1939-01-26 — Page 11

HONGKONG DAILY PRESS

Finance

and Commerce

TIN MARKET PROSPECTS

IN COMING MONTHS Extraordinary Movements

In 1938 Analysed

In the past year the price of tin has shown" extraordinary movements. After falling back from £181 15s. per ton on De- cember 31, 1937, to £153 5s. on. May 3, 1938, the standard cash quotation has risen by over £60-about 40 per cent.in the past seven months. This sharp rise seems the more remarkable on á - first view because it coincided with a serious setback in the world's tin consumption, states the "Financial News."

Under norTINAL

conditions the

consumption of tin is afected to a

less degree by economic depressions HELP WANTED

than that of the other base metals,

because, as the only non-potsurous FOR COTTON

metal, it is widely used for the

wrapping and preservation of hu-

man food, in the form, of tinplate. INDUSTRY

tin foil and collapsible tubes.

In 1938. however, the trade re- cession coincided with unfavour- able fruit and vegetable crops in "North America. Moreover stocks of inplate in the United States had shown a high level at the be ginning of the year." and inplate operations consequently remained very small throughout 1938.

il

FINANCE

PROBLEMS

OF BRITISH

SHIPPING

GOOD YEAR FOR In the Annual Review Number of

ELECTRICAL

EXPORTS

A prominent feature of the past year has been the strength exhibited by the Bri- tish electrical industry in the export fleld. This was largely due to the industrial develop- ment which has been proceed- ing in some of the overseas

markets.

"The Shipping World" Mr. W. A. Souter, President of the Chamber of Shipping, writes:-

Η

The urgent need for an ex- amination of our shipping position.

"The debates in the House of Commons in July and just recently in the House of Lords show a wel- come appreciation by the Govern- ment of the serious difficulties with which British shipping and ship- building have to contend, and it is satisfactory that the Government welcome the close and comprehen- sive survey of the different sectiona of the industry which has been Actual examples in support of taking place during the last; fow this statement are afforded by the months through the Fact-Finding General Electrie Co., Ltd., of EngCommittees of the Chamber of land, by an extensive contract for Shipping. Liverpool Steam Ship Dower house, boiler house and Owners' Association and the ship- pump house plant for the Karabuk ping Federation Iron and Steel Works, Turkey, and the wide range of equipment in- volved in Lie electrification of the Star Paper Mills, India; also as well as the direction in which by a grair elevator scheme for the we are tending, is revealed by an Argentine, which includes 250 analysis of the shipbuilding figures motors with total capacity of 8,000 in this country for United King- dom and Empire verse owners' h.p.

account for previous comparable TURBO ALTERNATOR Many turbo alternator sets have five-year periods. We End that we been in course of construction at built for account of British owners Witton Engineering Works, Bir-an average of 1,335,482 tons. gross mingham, of particular interest per annum in the period 1910-14, being two of 40.000 kVA output for 1,023,674 tons gross in 1925-30, and

551,244 tona gross in 1933-37. Johannesburg Municipality. IB-

“As the wastage of our tonnage presenting the eighth and ninth

by marine losses, breaking-up, and ordered from, this concern.

Electrical equipments for wind-sales abroad is fairly constant, it It was emphasized that the cot-ing plant are still in demand for seems obvious now that we appear ton Industry urgently needed aldouth Africa, a typical cantract to have commenced a new depres- present depres being for the West Rand Consoli-don, when shipbuilding from pre- sion, which was mainly attribu-dated Co. and including four 1750vious experience will be on a re- com-h.p. Ward-Leonard controlled win-duced scale, and that a further table to foreign subsidized petition and trade barriers in der motors and two 2600 kW motor decline in our tonnage will taka. A large overseas Place in the next few years unless countries desiring generator sets. stituted in their own cotton, industry. scheme is in hand for the Petaling steps are taken to prevent it."

Tin Dredging Co. (F.MS.}} deputation submitted R

TROLLEY BUS ap-memorandum urging that In

Outdoor switchgear equipment the trolley bus in many parts of with barent tin consumption, was only future

agreements 115,300 long tons in the first nine other countries, the cotton indus.has been built on a large scale for the world: during the year equip months of last year. the latest try's Interests be specially safe-overseas, including the Governments were completed for service period for which figures are avall guarded, particularly as regards ment of Madras, Mangahao, (N.Z.) Hobart (Tasmania Perth W. and 'Pretoria South able: This figure represented a the colonies and mandated terr!- Premang Gold Dredging Co., West Australia)

For the last named a decline of 32.400 tons, or 210 per

that Immediate Africa, and the Anglo-Burma Tin Africa).

