1937-10-01 — Page 12

12

DAILY SHARE QUOTATIONS

Hong Kong Stock

Bayasiler

Exchange

TITL

:

1937.

THE REFORM OF

HONG KONG DAILY PRESS, FRIDAY, OCTOBER 1,

THE EXCHANGE

Sharebrokers*"

Association

MARKET

THURSDAY. SEPT. 30.

Sulla

duyers

dales

tanks

$1,550 H.K. Banks

International Aseco, J,

MESSRS. ROZA BROS

Hong Kong, Sept. 30, Silver prices were unchanged

11,500 yesterday, the quotations remain..

£18

20. (London)

Eve

ลาษ

Uhartered Banks .....

8331

Mercantilo Bks. "A"

2131 £33

ᎬᏒ

Do.

$101

Bank of East Asia....

£18

$98

N. O. & S. Barka ...

Insurances.

134

$300

Canton Insura:1061..

1810 Union Insuran1056 ...

12

Underwriters

1280

H.K. Fires....

$290 $560 12 $275

JA

Shipping

Douglases

Steambo

Do. "(def.)

106,3

Shells *****

$9.30

19.30

Mining

16/8

#101

$5

***** 218

$48)

310

143

*

Indo-Chinas (prof.)

Waterboats

Kailans ......

Raubs .....

CURRENCY

Plea For Decimal System

ing at 19 7/8 for Ready and 1934 TIE BETWEEN BRITAIN AND U.S.A.

for Forward. Silver advices re- ported India as having sold. Speculators bought.

After the

were

It was quite to be expected that | Indles, where it prevails partially in most of the British islands. It is also the system universal in British Gulana, our one possession on the South American continent.

in a period when so many con- un-

ventions are being questioned at- tention is being directed to our British currency.

oficial fixing prices changed. India was again a sel- lor whilst America bought. The market was stendy. American Silver was quoted at 44 3/4 for Spot.

The London-New York cross- rate was quoted at 494.72. New York-London was quoted at

1481

$10

351

3/16.

148

1 6/3

Quiet

***

10/6 391

Venozunia Gold Fidu. | $4,30

Docks, WharTOS,

Godowns, etc.

H.K. & K. Whares.

$120 121

[ê0 ·cta"

(new)

Providents (okl

Do. $32.85 H.K. & W. Docks

Shangaai Dock. S.

!!!

$119 $1.20

60 at

$321 $108

$168

$31

New Enginnerings 8. Lands, llotels, and

$3

$0.90 1341

$11

10.10

Kui dings

H.K. Hotels ...... H.K Land...........

$002) Du 4% Debentures Shanghai Landa... Metropolitau Lands.. H.K. Healties..................... China Du kann uề Do. Debanturces. Humphreys ********* Olanda Existes Colton Mills

113.60 Ewo

$100 S'ha Cottons(old)S.

Do.

14.44⠀⠀

$8.50 335 1102

$6.90

39

113)

490

$34. Ku

(news.

34.

Zoong Sings

(90

Wing On Textiles(S.)

Ewo Cotton Rts, S.

Pablic Utilities

$14.60 Tramways ******

314

Peak Trams (old)..... $5

LY

Do. (now)... 121

186

Star Ferries

ies

$27

Yaumati Forriés...

97

$13

Do.

$18.30 1691

$1,00

#:

$13,90) Chinx Lights (old)...

$13,70)

159

(aow)...

H.K. Electrica

$18 Macao do.

$14|| Sandakan Lights ........ $29.80 Telephones (old)...

J

Miscellaneous

J+

MARKET

STERLING

We were all taught in school

A PERSONAL EXPERIENCE thut, four farthing make a penny. May I quote a personal exper- 12 pence a shilling, and 20 shillings lence here. Landing some years

pound, and somehow we grew

ago in Georgetown. BG, I took a 495.-up to think that this was like the taxi from the wharf, it had no law of the Medes, and Persians taximeter, but when I asked the beyond alteration-and the main-cabman, what the fare was, he säld, tenance of the sterling pound of to-day is the foundation of the structure of British financial pre- cminence, writes a correspondent in the "Glasgow Herald."

There were sellers at 1/3 Sep- tember-January, buyers at 1/3 1/32 Cash-January and 1/3 Febru-

small ary, A

business was ar- ranged at 1/3 1/32 for cash.

U.S. DOLLARS There were sellers at 31' Cash- October 30 15116 November-De- cember and 30 7/8 January, buyers at 31 1/16 Cash-November and 31 December. No transactions were

reported.

