1938-10-28 — Page 12

PAGE 12-HONGKONG DAILY PRESS

BANKS

HONGKONG AND

SHANGHAI BANKING

CORPORATION

Issued & Fully Paid-Up $20,000,000

Authorised Capital

$60,000,000

Reserve Funds:

Sterling

THE CHARTERED

BANK OF INDIA, AUSTRALIA & CHINA

(neurpurated by Royal Charter, 1856

8,800,000

**

H.K. Currency Reserve $10,000,000 Reserve Liability of

Proprietors

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

Head Office:-HONG KONG

..$20,000,000 | Pald-up Capital ......

Reserve Fund Reserve Liability of Pro-

prietors..

£3,000,000

£3,000,000

£3,000,000

Board of Directors.

T. E. Pearce, E., Chairman.

Hon. Mr. J. J. Paterson,..

Depety Chirpais,

MANCHESTER BRANCH: 11. Mosley Street, Manchester.

AGENCIES AND BRANCHES:

HONG KONG PINANG

BANGOON ILOILO

MALOON

J. K. Bousfield, Esq...

A. E. Compton, Esq.,

Hon. Mr. S. II. Dodwell.

ALOK STAR

AMRITSAR

パ

BANGKOK

IPOE

BATAVIA

Hon. Mr. A. L. Shields,

DOMBAY

W. H. Lock, Esq..

G. Miskin, Esq.

K. S. Morrison, Esq.,"

H.. Wilkinson, Esq..

Sir Vandeleur M. Graybarn,

Chief Innager.AWNPORK

CALCUTTA CANTON

CKBD

Branches-

Amoy

Ipoh

Penang

Bangkuk

Johore

Rangoon

Batavia

Kobe

Saigon

Bombay

Kowloon San

COLOMBO DELHI HAIPHONG HAMBURO HANKOW HARMIN

Calcutta

Kuala

London

Franciscu Canton Lumpur Shanghai

Chefoo

Singapore Sourabaya Dairea Malacca Sungei Manila

Colombo Lyons

Foochow

KARACHI

KLANG

'KOBE

KUALA

LUMPUR

SEREMBAN

BANGELI

SINGAPORE

SITIAWAN

EQURABAYA

TAIPING

TIENTSIN

ТОМСКАЯ

(Bhuket)

TSINGTAO 1OKOHAMA

KUCHING MADRAS MANILA MEDAN NEW YORK PKIPING

(Peking). FOREIGN EXCHANOL and General Banking Business transacted.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods at rates which will be quoted on application. The Bank's Head Ooo in London undertakes Executor and Trustee business, and claims re- Income Tax covery of British overpaid, on terms which may be ascertained at any of the Agencies opened Current Accounts Local Currency and Fixed Deposits and Brauches.

R.. A. CAMIDGE, received for one year or shorter periods in Local and other Cur- rencies on terms which will be quoted on application.

Patani Swatcw Baiphong Muar Hamburg (Johore) Tientsin Hankow Mukden Tokyc Harbin New York Tsingtao

Yokohama Peiping

Hongkew Iloilo.

4:

in

1150 up to date-Safe Deposit Boxes in various sizes To Let.

Hong Kong. 7th October, 1938.

HONGKONG SAVINGS

BANK

The Business of the above Bask

is conducted by the HONG KONG

Finance and

Commerce

WORLD FACES RECORD P. I. IMPROVING

WHEAT CROP

Excess Of Grain May

Cause Price War

is estimated at 4,200,000,000

The world wheat crop th's year

to sell 1,800,000,000 bushels bushels, and exporting nations hope abroad. But importing countries, on past showing, will bay possibly only 500,000,000 bushels, With thissurplus in the world market, there may be some lowering in prices, which will undoubtedly lead to an international price war.

JAPAN CALLS IN COPPER

Tokyo,

LIVESTOCK

New Breeding Station

A forward step in the Fhi- Hppine

Government's pro

Framme

of improving Increasing Philippine

t

and

live-

stock was made recently when the Farawir breeding station WS.. formally Balacan established with Assembly- Gre- man Camilo Osiss, Dr. gorio San Agustin, director of the Bureau of Animal In- Fran- dustry, and Governor cisco Nisce jointly laying the cornerstone.

