1881
$1,4
Markets the world over have been easy during the past week, and this ensiness is attributed to 31.8BA £119 | fear of the American gold, prices
·Elbi
fear does being lowered, which not appear to have been entirely altayed by President Roosevelt's statement that such a rumour is entirely in the Imagintaion of the Foreign press. The Manila mar- ket has continued its downward slide and our own market has also been somewhat depressed by the prevailing weakness abroad al- though on the whole it can be described as' remarkably steady in view of the adverse factors cise- where.
Prague
Brussels
Rio
Bucharest .............
12
DAILY SHARE QUOTATIONS
Hong Kong Stock
Exchange
Sharebrokers'
Association
HONG KONG DAILY PRESS, MONDAY, APRIL 19, 1937.
THE SHARE
MARKET
LONDON EXCHANGE RATES
(British Wireless Servico)
Saturday, April 17.'
Kellosa 090 Noaill
SATURDAY. APRIE. 17.
Lare
Messrs. . A. Harriman & Co.'s market weekly share report and review Issued at
to-day states:-
April 15. 110 1/64
Apr. 1.
L
110-1/64
Parts
21.514
21.53
noon
Geneva Berlin
12.21
13.22
Authorised Capital $50,000,000 Issued & Fully Paid-Up. $20,000,000 Reserve Funds:-
BANKS
HONG KONG AND SHANGHAI | THE CHARTERED BANK OF INDIA
BANKING CORPORATION
AUSTRALIA AND CHINA Incorporated by Royal Charter, 18TI
L
HEAD OFFICE: LONDON.
5471
Athens
934
Sterling
£ $,500,000
Daaka
Mulan .....
93-5/16
Hong Kong Currency
22.40
#1466] $1,463)
£119
2154
2337
M.K. Banks
Copenhagen
Reserve....
$10,000,000
19.30)
zo (London)... Cuurtored. Banks ........ Mercantile Bɛs. “A”
Stockholm
1/2
1/2)
Shanghai
4.901
£151
Do.
Buuk of East Asia... N. 0. & B. Bakke... insurances
82 483 21
1283
18 Venezuela Gvid Fida.
2331
188 .S
$320
Canton lustrMINDON...
Union InsuraINING ...
1318 1090
Underwriters 12
31.40
H.K. Fireskoski
$283
International Asson, S.
Whipping
436
· Douglases. ......
39
Stambosta
135
Indoe (pref.) unseen
$50
Do. (dot)
115/-
Shells.41**
$9.45
Waterboats
Mining
*1/6 Kailas
#13,20 %
4.19-9/16
New York
8.962
Amsterdami
Vienna
8.981 28 1401
Madrid
Keban
110-3/18
Hong Kong Mod
Bombay
1/8
29.12)
Montreal
29.18
4.901
4.01 -
*****
J. K. Bousfield, Esq., A. H. Compton, Esq., S.. H. Dodwell, Esq.,
18
19
$35
114/4 $2.
2,0
$13
.6.20
w
Yokohama
Belgrade
Monte Video
213
J. It. Masson, Esq.,
391
++
670
6671
20 13/18
20 13/18
20-11/18
31% 102 15/18.
3% 103
a
"Godowns, etc.
Proments (ully $1.95 Do. (now)
Docks, WharVOJ,
$1161 H&K. Whaqyou.
114)
26 cts.]
20 ats
$304
1.K. & W. Docks
SENI
$14.9
Shangmai Dock
S.
$101
$31
New Engineeringað,
23
Amoy
Bangkok
Branches:- Iloilo Ipoh
April 17, 1837.
ON NEW YORK:--
Batavia
Johore
Pennog Rangoon
་བ
Bank Bills, on demand 30%
Bombay
Kobe
Saigou
Telegraphic Transtar... 11/2" Bank Bills, on demand Oredits four months'
sight
Credits, 80 days' night. 301
Calcutta
17/39
OM BATAVIA:-
Canton
Kuala
cisco
On demand
Chafoo
O Pants:-
Colombo
London
1/0 1/31
#
#
17.I
335)
F105
*16
$10
$60
--
$74
Cotton Mills
$18
8:17 $42
Bhai Cottous(old 5.
Do.
news
31
Zoung Sings... S.
144
Wing On Textiles(S.) $60
Public Utiles
$14.80
$961
$14.45 14.30/35
$224
314
H+
160
Lands, Hotela, and
Bai dings
j4;K. Hatala ... ada
It. Lands.......................N..
Do. 4% Debentures
Soangin Lande.... Metropolitan Lands..
