HONGKONG DAILY PRESS
BANKS
HONGKONG AND
SHANGHAI BANKING
CORPORATION
Authorised Capital $50,000,000
THE CHARTEREDTM
BANK OF INDIA.
AUSTRALIA &
CHINA
SHARE MARKET
REV
BY C. A. L. RICKETT
Secretary, Hongkong Sharebrokers"· Association The local market continued quiet through the week. The undertone has been without appreciable
Issued & Fully Paid-Up $20,000,000 | Incorporatedviny Royal Charter, 1853 change in price levels. The volume Reserve Funds:
Sterling
...£8,500,000
B.K, Currency Reserve $10,000,000 Paid-up Capital ... Reserve Liability of
Reserve Fand Proprietors
Head Office:-HONG KONG
"Board of Directors. Hon, Mr. A. L. Shields,
W. H. Look, Esq.,
Chtirman.
Deputy Chairman.
J. K. Bousfield, Esq.,
A. E. Compton, Esq..
D. F. Landale, Esq.,
K. S. Morrison, Esq.,
Hen. Mr. S. H. Dodwell,
G. Miskia. Enq
Hon. Mr. T. E. Pearce,
H. V. Wilkinson, Esq..
Sir Vandeleur M. Grayburn,
FINANCE
£4,000,000 Newsprint Trade: Australia Builds Own Mill
Australis moves to furnish its own newsprint"with the orders recently placed by the Australian Newsprint Mills concern for machinery and hydroelectric power to enable a start to be made with a £4,000,000 industry intended eventually to supply 100,000 tons of newsprint a year. – £3,000,000 | anything, less than that recorded £3,000,000 for the previous week. In the the pooling of assets of two news-
The company is the result
HEAD OFFICE: LONDON: 38, Bishopsgate EC.2. Sub-Agencies in London: 117/122. Leadenhall Street, E.Ç.3. West End Branch; 14/16, Cockspar Street, S.W.1. Manchester Branch:
52. Mosley, Street, Manchester, 2
AGENCIES AND BRANCHES: ALOR STAR
HARBIN
PERANG HONG KONG PANGOON ILOILO
SAIGON IPOE KARACHI XLANG
AMRITSAR
BANGKOK
·BATAVIA " BOMBAY
Chief Manager. | CALCUTTA
AGENCIES: KOBE
CLIVE TEXT
FAIRLIK PLACY KUALA
CANTON
CAWNPORE
ei
SEREMBAN
Amoy
Branches:- Ipoh
Penang
Bangkok
Johore
Rangoon
Batavia
Kobe
Saigon
San
COLOMAO
MANILA
Francisco
DELHI
MEDAN
Chefoo
Londeo
Singapore
HAIPHONG
11
Colombo
Lycus Sourabaya.
HAMBURG
NEW YORK PEIPINO
SHANGHAI SINGAPORN SITIAWAN BOURABAYA LUMPTA TAIPINO
TIENTS' KUCHING "MADRĄS”~~~~ TONGKAH
(Bhuket) TEINOTAO YOKOHAMA
Sungei
BANKOW
(Peking)
CEBU
of business has been small-
present restricted state
of the
CHINA LUMBER mania. It brings together all COMPANY
the principal newsprint-consum~ has obtained the Tariff ing interests in Australia.
Board's
ANNUAL MEETING
are providing more than 800-Balance Of $1,781,782
For Past Year
profit and loss account is $1,781,782 The fact that the balance in the
revealed in the report presented at the 37th-enmtar general meeting of the sharericiders in the China Import and Export Lumber Co., Ltd, which was held at shanghai. A total of 189,189 shares was represented;"
$20,000,000 | Reserve Liability of Pro-
prietars........ .£3,000,000 | market any sudden change in the paper groups, which have been world political situation is liable buying up concessions in Tas- to result in very material move- ment price levels. Operators, therefore, are disinclined to com mit themselves too heavily until conditions are more settled, while consent for a bounty. holders of shares appear to face
The newspaper proprietaries the position with a more optimis-000 of the capital required for tic viewpoint feeling that better the initial stage, and the remain prices will be obtained by waiting. der, consisting of £250,000 in pra- Under such conditions it is dimference shares, has been taken up cult to meet clients' orders, both
by the Tasmanian Government. from the viewpoint of the buyer
Was Principal directors of the com- and also that of the seller,"
pany are Sir Keith Murdoch of There has been a sustained demand for Bank shares around
the "Melbourne Herald," Mr. $1350 and
Warwick. Fairfax of the "Sydney 31355, resulting in business
Morning Herald." and Sir Hugh up to $1360. "Electrics Dersion of the "Sydney Sun." came in for enquiry at $56 with
ACRES OF FOREST sales at .3561 Wharves changed The company, which will erect hands at $108 with buyers at $107.the mill at
Mr. J. E. Gray, who acted as HK Docks improved to $18 sales Hobart,
Norfolk, near secretary of the meeting, read a with buyers at $17.80 Trams were
OWTIS 123.000 acres of notice convening the meeting and wanted at $16.40 with sellers, at another 250,000
forest and has concessions of then presented the auditor's report $16.60. Lands have remained steady mania.
