1939-02-04 — Page 11

Daily Press 孖剌西報 All

HONG KONG DAILY PRESS

Finance and Commerce

BRITISH FINANCE AND

COMMERCE

Economic Conditions

The steady improvement in the seventeen per cent. But perhaps level of general prosperity in Oreal the most significant of general

merely production figures are Britain is apparent not

NEW WORLD COMMODITY

Unique Price Index

FINANCE

PENSIONS

FOR PAST

H. K. STOCK

EXCHANGE

Feb. 3, 1939

MEMBERS The market has had a quiet but

the

Interest

BUSINESS DONE DURING

$1385,

THE WEEK

Hongkong Bank, $1370,

$1370. $1400, 51410. Canton Insurances, $210, $215. Union Insurances, $455, $453,

$456, $100, $485. Hongkong Fires, $170 H.K, Steamboats, $13). H.K

Docks (Old), $17. $17.30. $171 $17. HK. Docks (New), $16.45, Providents (Old), $5.80, $6.35. Hotels, 16.60, $6.70.

SATURDAY, FEBRUARY 4. 1939.-PAGE 11 PLIGHT OF LANCASHIRE COTTON INDUSTRY

Appeal For Government Aid

mier in the presence of Mr. Oliver Stanley, President of the Board of Trade, and Mr. Ernest Brown, Minister of Labour.

•

Was

Steps should be taken to ensure that textiles exported as part of the British quota to the colonies

the stearty improvement during LONDON, Feb 3 (BWS)-Before (week with prices also advancing. proceeding to the discussion of The turnover at the close has in-

A ...deputatioä representing mediate financial aid for cotton private members, the motion on creased in volume and buyers the scheme for persions for past would appear to be taking more Luncashire cotton employers and and rayon exporters who are faced

workers who are appealing to the with subsidised competition members of the House over 60.

Government for assistance to Lan-roods produced under low-waged with less than £3 weekly on which

cashire was received by the Fr-conditions. to live, was moved by Sir Assheton Pownal and seconded by another Conservative member in the House Through the joint efforts of Gen- those eral Motors Company and Cornell of Commons to-day. to give the trom the increased earnings of relating to the output of gas in the University a new world commodity second reading to the Bill providing commercial frins, but frein many British Isles. They show an increase price index is being published now for the taking of census of produc

on a weekly basis for the first time. tion. and finished the committec other aspects of production and of 467,000.000 cubic feet; for the consumption. In the former category last twelve months, and the increase The Index, unique in its field, is stage of the Bill extending two representative firms may be since the Great War is over 53 per designed to serve as a guide to in- powers of the Board of Trade to selected from those which published cent. Industry is taking more cas.dustry, business, and finance. In give guarantees up to a maximum reports of their year's trading just and this points not only to the following world price trends the of £75,000,000 instead of £50,000. efficiency of this high-grade fuel source of much confusion in these c000 as at present for the purpose before Christmas.

of establishing A well-known firm of British for manufacturing purposes, but to years of economic citsis. engineers showed a year of steady greater activity in trade of all The new index is built upon 40 oversea trade.. trading and of considerable develop-kinds. As a general index of econo- basic commodities. including

Replying to the debate the ment in its export business, while mic well-being in Great Britain 11 grains, livestock, products, s-

Secretary, of the Department of firm o manufacturers Of is customary to accept the figures cellaneous foods. textiles, fuels,

Oversea Trade, Mr. R: 8. Hudson, insulating material, asbestos goods, for the output of beer. The latest minerals,

rubber, hides, ümber. etc. Increased its net trading profit statistles show that the October and others. Each commodity mentioned that the net Increase in! from £1,333,000 to the record beer

by production

the United is

Its capital commitments of the Export weighted according. to figure of £1,382,000 for the year Kingdom was the best for that relative Importance in world pro- Credits Guarantee Fund, since the ended September 30,

month since 1930. and the tenduction and the same weighting is B was introduced last December, The output of British motor months' total, from January to used in the index of each country') was £1.500.000. vehicles has increased by thirteen October. shows a rise of more regardices. or the compara- per cent. In recent months, and two per cent over the output Inve importance of "the

the corresponding period of last modity between September and October this year car sales increased over year.

MORE FOR U.S. ARMS

CHINA EXPORT

CREDITS

encouraging

At that time there had been a com.

balance of about £6,000,000 avail- in any one country. Thus the index is designed to give able under the old maximum How

graphic form, an idea of the long the new maximum would suf average movement of prices over fce depended on the degree to, the entire world in the listings which the industries avalled them- which predominate in world trade selves of these facilities. He re- and in world raw material mar-minded the House that his depart

ment were urging upon the export Industries the destrability of-or- ganising themselves to meet mo- dern conditions in world markets.

kets.

非

LONDON. Feb. 2 (Reuter) Re- Prices used are collected by the plying to the debate in the House General Motors agencies in the of Commons to-day on the Ex-United States, Canada, Australia, port Quarantees Bill, Mr. R. A. New Zealand, the Netherlands, Bel- wereum. France, Sweden, and Finland. Hudson said that if there demands for railway and other Prices from countries where arti- equipment for China, he thought ficial price restrictions exist are not a transaction of the order and included, but other countries now magnitude he had in mind would included will be taken on require terms of credit so lengthy, dually.

