HONGKONG DAILY PRESS
BANKS
HONGKONG AND
SHANGHAI “BANKING
CORPORATION
Authorised Capital ....................880,000,000
THE
CHARTERED
BANK OF INDIA, AUSTRALIA & CHINA
Issued & Fully Paid-Up 20,000,000 Incorporated by Royal Charter, 1858 Reserve Funds:
Sterling
H.K. STOCK
EXCHANGE
The market has been a little dis- appointing during the week in view of the fact, that although quotations have remained stendy with a fair enquiry, the turnover on the whole has been on the small side. The rise yesterday of, 54 ip the London quotations for HR Banks was "redected incally in a
...£6,500,000 Paid-up Capital www.an 23,800,000 | demand for shares, business being B.K. Currency Reserve $10,000,000 Beserve Fand............... £3,600,000 ₫ reported up to $1455, a gain of $55 Reserve Liability of
Reserve Liability of Pro-
Proprietors
.$20,000,000
Head Office:-HONG KONG
Board of Directors. Hon. Mr. A. L. Shields,
Chairman.
Deputy Chairman.
W. H. Lock, Esq.,
J...K.. Bousseld, Esq., A. H. Compton, Esq., Hon. Mr. S. H. Dodwell,
G. Miskin, Esq.,
K. S. Morrison. Esq..
Hon. Mr. J. J. Paterson,
T. E. Pearce, Esq.,
H. V. Wilkinson, Esq.,
Sir Vandeleur M. Grayburz,
during the week. Cantons. EK prietors....... £3,000,000 | Fires and Unions have found rondy
HEAD OFFICE: LONDON: 38, Bishopsgate EC3. Sub-Agencies in London: 117/122, Leadenhall Street, EC.3.
West End Branch: 14/18. Cockapur Street, S.W.1. Manchester Branch:
71, Mosley Street, Manchester.
AGENCIES AND BRANCHES ; ALOE STAR HARBIN
·AMRITSAR
BANGKOK.
BATAVIA
BOMBAY
PENANG
• HONG KONG RANGOON
SAIGON BERIMBAN
ILOILO "POB
KARACHI
ILANO
BEANGHAI SINGAPOR SITIAWAN BOURABAYA TAIPING
TIENTSIN
AOINGIES: KO
CLIVE BENT
FAIRLIE PLACE KUALA
CANTON
CAWNPOR
LUMPUR
Chief Manager.
CAICUTTA
Branches:
Amoy
Ipob
Penang
Bangkok
Johore
Rangoon
KUCHING
Hatavia
Kobe
Bombay
Kowloon
Saigon San
CEBU
MADBAR
COLOMRO
Qalentta
Kuala
Francisco
DELEI
MANIA MRDAN
ra
Canton
Lumpur Shanghai
HAIPHONG
Chefoo
London
Singapore
Colombo
Lyons
Sourabaya
HAMBURG HANKOW
Dairen Malacoa Sungei Foochow Manila Patani Haiphong Muar Swatow Hamburg (Johore) Tientsin Bankow Mukden Tokyo Harbin New York Tsingtao
Yokohama Hongkow Pelping
tloilo
Current Accounts opened Local Currency and Fixed Deposits received for one year or shorter periods in Local and other Cur- rencies on terms which will be quoted on application,
Also up to date 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. Rales may be ob
tained on application.
For the HONG KONG & SHANGHAI
BANKING CORPORATION.
V. M. Grayburn,
Chief Manager.
Hong Kong, 25th Feb, 1830.
NEW YORK PEIPING
(Peking)
TONGKAR
(Bhuket)
TSINGTAO
YOKOHAMA
FOREIGN EXCHANGE and General Banking Business transactad.
- CURRENT ACCOUNTS opened and FIXED Deros178 received for Ora Year or shorter periods in Local or Other Currencies at rates which will {be quoted 'on application. ·
Bavings Accounts also opened in Local Currency and Sterling with interest allowed at rates obtainable on application.
The Bank's Head Office in Landon 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
18, QUEEN'S ROAD CENTRAL
„HEAD OFFICE:
18, PINE STREET,”
NEW YORK.
