HONGKONG DAILY PRESS
Finance and Commerce
KOKIU TIN MINES YIELD $30,000,000 WORTH YEARLY
CHUNGKING, Sept. 1 (Central)--In the last three years, more than 9,000 tons of tin were annually produced and exported. from the Koklu mines in Yunnan, The sale brought the Yan- nanese from $20,000,000 to $30,000,000 depending on the quotations In the London market and on the exchange rate between pounds sterlings and Chinese dollars,
FORTY MINES
Since 1938, the production and cent Increase, of the Provincial marketing of tin in Kokiu have Bank price to $5,020 for 1,000 cat- been controlled by the Yunnan ties of tin is expected to bring the Provincial Bank which pays $2,200 production to an unprecedented to $2,300 for every 1,000 cattles of level, the metal produced by private miners.
Besides several hundred private- This, however, had a re- tarding effect on the whole output owned pits and surface workings, as the figures show that the 1938 there are in Kokiu to-day 40 mines production represented a decrease in operation and 60 native smelt- of more than 2 percent when coming places. pared with that of 1937. The re-
LONDON STOCK EXCHANGE HAS
QUIET SESSION
LONDON, Sept. 1 -Da the London
change, most
(Reuter)
Stock Er- closed Kroups
the
rather easier after ä quiet session, in which even announcement
of to-day's closing of the markets filled
to cause any material selling. The latest
developments
adversely
H. K. STOCK EXCHANGE
Once again the week's market has been a kaleidoscope. Opening and continuing up to yesterday. bouyant and rosy, and with a wel- come sign of returning confidence, buyers had been more in evidence than for sometime past. The far sighted precautions taken by the Authorities 1. Home Brit'sh against eventualities, have been entirely misconstrued here and these have been aggravated by the conflicting reports from. Europe. Consequently the market hits re- lapsed to the tender state and considerably fallen trading has off.
But it must be noted that in spite of all this, what little business The Yunnan Tin Corporation is has been reported to-day is on a junder the technical supervision of higher level than last week's
Mr. 8. B. Archdeacon, an English-closing rates.
man who worked for 28 years in
the world-famous Australian Tin
Corporation and who designed the
reverberatory and purifying fur. naces in the Yunnan plant.
The corporation is producing 13,000 tons of high-quality tiri slabs a year which is about one-third of Koklu's total annual output, which in turn is approximately 80 per- cent of China's yearly production of that metal..
WOLFRAM ORE
Wolfram ore is another rich in mineral of Yunnar.. Its presence connexion with the international was discovered only three years crisis have
affected ago. It la abundant in the area sterling, which closed at 4.285 west of the Huangmaoshan tin The ore dag in terms of the dollar; compared mines near Kokių.
out from the ground is collected with 4.395.
The crisis is responsible for the by the Yunnan Wolfram Company. Increase of
£20,000,000, over
ina semi-official concern. The aver- the Bank of England note cir-age output is approximately 80 culation, which at 539.5 millions tons, a month and its exports were valued at close to 4,000.000.000 last establishes a new high record.
year.
Wall Street was easy.
Chinghai Province Makes Remarkable Progress
SINING, Sept. 1 (Central)-Chinghai (Kokonor), the far-flung province in western China, has taken big strides in reconstruc- tion in the past year.
The progress has been made possible through the efforts of the provincial authorities and the cordial relations now prevail- ing between the Hans (Chinese), Manchus, Mongols, Mohamme- dans and Tibetans.
The pac, chia (mutual protec-| Taerhssu is flanked on both sides tion) system has been successfully by vast foresta. introduced in 11 of the 17 districts
Many new highways with Sining.
in the province, namely, Sining, the provincial capital, as the con- Haunhua, Kweiteh, Tatung, Huchu, verging point, have been con- Welyuan. Lotu, Minho, Huang-structed. The total kilometrage of hsten, and Tungjen. The effect of new roads last year was 2,893. the introduction "of this system Popular education has been pro- All has been proved by good order and moted with energetic efforts, peace maintained, and the dis- children up to school-age are re- covery of several cases of espion-quired to go to school, while able- age.
TRAINING ENFORCED Training of able-bodied men has 'beer. gidly enforced since the start of the Sino-Japanese hostili ties. All males between 18 and 50 years of age, except those who are
physically unft, are required to underzo military and spiritual training.
Chinghui leads other provinces in the Northwest in afforestation. General Ma Pu-fang, Chairman of the Chinghal Provincial Govern- ment is an ardent promoter of tree-planting. Since fils. assump- tor of the governorship, he has made tree-planting one of the principal tasks in the province. He said that. Chinghai's poverty can be relieved through afforesta- tion.
VAST FORESTS
bodied men undergoing training have to learn characters for half an hour per day.
