1934-09-19 — Page 6

t

BANKS

HONG KONG AND SHANGHAI BANKING CORPORATION.

Anshorised Capital

$50,000,000 Leed and Pally Paid up 20,000,000

Berre Funds

Stocking

£6,500,bing' $10,000,000

•

Berr Liablity of Proprietors... 190,000,000

HEAD OFFICE, HONGKONG,"

BOARD OF DIRECTONS,

Lion. Mr. C. G. 8. Muskin

Chakman,

8. H. Dedwall, Exy.

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.

Incorporated by Royal Charter, 1858.

HEAD OFFICE: LONDON

Paid-up Capital

Reserve Fund

£3,000,000 .£3,000,000

Reserve' Liability of Pro-

prietors

.£3,000,000

Ageneles and Branches:

Alor Star

flotla

Bang

Acuritsar

Bangkok

Karie

Hon. Mr. W. 1. Ball

G. Miskin, Esq.

Daria

Kiwa

Bagon Remaran

bati

Brabey

A. I. Compton, Eng.

6. b. Morrison, Esq.

W, J. Keswick, Esq.

TE. Pearce, Lag.

Caloutte

Kun's

Hanghai Fingapor

Canloo

Lumpur

§. 3. Kolgas, Exp

Campor

Cebu

Colombe Delhi

ieitai

Kuching

Sourabaya

Sentia

Talping Tietz

Tooke

Haiphong Hamburg

New York

Petplus

Taington

Haskow

£Faite

Yakobus

Tacnog

Zamboanga

AMGY DANGKUS BATAVIA BUMBAT CALCUTTA CANTUN OHEXUO COLOXBO DAIREN

Deputy Chairman.

V. M. Graybaroj Zeq.

Chlef Manager.

PRANCIES:-

LONDON LIONA

MALACCA

MANILA

51UAB Jones)

MURDEN

PLATING

PENANU

BANDDOS

SAIGON

NEW YORK

PLOCHOW

TIPHON

HAMBUNG

BAN FRANCISCO

BANKOW

HARBIN

SHANGHAI

YOURADAYA

HESTSIN

HONAKEW ILOILO

LIGH

JOHURE

KOBE

KOWLOON

KUALA LUMPOR

SINGAPORE

SUSOE! PATARI

TUNYO

ISING FAO YORDITASIA

Current Accourts opened in Love Coureury

and Fixed Deposits received for one year or akorter periods in Local Company and Berlins

od terra which will be quoted an application, Hong Kong, ath April, JORA,

Harbo

Jong Koor

Bedan

(haku)

Foreign Exchange and Jaucrat Banking Dust tranected.

Curreal Amounts opened and Fixed Deposita recited for ne year or solar partsds at ratan which will be quosad on application.

W. H. E. THOMAS,

Acting Manager.

Hong Kong, 20th February, 1934.

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 19, 1934.

Commerce and Finance

HUGE DEFICIT EXPECTED IN DUTCH BUDGET

Drastic Expenditure Cut Should Greatly Lighten Burden

The Hague, To-day.

A deficit of 92,002,000 guilders is anticipated in Holland's 1935 Budget, but a draxtle eut in expen-. diture is expected; to reduce it to 762.000 guilders.

The estimates include a contribu tion of 12,000,000 guilders towards the Navy in the Dutch East Indies. -Reuter.

NEW YORK STOCK EXCHANGE

THE BANK OF CANTON, LTD. S. E. Levy And Co. And

Established 1912.

Head Office: Hong Kong.

Authorised Capital

Paid-up Capital

Tatal Robourcea

A.O.F.C. Quotations

Now York. Yesterday. $11,000,000 |

8,655,000 The following quotations from. New 32,170,492 York have been received by Mesars. Branches: Canton, Toishan, Shanghai, S. E. Levy and the American Oriental | Hankow, Bangkok & San Francisco. Finance Corporation.

London Bankers: Lloyds Bank, Ltd.,

+2

LOCAL SHARES.

