THE HONGKONG TELEGRAPH, WEDNESDAY
COMMERCIAL
The Great War Lond. not provide a sent towards the For the City there has been current cost of the war. The only one topic in the past week, money represented by theas con- namely, the British War Loan versions has been spent already, that is to be officially issued on and more, must be rained if we Friday, saye Truth of January 10. are to beat the enemy. Fortun We have grown so used to big stely, there is solid ground for things in this war that it needs hoping that this loan will prove something more than a mere state to be the loan of victory. It now ment that the new loan will be, rests with the public to give each in the matter of sime, something; a response to the loan that not new in history to strike the im- only will it meet the needs of the agiantion. I will avoid adjec, war to an extent that will render tives and give one or two figures. ; « further big War Loan unneces- The loan is being issued primari sary, but will give a conclusive ly, of course, like most other proof to both our enemies and loans, to reino fresh money, and our Allies of our determination the amount of fresh money that in to win raued will be the measure of succese. But the greater portion of the new stock to be crested will
per ceat.
Commercial and Produce Markets,
London, Jan. 10.-The Bank rate remains unchanged at 6 per cent. The Open market rate for short loane is 41 to 5 per cent and discount for four months' Bank bille 5 per cent. The Silver market has been quiet, and bara
NEW.S
Colton Gambles.
1
Yara la Manchuela.
FEBRUARY 21,
HONGKONG SHARE REPORT.
A-SELLERS; BA.—SALES; B-HUYERS; N-NOMINAL.
Sugars
OFFICIAL PRICES.
BANKS.
$710
Gi..
I
$975 t. 180 $900.
1917.
BANKS.
BANK OF CANTON, -
LIMITED.
HEAD OFFICE, HONGKONG
FOREIGN EXCHANGE and
General Esaking Business
Transacted
INTEREST ON FIXED
DEPOSITS:
For 3 Months-3% per annum,
For 6 Months 4% per antum.
For 12 Months 41% per annum LOOK POON SHAN;
1.301PEAK
Chief Manager.
NOTICE.
NOTICE.
TRAMWAYS CO. LIMITED.
TIME TABLE..
WEEK DAYS:
106 sau Evror ij kinnies 10.00 $1
#1.10 4.3. ka thas p
H
ཀ་
33-
1.sa voi kada ming yiyo tan te
ezno zlatz weery kúli bower
avery quarter of a best-
SUNDAYS
EJ
n,
$255 $3671
SHIPPING.
8A.
B
$112 $19
Д.
$126
#
11,
106/-
b.
$99
REFINERIES.
Malabons
E.
1.
$118 $93
MINING
11.
36/-
B
1.
$2,40 28/- 28-
DOCKS, WHARVES, GODOWNS, &C H. K. Wharves s
7:04 AM, 10
1.00 AM, 10 10.00 AM, SC XX de A.M
$89
TEGI JAMI ta
$126
SALE PANEL TE Jag ha $42 POR, to Ring that
+1
3
"
n.
L. 82
6.JE TV, to 5:00 8.Ko
THE FIN 12
P
10
LANDS, HOTELS AND BUILDINGS.
MIGHT CARS
$39
$
$107
2-19 4.
b.
$91
b.
$6,50
IT 1) AM. 30 "mon Koom
11.
$33
.00 Neo# in
+
13 that
EL.
6.
t. 86 $73
แ
* 10
- FA
+
6) PINI P
+
€1
to
COTTON MILLS.
п.
t, 145
6.
t. 12
b.
110
t. of
I
MISCELLANEOUS.
b.
China Light & P. b.
$734 $1,60
$9.00
Dairy Farms
的事。
$24
Green Islands
H.
H. K. Electrics K Ice Co. Ropes
b.
$49
LA
$160
.
$10
• $7,20
$9,83
31
$15
b.
$8
... to xogo sim. Irony 10 misuton
10. 10 AM TO 12,00 à 3.
14. H
MAGHT CARS м on Week Days
BATURDAY
Extre Car a ta midnight.
