Chairman. Hon. Mr. J. J. Paterson,
Deputy Chairman.
Sir Vandeleur M. Graybars,
Chief Manager.
Chefoo Lyons Sourabaya
(Johora). Tientain Mukden
New York Tsingtao Peiping Yokohama
59, Bishopsgate E.C.. Sub-Agencies In London: 117/19, Leadenhall Street, E.C.S West End Branch:
14/16, Cookspur Street, B.WL Manchester Branch: 52, Mosley Street, Manchester, 2
ALOR STAR AMRITSAR
AGENCIES AND BRANCHES
HARDIN PENANG HONG KONG LANGDON ILOILO 'IPOH ·
KARAOHI-
BANGKOK"
CALCUTTA
KLANG
AGENCIES: KOBE CLAVE START. TUALN BALI PLACK
DANTON
--- LUMPUR
KUCHING
MADRAA
BAIGON
JEREMBAN
SHANGHAI
BINGAPORE
SITIAWAN
"BUGEABATAN
TAIFINO"
. TIENTSIN
TONGKAH
(Bhuket)
THINGTAO
IPEONG NEW YORK ISION HAMBURG • PRIPING
·HANTOW-------
(Peking)
FORBON EXCHANGE and General Banking Business-transacted.~~~
CURRANT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods. in Local or will be quoted on application. Other Currencies at ratas which
Adams Express
8 8 8 8 8 8 8 8 8 8
COMMODITY ́ MARKET · REVIEW
Alleghany Steel Co.
390
Allis Chalmers ...........................
(FROM PAYNE & CO.)
Aluminiam Lad
On demand........
52 3/4
Amer. Can
NEW YORK August 24, 1940..
On demand
94 1/2
SINGAPORE RUBBER
On India:-
Telegraphic Transfer. and demand
82 1/2
SPOT
On New York:-.
OCT:/DEC.
Bank Bills, on demand 22"1/4 Credits, 80 days' sight 93 3/8
JAN,/MAR.
Previous
August 24 Close Opening Closing Change Buyers Buyers
37-3/B 37-3/8 37-1/2 36-1/2 36-1/2 36-1/2 34-1/2 34-1/2 34-1/2
American Cyanamid B.
Amer. & Foreign Power
PAGE 10-HONGKONG DAILY PRESS
FINANCE
FOREIGN MARKETS & QUOTATIONS
MONEY AND EXCHANGE
CLOSING QUOTATIONS
AUGUST 24, 1940,
On London:-
Telegraphic Transfer, 1/7/4 Bank Billa, on demand 1/3 7/8 Credits 4 months' sight 1/3 1/2. On Shanghai-- On demand On Singapore:=
Da Japan:-
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONGKONG
NEW YORK STOCK EXCHANGE
STOCKS
QUOTATION (REUTER'S SERVICE)
AUGUST 23, 1940.
STOCKS
MONDAY, AUGUST 26, 1940.
BANKS
HONGKONG & SHANGHAI THE CHARTERED BANK OF
BANKING CORPORATION,
INDIA, AUSTRALIA
AND CHINA
Authorised Capital $50,000,000 Issued & Fully Paid-Up $30,000,000
Reserve Funds:
Sterling
corporated by Royal Charter, 1865
£6,500,000 Reserve Fund.....
Paid-Up Capital
£3,000,000 ....£3,000,000
pristors
£3,000,000
HEAD OFFICE: LONDON:
H.K. Currency Reserve $10,000,000 Reserve Liability of Pro Reserve Liability of
Proprietor
Last Sale
Last Sale
$20,000,000
Aug. 22
- Aug. 22
47
Lockneed Aircraft
261
Blead Ofce:-HONG KONG
21
Loew's Inc..
24
32+
Loft Incorperated
214
.75
Mack Truck Inc.
214
Board of Directors: H. V. Wilkinson, Esq.,
94
Martin, Glen L
303
331
McKesson & Robbins, pfd. 21*
It
Montgomery Ward
42
Amer & Foreign $7 pf.
154
M'tain City Copper Co.
31
Amer. Locomotive
13
National Aviation
10
J. K. Bousfeld, Esq., A. H. Compton, Esq.,
up-1/8 unch.
Amer, Metals Co.***
141*
Nat: Dairy Producta
134
Hon. Mr. S. H. Dodwell,
Amer. Radiator"
61
National Distillers
201
G. Miskin, Esq...
+1
Amer, Rolling Mil
10
National Lead .....
E. S. Morrison, Esq..
17A
On Batavia:—
The market was inactive. LONDON RUBBER
Amer. Sting and R'ing Co.
