1937-06-01 — Page 17

THE CHINA MAIL, JUNE 1, 1937.

DEVELOPMENT WORK AT

IN CHINA

MR. D. G. M. BERNARD'S SPEECH

AT LONDON MEETING

:'

National

BANKS

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

Incorporated by: Royal Charter, 1855.7

HEAD OFFICE: LONDÖV Paid-up Capital Reserve Fund..

BANKS

HONG KONG) AND SHANGHAI BANKING CORPORATION

Authorised Capital

$50,000,000

000

Issued artd Fully-Paid-ups. 20) Reserve Funds :-----

Reserve.

HEAD OFFICE: HONG KONG.

BOARD OF DIRECTORS.

Sterling

6,500,000

£8,000,000 £5,000,000

Hong Kong Currency

$10,000,000

Reserve Liability of Pro-

prietors ...

Reserve Liability of Pro-

$8,000,000

prietors

$20,000,000

:

Agencies and Branches:

Alor Star

Amritsar

Saigon

Bangkok

Samarang

Seremban

Bombay

Calcutta

Canton

Kuala Lumpur Kuching

Cawnpore

Madras

Sings pone Bitiawan Bourabaya

Dətra

Colombo

Medan

New York

Peiping

Tongkab

(Bhuket)

A. H. Compton, Eng., 8. H. Dodwell, Esq. J. B. Masson, Esq.,

(Faking)

Taingimo

Penang

Yokohama

Zamboanga

Batavia

Delhi Haiphong Hamburg Hankow Harbin Hoan Trong.

Hoito- Ipoh Karwohl Klang

Fobe

Authorised Capital Paid-up Capital Reserve

Profits

Shanghai

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

and Undivided

.$ 2,776,726.76

At the thirty-ninth ordinary I referred last year to the con- general meeting of the British and,fidence we felt in the new Minister Chinese Corporation, Ltd., Mr. of Railways, Mr. Chang Kia-ngau D. G. M... Bernard (chairman and our sanguine expectations have of the Corporation) alluded to the been amply fulfilled by the results businesslike and large and important delegation sent of his energetic from China to assist at the Corona-control of his Ministry and the per- tion ceremonial. They are, he said, [sonal attention he has given to the welcome guests in England. Includ-financial condition of the ed in the delegation were Dr. H. H. railway.

The Future Kung, the Minister of Finance, and Mr. T. K. Tseng, Vice-Minister of The finance of overseas enter- Railways, and, while they are here, prise is confronted with many diffi- your board hopes that opportunities culties, and railway development in will arise for conversations bearing China has more than its share. on the Corporation's work in China. There is, in the first place, what is Foreign Exchange and General Banking business

transacted. Such intimate talks cannot fail to known as the "Treasury. ban," which Current Accounts opened and Fixed Deposita received for one year, or shorter periods at "fates be productive of the best results. prohibits free lending on pre-war which will be quoted on application.

The Bank's Head Office in London, undertakes The past year has been the most lines. Secondly, we have our inter- Exsoutor and Trustee

business, and claima useful and most hopeful for the in-national obligations to consider, by y d British Income Tax overpaid, on terms which may be ascertained at any of its dustries and trade of China since which I mean the obligations im-Agencies and Branches. the check due to the Great War.posed upon us by the Washington

R. W. ROBERTS,

Manager. Chinese public men, not only, states-Treaty and the Consortium Agree-

Hong Kong, 1st January, 1935. men but merchants and bankers as ment of 1921. Thirdly, we have well, taught by sad experience the the cloud of political unrest, which virtue and the necessity of self-is not confined to Central Europe THE BANK OF EAST ASIA, LTD. reliance, have at long last address-but has a focus of its own in the ed themselves to the task of setting Far East. their house in order with praise- These formidable obstacles stand worthy energy, and with a measure in the way, but no one of them is of success which affords grounds for insuperable. We do not propose to encouragement.

rush our fences, but we believe that [by patient negotiation

HEAD OFFICE :—HONG KONG. we shall Chinese Railways Loan Credit

10, Dow Voor Boud, Central. shortly be able to evercome them. In the sphere which is of most

