1939-03-02 — Page 11

HONGKONG DAILY PRESS

Finance and Commerce

Currency Stabilisation

In United States

WASHINGTON, Feb. 28. (Router)~~~~Testifying before the House of Representatives Coinage Committee, Mr. Heary Morgenthau, Secretary to the Treasury, to-day strongly urged the renewal of fund and dollar emergency powers covering the stabilisation

devaluation, which otherwise expire on June 30.

д

*

He maintained that power to important country had taken such

an action, devalue the dollar had been

He said that the fact that the "warning to the world that we are

defend able to

the United States kept the gold value ready and position of this country in world of the dollar through international trade, and to protect American monetary disturbances in the past goods from intensified competition Ave years should be an adequate in the United States."

newal

of

emergency

SILVER BUYING

War Speeds Up Industry In Fukien

FOOCHOW, Mar, 1 (Central) -The war has accelerated in-. dustrial development in Fuklen Province. With the encourage- ment and assistance of the pro- vincial government noticeable progress has been made in the machine-making, cotton, paper. surar and other important in- dustries.

Mine machine workshops in assurance that the Administration Foochow have been amalgamated Mr. Morgenthau refrained from jdid not desire, nor intend, to alte- specifically recommending the re-the gold value of the dollar, except into a big factory and removed to

the employment

scientific powers under circumstances clearly de-he interior of the province. With methods this factory is turning out authorising the purchase of newly-manding such action.

new types of farming implements, mined silver, but drew attention to

and the fact that these expire on June

Another message says that an communication Instruments

to. 30, and that under the proposed

amendment

the Treasury other machines A new"invention Approriation Bill designed to limits the charcoal tamp" Bil they will be extended until

Mr. Yen Chia-ta, Fuklea Com- January 15, 1941.

silver buying by the Treasury to newly-mined domestic silver was missioner of Reconstruction, who

Lira the House of inspected the factory is well pleasedį defeated

to-day by 155 with its manufactured articles, and Representatives

the Fukien Provincial Government votes to 135.

will extend a big loan to it for fur ther development,

it

It was approved earlier by a standing vote 130 to 128, but this was reversed by a subsequent teller

RESERVE WEAPON Urging renewal of Presidential authority to change the gold value of the dollar, Mr. Morgenthau made it clear that the Administra- tion does not intend to change the dollar unless an emergency arises. but he strongly favoured retention vote

"reserve Q this of

power weapon."

Mr. Morgenthau asserted that it, would be unwise for the United States to "te her hands" by per- manently fixing the gold value of

25

Weaving and textile factories in Foochow, Nantai, Kiangkowhslang

FINANCE

H.K. STOCK EXCHANGE

Buyers were more in evidence to-day during the short session. Prices were marked up in most cases, indicating a further in- provement.

Bayerw

Douglases. $671. Raubs, $8.25.

HK, Realties, $5.20. H.K. Tramways, $16.75. Y. Ferries (Old), $23.70. Y. Ferries (New), $2270. " China Lights (Old), $8.40. Sandakan Lights, $9.85. Telephones (Old), $221, HK. Ropes, $410, Dairy Farms, $251. Watsons, $7.80. Wing On H.K.), $41). Entertainmetns, $7.

Vibro Piling. $61.

H.K. Govt. 4% Loan, 3%, pm. H.K. Govt. 311⁄2 Loan, par. Marsmans. (Lon.), 15/8. Marsmans (H.K.), 4/3.

Sellers

HK. Bank, $1435. Union Ins.. $485.

Sales

Union Ins.. $470/75.

China Underwriters, 56 cts. H. & S. Hotel, $81.

China Lights (New). $5.30. Dairy Farms. $259. Maramans (H.K.), 4/7.

RAUB GOLD MINE

The amendment was proposed by and elsewhere are working day and Representative Taber, a Republican, night to turn out enough cloth for who alleged that the United States the wartime demand. The Textile The Hongkong Stock Exchange has been paying for the Sino- Improvement Office has decided to received the following cable from Japanese and Spanish wars as a re- raise $1.000.000 as capital for loans the Raub Australian Gold Mining

of her foreign. silver to various weaving, factories to co. sult

boost their business. It is also planning to open a big, dyeing fac- tory..

the dollar at a time when no other purchases.