T. E, Pearce, Esq.,
371.
Nat, Fower & Light
8
On demand
41.0/8
buyers
Previous close Today's close
buyer.
Amer. Sugar Refining
13
National Supply Corp.
C. C. Roberts, Esq.,
BATAVIA... BOMBAY
59
Change
Amer. Tel & Tel.
1601
Hon. Mr. A. L. Shields,"
New York Centinl
118
On Paris:
SPOT
12-5/8
Amer. Tobacco "B"
744
Niagara Hudson „Power
#..
OCT-DEC.
On Saigon:-
On demand 98 3/4
JAN./MARCH
APRIL-JUNE
On Manila:
44 1/2
******* 148 1/9
H
Bank Bille-en-demand as SEPTEMBER Credits 4 months' sight 1160 ...........
12-578
-Amer---Water works
[N. American Aviation
161
12-9/18 Market closed
Anaconda Copper
-201----
North American Co.
195
Branches:
12-9/16 11-3/4
Atchison, T. & 8. Fe.
151
Northern Paciāc
61.
Aviation Corp.
41
Owens-linols Glass Co.,
50
Amby
Johore
Bar Silver per- oz.-
December (
On demand
On Bangkok:
On demand
On Sterling Notes:-
Bank Buying Rate
Market Report
... 1/4 0/8
་་
-FROM-ROZA-BROS.
83-5/18
NEW YORK COTTON: There is large buying. for near months, mostly by the trade: "Hedging Iniore active or the advance.
NEW YORK RUBBER: Market closed.
CHICAGO WHEAT: Overnight news was colourless and the market lacked any distinctive feature. The market ruled dull with- in an extremely narrow range. Some hedge sales and scattered liquidation early on caused a frictional decline.
NEW YORK STOCKS: 125.48; Change up .14.
Previous clase, 125.34: Today's close.
NEW YORK COMMODITY MARKET
(REUTER'S® SERVICE)
Saturday, August 24. Silver prices rose 1/16 yesterday for both deliveries, the quotations being 23.6/16 for Ready- and 22.- 15/16 for Forward. Silver advices reported a quiet market. Specula
small extent. New York Cotton. Oct tors bought to a
quoted at Chicago Wheat, Sept... American Silver was
Chicago Corn, Sept. ́..... 34.3/4 for Spot.
The London-New York Cross-NEW YORK COTTON rate was quoted at 402.1/2, New York-London was quoted at 402 Oct, (New contract)
Baldwin Lecometive
15
Pacific Gas & Elec
281
Bangkok
Kobe
Rangoon Saigon
་
Batavia
CAWNPORI MEBY COLOMBO DELHI
MANILA
. MEDAN
Baltimore..& Ohio..
34
Kowloon San
Packard Motors
31
Bombay Kuala
Barber Asphalt Co. Barnsdall Ol Bendix Aviation Bethlehem Steel Bliss Co
ᎦᏐ
Pan-American Airways
131
Calcutta
Francisco Lampur Shanghai
B
Paramount Pictures www.
-5)
Cantons-London
Singapore
30%
| Pennsylvania R.R.
20
78+
Philadelphia Read, Coal
g*
Colombo
Malacca
Stinger
---13
Phillips Petroleum
3:21
Dairen
Mazuila
Bocing Airplane Co.
14
Public Service of N.J.
··344
Foochow
Muar
Patani Swatow
Borg-Warner
171
Pullman Inc.........
191
Haiphong
Bankow
Briggs Mig.
201
Tokyo
Pure Oll
72
Harbin
Budd -M'facturing-Corp.
-34
Radio Corpn."" of "Am."
42
Iloilo
Canadian, Pacific Riway Case, JI
37
Reading Company,
Com
131
Ipoh
491
Remington Arms Co., Inc.
42*
Celanese ......
29
Republic Aviation Corp.
41
Chesapeake & Ohio
391
J
Republic Steel
17
Prev. Today's High Low Close Close Change
9.26 9.16 9.16 691 681 691
Chrysler Corpo, ..
74
Revere. Corp.
91
Columbia Gas & Elec.......
57
Reynold Tobac. "B"
35
9.19 69+
.03 up unch.
Commercial Credit Co. ...
31
Safeway StoresTM
44.
Com & Southern (@rd.)
14
Schenley Distillers
91.
601 001 602 GO
Consolidated Edison
281
་་་
Close
9.16/16
Opening
9.17/16
Closing..
