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HONGKONG DAILY PRESS
HONGKONG SHARE QUOTATIONS
STOCK EXCHANGE
SHAREBKOKERS' ASSOCIATION
WED.. $2. Nomic.
MAY..
Banks
H.K. Banka
Do. (Cal. Bag.)
Do. (Lou. Reg.)
Chartered Banki
£30 Mercantile Bk. "1"
Mercantile Bha. “O
Bank of Barn Anis ...
N. C. & B. Banka ....... Insurances
$930 Canton Iomoricode
Union InsuraDOSS
(85. cts Underwriters
$1310
EATH
*!!!
$6.90
Mi
$170
8455
FALF
Esl
£19
$73
$11
$100 Todo-Chin
A
8930
וק
..
FINANCE & GENERAL
Finance and Commerce
CHINA INSURANCE CO., LTD. Ten Thousand
HOLD. ANNUAL MEETING
The 59th Ordinary Meeting of the Canton Insurance Office Ltd. was held yesterday, Mr. T. E. Pearce was in the chair, owing to the Indisposition of the Hon. Mr. J. J. Paterson, chairman of the Consulting Committee,
Those present were Sr. D. E. Clark, Mr. A. II. Compton, the Hon. Mr. M. K. Lo, Mr. J. H. Taggart (Directors) and Mr. F. C. Hal] (Secre- tary) and the following shareholders:-Messrs. Ho Kam-tong. D. Hang, M. H. Lu, D. V. Stevenson, S. H. Ross, D. L. Newbiggin, J. Fleming, Lo Cheung-lp' and C. B. Brown.
War Planes
For U.S.
WASHINGTON. May 22 (Reu-) ter-Naval air strength of not less than 10,000 planes and 16,000 pilots was proposed in a legisla- tion introduced by the chalamen of the Naval Committees of the Before presenting the report, Mr. | has fallen by HK$1,358,571.78 or Senate and the House of Repre Pearce expressed regres for Mr. £84.203.2:11. as expressed inį sentatives, respectively. This act- Paterson's absence owing to Indis-sterling; this contraction, as ex-lon was taken after a conference and President Roosevelt position and wished the chairman plained by the chairman last year, with n speedy recovery.
is due very largely to the loss sus-ranking admirals tained on our holdings of Shang- In a joint statement the chair- hal Mortgages and Debentures. men, Senator Walsh, and Repre- |which still continues both as re-sentative Vinson, declared
that! The statement of accounts for cards market price, and exchange. the President proposed to the year 1938, watch we now pre-and also to London claims attach- $100.000.000
naval avin tion") sent to you, is I am pleased to saying to carller years which have made facilities and personnel Legisla
severe Inroads, Into the Underwrit-tion would also be introduced re- appreciable improvement on that for 1937, the balance
Suspense Account. of g
am questing an additional $125.000,-.) $1,22807007 being better by $316,- pleased to say that the position in 000 for the establishment ano 308.24 and this despite the fact the latter respect has now been development of naval aviation that income from Premium and almost entirely liquidated. Interest fell by over $636.000..
The Reinsurance Fand remains Both Committee struck at fifth
CIENCI
81310
£1 £781
£30
374
50 ct.
[B.X. Pires
$4374
$170
70 cts
Shipping
$120 | Doaglama
kemas`
$120
Brembou
8111
(Prof.)
$100
680
Indo Chinas (Del.)...
$190
69/0
Shells
60/0
CHAIRMAN SPEECH.
86.90"
Presenting the annual report,
Mr. Pearce ́sald:-
8004 24
Provideola (sw). .-.-'
$21
H.K. Docks C, RTS...
$201
an
$18
H.K. Pocks X. Rt.....
81
$8.20
do Rts.
86
$31
Mining
10/0
Kailas $0.45 Raube
•19/0
$0.00
6 cte, Hong Kong Mam...
Lands, Hotels and
Buildings
$4.35 F.K. Botel
K
234
H.K. Landa .........8.
$341
$10.4% Debate
8100
110,20 Shanghai
Lands
14.20 87.00
28
$8.00 | Waterboats
Docks. Wharves,
Godowns, etc.
100 H.K, & K. WhareOR
$4.05 Prnsidenta “
831 Shanghai Docks 8.
Venezuela Gold Fide
84.20 H:K. Bealine
Humphreys
#1044 Chinese Estaten......
Cotton Mills
811 Ewo (8.)
8210 8'bet Cottons (8.)..
Zoong Sings (8.) .... Wing On Textiles (8.)
Public Utilities
81
Trazoways .............
$16.
28
{Pask Trams (old) ...
$4
}Peak Tramm (new)
Do.
China
$210
$120.
$16.28
น
$24.80
561
1.
