1938-02-22 — Page 12

12

SHARE QUOTATIONS

Sharebrokers' Association

DAILY Hong Kong Stock

Exchange

Bo. (London).....] Chartered Banks... Mercantile Bks. "A"

Do.

Bank of East Asia...

HONG KONG DAILY PRESS, TUESDAY, FEBRUARY 22, 1938.

H. K. STOCK EXCHANGE

YESTERDAY'S

OFFICIAL

QUOTATIONS

TWO

BANKERS DISCUSS THE

TRADE SETBACK

MR. REGINALD

··MCKENNA

MR. RUPERT BECKETT

Mr. Reginald McKenna, presiding Mr. Rupert E. Beckett, presiding at the annual meeting of the Mid-at the annual meeting of the West- land Bank recently, said that when minster Bank, recently replied to Maret ruled firm and the gene looked to the future he saw those who constantly ask, "Are we "eral demand for shares still con-

tinues.

Providents (Old). $2.80. Providents (New), 80 cts.

Peak Trams (Old), $81. Y. Ferries. $25.35.

Eye11

Salern

Batre Noaming')

MONDAY,

Bayore

Seteru

Domina

FEB, 21.

Brake

$1,955 OD

H.K. Banka

CALL STAGE

OD

er.div. £8

XD

อย

$1,640 £83 $19

279

CH

£14

£14

142

192

N. O. & S. Barks ....

13

+*+

IDSKPROGES

BUYERS

3260

Canton lusurances..

$280

3605

$505

Union InsuraBOOM ....

$600

HK Bank, $1655 c.d.

$1,40

Underwriters

$1.4

Union Insurance, 3505.||

3840

H.K. Firos

$940

Shipping

China Underwriters $1.40. Douglases, $80.

$60

Douglas

100

Union Waterboats, $9.30.

#11

Bbeamb.be

551

Indo-Ubinas (pref.)

H.K. & K. Wharves, $129.

143 88/14

Do.

(dof.)

HR. & W. Docks, $29.

$43

Shell

88/11

18.30

Waterhouts

$9.30

Alining..

H.K. Lands. $33.

14/-

Kailans.

14%

H.K. Hotels, $6.80.

!:

371

#7

Wenczuck Gold Fldu.

H.K. Realtles, $5.30.

"Hongkong lines

HK. Tramways, $14.80.

Docks. WharveN,

Guitowns, ete.

$1291 $3,80

BỘ G

1261/9

20/85 30 C.

H.K. & K. Wharves.) 1128) Providents (old) $250

$129

$2.89

Di (new), 80 c. R.K. W, Docks $29)

$29

$39

3974 Shangasi Ducks S.

85

#B

New Edguseringes - S.

13

Telephones (New).. $9.20.

#

, li

hands, Hotels, and

Bu dings

$5,60

133

$6.80

H.K. Hotels

Dairy Farms, $25.40.

Jet

16.60

H.K Landis... 833

Watsons, $8.

Do. 4% Debentures

1100

$7

Metropolitan Lands..

Shanghai Landa S.

Lane, Crawfords. $7. Constructions, $14.

$5.30

.. Trioles... $5.30

Humphreys |

XD

38.2.1.

ISA

Chinese EstatOS ........

Catton Mills

$11)

Ewo

$80

S'ha Cottons ....

Zoong Singe

Wing On Textiles(5.)

Ewo Cotton Rta. S.

Pabile Utilities

$14.80

18+

$25.35

811

,:ལྦ་:

Tramways

$11.70 ID

(wow)...] 131

(83)

Star Ferries

Poak Trami (hi) .......) 161

Da

Yeamati Ferries $25)

China Lighte (old)... $11.io

Do.

China Lights (Old), $11.