9.19/19
up Change
Sears Roebuck
Consolidated Oll
*
Shell Unilon Of
Continental Can
38
Socony Vacuum Oil
81
,03 up
Continental Of
18
Southern Pacific
3+
}
9.15/15-
9.15/15
3/4.
MARKET
January {. }
9.06 N
·9,07a
9.16/17 9.07m
.01 up
Copperweld steel
181
Southern Rly $5 pfd,
181
.01 up
Curtiss Wright (C.)
71.
Spicer Manufacturing. Co." 26*
March
: }
9.05/05
9.04/04
9.06/06
.01 up
Curtiss Wright "A"-
26
Standard Brands
81.
Qujet.
May.
(
j
8.87 N
8.86/86
8.89/89
02 up
Deere & Co.
157
Stand Gas & Elec.......
11
STERLING
July
8.67 N
8.67/67
There were sellers at 1/2.31/32 up to November, buyers at 1/3 for any delivery.
Spot
9.66 N
8:89/69 9.691
.02 up
Distillers Corpn. Seagrams
171
Standard Ofl-of California........173.
.03 up
Douglas Aircraft......
71
Standard Of of NJ...
341
Du Pont de Nemours
1871
Stone & Webster
71
Eagle Picher, Lead
81
Studebaker Com.
74
Eaton Mfg. Co.
304
| Swift_International
691 1692 694801 718/712 713/712 73/73
6011607 712/714 -73+/731
-unch.
“ETEC," "Autolite
391
Technicolor
10*
Elec. Bond & Share
€
Texas Corpni.
352
up
Elec. Band & Share 35 pf.
63
Texes Gulf Sulphur
314
Elec Band & Share $6 pf.
714
Timken-Axle
23
Elec. Power & Light $7 pf.
361
Trans-America Co.
Thntkote
14
December
602/803 55+/55+
80/601 6071807 554/551 55F7554
20th Cent. Fox.
54
1 up unch,
Gen. American. Trans.
461
Union Bag & Paper Corp.
121
Gen. Electric
333
WINNIPEG WHEAT
Union Carbide & Carbon
72
Gen." Motors
471
Union Pacifc
841*
73ja 7483
73 a
731a 74ja
unch.
Gen. Railway Signal
117
United Airorsït
37
Gen. Tire & Rubber
111
United Airlines Trans
Glidden Co.
13
United Corph.
180 13
Goodrich (BF.)
-117
United Corpn. $3 cum pf. 361
4.02-1/2
Goodrich $5 pf.
48"*
United Gas Corpn.
14
Goodyear Tire & Co........
15
United Gas Improvement
12
Great Northern Iron Ore Great Northern Rly, pfd. Great Western Sugar Greyhound Corpn. Hercules Powder Co
134
UB., Industrial Alcohol.
171*
23
Amos
U.S. Rubber
18
194*
Interest Rates on Application.
Atara
U.S. Rubber $8 pfd.
BIL
Bombay
111.
U.S. Steel
521
SAFE DEPOSIT BOXES'
Calanti Halphong
Параса
821
Vanadium
318
Bakow Bonalula
International Harvester Int Nickel
40
Vultec-Aircraft tamponow
.71*
261
Walworth Co.
4
Inter. Paper & Power Int. Tél, & Tel
151
Warner Bros. Pict.
24
27.
Westinghouse Elec.
1001
This Bank is entirely owned by THE CHASE NATIONAL BANK NEW YORK, with Besourom of av U.S.$3,900,000,000.
Koba..
27
34
Woodward Iron Cor. Chase National Bank National City Bank
251*
282* 24*
*' bild.
t-ex, dir.
U.S. DOLLARS
Total sales Friday:-57,600 bales.. CHICAGO WHEAT, September
A small business was done dur-December ing the early part of the morning May at 22,3/4 for Cash. The market! closed with sellers at 22.11/16 for Forward and probably Cash, buy-
ers at 22.3/4 for Cash.
SHANGHAI DOLLARS
Opened with sellers at 403.1/3
Friday's sales:-12,620,000 bushels. CHICAGO CORN
September
with business done later "at, 403.- October 1/2 Subsequently business was December done at 104.1/4. The market clos-NEW YORK HIDES ed with sellers at 404.1/4, buyers probably at 404.1/2.
SHANGHAI MARKET Sterling opened with sellers at 3.45/64 and closed easier at 3.11/16. US Dollars opened with selfers at 5.5/8 and closed easter with possible sellers at. 5.3/18 for near.
Shanghai Exchange
Shanghai, Aug. 24 (Reuter),
Official T.T. Rates
London
Japan
Closing
U/3-45/64 0/3-11/16.
