HONGKONG DAILY PRESS
Finance and Commerce
PLIGHT "OF CHINESE
DOLLAR
MOST DIFFICULT CURRENCY PROBLEM
LONDON, Aug. 18
-The plight of the dollar presents
(Reuter)
Chinese
of the
prob- during
--
one most difficult currency lems encountered even the last twenty years of change chaos, says the "Finan- chal Timea."
וי
The fall cannot, but inter- fere seriously with what re- with trade mains of British China, but the causes of the collapse are military raiber than economic.
New British INDUSTRIAL
Institute In Bucharest
EXHIBITION IN
JANUARY
ex-
ENTERPRISE
IN CHINA
CHUNGKING, AME. 16 (T/
Ocean)
The China. Hsin Yich Company," under the chairmanship of Dr. H. H. Kung, and including Mr. Fu Yu-ling, former Vice-Minister or the Interior 23 General Manager, and with the co- operation of many leading financiers, has been founded here with headquarters in Chungking.
The British Council for Cul- tural Relations with foreign countries, which has been respon
at Verilce, sible for exhibitions New York, San Francisco, War- saw, Helsingfors and Stockholm, will organize and install an hibition at Bucharest in January and the Council of Art and In- The total capital will be $13.- dustries of the Board of Trade 000,000 and the development of will. through sub-committee. Inland Industry will be the object select the exhibits. The Exhibi-of the company. with special tion will include a section ilus-interest in machinery, export and trating country life in England import and iron and steel works. with still models of farm build- The company, which will have ings and agricultural comple-branch offices established in ill has ments Fund
and country crafts, a leading cities. is already partly recent well as town products of pottery. [functioning. the clearly that
books. the textiles, furniture,
silver endeavour to hold the dollar at and decorations. eight pence of June or even six pence, half-penny of early July has been impossible.
British Effort Stablization
The done good work, but drop shows
"
Fund
The inception of the was very largely the work of therefore Great Britain, who made a big effert to uphold her own interests and, "those of other countries with Far Eastern associations and It is only a negative satisfac- tion that lack of success had serious reactions upon", the Japanese who provoked it,
Japanese Demands
In same -month the founda-
Fron and Steel Works Meanwhile, a further big iron. and steel company is being form- tion stone will be laid of the Bred and will come into existence tish Institute in Bucharest on within a month with the sole ob- site presented by the King [ject of promoting China's fron
ΟΣ
visit
to
and steel industry.
are
Rumania after his last England.
A11 these organizations There has been an Institute in
receiving encouragement and as- Bucharest for some time founded sistance from the Chinese Gov-
interested the new
ernment.
by Bucharest citizens in British culture and British Institute, with which the British Council is concerned. will provide a lecture Hall, reading rooms and classrooms for pupils studying the English language. institutes at "Britain cannot be expected to There are similar
and Athens.- exchange Paris, Florence give active support to
+
without limit in. the absence of (BW8)
closer co-operation of the others
affected and we can, and should,
refuse the demands the Japanese
intend to make to to help U.K, EXPORTS AND
163
to enlarge their limited success
in implanting their own .com- merce from there,
COLONIAL EMPIRE MARKETING BOARD
LONDON, Aug.
16
IMPORTS
WEEKLY WHEAT
REPORT
Liverpool Aug, I REYNOLDS AND GIBSON WHEAT
Through Payne and Co., Hongkong
LIVERPOOL. In the early part of the "period under review, prices, despite the weakness of American markets, remained steady on ru- Kirigdom goods mours that the British Govern- and of imports compared with a ment is negotiating the purchase year ago are features of the Over- of 50 milion bushels of Canadian
LONDON. Aug. 16 (BWS) Considerable increases in the ex- ports of United
wheat, to be stored on the Atlan- tic seaboard pending arrangements
seas Trade Returns for July.
Re-exports declined. Exports of (BWS) UK goods were valued at £40-10 storing larger quantities in the
The value of imports last month was £78,279,673, against £82,174,-
Colonial 355,025, compared with £39.895,256 The first report of the Empire Marketing Board, set up in June and .37.449.969 in July in 1937 by Lord Harlech, then 1938. Secretary for the Colonies, to help "Colonial territories to develop their own sources of wealth," to 759 13 sell more goods and to sell those goods to better advantage." was Issued yesterday.
The Board began operations tr
June and £73,897,551 year ago Figures for re-exports were" £3.725.263. £4,307,707 and £4.385:213, respectively.
U.K. Later "in the week futures rose quite sharply under a better consumptive demand, some specu- lative buying. short covering and lack of selling pressure encouraged by less favourable reports from States Canada and the United Spring belt, where lack of rain is causing increased anxiety.
