PAGE 12–HONGKONG DAILY PRESS
BANKS
HONGKONG AND
SHANGHAI BANKING
CORPORATION
Authorised Capital $56,000,000
THE CHARTERED
BANK OF INDIA, AUSTRALIA &
CHINA
Issued & Fully Paid-I'p $20,000,000 | Incorporated by Royal, Charter, 1856 Reserva Funds:
Sterling,500,000 } A.K. Currency Réserve $10,000,000 | Reserve Liability of
Proprietors
HEAD OFFICE: LONDON:
38. Bishopsgate E.C.2. ·
..$20,000,000 ( Paid-up Capital ......... £3,000,000
Head Offer: HONG KONG
Board of Directors,
T. E. Pearce, Esq., Chairman.“
Hon Mr. 1. J. Paterson,
"
.. Deputy Chairana.
J. K. Bousfeld. Esq..
A. H. Compton, Esq.,
Hon. Mr. S. H. Dodwell,
WII. Lock, Esq..
G. Miskin, Esq.,
K. A. Morrison, Esq.,
Han. Mr. A. L. Shields,
H: V. Wilkinson, Esq.,
Reserve Fund
Reserve" Llability of Pro- prietors....
£3,000,000
£3,000,000
MANCHESTER BRANCH: 71, Mosley Street, Manchester.
Sir Vandeleur M. Graybura,
Chief Manager, CAWNTORE
НАМОБОК
BATAVIA
BOMBAY
CALCUTTA UANTON
KUALA
CEBU
KUCHING
Antoy
Branches! Ipoh
Peachg
COLOMRO TELUI
MADRAS
AGENCIES AND BRANCHES,
ALOR STAR HONG KONG PENANG AMRITSAR ILOILO
RINGUON IPD#
SAIGON KARACHI SECSMBAN KLANG
SHANGHAI KOBE
SINGAPORS KITIAWAN JOURABAYA TAIPING TIENTSIN TONGKAR
LUMPUR
Bangkok
Johore
Rangoon
Batavia
Kobe
Haigen
Bornhny.
Kowloon
San
Calcutta
Kuala
• HAIPHONG KAMBURO RANKOW HARBIN
MANILA MEDAN SEW YORK PRIPING
(Peking)
Cantor
Chefou
Culomb
Francisco
Lumpar Shanghai
London Singapore Lyons Sourabaya Dairen Malaccu Sungei Fonchow Manila Patani Baiphong Muar Swatow Hamburg (Johare) Tientsin Hankow Mukden Tokyo" Harbin New York Tsingtas Hongkew.. Pripite Yokohama
Iloilo
opened
in
Current Accounts Local Currency and Fixed Deposita) received for one year or shorter periods in. Local and other Cur- rencies on terms which will be quoted on application.
As 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 Rules may be ob tained on application.
For the Emio Kong & Shanghai BANKING CORPORATION.
V. M. Grayburn,
Chief Manager. Hong Kong. 7th October, 1938.
BANK OF EAST ASIA. LIMITED.
Authorised Ospital ...$10.000,000.00 || Paid-up Capital
5,803,800.00 Reserve and Undivided.
Profits
..."
2,776,720.76
flead (Mice:-HONG KONG
No. 10, Des Voeux Road, Central
է:
Board of Directors:
Bir Souson Chow, Chairmau Li Koon Chun, Eaq. Lf Lan Sang, Esq. K. Kwok, Req. WingChuson, Esq. Wong Yua Tong, Baq, Ending PoE ChanChingShok, Esq. FungPingWah Esq.
Kau Tong Po, Esq., Chief Massger. Life-Poor, Baq? Manager.
Amor
Tramales and Apompino :---
Kowloos Penske Boxabays London Rangoon Swato
SaXERD- Tahoky
Manila
Vom Nagasaka
Bombay
Clinton Hipbong New-York Beaitis Tokyo Haako Kosolaiz
Ovaka Paris
Pulping
Salizon Bydwy
Teatalo
Bemarang Vancouver Shangbel Yokohama Blagaporn
(Bhuket)
TSINGTAO YOKOHAMA
FOREIGN EXCHANGE and General Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter perioda at rates which will be quoted on application,
in
The Bank's Head Office 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
1. QUEEN'S ROAD CENTRAL
HEAD OFFICE:
18, PINE STREET,
NEW YORK
AR American Bank offering com
plete Foreign Banking Service in the principal Markets of the world. Interest Rates ou Application.