.K. Noalties.......................
China Do............
Do. Delontarans.
Humphreys
Chinese Estaten......
ON SHANGHAI :~~~ ..
On Demand
Bank Bills, on demand 630 Credita, 4 month's sight 705 --
Dairen
Foochow
103.
Haiphong Manila
*****
37.18
Id
+35
$101
$6.
Le
ON BINGAPORN-
"On demand
673
Hamburg
Muar
On demand
525
OF MANILA:
Hankow
(Joborc) Tokyo
On demand
3#*
Harbia
Mukden
Tsingtao
Reserve Liability of "
Proprietors get $20,000,000
Head Office:-HONG KONG
Board of Directora. G. Miskin, Esq.,
Hon. Mr. M. T. Johnson,
Deputy Chairman,
K. S. Morrison, Esq.,
Hon. Mr. J. J. Paterson, T. E. Pearce, Esq..
A. L. Shields, Esq.,
V. M. Grayburn, Esq.,
Chief Manager.
Peiping"
Kowloon San Fran.
Lumpur Shanghai
Singapore Lyons Sourabaya Haloos Sungai
Patani Tientsin
prietors
"Agencier and Branches--
ALOR STAḤ ILOILO
AMRITSAR BANGLOS
KORE KUALA
LUMPUR
PEIFING
(Paking) PENANG
HONG KUNG BANGOON
BOURABAYA
... TAIPING
TIENTHIN TORGIAŁ
(Bhuket, TRINGTAO ΤΟ ΚΟΝΙΑΜΑ
AMBOANGA
FORMIGN EXCHANGE and General Banking Business transacted,
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for On Year or shorter periods at rates which will be quoted on applica tion.
The Bank's Head Office in Lon don undertakes Executor & Trastes business, and claims recovery of
·British, Income Tax overpaid, on terms which may be ascertained at any of the Agencies and Branches.
A BREARLEY,
Manager.
Paid-up Capital.. Reserve Fund Reserve Liability of Pro-
£3.000.000
£3.000.000
£3.000.000
Chairman.
BATAVIA BOMBAY CALCETTA CANTON CAWNYORK CKED.
COLOMBO
KUCHING MADRAN
MANILA
DALE1
HAIPHONG
MEDAN NEW YORK
NAMBURG
BANIOW
HARBIN
SAIGON
IPON
BEHAPANO
KARAOHL KLANG
BEREMBAN
SHANGHAT
SINGAPOR
BITIAWAN
On JAPAN :----..
On demand
106
ON BARUKOR:
Hongkew
New York Yokohama
On demand
1497
ON INDIA:
SOVERLIONS
Bate
Bank" Buying
BAR SILVER, per ca
EN S.
H.
$13.
I
STOCK EXCHANGE
$15
Do.
187
Star Furned
518
Chins Lights (vld)...)
Do,
14.40/30
$12.60
'Tramways a
Poak Teams (old)... 344
(now)... 1.10
Yaumati Ferries
(new)... $13.9)
H.K. Electric ...... Macao do.
Saudiakan Lights ........
Telopbunes (old)
Dai (ROW)
*
Chine Buses...
859
8594
$18
$112
27/0
Industrials
116
$30
£8/6
دناء
Tractions
Do. (prof.).
$18) Caldbock, 10 d.
$17.
Macgregors (pes.8.
32
$1.
Canton ices
115.30 $161 $15.40
Ceouts
801
Ropes...
Miscellaneous
$26
43 cla
Dairy Farma........
(now) 45 sts.
14,70 $1.80
Ch. E'tainments...... $1,50.
Constructions, (old)]
.Do.
10
Lane Crawfords.......
Nanyang Tobucco.....
+
$3.10
Sincerca
$5,80
987.
prem. 81% prem. 17%
Watsons....**
C. Enterprises
C.G.621925G,Eds.
H.K.
Govt. 4% Linaas
ל 4
The Colony's trade continues to expand and business in Hong Kong is better to-day than for long past, so that discerning in- vestors should take courage and pick up shares now, at what, the year's end may look Hike bargain prices. At the annual meeting or the Hong Kong and Shanghai Hotels, held on Friday fast. the chairman announced that the company is doing well, and this
company's business is Burely a barometer of. local con- ditions.
Utility shares are a shade lower an the week; Hong Kong Electrics
to 591 having shaded off
and China Lights (old) to 14.30, Tele- phones (old) have eased to 291 and the New are just 124. Trams rose to 18.10 but are now 14.80. Star Ferries have sellers @ 864. There with no indicated buyers. are still buying enquiries for Peak Trams (old) 541 and for Banda- kan lights @$12.-
Silver (Forward) Silver (Spot) War Loan
On LONDON:-
Closing Quotations
Telegraphic Transfer... Bank on demand..........
