SINGAPORE RUBBER
Dec. 2
Dec, 4
+
39-1/4 buyers
JAN-MARCH
37-3/4
39-1/8 buyers 37-1/2
APRIL-JUNE
35-5/8
35-3/8
JAN-MARCH
APRIL-JUNE
Dec
1
11-3/8 buyers 11-7/16 11-1/4
Dec. 4
11-1/4 buyers
11-1/4 11-1/8
The market was dull.
108 1/2
× 3/3
On Bangkok:-
COTTON: Near months were steady under the influence of the
Trade.
Distant positions strength of Spots and covering by the showed hesitation on increased prodt-taking
realizing. trend in the immediate future largely depends upon the approach- ing farmers' referendum on the 1940 crop.
and
149 1/2
Sterling Notes:-
Bank Buying Rate
1/4
Bar Silver per 02
23 1/9
Market
"Dull.
J
U.S. Dollars
March
May July
September
11
||
Market Report
FROM ROZA BROS. The price for Ready Silver was unchanged yesterday but the For- ward rate rose 1/18 to 23.11/16. Silver advices reported India as having bought. The market steady. American Silver was quot- ed at 34.3/4 for Spot
The
was
London-New York cross- rate was quoted at 402. New York- London was quoted at 389.7/8.
Sterling
There were sellers at 1/2.31/32 December/January and 1/2.15/16 March/April, buyers at 1/3 Cash and 1/2.31/32 March.
RUBBER: The market is quiet and featureless. The factories are reported to exchange futures for actuals.
WHEAT: Continued unfavourable crop advices and the Armness of the cash market are the chief price-substaining factors.
NEW YORK STOCKS: Previous close. 148.83; Today's close, 146.34: Change, off 28.
NEW YORK COMMODITY MARKET (By Courtesy of Messrs. Swan, Culbertson & Fritz, and S, E. Levy & Company)
New York Cotton, Mar New York Rubber, Mar. Chleage Wheat, May Chicago, Corn. May New York, Hides, May
NEW YORK COTTON December
January
There were sellers at 24.1/4 Cash,July (New contract)
24.3/18 December and 24.1/16 October January, buyers at 24.5/16" Cash, December ( 24.1/4 December and 24.1/8 Spot
January:
Shanghai Dollars
Note: December cotton, last notice day:-12/15/39. NEW YORK RUBBER
Opened with sellers at 332. The December. highest rate touched was 335. March Towards the close at 1 p.m. sellers May were quoted at 328 and buyers at July *330.
Shanghai Market
Sterling opened with sellers, for.. Spot at 47/16 and towards the
Bendix Aviation
Ellas & Co.
PAGE 10-HONGKONG DAILY PRESS
FINANCË
FOREIGN MARKETS & QUOTATIONS
MONEY AND EXCHANGE
CLOSING QUOTATIONS
DECEMBER 5, 1939
On London:---
Telegraphic Transfer. 1/2 7/8 Bank Bills, on demand/2 7/8 Credita 4 months' sight-1-3 1/4
On Shanghai:-
On demand
On Singapore:-
On demand
On Japan:-
On demand
On India:-
320
+9*3/4
102 1/4
Talegraphic Trangler. 8 38 and demand...............}
On New York:-
Bank Bills, on demand 24 3/18 Credits, 60 days' sight 94 7/4
On. Batavia :-
On demand S.,!....................,451 1/
On Paris:-
Bank Bills, on demand 1: 90 - Credits 4 months' sight 1145
On Saigon --
On demand
Du Manila:-
On demand
On demand
SPOT
PAYNE & CO.
COMMODITY BROKERS
STOCK EXCHANGE . BUILDING
HONGKONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
The market was quiet, LONDON RUBBER
SPOT
باد 10
י
NEW YORK STOCK EXCHANGE
QUOTATION
STOCKS
Adams Expresa
Last Sair
Dec. 4
8
DEC. 5 1939
STOCK'S
Last Rale
Dec. 1
Reserve Funds:
Sterling
Lakey Foundry & Mac..
4
Alleghany Steel Co...
"213
tubbey-Owens-Ford
Glass
191
Roserve Liability of
Ailled Stores
97
Lockheed Aircraft
301
Proprietors
$20,000,000
Allis Chalmera
372
Loew's Inc.
33+
Head Office:-HONG KONG
"Aluminium Ltd
1024
Mack Truck Inc.
28
Amerada Corp.
Manhattan Shirt Co.
Amer. Can.....
110
Martin, Glen L
381
American Cyanamid B
317
...
