PAGE 12-HONGKONG DAILY PRESS
BANKS
HONGKONG AND
SHANGHAI BANKING
CORPORATION
Issued & Fully Paid-Up $20,000,000
Authorised Capital
$60,000,000
Reserve Funds:
Sterling
THE CHARTERED
BANK OF INDIA, AUSTRALIA & CHINA
(neurpurated by Royal Charter, 1856
8,800,000
**
H.K. Currency Reserve $10,000,000 Reserve Liability of
Proprietors
HEAD OFFICE: LONDON: 38, Bishopsgate E.C.2.
Head Office:-HONG KONG
..$20,000,000 | Pald-up Capital ......
Reserve Fund Reserve Liability of Pro-
prietors..
£3,000,000
£3,000,000
£3,000,000
Board of Directors.
T. E. Pearce, E., Chairman.
Hon. Mr. J. J. Paterson,..
Depety Chirpais,
MANCHESTER BRANCH: 11. Mosley Street, Manchester.
AGENCIES AND BRANCHES:
HONG KONG PINANG
BANGOON ILOILO
MALOON
J. K. Bousfield, Esq...
A. E. Compton, Esq.,
Hon. Mr. S. II. Dodwell.
ALOK STAR
AMRITSAR
パ
BANGKOK
IPOE
BATAVIA
Hon. Mr. A. L. Shields,
DOMBAY
W. H. Lock, Esq..
G. Miskin, Esq.
K. S. Morrison, Esq.,"
H.. Wilkinson, Esq..
Sir Vandeleur M. Graybarn,
Chief Innager.AWNPORK
CALCUTTA CANTON
CKBD
Branches-
Amoy
Ipoh
Penang
Bangkuk
Johore
Rangoon
Batavia
Kobe
Saigon
Bombay
Kowloon San
COLOMBO DELHI HAIPHONG HAMBURO HANKOW HARMIN
Calcutta
Kuala
London
Franciscu Canton Lumpur Shanghai
Chefoo
Singapore Sourabaya Dairea Malacca Sungei Manila
Colombo Lyons
Foochow
KARACHI
KLANG
'KOBE
KUALA
LUMPUR
SEREMBAN
BANGELI
SINGAPORE
SITIAWAN
EQURABAYA
TAIPING
TIENTSIN
ТОМСКАЯ
(Bhuket)
TSINGTAO 1OKOHAMA
KUCHING MADRAS MANILA MEDAN NEW YORK PKIPING
(Peking). FOREIGN EXCHANOL and General Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods at rates which will be quoted on application. The Bank's Head Ooo in London undertakes Executor and Trustee business, and claims re- Income Tax covery of British overpaid, on terms which may be ascertained at any of the Agencies opened Current Accounts Local Currency and Fixed Deposits and Brauches.
R.. A. CAMIDGE, received for one year or shorter periods in Local and other Cur- rencies on terms which will be quoted on application.
Patani Swatcw Baiphong Muar Hamburg (Johore) Tientsin Hankow Mukden Tokyc Harbin New York Tsingtao
Yokohama Peiping
Hongkew Iloilo.
4:
in
1150 up to date-Safe Deposit Boxes in various sizes To Let.
Hong Kong. 7th October, 1938.
HONGKONG SAVINGS
BANK
The Business of the above Bask
is conducted by the HONG KONG
Finance and
Commerce
WORLD FACES RECORD P. I. IMPROVING
WHEAT CROP
Excess Of Grain May
Cause Price War
is estimated at 4,200,000,000
The world wheat crop th's year
to sell 1,800,000,000 bushels bushels, and exporting nations hope abroad. But importing countries, on past showing, will bay possibly only 500,000,000 bushels, With thissurplus in the world market, there may be some lowering in prices, which will undoubtedly lead to an international price war.
JAPAN CALLS IN COPPER
Tokyo,
LIVESTOCK
New Breeding Station
A forward step in the Fhi- Hppine
Government's pro
Framme
of improving Increasing Philippine
t
and
live-
stock was made recently when the Farawir breeding station WS.. formally Balacan established with Assembly- Gre- man Camilo Osiss, Dr. gorio San Agustin, director of the Bureau of Animal In- Fran- dustry, and Governor cisco Nisce jointly laying the cornerstone.
