HONGKONG DAILY PRESS
HONGKONG &
BANKS
SHANGHAI THE CHARTERED BANK OF BANKING CORPORATION 'INDIA, AUSTRALIA
AND CHINA
£6,300,000
H.K. Currency Reserve $10,000,000 Reserve Liability of
Proprietors
$20,000,000
Head Office:-EONG KONG
H. K. STOCK EXCHANGE
Three interim dividends for the current year's working have been announced this week:—HF, “Elec- trics $1.00, Star Ferries $2.00 both the same as last year and Trams 50 cts, an increase of 5 cts. This
Another bullish factor was
·FINANCE
YUNNAN'S FIVE-YEAR PLAN FOR RECONSTRUCTION
',''
Already launched and well under way is the Five Year Reconstruction Plan for Yunnan Province which aims to raise the annual value of production to a level of $100,000.000, according to Mr. Chàng Si-ling, recon . struction commissioner of the province.
Authorised Capital... 800,000,000 Incorporated by Royal Charter, 1853 latter interim indicates an increase Issued & Fully. Paid-Up #20,000,000
The leading reconstruction in passenger trafic, but neither its project at present is the Paid-Up Capital Beserve Funds;
£3,000,000 £3,000,000 declaration nor the other two have stimulation of silk cultivation Sterling
Reserve Fund...... Reserve Liability of Pro-
made any impression on the mar-in Yunnan. It is hoped that £3,000,000 ket prictors
HE the Governor emphatically in five years Yunnan's silk HEAD OFFICE: LONDON:
stated in the legislative Courich production will be raised to 38, Bishopsgats E.C.2. Sub-Agencies In London:"* yesterday afternoon that in site an annual output valued at 117/19, Leadenhall Street, E.0.1 of the Anglo-Japanese talks m $40,000,000.
West End Branch;
Tokyo there had been no change in the policy of the Etish Govern "14/16, Cookspur Street, B.W.1.
ment towards China. Whilst this | pronouncement was warmly wel- comed in the Colony, so far as the market is concerned, it has falleri on deaf ears.
Board of Directors:
A. L. Shields, Esq.
W. H. Lock, Esqu
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.,
Bon. Mr. T. E. Pearce,
H. V. Wilkinson, Esq
Sir Vandelear M, Grayburn,
Manchester Branch: 52, Mosley Street, Manchester, 2.
AGENCIES AND BRANCHES:
PINANG ALOR STAX KARBIK AMRITSAR " TONG KONG EINGOON
ILOILO IPOR
BANGKOK
ΒΑΤΑΝΙΑ
DOMBAY
CAZAUTTA
AGENCIES: KORE
CLE SPARET TUALA FAIRLIN PLACE
CANTON
CAWNPORE
U
MANILA.
SAIGON
KARACHI
XLANG
SEREMBAN SHANGHAI SINGAPORE SITIAWAN
HOURABAYA
Chief Manager.
LUMPUR
TAIPING
IUCHING
TIENTSIN
Branches:
MADRAS
TONGKAH
Amoy
Ipoh
Bangkok
Johore
Penang Rangoon
(Bhuket)
MIDAN
THINGTAO
Batavia-
Kobe
Saigon
HAIPHONG
Bombay
Kowloon
Sau
.
HAMBURG
NEW YORK PEIPING
TOKOHAMA
Calcutta
Kuala
Francisco
Canton
Lumpar
Shanghai
Chetoo
London Singapore
Colombo
Lyons
Sourabaya
Foochow Manila
Patani
Haiphong Auar
Swatow
Dairen Malacca Sungei
Hamburg (Johore) Tientsip
Bankow Mukden Tokyo
Harbin
Hongke Iloile
New York Peiping
Tsingtao Yokohama
COLOMBO
DELHI
HANKOW
(Peking)
FORION EXCHANGE and General Banking Business transacted.
CUREANT 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 Sterling with interest allowed at rates obtainable an application.
CURRENT ACCOUNTS opened in LOCAL CUBRENGY and FIXED DEPOSITS The Bank's Head Office in London received for one year or shorter undertakes Executor and Trustee periods in Local and other Cur-business, and claims recovery of rencies on terms which will be British Income Tax overpaid, on quoted on application.
terms which may be ascertained at Atso up to date SAFE DEPOSIT any of the Agencies and Branches. Box in various sizes Te LET
R. A. CAMIDGE, Hong Kong, 5th June, 1900,
HONGKONG® SAVINGS
BANK
Manager.