"Supermen" Paid At Clerk's Rate

To be a successful

aerodrome

manager a man requires to have

· NUTRITIVE VALUE

Fresh v. Stored Food

"

VEGETABLE-UIL LAMP The Vegetable-Oll Lamp Factory has perfected a kind of vegetable- dll lamp, which is enjoying a widening market. The Provincial Department" of Reconstruction is planning to make use of its equip- ment for the manufacture of can- ned goods and other industrial pro- ducts.

The difficulty involved in the im- the qualifications of a. superman A question posed by the British or the Archangel Gabriel-at

Food Investigation Board to the port of sugar has given chance for and the promotion of the native sugar

3

Clerk's rate of remuneration, ac- Medical Research Council

of the conference Owners' Association recently.

Aerodrome in. London

cording to speakers at the annual dealt with in the Board's report Industry. A Hwa Hsing Sugar Re- "Is food stored inery has been established by for 1937, was: - by modern methods as nutritious: Foochow, sugar merchants in the is district of Nantal. Refined sugar as fresh food?". The answer inconclusive, but generally speak-will be turned out in large quanti- ing, it is favourable to the claims les shortly. of stored food. “

Report No. 543-

fine

0045.

tons Battery treatment 5,252 1,421 1,343 Re-treatment 7,994 497: 683

2,268 2,026

199 ozs, and 184 ne obs. up.

HONGKONG

SHAREBROKERS'

ASSOCIATION

Volume of Business Transacted

on Wednesday, March 1, 1939

No. of

Shares Price

STOCK

Electrics

100 58.00-

Trams ..... Hotels

200 16.75

500

6,70 25 475.00 1,000 56 500 58 2,000 Ps. .441

Captain H. J. Andrews, airport manager at Liverpool, said that

The paper industry has gained these qualifications are required

much impetus through the efforts Sound knowledge of air traffic

It is pointed out that there is of the Fukleri Provincial Depart- radio

Union Ins. control, communications.

Underwriters and meteorological services; ability still so much to be learnt about ment et Heconstruction while the j to read architects and engineers' food and nutrition that no cate-match, dry battery, alcohol, soap drawing and plans; elementary gorical reply can be given. Many and tooth brush industries have Underwriters knowledge of land survey and of years of work on large groups of reaped big pronts during the past Coco Grave

¡year. buildings people would be necessary and methods of Inspecting

drainage: even then results might not be and maintaining and and knowledge of the require conclusive. Nevertheless, ments of the surface of an aero- cal composion of food stored by

LONDON, March 1 (BWS)-The Coco Grove modern methods can be shown to drome.

be little changed, and, in fact, Secretary of the World Interna Consol. Mines The manager should also have stored foods may well be superior tional Wheat" Conference states Paracale Gumaus business abilty, be a practical to food technically fresh but in that on April 13 the Preparatory Ban Mauricio

"Moreover, experi-Committee will reconsider a draft United Paracales office administrator,

the reality stale..

an International Market Comment:-Qulei. have been made on agreement for

in view of in- legal liabilities of the aerodrome ments

have been fed Wheat. Scheme, owner. understand relevant Acts, animals which

LEGAL ABILITY

know

chemi- WHEAT CONFERENCE Benguet Consol

•

of Parliament, and be conversant solely on stored foods, and have struction received from various with the insurance and Alr Navi- proved gation Acts, etc.

to

nourished.

Captain Winters (Bristol) that the Archangel Gabriel could! perhaps fulfil all ments.

said

be satisfactorily governments.

Philippine Gold Mining Quotations

45 Antamoks

13.50

48

003

154

182 65

The

fiftieth

of Representatives exporting H.K. ELECTRIC CO'S countries are asking their govern- ANNUAL REPORT Progress has been made in the ments for authority to take part in

ordinary yearly. export quota fruit. This has negotiations on an gas storage of

the the require- been highly successful in the, case and other figures, which, it is de-meeting of shareholders, of

of apples and pears and is now sired, should be included in draft Hongkong Electric Co., Ltd., will Mr. W. Frank Davison (Mersey-being applied to other fruits, Ex-before the Preparatory Committee be held at the company's offices. side Airpark) said that often periments have shown that staw suggests a time and place for the P, & O. Building, at 11 am. on superman WAS needed for the berries can be preserved for a proposed International Wheat Con- Thursday, March 9. 1939.

offered

was period in this manner.

jab. The salary usually comparable with that of

a

a clerk-about £300 to

year. Another speaker said that a man with the attainments outlined was worth £2000 a year in the commercial field.

