THE
**. "BIRAM”
CHINA-SIAM
HONG KONG-BANGKOK
LINE.
leaving Hong Kong 28th February via Swatow HONG KONG-SWATOW-AMOY
ma “HAI HING" leaving Hong Kong 97th February Accepting Passengers & Cargo for all the above mationed porta.
HONG KONG SINGAPORE PENANG-RANGOON Regular Express Service
TELJ
6th March
"HAI HING" leaving Hong Kong Accepting cargo for all the above mentioned ports.
Excellent passenger accommodation available.
For treight, pamage rates and all other information-Apply to
THORESEN & CO., LTD.
Tel. 30137.
Tel. 22533
General Agenta
USE OUR
"
HONG KONG DAILY PRESS, FRIDAY, FEBRUARY 26, 1937.
THE EXCHANGE
MARKET
MESSRS. ROZA BROS.
Hong Kong, Feb. 23. The price for Ready Silver drop- Ded 1/16 yesterday but the For- ward rate was unchanged, the quotations being 20 1/16 for both deliveries." Silver advices reported America as having bought. China sold. India resold to a small ex- tent. The market closed stendy, After the official fixing the market continued steady owing to some general demand. American Silver was quoted at 44 3/4 for Spot:
The London-New York cross- rate was quoted at 488.98. New York-London was quoted at 4.89 1/32.
MARKET
Dull, steady.
STERLING
ין
NEW YORK STOCK EXCHANGE
(Through Renter's Service!
New York; February 26.1
QUOTATIONS
New York/London Cross-rate New York Cotton-May New York Rubber May Chicago Wheat -May Chicago Corn -May Silver Oficial
Dow Jones Averages
50 Industriais 20 Baila
20 Utilition 40 Bonds
Last Today's High Low Close Close Change 4.89-1/16 4.80-1/39 1/32 off 12.68 13.49 1948 12.58 21.83 $1.50 31.47 21.86
131 1301
1301
131
1061 108) 1004 1001
11 Commodity Index 81.57 85.58 74.98
.19 up .38 up
B3
431
13
DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE Sailings
Trendent Liners' tregoni sailings and their uniquil stopover pelillages allow you to travel just exantly as you choose. And Dollar Steamship Lined and amariona Mill Lane wekwicks osu sad agents are maintaised to serve you ashore in whatever plaon, you shanon sa be. Make your next trip mors enjoyable, traveling. The Prendaht Line way!"
TO SAN FRANCISCO NEW YORK AND BOSTON
Via Shanghai, Kobe, Yokohama, Honolulu. San Francisco, Parama Canal and HavaUA. Pres. Hoover ProL. Cleveland
Pres. Coolidge Pres. Tatt
Prei. Hoover Pros. Lincoln
TO SEATTLE, VICTORIA **THE EXPRESS ROUTE"
Via Shanghai, Kobe and
Yokohama
Mar 6th Pres, McKinley Mar. 24th Pros. Grant Apr. 3rd Pres. Jackson Apr. 21st Pres. Jeferson May 1st Pros. MoKinley May 19th Pres. Grant
EUROPE, NEW YORK
Via Manila, Bingapore, Penang, Calambo, Bombay, Baez Cana Napfor, Genes and Marseilles, Pres. Hajos
***
Mar. 13th
Mar. 37th
Apr. 10th
Apr. 14th
May 6th
May 22nd
MANILA
THE MOST FREQUENT SERVICE
Next Sailings
Mär. 5th Pres, Hoover 8 min. Feb. 38th Mar. 6th Pres. Hayes
Mar. 17th Pres. Wilson. Mar. 28th Pren. McKinley Apr. 11th Frea Monroe
Apr. 75th | Pròs, Cloveland
יזי
MOST FREQUENT, "JKKVION ON THE PACIFIC
Mar 6th
Mar. 6th
Mar. eth
Mar. 17th
Mar. 17th
DOLLAR STEAMSHIP.LINES
* AMERICAN • MAIL • LINE *
PEDDER SEILDING—HONG KONG.
CANTON BELÍCH -t), FRENCH CONCAASION, SHAMEEN,
Germany's Trade
With China
Trade developmenta between Germany and China, including Manchoukuo, in recent years have in shown a gradual expansion German exports, and during the first six months of 1936 an advance In German imports.
Pup
up
unchanged
1930
Feb. 81.
