1937-05-17 — Page 17

THE CHINA MAIL, MAY 17, 1937.

DUCE TO CONTROL SHIPBUILDING

All Big Companies Nationalised

All Italian shipyard · firms, with a capital of $1,000,000 or more are de- clared nationaliged by a decree law. This is a development of the nation- alisation principles - announced-by the Duce in March, 1936.

A minimum of 50 per cent of their capital is to be taken over by the In- stitution for Industrial Reconstruction, which will hold It until December, 1942. This institution was founded in 1988 for long-term financing and to take over assets and liabilities 黯S well as to liquidate insolvent indus- tries or those which Signor Mussolint considers to be unnecessary,

Present boards of directors of ship- and building firms will be dissolved, new boards nominated by decree, while shares will be deposited in the Bank of Italy. So long as the institu- tion controls the shares the other shareholders may elect only two mem- bers of the Board to act as observers.

Provisional boards will be elected by the institution and by the Government to hold office until such time as the old shipbuilding companies have been reconstructed on the new ́lines.

Shareholders' Option Present shareholders will be paid off on the basis of average market prices between October, 1996 and 1987. They will have the option of converting not more than 50 per cent. of their old stock into shares of the new State- controlled company,

UNFAVOURABLE TRADE IN JAPAN

Mainly due to sharply swell- ing imports of raw-cotton at the beginning of the year, it is expected that Japan's" unfav. ourable trade balance for the first half of the year will be in the neighbourhood of £25,000,- 000, compared with $18,500,000 for the same period last year.

Japan's total trade shows a steady growth, exports for the first quarter increasing ́ 23 per. cent. and imports 32 per cent. compared with the correspond- ́. ing period in 1936.

BRITISH ENGINES

PREFERRED

Britain's Lead In Oil Engine Production

Next Westminster Bus

Company, Vancouver, are to replace the petrol engines in their American-built bases by British oil engines, and have placed 'an order with a Láncashire firm for direct-in- ten 8.6-litre oil engines of jection type.

An interesting comparison

BANKS

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

Incorporated by Boyal Charter, 1858.

HEAD OFFICE: LONDON

Paid-up Capital ... £8,000,000 Reserve Fund

$3,000,000

£3,000,000

Alor Star Amritsar

Reserve Liability of Pro

prietors

Agencies and Branches:

Hallo

Ilangoon

Ipoh

Baigon

Bangkok Batavia

Karachi

Samarang

Blang

Seremban

Bombay Calcutta

Bobe

6bangkai

Kuala Lumpur

Singapore

Canton

Kuching

Cawnpore Cebu

Madras

Manila

Sitiawan Bourabaya Taiping

Colombo Dalbi Halphong

Medan

New York

Poiping

Hamburg

(Peking)

Tsingtao

Hankow

Penang

Harbin

Yokohama Zamboanga

Hong Tour

(Bhnhét)

Foreign Exchange and General Banking business - transacted:

Current Accounts opened and Fixed Deposits received for one year or shorter periods at ratos which will be quoted on application.

The Bank's Head Ofos in London undertakes Executor and Trustee business, and claims THOOTHLY ef British Income Tax overpaid, On terms which may be ascertained at any of its Agencies and Branches.

R. W. ROBERTS,

Manager. Hong Kong, 1st January, 1935.

$10,000,000.00 $5,598,600.00

and Undivided

$ 2,776,726.76

of oil- The decree law names the following engine production in the U.S.A. and THE BANK OF EAST ASIA, LTD. Great Britain is provided by a recent companies as having passed under State control.

article in an American weekly trade Ansaldo, headquarters

American manufacturers built Authorised Capital at Genoa, paper,

Paid-up Capital 1,153 oil engines during 1935 for use capital about £1,500,000;

Odero-Terni-Orlando, shipbuilding

in tractors, aircraft and railway diesel-Reserve

Profits electric units. This number, which is and armaments firm, of Genoa, paid the aggregate output of twelve com- up capital slightly over £1,339,000;

United Shipyards of the Adriatic, of panies, is very small compared with Trieste, capital about £1,000,000.

the output of some British manufac- The Italian Government not only turers. For instance, during this per- fod the firm mentioned above, with a from gains considerably

z political point of view, but also economically production of 2,273 oil engines, alone by being able to control the output built nearly twice the American total. of shipbuilding. The profits of these

The firm is Leyland Motors, Ltd., of big firms have increased considerably

Leyland, Lancashire. within the past year.

The gain was due to a general rise in freight rates and also to world trade revival. The shareholders who are expected to give up their shares will be consoled by a 25 per cent. bonus.

THE ANSWER

Can You Solve This?

See Page 11

carry a

The parcel contained, a carrier pigeon. Only a carrier pigeon could be used at midnight to package to the kidnappers of the baby without very great danger of detection by the police.

