1937-03-23 — Page 12

#38

$13

Hon. Mr. J. J. Paterson,

T. E. Pearce, Esq., A. L Shields, Esq.,

V. M. Grayburn, Esq.,

Chief Manager.

Branches:- Iloilo Peiping Ipoh Penang Johors Bangyon

Saigon

Kuala

San Fran-

Bisco

Lumpur Shanghai London Bingapore Lyons Sourabaya

Sungei

Patani

Hamburg Muar Tientsin

(Johora) Tokyo

HARNEN

YOKOHAMA

(Peking) KAMBOANGA PENANG

HỒNG YONG BÀI COON

FOREIGN EXCHafan and General Banking Business transacted,

CUBRENT ACCOUNTS opened and FIXED DEPOSITS received for On Year or shorter periods at rates which will be quoted on applica tion.

The Bank's Head Office in Lon don undertakes Executor-& Trustee business, and claims · recovery of British Income Tax overpaid, on terms which may be ascertained at any of the Agencies and Branches.

A BREARLEY,

Manager.

Rate

1.40

1.35 1.45

39

44

40

+

371

26.

26

13.35 13.00 13.50

13.25

***

184

Unquoted

.... 271

25

28

138

Coco Grave***

*** 61 83

69

63

60

$112

Consol Mines

.039

039

.041

12

DAILY SHARE QUOTATIONS

Hong Kong Stock

Boyes?

Exchange

Valar GABELO

Sharebrokers' Association

Kominal

MONDAY. MARCH. 22.

Bellars

Banke

#16801

$1,600

ALIG

2157 L33

£15

187

$317

1630

---

$297+

$1.15

$300

"0"

H.A. Banks

bo. (London) *** Chartered Banks ...

Mercantile Bks. “A”

Do.

Bank of East Asia.....:

N. C. & 8. Barka

Insurances

Canton InsUYRIODĀ..

Union Insuranost ...... Underwriter

H.K. Fins................

{International Assos, J.

Shipping

Dougionow

Steamboate

***

122

HONG KONG DÀILY PRESS. TUESDAY, MARCH 23, 1937.

H. K. STOCK EXCHANGE

AND

H. K. SHAREBROKERS' ASSOCIATION

fi

Philippine Gold Mining Quotations

$1,800

£118

BIS

£32

RIDI

་་

195

Antamoks

Atoka

$315

18311

$1.20

$296

Baguio Gold

www

Benguet Consol

Bonguet Explor

Big Wedge

20th Mar.

"B. &

22nd March, 1937

Time Received

clos.

Closing 8.43 0.43 9.09 10.06 10.32 10.37 10.55 11.14 2.39 2.47 3.14 3.35

for

J

BANKS

AUSTRALIA AND CHINA Incorporated by Royòl Charter, 1847

HONG KONG AND SHANGHAI | THE CHARTERED BANK OF INDIA

BANKING CORPORATION

Authorised Capital ***** $00,000,000- Issued & Fully Paid-Up. $20,000,000 Reserve Funds;---

Sterling

...£6,500,000

Hong Kong Curranay

Reserveer ser $10,000,000

HEAD OFFICE: LONDON.

Paid-up Capital Reserva Fund

£3.000.000

..................... #$%000,000

Reserve Liability of Pro-

prietors...

£3.000.000

Agencies and Branches----

ALOR STAR ILOILO AMBITSAR BANGIDI

BATAVIA

· Chairman. | BOMBAT

KLANG XORI

CALCUTTA KUALA

CAWNPORE CIBU

COLOMBO

BALOON

TAIPING

Reserve Liability of

Proprietors

$20,000,000

clos."

3,62

Head Office:-HONG KONG

IPOH

BEMARANG

Board of Directors.

KARACHI

BEREMBAN

-

1,30

1.25

1.30

G. Miskin, Esq.,

SHANGHAI

40

301

38

SINGAPORE

96

25

M. T. Johnson, Esq.,

KITIAWAN

13.CO

12.75

Deputy Chairman CANTON

LUMPUR

BOURABAYA

J. K. Bousfield, Esq.,

+4

12

261

26

U 25

A. H. Compton, Esq., Hon. Mr. 3, H. Dodwell,

KUCHING MADRAS

MANILA

TIENTEIN

TONUKAR

50

N

BB

J. R. Mason, Esq.,”":

DELKI

MEDAN

(Bhuket)

038

C035

.033

$35

Indos (pre)

$36

Demonstratious

88

84 -

88

H

$36

Do. (def.)

