PAGE: 12–HONGKONG DAILY PRESS
BANKS
HONGKONG' AND
SHANGHAI BANKING
CORPORATION
Authorised Capital'00,000,000!
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA
Al
Issued & Fully Paid-Up $90,000,000 Incorporated by Royal Charter, 1855
Reserve Funds:
Sterling
£ 6,800,000
H.K. Currency Reserve $10,000,000
Reserve Liability of
Proprietors
HEAD OFFICE: LONDON:
38. Bishopsgate EC.2.
..$90,000,000 | Pàld-up Capital ............£3,000,000
Head Office:-HONG KONG
Board of Directori.
T. E. Pearce, Esq., Chairman.
Hon. Mr. J. J. Paterson,
Deputy Chairman.
J. K. Bousfield, Esq.,
A. H. Compton, Esq..
Hon. Mr. 8. H. Dodwell,
W. H. Lock, Esq.,
K. S. Morrison, Esq.,
Hon. Mr. A. L., Shields.
G. Miskin, Esq...
Reserve Fund Reserve Liability of Pro- prietors....
£3,500,000
£3,000,000
MANCHESTER BRANCH: 71, Mosley Street, Manchester.
AGENCIES AND BRANCHES: ALUB BTAX HONG KONG FENG
ILOILO KANGOON AMRITSAR
SAIGON ITCH BANGKOK
BATAVIA
KARACE!
BOMBAY
CALCUTTA CANTON
KLANG KOBE
KUALA
H. Y. Wilkinson, Esq...
Sir Vandeleur M. Grayburn,
Chief Manager, CAWNPOUR
Amoy "
LUNTUE
CKBU
Branches: Ipoh
COLOMBO DELNI
KUCHING 'MADEAS
MANILA
Penang
• HAIPHONG
Rangoon
HAMBURG
Saigon..
San
TANKOW HARDIN
Francisco
Johore
Kowloon
Bangkok
Batavia
Kobe
Bumbay
Calcutta Kuala
Canton
Chefoo
London
Culombe Dairen Foochow
Lumpur Shanghai
Singapore
Lyons Sourabaya... Malacca Sungei Manila
Patani Swatow (Johore) Tientsin Ulambuck Bankow Mukden Tokyo
New York Tsingtao Harbin
.. Yokohama flongkew Peiping Iloilo
Baiphong Muar
Current Accounts opened in Local Currency and Fixed Deposits received for one year or shorter periods in Local and other Cur rencies on terms which will be quoted on application.
Also up to date Safe Deposit Boxes in various sizes To Let.
Hong Kong, 7th October, 1938.
HONGKONG SAVINGS
BANK
The Business of the above Bank
is conducted by the HONG KONG
& SHANGHAI BANKING COR- PORATION.
tained on, application.
J
KEDAN NEW YORK PEIPINO
SEREMBAN
SHANGHAI
SINGAPORK
SITIAWAN
BOURABAYA
TAIPING, TIENTUIN TONGKAH
(Bhuket)
TBINOTAŬ YOKORAMA
(Peking) FOREIGN EXCHANGE and General Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year ur shorter periods at rates which will be quoted on application
Office Head The Bank'
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. A. CAMIDGE,
Manager.
THE CHASE BANK
15. QUEEN'S ROAD CENTRAL
HEAD OFFICE:
18. PINE STREET,
NEW YORK.
Rules may be ob- An American Bank offering com
plete Foreign Banking Service in the principal" Markets of the world.
2.
For the HONG KONG & SHANGHAI BANKING CORNÓRATION.
Y. M. Grayburn."
Chist Manager. Hong Kong, 7th October, 1938. BANK OF EAST ASIA
LIMITED.
Authorised Capital"....$1000,000.00 | Paid-up Capital 5,000,000.00! Reserve and Ugdivided
Profits
·2,776,723.78
Head Office:-HONG KONG No. 10, Des Voeux Road, Central.
Board of Directors:
Sir Shousan Chow, Chairman Li Koon Chun, Esq. 14 Lan Sang, Eng. P. X. Kwok, E. Wong Chuson, E. Wong You Tong. E. Kan Ying Pu. Exij. Chan ChingShek, Esq. FangPingWah Pra
Kan Tong Po, Eaq., Chief Manager Li The Fong, Esq., Manager.
Amoy
Bixtaviz
Bombay
Quiton
Elalphour Haskow Hosaloja Kobe
"Kowloon' 'Punta
Hangoon
Londas
Branches and Agencija zami
Bourabay Swałow Bydocy San Fran. Talhou alace Tintain
Tokyo Beatin Bemarking
Vancouver Toksbatza
ManliA Mellisarme Kagumka New York Onta
Shanghai
Parts Pelping Yogaporn
Every description of Banking and Exchange business transacted.
Interest Rates on Application...