SAFE DEPOSIT BOXES
This Bank is entirely owned by THE CHABF NATIONAL BANK, NEW YORK, with Resources over 1.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
Finance and Commerce
"AUSTRALIA'S DESERT
DAM PROJECT
£30,000,000 Scheme For Irrigating Queensland
"Australia's greatest engineer, Mr. J. J. C. Bradfield, who built the famous Sydney Harbour Bridge and several other important en- gineering feats, has turned his attention to a £30,000.900 system of dams, canals and aqueducts which will carry the water from the 'rain-soaked, deeply forested coast districts of Queensland into, the
arid interior
"
NEW MOTORSHIP FOR FAR EAST
SERVICE
In the spring. Hongkong will see the latest addition to the Swedish Enst Asiatic Com- pany's fleet of motor vessels. the 12.000-ton freight and passenger carrier Kina. The vessel, which was launched at Nakskov Shipyards. Denmark, on November 3 by Her Majesty Queen Alexandrine, will be placed
on the Europe-Far Eastern route. Mr. Bradfield explains that a ventent point in the foot-hills of Both the King and Queer of
mountain great dividing line of mountains the
range. There Denmark Were presenz at the spilts the State in hair. The coast tunnel would be driven through launching ceremony, in the Danish ine is well watered and fertile the range and the water reserves island town The Queen named with swift-flowing rivers tumbling, carried to the interior."
the ship Kina, which is the Danish into the sea. The waterless, inland It is estimated that some 14.000, word for China. The owners were side is crossed only by two slow-000 tons.of water. at present rug-represented by the senior director, moving and shallow rivers,
ning wastefully into the Pacific. H.RH Prince Axel, and several The State of Queensland consists could be put to work Irrigating the other members of the board of of 670.000 square milles of which 23 Interior. Financially. the scheme directors and management, per cent, is unoccupied To à large would be sell-supporting. It would extent these figures are due to enable 20,000,000 additional sheep. The Kina is a diesel motorship the dreaded droughts with which to be grazed in the interior, would like all other vessels of the Swedish Queensland is plagued. So parch- provide about 1.000.000 h.p. nf East Astatic Co. which in 1911 in ed become areas in the State that potential hydro-electric power. as many as 5,000,000 sheep' have known to perish in a single year. It is estimated that the State would be able to support ten times its present population,
15
LOSSES SAVED Queensland's stock raisers wouls about £2,590.000 worth of stock save their yearly drought losses of
annually.
INTRODUCED MOTORSHIP
troduced in. Its service the first ocean-going motorship ever built, the m.v. Selandia.
The King is 508 feet long, has
35-foot beam and a deadweight ut 12.000 tons. The engine is a Bur- Queensland's Premier, Mr. W. Fmeister and Wain diesel motor of DAM THREE RIVERS Bradfield proposes. to dam the Smith, is particularly impressed by 10,400 Indicated horsepower, and three coastal rivers. Tully Herbertine scheme, and is considering the the loaded speed will be 18 knots. and Burdekin. The water
thus appropriation of sufficient funds to The ship is provided with every held back would be diverted along make a preliminary survey of the modern feature for efficient han-
reek-beds and canals to a con- project.
dling of cargo, and will be equip- 'ped with comfortable accommoda tion for 12 passengers.
SODA PLANTS FOR MANCHURIA
In order to meet the growing demand in Manchuria for soda, caustic soda, chlorine, bleaching powder, etc., the Manchurian Soda Industry Company has decided on the Immediate constructing of three new factories and eventually a fourth
CAPITALISING ON MUNICH
HOPES OF BRITISH
"BIG BUSINESS": now`British business circles hope to capitalise the Munich Agreement, in spite of the les- sons they have had in the past, 25 revealed by information trom a high source in London, states "The Forum"(Johan- nesburg).
The vessel is expected to proceed on her maiden voyage in the beginning of 1939 when she will be placed on the Europe-China-Japan run, and will make Hongkong a regular port of call.
