PAGE 12-HONG KONG DAILY PRESS
BANKS
HONGKONG AND
SHANGHAI BANKING
CORPORATION
Authorised Capital 850,000,000|
THE CHARTERED
BANK OF INDIA, AUSTRALIA & CHINA
Finance and Commerce
GOLD MINING STOCKS IMPROVE
Issued & Fully Paid-Up 920,000,000 Incurporated by Royal Charter, 1855 COLONY SURPLUS SHARE MARKET NEW FINANCING
Reserve Funda ;
Sterling
E.K. Currency Reserve $10,000,000
Reserve Liability of
Proprietors
€ 6,500,000
.$90,000,000
HEAD OFFICE: LONDON: 38. Bishopsgate EC.2. Fald-up Capital Beserve Fund Reserve Liability of Pro- prietors....
£3,000,000 £3,000,000
£3,000,000
Head Office-HONG KONG
Board of Directors. TE. Pearce, Esq., Chairman. Hon. Mr. J. J. Paterson,
Deputy Chairman
G. Miskin, Esq.,
H. V. Wilkinson, E..
Sir Vandeleur M. Grayburt,
MANCHESTER BRANCH: 71, Mosley Street, Manchester.
BATAVIA BOMBAY CALCUTTA
"KARACHI KLANG KOSK
J. K. BousBeld, Esq.,
A. H. Compton, Esq.,
Hon. Mr. S. H. Dodwell,
W. H. Lock, Esq.
BANGKOK
FOR
K. S. Morrison, Esq.,
Hon. Mr. A. L. Shields.
CANTON
KUALA
Chief Manager.
CAWNTO RE CLAU COLOMBO
KUCHING
AGENCIES AND BRANCHES:
HONG KONG PENANG ALOR STAR
ILOLLO RANGOON AMRITSAR
SALOON SEBELBAN SHANGHAI 31NGAPORE SITIAWAN BOURABAYA TAIPING
LUMPUR
MADRAS
TIENTSIN
Branches-
Ainoy
Ipoh
Pensug
Rangoon
Batavia
Kobe
Saigon
Bombay
Kowloon
San
DELHI HAIPHONG
·HAMBURG HANKOW- HARDIN
MANILA
TONGKAH
HEDAN
(Bhuket)
NEW YORK PIPING
TSINGTAO
(Peking)
Calcutta
Kuala
Bangkok Jobore
Chotoo
Chefoo
Colombo Dairen Foochow
Francisc
Lumpur Shanghai
London Singapore
Lyoną Bourabaya
Pateni Swatow
YUKOHAMA
DECREASES
September Figures Released.
Although Government expendi- ture during September exceeded revence by $230.000, the end of the month found the Colony with a balance of $15,397,428.43.
with
SHOWS PRICE FIRMNESS
BY C. A. L. RICKETT Hongkong Sharebrokers'
Associatiun
shares
IN LONDON
British Solidarity Gives Confidence
what
It is remarkable with confidence new business is be- ing approached la the London although market, financial
which the moment is not one might have seemed propitious for the financing of fresh trad- ing developments, writes 1 London correspondent. Such confidence is of course
British of resources based in the first instance on the
returns.
the the the
11 London £305,000,000.
い
MONDAY, OCTOBER
31, 1938.
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONG KONG
COMMODITY MARKET REVIEW
S. POT JAN.-MARCH
APRIL-JUNE
(FROM PAYNE & CO.)
SINGAPORE RUBBER
Oct. 28
Oct: 29
buyers sellers buyers sellers
Change
28-5/8 29-1/4 29-1/2 29-3/4
28-1/4 28-1/2 28-7/9
28-7/8 29-1/8 29-1/2
29-1/8 20-3/8
of 3/8
of 3/B off 3/8 The market opened 1/4 of a cent lower for all deliveries as com- pared with Friday's closing rates.
Influenced by the disappointing action of the, Rubber Exchanges in London and New York the market displayed a very quiet and dull undertone throughout the session.
The fact that there were fair enquiries for "spot" Rubber from
lative interest operators preterring to remain on side-lines for the time being, no doubt being influenced to act very cautiously in view of the uncertainties with regard to the fixation of the permissible ex- port quota for the first quarter 1939.
After a moderate volume of business having been transacted on basis of quoted rates, the market closed with a very dall undertone.
Contrary to expectations the estimated decline of about 2,600 tons
ment offers at lower prices. Major price-fluctuations arc, however, in U.K. Stock for this week practically had no influence on the Ex-
not anticipated until after the LRR.C.'s meeting on November 15. changes in London and New York due to reports of increased ship-
LONDON RUBBER
The market has been very quiet during the week and, in spite of the fall of Canton followed by that of Hankow, prices have been fairly This is nearly $300,000 less than well maintained but are inclined to sag through paucity of business at the end of August.
