HONGKONG DAILY PRESS
Finance and Commerce
OFFICIAL INHERITANCE
STERLING
MARKET
U.S. WILLING TO CO-OPERATE
NEW YORK; June 14 (Reuter)— The Foreign Exchange Committee
TAX
SHANGHAI, June 14 (Reuter) Ali Chinese, whose movable, pro- perty has been transferred from the interior to Shanghai, Eable to payment of Inheritance Tar to the Chinese Government
MONEY AND EXCHANGE
CLOSING QUOTATIONS JUNE 14, 1940.
On London:-* are
as from July 1. stated the Sin-On
wanpao.
been
Telegraphic
Transfer. 1/1 7/8 Bank Bills, en demand 1/1⁄2 7/8 Credits 4 months' sight 1/3 1/4 Shanghai:inte On demand ies
It added that the local Chi- On Singapore:- has cabled London asking for nese District Courts have
On demand of | On-Japan -- full explanation of the Bank of instructed by the Ministry England's proposal to establish Justice, in Chungking, to this an official sterling market in New effect
York, thereby. expressing Eta
willingness to co-operate as there
is a strong sentiment favouring
the new system as the most help- ful to Eritain.
Meanwhile, despite the assertion
H.K. STOCK EXCHANGE
The market remains neglected, of the free market disappearing deals being subject to negotiation within three weeks, there is and not influenced by normal strong feeling in New York bank-trading conditions, prices naturally ing circles that the free market tend to ease slightly. would continue indefnitely,
It is pointed out that such B market could be used profitably for travel remittances.
RETURN OF BRITISH. NATIONALS FROM
ITALY
LONDON, June 14 (Reuter)- the House of Commons yesterday, Mr. R. A. Butler said that ample facilities were being arranged for the return of British nationals the from Italy to Britain and Dominions, Colonies and Protec- torates, and financial assistance will be provided where necessary.
BUSINESS DONE DURING THE WEES
HK. Banks, $1340. Union Ins.. $452), $150. Docks (0), $181. Trams, $16,20, $16. Electrics, $58.40. $58), Cements, $15). Govt, 4% Loan, 103
BUYERS
H.K. Banks, $1315. SALES
Dorks (0), $16. Trams, $16.10/20. Yaumati Ferries, $22, Electrics, $58.
Cements, $15)
HONGKONG SHARE QUOTATIONS
STOCK EXCHANGE
Bayers Melleru Baing Nominal
$1315
£77
14:
Indi
⠀
4:1
SHAREBKOKERS' ASSOCIATION
FRIDAY 14. JUNE.
Bastc
H.K. Banks
Da (Col) ** 280 Da. Lon. Bj.)... £7) Chartered Banka
$30% Marcantile Bks. "AS £12 Mercantile Bhs, “03
873
Rank of Bank Asia .....
N. C. &#. Banks ...
Insurance
#218 Canton Inauenment. .........
$450 Union Issuguneen
186 cta. Underwriters
$160 H... Firms gransk
Shipping
$190 Douglas
#11 Bunboats
$100 Indo-Chizas
#80. Indo-China (Del)......
03/2
Bhalla.
$8.90 | Waterbonde
On demand
Un India:-
Telegraphic
49 3/4
95
Transfer.
and demand 82 1/2 On New York:-
Bank Bills, on demand 29 1/2 Credits, 60 days' night 23′′7/6 On Batavia:----
On demand
On
Paris:-
Bank Bills, on demand 1085 Credita 4 months' sight 1160
On Saigon:-
On demand
108 3 4
On Manila:-
On demand
45
On Bangkok:
149 1/2
Bank Buying Rate Bar Silver per os.
1/4
93 3/8
On demand
On Sterling Notes:-
Market Report
FINANCE & GENERAL
MALAYA AS EMPIRE'S "DOLLAR ARSENAL"
Reference to Malaya as the Em- pire's "dollar arsenal" d source from which the empire poncures a large portion or her foreign ex- change by the export of Malayun produce-was made by Mr. Lee Kong-chian in the course, of his address to shareholders at the eighth annual general meeting of the Oversea-Chinese Banking Cer- paration Ltd.
