1938-11-05 — Page 12

PAGE 12-HONGKONG DAILY PRESS

BANKS

HONGKONG ANDTM

SHANGHAI BANKING

CORPORATION

Authorised Capital ......$80,000,000

THE CHARTERED BANK OF INDIA,

"AUSTRALIA &

Jr

CHINA

Issued & Fully Paid-Up 320,000,000 Incorporated by Royal Charter, 1855 Beserve Funds:

Sterling

£6,500,000 HEAD OFFICE; LONDON: H.K. Currency Reserve $10,000,000, Reserva Liability of

Proprietors

Head Office:-HONG KONG -

Board of Dirnators. T. E. Pearce, Esq., Chairman.. Hon. Mr. J. J. Paterson,

Deputy Chairman.

W. H. Lock, Eaq..

G. Miskin, Esq..

K. S. Morrison, Esq..

Hon. Mr. A. L. Shields,

H. V. Wilkinson, Esq.,.

Sir Vandeleur M. Grayburn,

Finance and Commerce

TSINGTAO'S FOREIGN MERCHANTS HAMPERED

Prohibitive Regulations Framed By Japanese

The

prohibitive regulations set up in July in regard to ex- from Tsingtao

stilt in force, says a Tsingtao.cor

are

ports respondent: Japanese exporters are getting round the regulations, almed at obtaining foreign currency, by chiefly which nerotiating their export documents at Shanghal ät rates and obtaining permits to ship in Tsingtao from authorities

current the loca!

Szechuen

Notes

FROM OUR OWN -CORRESPONDENT

In view of the importance of Szechuen' to the carrying on of the war of resistance, the Central au- thorities have worked out three measures in connection with the reconstruction, of this region: to increase food production. to dredge

to set water channels, and

up and power plants. Investigation surveying are now being conducted, A number of power plants will be established in the regions where Eggs and egg products which, water power can be utilized, wad un-besides groundnuts and ground-the river between Chinsha and their docu-nut oil also form Important Kunming will be dredged.

Tsingtao the Yokohama items of export from through Specie Bank at the omcla! rates and which have hitherto not been for affected, will also, most probably, of 1/2 for sterling and 29

these regulations U.B.S.

38. Bishopsgate EC.2.

$20,000,000 Paid-up Capital

Reserve Fund Reserve Liability of Pro- prietors....

£3,000,000

£3,000,000

£3,000,000

MANCHESTER BRANCH: 71. Mosley Street. Manchester.

J. K. Bousfield, Esq.,

A. H. Compton, Esq.,

Hon. Mr. S. II. Dodwell,

BANGKOK

AGENCIES AND BRANCHES: ALOB STAR HONG KONG PENANG AMRITSAR

RANGOON BAIGON

DATAVIA BOMBAY

Chief Manager.

Branches:-

Amoy

Ipoh

Penang

4

Bangkok

Johore

Rangoon

Batavia

Kobe

Saigon

Bombay

Kowloon

Sun

CALCUTTA

DANTON CAWNPORE CEBU COLOMBO OELEI HALFBONG HAMBURO HANKOW HARBIN

IPOH KARACHI, KLANG KOBE KUALA

LUMPUR KUCHINO STADRAS

SEREMBAN

Other exporters are unable to obtain these permits to ship

SHANGHAI

SINGAPORK

less they negotiate ments

SITIAWAN

SOU BABATA

TAIPING

TIENTSIN

MANILA

TUNGKAH

MEDAN NEW YORK PEIPING

(Bhuket)

Culcutta

Kuala

Francisco

Canton

Lumpur Shanghai

Chefoo

Colombo

Lyous

Dairen

Malacca

Londor Singapore Sourabaya Sungei

Fuochow

Manila

Baipbong Muar

(Jobore) Tientsin

flamburg

Patani Swatow

Hankow Mukden Tokyo

New York Tsingtao

Yokohama

Harbin Bongkew Feining Haile

in

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

Also up to date Sale Deposit Boxes 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

(Peking)

TAINOTAO YOKOHAMA

Europe

ex-

121-

under come

"

*

•

•

1

SATURDAY, NOVEMBER 5, 1938.