SPECIAL CARI,
Be Arrangement at the Company's + 3516. Alaosaden Buldings, Duo Taur Road,
"Sesson and_punch tickets available for all car
already fall, wasniegst the lime sinted in the Company's time tables, but not for special car. Can
be obtained on application at the Compary's Q
No Benson ticket will be issued wotil pas ment than
BANKS
HONGKONG & SHANGEDI
BANKING CORPORA
TION,
Paid-up Capital .........$15,000,000 RESERVE FUNDS:
Sterling
£1,500,000 at 2/-
$15,000,000
Silver $18,000,000
Reserve Liability of
Proprietors...m
$33.000,008
.$15,000,000
COURT OF DIRECTORS.
Has, Mr.CE. Auton
W. & Fuctesde. Reg.-Chairm
8. H; Dodwal, Zag-Deputy Lbairons
G. T. X. Labina, Lag
08) Gubbar, Lag
Hon. Mr. P.
Halyoak.
E. V. D. Parr, Eag
J. A. Masumar, Eq.
Son, Mis X.
_CHIKT MAKAREI
Hongkong-N., Stabb, Sec.
MANAGER
Ehaoghal-4., Stephen, Esg Londos Beaker-Landon County and
Wentminster, Simitede
Hongkong-Interest Allowed i
Os Current Accounts at the sie of 2 per cent
andum on the daily balanes,
ON FILED DEPOSITS.
For I munka, I per cent per annum. For & such per cent per ann For months, 4 per cent, per KADES, N. J. STABB,
Chiof Manager
HONGKONG SAVINGS BANK.
TEX Bevicas of the shove Bank le conducLIE 2 the HONGKONG AND SHANGHAI BANKING CORPORATION, Kalm may be obtained os applicatie INTEREST of deposits as aliowed on the mo imum monthly balances at fyi per cent, par ses
Depositor may transfer, their option, belecer of $100 or more in the Hongkong, sed Shanghai Bank to be placed on FIXED DEPOSIT NE 4 CIL. DAT LAGUN
For the Hongkong kod Shangbai lanking Corpore tion.
N. J. STABB,
Chief Manager.
THE CHARTERED BANK OF INDIA, AUSTRALIA AND OHINA
Incorporated by Royal Charter #57
HEAD OFFICE-LONDON.
Paid-up Capitalen, waamin
Ecsere rund
Reserve Liability of Proprietors£0.00
FOREIGN EXCHANGE and General Banking
business transacted.
CURRENT ACCOUNT opened and FKET DEPOSITA Peived for 1 year or shorter perioda, na este which will be quoted on application,
T. C. DOWNING,
Manager
Hongkong, 11th April, 1912.
for has been made in Emak Kone or by CTHE Comprador peder representing Dark Fores
JOHN D. HUM FÆREYS & CO.
PROVIDENT
THE CHINA $11,40
LOAN AND MORTGAGE
Tishing Flour Co.
Japan's Gold Specle. As previously reported, the According to the latest invesi- Maccharis Flour Mill at Tishling igations of the Tokya, Finance is to open a new branch at Tairan Department, on January 31, and also at Newohwang. · Al Japan's gold specis amounted Antang the company will station to Y.713,000,000, X.274,000,000 one of its officials at the Chinese being held in Japan and Agency there. In order to pro 7.489,000,000 abroad. Compared care the additional capital, Y5 with the previons returns issued Banks will be called on every subscribed on January 25 the portion held MARINE INSURANCES. share in March as passed at the in Japan shows a decresas of Cantons recent general meeting. This will Y1,000,000, while an increase of North Chinas supply Y100,000 Moreover, the Y3,000,0GCO is shown in the port-Unions management has applied to the ion held shroad, or an increase Yangtazes n. ex. 79 $935 authorities concerned for per- of T2,000,000 is the aggregate, FIRE INSURANCES, mission to found a branch mill at
China Fires 11. a certain plaos which will be kepi
H.K. Fires secret until the desired permission is obtained, rays the Manchuria
When Germany proposed peace pouglases Daily News. The new factory is near the end of last year, cotton Steamboats Japanese Coai in Nawail. The supply of Japanese cosl in to have a producing capacity of yarn at Ouka was pushed down Indos (Def.) be for conversion purposes. There the Braiian islands during the 400 koka of wheat per day, the from Y190 to 170 odd. Little indos (Pref.) ara catetanding in round figures six months ended December 31 same as the main plant at Tishling. | speculation was made on the Shells £900,000,000 of 4 per cent. was estimated at 65,340 ton and For working funds there is still market and the dostostions were Ferries War Stock, £335,000,000 of 5 | was carried by fourteen steam-Y300,000 of the subscribed very elight, bringing a boat & dull Exchequer Beads, ships. Daring the same period capital available for call, which business. Still the gaststion was £160,000,000 of 8 per cent. Ex-Australian coal arrived at Hono-amount will quite suffice for the romewhat higher than in the chequer Bonde, all of which carry lala only to the extent of 6,919 purpose.