REHABILITATION OF KWEIYANG KWETYANG, March 1 (Central)- The Kwelchow Provincial Govern- ment la laying down plans for rehabilitating Kwelyang, the pro- vincial capital, after the devasta- ting Japanese air bombings recently.

Mr. Wu Ting-chang, Chairman

of the Kweichow Provincial Gov- ernment, had a conference with

cussed.

terence.

Kwangtung's Agricultural Activities Reviewed

WARTIME

AGRICULTURAL ACTIVITIES OF KWANG-

of

bureau of the provincial TUNG, under the direction agriculture and forestry, were reviewed by Mr. D. Y. Lin, direc tor of the Baresu

||

Mr. Lin revealed to “Central News" that the head office of his bureau has since last October moved into the interior, but to further strengthen・・ wartime production work the bureau Suikai; Hol- has established sub-offices at Tehing, Loting, kong. Linhsien and other places throughout the province.

months approximately 3,650,000 plculs During the past four

G

The statement of the Board of Directors on the Company's ac- counts for the year ended Decem- ber 31, 1938 is as follows:

The balance at credit of Profit and Loss Account is $2,409,133.28 after allowing for Depreciation. Of this amount $600,000 has been appropriated for the payment of an Interim Dividend of $1 per share on September 8, 1938,

Your Directors recommend that Balance available for appropria- tion amounting to $1,809,133.28.be disposed of as follows:-

To pay a Pinal Dividend

of $1.50 per share on

500,000 shares

To pay & Bonus of 75 cents.

per share on 600,000 shares

To write off Investments. To pay a Jubilee Year

Bonus to Stay

To carry forward to next.

Acopunt

900,000.00

450,000.00 147,276.21

43,976.22

2877,880.85

$1,809,333.28

DIRECTORATE The Hon. Mr. M. T. Johnson re- signed his seat on leaving the

the managers of various banks on Mr. Lin has been busy travelling per year,

This population of 1,200,000 Monday when measures for re-trom one place to another super- habilitation were thoroughly dis-vising the work of these sub-people, however, have since last

offices.

October migrated Into the in- Referring to the food problem terior, and are being taken care EXCHEQUER RETURNS of Kwangtung, Mr. Lin said l-is of in the different local districts really a national problem, for with native rice, less white and LONDON, March 1 (BWB) what Kwangtung imports to make palatable but more nourishing, chequer returns show that the up for her annual deficiency con The authorities, in promoting Colony and Mr. H. V. Wilkinson, total of ordinary revenus amounts stitutes almost 70 per cent, of the the extensive use of native rice. D.8.0. was appointed to fill the to £800,165,337; against 2782,570, antire imported for the whole used to have much difficulty Juvacancy. Sir Robert Ho Tung, Kt. 464 at corresponding date of last country.

finding ways and means of tran-resigned and the Hon. Mr. T. N. year. Income tax and surtax have Mr. Lin remarked that Kwang-sporting it to Canton, but now Chau, C.BE was appointed to the yielded £920,043,000 together, against£289,170,000 a year ago, tung has been importing foreign this discuity does not exist any vacant seat and their election re- National defence contribution rice to the extent of approximate more for the migration has solved quires confirmation. In accor

ly 8,000,000 plculs per year, dis- it

dance with Article 135 The Hori which is estimated to give

Asked about the food supply in Bir Shou-son Chow, Kt. and Mr. T. £29,000,000 in the full year, stands tributed principally for the Can-

ton delta region and the Swatow the interior, Mr. Lin said that E Pearce retire and being eligible region.

at £18,220,000.

Total expenditure, less salt- balancing items and sinking funda, 18847,110,404, compared with £774.354,161, at corresponding date of 1938.

Canlon with its population et 1.200,000 people took a large pat of this and used to re- quire 10,000 plešila per day or

Kwangtung has had two bumper offer themselves for re-election crop years. There is plenty of Auditors-The Auditors, Messrs. rice storeed up in the Interior Linstead and Davis retire and be- districts of not only Kwangtung ing eligible, offer themselves for

re-election. but also Kwangst and Human

THURSDAY, MARCH 2, 1939. -PAGE 11

KIRIN

The

B

E

E

Choice of

The Multitude

H.

Tel 20720.

Sale Agents :-

HONDA &

R

CO.

