MONDAY, FEBRUARY
BANKS
19, 1940.
HONGKONG & SHANGHAI THE CHARTERED BANK OF
BANKING CORPORATION
Authorised Capital. $50,000,000
INDIA, AUSTRALIA
AND CHINA
Issued & Fully Faid-Up 850,000,000 Incorporated by Royal Charter, 1883
Paid-Up Capital £6,500,000 Reserve, Fund
Sourabaya
Haiphong Muar Hamburg (Johore) Tientsin Bankow Mukden Tokyo Harbin New York Tsingtao Cloilo Peiping
Yokohama
CURRENT ACCOUNTS opened in
NEW YORK
(Peking)
TRINGTAO YOKOHAMA
FOREIGN EXCHANGE and General · Banking Business transacted.
CURRENT ACCOUNT# opened and FIXED DEPOSITS received for One Year or aborter periods in Local or Other Currencies at rates' which will be quoted on application.
38-1/2 38-1/2 38-1/2
38-3/8 30-3/8 38-3/8
34-7/8 34-7/8 34-7/8
Buyers 13
Previous close Today's close
Buyers
12-1/2
11-15/16
Markst
On Bangkok:-
On demand.................................... 150 1/4 On Sterling Notes:-
Bank Buying Rate....1/311/16
***** 20 3/4
Bac Silver per os
Market Report
FROM ROZA BHOS. The price for Ready Suver was unchanged at 20.3/4 but the For ward rate dropped. 1/18 to 20. 11/16. Silver advices reported the market as being quiet with a American small business done. Silver was quoted at 34.0/4 for Spot...
The London/New York croes- rale was quoted at 402.1/2 New York/London was quoted at 398-
Quiet,
JULY-SEPT.
OCT.-DEC.
NEW YORK COTTON: There have been some Spot house selling for March and some of the opan interest in March transferred to May. The market was quiet though there was constant domestic and spinner buying on a broader scale. Open interest in May now totals 1,100,000 bales and is expected to exceed 1,250,000 bales. We ex- pect May positions will become increasingly strong when May con- tracts approach maturity.
Better consumption outlook and light NEW YORK RUBBER: offerings at higher prices were today's stimulating influences.
CHICAGO WHEAT: The bullish interpretation of the official Argentine crop estimate was off-set by fears of the release of the government loan wheat which amounts to 137,000,000 bushels and which will mature on April 30.
NEW YORK STOCKS: Previous close, 148.20; Today's close, 148.72; Change, up 52.
NEW YORK COMMODITY MARKET (REUTER'S SERVICE)
Baltimore & Ohio Barber Asphalt Co. Barnsdall Of
Bendix Aviation Bethlehem Steel Bliss & Co.
Boeing Airplane Co.
Case, JÍ.
11-1/4 11
PAGE 10-HONGKONG DAILY PRESS
FINANCE
FOREIGN MARKETS & QUOTATIONS
MONEY AND
EXCHANGE
CLOSING QUOTATIONS
FEBRUARY 17. 1940
On London:-
Telegraphic Transfer, 19 13/16 Bank Bills, on demand 1/2 13 15 Credits 4 months' aight 1.31/8
On Shanghal:—“
On demand 343,
On Singapore:="
On demand
On Japan
52-1/2
On demand ... 103 1/4
On India:
Telegraphic Transfer. 169 1/2
and demand........
On New York:-
Bank, Bills, on demand 21 3/8 Credits, 60 days sight 35
On Batavia:-
On demand
On Paris:-
43 3/8
Bank Bills, on demand 1085 - Credits 4 months' sight 1140
PAYNE & CO.
COMMODITY“ BROKERS
·STOCK · EXCHANGE "BUILDING HONGKONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
SINGAPORE RUBBER
SPOT APRIL-JUNE
JULY-SEPT.
