1935-10-10 — Page 6

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TELEGRAPH. THURSDAY, OCTOBER ⠀ 10, 1935.

NOTES OF THE DAY

THE NEW CAVALRY

Nothing can bolter typify the disparity between the forces at present in conflict in East Africa than the episode reported from Samar yesterday when raiding Ethiopian cavalry were met; and allegedly routed by Italian bomb-

PROGRESS: The

STORY of

A BANK.

"Expressions by a Noted Authoritying and pursuit planes. Men who in all matters pertaining to motor recall the fighting in the Great ing"

War and the helplessness of in- fantry and cavalry against air- craft, even when-protected to some extent by artillery, will appreciate the plight of the black horsemen of Ethiopia who sought to take the ita history. town of Samar in Eritrea in a counter-thrust against the Italians,

Sir Malcolm Campbell's opinion of the 1935 MIRACLE RIDE STUDEBAKER given in his article which appeared recently in "The Flold" concludes with

"Altogether, I consider the New

NO-DAY, the. Hongkong and Shanghai Banking Corpora- tion enters another chapter in

Its rise. to Its present

Studebaker a very good car in Apparently they were met near Jeminence in the Far Eastern deed. Quiet at all speeds, very their objective, by the new cavalry financial plane is one of the smooth and easy to handle, quite fast on the level-70 m.p.h, is of the air, death-dealing puranit romances of the Colony and of well within its compass-good planes which dived upon them banking, not only in the Enat,

but anywhere in the world. on hills and with excellent acce- with streaming machine-guns, and loration on all gears.

One has but to delve into ita It im- the heavier and perhaps deadlier presses me as being excellent bombers which dropped high ex-past history to realise how great

A. S. WATSON & CO., LTD. value in the £300-E350 class, plosive into their midst. It is an tree has grown from the small

It is a car that I think will appeal picture which does not bear detail-seed planted by a group of far- to a very wide section of Britished scrutiny. The Ethiopians were sighted business men in the old

routed, so Rome's communique tells [days of Hongkong."

motorists.

ECES

us.

Stubbs Road:

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Phone: 27778/9.

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Inspection Invited.

The

HHongkong Telegraph.

THURSDAY, OCT. 10, 1935.

"THE BANK”

To-day, the "Double Tenth," is

a red-letter day in the history

of the Colony, marking, as it

does, the opening of the new

#

An artist's impression of the new Bank building.

planes cannot spread such devasta- April, 1845, being a branch of an stitution had already obtained for the sum of $60;000, Ward-

tion as on the open plain,

Here was a costly lesson to In about four years after this the defenders of Ethiopia's in-island became British, only one dependence. Perhaps they will bank had been established. An The Bank was opened on Wardley House (hence Wardley profit by it and confine their activi-old newspaper of the Forties January 1, 1865, with Mr. V. Street). This was situated on ties to the shelter of their friendly states that the Oriental Bank Kresser as the first Manager.

part of the site, now occupied. hills where bombers and pursuit was established in Hongkong in

In a little over a year the in- but. was purchased early in 1866 The place was originally rented, unchartered joint stock bank such a firm footing that it was ley House was which had been started in Bom: decided in February, 1866, to 1882 to make way for the con- bay, had expanded and opened form it into a corporation by struction of the old building on demolished in branches in several important OPPOSITION EXPECTED

charter. When Dent and Co. the present site. Eastern centres. This bank

failed in 1867, the mercantile Opposition to the League of issued notes, payable on demand Nations' sanctions plan can be ex-in what was termed "Colonial depression affected the Bank,

From 1883-1884, the Bank pected, even though the penalties currency."

which had also to bear some was accommodated in the offices losses connected with that firm's previously take a comparatively mild form. Those nations which depend Inrge-

occupied by the

S. MOUTRIE & CO. LTD. state of eminence to which the try, in spite of its bursting gold

York Building.

WALK in COMFORT

But

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Loss

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MADE, IN ENGLAND

EXPRESSLY FOR

Chater, Road.

