1939-04-11 — Page 12

Boeing Airplane Co.

PAGE 12—HONGKONG DAILY PRESS

Finance and Commerce

P. I. MINING. INDUSTRY

Interesting 1939 .. Year Book

Those seeking any form of in- formation relating to mining in the Philippine Islands can do na better than consult the Philippine Mining Year Book, the official publication of the Chamber of Mines of the Philippine Islands, the 1938 issue of which has just reached this office. In fact, the mining industry of the Philippines

Illustrated

61

ANOTHER GOOD PAOCHI-CHENGTU

YEAR AHEAD

Philippine Mining Industry Prospects

The Philippins Mining Indus- try is headed for another re- cord-breaking year, according to Mr. J. IL Marsman, head of the extensive Marsman m'ning in arrived Interests, who. Hongkong in the President conte Coolidge yesterday, en

to San Francisco.

기

"Gold production in the Philip- over 70,000,000

and well cutite stated.

HIGHWAY

CHUNGKING, Apr. 10 (Central) -A Central News correspondent Shansi to who travelled from

sechwan found the 700-kilometre

Paochl-Chenstu

highway,

the

overland load linking the North-

western and Southwestern pro- vinces, excellently paved" and bridged. He covered the distance by motor car in five days.

Construction of the road was started in 1937 and completed in two years. The bridges along the road are strong enough to sup- port heavy trucks with a loaning capacity of seven or more tons.

BOMBAY SILVER N

Silver Duty Rate:

The Central Bank of China's

The Equalisation rate was 5 per

excellently served by this pine will be well publication. Attractively got-ap. pesos this year," the mining exe- while dividends profusely edited, the 1939 Year Book contains paid to shareholders in Philip- a wealth of Information on mining pine mining enterprises will be rate on London at 10 am, to-day the amount was 1/2-1/2d unchanged from In these Islands, comprehensive in considerably above

A number of new yesterday... detall and interesting in reports paid last year.

operations have gone into produc- and articles.

tion during the first quarter of cent.

the older

added Belgian Consul-General." who have 1939, while many of

tow managing director of Marsman mining properties

China, Ltd., And accom- Hongkong substantially to their output."

Mr. Margman, who is

left Hongkong Jast Danied by his family, is en route who, with Mrs. De Ves and their to the United States on business daughter, He will spend some time in Call week in the President Coolidge his for Manila; Mr. George C. Dank- fornia in connexion with various projects after which he werth, Mr. J. O. Enberg, and. Major continent A. Beckerleg. vice-presidents of will proceed across the

Marsman & Co., Inc. Mr. De Vos Marsman and his family left the are Mr. Robert De Vos, retired at Hongkong.

An article on the Chamber of Mines of the Philippines deserved. ly pays tribute to the "Biz Three" in the Philippine mining world Messrs. Andres Soriano, John W. Haussermann and Jan H. Mazeman -and goes on to emphasize how the institution, under the guidance of these three mining personalities, is serving the industry.

The phenomenal growth of the industry during the last five years the is interestingly revealed in next article, which speaks brightly of its future in relation to the Commonwealth. "Modern mining in the Philippines," says an intro- ductory note, "owes its existence to the creation of a vast pool of speculative money within the sugar to wars in China and industry. Spain, and to the initiative and

to New York and Europe.

Travelling with Mr.

"

steamer

NEW YORK STOCK EXCHANGE

STOCKS

determination of a small group of Adams Express businessmen, headed by an Ameri-Alleghany Steel Co. ran lawyer, a Dutch sugar chemist | AMed Stores and a Spanish industrialist.”

Allis Chalmers

description of the Baguio Amerada Corps.or

District the backbone of the Philippine Mining Industry--is ex- haustively dealt with and intensely interesting. the photographs in explanation adding to the useful- ness of the article.

QUOTATION

Amer. Can.... Amer. & Foreign Power Ameri & Foreign $7 p... 13 American Gas & Elec. Amer. Locomotive ...... Amer, Metals Co. Amer. Radiator

Thereafter, the Year Book goes amer. Rolling Mill on to give particulars of the Amer. E'ting and Ring Co. various mining intereste operating Amer, dugar: Ring In the islands, but this by no means "Amer. Tel. & Tel. concludes the splendid reading Amer. Tobacco "B" matter which the 1939 issue con- Amer. Waterworks tains and which places It on a Anaconda Copper

similar Atchison, T. & 8, Fe. par with the best of publications in the world's mining Auburn Motors ... Baltimore & Ohlo sphere.

