12
DAILY SHARE QUOTATIONS Hong Kong Stock Exchange
zy d
Islas
MONDAY. MARCH 7.
BARKA
H.K. Banks
Do (London).
***
Sharebrokers'
Association
Baliers
Bayes
5a/pu Mamina
Do
Bank of East Asia...
N. O. & 8. Banka .... Insuranoom
Canton Insurances..
3847.K. Firos...
HONG KONG DAILY PRESS, TUESDAY, MARCH 8, 1938.
THE EXCHANGE
MARKET
MESSRS. ROZA BROS.
Silver prices rose 1/18 over the week-end for both deliveries, thei being 20 quotations
5/18 11,600 Ready and 20 for Forward. Silver
296
£14
for
TRADE CONDITIONS
REVIEWED
Decline In Commodity And Security Prices
The Immediate outlook has been advices reported. Speculators as The turn of the year is an ap- having bought to a small extent propriate occasion for reviewing obscured by the definite recession The market was steady. Ameri-the events of the twelve months 01 activity in the United States, can Silver was quoted at 44 3/4 which have just passed and for but while adequate reservations for the possible for Spot.
comparing the present altuation must be made The London-New
cross-with that ruling at the close "of consequences of any accentuation rate was quoted at 501.30. New 1936, states the Monthly Review of this development, fundamental York-London was quoted at 501 of Barclays Bank Ltd.
$1,595
£90
212
Uhartered Banks
£1
239
Mercantile Bks. "A"
£14
385
386
$2
$3778
8978
3643 $1.60
7555
Union InmarILD OGI
3650
:::
Underwriter
...............)
$1.00
1/4.
3945
Shipping
MARKET
*594
Dougla
$691
Quiet
Stentul s
#IL
151
Indo-Chinas (prof.)
351
143
Do.
(def.)
943
There
Wateronta
$9.30
$9.30
Malag
15/6
Kailans
Kauba
15/6 $7
17.40
$4
$133 $34
3.30/50
89/4 Shells...
Venezuak Gold Fi«t«.
1 ata. "Hongkong Mices.
Docks, Wharves,
Godowas, ets.
$133 Providents (olit! $3.40 Do. (new)
H.K. & K. WLAN
1.K. & W. Docks Shangusi Docks S.
13 New Engineerings S.
-Buildings
***
$34
York
STERLING were sellers
at
1/3
89/4 March-June and 1/2 31/32 July buyers at 1/3 1732 Cash-June and 1/3 August.
3.40/4/35.
81 40
43
$85
13
U.S. DOLLARS
Sellers at 31 3/8 March and 31 6/16 April-May, buyers at 31 7/16 Cash and 31 3/8 April-May.
SHANGHAI DOLLARS Sellers at 105 11/16. buyers probably at 105 13/16 for Spot.
SHANGHAI MARKET "There were sellers of Sterling at 1/2 7/32. buyers at 1/2 13/64 for Spot. U.S. Dollars. sellers at 29 11 18 buyers at .29 13/32 for Spot.
Lands, Hotels, and
$7,30
H.K. Hotels
$7,10
$35
H.K Laada....... $35
$100
Do. 4% Dobentures!
$100
Shanghai Lauda...
Metropolitan Lands..
$5.85
H.K. Realtles..
$8
IN THE AFTERNOON The market was afternoon.
$81
Humphreys 18.11
187
Chineas Extato........
STERLING
Cotton Mills
$164
::
i
$13 30 EwoS
$72
S'bos Cottons.......
Zoong Singa***** Wing On Textiles(S.) Ewo Cotton Rta. S
Pablle Ulikima
Tramways.......................... Pork Trams (old)...)
Va (new)... *31
H**
3:.70
Cements
Kopia
Miscellaneous
8154
At that time it was possible to look back upon over four years of sustained recovery in this country and to look forward with a certain degree of confidence to some mea-
as the United conditions, so far Kingdom is concerned, afford no grounds for fears of an early major deterioration of the economic situation.
SHIPPING AND SHIPBUILDING international revival of The
sure of further Improvement in trade has been reflected in. the ap- economic conditions,
Complete statistical data for the whole of 1937 are not yet available, but the figures so far published are sumcient to show that the hopes entertained at the beginning of the year were well founded.
25
BANKS
HONG KONG AND SHANGHAI THE CHARTERED BANK OF INDIA
BANKING CORPORATION
Authorised Capital
.........$50,000,000
Issued & Fully Paid-Up 820,000,000, Reserve Funds:-
Sterling
V
£6,500,000
B.K. Currency Reserve 810,000,000 | Reserve Liability of
Proprietors
AUSTRALIA AND CHINÁ Incorporated by Royal Charter, 1833
READ OFFICE: LONDON: 38, Bishopsgate E.C.2.
