1939-03-27 — Page 13

HÙNGKONG DAILY PRESS

BANKS

HONGKONG AND

SHANGHAI BANKING

CORPORATION

Authorised Capital 850,000,000

THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA

Issued & Fully Paid-Up 80,000,000 Incorporated by Royal Charter, 1855 £3,000,000 £3,000,000

Beserve Funds:

Sterling

£8,500,000 Paid-up Capital- H.K. Currency Reserve $10,000,00 Reserve Fund Reserve Liability of

Reserve Liability of Pro- ..$20,000,000

prietors...............£3,000,000 Head Office:-HONG KONG

Proprietors

Board of Directors. Hon. Mr. A. L. Shields,

W, H. Lock, Esq.,

Chairman.

Deputy Chairman.

J. K. Bousfield, Esq.. A H. Compton, Esq., Hon. Mr. 8. H. Dodwell,

D. P. Landale, Esq.,

G. Miskio, Esq.,

K. S. Morrison, Esq.,

Hon. Mr. T. E. Pearce,

E. V. Wilkinson, Esq.,

Sir Vandeleur M. Grayburn,

HEAD OFFICE; LONDON: S8, Bishopsgate E.C.2. Sub-Agencies in London: 117/122, Leadenhall Street, BC.3. West End Branch: 14/18. Cockspur Street, S.W.1. Manchester Branch:

71. Mosley Street, Manchester,

'AGENCIES AND BRANCHES:

ALOR STAR" HARBIN

PENANG HONG KONG RANGOON ILOILO

BAIGON

trox

ANBITHAR

BANGKOK

BATAVIA

BOMBAY !

CALCUTTA Chief Manager.

KARACHI ELANG

AGENCIES: KOBI

Cut Str

Fathur PLACE KUALA

CANTON

Amoy

Branches:- Ipoh

Penang

Bangkok

Johore

Hatavia

Kobe

Rangoon Saigon

CAWNPORE

CERU

Bumbay Calcutta

Kowloon San

Kuala

Francisco

COLOMIO DELHI

London

Canton Chefoo

Colombo

Lumpur Shanghai

Singapore

Lyons Sourabaya Dairen Malacca Sungei Foochow Manila Patani Haiphong Muar Swatow Hamburg (Johore) Tientsin. Hankow Mukden Tokyo Harbin Hongkew Iloilo

Current

New York Tsingtao Peiping Yokohama

Accounts

opened

Local Currency and Fixed Deposit received for one year or shorter periods in Local and other Cur- reneles on terms which will be quoted on application.

י

HAIPHONG KAMBURG

HANKOW

LUMPUR

KUCHINGTM

MADRAS

MATILA

MEDAN

NEW YORK PEIPINO

(Peking)

SEEINHAR SHANGHAI SINGAPOR BITIAWAN BOU RABATA TAIPING TUENTSIN TONGEAN ·

(Bhukos) TSINGTAO YOKOHAMA

FOREIGN EXCHANGE and General' Banking Business transacted.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods in Local or Other Currencies at rates which will be quoted on application.

SAVINGS ACCOUNT also opened in Local Currency and Sterling with interest allowed at rates obtainable on application.

SHARE MARKET

REVIEW

BY C. A. L. RICKETT- Secretary, Hongkong Share="

brokers' Association

Saturday, March "25.

FINANCE

Government Notes Still Circulate

During the week the market was Value Much Higher Thau

| inclined to react to the increasing gravity of afairs. In Europe and a

F.R.B. Notes"

<

REYNOLDS &

GIBSON

RUBBER

LONDON.—Our market has re-

mained remarkably steady through the week, but business has ruled on the quiet side. A good demand for near shipments on c.lf. terms persists, and in addition sales of forward position's covering not

feeling of anxiety was made mant- Although the legal tender" notes rest by an increase in the number issued by Chinese Government of selling orders. Selling, however, banks have been prohibited in was not by any means general, and several big cities in North China only the balance of this year, but investors had the opportunity they are still being circulated also the whole of 1940, have been quietly select their stocks at more in those cities and their value is made. Manufacturers, however, attractive looking prices. Most much higher than the new notes do not appear disposed to buy shares offering were absorbed at issued by the provisional regime in other than on a hand-to-mouth lower price levels, and at the close

