1935-12-18 — Page 13

FLOW OF GOLD FROM FRANCE.

BANK RATE AGAIN RAISED

Politics and The Franc

$169.000 CLAIMED BY NATIVE BANK

Tsingtao Motor Co. Denies Alleged Indebtedness

HỒNG KONG DALY PREOS WEDNESDAY, DECEMBER 18,

THE EXCHANGE MARKET

MESSĖS. ROZA BROS.

The price for spot sliver dropped 7/16 yesterday, the quotation-be- Ing 28 (nominal) but there was no Forward quotation. Bliver advices reported Amerien as having bought 5% of the offerings. After the amcial fixing no further advices were available.

Shanghai, Dec. 12. A claim for $169,037.33, alleged to be owed by Eckford Motors, Ltd. Owing to the continued flow of of Taingtao, to Moo Sheng-wu, a gold from Paris the Bank of France Creditor of Yi Ho-chen, was made silver was quoted at 591.

Paris. Nov 25,

In America the rate for spot

The London/New York cross-

by the latter, a native banking decided this morning to raise the concern, represented by Mr. John rate was unchanged at 4.92) and Bank rate once more, this time

McNeill in H. M. Supreme Court, from 5 to 8 per cent.

The rate

company.

.

EXCHANGE RATES

LONDON

(Britian WinALMA SERVICH)

December 14.

Parti

74.33/64

December 16. 74.93/64

Genkra Berlin

15:18

12.25

12/9

Athens

520 S.

Hilan Shanghai

New York.

Amsterdam

4.92 11/16 7.278

4.921

7:27)

118 11/16

685

Vienna Prague

Bucharest

Madrid

the New York/Lordon rate was a

Lisbon

Hon). Konr

Brussels

1/3 9/18 29.201

39.22

"Montevideo

4.961

4.903

1/2

1/21

MARKET

Steady but quiet.

STERLING

for advances against gold is rai./before Judge P. Grant Jones, yes-shade higher at 4.93. ed from 6 to 7 per cent, as is the terday Mr. M Reader Harris ap rate for advances on paper recur-peared on behalf of the defendant Ities, and the rate for advances

It was revealed that Moo Sheng- for 30 days on public securitiesu, who formerly acted as com payable not more than two years

pradore to Eckford Motors, and hence is raised from 5 to € per

also to Cornabe, Eckford & Co., a cent.

Chefod, an entirely separate con cern from the former, absconded in March, 1934, and has not been heard of since.

This increase brings the French bank

rate back to the highest figure which it reached during the monetary crisis of the early sum- mer. It was fixed at 6 per cent. on May 28, and remained at that level unti June 30, when a caut- ious reduction began. On August 8 the rate was brought down 3 per cent, the level at which is stood before the crisis; and there it remained until November 14, when it was raised once more to 4 per cent. to check the outdow of gold which has again set in.

GOLD FOR NEW YORK The loss of gold by the Bank in the week ended last Thursday, which will be covered by the next weekly statement, was about 1,400,-

£ 18,700,000 000,000 about

at present rates]. Large shipments continued during the week-end, especially for New York.

A sin-

gle British ship, the Alaunia, em barked 20 tons of gold-about £4,000,000 worth-on Saturday, and other consignments left Paris by air or rai for various destina- tions.

These losses will bring the gold

The whole of the morning session was occupied by counsel arguing the nature of the case. Mr. Mc- Nell submitted that he was not required to produce certificates showing a debt was owing, because procecalngs were not started as garnishee proceedings. They were in the nature of a garnishes aum- mons, but the case wES an 16- tion,

GARNISHEE SUMMONS

Mr. Harris maintained that if the case was not a garnishee sum- mons, then it must be dismissed, because the allegation of indebted ness of his clients was to Me Sheng-wu and not to YI Ho-chen The plaintify, he held, had no claim upon Eckford Motors except by garnishee. Further, he denied that the defendant company was indebted at all to Moo Sheng-wu. Eckford Motors owed, Moo $224,000. but Moo Inter released them of this .debt.

WOO ABSCONDS

Opened with sellers at 1/3-9/15 with business done subsequently at 1/3-11/18 for December and 1/31 for January. The market closed at 1 p.m. with sellers at 1/3-11/16 | for December, 1/3 for January and 1/3-9/16 for February, buyers at 1/16 higher respectively.

