HONG KONG DAILY PRESS
Finance and Commerce
CHINA DESIRES TO PAY ANGLO-GERMAN
ALL OBLIGATIONS
·
Ready To Consider Any
Fair Arrangement
CHUNGKING, Jan. 19 (Reuter)-China wants to pay all her ob- ligations and is ready to consider any fair arrangement to that end, declared a spokesman of the Finance Ministry in connection with the announcement that China would no longer service the Customs bul would apportion revenue from the Customs. He emphalized, however, "that in the first Japanese-occupied areas place, the share attributable to the should be forthcoming, and secondly, that interference with Chi- nese currency should cease.
Hans
oll
N
The spokesman affirmed that Both the Briush and U.S. Boxer China had no intention of declar Indemnity Funds are to be paid ing a moratorium
TRADE
Discussions Taking Place Soon
LONDON, Jan. 19 (BWS)-The
FINANCE
WORLD COTTON CONFERENCE PROSPECTS
WASHINGTON, Jan. 19 (Reuter) According to Mr. Henry A. Wallace. Secretary for Agriculture, the Adminis- tration is tentatively consider- ing an international conference of the cotton-growing nations on how to dispose of surplas colton stocks.
cotton Senators.
This statement was made follow- Grand Council of the Federationing a White House conference 6 British Industries yesterday re- which Senator Bankhead arranged ceived a report from its Director, infter the inconclusive meeting of Mr. Guy Locock, regarding in- formal conversations held before Christmas with representatives of the German Reichsgruppe Indus- trie regarding Anglo-German trade the question of relations and competition between the two coun- tries in third country markets, es- Pecially in south-eastern Europe.
The Grand Council has approv up by 1948. The, monthly payed the suggestion that official dis- ments for the years from 1941 to cussions should take place be- 145 are much less than those at tween the two organizations with a view to tacilitating negotiations between Individuaj "Industries In Germany and Great Britain on these subjects.
STATISTICAL DATA | CHUNGKING. Jan. 19 (Central) | present. Statistical data were quoted by a spokesman of the Ministry of Finance to substantiate the pea- sons why the Chinese Government discontinued the practice of ad- vancing funds from the Central Bank of China for servicing loans secured on Customs revenue in the
enurse of a press interview vester
day,
According to the spokesman, the
total
CUSTOMS REVENUE The total Customs revenue for 1938 amounts to approximately $254.570,000 (Chinese currency), or an average of $22.000.000 monthly It is difcult t calculate the exact amount of revenue collected
in the war, areas on account of the
The Relchsgruppe Industrie has been informed, and arrangements are being considered for ari early meeting between the two bodies.
RAUB. QUARTERLY
STATEMENT
as follows.***
BATTERY Tonnage of Ore raised, 18,853
No. of Ounces of Bullion pro- 'duced, 5,929.33 ounces.
incompleteness of reports after the. detention of Customs receipts by Customs-secuted long-term Japanese. But generally speaking. i The Raub Australian Gold Sin- loans, calculated according to the four-fths of the total Customs ing Company's statement for the government exchange rate. amount revenue is under present circyms- quarter ended December 3, 1938 is tr approximately $2,500,000,000. tances collected in the war areas. These are in the following three This does not include Customs re- categories $600,000,000 loans "in venue collected in the northeast- foreign. currency. $100,000,000 ern provinces, seized by the Japan-tons. Boxer Indemnity Funds. and ese since the Mukden Incident. $1,800,000,000 in Chinese currency.
Payments due in 1939 in- clude approximately $1,000,000- for loans in foreign currency. $3.000.000 for the Boxer In- demnity Funds, and $18,000,000 for loans in Chinese currency The monthly payment for the British "Boxer Indemnity Fund for the current year amounts to £50, 000, while that for the US. Boxer Indemnity Fund U.S. $160.000.
16
H. K. STOCK EXCHANGE
1:
According to Customs statis- iles for 1936, 45.9 per cent of the Customs revenue was cof- lected In Shanghai, 10.9 per ren. In Tientsin, 7.3 per cent. In Hankow, 6.3 per cent. in Tsingtao, and 3.4 per cent. in Canton,
No. of Ounces of Fine Gold re- covered. 5,624 ounces.
RE-TREATMENT PLANT
No. of Tons treated. 22,883 tons. No. of Ounces of Bullion pro- duced. 3,625 ounces.
No. of Ounces of Fine Gold re-
יי
IL is estimated that the Cus-covered, 2,630 ounces.
revenue detained toms
by the
Value of Gold. from all sources. Japanese since the beginning off £60,982 Sterling. the Sino-Japanese hostilities in Working Costs, 34,028 Sterling. July. 1937 amounts to over $150. Capital Expenditure (special), nil. | 000,000 Chinese currency). The Mine Profit for Quarter (subject major portion of the Customs re-to Depreciation), £26.954 Sterling. venue detained and deposited by
the Japanese in the Yokohaina Specte. Bank is in Chinese cur- rancy, while the remaining portion is in bogus and Japanese currency. Jan. 19.
