HONGKONG & SHANGHAI
BANKING CORPORATION.
Authorised Capital
Issued and Fully Paid-up
Reserve Funda:---
Sterling
Hong Kong Currency Re
serve
Reserve
prietors
Liability uf Pro
.$50,000,000 .$20,000,000
€ 6,500,000
$10,000,000
$20,000,000
HEAD OFFICE: HONG KONG.
BOARD OF DIRECTORS: Hon. Mr. J. J. Paterson, Chairman.
W. H. Lock, Esq., Deputy Chairman,
Bousfield, Esq.,
J Darion, Ener...
Compton, Esq.
6. Miskin, Esq..
K. H. Morison, Eng. Hon. Mr T. E. Pents".
Hon. Mr. S. B. Dodwell, Hon. Mr. A. 1.. Shields, Sir Vanduleur M, Grayburn Chief Manager.
This officer will be especially concerned with the well-being of students, seamen and those who go to the United Kingdom to join realised how Important a place His Majesty's forces or to under- in the life of the community local take war work, and will work in manufactures have now taken cooperation with existing
remembered that the ernment and other agencies.
The officer selected for this when it is amount which "sticks" with the
i.e. the difference Colony,
be-post is Mr. J. 1. Keith, late of the the Northern Rhodesian Adminis-Any tween the Import value of
will like
Hassan raw materials and the export trative Service. Mr. Keith
Diemraelse y in that part of his price, is probably no less than 65 be assisted per cent on the average in the work which relates to Africa and Cha
I. G. Custo Indies by Mr. West of locally-made articles, the
from African whereas the amount sticking with Cummings, the Colony on account of is en-Sierra Leone, who is at present Pre trepot trade is probably not more | Secretary to Aggrey House, | than two or three per cent.
* יוני
Meantime, however, some very for wholesale Meanwhile, we can only strug- interesting figures
covering 1939 and 1940. Potentialities Of Colony gle om, under conditions it ever. | prices,
publication by increasing difficulty, to keep the|were released for
gong and the Import & Export Department Colony trate of the
responsibilities to- So Tull our wards the maintenance of this un
British portant outpost of the Empire.
We
enemy
The Delhi Conference has open- ed the eyes of a good many inj the Middle and Far East to the potentialities of Hong Kong, and we all hope that one result of that Conference will be to accele- Irate the growth of our produc- tivity. It is possible that in retro-
atl
LOCAL SHARES
BRANCHES:-
Ipode
Jours
Kobie
Bowi
Saigon
San Francis Shanghai
Bunda Lumpin Singapor
Hornyn
Hange Patnai
London
ilusfuer
Malaren
Swalay
Masudha
1 MY
Munt Jashore) Tokyo
Haiphong
Mukden
Tangino
Barhun
Now luk
Priping
розный
CURRENT
ACCOUNTS
Local Currency
opened in
DEPO.
and FIXED SITS received for One Year or shorter periods in Loral and Other Currencies
quoted be terms which will application
$1300
b..
on
BANKS Hong Kong Bank
$1305 sa. Bank of East Asin $70 b
INSURANCES HR. Fire Ing. X.D. $176 b.
SHIPPING
H.K. Steamboats $8% 8. Indo-China (Pref.) $80 b.
let month The average ittcreases in price during 1940 over 1939 was largest in the mineral group, with an ibereuse of 44 82 per cent; and! smallest in the foodstuff group The chief problem with which
29 58 per cent. The average - the are faced os, of course,
erease for all cummodities work: shortage of ships resulting from a ruthless campaign agamet the ut at 35 39 per cent. Had prices|spect the period covered by the mercantile manine by which this renamed stationary, the increase
or decrease in the total value of present war will be looked on as having done more to put the in- Britain's seeks to offset
the trade of the Colony wou'd ac-dustry of this Colony on its feet DOCKS, WHARVES, GODOWNS. naval power and, 1 possible, to starve the people of the Britishcurately represent the percentage than any other like period of time.