Paid-up Capital... -$20,000,000 | Reserve Fund.
Head Office:-HONG KONG
Board of Directora T. E. Pearce, Esq.,
Hon. Mr. J. J. Paterson,
Chairman.
Deputy Chairman,
J. K. Bousfield, Esq., A. H. Compton, Esq.,
Hon. Mr. S. H. Dodwell, Hon. Mr M. T. Johnson,
J. R. Masson, Esq.,
G. Miskin, Esq.,
K. 8. Morrison, Esq..
Reserve Liability of Pro- printöra.
£3.000.000 £3.000.000
£3.000.000
SAIGON
MANCHESTER BRANCH: 71, Mosley Street, Manchester.
AGENCIES AND BRANCHES:
ILOILO ALOR STAR
IPE KARACHI
KLANG ROBK KUALA
AMRITSAR BANGKOK BATAVIA BOMBAY
SEMARANG
BCHEMBANO
**NGHAL
SINGAPORZ
CALCUTTA
CANTON
LUMPUR
ΒΙΤΣΑΝ ΑΝ BOURABAYA
CAWNPORE RUCHING 4632 COLOMBO
DELHI
MADRAS
TIENTAIN
MANILA
TONGKAR
MEDAN
NEW YORK
(Bhuket) TSINGTAO
PRIPINO
YOKOHAMA
A. L. Shields, Esq., Sir Yandeleur M. Grayburn,
Chief Manager. HAIPHONG
Bangkok
Kobe
Branches:- Ipot. Johore
Penang Rangoon
Saigon
Kowloon Kuala
Яад
London
Lyons
Sourabaya
Malacca
Sungei
Manila
Patani
Muar
Swatow,
(Johor) Mukden Tokyo
Tientsin
New York Peiping
Tsingtao Yokohama
Current Accounts
opened
HAMBURG
HANKOW
KARHIN
TAIPING
HONG KONG
(Peking) ZAMBOANGA
PENANG
HANGOON
"
FOREIGN EXCHANGE and General Francisco Banking Business transacted. Lumpur Shanghai
Singapore
CURRENT ACCOUNTS opened and FIXED DEPOSIT received for One Year or shorter periods at, raten which will be quoted on applica-. tion.
The "Bank's Head Office in London undertakes Executor and Trustee business, and claims re- covery of British Income Tax overpaid, on terms which may be ascertained at any of the Agencies and Branches..
R. W. ROBERTS,
Manager.
preciable increase in merchant under corìstruction in tonnage
Ireland Britain and Great revealed by Lloyd's Register Ship- building Returns, while the quar terly figures of laid-up tonnage is-Amoy sued by the Chamber of Shipping Batavia have marked the virtual elimina-Bombay For example, according to the tion of the national problem of Calcutta Board of Trade Index of Produc-idle British shipping. The rise in Canton tion, output in the three months freight rates during the year to Chefoo ended June, 1937, both for manu-a level greatly in excess of the Colombo tacturing industries and for all average for 1929 has made it cer- Dairen
Foochow gropps combined, was the greatest tain that the Tramp Shipping
Haiphong recorded in any quarter up to that subsidy will not be payable for
Hamburg time. while, amongst the individual 1937 On the definite assumption. Hankow items, the figures for iron and postulated by the Government Harbin . steel. textiles, engineering and when the renewal of the subsidy Hangkem quiet in the shipbuilding, non-ferrous metals, for that year was announced in Iloilo
chemicals, olls, etc., and the fact November, 1936, that the industry output of food, drink and would be expected to make its tory tobacon reached fresh high levels. plans without the prospect of a Local Currency and Fixed Deposits In accordance with the usual subsidy after the end of 1937, al received for one year or shorter seasonal trend, the indices for the scheme of voluntary co-operation periods in Local and other Cur- September quarter showed a re-for the maintenance of freight rencies on terms which will be cession from these high figures, rates was prepared. The scheme. quoted on application.
Also up to date Safe Deposit but, while the decline was more which was duly approved by Bri- marked than has been the case tish tramp shipowners and had Boxes in various sizes To Let. Hong Kong. 26th Feb., 1938. recent years, the indices for the support of British liner owners, in
all the Industrial became effective on 1st January. practically groups were much above those for 1938. At a meeting on 17th De- the corresponding period twelve cember of the constituents of the Confer- months earlier, and in the case of International Shipping non-ferrous metals the index was ence, a resolution was unanimous- even higher than for the preced-ly adopted accepting the principle ing three months.
of continued international freight co-operation and approving the
The market closed with sellers 12 at 1/3 March-June and 1/2 31/32 July-August. buyers at 1/3 1/22 Cash-June and 1/3 August.
