HONGKONG DAILY PRESS
BANKS
HONGKONG · AND
"
THE CHARTERED
SHANGHAI BANKING
CORPORATION-
BANK OF INDIA,
AUSTRALIA &
CHINA
Issued & Fully Paid-Up $20,000,000 Incorporated by Royal Charter, 1853
Authorised Capital
........$50,000,000
Beserve Funds:
Sterling
£8,500,000
B.K. Currency Reserve $10,000,000 {Paid-up Capital Reserve Liability of
Proprietors
Reserva Fand
....$90,000,000
Réserve Liability of Pro- priators......
Head Office:-HONG KONG
Board of Directors.
Hon, Mr. A. L. Shields,
CA tirman.
W. H. Lock, Esq.,.
N Deputy Chairman,
J. K. Bounfield, Esq.,
A. H. Compton, Esq.
Hon. Mr. 8. H. Dodwell,
. F. Landale, Esq.,
G. Miskin, Esq.,
K. S. Morrison, Esq.,
Hon. Mr. T. E. Pearos,
H. V. Wilkinson, Esq.,
Sir Vandeleur M. Grayburn,
£1,000,000 £3,000,000
£3,000,000
HEAD OFFICE; LONDON; 38, Bishopsgatë E.C.2. Sub-Agencies in London: 117/124, Leadenhall Street, ÉG.S.
West End Branch; 14/16, Cockapar Street, 8.W.1. Manchester Branch:
71, Mosley Street, Manchester.
AGENCIES AND BRANCHES:
ALOR STAB HARBIN PENTANO AMRITSAR HONG KONG RANGOON BANGKOK. LLÒILO! BAIGON
FAILI PLA CANTON
CAWNPORTC
Chief Manager.
HATAVIA BOMRAY CALOUTTA
Branches:
AQIN CLEA Pure ÉTKERT
Amoy
Ipoh
Bangkok
Johore
Penang Rangoon
Batavia
Kobe
Saigon
Rombay
Kowloon
San
€
Calcutta
Kuala
Francisco
Canton
Lumpur Shanghai
Chefoo
Londer
Singapore
Colombo
Lyone
Sourabaya
Dairen Malacca
CULO XHE DELHI BAIFBOND
HAMBURG HANKOW
Foochow
Manila
Sungei
Patani Haiphong Muar Swatow Hamburg (Johore) Tientsin
Mukden Tokyo
Hanko Harbin New York Tsingtao Hongkew Peiping Yokohama Iloilo
ІРСН
KARACHI KLANO XOGE KUALA
LUMPUR КОСНІКО
MADRAS MANILA MEDAN
NEW YORK PRIPING
(Peking)
"
SEREMBAN
·SHANGHAI SINGAPORK SITIAWAN BOURABAYA TAIPING
TIENTSIN
TONGZAH
(Bhukat) TBIMOTAQ YOKOHAMA
די
CHINA'S INDUSTRIAL DEVELOPMENT
Co-operative Movement Spreading
“CHUNGKING, April 4 (Cen- tral)—The Chinese Industrial Co-operatives Movement is spreadlig With satisfactory resulta. So far, it is revealed. 258 industrial units have been set up in the interior providing work for thousands of men and women from the war-affected areas. .
Was
formed
with
FINANCE
PEAK OIL OUTPUT IN CANADA
SHOWS GROWING MARKET
OTTAWA-Ìncreasing availability of domestic crude oil for refining" purposes in Canada is seen in a recent Government report show- ing that oil fields in the Dominion yielded a record output in 1938 ef more than two-and-one-half times that of the previous Усаг
· The report, published by the De partment of Mines and Resources. records a total of 6,870,000 barrels In 1938, valued at $11,514,000, 85 compared with the 1937 figures 1: of 2943.750 barrels valued $4,339,$53.