7/6.90
(0)
-841
$60
B2FL
$10.20
22/6
$6.20
$60
330 Star Parrie.......
82285 T'mati Ferries
China
China Lights Rs.
H.K. Electrics.........
821.10 Macao Bleckios"......
$11 Sandakan Lights .... Ben Telephone" (old) ...... 31050 Telephone (Dew).
Tractiona
Tractions (proč.) Industrials
814.90) Cald., Kaog. (Ord.) 8.
IF
$12
Cald., Macg. (Fref.) B
81
Canion Tow
Camembe
#17
251Bop.......
Miscellaneous
820Dairy Farm...
Dairy Farin...
Constructiona
31 $15.80
$20/20
[Ch." "P'isinmanŠE
82
$17
$1.85
$1
Constructions
Lane Crawfords
$8
Nanyang Toba000
**83,40 |
$2.60 |Binoeres
$6
Wstaopa
38.40
48°
102
48. Ch. G.5% 1995G #Bds.
H.K. Gors. 4% Loans
107
H.E. Govt. Six Lena
830
H.K. Wing O
4
B'Gai. King Da
#8
Vibro Piling -
11/5 Marsman Irve, (Lon.)
4/9 Maramana Inv. (E.K.)
$1.30 Wm. Powells
Baloo Shanghai
LONDON STOCK EXCHANGE
(REUTER'S SERVICE)-
London, May 21.
The following quotations are the
middle prices at the close of the
market in London.
(bearer)
Chosen Corporation
Pekin Syndicate
19
2
All quotations Shal Elec. Constr. Co... 15
are subject to confirmation and no
Shal Waterworks "A"
Union Insurance
15
28
82.35
:
I
FINAL DIVIDEND All Investment and Mortgage
We now recommend
bases.
for
H.K. STOCK EXCHANGE
The market was inactive.
BUYERS
HK, Banks $1,310
SELLERS Docks Rts, $6.20,
SALES
H.K. Banks $1,315.
use
dismiss
h
A comparison of ratios between at approximately the same figure Column activities .. particularly the two years reveals losses atas last year, while the Investment approving measures to 54.97 per cent, for 1998 as against and Exchange Fluctuation Account suspected workers and soldiers." 69.63 per cent. for 1937, while the und Underwriting Suspense Ac- rise to 30.20 per cent. from 26.43 count reveal decreases of $601,- per cent. in respect of Charges is 811.82 and $803,773.00 respectively. but the natural sequence to the drop in premium.
The Underwriting Surplus, after loans have been included, as cus- tomary. 25-or under-market twenty-four months working, was 15.53 per cent. as against 3.94 per price or face value respectively. cent. for the year 1937 at the same The surplus to be dealt with for stage. Interest shows a decline of the 1938 account is $1,228,070.67 $93.133.11. this being mainly due out of which has been paid an to the continued shrinkage in the Interim Dividend of $5 per share. sterling value of the China Nation-ment of $7 per share-making in a final pay- al Dollar.
all 512 per share which will ab- FALL IN INTEREST...
sorb $600,000 and the transfer of The balance at credit of Work- the balance of $628,070,67 to Un- ins Account 1939 as at December derwriting Suspense Account to 31. last stood at $1.888.506.34 and close 1939 and previous years. This although this is less by $285,020.10 represents a reduction of $1 per than the carry forward for account share in the dividend and much 1938 at the same stage. we are as we regret having to advocate hopeful that the elimination of it. we feel Shareholders will agree certain unsatisfactory business that, in view of the heavy shrink-
Volume Of Business Transacted will result in the outturn, at the age of over $93,000-or nearly $2, on Wednesday, May 22 end of the current year, compar-per share-in income from In-China Lights (Old) ing not unfavourably with that for terest, this course is but wise.
China Providents 1938. This account Ilkewise dis- The balance of $1,388,906.44 at HK Electrics. close a fall in interest of $89.000 credit of the 1939 account allows HK, Tramways when compared with the, account of the payment of an Interim for 1938, also at the end of twelve Dividend of $6 per share for that months.
year, leaving an amount of $1,638,- 906.44 to be carried forward.
SHANGHAI LOSSES
A review of the Balance Sheet will show that the total of "assets
The Economic Front
ALLIED BLOCKADE TIGHTENED
814
S8+
$11
for
responsibility is assumed for errors Gula Kalumpong Rubber 18/11
la transalssion.
Allied Ironfounders
Asso. & Elec. Industries
13/3 37/9
War Loan, 34% (Red
after 1952)
Austin Motors, ord. ......
15
971
Canton-K'loon Rly. 5%
12
Cable & Wireless, New
Form, ord.
45
Chinese 41% Gold Loan
B.-A. Tob. (bearer)
95.
