HONGKONG DAILY PRESS
Finance and
Commerce
CHINA'S DIRECT TAXES Increased
COLLECT BIG REVENUE Production Of
Revenue collected by the Direct Taxation Administration have broken all previous récords, Receipts in October already exceeded the budgeted amount by $1,000,000,
* The amount collected up to October 24 was $76,402,857.84 ms against the $75,240,000 expected for the whole year. The Administra- tan expect to have collected between $85,000,000 and $100,000,000 by the end of the year.
Foodstuffs
FINANCE & GENERAL-
NEW FACTORIES IN
KWANGTUNG
Under te Reconstruction Department of the Kwangtung Pro- vincial Government, a number of factories have been established in those parts of the province yet free from invasion,
Largest of them is one for the Manufacture and repair of ma chines, which was established more than a year ago with a capital for other factories in of $110,880, Aside from making machines Kwangtung, it has produced 3,000 wheel-harrows estabħsàrd I Chan Transportation Administration number of all lampa.
The factory is operating in full; force now as a large stock of tren stored at the workshop of the Ningyeung Railway has been turn-
Another is the factory for mak
BROADCAST APPEAL TO. FARMERS LONDON, Nov. 27 (Reuter) The unexpectedly fine result is such as the valuation of property. attributed to two factors; pros Out of 93 districts where branch Appealing to farmers for increased over to it recently. perity in Free China and the ex-offices of the Administration are ed production of foodstuffs Mr. tension of the Administration's functioning. 62 have organised RS. Hudson, Minister of Agricul- ing dry, batteries, capitalised at valuation committees accor-ture, broadcasting last night, said $33,000, in view of the difficulty in From the profit tax alone, the dance with the government regula-that the effort Britain must now obtaining raw material supplies, t Administration up to October 24 tions. So far four parties paid such make to cover shipping losses of is making only dry batteries for
been collected $35,450,724.90. The 1940 tax which amounted, up to October the war is greater than had budget called for $24,000,000. Im-24. to $2.295. The Administration contemplated in May or August posed in 1939, the tax yielded $- hopes to collect $2,000,000 this "but it can be done." 900,000 that year,
activities to a wider area
Over 48 per cent of the receipts. have been income tax collections, which so far have reached $36,539. 958.44
i
1year.
to
in
was $10.240 000. (Central News).
ashlights at present. However, it is expected that it will soon be able to turn out batteries for telephones and radio broadcasting: stations.
TOILET SOAP
for the newly and the same
FINANCIAL AID TO BRITAIN
MODIFICATION OF JOHNSON ACT
PROPOSED
WASHINGTON. Nov. 27 (Reuter -The impression that po action would be taken this sesalon to-, wards modification of the Johnson Act which dentes financial assis rance to Great Britain was given by Senator George.
Mr. Hadson said that when ships The collection of stamp tax came
were lost by enemy action Britain within the sphere of the Direct lost not only cargoes they were
A suap factory, established. In Taxation Administration in Jane carrying but cargoes they would March last year and capitalised at this year.
As stamps are being have carried or future voyages $76,000, is producing 20,000 cattles yesterday
post Revenues from income Lux since sold through
offices .it. In addition, every ship taken of toilet soap and 10,000 cattles of Chairman of the Senate Foreign difficult 1936 have been 13 its inception i
ascertain at a $8.437.271.14 in 1938, $20,238,439.29 given date the amount already to support the war effort in the medicinal soap per month. It re- Relations Committee, In a talk to in 1937, $8,604,273.92 in 1938 (owing sold. On October 24, reports receiv-Mediterranean and Middle East, cently received an order for more reporters.
ed indicated that $4,409.879.50 in meant one ship less to carry food than 3,000 cases of tallet soap from
milltary the
In headquarters stamp tax had been collected. The and feeding stuffs.
"We have to think not only of: Kwangsi. amount listed on the 1940 budget;
Ċther factories include one for the situation
today but what be might well
this time
next making absorbent cotton capitalis
ed at $53000, one for making farm year." he concluded,
Implements capitalised at $54.000,
·SYSTEM OF FIXED PRICES
a paper mill capitalised at $42,000, LONDON, Nov. 27 (Reuter)-The an alcohol distillery rapitalised us Minister of Argiculture told the $76,000 and a pharmaceutical fac- House of Commons yesterday that tory capitalised at $160,000:
Plans are being made. tor the it has been decided that the pre
fixed prices and establishment" of a match factory sent system of assure markets will be maintained (Central News). for the duration of the war and for at least one year afterwards. The Government, he said,
33
to the change of the period nf fiscal year, the amount represent ed collections for six months only), and $31,748,969.98 last year.
