HÙNGKONG DAILY PRESS
BANKS
HONGKONG AND
SHANGHAI BANKING
CORPORATION
Authorised Capital 850,000,000
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA
Issued & Fully Paid-Up 80,000,000 Incorporated by Royal Charter, 1855 £3,000,000 £3,000,000
Beserve Funds:
Sterling
£8,500,000 Paid-up Capital- H.K. Currency Reserve $10,000,00 Reserve Fund Reserve Liability of
Reserve Liability of Pro- ..$20,000,000
prietors...............£3,000,000 Head Office:-HONG KONG
Proprietors
Board of Directors. Hon. Mr. A. L. Shields,
W, H. Lock, Esq.,
Chairman.
Deputy Chairman.
J. K. Bousfield, Esq.. A H. Compton, Esq., Hon. Mr. 8. H. Dodwell,
D. P. Landale, Esq.,
G. Miskio, Esq.,
K. S. Morrison, Esq.,
Hon. Mr. T. E. Pearce,
E. V. Wilkinson, Esq.,
Sir Vandeleur M. Grayburn,
HEAD OFFICE; LONDON: S8, Bishopsgate E.C.2. Sub-Agencies in London: 117/122, Leadenhall Street, BC.3. West End Branch: 14/18. Cockspur Street, S.W.1. Manchester Branch:
71. Mosley Street, Manchester,
'AGENCIES AND BRANCHES:
ALOR STAR" HARBIN
PENANG HONG KONG RANGOON ILOILO
BAIGON
trox
ANBITHAR
BANGKOK
BATAVIA
BOMBAY !
CALCUTTA Chief Manager.
KARACHI ELANG
AGENCIES: KOBI
Cut Str
Fathur PLACE KUALA
CANTON
Amoy
Branches:- Ipoh
Penang
Bangkok
Johore
Hatavia
Kobe
Rangoon Saigon
CAWNPORE
CERU
Bumbay Calcutta
Kowloon San
Kuala
Francisco
COLOMIO DELHI
London
Canton Chefoo
Colombo
Lumpur Shanghai
Singapore
Lyons Sourabaya Dairen Malacca Sungei Foochow Manila Patani Haiphong Muar Swatow Hamburg (Johore) Tientsin. Hankow Mukden Tokyo Harbin Hongkew Iloilo
Current
New York Tsingtao Peiping Yokohama
Accounts
opened
Local Currency and Fixed Deposit received for one year or shorter periods in Local and other Cur- reneles on terms which will be quoted on application.
י
HAIPHONG KAMBURG
HANKOW
LUMPUR
KUCHINGTM
MADRAS
MATILA
MEDAN
NEW YORK PEIPINO
(Peking)
SEEINHAR SHANGHAI SINGAPOR BITIAWAN BOU RABATA TAIPING TUENTSIN TONGEAN ·
(Bhukos) TSINGTAO YOKOHAMA
FOREIGN EXCHANGE and General' Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods in Local or Other Currencies at rates which will be quoted on application.
SAVINGS ACCOUNT also opened in Local Currency and Sterling with interest allowed at rates obtainable on application.
SHARE MARKET
REVIEW
BY C. A. L. RICKETT- Secretary, Hongkong Share="
brokers' Association
Saturday, March "25.
FINANCE
Government Notes Still Circulate
During the week the market was Value Much Higher Thau
| inclined to react to the increasing gravity of afairs. In Europe and a
F.R.B. Notes"
<
REYNOLDS &
GIBSON
RUBBER
LONDON.—Our market has re-
mained remarkably steady through the week, but business has ruled on the quiet side. A good demand for near shipments on c.lf. terms persists, and in addition sales of forward position's covering not
feeling of anxiety was made mant- Although the legal tender" notes rest by an increase in the number issued by Chinese Government of selling orders. Selling, however, banks have been prohibited in was not by any means general, and several big cities in North China only the balance of this year, but investors had the opportunity they are still being circulated also the whole of 1940, have been quietly select their stocks at more in those cities and their value is made. Manufacturers, however, attractive looking prices. Most much higher than the new notes do not appear disposed to buy shares offering were absorbed at issued by the provisional regime in other than on a hand-to-mouth lower price levels, and at the close
Peiping. according to Chinese basis. of business to-day a better feeling
reports. Is indicated by a slight hardening Despite the new order forbidding customary
Shipments for February from the
Centres of of prices. In common with world circulation the legal tender notes ste:-
productions markets there has been a feeling are widely used and people like to
Feb. JAD Dec
1939 of uncertainty resulting in a de-
1939 1938 preserve them.
