1937-12-04 — Page 17

THE CHINA MAIL, DECEMBER 4,

STEEL PRICES STABILISED FOR A YEAR

IMPORTANT STEP BY PRODUCERS TO END UNCERTAINTY

A step which should give a fur-secured by co-operation with ther stimulus to trade activity in interests involved. Britain has been announced by steel! producers.

BANKS

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

Incorpora

HEAD OFFICE. LONDON

38, Bishopsgate, Paid-up Capital

the Reserve Fund -

Reserve Liability of Proprie

tors

RISE OF 30 PER CENT. During the past 18 months steel Prices of steel, the principal raw prices have risen by approximately material of most of the country's 30 per cent. The first increase was fannounced in May, 1936, and chief industries, are to be stabilised

amounted to 10 per cent, until the end of 1938.1

On May 1 of this year prices of the all main steel products were advanc raw ed, with the approval of the Import Advisory Committee, by ¡Duties

sums ranging from 17 to 25 per cent.

This action has been taken in face of a steady increase in costs of the steel trade's own materials and despite a growing, de- mand for its products.

:

un-

Current prices, which were fixed on May 1, were due to continue un- til December 31.

Thousands of manufacturers will now be safeguarded against expected increases in the cost their material for at least one year, and will be free to fix contracts without fear of loss owing to rising prices

»

of

means

པདྨེ;

This advance in steel prices, how- ever, compared with an increase of 80 per cent. since 1932 in the prices of the main raw materials.

The cost of coke has risen to more than double its 1932 level. Since April of this year, the price has in- creased from £1 11s 6d a ton 11 16s 6d

to

Ore freights are nearly two and

£3,000,000

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION

Authorised Capital

Issued and Fully Pa Reserve Funds:

Sterling:

Hong Kong Currence 6,500

Reserve

£3,000,000. £3,000,000 Reserve Liability of Proprie

tors

Manchester Branch, 71, Mosley Street, Manchester. Agencies and Branches-

Alor Star

clo

Fangoon

Saigon

Samarang

Amritsar

Bangkok

Batavia

Bombay

Hang Koba

·Seremban

Shanghai

Calcutta

*Kuala Lumpur

Canton Cawnpore

ching

Madras

Sourabaya

Cebu

Mamika

Taiping

Colombo

Medam

New York.

Tongkah

2. Paiping

Hamburg Hankow Bachin

(Peking)

Fenang

DENT Loug

F04%

Bouken Tsingtao Jakobama

Zamboanga

Foreign Exchange and General Banking business transacted.

Currant Account opened and Fixed DeposiZE. received for one year or shorter periods at rates

which will be quoted on applicati demakes

claims

010

The Bank's Head 0ños in London

and business, Trustee Executor and recovery of British Income Tax overpaid,

which may be ascertained st. any of ita Agencies and Branches

texts

$20,000,000

-HEAD- OFFICE: HONG KONG.

BOARD OF DIRECTOR

G. Miskin, Esq Chairman.

Hon. Mr. M. T. Johnson,

Deputy Chairman sam

JE. BauxSeld, Esq. A. H. Compico, Esq., S. EL Dodwell, Esq., JB. Masson, Eaque

E. S. Morrison, Esq., Hon. Mr. J. J. Paterson, T. El Pearce, Esq., AL. Shields, Esqui

-Sir Vandeleur M. GraybuCD,

Chief Manager.

AMOY

BATAY

BANGKOK

TTA

MBAT

БОМ

CALCUTT CANT CHEFOO COLOMBO COLO

FOR HONG

R. W. ROBERTS,

Manager.

Hong Kong, 1st January, 19352-

HAMBURG HANKOW HARELY HONGSEW

ILOILO

JOHORE

KORE

COST OF REARMAMENT

a half times higher than they were THE BANK OF EAST ASIA, LTD. $10,000,000.00 In addition, the decision that the main factor in the cost of in 1932, a further increase having Anthorised Capital

Undivided taken place in the last eight months Faid-up Capital the rearmament programme will be unchanged. It is calculated that 20 of 6s a ton.

per cent. of Britain's steel produc tion is being absorbed by the de-

fence contracts.

