1940-02-21

FINANCE

Finance and Commerce

International Securities

C.D.

$1420

I.D.

£37

XD.

28/16/18

£35

HONGKONG DAILY PRESS

HONGKONGEBROKER ONS®.

STOCK EXCHANGE

Bayer Bellasa HAINS NOMEN TUESDAY 20.

$1415 C.D.

£88

I.D. £864

$213

$436

$182

$100

***

FEB.

Banks

H.K. Banks

Do. (Col Bag) -

Do. (Long).

£816/16 Chartered Banka

Mercantila Bka. "A"

£19) Mercantile Blu, “09 $78

Bank of East Asia ...

N. C. & B. Bezky ... Insurances

Canton InstrAMOUS

Union IswaraROM...

Underwriters

B.I. Firs

Shipping

ASSOCIATION

Buyers Ballers

#212

$485

****** 190 cta

$181

$100

{Frel.)

Douglasp

10 Bambole

$100. Indo-China

*90

Indo-China (Del}~~

74/4) Shella

UP THE DA

î ji i

Wodas!

****

Waterboat *********

€7.30

$4.80

***

iii

· $8.85

$38

!!!!

838 38/38)

Docks, Wharv65,

Godowns, etc.

102 H.K. & K. Whereas #101

Providants

Brovidenia: (new)

$29.10 H.K. & W. Dooks...

Do. (Dew]

$329 Shanghal Docks 8. $29) New Engineerings B.

Mining

18/0 Kilohe $10

Banbe

$4. Vanesnela Gold Fids 3 cts, Hong Kong Mines

Lands, Hotels and

Bulldogs

H.K. Holah

H.E. Lands ...........

$100 Do. 4% Debeniméne

$30 Shanghai Lands L.

H.K. Realtime

Hamphreys

#101 Chines Estates

Cotton Mills

$36 Rwo. (8.)

$170 Bbai Cotton (15.)

344

Zoong Sings (8.)

$45 Wing On Tartine (8.)

Public Tal

Tramway

$8 Peak Trame (oid)

$17.65

$64

$35

[Peak Trams (new)

$7.00

$571

$20

$26 80 $9 60

Star Ferries

Y'all Ferris

Do. (a)

!!!!

£31 £180 $78

160 ota.

Taken Over By The British

From U.K. Holders

The following are the securities taken over by the British Trea- They are Commen stocks,

aury from United Kingdom holders: unless otherwise stated:

Allied Chemical; Allied Stores; Allis Chalmers: American Can; American Radiator;

American

Steel; American Tobacco; American Tobacco. **B” Stock; Atchison,

Topeka, Aviation Corporation:

$100

$190

Caterpillar Tractor; Cerro Pasco

74/43.

(Capital):

Colgate. Palmolive;

Columbia Gas.

$4.60

$930

$30

18/0 $10 $3

$5.65 $5.76

100%

$4.80

X.D. 874

$361 9179 344 $100

I.D. $17.55

ID.

$64

$25

87.90 $1.90

$263

19.70

21/0

('A" Preferred;

Commercial Credit: Commercial

U.S. Credits

For Finland

Investment; Commonwealth Edison NEUTRALITY ACT

(Capital):

Consolidated Edison;

Continental Oil (Capital); Corn

poration;

Douglas Aircraft (Capital); Du- pont de Nemours;

EFFECT

F.R.B. NOTE SLUMPS

DISCOUNT BELOW NATIONAL DOLLAR

TIENTSIN, Feb. 19

WEDNESDAY, FEBRUARY 21, 1940. -PAGE 9

Thailand's Great Debt

To Chinese Middlemen

There is no ane prepared to pay a greatër tributs than the Financial Adviser does to what the Chinese have done for Siam in carrying out that most necessary function—the bringing together of producer and consumer," states a report just lawned by the Department of Commerce, Bangkok, Thailand.

"It is an indispensable service for which the Siamese them- solves have hitherto shown no great aptitade,” It adds. Middlemen in Thailand are of Chinese

The means of bringing shout such surrender Hea in the proper utilisation of the co- operative movement..

In China nothing has contribut-

Co-

almost exclusively (Renter) nationality. While the Siamese The Federal Reserve Bank cur-Financial Adviser has the fullest rendy stumped in the "Black admiration for the Initative of market” again today, dropping to these middlemen, the report states ed more to the development of discount at 18.1/2 per sent below that "the conclusion is unavoidable branch banking than the the National Dollar.

that the price paid by Thailand operatives and, while there are FLIGHT OF CAPITAL

for the delegation of this essential certain features of the co-operative # With the latter

service has been quoted at

a heavy one, movement in China that would be 3.5/8d., the FRB yuan, which of the resulting profits, has been that the existence of

more especially as the greater vartį triadvisable in Thailand it is clear is not freely convertible valent of 3 1/6d.

into

consistently remitted out of the percentages in large and growing foreign currency, was thus equi

retained country."

amount will call for the provisioni of banking facilities.

