37-1/8
36-3/8
35-1/8
The market was quiet but steady: LONDON RUBBER
Previous close Today's close
Buyers *Buyers
11-1/4
11-1/4-
11-5/16
11-1/4.
11-3/16
11-1/8
18.15/15 1800b/05a
18.45b/50a 18.44b/50a 18.41b/43a 18.42b/500 18.45/45 18.12b/22a 18.17/17
18.02b/12a
17.88 B
PAGE 10-HONGKONG DAILY PRESS
FINANCE
FOREIGN MARKETS & QUOTATIONS
BENEFITS OF MIXED LABOUR
"It is
Our
bounder duty as planters to see that the supply of essential commodities. such tea and rubber are maintained without interruption by labour it is with grave troubles, and concern that we learn of such troubles Up country," said Mr. S F. H. Perera in his Presidential
address at the annual meeting of
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING HONGKONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
the Southern Provice Planters SINGAPORK RUDBER
Association held at Galle
Mr.
Perera Was
re-elected SPOT Chairman for the fourth year in APRIL-JUNE succession."
JULY-SEPT.
Moving the adoption of the re port for the year he said that it was futile to lay the whole blame on political adventurers or agita tors who try to gain their ends by creating chaos, or a genuine labour leader who tries to work the in the best interests of labourers to ameliorate their con- dition.
"Unless there is room for disaf- fection and unrest among labour an outsider cannot get hold of a contented labour force. I would appeal to planters Up-country to put their house in order and re- move the causes of disaffection and unrest," he continued.
CHLANGE OF TRADITIONS
"This would involve a change of established traditions th the management of labour and also an increase in the cost of produc- tion.
"I am sure proprietors will not grudge at the present moment an cost in production increased which they should consider in a sense their
contribution to the war in order to see that essential commodities are supplied in suf- felent quantities and regularly.
"I steps are not taken to re-
SPOT APRIL MYA Y JUNE JULY-SEPT. OCT,-DEC."
NEW YORK, MARCH 23. Previous March 23
Closing Opening Closing "Change Buyers Buyers
NEW YORK COTTON: Market closed,
NEW YORK RUBBER: Domestic consumption during the first quarter is estimated at 155,000 tons, only slightly below the record of 158,500 tons in the final 1939 quarter.
A leading ex- still inadequate
CHICAGO WHEAT: The market is easier on its and there is no pronounced pressure or liquidation,
LS pert stresses that moisture in the South-West despite forecast of continued light rains over this week-end.
NEW YORK STOCKS: Previous close, 148.73; Today's close. 146.73: Change, unchanged.
NEW YORK COMMODITY MARKET....
(REUTER'S SERVICE)
New York Cutton, May New York Rubber, May Chicago Wheat, May Chicago Corn, May New York Hides, June
medy matters absentee propric-NEW YORK COTTON
Frey. Today's
Close Close Change
10.59 closed 18,41b 18.45 ".04
High Low
18.45
18.45
1057
105
105
561 58+
501
13.85
13.75
13.77
Close
Opening
Closing
10.59/59
10.37/37
comparison to what will happen July" (New contract)... 10.51 N-
tors should realise that the pre- May
sent trouble will be nothing in July
when the South-West monsoon October
December
flush. and if
January
starts in May and the tea bushes are covered with there are no cooltes the crop will Spot be of the lowest.
..
11
9.90/90
}
9.77/77
9.72 N
18.84 N
CLOSED
1054 1. off ..581
...off 13.76b .01 off
Change
First notice day for cotton:-1/5/40 and last day 22/5/40
"The present trouble Up coun- | NEW YORK RUBBER
to
try
also due
the March
fact that the labour force there May....
is
Indian mostly
Immigrant July labour whereas in our Province. September where the force is a mixed one of
December Statalese and Indians there has absolutely been no trouble so far.
"I hope before long that plan- ters Up-country will also realise the benefits or having a mixed labour force."
Total sales-60 tons. Last trading day:-27/3/40. CHICAGO WHEAT
May July.
September
1051/1051
1037/1031
1021/1024
קט 18,
NEW YORK STOCK EXCHANGE
STOCKS
Adams Express Alleghany Steel Co. Allied Stores ....... Allis Chalmers ...... Aluminium Ltd.
