HONG KONG DAILY PRESS
Finance and Commerce
Jewish
Plight Of 1,800
Emigres In Shanghai
Sir Victor Sassoon Gives
Sum Of $150,000
MEDICINE FACTORY ESTABLISHED
AND PRODUCING ASPIRIN
(FROM OUR OWN SHANGHAI JAN. in local clubs is the
in Shanghai. The
CORRESPONDENT)
22.The leading subject of discussion plight of the 1,800 Jewish emigres now group of 284 arrived last Sunday: Siberia. Almost all of these people under Hongkew and Wayside-areas large number, particularly family
in
40 of these travelling via
quartered are being Japanese control. A Kroup, are living perty.
41
In Embankment Building—a Sassoon pro-
im-
TRADE VISIT TO CHINA
Japanese Party Tour South
TOKYO. (By Mail, Reuter) -Considerable attention has been attracted here. in In- terested Anancial anŤ cum- mercial circles. to the tour
of South China by a party of Japanese experts representing sugar, mining.. electric-power and shipping interests.
on
The party, under the leader. ship of Viscount Kyoshiro Inouye, President of the South Asia Survey Institute of Japan. arrived In Canton January. 25. fram Formosa. After making a thorough in- vestigation on the spot, the party will return to Tokyo to report to Funds of the reliet committee created a notably favourable
the Government so that the lat- in charge of these emigres are pression on the community. #
ter may be able to formulate a according to already exhausted,
Japanese." "The
one refugee basic policy for the economic deve- short declared, "have in no way discri-lopment of South China," says the mem-minated against us. We are obey-Japan Times." big aling the laws and regulations und is they are treating with the problem for the conscience of the same courtesy as they show to
man any other foreigners." world," another committee stated.
an announcement made a while ago by a committee ber. The problem is too one fór Shanghai,
Sir Victor Sassoon's donation of $150,000, which is specifically reserved for rehabilitation Dur poses, has
been received with joy among the refugees.
RUSSIAN PROTEST
Anally
SUGAR INDUSTRY
In this connection, it is disclosed that the Japanese military au- thorities on the spot, and com- petent Japanese officials attach
FINANCE
CAPITAL FLOW INTO THE UNITED STATES
Debtor Countries*
Investments
Out of a recorded inflow into the United States of short-term capital amounting to $1,685.000.000 during the three years 1935-37 about a third was accounted for by debtar areas-Canada, Latin America, Germany and the Far East...
This is shown in the 1937 issue of the annual volume on "Balances of Payments" recently published by the Economic Intelligence Service. of the League of Nations. The re- view analyses the International payments of 33 countries in recent
years.
It is estimated that since 1931 the debtor countries have had a large active balance in the case of current trade items that is, trans- actions in goods and services, plas newly produced gold exported), ag- gregating for the period 1931-37 some $5.000 millions (at the old gold parity of the dollar), which has thus been available for reduction of their foreign debt,
SHORT-TERM CAPITAL
of this amount it is estimated that the liquidation of United States Investments hardly required more than $1,000 millions (old). What use these countries made of the remaining sum is to be found
chiefly in the movement of short-
terni capital and gold.
A certain inarticulate protest Lgreat importance to the develop- over the influx of these European ment of the sugar industry in refugees, nevertheless, has been re- South China and recently suggest- ported from the lower salarieded to. Japanese sugar companies
During the period under review ranks of the Russian community. the advisability of expanding their "THEY MUST WORK”
These people wi frankly admit activities in that area, believing it it is estimated that the central About 15 per cent., it is rellably that they are in fear of their essential that Japan. “Manchukuo" foreign exchange reserves of the reported, of these new arrivals | Ilvelihood.
should attain self- | debtor countries belonging to the They declare they and China have already obtained employ-have
established them-sufficiency in the supply of that sterling group increased to over £165 millions, or not far from ment-chiefly at salaries ranging selves in what is almost a monopoly commodity. from $80 to $120 a month. "The of all the city's low paid foreign As a result, the Chief Secretary | $500 millions (old). Repayment of employers of these people know jobs and to lose them now would of the Japanese Sugar Federation | German short-term debts since the they must work and that they have be more than many of them, and three engineers are participat- financial crisis are thought to have no reserves and are adjusting their wearied with years, coulding in the coming tour and will in-been in the neighbourhood of
vestigate the possibilitles of em- $1,000 millions (old).
capital Japanese
and There is some truth in this, ploying local observers point out. On the technique with a view to develop- ing a much greater output than in whole, however, the now
the past.
salary offers accordingly," one businessman told members of 'his club.
arc
Others, however. busily engaged in establishing factories. Already a medicine factory, managed by an expert from, one of the greatest Ger- man chemieni laboratories. Is under operation. The first product produced has been as- pirin. Plans are being laid, for the manufacture, at extremely low prices. of some of the finest and most expensive medicines.