McKesson & Robbins, pid,
Board of Directora: Hon Mr.. A. L. Shields,
New York, December 4.
Amer, & Foreign Power
2}
Monsanto Chemical
104
Change
Ameri & Foreign #7 pt..... 25
W. H. Lock, Esq.,
Montgomery Ward
53
American Gas & Mec
371
National Aviation
111
of 1/8
Amer. Locomotive
201
Fat. Dairy Products
153
0# 1/4
Amer. Metals Co.
241
Nat. Distillers..
J. E. Bousfeld, Esq., A. H. Compton, Esq.,
24
of 1/4
Amer. Radiator
91
National Gypsum
11
D. F. Landale, Esq.,
Amer. Rolling Mill
162
National Lead
311
Change
Amer. S'ting and Ring Co.
191
Nat Power & Light
81
A. S. Morrison, Esq.,
Amer, Sugar Refining
19
National Steel Corp.
70
Hon. Mr. T. E. Pearce,
of 1/8
Amer. Tel. & Tel
1648
Nat Supply Corpn.
81
H. V. Wilkinson, Esq.
of 3/18
off 1/8
The
Amer. Tobaccò "D" Amer. Waterworks Anaconda Copper Atchison, T. & S. Fe. Auburn Motors Baltimore & Ohio
811
New York Central
173
114
| Niagara Hudson Power ..
63
3041
N. American Aviation ................
232
251
North American Co.
23
3
Northern Pacific
01
St
Owens-Illinois Glass Co.
651
Amoy Bangkok
Harber Asphalt Co
15
Pacific Gas & Mec.
321
Batavia Kobe
"
Bombay
Kowloon
"Rangoon Baigon San
WEDNESDAY, DECEMBER 6, 1939.
BANKS
HONGKONG & SHANGHAI THE CHARTERED BANK OF
BANKING CORPORATION
Authorised Capital....... $50,000,000
INDIA, AUSTRALIA AND CHINA
Issued & Fully Paid Up $20,000,000 Incorporated by Royal Charter, 1885
Paid-Up Capital £6,500,000 Reserve Fund
LE
H.K. Currency Reserve $10,000,000 Reserve Liability of Pro-
Chairman.
Deputy Chairman,
Hon. Mr. S. H. Dodwell,
G. Miskin, Esq.,
Sir Vandeleur M. Grayburn,
Chief Manager.
il
Branches:
Ipoh. Penang Johore
......£3,000,000*
£3,000,000
prietors
£3,000,00%
HEAD OFFICE: LONDON:
38, Bishopsgate E. C. Sub-Arenales In London:
117, 122, Leadenhall Street, E.0.3. West End Branch:
14/16, Cockspur Street, S.W.1. Manchester Branch:"
53, Mosley Street, Manchester, 2.
AGENCIES AND BRANCHES:
ALOR STAR AMRITSAR
BANGKOK
BATAVIA"
BOMBAY CALCUTTA
AGENCIES: CLIVE STEET PAIS PLACE
CANTON CAWNPORE
KAMBIN
PINANG FoNd raro KANGOON ILOILO IPOR
TABACHI KLING"
XOBE
KEALA"
LUMPUR KUCHING
MAD BAR MANILA
SAIGON
BEREMBAN
SHANGHAI
SINGAPORE
SITIAWAN
SGURABAYA
TAIPING
TIENTBIN
TONGKAH
(Bhuket)
TINGTAŬ TOKOBAMA
CEHU
COLOMBO DELI
MEDAN
Barnsdall On
124
Pacine Lighting
473
Calcutta
Kuala
Francisco
281
Packard Motors
34
Bethlehem Steel
793
Paramount Pictures
72
Chefoo
***
Canton 'Lumpur Shanghai
Londoa Singapore
Pennsylvania R.R
22
Colombo
Lyons
Sourabaya
Boeing Airplane Co.
214
Phelps-Dodge
38]
Dairen.
Malacca Sungei
Borg-Warner
241
Phillips Petroleum
40
Foochow
Manila
Patani
Biggs M'facturing
221
Pittsburg Coke & Iron
81*
Haiphong Muar"
Swatow
Brooklyn-M'hattan Trans.
134
Public Service of N.J.
39
Hamburg (Johore) Tientsin
Brooklyn-Manhattan $6
473
Fullman Inc.
327
Harbin
Canadian Pacific R'was. ...
+
Pure Oll
B1
Hongke
Case J, I.
63
Radio Corpin, of Am.
51
Iloilo
Celanese .....
