1935-09-03 — Page 13

N.D.L

FAR EAST EXPRESS

PASSENGER AND FREIGHT-SERVICE

EXPRESS STEAMER

Calling at

Genoa, Naples, Marseilles, Barcelona, Southampton, R'diam., Bremen R'burg 5.5. POTSDAM Soot 3rd 8.8. STUTTGART, ....Jan. 24th 8. SCHARNHORST..Nov. 21st S.S. SCHARNHORST ..Feb. 9th S.S. POTSDAM ... ..Dec. 18th 8.8. POTSDAM

...Mar. 26th

8.8. NECKAR...

8.8, OJER

9.8. Oder M.S. Trave

FREIGHT STEAMER

341

Sept. 13th to Genos, Marseilles, Barcelona, Urax, Casablanca Rotterdam, Hamburg, Bremen & Singapore,

Oct. 8th to Marsailles, Barcelona, Oran, Cas- ablanca, B'dam., B'barg. & Bremen:

ARRIVALS FROM EUROPE

...Sept. 4th 8.8. Trier

Sept. 13th

8.9. Dousu

...Sept. 29th ...Oct. 17th

HONGKONG/SOUTH SEA ISLANDS SERVICE.

S.S. FRIDERUN

lat et. to Madang, Falamana, Rabaul etc. 8.8. BREMERHAVEN 95th Oct. to Kavieng, Rabaul, Tulagi, etc.

Subject to Alteration without Notice.

For Pausage and Freight apply to:

NORDDEUTSCHER LLOYD BREMEN

Agents:

MELCHERS & CO.

Queen's Building, Chater Rd,

Telephone. 26378.

CANTON AGENTS: JEBSEN & CO., Shameen. B. σ..

HONG KONG DAILY PRESS, TUESDAY, SEPTEMBER 3, 1935.

NEW FALL IN SILVER PRICE

Big Sales From Far East

(Special Air Mail Service)

London, Aug. 14,

The price of silver continued its downward slide yesterday, the quotation being fixed 3-15d lower al 25 5d per ounce. Recently the price was as high as is an ounce.

This is fall has occurred in spite of huge American purchases, in pursuance of Mr. Roosevelt's plan to raise the price....

Speculators in the East, who bought millions of ounces of silver earlier this year in tha expectation of huge profits, are now selling. According to mes- sages from Bombay, difficulties ure likely to arise as the next settlement day.

LONDON EXCHANGE RATES

Parks Geneva

Berlin

Athens

Xian

Shanghal

New York

Amsterdam Vienna Prague Bucharest Madrid Lisbon

11.35!

$20 S. 601

(Barris WIRELESS SERVICE)

Aug. 28

August 29

75 7/04

75 9/84

15.23

13.231

12.35

601

1/5 13/18

4.97 9/16 7.333

2.333

1191

1194

428 S.

4.97: 7/16

Hong Kong

Brussels

29.49

29.50

Montevideo

391

Belgrade

4.981

4.981

Montreal

Yokohama

12

Helsingfors

It is believed in London that huge "bull" positions were built up in the Far East on borrowed money when the quotation rose over 2s 6d an ounce. Buyers who bought at or near the top of the On market in the late spring now Eave substantial differences again- at them

Meanwhile, America la contina- ing her purchases, although she is contenting herself with buying only what is offered in the mar ket. In this way she has been able to secure the metal at a lower price

Rio

Buenos Aires. Silver (Spot .............. Silver (forward) War Loan

LONDON:---

-28

28 13/18

31% 205 11/16

Closing Quotations

August 31, 1935.

Telegraphic Transfer

ON NEW YORK:-

-28 13/18 31% 105

Bank Billa, on demand 482- Credits, 60 days' sight. 50%

Bank Bills, on demand 11 ON BATAVTA- Bank Bills, 4 months'

sight

ON SHANGHAI :--

On Demand'

ON SINGAPORE:-

PRESIDENT Liners

DOLLAR STEINSHIP LINES

AMERICAN MAIL LINE

FIRST CLASS

SPECIAL

SUMMER

ROUND TRIP FARES.

