HONGKONG DAILY--PRESS
HONGKONG SHARE QUOTATIONS
STOCK, EXCHANGE
Buyer Sellers
SHAREBROK RF ASSOCIATION
FEB.
Bajor Baller
SATURDAY 24.|| Nominal
1468
01455
£28
£90
Banke:
H.K. Banky
Do. (Col. Bag)
Do (Loa. Mag.).
Chartered Banku ..... £31 Mercantile Kka. “AZ 218 Marcantile Bis, 105 $78 Bank of Bars Asia ... X. C. & &. Baska'.......
*Insurances
81456
£18
63
£31
| 613-J $79 160 ats
€225
$480
$180
Canton Insurnaces ... Union InsurANOEM ... Underwritor
MA
$290
$475
im 90 ota
8185
$188
H.K. Pires gais
$135
Shipping
$100
**:*::
NEW
Donglades
$100
$10
Steamboats
mak
$10
$100 Indo-Chin
(Prot.)
$80
Indo-Chinas (Dqf}.....
$100 $120
-79/1† Shells
78/9
Waterboate
$7.40
Docks, Wharves,
"Godowns, sta.
#101 H.K. K. Wharvo
$101
43/80
Provident
$4.80
[Providanim (DOW)
#231
..Do, (new)
***
***
H.K. & W. Dooks... #234
#441 Bhanghai Dooks &
19/
New Enginewings 1.
Kallana
Mining
$10 Raubenjam
***
$10
$4′′. | Venezzela Gold Tida | #3}
3 ota, Hong Kong Kinas ...
Lands, Hotels and
Buildingo
23/93
I gi
80/4.83
#34
iiii
$38
$30
85.70 13238
H.K. Hotels.....
H.. Lands
$100 Do. 4% Debonkurs
$18.00 Bhanghai Landa U
H.K. Zaalties .....................
આ $7.70
$7.70
$101
Chinese Estates
Humphraye
Cotton Mils
$391 Ew. (8.)
OUTDO
#170 5'hal Cottons (1) ...
!11!
35.85 $51 #381
$5.70
38/38
$4.70
$44 Zoong Sings (8.)
**
$46
Wing On Tartins (8.) Public Utilities
$100
$17.70
$17.70
Tramwaya
#171
$17.80
Pook Trame (ald) ...
น
Peak Trame (NOW) ...
$644
Biar Farrie
$54
$26
#261
I'mati Ferris
$261
Do. (new)
#81
China Lights (0)
$8.20
18:10
$3.15
$68 $70
321
11
Sandakan Lights.....
$30
$31.20 29/301;
Telephones (cbd)
9301
$10
(9.70/10.30
Talaphones (new)
$10
19/6
Tractions
+44
19/9
Tractions (pest.)
Chins Lights (New)
$5.20
China Lights Rt.
62-87-70-69-68 H.K. Blacks....... | #68).
Macao Mootorita anm
68/70
!!!!!!!
Industrials
$16.90 Cald., Macg, (Ord.) B.
$12
19.30/1/194
$1.
|Cald., Macg. (Pref.) 8.
Canton Ins
Comple
$8.10 Bop
Miscellaneous
10g/as
19/-
100%
$7.70
$30
$179 $44
123 11
10/10/26
22,-
8191
יו.
FINANCE
Finance and Commerce
Improvement In Quality:
China's Tea Trade Policy
-DECREASE IN. QUANTITY AND IMPROVEMENT IN QUALITY WILL BE THE KEYNOTE OF CHINA'S POLICY OF TEA TRADE WITH FOREIGN COUNTRIES IN THE CURRENT YEAR, declared Dr. Kinn-wel Shaw, General Manager of the China National Tea Corporation, a government concern with exclusive control over the country's tea industry, in an interview with the Central News today.
Dr. Shaw, who recently arrived į To boost the Chinese tea trade in the colony from Chungking to abroad, Dr. Shaw stated, the consult local business circles on Chins National Tea Corporation the export of Chinese tea to has established branch offices in Europe and America, will return to the wartime capital tomorrow (Sunday).