Income tax occupied sixth place in 1938 anong national, revenues. The Canadian cutput of gold in which included, by order of im July set up a new high monthly portance, customs, salt, consolidat-record at 456,626 ounces valued at ed, tobacco and wine and stamp $17,580,101. In June, 451,277 ounces tax. It is in third place this year. were produced, while in July, 1939. Although inheritance tax was the output' totalled 439,925 ounces. imposed beginning July 1, nothing During the calendar year to date was collected in the ensuing few Canada produced 3,028,568 ounces in the with 2,929,894 months owing to the necessary compared procedure governing Its collection, corresponding period of 1939.
HONGKONG
STOCK EXCHANGE,
TE-
SHARE QUOTATIONS Cognises the importance of main-
SHAREBROKERS". ASSOCIATION
Ballers Bayer
EV
Woma
WEDNESDAY
27-NOV.
Banks
H.K. Banks
Buyers Betiora
Sales Nominal
11973
£73
£65
erk.
Mersatile Bks. "A".
Do. (Col. Reg.)
Do, (Lon, Reg.)....
Chartered Banks
225
210 1/16
Morcantile Bka. “C”.
Bank of East Asia..... N. C. & S. Banks......
Insurances
Canton insurances.....
Union InsurANCES.
Underwriters
$73
#185
-8306
$1
$11
$100
$80
35/7
24.05
$18.30
$16 833
H.K. Fires..
972
::
$1875
£72
£3h+
£95
£10
taining a healthy and well-bal anced agricultura) programme after the war.
LONDON STOCK EXCHANGE.
HANKOW BANK TO CLOSE
Business Consolidated
With S'hai Branch
SHANGHAI, Nov. 27 (Reuter --
THURSDAY, NOVEMBER 28, 1940. -PAGE
Product of Australia
TOLLEY'S
效
Pure
Grape
BRANDY
AN EXCELLENT AUSTRALIAN BRANDY
AT AN
- EXCEPTIONALLY
LOW PRICE.
Obtainable at
all wine dealers,
Sole Agents:
DODWELL & CO., LTD.
SILVER MARKET
LONDON SILVER
CHINA NAVIGATION INSTITUTE
Senator George said that the Committee would consider Senator King's resolution to modify the
London, Nov. 26 (Reuter).
With a view to promoting ship- Johnson Act and Senator Nye's!
Silver--Market quiet and feaping services in China, a China proposal for an investigation into tureless. Eusiness negligible. In Navigation Institute was formally British holdings of securities in the afternoon, the market was organised in Chungking with Dr. the United States but indicated that both subjects might be left quiet, with no business. to Sub-Committees.
Immediate legislation for giving financial assistance to Britain was described by Senator George as "impractical and somewhat prema- ture.**
NEW ENGINEERING PROJECT
The Kwangsi Provincial Governi
ment has sent a group of engineers
to Nanning to draft a new en-
gineerig project for the city, which
Spot, 23-1/16d. Forward, 23-1/16d.
HH. Kung. Vice-President of the Executive Yuan, Mr. Chang Kla- ngau, Minister of Communications, and Mr. Ku Cheng-kang, Minister. of Bocial Welfare, as honorary.exe-
BOMBAY SILVER Bombay. Nov. 26 (Reuter). Market Quiet but steady. Off-cutiver take. 75 bars.
Indian Mint Silver Ready... Dec. 27 Settlement Jan. 22 Settlement
61-11 61-11 .61-11
East Africa To Float
War Loan
More than 100 ledding figures of the communication circles attend.. ed the inaugural meeting yester- day. Mr. Wang Kwang, represent- ing the Ministry of Communica tions, delivered the principal speech, in which he said that con
struction of more ships, standar- disation of shipping charges and opening of new navigation routes. are the three main tasks of China's NAIROBI, Nov. The entire proceeds of the first navigation today(Central News). A new police force has also been. East African War Loan, which is
will provide necessary repairs for damaged buildings and erection of new municipal structures.
27
(Reuter)-
LONDON. NOV, 27 (Reuter) A Only the Hankow branch of the general improvement in Elit National City Bank of New York organised and sent to Nanning for to be foated on Dec. 17, will be Governor yesterday when he open, edged securities, and selected in-will close next month, it was peace dustrials imparted a cheerful sen- learned here. yesterday.
