1938-10-31 — Page 13

PAGE 12-HONG KONG DAILY PRESS

BANKS

HONGKONG AND

SHANGHAI BANKING

CORPORATION

Authorised Capital 850,000,000|

THE CHARTERED

BANK OF INDIA, AUSTRALIA & CHINA

Finance and Commerce

GOLD MINING STOCKS IMPROVE

Issued & Fully Paid-Up 920,000,000 Incurporated by Royal Charter, 1855 COLONY SURPLUS SHARE MARKET NEW FINANCING

Reserve Funda ;

Sterling

E.K. Currency Reserve $10,000,000

Reserve Liability of

Proprietors

€ 6,500,000

.$90,000,000

HEAD OFFICE: LONDON: 38. Bishopsgate EC.2. Fald-up Capital Beserve Fund Reserve Liability of Pro- prietors....

£3,000,000 £3,000,000

£3,000,000

Head Office-HONG KONG

Board of Directors. TE. Pearce, Esq., Chairman. Hon. Mr. J. J. Paterson,

Deputy Chairman

G. Miskin, Esq.,

H. V. Wilkinson, E..

Sir Vandeleur M. Grayburt,

MANCHESTER BRANCH: 71, Mosley Street, Manchester.

BATAVIA BOMBAY CALCUTTA

"KARACHI KLANG KOSK

J. K. BousBeld, Esq.,

A. H. Compton, Esq.,

Hon. Mr. S. H. Dodwell,

W. H. Lock, Esq.

BANGKOK

FOR

K. S. Morrison, Esq.,

Hon. Mr. A. L. Shields.

CANTON

KUALA

Chief Manager.

CAWNTO RE CLAU COLOMBO

KUCHING

AGENCIES AND BRANCHES:

HONG KONG PENANG ALOR STAR

ILOLLO RANGOON AMRITSAR

SALOON SEBELBAN SHANGHAI 31NGAPORE SITIAWAN BOURABAYA TAIPING

LUMPUR

MADRAS

TIENTSIN

Branches-

Ainoy

Ipoh

Pensug

Rangoon

Batavia

Kobe

Saigon

Bombay

Kowloon

San

DELHI HAIPHONG

·HAMBURG HANKOW- HARDIN

MANILA

TONGKAH

HEDAN

(Bhuket)

NEW YORK PIPING

TSINGTAO

(Peking)

Calcutta

Kuala

Bangkok Jobore

Chotoo

Chefoo

Colombo Dairen Foochow

Francisc

Lumpur Shanghai

London Singapore

Lyoną Bourabaya

Pateni Swatow

YUKOHAMA

DECREASES

September Figures Released.

Although Government expendi- ture during September exceeded revence by $230.000, the end of the month found the Colony with a balance of $15,397,428.43.

with

SHOWS PRICE FIRMNESS

BY C. A. L. RICKETT Hongkong Sharebrokers'

Associatiun

shares

IN LONDON

British Solidarity Gives Confidence

what

It is remarkable with confidence new business is be- ing approached la the London although market, financial

which the moment is not one might have seemed propitious for the financing of fresh trad- ing developments, writes 1 London correspondent. Such confidence is of course

British of resources based in the first instance on the

returns.

the the the

11 London £305,000,000.

い

MONDAY, OCTOBER

31, 1938.

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING

HONG KONG

COMMODITY MARKET REVIEW

S. POT JAN.-MARCH

APRIL-JUNE

(FROM PAYNE & CO.)

SINGAPORE RUBBER

Oct. 28

Oct: 29

buyers sellers buyers sellers

Change

28-5/8 29-1/4 29-1/2 29-3/4

28-1/4 28-1/2 28-7/9

28-7/8 29-1/8 29-1/2

29-1/8 20-3/8

of 3/8

of 3/B off 3/8 The market opened 1/4 of a cent lower for all deliveries as com- pared with Friday's closing rates.

Influenced by the disappointing action of the, Rubber Exchanges in London and New York the market displayed a very quiet and dull undertone throughout the session.

The fact that there were fair enquiries for "spot" Rubber from

lative interest operators preterring to remain on side-lines for the time being, no doubt being influenced to act very cautiously in view of the uncertainties with regard to the fixation of the permissible ex- port quota for the first quarter 1939.

After a moderate volume of business having been transacted on basis of quoted rates, the market closed with a very dall undertone.

Contrary to expectations the estimated decline of about 2,600 tons

ment offers at lower prices. Major price-fluctuations arc, however, in U.K. Stock for this week practically had no influence on the Ex-

not anticipated until after the LRR.C.'s meeting on November 15. changes in London and New York due to reports of increased ship-

LONDON RUBBER

The market has been very quiet during the week and, in spite of the fall of Canton followed by that of Hankow, prices have been fairly This is nearly $300,000 less than well maintained but are inclined to sag through paucity of business at the end of August.

