1935-04-17 — Page 13

LLOYD TRIESTINO

FLOTTE RIUNITE LLOYD TRIESTINO-MAGĦTIMA ITALIANA-SITMAR

EXPRESS PASSENGER SERVICE FAR-EAST-INDIA-ITALY SAILINGS 1935.

For Singapore, Colombo, Bombay, Suez, Port-Sald, Briadial Venino, (London by rail) & Triesta.

HONG KONG DAILY PRESS, WEDNESDAY, APRIL 17, 1935.

THE EXCHANGE MARKET

MESSRS. ROZA BROS.

LONDON EXCHANGE RATES

Amsterdam The price for Ready Silver Athens..... dropped 1/18 yesterday but the Belgrade Forward rate was unchanged, the Berlin ...... quotations being 314 and 31 re- Bombay spectively. Sliver advices report- Brussaļa ed China as having bought. India | Bucharestull sold Speculators operated bath. Buenos Airsa ways. There was no special fea- Copenhagen ture. In America the" rate was Geneva lower at 881 'for Spot,

Helsingfors

The New York/London cross-Hongkong.

(BRITISH WIRELESS SERVION: A

Sterling Parity.

Apr. 11

1210 Florina

7.17

Apr 13 7.194

378 Drachmae *********... 278,316 Dinars 20.49 Marki

507

212

213

12.03

12.02

18.. 6d. per Rupes

For Shanghai

...... 36. Bolgus - 201 ****** 813,568 Lai

28.5/16

4775

480

47.38d. per Pesc

13 9.0.

18.339 Krone:

5. "CONTE ROSSA”

1.5. "CONTE VERDE” 35. "GANGE".

4th May 1st June

4th July

1.8." CONTE ROSSO"

1st Aug. A. "CONTE VERDE"... 1st Sept.

3.5." CONTE ROSSO"..,19th May 6.4. “CONTE VERDE”..... 9th June

"GANGE"

... 19th July 8.5, "CONTE ROSSO". 9th Ang. 8.%. "CONTE VERDE"

9th Sept.

25.22) Franca

14.97

14.98

199.23. Marka

2/1 5/18

rate was quoted at 4.85 and in London/New York at.4.851.

Lisbon

Madrid

M

33

Milan

110 Esendes 25.22 Pelotas ................. 02.48 Lira

357 581

35 16/32

501

Montevideo Montres! New York

30.88d: per Peso

4.587 Dollars

4.861

**4.87*

4.967 Dollars

4.84]

4.85↓

11 Onlo

Parix

18.139 Kroger ...... 1.21 Francs 164.25 Krosen 20.938. per Gold Milreis

401 8.0.

73 27/84

73

1/87

18.119 Krmor 34.58 Schillings

1/7 7/16

1/2 3/32

311 31

24% 3% 106 11/16

For Full Particulars and Reservations of Accommodation Apply to:-

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BERLIN BOURSE

H. K. STOCK EXCHANGE

[Special to the "Hong Kong Daily Press" (Copyright.)]

Berlin, Apr. 15,

YESTERDAY'S OFFICIAL QUOTATIONS

There was a steady "demand for Hotels. at $4.40, China Lights at $9.35, Trams at $15. Lands at $39 and Telephones (old) at $22. Banks

were being offered mostly Ar- | 31170,

Buyers showed marked reserve so far as the sharemarket is con- cerned since the opening of the Geneva negotiations, this again introducing an element of uncer- tainty into the general situation. The turnover therefore was small but the prices were mer because confidence in the out- look was unshaken. The fixed in- terest securities market was char- acterised by the large transactions and the corresponding smart rise in prices in Mexican bonds.. Ger- man investments were, however, quieter.

Call Money 3 per cent., Young Loan 1/8 higher to 102 3/8, Reich- sbank declined 4. to 158, Dyetrusts rose to 1484, Salzdetfurth, Po- tash Armer to 1881, German Steel Trusts improved to 804, 1 German Mineral Oils better to 107, Blemenshalske 1/8. higher to 150 3/8, Bemberg Rayon unchang- ed at 115 1/8- Transocean Kuo Min.

REICHSMARK QUOTA TIONS

(Special to the "Hong Kong Dally

[(Copyright).] *

Berlin, April 15. Reichsmark quotations (without guarantee)

Buyers

Hotels, $4.40. Hongkong Lands, $39. China Lights $9.30. Electrics, $84

Telephones, (old), $22.

Gort. 4% Loan, 64% Prem. Govt. 34% Loan, 2% Prem.

