[PAGE_12-HONGKONG DALY PRESS
BANKS
HONGKONG AND
SHANGHAI BANKING
CORPORATION
Authorised Capital.......$50,000,000
THE CHARTERED
BANK OF INDIA,
AUSTRALIA &
CHINA
ssued & Fully Paid-Up $20,000,000 Incorporated by Royal Charter, 1855- Reserva Funds:
Sterling ......... ...£8,500,000 HEAD OFFICE: LONDON: H.K. Currency Reserve $10,000,000 Reserve Liability of
Proprietors
38. Bishopsgate EC2.-
,890,000,000) Paid-up Capital
Reserve Fund Reserve Liability of Fro- prietors......
Head Office:-HONG KONG
Board of Directors.
T. E. Pearce, Esq., Chairman. Hon. Mr. J. 1. Paterson,
Depty Chairman.
J. K. Bousfeld, Esq..
A. H. Compton, Esq.,
Hon. Mr. 8. H. Dodwell,
E. S. Morrison, Esq.,
Hon Mr. A. L. Shields.
W. H. Lock, Ex..........
G. Miskin, Esq..
H. V. Wilkinson, Esq..
Sir Vandeleur M. Grayburn,
Finance and Commerce
REPORT ON ROYAL
NETHERLANDS INDUSTRIES FAIR
£3,000,000
The 39th Netherlands Fair-including the 3rd Agricultural Fal- 23,000,000:
was held at Utrecht from September 7 to 18. The first week coincid- HM the Queen's 40 £3,000,000ed with the national festivities to celebrate
years' Jubilee, whereas the second week was Influenced by the in- creasing anxiety in connection with the development of the interna- tional political situation.
MANCHESTER BRANCH: 71, Mosley Street, Manchester.
AGENCIES AND BRANCHES:
ALOR STAR HONG KONG PINANG
AMRITSAR ILOILO
RANGOON BANGKOK JPOH
SALGON BATAVIA KARACH1 SEEEMBAN
KLANG BOMBAY
SHANGHAI KOBE
SINGAPUER SITIAWAN BOURABAYA TAIPING TIENTSIN TONGKAR
(Bhuket)
CALCUTTA CANTON
"Chief Kanager. CAWNPORK
KUALA
LUMPUR
KUCHING
'Branches:——
ingy
Ipoh
Penang
Bangkok
Jchore
Rangoon
Batavia
Kobe
#Saigon
Kowloon San
COLOMBO DELEI KAIPHONG SAMBUNG BANKOW HARBIN
MADRAS
MANILA MEDAN NEW YORK PEIPING
Calcutta
Kuala
'Francisco
Canton
Lumpur Shanghai
Chefco
Londor
Colombo
Lyons
Bombay
TBINOTAC YOKOHAMA
minute
of
TRADE DECLINE
IN FUKIEN
Industries Hard Hit By War
Foochow, Nov. 1. Considerable losses have been sustained by tukien province In its industries and commerce since the outbreak of the bos- tilitles, according to a survey made recently. The losses, the survey reveals,"were not caused directly by Japanese invasion but by difficulties of transpor- .. tation, decline of productivity and the low purchasing power of the people arising from the Invasion.
Most of Fukler's leading indus-
WEDNESDAY, NOVEMBER 2, 1938
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONG KONG
COMMODITY MARKET "REVIEW
SPOT JAN.-MARCH
(FROM PAYNE & CO.)
SINGAPORE RUBBER
Oct. 31
sellers
Oct. 29 buyers sellers 28-1/4 28-1/2
buyers
Change
28-1/4 28-1/2
unch.
28-7/8 2-1/a
28-7/8 29-1/8
unch.
APRIL-JUNE
29-1/8 20-3/8 29-1/8 29-3/8 unch. The market opened with prices unchanged for all deliveries as compared with Saturday's closing quotations.