40, Johnston Road, Hong Kong,

靠可用时油漆牌蛇,

PAINTS, ENAMELS.

VARNISHES & SPRAY LACQUERS

(QURABLE 4 ECONOMICAL,

MANIPICTURES OF

THE NATIONAL LACQUER & PAINT PRODUCTS CO., LTD.

KRIGS ROAD, HONG KONG, TEL 31601-8′′

品出司公限有油漆

LAMMERTS AUCTIONS

PUBLIC AUCTION.

THE

BE Undersigned have received

instructions

to sell by

PUBLIC AUCTION

"..ON

THURSDAY, the 2nd MARCH, 1929

ル

Commencing at 2.30 pm.

At their Sales Room. No. 2

Connaught Road, Central.

Ground Floor.

A QUANTITY OF VALUABLE

HOUSEHOLD FURNITURE,

Comprising:

Teakwood Hatstands, Divans, Bedsteads, Wardrobes. Dressing

Tables, Chest of Drawers, Bed Room Tables, Folding Screen, Dining Table, Chairs, Flower Stands, Desks, Typewriter+Table, Bookcases, Glass and Filing

Cabinets, Ice Chest, Rattan Fur- niture, Cabinet and Portable Gramophones, Records, Electric Table Lamps and Heaters, Bewing Machines, Rugs, Carpets and Run- ners... Porcelain, Glass. Brass, Enamel and Aluminium Ware, Cutlery, Ornaments, Cooking Store, Cooking Utensils, etc., etc.

also

SPEED

EASTWARD

FROM SEATTLE IN

"SOLID

COMFORT"

A FEW PIECES OF BLACKWOOD FURNITURE

2 Radio Sets

and

1 Radio Gramophone

1 Upright Piano "Collard, and

11 Collard"

1 Teakwood Dining Room Suite

ON THE

COMPLETELY

AIR CONDITIONED

Olympian

You'll enjoy its smaarn, gliding swiftness, over the shortest `route of longest electrification.....its kuncurious accommodations and friendly service... its sumptuous medis... its inviting beds ...the freshness of its 'air conditioned equipment.

«You'll meet discriminating travelers who prefer to travel Milwaukee...you'll thrill to magnificent scanary. Include the journey between Seattle and Chicago on The Olympian as a part of your Binerary.

for further information inquire of your nomrent steam- ship office, cry Travel Burecia, or

ERIC MARSHALL, Agent

302 Germanent 20, Veruda, BC. F. J. CALKINS, General Agić

713 Graavila 50, Yanor

L. F. LANDALL, Dit. Fawungur

St Market St, San

J. F. KAML, Aut. Gan,

0-60. B. HAYNES, Paa. Traile

THE MILWAUKEE ROAD

USE

OUR

SPECIAL

AEROMAIL

LETTER PAPER & ENVELOPE

AND

PAY LESS ON POSTAGE

Letter Paper Envelopes

$1.50 per 100 Sheets $1.75 per 100

ON SALE AT

HONGKONG DAILY PRESS

15-19,

On VIEW from WEDNESDAY, the 1st MARCH, 1930

Terms: Cash on Delivery.

LAMMERT BROS.,

AUCHONSERS.

PUBLIC AUCTION.

Tinstructions from Professor HE Undersigned have received

C., Middleton, Smith, to sell by PUBLIC AUCTION, at his re- sidence. No. 1 University Path, on

FRIDAY, the, 3rd MARCH, 1939.

Commencing at 10.30 a.m.

THE WHOLE OF HIS VALUABLE BOUSEHOLD FURNITURE

Particulars from Catalogue

On VIEW from THURSDAY, the 2nd MARCH, 1939.

Terms: Cash on Delivery,

LAMMERT BROS..

AUCTIONEIRA,

PUBLIC AUCTION.

TELE

HE Undersigned have received

instructions

to sell by

PUBLIC AUCTION

WEDNESDAY, the 8th MARCH, 1939

Commencing at 9.30 x.m.

At Kowloon Naval Depot

OLD AND SURPLUS VICTUALLING STORES

Comprising:

Clothing, including Blankets and Serge and Ducks, etc. Remnants, Electro plate, Cutlery and Tablo. Lisen

Lots may be inspected on 7th March, 1930

Terms of Bale:---As détalled in Catalogue

LAMMERT BROS.

By Appointment, Auctioneers to the Admiralty.”