National to no.

A GREAT PROBLEM The great problem of Siam, “a remarkably poor country in terms of monetary capital," is to acquire a stock of nationa! wealth in a form in which it

out of which wealth could be is readily usable for the capital needs of the country. The only fund ready to hand,

The heavy discount on the Jap-.. Products Renning Company: Crane

anese sponsored currency, Company; Crown Zellerbach Cor-ter)-Mr. Jesse Jones, the Federal the general flight of capital, in-

WASHINGTON, Feb, 20 (Reu- believed here, was mainly due Loan Administrator, testifying bevolving purchases of fore the House of Representatives Dollar notes with which Banking Committes, said that the quire foreign currency for hoard-: Nentrality Act would prohibit the Ing. Export and Import Bank from of essential commodities is also granting a loan to Finland if Russia should declare war against said to be a contributory factor.

Some small revival of imports built Finland, or if President Roosevelt decides that a state of war exists between them.

General American Transporta tion; H. L. Green and Company; Greyhound Corporation;

Ingersoll Rand and Company; Johns Manville;

Kennecott Copper (Capital); Loew's Incorporated; Louisville and Nashville R. R.:

Montgomery Ward; Norfolk and Western RR.: North American Aviation (Capital); North American Company:

Paramount Pictures, First Pre- ferred. (Capital); J. C. Penny; Phillips Petroleum (Capital); Pure Oil Company; Purity Bakeries;

Radic Corporation; Republic Steel; "B":

CHANCE TO WIN?

Mr. Jones expressed willingness

and to grant additional credits to Fin-

fighting with a chance to win."

so long as she was still

R. J. Reynolds Tobacco, EXTENSION OF

"Safeway Stores; Servel, Incor- INTERCOASTAL

porated; Southern Pacific (Capit SERVICE TO a): Spiegel, Incorporated; Stand-

ard Off (Capital): Sterling Products FAR EAST

Singapore,

Yokokama

Jan

WOULD RATHER FARM THANTM FIGHT

- Having fied from Europe when uples in the margin the Nazis

summoned between the production and the military service in the Siegfried him for NO RENEWAL OF

export values of Siam's main crop. Line, Baron Peter von Klarwill, rice, on which the bulk of the 30, last surviving member of one U.S. - JAPANESE

population depends for its living.

of the oldest European familles, This QUOTA AGREEMENT equivalent to 50 per cent, of the to New Zealand where he intends margin 13 roughly arrived in Melbourne on his way NEW YORK (Haras by Mail), export value, and is at present to become a sheep farmer. between American and Japanese transporter, the miller and the hate the Nazis and all they stand 16-The quota agreement taken by the upcountry buyer, the "I would not fight for Hitler, I hosiery interests limiting imperts broker-almost exclusively Chinese for," he said, "Australia and New of Japanese cotton, rayon, and Any really successful solution in Zealand are very generous giving rayon-cotton during 1937-38 william's favour of the problem can sanctuary "to us Austrians who not be renewed, it was announced only be the result of a long-range were forcibly made Germans.” here.

policy of gradual transition. It

Baron von Karwill traces his an- A satisfactory arrangement has mus:

Inevitably involve the cestry to the old French family of been made, it was stated, whereby surrender by the middlemen of a de Clairville which fled from Paris the Japanese agree voluntarily to considerable part of the high at the time of the French Revolu avoid creating any situation which percentage commission on hand-tion and settled in Vienna. They would again require the American ing the national product which later assumed Austrian nationality industry to take

protectiva they have hitherto claimed as the and became the confidants of the

price of their services.

Hapsburgs

Baron VOR Klarwill's father fought, with the Austrian Imperial Dragoons against the Russians in the last war,

meastires.

AT WORLD FAIR TO BRITISH PAVILION

TREASURY ORDER

REACTIONS ON

STOCK EXCHANGE

He said that he was farming in Jugoslavia when he was called to

LONDON, Feb. 20 (Reuter)-On the German colours. He immediately

(Capital): Swift Company;

Texas, Corporation

WASHINGTON (Havas by Mall) Texas Gulf Sulphur (Capital);

(Capital): The Maritime Commission has Union Carbide (Capital); Union Mall Steamship Co. for extension an application by the Baltimore Pacific R. ; (Capital); United Airlines (Capit- Eastern parts. The new service United Aircraft of its intercoastal service to Far al); United Fruit (Capital); Unit-created by the line will be New ed States Smelting;

York, Westinghouse Airbrake (Capital). Balboa, Acapulco, Los Angeles, San Baltimore, Cristobal,

BE CONTINUED --(Reuter).

