HONGKONG DAILY PRESS
BANKS
HONGKONG AND
SHANGHAI BANKING
CORPORATION
Authorised Capital ........$50,000,000
THE CHARTERED
BANK OF INDIA,
AUSTRALIA &
CHINA
Tamed & Fully Paid-Up 820,000,000 Incorporated by Royal Charter, 1933 Reserve Funds:
Sterling
..£6,500,000 Paid-up Capita) H.K. Currency Reserve $10,000,000 | Reserve Fund Reserve Liability of
Proprietors
$90,000,000
Ficad Office:-HONG KONG
Chairman.
Deputy Chairman.
Board of Directors. Hon, Mr. A. L. Shields,
W. H. Lock, Esq.,
J. K. Bousfeld, Esq., A. E. Compton, Esq..
11
Hon. Mr. S. H. Dodwell,
G. Miskin, Esq..
K. S. Morrison, Esq.,
Hon. Mr. J. J. Paterson,
T. E. Pearce, Esq.,
E. V. Wilkinson, Esq...
Sir Vandeleur M. Grayburn,
(£3,000,000) :£3,000,000
Reserve Liability of Pro-
£3,000,000 peletors... HEAD OFFICE: LONDON:
38, Bishopsgate EC3,-/- „Sub-Agencies b. London: 11/122, Leadenhall Street, EC.3. West End Branch: 14/16, Cockspur Street, S.W.1. Manchester Branch: 71, Mosley Street, Manchester.
AGENCIES AND BRANCHES: ALOR STAR BARBIN PENANG AMRITSAR HONG KONG RANGOON BANGTOK
ILOIL DATAVIA IPOE BOMBAY CALCUTTA
Czīve StarT
Chief Manager.
KARACHI KLANG
AGENCIES: Koss
Branches:
Amoy
Ipoh
Bangkok
Johore
Penang Rangoon
FAILI PLAC CANTON
DALA
LEMPUR
"Batavia
Kobe
Saigon
Bombay
Kowloon
San
Calcutta
Kuslo
Francisco
CAWNPORK CKBU COLOMBO DILEI
KUCHING
MADRAS
Lumpur Shanghai
Chefoo
Colombo
Lyons
Sourabaya
HAIPHONG HAMBURO HANKOW
MANILA- MEDAR NEW YORK PRIFINO
Foochow Manila
Haiphong Muar
Hamburg
..
Canton
London Singapore
Dairan Malacca Sungei
Patani Swatow (Johore) Tientsin
Hankow Mukden Tokyo
Harbin
New York Tsingtao
Hongkes Peiping Yokohama Iloilo
in
Current Accounts opened Local Currency and Fixed Deposits received for one year or shorter periods in Local and other Car- reacles on terms which will be quoted on application.
Also up to late Safe Deposit Boxes in various sizes To Let.
Hong Kong, 25th Feb., 1938.
HONGKONG SAVINGS
BANK
The Business of the above Bank
is conducted by the HONG KONG
& SHANGHAI BANKING COR- PORATION.
(Peking)
BEREMBAN BHANGHAI ВІКОЛРОДЕ SITIAWAN BOURABAYA TAIPING TIENTBIN TONGKAN
(Bhuket) TSINOTIO YOKOHAMA
FOBLIGN EXCHANGE and General Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED DarosIts received for One Year or shorter periods in Local or Other Currencies at rates which will be quoted on application.
SAVINGS ACCOUNTS also opened in Local Currency and. Sterling with interest allowed at rates obtainable fon application.
The Bank' Head Offer in 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
Rules may be ob- 15, QUEEN'S ROAD CENTRAL
tained on application.
For the HoxO KONG & SHANGHAI
BANKING CORPORATION.
V. M. Grayburn,
Chief Manager.
Hong Kong, 25th Feb., 1939.
BANK OF EAST ASIA, LIMITED
IPAPAIN
-
Authorised Capital $10,000,000.00 Paid-up Capital
5,598,800.00 Reserve and Undivided
Prostr
2,776,726.76
Head Office:--HONG KONG No. 10 Des Voeux Road, Central.
