1920-12-03 — Page 9

U

NOTICE.

AMERICAN EXPRESS COMPANY.

America 1841

Established

Europe 1991.

HEAD OFFICE: NEW YORK CITY.

WORLD WIDE SERVICE.

Jusive Offices maintained at all principal cities la America.

Foreign Offices.

ANTWERP BARCELONA

BERLIN

BORDEAUX

BREMEN

BRUSSELS

BUENOS AIRES

CHRISTIANIA COBLENZ

HAMBURG HAVRE KORE

LIVERPOOL LONDON

MANCHESTER

OSTEND PARIS PETROGRAD

RIO DE JANEIRO ROTTERDAM ROME

SOUTHAMPTON SHANGHAI STOCKHOLM

LUCERNE

MANILA MARSEILLES

MONTIVIDSO

TORONTO

MONTREAL

NAPLES

COPENHAGEN

EDINBURGH

GENOA

"GLASGOW.

NICE.

GOTHENBURG

VALPARAISO

WINNIPEG

YOKOHAMA

7

In Process of Organization.

ALEXANDRIA CAIRO ATHENS

HAVANA

WARSAW

SHIPPING AND BANKING CORRESPONDENTS AT ALL PRINCIPAL CITIES AND PORTS OF THE COMMERCIAL WORLD.

OUR FACILITIES INCLUDE:-

Financial, Transportation and Travel Service.

Advice on Packing. Shipping Routes, Foreign Custom

Requirements.

Credit Information, Market and Trade Reports.

Financing of Imports and Exports

Issuance of Drafts. Money Orders. Travelers Cheques, and

Letters of Credit.

Bills of Exchange negotiated and collected Mail and Cable Payments effected.

.L

Commercial, Time and Sayings Deposits received in local

currency. Pounds Sterling. United States Francs. Pesa, Tael and Yen currencies.

YOUR ACCOUNT IS INVITED,

Dollars.

C. H. BENSON,

MANAGER.

Hongkong.

LITTLE FOLKS' CORNER.

ADVENTURES OF THE TWINS.

MR. TINGALING GETS A REST.

THE HONGKONG TELEGRAPH.

"But what shall I do whits you are repaiting my suit askell Tingaling, the fairy landlord, of Oliver Oriole, who had offered to put in gusseis, as Tingaling was getting so round and fat his clothes no longer fitted.

Oliver thought a minute, then suddenly he had a bright idea "Ein to bed," he suggested. "I'll call Mrš, Oriole to turn down the covers, and you can crawl in until your suit is finished. Vick and Nancy can wait hers with me, and I'll tell them a story while you're

resting.

"Oh," yawred Tingaling slipping off his coat, it sounds good -lo nie. Chitdream corean tell Oliveratious your monkey and per- haps he may be able to help you find him. Now, Oliver, where shall

{EO "

DECLINE IN STEEL

Independent Mills reduce Prices.

To the close observer it has bean perfectly plain in the past faw months that the American independent steal producers had no settled or uniform policy as to prices or the general conduct of thair business. They lacked the influence of their guide, counsel ler, and friend, the United States Steel Corporation, for nearly a year ago independent produzɔrs | bad begun to make a market of thair own, and by the first of this year the dissociation of the "inde- pendent steel marker" from the Steel Corporation's price schedul was complete.

FRIDAY, DECEMBËR 3. 1930.

ion of considerable length and remain in very strong financial. position.

As to the Steel Corporation, there is no prospect that its earnings will declina. The cor- poration has not had occasion to curtail its output, and is not likely to have occasion ovan should the present slackness in demsod last for several months. Some of the independents began curtailing production in September. At the beginning of the present quarter] some of the Steel Corporation | subsidiaries still had considerable stocks of finished products made on order, but

not shipped on; account of car scarcity. This material was carried on books ai cost and as it is shipped earnings will accrue apart from the earn- ings involved in the current out- put. It is conceivable, though not necessarily probable, that the Steel Corporation will show larger) earnings in the present quarter than in the third quarter.

