1939-01-28 — Page 13

HONG KONG DAILY PRESS

BANKS

HONGKONG AND

SHANGHAI BANKING

CORPORATION

Authorised Capital ......$50,000,000

THE CHARTERED

BANK OF INDIA,

AUSTRALIA &

CHINA...

Issued & Fully Paid-Up $20,000,000 Incorporated by Royal Charter, 1855 Reserve Funds:

Sterling £9,500, DOU Į H.K. Currency Reserve $10,000,000 | Reserve Liability of

Proprietors

HEAD OFFICE: LONDON: 38, Bishopsgate E.C.J.

,200,000,000 | Paid-up Capital

Head Ofce:-HONG KONG

Board of Directory.

T. E. Pearce, Esq., Chairman. Hon. Mr. J. J. Paterson,

Deputy Chairman.

W. H. Lock, Esq..

G. Miskin, Esq..

Reserve Fund Reserve Liability of Pro- prietors.....

£3,000,000 £3,000,000

£3,000,000

MANCHESTER BRANCH 71, Mosley Street, Manchester.

AGENCIES AND BRANCHES: ALOR STAR HONG KONG PINAKO ILOILO AMBITOAH

BANGOOR IPOH

BALGON KARACHI SEREMBAN KLANG

SHANGHAI КОВЕ

BINGAPORE KUALA

SITIAWAN JOURABAYA TAIPING TIENTSIN TONGYAN

J. K. Bousfeld, Esq..

A. E. Compton, Esq.,

Hon. Mr. 8. H. Dodwell,

HANDKOK

K. Y. Morrison, Esq.,

BATAVIA

Hon. Mr. A. L. Shields,

BOMBAY

H. V. Wilkinson, Esq.,

i

CALCUTTA

Sir Vandelenr M. Grayburn,

Chief Manager. CKBU

CANTON CAWNPORE

Branches:-

COLOMBO

DELRI

LUMPUR

KUCHING „MADRAS

MANILA

Amoy Ipoh

Penang

WAIPHONG

MEDAN

Bangkok

Johore

Batavin

Kobe

Rangoon Saigon

HAMBURO

Homabay

Kowloon San

BANKOW HARBIN

Calcutta

Kuala

Canton

Chefoo

JJ

-+

Francisco Lumpur Shanghai Condor Singapore Lyons Sourabaya Dairen Malacca Sungei Foochow Manila

Colombo

Elaiphong Muar

Patani Swatow

Hamburg (Johore) Tientsin

Hankow

Harbin

Hongkes Eloilo

Mukilen Tokyo

New York Tsingtao Peiping .. Yokohama

JA

Current Accounts opened in Local Currency and Fixed Deposits received for one year or shorter periods in Local and other Cur rencies on terms which will be quoted on application,

Also up to date Safe Deposit Boxes in various sizes To Let.

Hong Kong, 7th October, 1938.

HONGKONG SAVINGS

BANK

(Bhuket) NEW YORK. TEINOTAÐ PRIPING YOKOHAMA

(Peking)

FOREIGN EXCHANGE and General Banking Business transacted.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods at rates which will be quoted on application, The Bank's Head Office in London undertakes Executor and Trustee business, and eläims re- covery of British Income

Tax overpaid, on terms which may be ascertained at any of the Agencies and Branches.

R. A. CAMIDGE,

Manager.

THE CHASE BANK

15, QUEEN'S ROAD CENTRAL

·HEAD OFFICE:

The Business of the above Bank is ennducted by the HONG KONG

SBANGHAI BANKING COR-An PORATION. Rules may be ob tained on application.

For the Hong Kong & SHANGHAI BANKING CORPORATION.

"|

V. M. Grayburn,

Chief Manager. Hong Kong, 7th October, 1938.

BANK OF EAST ASIA,

LIMITED.

Authorised Capital ....$10,000,000.00, Paid-up Capital ....... 5,598,600.00 Reserve and Undivided

Profits

2,770,728.76

Head Offee-HONG KONG No. 10. Des Voeux Road, Central.

Board of Directors:

Sir Showson Chow, Chairman Li Koon Chun, Esq. Li Lan Sang, Esq. P. K. Kwok, Eng. WungChuSon, Esq. Wong Yun Tong, Esq. Kan Ying Po, Esq. ChanChing@hex, Esq. FungRingWah Esq.

