1937-09-15 — Page 12

12

DAILY SHARE QUOTATIONS

Hong Kong Stock

Bayalle

Exchange

TUESDAY,

SEPT. 14.

Banka

$1,630 H.K. Banks £1

2331

215

$101

Sharebrokers'

Association

Do. (London) .....! Chartered Banks... Marcantile Bks. "A"

Do.

Bank of East Asia...)

N. C. & S. Barka

ciler-

*:*:

1,070 2941

..

215 $83%

324

Insurancea

ROU

Canton insira 1394...

$297

Isto

Union InsuranZJ8..........

12

Underwriters

1600 14.

1220

1.K. Fires...

$280

$3

International Asure, 1.)

Shipping

Douglas

$49)

38

Steamh sta

181

ID!

Indo-Chins (pref.)

331

$42

Do.

(def.).

147

105/-

Shell-

$9.20

Waterbosta

$9,30

Mining

17/0

Kailang

$11

73

Vervozano Gold Fids #4.30

$120

13)

Gadawns, etc.

い

031

(New Engineering S

$6.90

$341

Eu cta.

Docks, WharvOR,

H.K. & K. Wharvae.

Providents (okly ...| (new) Do.

$39.8.K. & W. Dock

$168 Shangaal Docks 3.

$126)

'6 10

{Lands, Hotels, and

Buildings

H.K. Hotel

II.K. Lands.......... 0.4% Dabentures

Shanghai Lande...S. Metropolitan Landa.

H.K. Realties.........|

China Du

Do. Debentureas.

Humphreys

Chinese Estate |

Cotton, Mills

$13.60 Ewux

S'hi Cottonsfeld).

butnerS.

Zing Stup...... Wing On Tertiles(S.) Ewo Cotten is. S.

Pablle Utiliti

*

$1

160

190

alt;

34.

H.K. Electrica

**

40*

::

HONG KONG DAILY PRESS. WEDNESDAY, SEPTEMBER 15, 1937.

THE EXCHANGE

MARKET

MESSRS. ROZA BROS

Sliver prices dropped 1/18 yes- terday for both deliveries, the quotations being 19 7/8 and 19 13/16 respectively. Silver advices reported India as having sold. Speculators bought. A small busi- ness was done. The market was steady. American Sliver was quot- ed at 44 3/4 for Spot.

The London-New York cross- rate was higher at 495.20, New York-London was quoted at 495.- 3/18:

MARKET

Steady with no business pass-

ing.

STERLING

There were sellers at 1/3 Sep-

15/tember. 1/2 31/32 October-Decem- ber, buyers at 1/3 1/32 Cash-Octo- ber and 1/3 November-December. U.S. DOLLARS

16/0 311.45

There were sellers at 31 Septem- ber, 30 15/16 October and 30 7/8 November-December, buyers at 31 1/18 Cash. 31 15/16 November-December."

SUB

$2.20

150 ou

W

STOS

$3

16.65

135 $102

$5.90

it

..

324

190

#34

140

October an♬ · 30

SHANGHAI DOLLARS Nominal at 104 1/4.

19

SHANGHAI MARKET Early advices indicated sellers of Sterling at 1/2 27/84, buyers at 1/2 7/16 for Spot. Later advices indicated the market being easier with sellers at 1/2 23/84. buyers at 1/2 25/64 US Dollars. opened with sellers at 29 23/32 buyers at 29 3/4 for Spot Later advices indicated sellers at 29 5/8, buyers at 29 11/16 for cash.

IN THE AFTERNOON The market in the afternoon was quiet.

STERLING

There were sellers at 1/3, Sep- tember-October and 1/2 31/32 November-December, buyers at 1/3 1/32 Cash-November and 1/3 De- cember.

U.S. DOLLARS

Sellers at 31 September, 30 15/16 October and 30 778 November- December, buyers at 31 1/10 Cash. 31 October and 30 15/16 Novem- ber-December.

H. K. STOCK EXCHANGE

· YESTERDAY'S OFFICIAL QUOTATIONS

148) Tramway

$14

..

Pork Trains (izhi) .....|| 35

Dv. dow... 124

18

Star Furrica

185

$27

Yagmati Furries...

$27

$13.00 China Lights (old)...|

13.70

Do.

(now)...

$131 13.30

189

184

Macan do.

1:45

judakan Lights...

120 60

Telephones old).....

329.10

$1.60

Lu.

(new)

$ 1.3J

Chins Bunes ......S.

/ 23/9

fractions

S4/

207-

Do. (pref.).......