Board of Directors:
Sir Shoush Chow, Chairman
Li Koce Chun, Esq. Li Lan Sang, Esq.
P. K. Kwak, Esq. WongChuson, E.
Wong Yun Toug, Esq. Kan Ying Po, Esq.
HEAD OFFICE:
18, PINE STRKEY,
NEW YORK.
SAFE DEPOSIT BOXES
སྐ།
SHANGHAI MARKETS
Beneficial Effect Of New Credit
SHANGHAI, Mar. 9 (Reuter) The announcement of the conclusion of a £10,000,000 cre- dit for China was: vern well re- colved in Shangbal's financial quarters this morning and all marketa reflected a, feeling of confidence such as has been seen here for some time: The effect of the announcement WAN 1103t pronounced in the Chinese Domestic market for Bonds, all issues moving sharply higher on the wave of buying which had been induced by the burst of renewed confidence in the Chinese Government. Gains at the opening averaged abund one dollar and, although the high levels attracted some proat-taking, the market maintained a very steady.appear- ance.
41
N
The local dollar also benefited and hardened in terms of both sterling and the U.S. dollar and, while improvement in exchange rates was only fractional, the un- derlying tendency was very firm.
One prominent exchange broker. when questioned by Reuter, describ.. ed the effect of the announcement as very beneficial" to Shanghal's
"Turrency,
CHINA AND SUPPLIES OF WOLFRAM
V
Apart from some technical and
chemical properties, it is chiefly
the
difference in price
policy
which has favoured molybdenum as against tungsten during the last five years. While the Climax concern has kept its price fairly stable around 40s. to 458. per unit, the Chinese wolfram monopolies have always favoured high prices.
As a result tungsten prices have Auctuated very widely, since 1933. and this has alienated "consumers to some extent. At the moment has ance the tungsten market
reached again
interesting stage. South China supplies two- thirds of the world's wolfram ore, and the Japanese invasion has now seriously endangered both production and export shipments.
an
The full 1938 figures have just become available, and they show that exports for the year amount- ed to 123,577 quintais, a decline of 41.601 quintals against 1937. As
An American Bank offering com-
plate Foreign Banking Servicethe 1937 figure was an all-time in the principal Markets of
peak, this decline is hardly sensa- the world.
tional. In the latter part.of 1938. Interest Rates on Application.
however, exports declined to very low levels, and in December they actually ceased altogether. This tendency may continue unless the Japanese follow the Chinese ex- ample of selling wolfram in large order to provide quantities in foreign exchange for financing- the war,
This Hank is entirely owned by
THE CHASE NATIONAL BANK, N&W YORK, with Resources over U.S. $2,500,000,000. ·
D. M. BIGGAR, ́1
Manager.
ChabChingBhek, Eaq. FongPing Wab Fac. KUNMING-LASHIO
Kan Toog Po, Esq., Chief Manager,
Li Tse Foog, Esq., Manager.
HIGHWAY.
KUNMING, Mar. 8
MARKET NOT PERTURBED So far the wolfram ore market is not perturbed by the Japanese occupation of the Chinese wol- fram areas. In fact, since the be- (Intginning of this year the quotation for Chinese cre (current ship- One stretch of the Kunming-
ments) has fallen from 59s, to 54s. Lashio highway is being, improv- ed and repaired, as it is so bad per unit, compared with nearly 130s. in September, 1937, and. only. that heavy lorries can move only 10s in January, 1933, the month. at a crawl. As soon as the re- Bemarang Vancouver pairs are effected, war material of Herr Hitler's accession to
Branches and Agencies :—
Kowloon London
A
Nagamats Now York Danka
Palpiz
Petang Bourabaya flagoon Swatom
Sydney Safzon Melbourne Han Fran. Kaikoku Disco Tertain
Seattle
Kakya Yokohama
Aoy fatavia Bombay Calestia Canton ItAiphoo Yukikow Honolula Party Kebe..
