1935-09-18 — Page 13

LLOYD TRIESTINO

FLOTTE RIUNITE LLOYD TRIESTINO · MARITIMA ITALIANA-SUTMÄR

3.5.

EXPRESS PASSENGER SERVICE FAR-EAST-INDIA-ITALY SAILINGS 1995.

For Shanghai

W

as. "CONTE VERDE"... 3rd Oct.

"CONTE ROSSO" 2nd Nov, 18. "CONTE VERDE"...30th Nov 8.8. "CONTE ROSSO"... 2nd Jan,

For Singapore, Colombo, Bombay, Snez, Port-Sald, Brindisi Venice, (London by rail) & Trieste.

a." CONTE VERDE"...11th Oot 8.8. "CONTE ROSSO" 10th Nov. 9.8. "CONTE VERDE... 8th Dec. 9.8. "CONTE ROSSO"...10th Jan.

For Full Particulars and Reservations of Accommodation Apply to:-

LLOYD TRIESTINO

Queen's Building. Ground Floor,

Tel. Add: LLOYDIANO

P. O. Box 143. Telephono 82081.

Agents in CASTOR

DODWELL & CO., LTD., SHAMEEN."

Good Printing

will get your Sales Message faster-

across

in a way that it will stick!

Phone or Write direct to:--

HONGKONG DAILY

DAILY PRESS Specializes in Printing Scientific Journals, Missionaries' Tracts and Reviews.

All kinds of JOB printing, Book-binding and Stationery undertaken

At Moderate Prices.

Please call at the Printer's Office at 11, Ice House Stree (Tel. 80251) and not the Middleman for Betaintes,

STRAUSS & CO.

Big Deficiency Reported

(Special Air Mail Services

London, Sept. 3. Under the compulsory liquida- tion of Strauss and Co., Limited, grain and seed merchants, of the Baltie Exchange, Borough High

31

VICKERS'S £1,000,000

ORDER

(Special Air Mall Service> The Secretary of Vickers-Azm- strong, Limited, in London, stated that the Argentine Government had notified the placing of an or der with the firm for a cruiser costing about £1,000,000.

HONG KONG DAILY PRESS, WEDNESDAY, SEPTEMBER 18, 1935.

in

H. K STOCK

EXCHANGE

YESTERDAY'S OFFICIAL

QUOTATIONS

more

There has been a little activity in the market to-day, and a fair turnover has taken place. Prices on the whole show little change, Banks were done at 31015 and Unions at $380.

BUYERS

Hong Kong Banks, $1000. Union Insurances, $375. Ewo Cottons, Sh. $6. Mectries, $52}.

Telephones (old), $18.15. Govt. 4% Loan. 61% Prem. Govt. 31% Loan, 2% Prem.

SELLERS

HK Fire Insurances. $180. Bagulo Gold, 24 cts. „ Yaumati Ferries, $17." China Lights, $8.05.

Electrics, $53.

Telephones (new); $8. H.K. Hopes. $2,15.

!

SALES

Hong Kong Banks, $1015. Union Insurances, $388. Hotels, $3.10.

Hong Kong Lands, $221. Hong Kong Trams, $104. China Lights, $8.05. Electrics, $524/52). Telephones (old), $18. Dairy Farms, $14.80.

THE EXCHANGE

MARKET

MESSRS. ROZA BRÒS.

Sliver prices

were unchanged yesterday the quotations remain- ing at 29) for Ready and 29-7/16. 10% Forward. Advices reported. Speculators 18 haying operated both ways. The market closed

steady.

In America the rate was changed at 651 for spot.

uin-

The London/New York cross- rate was quoted at 4.94) and the New York/London rate at 4.94.

Market

Opened uncertain with indica- tions of easiness but subsequently the market re-acted rapidly and closed very firm at 1 pm.

Sterling

LONDON EXCHANGE RATES

September 14.

75 3/64

15.211

(HRITISH WIRELESS SERVICE) |

Paris

Geneva

Berlin

Atheris

Milan

Shanghai

New York Amsterdam Vienna Prague

Bucharest

12.29

60, 13/16 1/81

September 18,

74 83/64.

15.211 12.28 518 S.