SHANGHAI DOLLARS Sellers at 104 for Spot.

SHANGHAI MARKET Sterling opened with sellers at 1/2 13/32. buyers at 1/2 7/18. Later advices reported the market as being a shade easier, with sel- lers at 1/2 11/32, buyers at 1/2 3/8 for Spot, U.S. Dollars opened with

This belief was rudely shocked seven years ago when we found that a Bank of England five pound note, which had been hitherto as good as five gold sovereigns in any part of the world. had fallen in value in the estimation of Our foreign creditors by about 40 per cent, and as they had the right to take payment in gold we went off gold, and in so doing paid our foreign creditors 60 per cent of what we owed them.

We, being on balance a creditor nation, lost much more than we gained by going of gold. But that was the cost at which we got round an immediate emergeney,

"A dollar." Having some American money in my pocket, I offered him a silver dollar. He said, "That is no use to me; I want an English dollar," so I gave him two fiorins and two copper pennies, with which he was satisfied.

BANKS

HONG KONG AND SHANGHAI THE CHARTERED BANK OF INDIA

BANKING CORPORATION

Authorised Capital $50,000,000 fisued & Fully Pajd-Up $20,000,000 Reserve Funds: -

Sterling

Hong Kong Currency

.£6,500,000

AUSTRALIA AND CHINA Incorporated by Royal Charter 1853

HEAD OFFICE: LONDON: 38, Bishopagate E.0.2.

Roserve......$10,000,000 Paid-up Capital.. Reserva Liability of

Reserve Fund Proprietors

.$30,000,000 | Reverve Liability of Pro-

£3.000.000 £3.000.000

prietors pl

£1.000.000

Head Office:-HONG KONG

Board of Directors. G. Miskin, Esq.,

Hun. Mr. M. T. Johnson,

Chairman.

MANCHESTER BRANCH: 71. Mosley Street, Manchester..

AGENCIES 'AND BRANCHES: ALOR STAK ILotto

SAIGON IPUN Deputy Chairman. AMRITSAR

KARACHI RANGKOK BATAVIA

J. E. Bousfeld, Esq., A. B. Compton, Esq., S. H. Dodwell, Esq.,

J. B. Masson, Esq.

K. S. Morrison, Esq..

Hon. Mr. J. J. Paterson,

T. E. Pearce, Esq.,

A L. Shields, Esq.,.

CAWNPORS

KLANG

KORE

EUCHING, MADRAS

(Bhuket)

11

SEMARANG

BEREMBAN

SHANGHAI

BOMBAY

BINGAPORE

CALCOTTA

KUALA

SITIAWAN

CANTON"

LUMPUR

SOURABAYA

TAIPING

COLOMBO MANILA DELHI

TOBUZAR

MEDAN

HAIPHONG

NEW YORK

TRINGTAO

HAMBURG

PEIPING

||

HANKOW

HARBIN

Amoy Bangkok Batavia

Iloilo

Peiping

Ipoh

Penang

Jokore

Rangoon

Kobe

Saigon

Kowloon Kuala

San Fran-

cisco

Sir Vandelsur M. Grayburn,

Chief Manager.

I am telling this story merely to show how easily our present coins could be fitted into Bombay the cent and dollár system. as they are so fitted already in this colony, which has more than half the area of England.

Building upward from the cent we would arrive at the pound. We can never get away from gold as an ultimate measure of interna- tional value, because it is the only standard universally recognised by the greatest trading nations.

When we get to the pound we find

that between it and the

Caloutta Canton Chefoo Colombo Dairen Foochow Haiphong Hamburg Hankow Harbin Bangkew

Branches:

Lumper Shanghai Loaded Singapore Lyons Sourabaya

Malacca Sungei

Patadi.

Manila

Muar Tientsin (Johore) Tokyo' Mukden Tsingtas New York Yokohama

Current Accounts opened in Local Currency and Fixed Deposits

29 3/4. Subsequently the selling sellers at 29 11/16, buyers bidding This familiar story is told only to American five-dollar plece there received for one year or shorter

rate receded to 29 19/32. buyers at 29 11/10 for, Spot,

."

IN THE AFTERNOON The market was quiet in the afternoon.

U.S. DOLLARS

The market closed with sellers

at 1/3 October-January buyers at 1/3 1/32 for any delivery.

