1939-04-18 — Page 11

HONGKONG DAILY PRESS

Finance and Commerce

CHINA COLLECTS GOLD TO ENSURE ECONOMIC

VICTORY

SEA

CHUNGKING, April 77 (Centrul)-Ever since the war. started, China has been collecting gold to ensure herself of an economie victory over Japan, The Government has been increasing the gold stock in two ways; gold-redemption and gold-mkaing. The former task is in the hands of the Ministry of Finance and the latter of the Ministry of Economics..

No stone is left unturned by the co-operates with the gold-producing Ministry of Finance to redeem roli i provinces in administrative and coinage, Jewelry, gilded articles, technical matters. On the othe: and bullions. Under its direction a hand, another iger.cy of the Four-Bank Gold and Sver Re-Ministry, the National Resources demption Office has been esta Commission, has concerned itself blished at Chungking by the Cen-with prospecting and working the tral Bank of China, the Bank of gold bearing fields, China, the Bank of Commuznica- tions and the Farmers' Bank of China,

1

All the branches and sub-bran- ches of the four 'Government banks are entrusted with the job of re- deeming and collecting gold and silver, particularly the former, from the populace in their respective localities.

The collection of the Chung king branch of the Central Bank up to last January reach- ed 13,000 nz. Ir this record is kept up, it is expected that 80,000 oz, will have been taken in by nexi June.

.1

Added to the collections of, the three other Government tranks, the figure may reach 200,000 oz. And if one takes into consideratiory also the redemption by the commercial banks a yield of 300,000 oz. is ex- pected. For instance, the Mel Foong Bank and the Szechwan-Sikeng Bank in Chungking once; sold around 20,000 oz. of gold to the Four-Bank Offärs'

AVERAGE TAKE"

cl

Thus is confined to Chungking alone. But when one takes into account the average "take" of

10,000

NOTABLE ACHIEVEMENTS

RURAL TRAINING SCHOOL

|CONSTANT CONTACT "WITH FARMERS

Its notable achievemente include: 11 The establishment of an Office of Gold Mines in Sikong, China's westernmost frontier province, last winter to tap the gold-bearing ter- tory of the entire province for which work has already been

The opening of a Gold- Prospecting Omice in 1937 in the province "of Chinghai (Kokanor) northeast of Tibet which extends south to Szechwan province:

(3) The opening of an office at Sungpar in the wild mountains of northwestern Szechwan where

ere abun dant gold fields are found and where the

purest specimens of native gold have yielded 99 per cent of the pure metal (the

he average California gold contains 38 per cent. while Auswa 1:an

Rold sometimes runa na high as

metal): per (4) pure

The maintenance of

of prospec- tors along the Hupeh-Bonan border in Central Chin between the Yang tre and the Yellow Rivers, which is considered as the most hopeful gold- producer: and..

06

15) The commencement of gold production in Kwangsi and Runan Provinces.

NO EXACT DATA There is yet no exact data con-

cerring the amount of gold output

CHUNGKING, April 17 (Cen-> tral)- The mass Education Movement Association; headed by Dr. James F.C. Yen, is now bustly mapping out plans for the establishment of a special technical school to be known FL3 the National Institute of Rural Reconstruction.

The projected institute will be established in a small town near Chungking so that the students may have constant contact with the farmers for whose welfare their studies will be primarily con- cerned, The initial fund for establishing the school has been at $300,000. while the in- stitute's annual expenditure will be around $200,000. The Associa- tion's supporters in China and abroad are raising these funds.

set

The institute will consist of Ave main departments on local govern- ment, rural education, agricultural economics, agriculture and public health, Later a department "on animal husbandry and veterinary science may also be opened.

The school is expected to be in. augurated in September. Only gra- duates from sentor middle schools will be enrolled.

RESEARCH WORK".

The students will spend their first three years. In research work. Character-building will be empha- sized as later they will be required. to serve in various administrative

capacities for pushing the program-

in this immense arca of gold-bear-me of rutal reconstruction in China, ing territory, but a member of the Field work will occupy the fourth per month by the National Resources branches and sub-branches of the places the monthly production at

Commission year of training. four Government Banks in the res1.000 oz. and says that an annual pective provinces of Klangsu, output of 15,000 or. is possible. Cheklang Fuklen, Slkong, and Shensi, the gold yield of the entire country may come up to 100,000 oz.

institute, a special group of techni

As a forerunner to the projectëd

cal experts was sent by the Associa- Meanwhile, miniature rushes" have been reported from investigation tour throughout the "gold tion

in September; 1938, on an

parts many

of the specially in Szechwan and Bikong Chektang, Kwangst, Kweichow and country, provinces of Hunan. Klangs! in West China. For instance, the Szechwan. people residing along the Kialing River in Szechwan and the Golden

every 30 days. By the end of next June, there will be 600.000 oz. And add this to the 300.000 oz expected of Chungking, there will be a total

The Investigation tour will be of 900,000 oz. in mild-year.