U.S. DOLLARS

A small business was reported during the course of the morning at 32-3/16 for January. The mar- ket closed with sellers at 321 for December, 32 for January, and 32 for February. buyers at 1/16 higher respectively.

SHANGHAI DOLLARS Bellers were quoted at 108), for spot.

SHANGHAI MARKET Opened with sellers at 1/2-7/18 and closed & shade steadier at 1/2- 15/32 for cash. U.S. Dollars- opened with sellers at 291 and closed at 28-11/18 for spot.

IN THE AFTERNOON The market was steadier in the afternoon.

STERLING

C.S. DOLLARS

Business was done at 1/3 for cash and December, 1/3-11/16 for first half of January and also for January delivery. The market Mr. A. R. Hogg, managing direc: closed with sellers at 1/32 for reserve of the Bank of France this tor of the defendant company, and December,, 1/3-11/16 for January week below 70,000,000,000f. about Mr. V. R. R. Eckford, chairman of and 1/31 for February, buyers

£033,000,000]the lowest level it the defendant company. gave evi-1/16 higher respectively.. has reached since the stabilization dence. Mr. Hogg said that Moo of the franc by M. Poincare in Sheng-wu bad agreed to wipe out 1928. The Governors of the Bank a debt of $75,000 gwed by the com of France have in no way modified pany to him, if the assets of the their determination to keep the company were handed over to him franc on gold unless and until for a period of ten years. On legal general stabilization of currencies advice this was found to be im-ary, buyers at 1/8 higher respec- can be obtained. They are work-practicable and it was then decid- tively. ing the gold standard strictly ac-ed to transfer all the shares, with cording to the rules in order to the exception of two, to Woo and save their gold reserve, regardless this would put him in virtual con- of the depressing effect on trade, trol of the company. Woo agreed

and later agned an agreement. which also was signed by all share holders. The transfer of shares, however, was never completed, be-- cause Woo absconded. "

In spite of the raising of the Bank rate business was brisk on the Bourse to-day and there was a useful recovery in the value of Rentes. This was due to the im-

CARS REMOVED proved prospects of the Govern-

After Woo absconded, Mr. Hogg ment in the coming Chamber de-

an action was brought bate. The franc, after opening at said, 75.74 to the pound and 15.19 to the against him by Eckford Motors for dollar without any strong inter- money lost by Woo, stealing cer- vention of the British Exchange tain promissory notes of the com Equalization Fund, advanced to pany, and for cars and 74.87 to the pound by 4.p.m.

1

trucks;

which he removed by trickery and mortgaged. Judgment was given In their favour for $38,728.45, Mr. Eckford said, that, when Woo ab- sconded a Maich, he got away with $290.000 of peanuts of Cor. nabe, Eckford & Co. and gaged them."

mort-

MAINTENANCE OF ORDER The plans of the Government for the opening of the Parlament- ary Session are now almost com- plete. M. Laval to-day conferred with his Minister of the Interior

At the conclusion of evidence,' and received his confidential re-

the Court adjourned until 10 am. port on the Limoges incident, which will be laid before the Ca-to-day, when counsel will sum up.

binet to-morrow, The Prime Min- ister has decided to make a broad- cast statement at 8 p.m. to-mor- IOT. He is expected to give aÉ- surances that the Government will do their duty In keeping order to throughout the country and

SINGAPORE RAW RUBBER

Business was done at 32-5/16 for cash and December. The market closed with sellers at 32-5/16" for December and 32-3/16 for Janu-

H. K. STOCK EXCHANGE

YESTERDAY'S OFFICIAL

QUOTATIONS

The market shows no special features to-day but remains quite steady with only a small business reported.

BUYERS Benguet Consolidated, $154. Venz. Goldfields, $3. Wharves (Old); $917. Hongkong Lands, $34.

SELLERS

Union Insurances, $585. Providente (New) 15 cts. Star Ferries, $90, Electrics, $89.

Belgrade

Montreal

Yokohama

Helsingfors Rio

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

ON LONDON-

28 7/16 unquote

1051

Closing Quotations

December 17, 1935..

Felegraphic Transfer... Bank Bills, on demand }13

ON NEW YORK÷——

Bank Bills, on demand 31

Credits, 60 days' night. 32).