Actual expenditure from Janu- rather than undue selling. Most ary i to September 30 was $25,841, shares offering have been taken off 595,
is almost $2,000,000 the market, but owing to the nar- which more than for the same period in wness of trading buyers. in some 1937. However, the increased ex-instances, have been unable, to ob immense
at quoted rates. As financial institutions, while it is ottain shares the month penditure for
predicted the volume of business also due to the intrinsic sound-rincipal consuming centres, failed, however, to stimulate any specu- -38 compared September
The financial soldity of September, 1937 was only $300,000 has shown a tendency to fall offness of British Industry,
is apparent troni after country On the revenue"side, the intake still further.
Hongkong Bark
During $2,495,197.94, for September was which was a little over $20,000, less changing hands at $1390 could be banking
by
the further en-discounted- than during the same month last obtained at $1385. Trams changed month of August the total of bills
Was January "1 "and hands at $183 with Between year. FORKION EXCHANGE and General
September 30, the total revenue quiries at this figure. Electrics clearing banks Banking Business transacted.
CULLENT ACCOUNTS opened And was $27.236.744.12, which is very were wanted at $581 and Lands at a figure not only considerably Malacca Sungei
FIXED DEPOSITS received for One nearly $3.000.000 in excess of the $37 with sellers at $37 China bigger than that for the preceding for the corresponding Lights. (o) were wanted at $10.60.month, but £28,000,000 above the
Business has been reported in total for August 1937. Manila
Year or shorter periods at rates income Haiphong Muar
which will be quoted on application. period in 1937. (Johore) Tientsin
Head Office in The Bank's
In fact, after the first nine Telephones (0) at $243" and Wat- London undertakes Executor and months, the revenue totailed only sors at $74. Cements could be obed to no less than £2.289.092,000 Trustee business, and claims re-
$3,000,000 short of the estimated tained at 316.40 and Hotels at $61. or £15,000,000 more than in the British With the dullness of the local corresponding month of last year, of British Income Tax
the fact market interest has revived to and the steadiness of covery overpaid, on terms which may be revenue for the whole of the year,
some extent in gold mining stocks trade is evident from which have shown an all round.im-that the ratio of bank advances to ascertained at any of the Agencies
of the deposits continues at the level of provement. This section and Branches.
R. A. CAMIDGE,
market is displaying renewed ac-142 per cent. tivity with a marked advance in War is changing Japan, Into grimly fatalistic nation, scarcely the prices of some of the producing recognizable as that of two years mines. San Mauriclo were again ago. Everywhere, says the "New Cutstanding and passed the Peso z in new capital issues, and the of mark to Ps. 1.10. Antamoks justi-variety of interests for which new York Times," there is evidence
Business fed the long, tried patience or money is being raised is a sign of stringent ecor.omies.
the financial and industrial buildings, homes, shops and streets holders by advancing 15 centavos the confident tone prevailing
to 57 centavos, United Paracale im-
kets of Great Britain. are not being repaired.
Apart from these issues, large A general air of pinching pover proved 13 centavos to 491 centavos.
on spreading shabbiness Coco Grove closed at 52 an im- ty" and
who provement of 7 centavos, and LXL Capital sums are being spent sharply strikes
enterprises, but by puble authori- the hostill- centavos better at 68 centavos. expansion not only by industrial knew Japan before
ties. Market closed firm.
In extensions now being made to the underground electric
Hamburg
Mukden Tokyo Hankow Harbin New York Tsingtao
Yokohama Hongkew. Peiping Iloilo
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 abure Banki is conducted by the HONG KONG' & SHANGHAI BANKING COR PORATION. Rules may be ob tained on application.
77
For the Hose KoNG & SHANOHA! BANKING CORPORATION.
V. M. Graybarn.
Chief Manager. Hong Kong, 7th. October, 1938. BANK OF EAST ASIA, LIMITED:
Authorised Capital
..$10,000,000.00)
6,598,800.00 2,770,726.78
Reserve and Undivided
Paid-up Capital
Profits
Head Office:-HONG KONG No. 10, Des Voeux Road, Central.
Board of Directors:
Sir Shauson Chow, Chains Li Koon Chun, Esq. Li Lan Sang, Esq. WongChusoo, Esq. P. K. Kwok, Esq. Wong Yun Tong, Faq. Kan Ying P, Ea ChanChing Shok, Esq. FangPingWah Esq.
Kan Tong Po, Esq., Chief Manager. Li The Foag, Esq., Manager.
* Branches and Agencies ----
Ainoy Batavia
Dombay
Palesti ants
Haiphong
Hankow Honolulu Kobe
Kowloon Loodus Manila Melbourne Xurusta New York Onak
Parli
Pelplag
PADR Джадров
Sourabaya Swatow Hydney en Fran- Talhoku Titula Tokyo Scattis Semarang Tancouver. Shanghai Tokohina Singapore
Every description of Banking
4
Manager.