THE CHASE BANK
The Business of the above Bank 15. QUEEN'S ROAD, CENTRAL
is conducted by the HONGKONG
& SHANGHAI BANKING COR
PORATION. Rules may be obtain-
ed on application.
4
For the HONGKONG & SHANGHAI BANKING CORPORATION.
V. M. GRAYBURN,
Chief Manager. Hong Kong, 25th Feb., 1939.
BANK OF EAST ASIA, LIMITED
Authorised Capital......$10,000,000.00.
Paid-Up Capital
Reserve and Undivided
Profits
5,599,600.00
2,883,932.01
Head Office:-HONG KONG No. 10 Des Voeux Road, Central.
Board of Directors:-
Sir Blouson Chow, Chairman
Li Koon' Chun, Esq. Li Lan Sany, Esq. P. K. Kwok, Esq. Wong Chu Sou, Esq.
Weng Tan Tong, Esq. Kan Ying Fo, Esq.
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 CHARE NATIONAL BANK, New York, with Resources Over U.S.$2,500,000,000.
DAM BIGGAR,
Second Vice Pres
The market this week has been the dullest coupled with the smallest turnover for 'many weeks past.
BUSINESS DONE DURING THE WEEK
$1330, $1325.
..
Scientiae methods of sericulture
lift will be introduced to
the time annual production, by the of the completion of the plan, to 10,000 piculs annually.
་་
to
At present the province exports
SIJE "only small quantities of
the United States, but it is ex- pected that the outgoing, volume will reach a total of 5,000 quin- tals within two years.
Anglo- U.S. Barter Deal
TRADE INTERESTS CONSULTED
LONDON, July 28 (Reuter)— The question of the Anglo- American Barter · Agreement was raised in the House of Commons yesterday by Mr. Temple Morris, who asked what precise steps would be taken to carry out the barter deal?
Production Yields
Mr. Oliver Stanley, President of Although each year the pro- the Board of Trade, referred to his Hongkong Banks, $1330, $1320, duction of foodstuffs in
Yungan
reply of July 4 and added that the reaches impressive levels (rice: Government had not yet been 20.000.000 quintais a year, pro- noufed that legislation had been duced on 1.700,000 acres in the passed
United empowering the Southwest; wheat: 600,000 quin- States Government to acquire cot-
ton,
Union Ins., $395, $393. $382), Wharves, $103).
Providents, $4.40, $4.30. Lards, $35.
Tramways, $16.55, $18). Electrics, $53.90. Watsons, $7.90. Wing On (HK), $43 Ewo Cottons, $19. Govt. 34% Loan Par
CHANGES (4 P.M.) CLOSING
QUOTATIONS
BUYERS
Providents, $14.30. Landa, $341.
Lands, 4% Debentures, Par. Canton Ices, $1. Cements, $124.
|
Wing On (H.K.), $41. "Govt. 4% Loan 1041.
Govt. 31% Loan P91,-
SELLERS Telephones (0), $224.
SALED
Hongkong Banks' $1320. Providents, $4.30. · Landı, $344.
Atoks
PHILIPPINE MINING
4
QUOTATIONS Friday, July 28, 1939.
Centavos.
Antamoks
Bagulo Gold
014
tals, produced on 900,000 acres in the northeast), the present yield per acre in the province is rather low.
In the meanwhile, considerable progress had been made in the consultations of the trade interests The production goal for rice is concerned in working out the ar- set at the coastal standard of rangements for implementing the
acre of
4,200 cattles from each rice. feld.
Attention is also being given
agreement
Cash Sales WASHINGTON, July, 28 (Renter) Byrnes announced im-yesterday that negotiations had cat-been completed for the sale of
to the production and improve- ment of wheat-for Yunnan, due-Senator In part to the lack of mills, ports no less than 10,000,000 ties of flour annually.
Mineral Resources
In the development of the pro- vince's, rich mineral resources, the Govern- provincial, and National ments are co-operating. Already in operation under joint control äre a $3,000,000 copper smelting com-
pany, a $20.000.000 iron and steel works, and others.
