1935-07-02 — Page 13

HAMBURG-AMERIKA LINIE -

Far Eastern Mail Passenger and Freight Service

Through hookings to America via Europe and Europe via America, Bookings around the world. - Through bookings to London.

OUTWARD SAILINGS

m.y. "KULMERLAND"

ma,r. "RHEIN",

m.r." RHUR

4th July

for Shanghai, Taku, Dairen, Kobe, Osaka, Yokohama, Nagoyai for Shanghai, Kobe, Osaka, Yokohama, Tako, Dairen,

.... 20th July Tsingtan...

for Shanghai, Kobe, Osaka,

Y'hamia, Taku, Dairen.... 30th July

HOMEWARD SAILINGS

BURGENLAND"

£.

th

for Gezos, Miller, Rotterdam,

'harg

.......4th July

*m.v. "LEVERKUSEN"

+ Passenger Vessel

For Gencs, R'dam, H'burg 11th July * Limited Passenger Accommodation.

For further particulars sad passage fares, etc, apply to:- HAMBURG AMERIKA LINIE

JEBSEN & CO., AGENTS,

13, Fedder Street, Tel. 28363.

CANTON · AGENTS :

CARLOWITZ & CO., Shakes Readi.

BAL JAVA

On Bome leave why not visit BALI & JAVA—

the Isles of Romance and Beauty... Through fares to Surope by steamer all the way or by steamer and Aeroplane combined. Special reduced round trip fares. Through

fares to Australia and South Africa.

KONG

HONG KONG DAILY PRESS, TUESDAY, JULY 2, 1935.

SPECULATORS

Unload Silver In London

(Special Air Mall Service)

London, June 14. As a result of the ban on silver exports from Hong Kong, as from June 15, there has been a rush on the part of Chinese holders of the metal to unload on the London market before the ban becomes efective. That accounts for a sharp reaction in the metal fust when it was beginning to recover adverse from the

effects of rumours of a change in America's silver purchasing policy. The Trimate effect of the ban in ex- ports from China should be to make sliver still scarcer.

i

LONDON EXCHANGE RATES

Amäterdam Athens **** Belgrade Berlin ..... Bombay Brussels... Bucharest Buenos Aires Copenhagen. Geneva Helsingfors Hongkong Lishon Madrid Milan Montevideo Montreal.. New York Dalo

Paris Prague

Rio de Janire

Sterling Pariky

514 S

(ÜRITION Winizma. SHAVION A

June, 27

1

7.241

Juno, 29. 7.23+

514

12.21

29.20

19.30 Florine 373 Drachm.se 270,316 Dinars

$0.43 Marks 12.22)

is d. per Rupee

36 Belga 29,21 613,588 'Lei

13

4.941 4.94 5/16

74 35/84

4.944 4947

74 33/64

PRESIDENT Liners

DOLLAR STEAMSHIP LINES AMERICAN HAIL LINE

FIRST CLASS SPECIAL SUMMER!

ROUND TRIP FARES

HONG KONG TOTM

KOBE and RETURN

-

47.58d. par "Penc

18.150 голог 36.29 FrancO

15.07

193.23 Marke

15.07 2261

2/21

110 Escudos 96.99) Posetas

99.48 Lir

35 31/32 591

59.19/32

60.88d. per Peso 4.967 Dollsza 4.967 Dollars 18.150 Kroner 194.71 France 164.95 Kroben.. 28.09d. per Gold

Milreis

18.159 Kronor 34.56 Schillings 24.58d, per Yen

1/71

1/7 5/16d.

via Shanghai

31. 5/18

1% 31% 1081

314 311

·Silver (spot) Silver (orward).... War Loan

It is not generally believed that any change in the silver policy of the U.S.A. will be necessitated by | Shanghai the NRA, ruling, but "in some | Stockholm quarters it is thought that some| Visons ........ modification may be made in view.

Yokohams of the serious inconvenience caused in China by the rise in alver. Now that Hong Kong has come into line with the rest of China, one of the chief sources of supply will be practically closed and it is difficult to

where America is to get sufficient quanti- ties of the metal to bring her silver holding up to the required ratio.

sée

“SPECULATIVE MARKET

Op. to the present the USA Treasury has purchased 421,497,000 oz. of silver under the Purchase Act, or 265,000,000 oz. more" than the total world production during the ten months period that the Act has been in operation.

The sliver interests in the USA. are pressing for an official denial, of the rumours of a contemplated change and are also agitating for the fixing of the price at 1.29 #14. That would be dollars per equivalent to about 5a, per oz on the London market.

