YOKOHAMA
(Peking) ZAMBOANGA
PAGE 12-HONG KONG D'AILY PRESS
DAILY SHARE QUOTATIONS Hong Kong Stock Exchange
Buyers ellers Balos Nominal
$9.70
$3
ex.dit.
142
גון :
£28
$88
SATURDAY, JULY 30,
Banka
Sharebrokers' Association
Bank of East Asis....
$1,810 cum.d.] H.K. Banks
Do. (London)... Chartered Banks .... Mercantile Bka. “A”
£13 Marcantile Bha. "C"
N. C. & 8. Banks .....
Insurances
$210 Canton Insurance.
Using InsuranÇİN KOM Underwriters acarrera.
$810 H.K. Fires ...................
$600
$2
93/9 (Shell ..........
Ваунта Saler
cum.d.$1,510
lex.div. £99
EIT $29
£13) $88
$225
$487
$3
10
Shipping
380
Dongistos .....
$73
8214 Steambosta suome 180
3304
Indo-Chinas (Prof.)..........
#51
Indo-Chinas (Def.)....
1024
839
Waterboate
Mining
15/0
Kailans
Baubs
15/ $0.80
Venezuela Gold Fide.
Docks, Wharves, Godowns, ets.
13H.K. & K. Wherres...
17 cta, Hong Kong Mines........
$3.66 $3.85
#30
##
361/38
Providants (old).......................... $8.45 Providente (new)...................)
H.E. & W. Docks...
(naw}.......* Do
$115 Shanghai Docka 8..... 83.90 Now Engineerings B.
Lands, Hotels, and Buildings
$8.86 HK Hotels ................
H.E. Landa.....8. 137) Do. 4% Debentures
9.40) Bhanghai Lands 8. 30.95HLE. Boalties ................ #9.36 Humphreyi s
Chinese Estates .......... Cotton Mills o 5.)
***
$1294 $3.55
$3.45
191
130
$118
H
FOREIGN STATE
SUBSIDIES TO SHIPPING
British Ships Being Ousted
Speaking recently it Glasgow," st a conference on the development and defence of the Empire, which was attended by Ex-Ministers,
Colonial administrators and re- lirious leaders, Vice-Admiral E. A. Taylor, M.P.. sald Great Britain was losing her great position of being the sea-carriers of the world. One of the main factors against the British merchantile marine. Admiral Taylor said. was the granting by so many foreign coun- tries of direct and indirect state subsidies, both regards the maintenance and the building of ships. This created a totally un- fair competition.
45
As an example of British ships being ousted from the Empire trade, the speaker quoted the trade between Japan and India which. once almost entirely British, was now 13 percent Japanese. This had been brought about, he said. | by Japanese subsidies.
Admiral Taylor suggested that to counteract this state of afairs Government action should be taken once. Great Britain must be capable at all times of giving rea- sonable security to the trade routes, of dispatching and escort- ing military reinforcements to any part of the world. Command of the sea alone could give that
at
security.
FINANCE
NEW YORK STOCK EXCHANGE
(Through Reuter's Service)
Adams Express ....... Alleghany Steel Co. 19 Allis Chalmers......... Ame:. Can............... Amer. & For. Power Amer. & För. $7 pf. 201 Amer. Locomotive... 217 Amet. Metals........
Boeing Airplane Co. 281 Borg-Warner ........
304 Briggs M'facturing ... 39 Brooklyn-Manhattan
Trans.
QUOTATIONS
$5
July 31, 1938, * High Low Close Uhaug.
142,01 140.79 141.20 .05 up
TUESDAY, AUGUST 2, 1938.
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONG KONG
BANKS
HONG KONG AND SHANGHAI |THE CHARTERED'BANK OF INDIA
BANKING CORPORATION
Authorised Ospital ........$50,000,000 Issued & Fully Paid-Up $90,000,000 Reserve Funds:
Deputy Chairman.
Hon. Mr. S. H. Dodwell, M. T. Johnson, Esq..
