1939-03-12 — Page 11

HONGKONG DAILY PRESS

Finance and Commerce

GOOD PROFIT FOR BANK GERMANY'S 1938

OF EAST ASIA

Canton Branch Cleared With

Practically No Loss

34

A net profit of $786,503.12, including the amount brought forward from last year, was reported at the annual

of the Bank of East Asia. Ltd., held on

The Hon. Str Shouson Chow presided, and among those present were:- Messrs. Li Koon Chun.

P. K. Kwok, Wong Yun Tong, Chan Ching Shek. Li Lan Sang, Wong Chu Son, Kan Ying Po, Fung

Fing Wah (Directors), Kan Tonz Fo (Chlef Manager), Li Tse Fong (Manager); and the following shareholders, Messrs.

Fung Fut

Saturday

meeting afternoon.

a result of the conservative polley adopted by your Direc- tors during the past few years In

Canton regard to Branch, all outstanding, RC- counts carried by that Branch are ΠΟΥ being gradually cleared with practically

attendant loss.

more

no

than

cash at a very

GAINS?

■

The most outstanding gain öf Germany under Herr Hitler was in territory. Through seizure of Aus-

trla and Czechoslovakia, Herr Hitler added 44,000 square miles In the Greater Reich. But this in itself was no real gain, because 2 brought with it 15,000,000 more 1.ted Europeans into

enlarged and merely self-sufficiency problem.

the fold German's

and

Herr Hitler absorbed 6,000,000 of the 7,000,000 unemployed through a huge public works and military road programme, an in- tense rearmament programme, by building a trained army of. 1,900,000 men, and a navy ale feet building scheme which makes Germany a grave menuce on the sea and in the air. Herr Government in that 50 of industrial orders

tracts originated with the gry- ernment, This was done only through huge expenditures.

"Turning now to the Balance Hitler put the Tien, B. Wong Tape, Kwong Tze Sheet, you will notice that our business to the extent Ming, "Chan Shing M, Fung Ping total deposit continues to in-

cent per Fan, Tao Shuk Hon. Chow Eau crease, and on 31st December, and 80 per cent of building con- Leung. Lo Háu Fuk, KK. Lee, 1938, the total amount was over Li Tung, Li Pak To, K.K, Wong. two million dollars and many others

that of the previous year. Con- Addressing the meeting. the sequently our available Chairman said:-The net profit the end of 1938 stood at for the year including the amount high Egure of over $18,700,000.00. brought forward from last year This state of affairs, while it re- amounts to $786.503.12 which accts the high standard of qui shows a small decline com-dity and sound position," of pared with that of the previous institution yet indicates the rather

In view of the present limited neid of profitable em- mated as high as $30,000,000,000. disturbed and unsettled condi-ployment of available funds. tions in this part of the world

year.

as

I hope thareholders will consi- der this result satisfactory. ·

PUBLIC DEBT Germany's public debt When Herr Hitler took over W35

less than $5,000,000,000. Now, al- our though the real public debt is a dark secret. It is privately esti-

The German tax burden

"In the Investment Account monumental Germans' pald you will observe it shows a de-¦ 18,000,000,000 marks in taxes dur- cline of over $1,500,000.00 con- ing. the 1937-33 scal year. The "During the latter part of 1938, sequent upon our sale of certain total national income' was 68,000, "when hostilities were extended to investments during the year. Your 100,000 marks, which means that

South China, we had to close our Directors are keeping a careful almost 30 marks out

of every branch in Canton. However. watch and can assure share- 100 earned are paid over in taxes. I am glad to be able to report holders that our present hold- Germany, through a semi-col- that before leaving Canton your Ings are of a very high grade. lectivized agriculture, has boomed star was able to make arrange in accordance with our ususi her land yield at expense of A ment to have all valuable docu- practice we have written off Bank lavish use of fertilizers and ments removed to safety, and that Buildings the sum of $61,758.10. man-power. She gets almost our bank building is to-day stEl The Directors recommenda- four times as much wheat per Intact. In this connection I wish to place on record your Direc- tors' appreciation of the trying time your staff in Canton had to face during the critical period and of the efficient manner in which they carried out the pr- "I feel no doubt that you will turns, where the most strenuous order, to afford all possible facil/approve of the Directors' recom-efforts bring only one-tenth of a mendation to bring up the Re-bushel an acre over previous years. ties to clienta of our Canton serve Fund to $2,500,000-by trans- so Germany has falled to bring Branch, we have already open-ferring the sum of $50,000-from her food production up to war #ed a special department the Profit and Loss. Account.

