1941-04-24 — Page 13

HONGKONG & SHANGHAI

BANKING CORPORATION.

Authorised Capital Issued and Fully Pald-up Reserve Funda:-

Sterling

Hong Kong Currency Ro

scrve

leserve Liability of Pro- - prictors

.$50,000,000 $20,000,000

.£ 0,600.000

.$10,000,00

.[20,000,0GI

HEAD OFFICE: HONG KONG.

BOARD OF DIRECTORBI Hon. Mr. J. J. Paterson, Chairman.

W. H. Lock, Esq.. Deputy Chairman,

1. H. Bounfold, Esq..

A. II. Compton, Esq.,

L. J. Davies. Eng...

G. Miskia, Esq..

K. 8. Morrison, Esq. Hon. Mr. T. E. Paros,

Ion. Mr. 8. H. Dodwail, Hon, Mr. A. L, Bkleidė,

Sir Vandeleur M. Grayburn

Chief Manager.

BRANCHES:-

Bangcom Badgon

Pan Franotaen Shanghai

Kuala Lumpur Singapore

Soursbays

Bunge! Patun

Bwakow

Tiental

1.007

gho

1pok Jobore

Kabe

Bombay Jalculte

Kowloon

Canton

Loodon

*hafoo

Lyons

Tolombo.

Mainoom

Dalren

Mantin

*Docto

Muar (Johor)

Toyo

Alphong

Mukden

Tringbo

Hankow Jarbin lollo

New York

Tokokama

Peiping

The reclamation of about 214

Sewerage

As the terms of my reference | construc,ed wid become a pressing acres of land at Tsun Wan should Messrs. Coode, Fitzmaurice, also be carried out. This land embrace the future development one.

deal with Wilson & Mitchell in their Report could be made available for build- of the Port. I must

such

residential, indus- of 24th November, 1922, propos- ing sites for several matters concerning

have been

ed a scheme for the construction trial and publie purposes. The development which

my notice during of new piers in Hung Hom Bay average depth of filling over thi: brought under

on the east side of the Kowloon area would be smell and the cost the Inquiry

Pen As already stated, while Peninsula. Having regard to the is roughly estimated at $4,750.000 the piers for the large ocean-go- | occupation

land in this This scheme would undoubtedly

no doubt pay for itself. ing veseks have been maintain area, the scheme had

to recommend it. ed in a satisfactory eunction there much

I <OD- are several of these used by local sider, however, that before any

in a bad state, thing is done on the east side, the shipping that are These bad pers are mostly situat capacity of the west side of the ! I have refrained from dealing the general question of ed on the water front in Victoria Peninstr'a should first be exhaust-with between Murray Road and Queened. The east side is exposed to sewerage, as it hardly falls within Street

of my reference. In the prevading winds and typhoons, the terms while the west is more protected. | suggesting the Alling in of the The pers and facilities of the present Typhoon refuge harbour Hong Kong & Kowloon Wharf & jat Mong Kok Tsui, I am aware Godown Company are on the west that, apart from its other advan- side and their site may be des- tages, such reclamation will have cribed as the best in the Harbour the effect of clearing

away an for the large ocean-going vessels, area of sull water heavily pillut-

ed with sewage. Naval Depot

Penang

Local Currency

CURRENT ACCOUNTS opened

and FIXED DEPO ITS received for One Year or shorter erjods Local and Other Currencies

terms which will be quoted

pplication.

SAFE DEPOSIT

izes To Let.

on

BOXES of various

TRUSTEE and EXECUTOR business Indertaken.

Hong Kong. 26th February, 1941.

HONG KONG SAVINGS BANK.

Should the accounts show surplus, it would become a matter for consideration, In most of the Ports of the United Kingdom If the scheme is carried out clamations. That would have to the Harbours were, in the early then the Harbour Trust would be faced but it would appear that days, owned by the respectivo control many new plers, but un- there would be an ample margin municipalities and the harbour re-der the line of policy adumbrated, of money available for that pur- venues were received by the the tenants. of the piers would pose. municipal services, with the re- stall do the "operating" and not sult that complaints were

made the Trust. that the shipping using the ports So far as piers on the Kow- paid tar too much compared with loon side of the Harbour are con-