tonk crease in the volume of business
tons tons 43,497 43.332–33,901 5.323 7.123 3,070
over that recorded for the previous
week
Trams were
HK. Banks changed hands at $1,385 to $1,350 and Union Insure and shares receded to $460. K. Docks lost $1 with business reported at $17.50 (cub. div.); done at $18 but later hac buyers at $16.15. China Lights (0) were easier and came to business at $8.10 and the new shares at $5.25 Electrics were wanted at $55.50 and Hotels at $5.60 after changing hands at $5.50 Wharves were offer- ing at $112 after deduction of $7 dividend.
sional regime notes, people in the Being unable to reject the provi-
north use them soon after recely- ing them. The "federal notes" as the new notes are called circulated In the north represent a face value of $185,000,000 but the legal tender notes circulated in the same area amount to $335,000,000, it is stated.
OFFICIALLY REJECTED The legal tender notes oficially rejected by the new regime in Feiping are accepted by Chinese banks in Shanghai, which do not accept the "federal notes."
lase
Money in Chinese Government banknotes remitted to the north The Manila market has shared through Shanghal banka will not in the prevailing feeling of uncer-
value because the receiver tainty. After small fluctuation obtain the same currency in prices at the close show very little the north. Persons remitting money change over those ruling at the pre- to Shanghai must use legal tender vious week's close, Benguet Con- notes, however. solidated after deduction of 30
of 30 ctvs. to Ps. 12.70. Antamoks
to 41 ctvs.
Ceylon Malays
แ
די
*metric metric metric
bons *tons tons
.7,010 1,938
4.842 8,997 11,014
13,920 18,004 8,777 D.EX, Native, Outer
Possessions.... 11,492' 21,248
D.E.I. Estate, Java 4,923 D.EL. Estate, Outer Possessions...
25,412 39,272 10,809:
Motor venicle production in the USA in 1938 was 2,490,000° units compared with 4,809,000 in 1937, It is considered that this low figure for last year will be much im- proved upon during the current year, although it is not expected for 1935/37 will be attained. Ac- that the average of 4,400,000 unita-
counts from the British motor in-
dustry read quite optimistically
ctvs, dividend registered a decline French Governments have lodged with one company working at fall The British, American and
protesta with the Japanese capacity. At the end of last after easing to 38 ctys, recovered authorities against the haps came in for most attention which is said to have affected their licences had been issued for 2292-
United Patacale per-currency
new month, according to the Society o policy in the north Motor Manufacturers and Traders,
and after easing to 68 cts. re- in
803 vehicles against 2,144.583 for covered to. 73 ctvs., a loss of 2 ctvs.
the same period last year, over the opening price at the be- ginning of the week. Market closed steady.
The Bank's Head Office London undertakes Executor and Trustee business, and claims. Te Also up to date Safe Depos|covery of British Income Tax overpaid, on terms which may be ascertained at any of the Agencies and Branches.
R. A. CAMIDGE,
Boxes in various sizes To Let. Hong Kong, 13th Mar. 1939.
HONGKONG SAVINGS
BANK
The Business of the above Bank
is conducted by the HONG KONG
& SHANGHAI BANKING COR- PORATION.
Rules may be ob
tained on application.
For the HONG KONG & SHANGHAI Banking ConPORATION.
Manager.
The following dividends have been announced.......
15.
Antamoles: 1 ctv. "payable April
Atoka: 2 ctvs. payable April 3, United Paracale: 2 etvs. payable April 4.