HONG KONG TO:

KOBE and RETURN

via Shanghai

YOKOHAMA and RETURN

HK$225,00

via Shanghai-Kobe Nagoya Shimidzu HK$255,00 For sailings from Hong Kong. June ist to

September 30th.

Good for Three months-Final return limit October

On demand

sight

ON PARIS :-

Credits. four month

Bank Bills, on demand 738

24-1

Credits, 4 month's sight 780

31st.

ON SAIGON:

31.

On demand

731

ON MANILA:---

On demand

34

On demand

97)

DOLLAR

OK BANGKOK:—

On demand

1651

On demand.....

041

ON INDIA:-

SOVEREIGNS Bank Buying

AMERICAN

Telegraphic Transfer...

Rate

Bank, on demand..

1201

BAR SILVER, per oz.

On JAPAN:-

STEAMSHIP MAIL

·FRODER, BUILDING—–HONG KONG.

CANTOR BRANOH1—4, BHAKUZ ROAD.

LINES LINE

MAERS

LINE

MAERSK LINE

Fast regular FREIGH" and PASSENGER SERVICE

via

Shanghai, and Japan

to

ROCKEFELLER, NINE

MONTHS' GIFTS TO ORGANISATIONS"

Special Air Mail Service)

London, Aug. 15.

Mr. John D. Rockefeller Jun. has given away £15,000,000 since November.

A report of the Federal Securi- ties and Exchange Commission which discloses this to-day of the amount has gone in gifts to edu-

LOS ANGELES, PANAMA, NEW YORK, BOSTON, cational and charitable organisa

PHILADELPHIA & BALTIMORE.

If sufficient inducement offers also other ports of call.

Arrivals from U.8.A.

+++

-22nd Sept.

4tb Uct.

M.V. "NORA MAERSK"

M.V. "OHASTINE MAERSK" M.V.FERNWOOD"

Sailings to USA.

18th Sept.

(All dates are subject to alteration without notice.) EXCELLENT ACCOMMODATION FOR PASSENGERS

AT MODERATE RATES..

For Freight and Passage please apply:-

JEBSEN & CO.

Canton, Shameen, B.C.

Tel 10918.

Agents. Hong Kong, Pedder Building.

Tal. 28363.

BALI JAVA

(In Bome leare why not viäit BALI & JAVA---

the isles of Homance and Beauty, - Through fares to Europe by steamer all the way or by steatoer sad Aeroplane combined. Special reduced round trip fares. Through

fares to Australia and South Africa.

TO" MANILA, MAKASSAR, BALI & SOERABAIA 8.8.."

"TJIBADAK"

3rd September, IV a.m.. TO BATAVIA DIRECT 8.8. "TJISALAK" 10th September, 11 a.. TO AMOY & SHANGHAI M.8. TJISADANE 4th September, Noon. May to September Special Reduced Summer Round-Trip Fare Hongkong/Batavia/Hongkong, FLK.$250,

For further information apply: Thos. Cook & Son, Ltd. American Express Co., Inc. American Lloyd.gg Holland-China Trading Co,, Canton China Travel Service, Hongkong

Canton. JAVA-CHINA-JAPAN LINE.

York Building,

Tel. 98010

C.J.L

tions.

The report is made in accor- dance with the provisions for publicity for the stock dealings of persons owning more than 10 per cent, of the stock of any one company (says Exchange),

The gifts were in the form of stock-holdings.

