1936-12-18 — Page 13

NDL

FAR EAST EXPRESS

PASSENGER & FREIGHT SERVICE,

Straite & Ceylon

Manila

From Hong Kong ta

Townla

POTLA

Europe

Beharent

Mare, Farciona, Palm D. M.. 8'bampton, Batteriam, Bremen, lamb

Trave.

*****

Mari, Amsterdam, Usterdam, H'burg. Bremen

Dao.

Dec.

31

Besharnhorst

S'pore Penang, Belawan, Colombo..

Da

Trys........ Sabarnhowt

Hingapore, · Belawan

Dec.

31

Hanlin

Dec.

· ដរ

Shanghai & Japan

Shanghal, North China & Japen

South Sea Islands

Patkim

'bal. Tekohama, Koba

Jan,

Bitanghal, Deirno, Talagtso, T'ham,

Nagoys, Kobe, Dunka

JAR.

9

Kronurbavon....

Mucing. Tulky), Bahaul, «tc.

Ja

11

Sabject to Alteration without Nation.

For Paasgn and Prebs_apply to:

NORDDEUTSCHER LLOYD BREMEN

Queen", Hailding.

MELCHERS & 00,

AGENTN

Telephone $777L.

CANTON AGENTS: JEBSEN & OÖ,, SHAMEEN, 8.0.

THE

4.HELIOS"

CHINA-SIAM

HONG KONG-BANGKOK

LINE.

leaving Hong Kong 23rd December via Swatow HONG RONG-SWATOW-AMOY

1.8. “KAI BING" leaving Hong Kong 3rd December Accepting Passengers & Cargo for all the above metioned ports.

HONG KONG

SINGAPORE-PENANG-RANGOON Regular Express Service

..BAI HING" leaving Hong Kong 30th December Accepting cargo for all the above mentioned ports.

Excellent passenger accommodation available.

For freight, passage rats and all other information—Apply to

THORESEN & CO., LTD.

Tel. 30237.

S.S.

General Agents.

Queen's Building.

"BENLEDI"

Sailing for LONDON, ROTTERDAM, ANTWERP, HAMBURG and LEITH on about the 9th January.

or

Cargo will also be accepted on through Bill of Lading to the usual transhipment ports.

Next Sailing for SHANGHAI & JAPAN S.S. "BENLAWERS”

Tel.

22533

26th Dec.

For Freight and Pasange apply to:-

W. B. LOXLEY & CO., (CHINA) LTD.,

York Building. Agents;

THE BEN LINE STEAMERS, LTD.

THE EXCHANGE MARKET

FOREIGN TRADE OF GERMANY

149

HONG KONG DAILY PRESS, FRIDAY, DECEMBER 18, 1936.

FINANCE

China's Economic Outlook

The speech delivered by Sir Fre- derick Keith-Ross, chief" economic, adviser to the Government. to the Chins Association recently, was of exceptional Interest not only to the numerous commercial and trading interests in Chins having connections with the Far East and to holders of Chinese bonds, but to an even wider circle-namely, all who are concerned to see at the earliest practicable moment a re- sumption of international finance with which the revival") of inter- national trade is closely bound up states "The Times." Although the original purpose of the British Government in sending Sir Fre~ derick Leith-Ross to Ching was to secure

international cooperation for the purpose of assisting that country, in the end none of the

were countries that

invited to collaborate were willing to do so, and Sir Frederick went out alone. In these circumstances the visit wis more fruitful than could pos- sibly have been anticipated. At the time China was suffering from an acute

monetary and Anancial crisis. That crisis was overcome in a manner which showed that the Chinese authorities had not lost a capacity for handling a big problem in a big way. The almost revolutionary currency reforms Introduced little more than a year ago have worked with remarkable smoothness, the exchange has been firmly maintained without any difficulty, and the resources of the three Government banks have been greatly strengthened. The creation of a proper central re-. serve bank has not yet taken place, but the expert report on this ques- tion is now before the Chinese Government, and there is every reason to belleve that the new bank will be organized in the near future.