In general, the major part of the H.K. Banks in fair numbers were!
Customs revenue .collected traded in from $1385 down, to
Shanghat is in Chinese currency $1360. Unions of Canton came to business from #475 to $488, Real-while that in Tientsin in bogus ties at 15 and Trams at $17.00 currency. otherwise the market was quiet,
Buyers
H.K. Fire Insurance, $1.70.
H & 9. Hotels, 16.60. ELK, Realties, 25.40. HK. Tramways, $16.90; Macao Electrics, $171. Sandakan Lights, $10.10. H.K. Ropes, $4. Entertainmenta, $7. Maramans (HK). 2/3.
Sellers
Hongkong Bank, $1380, Union Insurance, $473. China Underwriters, 70 cta. HK. Fire Insurance, $200, Providents (014), $8. H. & B., Hotels, $6.85.. Peak Trams (Old), H. H.K. Electrics, 1671. Telephones (New), 28.45. Cements, $18.70. Watsons, 88.15.' Lane, Crawforda, $8. Constructions, $18. Maramans (IL K), 2/9.
Salex
Hongkong Bank, $1395/60. Union Insurance, 8475/468, H.K. Realties, $5,50
HK. Tramways, $17.00.- Philippine Mines
Antamoks; .49
Atoka, 301
Baguio Gold, .28
Benguet Consolidated, 13.90.
Coco Grove, .51
QUESTIONS ASKED
in
Asked whether the announce- ment issued by the Ministry of Finance on January 15 refers to loans secured on Customs revenue only or to all Chinese loans, the spokesman replied that it refers to Chinese loans secured on Customs revenue only.
ول
Questioned whether the Chi- nese Government is consider- ing similar measures regarding servicing of Chinese luans other than those secured on Customs revenue, the spokes- man said that this implies an- other issue and can not be an- swered now.
The spokesman was also asked whether the Chinese Government will. after the conclusion of hosti- ities, study measures for repaying loans the servicing of which has been temporarily suspended as a result of the announcement of the Ministry of Finance on Jamiary 15, He replied that there is great pos- sibility, but that negotiations will first have to be conducted.
The latter are expected to re- sume their discussions later this week
No decisions were reached at the White House conference except that cotton was a serious problem.
A New York message says that there, is mixed comment in rotten. circles regarding the prospective results of an international cotton conterence, with the majority not too sanguine.
3
Meanwhile, Mr. Wallace, at press conference. stated that he would welcome conferences with the officials of other countries, but he declined to say whether he would take the initiative. He sald there was considerable hope that. smar conterences on wheat and sugar will produce good results, and he felt the same would hold true for cotton.
FOREIGN "WORKERS
IN GERMANY
BERLIN. Jan 19 (T/Ocean)- Almost one and a half million foreign workers are engaged in
result Germany as
of the labour shortage, states Dr. Fried- rich Byrup. of the Reichs Mini- try of Labour. in the January number of the magazine, "Four Year Plan."
LONDON GOLD
London, Jan. 18. Bar Gold. Fine per oz., 148/71- Dollar Parity. 1d. premium.
-Reuter
TRANSPORT
OUR 54 MOTOR TRUCK & VANS
ARE
AT YOUR SERVICE
SINGLE PARCELS "ACCEPTED.
FOR DELIVERY
NOTHING TOO BIG or ́SMALL
COMPETITIVERAT, ES
UNITED DELIVERY CO., LTD.
Phones: 22906, 58556, 58557 & 58985
M
IT
NEVER
VARIES
FRIDAY, JANUARY 20, 1939. —PAGE 11
DEWAR'S
"WHITE LABEL"
Sole Agents:..
A. S. WATSON & CO., LTD.
WINE DEPT.
TEL 20616.
CHINA WAR RELIEF ALBUM
(EDITED BY THE CHINA INFORMATION SERVICE) - AN ILLUSTRATED RECORD.
OF
WAR RELIEF IN CHINA
50 cents PER COPY
CONTENTS]:
APPEAL FOR REFUGEE CHILDREN
by Madame Chiang Kai-shek. "OFFICIAL STATEMENTS
by Gen. Yu Hac-Mou,
Governor Wu Te-Chen,
Mayor Teong Yang-fu
CHINA'S ARMY MEDICAL SERVICE
PICTURES WOODCUTS
-
ETC.
i
DRAWINGS
ETC.
ETC.