Although the report does not publish consumption figures for reantzig companies in 1938, the trendį towards greater use of Canadian
indicated products La
in 1937 statistics which show that although,
New BA.T. Factory For Siam
The foundation stone of the new Beltsh-Américan Tobacco Company faétóry in Bangkok was laid by Sir Jasbih Crosby, the British Minister, on Mar. 23.
In welcoming the Minister, the
Recently, the azschwan-ikong the use of imported oll increased Headquarters
14.5 per cent, the quantity of headquarters in Chungking and domestle crude oil used was more ten mub-stations in the field. Mr. than doable the Agure for 1938. A. P. Skivington, said:
TURNER VALLET
manager of the company, Mr. F.
Hu Shih-chi, of Nanking Univer-
"The cigarette business, is con- sity, is chief co-operator, and Mr.
sidered one of the barometers of Practically the whole of the 1938 trade and the increase, or decrease, Nieh Kuang-yu is chief engineer. record production came from the both in value and volume. affects. Thirty-four co-operatives have
Turner Valley oil fields in Alberta. In time, every other commodity. It already been organised in this
the report states. In the first nine is interesting to grea, Another "headquarters was months of 1938 Turner Valley's out- during the last two years the observe that recently established at Kunming.
put was 53.174.575 barrels, compared volume of the cigarette business A new and important branch
with 1.748.000 barrels in the car has increased rather strongly in headquarters has been opened at Yenan, Shens, with Mr. Tsao Chu-ponding period of 1937. Of the stam and we all hope that this Ju, head of the Border District 60 crude all wells in operation in increase will continue for the Turner Valley In November, 1938. future prosperity of the country." Bank, as chler.
38 of these had been brought into RICH DEPÓSITS
The new factory building will be production during the year. There are rich deposita of of.
a three-storied reinforced concrete Markets for Turner Valley oll are structure, approximately 95 metres coal, salt and sods in north Shens. principally the three Prairie Pro long by 19 metres in depth, and
Headquarters
has vinces, the output going to them on will have a total height of 13 planned to develop these products. the proration basis, and allowable metres.. in addition to wool-weaving, cotton production being governed by the paper-making. leather
It will be capable of producing tanning demand. At the height of the approximately afty per cent, more vegetable oil medical supplies and harvesting season, the report says, cigarettes than the present build- transportation co-operatives, with production was stepped up to nearly ing.
the next two months. plan entalls a total cost of $90.000 other parts of the season
The 29.000 barrels a day whereas in The building has been designed The establishment of $10,000 demand is only for about 11,500 particular, attention has
the on the most modern lines, and machine shop for repairs has also barrels
.been been planned,
given to the comfort of the employees.
The Yenan
A supplementary plan for the industrial co-operative develop-
FOREIGN EXCHANGE and General Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for Ons Year or shorter periods in Local or Other Currencies at rates which will be quoted on application Current Accounts opened in SAVINGS ACCOUNTS also oponed in Local Currency and Fixed Deposits Local Currency and Sterling with received for one year or shorter interest allowed at rates obtainable beriods in Local and other Curon application rencies on temua 'which will ́, be
The Bank's Head Office in ment of north Shensi calls for the WEEKLY PRIVATE CONTRACTS SIGNED quoted on application.
* * London undertaken Executor and erection of a $100.000 caustic soda Also up to date Safe Deposit Trustee basiness, and claims replant, the investment of $50,000 in
REPORT covery of
British Income Tax the salt Industry, $100,000 In all, overpaid, on terms which may be $50.000 each in coal, lime and tron,
REYNOLDS AND GIBSON " ascertained at any of the Agencies $55,000 in the erection of a small
RUBBER and Branchen.
R. A. CAMIDGE,
electric power plant, $20,000" in a
London Our market preserved sulphuric acid plant. $20,000 in a fairly steady tone until the in- the erection of laboratories, $20,000 fuence of European politics began in food canning, $20,000 in a stock to take effect. This was particu- farm, and $10,000 in a match larly pronounced in Eastern mar- factory, making a total of $500,000.kets where low overnight bids from
Boxes in various sizes To Let.
Bong Kong, 13th Mar. 1939.