SATURDAY'S OFFICIAL QUOTATIONS
Cements keep very steady," and although slightly under last week's quotation, have good buyers $15.30. Ropes declined to sales @$5.25. Dairy Farms are wanted @$25. after sales under this and Watsons offer 354 cum. Sinceres are quiet, either side of $3.00.
Ewos are lower around Sh.$16.30. The market was neglected, and Hotels, the chairman's optimistic little or no interest displayed ex speech notwithstanding. have aub-cept in Cements, which were en- sequently dropped $7.20 ex. divi- quired for at the current level dend, Lands are down to $354, but Realtys are wanted @ $53. and Humphreys @ $9.- Wharfs were sold $116. and Providents (old) down to $2.00. Docks. Also have | last night eased off to $2911
Bank of East Asia are in en- $16,3) | quiry @ $91 and Hong Kong Banks 16.34
exchanged @ $1855. Insurances are quieter. with Unions $830 cum middle. Hong Kong Fires sellers $285 and Underwriters et. $1.45 The Manila market has been downward all the week and quota- tions all round have been affected by the general decline.
126
41
-$4.55
11.50
19
$3
31
96%
Da,
24%
$108
(101
The
Wallace Harper.
$60
H.K Wing On
$45
S'hal Do
$100
$7
Vibro Piling
重
26/.
7/6
40 cts. Wm. Powalls
(H.K.)
Maramans Inv. (Lon.),
•Sales to Shanghai
SPECULATORS ON COMMODITY
MARKET
London, April 17. Commodity' speculators who su- stained huge losses during the week, left the City to-day in dis- gruntled mood and at a loss to ex- plain why commodities, hitherto regarded as the easiest way to get rich quick, should have turned round so suddenly and sharply.
Some operators are even sug- gesting that the fall was inspired by the British and American Gov- eraments, who were admittedly perturbed at the previous rising ..trend of commodities
CAUGHT
LIMITED RESERVES
Closing Comment-Hong Kong
steady, Manila continues easy.
་་
THE EXCHANGE MARKET
MESSRS. ROZA" BROS.
Saturday, April 17. Silver prices dropped 1/8 yester- day for both deliveries, the quota- tions being 20.11/16 for Ready and Fordward. Silver advices reported speculators as having sold. India bought at the decline. The market Many speculators are people with closed steady after the official very limited reserves and when the fixing a small business. was arran- markets staggered under the goldged at 1/16 under the quoted rate. scare, they were compelled to sell, American Silver was quoted at 451 thereby releasing an avalanche of for Spot, stop loss orders on the market where consumers generally are was quoted at 4.911. New York/ The London New York cross rate
London was quoted at 4923/16.
holding off.
Wheat was particularly weak owing to cessation of German and Italian purchases and bearish American crop news,"ând many other commodities were being sold to raise funds to meet losses sustained in wheat.
MARKET
The Sterling market was rather neglected. There were some activi- ties in the US, Market. STERLING
There were sellera at 1/2 29/32 April/December, buyers at 1/215/16
*This is scouted by well-inform-
ed quarters, who stress the fact Pending outcome of the various that an unwieldy speculative post-settlements, nervousness persists for any delivery. tion has been built up in commo- on all markets.--- dities during past months,
SINGAPORE RAW
RUBBER
a. b. JOSEPH & CO:
Hong Kong, April 17.
Tr
Messra H. B. Joseph & Co., re-
for Raw Rubber:
Spot May/June July/Bept:
Reuter,
THE NUTRITION COMMITTEE
U.B. DOLLARS Opened with Bellers at 30.0/16 April/May and 30.1 June/August, leading to business subsequently at 30.9.16 for July and Also August The market closed with sellers at 30.9/18 April/July and 304 August/ Généva, April 17. September, buyers at 1/16 higher The Mixed Committee of Nutri-respectively. tion met for its third session, with
SHANGHAI, MARKET
ceived the following quotations | Lord Astor (Britain) in the chair. There were sellers of Sterling at from Singapore in Straits Currency In conformity with the 1936 as-1/2.17/32, buyers at 1/2.0/16 tor sembly resolution, it is examining Cash. U.S. Dollars sellers at 29.13.16 Buyers
the agricultural and econóráið ás-
for Cash buyers at 292. 37 Down pects of the nutrition problem, STE DÓWNA * Documents prepared by the Lea- ..... 971 Tóth #gue Bécretariat wil nerve ag” thế
