1938-11-10 — Page 12

PAGE 12-HONGKONG DAILY PRESS

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:

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

Sterling ......

£6,500,000

Reserve Liability of

Proprietors

HEAD OFFICE: "LONDON:

38. Bishopsgate E.C.2.

.$20,000,000 | Paid-up Capital ........ £3,000,000

Head Offlen-HONG KONG

יד

Board of Directors.

T. E. Pearce, Esq., Chairman.

Hon. Mr. J. J. Paterson,

Deputy Chairman.

Hon. Mr. S. H. Dodwell,

Reserve Fund Reserve Liability of Pro-

prietora........

£3,000,000

£3,000,000

MANCHESTER BRANCH: 71. Mosley Street, Manchester.

Sir Vandeleur M. Grayburn,

Chief Manager. CAWNPORE

SINGAPORI

SITIAWAN BOURABAYA, TAIPING TIENTSIN TONGKAK

}

1. E. Bousfield, Esq.,

A. E. Compton, Esq.,

W. H. Lock, Esq..

G. Miskin, Esq.

A

BANGKOK

IPOH

AGENCIES AND BRANCHES: 4203 BTAR HONG KONG PENANG

RANGOON ILOILO AMBITBANK

BLIOON

K. S. Morrison, Esq.,

BATAVIA

"KARACHI

Hou. Mr. A. L. Shields,

BOMBAY

H. V. Wilkinson, Esq...

CALCUTTA CANTON

KLANG XOSE

.. SEREMBAN

BHANGHAI

KUALA

LUMPUR

CHAU

KUCHING

Amoy

Branches:- Ipoh

COLOMBO DELHI

MADRAS

Penang

Bangkok

Johore

Rangoon

Ratavia

Kobe

Saigon

Hombay

Calcutta

Kowloon Kuala

HAIPHONG ЗАМЕСВО HANKOW HARBEN

Canton

Chefoo

Colombo

Dairen

Malacca

Foochow

Manila

Haiphong Muar

San

Franciscu Lumpur Shanghai

Londor .. Singapore. Lyons

Sourabaya Sungei

Patani Swatow Hamburg (Johore) Tientsin. Hankow Mukden Tokyo Harbin New York Thingtao Honghew Peiping Yokohama 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 Roxes 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 Howa KoxG & 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 5,008,800.00 Reserve and Undivided

Profits

2,770,728.70

Head Office:-ÏONG KONG

No. 10, Des Voeux Road, Central.

"E

Board of Directors:

Bir Shouson Chow, Chairm Koos Chun, Esq. Li Lan Sang. Esq. K. Kwok, Esq. WingChoBoa, Esq. Wong Yun Tong, Esq. Kan Ying Po, Esq. ChanChing@hek, Esq. FungPlogWah Esq.

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

Branches and Agencies -

Boersbaya Sustaw Bydney Melbourne bax Tenn. Tainoka

olata "

Takjo Tasomrar Yokoham

Amay

PORAGE Karico

Bataris

Landos

Jasoos

Bombay

Canton

Haiphong

Hanlon

Hominis

Kobi

New York Saattis

Berg Shaaghal Priping Elagspore

Omka

Paris

Finance and Commerce

PHILIPPINE MINING REPORTS GOOD

Increased Production; Excellent Earnings

Favourable reports on operations and development work are. features of news of the Philippine mining Industry for the week end- ed November 5. Increased production is reported by the Benguet Consolidated group of mines; San Mauricio has reached a new re- cord output, while the Soriano interests announce satisfactory quar terly earnings. Of importance is the fact that mills of new mines are reported to be starting operation and progress is being made on the installation of others. On the whole, exploration work on many mines continues to reveal rood values.

Mining

Soriano Mines

| RECONSTRUCTION

OF SIKONG

-Government Plan Now Under Way

Chengtu.. Nov. 9. For increasing and streng- thening economic production and utilizing the natural re- sources of Sikong, a 'govern-' province ment for that new

will be established soon.

A highway to connect

the

THURSDAY, NOVEMBER 10, 1938.

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING

HONG KONG

COMMODITY MARKET REVIEW

APRIL-JUNE

+45

(FROM PAYNE & CO.)

New York, November 8.

12

SINGAPORE RUBBER

Nov. 7

Nov. 8" buyers sellers buyers, sellers

Change

-28-5/8 -28-7/8

29-1/8 29-3/8

20-1/2 29-1/4

28-5/8 28-7/8 29-1/4-29-1/2 29-3/8 29-5/8

unch. up

1/8

up 1/3

The market opened 1/8 of a cent higher for all deliveries as com- pared with Monday's closing quotations,

Szechuan border with Kangdan. important point in Skong, will be SPOT completed at the end of this year. JAN-MARCH ..........