HONGKONG, SAVINGS
BANK
The Business of the above Bank
is conducted by the HONG KONG
& SHANGHAI RANKING COR- PORATION, Bules may be ob, tained on application.
Manager.
THE CHASE BANK
For the Hoyo Kono & Suesom41| 15, QUEEN'S ROAD CENTRAL
BANKING, CORPORATION. "
V. M. Grayburn.
Chief Manager.
HEAD OFFICE:
18, PINE STAKET,
H. K. STOCK. EXCHANGE
เจ
FOR NIAGARA BRIDGE
Niagara Falls, Ontario Contracts were signed by the Niagara Bridge Commission with Sprague and Hen- wood, North Bay contractors, who will begin immediately to bore for the foundation and abutments for a new bridge over the Niagara River, dealers here and New York were replacing the honeymoon bridge accepted and produced hedge sales carried away by last spring's ide in London and stoploss orders Jam
TEM.
were caught on the decline. The Commission has deposited Actually, the amount of specula-with the Dominion Department of tive iiquidation
relatively Public, Werks and with the Provin- Buyers were more in evidence small and the market appeared [ctal Registry Office at Welland a and in several instances advanced ready to rebound with any im-description of the atte and plans BANK OF EAST ASIA: An American Bank offering com.their prices but not sufficiently to proved quotations from the East. for the bridge,
Hong Kring, 25th Feb:, 1939,
LIMITED
Authorised Capital ....$10.000,000.00
Paid-up Capital
Reserye and Undivided*
Pmfts ....
3,598,800.00
2,683,932.01
Head Office:-HONG KONG No. 10 Des Voeur Road, Central.
Board of Directors
Bir Shouson Chow, "Chairman
Li Kona Chun, Esq, gli Lan Bang, Esq. P. K. Kwok, Esq. WongChuson, Esq. Wong Fun Tong, Eaq, Kan Ying Po, Esq. ChanChingShek.Raq, FongPingWah Esq.
Kin Tong Po, Esq., Chiaf anger.
Li Tan Fong, Faq, Manager.
Branohar and Aponcise :---
Kowloon
Хемия
Biszapore
Landes Bangoon Boarahsya
Selgen Swatom Melhorro Baci Bra Bydney
clson Tsatis
Amny Batavia Bombay
Jspita
Hiprot
Honolulu
Hadkow
Tobe.
Nagrania
fer Tork Sexitia
Part
Semarang
Peping Shanghai..
Every description of Banking and Exchange business transacted.
Loans granted o'n approved
securities.
NEW YORK.
plete Foreign Banking Service in the principal Markets of the world. Interest Rates on Application.
SAFE DEPOSIT BOXES
This Bank is entirely owned by Tui CHANE NATIONAL BANK, New York, with Resources over (7.8. $2,500,000,000.
D. M. BIGGAR,
Manager.
THE MERCANTILE BANK OF INDIA, LIMITED
Head Off to:-15, Gracechurch Street. London, EC.3
Authorized Capital Nubarribat Capital Pald. Capital
Reserve Fund and Rest,
BANKERS:
attract many sellers with the result
WEDNESDAY, APRIL 5, 1939. -PAGE 13
PRESIDENT LINER
Sailings
"FOR SAN FRANCISCO & LOS ANGELES via SHANGHAI, KOBE, YOKOHAMA and HONOLULU BR PRESIDENT COOLIDGEZA SUL Apr. 10th kr ́600/A.M. 8.8 PRESIDENT TAFT"
88. * PRESIDENT CLEVELAND SS. "PRESIDENT. PIERCE" ES. “ PRESIDENT COOLIDGE 8.8" PRESIDENT TAFT"
Apr. sist at 8.00 A.M. May 5th at 8.00 AM.
May #l'àr 6.00 AM,
June 3rd at 12 Noon
June 18th at 6.00 A.M.
