+4
$9.86
STOCKS
Last Sale
* Last Sale
Feb. 16
Feb. 16
91
Int. Tel. & Tel
**
23
Johns Manville.
93
421
Kennecott Copper
371+
Libbey Owens-Ford
Class 491
$1
911
Lockheed Aircraft
33
3
Loew's Inc..
491
mechani- Ameri & Foreign #7 pf....
161
Martin, Glen L
371
cal counterpart was that a couple Amer. Locomotive
252
Monsanto Chemical
100
of minutes or so sufficed to un-Amer. Metals Co.
331+
Montgomery Ward
511
9
16
used with
two or
harness him into another. Where Amer. Rolling Mill ........ extensive loading and unloading Amer. S'ting and R'ing Co. was entailed,, this was of consi-Amer. Sugar Räng derable value, as one horse could Amer. Tel. & Tel. be
bitch a horse from one wagon and Amer. Radiator... 131
Cat. Dairy Products
141
· PAGE 12-HONGKONG DAILY PRESS
Finance and
Commerce
Railway Sleepers From Szechwan Forests
CHUNGKING, FEB. 17 (CENTRAL)-THE RISING DEMAND FOR SLEEPERS FOR THE NEW RAILWAY. UNDER CONSTRUC- TTON in southwestern China will be met by Szechwan's abun- dant virgin forests when the lumbering programme of the China Lumber Company, is in full swing. The Company, established in". May, 1937, in Shanghai with a capital of $200,000, has now opened an office in Chungking for the purpose of speeding up Its wood cutting work in this western province.
THE WELFARE OF EMPLOYEES
Yet another addition to the welfare of the employees of the Standard Motor Co, was inaugurat- er recently, when Captain J. P. Black, the managing director, om- cially opened the new works can teen. The ever-increasing
ber of employees at the Canley factory necessitated the building of this new canteen, which conveniently situated near the centre of the works and has seat- Szechwan's forest area amounts jenity in importing sleepers from ing capacity for 1,500 persons
side to 33,750,000 acres, 34 per cent. of Australia and other countries.
Along the whole of che The first cutting station chosen of the building are ranged various the province's total land area of 431,309 square kilometres. The by the China Lumber Company is
ralled of counters on the cafe- pasins of the Fu. Min, Chingyt in western Szechwan. Here, more teria principle, for the different
Band Tatu and Golden
rivers,than 500 wood cutters are busily tributaries to the mighty Yangtze cutting timber for the nation's dishes. There is a shop and a
bar: also a constant source hot water for those who wish to Music is prepare their own, tea.
building relayed throughout the
y means of loud speakers
in western Szechwan, are all im- reconstruction programme. Their portant timber regions. The time work, however, is risky. The "con- tribesmen ber. reserves in this terriotry can stant threat of local only be guessed' at as few people who resent the activities of these have ever penetrated the areas.
lumber men makes it impossible However, it is estimated by the for them to go far into the woods. Szechwan Reconstruction Bureau The damp forest ar breeds sick- daculties that 41,497,500 trees with a breast-ness. Communication
high diameter varying from one to also worry the company anthori. three feet are in the districts along ties. However the-company-is the Tatu and Fu Rivers alone.doing its best to overcome these.. They are mostly fir. hemlock and problems.
spruce.
Eastern Szechwan, especially on the Szechwan-Shensi and Szechwan - Kwelchow borders. are rich in secondary forests. Along the upper part of the Kialin River, which flows into the Yangtze at Chungking's door-step. are about 2,940,004 trees with a breast-high dia. meter of from one to two teel. Judging from these two es- timates, it is safe to say that Sze- "chwan forests, if scientifically ex- ploited, will be able to supply the country's present demand for tim- ber for its gigantic development pro- plan in the southwestern vinces. Raliway sleepers, of which China, used to import more than 2,000,000 annually, can also be met by supplies from Szechwan forests. This will remove the present, diff) -
A special clinic and health station for its workmen has been established in the wood-cutters' to tribesmen, special Įcamp. As
efforts have been made to cultivate their friendship.
INCREASE-IN -PRICES-OF- TYRES
FINANCE
HONGKONG SHARE QUOTATIONS
STOCK EXCHANGE
$2410 CD.
$175
SHAREBROKERS: ASSOCIATION
Bloomin FRIDAY 17,
ex.div, £84
(60 ots
$180
-FEB.