Mr. Yip Shou-fung, member of the Executive Yuan and Chairman of the Sikong Reconstruction Com- Benguet Consolidated

Earnings of the three gold pro-mittee, arrived in Chengtu recently Benguet Consolidated Company and its allied companies ducing mines of the Soriano inter-from Sikong, en route to Chung- reported increased monthly pro-ests for the three months ending king. He will submit the budget duction for October. The total September 30, 1938, totalled nearly of this new province for 1939 and tonnage of ore treated by the four Pescs 1,400,000. The figures were will discuss with Central Govern authorities reconstruction (Bhuket) Benguet producers for October was exclusive of depreciation and ore ment

Antarmok Goldfelds problems of that province. 83,531, valued at Pesos 2,239,551.52, depletion.

Technicians who accompanied or about Pesos 100.000. more than earned Pesos $19,927.16. or Pesos last month's production of Pesos 0189 per share. Masbate Consoli-Mr. Tai Chi-tao. President

dated showed an earning of Pesos Examination Yuan, on his recent 2.140,328.38.

data which The individual production of the 447,022.44, or Pesos 00894 per investigation tour in Sikung, have four allied companies follows: share. IXL earned Pesos 428,133, obtained facts and

Total Tons of Ore

35. equivalent to Pesos 0285 per will be valuable reference for the development of Sikong-Our Own Milled Value share:

Correspondent. Balatec Mining

Company..... 37.553 Benguet Consol-

TSINGTAO YOKOHAMA

MANILA

MEDAN NEW YORK PEIPING

(Peking)

FOREIGN EXCHANGE and General Banking Business transacted.

CukзENT ACCOUNTS opened and FIXED DEPosits received for. Ons Year or shorter periods at rates which will be quoted on application. The Bank's Hend Office in London undertakes Executor and Trustee business, and claimi re- covery of British overpaid, on terms which may be ascertained at any of the Agencies and Branches.

R. A. CAMIDGE,

Income

Tax

Pesos: 1,082.508.58

idated Mining Company 33,008 Cal Horr (B. C

M. Co...... 6,666 Ipo Gold Mines,

Inc.

Manager.

Totals

...

Antamok

8,304

83,531

Antamok

Goldfelds

103.519.98

2.239,551.52

Mindanao Mother Lode Net operating profit of Mindanao Mather Lode during the third 959,067.44

and quarter, after depreciation operations, amounted to Pesos-126. 114,457,54

191537.80. During the period, that is, for the months of July, August and September, the company produced A total of 2.374 13,988 tons of ore.

SILVER FROM SIAM

Large Shipments To America

THE CHASE BANK

18. QUEEN'S ROAD CENTRAL

"HEAD OFFICE;

18, FINE STAKET,

NEW YORK

An Auerican 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

THR CHASE NATIONAL BANI, NEW YORK, with Resources over U.S. $2,500,000,000.

D. M. BIGGAR,

Manager.

BANK OF CHINA

THE

Specially Chartered by 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 sud 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

4, QUEEN'S ROAD, C.. South China Officer: and Exchange business transacted. LORDS granted.on

approved

KONGMOON CANTON

TOISHAN securities.

Current Accounts opened in Local SWATOW

SHIUCHOW KINGCHOW.. Currency and Fixed Deposits re-

We also handle the issue of ceived for one year or shorter periods in Local and Foreign Cur: Bonds and other Public Funds of rencies on terms which will be the Chinese Government both at

Home nad Abroad. quoted on application.

Bafe Deposit Boxes To Let.

KAN TONG.PO,

Chief Manager.

SHOU J. CHEN,

Manager.

SUMMER CLOTHES Women's, Men's & Children's WANTED URGENTLY

HONGKONG BENEVOLENT SOCIETY

Monday & Thursday

ICE HOUSE STREET

to 12 Noon

of

from London and New In response to better advices received

en- session. Good York the market ruled steady throughout the tions for trade and speculative accounts, the market disregarding the quiries for "actuals" Influenced fair buying interest in forward posi- uncertainties surrounding the quota-decision by the LRR. Commit- tee on the 15th inst.

at quoted rates, After some business having been transacted prices registered a further advance of 1/3 cent for all deliveries on

accounts. persistent additional buying which was thiefly attributed to trade-

Closing tone was very steady

Shipments of Native and Extate Rubber from the Dutch East Irdies during October amounted to 30,495 tons as against 20,528 toris tor, September and 23,631 tons for August, whilst Exporters' Stocks of Native Rubber at the end of October totalled. 12,604 tons as against 15,0000 tons on September 30 and 14,000, toris on August 31, 1938 res- pectively.

feet of development work was at- Imports of silver into the Unit-SPOT

JAN-MARCH complished, of which 1,288 feet was ed States during the week ended. capital development, 410, feet ex-October 21 were valued at $11.883, APRIL-JUNE produced ploration and, 698 feet operating 000 compared with $5,834,000 the

development.