NY-London Cross Rate 402-3/4
LONDON STOCK EXCHANGE
(REUTER'S SERVICE)
London, August 23. The following quotations are the middle prices at the close of the market in London. All quotations are subject to confrmation and no responsibility is assumed for errors in transmission.
LONDON STOCK EXCHANGE
LONDON, August 25 (Reuter)- In the Money Market gilt funds, seeking employinent, had been pronounced, hence borrowers con- tinued to obtain overnight loans cheaply £85,000,000 Treasury bills
more
were offered and were alloted at an average rate of £1. 0. 5.63d. which Was fractionally" favourable to the Market,
Applicants received 56 per cent. of their requirements compared to 48 per cent in the previous week.
Wall Street closed steady.
Honey production of Saskatche- wan increased from 2,794,200 pounds, valued at $242,100 in 1938 to 4,262,600 pounds, valued at $376,400 in 1939. Number of opera-. tors increased by 180 to 4,180 and bee colonies by 4,220 to 28,000.
Average yield per hive of 153.
* Kenmecott Copper-
Lakey Foundry & Mac. Libbey-Owens-Ford Glass 391
1939/40
DOW JONES AVERAGE
High Low Dow Jones Averages
155.92 111.84 30 Industrials
35.90 12.15 20. Rails
97.70 18.03 20 Utilities
7 22 83.06 40 Bonds.
125.07
Change
1.39 up
.34 up
-- Aug, 23, 1940.-- Aug 21, High Low Close 126.07 126.62 1:6.46 28.79 27.13 26.8 27.09 21.97 22.30 21.85 22.28 98.05
'88.35 ,30 up 40.64 24 up Business Done -440,000 shares
65.67 45.59 11 Commodity Tader 49.40
.31.up.
Penang
SAVINGS ACCOUNTS also opened in Local Currency and Sterling with interest allowed at rates obtainable on application...
CURRENT ACCOUNTS opened in LOCAL CURBENDY. hod Fix Deposits received for one year or shorter The Bank's Head Office in London periods in Local and other Our undertakes Executor and Trustee terms which will be business, and claims recovery of British., Income Tax overpaid, on terms which may be ascertained st any of the Agencies and Branches.
R. A. CAMIDGE,
Manager.
rencies on quoted on application.
"ALEO up to date Sir DroBIT Boxks in various sites To Lat. Hong Kong. 28th February. 1940.
HONGKONG SAVINGS
BANK
The Business of the above Bank in conducted by the HONGKONG
SHANGHAI BANKING COR PORATION. Rüles may be obtain- ed on application.
For the HONGKONG & SHANGHAL Banking CorpORATION.
V. M. GRAYBURN,
Chief Manager. Hong Kong, 28th. Feb., 1839.
THE CHASE BANK
15, QUEEN'S ROAD, CENTRAL
HEAD OFFICE:
18, PINS STEKE,
NEW YORK
BANK OF EAST ASIA, LIMITED
Authorised Capital......$10,000,000:00 Paid-Up Capital... 5,598,600,00 Reserve and Undivided
Pronta
...2, 53, 261.56.
Head Office:-HONG KONG No. 10 Des Voeux Road, Central.
Board of Directors: SIR SHOPSON Cxow, Chairman Li Koon Chan, Enz Li Lan Bang, Eag P. K. Kwak, Beq. Wong Chu Son, Esq. Wang Tun Tong, E, Kan Ying Po, Bag. Chan Ching Shor; Esq. Fang Ping Wab aq KAN TONG PO, Esq., Chief Manager
Tax Fosa, Esq., Manager
An American Bank offering conLI plete Foreign Banking Service in the principal Markets of the world.
D. M. BIGGAB,
Ascom Tipe Pr
Ajob?
WANT ADS
INDO-CHINA
Branches and Agencies: -
Kidoa Landon Bangoin
Minila
Pavanz
Balgon
Melbourne San Fran
Singapors Bourabaya Swatow
Bydzy
oleo ikas
CONTIT
New York Bettis Paris
Bemarang -Felping Shanghai --
Every description of Banking and Exchange business transacted. Loane granted on approved securities. *****
Current Accounts opened in Local Currency and Fixed Deposite re- ceived for one year or shorter periods in Local and Foreign Cur rencies on terms which will be quoted on application.
SAFE LIPOSIT BOXES TO LET
KAN TONG.PO,
Chief Manager.
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT: OF CHINA AS AN INTERNATIONAL EXCHANGE.
PAID UP CAPITAL $40,000,000.00
BANK
STEAM NAVIGATION COMPANY LTD (BRANCHES ALL OVER CHINA)
New York.