High Low Feb. 33. High Low Close Uhange 130.70 143.11 186.00 187.86 188.18 187.35 .83 up
80.48 40.88 57:16 57.81 67.10 67.73
,28 up 37.78 38.23 3402. 34.41 33.81 3480 108 01 08.02 104.24
104.0% J
74.87 "Basiness Done: -2,080,000 shares.
.18 up .9% off .40 up
Stocks
Adams Exprasa
Last Bale Feb. 23. 24
181
18 Allis Chalmers ..... 72 Amer. Can ****
Last Sale
Stocks Great Northern Rly. 471
Feb. 23. 24
48
717
Great Western Buga! 363
361
1061
107)
Holly Sugar. Corpn.
Queen's Building.
No business was reported. There were sellers at 1/2 29/32 Febru- ary-June, buyers at 1/2 15/16 for any delivery:
Am. Car & Foundry
Humble Of ....... 84
Amer. Gyanamid 321 Amer. & Fot. Power 12) Amer. For. $7 pf. 66 Amer. Locomotive ... 521
Amer, Radiator ......... Amer. Metals....... 61
Amer, Rolling Mill. Amer. Smelting
-$21
Int. Nickel 70
131
Int. Tel. & Tel.......
13
71 131
64 54
Int. Dept Stores 321
311
Kennecott Copper
631 643
641
Lambert Corpn.
221 22
Prea. Wilson
ཏུན་
262
Loew's Inc.
72
744
Prez. Monroe
361
361
Lorillard
.......... 261
261
Pres. Adams
Pres. Harrison
1E+
97
971
McIntyre Porcupine
Pres Polk
Amer. Steel Fdries. 64) Amer. Bugar...
651
McKesson & Robbins 461
16
50 Amer. Tel & Tel... 176} Amer, Tobacco "B" 941 Amer. Waterworks .... 251 Anaconda Copper ... Atchison, T. à 8. F. Atlantic Refining .. Atlas Corp. Auburn Motors ...... Baldwin Locomotive
$7 cum, pf. ......... 112* Baltimore & Ohio... 27 Barnsdall Dil Bendix Aviation Bethlehem Steel Boeing Airplane
441 454 Borden Co. *****
283" Briggs Mfacturing 541 Brooklyn-Manhattan
501
Monsanto Chemical 951
9311
175+
Montgomery Ward.. 603
62
'941
Murray Corp. ...... 18
181
26
Nat Cash Register 354
38
63+
651
Nat Dairy Products 233
24
74
741
Nat Distillers
29
29
331
327
Nat Power & Light 124
12歳
18 31
18
New York Central... 441
447
311
Niagara Hudson P.
Corpn.
151
15
112
North American
30+
301
27
Northern Pacioc
302
31.
31
304
Pacific Gas & Elec. 33
33
Paclac Lighting
47
464
911 93
Packard Motors
11
11+
B
Paramount
24
29.
261
Pennsylvania R.R.
44
Steady Increase In Exports
541
Phelps Dodge...........
Phillips Petroleum. 52
53+
PRICE RISES BANNED
Trans
.48"
474
Brooklyn-Manhattan
Public Service of N.J. 481 48. Pullman Inc.
$6 cum, pt.
300* Case, J.I............... 135 Canadian Pacing .... 161
993
Pure Oll
197
694 deleted
197
158
Radio Corpn of Am. 11
111
161
Republic Steel
......: 35
35+
Celanese Corpn. of
Reynolds Tobac, “B” 55į
551
America
331
34
St. Joseph Lead Oo.
at 30 3/8 February-May, buyers at 30 7/16 for any delivery.
Cerro de Pasco
742
751
201
781
65
125
174
1011 618
Schenley
451 46 Schenley 51% pl. ... 97. 971 Bears Roebuck' 881 881 Shell Union Oll ...... 321 deleted Bocony-Vacuum 181 184 Southern Cal Edison 29 283 Southern Pacific 51 52) Bouthern Rly 5% pf. 32}
*** *321
181
Stand Brands .... 15
352
31
Stand Gas & Elec. 121
121
Stand Gas & Eleči
cum. pf.
041
63
37 pf.
63
631
Consolidated "Edison 42
424
Standard Oul of N.J.
72+
721
Consolidated of
16
16
Sterling Products,
Tit
714
Continental ON. Corn. Products ....... 16
43
417
Swift International 31
304
Curtiss Wright (C) 7 Curtiss Weight "A" 201 Delaware & Hudson 491 Del Lackawanna &
120. Western Distillers Corpn Ben
krams Douglas Aircraft ........ Du Pontgabha Electric Boat Elec. Bond & Share Elec. Bond & Share
$5 pt. Elec. Bond & Share
se pf. Elec Power & Light Elec Power & Light
$T pf......
