1917-08-15 — Page 9

Indo-China.

THE HONGKONG TELEGRAPH, WEDNESDAY, AUGUST 15, 1917,

COMMERCIAL

which

ia

NEWS.

|

HONGKONG SHARE REPORT.

S-SELLERS; SA.—SALES; B-BUYERS: N-NOMINAL.

OFFICIAL PRICES. BANKS.

H. K. & S. Banks s.

MARINE INSURANCES.. Cantons North Chinas

nions Yangtszes

sold it to some of its regular 'customers who wisher au im- mediste supply of goods of this kind. Local dealers complain of the indexibility of the terme offered by American firms. The most usual complaint of this nature is that American firms demand caab, United States currency, fo.b. point of ship- ment. Before the war the almost universal method of esle was cit. Saigon, parable in francs per metric unit, hy 60 or 90 daye' London or Paris draft drawn on receipt of goode. The war bag H.K. Fires of course, made it more difficult to get goods from Europe, and in many cases American exporters have been able to impose their Steamboats conditions; but, with America's handicaps of distance and tariff, it will be impossible for it to bold" permanently any large portion of his trade on conditions more harsh than these cffered by its more favoured competitors. Some of the larger firms have com plained that American houses, of which they

STC

irying agency

Douglases

Indos (Def.) Indos (Preí.) S. Shells Ferries

Sugars

BANKS.

BANK OF CANTON,

LIMITED.

HEAD OFFICE, HONGKONG

FOREIGN EXCHANGE and General Banking Business Transacted.

INTEREST ON FIXED DEPOSITS:

-$650

$325 t. 140 $825

2

b. ex *8 $197 1 FIRE INSURANCES. China Fires

D 5.

$149

$300

SHIPPING.

a.

n.

b.

11.

$85 $18 $113 $40 190/- €29

For 3 Mouths 3% per annum.

For 6 Months 4% per annum.

For 12 Months 43% per annum LOOK POON SHAN;

Chief Manager.

REFINERIES.

C.

$96

Malabons

b.

$29

MINING

$4/6

t. 13

$2.65 25/6

241-

DOCKS, WHARVES, GODOWNS, &C. H. K. Wharves a. Kowloon Docks S'hai Docks b.

LANDS, HOTELS. AND BUILDINGS. Centrals H. K. Hotels Land Invest.

$75 $116 t. 78

5.

1.

$95 $100

1.

$91

b

$6,90

До

$33

sa

t. 77

b.

- $69

D.

$115

Kailans Langkats Raubs Tronohs Urals

Oriental Cons, · b.

United States Trade with French ageously worked by American not determine with any degree firme having American reproof sccuracy what will be the cost sentatives at Manila or Hong of the goods on their arrival anless The commerce of French Indo Kong. Or, if even this is they are shipped ai.f. part of Chins amounts annually to about impossible, a change in American destination. A further obstacle 100,000,000 dols, of

business methods would do macb to American trade here is that the 45,000,000 dols. represente im toward reducing the advantages chief importing and exporting ports and 55,000,000 dola of competitors in this market. houses have long-standing bus- represents exports. Nearly 60 Among the most obvious hindiness connections in Europe. per cent. of the imports (any race to American trade with These firma are French, Swiss, Mr. Lawrence P. Brigge, US. French Indo-China are freight English, Datch, German, and Consul at Saigon) consist of rate and delays due to distance Austrian, although of course the articles of native or Chinese and lack of direct commani- Germs and Austrian Erme have consumption that be reason of

Saigon cation.

the ceased operatione since the the character of the product or opposite side of the world beginning of the war. Some of cost of production and trans from the chief exporting section these firms are practically portation are removed from

of the United States, almost branches UF representatives, Earopean os American competi- qui-distant by the Saex and owned or financed by European tien. France normally supplies Pacific routes. This handicap houses. Others have a branch between 30 and 40 per cent. of the total importe through natural gives a great advantage to Euro office or a purchasing agent in