Banks
Buyers
Snies pina
1++
01480 O.D. XD.
£91
£13
FK. Banks
Do. (Col Bag.}' Do. (Lon. Beg.) 29) ·|Chartered Banks .... EXT Mercantile. Bt. "" $13 Marsatile Bla, "0" {Bank of Bart. Asis lis N. C. & 8. Banka ... Enanrances
990 Canton Injurances ... Union InsurEDORE ... Underwriters
H.E. Fir
Shipping
165
Douglas
SIA
Steamboats
160
Indo-Chines
(Prod.)
194
93/11 (Shala
{Indo-Chinas `(Del.)...
Waterboats.
Docks, Wharves,
Godowns, etc.
#118 JE.K. & K. Wharves [Providente (old)
*$.53
3.60 $58/80
41.75
$85 3141
824
23/17
$9
SATURDAY, FEBRUARY 18 1939.
PAYNE
& CO.
COMMODITY BROKERS
STOCK EXCHANGE BUILDING
HONG KONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
New York, February 18.
SINGAPORE RUBBER
February 15 buyers sellers 27-1/4 27-1/2
28 27-3/4 28- 28-1/4
Feb. 18 buyers sellers 127-3/8-21-5/8
21-3/4 23
28 23-1/4
..
change
up 1/8
unch.
The market opened 1/8 of a cent lower for all deliveries as com- pared with Wednesday's closing rates.
In sympathy with advices received from London and New York the market ruled steady early in the morning.. Fair buying interest was displayed by consumers as well as by dealers and speculators. Later in the session prices declined by 1/8 cent for all deliveries, mainly due to profit-taking, but subsequently recovered this slight setback, the market closing with a quiet undertone.
$218
SPOT
36.40
$4.70
APRIL-JUNE
of
86.30 Providenia (new)
JULY-SEPT.
8161
305
|$17.70 'H,K... & W. Docks....... Do. (new) ̈ ̈* Shanghai Docks 9.
$17.80
317
101
16
New Engineerings 8.
Mining
17/0 Kailan
17,0
$8.90
*
NEW YORK. Feb. 17 (Reuter)- An increase in tyre prices, averag- announced ing 24 per cent, was to-day by the Firestone Tyre and The lead Rubber Company. The problem of transportation is taken by Firestones is expected met by the use of the Tatu River to be followed by general in- which flows into Min River and creased prices throughout the in- then into the Yangtze.
dustry,
NEW YORK STOCK EXCHANGETM
Adams Express
| Alleghany Steel Co.
NEW APPLICATION (Allis Chalmers
OF OLD PRINCIPLE
Amerada Corps, Amer. Can
One advantage of horse-and- Amer. & Foreign Power
cart transport over its
(Through Renter's Service) QUOTATION
FEBRUARY 17, 1939
STOCKS
#
$8.70
Radbe
Venesuela Gold Flds
beta. Hong Kong Mines... Lands, Hotels and --- Buildings H.E. Hotals
136 H.E. Landa .........S. $107 Do. 4% Debentures
860 Shanghai Lunda 8.
H.K. Realties tam
ezdir. 8.05 Humphreys.
$100 Chinese Entmten......
Cotton Mills
***
$4
$17.05
་ ་ཚང་
R$
Bandaksa Fights
Telephones. (old)
17/6 Tractions
Industrials
$14 Cald., Macg. (Ord.) 8.
36.85
!:
LONDON RUBBER
$36
Previous close
buyers
sellers
I.D.
$5.70 38
SPOT
8
8-1/16
To-day's close buyers sellers
8
change
8-1/16 unch.
APRIL-JUNE
8-1/16
8-1/8
JULY-SEPT.
8-1/8
8-3/18 8-1/8
8-1/16" 2-1/8
8-3/16
$17.50
OCT.-DEC.
8.3/16
8-1/4
8-3/16 8-1/4.
808
$291
Market steady.
$17
NEW YORK COTTON
A very quiet," but steady market, with traders keeping to side- lines. Price movements were narrow throughout the day, as the market is awaiting a clarification of the issues in connexion with the cotton programme. However, some new buying and short cover- Ing kept prices about even. The undertone at the close was steady...
NEW YORK RUBBER
Prices eased on small profit-taking and liquidation early in the session. Thereafter, the market was very quiet, with traders adopt- $7.50 Ing a cautious attitude. The statistical position is sound and war- 29/-
rants higher levels.
19
$18. Cald, Macg. (Pret:) B.