THE CHASE BANK
18, QUEEN'S ROAD CENTRAL
HEAD OFFICE:
18, PINE STREET,
NEW YORK.
An American Bank offering com
plete Foreign Banking Serviceties, in the principal Markets
the world.
Interest Rates on Application.
of
SAFE DEPOSIT BOXES This Bank is entirely owned by THE CHASE NATIONAL BANT, NEW YORK, with Besources over (T.S. $2,500,000,000.
D. M. BIGGAB,
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 Branch:
4, QUEEN'S ROAD, C. South China Offices:
and Exchange business transacted. CANTON on approved SWATOW
SHIUCHOW
Loana granted
securities.
KONGMOON TOISHAN KINGCHOW We also handle the issue of
JAPAN FEELING THE PINCH
observers
a
All foreign residents in Japan. and Italians. Germans except
espion- complain of the constant age, interference with their letters and telephone calls and bribery of their servants.
BANKS REMOVE FROM SWATOW
MACAU SERVICE BOOM
Deposits in these banks amount-
NEW CAPITAL ISSUES Meanwhile there is no slacken
in
mar-
SPOT
JAN.-MARCH APRIL-JUNE
Market quietly steady.
8-1/2
Te-day's close Previous close buyera sellers buyers sellers
8-3/8 5-5/16 8-5/16 8-3/8
8-3/8 8-1/2
8-1/2 8-7/16
3-9/16. 8-7/18 8-9/16
Change
unch.
off 1/16 off 1/16
14
The average forecast of last week's stocks of rubber in London and in Liverpool shows a decrease of 2,800 tons.
"NEW YORK COTION
Prices early advanced on higher Liverpool and Bombay advices together with some speculative buying and covering, but later the market partially reacted on hedging and liquidation. Prices then re- covered on foreign and trade buying. but again eased in sympathy with the easiness of the stock market.
H
NEW YORK RUBBER
The market to-day was quiet and prices moved within narrow railway in London the cost of the limits. The tone held steady, influenced, by steady London cables. tunnelling
alone
is £2,500,000 Trade buying was the sole feature, but business was light.
while the Postmaster-General has announced that no less than £2 500.000 will be spent this year on
operating Shipping companies services between Hongkong and Macau are experiencing a sharp the development of postal and boom, consequent upon the closing telephone communications in Scot- of the Pearl River.
There are now seven ships run-
Due to the tense situation ating daily between Hongkong and Swatow, the branches there of the the Portuguese Colony, and every Bank of China, Central Bank and trip the vessels are crowded with The vessels are the ss. Tin Yat, the Bank of Communications have passengers and packed with goods. suspended bustness and removed to Hongkong."
#
BELGIUM FLOATING
LOAN
To Cover Expenditures Of-Mobilization
land
HARD COPPER
་
MADE DAILY
Hay AT FORD PLANT
ss. Sui Tai, s.s. Tai Shan, ss. Sal On, s.s. Chuen Chow, Kong, and the 3.5. Macau
,'
The dream of making copper as It is learned that the owners of vessels normally plying between hard as steel: a dream that pos- Hongkong and Canton now bottled sessed the ancients with almost the up at Canton, are discussing plans intensity of their ambition to tran for placing their vessels on other smute base metals into gold-1s routes when they are released.
CHICAGO WHEAT
Prices carly declined on lower cables from the foreign markets and on iquidation, but later partially rallied on better advices from Winnipeg and a better mill demand.
N. Y. Commodity Market
(By Courtesy of Messrs. Swan, Culbertson & Fritz and 8. L. Levy & Company)
New York, October 29.
New York Cotton - Déc. being realized every day by Ford New York Rubber - Dec.
Chicago Wheat Some of the boats will be put on Motor Company metallurgists. the Hongkong-Macau run.
Bankers
They regularly make a copper so Chicago Corn hard it could actually be used to Winnipeg Wheat forge steel, and to accomplish this 38 an alloy the little- they use the known element beryllium which Association until a few years ago cost $100 &
Owing to the expenditures en- called in the measures which the!
The Tung Wo Commercial Savings Government was forced to take during the recent European crisis. Bank, a member bank of the floating of a 1,000,000,000 Bel-Shanghai glan Franc loan is, contemplated. suspended business last. Friday pound
repaid following a heavy run upon its The loan would be through drawing of prizes, and current and fixed deports. The the interest would be 3 per cent. bank, which is capitalized at $500 the first ten years and 4 per cent. '000, is being liquidated and a re-required to give the copper the Jui from the eleventh.
Current Accounts, opened in Locs! Currency and Fixed Deposits re-Bonds and other Public Funds of|||| ceived for one year or shorter the Chinese Government both at periods in Locel and Foreign Cur-Home and Abroad: rencies on terms which will be
quoted on application.