Canada has had local rains but For the first seven months of these have not been sumclently
March 1938 and its work during the the year, exports, at £276,618.612. widespread to effect the heat first year can be divided into two were £5,990,284 up on the corres which has taken further toll of main sections:-
ponding period of last year, but the crop.
First, to put into the mind of showed a decline of £22,306.107 In the American Spring belt, the general public at home a farjover the first. seven months of reports indicate heavy damage clearer picture of Britain's posses-1937.
from heat and dryness in parts of stons overseRS;
Imports, at £525,513.938. were the Dakotas and Montana. Pri-
FINANCE
11
H. K. STOCK EXCHANGE
The short session did not allow suficient time for the market to get into a proper stride.
BUYERS
HK. Wharves, $102 H.K. Docks, $14.15, "Providents. $4.15.
HK. Lands, 4% Debentures, par. Canton Ice, $1.
Cements, $133.
Dairy Farms (0), $201. Dalry Farms (N), $19. Watsons, $71.
HK Govt. 4% Loan, 1024. HK Govt. 31% Loan, 99).
SALES
HK. Docks, $18.20/25. HK. Electrics, $341.
PHILIPPINE GOLD MINING QUOTATIONS
Atoks
LX. L
Ipo Gold
THURSDAY, AUGUST 17, 1939. —PAGE N
This amazing new tire
stops your car quicker, Refer than you ever stopped before.
See
us for a demonstration,
GGCERICH LIFESALER TREAD.
has never ending spiral bars that act like.
windshield wipers,' sweep water right and left, force it out" through deep grooves and make a dry track which rubber can grip.
Centavos.
201
Antamoks
2011
Baguio Gold
201
Batong Buhay "...
013
Benguet Consol,
10.50
Big Wedge
20
Coco Grove
211
Consol, Mines
0015
Demonstration
091
43
16
Itogons Mining
23
Manbulao Cansol,
064
Manbate Consol,
11
Mindanao Motherlode
81
Mine Operation
13
Bank of China Bldg.
Tel 31926.
་
North Camarines
241
Local Distributors :
Paracale Gummaus
16
KA FOONG TIRE
CO.
San Mauricio
131, Hennessy Road.
Tel. 94140.
Surigao Consol.
21
Suyoc Consol.
14
Syndicate Investment
028
United Paracale
411
PHILIPPINE GOLD MINING
QUOTATIONS
Wednesday, Aug. 16, 1939.
Atoks
Antamoks
Baguio Gold
LX. L Ipo Gold
LAMMERTS AUCTIONSĮ
PUBLIC AUCTION.
THE Undersigned have" roonived
instructions
TO SELL BY
a
PUBLIC AUCTION
ON
FRIDAY, the 18th AUGUST., 1939
Commencing at $.30 p.m.
At their Sales Room, No. 36, Hankow Road, Kowloon.
A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE
Comprising:-
Teakwood Drawing Room, Bed Room and Dining Room Furniture. Desks. Ice Chests, Radios, Orna- Aluminium, ments, Brass, E. P. Porcelain and Glass Ware, Carpets, Rugs, etc., etc.
also
The New Goodrich SAFETY Silvertown
Sole" Importers for Chind and · Hongkong =
CARLOWITZ & CO.
A FEW PIECES OF BLACKWOOD FURNITURE
and"
At 3.00 p.m..
One Alsatian Dog (between 8 to 9 months old)
On VIEW from THURSDAY,
the 17th AUGUST, 1939,
TERMB:--Cash on Delivery
LAMMERT BROS..
AUCTIONEERS.
MAERSK LINE
Fortnightly Express Sailings
PUBLIC AUCTION.
AERS
LINE
THE
KEELUNG. SHANGHAI and JAPAN
Centavos
201
214
201
Batong Buhay
013
Benguet Consol.
10.50
Big Wedge
20
Coco Grove
Consol. Mines
0015
Demonstration
091
16
Ttogons Mining
231
Matbulao Consol,
Masbates Consel
11
Mine Operation North Camarines
13
24
Paracale Gummans
16-
San Mauriclo
By
Arrivals from 1.8.A.
Surigao Consol.
21
Suyoc Consol.
141
M.V. "MARCHEN MAERSK“
Syndicate Investment
028
9th Aug.
MV LEXA MAERSK”
**
United Paracale.
411
29th Aug.
M.V. "ANNA MAERSK"
Mindanao Motherlode
081
#
Secondly, to investigate and in- icwer by €17.505.407. compared vate cables state that the indicat- HONGKONG
prove Ways in which leading Colonial products are brought to .market.
