1939-01-07 — Page 12

HONGKONG DAILY PRESS

Finance and Commerce

1938 CUSTOMS REVENUE DROP BY $100,000,000

Statistics Released By Inspector-General

A severe falling off in revenue collected by the Chinese Maritime Customs during 1938 is revealed in statistics released by Sir Frederick The drop, exilmated approxi- Maze, Inspector-General of Custams. mately in Chinese dollars, nearly reached the total of one hundred million. It was pointed eat, in con nection with the loan services. that, subsequent to the seizure of Chinese Maritime Customs estab lishments in the North-eastern provinces in mid-1932. no quota bas been available from these regions.

With the exception of a sum ap- proximating one million dollars re- ceived from the Shanghul Customs. ne quota towards the loan services has been avaliable from many ports in Japanese occupaten since the hostilities,

The Customs Revenue for 1938, composed of Import and Export Duties, Interport. Duty. Tonnage. Dues, Flood Relief Surtax and Revenue Surtax, amounted $254,570,000. approximately... as compared with $342,900,000 for 1937.

The contribution under "edch heading towards this total, as well as the corresponding figures for 1937, are shown below!

Import Duty:

ri

Export Duty:

Interport Duty. Tonnage Dues;

1938

CG.U. 69,970,000 $160,940,000

Flood Rellef Surtax;

On Import

Duty:

$ 16.530.000 $ 55,840,000 $

2,910,000

H. K. STOCK EXCHANGE

Jan. 6.

FINANCE

|LEGISLATIVE

STRUGGLE IN

U.S. SEEN

NEW YORK, Jan. 6 (Reuter)— President Roosevelt. in a special surprise message to Congress yes- terday, urged prompt approval Since the resumption of bust-of the appropriation of $875,000, ness after the New Year holidays 000 to defray expenses of rellet

2,700,000 men up to June 30, The sum will swell the do- Acit for the current

fiscal fa year "to 54,097,000,000, and expected to lead to a legisla. tive struggle with the сод servatives, who assert that

sufficlent

• $500,000,000 Is

for the purpose.

the

been to Stock Exchange has trying out the system of "Board Trading," and although the ex- periment cannot be considered its initial stages other than in

10 "seers the possibilities at- it have advantages taching to The turnover for the shortened week gives the impression that the system has helped to broaden

In his budget message, the Fre-

the market. Prices in some casessident recommended that naval have inclined to harden, though construction funds be increased the heavy priced counters have by $115,000,000 to $270,000,000. lost some ground. Wharves have

Of the total Import Duty Collee-been traded down to $115 bual- The increase provides for the

tion of C.G.U. 69,970,000, 17 per cent, as against 71 per cent. In

1987, was collected in actual fold unit drafts or notes and balance was collected in local currency ac- cording to exchange rates ruling on the date of payment of duty.

The service of the Consolidation Note of the American Wheat and Flour Loan of 1931 and American Cotton and Wheat Loan of 1933 was met in full from the collection at Flood Relief Surtax, at a total cost of $10.122.775.73, of which SC,676,431.40 was provided from balances in hand on January 1,

1633

INTERNAL LOANS SERVICE

A total sum of $129,121,248,50 has been handed over to the National Loans Sinking Fund Ad ministrative Commission for the service of Internal Loans secured On the Customs Revenue. Funds for this purpose were advanced to, the Customs by the Chinese Gov- 8.040.000ernment. Obligations under this heading include (1) the 25th Year Consolidation Loan of $1,460,000, 000 (2) the 25th Year Recovery Loan, of $340,000,000 and (3) the 17th Year Long-term Currency Loan of $45,000,000,

C.G.L

3,500,000

1,140,000

On Export Duty: $

3,490,000 S

8.020.000) $ 1,150.000

1937

Revenue Surtax

On Import

Duty:

C.G.U

On Export-Duty

Import Duty:

Export Duty:

Interport Duty."