SAPE DEPOSIT BOXES This Bauk is entirely owned by THE CHASE NATIONAL BANK, NEW YORK, with Resources over U.S. $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 Hong Kong Branchs
4, QUEEN'S ROAD, C.
South China Offices:
Locus granted on approved CANTON securities.
SWATOW
Current Accounts opened in Local SHIUCHOW
KONGMOON TOISHAN KINGCHOW
Finance and Commerce
BRITAIN SELLS SCRAP TO GERMANY
SUPPLIES OF VEGETABLES
Reported To Be From Formosa
Earlier in the week mera- bers of the local Fruit and Vegetable Guild met to study the To- the authenticity of por that supplies which ̈re- reached the Colour cently from Swatow originated from Formos
Frantic Rush SUPPRESSION OF For Metal At ENEMY GOODS
High Prices
Two
thousand tons of scrap metal a week are being sold to Germany by big British concerns, and ships to carry it are being eagerly sought, writes à London correspondent..
Chinese Government Regulations
Chungking, Oct. 28. Two sets of regulations re- spectively governing the sup- pression of enemy goods and the prohibition of smuggling. Shipping circles are asking why
were. of goods for enemy use the scrap, used to build anna-
promulgated by the National ments, is being allowed to go
Government yesterday. After careful investigation. theatroad. It is because Britain has
According to the first set, of re- members came to the conclusion gained control of the international
scrap methi trude and is able to gulations, enemy goods are listed unfounded. that the report was
stock were pro-sell at her own price. Germany is under three categories; (1) goods manufactured in the enemy coun- Samples from duced for inspection, together having to pay up to £4 a ton.
from the in- Most of the metal is being try. Its colonies and its mandated with certificates
docu-bought in America by British in-territories, (2) goods from factories spection bureau and other
a good deal of it or shops situated outside the areas shipment.terests. and ments relating
specified above which are operated to support their resold at higher prices. which tended
by enemy interests, and (3) goods view." The low prices and the
NOT REASSURING
from factories or shops situated freshness of the" supplies were
outside the areas specified above which have been seized, or are con- also noted
trolled or made use nt by the
to..
to
TU-
the
It was presumed that the mour was caused by the Japanese
offer Coasul-General's Hongkong Government to trans- from port necessary supplies
Bay Formosa during the Blas operations.
The Chinese Chamber of Coz zerce has been informed of the to the Commerce matter and has written Swatow" Chamber of asking that further inquiries be made.
MILLION EGGS
A million and a quarter salted eggs reached Hongkong from Swa- tow on Thursday, with the result. that the market price of the cont modity dropped from $30 a thou- sand to $29.
SHANGHAI TRADE STAGNATION
The
influx
into
of refugees Shanghai tended for a time to swell current deposits of local Chi- nese banks but such deposits are now being withdrawn. Legitimate trade and business has also been tremendously affected by the cur- rent hostilities, most Arms having resorted to retrenchments, With Shanghal and interport trade, al- most stagnant as a result of the hostilities, banks have been com- pelled to lower their interest rates and are adopting a cautious, at titude in extending credit igans.
enemy.
Such enemy goods will be in- vestigated and announced by the Ministry of Economics..
SATURDAY, OCTOBER 29, 1938.
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONG. KONG
COMMODITY MARKET REVIEW
SPOT
JAN.-MARCH
(FROM PAYNE & CO.)
SINGAPORE RUBBER
Oct. 26 buyers sellers
JJ
23-1/2 23-3/4
29-1/4
20
Oct. 27 buyers sellers
Change
up 1/8 up 1/4
29-5/8 28-7/8 29-1/4, 29-1/2 APRIL-JUNE
29-1/4 29-1/2 29-1/2 29-3/4 up 1/4 The market opened 1/8 of a cent higher for all deliveries as com- pared with Wednesday's closing rates.
Steady conditions prevailing in London and New York were res- ponsible for the market displaying a better feeling throughout the day.
#
Demand from principal consuming countries, particularly from USA., was brisk, whilst also good buying interest in forward positions fur trade and speculative accounts was In evidence. h
A fair volume of business was transacted on basis of quoted rates, the market closing with, a quiet, but steady undertone.
With orders coming in more freely from US.A., a more hopeful view is entertained in London that external influences will not play any more such an important part in the movements of Rubber prices and that conditions of supply and demand will again assert them- selves. In this event there is little doubt that Rubber will reach higher levels during the ensuing months.
feel, Many
now people however, that with Germany's declarations of her desire for peace the frantic rush to buy, sarap is not reassuring. The metal is being shipped from purts as far apart as Liverpool,
Enemy goods already purchased Belfast, London, Dover, Shoreham, Plymouth, and Yarmouth. It is should be registered with the SPOT taken to Duisburg and Hamburg. government in accordance with JAN.-MARCH
Both Germany and Italy have provisions in the regulations. If
registered, they duly ship-not outbidding British
to confiscation, when been breakers in order to get old ships subject and 'break them up for scrap. But found. they are having to pay prices un- known two years ago.
