HONGKONG DAILY PRESS
Finance and Commerce
:
IRRIGATION SYSTEMS BEING DEVELOPED
Four Schemes In North-West And South-West Provinces
"CHUNGKING," May 8 (Central) The irrigation-systems-in- China's north-west and south-west are receiving the fallest at- tention from the National Government. By the summer of 1938 the government had completed, at an aggregate cost of $21,860,000. four irrigation systems in the north-western provinces of Ning- hala, Shenal, and Kanau, serving a total of 156,000 acres of farm Jand.
Business Rise Is Predicted
Washington. May 9 (Reuter). Mr. Hopkins, the U.S. Secre~ tary of Commerce, commenting on the business outlook, fore- sees a moderate rise in business for the remainder of the year,
LANCASHIRE COTTON
Deputation Seeks Govt. Assistance
LONDON, May 9 (Reuter) With the idea of pressing the Government to help the Lan- cashire cotton industry, a de putation representing the Lan- cashire. local authorities called on Mr. Oliver Stanley, President of the Board of Trade to-day and had a two- and-a-half hours' discussion with him.
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2 re-
The Government is now pushing
The deputation submitted ahead with four more systems in
memorandum calling for these provinces so that the land vision of the existing trade agree: may yield enough to support the ments and for subsidising the Increasing number of refugees and port trade.
ex the armed forces stationed in the region.
An agreed statement, which was The largest and the most im Stanley suld
subsequently issued, states that Mr. portant of these modern irrigation ment would continue to do a
that the Govern- works is the Lohul Canal in central within its power to promete the Shens! Work on this canal started interests of the Industry consistent more than four years ago and is with national advantage.. almost finished. This project.
FINANCE
Control Of Imports Into China
MOVE TO PREVENT INFLUX OF LUXURY GOODS
KUNMING, May 9 (Intl)—The National Government is consider- ing rigid control of imports to China through strict enforcement of customs regulations and imita- tion of granting föreign exchange. It was learned to-day.
The Government was reported to have realized that there has been too heavy importation of foreign, goods, especially luxuries, and it Is, stated the Customs would be ordered to prevent this shipment as
change would be granted only when much as possible, Foreign ex-
importers could show necessity for such purchases.
extreme
This measure. It was pointed out, would be in line with Government Stabilization Fund and bullding up polley of protecting its Exchange China's supply of foreign exchange. At the same time, the Government would promote export of Chinese products, such as wood of, tung
custing more than $2.000.000, .com- It is understood that Mr. Stanley, prises an overflow dam, ave tun-who spoke for fifty minutes, intioll and other commodities in order nels; one of which is more than mated that. If other thing, falled, further to increase foreign -ex-
He "scorned the pessimistic at-1.000 yards long, 45 miles of canal, the Government would rule out the change. titude adopted last week by the two sluices, 45 bridges, and 31 principle of subsidy.
Chamber of Commerce Convention
and expressed
the opinion that not represent the majority of business views.
it did
com-
Mr. Hopkins advocated a tinuance of the administration's spending programme for the next twelve months
He refused to discuss tax re- vision pending further conversa- Lions with the members of the administration and adopted the same attitude when asked whether he was still standing on his..pro- posals for business encouragement which he outlined in his February speech at Demnotnes.
"culverts. The capacity of this canal is sumctent for 93,400 acres,
HEIHUI CANAL
The Helhul Canal, now un- der construction at a cost of $160.000 will run through a cotton and wheat region in central Shens!, where rainfall is irregular. The entire system is designed to inigate about 20.000 acres.
Waters of the Chienho, which traverse the important trading centres of Pacchi and Fenhslang in southwestern Shens will be diverted to Irrigate & 20,000-acre fertile valley on the left bank of
PROFIT OF OVER the river. A dam and a system of
£1,000,000
Cable & Wireless
In 1938
conals with locks and gates are now under construction. The main canal is 20 miles in length with a tunnel of 1.190 metres. This, pro- jeet will cost $730.000.
Following the completion of the $250,000 Touhut Canal in Kansu in 1938, the authorities there have
central" Kansu. The
kilometres in
At the general meeting of Cable started their second project, the and Wireless held recently, the Huanghul Canal, which will draw Chairman, in the course of water from the Huang River in his address to the shareholders, Yungteng in commented on the results of the main canal is 25 working of the company daring length, having an Irrigation capa- 1938, which, he said, showed a city of 6.000 acres. The total cost very satisfactory profit of just over of construction is estimated at £1,000,000, which
was £250.000 $300,000.
less than the profit in the previous year when £300,000 was set aside
of the
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PLENTIFUL WATER SUPPLY
Szechwan is also enjoying the assistance of Government hydraulic engineers in utilizing Its plentiful water supply.
Among the projects now under construction is the Melshan Irrigation system to the west of Melshan, 80 miles south of Chengte,
to provide for the effect Empire Flat Rate Scheme.
The dividend recommended was 31 per cent. as agatrist 33 per cent. paid last year while the carry- forward was increased by £26,000. The lower profit is mainly due tu two-causes the reduction ok rates Un the introduction of the Empire Fiat Rate Scheme and the contraction of world trade caused The Pengmel West Irrigation | by disturbed international condi-District is the largest undertaking tions. To gain a proper perspec- proposed for western Szechwan. tive however it would be well to which will irrigate 12,000 acres of look back to the years 1931 and fertile land. The cost for the 1932 when the profits were £75.000 project is $300,000..
and £80,000 respectively as against the £1000.000 this year.