Sellers Hongkong Banks," $1170. New Engineerings. 8.$5, Hotels, $445. Star Ferries, $39. China Lights, 39.40. Sandakan Lights, $7. Lane, Crawfords, $3. Wallace Harpers, $6.

Sales

Union Insurances, $392). Wharves (rights), $107. Hongkong Trams, $15/15.10 Electrics, $64. ··· Telephones (old), $22."

DAWES LOAN INTEREST PAYMENT

at

[Special to the "Hong Kour Dally Presa" (Copyright.)]

Berlin, Apr. 18.

Market.

The market opened with indi- cations of firmness but later eas ed of slightly.

There were

Sterlin

sellers after the Prague" opening at 2/2 7/16. buyers bid-Rio de Janeiro ding 2/3 9/16 resulting in busi-

ness at 2/2 9/16 for cash follow Shanghai

Silver (spot).

ed by transactions at 2/2 9/16 for Stockholm May, June and July and 2/2} for Vienus........ April and subsequently for May. | Yokohams.............. 24.58d. per Yen The market closed at lunch time with sellers at 2/2 7/16 April, 2/21 | Silver (forward) sccord half May/June, buyers War Loan ven in, ki at 2/2 April and probably May and 2/2 9/15 June and probably July.

4

ві

U. S. Dollars Business was done during the course of the morning at 548 July and 53% for May.. The market closed at lunch time with sellers at 531 April, 53 7/16 May and 53 9/16 June, buyers at 53 for near 53 9/16 May and 53 11/16 June.

Shanghai Dollars,

"

Sellers were quoted at 1324 for cash, buyers at 183 for rear de- Hvery.

Shanghai Market.

Early advices indicated sellers at 1/74 for Dear. Subsequently the market rose to 1/8 for cash but, receded later to 1/7 13/16 for cash, buyers at 1/7.18/18 for Spot.. U. B. Dollars opened with sellers at 39 15/16 for near rising sub- sequently to 40 7/16 for cash. To- wards 1 pm the market receded to sellers at 40 1/18 for near, buy- ers at 40 3/168 for Spot. Steady.

IN THE AFTERNOON The market "was weak in the afternoon and a fair business was done in the Inter-Bank, market.

Sterling

In Sterling business was done at 2/2 7/16 for July, August, 2/21 for May, second Half May and June. Towards the close offers at 2/2 5/16 were accepted for near, May and Jure, falshing with probable sellers at 2/21 April/June, buyers at 2/2 5/16 for Apri/May and probably June

U.S. Dollars

29 11/16

29 13/16

Closing Quotations

April 18 195

UN LONDON:--

Telegraphic Tradster... Bank Bills, on demand Bank Billa, moợtha"

sight

ON SINGAPORE:--

ON NEW YORK:-

31% 107

Bank Bills, on demand sal

Credita, ́days' sight.. 548

ON BATAVIA:—

On demand

73

Bank Bills, on demand 792;

Credita, 4 months", sight 8334

2/2

ON PARTE

Credits, fon moaiba'

sight

2/3

ON SHANGHAI

UN SAIGON:-

On Demand sequera alı

130

On demand

ON MANILA:-

On demand

On demand gene. 108 ON BAROKOK:-

On demand

...........184)

FDA

Telegraphic Transier... Bank, on demand

2/3#

143

ON JAPAN:-

ON INDIA:-

Op demand *****

SOVEREIGNS, Bank Buying

Rats BAR-SILTEX, por

FOREIGN IMPORTS OF

HOSIERY

Effect On Midlands Industry

13

PRESIDENT LINER TRAVEL SERVICE

Costs You Nothing

Dollar Steamship Lines and American Mail Line offices and agents all over the world are there to serve you in whatever way you may require. When you make your next híp lo Buppe or America, or up or down the Ching Coast, plan to use this friendly, complete service. It is absolutely freel

To SAN FRANCISCO 18 Days To VICTORIA, SKATTLE-17. Days via Shanghai, Fobe, vla Shanghai. Kobe Yokohama, Honolulu

Fortnightly callings

Pres. Coolidge...Apr. 20, 4 p.m. Pres. Cleveland.May 7, M'night Fres. Hooverlay 18, Noon. Fren. Taft .... June 4, M'night Pris. Coolidge...June 18, Noon

EUROPE, NEW YORK

Enquire for round-trip tinkets to Europe. in connection with Lloyd Triostima, Via Mandia, Singapore, Fanang, Colombo Bombay, Suez Canal Alexandria, Naples, Geton, Maruailles.