Paris
Hongkong
Opening 0/3-5/8 5-3/8 22-3/4 ZON 24.
E
War Loan, 34% (Red -
after 1952)
1007 Janton-Kloon Ely. 5% 7 Chinese-41%-Gold Lean-
Sterling
1898 (Brit. Issue)......
30
Sellers
Opening
Chinese 5% Gold Bonds.
1925-47-
35
Spot Aug.
Sept
0/3-45/64 0/3-11/16 0/3-11/16 0/3–11/16 U.S. Dollars**
Chin. 41% Anglo-French.
-Loan, 1908
44
Chinese 5% Crisp Loan.
1912
12
Spot
Aug.
$5-5/8 $5-19/32
5-5/8
5-19/32
Chinese 5% Reorg, Loan
1913, Ldn. Is.) Chinese 8% Eter. Notes.
18
1925 (Vickers) Chin. Imperial Ely 5%
D
pounds was the highest in the Dominion..
LOBRE
38
Honan Ry, 5%
9
Hukuang Rly. 5%, 1911.
(LP. N/Y Issue)......
Chosen Corporation ......
4
12
Pekin Syndicate
2
Jukuang Rly. 5%, 1911
(German Issue)
S'hai Elec. Constr.. Co....
15
11
Bhal Waterworks "A"
Operating Services for Cargo and Passengers
TO-
131
Union Insurance
20
SWATOW, SHANGHAL, THINGTAU, CHEFOO
8
Gula Kalumpang Rubber 13/0
and TIENTSIN
12
B.-A. Tob (bearer)
77/6
Mercantile Bank............
111
Dunlop Rubber
28/6
Bristol Aeroplane
9/11
Imperial Chemical Ind.
20
United steel
་་་ རཱ རཱ བྷ******ས་
17/11
Woolworths
57/44
8/9 9
155
01
@hell Trans, &'; Trad.
(bearer)
32/6
HK & Bhat Bank (Ldn
Reg.
82
| Londen-Midlands-Scot-
tish. 3%...
63
Great Western
Ratl-
Sept..... 5-19/324 5-9/16
Market:Uncertain.
Calcutta Exchange.....
Calcutta, Aug, 24 (Reuter)..
T.T. on Japan, B1-1/2.
SILVER MARKET
BOMBAY SILVER Bombay, Aug. 24 (Reuter). Market Quietly steady. Offtake 100 bars.
Ready
Indian Mint Silver
Aug: 28 Settlement Sept. 25 Settlement Oct. 23 Bettlement
LONDON METALS
EXCHANGE London, Aug. 23 (Reuter).
Standard,⠀⠀ Cash, Middle
Price £280-1/2/20
Tin, Standard, 3 months, Middle Price £281-1/8
Lung Tsing & U. Hai
Rly. 5% 1913 S'hai-N'King Fly, 5%.... Tientsin-Pukow Rly. 5% (Brit. Stpd.).... ..................isa Tientsin-Pukow Rly. 5% (German Stpd.). Tientsin-Pukow fly, 6%
(Brit. Stpd. Supl. Loun) 8 Tientsin-Pukow Rly. 5%
(Ger. Stpd. Supl Loan) # Jap. 8% Ster, Loan, 1924 31 Ger. 7% Intl Loan, 1824 51 Chartered Bank
HK. & Shai Bank: (Col
Reg). Chinese Eng. & Mining
(bearer) garī
Marsman Investmenta
Western Holdings Sub-Nigel o
63-11
63-10
Nat Defence Bonds, 3% 100%
Nat, Bank of India. 3%
way, 3%
12
274
241
Owing to our numerous Branchea in China and connections in the principal Commercial Centres of the World, we are able to extend to our Clients special facilities, for Domestic and Foreign Banking and Exchange,
Head Office:-SHANGHAI Hong Kong Branch? 'QUEEN'S ROAD, C. South China Offices;
USS UANTON
KOBE and OSAKA
SINGAPORE, PENANG and CALCUTTA
·SANDAKAN
HAIPHONG
All steamers berth alongside the Roosevelt Terminal in the French Concession at Shanghai, where passengers. „and cargo are landed.
For further particulars
please apply to
JARDINE MATHESON&C TELEPHONE ZOSIL GENERAL MANAGERS**
SWATOW SHIUOHOW
KONGMOON TOISHAN
KINGCHOW
We also handle the issue of Bonda and other Public Funds of the Chinese Government both at. Homs and Abroad.
SHOU J. CHEN,
Manager.