Case, JI................................... Celanese
Consolidated Edison Consolidated Of continental Can" Continental Off
QUOTATION
(KEUTER'S SERVICE)
Elec, Bond & Share ......................
1051/1051 . of 1038/1031 t off 1024/1021
Gen. Railway Signal
Gen. Tire & Rubber
Glidden Co.
Goodrich (B.F)
1051/1051
1032/103
#
ts
MARCH 24, 1940. STOCKS
National Lead
Last Sale
Mar. 23
Last Sale Mar. 23
7**
211*
77"
Libbey-Owens-Ford Lockheed Aircraft Loew's Inc. ........
Glass 501
31+
38
381
Loft Incorperated
33
104
Mack Truck Inc.
· Amer. Can ... American Cyanamid B. Amer, & Foreign. Fower Amer & Foreign $7 pf. American Gas & Elec. Amer. Locomotive .... Amer, Metals Co.
114)
Martin, Glen L
38
McKesson & Robbin's, pfd.
27
117
Monsante Chemical
111
22
Montgomery Ward
533
34%
|National Aviation
141
20*
Nat Dairy Products
171
247
Nat, Distillers
251
Amer. Radiator
BI
National Gypsum
101*
Market closed
Amer. Rolling Mill
144
211
Amer. Sting and Ring Co.
491
Nat, Power & Light
72
G. Miskia, Esq.,
K. Morrison, Esq.,
Amer. Sugar Refining
191
National Steel Corp.
654*
Amer. Tel,
Tel
1711
National Supply Corp.
T. E. Pearce, Esq.,"
81
C. C. Roberts, Esq....
TUESDAY, MARCH 26, 1940.
BANKS
HONGKONG & SHÀNG HAI THẾ CHARTERED BANK OF
INDIA, AUSTRALIA
AND CHINA
Issued & Fully Paid-Up 820,000,000 Incorporated by Royal Charter, 183
BANKING CORPORATION
Authorised Capital....... $50,000,000
Reserve Funds:
Sterling
Reserve Liability of
Proprietors......
Paid Up Capital £6,500,000 Reserva Fund
.....£3,000,000 ...£3,000,000
H.E. Currency Reserve $10,000,000 Reserve Liability of Pro-
prietors.
$90,000,000
Head Office:-HONG KONG
Board of Directors: · H. V. Wilkinson, Esq.,
Chairman. Hon. Mr. J. J. Paterson,
Deputy Chairman.
J. K. Bousfeld, Esq.,. A. H. Compton, Esq., Hon. Mr. S. H. Dodwell,
£3,000,001 HEAD OFFICE; LONDON:
38, Bishopsgate E.0.3 Sub-Agencies In London: 117/12, Leadenhall Street, E.0.3. West End Branch:
14/16, Cockspur Street, S.W.1. Manchester Branch: 52, Mosley Street, Manchester,.
AGENCIES AND, BRANCHES:
ALOR STAR AMRITSAR BANQIDI
BATAVIA BOMBAY
HARDIN
PENANG EONG KONG BANGGON ILOILO ІРОД
SAIGON
BEREMBAN
Amer. Tobacco "B"
891
New York Central
151
Hon. Mr. A. L. Shields,
CALCUTTA
KARACHI KLANG
<HANGHAL
SINGAPORE
Change
Amer. Waterworks
91
Niagara Hudson Power
5
Anaconda Copper
23
N. American Aviation
24+
Sir Vandeleur M. Grayburn,
AGENCIES: KOSE
BITIAWAN
CLITE STREE
Atchison, T. & 8, Te.
217.
North American Co.
21
Chief Manager. Fa Pict
KUALA
SOU RABATA
CANTON
LUMPUR
Market closed
Auburn Motora
14
Northern Paciâc
74
Branches:
CAWNPORE
Baltimore & Ohio
4.
Owens-Illinois Glass Co....
627
СЕВГ
Barber Asphalt Co..
141*
Pacific Gas & Elec
334
Amoy
Johore Rangoon
KUCHING
MADRAB MANILA
TAIPING
TIENTSIN
TONGKAH
COLOMBO
(Bhuket)
Barnsdall Ol
10%
Pacific Lighting
473
Bangkok
Koba
Saigon
DELHI
MEDAN
TSINGTAO.
Batavia
Kowloon Sar
Bendix. Aviation
34
Packard Motors
31
HAIPHONG
NEW YORK
YOKOHAMA
Bombay
Kuala
Bethlehem Steel
Bliss Co.