25
Reading Company, Com:
16)
(Chesapeake & Ohio ......................
41
Reading Company, las pid
251*
Chrysler Corpn
85
Remington Arms Co., Inc.
4}*
Climax-Molybdenum Co.
451
Republic Aviation Corp.
51
Prev. To-day's High
Close Close Change Low 9.00 9.80 9.84 9,87 ,03 up 18.78 18.62 18.79 18.62 17 off
891 883 894 891 543 531 541 541 14.73 14.59 14.68 14.66
Colts Patent Fire-Arms Columbla Gas & El
82)*
Republic Steel
221
61
Revere Cop. & Brass Inc.
141
Columbia 6% "A" pt.
841*
Reynold Tobac. "B"
399
Commercial Credit Co.
454
Richfeld Of
81
up
Com, & Southern (ord)
11
Safeway Stores
4741"
up
Colmonwealth $6 cum. pfd.
Schenley Distillera
137
.02 ON
Consolidated Edison
301
Schenley Distillers $5 pid.
Close
10.09/10
Opening
Closing
Change
Consolidated Cl
7
Seara Roebuck
791
10.15/14
10.12/12
.03" up
Continental Can
41
Shell Unton Oil
12
10.04 N
10.13/13
10.08/08
,04 up
Continental Oil
23
Socony-Vacuura Ofl
121
9.84/86
9.88/87
9.87/87
.03 "up
Corn Products
631
Southern Pacific
15
9.69/59
9.62/61
0.56/58
03 off
Curtiss Wright (C)
10
Southern Rly $5 pfd.
33
9.27/27
9.33/31
9.23/24
.04' off
Curtiss Wright "A"
287
Sperry
421
9.48 N
9.48b/54
9.43 N
.05 off
Deere & Co.
201
Spicer Man.ufacturing Co.
291*
8.92/92
8.95/93.
unquoted
B.82/84 unquoted
10 of
Distillers Corpn. Seagrams
18
Standard Brands
51
Douglas Aircraft
74
Stand Gas & Elec.
2
10.28 N
Du Pont de Nemas
177
Standard Oll of California
257
Eagle Picher Lead
12.
Standard Oll of N.J.
447
Enton Mfg. Co..
233
Stone & Webster ...
111
Elec. Autolite
37L
Studebaker Com,
81
Elec. Bond & Share
72
Swift International
20.03b/05a
19.95/95
.08.off
Elec. Bond & Share $5 pf.
59
Technicolor
124
18.79/19 16.09b.
15.62/65
17 of
Elec. Bond & Share $8 pt.
864
Texas Corpn."
444
18.23b/25a 18.20/20
18,10 N
13 off
Elec. Power & Light $7 pí.
Tezes Gulf Sulphur
331
17.85b/90 17,80/80 17.65b
17,75b/80a
.10 off
Flintkote
21
Trans-America Co.
61
17.60 N
:05 off
Gen. American Trans. ......
544
20th Cent. Fox.
123
Note: December rubber, last notice day:-12/27/39, Total Sales for the day:-620 tons.
Gen. Electric
383
20th Cent, Fox. 81† pí.
Profite
2,853,938.01
Gen. Motors
523
Union Carbide & Carbon
86
Gen. Raliway Signal
18.
Union Pacific
98
close sellers were quoted at 4.17/32 CHICAGO WHEAT for Spot. U.S.$ opened with sell- December ers at 73/16 for Spot and towards
Gen Tire & Rubber
22
United Aircraft
4331
93/931
931/93+
up
Glidden Go,
172
United Airlines Trans. ......
137
May
89%/891
898/891
897/897
up
Goodrich (B.F.)
191
| United Corpn.
21
"
the close sellers were quoted at 7.3/8 for Spot.
July
85#/861
861/861
871/87
I up Goodrich $5 pt.
04
United Corpn. 3 cum. pt. 38)
Saturday's sales:-18,948,000 bushels.
Goodyear Tire & Co.
237
United Gas Corpn.
17
Li Koon Chan, Esq.
Great Northern Iron Ore ...
18.
United Gas Improvement
14
The
Afternoon Market
market was quiet in the December
CHICAGO CORN
Great Northern Rly, pid.
261
US., Industrual Alcohol.
211*
521/521
531/531
up Great Western Sugar
281
US. Rubber
377
afternoon.
Sterling
May July
541/541 * 533/541
549/543
up Greyhound Corpn
18)
US. Rubber 38 píd, ...!.
111
548/541
549/541
...up
"The market
at
End
closed with sellers 1/2.31/32 December/January March / April, 1 / 2.15 / 16 buyers at 1/3 Cash and 1/2.31/92 May March.
