HONGKONG DAILY___ PRESS
Finance and Commerce
CHINA'S POST-WAR LAND POLICY: FIVE POINTS
CHUNGKING, May 5 (Central) — China's post-war land policy evoked' · lively discussions at the general session' of the Chinese Land Administration Society recently held in Chung--- king.
After the war, disputes over land-ownership are, bound to rise owing to deaths. removals and destruction of land deeds. The collapse of farm houses, presence of graveyards overnight. drilling of bomb craters, and 'digging of trenches have neces- sarily altered the original shape of the land. Therefore the most urgent matter to be tackled in the post-war period will be the management of land. th
PEASANTS
BECOME
FINANCE
H. K. STOCK EXCHANGE
There has been a slow but mark- ed improvement in sentiment dur-
“SHARE MARKET in the week with Buyers becoming
REPORT:
Harriman, Black & Co.
more liberal in their ideas. The demand has been difficult to meet and is still unsatisfied, and should. the present temperament of the market continue, the supply of strip will not be forthcoming even at the improved levels at which A firm and
the market closes,
market at the close.
Very quiet conditions, have pre-steady undertone characterizes the valled this past week, and this state of affairs is not surprising when one considers the uncer- tainty in all world stock and com- modity markets.
At the week's end the Hongkong The post-war land policy adopt-share market shows a frmer un- ed by the general session involves dertone and buyers are out, look- the following five points:
ing for bargains. R.K Electrics
First, after the conclusion of came to business to-day-at $55) hostilities the Government should which is a rise of $1 on the week, issue an emergency proclamation HK. Trains have armed up to readjusting the land rights. Effec-$16.30. China Lights "old" to
INDUSTRIAL: Live measures should be institut $3.35, and Hotels to 15.55. H.K.
WORKERS
CHUNGKING, May 5. (Cen- tra)-One of the important consequences of the Chinese industrial movement to the western interior is the trans- formation of thousands of peasants into Industrial work-
ETS.
ed-to-readjust the population di Bank shares register modest im. tribution in those farming disprovement, with recorded transac tricts which have been "ravaged tions at $1,370 and Unions are bet- by the war in order to hasten the ter by a point or two at $440.
Vibro Piling were taken up to restoration of agrarian prosperity.$71, and are well supported at
LAND VALUES Second, readjustment land
of should be tackled at the very beginning of post-war economic
this. Marsman (Hongkong), after early transactions at 4/6d, declin- ed to 4/3) sales, with this price bid at close.
The Manila market has subsided
reconstruction. Land values should to be more or less nominal, San be first fixed in the industrial Mauricios providing the only in- belts, communication centres.terest with a rise to over one Peso.
constal cities and metropolises and
an order should be issued an-
Outputs
are
These peasants, although many have bat fecently seen their first machine, are fast becoming skilled workers
well maintained, under Intensive training.
but the repeated jolts "administer- Chungking alone is giving jobs nouncing that any incomes reed to that market (as also to most of land others), by the alarmist news from to thousands of Szechwanese who sultant from the rise were formerly tenant farmers. prices should go to the state.". Europe seems to have knocked the Although they
Third, post-war utilization work
of stuffing out of investors and bull sometimes as many as 12 hours a land should meet with the needs operators alike, and it will pro- day, they get much higher pay of modern economic development.bably take a week or two lessen- than working in the field. The Rational
manage-Ing tension in Europe to restore average pay is $40 a month.
have
to
agricultural
ment should receive due atten-confidence to that somewhat mer-
叫
To supply the nation with ation. "A relimitation of land curial market.
continuous QFITY of trained should be instituted in the more Closing Comment; Hongkong "workers, the Industrial and Miningį deštitute farming regions, while shares look better and improve- |·.
Adjustment Administration of the standardized · owner cultivated ment is likely. Manila: Holders' Ministry of Economics has started farms should be established
disappointment 60 shew
at the Initial classed for training 300 that the war-stricken farmers' sagging trend and Hongkong in- skilled men. They wlly be assigned livelihood may be safeguarded. vestors await a lead from Manila.
Fourth in the course of demo- bilization after the war the war- riors should each be awardej
to work in different factories after their graduation in six months
TYPICAL EXAMPLE
а
A typical example of peasants a piece of land. A reasonable trained to be industrial workers is amount of land should be given to be found in the Yu Feng to the destitute and homeless. Cotton Mill, formerly located in Fifth, preparations should be Chengchow in Honan Province, made to train land administra junction of the Lunghal and the tors, to readjust the land deeds. Pelping-Hankow rallways The and to erect and strengthen A mill, which has 56,000 špindles and post-war land administrative
a power station, with a capacity of {chinery.
3,500 kw.. has now only 9,000 spind'es operating in the vicinity of Chungking..
The scarcity of skilled workers causes operation of the mill on such a restricted scale, Authorities of the factory, however, are cor
CHINA'S GOLD STOCKS
ma-
CHUNGKING, May 5 (Int)
SINGAPORE STOCK QUOTATIONS
The following quotations of 12 leading Singapore stocks have been received by Messrs. Ellis, and
Edgar from Messrs. J. M. Sassoon.
