Lest Sale
MTOCKS
Aug. 30
7*
The Majority report was signed by Messrs. E. D. Shearn, F. Bolton,
It is therefore, one of our re- Yong Shook Ln. C. B. Thurstan, commendations that even at
the "D. Farquharson and S. B. Palmer. risk of temporary Inconvenience to the public, Government should
while the Minority
report was
made by A. Arbuthnott, R. Bird, act with ruthless severity in every R. Boyd and M. C. Hay
case in which an officer of the
found
to the transaction-the giver
OT present and the Bittings were held in public in the bribe the Federal Council Chamber at receiver.
American Cyanamid B Kuala
W Lumpur. Mr.
There would have been little or C. B.
Amer. & Foreign Power ... Corry (MC.8.1 was Secretary to no corruption in the Mines De-
& Foreign $7 pt. Amer the Commission.
partment if those associated with mining had refused to give bribes Amer, Locomotive Co.
Amer, Metals or presents.
Amer. Radiator
of Alleghany Steel Co.
Alle Chalmers Amer. Can
237
20%
PACE & HONGKONG DAILY PRESS
F.M.S. Mines Corruption Inquiry Report
MEN CONNECTED WITH INDUSTRY SHOULD NOT BE APPOINTED
The appointment, at any rate for the next 12 months, of an officer of the Malayan Civil Service to bend the Mines Depart- ment, the forbidding of an officer of the Mines Department to to be connected with. hold any mining interest in Malaya or
in Malaya, the directly or indirectly, the mining industry punishing with loss of pension of officers in the Mines Depart- a consul.. ment if they are discovered practising in Malaya 39 tant or otherwise connected with the mining industry in Mala- the Mines De- ya for five years after their rotirement from partment, are among the main recommendations by the Major- ily and Minority reports of the Commission of Inquiry appoint- the conduct and ed by the High Commissioner to investigate management of the Mines Department. F.M.S..
the Federal Council meeting recently.
Further principal recommenda-
The
ᅡ
FINANCE & GENERAL
Finance and Commerce
H.K. Stock Exchange
Monday, Sept. 1.
BUYERS
H.K Banks, $1440.
Canton Ins., $230.
HK Pire Ins., $186.
H.K. Steamboats. $8.50
Wharves, $90.25,
Providents, 26.60.
| MARKET REPORT ||
FROM ROZA BROS.
Monday, Sept. 1. The price for Ready Silver was quoted at 23.1/2 and Forward at 237/18. American Sliver was un- quoted.
The London-New York Cross rate was quoted at 402,1/2. New York-London was quoted at 433.
1:4.
Qaler
MARKET
STERLING
There were sellers at 1/3 up to October, buyers at 1/3.1/32 for Cash
MONEY AND EXCHANGE
CLOSING QUOTATIONS SFPT BER 1, 1941.
in Shanghai:-
On demand
TUESDAY, SEPTEMBER 2, 1941
HONGKONG SHARE QUOTATIONS
SHAREBROKERS. ASSOCIATION
1 SEPT.
Banks
Balleri Buyer
Somiz
STOCK EXCHANGE.
Bayw Bellure
Last
Belak
MONDAY Nomical
$1440
81425
.K. Banksmpne
$1420
r+s
£78
£83 STA
£231
!
$76
Do. (Col. Reg.)
Do. (Lon. Reg.)
(borted Banks
1231 | Mercantile Bku. "A", 8118 | Mercantile Bks. “C”.
Bank of East Asia...........
$90
N. C. & 8. Banka.....
Insurances
Canton InsTANCES Union Insurances. Underwriters
H.X. Fires..
Shipping
Banglase
| Steamboats
Indo-Chinaa (Pref.)..
$70 Indo-China (Def.)
61/104 Shalls
$75
17'ct.
་ མ-
$230
$430
8435
175 eta)
8185
$185
$120
$8
$90
#70
51/104
On London:-
Telegraphic
Transfer, 1/8 7/0
$230
8230
L&L
Bank Bills, on demand 1/2 7/8 Credits 4 months' sight
$439
81
$185
$185
FI
On demand
460
n Bingapore-
$190 884
On demand
62 3/4
..... 102 1/4
86.55
Transfer.
Docks, Wharves.
82 5/8
Godowns, etc.
