HONGKONG. DAILY PRESS
United States
Defence
Programme
H.K. STOCK
EXCHANGE
The undertone of the market during the week was firm with holders refusing to part with scrip at current levels, and buyers still hoping to get bargains. With the
Fears Of Inflation approach of December, (the divi-
Expressed
WASHINGTON, Nov 29 (Reuter) A decisive step forward in the United States defence programme was indicated' when "a financial pperation of large proportions” was announced by the Becretary of the Treasury, Mr. Henry Mor gehthau yesterday.
He stated at a press conference that the operation will be con nected with defence expenditure and will take place early month.
Mr. Mergenthau explained that it would consist of one or mote of three types:
Firstly. raising new DJONES. Secondly, refunding $875.000.000 of notes due on March 15; Thirdly.! redemption of $544,000,000 of bands which already have been called in.
WORKING BALANCE The Secretary added that the United States (Treasury's working balance
$1,000,000,000 was below
EX-
for the first time in a long-period. With regard to the widely pressed fears that the heavy de
expenditure might entail fence Inflation in the United States. Mr. Morgenthau declared that he id not fear inflation while Presi- dent Roosevelt was at the White House,
Questioned concerning the possi bilty of financial aid to Britain. be said that he was not ready to express any views on this subject.
dend month prices may be expect- ed to harden.
BUSINESS DỔNE DURING
- THE WEEK. Union Ins, $395, $393)
Waterboats, $7. Docks (0), $16.30. Providents, $4.65, $4.70: Humphreys, $7.20. Realtles, $3.45 Tramways, $18}," Star Ferries, $58.
China Lights (0), 381 X.D. China Lights (N). $8.40. X.D.
·Electrics (0), $374, Cements, $16,60..
Roped $6.70, $83F, 58.80.. Watsons, $9.60. :-.
11 BUYERS
Docks (0), $16.30 Providents, $4.70.. Realties, $3.35. Trams, $18.50.
Yaumati Ferries, $22.25. Lights (0), C.D." $6.90. Lights (N). C.D. $6.60. Electrics: (0), $38. Electrics (N), $37,50. Telephones (N), '$9.75., Cements, $16.90. Dairy Farms, $17.50 Watsons, $9.35. Wm. Powell, $1.65. Entertainments, 6.60.
*SELLERS
Hotels, $3.50. Realties, $3.45... Watsons, $9.65. Vibro Piling, $7.80.
SALES Electrics (0), $38.. Watsons, 19.50.
FINANCE
Finance and Commerce
MONEY AND EXCHANGE
CLOSING QUOTATIONS
NOVEMBER 29,"1940-
On London:-
Telegraphic Transfer. 1/2 7/1 Bank Bills, on demand 1/4 7/8 Credits 4 months' sight'
On Shanghai:-
On demand
On demand
300.
On Singapore:—
On Japan:~~~ |ê
On demand
K2 3/
10+
On India:-
Jer. 1/2
Telegraphic · Transfer
and demand.....
On New York:-
Bank Bills, on demant 23 1/8 Crediis, 60 days sight 24
On Batavia--
On demand
On Paris:-
43 14
Bank Bills, on demand Nom. Credits 4 months' sight Nom.
On Salgon:-
On demand
On Manila:
On demand On-Bangkok-
Fukien Progressing In Economic Reconstruction
Considerable progress. has been made in Fuklen during the past six years under the administration of Governor Chen Xi and econo- mic reconstruction of the province is now proceeding apace, de clared Mr. Hsu Hauch-yu upon his arrival here: Mr. Esu, a well- known German-trained sngineer, is a member of the Fukien, Provin cial Government and President of the Fakien Provincial Bank.
BIG LEAP IN BRITISH SPENDING
In the first six months of the current nancial year Britain's
In order to push the economic reconstruction of the province and increase its productive capacity, Mr. Hau said, the Fuklen Provincial Government has mapped out h to comprehensive 5-year plan, supervise the execution of which a committee composed of experts is being set up.
Mr. Han revealed that at present total ordinary expenditure has there are four government-operated reached the colossal figure of enterprises in Fuklen. They are £1,610,135/76. Last year in the the Fukien Provincial Bank, the same period, which included less Trading Company, the Development than a month of the war, the Company "and the Transportation country had spent £562,026,216, Company. approximately a third of this
... 100 1/4 year's figure.