Co

total of 24 equipments was re- cent., on the year.

financial aid be given for cottón

Increasing use is being made of quired. . and rayon exporters faced with subsidized competition or with goods produced under low wazc conditions.

LOW CONSUMPTION

In recent months. the US. tin- pinte industry has operated at less than 35 per cent, of capacity, while

outside America the average rate has remained below 50 per cent.

In addition to the tinplate Indus- try, the automobile Industry, which Is the second largest tin-consum- ing

trade. suffered from serious depression in 1938.

In these circumstances, it is not surprising that the world's

LONDON Jan. 23 (Reu- ter)-A deputation of Lan- Eashire cotton employers and workers. appealing to the Government for assistance for Lancashire, was received yesterday by the Premier in the presence of Mr. Oliver Stanley. President of the Board of Trade, and Mr. Ernest Brown, Minister of

Labour.

In view of the

The

trade

torles. and also

RESTRICTION SCHEME The sharp rise, in price, despite this serious setback in consump- tion, is attributable to the working of the tin restriction scheme. Since Steps should be taken to ensure the introduction of the tin buffer that textiles exported as part of pool in the middle of last year, a the British quota to the colonies relatively high price range has or countries with which Britain been the express alm of official tin ba's

trade

Britain."

SPECIAL AREA

*

U

DUTCH BANK HELPS GUILDER

first

AMSTERDAM, Jan. 25 (T/Ocean) The Nederlandsche Bank Was agreements, should obliged yesterday for the polley. To achieve the required comply with the formula at time to intervene on the exchange rise in the price. the free market "spun, woven, and finished in market in favour of the guilder. quota under the tin scheme had to be cut down to the lowest level since the end of 1933. Since the middle of last year the quota has been maintained at 35 per cent, of the standard tonnages for cur- rent supplies, plus 10 per cent, for the accumulation of the buffer pool.

It was also urged that the ́ Lan- cashire industrial districts should be treated as a special area to receive Government assistance in- in the establishment of new dustries.

These figures compare with 110 The memorandum denied that per cent. for the free market in the Lancashire industry was out the second half of 1937. Last of date, and claimed that, given year's low quotas have kept the equal conditions, IC could world's tin supply Including the compete with the world in mak- outside supply in the first three ing goods of quality and cheap- quarters of 1938 at 114.800 longness. tons, or 700 tons below the current

Tate of consumption.

FIRST QUARTER CONSUMPTION

The present 35 per cent. quota for the tree market in tin will re- main in operation until the end of

CHUNGKING

SHOPS OPEN

AFTER 3 P.M.

March. Thus, the margin by Signs reading "Business hours which consumption exceeds sup-jafter three o'clock in the after- plica, which was about 7,950 tons noon," are to be seen on many of in the third quarter of 1938, and the shope on the main street. In

may be put at about 10.000 tons Chungking.

for the last quarter, is likely to be

at least 12,000 tons in the first three months this year.

This action has been taken by

shopkeepers as a result of the Japanese bombing of Chungking

So far the bulk of the shortage last week and since the raiders gen-

of supplies has been met from con erally appear over the city between sumers' stocks accumulated at low the hours of nine in the morning prices in the closing months of 1937 and the early months of 1938. and three in the afternoon. These stocks, however, are back to. or are even below, normal. Thus, consumers will be compelled to re- enter the market to an increasing extent.

PROBABLE RISE IN PRICE

A revival of buying, which seems almoet certain this year, whatever happens to international trade. would inevitably involve a recur- rence of the artificial tin market conditions which existed between 1933 and 1935. At any rate, the tin market will be 'dependent on the release of substantial quantities

The death toll of last week's bombing is now reported to be 330, Many of the persons injured in the raid are succumbing to their in- juries in hospitals.—("N, C. D. News'')

SZECHUEN COAL FIELDS TO BE WORKED

CHUNGKING, Jan. 26 (Central) Large-scale exploitation of coal

The dollar rate rose, yesterday morning to 186, whereupon the Nederlandsche Bank began selling This rate is dollars at 185-9/16. accordingly to be regarded as the maximum guilder. rate for the moment. The demand for dollars. continues, however.

of buffer pool tin in the first quar-felds in the Kialing River Valley, ter. Now, as the pool will hardly north of Chungking, will be carried release its tin freely at the current out soon as a result of the amal- price, there is a strong possibility, gamation of the Tentu Coal Min- that the tin price will climb to ing Corporation and, the Chungfu £230 per ton-the upper limit fix-Miring" Corporation, to form the ed by the buffer pool agreement,Tientu Mining Corporation Lic. before the end of March..