Dr. San Agustin, who was

FRIDAY, OCTOBER 28, 1938.

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING

HONG KONG

COMMODITY MARKET REVIEW

SPOT

JAN.-MARCH

APRIL JUNE .....

(FROM PAYNE & CO.)

SINGAPORE KURBER

Oct. 35

buyers

sellers

28-1/2 280-3/4

Oct. 26 buyers sellers 28-1/2 28-3/4 -29-1/8 29-3/8 29 29-1/4

29-3/8 29-5/8. 29-1/4 29-1/2 of 1/8

Change

unch.

of *1/8

The market opened with prices unchanged for all deliveries as compared with Tuesday's closing quotations.

4

quiet During the morning session very

conditions prevailed. thus responding to the lack of activity displayed by the New York Rubber Exchange.

Provisional figures for this year's wheat crop in the United States forecast the heaviest crop in years sowing despite the reduction of acreage. The harvest will exceed by about 25 per cent. the average ten wheat harvest for the last

one Oct. 27

It is estimated that the i years in circula-wheat harvest will go beyond the of the guest speakers at the pro- gramme pointed out that the time" Copper coins now

Only moderate enquiry for "actuals" was in evidence, whilst activi tion in Japan are to be withdrawn 940,000,000 bushel mark.

aluminium The United States wants to ex- had come for the people to give replaced by

During the afternoon the market tarned slightly steadier on and

decree port 100.000 000 bushels this year more attention to animal indus-ties by dealers and speculators were at a very low ebb.

He revealed that La Union

some trade buying. which, coming on a narrow market, caused prices coins, as required by the

animal Just issued by the Finance Minia- under an export subsidy. Canada: try.

to advance by 1/8 cent for all deliveries. also under a subsidy scheme. hopes had among the lowest

The population in the Islands, there measure is being taken to export 250.000.000 bushels.

oficial to conserve the Japanese copper two countries have not found it being in the province only 18 034 supply.

quar-pissible to co-operate in an export head of cattle of the 2.534.786 in learned that about scheme, and the US. Department the entire Philippines.

stopped Other Agures on La Union ani- ter, it is 10.000 tons of copper will be re or Agriculture recently

35 495 were there province covered by melting down the cop issuing dally reports of wheat ex- mal population show that in this horses, 23,924 per colns thus called in-Trans-port transactions.

carabaos, 8,427 ocean.

goats. 3,260 sheep, 890 ducks, 170

43.670 swine turkeys, 418 chickens.

try

This

From an

GERMAN-RUMANIAN

TRADE TALKS

Bucharest, Oct. 27

dele-

4

LOWER U. S. PRICES?

2

are

war

SERVES THE

and 412.

NORTH

This ban, it is thought in some quarters, would indicate that the United States may be considering to offer wheat at somewhat lower other prices, though there

The breeding station will serve A German delegation will

forces to be taken into account. La Union and other provinces in

price Involvement in

alone station Manager.rive here on Monday next to con-

the north. The duct negotiations for a German-would react unfavourably on Mr.

The 20 hec- costs Pesos 2,500 Rumanian trade and clearing Cordell Hull's efforts to lower in-

tares of land for the station were The German

Almeida ternational trade barriers through donated by the rich agreement. gation will be headed by Dreciprocal pacts.” On the other)

family, "Cost of maintenance will Clodius, of the Trade Depart hand. Mr. Wallace, Secretary of

be borne jointly by the provincial ment of the Foreign Office. The Agriculture, is not greatly in fa-

and insular government. negotiations will. Among other vour of an export subsidy. One things, fix a new quota for the ex-way or the other, the difference port of Rumanian petrol and grain between an abnormal granary and to Germany.-Transocean.

mited absorption must be settled. TRADE NEGOTIATIONS" IN FINAL STAGE

THE CHASE BANK

15, QUEEN'S ROAD CENTRAL

& SHANGHAI BANKING COR- Au PORATION. Rules may be ob- tained on application.