Shanghai
diegaporn
can be transported as usual,
Having travelled through this
power"
The United Kingdom's net im-
Every description of Banking line, Bishop Ralph Ward, American ports of tungsten ore fell from Anal Exchange business transacted missionary, has just returned from 8.670 tons in 1837 to 6,758 tons ir
granted
Loans securities
approved the on
1938, although consumption must World's Missionary con have risen in view of the increased armament activity. „Unlike,“ zli
ference at. Madras. He and
Current Accounts opened in Local seven companions were the other Great Powers, however, this Currency and Fixed Deposite re-foreign party to complete the ceived for one Fear or shorter
trip from Rangoon to Kun- periods in Local and Foreign Cur-
ming. rencies on terme which will be
"The engineers, have done quoted on application.
marvellous job,” he said.
They Safe Deposit Boxes To Let
are KAN TONG PO,
clever, especially in the Obal Manager.contruction of bridges and clear-
ing away. landslides
BANK OF CHINA'
Spesially Uhartered by
THE NATIONAL GOVERNMENT
OF CHINA AS AN- INTERNATIONAL EXCHANGE
* BANK
2
Four routes are now available from Rangoon as far as Lashlo, One is the
said the Bishop.
tallway. A highway paral-
FINANCE
SECURITIES AND COMMODITIES
Messrs. White, White & Co. have received, the following com- ments from Messrs, Carl M. Loeb, Rhoades & Co. on the various New York markets:---
SECURITIES
The action of the market was impressive, with high-grade issues in the leadership. Our opinions and recommendations re- main unchanged.
STOCK
Eagle Picher Lend
Freeport Sulphur"
FRIDAY, MARCH 10, 1939. -PAGE 13
PRESIDENT LINER
Sailings
FOR SAN FRANCISCO & LOS ANGELES
via SHANGHAI, KOBE, YOKOHAMA and HONOLULU *S.S. * PRESIDENT CLEVELAND" Sail Mar. 19th x 200 A.M. Mar. 25th at 4.00 P.M. *8. "PRESIDENT PIERCE “
EARNINGS
Period Yr. 31/12
1939 $488,733 Less $ 1.87
1937 $368,781 Front
#F
3.30
38. " PRESİDENT COOLIDGE** 8.S" PRESIDENT TAFT "
Apr. 8th at 8.00 AM.
19
Apr. 21st at 8.00 A.M.
DIVIDENDS
8.8. "PRESIDENT CLEVELAND
悔
May 5th at 800 À.M.
88. "PRESIDENT PIERCE"
* OMITS SHANGĦEAT
Coty, Inc. $0.30. General Mills two dividends; first $125, payable on April 10 and the second of $0.875, payable on August 1. The Chesapeake & Ohio Railway Company $0.50 per share, payable on April 1.
12
STATISTICS
Electricity Output (Edison Elec.
Inst.)
Week ended
25/2
4/3 2,244,000 2,226,600 (kilowatt hours-000's omitted)
3,332,000
3,325,000 (barrels).
Week erided.
WHEAT
Crude Oil Prod.
Continued poor foreign demand is encouraging liquidation.
COTTON
There was some trade buying on scale. Mr. Henry Wallace, Secretary of Agriculture, to-day announced that the Government has discussed four alternative plans, all aimed at reducing Gov- ernment stocks of cotton" through trade channels. Details have not been released.
די
RUBBER
HIDES
The market was neglected.
There was some commission house buying.
COCOA
Brazilian hedging was absorbed by commission houses.
H.K. STOCK EXCHANGE
The turnover was again rather small, but on the whole quotations are well maintained.
BUYERS
Hongkong Banks, $1385. Canton Ins.. $223. Union Ins., $4773.. HK. Fire Ins, $185. Douglases, $654. Wharves, $119). H.K. Docks (Old), $17ł. HK, Docks (New), $16.90. Raubs, $8.35.
H.K. Lands, $38 ex. Div. H.K. Trams, $17.
