HONGKONG DAILY PRESS
Finance and Commerce
FINANCIAL NIGHTMARE
OF NANKING PUPPETS
"Finance Ching wat's The growing nightmare of Wang Minister," Chow Fu-hai. is dese ribed by Mr. Tan Hsl-sheng. who exposed Wang's sell-out agreement withį Japan. in signed article just released.
Ah Chow's financial plan. Mr. Tas said, was founded an the ridiculously childish conception of "borrow money, open bank, and issue notes." His sebeme for a "New Central Bank," based entirely on this triple jurgery, was made over a year ago, long before the Nanking puppet regime was inaugurated. and he made its financial chief.
Now
market.
influence
FINANCE
HONGKONG SHARE QUOTATIONS
SHARKEROEIRS' ASSOCIATION
STOCK EXCHANGE
MONEY AND EXCHANGE
Buyers, Beilers Bale Nominal TUESDAY 21.
Bajer Bellard
Salon OF T
#1310).
#1350
£30 £73
CLOSING QUOTATIONS
On London
MAY 21, 1940.
Telegraphic Transfer. 1/3 27/39 Bank Bills, on demand 1/2 27/39 Credits 4 months' sight 1/3 6,32 On Shanghai:-
On demand
On Singapore:-
On demand
for
On Japan:-
On demand
the
this grandiose scheme, delationary policy adopted remains on paper, because while their Issuance, do not command Chow is anxious to borrow. the important Japanese are not at all disposed, or have not the money, to lend.
Chog's plans, furthermore, com pilcated the financial problems in the North. In February last.
On India:-
In Central China, the Chinese Government's legal tender notes On continue to hold their ground, The forcible circulation of the
Telegraphic and demand
New York:—
Transfer.
#
$485
330
$170
$2.3/A
182 3/8
Bank Bills, on demand go Credits, 80 days' sight 20 7/8. Batavia:---
On demand
On Paris:
when It Was rumoured that Japanese military script forced On Wang Ching-wel's regime would nuge quantities of goods to escape issue notes of their Own, the from occupied to unoccupied Federal Reserve Notes in North areas, and tends only to worsen China tumbled to a new low and the economy of the occupied
the tobogganing was checked only places... by frantic denials of these rum- In Shanghai,, the merye centre ours by the Japanese.
kor national finance, the question The total amount of Federal for Wang Ching-wel's Anance Reserve notes issued in the North, juggler is not the issuance of a according to the Tokyo Asahi, has different kind of paper currency now reached $500,000,000. with (but how the new currrency may their circulation strictly "limited be accepted by the Chinese and to a few larger Japanese occupied toretan banks, and here Chow cities and towns, as against the Fu-ha! is up against a definite total amount of $300,000.000 at impasse. legal tender notes th circulation before the Lukouchiao Incident (8) the whole of North China,
INTOLERABLE
PARITY DEMAND
Wang Ching-w! and Chow Fe nai have demanded parity with the Japanese yen for their proposed new currency. But this
....37 1/4
Bank Bille, on demand 1028 Credits 4 months' sight 1143
On Saigon:
On demand
On Manila:--
; ;
193
MAY.
Bank
H.K. Banke
. Do., (Col. Mag)
Do. (Lon. Bag) 19 Chartered Duals
£30 Mercantile Bh. “A”
Mercantile Blu "0" Bank of East Asia i..
219
873
N. C. & N. Banks -
#11
Union · Insu
Insarances
$930 Canton Insursodes ...
85 eta. Underwellnes
¡H.L. Fies
$120 Douglas
Stammbonis
$100 Indo-Chinne
60/0
Indo-Chinaa (Def.)..... Shella
$6.00 Waterbonta
Docks. Wharves, {"Godowns, etc.
$100 H. & K. WhareOO
$4.06 Providente
Provideote (new) ........... H.K. Docks C, RTS...
919 H.K. Docks F. Rta...
WEDNESDAY, MAY 22, 1940. --PAGE
BLACK WHITE
SCOTCH WHISKY
01330
ERO
£78
£301
£191
$74
60 of
$930
$450
$480 | #453
170 cts
$170
Shippler
$190
9113
(Prof.)
$100
$120
30/0
$8.90
8091
34.08
221
819
$6
$38
19/0
$8.50
19.90
14
HONGKONG
SHAREBROKERS
do Rts.
$3
Shanghal Docks.
108 1,3
Mining
10/0
Kailani
$9.85 Basbe
40.
149 3/4
Bank Buying Rate ... 1/4 Bar Silver per ož.
