THE HONGKONG TELEGRAPH, WEDNESDAY, SEPTEMBER 19, 1917.
COMMERCIAL
NEWS.
Why Japan Stops Silver Exports.
Shanghal Cotton's Profits. "
Siamese Tungsten' Ore.
decreased of late, owing, it may At a meeting of the board of According to a Bangkok mining
hardly be necessary to point out; As briefly reported by telegraph to the incressed prios of silver. directors of the Cotton Manufac engineer, from 40 to 60 tons of turing Co, L., bold last week tungsten cis are mined monthly at the time, the Japanese Govern- According to su expert calcula- it was decided to recommand in the Siamese Malay Stater, the ment on September 6 announced tion, the price of silver neostvary that the sum of Tl. 43 256.23.ere containing from 60 to 72 per the prohibition of the export, to make the denominations of the nett balance remaining from cent of W.O. 3. The loos! without the permission of the theme large-size coins the same as the year's working after dedut-average price of the ore per pical Finance Minister, of silver coins their actual value as silver is ing auditors' and directors' feer, was about 131 ticals during lest or silver bullion except in the $2.79 1., while it is 43 683, in the #bould be distributed as fear, but the price varies accord-case of travellers going abroad, case of the smaller size of coins followe
ing to the W.O 3 units contained | who may take with them not more or those now more generally in Tir.
Lin the ore.
then Y 50 in silven coine. At oironlatior. It is clear that it Depreciation account 68,72275
the same time, the bosiding, paye to sell large and small coins This makes the Beserve, renewals
melting or defacing of silver as bullion. coins for the purpose of selling embargo all the more necessary. or btherwise disposing of
***
Trade-of Philippines."
Japanese Money For Chinese
Railway.
a
HONGKONG SHARE REPORT:
8-SELLERS;-8&—SALINS;
B.BUTERS; N.-NOMINAL.
OFFICIAL PRICES. BANKS.
H. K. Fires
BANKS.
BANK OF CANTON,
LIMITED.
HEAD OFFICE, HONGKONG
FOREIGN EXCHANGE and General Banking Business Fransacted:"
INTEREST ON FIXED DEPOSITS:
For 5 Months 3% per annum.
H. K. & S. Bagkasa.
MARINE INSURANCES. Cantons North Chinas Unions
$550.
the Yangtazes D. 6x 73 $19; "FIRE INSURANCES. China Fires
b. SHIPPING.
$320 t. 110 $775.
$137 **$290
1.
$81
12.
$171
5.
$89
a.
$38
D.
107/6
B.
$29
For 6 Months 4% per annum.
For 12 Months 41% per annum LOOK POON SHAN;
Chief Manager.
REFINERIES.
3.
#92 $29
MINING
41)-
D.
to 14
B.
$2,50
28-
П
$2/-
28/-
Oriental Cons.
DOCKS, WHARVES, GODOWNS, &C. H. K. Wharves s... Kowloon Docks b.. Shai Docks
LANDS, HOTELS AND BUILDINGS.
Mining Baak för Korea." In Kores there have been many and repaira 100.000,00 applications to the fathorities Dividend: Tie. 6 per
for permission to work miner, share
240,000.00 bat ibere have been very few them will be also probibited. In Rubber Famine in Germany. Carry to new account 22,533.48 projects actually launched. One both cases Headers are liable to
Douglases of the principal reasons for this be punished with imprisonment How acute is the shortage of Steamboats 431,250 23 fact is said to be the lack of not exceeding three months or crade rubber in Germany is Indos (Def.) The annual general meeting of financial facilities. In fact, it in with fine of not more than shown in an article which ap. Indos (Prel) the company will be, held on said that s certain Japanese Y.100. In this connection the peared in the Gummi Zeitung. Shells September 27,
business mas actually started authorities have issued As the German paper desis Ferries working & mise, bot has been explanation of the reasons in review with the rabber situa compelled by financial reasons to arcessitating the mbargo tion throughout 1916, it may Sugars Philippine imperis for the year suspend operationé. Experte calon silver. The cfficial explanation, be inferred that the diffisait cop-Malabons ended June 30, 1917, show an in-culate that unworked mines in taken from the Japan Chronicle ditions in enemy countries have create of $6,000,000 over the Korea are worth about YICO,000, age: "Since October, 1815, the since been considerably intensi-Kailans total of the previous year, and a 000. In view of the bright vales of silver bee gradually ad- find. It is recorded that in 1916 Langkats larger export trade by $10,000, prospects of the mining industry rance, and the advance bas the difficulties engendered by Raubs 000. Of the importe, valued at in the pepiceuls, it is reported recently become more rapie. Co the shortage of raw materis's and Troncks $15,983,277, American goods that some bankers in Japan are September 3, London quotations substitutes became more ferere, Urals comprised 63 per cent., and of prejecting the establishment of a teched 47. Present conditions compelling a restriction of outpo the total exports, valued at bank for the exclusive purpose are such that it is well nigh imIt was consequently orged in $71,715,375. the United States of financing Korean mining in- possible to predict how far the manufacture of articles that could parchased 60 per cent of the dustries.