BANK OF EAST ASIA, An American Bank offering com-
LIMITED
Authorised Capital $10,000,000.00 Paid-up Capital ........ 5,508,800.00 Reserve and Undivided
Profits
Board of Directors:
Sir Shouson Chow, Chairman
Li Koon Chun, Esq. Li Lau Sang, Baq. P. K. Kwok, Esq.... WongChuson, Esq. Wong Yan Tung, Esq. Kan Ying Po, Esq. ChanChingBbek, Eng. FangPing Wah Eng.
plete Foreign Banking Service in the principal Markets of the world.
Interest Rates on Application.
D. M. BIGGAB,
buyers at $225, $185 and $439 respectively. Closing tone quiet but steady.
BUSINESS DONE DURING
THE WEEK Hongkong Bank, $1420, $1415, $1400. $1410, $1400, $1420. Bank of East Asia; $65). Canton Insurance, $220, $222.
$221.
Union Insurance, $478, $480. China Underwriters, $0.50. Hongkong Fires, $185. Douglases $65).
Wharves, $117, $119; $120, Docks (Old), $17), « Dock (New), $153, $17. Providents (Qld), $3.45: Hotels, $8.90, $6.85, $84. Lands, $36), #37.
Tramways,
$17.
$17, $17.15,
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 report that Chile proposes a tax on copper caused general. proat-taking, which was well absorbed. There was more interest in oil issues, which are intrinsically cheap and enter- ing the best season.
STOCK
Borden Company National Dairy Crane Company
EARNINGS
Period Yr. 31/12
1938 $ 1.81 .5 1.69 $1.53
$380,898 $9,765,126
1937 $1.43
STATISTICS
Week ended 25/2
Week ended 4/3
561.000
π
76.8
76.7
WHEAT
Carloadings (Assoq, of American
Railroads) Department of Labour's Whole-
sale Commodity Price.
A dull and featureless market.
COTTON
599,000 cars
There was some short covering and trade buying on the Sen- ate Agricultural Committee's approval of the Smith BIL
N
"
RUBBER There was some Fästern selling, but this was readily absorbed.
HIDES
Trade sentiment is improving.
COCOA
SATURDAY, MARCH 11, 1939. -PAGE 13
PRESIDENT LINER
SAILINGS
SPECIAL RETURN FARES HONGKONG TO THE UNITED STATES EFFECTIVE IMMEDIATELY FOR SAILINGS beginning with
8.S. PRESIDENT PIERCE "May 19th
~ and including all sailings up to
8.S. PRESIDENT ÜLEVELAND October 21st Return Limit Six Months,
MINIMUM ROUND TRIP FARES
8.8. PRESIDENT COOLIDGE
First Class Special Class
First Class
Tourist Clase
382.00
San Francisco Los Angeles US8637.00 US$652.00 390.00
-592.00
322.00
8.8, PRESIDENT CLEVELAND, PIERCE and TAFT
607.00
330.00
AMERICAN PRESIDENT LINES
ROUND WORLD SERVICES
TEL. 28171.
A quiet market.
$17.10 WEEKLY RETURNS
AND REPORTS
BANK OF ENGLAND
London, March > (Reuter).
Maz. 1
12, PRODER ST.
£
Mar 9 ↓
.11,640
11.450.
110,360
97,420
Other Accounts. Total
36.540
35,800
148,010
133,220
Government Securities
99,050
Other Becurities:—
Discounts and Advances
6,350
3,360*
Securities
22,400
22,400
"Total
28,760
25,760
Notes and Coins
49.970
47,900
Total Bullion
227,420
227,070
473,450
479,180
Ratio of Reserve to Liabilities
*Correct.
$0.08%
33.10%
Star Ferries, $671, $87.85, $67). China Lights (Old), $8.70. .. China Lights (New), $6. Electrics, $58), $584, $58,65, $58). Dairy Farma, $251, $26, $284. Watsons, $7.90, $7.95, $8. Matsmans (London), 15/8./ Marsmane (HK), 4/7), 5/-. CLOSING QUOTATIONS—3.30 PM CHANGES
BUYERS
Union Ins., $475. ». H.K. Fire In 3188. Watsons, $8.15. Marsmans (HK), 5/3.
SELLERS
Providents (Old), 38.45.. Providents (New), $6.30.
