HONGKONG DAILY PRESS
Finance and Commerce
FINANCIAL CONFERENCE: IMPORTANCE OF CHINA'S ECONOMIC DEVELOPMENT
CHUNGKING, Mar 18 (Cen-
tral) The second conference on local finances called by the Ministry of Finance In Chung- king has been adjourned
It is understood that important Anancial question relative to the increase of production, promotion of export trade, stabilisation of export trade, stabilisation of com- modity prices, supply and distrida- | tlot of food, and development of economic resources as well as measures to counteract Japan's economic blockade and disruption of China's currency system were thoroughly discussed at the con-
ference.
H.K, & WHAMPOA DOCK CO., LTD.
FINANCE
H. K. STOCK EXCHANGE
A large tumover was erected to-day in Banks at $1400/1420,
Hotels at $61. Old Docks at $104.
Lands at $381, Trams at $16.90, Electrics at $561/58), and Watsons The following is the "report ofļat $9.10/9.20. The market closing
1
BUYERS
the Hongkong and Whampoà Dock with a firm undertone. Co., Ltd., for the year ending Dec.} 31, 1938. to be submitted, to the strength in various places for the shareholders at the ordinary year-
benefit of the country.
ly meeting to be held in the 'com- pany's town office at Queen's Calling attention to the fact
Building, Hongkong, on Monday,) that the success or failure of Mar. 27, 1939, at noon. ! China's currency policy would
affect the economic, life of the The gross profit on, working for whole nation, the manifesto urged the year ending Dec. 31, 1938. is! the various provinces, districts, $2,121.023.04. counties and financial bodies to co-operate closely to support the execution of the policy.
Fees
After adding Scrip
and deducting Interest, Rates, Crown Rent. Insurance, Directors' and In order to defeat the Japanese Auditors' Fees and allowing the economic penetration in the war sum of $204.419.28 for Depreciation, areas, China, should, on the one the net profit for the year 1938 is hand, prevent the Japanese from 31,605.471.92; which added to the establishing their economic basis amount brought forward from last | and controlling currency and, on
year $123.950,55. Leaves available a sum of $1.729,422.47. the other hand, absorb all the
Which the Directors recommend
In a manifesto issued, the bankers | economic facilities and resources · and officials who attended the for her own use. the manifesto to be appropriated as follows- conference pledged their utmost pointed out,
efforts to enforce the resolutions passed by the conference in order) to hasten local economic develop-i ment and increase China's power of resistance.
To pay a dividend of. 8% per annum or 60 cents per share on old shares $121,752.00; to pay a div!-
A GOOD OPPORTUNITY Agreeing with Generalissimo dend of 6% per annum for half; Chiang Kai-shek's statement that year on new shares $45,657: to pay Japan's economic blockade affords a bones of 4% per annum or 40 cts: 1 good opportunity for China's per share on old shares $81,168: to economic revival, the manifesto pay a bonus of 4% per annum for The manifesto stressed the im- urged that the ability and strength half year on new shares $30.438; to portance of economic mobilisation of the nation should be mobiilsed place to special reserve for exten- In modern warfare and the necessity to develop China's agriculture.sions $350,000: to place to general
ECONOMIC STRENGTH
of strengthening the financial mining and other industries so reserve $50T,300: to write
down organs and improving their opera- as to place her on a self-sufficient stocks $150,000; to pay a bonus to tion. While, negatively, measures basis. A good example" in this staff $70,000 and to carry forward should be devised to prevent the connection 19 China's energetic to new account $373,107.47. Total: circulation of bogus notes and the exorts in the development 01 | $1,729,422.47,
utilisation of the economic re- communications in the Southwest sources by the enemy in the war and Northwest in spite of Japan's areas, positively. efforts should be destruction and occupation of her! exerted to develop productive communication lines in the war enterprises and rally the economicį areas.
HONGKONG
SHAREBROKERS’
ASSOCIATION
Volume of Business Transacted on Thursday, March 16
No. of Shares Price
1.100
$25.75 400 58.50
STOCK
Dairy Farmis
Electrics
UNION INSURANCE
SOCIETY
OF CANTON... LTD.- Subject to audit the Directors will recommend the payment of a Anal dividend of 155. (Afteen shill-
ings per share in respect of the year 1938. The ordinary yearly meeting of the Society will be held on April 21.
4
56,80 U.S. TO ENTER.
100
50.75
33
Hotels (ex. div.)
500
6.25
HK. Docks (0)
800
10,25
Watsons
500
9.10
Lands
100 36.50
Yaumati Ferries
Providents (0) ......
Trams
Sandakan Lights
United Faracale
EX.L.
Suyocs
200 25,00 500 0.01 100 17.00 300 11.10 10,000 Ps.0.77
9,000 10,000
.. 0.65
020
LONDON GOLD
London, March 15 Reuter)..
Bar Gold, Fine per oz.. 148/54. Dollar Parity. id. premium.
DIRECTORS
In accordante with Article No. 961 of the Company's Articles of Asso- ciation. Messrs. J. H. Jessen and B. T. Williamson retire by rotation and cffer themselves for re-elec- tion.
Sir Robert Ho Tung retired from the Board and the Hon. Mr. M. K. Lo was invited to jom in his place. This appointment requires con- firmation at this meeting.
Hon. Mr. Stanley H. Dodwell has been appointed Chairman for the year 1939.
AUDITORS
The accounts have been audited by Messrs. Lowe. Bingham & Mat- thews and Messrs. Percy Smith,
+
11
Canton Insurance, $225. HK. Fire Insurance, $195. Douglises, $0. HK. & K. Wharves, $118). H.K. Docks. (OMC), 194.