138

134/4

Shelia

134/44

E. Mindanao

31

31

34

30

101

Waterboats

$10

G. Goldfielda

** 24

*

25

23

£3,

N

-

Mining

19/6

Kailana -

Itogona

1.35

1.30

1.40

1.25

1.20 1,20

19 8

Haus............ $13

I. X-L

1.35

1.40

1.30

1.25

SA

Venczucia Qurd Fid] 16.10

Masbates

40 49

40

41

30

38

Docks, Wharvas,

Min. Resources

35

35

36+

34

34

34

33

granaggi

..037

K. S. Morrison, Esq.,

HAIPHONG

NEW YORK

ZEZWOTAS

HAMBURG

PRIPINO

79 80

HANKOW

99

291 31

21 99

-

1.25 1.20

1.30 1.30

30 -37 381

Amoy

Bangkok

Godowns, etc.

Northern Mining

12

11

13

11

THE

101

Batavia

3114 $2.20 32.30

131

$118

H.K. & K. Wiɛarvon.

$114

Paracale Gumaus

65

6o

71 84

03 60

Bombay

Kobe

Providents (old) ........] 22.50

Calcutta

- Kowloon

San Mauricio

270

9.5A 270

2.85

2.60 3.55

2.50

2.45 2.40

9.45

20 ets.

Do. (new)

Canton

30.ote

alt

་་

H. & W. Docks

+31)

Suyod Consol

41

44

"41

401

38+ 381 37 38).

Chefoo

Sius

Shangaal Docks S.

#101

United Paracales

92

80

96

91

90

80

83

$7

Colombe

Now Engineeringes.

$3

Dairen

Lands, Hotels, padl

Market Comment.

S

Uncertain

ន

S Eier E E

E D

W. V.W. S'dier

ន

Foochow Malucos

Haiphong Manila

Bulidings

$7.30

1351 $38036

17.30/35

H.K. Hotels

$7.30

H.K Lands.....................ŏ..

$36

H. K. STOCK

#105

Do. 4% Debentures 102,

118

Shanghai Land....

JJG

Metropolitan Lands..

$5,80

H.K. Ksalties...d

50.AB

$4

China Donat

160

Do. "Debenturess.

บ

Humphreys

#76

Chinese Extates....

Ew

Cotton MilL

B'hai Cottons(old S.

Do. (new3.

Zoong Sings

Lates

Wing Un lustilen (S.)

Pablo Utilities.

315

310

Posk Trams (old).....|

44

31

Da.

(now)...

3881

Star Ferries

1881

Yaumati Ferries ...

120

$1470

Chins Lights (old)... 114 €5 $14.80 $132

B11.70

Da (new)...

111.70

HK. Electrica .....

$58

120

Macao do.

Sandakan Light...

Do. (new)...

Tolephones (old).01.30

+30

China Busug .......

27/0

Tractions LINK

18/

Union Insurances, $830. Underwriters, "$1.20.

Yokohaina

Belgrade

17/-

Do. (prel.).......

HK. Fire Insurances, $297). Douglases, $30

Monte Video

Rlo

H. K. Wharves, $114.

Bucharest

จ

Providenta (old), $2.20,

Silver (Forward)

$2

#1.70

Raubs, $13.

$14.70 $14.85 14.60, 65

$14.00

H. K. Hotels, $7.40.

L

$4.85

'H. K. Lands, $354

HK Trams, $153,

127

Dairy Farma

a d

8271

Peak Trams (old), $4.

$44 $1.60

Ch. Etainments......

4,60

o d

China Lights (old). $14.80.

$5 ctá. $8,20

$81.

33

25.00

40.65

207

19.00

8. C. Enterprises

$1

967,

pren.

pr m❘ li

H.K. Govt, 4% Loans

Do.

x

Watsons, $5,85,

$108

312

Lane, Crawfords.. $9.

1101

રા

Ewo Cottons, Sh.318.30.

360

B.K. Wing O......

186

Shad Do.

374

Vibro Piling............

