1938-11-01 — Page 13

RAGE 12–HONGKONG DAILY PRESS

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING

HONG KONG

BANKS

HONGKONG AND

SHANGHAI BANKING

CORPORATION

Authorised Capital

$50,000,000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

Issued & Fully Paid-Up $20,000,000 Incorporated by Royal Charter, 1855 Reserve Funds:

Sterling

...2 8,500,000

A.K. Currency Reserve $10,000,000 ₫ Reserve Liability of

Proprietors

HEAD OFFICE: LONDON: 38 Bishopsgate E.C.Z.

#£3.000.000

.$90,000,000 | Paid-up Capital

**** |Reserve Fund

Reserve Liability of Pro-

prietors..

Read Office:-HONG KONG

Board of Directors.

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

Deputy Chairinan.

J. E. Bousfeld, Esq.

A. H. Compton, Esq.

Hon. Mr. B. H. Dodwell,

W. H. Lock, Esq.."

G. Miskin, E.,

K. S. Marrison. Esq..

Hon. Mr. A. L. Shields.

H. V. Wilkinson. Esq.,

Sir Vandeleur M. Grayburt,

Finance and Commerce

17

WOOD OIL MARKET

UNSETTLED

South China Situation Reacts On Buyers

The wood oil market in Hongkong has been somewhat stagnant during the past several days due to developments in South China and

tubs One thousand

which arrived from the "peace" rumours. Kwangsi and Yunnan met with hardly any buyers, who held off on the maiter of prica.

Towards the end of last week, however, a few transactions took place at varied prices. The highest price paid per plcul was $56, but business was also gone at 353 and as low as $48---------

£3,000,000 AMERICA

£3,000,000

MANCHESTER BRANCH: 71. Mosley Street. Manchester.

ALON STAR AMEITSAR

BANGKOK

$1

KARACHI

KLANG

AGENCIES AND BRANCHES:

HONG KONG PENANG ILOILO.

RANGOON SAIGON HEREMHAN SHANGHAI BINGAPORE SITIAWAN BOURABATA

BATAVIA,

BOMBAY

КОПЕ

LUMPUR

CALCETTA

CANTON

KUALA

Chief Manager.

Branches:-

Amay

Ipoh

Penang

Bangkok

Johore

Rangoon

Batavia

Kobe

Saigon

Bombay

Kowloon

San

CAWNPORE СЕВО COLOMBO DELHI HAIPHONG HAMBURO HANKOW HARBIN

KUCHING MIDBAS

MANILA

Calcutta

Kuala

*Canton

Chefoo

Colombo

Dairen Malacca Sungei Munila Fuochow

Patani Swatow

MEDAK NEW YORK PCIPING

(Peking)

TAINING

TIENTSIN

TONGKAR

(Bhuket) TSINGTAO YOKOHAMA

Francisco Lumpur Shanghai

FOREIGN EXCHANGE and General London Singapore

Banking Business transacted. Sourabaya Lyeas

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 Office ia London undertakee Executor and Trustee business, and claims re- covery of British

Hamburg (Johore) Tientsin

Haiphong Muar

Bankow

Mukden Tokyo

Harbin

Hongke

New York Tsingtao

Yokohama Peiping

Unite

Current

in

Accounts opened

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 Te Let.

Hong Kong, 7th October, 1938.

HONGKONG SAVINGS

BANK

The Business of the above Bank is conducted by, the HONG KONG

WATCHING

STERLING

The U.S. Secretary of the Treasury, Mr. Heary Morgen- thau Jr. tuld press represents-

11

tives in Washington last week that he did not attach much Importance to the rumours that the Pound Sterling would be devaluated in the immediate future. He declared that no de- marche had been made to Lon- don on the subject,

indicated in Meanwhile, it is Treasury circles that experts at- tached to the Federal Reserve Board had met to examine the international exchange situation in order to decide whether mea- sures to defend American financial interests would be justified,

HUNAN-KWANGSI

RAILWAY

Completion By End

Of Present Year

progressing rapidly under the the Ministry supervision of

TUESDAY, NOVEMBER 1, 1938.

DAILY SHARE QUOTATIONS

Hong Kong Stock Exchange

Bayer Ballers

Elon

Nominal

11,390

513-

19

MONDAY, OUT. 31.

Bankr

H.L. Benks.c

Sharebrokers' Association

Buyers Ballets Salesia

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

Da (Lon. Begm| Chartered Banka ****

227) Marosatile Bts. "A"

**

$1 385

£83

£13

Construction work on

Mormantile Bka. ****

£13

the

188

Bank of Basi' Asia ...

$83

Hunan-Kwangal

ralivar

15

N. O. & 8. Hankɛ ..............

Insurance

8295 Canton Insurances............. #994. Union Insurancës seen

$290

$500

15

$300

$88

Douglass KI

$66

$19

Steamboală nume

330

Indo-Chinas (Proč.)