Tonnage Dues :

C.G.U.115,780.000

Flood Rellet Surtax;

On Import

'Duty:

$261,290,000 $ 29,070,000

$ 20,150.000 $ -3.220,000

C.G.U. 5,780,000

(=$ 13,040,000 On Export Duty: $ 1.550.000 Revenue Burtax : ·

On Import

Duty:

On Export Duty:

C.G.U. 5,770,000

===$ 13.030,000)

5 1,550.000

NEW ZEALAND LICENSING OF

IMPORTS

WELLINGTON, Jan. 6 Reuter) --Details of further import licen ces issued show no general ban on Japanese goods.

One Importer reports that he has been advised that Licences

NO QUOTAS AVAILABLE

It should be noted that,' subse- quent to the seizure in mid-1932 of the Customs establishments in the North-easter Provinces, no quota has been made available to the Chinese Government from that re- gion including the Customs at Dairen) towards the payment of the various Loan and Indemnity obligations secured on the Customs Revenue, Nor has any loan" quota been received from other regions in Japanese military occupation with the exception of the sum of $1.189,171.65 received from Shanghai Customs in June 1938.

The collections made at the prin- cipal revenue-producting ports during the year 1938, and the res- pective increases or decreases when compared with the collections for 1037, are as follows:-

Port"

thei

Collection

1938

$

4,540,000

(including Pelping Office)

·56,440,000

Chinwangtao Tientsin

will not be issued for Japanese Chefoo cotton goods. English blankets or including Lungkow German rubber sheeting...... Plain and Welhalwel)

cotton place goods. from the Tsingtao

United Kingdom are not greatly Hanków affected in his case, but orders Shanghai from Japan have been cut to Focchow about one-third.

Amoy Applications for import of art Swatow silk from Britain and Japan have Canton each been cut to about one-third. Kowloon

A motor firm reports that tm-Wuchow ports of tyres, from Britain are Mengtsz being allowed the same quantity

as the first half nf last year. 1. whereas American and

Canadian

tyres are cut by 50 per cent.

Chirwangtao

One licence allows the same Tientsin (includ-

Chefoo (includ-

4,020,000

8,870,000

8,210,000

84.310,000 5,410,000

.,2.670,000

9,630,000

19,550.000

13.840,000

two battle-

ness done and HK Bank have start in building of

gain sagged to business as low as 81425 following a further drop of £2. in the London quotations. Closing tone quiet but steady.

ships in 1940 and expanding the

BUSINESS DONE DURING WEEK Hongkong Bank, 31425, $1440, $1455, 81475. 31495, $1482). $1435 $1425.

Union

$475, Insurance. $478, 8475,

'Wharves, $116, $115.

Docks (Old).

18).

of

be

naval air force by 93 planes towards the authorised goal 3,000. Naval personnel will Increased by 5.500 to 113.000,-

MANY WAIVE $490. CHINESE LIBERTY

BOND INTEREST

The majority of the holders of

Docks (New), $17.80, $171, $17.60. the $500,000,000 worth of Chinese

$171.

Providents (Old), $8.40. Hotels, 36.90, $7. $7.05. Lards. $38.85, 837. Tramways, $17.45. $17.60. China "Lights (C. Rts.),

$9.70,

China Lights (Ris.), 83.70, 83.60.

$31, $3.80.

Electrics, 258. 8581. 58.30... Telephones (Old). 8234. Cements, $161, $154. $16.60, $182. Watsons, $8, 28.05.

. Lane, Crawfords, $3.

Entertainmtnt, $7.10, 87. CLOSING QUOTATIONS 3.30 p.m. Buyers

Hongkong Bank, $1415. Union Insurance, $4721. H.K. Wharves, $115.

H. K. Docks, (Old), $184. Docks (New)," $17.80." Providents (Old), 86.30. Providents (New), $6.10. Hotels, $7.05.

HK. Lands. $37. Humphreys, $81. Realties, 85.35.

HK Tramways, 317į. Yaumati Ferries (Old), #224. China Lights (C. Rt.), Wi.. Electrics, $58,

Cements, $18.80. HK Ropes, $3.95. Dairy Farms, $24.10. Watsons, #8.05.

Entertainments, $7.

Govt. 4 per cent. Loan, 8 per cent.