TODAY'S QUOTATIONS.

The following is the list of local share quotations issued to-day:

Banks.

LATEST QUOTATIONS Chartered Bank 16% n.

The following quotations have heen received by, Messra. S. E. Levy, and Co., and the A.O.F.C.

New York Cotton:

July Chicago Wheat:

Sept. 17 Sept. 18)

H.K. Bank 1725 n. H.K. Bank (London), $138 n.

Mercantile Bank, A. & B. £301⁄4 0. Mercantile Bank C. 13. Bank of East Asia, 90 b. - ' Am: O. Finance Corp., 2h. $20 n. China: O. Fin. Ord, Sh: China 0. Fin. Pref. Sh: $5 n.

Insurances,

Canton Ins., $290 n. Union Ins., $536 b. China Underwriter, $1.15 n. China Fire Ins., $610.n. H.K. Fire Ins., 8247 b. International Aasce. Sh. 86 A.

A Shipping. Douglases, $401⁄2 b.

H.K. Steamboata, 87 n. Indo-Chinas (Pref.), $80 n. Indo-Chinas (Def.), $38 n. Shell (Bearer), 47/6 n. Union Waterboats. $13 n.

Mining.

Antumoks, 64 ets. b. Balatocs, $37 b. Baguio Gold, 47 b. Benguet Consolidated 42% cts. b. Benguet Exploration 18 cts. b. Benguet Goldfeld, 20 cta. n. Big Wedge, 12 cts. n.

Closing Closing

*

October December January

12.84

12.74

March

May

July

Spot

12.91 12.85 12.03 12.86 13.02 12.94 13.04 12.97 13.07 13.04 13.05 12.95

New York Rubber:

October

15.30 16.26

December

15.56

15.46

January

15.66

15.57

March

May

15.93 15.85 16.19 16.08 16.45 16.36

September

December

MayTM

1041% 104 104% 104 105% 104%

Chicago Corn:

September

772 77%

December

77%

773%

Lat?

!

The Business of the ahora look is conduct.

Foreign Exchange and Banking business of every discription trana-NY/London

Cotton Dee.... 1291 1299 1297 Current Accounts opened and Fixed Mar. Deposits received for one year or Silk Dec. shorter periods at rates which will be Rubber Dec. quoted on application.

Mar.

Close Opening Noon

May

793%

79

Gold Creek, $2.

5.00% 500% 500 Winnipeg Wheat:

Gold Rivers, 23 ets. b. -

October

83%

822

Ipo Mining $21⁄2 n.

1302 1308 112

1308

December

83

8314

Itogons $5 n.

13152

May

88

87%

1556

1562

1593

1590

New York Sugar:

Chief Magar.

Safe Deposit Boxes (various alzes)|C, Wheat Dec. for hire.

LOOK POONG SITAN,

Chiel Manager,

104%

1044

October

1.92

1.90

S'hai Exploration, Sh. $5 n.

May

105%

105%

March

1.93

1.03

S'hai Loans, $61⁄2 n.

C. Corn Dec... 77%

774

May

1.97

1.96

Raube $18 cum div.

May

79

791

New York Sik:

W. Wheat May. 58

.88

Venz; Goldfield, 5 в..

STOCKS:-

December

1.12

1.13

Docks, etc.

Amer Smelt

321

32*

33

February

1.13

1.14

Auburn

213

21%

2011/

April

1.13

1.14

Con Gas NY

254

25

2514

Du Pont

841⁄2

8414

85

El Bo and Sh.. 9%

0%

94

Gen Mators...

2734 -27

2714

Int. Tel and Tel 84

8%

81

Loew's Inc. .... 25

27

45 45

45%

224 22

27%

The Oficial Summary of the Hong Kong Stock Exchange frenad yesterday at 3.16 p.tn.

18%

18%

19

Stan Oil NJ ... 41%

10% 19%% 41% 4144 12

12

30%

304

London Prices.