Among the chief industries which will be affected are:

Motor and Aircraft Manufac-

turers,

Constructional Engineers, Railway Companies, and

*}

CHRISTIAN SCIENCE

SERMON

Subject: God The Only Cause And Creator

The subject of the lesson sermon în all churches of Christ, Scientist to-mor- row, December 5th will be "God the only cause and creator.”

Shipbuilders and Repairers- All these industries are now ab-

The Golden Text will be: "The hea- sorbing as much steel as they can

vens declare the glory of God; and the obtain. The total consumption is firmament sheweth his handywork. approximately 1,000,000 tons of steel There is no speech nor language, where their voice is not heard." (Psalms 19: a month.

1, 3).

+)

-According to reliable estimates,

Among other the following citations this will be read from the Bible. Ther the total steel production in country will reach a record figure spoke Jesus again unto them, saying, I am the light of the world: he that of 13,250,000 tons for this year, followeth me shall not walk in dark- and may rise to 13,750,000 tons in ness, but shall have the light of life. 1938.

DEMAND MAINTAINED. The full announcement, which is published by the British Iron and Steel Federation, is:

me.

The Pharisees therefore said unto him. Thou bearest record of thyself; thy re- cord is not true. Jesus answered and said unto them, Though I bear record of myself, yet my record is true: for I know whence I came, and whither I go: but ye cannot tell whence I come and "Following a decision of the Basic whither I go. Ye judge after the flesh: Pig Iron Producers' Association to I judge no man. And yet if I judge, maintain present prices until June my judgement is true: for I am not alone but I and the Father that sent As- 30, 1938, the following Steel

Then said they unto him, Where sociations, covering the main basic is thy Father? Jesus answered, Ye steel products, have decided, in con-neither know me, nor my Father: if ye formity with a recommendation of had known me, ye should have known my Father also. (John 8: 12-16, 19)- the British Iron and Steel Federa-And call no man your father upon the of earth: for one is your Father, which is tion and with the concurrence

The lesson sermon will also include the Import Duties Advisory Com-in heaven. (Matt. 23: 9).* mittee, to maintain their prices at the following passages from the Chris- the present level until the end of tian Science Textbook, "Science and 1938, subject to the proviso in all Health with Key to the Scriptures" by Mary Baker Eddy: "Jesus acknowledg- sales and contracts that deliveries ed no ties of the Aesh. He said: “Call after December 31, 1938, will be at no man your father upon the earth: for one is your Father, which is in hea- Association prices then ruling.

ven." Again he asked: Who is my mother and who are my brethern," im- plying that it is they who do the will of his Father. We have no record of his calling any man by the name of father. He recognised Spirit, God, as the only creator, and therefore as the Father of all The lines of demarca- tion between immortal man, represent ing Spirit, and mortal man, represent- Stamping the error that life and intelligence are in matter, show the pleasures, and ing Billet.

pains of matter to be myths, and hú- Sheet Bar Associatio

"In spite of recent world disturb man belief in them to be the father of mythology in which matter is repre ances there is no abatement of the sented as divided into intelligent gods. demand for steel products in this Man's genuine selfhood is recognisable

neither self-made nor made by country, and in taking this course only in what is good and true. Man is

The Associations concerned are: Scottish Steel Makers. Midland and Welsh Steel Makers. British Joist Makers.

Soft Basic Billet.

Basic Special Steel Bilet. Free Cutting Steel Billet. Forging, Drop Forging and

als.

and still God created man. In Science man is

the offspring of: Spirit.

in the face of increased increasing costs of raw the iron and steel industry tuated by the desire to the prolongation's of trade activity that sor

The bur

and pure, constitute His origin is not, like that

Abrute

does

Reserve and

Profits

+

$ 5,598,600.00

2,776,726.76

HEAD OFFICE HONG KON

10, Des Tax Road, Canti BOARD OF DIRECTORS:-

Bor. Sir Shou-son Chow, Chairman; I Koon Chum, Esq. P. E. Kwok, Esq. Wong Yun Tong, Esq. Chan Ching Shek, Esq., Li Lan Sung, Esq., Wong Chu Son, Esq. and Box. Yang

