THE HONGKONG TELEGRAPH, WEDNESDAY, AUGUST 1, 1917.
COMMERCIAL
a
Iron and American Control of
い
Exports.
NEWS..
Shanghai Shares.
The British Steel Trade. sad agreements, both for man- clude such long forward contracts dollar rate being 72.1. Debon- The May circalar of Megre, facture and for selling, will pro as have hitherto been made. Intures.-Very few sales are made, Hanson, Brown and Co., Ltd..bably be found to be increasingly any case, it is expected that as the pat prices seem to have touched iron and steel, fuel, ore, and necessary. As regards labour, result of the action taken by the bottom. The earrest Municipal general merchants, of Middles the firm does not anticipate mach American Goverment a consider issue is going off but slowly. The brongb, commina the uansl careful trouble after the war, the rable effect on Japan's shipping French Government'e 8 per cent and illuminating review of the Istion of employers and employed industry will be inevitable.Yen Loan, to which we referred course of the iron trade sa to the in the steel trade having always Japan Chronicle.
on 22ad alt., received no rory pre-war position and postwar been good.
warm welcome on the Tokyo prospects. It is stated that, while
market but we understand that all engaged in the iron and steel
Messrs A. L. Aaderean and the underwriting bank, which trades are cotitled to congistalete
Co., in their Weekly Share Cir-were saddled with the balk of the themselves upon the results.
Some interest is using fait cular, dated Shanghai, July 21, issue, are satisfied that the market achieved under the stimulus of to how the American authorities state:We have no more comfort will absorb their holdings in the war conditione, they should be will carry into effect the proposed ing nowe to give this week than near fatare. Company Meetings, atill more encouraged by the control of exports in regard to last, the official quotations on etc.-Russo-Asiatic Bank. We are proof pow destly afforded that supplies of iron for Japan. It Change consisting, for the period, informed that a dividend of Ris. these essential national industries is said that after the proposed of five dealings in Rabbers and 30 has been declared for instant are capable of vast extension not restriction of exports was pro-ramain the steadiest market, in profits will be disposed of br 11 in other secarities. Cottons payment and that the balance of merely to supply out own claimed by the US Government temporary neede, but to obtain Japanese frm in Osaka received view of the high profits (as high placing Ela. 8,974,000 to War faller share of the trade of the from America telegraphic offers a Tla. 60 per bale in some cases, Contingencies, Ria. 347,000 to world. Afurthe outbreak of war, of sale of irou goods for forward are informed) being made on alatutal Reserve, and carrying it was discovered that the British delivery in October and Novem-yaza, but in other directions the forward Els. 4,624,000. The steel industry had been "caught ber. On the strength of this some the that is down need fear no fall.' closed since the outbreak of war, most reassuring thought is, that Petrograd Exchange has been short." It became vital to our of the Japanese importere took it existence a8 8 nation in the for granted that the American While the rate of exchange is but the latest mail quotation from struggle with a scientific and authorities would not be chary of somewhat lower, its a long long the Paris Bourse was Fos. 660. carefully prepared enemy to put granting licences for exports to
trail and may well prove a wind- Pengkalan Dorian-A dividend of forth our atmost efforts to enlarge Japan, as one of the Allies, Osing one to the point where fands 10 per cent., equal to Tls. 102 our output. The expansion has the other band, another Japanese
will again begin to secamalate pershare, will be recommended taken wach time, and is not even company is reported to have here. To-day opening rate for at the meeting to be beld on 30th yet completed, and we have been received telegram that the TF oa London was 39; the inst. Accounts not yet to hand. compelled to import from America export of shipbuilding materials vast quantities of goods which, might be altogether prohibited for bed the warnings of the past been the purpose of promoting the bate been cause of America's shipbuilding beaded, might well made at home. Happily, daring industry, though there, seems to the past two yeare, much of the be no fear of tank plates being Teeway has been overtaken, and thus interdicted. As mentioned the figures for 1916 ebow a sub- before, the Japanese Financial stantial increase in the entput, Agent at New York telegrapbed both of pig iron and steel, over that the validity of licences would those of 1915-an incresss of be only for 60 days, and that the Over 250,000 tona of. pig object of the American authorities. iron and not far short of 750,in placing an embargo on 000 tons of Heel. For the first export of shipbuilding materiale sime in the history of the British wie to secure control of Japan'e iron trade, the production of steel mercantile marine, the insinuat exceeds that of pig iron, the ing that