I. X. L: 2 ctvs. payable April 15. Big Wedge: 1 ctv, payable April
THE CHASE BANK
10.
"
"
15, QUEEN'S ROAD. CENTRAL
Chief Manager.
18, PINE STREET,
*NEW YORK.
H. K. STOCK EXCHANGE
V. M. Grayburn,
Hong Kong, 25th Feb., 1839.
BANK OF EAST ASIA, LIMITED
Authorized Capital ....$10,000,000.00 Paid-up Capital ........
5,598,800.00 Reserve and Undivided
Profita.....
.................!-- 2,881,832.01
Head Office:-HONG KONG
No. 10 Des Voeux Road, Central.
Board of Directors: #0
Bir Sheuson Chow, Chairman
-Li Koon Chung Esq. “Li Lan Baug, Esq. P. K. Kwok, Esq. WongChuson, Esq, Wong Yan Tong, Esq. Kan Ying Po, Esq. ChanChingShek,Eaq. FungfingWah Esq.
Kan Tong Po, Esq., Chief Manager. Li Tas Foog, Esq., Manager.
Ampy
Batavia
Baby Delenita
Helphong
Branches and Agencies :—
Kowloon Penang → Singapore London Bangoes Sourabaya
Bwntow Melbourne San Fran- Sydney Nagaka
cisco Benbaa Saattia. Vancouver Bearing Priping Shake
Bankow
Honolalu Kobe
New York Paris
Every description of Banking and Exchange business transacted. Loans granted - 00 approved securities.
HEAD OFFICE:
Az American Bank offering com- plate Foreign Banking Service in the principal Markets of the world. Interest Rates on Application.
SAFE DEPOSIT BOXES
This Bank is entirely owned by
"
THE CHAR NATIONAL BANK NEW YORK, with Resources over U.S. $2,500,000,000..
D. M. BIGGAR,
Monager.
British. Firm Big Gets
Contract
Messrs. Innisa & Riddle (China) Ltd., the British Thomson-Houston Current Accounts opened in Local Co. Ltd., China agents, stated that Currency and Fixed Deposite re-an order valued at £70,000 has just caived for one year or shorter been placed by the Kallan Mining periods in Local and Foreign Cur: Administration for two 3,000 Ji.p.. rencies on terms which will be British Thomson-Houston Co. Ltd., quoted on application.
Safe Deposit Born To Let
KAN TONG PO,
Chief. Manager,
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE,
electrically operated, cosi,,winding equipments...
One of these will be installed at 1 No. 4 shaft Linel and will "be" capable of raising 399 tons of coal per hour from a depth of -354 metres. The other equipment, is for: an output of 220 tons of coal per hour from a depth of 648' metres and will be installed at No. 3 shaft Tongshan.
SPECIALISED BRANCH
These installations will embody all the latest developments and
PAID-UP CAPITAL $40,000,000,00 (BRANCHEB ALL OVER CHINA)
Owing to our numerous Branches in China and connections in the principal Commercial Centres refinements in this specialised the World, we are able to extend branch of engineering. They will to our Clients special facilities for be of the bicylindro conical drum Domestic and Foreign: Banking and
Ward
· ́Leonard"- equalised" type Exchange.
incorporating automatic electric devices whereby the peak loads, | are smoothed out and the maximum possible eficiency and safety are achieved. They will be the largest Installations of the kind in the Far East:
Head Office: BHANGHAI Hong Kong Branch:
4, QUEEN'S ROAD, 0. South China Ofices: 1.
KONGMOON TOISHAN
CANTON SWATOW
SHIUCHOWKINGCHOW... We also ;' handle « the "issue" Bonda and other Public Funds of the Chinese Government both at Home and Abroad
SHOD J. CHEN
Mesara. Inniss & Riddle. (China), Ltd, last month but into successful operation somewhat similar but smaller equipment at the minies of the Mentoukno Coal Mining Co., near, Pelping.
Saturday, Mar. 25.
trade.
Shipping in North China is said to have been completely mono- polized by the Japanese and Japan ranks the arst in both export and import trade in all ports in the north.