GOOD TRADE. RETURNS

Exports Again Larger

(Special Air Mall Service)

London, Aug-15. Preliminary Agures of United Kingdom oversea trade in July indicate. a continuance of the favourable trend which has been apparent in the past year or two. Expansion in exports,, particularly in manufactured goods compared "No fewer than 2,100,000 shares with the corresponding month In the Socony vacuum concern year ago, is again a feature. British were disposed of "as gifts to in- exports were £36,443,000-an in- dividuals and charitable organi-crease of £3,213,000 compared with sations" on June 28-nine days July last year, of which £2,355,000 after President Roosevelt's mes- was in manufactured articles. Re- sage to Congress requesting a exports fallfrom £4,129,000 last general increase in taxes, especi-year to £3,881,000. Imports rose ally on "very large personal in- from £58,028,000 to £61,825,000, comes and inheritances,

Among other gifts made after the delivery of the message was one by Mr. Henry Fisher of 20,000 shares in the McCall Corporation worth £132,000 and another by Mr. William K. Vanderbilt of stock valued at £40,000.

RENEWED ANXIETIES IN SILVER

Special Air Mail Service)

+

'London, Aug. 14. .Fears that the United States will shortly abandon, or at least modify, its sliver buying policy are causing heavy liquidation id the London.silver. market by Eastern speculators.

en-

The price of the metal, is now lower than it has been for many inonths. Since it is almost tirely dependent 01 American support it will fall much more sharply If the United States Trea- sury retires from the market.

CANTON SILK MARKET

The Kwangtung Raw Silk Test- Ing Bureau, Department of Recon- struction. Canton. China reports the following:

Canton Quotations

August 30 *Extra 0.8. 13/15 H.K. $410N. Small Extra 0.8.13/15 HK

$4UON

Crack NS. 14/16 HK. $330N. Extra Extra 20/22 HK $305P Waste N.2. Open H.K. 370N.

Yokohama Quotations

a

Spot

Bours 6 months

August 31.

Opening Yen 18 Yen 725

New York Quotations

August 30.

Bid Akk 1.741 1:76 1.871 1.671 March

1.87

1.88 New York Quotations are ob

through Courtesy

September December

The July figures show substantial increases (£3,998,000 in importa and £3,529,000 in. British exports) compared with June last, but this tained

MR. ROOSEVELT'S SILVER POLICY

(Special Air Mail Service)

CONSIGNEE NOTICES.

NOTICE TO CONSIGNEES.

DOBAN STRAM SHIP OO, LAT. CHINA MUTUAL STEAM NAVIGATION 00., LTD.

NONSIGNEES per Do? Vossa? **MEMNON

London, Aug. 15. Mr. Roosevelt is pursuing hils silver policy with cleverness. 811- ver is synonymous in America with powerful political interests The President has promised these big interests to use the powers given him by Congress to "reha-f bilitate" silver. They certainly cannot complain that he is show- ing any lack of vigour as a pur-are hereby notified that their cargo chaser.

will be discharged into Holt's Bhars Kowloon, where it will lie at Consig nees' risk and subject to terms and conditions of storage at Holt's Wharf. The Cargo will be ready for delivery from Godown on and after 30th Aug.

But he is faced by a dilemma, On the one hand, he is not an- xlous to pay

unnecessarily high price. On the other, he knows that if he relaxes his heavy buying campaign the market will become demoralised. Such an event would not suit his political book at aka

r. Roosevelt. solves the 'problem by a gentle and gradual lowering his buying price-s policy which, incidentally, is very merel offul to speculators of many coun- tries who rushed in to acquie silver on the strength of the pass ing of tin silver legis:stion in Congress.

is not true comparison, for July Messra, Swan, Culbertson & Fritz. was a longer month. When the agures are reduced to workingday averages, as in the following table,

a recession from the June levels, SINGAPORE RAW RUBBER probably due in part to holiday Influences, 18" shown:~~

July, June, July 1935 1395 1934

Imports 2,250,000 2,408,447 2,321,778

Rex-

ports

Latest Singapore Prices

BENJAMIN & POTTS Exports 1,350,000 1,371,421 1,278,062ceived the following Straits cur Messrs. Benjamin and Potts have

tency quotations (buyers) from 147,000 217,566 158,797 | Singapore Saturday The excess of imports over exports Rubber:

for Raw for the months. £21,421,000, against £20,669,000 last year. For

Spot

191 cts of ct. the first seven months of 1935 the

September 191 cta, offt ct. excess of Imports is £145,043,000,"

Oct./Dec. 191ets offct. which is £18,644,000 less than for

Jan./Mar 204 cts up et the corresponding period in 1934. 4

MarketQuiet,

U.S. 1

TO GO ON BUYING

But what will be the end of it

F

UNITED KINGDOM AN AVIA SINGAPORE

bere, unless notice has been given Optional cargo will not be landed prior to steamer's arrival but carried on-from port to port to the final port of call to which the option extendi.

