Money and
Markets
INDUSTRIAL AND CEMENT COMPANY. COMMERCIAL BANK.
NEW PREMISES OPENED.
CHANGE OF MANAGEMENT ADVOCATED.
PROPOSED TRANSFER TO GIBB, LIVINGSTON & CO.
The following notice calling at extraordinary meeting of share- holders of the Green Island Cement Co., Ltd., for Wednesday afternoon,
The Industrial and Commercial Bank, Ltd., moved into their in- posing new premises at 12, Queen's Rond Centra, yesterday morning. Although the Bank was officially open for business, the greater num Ser of the many who visited it yesterday were in the position of guests rather than clients, for the Directors and officials were "Amitted for the purpose of changing Home " to all friends. Over the management of the concern. thousand guests were entertaine-i during the morning, included the has beca published. managers and officials of the lead- ing foreign and Chinese banks and ocal business men who called to offer their congratulations. When our representative paid a visit late in the afternoon fresh supplies of drinks and refreshments were being laid out for the visitors who were expected after office hours.
The Industrial and Commercial"
THE HONG KONG DAILY PRESS, TUESDAY, FEBRUARY 4, 1930.
́FRANCE'S HOARD" DAILY SHARE QUOTATIONS.
OF GOLD..
45,000,000,000 FRANCS,“
A WAVE OF PROSPERITY.
[United Pres5.]
HONG KONG STOCK EXCHANGE.
Exten
SHAREBROKERS' ASSOCIATION.
MONDAY.
Buyer Sellers Nomla FEBRUARY 3.
Buyer Babere น่ Nominal
Banta
$1,315
PARIS, December £1. With the fantastic sum of nearly 45,000,000,000 francs worth of gold stored in its underground vaults $98. in Paris and the provinces, the Bank of France is anxions to stem the tide of inflowing bullion before its riches prove bothersome.
at which resolutions will be sub-ment have manoeuvred very care fully and cleverly to make Paris the lending money-centre of Europe, in succession to London, and as a possible rival of New York as the financial capital of the world,
The meeting has been called in pursuance of a requisition made to the Directors by holders of hot-less than one-tenth of the issued share capital of the Company,
The Resolutions.
Two resolutions are to be sub-
Bank, Ltd., is business of longmited to, the meeting, these being standing-its directors are Messrs
T. K. Lin (General Manager), Ip Wing Cho, Ho. Ming. Yung Tze Ming, Chen Man Chung, T. T. Ching.
The site on which the new build- ing stands has a frontage of GS fret |
The and a depth of 106 feet.
building is an imposing structure of six storeys, the ground floor being huilt of granite and having four Doric pillars to guard the entrance to the marble paved hanking hall. designed for The apper stories, office accommodation, are construct- ed of re-inforced concrete freed with Shanghai cement.. The marble work of the interior is the work of Messrs. C. E. Warren & Co., Ltd.
The site on which formerly stood the premises of the Colonial Dis
store tobacco
and .pensary,
the Lazarus& Co., belonged to Mission Etrangeres and was sold to the Bank in 1028.
12
NEW YORK STUCK. QUOTATIONS.
New York, Jan.
Market ansy. Business done, 3,750,000 share
"Allied Chemical & Dye...
Allied Power & Light... American Can. ...
American Rolling Mill American Suelting American. Tel. & Tei.
American Tobacco "B" American Waterworks Anaconda Copper
Atlantic
Refring
Baltimore & Ohio
Bethlehem Stool
& Hecla
G* Pacific Railway
Chesapeake Chicago
Northwestern Rock Island
Cities Service, Common Columbia Gas & Electric Columbia Graphaphone Commercial Solvents Consolidated Gas of N. Y. Continental
100...
Products...
Cora Coty Incorporated Curtis Wright, Common, Davison Chemical
Du Pont de Nemanri... Eastman Kodak Company Electric Bond & Share
Brie Bailway, Foz Film "A General Electric General Food
General Motors....
Goceral
General Bruway Signal
Gold Dust Goodrich Eubbor
Goodyear Tire & Rubber
GT Northern Certificates
Grant Haygart... International Cement... International Comb. Eng. International Harvester
الا
International Nickel ... International Printers Ink International Prod. (Cam.) International Tel. & Tel Johns Manville... Johns
Kennecott Copper Lambert Company Lehigh Valley. Liggett & Myers ""*** Malivon Square Garden Missouri Pacific (Com) Montgomery Ward
in the following terms:--
1. That the drm of Messrs. Shewan, Tomes & Co. he removed (pursuant to Article XI. (5) of the Articles of Association of the Company) from the office of Genera! Managers of the business of the Company.