Barber Asphalt Ce Barnsdall Of ..... Bendix Aviation Bethlehem Steel

Priced at only one peso, or one dullar (US) outside the Philip pines, the 1939 Year Book should prove invaluable to those interested in the industry.

STOCK KICHANGE

Bayers Ballura

Julen Mom THURSDAY: BİNG

APR.

- Bugere | Salburu.

Badal' | Monsinm"

Banks

FINANCE

HONGKONG SHARE QUOTATIONS

SHAREBROKERS, ASSOCIATION

#80

$720 $400

499!

11598.H.K. Banks .......................

£33

Do. (Cal. Reg.), *** fo. (Lon. Bag.)

Chartered Banks

997 Mercantile Bks. "A" £13 Marcantile. Bkz "0" Bank of East Asia ...

N. C. & 8. Backs

Insurances

Canton Insurances ....

Thou

$220

Union InPRIDA

| Underwriters

***

ཧུསཱབྷན་སཱལཾ $480

$173 1ЯE. Firms

184

Shipping

568

Douglasen

313

Steamboats

#11

800

Indo-Chines

{Prof.)

#24

92/8

Shalla

39

indo-Chinas (Def.).......

Waterboata

::

$233

lazzina- =

#

TUESDAY, APRIL 1939.

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING

HONGKONG

COMMODITY MARKET REVIEWTM

(FROM PAYNE & CO.)

"

$40

$50

$90

K9/8

Docks, Wharves,

Godowns, etc.

SPOT

$3108

H.K. & K. Wharren "

+ion

JULY-SEPT.""

36

Providenta

$4.80

OCT.-DEC.

{Providents (new)

$16

|H.E, & W. Docks... #18)

Do. (DOW)

$101) Shanghai Docks S....

8101

38.70 Now Engineerings 8.

Mining

17/8 Kain

17 6

$8

Raubs

13

23

Venezuala Gold. Fida

4 eta Hong Kong Mine

Lands, Hotels.and

Buildings

151

H.K. Hotel

#34

H.K. Landa.

....B. $33

$104 Do. 4% Debentures

Shanghal. Landa 8.

84.4 8.K. Rosition 68.66 Humphreys ....... #lut Chiuse Estates

Colton Mills

$9.80 Ewo (S.)

05 B'bal Cottons (8.) $30 Zoong Singa (8.)

Wing On Textiles (8.) Public Utilities

##

New York, April §.

SINGAPORE RUBBER

April

+

buyers

sellers

April B buyers sellers

change

27-7/8

28-1/8

27-1/4 27-1/2 of 5/8

29

28-1/4

27-1/2. 27-3/4 of 1/2

28

28-1/4

27-1/2 '27-3/4 off 1/2 :

88.45/70

$104

#

$2

SPOT

$19.80 1:07

JULY-SEPT. OCT.-DEC. $48 JAN.-MARCH

.8

The market opened 3/8 of a cent lower for all deliveries as compared with Tuesday's closing rates.

Quiet and dull conditions prevailed throughout the day thus re- sponding to advices received from London and New York. The easi-. ness on the London and New York stock-markets coupled with a re- newal of European political uncertainties was a depressing factor and caused dealers and speculators to adopt a" hesitant attitude. Also the belief, that the peak of American consumption has passed and that the outlook now is less promising, exercised a restraining in- quence on the market.

Closing tone was quiet.

LONDON. KUBBER

Previous close buyers sellers 7-15/16 8

To-day's close buyers seliers 7-15/18 8 8-1/16 4-1/r

change

unch..

8-1/B

8-1/8 8-3/18 8-1/8

81/8 · 8-1/16

xD 1/18 unch.

6-1/4

8-1/8 2-1/4

Market steady but idle.

8161

21.35

Tramways

$101

13.

**

Foak Trains (old)...

$4

Peak Trama (new)

24

APRIL 9, 1939

374 Star Ferrise

$245

·Y'mati Ferries (0)

$35

Last Bale

STOCKS

Apr. 8

6.

Int. Nickel

Last Sale Apr. 8

441

814

Do. (4)

324

28.30 $31

6.35

China Lights (

$8.30

hina Light (New).

