SHARE QUOTATIONS,
Stock Exchange.
H.K. & E. Banc
(London)
Chartered Bank
Morcantile Banks A&E
Mercantile Banks O
P. & C. Bank
Sharebrokers' Association.
Bárka.
. 1230 1230
1230
£130 £211
4291 131
£11
#
100
Marine Insurances,
765
".. 755
b. 270 A, 2.30 ■. 2..80/90, x, 2.90 a. 2.00/05
Bank of E, Asia'
Cantón
China, Underwriters
****$240
b.
272 45
Fire Insurances.
200
666
NorthChinn
Union
#Yanglaze
China Fires
H.K. Fires
Dougioses
H.K. Steamboats
H.H. Tugs.
Indos (Pre)
Indos Dat. Lon/Reg.
Indos Det, II.K. Reg.
Shell
Malabon
THE HONGKONG TELEGRAPH.
BANKS.
WEDNESDAY, APRIL 15, 1925.
BANKS.
BANKS:
HONGKONG AND SHANGHAI NEDERLANDSCH INDISCHE HANDELSBANK THE CHARTERED BANK OF
BANKING. CORPORATION,
Authorised Capital --
HEAD OFFICE: HONGKONG,
- $50.000,000 $20,000,000
£4,000,000
Issued, and Fully Paid-up
Rosorvo Fund.. Sterling -- Silver.
Reservo Liability of Proprietors
$28 800,000
$20,000.000
COURT OF DIRECTORS: G. M. Young, Esq. Chairma H. P. White, Esq. Deputy Chairman B.D.F. Belth, Esq. Hon. Mr. A.O. Lang, W. H. Boll, Eaq. W. L. Pattondon, C04 A.HI. Compton, Erg, J.A. Plummer, Esq Hon. Mr.P.H.Holyoak T. O. Weall, Esq.
Uhlof Manager
"
A. H. Barlow, Esq. Manager: Shanghal-0. H. Stitt, Esq.
LONDON BANKERS: WESTMINSTER BANK LTD. CURRENT ACCOUNTS opon-
Established 1863, *-
Pald-up Capital and Reserve Fund Glor....76,500,000 £6,375,000
·HEAD, OFFICE :—AMSTERDAM EASTERN HEAD OFFICE-BATAVIA.
BRANCHES:
Amoy, Amponan, Bandoeng, Bombay, Calautta, Cheribon, Gorontalo, Hongkong, Kobo, Makassar, Madan, Merado, Palembang, Pekalongan, Probolinggo, Rotterdam Semarang, Shanghai, Singapore, Boorabaya, Swnlow, Tegal, The Hague, Tjilatjap, Woltevreden
LONDON REPRESENTATIVE (-F. 8. Wright, 27, Old Broad Street, London, E. O., 2
CORRESPONDENTS --
INDIA, AUSTRALIA & CHINA.:
(Incorporated by Royal Charter 1883.)
sights, oxcopt the usual bowilder- ing glimpses of the characteržodies Chinese streets, shops and homeÉR It has, however, the not altogether: onviable distinction of being a key world city of 20,000 foreignors, of whom 1 500 are Amorioans.” Y, X- "There is a widespread protest in China" because of Shanghai's reputation as a notoriously i Paid-up Capital..
£3,000,000 oral centre: Intelligent Ch ..........................£3,600,000 gentlemen will not permit "their" Reserve Fund Reserve Liability of Proprietors£3,000,000 song to come to Shanghai aɛi
students, lost they be ruined by Foreign Exchange and General Banking the lax morals prevailing there. business transacted.
It is as attractivo as Paris and ag Current Accounts opened and Fixed cosmopolitan se Carle, but it Deposits raceived for 2 year or shorter)
outdoes both of these ontwem the application.
1
festive wickedness. The Shows- hai Club, one of the fashion soll es centres of dissipation, has a lar 110 feet long, the largest in thes world, which is all too 10
LONDON-Midland Bank, Ltd., Overseas Branch, Westminster Banks, Ltd.. perioda at rates which will be quoted on Foreign Branch. N. M. Rothschild & Bone and Swiss Bank Corporation,
NEW YORK Chase National Bank, Farmers Loan & Trust Co., Irving Bank-Columbia Trust Co., Goldman, Sache & Co., Now Yerkt Trust Co.