20 ct.timent while the partial removal Because of the abnormal zuide
of dealings in certain Canadian foreign securities is widely wel comed though resulting in few.
$185
$300
80 ct dealings. .
conditions it has been decided to a consolidate the operations of the Hankow office of the Bank, with that of the Shangha! office.
Among mines, De Beers pre- The Hankow once is closing on Ierred were featured, advancing Dec, 12 and after that date all accounts still remaining would be
$160
$135
from £8.3,8 to £9.1/8.
8:00
$100
35/7+
$6.60 higher.
$80
$4.65
$18
$18
#317
16/3
$8
+
X.D.
3150
Shipping
$135 Douglases
Steamboats
Indo-Chinas (Pro)..! Indo-Chinas (Def.} Shells
| 86,80 | Waterbosta .................. Docks, Wharves.
16/3
Godowns, etc.
H. & K. Wharves... Providents
H.K. Docks (Old)..... II.K. Docks (New)....
+Shanghai Dock......
Mining
Kallang Raabe
cts. Hong Kong Mines. Lands, Hotels and Buildings
$31 $100
H.K..& 8. Hotels...... FL.K. Lands...] Do. 4% Debentures..... Shanghai Lands......... $3.45.K. Realties... $7.20 Humphreya.....
100 Chinese Estaten..
--Cotton-Mills
Ewo (8.). S'hai Cottons (6.)... Zoong Sings (8.).....
Wing On Taxtiles (B.
Public Utilities
$161.K. Tramways... $18 $7.40 Peak Trams (old)....
$3.70 Peak Trans (new)...
Star Ferries...... | $57 Y'mati Ferries........
Chins Lights (0)....
X.D. $6.40 China Lights (New)..
$371, Flectrics (Old)... 887; $378, K. Flectrics: Now]
$31
$45 8105
$59
P
$3.20
831
$100
$3.45
$7.15
:
$37
#172
Macao Rlectrics - (Old)
#161
Maco Electrics (New)]
$11
$24
Sandakan Lights......
Telephones (old).........
Telephones (now)..... S'pore Tractions (Ord.?) Industrials
$14.00 Cald., Macg. (Ord.) S 1-Cald., Macg. (Pref
Canton Ica,
Cements
ILK. Ropes
H.E. Govi, Loang
C.D.
E
50 sta
816+
$6.40
195
X.R. 8404 $165
$125
$3.70
$224
Elsewhere the trend was frm transferred and all communica-
tions in connexion though business was light.
with "then
Wall Street was Irregularly should be addressed to the Shane-
hal office
CHINA'S WARTIME ECONOMIC POLICY
News).
preservation.
(Central re-lent to the Imperial Govern-ed the budget session of the Legis-
ment. This was announced by the lature here.
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 Rate of $1.50 for THREE INSERTIONS. If Charges collected, $2.00.
TO LET
TO LET 1st Floor, Homantin
HOTELS
RUSSIAN CUISINE MORE POPULAR EVERY DAY.
$26
China's economic policy during the adoption of a managed paper Street, No. 23. Please apply Com-1 the period of resistance," formed currency many people criticised pradore Department, Mackinnon the subject of a talk given by Mr him as too idealistic but it has now Mackenzie & Co. Phone 21881. Sun Fo, President of the Legislative been proved that had not China Yuan, at the weekly memorial enforced the legal tender, policy, service at the National Govern- she would not have been able to TO LET-Furnished Room, North men: Headquarters with Mr Lin carry on the war to the present Point near bus, tram stops. Tele Sen, Chairman of the National date.
phone 32610. Government, presiding.
The salient points of Dr. Sum's economic programme include:
(2) Food Control Policy. Dr. Sun advocated not only government control but also sale of food as fluctuations of food prices in the market seriously affect the people's velihood. In view of the unrea
.627
WANTED TO BUY
METROPOLE HOTEL
628
POSITION VACANT Mr. Burt declared that China's
WANTED-European lady steno- wartime economie policy as her
grapher wanted immediately. Can- policies in other fields of work,
didates should apply in person to should follow the bequeathed
WE PAY HIGH PRICES the Chief Clerk, Colonial Secre- teachings of the late Dr. Sun Yat sen, Father of the Chinese Re-sonable rise of food prices at pre-for all gold and silver articles, tary's Office. $7.40 public.