National pean and Asiatic competitora. The France,

sentiment monopoly or because of custom, pitastion is farther aggravated by plays a part in the commercial #language, business connections, the transhipments necessary bo- affairs of met people, and more

business methode, or discrimina

cause of lack of direct steamer with the French than with some tory import duties. This leaves services. These condition existed others. One of the most serious only about 8,000,000 dols worth in normal times. While the war handicaps to American trade in of in port trade open to the com- has done nothing to diminish this district is the long range petition of non-Oriental foreign distance or improve transportation, business methods pursued by Countries, although the war has it has unfortunately done mach American firma; for example, to iccrease freight rates and trying to sell goods by catalogues probably doabled this amount. Similarly, about 80 per cent. of lengthen delays. Other obstacles and correspondence, while their to get exclusive the exports go to Oriental coun- to American trade with French competitora send agents to the ask for a banking guaranty tries and 30 per cent, to France. Indo-China are differences in field and eatablish branch against goods shipped ou credit. The 12,000,000 or 15,000,000 dols Isogange and in weights and houses. While these catalogues While it is said that European worth of import trade now open measuremente. Language is per- have often proved very useful. firms ander similar conditions do to American competition consists haps the less serious of theas the firm which tries to sell an not impose such a guaranty this mainly of cotton and woollen

obstacles; still, an exporting article an agricultural imple- complaint loses much of its force goods, iron and steel, machinery, house is working under an ob meat, for instance-by photo when one finds the complaining hardware, petroleum, raw cotton, vious handicap if it cannot con- graph or description is obviously firm demanding a similar goar- four, glassware, automobiles, dect its correspondence and get handicapped in competition anty for goode shipped on credit Fabber goods, paper, soap, and out its catalogues and advertising with a firm which can put the

to one of the best known and Canned milk. Exclusive of rios matter in the language of the article itself in the bands of the most reliable importing firms in the possible American purchases country in which it seeks to sell prospective purchaser. la most the United States. One eome- in this market would amount, its goods. French is the com- cases, of course, it would be un times hears the complaint that ander normal conditions, to about mercial language of French Indo- profitable for American exporters shipments of American goods 8,000,000 dole, represented, in Chins. Most American ontslogues to established bratch housse in arrive in an unsatisfactory condi- order of importance, by hides, and advertising matter sent to the French Indo Chipa. Under the tione. In some cases it is said zinc, pepper, rubber,

Reclamations Cop, Saigon Consulate and to business conditions here the best alterna-that, either by error or by sub- fab oil, silk and silk goods, men in the district are printed tire would seem to be to select a atitation, the wrong goods have lacquer oil, tortolan shells, tin. either in English or in Spanish. competent and reliable represen been Bent. la other c1608 wolfram, Tonkin mats, anniseed ference in measure. .ente la stative, give him an exclusive measurements are wholly or par oil, tek, rattan, castor oil, poulperious obstacle, particularly in agency, and, in case of goods tially wrong. These complaints, try, feathers, lac antimony, such commodities aa bolts, barre, needing demonstration,send him a however, are somewhat unosna). coconut oil, albumen, and 288 rod iron, iron bars, machinery,

A more common scarce of ac- Talke. The value of American and parts of machinery. In such

noyance is careless packing. Ship- goode imported, directly

articles the metric system of indirectly, in French Indo-China mesrarement in used exclusively zanges from 1,200,000 dola. to in French Indo-China. Some 1,800,000 dola. per year. Petro American exporters of this kind leum and four constilate mear of gooda prepare their wares 75 per cent, of this amount; iron

according to this system of and steel, machinery and hard- measurements, but this is not si ware, autombiles, sewing ma-