And in all the principal towns of the world.
EVERY DESCRIPTION OF BANKING & EXCHANGE BUSINESS TRANSACTED. CURRENT ACCOUNTS, DEPOSITS, etc.
od in LOCAL CURRENCY and FIXED DEPOSITS received for THE one year or shorter periods in Local Currency and Sterling on: terms which will be quoted on application..
Hongkong, 21st. Feb., 1994.
HONGKONG SAVINOS BANK.
3140
273
45
105
650
$2
361
4.30
120
83/
Ferries
87
Water-bonta
19.10
Oriental Navigation
255
Refineries.
China Sugars
66
62
524
Mining.
Benguet Consol.
b. 2,60, 265 2.65'
Kailan
57/6
Langkats Combined
271
201
S'hai Explor. Now Issue
b.
Rauba
3.30
31
Tronoha
567-
671.
Ural Cuspians
J
81
Docks Wharvey Godowns &c.
H.K. Wharves
101
#B.
K. Docks
121
b.
1923/3 118/1
Hongkow Wharvon
203
Now Engineoring
94
Shanghai Docka
125
126
Lands, Hotels & Buildings.
HK. Hotela (cum ris,)
Do.
b. 15,16, 16.15
(New) Prem.
H.K. Davenpments
ນ.
60cle,
H.K. Lands
4 40
-430
.
n.
3:90
n.
44
b. 20. 207
b. 201., 201
150
Cotton Mills.
*. 12
FX.
12
11 00
b. 3.00 3.00
3,20
b.
#
60
J2.
60
Hongkong, 7th. January 1825.
b.
301
33
Miscellaneous.
b., 21 sa. 22.10
司公理管業實法中
22.10
D 事件。
ទ
b. 321
县级。
$
SOCIETE FRANCAISE DE GERANCE.
H.K. Torrilaries
H.K. Realty
Humphreys Estatu
Princes Building,
Ewe Cottons
Orientala
ין!
Shanghai Cottons Old
Shanghai Cottons Now
Canton Ice
Comonta (cum ria)
Do. (Now) Prom Do, (Com.)
China Buses
Chias Light
Do.
Do,
Old Now (Com.)
Do.
Now
b. 15.30. 15.15.30
b. 70cls, s. 65/75ta,
b. 94.60..93)/94
10
26.30. 26.
654
164
48
140, 302 (40)
4C
40
18)
18
10.20
China Providenti Olá
Constructions
Dairy Farme
Dor A Wing (fp)
Do. (PP) Electrica
LK
Electrics Macao
Hongkong Ropes Old
II.K.
Beper
(Now) Prom...
Корея (Combined) Hongkong Tramways Lane Crawfords)
Mackintosh
Peak Trams
Peak Trams
Sinceres
Талія
Watsons
34
Old
'Wm. Powells
Nanyang Tub.
6. 48. a. 47/478
Hongtang April 15, 1925.
Now
Old Now
SHIPPING NEWS
The following local shipping and mail intelligence has beou
corrected to noon to-day;
Vessel
Linds
"Glenapp
Suzyong Taming Kiangsu Pres. Sackeon Pres. Cleveland
Van Overstraten Westland Helikan, Saga M. Tauruga M.
Shinyo Mt.
Vessel
Talamba
Mishima M.
Kwongang
Agents AP.C
D&S
JA
A O Line
Vessels Arrived.
Pacific tail. JCJL
Kwang Yuen Sing Thoresen & Co.
Kwongensg
NYK
TKK
From
London via Singapore
Date.
Balikpapon via Shanghai 15th April
Shanghai via Amay
Haiphong vin Holbow
Singapore vin Swatow
Manila
1
San Francisco via Shanghai-
Bolewan Doli vja'S'pore Bangkok
Bangkok
Bangkok via Kahsichang Tokohama via Shanghai San Francisco via Shui
Impending Departures.
(Compiled from our Shipping Advertisements.)
Agents P&O NYK
H & Co.
NYK P&O
Em, of Astralia CP9 Ld,
Mito M.
Sardinie
Minang Karmala Osaka M, Holenus
Mingaang
Kutsang Lvenon Ningehow Lecsang
Vesget
Sardinia Kargiela
Hakozaki M. Em. of Anin Diomed Hakusan M.
P&O
NYK
D&S
JBL & Co.
