1938-10-11 — Page 12

PAGE 12-HONGKONG DAILY BRESS

DAILY SHARE QUOTATIONS Hong Kong Stock Exchange

$1,465

SATURDAY.

Sharebrokers' Association

Icon) Bellors"

Balon

M

OCT. 8.

Buyers Ballers Sales WaminA

Make

$1,460

£1

es9

£101

£131

Bank of Best 'Asia .......

1890 3610

$1

***

H.. Banka

Do. (Col. Reg.).......

£80 Do. (Lon. Beg.)}

2104 Chartered Banks

$39

Mercantile Bkı “A”

£134. umasatla Bk. “C”

IN. C. & S. Bagku

N Lesaranoid.

Canton InsuTANCES..

Union Istrancan

| Underwriters

1:00

FINANCE

BRITAIN'S JULY TRADE RETURNS

Large Drops Shown All Round

ADVERSE BALANCE

£31.9 MILLIONS

Britain's Imports, exports and re-exports in July, 1935, showed Large declines in value as compared with the same month of 1937. As compared with July, 1936, Imports showed a considerable increase but exports and re-exports both showed substantial decreases. The ad- verse balance of visible trade was £31.9 millions in July, 1938, as compared with E31.1 millions in July, 1937. and £23.6 millions in July. 1936.

$285 #1

1500 HK. Fires

$68) Douglass

$88!

Imports of food, drink and to- bacco 'increased substantially as

$30

Steamboats ............................

$30

compared with July. 1937, but

180

Indo-Chinas (Frol.).

$80

there was the large decrease of

124

Indo-China (Deči).

124

Shella

60/41

17/6

89/4

; Waterbosta .............

bining

17/6 Kailans ................

$9,70 Baubs

$3 Venezuela Gold Fida

17 cta. Hong Kong Mine......

Docks, Wharves,

Godowan, s.

H.K. & E. Wharves.........

Providenta (old).

Providente (new)(a)

0129

$128

*4*

**

98.80

$8.00 $8.85') #8.80

$19

H.E. & W. Docks....

$194

$19

$17.20

$7.10 $7.05 $38,60

Do.

$126 Shanghai Dooks 8. .... $3.50 New Enginearings B.

Lands, Hotels," and Ballding.

H.K. Landsbe

$107 Do 4% Debzetares

Shanghai Landa S.

FLK. Benities ...............................

- 89.80 † £famphrey.

198

Chinese Estates nos Cotton Mika.

$18) Ewon (8.) augusien

$5.80

$11.15

369

***

Tramways.

Foak Trazzi (DeW) -------|

Star Ferries........................

Y mati Ferrier C.R.S

Do. (new)

China Lights (old)...... $1!

101 bins Lights (new).....

H.K. Electrics59

010

3174co Electrics......

Sandakan Laghta Jovan Telephones (old). Telephones (new)......"

Tractions izayonnement

28/3 Tractions (prát.) ................

Industrial

$20

·251.

32

+++

$8,00 $6.20

171%

347)

$6.20

ヤ

$19

$120

ม

$106

$6.20

$8.30

Australia

19.5

9.2

11.3

24

New Zealand Canada These six Empire markets each £7.131,101 in Imports of raw meafford more

employment in the terials and nearly as large a de UK. than that arising from ex- crease, namely £6,893,000, in the ports to the USA. Taking the imports of manufactured goods.

Dominions, the situation can be or this decrease, the largely non-expressed roughly as follows:- competitive aheadings of non-fer- rous metals and olls were respon sible for £2,542,000, while as a re sult of the restoration of the fron and steel duties, the imparts of iron and steel tell by £1,057,000, "so that in respect of all other manu-13 much as one American.

One Australian. buys, 42 times as factures there was

much as one American. £3,194,000.

One Canadian buys 15 times as much as one American!

a

drop of

The exports of manufactures fell by £8,439,000, there being a drop in the case of every heading ex- cept machinery.

DISTRIBUTION OF TRADE || The July "Board of Trade Jour- nal" contains the customary article on-the-geographical distribution of Britain's trade during the Arst quarter and the first half of the year 1938 with comparable statis- Lics, for the two previous years. The following table contrasts the posi- tion in the Arst half of this year and of 1937 as between Empire and Foreign countries:-

Six Months Jan-June

countries 34.8

It will be seen that exports of United Kingdom goods to Empire countries düring a whole half year exceeded those to Foreign countries. This is the first time this has ever happened.

One" New Zealander buys 90 times as much as one American,

One 8. Irishman buys 40 times as much as one American.