merease or decrease in the total However, if we are mense relief, the news that the tonnage of that trade. Therefore, this enviable goal the local manus to obtain a Comparison between President of the United States has
1939 and 1940 tonnages we should 1939 Instituted a patrol of the Allantre,
value of the step up the 2,000 miles from east to west, andi from the Arctic to the Antarctic figure by the average merease 18.
cost between the two years. regions. in order to ensure that
term of 1940 values, we thus ar Britain "ets the tool to si the job." which the Cined States!ve at a figure of £93.8 milhos, Jess of the UK, market is supplying under the Lend and i derling for 1939 trade as against Leave Plan.
Isles.
Into
Or
We have heard, with imm-
Import Quotas
1.
NORME
the
od
not
to achieve
facturers will have to show their 1: ual resource in directing the labour of this Colony into new channe's and so make up for what we hope will be the temporary
Sir David Owen's report on the Harbour stresses the desirability C851 millions stering for 1940
with certain re- From this it would appear that of going ahrad 1940 affered. a tonnage less oflariations as soon as practicable if this can be done, and legisla→ 9275 per cent as compared with
tion is avoided which might make the previous year.
us unable to compete with manu- facturers in China, I think the Colony can confidently look for- piro- ward to greatly increased
to be con-
ETC.
Providents $4.85 b., $5 s. LANDS, HOTELS & BLOGS. 11 K. and S. Hotels $2.85 b. HK. Lands $30% sa, HK. Realties $2 70 b., $2.90 s. PUBLIC UTILITIES HK. Tramways $16 s.
RK Electrics Ex R1s. $23 s. HK Electries Rights $12 sa Macao Electrics $18% b, $19 sa
INDUSTRIALS HK. Ropes $0.10 b.
MISCELLANEOUS Entertainments $64% b.
LAST DAY'S SALES 15 H.K. Banks $1305 300 Lands 60 $30, 18 Electrics "Ris" 150 Macau Electrics in
$12
$19
QUIET DAY ON THE STOCK MARKET
011
SAFE DEPOSIT BOXES of various sizes To let.
TRUSTEE and EXECUTOR business undertaken
Hong Kong. 20th February, 1941.
HONG KONG SAVINGS
BANK.
The Business of the above Bank is conducted by the HONG KONG AND SHANGHAI BANKING CORPORATION. Rules may be obtained on application
KONG AND HONG THE FOR SHANGHAI BANKING CORPORATION.
V. M. GRAYBURN,
Chiel Manager. Hong Kong. 1st March, 1937
THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA.
Incorporated by Royal Charter, 1853.
Paid-up Capital Reserve Fund
Reserve Latality of Pro-
prietors
£3,000,000
£3,000,000
£3,000,000
HEAD OFFICE: LONDON:
38, Bishopsgate, E.C.2. 17/122, Leadenhall Street, E.CZ
West End Branch: 14/18, Cockspur Street, SWI Manchester Branch:
52, Mosley Street, Manchester, 2
Sir David Owen's report on the future control and development of the Harbour, to which I alluded just now, has been published so reently that I do not propose to refer to it at length, pending full consideration by the appropriate
Business on the London Stock Sub-Committees of the Chamber. It is clearly a valuable and most instructive document, the product Exchange yesterday was quiet but and experi-values generally were maintained.
