DE LA RAMA LINES'
EXPRESS CARGO LINER SERVICES
TO AND FROM PACIFIC & ATLANTIC COASTS
VESSEL
3.S, PANAY
LOADING FOR
DUE
In port
}
M.V. TRAVANCORE
M.V. DONA NATI
5 Sept.
27 Sept.
Manlia (Inunedinto
Discharge) Pucifle Const via
Shanghai Pacific/Atlantic Coasto
THE DE LA RAMA STEAMSHIP CO. INC.
Podder Buliding
BUTTERFIELD
TEL: 28676
& SWIRE
1. CONNAUGHT ROAD CENTRAL Telephones: 80381-8 Private Exchange.
Agents: CHINA NAVIGATION CO., LTD.
"NEWCHWANG"
"PAKHOI"
"FENGTIEN”
"KWEIYANG"
**TSINAN"
"PAKHOI" "KWEIYANG" "FENG TIEN” "FOOCHOW" "TSINAN" *NANCHANG"
"TATSHAN”
"ATREUS"
SAILINGS TO
Singapore 4 p.m. 6th Sept. (No Passengers) Shanghai 4 p.m. 10th Sept. Singapore & Penang 2 p.m. 11th Sept. Swatow & Bangkok 2 p.m. 12th Sept. Shanghai 2 p.m. 12th Sept.
ARRIVALS FROM
Tientaln & Taingtao 7th Sept. Bangkok, Salgon & Swatow 7th Sept. Shanghal 7th Sept. ...... Singapore 8th Sept. Shanghal 9th Sept. Singapore & Saigon 11th Sept.
CANTON RIVER LINE
Arrives 2.30 p.m. 5th Sept. Sails 4 a.m. 7th Sept. Arrives 2.30 pan. 9th Sept. Sails 7 om 11th Sept.
Agents: BLUE FUNNEL LINE
PROMETHEUS"
-“GLENSTRAE"
"BELLEROPHON"
**BENRINNES"
*EURYBATES"
"SAMOA"
"SAMAFFRIC"
AUSTRALIAN
TAIPING"
"YUNNAN
U, K. SERVICE
Sailing
15th Sept.
Into Sept.
Arriving
5th Sept. 1st week Sept. 2nd week Sept. 9th Sept. 3rd week Sept. 3rd week Sept.
Agents:
For
Port Said, Liverpool
via Straits.
do
From
U.K. via_Straits
-dor.
--do
-do-
-do-
-do-
ORIENTAL LINE, LTD.
Salling
6th Sept.
Arriving
For
Sydney & Melbourne
From
Mid Sept.
Australia
All The Above Subject To Alteration Without Notics. For Passage, and Freight Far ticulars Apply To The Above.
DOUGLAS STEAMSHIP CO., LTD.
S. S. "Halyang" Sailing for Swatow & Foochow on or about 6th Sept.
Subject to alteration without Notice.
For Particulars of Freight & Passage. Please apply to:
DOUGLAS LAPRAIK & CO.
General Managers.
P. & O. Building, 5th floor. Tel. 23755
or
CHINESE SHIPPING DEPT. 20 Connaught Road, Central. Tel. 24639.
TAK CHEONG SHIPPING CO.
S.S. “MAIWARA”
Loading on September 6th for HAIPHONG via MACAO Sailing on September 8th.
For Freight and Particulars please apply to:-
TAK CHEONG SHIPPING CO.,
20, Des Voeux Road C., 8rd Floor,
Tel, 26180
THE CHINA MAIL, WEDNESDAY, SEPTEMBER 4, 1940,
First Stage Of Bull Market In London
(By Sydney Ganipell, Reuters City Editor)
London, Sept. 3. On a proper application of the Dow theory, the London Stock Exchange may not be, as almost everyone supposes, in a late stage of a bull market which started at Dunkirk time. June, 1940.
On the contrary, it seems to be the first stage of a new bull market which started only a few months ago. From the autumn of 1944 until sometime after the general election in July, 1945 there was almost certainly a bear market.
London Stock Exchange
London, Sept. 2; Although business all day was little more than of a routine char- an underlying scter, there was note of cheerfulness throughout with operators taking an optimis-
SHIP STRIKE THREAT
Singapore, Sept. 2. The crow of the steamer Sam Trent, who, threatened to striko today unicas the ship, which has been anchored at Singapore far six weckte, was discharged or given calling or- ders were informed today that the worsol's unwanted cargo of coal dust will be discharged into a coal hulk tomorrow.— Router.
Exchanges
In London
Pazo T
JARDINE, MATHESON & CO., LTD.