One bears fre- ways the case. chices, canned goods and type, quent complainte of waste from writers follow

this capsed in the purchase of importance. In 1814 the cotton American iron and steel products. mille of Tonkin imported about American textile goode which 150,000 dols, worth of American seek a market' in this district are cator, and before the war a Ge:- Dearly always prepared sad quot mic firm used to import a cargo ed by the yard. Lack of know of American pins every three or ledge of local customs sad styles four years. AL American

or lack of adaptation to local con- Tetroleum comping bag of ditions is sometimes a serious trade has been almost wholly the extension of indirect, i.e., Ireal firme bave Too often generally found it more con-

ces

in

10

order

or

of

the swo principal obstacle to

French Indo Chipa American trade. of

sample shipment of the gcode. In the case of agricultural imple ments and small machinery it is sometimes necessary to have some kind of local representative cu the ground to see that the article. is given an intelligent and estie. Before the war factory try oaf. certsin European firms followed this policy. It has already been' pointed that the United States. great opportunity for trade fo Fresch Indo China-lies in iren and Heel producte, including nearly all kinds of machinery and bardware. American products of this group have met with an increasing als bere during the past

few

seara, but this

and coil agenta in the interior American firms seem to depend venient to parobase American

porty.

American four salesmen canvase this district regularly; represent ative of Americas automobiles and sewing machines. visit this territory occasionally and sre represented bera by local agencie and American typewriters 8.

represented by local agenta in all tbe principal cities. Ou the method":

on foreign trade as an outlet for

their surplus stock rather than as

goods of non-American houses ja Hongkong and Singapore than to

a dietinet market to be studied deal direct with American house?.

and coltivated, No Erm deal-The danger of this indirect trada

in articles subject to styles is two fold:-(1) The trade rela

whim date, or

t depend on babit, personal tione established by, the local can build up firms are not with American 8 permanent and creditable bogees, but with non-American Blong as it firma who will substitute noo. foreign trade

to blame the American house for

fro It

properly introduced. American & Ураг

Over

menta sometimes arrive, with packages broken and goods damaged.

99900

YAL

YALE

Hardware

The Tale à Towns Milɛ. On, 2

MUSTARD & CO.

H'phreys Est. Kloon Lands

S'hai Lands West Points

J. t. 162

COTTON MILLS. Ewos Kung Yiks Shai Cottons Yangtszépoos II. Orientals

BANQUE INDUSTRIELLE.

DE CHINE.

Capital (14 Paid up) ... Francs 45,000,000

President

André Berthelot Geteral. Manager A.J. Pernotte.

HEAD OFFICE: ··· 14 Rue Saint Lazare, PAKIS BRANCHES in PEKING, SHANGHAI, Į

TIENTSIN and HONGKONG.

BANKERS.

In FRANCE: Société Générale peur favoriser le Développement du Com- merce et de l'Industrie en France. In LONDON: Londen County & West-

mizater Bank, Ltd.

In ITALY: Banca Commerciale Italiana.

Telegraphic Address : CHIBANKIND.

-Interest liowed, on Current Accounts and Fixed Deposits. Terms on application, Every description of Banking and exchange babiness transacted.

M. ROUET DE JOURNEL,

Manager.

Tel. No. 2352

BANKS

HONGKONG & SHANGFAL RANEING CORPORA

TION,

Paid-up Capital .........$33.000,CD# RESERVE FUNDS:-

Sterling

£1,500,000 at 21-

-$15,000,000

Silver $18,500,000.

Reserve Liability, of

Proprietors.....

133 500,059

--- $35,000,000. COURT OF DIRECTORS.

Hos. Mr. S. E: Dodwell, ~ftzirgo. Fee. Mr. F. E. Boyrs-Ders Chalti Hos Mr. C. E. Antor, F. C. Eriches, Esq. 18.7 M. Sexing le Cirita 2.0. ED. Patr, Ex

- A. K. Compto

W. Patterdes

CUIAOZR Sougiant-N.J. Stat. Big.

MASAGAR

Shraptam. G. Stephen, Exa

• Loaden Zanters-London CLOSET WOR

Wesamiquer, Ämized

Hongkong-Interest Allowed

On Carrent Acomestest the sale of 8:90%

gnum on the daily belance

UN FIXED DEPOSITS

For 3 months, if per cent per BÄDDAR

ment percezi per atta

For

For it mentas. 4 per cent per ansta N. J. STAB5.