antebellum times, asys' the Man- the cption to be converted into tone and only one sleamebip was
churia Daily News. The Chiness the new stock, and, in addition, required to carry it. The per- Bass Truth of Janusty 10:- merchants in Manchuria appar. Kailans €1,100,000,000 of Treasury Bills,centage of Australian coal was One or two farther complaints ently felt, the risk of extensive Langkats the bolders, of which will be only 10 per cent. of the whole have resched me from persone buying and
Raubs withheld from Tronohs
Chinese Urais given the opportunity of funding, importe during the period and unable to obtain the profits dae purchasing towards in cther warde, of handing over the remaining percentage repre- to them from Mandevilles, year end, continues the Tairen their bills in exchange for the seated Japanese_goods. The Limited, in connection with the paper. The volume of businest new long-dated stock. It may be prices of coal at Honolulu have gambles dignified with the name dose fell short of half the taken for granted that the whole advanced steadily since the war of "estion options." The firm bave smount of the previous year. Kowloon Docks of the 4 per cent. War Losa sad began. Previously the average pleaded that they cannot
6. keep Now that the season of Spring Shai Docks the balk cf the 5 per cent. Ex- prices ranged between $9 and up with ledger work as in normal demand is drawing nester, some chequer Bonda will be converted, 48 50 per ton, bat in March, times," but it is probable that a revival is expected. As the Chin whilst one-third to one-half of the when there was a record boom in shortage of cash, not a shortage of ete dealers have shied at forward Treasury Bille may also be fund-the market in the islande, the clerks, is the real difficulty, It contract transactions, they find H. K. Hotels
Centrals ed. Considered, then, merely arétage prices stood at $19.50. is a difficulty that is indeed bound themselves short of stock. Most Land Invest. 18 s conversion loan, the operation Even at the close of last year to arise if lock happens to of them seem disposed to par- H'phreys Est. will' marks. momentose step they stood at $15.75.
favour the public. As I have chase just enough to meet the K'loon Lands in British finance. Exactly what
previously
these demands next Spring. As matters S'hai Lands explained, the terms of issue will be we shall
precious "options" are merely stand they cannot get over their West Points learn only when the prospectus
beta on the market quotations misgiving about the fatars, and comsa out. It has been no easy
recorded in the newspapers, and lack enthusiasm to enter into thing for the Chancellor of the
the business may go on more or contracte. la Manoburis last year's Kung Yiks
Ewos Exchequer and his financial
less smoothly so long as the losses, bumper crops have evidently Shai Cottons advisors to decide what those
of the backers collectively are equipped the masses with larger Yangtszepoos terms should be. They have had
largely in excess of any individual porchasing capacity, and already to try and balance two powerful
winnings from the firm, who stand the first signs of general opposing forces. On the one hand
in the position of bookmakers. It reanimation are visible in the Boracos they have had to make sure in are now qucted ai 367d. per ox. is therefore doubly "s mug's interior markets, and things pro-Providents advance that the loan would The rubber share market bas game" for the public, for there are mise to be livelier in the interior, present attractions Pufficient, not shown a firm tendency, and fairly first, long odda against their win although not so bestling as last merely to win the support of the good taying orders have been inning at all, and, secondly, long Autumn. man who pats patriotism before evidence. On the Stock Exchange odds against their getting their pecket, but of the man who, even Chinees and Japanese Bonds have money if they do win. Some when appealed to by the than exhibited firmness, the former times I am asked whether I can The latest official report of the Steel Foundries derous voice of the enemy's guns being influenced by the satisfas recommend a good firm in the economic position of French Indo-Trams, Low Levein. oballenging our existence as a tory Customs collection for 1916, colton market for this sort of Chine shows a quite satisfactory Trams, Peak, old an ration, is content to put pocket and the latter by the further business Surely it ought not to state of affairs, in spite of the war. Trams, Peak, new a before patriotiam. On the aber concellation of bond. of be necessary to say that it is a The trade figures for 1915, while U. Waterboats b bend, they have had to keep the 44 per cent. loene. Is sort of business which is entirely registering a decline on Watsons sternly balore them the neccsei's China Tea there has been outside the province of the mar previous year, are still in ex
