DAILY SHARE QUOTATIONS
Hong Kong Stock
Exchange
Nomalga
MONDAY.
DEC. 20.
Sharebrokers'
**AssociationTM
!!!!!
148)
3620
!!
11
diri
13 ate
1.4
:
Banks
$1,205 H.. Banks
£86
Do. (London)
£86
212
Chartered Banks...
212
£32
Mercantile Bks. "A"
£3%
215
Do
215
180
Bank of East Asia...)
180
NU. & S. Barks...
12
Insurances
1279 Cauton lusaraidos,
8970
1518 Union Insurances .... 116
$515
Underwriters
$1
#248H.K. Fires..
1940
International Assou, a,
singplug
Douglaver
Steamboats,
18.10
SD1
Indo-China (prof.)
143
Do. (def.)
29/14 | Shell .....
10.30
WaleriMalin
$51 133 97/8 $9.30
Muning
17/6
Kailang
$17/0
$6.00
$5
Rauba ka saran yan V-naznak told Flix,
XD
$8
$4
"Hongkong Minos
Docks, Wharves,
Godowa, ete..
BUS
4.K., K. Wire
Ty
Providents (uld!
36 cts.
132
SEIKO
(Dew) 25 ota. Do 4.K. & W. Docks J Shangnai Duck"": 5. New Engiaverings. 8.; Lands, Hotels, and Bul dings..
$0.20 H.K. Hocols
H.K Lands.......... Do. 4% Debentures Shanghai Landa.... Metropolitan Landı.,
H. Roshes......... China Du......... Do. Deionturess. Humphreys
Chinese Fatales.....
Colton Mill
$11.30 Ewus
Shui Cotton-fuld;3.)
1.
Zoung Sungs..... S.
$1.85
184
SHE
177
$13.30 Tramways .................... |-374
10. (Low)...
::
The Directors of your Company are glad to have been able to placeAmer. before you a satisfactory account "of the past year's working and it will be seen that the net profits bave increased from $885,637.45 to $952.104.54.
I am sure you will wish me to thank our Manager and Staff (both European and Chinese) for their
to further unsparing
your efforts Interests. I would specially men- tion that most arduous work re- sulted from the unprecedented typhoon in
all September but difficulties were successfully over- come.
Baldwin Locomotive
37 cum. Br..
Baltimore & Ohio... 11
Barnsdall, Oil
Benix Aviation Bethlehem Steel Boeing Airplane Borden Co. Briggs
QUOTATIONS.
Last High Low Close
6.97 8.31 13, 15.18 15 25 914 901 91
381
KB
1171 1184 117
'44
Déc. 19.
498
31.43
21.42
Stocka Adama. ET CER Allis Chalmers Amer. Can Am. Cat & Foundry Amer. Cyanumid Amer. & For. Power
Dec. 17 18
9
B 471 481 73
731
221
227
Int. Nickel ........... 44
TheL
41
44
Int. Tell & Tel
$1,500
HONG KONG DAILY PRESS TUESDAY, DECEMBER 21, 1937.
CHINA LIGHTS PROFIT
Good Dividend For Shareholders
*
A net profit of nearly a million dollars was reported at the annual general meeting of China Light & Power Co., Ltd, held at St. George's Building, Chater Road. yesterday the chairman, Mr. A. H. Compton, presiding.
The others present were:-Sir Elly Kadoorie, K.B.E. Mr. J. P. Braga. O.B.E.. Mr. Lawrence Kadoorie, the Hon. Mr. M. K. Lo idirectors), Messrs. J. N. Murray, Wong Wal Chu, Lo Pak Hon, Quan Leong Sit. Fullerton Attorney for Mr. Felix A. Joseph, 8. M. Bander, A. S. Ellis,.H. Summers, J. J. Edgar. Mak Kin Fan, Ezra Abraham, J. M. Jack, J. A. de S. Alvares, C. M. Silva, K. C. Mark, Kung Cheong. Fung Wing Hing. P. C. Potts, Chua Seng Choo and Mrs. Quan Sul Lan. CHAIRMAN'S SPEECH
NEW YORK STOCK EXCHANGE
(Through Router's Service?