Not even the most cursory sur-

BOARD OF DIRECTORS :-- interest to our Coronation--railway

of affair and prospects vey

Chow, Chairman; Li in Hon. Sir Shou-son developmet and finance

Chun, Fag., P. E. Kyrok, Baqin Wong Yun we have

China is possible without reference Fong Wong Chu Lon, Esq. and Fan Fing had the satisfaction of seeing a gen-to her relations with foreige coun-Fo,

Eag. Esq. Fung Ping Wah, Esq. eral clearing up of loans in default. tries, for in no place in the world The terms of composition are doubtedly very favourable to China, interwoven.

are business and politics so closely and Great Powers but the bondholders were probably lesser Powers all see in China a well advised to accept them in view free market for their goods ́ and of the unanimous recommendations services, and a vast field from which Canton of committees representing holders

to obtain the in the capitals of Europe and which they stand so much in need. America, including, I believe, also All, therefore, are candidates those of Japan. The resumption of China's good service payments on Chinese rail- Japan. way loans generally may be regard-

Sino-Japanese Relations ed as a satisfactory result of the various loan settlements to which I

During the past. year there have have referred.. A further effect of

been various moves in the direction of a better understanding between these settlements has been to re- establish the credit of China at a China and Japan. Only last month T these two great Asiatic Powers, point where she may once again read in a reliable semi-official per- hope to borrow on reasonable terms, iodical, under the heading "China," and Dr. Kung, Minister of Finance, that the Japanese Trade Mission in who gave his invaluable support,

· Head Office: Hong Kong. 26, Deg-Voeux Road, Central and Mr. Chang Kia-ngau are to be Shanghai was told by the Chinese authorities that there was no pros- congratulated on the satisfactory

Authorised Capital $10,000,000 pect of economic co-operation- until ți- issues of the negotiations.

· LONDON BANKERS:- the Japanese policy in North China

Westminster Bank, Ltd. was changed, and, under the head-- Foreign Exchange and every des- ing of "Japan," that the Japanese cription of banking business transact- The Minister of Railway is fac- Foreign Minister had said that his Current Accounts and Savings Ac ed with a large programme of rail-policy towards China aimed at counts opened. Mixed Deposits re- way construction, and it seems his economic and cultural co-operation ceived at rates which will be quoted principal difficulty is to know where before taking up political negotia-on application. he can best make a start. He has tions.

Ministry Of Railways

un

}

raw

· materials

Kan Tung Po, Esq., Chief Manager. Lá The Fong,- Eag., Manager.

BRANCHES AND AGENCIES:-

Amoy Batavia Bombay Calcutta-

Manila Melbourne: Nagmanki

New York

Usala

Seattle Semarang Shanghai Singapore Suurabaya

of

Haiphong

Paris

Bastow

Hankow Honatulir Kobe

Paiping

Bydney.

Feuang

Tsibokm

Bangoon

Tientsio

for

Kowloon Londen

Salzon

Tekyo

Bar Francisco

VanDORTM

Yokohama

will, not excepting

before him plans, not perhaps as The world at large, anxious only far-reaching as those laid down by for peace, may almost be said to be Sun Yat-sen in 1912, but upon a indifferent whether a political agree- more practical and, it may be hop-ment is reached before an economic ed, wore profitable basis. We or after. If I may venture to give ourselves are in touch with him at a lead in this matter, I should say many points; and I think you may Stand' not upon the order of your rest assured that when railway settling, but settle! work starts in China in earnest our Corporation will play its appro- priate part.

:

LIBERALS AND BEWDLEY

The Chinese public is gradually The Bewdley Division Liberal' As- becoming; "train-minded," and the gociation is to select a candidate to increasing tendency to travel by contest the by-election caused by railway is shown from the figures of Mr. Baldwin's retirement, the numbers' carried. The number "Headquarters in London are 'an- of passengers carried on the Chin-xious that the seat should ese National Railways

total of over: 45,000,00eached

Koon

Ian

Every description of Banking and Frobangs business transacted. Loans granted an approved

securities."