Provincial
about 175,000. bales of cotton to France and Switzerland,
The sale will be made for cash at a minimum price equal to the world's price minus the Government's carrying charges for eighteen months. Thus the
lilmum price is some $6 per bale below the world market price.
The buyers must agree to store the cotton for five years as a re- serve supply, except in the case of war..
.
In addition, the Finance Bureau has a large in dustrial stake. of its own: A $8,000,000 tin-smelting company, a $1,500,000 hydraulic power plant, Senator Byrnes said that nego-
under $3,000,000 salt manufacturing tiations were
way with plant, and the $4,000,000 Yunnan another country for a similar sale. Mining Administration.
Senator Byrnes introduced a bill The Ministry of Communications authorising the Cotton Control is working furiously to complete Committee to sell agricultural com- the Yunnan-Burma and the Yun-modities abroad for reserve storage. nan-Szechwan railways. which
SOUTH AMERICA
will give the Yangtze valley JAPAN'S TRADE WITH 002 rail link with the Indian Ocean.
In the realization of these many projects, the Government would welcome foreign and overseas Chinese capital Recently several investigating commissions sent Chinese by enterprising overseas have come to the province to probe its potentialities (CLC.)
น
22)
254
23
Batong Buhay
Benguet Consol
11.00
Big Wedge
22.
Coco Grove
28
Consol. Mines
Demonstrations
101
I. X. L
45
Ipo Gold ...
17;
Itogons
25)
Manbulao Consol.
07
Masbate Consol.
124
Mine Operations
13
North Camarines
28
Paracale Gumaus
16
San Mauricio
93
Surigao Consci
24
Suyoc Consol.
151
Sundicate Investment
032
23.000,008
United Paracales
45
£1,800,000
£1,000,000
Mindanao Motherlode
081
£1,272,770
HONGKONG
THE MERCANTILE BANK OF INDIA, LIMITED
Head Cmcos-15, Gracechurch Street, London, EC.3
Authorised Capital
Chan Ching Sher, Esq. Fang Ping Wah Eagatarbed Capital
Kan Tong Fo, Esq., Chief Manager.
Li Tae Fong, Esq., Menager, -
Branches and Agències :--
Amoy
Balvi Bomber
Ouatta Haiphong Bankow Hosolait Robe
Kowloom Ponant Hingapors
Lowton Manila Melbourne Nagunka
San Fran. Bydneg
Prid-op · Capital .. Reserve Fund and Rest,
BANKERS:
The Bank of England and Midland
"
Bank..Ltd. BRANCHES:
ipob Jafisa Kuartan Handy Karachi
Kuala Trengganu
Etangoon
Balros
Sourabaya Bwatow
Fangkok
pie Tintain
Bombay
Jadra
New Tork Pari Pelping
Bexitia VANCOUTET
Bemarasm
Calentia Colombo
New York
Shangha
Delhi Qalle Hongkong
Xota Bharu
Kuala Liple
Every description of Banking and Exchange businese transacted." Loans granted on approved securities.
Current Accounts opened in Local Currency and Fixed Deposits to ceived for one year or shorter periods in Local and Foreign Cur rencies on terms which will be quoted on application.
SAFE DEPOSIT BOXES TO LIT.
KAN TONG PO,
Chief Manager":
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT
OF CHINA AS AN INTERNATIONAL EXCHANGE
BANK PAID-UP CAPITÁL $40,000,000.00 (BRANCHES ALL OVER CHINA) Owing to our numerous Branches in China 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.
Bowh
Kala Lumpur
Pening
Rangoon..
Shangha
Sipsia
SHAREBROKERS'
ASSOCIATION
Volume of Business Transacted on Friday, July, 28, 1939.
10 $124.00 2,000 281 ctvs. 20,000 28 ctva. 5,000 251 ctvs. 5,000 11 ctva.
K. 8. Hong 3lorapore
Itogons
HONG KONG BRANCH: Every description of Banking and Exchange Itogons
Antamoks Demonstrations
businem tranched.
Traveller Cheques inqued
.
TRUSTEE AND EXECUTORSHIP
UNDERTAKER. " CURRENT ACCOUNTS opened in Local Car rey and FIXED DEPOSITA red 18 Local Currency, STERLING & U. 8. DOLLARS de Lures that may be ascertained on application.
