HONGKONG DAILY PRESS
Finance and Commerce
British Traders Pay Same : Good Year
Dividend As Last Year
Referring the fact that | directors and Messrs Lowe, Bing-
to marie insurance had shown a ham and Matthews and Messrs. considerable increase owing to the Linstead and Davi were war rieks. business, Mr. G. Miskin, appointed suditors presiding at the annual general
נה
DIVIDEND
meeting of the British Traders CANTON INSURANCE Insurance Co. Ltd.. yesterday, added that the outcome of course was quite impossible to forecast, however.
Continuing, he said in part: The Marine Account for
this
1938
has been closed off by the transfer Outstanding Loss reserve to meet subsequent claims, while a sum of £11,250 has been transferred to Profit and Loss Account.
of the sum of £22,817.14.4. to the
The sums of £11,500 and £1,125
Reported
14
CHINA FIRE" INSC. MEETING
of
FINANCE
FUTURE OF INSURANCE BUSINESS UNCERTAIN
Mr. G. Miskin Presides At
"Unions" Meeting
severe
“Underwriters have written a large amount of War Risk, busi- ness outside the Government Scheme, but it is impossible at this time to estimate the probable outcome, since
Josses have already occurred and the future is unpredictable,” said Mr. G. Miskin, chairman of directors of the Union Insurance Society of Canton Ltd., at the Company's annual general meeting yester- day when he commented on the effect of the European War on all Insurance companies,
Exchange, a large amount cash on deposit and current ac- counts and an increase in the We are officially informed that amount of sundry debtors and the General Agents and Consult agency balances, were attributed ing Committee of The Canton In- for the increased figures Over surance Office, Lid.. will. at the last year's working, by the chair- forthcoming meeting of share- man, Mr. G. Miskin, when presid holders, to be held on Wednesday ng at the China Fire Insurance the Company from 1986 until his of a anal dividend of $7 per share. day, when a May 22, recommend the payment Co., Ltd.'s annual meeting yester
recommendation
of
Mr. Miskin opened his address with a brief expression of regret at the death of Mr. Paul. Lander, the company's late general mana- ger who had been associated with
retirement in 1934. From time until his death he member of the Company's London Committee. Reference was also made to the death of the Mei- bourne Manager Mr. G. Beresford
in respect of Working Account the directors to pay a dividend of fog 1938, and the transfer of the $12 per share and a bonus of $8 balance of $629./70.87 to Under- per share being the same as last writing Suspense Account,
They! respectively have been transferred will further recommend that an
year, was approved.
Continuing his address Mr. CairnES. intertm dividend of $5.00 per Miskin said in part:- share be paid in respect of Work-
The 1938 Marine Account has ing Accoun: for 1939. and that been closed off by transferring REINSURANCE FUND
the balance of $1,638,908.44 be the sum of $204,437.24 to the re- Turning to the Balance Sheet, carried forward.
serve for Outstanding" Losses, while a sum of $100,840.34 has been to Profit and Loss
from the Fire and Accident and General Accounts to Profit and Loss Account.
Reinsurance RESERVE BANK OF
round INDIA STATEMENT
Calcutta May 1 (Reuter).
"Apr. 17 Apr. 24
I would draw your attention to the fact that the Fund now stands at ↑ figure or £200,000. the balance over and above that amount har- ing been transferred to Exchangé and Investment Fluctuation Ac- count which now 'stands at a sub- stantin figure of over £40,000.
Your Directors recommend the payment of a Dividend of 73. per share, belrig the same as last year.
transferred Account
part:
that
11
LONDON STOCK
EXCHANGE
(REUTER'S' SERVICE)
London, May 2 „The following quotations are the middle prices at the close of the market in London. All quotations are subject to confirmation and no responsibility is assumed for errors. in transmission.