One South African bugs 34 times

01

WOLFRAM EXPORTS NOW CONTROLLED

RICH RESERVES

IN CHINA`

Export of wolfram and tungsten ores, which are found in abun- dance in Kiangst, Kwangtung and Hunan as well as in Kwangsi, Fuklen, Hopei, Yurnan and Kwel- chow, have for some time been controlled by the Natural Re- sources Committee of the Military Affairs Commission.

TUESDAY OCTOBER 11, 1938.

PAYNE & CO.

COMMODITY BROKERS

STOCK EXCHANGE BUILDING

HONG KONG

BANKS

HONG KONG AND SHANGHAI THE CHARTERED BANK OF INDIA

BANKING CORPORATION

AUSTRALIA AND CHINA

14

A special bureau to deal with authorised Capital $50,000,000 Incorporated by Royal Charter, 1856 Issued & Fully Paid-Up #20,000,000 | Reserve Funds |

Sterling.............i

this particular minerál has been established, with headquarters in Nanchang.

No accurate statistica LIC avallable concerning China's reserves of wolfram, but it' Estimated that the provinces listed possENS

no less than 949.000 tons. Klangs generally produces about 65 per cent, of the yearly total.

During the Great War, China exported no less than 10,000 tons. The following are the exports for selected years-In 1928, $2,820,863;

1936. $9,343,284: 1n

In 1937. $40,758,592; from January to Au- gust 1938, $38,518,808. Of the last £gure, $33,202,861 worth was ported through Hongkong

ex-

agreement with a foreign country which contemplates increased ex- ports of food stuffs to Great Bri- for any trade taln.

About 50,000 farm labourers left British farms in, the last year and this fact must be borne in mind in the negotiations

NEW YORK STOCK EXCHANGE

(Through Rester's Service)

$4.65 Rop

$26

Miscellaneous

Constructions (ok)...........

| Construction" {now).

Laus Crawfords.

Nanyang Tobacco.....

Sicures

Watsons!! Ch.9.5%19250.3Bds.

H.K. Gort, 4% Loans.

H.K. Gori, 3]% Loses

HK. Wing Caps S'hal Wing Op

$6,95 Vibro Piling 15/0

Marsmana Khu, (Lon.)

Kola Win, Powalls

LONDON EXCHANGE

まる髪

36.40

190 ct.

RATES

Oct. 8 178-29/32 21.00 11,94

4.78-5/16 8.80

than her foreign markets and ac- cordingly this emphasises the im- of Imperial Preference. portance

gravely, threatened by the proposed Anglo-American trade agreement.

now

7

The

TRADE WITH THE UNITED

**** STATES The ELA. feels as strongly as H.M. Government or as any section of the British community on the desirability of close and friendly relations with the U.S.A. and would regard with great satisfaction the expansion of mutually advantage- ous Anglo-American trade. cold hard facts of the existing commercial relations between the two countries must. bowever, be faced and the effects of tariff con- cessions to the DBA examined in the light of the continued employ- ment of our British workers."

The concern with which the ELA regards possible tariff changes favourable to USA export trade with Great Britain is based upon the most récent figures avall able, as follows:-

Borg-Warner

riggs. Mfacturing. Brooklyn-Manhattan

Trena.

Brooklyn Manhattan

$ë cum pf. Canadian Pacific.... Case, J.I....... Chesapeake & Ohio 341

*19 Chrysler Corpn. ....... Columbia Gas & E 71 Columbia 6 "A" pt. 75 Commercial Credit....... Commonwealth & 8. Commonwealth &&

6% cum D. 401 Consolidated Edison 281 Consolidated Off Continental Can Continental Of

認

Chang

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

Proprietors

HEAD OFFICE:" LONDON: 38, Bishopsgate EC.2. Paid-up Capita} ....... £3,000,000 £3,000,000 „$90,000,000| Reserve Fund

Reserve Liability of Pre- \

priators........ £3,000,000

Head Office: HONG KONG

Board of Directors.

T. E. Pearce, Esq., Chairman. Hon. Mr. J. J. Paterson,

Deputy Chairman.