D. BENSON,
Manager
LONDON GOLD { London, July 27 (Reuter). Bar Gold, Fine per oz, 148/8. Dollar Parity. Id. premium,
WEEKLY RETURNS AND REPORTS
BANK OF ENGLAND
Public Deposits Other Deposits:---
Bankers Other Accounts Total
U.S. DRIVE ON OIL MONOPOLIES
TOKYO, July 28 (Renter)-JB- pan's exports to South American countries during the first half of this year was 35 per cent below the same period last year, accord- ing to the Ministry of Finance figures.
Imports from South America rose by. 56 per cent.
CHICAGO, July 28 (Reuter-SCHEME FOR WAR The Circuit Court of Appeals re- RISKS INSURANCE
versed the conviction on sixteen
oll companies and five individuals
LONDON. July 28 (Reuter)
who were tried at Madison, The personnel of the Govern- Wisconsin, on charges of violating ment Committee to examine the the anti-Trust Law by fixing the practicability of the scheme for The War Risks Insurance will be Vis- prices in the all industry. court has ordered a re-trial. count Weir, Sir Earnest Harrey, The oil industry is one of the Sir Walter Benton, Sir William Federal Government's first objec- Clark Lees and Bir Alan tives in its sweeping drive against Smith, alleged monopolies:
LONDON METALS
EXCHANGE "London, July 21 (Reuter).
COPPER
3 months 225-1/8
LEAD
230
225-1/4
Foreign,
Omelal Price 14-13/16 14-7/8 Foreign, Official
3 months 14-13/16 14-7/8
SPELTER
buyers sellers
£ 43-3/16 Btandard, Cash 43-1/16 Standard,
3 months 43-3/8 43-7/16 Electrolytic ..... 49
49-1/27 TIN Standard, Cash 229-7/8 Standard,
London, July 27 (Reuter).
July 13
July 20
*28,380
20,010
95,500
$1,280
34,820
36,740
130,140
128,120
Government Securities
108,050
108,490
Discounts and Advances
9.120
8,050
*Securities
24,740
71,500
83,860
29,500
Notes and Coins
30,440
38,140
Total Bullion
247,080
2477.040
507,640
519,900
Hatio of Reserve to Liabilities
24.59%
Price of Gold at Which Holdings are valued
14/8
23.44%
148/6.
New York, July, 27 (Reuter).
July 2000 July 27.
(600's omitted)
Bills Bought
1,000
U.S. Securities held
2,518,000
Federal Reserve Ratio
85.93%
Federal Reserve Credit Outstanding.
2,587,000
1,000 2,488,000
2013,000
Monetary Gold Stock
16,131,000
16,227,000
anager.
Industrial Advance
∙12,1557,000
12,579,000
Head Office: SHANGHAT Hong Kong Branch:
4, QUEEN'S ROAD, C. South China Ofices:
CANTON
SWATOW SHIUCHOW
KONGMOON TOISHAN KINGCHOW
We also handle the imue of Bonds and other Public Funds of the Chinese Government both at Home and Abroad.
SHOU
U J. OHEN,
Other Securities:---
Total
Notes in circulation
FEDERAL RESERVE SYSTEM
Ordinary,
Official Price 14-5/1614-7/18 Ordinary. Octal
14-5/8...
Rae
Announcing the names in the House of Commons, Capt. Crook- shank said he hoped to convene a conference within the next few days after which it would pro- ceed with its inquiries under the chairmanship of Viscount Weir.
60,000 HOMELESS CHINESE AT WORK
The development of handicraft and light industries us another solution of the refugee problem in China is well started. In many cities, towns and villages through- out. Free China mall factories have sprang into existence, esta- blished by the Chinese Govern- ment or by civic philanthropte or- ganizations with the financial aid of Central or provincial govern- ment authorities. They have s their common aim the utilization of refugee labour to the advantage of China's war of attrition against Japan.
"Already 61,540 refugees are em- ployed in the operating factories. When all the plants for light in- dustries are ready, hundreds of Tin, Standard, 3 months, £225 again be able to be self-support- thousands of other refugees: will
3 months 14-1/2 Final Afternoon Transactions": Tin, Standard, Cash, £230 sel- Jers,
1/4 sellers.
