PAGE 12-HONGKONG DAILY PRESS
BANKS
HONGKONG AND
SHANGHAI BANKING
CORPORATION
Authorised Capital $50,000,000
THE CHARTERED
BANK OF INDIA, ·
AUSTRALIA & CHINA
Issued & Fully Paid Up $20,000,000 Incurporated by Royal Charter, 1858 Beserve Funds:
H.K. Currency. Reserve $10,000,000 Reserve Liability of
Proprietors
P
Sterling
£8,500,000.
HEAD OFFICE: LONDON: 38, Bishopsgate E.C.2.
.$20,000,000 | Paid-up Capital,
Head Office:-HONG KONG
Reserve Fund Heserve Liability of Pro-
prietors...
£3,000,000 £3,000,000
£3,000,000
Board of Directore.”
T. E. Pearce, Esq., Chairman. Hon. Mr. J. J. Paterson,
Deputy Chairman.
J. K. Bounßeld, Esq..
A. B. Compton, Esq..
ilon Mr. S. H. Dodwell,
K. S. Morrison, Esq..
Hon. Mr. A. L. Shields,
W. H. Lock, Esq..
G. Miskin, Esq.,
MANCHESTER BRANCH: 71, Mosley Street, Manchester.
AGENCIES AND BRANCHES: ALOR STAR - HONG KONG PINANG. AMBITBAR ILOILO BANGOOM
LIDE
BAIGON SKEMMDAN KARACHI KLANG
BHANGRAI SINGAPORE BITIAWAN COURABAYA TAIPING T:ENTSIN. TONGKAH
(Bhuket)
H. Y. Wilkinson, Esq.,
Sir Vandeleur M. Grayburn,
Chief Manager. CAWKPORE
Branches:
Awoy
Ipoh
Penaug
Bangkok
Johore
Batavia
Kobe
Rangoon Saigon
4
Bumbay
Kowloon San
.. Caloutta.
Canion
Chefow
Culombe
Kuala
Francisco
Lumpur Shanghai
London
Singapore
Lyons Sourabaya Atalacca Sungei
Foochow Manila
Patanj Swatow
Dairen
Haiphong Muar
Mukden
Takya
Hamburg (Jobore) Tientsin
Hanhow
Barbin
Hongke floilo
New York Tsingtao
Yokohama Priping
2.
Current Accounts opened in Local Currency and Fixed Deposits received for one year or shorter periods in Local and other Cur- Arncles on terms which will be
quoted on application.
An 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 CO PORATION. Rules may be ob tained on application.
For the Hong Kong & SɛANGHAI 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,598,500.00 | Reserve and Undivided.
Profts
2,776,728.76
Head Office:-HONG KONG
No. 10, Des Voeux Road, Central.
Board of Directora: "·
Sir Shunison Chow, Chairman
Li Koon Chun, Esq. Li Lan Bang, Biq. P. K. Kwok, Esq., WongChuBou, Esq. Wong Yun Tong, Esq. Kan Ying Po, Esq ChanChingSher, Esq. FangPingWah Esq Kan Tong Po, Esq., Chief Manager, Ji The Fong, Esq., Manger.
Batavia
Bombay Olentza
Haiphong Hawkow Homolelu
Kob
Brancher and Agridar
Kawicon London
علامة
Melbourne NAGA New York
Pan And
*Hangoos Salgon Sara-
Boerabaja Bwatów Sydney Talhoku also intim. Seattl Tokyo Semarang Yaacoster Yokohama Shanghai Pelping Hingapor
Oska
Parle
Every description of Banking
BANGKOK
DATAVIA
BOMBAY
CALOUTTA CANTON
KUALA
LUMPUR
GEBU
KUCHING
COLOMBO
MADRAS
DELHI
MANILA
(KAIPHONG
} HAMBURG
HASLOW
KARDIN
MEDAN NEW YORK „PRIPING
(Peking)
TRINGTAO TOKOHAMA
FOREIGN EXCHANGE 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.