B&S
B & S
Destination
Kobo
Yokohama
Shanghai
Vancouver
London Kebe
The Business of the above Bank is conducted by the HONGKONG AND SHANGHAI BANKING CORPORA- TION. Rules may be obtained application.
00
INTEREST on Deposite is calculated
the on Towest balance during each cor- picted Calendar Month at 3 per cont per Should thero be no balance on any day in a month no interest will be allowed for
for that month
100.
Depositors may transfer at their option Balance of $100 or more to the HLONG KONG AND SHANGHAI BANK to be place on FIXED DEPOSIT at OUR- RENT RATES.
For the Hongkong and Shanghai Bank- ing Corporation. 1.
A, H. BARLOW,
Chief Mannger,
DE LA BANQUE INDUSTRIELLE DE CHINE. ETABLISSEMENT FRANCO '
CHINOIS.
(Incorporated in Franco).
5, Chater Road, Victoria, Hongkong.
HEAD OFFICE:
74, Rue St. Lazare, Paris,
BANK OF EAST ASIA,
LIMITED.
HEAD OFFICE-HONGKONG.
Authorised Capital Paid-up Capital - Reserve Fund-
DIRECTORS
P. MARKS, Manager.
INTERNATIONAL BANKING
CORPERATION.
(Owned by the National City Bank of New York).
Capital & Surplus.......U.S. $10,000,000
- $10,000,000 $,000,000 1,000,000
Hon. Mr. Chow Bhou Son-Chairman Fong Ping 8ban Mok Ching Kong
Wong Yun Tong
P.K. Kwok
Huyuh Tai
Barahona
Kan You Po
Barcelona
Pong Wai Ting
Chan Ching Shok
Batavia
Li Koon Chuz
Ng Ching Luk
Every description of Banking and Bombay Exchange business transacted Loans Calentia granted on approved ancurities,
SAFE DEPOSIT BOXES to lot.
KANG TONG PO.
Oblef Manuget. Hongkong, 16th. February 1925,
NEDERLANDSCHE HANDEL MAATCHAPPIJ. · (Netherlands Trading Society), BANK.
5
HEAD OFFICE:
wall Street, Now York..
LONDON OFFICE :
Canton
Cebu Colon
Dairen
Hankow
Harbin
Hongkong
Kobe
Madrid
La Vega Manila
Bishopsgate, E.O.
BRANCHES
Panama
Peking
Puerto Plata
Rangoon
San Francisco, Cal. San Francisco de Macoria San Pedro de Macoris Bouches
Santiaga de les Caballeros
Domingo
Shanghai Singapore Souroabaya Tientsin Tokio Yokohama
A. H. FERGUSON,
Bianager.
THE MERCANTILE BANK OF patronized."
INDIA, LIMITED,
HEAD OFFICE":
15, Gracechurch Strcot, London E.C... Authorized Capital .....
Subscribed Capital....
Paid-up Capital.......
Reserve Fund
BANKERS:
It is the fashionable rand- ezvous of the Far East To quality folk drive past the Bab- bling Well in automoblies of the- latest modele, much as few £3,000,000 €1,800,000 Yorkers frequent Central Park: .......01,050,000 in their stylish equipages. TherU .....£1,250,000 are handsomely gowned wGRADES everywhere, displaying the masti advanced Parisian fashiona."
"The Chinese areidevoted to the 'movios' and enjoy AmerÏ CONTEX films which are duly jexpounded by an interpreter, gestionat gr like an acrobat, at the side of thos I stage. Charlie Chaplin is thair
beau ideal of a comedian."
THE BANK OF ENGLAND, Midland Bank, Ltd.
BRANCHES :
Batavia
Kandy
Bangkok
Colombo
Dolhi
Karachi Kota Bharu Hongkong
Galia
Bombay Calcutta
Howrah New York Penang (Mauritius.)
Part Lonia Sourabaya Kuala Lumnal
Madras Rangoon Shanghai
Singapora
HONGKONG BRANCH:
Every description of Banking and Exchange business transacted.
Interuat allowed on Current Accounts at two per cent per annum on Daily balaners, and on Fixed Deposits at rater that may be ascertained on application.
J. B. ROBS,
·Acting Manager.
POOR OLD SHANGHAI.
Its "Vices" As Advertised.
