1937-04-24 — Page 13

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HAMBURG-AMERIKA LINIE

Far Eastern Mail, Passenger & Freight Service

Through bookings to America via Europe and Europe via America,“ Bookings around the world. — Through bookings to London

OUTWARD SAILINGS *.. "LEVERKUSEN" for S'hai, Dairen, Taku, Y'hams,

Kobe, Oraka...

*****............................ 3rd May, 10.7." HAVELLAND”..... for 8'bai., Dairen, Taku, Tsingtao,

Yokohama, Kabe..........

9th May. B... "ITAURI"................. for Shai., Daireo, : Kobe, Oraska,

Y'hama., "Moji........

17th May.

HOMEWARD SAILINGS am.v. "RHEINLAND" for M'lies, Antwerp, R'dam., H'burg 12th May. m.v. “ LEVERKUSEN " for Genoa, R'dam., Eamborg 31st May. 1. "PREUSSEN for Marseilles, R'dam., H'burg,.......14th Jane

+ Passenger Vanzol, • Limited Passenger Accommodation.

For further particulars and passage fares, etc, apply tę :--

HAMBURG-AMERIKA LINIE

JEBSEN & CO., AGINTS.

12, Fedder Street, Tel. 28363.

CANTON AGENTS: OARLOWITZ & CO., Shakee Road.

S.S." BENGLOE"

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

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

Next Sailing to MANILA

S.S. "BENREOCH"

1st May.

Next Sailing for SHANGHAI & JAPAN

“BENARTY ”

S.S.

8th May.

For Freight and Pastage apply to:-

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

York Building. Agents;

Tel. 22523

THE BEN LINE STEAMERS, LTD.

LINE

HONG KONG DAILY PRESS, SATURDAY, APRIL 24, 1937.

WORLD TRADE

Sir Josiah Stamp And

Chance Of Revival

Sir Josiah Stamp addressed the Leeds Pubilelty Club on April 8 on "The outlook for Foreign' Trade," and said that on balance the con- ditions were now set for" a reason- able revival. "

remove

NEW YORK STOCK EXCHANGE

New York: April 23.

(Through Renter's Service:

QUOTATIONS

New York/London Cross-rate New York Cotton-July Dec. New York Rubber-July Chicago Wheat July

-July Chiesgo Corn Silver-Oficial

Last Today's High Low Close Clos Change

4.93-15/38 4.94) 1/33 up 13.48 13,97 13.48 13.90 .17 off 13.17 19.97 13,16 · 17.97 .19 of 23.87 93 90 $3.49. $3.83 .19 of *1208 118) 1201 118 ∙11 off 117 118 1 of

1836/7 High Low Dow Jones Averages 194.40 143.11 So Industrial

84.48 40 66 20 Railr 37.54 28.3 20 Utilitas 100.01 88.92–40 Bonda

83.44 68,58

Stocks

183.60

81.03

April 82..

April 21. High Low Close Change 184.33 181.28 181.70 1.90 off 61.75 80.87 60.96 - 38 Off 31.33 30 40 30,53 .61 off

101.53 74.10 Business Done:-1,180,000 shares,

34.14 101.76 Commodity Index 78.31

38+

Amer. Can............. Am. Car & Foundry Amer. Cyanamid 301 amer. & For, Power 101 Amer, For. $7 pr. 601 501 Amer. Locomotive ...