PAYNE & CO.

COMMODITY® BROKERS

STOCK EXCHANGE BUILDING

HONG KONG

COMMODITY MARKET REVIEW

(FROM PAYNE & CO.)

SINGAFÖRE RUBBER ·

Nov. 3

Nov. 2 buyers sellers. buyers

28-3/8 23-5/8 29

Change

sellers'

SPOT

23-1/4 28-1/2 off 1/8 JAN.-MARCH

220-1/4 -7/8 29-1/8 ON 1/8 APRIL-JUNE

29 29-1/4- off 1/8 29-1/8 29-3/8 The market opened of a cent lower for all deliveries as compared with Wednesday's closing quotations.

In sympathy with advices from London and New York the market. ruled quiet after the opening. Demand for "actuals" was moderate. whilst dealers and speculators were disinclined to operate to any ex- tent, preferring to maintain side-line positions.

Subsequently, the market became steadier on some speculative buying which, coming on a quiet and narrow market, put prices up by i cent for all deliveries.

""

Closing tone was quiet, but steady.

the 15th. The approaching meeting of the IR.R. Committee on inst, is exercising a deterrent Influence, particularly on speculative activity. In view of this fact it is generally felt that only minor price-fluctuations may be expected until after the meeting.

Malayan Domestic Rubber Experts during October are estimated at 27.000 tons as against 20,500 tons in September and 29.000 tons in

The Chiu Ta Salt Hefining' Com- pany, one of the largest enterprises at Tangku, near Tientsin. and the only large company of its kind in As a result of these strangling soon.

China, has moved to Szechen. It non-Japanese restrictions,"

AN INOPERATIVE SOP

has bought 100 mow of land at porters are forced to remain

shippers As an impossible and inopera-Chien wel where a new retinery is active, while Japanese

and tive sop to the many protests and to be constructed. The Company are selling freely to

the latter complaints of foreign exporters the has also purchased a large amount America, specially to FORTION EXCHANGE and tieneral country and it is reported that Japanese naval and military au-of coal from Lashan, Chlenwel, and

from whose offices|Hsuglu, and a light rällway has August, Banking Business transacted.

they have made sales for Novem-thorities. CURRENT ACCOUNTS opened and ber December/January shipme. these restric "ons have emanated been constructed at Chlenwel and mer-Changchow for the transportation FIXED DEPORITS received for One

Japanese merchants are sell-recently agreed to permit Year or shorter perioda, at rates

shipment chants to ship and also negotiate of the coal. which will be quoted on application. ing on the basis of

port or their documents at Shanghai at any North China The Bank's Head Office in rpm

and current rates, but their remittan- Statistic released by the Chung- London undertakes Executor and Shanghal at their option,

Shanghaling Chamber of Commerce show SPOT frais ces to Tsingtao from Trusten business," and claims re- in the case of oll, Dairen covery of British Income Tax are shipping their.. soya beans for these same shipments had that. goods imported into Chung-JAN-MARCH overpaid, on terms which may be

Yokohama king during the past seven months APRIL-JUNE to Tientsin to be crushed there to come through the ascertained at any of the Agencies for shipment from that port, thus Specle Bank, whose charge for were valued at over $14,000,000. this transfer or remittance is an-Cotton yarn topped the list: mine- and Branches.

R. A. CAMIDGE

proximately 40 per cent.

ral products came second.

THE CHASE BANK

benefit of

current

Manager.

getting the exchange rates there

FINANCING DENTED Tsingtao merchants are not even granted the normal financing facilities, documents for being sent to destination collection, the bank refusing to purchase the documents for cash or credit,

will In they grant an overdraft. other words, all non-Jap- forced to anese exports are remain idle, with Japanese merchants monopolizing business.

nor

the

15, QUEEN'S ROAD CENTRAL

HEAD OFFICE:

& SHANGHAI BANKING COR-

Rules may be ob- An PORATION.

i

tained on application.

