1939-02-18 — Page 12

HONGKONG DAILY PRESS

ORGANISATIONS FOR S.W.

CHINA DEVELOPMENT

CHUNGKING, Feb. 17 (Central)—A number of organisations to carry out the programme of economic development of the Southwest either have been, or are being, formed in Szechwan, ' Yunnan, Kwelchow and Sikang.

H

In Szechwan, leading financiers and industrialists have or ranised in Chengtu a Stechwan-Sikang Textile Corporation.capi- talized at $300,000 to manufacture textile goods.

A silk factory capitalized at chemical dally necessaries as sub- $4,000,000 has also been establish- į stites for imported articles.

ed by the Miniatry of Economies. and the Szechwan Provincial Gov- ernment. The articles turned out are meant to substitute for im- ported goods.

An elaborate scheme to de- velop Yunnan's mining, forms- tation and other Industries will shortly materialise as Mr. Aw Boon-haw, well-known Chinese industrialist in Singapore has promised to invest $50,000,000 for the purpose.

An important enterprise, which will be launched In Szechwan shortly, is sugar refinery. With

For the exploitation of Kwel- the sugar refineries in Kwangtung chow's mercury and other mineral either damaged or occupied by the

products, a Kwelchow Mining Ad- Japanese, Szechwan now becomes

ministration has been established the chief source of sugar supply. Experts have been despatched to the provincial authorities. and various districts to investigate sugar production as a basis for developing this industry.

COPPER EXPLOITATION

MONEY AND

EXCHANGE

FINANCE

H.K. STOCK EXCHANGE

The volume of business transact-

CLOSING QUOTATIONS ed during the week was on a rea-

FEBRUARY 17, 1939

On London:

tricted scale owing to lack of in- terest on the part of buyem. Bel- lens however, were not keen to part with shares at current prices Telegraphic Transfer. 1/13/16 as the dividends now being de- Bank Bills, on demand!/9 13/18 |clared-in most cases better than the holding", of Credits 4 months' sight 1/3 1/16 | Mast year-make On Shanghaf:----

shares in various companies - sub- tractive' as investiments.

On demand

On Singapore:---

17A nom

On demand .... On Japan:-

33

1 3/4

On demand On India:-

Talegraphie Transter. }82 8/8. and demand................. On New York:-

Bank Bills, on demand 98. 7/2 Credits, 60 days' sight 19 3/8 On Batavia';---

On demand Paris:-- v

03-5/8

Bank Bills, on demand 1040 Credits 4 months' sight 1130 Un Saigon:----

the National Resources Commis-On slon It is capitalised at $400,000. Besides mining the Administra- tion also undertakes to marketing and distributing of mineral pro- ducts

In Yunnan, the National Re- In view of the rich gold deposits sources Commission and the Yubin the new province of Bikong, the nan Provincial Government have provincial authorities there sre jointly organised a North Yunnan nowe.consulting the Ministry of Mining Corporation for the ex- Economics on plans for large-scale ploitation of the copper and other exploitation of this yellow metal. mines in that part of the province. A gold mining bureau, it is learn- The bureau has a capital of $2.000. ed. has been established." 000.

.....

A. Kiayang Coal Mining Corpora-

A group of chemists in Yunnan tion has also been organised to de-

On demand ............... 18.3/1 On Manila:-

On demand...... On Bangkok ----

On demand Sterling Notes:— ***Bank Buying Rate Bar Silver per os.

Market Report

.... 48

130

From Roza Bros.

20 5/8-

has organised the Hsing Hwa In-velop the coal helds in that pro-3/16 yesterday to 20.5/8 but the dustrial Bocleby to manufacture vince.

The price for Ready Silver rose

Forward rate was unchanged at 19.7/8. Silver advices reported

WEEKLY RETURNS AND REPORTS speculators as having bought. The

BANK OF ENGLAND

Public Deposits

Other Deposit:-

Bankers

**

London. February 16 (Reuter}.

