11
MUNGKONG DAILY PRESS
BANKS
HONGKONG & "SHANGHAI THE CHARTERED BANK OF
BANKING CORPORATION
Authorised Capital... $50,000,000 Issued & Fully Paid-Up $20,000,000 Reserve Funds:
E 8,500,000 Sterling H.K. Currency Reservs $10,000,000 Reserve Liability of
Proprietora
20,000,000
Head Office:-HONG KONG
Board of Directors:
Chairman.
A. L Shields, Esq.,
W. H. Lock, Esq.
"
Hon. Mr. J, K. Bounfeld,
A. H. Compton, Esq.,
Deputy Chairman,
Hon. Mr. S. H. Dodwell,
D. F. Landale, Esq.,
G. Miskin, Esq.,
K. S. Morrison, Esq.,
Hon. Mr. T. E. Pearce,
H. V. Wilkinson, E.
Sir Vandeleur M. Grayburn,
INDIA, AUSTRALIA
AND CHINA Incorporated by Royal Charter, 1853
Paid-Up Capital Reserve Fund Reserve Liability of Pro-,
prietors
SHARE MARKET
REVIEW
HONGKONG SHAREBROKERS' -
ASSOCIATION
There has been little change in the market during the week. Apart from isolated sales, which in some
xive way slightly, business has instances have caused prices to £3,000,000 been very restricted and trading £3,000,000 conditions have continued difficult.
£3,000,000 HEAD OFFICE: LONDON: 38, Bishopsgata E.0.2. Sub-Agencies In London: 117/12 Leadenhall Street, E.C.3. West End Branch:
14/16, Cookspur Street; B.W.I. Manchester' Branch:
59, Mosley Street, Manchester, 2,
ALOR STAR" AMRITSAR
BANGKOK
BATAVIA
BOMBAY
CALOUTTA KLANG
AGENCIES: HOM
AGENCIES AND BRANCHES:
HARBIN PENANG HONG CONG BANGOON ILOILO
BAIGON LFOX
SEBENFAN KARACHI SHANGHAI
SINGAPORE SITIAWAN BOURABAYA TAIPING TIENTSIN
CLITE BEST KUALAN FAILIK PLACE
CANTON
DAWNPORT
Chief Manager.
Branches: Ipoh
Редаль Rangoon
BU
COLOMBO
Batavia
Kobe
Saigon
DELHI
Bombay
Kowloon
San
HAIPHONG
Calcutta
Knala
Amoy
Bangkok Johore
Francisco HAMBURG
HANKOW Lumpur Shanghai
Canton Chefoo London Singapore Colombo
Lyons
Scurabaya Dairen Malacon Sungei Foochow Manila Patani
Swatow Haiphong Muar Hamburg (Jchore) Tientsip Hankow Mukden Tokyo Harbin New York Tsingtao
Yokohama
Hongkey Peiping
Пoiln"..
CURRENT ACCOUNTS opened in
LUMPUR
KUCHING
MADRAS
MANILA
MEDAN
NEW YORK PEIPING
TONGKIR
(Bhuket) TSINGTAO YOKOHAMA
-
FINANCE
Chinese Industries' Losses In
In Shanghai
Kincheng Bank Issues Exhaustive Report
The losses of Chinese txc- CHUNGKING, July 7 (Central) --- torles a Shanghai and its immediate vicinity from the com- August 13, 1937 until mencement of hostilities in that eity on March, 1939, totaled $155,764,000, according to a report of the Kincheng Banking Corporation, a Chinese bank in Shanghai.
There has been a steady demand for HK Banks at $1320 to $1330, but shares have been difficult to obtain. Lands have also comte, In for sustained enquiry at $358.
Of the total sum $85,484,000 re- removed by the Japanese. To-day. Sales have been reported at this
a with the exception of one now figure early in the week, but later presents material damage as no shares were obtainable, Trams
direct result of the three-month operating under a foreign hag, ali after changing hands at $16.65 military operations, while the re- have been seized by the Japanese were wanted at $15.55 without remaining $70,280,000 represents the military and the Japanese shipping sulting
bizsiness. Electrics nggregate capital of 47 native indus-] companies. changed hands at $54. Wharvestrial plants seized by the Japan- at $108 and Cements at $12.50. ese. Watsons were wanted at $8.20 with sales at 181 Hotels were offering
"
Shanghai in future as an indus- trial centre is very gloomy, says the
Other Fadustries There were in the same city fac- Chinese than 210
more
x $5.50 with buyers at $5.4.document, since the general declinatories large and small, manufac
There has been a fair demand for Providents at $4.80. China Lights (o) had buyers at $8.20 with sales at 38.25 Dairy Farms (6) could be obtained at $211 with havers at $21.