China Lights (New), $1,80, H.K. Electrics, $50

whatever

he

"To take alarm at this juncture," he said. "ts hörmful and unwar- ranted. Our pace has slackened,

but our reserve of strength

in store for us."

and

BANKS

HONG KONG AND 'SHANGHAI

BANKING CORPORATION» "

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

Starling

....£ 6,500,000 H.E. Currency Reserve $10,000,000, Reserve Liability of

Proprietors

THE CHARTERED BANK OF INDIA "AUSTRALIA AND CHINA Incorporated by Royal Charter, 1853

HEAD OFFICE: LONDON: 38, Bishopsgate EC.2.

********** £3.000.000

|Reserve' Liability of Pro-

pristore...

Paid-up Capital........... $20,000,000 Reserve Fund .....

Head Office:-HONG KONG

Board

Board of Directore.

G. Miskin, Esq.,

Hon. Mr. M. T. Johnson,

£3.000.0%

£3.000.000

MANCHESTER · BRANCH: 71, Mosley Street, Manchester.

AGENCIES AND BRANCHES:

Chairman. Deputy Chairman.ALO STAR ILOILO

J. K. Bousfield, Esq.,

7. E. Pearce, Esq.,

A. L. Shields, Esq.,

Sir Vandeleur M. Grayburn,

AMRITSAR DANO DE BATAVIA

BOMBAY

SAIDON

MEDAN Chief Manager. DELHI

(Bhuket) TSINGTAO

A H. Compton, Esq.,

S. H. Dodwell, Esq.

J. R. Masson, Esq...

E. S, Morrison, Esq.,

Hon. Mr. J. J. Paterson,

CALCUTTA

CANTON CAWNFORE ČEBU

COLOMBO

IPOET KARACHI

KLANG KOBE XUALA

LUMPUR KUCHING MADRAS

SEMARANG

BEREMBANG

BMÀNGHAL

JINGAPORE

BITIAWAN

BOUBABAYA

TAIPING TIENTSIN

MANILA

TONGKAR

HAIPHONG

NEW YORK

Branches:

HAMBURG

..

Iloilo

Peiping

HANKOW

Ipoh Johore

Penang Rangoon

| HARSIN-

Chefoo

Colombo Dairea

Kobe Kowloon Kuala

London

Saigon

San

Lumpur

Lyons

Francisco

PRIPING

YOKOHAMA

(Peking) ZAMBOANUA

PENANO

RONG LONG BẠN GOO

FOREIGN EXCHANGE and General Banking Business transacted.

Hotels have been done at no ground for pessimism, accord-heading for a slump?" $8 and Cements at $15. Lights įng to the Manchester Guardian.

"We must not. It is true," "Old" at $11.30, Realties at 55.40,

said, "underrate the importance of and Providents "New" at 85 cts.

American developments in ther effect on other parts of the world. our stamina should sustain 113 If the recent shrinkage in Ameri-through the present vicissitudes can business should for any reason and enable us fully to play our persist. then it seems likely that part whatever the future may have

slow but substantial growth ri world

which his trade,

been

Mr. Beckett said that the doubts gathering strength until the mid- dle of last year, may be definitely that gave rise to the possibility of a slump had allready caused arrested.

"With a decline in total trade it some impairment of that con- becomes all the more important fidence which was the essence of up-business prosperity. That our re- that we should neglect no |portunity of expanding cur exports, covery could continue indefinitely, other pressure may be without Intermission, was not to

movement Amoy aut upon our productive capacity. be expected, and the The special rearmament demand is recently perceptible was at present Bangkok temporary only: the maintenance only a slowing down of activity. Batavia t our export trade is a permanent liable to attract exaggerated atten- Bombay necessity. Against the ill-effects tion when it succeeded a long Calcutta

Canton of a possible recession in inter- period of unbroken progress.