#
STATE AID FOR SILK TRADE
Loans To Help Exports
In order to maintain China's silk trade with foreign coun-
National Govern-- tries, the ment has appropriated a sum of $5,000,000 to be used Tar Joans and in ather help exports.
WAYS
to
are
DEATH PENALTY Punishment varying from six months' imprisonment to death penalty, with pecuniary 'fines less than $5,000, are threatened for violation of the regulations.
The second set of regulations the bruhth-tion of governing smuggling of goods for enemy use applies to all Chinese goods which tend 10 increase
APRIL-JUNE
LONDON RUBBER "
Previous close buyera
seller's
8-5/16 8-3/8
#To-day's close
seliers buyers 8-3/8 8-7/18
Chanze
up 1/18 8-3/8 8-1/2 8-1/2 "8-9/16 up 1/8 8-1/2 8-9/16 8-9/18 8-5/8 up 1/16 After ruling quiet, the market hardened on a little trade demand.
NEW YORK COTTON
The market to-day was inactive, with price movements confined within narrow limits. Traders were waiting for new developments before entering into fresh commitments. Values declined slightly on Liverpool cables, Trade liquidation and hedging. Finally, there was some foreign demand, but this was on a limited scale and was not sufficient to influence prices.
NEW YORK RUBBER
'CHICAGO WHEAT
+ A steady market on a private estimate of a substantial reduction In British stocks of rubber this week. There was some factory buy- the enemy's Ing, but prices were affected to any degree. Finally, the market eased strength. They are strictly forbid on locdi selling. den to be transported to the 101- lowing areas; (1) the enemy coun- try, its colonies and its mandated territo:105. and (2) territories outside the areas specified above which are now under enemy con- trol.
has nisc Such goods and forbidden areas' The Government established bureaux in many pro- will be specified by the Ministry Anyone who is found smuggling vinces to advise and control pro- of Economics from time to time. duction and export of stik.
ren-koods already specified to forbid- Cocoon crops have been dered very poor in Japanese-oc-den areas will be subject to a ne cupied districts on account of the of less than $1,000, in addition to but in the confiscation of the goods. I conditions, disturbed
parts of the goods are actually intended to eastern Cheklang and Kiangsu there is teeming pro- be sold to the enemy, he is liable
fe imprisonment.or
death 50 to duction of cocoons.
Bhang-penalty. far, have safely reached
Confiscated goods and pecuniary dishai, whence many flatures have
is removed.
SIAM MAY ENFORCE EXCHANGE CONTROL
EX-
If the Siamese "Government en- forces
control of foreign change, which an air mail patch from Bangkok reports being contemplated, the structure of overseas Chinese economy will
Slam's be greatly jeopardised,
alleged anti-Chinese of mil- policy caused, the fight lions of dollars to Singapore dur- in the months of August September, and Siamese have been no little alarmed.
and officials
"
CUSTOMS EXCHANGE
CERTIFICATES Announcement was made yester- day by the Chinese Maritime Cus-
A favourable turn
in
These,
Conditions were very dull. The sharp decline in Liverpool prices affected the local market. Indications of an early harvest in the Southern Hemisphere also influenced the market. There was pro- fessional selling towards the close owing to favourable crop outlook in the South-West.
N. Y. Commodity Market
(By Courtesy of Messrs. Swan, Culbertson & Frits and S. L. Levy & Company),
fines will be used for relieving New York Cotton China's Chinese refugees, wounded soldiers New York Rubber silk export trade has been noted and troops at the front-Central Chicago Wheat, since the lessening of tension in News. Europe.
COMMUNICATIONS WITH CHINA
THREE AVAILABLE
ROUTES Pending re-opening of the Pearl has ascertained toms offices in Canton and Hong-River, a "Hongkong Daily Press" kong to the effect that Henceforth representative certificates of purchase of foreign that the three main methods of exchange may not be attached to communication with China pro- per are as below. These may, in- the Invoices submitted to the
deed, be taken as the only means. Manager, Customs office.
Currency and Fixed Deposits re- We also handle the issue of ceived for one year or shorter Bonds and other Public Funds of periods in Local and Foreign Cur-the Chinese Government bath at rencias on terms which will be
Home and Abroad. quoted on application.
Safe Deposit Boxes To Let
KAN TONG PO,
Chief Mannger...
THE MERCANTILE "BANK OF INDIA,
LIMITED
Head Omice:-15, Gracechurch Streat.