Bank's The
Head Office in London undertakes. Executor and Trustee businees, and claims - of British Income Tax Entery 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,
Finance and Commerce
UP
GOODS PILE
IN GODOWNS
Dealers Asking
For Grace
Imported foreign goods, valued at over $10,000,000, are piling up steadily in Hongkong gedowns. of tex- Consisting in the main tiles, copper and iron goods and electrical appliances, they cannot intended consumers be sent to
ine owing to
disruption of communications with the interior. Maintaining that clearance date is long overdue, the import- ing firms are arging dealers to take delivery of these goods The dealers, however. intend
to
1939 BRITISH
INDUSTRIES FAIR
Largest Trade
Display
The British Industries Fair of 1939, to be held in London (at Olympia and Earls Court) and at Birmingham (Castle Bromwich) from February 20 to March 3. will be the 25th since 1915, the year of the Fair's inception. It has steadily grown until it is
now the largest national trade display In the world.
ask for a further period of grace from powerful engineering plants
that
of
YANGTZE DELAY EXASPERATİNG
British Circles Impatient
London, Nov. 25. British circles interested in the China trade are beginning to express exasperation at the Japanese delay in fullling undertakings to restore normal Shirping movements on the Yangize as soon as the mili- tary situation permitted, Reu- ter learns.
For many weeks past the Japan-
SATURDAY, NOVEMBER 26, 1938.
PAYNE & CO.
COMMODITY, BROKERS STOCK EXCHANGE BUILDING
HONG KONG
COMMODITY MARKET REVIEW
(FROM PAYNE &" CQ.)
New York, November 24.
SINGAPORE RUBBER
Nov. 24 buyers sellers
CLOSED
Change
Nov. 23
SPOT
buyers 27
sellers
1
JAN.-MARCH
27-1/4 27-1/2 27-3/4
A wide range of British products,
It is pointed out that Hanków | APRIL-JUNE was captured long ago, and hos- Lilities have now moved some 200
alles up-river.
27-3/4... 23
Market closed.
LONDON RUBBER
Previous close buyers Jellera
To-day's close buyers 7-15/16 8-1/18 7-15/18 8-1/18 8. "
8 8-1/8
8-1/8 8-1/18 8-3/18 8-1/8 8-3/18 8-1/8 8-1/4 8-3/18 8-1/4
sellers
Change
unch.
unch:
up 1/16
"
up 1/16
Market quiet but steady.
NEW YORK COTTON
Market closed.
NEW YORK RUBBER
Market closed. .
CHICAGO WHEAT
Market closed.
to decorative and utility, household ese have been advertising sailings of three months, at the end which they expected
the goods, will be assembled in 1939, of Japanese vessels on the Yang-
JAN-MARCH poaltion will have improved.
These goods are so arranged, trade tze, carrying both freight and SPOT
passengers Accordingly, a meeting of deal-by trade and group by group, that
It is further asserted that despite APRIL-JUNE ers has been convened for Tues buyers from home and overseas assurances not to interfere with JULY-SEPT. day to discuss the situation.
visiting the three great exhibitioni
the rights and interests of other building can make their compari-
nationals, Japan is placing impedí- sons and selections with maximum ments in the way of foreign trade ease and certainty.
in other parts of China, notably Tientsin, where there is not Cven the excuse of military open- tions to justify the action.
GREATER ·
Next year, the display of textiles at Earls Court will be even more Ingeniously planned than in the
TAXATION
IN JAPAN past. The centre avenue at Earls
Analyzing the statement of Mr. Seihin Ikeda, the Finance Minister, following the publica-" tion of the Government's state- ment, the Asahi Shimbun" predicts that another increase in taxation will be inevitable next year in order to meet the budget deficit of the 1939-40 fiscal year.
Court will lead to an archway forming the entrance. to the Tex-
at
י י י י
JAPANESE RESTRICTIONS Mr. A. C. Moreing asked in the tiles Section from which corridors House of Commons yesterday whe will radiate, left and right, to cot-ther the Prime Minister was in- ton, rayon, and alk: linen; wool: 1ormed of the intention of the to impose furnishing textiles and made-up Japanese authorities soft furnishings:
and extensive Import restrictions in. children's made-up wear.
Chinese ports, analogous to those and
recently imposed in Japan. men's made-up wear.