mainly steady, Ame of wide knowledge
The report should help the Gilt-edged were
industrials movements of ince,
home rails remained whole Colony to take long views
of its most small and in the development
De Beers continued unchanged, valuable asset,
strong due to a shortage of stock, Iraq and among foreign issues 4 per cent yesterday were quot-ranton
AGENCIES AND BRANCHES:
13
Ban
Нона Конд #lif
Salgado
Hoppybar
Kurichi
Kunnghar
Vor Star
were
Batlok
Kobay
Singapore
talentir
Kloog
Sillowan
Kobe
Soundarya
Clive Start Kinin Lumpur Taiping Facle Place Khing
Tentang
Madre
Toskih
(Mk1)
Medan
Tegies
New York
Yokohama
Harphag
(Peking)
Another
difiendly war-tint anises from limitation of mp
No Pessimism the finited Kingdom and other part of the Empore effected
However, as fondstuffs formed by mens ui peal trence
the lappest tndrudual Rem of msperity when the political horizons
this have cleared. quotas. The powers of the vari
and as during 1940, OUS Controller and Liceusry Port
Krip uitderwent the smallest in- ༨ དྭིརྙི, a ་ཎྷཱ 't Department; are
TONES IE pew, it is probable that over-imüstering or neration
the weighted general average for the availability of hiping Mer-
all groups would show a smaller chants and manufacturers
Chan the percentage Herease that when an import licence la -
Spure of 35.39 per cent on which been granted
a quota
I have worked and, this in turn been fixed, their traukinn
would mean that the decrease in times, have only just begun Un-
tentage is even less than 9.27 per der changed circumstances
sarpended cent. But even on the basis of this import licence my y h
is surprising that ht cancelled,
hipping, latter figure it
the Colony was so little affected -space available may be que in
during 1940 by the world short- the to sullicient
Carry
age of shipping. The position re- which the Board of Trade
eredit on the more to reduce fleets great withstanding the need
reenomic use to which available imports to mimum has dr.
Tribute To Mr. Key cided are definitely required by bottoms must have been put, and
those concerned are the people at Home,
We have again to express sym-ed at 842 compared with 83. Oits supe
were quiet, with Anglo-Iranian merchant coni- These obstacles to the hipten ¦ eratu'ated. Unfortunately I fear
slight.y easier. Wall Street was of completed good involve seen that 1941 must inevitably see a pathy with the for all concerned, but such trou-, further shrinkage in the volume munity in Canton who for another
trade and, indeed, since year have suffered--by force of slow. Reuter. bles have to be taken in good of tr
prepared news circumstances beyond their con- loss of part as an inevitable accompani-th, address was
restrictions trol the almost complete further shipping f
their trade. A year ago there were ment of the life and death stru-
re-opening of the gle in which the British Emuire has come to hand which will re-
at least for the time being hopes of the is now engaged The Chamber of sult
in the almost complete cessation ¦ River, but I regret to say that Commerce has been actively oe-
Kong- these have not yet materis'isod the export of Hong -cupied throughout the your in do-
We are all glad that His Ex- cellency the Governor has ing all it can to smooth out these manufactured goods to Great Bri-
In the rubber foot- difficulties.
Nevertheless, I am not one of turned to the Colony recovered
and
his in health
trust that wear industry the Chamber hat
maintained to organised
these pessimists who, whilst ad- a distribution of the
have strength may be that conditions mi'ting available. limited freight space
kept up surprisingly well in the face the strenuous duties which hour bring to him based on the quantity which each
evil times each day and past, forecast that
of stress. I um firm is licensed to import in pro- portion to the total quantity are just around the corner. It in these times
would be foolish to Indulge insure you will wish me also to ex- covered by all the licences.
press our appreciation of the ser- wishful thinking concerning our prospects for the current year. but the adaptability which the in moeting Colony has shown changed conditions will, I trust. the help
us to make up on
some of what swings at least
the Wo are likely to lose on -Foundabouta.
H.K.'s Trade
..1
tain.
re-
SHANGHAI RICE PRICES FALL
Manila
וייוייוין
Perang
FOREIGN EXCHANGE and General Banking Business transacted
CURRENT ACCOUNTS opened and for One FIXED DEPOSITS received Year or shorter periods in Local or Other Currencies at rates which will be quoted on application.
SAVINGS ACCOUNTS also opened 1 Local Currency and Sterling with in- terest allowed at rates obtainable on application.
(SPECIAL TO "CHINA MAIL") With
the arrival of rice
in
011 Kong Shanghai from Hong Sunday prices have taken a decid- ed drop, ranging in the vicinity undertakes Executor and Trustee busi of $124 a picul against the pre- vious quotation of $148.