HONG KONG SAVINGS BANK. acted.,

ed by the HONG KONG AND SHANGHAI

BANKING CORPORATION, Bula

ebloed oopplation.

POR THE BONG KONG AND SHANGHAI BANKING CORPORATION

V. M. GRAYBURN,

Bong Kong February, 1954.

THE BANK OF EAST ASIA, LTD.

Aiborleed Capital

P-up Cogitát ..........

Borys and Undivided Prožis.

$10,000,000,00

.. 0,596,691,6N.

---------- $2, $14,000.00

READ OFFICE-HONG KONG

12, Day Yes Road Central

www.

BOARD OF DIRECTORS:-

She Noon Chow, Chair.

SAFETY FIRST!

To Safeguard Your Valuables and Jewelleries.

Deposit them in a Vault

that is really:

FIRE PROOF

BURGLAR-PROOF

DAMP - PROOF!

OUR SAFE DEPOSIT VAULT McIntyre

Xoan Chun, Eng., P. X. Ewok, Leq., Wour located on the Mezzanine Floor of Mont Ward Tea Toor, Pag, Chas Chtag bak, Peg Ll Lan Bang, Fag.. Wong Chu 500. Esq. and Ban Ting Our New building is Specially Con- Nat Distill

structed to provide all of these ImNY Central portant Qualities.

Po, Esq.

Amoy

Han Tong Pa. Eng., Chief Manager, Li Tra Pong. Faq.. Managar,

BRANCHES AND AGENCIES:-

Signkl

Osaka Paris

bositle

panaghe

Singapore bourabaya Bansow

Taikoku

Alaniie

Betavis Bombay Calcutta

Sel nurse

New York

Haiphong Haakon Elecotulu Kabe Kowlood

Priping

i bydley'

Perian

Hasgeon

Tisataia

balgon

Tokyo

London

San Francisco

Vancouve

Yokoham

Bule transacted.

Exchange Los Based on approved

Every description of exklug and

You may

obtain a Safe

SHARE MARKET.

The market remains with a con- tinued quiet demand for the better class counters, but owing to the wide divergency hetween buyers and sellers Ideas of prices The following quotations from Lon-business is difficult. Towards the don were received last night between close there were 5.30 p.m. and 10.30 p.m.

12% Deposit Un Aircraft Box in this most up-to-date Vault for U.S. Steel 29% your own use at a very moderate Ren- tul.

Inspection Cordially Invited.

THE NATIONAL COMMERCIAL & SAVINGS BANK, LTD. Corner of Ice Boose Street and Des Voeux Road, Central.

THE

many enquiries

Silver: Spot 21% (laat close) 21% for China Lights both for cash (last recd.) unchanged.

and forward deliveries.

Forward 21 13/16 (Jast close) 21 13/16 (last reed,) unchanged.

Silver Report:-America and specu lators bought. China Bold. Market steady.

Gold: 140/5% (last cinse), 140/0)

#cursu Arngunis opened it Local Cure AMERICAN EXPRESS COMPANY, (last close), 1/2d. up (change).

and

Desafia repaired for 004 your D

skorise periods, Local and Foreign Currencies

en terms which will be quoted as application.

Bale Deposit Soses To Let,

KAN TONG PO,

INC.

Head Office-65, Broadway, New York

Chis! Maungar:

Hong Kong, Jst March, 1934.

Capita! Surplus

THE BANK OF TAIWAN, LTD.

Reserves

.U.S.$6,000,000.00

2,087,112.00 1,995,528.31

Bend Ofce: Taihoku, Formosa, Incorporated in Japan by Special Imperial Charter, 1899.

