1938-11-04 — Page 13

PAGE 12-HONGKONG DAILY PRESS

BANKS

HONGKONG AND SHANGHAI BANKING

CORPORATION

Authorised Capital $60,000,000 Issued & Fully Paid-Up $20,000,000 Reserve Funds

Starling

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA Incorporated by Royal Charter, 1858

..£ 6,500,000

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

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

Proprietors

.#20,000,000 Fald-up Capital .....................

Reserve Fund Reserve Liability of Pro-

Head Office:-HONG KONG

Board of Direstora.

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

Deputy Chairman.

J. Bousfeld, Esq..

A. B. Compton, Esq..

Hon. Mr. S. H. Dodwell,

K. S. Morrison, Esq..

£3,000,000 £3,000,000

prietors......... £3,000,000

MANCHESTER BRANCH: 71. Mosley Street, Manchester.

AGENCIES AND BRANCHES: ALOR STALL HONG KONG PINANG AMRITSAR

BANOKOX

BATAVIA

BOMBAY CALCUTTA

IPOR KARACHI KLANG

KOOK.

CANTON

KUALA

W. H. Lock, Esq..

G. Miskin, Esq.,

Hon. Mr. A. E. Shfelds,

H. V. Wilkinson, Esq.,

Sir Vandeleur M. Grayburn,

Chief Manager. CAWNPORE

Johore Rangoon

LUMPUR

CEDU

XUCHING

COLOMBO

MADHAB

Branches:-

CELEI..

MANILA

Amoy

Ipoh

Penang

|ExIFEONG

Bangkok

HAMBURG

Batavia

Kobe

Haigon

Bumbay

Kowloon San

BANKOW HARBIX

Caloutta

Kuala

Francisco

Canton

Chefoo

London

Colombo

Lyons

Singapore Bourabaya

Lumpur Shanghai

Dairen Malacca Bungei

Voochow Manila

Haiphong Muar

Pataui Bestow

BANGOON BAIGON

SEREMBAN SHANGHAI

SINGAPORE 3171AWAN

BOUBABAYA TAIPING

TIENTSIN

ΤΟΝΟΣΛΗ

(Bhuket) TSINGTAO YOKOHAMA

MEDAN NEW YORK TEIPING

(Paking)

FOREIGN EXCHANGE and General Banking Business transacteu.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods at rates which will be quoted on application.

The Book's Hend Office in London undertakes Executor and New York Tsingtao

Trustee business, and claims Yokohama Hongkes Peiping [loilo

Hamburg (Johor) Tientsin Bankow Mukden Tokyo Harbin

*

of British Income

Tax

., .

Finance and Commerce

Good Operating Results Of Philippine Mines

DEMONSTRATION'S DISCOVERY,

SAN MAURICIO'S RECORD. "ITOGON'S HIGHER OUTPUT

Steady operations have marked' the "progress of the Philippine Mining Industry during the last week in October. News from some of the mines during the period has been generally good, with future the prospects excellent." A few of the encouraging highlights in week's news were reports on the discovery of good values in the oxide section of Demonstration Gold Mines, cutting of commercial values at Antamok Goldfields and announcement by the MarsuMI Interests of a new record production" by San Mauricio.

Demonstration

Demonstration Gold Mines Limit-

Itogon

Development advance at Itogon ed reborted that certain sections Mining Company during the past

DOLLAR LINES'

NEW NAME

Sailings Being Resumed To-day

American President Lines is the new name of the re- organised Dollar Steamship Company, according to in- formation received by cable by the local, office of the Com- pany yesterday...

SPOT

FRIDAY, NOVEMBER 4, 1938.

PAYNE & CO.

1

COMMODITY BROKERS

STOCK EXCHANGE BUILDING

HONG KONG

COMMODITY MARKET REVIEW

(FROM PAYNE & CO.)

Change

SINGAPORE BUBBER

Nov. 1

Nov. 2

buyers

sellers

buyers sellers

28-/18

28-3/8

28-5/8

28-7/8

·28-3/8 -28-5/8 29

up 1/4

28-3/4 29

29-1/4 up 3/8

29-1/8 29-3/8 up 3/8

Steady conditions prevailed in the Singapore market throughout the day, thus reflecting better sentiment displayed by the London and New York Rubber Exchanges

Good demand from, consuming centres for "spot" Rubber stimul- ated active buying of forward positions for trade and speculative accounts. Due to the reserved attitude of sellers only a moderate

Mr. Joseph R. Sheehan, newly- JAN.-MARCH installed president of the Com-APRIL-JUNE

states. that no other The market opened i of a cent higher for all deliveries as com pany, name could be more atting, since pared with Tuesday's closing quotations. the Dollar ships are known all over the world as President liners and each vessel was named after an The word of the oxide ore have been opened month amounted to 3,852 feet. Of American president.

moreover, gives the up, showing a good grade of ore the 2,384 feet of capital advance, American.

to sufficient balance somewhat 443 feet were in ore, as were 770 ships flag identity.