Esq. Fang Ring Wah, Esc

2

Amoy Bateria Bombay Cabesta

Kan Tang Po, Esq., Chief Manager Li Tse. Four, Elce, Manager. BRANCHES AND AGENČIES: Seattie

Canton Haiphons

Maxilla Melbou

Shar

New York

Paris

Paiping

Robe Kowloon London

Bangoon

San Francisco

Tokyo Vancouver Yokohams

Every description of Banking and Exchange business transected. Loans granted on approved securities"

Current Accoumia opened in Tool Currency

HOLL

BRANCHES S

KOWLOON KUALA LUMPUR

LONDON LYONS MATACCA MANILA MUAB (Johor MLADEN

NEW YORK

PENANG PANGOON “SAIGON

SAN FRANCISCO

SHANGHAI SINGAPORE SOURABAYA

SUNGFI PATANT TIENTSEN TOKYO

TSINGTAO TOKOHAMA

Current Accounts opened in Local Currency and Fixed Deposite received (for sons "year" or aborter periods in Local Comancy, and Steeling on serma which will be quoted on application.

ALSO up to date SAFE DEPOSIL BOXES various sizes TO LEL

Hong Kong, 1st March, 1987

HONG KONG SAVINGS BANK

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

FOR THE HONG KONG AND SHANGĦAT- BANKING CORFORATION.

:

V. M. GRAYBUEN,

Chief Managaz. Eong Kong, 1st March, 1997

THE YOKOHAMA SPECIE BANK

LIMITED

Established 1880

Yen 134,400,00€

and Fixed Deposits received for one year or Capital (fully paid-up) Yen 100,000,000 shorter periods in Local and Foreign Currencies Reserve Fund on terms which will be quoted on application.-

Safe Deposit Boxes To Let -

KAN TUNG PO,

BANKS

Chief Manager.

THE MERCANTILE BANK OF INDIA, LTD.

HEAD OFFICE:

15, Gracechurch Street, London,

Authorised Capital. Subscribed Capital Paid-up Capital Reserve Fund & Rest

BANKERS:

Head Office: YOKOHAMA

Branches and Agencies at

Alexandria

Bangkok Batavia

Berlin

Bombay

Calcutta

Canton

Dairen (Dainy) Fengtien (Mukden)

ECA £3,000,000 Hamburg 1,800,000 Hankow 1,050,000 Harbin 1247,830 Hong Kong

The Bank of England & Midland Bank, Ltd. BRANCHES:

Bangkok Bombay Caloutta Colombe

Galle

Delhi Hong Kong.

Ipah

Kandy

Kota Bhaza

Kuala Lumpur Kaala Trenggami

New York Fezang Port Louis

(Maurikitis)

Rangoon Shanghai

Simila Kuantan (Phang) Singapors Madras

HONG KONG BRANCH. Brary description of Banking and business transacted.

Travellers Chaques

Trustee and Ensentorships undertaken. INTEREST allowed, on Current Astounde" and Fixed Deponis **. Bates that may be ascerta on application.

-D. BENSON,

Cussen & Boad, Central.

THE WING ON BANK LTD.

Head Office Hong Kong. 26, Des Voeur Road Central Authorised Capital $10,000,000

LONDON BANKERS: Westminster Bank

Foreign Exchange ziption of banking busine Current Acc uts ande

rates which

ceived

Trusteeship

Safe Deposit

very des

PHILIP GOCKCHI

bire:

Honolulu Esinking

Karachi

Kobe

London

Manila

Los Angeles

Moji

Nagasaki

Nagoya

New York Osaka

Otara:

Paris Peiping

Rangoon

Rio de Jeneïro San Francis Seattle

Semarang Shanghai

Singapore

Sourabaya

Sydney

Tientsin

Tokyo

Tsingtan

Yingkow

Interest allowed for Current counts.

Deposits received for fired periods

at rates to be obtained on applications.

Y. KANO,

Manager Hong Kong, 11th September, 1937

THE

SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China)

Capital paid up Reserves

Capital Savings Dept. Reserve Savings Dept. Head Office Sha

A Bank having as

industrial devel

the

$5,000,000 $10,000,000.

500,000% $600,000.

sion

Ching and the fostering arrang

ercial relations abroad.

Hon

Long

Queen's Road, Central.

Phone: 31116: