HONGKONG DAILY PRESS
BANKS
HONGKONG & SHANGHAI THE CHARTERED BANK OF
BANKING CORPORATION
Authorised Capital 850,000,000 Issued & Fully Faid-Up 820,000,000
Reserve Funds:
Sterling
INDIA, AUSTRALIA
CHINA'S COTTON INDUSTRY
IN WAR TIME
CHUNGKING, June 24 (Central) lace the war, China has lost AND CHINA
1,800,000 spindles and 18,000 Jooms, Incorporated by Royal Charter, 1859 approximately 70 per cent, of her pre-war textile strength, which re- Paid-Up Capital £3,000,000 present a total financial loss of £6,500,000 Reserve Fund
than $100,000,000 Chinese £3,000,000 more H.K. Currency Reserve $10,000,000 Reserve Liability of Pro-
national currency, Reserve Liability of
prietors ....
£3,000,000- Proprietors
.$90,000,000
HEAD OFFICE: LONDON: 38, Bishopsgate E.C.2. ---Sub-Agencies. In London: 117/192, Leadenhall Street, E.C.a West. End Branch:
Head Office:-HONG KONG
Board of Directors:
A E, Shields, Esq.,.
W. H. Lock, Esq..
Chairman.
Deputy Chairman,
Hon. Mr. J. K. Bousfeld,
A. H. Compton, Esq.,
Hon. Mr. S. H. Dodwell,
D. F. Landale, Esq.,
G. Miskin, Esq.,
K. S. Morrison, Esq.,
Hon. Mr. T. E. Pearce,
H. V. "Wilkinson, Esq.,
Sir Vandeleur M: Grayburn,
Chief Manager.
Branches:
!
14/16, Cookspur Street, B.W.1. Manchester Branch:
59. Mosley Street, Manchester, 2.
AGENCIES AND BRANCHES:
CANTON
CHTE KRI TUALA
FAIRLIN PLACH
CAWNPORE
CB="""""ADRAS**
SEREMBAN SHANGHAI SINGAPORE SITIAWAN BOURABAYA TAIPING TIENTSIN "TONGZ/N:**
(Bhuket) TOINⱭTAG YOKOHAMA
ALOR STAR AMBITEAR BANGIOX BATAVIA BOMBAY
HARKIN HONG KONG ILOILO IPOE KARACHI
PENANG KANGGON BAYGON
| CALCUTTA
KLANG, *
AGENCIES: TOW
LUIQUE
YUCHING
Amoy
Ipoh
Bangkok
Johore
Rangoon
COLOMBO
MANILA
Batavia
Kobe
Saigon
DELHI
Bombay
Kowloon
San
HAIPHONG
» Calcutta
Kuala
MEDAN NEW YORK
PRIPING
Shanghai
Singaporo
Colombo Lyons
Sourabaya
Dairen Malacca
Sungei
Canton Lumpur
Chefoo
London
Foochow Manila
Pensag
Francisco HAMBURG
HANKOW
Patani Haiphong Muar Swatow Hamburg (Johore) Ticutain Hankow Mukden Tokyo Harbin New York Tsingtao Hongkew Feiping Yokohama
Iloilo
2
(Peking)
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 ACCOUNTS also opened in Local Currency and Starling with CURRENT
ACCCUNTs opened in interest allowed at rates obtainable
on application. LOCAL CURRENCY and FIXED DEPOSITS received for one year or shorter! The Bank's Head Office in London periods in Local and other Our-undertakes Executor and Trustee rencipe on terms which will be business, and claims recovery of British Income Tax overpaid, on quoted on application.
Atso up to date SAVE DEPOSIT terms which may be ascertained at Box in various sizes To LET nny of the Agencies and Branches.
R. A. CAMIDGE, Hong Kong, 5th June, 1939,
Manager.
_ HONGKONG SAVINGS
BANK
The Business of the above Bank is conducted by the HONGKONG & SHANGHAI BANKING COR PORATION. Rules may be obtain- ed on application.
For the Hoxoxoxɑ & SHANGHAI
BANKING CORPORATION,
V. M. GRAYBURN,
Chief Manager. Hong Kong, 28th Feb., 1839.