Safe Deposit Boxes To Let.
KANTONO PO
Thief 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.
ceiver is being appointed.
Philippine Mining News
al
December "This hard copper of course is January (1939) (,) (...) beryllium copper, but only a very March small proportion of beryllium is May
(...)
desired hardness" according to B. October Cup)
H. McCarroll, in charge of chemi-spot..... cal and metallurgical engineering
L
of
for Ford Motor Company.
"The method of making it was discovered only a few years ago, and the metal has quickly found many industrial tises.
One of its principal uses is for
MINE. FACTORS, Inc., reported time was reported to be satis recently that mined production factory. Ore reserves estimated on the company's, Biquijor man- by the bureau of mines as
amounid tor ganese property during the month June 30, this year,
and other tools necessary in indus- of September amounted to 5,250 110,644 tons with a total value of making non-sparking hammers
with an average tons of ore with a value of P94. P3 631,208, or 500. It was not stated, however, value of P32.81 per ton. it was trial processes, where sparks might whether or not this amount of ore further disclosed.
Present work has revealed was shipped.
Mine Factors mined 7,200 tons of a tonnage and value
Dec
Dec.
Dec.
High Low
0.66 8.53 18.75
16.75 642
641
Frey. To-day's
Close Close Change 8.55 ,02 up 8.53 18.75 16.77N .02 up
65
-1/8 oft
451 444 451
45
1/8 of
591
481 581
50
1/2 up
NEW YORK COTTON
1
Close 8.53/54
Opening 8.54/54
Closing
Change
8.55/56,
.02 up
....... 844 N
8.44/43
8.45/45
.01 up
8.41/42
8.42/42
8.42/42
of ap
8.24/24
8:25/25
3,28/26
02 up
8.11/12"
8.11/11
.8.10/10
7.82/82 8.88 N
7.81/79
+ 7.83/83
B1 up
8.83 N
05.00
NEW YORK RUBBER
16.755/75 16.75b/85a 16.77 N
16.80/81
18.81b/856 16.82/84
16.85b/89a 16.82/82
៩
BERS
December March May September
16.82/94
16.90/91*
16.87/89
Sales for the day:
760 tons
CHICAGO WHEAT
create an explosion hazard. The December ore chemical industry uses lots of it May several for this purpose.
"We manufacture beryllium cop-
85/651 661/881
65/847
647/65
581/561
804/667
."
July
661/681
663/681
Kup
Friday's Bales :----
14,719,000 bushela
CHICAGO CORN
461/451
45/441
43/447
off
42/483
481/481
481/481
off
498/483
49/491-
on
small
WINNIPEG WHEAT
October
581/581
EXHIBIT December AT NY. FAIR COFFEE
881/681
$81/581 -581/581
60/601
50/501:
May
621/621
621/621
NEW YORK HIDES:
(New Contracts) {
December March
of manganese ore in Angust, 4,000 times what has been milled and ton's being shipped on the 2. s.indicated higher ore reserves than per in our plant at Dundee, Mich!- welding electrodes because it has Bing last week but included in those estimated by the govern-Ban for use in making electric
a high electrical conductivity and December the Beptember sale of the comment, it was pointed out.
AMALGAMATED .... MINERALS, pany.
in operated STA. ROBA Mining Company, Inc., expects to make a shipment The Ford plant at Dundee is cne May
industries" Inc., mined 4,440 tons of ore during of manganese ore early next of the dozen or more Ford "yllage July
its from
property the month of September with aj weer
Busuanga island, Coron Palawan, Michigan communities..." recovery of P78,668.66.
The company is expected to The mill heads of this ton nage approximated P90,421,35. The make also a' shipment of manga- production last month compares nese from the property of Com- with the August output of 6,479 -pania- Minera de Pilipinas located in the same place. Amalgamated tons with value of P113,143,62
The lower production in Sep-Minerala is acting as agents for tember was attributed to the Compania Minera in the sale of major exhibits of Brazil as the New York World's Fair in 1939. The working on raises from the fso ore of the latter nem level of the Pelang Vein, the ore Amalgamated Minerals was not entire process, from cultivation from this development work be able to make shipments in Sep of the bean to its final brew- thering is to be kihown in novel ing milled instead of being thrown Lember dae to bialement
ore thanion, As it was direult to haul Development work on the prop from the property to the arty of Sta, Row at the present shore, it was pointed out
Coffee is to be one of the
13.30b/25a 13.12b/20a 13.15b 13.60/61 13.00/50 13.55/55
NEW YORK STRAITS TIN
45.80/80 ́45906/48.102 46.15h/20a
476-9/16
Coffe lovers will be December obteft the beverage at a Ny silver, Ömízíài
NY-L'don Cross Rate. 476-1/2
EE