LOAN POSITION PRECARIOUS Nobody will grudge the £30.000. udu we propose to advance to the Czechs; even the briefest Euro- pear war must have cost us more than that. Yet the international loan position is precarious, says the The theory is that once a settle-Nottingham Guardians a ment has been arrived at-with During the last two centuries
WEDNESDAY, NOVEMBER 30, 1938
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONG KONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
SINGAPORE RUBBER
Nov. 26
buyers sellers
27-1/4
Nov. 28 buyers sellers
Change
off 1/4
27-1/2
27
27-1/4
27-1/2 27-3/4 27-3/4" 28
off 1/4
DIT 1/4
"SPOT
JAN-MARCH
27-3/4 28. APRIL-JUNE
28
28-1/4. The market opened 1/2 of a cent lower for all deliveries as com- pared with Saturday's closing rates.
In response to conditions prevailing in New York the market dis- played an easy undertone after the opening. Demand for "actuals" wful whilst speculators preferred to maintain side-line positions in view of the steadily "declining London-New York cross-rate which is exercising an unfavourable influence on the market. But it is 23- sumed that the upward trend of the market will be resumed on the strengthening of Sterling, provided that absorption of Crude-Rubber will show further satisfactory progress.
N
Later in the session prices registered an advance of 1/8 cent for all deliveries on some fair trade-buying.
Closing tone was quiet,
SPOT JAN.-MARCH APRIL-JUNE JULY-SEPT.
LONDON RUBBER
Previous close
To-day's close
buyers
8
sellers buyers 8-1/16 7-7/8 8 8-1/18 8-1/8 7-15/16 8-1/16 8-1/8 8-3/16 8-1/16 B-1/8 8-3/16 8-1/4
8-3/18
sellers
Change
of 1/8
of: 1/8
at 1/16
8-1/8
of 1/16
Market irregular. Rubber stocks beld in the United Kingdom showed a decrease of 597 tons for the week ending November 28, 1938...
NEW YORK COTTON
The market opened lower, on unfavourable Liverpool and Bombay cables and further declined on liquidation and professional selling. Later: there was a partial rally on dealer. buying, but the market then again declined on the easiness on Wall Street and on renewed liquidation.
NEW YORK RUBBER
*Prices were steady in the early part of the session and the mur- ket advanced on commission-house enquiry and scarcity of offerings, Later, however the slump on Wall Street and unfavourable European news depressed general sentiment and prices declined on liquidation, to close steady.
CHICAGO WHEAT
The largest of the first three fac- torfes is to be built at Kalyun, on the railway line from Mukden to Hsinking. It will produce about 5,000 tons a year and deliver prin- cipally to a neighbouring factory that makes cellulose from soya Gemany (the return of Togoland John Bull has loaned foreigners bean husks.
and the Cameroons to Germany is about £2,000,000,000. Russia still Prices moved within a narrow range, with firm overseas markets. The second largest plant, with a the price) Britain and Germany owes us £887,000,000. During the year. capacity of 2,600 tons, will be can set about settling the world's early years of the Great War we fit-taking and liquidation. principally of December position.
some new buying and good export demand being partly offset by pro- at Tumen and cater for the needs troubles and then divide the loaned well over £1,000,000,000 to of a cellulose factory nearby in world's trade between themselves, different Allled countries, France's this woodland, district. The third
These tactics have been tried be-abare being £750,000.000
and f
will be at Mukden; its yearly out-fore. When Japan was given a free Italy's £250,000,000. put of 2,300 tons will go to the hand in Manchuria it was big Since the war we have lent Aus- general market.
British financial Interests that were tria £8,000,000, Poland £4,000,000. The "fourth, the construction of
largely responsible, in the hope Rumania £2,000,000, and other which is contemplated at some
that they would get a share of the small countries £3,000,000 between time in the future, will probably loot. Actually British ou interests them. But the most remarkable be built at Yingkow in drder even-
British trade in the Far East has country's partial payments of War were booted out of Manchuria and fact of all concerns Germany. That
suffered severely.
Indemnity, it is calculated, fall short by £300,000,000 of the suma she has been loaned by the "vic: tors."
tually to supply the factory being set up there for the production of cellulose from sedge.