For the HoxG KONG & 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

3,599,800.00

2,776,726.76

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

Board of Directors:""

Sir Shousou Chow, Chairman Li Koon Chun, Esq. Li Lon Bang. Eng. Wong Chuson, Esq. P. K. Kwok, Esq. Wong Yun Tong, Esq.. Kan Ying Po, Esq. CharChingShek, Esq. FangPingWah Raq.

Kun Tong Po, Esq., Chief Manager. Li Tee Fong, Esq., Manager.

Amoy

Batavia

Tambay

Chaloutta

Centro Ifalpheod Hankar

Honolulu Kobe

#241

Branches and gentiorem

18, PINE STREET,

NEW YORK.

American Bank offering com-" plate Foreign Banking Service in the principal Markets of the world.

Interest Rates on Application.

SAFE DEPOSIT BOXES

This Bank is entirely owned by THE CHASE NATIONAL BANE, NEW YORK, with Resources over US. 30.000,000,000.

D. M. BIGGAR,

Manager.

BANK OF CHINA

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

BANK

It is understood that these same

in

In other words, after selling their export" documents Shanghai at the current rate of say "88, or U.S.S16 and realizing say 2 sum Ch.$10,000--this sum on be- Tsingtao ing transferred" to through the Yokohama Specie Bank, would only exporter "Federal" Currency 36000. This of cöntse le as prohibitive the original

restriction

net

the

NEW SHANGHAI COTTON MART

With a capital of one mill- Hun yen a Sino-Japanese com. pany has completed" prepara- tions to open # cotton CI- accord- change in Shanghai, ing to a report from Osaka.

The 'report stated that the ex- change will be capitalized with by Jap- It is reported that ane large 7.500 shares subscribed regulations will in the near fu- foreign shipper, with branch office lanese promoters, 5.000 shares by

cotton the Japanese

mills and ture be extended to all North at Shanghai decided to give this"

7,500 shares by the Chinese Cot- test and alternative a Chefoo, latter China ports-Tientsin,

ton Goods Exchange, Ltd, ar Jap- Shanghai will after being assured by the Welhalwet-and

Shanghai. be considered 3. foreign port, anese Consulate that the ship-

order. Goods to be handled at the new which means that import and ment would be quite in export duty will be levied on all was surprised on applying for exchange will include raw cotton. the naval | cotton yarn, cotton plece goods gouds going in or comink out of permit to ship from

At and rayon silk.

the outset Shangha

authorities to be flatly refused.

the exchange will limit, its busi- aess to raw cotton. and cotton COMMISSION'S yarn and the other goods will be REPORT

London, Nov. 4. The Colonial Secretary has asked The rade agreement cluded between Germany and the Governors of, Gold Coast and Nigeria for their observations on Eire amounts in the main to

GERMANY-EIRE

TRADE PACT

Dublin, Nov.

4

can-

of the existing agreements

E

ICOCOA

be- sion's

handled,later.

الله

It was understood that transactions will be conducted in Chinese national currency.

LONDON RUBBER

Change

Previous close To-day's close buyers sellers buyers sellers B-5/16 B-3/8 8-5/18 8-7/18

unch. B-3/8 B-1/2 8-7/16 8-1/2 up 1/16 8-7/16 8-9/16 8-1/2 8-9/16 up 1/16

Market qulet but steady...

“NEW YORK COTTON"

Early in the session the market advanced moderately on higher Liverpool and Bombay cables, as well as covering and speculative and foreign buying: Later, values reacted on hedge selling and the liquidation." Switching operations were much, in evidence in afternoon and the market ruled quiet and arrow. Most operators are reluctant to enter into new commitments. Finally, the market closed steady.

NEW YORK RUBBER

Early in the day. the market advanced on higher cables from abroad. There was some covering orders, as well as buying by Com- mission houses and London factories. Later, values further advanced on Trade and local buying.