Among the means which
thie
with a year ago and by £43,506,- ed damage to Spring wheat in 128 compared with the correspond- Montana is 25 per cent, while in
North Dakota, Spring bread wheat: ing period of 1937. Board is employing to create in- Re-exports for the seven montas 18 estimated damaged to the ex- terest in the resources of the amounted to £31,818,330-£5,394,- tent of 20 per cent, and Durum Colonial Empire are a short 334 less than in the same period wheat 25 per cent. brightly written book on the his-or 1938 and £15,528,819, less than tory and development of the two years before ⠀⠀ Colonies, which will appear short- The increase
In spite of the dumping policy of exporting countries, there are in exports or signs that the market is ready to
ly, and films which are in produc-manufactured goods in July, com- respond rapidly to any construc- tion showing now the Colonies are pared, with July, 1938, was £2.034.tive news. administered and their popula- 1464.
tions cared for...
Many Inquiries
The Glasgow Exhibition and the SINGAPORE-STOCK
New York World Fair have pro
vided other opportunities which
the Board has seized to bring
Britain's distant possessions be- fore millions of eyes
QUOTATIONS
Singapore, Aug. 14. Quotation of 12 leading Singa- Plans are being made to ensure pore stocks received by Messrs.
that, at similar future exhibitions, the Colonies and their resources shall be even more attractively presented.
The Board's
Ellis and Egar.
MIDDLE PRICE
Rubber Shares
+
Secretariat has Amalgamated Malay Estate,
$1.421.....
handled enquiries relating to over
fifty different Colonial products. Kempas, Ltd., $1,77).
ranging
Stocks of wheat in Liverpool: This week 896 loads; last week 842 loads..
Chicago, Prices have moved steadily upwards. during the week, Good mill buying. a fair export demand, and complaints about the Spring crop, contributed to the improvement.
It was
11
SHAREBROKERS'
ASSOCIATION
Volume of Business Transacted on Wednesday, Aug. 16 1939,
375 $16.25 HK. Docks
5,000 Ps. 0.42 United Paracale
MONGOLIAN MINERAL MONOPOLY
According to reports from Kal-
mineral revealed yesterday by gan, Mongolian
sales Agricultural officials in Washing monopoly will be *established ton that in view of present world, through the newly formed joint wheat conditions the United States Japanese-Mongolian "Mongolian may not export 100 million bushels Commercial Company" with capi- The com- Ltd., this year as previously suggested tal of -10,000,000 Yen.
No definite decision has been made pany will have the monopoly of as. yet, but a figure of 70 million sales of output of the important
alphabetically from Kuala Sidim Rubber Co., Ltd.,bushels has been tentatively sug: Tatung al kaines as well as of
agaragar to wool ·
Detailed marketing investiga- tions have followed in the cases
passion fruit juice.
$2.10.
Pajam, Ltd, $1,72}.
$1.25.
of arrowroot, fresh limes, flax and Bungel Bagan Rubber Estates, Ltd. Tapah Rubber Estates, Ltd., $1.524. Tin Shares
BUSIER TRADING ON Fetaling Tin, Ltd., $8,671 x.d.
STOCK EXCHANGE Sunget Luas Tin. Dredging, Ltd.,
$1.40,
Industrials
LONDON. Aug, 10 (Reuter)-An all round advance in büsler trad- ing took place on the London Straits Trading Co., Ltd, $24,80,” -- Stock Exchange owing to the more United Engineers, Ltd., (Ordinary) optimistic views regarding the $8.421. European situation.
Wearme Brothers, Ltd, $12.75,
Gold Shares
gested.
the LA yuen iron mines. Winnipeg.-Values in this mar- The Mongolian autonomous ket also show improvement in-commission provides half of the fluenced by unfavourable weather capital while the other half is reports and buying by, exporters
China Development against good sales to Europe. Un-provided by the Japanese North less there are substantial rains which is the holding company for soon, we look for further ad-
a number of monopolies estab- vances.
lished in North China(Trans- ocean).
EXCHEQUER RETURNS
Company
LONDON, Aug. 16 (BWS) balancing Items, in 2989.236.484. Exchequer returns show that the compared with £857,874,745, at the total of ordinary revenue amounts corresponding date in 1988. [to £344,521,842, compared with
Floating debt, which stood at £224.823,425 at the corresponding 2920.310,000 at the beginning of the financial year amounted, on Customs have yielded £91,517,- Saturday last to 21,128.200.000. The above quotations are in000, against 80,986,000 a year ago, compared with £858,405,000 af Straits Dollara.