The facility with which inde pendents individually elected to disregard the stabilizing influence of the steel Corporation was am- phasized, for since the war the independents have not confined their divergences to one side of the market. The Industrial Board pride schedule of March 21, 1919. THE CHINA SPECIE BANK LTD. was generally adopted by the trade

but in April and May following there were few, if any, indepen- dents that did not eat the Indus-St. trial Board prices, while the Steel Corporation adhered Ia those prices strictly and punctiliously.

HEAD OFFICE:-

George's Building. Hongkong Chairman of Board of Directors Mr. Wong Shiu Ham Chief Manager... Mr. L. S. Holum

BANKS.

'ASIA BANKING CORPORATION

· CAPITAL

(AN AMERICAN BANK)

SURPLUS & UNDIVIDED PROFITS:

TIENTSIN CANTON

BANKS.

HONGKONG AND SHANSHAF

BANKING CORPORATION.

Paid-up Capital

V.B. $4,000,000.

| Reserve, Funda

U.S. $1,439,000.

Sterling...

-Silvar

HEAD OFFICE: NEW YORK, USA

HEAD OFFICE FOR THE ORIENT:

SHANGHAI,

BRANCHES:

MANILA CHANGSHA..

HANKOW PEKING

All Descriptions of nanking business transacted. Interest allowed on Current Accounts Savings Accounts and Fixed Deposits in Local Currency, U.S. Dollars, Sterling or Francs

American Bankers Association and Quaranty Trust Company of New York Travellers Cheques sold by us, Payable throughout the world.

THE BANK OF CHINA.

(Specially authorized by -Pre- sidential Mandate of the Republic of Chins on the 22nd of Norem. ber, 1917.)

4.116,772,00.

In the summer of 1919 the last | Asst Manager... Mr. K. T. Wang of the independents had scarvely Foreign exchange and general | Authorized Capital.$80,000,000.00 reased cutting the Steel Corpora.banking business transacted. Paid up Capital. 12.279.800.00 tion prices.before other indepen- Current, Savings, and Riset | Reserve Funda dents began to talk of the desir-deposits bear interests at rates ability of prices being advanced 4 and 5%, respectively. and math after month it was hoped the Steel Corporation would act In view of the facility

I. P. ALLES. Hongkong Manager

TIME TABLE.

WEEK DAYS.

£ 13 ma

3

רות כן

with which independents have PEAK IKAMWAYS CO., LTD. changed their prices in the past year and half there are not a few observers who now maintain that if the independent steel market declines to the Steel Cor paration lece! it will not stop there, but that independents will cut the Ste Corporation prices in their effort to build up a clien- tele. Some observers erea mark that the Steel Corporation price is the one price at which an independen: will not sell, that either a higher price will be ex- arted or a lower price arcepte!

TWEI YP YEARS APQ There are not the elements for coherench among steel pre lurers- in the matter of prices that have existed at netures ike this i i the past when demand for steel fell of. In the "Gary dianer" period of 1908, for instance, the major part of the producers were sold approximately the same dia- tance ahead, and those who hat lean seder books had the opport- unity to pick up orders, so as to equalize their operations with the producers better situated Con- ditions at the present me are altogether different Roughly

speaking, the Steel Corporation is sold up for abou: nine months, some of the large independents are moderately well sold up for three or four months, a few of the large independents have little business ahead, and some of the small producers have parcels any business on books.

durers in such various positions y With the independentsteel pro general leveiling of the independ ent marker on a basis higher than that of the Steel Corporation, seems altogether improbable. Fet' a uniform market on the Steel Corporation basis. probable, also. If demand really seems im-

Mrs. Oriole had appeared by this time, so she took Tingling of to her spare room, where he was soon snoring loudly. The bore stays slack for several months, as swayed the branch up and down, and who, I should like to know,

