1937-04-29 — Page 17

THE CHÍNA MAIL, APRIL 29, 1937.

MANIŁA STOCK EXCHANGE

MORE OPTIMISTIC MARKET

A stronger and more optimistic tone ruled the gold share market during the week of April 19 to April 24, and prices generally moved ahead and were well sustained, the weekly survey of the Manila Stock Exchange showed.

BIGGER COAL DEMAND MET

Quota Shortage Denial

..

Statements that there is

coal famine in England due to restricted were emphatically quota allocations, denied both by the Mines Department and the Central Council Colliery

of Owners, under the Coal Mines Act.

It was admitted, how ever, that there Activity commenced at the opening was still a lack of skilled coal hewers, on Monday and continued with only and that the increasing demand for momentary lulls up to the closing on coal in special sizes added to the dif- Saturday. The total turnover from

Recently ficulties of colliery owners. Monday to Saturday's close was 88,-output was also hampered by the in- 814,020 shares, representing P10,750,-fluenza epidemic, but this had now 936. For the same period last week the total turnover.

42,474,463 was shares, in terms of pesos, P5,280,046.

The order of the Governing Com- mittee of the Manila Stock Exchange against short selling continued in force during the week.

The highest increase in price in any stock was in San Mauricio which moved up 95 points. United Paracale was next with an increase of 37 points.

Marsman Dividend

A dividend notice was sent to mem- bers on April 21 in the following cir- cular:

abated.

pointed On the other hand, it was out, these circumstances had nothing to do with the coal quota allocations, which had been greatly increased in recent months, and were now ample. The Central Council issued a statement which included the following:

"The statement published in a Lon- don newspaper that there is a coal famine in this country as a result of the operation of the quota system is quite unwarranted.

"Even such difficulties as have been experienced have nothnig to do with the quota."

"Notice is hereby given that the Board of Directors of Marsman & Co., An official of the council explained Inc., has declared an interim dividend that while there may be 100,000 mine of P1.25 per share, payable on April workers unemployed, 60 per cent. of 29, 1937, to shareholders of record on them were probably unskilled. Skilled April 24, 1937.

coal-getters were in great demand.

Last month, for the first time for "The Transfer Books. of the Company will be closed from April 24 to April seven years, the demand for coal had 29, both dates inclusive, for the purpose called for an output exceeding 5,000,- of determining the shareholders en-000 tons a week for four consecutive titled to said dividend and the prepara- weeks.

tion of dividend checks.

"This stock will, therefore, be 'ex- dividend' effective April 22, 1987.”

The fortnightly review of the Ex- change distributed on April 20 and covering the period from April 1-15, showed a total number of shares sold as 74,637,400 as against 92,863,200 for the previous fortnight.

LIBERAL VIEW OF FOREIGN POLICY

'May Lead To Disaster'

BANKS

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

Incorporated by Royal Charter, 1868.

HEAD OFFICE: LONDON

Paid-up Capital Reserve Fund Reserve Liability of- Pro-

prietors

Agencies and Branches:

Alor Star

BANKS

HONG KONG AND SHANGHAI

BANKING CORPORATION

Authorised" Capital:

$50,000,000

Issued and Fully-Paid-up 20,000,000 Reserve Funds:

prietors

HEAD OFFICE: HONG KONG.

BOARD OF DIRECTORS.

G. Miskin, Esq.,

Chairman.

Sterling

2,500,000

Hong Kong Currency

Reserve

$10,000,000

£3,000,000

Reserve Liability of Pro-

£9,000,000

.£8,000,000

.$20,000,000

Amritsar Bangkok Batavia

Dollo Ipab

Hangoon

Saigon

Karachi

Klang

Samarang Seremban

Bombay..

Fobe

Calentta

Kuala Lumpur

Kuching

Madras

Manila-

Shanghai Singapors Bleiswan Sourabaya Taiping

Medi

Tientein

New York

Tongleah

Poiping

(Bhuket)

(Poking)

Tsingtao

Penang

Yokohama

Zamboanga

Canton Cawnpore Gebu Colombo Delhi Haiphong Hamburg

Hankow

Harbin

Hong Kong .

Foreign Exchange and General Banking business · transsoted.