Kon Tong Pe, Erq., Chief Manager, Li Tre Fong. Eaq., Manager,

Branches and Agencies :---

Amay

Bataviu

Botany

Calenta

Jatna Haiphong Hazkow

Karkon Рельов Boorabaya

Rangoon

Baumon

Lendua Manila

Below

Bydney

Tathoku

sipco

Melbourne Bad Fran

NUREKA

How York

O

Tiontain Tokyo Sematant Vancouver Shanghai Yokoham Polping Hingaporu

Honolniu Parle Kobe

Every description of Banking

18. PINE STREET,

NEW YORK.

FINANCE

CHINA CUSTOMS WEEKLY RETURNS AND REPORTS

LOANS

Union Discount

With the announcement, by a spokesman of the Chinese „Ministry of Finance that the Chinese Government will no longer advance the amounts required to meet the deficiency on the external debt service. the question of the tature ser- vicing of the Customs loans is raised in an acute form.

These loans, it may be recalled were the subject of negotiations last year which culminated in the Anglo-Japanese Loan Service Agreement of May 3, 1938, whereby the Japanese authorities undertook to remit to the Inspector-General [« of Customs the appropriate quotas from the parts under their control.

ASSENT REFUSED

As was pointed out recently, the Chinese Government refused their ussent to this agreement, which has therefore, «remained inopera- tive; rather than temporize on something which they regard as a matter of principle, they have hitherto preferred to draw on their own resources in order to main- tain the service of the various loans, advancing the necessary sums to the Inspector-General of Customs as, required. Evidently this self-imposed burden is now proving too heavy. Hard pressed as they are, the Government feel that the situation" has become anomalous that it cannot con- tinue," and Sir Frederick Maze's request for a further advance nas accordingly been rejected.

TECHNICAL SECURITY

With regard to the Government's undertaking to set aside sums pro- portionate to the Customs collec- tions in the area still under their >ontrol, it is perhaps worth noting that the Customs loans, while they arc, of course, an unconditional obligation of the Chinese Govern- ment have no such prior status In relation to the general revenues

BANK OF ENGLAND ·

Public Deposits Other Deposits:-

Bankers.....

SATURDAY, JANUARY 28. 1939. —PAGE 13

PRESIDENT LINER

Sailings

SAN FRANCISCO AND LOS ANGELES

VIA KOBE, YOKOHAMA AND HONOLULU

S.S. PRESIDENT PIERCE* *ES. PRESIDENT COOLIDGE," 8.S" PRESIDENT TAFTE S.S. PRESIDENT CLEVELAND

• CALLS AT SHANGHAI-

Դ

Sails Jan. 26th at 4.00 P.M.

+

Feb. 11th at 8.00 AM,

Feb. 25th at 400 P.M.

Mar. 11th at 4,00 P.M.

London, Jan. 2. (Reuter).

Jan. 19

Jan. 28

€ 13,250

(000's omitted)

£12.920

119,940

118:190

Other Accounts Total...!

38,690

36.110.

156,630

154,900

Government Securities

85,750

82.010"

Other Securities:--

Discounts and Advances

18,490

18,780

Securities ...........

23,610

21,860

Total

42,100

40.640

Notes and Coins

59,080

63,240

127,030

127,000

487,950

163,850

34.98%

37.68%

S.S. S.S.

11

Feb. 17th at 11-NOON

9.8. “PRESIDENT GARFIELD " 8.8. “ PRESIDENT MONROE"

Mar. 17th at 11—Ñook

M

21

Mar. 31st at 19-- Noox

*

MANILA

Sails Feb. 3rd at 9,00 P.M.

Feb. 3rd at 19-Noor

Total Bullion ........ Notes in circulation.

Ratio of Reserve to Liabilities

FEDERAL RESERVE SYSTEM

Blils Bought

US. Securities, held

Federal Reserve Ratio

Federal Reserve Credit Outstanding Monetary Gold Stock .. Industrial Advance

LONDON METALS

EXCHANGE London, Jari. 26. (Reuter).

Standard. Cash 42 Standard.

COPPER

buyers

£

sellers

£ 42-1/3

3 months 42-5/16 Electrolytic 47-1/2

THIN

42-3/8 48-1/2

Standard. Cash 208-3/4 Standard.

..3 months 209-1/4

LEAD

209

Foreign.