SHIPPING DEPARTMENT
10 Pedder Streck
Tel. 80811.
General Managers.
INDO-CHINAʼS. N. CO., LTD.
S.S. "WOSANG" S.S. "WINGSANG"
S.S. "WINGSANG” S.S. "EMPIRE PERLIS"
S.S. WOSANG
S.S. "EMPIRE FARRAR" S,S. 'TBANG".
{S.S. "EMPIRE WITHAM""
SAILINGS
to Saigon, Singapore & Penang 9th Sept. to Stanghal 10th Sept. ARRIVALS
IN PORT
from Shanghof 7th Sept. from Shanghai 10th Sept.
Kowloon Dock Kowloon Dock
... Kowloon Whort 65. ..(Ben Line Berth) Kowloon Wharf SN.
Bubfeci te alteration without notice.
All intending Passengers are requested to register their names de far as possible in advance of the time at which they wish to leave
The reason why it was mistaken for an only secondary downtrend in a bull market is that the true bnecline is not, as nil charts show, horizontal, In both London and Wall Street, the base line is in fact rising and probably steeply.
The horizontal bare line
on which to trace the bull and bear markets is
only if the anpropriate long term trend is horizontal,
London, Sept. 2. Manifestly it is not. The a On New York 4.025, 4.035, Mon.
Agents: GLEN LINE LTD. dinery market cyclo is super-treal 4.02 4.04, Zurich 17.34, 17.30,
Buenos S.S. "PROMETHEUS” imposed on a trend line which is Stockholm 14.47, 1450, sharply rising because, quite apart Aires anquoted. Brazil 75.4410, from the cycle, all capitat values Irazit (sellers) a rewar plane to a much higher There was
a steady flow of postwar plane, determined above
for buying orders
giltedgods all by the fall in value of money. which closed around 1/16 better,
Primary Bear Market Better class industrials were in
Allowing for that, the setback demand while from the autumn of 1944 cannot good investment South Africa foresook Kafirs for be dismissed as a secondary down- South African industrials.
In both duration and Oils were inclined to dullness nude it qualified as a primary: spite of further moves in the bent market. switch over from coal to oil by This higher pigne reflects the
tle view of the latest European are at present in transition from 'guay unquoled. Rotem 1700-15.5. "GLENAFFARIC"
news.
167.50, M.V. "GLENARTNEY" Parls and French Empire 479.00, M.V. "GLENSTRAE”
Lisbon Syria 881, 885, 480.30,
Bank Natas 99,80, 100.20, Swiss Middin 17.25, 17.50, Netherlands panams 4.02, 4.04, Denmark 19.32, West Indies 7.58, Holland 10.63, 10.36, Prague 201, 202, Norway 19.98, 20.02, Netherlands East In- dies 10.08, 10.07.
duo from UK. 7th Sept. due from UK. 7th Oct.
due from UK. 18th Oct.
loads for Rotterdam, Antwerp, Amsterdam and London about 27th Sept.
Managing Agents: AUSTRALIA CHINA LINE
Failway companies. Anglo-Iran- possibility of higher productivity, Sweden 1% P. Holland 1 cont, 1 [S.S. "PERIOD"
ans were rather unsettled follow ing reports of unrest in the area surrounding the oilfields.
Foreign bonds produced several bright spots, particularly in the European section where Greek bonda something of a fea- ture: Far Easterns also had some demand.
were
Argentine railways improved on better prospects of the Anglo- Argentine trade talks although activity tended to subside towards the close.
One of the day's features was Indian ron which closed Ave alilings higher at 92/64 on In
buying.
Elsewhere prices were generally maintained in a quiet but steady
cent
market.
Console, 2 per cent 1945/7 90%, Conversion Loan, 3, per 111-5/16, War Loan, 3% ent 107%, New War Loan, per cent
per cent 106-11/16, Victory Bonds, 4 per cent 118, German Loan,
per cent 10%, Japanese Bonds, 5 per cent, 1907 22, Can- ton-Kowloon Railway 23, Tientsin Pukow
6 per cent 27, Railway. Lung-Tsing U. Hai Rly. 5 per cont, 1913 23, Reorg. Loan,
5 per 1913 (London Iss) 50, Crisp Loan. G per cent, 1911 48, Hukuang Railway.
cent, 28. Honan Railway. 5 per 1011 cent, 1905 324, Shanghai-Nanking Kallway. 5 per cent 29, Mercantile Bank of India "A" 24, Chartered Bank of I. A. &
H.K. 12-11/10,
per
& Shanghai Banking Corporation
fali in value Df
Clearing
loads for Shanghai mid Sept. and
for Sydney, Melbourne, Adelaide carly October.
dus from Sydney 25th Sept.