Head Office here

strength, for a nation must have all

"There have been little changes an agricultural capacity their dealings and, to

which In other items of accounts that exceeds its peace-time consump-

rangement for evacuation. Τα

their accounts.

to

מ!

handle

liquidate

CANTON BRANCH

"It may be of interest shareholders to know that

tion of a payment of $6.00 per share as dividend represents per cent, on the capital value of the share.

RESERVE FUND

acre as the United States. but still her people are eating ersatz food—and there

a shortage

of that..

The wheat yield has now reach- ed the stage of diminishing re-

will require any comment from tion by 40 per cent before it can me and before I formally pro- prosecute a major war

pose the adoption of the accounts, fully.

to

2.5

I wish to express our thanks to

all members of the staff, both

here and abroad, for

the loyal

and faithful service they have NORTH CHINA

ADVERTISEMENT rendered to the Bank, and I feel

CHINA AUCTION

ROOMS

PUBLIC AUCTION

no doubt that you will support the Directors' recommendation to pay a bonus of $16,655.11 the staff

propose

1

to

28

CURRENCY

success-

CONFUSION

PEKING. "Mar. 12 (Reuter)--- Certain confusion reigning here

"With these remarks I beg to since the introduction yesterday

that the account

of the new rules as regards the presented be adopted, When this circulation of Federal Reserve has been seconded, I will answer, Bank notes in North China was to the best of my ability, any cleared up to-day when it was questions that you may wish to announced definitely that Peiping. Tientsin. Tsingtao and Cheefoo were included in the Federal Zone It is learned from good autho- Mr. Kwong Tze Ming proposed rity, though it cannot be confirmed Nelson "Street, Mongkok, Kowloon, and Mr. Chow Hau Leung second-officially, that various Japanese the undermentioned goods:--

The undersigned has received instructions from the owners to sell by Public Auction on TUES- DAY. 14th March, 1939, at 11 am. at the Sul Heong Yuen Godown,

ask.","

ام

Mr. B. Wong Tape seconded.

ed the appointment of Mr.

Chambers of Commerce in North.

Iron Riveta-Manila Ropes-Lan Sang and Mr. Fung Ping China have cabled to Tokyo to Steel Snatch Blocks-Steel Wah as ordinary Blocks, Single, Double and Triple the current year Sheave Wooden Blocks, Single,

Directors for postpone enforcement of the new currency or, at least, to exampt

the

ensur-

LONDON GOLD

Mr. Fung Fuk Then proposed the four towns mentioned, but Double and Triple Sheave-S-ton and Mr. Chan Shing Mi second- apparently unavailingly. Cyclone Block-Sledge and Ma-¦ es, the re-election of Messrs. chinist Hammers-Steel Rope Percy Smith, Beth, and Fiem- and Chain-Iron Shackles-Wire ing an auditors for Clips, Clamps and Thimbles—ing year. Foundation Boits, Eye Bolts,

The Chairman announced that Riveting Dolly

Bars-Messer dividend warrants would be pay- Oxy-Acetylene Welding Outft-

able to-day. Horizontal Hand Pump-Rex Contractor Pump Connected to Single Cylinder Engine-Com- pound and Simple Geared Hoists -C. I. Flanges and C. I. Flgd. Elbows Copper Tubes-Magnesis Covering-Rubber-Covered Cop-.

London, Mar. 11 (Reuter). Bar Gold, Fine per oz., 148/3. Dollar Parky, id. premium.

SECURITIES AND COMMODITIES

Messrs. White, White & Co. have received the following com-

per Wire--Linseed Oil-Turpen-ments from Messrs. Carl M. Loeb, Rhoades & Co. on the various tine-Coloured Paints-Alum!» New York markets:-

num Vehicle. Varnish and Enamel Paint-Iron Cement and Quigley Beal-IXION Bolt Stock, Taps and Dies-Asbestos Cement -Fireclay-Machine Screws and Nuts-Chain Pipe Vise-Tube Expanders-Faucet and Hose Bibbs Blue Printing Frame Stcel Window Frames-Wheel Barrows-Garlock Sheet Packing

Miscellaneous Tools Including: Wrenches, Vise, Files, Saw Blades, Augers, Drills etc., etc.

TERMS-Cash

on Delivery.

For further particulars; and inspection order &c., please apply to:

MR. E. V. M, R. DE SOUSA,

Auctioneer.

China Auction Rooms, French Bank Building, 1st floor. Hong Kong, 7th March, 1939;

í

SECURITIES

འ

FINANCE

MONDAY, MARCH: 13, 1939. —PAGE 11

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"

but also saves fingers and lips from stain.