B001
201
66)
H.K. & K. Where Providenta
8901
201
$16.30
#16
H.K. Bocks (Old)... H.K. Dooks (New)
$16
Jo Japan:
›n India:-
Docks, $16.50,
Hotels, $3.60
Lands, $36 25.
and tabled al
Humphreys $7.
Realties, $3.50.
Trams, $17,10.
Commission records
that
Yaumati Ferries, $23.
Lights (O). $650.
U. S. DOLLARS Selling rate 1/16.
to Merchants 25
In New York:-
SHANGHA]
DOLLARS
tions are that great care should Government should take a serious be taken in personnel
for
cars
of recruitment of ❘ view the
any Cases brought
notice :n the Mines Depart-1ts
which the ment, that the employment of and belongings of officers of the persons who have already bad Mines Department are found mining experience in Malaya
Services should not, ir the fustance, be employed in Malaya but should be sent to another ter- ritory.
have been raffled. The attention
MINORITY REPORT
fore Jothing the Department of all officers of the Department; should be discouraged, that in no should be drawn to General Or
should case
pers me who have der 114 (1). been engaged in or in connexion with mining #12 Malaya be re-
The Minority Report adds the cruited for the Mines Depart-
tollowing observations and recom inent, and that in any case, can
who have been recrusted mendations which are not refer didates
Repor locally for the Culonial Mines red to in the Majority
of the evidence In the course Aral
Commission, Te by the heard ference was made to the auction- and household ing of furniture ellects by officers prior to going such sales on furlough. While may be perfectly genuine, they open up possibilities of the most Insiduous purchase by persons in the mining Industry of such effects at prices far in excess of their value in the hope of securing the favour of the officer concerned.
In the course of their sittings, i
Committee made
inquiries Into the performance of the duties entrusted to officers of the Mines Department in the F.M.S. with particular emphasis on the allegations that officers and ser vants of the department had re ceived bribes, llegal gratifications, secret commissions or other pay-
form of bribery the
Many witnesses
who admitted
ments, or gifts made corruptly or givate presents gave them not Insproperly, or had engaged in with the idea of obtaining some.. transactions for private pront or thing to which they were not en- had invested money in the local titled but with the Idea of keep- mining business or had otherwise ng on friendly terms with the acted contrary to the duties of 21 Mines Officials. Chinese wit public officer of Government.
nesses repeatedly asserted that it
The commission was appointed | was a "custom" to give presents and on Sept. 13, 1949. It consisted of to Europeans at Christmas Messrs. E. D. Shearn (chairman), they saw little harm in it.
M. C. Hay (M.C.S.) R Royd For а proper understanding of (M.C.S.), R
M.tise problem of bribery and cor
Bird
(M.C.S.).
Park, A. Arbuthnott, Young Shook ruption it is neessary to appre-
14ghts (N), $1.65. Electrics (N), $21.
Electrics Rts.. $11.10. Telephones (01. $23.25. Telephones (N), $9. Cements, $15.25 Dairy Farms, $19. Watsons, $11.50.
SELLERS
Lands. $37 Electrica Rts., $11.25
SALES
H.K. Banks. $1450. Bank of East Asia, $70
Wharves $90,75.
Providents, $8.75.
Lands, $36/36,50. Lights (0), $0.50.
Electrics (0) X Ris. X.D. $22 Electrics IN). $21,25. Electrics Rts.. $11.10, is Telephones (0), $23.50. Telephones (N), $9. Ropes, $9.45/50.
Dairy Farms, $19.10/15, Watsons, $11.75/80
Sellers 508.
SHANGHAI MARKET
Open market, carly advices ported sellers of Sterling at 2.31/32 &t but later the rate was quoted 2.15/16 for Spot. U.S. Dollars was Bt reported early in the morning 6.1/32 but advices received towards lunch tinic reported the market as being a bit easier at 4.15/16 for Spot
AFTERNOON MARKET
Quiet.
STERLING
There were sellers at 1/3 up to October, buyers a 1/3.1/32 IDE Cash
U S. DOLLARS
Selling rate tu Merchants 25.1/16
SHANGHAI DOLLARS
Sellers 504.
SHANGHAI MARKET
Open market sellers of Sterling
at 2.29/32 and U.8. Dollars at 4.7/8) fur Spot.
NEW YORK STOCK EXCHANGE
STOCKS
Lin, C. R. Thurstan, D. Farquhar ciate the motives of both parties Adams Express
501 and S. B. Palmer.