considerable former amounting to 9.244,457 strictiona Yould be placed and the latter to 9,047,983 toa. оп supplies to Japan. In The steel catpat is far in excess the circumstances even optimistic bf all previous records. While Japanese importe have the increase - about 54,000 tarned pessimistic, and addressed tone-in the catpat of basic open, inquiries to the Foreign Office for bearth steel let year we com farther particulars regarding the paratively small, a further and American control of experte. The Tery considerable increase may statement that licences will only be looked for this year, & fact of be valid for 60 days is generally special interest to the Cleveland taken as meaning that shipments district, where native cres can be moet be made within 60 days, advantagecuely used in the map and it is thought that if this is the facture of steel. The
case, it will be impossible to coa- course of the wer has shown be seriously depen-
信号
to
dent apon foreign ore, and the Tesolt has been a revival of in- terest in the development of Britiah ore resources. The efforts which the Government bas in- augurated to increase the supply from Cleveland are already bear- ing fruit. These war measures, obviocely, cannot be allowed to lapse at the end of the war, for that would be a wasteful and harmful procedure entirely out of! scend with the great principles
of industrial and economic re- construction which are fast being Farmulated into a settled policy witb the powerfal support of all classed engaged is in i dustry. The fature expansion and prosperity of our great steal"in- dustry are largely dependent upon the successful exploitation of our We have enor. own resources.
rеBorces in mous untouched Britain which can be economically and successfully developed and turned into steel of the highest quality. All shia work, however, requires capital, and it cannot be expected that this will be found unless the steel trade ajŋys greater security in the future. The trade languished before the war, as compared with the steel trade of Germany and America, because it failed to attract investors, and that failure to the pressure of WE9 due anfeir foreign competition, The steel industry, in the opinion of the firm, is not out for Protection, bat it does demand that its home market shall not be made the damping ground for cheap foreign teel, sold very often, thanks to Government bounties and all kinds of shipping and railway rebates, below the actual cost of "manufacture. Another vital mat- les in connection with the fatare of the steel trade is large-scale production, obviously impossible unless the trade enjoya reasonable measure of security. Under "modern conditions it is only by large-scale production that cheappeal of outpai and, thereby, the power to meet world mpetition on level terms, oin be assured. In connection with -the expansion of production, trade combinations amalgamations, ·
tbe
12-
NOW
LA INSULAR__CIGARS`
THE OLDEST CIGAR FACTORY IN MANILA
Best Quality Leaf,
Best Workmanship.
Finest Aroma. Lightest Colours.
Obtainable from all Cigar Merchants,
DISTRIBĮ"TORS FOR SOUTH CHINA;-
H. RUTTONJEE & SON.
AN ECONOMY
Which--
Fifty typewriters
an extra office, perhaps two
Or-
HONGKONG SHARE REPORT.
S-SELLERS SA-SALES; B.-BUYERS; X-NOMINAL.
OFFICIAL PRICES.
Douglases Steamboats Indos (Def.) Indos (Pref.) Shells
Ferries
Sugars
$29
BANKS.
BANK OF CANTON,
LIMITED.
HEAD OFFICE, HONGKONG
FOREIGN EXCHANGE and General Banking Fransacted.
BANKS
HONGKONG & SHANGEA
BANKING CORPORA
TION. Paid-up Capital $15,000,000 RESERVE FUNDS:
Sterling
£1,500,000 at 21-
-$15,000,000 Silver...$18,500,000
$33 500,0##
Reservs Liability of business
Proprietors.$15,000,00# COURT OF DIRECTORS.
Hou. M. $. R. Dodwell-Chairmer, Boa. Mr. P. H. Barn-Deper Chairm Has. Mr.CE. Auto F. C. Butcher. Reg. 6. T. M. Behin
it: Dubbes, Erion
LOOK POON SHAN;
Chief Manager,
INDUSTRIELLE
BANKS.