BRANCHES:

Amsterdams

Gano

Antwerp

Gingow

Athaca

The flague

Milan Nice Naples

A

Havana

Pizant

Benle Brello

Hamburg

Paris

Bombay

Brom Becausla Calro

Onfigita Ceause Colombo

Dublin Edinburgh Florabes Elenera

Havre Heidelberg Interisken Jerumala Loadou Liverpool Luperca

Topla

Talerped

Retlerde

Shingl

Copenhage

Lugano Luxor Marsilios

Viensa

Blonte Carle

Manlia

Munich

Vanice Yokohama Zurich

Montreu

Central Bank of Formosa, Notes

issued Average amount Y.45,000,000

Branches and Agencies. Japan:-Kobe, Osaka, Tokyo, Yoke

hama, Keelung, Makong, Nanto, Shoka, Sinchiku, Taichu, Tainan, Taito, Takao, Tamsul, Toen. China:-Amoy, Canton, Focchow, Han-

kow, Shanghai, Swatow. Otheres---Bombay, Hong Kong, London, New York, Singapore, Batavis, Samarang, Socrabaya, Dairea.

Southampton

Bingapor Thanksto Taormina

On and after April 20th, 1934, the rate of Interest on Spacial Current

Branches of American Expresa Com- Deposit will be at 14% p.a., on daily

in Principal cities of United balance and the rate for balance over pany $10,000 will be quoted on application States of America and Canada. (Maximum rate-1%),

Hong Kong Branch

Y. OHNO,

Manager.

3. Des Voeux Road, Central.

All classes of Commercial Banking Transactions undertaken.

Personal investment accounte handled.

THE YOKOHAMA SPECIE BANK Travellers the use of its "Travelers

LIMITED.

Established 1880

Capital (fully paid-up) Yea.100,000,000 Reserve Fund

Yen.124,250,000

Head Office:YOKOHAMA

Branches and Agencies at:

Nagasaki Nagoya

New York

Osaka

Paris

Pelping

Bangoon

San Francisco

Fengtien (Mukden). Ela de Janeiro

Seattle

Alexandria

Batavia

Berlin

Bombay

Calcutta

Canton

Dairen (Dainy)

Hamburg

Hankow

Barbin

Shanghal

Singapore

Soi rabaya

Sydne

Tokyo Taingtap Yingkow

Kary

Kobe

London

Zos Angeles'

Manila

Semarang

Mojjazy

Kurset allowed en Ozren Deposits received for fixed

Tlods +37 zuten, to be obtained on application.

GO KISHINA

Hong Kong, 11th September 1984

The Company offers to intending

Cheques" and Letters of Credit and, In addition, the world-wide services bf its thoroughly equipped Travel De- pestment.

C. H. BENSON,.

General Manager.

London/N.Y, Selling Rate: 5.00% (last close), 5.00 11/16 (last recd.), 1/16 down (change).

London/Paris Selling Rate: 75,03 (last close), 74.96 (last recd.), .07 down }(change).

Liverpool Cotton-Oct.: 6.79 (last (close). Jun: 6.76 (last recd.)

Liverpool Wheat-Oct.: 5/61% (last) close), 65% (last recd.), (change),

down

London Rubber-Det.-Dec.: (bayers) 27/16 (inst close), 7 7/16 (last recd.), unchanged.

London Rubber-Oct-Dec.: (sellers) 7% (last close), 7 9/16 (last recd.), 1/16 up (change).

London Rubber-Oct-Dec. at nopa (buyers) 74 (last recd.)

London's Forecast

A forecast from London on the pro- bable trend of the New York market) states:

Little business is expected on Wall Street.

In the Wheat market little change is expected.

Rubber prices are expected to be down.

The Cotton market is expected to bel healthier. The relative strength of October option, in spite of normal pre- Notice Day Liquidation, indicates an esger demand.

LOCAL DOLLAR STEADY

Silver Prices Steady

The local dollar remains steady, opening on demand this morning at 1/6/2 unaltered, closing prices yesterday THE MERCANTILE BANK OF being 21% and 21 13/16, respec-

INDIA, LTD.

HEAD OFFICDi

15, Graosahurah Biresi, London, 2.0.1. Authorised Capital

£3,000,000 Subscribed Capital 1,800,000 Paid-up. Capital

1,050,000 Reserve Fund & Rent.. 1,247.488 BANKERS

The Bank of Borland Tidland Bank, Ltd.

