1939-01-16 — Page 11

HONG KONG DAILY PRESS

Finance and Commerce

GENERAL

CUSTOMS DEBT SERVICE

CHUNGKING RAILWAYS SHARE MARKET Tokyo Agreement

OBLIGATIONS

MEET

loan

the

REVIEW

Not In Force

The figure compares with $342. 809.739 for 1937 and $324,833,201 Bo far as bondholders for 1936. are concerned, however, satisfac- tlon will be considerably modified by Sir Frederick Maze's statement

The announcement, conveyed in BY C. A. L. RICKETT

a telegram from the Inspector- CHUNGKING, Jan. 14 Central July. The Pien-Lo-the section of

Secretary, Hongkong

General of Customs to the Chi- During the ten months between the Lunghat Railway between Kal- Sharebrokers' Association

nese Ambassador in London, that March and December 1938. the teng and Loyang-loan was paid

Throughout the entire week the Chinese Customs revenue for 1938 Chinese Government paid £258, 583.988.75 francs last July. The market has been dull and tea- amounted to $254,570,000 is, on the 706/11/8, 2,781,747.15 Belgian franca Canton-Hankow

Was paid turcless... Practically all listed face of it, satisfactory, for it con- 631,234.15 forins 420,002.5 French| 212.744/3/2 pounds last June, and stocks have been obtainable at firms the impression that Chinese and $834.000, Chinese currency, to the Ning-Hsiang loan was paid quoted prices: Prices, however, have trade has resisted the effects of various foreign creditors of Chinese $36.000 last April and July..

been inclined to ease although war with considerable success. national railway remarkable For railway material loans, the holders of shares have displayed says "The Times." achievement.tg a country at war with 8.658 kilometres of its rail-Pelping-Hankow material loan was no undue anxiety to sell. Trading ways under Japanese occupation paid £4750 and $500,000 in the has been of a very desultory nature and only 3.200 kilometres of lines arst five months of 1938. The and the volume of business re- Tientsin-Puków material loan was corded for the week has been remaining in Chinese custody.

first four almost negligible. The undertone In accordance with the policy of paid $212,000 in

However, the at the close of business is rather the Chinese authorities to meet months of the year. every railway debt obligation in payment was discontinued since easier.

that no quota towards payment of last May when the entire Tientsin- H.K. Bank shares, following the the

the loan and indemnity service accordance with

respective

Pukow line was occupied by the London price, changed hands down contracts until an entire line is

has been received from any of the completely under Japanese control. Japanese. The Lung-Hal material to $1400. (cum div.), Business was

regions under Japanese control the Anglo-German Tientsin-Pukow loan was paid $10.000 in the first reported in Unions at $475. Lands with the exception of a single re

year. The could be obtained at $37. HKmittance from the Shanghai Cus- Lean was paid £51.234/014 last five months of last April and May, the line having fal. Lung-Hal western section material | Docks 101 after changing hands atoms in June. len. Into Japanese hands during toan was paid £84,000 in four in- $18 receded to $181. Watsons were

Though the service of all debts the latter months. The Lung-Hai stalments in the year 1928, that effering at $8.05 with sales repor-

this Dgure. Hotels were secured on the Customs was pald loun was paid £85.078/8/2; 2.761. section of the line being entirely tea at 747.15 Belgian francs 631.934. under Chinese control though öne jottering at $7. Tiams remained in full there was. It now appears. a deficiency on the debt service, 15 florins 426,062,5 French part suffered, intermittent shelling steady. at $17.60.

which the Chinese Government franes: 17,05078 Chinese dollars from the Japanese across the Yel-

made good out of its straitened and an allowance of "$8.000 last w River from Tungkwan..

SUGAR COUNCIL |FIRM ATTITUDE

DECISIONS

No Change In Quotas

LONDON, Jan. 15 (Reuter)-e

It was decided at the meeting. of the International Sugar Council which concluded "yes- terday that there" will be no change in the existing quotas for the period ending August 31, 1939.