2. That Gibh, Livingston & Co., Ltd., of Victoria in the Colony of Hong Kong, be appointed the General Managers of the business of the Company with a remuneration of $1,000 per month and a commission of 2 per cent, on the annual balance of the working account of the year to be taken before allowance or deduction
By has been made
from Büch
working account for deprecia tion of property, rents, build inga, machinery and stocks of goods and materials of any kind.
Confratory Meeting.
It is further notified that another extraordinary meeting will be held on the 90th instant, for the purpose of confirming, if thought fit, as special resolutions the resolutions mentioned above.
H.K. Banks £11 Do. (London) £17 Chartered Banks £29 Mercantile Bks. "A"
FOREIGN MAILS.
11
RADIO NOTICES.
The Radio Office, where full information concerning all wirolase merviçes may be obtained at all times, ie situated on the ground floor of the P. & 0. Building in Doe Vour Road, next to the General Post Olos,
Individuals and firms are recommended to register their telegraphio ad" dreasce at the Radio Office. No charge in m da for this,
8th Feb
$1,310)
$1,318
INWARD MAILS.
Do.
Bank of East Asia...
£19
£15 $95
FROM
Pus
DJ
Insurances
STRAITS
Kamo Maru
fth Feb.
Hakuan Maru
7th Feb.
Canton Ips
8715
$716
Underwriters
$1.68
North China
T160
U.8.A. 18an Francisco, 1 th January,
Foratuta, 3.PAN & SHAYOMA Euzor via NIGAPATAM (Letters only)
T160
French bankers and the Govern
8378
Union Ins...............
$375
$380
M.850 Yangtze Ins.......
$60
London, 9th January
Pro, Harrison
Menciaus...
8th Feb.
China Fires
310
Pros. Lincoln
10th Feb.
$340
H.K. Fires..
$825
$826
www.
Shipping
$251 Douglases
Pres. Cleveland Karmala
Taiyo Maru
14th Feb. Iath b
17th Fib
Steamboats
$43
Indos (pref.)
$70
Do. (def.)
93/-
Shell Transporta
93/6
$23
Water-boats .....
$23
Mining
#51
54/-
Kailans
14/
T13.60 Langkats (comb.) ....
T1.30 Explorations..
T.0 T.1
1.5
Shanghai Loans
T.3
$134
Rauba
$13)
21/
Tronoh Mines .....
Docks, Wharves,
The difficulties which the Bank: of England experienced in attrac-. ting and holding gold gave France its chance," During the past year, the Bank of England's gold reserves lost £19,000,000, while at the same time the Bank of France increased its board of gold by £75,000,000. Much of the French gold came from the United States, cutting down America's dominant position as the world's hoarder of the metal,
Officials of the Bank of France explain the movement of gold from America to Frame by the purchase in New York of gold by French private banks. The migration of gold from Britain to Paris is ex- a natural economic plained as phenomenon.
81484
$150 $5.65 $3.70 851 $31
T.196
910.10 T.86
France is economically prosper- bus and Britain is not. France has not a single unemployed man; Britain has millions. French agri- culture is prosperous with bumper sugarbeet, wheat and potato crops. British farming has suffered from taxation. France to-day exports $1280
366 more to her European neighbours than Britain doca, bank officials says, so the natural flow of gold is to Paris.
The Ministry of "Finance insists that France has no gold policy. 1ts only interest the Ministry in- sists, is in watching the weekly statements of the Bank of France to sure that the gold reserve inaka The transfer hooks of the Com-ever falls below the legal 35 per cent of the total issue of the bank's pany are to be closed from January 29 to February 3, and. from Febru paper. 120 1971 98) 83
ary 19 to February 24, all inclusive, ...73luring which period so transfers of
shares can be registered.,
Jan. Jas. 27.26 .... 274 274 .. 418 41
Nevada Consolidated Copper New York Central Northern Pacific Railway Pacific Lighting
Packard Motor Lar Paramount
Famous Luky Bailroad...
Petrusrlrenis
Pennroad Corporation... Phillipa Petroicum
Public Service of N. J. Radio Corporation Reading Railway
Reynolds Tobacco "B"
2211 280) 031 92
19
741
371 371
117 116
100
301 31
... 199 1001
CHI
sai
1175
87
.... 118
204 351
821 BOL 281 261 291 29
281 291
RAW SILK IMPORTS TO U.S.A.