price of silver will still advance. bsdone without should be stopped shipments against 47 per cent, in
There may be various ressone allogether and production limited 1916. These figarea are in
responsible for the advanor, but to things sheolutely essential." American currency. Hempship. According to Japanese reports the main causes are an increased Cycling was prohibited and all ments smounted in 132,482 long negotiations are going on between demand and a reduced supply. rubber tyres seised. Farther tone, of which 69,869 tons came the Chinese Government and a Since the outbreak of the war, evidence of the chronic dearth of Centrals to the United States. Although Japanese company interested in currency in Europe and America rabber in the Central Empires is H. K. Hotels the total falls more than 10,000 Chins for a loan of about Y.100, has andergone a considerable in furnished by the statement that Land Invest. tons below that of the previcas 000,000, for the construction of flation, making it accessary to put two trips of a single submarine H'phreys Est. year, high prices resulted in a railway between Chɛcobow (Swa-
more auxiliary coina into the United States, returning Kloon Lands vains of $30,259,718, by far tow), Kwangsung, and Nanchang, circulation. In India and Chins with what must have been strictly
Shai Lands baz there highest recorded in Kinngei. The projected line
al80 been
West Points ADlimited cargoes of the raw Sugar alone of leading exports would be 200 miles long, reports while the cutput of producing ly to help the sitastion.
increased demand for silver, material, were sufficient material-
Reclamations matorial reduc the Hochi, which paper says
COTTON MILES, tion in both quantity and value that as many difficulties are centres has suffered a falling of dark cloud of shortage of orade from the exceptionally large in the
it will take Added to thie ia the fact that robber" says the Gummi Zeitung figures of 1916, the total ship some time before the negotiations some countries have already pro-was lifted somewhat by the two mente amounting to 234,308 long are concluded. This project ibited the export of silver successful trips of the German tons, of which 98,695 tons were would connect the Yangtze at that the price of silver is bound In the circumstances one might There is than every indication trade submarine Deutschland." for the United States. A reduced Kisking with the ses at Swatów, copre trade reaches a value some that part of the railway from to go up still further. As a reels have expected the Dentechland to what larger than in 1916, ard Kicking to Nanchang having of the steady advance in the price continue the busineer, and its American purchases assume on been completed by a Japanese of silver, the intrinsic or ballion failure to do so would seem to asual importance, constituting company some time ago. In a value of our silver coine has be suggest that farther ventures were 46,774 long tons of the 68,382 straight line Sestow lies almost come more than their nominal not exactly cf a successful nature. total. Increasing local manufac. das ecath of Kiskieng, though value se currency. If the present The Tratonic trade journal goes H.K. Ice Co.. ture of copra is evident in the the proposed line would probably state of things continue, it is on to remark, with charming Ropes larger exporte of coconut oil, Bass through a good portion of possible that some people may nairete that, "It it quite natural Steel Foundries. which nearly doubled in quantity, Fatien province.
emelt silver coins for the purpote that raw rubber should be searce Trams, Low Level n... and with a value of $8,500,000,|
of selling or otherwise ating the in German;" & state of affaira Trams, Peak, old s. Chinese Cotton.