78
..7
Technicolor
10+
198
Texas Gulf Bulphur 401
41
201
Tidewater Assoc. Ott 201
21
491
Timken-Detroit Axle 281
20
Transamerica
....... 184
122
20th Cent Fux Films 341 20th Cent. Fox Filmes
161 34
1932
25 827 1701 171
25
pf.
431
$41
Un. Carbide & Car-
1934
64.47
37.88
108
bori
1071
1935
57.70 47.79
144 251
15
Un. Pactic
1202 133
1936. 67.94
65.08 .2.28
25年
United Aircraft
207
30
Imports of foodstunk during the
*
Un. Airline Trans-
77* 771
201
21
port
3411
United Corpn.
81
841
221
23
United Corpn.
$3
444
434
cum pi.
367
Un
Gas, Tprovem't
15
154
361
Firestone Tire & R
421
Un. Light & power
1421
"A"
Fintkote
U.S. Industrial Alco-
9
87
47.
47
383
391
Gen, Asphalt Gen. Cigar
hol
501
591
57
587
U.S. Rubber
431 431
Gen, Electric
651
651
U.S. Rubber $8 DI. 1091
Gen. Foods
801.
U.S. Steel
1107
611
31
Gen. Motors
Vanadium
Gen. Railway Signal Gillette Safety Razor Glidden
Warner Bros Pict....
141
1117 1111
311 152
25
251
Westinghouse.
Elec. 1521
150
Youngstown
Shect
481
48
83+
84
¿ Tube
39.
301
Chase National Bk. 801*
87-
86
381
381
National City Bank 574* Call Money
i ex diy,
803. 573* 1% 1%
• Bid
Letter Paper Envelopes
$1.50 per 100 Sheets $1.75 per 100
ON SALE AT
DAILY
Germany's exports to China con- stat mainly of finished goods, In- cluding a large proportion of tron and steel goods and machines and. in a less degree, patent medicines, papers, cardboard and aniline dyes. German imports from China have risen recently in consequence of extensive imports of soya beans from Manchoukuo.
The following table Illustrates the movements in exports and im ports and the decline in the Ger- man adverse trade balance:-
(In' million Reichsmarks).
German German Germany's Jan.-June imports exports to
adverse' from China China balance
85.17 43.30 41.87 411 1933 ... $4.56 39.82 : 54.74 26.59 9.91
CONSIGNEE NOTICES.
SERVICES CONTRACTUELS DES MESSAGERIES MARITIMES
CONSIGNEE NOTICE.
SS. FELIX ROUSSEL
7'A/37. BRINGING CARGO From MARSEILLES, via Ports, etc. ARRIVED HONG KONG OF FRI DAY, THE 19TH FEBRUARY 1937,
CONSIGNEES are hereby informed that their goods with the exception of Opium, Treasure and Valuables are being landed and stored into the Go downs of Hong Kong. Kowloon Wharf & Godown Co., Ltd, Kowloon, whence delivery may be obtained immediately alter
landing.
All claims must be sent in to me on before the Tuesday, 2nd Mar., 1937, or they will not be recognized.
Damaged Packaged will be examined Company Surveyor, Means. Goddard & Douglas in the presence of
Consignees at 10.00 am. on Thurs 21th Feb., 1937.
by
the
signees must have a Revenu Officer in attendance when any datiable goods are stamined by the Company's Surveyors
No Fire insurance will be effected by us in any case whatever.
R. OHL,
Agent.
Bong Kong, 19th Feb., 1937.
[3055
S.S. "BENNEVIS".
Sailing for LONDON, ROTTERDAM, ANTWERP, HAMBURG and LEITH on or about the 9th March.
Cargo will also be accepted on through Bill of Lading to the usual transhipment ports.
Next Sailing for SHANGHAI '& JAPAN S.S. "BENDORAN 8th March.
For Freight and Passage apply to:---
W. R. LOXLEY & CO., (CHINA) LTD.,
York Building. Agenia:
THE BEN LINE STEAMERS, LTD.
SPECIAL
AEROMAIL
+i
LETTER PAPER & ENVELOPE
AND
PAY LESS ON POSTAGE
HONGKONG
15-19, Queen's Road, Central.
STEEL SHORTAGE PROBLEM
U.S. Government Might Begin Manufacture
Washington, Feb. 24.