A systematic control of the main Chinese products such as leather, beans and cotton hag been effected
AMENDMENTS TO POSTAGE RATES
Gazette"
view of this commodity and en
Altogether, we take a favourable adder that decreasing shipment with expanding absorption should. make for better prices durmy the next few months,
Movements of Rubber in Landón and Liverpool for week ending March 11, 1939:—London-Landed 797 tons Delivered 1,343 tons; Stock 47.442 tons; same. time last year 48,197 tons; Liverpool Landed ́588' tons Delivered 1,009 tons; Stock 28,068 tons; same time last year. 24,806 tons.
NEW YORK-Prices have re- mained almost unchanged.' from day to day, and cables coming for- Ward from New York have record- ed practically featureless markets. There has been a certain amount of Eastern selling of distant dell-
The "Government notifies that the Governor in Council makes the following fur- During the morning HK. Banks ther amendments to the rates of changed hands at $1380 advancing postage in Class A-Letters and to $1390 business doce. Unions were Postcards published as G. N. 657 in traded in at $470. China Providents the Gazette of August. 26. 1938, made $5.70 and a small lot of Gov-with effect from March 24, 1939: veries, but this was readily ab- erriment 4 per cent Loan was placed
at 4 per cent premium, Sandakan | Lights at $12, and Yaumati Ferries
(Old Issue) at $244.
BUYERS Hongkong Bank, $1375, Union Insurance, $470. Douglases $881. FLK: Docks (Old), $171. Providents (Old), $5)..... H.& 8. Hotels, $5.55. H.K. Tramways, $16).. HK. Electrics, $55), Sandakan Lights, $114. Cements, $134.." Canton Ices, 31 H.K. Ropes, 34. Entertainments, $6.
HK. Goyt, 4% Loan 4% Prem H.K Gort. 31% Loan. par. Dairy Farms Eta, $154..
SELLERS
Union Insurance, $475. H.K. Steamboats, $14. HK Lands, $36. Dairy Farms C. Ets/ $24.
SALES Hongkong Bank, $1380/90; Union Insurance : $470; · Providents (OM), $5.70. HK. Tramways, $161;- Yaunati Ferries: (Old),, #243... Sandakan Lights, $12. HK, Govt. 4% Loan.4% prem/ Maraman's (H.K.); 5/-- Dairy Farms Rts, $155
PHILIPPINE MINING. QUOTATIONS - Antamoks PB 43
"
1.
AMENDMENTS
The following · additional rate; numbers are inserted, under the| |heading. Inclusive Rates by Im
perial Airways Air Mail Services after Rate No. 30 and the follow- ng corresponding · additions are made to the note at the end of the Class A rates:-
Rate No. 31 Foreign
destinations in Africa
sorbed by consumers and specula- tors: Transactions 6,115 tons."
LABOUR
TROUBLE
AT NEW YORK'S
and in the Near East $1.00 $0.50 WORLD FAIR
Rate No: 32. Foreign destinations via› Ans- tralia
Rate No. 33-Portuguese- India and Afghanis
tan
$0.75 $0.40 Second Column
First Column Foreign. destinations in Africa and in the Near Easte
Foreign
...Alexandria
destinations
via Australla Portuguese India and
Afghanistan
M Maurice Garreau Domkasle, $1.00 30.50 France's Commissioner at the New. York World's Fair, stated recently that the oppositing, of the American unions to the employment of French workers would almost certainly prevent his country's £800,000 pavilion from being com- pleted before the exhibition opens | on April 30, writes the "Daily Tele- graph" New York correspondent. "I have been fighting this trouble for a whole month," he declared. "About a dozen French workmen already here have not been allowed to touch a tool, and we had to delay bringing over hers needed for speciál plaster and cabinet work which cannot be done by Americans.
Australia
British India
Atoks Ps, 36 ex-dly. Baguio Gold Ps.-23 Benguet Consolidated Ps., 12,70 Coco Grove Pal ‚424'....... Consolidated Mines Ps, .003 Demonstrations Pa.,-,15 IXL. Ps., .62 Paracale Gumitaus (Pa.,^ .177- Ban Mauricio Ps. 2.00 Bujoc Ps 19
United Particale Ps., 72.