All President liners are at pre- lower grades in the sulphide sec-feet of the 1,568 feet of operating

advance.

sent being reconditioned and re-volume of business was transacted at quoted rates. tion.

Later in the session persistent additional buying caused a further the company decorated so as to make them Production of the company for

Pesos 142,495.64 amounted to Pesos 339,537.06 from conform to the most exacting de- price-advance of cent for all deliveries, but the higher rates at-: September Was from $9,500 tons of ore treated as 30.314 tons of ore treated. Re-mands of modern travel.. Over tracted selling. Subsequently the market, lost this light gain, closing

with a quiet undertons. compared to Pesos 148,014.12 from covery per ton was Pesos 11.20 $2.000.000 is being spent on this 9.978 tons of ore milled in August. while extraction was 86.38 per cent.work.

The output was somewhat higher than that of August,

Antamok

་

Production

for

It was announced that total shipments, of Rubber from Malaya daring October amounted to 42,294 tarts, as against 40.992 for Sept.

LONDON RUBBER

every

SPOT JAN.-MARCH APRIL-JUNE

Previous close To-day's close buyers sellers buyers sellers 8-5/18 3-3/8 8-5/16 8-3/8

8-1/2 B-3/8

8-3/8 8-1/2 8-9/16 8-1/2

8-7/16 8-9/16

Change

unch.

unch.

of 1/16

Market quiet but steady.

CARGO FACILITY, Regarding cargo facility, it is and 47,248 tons for August 1938. stated that refrigerated cargo The main cross-cut on the 1480

United Paracale

hatches have been revamped level at Antamok Golddelds inter- cepted the 483 structure 320 feet Development advance at United and modernised, and the instal- southwest of the shaft, the com- Paracale totaled 1.588 feet. 933 lation of the latest air-condition-- makes possible equipment pany reported during the week. feet capital and 653 operating ad- ing Commercial values were cut against vance. Of the capital footage 254 carriage of fresh fruits, vegetables

good of perishable overpaid, on terms which may be the hanging wall of the zone.feet were in ore, as were 140 feet and

the of the operating development. description. ascertained at any of the Agencies Drifting will be started to opened

new completely

sailing east to connect with the 29 winze The company produced Pesos and Branches..

further develop this 223,403.76 from 9,418 tons of ore schedule has been. released; and treated. Recovery per ton was provides for weekly, trans-Pacific The cutting of values at thPesos 23.72, while extraction was callings and fortnightly round- the-world services. Yokohama is position is considered encouraging 89.79 per cent.

being made a port of call in the as it is some 200 feet from the end

covery

in

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

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

Hong Kong, 7th October, 1938. -

HONGKONG 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. Graybürn,

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

LIMITED.

Authorised Capital $10,000,000.00) Paid-up. Capital ................. 5,508,800.00 Beserve and Undivided

Profita

R. A. CAMIDGE,

Manager.

and to horizon.

THE CHASE BANK

15, QUEEN'S ROAD CENTRAL

HEAD OFFICE:

ו

18, PINE STREET,

NEW YORK.

An American Bank offering com- 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 CHALK NATIONAL BANK, New York, with Resources over U.S. $2,300,000,000.

D. M. BIGGAR,

Manager.

2,776,726.76

BANK OF CHINA

Head Office:-HONG KONG

No. 10, Des Voeux Road, Central

r

Board of Directors:

Bir Shouson Chow, Chairman

Li Koon Chus, Esq. Li Lan Sang, Esq.

P. K. Kwok, Baq. Wong Chuson, Ex].

Wong Yun Tong, Esq. Kas Ying Po, Exq.

Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE

BANK.

а

Coco Grove

A

round-the-world service. Shang-

NEW YORK COTTON

NEW YORK RUBBER

Prices early declined on" liquidation, realising and hedge-selling. but later rallied on better Liverpool and Bombay cables, covering by shorts and some speculative buying. Prices then advanced further. of the ore shoot on the 1250 level and may possibly indicate At the Coco Grove, mine, the hat, however, is still omitted from especially for later months, on foreign and commission house buying lengthening of ore shoot with dredger" "Mary August handled the new schedule, but the Com-and the market finally closed steady. depth. The main shaft is being 187,505 cuble yards of gravel from pany intends to resume calling at continued to the 1680 level to open which Pesos 53,073.74 was pro-the port as soon as possible.

are the Pre- to

First sailings similarly this horizon

theduced. Production totaled Pesos development on the 1460.