In 1860 this concern had de- suspension of business, yet its P. & O. Company, situated west

ly upon Italy for their export tradeveloped into the Oriental Bank position was so sound that the of the present Central Market. may be faced with a difficult de- Corporation, situated in Queen's period was weathered without on the corner of Jubilee Street cision. Hungary, for instance, was starving until Italy opened Road, but by then it had a num- much difficulty, and the locally- and Des Voeux Road. her doors to the peasants grain ber of contemporaries who had formed bank emerged establish-

Reference to the purchase of crops and Italian money went to established themselves during ed more strongly than ever in

additional land for the erection Buda-l'est. Austria has good rea- the past fifteen years, these the public's confidence.

of a new building was made at gun to remember the formidable being the Agra and United Ser-

Further periods of acute de- the half-yearly meeting of the force which Rome possesses and vice bank, the Chartered Bank, the value of friendship there, for the Chartered Mercantile Bank, pression

were encountered in Bank in August, 1882, when it Head Office of the Hongkong and it was Signor Mussolini's challenge. and the Commercial Bank of 1874, and 1875, but the Bank was stated that the Corporation Shanghai Banking Corporation, many believe, which prevented the India, all situated or Queens gloomy prognostications, and by adjoining their premises and it came through well, despite had lately acquired property German Nazis crossing the Aus-Road, practically the only im building of which both trian frontier in 1934. Moreover, the premier

financial house Prince von Starkemberg and the portant business throughfare at 1876 prosperity was again the was contemplated erecting it

general order of things. The suitable building on the site. of the Far East and the Colony Royalist element in Austria, be- that time.

corporation had paid excellent as a whole may well feel proud. restoration depends upon the back- lieve that their chief hope for a

Three years later, in 1863, dividends through a number of

The site on which the 'new ww find these banks, still in years, and by the Eighties was building has been erected is the [The structure which it replaces ing of Italians. Here are. econo-

and which did service for samic and political reasons why existence, but two more (one a recognised as one of the most finest in the Colony of Hong- Austria and Hungary may hesitate French concern) had come into flourishing and substantial in kong, and the building is worthy many years, pretentious though before falling into line with the being, the Central bank of stitutions of its kind. It might of the site. It covers the site It was when first erected, was League sanctions plan, in mite of Western Bank of India, and be mentioned, as an instance of of the old Bank and, in addition, hardly in keeping with the needs pressure. Switzerland, tho, has Conpoir d'Escompte de Paris, the Bank's standing, that the that of the Theatre Royal and of modern times or with the times are hard in that little coun- Commercial

economic interests at stake. And Incidentally, the Agra Bank and Imperial Government of China Wardley Street and extends the

Bank suspended in 1874 contracted a loan with full width of Statue Square.

and this the Bank of $600,000 ut eight Bank has attained. To-day, the vaults. Further, in addition to payment in 1866,

these considerations, the neighbour caused a great deal of un- per cent. for which it pledged Bank is magnificently housed in nations of Italy suspect that eanceasiness and gloom in the city, as security the revenue of the premises which are tribute to all tions may lead to a war and that though the crisis was tided over Chinese Maritime Customs. who have had a part in their they may find themselves the bat-without any very serious effects.

The branches of the Bank construction, both for the amaz-tle-grounds. Their hesitation to declare against Italy can be

which have been opened in vari- ESESRESSES ing organisation which has en-understood, therefore, even by TT was in 1864, while six bank- ous important centres all over

abled their completion in such those who believe in the efficacy ing institutions were already the East, with agencies in vari- OF rapid time and for the splendid and necessity of economic or even flourishing here, that the Hong- ous parts of the world, have workmanship put into a truly law state.

military action against an

"out-kong and Shanghal Bank had its seen further developments in impressive pile. Despite the

Inception-n, bold step, but as the building up of the financial events have proved, throroughly institution. Its present author- We Went To Gaol When We continued effects of the depres

justified.

ised capital is $50,000,000. sion, a note of optimism was

Opened Our Last Bank struck by the speakers at yester-

In July of the year MessTA. Hongkong welcomed Shanghai's day's ceremony.