Peiping. according to Chinese basis. of business to-day a better feeling

reports. Is indicated by a slight hardening Despite the new order forbidding customary

Shipments for February from the

Centres of of prices. In common with world circulation the legal tender notes ste:-

productions markets there has been a feeling are widely used and people like to

Feb. JAD Dec

1939 of uncertainty resulting in a de-

1939 1938 preserve them.

tonk crease in the volume of business

tons tons 43,497 43.332–33,901 5.323 7.123 3,070

over that recorded for the previous

week

Trams were

HK. Banks changed hands at $1,385 to $1,350 and Union Insure and shares receded to $460. K. Docks lost $1 with business reported at $17.50 (cub. div.); done at $18 but later hac buyers at $16.15. China Lights (0) were easier and came to business at $8.10 and the new shares at $5.25 Electrics were wanted at $55.50 and Hotels at $5.60 after changing hands at $5.50 Wharves were offer- ing at $112 after deduction of $7 dividend.

sional regime notes, people in the Being unable to reject the provi-

north use them soon after recely- ing them. The "federal notes" as the new notes are called circulated In the north represent a face value of $185,000,000 but the legal tender notes circulated in the same area amount to $335,000,000, it is stated.

OFFICIALLY REJECTED The legal tender notes oficially rejected by the new regime in Feiping are accepted by Chinese banks in Shanghai, which do not accept the "federal notes."

lase

Money in Chinese Government banknotes remitted to the north The Manila market has shared through Shanghal banka will not in the prevailing feeling of uncer-

value because the receiver tainty. After small fluctuation obtain the same currency in prices at the close show very little the north. Persons remitting money change over those ruling at the pre- to Shanghai must use legal tender vious week's close, Benguet Con- notes, however. solidated after deduction of 30

of 30 ctvs. to Ps. 12.70. Antamoks

to 41 ctvs.

Ceylon Malays

แ

די

*metric metric metric

bons *tons tons

.7,010 1,938

4.842 8,997 11,014

13,920 18,004 8,777 D.EX, Native, Outer

Possessions.... 11,492' 21,248

D.E.I. Estate, Java 4,923 D.EL. Estate, Outer Possessions...

25,412 39,272 10,809:

Motor venicle production in the USA in 1938 was 2,490,000° units compared with 4,809,000 in 1937, It is considered that this low figure for last year will be much im- proved upon during the current year, although it is not expected for 1935/37 will be attained. Ac- that the average of 4,400,000 unita-

counts from the British motor in-

dustry read quite optimistically

ctvs, dividend registered a decline French Governments have lodged with one company working at fall The British, American and

protesta with the Japanese capacity. At the end of last after easing to 38 ctys, recovered authorities against the haps came in for most attention which is said to have affected their licences had been issued for 2292-

United Patacale per-currency

new month, according to the Society o policy in the north Motor Manufacturers and Traders,

and after easing to 68 cts. re- in

803 vehicles against 2,144.583 for covered to. 73 ctvs., a loss of 2 ctvs.

the same period last year, over the opening price at the be- ginning of the week. Market closed steady.

The Bank's Head Office London undertakes Executor and Trustee business, and claims. Te Also up to date Safe Depos|covery of British Income Tax overpaid, on terms which may be ascertained at any of the Agencies and Branches.

R. A. CAMIDGE,

Boxes in various sizes To Let. Hong Kong, 13th Mar. 1939.

HONGKONG SAVINGS

BANK

The Business of the above Bank

is conducted by the HONG KONG

& SHANGHAI BANKING COR- PORATION.

Rules may be ob

tained on application.

For the HONG KONG & SHANGHAI Banking ConPORATION.

Manager.

The following dividends have been announced.......

15.

Antamoles: 1 ctv. "payable April

Atoka: 2 ctvs. payable April 3, United Paracale: 2 etvs. payable April 4.

I. X. L: 2 ctvs. payable April 15. Big Wedge: 1 ctv, payable April

THE CHASE BANK

10.

"

"

15, QUEEN'S ROAD. CENTRAL

Chief Manager.

18, PINE STREET,

*NEW YORK.