QBTAINABLE AT ALL BOOK-SELLERS
.. AND
HONG KONG DAILY PRESS OFFICE
Tel. 30251. 18-19, Marina House, Queen's Hand C.
WHAT DO
YOU WANT?
If there is anything you want to buy or sell,
try a small classified advertisement
25 words $1.00 Prepaid for 8 insertions,
LAMMERTS' AUCTIONS
PUBLIC AUCTION.
THE Undersigned have received
InstructionS
to sell by
PUBLIC AUCTION
ON
FRIDAY. the 20th JANUARY, 1939,
Commencing at 2.30 p.m.
At their Sales Room, No. 2. Connaught Road, Central,
Ground Floor.
A FINE COLLECTION OF
·OLD CURIOS
Comprising:-
Old Porcelain Vases. Jars, Figures, Bowls Cups, Plates, etc., etc.
Bronze, Ivory and Soap Stone Ornament, Carved Wood Figures, Silk Embroidered Figures, etc., etc.
also
A FEW PIECES OF OLD CHINESE
HAND PAINTINGS
On VIEW from 19th JANUARY,
1039.
TERMS: Cash on Delivery.
LAMMERT BROS..
AUCTIONEERS.
PUBLIC AUCTION.
THE Undersigned have received
instructions
TO SELL BY
PUBLIC AUCTION
ON:
TUESDAY, the 24th JANUARY, 1939
Commencing at 5.15 p.m.
At their Sales Room, No. 2 Connaught Road, Central (Room No. 205, 2nd Floor)
A COLLECTION OF VALUABLE POSTAGE STAMPS
On VIEW from MONDAY, the 23rd JANUARY, 1939
TERMS:-Cash on Delivery.
LAMMERT BROS..
AUCTIONEERS.
SPEED
EASTWARD
FROM SEATTLE IN
“SOLID
COMFORT”
HONGKONG WEEKLY PRESS
AND
CHINA OVERLAND TRADE REPORT.
ILLUSTRATED
PUBLISHED EVERY FRIDAY
LONDON METALS
EXCHANGE
London, Jan, 18. COPPER
£
buyers sellers
Consolidated Mines, .25 ·
„Demonstrationą, „25
Standard, Cash 43-1/16 Standard.
£ 43-1/8
3 months 43-5/10 Electrolytic
48
TIN
Standard, Cash 216-3/8 Standard
43-3/8 49
216-1/2
217-1/4
I. X. L., .50
San Mauricio, 1.82
Buroc, 31
United Paracale, .73
GOLD MINING
PRICES
3 months 217-1/8
LEAD Foreign.
Official Price 14-1/2 closing sales yesterday Foreign. Official
Hongkong Sharebrokers
ABBO-
ON THE COMPLETELY
AIR CONDITIONED
Olympian
You'll enjoy its smoorn, gliding swiftness, over the shorten routa of fongest electrification.....its luxurious accommodations and friendly service... its sumptuous meast... îts inviting beds ...the freshness of its air conditioned equipment.
You'll maat discriminating travelers who prefer to travel Milwaukee...you'll thrill, to magnificent scenery, Include the journey between Seattle and Chicaga on The Olympion os a part of your itinerary.
;*
14-9/18
ciation
For further information inquire of your nearest steam- ship office, ony Travel Burgau, or
were:-
Ctvos.
Antamoks
.49
3 months 14-11/16 14-3/4
SPELTER
Ordinary.
.. Baguio, Gold
.28
Benguet Consol,
13.90
Cons. Mines ·
.0025
Deinonstrations
25.00
1. X. L.
.69
San Mauricio
1.82
Suyoc Consol,
21.00
United Paracales
ла
Market Closed Quiet,
Official Price 13-11/18 13-3/4 Ordinary, Official
3 months 13-15/16 14
Final Afternoon Transactions
Tin, Standard. Cash, £218-1/2 paid and value.
Tin, Standard: 3 months £217-
1/4 paid and buyers-Reuter.
BRIG MARSHALL, Agent
102 Government 26. Valado, MG.
F. J. CALIOINS, Ganacs) Agat
771 Granville St., Vancouver, BC.
IL F. JANDALL, Dist. Farmager. Agent
dit Market St. Sm Franciicy, Out
J. F. BAHL, Ànt, Cos. Pemenger Agent GEO. &. HAYMES, Pres. Trullic Mor.
Chicago, M.
KEE
THE MILWAUKEE ROAD
FULL REPORTS
OF
LOCAL NEWS, SPORTS, GOSSIP, TRADE, ETC.
30 CENTS A COPY
HONGKONG DAILY PRESS, LTD.
MARIKA HOUER (3rd Floor) 15-18, Queen's Road Cantilan.
80251,