The Council came to the con- Clusion that the requirements of a free market, owing particularly to large shortage in crops in the United Kingdom and other coun- tries, were likely to exceed 3.150,000 metrie tons by 44. substantial amount

ון

The Counell decided, however, that as there are still several un- certain factors, it could not now make a revised estimate of free market requirements, and there-

tore no change has been made in

the existing quotus,

It was agreed that adjustments

H.K. Binks have anticunced a Anal, dividend of £3. making a (total of £5:10 for the year 1938.

The Manila market, effected by i outside Influences.. has been..

resulting in a small bit

TOWARDS JAPAN general recession in prices. Demon-

ADVOCATED

1.

LONDON, Jan. 15 (Reuter)— General Sir Hubert Gough; in a letter to the "Financial News," declares that the position. In China threatens with rulh all British trade in the Far East and vast interests in the Em- Dirc

strations have, perhaps, been the heaviest losers, dropping back from 9 to 231 ctvs. San Mauricio.re- ceded 12 ctvs to Ps. 1.76. United Paracale closed at 66 ctvs a loss of 5 ctvs, Atoks, on the other hand, Improved from 30 to 35 ctivi. Market closed quiet..

With reference to gold mining stocks it is interesting to note that by 15 gold mining firms Pa. 21,965,

ng the year 1938.

It is indeed time that the Gov-554 was paid out in dividends dur- ernment resolutely dealt with these dangers, he says...

The loss of the huge sum in vested in China will materially re dueg national income, seriously in- crease the unemployment problem and make the taxation bunder: still

heavier.

WORLD WHEAT

PARLEY

resources.

B

WHAT HAS RECOME OF AGREEMENT:

What, it may be asked, has become of the provisional agreement negotiated as re- cently as last May between the British Ambassador in Tokyo, representing the International bondholders, and the Japanese authorities, whereby the latter undertook to remit regularly to the Inspector-General the quolas due from the ports un-' der their control?

The answer. It now. transpires is that the agreement never actually came into force. Disposing as it did of funds nominally belonging to China, it could not enter into force without the concurrence of the Chinese Government, and that concurrence has never been given. In consequence, the agreement re- mains a dead letter. LONDON, Jan. 15 (Reuter)-The The Chinese Government, how- recommendation to convene an in-ever, with a proper regard for its ternational

for the credit, has so far found means to purpose of framing an effective defray the loan service pending

the funds wheat control scheme is the prin- the time when "Diplomat "notes of protest produce no effect on the Japanese ciple recommendation of the re- presumed to be accumulating in and it is necessary that our Gov-port adopted at the Anal session the Yokohama Specie Bank can enment adopt a more resolute at of the meeting of the International be made available for this pur

"Greatly as we deplore strong measures, there is no limit beyond which the Government cannot g having regard tp our interests and security." he states.

titude.

would have to be made in the

"Beyond the loss of trade lies the quotas for the year ending August

of all our 31. 1940 f order to make them Erospect of the luss

possessions in Asta and the Pact- balance probable requirements, and it was resolved again to makec. including India, and the secur- the necessary adjustments in amy of Australia is threatened, but ple time before the beginning of all the cards are not in the hands the year concerned,

In regard to the statistical post-

tion for the year ended August 31,

of the and-Comintern Pact.”

1928. It was found that require BRITISH TRADE

ments of free market exceeded ex- parts to that market by 77,000 metric tons

MOTOR NOTES FROM GREAT BRITAIN

From a

DECLINE

LONDON, Jan, 15 (Reuter)-- British overseas trade in 1938 showed an all round reduction

compared with the previous

year.

According to the Board of Trade, imports of merchandise for the London Correspondent car totalled £920,050,000 com- The British motor industry con-pared with £1,028.000.000 in 1937. Runes annually a million tons of while exports of United Kingdom steel, 11,000 miles of cloth. 5.500 goods amounted to

compared with 521,000,000. tons of glass and 2.010.000 gallons of paint.

