1938-06-30 — Page 16

TO DAYS

DAYS

GoEMPRESS to America, Europe

THE CHINA MAIL, JUNE 30, 1938

SINGAPOREH.K. MINES: LEAD

SHARES

Quotations of 12 leading Singapore stocks received by Messrs. Ellis and Edgar from Messrs. J. M. Sassoon and Co., Singapore,

27th. June. Middle Price

Kuala Sidim Rubber Co., Ltd.

PRICES

Presiding this morning at the annual meeting of Hong Kong Mines, Ltd., Mr. C. C. Stark said:

But for the calamitous drop in the price of Lead from 537 per ton to something in the neighbourhood of £18, much better. I would remind you how- our showing would have been very ever, that in mining, where so much time bas to be given to experiment and development in the first year, a loss can generally be anticipated. If 1.57% however lead had maintained its price we would have been able to make a very handsome profit.:

Rubber Shares

Amalgamated Malay

Estate

Limited

Kempas Limited

$ 1.45 1.85

Pajam Limited

2.40 1.80

Sungei Bagan Rubber Co., Ltd.

142%

Tapah Rubber Estates Limited Tin Shares

1,80

Petaling Tin" Limited

7.00

Sungei Luas

Tin Dredging

Ltd.

Industrials

Straits Trading Co., Ltd.

26.25

Hong Shang- Empress. Kong

of

Naga-

Leave

hai

Arrive

Baki Kobe

Yoko- hama

Van-

United Engineers Ltd. (Or

dinary)

7.90

Leave

Leave

Leave

Honolulu

Leave

couver Wearne Brothers Limited Victoria Gold ·

13.90

Russia July 8 July 10 July 12 Japan. July 22 July 24 Asia

July 14

July 16

www

July 27

July 29 Aug. 4

July 25 Aug. 9

Arrive Raub Aus. Gold Mining Co.,

Ltd. The above quotations are in dollars.

5.25 Straits

Aug. 5. Aug. 7 Aug. 9

Aug. 11

Aug, 13

:

BOOKING PLANS FOR 1939

ARE OPEN

MAKE APPLICATIONS EARLY

to secure accommodation desired.

Aug. 22

Air-conditioned equipment on C.P.R. Trans-Continental Trains. Frequent Canadian Pacific Atlantic' sailings to European ports.

TO MANILA

Empress of Russia on Thursday, June 30th.

Midnight

Canadian Pacific

Union Building

SPANS THE WORLD

AGREEMENT IN PRINCIPLE IN DEBT TALKS

Telephone

20752

EXTRALITY

London, To-day. Asked about press reports of the remarks by the Japanese Official Spokesman at Shanghai regarding foreign extraterritorial rights in China, the Under Secretary for Foreign Affairs told the Commons London, To-day.. that Lord Halifax had instructed Informed quarters here declare His Majesty's Ambassador at Tokyo that the Anglo-German debts to take up the matter with negotiations have made such Japanese Government. British satisfactory progress that anWireless.. agreement "in principle" has now been reached on all most im- portant points.

The negotiations, however, will be continued since several minor. details of the extremely comprehen- sive problems have not yet been settled to mutual satisfaction.

2

"

Although the British as well as the German representatives remain reticent towards the press, it may be regarded as certain that the danger of an Anglo-German · trade war, with

theventual compulsory clearing, which

appeared to be îm minent some time ago, has now been definitely overcome. While it has not yet been decided whether a new agreement will be concluded, it may be regarded as certain that the agreement hitherto in existence will be prolonged beyond July 1, If the negotiations are not conclud- ed by that time,

FOUR POINTS

According to a reliable informa- tion agreement in principle has been

the

reached with regard to four points:

:

r

LOCAL SHARE

Following is the list of changes and enquiries in local share quotations this morning:-

SHIPPING

Union Waterboats $9 b.. DOCKS, WHARVES, GODOWNS, ETC.

H. K. and K. Wharves $125 b; H. K. Docks (Old) $19% b. ́· H. K. Docks (New) $19 b,, $191⁄4 sa

MINING

-Venz: Goldfield $3 b.” Antamoks Ps. .89 sa: Atoks Ps. .25% sa. Baguio Gold Ps. 20% sa Benguet Consol. Pa. 9.80 sa. Coco Grove. Ps. 46. sum Consolidated Mines Ps. .003 sa. San Mauricio Pa. 48 sa. Suyoë Consol. Ps. 17 sa. United Paracales Ps. 291⁄2 sa.

LANDS, HOTELS & BLDGS: H, K. and Hotels $6.40 sa. H. K. Lands $341⁄2 b., $34% 88. H. K. Lands 4% Debentures 102 Humphreys $9.30 b.

H. K. Realties $5.45 b., $511⁄2 sa.

PUBLIC UTILITIES

H. K. Tramways. $16.96 b. Peak Trams (Old) $6% b. Star Ferries $84 b. H. K. Electrics $59 b.

STORES, &C. Dairy Farms $24 sá. Watsons $6.30 b.