1898 (Brit, Issue)
50
Mercantile Bank
121
Chinese 5% Gold. Bonds,
Cammell Laird, ord.
6
1925-47
48.
Mexican Eagle
4/3
Chin. 41% Anglo-French
32/104
Loan, 1908
49
Distillers.....................
50/9
Chinese 5 Crisp Loan.
1912
32/6
20
Chinese 5% Reorg, Loan,
1913 (Lda. Is.)
30
Chinese 9% Ster. Notes.
བུ་ ུ་ཆ
Courtaulds
Dunlop Rubber
Gen. Electric (England). 75/9 Guinness (A) Son & Co. 72/8 Hawker Siddeley Airc... 10/3 Bristol Aeroplane
12/11 Imperial Chemical Ind. 28/9* Imperial Tobacco
102/6 By'cer “A” ord. 38
The Ughtening of the Allied blockade which proved so grim Scandinavia. also stirred the Balkans. German shells and bombs are made from Swedish steel, but airplanes
are built of duralumin.
of 3. copper alloy aluminum, which is extracted from hauxite.
Since the war, began Germany has been dependent for bauxite almost entirely on Hungary and Yugoslavia, which produce 22 per cent, of the world tonnage.
HEMMED AND HAWED
The Ankara. a 4,768-tor freigh- ter whose home port is Bremen one of 28 German ships that holed up in Trieste when war be- gan, last month ran down to Dubrovnik (better known to tourists as Ragusa), loaded, then lay for days while Belgrade hemmed and hawed,
RESOLUTION PASSED
I do not propose to say anything further and think you will agree
China Lights (Old) $6.90. "Electrics $60.
HONGKONG
SHAREBROKERS
ASSOCIATION
600 $6.90
250
3.75
100 60.00
500 18:00
300 16.00
Yaumati Ferries
200 22.25
1,050
The total value is $28,327.50
that the present is hardly a time Ho Kam-tong and was carried by
to indulge in forecasts of any kind. the meeting.
I can only hope, that when we meet again next year it will be in hap- pler circumstances.
COMMITTEE RE-ELECTED
Mr. D.. V. Stevenson proposed. Mr. 8. H. Ross seconded and the
I now propose the following re- meeting carried that the following Lolution:-
be re-elected as members of the Consulting Committee:
"That the report and accounts, as presented, including the pay- The Hon. Mr. J. J. Paterson ment of a final dividend in res- (Chairman); Mr. D. E. Clark, Mr. pect of the year 1938 of $7 per A. H. Compton, The Hon. Mr. M. share, and an interim dividend K. Lo, Mr. T. E. Pearce, Mr. J. H. in respect of the year 1939 of Taggart and Mr. S. .T. Williamson. $5 per share and the addition of Mr. M. EL Lo proposed and Mr. $628,070.87 to underwriting sus- D. L. Newbiggin seconded that 'pense account be adopted and Messrs. Lowe, Bingham and Mat- passed."
thews, Percy Smith Seth and Flem- The motion was seconded by Mr. ing. be re-elected as auditors.
The Germans asked for a naval escort through Yugoslavia's neu- tral waters, hoping to establish a system whereby Nazi freighters could ply all around the neutral Balkan peninsula from Russia's Black Sea of ports: But Yugo- slavs had no wish to offend the New Allies.
I
MORE DUE
One dawn without escort and 16, with a pilot who demanded $1,200 for the 425-mile ran. to Trieste, the Ankara started creeping up Inside the islands which fringe that rugged coast. The Ankara made Trieste unattacked. More bauxite boats were due to follow. Italy and Yugoslavia conferred over the week-end.. about closing the Adriatic, to belligerent war- ships.
SHOE CO. LTD.
HONGKONG -SUPPLIES ALL
KINDS OF FOOTWEAR
BUTTERICK:
Expert Ladies' Tailor Styla Ready Made Dresses
FOR SALE."- Wyndham Street.
THURSDAY, MAY 23, 1940. --PAGE 9
ALWAYS
insist on having ·
CAMEL · BRAND
CAMEL BRAND"
Synthetic
Guarantee Retentive Colour and Gloss.
d Manufactured By
The National lacquer & Paint Products Co., Ltd.
King's Road, Hongkong.
可用耐想髀酡槩
READ
The China Fortnightly
An English-language publication indispensable to
an understanding of China at war and at work..
Vol. 1 No. 21
Articles & Reviews
May 16, 1940.
The Poppy Grower A Short Story)
By Elsie W. Y. Choy.
