#
THE CHINA-SIAM
*. "HIRAM”
"HELLAS
BONG KONG-BANGKOK
LINE.
leaving Hong Kong 20th June via Swatow leaving Hong Kong, 29th June via Swatow HONG "KONG-SWATOW—AMOY
Accapting Passengers & Cargo for all the above motioned ports. HONG KONG SINGAPORE—PENANG-RANGOON Regular Express Servico
m.s. "HAI LEE" leaving Hong Kong... 22nd June Accepting cargo for all the above mentioned ports.
Excellent passenger accommodation available,
For freight, passage ratsı" and all other information--Apply tà.
THORESEN & CO., LTD.
Queen's Building,
Tel. 30237.
General Agents.
S.S."BENLEDI"
Sailing for LONDON, ROTTERDAM, ANTWERP. HAMBURG and LEITH on or about the 9th July.
Cargo will also be accepted on through Bill of Lading to the usual transhipment ports.
Next Sailing for SHANGHAI & JAPAN
S.S. "BENCRUACHAN
18th June.
For Freight and Passage apply to :-
W. R. LOXLEY & CO., (CHINA) LTD., York Building. Agents:
Tel 22633
THE BEN LINE STEAMERS, LTD.
PHILIPPINE MINING
NEWS
Breaking all previous monthly production records for the current year. May's pour of P4.201.574.36 was the second largest in the his- Lory of gold mining in the Islands. At the present rate of production the total pour for 1937 will reach the P50,000,000 mark, observers be lieve. Total output for the first five months of 1937 amounts to P20,265,063.40 as against P18,409,- 458.88 for the same period during 1936. These figures do not include Tambis, Bued, United Mindanao Venture and many other small placer and lode properties that are producing at the present time.
Three new all-time high produc- tion records were established in May when Baguio Gold, Big Wedge and IXL reported pours of P100.- 628.98, P170,542.90 and P183.549.31 respectively.
May with average extraction run- ning P17.48.
Ipo Gold reported P49.231.07 for May, down P5,000 from April's out put and showed average extraction of P9:07 per ton. Itogon had a re- cord month when P292,439.05 was produced, up P46,000 from the pre- vious month. Extraction ran P16,- 35 per ton.
RECORD POUR- IXL reported P183,549.31 for May, a new all-time record and up P17.000 from the previous month. Extraction averaged P24.96 per ton. IX L-Argos reported P28,024.21 for May, down P1,000 from April while average extraction amounted to P7.07 per ton.
Masbate was off P3,000 from April's output when F248,796,36 was poured in May with average extraction of P5.41 per ton. It Itogon with a pour of p292,439.- continued to hold its premier post- 05: Balacot's production of P34,~tion as the Island's largest mili
130.28; and United Paracle's out- put of P139,997.67, all established new monthly highs for the current year.
year.
Wag
HONG KONG DAILY PRESS. FRIDAY, JUNE 18,
THE EXCHANGE
MARKET
MESSRS. ROZA BROS.
Silver prices were lower yester- day to the extent of 1/16 for For- ward, the quotations being 19 19/18 for both 'deliveries. Silver advices reported India as "having sold. China bought." The market was quiet. After the official axing the market was firm and business was done with India at 1/16 over the quoted rates. Amertean Silver was unchanged at 44 374 for Spot
The London-New York cross-rate was quoted at 493,80. New York- London was' quoted at 493.7/8.
MARKET
Quietly steady
STERLING
Nothing doing. There ware sell- cra at 1/2 25/32 for near and for- warc buyers at 1/2 13/16 for any delivery
1937.
NEW YORK STOCK EXCHANGE
Now York: June 17.
(Threurb Kanter's Service).