ין
Gold mining stocks after display. ing some evidence of renewed activity towards the end of the week appear to have once again (Peking)"
lapsed into a state of lethargy. FOREIGN EXCHANGE and General San Mauricio after gaining 5 ctvs to 92 ctvs closed at 90 ctvs. Ben- Banking Business transacted.
CURRENT ACCOUNTS opened and guet Consolidated improved 50 FIXED DEPOSITS received for One ctvs to Ps 10.50 Antamoks gaired Year or shorter periods in Local or 2 ctvs to 181 ctvs. For the most Other Currencies at rates which part gains have been registered will be quoted on application.
from ctv to 1 ctv. Market closed
SAVINGS ACCOUNTS also opened in quiet. Local Currency and Sterling with interest allowed at rates obtainable on application.
EXCHANGE FUND POSITION Reference is invited to the state-
Exchange Atao up to date SATE DEPOSIT terms which may be ascertained atment regarding the
any of the Agencies and Branches. Fund published on December 31: 1938, which indicated the position R. A. CAMIDGE,
During the Manager: at June 30, 1938.
that date six months following the Fund purchased a small quan- tity of Sliver Subsidiary Coins to be refined and marketed...
LOCAL CURRENCY and FiXED DEPOSITS
The Bank's Head Office in London received for one year or shorter! periods in Local and other Cur-jundertakes Executor and Trustee rencies on terms which will be business, and claims recovary of British Income Tax overpaid, on quoted on application.
Boxes in various sizes To Let
Hong Kong, th June, 1939,
·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 HONGKONG & SHANGHAI BANKING CORPORATION.
V. M. GRAYBURN,
Chief Manager. Hong Kong, 4th Feb., 1939.
BANK OF EAST ASIA, LIMITED
บ
Authorised: Capital......310,000,000.00 Faid-Up Capital
Reserve and Undivided
Profita
5,598,800,00
2,883,932.01
Head Office:-HONG KONG
No. 10 Des Voeux Road, Central.
I
Board of Directors:
Bir Shonson Chow, Chairman
Li Koon Chun, Esq. Li Lan Sang, Eng.
Wong Chu Son, Esq. P. 5. Kwok. Esq. Wong In Tong, Esq. Kan Ying Po, sg. Chan Ching Shek, Esq. Fung Ping Wah Esq. Kan Tong Po, Esq., Chief Manager. Li The Fong, Esq., Manager,
Assos Batavia Bombay
Branches and Agencies:
Haiphong
Hankow Homolala Kobe
Kowloon
London
Manila
Bingapors Hangoon Seurabaya SASTOLL Bestow Malbanne Ben Fran«, Sydney
co Teatin Bandila Vancouver Semarang Shargha
Nagsanka"
New York Paris
Priping
Every description of Banking and Exchange business transacted. Losus granted on approved securities
Current Accounts opened in Local Currency and Fixed Deposits re ceived for one year or shorter" periods in Local and Foreign Cur rencies terms which will be
on
quoted on application.
SAFE DEPOSIT Bozza To LET.
KAN TONG PO,
Chief Manager.
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE
1
BANK PAID-UP CAPITAL $40,000,000.00 (BRANDRES ALL OVER CHINA) - Owing to our numerous Branches in Chine 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'E ROAD, C. South China Officences
CANTON
SWATOW SHIUCHOW
KONGMOON TOISHAN KINGCHOW
We also handle the issue of Bonds and other Public Funds of the Chinese Government both at Home and Abroad
THE CHASE BANK
15, QUEEN'S ROAD, CENTRAL
HEAD OFFICE:
18, 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 Bank is entirely owned by THE CHASE NATIONAL BANK, NEW YORK, with Resources over U.S.$2,500,000,000,-
D. M. BIGGAR,
Second Vice Prei
H. K. STOCK EXCHANGE
•
Quiet conditions prevailed during the morning's short session and a small dealings were only m scale:
BUYERS H.K. Bank, $1330. Union Ins; $410. Providents, $460. HK Lands, $351. HK. Lands, 4 Debentures, par. HK. Tramways, $16). China Lights (Old), $8.15. HK. Electrics, $54.