Industrials

SIB

Guldbeck, morda m

$17

2

Maagrogors f(prof.)S,

Canton Icas

$15.10 Coments

16.

3015

Kopes

16.20

3202

Dairy Fartas..

ส.มด

Ch. Etainmenta.....

$1.60

Constructions, (old) $1.60

$201 $4,80

$1,00

Da.

A$

30.05

Lane Crawfords..............

38,50

Nanyaug Tolaceo...

$8.90

12.00

Fincares

$91

$5.40

Watsonsta

$6.35

S. C. Enterprives

#

Peak Trams.....(Old), $5.

977,

CL.G.61925 0.4 Bd.

95%

prem%

H.K. Dart. 4% Loans!

11001

Wm. Powell, Ltd 40 cts.

prem.

Do.

31%

tú

Wallace Harper

$101)

Constructions (Old), $1.60.

H.K Wing Go

$05

Shai

3100

14

$4.90

22/0

3/+

H

40 ctal

14 ta

Miscellaneous

Do

Vibra Piling

Maremaus Liv. (Lua.) (HK)

Wm. Powalla

•Sales to Shanghai

LONDON EXCHANGE RATES

Paris Geneva

Berlin

Athens

Milan

Copenhagen

Stockholm Shanghai

New York: Amsterdam

Vienna

(Beitleb Wireless Service)

Sept. 11. 138-37-84 21.53 12.321

Aug. 13 130-19/32

94

21.553

12.34

94-1/16

·4.94-9/18 8.99

Prague

1413

4.051 8.998

1412

'Madrid

Lisbon

Hong Kong

Bombay

Montreal

4.94-9/10

29.364

4.95$ 29.401

Brussels

Yokohama

Belgrade

Monte Video

Rio

Bucharest

Silver (Forward)

Hilver. (Spot)

War Loan

Da Lonnontie

197 19-15/16

19-13/18 197 100-3/18

Closing Quotations

September 14, 1937.

Telegraphic Transfer...

ON NEW YORK:—

Bank Billa, on demand 20A Oredite, 60 days ago

Bank Bills, on demand 1/2 ON BATAVIA:

Oredit four months'

sight

On demand ON PARIB:-

Bank Bills, on demand 865 Oredite, 4 month's night 905

ON FAIGON :-

1/24

OM SHANGHAI --

On Demand

1083.

OT SEEGAPORE: --

Co demand

On demand

621

ON MANILA-

OD JAPAN:-

On demand

On demand

ico

OF BANGKOK :-

The Transfor

Bank. on demand...........................

81

On demand a semana 1499 Boversians. Bank Buying

Rais

Teks. I/3 1/18 BAT BIGVIE ĐẶT Đại min 195

The market was quietly steady,

BUYERS

Douglases, $481 Indo-Chinag (Def.), $43. Union Waterboats, $9.30. Chinese Estates, $90.

Peak Trams (New), $24.

Constructions (New), $1. H.E. Gort. 31% Loan, 14% Frem.

SELLERS Marsmans (H.K.), 3/-

Royal Aeronautical Society Awards

Among the awards recently made by the Royal Aeronautical Society is that of its Gold Medal to the late Mr. J. de la Clerva, for his work on the development of the Autogiro. The

Society's

Sliver

Medals have been awarded to Mr. F. W. Meredith and Mr. P. A. Cooke for their work on the Automatic Pilot. The British Gold Medal for Aeronautics has been awarded to Mr. A. Gouge for his achievements in the development of Eying boats, while Bimma Gold Medals have been awarded to Dr. H. J. Gough. F.RS.. and to Mr. W. A. Wood for their paper "New Light on the Strength of Materials Afforded by Modern Physics."

THE FAR EASTERN

STRUGGLE

Has Japan Achieved Any

Useful Objects?

In this article, the Chinese **Malaya the Correspondent of Tribune".makes a survey of the war that is now raging, and its effects on the combatants.

With

BANKS

HONG KONG AND SHANGHAI THE CHARTERED BANK OF INDIA

BANKING CORPORATION

Authorised Capital 850,000,000 Issued & Fully Paid-Up #20,000,000 Reserve Funds:-

Sterling

Hong Kong Currency

Reserve

how Japan has so fär exploited Reserve Liability of

"inciderits" in China. and it is dmcult to escape the Impression that there is nothing to prevent the Japanese from creating "in- cidents" elsewhere so long as the opportunity of doing so exists.