SALES
Hongkong Bank, $1400/55. Canton Insurance, $225, HK. Docks (Old), $173/.85 Raubs, $8).
H.K. Tradways, $17/17,10,' China Lights (Old), $3.85. Watsons. $8/8
HONGKONG
SHAREBROKERS'
ASSOCIATION
STOCK Union Ins.
Volume of Business Transacted on Friday, March 10
No. of Shares Price 141 $480.00 25 ·485,00 67.50 6.85 23.00
2,776,726.76
SAFE DEPOSIT BOXES
Star Ferries Hotels
300
1,000
Head Office: HONG KONG No. 10 Des Voeux Road, Central,
This Bank is entirely oward by Telephones (0.).
Tas CHABE NATIONAL BANE, Watsons NEW YORK with Resources over 1.8. $2,500,000,000.
-800.
500
8.15 8.30
1,000
8.65
2,000
8.75
Manager.
.500.
8.80
(Apr. delivery) 500
San Mauricio
1,000 (Mar. delivery) 300 25 Indo-China (Del.)...
(Pret.) 25 5,000
136
8,50 8.90 8.80 20.00 50.00.
3.824
1,000 Ps.2.25"
Atoks
2,000
.. 0.38.
Street,
1.X.L..
1,000
0.87
5,000
29.00
£1,200,000 £1,050,000
21,273
Kan Tong Po, Esq., Chief Managor: " Li The Fong, Eaş., Manager...
Branches and Agencias :---
Panaly Ragoon
Balgon Melbourne Ban Tran- Nagmaaks
Amoy Babayta Bombay
Kowloon
London
Hands
Valostia
Опас Halphong Buikow Homolata Kabe
Sourabaya Swktow Bydney Taiboks Tientsin TOLTO
New York Seattle
Bemarang Vancouver Par
Shanghai Tokohama Paiping Bingapore
..
THE MERCANTILE BANK OF INDIA, LIMITED
Head Offco:~15, Gracechurch
London, EC.3
Authorised Capital
Jabaribed Capital
Pald-up Capital
Reserve Fund and Hest,”
BANKERS:
The Bank of England and Midland
Bank. Ltd. BRANCHES:
Bangkok
Every description of Banking and Exchange business transacted. Loans granted од approved securities
Current Accounts opened in Loan Bombay Currency and Fixed Deposits re-Calcuti
Colombo ceived for year or shorter Deni periods in Local and Foreign Cur-Galle rencies on term which will boongkong
Howar
оде
quoted on application.
Sale Deposit Boxes To Let
KAN TONG PO,
Chat Kanager.
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE
RANK PAID-UP CAPITAL $40,000,000,00 (BRANCHES ALL OVER CHINA) Owing to our numerous: Branches in China and connections in the principal Commercial Centres of the World, we are able to extand to our Clienta special facilities for Domestic and Foreign Banking and Exchange..
Head Office: BHANGHAI Hong Kong Branch:
4, QUEEN'S ROAD, C. South China Officea
CANTON
SWATOW
SHIUCHOW
KONGMOON TOISHAN KINGOHOW
We also handle the issue of Bonds and other Public Funds of the Chinese Government both, at Home and Abroad.
SHOU JOHEN,
Manager
"
Ipoh Kaantag Kandy
Demonstrations
Public Deposits Other Deposits:---
Bankers
...Notes in circulation
FEDERAL RESERVE SYSTEM
New York, March 9 (Reuter).
Bila Bought
U.S. "Securities held
Federal Reserve Ratio:
Federal Reserve Credit Outstanding. Monetary Gold Stock Industrial Advance
BRITISH TRADE AT STANDSTILL
Chefoo & Weihaiwei Difficulties
14,888,000 .. 14,923,000 14,688,000 $14,132,000
Lloyd
Friest
FORTNIGHTLY"
EXPRESS SERVICE
FAR EAST-INDIA--YTAKT
Hongkong-London 23 days Hongkong-Italy
21 days
SCHEDULE OF SAILING FROM HONGKONG
TO MANILA, SINGAPORE, COLOMBO, BOMBAY, EGYPT"
#ITALY
TO SHANGHAI
18th Mar.