BANK OF EAST ASIA, LIMITED
"
Authorised Capital.....$10,000,000.00 Paid-Up Capital 5,598,800.00 Reserve and Undivided
2,883,932.01
Profits
Head Office:-HONG KONG
No. 10 Des Voeux Road, Central.
Board of Directora:
Bir Shonson Chow, Chairman
Li Koon Chun, Esq.
P. K. Kyck. Esq;
Wong Tun Tong, Esq. Chan Ching 3bok, Eng.
Li Lan Sang, Esq.
Wong Chu Son, Esq.
Kan Ying To, Esq. Fung Ping Wah Esq.
Kan Tong Po, Esq., Chief Manager, Li Toe Fong, Esq., Manager.
Branches and Agencies:-
Kowloo
London
AMOY
Entaria
Bombay
Mantin
Calentik
Melbourne
Haiphong Nagka
Buckow Wenalain Kobe
New York Paris Polping
Редаля Blogape.
Sourabaya Hanzoon
Balgon
NWELOW
Ban Fran. Bydney
olaco Tintin Beattie Taboouver Bemarang Shanghai
THE CHASE BANK
16, QUEEN'S ROAD, CENTRAL
HEAD OFFICE:
15, PINE STREET,
NEW YORK.
An American Bank offering com
plete Foreign Banking Service. in the principal Markets of the world...
Interest Rates on Application.
SAFE DEPOSIT BOXES
This Back is entirely owned by THE CHASE NATIONAL BANE, NEW YORK, with Resources over U.S.$2,500,000,000..
D. M. BIGGAR,
Second Vice Pres
WATER
During a period of 22 months, of Chinese-Japanese hostilities, more than 60 Chinese cotton mills were either destroyed seized by the Japanese, mortgaged or sold to third parties.
To-day in free China 200,000 spindles and 1.000 looms are work. ing over time. In the two foreign settlements in Shanghai, secure
against Japanese seizure, eight mills were recently estab- new Ilshed with
spindles.
FINANCE
HONGKONG SHAREBROKERS
ASSOCIATION
VOLUME OF BUSINESS TRANSACTED FOR WEEK ENDING
~JUNE 23A 1939...
- HK Banks
Union Inspungancadayasanı Lands
10.
400
$1,340.00 440.00
30.20 to
to $1,335.00
Yaumati Ferries
2:00
22.80
to
35.75 22.50
China Lights (0)
1.294
8.25
China Lights (N)......
87
5.30 to
5.20
Sun Co. (H.K.) Sinceres
648
2:30
1,000
1,98
Providents..(0)
1,000
4.65
700
14.80
Watons
500
8.80
Entertainments
250
6.90
Telephones (N)~
-500
7.45
Benguet Consol.
100
Ps. 10.80.
10.000
PB. 0.11
5,000
Ps. 0.341
2,000 Pa. 0.25
3,000
Ps. 0.211
..Trams
Masbate Itogons
Itogons".
Antamoks
籍 total of 30,000 SHARE MARKET
REVIEW
HONGKONG SHAREBROKERS'
ASSOCIATION
H. K. STOCK EXCHANGE
The market was quiet and fea- tureless
BUYERS
HK. Bank, $1330,
Providents; $4.65. Rauba, 38.40.
E & 8. Hotels, $54.
HK, Lands, 4% Debentures, par. HK Tramways, $18,80, China Lights (Old), $8.20. H.K. Electrics, 355
Canton Ices, $1. Dairy Farma (Old), $21). H.K. Govt, 4% loan 9%p.m.
SELLEKS
Meanwhile, around Chungking a number of new cotton mills have been or are being established, In Yunnan, several new mills are also being installed. The Yunnan Cot- ton Mill, which was completed in August 1981 reass 1 The market has been very quiet-HK-Wharves $106. spindles from 10,000 to 30,000 with throughout the week and the u- loans from the Bank of China. The dertone has continued steady. In same bank is also Anancially in spite of the growing tension in the Far East price levels have been terested in the erection of new well maintained. With the excep- millis in Hunan and Shensi, “
tion of isolated cases holders of When the spindles removed from shares display no anxiety to sell. the war zones are all in operation On the other hand investors are again, and the new mils either cautious but And dificulty in planned or under construction obtaining shares. The market has completed, there will be a total of become so restricted that brokers. 500,000 spindles and 5,000 looms. If acting as either buyers or sellers, to these are added Chinese mills fa find it almost impossible to put foreign-controlled areas in Shang-through orders for their clients. hat and Tientsin, China will still H.K. Banks were wanted at $1330 have over 1,000,000 spindles, or with sales reported at $1400 and Unions were rather easier roughly 40 per cent..of her pre-war $1335.