Chin. 4% Anglo-French
Loan, 1908 Chinese 5% Crisp Loan,
1913 (Lan. Is.) Chinese 5% Reorg. Loan
MANY PROBLEMS Continuing. Mr. Miskin said in War Loan, 34% (Red
after 1952) A general review of 'Underwr't-Canton-K'Icon Rly. 5% Ing conditions during 1939 within Chinese 41% Gold Loan 1898 (Brit. Issue) ..... the time available to те mist
Chinese 5% Gold Bonds. necessarily smit much that has
1925-47 taken place. The early months From the Fire and Accident and provided many problems, but General Accounts the surn's or these sank into insignificance in $83.361.34 and $10.084.03 respec- September when the European tively have also been transferred
War actually broke out, Prior to that your Directors had been con- to Profit and Loss Account.
The increase the amountcerned regarding the Society's Dossible owing to us is accounted for by Marine business and the 5.338 the larger Marine Premium Income effect of unrestricted - Submarine Chin. Imperial Rly. 5%
and Aerial warfare against ship- written.
Loan Your Directors recommend
aping: a like anxiety on the part Honan Rly. 5% Dividend of $12 per share and, a Bonus Dividend of $6 per share, being the same as last year,
The report and accounts having been adopted. Messrs. H. V. WIL kinson and J. Owen Hughes were re elected to the board. Messrs
Notes In circulation (including Notes held in the Bank- Ing' Department)... 25,323 Rupee Coln and Bul-
lion in India
5.396 Gold Coin and Bul-
Hon in India
25,265
The report and
adopted.
accounts were securities (Indian
Govezziment)
4,154
3,835
3,835
11,660 11.850)
4.154
Messrs. H. V. Wilkinson and J. Securities (British Owen Hughes were re-elected Government)
HONGKONG SHARE QUOTATIONS
STOCK EXCHANGE
Bayar Ballora
Sales Nomlan
SHAREBROKERS ...... ASSOCIATION
FRIDAY 3.
MAY.
Bankc
H.K. Banks
81515,
Do. (Col Meg.)
ER2
Do. Loa. leg.) ...
£91
Chartered Banka .....
31
Mercantile Eks, "1"
Bank of East Anla
£12 Mercantile. Eka. **02
87+
$171 $175
$11
$22
$0.60
$30
$4.40
N. C. & 8. Banks
«Insurances
$210 Canton Insurance ...
$195, Usica Insursos,
85 cts Underwriters
H.L Fire
Shipping
$120 Douglas
Btesinbosis
$100 Indo-China
$30
73/9
(Prol.)
Indo-Chinas (Del.)....... Bheila
$0.90 Waterboata -
Docks, Wharves, Godowns, etc.
$100 H.K. & K. WhervHİ
$4.35 Providenta
Providenta (new) .... H.K. Docks C. RTS... 31963 A.K. Docks X. Rts....
do Rts.
385 Shanghal Docks ....
Mining 20/4 Kailan 22.65 Bauba
L
Varerusla Gold Fide cos, Hong Kong Minan
Lands, Hotels and Buildinga
B.E. Hotels
H.F. Lands
Biro Do. 4 Debacteres $16.10 Shanghai Lands 8.
H.K. Bailies
88
Humphreys .............................
$103 Chinese Estate
Cotton Mills
872 81 XD. Ewo. (B.)
***
$250 8hal Coltons (B)
Zoong Blogs (8)
Bayer Ballers
Salem Nominal
$746
81500
£92
£92
£96
£31
£12
150°ct.
$490
$600
70 cta
$175
Lowe, Bingham ~and Matthews and Messrs. Linstead and Davis operated by the Government. It there was to be expected that were, re-appointed auditors.
would be. Initial difficulties in plan of this kind, but these were Continued on Page 11
H.K. STOCK EXCHANGE
The week's business has not been imposing, in fact it is best described as one of the poorest re- corded for some while past. It causes no surprise that the lack of $230 enquires has led to a slight easing
In prices.
HONGKONG
SHAREBROKERS
ASSOCIATION
Volume Of Business Transacted
1912 Chinese 8% Ster. Notes,
1925 (Vickers)
on Friday, May 3, 1940. H.K. Docks X. Rts..... 100 $19.35 Reg) H.K. Electrics
35
ཤྩ་ཡ
ཤྰགཀྰ་
#
SATURDAY, MAY 4, 1940. -PAGE 9
Say BLACK
& WHITE
and
be sure!