On demand
48 1/4
1912
On Sterling Notes:-
Bank Buying Rate Bar Silver per 08,
Not
Market Report
FROM ROZA, BROS,
Friday, Nov. 29 Silver "prices were unchanged yesterday, the quotations remain ing at 23 for both Ready and Forward. Silver advices reported the market as being quiet, with business done. American
no
HONGKONG SHARE QUOTATIONS was quoted at 34.3/4 for
SHAREBROKERS', ASSOCIATION
Do.. (Col. Reg.) ....
Steady.
*
MARKET
STERLING
སྐ
The total ordinary revenue in the past six months was 2452,518 411. This is £1,157,385 less than the expenditure.
These Agures were disclosed Treasury returns recently.
LOANS TO FARMERS The Fukien Provincial Bank. of which Dr. Henry H. P. Chin is the Managing-Director, undertakes - to adjust the provincial finance, with special emphasis on such transac tions as the granting of credit loans to farmers, workers and The estimated total ordinary ex- merchants, and the handling of penditure for the full financial overseas Chinese remittances. Soll year which ends on March 31st eltous over the welfare of the over- next is £3.486.790,000, and the seas Chinese, the bank is affording estimated total ordinary revenue all factHties of obtaining loans he $1,380.191.000. Figures show that their families in the province.
M Hiu emphasised, on the Im- the revenue coming into the Ex chequer is remarkably' satisfactor 7portant role the overseas. Unthese No rewer than nine items show i can play in the development of an increase of revenue over the, Fukien. He said that the 'Bukien corresponding period for last year Provincial Government welcomes their contribution in both invest- ments and technical assistance
LONDON STOCK EXCHANGE LONDON, Nov.
29. (Renter)—
VARIOUS WAYS Various ways in which the re- Spot.
The London-New York cross-venue has increased "are interest- rate was quoted at 4021/2. Newing. The excess profits tax makes Fominal York/London was quoted at 403-a welcome contribution of £26,- 382,000. Side by side with this is 3/4.
the National Defence Contribution. On the Stock Exchange yesterday, which has yielded £10,930,000 the day's feature was gilt-edged although this sum is actually securities which made further pro-
that receiveogress in active trading. 210,000 less than
Indian Government stocks ap- from NDC. last September.
By next March the income-tax prociated considerably - on, good
local buying. payer is expected to contribute al- Cash, together. $510,500,000, and so far Mans foreign bonds, notably le has paid £85.11.000, which Brazilians, were again higher an increase of £42.101,000 over the white a revival of interest in Jap- at £53,010,000 which be had paid up anese and Chinese issues resulted
at this time last year.
STOCK EXCHANGE,
Pyare Bellers
dules omine
FRIDAY
Bayer
Boiler
20 NOV,
Banks
B1270
H.K. Banks
$1976
£73
*£67
Do. (Lon. Reg.) .....
*£97
£7)
Chartered Banks
Επι
25
Mercantile Bk», "A".
P10 1/
Mercantile H. "C".
£10
873.
20 ot.
$185
1:399. 30
80 ct
$150
£3024
$4,70
$470
$18.40
$31
C.D.
$221 16.90 $8.60 G.D.
$38
9371
$01
:
$13
Bank of East Asia........
N. C. & S., Beaks...............
Insurances
8186 Canton Insurances...... ...Union Insurances......
Underwriter......
$150 H.K. Fires.......
Shipping
$135 Dougla
$11
Steamboats
$100 Indo-Chinas (Pref)...
$0
33/9
*$7
Indo-Chinaa (Det.)
Shell.......
Waterinals
Docks. Wharves,
Godowns, etc.
$9 H.K. & K. Wherres...
Providents.
#15 39. H. K... Docks (Old)...........|
$18
H.K. Docks (New)..
$3+Shanghai Decks..
18/3 Kailana
Mining
$94 Baub...........
|}} eta Hong Kong Mines.....
131
Lands, Hotels and
Buildings
$4,70 | #4,90 | B470
1. *
H.K. & B. Hotels....... $3.20 H.K. Landa.
1159 Do. 4% Debentures....
Shanghai Landı.........
$3.45 H.K. Bazities....
$7.20 unsphreys
$10 Chinese Entales.......
Cotton Mills
IR $39 Ewo [8.)
#
:
$1658h Cottons (8.)...
Zoong Bings (9.).....
768
Wing On Textiles (8.