AND FORTNIGHTLY THEREAFT-A
FOR NEW YORK & BOSTON
via SUEZ
S.S." PRESIDENT ADAMB 8.S. PRESIDENT VAN BUREK
Apr 19th at 12-Noor "Ape, 28th at 12 Noor
AND FORTNIGHTLY THEREAFTER
FOR
MANILA
&& PRESIDENT TAFT 88." PRESIDENT ADAMS* 28. “ PRESIDENT CLEVELAND
"Apr: 14th at 100" A.M.
Ayr, 14th at 12" Noon" Apr 8th at 100 A.M.
AMERICAN PRESIDENT LINES
ROUND WORLD SERVICES
12, PEDDER ST
TEL 28171
THE BEN LINE STEAMERS, LTD.
S.S. "BENMOHR"
Sailing for LONDON, ROTTERDAM, ANTWERP, HAMBURG and LEITH on OF about the 9th April, 1999.
Cargo will also be accepted on through Bill of Lading to the usual transhipment ports.
For Freight and 'assage upply
to the Agents:
-W. R. LOXLEY & CO., (CHINA) LTOL York Building.
Tel. 34185
COAL SHORTAGE CONSIGNEES' NOTICES
IN JAPAN NO SETTLEMENT"" a business was still on a re-first half of this month was cabled. It was announced after the meet- total amount of coal required by
Shipments from Malaya for the
TOKYO, (Reuter By Mail)--The
on Saturday at 21.000 tons, with an presided over by Hon. T. B. Me-year is estimated at 60,000,000 tons, Ing, at which contracts were signed, Japan's growing industries this estimate for the whole of the. month of 38,000 tons, while ex- ports from Ceylon to the middle of
stricted scale. The market closed |with a firmer tone.
BUYERS
Hongkong Bank. $1385. Canton Ins., $220. Union "Ins., $485. HIK. Wharves, $106. HK Docks, $164. Providents, $44. H.K. Hotels, $5.55. H.K. Lands, $331.
China Lights (O), $8.
China Lights (N), $5.35. Dairy Farms (Ex. Rta.), $21'00. Dairy Farms. (Rights), $154. Watsons, $74.
Entertainments, $6.40.
Govt. 4% Loan 4% Prem Govt. 31% Loart 1/8% Prem.
STILERS
H.K, Wharves, $109.
March are returned at 1.978 tons
against 2,388 tons for the corres- ponding period last month.
UK. Board of Trade Agures for the first two months of this year are as follows
Questen. Commission Chairman that no
The
of the pinjected com production Increase
bas been programme
a 7,000,000-ton increase over the settlement had been previous year Railway Company, owners of the reached with the International
Despite the strenous efforts being made old bridge.
by the Japan Coalmine company has
Owner Association to increase sought to replace the Honeymoon coal outputs, the smooth execution Bridge. while Ontario and New York State authorities have in sisted on a publicly owned bridge. 1937 The Provincial Government's bil Imports.
tons for leave to construct was brought Jan.-Feb. 15,348 36,823 9,902 up by the Dominira Senate last Exports,
spring.
Stocks,
1939 1038 tons tons
Jan-Feb. 9,509 4,989. 10.399)
28th Feb. 75,098 71,333 83,586 American Questionnaire figures for February are given below with those of January for comparison:
Feb, Jan.
42,365
£3,000
21,990
Providents, $5.
#1,247,250
H.K. Hotels, $5.70.
H.K. Trans, $164.
Consumption
Arrivals
Reclaimed
Consumption
The Bank of England and Midland
Bank. Ltd.
Bansbay
BRANCHES:
Junh
Kuartan
Xaw York
Kandy
Pinang
Karabl
Banroca
Delhi
Kota Bharu
Kuna p
o
Kat Lumpur
Shangh Strat 3Jagkporr
Howrah
Current Accounts opened in Local Brok Currency and Fixed Deposite recta ceived for ona
year or shorter Coimba periods in Local and Foreign Cur rencies on terms which will be quoted on applimtion.