PRESS Telephone 30251.
BRITISH TRADE DEFICIT
Fears Set At Rest
London, Feb. 24. Speaking at the National Liberal Club to-day, Mr. Walter Runci- man, President of the Board of Trade, drew attention to. Great Britain's apparently over-high im- port total, but insisted there was not the slightest need for appre-
A hint that the United States might begin the manufacture of steel on the Government's account. and dispense with the services of private industry. If the present shortage in naval building yards continuce, was given by the Secrehensiveness. tary for Commerce, Mr. Daniel C. Roper, to-day.
U.S, DOLLARS
A small business was reported at 30 7/18 for rear and 30 9/8 May. The market closed at 1 p.m. with sellers at 30 3/8 February-April and 30 5/18 May-June, buyers at 30 7/18 February-May and pro- bably 30 3/8 June.
SHANGHAI DOLLARS Business was done at 102 5/16 for cash, There were sellers at 102 1/4, buyers at 102 5/16 for cash.
SHANGHAI MARKET Opened with sellers of Sterling at 1/2 9/16, buyers at 1/2 19/32 but later the market was reported as being steady with sellers at 1/2 19/32 for cash, buyers at 1/2 5/8 for cash. U.S. Dollars, sellers at 29 11/16, buyers at 29 3/4 for cash. IN THE AFTERNOON The market" was dull in the afternoon.
IN STERLING
No business was reported, finish- ing with sellers at 1/2 29/32 February-June. buyers at 1/2
15/16 for any delivery.
U.S. DOLLARS
The market closed with sellers
SHANGHAI DOLLARS The carket closed with sellers at 102 3/18, buyers at 102 1/4 for cash. Business was done at 102 1/4 for cash.
AMERICAN PIG IRON FOR JAPAN
30,000 Tons To-Be Delivered In Second Half Of 1937
Bringing to
a total
of 180,000 tons the purchases of American pig iron contracted for by the Japad Iron Manufacturing Co., a new Jeal providing for the de- livery of 30,000 tons during the latter half of 1937 was concluded recently. The Japan Iron Manu- facturing Co, last nutumn signed a contract for the supply of 150,000 tons of pig iron from January to June this year at the former price of 7.150 a ton.
Japan formerly purchased only small quantities of pig Iron from the United States. obtaining her supplies mainly from Russia, India and China.
BARTER DEALINGS
BANNED
CertainTeed P'ducts 191 Chesapeake Corpn. 782 Chesapeake & Oblo 65. Chrysler CorpIL..... 1251 Columbla Gas & El 174 Columbia 6% "A" på. 1004* Commercial Credit 581 Commercial Bolvents 181 Commonwealth & 8. 311 Commonwealth 50
Berlin, Feb. 24. Private barter transactions with Egypt. Sudan, India,
Ceylon. Burma, Siam, Straits Settlements,
Gold Dust China, and the Philippines are "Goodrich (B.F) henceforth forbidden, by order of Goodrich $5 pf. "Last night," he said, "we made the Foreign Currency Controller Goodyear up our totals to balance payments. because private barter
does not
Asked at a press conference whe- ther there were aby prospects of in our invisible exports we appear-cies, which the Reichsbank re- a reduction in tariffs on steel, Mr. ed to be £340,000,000 astern. Our qutres: Koper replied: "I should be more imports appeared to be much too likely to look for Goverment pro- large. We do not need to be ap duction of steel"
prehensive about that.
It was found that until we brought yield a surplus in foreign curren-
Mr. Roper admitted that an im- "We have been able to pay very portant question, which would have nearly the whole lot. By the time to be worked out, was whether the we have added invisible exports our Government could use patented | deficit (in trade) is £19,000,000 in- processes for the manufacture of stead of £340,000,000. It is steel, since these patents belong to absolutely negligible," he assert- private industry.... Router.
REICHSMARK RATES
Berun, Feb. 24," The Reichsmark was quoted, without guarantee, at
New York
40.23 Paris
864- Amsterdam ....... 78:45 to 73.50 London
12.182. Paris Pound sterling ... 105.12.
to 105.15 Parts US dollars
21.482 to 21491. Transician News Service.
ed. Reuter.
MOTOR SHOW POSTPONED
Complete cessation of private barter transactions are expected in the near future. Reuter.
!
PORT OF LONDON'S RECORD YEAR
The Port of London set up new
frécords in 1938.