Public Utilities
#30.50
$7.18
***
$136
There were sellers at 1/3 Novems ber-January, buyers at 1/3.1/32 for Cash,
U. S. DOLLARS Sellers
for at 23.1/2 buyers at 23.9/16 for Cash,
SHANGHAI DOLLARS
arranged various rates. The market closed, with sellers at 402, buyers at 403.
SHANGHAI MARKET
Business
W25
Burtax at £11,690,000 is £2.790
·000 up, and estate duties at £40,
Sellers of Sterling were quoted 840,000 show an increase of £830
8100 at the opening at 3.45/64 for 000.
$100
33/9
$7
Spot, Later the rate rose to
Customs and excise together are
3:47/4 and last advices reported estimated to yield £522,900,000 mm sellers at 3.33/32 for Spot. . . the fun year. Both have already Dollars opened with sellers at done extremely well and custome $89 8.25/32 for Spot and closed with st
sellers at 5.27/32 for Spot.
$16.40
$16,00
$31 25
16/3
18
-
#
والحمد الم
411!
$100
AFTERNOON MARKET
The market was extremely quiet! in the afternoon. -
STERLING
£144,863,000 is £12,229,000 ahead of last year, while excise at £85,100,000 £23,850,000 ahead
Rather.
onotat surprisingly vehicle duties show an increase of £982,000, their total being £9,493.-
There were sellers at 1/3 Novem-000 compared with £8,511,000, In ber/January, buyers at 1/3.1/32 the full year £35,000,000 is expect
from them. Stamps, which are an tor Cash.
Indication of Stock Exchange an Small business was reported at tivity; show a decrease of £1402. 23.9/16 for forward. The market 000, their total being. £7,528,000 closed with sellers at 23.1/2 Cain, beside £8,930,000,
U. S. DOLLARS
$3.45 buyers at 23.9/18 Cash.
1839.50
$165
SHANGHAI DOLLARS Seffers at 402.1/2, buyers, at
403.1/2 for Spot. ·
- SHANGHAI MARKET Sterling, last advices Indicated $125 sellers at 3.23/32 for. Apet and. D. 8. Dollars at 5.13/10 sellers for Spow.
HONGKONG
SHAREBROKERS
ASSOCIATION
Volume of Business Transacted-"
on Friday, Nov, 29, 1940.
SALES
AS. Watsong
in good gains elsewhere
Wall Street lower
WEL
kregularly
SATURDAY: NOVEMBER 30, 1940. -PAGE
EVERYBODY'S
Favourite
"BLACK&WHITE"
KIRIN
B
E
E
R
The
Choice of
The Multitude
Sole Agent H. HONDA &
Tel. 20720.
At), Jikenstein Brud, Bhuis hen
PRE-PAID ADVERTISEMENTS.
The following clame of advertismente are charged at the price given balano z SITUATIONS VACANT. HOUSES AND APARTMENTS WANTED.
HOUSES AND APARTMENTS TO BE LET. MISCELLANEOUS WANTS.
Announcements not exceeding 26 Words are inserted under this heading at a Fre-pald Bate of $1.50 for THREE INSERTIONS. If Charges collected, 82.00.
TO LET
TO LET.-Furnished Room, North Point near bus, tram stops. Tele- phone 32510.
WANTED TO BUY
627
WE PAY HIGH PRICES
for all gold and silver articles,
500 $ 9,50 gold bara, diamonds and Jeweln. China Providents .....: 500475 Apply China Gold Refining Co.
Shanghai Exchange HK Electrics (0) 24 38.00 Pedder Building: 2nd Bode, Room 6.
H.K. Tramways................ | $16.60) $7.40 Peak Trama (old)....
$3.70 Peak Trams) (now).....
$40 $3.70
Star Ferries. $57.00 I'mati Ferris.... China Lights (0).... China Lights (Now)..
$24.75
$3.00
$0.76
i
Longun New York
Shanghal, Nov. 29 (Reuter).
Official T.T. Kates
Opening 0/3-11/18
HK. Lands
}RK, Tramways ro
Japan India
$24.50
89.75
H. K. Electrics (Old)... $87.75
H. K.-Jection New)... $37,50
$174 Macho Klectrics (Old) $18 Macao Electrica (New) $11 Sandakan Light... #241 Telephones (old)....... Telephones (new)...... S'para Tractions (Cel ↑ Industrials 814.90, Culd., Maog. (Ord.) 8: 12 Cald., Many. (Prof.)8
Canton Ice....
Cements?