EXPENSES
The expenses show,
Besides, five more projects to arrest the rivers in Szechwan to water a total of 24,900 acres are now under survey by the Ministry
a reduction (al" Economics..
of £210,000 which is reflected in practically every item. There is a slight Increase in working expenses at stations due to the opening of
DRAINAGE WORK
One thousand acres of farm land
a new station, and the acquisition will be added to the Kwelchow
of wireless installations at Hong-farming area when drainage work kong both of which should be re-on marshy areas in Antung, south- garded as revenue producing. The western Kwelchow, is completed. of maintenance of cables Another 1,000 acres in Tingfan in shows an increase of £40,000, but central Kwelchow.will not have this is necessarily a varying figure, drought When two Irrigation
cost
H. K. STOCK EXCHANGE
The market continued bullish and there was a fair turnover re- corded
Since the close of last year a systems in this district are com- further step has been taken by the pleted.
introduction of a reduced Empire
flat rate for press traffic which
came lato force on April 15 last.
a highly efficient condition and
The Kwangsi provincial au- thorities have already achieved good results with their irriga-
The service was maintained inition works. There are 41,000
was constantly being developed and improved both acientifically and mechanically. They had a loyal, able and enthusiastic staff | second to none working in a worldwide organization and em- bracing many races and national- ties.
..
acres of land now under some system of modern irrigation, and 22,500 acres more will be properly watered when work now under construction is com- pleted.
A big exhibition of hosiery and
Buyers are still unsatisfied but somewhat backward in advancing their prices.
U.S. COAL STRIKEking machinery will be held
BUYERS
Hongkong Bank, $135" Canton Ins, $2271. HK Fire Ins., $180. HK. & K. Wharves, $100, HK. Docks, $16. Providents, $44.
H. & S. Hotels, 35. HK Lands, 329. Humphreys, $74... "Yaumati Ferries, $22.60. China Lights (O), $8.40. HK Electrics, $55 Macao Electrics, $16.60. Sandakan Lights, $12.10. Teltphones (0), $231. TelephoneruN), `$7.20. Canton Ices, $1.
Dairy Farms Ex Res.. $201. Dairy Farms Rts, $15.
Wing On (HK.), $43.
Entertainments, $61
H.K. Govt. 4% Loan 3% prem.
HK. Gov. 3} Loạn bu
SELLERS
Hongkong Bank, 51370. Union Ins., $440.
H. & S. Hotels, $5.80. Providents, $43, H.K Tramways, $16.65.
SALES
Union Ins., $130/7}. - H.K, Lands, $331. H.K. Tramways, $18.60/6). Humphreys, $71.
Star Ferries, $65, Telephones (0), $23/234. HK. Ropes, $3.70.
Dairy Farms Ex Rta., $21. Dairy Farms Rts, als.
Marsmans (HK.), 4/2}.
PHILIPPINE GOLD MINING.
QUOTATIONS
Antamoks, Atoks
Centaron
31
31
Benguet Conso!. Coco Grove
11.40
Consolidated Mines
34) 003 *1.06 58
PHILLIPPINE MINING QUOTATIONS
San Mauricio
United Paracale
Atoks
Tuesday, May 9, 1939,
Centavos
Antamoks
31
31
Benguet Consol,
11,40
34)
Consolidated Mines
003
1.OR
58
Coco Grave "..
Ban Mauricio
United Paracales.......
'Market Comment Quiet.
AT CURRENT RATES"
.
It is understood that the Govern- ment would require exporters to turn in their accumulated foreign exchange, for which they would be paid the current exchange rate in Comestic currency. This would give the government the needed foreign currencies, while the ex- porter was being fully paid for his goods. It was pointed out.
HONGKONG
SHAREBROKERS'
ASSOCIATION Volante of Business Transacted on Tuesday, May 5, 1939.
500-$5.55
In Leicester next October, The NEW YORK, May 9 (Reuter) first was held at Leicester" three Representatives of minera and years ago, and last year's at owners have accepted an invitation Manchester. It was described
as Hotels.... to confer with President Roosevelt one of the most successful, trade Telephones (0) In an effort to end the coal strike exhibitions ever held in the coun-Telephones (0) in the Appalachian region,
try.
China Lights (N).
.: 500 23,50
Messrs. Koela
Producer-Cas Plant Copmany. Limited. Aldwych London, W. C. 2, inform us that they have entered into an agree- ment for the supply of a minimum of 1,500 of their gas-producer pllants to India within the next two years.
300 23.251 260.4.50
Maldon
WEDNESDAY, MAY 10, 1939-PAGE TI
AH TUNG
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Engraving is the hall mark
VISITING CARDS.
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use our cards
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LAMMERTS' AUCTIONS
PUBLIC AUCTION,
THE Undersigned have received
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TO SELL BY
PUBLIC AUCTION
он
FRIDAY, the 12th MAY 1939.
Commencing at 2.30 p.m.
At their Sales Room, No. 35. Hankow Road, Kowloom.
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On VIEW-from THURSDAY,
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LAMMERT BROS..
AUCTIONEERS.
PUBLIC AUCTION.
THE Undersigned have received
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TO SELL BY
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"SATURDAY, the 13th MAY, 1939.
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Commencing at 11.00 am.
At their Sales Room, No. 2, Con- naught Road, Central (Room No. 205, 2nd Floor).
A Quantity of Yaluable Chinese Curlos, Lacquered Ware, Prints and Paintings
also
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RENT STREET.W.İ.
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