QUOTATIONS
New York/Londoti Crosa-rate New York Cocton-July Dec, New York Bubber-July Chicage Wheat
July Chicago Wheat-Sept. Chicago Corn
-July Silver-Official
1936/7
41
Lost Today's High Low Close Close Change
491 4977.
toff 12.00 1.83 11.88 11.63
104 up 12.07 11.90 119% 11.88 .04 up 19.80 18.98 19.30b 19.91 .01
1198 119- 111 1103 1111099 110 10 1141 111 114 119)
High Low Dow Jones Averages 19440 143.11 So Industrials
6146 40.56 30 Baile
Stocks
་་
June 15 16 Adams Express....... 152 Allis Chalmers
59 Amer, Can ****......... 902 U.S. DOLLARS
Am. Car & Foundry Business was done early in the
Amer. Cyanamid .... morning at 30 7/16 for June aud
Amer, & For. Power 30 3/8 November. Later offers at
Amer. & For. $7 pt 49 30 3/8 were accepted for October Amer. Locomotive ... 443 delivery. The market closed at i
Amer. Metals ..... 443 D.m. with sellers at 30 3/8 June-Amer. Radiator September and 30 5/18 Octo- bër-December, buyers at 30 7/16 Cash-September and 30 3/8 Octo- ber-December.
SHANGHAI DOLLARS Qulet. There were seliers at 102 1/4, buyers at 102, 5/16 for eash.
SHANGHAI MARKET There were sellers of Sterling at 1/2 29/64, buyers at 1/2 15/32 for Spot, U.S. Dollars, sellers at 29 3/4, buyers at 29 25/32 for Spot. The afternoon market closed steadier with sellers of Sterling at 1/2 15/32, buyers at 1/2 31/64. US Dollars, business was done at 29 25/32 for Spot.
IN THE AFTERNOON The market was steadier in the afternoon.
IN STERLING Some business was done at 1/2 13/10 for September followed by transactions at 1/2 for June. The market closed with sellers at 1/2 13/16 June-December, buyers at 1/2 27/32 for any delivery
U.S, DOLLARS Some business was done for early July at 30 7/18. The market closed with sellers at 30 7/16 June and 30 3/8 July-October buyers at 30 1/2 Cash-July and 30 7/16 August- October.
Trans
421
101
DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE Sailings
President Liners”, freqioens s«llings and their anique stepover privilages allow you to travel jum exaqjly sù you choose, And Dollar Sisamutip Elives and American Mall Line workwide ofices and agents are matzśained to serve you "sahare in whatever place you' chance to be. Make your ass zip more enjoyable, travelling. “The President Live way,"
4
TO SAN FRANCISCO
NEW TORK AND BOSTON
|
TO SKATTEK, VICTORIA *THE EXPRESS ROUTE"
Via Shanghai, Kobe and
Yokohasta
Vis-Shanghai, Kobe, Yokohama,
··Honolulu, San Francisco, Panama Canal and Havana. Pres. Hoover. Noon Jase 26th Pres. Jefferson M'aight June 18th || Pres. Cleveland M'night July 13th' Pres, McKinley M'night July 2nd Pres. Coolidgn Neon July 24th Pres. Grant M'night Joly 16th Pres. Laft.
M'night Aug. 10th Pres. Jackron M'night July 30th Pres. Hoover
Noon Aug. Pros. Jefferson M'night Aug. 13th Pres. Lincoln M'night Sept. 7th | Pros. "cKinley M'night Aug. 27th
EUROPE, NEW YORK
Colombo, Bombay, Buez Canal, Naples, Gence and Marseilles.
MANILA.
THE MOST FREQUENT SERVICE
Next Sailings
Pres. Hayes 4 p.m. June 20th Pres. Hoover. Pres. Monroe 8. July 4th Pres. Haye
6 8.m. July 18th Pres. McKinley
8am. Aug. 1st Pres. Monroe
p. Juns 18th
p.m. June 20th
6 pim. Jane 28th
Ba.m. July 4th
8am. Aug. 18th Pros. Cleveland M'night July 6th 8 km. Aug. 29th Pres. Grant B.to., July 10th
MOST FREQUENT" SERVICE ON THE PACIFIC
DOLLAR STEAMSHIP.LINES * AMERICAN MAIL LINE*
•
PADDER BUILDING-HONG KONG.
•
CANTON SHANCH —1), FRENCH CONCESSION, BEAMXÈN,
CHINA MUTUAL STEAM NAVIGATION CO., LTD.
CONSIGNEES per Co. Vesel
"LAOMEDON "
FROM NEW YORK VA MANILA
NOTICE TO CONSIGNEES
OCEAN STEAM SHIP CO "LTD.