371 Down 1: basis of discussion for the draft Kaslers. Tendency | ing of the report.-.
British Wirder
Oct./Dec. Market:
SHANGHAI DOLLARS
A fat arddunt of business was arranged at 102.7/18 for Cash There were sellers at 102.7/10 for Canti: kuyers KI-
HIGH PRICE
GOLD
Current Accounts opened in
-1/231/32 | Local Currency and Fixed Deposits
20 /18 | received for one year or shorter
THE CHASE BANK
periods in Local Currency and 1, QUEEN'S ROAD CENTRAL Sterling on terms which will be
OFquoted on application.
Imminence Of Inflation
London, April 17. Following last week's
rumours over the price of gold, which the "Economist" dismisses as patently absurd, the paper investigates the Prior to the usual Manila ad- long-term prospects of the metal.
At present the price of gold is vices, the following was announced "The Governing Commitee of the high enough to give producers a Manila Stock Exchange decided generous profit and also stimulate stocks being releasing of that no short-selling the
hoarded in India. would be permitted except by per-
Demand is confined to a limited mission of the Committee."
The
market remained steady number of government funds and central banks who are prepared to throughout the moring, with a certat amount of business report-buy without mit at generous ed at or very slightly under the prices. level prevalling at last night's close:
BUYERS
Hong Kong Banks, $1853. Bank of East Asia, $881- Union Insurances, $8174 ELDİV Underwriters, $140.
H K Hotels, $7.20. Humphreys, $9.00. EL K. Realtles, $57. Peak Trams (old), $4. Peak Trams (new), 31.00. China Lights (new), $14.00. H. K. Electrics, $59). Sandakan Lights, $12.00. Telephones (old), $29.00, Cements. $15.30.
Dairy Farms, $25.00. S'hal Cottons (old), 8h.$117. S'hal Cottons (new), Sh. $92. Constructions (new), 45 cts.
SELLERS Hong Kong Banks, $1865. H. K. Trams, $15.00. Cements, $154.
SALES
Union Insurances, $620/6221. HE: Fire Insurances, $283. Providents (old), $2.00. China Lights (old), $14.40/.30. H. K. Electrics, $594. Cements, $15.40. Maramans (H.K.) 7/L
BUILDING STRIKE IN DUBLIN
Dubin, Apr. 18. A deadlock has occurred in the building strike here, due to the fact that employers have withdrawn their promise of an increase of a penny an hour.
The employers have called of negotiations, moreover, Insisting the strikers return to work before they are resumed - Reuter's Bulletin Service.
I
TREASURY RETURNS
London April 17. The total amount applied for in tenders for £40,000,000 of Treasury Bills was £83.350.000. The average rate per cent. For bills at three months was 10/8.64d against 10/ 10.27d' a week ago. British Wirelen.
THE WORLD DRIFTING The "Economist" raises the ques- tion as to whether the world is drifting 'to a state of gold infla-
Also up to date Safe Deposit Boxes in various sizes To Let.
Hong Kong, 12th April, 1937.
HONG KONG SAVINGS BANK
THE Business of the above Bank is conducted by the HONG KONG & SHANGHAI BANKING CORFORATION, Rules may be obtained on application.
For the Hoyo Kona & SrAÑⱭHA
BANKING CORPORATION.
V. M. GRAYBURN,
Chief Manager." Hong Kong, 1st March, 1937.
BANK OF EAST ASIA, LIMITED.
Authorised Capital ...$10,000,000.00 Paid-up Capital 5,598,600.00 Reserve and Undivided
Profita 2,770,726,76
ELLAD OFFICE:-HONG KONG
tion, and says, furthermore, that No. 10, Des Voeux Road, Central.
the problem of the mal-distribu- tion of monetary gold has become more insistent
The obvious remedy, the paper states, is for buyers either to re- refuse to buy duce the price or without limit.
World opinon is apparently not convinced either of the danger or
Board of Directors :-
.Bir Shouson Chow, Chairman, Li Koon Chun, Esq. Li Lan Sang, Eaq. P. K. Kwok, Esq. WongChnson, Esq. Wong Yun Tong, Esq. Kas Ying Po, Esq. Chan Ching Shek, Esq.
Kan Tong Po, Esq., Chief Mansor. LA Too Feng, Esq., Manager.
Arvy
Bombay
Branches and Agericies --
POSAGE Bostrabaya Rany GOD
ENLLOW Saigos Sydney
of the Imminence of gold inflation.