Shanghai CURRENT. Accounts opened and national rade must be set the fact

GRADUAL GROWTH"

FIXED DEPOSITS received for One Singapore that we are favoured by far health-

Year or shorter periods at rates Sourabaya Hier basic conditions than existed "The steadiness of our recovery! Foochow Malacca Sungei

which will be quoted on applica- tion. Patani prior to the last slump. Our In-from the depression," said Mr.Haiphong Manila

Tientzia

The Hamburg Muar

Bank's Head Office in dustry is financially and technical- Beckett, "suggests that it is of a

Hankow (Johore) Tokyo

London undertakes Executor and ly stronger. In addition, world permanent and long-term char-

Mukden Harbin

Trustee business, and alsims re- Tsingtao markets' are not generally over-acter, much more likely to endure

covery of British Income Tax Hongkow New York Yokohama burdened by vast stocks of mater- because of its gradual growth

overpaid, on terms which may be lais, and producers are better or The growth of our trade has been

Current Accounta opened in ascertained at any of the Agencies ganised to adjust their output to mainly on natural lines, and the Local Currency and Fixed Deposits and Branches. demand.

R. W. ROBERTS; success achieved so far has been received for one year or shorter AMERICAN INFLUENCE

without' recourse to extreme ex- periods in Local Currency and

Manager. "While, therefore, I do not pedients such as those being tried Sterling on terms which will be minimise the importance of Ameri- in other countries." A Stock Ex-quoted on application, can influence on us. I think it change decline was frequently Also up to date Safe Deposit would be wrong to deduce from re- given an unnecessarily pessimistic Boxes in various sizes To Let.

caused a TA- cent commodity and Stock Ex-Interpretation and

Hong Kong, 12th May, 1937. change movements that we are striction of enterprise in the com- necessarily on a lasting downwardmercial and industrial spheres.

HONG KONG SAVINGS BANK curve. The clearing out of a spe- culative position, although accom- panied by a severe fall in prices. is not, in the long run, bad for markets, he declared: "Fortunate- HONG KONG & SHANGHAI An American Bank offering com.

Macao Electrics. $194... Telephones (Old), $25.90.

Cements, $14.90.

H.K. Ropes. $4.60

HK. Cove. 4 Loan, $24pm. Wallace Harpers." $51. Marsmans (#K). 4/9

#11.

$56

824

Si

*32

383

-28.35

$7.0

(new)...

$8

Do. Rts.

1031

$591

H.K. Electrica .....

239

$599

Macao do.

#14)

$15.90

$25.90

19.20

22/6

Do. Tractions

(DOW).

Du. (prof)

Industriala

Sandakan Light# ...

Telephones (old) ... $25)

$14 Cald, neg. (Ord.)

Do.. (Praf.)S Canton Icon

$9.20

CD

93/

13

$1.70

$1,80

$14.80 $15.70

14.60

Cements

$14.90

Rapos

$4 65

Miscellaneous

$35.49

$25,30

$6.30

81

404

371

日

$6

108W)

Dairy Farma

Ch. E'tainment................ Constructions, (old) st

Do.

Lane Crawfords............. Nanyang Tobacco...

Sinceres

Watsons

. C. Enterprises....

65% CLG 5X1926G. Bd.

I.K. Govt. 4% Loans

$74

1.80

86,10

60%

$1014

$100

pár

Do.

31%

Wallace Harpor

$38

H.K Wing On

S'hal.. Do

$43

56

Vibro l'iling

19/9

Maramans triv. (Lon.

(H.K.)

stu

Wa. Powells *Sales to Shanghai

LONDON EXCHANGE RATES

12.401

951

SELLERS

Peak Trams (Old), $31. Bements. $15.10.

SALES

Union Insurance, $505. H.K. & K. Wharves, $128/9. Providents (Old). $2.80/85. Providents (New)," 85 cts. H. & S. Hotels, $84. HK Redities, $5.40. Star Ferries, $831.

China Lights (Old), si1.30. H.K. Electrics, $59. Telephones (Old), $25.90. Cements, $15. Watsons. $8. Antamoks. 58 cts. Atoks: 261 cta. Baguio Gold. 23 cts.

Benguet Consol. 59.80. Coco Grove, 61 cts. Consol. Mines. 011 cts. Demonstrations. 41 cts. I..L.. 69 cts. --

Paracale Gumaus, 27 cts. San Mauricio, 61 cts, Suyoc Consol., 19 cts.