60 11/16 1/6 9/16

4.94 15/18 7.35

119 7/18

7.321 281 119)

36 3/16

Madrid

1

2

Lisbon

Hong Kong

29.31

2/09/16 29:26

Brussels

Montevideo

· 391 8.0.

4.901

4.95)

Belgrade

Montreal

Yokohama

Helsingfors

Flo

Buenos Aires

Silver (Spot

Silver (forward) War Loan

On LONDON:

201

-29)

29 7/18

29 7/16

34% 1042

Closing Quotations

September 17, 1935.

Telegraphic Transfer... Bank Bills, on demand Bank Bills. 4 months'

sight

ON SHANGHAI :~~~~

On Demand

ON NEW YORK:-

Bank Bills, on demand

Credits, 60 days' sight. 3 ON BATAVIA:-

On demand

ક્ષત્ર

ON PARIS:-

Credits four months'

sight

2:18

Bank Bills, on demand 7324 Credite, month's sight 797; OF SAIGOR:—

31

On demand....

70

1

ON MANILA!

On demand

3

ON BAXOXOX:

120:

On demand

nał

*

ง

ON SINGAPORE:-

On demand

On JAPAN-

On demand

ON INDIA:-

Telegraphic Transfer... 1139 Bank, on demand.........

CANTON SILK MARKET

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

Canton Quotationä

September 14. 'Extra OS. 13/15 H.K. $410N, Small Extra O.8. 13/15 H.K.

$390N.

Crack 'NS. 14/16 HK. $323P. Extra Extra 20/22 HE. $330P. Waste N.S. Open HK. $80N.

Yokohama Quotations

September 16.

Opening -Yen 835 Yen 790

Spot

September December March

Bourse 6 month

New York Quotations

September 13.

Bld ASK 1.832 1.85 1.74 - 1.741 1:743 ........ 1.741 CLOSED-September 14. Opened with sellers at 2/0 9/16

New York Quotations are with business done at 2/0 for

tuined through Courtesy December delivery. The market then steadied up and transactions Messrs. Swan. Culbertson & Fritz. were arranged at 2/01 for near

J

SOVEREIGNS Bank Buying

Bate

BAR SILVER, per oz. ............

*

ITALIAN MONEY

TROUBLE

Prices Leap 20 P. C.

(Special Aur Mall Service,

London, Sept. 3. Another eventful day in Italy and Abyssinia followed Signor Mussolini's dramatic, pronounce.

ments on Wednesday midnight after the Bolzano Cabinet meeting, Yesterday the Duce interrupted his work

in the Italian Army manoeuvres to visit the Austrian frontier at the top of the Brenner- Pass.

His journey there was marked by tremendous enthusiasm. Troops left the ranks to cheer him.

By Government order a new list of prices

was affixed to shops throughout Linly yesterday. Many of the chief foods are 20 per cent. dearer,

PRESIDENT LINERS

TO

NEW YORK

offer a Choice of Routes

Sail through the Sues, via Europe to New York. Or wall through the Panama Canal, via San Francisco, Los 'Angeles, Havana. "Or," go most quickly of all, via Seattle and thenos across the continent by train... but go by

· President Liner, The luxurious way that is so economicall

To SAN FRANCISCO 18 Days via Shanghai, Kobe, Yokohama, Honolulu Fortnightly sallings

Pres. Cleveland...Sept. 35, 6.m Pres. Coolidge... Oct. 5, 6 a.m. Pres. Taft... Oct. 23, 6 am. Pres. Hoover.... Nov. 2, Noon Pres. Pierce........Nov. 20, 6 am.

EUROPE, NEW YORK

Inquire for round-trip tickets to Europe In connection with Lloyd Trimtino. Via Mania, Singapore, Penang, Colombo Bombay, Suez Canal Alexandria Naples, Genos, Marselles

Pres Monroe... Sept. 23, 8 a.100. Pres Van Buren. Oct 19, 3 m. Pres. Garfield...Sept. 26, 8 a.m. Prea Polk... Nov. 9,8 13, Pres. Adams - Nov. 28, 8 à 1.

13

To VICTORIA, SEATTLE 17 Days

via Shanghai, Kobe. *-.

Yokohama.

Fortnightly sailing Pres. Jefferson... Sept. 29, 1 a.. Proa. Jackson..(ct. 13, M'night. Frea. Mat inley. et. 26, 1 am. Pres. Grant Nov. 8, 1 am. Pres, Jefferson...Nov. 23, 1 am.

MANILA

THE MOST FREQUENT

SERVICE

.Next Sailing. Pres, Jefferson...Sept. 21, 6 p.m. Pres. Coolidge. Sept. 26, 9 p.m. Pres. Monroe Sept. 28, 8 a.m. Pres. Jackson... Oct. 5, 6.p.m.

DOLLAR STEAMSHIP LINES AMERICAN MAIL LINU

PEDDER BUILDING-HONG KONG." CANTON BRANOR :—4, SHAKEN ROAD,

THEIR LOWEST POINT

(Special Air Mail Service)

London, Sept. 3. From a highest price this year uf 164. the £1 shares of African and European Investment have gradua. ly fallen to 368. 6d. They are now at nearly their lowest point in

193K

Part of the decline is due to recent market unsettlement..

ILI

As was the case last year, interim dividend of 5 per cent. bas been paid. Will the final be 10 ber cent for this year, as for last

CONSIGNEE

NOTICES.

SILVER LINE.

NOTICE TO CONSIGNEES

Επου NEW YORK D OS ANGELES.

for T

There is no serious reason thinking that the company's re- ceipts by way of interest and rent als have diminished. But 1934 wae rich in profits from realisation, and even if one is wrong in doing so, it is safest to suppose that 1935 will not prove so good in that respect.

RE Motor Vessel

BLVERYEW

51

having arrived from the above Ports on 13th Sept. Consignees of Cargo are hereby informed that their Goods scre be ng landed at their risk into the Go- downs of the Bong Kong and Kowloon Wharf and Godown Company, Limited, Kowloon, and stored at. Consignees risk and expense.

However, last year's profits ware not by any means wholly dispersed, The Duce's Dew financial Earnings available for the shares

All broken, chafed, and damaged Gent measures for Italy, announced in qualled 28 per cent, against a are to be left in the Godowas, where bis cominuuniqué after the distribution of 15 per cent. General they will be examined on Thursday,

Reserve was strengthened by an 19th Sept. 1985, at 10 am. Bolzano Cabinet meeting, are re obgarded as signs of Italy's serious allocation of £250,000 and carry -of-nancial position. This is also re-forward slightly increased.

Sected in another way: Our Shipping Correspondent reveals (on Page 14) that Italy may soon or buy coal 'British vendors. EMPEROR FUNISHES

Reference to the order was made 15/16 and 2/1 for near and for-

12/12/01/18 2/02, 2/03, 2/0 SINGAPORE RAW BUBBER be unable to charter British shina at the launching ceremony at Bar-ward. Towards 1 p.m. 2/1 1/18 was also reported for November delivery. There were

row.

==

gellers

at

2/1 for September/December, buy-

ers at 2/1 1/18 for September/

Lates Singapore Price

Street. S.E., and Holland House; ed into a crisis, and, as the com Bury Street, E.C., the report of Mr. J. Barwick Thompson. Cilicialpany in London was unable to Receiver, has been issued, together make any arrangement to the tide November and probably Decem- received the following Straits cur- with a summary of the statement over the difficulties, instructions ber.

of affairs, showing the position in England at January 29, 1935, when the Official Receiver was appointed provisional liquidator. The com. pany had branches in Bombay, Karachi, and Madras, and also business through agencies at Now York, San Francisco, Portland (Oregon), and Hamburg.

carried

The accounts show a total in- debtedness of £1,808,071, of which £1,160,187 is expected to rank for dividend, against net assets £50,732, The issued

capital amounts to £231,000, and the total deficiency is

estimated at £1,080,454.

were cabled to the Indian branches

to suspend payment, and this was

US. Dollars N

Opened with sellers at 501 rising

rate.

done on or about January 26, 1835. rapidly to 50%. at which Within a few days news was re- ceived in London that the manager some business was done for near in India had died in tragic cir delivery followed by transactions cumstances. The financial position at 51, 51 1/16, 51, 514, 511 and 51 of the company had been precarious: 7/18 for near delivery. The market for some time. Towards the end of closed at 1 pm. with sellers at 511 January, 1935, bills for substantial ICT September/October, buyers at sums were falling due for payment 51 9/18 for September/November. in London, and there were

