HONGKONG DAILY PRESS
Finance and Commerce
CHINA'S COTTON TRADE
..
ON THE UPGRADE
Industry Reviving From Effects Of The War
CHUNGKING, Feb. 4 (Centrul)—With the help of the Agricultural Adjustment Administration and the Industria) and Mining Readjustment Còmmittee. China's cotton Industry which was hard hit by the war is gradually reviving in the interior provinces.
The two organisations, ander the control of the Ministry of Economies, were created by the National Government immedi- ately after its removal to Chungking in 1937.
The Agricultural Adjustment Administration, after
cotton into being, proceeded to buy up the raw the country.
coming throughout
According to statistics re- were inside the war zomes, and leased by
the Cotton Indus-only 11 are located in the rear. trial Commission, China's cotton In compliance with Government production in 1937 amounted to orders for removal, those in the 12,713,593 pleuls. Of this amount. war areas have moved into Sze- the Commission planned to buy chuen, Shensi and other in- at least 4.000.000 piculs produced terior provinces and alded by the in the provinces of Hopel, Shan-Industrial and Mining Readjust
Shensi tung Honan,
Hupeh.ment Committee, have Kiangsu, Cheklang and Antwel. operations in new premises.
SWEPT BY WAR
Hardly was the purchasing plan started in November, 1937, than many main cotton producing cen- The swept by war. tres were
for cotton purchase was area limited to Honan, south of the Yellow River, and Shansi, Kiang- su. Cheklang 'and Hupeh. t to collected Jurie. 1938, the cotton In those five provinces totalled 120,000 plculs, only three per cent.
of the amount originally planned
to buy.
The cotton purchased was ship- ped to Chungking and other tr dustrial centres in the rear for the "otton
among
distribution mills which have been.. removed there from the coastal cities.
It was the Industrial and Min- ing Readjustment which
provided
1.1
Committee necessary for the removal of the cotton mills to the interior
transportation facilities
A
Arcouding te an
investigation
mills
8" Chinese-operated cotton
ADVERTISEMENT
"By ORDER of the MORTGAGEES
PARTICULARS AND CONDITIONS
OF SALE
of the
VALUABLE LEASEHOLD
PROPERTY.
Situate at
SHAUKIWAN IN THE COLONY
OF HONG KONG
and
24
REGISTERED IN THE LAND OFFICE AS SHAUKIWAN LOT NO. 126 TOGETHER WITH THE BUILDINGS THEREON NOW KNOWN AS
NO. 9, PRAYA SHAUKIWAN
WEST
To be sold by
PUBLIC AUCTION
on
FRIDAY, the 10th day of February, 1939, at 3 o'clock p.m.
At the Ching" Auction Room, No. 5. Queen's Road Central. 1st floor. Victoria, Hong Kong.
by
Mr E. V. M. R. DE SOUSA Auctioneer.
Annual Crown Rent £2/11/5 (or $12.34). Total Area 5.800 square feet or thereabouts.
For further particulare apply to:
Messra. T'80 AND HODGSON, Mortgagees' Solicitors. Prince's Building, 1st floor. Ice House Street,
Hong Kong
or to
Mr. E. V. M. R. DE SOUSA
Auctioneer.
No. 5, Queen's Road Central first floor. Hong Kong.
Hong Kong. 6th February, 1938.
resumed
H. K. DEFICIT OF $440,043 IN 1938
In Spite Of Very High Revenue
ex-
sus-
As a result of increased penditure in nearly 11 Heads. the Hongkong Government tained a deficit of $440,043 for tho
year 1938, according to figures published in "Government Guzette on Saturday.
FINANCE
SHARE MARKET
IMPROVING
(BY C. A. L. RIČKETT) Secretary, Hongkong Sharebrokers' Association
February 3.*
H. K. STOCK
EXCHANGE
February, 1
The market was quietly steady during the short session and the The week opened with a quiet passed was an slightly improved small volume of business that
but steady market. Later in the week, when news wash received of the improved European political situation, prices hardened and the .market took an upward trend. There has been a substantial in- crease in the volume of business recorded for the week. At the close of business the feeling is more optimistic and the undertone of the market is firm.
H.K. Banks had buyers at $1,400, with sales reported at $1,410. Untons changed hands at $465. Trams Improved to $17.40 and at the close were wanted at $17.35. Revenue, totalling $36,735,851. | Hotels had buyers at $0.50 and) was the highest ever recorded. sellers at $7.10. Lands were want- exceeding that of the previous ed at $36), with sales reported at year by $3,539,485.
Expenditure, however, was also record, the total of $37.175. 89 being $5,084,675 higher than in 1937
year.