United Paracales. 49 cts.

PHILIPPINE

MINING NEWS

Dealing with the inдuence of the

American stock and commodity 1y, recent news from the United States has been more encouraging and the view is gaining ground that the next few months will see

trade. Indeed, there are signs al ready that the depressing effect here of the American closing down of purchases of capital goods has spent its force. and that the under a resumption there of the recovery lying factors. making for wider in-movement. More important than dustrial activity are again coming any other single factor will be the into play. The great business of this country will still go on.",

Mr. McKenna sald we had now had a sufficiently long experience

relations between the American Government and business interests: and it is upon the resolving of their differences, and the growth

of a managed currency to enable a spirit of co-operation between them, that the future prospects, us to form an opinion of the gen not only of America, but of the eral effect of its operation. "Muchhole world. largely depend.

Bank is conducted by the THE Business of the above

BANKING CORPORATION. Rules may be obtained on application.

For the HONG KONG & SHANGHA BANKING CORPORATION.

J

V. M. GRAYBURN,

Chief Manager.

Hong Kong, 1st March, 1937.

BANK OF EAST ASIA. LIMITED.

Authorised Capital $10,000,000.00 Paid-up Capital ...... 5,688,600.00 Reserve and Undivided

Profits.......

2,776,728.76

Head Office:-HONG KONG

had to be learned and is being learned," said Mr. McKenna, “but- "Our home' market to-day." Mr. however difficult it may, be to put Becket said in a later passage, "is on one side the Ideas to which long tourishing, but if it is prospering. v. 10, Des Voeux Road, Central. usage of the gold standard has even to a limited extent, at the accustomed us, we find in practice expense of export trade, this is that the system. is working smooth- a price we can. I afford to pay.

Board of Directors:--

Sir Bhouson Chow, Chairman

In the lant of our present Our essential dependence upon im-Kon Chun, Esq. Li Lan rang, Esq. knowledge a managed currency can ports for so large a part of our P. R. Kok. Esq. WoszChuSon, Esq. no long be regarded as a mere food and raw materials makes a Wong YunTon Eng Kan Ying Po Sa PHILIPPINE MOVIETONE Comtemporary makeshift while the further development of export Chan Ching Shek Fung Ping Walt, pany is at present under organ-gold standard is in abeyance." ization to engage in making of

11

Itrade an Inescapable obligation.”

motion pictures with a proposed GOLD MINING IN JAPAN'S ADVERSE

26 capital stock of P500,000 at a par value of one peso per share, ac- cording to an announcement dis- tributed yesterday by the organi [zers. The men behind this venture

70 cts,

MALAYA

are Hernande R. Ocampo, Abelardo Manv Denosits But

Hokson, Tiburcio L. Papa., Justino

Dizon, Juan E... Ruiz, Celso M. Sanvictores, and Max. L. Nubla.

Difficult To Mine

Eac

Faq.

Kan Tong Po, q, Chief Manar

Li The Fong, Esq., Manager.

Lowy

BALATIA

Bomber

Lieutta

Clapbout

TRADE BALANCE

February Figures Add To Unfavourable Total

Tokyo, Feb. 21. Haiphong Japanese trade for the second | Resolulu 18-day period in February resulted Kobe

Hankow

Branches and Agencies :—

Kowloon Penang Mourabaya

London

Kaula

ZangOOD

Awalow

E

Jalgra Byday Kelbourne San Fran Taiheka 3 ngusali

risce Sew York Sunctio Tokyo Union

Semarang Vancouver Marta Yokohama Palping Bingapore

Purin

THE CHASE BANK

15, QUEEN'S ROAD CENTRAL

HEAD OFFICE:

18, PINE STREET,

NEW YORK.

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 YORK, with Resources" over U.S. €2,300,000,000,"

D. M. BIGGAR,

Manager.