{
In well informed Rubber circles it is believed that consumption for October in USA will show an ta:provement' over the September figures, although this may possibly not fully come up to expectations However, prospects of increased absorption for the ensuing months are very promising in view of the substantial increase in American Motorcar-production coupled with comparatively low inventories of Rubber-tires which undoubtedly will have to be replenished in due
Consequently the number of vial- the sections which were most att zors showed a decrease of about 10tractive as regards general lay- per cent as compared with the au-out. A malden participation tumn fair of 1937, but notwith-flowers was likewise much admired. On account of the growing ex- standing this fact business results
foot-and-mouth the In the different groups have been tension of
In response to quiet conditions prevalling in London and New disease Д last
decision
York the market ruled very dull after the opening. Only a moderate very satisfactory.
demand, for "spot" Rubber was in evidence, whilst very Uttle Interest Participation in this autumn reached us to the fact that our fair was large as regards the floor-famous herd book cattle could un-trial plants were situated in the to operate either way was shown by dealers and speculators. space occupied. Participants num-fortunately not be shown during coastal districts, with Amoy as the
Subsequently the market turned easier on some speculative selling bered 1211 (1207 In September our September event.
contre. Prior to the war; there which chiefly consisted of liquidation of tired longs, prices gradually 1937).
were 21 factories in Amoy, embrac-declining by 1/4 cent for all deliveries. ATTENDANCE SATISFACTORY In several groups it was evident'
. Closing tone was quiet and dull, Attendance from abroad was ing a total capital of $5,335,000 and that participants had taken great pains to give their stands'a pleas very satisfactory, and many foreign employing 730 labourers. With the fall of Amoy last May these tac- (Peking)
ing appearance, by the display of visitors were especially interestedtories were either destroyed or oc- a range of new articles, whereas in the Agricultural Falz On the Singapore
FORTION EXCHANGE and Generall prices were on a lower level than occasion of a visit of a large num-cupied by the Japanese.
Of the 28 power plants in the Sourabaya
Banking Business transacted.
ber of Belgian, manufacturers and CURRENT ACCOUNTS opened and Important groups. consisted of business-men a "Belgian-Day" was province, two, respectively in Amoy Fyochow Manila Patani FIXED DEPOSITS received for One the furniture fair as well as the held. Amongst those present was and Kimot Estand, have now fallen Haiphong Muar Swatow #4 Year or shorter periods at rates dairy and agricultural machinery the Belgian Minister. Mr. Heymans.nto Japanese hands, incurring a Ilamburg
which will be quoted on application. section. (Johore) Tientsin
Participation according to na-oss of over $1,000,000. Mukden
The Tokyo
Bank's Head Office
Other industrial plants in Foo- ini
tionalities was follows: The
3 flarbin: New York Tsingtao.
London undertakes Executor and
FAVOURABLE-RESULTS Trustee businces, and claims re- Yokohama
For the
printing Netherlands 888; United States of chow. Chuanchow, Changchow and Drst time longkew Feiping
exhibited in the America 44: Belgium 39; Denmark other districts along the coust have. Income Tax machinery was floilo
overpaid, on terms which may be autumn fair, whereas cigars were 11; Germany 120: Great Britain also been hard-hit as a result of ascertained at any of the Agencies also on display, both of them with 57: Finland 1; France (and More Japanese bombing and shelling.
cu) 26; Italy 6; Luxemburg 1; Nor- A great many of them have now and Branches.
favourable results. «
Portugal 1:] been moved inland under orders R. A. CAMIDGE,
The 3rd Agricultural Fair showed way 2; Poland 1;
the assistance of the an important increase as compared Czechoslovakia 9; Sweden 2; Swit- and with with its predecessors, both as rezerland 8: total number of particl-provincial authorities. During the removal losses through suspension gards participation and floor space pants 1211.
The Royal Netherlands Indus.of operation and transportation occupied.
Timber, dairy products, fruit; tries Fair will be held from March were heavy. horses and poultry were amongst 14 to 23 (Inclusive) next year.
Dairen Malacca Sungei
silankow
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 Haxes 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
covery
of British
Manager.
THE CHASE BANK
15, QUEEN'S ROAD CENTRAL
HEAD OFFICE:
18, PINE STREET,
NEW YORK.
SHANGHAI BANKING COR- An American Bank offering com POBATION. Rules may be obete Foreign Banking Service
tuned on application.
For the EoNG KONG & SHANGHAI BANKING CORPORATION.
V. M. Grayburn,
This Manager. Hong Kong, 7th October, 1938.
BANK OF EAST ASIA.
LIMITED.