How far has Japan succeeded in her expansion campaign in China?. To begin at the beginning. I will

A TRADE MONOPOLY? deal first with Manchukuo. Years China, though she is becoming have rolled by since Japan's “an- more and more industrialled, Is nexation" of "Manchuria, and so still, and will for a long time con- far, we have heard little, of con- tinue to be, a vast outlet for many ditions obtaining there. It is one, manufacturing countries "Is the monopoly of that market Japan's thing to annex a territory; another

aim? to subjugate its inhabitants.

One finds it difficult to think otherwise, and the easiest Japanese officials occupying high posts in the Manchukuo regime. way for Japan is to endeavour to the dearth of news from that area annex as large an area la China Is to be expected. Indeed, those as possible, so that, at least, in who are following the trend of Far that particular sphere she can Eastern affairs are quite surprised adopt a monopolistic polley in

trade. at the absence of propaganda, and the only conclusion that presents Itself is that in Manchukuo the Japanese must be having so much to contend with that they are denled the opportunity of doing propaganda work.

RESULTS OF INVASION The Shanghai War of 1932 has had but two salient effects. It aggravated Sino-Japanese relations and it contributed to a large ex- tent to the attainment of unity within Chinese borders.

Coming to Peiping, what good has accrued to Japan from the hostilities there? Practically noth-

Ing: on the contrary, the fighting

In the North has greatly improved

the morale of the Chinese troops stationed in Pelping and at varicus points around that city.

Shanghai Is. for a second time. the theatre of the Sino-Japanese

war.

Both sides have suffered heavy casualties, and there must

be great disappointment in Japan. for her troops were expected to fare far better.

i.

While waging-an-undeclared war against her admittedly weaker neighbour, Japan has unconscious- ly urged the world to watch with concern the trend of events in the Far East. By her ruthless bomb ing of Chinese cltles and the re- sultant destruction of civilian lives, she has earned the disgust of the nations. The Powers, whose friend- ship Japan has in the past en- Joye are not likely to continue their friendly attitude towards her Indennitely. Japan's high-handed actions in China, especially in those

cities where other powers have substantial vested interests, have

Her chances of success in such a venture are slender in the extreme. Arstly because China has now a united front to present and second- ly because the others interested in China trade are not likely to sit still.

J

War is a costly affair, and Japan's economic instability will be very much worse it she con- tinues to incur heavy expenditure on "expeditions" carried out under the Eulse of "protecting her nationals."

I have heard the opinion express- ed in certain well-informed circles

that the fall in Sino-Japanese

trade is beginning to make itself

felt in the land of the Rising Sun. Expenses for military operations are a drain on a country's purse and unless the sources of revenue are maintained, it is impossible for that country to engage in a long drawn-out struggle. And Japan is in the unhappy position of finding one of her principal sources of in- come, Sino-Japanese trade, im- paired.

ILL-ADVISED POLICY

Japan's high-handed polley in China is, as 11-advised as it is de- plorable. By that policy, she is certainly the loser at least so far as trade is concerned, and she is giving away to her very competi- tors the opportunity or replacing her as one of China's chief sup- pliers.

Altogether Japan's expansionist

Proprietors

2 6,300,000

AUSTRALIA AND CHINA Inco-porated by Royal Charter 1933

£3.000.000 £3.000.000

£3.000.000

HEAD OFFICE; LONDON: 38, Bishopsgate E.C.2.-

..$10,000,000 | Paid-up Capital

Reserve Fund $20,000,000 Reserve Liability of Pro-

priators

MANCHESTER BRANCH: 71. Mosley Street, Manchester.

AGENCIES AND BRANCHES:

Head Office:—HONG KONG

Board of Directors. G. Miskin, Esq.

Hon. Mr. M. T. Johnson,

Chairman.

ALOR STAR ILOILO

tros Deputy Chairman. AMRITSAR

K. S. Morrison, Esq.,

BATAVIA

וי

BAIGON

SEMARANG

SEREMBAN

SHANGHAI

BINGAPORE

BITIAWAN

BOURABAYA

J. K. Bous&eld, Esq.,

BANGKOK

A. H. Compton, Esq.,

S. H. Dadwell, Esq.,

BOMBAY

JR. Masson, Esq

Hon. Mr. J. J. Paterson,

KARACHI ELANG FORK CALCUTTA KCALA CANTON

LUMPUR CAWNPORI AVGNING

O

ΤΑΙΡΙΚΟ

►

MADRAS

TLENTIN

COLOMBO

·MANILA

TONGKAN

DELHI HAIPHONG

MIDAN

HXW YORK

HANDUNG

PRIPING

BANICW

HARRIS

T. E. Pearce, Esq., A L. Shields, Esq., Sir Vandeleur M. Grayburn,

Chief Manager.