NEW YORK, FEBRUARY 17, 1940. Previous February 17. Closing Opening ClosingChange Buyers Buyers
The market was steady but quiet. LONDON RUBBER
SPOT
APRIL
On Salgon
MAY
On demand
......... 108 14
On Manila:-"
On demand ...
.... 48 3/4
NEW YORK STOCK EXCHANGE
STOCKS
Allied Stores
QUOTATION
(REUTER'S HERVICE)
Last Sale
FEBRUARY 18,1940
STOCKS
Reserve Funda!
Last Sale
Feb 17
Feb. 17
Adama Express Alleghany Steel Co.
གས
Kennecott Copper
561
..$20,000,000
221
Lakey Foundry & Mac. .....
Sterling H.K. Carrenoy Reserve $10,000,000 Reserve Liability of Pro- Reserve Liability of
pristors
£3,000,000 Proprietors
HEAD OFFICE: LONDON:
.£1,000,000 £3,000,000
..N
9
Libbey-Owens-Ford - Glass
501
Head Office:-HONG KONG
Ailis Chalmers.
374
Lockheed Aircraft
30%
Aluminium Ltd.
95
Loew's Inc.
361
Amer. Can
1151
Mack Truck Inc. .....
253
Board of Directors: Hon. Mr. A. L. Shields,
American Cyanam'd. B) Amer. & Foreign Power Amer & Foreign ST pt.
351
Martin, Glen L.
41
Chairman.
10
McKesson & Robbins, pfd. 241*
H. V. Wilkinson, Esq.,
25)
Monsanto Chemical
110
American Gas & Elec.
35)"
| Montgomery, Ward
54
Amer. Locomotive
191
National Aviation
12}"
unch.
Amer. Metals Co.
241*
Nat, Dairy Products
17
Amer. Radiator.....
91
Nat. Distillers
241
D. F. Landalo, Esq.,
Amer. Rolling Mill
151
National Gypsum
111*
Amer. E'ting and Ring Co.
503
National Lead.....
201
K. 8. Morrison, Esqë,
Deputy Chairman.
J. K. Bousfeld, Esq., A. H. Compton, Esq Hon. Mr. 3. H. Dodwell,
G. Miskin, Esq.,.
38, Bishopsgate E.C.2
• Sub-Agencies In London: 117/122, Leadenhall Street, ECL West End Branch: 14/18, Cockspur Street, S.W.1, Manchester Branch: 52, Mosley Street, Manchester, 2.
AGENCIES AND BRANCHES:
HAKAIX
ALOR STAR ANRITHAR BANGIDI
BATAVIA
TONG TONG BANGOON IZOILO
IPOR
PENANG
| Amer, Sugar Refining ̧.
214
Nat, Power & Light......
Hon. Mr. T. E. Pearce,
BOMBAY
Change
| Amer, Tel, & Tel.
171
National Steel Corp.
69
C. O. Robarts, Esq...
Amer. Tobacco "B"
90
National Supply Corp...
9
Amer. Waterworks
10
New York Central
17.
Anaconda Copper
291
Market closed
Niagara Hudson Power
"51
Atchison, T. & 8, Fe
231
N. American Aviation
247
Auburn Motors
14
North American ..Co.
211
Amoy
Branches: Ipoh
Sir Vandeleur M. Grayburn.
Chief Manager.
(CALCUTTA
KLANG
AGENCIES: KOSE
CLIVE STEMET KUALA PALLIN PROB
CANTON
CAWNPORE
£
51
Northern Pacisc
87
Bangkok
Johore
Batavia
Kobe
152
Penang. Rangoon Saigon
"ČEBU«
COLOMBO DELHI
MADRAS MANILA
SAIGON
SEREMBAN
KARACHI
SHANGHAI
SINGAPON
BITIAWAN
BOUBABAYE
LUMPUR
TAIPING
KUCHING
TIENTSIN TONGKAM
(Bbuket)
MADAN S
Owens-Dimals Glass Co.