Authorised Capital....$10,000,000.00
Paid-up Capital
Reserve and Undivided
Profits
5,508,600.00
2,776,726.76
Ilead Office-HONG KONG
No. 10, Des Voeux Road, Central.
Board of Directors:
Siri Shouson Chow, Chainau
1. Koon Chun, Esq. Li, Lau Bang. Esq.
P. K. Kwok, Faq. WengChuSon, Eng. Wong Yun To
Eny. Kan Ying Py, Pol.
Chan Chingshek,
/
Fangling Wah Esq. Kan Tong Po, sq., Chief Manager.
Li Tae Fong, Baq., Maunger.
“Bratblón "and"A ginčina 2-0
London
Amoy
Kawicon FORMAC
Bourabaya
DatAYUR
Bombay
Calonila
О
Elgatow Sydney Melbourne Bar Tabaka "olive Tinstala
Bangsom
Inphong
New York Sositio
Tokyo
Ons
Honaislu
Cobe
YEDOORVER
Yokohama
id the principal Markets of the world.
Interest Rates on Application..
SAFE, DEPOSIT BOXES
This Bank is entirely owned by THE CHASE NATIONAL BANK, NEW YORK, with Resources over 0.9. $2,600,000,000..-
D. M. BIGGAR,
Manager
BANK OF CHINA
heretofore.
DEMAND MADE ON JAPANESE RESOURCES
Industry Workers To Register
JAPAN'S HEAVY PURCHASES OF
US. OIL
BLOCKADE'S EFFECTS.
As a result of the Japanese mayal blockade, Fuklen's trade has suf-
course.
Վ
SPOT
LONDON RUBBER
Previous close To-day's close buyers sellers
sellers buyers
Change 4 B-5/18 8-3/8 8-1/4 8-5/16 off 1/16 JAN.-MARCH
8-3/3 8-1/2 8-5/16 8-3/8 off 1/16 -APRIL-JUNE
8-7/16 8-9/16 8-3/8 8-1/2
of 1/16 After ruling dull in the absence of interests, the market rallied on trade support and better New York advices.
-Rubber stocks held in the United Kingdon showed a decrease of
3,087 tons for the week ending October 31, 1938.
* NEW YORK COTION
"
Prices early declined on Uquidation and on lower advices from Liverpool and Bombay then rallied on some speculative buying, but
tion and Southern selling.
tered a serious decline. In peace again declined on the general apathy of operators, renewed liquida-
time, the total value of the pro- vince's foreign trade monthly
through Amoy, Foochow and San-
tuao normally stood in the neigh- bourhood at $10,000,000. But in October; 1937, two months after the The exigencies of Japan's war Shanghal war. the total value in China have increased her pur- or imports and exports reached chase of Califomia crude pepro- only $7,700,000, and in 'November, leum to a new high, according to it was sharply reduced to only computations of the United States $1,000,000:
Bureau of Mines.
During the first seren months 'of 1938. outhound shipments to Pacific destina- tions, virtually all of which were for Japan, reached the unprecedented figure of 33,540, 000 barrels.
The shipments for the same period last year were only
Chungking. Oct. 31. «With further demand being made on Japanese resources to carry on the war" in China in- definitely, expenses will have to be raised to invoke Article. 21 of the National General Mobilization Law, which obliges workers in many industries to register with the Government In order that it may know what “human resources" are "avail- able in an emergency. The Ordinance, will compel machine, tool. metal. chemical, tankers carried 2,005,000 barrels of PAID-UP CAPITAL $40,000,000.00 precision-instrument, mining. com- crude all out of a total of petro- (BRANCHES ALL OVER CHINA)munications, transportation, civil leum shipments of 4.728,000 bar-
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN
INTERNATIONAL EXCHANGE »
BANK
Although there has been a slight Increase, it has not more than $1,000,000 recently.
In view of the downward trend
in the province's commerce, many shops in Foochow and ather big cities have closed down-Central News.