NO TWO WAYS ABOUT IT, IT'S THE SCOTCH.
BANK OF ENGLAND
FEDERAL RESERVE SYSTEM
Federal Reserve Ratio
Federal Reserve Orèdit Outstanding. Monetary Gold Stock Undustrial Advance
Apr. 27 (1839) Apr. 25 May 2
(000's omitted)
1,000
2,584,000 2,487,000 2,487.000 85.51% .88.17%. 88.17% 2,580,000 3,501,000 2,500,000 15,714,000 18,708,000 18,771,000 13,291,000 9,918,000 9,333,000
SWEDISH - SOVIET TRADE PACT
PARIS. May 3 (Reuter)-AC- cording to a Stockholm despatch. the economic negotiations which Sweden began with the Soviet are regarded as important..
It is stated in some quarters that the exchanges under, consi- deration would "amount to about six millions sterling and Sweden is anxious receive in exchange for machinery such products as petro- leum. fats and metal, which she can no longer obtain from Ger- many or the Allies.
Sweden is also being solicited by. Germany, and it is stated that en- voys from Berlin, have already reached Stockholm and begun regotiations, apparently alming at soothing the apprehensions of, the Swedish Government and people
1002 15
WEEKLY RETURNS AND
REPORTS
58
London, May 3 (Reuter).
April 25
May 2
2
50
Public Deposits
40,700
19,750
Other Deposits:
Bankers
103,450
125,450
Other Accounts Total
40,560
44,890
144,010
170,340
Government Securities
130,850
138,980
Other Securities:-
Discount & Advance Securities
4,860
3,990
22,610
22,580
Total
27,680
28.610
60
Notes and Caina
44,070
40,310
Total Bullion ....
1,220
1,350
or all Insurance Companies led Hukuang Rly. 5%, 1911... year to Bukuang Rly. 5%. 1911 in the early part of the the formation in London of the
German Issue) War Risk Cargo Pool.
Lung Taing, & U. Hai On the outbreak of War this Rly. 5% 1913 Pool terminated, and was re-s'hal-N'King Rly, 5%... placed, for certain voyages, by Tientaln-Pukow Rly. 5%
(Brit. Stpd.) the War Risks Insurance Oface
Tientsin-Pukow Rly, 5%.
(German Stpd.) aTientsin-Pukow Rly, 5% (Brit. Stpd. Supl. Loan) Tientsin-Pukaw Rly. 5
(Ger. Stpd. Supl. Loán) Jap. 5% Ster. Loan, 1907 Jap. 6% Ster. Loan, 1924 - 52 Ger, 7% Intl. Loan, 1924, BA Chartered Bank
19
Notes in eireniation.
537,160
541,040
Ratio of Reservs to Liabilities
23.85%
Price, of Gold at which holdings are valued 168/
21.20% 168/-
17
I
13
New York, May 2 (Reuter).
21
13
Bills Bought.
0.5. Securities beld
13
13 46
94
H.K. Shai Bank (Lan
Reg.)
92
H.K. & Shal Bank (Cai.
Gen. Electric (England) Guinness (A) San & Co. Hawker Siddeley Airc, ... Bristol Aeroplane Imperial Chemical Ind. Imperial Tobacco Marks & Spicer "A" ord.. 42/9 Rolls Royce
80/44
80/3 13
14/74 31/9
115
85/101
*
92
Leyland Motors
71/3
{bearer)
50 64.50 Chinese Eng. & Mining
I 65.00
<a
Tate & Lyle
53/9
20/41
Turner & Newall
65/44
BUSINESS DONE DURING THE WEEK "
HK. Tramways
$120
811
$100
܃
H.K. Banks, $1,510, $1,515. Union Ins: $500, $495,
H.K. Telephones (N)
200
500 325 10.00
17.40 Chosen Corporation
8/6
United Steel ........