DECREASE IN ORDERS
London and New York
NEW CENTRES
YANGTZE RIVER NAVIGATION
Latest Japanese Monopoly Plan
CHUNGKING, Fäb. 24 (Cent- rab)—Designed for the mon- opoly of river navigation ̧ÓN the lower Tanrise, the Jap- anese organized China. Steam- ship Company was formally inaugurated in Shanghal re- cently, according to a report from Shanghai
MONDAY, FEBRUARY 26, 1940. —-PAGE 9 FUNCTIONS OF JOINT SINO BANKING OFFICE
ARE EXPLAINED ·
The present high degree of co-ordination, and, co-operation In the regulation of currency and archange and the financing of commercial, industrial and mining enterprises · In wartime China is due to a considerable extent, to the Joint Administra tion Office of the Chinese Government Bank, of which Genera- tissime Chiang Kai-shek the chairman.
Government
On September 8, 1939, the National
pro- mulgated a set of regulations govering the wartime national financial structure. The four government banks, namely, the Central Bank of China, Bank of China, Bank of Communica- tions and Farmers Bank of China were "to form a joint ad- ministration orice with a view to conducting all kinds of bank- ing business relative to the wartime financial policy of the National Government."
||
The
THE DUTIES duties "of the Jont Administration Office, according
The board of directors of the vious month must be made before Joint Administration Office has a the tenth day of each month, Referring to the tea production,
chairman and three executive The adoption of this policy, Dr. Japanese occupation of the tea-consist mainly of cash investment Chiang chairman, "and Dr. H. to its organic law, are as follows:
Dr. Shaw disclosed that with the
directors. The National Govern- The assets of the new Company
ment. Shaw explained, is nécessitated by producing districts in the coastal by the "Reformed Government of Kung, governor of the Central appointed Generalissimo the difficulty in transportation, provinces, new tea-producing cen-Nanking and private Japanese Bank of China, Mr. T. V. Soong, among the possibility of over-production tres have been established in Sze-shipping concerns, as well as the chairman of the board of direc-banks; and the decrease in orders from chwan. Yunnan, Kweichow, Bikong, wharf and godown properties of tors of the Bank of China, and abroad owing to the war in and Kwangst, where cultivation of the China Steamship Navigation Mr. Chien Tung-ming, chairman of the financial network through- Europe.
the product is
The planning and distribution progressing Company which have been forcibly of the board of directors of the out the country:
He said that China's tea expore smoothly. to foreign countries this year is He said that ten produced m expected to be reduced from 1-war-affected provinces Including 000,000 cases to 800,000 cases, and Cheklang. Anhwei, Hunan Hupeh, the product will be carefully grad- Klangst and Fukien can still find ed before being shipped abroad,
their way out to foreign marketa. Soviet Russia, Dr. Shaw reveal- ed, is the principal buyer of Chi- nese tea, consuming chiefly, green, black and brick tea. Africa, especially Morocco, ranks second, while Great Britain and the United States stand third and fourth respectively.
Besides
D.
IMPORTANT MARKETS
these countries. Shaw sald, Chinese tea also finds important markets in Singapore, Saigon, Manila, and other' South Seas cftles where the overseas Chinese are the chief consumers.
H.K. STOCK EXCHANGE
In spite of the short session, a good turnover was recorded at in- proved
prices, principally in Trams $18 Lands $39 Tele- phones (Old) $31 Telphones (New) $11 and Cements @ $192.
BUYERS
HK. Bank, $1455. Canton Ins. $225, Douglases, $100..... Wharves, $101. Docks, $231," Providents, 1.80
Lands. $387.
Humphreys, $7.70.
Realties. $44.
Tramways, $17,90.
Dairy Farm (Old) ...
Dairy Farm (New)
$21.40
#14
Ch. Bizmario man
$7:40
€21.59
#7)
14
Constructiona (old)
$1.88
81
Construction
(Tara)
#7) Lane Crawforda
$8
[Nanyang Tobacco ....
831
81.80 Bincares
$2
Star Ferries, $641.
$9.00
203
Watsons
$9.40
891
Yaumati Ferries, $25.
STOOL
355)
30%. Ch. 0.5% 1925G $84.
$41. H.K. Wing On
181
14/8
4/-"
31
B'bal Wing On ...... Vibro Filing
Margmans Inv. (Lon.)