greater with this loan than say fair business pseeing at firm ket. Genuine cotton firma do of 1913, and there has been con- other because of its long term sad prices. Coffee bar met with good nut speculate in "fatures" with siderable commercial activity dur- record size of conceding too demand, and prices are firm to any Tom, Dick, or Harry who is ing the past year. The min- mach. Not merely on the ground dearer. Sagar continues in good prepared to send along a few ing industry of Tong-King. of the expenes to the nation-no demand at firm prices. Peppers shillinga or a few pounds, and for example, has developed, emall consideration-but because have been dull and lower. Rice the transactions into which these notwithstanding of the effect that would be pro- maintains a firm tone. Masila innocents are lared by the bucket The Tong-King coal duced upon investment stocks Hemp remains firm, but slow. shop fraternity have no more generally which have been waiting Plantation Rubber has been fairly actasl relationship with the mar for the new losa to determine the steady, with a good basiness. ket in cotton than with now yield standard. The issue of Standard No. 1 Crepe is now market in calomel. 5 per cent. Exchequer Bonde, gooted at 3s. (il per lb., and
Rabber. of course, withdrawn, has not made the task easier, Fine Hard Para is 3. 314d. per ket in Rubber shares has been Loudon January 10.—The mar- because, while these bonds were | lb. Straits Tio in 181 5e. to quieter than is asus) at this time still is the fact that in spite of T/T 2/412 only a stop-gap expedient, baring 181 10a, for cash, and 183 to of the year, the attention of in the lack of capital the shortage Demand........ ́a life of three years, they' ware | 4183 51. for three months.
vestors, no doubt, being fully of labour in certain regions, and 30 dia. apt to set up in some minds false
American Cotton. ocoupled with the coming War the dificulty of transport, the 60 dia. ideas of the standard of British
The intest Liverpool quotations Loan. For a week or two we must Franch colony has continue. 400/B................ 2/4 9/16 credit. Evidently judging as for Spot Cotton are January 5, expect an inactive market, bat generally speaking, to pro- T/T Singapore
TIT Shanghai... Nom. much by the course of markets as | 10.45d., January 6,10.408., fatares there is no reason why the issue | KYOKI,
Tha Cochin China T/T Japan
****** par by the rumoured terms of the 9.828, for July and 9.291. for of a 5 or 6 per cent, Government has developed the culture of the I/T India ............ Nom. 10932 loan, the Government his solved October. The istest New York loan should react unfavourably rabber tree in the midst of war. Demand, India...... Nom. the problem wisely. The mader. quotations received by Messrs. on rubber shares; in fact, the There is, however, a serious draw- T/T San Francis- standing is that the new loan will Tata, Sons and Co. are 15.14cents view is pretty generally held that back which the war has provanted be, of 5 per cent, denomination, May, 15 20 cents Joly, 14.75 cents the demand for high-yield in- from being remedied, and that is and be issued on terms that, in October. "Political situation vestments should increase now the absence of the scientific T cluding the discount on the price unfavourable, causing wild that the issue of 6 per cent. organisation of agriculture. Is of issue and other advantages to factuations in the market," Exchequer Bonda has cessed in knows ist on the point Indo the subscriber, will provide a telegraphe their New York agent. Within a few wacks the rubber China is very much behind, com- Field of 5 per cent. That This is a cont higher than the dividend season will begin, and pired with the neighbouring rate will, of course, be subject previcas quotation. What effect it is already clear that the big British and Dutch colonies. The 4 m/s D/P to iroome tax, but there is also the