Dr. San Agustin, who was
FRIDAY, OCTOBER 28, 1938.
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONG KONG
COMMODITY MARKET REVIEW
SPOT
JAN.-MARCH
APRIL JUNE .....
(FROM PAYNE & CO.)
SINGAPORE KURBER
Oct. 35
buyers
sellers
28-1/2 280-3/4
Oct. 26 buyers sellers 28-1/2 28-3/4 -29-1/8 29-3/8 29 29-1/4
29-3/8 29-5/8. 29-1/4 29-1/2 of 1/8
Change
unch.
of *1/8
The market opened with prices unchanged for all deliveries as compared with Tuesday's closing quotations.
4
quiet During the morning session very
conditions prevailed. thus responding to the lack of activity displayed by the New York Rubber Exchange.
Provisional figures for this year's wheat crop in the United States forecast the heaviest crop in years sowing despite the reduction of acreage. The harvest will exceed by about 25 per cent. the average ten wheat harvest for the last
one Oct. 27
It is estimated that the i years in circula-wheat harvest will go beyond the of the guest speakers at the pro- gramme pointed out that the time" Copper coins now
Only moderate enquiry for "actuals" was in evidence, whilst activi tion in Japan are to be withdrawn 940,000,000 bushel mark.
aluminium The United States wants to ex- had come for the people to give replaced by
During the afternoon the market tarned slightly steadier on and
decree port 100.000 000 bushels this year more attention to animal indus-ties by dealers and speculators were at a very low ebb.
He revealed that La Union
some trade buying. which, coming on a narrow market, caused prices coins, as required by the
animal Just issued by the Finance Minia- under an export subsidy. Canada: try.
to advance by 1/8 cent for all deliveries. also under a subsidy scheme. hopes had among the lowest
The population in the Islands, there measure is being taken to export 250.000.000 bushels.
oficial to conserve the Japanese copper two countries have not found it being in the province only 18 034 supply.
quar-pissible to co-operate in an export head of cattle of the 2.534.786 in learned that about scheme, and the US. Department the entire Philippines.
stopped Other Agures on La Union ani- ter, it is 10.000 tons of copper will be re or Agriculture recently
35 495 were there province covered by melting down the cop issuing dally reports of wheat ex- mal population show that in this horses, 23,924 per colns thus called in-Trans-port transactions.
carabaos, 8,427 ocean.
goats. 3,260 sheep, 890 ducks, 170
43.670 swine turkeys, 418 chickens.
try
This
From an
GERMAN-RUMANIAN
TRADE TALKS
Bucharest, Oct. 27
dele-
4
LOWER U. S. PRICES?
2
are
war
SERVES THE
and 412.
NORTH
This ban, it is thought in some quarters, would indicate that the United States may be considering to offer wheat at somewhat lower other prices, though there
The breeding station will serve A German delegation will
forces to be taken into account. La Union and other provinces in
price Involvement in
alone station Manager.rive here on Monday next to con-
the north. The duct negotiations for a German-would react unfavourably on Mr.
The 20 hec- costs Pesos 2,500 Rumanian trade and clearing Cordell Hull's efforts to lower in-
tares of land for the station were The German
Almeida ternational trade barriers through donated by the rich agreement. gation will be headed by Dreciprocal pacts.” On the other)
family, "Cost of maintenance will Clodius, of the Trade Depart hand. Mr. Wallace, Secretary of
be borne jointly by the provincial ment of the Foreign Office. The Agriculture, is not greatly in fa-
and insular government. negotiations will. Among other vour of an export subsidy. One things, fix a new quota for the ex-way or the other, the difference port of Rumanian petrol and grain between an abnormal granary and to Germany.-Transocean.
mited absorption must be settled. TRADE NEGOTIATIONS" IN FINAL STAGE
THE CHASE BANK
15, QUEEN'S ROAD CENTRAL
& SHANGHAI BANKING COR- Au PORATION. Rules may be ob- tained on application.