92,012.03, which is lower than that sident Adams, which leaves New for the previous month in ac-York to-day and the President cordance with estimates, since both Monroe, which leaves San Fran-

were working in low-cisco to-morrow dredges grade ground.

San Mauricio The feature of the September operating results of the Marsman managed mines was the establish. ment of a new monthly production record by San Mauricio Mining Company.

J

Suyoc Consolidated.

The development advance at Su- yoc Consolidated was 1,388 feet.

The four lode and two. placer 1968 feet of capital and 420 feet of operations of this group produced operating advance. Of the capital Pesos 1:187.927.14 from 55.282 tons advance 77 feet were in ore as of ore treated and 399,452 cubta were 15 feet of the operating yards of gravel handled. The development,

The company's mil treated 8.545 total output was "practically the same

as that of the previous tons of ore during the month month, in spite of one less work-from which Pesos 146,558.10 was recovered, a recovery per ton of ing day.

Pesos 22.39. Extraction was 88.54 per cent.

BRITISH FINANCE

Gold Star

Szechuen Notes

(FROM OUR OWN. CORRESPONDENT)

With a view to reclaim frontier lands in the southwest and north- General Lung Yun and west. Messra. Cheng Kuo-fu, Liu Tse- chlen and others have sponsored the organization of the Hus Hai (West China) Reclamation Com-

Gold Star Mining Company made pany, capitalized at $10,000,000. “A its second shipment of iron ore on preparatory office has been estab-

AND COMMERCE October 18 on the 2. 8. Binna. The fished and capital of more than

shipment amounted to 5,500 tons, $3.000.000 has been subscribed. the ore being loaded at its port at

Chan ChingShex, feq. FungPing Wait Faj. PAID-UP CAPITAL 140,000,000.00 Industrial Efficiency Balanacat. The company is now

Kaa Tong Po, Esq., Chief Manager.

Li Tae Fong, Baq., Moonger,

Dark

Haiphone ILAR KOT

Code

Kowloon Panade Bourabaya

Blow Mamila Balen Bydney Malwers Baba Taibaka lace Tintain

Banarnog Vamodusz Parie Stanguel TORRE Pelping Slagors

New York Bulle

Canka

Takro

(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:

Every description of Banking and Exchange business transacted. CANTON Loans. granted. OD Approved SWATOW securities.

KONGMOON TOISHAN SHIUCHOW KINGCHOW

The all-round growth of Bri- has tish industrial activity been

recent very great in years, and since 1924 it has Increased by no less than 29 per cent.

HIGHER CONSUMPTION

OF LUXURIES

For storage of foodstuffs in this Province, a loan of $1,200,000 has

As an indication of the increased teen granted by the Agriculture That is the outstanding deduc- tion of a recent authoritative en-consumption of luxuries brought Bureau to the Food Control Com- quiry into output, wages and em- about by the flocking here of mittee. ployment in the United Kingdom. many wealthy Chinese, imports

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

quoted on application.

Safe Deposit Boxes To Let

KAN TONG PO,

Chief Manager.

"NACET" BLADES

FOR THREE

PEG RAZORS

:*

Prices opened lower on lower advices from the foreign markets

operations. Movements and thereafter business. was quiet and of a routine nature with the throughout were narrow and prices declined towards the close on bulk of activity attributed to straddling freer offerings from the primary markets.

CHICAGO WHEAT „

Predictions of showers in parts of the South-West dry areas caus- ed a lower opening and prices further eased on disappointing Liver- pool reports and lack of foreign demand Latterly, the market steadied on advices of deterioration of the crop in Oklahoma, on private estimates indicating a reduction in Winter wheat acreage, the strength of the Winnipeg market and a better feeling on Wall Strect

"

Market steady. More general inquiry.

N. Y. Commodity Market

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

3.54 utch. 18.85 16.80 16.85 16.79b .06 un

654 441

442

+ up

unch.

ti

F

New York, November 2.

Prey."To-day's

Native tanks ip Chungking are shipping iron are twice a month, considering the possibility of con- ducting joint business, and discus- alon in this mätter have been go- ing on for some time.

High

•

New York Cotton - Dec. Dec. New York Rubber

- Dec. Chicago Wheat

-- Dec. Chicago Corn Winnipeg Wheat - Dec.

Low 8.55 8.51. 8.54

Close Close Change

031 631

631

+ up

441.

441

.

+ **

572 584 571 571

NEW YORK COTTON

Closc

Opening

Closing

Change

December

8.54/55

8.53/52

8.54/54

unch.