£471,000,000

It is noteworthy that the decline in imports is twice as large as the reduction in experts, thus effecting the substantial reduction in country's adverse trade balance..

a

Two personalities well known in the motor industry. Sir George Beharrell, chairman of the Dunlop Co.: and 'Mr. Peter Ben- nett. of Joseph Lucas Ltd., are members of the advisory panel in the forthcoming motorcycle formed to speed up rearmament. reliability season. One of the

team, Len Heath, began the miles of so well by winning the its streets has been decided upon Trial. by the London Borough of Lewis- ham.. The General Electric Co. Lt. of England, will provide over 6.000 new lighting units,

4

+

•

New lighting for 153

SEA- Scott

At the luncheon given to Major A.T. Gardner to celebrate his 186 m.p.h. with the 1,100 cc. M.G..

a repilca of the car in ice formed

There were many frozen radia- the centre plece of the table. tor and cracked cylinder blocks

during the recent cold spell In British trolley buses of AEC.- Britain. The Ford Co.' alone, in English Electric manufacture one day, dispatched over 100 cylin-are to operate at Odense, the der heads to deplers in various Grat provincial town' in Denmark narts of the country.

o employ this form of transport.

*

The new Rolls Royce "Peregrine" aero engine, although of similar capacity to the 800 h.p "Kes- trei," "yields. 800 h.p.. and weight is only 1.100 lb.

It is the birthplace of Hans An- derson,

•

The old established coachbuild- itslag frm of Barkers has been taken over by Hoopers, In con- junction with Mr. Alan P. Good. of Lagondas. Hoopers received their first. Royal Warrant from Queen Adelalde, in 1830.

November saw all production 35-year-old his-

records in the

tory of the Standard Co. broken. The

Coventry factory" actually doubled the output figure of the previous November.

A very strong team of riders will again represent the Arlet Co..

•

The challenge cup for the best solo performance In the British Expert's Motor Cycle Trial was won by Alinn Jefferies riding a Triumph 500 cc. mode),

conference

Wheat Committee.

поле

Once weak

and miserable

"NOW

full of Energy and Cheer"

"As for Sanatogen, it can never be beaten, it is just like drinking magic, and those who have had a nervous breakdown, lika myself, please tell them to try Sanatogen. I can eat: sleep and enjoy life now. It is life, and life is wonderful when there is health, and there is health in every bottle of Sanatogen;"

writes an enthusiastic Sanatogen user,

Take a course of Sanatogen and enjoy Youth and Health again. Headache, nervousness, anaemia, and fatigue after a full day's work will soon disappear, for Sanategen gives your. body and nerves the strength they need. SANATOGEN strengthens and soothes the nerves and revitalises the blood. Buy a boule You will soon enjoy work and leisure and not only feel young but kuuld

-young too

at -onc

J

SANATOGEN

The True Tonic Food

Obtainable at all Chemists

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MONDAY, JANUARY 16, 1939.-PAGE 11

Gillette reduces your

Blue

LAMMERTS' AUCTIONS

shaving costs PUBLIC AUCTION.

THE

HE Undersigned have received

Instructions

to sell by

PUBLIC AUCTION

don't be

Insist an Gillette persuaded to buy inferior blades on the grounds that they are cheaper. They may be lower in price, but they are not economical ir use. The best way to reduce your shav ing costs is to buy Blue Gillette blades and a Gillette razor. They

11

Et each other exactly, because they are designed as a unit; and they combine as a team to give the "maximum, number of perfect shaves

with every blade.

Gillette

BLADE

Gillette Blades

Yes! I find they

are so wonderfully

cool and kind to

my throat.

H3

אח

THURSDAY. the 19th JANUARY, 1939.

Commencing at 10.30 a.m.

At their Sales" Room. No. 2 Connaught Road, Central (Room No. 205, 2nd Floor

■

Fur Coats. Fur Capes, Pur Mutis, Tweed Coats, Leather Bags, Imita- ten Jewellery, Silver and Crystal Ware, Perfumeries and Novelties.

On VIEW from WEDNESDAY, the 18th JANUARY, 1939,

Terms: Cash on Delivery.

LAMMERT BROS.,

AUCTIONEERS.

What do

you want?"

If there is anything

you want

well,

buy

10

ber

Chanciled advertisanne

25 words $1.00 prepaid

for 3 insertions.'

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CIGARETTES

TO PREVENT SORE Carteras Ltd,—150 years-Repulsijon, for, quality.

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THROATS