EXCHANGE

YESTERDAY'S

OFFICIAL

QUOTATIONS

The market opened firm with buyers predominating. There was a scarcity of shares however which made business dimcult, Docks improved following upon the Underwritera Chairman's speech. came to life after a long period of neglect and are wanted at $1.20. Manila market closed steadier. BUYERS Hong Kong Banks, $1850, Bank of East Asia. $87.

Canton Insurances, $317.

Milan

Shanghai New York Amsterdam Vienna Prague

Brussels

LONDON EXCHANGE RATES

(British Wireless Service)

Hankow

Harbin

Mar. 18.

108-7/16

Paris

21.451

Geneva Berlin

12.149

21.45 12.141

Athens ***-•yṣ*•*-

92-13/18

92-13/16

Copenhagen

Stockholm

$16.30 3118

393

120

Tramways... 14.00 15.10

Industrial

$16Caldbeck, Hardy) B.

Macgregorf(praf,)8.

Canton Loss

Cemente Ropes......

Miscellaneous

Constructions, (old)

Do.

(209)

Lans Crawfords..... Nanyang Tobacco.,

Rinceres ............ Watsons...

CLG. 521925 G.Bd.

Wallsce Harper

•Sales to Shanghai

THE EXCHANGE +

MARKET

MESSRS. ROZA BROS.

Silver prices dropped 3/16 over the week-end for both deliveries,

149

$18.46 $118

#90 $30

56%

EXTRA MANILA CLOSING QUOTATIONS |

Hong Kong, Mar, 2. Extra Manila closing quotations ngures kindly supplied by Messrs. Ellis and Edgar.

the quotations being 20 9/16 for Acaje Mining Ready and Forward. Silver ad- Angelo vices reported China and specula- Dulong tors as having sold. India bought. Gold Creek The market closed steady...

The London-New York cross- rate was quoted at 488.45. New York-London was quoted at 488.- 11/32.

MARKET Steady but very quiet.

STERLING

There were sellers at 1/2 29/32 March-October, buyers at 1/2 15/18 for any delivery. No trans- actions were reported.

・・・U.S, DOLLARS

A small business was done at 30 3/8 for March delivery. There were sellers at, 30.3/8 March and

30 5/18 April-July, buyers at 30

7/16 March-April and 30 3/8 May- July,

י

SHANGHAI DOLLARS

·Business was done at 101 15/18. for cash. There were sellers at 101 7/8. buyers at 101 15/10 for cash.

SHANGHAI MARKET There were sellers of Sterling at 1/2 5/8 March, buyers at 1/2 21/32 cash. US. Dollars, sellers.

At 29 3/4 March, buyers at 29 13/13 for cash.

Ipo Gold

H. K Electrics, $59. Sandakan Lights, $111.". Telephones (old), $304. Telephones (new), $12.36:

Cements, $15.05.

H. K. Ropes, $4,

S'hai Cottons (ald), Sh.$118. S'hai Cottons (new), Sh.$93. Constructions (new), 45 cts.

SELLERS

H K. Steamboats, $104. Union Waterboats, $10.

Providents (old). $2.30.

H. K. Lands, $36.

H. K. $15.30, Cements, $15.10. Dairy Farms, $27:

SALES

Hong Kong Banks, $1850/1860.

H. K. Docks," $32.

H. K. Trams, $15.10/15. China Lights (old), $14.80, Cements, $15.10.

Demonstrations, $1.37.

March 20 106-25/64

4.88-11/15 8.931

4.884 8.92

140

Madrid

Lisbon

Hong Kong

Bombay

Montreal

+4.881

20.001

29.01

4.88

Silver (Spot) War Loan

Un London:—

Hongkow

Mukden Tsingtao

New York Yokohama

Current Accounts opened in Local Currency and Fixed Deposits received for one year or shorter periods in Local Currency and is, Sterling on terms which will be quoted on application.

Also up to date' Safe Deposit Boxes in various sizes To Let. Hong Kong, lit March, 1997.

HONG KONG SAVINGS BANK

HE Business of the above Tanks conducted by the HONG KONG & SHANGHAI BANKING CORPORATION, Rules may be obtained on application.

For the Howe KONG & SHANGMAI

BANKING CORPORATION.

V. M. GRAYBURN,

Chief Manager, Hong Kong, 1st March, 1937.

201

201

20-9/16 20-8/16

34% 1024

BANK OF EAST ASIA, LIMITED.

Closing Quotations

March 22. 183.