In these times all efforts and attention are directed towards the successful prosecution of the war."
are already well-known, and I do not propose to dwell on
them You wil no doubt de 'glad to know that the closin.... down was carried out, without any loss to the bank, and that all the officers of that `branch have since been given appoint- ment in other branches on an equal or better status.”
Test any shareholder should feel concerned about the bank's branches situated in countries outside the sterling bloc, I wish said Mr Lee, and in such at-to make it known that since the mosphere it is neither possible nor commencement of the
war of any avail to express any Europe, these branches have gra- opinion on the economie situation dually been placed on a basis as self-contained as possible." added
of the immediate future." ;
>
in
A profit of $1,375,297.08 was the chairman, who next made re- earned during the year under reference to the general trade of view, announced the chairman, Malaya for the year 1939, BETTER TRADE
and the proposals of the directors
and adopted.
a
to declare a dividend of five per “The” tatal - value of this trade cent and pay a bonus of fifty shows an increase on that of 1938 cents per share * 42 1/8
were approved by about $238,000.000, with an ex- cess of exports over imports of BRANCH OFFICES
$122,000,000 satisfactory, Im- Touching on the progress ofprovement on 1938," "said "Mr. Lee branch offices. Mr. Lee announced adding that these increases were the opening of four new, branches chiefly brought about by the In Alor Star, Teluk Anson, Sega- larger production quota and the mat. and Klang-increasing the higher prices of principal comme- number of offices to twenty-four. dities-rubber and tin-and by the "Proposals to establish new i increased activity in trade conse-- branches in countries outside the quent to the outbreak of war.” sterling bloc have been suspended The report and accounts were for the duration of the war." de-approved and adopted. and a clared the chairman, who then re- dividend of five per cent. absorb- ferred to the closing down of the ing $500,000 and a bonus of fifty Bangkok branch. „
cents per share, absorbing $125,000 were declared. A sum of $250,000 was also transferred to the general reserve.
FROM KOZA, BROS. The price for Ready Silver the holidays to over rose 3/8 23.3/8. The Forward rate also Silver ad- rose 3/8 to 21.9/4. vices reported small sales made by speculators. The market was dall American Silver was quoted at 35.
The London/New York cross-rati was quoted at 4021/2 New York! London was quoted at 371. -
MARKET
Baser Bellare Balen Worpinal
Steady.
STERLING There were sellers at June/September, buyers for any delivery.
1/231/32 at 1/3
·$1,330 £77
£80
+
83.
£304
£12
$74"
30 ct.
+4
$218 $450
+
86 cta
***
U. S. DOLLARS Opened with sellers at 22.7/8 with some business done at 23 for Cash and June. Bubsequently "the market flrmed up and business was done at 23.1/16 for Cash, 23. 1/8 Cash, 23.3/16 Cash, July and also 23.1/4 for Cash. The market closed at lunch time with sellers
at 23.3/18 for June, 23.1/8 July/ $170
August, buyers probably at 23.1/4 $120 Cash and 23.3/16 August.
$11.
$100
$100
54/41
momen
$6.00
Docka, Wharves,
Godowns, etc.
$05
H.K.K. Wharves
805
Provident
Providenta (DSW) ...
8161 H.K. Docks (Old)...
$16)
$16 ELK. Decks (New)...
do Rts.
$16
#21 Shanghai Dooks 1. ver
8281
Mining
こ
178 Kailan
17/6
$9.90
$8.46 Haube ......
Venesuela Gold · Plán 6 cta. Hong Kong Minat ... Lands, Hotels and Buildings
$4.35 E. Hotels. $32 H.K. Landa ..................... $iro Do, 4% Dabamémus 19 Shanghai Landa # $4.20 E.X Baltis
$8 Hamphrey *********
$1041 Chinese Kalame
Cotton, Mill
331 Ewo. (8.) .005770Bunne 8210 8'hal Cobione ()
Zoong Bings (8.). Wing On Textilu (6.) Public Utilities
$16 Tramways (DN LENOMIS
#311
****
J
::
IM
$3.90
SHANGHAI DOLLARS
Opened with sellers at 380 with business done at 382, also 381. At 1 pm. there were sellers pro- bably at 379 for Cash.