H. K. & S. Banks S.
MARINE INSURANCES. Cantons North Chinas
$665
Unions Yangtszes
$340 t. 140
$3$5. b. ex 738199 FIRE INSURANCES. China Fires b. H. K. Fires
3.
3.
INTEREST ON FIXED .DEPOSITS:
3
$143 $315
For 3 Months 3% per annum.
SHIPPING.
For 6 Months per anLum.
n.
ཅ་
$85 $18 $114 $40
For 12 Months 41% per annum
b.
1201-
0,
REFINERIES.
52
Malabons
b. MINING.
$96 329
BANQUE
Kailans Langkats
b.
3416
b
t. 15
Raubs Tronohs Urals
11.
I.
$2,45 25/6
D.
$21-
DOCKS, WHARVES, GODOWNS, &C.
H. K. Wharves b.
$75 Kowloon Docks, s. & sa. $118 S'hai Docks b.
t.78
LANDS, HOTELS AND BUILDINGS.
Centrals
5.
H. K. Hotels
b.
$95 $98
Land Invest.
$91
H'phreys Est.
R.
$6,25
K'ioon Lands S'hai Lands
7.
$33
ка
£ 80- #69
t. 1624 c. 15
West Points b..
Ewas
COTTON MILLS.
h.
Kung Yiks b.
S'hai Cottons b. & sa. t. 136- Yangtszepoos h. t. 5.75
MISCELLANEOUS.
Borneos
China Light & P.n.
DE (HINE.
Capital (14 Paid up) France 45,000,000
President
André Berthelot General Manager A. J. Pernotte.
HEAD OFFICE:
74 Rue Saint Luare, PAKIS BRANCHES in PEKING, SHANGHAI. TIENTSIN and HONGKONG.
BANKERS.
I FRANCE: Société Générale pour favoriser le Développement du Com- merce et de l'Industrie en France. La LONDON: London County & West-
minster Bank, Ltd
In ITALY: Banca Commerciale Italiana.
Telegraphic Address: CHIBANKIND.
. Interest Bowed ra Current Accounts and Fixed Deposits, Tema en application. Every description of Banking and exchange business traducted.
"M. BOUET DE JOURSEL
Manager.
HONGKONG BRANCH:
3. Queen's Building..
Tel. No. 2352
Hongkong, 14th May, 1917.
NOTICES.
E. V. D. Fan, W. L Passenden. Saç-- A. Compton. L
CHIE MANAGER Hongkar. J. Sutt, Im
MANAGER
Shanghai G. Stepben, E London Baniers-London County how
Wcatouister, Limited
Hongkong-Interest Allowed
On Current Accounts at the rate of 3 per co anham on the daily balance
UN FIRED DEPOSITS. Forment per cent per annum For 6 months, 38 per cent per azz for month per cent, petang
N. J. STABB.
Chief Manage?
HONGKONG SAVINGS BANL THE Business of the above Rank is conducted de the HONGKONG AND SPANGHAI BARKING CORPORATION. Rules may be obtained on applicat INTEREST on deposite is allowed on sa m Imem monthly balancs at Fé per cent, par 2229
Depositori may transfer, at their option, inues) el 100 de more to ite Hongkong "and Shangha Bank to be placed on FIXED DEPOSIT I cent per akum.
Uet.
For the Hongkong and Shangbal Banking Corner:
N. J. STABB.
Chief Managan.
THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA.
Tacorporated by Royal Charter föga
HEAD OFFICE-LONDON,
PAID-UP CAPITAL
RESERVE FUSD
185, 000
RESERVE LIABILITY OF Lyon.com
PROFFIETORS
FOREIGN EXCHANGE and Canara BeaÈS)
business transacted.
CURRENT ACCOUNT opened and FIID DRFOSITS received for 1 year or acorter periode races which is be quoted on application;
T. C. DOWNING,
Manage Hongkong, 11th April 1911.
THE MERCANTILE BANK OF
INDIA, LIMITED. ‚·
Head (ffre 15, Gracechurch Street, London.
Authorise Capital ................£1,500,00€ Subscribed
1,125.00
Paid Up
562.500
4
Reserve Fund
600.001
$7
$4.50
Providents
D.