D. C. Edmondston, Esq.,
Acting Chief Mannger.
Branches:-
AUSTRALIA AND CHINA incorporated by Royal Charter, 1853
HEAD OFFICE: LONDON: 38. Bishopsgate E.0.2. Paid-up Capital Reserve Fund Reserve Liability of Pro-
prietors
£3,000,000 .£3,000,000
£3,000,000
MANCHESTER BRANCH:
71, Mosley Street, Manchester.
AGENCIES AND BRANCHES:
BONG KONG PENANG ILOILO
ALOR STAR AMRITSAR BANGKOK
TPOI
BATAVIA KARACHI BOMBAT CALCUTTA
CANTON CAWNPORE CITU
COLÒMIO
DELHI HAIPHONG
KLANG
KOHE
. KUCHING MADRAS
MANILA
BANGOON
BAIGON
1830
High Low Dow Jones Averages
July so
14491 9895 50 Industrials
141.2#
31.77 19.00 20 Baile
48.44
22.55 13.14 90 Utilities
30.69
28.68 28.33 18.45 20.73 90,60 20.63
.0f up
99.70 83.39 40 Bonds
90.49
34.89–45.03 11 Commodity Index 15.68
90.37 .06 off uniquoted
Business Donc:-360,000 shares.
STOCKS
Lust Sale July 29 30 121
STOCKS
Last Sale
12
Great Western Sugar 281
July 29 30 28 *
183*
Greyhound
Corpn. 151
16
50%
504
Hecker Products
71
71.
++
981
981
Jat. Nickel
50
504
*
+4
Int. Tei.
Tel
DI
93
201
Kennecott Copper...
414
13
Libbey- Owens- Ford
Sterling
....£6,800,000
351
35 *
Glass
45
45+
Amer. Radiator ...... Amer. Rolling Mill Amer. Smelting
15)
..157
Lockheed Aircraft
14
141
201
204
Loew's Inc.
401 49.
H.K. Currency Reserve $10,000,000 Reserve Linbility of
Proprietors
.$20,000,000
49+
491
Martin, Glen L
2++
241
Amer. Sugar Ring... Amer. Tel & Tel. 1411 Amer. Tobacco "B" 88 Amer. Waterworks... 113 Anaconda Copper
35 Atchison, T. & a. re. 301 Auburn Motors...... Baltimore & Ohls... Barber & Co. Barnsdall Of ....... Bethlehem Steel.....
211*
271
McKesson & Rob-
Head Offee:-HONG KONG
142
bins, $3 pl. ....... 34+
343*
87$
Monsanto Chemical 89
891
111
Montgomery Ward ...
464
481
35
Nat. Dairy Products 16
.18
Board of Director. T. E. Pearce, Esq., Chairman. Hon Mr. J. J. Paterson,
361
Nat. Distillers
BULANTA
મર
25
44.
Nat. Power & Light
7
91
Nat Supply Corpn. 201
20
J. K. Bousfield, Esq.,- A. H. Compton, Esq.,
201
201
New York Central...
19
191
SKREMBAN
191
20
N. America Aviation 10
104
BHANGRAI
58
581
J. R. Mason, Esq.,
North America Co. 211
211
284
Northern Pacile ...
G. Miskin, Esq.,.
SINGAPORE
121
121
314
K. S. Marrison, Esq
Paciic Gas & Elec 261
KUALA
LUMPUE
SITIAWAN
BOUBABATA
261
Hon. Mr. A. L. Shields,
33
Pacife Lighting
10.
TAIPING
393*
TIENTSIN
Pickard Motors
54
51
TONGKAR
111 118
Paramount Pictures 101
101
MEDAN*
(Bhuket)
Brooklyn-Manhattan
$6 cum. pt.
********** $$ Case. JI ................... Canadian Pacie 99+ Chesapeake & Ohio 32 Chrysler Corpn. 693 Columbia Gas & EL 71' Columbia 8% "A" pf. 68. *
Pennsylvania R.R."... 21
211
331*
7
Phillipa Petroleum - 414
100
Public Service of N.J. Pure Ou
so
117.