ERVICELINE

用

Mrs. Oriole look Tingaling off to her spare-room, where

he was soon snoring loudly.

seems generally to be expected. there is the definite prospect that the independents will be operating at very considerably lower rates than the Steel Corporation. That, however, would be no new experi eces. The same thing occurred in the early months of 1919. decline, though if con. servative accounting, methods have been followed,

རྟབ has probably been the case, the quarterly reports may make a moderately fair showing. There

will be some reductions in casts. which have been mounting almost up to date, as some sup- plies decline in price and as labour becomea still more efficient. The independents have mide so much mony on account of their bigh prices that they should be able to pass through a period of depress

NIGHT CARS.

SATURDAYS. KAINA VAR 10 favent

SUNDAYS.

NIGHT CARS.

And Men fan

SPECIAL CARS.

BEARINGANEVE AT THE COMPANIE VORASLAY AMAZINGY. +24 TJEL

"For the Blood is the Life."

Sufferers

from Bad, Abscesses, Ulcer, Pen, Glandular Swaltungs, Ezema. Bois, Prupies and Eruptious, Gout. Abeumatisms, must trader that the sole saam way to complete and lasting rene! 2s to free the blood of be, per unos Wate manes, the one pave of sarā topbara, Cake's Giant Stefan puntelus "ingrubenis which 100 cues.

come and erzei The TIRAN that's who to mana PALAK PARK ADANA predat

Pleasant to take.

Cfa Chem?

Zate Sabertmanne

Clarke's Blood Mixture

VERNE CLAIR,

Acting Manager.

BANQUE INDUSTRIELLE DE CHINE. (FRENCH BANK) Authorized Capital F. 250,000,000 Subscribed Capital F. 150,000,000 Paid-Up.....

$13,000,000

ELADODUOS

$23,000 DE OF

Renette Lindility or Pomar'sters £3',&#16

-A

COURT OF DIRECTORS:

Ban MVR PARR-CALTO AD Campkan Ing.-Deasti Czarna

Q Duschreil. But G.T.M. King.

A. Gussar, Kış. Hon Mr. P.

Bom, Mr. J. Jokasäge

AD Gear Tog

W. 2 Portrozen Bug?

3. A Ptpor, DG.

Colt Masur Hong-K. J. STARK R

Khongbai–✪ 8, #TITS, Bea

LONDON BANKERS: LONDOR COUNTY WESTMINSTER

A FARK'S BANK, LIMITED. Carrat pogonala oğazed in land surreangs sad Pizmd Departed to me YAKE M iberiar periodi in keal entrvany and Kantug sa tarmi whiab witi be quoted in application)

N. J. STABB. Chief Manage:. Hongkong, March 1st. 1920

HONGKONG SAVINGS BANK.

TRE Be of the above Past is wonde hy the HONGKONG AND SHANGHAI BANKINS F. 75,000,000 CORPORATION.

Rales Day bar 302arked sa kyyllandian INTEREST es deposita la allowed the Kiai poachty balanosa at kig per ARULM

For 32 Rozier and Shaagual Baatia) Corporbitan

N. J. STABB.

་

Reserve Funds......F. 30,000,000 | Subscribed by the Govern-

meat of the Chinese Republic Chairman of the 1 Andre

Board of Directors) Berthelo: General ManagerA.J. Pernotte

.F. 30,000,000

"

HEAD OFFICE: PEKING

HONGKONG BRANCH: 20/21 Connaught Road Central Bran- ches and Sub-branches all over Chias and Correspondents in San Francisco. Singapore and Tokyo.

London Bankers The National Provincial and Union Bank of England, Ltd. New

Bankers-Irving Canton York

Trizanfu Jhunkerque Moukilen Fukebox

New York Vladivostock Pekin Yokohama

Trust Company.