NEW YORK, Feb, 20 (Reuter)- Francisco, Manila, Hongkong. The

Manila,

Executive Board Hongkong British Empire Chamber of Com-main topic of conversation was in Italy,

of the the Stock Exchange yesterday the sold his holding and, fed to Genez San Francisco, and merce passed a resolution man- the British Treasury's requisition- Germany soon will have to bäck via the canal to New York mously in favour of the contin- ing of certain dollar securities,

uance of the British Pavilion at Permission was granted for this the New

Gült-edged improved on possibi- York World's Fair lities of re-investment of service for a 6-month period, re- 1940.

to Nazism within her own The market continues quiet but vocable on 60-days notice. The prices are well maintained:-

borders, said Baron von Klar-. funds realised The resolution expresses line will operate four of its five opinion that this is in the interests tention, especially, tobaccos

will Industrials attracted more at-The Vessels on the extended service. of

Austrian people were maintaining British They are the City of Baltimore, of trade, which is

and recovering from thefe disillusion- export iron and steel shares and oils im-ment and were preparing to co- New Port News, of Norfolk, of Los equal

at present of proved. Rhodesians and coppers operate with the Czechs and the Angeles, and of San Francisco.

Importance to other war met with buying interest, Wall Poles to bring about the downfall

Street, was steady.

of Hitler.

H.K. STOCK EXCHANGETM

$19 20

$6.85

$29.20 $21.30

$29.40

$14

Constructions

$1.80 Binore

$9.45 $9.60

Walaons

***

$1001

China Lights (0)

China Lights (New)

Chins Lights Rts. H.E. Electric

Macao Electrics

Sandakan Lights

Talephoton (old)

--Talaphones (DW) 10/6 Traction

19/9 Tractions (prof.)

Industrials

$14.90 Cald., Mang. (Ord.) B.

$12

***

Cald., Macg. (Fred.) 8.

Canton Iose

Cecosla

Hopes numerampasión

Miscellaneou

Dairy Farm (Old)..

Dairy Farm (New).

Ch. B'aumenis

Constructions

$71 Lane Crawforda

50% Ch. G.5% 1925G #Bds.

H.E. Govt. 1% Loans

$96.K. Gork. Big Loss

$19.20

$22.40

$31.20

$7.10

***

(old)

$1.85

(new)

$8.

Nanyang Tobacco $3

BUYERS

HK. Bank, $1415.

80.40

50%

Canton Ins., $212§.

100%

90%

$41

H.K. Wing On

841

N'hai Wing On.....

$10

Lands. $374.

#81

Vibro Piling wo

$0.10

Realties, $43.

14/8

Marumans Inv. (LOR.)

Tramways, $17.53.

4/0

Maramaos Inv. (H.K.)

Wm. Powells

*Bale to Shanghai

Union Ins., $465.

Fire Ins., $182. Douglases, $100.

and Boston,

efforts.

the

spch

contend with armed opposition

Star Ferries, $64.

Yaumati Ferries, $25.

China Lights (N), $8. Electrics, $371.

Macao Electrics, $20.

Telephones (O), $28.80. Watsons, $10. Entertainments, $74.

Humphreys, $74.

Watsons, $9.60.

SALES

China Lights (0), 38.10. Telephones (0), $27.

H.K. Govt. 4% Loan, 100).

HONGKONG

SHAREBROKERS'

ASSOCIATION

Volume Of Business Transacted

on Tuesday, Feb. 20, 1940.

Cements

*200 $22.10

100

22.10

500-

27,00

8.10

67.50

100

19:20

500

200 19.15

*Sales on the 19th. inst. (Món- day).

Kwangtung Wartime Trade

SHIUKWAN, Feb, 20 (Central) The Kwangtung Provincial Goy- ernment has formed a Wartime Trade Administration whose fune- tion is to develop provincial trade, regulate supply and demand, stabilise "commodity prices, DID- mote native products, and fa- cilitate transportation.

Mesere. Chang Ching Jen and

SHOE CO.LTD.

HONGKONG SUPPLIES ALL KINDS OF FOOTWEAR

THE MOST RELIABLE LIQUID INSECTICIDE

GEE, IT'S SWELL.

HOT TO BE BOTHERED WITH

FUES WHILE

| WE EAT!

THAT'S BECAUSE

1 SPRAYED WITH FLY-TOK.1 USE IT BEFORE EVERY MEAL (NOW!

DEMAND THE GENDINE

FLY-TOX

Obtainable at all leading Drag and Department Stores Sole Distributors UNITED TRADERS

HỒNG TRONG

What do

you want ?

If there you wan sell,

anything

buty

Classif.

adverti ment in the “Konz Dá

Prezz

$1.50

for

Insertions.

Lán Hsi-chin arc, respectively, 25 word

director and assistant director of

Hongkong Baily Press CLASSIFIED

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