Mr. R. A. Butler, Under-Secre-
women's
EMPIRE SECTION
DECEMBER
Close
WINNIPEG WHEAT
58 1/2-5/8
Opening" Closing 58-3/8-1/2:58 1/2-5/8 Bİ 1/4-1/4- 61 1/4-1/4
..December:
61 3/8--1/2 82 1/3-1/8 High 58-5/8
Also, at Earls Court will be the ury, ceplied that Lord Halifax was The leading Tokyo newspaper displays of the Empire Section, the th communication with the British MAY over the JULY states that the Finance Ministry foodstuffs and furniture trades, the Ambassador. in Tokyo
section being the matter.---Reuter. apparently is contemplating an-ast named other increase in taration to the largest single section in the Fair.. extent at least suficient to cover the interest on the "China Incident Bonds.". which have been floated in order to finance the China
-
MARSMAN PAYS DIVIDEND
Olympia will house the "lighter" manufactured goods. including pottery and glasa, fancy goods, toys
The local registrar of Marsman and games, chemicals and drug- gists' sundries. selentine and op- Investments. Ltd, has received a tical instruments, cutlery. jewellery notification that the Board of and electro plate, leather goods. Directors have resolved that the Company pay an interim dividend Incidentally, the opinion is gain-stationery and sports goods.
NEW YORK.cident
Interest Bates on Application.
SAFE DEPOSIT BOXES
FINANCIAL BALANCE
An American Bank offering com- plete Foreign Banking Service in the principal Markets of ing strength that increased taxa- the world.
tion will be necessary partly from the viewpoint of social policy to maintain anindal bance De- tween those who make exceki pro- fits, thanks to the prosperity of the munitions industry, and those who sacrificed occupations through the strict economic control and partly as a precautionary measure against harmful inflation.
This Bank is entirely owned by THE CHASE NATIONAL HANE, NEW YORK, with Resources over 1.8. $2,500,000,000.
D. M. BIGGÅR,
Manager.
BANK OF CHINA
Low
Change unch.
1/8 off
62-62 1/8
1/8 of
58-3/8
N. Y. Commodity Market
(By Courtesy of Messrs. Swan, Culbertson & Frite and S. L. Levy & Company)
In Birmingham, in what is be-lof 74 per cent. payable on Decem
New York, November 23. leved to be the largest single-floor ber 15 to shareholders of record exhibition building in the world,nn November 20.
New York Cotton - Dec. the various exhibits are grouped
New York Rubber -- Déc under the following heads: hard- every corner of the world. Bome
- Dec. ware, building, gas, electricity and 13,000 copies of the famous BIF.Chicago Wheat
poster (printed in English, French, Chicago Corn engineering.
German, Swedish, Dutch, Italian, Winnipeg Wheat Portuguese, Spanish and Danish) will be circulated in 91 countries.
Actual bookings for display space in the engineering and hardware Section at Birmingham are more forward than they were a year ago The "Asahi Shimbun "concludes, at this time, a remarkable fact that there is every indication that when it is remembered that in 1938 the Finance Minister is favourably more than 304,000 sq. ft. of space moved relative the plan for in were occupied at Castle Bromwich. a record ngure for this section of creased taxation. Judging. from the
the Fair. statement, In which he declared that there is Httle hope of lighten-
present time.
B.L.F. POSTERS
All
This year for the first time, folders in Arabic will be printed for use in Iraq. Egypt. Mörecço and December elsewhere, and folders in both January (1939) Arabic and Hebrew will be cir-March culated in Palestine.
May
(} Officers of the Commercial Diplo-July. matic and Consular Services, and October ( The sections of the British In- H: M. Trade Commissioners, and spot THE NATIONAL GOVERNMENTg the national tax burden at the dustries Fair which are held in the Imperial Trade Correspondents
Specially Chartered by
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 Officer:
and Exchange business transacted. CANTON Loans
on granted
securities.
approved SWATOW
SHIUCHOW
Current Accounts opened in Local
KONGMOON
TOISHAN KINGCHOW
We also handle the issue of
Currency and Fixed Deposits re- Bunds and other Public Funds of ceived for one year or shorter the Chinese Government both at periode in Local and Foreign Cur rencies on terms which will be Home and Abroad.
qucted on application.
Safe Deposit Boxes To Let .
KAN TONG PO, ··
biel Manager. {
THE MERCANTILE BANK OF INDIA, LIMITED
SHOU. J. CHEN,
Manager.