The total cost of the project is estimated at 4,000,000 yuan: The Manchurian Böda Industry Com-1 pany has decided to increase its
FIRST THROUGH
in China and connections in the capital for this purpose. 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; i 4, QUEEN'S ROAD, 0. South China Offices:
Every description of Banking | CANTON and Exchange business transacted, SWATOW Loans granted " on **pproved | SHIUCHOW securities.
KONGMOON TOISHAN KINGCHOW.
TRAIN
COMMON SENSE IN INTERNATIONAL ECONOMY--
London,
Nov:
29
The American Ambassador, Mr. Joseph P. Kennedy, speaking at
N. Y. Commodity Market
Prev. To-day's
Low Close Close Change
(By Courtesy of Messrs. Swan, "Culbertson & Frite and 8. L. Levy & Company)
New York, November 28
New York Cotton - Dec. New York Rubber Chicago Wheat
High
8.68
Dec.
15.72
Dee
Winnipeg Wheat
UNFAIR TRANSPORT.Chicago Corn **
TREATMENT
London. Nov. 29
In the House of Commons yes-
a meeting of the American Cham-terday, Mr. R. A. Butler. Under-
described the trade agree-
Secretary for Foreign Affairs, de clared that he had no
informa- December
The first through Kiangs!-Hunan-ber of Commerce. Kwangst train was run on the Anglo-American Cheklang-Klangs Raliway on the ment as "the rebirth of common tion but was making Inquiries January (1938)
יי
economy
night of November 13. It started sense in international
when he was asked whether he March ( from Nanchang and arrived in and the first major step towards was aware that British merchants May .. } Kwellin capital of Kwangsi, on economic disarmament."
desiring to send export goods to July (..) November 18,
Tientsin from Mr. Kennedy. added. “Dur im-
the Interior of October () The early completion of this mediate almis may not always China had to negotiate for rail- Spot Current Accounts opened in Local Bonds and other Public Funds of needs, indicates the "quick resusel-trade agreement will prove
We also handle the issue of railway line to serve China's war) be identical but I
believe the WAY transport with monopoly Currency and Fixed Deposits the Chinese Government both at tation of China's reconstructive be the keystone of the economic anese control, that unfair dis- to transport companies under Jap- ceived for one year or shorter periods in Local and Foreign Cur- Home and Abroad.
the December structure in which we may share crimination was" exercised In
allocation of space for cargo and more trading room in
what steps the Government was May Reuter...
taking to secure proper treat- September.
rencias on terms which will be
-quoted on application. 7:
Safe Deposit Boxes To Let.
KAN TONG PO,
Chief Manager.
THE MERCANTILE BANK OF INDIA, LIMITED
Head Ofco:-15, Gracechurch
London, EC3. Authorised spifal Subsorbend, GaMENT ́. ---Paid:dp ́Ospitale je
Steuervo: Past and Blesk.
BANKERS:
SHOU J. CHEN,
Manager
FULL COMPENSATION
AND WAR RISK
London, NOT, 29 Addressing the Insurance." In- stitute of London, the Minister
of Health, Mr. Walter Elliot, drew attention to the dinculties Street, in the way of the scheme of in- surance against war risks. £1,80-1,000 He said it was a subject to
17,830 which the Government was
gly-
23.005,000
£1,060,com
The Bank of England and Midland
efforts
MEXICO STAYS EXPROPRIATION
Mexico City, Nov. 29. The Second District Court --of- Mexico has granted definite stay of execution in an injunction by the Compania Petroleo Mercedes and the "Com- pania Petrolera Titania. The companies opposed the taking
case
filed
common.
CHINA'S OCTOBER FOREIGN TRADE
According to the monthly re- December turns Isstied by the Chinese..Mari- May time. Customs covering foreign July trade of this country, set Imports
· 8.60 8.69 8.63 .06' off 15.48 15.52b 15.48 .04 off 52 61% 617 611 up. Dec.
484 471 47# 47+ Dec.