J. I. Bousfeld, Esq., A. H. Compton, Esq., Hon. Mr. S. H. Dodwell, W. H. Lock, Esq., G. Miskin, Esq.,

K. S. Morrison, Esq.. Hon. Mr. A. L. Shields, H. V. Wilkinson, Esq.,

·Sir Vändeleur M. Grayburn,

Chief Manager

Amoy

Branches:-

Ipoh

Penang

Bangkok

Johore Rangoon

Batavia

Bombay

Calcutta

Kuala

Kobe Saigon Kowloon Sa

Francisco

Canton Lumpur Shanghai Chefoo London ~Singapore Colombo Lyons Sourabaya Dairen Malacca Sungei Foochow Manila Patani Haiphong Muar Swatoy Hamburg (Johore) Ticatsia

Mukden Tokyo New York Tsingtao

Yokohama

Hankow

Harbin

Hongkew

Alaid

Peiping

in

Current Accounts opened Local Currency and Fixed Deposits received for one year or shorter 1.34 up periods in Local and other cur

17 aprencies on terms which will be 32 up quoted on application,

*xi up .05 att

Also up to date Safe Deposit Boxes in various sizes To Let

Hong Kong. 7th October, 1938.

RỘNG KONG SAVINGS BANK

The Business..of the above Bank is conducted by the HONG KONG & SHANGHAI BANKING COR- PORATION. Rules may be ob tained on application.

For the HONG KONG & SHANGHAI BANKING CORPORATION.

V. M. Grayburn,

Chief Manager.

..

MANCHESTER BRANCH: 71. Mosley Street, Manchester.

AGENCIES AND BRANCHES: ALOE STAR

HONG KONG PENANG AMBITSAR ILOILO

IPOK KARACHI

BANGKOK BATAVIA

BANGDON

MAION

SEREMBAN

BOMBAY

KLANG

ЗНАКОМАЯ

CALCUTTA EQUE

SINGAPORE

CANTON CAWNPORE СЕВС COLOMBO DELHI

KUALA

SITIAWAN

LUMPUR

"SOURABAYA

KUCHING YADEA3

TIENTSIN

MANILA

TONGKAH

HALPHONO MEDAN

(Bhuket)

HAMBURG

NEW YORK

BANKOW HARBIN

TAIPING

TSINGTAO

PEIPING YOKOHAMA

(Peki: g)

FOREIGN EXCHANGE and General. Banking-Business-transacted.

CURRENT Accouts opened and FIXED DEPOSITs received for One Year or shorter periods at rates which will be quoted on application. The Bank's Head Öffor in London undertakes Executor and Trustee business," and chaing re- covery of British Income”* Tax overpaid, on terms which may be Ascertained at any of the Agencies and Branches.'

R. A. CAMIDGE,

Manager.

THE CHASE .BAŃK

is, QUEEN'S ROAD CENTRAL

·HEAD OFFICE:

18, PINE STREET,

NEW YORK. -

An American Bank offering com plete Foreign Banking Service in the principal Markets of Interest Rates an Application.

the world.

SAFE DEPOSIT BOXES

This Bank is entirely owned by THE CHASE NATIONAL BANK, NEW YORK, with Resources over C.S. $2,500,000,000.

D. M. BIGGAR.

Manager.

191

[18]

$87

S'hai Cottons (8.) ..........1

824

Zoong Sings (8.)......

Wing On Tartiles (8.)

$24 $42

Public Tillie

17,08/10

$17.10 $17

Peak Trams (old)......

34

· 1944

Imports:

$234

(£ million)

1937

QUOTATIONS

1938

"From Empire

1938

10.60

સારી

countries. 199.7 191.2 From "foreign

High Low Dow Jones Averages,, Oct. 8. 14141 98.85 30 Industrial

148.41

82.77 19.00 10 Rails

30.14

countries 283.7

278.4

22.85 15.14.30 Utilities

20.80

Oct. 8, 1938. High Low Close 150.00 148.46 148.75 31.00 30.37 30.91 91.13 2097 21.12.

$253

Exports of

99.70 83.39 10 Bonda

89.52

U.K. Goods

$9.0045.03 11 Commodity Index 48.47

99,23 48.42

To Empire

Business Dona:-1,119,000 shares.

countries 119.3

117.2

To foreign

STOCKS

Last Bale

STOCKS

$14

Cald., Macg. (Ord.) 8.

countries 131.9

116,0

Oct. 7 8

Last Sale Oct 17 8

$13

Cald, Mang. (Prad.) 8.

Re-Exports

Adams Express

$1.70 Canton Lon

$1.80

Cemente 43 -

$17.15

To Empire

$17.20

countries 5.7

K

To foreign

11 Alleghany Steel Co. 181 5.7 Allis Chalmers....... 531

Amerada "Corps.

12

13

Great Western Sugar' 284 Greyhound

29

Corpin 181

187.

Hecker Productą 531

81.

8

717

711

Int. Nickel

523

541

27.1

Dairy Farma m

$253

Chi E'tainments

Amet. Can........................... 1031 Amer. & For. Fower 41 Amer. & For. $7 pl. 204

1034

. Tel. & Tel.......