U.S. SILVER . IMPORTS Imports of allver into the United ended States during the week November 11 was valued at $15.828.
000. compared with $1,048,000 the previous week and $5,754,000 two weeks previously.
The main sources were:—" France, $4,300,000.
Malta Gozo and Cyprus, $2,000. United Kingdom, $10,654,000. Canada, $130,000.
Nicaragua. $1,000.
Mexico, $584,000.
Chile, $7,000
Peru, 3102,000
Japan, $21,000.
Philippines, $20,000.
London are organized by the De- throughout the world keep close partment of Overseas Trade, and, i touch with overseas buyers, direct
at Birmingham. by the Biriulng-the poster and the other varied December ham Chamber of Commerce work-publicity campaigns in their areas. March (1939) ing in close collaboration with the and are at all times ready to give May.......
advice and information relating to September Department.,
News of the Fair la carried to the Fair.
WIDER USE OF PUPPET NOTES
ANGLO-RUMANIAN TRADE LOAN
Bucharest, Nov. 25.
Prev. To-day's High Low Close Close Change 8.72 8.64 8.71. 8.66 :05 of 15.07.15.95 15.98/98 15.90b 08 off
62 621
621 off 471 48. 481 471
3. up 58 577 58 584
up
621
Dec. Dec.
NEW YORK COTTON
Close
Opening
Closing
Change
8.71/72
8.72/72
8.66/86
.05 off
8 57/57
8.58/56
8.51/51
.06 ok
8.51/52
8.52/52
8.46/46
.05 off
8.33/33
8.31/31
8.26/26
.07 Dit
8:11/11
8.10/10
8.05/05
.06 off
}
7.81/81
7.79/78
7.75/75
.06 off
9.11 N
9.08 N
.05 off
NEW YORK RUBBER
15.98/98 16.03/03
15.90b/93a
.08 off
15:95/98
16.07/03
15.00/94
.00 of
15;97/97 16.03b/10a
15.90/92
07. off
October
15.99 b 18.00 15.99
15,91 B
.68 off
15.92 N
07 of
Sales for the day:---
3,650 tom
CHICAGO WHEAT
621/621
-821/621
621/621
off
651/651
651/851
851/651
unch...
-
051/651
651/851
up
Tuesday's Sales:-
9,522,000 bushels
CHICAGO CORN
461/461
481/461
471/47
501/501
501/502
512/511
51/51)
524/521
WINNIPEG WHEAT
58/58
58/571
531/581
611/011 613/011
621/621
December
The Rumanian Economics Min-May......
ADVOCATED ister, M. Constant Inescu, will July
shortly go to London to conclude the negotiations, already in pro- gress for the arrangement of a £25,000,000 loan, reports the news- paper "Curentul". This credit is December Intended to serve the promotion of May Anglo-Rumanían trade. Trans. July
Shanghal, Nov. 23 Replacement of Chinese na- tional currency by the new bank notes issued by the "Federal Reserve Bank" of Pel- ping was advocated to-day' 'at the tripartite economic con-ocean. ference hers by Mr. 8 Yoshida, chairman of the Shanghai Japanese Chamber of Com- merce, according to a Japanese report from Tokyo. Foreign co-operation "abould be Kunming, Nov. 25 sought in connection with the cir-
Turkey. $5,000,
SILK REVIVALA.
IN YUNNAN
A three-year for the revial culation of, the new notes. Mr.
of Yunnan's silk industry has Yoshida is reported to have said- been drawn up by the Yunnan Reuter. Reconstruction. Department.
It is expected that after three
MILITARY NOTES
Shanghai, NOT. 25
STRANGULATION OF HONGKONG The Board of Trade and the Foreign Office are inundated with Inquiries about the position of years the province will yield from Over 30,000,000 Yen of Japan- Head Office:-15, Gracechurch Street, Hongkong
the Japanese 7,000 to 10.000 piculs of raw silkese military notes are being circu- London, E-03
taptured Canton and severed the approximately valued at $10,000, tated in the occupied areas 27,000
to e railway running
Central China, and they will be 21,050,000
the "Daily €1,217, states
Manchester.