30,497,000 barrels, while those for GERMANY'S
the "corresponding period in 1936 were Bureau reported.
even
less23,170,000-the INVESTMENTS
In July. 1938. alone. Pacific IN DANUBE BASIN
Owing to our numerous Branches engineering, architectural and re-rels. Other impressive items in
in China and connections in the lated workers to inform the Gov-the July shipments, and these principal Commercial Centres of ernment of their addresses; educa-largely consigned to Japan, in- the World, we are able to extend tion, practical experience, present cluded gasoline, diesel oli and fuel to our Clients special facilities for vocation and technical abiitty.
fall. Gasoline shipments alone Domestic and Foreign Banking and.
of the preceding Exchange.
This information is to be gather-trebled those ed through the State employment month. offices. Employers of the workers concerned will be held responsible.
Every description of Banking].
"Head Office: SHANGHAI
Hong Kong Branch:
4, QUEEN'S ROAD, C. South China Offices:
and Exchange business transacted. CANTON Loans granted on approved! SWATOW
SHIUCHOW
securities.
KONGMOON TOISHAN KINGCHOW
Remarkable Growth In Yugoslavia
NEW YORK RUBBER
Prices early eased In sympathy with lower cables from the pri- mary markets and further declined on dealer offerings and some commission-house selling. There was some buying on the decline, which was mainly attributed to Akron interests and prices partial-
y recovered towards the close."
CHICAGO WHEAT
• Increasing concern regarding the dry conditions in the Winter Thereafter. belt imparted a stubborn undertone early in the session. the market was narrow and inactive, with approaching competition from the Southern Hemisphere and smaller speculative participation making traders healtant. Towards the close, prices declined on lack of buying interest and on predictions of showers in the South-West.
N. Y. Commodity Market
(By Courtesy of Messrs. Swan; Culbertson & Fritz and S. L. Levy & Company
New York, October 31,
New York Cotton Dec..... "New York-Rabber -- Dec. Chicago Wheat - Dec. With the annexation of Austria Chicago Corn and the "Sudeten region, German | Winnipeg Wheat investments in Danubian countries, especially in Yugoslavia, are be coming much larger.
Prev, To-day's
Close Close Change
~8.55 8.56 01 up 16.77N, 16.70 07 off
48%
441 45 451 1 up
unch.
High Low 8.58 8.53 10.73 18.63
.55 .841 "841
Dec.
Dec.
45 591 581
39 ..59
NEW YORK COTTON
Close
Opening
Closing
8.55/56-
8.55/55
8.56/56
Change .01 up
8.45/45
8.46/46
8.45 N
unch.
..)
8.42742 8.43/43
8.43/43
.01 up
*8.28/26
8.24/29
8.24/24
02 of
{}
-8,10/10
7.83/63 7.81/82 8.83 N
8.11/12.
8.10/10
unch.
7.75/76
.08, oi
9.01 N
NEW YORK RUBBER
16.77 N
16.65/67
16.70/73
107 of
March
18.82/34 18.71/72
16.71/72
511 ór
May
September
18.85b/89a 16.77/77 16.87/89
16.75/70
10 off
18.79/80
108 "off
Sales for the day:--
1,490 tons.
CHICAGO WHEAT
December May
642/65
85/842
642/643
601/667
601/663
661/661
661/661
unch
Saturday's Sales:---
7,021,000 bushels.
CHICAGO CORN
Yugoslavia Germany now for seeing that it is turned it. The NEW COINS SHOW In
occupies, third place in the list of December ruling applies. however, even IMPROVEMENT
Investors, with 700,000,000 dinars, January (1939) to men with the qualifications of
The nickel 10 cent and a cent as compared to the 45,000,000 March actual workers who are doing
May" The first place is at present | July something else at present, and coins struck in the current year dinars in January 1938, these will be held responsible in- and recently received in the Colony
000 dinars, and the second place Spot in appearance, dividually for registering with the show a considerable improvement occupied by France with 1,056,000, October"
by Britain win 873,000,000 dinara, The most striking change is in To ascertain the abilities of re-the crowned effigy of His Majesty cords to be signed in Belgrade by It is expected that the new ac- Manager. gistered workers, officials will be the King appearing on the obverse Herr Walter Funk,
sent to factories to examine and of these coins. The effly is larger Minister of Economy, will place
the Reich December rade them-International.
and the inscription is in a slightly Germany in the first Tabk smaller type than in previous is-
Current Accounts opened in Local We also handle the issue of Currency and Fixed Deposits re- Bonds and other Public Funds of ceived for one periods in Local and Foreign Our Home and Abroad.
year or shorter the Chinese Government both at rencies on terms which will be quoted on application.