entrance of Americs into the producing companies will make scientific study of rice-growing, 6 m/s. 10. the expectation of an alternative war-ring will have on the oation bamper distributions for 19:6. Odays Le Temps, is a pressing 30 die. Sydney &} slock of 4. far ceat, denomination market is a pozzling question all sides, too, it is conceded that necessity, but, unfortunately, 30 d/s. San Franc Which will give a litala.over 4.per that even the market operators 1917 promises to be a very good the official sharged with
inco& Wew York) 0901.,.fres of tex. Buck terms in themselves seem unable to foretell, your for rubber. The beat of nows this matter is now serving with 4 m/s. Mari the use of a long-dated British | and si a conmquenos the market comes from America, where the the French Army, and much delay 4 m/s. Franos...... Government Loss are suficiently can only be described as "na-manufacturers of
¡yres and is likely to ensue. The onlture of } 6 m/s. France ...... 3.4312 good to justify every Brush settled." With America at war, motor-care are increasing their miss and coffee is not being Demand, Germany-- citixen who has cash available to even with the German interned factory socommodation on
餐饮 dealt with until thin your. Thaco Demand, New York. 5614 sabribe on mere business con merchant ships in service for the unprecedented scale. Instead of questions are all the more import-T/T Bombay ......... siderations. I could write mach Allies, there probably would be regarding the prosperity of 19:6ant, in view of the fact that the Demand, Bombay... Nom. abost the patriotic standpoint, no tonnage available for other as exceptional, manufacturers are French colony now has to meet Demand, Caloutta... Nom. bat forbear. It seems to me, than Government purposes and providing this year for another the friendly competition of Japan. Demand, Manile ... 112. somehow, that the man who will consequently there would be no record output of cars; indeed, Comparing the first two months Demand, Singapore. par not halp bis comutty today to the greater movement of potton than Amerios is turning out new osra of 1910 with the corresponding On Haiphong...... 244% pram. fall measure of his ability without beretofors. The amount of cotton literally by the million. The effect period of 1915, wa see that the On Saigon..... being asjaled is not likely to be used in the manufacture of ex- on the demand for rubber tyres Japanses exports into Indo-China On Bangkok ...................... 651
.... 214% prem, influenced mash by press exhorts plosives is estimated at only is, of course, cumulative, for, were more than quadrupled. Our Sovereign tions. I would. merely repeat 1,000,000 bales (mostly lintern) with every addition to the zum French contemporary, therefore, Gold Leaf, par os........... 47.30- what I wrote at the outset, and as explosive works are al- ber of cars in use, the anneal argue that Indo-China trade Bar Silver,
HOW,
Smoked Sheet 3a. 011⁄2d. per ib.
the
Indo-China Trade.
the
Laundries
The
Wm. Powells n. Morning Posts n.
CORRECTED TO NOCH WEDNESDAY BENJAMIN & POTTS.
FEBRUARY 21, 1917,
tbe war. Share and General Brokers,
mines, Princes Building.
Tel, address: Broker,
which exported 280,000 tons in 1907 and 633,000 tons in 1914,
produced 620,000 tons in 1915. The exports of the sino mines have not ceased to increase, and
But what is more remarkable they reached 33,335 tone in 1915.
EXCHANGE.
SELLING.
2/4 3/16
2/414
36
co & New York) / Jav............ 135%
Marks. Nom Francs............ 3.2614 Demand, Paris.... 3.27
4 m/s. L/C
BUYING,
Melbourne,
T/T Calonita
2/5/1/16 2/5/3/16
2/5 5/16 2/5 5/16
5744 Nom
3.3814
8.40 om
that the measure of anoness of the | ready rugning at fall capacity demand for tyres is permanently 'circles' should look to their SUBAY 35-
loan will be the amount of fresh the amount of cotton, needed for increased. In 1917 Ametics will laurola.-L. and C. Bxpress,
money that is raised. The con- this purpose, will not be, ranch again be an enormous comanmer
varsion of 41 per cent, War Loan increased in all probability. Boms of rubber, and if, as seems likely, ketgan
COINS.
CO., LTD.
(Capital Paid up...$1,250,000.)
Loung on hi origure of House Property is. Goods received on Storags.
Advances made on Marchandise, brand seade on the Provider: Bynes, (Batmand Particulars on application).
The Othon d TRUSTEE, EXECUTOR OF WILLS, ATTORNEY, &c., Undertaken and I zagwind.