$70
#24
$32
U.S. DOLLARS
The market closed with sellers at 31 3/9 March and 31 5/16 April-May, buyers at 31 7/18 Cash and 31 3/8 May and probably April.
YESTERDAY'S
OFFICIAL
QUOTATIONS
An
$7
$831
Star Ferries 183
1263
Yaumati Ferries
$2
812)
Chins Lights (old).
812.45
19.15
Dur
(new)...) $8.16
Do. Ro...
3011 611
"H.K. Electrics ......
801
H.
3192
Macao do.
#14
Saudakuu Lights ...
Telephones föld)....
(27)
K. STOCK EXCHANGE
$10.30
Do. (now)...$10.40
29.6
23 6
Tractions
23/6
Do. (prof.).....
Industrials
3142
Cald, Macg. (Ord.)S)
815
Do. Pref.)S
$17.50
Canton Leen
$1.60
$1.00
8171
$17
301
$261
Dairy Farrow... .
3252
Ch. E'tainments......
37
(new)
$91
Lane Crawforda....
Nanyang Tobacco
$1.90
Sinceros................. --] 1.80
$0.80
18.00
Wat 2008.gunsten des
$6.00
S. C. Enterprises ....
67.
Cu.G. 521925G.@Bd
0,7%
HK, Gart. 42. Conor
Do. 31%
$103) $100
Wallace Harper
$39
HX Wing Ou...
40
S'bai Do
$13
301
Vibro Piling
$51
وار
(H.K.)
Win Powells
[70 cla
་་
Constructions, (old) 1
De.
17/8 Maracans liv. (Lon.)
*Sales to Shanghai
EXCHANGE RATES
March 3.
DECLINE IN PRICES
British scheme as a basis. OVERSEAS TRADE
in
THE CHASE BANK
10, QUEEN'S ROAD CENTRAL
HEAD OFFICE:
18, PINE STREST,
NEW YORK.
HONG KONG SAVINGS BANK An American Bank offering com-
The Business of the above Bank
is conducted by the HONG KONG SHANGHAI BANKING COR. PORATION. Rules may be ob tained on application.
For the Hoxo KONG & SHANGHAI
BANKING CORPORATION,
V. M. GRAYBURN,
Chief Manager. Hong Kong. 26th Feb. 1938.
BANK OF EAST ASIA, LIMITED.
plete Foreign Banking Service in the principal Märkata of the world.
Interest Rates on Application.
BAFE DEPOSIT BOXES
This Bank is entirely owned by THE CHASE NATIONAL BANE, NEW YORK, with Resources over U.S. $2,300,000,000.
D. M. BIGGAR,
Manager.
An indication of the value of these statistics as a guide to the The further economic progress progress made is afforded by the made in the United Kingdom dur- fact that the sections of industrying 1937 has again been largely covered represent over 70 per cent. founded upon a higher level of or the total manufacturing and domestic trading activity, but the mining activity of the United first eleven months of the year) The market continues firm with Kingdom and, apart from" build-have also been notable for a mark-" prices well-maintained. ening, about 90 per cent. of the total ed improvement in external busi- quiry for Underwriters found activity of the industrial groupsness. "As will be seen from the
BANK OF CHINA bare market, and a rise in the for which calculations are made. appended figures, however, the buying rate to $14 failed to attract For building, the proportion is greatly
Specially Chartered by failed to main-about 30 per cent. shares. Unlons
United Kingdom overseas trade. Authorised Capital ....810,000,000.00|
Paid-up Capital 5,508,600.00 THE NATIONAL GOVERNMENT tain their price and fell away to
The past year. however, has while being partly the result of a
Reserve and Undivided
OF CHINA AS AN $545 business. done.
Proats been by 110 rheans free from very considerable rise in British
2,776,728,76
INTERNATIONAL. EXCHANGE mainly due to a disturbing influences and the de- exports, was
Head Office:-HONG KONG cline in commodity and security heavy expansion in imports, with that 簇 much prices in recent months is agmp- the consequence tomatie of the element of un-larger adverse visible balance of trade has been certainty to which these influences merchandise have given rise.
BUYERS
H.K. Bank, $1595.
Union Insurance, $545.