"Circumstances which led to the closing down of our Bang- kok branch in September, 1939,
LONDON STOCK.
EXCHANGE
LONDON, June 14 (Reuter)-On-
SITUATION NOW CLEARED UP
LONDON, June 14 (Reuter)—At-
the Stock Exchange, early firmness tention was drawn at questiori was not maintained owing to ex-time in the House of Commons treme" quietness in trading but yesterday regarding the indigna- git-edged securities recovered to tion among Frenchmen in Great around the opening levels.
Britain who' were sublected to the Most of the other groups showed recently-issued restrictions appiled small net lossen.
[to allens:
Wall Street was higher,
LONDON METALS
EXCHANGE
London, June 13 (Reuter). Tin, Standard, Cash, Middle Price, 239 to 291.
Tin, Standard, 3 months, Middle Price, 289-7/8" ·
LONDON GOLD
London, June 13,(Reuter). Bar Gold, Fine per oz. 168.
Export Restrictions
Sir John Anderson said, that orders had now been issued exem-
Png Frenchmen from the curlew and the use of bicycles, motor cars, cameras, field glasses and also residence in the restricted areas.
Immediate consideration is also being given to the position of Frenchmen la
the relation to Civil Defence Services from which allens are excluded.
EVEN DICTATORS UNDERSTAND THIS LANGUAGE
SHANGHAI MARKET
LONDON, June 14 (Reuter)-As NEW YORK., June 14 (Reuter)—— Erratic. Sterling opened with a result of Italy's entry into the America's latest battleship. the sellers at 3.7/8. The highest rate War the Board of trade made an 35,000 tons U. 5. S. North Carolina. reported was 3.15/16. Closed with order under which export of all was launched on Thursday ‘at the sellers at 9.29/32. US Dollars classes of goods to Bulgaria. Brooklyn Naval Yard, opened with sellers at 8.1/32 and Greece, Hungary, Liechtenstein Governor Hoey. of North Carolina elosed with sellers
that ut 6.1/16, Rumania, Switzerland, Yugoslavia declared
battleship Steady.
AFTERNOON MARKET
The market was quiet in the afternoon....
STERLING
The market closed with sellers
at 1/2.31/32 June/Sept. buyers $100 at 1/3 for any delivery.
$4.90 $7.76
$324 $930
$120
$18
$7.40 Pack Traps (Old) -
$3.70 Pak Truma (now) ... $60 Star Ferrion
34.
$87
822
#161
***
#22.85 Y mati Ferrion"
Do. (new)
$6.85 China Lights (0) $44 China Lights (New)
Chins Light Ra
$68 H.K. Katrics
#22.10 Macao
#11
Acao Bestclosu Sandakan Laghis
$23 Telephones (ok)
#10.20 Telephone (new)
Tractions
Trackicos (prof.)"
Industrials
$14.00 Cal., Mag. (Ord.) B.
$14 Cald, Macg (Fruf.) 8.
$1 Canton Los
481
Caconale
Кортрет
Miscellaneous
$20 Dairy Farma......... Dairy Farm
#7 Ch. B'ainmain
Constructions
$1 Constructiona
$7.45 Lane Crawfords
Jante
Nanyang Tobson....
#
$2.60 Bincares Garrastamen
$91· Watains
$108 H.E. Gork: 6% Loans
$95
H.K. Govt. % Loma
43 Ch. GJ% 192G 85dz.
$80 H.K. Wing Os
What Wing On
Vibro Pling
10/8 Märsmana Inv. (Lam.) 4/9 || Marsmann Inv. (EX.
$1
Win Powelle
1018
U.S. DOLLARS ·
Steady. The market "closed with sellers at 23.1/4 for Cash, 23.3/16 June and 23.1/8 July, probably August, buyers at 235/16 10: Cash, 23.1/4 July and probably
| 23.3/16 ́August.
-SHANGHAI DOLLARS
Closed with sellers at 377." ..