Branches:- Iloilo

Rangoon Saigon Kowloon San Fran- Kuala

cisco

Amay Bangkok Batavia Bombay Calcutta Canton

Peipias

Ipob

Penang

Johore

Kobe

Chafoo

Colombo

Lampur Shanghai London" Singapore

Dairen Lyons Sourabaya Foochow Malacca Sungri Haiphong Manila

Patani Hamburg Muar Tientsin Bankow (Johore) Tokyo Harbin" Mukden Tsingtao Hongkew New York Yokohama

opened in

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

Also up to date Safe Deposit Boxes in various sizes To Let Hong Kong, 12th May, 1937.

HONG KONG SAVINGS BANK

4

Bank is conducted by the HE Business of the above

DONG KONG & SHANGHAI BANKING CORPORATION, Rules may be obtained on application.

For the Hová Kong & ShaNGĦAI'

BANKING CORPORATION.

V. M. GRAYBURN,.. Chief Manager.

Hong Kong, 1st March, 1937.

BANK OF EAST ASIA, LIMITED.

(Bhukat) TEINOTAD

YOXOMAMA

(Paking) saQLI QA

.. PENANG

HONG KONG BARIOON

FOREIGN EXCHANGE and General Banking Business transacted.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for Ons 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 alaima recovery Di British Income Tax overpaid, on terrus which may be ascertained t any of the Agencies and Branches

R. W. ROBERTS,

Manager.

THE CHASE BANK

15. QUEEN'S ROAD CENTRAL

HEAD OFFICE:

18, PINE STAKEI,

NEW YORK

An American Bank offering cam. plete Foreign Banking Service in the principal Markets of the world.

Interest Rates on Application.

SAFE DEPOSIT BOXES

This Bank is entirely owned by THE CHASE NATIONAL BANK, NEW. Yonk, with Resources over U.. $2,600,000,000.

D. M. BIGGAR,

Manager.

LIMITED

polley in China is a fallure. con- Authorised Capital $10,000,000.00 THE YOKOHAMA SPECIE BANK sidering the military expenses In-Paid-up Capital. 5,598,800 00

Reserve and Undivided curred and the decline in Sino-

Proita .....

2,770,726.76

HEAD OFFICE:-HONG Kоxo No. 10, Des Voeux Road, Central,

Japanese trade. Its one effect is the aggravation of anti-Japanese led those concerned to regard fur-feeling, and this very factor has ther moves by her with suspicion. been responsible for unity among Their representatives have seen the Chinese.

ADVENTUROUS

LADS “Split-Flaps

One wishes Hauw Sie Hlän and Foo Boon Chook every success in their adventure. These two Chinese lads are shortly leaving for Ran goon by steamer, and will travel on cycles to China via Siam and Indo-China,

Tribune."

says

the

"Malaya

The routes they have chosen are off the beaten track, and there is no doubt that Sie Hlan and Foo Boon will gamer more than enough material for the book they intend publishing after their tour. Foo Boo Chook is a Straits- born Chinese, and is an Ipoh boy scout.

OIL STRIKES IN MEXICO

Mexico City, Sept. 13. The President of Mexico declared that the strike in the oll felds in Porto Rico which is affecting sup- plies to Mexico City must be set- tled. The strike has been going on for fifty days—

Reuters Bulletin Service.

PHILIPPINE MINING

NEWS

Gold Star Mining Co., Inc., add-

The management

Tunnels with a total of about ed to its programme of expansion 7,000 feet in length were construct when it acquired recently the pro-ed, following and cross-cutting dif- perty of the Gold Star Syndicate.ferent velns to determine the ex- of the former tent and size of the veins, it was company is planning to install a

declared.. These tunnels range mil as soon as engineers, who have inspected the claim, determine its from 20 to 900 feet in length. possible capacity. The engineers will also advise the management where the mill should be built.

Work completed on the property includes a complete assaying labo ratory office, superintendents quarter labourers' bunk house, and hospital.

Directors of the Gold Star MI ning Company are; Jose Maria Ca- cho, president; Clemente Hidalgo, vice-president; Carlos A. Barretto, secretary-treasurer; and Jesus Ca- cho and Fulgencio Borromeo, mem bers,

an

Split-Flaps" For

'Plane Wings

Inventor'e Application Dismissed

Board of Directors:-

Sir Shouson Chow, Chairman

WongthuSon, Laq Kan Ying, Esq.