HAIPHONG
Bombay
Kowloon San
114
Pacific Gas & Elec
HAMBURG
PRIPING
34+
Calcutta
Kuala
817
Pacific Lighting
47+
Canton
Lumpur Shanghai
Fragcisco. KANKÓW
781
Packard Motors
31
Chatoo
London Singapore
14
Paramount Pictures
Colombo
Lyons
24
..
Pennsylvania R.R
221
Dairen Malacca Sungei
Borg-Warner `....
231
Phelps-Dodge
381
Foochow Manila
Bridgeport Brass Corp. Briggs Mfg.
11
Phillips Petroleum
Patani Swatow
391
211
Pittsburg Coke & Iron
Brooklyn-M'hattan Trans.
.190
Public Service of NJ,
Brooklyn-Manhattan $6....
764
Pullman Inc.
Canadian Pacific R'way
5
Pure Oll
691.
Radio Corpn, of Am.
Celanese
297
Reading Company, Com
18
Chesapeake & Ohio Chrysler Corpn.
407
Reading Company, 1st pfd
28"
852
Remington Arms Co., Inc.
+1.
Climax-Molybdenum Co...
301"
Republic Aviation Corp. .....
Colts Patent Fire-Arms...
781
Republic Steel
21
Columbia' Gas & Mec. ..............
Revere Cop. & Brass Inc.
13
Columbia. 6% "A" pt.
Reynold Tobac. "B"
107
Sterling
Feb./May.
There were
1/27/8 sellers at buyers at 1/2.29/32 Cash and 1/2.7/8 July.
U.S. Dollars
Sellers at 24.1/2 first half March, buyers at 24.5/8 Cash and 249/16 frst half March.
"U.S." Dollars
There were sellers at the open- Ing at 358 and at the close sellers were quoted ut 353.
Shangha! Market Opened with. sellers for Sterling at 4.9/64 for Spot and towards the close the market was a shade steadier with sellers at 4.3/18 for Boot.
Shanghai Exchange
Shanghal, Feb. 17 (Reuter).
Official T.T. Rates
New York Cotton, Mar." New York Rubber, Mar. Chicago Wheat, May Chicago Corn, May New York Hides, Mar, NEW YORK COTTON March
1031
Prev. Today's High Low Close Close Change 11.04 11.02 11.03
unch. 19.10 19.03 19.00
1041 102
Commercial Credit Co.
467
Richfeld OU
Com, & Southern (Ord.)
11.
Safeway Stores
50
11.03
19.00
Consolidated Edison
32
Schenley Distillers
124*
.09 up
Consolidated Oil
*
Sears Roebuck
891
1037
off
Continental Can
461
674 58)
561
561
unch.
Continental Oil
241 Shell Union Ol
11
Socony-Vacunum Oil
112
14.35
14:07 14.18 14.07
11 of
Copperweld" Steel
16"
Southern Pacifc
13#
Corn "Products
65
Close
Opening
Closing
Change
Southern Rly $5 pfd.
291
Curtiss Wright (C.)
109
Sperry
451
11.03/03
11.02/02
11.03/03
unch.
Curtiss Wright "A"
29+
Spicer Manufacturing. Co, 317
May July
10.78/78
10:76/78
10.78/76
.02 up
Deere & Co.
211
Standard Brands
ཏྟཱ
10.37/38
10.38/38
10.38/38
.01 up
Distillers Corpm: --Seagrams
191
Stand Gas & Elec.
1#
July (New contract) October
10:52 N
10,55. A
10.55 N
.01 up
Douglas Aircraft
821
Standard Oil of California
241
9.72/14
9.75/75
9.74/74
.02 up
Du Pont de Nemours
1841
Standard Oil of NJ.
441
December (
ས
J.
9.62 N
9.64/64
9.64/64
03 up
Eagle Picher Lead
107
Stone & Webster
101
Hong Kong, 28th Feb., 1939.
January (..)
9.58. N
9.61/61
9.62/62
.04 up Eaton Mfg. Co.