SHANGHAI MARKET
Sterling opened with sellers at 3.29/32 and closed at 3.15/16 for Spot, UA.. Dollars opened with $8.GO sellers at 8.1/18 and closed at 6.1/8 for for Spot. Steady but quiet.
$4
$581
$24
80.60
23/0
Shanghai Exchange
Shanghai, June 14 (Reuter),
Sterior
Opening Closing
Sellers Spot 0/9-7/8 0/3-15/16 June 0/3-7/8 0/3-15/16 July... 0/3-25/32 013-27/32
$15.96
U.S. Dollars
444
$3.90
Spot June
$6. 6'
$6-1/8
B-3/32
July 5-13/16
5-15/18
Market:Quiet.
$1.85
$7.45 HONGKONG
SHAREBROKERS:
ASSOCIATION
Volume Of Business Transacted
on Friday, June 14, 1940,
$3.25
82.20
38.45
43
103
$30
HK Electrics
$14
HK, Docks (0)
China Lights (0)
100
200
350
The total value is $5,840.00.
131
the
and the Black Sea ports of UABR. | “speaks the language that even a la prohibited except under License, dictator can understand.”
SHOE CO.LTD.
HONGKONG SUPPLIES ALL KINDS OF " FOOTWEAR
INSURANCES
The National Mutual Life Association af Australasin, oders you the best conditions for a fund for old age, and your family in case of your death. Annuities and educatiónsi policies are
"Office":-6 sing issued. Immere now. Des Voeux Bd. Central (5th Boot Boom-No,-64), Bank of Canton Build- ing, Hongkong.
. Tal, No. 27473.
"Besident_Becretary,
H. B. WELLS.
BUTTERICK
Expert Ladies' Tailor
New Style Ready Made Dresses FOR SALE.
16, Wyndham Street. Tel. 23815.
TO LET
Large furnished or unfurnished
50 $58.00 room near Bus station, Waterloo 16.00 Road, with Laundry and with br
6.70 without Breakfast.
* For: particulars "please apply to
Box No. 884, c/o HK, Daily Press, Ltd, or phone No. 30251..
SATURDAY, JUNE 15, 1940.-PAGE 9
H
Satisfied 7 Quite! IT'S
"BLACK
WHITE"
NO IF OR MAY BE IT'S THE SCOTCH.
SPECIAL
SALE
AT LOW PRICES
New Lald Leghorn Eggs
FROM THES
Diamond Leghorn Farm
Sola Agent:
HUNG CHEONG
66, NATHAN BOAD, KOWLOON":
TELEPHONE STIGS
KIRIN
The
B
E
E
Choice of R
The Multitude
"Sole Agentz
H. HONDA
Tel. 2070.
Hongkong Daily Press CLASSIFIED ADVERTISEMENTS
AUCTIONEERS
...
GRINESE COLLECTION OF BARGAINS IN TOWN"
#
FANMEETS ACCHION BOOM
Head Chare da Telepnas. NO, QUIA
Just Received
Fresh supply of the best varieties of Reliable and Tested Flower and Vegetable
from
Button & Sons Ltd. Reading now obtainable at
"AGRAÇA & CO.
Dealers in Garden Seeds; Postage Stamps, B., &c."...
No 10. Wyndham Street. Established 1898. Bong Kong.
YOU CAN NOW EAT:
&
CO.
40, Johnston Bond, Hong Kong.
相 ̇照
ROYAL STUDIO
Excelle
HOTELS
Art Photographer
Enlarging & Developing
39, Queen's Ra. C.
Tels. 21184 & 33008.
RUSSIAN FOOD COOKED IN THE
***RUBBIAN "WAY" TABLE D'HOTE $100 AL80 A LA CÁRTE
AT THE
Gi METROPOLE HOTEL
1940 ZENITH
NEW MODELS ·Just arrived NO AERIAL, NO GROUND, Just plug in and play CHUEN YEE HONG
64 Des Voeur Road 70.-
Jimmy's
TEA DANCE DAILY
5 TO 1.30 PM MUSIC BY THE METROPOLE SWING RAND”“”
Téléphone 24311.
ENGRAVERS:
FEI FEI & CO. Photo Engravers
18, Cochrane Street,