Now York: December 19.
New York/London Cross-nate Now York Cotton-Mar. New York Rubber-Mar Chicago Wheat --lay. Chicago Corn -May. Winnipeg Wheat-May. Silver Oficial
1937
High Low Dow Jones: Avorsges 194.40 113,84, 50° Industrials
01.48 19:16 20 Raila 97.54 19.54 20 Utilition. 100.89 91.64 40 Bonds
82.44 59.08 11
Coinmodity Index 33.40
Today'
Close Change
BANKS
HONG KONG AND SHANGHAI | THE CHARTERED BANK OF INDIA
BANKING CORPORATION
$80,000,00
Issued & Fully Paid-Up $20,000,000
AUSTRALIA AND CHINA' Incorporated by Royal Charter 1833
ALD
HEAD OFFICE: LONDON: *38, Bishopsgate EC.2
"
£3.000.0 £4.000.000
£3.000.000
1
BEMARANG
AEREMBAN
SHANGHAI
SINGAPORR
BITIAWAN
SOURAHATA
ГОНЯКАК
(Bhuket)
Authorised Capital
Reserve Funds:-
Storling
....£8,500,000
4.99-11/16 4.99-13/16 1/8 up
8.21 8.52
up
15,20
.06 of
911 50 :118
unquoted
I up
Hong Kong Currency
Reserve Reserve Liability of
"Proprietors
1/4g
1/4 off
Head Office:HONG KONG
Bigh Low Close Uhange 126 02 195.10 19.63 1.65 up
31.9 31,58 31.91
48 up 91.84 21.33 21,58 14 up 93.44
$3.55 .1) up 53.43 .03 up Business Done: 500,000 shares.
Board of Directory G.. Miskia, Esq.,
Hon. Mr. M. T. Johnson,
Deputy Chairman, AMRITSAR J. E. Bouatiald," Esq., A. H. Compton, Esq... S. H. Dodwell, Esq.,
J. R. Masson, Esq.,
K. S. Morrison, Esq..
Stock
Dec. 17 18 Great Northern Rly. 243 243 Great Western Buget 272 / 28 Holly Sugar Corpn. Humble. Ol
Hon. Mr. J. J. Paterson,..
T. E. Pearce, Esq.,
A L Shield, Esq.,
84+
631
Sir Vandeleur M. Grayburn,
Chief Manager.
451
་ ཀ
71
Branches:—
HARDIN
The Chairman read the follow- ing report:
Amer. & For, 37 pr
221
221
Int. Dept Stores .
114
101*
Amoy
Iloilo
Peiping
Amer. Locomotive
211
221
Kennecott Copper 372
381
Bangkok
Ipoh
Penang
-
1116
$2
Amer. Metals....
301
31
Lambert Corpn.
11 113
Batavia
Johore
Rangoon
Radiator "...!!..
121
13
Loew's Inc.
484
49
Bombay
Kobe
Saigon
Caloutta
Kowloon
1271 $100
Amer Rolling Mil
191
19
Lorillard
101
181
Canton
Kuala
Amer. Smelting, ..."
481
491
Mcintyre Porcupine →→
Chefoo
13
McKesson & Robbins 30%
31
Colombo
Amer. Steel Fdrien. Amer. Sugar
24}
244
Monsanto Chemical 884
86).
15.10 #314 $102
$4.70
38,40
Amer. Tel, Tel..
Amer Amer. Waterworks 4naconda-Copper Atchison, T. & A. Fe.
1401
1471
Montgomery Ward
341
35)
Foochow
Malacca
Sungei
64
· 841
Tobacco "B*
Murray Corpo. ....
13)
131
Nat Cash Registor
142
15
Hamburg Muar
Haiphong Manila
Tientsin"
srd
311,
321
Nat Dairy Products
14
14
Hankow
(Johore) Tokyo
40
407
Nat Distillers
201
201
Harbin
Tsingtao
Atlantic Refining
Nat Power & ̈ ̈ Light
01
71
New York Central ...
181.
191
in
Atlas Corpn. ........
34
Auburn "Motors
Niagara Budson P.
Corpn.