The reclamation suggested at the services and accoinmodationcerned, they, as already stated. Cheung Sha Wan would displace it received, in other words the are in a satisfactory condition, and certain ship and boat building shipping was subsidising the extensive enough to accommodate yards now situated there, and it There remains, therefore, course | town. The Public Trust system the volume of trade now using the is proposed that a small reclama- (c) to be considered, that is, altered this. How far this 21-

form of Port Au-alogy applies at Hong Kong will that the European War and

If, however, we can assume tion be carried out at Yau Tong whether spine

Wan (near Lye Mun entrance thority or Trust would meet the be best known by the Govern- | China-Japon War will come to a channel) in order to accommodate case. There is a wide-spread tearment.

the yards so displaced. satisfactory end some lime, there

This is among the mercantile interests in

The prmetple underlying the does not seem to be much doubt a small matter and I have not the Colony that such

Butly

Puble Trust system of Port con- that the trade of Hong Kong will inquired into the cost.

An up- would inevitably

the charges on vessels and goods, and traf is that shipping should only increase. Then the matter of fur-proach road would be required at

be taxed to the extent necessary

ther accommodation will arise this site. this seems to be founded on

the assumption that the creation

accommodation sooner or later, and the question to provide of

and facilities it needs.

as to where new piers are to be! such a Boy would menu acquisition by that Body of the piers and godowns and the operating of them by that Body must, however, point out that by n means is that necessarily.so

The misconception may perhaps have arisen from à statement made by Alexas. Coode, Fitzmaurice, Wibon & Mitchell, Consulting Engineer, who were asked to ad- vise on certain Port matters some time ago.

In their Report dated 24th November, 1922, they spoke of the possibility of the "forma- tion of a Port Trust which would take over exiting wharves manage the new wharves those taken over," the inference which might be drawn being that the formation of a Port Trust would necessarily mean them tak-

Mr Nicol has prepared a plan ing over and managing all whar-showing a scheme for the widens ing of Connaught Road between One Port Authority may

the two points mentiond, and the own construction of about 17

new and control but not operate, a striking example being Liverpool Pters, some intended for the ship- ping trade and ferry bouts and where, however, while the get-others for official purposes. Apart

Authorised Capita! cral operating is let to private from the necessity for new piers

'atd-up Capital that enterprise the Authority do carry

to replace the more or less dere- three more piers, but the site is sooner or later the system now in Reserve * an amount of warehousing of

het ones, Connaught Road has occupied by the Royal Naval De- force of discharging crude sewage goods. Another Port Au hority become very congested with traffic | pot. That Depot is somewhat into the waters of the Harbour may both entrol and operate, and should be widened sooner or cramped and seeing that it is not will have to be abolished at cer

later. Without destrucm be laid down as the ideal, for it property, this widening can only be

or absolutely essential that it shou'd ¦ tain places, and a more modern

at that spot, intuely depends on tradition, cus-be accomplished on

arrangements method substituted. the water should be negotiated for its

This is a matter relating to the tunt and local conditions.

side, that is, by reclamation of moval to another site. There does | health of the community and The scheme not seem to be any reason why it forms a big problem to which I has the advantage that it effects | should stand in the way of the have no doubt the Government is this widening by a narrow re-development

commercial fully alive. It is a problem which k the clamation, in addition to providing purposes

really best has arisen in many other Ports of for the building of new and in- site 111 the Port for those which I have had experience. has proved piers. It includes also a purposes. I understand that some

more extensive reclamation しな

be-negotiations have already taken tween Murray Road and be learned being that it has been

Queen | place between the Hong Kong & Victoria Street.

Kowloon Wharf & Godown Com- ULSTER proved to be for the

The roughly es- need only mention London, Laver-timated cost of that portion of the pany and the Admiralty; thes?

Quebec. scheme between Queen Street and will no doubt be encouraged, pool, Glasguw, Belast. Montreal. Ben:bay, Karachi, Cal- | Queen Victoria Street is $7,500,000 cutta and Sydney, as a few not- and of the remainder $2,700,000, able examples of large Ports that making a total of $10,200,000. This have come to adopt the Public is a bold scheme but an eminent-

Further proof of ly desirable one and one that the efficacy of the Public Trust commend for

carrying out as in its

soon as practicable. system is to be found

I may add extension to other spheres of ae-

that the preinium on the sale of tivity connected with public ser- the land reclaimed between Queen vices in Great Britain, as witness Victoria Street and Murray Road

of the whole scheme.

ves, etc.

at Londen. No one system can

Pier Leases

It is, however, significant that at most of the Ports in the United Kingdom and the Empire, form of Public Port Trust

lesson evolved, the obvious

Trust system.