FLAT

CRAVEN,

"A

C. VIRGINIAKS

Slip 50 seth

POCKET

your peckat for

the Weekend.

TINS

(Ideal for the Handbag or Pocket) of 20 and 50

also in

''TRU-VAC '.. TINS of 50

and PACKETS of 10

Made in London

Baturday, March 11,

The market is entering the Spring season in a conservatively confident frame of mind, with only, normal `forward commit- ments. Business is in a position to reap the benefits of im- proved labour efficiency and restored profit margins.

STATISTICS

Ward's Estimate of Productions...

of Cars and Trucks ...

Week ended 3.3 78,705

WHEAT

COTTON

Traders are awaiting new incentives.

Week end

10.3

84,095 units

Mills and commission houses were buyers. There was some hedging.

Eastern selling of distants' continyed

RUBBER

HIDES

There was some profit-taking.

COCOA

Dealers were selling, whilst consumers and commission houses were buyers.

Blades

H4

MABEL

LAMMERTS' AUCTIONS

PUBLIC AUCTION.

"NIKS"

A Guaranteed Cure For Hong Kong Foo

¡HE Undersigned have" received

Instructions

to sell by

PUBLIC AUCTION

PUBLIC AUCTION.

THE

THE Undersigned have received

instructions

TO SELL BY

PUBLIC AUCTION

ON

THURSDAY. the 16th MARCH, 1939

Commencing at 2.30 pm...

At their Sales Room, No. 35 Hankow Road, Kowloon.

A QUANTITY OF VALUABLE CURIOS

་

Old

Comprising:-

and

Porcelain, Pottery Bronzes, Ivory, Jade. Agate, Corne- lian. Amber, Crystal and Quartz Ornaments. Chinese Hand Paint- ings, Pictures, Embroidery, Carved Lacquer Screens and Table Screens, etc., etc.

On VIEW from WEDNESDAY. the 15th MARCH, 1939.

TERMS:-Cash on Delivery

LAMMERT BROS..

AUCTIONEERS.

I've always said

Craven A

are the smoothest cigarette!

MADE

SPECIALLY TO

PREVENT SORE quality

THROATS

MONDAY, the 13th MARCH, 1933

Commencing at 10.30 am.

At the Cosmopolitan Dock of The Hongkong Whampoa Dock Co. Ltd., Talkoktsui, “

43 REELS PAPER

and at 11.15 min.

At Godown No. of The Hong- kong & Kowloon Wharf & Godown Co., Ltd., Kowloon. »

1 Hogshead Tobacco Leaf store

in Godown No. 20. 47 Old Rubber Tyres stored in

Timber Yard.

TERMS: Cash on Delivery.

LAMMERT BROS..

AUCTIONEERS.

PUBLIC AUCTION.

THE Undersigned. have received

47

instructions".

to sell by

PUBLIC AUCTION

от

| TUESDAY, the 14th MARCH, 1939.

Commencing at 2.30 μm.

At their Bales Room, No. 2 Con- naught Road, Central, Ground

Floor.

A QUANTITY OF VALCÄBLE HOUSEHOLD FURNITURE,

and

Comprising

Hatstands, Divans, Wardrobes, Dressing Tables, Chests of Drawers, Dining Tables, Chairs, Sideboards, Dinner Waggon, Desks, Typewriter Tables, Filing Cabinets. Glass Cabinets, Bookcases, Rugs, Carpets Runners, Electric Heaters, Lamps, Cookers and Bollers, Radios,, Gramophones and Records, Cutlery, Aluminium, Brass, Porcelain and Glass Ware, Filters, Wash Basing, Cameras, Binoculars, Ornaments, Magazines, Cooking Utensils, etc, etc.

Biso

A FEW PIECES OF BLACKWOOD FURNITURE

And

3 Chesterfield Suites

1 Ashwood Bed Room Suite

Grand Father Clock

1 Upright

Collard

Piano "Collard and

1 Cooking Stove "Dover"

1 Typewriter "Ideal”

1 Geyser

1 Electric Refrigerator "Westing-

house"

1 Electric Refrigerator “Electrolux

Ltd."

On VIEW from MONDAY,

the 13th MARCH, 1839.

Terms: Cash on Delivery.

LAMMERT BROS..

AUCTIONEERS,

What do

you want ?

If there is anything you want to buy or sell try

amall Classified advertise- ment in the Hong- kong Daily Press.

25 words $1.00 prepaid for 3 insertions.