314
Studebaker-Com,
12}
Spot
11.14 N
11.18 N
.04 up Elec. Autolite
381
Swift International
314-
Total sales yesterday:-56,500 bales.
Mec, Bond & Share
74
Technicolor,
.154
19.00/00
18.98b/19.03a 19.09/09
First Notice Day for March Cotton-27/2-Last Notice Day-15/3 Elec. Bond. & Share $6 pf. NEW YORK RUBBER . March
Elec. Bond & Share 15 pr.
58
Texas Corpn.
441
651.
Texes Gulf Sulphur.
BANK OF EAST · ASIA, LIMITED
Elec. Power & Light $7 p.
301
Timken-Axle
May
18.51/53
18.00/61
18.550/59a
July
18.20/25
18.30/32
18.25/30a
.09 up .05 up .05 up
Fisk Rubber
151
Trans-America. Co.
54
Flintkote
197
20th Cent. Fox.
12
Gen. American Trons.
544
20th Cent. Fox, $14 pt.
234"
Authorised Capital......$10,000,000.00 Paid-up Capital .......................... 5,598,600.00 Reserve and Undivided
Profits
1,883,039.01
September
17.95/99
18,07/08
18.02 N
.07 up Gen Electric
381
Union Carbide & Carbon
841
December
17.74. N
17.85 N
פנו 13,
Gef, Motors
531
Union Pacific
931
London
New York
Japan
0/4
6-9/16
21-7/8
Total sales:-1,130 tons.
First Notice Day for March Rubber-28/2-Last Trading Day-27,3 CHICAGO WHEAT
Gen. Railway Bignal
167*
United Aircraft
471
Head Offles:-HONG KONG No. 10 Des Voeux Road, Central,
Gen Tire & Rubber
22
United Airlines Trans
151
Glidden Co
18
United "Corpn.
24
Board of Directora:
India
22-1/8
Goodrich (B.F.)
181
May
Paris
2.94
1
July
Hongkong
20-3/4.
September
1031/1041 103/1021 1013/102 101/1001 1001/1004
2
United Corpn. $3 cum pf.
W
401
Bir Shonson Chow, Chairman
1027/103
i on
Goodrich $5 pt, ...
64*
United Gas Corpn.
17
Li Koon Chan. Ess
Li Lan Sang, Esq.
1001/1001
7 off
Goodyear Tire & Co.
243
United Gas Improvement
P. K. Kwok, Esq.
144
100+/1004
unch.
Great Northern Iron Ore ..
14
Sellers
US., Industrual Alcohol.
214
Opening
Closing
Friday's sales:--23,567,000 bushels
Great Northern Rly, pfd,
24
U.S. Rubber
378
Spot
0/4-5/32
0/4-5/32
Great Western Sugar
271*
CHICAGO CORN
US. Rubber $8 píd.
112
Feb.
0/4-5/32 0/4-9/64
May...........
Mar.
0/4-3/32 0/4-5/64
U.S. Dollars
July
September
561/561 57/57 674/571
587/561
561/561 58 A 57/579.
unch. Greyhound Corpn. ·
161
US. Steel
-581
i up
Hercules Powder Co,
89*
Vanadium
332
סט .
Homestake Mining
561
Walworth Co.
51
Amos
International Harvester
57
|
Warner Bros. Pict.
41
Bombay
8pat
$8-27/32
$6-7/8
WINNIPEG WHEAT
Inf Nlekel
371
Feb.
8-27/32
..
Mar.
6-27/32 6-3/4
May......
July
October
864b
874/873 887B
871/871
881/881 891/894 901B
1 np
Westinghouse Elec,
On locatin
1134
Int, Tel, & Tel
4*.
17 up
Johns Manville
724
1 up
J. & Laughlin Steel 37 pid. 611
Woodward Iron Cor. Chase National Bank National City Bank
244
Habrow
Masalala
35 291*
Peping
11
Shangha
NEW YORK HIDES
March
June
* 14.18/19 * 14.21b/35a
14.46/47
September ......