Retuil dealers were taking de-
vice.
CROATS ACT AGAINST JEWS
The Bank's Head Office In London ness, and claims recovery of Britain Income Tax overpaid, on terms which of the ascertained at any may be
Manager.
THE WING ON, BANK, LIMITED.
Head Office: Hong Kong. 26, Des Voeux Road, Central. Authorised Capital ... $10,000,000
LONDON BANKERS. Westminster Bank, 'Ltd. Foreign Exchange and every description of banking business
livery this morning with special Agencies and Branches.
W. H. EVANS THOMAS, vices rendered to the Colony by police precautions, and the out- General Norton during his term look for the rice situation is im- BS Acting-Governor. In so far as revocation of im-
The motion before the meeting proving.-International News Ser- port licences affects China pro-
includes the adop'ion of the Ac- Produce General duce, the
Chamber. These counts of the of London Brokers' Associa ion
call for no comment beyond the recently issued a revised contract
fact that the balance is on the right side and the membership which provides that Government-
continues to grow. Extension of cancellation of a licence is to be followed automatically by can-
New Industries
the demand by Governments the cellation of the contract between been It has
Here I would like to say a few world over for certificates of ori- buyer and seller. necessary to point out that as words on the increasing import- gin has led to a further increase ance of our local industry. The in fees from this source of income.
This
hard-working tar us Far Eastern merchants are
Current Accounts and Savings year our concerned this is no solution be-old-established industries of ship-
have to
received at rates which will be meet building and repairing, cement Secretary-the term is hackneyed, exporters contractual obligations to sup-making and sugar refining all show but I can think of nothing which Croatian Government has confls- Accounts opened. Fixed Deposits
The report states that hence-quoted on application. more than the
Safe Deposit Boxes for hire, pliers. At the suggestion of this increased activity, but it is rather more accurately describes Mr. Keycated all Jewish shops.
PHILIP GOCKCHIN, Chamber, the British Chambers to the growth of the more recent--has done even
Industries that I usual amount of work on Govern- forth the former Jewish proprie- of Commerce in China have made ly established
Chief Manager. than errand boys. telegraphic representations to refer, and I would particularly ment behalf as, during the ab-tors may be employed as nothing
study the figures sence of the Hong Kong Delega-higher London, Exporters advised not to do business on the given on page 60 of the Cham- tion at Delhi, his full-ime ser- International News Service
You will see that vices were lent to the War Sup- *Produce Brokers' revised con'ract. ber's Report,
cause
been ask have
you to
(SPECIAL TO "CHINA MAIL") A Zagrab despatch received in transacted.
the new Budapest alleges that
con-
TUITION GIVEN
THIEF GAOLED In spite of all these difficu! the export value of the goods list-piles Board and in recent months
Charged with breaking into the ed therein has increased from a he has worked for several hours ties, the commeroa of
EXPERT Instructresses for ladies basket, Colony kept up remarkably well little under $35 millions in 1939 week for the Food & Firewood ""during 1940, as will be soen to over $51 millions in 1940-an Control Board. This, in turn, has No. 3, King's Park Mansions and
from the figures which are increase of 40.90 per cent: and thrown a great deal of extra work stealing a rattan
hand, typing, bookkeeping and given on page 59 of the Cham- this in spite of quotas, export on the Assistant Secretary and, taining a cotton quilt and other and young girls in music, short- ber's Report. These show quite licences and other impediments, indeed, the whole s'aff. We are clothing, Wong Sam, 24, who '' substantial · inoreste In the Admittedly this total is small in indebted to them, for the many I had nine previous convictions, combined value of the Colony's comparison with the combined hours of extra time which they was sentenced to four months English and French. Apply 24
Import and export figure of have had to put in to keep pace hard labour by Mr. D. J. N. Ander Austin Road, Kowloon,
son at Kowloon this morning, Imports and exports.
$1,374.6 millions, butliche with the work involved.
er, it must not be for