One hundred sons of Mongol princes and Tibetan dignitaries are receiving education in the Provin- clal School for Mongolians and Tibetans.
BUSINESS DONE DURING
"THE WEEK
HK. Bank, $1100, $175, $1200.
$1317, $1320.
Union Ins., $350. Docks $14.
Providents; $34, $3.60, $33, $4.17),
$4.40.
Hotels. $3, $3.60, $3.85, $4. $43. Lands. $30, $31. $31.
Tramways, $131, $14, 3142, $14.30.
$15 $15.85.
Star Ferrics, $58. Yaumat! Ferries, $22.
China Lights (O), $6.35,- $64.
$6.80 $7.. $7.70.
Electrics, $49, $51. $53, $54. Telephones (O), $20.
Cements, $121...
Dairy Farms. (Q), $191, $19). Dairy Farms (N), $187, $19. Watsons, $71.
Raubs. $7.96, $8.
Hongkong Mines, 2 cta. Govt. 4% Loan. $100, Gort, 31% Loan, $98.
BUYERS
China Lights (0); $7.10. Telephones (0), $199.
SALES
HK. Banks, $1290/50. HK. Tramways, $15). China Lights., (D), $730. Telephones (0), $183/20.
PHILIPPINE GOLD MINING
Ataks
· QUOTATIONS'
Baguio Gold
171
17
Antomoks
191
Batong Buhay
Benguet Consol,
20"
Big Wedge
Coco Grove
Consol. Mines
I. X. L
012
09.70
18
0011
081
Demonstrations.
38
Itogons Mining.
211
Manbulao Consol.
06
Masbates Consol,
09
Mine Operations
11
141
78
20
114
30
Paracale Gumaus San Mauricio Surigao Consol. Suyoc Conso). United Paracales Mindanao Motherlode
Ominous Signs On Foreign
Exchange
STERLING BREAKS
BADLY
NEW YORK, Sept. 1 (Reater) On the Foreign Exchange yester- day, sterling brake badly as the war threat seemed more ominous and as Britain announced evacua- tion and also the closing of the London Stock, Exchange.
It is estimated that 5,000,000 "trees have been planted in the province while seedlings planted
Sterling temporarily slumped to during the current year number
then moderately rallled. 1,567,000. One section of the high-4.27, way running between Sining and Meanwhile, other currencies show-
WEEKLY RETURNS AND REPORTS
BANK OF ENGLAND
Public Deposita. Other Deposita:
Bankers Other Accounta Total Government-
London, August 31 (Reuter).
Aug. 13
&
Aug, 14
22,370
31,070
$2.130
90,140
35,230
38,080
128,360
129,120
Securities
09,670
113,130
Other
5710
Discount & Advance
24.330
24,530
Total
30,040
Notes
and Couns
39.200
Total Bullion
247,360
Notes in circulation
508.060
Radio of Reserve to Liabilities
26.00%
Price of Gold at which holdings are valued
148/6.
529 .300 21.38% 158/6
a Securtiles:
FEDERAL RESERVE SYSTEM
6,390
31,020
34.200 283,750
New York, August 31 (Reuter)
Aug 17: Aug. 24
000's omitted)
Bills Bought.
UB. Securities held
Federal Reserva Ratio
Federal Reserve Credit Outstanding.
$1,000 2,423,000
3% 2:441,000
Monetary Gold Stock
18.501.000
Industriál. Advance
1.000 2,428,300
$1,448,000/
16,638,000.
11,667.cop
ed most erratic and sudden move- ments, with several rising sharply as sterling declined.
Currencies Drift
With all pegs removed and stabilization funds husbanding the resources, each currency drifted and were influenced promptly by zeizable orders either way."
The lira was reported to have temporarily broken loose from the existing official moorings for the frst time in many years, while the Belga gullder and the Swiss franc were most buoyant, presumably because of the flight of funds to these countries.
On the other hand, Far Eastern- ers were mostly weak, with rates remaining at normal"
The futures market continued to be most restricted, with sterling discounts little changed. However, such rates were more of less nominal.
SILVER MARKET
LONDON BILVER
London, Aug. 31 (Reuter). Silver-India and speculators sold. Bupport small. Market steady at the decline. In the afternoon, the market was firm, with buyers at a farthing over the fixed rate but with sellers holding off.
Spot. 18-7/16d:
Forward, 18-5/16.
NEW YORK SILVER
New York, Aug. 31 (Reuter), Official Price, 35-1/2.
BOMBAY SILVER
Bombay, Aug. 31. (Reviter);!??
| Market-Eary. - Oftake 25 bars,
Indian Minf Silver
Ready
-Sept. 9 Bettlement
Oct. 7, Bettlement
19-00 48-15
་་
FINANCE
SATURDAY, SEPTEMBER 2, 1939. -PAGE 'I'}}
LAMMERTS' AUCTIONS
'CONSIGNEES' NOTICES CONSIGNEES' NOTICES CONSIGNEES' NOTICE.