CHICAGO WHEAT

foreign advices. The market declined on Hquidation and weak Reports of beneficial rains helped to depress values. Later, prices rallied partially on professional Buying and a better milling demand, plus covering by shorts.

N. Y. Commodity Market

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

New York, November 3. prolongation for a further year the West African Cocoa Commis-

New York Cotton Dec. report. Far-reaching re- RADIO TOUCH WITH

New York Rubber tween the two countries. the commendations, he told the House

LINHSIEN

Chicago Wheat agreement being extended to in-of Commons yesterday, would re-

Wireless telegraph messages for Chicago Corn quire careful consideration. clude Austria and Sudetenland.

The Colonial Secretary said that Linhsien, the present seat of the Winnipeg Wheat New arrangements are made to

the present cocoa erop in West Kwangtung Provincial Govern- with eggs, supply Germany

Africa was being marketed without ment. meat, cattle and herrings.

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 Suribaya Karoon Leadon Bangoon Śwntow

the World, we are able to extend By daar Hanila

to our Clients special facilities for to mare to the value of Trinoku Helbourne Barn- Nagtanka

ciao Tiantais

Domestic and Foreign Banking and Tokyo New York Bottle

Exchange.. Bemarang Vancouver Tokohama Shangari

Üks

Taria

Pripleur Slogspor

+

Head Office: SHANGHAI Hong Kong Branch:

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

Every description of Banking and Exchange business transacted. Товда granted on." approved

CANTON securities.

Current Accounts opened in Local SWATOW

SHIUCHOW Currency and Fixed Deposits re- ceived for one year or shorter periods in Local, and Foreign Cur.

KONGMOON TOISHAN

KINGCHOW

We also handle the issue of

Bonds and other Public Funds of on terms which will be the Chinese Government both at quoted on application.

rencies

Eafe Deposit Boxes To Let.

KAN TONG PO,

Chief Manager.

THE MERCANTILE BANK OF INDIA, LIMITED

Head ofco:-15, Gracechurch Street,

London, EC3

Authorised Capital

Subscribed Captai

Paid-up Capital

Rewire Fund and Rast.....

BANKERS:

23,000 200

£1,90700

21,060,000 £1,247,950

The Bank of England and Midland

Dagkok Boxibay

Cardbo

Delki

Bank, Ltd. BRANCHES:

Jpoh

Kandy Kota Bharu

Kand

Hongkong Howarhala Twargan

Madraa New York

Perang

RAHGOR

Shangha

Bala

Bingspore

"HONGKONG FRANCEL

ing and Exchange

· Travellers' Dieser Jak Á TRUSTES, AND EXECUTORSHIP' BENSON UNDERTAKEN.

CURRENT ADOOL KÉS osades in Logal: Char they wXED DEPOVILs verleed in Loană Ourrency, BIEBLING & 1,5. DOLLARS on terms that may certained on application:

DABENSON.

Home and Abroad.

SHOU J. CHEN,

Manager.

DONT FORGET

THAT WHEN

You are at Home you can get the

HONG KONG DAILY PRESS at SELFRIDGES.

are

In the first rilne months of the diffct y, though at a low price. Cable and Wireless Ltd. current year, Germany exported

£1.132.

185 and imported from Eire to the 01. £765,490.-Transocean.

value

AIDING RURAL

ECONOMY.

West Africa-British Wireless...

WHEAT SHIPMENT

TO SHANGHAI

a" word. via Chengtu

Prev. To-day's High Low Close Close Change 8.5-4 8.49 8.54 8.49 05 of

18.50 16.79E 16.95

1 of

.01 up

02 up

Dec.

'16,95

.18 up

Dec. -Dec.

Dec.

634

621

634 631

off

441 #4

441

441

off

57 58+

571 57

which inevitably had an adverse regular inland rate of effect on volume of Imports into

being accepted

at the 40 centa -Messages are routed December

by

NEW YORK COTTON

Close

Opening

Closing

Change

8.54/54

8.51/51

8.49/50

.05 off

WENCHOW SAILINGS October()

January (1939) March May July

8.44/44

8.43/44

8.43/43

01 OF

}

8.41/422

8.41/43

841/41

unch.