Boeing Airplane Co.
Borg-Warner
own weight Bridgeport Brass Corp.
Briggs Mfg......
Brooklyn-M'hattan Trans. Brooklyn-Manhattan $6.....
Canadian Pacific Rway-
Chesapeake & Ohio Chrysler Corpn.
Climax-Molybdenum Co. Colts Patent Fire-Arms- Columbia Gas & Elec. Columbla 6% "A" pf. Commercial Credit Co. Com, & Southern (Ord.)
up
Copperweld Steel
Corn Products
Curtiss Wright (C)
Curtiss Wright "A"
Deere & Co
Distillers Corpn. Seagrams
Douglas Aircraft
Du Pont de Nemours
Eagle Picher Leag
Eaton Mfg. Co.
Elec, Autolite
.01
up..
Eles. Bond & Share $5 pf. 594-
.04 up
Mec. Bond & Share $6 pf.
.02 up
Mec. Power & Light $7 pí.
16.06b/10a
Fisk Rubberwoonge
17.90" B
.04" up
Flintkote
Gen, American Trana.......
Gen. Electric
Gen. Motors .......
anch:
Goodrich $5 pf.
May
July
of
وا
to June people September
Thursday's sales:-31.704,000 bushels.
KWANGSI TAXATION CHICAGO CORN
KWEILIN March 25 (Intl)- September
in an epoch-making decree. Gen- WINNIPEG WHEAT Huang
Hsu-chu.
the Kwangsi Provincial Govern- May ment, has required tha, all taxes July
in all counties be reduced by one! half.
This sweeping
measure reduce the burden of the
during the present war of tadce.
Goodyear Tire & Co.
Great Northern Iron Ore ..
561/502
561/563
564/551
off
Great Northern Rly, pfd.
5717571
571/573
of Great Western Sugar .....
$84,581
58/58
off Greyhound Corpa,
Hercules Powder Co,
Homestake Mining
893/891 892/90
October
9028 921B
891b .00/501 *..92}A
» c
International Harvester
of
Int Nickel
unch
Int. Tel. & Tel
NEW YORK HIDES
Johns-Manville
13.77/77 14.03/03
13.75/75 14.00b/04a
resis New York, Official..... 34-3/4
NY-London Cross Rate 3.72
13.76b/78a 14.02/02 Closed 3,71
01 on .01 off
J. & Laughlin Steel 57 pfd.
Kennecott Copper
Lakey Foundry & Mac.
..
"
1939/40
High Law Dow Jones Averages
155.92 131 41 30 Industrials
35 00 24.14 20 Rafs
27.70 20.70 20 Utilities
*92.99. 8451 40 Bonds
י
REDUCTION
Chairman
War Insurance Helps Reconstruction In China
During the two and a half years since its inauguration, the war insurance department of the Central Trust has collected approximately 120,000.000 in premiums on transportation risks alone, according to Mr. Wang Yi-hsuan, deputy director of the organization in Chungking. Since last November, the Central Trast has also been writing land war insurance for all investors and producers in. Free China. Thus far more than $30,000,000 worth or properly at-land-war risk has been underwritten by the Institution with premiums totalling $400,000.
Shortly after the outbreak of
the war, the Chinese Government,
in its effort to encourage produc-
collected, the authorities con- sider the service a successful OMG,
tion and to promote reconstruction. In writing land war insurance.
interests.
DYEING FACTORY IN CHUNGKING
(Cen.
CHUNGKING, March 25 tra)-A dyeing factory, capita- lized a $1,000,000, will be set up industrialists by several Chinese
in the outskirts of Chungking.
The new factory, scheduled to start operations this autumn, 'will have an initial production capa-
city of 100 tons. "of dyestuffs a day.
The
Construction of the plant is aiready proceeding space, Ministry of Economics will
it a subsidy of $500,000,
Patani Swałow Haiphong (Johore) Tientsia Bankow
Tokyo Mukden Barbia New York Tsingtao,
Peiping
Yokohama
Accounts opened in
HANKOW
(Peking)
FOREIGN EXCHANGE and General Hanking Business transacted.
CURRENT Accounts opened and FIXED DEPOSITS received for Ons Year or shorter periods in Local or Other Currencies, at rates which will be quoted on application."