& Co.
:
Bingapore, May 2, 1939.
MIDDLE PRICE Bubber Shares Amalgamated Malay, Estates Ltd., $1.40; Kempas Ltd., $1.60; Bualá Sidim Rubber Co., Ltd., $1,90; |Pajam Ltd., $1.55; Sungel Bagan Rubber Estates Ltd., $1.30 and Tapah Rubber Estates Ltd., $1.45. Tin Shares Petaling Tin Ltd.,"$6,40 and Sun-
900,000 ounces by the end of June gel Luas Tin Dredging Ltd., $1.37i. this year, according to." official statistics of the Ministry of Econo-
fident that in the end of the year: China's gold stocks from all sour- work to the maximum capacity will be possible as a total of 4,000 ces are expected to reach a total of skilled workers. mostly young native girls. will then have com- pleted their training in operating the 1,000 spinning and weaving machines of the mill.
The factory, which has over 8. 000 tons of machinery. is one of ces of "gold and silver to assist the largest cotton mills in China. In an economic victory over Japan
དྷྭན་
mics.
Industrials
Straits Trading Co., Ltd., $25; United Engineers Ltd. (Ordinary), Since the outbreak of hostilities $8.05 and Wearne Brothers Ltd.. China has been mustering all sour- $13.
Gold Shares
Raub Australian Gold Mining Co..
The above quotations are in
It was financed by the Bank, of and every effort has been made by Ltd.. $430. China. Bince the beginning of its the Ministry of Finance to redeem operation !n Chungking two gold coinage, jewelry and bullion, Straits Dollars. months ago, it has already used a for which purpose a Gold and Sil- dozen skilled workers
from ver Redemption Bureau has been Chengchow to train more than 400 established in Chungking.
local girls in the art of spinning and weaving.
F.R.B. CURRENCY
IN NORTH CHINA
SHAREBROKERS'
RESERVE BANK OF INDIA STATEMENT
Calcutta, May 3 ̧(Reuter).
Apr. 21 Apr. 28
ASSOCIATION including
Volume of Business Transacted
TIENTSIN, May 5 (Reuter)—– "on Friday, May 5 1939.
Federal Reserve Bank Currency Electrics
remained steady in the unofficial Trams
market for the conversion of these Wharves notes Into Chinese National H.K, Docks
dollars to gay, being at
count of 30 per cent..
a dis-China Lights (0) Cements
One hundred Chinese National Lands
dollars, therefore, could be bought Marsmaz, Inv.
for 130 FR.B. dollars to-day--
the same price as yesterday.
Notes in circulation Notes held in the Bank-
ing Department)... 20,684 20,722 500 $55,50 Rupee Coin and Bul- 200 18.30 lion in India
**-... 6,563
6,600 100 101.00 Gold Coin and Bul- 100
lion in India ..... 17.00
4,154 4,154 8.30 Securities (Indian.
1,000
500 12.60
Government)
50 33.25 Securities“. (British
300 138.5d.! Government)
3,729 3.729-
5,850 5,950.
More branch offices of the ch WEEKLY RETURNS AND REPORTS
nese Government banks will shortly be established in the inland pro- vinces to aid in the industrial development and economic and financial rehabilitation of the in- land cities. The inland economic development scheme
be divided into four stages, under the Joint "administrative offices of the Bank of China, the Central Bank of China, the Bank of Communion- tions and the Farmers Bank of China Branch offices will be set; up in a xumber. bf cities in) Szechuen, Kwangsi, Kwelchow. Yunnan. Shensi and Bulyuan.
J;
Commodity prices will be re- gulated and standardized from month to month by the Foreign- Trade Readjustment Commission as a measure to encourage exports from Yunnan to foreign countries. The Commission, fa also consider~ ing granting export bounties for 38 products, including pig sking, goal hides, megalls and others..
Public Deposits
Other Deposits:-
BANK OF ENGLAND
Bankers Other Accounts Total
BUSINESS DONE.DURING THE WEEK
Hongkong Bank, $1360, $1262.
$1370.
Union" Ins., $112), $445. Docks, $16), $16.60. Providents, $4.30. Hotels, "$5,35. Land-Deb: -$100. Humphreys, SīŁ
Tramways, $16.10, $16.15, $16.30 China Lights (0), 18.30, China Lights (N), 35.40. Electrics $55
Canton Tees. $1. Cements, $13.70.
Dairy Farms Ex Rs. $201.
SATURDAY, MAY 6, 1939. -PAGE 11
GREEN ISLAND CEMENT CO., LTD.
Sole Selling Agents in Hong Kong and South China for
THE ASSOCIATED PORTLAND CEMENT MANUFACTURERS' PRODUCTS,
"COLORCRETE," "SNOWCRETE,"
"STIPPLECRETE"
Dairy Farms Rights, $1400 $141. & IMPERMO" Waterproofing Compound.