24

Indo-Chinas (Dat:)

$80 124

85/74Shell.....

88/7

Waterbosta ****

17/8

of Railways and the line will of be completed by the end this year.

line.

about link

The Hunan-Kwalchow about 1,000 kms, in length, will link up Chuchow, in Hunan, with Kweiyang, capital of Kwelchow Dealers have naturally been dis-province, via Chingklang, while cussing the market's future, for the Hunan-Kwangs!, lice, since the beginning of hostilities 800 kms. in length. will Hongkong has become the chief up Hengyang, also in Hunan. exporting centre for wood ell.with Yangning in Kwangst vis The bulk of supplies have come Kwellin and Luchow. from China, and only a small pro- Under the chairmanship of Dr. portion has come from Indo-China, R. Kung. Minister of Finance and the President" of January to August this concurrently From year, 433,177 plculs, valued at $19. Executive Yuan, a meeting to 379.949, were imported into Hong-discuss measures for improving and highway commu- kong from China, while only 11. railway

conservancy this various

In Chungking Heads of the

592 piculs, valued at $514,063, were nications and water

held Imported from Indo-China. Total was imports of wood oil into the Colony month. during the eight months thus reconstruction bureaux, directors totalled 444.769 plculs, amounting of highway Bureaux in Hupeh, Szechuen. Yunnan. Kwelchow. to $19,894,012.

Kwangtung. Kwangs!, Shens!. IMPORTING COUNTRIES:

Kansu, Hunan and Sikang, total- The leading countries to which Nng more than 40 persons. at- stocks were exported from Hong-tended the meeting. kong during the eight months are

1. United States (414.459 piculs, valued at $18,795,342),

2. Germany (66.483 piculs, valued at $3,207,258),

3. France (27.064 picuis, valued at $1.320,683 and

4. Great Britain (19,500 piculs. valued at $906.801).

It appears evident that a further important drop in the Pound Sterling in relation to the US Dollar would result in defensive

Total exports of wood all from the Colony. including exports to measures on the American side.

According to well-informed cir countries other than those mẹn- Tax cles, no decision was reached tioned. from January to August Income

this year. amounted to 570.281 Overpaid on terms--which may be the meeting which, however, ascertained at any of the Agencies itself should be considered a plenis, or a total value of $26,843, and Branches.

R. A. CAMIDGE,

warning to London

Manager.

IMPROVEMENTS

IN KANSU

THE CHASE BANK

15, QUEEN'S ROAD CENTRAL

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

For the HONG KONG & SHANGHAI | BANKING CORPORATION.

V. M. Grayburn,

Chief Manager. Hong Kong, 7th October. "198. BANK OF EAST ASIA.

LIMITED.

Authorised Ospital ....$10,000,000.00 5,508,500.00 Paid-up Capital ....... Reserve and Undivided

2,776,726.76 Profits

Head Office:-HONG KONG N. 10, Des Voeux Road, Central.

Board of Directors:

Sir Shouse Chow, Chairmani”

L. Koon Chun, Raq: Li Lan Sang, Baq. F.K. Kwok, Esq. WongClinson Br. Wong Yun Tong, Esq. Kas Yah F

TungPing ChanChingBhek, Esq.

Kan Toag Po, Esq., Chief Maangor. Li Tee Fong, Esq., Manager.

Ariki

Branches and prolongan

Kowloon

London

#

Amay

Balavia

Pombiky

Foment Bangoon

Amon

Chionsta

Kaiphong

Bourabaya Bestow Hydmay Talboka

Tokyo

Hankow

Serang

Ficcoli

Yokomo

J

Poping Angapore

Manta

Kolborne Dam-ETAL-

New York Seattle".

Every description of Beaking

HEAD OFFICE:

18, PINE STREET,

"NEW YORK.

American Bank offering com- plete Foreign Banking Service 121 the principal Markets of

the world.

Interest Rates on Application.

SAFE DEPOSIT BOXES

This Bank is entirely owned by THE CHASE NATIONAL BANK, NEw Your, with Resources over 1.5. $2,500,000,000.

01

at

in

490.

A

have used

are

BIGGEST

AIRWAYS

COMBINE

Imperial Airways, dominant British Government subsidis- ed air-line company, Is-to take over its closest competitor, Hri- tish Airways, according to London message.

3122

$6.20

$6.30

$37

Underwriters

30 L Fires....

Shipping

160

י?

$6.30

$19

$18

蠍

17/6 Eilan

+9.70 Raube

$3 Vantinela Gold Fida.

17 ata Hong Kong Mina....... Docks,, WharTES,... Godowns, eća.

H.K.K. Wharres... Providenta (old)........................ Providents (new) ..................

H.E. & W. Dooks....

Do. (a).......