STERLING

The market closed with sellers at 31 October, 30 15/16 November- December and 30 7/8 January, buyers at 31 1/18 Cash-November. 129.40 31 December and 30 15/16 Janu-

1.30

24/

་་་

ary.

H. K. STOCK EXCHANGE

YESTERDAY'S OFFICIAL QUOTATIONS

$1,60

Do.

(new)...

China Buses..............B.

23/9

Tractions ********

93/.

Do. (pref.)ser

Industrials

$18

Caldbeck, jord.) 8.

$17

Macgregors (prof.)8.

12

#

Canton Ices

$15,10 Caments

$15

15,05

Ropes

$5.20

$28)

Dairy Farma..........

$244

*5.90

Ch. E'tainmonte......

$4.80

$1,80

Constructions, (old) $1.60

Do.

31

31.GS

Lane Crawfordu,...---

18,60 $6.80

$2,60

$2,

$5,40

$8.35

S. C. Enterprises....

971.

Cu.G.5% 1925 0.5 Brix.)

"you"

prem. 81%

H.K. thart, 4% Lsor]

$1001

pret

Do.

34

+1

31011

$60

H.K Wing On....

Indo-Chinas (Pref.), $51. Indo-China (Def.), $43. Union Waterboats, $9.30.

165

Chinese Estates. $88.

$100

Vibre Piling

$4.90

Peak Trams (Old), $5.

22/6

3-

(ILK)

20 ata.

40 ota

LONDON

Paris Geneva

Nanyang Tobacco,...

Sincerea ..........

Watsong

Wallace Harper

S'hai 170

Maramanns liv. (Lon.)

Wm. Powolle

•Sales to Shanghai

EXCHANGE RATES

(British Wireless Service)

Sept. 28 144-33/64

21.541

Berlin

12.321

Sept. 29 144-19/32 21.54. 12.32

Athens...?

Millian

94.00

94

Copenhagen

Stockholm

Shanghai

.1/29

New York

4.94-21/32

Amsterdam

8.989

1/11 4.94-11/16 8.95

Vienna

Prague

1414

1411

Madrid

Lisbon

Hong Kong

Bombay

Montreal

4.941

Brussels

29.374

4.942 20.371

Yokohama

Belgrade

Monte Video

Elo

Bucharest

Silver (Forward).

Bilver (Spot)

War Loan

ON LONDON: --

193

102

191 31% 100-13/18

101

34% 100

Closing Quotations

September 20, 1937.

Telegraphic Transfer... Bank Bills, on demand 1:27

Credita. four months'

aight

1#*v,

1/24

От Внауди

On Demand

102!

O Sabon: ---

On demand

$21.

On JAPA

On demand

10

Telegraphic Transfer... 1

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

ON NEW YORK:-

Bank Bill, on demand 30% Credits, 60 days' sight. 31} ON BATAVIA:

On demand... 55 ON PARIS:

Bank Bills, on demand 890 Credits, month's sight 960 O BAION-

On demand corpore 598

ON MANILA:-

On demand.................. 61}," ON BANGLO-

On demand

140) SOVNERIONE Bank Baying

Rita

/31/16 BAR GILTER. DIE Cầu gansan. 19%

The market continued very steady with increased activity in- dicated.

BUYERS

Douglases, $48).

Peak Trains (New), $2). Wm. Powell Ltd.. 40 cts. Constructions (Old). $1,80, Constructions (New). $1. H.K. Govt. 3% Loan, 1 Prm.

BELLERES E.K. Steamboats, $10.

$1,000 FOR WAR CHEST Kwenming. Sept: 29: A British resident here has contributed $1,000 to the Chinese national war chest.

The local Y.W.C.A. has also raised $8,000 for the anti-Japanese campaign.- Central News,

show how the paper pound. like the paper franc, the paper mark. is no foundation on which to build so far as International transactions are concerned:

"ANTIQUATED" SYSTEM Having thus cleared the ground we can now look at the British currency system, and here one has to admit that it is one of the most antiquated currencies in the world.

when The American Colonies, they set up house for themselves. did not take long to cut themselves clear of it. They established their currency on the simple decimal basis from which they have never departed, and the greatest of the British Dominions, Canada, has in this followed the example.

on

is a gap of tenpence All we would require to do would be to raise the gold content of the pound by tenpence worth gold, and we would arrive at a measure of gold "value common to Great Britain. * the United States, and Canda.

Sterling on terms which will be periods in Local Currency and

quoted on application.