Agents: PRINCE LINE Ltd. Chinese Freight Agents: CHEONG FAT CO., 64 Bonham Strand E. Tel: 20037.
Forward Rates: One Month: M.V. "KAFIRISTAN" arrd. from Melbourne discharging Buoy AD United States p, D, Canada D. Switzerland 1⁄2 p, % D. 1 D. Paris 40 the probability of a much lower
cents, 40 cents. average of unemployment than prewar, and the certainly that the cent of England
Bank value of money has depreciated. Rater: Madrid 44.00, Italy 71.25.
The last alone would suffice. Even the British Treasury now recognise the money to the extent of paying cer- tain landowners 16 per cent above the 1939 prices
as compensation for compulsorily acquired land,
Values Doubled If the Anglo-Canadian wheat means anything, it agreement means that money had lost half which was purchasing Diver
in turn means the doubling of all capital
values.
18.00, Australia 125, 126.60, New Free Market Rates: Indla 17.94, Zealand 124.37. 126 South Africa 100, 100.50, Teberan 128, 130. Alexandria 97.876, 97.026, Singa pore 24-1/32, 2/4%, Hongkong 1/4-1/15, 1/3-1/16, Philippines 8.10, 8.15, Bangoon 1/3-15/16, 1/8-1/10, Shanghal unquoted.
Special A/C Rates: Lima 26.10, S.S. 26.16. Lapaz 108.62, 170.32, Vals.S paraiso 100.625, 101.250, Turkey
520.
Central American A/C Rates: Mexico 19.45, 10.05. Bogata 7.00, 7.96-Reuter.
This is no far-fetched theory. what was always unredlistic and is now fantastic was the chartists line with its convention of the horizontal base
Lendon. Sept. 2. assumption that Silver. Spot, fine per oz. 55, money's value is remaining con- Silver, Forward fine per oz. 56%d ̧ stant at a time when it is mani-Bar Gold, Fine oz. 172/3---Reuter.
Bot festly
It never
did. Repelling the
Agents: THE WESTERN CANADA
STEAMSHIPS LTD.
HASTINGS PARK "KITSILANO PARK"
arrd. from Vancouver-Discharging 12. due from Vancouver 12th Sept.
PENINSULAR & ORIENTAL STEAM
NAVIGATION COMPANY
Ship
"ATREUS" "SAMETTRICK" "BENALDER”
Spanish Armada cost £161,000. S.S. "NELLOKE" How much would an equivalent measure of security cost today? Reuter.
The final survey of damaged) "TREVETHOE" catgo ex the above vessel will "GLENIFFER" be carried out at 10 am, on
Ship REUTERS U.K. INDEX September 8th, 1946, by Messrs. Goddard & Douglas, Consigrices
"SAMSOARING" London, Sept. 2. should arrange for a representa- Industrials 153.4, Kafirs 113.4.tive to be present. 294.0.--Reater. Home Raile 93.5. Commodity
Gold,
Alexandria, Sept. 2.
fine ounce per
106
Mackinnon, Mackenzie & Co.,
Agents E. & A. S. S. Co., Ltd.
90. Lydenburg Estates 120/3. Pisstres, Reater.
South Africa Townships 31/0 Selection Trust 48/0, South Afrlen Torbanites 13/3. Canadian Pacifle
AMERICAN PRESIDENT LINES LTD.
Speed-Frequency ----Dependabkity
21%, Mexican Eagles 14/4.-Reu- | Refrigeration Special Cargo Of Tanks Cargocatre—Specia
ter.
LONDON DISCOUNT
RATES
London, Sept. 2.
SAILING
FOR
S.S. PRESIDENT MCKINLEY" 4th Sept. San Francisco. 5.5. “GENERAL W, H. GORDON” 6th Sept. San Francisco. |3.5. "HANNIBAL VICTORY” 7th Sept. San Francisco,
Day to Day Loan per cent, ss. "PRESIDENT POLK" Short Money to 1, Bank Bills,
3 Mantha 17/32, Bank Bills, Months 9/16 to, Fine Trade Bils, 3 lonths 1 to 12, Fine Trado Bills, 6 Months 1% to 2%, Treasury Bills, 2 Months 17/32, Treasury Bills, 3 Months
4 to 17/32-Reuter,
TRADE BOOSTING
TOUR
to
Los Angeles, New York & Boston. 18th Sept.,Manila, Singapore, Fenang, Colombo, Bombay,
Port Suez, Said, Alexandria, Naples, Genoa, Mar- sellles, New York & Boston.