silver closely approximate to the value
se ballior, or export that would not have matiered in Trams, Peak, new n The weekly collon market
them as they are to foreign the least if that country's pre-war | Laundries of copra exported. Great activity report of Messrs. S. Spaat & Co in the cigar industry is alec dated September 6, states: We be a great elottage of silver rubber had only materialised. Watsons
countrica. The result would claims in respect of eynthetic. Waterboats, a. indicated in a large increase in bave had another week of bat auxiliary coins, which might give Nor is the German rabber famine exports from 152,000,000 cigars to meagre markets with the general rife to serious financial dis-rendered any the less bitter by
Wm. Powells 219,000,000, due entirely to the range of prices between Tle. 1 to torbances. This is the reason the knowledge that there is no
Morning Posts growing American demand.
Tle. 1.50 lower than last week and why an embargo has now been abortage in producing countries." there le evidence of operators placed on the export of pilver The Gummi Zeitung, however, attempting to bring about the coins. Even as lato sa 1915 the evidently finds come consolation bearish movement in the scen- dency, though, to what extent output of silver in this country in the notion that labour is very amounted to до Mora than such efforts will prove successful Y.7,220,000 in value.
ezerce on the plantations, and that or otherwise it is difficult to pro has become very dificult to impartly by speculators and partly While it the product is being kept back gnosticste in face of the feat of
the
shows
to
over
American Cotton,
A
***
pa
way
་
"The
Ewos
Kung Yiks S'hai CottonS Yangtszepoos Orientals
Borneos
$73 $112 t. 76
$6
BANQUE INDUSTRIELLE DE CHINE.
行銀業實法中
Capital {{ Paid up)...France 45,000,000 (1/3 of the Capital subscribed by the
Government of the Chinese Republic)
Chairman of the
Board of Directors. Andre Berthelot, General Manager A. J. Pernotte.
HEAD OFFICE:
74 Rue Saint Lazare, PAHIS
BRANCHES:/ PEKING. SHANGHAL TIENTSIN HONGKONG, and SAIGON. BANEERS.
In 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 NEW YORK : Redmond & Co, ̈* In ITALY: Banca Commerciale Italians. Telegraphic Address: CHIBANKIND.
Interest allowed on Current Accounts and Fixed Deposits. Termen application. Every description of Easking and Exchange basiness transacted.
M. ROUET DE JOURNEL, Manager. HONGKONG BRANCH : Queen's Building.
Tel. No. 2352
5. Chater Road.... Hongkong, 20th August, 1917.
"BANKS
HONGKONG & SHANGHAI "BANKING - CORPORA.
TION
Paid-up Capital ‚$13,000,000 RESERVE FUNDS
Sterling
£1,500.000 at 2-
-$15,000,000 Silver...$18,500,000
$35.500,8##
Reserve Liability "of
Proprietor. $15,000,000
COURT OF DIRECTORS.
Hen, Mr. S. E: Dodwell, Chairmar, Hoe. ML. P. B. Rolyout-Depute Chairagan Hon Mr. C. Anton, F. Burchar G. T. M. Edkins ET. D. Parr, Erg, W. En Fattandes, Eng== Gabbay. Bagu & R Compter. E.
Hongkong-N. J. Subh, Aug.
MIXAGEN Shaoghal-1. G. Stepina, Est Landos Bankery--London Oct
Westover, Limited.
Hongkong-Test Allowed
De Current Accounts at the rale of 1 par toth
BARRH on the daily balanCA,
ON FIXED DEPOSITE, CON
For 3 months, Efper ciat, par adam,- For's mouths, per coal per
Fer le motib, € per cell. per anat.
N. J. STABB.
Chief Manage
HONGKONG SAVINGS BANK,
THE Basics of the above Bank is conducié he the HONGKONG AND SHANGHAI BANKIN
CORPORATION, Xalet may be obtained on application INTEREST on deposita is allowed on the mods Ibly balances at Baj per cast, per .
