HONGKONG DAILY PRESS
Finance and Commerce
BRITAIN TO HAVE "BABY"
BANKNOTES MORE MEN WILL
LONDON, Oct. 24 (Beater) - "Baby" banknotes are being held in reserve in Britain against the possibility. of interruption in minting silver coins. The notes will be of small denomination and will not be used except in 3.21
emergency.
Authoritative London banking circles stress that the measure is purely precautionary and even if the notes are put in circulation their life would be brief as mint ing uperations would be resumed with the utmost speed.
;
The total value of such notes | would be infinitesimal "compared, with the present amount of bank notes in circulation (about £600,- 000,000),
SCHEME APPROVED
BE CALLED UP
Australian Production Of Munition
army 18 What a
FINANCE & GENERAL
FARM BANKING BUSINESS EXPANDING
Economic Warfare In East China
Considerable progress has been achieved" in the farm banking business since the enforcement of
A wide network of inspection the wartime "agricultural finance policy, and his chief duty in his arid registration onces has been new capacity will be to seek to established in China's eastern pro- vinces of Kiangsu, Cheklang.. further develop the business so that every village in the country Anhwel Klangsi, and Fukien by LONDON, Oct. 24 (Reuter)
LONDON, Oct. 24 (Rauter)
Sydney production of can be benefited. said Mr. Ku Ythe war area headquarters. They chun, newly appointed Acting are to intensify economic warfare An Indication that the
against Japan. now in a position to absorb more 8,000,000 shells annually is en-
Managing-Director of the Farmers men is provided by the announce-visaged by the Australian Govern Bank, In an interview with Cen- j Located along the sea coast and ment that men, of 35 will have ment was revealed in a report
tral News.
rivers, these stations examine all delegates
whether and exports, Mr. Ku, who was formerly Com-imports to register for service on Noven which the Australian ber 9 and November 16. The great have taken to the Eastern Group missioner of Finance for Kwang-transported by boat, car, human
have supply "Conference at New Delhi. majority of these men will
Australia is now within reach tung. is assistant manager of the carrier, or the post. They register reached the age of 35
articles manufactured 36, and a small minority will be of providing most of the materials bank. Owing to the absence of Mr. all goods passing through, and
Chur-tong, the Managing- confiscate not quité 35.
needed for defence and offence. Director, he is acting in Mr. Yih's in Japan and vital products des Therefore one group and a hall overcoming her deficiency in ma-
stead. The Chairman of the Board tined for places under Japanese will be left before another royal chine tools to an extent not
of Directors of the bank is Dr. H.control." proclamation
extending thought possible a year ago. registration dates is necessary.
The question of another royal proclamation does not immediate ly arise. Over three months have elapsed since the last registra-¦- tion. There is no information
further
but not
LONDON STOCK EXCHANGE.
A prominent London banker.
LONDON, Oct. 24 (Reuter) discussing the proposal with Reu- with regard to when the next age The Stock Exchange yesterday was ter's correspondent yesterday, ex- groups beyond the present call! pressed approval of the authori-will be asked to register but it narrowly irregular and business
"tles wisdom in taking this pre- caution. He also pointed out the following four practical advan- tages:
."
Firstly, metallic coinage is thus eksily augmented.
Secondly, the transport of notes is easier than the transport of coins,
Thirdly, manufacturing cost would be smaller and valuable savings in tin, zinc and antimony made possible, and,
Fourthly, the recall notes frum circulation at the end of the war would be easier than the re- call of silver coinage.
of
INCREASED COST
worker
and
season
OF TRAVELLING IN BRITAIN LONDON, Oct. 24 Reuter) The
the
ticket holder escape the six per cent in crease on existing railway fares which comes into force on De- cember 1, announced Col. Moore: Brabazon Minister of Transport, in the House of Commons yesterday. There will be no increase on the London passenger transport sys tem except for the coach service, The burden of higher charges will fall on the casual traveller and on the rates.
The charge were increased ter per cent in January last.
TRADES UNION
CONGRESS
LONDON, Oct. 24 Reuter)-Mr.
mot
may be several months.
As many of the men affected by" the new
аге registration reserved occupations, it is possible to estimate the number who will be available for Forces.
the
MARKED INCREASE IN U.K. EXPORTS LONDON, Oct. 24 (Reuter Despite intensification of enemy activity, the export of United Kingdom goods was fully main- tained in September.