5.S. LOUIS MCHENRY HOWE" 20th Sept. Singapore, Colombo,
Bombay, Suçz, Port Sald, Alexandria, Naples, Loghorn, Genoa, Morseilles, New York & Boston,
For Passage and Freight apply to:~~~-
AMERICAN PRESIDENT LINES LTD.
St. George's Bldg.
Tak No. 28172/28176.
between IVARAN. LINES FAR EASTERN SERVICE
Loudon, Sept. 2. Mr. S. F. Waterson, the South African Minister of Economic De. velopment and Minister of Mines, arrived at a London airport to- night in preparation for a trade tour of European and Scan-
Hi capitais. His Inaylon
visit is part of the plans for the post- war revival of trade South Africa and Europé.
Mr. Waterson will discuss trade relations with various countries
tho consider and will consi
need the commercial al nopointment attaches at South African lega- tions. He will begin his tour in the middle of this week when he travels to Stockholm. In less than a month he will visit Oslo, Copen- hagen. Brussels, Paris, The Hague,
THE SWEDISH EAST ASIATIC CO., LTD.pon and Prague-Router.
M.V. "TRAVANCORE”
M.V. "NAGARA"
M.V. "MINDORO"
MY. “NAGARA”
Outwards
duo Hongkong 5th Sept. duo Hongkong early Oct
1
Homewards.
Loading 2nd half Oct. loading 1st half Oct. Loading for Port Sald, Marsòlites, Antwerp, Rotterdam, Copenhagen, Onlo” & Gothenburg. For further particulars, apply to:----
GILMAN & CO., LTD. (Shipping Dept. › Phone 27871).
FEDERAL DEPOSIT
REPORT
Washington, Sept. 3.
M.V. “REINHOLT”
Expected to arrive September th
from NEW YORK via PORTS, --
Loading for NEW YORK about 10th September
For freight and particulars apply to:-
WALLEM & CO.
Hongkong & Shanghai Bank Building
Tela:-34177-9
From
V. K.
3rd September
KARACHI & BOMBAY
7th September
U,K.
Early September
U.K.
U.K.
October October
Loads For
Ready
U.K. via Stralta
Mid-September
Accepts cargo for LONDON, ANTWERP & ROTTERDAM "SAMNEAGH" SINGAPORE & BOMBAY 8rd September
Cargo accepted on through Bill/Lading for Karachi and Persian Gulf ports."
BRITISH INDIA STEAM NAVIGATION CO., LTD.
Passengers and Freight to India
EASTERN & AUSTRALIAN STEAMSHIP CO., LTD.
SHIP
"EASTERN"
SHIP
"NELLORE"
:
FROM
Australian Ports LOADS FOR
SYDNEY
Passengers & Freight
For full particulars apply to
DUE
· 3rd September
READY
16th September
MACKINNON, MACKENZIE & CO.
Telephone Nos, 27721–4.
MAERSK
LINE
M.S. "MARCHEN MAERSI”
Londing for Los Angeles, Panama, Baltimore, Philadelphia, Deston
and New York
mid September,
for Partioplars please apply to:--
#
JEBSEN & CO., Agents
Pedder Building, 7th floor. (Shipping Department Tel. No. 22882)
BEN LINE STEAMERS LIMITED.
SAILINGS TO U.K. VIA STRAITS.
FREIGHT ONLY.
VESSELS DUE
The Federal Deposit Insurance The HO HONG STEAMSHIP Co. (1932) Ltd. SS. "BENLOMOND”
Corporation reported today real 'estate loans of insured banks rose to 20 per cent in the first aix months.
Statistical urdmary showed akgregate deposits at $161,038,000. In the year business and indivis dual deposita. Increased $10,840, ODO: Government.deposite dedined $10,687,000.
It was announced that no positor Insurance bank auftered loss in 27 months, Associated
•Press.
S.S. "HONG KHENG”
Bailing to Amoy & Swatow 12th September
Loading for Singapore and Penang 17th September.
Bubject to alteration without notic
For Passage and Freight particulars apply:
THE HO HONG CO.
48a, Bonham, Strand W.,
(CHINA) LTD.,
Tel. 2617 & 28840
5.S. "BENCRVACHAN”.
LOADING
85. "BENRINNES
6.B. BENALDER" |§.8. “BENLOBOND" 88. "BENCRYACE
Lala September. Lala September,
loading for London Mid Sept. 2nd half Sept. impelet half Oste
11, 2nd Half Sept."
WR. LOXLEY & CO. (CHINA), LTD.
York. Building