Depositors may truosfer, at their option, bainata of $100 OF MONE to the Hongkong, mod Shanghe Bast to be placed on FILED DEFOST *** cant per exe
For the Hongkong and Ebanghal Backing Couper-
N. J. STARB,
Chief Manage1.
THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA
Incorporated by Sion Charter 1987.
PELD_SFFICE-LONDON,
PAED-OP CAPITAL 12000 RESERVE FUND. BESERVE LIABILITY OF
PROPRIETORS
FOREJON EXCHANGE and Gesert Samling
besines transacked, CCLLEST ACCUCKT", opened and 732) ~DEPOSITS received for ) yeni or storet periodis
rates which will be quoted on application
T. C. DOWNING,
Manage Fongkong, 11th April, 1912.
THE MERCANTILE PANT OF INDIA, LIMITED. Head Office 15, Gracechural
Street, London, Authorised Capital. |Bubscribed
S.
$90 $34
1.
$88
D.
$33
$
to 34
b.
D..
$78 $115
8.
4,169
П
L, 14
13.
£121
G
1.4.95
Да
t. 36
n.
IL
$61 $4.50. $754
1.
$23%
sa,
$62
D.
$48
1.
$149
DEAK TRAMWAY CO.
B.
$26
$10
$5.90
TIME TABLE
Eember
Karackf
Calcutta
$9
Four Ehr
cts. 90
1.00 A.M 10.00 A.M.
ZYBY 18 MIN.
folambs
Dethi
Koala Lump*
20 MJT.
Macr
Cali
16 Mix.
Penang
Hongkong
19 XIX.
Homeb
Rangoon
!bact
Kandy
20 MIN.
Singapor
$6
1.45 10
EJE P.X.
JE MIN."
Port Look (34)
S
$6,50
1.30 P.X.
EL MIN
1.00 ..
カン
$29
MISCELLANEOUS.
China Light & P.s. Providents Dairy Farms. Green Islands.
Electrics
b.
CORRECTED TO HOON WEDNESDAY SEPTEMBER (9, 1917,
BENJAMIN & POTTS, - Share and General Brokers.
Princes Buliding.
Tel, address: Broker.
EXCHANGE.
SELLING.
....... 3/23/4 3/23% 3,3 3/34
3/31/4
Nom.
137+4
1504
Nom. Nom.
For the second week in succce. sion another drop of nearly id. ie be recorded io amerinan cotton, Reater's Liverpool report for September 6 being Spot
17.60a. "October-November
15.55d, farmers not yet being any too Fort silver from abroad, there is for political reasons." Even in an increased demand for the London," it is adder, there was January-Februare 14.90d, keen to part with their holdinge metal 02 Eccount of
Corrisponding quotations for the time being. No better
the such shortage of supplies that weather conditions, as thus far necessity of a wosk earlier, August 30, were
larger silver
the price for standard qualities T/T 18 25d, 16.924, and 16.20d. The experienced for the picking the prohibition of the export of th. To point of fact, the price
currency. Hence the necessity for was forced up as high as 53 per Demand official Agricultural report issued seseor could be wished for, and silver bullior. In special cases, rors solely through the unrestrict
| 30 din. a Washington and received here with average good weather from however, the Finance Minister ed operation of the law of supply T/T Shanghai.
60 dB................ early in the week estimates the Dow on nati! picking je over, a
4 m/a.......... fair average crop, as far as the may permit the expor." There and demand, sad in spite of the T/T Singapore crop condition as 67 8 per cent. Previously a telegram from Yangtze Belt is concerned, may some time certain people have quirement of some 20,000 tons Fr Indis is reason to believe that for fact that Germany's annual re- T/T Japan of be looked forward to. Yet, it is been engaged in collecting and remained unfulfilled. It is con- Demand, India New York agenta Mesara. Tate, Sone & Co. advisable not to be over confident mentioned that the New York on that feature as any decided set-salting. Japanese silver coins, ceivable that at some intura date T/T Ban Francis-1 77 Journal of Commerce private back would change the whole sita readers are perhaps swarm thet adde the Kaba journal. Our
not far distant Germany may co & New York estimate was 696 per cent. Aation. Tone of the market, Werk there are larger issues of 10-sen, very reasonsble figure at which IT Marks.
come to regard 48 per lb s T/T Java............... 183 telegram quotes March 21 conte Japanese Copper.