"81
312į $77
CD
$34 ..349
14
551
28+
1སྲ སྒྱུཡྻུ
1ཀྐ, ཙྩོ
North American .....
73
81
12
Northern Pacific
121
121
14
Pacific Gas & Elec.
261
27
Pacific Lighting-
37..
371
573
Packard Motors
鐘 44.
201
Paramovet
101
10%
17 171
Pennsylvania R.R...
88 *
88*
211
221
Phelps Dodge
Philips Petroleum
401
401
ཚ
ཚ
Public Service of NJ.
334
332
Pullman Inc.
TH
An
25+
93+
71
ax
བྷཱཝ
26 *
Pure Ol
107
11
94
Radio Corpn of Am.
:61
61
8
Republic Steel
18
189
Corpn. of
Reynolds Tobec. "B",
434
444
181
དྷརྨཱ
བྲཱཛཱ
161
}
381
Bt. Joseph Lead Co. Schenley
23
241
75
Schenley 51% pt.
741*
481
12/0
W+1+
"743*
71
2 21
50
423
301
60
31
14
+
36
354
1151
6:
Electric Boat .........
***
175 cte.
Elec. Bond & Share
10
35 pt.
184
434
311
22
631
191
བྷོ#ཡྻོnc#
ཨྰཿཀྰརྒྱུུབྷྱོཿཙྪངོ སྐྱུབྷཱཚནྣཙྩ ས བྷཱཝུཏྟཱ ཨྠ 8 ཙ ཚ ཚཝོཊྚ8 8 བྷནྡྷནྲྀ
461
59+ 604
Sears Roebuck
371
187
Shell Union Oll
174
551
15
Bocony-Vacuum
151
Southern Cal Edison
214
211
74
213
221
Southern Pacifc
****
BANK OF EAST ASIA, LIMITED.
371
Borthern Kly 5% pf.
134
134
71
Stud Brands .........
81
8
Authorised Capital ...$10,000,000,00
Stard Stand Gas & Elec
Gas & Elec
+7
5
Paid-up Capital
5,598,800.00
Reserve and Undivided
421*
251
254
$7 pi........
Profits
2,770,796.76
241 241
Standard Oil of NJ.
461
Di
Serling Products
57
563
31
23
234
Swift
International
607
Technicolor
171
18
31
Texas Gult Sulphur
27
28
144
151
Tidewater Assoc. Ou
151
18 161
Timken-Detroit Axle Transamerica
11
111
72
20th Cent. Fox Filme 20th Cent. Fox Fims
211
21.
Chan Ching Shek, FungPingWah,
Esq.
F, Eaq
142 15)
272
27
pr.
37%
Un. Carbide & Car-
117
751
767
Kan Tung Po, Esq., Chief Maraqur. Li Tan Fong, Esq., Manager.
bon .......
61
841
85
Un. Pacific
101
*231
231
United Aircraft
Amoy
Branches and ́Agencies ;---
Kowloon FRAME Bourabaya
Un. Airlines Trans-
Bwatow
53
Bombay
Mania
port
31
34
Calcutt
daigon. Malbourne Sin FYLD-
Bydney
Valkoku
United Corpn.
1.
24 23 *
321 331
*** B BEREN 2 188
United Corpn.
83
Canton Halphong Hankow
XARMAC
облоко
Tiantais
New York deactiv
Tokyo
Semain
321
32
Alenotatu
Paris
Shangta
cum pt.
Kobe
101
Un
Gas Tprovem't.
101
Un. Light & power
31
31
181
US Industrial Alco-
21
21
hol
securities.
US Rubber .....
201
287
Current Accounts
Us Rubber $8 pf.
541
55
.$10,000,000 || Pald-up Caplial....
Reserve Fund .$20,000,000 || Reserve, Liability, of Pro-
prietars
Chairman.
San Fran-
cisca
Lumpur Shanghai London Singapore
Dairen Lyons Sourabaya
Mukden
Patani
Hongkew New York Yokohama
Current Accounts opened Local Currency and Fland 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, 19th May, 1937.
BONG KONG BAYINGS. BANK
THE Business of the above
Bank is conducted by the HONG KONG & SHANGHAI BANKING CORPORATION, Rales. may be obtained on application,
For the HONG KONG & SHANGHAI
BANKING CORPORATION.