1.K. Ropes
HX. Gort Loans
$384% Loan
(1994)... 11940)...*
Miscellaneous.
$1
$16.80
161/ 10.80
$34 31%
04 87%
+
Dairy Farándu
Entertainments
LED Constractions (old)...
150 ate.
عمه
$6,50
$17.50
$3.60
{;"་
but 5-3/4
24-3/8 20-3/8 N° Hongkong... 24-1/2
$16.90]/85
Spot .Nov. Dec.
98
Spot
305
Sterling
Rellers
Opening Closing 0/3-45/64 0/3-23/32 0/3-45/64′′ 0/3-23/32 /3-11/16 073-45/64 US. Dollars
$5-25/32 $5-13/16
Nov, .....5-25/325-13/16
Dec. 5-3/4
Market: Quiet.
5-13/16
Milver Duty Rate. The Central Bank of China's
#1.80 | rate om London at 10 am, today
vas 1/2-1/28. 日
The Equalisation rate was 21
€171. $660
$1
Constructions (new)...
19
Lane Crawfords..........
Nanyang Tobacco...... $3,25
Sinceres
$2.20 per cent.
$8.25. $9.65
Watsons Join CELEBRAT
$9.00
25°
Ch. G.5% 1925G3 Bda
25%
139
#39
India Rupee Paper
$14
Bombay, Nov. 28 (Reuter).
$1,05
K. Wing On......
B'hai Wing Un Vibro Piliog
7/Margate Inv. (Lon.) 2/9 Harian Inv. (H,K,))
Wm. Powalli
†Sale to Shanghai:
-
8 Govt, 31% Rupec, 92-10-0.
$1.25 Calcutta Exchange
Calcutta, Nov 28 (Reuter):
T.T. on Japan, 81-1/4.
31.20 18.50
100 75
1,199 The total value is $12.384,50.."
LONDON METALS
EXCHANGE *
Tin,
London, Nov. 28 (Reuter).
Standard, Cash, Middlë
Price, £258-1/8.
WE OFFER HIGH TRICKS for any amount of gold articles, diamonds, silver, eta No holidays. Apply China Building, 7th floor. Tel: 37727. Teräsfs Gold Refining
WANTED KNOWN
ORDERS TAKEN. for band-made
Tin, Standard, 3 monthe Middle sweaters, Ladies' jumpers, Bables'
Price, £280-1/8
Market steady.
BROKERS
LOANS
New York, Nov. 28 (Reuter),
Loans on securities to brokers in New York:
outta, etc., at $5.00 each for workmanship.
Wool and model desired, to be supplied by customer.
Bend particulars of address, etc.
to Box 502, HKDP.
The “WE” have an outstand- Wk-ended W-ended Wk-ended ing assortment of latest American 23/11/3921/11/40 28/11/40dresses for all occasions and price $404,000,000 $314,000,000 $339,000,000 to suit all parses. Call at "Vanity
Shop" (Lazarus) Fedder. Street.
RUBBER QUOTA
FIXED
LONDON Nov 29 (Reuter)=
Experienced Book-keeper Wants Students to form a clasa Charan- tee students to keep a whole set of
BOTEZS
RUSSIAN CUISINE
MORE POPULAR EVERY. DAY
METROPOLE HOTEL
·TEA” DANCES Tuesdays
Thursdays
Saturdays
Bundave
5 to 7:30
TAILOR
LAM SHIU SHEK
- 334, Nathan Road, Kowloon, Tel. 5'712. Guaranteed delivery -1- guit in 24 hours notice and 8 hours for a pair of trousers.
Just Received Stanley Gibbons Postage Stamp Catalogues
for 1941
Whole World
Part 1 British Empley Part II Foreign Countries Simplified.
GRACA & CO.
Dealera in Postage Stamps, Flowers and Vegetable Seeds Picture Books.
No 16 Wyndham-Street:
The International Rubber Eegula- books after completion of a course Establisheit 1896, tion Committee fixed the quite or 6 months. For Term and Par- for the first quarter of 1941 Lentara Pipase Apply to Bar 100 per cent.
Hongkong
ENGRAVERS
FEI FEI & CO. Photo Engravers
18. Cochrane Street, Telephone No. 22224,
BARI UNS IN ROWS
LAMMIKUU SACERO
Jimmy's
BUTTERICK
Expert Ladies -Tailor. New Style Ready Made Dresses FOR SALE,
15. Wyndham. Stront
Tel 23815