55 Amer. Metals........ Amer. Radiator ........... 24+ Amer, Rolling Mill.. Amer. Smelting: .....". 91) Amer. Steel Faries. 554 Amer. Sugar

481 Amer. Tel, & Tel... 169 Amer. Tobacco "B" 83 Amer. Waterworks Anaconda Copper ...

58 Atchison, T. & 8. Fe. 85 Atlantic Refining

331 Atlas Corpn......... 172 Auburn Motors

327 Baldwin Locomotive

Restrictions, he went on to say, had reached such & pitch that there was a general revulsion of

the feeling against them; and psychological background was that of a genuine desire to return to conditions of greater freedom and, what was even more important, to take some risk for the principle | Adams Express and not to rely upon an exchang- Allis Chalmers Ing safety first method of cain for coln in rigid bilateral arrange- ments. The countries were posi tively tumbling over themselves

restrictions. Perhaps the facts would follow. On the side of actual physical conditions a number of new factors would bave an important bearing upon foreign trade in the long run. The removal of the surplus carry-for- ward of wheat signalized, together with other raw material advances, the disappearance of the grave disparity between one branch of a productive community' and the others, and of the depression that had so long meant bad debts for the past bad credits for the future, and low purchasing power in the present "for large sections of the world's economic life. Ability to pay their debts and also to borrow again with higher purchasing po- wer meant a quickening of the in- ternational exchange of goods, auch as we had not had for some time. A second feature was the new monetary experiment, start- ing with French devaluation. This might be indeed disappointing po- litically to the French, but it had

MAERSK LINE inaugurated the working of ex-

Fast regular FREIGHT and PASSENGER SERVICE

visk

Shanghai, and Japan

change equalization accounts to a „common alm. The trilateral agree; ment for the search for a new in- ternational standard must, on bà- lance, make for an improvement in foreign trade. The devaluation In France had brought into the common upward movement a bloc that had for two years past been moving in an opposite direction

mestic prosperity would assuredly increase the percentage of foreign interchange.

وا

1 cum. pf......... 1144 111 Baltimore & Ohio... 36 Barnsdall Ol Bendix Aviation Bethlehem Steel Boeing Airplane

26 Borden Co...........a Briggs Mfacturing 19 Brooklyn-Manhattan

Trans

Brooklyn-Mannattan

$6 cum pf. Case, J.I. Canadian Pacific Celanese Corpn. of

America Cerro de Pasto Certain-Teed P'ducts 197 Chesapeake

Corpn. 854 Chesapeake & Ohio 61 Chrysler, Corpn. 1218 Columbia Gas & El, 141 Columbia 6% "A" pr. 96 Commercial Credit 63

=*=*====*88*68*** *** **** * ** ******* ******* ⠀ ****

McIntyre Porcupine McKesson & Robbing 46 Monsanto

$13

DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE Sailings

Frealtons Liners' frequens säilings and their unique stoperer pelvilegon allow you to travel just exactly as you choose. And Doller Bisanship Linge suð American Mall Line -worldwide omoen ansi agenin are maintained to serve you'sebore in whatever plaen you chance to be. Make your next trip more enjoyable, travelling “The President Line way.

TO SKATILE, VICTORIA "THE EXPRESS ROUTE"

TO SAN FRANCISCO NEW YORK AND BOSTON

Via Shanghai, Kobe and

Yokohama

Fia, Shanghai. Kobe, Yokohama, Bénolulu. San Francisco, Panama Canal and HavaNA. Pres. Hoover Noon May 1st Pres. McKinley M'night May 7th Pres. Lincoln Fm. May 19th Pres. Grant M'aight May 21st Pres. Coolidge Neon June 3rd Pres. Jackson M'night June 4th Frex, Wilson Ba.m. June 18th Pros Jefferson Mi'night lune 18th Pres. Hoover Noon June 28th Pres. McKinley M'night July 2nd Frea. Cleveland M'aight July 13th Pres. Grant M'night July 16th

„EUROPE, NEW YORK

MANILA

THE MOST FREQUENT SERVICE

Next Salling"

9pm. Apr. 24th Bam. Apr. 25th Prea. Hoover 8am, May 9th Fres. Polk 8am. Apr. 25th Pren. Van Buren 8m. May 23rd Prox. McKinley 6.50 p.m. May lat Pres. Garfield, 8am. June 6th Pres. Pierde Bam May 9th 8 a.m. Jane 20th Pres. Lincoln M'night May 11th 6 p.m. May 15th 8. July 4th Pres. Grant

MOST FREQUENT SERVICE ON THE PACIFIC

DOLLAR STEAMSHIP. LINES

* AMERICAN • MAIL • LINE *

FIDDIK BUILDING-BONG KONG.