35.40)

China Lights Best

144

Int. Tel. & Tel.

H.K. Electric

61

Johns Manville

651

8581

$581

im

Macao Elctric

28

J. & Laughlin Steel $7 pfd. 35

B1*

Handakan Lights .....

51

Kennecott Copper

281

Telephones (old) ......

3221

*

84

Libbey-Owens-Ford Glass 37

Telephones inW).....

$7.10

2

Lockheed Aircraft

242

220

22 6

Loew's Inc...

36

Tractions

Tractions [pred.)

Industrials

**/

315

Martin, Glen L

311

Caid., Macg. (Ord.) 8.

147

Monsanto Chemical

875

Cald., Macg (Fref.) S..

281

Montgomery Ward

424

11

Canton Ice

$1,30

101

at. Dairy Products

131

#13 Comenta

$13

123

Nat. Distillers ..

241

13:30

Ropes *******

$id

miscellaneous

36%

National Gypsum

101

171

National Load

187

#211

Uney Farms b. lith.

391.6.

$15

Dairy Farm Kts.

$151

150.

Nat. Power & Light

63

$6.40

[Ch. E'taṛmmenta ...

$40

76-

National Steel Corp.

60

#12

Constructions (old)

011.

NEW YORK COTTON

The market once more opened very quiet, with price ductuations extremely narrow, Later, trading was fairly active and "values" ad- vanced on an improvement in Wall Street. There was some fresh aided the market.

·buying and offers were scarce, which further There is still no defnite news from Washington regarding the Ad- ministration's crop programime. At the close, the undertone was fium, with prices reaching the highs for the session.

NEW YORK RUBBER

Early in the day, prices staged a fairly substantial advance on a quiet market. This was in sympathy with the better tone on Wall Street. The steadiness of the London market was also a helpful fac- tor. Prices continued to advance until the closing,

CHICAGO WHEAT

Prices declined on liquidation and lack of interest. Reports of beneficial rains and a lessening of the European tension were ad-„ verse factors.

ik

81

Nat Supply Corpn.

Constructions

81

211

New York Central

38

Lane Crawforda

12

1-

242

Niagara Hudson Power

Nanyang Tobacco

--

-Я

84

B

$1.40 Sincares

$1,80

23

N. American Aviation

14

Watsona

#8

Dow Jones Industrial Averages

Previous To-day'a

close

129.80

close Change

130:34

11p 54

44

North American Co.

197

60,

107

Northern Paclic

71

13:

Pacific Gas & Elec,

281

171

Pacine Lighting

41

52!

Packard Motors

.31

201

Paramount Pictures

7

Borg-Warner.

20

Pennsylvania R.R.

:འབྲ་:::

4pm

Ch. 0.5% 19250 $8ds. ELE. Govt, 4% Loans H.K. Gort, 31% Load

140

08.

1.pm

#10 + $1.0

842

HK. Wing On....

S'hat Wing On

30

Vibro Filing

13 3

Maramans liv. (Lon)

16

Ju

Marsmans Inv. (H.K.)

Wm. Powalle

Biggs M'facturing

171

Phelps-Dodge

281

10 cl.

Brooklyn-M'hattan

Trans.

7+

Phillips Petroleum

to Shangha

321

considered

CHINA CURRENCY

STABILISATION BILLCase, J.

The China (Currency Stabili- Chesapeake & Ohlo

in Chrysler Corpn.

sation) Bu, . was epmmittee, in the Home of Com-Columbia Gas & El.

Indns.

Mr. PETHICK-LAWRENCE (800), Edinburgh, E) moved an amend Commonwealth & §. (ord.) ment that the rate of Interest Cwealth & 8. 6% cum pi.

guaranteed by the Treasury, should

not exceed 27 per cent

BL JOHN SIMON said he was Continental Oil

assured that never had the Trea- Corn Products).

sury been tied down in the man- Curtiss Wright (C.)... ner suggested by this amendment. Curtiss Wright "A" They were not being careless, for Deere & Co. ́ ́.

aDistillers Corpn. Seagrams the Treasury would not pay farthing more than was necessary. Douglas Aircraft

interest. Pont de Nemours should the rate of through changed circumstances. Eagle Picher Lend

be altered.