London, ECS
Authorised Capita
nbcribed Catal
Paid-up Capila
Reserve Fund and est,
BANKERS:
£3,000,000
£180,00
$1,010,000
E1,217,830
The Bank of England and Midland
Bangkok Boosy Calcutta Colotaja Delisk
Galle
Bank Ltd. BRANCHES:
Ipak Kasalan Kandy Kamchi Kota Bharu Karla La
Kadma
New York
Pasang Raxmoo Kinghal -Biala. Blogações.
HONGKONG BRANCH. Fyry duterlyʻion of Banking and "Exchange cupine tramwote.
Travelers' Cheques, insted,'' TRUSTEE AND EXECUTORSHIP UNDERTAKEN.
CURRENT 4000□NTS Braad in Least dur DEY SA PILED DATOS225 moved t Loos Darrency, STRELING SU, E, DOLLAZO os fernse that may soortzi ned su apyļākam; ?!
D' BENSON.:
SHOU J. CHEN,
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
on MONDAY, October 31st, 1958,
(a) By regular steamer to Macao and from there by bus to Shekki; thence by towboat to Chan Chuen or Canton, and- alternatively, by boat to Korig- moon and on to Wuchow by junk.
(b) by launch and sampan direct from Macao to Kong-
โย :
13.000.
Prev. To-day's Eigh Low Close Close Change
8.40 8.49
8.48 8.49. 01 up 18,93 18.95 17.05 65% 461 451 581
New York October 27
Dec....****
Chicago Corn Winnipeg Wheat
Dec. Dec. Dec........ Dec."
18.93 .02 DA
65k
651 651
1/8 up
461 451 1/2 off
581 S3.
58 3/8 off
NEW YORK COTTON
ITALIAN AUTARCHY COMMITTEE MEETS
Close
Opening
Closing "
Change
December January (1939)
8.48/49
8.47/46
8.49/49
:01 up
8.40/40
8.38/38
8.39/39
.01 off
8.38/38
8.36/37
8.37/37
01" of
R
8.23723
8.21/20
8.21/21
.02 off
8.11/12
8.08/09
8.07/07
04 of
}
7.88/88
7.88/86
7.83/84
.05 of
8.30 N
8.80 N
NEW YORK RUBBER
16.95/95
17.00/03
16.93/93
,02 of
17.02/02
17.07b/08a. 18.96/99
.08 of
16.99/17.03 17.03/04
17.01/01
800 tons
CHICAGO WHEAT
Adjustment Of Food March Production Stressed July
May
October ( The recently formed Italian Spot
met in Rome for the first time chairmanship recently under the Supreme Committee for Autarchy,
December of II Dace himself.
While addressing the Commit- March tee, Bignor Mussolini lald part-May
necessity September..... cular emphasis on the
Sales for the day:-
of adopting Italy's production #to her foodstuff requirements.
"Italy's population," he said, a growing constantly and will reach in a few years the fifty million December
into May We must take this mark. account while drawing UD our July production plans.”
*
Wednesday's Sales:
Siguor Lantini, Minister of Cor- poration; then made a report on the application of the Autarchy (c) by river steamer from
Other December Plan for the first year. Hongkong to Kwangchowwan.
questions on the agenda incind- May Goods for the interior have toed the problem of creation of new July be shipped from here to Kwang Industries, investment of capital, chowwan and then transported, by production of metals, fuels, grain, motor truck to Kwangsi. where cereals, oils, wines, alcohol, etc.
distribution can be made to Hunan and Bzechuen. The fact that there are at present very. few lighters in Kwangchowwan makes dis charging of steamers a matter of some dificulty.
the
"Another route is to ship goods to Haiphong, whence trans- DOTE 19 Tall to Ewangel or Yun- nanfu is available.
Cargo for Canton vid Shekkel has to be shipped from Hongkong to. Macao and thence by lighter to the interior
REICHSMARK QUOTATIONS
Berlin, Oct. 28, The
Reichsmark was without guarantee at:
New York 40,08 Paris, 1503.
Amsterdam, 73,825 London. 11.9125
October December
May
quoted
December. March
Paris Sterling, 173,80 to 178.87 Paris US Dollar, 37:44.
December.....
unch.
17.076/13a 16:98b/17.00a -.01.
651/651 654/651 65-1/651 671/671.. 871/671 67/871
671/672 67/671
up off
unch
16,174,000 bushels
CHICAGO CORN
401/40 194/401 500/601
WINNIPEG WHEAT
601/504 594/591 587/59 682/689
48/481 491/491 401/491
452/451
501/501
59/68
821/621
581/581 611/62
NEW YORK HIDES: (New Contracts)
1352/52
13.90/90
13.55b/65a - 13.40b/45 12.95/14300 13.74/76..
NEW YORK STRAITS TIN
45.10/10 NY Bliver, Official ...... 42-3/4° NY-Udon Cross Rate...478
46.15b/30a46.30b/40
14.70-3/4
1885