Shanghai Dollars funds available to meet them. In the result a winding-up order was uate on February 11, 1935.

no

The failure of the company is attributed to heavy losses sustain-

were the

BENJAMIN ✯ POTTA Messta. Benjamin' and Posts have

tenc quotations (buyers) from Singapore Yesterday for Raw Rubber:-

Spot

18 ct down † ct. Oct:/Dec. 18 Cts. down. ct. Jan./Mar. 191 ct down ict. Apr./June 20 cts. down iet. Market-Dull

B. B. JOSEPH & CO Messrs H. B. Josephi & Co. re- ceived the following Straits Cur- rency Quotations from Singapore Selers were quoted at 1301 for for Raw Rubber-

Buyers Sellers spot

18 Unch. 184 181 down -19 191 down i 201 down 1 Market-Uncertain.

Shanghal Market

AT. THE AFTERNOON.

A winding up order was also ed through (1) default by buyers Opened steady with sellers at made in Bombay on April 18, 1833, owing to a heavy fall in the market 1/6 13/16 but later firmed up to but some considerable time smuat prices of grain, mainly in France 1/71 for spot. US Dollars-open- elapse before a statement of affairs and Italy: (a) interference, owing ed with sellers at 38 13/16 and As regards the winding up in India to Government regulations, with closed very firm at 391 for spot. will be available.

the ordinary business of the com According to the Official Repany with the United States of America and elsewhere; (3) F ceiver's report the company Was

The market was erratic in the promoted by Mr. E. A. Strauss as though documentary facilities were

liquid funds

afternoon but closed steady. a private company in 1915, to carry sufficient,

Sterling un business as grain and corn mer frequently lacking to carry chants and to buy, sell, and deal trading position taken up until

Business was done at 2/03 for in commodities of dil kinds. The markets and exchanges, which have business has been financed for fluctuated excessively, stabilized; October and near subsequently many years by Mr. Strauss, who, (4) errors of market judgment; (5) 3/0 15/18 and 2/1 were also done in the January, 1935, accounts, losses on produce imported into for car and forward finishing was shown to be a creditor for India; and (6) overtrading, un with sellers at 2/0 15/16 for Sep-. £395,389 on loan account. A sum wittingly accentuated by the good tember/December, buyers at 2/1 of £250,000 was written off that will which the company enjoyed September/November and prob-

ably December. gentleman's loan account in 1992, with many large buyers,

Mr. Strauss states that he is which had the effect of strengthen- ing the company's position. In prepared to accept these views de addition to his loans Mr. Strauss to the causes of failure. He points had given guarantees in connexion with the company's transactions, in respect of which £1,213,500 was outstanding at the date of the winding up order)

"INDIAN COMMODITIES The company dealt largely in Indian commodities. The financial position in India suddenly develop

1

U.S. Dollars Business was done at 51 3/18,

out, however, that he has not taken 61 5/16, 511 and 51 7/16 for near any part in the management and delivery. The market closed with that he has not been in touch sellers at 61 for September/Octo- with the affairs of the company ber. buyers at 61 7/16 for near for many years.

The Court has appointed Mr delivery. Russell Kettle, CA, of Mesara Deloitte, Plender, Griffithe and Co., as liquidator of the company with a committee of inspection

Shanghi, Dolları Bellers were quoted at 1311 for near delivery.

Spot

Oct./Dec. Jan.Mar. Apr./June

101 201

H.K. SHAREBROKERS' ASSOCIATION

.* BUYERS Banks, $1000.. Canton Inace, $180, *Unions, $375,"

Douglases, $35.; Steamboats, $34. Antamoks, 77},"cta. Bagulo Gold,, 21 cts: Big Wedge, 81 cts. Gold Rivers, 51 cts. Balacots, 13 cts, Hotels, $3. Lands, $221.

Providents (old), 45

Trams, $10.65: #ectrics, 52... Cantor Ices": 311.2 Govt, Loan 4%," &%.

SALES Trams, $10.75,

HOTHEADS

The Lega.ions in Addis Ababa, the Abyssinian capital, have ap- pealed to merchants not to leave e aty. It is feared that the capital's resources will otherwise be crippled.