9.6/8
On demand" On Bangkok:~
On demand on Sterling Notes:-
Market Report
FROM ROZA BROS. Silver prices dropped yesterday Ready to the extent of 7/8 for and 5/8 for Forward, the quota-, ons being 22.5/8, and 22.3/8 Suver advices re- respectively. ported
having Speculators 25.
Left to itself, the condition on the Federal Reserve notes is mere wishful thinking to which would rapidly worsen, but ad- the Japanese would never agree: sold to a small extent. The mar ded the possibility of a new nominal parity would be use-ket was steady. American. Sver currency to disturb its tottering less, while actual parity would was quoted at 34.3/4 for Spot. credit, the situation would at merely bring pressure to bear once become intolerable.
Referring to the Hwa sin It seems certain that Chow Fu-York/Lonodn was quoted at 327. bank notes, Mr. Tao pointed har financial legerdemain out that these notes are similar doomed to failure, his pet twins.
and drag the yen down.
The London/New York: cross- rate was quoted at 402.1/2,
13/4.
to the custums gold unit, and a new bank and a new currency. because or the negative being condemned to stillbirth,
ECONOMIC
RECONSTRUCTION.
OF SZECHWAN ·
H.K. STOCK
-- EXCHANGE
MARKET
Steady but quiet.
STERLING
New
There were sellers at 1/2,15/16
for near and forward, buyers at 1/231/32 for any delivery,
U.S. VOLLARS
The market opened with sellers business at 203/8 with small
for June, Enquiries on a moderately exdone later at 20.5/16 tensive scale came into the The market closed at 1 p.m. with day. Some sellers at 20.3/8 May and 20.5/16 comprenensive programme market during the the economic
reconstruction bargains were acquired but at the June, buyers at 20.1/2 Cash and of Szechwan has been approved close scrip was not quite so plen- 20.7/16 June.
Generalissimo Chiang Kai-tul
for
Dy
shek, concurrently governor DK Szechwan and wilt be carried out from the current year, says "Cen- ! tral News.
To take charge of the huge task ¦ of directing.. co-ordinating and examining the various branches of the programme, a Szechwan Provincial Economic Reconstruc- tion Commission will be formed, while the actual work will be done by the provincial governinent, the department of reconstruction, and a Szechwan Sikang Development Company to be formed with joms government and private capital.
BUYERS
HK, banks, $1310. Unions In's, $445 China Lights (Old), $6.90. H.K. Govt 4% Loan. 102!”
SELLERS
Docks Rta $6.20.
SALES Unions Ins, $455, Docks Ex Rts, $19. Lands, $34. Humphreys, $8.
Trams, $104.
China Lights (Old), $6.90.
SHANGHAI DOLLARS Bellers at 356.
SHANGHAI MARKET
+
Sellers at 45/32 for Spot and US. Dollars at 5.5/8 for Spot.
MARKET
Quiet,
LI
STERLING
**
E
Vaterala Gold Fide
6 cta Hong Kong Mine.
Lands, Hotels and
Buildings
84.36 H.K. Hotels
B.K. Lands.........B. $10 Do, 4% Debenštras $19.80 Bbangbai
$4.50 H.K. Realti
$35
www
THE
"STANDARD"
OF QUALITY EVERYWHERE
NO TWO WAYS ABOUT IT,
IT'S THE SCOTCH.
WEATHER REPORT Hongkong Royal Observatory
10 a.m., May 21
ASSOCIATION Barometer (at sea level), 29.73 ina.
Temperature, 72 F
Humidity. 46 per cent. Wind Direction, E/N
(01 -100 $ 7.00 Wind Force Beaufort), "6.
Temperature: maximum yesterday,
79 F. Temperature: minimum last night,
89 F.
60.DU
500 16.25
".
Rainfall for 24 hrs. ending 10th
today, 1.85 ina
25.83 in.s.
2001
16.25 Total rainfall since January 1st 500 16.25 16:35
Against an average of, -17.86 ins.“
Sunrise tomorrow. 5.41 m.
34
$35
$100
Volume Of Basiness Transacted
Lands
$4,20
on Tuesday, May 21, 1940.
Humphrey, ALERT
87.00
#1044
Chinese Fatados
China Lights
Cotton-Milla
843) Bw. (8.)
$60
Dairy Farms
8:10 8'hai Cottons (8.) ...
$230
Zoong Sing (189.) ....
600 6.00 200 20.00 100 20.00 200 20.25
Wing On Tartiles (8.)