14.07/08 .11 of 14.52/53 ... 14.37/37: .09 14.73b/75a 14.76b/82a 14.65/85 08 off
hid.
6-23/32
Market:-Uncertain.
Merchant Rates
Sterling, 0/4-1/8,
U.S. Dollars, $8-13/16.
Silver Daty Rate
The Central Bank of China's rate on London at 10a.m. today was 1/2-1/2d.
First notice day for March hides:-28/2/40 last trading day:-- 25/3/40.
New York, Oficiai 34-3/4
The Equalisation rate was 9NY-London Cross Rate 3.96
per cent....
India Rupee Paper
+
Bombay, Feb, 17 (Reuter). Government 31% Rupee, 91-3-0 nominal.
Calcutta Exchange
Calcutta, Feb. 17. (Reuter), T.T. on Japan, 784.
New York Exchange
New York, Feb. 17 (Reuter), TT, on London (Opening Rate), 3.901.
LONDON METALS
EXCHANGE London, Feb. 16 (Reuter).
Ouyers sellers
TIN
Standard, Cash: 240-3/4 241 Standard,
3 months 240-1/2 240-3/4
Standard'
Setment Price Straits
286
unquoted. 3,95-7/8
PROMOTING CHINA'S↑ STOCK EXCHANGER
TEA EXPORT
Mr. Shou Ching-wei, General Manager of the China Tea Com- pany, who recently arrived in the
LONDON, Feb. 18 (Reuter). 8tock Exchange supplies of loan- able funds continued low in borrowers' favour,
Contrary to general expecta
Colony from Chungking to con- tions, discount houses failed to
1930
‚Í—ex, divs.
DOW JONES AVERAGE
Low, Dow Jones Averages Feb. 16,
156,99 141.41 20 Industrialk
35.90 94.14 20° Baža,
148.20 3788
Feb. 18, 1940.
SAVINGS ACCOUNTS also opened in Local Currency and Sterling with interest allowed at rates obtainable LOCAL CURRENCY and FIXED DEPURIT on application. received for one year or shorter The Bank's Head Office in London" periods in Local and other Car undertakes Executor and Trustee rencies on terms which will be business and claims recovery of quoted on application.
British Income Tax overpaid, on
ALBO up to date Bars DePOSIT | terma “which may be ascertained at Roxes in various sizes To La [any of the Agencies and Branches. Hong Kong 11th January, 1940.
"R. A. CAMIDGE,
Manager.
HONGKONG SAVINGS
BANK
The Business of the above Bank is conducted by the HONGKONG & SHANGHAI BANKING COR- PORATION. Rules may be obtain- ed on application.
For the HoNGIONG & SHANGHAI BANKING CORPORATION.
THE CHASE BANK
15, QUEEN'S ROAD, CENTRAL
HEAD OFFICE:"
18, PINE STELST,
- NEW YORK. An American Bank offering com-
plete Foreign Banking Service in the principal Markets of thJUN 7. M. GRAYBURN,
world Chief Manager. Interest Rates on Application.
Wong Chu Son, Esq.
Wong Ina long, 2wq, Kan Ying Po, Bag.
14
SAFE DEPOSIT BOXES
This Bank is. entirely "owned by THE CHASE NATIONAL BAKE, NEW YORK, with Bostrom of orig 1.8.$2,900,000,000,
D. M. BIGGAR
Second Fica 'Pros.
BANK OF CHINA
Specially Chartered by
THE NATIONAL GOVERNMENT
OF CHINA'AB AN INTERNATIONAL EXCHANGE
BANK
Chan Ching Shuk, Esq. Fung Ping. Wah EPAID-UP CAPITAL $40,000,000.00
Kan Tong Po, Esq., Chief Manager. Li Tas Fong, Esq., Manager.