Eaton Mfg. Co. have to

He had no reason to suppose Elec. Autolite that, we should be involved in Elet. Bond & Share

B'klyn-M'hatton $ë cum pt.

27

Public Service of NJ.

911

Canadian Pacific R'way.

31

Pullman Inc.

234

68k

Pure Of .......

71

LONDON

Celanese

14

Radio Corpn. of Am.

51

231

Republic Steel

13

561

Reynold Tobac. “B”

STOCK ́ EXCHANGE

(RELTER'S SERVICE)

N. Y. Commodity Market

(By Courtesy of Messrs. Swan, Culbertson & Frits and 8. E. Levy & Company)

New York, April 8.

Pray. To-day's

Low Close Close Change

High

36

5

Richfeld Of

London, April 8....

New York Cotton, July

7.80 closed

61

Columbia 6% "A" pi. Commersial

80

Safeway Stores

29

301

Schenley Distiligen

12

The following quotations are the middle prices at the closs ef the market in London. All"quotations are subject to confirmation

It

Schenley, 51% DIG.

69

and no responsibility is assumed for errore in transmission.

50

Bears Roebuck.........

614

Consolidated Edison Consolidated Oil

Continental Can

271

Shell Union Oil ....

111

War Loan, 31% (Red.

7

Socony-Vacuum Oil

11

33}

Southern Pactic

11

221

Southern Rly 35 pfd.

17

after 1953) Canton-Kloon Bly. 5%

1888 (Bri. Issue)......

951

57),

Sperry

372

Chinese 41% Gold Loan 681

42

Standard Brands »

6

201

Stand Gas & Elec.

21

161

Standard Oll of California.

28

16

Standard Oil of NJ.

43

501

Stone & Webster

31

Chinese 5% Gold Bonds,

1925-47

............65

Chin. 41% Angio-French

Loun, 1908

Chinase 5% Crisp Loan,

"st

1291

Swift International

28

1912

71

Technicolor

151

Chinese 5% Rearg. Loan,

171

Texas Corpn.

35

1913 (Ldn. 1)

241

Texes Gulf Sulphur

27

.61

Trans-America Co.

5+

any payment, a no

the world made a greater effort Elec. Bond & Share $6 pf. to deserve the reputation of be-Elec. Power & Light $7 pt. ing an hquest bargainer than Flintkote

country Elec. Bond & Share $5 pf.

20th Cent, Fox

171.

601

20th Cent. Fox. $1j pf.

29

321

Union Carbide & Carbon

65h.

182

Union Facile .......

22.*

40

321

United Corph.

iGen. Motor

-

371

Gen. Railway Signal

14

United Gas Corpn.

"CASE_OF CZECHS

lolidden Co. ....

15

third Goodrich (B.F.)

141

UB. Rubber

54

US., Rubber $8 pid,

24

US Steel

124

Vanadium

167

Warner Bros. Pict.

241

Westinghouse; ziec.

15||

Woodward Iron Cor...

9

624

National City Bank:

∙174

:

481

*—bid.

t-ex dly,

1939

China.

The amendment Was

Food Machinery Corp. defeated Gen. American Tranz......

by 72 to 33, and the Committee Gen. Electric

stage was concluded.

On the motion for the

reading.

Goodrich $5 pl. Goodyear Tire & Co.,

MY, BELLENGER (Soc., Basset Great Northern Iron Ore

to law), speaking with reference

Great Northern Rly, pid.

China turning obligations, call-Great Western Sugar ed attention to what had happen Greyhound Corpn. ed in the case of Czechoslovakia. Hecker Products ......... who would probably have to re-Homestake Mining pudiate all her loans,

in

Industrial Rayon

Bir JOHN SIMON replied that International Harvester the remark, be made about China meeting her obligations WAS respect of the guarantee of the payment of interest. Whether or not we should be called upon on the main summust necessarily be determined according to whe ther the fund did or did not suc- ceed in maining Chinese currency The effort was well worth making

DOW JONES AVERAGE

High" Low Dow Jones Averages, Apr. 6.

15LAS 188.3520 Endlustriale:

24.33 95.7630 Ralle, F 14.59 21.57 80 Etilities. -99.32 88,16:40 Ronds

Apr. 9, 1932,

High Low Close Chanum 190.38 19451 181:01-191.44 LAS DIE *25.76 497 31.882414 1.69 off 31.67. 91.23 20.54217184 off 88.15 87,40 74 off

Businew Dane1,040,000 shares

49,12 45.59-11 Commodity Index 47.09-03

Shai-Ning Fly. 5%..... Tientsin-Pukow Rly. 5%

(Brit. 8tpd.)