Sir Percival Phillips, in anotger message to-day from Addis Ababa, describe yesterday's defence pro- parations in the wountry.

He adds that the Emperor has

Further, at the meeting in May, when four and half months of the current year had passed, thn

chairman said satisfactory profits

or

All Clams must be presented within 16 Days of the vessel's serival, Bara- after which date they cannot a 10-- cognized.

No Claims will be admitted after the

Goods remaining undelivered after the

0th Sept., 1935, will be subject to.

Goods have left the Godowns, and all

Rent

by

No Fire Insurance has been effected, Bill of Lading will be countersigned/

had been iarned so far.

The company is very large landowner directly

through aubsidiaries it holds an immense acreage and mineral rights and assets town plote-bus its main consist of investments in a great umber of gold-mining and other companies. These investments in- clude holdings in onpanies which Hong have been notably successful, t

At their present low price the shares are attractivu

had to punish some to his army NO CHANGE IN ABERDEEN

hothead" leaders because they have been pressing for more ag- gressive, measures.

The Emperor desires that nothing should be done to give Italy an excuse for invasion

BERLIN SHARE MARKET

(Special to the "Hong Kong Dally press" (Copyright).) |

RATES

น

FURNESS (FAR EAST), ITD.,

4th Floor, King's Building Connaught Road.

Dal 22165

Kong, 13th Sept., 1996.

[3508

HAMBURG AL:ERIKA LINIE.

NOTICE TO CONSIGNEES.

NHE M.V.

*BHEINLAND

(Special Air Hal Bérvion)

London, Sept. 3. There is to be no change in the

The Aberdeen city rates. Finance Committee of Aberdeen Town Connell at a meeting yes- having arrived, from Hamburg and terday agreed to recommend that Ports of call Consignees of Cargo are hereby notified that their Goods are the consolidated rate for 1936-38 being landed and placed at their risk into be 3s 4id per £1 on owners and the Hong Kong & Kowloon Wharf & Berlin, Sept. 16. - ds 10id: per: £1 on occupiers, Godown. Company's godawas at Kowloon, The lack of buying atters which, with the domestic water- where delivery may be obtained

spda caused prices to gag and certain rate on occupiers of 4d per £1, the Goods are landed. declines reaching 1 points makes the total local rates Es Fixed interest securities were not ad per £1, the same as last uniform, Cold Mortgage Bonds year. being weaker all round but pro- vincial loans were a shade, higher. Call Money was at 21 to 3 Transocean Kuo Min

REICHSMARK, QUOTA. TIONS

(Special to the "Hong Kong Dally

-press" (Copyright).1

Berlin, Sept. 18. Reichsmark quotations (without guarantee);

New York Paris Amsterdam

40.27

:610.25

59.765

2.2926

Sterling

75,09

15.17

I

Optional Cargo will not be landed here, unless Notice has been given 18 hours prior to Vessel's rival, but carried on from port to port is the final pors The amount to be levied by the of call to which the option extends. consolidated rate is £522,608, or No Claims will be admitted after thr

Goods have laft the Godowane and a which £256,376 falls on owner Goods remaining undelivered after the and £366,232 on occupiers. The 20th Sept, IP35, will be ruhjest to sum to be raised by the domestic Hent SEO S water-rate is 213,550. The esti-All broken, chafed sad damaged Goode gre mate of £187,097 for education is are to be left in the Godowns, where ar increase of £8,870 over last they will be examined on 19th Sept, year's expenditure, but the esti- 1986, at 10 mm. by our Burveyor, mate for public distance of Man Goddard & Douglas,

To comply with the General Bonded £141,168 is a decrease of £38,626 Warehouse Hegulations consignes Inak on last year's expenditure, have a Revenus Officer in attendsoro

There is this year an estimate when damaged duvable goods

£12,750 for the Corporat'on examined. Order, 1934 (Extension of City 19th Sept 1985, or they will moh na before ther Boundary)..

02

The estimated capital expend! ture for 1935-36 16 £523,090, in-... cluding £56.225 for streets and roads, £114,475 for education, and 264,000 for electricity.

́All Claims'must."

No Inson will be affected. Buls of Lading will be count

Kong, 18th Sept