NATIONAL INCOME

AND EXPENDITURE LONDON, Jan. 25 (BWB)

EX

Now apparatus is being installed

by the new concern.

Beveral other small mining con- cerns have also been formed.

Ir

chequer returns show that total ture, less self-balancing

ordinary

revenue

tola. amounts

£600,305,417.

against

539 a year

ago. Total

£786,900,541, £590,080. 123,390 at expendi-date in 1938.

the

ite.is.

£699. against

corresponding

No. 25,

ᏚᎬᎢ .

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Always uso Diao Gillette in your Gilletle tator.

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THURSDAY, JANUARY 26, 1939 -PAGE 11

Since taking Kalzana

my

headaches vanished

My NERVES are much STEADIER than they were before"

·B. H. Lu, Cape Town, 3.A.

Kalzana is a remark- able food containing. no drugs whatsoever.

In hot countries one's diet and the extent to which one perspires tend to decrease the mineral contents of the body. Many complaints such as irritability, high blood pressure, dizziness, acidity, which are so often ascribed to "the climate are due largely to this loss of minerals.

+

When you do not feel as well as you should, start taking Kalzana tablets. They will soon put you right.

Kalzana

THE MINERAL FOOD FOR BETTER HEALTH.

Obtainable at all Chemists in tablat and powder form. `

Kaizenz Tablets are sold in bottles of 156 ani, 458. Kalzana le'the mcat

economical of all ca folum preparations.

Mr. Howard Harding

The How

Malden

13.

LAMMERTS' AUCTIONS

PUBLIC AUCTION.

HE Undersigned have received

instructions

THE

to sell by

PUBLIC AUCTION

ON

|FRIDAY, the 27th JANUARY, 1939 Commencing at 2.30 p.m.

At their Sales Room, No. 2 Connaught Road, Central,

Ground Floor,

A QUANTITY OF VALUABLE » HOUSEHOLD FURNITURE

Bedstead,

Comprising:-

Divans, Wardrobes, Dressing Tables, Chests of Draw- ers, Bedroom Tables, Hatstand, Dining Table, Chairs, Sideboards, Dinner Waggon," Chesterfield Sultes, Desks, Typewriter Tables, |Filing and Glass Cabinets, Book- cases. Sewing Machine, Gramo- phones and. Records, Electric Lamps and Heaters, Curios, "Cut lery, Porcelain, Glass, Brass and E..P. Ware, Pictures, Carpets, Rugs, Eider-downs, Blankets, Curtains, Towels, Doylles, Bed Sheets and Covers, Cushions, Carpet Cleaner, Typewriters, Radios. Cooking Stove, etc., etc.

also

A FINE SELECTION OF BLACK- WOOD FURNITURE

Comprising:

Joss Table, Desk, Tespoys, Flow- er and Curto Stands, Armchairs, Oplum Stool, Sideboard, etc., etc.

and

19 Volumes "The Laws of England"

1 Fur Rug

1 Full Size White Polar Bear Skin

Rug.

On VIEW from THURSDAY,

the 26th JANUARY, 1939.

Terms: Cash on Delivery.

LAMMERT BROS.,

ÄUCTIONEERS.

Engraving is the hall mark

of

VISITING CARDS:

If you wish to create a good

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use our cards

of high

Quality.

Mr J. Cartwright.

4. Allerton Road

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In these we Specialise

Samples available

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The Mayfair.

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90. Karth Road,

South Thistels

THA EASTERN ELECTRICAL COMPANY.

BENRANO 2376

FRIC GRAY

PHONE CENTRAL 1785,

GAMERA STUDIES.

Mc Dennis & Spalding,

THE HONGKONG DAILY PRESS

Marina House, 3rd Floor, 15-19, Queen's Road Central.

WYKKET, W.4.