42
30 121
Amoy
Ipoh
Bangkok
Jabora
Penang Rangoon
RAMBORG HANKOW BARBLY
NEW YORK PEIPING
TSINGTAO
Batavia
Kobe
32 -701
Radia Corps on B. 生 7
Bombay
Kowloon
Saigon San
Republic Steel
187
187
Calcutta
Kuala
A
71
Reynold Tobac. "B"
434
437
Canton
66 *
1 Schenley
20
201
Chefoo
481
Schenley, 5% pid... 75
75 *
Colombo
Commonwealth & 8. Commonwealth & 8.
14
11
Sears Roebuck.....
71
72
Shell Union 011.
171
171
384
Socony-Vacuum Oll
151
15
28
Southern Pacific
181
184
Hankow
101
101
Southern Riy $5 píd.
181
13
Harbin
45
441
Standard Brands ....
8
81
Hongkow
343
351
Stand Gas & Elec.
43
41
Iloilo
837
681
Standard Oil of NJ.
561
57
Curtiss Wright (C.) Curtiss Wright “A” 22; Distillers Corpn. Beá-
grams Douglas Aircraft Du Font
51
51
Stone & Webster....
101
104
Current
221
Swift Internationa:
28 *
28. *
Technicolor
251
251
161
16
Texas Gulf Sulphur 34%
35
..491
49+
20th Cent. Fox. Films" 247
25
126
1283
do. Films pt....
33
323*
11**
Union Carbide.
81
Carbon ...
83
Union Pacific.
831
831 82 *
51
United Aircraft .......
277
$1.80 $16.85
United Airlines Tram
91
HONG KONG SAVINGS BANE
342
574
564*
United Corpn......
3
3
Elec. Power & Light
The Business of the above Bank
United Corpn. $3
$7.10
1.
$6,50
$7 pl........
39
40
cum. pf.:
32
312
Flintkote
22
22
United Gas Corpa. 4
4
Gen, America Trans
494«
501
Un. Gas Pprovem't" 101⁄2 -*
101
#261
44
511
anniversary of the Scottish Indus-
68 New Factories Speaking on the occasion of the
Gen. Electric
418
401
U.S. Rubber
432
443
Gen. Motors
431
431
U.S. Rubber pf.
81
82
is conducted by the HONG KONG & SHANGHAI BANKING COR- FORATION. Rules may be ob tained on application.
For the HoNG KONG & SHANGHAI BANKING CORPORATION.
Gen Raliway Signal
22
217
U.S. Steel.
581
591
85
trial Estates at Hillington recentis,drich (B.F.) Sir Steven Blisland, chairman of
Glidden Co.
23+
23+
Vanadium
20
19A
221
222
Warner Bros. Pict....
61
BA
871%
STUD
150/
H.K. Wing Oa
H.K. Govt. 31% Loans
directors, stated that during the twelve months they had secured 68 Goodyear Tire & Co. 261
"Great Northern Iron individual firtus as tenants.
Goodrich $5 pt. 561
561
Westinghouse Elec. 1011
101
24
Woodward Iron Cor. 204
194
3101
300
S’hai Wag Do
$5.10 Vibre Piling
12/9 Marsmans Inv. (Lon.}
31.
Maramans Inv. (H.K.)
170 at Wm. Powells.
*Sales to Shanghai
LONDON EXCHANGE RATES
170 sta
He pointed out that the estates provided a new factory, with all Great Northern Rly. 221 services laid on and available on a lease basis in which work could be started without any capital expen- diture except for plant.
Ore
14
13+
221
Chase National Br. National City Bank Call Money
L
1 ex. div.
32* 324• 28 * /261* 1% 1%
• bid.
Tramways
Peak Trams (old)
$6.95 $3.80
#107
$6,86 19.30
$16,8)
#164 -487
8'hai Cottons (8.) ............
