at £-U.S.$4.8925 | taken. and the New York on London cross- rate at 4.89%-

Amoy

Kan Tung Po, Eig., Chlef Manigor. Li Tre Fong, Esq, Manager.

BRANCHES-AND" "AGENCIES :—

Manila

› Melbourne

„Nagasaki

-Now York

Osaka

Batavis Bombay "Calcutta

Canton

Haiphong

Hankow Hopolatu

Rangoon

Kowloon London

Salzon

Ban Francisco

Peiping

*Beattle

Simerani

Sydney

Paiholu. Tientaln Tckyo

TabooUTE!

Torohams

basis transacted. Loabe granted on approved Every description of Banking and Exchange

Bourities.

Current Accounta

opened In Local Currency and Fixed Deposita recaived" for Vone : year... DE shorter periods. lui Local and Foreign Currencies on terms which will be quoted on application.

Safe Deposit Boxes To Let.

KAN TUNGTM PO.

THE TAIKOO-DOCKYARD & ENGINEERING COMPANY

OF HONG KONG, LIMITED

BUILDERS OF ALL CLASSES OF SHIPS.

BUILDERS OF RECIPROCATING STEAM ENGINES.

BUILDERS OF MARINE AND LAND BOILERS.

BUILDERS OF TURBINE MACHINERY.

Under License From Messrs. Parsons.

BUILDERS OF DIESEL ENGINES.

Under Special License From Messrs. Sulzer Bros.

Licensed To Manufacture Lanz Perlit Iron, Specially Suitable

For Internal Combustion Engine Working Parts.

DOCK & SLIPWAYS

FOR DOCKING VERY LARGE, AS WELL AS SMALLER VESSELS, ON ANY TIDE

ALL CLASSES OF SHIP ENGINE AND BOILER REPAIRS AND EXTENSIVE WELDING, BOTH ELECTRICAL AND OXY ACETYLENE, SKILFULLY AND

PROMPTLY CARRIED OUT

Tel Address : “Talkoodock,” Hong Kong, Telephone No. 30211.

Call Flag: “Numeral One,

́ennant Anns.

BUTTERFIELD & SWIRE, Agents

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION

uthorised Capital, .az-

$50,000,000

sued and Fully Paid-up.. 20,000,000

erve Funds:

Sterling

Hong Kong Currency

Reserver.

$6,500,000

$10,000,000

$20,000,000

erve fability of Pro-

prietora

HEAD OFFICE: HONG KONG,

BOARD OF DIRECTORS.

G. Miskin, Esq.,

Chairman.

M. T. Johnson, Esq., --- Deputy - Chairman,

J. K. Bousfeld, Esq..

A. H. Compton, Esq.,

K. 8. Morrison, Esq.

Hon, Mr. J. J. Paterson,

Hon, Mr. 8. H. Dodwall, T. E. Pearoa, Esq.

J. B. Masson, Esq-

AMOY

BANGKOK

BATAVIA BOMBAY

CALCUTTA

CANTON CHEFOO COLOMBO DAIREN ROOCHOW

HAIPHONG HAMBURG HANKOW HARBIN "HONGFEW

AS ILOILO ХРОН JOHORE KORE

KOWLOON

A. L. Shialde, Esq.,

M. Grayburn, Esq.,

"Chief Manager,

BRANCHES -

KUALA LUMPUR

LONDON LYONS MALACCA - MANILA MUAR (Joboro) MUEDEN NEW YORK FELPING PENANG S BANGOON SAIGON SAN FRANCISCO SHANGHAI SINGAPORE SOURABALA SUNGEL PATANI TENTSIN TOKYO USINGTAO УОКОНАМА

Current Accounts opened in Local Carrancy and

·Fixed Deposita received for one year or shorter periods in Loont Curranty and Sterling on terma which will be quoted on application.

ALSO up to date BAFE DEPOSIT BOXES in various Lifes TO LEN

Hong Kong, 116 Marok, 1987.

HONG KONG SAVINGS BANK

The Business of the above Bank is conducted by the HONG KONG AND SHANGHAI BANK ING CORFORATION. Bules may be obtained on application.

FOR THE HONG HONG AND SHANGHAI -BANKING CORPORATION..

7 M. GRAYBURN

Chief-Manager,

Hong Kong, 1st March, 1987.

THE YOKOHAMA SPECIE BANK LIMITED

Established, 1880

Capital (fully paid-up) Yen.100,000,000 Reserve Fund

Yen.132,650,000

Head Office: YOKOHAMA

Brauches and Agencies at

Alexandria

Bangkok Batavia

Berlin

Bombay

Calcutta

* Cantón

Dairen (Dainy)

Fengtien (Mukden) Hamburg

Hankow

Harbin

Hong Kong Honolulu

Hsinking

Karachi

Kobe

London

Manila

Los Angeles

Moji

Nagasaki

Nagoya

New York Osaka

Ourn Paris Peiping Rangoon

Rio de Janeiro San Francisco Seattle

Semarang Shanghai

Singapore ©:Sourabaya

Sydney

Tientala

Tokyo

Tsingtau

Yingkow

-Interest allowed for Current As counts.

Deposits received for fixed periods at rates be obtained on applicn

T. KANO,

Manager.

ong Kong, 10th March, 1937.

THE

“SHANGHAI COMMERCIAL &

SAVINGS BANK LIMITED

(Incorporated in China)

Capital paid up. Pliva Reserves

Capital Savings Dept. Reserve Savings Dept. ME HET OMR AWA Bank! having rai the industrialo devel China and the commercial:

7000,000.

500,000.

500,000: $800,00€.

rond.

Phone 31116.

shtra 1.