1929-09-18 — Page 10

•

10

Money and Markets

CHILEAN PROGRESS. banks have increased to over

REMARKABLE DEVELOP.

MENT.

£7,500,000 while those in savings banks have been augmented from £1,000,000 in 1927 to £3,023,000 in 1009. The value of real estate in Chile has increased to just over £350,000,000.

THE HONG KONG DAILY PRESS, WEDNESDAY, SEPTEMBER 18, 1929.

To-day (September 18) is the This year the Chilean Govern- 10th anniversary of the indepen-ment is spending £3,023,000 on the dence of the Chilean Republic, and carrying out of a public works an appropriate occasion to review programme, the money being ch. tained by a series of loans to be the present financial and industrial

raised in London, New York and condition of the country.

in Chile. The internal loan for £425,000 has just been floated; and was many times over-subscribed. Of the £3,25,000 to be disbursed, £1,730,000 will be expended on sun- dry projects, including road mak- in £1,632,000 on port works, railways and £450,000 on irriga £1,173,000 on buildings. £825,000 on

Mainly owing to the energetic action of the Government of Pre- sident Ibanez, the financial and economic position of Chile shows n grent improvement, and there is every indication that the progress made in 1028 will this year not only

be maintained, but be considerably Augmented as the reforms intro- duced by the Government make their influence fully felt...

The improvement effected in the financial position alone is remark-

able.

Whereas for several years previously Government expendi- tare exceeded income, sometimes by very considerable amounts, inst year there was a favourable balance of about £1,000,000 nearly double the amount anticipated by the Finance Minister, when he framed his Budget estimates for 1039. This year it is calculated the revenue. will be 27,575,000 and expendi ture £28.775,000, the Minister of Finnace anticipating a surplus of £1,300,000.

Prosperity Reviewed.

tion works.

A READER'S APPRECIA-

TION.

The following letter was Te

ceived last week from a grate-

ful reader:

"Dear Kufun-I beg to inform you that I have found your advice extremely valuable and helpful, and consequently I am very thankful to you:"

Key Industries."

The improved financial position has had an important influence on the economic situation in Chile. That, together with the reforms imtiated by the Government and revival of the nitrate industry.

Of the key industries of Chile. has brought about the dawn of an era of prosperity such as the coun. mining made substantial, progress try has not known for many years during last year, especially cap- past. A general feeling of confi per. The high price of this metal, dence is felt in commercial and in-intely prevailing, led to a great dustrial circles; trade generally has improved and there is every indication that it will continue to make headway.

That there is ground for the as- sumption that the progress made last year will continue is shown by the fact that Customs returns for the first month, of 1929 showed 're- cripts totalling £1,000,000,000, as compared with £1,205,000 for the corresponding period of 1928. Fm- port duties very considerably in creased to $725,016, as compared with £474,000 in January of last year. Deposits in commercial

stimulus of production and Chile's part in supplying the world with copper established a record, the total production in

1028 being

270,000 tons, 30 per cent, more than had ever been produced previously. The conl industry is in a less fa- yourable position than any other business in Chile in spite of the facts that recently a heavy tax was imposed on imported fuel Produc tion declined last year and is still on the downward grade.

Agriculture, the lending indus- try of the country, is making a very, substantial advance. During

the season" 1028-29 the area' devoted to wheat was augmented by 99.27 per cent. The total area of land under coreal cultivation in Chile has increased during the past twelve months by about 40 per cent. Under Government, auspices an agricultural bank began to function few months ago and has already made advances to agricul- The turists totalling £1,400,000. bank lends money up to 60 per cent. of the value of rural property for a term not exceeding five years, the loans to be used for farm im- provement, the purchase of live stock or of farm equipment.

CANTON SILK REVIVAL:

EXPORT FIGURES FOR 19 MONTHS.

„[FROM OUR OWY CORRESPONDENT. ]

try and these efforts of the govern- ment have gradually borne fruit as shown by the following data of the export of raw silk from Kwang- tung during 1928 and the Arst 8 months of the present year:

The number of bales exported abroad:- Montä. January

CANTON, September 17. February After being for saveral years on | March the decline the silk industry of April

May Kwangtung is again thriving. The June The Government is also paying industry appears to be on its way July special attention to the irrigation of farms lands, and have on hand towards regaining its former pre- schemes involving a total outlay of stige and its world markets-thanks £4,000,000. The Ministry of Agri-to the Kwangtung Bureau for the culture is also establishing eight

agricultural experimental stations Improvement of Silk and the en. at a total cost of £50,000. In Sou-couragement and the help of the thern Chile this season farmers Government. Through the Bureau, commenced the extensive cultiva- tion of hemp, the seed being pro- vided by the Government, which is also giving encouragement to the growing of flax and sugar beet on A considerable scale.