CHINA MUTUAL STEAM NAVIGATION CO., LTD.
JONSIGNEES per Coa Vessoi
TITAN"
FROX GDYNIA A SINGAPORE are bereby notifed that their Cargo re hereby notified that their cargol be discharged Into Holt's will be discharged into Holt's Wharf Wharf, Kowloon, whare it will be at Kowloon, where it will lie Consignees Congress risk and subject to Terma risk and subject to terms and condi- and Conditions of Storage at Holt's tions of storage at Holt's Wharf The Wharf. The Carge will be ready for Cargo will be ready for delivery from Delivery from Godown on and after Godown on and after 17th June,
16th June.
2 off
unchanged
June 15. 187.40
£4.16
37.64 25.98 20 Utilities
26.13
June 16. Bigh Low Close 167,50 165.49 186.86 34.10 89.61 83.87 16.41 13.96 26.08
Change
10801 98.82 40 Bonds
101.19
8844 55.58 11 Commodity Indez 87.86
101,18 87.71
1.04. Off .81 off .17 off .01 off .17 off
Business Done:-700,000 sharon,
Last Bale
Last Sale
다
Stocks
June 15 18
161
Great Northern
ly. 511 501
58+
DII
Great Western Bugat 34) "341 Holly Sugar Corpn.
Via Manila, Singapore, Pegang) -
J
Humble On
311
31
Int. Nickel
75 761 561 561
62
61
Int. Tel. & Tel.....
102 104
50
Int. Dept Stores".
191 191
Pres. Adams
Kennecott Copper 63A 624
Pres. Harrison
441
Lambert Corpn.
110
114
Pres. Polk
19%
Loew's Inc.
Prer, Pierce "
777
781
Amer, Rolling MID.. 33 Amer. Smelting .... 85 Amer. Steel Faries. 531 Amer Sugar
33
Lorillard
201 201
831
McIntyre Porcupine
52)
McKesson & Robbins 44
43
401',
401
Monsanto Chemical 891 88
Amer. Tel. & Tel... 135 Amer, Tobacco "B" 76 Amer. Waterworks ... Anaconda Copper
165
Montgomery Ward.. 521
511
75)
14
161
Murray Corpn....... 103 10 Nat Cash Registor 322 32.
502
492.
Nat Dairy Products 21
21}
Atchison. T. & S. Fe
813
80+
Nat Distillers
...... 29
"201
Atlantic Refining... Atlas Corpa. Aubum Motors Baldwin Locomotive
217
271
Nat Power & Light
81
151
151
New York Central 401
391
201
141
Niagara Hudson P.
NOTICE TO CONSIGNEES
Cörpa.
107
30
$ cum. pl. ........ $8 Baltimore & Ohio... 274. Barnsdall Ou god Bendix Aviation Bethlehem Steel Boeing Airplane Borden Co.
90
North American
22
212
271
Northern Pacing
613
611
OCHAN STEAM SHIP 00„, LTD. AND
25+
25
Paciac Gas & Elec. 29
29
14
Pacific Lighting
413
41*
801
791
Packard Motors .. 81
8
291
281
Paramount
125*
123-
234
231
Briggs Mfacturing 417 40 Brooklyn-Manhattan
Pennsylvania RR કફ Phelps Dodge .......
371
217 101
Phillips Petroleum 537 Public Service of N.J. 37
531
31
Pullman Inc. *-****
681 88
Pure O .........
17
17
164
160 •
Radio Corpn of Am.
81
8
13
121
Republic Steel.................... 332
321
Reynolds Tobac, "g" 50
491
304 63
361
621 137
St. Joseph Lead Co. Schenley
Schenley 51% pt.
71 *
Sears Roebuck
3911 391 941* 93. *.ex 86
86
541
Shell Union Oll
272
27
100
Socony-Vacuum
184
181
101
Southern Cal, Edison
241
24
85..
Southern Pacific
48.
46"
581
Southern Bly 5% p
939
32
13+
Stand Brands
121
12
21
Stand 'Gas & Elec.
61
0
Stand Gas & Elec.
491
$7.pt........
391
39
321
15.