Branches and Agencias :--
Kartos Penang Bingapore Lalog Bangoon Boursdays
Saigon Awaken
Alphony
Kalbonima „Ban Frans Bydowy
ciao Timbiko Magka New York Brita Vancouver
Semarang
(BRANCHES ALL ÖVER ČKIÑA).
Owing to our numerous Ezanches 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.
Head Office:-SHANGHAI Hong Kong Branch:
4, QUEEN'S ROAD, C. South China Offices:
CANTON SWATOW SHIUCHOW
KONGMOON TUISHAN KINGCHOW
Every description of Banking and #Exchange business transacted. Loans -granted on approved securities. ・・
Current Accounts opened in Lodal Currency and Fixed Deposita rê« ceived for one year or shorter High Low Close Change 149.98 148.43 149.73
periods in Local and Foreign Cur- We also handle the issue of Bonds' rencies on terms, which will be and other Públic Funds of the quoted on application.
Chinese Government both at Home and - Abroad.
SHOU J. CHEN,
Manager.**
-31.04 30.93 · 20,94
up
NEIMI
37.70 20.70 90 Utilition
29.99 84.51 40 Bonds
.06, p.
94.92 25.05 $4.94 24.99 .07 up 89.23
65 67-45.59 · 11. Commodity Index 69.72
80.32 .09 up 59.63.19 ́oil·
Business Done -100,000 sharON
Sart Deposit BOXER TÓ LET.
KAN TONG PO,
Chief Manager.
INDO-CHINA
sult with various local circles on obtain their quote of Treasury STEAM NAVIGATION COMPANY LTD.
the export of Chinese tea to Europe Bills at a a better rate than that and America, will shortly return of last week to Chungking to report on the success of his mission here.
The actual average rate was Operating Services for Cargo and Passengera
against £1, and 6d. while the "TO- Beginning with the current year, amount allotted was only £60,-
It is understood, the Chinese Goy000,000 of £65,000,000 offered.
Wall Stread closed steady." ernment has sppointed the China
Tea Company as the sole concern
to undertake teu export,
The capital of the Company, in the meantime, has been increased to $10,000,000 and a number of tea experts will be appointed to
SILVER MARKET
BOMBAY SILVER Bombay, Feb, 17 (Reuter). Market Quiet but' steady, Off-
Indian Mint'.Silver
Important posts with the company. take 50 bars,
In order to facilitate purchase of tea in various producing dia- tricts and to improve its quality, the Company will establish experl- mental stations or plants in a number of tes-producing centres, according to Mr. Wel
"Ready
Mar. 4 Bettlement". Apr. 3 Settlement
SWATOW, SHANGHAI, TSINGTAU, CHEFOO
and TIENTSIN:
KOBE and OSAKA
SINGAPORE, FENANG and CALCUTTA SANDAKAN
HAIPHONG
All steamers berth alongside the Roosevelt Terminal in the French Concussion at Shanghai, where passengers and cargo are landed; a
56-07 54-09
For further particulars
please apply to-
54-13
In addition to Boviet Russia recently received large orders for
DINE I
ENERALI
GERS
which has been the largest tea from both European and TELEPHONEOXIL
customer for China tea, China has American countries, it is learned.
THE KWANGTỤNG · PROVINCIAL
BANK (Inonépmestel in China)
Gederal Banking Facultimi and Financial Agenti to |ộ: Tha Frovincial Government of Kwangtang
Head Office---Skrukwan, kwangthog Provizor,
· Hongkong Branch-Iznan's Bldg, & Chater Bd. Osble Address=“PROVINCIAL” 2629, 9445.
Telephones:**
20112, 20113; 20143, 20181, 91881. BRANCHES THROUGHOUT SOUTH CHINĂ Qorrespondedta in Yew York and London | Paid Up Capital ......" N$10,000,000.
Capital ... N$10,500,000..
Reserve
AUTANG MANLY,
Hooykong Manager.
A Job?
WANT