Sand River in Sikong have taken completed by the end of April. The While the Ministry of Finance was bustly calling in gold from the gold-washing as their important findings of the experts will be used people, the Ministry of Economicsy-occupation. Above Chungking, as teaching material for the Na-

has been energetically engaged in gold-mining operations during the past year. Under the Ministery is the Bureau of Gold Mines which

$600 MILLION MILITARY LOAN

To Be Issued In Bearer Bonds

CHUNGKING, April 17 (Cen-' flotation of A tral The

Military $600,000,000

Loan Govern. was announced in a

April 14. ment Mandate on

of the. loan will be used for milkary, ex-

penses.

-The proceeds

con-

regulations, A set of sisting of ten articles, Was

the released relating to loan, which is to be known

25

the Loan.

ден

་་

Year Military 28th

particularly, more and more "pros- pectors" with "gold pans are acen wading knee-deep in the upper

reaches of the Yangtze, and in the Min and Tuo Rivers catching the ores which carry native gold.

It is said that in the hand opera- tions each prospector may get from

clonal Institute of Rural Recon- struction and as a basis for a sei of recommendations for local gor- rnment reforms in the different localities visited.

*

2 to 4 oz. of pure metal each day, H.K. EATING

and that the average monthly in-

come for each prospector ranges PLACES PROSPERİ

from $50 to $80,

ENCOURAGING NEWS

A metallurgist calculates that by attacking the shallow, rich and easily-worked surface deposits of (sarids and gravels by the simple process of washing and by Govern- ment mining. Szechwan alone may (yield 300,000 qr of gold for the

State,

This is encouraging news, for 300,000 oz. of gold may, it is said, back up the sue of $144,000,000 worth paper currency.

!!

CURRENCY CONTROL IN DANZIG

Kim Returns To Baguio

Mr. Chan Kim, propt'etor of City Lunch and Pines Sales Company, returned to Bagulo from Hongkong. where he met members of his family who were coming to the Philippines to join him.

He told the Bagulo Bulletin that restaurants and hotels in Hong- kong are doing good business, but importers and exporters are suffer- 'ng from the effect of the Sino- Japanese war.

.4

Refugees from China flock to Hongkong, Mr. Kim said. The poor

The total amount of the loan "DANZIG, April 17 (T/Ocean)--A refugees are kept together in rail- is nixed at $600,000,000, which will financial decree issued by the road coaches in Kowloon where be issued. In two equal fastal-Danzig Senate provides that all they are taken care of by British ments, on June 1. 1939, and inland concerns, Danzig branches and Chinese charitable institutions. November 1, 1939. The bonds will of foreign companies and inland Many of the well-do Chinese re- be issued at their net price. In-industries ΟΙ business houses fugees practicnilly live in hotels and terest on the loan is given at alcuned by foreigners, by April 17. restaurants. thus increasing their per cent. per annum to be paid must offer their holdings of foreign business. semi-annually.

exchange in Danzig and abroad to

-

In the frat two years follow-the Danzig Bank, for exchange into ing the flotation the bonds, Danzig Gulden. only payment of Interest, but no

of

Hongkong is crowded but peace

tul, he said. People in Hongkong do not seem to feel the war going

All accounts in foreign curren: on outside of the city limits with repayment of principal," will be cles held by Danzig banks will be the exception of the time when made. Bonds will be drawn, how-automatically changed into Danzig the Japanese aviators showered part ever, beginning November 30, 1942. Gulden, exception being made only of the city with bombs and scared. semi-annually, for the amortiza-in respect to Reichsmarks and so many people. tion of the loan according to the Polla Zlotys.

Mr. Kim left for Hongkong on amortization tablet

The decree provides only for the s. s. Tinegara on Mar. 5 and The loan will be fully amortized single exchange will not apply to returned on the same ship from within #4 period of twenty-five future holdings and deposits made Hongkong. After a brief stay in years, the last payment being in foreign currencies to accounts Manila he returned with his family made on September 30, 1968.

of Danzig firmë and private persons to Baguio. The loan will be secured on pro- after. April 17,

With Mr. Kim were his wife, his ceeds from consolidated and ciga- The decree differs in this respect children, Fong, Hoy and Tah: He rette and wine taxes. Payments from the same law in, the Reich, said that he brought his family and to the sinking fund will be made which requires that all foreign ex- children to the Islands so that by the Ministry of Finance to the change be offered to the Reichs-they could be educated in Manila, Central Bank of China from, time bank. "...

to time and any deficiency will be In explanation of this decree, it

made up by the National Treats stated that Danzig Arms and in-Messra. Davy and United En- sary.

diwdumis have hoarded foreigngineering Company, Limited. Park The Central Bank of China and exchange for years and the present Iron Works, Shemeld, have re- its agent banks shall be the ser-ncasure la designed to bring about ceived an order fromé Mesars, vicing banks of the loan.

an equal distribution of the risk John Lysaght, Limited, Orb Iran bearer and thus to strengthen the Danzig Works, Newport, Mon, for m $1.000 Gulden. Trade and transit com- sein. four-high, cold-rolling mill

merce will not be affected,

for steel and strip.

The Joan is issued. In bonds of $10,000, * ́$5,000, $100,

FINANCE

SANDEMAN

SHERRY & PORT

Obtainable everywhere."