acres in Tas- after which the report of the af $34 and Star letries at $65 upon at once, since they contain
The latter will be drawn:directors was presented. FOREIGN EXCHANGE and General Humphreys were wanted at $7.90, the largest stand in Australia of of $56,802.33 has been paid out of The report stated that the sum Banking Business transacted.
Watsons at $7.80 and Realties at eucalyptus regnans (swamp gun revenue CURRENT ACCOUNTS opened and $4.40. Hotels could be obtained at or mountain ash).
for repairing and FIXED DEPOSITs received for One $51.
maintaining the company's pro- Year or shorter periods in Local or
Gold mining stocks have been bounty, which is a
The company considers that the perties during the year. In addition Other Currencies at rates which will very quiet and prices have been in- £4 a ton, will enable it to com- general equipment at Shangbai maximum of to this, all buildings, "plant and be quoted on application.
clined to give way through lack of pete with imported Current Accounts opened in
SAVINGS ACCOUNTS also opened in interest. Antamoks lost 4 ctvs to although in any case, its con- down by a total of $144,543.33 in newsprint and at agencies have been written Local Currency and Fixed Deposits Local Currency and Sterling with 27 ctvs. United Paracale receded atituent newspapers have contract accordance with the established received for one year or shorter interest allowed. at rates obtainable to 54 ctvs, a loss of 8 ctvs. Coco ed to periods in Local and other Cur-on application.
Grove, lost 3 ctvs at 35 ctvs. 8an output.
take the whole of its depreciation schedule, and all pro- rencies on terms which will be The Bank's Head Office in Mauricio has
perties under remained steady quoted on application,
the Loudon undertakes Executor and aready
Actual production will
company's Also up to date Safe Deposit Trustee business, and claims re Benguet Consolidated at Ps. 11.60. ployment will be given in the first
around Pa
begin control are now in good condition. 1.03 and within a year or 18 months. E- covery of British Income Tax The market is a little caster at stage to about 300 men, rising to overpaid, on terma which--may be ascertained at any of the Agencies and Branches.
Bumbay-Kowitan
Calcutta Kuala
Canton Lumpur Shanghai
Dairea Malacca Foochow Manila Haiphong Muar
Patani Swatow Hamburg (Johore) Tientsin Hackow Mukden Tokyo Harbin New York Thingtao Honghew Peiping Yokohama, Iloilo
Boxes in various sizes To Let Hong Kong, 13th Mar. 1830.
HONGKONG SAVINGS
BANK
The Business of the above Back is conducted by the HONG KONG & SHANGHAI BANKING COR- PORATION.. Rules may be ob tained on application..
For the HONG KONG & SHANGHAI BANKING CORPORATION.
V. M. Grayburn,
Chief Manager.
Hong Kong, 26th Feb., 1939.
R. A. CAMIDGE,
Manager.
THE CHASE BANK
15, QUEEN'S ROAD CENTRAL
HEAD OFFICE:
18, PINE STREET,
NEW YORK. An Americau Bank offering com- plete Foreign Banking Service in the principal Markets of the world.. Authorised Capital....$10,000,000.00 Interest Rates on Application.-
BANK OF EAST ASIA,
LIMITED
Paid-up. Capital Beserve and Undivided
Profits
5,588,600.00
2,883,832.01
Head Office:-HONG KONG No. 10 Des Voeux Road. Central
Board of Directors:
Bir Shouson Chow, Chainman
Li Koop Chub, Esq. Li Lan Sarg, Esq. P. K. Kwok, Esq. Wong Chuson, Esq. Wong Yan Tong, Esq. Kan Ying Po, Esq. ChanChingBhek, Esq. FungPingWab.Eng.
Han Tong Fo, Esq., Chief Manager, Li Two Fong, Esq., Manager.
Amoy Batarin Bombay Orientia Haiphong Hankow Kosalala Kobe
Branches and Agencias :—.