For the HONG KOND & SHANGHAI BANKING CORPORATION.

V. M. Grayburn,

Chief Manager:

Hong Kong, 7th October, 1938. BANK OF EAST ASIA. LIMITED.

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

Profits

5,508,800.00

11

2,176,726.76

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

Board of Direstart:

Bir Shouro Chow, Chairman Li Koon Chun, Eag. Li Lan Sang, Esq. P. K. Kwok, Raq"_ WongChuson, Raq: Wong Yun Tong, Beq. Han Ying Po, Kay. ChanChingBhek, Req., FangPingWah Esq.

Kan Tong Po, Esq., Chief Manager.

Tee Fong, Esq., Manager.

Brancher and Agingins :----

Kowlook Persar Bourabaya

Pangoon

Raigon Melbourns San Frati-

London Manila

Axof

ISELLAPTO Bombay

Destin

Canton

NEREA

Halphonc

New York

Oreka

Hanker Honolul

Bahr

Bwk.com Bydney Tuhoka si Tintain Bentle Tokyo Bemarang Vancouver

ShanghaTokohane

Slagspor Polping

Every description

Ranking

HEAD OFFICE:

18, PINE STREET,

NEW YORK.

American Bank offering.com plete Foreign Banking Servic

the principal Markets of the world. Interest Rates on. Application.

SAFE DEPOSIT BOXES

FARMING AREAS

1

FOR FISHERMEN

In order to give relief to coastal fishermen who have been rendered unemployed by frequent Inter- ference of Japanese men-of-war, the authorities of Hainan Island

This Bank is entirely owned by have appropriated farming areas

THE CHASE NATIONAL BANK,

to accommodate them.

the areas It is learned that New Yox, with Resources over C.S. $2,500,000,000..."

are situated in the three districts

D. M. BIGGAR.

·Manager.

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

Area in Paisha

sures

over

Production on Estates of over 100 acres Production on Estates of less than 100 acres

Towards the close of the session, however, the market again Malayan Rubber Statistics were released as follows: relapsed into dullness.

Total Dealers' Stocks in Malaya Malayan Estates' Stocks

44,827

51.176 tons'

33,845

33,509

18,653

18,651

6,978

8,203

LONDON RUBBER

Previous close To-day's close

SPOT... JAN.-MARCH

buyers

8-3/8

APRIL-JUNE

8-1/2 ... 8-9/16

8-1-2 8-5/8- 8-1/2 5-9/16

sellers sellers buyern 8-7/16 8-5/16 8-3/8 8-9/16 3-3/8

Change

of 1/16 of 1/8 off 1/16

'Market dull.

#

NEW YORK COTTON

The market-to-day-was- Inactive and prices moved within ex- tremely narrow limits. Hedge selling and liquidation was absorbed by Trade and dealer buying, but most operators remained on the side-lines and there was no feature of importance.

16

NEW YORK RUBBER

London and

All animals to be used in the station will be supplied by the of Animal Industry. Bureau among which will be an Arabian

Prices opened downward on lower advices from buffaloes from India cattle, swide, goats and other animals import-Singapore, but steadied early in the session on good absorption of offerings by factorles and commission-houses and then later advan- ed from other countries.

interests, who negotiated The breeding station will be ced on enquiry by dealers and foreign one of the many to be establish- some purchases towards the close.

Another ed in the Philippines. station is being started in Ban- stil another as the gued, Abra, while

will be established in Tarlac, Agreement

big breeding station is also con- templated in Pangasinan.

New York, Oct 27. The trade negotiations be tween the United States and Canada "have been completed. and treaty will be ready for algnature

Anglo American

has been reached. according to an Ottawa telegram.