· PITI. Govt. 34 per cent. Loan. Par. Sellers

H.K. Bank, $1430.

Union, 84771.

Underwriters, 70 cts.

H. K Wharf $117).............

Providents (Old), $8.40.

Hotels, $7.10.

Lands. $374.

Tramways, $17.70

China Lights (C. Rta), $9.70.

China Lights (Rts.), $3.70..

Electrics. $58)...

."

Telehones (Old), $24. Constructions, 812. Marsmans (HK) 3/-

Sales HK. Banks, 81435/25, Union Insurance, 8475. HK Wharf. $115

Providents (Old), $6.40,

Hotels $1.05.

Tramways, 817.60.

China Lights (C. Rts.), $9.70.

China Lights (Rta.), 3.60.

Telephones (Old), $23.

Cements, $182.

Watsons, $8.05.

Lane, Crawfords, 87).

Entertainmentă, $7.

HONGKONG SHAREBROKERS'

4,410,000

4,420,000

Increase Decrease

(Against 1937)

$ 2.930,000

$

number of British Cura

ав the

frst half of last year.

Ing Peiping Office)

· 23,050,000

STATEMENT WANTED

Importers continue to urge

for

ing Lungkow and Welhalwet) 280,000.

a drank statement of the New & Welhafwel) Zealand Government's import Tsingtao licencing policy, saying that until Hankow this is given they are unable to Shanghai.. plan for the future

280,000

15,440,000

17,610.000 57,190,000

Foochow

Amoy

Swatow

Canton

1,810.00.

690,000 6,700,000

2,630,000

Lights C.R., $01.

Lights Rts.. $3.

2,840,000

BROADWAY MANSIONS Kowloon SALE FALLS THROUGH Wuchow

Mengtsz

ASSOCIATION

Hotels, $7.

Buyers

Realtys, $5.35.

Star Ferries, $72.

Yaumati Ferries (Old); $221.

Yaumati Ferries (New), $22.

Entertainments, $7. Constructions. 31.

Sales

Hongkong Docks, $181. Hotels, $7.05..

Trams, $17.60. Lights Rta., 53.55. Electrics, $58.30,

WORK RESUMES

1,100,000 1,420,000 The "North-China." Dally. News" states that rumours éirculating tỏ FOREIGN LOANS SERVICE the effect that Broadway Mansions,

The service (1) of the Anglo- apartment block in Hongkew which German Loan of 1898, (2) of the figured largely in the Shanghai Boxer "Indemnity obligations and hostilities in 1937, had been sold (a) of the 1913 Reorganization. by the Shanghai Land Investment | Loan has been, provided for in full Co, to Japanese interests are in- during the year at a total cost of

IN JAMAICA

correct.

$77,958,675.98, as compared with KINGSTON. JAMAICA, Jan. 8 Negotiations for the sale 'werd } $76,911,283.16 expended on the Reuter) Work is proceeding made on a basis of $5,500,000 cash, same account during 1837. Of this normally on the waterfront as a or $3,000,000 in cash and the re- amount of $77,258,875.98, the sum result of the appointment of an mainder on extended terms over a of $77,289,407.68 was provided for arbitration" board. period, it is stated. The deal, from the Customs Revenue and the however, dia not mattire and it is sum of $689,268,30 advanced by the believed to have falleri through, Chinese Government.

A steamer which put to sea was recalled by wireless, and is now discharging cargo in the harbour.

Government Liberty Bonds are sald to be willing to donate the in- terest dues them to the Chinese Government.

A sum of $20,000,000, represent- ing the first amount to be paid in interest on the bonds, falling due in August last. is being paid by the government Or this amount. about $15,000,000 has remained un- claimed up till the present and " | is now suggested among the bond- holders that all interest mency re- maining unclaimed "after April. 1939. be given to the government.

"NIKS"

SATURDAY, JANUARY 7, 1939.—PAGE 11

KIRIN

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THE

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to sell by

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ON

TUESDAY, the 18th JANUARY,

1939.

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Comprising:---

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also

A FEW PIECES OF BLACKWOOD

FURNITURE

On VIEW from MONDAY. the 9th JANUARY, 1939.

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