CANTON BRANCH -23, VAINOX CONCESSION, BEAMKEN.

CONSIGNEE NOTICES.

PRINCE LINE.

NOTICE TO CONSIGNEES.

FBOX NEW YORK AND LOS ANGELES

THE Motor Vessel

THE

"CHINESE PRINCE"

having arrived from the above Forts on 22nd Apr., Consignees of Cargo are hereby informed that their Goods are the being landed at their risk into Godowns of the Hong Kong and Kowko Wharf and Godown Company, Limited, Kowl, and stored at Consignees risk and sipense.

.21 off .55 of

Last Sale

Apr.

21 22

Stocks

191

187

Great Northern Rly. 54

Last Sale Apr. 21 22

531

8a..

Great Western Suga: 361

1017

101

Holly Bugar Corpn.

Humble Of.......... 824

824

297

Int. Nickel

63+

831

Int. Tel. & Tel....... 12+

121

601

Int. Dept Storea

291* 284

Kennecott Copper

891

691

Lambert Corpn.......

Via Manila, Bingapore, Penang, Colombo, Bombay, Suez Canal. Naples, Ganos and Marseilles. Pres. Folk

131

Prea. Pierce

Loew's Inc.

833 82

Lorillard

227

Pres. Hayes

.. 45..

Prea. Monroe

Chemical 90

1681

Montgomery Ward Murray Corp

60%

101

214 21

Nat Cash Registor 29

281

Nat Dairy Products 241

83.

Nat Distillery

321

Nat Power & Light 10 New York Centr 1 – Niagara Hudson P.

Corpn................ 121

101

50%

North Arherican ......

261

Northern Pacific Mi

347

Pacific Gas & Elec.

314

·304

Pacific Lighting

·488

£3+

927*

Packard Motors

101

Paramount

241

Pennsylvania R.R.

45+

Phelps Dodge

Philips Pétroleum - 584,

Public Service of NJ. 431

423

Pullman Inc. /..............................

Pure Oil.....

211

1671

1682

Radio Corp of Am.

102

Republic Steel .........

434

421

Reynolds Tobac. “B”, 50%

50-1

381

371

734

St. Joseph Lead Co. Schenley

454

Schenley 51% pf.

851

Sears Roebuck

DOL

891

Shell Union Olt

311

30%

Sorong-Vacuum

Southern Cal Edison

289

261

Southern Pacific

.83

Southern Rly 5% pt.

531

521

27.

Stand Brands ....... Stand Stand Gas & Elec.

141

Gas & Elec, 101

104

Consolidated Edison 39% Consolidated Oil Continental Ou

$i pf. Standard Oll of N.J. 701

60%..

864

Sterling Products ... 62.

467

Swift International 33 Technicolor

241

Texas Gulf Sulphur. $9

381

Tidewater Assoc. Oit 187 Timken-Detroit Axle 244 Transamerica

182

154

20th Cent. Fox Films 391

20th Cent. Fox Films

pi.

491

49号

Un. Carbide & Car-

153%

bon it .......

.100

148 147

Un. Pacific

United Aircraft

291

281

** PACT TERMS

Un. Airline Trans-

181

port

68 *

United Corpn.

United Corpn. $3

221

cum plesnigram

424

Un das Tprovem't 137

137

Un. Light & power

361

"A"

0.8. Industrial Alco-

381

bol ****

US. Rubber

651

644

55+

US. Rubber $3 pt. 1017.