Chief Manager

HONGKONG SAVINGS BAKE.

THX Basloess of the above Bauk is concèerad 18 HONGKONG AND SHANGHAI BANKING CORPORATION Rules may be omajand co applicatica INTEREST os deposits allowed on the go. Iman moetbly balances at 83 per och per even Depositors may transfer, at their eption, ba ct'$100 or more to the

CEAL. per AADC.

DEPOSIT at t

Bank to be placed ca Hogar and Faustbe For the Hongkong and Stanghal Backing Caper

N. J. STABE...

Chief Managel

ricc

THE CHARTERED BANK OF INDIA, AUSTRALIA AND

CHINA.

HONGKONG BRANCE: b. & sa, t, 15.50

'S, Queen's Building.

Hongkong, 14th May, 1917.

MISCELLANEOUS

Borneos China Light & P.n. Providents Dairy Farms.

t194 t. 5,75 1.42

1.

n,

$7 $1,50 $7.90

$23

Green Islands

sü.

$7.10

H. K. Electrics

b.

$48

H. K. Ice Co.,

D.

# 151

Ropes

n.

$27

Steel Foundries

b.

$11

Trams, Low Level . x. d. $6,20

Trams, Peak, old n.

$3,10

Trams, Peak, new'n.

cts. 90

1.00 AM

Laundries.

b.

$3,40

21.

$19

1.

$6

ZA

5.

$6,50

20.

SELLING.

T!"

(YALE)

Demand 30 dis.

2/10 2/138 2/10

60 d/s..........

2/103%

Locks and

4 m/s....

2/10

TIT Shanghai...

Nom.

T/T Singapore

12056

T/T Japan

1314

T/T India

Demand, Indis

Nom.

T/T San Francis-1

co & New York)

6716

TIT Java............... 16014

T/T Marks........

Nom.

T/T Franca

3.9212

Demand, Paris

3.93

BUYING.

4 m/s: L/C...

2/11

4 m/s. D/P.

2/11/

6 m/s: L/C

2/11/4

30 d/s. Sydney &

Melbourne......!

2/11/4

30 d/s. 8an Franc-1

isco & New York

4 m/s. Marke

6834 Nom

4.0512 4.10

SOLE AGENTS.

NOTICES.

NOTICE.

DEAK TRAMWAY CO.

LIMITED.

TIME TABLE.

100 7.3 to

Incorporated by Royal Charter Jegi

FAT (FFICE-LOFTON, PAID-UP CAPITAL FACE RESERVE FOXD

RESERATE LIABILITY OFbc.o

PROPRIETORS

Etc.co

TOREIGN EXCHANGE and Geters: B

basin rasacted, CURRENT ACCOUNT opened and ¥423 DEPOSITS received for 1 year or secṛter partier, e rates wbice will be coated ca applicatiera

T. C. DOWNING.

Kapape Hongkong, 11th April, 1912

THE MERCANTILE BANK OF INDIA, LIMITED.

Head Office 15, GracechorCL

Street, London. Authoriseaapital ..........£1,500,000 Subscribed

Paid Up

Reserve Fund

•

...... 1.135.000

BANKERBE

562,30€ 600.004

The Back of Eaciare. The Lander ieint Stock Bark, Šlinti vi

BRANCHER Kembay

200 x 10:00 AM.

EVENT IS MIK.

Colombo

Delti

151

Galle

18 M.

10 M

E.BOX 2.00P.M.,

M

10 MIN.

10 m.

25 33.

1 M.

10 MIN

Hongkong

Howrah

Kindy

PABAYA

PERING.

PULITO

Kazachs

Kota Bhar

Kuala Lum

Madras

Respost

Shephat

ЅІпрадств

obtainable from all Cigar Merchants,

DISTRIBUTORS FOR BOUTH CHINA:

H. RUTTONJEE & SON.

U. Waterboats

Watsons

Wan. Powells

Morning Posts n.