•
"The boat hatole are the "Astag House, with 200 rooms PA elaborate modern improvements The Falace and the Savog" are. also entirely comfortable."
Eas
"The prices run from 5 $15 a day and everything is on porresponding scale. It costs £5 (gold) an hour for the hire of a motor car, and 30 conts (Mon) for a daily paper."
This is probably the But, af man," says "our contempo who bas heard the Chase. version of the Prodigal Son-lbs) one who instead of going tơm đ country went to Shaaba7. doubtless to, participate in the When the world was but a few "fastive wickedness here. The years youngar, hardly anybody rather a big claim to make ant
that Shanghai bothered about Shanghai, and
outdoes bat things were accordingly altogeth- Paris and Cairo in wickedness- er happier. To-day half the Paris (though no worse tha authors in the world seem to con- fother capitais) can do its fair sider a duty to say something share in that. line, but Chiro about the place, and Shanghai | there
time when THE BANK OF CANTON LTD. generally seeme to got it in the specialized as Shanghai hao merer
Commercial and Travellers' Letters of Credit, Bills of Exchange and Cable Transfers bought and sold. Current Established 1824.
accounts and Savings Bank accounts opened and Fixed Depozita in local and Hongkong Branch established 1906.
foreign currencies taken at rates that may Authorized Capital Guilders.150,000,000 bea ascertained on application to the Bank.
We
are also able to offer our Customers (£12,500,000) Paid-up Capital Guilders 80,000,000 the services of Branches of the Nations (£6,666.670) City Bank of New York in the principal Reserve Fund Guilders 20,045,032 countries of South America and in the (£1.670,419) West Indies."
G. HOGG, Sperial Reserves Guilders...... 22,660,000 -
(£ 1,888,330) HEAD OFFICE AMSTERDAM, Eastern HEAD OFFICEBATAVIA,
BRANCHES — Bondjermanin Kota-Radja Entterdam Macassar Sanieraug Bandoeng
Medan Shanghai Padang,
Capital Francs....... $10,000,000.00 Banbey
Reserves Francs
$10,795,000.00 Calcutta
Working fund provided by THE BANQUE INDUSTRIELLE DE CHINE
Francs 50,000,000
BANKERS.
FRANCE-Societe General Banque and Nationale de Credit, Banque de Paris et des Pays Bos.
LONDON Midland Bank Ltd. NEW YORK-Irving Bank, Columbia) Trust Co.
Every description of Banking and Exchange Business Transacted. Corre spondents throughout the world,
M. M. FITZ-ENRY,
Mandgor.
ORIENTAL COMMERCIAL BANK, LTD.
TEAD OFFICE:
80 Des Voeux Rond Central, Hongkong.
BRANCHES BANGKOK-
SHANGHAL Correspondents:London: West- minster Bank. Ltd: New York: National City Bank; San Francisco: Union Trust Co. of San Francisco; Canton Bank. Authorised Capital
35 000 000 Paid Up Capital.....
.......$1 E00,000 Modern banking in all its branches Current accounts savings accounts and fixed deposits solicited. Loans granted on approved soourity.
Oversons banking a speciality. INTEREST.-Current accounts 2 por cent savings 4 per cent, Fixed Deposits,
Singapore
Cheribon Palembang Soerabnin
Pecalonan Soerakaris Djember
Tegal
(Solo) Dinkjakarta Penang
Pontianak Tintjap and The Hague Rangoon Weltevreden
London Bankers-National Provincial Bank, Ltd.
Kobe
Correspondents all over the world. BANKING BUSINESS OF EVERY DESCRIPTION.
W. H. GROSKAMP, Agent.
THE P. & O. BANKING CORPORATION, LTD.
(Incorporated in England 1920) With which is ulliated THE ALLAHABAD BANK, LTD.
· INDIA. Authorised Capital Subscribed and Puid-up Eenerve Fund.
£8,000,000 $2,694,160 £135,000
HEAD OFFICE: 122, Leaderball Lundan E.C. WEST LONDON BRANCH: 14-16, Cockspur Street, London 5. W. J. EASTERN BRANCHES. Bombay, Calcutta. Karachi, Madrat, Colombo, Singapore, Hongkang, Canton and Shanghai. The Corporation undertake General Banking and Exchange Business of overy description and is addition to its Branches han Agencies in all the principal cities of
the world.