GAN BRAKOZEST

Bangkok

Hombey

Calcutta

Colomba

Dalbi

Galle Hody Kong

Ipak,

Kandy

Karahi Mere Port Louis Kota Banen

(Maurition), Kuala Lumpur Bhangbai Zesatan (Pahing)", "fmladolet Hidros tarikh Singaporn KCSÓ KONG, BRANCH

•Bvacy: description of Banking szá

Trustee and Executorsh

| IgaBB8) 'allowed on : Durriná Prosila ni Raton that; tour

Hong Kong, 12th Juns, 1984

Spot and forward aliver remain

tively.

The London on New York cross-

Sales,

Union Insurances $537% Underwriters $1.15 H. K. Fires $249. Gold River23 cts. Raubs $13.30 Cum. Div,' Ewo Cottons Sh. $10.90 H. K. Trams $201⁄4 China Lights (Old) $8.65 China Lights (New) $8.40 H. K. Ropes 33% -

Buyer

Bank of East Asia 889 Union Insurances $535

H. K. Fires $247 Douglases $40% Antamuks 62 cts. Balatoca $37. Baguio Gold 47 cts. Benguet Consolidated $42 Banguet Explorations 18 ets. Raubs 813 Cum. Div, Ewo Cottone Sh. $10.85 Hotels $5.40

H. K. Landa $50 Realties $470 Chinese Estates 589 H. K. Trams $201⁄4 ̃ China Lights (New) $8.35 China Lights (Old) 88.60 Telephones (Old) $28.90 Telephones (New) $11.10 Singapore Tractions 5/- Singapore Tractions (,Pref)-17/6} Dairy Farms $244 Constructions (New) 78 cɩs, Govt. Loan (4%) 6%. Prem. Govt. Loan (8%) 3% Frem.

Sellers Sandakan Lights $8 Malabon Sugars $9 Cements $2.60

H. K. Ropes $3.65

PESSIMISM RULES ON WALL STREET

rata yesterday remained unchanged Traders Adopt Waiting jat -U.S.45.00%, while the New York on London rate closed un- changed at £U.S.$6.01.

THE SHANGHAI COMMERCIAL &SAVINGS BANK LIMITED.

(Incorporated in China)

Capital paid up $3,000,000 Reserves **** $7,000,000. Capital Savings Dept. $500,000. Rosarre Savings Dept. $800,000,

Head Office-Shanghal

A Bank having as its mission the industrial development of China. and the fostering of her comm cial relations abroad, bydd Hong Kong once-7 Ice House 8t.

Phone 31481-3-

Attitude

SPECIAL TO CHINA MAIL.

New York, To-day.

Stock markez traders, are some- what pessimistic and have up- parently adopted a waiting atti tude,

Favourable factors. yenterday

Kailan 24/9 n.

Langkats (Single) Sh. $17% 11.

H.K. Wharves, $111 n. H.K. Docks, $14% n. Providents (old), $11⁄2 n.

Providents (new), $50 cts. n. Hongkews, (old) Sh: $3091⁄2 n. Hongkews. (new) Sh. $308 n. New Engineerings, Sh. $4% n. S'hai Docks, Sh. $118 n.

Cotton Mills. Ewo Cottons, Sh. $10.90 an. S'hai Cottons (old), Sh. $75. n. S'hai Cottons (new), Sh. 844 n. Zoong Sings, Sh. #111⁄4 n. Wing On Textiles. Sh. $55 m.

Lands. Hotels, etc.

H. and S. Hotels, $5.40 b.

H.K. Landa, 350 b.

S'hai Lands, Sh. $27 ́n Metropolitan Lands, Sh. $14 n. Humphreys, $10 m. H.K. Realties, $4.70 n. Asia Realties "A", Sh. $140 n. Asia Realties. "B" Sh.$20 n. Chinese Estates, $90 b. China Resitles,-Sh, $15% D. China Debenture, Sh. $187 n.