$14.70.
Vibro Piling, $71.
Marsmans (H.K.), $4/3). ·
CHANGES 4 P.M. (CLOSING QUOTATIONS)
BUYERS
Hongkong Bank, $1360.
HK. Docks, $16.70. HK. Lands, $324. Humphreys. $7.
HK. Tramways, $161.- HK. Electrics, $55. Telephones (0), $22. Telephones (N), $7. Dairy Farms Ex Rts., $204 Dairy Farms Rights, $14.85, Entertainments, $8.
SELLERS Hongkong Bank, $1380. China Lights (N), 354.
SALES
Hongkong Bank, $1370. H.K. and K. Wharves." $101. H and 3. Hotels, $5.55. HK. Lands, $331.. Humphreys, Sti.
Macao Electrics, $16.80. Cements, $12.80.
Dairy Farms Ex Rts, $207721. Dairy Farms Rights, $15.10.
·PHILIPPINE GOLD MINING QUOTATIONS
Friday, May 5, 1939.
Antamoks
Coco Grove
Consol, 'Mines
Ban Mauricio
HEAD OFFICE.
TELEPHONE 21463.
EXCHANGE BLDG, HONG KONG.
NACET
BLADES
Buy Nacet and avoid the risk of gambling on Nacet chear blades. Blades are established favourites, because of their high quality and low price, and assure you of many
smooth shaves
clean,
from
Centavos
311
321
00.26
every blade, They at three-peg razors.
1,00
14
58
Suyoc Consol United Paracales
Market Comment—Dull.
NACET
RCOD. TRADE MARK
MADE IN ENGLAND
NOBLADES
THORNYCROFT
İLAMMERTS' AUCTIONS
PUBLIC AUCTION.
THE Undersigned have received
instructions
To SELL BY
PUBLIC AUCTION
ON
TUESDAY, the 9th MAY, 1939.
Commencing at 2.30 p.m.
At their Sales Room, No. 2 Con-
Road., Central, Ground
naught
Floor.
__À_QUANTITY_
ANTITY—OF VALUABLE. HOUSEHOLD FURNITURE'
Comprising:-"
Iron and Teakwood 'Bedsteads, Wardrobes, Dressing. Tables, Chests Dinner of Drawers, Sideboards, Waggons, Dining Tables, Chairs, Chesterfield Buites, Hatstand, Desks, Typewriter Tables, Book- cases, Filing Cabinets, Glass Cabinets, Sewing Machine, Filter, Pictures, Wardrobe Trunk, Gramo- phone and Records. Electric Tablę Faris, Ornamenta, Porcelain, "Giass, E. F. and Brass Ware, Cutlery, Ice. Chests, Rugs, etc., etc.
also
A FEW PIECES OF BLACKWOOD FURNITURE
and
1 Grandfather Clock
1 Surf Board
1 11-Tubes "Philco" Radio and
Gramophone Playing Desk
1 "Underwood" Typewriter
2 Canvas Canoes
On VIEW from MONDAY.- the 8th MAY, 1939.
TERMS
-Cash on Delivery.
LAMMERT BROS..
AUCTIONEERS,
Here's a REAL boon to boatowners !
£
London, May 4 (Reuter).
April 20"."
April-20 £
26,960
91,428
10,490.
108,210
Two cylinders
37,590
37,040
129,010
145,250
Government Becurities
107.160
111,910
Discounts and Advances Securities
22.340-
28,510
8,180 21,940 30,120
Engine, speed:
Notes and Cofris
38,010
31,150
227,090
226,910
489,080
195,450
24.38%
20.19%
Other Securities:-
Total
Totál Bullions
Notes in circulation .... Ratio of Reserve to Liablities
FEDERAL RESERVE SYSTEM
New York, May 4 - (Reuter);
(000's omitted)
April 27
- Bills Bought
V.B. Securities held
$2,564,000
Federal Reserve Ratio
Federal Reserve Credit Outstanding.
1,000
85.15% 2.580,000
Monetary Gold Stock up
15,714.000
Industrial Advance ...
13.291.000
1,000
2,564.000 35.26% 3.572,000 -15.801.000
42.2011.600.
the
HEAVY OIL
THORNYCROFT
'HANDYBILLY
operated on the Hesselman principle
and, with ven little increase in weight
very
or overall dimensions, combines the lighter weight and smoother running of the petrol engine with the low fuel cost of the diesel,
9 H.P.
Bore, 34 in. (89 m.m.), Stroke, 4 in. (114.2 m.m.); Displacement, 86.5 cu. ins. (1415 c.c.).
1,100 r.p.m.
Fitted with reducing-reversing gear,-
Tailshaft speed: 700 r.p.m.
THORNYCROFT
stands for
Satisfaction
FOR FURTHER PARTICULAR8
APPLY
TO OUR
HONG KONG OFFICE. TEL. 22363
ST. GEORGE'S BUILDING, 1ST FLOOR.