Authorised 'Capital
Tabweribed Cypital is
Paid-sp Capitál
Reserve Food and Rest,
BANKERS:
The Bank of England and Midiang
Bangkok
--Bomber
1. Colonia
Colawah
Delhi
Bank, Ltd. BRANCHES:
Ipob Xantes Handy
Kararli Kota Bhar
Kanin tipis
Men
Penning
Rangona
Ma York
Shangha
Bimin
Singapor
since
Kowloon, Dispatch,"
No direct attack by Japanese on the Colony is ap-' prehended, but the economic strangulation is
creating
000
of
European and American |--International--
goods. December
July
ECONOMIC "COUNCIL
Changking, Nov. 25 Flana to exclude European and American trade In- fluence In China figured pro- -minently in the first conven-, tion of the Japan-Manchu- "kuo-China Economic Council which was concluded last night at Tokyo, according to reports reaching here. Representatives of the
puppet Shanghai,
May
December March
814/611 613/613
NEW YORK HIDES: (New Contracts)
12.00 N 12.05b/10a 12.17/18 12.46/48 12.60/50
NEW YORK STRAITS TIN
12.55/55
December
45.80 b/45.00a-46.006/30a45.956/48.00% 42-3/4 NY 'Silver, Official NY-L'don Cross Rate... 4.66-3/8"
NEW PROVINCE IN SIKONG
Chungking. HÓT. ĐÃ
The Bikong special district, for-
42-3/4
4.65-3/16
FRENCH MINERS STRIKE WORK
A Sir Industry Revival Com circulated more widely in the nearregimes in Ranking/
according misaton has been created by the future,
to Chinese and Peiping are present at this to financial circles here.
convention, which took up such Reconstruction Department the
as, industry, Dnance,, Definite arrangements in the matters carry out the project-Central
matter have been reached between trade and transportation Japan- News
are officials of the Japanese military authorities ese delegates
DEMEIN, Nov, 25. Twenty-five thousand, miners in menacing situation to British KWANGTUNG BANK and the puppet regimes, it is the Konoye Cabinet
The Council is to meet from! with the stated. All RTERS, Interests and to some
Osaka, merly known to Inner Tubet," the Valenciennes district have AT KWANGCHOUWAN exception of the 000,000 of British capital
International time to time in Tokyo,
and Changchun, the and situated between Szechuan and called a strike for to-day to demon- Almost the whole of the Bouth The head once of the Kwang Settlement and the French Con-Fukuoka China hinterland is now in Jap tung Provincial Bank is to be cession of Shangbal, will use main objective Being Japanese Tibet will become a regular pro-strate the solidarity of the motel
hands and Hongkong established; te Kwangchqywan military notes as official currency economic control of the occu- vince on New Year Day, according workers,
Dr. T.C. Edo, poesident of the instead of the legal tender notes, pied areas where dumping is to to an official announcement by Mobile guards began to with
draw this evening following an trade la at the mercy of the in-
the Chinese Government, R the negotiation Bank, now proce
to and all Chinese will be obliged begin on a bigger scale, Even
The Chinese press is urging the agreement under which the police TRUSTEE ÄND EXECUTORSHIP vaders.
to to change their legal tender The council is controlled by the of a truce in, the war, which the Linhsten to make UNDERTAKEN,^
nesa, zolitary notes, Central Commission in Tokyo transportation of refugees from and mobile guards are to retire as her heme Intended to upset of which Mr. Okinori Kaya, the various war areas to the new long as she strikers cease blocking, "the": "Chinese i kuffency ko, sinid=ato||formier Finance: Minister, is Bikong province for land reclama-the road and qvacuate the forges
Bong hoog
#le
Bowsh
Kenia Luwpar Kunle Trengganu
HONGKONG BRANCH.
Every descripim të Banking, and Bachangebe aufa cremated.
Travailser Choques lamed., -
GUERNET ACCOUNT Opsed in Local Our British Ambassador is understood Governor Wu Te then, He has lost notes for Thy 33 FREE DEPOT red in Lom to be attempting, would alleviate returned from Kwang where 10 Cupancy, STERLING, EU,A,DILARU on teczka
chamayosrtalvad de appllomásom..
only partly the precarious out met the financial author D. BENBON,
the Central Government.
Kisament,
Chinese?
purchase of
Chairman
Hon projects-Reuter.
Router