Kowloo London
Singapore Bangor Bourabaya Balgon Bwatow
Helbourne Bar Fran,, Sydney
seo Tantala Battle Vancouver
Manlia
Migaks.
New York Party
Pelping Shanghai
the close.
CHINA'S NEW PRODUCTION MOVE IS ON
CHUNGKING, May 21 (Central)
New
800 in the final stage.
The whole of Australia's pre- sent newsprint is imported, prin cipally from Canada and Great
Britain.
MEXICAN OIL DISPUTE
17
"$500,000 SET ASIDE
In-view of the unsettled con- ditions which continue to prevail, look with respect to certain areas and of the uncertain future out- wherein the company operates, the directors have considered. It ex- pedient to set aside the sum of $500,000.00 out of the year's earn- ings for the creation of a special reserve for depreciation of assets, and this now appears in the
Demand By Works' balance sheet.
Union
that
-With the successful conclusion] of the National Production Con- ference, the nation's new produc-
After allowing for Depreciation aforesaid, providing for tion move is on declared Dr. H. H.
MEXICO CITY, May 21 (Reuter) Directors and Auditors Fees, and
demand" Kung, President of the Executive-A
President deducting Interim Dividend of 4 Yuan and concurrently Minister of Cardenas hand over absolute man- per cent. paid in September, 1938, Finance, in his closing address. agement of the petroleum industry, the balance in "Profit and Loss The aim of the conference, Dr. on conditions similar to those Loss Account is $1,271,74175, which Kung said is to mobilize the en-under which labour at present with the sum of $510,040.60 brought tire resources of the nation, in administers the national railways, forward from the previous year, manpower as well as in materia: is being made by the Mexican provides a total of $1/8237 for This Bank is entirely owned by strength of resistance, and lay a
assets, to increase the
Petroleum Workers Union. ...disposal, THE CHASE NATIONAL BANK,
The Union is meeting here over NEW YORK, with Besources over
lasting foundation for national the week-end. U.S. $2,500,000,000.
reconstruction.
SAFE DEPOSIT BOXES
D. M. BIGGAB,
M
Manager.
LONDON. METALS
EXCHANGE.
London, May 19 (Reuter),
COPPER
ration's
To attaka, maximum co-or- dination and efficiency, Dr. Kung said, four important points must be observed in the formulation of any plans and programmes concerning tional enterprises.
The directors recommend that
The notice of the conference this be disposed of as follows: to emphasises that the Union will create a reserve for equalization night to the bitter end any sugges of dividends amounting to $500.000; tion that the President and Mr.ta set aside $519,238.72 with which Donald Richberg (the American to pay a final dividend of $2.24 per attorney who is conducting negotia share, making $280 per share for tions on behalf of the expropriated the year under review; and to foreign all companies) should reach carry forward to the new account These are first, the reduction a settlement on the basis of return a balance of $762.543.05. to a minimum of the number of of properties or their management, the workless; second, employment to the former owners.
na-
to its utmost capacity of every
material asset of the nation; third CITY DEVELOPMENT
bugers sellers
£ Standard. Cash 41-1/8 Standard.
.E 41-3/8
observation of the
greatest
economy; and fourth, timely con-
3 months 41-1/2 Electrolytic 47
approved Standard, Cash 226 Standard,
41-9/16 47-3/4
summation of all productive work.
Every description of Banking and Exchange business transacted. Loans granted on securities
Current Accounts opened in Local Currency and Fixed Deposita re-
*TIN
3 months 223-1/2
LEAD
ceived for one year or shorter Foreign,
periods in Local and Foreign Cur- Official Price 14-5/16
rencies
on terms which will be
quoted on application.
Safe Deposit Boxes To Let
KAN TONG PO,
Chief, Manager.
BANK OF CHINA
Specially Chartered by
THE NATIONAL GOVERNMENT
OF CHINA AS AN "
INTERNATIONAL EXCHANGE
BANK
ORDINANCE
OPERATIONS PROFIT
.new
MONDAY, MAY 22, 1939-PAGE 13
PRESIDENT LINER
Sailings
FOR SAN FRANCISCO & LOS ANGELES
via SHANGHAI, KOBE, YOKOHAMA and HONOLULU
Sails June 3rd at 12 Noor
S.S. * PRESIDENT COOLITGE" S.S." PRESIDENT TAFT "
24
June 18th at 18.01 A.M..
88. "PRESIDENT OLEVELAND". 8.S. "PRESIDENT PIERCE" 88. * PŘESIDENT COOLIDGE" S.S. PRESIDENT TAFT.",
AND FORTNIGHTLY THEREAFTER
ช
June 30th at 18.01 A M.