August

September October....

November

December

Total

1928. 1029. 1,309

5,004 9,10

4,707

4,849

1,912 4.330

3,538

7,832

0,009 7,540

3,069 3,395

6,534

0,106

8,033

4.50%

2,735

4,108

50.020

Not yet available." which is, in Lingaan University,

Recent buyers have largely been many improvements have been in- troduced. The silk worm rearers Americans. The New York manu- have been taught to use only disease facturers alone bought 4,852 balca The unemployment difficulty free eggs, such as those supplied by of raw silk from Canton during brought about by the decline of the the Government Bureau. Euge last May. The next biggest buyer Hitrate industry about a couple of quantities of pamphlets containing is France. The amount of raw silk years ago has now not only been

got over, owing to the augmented directions for raising raw silk of purchased by England is insignifi- cant as compared with the United activity of nearly all branches of the best quality have been distribut- industry, but there is an increasinged to people engaged in the indus- | States and France.

shortage of labour, and the situa

tion promises to become acute dur- ing this year as the Government's

public works programme is de DAILY SHARE QUOTATIONS.

veloped.. It may be mentioned that many of the men have been absorbed in other industries, and are being replaced by labourers from Peru.

AMERICAN CAN CO.

TO SPEND $1,000,000 ON FACTORY.

["D.P." Special Service.]

HONG KONG STOCK EXCHANGE.

SHAREBROKERS'

ASSOCIATION.

Buyer Sellers Sales train

TUESDAY,

SEPT. 17.

Bust Seller Sale Koininal

Han

$1,230

£201

$1,235

£129

J

06

ดงม

Simcoc. Ont.-Construction is expected to start within 30 days on a new factory to be erected here for the American Can Company- It is reported that it will cost 81,000,000 and employ 200 people. T180 The initial step was taken when 2340 the town council approved agreement between the Board of 2310 Education and the company for $750 the purchase by the latter of the Old Central school property,

30

Plans for the new factory follow the recent acquisition by American 825 Can of the Canadian Canners, can plant at Simcoe..

HK. Banks

ANASAY

ARN

Do. (London) Chartered Banks...

Mercante Bls. “A',

Do.

$1,236

£10

£34

£16

200

Bank of East Asia...

Insurances

$600

Canton IDA.

$630

Underwritera

$1.90

+++

North Chins

T160

Union Ins....

$338

'850

Yangtaze Ins......

260

China Fires

8310

www

B.K. Fires

$730

Shipping

$271 Douglases

825

$46

Steamboats

S24

Indoa (pret)

$50

$70

Do. (del)

890

100/. Shell Transporta

100/-

$22

Water-boat

8211

Mining

*3.35

Benquets.......

690

Kailans

63/6

(2**

T.14

Langkats (comb.) ........

T.9 Do. (single)

T1.40 Explorations........

T4

Shanghai Loans

304

Raubs......

11/-

Troneb Mines

18/-

Docks, Wharves,

Godowns, etc.

$130

H.K. & K. Wharfe... 8129

...

$4.45 $460

Providents

$455

$321

HK Docks

$32

T

Shanghai Docks

T150

T7,90

New Engineerings

T8.10

1.181 Hongkewa

8213/221*

T.102

T.70

T.13

+++

*Sales

S'bai.

Cotton Mill

Ewce............ $22

Shai Ctons (old). T.101)

Do. (new)... T.7% Zoong Sings

Lands, Hotels and Buildings

H.K. & S. Hotels

322

T.13

::::

$0.10

261

T.160

471 $14.10

$8

308

4

President Liner

SAILINGS

ANNOUNCING

SPECIAL REDUCED SUMMER ROUND TRIP FARES

BETWEEN

HONG KONG, SHANGHAI, KOBE, AND YOKOHAMA

HONG KONG to SHANGHAI and RETURN

14

PJ

KOBE YOKOHAMA

ד

H.K.$120,00 ....H.K.$210.00 ...A'K.$235.00

Tickets are being sold at the above face with return limit of September 50 allowing for stop-over at intermediate port or ports within limit of tickets.

For Full Information apply at Office of

DOLLAR STEAMSHIP LINE

AND

AMERICAN MAIL LINE

No. 14, PEDDER STREET (opposite Hongkong Hotel).