THE BUDGET QUESTION * Speaking of the vital necessity of securing a balanced Budget, Sir Frederick Leith-Ross said that his Majesty's Government hoped that British and foreign traders would not content themselves with seek- ing merely to perpetuate in- definitely the immunities they enjoyed, but would consider China's scal needs in a constructive spirit reference, of course, to the question of the yield of taxation. Meanwhile, thanks to the reforms that were undertaken last year, there has been a notable improve- ment in Chinese revenues existing taxes. The Customs re- venues. he aald, already,' showed distinct signs of such improvement. During the earlier month of the year the yield was disappointing owing to the general depression. and also to extensive smuggling in North China. That, however, has been substantially curtalled, and sace July Customs revenues have shown steady and strong recovery. This recovery will be carried far- ther when the Chinese Govern- ment have revised their tariff as they are now doing.

וי

INCREASED CUSTOMS

from

REVENUES Chinese bondholders will be particularly interested in learning of this improvement in the Ous- toms revenues, for bonds secured on the Customs have not yet re- covered to the level at which they stood before the smuggling took place, causing nervous holders to sell owing to fears that the bond service might be imperilled. There is no ground whatever for anti-. Berlin, Dec. 16. elpating any difficulty in maintain- The German foreign trade baing the service of the bends, China lance for November shows a sur-is now engaged on a large pro- plus of 64 million reichsmärk over gramme of internal development. the preceding month. The figures and in the absence of foreign lend- for the period from January to No-ing she has been forced to raise The price for Ready Silver drop-vember 1936 thus give the German internal loans, to an excessive ex-

trade a favourable balance of 459 tent, and ped 1/16 yesterday and the For-

at increasingly high million reichsmarks. rate 1/8, the quotations being 214

rates of interest. Sir Frederick and 21 3/18 respectively. Silver advices reported India and China na having sold. There was a 1lt-

MESSRS, ROZA BROS.

Hong Kong, Dec. 17.

tle bear covelling. Steady. After the official fixing India and specu- lators sold for near and bought for forward delivery. American Silver was quoted at 45 for Spot.

The London-New York cross- rate

quoted at 4914. New York-London was quoted at 4.91 15/32.

was

MARKET Steady with very little doing. STERLING

was

The value of German importa went on to point out that if the during the month of November Chinese Government were able to 358 reichsmarks which is a finance part of this development slight increase over the preceding programme month, whereas 422 million reichs-loans the funds would be raised by means of foreign

marks of "German exports.repre- more cheaply and at the same time sent a drop of 10 millon reichs- the demands marks as against October- Transocean News Service..

SHANGHAI DOLLARS

on the domestic market would be reduced, thina enabling China to finance the Budget deficit proper out of real savings, The Chinese Customs loans have always been fully hon- Sellers at 103. buyers probably oured, and Sir Frederick belleves that they will continue to be so. Therefore it should not be dim- cult to improve Chinese credit to a polat at which recourse could ad- rantageously be had to the foreign

at 1034 for cash.

SHANGHAI MARKET Opened with sellers at 1/27 with There were sellers of Sterling business done later at 1/2 28/32 at 1/28. buyers probably at 1/2 for December, January and March. 13/32 for Spot U.S. Dollars, sel- The market closed at 1 pm with lers at 291, buyers at 29:9/16 for sellers at 1/2 December-March and probably April, with small buyers at 1/2 29/32 for any de- livery.

U.S. DOLLARS ··

No business was reported. There were sellers at 30 7/16 December April, buyers at 30% for any de-

cash.

NEW YORK STOCK EXCHANGE

(Through Renter's Service!

New York: December 17.

QUOTATIONS

New York/London Cross-rate New York Cotton-Biar, New York Bubber-Mar. Chicago Wheat -May Chicago Cors

-MAY Silver-Oficial

י

Dow Jones Averager

Amer. Radiator... 233 Amer, Rolling Mill... 344 Amer. Smelting 071 Amer. Steel Fdries.. 59 Amer. Sugar 55 Amer. Tel. & Tei... 1881 Amer, Tobacco "B" 964 Amer. Waterworks, ........... 254 Anaconda Copper . 324 Atchison T. & S. Fe. 717 Atlantic Refining

314

Last Today'ı High Low Close Close Change 1.20-3/31 4.91.15/19 ( up 18.40 13.97 13,33 13.39 unchanged 20.38 0.16 19.81 20.20 29 up

130) 198* 1901 190 unchanged 101 103

1851

Doo. 16.