BROKERS LOANS
New York, July 27 (Reuter). Loan on securities to brokers in New York;
Week-ended
July 20 $472,000,000
Week-ended
July 27, 3523,000,000
Hing
Of those already working, 50,000 have become members of indus trial co-operative societies ́esta- blished in various centres by the Chinese Industrial Co-operative Association. The Association's $700.000 capitalization came from the Ministry of Finance—(CIC)))
SATURDAY, JULY 29, 1939. -PAGE 13
PRESIDENT LINER
8.8.
SA
Sailings
FOR SAN FRANCISCO & LOS ANGELES via SHANGHAI, KOBE, YOKOHAMA “and HONOLULU PRESIDENT COOLIDGE " Sails July 30th at 12 Noon PRESIDENT TAFT" 8.S. "PRESIDENT CLEVELAND" AS. "PRESIDENT PIERCE"
"PRESIDENT COOLIDGE” "PRESIDENT TAFT *
AND FORTNIGHTLY THEREAFTER
6.8.
Ang. 19th at 8:00 AM, "Aug. 26th at 8,00 AM. Sept. 9th at 400 P.M.
1
Sept. 23rd at 9,00 AM. Oct 7th at 8.00 AM.
FOR NEW YORK & BOSTON via Suez
וי
SS. PRESIDENT ADAMS" 8.8." PRESIDENT VAN BUREN"
1
Sails Ang. 5th at 18. Noo
Ang. 17th at 18 NOON
AND FORTNIGHTLY THEREAFTSB
FOR MANILA
8.8 PRESIDENT ADAMSTM 8.S. PRESIDENT TAFT " "SA " PRESIDENT CLEVELAND” 8.8. PRESIDENT HARRISON"
Sails Aug. 5th at 12" Noor
Aug. 5th at
Aug, 19th at 2.00 A.M. Sept. 1st at 12 NOOM
AMERICAN PRESIDENT LINES
"ROUND-WORLD SERVICE"
12, PEDDER ST.
Prieste
Lloyd
TEL. 28171.
FORTNIGHTLY
EXPRESS SERVICE
FAR EAST—INDIA—ITALY
Hongkong-Louden 13 days Hongkong-Italy 21 days
SCHEDULE OF SAILING FROM · HÓNGKONG
TO MANILA, SINGAPORE, COLOMBO, BOMBAY, EGYFT * ITALY
TO SHANGHAI
6th Aug. mv. "VICTORIA" Ls. “GIULIO CESARD" ích ống, "O. BIANCAMANO” 10th Sept. "CONTE VERDE” and Sept. m.v." VICTORIA” · 7th Oct.
*
m.. "VICTORIA" 12th Aug. A. "GIULIO CEBARE" 1st Sept. 1.5. "C. BIANCAMAN O" 16th Sept. L. "CONTE VERDE" 29th Sept.
14th, Oct. m.v. "VICTORIA"
LLOYD TRIESTINO. P.O. Box. 143. Tel. Address “Lloydiano"-Telephones
32982 Passenger 32983 Freight
THE BEN LINE STEAMERS, LTD.
S.S. "BENRINNES"
Sailing for LONDON, ROTTERDAM, ANTWERP, HAMBURG and LEITH on or about the 6th August, 1939.
Cargo will also be accepted on through Bill
of Lading to the usual transhipment ports.
For Freight and l'anage apply
to the Agents:
W. R. LOXLEY & CO., (CHINA) LTD.
Tel. $4165
MAERSK
SERVA
York Building
LINE
Fortnightly Express Sailings
KEELUNG, SHANGHAI #04 JAPAN,
LOS ANGELES, PANAMA. NEW YORK BOSTON, PHILADELPHIA, BALTIMORE,
NORFOLK & SAVANNAH
Through Ba/L are issued to Central and South America, Gulf and Caribbean Sea Ports and West African Porta
Sailings to UBA. Arrivals from USA
9th Aug.
M.V.HULDA MAEESK"
MYT MARUREN MAERSE”- MY
LEXA MABESK "/
11th Aug.
97th Aug.
13th Sept
(All dates are mobject to alteration without notion) EXCELLENT AUCOMMODATION FOR PASSENGERS
AT MODERATE RATES.
For Freight and Passage please apply's
JEBSEN & CO.
Canton Shameen, BC, Agents
Ta 10918. Swatów Aguiar GEBR ROESE
"Hong Kong, Podder Bulking.
Tel 81205-6.
Tel. 1688.