ON BATAVIAI–

On den and

Bank Bills, 4 months” va

night

400

1/3

ON PARIS

Credits. four months":

Bank Bills, on demand 477}

to right

.. 1/4

Credite, month's sight 500

OS SHANGHAI Z

ON SAIGON:

1 On Demand

106)

On demand

ON MANILA:

347

On demand

t

ON BANGTOK:-

Oo demand

}Bak

ON SINGAPORE:---

Ou domand On JAPAN:-

On demand ON INDIA:

Telegraphic Travater..... Bank, on demand.........

SOVEREIGNS. Bank Buying

BAR SILVER, per es

Bate

63

1/31

NEW YORK STOCK EXCHANGE

Sun

-ri

(ENPOGEN KOnieru Ázsney)

New York: December 17.

QUOTATIONS"

New York/London Cross-rate "New York Cotton-Mar. New York Rubber-Mar Chicago Wheat-May. Chicago Corn May. Silver--Official

.20 · Utilities

40 Bonds

1:, י יי .

East Today's High Low Close Close Change

4.991 492 i up 11.15. 11.01 1625 1144 .ai off 13.39 13.20 13.40 17:32h 08 off 944 871 981 970

It off 80

4 off

Dec. 18. Change

Basiness Dons: −1,400,000 shares,

Mont," Ward **

Dec. 14 Dec. 18

** ****** *** *88¶#

LLOYD TRIESTINO

CEDATE - CONITE QUAYA TAKATA-

EXPRESS PASSENGER SERVICE

ITAL FAR-EAST - INDIA -

MAR

TAKE ADVANTAGE of our SPÉCIAL REDUCED TW MONTES RETURN TICKETS allowing a stop arm of about weeks in India, 9 weeks in Ceylon of 10 weeks at the Stripe

FARES FROM HONG KONG

To Bombay... Colombo

100

2nd.

stud. Boon, disan

£5

241

$12

219

the

EIS

£15

T

Singapore

NEXT SAILING M.8. “*VICTORIA ** 26th JANUARY, 1998; REDUCED RETURN TICKETS ALSO TO SHANGHAI

- 186, ul. £12,—tod, al: £9,2nd. Econ. el £6. NEXT SAILING M.8.“ VICTORIA” 19th JANUARY, 1838." For full particulars and reservations of sccommodation apply to:..

LLOYD TRIESTINO

I'

Queen's Building, Ground Floor, Ta

P. O. Box 143.

Telephone 829981,

Tel ada LLOYDIANO"

DODWELL & CO., LTD, SHAMEEN,

Agents in CANTON:

BURNS PHILP LINE M.V.

"NEPTUNATM”

PASSENGER & FREIGHT SERVICE TO AUSTRALIA

Next Sailing 18th DECEMBER

for Saigon, Manila, Saudakan, Salamaua, Rabaul, Sydney & Melbourne.

Passengers must be on board by 11 p.m.. of the 17th December.

First Class Fard to Sydney:

Single: £47.10.0d.

Joint Passenger Agents :***....

CONSIGNEES' NOTICE.

BURNS PHILP LINE.

BOB0159) -anquo ed I

Dow Jones Averages

30 Industriala

High-1934/35 148.940

Low! Dec. 14. 96.71 140 38

20 Railt

41.84

17.31 0.08

* 136.11 1.37 Off .50 of

29.06

14.44 28.37

28.16

91 of

98 31

93.43 97.81

$7.68

13

11 Commodity ladex.

62.10

83.14 68.28

06.48

$1 off

Last Sale

Las, Sele

"Stock & DIY Adams. Express Amer. Can (4) Am. Cranamid “B”.

(.25dr.) Am. For Pur

dec. 14 Dec. 18

Stock & Di

101

101

Gold Dust (1.20)

101

181

1311

1291

Goodyear

20% 201

Int. Cement

..... 201

280

Int. Nick (60)

401

61

01

Am. For. Pwr, $7 1st

Int Tele- Tel. Johns Manville

121

12)

Pi.....

Am Locomotive

26b

242

Kannecott (151) Loews (1)NCE

274

511

51

Am Radiator

221

221

Lorill. (1:20)

237

24

am. Smelting) 683-

$7

am T and T. (9)... 155

164.

Nat City BE (1)

1381

Am Tob #B (5)

92

924

Nat Do P.