UP

High Low Close Change 182 67 180.87 181,55 30 off 55.26 54,81 5448 ,04 05 36.58 34.88 34.28

Stocks

.01 off .03 off

CONSIGNEE NOTICES.

SERVICES CONTRACTUELS DES

MESSAGERIES MARITIMES.

CONSIGNEE NOTICE.

S.S. D'ARTAGNAN" 2*A/37.

BRINGING CARGO Frox MARSEILLES, via Ports, ets.

ARRIVED HONG KONG 08."- FRIDAY, TH 11m DRC4 1916..

ONSIGNEES are hereby informed that their goods with the exception of Opium, Tremaure and Valuable are 6 up being landed and stored into the Go- downs of Hong Kong, Kowloon Whart Godown Co., Ltd, Kowloon, whence delivery may be obtained immediately after landing.

last Shie

Dec. 1518

Great Northern Rly. 41} Great Western Sugar 30

Kennecott Copper - 801

391

19:

* * * * * * * * * *

**

********

€Ïofe7aa8

*8*******

********

***F*=**

€÷8¤¤×

1

All daime must be sent in to me on or before the 92nd Dec., 1938, or they will not

not be recognized. Damaged Packages will be examined. by the Company's Surveyor, Messrs. Goddard & Douglas in the presence of the Consignees at 10.00 am.on Thart- day, 17th Dec., 1936.

Consignees must have a Revenue Officer in attendance when any dutable goods are examined by the Company's Surveyors

No Fire insurance will be effected by us in any case whatever.

1

1841 104)

45

1936 *

so Industrials-"

20 Rails

90 Utilises

40 Bonds

11 Commodity Index 77.79

High Low Dec. 1. 18539 14311 181.97. 80.45 40.86 55.00 36.16 48.63 35,29 106.01 98.91 105.91 65,58 77.79

104.58 77.89 Business Dene:-1,980,000 shares.

Last Bale

Stocks Adams Express ............... Allis Chalmers... Amer, Can ............. 115 Am. Car & Foundry Amer. Cyanamid.... 34 Amer. & For. Power 71 Amer. & For. $7 pf. "571 Amer. Locomotive - 481 Amer. Melals......

Dec. 15 16 142 142

76

T 114

Holly Bugar Corpn.

Humble Ol...........

741

341-

Int. Nickel

"

Int. Tel. & Tel.

58

Int. Dept Stores

321

63 121 121

32

751 631

48

53

52

Lambert Corpp. ......

201

251

Loew's Inc.

64

341

Lorillard

221

951

McIntre Porcupine

581

McKesson & Robbins 451 45

561

Monsanto Chemical 994

991*

B. OHL,

Agent.

Montgomery Ward ..

68

90+

Murray Corpn.

Hong Kong. 11th Dec, 1938.

18

18+

26

527

Nat Cash Registor.

30

30

Nat Dairy Froducts 234

232

Nat Distillers 717

291 **

301

Nat Power & Light 11 12

Atlas Corpn... 16 Auburn Motors Baldwin Locomotive

$7 cum pf. Baltimore & Ohio... 22 Barnsdall Ol Bendix Aviation Bethlehem Steel - 754. Boeing Airplane -... 34 Borden Co. ............ 261 Briggs M'facturing 581 Brooklyn-Manhattan

17

New York Central

434

327

32

Niagara Hudson P.

*

Corpa.......

167.

161

231

93

North American

30

301

22;

Northern Pacific

· 27

221

22)

Pacific Gas & Elec. 371

384

Pacific Lighting

.501

7311

Packard Motors

11

101

34)

Paramount

211 21

201

Fennsylvania R.R.

401

404

581

Phelps Dodge

Phillips Petroleum

481

472

Trans

53

Public Service of NJ.49

481

Brooklyn-Manhattan

$8 cum, pí. Case, J.I..... Canadian Factic Celanese Corpn. of

America

Pullman Inc.. 631

641

134

102 1011 151 150.. 134

Pure Oll

181 191

Radio Corpn of Am. 114 Republic Steel·

111

29

291

Reynolds Tobacă "B" 581

58

713 141

524 43 1

Schenley 54% pf.