At the beginning of the It was estimated that the Colony would have a surplus of $3,124.620. compared
the with actual surplus
$1,085.164 in of
1937.
to
EXPENDITURE INCREASE ALL COTTON SÖLD
There was a big increase in ex- To these factories that
have penditure in December, the total removed to the interior cities and
of $5,982,720 being nearly $3,000, resumed operations, the Agricul-000 above the expenditure for the tural Adjustment
Administration same period in 1937. Revenue in has sold all the raw cotton pur-December amounted
$3,199, chased through the five provinces. 514. compared with $2,921,219 in In addition, this committee. In the same period in 1937.
Industrial confunction with the and Mining Readjustment Com- mitler, has placed at the dis year.
Trans- Dusal of the Southwest portation Bureau $500.000 for the
this figure. Providents (old),'-in anticipatlün of improved dividend, came in for Inquiry at $6.35, and the new shares were wanted $6.20. Watsons advanced to $8. A fair business has been reported
at
in Electrics at $58. China Lights (old) were wanted at $8.70 and H.K. Docks fold) at $171,
The "Star Ferry Co. has announ- ced a final dividend of $4.25, mak- Ing $6.35 for the year 1938.
Cold mining stocks have also
reacted favourably to the European political news, resulting in a steady market and improving prices.
WEEK'S BUSINESS
The volume of business transact- ed for the week ending February 3 is as follows:-
Miscellaneous Services, which Electrics purchase of a fleet of motor trucks 665 in 1938-an Increase of $1.411. Telephones
cost $1.628.917 in 1937, cost $3.040. Trams
to speed up the transportation | 942..
levels
BUYERS
Bank of East Asia, 580. Canton Insurance, $210.. Union Insurance, $185. China Underwriter, $0.48 HE. Fire Insurance. $170. H.K. Docks (Old), $174. HK. Docks (New), $16. Providents (Old), $6.35. Providents (New),$8,15 H. & S. Hotels, $8.80. H.K. Lands, $361. HK, Realties, $5.50 - - Chinese Estates. $97. H.K. Tramways, $17.35. Yaumati Ferries (Old), $224. China Lights (Old), $8.65. H.K. Electrics, $58. Macao Electies, $171. Sandakan Lights, $10. Telephones (Old), $23, Telephones (New), $7.65. Cements, $15.85 H.K. Ropes, $4. Watsons. $7.80 - Wing On (H.K.), -$38. Entertainments, $7. Vibro Piling. $5. Marsmans (HK). 2/8.
SELLERS
Hongkong Bank, $1420, Canton Insurance. $220, H.K. Lands, $367- H.K. Electrics, $58). Cements, $161.
SALES
Union Insurance, $485. H.K. Docks (Old), $17.60. Providents (New). $61. H.K. Lands, $364..
HK. Tramways $17.40/50. H.K. Electrics, $581/593. ·
Caments, $18.
Constructions, $14.
PHILIPPINE MINES Antamoks, P. 42).
Baguio Gold PS. 261.
Benguet Consolidated Ps., 14:00 Coco Grove Ps.. .47
ed
Nearly every Department snow.
increased expenditure
"
No. of Shares
Price
last
H.K. Banks... Unions
4 $1.385
20
460 to 465
452
55.25 to 58.50
1,100
16.90 to 17.40
(0.)
of cotton, Meanwhile, A consi- MILITARY CONTRIBUTIONS derable number of mule carts are
to Military contributions
the Lands used "to transport the cotton. Imperial Government. increased Steamboats.... from the outlying districts.
to the China Light from $5,586,415 in 1937 With a view to supplementing all-time record of $6,880,723- Rights machinery, the Ministry of Econo-la jump of $1.294,308. It will or Hotels ..... mies has adopted a comprehen- recalled that Government recent H.K. Docks sive programme for the promotion fly announced that future,
(N.) contri- of cotton spinning and
Gozem Watsons weaving butlons to the Imperial by hand boms, In accordancemment have been fixed at $6.000.000| Ent'tainments with orders circulated
by the per annum.
Realties Ministry, the authorities in all Only
Cements the cotton producing provinces creased
Providents:
(0.1
Star Ferries...
100
50 500
·150
22.75
71.00
36.00 to 36,50
13.50 to 144
Atoks, Ps. 351.
1.783 1,350
2.95 to 3.00
6.60 to 6.90
450 1,500
16.30
7.75 to 8.00
362 7.10
seven Heads showed in.
Revenue during
1938,
500 5.65 500
15.95
500
6.35
Revenue
(N.) a 500 Sinceres.......
6.20
90
1.70
15 to 49
.041
H.K. Govt. 4%
Loan ... $3,000
64% premi
in the rear have organised Cot the principal being Revenue from ten Cloth Improvement Com-dultes, which increased from mittees to proceed with the task.