L. E. HOPKINS,
Manager,
3 months 4 per cent, & months 44 per 72, Des Vox Road Central, Hongkong.
Safe Deposit Boxes for Rent.
cent, one your par cent.
Our Vaults safeguarded by time clocks and double combinations.
Armour plata steel doors,
J. Y. LUM,
Manager.
BANQUE DE L'INDO-CHINE
(BRANCE BANK)
HEAD OFFICE :
-Sailing
16th Apr. 16th:
·17th.
17th
171h 17th
Budakan London Yokohama Suez
17th
18th
19th
1011
Hoihow
18th
THE BANK OF CHINA,
Culcutta
20th
Hamburg
2011
Glagow
20th
(Specially authorized by Fresidential
Capital Paid-up Capital - Reserves
Fr. 72,000,000.00 Fr. 60,400,000.00 Fr. 59,667,283.54
Haiphong
26th
| Mandate of the Republic of China on the
22nd of November, 1917.)
Impending Arrivals,
(Supplied by our Advertisers.)
Agents
From
P&O
Singapore
PLO
Shangkai
NYK
Suez
UPS Ld. B&S NYK
Shanghai Yokohama Suoz
Due Hongkong
16th Apr.
17tl;
20th 22#
27th
Consignees Diary.
(Compiled from our Advertisements.)
4th May
Vessel
Andre Lebon
Agents
GL
·RK
Goods Stored
Free Clalms Storage to be Expires
Examina
in by
tion Date
D9 L Kowloon Apr, 20 TKK
Kowloon Apt. 20 Kowloon Apr 20
Apr. 30.
Apr. 20
Apr. 22
Apr. 18
Ajur, 18
Apr. 19
Apr, 19
Denladi
Pra, Monroo Shinyo M.
Steamers' Movements. Philoctotes for Pacillo Ports luft Manila 13th inst. for this port and is due on 16th. Veznot will sail kange at noon on the 22nd April,"
Caleban from Now York left Manila 14th fat for this port and is due here on
06, Boulevard Haussmann, Parze
BRANCHES & AGENCIES: Bankok Hongkong Saigon Authorized Capital........ .560,000,000.00 Battambang Mengiso Paid-up Capital
313,278,600.00 Canton Braorve Fanda.5 8,670,425.24 Djiboati
HEAD OFFICE: PEKING,
HONGKONG BRANQUES:
.4, Queen's Roail Contral.
Europa,
Branches and Sub-branches all over China and correspondenta in America and other parts of the World.
LONDON BANKERS Thio National Provincial and Union Bank of England' Ltd.
The Guaranty Trust Company of Now
York.
NEW YORK BRANCHES-The
Shanghai
Noumea
Papers
Haiphong Hankow
Polting
Pnom Penh
Housi
Singapore Tiontein Townne Tladivestock Pondicherry Yunnanfu.
BANKERS:
Manager.
Queen's Road Central, Hongkong.
Head Office Hongkong.
Authorised Capital...
Paid Up Capital.....
Silver Reserve Fund..........
business transacted,
WA6 &
neck. One of the latent to join been able to do. this happy throng is a Dr. D. E. Leave that alone, howeVEJ
"fashion- £1,200,000 Lorenz who has written's book and get to the £1,081,875
Round the worldable centre of dissipation” $700,000 entitled the
Traveller," and from the with the longest bar Foreign Exchange & General Banking "Imprint" we, North China Daily the world. It is probably reart Nous, cull the following excepts like Dr. Lorenz who induce ther from the chapter dealing with globe-trotters coming here to China
invade ite sacred procinots, oftara "Shanghai is the Paris of the with a total disregard of the Far East, and bas 1,538,500 in- otiquette portaining to any clule habitants (1922), Although there If these people would only stopp are a million and a half Chinese talking about it or some oibaz people in the city, it does not place got a bigger one, it wortel, furnish any distinctive Chinese be a blessing.
Interest allowed on
CURRENT ACCOUNTS 2% per annum on daily credit balances of over $100.00
SAVINGS
4% per annum DEPOSITS
for 12 month 5% per annum
4
6
ور
on Demand 2% per annum
BRANCHES Canion, Swalow, Shanghai, Hunkow, Bangkok, New York and San Francisco.
LONDON BANKERS-The Lloyds Bank, Ltd.