95+ 96

861

Sears Roebuck

971 961

Shell Union Oil

651

284 281

124

Socony-Vacuumi

154 15+

18

Southern Cal Edison 291 281

421 42

53

Stand Brands ..........

151 154

Stand Gas & Elec. 31

Stand Gas & Elec.

701

701

$T pi........

581

Consolidated Edison 451 Consolidated 011

444

87 671

141

151

717 704

Continental Oil

424

424

Swift International 921

317

Corn. Products

Technicolor.

697

698

22

221

Curtiss Wright (C.)

61

61

Delaware & Hudson Del Lackawanna &

Western Distillers Corpn Sea.

Curtiss Wright "A" 201

451

106 1050

201 46

Texas Guk Sulphur Tidewater Assoc. Oll Timken-Detroit Axle Transamerica

39$

391

191 201

4.

241 241

17

171

20th Cent. Fox Films

361

361

20th Cent. Fox Films

grams

264

261

pt.

40

451

Douglas Aircraft

731

721

Un. Carbide & Car-

Du Pont

bon

1801

1801

1037

1031

Electric Boat

121

124

Un. Pacifc

131.

132

Elec. Bond & Share

219

221..

291

281

Elec. Bond & Share

Un Airline Trans-

35 pf.

70

701

Elec. Bond & Share

$8.pf.

port United Corpn.

18 18

801

791

United

Corpn.

$3

Elec Power & Light Elec Power & Light

$7 pí.

221

25

cum. pl.

451

Un. Gas prover't

34

341

Un. Light & "power

Firestone Tire & R Fintrote

"A"

409

401

384

361

U.S. Industrial Alco-

fien, Asphalt Gen. Cigar Gen. Electric Gen. Foods Gen. Motors

· 50

401

201

391 394

521

521

US. Rubber

.......

461 .46

392

40

US Rubber $8 pl. 98

691

69手

US. Steel

771

781

Vanadium

531

53

26

29

Gen. Railway Signal Gillette Safety Razor Glidden

151

151

237

231

Warner Bros. Pict.... Westinghouse Youngstown

Mec. 1481

17€ 174

148

.14

131

& Tube

80 70%

341

-34

454*

84

841

National City Bank 387*

381*

1 ex. div.

281 281

Eid.

Call Money

1%

.1%

|

St. Joseph Lead Co. 261

Schenley

Cerro de Pasco 72 Certain-Teed P'ducts 144

Согра 87 Chesapeake Chesapeake & Ohio 85 Chrysler Corp. 1233 Columbia Gas & El 18 Columbia 8% "A" pl. 104

Southern Pacific 104. Commerciai Credit

Southern Ely 5% pl. 527 681 66 Commercial Solvents 18

181 Commonwealth & B 31 Commonwealth $8

cum. pl.

Gold Dust ..... Goodrich (BF) Goodrich $5 pf. Goodyear

FRENCH ARMAMENT LOAN OFFERED

Subscriptions In Gold

F

Standard On of N.J.

Sterling Products

United. Aircraft

C**==**

*88***@***

***=888*5*

3*********

Q **#*#*#*#*

Jeffafg

rite

-

**

**

**

*

⠀**Exfg

ætte

Sheet

Chase National Bk. 451*

888, 37 33 -

451

147

7

REICHSMARK RATES

Berlin, Dec. 18. Reichsmark quotations (without guarantee):

New York

40.23 Paris.....

885, Amsterdam...73.80 to 73.93 London

.......12.20 Feria Sterling 105.13 to 105.18 USA Dollar 2141 2142. Transocean News Service.

Paris, Dec. 16. The new French armament loan was offered for, subscription

Speaking over the Wednesday. radio the minister of Anance er- plained that "the needs of national defence are placing a heavy bur- den on France's shoulders under

pay gold be who can produce cer? the prevalling circumstances"

After appealing to all French-uncazes showing that they have. men, particularly those who, for surrendered gold. They will be various reasons hoarded gold. to worth 100 francs at the time of March-May, buyers at 1/2 15/16 mibscribe to the loan the minister issue and will be redeemable after for any delivery.

capital markets.'