at $440. Lands were obtainable strength.
at $36 with buyers at $351. Provi- dents were wanted at $4.70, China Lights (0) at $84 and Watsons at Electrics were obtainable at with buyers at $55. HK Details of the
work of the Docks bad buyers at $17.60 and Star Ferries could North-Eastera Housing
sellers at $18. Associa tion show that-up to December, be obtained at $664 and Hotels at 1938, a total of 5,833 houses had $5. Yaumati Ferries came in for Venezuelean been built since the formation of enquiry at $22. the Association and during 1938 Goldfields have announced an in- térim dividend of 3d. (less i/c tax) 3.933 houses were completed.
payable on June 22.
of of
+1
NORTH-EASTERN
HOUSING
A further 2,207 were in course construction at the end 1938. During 1938, 11 houses per day were completed.
The total of 7,840 houses erected on 62 different estates will entall a capital of £3,428,000 when cùm : pleted and will accommodate some 34,300 people.
LONDON METALS
EXCHANGE
London June 23 (Reuter).
COFFER
buyers Bellers
£
£
Standard, Cash 41-13/16 41-7/8
SUPPLY Standard. IN CITY OF BARODA
An important schente to augment the water supply system of the City of Baroda has recent ly been undertaken by the Baroda State Public Works Department. The scheme, which is expected to be completed in about 20 months, consista in duplicating the water main throughout the
Every description of Banking and "Exchange business transacted. Loans City. granted on approved securities,
works" of Baroda Current Accounts opened in Local The water Currency and Fixed Deposits re were constructed nearly 50 years ceived for one year or shorter ago, and were one of the exten- periods in Local and Foreign Cursive aeries of improvements intro rencies on terms which will be duced by the late Maharajah quoted on application,
SAFE DEPOSIT Boxra To Lat.
KAN TONG PO,
Chief Manager,
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT
OF CHINA AS AN
INTERNATIONAL. EXCHANGE
BANK
3 months 42-1/8 Electrolytic 47
TIN
42-3/16 48
Standard, Cash -229-3/4 Standard.
230
41
3 months 224-3/4
LEAD
225
Foreign.
Official Price 14-9/16 Foreign Oficial
$8 $55
41
Gold mining stocks, with the exception of San Mauricio, Itogons and Masbate which have register ed small advances, continue to drift downwards in the absence of buying support. The following dividends have been declared for the second quarter;-Beng. Consol 30 ctva.. Balatoes 20 ctva., San Mauricio 3 ctvs, United Paracale 1-ctva., I. X. L 2ctvs., Antamoks 1 ctvs. Big Wedge 1"ctus.. Atoks 2 ctvs., Ipo Gold ctvs.
CABLE AND WIRELESS
South African Communications Change Its Name
Canton Ins: $230 Union Ins; $440, HK. Fires, $185. H&B Hotels, $5.70. H.K. Lands, $95. Yaumati Ferries, $23.10. Dairy Farms (Old); $ią.
SALES HK. Bank, $1335- Providents, $470, Watsons, 33).
PHILIPPINE GOLD MINING QUOTATIONS
Atoks Antamok
Big Wedge..... Demonstration'
MONDAY, JUNE 26, 1939. --PAGE 13
PRESIDENT LINER
Sailings
FOR SAN FRANCISCO & LOS ANGELES. VIR SHANGHAI, KOBE, YOKOHAMA and HOKOLULU Salls June 30th at 12.01 AM.
July 14th at 12.01
88. "PRESIDENT CLEVELAND 8.8" PRESIDENT PIERCE = |'. 8.8. PRESIDENT COOLIDGE "" 8.S. “PRESIDENT TAFT" S.S." PRESIDENT CLEVELAND" SS. PRESIDENT PIERCE “ ·
AND FORTNIGHTLY.
July 29th at 10,00 KM Aug. 12th at 8.00 AM,
Aug. 26th at 8.00 AM. Sept. 9th at 400 P.M.