For the HONG KOND & SHANGHAI BANKING CORPORATION.
V. M. Grayburn,
Chief Manager:
Hong Kong, 7th October, 1938. BANK OF EAST ASIA. LIMITED.
Authorised Capital $10 000,000.00 Paid-up Capital "....... Reserve and Undivided
Profits
5,508,800.00
11
2,176,726.76
Head Office:-HONG KONG No. 10, Des Voeux Road, Central.
Board of Direstart:
Bir Shouro Chow, Chairman Li Koon Chun, Eag. Li Lan Sang, Esq. P. K. Kwok, Raq"_ WongChuson, Raq: Wong Yun Tong, Beq. Han Ying Po, Kay. ChanChingBhek, Req., FangPingWah Esq.
Kan Tong Po, Esq., Chief Manager.
Tee Fong, Esq., Manager.
Brancher and Agingins :----
Kowlook Persar Bourabaya
Pangoon
Raigon Melbourns San Frati-
London Manila
Axof
ISELLAPTO Bombay
Destin
Canton
NEREA
Halphonc
New York
Oreka
Hanker Honolul
Bahr
Bwk.com Bydney Tuhoka si Tintain Bentle Tokyo Bemarang Vancouver
ShanghaTokohane
Slagspor Polping
Every description
Ranking
HEAD OFFICE:
18, PINE STREET,
NEW YORK.
American Bank offering.com plete Foreign Banking Servic
the principal Markets of the world. Interest Rates on. Application.
SAFE DEPOSIT BOXES
FARMING AREAS
1
FOR FISHERMEN
In order to give relief to coastal fishermen who have been rendered unemployed by frequent Inter- ference of Japanese men-of-war, the authorities of Hainan Island
This Bank is entirely owned by have appropriated farming areas
THE CHASE NATIONAL BANK,
to accommodate them.
the areas It is learned that New Yox, with Resources over C.S. $2,500,000,000..."
are situated in the three districts
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
Area in Paisha
sures
over
Production on Estates of over 100 acres Production on Estates of less than 100 acres
Towards the close of the session, however, the market again Malayan Rubber Statistics were released as follows: relapsed into dullness.
Total Dealers' Stocks in Malaya Malayan Estates' Stocks
44,827
51.176 tons'
33,845
33,509
18,653
18,651
6,978
8,203
LONDON RUBBER
Previous close To-day's close
SPOT... JAN.-MARCH
buyers
8-3/8
APRIL-JUNE
8-1/2 ... 8-9/16
8-1-2 8-5/8- 8-1/2 5-9/16
sellers sellers buyern 8-7/16 8-5/16 8-3/8 8-9/16 3-3/8
Change
of 1/16 of 1/8 off 1/16
'Market dull.
#
NEW YORK COTTON
The market-to-day-was- Inactive and prices moved within ex- tremely narrow limits. Hedge selling and liquidation was absorbed by Trade and dealer buying, but most operators remained on the side-lines and there was no feature of importance.
16
NEW YORK RUBBER
London and
All animals to be used in the station will be supplied by the of Animal Industry. Bureau among which will be an Arabian
Prices opened downward on lower advices from buffaloes from India cattle, swide, goats and other animals import-Singapore, but steadied early in the session on good absorption of offerings by factorles and commission-houses and then later advan- ed from other countries.
interests, who negotiated The breeding station will be ced on enquiry by dealers and foreign one of the many to be establish- some purchases towards the close.
Another ed in the Philippines. station is being started in Ban- stil another as the gued, Abra, while
will be established in Tarlac, Agreement
big breeding station is also con- templated in Pangasinan.
New York, Oct 27. The trade negotiations be tween the United States and Canada "have been completed. and treaty will be ready for algnature
Anglo American
has been reached. according to an Ottawa telegram.