HONGKONG SHAREBROKERS”
ASSOCIATION
VOLUME OF BUSINESS TRANSACTED FOR WEEK" ENDING
MARCH 24, 1939–22
STOCK Hongkong Banka ". Union Ins. H.K. Docks (cum, div:)) Trams .......
No. of Shares
201
10
1.100
3,000)
Yaumati Ferries (0)
100
PRICE* $1,385.00 to $1,350,00
460.00 £
18.50 to 16.25 to +25,00****
17.50
18,00
Yaumati Ferries. (N)
(100%
$24.004
China Lights (Old)) China Lights (New) Entertainmenta Electrics AH Hotels. Providents United Antar
5,832
8.70 to
8.10
2,544
5,50
1,700
7.10
100
35.50
3,300
5.30
1,500 30,000
5.45
Masbate Ttogors
8,000 2,000 4,000
"The only "men" we have imported are, spécialisï's,' but it la pasential to us to have them to produce an exhibit that "is truly representative of France. As a result or thredé delays WORK Ń! is far behind · schedule.”
Similar dificulties have been encountered by Rumania, which brought about a dozen“ -skilled labourers to the United States to pasist in the execution of its plans for a pavilion designed by Prince George Cantacuzeno. This involved the use of marble and álábaster,
OFFICIAL VERSION
Fair omčiais, walle admitting that bi American workers staged
at down strike as a protest against 6.25 the presence of French workmen. engaged in France's "zubeldiary exhibit in the Hall of Nations, made light of them diffletiltiés, ↑ 5.60 -5.604] It was eyen kiggested in soms Ps0,70 ||| quarters that they are being used Para an excuse for "failure to get certain forefani pavilions in hed before the opening
MONDAY, MARCH 27, 1939. -PAGE 13
PRESIDENT LINER
Sailings
FOR SAN FRANCISCO & LOS ANGELES
Apr. 9lat at 500 AM.
VIR SHANGHAI, Kona, Yokohama and HONOLULU 98. "PRESIDENT COOLIDGE" Saila Apr. 10th að 8.00 AIM. 88'" PRESIDENT TAFT * S8. PRESIDENT CLEVELAND " S&" PRESIDENT PIERCE". « 88." PRESIDENT. COOLIDGE"-
AND FORTNIGHTLY THEREAFTER
1
May 5th at 8.00 A.M.
May 19th at 600 &M.
+1
June 3rd at 12 Noor
FOR NEW YORK & BOSTON via SUEZ
8.S.* PRESIDENT MONROE" Sails Mar. 19th at 9.00 PM. "S.8." PRESIDENT ADAMS"
Apr 14th at 19 Noor AND FORTNIGHTLY THERSAJTER
31
FOR MANILA
Sails Apr. 3rd st
S.8. "PRESIDENT COOLIDGE”
88. "PRESIDENT TAFT" 8.S. "PRESIDENT ADAMS* 38. "PRESIDENT CLEVELAND *
11
Apr. 14th at 1.00. AM. Apr. 14th at 18 Noom/ Apr. 98th at 1.00 AM,
AMERICAN PRESIDENT LINES
ROUND WORLD SERVICES
12, PROVER ST.
THE
"HIRAM"
TEL. 28171.
CHINA SIAM-
HONG KUNG BANGKOK
LINE
leaving Hong Kong th Mirch via Swałow
HỒNG KONG SWATOW AMOY mx. “HAI LEE?" leaving Hong Kong 2nd April Accepting Passengers & Cargo for all the above metioned ports:
4 HONG KONG-SINGAPORK—PENANG-RANGOON
Regular Express Service
ELS. "HAI LEE"
R
leaving Hong Kong 8th April
Accepting cargo for all the above mentioned põrts
Excellent poenger accommodation available. For freight, passage rates and all other information-Apply to
THORESEN & CO., LTD.
Tel. 30237
General Agents..
Queen's Building.
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SANATOGEN
Tonic