China Underwriters, $12. Union Waterboats, $9.30. FI.K. & K. Wharves, $134. HK. & W. Docks, $341. Providents" (Old), $3t. Providents (New), $15. Raubs, $7.40,
H.K. Lands, $35. H.K. Realties. $5.85.
HK Tramways, $151. Peak Trams (Old), $7. Star Ferries, $831. Yaumati Yerries, $201. China Lights (Old), $12.40. 'China Lights (New), $8.15.
HK. Electrics. $611. Telephones (New); $10.30. Cements, $17.70..
LONDON
(British Wireless Service)
Paris
March 1
·153-23,32.
.
Geneva
21.601
150-31/32 21.61
Berlin
12.40
12.40
Athens
Milan
953
958
Copenhagen
Stockholm
Wm. Powell, Ltd., 60 cts. Constructions, $14.
Shanghal
New York
Amsterdam
Vienna
5.01-13/16
8.961
5.01-13/14 8.962
1427
142-11/16
Prague
Helsingfors
Lisbon
Hong Kong
Bombay
Montreal
5.017
Brussels
Yokohama
29.551
5.01-13/16 29.501
Closing Quotations
Bank Bills, on demand 311/16
Credits, 60 days' sight 311
Watsons, $6.80.
HX. Govt. 4% Loan. 32%.pm. ELK. Govt. 31% pm...14% pm, Wallace Harpers. $61.
SELLERS
Union Insurance, $555. H. & S. Hotels, $7.10. Sandakan Lights, $141. H.K. Ropes, $54.
Marsmans (HK) 8/- 4/9
SALES
Union Insurance, $545. Providents (Old), $3.50. Providents (New), $1. HK. Landa, 335-51. HK. Tramways, $155. Star Ferries, $834.
China Lights (Old), $12.50.
China Lights (New), $9.30..
EK. Electrics, $61
Cements, $17,90-18.
HK Ropes. $51.
Dairy Farms,: $25). Watsons, $6,90,
Belgrade
Monte Video
214
217
Bucharest
Rio
Silver (Forward)
191
197
Bilver (Spot)
20-1/16
War Lon
34% 103-3/16
20-3/18 31% 1021
March 7, 1839.
ON NEW YORK:-
"
ON LONDON:-
Telegraphic Transfer...) Bank Bills, on demand f Credits, 4 months' sight 1/3
1/2
ON BATAVIA! —-
On demand
50k
ON PARIS:-
Atoks, .26
9 2. 9. 2
ON SHANGRAI:----
Bank Billa, on demand 950
On demand
1041
Credits, 4 months' sight
Bagulo Gold. .23
1,010
ON SALOON: --
ON SINGAPORE:
On demand
On demand.
.521
ON MANILA:-
ON JAPAN:-
On demand
B},
On demand
1001
ON BANGKOK-
On demand
149
ON INDIA:-
Sovereign Notes
Telegraphie Transfer...)
Bank Buying Rate.............
1/21/10
Bank, on demand
905/14
BAB BITVER, per o
(Prices below in Phil Currency}
Antamoks Pa., 57
Benguet Consol., 9.80
Coco Grove, .56
Consol, Mines,' .011
Demonstrations, 88 IX.L.. 77.
Paracale Gumaus, 23 Ban Mauricio, 55 Suyoe Consol., 19
United Paracales, .44
PHILIPPINE
MINING NEWS
realised.
Increased
turnover o:
NEW AMERICAN BOND ISSUE
PHILIPPINE IRON MINES, Inc.. Refinancing Move To Replace
No. 10, Des Voeux Road, Central.
Board of Directors :---
Sir Shouson Chow, Chairman.
Li Koon Chun, Esq. Li Lan Faux, Esq,
BANK
PAID-UP CAPITAL...$40,000,000.00 (BRANCHES ALL OVER CHINA) Owing to our numerous Branchen
in China and connections in the
P. K. Kwok, Esq. WongChuSon, Esq. principal Commercial Centres of Wong YunTong, Esq. Kan Ying Pe. bag the World, we are able to extend Chan Ching Shok Fung Ping Wah,
to our Clients special facilities for Esq,
Domestic and Foreign Banking and Kan Tong Po._48q, Chief Manager.Exchange. Li The Fong, Esq., Manager.
{!
Branches and Agencies;~-~
Kawloon Penang
has declared a five per cent interi dividend on common shares of the corporation to stockholders of record as of February 26, according
March Maturities
Алак
Washington, Mar. 6.
Batavia Boubey
London SABXOOD
Manta Balgon
to a notice sent out by the com- pany.