Safe Deposit Boxes To Let
KAN-TONG PO,
Chief Manager,
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT -OP CHINA AS AN INTERNATIONAL EXCHANGE
BANK 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 extend to our Clients special facilities, for Domestic and Foreign Banking and Exchange.
Head Office: SHANGHAI Hong Kong Branch: " 4. QUEEN'S ROAD, C. South China, Offices:
KONGMOON SWATOW
TOISHAN “SHIUCHOW ・・・ KINGCHOW
CANTON
We also handle the issue of Bonds" and other Public Funds of the Chinese Government both mi Home and Abroad.
Ki Tren HONGKONG. BRANCH. Every cription of Banking and Exchange | bonisam transact-d.
Travellers Cheques lourd, TRUSTEE AND EXECUTORSHIP UNDERTAKEN.
CURRENT ACCOUNTS opened in Local Car ready and XED DEPOSrts russised in Loon! Curtmay, STERLING & U, A, DOLLARS on terms that may be certained an application.
.D... BENSON,
Hager
PUBLIC WORKS
IN PERU
Electrics, $57,
Watsons, $8.05.
SALES
Hongkong Bank, $1395 Union Ins., 460/4873. H.K Lands, $34.
H.K. Trams, $16.35.
China Lights (0), $8.30. Watsons, $72.
Goyt, 4% Loan 4% Prem.
PHILIPPINE MINING-
QUOTATIONS.
Antamoks, P, 38. Atoks, Ps. 34
Benguet Consol, P. 13.00,
·Cuco Groves, Pa. 38. Demonstrations, Pa. 14. IEL, P. 57. Itogons, Ps. 27.
North Camarties, P. 57. San Mauricio. Ps. 1.90, Suyoc Consol, Ps. 17. United Paracales. Ps. 66.
HONGKONG
tona
The contractors' diamond drill ing machinery has been lowered into the river gorge by glant cranes,
hindered by the difficulties of get- execution of the programme follow ting necessary materials for the mg the enforcement of the Com modity Supply Control Act. The Association has asked the Gevents meat to take urgent steps to improve the materials.
supply of mach
SÉRVICES CONTRACTUELS DIS
MESSAGERIÉS MARITIMES
CONSIGNEE NOTICE.
98. MARROĦAL JOFFRE
to*A789.
BRINGING CARGO FROK MARSEILLES via SAIGON, etc ARMITED HONG KONG ON.
WEDNESDAY, THE TOTH MAB., 1999
CONSIGNEEB are hereby informed that their goods with the exception of Optum, Tressure and Valuables are being landed & stored into the Glódowne of the Hong Kong, Howloon Wharf. & Godown Co, Lid, Kowlson, whence delivery may be obtamed immediately after landing
All claims must be sent in to me on
will not be recognized. Damaged Packages will be examined
17 the 8th April, "1939, or
the Consignees at 10.00 sm. 05 *Tuo day, the 4th Aprif; 1609.
REDUCED DIVIDEND The remarkable Increase in the
OF IMP. CHEMICAL
demand for cost in Japan is dire to the fact that the Government | |- The fall in the price of imperial plans for the expansion of manu- 40.234 Chemical Ordinary shares, which factures is making good progress by the Company Surveyor, Momen, 36,490 33,082 it the close of the "House" had despite the calcult wartime situa-Goddard & Douglas in the presence of
not been out of line with the ton." 12,625 13,000 reaction in most industrial equities 231,475 297,826 on Mar. 22, was sharply accelerated .55,814 48,210 the "Street" upon notification The events of the last few days dividend for the past year,
of the preliminary figures and have shown that there is an un-
The market was tot unprepared derlying strength in the position for a small reduction in dividend.
Stock
Afloat
WORLD GOLD OUTPUT
öf
NEW YORK-Gold production, and if the political atmosphere and the per cent. "cut" is the Russia, in December amounted to
Consignees must have BereNNO Officer in attendance when any dutiable. godde, are examined by the Company's Barveyors.
No Pire insurance will be effected by us in any case whäfäver.