Maramans Inv. (H.K.)
Wm. Powell *Balm
to Khanghai
*
China Lights (Old), $81..
R.K. Gort, 4% Loans
H.K. Gori. #1% Lona
***
100%
China Lights (New), $5.10.
90%
$41
Macao Electrics, $21.
810
89.10
Sandakan Lights, $31. Telephones (Old), $31.40. Telephones (New), $10 Cements $19.60. ..Ropes, $6,"
Dairy Farms (Old), $22.85.
Dairy Farms (New), 3217.,,
Watsons, $8,
Entertainments, $74.
SELLERS
Electrics, $70.
Watsons, $9.80.
LATVIAN TRADE MISSION LONDON, Feb. 24 (BWS)"}," Discussions on Anglo-Latian trade in war conditions are expected to begin early next week between the British Government and a dele- gation from Latvia who arrived in London this week,
The adjustment of note-issue the four government.
The centralization and utiliza tion of capital funds;
The inspection of note reserves of the four government bank;
The issue of and application for
The Joint extension of loans to and discounts; on its
taken over by the Japanese. Bank of Communications, execu-
Informed quarters reveal that tive directors. the nature of the new arm is The chairman with the 'assis similar to that of the Central tance of the three executive China Railway Company and directors, has general charge of central China Electric Communica-all banking affairs. The Ministry subsidiary notes; tions Corporation, which is to jot Finance has authorized the control and monopolize the entire Joint. "Administration Office communications system in the take the necessary steps lower Yangtze valley.
The approval of remittances to behalf and on behalf of the four and from the inferior and port government banks to cope with cities: Anancial conditions in time of war.
LOW FIGURE
the
govern-
The approval of applications for foreign exchange by importers: wartime productive enterprises;
The joint investment in special-
sources m war time;.
The adjustment of material re-
As is with the case of properties of the Kiangsu, Anhwei and Chekiang telegraph adminis- ment banks continue to perform
Meanwhile, the four tons, the properties of the China separately their respective func- Steam Navigation Company were tions and develop their banking The delegation is headed by M. estimated by the Japanese at the business as specifically provided Charles Zarine, the Latlan low Agure of $2,000,000, at which in their banking charters. Minister in London.
they were taken over.
Every day, the Joint ministration Office and head offices of the
To direct other proper "joint government banks, all located inactivities of the four banks; and Chungking, are required to submit!
In China'
In 1939
U.S. Leads Foreign Trade
The United States occupied first place in China's exports and second place in her imports during 1939,
Ad-
The collection and exchange of gold and silver;
The promotion of special say. the wigs deposit business; four
The auditing, of the budgetary
#
to the Ministry of Finance for estimates and actual settlement official examination, a report onuf receipts and disbursements of receipts and disbursements, the four banks. amount of note issue and interest Under the chainmanship of rate In the money market A Generalissimo Chiang, the Joint monthly statement of assets and Administration Office has pro~~ llabilities at the end of the pre-ceeded to put into effect various important measures regarding China's wartime currency and economy. Among those already in 109,124. Yarn, thread, plaited and force during its first period of knitted goods 92,082 Piece goods aktivities are the promotion of 57.245, Candles oils 53,521, Fuel luans and discounts, the establish- 31.767. Other textile fibres 31,394, ment of financial networks, the Tea 30,385, General sundry list vestment Imports (In N.C. 3'000):-Cereals
1 special wartime. not include the value of commodi- and flour 223,657, Cotton and
58.228.
productive enterprises. ties shipped abroad on barter manufactories
By occupying a large part of thereof
The Joint Administration Office 181,098, China's coastal areas; Japan was has also accomplished much in agreements, such as wood off to Candles soap, olls, fats, America and tea to Russia. If the gums, resins 109.274, Chemicals plying N.C. $313,398,000 worth of domestic remittances, and
waxes, able to lead other nations in sup- encouraging exports, facilitating overseas Chinese remittances and and pharmaceuticals 75,939, Metals goods to the people in the pene-stablikation of commodity prices. the contributions to their homeland-Ores 73,067, Machinery toolstrated territory. The United States It has Nkewise achieved con-
According to the figures just released by the Chinese Mari- time Customs, Chins during the first ten months of 1939 record- ed an adverse trade balance, while in November and December of the same year she managed to export more than she imported. The total amount of imports during 1939 reached N.C. $1,333,653,896, whereas her exports totalled N.C. $1,027,246,508 during the same period.