Yaumati Ferries (Old), $237. China Lights (Old), $8.85. Chiria Lights (New), $5.85," Electrics, $581.
Macuo Electrics, $174. Sandakan Lights, $10.50. Canton Ices, $1. Cements, $15.90. Ropes, $4.
Wing On (H.K.), $42. Entertainments, $7... Govt. 4% Loan 31% Prem. Govt. 34% Loan-Par.
SELLERS Providents (Old), $8.45, - Providents (New), $8.30.
SALES Hongkong Banks, "$1400," Underwriters, 50cts, Wharves, $120.
HK Docks (Old), $17). H.K. Docks (New), $17.-- Star Ferries, $871. China Lights (New), $0.
PHILIPPINE MINES Antamoks, P. 44). Atoks, Ps. 38. Babuto Gold, Ps. .284. Benguet Consol., Pa. 13.60. Coco Groves., Pa. 44 Cons, Mines, Ps. .003. Demonstrations, Ps. 13.
L X. L. PS. .67. San Mauricio. Ps. 2.25.
United Paracales. Ps. 70. Suyoc Consol, Ps. 21..
ecuntry is not vitally dependent HONGKONG na Chinese supplies, as Burma, Ma- laya, Australia, Southern Rhodesta, and the British-controlled Beralt mines in Portugal could cover all our requirements.
SHAREBROKERS”
ASSOCIATION
OIL PROPERTIES
IN MEXICO
Volume of Badness Transacted on Thursday, March 9
No. of
STOCK
HK Banks
Star Ferries
China Lights (N.) MEXICO CITY, Mar. 9 (Heuter) watsons..... lels the rallway, and thereThe Arst conversation between Underwriters
is a longer highway by the way President Cardenas and Mr. Rich Marahan (HE)
of Mandalay The Irrawaddy berg, of the Standard Of Co., Maraman Inc. ........ PAID-UP CAPITAL $40,000,000.00 River is the fourth route.
on the question of foreign oll Demonstrations (BRANCHES ALL OVER CHINA)-
properties in Mexico, took place itigons yesterday at noon in the National
Owing to our numerous Branches LANCASHIRE CLOTH: TRADE WITH CHINA
in China and connections in the principal Commercial Centres of the World, we are able to artand to our Clients special facilitim for Domestic and Foreign Banking and Exchange..
Head Office: SHANGHAI Hong Long Branch
4, QUÉEN'S BROAD, C. "South China Offices:
CANTON
KONGMOON TOISHAN:
SWATOW SHIVOHOW KINGCHOW
We also handle the imme, of Bonds and other Public Funds of the Chinese Government bath Home and Abroad.:
SHOU. CHEN,
Palace.
Suyoes
A statement issued after the Masbate conversation declared that both parties "consider that real pro
Shares Price
-2 $1,400.00
250
67.50
500
6.00
500
1,500
*F
[SINGAPORE STOCK
QUOTATIONS “
The following quotations of 12 leading Singapore stocks have been received by Messrs.. Ellis, and Edgar from blessrs. J. M. Sassoon
& Co.
'n
May 19th at 8.00 A.M.
AND FORTNIGHTLY THEREAFTER
FOR NEW YORK & BOSTON vis SUEZ
8.8. "PRESIDENT GARFIELD"- Sails Mar 17th at 18 NooN 8:8. PRESIDENT MONROE"
Mar. 99th at 9.00 PM.
AND FORTNIGHTLY THEREAFTER
FOR
MANILA
8.S." PRESIDENT GARFIELDTM S.S." PRESIDENT PIERON *
6.8 "PRESIDENT COOLIDGE" S.B. "PRESIDENT TAFT "
Sails Mar. 17th at 12 Noor
Mar. 18th at 6.00 PM.
ነገ
Mar. Slat at 9.00 PM. "Apr. 14th at 6.00. P.M.
AMERICAN PRESIDENT LINES
ROUND WORLD SERVICES
12, PEDDER ST.
THE
TEL. 28171.
CHINA-SIAM
HONG KONG-BANGKOK
LINE.