100

'US. Steel

$21

50+

Vanadium

1154

114

Warner Bros Piet,

33+

251

Westinghouse Dec. 1434

33 1411

Youngstown

& Tube Skov 944

Sheet

47+

834"

431

441

Chase National BK. 59 * National City Bank 52 * Call Money

1% .1%

Bid

922 58.* 500*

LOS ANGELES, PANAMA, NEW YORK, BOSTON, The general improvement in do- Commercial Solvents 163

PHILADELPHIA & BALTIMORE,

If sufficient indicemeat offers also other ports of exil,

Arrivals from UB.A

28th April ...

Sailings to U.S.A.

"M.V. GERTRUDE MAERSK" 27th April

M.V. "NORDHAVET"

(All dates are subject to alteration without notice.) EXCELLENT ACCOMMODATION FOR PASSENGERS "AT MODEBATE RATES.

For Freight and Fassage please apply |--

JEBSEN & CO.

Canton, Shameen, B.C.

Tel. 10916..

PROFITS

Agents.

TAX

DEFENDED

Hong Kong, Fedder Building.

Tel. 28363.

REICHSMARK RATES

Berlin, April 22. The Reichmark was quoted, (without guarantee), at:-

New York, 40,22 London, 12.28

Commonwealth & 6. Commonwealth 50

cum. pr.

Corn. Products...... 713 Chirtis Wright (C) 7 Curtiss Wright “A” 21i Delaware & Hudson 201 Del Lackawanna &

Western

grams Douglas Aircraft Du Pont Electric Boat.

136

603

1644

227

Mec. Bond & Share 213 Elec. Bond & Share

$5 pt. ..... Elec. Bond & Share 69

$8 pl...

Elee Power & Light 221 Elec. Power & Light

RUSSIA AND GERMANY Two particular countries needed close examination their in- Auence. One at the most far-reach- ing economic changes in the world was the emergence of Russia into a really prominent position as a gold producer. It was

the one thing needed to give the Russian experiment

a really independent Distillers Corpn Bea. chance of showing what it could do. Germany, on the other hand, had been passing through a period of extraordinarily artificial con- ditions in relation to foreign trade. The idea that she had been really short of the power to import raw materials would not bear close ex- amination. They had been there in amounts comparable with pre- vious years, but had been diverted into her huge armaments pro- $7 pf. grammes instead of consumable Firestone Tire & R 363 commodities. Judged by ordinary Funtkote standards. her economie life had Gen. Asphalt been artificial and unhealthy and something would be bound to hap- pen soon. But it was just possible that Germany had established a permanent new method of econo- mic life under intense central control, which, provided the poll- tical stability remained, might be The growth of profits in some enduring. It meant a lower stan- those dard of life, sacrificed for a spe- especially among He said the Government did not cases, regard the tax as a form of pun-which had not succeeded from the cial consideration, but it did mean Ishment for profiteering. It was depression, would not be so large that the policy of intense nation-

as in instances, where firms start- alism might, if carried far enough... not directed solely against arma-

ed from a lower standard, he rea- be a stable one and antipathetic to ment firms.

lised.

the growth of foreign trade. Bo Mr. Chamberlain also referred far as Britain was concerned, our sympathetically to those shipping foreign trade would take some time companies whose earnings might to get back to its old proportions. not have been sufficient to provide so long as British savings were in for the requisite depreciation fund. the main wanted for special home'

purposes.

Contractors Not Over-Charging

London, Apr. 22.

Replying in the Budget debate,

Mr. Neville Chamberlain, Chancel-

Paris, 906.