V. M. GRAYBURN,
Chief Mariager. Hong Kong, 1st March, 1937.
HEAD OFFICE:-Hora Koro No. 10, Des Voeur Road, Central,
Board of Directors:-
Sir Shouson Chow, Chainnan
Li Koon Chan, Esq. Li Lan Saug, Esq. P. K. Kwok, Fag. Wong Chuson, Eaq Wong YunTong, Eaq, Kan Ying
Peping ..neupora
Ysabourer
Yokotas
MANCHESTER BRANCH: 71 Mosley Street, Manchester
SAIGON
AGENCIES AND BRANCHERS:
ILOILO ALOR STAN
ПРОД
KAVADEI
BANGZOR BATAVIA... BOMBAY CALCUTTA CANTOR
LAWNPURE
COLOMBO DELHI
KLANG
KODE
KUALA
LUMPUR
KUCHING
MADRAS
MANILA MRDAN
TAIPING
NEW YORK THINGTAO PRIPING
KOKOKAMA
(Peking) ZEQAMGA
PENANG
HONG KONG KANGOON
FOREIGN EXCHANGE and General Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received-for One Year or shorter periodi at ·rador which will be quoted on applica tion.'
The Bank's Head Office in Lon don uudertakes Executor & Trusies business, and claims recovery of British Income Tax overpaid, on terms which may be ascertained sa any of the Agencies and. Brancha
R. W. ROBERTS,
"Manager.
THE CHASE BANK
·18, QUEEN'S ROAD CENTRAL A
HEAD OFFICE:
19, PIE STERKT,
NEW YORK,
American Bank offering com- 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, N
YORK, with Resources over U.S. $2,500,000,000.
D. M. BIGGAR,
Manager.
BANK OF CHINA
F
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE
*BANK
PAID-UP CAPITAL...$40,000,000.00 (BRANCHES ALL OVER CHINA)
Owing to our numerous Branches....... in China and connections in the principal Commercial Centres of the World, we are able to extend to our Cliente special facilities "for Domestic and Foreign Banking and Exchange.
Head Unce: SHANGHAI Hongkong Branch:
4. QUEEN'S ROAD, C
South China Officer:
CANTON.. KONGMOON
Every description of Banking SWATOW
TOISHAN
and Exchange business transacted. SHIUCHOW KINGCHOW Loans granted од approved
We also handle the issue of Bends
Local Currency and Fixed De Chinese Government both at Home
"
HAIPHONG
HAMBURG
KANKOW
opened in and other Fublic Funds of the
US Steel
62
624
posits received for one year or
and "Abroad.
Vanadium
572
584
221
Warner Bros Pict...
151
161
Westinghouse
Elec. 1001
1081
shorter periods io Local and Foreign Currencies on terms which will be quoted on application.
SHOU J. CHEN
Manager.
221
Youngstown
Sherr
& Tube
181
52**
197
Call Money
391 Chase National Bk. 307* 303* National City Bank 261* 281*
1% 1%
387
1 ex div.
Bid
Bafe Deposit Boxes To Let.
KAN TONG PO.
Chief Manager.
THE YOKOHAMA SPECIE BANK
country as its centre, but ignoring Capital (fully paid up) this, it was clearly in our ignoring Reserve Fund
that our capital invested abroad should not merely be maintained,
Yen 100,000,000 QU Yen 134,400,000,00
HEAD Orrial:—YOKOHAMA
LIMITED
#108s
Wing On fertiles(S.)
Ewe Cotton Rts. ·9.
Pabis Udition
$13.0
Pork T-sus (old)
182 '310
801
Btar Ferries *******
$81
$240.
Yannati Ferries
54
$11.00 0.R. 310.9 C.R.
***
Chins Lights (old). 10.30 CA′′
Do.
$5.00
Do.
(DE).. Rts:
A
$52
$50+
1191
Macxu do.
144
$267
19.30
23/9
73-
Do
$1,
#
prem
H.K. Electrica ....
Perninkuu Lagliks .......
Tophones (old)
Do.