(000's 'omitted) 1,000' 3.564,000
84.86%
2,580,000
1,000 2.564,000 84.47% 2,565,000
ILT. "VICTORIATM
23th Mar.
m.v. "VICTORIA"
"CONTE VERDE"
7th Apr.
a
"CONTE VERDE 31st Mar.
. "C. BLANCAMANO" 29th Apr.
a.
C. BIANCAMANO” s3rd Apr.
B.
5th May...
20th May.
LAST MINUTE CHANGE
North China And National Currency
LONDON, Mar. 9 (Reuter)—Asked PEKING, Mar 10 (Reuter) whether he was aware that British A last minute change. in the plan trade in Chefoo and Welhafwel to make old National currency were at a standstill owing to the legal throughout North China refusal of the Japanese authorities from Mar. 11, was made yes- to permit cargoes to be exported terday when the -Provisional unless they were financed through Government announced that from the Yokohama Specie Bank, Mr. Mar. 11 North China" would be R. A. Butler. Under-Secretary for divided into two zones for cur- Foreign" Anairs, replying to the rency purposes--the Federal Re- question in the House of Commons serve Zone and the "Bandit" yesterday, said: "Yes and
the zone... Foreign Secretary (Lord Hallfax)
The Federal Reserve Zone' was is in communication with Sir limited to eleven towns in Ho-j Robert Craigle, British Ambassador el, Shantung. Shansi and Ro- in Japan, in regard to the whole nan, including Peking. Tientsin. question of the trade and exchange Tsingtao and Chetco, where control measures which have been people found to be carrying old introduced in North China ports." currency were liable to a fine and property confiscation after Mar. 11.
0.13 OUTLOOK IN Mambulao Consol....10,000 0.20
THE MOTOR INDUSTRY:
Philippine. Gold Mining Quotations
Antȧmoks
444
381
27
For the year ending September 30, 1938. the output of both private
and commercial vehicles.
13.60 showed a decline compared with
Friday, March 10.
Atoks......
1 Madra
Baguio Gold
New York
Benguet Consol
Penang
Coco Grove
the previous year, for the first time
Hangnam
#hanzha
134
since 1931 in the case of private
'Kuala Lipia
Simla
IX.L
68
Kuala Lumper
diurspers
Kaala Trenggan
Paracale Gumaus
151
HONGKONG BRANCH.
San Mauricio
Karachi
Kota Bhar
Demonstrations
Every dooripiden of Banking and Exchange | Buyoc (Caniol.
niness transacted.
Travellers Chequer · Laimed,
TRUSTER AND EXECUTORSHIP UNDERTAKEN.
CURRENT ACCOUNT opened in 1ool Car erky and PIXED DEPOSITs received in Loent Carrency, STERLING & U, S. DOLLARS on terma awowtained on application.
D. BENSON,
People Who Matter
PEOPLE WHO
MATTER, to the advertiser are
the people who can afford to buy,
his goods. Most
of these people
buy and read the
Hongkong Daily Press.
The order says that the circula- tion of Federal Reserve currency will be extended to other places as the Japanese military operations extend.
CONSIGNEES' NOTICE.
From LEITH, MIDDLESBRO', ANTWERP LONDON
cars and since 1932 in that of com-THE BEN LINE STRAMBES, LAND. mercial vehicles. The fall in the 2.25 case of private care amounted to 12.1 per cent, and in the case of commercial vehicles | to 10.9 per cent., in comparison with increases in 1937, compared with 1996 of 10.4
214
United Paracales
71
Market Comment—Quiet.
AND STRAITS
*
THE S.8. BENGLOE.” "NONSIGNEES" of Cango-are-haruby
landed at their risk into the hegedoen
per cent, and 9.8 per cent, respeed what All Goods are being
tively."
To
With the General Bonded
BANK OF FRANCE fall in production in the past and/or astus hardous Godoms of the NOTE CIRCULATION your was not altogether unforeseen, Hoke Koss D Kowloon WRAST S and it was pointed out in them. Godown Colerain, staro, iwhanze and/or PARIS, Mar. 9 (Renter) The re- articies last year that the general from the wharm Delivery may be turn of the Bank of France for the increase in the cost of living, obtained. week ended March 1, shows Gold coupled with the price increases
*No Clube will be som
after the reserves totaling $7,268,000,000 made by the majority or motor Goods have left the Godowns, and all Francs of Gold content 27.5 milli- manufacturers, would probably re- 14th Marų 1939, will be subject to rent Goods remaining undelivered after the grammes, showing no change from mult in some reduction of demand. All Claims against the Steamer manaj the previous week.