HEAD OFFICE: 74. Rue Saint-Lazare, Paris. BRANCHES: Hongkong Shanghai London Singapore Lyon

Marseille

Antwerp

Bistaris Bordeaux

Interest allowed on Current Ac-Haiphong

counts and Fixed Deposits. Hakow Terms on application.

Every description of Banking

Business transacted. Loans Kranted 02 approved

securities.

Hansi

Swathw

Tientsin

Pom Penh Yuncanfe Saigon

BANKERS:

IS FRANCE: Societe Gederale.

pour favoriser le Developpe ment da Commerce er de

Industrie en France.

Special facilities for Home Iy LoxDOX: London Joint City

Exchange.

Interest on Fixed Deposits at the following rates:—

Fer 3 montha 32% per annum For 6 months 4% peranzum For 12 months 5% per annuma

and Midland Bank Limited.

Chief Manaz07.

THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA

tamarparated by Raval ("darler 135J.

PAIDES CAPITAL

RESERVE FUND

RESERTE LIABILITY De

PROPRIET S

£2,000 p

13, 100, 200

FOREIGN EXONANOR and Dayment Bas tag aziz 17kɔrdotaci

CURRENT ACCOUNTS

DEPOSITS set is, MS FIXED

· year of baths period a raniow which will be quotat ca ap

J. L. CROCKATT:

MADRZE Hongkong, 11th April, 1914.

BANK OF CANTON -LIMITED.--

IN SAN FRANCISCO: Crocker HEAD OFFICE HONGKONG

National Bank.

Cortespor dents in the Chief Cou- Lercial Centres of the World.

FOREIGN EXCHANGE and General

Telegraphic Address: CHIBANKIND.Transacted.

TSUYER PEI

Interest on Current Accounts Manager. { and Fixed Deposits in Local Currency and in Gold: Terms on application.

THE BANK OF EAST ASIA,

LIMITED.

HEAD OFFICE:-

No. 2 meer' Bead Cratral, Hongkeng Established 1910.

PAIT TO CAPITAL. REEF PUSD.

DIRECTORS:

"Everybody's Food Pariner."

NO ANG Sheng Sen,

Fort Ping Shan. 3R -->,

SAVARESSES

SANTAL CAPSULES:

PHYSICIANS RECOVOKED THEM, Of all Chenn

Marke in London.

MARTIN'S PIO & STEEL

for ham. PILLS

APreach Remeds the all ferngularitie Thousandest Larğını almaga keep a sze of Barus'e Palie in the Soumy, in cha to the Aze waga of mom frengularity st the Szetem a timely dose may be st ministered. Thom Ybo ya "hein recom- beat them, hence their easymous calP. All Camera and Stoess well there 125shnet the World, ne sont free 5.0. MARTIN, Cbrist, Southampton. Eac

MARTIN'S

PIOL & STEEL

$250Me SC PTO DO

Me Ka Yang Di NA MALEROg Kong My Wong Yar Tanz. My Chan Ching shek.

Mz Netbare tax

Wanizer. Mr Ken T-s

Are Manager L: The Fong

BRANCHES & AGENCIES:-

LONDON

SHANGHAI

KUSE

NAGASAKI

SINGAPORE

TIENTSIN

MANILA SAMARANG

NEW YORK

Every description of Banking and Exchange business trans- acted.

Special facilities for French Exchange.

M. MONTARGIS.

Manager. Hongkong. 151b October 1920.

BANQUE DE L'INDO.CHINE

(FRENCH BANK

Hand (fee: 15 Joe Rae Ludite, Para

Capital

Renstro

FRANCars AND AGENCIES.

Banking Business

INTEREST ON FIXEI DEPOSITS.

For 3 Months 3% per anne

For 6 Months 4% per annum. For 12 Months 4% per annum.

LOOK POON SHAN,

Chief Manager.

THE YOKOHAMA SPECIE BANK LTE.

Estorieaed 1980.