Current Accounts opened and Fixed Deposits received for one year or shorter periods at rate# which will be quoted on application,

The Bank's Head Ofice in London undertakes

business, and - Trustee

and・・ claims Executor recovery of British Income Tax overpaid, an terms which may be ascertained at any of its Agencies and Branches. ·

R. W. ROBERTS,

Manager. Hong Kong, 1st January, 1985.

THE BANK OF EAST ASIA, LTD.

Authorised Capital ...$10,000,000.00 Paid-up Capital .. $ 5,598,600.00 Reserve

Profits

and Undivided

$ 2,776,728.76

HEAD OFFICE-HONG KONG. 10, Des Voeux Road. Contral.

BOARD OF DIRECTORS: Hon. Sir Bbou-son; Chow, Chairman; Li Koon

Chan Obing Shak,

E8Q-3. K. Kwok, Esq. Wong Yus

The Securities and Exchange Com- A resolution expressing the con- mission, in an order signed by Com-

viction that the Government's missioner R. Nepomuceno, has formal- ly notified the Manila Stock Exchange foreign policy may lead to disaster chun, that it has been officially registered as will be discussed at the annual

Sans a securities exchange. The order reads conference of the Liberal party, Fo, Esq.," in part "that the rules of the said ex- which opens at Buxton on May 27. change are just and àdequate to insure fair dealing and to protect investors."

The Exchange will be closed April 30 to May 2, both days inclusive, those days being legal holidays.

SEARCH FOR OIL IN ENGLAND

Amoy

Fong Ping Wah, Eaq.

Wong Chu Bon, Esq. and Kan Ying

Kan, Tung. Por Esq., Chief Manager. Li Tee Fong, Esq. Manager.

BRANCHES AND AGENCIES :—

Batavia

Manila

· Melbourne

Nagasaki

New York Osaka Paris

Seattle

Semarang Stanghal

Eingapore

Sourabaya Swatow Bydney Taiboku Tientain

Bombay

Calcutta Canton

Haiphong Bankow Honolulu Kabe Kowloon London

Rangoon

Salzon

Sar Francisco

Tckro Vancouver Yosobama

Peiping Feuang

The true object of international on policy, it states, should be the res- toration of the influence and au- thority of the League of Nations, whose primary function should be the creation of the conditions of

and peace

the removal of grie- vances. At this moment the sub- jects which most urgently call for solution are control of colonial territories, distribution of raw ma- terials, stabilisation of exchanges,

Current Accounts opened in Local Currency and Fixed Deposite received for Ono year .or and accessibility of markets.

shorter perioda "în Local and Foreign Currencies The Anglo-American Oil Company "It is the duty of the British Gov-on terms which will be quoted on application. Ltd. has made a location one mile

Safe Deposit Boxes To Let. ernment," the resolution adds, "to

KAN TUNG.PO, north-east of Hellingly, Sussex, for its

Chief Manager, first test well in the search for oil in make it clear that it is willing to England. The well will be on Grove do everything in its power to meet Hill, a geological structure which has genuine grievances, provided that been found suitable for the accumula- this is a part of a general settle- tion of oil or gas.

Sussex Test Drilling

The actual presence of, these pro-ment which will include the return ducts, however, will only be known to the League of the countries when the deeper layers have been pene- which have left it and an agree- trated by the drill. The well will ment upon all-round disarmament.

probably be drilled to a depth of 4,000 | feet. About 30 men will be employed for this work. Drilling will be started early in May and will continue for be- tween four and six months.

to

While the primary objective is strike crude petroleum, exhaustive tests will be carried out to try to find the main source of the small gas indica- tions which were discovered some years ago at Heathfield.

TURKEY'S £3,000,000

STEELWORKS

426 FIRMS SHARE SHIPPING SUBSIDY

Every description of Banking and Exchange business transacted. Loans granted on approved securities.

THE WING ON BANK, LTD.

Head Office: Hong Kong. 26, Des Voeux Road, Central. Authorised Capital $10,000,000 LONDON BANKERS:- Westminster Bank, Ltd. Foreign Exchange and every des-. cription of banking business transact-

The tramp shipping subsidy was Led. distributed among 428 firms in 1936, Current Accounts and Savings Ac- according to a statement issued by the counts opened. Mixed Deposits, re- Board of Trade. The total was £1,991,ceived at rates which will be quoted

on application.

015.

The greatest subsidy was paid to the Trusteeship & Executorship under- Court Line, London, which received taken. Safe Deposit Boxes for hire.

£69,503.