M
Tallor shops, barber shops, two Viennese cafes, provision stores and a weaving factory have also been opened by the refugees.
TRAGIC DISORDER
bear.
the
Jewish ar- rivals are more aggressive and possess better training than the
Russians. he added. They expect CUSTOMS
them to work themselves into higher paid positions and. out of direct competition with the poorer Russians in a short while.
COTTON MİLL PROJECT
Big Yunnan Works Planned
SUB-STATIONS
RESERVES SOLD
Besides Germany, several other debtor countries sold part of their monetary gold reserves during the perlod, but it would appear that, on balance. the monetary reserves
of all debtor countries declined by
several hundred millions of gold dollars during this period,
These items therefore represent
CHUNGKING, Jan. 30 (Central) -A Shanghai report states that the Shanghal Maritime Customs has planned to establish three sub-only a portion of the amount of" stations at North Station, Jessfeld, and Siccawel. A large number of Japanese officials of the Customs Administration will be appointed at these stations.
The new sub-stations, it is stated, will start functioning on February 1.
$4,000 millions gold, Estimated to have been available for the reduc- tion in the short-term debts, or lor an increase in the short-term as- sets, of debtor countries as a result of their surplus on account of cur- rent items.
WITHDRAWAL FROM ABROAD.
The large number of the Jewish
Plans are being formulated children, exiled with their
by the Bank of China, the parents, who continue to be car-
southwest provinces is said to be Bank of Communications and ed for in the homes of Shanghai
proceeding apace. Among the en- the Futien Bank of Yunnan for foreign families. away from their
terprises launched for this purpose the organisation of a large- parents, is indicative of the tragic
are the $5,000,000 West China "De- scale cotton mill in Kunming," disorder that stil provalls in
velopment Corporation, the $10,000. according to the local Shun Pao, Tany of their lives. French
000 Great China Industrial Com- families, it is reported, have been
The projected concern will also. pany organised by General Llu particularly helpful in the care undertake to do dyeing work. A│Wen-hul, Chairman of Sikang, for and provision for the children. preparatory committee for the es-the exclusive exploitation of Sze- On the whole, Shanghal has tablishment has already been form-chuan and Sikang, and the $50,000, been "helpful and cordial to the led. It is expected that the new 000 mining concern of Mr. Aw new arrivals. The fact that, organisation will shortly come into Boon-haw, well-known Chinese in--may have been rendered possible although the great majority
dustrialist and philanthropist in
being. o!
them are living in areas direct- The economic development of the Singapore
ly under Japanese control, no incident of any kind has occurred between the two peoples has
THE SHARE MARKET
Philippine Gold Mining Quotation
Antamoks
Atoks.....
434
331
Bagulo Gold
20
Benguet Consol.
1320
Coco Grove
451
Consol. Mines
0025
214
62
San Mauricio
172
Suyoc Consol.
21+
United Paracales.
65
an
Demonstrations
I.X.L.
U.S. Treasury Continues
To
Be Heavy Silver Buyer
NOTWITHSTANDING A RISE OF $1,750,000,000 - In United States' gold stocks during 1938 t» 514,500,000,000, or far in excess of any conceivable need, it is of interest to observe that the Trea- sury continues to be a heavy buyer of silver.
Thus, during the year Treasury's acquisitions of silver. amounted to approximately 400,000,000 ounces, the largest since 1935, the previous record year under the silver purchase pro- gramme.
H
The imports of foreign sliver | 64,000,000 ounces, or about 10 per during the first eleven and one-cent smaller than last year. half months of 1938, valued at The Treasury, in accumulating $220,000,000, and equivalent to over silver is acting under mandate of 500,000,000 ounces at 43 cents per the Silver Purchase Act of 1934. ounce, were likewise the largest which declared it to be the policy since 1935.
of the United States to maliitala a The domestic output. purchased quarter, by value, of its combined at about $40.000,000, or 64.84 cents gold and silver stocks in silver, ounce, WES approximately counting silver at the coinage rate
of $1.29 an ounce.
"SHORTAGE”
HONGKONG SHAREBROKERS ASSN.
VOLUME OF BUSINESS TRANSACTED ON MONDAY, 30TH JANUARY
STOCK
Hongkong Banks
Star Ferries
Telephones (Old)
Tramis
Electrica
Number of
Shares
Price
4
.50
1,365
71.
100
221
200
16.00
200
581
100
144
China Light Rights
1,352
3
44
2.95
China Light Rights
Lands
100
36
Hongkong Govt. 4% Loan.