$7,90
Dairy Farms
IL.
$23
Green Islands
bi
$7.15
H.K. Electrics
.
$48
H.K. Ice Co.,
n:
#151
Ropes
b.
$273
Steel Foundries n.
$10
Trams, Low Level sa.
$6.40
Trams, Peak, old n.
$9.10
Trams, Peak, new n.`
cts. 30
Laundries
.b.
$8.40
Lombar
U. Waterboats n.
$13
Calcutta
1.30 AM to
Watsons
b.
$6
Wm. Powells
S.
$6,50
Morning Posts n.
$29
8.80 10 100
to 12. W
1.18 .. to
E.00 A.K
1320 x
EVERT 18 MIN.
Colombe
10 MIN
Deihi
JB MI
Galle
Hongkong
How ab
IB MIN.
Kandy
2:5 T..
10 M.
15 MIN.
5:00 234, 14
10 MIN.
CORRECTED TO NOON WEDNESDAY AUGUST 1, 1917,
BENJAMIN & POTTS,
Share and General Brokers.
Princes Building.
Tel. address: Broker."
EXCHANGE.
2/736 2/7 7/16 2/7.9/16 2/7 11/16
..with
fifty operators. at fifty desks,
SELLING.
T/T
Demand
30 dt.
60' d/8.
4m/8...
2/734
T/T Shanghai.
Nom.
T/T Singapore
**** 111%
*****
1219%
Nom.
One typewriter, one operator and one
EDISON-DICK MIMEOGRAPH
The results are the same.
The Edison-Dick can do as much work in its line in reproducing letters and-
similar forms as the fifty stenographers and in one-
fifth of the time.
soves
The Edison-Dick Mimeo-- graph saves labour and it Its wear and space, tear is less than the wear and tear on a single typewriting machine-less by long odds. Mimeograph not only saves money and material- but patience as well and very frequently good will.
The
||
MUSTARD &
SOLE AGENTS,
DES VŒUX ROAD.
TT Japan
T/T India
Demand, India .............. Nom.
T/T San Francis-1
621⁄4
co & New York! T/T Java........... 1497% T/T Marka....... Nom. TIT Francs........... 3.6114 Demand, Paris...... 3.62
BUYING.
4 m/s. LIC.....
2/814
4 m/s. D/P
2/83
6 m/s. L/C.....*
2/81/6
30 d/s. Sydney &
Melbourne
2,814
30 d/s. San Franc-l
inco&New York
634
4 m/s. Marka
Nom
孩
4 m/s. Francs...... 3.7414
6 m/s. France...... 3.7914 Demand, Germany..
Demand, New York. 6136
T/T Bombay
PATAGO
Demand, Bombay... Nom. TIT Calcutta ...............
Demand, Calcutta... Nom. Demand, Manila... 1241
Demand, Singapore. 1114
On Haiphong
On Saigon
Sovereign
434% prem
42% prem
On Bangkok.
587%
7.60
Nom
Gold Leaf, pero
4440
Bar Silver, per o..... 39%
CO.,
SUBSIDIARY COINS.
DISCOUNT PER $100; Chinese...20 cts. places 3.4%.
Chinese...10
Hongkong 20 cta, pieces
Hongkong 10
3.34 %dis. par.
NOTICE.
DEAK TRAMWAY Co.,
LIMITED.
TIME TABLE.
LANKERS
· The Park of Enghed. The Loodin Teint Stock Hank, Limit:
ERANCHES 1—–
Karachi
Kota Bhar
Xsala Lamps
5.00
NIGHT TAKE
and, 97, 9.50 c
1106 .. every half hour. 11.00 11.45.
u every quarter si at kous.
BUNDAYS:
MIN.
20 MIN.
EVERT : MS.
18.25 AZ to
31.30AM, SO
10.30 4.
1200 No.
19 Moon to -$1.00 P.M.
LOST.
So
6.50 7.x.
€.00
2.3
6.30 .. REFR
DA ICE SET
10 N
15 MIN.
10 M:.
20 MIN,
it Mix.