$120
H.K. Electrics
100
Pabllo Etilities
HK. Tramways
317
$16.3090
日
Post Trams (wow)
+
$4
$50 $2,85
Star Ferries
$59
'mati Ferries
$22.56
Do. (new)
$7
$7.30
Chins Lights (0)
$4
China Lights Rts.
China Lights (New)
861
201
Beet $10.90 22/6
Tramways (sassinskadene
$8 Peak Truma (old) ...
+
81
826
1
H.K.. Electrics tra
$21.10 Macao Rieckics
Sandakan Lights ...... Telephones (ok)
810.20 Talaphones (new)
Tractions
Trastions; (prof.)
Industrials.
$14.90 Cald., Mucg. (Ord.) 8..
812
Cald., Macg. (Fref.) 8.
$1
Canton Ton comme
#17
Camania
B
8201
་་་
Bepin
Miscelaneous
Dairy Farm...
Dairy Farm...
تابو
500
100 16.25
Sunset tonight, 6.59 pm.
100 18.25
600 1,100
16.25 16.25
2.500 16.25
4 p.m., May 21, Barometer (at sea level), 29.59 ins. Temperature, 73°F.
7.300"
31 818.80
$1.88
The total value is $119,325 00,
NO WORRY ABOUT FOOD SUPPLIES LONDON, May 21 (Reuter)— Lord Woolton, the Minister of Food, states that he is satisfied that his organisation will be able! to deal with the distribution of food supplies even the event of an air attack on any part of the country.
Humidity, 83 per cent Wind Direction, 3
Wind Force (Beaufort), 4.- Maximum, temperature, 77 F. Minimum temperature. 69 F. Rainfall, nik
HONG KONG TIDE TABLE From 22 to 28 May 1940.
HIGH WATER.
a Rong
Kong
Standard Time,
Low WATER
Height
Height.
EB
Hong
820
$201
Kong. Standard
Ch. E'tainmente
87
Time
Constructions (old)
Construations (new)
381
Lane Crawforda
381
h. m.
retos b. m.
1st 13.
Nanyang Tobacco....
$3.40
Wed. 29
00 19
74
1245
12 N
$2.60 Sinceros
$2.35
$0
Wakaone
$6 20 $8.40
487 Ch 0.5% 192G gBds.
8102
H.E. Gori. 4% Loans
The invasion of the Low Coun- tries, he sald, bad "cost Britain Thur. 23 48°
some items of food, but they could 102, be obtained elsewhere.
23 08
4 Bi
16 19
to b
09 6A
7114
C2 31
29
17 02.
04
F'ri
24
on 00
4 8
(356
107
H.K. Gart. % Loan
961%
1031
73
17 48.
$30
H.K. Wing On
$39
He has no intention of using his Sat.
35
00 60
44
04 29
seller,
S'hat" Wing Os
814
emergency powers to stop brewing
11 08
713
1831
23
Bał
and For-
11/8
by curtalling the supply of sugar, although there will be cuts. All Mon. 87
Sen.
20
01 44
44
05 OR
3 6
11 41
6. G
19 15
!
02 39
4 3
0549
$1.39
manufacturers will receive not less than 40 per cent. of their e 18 pre-war requirements.
12.16
6.9
2002
&
03 37
44
08 45
1255
20 BR
The market closed with
at 1/2.15/16 for near
ward. buyers at 1/231/32 for any delivery.
U.S. DOLLARS
The market closed with sellers
at 20.3/8 May and 20.5/16
June,
SHANGHAI DOLLARS Sellers probably at 362 for
Spot.
MANILA GOLD SHARES Atoks 14b, Antumax 084b, Bagulo The latter company may estab- Gold 15s. Batong Buhay 008b, Bir lish a number of subsidiary "com-Wedge 14a. Coco Grove 08is Con- pantes to develop particular enter-solidated Mines 0013b, Demonstra prises, the ultimate alm being tion 05s, LX. 28b, Ipo Gold Ubis. ported at 4.3/32 for, Spot, that all private interests will have Itogon Mining 18b, Masbate Con-
SHANGHAI MARKET „ Sellers of Sterling were
||
a chance to Invest their money solidated 070, Mine Operations Shanghai Exchance and so to minimize hoarding. 06b. North Camarines 0235, San speculation, and excess of idle Mauricio 50b, Suyoc Consolidated - Shanghai, May 21 (Reuter).
capital in the whole province.
EIGHT PARTS
The programme is divided into eight main parts including land. agriculture and forestry, industry ard mining.. communications, trade, finance, reclamation and
health.