$1.60
Canton Ion in
$134
$10
Camente
Ropes
323
Dow Jones Industrial Averages
$7.05
$11
1 Construction (old)
$17 Ew (8.)
$10
8'hal Cottons (8.)
'
$24
Zeong Sings (B.)
$42
Wing On Textiles (8.)
Public Utilities
Tramways
$17
Peak Trams (old)
18
Peak Trams (new)
34
Star Ferrion
17%
1221
'mati Farrida (0)
$29
Do. (2)
$6
China Lights (0)
China Lights (New).
$3.40
Chins Lighta Rta.
$57
EL Electri
8501
$16
Macao Blectrics
$99
#7]
Talaphone (2)
23/6
Tractions (praf.)
CHICAGO WHEAT
To-day's was a weather market, Nears were marked down on lower Overseas' cables. Demand for exports was pOOT.
Nat Distillers......
201
44
.201
National Load
National Gypsum .........................
131
23+
1581
Nat. Power & Light
8
$7,86 Watsonn
more Amer. Tobacco "B"
851
Nat. Supply Corpn.
121
68 Ch. G.5%
vehicles.
have
Amer. Waterworks ........... It is this principle which has been Anaconda Copper adopted by the LMS, Railway of Atchison, T., & S. Fe.
Great Britain, who
131
New York Central
184
291
N. American Aviation ......
191
351
North American Co.
25
lately Auburn Motors...
Northern Pacific .......
111
taken into service the new
spe- Baltimore. & Ohio
61
Pacific Gas & Elec.
30.
.3/3
cial Dennis Tractor chassis design-Barber Asphalt Ct
181
Pacific Lighting
454
ed to operate with
2-wheeled Barnsdalf Oli...
164
Packard Motors
4
trailers
Based upon a well-tried Bethlehem Steel
701
Paramount Pictures
104
Miscellaneous
Dazzy Farma
Ch. B'tainments
Constructions {sew)
Lane Crawfords ......
Nanyang Tobago
#11 Sincere ...........
37.pm
19250 #Bde. H.K. Gork. 1% Loos
HX, GOTL 3% Loan H.K. Wing On B'hai Wing On
16.60 Vibro Piling
14/41 Maramans Inv. (Lon.)
Maramana Inv. (H.K.)
90 cts. Wm. Powell
[*Sales. to Shanghal
Feb. 16 Feb. 17 Change 145.39 144.60
up 79.
$7.85
$102
$100
$40
N. Y. Commodity Market
for
4 F
86.60.
190 cta.
High
tora are noted for
standard' model, the new
having 4-cylinder, petrol engines Biggs Mfacturing
trac-Boeing Airplane Co.
291
Pennsylvania, R.R.
201
their power,
Borg-Warner
251
Phelps-Dodge
301
251
Phillips Petroleum
391
LONDON STOCK
EXCHANGE
New York Coston ---- Mar. New York Rubber
Mar.
New York Eldes
Mar.
developing 75 b.h.p.. (which
be
wheels They are designed to Chesapeake & Ohio operate with e-ton load
Chrysler Corpn.
Columbia Gas & EL
Brooklyn-M'hattan Trans, main-B'klyn-Mḥatton $6 cum pt. ables good speeds to
Canadian Pacific R'way. tained), and for their stablity. being low-built 4-wheel chassis Case. J.I................
Celanese with hydraulic brakes
all
121
Public Service of NJ.
364
Pullman Inc.
Chicago Wheat
May
871
344
5
Pure Of
(REUTER'S SERVICE)
离
87
Radio Corpn. of Am.
71
LONDON, Feb. 16.
Chicago Winnipeg Wheat
Corn
May
491
(By Courtesy of Messrs. Swan, Culbertson & Fritz and 8. S. Levy & Company)
Prev. To-day Low Close Close Change
8.41 8.37 8.39
8.40 .01 up 16.15 16.08
16.10.08 DI 10.93b 06 up
677 67% 671. 1. off
491 ap
16.18
11.04 10.83
10.87
481
481
May
821
82+
unch.
啡
201
Republic Steel...
21+
35
Reynold Tobac. “B”
392
竹
Schenley Distillers
15
The following quotations are the middle prices at the close of the market in London. All quotations are subject to confirmation and no responsibility is assumed for errors in transmission.
NEW YORK COTTON
Close
Opening
Closing
BL
Schenley, 51% pfd..