R. OHL,
Agent.
clears a Httle, purchases made amallest practicable reduction. But 2,779,000 dine ounces, Egainst 2824 – | Hong Kong, 10th March, 1989, around present levels should be the £450,000 drop in het probis 000 in November, according to the justined during the course of the was rather more than had been ex- American Bureau of Metal Statis pected in some directions, and the tics. For all of last year, production, Movertents of Rubber in Lob-shares were anally quoted is. 5d. excluding Rostis was 31,537.000 don and Liverpool for week ending lower against the overnight figure ounces, is compared with 25,888,000 March 18, 1930:--
at 288. 80, Mythed
next few months.
London-Landed 1,021 tons; De ilvered 1,144 tons; Stock #47,319 tons; same time last year 8.816
LONS.
CONSIDERABLE FALL
ounces in 1937.
U.S. PLANT IN CHILE
COTTON PROBLEM
IN U.S.
WASHINGTON Apfli 4 (try The Senate to-day passed the modined Smith Bill which is now called the Bankhead Cotton BÍL
amendment to the Bill raising the
price paid by farthers the pow sion of long chitin from th dents to the děkte
The Bill also provided for re- duction of loan stocks by 3,000,000-; bsles.
Gold production in the United For a stable type of share kuch states, including the Philippine Is- as Imperial Chentical shares have lands, in December was 452000 now become that is a considerable ounces, against 524,000 in November. Liverpool-Landed 371 tons; De-
fal. Actually the net pront is stilt For 1938, output amounted to The Senate also adopted livered 640 toms; Stock 25,799 tons; on 1938 and only kisfitly down 6,008,000 ounces, against 4,763,000 same time last year 25,067 tons.
upon 1936. The directors unfor- in 1937, tunately have broken with previous SHAREBROKERS'
New York-This market has practice in one important respect. shown signs of an easier tone ir- ASSOCIATION respective of European develon-made available at this stage, and Only the het figure of profits is ments. The excess shipments for the drop in the net figure may or the first two months of this year may not be a true measure of the $58.76 have been read bearishly and change in gross income. A year ago
The Chilean branch of an Ameri⚫ Although trading was duli in the 56.50 served as useful ammunition for the provision for beolescence and can company manufacturing pho Argentine wood market in the first 16.45 Inducing short selling, which in depreciation was increased by 50 nograph and radio products; long six months of 1935, the last half- 5.70 turn has called a halt to factory per cent. It is quite conceivable, in established at Santiago, is build- of the year was characterized by 8.40 enquiry. Nevertheless prospective view of current International un- ing a branch factory to be com- improving trading conditions. Tetal 8.30 absorption is looked upon very certainties that a further increase pleted early in 1939 at an estimat exports of all chimes of wool in 5.40 favourably, and provided world in this item Has been made befored cost of about $150,000- About | 1938 amounted to 191 STI 4.90 conditions become more settled, we striking the net income this year. 400 persons will be employed in tons as compared with 116,111 Com 15.75 bellave that higher prices are in- In any case, the charge for in the new factory which is under in 1937. The United Kingdom was. 4ps dicated during the next few come-tax and N.D.O will have been the supervision of an American the principal deftination, Pr.66 month Transactions 10,740 tons, greater.
engineer.
The comparatively large public works programme provided for in Peru during 1938 was unique in the history of the nation, and the Clabursement of wages and the volume of credit placed in circula- tion through that medium was in Electrics Large measure responsible for the Electrics sustained confidence which pre- Trams valled during the periods of Hotels certainty concerning the trend of China Lights (0) 100 foreign markets for cotton and China Lights (0) Sugar
Ohina" Lights (N)
100, Providente
500 Dairy Farm Hth. 684/6 HK. Govt. 4% Loan $10,000 United Paracale 5000.
Volume of Business Transacted?
on Tuesday, April 4.
35
Preference was given to highway construction and repair on what SHOU J. CHEN, "
about $4,576,000 was expended in Manager the first nine months of the year.
65
100
800
100