Capital Mallv pait up).... Rye Fu

1,150,000. ---— Y. 59,00 BEAD OFFICH. TOKOHAMA,

Brooches and Aganelen k Kal Tuen

Fraben

*,200,360 50.000

Kombat

file*

Canhus

- Pe'nt).

FT++

-naly

SAN FRANCISCO

TOKOHAMA

Bangkok Bronz PROS

SAICON

PENANG

HANLOW

Hos

WEATHER

Pages

From-Yoke

H

HE Tiratha Tutana TISANA

ROT

24SKERS

BATAVIA

SOURABATA

Unto Bankara —The Leptodate moth Misal Bank, Jod

Every desertion of Banting and Exchangy business transacted. Loana granted ɔn approved securities.

fatet alimwel na Pustas Zenit Areonat the match Two per cent per manteng Say Ink Account Four per cent. per and im, and na Fixed Legomate at the following maten.

Fr

For the wine rate of 3% AT HANUM

5 month wo tom endring $t per acasa. For 12 montbest theree of 5% beru

KAS TUNG pry,

Cine Manager

Honing. Desobne 147 5925.

THE INDUSTRIAL AND COMMERCIAL BANK, LIMITED.

Head Office: 6, Der Voraz Road, Central. Hankow Branch; Essias Concession.

IS FRASET: Tomatest Gangal 4Ex-

4

de Paris; Credit Lyalau sin; PA2700

Au Payza et dee Pays Ban; | induerent Commercial - Gezerain

IN LONDON: The National Prolacia vod Talent England L:.. Cam. Air Ratiomat d'Ebermaer de Paria;

IN NEW YORK: 1. P. Moresa fa

Interest low na Current Aconmase and1 Fixed Depoarta acer eding to arrangemeni,

Every defeription of banking sad exchange Speinem SEND KATTED.

Lo BERISDOAGTE.

Mazz

Hortrag. October 21et, 1833.

THE MERCANTILE BANK OF

INDIA, LIMITED.

flead mes 15. Graerah Beer, Londen, C. 1.

could stay awake under such circumstances. It was better than YOU CANNOT AFFORD TO BE WITHOUT THEMosits bear Interest at Rates Fat Catal

being swung in a bammock, or riding over billowy waves, or ever sailing in an aeroplane, although I'm not so sure about that, as I never was in one.

bestiazs.

Oliver cut out the gussets just the right shape, then set to work Nancy threaded needles and Nick snipped threads and pulled out

"Bz-z-z-z-anored Tingaling in the spare room, the sounds com ing down the ball.

"Snip, snip, snip," want the scissors.

"Punch, puach, punch," went Oliver's needle.

But there were other sounds! Much talking! Because, after{ the twins bad asked about Jocko (but Oliver declared he didn't know

JUST received a large Consignment of (1) LACTOGEN the most digestive food for Infants which keeps good in quality during Hot Weather; (2) LACTOSE (Milk Sugar) for sweetening the foods of Infants and Dyspeptics; (3) MILFORD-McGRATH FLUID INSECTICIDE the Best Fluid for destroying Fleas. Mosquitoes, Bugs, Flies and all other Insect Pests in Summer days; and (4) JOHN CAHILL'S GOLDEN FLEECE, MAGIC and CINDERELLA SOAPS for keeping everything clean in House

PRICES are Very Moderate. Inspection and Enquiries are cordially invited,

代糖粉奶牛蓛紧孖 SHIU FUNG TAI & CO.

a thing about him), the bird-tailor said he knew a poem and, if the,

Can you wait till to-morrow to hear it?

children would like to hear it, he would start right in.

(To be continued to-morrow.)

泰豐理

Sole Agents for Hongkong and South Chine

47 and 48 Connaught Road Central Hongkong.

Telephone No. 1239. '.