INCREASED FIGURES.
[United Press.]
WASHINGTON, Jun, 29.
... 108 207
United States imports of raw 231 221
1929 totalled 87,000,000 94 93 silk in 281 271.pounds, "valued at G.$427,000,000. + according to figures made public 33 33 to-day. 118 1161 1944 193
801 869
54
31
301
266
201
197
This registered an inerente, of 11,500,000
valued 11 pounds, 850,000,000, above the previous year, officials of the U.S. Department, of Commerce.stated.
All other imported silk. declined in 411 401 quantity and value except brand 02 91 siks, which showed an increase of
400,000 pounds.
45 45
713 711
661
ББ1
Ung
05
95
01. ell 8 Bi 602 581 371 37 Ung, 671 Lag 781 Vag 134 131
58 59
103 103
1031, 102
Unq.
12 12
pit
90
41
431
20
GOLD BASIS FOR IMPORT DUES.
AMERICAN COMMENT "ON ACTION NANKING.
[United Press.) ·
WASHINGTON, Jan. 26.
Observers here believe that the
Chinese Finance Minister's plan for the collection of Chinese import
90 291 dues on a gold basis foreshadows
177 178
the solution of some of the more im- 841 86 mediate financial problems of the 84521 National Government at Nanking. 161 16
It may possibly result in the 78 78 building up of gold basis for 131 13 Chinese money transactions, it is
stated.
elt
61
108
ه بیرا
In recent weeks. the percentage "or gold has Avetuated betwrn AT and 48 percent. This is 20 far above the amount needed that the Hank of France feels it would be por business to allow more gold to lie dormant in its caves, earn- ing nothing.
T.193
$3,60 $14.10
$98
Benquets..
11.7 Do. (single)
Godowns, etc.
H.K. & K. Wharfa... $148
Providenta
H.K. Decks
Shanghai Docke
New Engineering"
Hoogkes ...
::::
BANGUAI
U.B.A. (San
$37
$30 $90
D.S.A. (San Francisco. 17th January},"
HONOLULU, JAPAN & SuiṛGH42 | U.8.A. (Sotti, 25th Januar,), JARAM?
& SHANGHAI
Francisco, 2nd January),
HONOLULU, JAPAN & Buanghat
OUTWARD MAILS.
REGISTERED and PARCEL MAILS are closed 15 minutes earlier than the time given below unless otherwise stated, and bere mails are, advertised to close at or before 9 a.m. registered and parcel mails are closed at 5 p.m. os the previous day.
For
Shangbai, Japan, Canada, U.S.A., C. & 8. America & *EUROPE via Vic- toria, BC-dae Victoria, BC, 21st February & Europe via, Biborin Manila...
9.90 AM
,་
9.30 AM 10.30 A
1,00
Kowloos P.U.
1.00 PM
DATE & TIME
Faeslay 4th,
Frez, Jefferson
14
$5.50
Japan
...
F
Swalow, Amoy and Fooobow
Trisondari Tanda Hatching...
Straits, Ceylon, Fadia, Mauritius, E. & 8. Africa, Egypt & EUROPE v Mar
eille due Marseilles, 7th March
Heg.
Achilles
+4
Letter 1.00 je
G.P.O.
Beg.
1.45 M
Cotton Mills
Lockers
2.30 M
Ewos
T.16
Baigon
1.00 FM
3.30 F
S'hai. C'tons (old).....!
T.83
1.34
Do.
(DAW)...
T.55
SWALOW & Amoy
T.10
Zoong Sings........
Bangkok
Bangkok
Bangkok...
Haiphong
!!!
!!!
12.85, 90
BE
T.195
Bornes
Shanghai, Japan & EUROPE via Siberia Kano Maru
Lands, Hotels and
Bulidings
H.K. & S. Hotels ...:265 HI.K. Landa....... 654 Shanghai Lands ....
H.K. Realtys $8 Humphreys ...... $14.35 Chinese Estates
Japan, Honolulu, USA., Canada, C. &
3. America, & EUROPE via Ben Fran cixo-dastan Francisco, 28th Feb.
Shanghai & EUROPE via Biberia Straits, East Afrios vis Mambars, Lour." onco Marques, South Africa & South American Ports
C. Lights (old).....
China Bases..............
***
323.40
$72
Tourne...
Stow...
4
Hoihu, Pakhoi & Haiphong Sandakan
Manila, Australia & New Zea'and ris
Brisbane-due Brisbane, 24th Feb...]
91.