FOR NEW YORK & BOSTON
via SUEZ
SS. PRESIDENT GARFIELD " Sails July 8th at 19 Noor
S.S." PRESIDENT MONROE
July 20th at 19 Noor
AND FORTNIKHTLY THEREAFTER.
FOR
MANILA
H
July 8th at 12 Noo
July 21st at 200 FM.
8.8. * PRESIDENT PIERCE " SS. PRESIDENT GARFIELD' 8.S. PRESIDENT COOLIDGE" S.S. "PRESIDENT ADAMS"
Sails July 7th at 100 AM,
Aug. 4th at 12: Noon
#
AMERICAN PRESIDENT LINES
NOTE ROUND WORLD SERVICE"
TEL. 28171.
น
12, PEDDER ST.
THE
CHINA-SIAM
"HELLAS”
LINE.
HONG KONG-BANGKOK
leaving Hong Kong leaving Hong Kong leaving Hong Kong leaving Hong Kong KONG-SWATOW-AMOY
18th June via Swatow 5th July Tia Swatow 18th July via Swstow. 26th July ris Swatow
* HELIOS"
HIRAM 4.1.RELLAS"
HONG
ma. HAI LEB"
leaving Hong Kong “HAI HING" leaving Hong Kong
4th July seth July
"Accepting Passengers & Cargo for all the above metioned porta.
· HONG KONG-SINGAPORE-PENANG-BANGOON
Regular Express Service
Manbulao Consolidated Mine Operation
m. "HAI HING
leaving Hong Kong
30th June
m.. "HAI LEE?
leaving Hong Kong
10th July
North Camarines
27
lat Aug.
95
Syndicate Investment United Paricale
040 43
San Mauricio
PHILIPPINE GOLD MINING
QUOTATIONS Saturday, June 24, 1939.
Antamoks "Atoks
Demonstrations
"Big Wedge
Masbates Consol. Mine Operations
Genta vou
21
221
81
.21.
E
14
San Mauricio
95
United Paracales
43
Syndicate. Investment
040
North Camarines
37
Market Comment--Duli
HONGKONG
SHAREBROKERS”
ASSOCIATION
It is learned from Cape Town that the name of the Company operating as the "Overseas Com- munications of the Union of South Africa has now been chang-
Volume of Business Transacted. ed from Overseas Communications
on Saturday, June 24, 1939. ** of South Africa Ltd, to Cable and Wireless of South Africa, Ltd. Sun Co. (HK)
155 $2.50 3,000 Ps. 0.95 This step has been taken to in- San Mauricio dicate to the Puble the associa- |
14-11/18
3 months 14-3/4
SPELTER
14-13/18
tion of the South African Com- pany with the British
concern.
Ordinary.
Official Price 14 Ordinary, Official
"
14-3/16
3 months 14-1/4.14-5/16 Final Afternoon Transactions. -Tin, Standard, Cash £230 paid and sellers.
Tin, Standard, 3 months, £225
Gaekwar, who died on February value. 6, soon after he came of age and took over the Government of the State.
The Teeside Bridge & Engineer. Until lately the works have 108 Co of Middlesbrough, has
secured a contract for nearly £1, fully served their purpose, but, 000,000 worth of constructional owing to the recent growth of the City, the supply cannot, at steel, most of which is to be
supplied to Dorman Long Present, be delivered under ade for building aeroplane sheds in
various parts of Britain.
quate pressure.
Moreover, the recent increase in modern sanitary conveniences PAID-UP CAPITAL $40,000,000.00 also demands a greater supply of
Co
Cable and Wireless, Ltd., which CONSIGNEES' NOTICES with its other overseas associated companies.controls more than one- half of the World's submarine telegraph cable mileage and World wide system of wireless services....
This is further indication af
HAMBURG-AMERIKA LINIE
NOTICE TO CONSIGNEES.
"LEVERKUSEN"
how Cable and Wireless unifica-THEME tion is proceeding throughout the World with resultant benent to having arrived from Hamburg and users of overseas telegraph service. Ports of call, Consignees of Cargo ade hereby notified that their goods are being landed and placed at their rink into the Hong Kong & Kowloon Whart
LONDON GOLD
London, June 24 (Renter). Bar, Gold, Fine per oz, 14876. -Dollar Parity, 1/24, premium
water than was envisaged when MOVEMENT OF GOLD AND SILVER Owing to our numerous Branches the water works were arst built.