sent Dr. Sun's food control policy gold bars, diamonds and jewels.. should be enforced without delay. Apply China Gold Refining Co
(3) Land Policy. The object of Peäder Buliding, 2nd floor, Room 6.j this policy is equalisation of land (1) Currency Policy. The, legal rights. Private landowners should tender policy adopted by the Na-declare the value of their land to tional Government in 1935 which the government. The government is based upon the currency policy should levy tax according to the laid down by Dr. Sun has sustain-declared "value, and in case of ed China's resistance for the past necessity, may purchase it at the three and half years. It is recalled price so declared. When necessary, thal wheri Dr Bun advocated the nationalisation of Innd will be abolition of metallic currency and enforced. (Central News).
O.D. #6)
#
8241
10%
98%
$1
$16.00 86.40
#98 14% Loan
-
(1034).... (1940)....
$17 $6.00
$1.86
#17)
$6.00
$1
39
391
-*
$94 31%
$94 33%
Miscellaneous
Dairy Farms...........
Entertainments. ......
$1.80 Constructions (old)..
Constructions (new).......
Lane Crawfords.....
Nanyang Tobacco......
2.15 Binceres ....
Watson kaik
35. Ch. 0.5% 19260$Bds.
H.K. Wing On iet
39
B'bai Wing Un......
Vibro Piling
7/8
2/9
·Margmans · Inv, (Lon)
Marsmans Inv, (HK)
Wm. Powells............ 4Sale to Shanghai,
#
H.K. STOCK EXCHANGE
Market
was slightly steadier with more enquiries.
BUYERS
Providents, $4.70. Trams, $16.40. Yaumati Ferries, $22.25. Eights (014), 38.40 x.d. Ropes, $8.55. Wm. Powells, $1.35 "Entertainments, 36.60.
SELLERS Watsons. $9,75. Vibro Piling, $0.
SALES
Union Waterboats, Ropes: $6:70
HONGKONG
SHAREBROKERS'
WE` OFFER_HIGH PRICES for any amount of gold articles, diamonds, silver, etc. No holidays Apply China Ballding, 7th floor. Tal 30727. Eurasia Gold Reining Co.
WANTED KNOWN
ORDERS TAKEN for hand-made sweaters, Ladies' jumper, Babies' outfits, etc., at $5.00 each för workmanship.
Wool and model desired, to be ASSOCIATION supplied by customer.
Volume of Business Transacted on Wednesday, Nov. 27, 1940,
SALES
China Providents
Cementa
Send particulars of address, etc. to Box 502, HK.D.P.
That We have an outstand- 50034.70 ing assortment of latest American 500 4.70 dresses for all occasions and price 500 18.70 to suit all purses Call, at "Vanity
Shop" "(Lazarus? Pedder Street. 500 18.70 -50416.60
7:00
H.K. Electrics: (0.)
HK Electrics (N)
20
24 37,50
37.501
23
Union Waterboats"
200
2319
The total value is $26.217.50
Experienced Book-keeper Wants Students to form a class. Guaran- 37.50. tee students to keep a whole set of books after completion of a course of 6 months. For Term and Par ticulars. Flease Apply to:---Box Në (442 e/o E.K.D.P.
WANTED FOR CASH-One Baby- Grand Piano, must be in good con- dition. Apply Box 632, H.K.D.P.
Just Received Stanley Gibbons Postage Stamp Catalogues
for
1941
Whole World:
Part I British Empire Part II Foreign Countries Simplified.
GRACA & CO. Dealers in Postage Stamps, Flowers and Vegetable Seeds Picture Books." No. 10 Wyndham Street Established 1880.
Hongkong
TEA DANCES. Tuesdays
Thursdays
Saturdays
Sundays
3 to 7.30 pm.
ENGRAVERS
FEI FEI & CO. Photo Engravers
18, Cochrane Street, Telephone No. 22224, ̧
AUCTIONEERS,
GREATEST COLLECTION OF BARGAINS IN TOWN; 20 LAMMERTS AUCTION ROEM | Lamnery, Brother -- 2. Cognata, st Bad Cita el. Tuléphonie No. 20124.
Jimmy's
BUTTERICK
"Expert" · Ladies Tallot.
New Style Ready Made Dresses FOR SALE.
16, Wyndham Street
TAILOR
LAM SHIU SHEK 334, Nathan Road, Kowloon, Tel 57712
23615.
Guaranteed delivery 1 suit in 24 hours notice and 6 hours for a pair of trousers.