Since the date of Messrs. Nielson and Co.'s reports, our stock of 8,765 tons. concentrates has been sold to buyers in Europe exclusively. Earlier sales would have been made but for the fact that Nielson and Co. felt there every prospect that prices would im- was prove, while they also were negotiat- ing for sale of

one year's output on very favourable terms in Manila; un- fortunately this sale fell through at the last moment.

I would explain that payment for concentrates is made on the average price of the calendar month following the month of arrival. With the ex- ception of initial shipments of 250 tons therefore, the price we will receive, will be based on the average price for July and August, t

.་ ༥ ་

REDUCING EXPENSES Everything possible has been done to reduce expense to a minimum, and we are making another effort to secure a further reduction in freight rates, present rates handicap us a lot.

AS-

As previously advised, we are con- templating increasing the milling ma- chinery to handle a further 100 tons per day. This can be done at com- paratively little cost, as provision for this addition was made when the milf building was erected. Although the cost of labour will be alightly increased, the general overhead will not be increased b. in any way.

LOCAL DOLLAR The demand rate on the Hong Kong dollar this morning was 1/27/8

In conclusion, I would reiterate that our success or failure is entirely de- pendent on the price of Lead.

We can only say that from the number of inquiries. we have received lately, we sincerely trust that demand of "this product will shortly rise it to its form- er levels....

I am glad to say that our product has been found very acceptable by Smelters in Europe, and we have se- cured smelting charges considerably below present current rates. I now formally propose the adoption of the conded by Mr. Wong Kit Wan, the re- Report and Accounts as presented. Se- solution was carried unanimously. "Spot" silver was quoted in Messrs. David Wai Kwok Au and J. London to-day at 19-1/16-and-for-M. Wong were re-elected Directors, ward at 18-15/16,

and Messrs. T. A. Martin and Co. were elected Auditors for the ensuing year."

}

The London on. New York rate was quoted at £U.S.$4.9540 and New York on London

-U.S.$4.952.

1

SIZE OF BATTLESHIPS

London, To-day.“

at

LAWN BOWLS TEAMS FOR SATURDAY

K.D.R.C.

J. V. Ramsay, M. Ferguson, S. Gray

Asked in Commons if the Gov-and J. C. Brown (Skip). ernment had yet reached any H. G. Cooper (Skip).

T. Mason, J. Revie, J. McKelvie and agreement with the United States A. Calman, J. Kempton, T. Coleman Government on the size of battle- and F. Cullen (Skip). ships and heavy guns, the Prime stood the First Lord of the Ad- Minister replied that he under-

(1) Germany takes over the Aus-miralty would make a statement on

train loan and agrees to pay British Wireless.

the subject at a very early date.- interest.

(2) The interest rates of Young and Dawes loans will be lowered,

(3) Britain is willing that a cer tain percentage of sterling receipts from Anglo-German commercial transactions are

NEW ADVERTISEMENTS

MACA

JOCKEY

CLUB

set aside for financing Ger- held at Areia Preta, Macao, on The July Race Meeting will be many's raw material pur- SUNDAY, 3rd July, 1968 commenc- chases in the British Eming at 8 p.m. -pire,

(4) Endeavours will be made to 2.30 p.m. approximately.

The Firat Bell will be rung at facilitate a settlement of

T.D.R.C.

F. Hellon, T. Grimes, W. Melrose and T. Y. Stainton (Skip).

J. Wald, H. O. Gillies, J. Polson and R. M. Keown (Skip).

R. Ulain, S. Pollock, W. Seath and D. Munro (Skip);

ŔH.K.Y.C.

P. S. Cassidy, A. S. Mitchell, Nissim and G. S. Archbutt (Skip)..

W. A. Cornell, W. J. Hansen, P. J. Hamilton, and A. W. Brown (Skip).

D. Drummond, H. E., Stone, R. H Wild, A. Murdoch (Skip).

C.S.C.

A. Warr, L, A. Collyer, J.. W. Dea- kin and J. Hollidge:(Skip),

R. R. Wood, R. R. Davies, E.

Gowan and G. H. Sherriff (Skip). Simmonds and S. Randle (Skip);

J.Gellatly, W. J. Burling JF. Me-

W

B. O. Bostock, P. D. Crawley, Cook and W. H. Cullip (Skip)

E., Kirmon, F. S. Austin, A. lan and W. R. Hillyer?

**(Skip),0)23)

The Club's Offices at Gloucester H. F. Harper, J, R. Carr, J. REDMON

Germany's increased financial Building, 2nd Floor, will remain liabilities by granting con- open on Friday, 1st July, and up to cession to German- expor 1 p.m. on Tuesday, 2nd ters in certain British Co- lonies and possibly also Do- minio

-Oceán.

order

CHENG

gelly and S. Eccleshall (Skip));-

K.F.C

V. Petherick G. Champèlavier, Eastman and 1. Fergusson (Skip).

K. Cooper, J. Smalley, V. Chittender. and Gibson (Skip); T FT White, R. Hall, C. Turney and Field (Bkip).