Actual expenditure from Janu- rather than undue selling. Most ary i to September 30 was $25,841, shares offering have been taken off 595,

is almost $2,000,000 the market, but owing to the nar- which more than for the same period in wness of trading buyers. in some 1937. However, the increased ex-instances, have been unable, to ob immense

at quoted rates. As financial institutions, while it is ottain shares the month penditure for

predicted the volume of business also due to the intrinsic sound-rincipal consuming centres, failed, however, to stimulate any specu- -38 compared September

The financial soldity of September, 1937 was only $300,000 has shown a tendency to fall offness of British Industry,

is apparent troni after country On the revenue"side, the intake still further.

Hongkong Bark

During $2,495,197.94, for September was which was a little over $20,000, less changing hands at $1390 could be banking

by

the further en-discounted- than during the same month last obtained at $1385. Trams changed month of August the total of bills

Was January "1 "and hands at $183 with Between year. FORKION EXCHANGE and General

September 30, the total revenue quiries at this figure. Electrics clearing banks Banking Business transacted.

CULLENT ACCOUNTS opened And was $27.236.744.12, which is very were wanted at $581 and Lands at a figure not only considerably Malacca Sungei

FIXED DEPOSITS received for One nearly $3.000.000 in excess of the $37 with sellers at $37 China bigger than that for the preceding for the corresponding Lights. (o) were wanted at $10.60.month, but £28,000,000 above the

Business has been reported in total for August 1937. Manila

Year or shorter periods at rates income Haiphong Muar

which will be quoted on application. period in 1937. (Johore) Tientsin

Head Office in The Bank's

In fact, after the first nine Telephones (0) at $243" and Wat- London undertakes Executor and months, the revenue totailed only sors at $74. Cements could be obed to no less than £2.289.092,000 Trustee business, and claims re-

$3,000,000 short of the estimated tained at 316.40 and Hotels at $61. or £15,000,000 more than in the British With the dullness of the local corresponding month of last year, of British Income Tax

the fact market interest has revived to and the steadiness of covery overpaid, on terms which may be revenue for the whole of the year,

some extent in gold mining stocks trade is evident from which have shown an all round.im-that the ratio of bank advances to ascertained at any of the Agencies

of the deposits continues at the level of provement. This section and Branches.

R. A. CAMIDGE,

market is displaying renewed ac-142 per cent. tivity with a marked advance in War is changing Japan, Into grimly fatalistic nation, scarcely the prices of some of the producing recognizable as that of two years mines. San Mauriclo were again ago. Everywhere, says the "New Cutstanding and passed the Peso z in new capital issues, and the of mark to Ps. 1.10. Antamoks justi-variety of interests for which new York Times," there is evidence

Business fed the long, tried patience or money is being raised is a sign of stringent ecor.omies.

the financial and industrial buildings, homes, shops and streets holders by advancing 15 centavos the confident tone prevailing

to 57 centavos, United Paracale im-

kets of Great Britain. are not being repaired.

Apart from these issues, large A general air of pinching pover proved 13 centavos to 491 centavos.

on spreading shabbiness Coco Grove closed at 52 an im- ty" and

who provement of 7 centavos, and LXL Capital sums are being spent sharply strikes

enterprises, but by puble authori- the hostill- centavos better at 68 centavos. expansion not only by industrial knew Japan before

ties. Market closed firm.

In extensions now being made to the underground electric

Hamburg

Mukden Tokyo Hankow Harbin New York Tsingtao

Yokohama Hongkew. Peiping Iloilo

Current Accounts opened in Local Currency and Fixed Deposits received for one year or shorter periods in Local and other Cur- rencies on terms which will be quoted on application.

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

Hong Kong, 7th October, 1938.

HONGKONG SAVINGS

BANK

The Business of the abure Banki is conducted by the HONG KONG' & SHANGHAI BANKING COR PORATION. Rules may be ob tained on application.

77

For the Hose KoNG & SHANOHA! BANKING CORPORATION.

V. M. Graybarn.

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

Authorised Capital

..$10,000,000.00)

6,598,800.00 2,770,726.78

Reserve and Undivided

Paid-up Capital

Profits

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

Board of Directors:

Sir Shauson Chow, Chains Li Koon Chun, Esq. Li Lan Sang, Esq. WongChusoo, Esq. P. K. Kwok, Esq. Wong Yun Tong, Faq. Kan Ying P, Ea ChanChing Shok, Esq. FangPingWah Esq.

Kan Tong Po, Esq., Chief Manager. Li The Foag, Esq., Manager.

* Branches and Agencies ----

Ainoy Batavia

Dombay

Palesti ants

Haiphong

Hankow Honolulu Kobe

Kowloon Loodus Manila Melbourne Xurusta New York Onak

Parli

Pelplag

PADR Джадров

Sourabaya Swatow Hydney en Fran- Talhoku Titula Tokyo Scattis Semarang Tancouver. Shanghai Tokohina Singapore

Every description of Banking

4

Manager.