WINNIPEG WHEAT December
Hercules Powder Co. Homestake Mining International Harvester
87
US. Steel
66
573
Vanadium
32
507
Walworth Co.
51
-AMOJ
75/751
вотъ
801/80
July
814b
761/761 801b 812/817
up" Int. Nickel ........
37+
Warner Bros. Pict.
Batar's
34
Boubey
up Int. Tel & Tel up Johns-Manville
......
41
Westinghouse Elec.
1081
Untentia
Haiphong
75
Woodward Iron Cor.
241*
E.S. Dollars
NEW YORK HIDES
J. & Laughlin Steel $7 più. 673* Kennecott Copper
and
14.88/70 14.70/70 14.99/15.00 New York, Official unquoted NY-London Cross Rate 3.90-1/4
14.66/88
.02 off
15.01/01
14.94/94
.05. OF
34-3/4
3,89-7/8
1939
Shanghai Dollars
156.99 121.44 30 Industria),
35.90 2414 20 Rail
97.07 20.70 20: Utilizes
22.22 84.51 40 Bonda
The market closed with sellers at 24.1/4 Cash, 24.3/18 December March
June
and 24.1/16 January, buyers at 24. 5/16 Cash, 24.1/4 December
241/8 January.
Sellers at 326.
Shanghai Market
Opened it 49/22. Towards the Heavier, Not Crushing,
at
close the market was a shade: easier and closed with sellers for Spot at 4.17/32.
"Shanghai Exchange
Shanghal, Dec. 5 (Reuter).
Official T.T. Rates
London
New York
Japan
India
Paris
Hongkong
Spot
Dec. Jan
Spot
Dec.
,0/4-1/4
6-7/8 29-1/4
23-1/2
3.11
28-1/4
Sellers
Closing Openlig 0/4-7/16 0/4-19/32 0/4-7/16 0/4-19/32 0/4-13/32 704-9/16 U.S. Dollars
$7-3/18 $7-15/32 7-5/32 7-7/18
Jan......." 7-1/32
7-5/16
Market: Quiet but steady,
Merchant Rates
Sterling. 0/4-17/32,
US Dollars. 7-3/8
Silver duty Rate
The Central Bank of China's: rate on London at 10.00 am, today was 1/2-1/2d., unchanged from yesterday.
The Equalisation rate was 24-1/2
mer cent.
11
Taxation In Australia
Heavier taxes but not crushing taxation would be required for the Government's expanded defence programme, said the Prime Minister of Australia (Mr.Menzies),
In meeting the expenditure of £61,000,000 in the first year of the war the general credit facilities of Australia and publicly- subscribed loans would be fully called upon to play their part, he said. A great stimulus to employment would result.
LONDON GOLD
London, Dec. 4 (Reuter). Bar Gold, Fine per oz., 168,
High
INDO-CHINA
STEAM NAVIGATION. COMPANY LTD.
Operating Services for Cargo and Passengers
TO-
An attempt to carry the whole burden of the war out of loans and credit would incur the serious risk of rapidly-rising costs and prices | and some of the other evils of scute inflation, Mr. Menzies said,
Consequently it was necessary to: exercise wise control over as many economic factors as possible. One means of control was undoubtedly- taxation. The Government, how- T.T. on London (Opening Rate)ever, was not looking for crushing 3.90-3/4
New York Exchange
New York, Dec. 4 (Reuter).
India Rupee Paper
Bombay, Dec. 4 (Reuter). Govt 33 per cent, Rupee, 87-12-0.
Calcutta Exchange
Calcutta, Dec. 4 (Reuter). T.T. on Japan, 81-3/8.
taxation,
“We cannot run a war on 'this modern basis without realising that it has to be paid for," he said.
The expenditure for the first year would be well. above £60,000,000, and would excred the expenditure of the first two years of the last war..... € 19,- 000,000 in the first and £42:- 000.0000 in the second
SWATOW, SHANGHAI, TSINGTAU, CHEFOO
and TIENTSIN
KOBE and OSAKA
SINGAPORE, PENANG and CALCUTTA
SANDAKAN
HAIPHONG
All steamers berth alongside.. the Roosevelt Terminal in the French Concession at Shanghai, where passengers and cargo are landed.
For further particulars
plekse apply to
JARDINE MATHESON&Co.,LTD. TELEPHONE ZOYL GENERAL MANAGERS
THE MERCANTILE BANK
OF INDIA, LIMITED :
Head ofco:-15, Gracechurch Street, London, EC.3
Authorised, Capital ..