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-

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

Hon. Sir Shou-son Chow,

BOARD OF DIRECTORS:-

Chairman; Li Koon Chun, Eaq. Brok, Tong, F., “Chan" "Ching Shel, Esq., Li Lan Sang, Esq. Wong Chu Son, Esq. and Kan Ying Fo, "Esq., Fang Ping Wab, Eng.

Amoy

Kan Tung-Po; Esq., Chial Manager. Li Tre Fong, Esq., Manager.

BRANCHES AND AGENCIES1—

Bataria

Bombay

Calcutta Canton HaiphongTM Hankow Honolulu. Kobe Kowloon London

Singapors

Manila Melbourne

Seattle

Semarang

Shanghai

New York

Deakn

Sourabaya

Paris

Swatow

Pelping

Tenang

Bydney Talbaku

Rangoon

Tientsin

*Saizon

Ickyo Vancouver

San Francisco

*

Tokohama

Υπο

· Every description of Banking” and Exchange business transacted. – Loans granted on approved securition.

Current Account opened in Local Currency and Fixed Deposits received for One year or shorter periods in Local and Foreign Currencies on term which will be quoted on application.

Safe Deposit Boxes To Lot:

KAN TUNG PO,

Chief Manager..

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 WELDING, BOTH ELECTRICAL AND OXY-ACETYLENE, SKILFULLY AND

PROMPTLY CARRIED OUT

NSHIP ENGINE AND BOILER REPAIRS AND EXTENSIVE

Tel. Address : «Taikoodock," Hong Kong. Telephone No. 30211. “

Call Flag: “Numeral One,” over “Pennant Anns,”

BUTTERFIELD & SWIRE, Agents

· Page '17

BANKS

HONG KONG AND SHANGHAI

- BANKING CORPORATION

Authorised Capital

0,000,000

Issued and Fully-Rald-mns. 20,000,000. Reserve Funds:-

£ 6,600,000

Sterling

Hong Kong Currency

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

prietors

220,000,000

HEAD OFFICE: HONG KONG."

BOARD OF DIRECTORS. G. Miskin, Esq.,

Chairman.

Hon. Mr. M. T. Johnson,

Deputy Chairman.

J. K. Bousfeld, Esq.,

A. H. Compton, Esq.. 3. H. Dodwall, Eng.. J. R. Mason, Esq.,

AMOY

K. 8. Morrison, Esq.,

Hon. Mr. J. J. Paterson, T. E. Pearos, Esq.,

A. L. Shields, Esq.,

Sir V. M. Grayburn, Chief Manager.

BANGKOK

BATAVIA BOMBAY CALCUTTA CANTON CHEFOO COLOMBO DAIREN FOOCHOW HAIPHONGE HAMBURG. HANKOW HARBIN HONGKEW ILOILO

ГРОН ЗОНОВЕ

KOBE

HOWLOON

BRANCHES :-

KUALA LUMPUR

ཇཱ་

LONDON LYONS MALACOA MANILA

MUAR (Johor); . MUKDEN

NEW YORK FEIPING PENANG BANGOON SAIGON

SAN FRANCISCO SHANGHAI SINGAPORE -SOURABATA

SUNGE PATANI TIENTSIN

TOKYO TSINGTAD

YOKOHAMA

Current Accounts opened-in Local Quirma y-and Fixed Deposits received for one year or shorter perioda in Local Currency, and Bterling on armis which will be quoted, on application.

A180 up to date BARE DEPOSIT BOXES in various sizza" TO LET

Hong Kong, lat March, 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 KONG BANKING CORPORATION.

AND SHANGHAI

V. M. GRAYBURN,

Chial Manager,'

Hong Kong, at 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

Branches and Agencies at

Alexandria

Bangkok

Batavia

Berlin

Bombay

Calcutta

Canton

Hankow

Moji

Nagasaki

Nagoya

New York Osaka

Dearn

Dairen (Dainy)

Fengtien (Mukder)

Hamburg

Harbin

Hong Kong

Paris Peiping Rangoon

Rio de Janeir San Francisc Seattle

Semarang Shanghai

Singapore

Sourabaya

Sydney

Tientsin

Tokyo

Honolulu

Hsinking

Karachi

Kobe

London

Manila

Los Angeles

Tsingtau

Yingkow

Interest allowed for Current counts.

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

Hong Kong, 10th March, 1987.

THE

..

Y. KANO,

Manager.

SHANGHAI COMMERCIAL &

SAVINGS BANK LIMITED

(Incorporated in China)

Capital paid up

Reserves

$5,000,000,

$7,500,000.

Capital Sayings Dept. $500,000. Reserve Savings Dept. $600,000. Head-Office-Shangkai

A Bank having as its mission the industrial development on China, and the fostering of her commercial relationa abroad. Hong Kong Office

6, Queen's Road, Central. Phone 81116.