$87
$245
|Zoong Sings (8.) .......
$42
Wing On Tartiles (8.)
$42
Public Utilities
$17.45
$17,45 $17.60
$61
·8)
loak Trams (new).
ឆរ
$80
Star Ferrins peso que
$781
Y'mati Ferries C.R.$
$26.05
Do.
(new)
#21.80
China Lights (old)......
$11
38
|Chins Lights (new).............)
H.K. Electries .............................
$60
$18
Macao Electrics.........
*9*
526
Telephonsa (old)..
$97
$9.80 Telephones (Dew)................ 2013
$8.80
Tractions ........................
24/6
28/3 Trictions (pref.) .................
Industrials
$14 Cald, Macg. (Prof.) B.
$24 $15.90
A
$601
34
$7.10 $7.30
$6.90
Bendakari Lighta
#
$7.35
Cald, Macg. (Ord.)8.
$1.70 Centon lees.........
$16.70 Cemente
Rapes
Consolidated
Chins Prov. (old)...
$5 90 Chine Prov, (new).....
Miscellaneou
328 Dairy Farm
$8 Ch. Etainmenta ........ 86.65
Constructions (old)..............
| Constructions (new)....
$8.70 Lane Crawfords.
11
Nanyang Tobacco .........
$2.20 Sinceres
Watsoca
67% Ch. G.5% 1925€.#Bd.
61pm. H.K. Govt, 4% Loans
LINER MODERNISED Commercial Credit.. 484
Following the reconstruction and re-engining of the Union-Cas- tle steam Hners, Arundel Castle 8% cum pí. .................... 39 and Windsor Castle, to conform to Consolidated Edison 23 the accelerated weekly mail service Consolidated Oil between Southampton and Cape Continental Can Town, the Carnarvon Castle, first Continental Oil of the three large motor liners of Corn. Products the same fleet, has just completed an extensive reft. This included the installation of new engines,
Apart from her machinery, the Carnarvon Castle has been modernised throughout. Her length overall is now 686. 3in, with a beam of 731t) and she has a gross tonnage of 20.122. compared with her former 20,063. tobs.
SCOTTISH ESTATES
SUCCESS
Eagle Ficher Load 11} Elec. Bond & Share $1 Elec. Bond & Share
$5 ........51 Elec. Bond & Share
$6 pf......
18
Malacca. Manila
Parts
.
H
The tenant could apply to the Special Areas Reconstruction Assu- ciation for a loan for plant, if re- quired, and to the Special Areas Commission for remission of rent and taxes: Two-thirds of their tenants had come without any such inducement.
FRENCH PETROL PIPE LINE
Paris, August 1. A petrol line, 450 kilometres long, from the Atlantic Ocean to the middle
CONFIDENCE IN FUTURE
LORD HIRST REVIEWS G.E.C.
PROGRESS IN 50 YEARS
Optimism was the keynote of Lord. Hirst's speech at the an- nual general meeting of the General Electric Co., Ltd, of England. Which, incidentally, has now entered upon its 50th year. He was able to refer to a further increase in output, furnover and profit for the past year and expressed particular pride in the advance ́ín ex- port business, which had beaten the previous peak figure by nearly
£500,000..
·..་ 4*
(British Wireless Service)
July 28
176-9/04
July 30 178-11/34
Gėrieva
21.491
21.451
Berlin
12.241
12.23
Athens
Milan
931
931
Copenhagen
Stockholm
Shanghai
91
New York
4.917
Amsterdam
8.936
4.91-11/18 3.951
Vienna
1411
1421.
2251
€70
1/2 31/32
1/5 29/32
4.931
4.937
29.084
29.09
NEW RA.
.At a ..general assembly of Academicians - and ̈ Associates of
the
Prague
Helsingfors
Bucharest
Hong Kong
Bombay, uses lai
Montreal........................
Brussels
Yokohama
Sellers Buenos Aires
Monte Video
Silver (Forward)
Silver' (Spot) War. Loan
UN LONDON:-
Closing
July 30, 1938.