Amsterdam, 13.45

Paris Pound Sterling 111.32 to 11138 Paris USA Dollars 22.535 to

22.54

lor of the Exchequer, strongly de- | Transnecau News Nervice. fended the Growth of Profits Tax principles and foreshadowed a fur- ther inquiry into the question of its machinery,

As a matter of fact, said the Chancellor, he did not believe there was any considerable amount of profiteering among the main con- tractors with whom the Govern- ment was dealing

SINGAPORE RAW RUBBER

Mr. Robert Morrison, at another He addmitted the difficulty in

stage of the debate, bad declared dealing with some hard cases and

that there was a total of 2400.000,- emphasised that where secrecy was essential it was not possible in ad-000 of Britishi, capital invested in vance to make every sort of in- rubber companies. They had had an exceedingly bad time for a quiry,

number of years and only now dis Mr. Chamberlain said his further vidends were beginning to mount Inquiries would be conducted with up. These firms, in some instan a certain elasticity so that he

ces, had only a clerk in the Lon- might conform to whatever came don office and it would be easy for to his notice regarding possible them to escape taxation by transceived dangers with respect to injustices ferring the clerk to Malaya, or from Singapore in Straits Currency or inequalities.

elsewhere, where he could do his for Raw Rubber: work as well as in London:

GROWTH OF PROFITS ·

He did not deny that there might

be something, sald for arms that

Mr. Morrison, had transferred

H.B. JOSEPH & CO..

Hong Kong, April 23. Messrs H. B. Joseph & Co., re- the following quotations

Three great companies, recalled

"Spot

May/June July/Sept. Oct:/Dec.

Buyera

394 Down 30 Down t 40 nach.

unch,

Market Irrégular Auctuating.

had done badly during the years themselves abroad when the excess

of the depression as contrasted to profit duty was imposed previous- the arms which had never sütter- | 1.---

ed materially during that era,

Beater

*** * *28** ** $58

Gen. Cigar Gen. Electric Gen. Foods Gen. Motors Gen. Railway Bigha! Gillette Safety Razor 281 Glidden ..................................... Gold Dustmen

421 Goodrich (35) ian 473 8321 Goodrich $8 på. Goodyear uniren

JAPANESE HOSIERY FOR U.S.

WORLD TRADE

INQUIRY.

407

All broken, chafed, and damaged Goods are to be left in the Godawas, where they will be examined on Wednesday, 28th April, 1997, at 10A.M.

All Claims must be presented within Days of the Yessel's arrival here, after

ter which date they cannot be re

Gognized.

No Claims will be wirgitted after the Goods have left the firvinna, and all Goods remaining undelivered after the 29th April, 1937, will be subject to Rent No Fire Insurance has been affected. Bills of Lading will be nenntarsigned

FURNESS (FAR EASTI, LTD,

2nd Floor, Hongkong & Shanghai Bank Building. Diala 23165 & 23160, Hong Kory, 22nd AprU,,1937.

(0219

INDO JAPAN TRADE

Modifications Made In New

Accord

CONSIGNEE NOTICES.

NOTICE TO CONSIGNEES"

OCEAN STEAM SHIP CO., LTD.

AND

CHINA MUTUAL STEAM NAVIGATION CO., LTD...

YONSIGNEES per Co.'s Vessal

"ATREUS"

FROM UNITED KINGDOM VIA SINGAPORE are haroby notified that their Cargo

Holl discharged into will be Wharf, Kowloon, where it will he at Consignees risk and subject to Terms and Conditions of Storage at Holt's Wharf The Cargo wil be ready for Delivery Irom Godown and after 21st April.

will not be landed

Optionece has been given prior here, unles

to Vessel's arrival, but carried on fram port, to port to the final port of call to which the option extánda.

All broken; chafed and damaged Goods are to be left in the Godowns, where they will be examined on any Tuesdays and Fridays between the hours of 10.45 and Noow within the Free Stonge period.

Goods bave left the Vessel's Godown No Claims will be admitted after the

and all Goods remaining undelivered after the 28th April, will be subject to Bent

All Claixos against the Vessel most be presented to the Undersigned on or before the 12th May or they will not be recognised..

No Fire Insurance will be affected.

BUTTERFIELD A SWIRR

Agents.

21st April, 1937.

[6210

CONSIGNEES" NOTICE.