118

111

41

Rennecott Copper....

464

471

211

Libbey-Owens- Ford

Amer. Locomotive... 211 Amer. Metals

Glass

389"

571

387

99

Lockheed Aircraft 151 151

Amer. Radiator

178

18

Lew's inet

531

541

Hong Kong, 7th October, 1938.

7112

$100 $101

3476

It shows that during a period of trade recession Britain's Empire arkets are much more stable

Amer. Rolling Mill... 189 Amer. Smelting

191

Martin. Glen L

24+

25

·52-

533

McKessor, & Rob-

BANK OF EAST ASIA,

Amer. Bugar Ring... Amer. Tel & Tel ... Amer. Tobacco "g" 88 Amer. Waterworks

24

261

bins. $3 pí....

344

146)

147

Monsanto Chemical

341 97 971

LIMITED.

10

88 11

Montgomery Ward... 401

51.

3/4

Maramans Inv. (H.K.)

*Baits to Shanghai

Paris

Geneva

Berlin

Athens

Milan

Lisbon

"Prussels

Rio de Janeiro Copenhagen

Oslo. suver (Forward) Silver (Boot) War Load

- UW LONDON!--

Closing Quotations

October 8, 1938.

Telegraphic Transfer... }1/15 Bank Bills, on demand J. Credits 4 months" sight: 1/3L

Ox BHANGHAI ? -

US-Nɛw Zom÷-

UN BATAVIA:

ÚN PARIS Tumori fica

(British Wireless Service)

Oct, 3

178-31/32

21.021

7.931

5:47+

92a

1101

Stockholm

19.411

Shanghai

84d

New York...

4.791

Amsterdam ....

8.31

Vienna

Prague

140

Helsingfors

2264

Bucharest

660

Hong Kong

1/3

Bombay

1/5-15/16

Montreal

4.83

28.30)

4.821 28.30

Yokohama

1/2

Belgrade

210

Buenos Aires

18.991

Monte Video.

101

2-15/16 22.40

194

.29

18-7/16 19-9/18

31% 101

Anaconda Copper Atchison. T. & 8. Fe. 38 Auburn Motors ...... 41 Baltimore & Ohio ... .. 84 Barber & Co. ..... 22 Barnsdall Oll......... 171 Bethlehem Steel 621 Boeing Airplane Co. 263

38 381

Nat: Dairy Products 141 Nut. Distillers ........

14%

Authorised Capital 810,000,000.00 Paid-up Capital

5,388,600.00

--

25毫

26

• 401

Nat. Power & Light

7

Reserve and Undivided

72

Profits

2,778,728.78

48

Nat. Supply Corp. 171

174

83

New York Central ...

191

201

211 17

N. America Aviation

92

101

North America Co. 21

22

031

Northern Pactic...

124

13+

SARANA J

201 35 351 352 361

103 11

337

Pacific Gas & Elec

28

271*

it

Pacific Lighting

Packard Motors .......

$397 .5

· 391*

51

32 *

Paramount Picture 12 Pennsylvania R.R.' ... ' 214 Phillips "Petroleum 397 |Public Service of NJ, 301

121

221

38-

301

64

19

Pure Of

91

02.

101

1021

Radio Corpn. of Am.

BI

81

351

Republic Steel ..

197

191

AMOT

Batayle

801

Reynold Tobac. "B"

43

44

Body

74

Schenley

181

191

Canton

751*

Schenley, 54% pid... 71, *

73+

Bajhang

532

531

Sears Roebuck

76

771

Baska Bogoisty

Paris

11

11

Shell Union Oll

16

Kobe

Hingapore Pelping

Socony-Vacuum Oll

14

134

40

Bouthern Pacific

19

203

Southern Bly $5 pid. 23

251

and Exchange business transacted. Loan granted

-approved

Standard Brands .......

8

$

securities.

444

451

Stand Gas & Elec. 4

41

Jan.-June (£“millions)

291

281

Standard Oil of NJ. 53.

53

U.K. Imports

1937

from USA 47.0

Com. Products 1938 Curtis Wright (C) 63.5 Curtiss Wright "A" 24

69.

701

Stone Webster ....

101

11

5+

51

Swift International 274

271

241*

Technicolor

22

211

rencies

on

U.K. Exports

8.8

Bank Billa, on demand 293 Credita, 80 days' aight (30),

On demand...