Official Price 14-1/16 Foreign. Official

209-1/2

3 months 14-5/18'

SPELTER

14-3/18

14-3/8

Official Price 13-3/8 Ordinary. Official

13-1/2

3 months 13-9/16 13-578

Final Afternoon Transactions Tin, Standard, Cash, £209 paid and value.

pt Cluns as they have in relation Ordinary.. to the Maritime Customs. And un- der the projected ärrangement the American Back offering com-technical security for the loans plate Foreign Banking Service will be very slight, for since the 171 the principal Markets of fall of Canton the ports remaining the world.

in Government hands are few and Interest Rates on Application.

e trifling Importance. Failing agreement to compromise with re- Tin, Standard, 3 months, £2091 gard to the revenues from Shang-paid and value. hal and other "Japanese ports." in fact, the possibility of an even- tual default looms up for the first time in the history of the loans.

SAFE DEPOSIT BOXES

This Bank is entirely owned by THE CHASE NATIONAL BANK, NEW YORK, with Resources over U.S. 82,500,000,000.

D. M. BIGGAR,

Manager.

BANK OF CHINA

A

Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE

BANK

PAID-UP CAPITAL $40,000,000.00 (BRANCHES ALL OVER CHINA)

Owing to our numerous Branches in. China and connections in the principal Commercial Centres of the World, we are able to extend to our Clients special facilities for Domestic and Foreign Banking and Exchange.

Head Office: SHANGHAI Hong Kong Branch:

4, QUEEN'S ROAD, O. South China Offices:

.

and Exchange business transacted. CANTON KONGMOON Loani

granted {}}

TOISHAN approved SWATOW securities.

SHIUCHOW KINGCHOW Current Accounts opened in Local "We also handle the issue of Currency and Fixed Deposite re-Bonds and other Public Funds of ceived for one year or shorter the Chinese Government both at periods in Local and Foreign Cur Home and Abroad. rencies on terma which will be

quoted on application."

Safe Deposit Boxes To Let

KAN TONG PO.

l'hist Manager.

THE MERCANTILE

BANK OF INDIA. LIMITED

Head Omcat-5, Gracechurch Straat, London, E.0.3

Authorised Caplen)

Subscribed Capital

I'nit.op Capitat

Reserve Fund and Ikerk,

BANKERS:

25,00,000

200,000 21,447,830

The Bank of England and Midland

Bauchok

Flotnbey

Calcutta

Bank. Ltd.

BRANCHES:

Ipoh Kaanias

Kandy

Colombre Deal Galle

Funt '

31-dra

New York

Ba

Karach

Kata 'harm

Hongkong Koxie Lumpur

Howart

Kuala Trenugasa

Proug

Hanzona Shangha

Stampars

HONGKONG BRANCH."

Every descriple

Queerde vra Bracin”,

of Banking out Exchange

Traveller Chequer bored,

TRUSTEE AND EXECUTORSHIP

UNDERTAKEN.

CURRENT ACCOUNTS cased in Local Cur ever and NIXED DEPOSITED belved in Local Carrancy, YIKELING & U, 8, DOLLARS 6n, lerna | tist may be xaontained on application.

D. BENSON,

Vinager

',

SHOU J. CHEN,

Μαπάρετ

%

THE STATESMANLIKE

POLICY

New York, Jan. 28. (Reuter)

Jan. 19

Jan. 26 (000's omitted)

1,000

$ 1,000 2.564,000 2,584,000

83.91%

2,588,000

84.03

2,583,000

14,815,000 14,640,000

15,390,000 15,131,000

ESTIMATES PASSED

8.—

CHUNGKING January The Ministry of Finance has sanctioned the budget of the Sze- chuen Provincial Government es- timates for 1938. The deficit is $14,000,000.

Inclusive of the self-defence ex- penditure estimates by the Exami- nation Committee amounting to $6,000,000 the Committee consider- ed that the sum should be subsidiz- ed by the Ministry of Finance and |that the deficit of $8,000,000 should be cut to $5,000,000 in order to meet the need.

It was stated that the budget was examined by a Committee comprising representatives of the Generalissimo's Provincial Head- quarters in Chungking, the Finan- clal Department of the Szechuèn Provincial Government and the Ministry of Finance.-(Our Own Correspondent).

|CONSIGNEES' NOTICES

SERVICES CONTRACTUELS DES

MESSAGERIES MARITIMES

CONSIGNEE NOTICE."

8.8. ~ FELIX ROUSSEL"

5"A/89.

BRINGING CARGO From MARSEILLES via SAIGON, etc. ARRIVED HONG KONG ox TUESDAY,THE 24rя JAN. 1939,

"ONSIGNEES are hereby informed that their goods with the exception of Opium, Treasure and Valuables are being landed & stored into the Godowns of the Hong Kong, Fowloon Wharf & Godown, Co., Ltd., Kowloon, whence delivery may be obtained immediately after landing..