BARBER

MALEDISIT

LAE

FALAMA

EXPRESS

SERICE

BARBER WILHELMSEY

LINE.

THE PREMIER ALL WATER ROUTE TO NEW YORK and other U.S. Atlantic Ports via Pacamp.

All vessela call at SAN FRANCISCO and LOS ANGELES

en route.

Passengers desiring to travel by this interesting route will find the accommodation provided well op to" their expectations, and at a cost most reasonable.

42 Days To New York

For Passenger and Freight information please apply:-

DODWELL & CO., LTD.

Queen's Buildings.

Agents,

Telephone C. 1080.

$9.20

H.K. Linda

349

Shanghai Lands

Humphreys 814.20

་་་

H.K. Healtyster

Chinese Estates

Public Utilities

Tramways... 318.10]

Peak Trams (ald)... 31)

Do. (new)

Star Ferries

$004

8121

C. Lights (old)313.10 Do. (new) $12.95 H.K. Electrics, ... $611 Macao do.

Sandakan Lights ........

Telephones.... China Buses... Tractions

Do. (pref.).....

Industrials

#7

0/-

Canton Ice ....... $21

Cements (comb.)... $0.36 Do. (old)... $7.75 Do., (new)... 1.00 Ropes

China Sugars....

Malabon Sugars

United Asbestos

Miscellaneous

$19.90 Dairy Farms...

$0.80 Der A. Wings.....

Amusements person Constructions

Mackintosha........ Tobacco...

Sinceres (old)........ 310

(new)

Wo. Powells

B. Ind. G. Bonds...

HK. Govt. Loan....]

Caldbeck

(ord.)

Macgregor (prof.)

: : ፮: : ¡

820.10

180,50

$261

81+

603

812

KA M

KONINKLYKE PAKETVAART

MAATSCHAPPY.

(ROYAL PÁCKÉT Navigation Co. of Batavia)

BE MOTOR VESSEL

THE

"CREMER

99

Due to sail to SINGAPORE, BELAWAN.DELI and

PENANG, on 26th September, at Noon.

Offere excellent Saloon accommodation.

All lower berths.”

Doctor carried,

English cuisine.

Wireless telegraph.

1st Class Fare to Bingapore-$125.

•

In connection with the Royal Packet Nav. Co.'s (KPM) Bervice to a destinations in the Netherlands East Indies and Australia.

Agente

JAVA-CHINA-JAPAN-LIJN.

Tolephone 1574. XORK BUILDING 'ÚKazan Boad.

That's why the New

Olympian

CHICAGO MILWAUKEE

ST. PAUL

PACIFIC

Dally to *Twin Cities, Milwaukee, Chicago Vester now-an mitire bʊal... num day saved over the shorte. set route betweez: Bəxtile and

Chicago. Leave Beattle 6:15p.m

818.10 819.35

-811:80

86.05

roller bearings

$13

812.80

$127

$21

T.15

11/

20/-

121

89.40

$7.70

Bi

$7.10

€0.05

827

16

rides so smoothly!

Sweeping smoothly along the rails with gentle stops and almost effortless starts -noiteless, swift and safe—the Milwaukee Road, with The Olympian, earns the name. The Road of the Gliding Cars"the only transcontinental train in America equipped with Roller Bearings.

611 HOURS SEATTLE TO CHICAGO Within these fring trains are comforts beyond compare. The 656 miles of elec trified toadway allow clean, dinderless, soolas air, the coil spring mattresses afford restful sleep and the radio-phonograph provides constant and delightful touch with the stationary world. The traveles from the West Coast knowe "The Olympian for the dsest, cleanest, smoothest erala east.

For certate information call on te wete to Aralian Bronst

Te Bar, The Cook & Son, your descete steamship ofice, or 1. CARBON

Glen'i Agent Pat, Dept. Ex.ttle

A. P. CHAPMAN, JE, -

flex't Arpat

Victoria. B. E

1. F. RANDALL

Dist. Fam. Agent

Can Francisco

5.3, OALKINS

8254

14

$1.40

J. J. DALL

811

Lane Crawfords

Agri. Cin, Pans, AgEÉ

W. B. MION

$18

Nanyang

Gen'! Pim: Agust

812

Geo's Agen

PARCOTTE, D. CA

$11.30

8% prem

Cable 146: "MAwaxkoo".

Chicago

The MILWAUKEE ROAD

488-10%

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