On demand

170 tom

Bink Bills on demand 1,100 Gredits, 2 months” sight 1,188 UN BALGOW

ÚN SINGAPORE (***

We On demand

110

This half-year we bought £164 | .~37 pr. millions more from her than in Flintkote.......... the same period of 1937. while the Gen. America Trans 50" bought from us £10.9 millions less. Gen. Mectric intim

The following table contrasts the Gen. Motora. „ USA as a market for British goods Gen Railway Bignal 23 with the principal Empire Markets: Glidden Co.

Exports of U.K. good wood (24

A to U.S.A 18.3

to U.S.A

UK Re-Exporte

It would thus appear that the U.S.A. now sells us seven times as much A she buys. British goods from us, or five times as much as pho buys British and imported goods from us. A

Eagle Picher Land 118 111 Elec. Bond & Share 8t Elec. Bond & Share

Distillers Corp. Sea

Texas Corpn... 434

434

quoted on application.

grams

187 Douglas Aircraft · 501 51

141-142) 3.4 Du Pont.....

171

Texas Quit. Bulphur 33

331

Head Office-HONG KONG No. 10 Des Voeux Road, Central.

Board of Directors:

Sir Shouson Chow, Chairman

Li Koon Chan, Esq. Li Lan Bang, Esq.

WongChuson, Esq. P. K. Kwok, Esq.

Wong Yun Tong, Esq. Kan Ying Po, Esq. ChanCbingBhek, Esq. YungPingWah Erg.

Kan Tong. Po, Esq., Chief Mannger. Li Tae Fong, Esq., Manngor.

Calentia

Brancher and Agencias :--

Eowloos Penang Borabe 3* Londo Bangor Estow Belgen Bydney Wanita Melbourne Bad Fran- Taboku clado Tentein

Sagasaka New York

Tokyo- Bemarang... TALCOSTS! Shanghai Tokobama

Every description of Banking]

BANK OF CHINA

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 Clients special facilities for Domestic and Foreign Banking and Exchange.

Head Office: SHANGHAI Hong Kong Branch

4, QUEEN'S ROAD, C.

Current Accounts opened in Local SHIUCHOW.. Currency and Fixed Deposits re- We also handle the issue of year or shorter Bonds and other Public Funds of ceived for one

periods in Local and Foreign Car- the Chinese Government both at

terms which will be Home and Abroad.

Safe Deposit Boxes To Let.):

South Ching Offsës: $

CANTON

"KONGMOON

SWATOW

TOISHAN KINGCHOW.

SHOU J. CHEN,

Manager.

20th "Cant. 'FÒX. “

261

281

KAN TONG PO, »

81

do. $1j pf.

Carbon.

351* 351*

Union Carbide &

851 87

Union Paclac

5

954

$5 pr.......... 521 Elec. Bond & Share

$8 pf,

53 *

United Aircraft

293

301

United Airlines Trans

101

91

57.

581

United Corpn.

21

Elec. Fower & Light

United Corpn. \ $3

38

38

Acura, pf.

321

32+

28

201

United Gas Coron, 34, 31.

511

Un.. Gas Tprovem't" 101-

101

US. Rubber (... 524

531

-50

US. Rubber $8 pfd... 94.

971

23

U.S. Steel

421

247

25

Vanadiniq

197

201

241

Warner Bros. Pict

7

On demand

18-8/16 | Os Maxila SANAT

Jan-Jana 1938.

ON, JAPAN 1

* On demand

591

ON BANGKO

On demand

108

On demand ***

To:

USA.

149

Karl Goodrich 80, pf. wi #7060- Goodyear Tire & ca. 201301 £ millions

Great Northam Iron 8.8

Westinghouse Hec. 1137

1141

Woodward Iron Cor. 201*

13

Sovereign Notes

Elreer

"Great North

201 Chase National Bk. 327 331* National City Bank 254* 28′′ Can Money

1%

"Talegraphie Transfer.

Joey

Bank Buying Baks......

Bouth Africa

19.3

1/8-1/16 TAL

Chief Manager,

BRITAIN TO ADOPT CREDIT

Fl

EXPANSION

The British Government is being of the financial crists of 1931, when influentially pressed to resort to orthodox defationists were proved controlled credit expansion as a by subsequent events to have been remedy for the present trade.re-mistaken in their fears...

Those who oppose it do so on

These favouring the scheme two grounds. They claim that argue that adequate se, has not adequate action in the direction of been made by the banks of their increasing the credit? ability to support stock exchange already been taken by the Bank prices by increasing their own England though the remita

A not yet be fully apparent.Ser holdings of investments,

They also say that fight from They also compare the argu- sterling might result it sucks ments now being used against such were further pushed. (Christian action to those heard at the Find Science Momtór, Hörbon).