Telegraphic Transfer... 11/5. Bank Billa, on demand 27/3% Credits four months'

night

ON NEW YORK:-

Bank Bills, ou "demand 30 3/16 Credita, 60 days' aight. 30 9/16 OX BATAVIA:-

On demand HOW Parts:~~

* B47

Bank Bills, on demand 657 Credits, 4 month's sight 087

ON BALGON:--

On demand

ON MANILA:

1/a 1/8

ON SHANGHAI:-

On Demand

101

ON SINGAPOR" :----

On demand amman kan

521

On JAVANI-

!!

ON BANGIOK :———

On demand

108

On India:

Telegraphic Transfor...

Jell

Baak, on demand...

On demand.

On demand

Soversions Bank Baying

Hata

BAR BILVES, por o

83-9/16

Authorised Capital #10,000,000.00 Paid-up Capital Reserve and Undivided

Profits

5,596,600,00

"THE_CHASE BANK QUEEN'S ROAD, CENTRAL.

HEAD OFFICE:

18, PINA STREET,

NEW YORK

An American Bank offering com

plate Foreign Banking Berrios in the principal Markets of the

Interest Rates on Application.

SAFE DEPOSIT BOXES

world.

*

This Bank is entirely owned by.

THE CHASE NATIONAL BANK, New Yonx, with Resources over U.S. $2,027,000,000,00

D. M. BIGGAR,

Manager.

THE YOKOHAMA SPECIE BANK

LIMITED

Capital (fully paid up)"

Yen- 100,000,000 00 Reserve Fund ..... Yen 139,650,000,00

HEAD OFFICE: HONG KONG" No, 10, Des Voeux Road, Central.

HEAD Onia:-YOKOHAMA

BRANCHES AND AGENCIES AT: .............................. 2,776,723,70 | Alexandria Honolulu Rangoon

Bangkok Hsinking Bio do Batavia

Karachi Janeiro Berlin Kobe San Bombay

Francisco

Board of Directora

Sir Shousen Chow, Chairman Li Koon Chan, Esq. Li Lan Sang, Esq. P. K. Kwok, keq. Wong Chußon, Esq. B03/18 Wong YunTong, dag. Kam Ying Po, Esq.

Chan Ching Shek. Esq.

Kan Tong Po, Esq., Chief Manager. Li Tse Fong, Esq.; Manager.

Branches and Agencies 2-

1497

*... 1/23/2

20 9/te

Amoy "

Kowloon Pinang

Bacaria

SLOW

Bombay

Saigon

Chooti

Cactus

Melbourne Ban Pran Wagasaki

Halphong

Bankow

New York deacide Deska

Avoid Slump By Avoiding

A Boom

London Bayoon Mandia

Testals Tokyo Yahoouver Shanghal Yokobus Pulping Singapore

Honolulu Paris

Kobe

Every description of Banking End Exchange business transacted. "granted on approved

"We can avoid a lump only if, round the corner would no longer Loans

we take steps to avoid a boom," starve quietly. declared Dr. J..A. Bowie, Principal

1937 AS FEAK YEAR Discussing the question

securities.

Current Accounta" opened in of th School of Economica, Dun-

of Local Currency and Fixed De dee, when speaking in Edinburgh. whether we were in a boom to posita. received for one year or Local and shorter periods" in One of the two great tasks of day. Dr. Bowle said there were

Foreign Currencies on terms which this generation, Dr. Bowie want many false indices, but certain will be quoted on application. on, was the creation of some form general. Indices agreed that since

our | 1932 there had been a steady im- |

provement in industrial activity. accompanied by a fall in unem- ployment.

£12,000,000 Scheme of conscious control over

H. K. Hotels, $7.40.

E.M. D.I.

H. K. Lands, $36.

Associated. Mines

.00%

008

.195

.19

.135

.13

.165 .151

235 .23

.25

25

Gold River Mother Lode

.075

.071

Unq.

Paracale Gold

.23

.23

Salacot

.06

.06

To Be Shelved

Batong Buhay

018

.027

Universal Expl.

32.

301

Dayaka

22

.23

Crown Mines Mambulao

I understand, to sheive the £12,-

17

17

Syndicate Invest.;

.11

.101

Tinagao

23

23

dent...

Santa Rosa

.06

.06

Mine Operations

IN THE AFTERNOON

economic destiny.