LOOK POONG SHAN, Chief Manager.
THE YOKOHAMA SPECIE
BANK LTD.
Established 1830.
EARLIER
TELEGRAMS.
PRIVATE ENTERPRISE IN RUSSIA.
Moscow, April 14
According to the Rosta Agency, M. Rykoff, Chairman of tie Council of People's Commissaries, told pressmen that private entere
Capital (fully paid up)....... 100,000,000 prise would play an important part in the economic life of the Soviet-
Reserve fund to be altered to Y. 80,500,000 HEADOFFICE --YOKOHAMA, Branchies and Agencies at Batavia Kobe Soorahayn Bombay London Rangoon Buenos Ayres Lyons Ban Francisco Calcutta Los Angeles Beattie Changchun Manile Shanghai
"Nagasaki Singapore
Nagoya Shimonosete Nowchwong
Окаут
Doiron
(Dainy)
Fangties
Makdon
Hamburg
Hankow
Honolulu
Rio do
Janetro
Harbin
Kai Yuen
New York Tokyo
Peking S..
Intercala Baigon.
Tainantu
Tsingtau
Vladivostock
Current Account■.- Deposits received for fixed pericds at rates to be obtained on application.
Mr. U. ARIMA, Manager. Hongkong, March 11th 1005."
1
THE KO HONG BANK, LTD.
(Incorporated in the Straits Settlements.)
"CAPITAL: Authorized Capitál ...........
$20,000,000 Issued. 8,000,000
In FRANCE:- Comptoir National Paid-up_dow....... 4,000,000
Crostit Reserve Funds of share holders 4,000,000)
d'Escompte de
Lyonusin; Banque de Paris et des Ijesorvo Funds 630,000
Paris;
Puya-Day; Crodit Industrial Commercial; Socioto General,
et
1
HEAD OFFICE :-SINGAPORE. Branches Agencies and correspondenta in the principal cities of the warld..
In LONDON: The National Pro
vincial and Union Bank of England,
Irving National Banks. The Equitable1fd; Comptoir National d'Excompte Trust Company of New York.
Interest allowed on Current Accounts and Fixed Deporiti. Terma on applica tlun.
Every 'description of Banking business
transacted.
Lonas granted on approved securities. Special facilities for Home Exchange. THU YEE PEI,
Manager.
de Parle, Crodit Lyumbais.
In NEW YORK J. P. Morgan & Co. Intercat allowed on Current Accounts and Fixed Deposits according to arrange.
mont.
Evory description of banking and exchange business transacted.
A, LEOOT,
Manigor.
HONGKONG BRANCHES ( 13, Queon's Rund Contral. Every description of Banking and Excliange business trazancted..
LOCAL BOARD :.. Mr. Ko Leong Hoe (Chairman) Mr. Sum Pak Ming... Mr. Ng Chang Lak
Manager it. Han Liang Huang, Telephone No. Of 9006 anıl 4587.
Union for many years. Commercial operations had increased rapidly in the last few months, and neither State nor co-operative trade could augment their capital in a measure entirely corresponding to the general development of the economic life of the country. The basis of relations between the State and private enterprise must us healthy economic competition. Hindrance of private enterprise by the administration could not be allowed.
THE PRINCE RESUMES HIS TOUR.
Acera, April 14.
The Prince of Wales left this morning for Nigeria. He was given a great send-off by the local inhabitants and chiefs, while the occupants of scores of surf boats yelled greetings and hundreds of natives lined in the sea waist-deep-Reuter.
LIQUOR IN RUSSIA:
Moscow. April 14.. The newspapers report that the Government will soon authorzken the sale of liquors: up to 40.per cent alcoholic strength, which have been prohibited since 1914. At present no liquor of higher alcohol strength than 30 per cent can be sold. Reuter.
STATE OF BRITAIN'S TRADE.
'London, April 14, The Board of Trade returns show, for March, imports amountfi to 2112,801,000, and exports £70,308,000. Imports represent ne ‚increaso' of £2,713,000 and exports of £972,000 compared with the
February figures-Reuter
HOLLAND'S GOVERNMENT.
* Brussels, April 14.
The King has aked the Socialist leader M, Vandervelde to forız.
a Cabinet, M. Vandervelde le consulting his colleagues-Rantor
No comments yet.
Private notes are available after approval.