H. K. STOCK EXCHANGE

V. M. Grayburn,

Hong Kong, 25th Feb., 1839.

BANK OF EAST ASIA, LIMITED

Authorized Capital ....$10,000,000.00 Paid-up Capital ........

5,598,800.00 Reserve and Undivided

Profita.....

.................!-- 2,881,832.01

Head Office:-HONG KONG

No. 10 Des Voeux Road, Central.

Board of Directors: #0

Bir Sheuson Chow, Chairman

-Li Koon Chung Esq. “Li Lan Baug, Esq. P. K. Kwok, Esq. WongChuson, Esq, Wong Yan Tong, Esq. Kan Ying Po, Esq. ChanChingShek,Eaq. FungfingWah Esq.

Kan Tong Po, Esq., Chief Manager. Li Tas Foog, Esq., Manager.

Ampy

Batavia

Baby Delenita

Helphong

Branches and Agencies :—

Kowloon Penang → Singapore London Bangoes Sourabaya

Bwntow Melbourne San Fran- Sydney Nagaka

cisco Benbaa Saattia. Vancouver Bearing Priping Shake

Bankow

Honolalu Kobe

New York Paris

Every description of Banking and Exchange business transacted. Loans granted - 00 approved securities.

HEAD OFFICE:

Az American Bank offering com- plate Foreign Banking Service in the principal Markets of the world. Interest Rates on Application.

SAFE DEPOSIT BOXES

This Bank is entirely owned by

"

THE CHAR NATIONAL BANK NEW YORK, with Resources over U.S. $2,500,000,000..

D. M. BIGGAR,

Monager.

British. Firm Big Gets

Contract

Messrs. Innisa & Riddle (China) Ltd., the British Thomson-Houston Current Accounts opened in Local Co. Ltd., China agents, stated that Currency and Fixed Deposite re-an order valued at £70,000 has just caived for one year or shorter been placed by the Kallan Mining periods in Local and Foreign Cur: Administration for two 3,000 Ji.p.. rencies on terms which will be British Thomson-Houston Co. Ltd., quoted on application.

Safe Deposit Born To Let

KAN TONG PO,

Chief. Manager,

BANK OF CHINA

Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE,

electrically operated, cosi,,winding equipments...

One of these will be installed at 1 No. 4 shaft Linel and will "be" capable of raising 399 tons of coal per hour from a depth of -354 metres. The other equipment, is for: an output of 220 tons of coal per hour from a depth of 648' metres and will be installed at No. 3 shaft Tongshan.

SPECIALISED BRANCH

These installations will embody all the latest developments and

PAID-UP CAPITAL $40,000,000,00 (BRANCHEB ALL OVER CHINA)

Owing to our numerous Branches in China and connections in the principal Commercial Centres refinements in this specialised the World, we are able to extend branch of engineering. They will to our Clients special facilities for be of the bicylindro conical drum Domestic and Foreign: Banking and

Ward

· ́Leonard"- equalised" type Exchange.

incorporating automatic electric devices whereby the peak loads, | are smoothed out and the maximum possible eficiency and safety are achieved. They will be the largest Installations of the kind in the Far East:

Head Office: BHANGHAI Hong Kong Branch:

4, QUEEN'S ROAD, 0. South China Ofices: 1.

KONGMOON TOISHAN

CANTON SWATOW

SHIUCHOWKINGCHOW... We also ;' handle « the "issue" Bonda and other Public Funds of the Chinese Government both at Home and Abroad

SHOD J. CHEN

Mesara. Inniss & Riddle. (China), Ltd, last month but into successful operation somewhat similar but smaller equipment at the minies of the Mentoukno Coal Mining Co., near, Pelping.

Saturday, Mar. 25.

trade.

Shipping in North China is said to have been completely mono- polized by the Japanese and Japan ranks the arst in both export and import trade in all ports in the north.

A systematic control of the main Chinese products such as leather, beans and cotton hag been effected

AMENDMENTS TO POSTAGE RATES

Gazette"

view of this commodity and en

Altogether, we take a favourable adder that decreasing shipment with expanding absorption should. make for better prices durmy the next few months,

Movements of Rubber in Landón and Liverpool for week ending March 11, 1939:—London-Landed 797 tons Delivered 1,343 tons; Stock 47.442 tons; same. time last year 48,197 tons; Liverpool Landed ́588' tons Delivered 1,009 tons; Stock 28,068 tons; same time last year. 24,806 tons.