QUOTATION
(REUTER'S SERVICE) AUGUST 31, 1941
Johnsmanville
Kennecott Copper Labbey-Owens-Ford
Telegraphic
and demand
Bank Billa, on demand 24 15/16
Manfs:-
On demand
On Bangkok:----
On demana
On Sterling Notes:-
Shanghai Exchange
Japan
India
Parts
Spot
0.8. Deltare
..... $4-15/16
Sept. ...... 4-15/16
Market:-Uncertain.
Silver Duty Bate
Central Bank of China's
Credits 60 days sight 25 5/8
On Batavia:-
On demand
46 3/4
On Paris:
re-
Bank Bine, on demand Nom.
Credits 4 months' sight Nom.
#3
In Saigon:-
On demand
106
49 7/8
$3.80 336
$3,60
836 897+
13/6
+Shanghai Dooks.......
Kailnos
$71 Rebe
Mining
2 ote., Ung Kong Minsa......
Lands. Hotels and Buildings
H.K. & S. Hotein.... $8.80 H.K. Lands..............
!!
261 $18,40
$301
13/6
ཟ
77
#71 C.DS
EMA
€3.60
$535
Do. 4% Debentures.
442
897€
148
#904 Shanghai Lands.
17
H.K. Roaltion.
Ba
Humphreya
17
Bank Buying Rate Bar Silver per os.
Nom.
$100
Chinese Estates........
23 1/2
Cotton Mil
$42
444
Ewo (8.)
$42
8205
S'hal Cottons (8.)...
$305
Zoong Sings (8.)......
Shanghai, Sept. 1 (Reuter).
Official T.T. Rates
$17
London
Opening
0/3-5/82
#3)
8511
New York
5-5/16
$23
#!!!
Wing On Textiles (8.
Public Utilities
{ $17,20 H.K. Tramways.. Peak Tram (old)..
$125
$17.20
Peak Trams (new).......
Star Ferries
I'mati Ferrian..
$491
3281
unquoted
$0.35
时
Chinn
Lights
(0)
8.20
$0.20 .25 ..
17-1/2
$1.05
$1.30
Hongkong.
unquoted 21
X.Rts. 822
C.D.B. K. Electrion (Oidi...
China Lights (New)... $1.70
$1.00!
X.R.
€28
0213
H. K. Electrios(New).....
$21
$11.10
$11 10
H.K. Electrio (Rie) 11
#11
Sterling
$18
Macao Electrics
Bellers
Macro Klectrics
Spot
Sept.
Opentik Closing 0/2-15/18 0/2-29/32 0/2-15/16 0/2-29/32
Sandakan Lights......
$234
$83
894
Telephones (ald)....
Telephones (new)....... #8
Industrials
$23
845
Cald., Maog. (Ord.) 8.
***
$36
Cald., Macg. (Pref.18.
$4-7/8
1
4-7/8
$16.10
$15
Canton to..
Cements
815.15
$0.35
.K. Ropes na
$9.35
H.K. Govt. Lonne
$101
14% Load
75 ats.
$9.25/1.35 ...
$101
Last Sal
The
890
134%
(1984). $98
$99
Aug. 30
rate on London at 10 am, today
"
98
呢
(1940)....
LAR
684
was 1/2-1/24.
Miscellaneous
38
The Equalisation rate was 24
$18.80
$18.80
Glass
272
per cent
821
Lockheed Aircraft
291
#61 $1.80 80 otá
40**
92
Loew's Inc. Martin, Glen L, Oo. Montgomery Ward
37
291
HONGKONG
$6.45
351
132
National Aviation
92
SHAREBROKERS
#21
*****
Dairy Farms.
$19
Entertainments co
Constractions (old).....
194*
Nat, Dairy Products
15
ASSOCIATION
$42
BL
National Distillers
241
$29
Amer. Rolling Mul
142
Nat, Fower & Light
51
Volume of Business Transacted
Amer. S'ting and Ring Co. Amer, Sugar Refining Amer. -Tel, & Tel.
42
National Supply Corp.
TA
on Alonday, Sept. 1, 1941.
$7.20
8/3
183*
New York Cential
13
SALES
1/0
1551
Niagara Hudson Power
21
China Lights (0)
1,000 $ 6,50
$13
Amer. Tobacco "B"
70*
N. American Aviation
154.
500
6.50
At the date of this report, no Mines Department is fewer than six officers and ex-have accepted a bribe or valuable officers of the Mines Department present.