Tientsin-Pukow Rly. 5%.

(German Stpd.) Mentsin-Pukow Rly 5%

(Brit. Stpi Bupl Loan); 17 Tientain-Pikow Rly, 6%

"Ger. Stpd, Supt Loan) 17' Jap. 5% Bler Loan, 1907 371 Jap. 6% Bter. Loan, 1924 431 Ger. 7% Int Loan, 1924 347 Chartered Bank

H.K, & Sha Baik (Lin

HK. & Bhát Bank (Col

Beg.) ikäerz Chinese Eng & Mining

(beater) 200 Chosen Corporation Pekin Bynd

Pressed Steel, com.

Vickers, ord,

251

United Aircraft ....................

341

Chinese 5% 8ter. Notes:

-1925 (Vickers)

Chin, Imperial Rly. 5%

Loan

Honan Rly. 5%-

22

Hukuang Rly. 5%, 1911... 221 Hukuang Rly. 5%, 1911

United Airlines Trans,

81

(Cerman Issue).

21

Lung Tsing & D. Hai Rly.

United Corpn. $3 cum D

301

5%

12

United Gas Improvement

11

329

* ** * * * 2 2 pað 7 58 5

New York Rubber, May New York Hides, June Chicago Wheat, May Corn. May Wnnipeg - Wheat, May

Chicago £ 301*

Union Insurance Gula Kalampong Rubber 17/61.

18.12 closed

10.30 closed

ᏫᎭ . 681 88

801 11 up

481

471

+47

614

601 60

43 + up 614 11 up

191

Allled Ironfounders ....... 18/6 Asso. & Elec. Industries 30/3

31/10 Austin Motors, ord. ... Cable & Wireless, New

Form, ord.

NEW YORK COTTON

Close Opening

Closing

Change

43

May July

7.98/98

7.80/80

Bird. Tob. (bearer)

95/7

October

7.51/51

Cammell Laird, ord...

December

7.45/45

Mexican Eagle

6/9

January

7.45. N

| Courtaulds

24/7

March

7,51 N

Distillers

90

Spot

8.73 N

511

Dunlop Rubber

25/101

NEW YORK ZUBBER

| Gen. Electric (England) 77/3/4/

Guinness (A), Son & Co. · 101

Hawker Siddeley Airc........ 29/101 Bristol Aeroplane. 21/43) imperial Chemical Ind 28/31 Imperial Tobacco.

May September December March

18.10/12

15.10/11

CLOSED

18.10/12

18,12 N

#130/71

201

Marks & Sp'cer "A" ord. 57/75 Rolls Royce

CHICAGO WHEAT

105

Leyland Motors Tate & Lyle

May

671/88

681/681

"691/69).

87/8

July

87/071

673/671

881/681

קט

59/6

Turner & Newall

September

612/871

69/004

73/8

United Steel

23/6

Thursday's Sales

,000 bushels,

Smethwick Drop Forg........ 15/0:

CHICAGO CORN

687

Armstrong Stevens, ord. 7/6.

451

161

41

Woolworths

84

Anglo-Dutch

151

Chase National Bank

283*

214*

18/44

May 21/34 July 50/6 mar 24/8 Rub Plant. Invest. Trust 26/31 Burma Corporation 8/3 Commonwealth Mining. 1/17 Maraman Investments... 13/3: Randfontein Estates Western Holdings Sub-Nigel

472/471

September

·471/477 494/492 437/487 492/493 504/504 WINNIPEG WHEAT

48/48

/472/498.

50%/50%

BER

May *July

60/60

001/003

01/01)

601/60%

614/813

621/621

14/ up

October

∙61+/61+

៩៩៖

35/3

8/9

EW YORK HIDES; (New Contracts)

218/9

June

10.25/30

CLOSED

18

Tanami Gold Mining. Anglo-Iranian Burman

B3/11

September

10.60/73

79/41

NY, Silver, Oficial

42-3/420

NY-London Cross Rate 168-178

unquoted 468-1/8

Shell Trans

Trad

81/201

NEW YORK-STRAITS TIN

48.10 N

CLOSED