Cements, $12.80.
Watsons, $8.20, Wing On (H.K.), $41. · HK, Gort. 4% Loan 4% přem. H.K. Govt. 33 Loan par.
SELLEKS H.K. Bank $1350. Union Ins: $425, Humphreys, $81.
SALEB
HK. Tramways, $15.60.
PHILIPPINE MINING
QUOTATIONS
Big Wedge
Consolidated Mines ......
Centavos. 181 0025
Itogon Mining
224
Masbate Consolidated.
10-
Mine Operation
121
Paracale Guramaus
15-
89
San Mauricio
United Paracale ................................. 39
It was not found necessary for the Fund to operate in the local during the exchange market period now reviewed.
On December 31, 1938," the Cer- tincates of Indebtedness outstand
$191,134,887 ing which is equivalent to £11,945,-
amounted to
turing dry-cells, electric lamps. in production capacity is so great that it will take years, possible de-ons, fans, radio sets, torches and of small plants have resumed cades, before the city can regain generators: To-day only a number. Its pre-war statua.
operations, while the larger ones, being located in the Japanese-con- trolled areas, remain closed,
"
Industries Sized Before the war there were, out- side the two foreign concessions, one electricity and water company,
two water
090,000.
To-day
Of the 22 Chinese can-making factories, only six are operating at works and five power present. Chinese enamel-ware fac- plants, all Chinese-owned, Six of tories in Shanghai fared no better. Nantso and Pootung, amounting to $1,000,000. these eight concerns operated in Altogether they suffered losses Chapel, with an aggregate capital of $20.- only four of them are workLIE.
The war losses of the Chinese After the withdrawal of Chinese chemical industry in Shanghat forces from Shanghai in Novem-were also heavy, approximating. ber, 1937. all eight fell into Japan- $6,000,000. Before the hostilities ese hands. The Ave Chinese bus there were 120 chinese chemical companies whose fleets used to ply works producing tollet, articles, the highways linking Shanghai medicine, alcohol and other sup with the hinterland were similarly piles. To-day only a small fraction "taken over by Japanese interests of these factories have resumed
Thelf total capital was $1,225,000.
operation, while two of those within the sphere of Japanese Prior to the hostilitise, there were military occupation have
placed under the 31 Chinese cotton mills in Shang-seized and hal possessing 1,114,408 spindles management of Japanese firms. Twelve of them, capitalized at a Many others are still closed. total of $22,000,000, have been "Not mentioning those with seized by the Japanese. To-day capital or less than $50,000, there there are in operation in Shanghai were 27 large Chinese printing miy 440,217 Chinese spindles, of establishments in Shanghal before which 64,360 are newly installed. the war. To-day, only 14 of these There has been a decline of 59.20 have resumed business. percent in the pre-war number of Chinese spindles.
Million Spindles Loat
Flour Mills Twelve Chinese flour mills oper- ated in Shanghai before the war. The three-month hostilities infict
six
meen
WEEKLY. RUBBER
REPORT
REYNOLDS AND GIBSON
(Per Payne & Co.)
Liverpool, June 27. London--Our market has kept tricts, are still locked out. One of very steady all week, the impend- them, capitalized at $300,000, has ing barter deal contributing to been seized of the Japanese.
930 at 1s. 3d, the middle marketed on them a damage of more rate on that day; the total assets than $800,000. To-day only of the Fund amounted to £13. are operating. Five others, being 035,370 of which 73.00 per cent.located in Japanese-occupied "dis- was held in gilt edged sterling securities, 26.85 per cent. on de posit in London at call or short notice and .09 per cent, in silver. BANK NOTES IN CIRCULATION
Returns of the Average Amount of Bank Notes in Circulation in Hongkong, "during the month ended June 30, 1939, as certified by the respective the Managers of Banks
BANKS.
AVERAGE -AMOUNT.
Chartered Bank of
India, Australia and China...... Hongkong
and
Shanghai Bank- Ing Corporation Mercantile Bank of India, Limited
Total
Cigarette Factories
quietness.
there
exists
Nevertheless, There were altogether 31 Chinese steady demand on cll. terms, but tobacco companies in Shanghai be offers remain scarce, this being at- fore the hostilities. They had a tributed to the paucity of supplies total capital of $18,000,000, and 348 in producing countries.
