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are
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LOS ANGELES, NEW YORK,
AND BOSTON
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and Honoluin
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DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE
THE 1937
DOLLAR DIRECTORY
NOW ON SALE
PLACE YOUR ORDER WITH
NEWSPAPER ENTERPRISE, LTD.,
3A, WYNDHAM STREET.
THE CHINA MAIL, FEBRUARY 22,
LOCAL DOLLAR
Silver Prices Steady
The local dollar is stead
ing on demand ing at 1/2:27/32-
"Spot silver was quoted at 20 1/16 and "forward,” at 20-1/16.
The London on New York cross- rate was quoted at £-US$4.89 while the New York on London cross-rate was quoted at U.S.$4.89-7/16.
LOWER SWISS FRANC
Hoarded Capital Appears
It is a well known fact that the de- valuation of the Swiss franc was not j caused by the country's monetary situation, but was decided upon September 26th, 1936, with a view to stimulating national economy.
on
LOCAL SHARE
MARKET
hst of changes and local share
this
BANKS
Hong Kong Bank $1855 Bank of East Asia 185 b.
INSURANCES
SHIPPING Douglases $32 bur DOCKS, WHARVES, GODOWNS, ETC.
MINING
LANDS, HOTELS & BLDGS. FL and S. Hotels $5.55 b. H. K. Realties, $4.70 b. $4.80 s. Marsmans Hong Kong 10/- ́s.
PUBLIC UTILITIES
H. K. Tramways $13.30 b. Peak Trams (Old) $4 h.
INDUSTRIALS
STORES, &C. Dairy Farms $23 b
COTTON MILLS Shanghai Cotton (Old) Sh$100 5. Shanghai Cottons (New) Sh.$75. b. MISCELLANEOUS Constructions (New) 40 cts. b.. Vibro. Piling $6-b.
to It would indeed be premature draw any conclusions as to the ultimate results of this operation. Only after a number of months have elapsed will it be possible to ascertain whether the alignment of the Swiss franc with the Antamoks other principal foreign currencies has Atoks brought about the expected results. Baguio Gold After the first three months, however, Balatoc Mining it may not be without interest to con- Benguet Consol Benguet Explor sider the present state of affairs.
Opening 10 am:
B.
!Sar L L
in Pesos C C.
1.50
45
29
14
114
19
78
Mines
048
91
35
29%
2012
1.50
1.50
431
First of all, the importance of the Big Wedge recent influx of gold should be noted. Coco Grove The gold cover of the Swiss National Consolidated Bank, which came to 1,500 millions at Demonstrations the eve of devaluation, rose immediate-E Mindanao ly afterward to over 2,000 millions, Gumaus G'field taking in account the revaluation of Ipo Gold the gold cover (538 millions), and by L I L the beginning of December had attain-Itogons ed 2,630 million francs. Further, Masbate Consol hoarded capital has made its appear-Min. Resources ance in search of safe investment, now Northern Mining that the uncertainty which prevailed Paracale Gumaus with regard to the Swiss Franc has Salacot Mining been replaced by clearly, defined San Mauricio policy. The result was a general in-Suyoc Consol ̋ž.. crease of the ease of the money mar-United Paracales kets. Interest rates dropped therefore to a lower level.
2
TIN WORKS MAY CLOSE
Thán
.40
.15
-.07%
3.10
45
1:20
N. Z. LOAN PAYMENTS
Steel manufacturers in South Wales A decision that coupons on a New are faced with a problem of extreme Zealand bond payable in London should gravity. There is an acute shortage be met in sterling and not in New Zea of scrap metal.
land currency was given by the Judi In recent months the price has. ad cial Committee of the Privy Comcil vanced from 5s to 70s per ton.
The case was brought to decide the steel sheets are the main ingredient rights of the Alliance Assurance Com- of timplates, and as the steel manu- facturers are unable to quote forward Pany under a Debenture bond forming part of the Auckland (New Zealand) with certainty to the tinplate City Tramway Loan. The loan was producers a number of the timplate secured on the revenues of the city works may have to close down,
and interest and principal were pay- able at the holder's option in Auckland Germany's production of pig iron in-or London on July 1, 1940. creased in 1936 by 2,461,000 tons to 15,303,000 tons.“
THE TAIKOO DOCK YARD & ENGINEERING COMPANY
OF HONG KONG, LIMITED
BUILDERS OF ALL CLASSES OF SHIPS.
BUILDERS OF RECIPROCATING STEAM ENGINES.
BUILDERS OF MARINE AND LAND BOILERS.
BUILDERS OF TURBINE MACHINERY.
Under License From Messrs. Parsons.
BUILDERS OF DIESEL ENGINES.
Under Special License From Messrs. Sulzer Bros.
Licensed To Manufacture Lanz Perlit Iron, Specially Suitable
For Internal Combustion Engine Working Parts.
DOCK & SLIPWAYS
FOR DOCKING VERY LARGE, AS WELL AS SMALLER VESSELS, ON ANY TIDE
ALL CLASSES OF SHIP ENGINE AND BOILER REPAIRS AND EXTENSIVE WELDING, BOTH ELECTRICAL AND OXY-ACETYLENE SKILFULLY AND
PROMPTLY CARRIED OUT
In the New Zealand courts the as- surance company obtained judgment. Lord. Wright delivered the judgment of the Committee. He said their lord- ships were in substantial agreement with the conclusions of the majority of the New Zealand Court of Appeal, that, though the proper law of the contract was New Zealand law, the place of payment was London, money was therefore payable in stert- Fing
COMPETITION IN SICK.
Delay in tackling the problem of foreign competition, particularly Ja panese, continues to arouse anxiety among the silk producers in this coun try. Further discussions took place at a meeting of the Silk Association of Great Britain in Manchester with a- view to representations being made to- counter the evil.
The industries' case for higher dn- ties on silk imports was presented as: long ago as last August, but so far no indication has been given of the Inten- tions of the Government in dealing with the question It is understood that consultations took place with other - textile sections interested, the object being to prepare further evidence to re- but statements made by silk importers who are opposed to an increase in the duties
Hong Kong
BUTTERFIELD & SWIRE, Agg
gers retuning