· Public Utilities. H.K. Tramways, $20% b. Peak Trams (old), $15 s. Peak Trams (new), $7 n.

Star Ferries, $98 n.

Yaumati Ferries, 121 n.

"TRADERS CAUTIOUS

ON WALL STREET

Constructive News Still Lacking

· PESSIMISTIC OUTLOOK

New York, To-day. The market was steady yester- day. Important and constructive news is still lacking, and, with Wall Street inclined to draw pessimistle Inferences from the fact that aver- ages are hovering around the low levels for the year,

continued cautious trading market is expect jed...

B

NEW ADVERTISEMENTS ·

CUSTOMS NOTIFICATION.........¦

THE OFFICES and STATIONS

of the CHINESE MARITIME CUSTOMS for Kowloon and Dia. trict. will be 'CLOSED to Publiq Business on the 23rd. September, 1934, Being a Customs Holiday.

E. N, ENSOR, Commissioner of Chinese Custome

Kowloon and' District. York Building, Hong Kong, 18th Sept: 1934;.

HONGKONG AND SHANGHAL INTERPORT POLO DINNER

TH

S. E. Levy And Company's Report

In their market report. Mesars THE above Dinner will be held. 3. E. Lavy and Company, corres- at 9.15 p.m. on SATURDAY,. pondents for Messrs. White. Weld September 29th, at the Gloucester and Company, New York state: Building. Will members of The "Stocks: The lack of any con- Hongkong Polo Club intending to structive news caused further be present kindly notify'Captain J. liquidation. We still believe there L. Jordan of Murray Barracks at an is time for moderate purchases to early date. be made in the general area before

a trading rally occurs, Business

done: 530,000 shares.

"Bonds: - High-grade and Gov- Is It Insured? ?

ernment issues were slightly higher and some of the. blocks which have been overhanging the market wire moved at slightly under current prices. Second-grades were better in spots.

"Wheat-Cash wheat and near-

Insurance All Classes LOWEST RATES

American Asiatic Underwriters Fed, Inc. U.S.A. General Agents

-Shanghai.

by futures were working towards Head Office a premium over May shipment. [17, The Bund, Hedge sales in Winnipeg were on the light side, pending fresh insen- tives. Profit-taking is expected to continue on all fair advances. Monday's sales: 19,654,000 bushels; Com: 13,182,000 bushels.

"Cotton: - Southern offerings were heavy and demand was in- different. Unwarranted gossip re- garding a modification of the Bank- head Bill had a depressing influence Jon the market. Reports indicate that the Government sold "spot" cotton against purchases of futures. (If this is continued, a lower basis

is likely.

(Continued on Page 11).

Latest Quotations

H.K. Ofice Anis Life Ballding Tel. 30284.

VAST AUTOMOBILE MERGER

Persistent Rumours In United States

SPECIAL TO CHINA MAIL (By Telegraph, Copyright, Telegras phic Messages Ordinance, 1886, Re ceived Septembēr 18, 8.45 a.m.)

Chicago, To-day.. Mr. Cord has arrived here, thus- raviving the rumours of a merger between the Auburn, Pierce-Arrow, Rao and Hupmobile companies, giv ing the Cord concern the fourth The following quotations have largest motor company after Gen- been received through Messrs. 8. Eeral Motors, Chrysler, and Ford.--- Levy and Company and the Ameri- United Press, per S. E. Levy and

Oriental Finance Corpora Company..

Can

ition:

New York, Yesterday.

Last To-day's close close

5,00% Un-

N. _Y./London-

Cross-Rate ... 5,01~

N. Y. Cotton-

Dec....13.00 N. Y. Rubber-

Dec.

Chic Wheat-

Dec.

Chic Corn-

RAILROAD INCOMES. IN AMERICA

changed Pennsylvania Slump

12.82

.06 off

.16.54 15:42 * .10, off"

1.05% 1.03% '% aff

SPECIAL TO CHINA MAIL.

New York, To-day. The net income for July of the Atchison, Topeka and Santa Fe 77% 78% off Railway Company, amounted to.