CORRECTED TO NOON WEDNESDAY

AUGUST 15, 1917,

BENJAMIN & POTTS,

Share and General Brokers,

Princes Building.

Tel. address: Broker.

EXCHANGE.

4 m/s. France

6 m/s. Franca

Nom.

Demand, Germany. -- Demand, New York. 675% TT Bombay Demand, Bombay ... Nom T/T Calcutta

Demand, Calcutta... Nom. Demand, Manila 135 Demand, Singapore, 120%

On Haiphong 54% prem On Saigon

5%

On Bangkok... 5436 Sovereign

7 Gold Leaf, per oz... 41.40 Bar Silver, per o.... 4214

SUBSIDIARY COINS

DISCOUNT PER $100 V Chinese...20, cts. pieces 1. %du. Chinese...10

1. %dia. Hongkong 20 cts. pieces par. Hongkong 10

180 AM 15 26.00 6.30. 10

1657.1. LA

1002.22 10

11.00 A.M. 15.6A.M

1.10 .M.

1.45 7:34

IBP.M.

1.50 7. 8.00

NIGHT CARE,

5.80 L And i mac 1.00 to

11.40 3.3. wvery half hour.

11:00 P3: 116 PAL avery quarter of an hour. SUNDAYS:

10AM 600 to

2800 Bows Le

10.30 AM. 11.00 AM 19.00 Noon

1.00 . 1.30 PM 1.00 .

EVERY 18

NIGHT CARS as'ou Week Days

SATURDAYS.

Extra Car at Midnight.

SPECIAL CARE

By Arrangement at the Company's Ufice. Alesandra Eufidings.

Des Vos Road"

*Season and punch® tickets avaliable for all BATH BOR KİTBAĞy fan, Tunning sa the dime siæled by the Company's time tables, but not for special HAPE, CAD be obtained on application, at the CompanŢI Office - No Breon, ticket will be leaned antil payment thereier baa beez made 2 Bank Home or by Chegas or Compradore order representing Back Not

JOHN D. HUMPEREYS &Co

THE CHINA PROVIDENT LOAN AND MORTGAGE CO., LTD.

(Capital Paid up...$1.250,000.)

Teens on Mortgage of Hosan Property, da CROCK IMORÍVaðľmi Harage. Advances zoada on Merchandise. Losos zonde en the Providers System.

>TEUSYTEM EXECUTOR OF WELLE. AUTOREST, Jn. Undantakan and Eraented. Rates and Paritelars on application) To the flow ch

SHEWAN, TOMES & CO.,

General Manasera.

MARTIN'S APIOL & STEEL JAZZPILLS

5 French Rumady for alľlepiacavities, Kayakla da son house, so boas de Sims don men of any draculiany of the system S C My Cous may be adiaínatarvé. Those who

lies Chatelia and aitonas peli 12

12sms, besace Baccanop

Liber Strenghost for Varik, or post True BS, KOTEZIK, COmdat, Hastham gian, Big,

MARTIN'S PIOL SSTEEL PILLS

Fen Letts (Maorities.)

HONGKONG BRANCH

Every descriptice af Banking and Excus beatzeak trang scien

faterest allowed on Current Accettat

per sunum on Daily Ealances, med en Flasc Degest at rates which may be ascertained ca appilcarica

C. CHAMPKIN,

Acting Manager.

INTERNATIONAL BANKING

CORPORATION.

.HEAD OFFICE:

55. Wall St., New York

LONDON OFFICE I af. Bishopspare, LL

CAFITAL & SURPLUS C.6,500,000 UNDIVIDED PROFITS US$1,610,000

BOMBAY

CALCUTTA

CANTON

LEEU. COLOX

BANKOW

LONDON MANITA

MEDELLIN

| HONGKONG PLATA.

KOBL

..