IN THE AFTERNOON The market was a shade steadier in the afternoon:

U.S, DOLLARS IN STEBLİNG

Business was done at 301 for the Some business was done at 1/2 last week of January. The maar 29/33 for near delivery, finishing ket closed with sellers at 30 7/16 with small sellers at 1/2 28/32 December-April, buyers at 30 9/16 December-February and 1/21 for any delivery

expressed the hope the raising or 5 years at 140 francs which fact. the new loan would definitely it will be recalled," has caused terminate the financial aimelties French sceptics to remark that resulting from the devaluation of the new loan is putting a pre- the frane,

The new bonds will be issued of the franc

mium on the further devaluation

only to those who pay gold or who Tranences News Servic

CONSIGNER NOTICES.

CONSIGNEES' NOTICE.'

THE BEN LINE STEAMERS, LTD.

FROM LEITH, MIDDLESBRO, ANTWERP, LONDON AND STRAITS.

THE SS. "BENLEDI."

1

NONSIGNEES of Cargo are hereby Informed that all Goods am being Ianded at their risk into the baserdous and/or extra bazardous Gedowns of the Hong Kong and Kowloon Wharf and Godown Do, Ltd., whence and/or fram the wharves Delivery may be obtained. No Claime will be admitted after the Goods have left the Godowns, and al 19th Dec, 1836, will be subject to Rent. Goods remaining undelivered after the

All Claims against the Steamer must be presented to the Undersigned on or before the End Jan., 1937, or they will not be recognized,

To comply with the General Bonded Warehouse Regulations, consignees must have a Bevenor Oficer in attendance when damaged dutisble goods are examined

All broken, chafed and damaged Goods are to be left in the Godowns, whers they will be examined on the 17th Dec., 1936, atam. by Mears. Carmichael & Clark.

by

No Fire Insurance has been effected. Bill of Lading will be counterfgoed

W. R. LOXLEY & CO. (CHINA) LAD,

Agenta. 4875 | Hong Kong, 14th Dec., 1836, [4878

THE TAIKOO DOCKYARD & ENGINEERING

COMPANY OF HONGKONG, LIMITED.

BUILDERS OF ALL CLASSES OF SHIPS. BUILDERS OF RECIPROCATING STEAM ENGINES, BUILDERS OF MARINE AND LAND BOILERS. BUILDERS OF TURBINE MACHINERY

Under License From Messrs. Parsons. BUILDERS OF DIESEL ENGINES

Under Special License

From Messrs. Sulzer Bros., Winterthur. Licensed To Manufacture Lanz Perlit Iron, Specially Suitable

For Internal Combustion Engine Working Parts.

DOCK & SLIPWAYS.

FOR DOCKING VERY LARGE AS WELL AS SMALLER VESSELS,

ON ANY TIDE.

J

ALL CLASSES OF SHIP, ENGINE AND BOILER

REPAIRS AND EXTENSIVE

WELDING, BOTH ELECTRICAL AND OXY- ACETYLENE SKILFULLY AND PROMPTLY CARRIED OUT.

BUTTERFIELD & SWIRE, Agents,

HONG KONG, CHINA & JAPAN.

TEL. ADDRIL: "Taxxoobook," Hoxo Kono. TILAYA: 80211

CALL FLAG" NUMERAL Ösz "Ovær " Panxant ANS"

Pimples

invite Blood-Poisoning

AND

Ugly Skin Diseases

Disease germs abound everywhere, and the slightest pimple or skin sbrasion offers an open door to

infection. Use this simple unfailing Cuticura treatment to-day--to prevent blood-poisoning, to eradicate the beginnings of tosturing, disfiguring Eczema or other stubborn skin disease. Wash the affected part night and morning with Cuticura Soap and hot water. Dry gently and apply Cuticura Ointment. This dally treatment relieves itching and afkayı inflammation si once. The soothing, healing, antiseptic Cuticura - penetrates to the depths "of the enaption.” It destroys the lurking germs and poisonous matter which keep the disease active, it heals the festering sores,and steadily establishes a healthy condition of the ticin which leads to complete recovery, Facial pimpics and rashes vanish as if by magic.

5: ཻ ! བ『

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CLEARS THE SKIN

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