[U.S.32,145,684, -as against US$1. ...unchanged 953,828 in July last year.

(Dow Jones ATgJ

Dec.

C. Lights (old), $3.60 b., $8.60/-

65 sa,

Silver

Official

C. Lights (new), $8.30 b., 48.40

- BA.

30 Industrials.

20 Utilities 40 Bonds

H.K. Electrics, $70% b., $71% s. 20 Rails

and sa.

Macao Electrics, $25 n. Sandakan Lights, $8 e.. Telephone (old), $29.90 b, Telephone (new); $11.10 b. China Buses Sb. 18.20 n. S'pore Tractions, 4/6. b. Singapore Pref., 17/6 b.

Industrials. Malabon Sugars, $9 8. Cold: Macg. (ord.), Sh. 421 n. Cold: Macg. (Pref.), Sh. $20 n. Canton Ices, $2.70 n. Cements, $2.60 5. H.K. Ropes, $31⁄4'sa.

Stores, etc. Dairy Farms, $24 bi Watsons, $5.60 m. Der. A. Wings, $1 u. Lane, Crawfords, $4.15 m. Mackintoshs, $21 n.. Sinceres, $10 n., Wm. Powells, 70 cta. n. Wing On (H.K.) $110 n.

Miscellaneous.

-

H.K. Amusements," 56 n. - Entertainments, $7% n. S.C. Enterprises, $1.80 n. United Theatres, Sh. $1.

Macao "Greyhounds," #2 n.

Constructions (old), $1.80 m. Constructions (new), 78 ets. b. Ch. Govt. 5% 1925 G#Bds

*87% 0.

H.K. Govt 4% Loan 6% prem. HK Govt. 34% Loan 84%

prem. B

Wallace Harpers, $7% 8.

were the continuation of inflation LOANS TO BUSINESS UP IN US. sentiment and the improvement in

the steel outlook,

Washington, Unfavourable factors were the the flow of credit to reports that bids on the bond mar, Federal

ket are carce and the apathetic

with buying acarcity more investm -United Press, per 8 EFI

and Comp

and Col

11 Commodity In-

dex

The Pennsylvania Railroad Com--. 86.69 87.37 .68 up pany's net income for July totalled 33.19 33.28 .04 up U.S.$810,400, as against U.S.$4,424,- 18.73 18.80 .07 up 987 in July last year.-United 90.27 90.31 .04 up Press, per S. E. Levy and Company. 81.89 91.84 .35 off

18 Lending Stocks,

Amer Can Amer Smelt & Ref Amer Tei & Tel Auburn...

J. 1. Case

WAR LOAN REACH

HIGH RECORD-

95%

384

10915

201

British Government

$8%4

Du Pont....

8432

Elec Bond & Share

91%

General Motors

127%

8%

Int Tel & Tel McIntyre Montgomery Ward Nat Distillers N. Y. Central Socony-Vacuum Union Pacific United Aircraft {U. S. Steel

Went E & M

23%

Stocks Improve

London, To-day, The outstanding feature of the 45 London stock markets yesterday 18% was the appreciable gain register- 19% ed by British Government, stocks, 18 as the result of strong, investment 95% ∙11%%

support, with War, Loan at 81⁄2 por 30% cent. closing at a new high record 29 of 105%-British Wireless Service

S. E. Levy & Co.

UNDERWRITERS AND DISTRIBUTORS

COMMODITIES BOUGHT AND SOLD ON COMMISSION

DAILY NEW YORK STOCK AND COMMODITY SERVICE

SECURITIESHAWN MEN

Kombera:“

NEW YORK COTTON-EXCHANGE);

COMMODITY EXCHANGE, INC. CHICAGO BOARD OF TRADE

CORRESPONDENTS FOR

WHITE, WELD & CO. NEW YOLK

-7 ICF HOUSE STREET" HONG KONG

Hög

ness, the

Tel. 30101 and 30108

Tell Address:Selco