The high level of raw material be presented to the Underagued on at The total note circulation is prices and the fact that comes before the 28th Mar., 1930, or they will given as 114,155,000,000 Francstion has been still further intens: not bracogniazdam show an increase of 2,993,000,000 ned by the introduction of new Warnhouse Regulations
comply Francs, as compared with the pre-models by several firms has result- must haves Aereane (Jfficer in sign vious week.
ed in a more serious drop in the soon when damaged
red datable prouts of most of the leading are examined,
All broken, chafed and damaged Goode manufacturers than would have
be examined on the 13th Mar, BERLIN, Mar. 9 (Reuter) The been expected solely on account of to be left in the Godown whe 1939, at 5 am, by Mem, Carmiabuel return of the German Reichsbank, the fall in output.
Clarke for the period ended February 27, gives the total note circulation as 7,737,000,000 Reichsmarics, showing 6 decrease of 202,000,000 Reichs marks as compared with the period ended February 19,
HEICHSBANK NOTE 'CIRCULATION DE
The effect of falling demando Tire Insurance has been
of course, always particulary severe Bill of Lading will by coun
sed by in a mass-production idustry much w, E. LOXLEY & CO. (CHINA) Lmn. as the motor trade, since a high
proportion of total manufacturing Hong Kong, Zih) costs consists of overheads.
1989
"CONTE ROSSO". 12th May. "CONTE ROSSO" m.r. "VICTORIA" 27th May .. "VICTORIA”
LLOYD
TRIESTINO
PO. Box 143, Tel. Address "Lloydiano"-Telephones 32082 Passenge
32983 Freight.
HAMBURG-AMERIKA LINIE
Far Eastern Mail, Passenger & Freight Service
Through bookings to America via Europe and Exrope via America. Bookings around the world. Through bookings to Tondon.
OUTWARD SAILINGS 8.4. "NEUMARK*........... for Shai,, Dairen, Taku, Y'hama.
Kobe, Osaka.. *m.v. "RAMSES”.........tor Shanghai, Dairen, Y'hama,
Kobe
..th. Mar. m.r. KULMERLAND * for Shanghai, Dairen. Taku,
Tsingtao, Y hama, Kobe, Oraka Bib April HOMEWARD SAILINGS
m..BURGENLAND" for Genoa, B'dam, Bamburg ... 22nd Mar. "OLDENBURG”/1.Genos, A’'warp, B'dam B'bug....30th Mar. «m.y, “RAMSES"......for Genos, Antwerp, E'daw, H'burg 25th April *Freighter with Passenger Accommodation.
For further particulars and passage fares, etc, apply to:-
HAMBURG-AMERIKA LINIE
JEBSEN & CO., Anawen.
18, Fødder Street, Tel. 31205-8,-
CANTON AGENTS: CARLOWITZ & CO., Shakee Rond
MAERSK LINE
Fast regular FREIGHT and PASSENGER SERVICE
"HHANGHAI 214 JAPAN
LOS ANGELES, PANAMA, NEW YORK, BOSTON PHILADELPHIA & BALTIMORE.
Il sufficient inducement offers also, other porta of culk Arrivals from - UBA
April
MY. "HULDA MAERSK” MVMARCHEN MAERSK ".. M.V. HACADIA PAR M.V. MANNA MAERSK".
Bailings to DBA
17th Mar, 17th Mar.
7th April
voje ((All dates are subject to alteration without notics.)
ĮBYUEULENT ACCOMMODATION FOR PASSENUKĘS AT MODERATE RATES.
Tor Freight and Passage please apply 1---
JEBSEN & CO.
Canton Shansen, B.G. Agents Bong Kong Pedder Buikling:
Ta 10016,
Tel 31205-6. Bwatow Agents GEBR ROESE, Fel 1663