This was the most notable fea
again was smail,
Home rails wer
were supported view
expected higher of the charges. Gilt-edged stocks, after
Yih
H. Kung, Vice-President of the In these war areas
and
are also "economic Executive Yuan,
are guerillas." They Under the direction of Dr. Kung organised by the war area econo- and in close cooperation with the mic commission and the economic Various government banks
guerilla warfare headquarters of other interested organizations, Mr. the provinces. The members work Ku sald, he will spare no efforts at the front as well as in the "oc- to develop the agricultural inance.
cupied" areas. on a nation-wide scale and to in- ercase the clency in the coh- duct of the farm banking, business
FRIDAY, OCTOBER 25, 1940 -PAGE
SAY
Gordon's
...and know what you're drinking/
GORDO
DRYGIN
DESTILLETY LONDON.
NO COLOURING matter
NO INJURIOUS INGREDIENTS
Besides examining exports and imports-to-prevent Japanese goods. from coming in and native pro- ducts from going out to enemy
territories, they also ALONG BURMA ROAD
271 early improvement, closed Military Training For controlled
around the previous levels,
Industrial leaders registered Communist Party
small gama.
penetrate" enemy lines to buy up native products which would otherwise fall into Japanese -hands.
this
GREAT ACTIVITIES
BATAVIA-JAPAN OIL NEGOTIATIONS PROCEEDING
SINCE REOPENING
LONDON, Oct. 2 (Reuter)"No KUNMING, Oct. 14 (Central)- Chinese importers and exporters agreement has been reached and Among the oil shares, Trinidad! LONDON, Oct. 24 (Reuter)
that Radio announces
Chekiang, for instance, has a
are showing great activity follownegotiations are still proceeding."" Petroleum Development advanced Moscow ls. a. to 48s. 9d following the members of the Communist Party bureau for the buying of all, silk.ing the reopening of the Burma declared Mr. R A. Butler la the House of Commons when question- Road. news that the company was seek of the Soviet Union will receive ramie, cotton, and tea.
ed on the subject of Batavian' dil One of
corps' greatest
the Despite
Japanese aerial ing authority to increase its can- military training and that special
supplies for Japan. units are being formed by local achievements was the saving last bombings, little damage has been tal.
Mr Butler added that both Bri- Burma Road and organisations,
August of 2,800,000 piculs of salt done to the Wall Street was firm.
tain and the United States 'Gov- stored at Yuyao, close to Ningpo traffic is uninterrupted. The first ernments were being kept fully in- In eastern Cheklang, when the convoy of trucks which left formed regarding the progress of enemy made a short-lived landing Lashio at 1207 am. following the the negotiations: near that port. By mobilising reopening of the Road have pass 10,000 local farmers in three days,ed through Kunming and are on SHAR BROKERS' ASSOCIATION
the corps transported the entire their way to the interior. THURSDAY
Baile Bayer
Salem stock. to a safe district-Central
News). 24 OCT
Banks
.!!
ture of the trade returns issued HONGKONG SHARE QUOTATIONS
yesterday,
September
Bellers kyo
Sales Nomina
The average value of exports STOCK EXCHANGE, per working day in actually exceeded the correspond- ing figure for August. The total exports of United Kingdom goods In September amounted to "£31, 100,000, which substantially ex- ceeded the total of £23,000,000 in September, 1939.
After a year of war, overseas trade. figures testify to the success of the British Exports Council's efforts to find and develop alter:
the of native markets in View prevalling European conditions. During the six months end- the ca August 31 this year.
to United Kingdom's exports countries outside Europe and the Mediterranean
had been above the year earlier, The aggregate increase for the period is £39,000,000 or about 20 per cent.
area
1930 H.K. Banks £67
2 Mercantile Bks. "A".
P10 Mercantile Rks. "C" $72
Bank of East Asin....
JAPAN DENOUNCES 1911 CONVENTION
The decision about the general character of any arrangement for the future rested with the Govern- East ment of the Netherlands Indies.
According to highway au- thorities, the Chinese section of the Burma Road had been Replying to further questions Mr. Butler, said there is complete repaired and widened during
closure co-operation between the Govern ..three-month the
result, period. As a
traffic "iments concerned is greatly facilitated... -Anti-aircraft units and repair
de- gangs have been dispatched
$1225
Do. Col. Reg.)
287"
Do. (Lon. Reg.)
£81
£7
Chartered Banks
ET
£247
£109
$79
50 ct.
TOKYO, Oct. 23 (Reuter)--The Japanese Government
has
$185
$385
81
$150
N. C. & A. Banks...
InsuranceS
$175 Canton insurances..... 387 Union Insurances...... 31 Underwriters
$1MH.K. Fires.
Shipping
$125
Douglasen
311
$10
$40
35/0
Shells
Steamboats.
Indo-Chinas (Pref.)...
Indo-Chinas "Def
26.90 Waterhosta ............
Docks. Wharves Godowns, etc.
.
$120
$100
$100
35/0
28.00
$80 1.K. & K. Wharves...