NEW YORK-Prices have re- mained almost unchanged.' from day to day, and cables coming for- Ward from New York have record- ed practically featureless markets. There has been a certain amount of Eastern selling of distant dell-

The "Government notifies that the Governor in Council makes the following fur- During the morning HK. Banks ther amendments to the rates of changed hands at $1380 advancing postage in Class A-Letters and to $1390 business doce. Unions were Postcards published as G. N. 657 in traded in at $470. China Providents the Gazette of August. 26. 1938, made $5.70 and a small lot of Gov-with effect from March 24, 1939: veries, but this was readily ab- erriment 4 per cent Loan was placed

at 4 per cent premium, Sandakan | Lights at $12, and Yaumati Ferries

(Old Issue) at $244.

BUYERS Hongkong Bank, $1375, Union Insurance, $470. Douglases $881. FLK: Docks (Old), $171. Providents (Old), $5)..... H.& 8. Hotels, $5.55. H.K. Tramways, $16).. HK. Electrics, $55), Sandakan Lights, $114. Cements, $134.." Canton Ices, 31 H.K. Ropes, 34. Entertainments, $6.

HK. Goyt, 4% Loan 4% Prem H.K Gort. 31% Loan. par. Dairy Farms Eta, $154..

SELLERS

Union Insurance, $475. H.K. Steamboats, $14. HK Lands, $36. Dairy Farms C. Ets/ $24.

SALES Hongkong Bank, $1380/90; Union Insurance : $470; · Providents (OM), $5.70. HK. Tramways, $161;- Yaunati Ferries: (Old),, #243... Sandakan Lights, $12. HK, Govt. 4% Loan.4% prem/ Maraman's (H.K.); 5/-- Dairy Farms Rts, $155

PHILIPPINE MINING. QUOTATIONS - Antamoks PB 43

"

1.

AMENDMENTS

The following · additional rate; numbers are inserted, under the| |heading. Inclusive Rates by Im

perial Airways Air Mail Services after Rate No. 30 and the follow- ng corresponding · additions are made to the note at the end of the Class A rates:-

Rate No. 31 Foreign

destinations in Africa

sorbed by consumers and specula- tors: Transactions 6,115 tons."

LABOUR

TROUBLE

AT NEW YORK'S

and in the Near East $1.00 $0.50 WORLD FAIR

Rate No: 32. Foreign destinations via› Ans- tralia

Rate No. 33-Portuguese- India and Afghanis

tan

$0.75 $0.40 Second Column

First Column Foreign. destinations in Africa and in the Near Easte

Foreign

...Alexandria

destinations

via Australla Portuguese India and

Afghanistan

M Maurice Garreau Domkasle, $1.00 30.50 France's Commissioner at the New. York World's Fair, stated recently that the oppositing, of the American unions to the employment of French workers would almost certainly prevent his country's £800,000 pavilion from being com- pleted before the exhibition opens | on April 30, writes the "Daily Tele- graph" New York correspondent. "I have been fighting this trouble for a whole month," he declared. "About a dozen French workmen already here have not been allowed to touch a tool, and we had to delay bringing over hers needed for speciál plaster and cabinet work which cannot be done by Americans.

Australia

British India

Atoks Ps, 36 ex-dly. Baguio Gold Ps.-23 Benguet Consolidated Ps., 12,70 Coco Grove Pal ‚424'....... Consolidated Mines Ps, .003 Demonstrations Pa.,-,15 IXL. Ps., .62 Paracale Gumitaus (Pa.,^ .177- Ban Mauricio Ps. 2.00 Bujoc Ps 19

United Particale Ps., 72.

HONGKONG SHAREBROKERS”

ASSOCIATION

VOLUME OF BUSINESS TRANSACTED FOR WEEK" ENDING

MARCH 24, 1939–22

STOCK Hongkong Banka ". Union Ins. H.K. Docks (cum, div:)) Trams .......