Som

best.

{

Praya Scheme

land from the water.

|

DEC-

To the northward of the r

there is room mic

for about

for

re-

There are other places in the Harbour which are similarly af- fected, and it seems

to me

CASUALTIES

(SPECIAL TO CHINA MAIL")

In des gung future miers, con- sideration should be given to the It was officially announced in question of providing, on the piers London yesterday that 500 per- themselves, transit sheds, passen- sons were killed and another 420 ger accommodation and railway seriously injured in the recent sidings. The railway connections German aerial blitz on Northern would necessitate taking over the Ireland.---International News Ser- Military lands to the south of vice.

The removal of the Austin Road. Military from their present posi-

area, would appear in any to be overdue.

The Business of the above Bank ts conducted by the HONG KONG AND HANGHAI BANKING CORPORATION. tules may be obtained on appucation, FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION,

V. M CRAYBURN,

Chief Manager. Hong Kong, 1st March, 1937.

THE BANK OF EAST ASIA, LTD.

Prutta

and Undivided

$10,000,000.00 5,500,600,00

2,963,281.50

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

BOARD OF DIRECTORS:-

Shou-Bon Hon. Str

Chow, Chairman; Koon Chun, Esq., P. K. Kwok, Esq., Wong Yun Tong, Esq.. Chan Ching hek, Esq.. Li Lan Sang, Esq., Wong Thu Bon, Esq. and Fung Ping Wah. Sm.

Kan Tong Po. Esq., Chiel Manager. Hon. Mr. Li Tse Fong, Manager,

BRANCHES AND AGENCIES1-

Ay

Batavia Jombay Cainutta Unplug riankow Honolulu

Mantis Melbourne

Semarang

Nagunak!

Shanghal

New York

Singapore

Parim

Sonrabaya

Priping

Awator

Robe

Kowloon London

Penang

Rangoon

Helgoo

Ban Franc%200

Sydney Tientala

VRD COUT

Every description of Banking and Exchange business transacled. Loans granted on approved securities,

Current Accounts opened in Local Currency and Fixed Deposits received for one year or shorter periods in Local

Foreign Currencies

terma which will be quoted on application.

Safe Deposit Boxes To Let.

the Central Electricity Board and is likely to be more than the cost tion in the midst of a built-UP THE CHARTERED BANK and

the London Passenger Transport Board.

}

be

Reclamations

case

OF INDIA, AUSTRALIA

AND CHINA, Incorporated by Royal Charter, 1853.

Paid-up Capital soonReserve Fund

Reserve Liability of Pro-

prietors

I think that the following works of reclamation should be carried out by the Government as as practicable:--

£3,000,000 £3,000,000.

£3,000,000

HEAD OFFICE: LONDONI 38, Blahopogate, E.C.2. Sub-Agencies in London: 117/122, Leadenhall Street, E.C.2.

West End Branch: 14/18, Cockspur Street, S.W.I.

Manchester Branch: 52. Mosley Siteet, Manchester, X.

AGENCIES AND

If the proposed Harbour Trust is to be created, this scheme would Before leaving the question of of course go before them for their the policy with regard tu the approval. The Trustees from their leasing of piers and or allowing own local knowledge would private en erprise to do the quite able to subject it to proper operating. I would like to men-criticism. I can only suggest the tion that it has been put to me poney to be adopted in relation to that there is legislation in vari-jit. The old piers that would be The Bling in of the present cus parts of the world, such as displaced are also shown on the Typhoon refuge harbour at Mong Australia, whereby the Authori-plan. The leases for those piers Kok Tsui (167 acres) and the ties can prevent new enterprises expire with the others in the Port filling in of about 143 acres at being formed for putting steam-in 1949. The lessees would be in- | Cheung Sha Wan, together with ers on runs when the particular formed of the scheme and their the formation at the latter place run is sufficiently well-served, leases renewed on very short of a new Typhoon refuge in lieu thereby preventing suicidal com- | terms with the intimation that of the former. The total area of petition and waste, etc. This as when a new pier

was ready for land thus reclaimed, would there- pect of the matter has not been them they could rent it at a cer-

fore be 310 acres. The new re- lost sight of by me. I can easily tain rental. Such rental would be fuge would, on the whole, be bet- Alor Biar imagine a similar Cusc arlsing based on a sum representing 0 ter than the old one from the Amritsar apart from any special