The majority of the subsidies rang- ed between £1,000 and £5,000, but 30 firms received over £10,000. The low- est was £2.

The foundation atone of the Kara-

Two men who were fishing in a boat. bak Iron and Steel Works the on the river Hull were driven into the greatest enterprise in Turkey's first Humber by strong tides, and were dis- five-year industrial plan has been covered by the police after spending `laid by the Prime Minister, Gen. Is-the night in the boat.

met Ineunu

"Sentries on duty at the St. Vincent Barracks at Laon, France, surprised thieves as they were about to make off with seven machine-guns.

The works, which will complete the five-year plan, will play a big part in The builders are Turkey's security, H. A. Brassert and Co. Ltd., of Lon don, as main contractors, with the par- ticipation of a group of leading engin eering firms of Great Britain.

The British steamer Oder, 965 tons, Nearly £8,000,000 is involved in the bound from Memel for Aberdeen, was contract, and 150 Britsih engineers and badly damaged in a collision with an- Sound outside 8,000 Turkish engineers and workmen other vessel in the will be employed.

Copenhagen.

PHILIP GOCKCHIN, Chief Manager.

RELIABLE PRINTING

no order 100 small

The Newspaper Enterprise Ltd. China Mail Bldg. Sa Wyndham St.

Hon. Mr. M. T. Johnson,

Deputy Chairman.

J. K. Bousfeld, Esq., A. H. Compton, Esq.,- 8. H. Dodwall. Esq., J. R. Masson, Esq.,

K. 8. Morrison, Esq.,

Hon. Mr. J. J. Paterson, T. E. Pearce, Esq.

A. L. Shields, Esq.

V. M. Grayburn, Esq., Chiot Manager.

AMOY

BANGKOK

BATAVIA

BOMBAY CALCUTTA CANTON CHEFOO COLOMBO

DAIREN

FOOCHOW

HAMBURG HANKOW HARBIN HONGKEW ILOILO ІРОН JOHORE

KOBE

KOWLOON

BRANCHES :--

KUALA LUMPUR.

LONDON LYONS MALACCA MANILA MUAR (Johore) MUKDEN NEW YORK FEIPING PENANG BANGOON SAIGON SAN FRANCISCO SHANGHAI SINGAPORE SOURABATA SUNGEI PATANI TIENTSIN

TOKYO TSINGTAO YOKOHAMA

Current Accounts opened in Local Currency and` Fixed Deposits received for one year or shorter periods in Local Currency and Sterling on terms which will be quoted on application.

ALSO up to data SAFE DEPOSIT BOXES in various sizes TO LENT.

Hong Kong, let Marob, 1907.

HONG KONG SAVINGS BANK

The Business of the above Bank. ly conducted by the HONG KONG AND SHANGHAI-BANK- ING CORFORATION. Rules may be obtained on application.

FOR THE HONG KONG, AND - SHANGHAI BANKING CORPORATION.

V. M. GRAYEUEN,

Chief Manager Hong Kong, 1st March, 1987.

THE YOKOHAMA SPECIE BANK

LIMITED

Established 1880

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

Yen.132,650,000

Head Office: YOKOHAMA

Branches and Agencies at

Alexandria

Bangkok

Batavia

Berlin

Bombay

Calcutta

Canton

Dairen (Dainy)

Fengtien (Mukden)

Hamburg

Hankow

Harbin

Hong Kong

Honolulu

Hsinking

Karachi

Kobe

London

Manila

Los Angeles

Moji

Nagasaki

Nagoya

New York Osaka

Otaru

Paris

Peiping

Rangoon

Rio de Janeiro San Francisco. Seattle

Semarang Shanghai Singapore Sourabaya

Sydney Tientsin

Tokyo Tsingtau

Yingkow

Interest allowed for Current

counte

Deposits received for fixed periods at rates to be obtained on applica- tionsi

Y. KANO, kaa Manager, Hong Kong, 10th March, 1987.

THE

SHANGHAI COMMERCIAL &

SAVINGS BANK LIMITED

(Incorporated in China)

Capital paid up

Reserves

$5,000,000.

POLLA $7,500,000. $500,000,

Capital Savings Dept.

Reserve Savings Dept. $600,000. Head Office--Shanghai

A Bank having as its mission the industrial development од China and the fostering of her commercial “relations abroad. "Hong Kong Office-

Queen's Road, Central.

Phone 81118.