Holbow, Pakhof & Haiphong" Swatow, Amoy sal Foochow
Public Utilities
$19.15
19.10/16
8133 86.05
Tramways
$19
Ber
Peak Trams (old)
Dr. Star Ferries
(new)
€73
堂中
$231
8711
3x3
8724.
Do.
(new)..
HLK. Electrics
Macao do.
623 821 80.05
T.16)
19/6
Officials of the Bank of France assured the United Press that France has no intention of con- tinuing its draining of gold from America and England. The recent purchases have been made by pri- $15,60 vate banks which have preferred to bring gold rather than American or British paper when settling in- ternational trade accounts abroad.
T.11
T.10
$21
Cantor Ices
$15.60
Cements (comb.)...
$15.55
313
Do
(old)...
8111
Straits
Do (now)...!
Shanghai & Dalny
$31
$71
Ropes
$7.50
81
827
Malabon Sugara United Asbestos
$5
*
The banks then sell the gold at a proft to the Bank of France, but the Government bank, itself, has dane very little direct purchasing of gold abroad.
Bank officiala 322.80 point out that America could soon drain all "France's gold if Amari- enn banks adopted the same tactics, for the trade balance is great- favour. The ly in Amerien's only thing which prevents this, is the cost of shipping and insuring the kegs of gold.
"Our gold reserve is ample, and we do not hope to see it increased.' an official of the Bank said. "Gold in the vaults does not work, nor does it carn. There is no inten- tion to use this gold to force a lower rate of stabilization for the franc. nor is there any desire to accumulate the world's largest store of goldin Hari We have platí, rds which we striving and no idea of specula tion.
EXCHANGE RATES.
[DRITISH WIRELESS SERVICE]
Sandakan Lights ........
Telephones...] $9,60 !
Tructiona
Do. (pref.)......
Industrials
Caldbeck, \(ord.) Macgregorfere£.)
China Sugars..
Miscellaneous
Dairy Farms.
$22]
Der A. Wings..
$0.60 $28
33
Amusementä
828
$1.30
Constructions... .............
$1.20
$18
Lane Crawfords... 83 Mackintoshs*****
$12
Nanyang Tobacco... 84 Sinceres (old)...
Do. Watsons
8107
891
8111
811
......... 89
5%
(new), *****
Wra, Powells
B. Ind. G.8 Eonds.. 61% H.K. Govt. Loán .... #105
LOCAL AND REGULAR OUTWARD MAILS.
alte, Caylon; India, Maurities, E. & 9. Africa, Aden, Keypt & Earope YİN Matreilles, 9th Marmilles doe
March
E
6.00 PM
Chusan
Bintang...
5.00 M
Kaying
5.00 PM
Wodnesday, 5th
Helico
19.30
Canton
1.30 PM
Rog..
4.16 M
Korea Maru...
{Latters. 5,00′′ M
Bog.
GIÚP
Korea Maru
Lottara
6.00"
Bingo Maru
330 PM
*
Okung Kong Linar
4.30 1 x
Thursday, 6th,
Menado Mar trixsang... Himalaya Maru
Reg.
ottor
Friday,
Limshore... Haryang...
Hokusan Marui
tex
Bellerophon Kingchow
.:
:
8.30 AM 10.30 A
415 M 6.00 =
7th,
8,80 A M
1.00 PM
Komicon P.U.
Reg. 430 8th, 9.00
0.2.0.
8.45 AM
Letters 8.30 AM.
Saturday, 8th,
Sunday,
2,30 r 6.00 x
9th. 9.('0 AM
9.00 M
Bunning
Monday, 10th,
5.00 M 500 FK
Tase lay, 11th,
... Hai Ning...
Foo Shing
Emp, of Busia
2.00 5.00
M
N
Swatow, Amoy & Formoss Bangkok via Swa'ow ...
Amey
BEBLOW...
Swatow, Amoy & Frochow Bwatow
Shanghal, Japan, Canada, U.S.A., C. & 8. America & 'EUROPE ria Van- couver, B.C.dae Vancouver, B.O., 1st Mar, & Europe via Siberia
•Shanghai & Japan AMOJ
Bezan Haru Kwangchow
Kubang
*
Parcels 1Letters
* Superscribed ourrespondence only..
Parcels 5.00 ► M
·leg,12th,9.15 AM Letters 16.00 A N
Wednesday, 12th,
8.30 AM
-3.30 P/2
Thursday, 18th,
8.30AM
Noon 1.00 x
Friday, 14th,
Koroloon PU Paroels 4.30F # Big.15th, 9.00 Lettert 10.00 AM
G.P.O. ¡Par14th. 5.00 ↑ m Beg,15th.9.45 a 1 Letter 10.80 & M
·Gibéria Maru Triyuan..