$1:4 Shanghai Docks B... $2.80 New Boginserings 8.

Lands, Hotels, and Belidlare H.K. Hotels..................... H.K, Lands...........

$107) Do. 4% Dehzatures

Shanghai Landa" 8.

HE. Renities----

Humphreys

Chinese Betalas vi

Cotton Mills

137

t

198

317

Ewas (8.)

204

8'hai Colton (8.) mar

*TRA

$42

$14.80 $17

+73 1:3

$10.70

8221

1

$10.00 1581

8584/11

*

$17 810

824.60

$21)

will thus en-

will give Imperial This move Airways a monopoly over all Bri- China enjoys almost a monopoly tish, air-lines operating from En- of the supply of wood oil, or tung gland to European capitals, to In- oil, although crops planted in the dia. Africa, and Australia and over the lines planned to America and southern states of America

America. It Lanchow. 'October 31. maturing. The oil is chiefly pro-South Great improvements in Kansu's duced in the provinces of Szechuen, become the greatest airways

Was formed British Airways political and financial adminis- Kwelehow, Kwangsi," Yunnan, Hu-terprise in the world.

13 ap amaiga- tration, educaton, reconstruction nan. Anhwet and Cheklang, and is

for making varnish, paint, three years ago and military machinery

competition with Imperial Airways been made lately. General Chu iacquer, ollcloth. linoleum, printing mation of smaller companies in Shao-liang, Chairman "the ink and other products.

over the European routes.

PREMIER'S FLIGHTS Kansu Provincial Government and concurrently Pacification Com-

Earlier this year, when the Cad- missioner for Kansu, Ninghsia

man Report was published, Im- OF BANKERS Chinghai, revealed in

perial Airways came in for severe and Interview with a ̈ ̃Centrǝl.

"We have heard nothing about criticism over the operation of correspondent yesterday.

Kansut. We know of no such thing." their routes to European capitals. The administration of

This Mr. Shou J. Chen, manager It was recommended that these Chu: according to General

of the Bank of China, refuted the lines should be run by a Joint com- accordance carried out in

between Imperial province rumours recently circulated that pay formed the principle that the

national leading Chinese bankers were call-Airways forms the first line of defence in the Northwest.

Cleneral Chú

-disclosed that Generalissimo Chiang Kai- anek has appropriated $5000,000 terday.

rural development In the News Drovince recently-Central

D. M. BIGGAR, ..

Manager.tor

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 numerons 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: BHANGHAI Hong Kong Branch

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

KONGMOON TOISHAN

and Exhange business transacted CANTON approved SWATOW Loans granted on

SHIUCHOW KINGQHOW securities

Current Accounts opened in Local We also handle the issue of Currency and Fixed Depositare Bonds and other Public Funds of ceived for one year or shorter the Chinese Government both at periods in Local and Foreign Car Home and Abroad.

on terms which will be quoted on application.

rencies

Safe Depot Boze To Let.

TAN TONG PO,

Chief Manager.

A Job?

Consult

WANT AD

SHOU J. CHEN,

Manager.

also

NO CONFERENCE

News

19

with

and

British Airways,

ing a conference in Hongkong, when with control vested in the small- questioned on the subject by a er company . It was la "Dally Fress" representative yes-

3 British Airways machine that the Premier made Chinese his flights to Germany. confirmed

Money owing by British Air- to its financial backers, ways

Other prominent interviewed bankers Mr. Chen's decisive reply.

Regarding the situation in Swa-Whitehall Securities, will be paid HYDRAULIC POWER tow, where Chinese banks closed in full by Imperial Airways and

FOR SZECHUEN.

some three days ago, Mr. Chen shares will be exchanged on these stated there was no change, the terms.

The Irrigation Bureau of Sze-position' remaining much the same chuen has completed plans to build as it was a month ago. at Mienyang, near the estuary of the Fuklang River, a hydraulic power plant of 4000 kilowatts. The cost of construction will amount to about $1,250.000.

MITTELLAND CANAL,

CENTRAL BANK

1.

PROFIT

U.S. FIRMS

TO PRODUCE

NEW YARN

In 1937, the Central Bank of

The Celanese Corporation ED- China made a net profit of $17. 252.300.90, according to a state-nounced recently that it was build- ment sued by the bank authoring a US $10.000.000 plant to produce new yarn within a year ties.

which hostery makers predicted slik Japanese would eliminate irparts for hosiery in the Amert» can market,

The DuPont interests were also

OPENED

Magdeburg, Oct. 31. The newly-constructed Mittel-

JAPAN'S REDUCED land Canal was opened yesterday by Herr Rudolf Hess, Herr Hitler's

RICE CROP · deputy. The canal effects connec- tion with a number of others al- The rice crop in Japan will teady existing to form a great in-amount this year to 323,790,350ding a US, $7,000.000 plant to land waterway system from the bushels, or 23 percent. below produce yarn which, it was, be Pulish frontier to Berlin, Magde last season, according to a state-lered, would overcome abjections

to previous Japanese ducts. of Agriculture and Dutch

Belgian frontiers-Ministry us. Hannover and on to the ment issued by the

Forestry last week) Transocean.