•

BANK OF CHINA

THE NATIONAL GOVERNMENT Specially Chartered by

OF CHINA AS AN " INTERNATIONAL EXCHANGE

BANK

PAID-UP CAPITAL...$40,000,000.0* (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 Clients special facilities for Domestic and Foreign Banking and Exchange.

Head Office: SHANGHAT

Hongkong Branch:

1. QUEEN'S ROAD, C. South China Offices:

Gold-Bearing quartz is wides- In an adverse balance of 5,102,000 Every description of Banking The company has already engaged |pread in Malaya over an area ex-yen, the Finance Ministry announ- and Exchange business transacted. | CANTON A the services of Fred A Jefferson tending from the Blamese border ced last night.

Loans granted Vion 'approved SWATOW

as production and technical man-in the north to the States of Negri Imports for the period totalled securities... ager. Mr. Jefferson has

many Sembilan in the south, through 63.643,000 yen, while exports rea- years of experience in the motion the central portion of the country,ched 58,541,000 yeni. pictures industry in Hollywood, it

A report to this effect has been Total unfavourable balance since was said.

made by Mr. Thomas McEnelly, an January 1. is 43,881.000 yen GOLD BAR MINING COMPANY American now resident in Singa-uter); recently reported that progress pore. to the United States Bureau ot work on its property in Trin (of Mines.

(Re

of steeply dipping bed' of calça-

KONGMOON TOISHAN KINGCHOW

Current Accounts opened in Local SHIUCHOW Currency and Fixed Deposits re- We also handle the issue of Bonds ceived for one year or shorter and other Public Funds of the periods in Local and Foreign Car- rencies on terms which will be Chinese Government both at Home quoted on application.com

and Abroad. Safe Deposit Boxes To Let.

SHOU I. CHEN. KAN TONG PO,

Chief Manager.

Manager.

.....

THE YOKOHAMA SPECIE BANK

LIMITED

Capital (fully paid up)

idad. Mountain Povince, has pro- But, unhappily, few Malayans reous shale. in a zone about three duced encouraging results, and ex- are likely to grow much richer miles long, bear the Bukit Kajang tensive exploration and develop through exploitation of Malayan range of granite porphyry. ment work is being pushed. The gold elds, for Mr. Mchnelly Alluvial gold is disseminated over property consists of two groups, qualines his report with the state- an area of Malaya extending from

OFFENCES IN the first one contains 27 gold lode ment that the inaccessibility of north-east to south-west through

HARBOUR claims in Trinidad, and the second the

junglecovered mountains the States of Kelantan, Perak contains 11 claims in Sabian, near where the deposits are found make Pahang and Selangor, and it is re-

Marine Court Items the Gold River and Bagulo Gold

Lo Kang-chol, unemployed, of prospecting and mining operations covered as a bye-product of tin extremely difficult.

mining. The largest deposits are 22 Centre Street, appeared before Reserve Fund "Furthermore," he says, "the found in a district near Bidor, in the Han. Comdr. GF Hole at the

Head Office: YOKOHAMA deposits are generally unsuitable the State of Parak from which Marine Court yesterday charged for large-scale operation. Lana came about 4,000 oz. in 1934, 8.500 with having: unlawfully deposited

BRANCHES AND AGENCIES AT! shaped masses of gold bearing oz. in 1935, and 7,000 oz. in 1938, rubbish in the harbour and was Alexandria Honolulu Rangoon 22,500,000 TOYS SOLD quartz have been located in Fhyl- Alluvial deposits were formed by fined $5.

Bangkok Heinking Rio do

mining companies, Beveral tunnels

have already been advanced and workings are being pushed at depth,

Paris

Geneva

Berlin

Athens

Milán

(British Wiraiass Service)

Feb. 17 152-27/32

Feb. 19

152-20/16

21.607

21.591 12.401

95-13/16

Copenhagen

Stockholm

Shanghai

New York

Amsterdam

Vierna

Prague

19.401

5:03-1/18

8.961

5.02-1/10 8.90-11/16

il

1421

1421

Helsingfors

Lisbon

Hong Kong

Bombay

Montreal

5.02

1

Brussels

*29.551

5.017 29.53

Yokohama

Belgrade

Monte Video

211

Bucharest

Rio

Sliver (Forward)

Silver (8pot)

War Loaz

194 19-5/16 31% 102-15/16

19-7/16 19-15/16

1

Closing Quotations

Falcon 21, 1938.