It is bebeved that the latest
A
CHICAGO WHEAT
Weakness on the markets abroad and evidence that foreign im- porters are at present well supplied brought out easiness and 1- excellent Argentine crop quidation. Further bearish factors were prospects, dearth of outside participation, the slowness of four de- bullish factor was the unbroken drought in the Bouth West, which and and fears of a renewal of French offerings. Almost the only finally checked the decline and caused a partial recovery towards 12 day's the close.
pay for
force in
of Paisha. Lopen and Paoting. The reply in the Angle-American trade HOLIDAYS WITH PAY
mea-negotiations, which was received
IN SWEDEN alone 19,000 mow yesterday, makes some concession
An Act providing for
with annual holiday and is considered to be very fer- regarding items like motor cara,
hama, lard and bacon.
into came titë..
Mr: Cordell Hull stated yester-workers, day that the Anglo-American Sweden recently. agreement was reaching its final employer falls to carry stage, but he added that he could obligations, he may be sued "for to being Due to the place atmosphere" not predict how long the negotia- damages, in addit'on of the past few days, the local tions would continue. He de called upon to give the stipulat- No penal saric- wood of market has seen a drop clined to say whether the Britished holiday pay.
DROP IN WOOD OIL
PRICES
Under it, if an
out his
111 prices From $65, the price reply. was regarded as favourable. tions, however, are provided dropped yesterday to $58 per picul,Reuter.
Imports of wood oil from China
in China and connections in the and Indo-China last month totaled principal Commercial Centres of 1.909 piculs.
the World, we are able to extend to our. Clients special facilities for Domestic and Foreign Banking and Exchange.
Head Office: SHANGHAI Hong Kong Branch: 4,-QUEEN'S ROAD, C.
South China Officer:
and Exchange, business transacted, CANTON
Loans granted
securities.
הם
4.
KONGMOON TOISHAN Approved SWATOW
KINGCHOW SHIUCHOW Current Accounts' opened in Local We also handle the issue of Currency and Fixed Deposits re- Bonds and other Public Funda of ceived for one year or shorter the Chinese Government both at periods in Local and Foreign Cur Home and Abroad.
on terms which will be
rencies
quoted on application.
Safe Deposit Boxes To Let.
KAN TONG PO.
!
Chief Manager.
SHOU J. CHEN,
Manager.
-ANNOUNCEMENT
The Chairman & Board of Directors of
.:
The China State Bank, Ltd.
take pleasure in announcing
the Opening of their HONG KONG BRANCH
11, Queen's Road Central
...
MONDAY, October 31st, 1938.
21
in the Act itself.
Philippine Mining News
DEVELOPMENT. OF KWEICHOW
.. MINDANAU
duction
N. Y. Commodity Market
(By Courtesy of Messrs. Swan. Culbertson & Frits and S. L. Levy & Company)
"ew York Cotton Dec. New York Rubber - Dec. - Dec. Chicago Wheat proft-Chicago Corn
Winnipeg Wheat
managers, on 1
The property was formerly un- sharing basis,
Atog Gold der the operation of
given Mining Company but was
MOTHER LODE and The Kweichow P.ovincial Gor- Mines, ine, produced P144 339.70
of ore treated. ernment and the Natural Resour-during September from 4.350 tons ces Comm'ssion have prepared a
EAST MINDANAO Min'ng com- scheme for the development of mercury and other mineral resour-pany reported its September pro- ap sometime this year, and Niel- December
for September at PSC, son and Company took over the January
The com- March ces of the province. in pursuance
of ore operation. August 29.
October | May of which the Kwelchow Minerai 722.38 from 3.007 tons
milled, a slight gain over the pany was incorporatea
addition the 10, 1936, with an authorized capi- July August figure. "In East Mindanao plant treated 300, tal stock of P1.200,000 with a par October 77 tons of ore for Mapaso Gold- value of ten centavos per share. Spot ... fields, Inc. from which 16,690.47 The mining claims were pur- for P300,000 from the was produced, and 338.75 tons of chased
Mining Association December ore from the Nabago Gold and kapu-Rapu
of March... which with A. Bachrach as trustee- Silver. Mines, inc. from
May the claim owners. P4.155.14 was produced.
The board of directors for the September the year 1937-1938 is composed of Sales for the day:--
Stewart Tait. Stoer the following :
DOOR CLOSED. TO IMMIGRANTS
14,
October With effect from
Netherlands the Government of East Indies closed the door to Chinese Immigrants as the quota for 1938 had reached its limit, it is learned from a reliable source. Chinese tourists are, however, still admitted into the Islands.