HONGKONG
SHAREBROKERS'
ASSOCIATION
Voliune of Business Transacted en Saturday, February 4
No. of
STOCK
Electrics
$7,625,411 to 39,105,121
from this source comprised al- Underwriters. 14,000 most one third of the Colony's H.K. Mines...20,000
total revenue.
were
LAND SALES Ur Land Sales showed a welcome Increase of $671,046, after
de H.K. Govt. 4 clining steadily for several years.
Loan
$5,000 The total receipts in 1938 $1.199,510, compared
22,000 Itogons with $528.
Coco Grove..... 1,200 463 In 1937. The actual revenue exceeded the estimated revenue by"!
United
$844.510.
Despite the serlou, loss of busi ness. since
the closure of the Chinese section of the railway. the Kowloon-Canton Railway 'suc
Επ ceeded
Increasing revenue from $1,297,040. In 1937 to $1,982,
increase of $484.347. The Coss sustained
by the KCR as a result of the closure may be
re-
Shares Price
300 $581
100
584
28
59
6
59)
Watsons
500
8.10
H.K. Docks
500
171
Watsons
200
&
Providents (0.)
500
IN.)
000
2,150
6.40 6.25
52 287, an
1,000
.55
Ps.0.21
Underwriters
Demonstrations
SILVER MARKETS
LONDON SILVER
London. Feb. 4 (Reuter). Sliver--India and speculators bought. Offerings small, market quietly steady.
Spot, 20-1/16d.. Forward, 19-3/4d.
NEW YORK SILVER
New York. Feb. 4 Reuter), Omelal Price-unquoted
BOMBAY SILVER
ܙܐ
Market-Quiet. Offtake 20 bar.
Ready
Bombay, Feb. 4 (Reuter)..
Iridian Mint Silver
52-05 52-06
of the Chinese section instanced by comparing the
venue of $138.027 in
of
December, $39.280
1937, with the total
in the last month of 1938.
ASSETS SHOW DECLINE Hongkong excess of Assets over Liabilities has decreased to $13. 562,234 as a result of the defcit sustained in 1938, it was "reveal- ed on Saturday morning,
The Colony's actual cash assets now total just over $3,000,000. owing to the fact that over $12,000,000 has been advanced for
Public Works against loans which have not yet been issued.
Feb. 14 Settlement 53-03 52-04 MR. F. J. MASSEY
Mar. 17 Settlement.
"
52-00 52-01
BRITISH TIN
INTERVIEWED
"The British Commonwealth Re- lations Conference was a great LONDON, Jan. 10-Chief interest success" declared Mr. F. J. Massey. in the report of British Tin Invest-ann of the Hon. Mr. Vincent Massey. Canadian Trade Commissioner in
ment for the calendar year London, who arrived in Bingapore
1938 centres in the balance sheet, as the pront figure and anal divi- by the "Opten Ncort" recently
on his way back to England,
dend were already known. During
Mr. Masrey was presa Attache at
the year the company has taken the Conference, and in an interview advantage of the depressed state of the Tin shard market to add to expressed the belief that the frank exchange of views at the
its holdings. The book value of Conference would do much the Investments is up from £2,510,-
to
137 to £2,022.962-the latter figure
the Improve
relations and after deduction of balance of pro-strengthen the ties between the At on realization account amount various Colonies and Dominions. fing to £35,016-while cash shows a The Oxford University presa
would. he said, 'shortly, publish a
decline from £208.834 to £90.783 book on the Conference. Editor of Some idea of the strength of the the book is Mr. H. V. Hodron, well- company's financial position is. afforded by the intimation that the known authority on Empire affairs.
market value of quoted securities.
which from 97.8 per cent. of the though as a holding concern its re- total, is in aggregate in excess of venue will necessarily be slow to re- cost. In addition there is a general flect a revival. The current quota- réserve of £575,000, The report thus tion of 139, 6d; for the. 10s, sharca confirms the Impression that the viewed in the light of last year's ? company is well placed to beneût per cent, dividend, reveals that the from the improved conditione now market is alive to the promised in the tin industry, al- potentialitics.
recovery
Paracale 4,000 Antamoks......11,000
Suyocs Demonstra-
tions Masbate
22,000
:19,500 3,000
(cum int)
4% prem.
(ex int)
Consolidated Mines Fs., 0025 Demonstrations, Ps 21.
I.X.L., 66..
Paracale Gumaus Ps.. 124.
San Mauricio Ps., 1.72 Suyoc Ps., .23
United Paracale Pa., .67
THE SHARE MARKET
Philippine Gold Mining Quotations
Antamoks
Atoks
Baguio Gold
Benguet Consol,
Ps.0.32 to:35
Coco Grove
45 to 48
Concol. Mines Demonstrations
I X. L.