J

Constructions (Old) $2.

SALES

Am. Waterworks (1), 204 Am. Waterworks 16

·201

Nat. Distillers

304

30%

Nat. Pwr. Lt. („80)........

pret (6)

91b

Q1b

K.Y. Centra

271 201

Wharves (Old) $92.

Anaconda Copper - 27 Atch T and 8. F.

281

·N. Amer. (59c. 4%8). 242

.241

Pac. Gas (1.50)

20+

281

Shanghal Cottons (New) Sh$414 (2sd.) Hotels, $5.

Pac. Ling (3)

Auburn

Hongkong Lands, $34.

Cements, $8.

Automoblie Baltimore & Ohio Bethlehem Steel ... Boelig Airplanė“.

Packard Motors

181

·

371

37

Penn. Rly (1)

301

131

131

291

Phil Petro (1)

361

361

414 41.

Borden Co. (1.60)

b951

961b

Pub. Ber NJ, (2.80) 411 Radio Corpo:

421

Borg Warner (dr.) Case

Rey. Tob "B(3)

Behenley:

Canadian Pacisč

.081

971

Bears-Roebuck

Caterpillar Track...

107

544

107

Boc-Vac, (,60)

651

the

Left on Thursday.

The prospects. for that occasion

EL B. JOSEPH & CO

December 17. Messrs H. B. Joseph & Co.

Ch. Nat. Bk. 11.40

C'Peake Corp. (2.50)

D401

40lb

Sra. Cal. Ed (150) 131

Southern Pacific

24

C'Peake Corp. and

561

574

Stan Brands (1). 227

Singa-

Euyers

Sellers

Sput

214 Unchanged 217

Steamboats, $3. Antamoks, $1.20 CD. Baguio Gold, 151 cts. Beng: Explorations, 9 cts, Gold Rivers, of cts. Balacots, 14 ots.

Onto (2.80)

Stan Gas d

51.

142

504

143

Chrysler (18ƒ.....

Sta ́O NJ» (1) ·

851

851

COL Gas & Mer.

13

13

Ster. Pro. (280) 64

64

Comm. Bote:- (-60).),

861

*881

Studebaker Corpn

Comm. Stafn.

21

21.

Texas G. Bulp (2)

30+

Comm... Sthr

Transamerica (1.134)

127

121

£225%

Jan/March 224 April/June 223 July/Sept. 231 Market Steadier.

221

Wharves, $91.

Cyna Oll (28)

Un Car, and Carb

221

Providents Old, $1.85..

cum. Fl. (8)

231

Yaumati Ferries, $161.

Cons Gas, NY (2)

304

301

(1.40)

70

697

Un. Pac. Rlys. (6) 105

105

Electrics, ~$67,7een

Cont On (25) N

291

Un. Aircraft Corn... 22

BERLIN SHARE MARKET

Corn Prod (3)....

Douglas Aircraft

Un Air Line Trans... 111 United Corp.

11

6

Du Pont (2007) sem 1363

*135

Uni. Gas Impr. (1.20) (45)

Blee. Bond & Share, 151

14%

Unly, Leaf Tob. (3) 171

423 171

Elec, Bond £5. P£•(5)

U.S. Indus Alcohol... 681

07

Elec. Bond $6 FL (6) 731- Fox Film

13

U.8. Rubber

141

UB, Breel

451

441

Gen Elec (80)

36

36

183 #181

Gen Foods (1.80),

324

··321

Warner Bros.

Gran Motors (10)

54

・West 1. & M.

Gen. Riy, Bigs (1),

30%

Call Mone

make a new appeal for unity in defence of the franc and of in ternationa¡ peace. M. Lavala statement and the decisions which the Government will announce in connexioti- with the Limoges affair may auffice to stave off the threat of a concerted attack from

Latest Singapore Prices

have hardly changed in the last ceived the following quotations

24 hours except that the reluctance in Straite Currency from

of the Radicals to follow their pore for Raw Rubber.

more impatient allies into a first-

has been class political crisis strengthened. A new symptom of this feeling is an article in a pro- vincial newspaper by M. Lamour- eux, a moderate Radical and. for- mer Minister of Finance, who frankly admitted that the Front Populaire bad no coherent pIO- gramme, that its campaign against The Socialists, on the other hand, the Government was purely nega have decided to vote against the tive and destructive, and that it Government in any case, and there. could not possibly form a stable ad- is also the possiblitty that some ministration, As M, Lamoureux hat or the Right may do likewise f bitualy speaks with the words of M. Lavale condemnation of the M. Herriot, his advice to this fel, Croix de Feu for their activities at low-Radicals may be expected to Limoges seems to them over- carry some weight, and his in severe. In all the circumstances tervention weighs the scales à lit the political prophets to day give. tle further in favour of M. Laval, M. Laval an even chance.