888.
+
#4.80 24 55
$15.90 $15
34 50 Providents...karmas HK. Docks (Old)..... $15.95 815.30 H.K. Docks (Now)..
$4.60 | 84.55
$24
14/0
18
George Gibson, General Secretary MARKET REPORT#
of the Mental Hospital and the
FROM ROZA BROS. Institutional Workers Union, was
Thursday, Oct. 24. unanimously elected the new chair- Ailver prices dropped 1/18 yes man of the Trades Union Congress.terday for both deliveries, the Gibson, who served in the last quotations being 23.7/16 for Ready war, has been one of the strongest and 23.3/8 for Forward. Silver advocate and supporter of. Con-advices reported the market 25 gress co-operation with the Gov-being quiet with nothing doing. ernment war effort.
American Silver was quoted at 34.3/4 for Spot.
H.K. STOCK EXCHANGE
The demand is sustained at cur- rent levels, in small volume owing to scarcity of offerings,
BUYERS
Docks (0), $15.90. Docks (N), $15.25. Providents, $4.55. Trams, $15.85.
Electrics (O), $36.75. Electrics (N), $38.50. Telephones, $23.25. Watsons, $8.90. Entertainments, $6,40.
SELLERS
Lands, $31.
SALES HK-Banks $1230.--- Union Ina., $387.50. Providerita, $4.55. Hotels. $3.20. Lands, $30.25
Watsons $9.
HONGKONG
SHAREBROKERS
ASSOCIATION|
Volume of Business Transacted on Thursday, Oct. 24, 1940.. SALES
H.K. Banks China Providents
Cements
The London-New York cross- rate was quoted at 402.1/2 New" York/London was quoted at 403. 3/4
MARKET
Steady but quiet."
STERLING
The market opened with sellers
at 1/2.31/32 resulting in a
small
1 /0
#91
$201 +Shanghai Dock........
Mining
Kailaps Ranks..
1 cts., Hong Kong Mines......
Lands. Hotels and Balldings
B.K. & 8. Hotels.......
Do. 4 Debentures.
#11 Shanghai Lands.......
Chinese Estates......
Cotton Mills.
$37 Ewo (8.)......
$3.20
830) #31"
H.K. Lands.
$100.
2.30
H.K. Realties..
$7.10
Humphreys
#100
business at 1/3 for Cash. At 115.65 p.m. the market closed with sell
ers at 1/3 for Cash and 1/2.31/32
1:
$8.35
$30,60
$100
t-:
$3.40
$7
8181
S'hai. Cotions (8.)....) Zoong Sings (3.)......
$38 #190
Wing On Textiles (8.);
$125
Public Utilities
H.K. Tramway. $15,86), 28.10
$3.40 Peak Trams (old)
$3.70 Pest Trams (new).....
$59j
$61
China Lighta (0)......
$6.40
China Lights (New)...
$361
, H. Blectrice Old ... Back
$26
H.E. Electric» Now)...] $38)
$17
Macao Electrics (Old)
$16
Maenn Electrics (New)
$11
January/February, buyers at 1/3. | $221 . #222
1/32 for Cash...
There were sellers at 23.1/8 for
U. S. DOLLARS
near and 23.1/8 December, buyers
at 23.3/16 for Cash.
SHANGHAI DOLLARS
Some business was done early $93
in the morning at 392.1/4. Later
business was done at-391.1/2-The market closed at 1 gm, with sell- ers at 391, buyers at 391.1/2
AFTERNOON MARKET Bellers of Sterling were" quoted at the opening at 3,51/64 for Spot and closed with sellers at 3.13/18 for Spot. U.S.$. opened with sellers. at 5.27/32 for Spot and closed with sellers at 5.7/8 for Spot.
AFTERNOON MARKET
The market was quiet in the afternoon.
STERLING
There were sellers at 1/3 for 5 $1,230.00
4.55 near, buyers at 1/3.1/2 for Cash. ... БОО
U.S. DOLLARS 500
18.15
Sellers at 23.1/18 for Cash and .500. 16.25
17.30 23.1/8 December. buyers at 23.3/10 37.00 for Cash,
Dairy FarmLS
200
HK. Electrica (N)
200
100
China Lights (0)
-200
37.25 8.85
2,205
The total value is $40.580.00.
SHANGHAI DOLLARS
Sellers at 391, buyers at 391.3/4. SHANGHAI MARKETI
Sellera of Sterling for Spot at 3.13/16 ald VBS at 5.7/8 Bellera for Spot.
$18
$16
$17
:
88.90
#
#
H
56:
1594 Star Ferries.......
Y'mati Ferries....