Before the British Government and reports a week market
to obtain standard grades of greatly plantation rubber... withoutconfidence. The estimated took steps to keep down the cop- American crop for the 1917 18 per market in London the Ferson is 12,500,000 bales, which domestic market in Japan enjoyed
the
The
copper
is about the same as that of the remarkable activity on scoount of 1915-16 season. The following large, exports to Britain. fgares are interesting in view of exporte Lave been greatly reduced the probability of Government and new, British orders practical- control of exports, Japan havingly suspended sicce that action received a report 1st week that was taken by the British Govern the American export "ban"ment, and as a result the copper would be extended to cotion. market in Japan has been in American cotton shipments to low water. It is said the Scandinavia, the Netherlands, and output of Japanese Saitzerland, in 10 months of has been in excess of the Seoul year 1917, totalled 102,-demand by about 10,000 toar. 076,460 Ib. compared with Added to this have been depress. 118,543,546 in the correr onding ing factors both at home and period of 1916.. These neutrale abroad, saya a Kobe paper. The received 16,467,088 1. lesa than other day both the London and in corresponding period of 1918, the New York market acf-red a while their loss when compared considerable decline, while the with the 1915 period footed up price at which the Cenka Military 602,210,458 lbe. Spain appeared Areaal bought copper, being to have a pretty free hand in Y.71.40 per 100 kir, was lower buying American cotton in the than the market quotations 10-month period of 1917, as ex by stcut 7.4. Accordingly, the ports from America aggregated Japan merket has been farther 176,025,203 lb., compared with depressed, and quotations. last 141,858,883 in 1916. In 10 week stood at Y.70, reprezenting months of 1915, Spain's purchases totalled 192,007,931 lb.
decline of about 7.6 during the Last 30 days.
20-sep, and 50 sen pieces, though their Dumber hoe
VISITING
THE HOME OF
PRIMO BEER
[Stocked and sold by all Wine
[& Spirit. Merchants, 'Hotels and Clubs.
H, RUTTONJEE & SON. Wine and Spirit, Merahanie.
TT France.
Demand, Paris
BUYING.
Nom
4.4734
4 48
4 m/s, L/C............ 3/4
4 m/s. D/P.......... 3/418
6 m/s. L/C....... 31436 30 dịs. Sydney &Į
Melbourne....
3'456
30 dis. Ban Franc-l inco New York
784
4 m/s. Marks
Nom
4 m/s. France
1:6244
4.6714
6 mja. Franca ......
Demand, Germany..
Demand, New York. 774 TT Bombay.
Demand, Bombay........ Non TIT Calcutta........ Demand, Calcutta... Nom. Demand, Manila ..... 154 Demand, Singapore, 13744
On Haiphong .onion 5 DIC
pren.
On Saigon 5% On Bangkokt #7.............. 4758 Sovereign
6,10 Kom
Gold Leaf, per o.... 40.80 Bar Silver, per oz. 5254
SUBSIDIARY COINS,
DISCOUNT PER⋅ $100: Chinese...20 cts: pièces ¿ís. Chinese...10
8% die. Hongkong 20 cts, piecos Hongkong 10
par.
NOTICES:
NOTICE.
* LIMITED.
11.00 $.
10% O 18.00 4.36.1 12.30 AM. 10 IST..
LLS.3. 14
1.16 r.. LAS 2.26
JUM
NIGHT CLUB.
18 MIN.
L80 PX ad $ 7.x. 9.300 11.00 n. every half hour.
11.00 to 1.4 p.. *stery, quarter of an hour
BUNDAYS:
1.00 ...
10.30 HUMAN MO 11.00 4.M. 11. 10
18.00 Noos
19 Moon to 100 TM.
1.0 73.66 EK PY
IMF.X.X 620731 LTX
4.00 PM
4.80 1.1.
Xar: Mix,
Ju M.
