1939-10-25

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HONGKONG. DAILY PRESS

Finance and Commerce |

Colony's Trade For Third ECONOMIC &

Quarter: Total Value

Shows Decrease -

The Imports and Exports Department (Statistical Office) reports that the combined values of imports and exports of merchandise during the first three quarters of 1939 totalled $846.8 millions (£51.9 millions) as compared with $874.2 millions (£54.0 millions) In the first three quarters of 1937.

FINANCIAL

COLLAPSE

GERMANY FACING MOST DIFFICULT POSITION

LONDON, Oct, 24 (Reuter)—Ger-

In terms of local currency In terms of Hongkong currency, man production cannot be expand- the total visible trade of the imports of merchandise decreaseded and public expenditure must Colony decreased by 3.2 per by 7.1 per cent, as compared with grow or the alternatiyes of miation cent. in the first three quar- the first three quarters of 1938, or consumption must be further ters of 1939, as compared and by 28 per cent, as compared drastically reduced. with the first three quarters

with the first three quarters of

of 1938, and increased by 7.31937; whilst exports increased by 1.8 per cent, as compared with the per cent. as compared with arst three quarters of 1938, and by the first three quarters of 21.1 per cent, as compared with 1937..

the first three quarters of 1937.

In terms of sterling. the total In terms of sterling, values im- visible trade of the Colony de- ports of merchandise decreased by creased by 3.9 per cent. In the first 7.8 per cent. as compared with the three quarters of 1939, as compar-first three quarters of 1938, and by ed with the first three quarters of 3.2 per cent. as compared with the 1938, and increased by 6.8 per first three quarters of 1937; whilst cent, as compared with the first exports increased by 0.8 per cent. three quarters of 1937.

as compared with the first three MERCHANDISE IMPORTS quarters of 1938, and by 20.5 per Imports of merchandise amount-cent, as compared with the first ed to $443.7 millions (€27,2 mil-three quarters of 1937.

Hons) in the first three quarters

of 1939, as compared with $477,6

milons (£29.5 millions) in the

TREASURE IMPORTS

treasure Imports of

The present stocks of foreign raw materials is estimated at the most at 800,000,000 marks, equal to

me-tenth of 1914. holdings in foreign exchange and There are no

foreign holdings, etc., are already fiquidated. German crèdit was al- ready at zero for years,

capacity to produce and exports for Future supplies depend on the

temporary relief by plundering stocks from conquered countries. This, however, would impair their future productivity and make them a liability instead of an asset.

Russia cannot be conquered and imports will have to be paid for, as it is unlikely that Rus- sia will grant long crédits to a bankrupt.

A BIG GAP

The big gap in the German sup-

totalled with $8.7 first three quarters of 1938, and $108.000 as compared $458.3 millions (£28.1 millions) in millions in the first three quarters. the Arst three quarters of 1937; of 1938, and $290.9 millions in the whilst exports amounted to $402.9 first three quarters of 1837; and ply of foodstuffs ds eggs, butter, millions (£24.7 millions), $396.6 exports amounted to $79.0 millions millions (£24.5 millions) and as compared with $140.3 millions $332,7 millions (£20.5 millions) and $99.2 millions respectively, respectively.

Continued on Page 11

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGI

Bayere

SHAREBROKERS“ ASSOCIATION

Belier : Salen

Nowins!

TUESDA

ост.

Bank

24.

Bayers scllers Sales

Komisa

$1300 H.K. Banks

lard, vegetable oils, etc., and pro- ducts of only 45 per cent, shortage of fats since 1935 are likely to be- come a decisive factor in the Ger- man, food supply in the future. Hende, "the importance of Holland, Denmark and the Baltic States.

$1275

$575

Do. (Col Reg.)

£5

£74

Do. (Lou. Reg.)

£74

Chartered Bankı ......

Mercantile Bk. "A"

£7

£201

£108

872

50 cts.

$72

101 Mercantile Bk. """ Bank of East Asia ...

N. C. & B. Banks ... Insurances

90 Canton Insurances ... Union Insurances ... Underwriters

$170 H.K. Firs

$3871

મા

Shipping

Douglass

$12

Steamboats

10%

Indo-Chinas

(Prod.)

$30 Indo-Chinas (Def.)...

84/44 Shelle

88.10 Waterboats

13/9 Kailab...........

$200 $1

The creation of technica! armaments has been driven far, but their maintenancs and replacement require reserves and resources.

There is a significance in the starting of a long war with ration-cards and without am- ple and assured resources,

LONDON STOCK EXCHANGE

(REUTER'S SERVICE)

London, October 23.

FINANCE

Bara

WEDNESDAY, OCTOBER 25, 1939. —PAGE

Bress

Hongkong Daily

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