Feb. 9"

Feb. 16 (000's omitted) £15,350 € 12,480

103,950

Other Accounts

35,490

110,530 35,500

Total

139.440

146,030

Government Securities

*77,640

82,490

Other Becurities:-

Discounts and Advances

20,650

18,120

Securities

22.360

21.870

Total ......

43,010

39,990

Notes and Coins

52,310

54,200

Total Bullion

127,300

127,420

Notes in circulation

475,000

473220

Ratio of Reserve to Liabilities.

33.79°/

34.19

FEDERAL RESERVE SYSTEM

Bills Bought

US: Securities held

New York, February 16 (Reuter).

Federal Reserve Ratio

Federal Reserve Credit Outstanding

Monetary Gold Stock

Industrial Advance

LONDON METALS

EXCHANGE

London, Feb. 18. (Reuter).

COPPER

buyers sellers

£

Standard, Cash 41-7/16 Standard.

£ 41-1/2

Electrolytic

3 month 41-13/16 41-7/8 47-1/2 ...... 46-1/2 TIN

Standard, Cash 211-3/4 Standard,

3 months 211

LEAD

Foreign;

Official Price 14-1/16.

Foreign. Official

3 mmoths 14-3/6

SFELTER

Ordinary,

Official Price 13-1/4

Ordinary, Oficial

212

r

211-1/4

14-1/8

14-1/4

(000's omitted)

1,000 $ 1,000 2.564,000 2,564,000

84.14% 2,584,000

84.14% 2.587,000 14,772,000 $14,738,000 14.882,000

14,732,000

SILVER MARKETS

JI

LONDON SILVER

London. Feb. 16 (Reuter). SILVER- Speculators bought "Spot" while bears extended sales for "Forward." Market steady.

Spot, 20-5/80.

Forward. 19-7/84.

NEW YORK SILVER New York, Feb. 16 (Reuter). Octal Price. 42-3/4.

BOMBAY SILVER

Bombay, Feb. 16 (Reuter).

| Market-Quiet Oftake 20 bars.

Indian Mint Silver Ready

52-09 52-08 Mar. 17 Settlement... 52-08 52-07 Apr. 17 Settlement.... 52-05 53-03

THE DIAMOND

IN INDUSTRY

market was steady. American Silver was quoted at 42 3/4 for Spot.

CTORS-

The London/New York rate was quoted at 489.50. New York/London was quoted at 468. 9/16.

Market

Opened easy but later seemed a shade steadler.

Sterling

Business was done at 1/2.29/32" for the first half of March" and February. Later March was also arranged. The market closed at

i p.m. with sellers at 1/2.29/32 February/first, half March and |1/27/8 March/April, probably May, buyers at 1/2.15/18 for cash and 1/2.29/32 April/May.

U.S. Dollars

BUSINESS DONE DURING

THE WEEK

Hongkong Bank, $1395, #1410,

A $1415, $1420, $1415. .... Union Insurance, $485, 8467. China Underwriters. $0.65, $0.70.

$0.60.

Hongkong Fires' $180. Wharves $118.

41

Providents (OM), $6.70, $5.50. Providents (New), $6.40.

Hotels $61.

Lands, $381.

Realties, $54.

Tramways, $17.40, Star Ferries, $71).

SATURDAY, FEBRUARY 18, 1939. -PAGE 11

KIRIN

The

B

E

E

Choice of

The Multitude

가

Sole Agents

R

H. HONDA & CO.

China Lights (Qld), $83

Tel. 20720.

China Lights (New), $5).

Electrics, $68, $574, 357.. Dairy Farms, $23. Watsons, $7.85. Entertainments.$7. Govt. 31% Loan Par. Maramans (Lond), 13/9.

CHANGES 3.30 PM... (CLOSING QUOTATIONS)

Buyers

Union" Insurance, $465. HK Tramways,” $17.10. HK. Electrics, $564. Cements, $15.30. HK. Ropes, $4.05.

Sales

Hongkong Bank, $1430. China Underwriters, $0.61, Providents (Old), $8117.45. H. and S. Hotels; $61. Dairy Farms, $231.