ม
July 14th at 12.01 A.M.
July 99th at 10.00 AM.
Aug. 19th at 8.00 A.M.
',
FOR NEW YORK & BOSTON vis SUEZ
SS. PRESİDENT HAYES" 88." PRESIDENT POLK"
Sails May 26th at 12 Nook, June 9th at 11 Noor
AND FORTNIGHTLY THEREAFTER
FOR
MANILA
8.S. PRESIDENT COOLIDGE" 8.8. "PRESIDENT TÄFT" S.S. “ PRESIDENT PÖLK" S.S." PRESIDENT CLEVELAND"
Sails May 26th at 9.00 P.M.
June 9th at 1.00 A.M. June 9th at 18., Noo June 23rd at 1.00 A.M.
AMERICAN PRESIDENT LINES
"ROUND WORLD SERVICES
12, PEDDER ST.
THE
TEL 28171.
CHINA-SIAM.
LINE.
HONG KONG-BANGKOK ·
LA HELLAS" leaving Hong Kong 31st May via Swatow HONG KONG-SWATOW-AMOY m.s."HAI HING" leaving Hong Kong 22nd May Accepting Passengeri & Cargo for all the above metioned ports. HONG KONG-SINGAPORE—PENANG-RANGOON
Begular Express Service
28th May
m.s. "HAI HING" leaving Hong Kong
Accepting cargo for all the above mentioned porta.
Excellent passenger accommodation available. For freight, passage rates and all other information-Apply to 1- THORESEN & CO., LTD.
Queen's Building,
Tel. 30237.
General Agents.
THE BEN LINE STEAMERS, LTD.
S.S. "BENMACDHUI"
Sailing for
LONDON, ROTTERDAM, ANTWERP, HAMBURG and LEITH on or about the 9th June, 1939.
Cargo will also be accepted on through Bill of Lading to the usual transhipment ports,
For Freight and Passage apply
to the Agents:
W. R. LOXLEY & CO., (CHINA) LTD. York Building.
Tel. 34165
The operations of the company's Dry kiln Co., Ltd., for the year subsidiary, China Woodworking &
ending December 31, 1938, resulted In a profit of $14,712,71. This has The Government Gazette, noti-been deducted from the loss of $148.- Shortly before the conclusion of files that His Majesty the King has 69110 brought forward from 1937, the conference, a lengthy mani-not been advised to exercise his and the balance of $131,978.39 has 228-1/8 festo was read and issued to the power of disallowance with respect been carried forward to
entire country. It stresses the im- to an Ordinance for the repeal of account in the books of China CONSIGNEES' NOTICES portance of developing agriculture, the Government House and City Woodworking & Dry Klin Co.. forestry, industry, mining and com- Development Scheme Ordinance. Ltd. munications in the southwest and 1934, and for the appropriation to northwest, and emphasizes the the general revenue of the Colony " urgency of a thorough readjust- of any balance standing to the ment of capital and labour as well credit of the Fund at the Treasury SINGAPORE STOCK as productive education during the established under section 4 of that wartime and all times.
223-5/8
3 months 14-1/2
SPELTER
14-3/8
14-0/18
| Foreign Official
Ordinary,.-.
Official Price, 13-1/2 13-9/16 Ordinary, Oficial
3 months 13-13/18 13-778 Final Afternoon -Transactions Tin, Standard, Cash, £226 paid and buyers. ·
Tin, Standard, 3 months, £224 paid and sellers...
PAID-UP CAPITAL $40,000,000.0 Merchant Shipping
\{BRANCHES ALL OVER CHINA)
Owing to our numerous Branches
in China and connections in the
principal Commercial Centres of
Amendment
In exercise of the powers con-
the World, we are able to extend ferred by Bections 28 and 42 of the to our Clients special facilities for Merchant Shipping Ordinance, 1899, Domestic and Foreign Banking sad and of all other powers him enabl Exchange..