Nevertheless I is clear that de- fault must bring consequences far riore se lous for China than would "It need not be supposed that the apparent surrender involved in the Chinese Government is other accepting a compromise solution than fully aware of the severe blown the lines of-if not necessarily which Its credit would sustain if identical with the Anglo-Japan-- the due payments on the external ese Agreement, which is now in obligations secured on the Customs abeyance. In any case the moral were not made, For many years priority of the Customs loans as a these loans have been regarded charge on" the general revenues both in China and abroad as the should-and presumably will be sheet anchor of Chinese credit, and recognized China's capital require the record of uninterrupted payments at the end of the war are ments maintained through good likely to be enormous, but the and bad times testifles both to the supply of funds from abroad can efficiency of the Customs Adminis. hardly be counted upon if the main tration and to the special status prop of Chinese credit has been

Damaged Packages will be examined occupied by the loans in the eyes withdrawn. Fortunately there is by the Company's Surveyor, Messrs. of successive Chinese Governments, reason to think that the Govern Goddard & Douglas in the presence of No спе

their ment of General Chiang Kai-shek the Consignees at 10.00 am, on Mon- will withhold

the more states-day, the 20th Jan, 1919. sympathy from the present Gov-may yet take ernment in a dilemma which none manlike view of the country's true of its predecessors has had to face. ¡ needs.

CONSIGNEES' NOTICES

NOTICE TO CONSIGNEES

H

RICKMERS LINIE

NOTICE TO CONSIGNEES..

OCEAN STEAM SHIP CO., LTD. THE SEC. RICKMERS"

AND

CHINA MUTUAL STEAM NAVIGATION CO., LTD.

YONSIGNEES por Co.'s Yemel "PERSEUS

FROM UNITED KINGDOM VIA SINGAPORE

All claims must be sent.in to më on or before the 3rd Feb, 1939, or they will not be recognised.

Consignees must have a Revenue Officer in attendance when any dutiable goede are siamined by the Company's Burveyors

No Fire insuranes will be effected by us in any case whatever.

R. OHL

Agent Bong Kong, 24th Jan., 1939,

(72

SILVER LINE.

NOTICE TO CONSIGNEES

FROM

having arrived from Hamburg, and│" Ports of call, Consignees of Cargo arc hereby notified that their goods are being landed and placed at their risk into the Hong Kong & Kowloon Wharf NEW YORK & SAN FRANCISCO & Godown Company's godowns at Kowloon, where delivery may be

obtained as soon as the goods are Motor Vessel landed

are hereby notified that their Cargo: Optional will not be landed

cargo

THE "SILVERYEW" :

"

DONT FORGET Holt's What The Cargo will be extends.

ready for Delivery from Godown No claims will be admitted after tus Wharf and Godawa Company, Limited

THAT WHEN

You are at Home

you can get the

HONG KONG

DAILY PRESS

at SELFRIDGES.

will be discharged inte Holt's hore, unless notice has been given 48 baving arrived from the above Ports on Wharf, Kowloon, where it will lie hours prior to vessel's arrival, but 21st instant, Consignees of Cargo are at 'Consignees risk and subject to carried on from port to port to the hereby informed that their Goods are Terms and Conditions of Storage at final port of call to which the option being landed at their risk into the Go (downs of the Hong Kong and Kowloon

and after 25th Jan

Goods have left the Godowns, and all Kowloon, and stored as Consignees rink Optional Cargo will not be landed goods remaining undelivered after the and expense. bere, unless Notice has been given prior 30th Jan, 1939, will be subject to All broken, chafed, and damaged Goods to Vessel's arrival, but aarried on from rent

are to be left in the Godowns, where port to port to the flast port of call All broken chafed, and damaged they will be examined oz Friday, to which the option, extends.

Goods are to be left in the Godowns, 17th instant, at 10 am.

All broken, chafed and damaged Goods where they will be examined on 28th All Claims must be presented within are to be left in the Godowns, where they lap., 1939, at 10 am, by our 15 Days of the vessel's arrival hore, will be examined on any Tuesdays and Surveyors Mears Goddard and after which date they cannot be re- Fridays between the hours of 10.16 A. Douglas.

cognised.

Rent.

and Noor within the Free Storage period. To comply with the Genera) Banded No Claims will be admitted after the No Claima will be admitted affer the Warehouse Regulations consignees Goods have left the Godowns, and all Goods have left the Vessel's Godowe must have a Revenue Officer in Goods remaining undelivered after the and all Goods remaining undelivered attendance when damaged dutiable 28th inst, 1937, will be subject to after the lot Fab., will be subject to goods are examined.