HK. Docks New), 184. HK. Realtica, $1.80.
HK. Tramways, $18.90, Yaumati Ferries (Old), $241. Sandakan Lights, $11.10. Telephones (Old), $22.70. Telephones (New), $7) Canton Ices, $1. H.K. Ropes, $4,10 Watsons, $9.10.
Wing On (HK), $46. Entertainments, $7.
HK Govt. 4% Loan 4%p.m. HK Govt. Par.
SELLERS
Union Insurance, $485.
H. & S. Hotels. $6.35 ex div.
China Lights (Old), $9.90.
HK. Electries, $57. Macao. Electrics, $18.
Sandakan Lights, 311.30. Watsons, $9.20.
SALES
Hongkong Bank, $1400/20. HK. Docks, (Old), "194. HS. Hotels, $81. H.K. Lands, $364.
HX. Tramways, $16.90.
Yaumati Ferries (Old), $25. HK. Electrics, $564/7. Macao Electrics, $184. Sandakan Lights, $11.10. Watsons, $9/6.10.
PHILIPPINE MINES Antamuks Ps., .431. Atoks Ps, 39.
Baguio Gold Ps., 27.
Benguet Consolidated Ps., 13,60, Coco Grove Ps, 46
Demonstrations Pa., .15.
I. X. L. Ps.. .55.
Paracale Gummus Ps.. .16 San Mauricio Ps., 2.20." Suyor. Ps., 201
United Paracale Ps., 77.
BRITISH TRADERS'
COTTON MARKETS Seth & Fleming who retire and INSURANCE CO., LTD.
12
offer themselves for re-election.
12
FINAL DIVIDEND
Subject to audit the directors will recommend the payment of a dividend of 7s. (seven shillings) per share for the year ended 31st De- cember 1938.
WASHINGTON. Mar. 15 (Reuter)
Mr. Henry. Wallace, Secretary for Agriculture, stated at the Cotton Standards Conference that the United States would soon enter the world cottch markets on a com-
The Chartered Bank of India, petitive basis, but he declined to Australia and China (H.K. Branch) say whether the plans now under received the following telegram re- consideration involved a direct ex-ceived from the head office in Lon-te merchants in Cheklang pro- port subsidy. He added that den: specific plan was up to the Con- gress.
r
With a view to aiding Chinese"
vince to enable them to make On March 29, at the Annuallerge purchases, the "Cheklang meeting of shareholders, Directors Tea General Transport and Bales A later report from Washington will recommend a final dividend at Bureau". and the "Cheklang stated that President Roosevelt the rate of 10% per annum subject Wartime Trade Committee' signed the Jones Bill, permitting to Income Tax, £35,000 added to contemplating granting a sum of the re-allocation of unused cotton. Pension Fund, and carried forward $10,000,000 as credit, loans to the acreage allotments.
£179.094 89. 2d.
tea merchants.
dre
DEWAR'S
THE
WHISXY
WHITE LABELY
SOLE
FRIDAY, MARCH
A. 8. WATSON & CO., LIMITED.
AN
荒可用耐油漆機駝覧
PAINTS, ENAMEL 8.
VARNISHES & SPRAY LACQUERS
DURABLE & ECONOMICAL
MANUFACTURER OY
THE NATIONAL LACQUER'& PAINT PRODUCTS CO., LTD.
"KING'S ROAD, HONG KONG, TEL. 361-2 ||
品出司公限有油漆燒選民國
*
Shumchun Rural Welfare
Centre
We need Rice and Vegetable Seeds
Fertiliser Farm Implements-Animals
'"
for the Refugee Farmers to return to
THE GOOD EARTH
Please send all monetary donations to:
Hon. Treasurer: Mr. J. M. Tan,
Cô Wong Tan & Co.,
Alexandra "Buildings,
Des Voeux Road.
Hong Kong.
All contributions in kind tow
· Hon. Secretary: Mr. K. S. Lo
C/o Eu Tong Sen Ltd., 109; Queen's Road,
Hong Kong.
Tel. 21988,
17, 1939. -PAGE 11
LAMMERTS AUCTIONS
PUBLIC AUCTION. -
THE Undersigned have received
instructions
to sell by
PUBLIC AUCTION.
ON
FRIDAY, the 17th MARCH, 1939.
Commencing at 10.30 am.
At their Sales Room, No, 2. Con- naught Road, Central (Room No.
205, 2nd Floor).
200 Pairs Gentlemen's Shoes and.
and Boots
210 Alberts
60 Lockets
8 Wristlet Watches
1 Shawl
1 Teacloth and 6 Serviettes
معلم
A Quantity of Wines and Beer (Small Lots)
Terms: Cash on Delivery.
LAMMERT BROS.,
AUCTIONEERS.
PUBLIC AUCTION.
THE
HE Undersigned have received
instructions
TO SELL BY
PUBLIC AUCTION
ON
SATURDAY, the 18th MARCH, 1939
Commencing at 10.30 am.
At their Sales Room, No. 2 Con-“ naught Road, Central, Ground Floor.
A QUANTITY OF VALUABLE HOUSEHOLD PURNITURE,
also
Enamel Baths
and
Quantity of Clothing
(deceased effects)
TERMS:-Cash on Delivery
LAMMERT BROS..
AUCTIONEERS.
Now On Sale
DIRECTORY
1939
EDITION
&
51
CHRONICLE
OF CHINA, JAPAN, MALAYA, PHILIPPINES, INDO-CHINA, NETHERLANDS INDIES, ETC.
PUBLISHED BINCE 1862. REVISED ANNUALLY.
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Please send us.
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