Dismissal and to Teaser
Amer. Waterworks
事
North American Co. (New)
131
100
8.50
to
have been prosecuted and convict penalty should be the normal re- Baldwin Locomotive Co. ed since Aug. 15, 1940, in respect suit of such an offence.
Anaconda Copper Atchison, T. & 8. Fe. Aviation Corp.
234
Northern Parifë
7
600
6.50
281
Packard Motors
3
100
6.55
31
Pantepec Oil Ven.
4*
China Lights (N)
200
1.72
154
Paramount Pictures
15
China Providents
2,000
0.75
are
stil!
sub
of offences under section 165 of
the Penal Code.
Those prosecuted include Mr. A. G. MacDonald, an ex-Acting Chief Inspector of Mines, Mr. A. E. P. Kershaw then the Chief Inspector of Mines, and Mr. A. T. Bennetts then a Senior Inspector of Mines.
IN CHINA
Fear of a shortage of civilian
Five out of the six prosecuted and army food may be allayed, sald pleaded guilty. In addition, pro- | Mr. Hsu Kan, Minister of Food, to ceedings against two officers of CENTRAL NEWS in Chungking. the Department judice.
ACCEPTING GIFTS
Budd M'facturing Corp.
Baltimore & Ohio
44
Pennsylvania RR
231
1,500
6.75
Barnsdall Oil
101
Phillips Petroleum
447
600
8.80
Bendix Aviation
38
Pullman Ine.......
27*
Dairies ...
584
19.15
FOOD SUPPLY
Bethlehem Steel
097
Pure Onl
91
HK, Docks
200
17.00
Kiss & Co., E.W. (com.)...
161
Radio Corpn. of Am,
4
H.K. Mectrics (0)
600
23,00
Boeing Airplane Co.
201
Reading Company,
Com
161*
H.K, Electrics (N)
05
Borg-Warner
20
Remington Arms Co., Inc.
4X
21.00 564 21.25
Briggs Mfg. Co.
20
Republic Aviation Corp.
32
B.K. Electrics Rts.
200 11.16
4
Republic Steel
201
300 11.15
the
has
Mr. Hsu said that concrete mea- sures for the collection, purchase Columbla Gas & Elec....... and transportation of food in Commercial Credit Co. various provinces have been map com, & Southern Ord.)... The Commission is satisfied that ped out and will be enforced Consolidated Edison Co.
habit
beeri general rigorously in order to ensure a Consolidated Ol throughout that Department, but sufficient supply in each province. Copperweld Steel
Canadian Pacific .................... Celanese Corp. Chesapeake & Ohio Chrysler
48
Reynold Tobac. "B"
321
117 11.15
261"
Schenley Distillers
174
100 11.20
38
Shell Union of .....
14
HK. Telephones (Ny
250
9.00
Constructions (W)... Lane Crawfords........ zen Nanyang
Sinceres Watsons
Tobacco... $31
Ch. G.5% 102503Bds. 4.K. Wing On...... S'hai Wing Up... Vibro Piling......
Maranans Inv. (LOD.)
Marsmans Iny. (ILK:}; We, Powells,
N.A. Chemicals (HK) 85.00
+Bale to Shanghai
MR. V. G. BOWDEN
SYDNEY, Sept. 1 (Reuter) - The
Australian Trade Commissioner to China, Mr. V.G. Bowden, has been appointed official Australian re- in Singapore with presentative authority in political, commerelaj and administrative matters.
HONG KONG TIDE TABLE From 2 to 8 Sept. 1041.
HIGH WATER.
He will be assisted by the Com Tues. mercial Secretary and Political Officer.
The United Kingdom Govern- ment had welcomed the move,
LOW WATER
Houg
Trang trong trong
Kong
Standard Time
$0
$1.05
38.45
$21
28.
$14
Days of
Month.
Days of
Week
681
Bocony-Vaeanum O
01
A.S. Watsona
1.,500
11.80
22
Southern Pacific
141
200
11.80
24-
Bouthern Rly $5-pfd. .......
30%
200
11.75
Spicer Manufacturing Co.
36*
18
Standard Brands
51
Humphreys Ropes
133
7.10
200
1,000
9.45
57
Standard Gas & Elec......
17+
1,100
$.60
14,749.
-15
Standard Oil of N.J.