Bant. All claims must reach us before the No Fire Ininranos has been effected,

Bill of Lading will be countersigned by

-„FURNESS (FAR EAST), LTD.

2nd Floor, Hongkong & Shanghai Bank Building

Dinin 97185 & 23169," |Hong Kong, 21st Jan, 1939;

All Claims against the Vessel must 30th Feb., 1939, or they will not be be presented to the Undersigned on or recognized. before the 15th Feb., or they will not. No Insurance will be affected.

be recognised.

No Fire Insurance will be effected.

BUTTERFIKLD & BWIRE,

Agenta.

25th January 1939.

Billa of Lading will be countersigned

by

JEBBEN & CO., Agrate Hong Kong, 2rd Jan., 1939,

NEW YORK AND

PRESIDENT HAYES" PRESIDENT POLK”

8.8. PRESIDENT COOLIDGE" S.S.

PRESIDENT. HAYER"

S.S." PRESIDENT POLK" S.S" PRESIDENT TAFT"

BOSTON

VIA SUEZ

Saila Fob. 3rd at 19-Noon

Feb. 17th at 12-Noom

Fab, 18th at 6.00, P.M.

AMERICAN PRESIDENT LINES, LTD.

ROUND WORLD SERVICES

12, PEDDER ST.

Priestina

Lloyd

TEL. 28171.

FORTNIGHTLY

EXPRESS SERVICE

* FAR EAST-INDIA-ITALY

Hongkong-Loudon 23 days Hongkong Italy 21 days

SCHEDULE OF SAILING FROM HONGKONG

TO MANILA. SINGAPORE, COLOMBO, BOMBAY, EGYPT

& ITALY

10 SHANGHAI “

18. "CONTE VERDE" 3rd Feb. B. "CONTE VERDE" 27th Jan. "C. BIANCAMANO" 25th Feb. 5.8. "C. BIANCAMANO" 10th Feb. “CONTE NOSSO" 10th Mar. 2. “CONTE ROSSO" Brd Mar. mr. "VICTORIA" 25th Mar. m.v. "VICTORIA" 18th Mar. 8.8. "CONTE VERDE" 31st Mar.

LLOYD

TRIESTINO

P.O. Box 143. Tel. Address "Lloydiano"-Telephones 32082 Fassonge

32983 Freight

HAMBURG-AMERIKA. LINIE

Far Eastern Mail, Passenger & Freight Service

Through bookings to Amenca via Europe and Kurope via America, Bookings around the world.

Through bookings to Tondan

OUTWARD SAILINGS

"REINI ANU... for Shoi, Dairen, Tsingleo, hama.

Kobe................ Jat Feb.

for Shanghai, Dairen, Tako, Yokohama, Kobe...

*. "BURGENLAND" 1.8. "OLDENBUEG

10th Feb

for Shanghai, Tainen, Taku Tsingtao, Yhma., Kobe..... 27th Fet.

HOMIWARD SAILINGS

*.. "TEVERKUSEN"

FAR

[Gencs, R'daw., Hamlorg... 8th Feb. 4.5" BHEINI AND" for Geros, Antwerp, L'dar, Erg 4th Mar.

* Freighter with Passenger Accommodation,

For further partwalars and passage fares, etc, apply to:-- HAMBURG-AMERIKA LINIE

JEBSEN & 00, Aare

19, Pedder Street, Tel. 31205–8.

CANTON AGENTS: CARLOWITZ & CO., Sbakes Road.

MAERSK LINE-

Fast regular FREIGHT and

PASSENGER SERVICE

via

SHANGWAY and JAPAN

to

LOS ANGELES, PANAMA, NEW YORK, BOSTON PHILADELPHIA & BALTIMORE.

If sufficient inducement offers also other ports of call.

Sailings, to UB.A. - M.V. "GERTRUDE MAERSK "

Arrivals from UB.A.

30th Jan 13th Feb.

· M,V: "GRETE MAERSK”, MV. "HULDA MAERSK”

10th Feb.

27th Feb.

11th Mar.

(All dates are subject to siteration without notice). EXCELLENT AUCOMMODATION FOR PASSENGERS AT MODERATE RATES,,

-For Freight and Passage please apply:-

JEBSEN & CO.

Canton Shameen," B.C. Agenta. Hong Kong, Pedder Building

Tel. 10918...

Tul. 31205-Ő. ·· Swatow Agents: GEBR ROESE; ---Tel 1658.