Safe Deposit Boxes To Let.
*KAN TONG PO,
Chief "Manager.}
THE MERCANTILE BANK OF INDIA. LIMITED
SHOU J. CHEN,
CHINA'S FAVOURABLE.. FOREIGN 'TRADE
Crungking. Now, 1.
China again had a favourable balance of trade in the month of
Government.
Following a
sues,
The changes have nected "cer- tain improvements in the technical aspects of the coins in the opinion of the Royal Mint authorities.
MINE-SWEEPING IN PEARL RIVER
FRANCE SEEKING BALANCE BUDGET
Paris, Nov. 1. meeting of the Haad Omeo:-15, Gracechurch Street, September, as statistics compiled Cabinet yesterday, lasting nearly three hours, a communique was by the Chinese Madame Customs 210non show that the total exports during issued stating that the meeting £1,17,250 the period was valued at $88,390, was devoted wholly to completing $36 and imports at 350,150,188, a detailed statement on the finan representing an excess of $18,240, cial situation, prepared by M. Mar- 448 in exports over. " Imports, chandeau, who described the mea-chased a large quantity of Ru-ure being carried out due to the
Authorised Ca
London, EC3
Saberhed Capital
Paid-up Capital"..
Barve Fund and “Host.
KANKERS:
23,000,000
pom
The Bank of England and Midland
Bank, Ltd, BRANCHES:
Kania Tipse.
Longkang
New York
Benzona
Bingha
Central Newa
Singapore
-The
BEICHSMARK QUOTATIONS
Berlin, Oct. 1. Reichsmark was quoted
10.08
HONGKONG UBANCH.
Trypkara Ubaeum iament; TRUSTEE AND EXECUTORSHIP.
... UNDERTAKEN, «STA SELAMAT AUSON tries asssad ta fosil Our #AN MIND DAPOBIEL resolved in Lewal CHAMAMOT) BY MALING NU,A, DOTALA ME ON GEFUSA,
D. BENSON,
"London, "11885.-1
Parts Sterling, 178.78 to 17883. Paru US Dollar
Transocean,
Canton, Nov. 1. The Japanese authorities - July nounce that owing to mine-sweep- BRITAIN PURCHASES ng operations at present in pro- RUMANIAN WHEAT gress, navigation of the Pearl River. The British Government, accord-ping. ing to air mail advice, has pur-
continues to be dangerous to ship-
!
It is added that these operations
December May
July
sures he judged, necessary for re-manian wheat for storage by the desire to open the river as soon as establishing" a balanced budget. Frod Defence Department, as part possible, which is expected to be Examination of the measures will of the country's war reserve. The accomplished within a fortnight, October be continued to-day-Reuter. amount is said to be about 200,000"}
Reuter.
December tons, worth about £1,000,000.
PRESIDENT TAFT
May
London, Oct. 1.
December
NEW FINANCING The Japanese authorities are: The Dollar Line's President Taft, levying a flat rate of $500 upon formerly on the United States- corisignimenta of cotton"cargo "car", New capital issues in October March Orient rum, will be rehabilitated to • from Footung to Shanghai, ir- amounted to £2,727,353 against, conform with the latest Safety at respective of the quantities carried, $1,648,504 in September end 13-3 Sea Laws.The General. EST
kaya mport. The cotton crop in 855.183 last October. The total for ng Dry Dock Oakland, has under- Pootune this year is understood, to the first ten months of 1938 was taken to carry out the necessary betexfeedingly good and is said, to 234} {a, Erich Wireless. work at a cost of BB397,000,
December
45/441 442/447 45/45 481/481 487/481 487/481 491/493
491/491
WINNIPEG WHEAT 60/801 -697/597 €0/80 58/591 6877/581 $9/59 624/62
623/021
NEW YORK HIDES; (New Contracts)
13.00 B 13.20b 13.44/44 13.70/70
13.16b
13:55/55
--NEW YORK STRAITS TIN
MY Silver, Oficial. ENT-L'don Cross Rate
46,15b/20a45,75b/952.48.90b/46.05%.
42-3/4
426-8/16-
.18. up
off
E
unch.