Telegraphic Transfer..... 11/91 Bank Bills, on demand / Credita, 4 month' aight 1/8)
OF SHANGHAI:
On demand
ON SINGAPOES:--
On demand
On demand
EF” India :-
Bank, co demand
160 pom
106)
Telegraphie Transder4|18|
10/16
18.94.
204.
2-27/32
19-3/16
19-5/16 31% 1021.
Quotations
OF NEW YORK :-
191.
"198
Bank Billa, on demand 33-7/18 Greifta, ed days' sigha 3115/18° ON BATAVIA:
56
Oh demand... ON PARIN
Bafik Bille, on demand. 1,095 ́ Credits, 4 months' right... 1,180 ON SALDOR:-
- On demand
ON MANILA
On defatid
ON BANGIOX-
On demand
Sovereign Notes
Bank Baying Rate...... Bay Silver, DEZ OS
100
recession in
PRINTING.
"I am still an optimist as re- of France, will be built gards the immediate future," said COPPER-PLATE ART, shortly, states the Figaro. The Lord Hirst. "Any building of this pipe line will be activity, in my opinion, is due part of the extraordinary pro more to psychological effects than gramme of national defence.- (Transocean).'
the Royal Academy recently, Mr Walter Thomas Monnington, AR.
Dairen Foochow
Francisco
Lumpur Shanghai. London Singapore
Lyons Sourabaya
Sungei
Patani Haiphong Muar .Swatpw Hamburg (Johore) Tientsin
Mukden Tokyo New York Tsingtao Peiping Yokohama
Accounts opened in Local Currency and Fixed Deposits received for one year or shorter periods in Local and other Car- rencies on terms which will be
quoted on application.
Also up to date Safe Deposit) Boxes in various sizes To Let.
Hong Kong, 2nd May, 1938.
D. C. Edmondston,
Acting Chief Manager, Hong Kong 2nd May, 1938.
BANK OF EAST ASIA, LIMITED.
Authorised Capital $10,000,000.00 Paid-up Capital.......... 5,599,600.00 Reserve and Undivided
Profita
2,778,796.76
Head Office:-HONG KONG No. 10, Des Voeux Road, Central.
Board of Directora:—
Sir Shouson Chow, Chairman Li Roon Chain, Esq. Li Lan Sang, Esq. P. K. Kwok, Esq. Wong ChuSon,Euq. Wong Yun Tong, Esq. Kan Ying Pa, Esq. ChanChingShek, Esq. FungPingWah, Esq.
Kan Tong Po, Eng, Chief Manager. Li Tie Fong, Esq., Manager.
Branches and Agencies****
Kowloon Pecan Boralys
Amoy
Batavia
Boney Calouste
Balpheny
New York Hankow Hospiala Part Kobe
Paiping
London Bangoon Bwałow Xanita Balgon
Sydney Melbourne San Fran. Talboku ala Tintain Seattle Takvo Semaring TanÖJEVAT Shanghal Tokubama Singapore
47 was elected a ̈Royal Academier, and I believe that can be Print Academy in Old Bond-street.
sald of the country as a whole; W recently, a craftsman said:
"There are scarcely a dozen men 1997 was an exceptional. one for
The craft of hand printing oil- to economic setbacks. We may colour pictures and etchings from: not quite reach the achievement copper-plate engravings is in dan- Every description of Banking of 1937, which was in exceptional ger of dying out, after having been and Exchange business transacted. granted on approved year, but I am informed by my used in England for several hund-Loans
Becurities. own industry and by many other red years without any appreciable
Current Accounts opened in Local Industries that, if you were to difference in the methods of work. Currency and Fixed Deposits re
At an exhibition of pictures and
ceived for one year or shorter compare with the last normal year
periods in Loent and Foreign Cur- 1936 we are ahead over that engraving and printing at
rencies on terms which will be quoted or application.
Safe Deposit Boxes To Let.