141
Continental On...... 43 421 Corn. Products
ED
59+
Curtiss Wright (C.) 51
51
Curtiss Weight "A" 171 Delaware & Hudson 161 Del Lackawanna &
Western Distillers Corpo Sea-
grams
........... 211 Douglas Aircraft ........ 562 Du Pont..., Electric Boat
171
15
Standard Oil of N.J. 634 Sterling Producta Swift International 30% Technicolor........... 201 Texas Gult Sulphur 348 Tidewater Assoc. Oli 161 Timken-Detroit Axle 19) Transamerica
631
641
851
*
30
251
17th June, 1937.
341
18 19
12
1281
128
20th Cent. Fox Films 342 20th Cent. For Filma
12 341
31
pt.
43.
43 *
56
Un, Carbide & Car-
..... 152
151
bon
97
961
FROM LEITH, MIDDLESBRO',
91
94
Un. Pacific
134
133
Elec. Bond & Share 141 Elec. Bond & Share
14
United Aircraft
242
241
STRAITS.
Un. Airline "TrEDE-
561
port
15
United Corpn.
681
681
United Corpn. $3
151
·cum vf. 344
331
Un. Gas proven't 111
11
65
Un. Light & power
32
47.
41.
U.S. Industriál Alco-
#
281 50% 50
281
387 361
501
482
bol U.S. Rubber * 57 US Rubber # p. 84 US Steel..................
32
321
553
43
'42
Vanadium
954 28
821 942 251
22
391* 39 400 304 78* 381 371
Brooklyn-Manhattari
$8 cum pi. Case, JI 'Canadian Fachic
Celanese Corpn. of
America Cerro de Pasco ...... Certain-Teed P'ducts 141 Chesapeake Corpn. 73 Chesapeake & Ohio 541 1011 Chrysler: Corpn. Columbia Gas & El 10) Columbia 6% "A" pr. 833* SHANGHAI DOLLARS
Commercial Credit 581 Sellers at 102 1/4. buyers at 102 Commercial Solvents 131 5/18 for cash.
Commonwealth & 8. 2 Commonwealth $6
cumi. «pl.
461. Consolidated Edison 32 Consolidated O
NEW PROFITS TAX
Terms Issued ̈ As White Paper
London, June, 18. The terms of the new Profits when 48,018 tons of ore were treat-
Tax to take the place of the Na- ed and milled during the month.
tional Defence Contribution pro- Salacot Increased production posed in P7,000 when P34,130.28 was report withdrawn, were issued to-night as the Budget and later Big Wedge increased productioned for May with average extraca White Paper and the necessary approximately P107,000 over that tion at P6.80 per ton. This was a ways and means of the resolution of the previous month and report- new monthly,record for Balacat will be moved by the Chancellor ed an average extraction figure, of for the current P54.49 per ton, a new extractio Mauricio produced P225,988.46 dur- at 5 per cent for companies and Ban of the Exchequer on Monday. Tar
high,"
ing May, up P12.000 from April's 4 per cent for businesses carried on Ten mines reported higher pro-pour. "Average extraction
by individuals will be charged on duction figures during the month P40.12 per ton."
profits arising in the 5 years period as compared with that of the pre- Suyoe's production dropped P14- from April last. vlous month, while seven showed 000 from April's output when the lower output for. May as against company reported a pour of P121, April. Total monthly production 759.82 for May. Average extraction
up approximately P200,000 was P19.48, per ton. United Para above that of April.
cale produced P138,997.67 in May. Antamok's production fell off up P19,000 from April's output. P35,000 when P440,158.41 was pro-Average extraction amounted to duced during May. Average ex-P16.87 per ton. These Agures in traction
ton.clude P536.94 milled and treated P19.75. per Baguio Gold reported P100,628.38, for Northern Mining and Develop- its best month to date and up apment Company. "proximately 27,000 from April's
Was
was
pour. Extraction, was P18.80.