UF. #7.510,606

FAN FEDRO

DE MACORIS. SANTO DOMIN SAN FRANCISCO SHANGHAI SINGAPORE

TIENTSIN YOKOHAMA,

PFAN PRE-

-Through its close tier with She Nethe City Bank of New York, the Bankis able to cure the Services of the Branches of that fostitution in Cape South America, and elsewhere, Bandy:

PAHIA, PUENOS AIRES, GEKOA, HAVAP & MONTEVIDEO. RIO DE JANEIRO SANTIAGO DE CUBA TANTOSE SAC PAULO. FETEOGRAD VALPARAISO,

All kinds of TFOREIGN & LOCAL BANKING BUSINESS encred

CURRENT ACCOUNTS epened and PIXEL DEPOSITS received at rates to be escersized or aplication

GEORGE-HCGG,

Mager.

Hongkong, 26th September, 1916

THE

YOKOHAMA SPECIE BANK

LIMITED.

Established 1880. Authorised Capital Yen 48.000.000 Paid-up Capital ... In. 36,000,000 Reserve Fund...... 21,300,00€

Head Office-YOKOHAMA

Branches

Antang Heden Bombay

Caletta Changchun

Dairer

Feastien

Harbin Haskow Henololc

Kobe Lino-Yoog

London

Lyons

New York

Friing Ryojor (Kep Arbor

FAD FEAT

tigres allowed or Corrent Accounts. Depostm received for tized perioda at rates to cocaine an application.

FISHI ONO, Manager,

· Hongkong, 18th[July, 1917,

of introduction of these products considers it foreign market sim. American goods as soon as con- no comment is needed. While ply sa arjanet to its domestic venient; (2) the local firm is likely American cotton and woollen market. Ou the other hand, some goods, canned milk, and certain American styles have such ob- any delay. A local firm ordered s o her products might have found

rious advantages in taste or com- qasality of iron and steel of an amire extensive role in this fort that they would probably American boase through a non- market daring the past two of replace Iccal styles if a little care American

io Boog three years, America's weeted

wäited opportunity bas been in the were taken to see that they were kong.

and a

balf, and domain of iron and steel product.aboes and cost shirts would pro- finally discovered that the Hong- During the past two year, tably sell in this market. Ám-kong firm had received the French Indo China has been

erican agricultural implements shipment long before but had cat from European iroo and

would undoubtedly find a wider steel markets and compelled 10 ile here if they were more gener purchase American products. In ally known. Another serious this field the United States bas obstacle to American trade ie the

taken advantage of its

matter of banking facilities and opportunity. There has been no

exchange. There are no American Eerious attempt to work the banks bere, and no American market and establish permanent exchange is quoted. The local business connections. On the unit of currency is the piastre, other band, when local firms have, which has no fixed ratio in any quite unsolicited, turned to other currency, bat follows the 'America for the parchase of

price of silver. American docn- American products, pertain

menta are generally headled business methods have made it through Paris or London, or very difficult for them to obtain the required grade. The market both, and American exchange for iron, steel machinery, and depende on the price of silver

not

and the

intricacies of ex

hardware is a large and growing change between these various one. Next to cotton goods, it is countries. Excepting the Banque the largest market in French de l'Indo Chize, which is also s Indo-Chins, and it is probably bank of inane, the Saigon banks the field capable of the greatest make their profits almost ex faters development, certainly the elusively on exchange, and they field of greatest possibilities for American trade. The market for are not doing business at a loss. The chief handicap to American these products seems to be saffi-trade arising from this source is ciently large and efficiently promising to justify the establish that, by reason of the complexity mnt of an agency at Saigon. If of this excharge and the time this seems impracticable, certain required to receive goode from ly this ferritory ouuld be adrant America, the local purchaser can-

LA

INSULAR CIGARS

1HE OLDEST CICAR FACTORY IN MANILA

Best Quality Leat. Best Workmanship..

Finest Aroma. Lightest Colours.

prem

Nom

PRODUSRÓL 2 Lanie siswry Lane 1. WE CE

Log Angelos

Tangtau

כי

Agencies SARIZAL

*Nemciwa?!

Shangha Sydney Kinepore

Mabling

Tanteix

Tokyo

THESOTE