SAVINGS ACCOUNT also opaded in Local Currency and Sterling with interest allowed at rates obtainable on application.
LOCAL CURRENCY and FIXED DEPOSITS
The Bank's Head Office in London received for one year or thortar periods in Local and other Cur-undertakes Executor and Trustva cancies on terms which will be business, and claims recovery of British Income Tax overpaid, on quoted on application.
ALSO up to date Sare DEPOSIT terms which may be ascertained at
any of the Agencies and Branches. Box in various sizes To Ler
R. A. CAMIDGE, Hong Kong, 28th February, 1940,
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 HosGIONO & SHANGHAI BANKING CORPORATION.
V. M. GRAYBURN,
Chief Manager.
BANK OF EAST ASIA, LIMITED
Authorised Capital.....$10,000,000.00 Paid-Up Capital 5,598,800.00 Reserve and Undivided
Prost
2,883,932.01
Board of Directors:
Bir Shouse Chow, Chairman. -
Wong Tan Tong, Esq.
Li Lan Sang, Bay,
Wong Chu Son, Esq. Kan Ying Po, Bag,
Chan Ching Shok, wi, Fung Plug Wah lag
Kan Tong Po, Beq., Chief Manager. Li T Fong, Esq., Manager.
Branches and Agencies 2—
Bingapore Bourb
Salgina Malbouzas "áca Fran» Sydney
also intein Yagnaka New York Battle
Bear Shanghai
Palping
THE CHASE BANK
18, QUEEN'S ROAD, CENTRAL HEAD OFFICE:
18, PINE STREET,
NEW YORK.
An American Bank offering com- plete Foreign Banking Bervice in the principal Markets of the world.
Interest Rates on Application.
SAFE DEPOSIT BOXES
This Bank is entirely owned by CHASE NATIONAL BANK, THI NEW YORK, with Besouros of ove U.S.$3,000,000,000.
D. M. BIGGAR,
Second Vice Pres
BANK OF CHINA"
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AB AN INTERNATIONAL EXCHANGE
BANK
PAID-UP CAPITAL $40,000,000.00 (BRANCHES ALL OVER CHINA)... Owing to our numerous Branebes in China and connections in the principal Commercial Centres of the World, we are able to extend a our Clients special facilities' for Domestic and Foreign Banking and Exchange.
Head Oface:-SHANGHAI Hong Kong Branch:
4, QUEEN'S £OAD, C. South China Offices:
Every description of Banking and Exchange business transacted. Loans granted on approved securities.
Current Accounts opened in Local CANTON Currency and Fixed Depositare SWATOW ceived for one year or shorter SHIUCHOW periods in Local and Foreign Cur rencies on terms which will be quoted on application. 105 off 88.83. .15 off SATE DEPOSIT BOXES TO LET.
and Abroad. KAN TONG PO
Chief Manager. Business Done-390,000 shares
48 up .09 off
INDO-CHINA
STEAM NAVIGATION COMPANY LTD.
grant Operating Berrices for Cargo and Passengers
Export groups to co-ordinate
In the rear, ordered the Ministry which also includes air-raid risks, activities have already been set up of Finance to write insurance the Central Trust is extending in nineteen industries including against undue losses for all land another valuable service to China's such varied export commodities as transportation
The reconstruction Many investors and metal windows, electrical machin- ministry, in turn, entrusted this
property owners have already ery, wool, hostery, Jewellery, paint important task to the Central protected themselves against war and varnish, toys and fancy goods, Trust, a subsidiary organ. This risks in different parts of the and pottery--(BW8). step of the government has im-country. These polley holders also mediately won popularity among include number of
a "all shipping concerns, and, today owners who came to "Szechwan very few import and export trade Province from the coast. to or from Free China is not in- sured with the Central Trust,"
Although losses to the Cen-: tral Trust during the period sincethe,
the inception of the system late in 1937 have been" about equal to the premiums
factory
raw materials Climited to those in The scope of the land war the possession of the underwritten. insurances. 11.
factories);
to
(1) stored commodities (limited (3) building materials (limited agricultural, Industrial and to those in the warehouses or in mining products and goods having the possession of the contractors avalua in international trade); and engineers during construc-,
(2) productive instruments and tion-(CIC).