No. of Shares

201

10

1.100

3,000)

Yaumati Ferries (0)

100

PRICE* $1,385.00 to $1,350,00

460.00 £

18.50 to 16.25 to +25,00****

17.50

18,00

Yaumati Ferries. (N)

(100%

$24.004

China Lights (Old)) China Lights (New) Entertainmenta Electrics AH Hotels. Providents United Antar

5,832

8.70 to

8.10

2,544

5,50

1,700

7.10

100

35.50

3,300

5.30

1,500 30,000

5.45

Masbate Ttogors

8,000 2,000 4,000

"The only "men" we have imported are, spécialisï's,' but it la pasential to us to have them to produce an exhibit that "is truly representative of France. As a result or thredé delays WORK Ń! is far behind · schedule.”

Similar dificulties have been encountered by Rumania, which brought about a dozen“ -skilled labourers to the United States to pasist in the execution of its plans for a pavilion designed by Prince George Cantacuzeno. This involved the use of marble and álábaster,

OFFICIAL VERSION

Fair omčiais, walle admitting that bi American workers staged

at down strike as a protest against 6.25 the presence of French workmen. engaged in France's "zubeldiary exhibit in the Hall of Nations, made light of them diffletiltiés, ↑ 5.60 -5.604] It was eyen kiggested in soms Ps0,70 ||| quarters that they are being used Para an excuse for "failure to get certain forefani pavilions in hed before the opening

MONDAY, MARCH 27, 1939. -PAGE 13

PRESIDENT LINER

Sailings

FOR SAN FRANCISCO & LOS ANGELES

Apr. 9lat at 500 AM.

VIR SHANGHAI, Kona, Yokohama and HONOLULU 98. "PRESIDENT COOLIDGE" Saila Apr. 10th að 8.00 AIM. 88'" PRESIDENT TAFT * S8. PRESIDENT CLEVELAND " S&" PRESIDENT PIERCE". « 88." PRESIDENT. COOLIDGE"-

AND FORTNIGHTLY THEREAFTER

1

May 5th at 8.00 A.M.

May 19th at 600 &M.

+1

June 3rd at 12 Noor

FOR NEW YORK & BOSTON via SUEZ

8.S.* PRESIDENT MONROE" Sails Mar. 19th at 9.00 PM. "S.8." PRESIDENT ADAMS"

Apr 14th at 19 Noor AND FORTNIGHTLY THERSAJTER

31

FOR MANILA

Sails Apr. 3rd st

S.8. "PRESIDENT COOLIDGE”

88. "PRESIDENT TAFT" 8.S. "PRESIDENT ADAMS* 38. "PRESIDENT CLEVELAND *

11

Apr. 14th at 1.00. AM. Apr. 14th at 18 Noom/ Apr. 98th at 1.00 AM,

AMERICAN PRESIDENT LINES

ROUND WORLD SERVICES

12, PROVER ST.

THE

"HIRAM"

TEL. 28171.

CHINA SIAM-

HONG KUNG BANGKOK

LINE

leaving Hong Kong th Mirch via Swałow

HỒNG KONG SWATOW AMOY mx. “HAI LEE?" leaving Hong Kong 2nd April Accepting Passengers & Cargo for all the above metioned ports:

4 HONG KONG-SINGAPORK—PENANG-RANGOON

Regular Express Service

ELS. "HAI LEE"

R

leaving Hong Kong 8th April

Accepting cargo for all the above mentioned põrts

Excellent poenger accommodation available. For freight, passage rates and all other information-Apply to

THORESEN & CO., LTD.

Tel. 30237

General Agents..

Queen's Building.

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“NOW

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As for Sanatogen, it can never be beaten, it is just like drinking magic, and those who

have had a nervous breakdown, like myself, please tell them to try Sanatogen. I can eat, sleep- and enjoy life now. It is life, and life is wonderful when there is health, and there is health in every bottle of Sanatogen,"

writes an enthusiastic Sanatogen user.

Take a course of Sanatogen and enjoy Youth and Health again Headache, nervousness anaema, "and fatigue after a full day's work will soon disappear, for Sanatogen gives your body and nerves the strength they need.

SANATOGEN strengthens and soothes the nerves and revitalises the blood. Buy a Bortle at once. You will soon"" enjoy work and leisure and not only feel young but look young too

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Tonic