Not only were the fluctuation of the trade cycles now, more violent, but we were to-day learning to

A decision will be taken shortly.look on them in a new light."

He would be inclined to say that the historian looking back, would

We used to expect the unfor- fix 1937 as the peak of the boom, 000,000 Charing Cross Bridge tomate in the time of slump to followed by a plateau period, and scheme again--this time for several starve if need be, but men who then a definite recession in 1998. years, writes & Home Correspon knew that abundance lay just

%

The market was dull in the labour during the present boom. afternoon. '

The main and immediate cause of this ebb and now of trade, he thought, was the wide variation In the amount of resources devoted to investment werde har f

Safe Deposit Boxes To Let

KAN TONG PO,

Chief Manager..

SINGAPORE RAW RUBBER

Buyers

'....

8. B. JOSEPH & CO.

Hong Kong, Mar 20 Reasons for this decision will be .10 Easy. Closed similar to those which have led to

Mesars H. B. Joseph & Co., re- more welcome, it is thought, when Govern- of the steadler, reconsideration

ceived the following quotations ment's 22,700,000 Whitehall re- the expansion in other directions

ADVISING: THE GOVERNMENT · is exhausted, and money and

from Singapore in Straits Currency building scheme, namely:

labour are again available for To curb a boom, and so avold for Raw Rubber or obtaining sanciens major public works.

a slump, we needed a conscious "Dimculty of

plan by which the supply of SHORTAGE OF STEEL

money could be cut down when' Shortage and high price of steel, caused by the defence programme. The shortage of steer would: it is business starts to bolt and now To lesser degree, considerations of pointed out, greatly increase the money poured in when it stag- original estimated cost of the new materjal oli i palet, plaka defence.

Questions affecting economic bridge. Already plans are in hand The usual juggling with the policy also arise. It is felt undesir for building a Thames tunnel tur-rate of interest was a clumsy wid able to undertake a scheme cost-ther east, which will absorb a dangerous weapon, and direct coti- ing so many millions at a time, great deal of surplus London trol of new issues was likely to council to advise the Government Bellers at 30 3/8 March and 30 when anxiety is being expressed labour. The Government's new be more effective, and the business communi 5/18 April-July, buyers at 307/16 about the end of the present Whitehall ances, when started Finally, declared Dr. Bowie, wo the successive steps to be taken to

needed".a Dermanent economic stabilise economic activity. March-April and 30,3/8 May-July. "boom. The scheme would be upon, will involve still more men.

IN STERLING

No bustness was reported, finish- ing with sellers at 1/2 29/32 March-October, buyers at 1/2 15/16 for any delivery,

U.S. DOLLARS

Spot April-June July-Sept. Oct.-Dec.

Market:-Quiet,

414 Down 4 411 Down i 42) Dówn 424 Down,

to

Calcutta Los Angele:Seattle' Canton

Dairen

London

MapilaTM

Moji

*

Semarang Shanghai

(Dalny) Nagasaki Singapore

Fengtien Nagoya

(Makden) New York Sydney.

Hamburg. Osaka Hankow

Harbin

Otar

Paris

Soersbays

Tiontain

Tokyo

Tsingtao

Hong KongPeiping Yinkow

Interest allowed on Current An- Dounts.

Deposite received for Fixed Periods at rates to be obtained on application.

Y, KANO.

Manager. Hong Kong, 10th March, 1937,

NEW H.Q. FOR GAS INDUSTRY

Company's 125th Year

Mr. Walter Runciman, President of the Board of Trade, Mr. W. 8. Morrison, Minister of Agriculture, and Captain Crookshark, Becre- tary for Mines, were present at a huncheon in London recently to celebrate the opening of Gas In-: dustry House, Grosvenor-place.. The occasion was also the 125th anniversary of the founding of the das Light and Coke Company.

Mr. Runciman said that "there was no industry in the country which was better jfided in hav- ng handsome head quartera. Gas Industry House represented the unity of spirit which pervaded the whole of the industry. There was one thing of which they could be certain and that was that the knowledge, skill and enthusiasm of the Industry, were not confined to capitalist concerns, but were shar ed equally with the local authori- ties, who were in very close touch with the small consumer.

I am vitally concerned," he con-

tikusd, “because of the 17,0000,000) tons of coal which the industry turns into gas each year.".