434
500
9.45
OF ART IN RUSSIA SAFE
in view of the graver matters be-Preparations for collecting land tax hurting Wright (C) fore the Commission it has not in kind and issuing food bonds are Distillers Corp. (Seagrama) been thought necessary to record being made energetically by dif-Douglas Aircraft evidence in detail concerning terent provinces. these less serious derelictions of
duty.
Du Pont de Nemours...... Food in stock in Chungking, ac-Eagle Picher Lead The Commission desires how. cording to Mr. Hsu, Is suficient to Elec, Autolite Co ever to record that the practice meet the demand for a month.
of officers of the Mines Depart-
ment accepting such gifts from-
persons engaged in mining is re- CHINESE WORKS FintBote**
prehensible in the extereme and that steps should be taken by Government to put an end to this practice.
The breach of General Order 114 (1) which forbids afficers of
Word has been received from the Goodyear Tire & Rubber... Government to raffle their bo longings appears to have been so Soviet Commissariat of foreign Great Northern Iron Ore common that it might almost be Affairs through Mr. Bhao Litse, Great Northern Rly, più sald that such raffles have become Chinese Ambassador to Soviet Rus- Great Western Sugar In the Mines Department a cussla, Teassuring that the Chinese Inter, Nicke) tom for usage,
works of art, recently exhibited at Inter. Paper & Power The raffles have usually been Leningrad, have been removed to attended with the additional ob place of safety: together with tection that they have been con- the treasuries of the Hermitage ducted by officers of the Mines Muscum
Anxiety over their safety, it is Department themselves or by their subordinates om thetr behalf learned, has been aroused lately among Chinese miners In the dis among the owners in view of the trist in which the offloor owning approach of the Germans in their Medar has been stationed drive on Leningred
1941 High Low Dow Joner Averages Aug. 10, High Low Close
197.48 188.50 110.30 BO Industrial 30.88 26.54 30 Halls Wor 20.65 17.88 18 Utilities 99.10 89.60 40 Bonde
Studebaker Com
171
Swift International
221
742
Technicolor
155)
Texas Corpn..
4
Trans-Americs. Coqui
281
20th Cent, Fox Film, Com:
B
Elec Bond & Share
24
Union Bag & Paper Corp.
11
Elec. Band & Share $5 pt. Elec Bond & Share $6 pf. Elec. Power & Light 57.pf.
541*
Union Pacific
813
597
United. Aircraft
411
34
United Airlines Trans
11
16
United Corpn.
0/16
Gen. Electric
924 United Corpn. 33 cum pf.
23
10
TO
Gen. Motors
301
United Gas Improvement
79
Gen. Rallway. Bignal
15
U.A. Rubber
25
and TIENTSIN
Gen. Tire & Rubber ... Goodrich (A.F.)
131
US Steel
198
Vanadium
251*
198 Vultee Aircraft
17
Walworth Co.
51
201
Warner Bros, Plot.
EX
201
Westinghouse Elec,
271
Woodward: Iron Cor.
251*
ip
Tel. & Tel. (Fon Is)
Chase National Bank National City. Bank
DOW JONES AVERAGE DE
Aug. 31, 1041.
The total value 18 $148,301.45.
INDO-CHINA
STEAM NAVIGATION COMPANY LTD
Operating Services for Cargo.and Pusscogers
BWATOW, SHANGHAI, TSINGTAU, CHEFOO
KOBE and OSAKA
SINGAPORE PENANG and CALCUTTA
SANDAKAN
HAIPHONG
"All stemmers borth alongsichi the Roosevelt Terminal in the French Concasulont Shanghai, where passengers
and cargo are landel.
For further particulars
please apply to t
Standard
Time
h. m.
b. m.
ft. la
06.14
50.24
Wed. 3
07 17
711
.00 34
21:01
1415 6
Thu.
4
08:10 12
21 34.
.5-3)
14 62
5 13.2.
Fri.
7.2 02 16
Sat. B.
2201 0940
1593
16.02
02 07
500
9.45
28:32
9.45 Sun.
Mon.
10:21
03 30
1057
10.99 8.51061019
2.6
28 19
10 11 10 62 196
Height
1842
6.4 29.85
Chango
30.07
10,00
* 197878 187.41-197770......... 10,19% 20.00% 20.10 18,70 15.70_18.73
12 up
70.03 65.65/1 Commodlay Index 78.00
(90.00 NO UP
Budinca Den 230,000 alin res