Dairy Farms, $19.

H. R. SHAREBROKERS*

ASSOCIATION

Buyers

Shanghal Wing On. $42., Gold $ Bonds, 91%.

Sellers Underwriters: - $1.05. Antamoks, 1.30 CD. Beng Explorations, 10 ets.. Providents Old, $1.45- Telephones Old, $35, Constructions Oid, $1,£5. Constructions New, 40 cte.

Bales

Underwriters, L Light, $10,90 CD.

Return: £76

Vanddium.

Picta D

GIBB, LIVINGSTON & CO., LTD. P. & O. Building.

NIPPON YUŞEN KAISHA King's Building.

FREE MELBOURNE, SYDNEY. SALAMAUA, BAHAUL, SAND-

AKAN AND MANILA, ·

THE MY.

*NEPTUNA."

CONSIGNEE NOTICES.

SERVICES CONTRACTUELS DES MESSAGERIES MARITIMES.

CONSIGNEE NOTICE.

8,8. "PRESIDENT DOUMER "

BRINGING CARGO

From MAKSEILIKA, &c..

ぷ

AIVAS HONG KONG OF FRIDAY, THE 13TH DECEMBER, 1935.

CONSIGNEES

hereby informed

CONSIGNEES of Cargo are hereby informed that all Goods are being landed at their risk into the hardous and for extra hazardous Godowns of the Hong Kong and Kowloon Wharf and Godown. Coy

Tellery and/or from the wheever

may be obtained. Wo Olaine will be admitted after the Goods have left the Godowns, and all Gooda rezasining

undelivered after the 28ed Deo., 1975, will be subject to Bent Godowa obtained immediately

All Olims against the Steamer must be presented to the Undersigned on or

before the 6th Jan, 1936, or they will not be recognized." --"?

To comply with the Gaaral Bonded

Warehouse Regulations, consignees nat

that their god da with the exception of Opium Treasure and ¿Valuables are being landed & stored into the godowns. of the Hong Kong Kowloon Wharf and

Led Kowloon Thence

delivery may be

after, landing, PA

All Claims must be sent in to me on before the 23rd Dec, 1936, or they

will not be recognised.

Damaged Packages will be examine

have a Revenue Officer in attendance by the Company Sarveyors, Me 543 when damaged dutiable goods are

goods are | Goddard & Douglas in the presence of

+921911

3/4%

examined

the Consignees at 14.00 a.m. on Tass-

1 broken, chafed andydamaged Goods day, 18th Deo, 1935, are to be left in the Godowns, where they will be examined on the 21st Dec. 1925, at 10 am. by * Goddard & Denglan, ang

Consignees must have RevADDE Officer in attendance when any datiable are examined by the Company's ***.goods

No Fire Insurance will be effected by us in any case whatever. =)

BÜHL

gont Hong Kong, 13th December, 1936.

No Fire Inanranos has born effected. Bills of Lading will be countersigned

GIBB, LIVINGSTON 1 On. Læn,

Agents Bong Kong, 17th Des., 1985,

(Special to the Hong Kong Daily

Prem!! (Copyright).] "net.

Berlin, Dec 16. The tendency on Monday's share market was distinctly weak, prices

were at the commencement erratic, and finally crumbled in Conse quence of the preponderance of sellers. Fixed Interest secuples were aplet, but prices were also i maintained. Call money was at 21 1/2 to 3 m Transysenn Kwa Min

(4055)

REICHSMARK QUOTA. TIONS

guarantee) :--

New York Paris

Berlin, Dec 16. quotas (without

Amsterdam... London

Paris Sterling (Low), 74:66

Paris Bidding (High)-7457 Dollar (Low) 71 15.19725

Transoccos: Kuo Hin

· possible Arutlation

All

-482706

809

5937

∙12.75