Pres. Harrison'.. Apr. 27, 8 am. Free Hayes ....May 11, Ba Pres. Johnson...May 25, 3. Pres. Monroe Jure 8, 8am. Proe. Van Buren.June 27, 8 a.m.

Yokohama

Fortnightly aniling Pres. Jackson- Apr 17, 1 s.m. Pre McKinley May 11, I'am Frea. Grant. May 15, 1am. Pres. Jefferson June 7, 'might Pres. Jackson.June 21, M'night:

MANILA

THE MOST FREQUENT SERVICE

Next Sailinga Pres: Ischaun. pr. 10, 6 pm. Pren Harrison Apr. 27, 8 a m Pres. Cleveland Afr. 30, 8 p.m. Fres McKinley May 4, 6 pm. Pres. Hoover. May 9, 9 r.m.

DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE

PADDER. BOZZIDING -- HONG KONG. CANTON KRÄNGH, NHÀKIE MOJD.

MILNER'S KINDER-

When

GARTEN!!

half that which they would cost the British manufacturer and which he could not achieve even if he got his materials for nothing. It is obvious that the present duty (Special Abr Mall Service)" Gf 20 per cent. is useless to stem

London, March 30. 7 the torrent of such low-priced

Mr. Buchan goes to goods Dr. Burgin said that it was

Canada as Governor-General, he now for the industry to choose will have attained a position of whether it would continue the dis higher personal eminence than cussions with the Importers Or BD-ary of the other members who ply to the Import Duties Advisory with him formed Lord Milner's Committee for Increased protec- -famous "Endergraten" in South tion.

Africa

IMPORTS FROM FRANCE

They were all Oxford men, and the infant class" of young Em- Presumably the federation will pire builders commanded at lesat now adopt the latter course, al three All Souls' fellowships. Unemployment in the hosiery slon arose pending the outcome of though this would still leave un- Mr. Buchan, however, though he

the futile industry has increased so much

Lancashire-Japanese | affected the equally serious prob-carried of all other possible during the past few weeks that the conversations, and that the federalem of the imports of rayon hose nohours at Oxford, never attained position is causing serious concerntion was shortly afterwards ap from Germany. This may be dealt this most coveted distinction or to manufacturers and employees, proached by the Association of with by action to aborgate or all Business was done early in the It is estimated that between 30 Japanese Hosiery Importers in this amend the Anglo-French Treaty. afternoon at 53 5/16 for near and

When he entered- Parliament in and 40 per cent of the organized country with an Invitation to It is pointed out that the amount 1927 his former fellow-student in towards the close 53 1/16" was workers are totally idle, and that negotiate a quota on imports from of hosiery imported from France the kindergarten, Mr. Amery, had arranged for April and 531 for lot more than 30 per cent. are Japan. It would have been im- is almost negligible and that the already long been a Cabinet Minis June. The market closed with fully employed.

politics,” remarked Mr. Allard, "to elimination of these goods from | terz sellers at 53 April/May and: 53

the terms of the agreement, while 1/18 Jure, buyers at 531. April/

have ignored this invitation.".

making no difference to France. May and 53 3/18 for June.

Shanghai Dollars

Three principal causes are assigned the extremely mild win-

ter, which has reduced the sale of Sellers were quoted at 183 for low level; the enormous flood of heavy underwear to an unusually

near delivery:

P

H.K. SHAREBROKERS ASSOCIATION

BUYERS

Unions, 3385. Douglases, $38. Waterboats, $.11. Baguio Gold, 26 cts. Hotels, 435. Humphreys, $9.10. Shanghai Cottons, $673. Wharves (Rights), $11. H.K. Docks, $TŁ. Peak Trams (ald), $84. Lights, $9.30. Electrics, $64. Entertainments, $5, Constructions (old), $1.40. Constructions (new), 40 cts. Nanyangs, $4.20... Gold $ Bonds, 81%.. Govt. Loan 4%, 6% Goyt, Loan" 3%, 2% Vibro Pillag, 34.10.

SELLERS

Unions, $390.

THE RUBBER MARKET

Singapore Prices

HL B. JOSEPH & CO. Mesars. H. B. Joseph and Co., te

The 50 per cent. Interest payceived the following Straits Cur ment on the Dawes loan now due rency quotations from Singapore will be paid in foreign curren--for Raw Rubber.

Imported hosiery, the bulk of which comes from Japan and Germany; and the fall in exports It may be asked; "Why does not the Hosiery Manufacturers Fed- aration present -a case for more protection to the Import Duties Advisory Committee?" This course has not been overlooked, and so far as silk and artificiaj slik, goods

are concerned it has been taken.

The reason why a general case has not been presented may be briefly explained.