TO
SWATOW, SHANGHAI, TSINGTAU, CHEYOO.
and TIENTSIN
KOBE and OSAKA,
BINGAPORE, PENANG and CALCUTTA
BANDAKAN
HAIPHONG
All steamers berth alongside the Boosevelt Terminal in the French Concession at Shanghai, where passengers and cargo are landed,
For further particulars
please apply to
JARDINE MATHESON COT
TELEPHONE SOSIL GENERAL MAN
ERS
KONGMOON TOISHAN
KINGCHOW
We also handle the issue of Bonds and other Public Funds of the Chimes Government both at Home
BHOU J.. CHEN,
Manager.
.*}
THE KWANGTUNG PROVINCIAL
BANK
(Ineneperited in "hiza)
Gessera Basking Paolilled sad Pinancial Agentä se Dis The Provianej Onverament of Ewengtang Head Ooshiakwan, Kwingtung Province Rongtang Boop-Queen's Bldg., & Chuter Bd. Cable Address!PROVINCIAL” 1990, SAL
ww Telephones; ' 20112, 20113, 20143, 20181, 31681 BRANCHES THROUGHOUT. SOUTH CHINA Corrispondral to New York and London Paid Up Capital ...... N$10,000,000. N$10,500,000.
Reserve Capitaj
AUYANG MNLY,
Hongkong Manager.
A Job?
INVM
743
Pan-American Airways
214
Francisco HAMBURG
PLIPING
Calcutta Lumpur Shanghai
141
Paramount Pictures
7+
Canton
London
Singapore
22
Pennsylvania RR.
211
Che foo
Lyons
Sourabaya
221
Phelps-Dodge
361
Colombo
Malacca
Sungei
101
Phillips Petroleum
381
Dairen
Manila
201
Pittsburg Coke & Iron
74*
Foochow
Muar
22
Publia Bervice of N.J.
42
901*
Pullman Inc.
251
41
51
Pure Oil
81
Vinilo
674*
Radio Corpn. of Am
61
Ipoh
Penang
30
Reading Company,
Com
15"
391
Reading Company, 1st pid
25*
CURRENT
851
Remington Arms Co., Inc.
39
Republic Aviation Corp.
51
762
Republic Steel
20
51
Revere Cop. & Brass Inc.
12:
851*
Reynold Tobac. "E"
414
457
Richfeld ON
7
1
Safeway Stores ....
501
301
Schenley Distillers
13+
71
Sears Roebuck
86
47
Shell Union O
104
221
Socony-Vacunum Ofi
114
161
Southern Pacific
12+
591
Southern Rly 35 pfá.
25
101
*Sperry
421
29
Spleer Manufacturing Co.
.341
211
Standard Brands
61
191
Stand Gas & Elec.
11
821
Standard Oil of California
227
188)
Standard Oll of N.J.
431
111
Stone & Webster
91
321"
Studebaker Com
11
381
Swift International
291
Hong Kong, 5th Feb., 1839.
Technicolor
154
Texas Corpo.
451
681
Texes Gulf Sulphur
331
28*
Timken-Axle
24
15
Trans-America Co.
6
191
20th Cent. Fox
521
20th Cent. Fox, $li pt.
381
Union Carbide & Carbon
54"
Unlon Pacific
951
161*
United Aircraft
474
20
United Airlines Trans
20
Head Office:-HONG KONG No. 10 Des Voeux Road, Central.
181*
United Corpn.
181
United Corpn. $3 eum pf. 39"
641*
United Gas Corpn.
11
22
United Gas Improvement
131
13
U.S., Industrual Alcohol.
214
Li Koon Chan, Esq.
"P. K. Kwok, Esq.
24.
US. Rubber
33+
271*
U.S. Rubber $8 pfd..
1147*
181
US. Steel
551
95
Vanadium
33*
50
Vultee Aircraft
54
Walworth Co.
54
35
Warner Bros. Pict.
31
Katarin
Kokoon
London
langoon
4
Westinghouse Elec.
1111
والمالية.
691*
Woodward Tron Cor.
242
57*
Chase National Bank
331**
351
National City Bank
231*
sialphong Henko Monolain Kobe
4.
*-bid.
-ex diỡ
DOW JONES AVERAGE
Mar. 21, 148.73
30.19.
24,20 89.78
Mar 24, 1940, High Low Cires 147.00 146.49 148.73
30,16 30.03 30.10, 94.31 24.18 24.24
Chanee
65.87 45.59 11 Commodity Index 69.58