SHEWAN, TOMES & Co. General Managers,
MITSUBISHITM COSHI
KWAISHA. (MITSUBISHI DOJ'
COAL DEPARTMENT.
SOLE PROPRIETTORE OF
TAKASIMA, „OČNU MUTARE, :EISE. IDAKE, YOSHINOTARI, "KOJO,"MAMI- ZUTA, SAYO, KANADA, SHINREW, KAHIYANADA, BIAR 24 STUBAR
Collferien.
Agenta for Pakiro orat.'
HEAD OFFICE :- MARUNOUCHI, TOKYO,
BRANCH OFFICES 1–NAGASAKI MOJI, KARAISU, WAKANGADHI, OTARU, MURORAN, HAKODĀTE. KOBE, ÓSÁKA, KURE, TOKYO,YOED. HAWA,NAGOYA,TEURUGA, VLADI. VOSTOCK, HANKOW, PEKING, LONDOY, NEW, YOBL ́SHANGHAL. VEROKOKONG, HAIPHONS 458
CANTON, - degli
Cable Address :~-~[WASAKI,”" | Cod-s: Al, A.B.A. 5th Ed., West- ‚ærn Union, and Bentley's.
AGENCLES :- CHINKIANG-Mozirs, GRAR- G& Co., MANILA--Messrs. MACONDRAY & CO., BINGA- PORE--Messrs, BORNEO CO LTD., GLASGOW--Mesara, A‚R. ¿ROWN, MOFABLANK & CO.LTD.
For Particulara, apply toum
K. KATO, Manager,
Yongkong, No. 2. Pedder Str
MERCANTILE BANK OF
INDIA, LIMITED.
Head Office 15, Gracechurch
Street, London. Authorised Japitai Bubscribed M Paid Up
Esservé Fund
- £3,500,000
**** 1.125.00%
BANKERS:
568,500 $50,000
The Dark of England, The London Toist Stock Bank, Limitos. BRANCHE-
Bombay
Calcatia
Colombe
Delhi Galle
Hongkong
Howrah
Kandy
Port Louis (marština,)
Kanchi
Kota Bharu Kusla Langų Made Репад
Rangoo
2 bangbal
Singapore
HONGKONG BRANCH.
Every description of Banking and Zethangs business transactad.
Interest allowed on Current Accounts at a per co per annum pe Daily Bahnens, and on First Depres ai ratas which may be ascertained on application.
C. CHAMPKIN,
Acting Manager,
INTERNATIONAL BANKING
CORPORATION.
HEAD OFFICE:
31. Wall S New Van
LONDON OFFICE<>
35, Babayagann. 3,4,
CAPITAL PAID UF „£1,250.000° RESERVE FUNDS....... $9,9$1,000
----$7,181,000
U.S. GOLD
BRANDERS - BON RAY HONGKONG PEKING. CALCUTTA KOBR SAN FRANCISCO CANTON LONDON SHANGHAI CHAU
MANILA SINGATORS CODO MEDELLIN TIENZIC HAWKOW. FANAMA YOKOHAMA
Through a close slišation with The National". City Bank of New York, the Bank'la nila to other the Services of the Bybelbas of that Institution la Cath and Foush Ambran, Dighosty pin
BAHIA, JOENOS
ATLES HAYAWA
-999
MONTEVIDEO KIO DE JANEIRO) SANTIAGO DE CUBA, SANTOS, PAULO, VALPARAISO,
“All kinds of FOREIGN & ROCAL BANKING. BUSINESS waznaczać.
CURRENT ACCOUNTS Open and FIXED- DEPOSITS Neived at rates je de morcaland o
“GEORGE HOGS,
Manager:
Hongkong, 26th September, 1916,
THE
FOKOHAMA SPECIE BANK, LIMITED.
Established 1880.
Authorised Capital Yen 48,000,000
Paid-up Capital Reserve Fund
M
30,000.00 20,880,000
Head Offen-YOKOHAMA,
دیلیاز
ding of bonds and bold the opinion that ontson will | peace is declared this year, Ge-
tions of fall soon se à marios is at war, many and Austria will want larger Cars housand others hold the 'continły/view. sapplies of the commodity than Wines
For