It is quite conceivable, of the individual pier, plus

steamer small interest on the capital cost point of view of protection from Bangkok service.

the the winds. It is true it is a little for example, that a rival concern, estimated cost of maintenance and further away, but the extra dis-Caloutte

less financially a percentage on capital cost to tance is so small as not to be any sound, might be formed to com- cover depreciation. The total rent detriment. Mr. Nicol's very rough pete with, say, the Hong Kong which the occupier would be call- estimate, at to-day's prices, of Canton & Kowloon Wharf & Godowned upon to pay therefore, should the cost of the whole scheme, in-

Vawnpore Company. The new concern would not put him in a worse

Coba financial cluding the reclamation and the Colombo require a wharf or wharves and position than he would be in if construction of the necessary Delhi would have to approach the he built the pier himself. If any sea-walls,

Haiphong $12,000,000. I Hamburg Harbour Trust for the necessary pier lessee wished to re-build his gather that the premium to be lease, but the Trust would be own pier on the lines shown on obtained on the sale of the land right in refusing to grant any the plan I cannot see that there lease for such a purpose unless it could be any objection, in which were proved that the existing case he would be called upon to facilities were Inadequate, The pay a similar amount of rent to same thing would apply if a pler that charged to the others who were required for an unneces-built their own plers. sary steamer service. Competition may be good in certain circum- stances, but it is the generally ac-

more

or

is

Batavia

Bankow Hoor cont Iloilo Ipok Herschl Klang Agencies Kobe

bay

BRANCHESI

POURDE Rangoon Saigon Beremban Shangha Singapors Hisinwat

Clive Street Mosla Lumpur Soarabayı Faicile Place Kuching

FET

Madras Manlia Modan New York Peiping

Peking)

Taiping Thenido Tongkah

(Bhuket) Telogiar Yokobami

FOREIGN EXCHANGE and Gentrul

so reclaimed, would be likely to Banking Business transacted. amount to not less than $24,000,- CURRENT ACCOUNTS opened, and 000, while, in addition, the an-FIXED DEPOSITS received for Une nual Crown rent to be derived Year or shorter periods in fecal or Other Currencies at rates which will from the land, based on present be quoted en application values, would be about $109,700. SAVINGS ACCOUNTS also opened' in It does not seem to be necessary Local Currency and Sterling with in Number Of Years to emphasise the desirability of [terest allowed at rates obtainable on

this undertaking which would application.

cepted doc'rine ^now, that un- I imagine that this scheme, if give 310 acres of much needed The Bank's Head Office in London necessary competition is bad and adopted, would be carried out in land for development, in addition undertakes Executor and Truster busi- wasteful In stating this,

NOSE, of stages, so that the whole would, to an improved refuge harbour.

and claims recovery of British course, I need hardly say that I take a number of years to com- At a future date, it would be may be ascertained at

|Income Tax overpaid, on terms which hold no brief for any of the Hong pete. As the reclamation for the well to extend this reclamation.Agencies and Branches. Kong existing concerns, but," in widening of the road would be This would then involve the re-

W. H. EVANS THOMAS, the best interests of the Port, they for the beneft of the town, I as-building of the vehicular ferry

any of the

Manager.

מס

KAN TONG PO,

Chief Manager,

THE WING ON BANK, LIMITED.

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

LONDON BANKERS/ Westminster Bank, Ltd. Foreign Exchange and every description of banking business transacted.

Current Accounts and Savings Accounts opened. Fixed Deposita received at rates which will be quoted on application.

Safe Deposit Boxes for hire.

PHILIP GOCKCHIN,

Chief Manager.

Help your Friend and his Hobby by giving POSTAGE STAMPS

for-

his collection

and

Seeds For His Garden

We can supply, the goods of hia and your want

GRACA & CO.

Dealers in Postage Stamps, Garden Beeds, etc., etc.

10. Wyndham Street Established 1896 Hong Kon