Now The Malayan Information agency cigarette-rolling machines.
published the following only nineteen of them are working has with only 85 cigarette-rolling ma-monthly up-country agures:-- chines in operation. One tobacco factory has been seized by the! Japanese.
Cement
Production-Malaya Estates of 100 acres and over:
May Apr.
tons tons 1,357 1,262
9,487 8.078
The only Chinese cement works
Straits Settlements 23.060,472 in Shanghal, the Shanghai Part-Fed. Malay Stater....
land Cement Company at Lung Unfed. Malay States 6,935 6,359 hwa, was spared from destruction 211,342.228 during the hostilities but has since
been seized by the Japanese.
4,186,223
238,583,923
Silk Filatures
WAR LOAN CONVERSION
17,789 15,699
Stocks
Held by Dealers:
In pre-war Shanghai 'there were 44 Chinese silk flatures equipped with 10,323 reeling machines, The following statement of the capable of producing 50,000 pleuis Fed. Malay States ... securities lodged with the Crown of raw silk a year. As most of these Unfed. Malay States 2,920 3.401 Agents by the Mercantile Bank Alatures were in Chapel where their the fighting first broke out, the of India, Limited, against notes in circulation, is published damage to the industry as a whole for general information under was extremely severe," amounting Section 5 of the Mercantile Bank to more than $20,000,000. Thirty of the plants were completely destroy- Note Issue Ordinance, 1911, (Or
ed, while three others were partly dinance No. 65 of 1911)-
Security: 41% Conversion War demolished,
2340.- Loan 1940/1944; Amount, 000; Latest market price, 1024-1033.
representing
the The figure average opening selling rate for the month et June, 1939, of the Hongkong and Shanghai Banking Corporation for demand drafts on London is settled at 14.73.
HONGKONG SHAREBROKERS'
ASSOCIATION
VOLUME OF BUSINESS TRANSACTED FOR WEEK ENDING
R.K. Banks
July 7, 1939
20 $1320.00
Trams
700
16.35
to $1325,00 18.65
Lands
100
35.50
Cements
850
12,50
12.50
Star Ferries
100
85.25
Electrics
500"
54.50
Wharves
100
108,00
China Lights (0)
700
8.25
B00
6.25
18000 ES
19
Watsons Antamaks
BHOU JOHEN Itogonis
United Paracale,
1000 PB 22% 10000 Pa
onet
MONDAY, JULY 10, 1939-PAGE 13
PRESIDENT LINER
Sailings
FOR SAN FRANCISCO & LOS ANGELES vis SHANGHAI, KORN, YOKOHAMA and HONOLULU 9.S.PRESIDENT FIERCETM
S.S." PRESIDENT COOLIDGE * AS.." PRESIDENT TAFT"
8.8. ** PRESIDENT CLEVELAND" 8.8. PRESIDENT PIERCE" 3.S." PRESIDENT: COOLIDGE”
Sails July 14th at 1201 AM.
July 28th at 1000 4.M.
Ang 12th at 800 AM
Aug, 18th at 8.00 AM. Sept. 9th at
P.M.
·Sept. 23rd at 9.00 AM.
AND FORTNIKESTLY THEREAFTER
FOR NEW YORK & BOSTON via SUES
8.8. "PRESIDENT MONROE" S.S." PRESIDENT, ADAMS"
S.S.
$8 S.S.
Sails July 20th at 12 Noom ang. 4th at 19 Noox
AND FORTNIGHTLY THEREAFTER
FOR MANILA
PRESIDENT COOLIDGE? "PRESIDENT ADAMS" PRESIDENT TAFT"
AS." PRESIDENT CLEVELAND”
Sails July 22nd at 1.00 A.M.
T
Aug. 4th at 19 NOON Aug. 5th at 5.00 A.M. Aug: 19th at 9.00 AM.
AMERICAN PRESIDENT LINES
"ROUND - WORLD SERVICE"
12, PEDDER ST
THE
CHINA-SIAM
TEL. 28171.
LINE.
HONG KONG-BANGKOK #1. HIRAMTM "leaving Hong Kong 18th July via Swatow BE "HELLAS" leaving Hong Kong 36th July via Swatow HONG KONG-SWATOW-AMOY 0.3 “HẢI HÀNG”. leaving Hong Kong Accepting Passengers & Cargo for all the above metioned porta. HONG KONG-SINGAPORE -PENANG-RANGOON Regular Express Service
1
28th July
Dis. "HAI HING" leaving Hong Kong “st Aug. Accepting cargo for all the above mentioned ports.