KAN TONG PO,
Chief Manager.
clan.
an artist's engraving and print it Seventy years ago the craft was at Its peak."
Mr. Monnington, and was born the country, particularly for the in all England now who can colour in 1893, painted the presentation electrical industry." portrait of Euri Baldwin ip hiá robes as Chancellor of Cambridge University, which was presented in 1933 to Trinity College, Cambridge.
Ninapo, Wenchiow and Haimen, have been designated by the Che
NO EXCUSE FOR PESSIMISM
·KING HONOURS A PORTER
FOREIGN EXCHANGE and General Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED Deposits received for Ons Year or shorter periods st rates which will he quoted on application. The Bank's Head Office in London undertakes Executor and Trustee business, add claima_re covery of British Income Tax overpaid, on terms which may be ascertained at any of the Agencies and Branches.
D. J. GILMORE,
Acting Manager.
THE CHASE BANK
15, QUEEN'S ROAD CENTRAL
HEAD OFFICE:
18, PINE STREET,
NEW YORK.
An American Bank offering com- plate Foreign Banking Service in the principal Markets of the world.
Interest Rates on Application.
SAFE DEPOSIT BOXES
This Bank is entirely owned by THE CHASE NATIONAL BANE, New Yoz, with Resources over US $2,500,000,000.
D. M. BIGGAR,
Manager.
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL· EXCHANGE
BANK PAID-UP CAPITAL $40,000,000.00 (BRANCHES ALL OVER CHINA) Owing to our numerous Branches- in China and connections in the principal Commercial Centres of the World, we are able to extend to our Clients special facilities for Domestic and Foreign Banking and Exchange.
Head Office: SHANGHAI Hongkong Branch:
4, QUEEN'S ROAD, C. South China Officis:
KONGMOON TOISHAN
CANTON SWATOW BHIUCHOW KINGOHOW
We also handle the issue of Eonds and other Public Funds of the Chinese Government both st Home and Abroad.
SHOUJ, CHEN,
Manager.
FRENCH CREDIT TO BULGARIA
Some very old prints are in the He added that he saw no excuse exhibition, there being a collection for pessimism and, in the hope of 13 "Cries of London" stipple en- that no International complica-gravings in colour, priced at £4,000.
Bothe, Äärast L tions might arise, and that Amer-Then there are three in a set, at ca.might soon recover her econo- the same price. These are afterward Silver Medal to Harold pected to arrive here today to con- The King has awarded the Ed- A group of French beukens is ex- klang provincial authorities BX mic equilibrium, he was even Francis Wheatley, B. A
Gleave, 28, a railway porter, for fer with the Bulgarian Government gallantry at Bank: Quay Station, concerning the Itant to Bulgaria Warrington...
of commercial credits, amounting Gleave jumped from the piat-to 300 million francs, state well-
circles form to the malls and saved the life informed
here (Trans
hopeful that they were steering towards better times than ever.
the three ports from which ex- ports can be shipped out. The Ningpo Chamber of Commerce
The Central Bank of China. with 2
view to augmenting To mark the Jubilee year the the Bank of China, the Farmers the volume of "native" products company has endowed a fund of Bank of China and the Bank of exported, such as straw hats, £10,000 at the University of Bir- Communications are considering bamboo shoots, cotton and aquatic mingham for two G.E.C. scholar. the acceptance of mortgage loana, products, has organized a number ships. It is th the Milanda, of but wil limit such to Chinese fac of import and export companies. course, that the majority of the tories or Chinese firma engaged concern's 40,000 workers are em- in "native" goods, the Sin Wen 1/2-1/18 and has requested the local au
Pao reports. thorities to give them all facilities.ployed. 201
of Mr, M.J. Gaughan, an American, ocean), who fell in the path of a train.
The train was only 20 yards MangaA away when Gleave awung Ganghận struck by the train and injured, he' betwen the rails and jumped our helped to extricate Gaughan, who of the way of the engine. Although was also hurt.