February 4.
421
351
26
.67 to.70
441
Paracale Gumaus 221 to 23 San Mauricio
Suyoc Consol. 214 to 224 United Paracales 171
Market Comment.-Q.
SHIPMENTS HANDLED
TRUCKING
Solve your problems by
entrusting your work" to
14.00
47
00.25
21
60"
12
1.72
23
07
UNITED DELIVERY. CO. LTD.
HONG KONG PREMIER TRANSPORT ́CO,
PHONES: 20906, 58556, 58557. 58985.
ON
SALE
JANUARY
NUMBR
OF
THE
MONDAY, FEBRUARY
Why
R
TAG: INPARÁTY SLUT. TO LINK
VAT
69
is the
preferred Scotch Whisky
Its liquour character, the combined effect of supreme quality and age, make VAT 69 the preferred Scotch Whisky among qualified judges.
Always ask for it. You cannol
serve your guests a ̈ better whisky!
WOHNRY
VAT 69
Sanderson
adarson stem. Let
Destillar2.
LEITH,
Quality Tells. 1
Junderson's
LUXURY BLEND, SCOTCH WHISKY Imported by
W. R. LOXLEY, CO (CHINA) L. YORK BUILDING HONG KONG
Datilind and kettled in Scotland by Wm. Sanderson & Son, hid... LEITH
C.F.H
What do
you want?
If there is anything you want to buy or
try
25 words $1.00 prepald
for 3 Insertions.
CHINA JOURNAL
6, 1939. -PAGE 1
LAMMERTS' AUCTIONS]
PUBLIC AUCTION.
THE Undersigned have received
Instructions "
TO SELL BY
PUBLIC“ AUCTION
ON
THURSDAY,
the 9th FEBRUARY, 1939
Commencing at 2.30 PM.
At their Bales Room, No. 35, Hankow Road Kowlcon
A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE
Comprising:-
Blackwood Ware. Teakwood Din- ingroom, Bedroom, Drawingroom and Office Furniture, Cutlery, Pictures, Carpets, Rugs, Brass, E P., Glass and Porcelain Ware, Omaments, Cabin and Wardrobe Trunks, Gramophones and Records, Electric Lamps and Heaters, Cooking Utensils, etc, etc.
On View from "WEDNESDAY, the
8th FEBRUARY, 1939.
TERMS:-Cash on Delivery.
LAMMERT BROS..
AUCTIONERS,
PUBLIC AUCTION.
THE Undersigned have received
instructions
to sell by
PUBLIC AUCTION
Con
FRIDAY,
||
the 10th, FEBRUARY, 1939
Commencing at 2.30 P.M.
at their Bales 'Room, No. 2, Connaught Road, Central, Ground Floor.
3
A QUANTITY OF VALUABLE
HOUSEHOLD FURNITURE
Comprising:---
Teakwood Bedtead, Divana, Chesterfeld
Buites, Wardrobes,.. Dressing Tables, Chests of Drawers, Sideboard, Dinner Waggan. Dining Tables, Chairs and Armchairs, Carpets and Rugs, Pictures, Desks, Typewriter Tables, Filing Cabi- nets, Bookcases, Glass Cabinets, Wooden Trunks, Cutlery, Crockery, Glasses, Tea Sets, Gramophones año Records, Sewing Machines, Typewriters, Radio Bets, Electric Table Lamps and Heaters, Orna- ments. Curios, etc., etc.
Also
A FEW PIECES OF BLACKWOOD FURNITURE
and
1 Full Bize White Polar Bear
Skin Rug
1 Electric Refrigerator "Elec-
trolux Ltd."
1 Piano "Haake Hanover".
1 Cooking "Stove "Carron Dover"
On View from THURSDAY, the
9th FEBRUARY, 1939. -
-
*TERM8: Cash on Delivery.
LAMMERT BROS..
AUCTIONEERS.
CONTENTS
"Pacified" Shanal..... By H. H. Barger
An Aftermath of the War
By Rewi Alley
The Chinese Female Impersonator....
By Julius Figuer Prelude to the Sino-Japanese Bostilities By Hubert Freyn
"People Who Matter"
PEOPLE WHO
MATTER, to the
PRICE at all bookstores
"New Binklang In the Making
By Charles Wang, What is Biological Control?............. .... .....
By E. F. Linssen Western Credits for China...
By John Ablere
$150
„Tune in on STATION XMHC, 7.- Kilncycles, at 9.80 on Wednesday mening for our Werkly Broadcais
advertiser are the people who ČRIZ
afford to boy his goods. Most of
these people buy.
and read the
Hong Kong Daily Press.