In Defense of Chinese Civilization
By Dr. Wang Chung-hui
Atrocities in Shanghai
Chungking's Policy ou Manchuria Cabinet's Fact-Fiuding Tours. New Minister to Turkey
Japan's Piggest Debacle on the China Front Raidera Technique Below Par
China's "Store House" -
General Ma Chan-shan Relief Unit From England
Japan's Cultural Aggression,
Tribute to cong Sisters
Ezechwan
Wang Ching-wei's Ace Trumped
Puppet Wang "On Trial"
Tighter Economic Blockade'
15th Annual Convention of Economic Society. Pictorial"
Generalissimo Reviews New Army Departments
Overseas Chinese
"Digest of Chinese Opinion
In Short Takes
This Fortnight In China
Fortnightly Postscripts."
Obtainable at 601, Bank of East Asia Building. Des Voeux Road, Central, Hongkong, or leading bookstores. H.K. 20 cents a copy or $4 a year.
Hongkong Daily Press CLASSIFIED ADVERTISEMENTS
AUCTIONEERS
GREYFEST COLLLOVION OF BARGAINS IN TOWN!
LAMMERTS AUCTION ROOM Tek 23615anest, il marg 2. Connau
Rod Coatgal.
HONG KONG TIDĖ TABLE From 23 to 20 May 1940.
HIGH WATKE, I
Wook
Date of
Beight
Hoight,
1925 (Vickers)
Chin. Imperial Rly. 5%.
Loan
60
Marks
Honan Rly 5%
12
Rolls Royce
Hukuang Fly. 5%, 1911... 15
Leyland Motors.
82/&," 58/0
Bukuang Rly. 5%. 1911
Tate Lyle
German: Issue)
Turner & Newall
Lung Tsing & U. Hal
United Steel
Rly. 5% 1913
11
Smethwick Drop Forg...
50 63/0 20/44 13/9
LOW WATER
Bhai-N'King Rly. 5%...
Armstrong Stevens, ord. +7.-
Hong
Hong
Tientsin-Pukow Rly. 5%
(Brit. Stpd.) Tientsin-Pukow Rly. 5%
Pressed Steel, com..
.15
Kong
Kong
Vickers, ord.
Woolworths
(German Btpd.) Tientsin-Pukow Rly, 5% (Brit. Stpd. Supl. Loan) Tientsih-Pukow Rly. 5%
(Ger, Stpd, Supl. Loan) 11 Jap. 5% 8ter. Loan, 1907
11
Anglo-Dutch ...
11
Rub. Plant. Invest. Trust Burma Corporation ...... Commonwealth Mining Maraman Investments
15/4 55. 19/6 26/3 7/101
Standard
Standard
Time.
Time
32
Jap. 5% 6ter. Loan, 1924 43 Ger, 7% Intl. Loan, 1924 61 Chartered Bank
Randfontein Estates A Western Holdings
Sub-Nigel
81
Tanami Gold Mining
HI.K. & Shal Bank (Lán.
Anglo-Iranian
11/6 37/6 10/6 192/6 41d 4870
Meanwhile Rumania had parallel problem. Rumanian po-Thur 93 lice, acting on a tip supposedly
Fri. supplied by the pro-Nazi Iron Qual detained a fleet of dyna- Bat mite carrying British 'barges in
а
b. m.
shot
him.
རྒྱུ་་་ཟླ་
09 56
1741
0321
17·0%
04
24
0000
46
(385
10 31 7.3
17 45 05
00:50
144
0429
11 08 7 1
18 30
08
the Danube. Their supposed des- Sun. tiny: to blast the Iron Gate, (the narrow gorge where the Danube Mon 27
20
0144
08 OF 8
1141
18 81
10 15
09:30 43
00 40 3 8
1815 6.3
2003
1.
Reg.) ...
784
Birman
63/9
HK, & Shal Bank (Col.
Shell Trans & Trad
cuts through the Carpathians) Dries. 28 and block the channel to other
0837
06.40
13 55 1577] 20 50
18:
Reg)
81+
^(bearer)
82/8
Chinese Eng. & Mining
---Nominal
barges carrying Rumanian oll to Wed.¦ 20- Germany.
04 35
482 07.60
42
13 co
15 21 21 45-2.0)
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HOTELS
COOKED IN THE
RUSSIAN FOOD RUSSIAN WAY
TABLE D'HOTE $1.00 ALSO A LA CARTE AT THE
-MÈTROPOLE HOTEL
TIA DANCE DAILY
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A
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Fresh supply of the best varieties of
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Flower and Vegetable
Seeds
from
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Dealers in Garden Seeds, Postage
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No. 10. Wyndham Street. Established 1808: Hong Kong.
1940 ZENITH · NEW MODELS "Just arrived NÓ AERIAL, NO GROUND, Just plug in and play CHUEN YEE HONG
54 Des Voeux Road C.
AT
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Telephone 24311.
ENGRAVERS
FEI FEI & CO. Photo Engravers 18, Cochrane Street, Telephone No. 22224,