While such possibilities exist wide fluctuations are likely to con- tinue to characterise the silver market. Production Is being stimulated and stocks of silver,

RALIgely in excess of world require-

TO BATAVIA DIRECT 8.8. "TJISONDARI” 2nd July, 11 a.. TO MANILA, MAKASSAR.

& SOERABAIA

TJINEGARA " 9th July, 10a.m.

S.S.

TO AMOY & SHANGHAI,

May to September Special Reduced Summer Round-Trip Fare Hongkong/Batavia, Hongkong.

EL.K.$260.

#

For further information apply: Thos. Cook &"Sou, Ltd. American Express Co., Inc. American Lloyd, “

Holland China Trading Co., Canto JAVA-CHINA-JAPAN LINE. York Building.

Tel. 29015

K.C.J.

ments. are accumulating -in America. The market is therefore a very speculative one, depending as it does upon one main factor, which sooner or later might dis- appear.

U.S. SILVER POLICY

Closing Quotations

ON NEW YORK ! ----

Bank Bills, on demand 541 Credits, o days' night 55ğ

ON BATAVIA:

Juar 20. 1935...

"y Lornow:-

Telegraphic Transfer... Bank Bills, on demand' Bank Bills, mouths'

sight

23

On demand

781

2,23

ON PAMIS:-

Credita, four months'

sight

Bank Bills, on demand 8251

2/31

Credita, a months' aight 8 74

UN SAIGON:"

137

On demand

82

·ON MANILA: me.

942

On demand

.:09

On Bangkok 1-

On demand

174

Os demand

$4

SOVEREIGNS, Bank. Buying

Telegraphic Transfer... ! Bank, on demand

Rate

2/31

·Ban Sn ̈ve, per os

ON SHANGHAI:--

On Demand ON SINGAPORE:-

On demand ÖN JAPAN :--

ON INDIA:

BURMAH OIL POLICY

Chairman Answers Attack

(Special Air Mall Service)

London, June 14.

NEW AGREEMENT

ON STEEL

Imports Limited

The Earl of Dudley, who presided, speaking as President of the Iron and Steel Federation, made an in- The chairman of Burmah Of

teresting announcement concern- Co., Sir John T. Cargili, vigorously defended the company's dividend ing. the new agreement with the policy at last week's meeting. He foreign steci cartel. He said that, claimed that there was no reason when, a tarift of 50 per cent was The silver group in the U.S.

for disappointment at the reduced Senate, whion is determined to

rate of 15 per cent., for the year, unposed on iron and steel imports, press, the administration to carry

since they had issued a warning he promised the Chancellor of the out the silver policy stipulated by last year that the same rate of Exchequer and the President of the Congress, met and selected a com-dividend must not be expected on President of the Board of Trade that mittee to call on Mr. Morgenthau, the increased capital. That warn-

the tariff would be used only as a Secretary of the Treasury, for full big had been repeated in the rate details of his silver purchase pro- | of Interim dividend.

means for negotiating with foreign steel producing countries and, in grumme and policy. The com-

no way with a view to raising mittee consista” of five members, and is headed by Senator McCar

allowance by prices. £100,000 they were nevertheless ren of Nevada.

continuing the conservative policy they had been accustomed to fol- low. Assets under every heading were well written down, ard in no

Replying to the letter, which Senator McCarran addressed to him. Mr. Morgenthau says:—

Sir John said that in reducing the depreciation

Within two weeks they had come to a temporary arrangement with the foreign steel carter for a limit- ation of their imports to a yearly total of 650,000 tons, and they then "I do not belleve that the sud- case was depreciation less tham den abnormal rise in price of su- the cost of additions during the asked for the removal of the higher ver to 81 cents in the latter part year. Only during the current tari for a temporary period.

J.L

USE OUR SPECIAL

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LETTER PAPER & ENVELOPES

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LETTER PAPER ENVELOPES

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of April was the result of the normal operation of legitimate market forces. I think it is rather to be attributed to the manipula- tions of special interests.”

The actual amount of sliver ac- quired by the Treasury during the ten months ended May 31 was 423,497,00002. ΟΙ 265,000,0000

year, he said, would they receive

"Last Tuesday I accompanied the

י

YOKOHAMA and RETURN

HK$225.00

viv Shanghai--Kobe-Nagoya-Shimidza HK$255.00

For eailings from Hong Kong June 1st to

September 30th.

Good for Three months-Final return limit October.

31st..

DOLLAR STEAMSHIP

AMERICAN

LINES

MAIL LINE

HUDBE BUILDING- HONG KONG.