Colony Wholesale Prices

and

The Imports and Exports. Department (Statistical Branch) fur- nishes the following index numbers of wholesale prices in the Colony during the third quarters of 1938, 1937 and 1936, and the full years of 1937 and 1936.

The index numbers have been" constructed from declarations. furnished to the Statistical Office by importers and exporters, the year: 1922 being taken as a base, a

Foodstuffs

Textiles

Metals and Minerals Miscellaneous Articlès

› Average

thetic

CHINA'S FOREIGN TRADE FIGURES

Chinese Shangasi

Chungking. October 31:

Joy China's The total value foreign trade in the rst three

of this quarters $1,223,289,335, accor tics compiled by Maritime Customs in

According to the figures, the Importa from January10 september was valued at $643,399. 867, while exports a $559.805. 1922 100

excess of $101, 3rd Qr. 3rd Q. 3rd Qr668 showed an

1938 1936 1937 1938 1937

07,999 tarports over. exports, 113.3 138.2 113.1 138.5 122.09 Comparing these with the Agures 994 117.7 106.1 1201102 for, the "correrponding period last this year's trade balance has 1072 146.1 1084 155.4 1428 925 1244 91.2 130.4128.0

nore favourable to China

103.1181.1 104.7 1363 127,0

825

825

Star Ferries inventative

Zoong Sings (8.) ***** Wing On Textiles (1.) Public Utilities Tramways - LOIRIÚNTATTO Peak Trams (old)...... Teak Tram (neW).....................

Y'mati Ferris CBS

Do

(DOWS

Chana Lights (old)..... bins Lights (new)........... H.K. Electrics........ Macao Electrics ......... Bandakan Lights........... Telephones (old)..

$5.00 Telephones (Dew)..................

231 Trackiony

225/- Tractions (praf.)

Industrials

Cald.acg. (Ord) 8.

Cala, Macz (Prof.) 8. $1.70 Canton loos 316.80 Caments Mo

$4.65 Boppar

Miscellaneous

Dairy Farma un Ch. E'tainments Constructions (old)..... Constractions (DHW).. Lane Crawford........

Напукан Tobacco

314

$13

**

$122

36.40

$4.20

$19

$18

$120

$3.60

$106

-

$17,80

$90 324

$17.1 16.80/90

101

$73

$23)

123

810.70

$10.20

| #58)/2}

195

;

iii

:::

$1.00

$16

14.40

$25

$8.10

$1.70

$2

$7.6

71

Watson *** Ch,G.5%,1996G.83da.

733%

H.K. Gort. 4% Losos

16% pm

$106

H.E. Gort, 31% Login

#100

3471

H.K. Wing Ol'amiran

5474

36,85

B'hai Wing On Learn Vibro Piling mana

案

$4.40

Marymans Izv. (Lon.)

4.

20

Maramane Inv. (H.X}

10/6

Paris

90 ats Wm. Powells

"Bales to Shanghai

190 cta.

LONDON EXCHANGE RATES

(British Wireless Service)

Oct. 20: 178-53/84 20.981 11.90

Geneva Berlin Athens

Milan

Libon Stockholm

Vienna Prague

Oct. 26.

178-51/84

21.03

11.92

5473 45

901

901

1104

19.411

Shanghal

Sd.

New York

4.771

4.761

Amsterdam

8.771

8.751

1391

1384

Helsingfors

2264

Bucharest -

660

Tour Kone

Bombay Montreal

172-15716 1/5-15/16

4.819

28.201

4.80 28.17

1/2

211

19.00

18.05

3.

22.10

Prussels

Yokohama

Bèigrade. Buenos Aires Monte Video

Fud de Janeiro

Copenhagen (g.

OİD Pásové lá

Büver (ForwaȚI) Allrer (Apot) War Loan

ON LONDON

19-7/16 191 33% 99-3/16

Closing Quotations

October 31, 1980.

Telegraphic Transfer... 11/3 Bear Bille, on demand 131 Credits, 4 months' sight 1/8.1/15: N-SHAYAMAI 2- On demand în Sindirəm:--

On New Youx **

19-7/16

Bank Bills, on demand' 291 Credita, 10 days = 297

On Berniaga Afro berez On demand meenut Om Paxtiy—1)

* Bank Bülle, on demand T1095

Credits, 4 months' right 170 nom.

F

On demand

On demand

1051

Me On demand

d. On demand.

ON BIRŐLŐK!

? On demand

Bovertíku Noben |-

1 Bank Buying Rate