(new)
China Buses.......
Tractiona
(prof.)..
•
2
#261 30
$1,70
#12.40
#3,80
12.1
$94
$1.80 31,00
$16
Was ct./
313
Lane Crawlordu...
$71
$1,60 342
Industrial
Canton Icus
Comout
Rapes
Miscellanes US
Dairy Farma
Ch. Etsinmonta...... Construations, (old)
Do
Nanyang Tobacco.
Bincares
Watsone
S. C. Enterprises
Cu.G. 5210250. Bds
HK. Gorb, 4% Conos
Do. 31%
Wallace Harper
751.
prem. 177
花
140
B.K Wing Oo
Shal Do
$6
Vibro Piling:
21
Maremans Ir v. (Lon.)
1/6
(H.E)
is ela, Wm. Powolle
*****
Sales to Shenghai
LONDON EXCHANGE RATES
Paris
Geneva
Berlin
Athens
Milan
Copenhagen
Stockholm Shanghai New York
Amsterdam
Vienna
Prague
Madrid
Lisbon
Hong Kong
Dombay
Montreal
Brussels
Yokohama
Belgrade
Monte Video Rio
Bucharest
Silver (Forward)
Bliver (Spot)
War Loun
On London:-
(British Wireless · ServiON)
147-19/64
21.601
12.391
Dec. 16 147-17/84 21.81 12.39
94-15/36.
95-5/32
4.99-13/16 8.081
4.99-13/16 8.081
4.99-13/18
29.40
4.997 29.41
201
18-11/16 18-5716
31% 1011
Closing Quotations
December 20, 1937.
In view of the continued in- crease in the demand for electri- city, your Directors felt that it was prudent to construct at this time a larger power house than was at first contemplated, in order to provide for the installation la ter on of further generating plant as required. With the power house which we are now building, we shall be able to instal addition- a plant with very little incon- Tentence and practically no dia- turbance to the plant operating in the bullding. It is easy to under- stand that to have building opera- tions going on as an extension to a power house in which we have valuable and delicate machinery in operation is highly undersirable.
NEW SHARE ISSUED As my predecessor in the Chair mentioned, orders were placed last year for a 12.500 K.W. Turbo- Alternator and for a. 120,000-lb. Boller, and I am glad to say that we may look forward to these be- ing in operation by next Autumn.
In order to provide funds for our expenditure in connection with the new power station it seemed ex- pedient to offer to shareholders at $5 per share a new Issue of shares 78%
in the proportion of one to nine, $104 31urt and I feel sure that this will have had your approval. It was decld- ed to call up $2.50 per share at the present time: the remaining $2.50 per share will be called up when required but.. it is not anticipated that this will be earlier than the
1421
18-11/18 18-1/18 3% 101-11/16
ON NEW TORE:--
Bank Billa, on demand 30 15/18 Credits, 60 days' sight. 31 7/16
Telegraphio Tranater... Bank Bills, on demand 1/2 ON BATAVIA
Credits four months'
Fight.
|
M'factoring
Brooklyn-Manhattan
Trans
Brooklyn-Manhattan
$8 cum, pf. Case, J.I...
Canadian Pacfic Celanese
America
Cerro de Pasco CertainTeed P'ducts Chesapeake Corpn. Chesapeake & Ohto 3711 Chrysler Corpn. Columbia Gai & EL Columbla 6% "A" pí. Commercirl
Credit 36 Commercial Solvents. Commonwealth & 8. Commonwealth
cum pt. Consolidated Edison Consolidated Oll Continental Oil ... . Corn. Products... Curtiss Wright (C) Curtles Wright "A"
Delaware & Hudson
Del. Lackawanna
Western Distillers Corpn Bea-
grame Douglas Aircraft Du Pont .......
Bec. Bond & Share
$6 pf. Elec Power & Light 134 Elec Power & Light
$7 pí.
end of next funestoryneddy Rugowa amery Bond & Share,
The figures you have before you justify your Directors in recom- mending a dividend of 50 cents per share. In doing this, I should like Just to say that, whilst we see no reason to think that we shall not be able to maintain this rate of dividend, yet in times so full of uncertainties it is well that share- holders should realise that a fall- ing off in our earnings would make Gen. Electric
Gen. Foods .. it necessary to reduce the dividend. REPORT ADOPTED
It occurs to me that it will pro bably interest shareholders to know that this Company is in the fortunate position of having-ample supplies of coal both in stock and to come."