{

8.26/28

8.27/21/

8,25/25

.01 off

) ....

8.15/15

8.17/18

8.16/17

7.90/90

7.93/92

7.92/92

SUSPENDED

Spot

9 01 N

8.94 N

.07 ON

NEW YORK RUBBER

16.79b/84a

16.30/82

16.82/82 16.84/85

16.85b/92a 16.00/90.. 16.92/92

18.95/95 16.96/98

.16 up

.18 "up

16.93/93

11 up

16.92b/95a 16.93 N

.08 up

Sales for the day:-

1,900 tons

December May

July

Wednesday's Sales: 4

CHICAGO WHEAT

631/631 63/022 651/08

05/042 -***, 651/85

10,219,000 bushels

831/63+ 851/651 651/651

of

off

of

has The Ou River at Wenchow

A shipment of 10,000 bags of The Bureau of Farm Credits. American wheat is expected to with the help of the various pro-arrive in Shanghat in an Ameri-been closed to shipping since

military December vincial governments is now ald-can ship shortly. This represents November 1 by Chinese ing rural co-operative undertak-the first shipment of UB. wheat headquarters, and it is learned March

the to flour mills in the

decided May northern that coastal ships have ings already established In "

setting port which have been suffering to omit calling at the port until September various provinces and 1s

a shortage of the grain.

further notice.

October ... up new ones.

Co-operative granaries are be- ing organized to the end that rural conditions may be improved and farmers are being given amall credit loans at low interest rates for urgent needs.

rural

Co-operative experts and economy experts have been de- tailed by the Bureau to carry out these measures.

P. I. TOBACCO EXPORTS

Leaf tobacco exports from Manila during the week ended October 22 increased substantially while cigar and cigarette shipments declined, according to figures comiled by the F. L Bureau of Commerce.

British Traders Protest

Against Premier's Stand

Shanghal November 4.

The British Chamber of Commerce here, in a vigorously worded cable to London for transmission to the Foreign Office, protests acainst the statement by the Prime Minister in the House of Com-December mons in regard to the future of British trade in China.

The telegram declares that the Chamber does not feel the optimism expressed by Mr. - Chamberlain is justified an... less the British Governmesit is prepared to support" that: 09- timism by mach firmer action than hitherto shown.

PROPOSED PLANT

FOR YUNNAN

å paper and a sement factory is expected to be set up shortly (Yunnan) through

May

July

December May... July

Tu December merchant March

Total exports of leaf tobacco-dur- ing the period amounted to 42,199) quiritals. These compare with only The messare adds that the Amein Kunming 5.494 quintals for the previous rican and French Chambers of the joint efforts of Messrs,

Commerce in Shanghai, who are Yueh-sen Shanghai week

Cigar shipments, on the other working in close association with now in Hongkong, Y. M. Chien. hand, tell to 2.094,880 units from the British body are also most Chairman of the Board of Direc 7,108,057 of the preceding week perturbed by the complacency toms of the Bank of Communica- Exports of cigarettes likewise drop- shown by Mr. Chamberlain, which

tions, and other well-known ped sharply to 170,000 units from is entirely contrary 10 fact

bankers 9,105 200 of the preceding week

Reuter.

December

CHICAGO CORN

442/444 444/444 443/443 **8/481 471/471 491/491

888

영험

473/473 49/49

of

321/574 61/81

WINNIPEG WHEAT

567/581 602/60

·57/01 *: 600/601 61/61

ou

NEW YORK HIDES: (New. Contræets):

19:04b/10 13.06/07 13.00b/0ła 13,42/42 13.45/47.13.38/40-

NEW YORK STRAITS TIN

46.05/05*

BY Bilver, Official Ap 42-3/4 NY-L'don Cross Kate./4.75-11/18

46.10b/30% 48,15b/30-

42-3/4

4.78