THE CHASE BANK

18, QUEEN'S ROAD CENTRAL

HEAD OFFICE:

18, PINE STREET,

NEW YORK.

An American Bank offering com

plete Foreign Banking Serviceties, in the principal Markets

the world.

Interest Rates on Application.

of

SAFE DEPOSIT BOXES This Bank is entirely owned by THE CHASE NATIONAL BANT, NEW YORK, with Besources over (T.S. $2,500,000,000.

D. M. BIGGAB,

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 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. South China Offices:

and Exchange business transacted. CANTON on approved SWATOW

SHIUCHOW

Loana granted

securities.

KONGMOON TOISHAN KINGCHOW We also handle the issue of

JAPAN FEELING THE PINCH

observers

a

All foreign residents in Japan. and Italians. Germans except

espion- complain of the constant age, interference with their letters and telephone calls and bribery of their servants.

BANKS REMOVE FROM SWATOW

MACAU SERVICE BOOM

Deposits in these banks amount-

NEW CAPITAL ISSUES Meanwhile there is no slacken

in

mar-

SPOT

JAN.-MARCH APRIL-JUNE

Market quietly steady.

8-1/2

Te-day's close Previous close buyera sellers buyers sellers

8-3/8 5-5/16 8-5/16 8-3/8

8-3/8 8-1/2

8-1/2 8-7/16

3-9/16. 8-7/18 8-9/16

Change

unch.

off 1/16 off 1/16

14

The average forecast of last week's stocks of rubber in London and in Liverpool shows a decrease of 2,800 tons.

"NEW YORK COTION

Prices early advanced on higher Liverpool and Bombay advices together with some speculative buying and covering, but later the market partially reacted on hedging and liquidation. Prices then re- covered on foreign and trade buying. but again eased in sympathy with the easiness of the stock market.

H

NEW YORK RUBBER

The market to-day was quiet and prices moved within narrow railway in London the cost of the limits. The tone held steady, influenced, by steady London cables. tunnelling

alone

is £2,500,000 Trade buying was the sole feature, but business was light.

while the Postmaster-General has announced that no less than £2 500.000 will be spent this year on

operating Shipping companies services between Hongkong and Macau are experiencing a sharp the development of postal and boom, consequent upon the closing telephone communications in Scot- of the Pearl River.

There are now seven ships run-

Due to the tense situation ating daily between Hongkong and Swatow, the branches there of the the Portuguese Colony, and every Bank of China, Central Bank and trip the vessels are crowded with The vessels are the ss. Tin Yat, the Bank of Communications have passengers and packed with goods. suspended bustness and removed to Hongkong."

#

BELGIUM FLOATING

LOAN

To Cover Expenditures Of-Mobilization

land

HARD COPPER

་

MADE DAILY

Hay AT FORD PLANT

ss. Sui Tai, s.s. Tai Shan, ss. Sal On, s.s. Chuen Chow, Kong, and the 3.5. Macau

,'

The dream of making copper as It is learned that the owners of vessels normally plying between hard as steel: a dream that pos- Hongkong and Canton now bottled sessed the ancients with almost the up at Canton, are discussing plans intensity of their ambition to tran for placing their vessels on other smute base metals into gold-1s routes when they are released.

CHICAGO WHEAT

Prices carly declined on lower cables from the foreign markets and on iquidation, but later partially rallied on better advices from Winnipeg and a better mill demand.

N. Y. Commodity Market

(By Courtesy of Messrs. Swan, Culbertson & Fritz and 8. L. Levy & Company)

New York, October 29.

New York Cotton - Déc. being realized every day by Ford New York Rubber - Dec.

Chicago Wheat Some of the boats will be put on Motor Company metallurgists. the Hongkong-Macau run.

Bankers

They regularly make a copper so Chicago Corn hard it could actually be used to Winnipeg Wheat forge steel, and to accomplish this 38 an alloy the little- they use the known element beryllium which Association until a few years ago cost $100 &

Owing to the expenditures en- called in the measures which the!

The Tung Wo Commercial Savings Government was forced to take during the recent European crisis. Bank, a member bank of the floating of a 1,000,000,000 Bel-Shanghai glan Franc loan is, contemplated. suspended business last. Friday pound

repaid following a heavy run upon its The loan would be through drawing of prizes, and current and fixed deports. The the interest would be 3 per cent. bank, which is capitalized at $500 the first ten years and 4 per cent. '000, is being liquidated and a re-required to give the copper the Jui from the eleventh.

Current Accounts, opened in Locs! Currency and Fixed Deposits re-Bonds and other Public Funds of|||| ceived for one year or shorter the Chinese Government both at periods in Locel and Foreign Cur-Home and Abroad: rencies on terms which will be

quoted on application.