Total expenditure, lese self- August 13 last year
Kamirs and oils were prominent while there were useful gains. throughout the list, apart from Raub Australian Gold Mining Co., date of last year....
-Ltd.. #4.471
Home Rails, which continue to be depressed owing to the WATCH dispute.
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 Ports.
Sailings to U.S.A
17th Aug.
15th Sept.
+
27th Sept.
(All dates are subject to alteration without notice.) EXCELLENT, ACCOMMODATION FOR PASSENGERS.
AT MODERATE RATES.
For Freight and Passage please apply:-.
JEBSEN & CO.
Agenta
Canton Shameen, B.C.
Tel.10916, Swatow Agent GEBR ROESE
CONSIGNEES' NOTICES
NOTICE TO CONSIGNEES
OCEAN STEAM SHIP CO., LTD
ANDA
CHINA MUTUAL STEAM NAVIGATION CO., LTD,
YONSIGNEES per Co.'s Vessel
“PERSEUS 2. FROM UNITED KINGDOM & CONTINENTAL PORTS VIA
will
SINGAPORE
Hong Kong, Padder Building.
Tel. 81205—6. Tel. 1852.
NOTICE TO CONSIGNEES
QUBAN STEAM BHIP CO., LTD. AND CHINA MUTUAL STEAM NAVIGATION CO. LTD.
CONSIGN
YONSIGNEESB per Co.'s Vessel
TALTHYBIUS"
FROM SEATTLE, VANCOUVER
AND VICTORIA VIA JAPAN
HE Undersigned, nave received
Instructioon
to sell by "
PUBLIC AUCTION.
SATURDAY, the 19th AUGUST 1939
Commencing at 11.00 a.m.
At their Sales Room, No. 2° Con- naught Road, Central (Room No. 205, 2nd Floor).
A FINE SELECTION OF BRUSSELS CARPETS
also
3 Cash Registers
On VIEW from FRIDAY, the 38th August, 1939.
Terms: Cash on Delivery.
LAMMERT BROS..
AUCTIONERES,
are requested to take delivery of Flour SERVICE TO READERS
and Lumber Shipments as soon as the vessel is ready to discharge and are. hereby notified that if their Lighters ar
not placed alongside the steamer THE HONG KONG DAILY PRESS, L., are hereby notified that their Cargo a required, their Shipments will discharged into Holt' be discharged into Bolt's What Wharf, Kowloon, where it will lie Kowloon, where the cargo will list and the HONG KONG at Consignees risk and subject to expense and subject to the Terms and Terms and Conditions of Storage at their risk and Conditions of Storage WEEKLY PRESS, through Holt's Wharf The Cargo will be at Holt's Wharf Steamer will commence.
London their ready for Delivery from Godown on the 19th Aug: make
don Office, at 5 53. discharged into and after 14th Aug.
General Cargo will be
FLEET STREET, E. C. 4, Tel Optional Cargo will not be landed Bolt's Wharf, Kowloon, where it will lis here, ual Notice has been given prior at Consignees risk sad subject to the to Vossel's azival, but carried on from Terms and Conditions of Storage at 3187, are prepared port to port to the final port of call Holt's Wharf. The Cargo will be ready. to which the option extends.
For Delivery from the Godown on and Subscribers All broken, chafed and damaged floodi ter 12th Aug
to give and Visitors
are to be left in the Godowns, where they All broken, chafed, sad damaged Goode advice regarding accommoda- will be examined on any Tuesdays and are to be left in the Godowns,tion available, motoring faci Fridays between the hours of 10,45 AM will be examined on any Tuesdays and and Noow within the Free Storage period. Fridays between the hours of 10,45 AM
No Claims will be admitted after the and Noems within the Free Btorage period. lities,
Goods have left the Vossel's Godown No Claims "will be admitted after the and all Goods remaining undelivered Goods have left the steamer Godown, & after the 21st Aug. will be subject to all General Cargo remaining andelivered fater the 19th Aug., will be subject to
suitable
centres, etc.
shopping
If, when at home, they will All Claims against the Vomsel must fret, me be presented to the Undersigned on or All Claims against the Vessel call or telephone to the above before the 4th Sept., or they will not be presented to the Undersigned on or
they be recognised,
before this 2nd Sept, 1939, or they will not be recognised No Fire Insarnase will be succted
“BUTTERFIELD & SWIRE
'Agents;
14th August, 1939
No Wire Lesninados will be affected,
BULTERTI BID & SWIRE
617 19th Aug. 1980,