The export figures, however, do
which amounted to at least $800.- 61,123, Books, Maps, paper, wood takes second place in exporting siderable success in centralizing 000,000 in 1939-are taken into pulp 60,762, Vehicles and vessels NC. $214,100,000 to China in 1939, capital funds and in fostering consideration, China's interna- 45,780, Sugar 52,643, General sun- tional payments actually showed dry list 71,440.
Hongkong, which usually oc- special savings deposits so that cupies first place in China's ex-more money will be available for $'000 ports, is second to the United wartime productive purposes and products States in importing commodities that the wholesome habit of thrift A table of imports and exports 188,436, Textile Abres 173,366, Ores, from China during last year during 1939 follows:-
be cultivated among the people: (CIC)
a handsome favourable balance last year.
Exports (ka N.C. Animals and aritmal
metals, and
metallic products (CIC)
LONDON STOCK EXCHANGE
(REUTER'S SERVICE)
FEB. 25, 1940.
The following quotations are the middia prices at the close of the market in London. All quotations are subject to confirmation and no responsibility is assumed for errors In transmission.
War Loan, 31% (Red
after 1952)
(bearer)
19
SALES
6/0
1/6
Providents, $4.85.
-15
Hotela, $5.70.
Lands, $39.
141 27
Chosen Corporation Pekin Syndicate....... S'hal Elec.. Constr. Co. S'hai Waterworks "A" Union Insurance" Gula" Kalumpong Rubber, 21/10 Allied Ironfounders
14
38/1+
Tramways, $18. Electrics, $884/683.. Sandakan Lights, $31/31. Telephones (New), $11/11, Cements $19.60.
Ropes, $8.
HX. Govt 4% Loan, 1004.
MANILA GOLD SHARES Antoks 18 b. Antamok, 15 b. Bagulo Gold 22. b, Batong Buhay 013's, Big Wedge 201 s, Coco Grove 134 8. Con Mines 0035 s, Demon- stration 12 b, East Mindanao 104 s, East Mindanao 36 s. EXL. 104 b. Ipo Gold 27 s, Itogon Min: 013 b,
SHOE CO.LTD.
HONGKONG SUPPLIES ALL
KINDS OF "
FOOTWEAR
Masbate Con, 10, b, Mind, Mother- THE MOST RELIABLE
lode 10 b. Mine Operation 10 b,LIQUID INSECTICIDE North Camarines,, 09 b, Faracale Gummaus 22 b, San Mauricio 81 s, Burigao Con, 178, Buyoc Con. 138, Syndicate Inv. 024 b, United Para- cale 281 b, Benguet Cor. 5.65 b
HONGKONG
Asso & Elec. Industries
41/6
Austin Motors, ord.
16/9
69-1/16
Canton-Kloon Rly 5%
16
Cable & Wireless, New
Form, ord.
641
Chinese 41% Gold Loan
B.-A. Tob. (bearer)
102/6
1898 (Brit. Ise)
60
Mexican Eagle
121
Chinese 5% Gold Bonds,
Cammell Laird, ord.
8/6
1925-47
50
Mexican Eagle
6/41
Chin. 41% Anglo-French-
Courtaulds
Loan, -1908
50
Distillers
Chinese 5% Crisp Loan.
Dunlop Rubber
69/3 33/101
1912
30
Ger. Electric (England)"
81/6
Chinese $% Reorg, Loan,
1913. (Ldn. 18.)
Guinness (A) Bòn & Co.
74/3
40
Hawker Siddeley Airc....
Chinese "8% Ster. Notes,
1925 (Vickers).
Bristol Aeroplane
12
Imperial Chemical Ind.
Chin. "Imperial Rly, 5%
Imperial Tobacco
14/74 1579 32/10) 122/6
Loan
$5
Marks & Spicer "A" ord.
53/44
Honan Rly, 5%
16
Rolls Royce
Hukuang Rly. 5%, 1911...
10
Leyland Motors
Hukuang Rly. 5%, 1911
Tate Lyle
(German Issue).