Current Accounts opened in Local Currency and Fixed Deposite reosived" for shorter periods in Local and Foreign Currencies on terms which will be quoted an "application.

Safe Deposit Boxes To Let

KAN TUNG PO,

Chief Manager.

ed.

THE WING ON BANK, LTD.

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

PHILIP GOCKCHIN; Chief Manager.

HONG KONG HEIGHTS"

the following list of some

For the information of visitors of the Highest points on the Island Mainland is published:-

Mt. Parker", ku

and

G. Miskin, Esq.,

Chairman

Hon. Mr. M. T. Johnson,

Deputy Chairman.

J. K. Bousfield, Esq.,

K 8. Morrison, Requ Hon. Mr. J. J. Pater T. E. Paares, Esq., A. L. Shields, illeq..

Sir Vandeleur M. Grayburn,

Chiet Manager

AMOY

BANGKOK BATAVIA BOMBAY CALCUTTA CANTON CHEFOO

COLOMBO DAIREN

FOOCHOW HAIPHONG HAMBURG HANKOW HARBIN

HONGKEW ILOILO IPOH

JOHORE

KOBE

KOWLOON

BRANCHES :-

KUALA LUMPUR

LONDON

LYONS MALACCA MANILA.. MUAR (Jabore) MUKDEN

BANGOON BAIGON

SAN FRANCISCO. SHANGHAI SINGAPORE BOURABATMÁ SUNGRI PATANI TIENTSIN TOKYO TSINGTAO

YOKOHAMA

Current Accounts opened in Local Currency and Fixed Deposite received for one year or shorter periods in Local Ourrency and Sterling; cm (bazina which will be quoted on application.

ALBO up to date_SAFE DEPOSIT BOXES in Various sizes TO LET.

Hong Kong, lat March, 1987.

HONG KONG SAVINGS BANK

The Business of the abora Bank is conducte by the HONG KONG AND SHANGHAI BANK ING CORFORATION. Bules may be obtainad

ca_application.

FOR THE HONG KONG AND SHANGHAI BANKING. CORPORATION.

M. GRAYBURN,

Chief Manang:

Hong Kong, dat March, 1987.-

THE YOKOHAMA SPECIE BANK

LIMITED

Established 1880

Capital (fully paid-op) Yen.100,000,000

Reserve Fund

Yen 182,650,000

Head Office: YOKOHAMA

Branches and Agencies

Alexandria -

·Mojis:

Nagasaki

Bangkok

Batavia Berlin Bombay Calcutta Canton

Dairen (Dainy) Fengtien (Mukden)

Hamburg Hankow

Harbin

Hong Kong

Honolulu

Hsinking

Karachi

-Kobe.

London Manila

Los Angeles

Nagoya New York Osaka Otra Paris Peiping

Rangoon

Rio de Jeneira San Francisco Seattle

Semarang Shanghai

Singapore Sourabaya

Sydney Tientsin

Tokyo

Tsingtau Yingkow

I

Interest allowed for Current As- counts,

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

KANO,

Mänarer.

Hong Kong, 10th March; 1987,

THE

SHANGHAI COMMERCIAL &

SAVINGS BANK LIMITED"

(Incorporated in China)

Réserves

ISLAND

Feet

Victoria Peak

1,828

Signal Station

1,774

Ospital paid · up·

1,784

Mountain Lodge

1,725

· 1,725 :

be

Mt. Davis

877

Bowen Road' (filterbeds)

297

·MAINLAND:

Feet

Täimoshan

8,124

Kowloon Peak

1,971

a fought,” said an official last night. 1985, "Two names are being considered."

compared with 39,000,000 in 1925,

The name of Mr. R. J. E. Conant

Conservative candidate.

an increase of 6,000,000, or 15 per has been submitted for adoption as cent., in the 10 years.

The Eyrie

................ 65,000,000, $7,500,000, Capital Savings Dept. $500,000 Reserve Savings Dept.: $600,000,

| Head-OfiesTM Bhangkat A' Bank having, as its mission the industrial development China and the fostering of commercial Tulations abroR Hong Kong: Offen-in (1

6, Queen's Road, Central. Phone 31116.

on