1938-12-21 — Page 11

HONG KONG DAILY PRESS

Finance and Commerce

FURTHER CREDITS TO

CHINA POSSIBLE Currency To Receive Support If Necessary

יז

London, December 20. Newspapers generally give considerable prominence to Britain's decision to extend credits to China, Reuter understands that the pre- liminary amount will definitely be €500.000, which will be available immediately, without waiting for the passage of the Export Credits Extension Bill, which will not be completed before February. The pre- minary amount, is in no way expected to be the limit of the credits to be placed at China's disposal.

RESTRICTIONS ON TRADE

Many Questions In Commons

London, Dec. 20. "Most of the answers Mr. Butler. Under-Secretary Foreign Affairs, to question China were made yesterday the omnibus principle.

FINANCE

H. K. STOCK

EXCHANGE

niec, 20, There seem to be more enquiries

URGES LOWER but business remains on a smail

SUEZ DUES

Canal's Immense Profits

London, Dec. 20.

In the course of the debate in the Ilouse of Commons yes- terday. Sir Arnold Wilson advocated a substantial reduc tion in Suez Canal dues,

In the past three years, he said. dividends had averaged 50 per | cent, which was a lot fo: a public The Egyptian utility company. Government, to which the Canal

years and which

There is no question, at the pre-reverts in 20 sent, of a loan to support China's comes prominently into the pic: currency, as reported in some pa ture, should take steps to put the pers. For the moment China's canal on the same basis as the favourable trade balance appears Panama Canal, he said.

to be a suficient support. but Although the Panama Canal cost the necessity arises, threatening "a"jihres times as much as Suez and slump in the dollar, the possibility costs twice as much to run, the of China being granted straight dues at Panama are 10 to 15 per financial help is certainly on the cent lower than Suez. cards.

China's determination to develop R.A. the untapped rescurces of the for west and south-west, and to con- onvert these regions to a flourish oning area, is evidenced by the re- cent opening of branches of the Bank of China at Hanol. Haiphong. Rangoon and Batavia,

Replying to Commander Marsden and Captain Alan 'Graham, who asked whether

the government Was aware that. Japanese merchant ship- ping was plying freely on the Yangtze, and that no Jap- yot anese cargo vessels" had met with misfortune owing to drifting mines. alleged by the Japanese as the objection to reopening the river to Bri- tish shipping. Mr. Butler said that advertisements notices of sailings appeared in the Chinese language papers in Shanghai, provid- ing evidence that Japanese" steamers were trading on the Yangtze.

and

The Japanese Minister for Foreign Affairs, had now· under- taken to give further considera- tion to the matter in the light

of fresh evidence, which the Bri- tish Ambassador, Sir Robert Crai-,

gle had put before him.

MONOPOLY COMPANY.

This also indientes a resolve to attack Japan's trade in the South Seas, where already the anti-

Sir Arnold Wilson, urged that a solemn appeal be made to the Egyptian Government to consider its International position 25 trustees of a highway between Europe and Asia, adding that dues could be reduced by nearly half and six to

could eight per cent. still be paid on the capital-Ren- ter

1

scale and prices unchanged.

Buyers

!

Hongkong Bank, $1330, Canton Insurance, $205.

Douglases, $81.

H.K. &. K. Wharves, $115. FLK. Docks (Old), $18. H.K. Docks (New), $173. Providenta (Old),"' $4.30. Providents (New), $6.05 H. & S. Hotels, $61. H.K. Lands, $351. HK. Realties, $5, - HK. Tramways, $17. Sandakan Lights, $101. Telephones (Old), $33, Watsons, $7.45.

Entertainments, $8.45.

H.K. Goyt., 4 per cent Loan, 8

per cent pm.

HK Govt. 34 per cent Loan,

par.

Sellers

Hongkong Bank, 31340. Canton Insurance, $210,

China Underwriters, 70 cts. HK. & K. Wharves, $117.50 Humphreys, $9.

"Yaumati Ferries (Old), $22)

Telephones (Old), $23,35. Dairy Farms. $24.60. Lane. Crawfords, $8. Constructions, $14.

Salės

Hongkong Bank. $1330/37). H. & S., Hotels. $6.80, HK. Lands, $35.