It is bebeved that the latest

A

CHICAGO WHEAT

Weakness on the markets abroad and evidence that foreign im- porters are at present well supplied brought out easiness and 1- excellent Argentine crop quidation. Further bearish factors were prospects, dearth of outside participation, the slowness of four de- bullish factor was the unbroken drought in the Bouth West, which and and fears of a renewal of French offerings. Almost the only finally checked the decline and caused a partial recovery towards 12 day's the close.

pay for

force in

of Paisha. Lopen and Paoting. The reply in the Angle-American trade HOLIDAYS WITH PAY

mea-negotiations, which was received

IN SWEDEN alone 19,000 mow yesterday, makes some concession

An Act providing for

with annual holiday and is considered to be very fer- regarding items like motor cara,

hama, lard and bacon.

into came titë..

Mr: Cordell Hull stated yester-workers, day that the Anglo-American Sweden recently. agreement was reaching its final employer falls to carry stage, but he added that he could obligations, he may be sued "for to being Due to the place atmosphere" not predict how long the negotia- damages, in addit'on of the past few days, the local tions would continue. He de called upon to give the stipulat- No penal saric- wood of market has seen a drop clined to say whether the Britished holiday pay.

DROP IN WOOD OIL

PRICES

Under it, if an

out his

111 prices From $65, the price reply. was regarded as favourable. tions, however, are provided dropped yesterday to $58 per picul,Reuter.

Imports of wood oil from China

in China and connections in the and Indo-China last month totaled principal Commercial Centres of 1.909 piculs.

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.

South China Officer:

and Exchange, business transacted, CANTON

Loans granted

securities.

הם

4.

KONGMOON TOISHAN Approved SWATOW

KINGCHOW SHIUCHOW Current Accounts' opened in Local We also handle the issue of Currency and Fixed Deposits re- Bonds and other Public Funda of ceived for one year or shorter the Chinese Government both at periods in Local and Foreign Cur Home and Abroad.

on terms which will be

rencies

quoted on application.

Safe Deposit Boxes To Let.

KAN TONG PO.

!

Chief Manager.

SHOU J. CHEN,

Manager.

-ANNOUNCEMENT

The Chairman & Board of Directors of

.:

The China State Bank, Ltd.

take pleasure in announcing

the Opening of their HONG KONG BRANCH

11, Queen's Road Central

...

MONDAY, October 31st, 1938.

21

in the Act itself.

Philippine Mining News

DEVELOPMENT. OF KWEICHOW

.. MINDANAU

duction

N. Y. Commodity Market

(By Courtesy of Messrs. Swan. Culbertson & Frits and S. L. Levy & Company)

"ew York Cotton Dec. New York Rubber - Dec. - Dec. Chicago Wheat proft-Chicago Corn

Winnipeg Wheat

managers, on 1

The property was formerly un- sharing basis,

Atog Gold der the operation of

given Mining Company but was

MOTHER LODE and The Kweichow P.ovincial Gor- Mines, ine, produced P144 339.70

of ore treated. ernment and the Natural Resour-during September from 4.350 tons ces Comm'ssion have prepared a

EAST MINDANAO Min'ng com- scheme for the development of mercury and other mineral resour-pany reported its September pro- ap sometime this year, and Niel- December

for September at PSC, son and Company took over the January

The com- March ces of the province. in pursuance

of ore operation. August 29.

October | May of which the Kwelchow Minerai 722.38 from 3.007 tons

milled, a slight gain over the pany was incorporatea

addition the 10, 1936, with an authorized capi- July August figure. "In East Mindanao plant treated 300, tal stock of P1.200,000 with a par October 77 tons of ore for Mapaso Gold- value of ten centavos per share. Spot ... fields, Inc. from which 16,690.47 The mining claims were pur- for P300,000 from the was produced, and 338.75 tons of chased

Mining Association December ore from the Nabago Gold and kapu-Rapu

of March... which with A. Bachrach as trustee- Silver. Mines, inc. from

May the claim owners. P4.155.14 was produced.

The board of directors for the September the year 1937-1938 is composed of Sales for the day:--

Stewart Tait. Stoer the following :

DOOR CLOSED. TO IMMIGRANTS

14,

October With effect from

Netherlands the Government of East Indies closed the door to Chinese Immigrants as the quota for 1938 had reached its limit, it is learned from a reliable source. Chinese tourists are, however, still admitted into the Islands.