69
ฟ
PHILIPPINE IMPORTS
Columbla 6% "A" pt. commercial
854
Sears Roebuck
"$
March (1939)
8.30/40
8.39/99.
8.40/40
73+
*534
Shell Union Oil
131
British and
Commonwealth & 8. (ord.)
17
most
azd
of
ex-
Cwealth &, 8% cum pí.
802.
Consolidated Edison
331
Consolidated Oil
B
30+
27
641
7
271
United States pesos
Distillers Corpn. Seagrams
181
74
1491
111
111
Elec. Bond & share $5 pt.
621
Elec. Bond & Share $6 pf. 694 Elec. Power & Light $7 pf. 38 Hintkote m
271
Gen. American. Trans.
551
401
49
23
214
211
.64
331
15
25
18+
1
.837% 511
1979 & 1939
3433 19.00 36 Haik
25.62 15.14 Utilities
2485
92.70 83.39 40 Bonds
20.27
48.00 43.03.11 Commodity Index 4701
MANILA, Feb. 8
Japanese ships carried
the Philippine imports
port during 1938, shipping statis-
tics of the Commonwealth Gov- ernment revealed to-day,
British vessels carried 59,782,000
Continental Can Continental Ol
Corn Products
Curtiss Wright (0.)
pesos worth of goods, Japanese Curtiss Wright "A"
$7,018,000
31,800,000 pesos, Norwegian 31,449. Douglas Aircraft
000 pesos and the remainder of Du Pont de Nemours....... the goods imported and exported Eagle Picher Lead was carried by German, Nether-Elec. Bond & Share
lands, Itallan and others,
OIL COMPANIES
IN MEXICO
MEXICO CITY, Feb. 17 (Reuteri Gen Electric... -Foreign oil companies have joint-Gen. Motors ly filled an application for an in-Gen. Railway Signal Junction against the effectiveness Glidden Co......
of any action which may be Goodrich (B.F) taken under a partial valuation Goddrich $5 pt.
of their properties by the Na-Goodyear Tire & Co. tional Economy Department.
It Great Northern Iron Ors...
is claimed that, pending the Su-Great Northern Rly, pfd. preme Court decision, the valuk Great Western Sugar tinn by a subsidiary authority. Greyhound Corpn. such as the Economy Department Hecker Products
Homestake Mining cannot be acted upon,"
Int, Nickel
GEARLESS BUSES
In two recent weeks Leyland Motors received orders for over 140. "gearless" "buses.
The largest orders emanated from Melbourne, Tramways Board, Aub- tralia, for 70 ofl-engined double and single-decked" burer, "and 50. oll-engined, double-decked buses from Birmingham Corporation:
_bid.
DOW JONES AVERAGE
High Low Dow Jones Averages, Feb. 16.
14280 $188.41 £1.95. 30 Induftrials
29 92
Change Chinese Eng. & Mining
Feb. 17, 1989, High Low Close (146.19 144.00 145 39
80.6880.23 20.40) 25.47 14.95 18.34 My past
2471111 Business Dome:-860,000 shares
of Phal Elec. Constr. Co.
ghai Waterworks
Socony-Vacuum Oil
131
Southern Pacife
War Loan, 31% (Red.)
after 1952) - .... -97-3/16 Canton-Kloon Rly. 5% ··19-1/2
301*
May
July
October.....
162
Southern Rly $5 ptd.
Chinese 41% Gold Loan,
December
271
Sperry.
1898 (Brit. I8910)........... 73
40
Standard Brands
Chinese 5% Gold Bonds,
January (1940)· Spot
7
Stand Gas & Elec.]
$31
Standard Oil of NJ.
491
Stone & Webster
101
Swift International
Technicolor
1912
184
|Texas Corpo.
440
Texes Gulf Sulphur.....
1913 (Ldri K.)
31
Trans-America.. 00.
20th Cent. Fux."
231.
| 20th Cent. Fix. $1§ pl. mini
1925-47
Chin 44% Anglo-French
Low, 1908
Chinese" 5% Crisp Loan,
Chinese 5% Reorg. Loan,
Chinese 5% Ster, Notes,
1925 (Vickers)
Chin. Imperial Kly. 5%
Union Carbide & Carbon
Loan
84
Union Pacific .....
Honan Rly, 5%
951
United Aircraft:
Hukuang Rly 5%, 1911... 21
411
United Airlines Trans.
Hukuang Rly. 5%, 1911
114
(German · Issue)
United Corpn.