SERVICES CONTRACTUELS DES SERVICES CONTRACITELS DES THE BEN LINE STRAMERS, LTD.
MESSAGERIES MARITIMES
CONSIGNEE' NOTICE,
S.S. " YANG TSE' 100/39.
BRINGING CARGO Fxou. DUNKIRK vis HAIPHONG éto
ARRIVED HONG KONG 。 FRIDAY, THE 18 SEPT., 1939.
MESSAGERIKS MARITIMES
CONSIGNEE NOTICE,
8.8. * JEAN LABORDE" 21'A/39,"
BRINGING CARGO From MARSEILLES via SAIGON, etc.
ARBITED HONG KONG of THURSDAY, "xm 31sr AUG., 1939
UNSIGNES are uereby informed that their goods with the exception of Opium, Tressure and Valuables are being landed & stored into the Godown of the Hong Kong, Kowloon Whart & Godown Co., Ltd, Kowloon, whener
landing.
From LEITH MIDDLESBRO', ANTWERP, LONDON AND STRAITS.
«THE S.8.." BENMOHR”
PUBLIC AUCTION.
TUE. Undersigned rave received
instructions
to sell by
PUBLIC AUCTION
CA
HONSIGNEES of Cargo are hereby Cinformed that all Goods are being landed at their risk into the hazardous and/or extra baradons Godowns of the Hong Kong and SATURDAY, the 2nd SEPTEMBER, Kowloon Wharf & Godown Company, Ltd. whence and/or from the wharves delivery may be obtained.
No Claims will be admitted after the Goods have left the Godown, and all Goods remaining undelivered after the 6th Sept will be subject to rent.
ONSIGNEES are hereby informed that their goods with the exception of Opium, Treasure and Valuables are being landed & stored into the godowns of the Hong Kong Kowloon What and Godown Co., Ltd. Kowloon, whence delivery may be obtained immediately be presented to the undersigned on or
delivery may be obtained immediately after landing..
All Claims must be sent in to me on or before the 12th Sept., 1939, or they will not be recognized.
Damaged Packages will be examined by the Company's Surveyors, Mesar. Goddard & Douglas in the presence of the Consignees at 10.00 am. ou Thursday, the 7th Sept., 1989.
Consignees must have Revenue Officer in attendance when any dutiable goods are examined by the Company Surveyors.
No Fire Insurance will be effected by as in any case whatever.
R. OIL,
Agent. Hong Kong, 1st Sept., 1939,
after
All claims must be sent in to me os or before the 11th Sept, 1939, or they will not be recognized.
All claims against the vessel must
before the 20th Sept., 1939, or they will not be recognized
To comply with the General Bonded Warehouse Regulations, Consignees must have a Revenue Officer in atten- dance when damage datiable. gooda
Damaged Fackages will be examined by the Company's Surveyor, Messrs Goddard & Douglas in the presence of the Consignees at 10.00 on Wednes- are examined. day, the 6th Sept.,, 1939.
Consignees must have » Revenue Officer in attendance when say datiable goods ars examined by the Company's Surveyors.
No Fire inserance will be effected by us in nay case whatever.
R. OEL.
Azent.
Hong Kong, 30th Aug., 1999.
[666
All broken, chafed, and damaged Goods are to be left in the Godowns, where they will be examined on the 4th September, 1939, at 9 a.m., by Messrs, Carmichael & Clarke
No Fire Insurance has been effected. Bill of Lading will be countersigned
by
LI
"W. R. LOXLEY & Co. (CHINA) Lro.
Agenta Hong Kong, 30th Aug., 1939.
Rolni TAILORED GOODS
ON
1k
SALE
AT
CHINA BUILDING, GROUND FLOOR, opposite Hongkong Hotel.
1930.
Commenciar at 11,00 an...
At their Bales Room, No. 2 Connaught Road, Central, (Room No. 205, 2nd Floor).
A' QUANTITY OF OFFICE FURNITURE AND PERSONAL
KITECTS
ales
500 Bags Portland Cement 1 Case Asparagus Tips
and
(For account of the, concerned)
4 Packages of Ladies' Handbags and Gentlemen's Dress Bets.
Terms: Cash on Delivery.
LAMMERT BROS..
„AUCTIONEERS,
What do
you want ?
If there is anything you want to buy or sell, try 3 Classided ment in
PROLAJI
·advertise-
the Hong-
Long Daily Press.
25 words $1,00 prepaid"
for 3 insertions.
Shandy
U.B.STOUT
and
TONIC
a most refreshing drink.
after Exercise
Sole Agents:-W. R. LOXLEY & CO. (China) LTD.