Pesos 365.533.44 during October, from the treatment of 24.803 tons

of ore.

Masbate

Mashate

Consolidated

treated 78.304 tons of ore during October, from which Pesos 424,435 was re- covered.

Benguet Exploration Benguet Exploration recovered Pesos 21,441.96 from, the treatment of 3,254,9 tons of ore in October.

Demonstration ↑ Demonstration Gold Mines Ltd. during produced Pesos 144.365.72 October from

the treatment of 8.002 tons of cre.

Treasure Island Milling operations at the 100- ton plant of the Treasure Island Mining Company on the island of Lahuy are now well under way. officials of the Pan Philippine Cor- poration, managers of the pro- perty, announced last week. Pan Atok Gold Mining Company" re- Philippine is operating Treasure

Island on

a 80-40 profit sharing ported that the October production from the Big Wedge mine was bls. The plant itself is consider- Pesos 140,690.54 from 6.405 tons of ed modern and up-to-date in

every respect. ore treated.

For

Atok

consecutive

Paracale Mining

LONDON RUBBER

Previous close To-day's close

sellers buyers

buyers sellers 8-3/8

Change

K-7/16 8-3/8 8-7/16 unch,

8-7/18

8-1/2 8-7/18 8-9/10

8-1/2 B-5/8 8-1/2 8-5/8

Rubber stocks held in the United Kingdom showed a decrease of 1.354 tons for the week ending November 7, 1939.

previous week.

The main exporting countries.

were

Siam Netherlands Britain

$9,791,000 43,000

451,000

Close

Yugoslavia Canada

3,000

December

39,000

May

Guatemala Honduras Nicaragua Salvador Mexico

- 1,000

July

68,000

December:"

Filgh

57-1/4

Low

WINNIPEG WHEAT

Opening $6 5/8-5/8 56 7/8-3/4 57 1/8-1/4 60-80 1/8 80 1/8-3/8 60 3/8-1/2 61 1/8-1/8 60·3/4-7/8

56-3/4

Closing

Change

1/3 up

3/8 up

3/8 up

2,000

1,000

915,000

Newfoundland

67,000

Argentina

12,000

8,000

7,000

321,000

British Malaya

63,000

Philippines

$1,000

Commenting on the large

Sia-

Bolivia

Chile

Peru

mese imports, the Siamese Lega- tion in Washington stated much Marsman Mines "

Paracale Mining Development Siamese allver coin was being the second

San Francisco, Company started running its mill shipped to month the San Mauricio Muring on November 1. The mill had two proceeds being used to buy gold Company established a new high trial runs, and was found satis- from the United States Treasury. gold output in October, Marsman factory. The management "bas Interests report. San Mauricio tentatively set the formal inau- produced Pesos

440168-51 from guration of the mill for November SURVEY OF WORLD

ECONOMY 9,332 tons of ore treated, again of1 17 or 18. more than "Pusos 60,000 over the September results.

Lepanto Consolidated

means

in

United Parácale also establish- An increase in the value of Le- ed a new monthly high with an panto Consolidated Mining Com- output of Pesos 227,362, a gain of pany's copper ore has been report- about Pesos 2,000 over the pre-ed. In the past few months, the price of copper has advanced from vious record.

The total output for the lour around $.08 per pound to $.114 per

A gain lode and two placer mines under pound. This Marsman management was Pesos value of approximately Pesos 1.40 1,302,605.75, from 68,143 tons of ore for each one per cent of copper in milled and 394,581 cubic yards of the ore. As Lepanto is now mil- gravel dredged.

ling ore assaying around 3 per cent the value of the ore has increased 32,480 371,043.56 from Pesos 9.50 to Pesos 13.80 per

8.627 150,254.39 9,704 227,382.79

Itogon

Suyec Con.

United Parupale

Pesos':

San Mauricio .... 9,332 440,168.51 Coco Grove 345,740* 95.102.50 Mindanao Min. 48.821 18,074.00

Associated Mines

whole

N. Y. Commodity Market

קט 01.