Puris Exchange“-

Paris, Feb. 17 (T/Ocean). Sterling was quoted at 177 to 177.95; U.S. Dollar 37.75 to 73.764.

New York Exchange

New York, Feb. 15 (Reuter). TIT. on London (Opening Rate}, 4.68-1/2.

A small business was done at 29 Calcutta Exchange 1/16 for March delivery.

The

market closed at 1 pm, with sel- ! lers at 29 1/16. February/March.

Calcutta, Feb. 15 (Reuters. TT. on Japan, 78-5/8.

29 April and 28 15/18 May, buyers India Rupee Paper

at 29 1/8 for cash, 29 1/18 first half of April and probably 29 for May.

Shanghal Dollars Sellers at 183 1/8 for Spot.

Shanghai Market ·

Sellers at 8.1/8 for Spot and US, Dollars 15.27/32 for Spot.

AFTERNOON MARKET

The market was culet in the afternoon.

at

Sterling The market closed with sellers 1/2.29/32 February. 1/27/8 March/April, probably May... and 1/2.27/32 June/July, buyers at 1/2.15/16 Cash, 1/2.29/32 March! May and 1/27/8 June/July.

U.S. Dollars

The market closed with sellers at 29 1/18 February/first half March, 29 March, probably April and 28.15/18 May, buyers at 29: 1/8 for cash, 29 1/16 April and 29 May.

Shanghai Dollars

183 1/4 for Spot.

Diamonds are now being used to Shanghai Exchange.

13-5/16 a considerable extent in the heavier

3 months 13-8/16 13-5/8 Final Afternoon Transactions

industries. The extreme hardness

of the diamond makes it invaluable

for trueing all grades of grinding

Tin, Standard; Cash, £212-1/2 tools, and diamonds have also sellers,

Shanghai Feb. 17 (Reuter), :

Official T.T. Rates

London

been successfully introduced into

New York

Japan

boring.

Tin. Standard, 3 Months, £211-the process of turning and fine 3/4 paid and sellers..

47.

At a motor factory in Birming-

BANK OF FRANCE ham, a highly adlied diamond

GOLD RESERVES

Paris, Feb. 18 (Reuter

Paris Hongkong

Opening

0/8,

13-5/8

56-7/8 5.48 53-3/8

Open Market-Selling Rates

setter, is employed whose sole oc- cupation is to grade the stones for hardness and set each one accord-spot ing to the process for which it is February

March

The return of the Bank of France for the week ended Feb, to be used.

Diamond chips and the softer April 8. shows gold "reserves totalling 87,268,000,000, Francs of gold con- black diamonds all have their par- tent of 27.5 milligrammes, showing ticular uses,

the special Spot

and

no change from the previous week. method of setting renders main- February

tenance and re-setting an easy

March

Sterling

Opening Closing (0/8-1/8" 0/8-1/8 0/8-1/80/8-1/8 0/8-7/64 .0/8-7/64 `0/8-5/64 -0/8-5/04

G.S. Dollars

.. 315-27/32. $15-27/32 15-27/32/15/27/32

...... 15-25/3215-25/32

The total note etrculation matter. In spite of their peculiar April 15-23732-15-23732 |

given

111,259,000,000 Francs,

hardness, "after · a... certains, time showing a decrease of 595,000,000 wear is inevitable and the diamonds Francs.as, compared with the pre- are then returned to the expert, vious week.

BROKERS LOANS -New York, Feb 16 (Reuter). Loan on securities to brokers-in

New York:

Week-ended

9/2/39 $638,000,000

Week-ended 16/2/39. $680,000,000

who re-sets them in the diamond stick

London Exchange

LONDON GOLD A

London, Feb. 16 (Renter). Bar Gold, Fine per oz. 143/44. Dollar. Parity, 1/2. premiam.

London, Feb. 17 (EWS). Closing mean rates were :— Paris, 178-61/64/5 New York, 468)... Montreal, 4.70-3/4. Brussels, 27.177. Geneva, 20.83. Amsterdam, -8.734.

· Milan, 89-1/18. -

Other rates unchanged. Berlin, 11.671.