30 Max.
MIGHT CARS us to Week Daya.
BATURDAYS:
Es Car at Midnight
SPECIAL CARE
BY LITEngement uz ska Çozmpany's Offion, Alexandra Buildings,
Dee Toes Hand
4400 sad panch Berets available for all anas not already fulf, runting as the time slated fa the Company'a takne zab1és, but not for special cars, can be distalzed or application at the Demipley's Olson --- No Brawon ticket will be lessed suit yayment thenfor" bas been made in Bank Notes or by Claque or Compradora order repressoting Kanx Kol."
JOHN D. BUNPREETS & CO.C
THE CHINA PROVIDENT LOAN AND MORTGAGE CO. LTD.
(Capital Paid up...$1,250,000.)
Leans on Mortgage of Hot Property, du Geoda povedati BtorSKŁ Jévanom made no Merchidee. LANDA TRAĞA On the ProviderBystem.
ZKUSTIZ, FECUTOR OF WILLE AKTORENY, an Undertaken wat Bramerać. Cates and Particulars in application! ..
Zo the Office of
"SHEWAN, TOMES & CO.,
General Managers.
MARTIN'S
APIOL &STEKL
PILLS
* Prende Kansedy zał glirregularities. Chemists J SAGAR Akys kang &. SEE M Martialis in the toum ào thank then shan Bapt sam stany Jersenlerity of the byłam a Simely dose mer be adminlassted.
@hce>
1Į Chamala and Moran sall Cham breng jas. Viorid, or pot free m MASTER, Özerint, Korthampton, Eng.
MARTIN'S APIOL &STEEL PILLS
Pors Lock (Mauritius.)
Madras
Feenag
Racroon
Shanghai
Stagepos
HONGKONG BRANCH,
Every dricription of Eashing and Eamesy business acted
Interested on Current Accounts as per cagi per agrum on Jaily Balances, and on Fixed Depcer st rates which may be ascertained on applicacion
C. CHAMPKIN,
Acting Manage).
INTERNATIONAL BANKINQ
CORPORATION.
HEAD OFFICE-
Wall St, New York
LONDON OFFICE:
it. Bishopsgate, I
CAPITAL & SUBPLUS -U.B. $6,500,001 UNDIVIDED PROFITS UB. $1,010.061
BOMBAY CALCUTTA CANTON
CEBU. COLON HANKOW HONGKONG KOPŁ
LONDON MANILA
US. $7,310,001
FAN PEDRO
DEMA ORI-
MEDELLIN SANTO DOMINGO
PEKING.
PANAMA
PUERTO
PLATA
SAN FRANCISCO
SHANGHAI
SINGAPORE
TLENTSIN YOKOHAMA
BRAN HES:---
Through its close affiliation with The Nation City Bank of New York, the Eark is able to offer t Services of the Branches of that fastitacles to Cuis South America, and elsewhere, nemely=W --
BAHIA, BUENOS AIRES, GENOA, HATANA MONTEVIDEO. RIO DE JANEIRO SANTIAGO DE CURA, FAFTOS, SAO PAULO, PETROGRAD VALPARAISO,
All kinds of FOREIGN & LOCAL BANKING BUSINESS intacted.
CURRENT ACCOUNTS opzed and FIXES DEPOSITS received at rates to be ascertaised as application.
GEORGE HOGG.
Колект
Hongkong, 26th September, 1916
THE
YOKOHAMA SPECIE BANK
LIMITED.
Established 1880. Authorised Capital Yen 48,000,000
Paid-up Capital.... Reserve Fund......
36,000.00
21.300,000
Féad Office.-YOKOHAMA,
Brancker Antung-Hales Putter
Calcutta Changchun Dairen Fengties Barbin
Кове
and
Agabelen Naguald Nowchmans Bow Lots Onks Faking
Asther
Projan (Poe
Haskow
San Francis
Honolula
Shanghai Hydney Singapore Tebing Titles Tolga
Tatzanto
Londo
Iyo
Log Angelos
Tangie
lerostalowed on Currans Accounts. Depen
rooved for Exod perduds as rates to be obtaine
an application.
FISHI ONO, Ma:
"Hongkong, 18th Jul