DOMESTIC & FOREIGN BANKING. SERVICE PROMPT. Current. Savings, and Fixed Autores Capital

Bubscribed Costa 2% 4%.5%, respectively.

J. USING LY, Manager. Hongkong, 7th July, 1919.

THE CHINESE MERCHANTS

BANK. LTD.

Reserse Fund

SANKERS.

£3.000,002

100.000 20.000 1.150.com

The Bask of England. The Loods Flat Chy à Midland Bas, Lid BRANCHES:-

Bombay

Cheuti

Colomb

Pul

GAR

Hongkong

•

司公限有行簸健身

HAD OFFICE

Alezzodra Buildings. Chaier Road,

Orvers Banking and Esɑbsage businers izan mated

Losas rracted on spproved securities.

Current Accounté apened and Fixed Deposits reerivad 11 rater which may be securitized 03 application.

The Bank alag + mate Barings Depart-

ment.

Hawk

Landt

Karachi Ente Bhara Isaia Loput Matra

New York

Penset RIDING

Shanghai

Port Lezle (Eetrisfzez Singapore

HONGKONG BRANCH

#very description of Banking sad fachange

buklaston (unusacted.

Interesi card on Curreas Adouble at 7 per dent ger anabm on Daily Balance, and Fixed Deposita et petes vblüb may be ascertained on application.

N C. WILSON,

Acting Manager

7, Queen's Road Central, RC LAT

Chief Kazages.” Hangtong. 12th December. 1813

Tik**

Losing

Ly

iza Angeīsa Was!

Newsw.g CUSTA

Kew Juck

PARIGE

POSTAJAJA Maigns

Jan Franc}++

-

Monchai

Bingapore Simon] }

Setary n

T

Tessalo

Y:scorte Tringlan

Tatermes allowed on Cartes: Ascani

Tapete premtend the axed period as rata

Sanktarget no application.

1.

O. RASHIDEUNA.

Kanser.

Braavong, 12m, September, 1729

INTERNATIONAL BANKINO

CORPORATION.

CAPITAL AND SURPLUS: E. . $13,000,00 USDIVIDED PROFITS:

R 13.299.000, Owned by the National City Band of Now Tos HLAD OFFICE: SA, Wall Street, NEW TORNJ BRANCHES :

LONDON: 34 Biebopmerase, 2. C.

LYONS: 27 Place Inla SAN FRANCISCO: 22 Montgomery Bi CHINA: Casto, Han, Herdig. F Hobiko Peking, Shangher. Fiestein, Tr DOMINICAN REPUBLIC: Poaria Plate, Sea

Pedro de Xscoria, Espabes Azating Sacto Domizzo, KasabonS. INDIA: Bobag, Cairasia, dangnos JAPAN: Inde, Yozokaza. JAVA: Batavia, Sourabaya PASAYA Coloo. Panama.

PHILIPPINE ISLANDS: Ceba, Magila. TRAITS SETTLEMENTS FIRzapore.

BRANCHES OF THE NATIONAL CITY BANK UT SEW YORK. CARGENTINA: Buenos Airer.

BELGIUM: Axi-urp, Brossels. BRAZIL: Baf, fernambuca. Part Alegre

Rio de Janeiro, Banton, San Patri CHILE: Bingo, Valparai COLOMBIA: Barranquilla, Bogota, Medzila CUBA – Havada and 22 altine La Gubu. | ITALY: SIROM PERG; LIN

PORTO RICO: Ponas, Han Juan) RUSHIA: Macow, Petrograd. SOUTH AFRICA: Espe Town, SPAIN: Barcelona, Madri TRINIDAD: Parent Apala. URUGUAY: Konten

(Monseridoo). VENEZUELA! Mar

Dala

Bondeas Condit BobYRI

acted

All descriptions of banking Vaino, zán Interest slowed on forent secounts and 1xed deposita in local or foreips onsstugice sa rases to be ascertained un applicati

6. MARSHALE

Hongkong, 17th May, L