Market-Quiet.

Merchant Rates Sterling, 0/8-3/32. US Dollam, $18-13/16.

** Silver Duty Rate

The Central Bank of China's rate on London at 10 am. to-day was 1/2-1/2d.. unchanged from yesterday.

The Equalisation rate was B-1/2 per cent,

Bechu Exchange

The

Berlin, Feb. 17 (T/Ocean); Heichswark was quoted

without guarantee at:-New York 40.14, Paris 1517, Amsterdam 74.72), London 11.58.5

Bombay, Feb 16 (Reuter). Govt. 31% Rupee. 95-14-0.

40, Johnston Road, Hong Kong.

從可用耐油漆機肥駱

PAINTS, ENAMELS,

VARNISHES & SPRAY LACQUERS

DURABLE ? ECONOMICAL

MANIFACTUITO EV

THE NATIONAL LACQUER & PAINT PRODUCTS CO. LIB.

KING'S ROAD, HONG KONG, TEL 31601-3

司公限有油

Get the world's good news daily through CHRISTIAN SCIENCE MONITOR

THE

An International Daily Newspaper

Published by

THE CHRISTIAN SCIENCE PUBLISHING SOCIETY. One, Norway Street, Boston, Massachusetts, Regular reading of THE CHRISTIAN SCIENCE Moxrron is Ita clean considered by many a liberal education. unbiased news and well-rounded editorial fentures, inclu- ding the Weekly Magazine Beetion, make the MONITOR the ideal newspaper for the home. The prices are: (U. 8. Money)

1 year 312,00 6 months 88.00 8 months $3.00 1 month $1 00 Wednesday issne, including Magarine Section: 1 year $2.60, 8 issues 26c, and the paper is obtainable at the following location:

CHRISTIAN BCIENCE READING BOOM First Church of Christ, Scientist,

31, Macdonnell Ecad,

Hong Kong.

LAMMERTS' AUCTIONS

G.

PUBLIC AUCTION.

THE

THORNYCROFT

1.

HE Undersigned have received

instructions

TO SELL BY

PUBLIC AUCTION

THURSDAY and FRIDAY,

the 23rd and 24th FEBRUARY,

1939.

'J

Commencing each day at 9.30 a.m., with an interval from 13 noon

to 1.30 p.m.

“

At HM. Naval Yard, Hongkong, -

and at Kowloon Naval Depet.

པ”བས།

OLD AND SURPLUS NAVAL. STORES. &c.

Comprising:

Steam Boat without boller, Machinery for Steam Boat, Bollers, Wall Cranes.

»Old Tools, Canvas, India, Rubber, Clocks, Leather, Electric Gear, Electric Motors. Lamps, Cars, Cordage, Firewood, Blankets, Counterpanes, Carpets, Rugs,

Coverlets, Beds, Wash Basins, Furniture. Electric Cable, Ol Drums, Dirty Oll, etc.

also

Zinc,

Old Metals comprising Copper, Brass, Iron, Steel, Lead Old Battery Plates, etc.

Lots may be Inspected on Wed- nesday, 22nd February, 1939. Terms of Sale:-As detailed in Catalogue.

LAMMERT BROS.

By Appointment, Auctioneers to the Admiralty,

Here's a REAL boon to bors!

HEAVY OIL

the THORNYCROFT

'HANDYBILLY'

operated on the Hesselman principle and, with very little increase in weight or overall dimensions, combines the lighter weight and smoother running of the petrol engine with the low fuel cost of the diesel,

9 H.P.

Bore, 3 in. (89 m.m.); Stroke, 4} in. (114.2 m.m.); Displacement, 88.5 cu. ins. (1415 cc.).

Two cylinders

Engine speed: 1,100 r.p.m.

Tailshaft speed: 700 r.p.

Fitted with combined

1 reducing-reversing ger

THORNYCROFT

stands for Satisfaction

FOR FURTHER PARTICULARS

APPLY TO OUR

HONG KONG OFFICE. TEL 22363. ST. GEORGE'S BUILDING, 1ST FLOOR.