(Prices below in Phil. Currency)

Antamoks, 491

Japanese boycott is reported to be KWANGTUNG SALT Atoks, 23)

more effective than anywhere,

Apart from the development of motor-low y transport on the Burma-Yunnan road, the Chinese are, anxious to induce the Burma Government to

complete the

INTERFERENCE

PROHIBITED

Chungking. Dec. 20.

the

Acting on a petition from

military

Burma rallway from Katha, the Ministry of Finance, the Chinese present rail-head. 100 miles west High Command has issued a cir of the Yunnan border. The Chin-cular order to the Kwangtung ese stress the commercial advan-

authorities prohibiting them from interfering with the tage for Burma by linking up to

salt udministration and tax col- the Chinese railways in west

lections. Chiria.Reuter.

GOLDEN BULLETS

Berlin, Dec. 20. "Game with golden bullets" is the heading in a Nazi paper on the message regarding the British Government's intention to grant China credits.

T

The action was taken 43 B sequel to the reported detention of several boatloads of salt by the headquarters of the 5th Guerilla Area in south Kwang- tung recently, Salt transporta- tion and distribution is under the control of the Kwangtung

All the newspapers display great Salt Administration, which is a interest in the report,

The "Frankfurter Zeitung" says

Mi Greech Jones asked whe-It will be most, important for the ther the newly-formed Yangtze progress of the war whether these Shipping Company was likely to credits are only on isolated mea- exercise a monopoly, and whe- ther the Government proposed to take action to maintain British interests.

sure or represent the beginning of more energetic help for China.

sub-department of the Ministry

of Finance-Central News

BANK OF SPAIN'S ASSETS

Burgos, Dec. 20.

If the loan goes further and the Anglo-Saxons take over financing The controversy caused by the

Mr. Butler replied that the Br of Gen. Chiang Kai-shek and sup-rsspective claims of the Nation-

tish Consul had promised to furnish full particulars as as possible.

ply him with war material, then alists

and

and the Republicans to the Japanese General Staff will ownership of gold reserves soon and Itself presented with a new other assets abroad held by the

situation. Reuter,

Bank of Spain was further dealt with at a meeting of shareholders of the Bank in Santander on Sun-, day.

DR. KUNG REPORTS

Chungking. Dec. 20, China's negetlations with Great Britain and the United States to: It was pointed out in the course credits were reported by Dr. HH of the meeting that the Bank of Kung, Presidens of the Executive Spain was not a State bank but Yuan and concurrently Minister of a joint, stock undertaking, and

and Finance, at the weekly memorial that shares represented at the

held service.

the Central meeting, which voted in favour of Kuomintang Headquarters yester- the Nationalists, were far in excess day morning.

of the minimum called for under Detalls have not been divulged, the regulations of the Institution. Central News.

-Transocean.

JOINT PROTEST

Answering Sir John

Ward- law-Milne Mr. Butler stated that the Foreign Secretary had recently received a report on the joint statement issued by the British, French American Chambers of Com- merce and the national associations of eight countries represented in Shanghai, com- plaining of Japanese restric- tions on foreign trade.

Sir John Wardlaw-Milne. "Isn't this the arst time that all the trade associations representing the various countries have joined together in a note to protest at the position of the trade of foreigners in Shanghai?"

Mr. Butler: "I believe "that is 30.Reuter.

SILVER MARKETS

nt

IP

Japanese Flour Mills In North China Hard Hit By Cheap American Wheat

Tientsin, December 20.

Japanese four merchants aro conducting strong agitation against American competitors, who are accused of dumping. “in North China. American wheat, is replacing Japanese, and' Aus- tralian products, and as

result flour prices, are Though favoured by a tariff · and sold cheaper

1

flour, Australian imports are the United States

dropping. than Japanese unable to compete with those from

LONDON SILVER

London, Dec. 19. Silver- Speculators bought. Offerings small. Market steady. In "the afternoon, the market was

quietly steady for "cash" and dül-¡ lish for "forward." with sellers ating exportation of flour abroad the fixed rate.

Spot

Forward

20-1/8d. 19-9/160.

-Reuter.

NEW YORK SILVER

New York, Dec. 19,

Official Price, 42-3/4-Reuter,

BOMBAY SILVER

Bombay, Dec. 13.

Market-Quiet. Oftake 25 bars.

Indian Mint Silver

Ready............. 51-00

The United States is encourag-

PETITIONS FILED To counteract American

com-

to the amount of 100,000,000 petition, the Japanese Flour bushels, subsidizing exporters to Gulla in Tientsin has filed s ̈petl- the extent of 63 centa £ sack. tion with the Japanese authori- This is inducing traders to dump ties to check the indiscriminate their four in North China. where importation of foreign flour by it is duty free

establishing a monthly import

American import contracts since limit. the middle of October involve ap-

at a cost of Yen 3.85 a sack.