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

which takes 1924, 1930 and 1935 into Hongkong in September of Five cotton mills, Ta Cheng, Yu the most appropriate" years for sharks' fins, one of the prized de-Feng, Ho Chi. Yu Hua. and Shen

are licacies, amounted to 667 piculs, Hain, which have moved to Sze-July comparision, because they

January (1939) March

8.43 N

8.41/41

8.44/44

.01 up

(

8.41/41

8.40/41

8.41/42

unch.

May

}

-6.24/22

8.22/22.

8.28/28

.04 up

. („

8.09/10

8.10/10

8.15/15

.06 up

years of more or less equal business being

an increase of 261 piculs chuen from the war areas, are October ( )

Spot over this figures in the correspond-constructing buildings and will re-

Isume operations next spring, ing month of 1937.

7.77/77.

7.78/78

7.90/90

13 up

9.01 N

9.01 N

NEW YORK RUBBER, İ

16.87/87

16.85b/87a 10.80b/95a

18.88/87

16,79b/84a 16.80/82

".00 off

107 of

16.89/89 16.91b/92a

01 off

16.84/85

1,800 tons

CHICAGO WHEAT

December May

631/631

651/654

July

851/85+

Tuesday's Sales:

18,552,000 bushels

CHICAGO CORN

441/441 484/481

447/444 48/48

441/441

48/48)

491/491

101/491

WINNIPEG WHEAT

601/601

571/574 671/572 6017604 61761

BHOU J. CHEN,

NACET"

REOD. TRADE MARK

MADE IN ENGLAND

building, mining. Excluding quarrying and public utilities, the purely factory-trades increased Manager. their volume of output by 5 per cent. In the 1924-30 perlod, but in increase the 1930-35 period the

Nacet's achievement in produc- ing a low-priced blade of con- sistently fine quality has been a land-mark in the history of shaving. It has brought within the reach of thousands, the luxury of a daily shave, perfect in its smoothness and keenness, without adding in the least to their annual expenditure on blades.

I was no less than 221 per cent.

.7

As regards labour, the output per operative, which had increased by In the former cent per

by # further 20 period, rose

the

Пve next cent. In per

Thus from 1924 to 1935 years. the annual increase in output was about 23 per cent, an annual rate of development which is unsur- passed in the history of British industry,*

RECORD CIGARETTE

PRODUCTION

1038 15,891,586,977 477,595,984 27,506,542 2.996,448

1937 16,097,837,300 452,897,908 23,351,831 3,009,478

1938 13,430,194,483 445,975,627 24,014,224 2,741,396

August: Cigarettes

Cigara Mird. tob, ibs. Snuff, lbs.

Eight mos.: Cigarettes Cigars

109,531,541,119 3,276,764,131

Migd. tob, lbs, ...... Snuff, lbs.

202,650.155

24,093,827

December March

May

September

Sales for the day:-

108,482,721,754 3,472,189 290 *203.430,612

24,050,897

100,817,959,250

3,282,084,297 207,368,270

25,285,605.

Deceinber May July

Cigarette production in the which amounted to 15,290,072,227

The record production in August

Since 1935 the pace of industrial output in Great Britain has still further accelerated, and it is con- fidently predicted that 1935-1940 United States during August-sur- units will show an even higher rate of passed all previous totals as it re- advance than the preceding five-bounded sharply from the low level was the third time in the history December year period.

and widened the increase for the of the industry that more than 15 May sear far over last year's, according million cigarettes had been pro- to figures compiled by the Depart duced in one month. The previous ment of Commerce at Washington record totals were noted in July

Land August of 1937.

NEW FIRE-BRAZIL

TRADE PACT

Dece

Production in August totalled ¿Cigar production likewise show- March 15.891.586.977 units as compared ed a substantial increase in August, Dublin Nov. 3 with 15,097,837,400 for the same although, having run consistently. The commercial agreement be month of 1937. Prior to August behind last year with the exception

16.81b/90a16.82/82

631/631 637/831 651/651 651/66

651/654

HNDER: (New NEW YORK HIDES: (New Contracts)

13.156/22a 13.11b/202. 13.04b/10a- 13.556/57 13,51/50 13.42;42

NEW YORK STRAI IS TIN

46.205/402 48.056/204

46.05/05 42-3/A 4.75-11/16

tween Eire and Brasile being this rear, the greatest total for a of, June. Manufactured tobacco December prolonged pending conclusion or a single month's cigarette production output rose white anu declined Ny Bifver, Oficial ...... 42-3/4

NY-L'don Cross Rate... 475-7/16 Awwa registered in July of last year, slightly fr now agreement.

Rehter.

107 off

up

unch.