23/9
17.40 Pekin Syndicate
2
Smethwick Drop Forg.
13/9
S'hai dec. Constr. Co.
15
Armstrong Stevens, ord:
6/6
S'hal Waterworki “À”
15
Pressed Steel, com, ....
17/1
500
10.00
8120
Docks Cum Rts.. $214.-
Union Insurance
291
Vickers, ord.
17/9"
Steamboats
100
11.50
73/9
Docks Rts
$6.60
Gula Kalumpong Rubber
18/6
Woolworths
59/6
83.00
200
11.50
Hotels, $41.
| Allied Ironfounders
14
Anglo-Dutch
20/9
Benguet Con,
600 Ps. 5.00
Lands, $363, $36.
San Mauricios
3001
Chinese Estates, $103.
Asso, & Bec, Industries 5.000 Ps. 0.59 Austin Motors, ord.
40/71⁄2
F.
15/6
Rub, Plant Invest. Trust Burma Corporation
28/6
9/3
$1.25 3.4.35
Tramways... $17.55. $174. $17.40,
$17.35.
7.576
8812
$191
China Lights (Old). $8, $7.90.
China Lights (New), $4.90.
$8.60
863
Electrics, $64.80, 354).
Macao Electrics, $21), X.D.
19
20/41
Telephones (Old), Cum.
Div
$10.15
$28.80.
Cements. $17.
Watsons, $9.10.
Dalry Farms, $22.
Ewo Cottons S'hat $701. S'hal
$68.
Govt. 4 per cent. Loan, 102, 103.
Govt. 31 per cent. Loan, 97.
14.35
$4.45
G
Ewo Cottons ID. S'hal $72,61
$100
84.40
87.90
BUYERS
Union Ins., $485.
X.D
TO
H.K. Fire Ins., $131.
8935
Realties. $4.40.
Telephones (New), $10.
Sinceres, $2.30.
Wm. Powell, $1.
Entertainment, $7.10.
SELLERS
H.K. Banks, $1,515.
Cable & Wireless, New
Form, ord. The total value is 329.105.00 and B-A. Tob. (bearer) Ps. 5,950.00.
LONDON GOLD
London. May 2 (Renter).
Bar Gold. Fine per cz.. 168.
SHOE CO.LTD.
HONGKONG SUPPLIES ALL "KINDS" OF FOOTWEAR
Hongkong Daily Press CLASSIFIED ADVERTISEMENTS
MARBLE HALL
(and Annexe Private Hotel), 34, Granville and 103, Austin Roads, Kowloon, tennis courts Beautiful garden. Rooms and sultes with private bathrooms. All modern conveniences. Apply proprietress, 103, Austin Road. Phone 50233 and 34, Granville Road. Phone 59433.
Commonwealth Mining
57"
Marsman Investments ..
105/7
Randfontein Estates'
13/6 41/3.
Mexican Eagle
121
Western Holdings ......
16
Cammell Laird, ord. Mexican Eagle"
7
Sub-Nigel
200
6/41
Tanami Gold Mining
418
Courtaulds
38/4!
Anglo-Iranian
53/9
(bearer)
73/9
Distillers
67
Burman
71/3.
-Nominal
Dunlop Rubber
33
Shell Trans. "Trad.
t-ex-dividend.
Wing On Textiles (8.)
$120
Public Utilities
$17.40
Tramwaya
kamuona
$17.30
88
Peak Tram (old)
$4
Peak Trams (new)
$88
Star Farrine
$25 Y'mali Ferries
ཎྜ::སྒྲོ
.
2251
Do. (new)
$7.90 Chine Lights (0) 3490 China Lights (New)
China Lights Rts.
HK, Fire Ins., $175.
$7.75 $7.00
$4.00
Docks Cum Rts, $23, Electrics. $65.
$04
H.K. Electricm
SALES
##4
| $21.10| -
Macao Blackrice.......
Trams, $17.40.
811
Sandakan Lights.......