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

RONG KONG SAVINGS BANK LINK BETWEEN NATIONS We can never now detach Canada

HE Business of the above from America in currency matters is conducted by the and those two communities com- HONG KONG & SHANGHAI prise more than two-thirds of the BANKING CORPORATION, Rules people who Inherit. the English may be obtained on application.

For the Hoxe KONG & SHANGBAL speech and the English "culture."

BANKING CORPORATION. using the term in the

V. M. GRAYBURN,

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

hensive German sense,

compre-

It is not in the least likely that either Australia or South Africa would stand out of such an agree- ment, because its advantages." In all international transactions would be so plain and apparent.

Nor is it to be overlooked that we would thus forge another link binding all the communities of the great English-speaking family together.

All this would involve, of course,

BANK OF EAST ASIA, LIMITED.

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

Profita .......

YOKOHAMA

(Peking) DANGA

PENANG

HONG KONG KANGOON

FOREIGN EXchanor and Generaḥ Banking Business transacted.

CURRENT ACCOUNTB opened and FIXED DEPOSITS received for One Year or shorter perioda at ratej which will be quoted on applica sion..

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

B. W. ROBERTS,

Manager.

THE CHASE BANK

15, QUEEN'S ROAD CENTRAL

READ OFFICE.

18, PINE STREET,

NEW YORK

An American Bank offering com

plata Foreign Banking Service in the principal Markets of the world.

Interest Rates on Application.

SAFE DEPOSIT BOXES

#

This Bank is entirely owned by THE CHARE NATIONAL Bank, Naw YORT, with Resources over U.S $2,500,000,000.

D. M. BIGGAR,

Manager.

LIMITED

5,568,600 00 THE YOKOHAMA SPECIE BANK

2,776,726.76

Capital (fully paid up) HEAD OFFICE:-HONG KONG

Yen 100,000,000 ∞ 10, Des Voeux Road, Central. Reserve Fund Yen 134,400,000.00

It is needless to go into detalls to show the advantages of decima- lisation. Everybody will admit them. The only question is what basis a new currency for the United Kingdom should rest.

The advocates. for the pound as it Is

we should begin say with

gold content a readjustment of all internal No. present its and work downward, but those values to the new standard. It would mean many calculations, but who hold that if we did so we

there is surely no reason why we would inevitably detach cur eur-

in Great Britain should hesitate' | Li Kom Chiun, Esq. Là Lản saog, Esq. rency from the currency of Canada.

the to do what other peoples have F. K. Kwok, ay. WongChuSou, Esq. which is firmly wedded to

done, and done successfully, long WengunTong, 8q. Kao Ying Pu Esq. cent and dollar system hold that

FungPing Wah, we should begin with the half- ago. This preliminary trouble over, Chai Ching Shek

we would resume our true financial penny which is the equal of the

position in the world, a position cent, and work upward.

which is more or less disturbed by our obsolescent monetary system.

Canada has carried the cent and dollar system down to the West

REICHSMARK

QUOTATIONS:

Berlin, Sept. 29. The Reichsmark Was quoted. without guarantee, at: New York. 40.125" Paris, 1172_- Amsterdam, 72.625 to 72.675. London, 12.3275.

Paris Sterling, 144.53 to 144.55. Paris UB. dollars, 29.225 to

29.235.-

Trananean News Service.

PHILIPPINE MINING

NEWS

RETAIL TRADE

FIGURES

London, Sept.,, 29. The value or retail trade in August was 6.7 per cent greater than the year before. Sales are now about 25 per cent above the 1933 level. Stocks at the end of August were valued at 0.3 per cent more than a year ago and employ

ment was 3.7 per cent greater.- British Wireless,

EXTENSION TO

DOCKS -

Board of Directori :—

Sir Shouson Chow, Chairman

L.

HEAD OFFICE:-YOKOHAMA

BRANCHES AND Agencies T Alexandria Honolulu Bangkok Heluking

Karachi Esq. Batavia

Esq.

Kan Tong Po, Faij., Chief Market. Li Tse Fong, Esq., Manager.

Batarin

ποροφή

Bombay Manila

Calcutta Bastoa

London

Rangoon Bio do

Janeiro

San

Francisso

Berlin Kobe Bombay Calcutta Los AngelesSeattle Ushton Manila Semarang Dairen - Mojt

Shanghai

Branche and Ayracia ;--

Kowloon Panang Bourleta

(Dalny). Nagasaki Singapore

Fangtion Nagoy

Soersbays

(Makden) New York Sydney

"Tisutain

Tokyo

T'aingtao

SL4ZDOD

Bwataw Balgon

Sydney Melbourne Sad Prop- Talaku

saco Tient

Tokro Semarang) VADOVEY Shangh Yokchsma

Haiphong New York Sacela Bankow Itonolula Parla

Kabe

Pelping

gyors .