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

Prev. To-day's

LOW Eugh

Close Close Change 8.46 8.37 8.43 8.44 17.01 16.98 16.975 17.055 se up

84 631 641 $4 401 451 45 46 i up 57

561 561 571

NEW YORK COTTON

New York, November 7.

the

New York Cotton Dec. ***

New York Rubber

Chicago Wheat

Dec. Dec.

Chicago Corn Winnipeg Wheat

Dec.

Dec.

World economy as a has so far shown a relatively high degree of resistance to de- pressive influences.

"This encouraging feature is brought out in this year's annual

Prices," issued by the Economic In- volume of "World Production and teligence Service of the League of Ag compared with 1929, it ap pears, world primary production in 1937 was 10 per cent, higher, the evi- improvement being chiefly denced in raw material as opposed

Nations.

December January (1939)

to foodstans. Concurrent increase December in work manufacture was about March

May.. Associated Mines is doing exten-20 per cent.', properties in Catanduanes, sub-international exchange of com- October sive exploration work in ita mining On the other hand decline in the September * yards

was reflected in a de- The Coco Grove production for province of Albay. A vein of cop-modities October was in excess of the esti per ore was reported discovered increase of 3 per cent in the quan-

based ub the low-grade the claims of the company. It istum of world trade. mate ground being worked according to said that this vein may prove to be plan. Both dredges are now ap- very valuable as the percentage of proaching ground of a high value copper in it increased from 5.5 per tenor and an increase in produc-cent to 10 per cent for every 5-foot tion is expected accordingly.

LARGEST STEAM GENERATOR

The largest xteam eléctric generator ordered by, the elec~ trle power and light industry in the United States since 1931 has been ordered. by the Central New York Power Cor poration, a subsidiary of the Niagara-Hudson Power Corpo- ration.

The turbine-generator will be built by the General Electric Com pany and the accompanying steam venerating bofler by the Bat and Wilcox, cung de win be erected at

of Olwero. Kera

pleted plant will dos 600,000

It will be one of the elenit steam electric:

advance...i

TRADE CONTROL

IN YUNNAN

The Futien Bask, a government organization, "has established a

CHINA'S PLANE trade control office in Kunming

FACTORY

16.96b/17.00 18.08b/970

16.97/97

of

17.05b/06a 17.04/05 17.01b/04a

08 up .09

up 08 up

17.00b/07.03 up 17.00b/075 ,02 up

Close

it

Opening Closing

8.43/43

8.44/44 8.39/239

Change

7.01

8.35/35

8.30/30

8.34/38

.01 of

March ( > May July

8.33/33

8.30/29

8.35/37

02 up

() (...)

8.19/19

8.14/14

8.18/18

.01 OE

8.08/08

8.04/04

8.05/05

03 ou

October (..) Spot

7.82/83

7.80/19

7.81/81.

,01 off

8.88 N

8.94 N

06. up

NEW YORK RUBBER

16,97b/99a

16.95 N

16.93/93 16.97 N 16.98 N

Sales for the day!-

2.110 tons

CHICAGO WHEAT-

December

641/64

632/634

May July

657/853 851/651

€54/651

64/631 651/654

651/65

· off:

Saturday's Sales.

8,455,000 bushels,

CHICAGO COEN

4517451

481/401

491/491

197/401

601/501

497/497 51/51

WINNIPEG WHEAT

571/671 nižšom 601/601

57/561

561/561

401/601

50/601

$11/618

6017601

(Yunnan) with a slew to controll- ing importa and exports of ex-

December change,

May Foreign consuls some weeks a0 July The aeroplane factory which the Chinese authorities have establish were Enforded by the Foreign ed with foreign help sunnan Office that trade control would ap- Province will be able to turn out ply only to cotton goods, oli and

December two planes a day, or 60 planes a foreign construction materials, but month, it is learned on good au- in reality it applies to all kinds of

goods entering and learing Yun- May thority.

The factory, it is stated, is con- nan province. structed in the side of a mountain and employs-no-peer than 10,000 ATLANTIC AIR MAIL workmen. These men are under |

e direction of 20 Amentan,

and Czech experts.

NEXT SPRING

London Nov. 96: The Air Ministry announced terday the experimental air [mail:

acrpes the North

be

July

December March

NEW YORK HIDES: (New Contracts)

Oficial

12.82 N

13.20/28

12.806/956 13,18/21913153/54

46,00/00

NEW YORK STRAITS TIN

46.08b/022 48.100/201

42-3/4 4.76-1/2

42-3/4

Rate: 4.76

ខ៩៩