靠可用耐油

PAINTS, ENAMELE,

TUESDAY, APRIL 18, 1939. —PAGE 11'

PUBLIC AUCTION.

THE Undersigned have reveived LAMMERTS' AUCTIONS

instructions

TO SELL BY

PUBLIC AUCTION

ON

THURSDAY, the 20th APRIL 1939 Commencing at 10:30 am.

At No. 10, Albion Terrace, Kowloon Dock.

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE.

also

A Few Pleces of Blackwood Furniture

and

One Barograph

On VIEW from WEDNESDAY.

the 19th APRIL, 1930...

TERMS:-Cash on Delivery

LAMMERT BROS..

AUCTIONEERS.

PUBLIC_AUCTION.

THE Undersigned have received

Instructions

THE

TO SELL BY:

PUBLIC AUCTION

ON

WEDNESDAY, the 19th APRIL, 1939

น

4

Commencing at 2.30 pan.

At their Sales Room, No. 35

Hankow Road, Kowloon...

A QUANTITY OF VALUABLE

CURIOS

Comprising:-

Old Porcelain, Pottery and Bronzes, Ivory, Jade, Agate, Corne- ·

PUBLIC AUCTION. an, Amber, Crystal and Quarts

HE Undersigned have received.

instructions

THE

牌鴕路

VARNISHES & SPRAY LACQUERS.

DURABLE

A ECONOMICAL

MAKSUFACTURING OV

THE NATIONAL LACQUER & PAINT PRODUCTE CO.LTD.

KING'S ROAD, HONG KONG. 182. $1601-2-

出司公限有油漆批裝

I

Newly Arrived Fresh

»JACOB'S ASSORTED BISCUITS

in jib cartoons

Obtainable at "

HUNG CHEONG

Tel. 57108.

Mr Howard Harding.

Talphay

66, Nathan Road. Kowloon

to sell by

PUBLIC AUCTION

THURSDAY, the 20th APRIL, 1839

Commencing at 5,35 p.in.

At their Sales Room, No. 2 Con- naught Road, Central, (Room No. 205, 2nd Floor).

A VALUABLE COLLECTION OF POSTAGE STAMPS

On VIEW from WEDNESDAY, the 19th APRIL, 1939.

Terms: Cash on Delivery.

LAMMERT BROS..

AUCTIONEERS.

Engraving is the hall mark

Mr. J. Cartwright,

48. Ollerton Flood

In these we Specialise

Samples available

at

Mr. Geoffrey A. Malls

of

VISITING CARDS.

}

If you wish to create

good

a

impression

use our cards of high

→

Quality.

Mr. Eric B. Green.

30. North Raph

THE EASTERN ELECTRICAL COMPANY.

#74,"

Ornaments, Chinese Hand Paint- ings. Pictures. Embroidery, Carved Lacquer Screens and Table Screens, etc., etc.

On VIEW from TUESDAY, the. 18th” APRIL 1939.

TERMS:---Cash on Delivery.

LAMMERT. BROS..

AUCTIONEERS,

PUBLIC_AUCTION.

THE

THE" Undersigned have received

Instructions

to sell by

PUBLIC AUCTION

..

FRIDAY, the 21st APRIL, 1839

Commencing at 2.30 p.m.

At their Sales Room, No. 2 Connaught Road, Central,

Ground Floor,

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE,

Comprising:-

Iron Bedsteads, Divans, Ward- robes, Dressing Tables, Chests

of Drawers, Aldeboards, Dining Tables, Canvas Folding Chairs, Chesterfield Suites, Hatstands, Desks, Typewriter, Tables," Book- cases, Filing and Glass Cabinets, Fenders and Fire Brasses, Ornam *ments, Pictures, Oll Paintings, Car- pets, Rugs, Runners, Mosquito Nets, Wardrobe and Cabin. Trunks, Cabinet Gramophone and Records, Electric Ceiling and Table Fans, |E. P. Brass, Lacquer, Glass and

Porcelain Ware, Cameras, Bino- culars, Tea Sets, Cooking Utensils, etc., etc.

FRIC GRAY.

PHONE CENTRAL 1755.

GAMERÁ STUDIES.

SPEPY #TREET, WAI

A SELECTION OF BLACKWOOD

FURNITURE

Comprising:

Joss

Table, Teapoys, Des Chairs, Tables, Standard Lamps, Lying Chairs, Pire Screens Piano and Optura Stools, etc., etc.

Fand

1E, C. A Victor Radio Bet. 1 All Wave" "Howard"

Radio

Gramophone

1 "Remington" „Typewriter

1 Surf Board

2 Canvas Canoes

1 Teakwood Bed Room Butte

1 Teakwood Dining Room Suite

8 Volumes "International" Ency-

clopaedia of Surgery.

Mc Dennis & Spalding

THE HONGKONG DAILY PRESS

Marma House, 3rd Floor, 15-19, Queen's Road Central.

On VIEW from THURSDAY,

the 20th APRIL, 1939.

LAMMERT BROS.

AUCTIONEERA