-From LEITH, MIDDLESBRO', ANTWERP, LONDON AND STRAITS.

A statement detailing the terma THE BEN LINE STEAMERS,' LTD. of the Indo-Japanese trade pro- tocol, signed in New Dehl was is- sued by a spokesman of the For- eign Omce, in Tokyo, states the "North China Daily News." The protocol, the statement said, will remain in effect until March 31, 1940, and substantially reproduces the teams, at the protocol which expired last month.

The following modifications were, however, made in the new accord: 1. Japan will be permitted to ex- port to India 283,000,000 yd, of cot- ton piece-goods annually, in ex- change for the purchase of 1,000,- 000 "bales of Indian raw cotton. The exports of cotton textiles may, however, be increased to 358,000, 000 yd. if the purchases of Indian raw cotton are increased to 1,500,- 000 bales a year. ...

Tux 8.8, BENRINNES."

YONSIGNEES of Cargo hereby adored the woods woor

innded at their risk into the hazardous and/or fandans Godowns of the HONG KON AND KOWLOON WHART AND GoDOWN COMEARY, Lapa: whence and for from the wharves Delivery may be obtained.

No Claims will be sämitted after the Goods have left the Godowns, and all 28th April, 1937, will be subject to rent. Goods remaining undelivered after the

All Claims against the Steamer 'muri be presented to the Undersigned on er before the 11th May, 1987, or they will not be recognised

comply with the General Bonded Warehouse Regulations consignees must have a Hevenue Officer in ion- dance when damaged dubiable goods are examined.

2. The excess of exports of cotton textiles in one year which may be adjusted against the next year's New York, Apr. 22.

Paris, Apri 22. quota is raised from 20,000,000 10

All broken, akafed and damaged Gooda The hostery industry of the

Maurice Frere has been asked 25,000,000 yd.. ; .

ars to be left in the Godowns, where United States have signed, an. agreement with Japanese knitted by premier van Zeeland to make. The "coloured category of the they will be examined on the 26th Apr- good

preliminary preparations in con- previous protocol is sub-divided in 1987 at 9 am by Messen, Oarssichnel manufacturers whereby

& Clarke. Japanese

to nection with a world trade inquiry, the new document into "coloured No Fire Tourance has been effected. hosiery exported

printed" and "colotired dyed" of United States for the next three He told a representative of the woven goods, and the total quote W.R. LOXLEY & Co. (CHINA) Îzo, Bills of Lading will be countersigned by year will be limited to half a mil- "Intransigeant" that he had im is allotted between the various

Agenta Man dozen pairs.

portant consultations with lead-categories in the following percent Hong Kong, 21st April, 1987, 15709 Reuter.

ing business and. anance men in ages: plain greys; 140 per cent.; London and Paris, but that his bordered greys, 13 per cent shall not exceed 35 per cent. ad real task was just about, to begin bleached goods, 10 per cent

coloured printed goods, 20 per The task is not to prepare the cent.; and coloured dyed, or woven conference, but to gather date for goods, 17 per cent.

IN WIRELESS TOUCH

The following ships are expected to be in wireless communication the conference. It was not in- 4. The quota is exclusive of cot with Hong Kong Radio Station: tended to call the conference ton fents, but Japan undertakes to

President

Hoover, President now, since the Belgian Premier limit the exports of cotton fents to Jefferson, Empress of Asia, had no intention of calling: It | India to 895,000 yd. annuillymoti President Polk, Hakozaki Maru, before the ground work had been The Government of Tidla. the Pel An Arya Mar, Ceylon, thoroughly done

statement, greed that the General Sherman, General Lee.

customs duties on côftón tents

Transarean Femi Si

valorem.

The statement added that the notice of denunciation must be given by October 21, 1939. The convention regarding the commer clal relations between India and’ Japan will be withdrawn but it was agreed that it would continue to have effect for the period covered by the plutocbi.

1937-04-24 — Page 13

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Private Research Note