$3,000
81%
Itogons
10,000
32 ctvs.
Coco GIOVS
11,000
451
•-Pret.
Steamboats
It is declared that there can hardly be any doubt that the chief creditor countries have drawn upon their net resources abroad to â greater-extent than available data concerning their outstanding assets and abilities suggest.... The liquidation of their long-term in- vestments abroad may have been greater than recorded, or the main- tenance of these investments-as In the case of the United Kingdom
through the withdrawal of floating assets abroad. Further, the short- term debts of creditor countries, resulting from the inflow of capital from debtor countries, are likely to have increased more than is gen- erally supposed.
Details of the inflow of capital into the United States during the period 1935-Junë. 1938, ar sum- marised below:-..
||
Banking
funds. $ 1000,000's) Total Creditor
countriest 784 362 1,051 2.197 Debtor
840
countries 454 281* 105+ Including European debtor coun- tries other than Germany and Italy.
* Foreign securities repurchased.
+ US, securities purchased.
DEVELOPING" YUNNAN
However, despite persistent and
KUNMING, Jan. 29 (Central)— heavy buying. the Treasury has An Overseas Chinese Yunnan In- been unable to bring its allverdustrial Corporation capitalized at boldings in line with the objectives $50,000,000 will be organized by Mr. of the Act, and in December, 1938,
Aw Boon-haw, Singapore Chinese the liver'"shortage" was still
Industrialist and philanthropist, for 1,167,000,000 ounces, compared with
the economic development of the 1,118,000,000 ounces a year ago and
southwestern provinces. 1,333,000,000 ounces in July, 1934, when the Silver Purchase Act be- came operativo
The projected corporation will undertake to exploit mines and re- claim waste land.
A group of mining experts has arrived here from Singapore to in-
The explanation, of course, lies in the continuous increase in the gold stock. As fast as silver was bought, the rising gold stock called | vestigate the mineral deposits, for additional silver, with the re- With the approval of Gen. Lung sult that for four and a half years Yun. Chairman of the Yunnan the silver reserves have been "pur-Provincial Government, several.dis- suing the gold reserves without tricts, including, Szemao, in south making any appreciable gain upon Yunnan will be marked out as re- them.
clamation centres.
TUESDAY, JANUARY 31, 1939. -PAGE 11
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CHICALS MILWAUKEE
57 (362
THE MILWAUKEE ROAD
CHINA WAR RELIEF ALBUM
il
(EDITED BY THE China Information Service)
AN ILLUSTRATED RECORD
OF
WAR RELIEF IN CHINA 50 cents PER COPY
CONTENTS:
APPEAL FOR REFUGEE CHILDREN
by Madame Chiang Kai-shek. OFFICIAL STATEMENTS
by Gen. Yu Han-Mou,
Governor Wa Te-Chun, Mayor Tseng Yang-fu
CHINA'S ARMY, MEDICAL SERVICE
PICTURES WOODCUTS - DRAWINGS
ETC.
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OBTAINABLE AT ALL BOOK-SELLERS
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非。
THE Undersigned have received
instructions
TO SELL BY
PUBLIC AUCTION
ON
TH
TUESDAY, the 31st JANUARY, 1939,
Commencing at 19.30 a.m.
At No. 132 Argyle "Street,
1st Floor, Kowloon,
QUANTITY OF VALUABLE HOUSEHOLD FURNITURE
A
On VIEW from MONDAY, the 30th JANUARY, 1939.
Terms: Cash on Delivery,
LAMMERT BROS..
AUCTIONEERS.
Gi
PUBLIC AUCTION,
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THE Undersigned have received
to sell by
PUBLIC AUCTION
!!
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TUESDAY, the 31st JANUARY, 193
Commencing at 2.30 p.m..
At their Sales Room, No. 35 Hankow Road, Kowloon.
A QUANTITY OF VALUABLE, HOUSEHOLD. FURNITURE
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also
3 Remington" Typewriters
5 Genuine Persian Rugs
2 Wardrobe Trunks
1 Axminster Carpet.
則
On VIEW from MONDAY,
the 30th JANUARY, 1839.
Terms: Cash on Delivery.
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AUCTIONEERS,
PUBLIC AUCTION.
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PUBLIC AUCTION
ON
THURSDAY, the 2nd FEBRUARY, 1939
Commencing at.31.00 x.m.
At their Sales Room, No. 2
Connaught Road, 'Central,'
Ground Floor.
A QUANTITY OF VALUABIK HOUSEHOLD FURNITURE
700 Pieces Steel Tubs
30 Doz, Felt Hat Cones
7 Pieces Steel Casements
4 Cases Torchlight Lenses
3 Bags Mineral Ore
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