+
TEL
Boihow & Pakhoi and Haipi ong
Straits&Calentia
Chengtu Покана
144
no
WEEK DAYS.
SUNDAYS & HOLIDAYS
are
FOR
FROM Q.P.0.
FROM SHEUNGWAN BLASEN P.0.
FROM SHEUNOWAN
ВДАНСИ .G.P.O..
P.0.
(7.15 .. & 170.. 17.00 p.m. 18.00 p.m.
114
From
7.15 am. &) (7.30a.m. & 5.00 p.m. Sundays (5p.m. only
Straits, Ceylon, India, Mauritius, E. & B. Africa Aden, Egypt & EUROPE vis Marseilles-dus Maravillon, 15th March
7.00 p.13,
Canton
Sundays
7.00 p.m. Lonly
Ruosy, Feb. 2.
(7.15 am. & (7.30 am, &
Paris New York Brussels
123.07
4.86 16/32
Macao & Tainahan
(7.15 am. & 7.30 ..
1.151
1,36 p..
1.30 p.m.
31.933
Sundays 8,15 ..
է
Geneva
25.00
·231
80
374 35
125 1283 by protests on the ground of in-
While it is understood that the decision may be adversely affected
Amsterdam Milan
12.192
02.04
Kongmoon (except Saturdays) 5.00 pm. Kaukong (except Saturdays)...
6,00 pou
(only
6.00 p.
6,00 p.m,
Berlin
20.36
2. 133 531
***
03 921
92 00 immediate efect, the scheme is de- 49 58
sufficient time, so that the procedure
Copenhagen on a gold basis may not go into
Stockholm
18.12
Fatakan (By Train)
7.15 am.
7.15 GB.
13.19
Tai O
9.00 1.2.
9.00.1.10.
Oalo
18.21
(9.00 nm. &
clared to be sound and practical.
Vienna
31:50
Tai Po "
Prague
1841
Helsingfors Madrid
1031
36.60
Lisbon Athens
1081
875
Bucharest nio
BIB
6 17/32
44 7/16
1/57
Holiday. Holiday.
9/07/32
Sears Roebuck Bbell Union Simmens Company " Bouthern California Edison ... Bouthern Pacifio Railway Standard Gas & Electric Standard Oll of New Jersey... Standard Oil of New York Tema Corporation ...
Texas Gulf Sulphur Timken Roller Bearing Trans America...
Union Carbide & Carbon
Union Pacific Railway...
122 121
The whole question is closely link- 1101 114ed up with the fall in the price of
087 047
silver. This subject is being studied 82192 by authorities at the U.S. Depart 548 54
601 ment of Commerce with a view to determining the exact cause for the
74
44 43 audden and consistent decline, and 85 also of forecasting the probable. 222 219) trend in future.
BL
United Aircraft & Transport... 61 Unq.
United Dry Docks
U.S. Realty & Improvement
C.8. Stool
B
While financial experts will not og venture on extensive predictions, it is generally believed that India will not take an attitude which will pre- cipitate a 'further, decline in silver,
....1771 177
851 661 64 04 Wartinghouse E. & M. (Com)... 154-158
Vanadi
Buenos Aires
Bombay Shanghai Hong Kong Yokohama Silver .(spot)
Silver (forward)
106
.20
Shamchun
Cheungchow..
Aberdoon
Ftabloy
Autan, Pingshan, Santin,
Farmala
3.00 pm.
9.00 $
3.00
32.30 p.m.
& 4,20 p.m.
Baturdays 1.00p.m.
4.80p.m
9.00 ..
11.0 am.
(11.00am.
&4,30 p.m.
1.30 p.m. Sundays
8.90 $.. Lonly
6.00 p.m.
6.00 p.m.
WHEN YOU ARE DUE FOR LEAVE
Send a Chit to 11, Ice House Street, and order the Hongkong Weekly Press to be sent to you
8,30,
Three months
Six months.
:$3.75
$7.50
8.30 ..
1.00 p
1.00 pa
10,80 m.
Shatin, Shataukok and Shoungshai
3.00 p.
Twelve months
$15.00
J
4.80 p..
4.30 p.m.
7.00 p.m.'
7.00pm.
Brikung...
Namtan, Shekki' & Taiping?
(Fumin)