Safe Deposit Boxes To Let.

KANTONO PO

Thief 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.

ceiver is being appointed.

Philippine Mining News

al

December "This hard copper of course is January (1939) (,) (...) beryllium copper, but only a very March small proportion of beryllium is May

(...)

desired hardness" according to B. October Cup)

H. McCarroll, in charge of chemi-spot..... cal and metallurgical engineering

L

of

for Ford Motor Company.

"The method of making it was discovered only a few years ago, and the metal has quickly found many industrial tises.

One of its principal uses is for

MINE. FACTORS, Inc., reported time was reported to be satis recently that mined production factory. Ore reserves estimated on the company's, Biquijor man- by the bureau of mines as

amounid tor ganese property during the month June 30, this year,

and other tools necessary in indus- of September amounted to 5,250 110,644 tons with a total value of making non-sparking hammers

with an average tons of ore with a value of P94. P3 631,208, or 500. It was not stated, however, value of P32.81 per ton. it was trial processes, where sparks might whether or not this amount of ore further disclosed.

Present work has revealed was shipped.

Mine Factors mined 7,200 tons of a tonnage and value

Dec

Dec.

Dec.

High Low

0.66 8.53 18.75

16.75 642

641

Frey. To-day's

Close Close Change 8.55 ,02 up 8.53 18.75 16.77N .02 up

65

-1/8 oft

451 444 451

45

1/8 of

591

481 581

50

1/2 up

NEW YORK COTTON

1

Close 8.53/54

Opening 8.54/54

Closing

Change

8.55/56,

.02 up

....... 844 N

8.44/43

8.45/45

.01 up

8.41/42

8.42/42

8.42/42

of ap

8.24/24

8:25/25

3,28/26

02 up

8.11/12"

8.11/11

.8.10/10

7.82/82 8.88 N

7.81/79

+ 7.83/83

B1 up

8.83 N

05.00

NEW YORK RUBBER

16.755/75 16.75b/85a 16.77 N

16.80/81

18.81b/856 16.82/84

16.85b/89a 16.82/82

៩

BERS

December March May September

16.82/94

16.90/91*

16.87/89

Sales for the day:

760 tons

CHICAGO WHEAT

create an explosion hazard. The December ore chemical industry uses lots of it May several for this purpose.

"We manufacture beryllium cop-

85/651 661/881

65/847

647/65

581/561

804/667

."

July

661/681

663/681

Kup

Friday's Bales :----

14,719,000 bushela

CHICAGO CORN

461/451

45/441

43/447

off

42/483

481/481

481/481

off

498/483

49/491-

on

small

WINNIPEG WHEAT

October

581/581

EXHIBIT December AT NY. FAIR COFFEE

881/681

$81/581 -581/581

60/601

50/501:

May

621/621

621/621

NEW YORK HIDES:

(New Contracts) {

December March

of manganese ore in Angust, 4,000 times what has been milled and ton's being shipped on the 2. s.indicated higher ore reserves than per in our plant at Dundee, Mich!- welding electrodes because it has Bing last week but included in those estimated by the govern-Ban for use in making electric

a high electrical conductivity and December the Beptember sale of the comment, it was pointed out.

AMALGAMATED .... MINERALS, pany.

in operated STA. ROBA Mining Company, Inc., expects to make a shipment The Ford plant at Dundee is cne May

industries" Inc., mined 4,440 tons of ore during of manganese ore early next of the dozen or more Ford "yllage July

its from

property the month of September with aj weer

Busuanga island, Coron Palawan, Michigan communities..." recovery of P78,668.66.

The company is expected to The mill heads of this ton nage approximated P90,421,35. The make also a' shipment of manga- production last month compares nese from the property of Com- with the August output of 6,479 -pania- Minera de Pilipinas located in the same place. Amalgamated tons with value of P113,143,62

The lower production in Sep-Minerala is acting as agents for tember was attributed to the Compania Minera in the sale of major exhibits of Brazil as the New York World's Fair in 1939. The working on raises from the fso ore of the latter nem level of the Pelang Vein, the ore Amalgamated Minerals was not entire process, from cultivation from this development work be able to make shipments in Sep of the bean to its final brew- thering is to be kihown in novel ing milled instead of being thrown Lember dae to bialement

ore thanion, As it was direult to haul Development work on the prop from the property to the arty of Sta, Row at the present shore, it was pointed out

Coffee is to be one of the

13.30b/25a 13.12b/20a 13.15b 13.60/61 13.00/50 13.55/55

NEW YORK STRAITS TIN

45.80/80 ́45906/48.102 46.15h/20a

476-9/16

Coffe lovers will be December obteft the beverage at a Ny silver, Ömízíài

NY-L'don Cross Rate. 476-1/2

EE