Head Office: SHANGHAI
Hong Kong Branch:
4, QUEEN'S ROAD, C., South China Officer:
CANTON
SWATOW SHILOHOW
KONGMOON TOISHAN KINGCHOW
bag the Governor in Council amends the régulations, in Table U of the Regulations to the, said Ordinance appearing on pages 373 to 382 of the Regulations of Hong- kong (1937 Edition) as follows:—
SAU AMENDMENTS. After Regulation 11A the follow- |ing regulation numbered 113 - 15
We also handle the imue of added Bonds and other Publip "Funds of
the Chinese Government both at 118. No vessel shall be moored or
Home and Abroad. :
tied to any Admiralty busy without the permission of the Harbour Manager, Master
SHOU J. CHEN, D
Ordinance,
HONGKONG SHAREBROKERS'
ASSOCIATION
VOLUME OF BUSINESS, TRANSACTED FOR WEEK ENDING
HK. Banka
Union Ins Trams
13.50 to 13.70 22.60 to -24.00 to 23.75 8.60 to 8.50
5.50 to
13.00 to
MAY 19, 1939
35
10
$1350.00 to $1350.00
437.50 to
1050..
Yaumati Ferries
600
Telephones (0)
400
China Lights (0)
1144
China Lights" (N)
200
Cemente
700
200
3.66 to
150
68.25 to
240
34.00 to 34.50
200
17.80, to
Providenta Ewos
1000
4.05 to
500
*18.50. to
Marsman (HK)
500
4.
Ban Mauricio
7000
Ps
Antarnokg
22200
106 to PE 1.10 37 to Pa 28
1000 Pa 4500
P
to Ps 221
Nanyangs Electrics Lands
-HK Docks
United Paracale
Demonstrations Coco Grove"..... Banta Rosa
Shanghat currency
2000 1000
100000
AAAACKA
QUOTATIONS
Bingapore. May 16.
The following quotations of 12 leading Singapore stocks
have
been received by Messrs. Ellis, and
SILVER LINE.
NOTICE TO CONSIGNEES
FROM
NEW YORK, LOS ANGELES & SAN FRANCISCO.
Edgar from Mesars. Ji M. BassoonBE Motor Vessel & Co.
MIDDLE PRICE.
Babber Shares s
Amalgamated Malay Estate Ltd., $1.45; Kempas Ltd. $1,65; Kuala Sidiin Rubber Company Ltd. $2.05; Japam Ltd., $1.60; Bunge! Bazan Rubber Extates, $1.25 and Tapah Rubber Estates Ltd; $1.40
Tin Shar Sunget Luas Tin Dredging Ltd.. Fetaling Tin LC $5.60 and
$1.35
Industrial
Straits Trading Co. Ltd., $25.25. United Engineers Ltd. (Ordinary) $8.25 and Weare Brothers Ltd., $12.75.
Gold Shares
Raub Australian Gold
Gold Mining Co., Ltd., $4.60 0.4
The above quotations are in Straits Dollars.
* SILVERSANDAL
NOTICE TO CONSIGNEER
OCEAN STEAM SHIP CO., LTD,
AND
CHINA MUTUAL STEAM NAVIGATION CO. LTD.
ONSIGNEES per Co's Vessel. ACHILLES"
FROM UNITED KINGDOM VIA SINGAPORE are hereby notified that their cargo will be discharged into Holt's Wharf Kowloon, where it will lie at consignses
having arrived from the shore Porta on zisk and subject to terms and consi 19th instant, Consignees of Cargo are tons of storage al Belts Wharf The being landed at thair rink into the Go Godown on and after 20th May, hereby informed that their Goods are Cargo will be ready for delivery frond downs of the Hong Kong and Kowloon here, unless notice has been given price
Optional
carec will not be landed. Wharf and Godown Company, lámítal, Kowloon, and stoped at Consignges risk from part to park to the final port of to steamer's arrival bat carried ou and expense.
All broken, chated, and damaged Good, call to which the option extends. are to be left in the Godowns, where jk, All broken, chafed and damaged they will be examined on Thursday, Rooda are to be left in the Godown 25to instant, at 10a.m.
where they will be examined on any 15 Days of La vossal's arrival hors, there storage period, within All Claims must be presented within Tuesdays and Fridays between the
hours of 1045 am, and
after which date they cannot be re
No claims will be admitted after the cognized batmitted after the Goods have left the steamer's: Godowy
Freistaa
No Olaim Goods have left the Godowns, and all and all Goods remaining undgivered get inst 1835, will be subject to Goods remaining undelivered after, the after the 27th May, will be subject to Rest.
All Claims against the Steamermanat A be presented to the undersigned on or No Fire Insurance has been affected before the 10th June, or they will not Bills of Lading be countersigned be recognised.
FURNESS (FAR EAST) LTD. fnd Floor, Hongkong Shanghai Brak Building, Das 23165 & 28100/
Hong Kong, 19th May, 1980,
No Fire Ingrance will be affected
BUTTERFIELD & SWIRE, Both May 1980.