16 MAN.
I Mix
15 MIN.
10 MIN.
16 MIN.
30 Mu
XXRET CARE so'ng Werk Dare
SATURDAYS:
Extra Car at Miteight.
IPECIAL CARE
By KETangment at the Company's Dicle. Dezandra Bulldogs.
Dee Fort Eged
*Son and punch tiskata avaliable for all no sireedy full, running at the busSA MOŽNÍ the Company', štene tablas, but not for special earl pen be distained on application sẽ the Company's Offias --No Sesain ticket will be has been mada
·šerned zzzül payzzent therefor Ben Bank: Bosse_or_by_Chaque or Compradora order reprasecting Bank Notes.
JORN D. HUMPALETS & CO%
THE CHINA PROVIDENT LOAN AND MORTGAGE CO., LTD. (Capital Paid up...$1,250,000.)
. . . .
Lab on Brigage of Judae P'rogarty, he. Geoča zeceived on KorsCO.
Advance zada no Merchandise. Zeara roade as the Provident Batem
TRUSTEE, EXECUTOR OF WILLA ATTORNEY, Ai. Undertaken and Meannied.
Kaser and Particolare en ayyization),
To the Office of SHEWAN, TOMES & CO.,
General Managers.
MARTIN'S
APIOLASTERL
BENEPILLS
A Frame Hamady Joe altErro©da»Stren
Bene vala, ALI Chenille and Blærpe unit álmat Paranglovak km Varik, ar pan tran bơ
MARTIN'S APIOL
Paid p
·Reserve Fund
H
BANKFR
......£1,500,00
The Bark of England
1,125,ore
562.500
600,00€
+
The London Joint Stack Back, Länk sej
BRANCHE
PONGKONG ERANCH. Every description of Eaching and Exchang Business iransacted.
Interest allowed on Current Accounts at eDAY CE per anuni on Daily Balances, and on Fixed Deport at rates which may be ascertainat on appilcado.
C. CHAMPKIN,
Acting Manager,
INTERNATIONAL BANKING,
CORPORATION,
HEAD OFFICE:
ss, Wall St., New York
LONDON OFFICES"
ge, Bisdorpsta E.C
CAPITAL & SURPLUS US, $6,300,001. UNDIVIDED PROFITS -UE. $1,010,0
HOMRAY
CALCUTTA CANTON CEFU. POLOK
BRANCH:
LONDON MANILA NEOELLIN
PANAMA PFKING.
BANKOW PUERTO RONGKONG PLATA
.... KORE
U.8. $7,510,000
FAN PEDRO
DE MAFORIS, BANTO DOMIZUN FAN FRANCISCO SHANGHAI SINGAPORE TIENTSIX YOKOHAMA
with
Aliation
Throneb Its close NATIONAL CITY BANK OF NEW YORK, the Bank is able to offer sur Services of the Branches of that Institution la America, nad elsewhere, namely!==
BAHIA, BUENOS AIRES, GENOL, HAVANA MONTEVIDEO, RIO A DE“ SANTIAGO DE CUBA, KANTOS,
JAKEURO PAULO, PETROGRAD VALPARAISO,
S&C
All kinds of FOREIGN & LOCAL BANKINI BUSIF anacod.
CURRENT ACCOUNTS opened and FIXE: DEPOSITS received at rates to be ascertalsed a application.
GEORGE HOGG,
Manager,
Hongkong. 26th September, 1916
THE
YOKOHAMA SPECIE BANF.
LIMITED.
Established 1880.. Authorised Capital Yen 48.000.000 Paid-up Capital..... 36,000,000 'Reserve Fund.............. 22.100,000 Foad Office-YOKOHAMA
Branches Antone-Kalen 15ombay Calcutta Gpangroom Dair Tangien
Harbin
Kankow
Hal
Robe
London
Log Angelos Tengta
H
and
Nogami Nowshang HAW YORK
Tekler
Bycjin (Fon
Bhanghai
Bydosy
Blades
Ta
Tokyo
Passata
ater allowed on Currant Accounts. Depriam
•, montred for fixed periočia až rates to las obtaine
an application
EISHI ONO, Manager Hongkong, 11th September, 1917.