(BRANCHES ALL OVER CHINA)
in China and connections in the principal Commercial Centres of the World, we are able to extend to our Cliente special facilities for Domestic and, Foreign Banking and Exchange.
Head Office: SHANGHAI Hong Kong Branch:
4, QUEEN'S ROAD, C. South China Officer:
CANTON SWATOW
KONGMOON TOISHAN
SHIUCHOW KINGOHOW
NEW BIRMINGHAM
HOTEL
The Great Western Railway are to build a new hotel at Birming- ham Snow Hill Station, The bulld. ing will be a alx-floor steel framed structure fronting to Colmore Row, and will have reproof floors. and will be faced with Portland stope.<
We also handle the issue of Bonds It is understood that the new and other Public Funds of the Chinese Government both at Home building will have 148 single bedrooms and 29 double bedrooms and Abroad,
SHOU J. (HEN
Hans
each with its own private bathi room and lavatory
· London, Jimné 23 (Reuter).
Week ended Week ended June 14 June 21
4,806,000 9:371,000 4,228,000 8,587,000
GOLD
Total EXPORTS from the United Kingdom Including: To the United Blates
Siam
The Netherlands **
28,000
Total IMPORTS into the United Kingdom Including: "From" British Africa
1458,000
The Netherlands
836,000
British India
176,000:
240,000 25,000
29,000
24,000
Total EXPORTS. from the United Kingdom To the United Biates
109,000
281.000
87,000
STOLAL IMPOETS, into the, un
Bouthern Rhodesia,
Including Prom British
Godown Company's godowns at Kowloon, where delivery may be obtained as soon ins the goods are landed
Optional cargo will not be landed here, unless notice has been given 48. hours prior to vessels arrival, but carried on from port to part to the Anal of call to which the option
No claims will be admitted after the Goods have left the Godowns, and all goods remaining undelivered after the 26th June, 1938, will be subject to
rent
All broken chated, and damaged Goods are to be left in the Godown where they will be examined on 24th June, 1938, at 210 by our Burveyors Messra, Goddard and Douglas,
To comply with the General Bonded Warehouse Begulations, condğnees must have a Revenue Officer in attendance when damaged, antiable goods are eremmed.
All claims manat reach us | 25th July, 1939, or ther
recogn
HIlls of Ladi
the
m..HAI HING" leaving Hong Kong
Accepting cargo for all the above mentioned ports.
Excellent passenger accommodation available. For freight, pamage rates and all other information—Apply to i- THORESEN & CO., LTD.
Tal. 30137.
General Agenta.
Queen's Building.
THE BEN LINE STEAMERS, LTD.
S.S. "BENLAWERS"
Sailing for LONDON, ROTTERDAM, ANTWERP, HAMBURG and LEITH on or about the 9th July, 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...
Tel. 34165
York Building.
DES CONTRACTURLS MESSAGETIRES : MARFIEMES
CONSIGNEE NOTICE.
8.8. CHENONCEAUX
BRINGING CARGO TRY MARSEILLES Tia SAIGON, eta AREIVED HONG KONG on SATURDAY, THE SATH JUNE, 1989,
NORDDEUFSCHER LLOYD BREMEN.
THE Steamer
"ODER
having arrived from HAMBURG and Fert of cargo are hereby their · cargo is " being their risk into the godowns/ok Hong Kong & Kowloon Whar Godown Co., Ltd, Ko delivery can be obtained. NONSIGNEES are hereby informed All goods remaining undeli
that their goods with the exceptian the 20th June, 1990, will be subject of Opium, frendure and Valuables and to rental being landed & stored into the Godowns of the Hong Kong Kowloon What Godown Co., Ltd., Kowloon, when delivery may be obtained immed after landing
- All claims must be sent in to me or before the 5th July 1929, they will not be recognised.
Damaged Pickage will
by the Company Burveyor, Goddard & Douglas In the presenter the Consignees at 10:00 m day, the 30th June, 1939, Consignee mukt hav
JEBS
ong Kong, sich
Hong Kong, 19th June
"NO FIRE INSURANCE will be. effected by un any case
Damaged packages must godown for examination signees and the Company Messrs. Anderson & Fake or the 29th June, 1929,
Consigners must Offoer attendance wh
left in the the con