581 501 581
NEW YORK COTTON
.....
off
581
* up
Close
Opening Closing
Change
8.69/70
8.83/84
:08 off
8.49/49
8.44/44
.05 off
8.45/47
8.41/42
04 of
8.25/28
Unreceived 8,21/21
.04 off
8.02/03
7.98/97
.00 off
770/10
7.66/66
104 QI
0.04 N
3ྋལ་
.08 of
NEW YORK RUBBER
15.525/624
16.48/50
04 of
March (1939)
15.58b/Gla
15.53/54
.05 off
15.65b/7la Unreceived 15.55/59 15.74/78 15.72b/800 ::
10 of
15.83 B
11. of
15.04 B
08 Off
'
Sales for the day:--
4,200 tons
CHICAGO WHEAT
811/01) 641/65 651/651
611/811
Unreceived 85/641
651/65/
CHICAGO COEN
477/479
514/511
-521/521
471/471 Unreceived $11/511
52/521
off
off
WINNIPEG WHEAT
December
581/584
May
July
613/011 62/621
587/561 Unreceived 011/811
621/621
NEW YORK HIDES: (New Contracts?
11.86 N
10.85 N
12.28/20
11.42 N
December.
NY Silver, Official
NEW YORK 'STRAITS. TIN
45.70b/75a 42-3/4 NY-L'don Cross Rate... 4.82-15/16....
45.40b;70% 42-3/4 4.85-5/18
PORT AND SHERRYment for British traders-Reuter. October
· HAVE GOOD YEAR
Reports on the 1938 vintage lo' the whe-growing countries reveal that there will be little. burgundy and that champagne will be only average in quality. The prospects for champagne during October 1938, totalled $78, possession of their concessions were good until July, but, the wet 040,915, Net Exports totalled $76. and materials under the General weather which followed retarded 113,657. January October figures December Expropriation Decree of Maren ripening of 'the grapes. In the wore $730,722,005 and $838,009,325 May 18 by agents of the National Burgundy district the grape crop respectively, as compared with the July Ing much thought and a state- Economy Department at Monterey was much below average. Bearcely corresponding figures last year of ment would be made at an early city and Reynosa: date by the Chancellor of
any red and very little white wine $856,094,683, and $732,756.914. The Court. at the same Exchequer."
time will be made, federa ordered the return to the A contingency of this kind was
Com-On the other hand, there will be quite outalde the scope of in-pania Titania of all material good vintages of Bordeaux Wines taken front, fte Rio Bravo proper and sherry. The Bordeaux Fines normally under-
qanth. Sutotal were not greatly affected by fists. Bimmic stood. that
ty.-Reuter is to say.
In order to facilitate intend Sagapore the system of *graduat
and reports from Spain Indicate transportation, the Ministry of HONGKONG BRANCH. ed premiums carrying with them JAPANESE - COLLECT that the crop at Jerez was heavier Economic Affairs has appropriated Brodariplum of Baqking' set, Kxchange right to full compensation. Fu
and was harvested under excellent large sums of money for the in- December SCRAP IRON compen- compensation implied
conditiona
provement of ten waterways in March Trumpilers Chequeme lajmead, TRUSTEE AND EXECUTORSHIP Bation in goods, not in paper, Lungmoon, Kwangtung, Noy. 29° ́) There is a prospect of good Hunan. Kwangsi," Szecimen and
Bcrap trợn is being collected by quality port wines, with prices at Kwelchow, TASAN UNDERTAKEN, and no one could say whether GURERIT 400DUSTS opened in Leral Our-sufficient goods would be available the Japanee in areas in Kwang-about the same level as for 1937. These include the Blang and 211AT ARE FIXED DEPOSITS repeived in 'Local ONTEREY, BERRIANE & U.3. DobLARS on terms for the full replacement which tung now under occupation The The Madeira grape harvest was Yuan Rivers, Human: the Kwel Chak may ? meertaibed adi appliostien, z such insurance. Implied. British scrap is shipped back to Japan-smaller though the quality of the Pe Rivers, Bzcmbién:" and the
Wireless.
Central News.
| Tsingsbul River, Hweichow,
Bombay
Calomke
Hongkong
Bank, Ltd. BRANCHES:
Ipoh Kantau
Kandy
Harachi
Hota Bharu
"Kosla Lipis
Eels Lumpur
/Kuala Penggara
Kadran
Now York
PRIY FangDon
Huangha
: : :
D. SENSON,
Honger.
surance as
the
wine is good.
RIVER NAVIGATION
HELPED
៩៩៩