00

Hamburg Osaka Hankow

Harbin Paris

Hong KongPaiping Yinkow

Interest allowed on Current Ao- counts.

Every description of Banking and Exchange business transactad..

granted

approved Loans securities.

Current Accounta opened in application. Local Currency and Fixed De- posita received for one year or

Deposits roceived for Fixed Perioda at rates to be obtained on

Y. KANO,

Manager

shorter periods in Local and Hong Kong, 11th Sept., 1837. Foreign Currencies on terms which will be quoted on application. Safe Deposit Boxes To Let.

KAN TONG PO.

Chief Manager.

KAISER WILHELM RUMOURS

DENIED

WILHELM BOHLE TO SPEAK

IN LONDON

Berlin, Sept. 20... The Chief of the National Bo- cialist Foreign Department in the Foreign Office, Wilhelm Böhle, will Amsterdam, Sept. 29. speak to the German community' Rumours circulated in many for- in London in connection with the eign capitals, to the effect that Harvest Festival, which will be the former German Kaiser, Wil-celebrated in Germany and Ger- helm, is seriously ill, prompted the man colonies abroad during the Amsterdam paper "Telegraaf" to coming week-end. send a special correspondent to Doorn. The correspondent reports that the rumours are without foundation.

London, Sept. 29. Extension to Bristol's Municipal Docks at Avonmouth, necessitated by increased trade and estimated to cost of £830,000, has been ap- proved by the Bristol City Council four As a result of the exploration which has already spent over IN TACLOBAN, LEYTE,

work, more than 150 gold claims £9.000.000 on the Docks. In the mining companies are in the pro- cess of organization to develop were registered in Hilongos during first five months of this year,

imports, and

exports west Leyte, the last few weeks. mining claims in

through according to Maximo Veloso, FEDERATED MINERALS, INC., | Avonmouth totalled nearly 2,000 geologist. Mr. Veloso told the a management corporation, and 000 tons. British Wireless. Bulletin that deposits of gold, Simeon Capule Cruz, president silver, iron and copper will be and general manager, is facing a explored by the proposed mining non-payment complaint of firms. The four mining companies employees filed with the bureau of The big American liner Levia-Trascoccan News Service will be named Hilongos Explora-labour by C. del Mundo, J. M. than, which is to be broken up, tion Association and Development Castro. I, M. Gonzales and C. may come to England. Company, Aldecoa Mines, Pintuyan Indiongco" recently. Mines and Anislag Mincs.

its

12

LEVIATHAN TO BE BROKEN UP.

It is the custom on this occasion for German Party and Government leaders to hold speeches to the Germans abroad; and Wilhelm Eohle will make the trip to Lon- don at the special invitation of German Ambassador to London, Herr Joachim von Ribbentrop.-- Transocean News Service.

THE

From a scrap point of view the

COMPENSATION FOR BRITISH AMBASSADOR The complaint which was sub-Leviathan is valuable, as there is Mr. Veloso declared that a repre- scribed and sworn to by the chief not a great amount of non-ferrous metal in her. She was bullt, at sentative of Mitaui Bushan Kaisha

London, Sept, 29. of the public defender of the Is negotiating with him to buy

Hamburg in 1914. Her gross ton- |

to pensation of £5,000 for the in- The British Ambassadör labour bureau, alleges, that Iron claims of the proposed com-

nige is 59,975, her length 9076 China, Sir Hughe Montgomery juries suffered while on duty.... feet breadth 100.3 feet, and depth Knatchbull-Hugcasen, who left A Bill to this effect is to be panies located in Panaon Island, spite of repeated demands, the

58.2 feet. Malltbog, Pliituyan and Hilongos. defendant corporation and

hospital a few days ago, following brought before the next meeting When war broke out in 1914 she his wounding during à Japanese, of the House of Commons, it is Assay reports were encouraging on president refused to pay four em- tine various claims. Prospecting ployees notwithstanding the fact was interned in New York, and was air attack on his car when travel declared in Informed quarters and exploration in all these claims that the said corporation has seized when the United States ling from Nanking to Shanghai, here. has been carried on systematically. money to pay sald employees.

will be granted a special com- fransocean News Esrvice. «

its

entered the conflict.

J