BALATOC' LEADS
Balatoc upped production P22,000 when P1.095.444478 was extracted from P29.39 ore. Benguet Consoll- dated produced P817,981.70 during May, up P41,000 from the previous
COMMERCIAL
The
AVIATION IN
FAR EAST
Paris, June 16.
great French
commer
"
fessions or offices or employments. The tax will not apply to pro- Subject to the necessary adoption, the profits will be determined on the same lines na for the purposes of income tax Tax will not be chargeable, where prolts do not exceed £2,000. Where pronta ex- reed that gure but do not exceed £12,000 abatement will be allowed of 1/5 of the amount by which pro- Ats fall short of £12,000. Provi- sion will be made for remission of
ME
$5 pf...... ........ 581 Elec. Bond & Share
38 pf........ Mec Power & Light 15 Elec Power & Light
t7.pf.
631 Firestone Tire R 32 Flinthote Gen, Asphalt Gen. Cigar
Gen. Foods Gen. Blectric
Gen. Motors Gen. Railway Signa! Gillette Safety Razor 221
Gold Dust andden
Goodrich (BF) Goodrich $5 pt. Goodyear
I ex, dir.
·1%1%
Rin
Optional caro will not be landed here, unless notice has been given prior to steamer's arrival but carried on from port to port to the final fort of
the option extends All broken, chafed, and damaged Goods a to be left in the Godowns, where they will be examined on any Tuesdays and
Optional Cargo will not be inaded here ante Notice has been given prior to Steamer's arrival, but carried on from port to port to the final port of omil so which the option extends,
All broken, chafed and damaged Goods are to be left in the Godowns, where they will be examined on any Todays
10.45 r. and Noor within the Free Storage period.
Fridays between the hours of 10.16 and Fridays between the hours of and Noox within the Free Storage period. No Claims will be admitted after the Goods have left the Vessel's Godown, and all General Cargo remaining undelivered after 24th June, will be subject to Bent, All Claims against the Vessel maat be presented to the, Undersigned on o before the 8th July, 1937, or they will not be recognised,
Ne Fire Insurance will be affected.
- BUTTERFIELD & SWIRE
Agents.
t
CONSIGNEES' NOTICE.
THE BEN LINE STEAMERS, LTD.
ANTWERP LONDON AND
"THE SS. "BENCRUACHAN”
No Claims Will be admitted after the Goods have left the Steamer's Godowa, and all Goods remaining undelivered after the 22nd June, will be tobiyot to. Rent,
All Claims against the Steamer must be presented to the Underigued on or before the 6th July, or they will not be recognised.
No-Fire "Intrarance will be affected
BUTEXESTELD & SWIRE.
Agenta. 18th June, 1987.
15363
TO CONSIGNEES
NOTICE SH
OCEAN STEAM SHIP CO, LTD.
AND
CHINA MUTUAL STEAM NAVIGATION CO., LTD.
NONSIGNEES per Co.'s Vasec
"AUTOLYCUS"
Fox UNITED KINGDOM TIA SINGAPORE YONSIGNEES of Cargo are hereby are hereby notified that their Cargo
informed that all Goods are being will be discharged into landed at their risk into the hazardous Wharf, Kowloon, hore it will be and/or extra hazardous Godowns of at Consignees risk and subject to the Hong Kong and Kowloon Whart Terms and Conditions of Storage at and Godown Co., Ltd, whence and/or Holt's Wharf. The Cargo will be from the wharves Delivery may be ready for Delivery from Godown en obtained.
and after 15th June.
DON
No Claims will be admitted after the Optional Cargo will not be haded Goods have left the Godowna and all here, unless Notics has been given prior Gooda remaining undelivered after the to Vessel arrival, but carried o
From 23rd June, 1937, will be subject to port to port to the final port of call Warner Bros Pict123 121
reut.
to which the option extends, Westinghouse Elec. 138 1341 All Claims against the steamer mastAll broken, ahafed and damaged Goods Youngstown steet
be presented to the undersigned on or sre be left tha & Tube
78 M
before the 7th, July, or they will not will be exam in the Godowns, where they "on" any Tuesdays and be recognized.