•
The Port was used by shipping registering 62,168.833 net tons, com pared with the previous record of 59,742,150 tons in 1935.
p
WORLD'S COTTON
CROP
NETHERLANDS PRICES
China May Absorb Her Own Room Develops Since Guilder
Increased Yield
Devaluation
first six months of 1938 amounted
CONSIGNEES NOTICE.
to over two-thirds of the total im-THE BEN LINE STEAMERS, LTD. ports-namely. Rm,42,610,000 (£3.- 600.000).
BAN ON PRICE INCREASES The order forbidding price in- creases in Germany has now de- finitely been extended to include the sale price of imported coal.
It will be interesting, to see what
effect this order will have on coal imports. If the price of foreign coal is raised for the German im- porter, the latter will have to bear the loss and will not be allowed to make it good by raising his sale price to German customers.
In all probability. German coal importera will therefore, tend to purchase on those markets where currency disparities allow of a sufficient surplus to make trading worth while..
The future of Germany's motor export trade is very uncertain. On the race of it, exports of motor vehicles have shown, a marked advance (over 30 per cent) during the first 10 months of the current year.
which was Germany's main outlet The loss of the Spanish market.
FROM LEITH, MIDDLESBRO', ANTWERP, LONDON AND STRAITS.
THE 5.8. BENNEVIS."
CONSIGNEES of Cargo are hereby informed that all Goods are being landed at their risk into the hazardous and/or extra Eazardous Godowns of the Hong Kong and Kowloon Wharf and Godown Co, Ltd, whence and/or from the harves Delivery may be obtained.
No Claims will be admitted after the Goods have luft the Godowns, and all Goods remaining undelivered after the 27th Feb., 1937, will be abject to Bent. All Claims against the steamer must before the 13th Mar. 1937, or they be pressated to the Undersigned on or will not be recognised.
То
comply with the General Bonded Warehouse Regulations, consignees must haze » Hevenus Offcer in attendance when damaged dutiable goods are
examined
All broken, ahafed and damaged Goode, are to be left in the Godowns, where they will be examined on the 25th 1937, 9 by Mesere. Carmichael & Clark
No Fire loanrance has been effected. Bill of Lading will be countersigned
15061
The world: cotton crop this year The slow increase in the prices of is estimated at 66,000,000 quintals, colonial products which has been representing an increase of 10,- noticeable since 1932 has developed 000,0000 quintais as compared with into a real boom since the devalua for motor-car exports, is a serious hy n last year's crop, figures published tion of the guilder. Since the be- blow. Exports to Spain, which in W. H. LOXLEY & CO. (OBINA) L29. here by the International Institute ginning of devaluation; prices for June of this year totalled 987, fell
Agent. of Agriculture reveal. The increase tea have increased by 30 per cent.:
to 689 in July, 130 in August, 11 Hong Kong, 18th Feb, 1987 will be chiefly due to larger sowing tin by 40 per cent; sugar by 50 per
In September, while in October acreage in the United States, China cent.; rubber by 64 per cent;; white they ceased altogether. and Soviet Russia.'". Moscow, Feb. 24.
pepper by 97 per ent, and copper It also remains to be seen what A noteworthy feature was the It is officially announced that the large number of new vessels: Somethe Institute at 28,000,000 quintals: cates the general rise in the world currencies will have upon Ger- Existing stocks are estimated by by 110 per cent. This clearly indi-effect the devaluation of European International Motor Show that had 40 new freight and pastenger liners Economic experts here do not fear market prices with the 20 per cent.many's motor exports, been planned for 1937 here, will be were added to the port's regular that the announced increase in "pro- devaluation of the guilder being postponed to 1940. No reason is services." Elven, but is is presumed that the The Board of Trade's preliminary prices, since China and the USSR tance.
duction will result in a drop in only of relatively minor impor- quality of Soviet products is not figures for other ports are: Liver- are expected to absorb their own such as could be advantageously pool, 34,304,800 tons; Southampton, increased yields On the other shown at an international exhibi-25,712,142 tons; Hull 11.902,421 band, it is pointed out that world tion.
tona; Manchester, 7,775,720 tons: Tunaan New Serie
demand for cotton remains satis Bristol, 7,321,302 tons.
factory with prices on the upgrade.
. 1
world prices and with the volume therlands colonies will increase to On the basis of the increased value of the exports from the Ne- of exports remaining on the same 780,000,000 guilders in 1937. compar- level as in 1930, the Board of Sta-ed with 445,000,000 guilders in 1935 tistics estimates that the total and 535,000,000 gulidera in 1936,
ADS