Li Kom Chan, Esq. Li Lan tang, Esq.

P. K. Kwok,

Wong YouTung,

Chan Ching Shek

E

ung Ping Wah,

Capital (fully paid up)

Yen 100,000,000 pr Reserve Fund Yen 134,400,000.00

HEAD OFFICE:-YOKOHAMA

BEANCHIE AND AGENCIES AT** Alexandria Honolulu Bangoon Bangkok Hainking Bio do Batavia

Karachi Esq Berlin

Kobe Bombey London Calcutta

Kan Tong Po, Esq., Chief Manager.

Li Toe Fong, Esq., Manages

AZOT

BALATA Doto bay

Calcutta Canbus ENPORT Bankow

Branches and Agencies:-

Kowloon

London

Manlis

Stolhoorne

Pohang Bourabaya

LABXOOD

Saigon

Han Fran.

Bwatow

Sydne Talhoku

TMontan مرعاه

Dagunaki New York inactie

Uska

Paris Perplig

POWER

Canton

Janeiro

·

San

Francisco

Los Angeles Seattle Manila Semarang

Dairen Moji

Shanghai

(Dalny) Nagasaki Singapore Fenghien Nagoya Soarabaya

(Mukden) New York Bydney Hamburg Osaka

Tientsin

.Daru Tokyo

Tokyo

Hankow

YABDO ret

Shanghai Tukobama

Harbin Paris

nespora

од

Mr. Justice Luxmoore, in the Chancery Division recently, dis- missed with costs the petition by tonelalu

Tsingtao the Fairey Aviation Company, of Hubs

Hong KongPeiping Yinkow Hayes, and Mr. Charles Richard

Interest allowed on Current Ac Every description of Banking Fairey, aeronautical engineer, for

counts.

Deposite extension of letters patent and Exchange business transacted.

roceived for Fixed granted in September, 1921, for an

Loans granted

approved Perioda at rates to be obtained on securities. invention of "split-flapa" for aero-

application, Current Accounts opened in

Y. KANO, plane wings designed to reduce Local Currency and Fixed Do- landing speed.

Manager. posits received for

One year of Hong Kong, 11th Bapt., 1937: shorter periods in Local and Foreign Currencies on terms which will be quoted on application. Safe Deposit Boxes To Let

KAN TONG PO,

Chief Manager.

The application was made on the ground that, so far, no re- muneration had been obtained from the patent. The opportunity for its development had comes with the advent during recent years of the thick-winged monoplane. · 80 far the invention had not been appited to any, full-sized machine. Giving Judgment his Lordship "said: There having been no at- tempt to apply this invention to a commercial use during the whole life of the patent, It was impos- sible for him to say that this was an Invention which had a merit from the point of view of the 'public.

He was not suggesting that any- thing had been deliberately with- held from the Comptroller-General of Patents, but only a portion of the reports on the tests had been disclosed at a late hour. If the petitoners neglected to provide proper informátión to the Com- ptroller in matters of, that kind It was the duty of the court to say that an extension would not be considered.

The invention had not been proved to be of such utility to warrant an extension, and the petition would be dismissed with. costs.

THE REICHSMARK

Berlin, Sept13. The Reichsmark was quoted, without guarantee, at:

New York, 40.13. Paris, 1130.

Amsterdam. 72.86. London, 12.335.

to

Paris sterling, 118.72 to 138.80. Paris UA. dollars, 28.055 28.065 Transocean New. Hermes.

CANADA STRUCK BY GALE

Ottawa, Sept. 13. Eastern Canada was visited by, the worst gale in many years to- day. A number of vessels were stranded and destroyed, while, in Nova Scotia one tenth of the apple crop, was damaged. In Toronto thousand homes suffered damages while the Canadian National Ex- hibition was also affected Renter's Bulletin Service,

PINCHIN, JOHNSON, AND CO.

An interim ordinary dividend of 7 per cent is to be paid for the year ending December 31 by Pinchin, Johnson, and Co., the paint enterprise. Though at the same rate as last year's interim, the present payment is payable."on a capital increased by the dis- tribution of a 10 per cent share. bonus in March. Bales to date this year are reported to have shown, "a very satisfactory" increase, and as the lag between the advance: of selling prices and that of the cost of materials was recently cor- rected to a great extent there should be a reasonable prospect of the maintenance of the full 1936 distribution of 20 per cent on the larger capital. Certainly the price of the 102-shares-428-80.--- suggests that few doubts are en- tertained about the capacity of the

shipping and commercial demand for paint to offset any contraction in the demand arising from the falling off of house- building.