Mr. Dodwell's interport bowlers yesterday after Dent and Company (afterwards THERE is much of interest in reminder that the old Bankarst match here a short time after issued the prospectus of the Bank until it came to occupy its noon and the visitors played their affected by economic disaster) building was opened during a their arrival. They could not newly-formed bank, which had a magnificent new premises. The period of temporary trade de- have been at their best, after a capital of $5,000,000 in 20,000 first home of the institution was pression was apposite to the oc-couple of rough days at sen, and shares of $250 each.

No. 1 Queen's Rond, known as casion. In those days there their exhibition against the com- bined Police and Civil Service were Jeremiahs who took a dolc-toama was indicative of great pos- ful view of the situation and whosibilities, therefore. Hongkong doubted whether the Colony bowle enthusiasts may look for- |would again enjoy prosperity, a ward to some delightful and exeit- circumstance which is proved by Ing afternoons during the Shang- the fact that the building was hal visit, and we can only hope dubbed "Jackson's Folly.", But that no matter who wins the inter- Sir Thomas Jackson and the port, Shanghai's bowlers will enjoy” then Directors of the Bank were their visit here as much as we men of faith and, vision-men shall.

"LANEFORD"

SHOES

From $10.50

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who looked ahead and were firm

SPORTSMEN WELCOMED

in their conviction that the prevailed when the old Bank |Colony would grow and increase building was opened; it would in trade and commerce as time be folly to deny that fact. went on. They have been justi-Equally true is it that there is fied by events. It is in the same no immediate prospect of spirit that those in charge of covery. But the time will come the Bank's destinies to-day have when by international agree- the

FOR CASH/caused this new mammoth build-ment the chief causes of

re-

ing to arise—a spirit which re-present alump will be removed; fuses to believe that this Colony and when that time comes, this is finished. No Bank which had Colony will once again forge the slightest doubt as to the jahead and attain a measure of future of Hongkong would. em- prosperity at present undreamit bark on such huge expenditure of. Our geographical position as the construction of this new and the services we can offer- building involves; the whole not the least of which are the community can therefore take abundant banking facilities heart and couragé from this con- available--contain the definite vincing demonstration, of faith assurance of such a prospect.

in the Colony's future as one of It is well, therefore, that we the leading commercial and should rejoice with "The Bank"

LANE, CRAWFORD, LTD. financial centres of the Far East. to-day and that our joy should

Men's Wear Dopt.

It is true that the depression be heightened by a confident be- which exists to-day is more lief in the coming of better times deeply-rooted than that which in the days ahead.

•

鹼

the different locations of the

"Now, stop talking nonsense! You're making much more as a Sanitary Inspector then you would if you became a clerk in the

Bank

•

The Very Idea!

*

COURSE WE WERE

THERE, SILLY

By J. 1'. Morgan Kelly

ALL the big noba came along to ace how we'd behave at the Bank ceremony this morning.

But you must have seen us. 34 were the chap holding the gla of champagne in one hand, and i bag of silver in the other.

.

People who went along the were setually feeling prosperous.

All the same, with these othe banks closing down in Hongkong we were a bit dickey about ou balance with the big Bank

it.

So we asked Mr. Grayburn about

"Suppose our money is quite safe in this place?" we said casu- ally.

He looked atartled.

"Yes, yes, Mr. Kelly," he said. "I don't think you need worry about it."

Anyhow, we still weren't quite easy about things, so he ended up by giving us a first mortgage on the new building.

When wo take possession you must come up and see us sometime. We can guarantee our tollers won't tell. Perhaps that's why the lions'll never roar.

In the meantime, we haven't got much bullion but we're full of büll.

Drop in and have your over- draught renewed at our air- conditioning refrigerator..

With which we end. As the Chartered Bank toller sald to the Hongkong Bank toller:

"Notes to you!"

We tricked everybody at the opening of the bank by not wear- ink a hat. They weren't able to. tell whether we were a Peak tai- pan, n ricitaha coolle, a Bank, (Continued on Pago 4.).