$29
Telephone (o)
China Lights (New), $4.80/90.
328
$10
Telephones (new).
Electrics, $844.
$10
Macao Electrics, $21.10.
21/0
!!!
Traction vesiqesia.
Tractions (prod.)
Industrials
| $14.90 Cald., Hùng. (Ord.) 8.
Cald., Macg (Pref.) B.
$12
81
217
Canton Towerkz Cemente
#181
922
#5,65 Ropes teemaaniatem
MiscellaneoZS
Dairy Farm......
Dairy Farm
Ch. Biainment purs
$1.20
$1
Constructions (old)
#1
Constructions
Lane Crawforda
来
Nanyang Tobacco THE
824
$2
89.16
$103
397
|H.E. Govt. #4% Lo
Walacio
Blossom
68% Ch. G.5% 1836G #Bds.
B.K. Gori. 4 Louna
$1.30
#9.15
$30 H.E. Wing On 149; 'hat Wing O
£8 Vibro Piling
13/6 | Marmane Inv. (Lam.)
4/0
Margaon lav. (H.)
Wm. Powell version
Balas
'o Shanghai
i
#=
i
$1
$2180
Telephones (New), $10.
MANILA GOLD SHARES
Atoks 18s, Antamok 11b, Bagule Gold 1816, Batong Buhay 00958, Big Wedge 17s, Coco Grove 089. $5,55 Con. Mines 0925, Demonstration 08s, I.ZL, 30jb. Ipo Gold 0748, Ito- gon Mining 19b, Masbate Con, 08), Mine Operations 071s. North Ga- $1,85 marines 0108, Paracale Gumaus 1518, Ban Mauricio 59b, Surigao Con. 17b, Suyoc Con. 128, United Paracale 2015, Mindanao Mother- lode, 08s.
AUCTIONEERS
GREATEST
COLLECTION OF BARGAINS IN TOWN)
#
LAMMERT'S AUCTION ROGM Lautner, Brotiper 2. feed, that Had Central. Telephone No 20221.
INSURANCES
The National Mutual Life Association of Australasia offers you the best conditions for fund for old age, and your family in case of your death. Annullies and educational policies are Also issued. Insure now.. Offs:-6, Den Fox Bd. Central (5th foor Boom No. 88), Bank of Canton Buiki. ing, Hongkong.
Besident Secretary,
B. B. WELLS. Tel. No. 473. BROKERS LOANS. New York, Apr. 25 (Reuter).. The Chinese Ratepayers 48- Loan on securities to brokeri in sociation hag elected Mr. Yulin New York:--- ***
*Week-ended.
620%
102 Deix
12B
$14
$81
i
- #
I.
Municipal Council,
Hsi 25 one of two Chinese representatives to the Economic Week-ended
Week-ended Committee of. the Shanghai Apr. 27 (1939) Apr. 25.
May 2 $547,000,000 $480,000,000 $476,000,000
ཌ
BUTTERICK
Expert.. Ladies' Tailor
(YOU CAN NOW EAT:-
HOTELS
New Style Ready Made Dresses RUSSIAN FOOD COOKED IN THE
*FOR SALE.
16, Wyndhamn Street, Tel. 23615.
POSTAGE STAMP. CATALOGUES 1940.
Stanley Gibbons
Whole World
$16.00
1st Fart. British Empire $6.50 2nd Part. Foreign Countries $10.00 Simplified
$5.00
Scott Stamp &
Coin Coi... 312.00 Yvert & Tellier $11.00 GRACA & CO. Dealers in Postage Stamps," Garden Beeds, Picture Books, etc. No. 10, Wyndham Street, Established 1896. Hong Kong.
RUSSIAN WAX 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 - HONG -
si Des Voeux Road U.
EAT A
TEA DANCE DALY
5 TO 130 P.M.
MUSIC BY THE, METROPOLE SWING BAND
Telephone, 24311.
ENGRAVERS
FEI FEI & CO. Photo Engravers
18, Cochrane Street Telephone No. 22224,