· EXCHANGE FUNDS While gold is hidden in exchange funds, concerted action against Bateria gold inflation is impracticable. The | pacatta paper considers it possible that the G
Haiphong central banks might be unable in- Hankow definitely to absorb the flood of new gold.
Meanwhile, the Journal advises cxpedients in case of need, auch as use of the bank rate in open market operations, reversal of the recent gold economy and, ulti mately, restoration of gold as s medium of circulation Reuter.
I.C.I. ANNUAL REPORT
London, April 18. The annual report of the Im-. perial Chemical Industries, cover- ing the vast concern's world-wide activities during the year 1938, states that export trade, on the whole, was good.
Hominiu Kabe.....
roueret Loaden
Manila Melbourne dan Fran also New York Seagle Osaka Parts Peiping
INboka Tiantkać n Tokyo
Semarang Shangha Bingspars
YADORUTSE Yokohama
in
Every description of Banking and Exchange business transacted. Loans granted on approved securities.
Current Accounta opened Local Currency and Fixed Do posits received for one yAGE OF shorter periods in Local and Foreign Currències on terms which
Safe Deposit Boxes To Lot
KAN TONG PO,
Chief Manager.
WINTER RELIEF IN GERMANY
HEAD OFFICE:
18, PIN STREET,
NEW YORK.
An American Bank offering com
plate Foreign Banking Bervice in the principal Markets of the world. Interest Rates on Application."
SAPĘ DEPOSIT BOXES
This Bank is entirely owned by
THE CHASE NATIONAL BANK, Niw YORK, with Besources over U.S. $2,027,000,000.00
D. M. BIGGAR,
•Manager.
THE YOKOHAMA SPECIEL BANK
LIMITED
Capital (fully paid up)
Yen 100,000,000 00 Reserve Fund. Yen 132,850,000.00
HEAD OFFICE:-YOKOHAMA
BRANCHES AND AGENCIES AT: Alexandria Honolulu Rangoon Bangkok Heinking Bio do Batavia Karachi
Berlin
Bombay
Calcutta Canton Dairen
Kobe'"
London
San
Janeiro
Francisco
Los Angeles Seattle Manila Semarang Moji Shanghai (Dalny) Nagasaki Singapore Fengtion Nagoya Suersbays
(Mukden) New York Bydney Hamburg Osaka Tientsin. Hankow Otaru
Tokyo Harbin Paris Tsingtao Hong Kong Peiping. *Ylokow
Interest allowed on Current Am counts,
W
Deposits received. for Fixed Periode at rates to be obtained on application,
Y. KANO,"
Manager.
Hong Kong, 10th March, 1937.
FORTY-HOUR WEEK ADVOCATED
Puris, April 16. What at first appears to be s capitulation of the Blum Govern ment in the 40-hour cönfict was. found in the "Journal Oficial,” | calling on al employees and em- ployers of the retail trade to agree among themselves upon a revision" of the decrea of March 31, con-. cerning the initiation of a 5-day. week" in the French retall trade.: In Government circles, however, Competition from Japan contin-
Berlin, April 16. it la most exophatically stated The German winter relief cam- that there is no intention whatsa...... ued on a large scale, it was point- out, but there were signs that the Palsn 1936-37 resulted in an in-ever of modifying the 40-hour-week vigorous resistance to this com- came of 398,500,000 marks, accord- decrée or of renouncing it in the petition, on the part of the British ing to a preliminary count sub- trades that have not yet adopted company, was having good effect, mitted to the Ministry or Pro- 18.
Conditions in China had impropaganda.
In the last fortnight, the
ved, partly in sympathy with ins Since some receipts are still out- National Economic Council con- general world recovery, partly be-standing, the final receipts are ex-armed the introduction of the 40- Case of the gradual development pected to exceed the 400 million hour week in a number of ad- of political unity in the country. mark. The collection brought ditional branches of economic life. Alkali sales and prices in the about 50 million marks more than On Tuesday next, during a Minis- Far East had been affected by the last year, and the rise in pros-terial Council, it is stated, the 40-- disturbed conditions The same perity is shown in the fact that hour week will be introduced to thing applies to nitrogenous fer the number of those cared for de- the gas, electricity, milling, por tutem, despite the arrangement creased to 10.700,000 as compared celain and pottery Industries, as between European, Japanese and with 12,000,000 in 1935-6 and well as the entire wholesale Chilean producers Reuter.
16,800,000 in 1833–47---- D
Transoccan News Service.
trade "Keuter's Bulletin Service,