17
Turner & Newall .......................
Lung Tsing & U. Hal
United Steel
Rly. 5% 1013
14
S'hal-N'King Rly. 5%
20
Smethwick Drop Forg.... Armstrong Stevens, ord.
87/14 72/6 55th 66/6 24/13 15
Tientsin-Puków. Rly, 5%
Pressed Steel, com
(Brit. Stpd.)
16
Vickers, ord.
Woolworths
16
Anglo-Dutch
16/104 21/3 (65/3-
28/3
A.B. Watson Cements
500 9.60
10019.50
250 19.75
Rub, Plant. Invest. Trust 34/3 Burina Corporation
China' Lights (Old)..." 500
9/3
China Providents ......
Commonwealth⠀⠀⠀ Mining
HK. Electrics
8.30 500 4,00 200 60,00
Marmman Investments Randfontein Estates
14/9
HK Hotels
55)
Western Holdings
34/41 13/3
HK Tramways
7
Sub-Nigel
· 186/3
Tanami Gold. Mining Anglo-Iranian.
ed.
Burmah
55/7 70
HR Telephones (0.)... H.K. Telephones (N.)..
Shell Trand & Trad.
Yaumati Ferries
(bearer)
78/11
Ropes...
Nominal
Tientsin-Pukow Rly, 5%
(German Stpd.) Tientsin-Pukow Rły, 5%
(Brit. Stpd. Supi. Loan) 18 Tientsin-Pukow Rly, 5%
(Ger. Stpd, Bupl, Ican) 18 Jap, 5% Ster. Loan, 1907 | 52 Jep. 6% Bter. Loan, 1924 Ger, 7% Intl.. Loan, 1924 Chartered Bank.....
HK. Ghal Bank (Ldı.
Reg.).
H.K. & Shal Bank (Col.
Neg)
Chinese Bag Mining
SHAREBROKERS'
ASSOCIATION
Volume Of Business Transsctod
on Saturday, Feb. 24, 1940
Itogons
1,500 5.70 800.5,80 500 17.90 500 18.00
800 31.00 500 10:80
500. 11.00
100... 27,00
1,000
8.00
10,000.
157
GEE, IT'S SWELL
• NOT. TO BE BAY BOTHERED WITH FLIES: WHILE WE KAT!
1'SPRAYED WITH › ̈FLY-TOK, LOSg
ST DEFORD
DEMAND THE GENUINE
FLY TOX
Obtainable at all leading Drug and Department Stores Sale Distributors UNITED TRADERS HỒNG 1.0NG
•Hongkong Daily Press CLASSIFIED ADVERTISEMENTS
Jimmy's
UTTERICK_LADIES TAILOR
Winter Sale
Ready made Overcoat and Dresses made to order. No. 18 Wyndham. St. Tel 23615.
Flower Bulbs
Gladioli and Begonia
direct from
Holland
obtainable at
GRACA & Co. Dealers in Garden Seeds. Postage Stamps, Picture Books etc., etc.
No. 10. Wyndham Street...
Hong Kong. Established 1896.
YOU CAN NOW EAT:
MARBLE HALL
(and Annexe Frivate Hotel),, 34, Granville and 103, Austin. Roads, Kowloon, tennis courts & Beautiful garden. Rooms and suites, with private bathrooms, All modern conveniences. Apply proprietress, 103, Austin Road. Phone 50233 and 34, Granville
Road. Phone 59433,.
HOTELS
RUSSIAN FOOD COOKED IN THE
RUSSIAN WAY
TABLE D'HOTE $1.00 ALSO A LA CARTE AT THE
METROPOLE
HOTEL
1940 ZENITH
NEW MODELS Just arrived NO AERIAL, NO GROUND, Just plug in and play CHUEN YEE
454. Der Voeux Road. C.
ENGRAVERS
FEI FEI & CO. Photo Engravere 18, Cochrane Street, Telephone No. 22224;
HONG
TEA DANCE
*DAILY
5 TO 7.30-P.M. MUSIC BY THE METROPOLE SWING BAND
Telephone 24311.
"AUCTIONEERS
FORTASJON BARGAINS IN TOWN
LAMMEET -