دیا

CANTON BRANON—4, #BACK BOLD.

M.V"NEPTUNA"

PASSENGER & FREIGHT SERVICE TO

AUSTRALIA

H

Next Sailing 24 JULY

for Manila, Sandakan, Salamana, Rabaul, Sydney & Melbourne.

First Class Fare to Sydney:

Single: £47.10.0d, Return: £76.

Apply to:-

GIBB, LIVINGSTON & CO., LTD.

› Agents. P. & O. Building

the full benent of the repayment British delegation to Luxembourg. of the £4,000,000 Debenture stock, where we met the foreign cartel He also anticipated that the As- to make a permanent arrangement. sam Oll Co. would liquidated its After a most friendly discussion we SERVICE TO READERS Indebtedness to them during the came to a five-year agreement that current year.

at the end of the year they will limit their exports to a total figure of just over 500,000 tons, giving us corresponding advantages in the

understanding that at the end of

and "the HONG KONG that period the arrangement will be revised in the light of our then pro- WEEKLY PRESS, through ductive capacity,

THE

HE HONG KONG

more than the total world pro-SINGAPORE RAW RUBBER world export market and with the DAILY PRESS, LTD.

duction during that period.

WINE AND TOBACCO- TAXES

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

Shanghai June” 20.

A Ave-day conference for the. purpose of effecting improvements In the existing tobacco and wine tax bureaux throughout the coun- try and of increasing Governmental revenues was begun yesterday when Mr. Wu Chi Ting, head of the Tax Affairs Administration of the Ministry of Finance, presided over ·

Latem Singapore Prices

MESSRS, H. B; JOSEPH ́& CO. Messrs. H. B. Joseph and Co. thi ceived the following Straits Cur-

ป

1.

Tals agreement should enable their London Office, at $3, us immediately to put into employ-

ment many thousand more steel FLEET STREET, F. C. 4, Tel. operatives, with a corresponding

rency quotations from Sirigspore increase in employment in an 3137, are prepared to give

tor: Raw Rubber

Spot

Buyers

Bellers 201 up

201 July/Sept. 204 up i 21:1 Oct./Dec. 218 up 21 Jan./Mar. 22) Un. 221 Market is Nominal at the quo tation given,

those innumerable industries which are ancillary to us.

Subscribers

and Visitors

CONSIGNEE NOTICES.

SERVICES CONTRACTUELS DES MESSAGERIES MARITIMES.

CONSIGNER NOTIÓN.

8.8. "ANDEE LEBONE

BRINGING CARGO From MARSEILLES

ARTED IN HONG KONG SATURDAY, THE 9TH JUNE, 1935.

that their goods with the exeption NONSIGNEES are hereby informed

of Opium, #17ensure and Valuabiles are being huded & stored into the godawan

"Moreover, we now take our advice regarding accommoda- place for the first time as members on available, motoring faci. of the Hong Kong Kowloon Wharf and

of the International Steel Cartel

as friends and allies, and this will lities.

suitable

be of great importance not only towards the better organisation of centres, etc. the fron and steel industries of the world and the provision of cheap steel to world consumers, with the

and markets, but should also as-

Godown Co Ltd Kowloon, hence delivery may be obtained immediately shopping after landing.

If, when at home, they will

expansion of many new industries call or telephone to the above sist in no small degree towards the address, they will receive the standardisation of world prices and carrendes and the policy of peace- utmost assistance and the ful co-operation between all coun-

latest available information on tries and the restoration of inter- national prosperity

the inaugural session of the con- Only one or two out of the ten ference held in the Customs Build bureaux collected enough tax ing. The conference was attended money fixed by the Government by the directors of the Stamp. Wine while the majority of them only and Tobacco Tax Bureaux of prace reached the 30 or 4 per cent, mark tically all provinces in this country. The purpose of the conference, Mr. In the course of his opening Wu said was to devise proper speech Mr. Wu stressed the neces-methods and procedure to increase Alfy of an improvement in the the Government's revenue by get- existing tax bureauz, many of ting rid of corruption other been a swifter and more clear ex-

which had not yet lived up to the abuses in the variou standards set by the Government: China (United Pres

He doubted, if there had "ever

streamz ample of the emcacy of tarifs

પ

all subjects of engu placed at their disposal.

Goods, hot oleared within 7 days including data” of arrival, will i be mabjeck to rente

Claime must be sent in to me en

or before the 19th July, 1935, or they will not be recognised.

Damaged Packages will, b

czarnod

Goddard & Douglas in the prstence of by the Company Surveyors, Metary

July 198

the Consignees at 10,00

Bong