£5,000,000
Subscribed Capital .. Paid-up Capit
£1,900,000
£1,000,000
Bewerte Fast and East,
་
£1,202,770
BANKERS
The Bank of England and Midland
Bank, Ltd. BRANCHES
Kuala Trengga Kadra
Bew York
Presny
Colombe
Bangkok Ipoh
Bombay
Calcutta
Kuantan
Kandy
Karachi
Rangoon
Onli
Kota Bhar
Shanghai
Hongkong
Dalhi
Bowrals
Kuala Liph E Binta
Koala Layar Singapore
HONG KONG BRANCH:
Every 'description of Banking and · Brokange Enaizens IrazEMBOLAÍ.
Travallern Obaqusa lasted,
TRUSTEE AND EXECUTORSHIP-
WAS UNDERTAKEN. "ÜURRENT: LO00UWTS" opened : En. Losel Our- rmer and VIXED DEPOSIES received in. Local, Curtrooy, STERLING ♣ 1.8, DOLLARS on perme that may be sometaisai on AEDĖJORILOR.
D. BENSON,
38
Chase National Bank ... 341* National City Bank
Bankow Honolu Cobe
271*
---bid.
I-ex, div.
DOW JONES AVERAGE
Low Dow Jones Averagos
Dec. 2, High Low Close
148.62
146.79 145.74 148.34
31.78
31.69 31.33 31.53
Change 28 off 23 off
25.11
25.20 24.9% 26.09.02 of
89.35
60.53 45.59 11 Commodity Index 57.56
.. 89.28
07 off 57,67 11 up Business Dope :-480,000 shares
Bankow Mukden Tokyo
New York Tsingtao Peiping "Yokohama
CURRENT
!!
PEIPING
(Peking)
FOREIGN EXCHANGE and General Banking Business transacted.
CURRENT ACOUNTS 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
ACCOUNTS opened in on application. LOCAL CURRENCY and Fixxò DEPOSITA 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
Also up to date SAFE DEPOSIT any of the Agencies and Branches. BOXES in various sizes To LET.
R. A. CAMIDGE. Hong Kong, 25th September, 1939.
Manager.
HONGKONG SAVINGS
BANK
The Business of the above Bank is conducted by the HONGKUNG: & SHANGHAI BANKING COR- PORATION. Rules may be obtain- ed on application.
For the HONGKONG & SHANGBAt
BANKING COLPORATION.
V. M. GRAYBURN,
Chief Manager. Hong Kong, 28th Feb., 1929.
BANK OF EAST ASIA,
LIMITED
Authorised Capital......$10,000,000.00 | Paid-Up Capital,
Beserve and Undivided ·
5,598,600.00
Head Office:-HONG KONG
No. 10 Des Voeux Road, Central,
Board of Directora:
Sir Shouson Chow, Chairman
Li Lan Sang, Esq. P. K. Kwok, Eng, Wong Chu Son, Esq. Wong Tun Tong, Esq. Kan Ying Fo, Esq. Chan Ching Sher, Esq, Fung Ping Wah Eng
Kan Tong Po, Esq., Chist Manager. Li Tse Fong, Esq., Manager,
Branches and Agancias ;-
Pronta Savioca
Blogspers London Bangoon Bourabaya Kanla 5
Balron Bwatow Melbourne Bad Fran- sydney cimo Tintada
Vancouver Semarang Shanghal
Hew York Saattia Paria
Pelping
Every description of Banking and Exchange business transacted. Loans 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 on terms which will be quoted on application.
BATE DEPOSIT Boxte To Ler.
KAN TONG PO,
Ohief Manager.
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 Bources of orde £3.5. $2,900,000,000.
D. M. BIGGAB,
Second Vion Praa
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE
BANK PAID-UP CAPITAL $40,000,000,00 (BRANCHES ALL Oven CHINA) Owing to our numerous Branches in China and connections in the principal Commercial Centres of the World, we are able to extend o our Cliente special facilities for Domestic and. Foreign Banking and Exchange.
'Head Office:-SHANGHAI Hong Kong Branch:
4. QUEEN'S ROAD, C
South China Offices:
CANTON SWATOW SHIUCHOW:
KONGMOON TOISHAN
KINGCHOW
We also handle the issue of Bonds and other Pablic Funds of the Chines Government' both at "Home and Abroad.
SHOU J. CHEN,
Manager.
*
HAIPHONG HAMBURG HANKOW
A NEW YORK
י
Page 10Page 11