CONFERENCE WITH BANK HEADS
DD
·*
+99**
for
New York. Oct. 26 (Wednesday)
"
65
Dec.
464
40
Pray. To-day's High LOW Cluse Close Change.. 8.50 8.45 8.48 8.48 unch. 17.00 16.80 16.85 16.95 .10 up 651 65 1/2 off 401 461 3/8 of
- Dec.
594
581
59+
587
3/8 off
"NEW YORK COTTON
*Close
Opening
Closing
8.48/48
8.48/49
8.48/49
Change unch.
·.
(1939)..... 8.39/39
8.40/40
8.40/40
..01. up
()...... 8.38/38,
"8.39/38
8.38/38
unch.
( )...
8.24/25
8.27/27
9.23/23
.01 off
€
8.15/16
8.18/16
8:11/12
04 off
7.92/92
7.91/91
7.88/88
04 off.
8.75 N
8.80 N
05 up
NEW YORK RUBBER
16.85/88
16.806/85a 16.95/05
.10 up
16.88/89
10.88b/90a" 17.02/02
.14
16.90/92
16.88b/95a 18.99/17.03
.09 up
16.85/95
17.03/04
08
up
衫
2,040 tons
CHICAGO WHEAT
December May... July
651/652 854/659 677/68 673/672
651/651 672/677 673/67)
OI
67/87
off
Tuesday's Sales:-
12,879,000 bushels
CHICAGO CORN
464/482
491/50
463/481 ..463/461 491/491 481/49)
off
501/50%
WINNIPEG WHEAT 601/601
591/59)
501/591
оп
501/591 591/501 821/627
587/59
OK
621/631
off
Com- BATANGAS MINERALL pany, Inc., was delisted big board of the Manila Exchange and on the Interna- president; Wm. Ick vice-prest dent: A Bachrach, W. E. Hicks, tional Stock Exchange.
R. H. Berkenkotter F. J. Hig- The delisting of the stock ham, Joseph Pastori, and T.-A. the company was ordered by the Roberts, secretary. securities and exchange cÓM- mission which recently conducted an investigation of the operations of Batangas Mineral.
of
Hsinking, Oct. 28. Mr. E. Hall Patch, Financial Ad- viser to the British Embassy, con- ferred yesterday morning with the
To stock has not been traded heads of the industrial and state
on both banks, Mr Hall Patch leav-in for several months ing for North China this morning. Exchanges as a result of the order'
Reuter.
REICHSMARK QUOTATIONS
New York, 40.08
of suspension of the commission early this year, and the delist- ing of the stock is believed the Berlin, Ost. 27mination of the investiga
tion inta the... azsirs of the com- The Reichsmark was quoted
pany and of some of its officers. without guarantee at:
Mining Com- HIKBAR GOLD By pany, Inc., which has recently held its annual meeting of stock- holders, has a group of 12 gola lode mining claims located in Rapu-Rapu island. Albay province, Paris U. 8. Dollar, 37.48 to 31.668, under the operation of Nelson and Company, mining operators Transocean.
Paris, 1503
Amsterdam, 73.65 to 73,70 London, 11.905
Paris Sterling, was quoted 178.75 to 178.80
H.K. SHAREBROKERS: ASSOCIATION
BUYERS
Star Ferries $73.
December May July
China Lights (Old), $10.50. Electrics, $581. Trama, $16.80 Lands, $37. Raubs, $0.
October December
May
United Paracale, 44 ctvs.
SELLERS
China Lights (Old), $1070. Electrics, $581. -Trans. $17.
2012 40
Star Fer
Daler
December March
51/51
13.87/97
יד.
13.91/88-13.90/90
NEW YORK HIDES: (New Contracts).
13.58b/58a13.45b/501_13,52/62.
NEW YORK STRAITS TIN
46.85b/40a 16,25 träded: 46.10/10. 42-3/4
December
NY Bilrer. Offcial NY-L'don
4.70-11/18
42-3/4
€€€€
off