HELIOS" leaving Hong Kong 15th March via Swatow "HIRAM" : leaving Hong Kong 28th March via Swatow
HONG KONG-SWATOW---AMOY
leaving Hong Kong 16th March Accepting Passengers & Cargo for all the above metioned porta. HONG KONG-SINGAPOER-PENANG-RANGOON Regular Express Service
*.
Singapore, Mar. 3. RUBBER SHARES
...
Middle Price
· 20.8. "HAI HING"
Amalgamated Malay Estate
Ltd.
$1.45
Kempas Limited..... Kuala Sidim Rubber Co.,
· Ltd.
1.80
2.15
Pajam Limited
1.75
Sunge!
Bagan Rubber Estates Ltd.
1.32
Tapah Rubber Estate Ltd.... 1.72) TIN SHARES Petaling Tin Limited Bungel Luas Tin Dredging
Ltd.
6.671
$1.40
Tel.. 30337."
INDUSTRIALS
Straits Trading Co., Ltd. ... 25.80 United Engineers Ltd. (Ord) 8.70 Wearne Brothers Limited
GOLD
Raub. Australian Gold
Mining Co., Ltd.
4.75 c.d.
The above quotations are in Straits dollars.
EDMONTON.-Scattered trading
m.a. “HAI HING* leaving Hong Kong 22nd March Accepting cargo for all the above mentioned ports.
Excellent passenger accommodation available.
For freight, passage rates and all other information–Apply to:-
THORESEN & CO., LTD.
General Agenta.
"Queen's Building.
CONSIGNEES' NOTICES CONSIGNEES' NOTICES
DODWELL-CASTLE
NOTICE TO, CONSIGNEES.
LINE
M.V. "THURLAND CASTLE' From U.S.A. vis MANILA.
MAERSK LINE.
NOTICE TO CONSIGNERS
THE MARCHEN MAERSK·”
having arrived from New York and
Dosts and settlements of Canada's CONSIGNEES of Cargo are hereby Ports of call Conductor Cords are
North West Territories are" asking representation in Dominion pazila- ment. Petitions dire circulated by zirplane. At present the affairs of the Territories" are in charge of a government, administrator.
•
•
TORONTO. With 10,000,000 pounds of an 83,000,000-pound to- bacco crop unsold after the 1938 harvest, Ontario growers are plan- ning to cut acreage from 67,000 to 52,000, in 1939. The growers" mar- keting board fixed a minimum price of 22 cents a pound for the 1938 crop-Canadian Press.
CONSIGNEES NOTICE,
THE BEN LINE-STEAMERS, LTD,
* LEITH, MIDDLESBRO,
ANTWERP, LONDON AND STRAITS
Co
THE 5.8. BENGLOE" YONBIGNEES of Osigo are hereby informed that áll Goods are being landed at their risk into "the hazardour 8.00 and/or tan hissedojne Godowns of the HORG KOND AND HOWLOON WHAKE RED, 0.50
GODOWN COMPANY, Gray whasoś and for 400 85 d3
from the wharve Delivery may be 100 Pa.51.00 obtained.
admitted after the Bodowni,
3,000
10,000
2
8,000.
4,000 5,000
0.12
No Claros
will be 0.391 Goods have left the
... 0:33 Goods rusalking undelivered after the | 14tir Már, 1939, will be iubject to Yeurt, 0.21
All Claime against the Biéditer mittit 0.15% be pramented to the Undersigned as or [before the 28th Mar,, 1880, or they will
not be recognised P
No.30
LONDON, Mar. 8. (Reuter)- Mr. B. 8. Hudson, Secretary for Overseas Trade, was non-committal gress was made." They will meet Philippine Gold Mining Quotations when he was questioned in the again to day at noon, |House of Commons on the steps
Antamoks Atoks ********
he was taking to ensure the suc- cess of the negotiations between WINNIPEG-Land will be pur. | Bagulo Gold ........ the Chinese Government and chased near The Fas, 350 miles Benguet Consol Lancashire traders foragi
large north of here in the Manitoba min- Coco Grove... amount of cotton clothing country, for establishment of Consol Mines
Mr. Hudson said that he una model co-operative farming Demonstrations derstood that tentative inquiries community, peopled by Canadian L XL
In
Thursday, Mar. 9.