Imports of hosiery fall into two main categories-cotton and arti- ficial silk, known as rayon / Japaa supplies most of the former (though Germany also sends con- siderable quantities), while Ger many baa a virtual monopoly of

|

That view is strengthened by re- ference to a speech made at a host tingham in December by Six Ed ery manufacturers dinner at Not

is

Politics and Letters

C

would deprive Germany of the Many shrewd judges then prò- avenue by which, through the phesied that he would soon shorten was able last year to pour about political ladder. Most Favoured Nation Clause, she the gap between them on the

They had forgotten, however, 100,000 worth of rayon goods into this country."

that literature disputed with politics for Mr. Buchan's time and Dr. Burgin stated in the House Interest. A

ward Crowe; Comptroller-General to the Department of Overseas Trade, in the course of which he advised the federation to come to a friendly agreement with Japan of Commons last week that 3,500,- Though his personal experience for a quota. Conferences between 000 dozens of hostery and under of North America has been con the representatives of the federa- wear were imported last year, and fined to occasional visits, his tion and the importers Associa- Mr. Hudson said that on January labours is an author have brought tion have since taken place, but 28 there were over 20,000 wholly him into contact with the the want of a satisfactory issue so unemployed. and temporarily problems

Canadiant far need cause no surprise when stopped in the industry, or near Governor-Generalship. inte

it is stated that the buporters ac-ly twice the number as on the He has written a life of Latch tually suggested as the basis for same date in 1934. The trade, Minto, who held that position from the quote the average for the union returns for one of the 1898 to 1904 three years 1931, 1932, and 1933, largest areas gave an unemploy- which would have meant not far short of an annual importation of 1,750,000 dozen articles from Japan. And at the moment when this large figure was put forward there Were 13,600 British hostery workers

time, largely as the result of the importation of Japanese

exraan goods. The position to

the latter. Her shipments of art. Idle and thousands more on part" employed than any industry in A House of Commons questicr

ment figure of 40 per cent... It is clear that such a state of things cannot be prolonged indefinitely| FROM THE WRONG SIDE without serious and lasting, con- sequences to this important indus-,

4Special Air Ma Servies) try, which used to have fewer, un-

London, Mar. 30. Great Britain.

was answered yesterday from the has just suffered a severe setback last time this happened was

The export side of the Industry Opposition side of the House. The day is much worse.

by the imposition of a quota on bellere, in the 1818 Parliament. Between 1924 and 1933 the sale artificial shik hose entering the

Questions to Ministers are al

silk hose to this country last year reached nearly 25,000,000 pairs, alued at £660,000. In two years

the figure has been doubled. Ac- tion by means of a tarifs on arti- ficial silk goods is stated to be of Japanese hosiery articles in this Irish Free State, which was ways answered from the precluded by the operation of the country increased from 38111 Britain's best customer for this ment Front Birch - Angio-French trade agreement, dozens to 1,620.032 dozens, or more type of knitwear shipments to a question is put down which does not expire until April than fourfold Now that satura Bouthern Ireland during January P. who and can then be terminated on tion point seems to be near the were barely one-Arth three months notice. Having the Japanese Importers Association the corresponding

those of speaks” for benent of the Most Favoured deatres to stabilize imports on manufacturers are no Nation Clause, Germany is regard. what is almost a peak Azure what will be the erect ed as exempt from any increase of suggestion which is scarcely likely German-Irish British duties on silk and regon as to commend itself to the British long as the agreement with France manufacturer who has at his dis is" in force.

posal all the resources of machin ery and skilled labour to supply the market.

JAPAN AND A QUOTA

Mr. M. R. Allard, the secretary

For the British manufacturer to of the Federation, pointed out the attempt to compete other day that the presentation of Japanese producti the general case was prevented by ly impossible, the Chancellor's request to the produced Import Duties Advisory Committee mantary to investigate, on his beha Selling price 1/8 cent higher on tricidance of the silk

all position

rik duties, the

New York

40.21

Parts

..610

Amsterdam

59 €2

London

12:06:

Faris Sterling

..73.40

5.125

Transocean Kuo Min.

cles and the remainder tá Reichs- marks, states a semi-oficial an=" nouncement on Tuesday night. This arrangement had already been applied previously, Transocean Kuo Ning

Spot

July/Sept

Oct:/Dec.

Market Steady

191.up

213 up

221 up 1

being sol

ter: surpena dožer

announced a few days ago wher the Irish Free State undertakes to buy German, ma to the value of. of the cattle and that Ge

Boners or the

Buch pozesmen

"Bupporters and ind zide of

buy