All broken,-chated, and damaged goods are to be left in the Godowns, where they will be examined on any Tuesdays and Fridays between the hour of 10.45 43L and Noon withie, the free storage period.

1

No claims will be admitted alter- the Goods have left the steamer's Godown, and all Goods remaining undelivered after the 5th Sept., will be subject to rent.

All Claims against the Steamer muss, be presented to the undersie noch on, or before the 19th Sent, 1000, or they

ts not easy to see. For there re-will not be recognised. main in the East vast hoards of the metal which may or may not be templed out at this or that 10th August, 1835. precise price, and estimates even this market. Who can weigh up of probability are dangerous in

No Fire Insurance will be effected- BUTTERFIELD & SWTHE,

·Agents

12773

a

situation whose development depends upon the actions of the inscrutable East and the policy of inscrutable Mr. Roosevelt?

CONFIDENT MARKETS America yesterday claimed at tention not merely for her silver and currency policies bus, once again, for the strength of the ЯE JOSEPH & CO

New York stock market. London Messrs H B. Joseph & Co re-interest in Wan Street grows, ceived the following Straits Cur-visibly Last hight's "Street" rency Quotations from Singapore market in London developed for Raw Rubber:-

liveliness, and interest was Buyeza Bellers viously spreading: over 19 down 101

range of New Oct./Dec. purchased

101 down 201 Jan./Mar, 201

201 April/June 27 down 31. Market-Nominal

(Special Air Mail Servicn)

London, Aug. 14. In one day yesterday, the American Treasury

Meanwhile America's policy is having serious repercussions on China The drain of silver to the United States has left the Chinese Note lasting banks with insuid- clent metalic coverage and the Hong Kong dollar has fallen below 25,000,000 ns of suver, or more than the export parity rate..

the

tota American production This would normally mean that last year. more silver would be exported, I turn aggravating the situation, lity that the Chinese Government though there is a strong possibl

will attempt to place an embargo on the export of allver.

As, however, it would be nearly impossible to prevent snuggling the ban is unlikely to be effective and the dollar would continue to depreciate ONE

Aroused by severe criticism by various Senators of his handling

Spół

allver

Oklahoma,

As yet thing

est

Industrial

yesterday

and the heavy Ind

larly prominent

Street will act

damper.

polley, Mr. Morgenthan, Secretary silver price has been allpping able that better of the Government's silver buying at the manner in which the world- of the Treasury, announced that Senator Th reports that the Treasury had leader of ceased to buy silver were entirely demanded un inve unfounded and that the poney or the administra purchase In the open market Act, Bome would continue.

We are increasing our The principal hope for the as the market declines, he dollar therefore in that the ed He expr United States will only bid a low that the recent price, if they bid at all for silver, had resul thus leaving no further induce silv ment to speculators to ship, sup

plies out of the country.

Mr.

argent

inte

reta

CONSIGNEES NOTICE.

THE BEN LINE STEAMERS. LIMITED.

FROM LEITH, MIDDLESBRO, ANTWEEP, LONDON AND STRAITS.

THE Steamship

BENLAWERS:

CONSIGNERS of Carro see hereby

informed that all Goods are being landed så their risk into the hardco and/or extra basedow Godowns of the ter- Hong Kong and Kow

Godown Co. Lád. #benao'and/ the wharves Delivery May!

ere Goods have left the Go Goods reading/undeby Oth Sept