CONFERENCE WITH BANK HEADS

DD

·*

+99**

for

New York. Oct. 26 (Wednesday)

"

65

Dec.

464

40

Pray. To-day's High LOW Cluse Close Change.. 8.50 8.45 8.48 8.48 unch. 17.00 16.80 16.85 16.95 .10 up 651 65 1/2 off 401 461 3/8 of

- Dec.

594

581

59+

587

3/8 off

"NEW YORK COTTON

*Close

Opening

Closing

8.48/48

8.48/49

8.48/49

Change unch.

·.

(1939)..... 8.39/39

8.40/40

8.40/40

..01. up

()...... 8.38/38,

"8.39/38

8.38/38

unch.

( )...

8.24/25

8.27/27

9.23/23

.01 off

€

8.15/16

8.18/16

8:11/12

04 off

7.92/92

7.91/91

7.88/88

04 off.

8.75 N

8.80 N

05 up

NEW YORK RUBBER

16.85/88

16.806/85a 16.95/05

.10 up

16.88/89

10.88b/90a" 17.02/02

.14

16.90/92

16.88b/95a 18.99/17.03

.09 up

16.85/95

17.03/04

08

up

衫

2,040 tons

CHICAGO WHEAT

December May... July

651/652 854/659 677/68 673/672

651/651 672/677 673/67)

OI

67/87

off

Tuesday's Sales:-

12,879,000 bushels

CHICAGO CORN

464/482

491/50

463/481 ..463/461 491/491 481/49)

off

501/50%

WINNIPEG WHEAT 601/601

591/59)

501/591

оп

501/591 591/501 821/627

587/59

OK

621/631

off

Com- BATANGAS MINERALL pany, Inc., was delisted big board of the Manila Exchange and on the Interna- president; Wm. Ick vice-prest dent: A Bachrach, W. E. Hicks, tional Stock Exchange.

R. H. Berkenkotter F. J. Hig- The delisting of the stock ham, Joseph Pastori, and T.-A. the company was ordered by the Roberts, secretary. securities and exchange cÓM- mission which recently conducted an investigation of the operations of Batangas Mineral.

of

Hsinking, Oct. 28. Mr. E. Hall Patch, Financial Ad- viser to the British Embassy, con- ferred yesterday morning with the

To stock has not been traded heads of the industrial and state

on both banks, Mr Hall Patch leav-in for several months ing for North China this morning. Exchanges as a result of the order'

Reuter.

REICHSMARK QUOTATIONS

New York, 40.08

of suspension of the commission early this year, and the delist- ing of the stock is believed the Berlin, Ost. 27mination of the investiga

tion inta the... azsirs of the com- The Reichsmark was quoted

pany and of some of its officers. without guarantee at:

Mining Com- HIKBAR GOLD By pany, Inc., which has recently held its annual meeting of stock- holders, has a group of 12 gola lode mining claims located in Rapu-Rapu island. Albay province, Paris U. 8. Dollar, 37.48 to 31.668, under the operation of Nelson and Company, mining operators Transocean.

Paris, 1503

Amsterdam, 73.65 to 73,70 London, 11.905

Paris Sterling, was quoted 178.75 to 178.80

H.K. SHAREBROKERS: ASSOCIATION

BUYERS

Star Ferries $73.

December May July

China Lights (Old), $10.50. Electrics, $581. Trama, $16.80 Lands, $37. Raubs, $0.

October December

May

United Paracale, 44 ctvs.

SELLERS

China Lights (Old), $1070. Electrics, $581. -Trans. $17.

2012 40

Star Fer

Daler

December March

51/51

13.87/97

יד.

13.91/88-13.90/90

NEW YORK HIDES: (New Contracts).

13.58b/58a13.45b/501_13,52/62.

NEW YORK STRAITS TIN

46.85b/40a 16,25 träded: 46.10/10. 42-3/4

December

NY Bilrer. Offcial NY-L'don

4.70-11/18

42-3/4

€€€€

off