$95 31%
to GIFTS FOR PLANES
LONDON, Oct. 24 (Reuter) —– nounced the Fur and Seal Con- various points along the Road. vention of 1911 and proposed a Mr. Hhlen Chih-hsin, director More gifts for planes continue to conclusion of a new convention of the Southwest Highway Ad- reach Britain. with three other Powers concern-ministration, is on an inspection ed, a Foreign Office spokesman, tour of the announced this afternoon.
A Government statement reads that the other convention for the- protection of fur and scal was first concluded in 1911 among Japan, United States, Britain and Russia.
The Madras Governor's War Szechwan-Kwangsi Fund has sent £15,000 to buy highway. The Ministry of Com three 8pitfires," while the North- munications bas appropriated West Frontier Provinces Fund has funds for repairing the bridges now passed the £10,500 mark
the The name "Gibraltar" is to be and ferry landings along -Szechwad, Hunan and Kwangai given to a "Spitfire" subscribed highways to facilitate transporta for by British residents of The
tion.
Rock.
PRE-PAID ADVERTISEMENTS.
The following classes of advertisements are charged at the price given below:- SITUATIONS VACANT:
HOUSES AND APARTMENTS WANTED.
HOUSES AND APARTMENTS TO BE LET MISCELLANEOUS WANTS.
Announcements not exceeding 25 Words are inserted under this heading at a Pre-paid
If Charges collected, $2.00. Rate of $1.50 för THREE INSERTIONS.
WANTED TO BUY
WE PAY HIGH PRICES for all gold and silver articles. gold bars, diamonds and jewels. Apply China Gold Refining Co. Pedder Building, 2nd floor, Room 6.
#29)
WE OFFER HIGH PRICES for $8.70 $6.40 any amount of gold articles, diamonds, silver, etc. No holidays. Apply China Building, 7th floor. Tel 30727. Eurasia Gold Refining Co.
HOTELS
RUSSIAN CUISINE MORE POPULAR EVERY DAY METROPOLE HOTEL
FOR SALE
For Sale Fifty sets of Jubilee and Coronation Stamps 1st day Cover. What offer? Please apply to Box No. 4 c/o The HK.D.P.
TEA, DANCES
Tuesdays
Thursdays
Saturdays
Sundays
5 to 7.30 p.m.
ENGRAVERS
FEI FEI & CO. Photo Engravers
"18, Cochrane Street....
Telephone No. 22224,
|$23,76 39.30
818
$6
300
$17 $0.80 $1.80
Sandakan Lights........
Telephonen (old)....
$0.55 Telephones (new)...
S'pore Tractions(Ord.1 Industrials
$14.00 Cald. Macg. (Ord.) Sj $12 Cald., Macg. Prof.)9.;
01 Canton Icas...
Cements
$8.30. H.K. Ropel
HK. Gort Loans $99 4% Loan 896: 81%
:(1934).
(1940)...
Miscellaneous Dairy Farms..
$6.80 Entertainments 81.60 Constructions (old).
Constractions (new)...
$7.46 Lane Crawfords.....
Nanyang Tobacco...... $33.
WANTED KNOWN
ORDERS TAKEN for hand-made
50 ate,sweaters, Ladies' jumpers, Babies! outfits, etc., at $5.00 each for workmanship..
Wool and model desired, to be 98. supplied by customer.
Send particulars of, address, etc., to Box 502, HK.D.P.
The "WE" have an outstand- Ing assortment of latest American dresses for all occasions and price. to suit all purses. Call at "Vanity $2.20 Shop (Lazarus) Fedder Street. ».
Experienced Book-keeper Wänts Students to form a class. Charan- tee students to keep a whole set of books after completion of a course of 6 months. For Term and Par
Please Apply to:-Box ticulara No. 402 c/o HKDF.
YOU
"Are Invited to Inspect Our
Stock of
Asiatic, Foreign and
Colonial
POSTAGE STAMPS In-Bets, Single, Parkets, Bags and in Approval Sheets.
GRACA & CO.
Dealers in Postage Stamps, Philatelic Goods, Picture Postcards, Religious Goods, Garden Seeds, & etc. No. 10 Wyndham Street P. O. Box No. 620.
Hongkong.
AUCTIONEERS
GREATEST COLLECTION OF BARGAINS IN TOWN!
LAMMERTS AUCTION ROOM Lamber," Belin Bern pa
Head Coated Teleptoni · No. 20224.
Jimmy's
.91
$8,15 Sinceres en
Watsons
ni
€8.00
36% Ch. G.5% 19250 de
28
$39
$14
H.K. Wing On
S'hai Wing On
Vibro Pilingimusi.
1/6 Marsmans Inv. (Lon
2/9 Maremans Inv" (HK)
Wm, Powalls...
Bale to Shanghai
E