8

The guild has - also

petitioned

proximately 53,000 sacks of flour the authorities to lift the em This situation is a severe blowbargo on the exportation of North

China flour,, so that it may

"Manchukuo."-Inter-

national

to flour millers in North China shipped to 51-01 most of when are Japanese, and Jan. 16 Settlement... 50-14 50-15 many of whom have had to sus Feb. 14 Settlement. 50-12 50-13|pend operations. These milers -Reuter. own approximately 500.000 plcuis

...

Unofcial Quotations

Bombay, Dec. 20.

be

of wheat in Tientsin. but they The Woolwich ferry steamer cannot compete with low foreign Squires, 625 tons, owned by the 51-03 prices. Thus, with the exception LC.C.. was involved in a collision 51401 of only one or two mills in the with an outward bound steamer, 50-15 entire aren, all four plants have and after discharging passengers, been forced to suspend operations was taken out of service for in- -Reuter. temporarily.

spection.

Ready ...... January 16 Settlement.. February 14 Settlement..

Market. Quiet but steady.

Bagulo Gold, 23

Benguet Consol., 12.60 Cocu Grove, .50

Consolidated Mines, 0035

Paracale Gumaus, 13 San Mauricio. 1.74

Suyoc Consol., 19). United Paracales. 57

"NIKS"

A Guzarysed Cure

ÍMABEZ

For Hong Kong Foot,

WEDNESDAY, DECEMBER 21, 1938.-PAGE 11

LAMMERTS' AUCTIONS

|PUBLIC AUCTION.

KAIPING COAL

FOR HOME, FACTORY, & POWER HOUSE

HOME, FACTORY AND BUNKERS

POWER

ALUSE,

TUGS & LOCOS.

THE KAILAN MINING ADMINISTRATION®

DODWELL & 00., LTD., Agents, Hong Kong.

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Could ye lend me 10s. ?"

appearance....

"I could nn' dae that, Sandy.

Thank ye,

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WHITE HORSE

Sole Agerits:

WHISKY

SCHMIDT & CO., LTD.

MASS INCORPORATED IN CHINA MÍSTE

YORK BLDG.- ·HATER RD. - HONGKONG

THE

THE Undersigned have received

instructions

TO SELL BY

PUBLIC AUCTION

ON

"WEDNESDAY.

the 21st DECEMBER, 1938.

Commencing at 2.30 pm.

At their Bales Room, No. 35,

Hankow, Road, Kowloon.

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE

Comprising:—

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also

A FEW PIECES OF BLACKWOOD FURNITURE

On VIEW from TUESDAY, the 20th DECEMBER, 1938.

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LAMMERT BROS..

AUCTIONEERA.

PUBLIC AUCTION.

THE Undersigned have received

instructions

to sell by

PUBLIC AUCTION

on

THURSDAY, 'the 22nd DECEMBER.

1938.

Commenting at 2.30 p.m.

At their Bales Room,

No, 2, Connaught Road, Central (Room No. 205, 2nd Floor),

¡A QUANTITY OF SILK EMBROIDERIES,

LACES AND LINEN

Leica Leit

Maintaining Also-

SPECIALIST

LEICA SERVICE

FOR DEVELOPING, ENLARGING, ETC.

KXPERT

AT

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ATTENTION IS QIVEN.

On VIEW from WEDNESDAY, the 21st DECEMBER, 1938.

Terms: Cash on Delivery.

LAMMERT BROS.,

AUCTIONEERS.

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YOU!

لو

THE

CHINA

JOURNAL

PRICE

$150

available at all bookstores

OCTOBER

THE MAGIC OF THE WINE CHINESE GUERRILLAS: +

CHINESE GUERRILLAS OF THE PAST

GUERRILLAS 'TO-DAY ..

MASS EDUCATIONTM MOYEMMENT OF HONAN PROVINCE

INTRIGUES ON THE ROOF OF

THE WORLD

SOME OBSERVATIONS ON THE WINTER BIRDS OF FEI HAY PARK, PEKING

CHINA'S ECONOMY AND FINANCE · WAR ORPHANS IN CHUNG-KING

PUBLIC AUCTION.

THE Undersigned have received

instructions

to sell by

PUBLIC AUCTION.

'on

FRIDAY, the 23rd DECEMBER, 1938.

Commencing at 2.30 p.m.

At their Bales Room, No. 85, Hankow Road, Kowloon:

A QUANTITY OF TOYS AND XMAS CRACKERS

TERMS: Cash on Delivery,

L'AMMERT BROS.. AUCTIONEERS..