1
Mr. Henry Morgenthau, Secre- tary of the United States Treasury, phong EASTERN DEVELOPMENT Com-today announced the terms Kabe
Calenda
Canton
Melbourne San Franc MARENES
Hankow
Now Yock Ducks
Hazǝiala
Parla
0%
pany, Inc., stock is now listed on the March refinancing operations. Every
the big board of the Manila Stock Exchange.
Faq
Surabaya Bwstow Bydney
Talhoku
eisoe Tintain Bencile Tokyo Semaran Vancoufes Shangha Yokohama Peiptas Bingapore
description of Banking
Head Office: SHANGHAI Hongkong Branch:
4, QUEEN'S ROAD, C.
South China Offices:
CANTON
SWATOW
SHIUOHOW
KONGMOON
TOISHAN
KINGCHOW
We also handle the issue of Bonds
He stated that the Treasury and Exchange business transacted and other Public Funds of the approved Chinese Government both at Home
securities.
The stock symbol is "ED," while was offering 101 year 24 per cent. Loans the agents are Messrs. Fleming and Treasury Bonds in exchange for Williamson, 4th floor, Soriano Buliding. Plaza Cervantes.
granted
Current Accounts opened in Local and Abroad. the U.8.$455,000,000 three per cent.Currency and Fixed Deposits re-
Eastern Development Company notes which were maturing onceived for one year or shorter periods in Local and Foreign Cur- rencies on terms which will be is the holding company of the March 15.
Safe Deposit Boxes To Let, KAN TONG 20,
Chief Manager.
Boriano mining companies, An- The offering would, be limited, quoted on application..
tamok Goldfelds Mining Company,
IXL Mining Company, and Masbate he said. Consolidated Mining Company. It
Calling attention to the longer)
also holds considerable interest in maturity of the issue, Mr. Morgen-
R.K.
SHOU J. CHEN
Manager.
THE YOKOHAMA SPECIE BANK
LIMITED
Capital (fully paid up)
Yen 100,000,000.00 Reserve Fund......Yen 134,400,000.00
North
Camarines Gold Mining
Con- thau said the conditions indicated Company and Mambulao solidated Mines, Inc., and in In-an improved Government ternational Engineering Corpora~ | market~(Reuter,) tion. The company is headed by Andres Soriano,
bond
SHAREBROKERS' ASSOCIATION
THRIFT
Speaking at the annual general wharves of the China Merchants' Berlin
Navigation Company, meeting of the York County Steam
Head Offles:--YOKOHAMA
BRANCHER AND 'AGENCIES ·AT: VALUE OF NATIONAL the removal of Japanese-owned Alexandria Honolulu Rangoon.
Bangkok Hainking Rio do or foreign-owned goods from the Batavia Karachi Janeiro
Kobe Ban London Franciscc Los Angeles Seattle, Manila Semarang Shanghai (Dalny) Nagranki Singapore Fengtien Nagoya Soerabaya (Mukden) New York: Bydney
* Tientsin Hamburg Osaka
Tokyo Hankow
Yinkow
Removal Of Goods From C.M.S.N. Wharves Permission will be granted for
蟲
Bombay
Harbin Paris Tsingtao Hong Kong Peking
Interest allowed on
Deposits received for
Current
Fixed
BUYERS Underwriters, $1.65. HK. Docks, #341.
China Lights (Old), $12.30. China Lights (New), $9.15. Telephones (New). C.D.. $101. Canton Ices, $1.50.
SELLERS Porvidenta (Old), $3.50.
SALES
7
H.K Fires, $2471.
Providents (Old), $5.50-55. HK: Docks, $342-1.
Y. Ferries, $21.0
China Lights (Old), $124. Electrics, 881
Telephones (New), C.D., $10ł.. Cements, $17.90-18-18,
Calcutta Savings Bank, of which he is pre-spokesman for the Japanese naval Canton sldent, at York recently, the Earl
of Harewood said that be thought authorities announced in Shang-
It was worth nothing that Trustee hai last week. Savings Banks, including the Post
Applications are to be handled
Dairea Moji
Omce had now no fewer than 13,000,000 depositors in the country by a committee représentative of with over £700,000,009 A3 the Japanese firms in Shanghai, and amount of their deposits,
the initial period during which Children, he said, used to be taught at a much earlier age than such movements will be allowed Accounts, they were now to make savings will extend from March. 1 to 31 Periods at rates to be obtained and start a banking' account, and inclusive. The Japanese naval au-on application.
it was suggested that it would be thorities will not be responsible
a very good thing if that Victorian for loss or damage of goods, the habit was revived.
spokesman stated..
Y. KANO,
Manager.
Hong Kong, 14th Feb., 1938.