Excellent passenger accommodation available.
For freight, passage rates and all other information—Apply 49
THORESEN & CO., LTD.
Queen's Building. General Agents..
Tel. 30237.
MESSAGIERIES' MARITINES
London last Friday evening, the CONSIGNEES' NOTICES articles governing the arrange ments for the exchange of cotton and rubber being fully reported SERVICES CONTRACTUELA DES elsewhere. The agreement must, of course, receive the necessary legislative sanction and much de- tall. till have to be considered by the IRR.C. before the scheme begins to function, but as the articles aigned allow plenty of elasticity-although making strong provision for dealing with the re- serve stocks thus secured there should be no serious interference with the normal working of the markets for several years.As.
Pending further detalls, we do not look for much change from present prices.
Movements of Rubber in London and Liverpool for week ending June 24, 1989.
CONSIGNEE NOTICE.
8.8. FELIX BOU-BEL"
17'A/39.
BRINGING CARGO FROM. MARSEILLES via SAIGON, etc.
ÁR HONG KONG ON WEDNESDAY, THE 57H JULY, 1930
NONSIGNEES are hereby informed
at their goods with the excepti
of Optum, Tressure and Valpakla, k being landed & stored into the Godow of the Hong Kong, Bowbon Whis & Godown Co., Inc. Kowloon, wheele delivery may be obtained immediately after landing.
All claims must be sent in to or before the 16th Joly, they will not be recognized:
Damaged Packages will be exami by the Company's Surreyor, Kaman Goddard & Douglas in the prescion of the Consignees at 10.00 am, on Tuen, day, the 11th July, 1939.
London Landed, 555 tons; De- May. Apr. livered, 946 tons; Stock, 42,598 tops tons tons; Last year, 59,778 tons. Liverpool: 4,200 5,309
Landed 189 tons; Delivered. 855; Stack, 20,775 tons; Last year, 31,307.
New York-This market has shown very little movement during
Consignees must have » Bevens the past week although there has been a fair trade demand. Ac-Officer in atindanos when any data bie cording to cable advices from goods are examined by the Company
No Fire inscrsace will be effected by America, there seems to be a be Burrayora lief in some quarters that the conus in any case whatever. summation of the barter plan will lead to a strengthening of near 'déliveries.
7,120 8.710
Production-Malaya Estates under 100 acres.
May Apr tons tons 705 728 2,843 5,867
3,884 5,403
,,་,*
7.232 11.998
Stocks
Estates of 100 acres and over?
May Apr.
tous tons
3,374 3,441
Straits Settlements At present there are 28 Chinese Fed. Malay States all latures operating in Shang Unted. Malay States hai, including several new established since the war. The total number of recling machines is 4.988, which is only 43 per cent of what the Chinese flatures had before the hostilities,
The 427 Chinese silk weaving plants in Bhanghal before August
13, 1937, had approximately 7,000 Straits Bettlements looms, producing: 160,000 bolts of Fed. Malay States
25,187 25,261.
-44,548 44,675
silk every year. Only 195 of these Unfed Malay States 15,985 15,973 plants have resumed operation. In addition to 82 new ones, there are to-day 277 Chinese silk weaving factories in Shanghai, with 4,318 looms, which represent only 61,60 per cent of the pre-war number.
Shipbuilding
Some interesting comments or the present, altuation were made by the Chairman at the annual- meeting of Allied Sumatra Planta- tions, Ltd last Wednesday. These Chinese ship-building were fully reported in the press, The 180 companies in Shanghai which did and are informative in giving the a thriving business before the war standpoint of producers prior to sustained a loss of more than $16, the dermite inauguration of the 000,000. Bituated on both sides of barter scheme. However, despite the Whangpoo River, many were opposition from many quarters, shelled or bounded during the hos the agreement between the goy- tilities
The machinry that reernments of the United Kingdom mained intact was systematically and the BSA was duly signed in
·B. OHL
Agent. Hong Kong, 5th July, 1959.
MOVEMENT OF GOLD AND SILVER
GOLD
Total EXPORTS from the United Kingdom Including: To the United States
gisin
The Netherlands
France
Total IMPORTS Into the United Kingdom Including: From British Af
Francer British Indi Bouthern Rhodesia Pert
Total EXPORTS from the Unit Including: To the United States
Total TIPO
Including:
ndon, July 1- (Blastber)
Week ended Week ended
June 28
dom
18.000
July 3