I now propose that the Report and. Accounts as presented be adopted and passed, that a Divi- dead of 50 cents per share on the "old" shares and 37.47 cents per share on the 1936 Issue shares be declared in respect of the financial year ended September 30, 1937, and that the undivided pro- fits, after the transfer of $80,000 to Reserve re General Managers' Rights, be carried forward.
Firestone Tire & R
introte
Gen, Asphalt Gen. Cigar
Gen. Motors
Gen. Railway Signa! Gillette Safety Razor Glidden
Gold Dust Goodrich (BF), Goodrich $5 pr.
Good rear
"OVERSEAS LENDING
Be Removed Restrictions Should.
༈༙ ༣ *
in
but grow.
"The whole economy of this country." it is added, is founded
BRANCES AND AGENOTES ATT
on a system of which overseas Alerandis Honolulu Rangoon lending is an integral part, Without Bangkok Hiking Bio: do
Karnobi the income from such investments Batavia
Berlin Kobe in the past, a wide gap would be Bombay The importance to England óf, trade follows a loan." Trade in left between our purchases of raw
Calcutta overseas lending, especially in this sense embraces not only trade materials and foodstuns and the | Canton
our goods and the benefit of exports of
manufacturers, Dairen relation to trade, is stressed in an article in the Westminster Bank foreign lending to our export which could not be filled unless a (Dalny) Nagasaki Singapore Monthly Review,`-
trade is undeniable-but also drastic medication of our indus- Fengtion Nagoya
(Mukden) New York Sydney financial, Insurance, shipping, and trial structure took place." other services.
In order to stimulate the reco-Hamburg Onka very of overseas lending, it is Hanko Otaru
Hong KongPeiping
ELECTION OF OFFICERS Mr. 8. M. Bander seconded the proposal and resolution, both of which were adopted unanimously.
Proposed by Mr. Fullerton 'and "It is an old saying," states the seconded by Mr. J. Edgar, Mr. J. P. article, that trade follows the Braga, OBE. and Mr. L., Kadooriefag and it is equally true that were re-elected directors for the
On demand
Get
1/31
ON PARIS:-
ON SWANGHAI:--
1
Bank Bille, on demand 9 0 Ofedits, month's sight 970
On Demand
104
Ox Bio:
"On demand
Kok. SingapO SAN ****
901
present year. The elections were unanimously approved..
On demand
821
OX MANTLE
On demand
DR. JAPAN
On demand
108)
O BANGKOK-
* Chavđamand
INDIA:---
Telegraphie Tranter
Bank ce demanded
There were still abundant op portunities, especially throughout the Empire, for the safe and sound
velopment of natural resources which had as yet been barely
Janeing San London Francisso Los Angeles Besttle Manila Bemarang Moji
Shanghai
Boerabays
'Tientain
Tokyo
Tsingtao Vinkow
stated that it is imperative that Harbin Paris
the semi-oficial restrictions on foreign lending which still exist.
Interset allowed on Current A- coumin, be removed. This would be a
for Fixed Depozite received. welcome step towards restoring Periods at rates to be obtained con the traditional freedom of the application.
Y. KANO, London markets, and would be
Manager This must strenghen the Empire" regarded as a significant indication
Hong Kong, 11th Sept., 1997. and thus be to the benefft of this of restored › confidence.
scratched.
The re-election of Messrs. Lowe Mark, and was unanimously ap-investment of capital in the de- Bingham and Matthews.
and proved, Linstead and. Davies as Messrs.
"At the conclusion of the meeting, 1494
auditors for the present financial the Chairman, announced that year was propposed by Mr. J. M. Dividend warrants were to be had 1/31/81 Jack and seconded by Mr. K. Č. un application at the Head Office. Basi Fatwyn. Der OB-feminizar 18.15/16-
Bevan Bank Buying
Rabo
ר!
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Private notes are available after approval.