Big Air Scheme LONDON, January 13-A total appropriation for national defencel of $525 millions £105 millions) was asked for by Presient Roose-|

his Special Message velt in Congress on January 12,

as hardly to fall within the pur- Computation of the index is done The outstanding feature was a view of the Bull.

{at Cornell University. Gold is used proposal that $300 millions £60

millions)

If it were decided to do some- as a base in order to steer clear Nov. 1937 should be

Επ spent providing additional aeroplanes thing of that nature, the House of current obscurity in monetary June, 1938

Billtheories for the army. The President sug-might be sure that a special Rested that of this total $50 would be brought in.

Mr. Hudson added that millions (£10 millions) should be made available at once so that the were Krave objections. from present lag in aircraft production international viewpoint to publish- due to idle

te ing the amount allotted to plants could

each country.

corrected

World-in US.-in

Gold Gold

gra-

1910-1914

100

Feb. 1933 April 1937

there the

The year period 1909-1914 Oct. 1928 was chosen as the base price be- Week ending cause of the comparative stability Oct. 29

61.2

62.4

of that far-off time-far of. at any rate, in terms of events transpired: Nov. 12 The index prepared is now tabu. Nov. 19 lated as follows:

Nov, 5

61.1

62.6

60.8

62.4

60.7

62.9

Nov. 2

60.4

→ 63.1"

countries with which Great The deputation' emphasised that

Britain has trade agreements the cotton industry urgently

should "comply with the formula needed aid in view of the present "spun woren and Antshed in Great

which depression

mainly attributable to foreign subsidised | Britain."

The Lancashire competition and trade barriers in-

industria dis-.. treated as n jatituted by countries desiring their telets should be {own cotton industry,

special area to receivé Government The deputation submitted assistance for the establishment of memorandum urging that in future new industries. The memorandum trade agreements with other coun- denied that the Lancashire in- Tramways, $17, $16.80, $16.90, $17,tries, the cotton industry's interests dustry is out of date and given should be specially safeguarded, equal conditions could compete particularly as regards colonies and with the world in making goods of mandated territories, and also im-Iruality and cheapness.

H.K. Lands, $35, $384, $38), $364, Humphreys, $9.

·Realties, $5.65.

$17.20, $17.40.

Star Ferries, $71}, $71.

China Lights (Ex Rts), $8.30.

Chian Lights (Rights), $3, China Lights (New), $5).

$57/58.

Telephones (Old), $23.

Telephones (New), $7}, ... Cements $15:90. $15.80, $15.70.

$15.50 $15.85, $15.00, $15.95. Dairy Farm, $23, Watsons, $7.55, $7.50,, $71. Sinceres, $13. Entertainments, $7.10. Ewn Cottons Sh.. $15.80.

CHANGES...

THE SHARE MARKET

"ASSOCIATION Philippine Gold Mining Quotations

Antamoks...

Baguio Gold

Benguet Consol. Coco Grove

Consol. Mines Demonstrations

I. X. L.

Electrics, $55), $50, $57, $57, HONGKONG

SHAREBROKERS'

Volume of Business Transacted

443

on Friday, February 3

Atoks

35)

201

No. of

14.00

STOCK

Shares Price

47.

Electrics Mectrics Lands

133

$58.

0025

581

100

381

500

15.95

San Mauricio

1.74

Providents (Qld)

500

6.35

Suyor Consol.

Providents (New)........

500

6.20

United Paracales

Steamboats

134

Market Comment.-6.

Underwriters

4,000

.48

'Underwriters

5,000

Underwriters

1,000

.48

Underwriters

2,000

$5,000 4% prem.

500 $8 5,000 Ps.0.224

(CLOSING QUOTATIONS)

BUYERS

Union Insurance, $465. HE. Fire Insurance: $175. HK. Docks (Old), $ti). Providents (Old), $6.35, Providents (New), $6. HK Lands, $36.35. HK Tramways. $17.35. China Lights (Old), $8.75. China Lights (New), $5.75. H.K. Electrics, " $58. Macao Electrics, $17). Sandakan, Lights, $10. Telephones (New), $1,80. Cements. $15.90.

Watsons, $7.70.

SELLERS

Hongkong Bank, $1415. Canton Insurance, $220. H.K. Fire Insurance, $195. Humphreys, $9.10.

Cementage

Govt. 4% Loan Watsons Demonstrations

HK Mectrics, $581. Cements, $16.

SALES Hongkong Bank, $1410. Union Insurance, $465. HK Steamboats, $134. H.K. Docks (Old), $17), Providents (Old), $8.35. H.K. Electrics, $574/58. Cements, $15.95

CONTROL OF EXCHANGE

PEIPING, Feb. 2 (Reuter) Exchange control 1s functioning in Chefoo as from yesterday on Japanese naval orders that ex- port permits will only be grant- ed if export bills are sold through the Yokohama 8pecte Bank branch, which is only accepting them at the artificial rate of 1/2d per collar..

Shippers are refusing to · ex- port, and their coastal vessels are salling from Chefor without cargo,

1939-02-04 — Page 11

Comments

Private Research Note