3+
United Corph #3 čum Pf.
351
Lung Tsing & U. Hai Rly,
United Gas Corpn.
5%
27
United Gas Improvement
121
US. Rubber
401
US. Rubber 38 pid. i 104)
UB. Steel
801
Vanadium
261
251-
Warner Bros. Pict,
51
Westinghouse Elec.
1114
Woodward Iron Cor
22
Chase National Bank
311*
National City: Bank
*241*
Shai-Nking Rly. 5%.... Tientsin-Pukow Rly. 5%
(Brit. Stpd.) Tientsin-Pukow Rly. 5%
(German Stpd.) ........ Tientsin-Pukow Fly, 5%
(Brit. Stpd. Bupl. Lean) 167 Tientain-Pukow Rly. 5%M
(Ger. Stpd. Supl Loan) Jap. 5% Eter Loan, 1907 44-3/4 Jap. 6% Ster, Loan, 1924 49-1/2 Ger, 1% Inta Loan, 1924 37 Chartered Bank
༞་ཆཧྭ། 8 བ་
·40 ...95/7
7/9
March (1939)
6/6
May
Courtaulds
Distillers.**.**
**********28/9
481
13-1/2
September December
133/9
May
20
Rolls Royce
Till
Union Insurance Gula Kalumpong Rubber 18/9 Allied Ironfounders 18/6 Asso, & Elec. Industries 407- Austin Motors, ord. .............. - 27/9 Cable & Wireless, New ***
Form, ord.
B.-A. Tob. (bearer)
Cammell Laird, brð. Mexican Eagle
90/41 Dunlop Rubber "............................. 24/14 Gen: Electric (England) 7716-* GURTECH (8) Bon đi 'Co. 10748 Hawker Siddeley Aira.... 2216 Bristol Aeroplane : .................... 22/9 Imperial Chemical Ind. 31/7} Imperial Tobacco Marks & Sp'cer:"A" ord. 158/2
To-day's Sales: 2,170 tons
First Notice Day for March Rubber is February 27 and the last Notice Day March 29.
8.02/03
8.02/04
B.02/03
Change 01 up unch.
*1.70/71
7.70/12
7.75/76
7.96/36
7.35/34
7.36/38
05 up dřich
7.37/57 7.37/37
7.37/37
7.37/37
7.38/38
7.40/40
8.99 N
8.94 N
.05...off
NEW YORK RUBBER
16.10/10 18.18/18
16.04/04 18.18/17
16.08/08 18.15/15 18.14/15
16.10/10
16.10/11
16.04/05
16.02/04
8999
88-A
111/1
Leyland MotOTE
Septen
CHICAGO WHRAT
677/68
877/671 -877/671
674/672 871/68
·684/681
83/11
Tate & Lyle
50/7
Wed
Bald
Turner & Newall
78/11
United Steel van
-6,453,000 bushels,
CHICAGO CORN
amethwick DroD FOTS......
16/6.
May
481/485
481/484
Armstrong Stevens, or
7/8
Jiny
491/60
491/401
Pressed Steel, com..
16/14
Bepter
5017601 50/501
999
Vickers, ord: pa
22/4)
Woolworths
€1/9
WINNIPEG WHEAT
16.
9-5/8
Anglo-Dutch Sai: 23/4}^ Rab. Plant. Invest. Trust 28/10 Burma Corporation. 8/3 Commonwealth Mining...... 1/44 Marzman". Investments: Randfontein. Estates
May
621/623
€29/614
July October
031/631
631/631
837/637
823/62
83
unch.
14/4)
ex div.
36/3
NEW YORK HIDES: (New Contracts)
HK & Bhai Bank Lan,
Western Holdings
9/9
HOL)
84
March
10.87/87
Sub-Nigel Sheremen
220/44
HK & Shat Bank (Col
ROL)-SATİLİ
July
11:28/28
10.93b/968 10.95/90- 11.40/361 11:35/36
Tanaml Gold Mining
431
Anglo-Iranian,
90/7
NY Silver, Omcial 42-3/4 NY-London Cross Rate 4.68-5/8-
42-3/4
468-0/16
7 up (bearer)
Burmah
89/11.
47 up
Shell Trans
49 up
Chosen Corporation
(Bearer)
83/19
Perth Byndieste
Nomihal.
NEW YORK STRAÏTI TIN
46.10 N 44.85b/45.05 45,10 N