Fridays between the Free Blorage period
the hours of 10.45 1.300. Chase National Bk. 40 *. 484*
To comply with the General Bonded and National City Bank 413 411 Warehouse Regulations, consignees No Claims will be admitted after br Call: Money
must have a Revenue Officer in atten- | Goods have left the Vessel's Godown. dance when damaged dutiable goods and all Goods remaining undivered are examined. ******
after the 22nd June, will be subject to All broken, chafed and damaged. Renton tax in whole or in part in cases 31, 1942, thus coinciding with the established in special depressed where they will be examined on the be presented to the Undersigned on or Goods Bre to be left in the Godowns All Claims against the Vol mpat where Commissioners for Special period for which borrowing is au- areas.
21st June, 1837 at 9 am. by Mesars before the 8th July or they will opt Areas certify that it is expedient,thorised under the recent Defence
Carmichael & Clarke, or car
Prbognised. for the purpose of establishing In-Loan Act.
No Fire Insurance has been effected. No The Insurance will be saincted. dustrial undertakings in those
Bills of Lading will be countersigned The new tax will apply to trades
BUTTERFIELD, & SWIBR
Agenti 16 including bolding companies, but
[5384 The Tax will be deducted in com- not to the professiona. puting profits of trade on bistness
: "SIMON'S SIMPLE TAX? The new tax met with a cordial reception in lobby circles, where it |
Simon's Tax but "Simon's Sim- pls Tax The members of all
month. Average heads ran P33.89 (cial flying service, Air France, areas, that relief from the tax and businesses of all descriptions, I has been nicknamed, not "Simple. R. LOXLEY & CO. (CHINA), LTD.
per ton, Benguet Exploration re- and Germany's equally famous ported P21,420.00 for May, no Lufthansa, have agreed upon the change from the previous month. terms of a convention for close Big Wedge upped production collaboration in the Far a P101,300 from April's pour when Bouth Atlantic and North Atlan P170,542.90 was reported. Average tic zones.
{
should be given.
4
[038h
KEEPING AVIATION
*=SECRETS »
Agents for purposes of income tax. No the case of companies, four per as a masterpiece of brevity and B
The rate will be ave per cent, in parties generally regard the tax Hong Kong, 16th June, 1987. calculation of capital will be neces- cent, in the case of firms or indi- lacidity, while the severe critics of sary for any purpose connected
vaduals. Public utility undertar-the original pronts tax are some with the tax, and it is estimatedings will be exempt. extraction was P54.49. per ton, ya The agreement is being kept a
what molded. new record. Cart Horr's output secret, insofar as its terms are that in a full year the tax may Assessment will be made along In a nutshell the new scheme was up P3,000 when P96,398.82 was concerned, though it will be sub- be expected to produce £25,000,000 similar lines to those in income amounts to a tax on business pro
-British Wireless produced in May with extraction mitted to the Governments of the
tax, profits below £2,000 being ex- fits not exceeding a shilling averaging P17.28 per ton. A two countries. It is believed that
empt, with a one-fth abatement the pound sterling, for a period Demonstration reported P131,-France has secured advantages,
allowed $22,000 and £12,000. The not exceeding five years 543.34 for May, down P21,000 from however, due to the fact that the The new pronts tax, which is | total yield from the tax for a full In order to emphasise its pri- the previous month. Extraction (Lufthansa, planes require permis | being substituted for the unpopu- year la estimated at £25,000,000. mary object the new tax will still was F18.44 Der ton East Min- sion to fly over French territory,lar National Defence Contribution Remission of the tax will be be known as the National Defence danao's output was down 22,000 Hanol will be the Far East base schemes, will operate for, five granted in necessary cases to en- | Contributio when P82,542.20 was reported for of operations. Reuter,
year, from April 1, 1937, to March... able Industrial undertakings to be| Reuter
DEFENCE LOAN ACT.
London, June 16.
18th June, 1987.
writers are annous to reinsure their risks at Lloyds and with other foreign insurance companies but are not permitted to do so by the Government The Government op position is due to fear of a leakage of military secrets,
The Tokyo Marine and Fire In- insurance Company and the three The Japanese press says
other companies which have re- underwriters will stipulate that cently secured the Government's the event of total loss air transpo, approval for the commencement of companies concerned should the aviation insurance business are one third. No cam to form a pool, stars the "Japan be paid against, Chronicia
dr dwelling houses, ta It is watated that these under- buildings by. MÍT
and other