ON LONDON:

Telegraphic Transfer...

Bank Bills, on demand

} 1127

ON BATAVIA A

On demand

Credits, 4 months' sight 1/3

ON PARIS:

་

ON SHANGHAI:-

On demand

1044

551

Bank Bills, on demand 940 Credits, 4 months' sight 1,000

ON SAIGON:-

ON SINGAPORE:

On demand .....

On demand...

521

ON MARIJA:

ON JAPAN:

On demand

02}

On demand

1081

ON BANGKOK :---

On demand

1481

ON INDIA!--

Sovereign Notes

Telegraphic Transfer.

Bank, on demand

92

BAR SUVEL per oz .................

19 15/16

ON NEW YORK:

וי

About 22,500,000 toys were

currences like these."

Kobe

Yen 100,000,000,00 Yen 134,400,000,00

...

Tokyo

Use, and thin unpersistent veins the erosion of mineralized schist Charged with having anchored Batavia Karachi !Janeiro are known also in granitic rock and phyllite near the granite of his trading junk No. T.2343 within Berlia

San Ped Loncion and dolerite, but successful lode the mountain ranges and from the limits of the Victoria cable Bombay

«Francisco bought during the Christmas mining calls for deposits that can erosion of similar rocks near occur- grounds on the night of February Calcutia Los Angeles Seattle. season according to statistics Field a steadier production than rences of foliated granite.

19. Ho Klu, master of the craft, Canton Bank Bills, on demand 311/18 issued by the British Toy Manu-is to be expected from erratic oc-

Manila Semarang Dairan Moji

Shanghai Credits, 60 days' sight 211

Gold-bearing quartz veins and was found guilty and ined the facturers' Association.

(Dalny) Nagasaki Singapore that 01

stringers in the bedrock underlying sum of $10. per t

Fengtien number 15.750,000, valued

Nagoya Boèrabaya at

Chan Bam, 34, female- cook on the alluvium furnished a portion 13 MINES OPERATING £1,071,250, were of British manu-

(Mukden) New York Bydney the board the launch 1550V, was cau-Hamburg Osaka Tientsin There Bome 13 lode mines were in of the recovered, facture:

betioned by the Magistrate when she Hankow Otarit Since 1922 the number of operation during 1938, but only bedrock is soft enough to

Paris Tungtao British toys sold has risen from one, owned by Raub Australlan broken up by water, although min appeared to answer a charge of Harbin about 10 per cent. of the total to Gold Mining Co., Ltd. In the State Ing operations are directed pri- having moored ber boat at a dis- Hong Kong Peking

Current 70 per cent. So rapid has been of Pahang, produced in consi-marily to working the overlying tance less than 100 yards trom the Interest allowed

sand, gravel, and low water mark near the Hol On Accounte the growth of the British toy derable quantity. Of the total 1935 deposits of

for Fixed industry that" at this

year's Malayan production of 38,539 oz. sandy clay. Buch veins have been Wharf on the night of February 19. Deposits received

Periods at rates to be obtained in weathered foliated British Industries Fair it will have this company produced 28,858 oz. mined

on application;! panied by cassiterite, the propor-

Y. KANO, the biggest section at Olympia, The fode deposits of the company granite, schist, and phyllite.

almost vertical fault In several mines year Bidor, tions by weight of the minerals an entire door being devoted to occupy

Manager, 1/1/19 the trade for the first time. fasures, farallel with the strike gold in alluvial departs is accom- being about 1 to 4.000

Hong Kong, 14th Fab., 1938.

Bank Buying Rate

..

... Yinkow

49