441
this connexion had been war veterans and their families San Mauriclo made recently but it was conThe settlement scheme is endorsed Buyoc Consol trary to the practice of his de- by The Paz branch of the British United Paracales partment to disclose the details. Empire Legion,
To comply with the General Bonded Wazabouse - Regolations, consigneer must have Revenue Officer in stieni. gance when damaged dariable goods 284
All broken; skaded, and damaged Good 13.60 are to be left in the Godowas, where 44 they will be examined on the 13th Mar, 003 1888, at 9 am by Hesies, Carmichael
AVTO Tua: Ingerasie kaa haan affected: VÁ Đệ Bill of Lading will be beansidered by 225 W.BLOXLEY-BIC«. (CHINA) LTD.
70
Market Comment Steady.
Hong Kong, 7th March, 1939,
1902
informed that all Goods are heroby notified that their are being landed at their risk into the being landed and placed at their risk into Godowns of the Hongkong and Kow. the Hong Kon and Kowloon Wharf & loon Wharf & Godown Company, Ltd, Godown Company's godowns at Kow. at Kowloon, whence and/or from the joon, where delivery may be obtained as wharves delivery may be obtained. soon as the goods are landed.
Optional cargo will not be landed Optional cargo will not be landed here, unless notice has been given 48 here, unless notice has been given 48. hours prior to vessel's arrival, but car bars prior to vessel's arrival, but ried on from port to port to the final carried on from port to port to the final port of call to which the option port of call to which the option
extands extends
No claims will be admitted after the No Claims will be admitted after Goods have left the Godown, and all the Goods have left the Godowns, and Goods remaining undelivered after all Goods remaining undelivered after the 10th inst, will be subject to rent the 11th. Mar, 1919, will be subject to
All claims against the vessel must Bant
be presented to the undersigned on or All broken, chafed, and dainaged Goods before the 17th inst, or the w
wil are to be left in the Godowns, where not be recognized.
they will be saamined on 10th Mar,, 1959,
All broken, chafed, and damaged at 10, by our Surveyor Messrs. Goods are to be left in the Godowns Goddard & Douglas. where they will be examined on the To comply with the General Boaded 9th inst, at 10 a.m. by our surveyors Warehouse Regulations consignees Messrs. Goddard & Douglas,
must have a Revenus Officer in attend-
In the case of dutiable cargo, con-ance when damaged dutiable goods are signees are requested to inform the examined. Imports & Exporta Office that they bare such goods for examination.
No Fire Insurance has been affected. Bill of Lading will be countersigned by
DODWELL & CO., LTD.
Agente.
Hong Kong, 3rd March, 1939.
All claims must reach us before the 11th April, 139, or they will not be recognised,
No Insurance will be affected. Billa of Lading will be countersigned
JEBSEN & CO.,
Agents. [185 Hong Kong, 6th March, 1989.
Get the world's good news daily through THE CHRISTIAN SCIENCE MONITOR
An International Daily News;
Pablished by
THE CHRISTIAN SCIENCE PUBLISHING SOCIETY One, Norway Street, Boston, Machusetts Regular reading of THE CHRISTIAN Beckson MONITOR is considered by many liberal education. I'm clean unbiased news and well-rounded editorial features, inclu- ding the Weekly Magazine Section, make the MowrOS the ideal howspaper for the bote. The prices Are: (U. 8. Money on m
1 year $11.00 6 months 0.00 3 months sado a adoth $1.00 Wedneíday issue, including Magazine Bection: Fear $2.00 -6′isense. £56, and the paper is : obtainable at the following location.
CHRISTIAN SCIENCE READING BOOM First Church of Christ, Scientist,
Miodonball Road,
Hong Kong.