According to an outline of the
programme, Important achieve
09s. United Paracale 16s, Min- danao Motherlode 06js.
and
ships and junks will be built and additional inter-provincial intra-provincial telegraphic lines
installed..
Official TT. Rates
Opening
London New York Japan India Paris Hongkong
0/3-3/4
5
21-1/4
20-3/4
2.75
Spot with
May
Regarding the promotion of trade, emphasis is placed on the ments have been attained in the
free exchange of goods agricultural development of Sze-
neighbouring provinces and the chwah. With government help, the total benefit reaped by Szechwan maintenance and development of international markets for Bzech- farmers last year was increased- by no less than $10,000,000. Total Van's special products. Hoarding
will be strictly prohibited. credits extended by the govern- The financial network of the ed to $40,000,000, and it is decided province will be pushed, and co- that this year the credits will be operative treasuries will be estab- increased to $100,000,000.
ment last year to farmers amount-i
ished at all Important centres.
25 Bellers
Opening Closing 0/4-9/64 0/4-5/64 0/4-1/80/4-1/16 » 0/3-31/32 0/3-67/64
U.S. Dollars J"
$5-21/32 $5-17/32 5-5/8" 5-15/32 June****
5-3,18
5-7/32 Market-Inclined to be easy,"
June
8pct
May ......
Silver Duty Rate
The Central Bank of China's:
It is revealed that the Central The Szechwan Provincial Bank rate on London at 10 a. today Government since the outbreak
will be strengthened and rural economy improved.
-
..
of the war has invested over $30,- ;
Reclamation work will be start- 000,000 in Szechwan for the gen- eration of electricity for indus-led in the vast undeveloped area
in the east, south and west parts
was 1/2-1/24
The Equalisation rate per cent.
trial and utility purposes. No less than $300,000,000 has been in of the province. Burveying and Calcutta Exchange vested by private interests, includa reclamation parties will be formed
and sent out.
»
ing many industrial enterprises Health promotion will removed from coastal, cities to Szechwan,
be
In the province. It pushed. Health and medical cen- tres established at Important should be the chief aim of the provincial authorities to continue towns and villages will take care of sanitation and prevention of encouraging private investments),
disease while research laboratories and to attain this purpose all as- will be set up to study the pos
sistance and facilities should be extended.
+1
sibility of substituting imported medicine by native products. The
1
FURTHER DÉVELOPED
Communications, railway, high-will be studied.
For carrying out the
way and waterway, should be far-
ין
Was 20
Calcutta, May 20 Reuter). TT. on Japan, 98-6/8.
LONDON GOLD
London, May 20 (Router), Bar Gold. Fine per oz, 168.
problem of the people's nutritionment will apply to the Central Government for authority to float pro-an industrial development loan
against a definite sinking fund.
ther developed. Shallow draft gramme, the provincial govern
Vibro Filing*****
Maramane Int. (L.)
4/Marams Inv. (H.K.)
***
Wm, Powells ...............
·To Shanghai
SHOE CO.LTD
HONGKONG SUPPLIES ALL
KINDS OF
FOOTWEAR
BUTTERICK
Expert Ladies' Tallor
New Style Ready Made Dresses FOR SALE.
16, Wyndham Street, Tel. 23615.
DONT FORGET
THAT WHEN You are at Home you can get the HONG KONG DAILY PRESS at SELFRIDGES.
A
Hongkong Daily
Daily Press CLASSIFIED
ADVERTISEMENTS
AUCTIONEERS
GREATEST COLLLUTION OF BARGAINS IN TOWN; at
LAMMERTS AUCTION ROOM
H L'an, autho Laman et, Brothe
Bad Control. Telephone No. 29221.
Just
Received
Fresh supply of the best varieties of
Reliable and Tested
'Flower and Vegetable Seeds
from
Sutton & Sons Ltd. Reading,' now obtainable at
GRACA & CO. Dealers in Garden Beeds, Postage Stamps, &c. &c.
No. 10, Wyndham Street. Established 1890. Fong Kong.
YOU CAN NOW EAT:-
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 0233 and 34, Granville Road. Phone 59433.
HOTELS
RUSSIAN FOOD COOKED IN THE
RUSSIAN WAY
TABLE D'HOTE $1.00 ALSÓ 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
54 Des Voeur Road C.
EAT AT
Jimmy's
TEA DANCE DAILY
€3 TO 7.30 PM
MUSIC BY THE METROPOLE SWING BAND
Telephone 24311.
ENGRAVERS
FEI FEI & CO. Photo Engravers 18, Cochrane Street. Telephone No. 22224,,