1939-06-13 — Page 11

HONGKONG DAILY' PRESS

Finance and Commerce

NATIONAL CURRENCY STABILITY

FINANCE SPOKESMAN EXPLAINS:

SLUMP IN CHINESE DOLLAR

CHUNGKING, Jane 10 (Central) Concerning the recent slump of the Chinese yuan, a spokesman of the Finance Ministry at an interview declared that the method employed by the Con- trol of the Stabilization Fund in readjusting the exchange level was fully approved by the Government. This method further- more does not constitute a change in the Government's policy in maintaining the national currency.

FINANCE & GENERAL

H. K. STOCK EXCHANGE

Following a week of brisk trad- ing, in which there was a more

BUYERS

UNIFORMS FOR THE than average turnover, the mar ARMY: INDUSTRIES ket is now marking time, possibly for the purposes of digestion: In BENEFIT

consequence conditions generally, LONDON, June 1 (BW)-The were dull to-day with the Board magnitude of the demands made recording only a moderate num on sections of industry uncon-ber of dealings. nected with armament production by the enlargement of the armed forces is demonstrated in the. orders which the Government has placed with the boot manufac turers for 1.000.000 pairs of boots intended for militismen and the increased numbers "of territorials, as well as in order for nearly

The spokesman revealed that " Efforts are being made by the during the present seasonal trade Government to discourage the im- Buctuation, an excess of import in- port of non-necessities and at the 3,000 miles of khaki, which is now cluding a large portion of non-same time increase export. To being woven in Yorkshire milla necessities calls "for an adjustment benefit the nation's economy and for uniforms, the total cost of of the yuan to a favourable econo-provide the necessary war require-which will be not less than £4,- mic level. It is believed such an menta, steps are also taken to 000,000, adjustment would lead to trade minimize calls on China's foreign equilibrium and strengthen the exchange reserve." exchange market,

This last order is not only one for service purposes from which The spokesman concluded his in- the textile industries are beneft- The spokesman recalled that the terview by stating that" conndence ting." Other recent orders include Central Bank has never falled in of the people in the national cur- 2,000,000 yards of cotton overall., allotting foreign exchange to Gov-rency will remain unshaken des- material for the RAF and 15,000- ernment and private organs acpite the present market distur-100 yards of heavy duck for the cording to the official rates for bance legitimate use approved by the Ministry of Finance. He pointed out that since foreign exchange is under Government control, dis- parity between official and market rates would naturally follow, as is true in the case of other countries.)

CONTROL STRENGTHENED The spokesman stressed the stability of the national currency and stated that with the creation of the Stabilization Fund, its con- trol has been further strengthened.

Amy.

COLLECTIVE FARMING

FOR WAR REFUGEES

KIAN, KIANGSI, June 11 (Central)--Collective farming has been introduced for the first time in the history of Chlaese afrienlture. Thousands of Chinese driven by the Japanese from their homes are establishing colonies in free China based off this new method of farming.

Klangs! had at the end of April, for house keeping. collection of 1939, more than 3,000 colonists] fire wood; and tending the flocks, working on 4,000 acrés of re- The collective farms are equip-

NEW UNIVERSITY claimed land. These people for ped with improved tools, threshing

merly were farmers, carpenters, machines, and sowing machines.

FOR KIANGSI masons, textile workers, school Working efficiency has been great-

teachers and professional menly raised since the introduction KIAN, KIANGSI, June 14 (Cen-from the provinces of Kiangsu, of these improved machines, apa tral) The Kiangsi Provincial | Anhwel, Honan. "Hupeh, and the each farmer can till half an scre Government has secured $2,000,- | cities of Nanking and Shanghai, of land a day as compared with 000 Chinese currency from the Na-They are grouped according to the ordinary Chinese average of, tional Government as an initiation their native districts, and each is one tenth of an sen fund for the establishment of a assigned to a settlement. Chung. Cheng University. Pre- The refugees in eacir settlement The colonists live in dormitories

divideri parations for its opening are now are

into wroups. Each built by themselves. There are in full swing.

group is given 20 acres of land, dining halls, bath houses, clinics, The university is named after The members are divided into and schools for settlement mem- Generalissimo Chiang Kai-shek, farming, handicraft, house keep-hers. A community kitchen sup- whose other name is Chung Cheng.ing, education, and management|plies dally meals at three dollars

BETTER QUARTERS

FOR CREWS OF MERCHANT SHIPS

Built By Themselves

teams. The farming team is again ja manth to each member. sub-divided into the tilling, sow- All the expenses of the settlers ing, and shepherd gangs. Each in, the Arst year, including food, team is headed by a captat ap-housing, domestic animals farm- pointed by virtue, of his ability, ¡ing tools, and clothes, were sup-

Work Recorded

plied by the settlement authori- The work of the members is re-ties. The expenses are to be paid LONDON, June 11 (BWS)-The National "Maritime Board, repre-corded every day by the manage-back, without interest, by the re- sentative of shipowners and sea-ment group under the supervision fugee colonists in eight years. men, has agreed on new rules in- of the settlement authorities ap-They will not be required to pay tended to effect, a far reaching painted by the "Klangst Reclama-any tax in the first five years of Improvement in crews quarters in tion Bureau. Harvests and profits their settlement... British merchant ships.

realized from the farms are divid- The Klangsi Reclamation,

Greater cleanliness and comforted among the members in propor-Bureau, In view of the success of are the objects of the new stan- tion to the work they do. Under its existing "settlements, is now dard and the Board looks for the this system, all are working hard. pushing ahead its expansion, place active co-operation of owners. women and children in these for 4,000 more colonists and the masters and crews to enforce and settlements are also profitably reclamation of 4,000 more acres maintain it,

employed. They are responsible of land in 1939.-

ADVERTISED SAILING

Athos II, Messageries, June 2 Ranpara, F. & D., June 24. Barpedon, B. & S., June 28. Behar, P. & O., July 1 Chenonceaux, Mosangeries, July 10, Tiahow, Bank Line, Juné 23. Pres. Garfield, &. P. Lizos, July 7. Tamerlane, Thoresen's, Juy 7. Doucalion, B. & S., July 12.

Ventes

Haruna Maru, N. Y. K., June 18. Pres. Garfield, A. P. Lines, July 7.

Oran

Nanking, Gilman's, June 29. Neckar, Malchers Juns 20:

Qalq Nauking, Gilman's, June 29. Tamerlane, Thoresen's, July

Penang Glenshiel, Jardine's, June 13. Agamemnon, B. & H. June 14. Haruna Maru, N. Y. E, June 10, Melbourne Maru, O. 8, E., June 17. Bhutan, F. & O., June 17. Shirale, B. L. (ápear), Juna 17: Buising, Jardine's, June - 22, Cramer,

Juss 22. 3. C. J. Line, Jpn Banpura, P. & O., June 14.

Gilman'

June 21

18.

's, Juna 39.

B. & B. Jube Bing, Tilawa, B. I Bebar, P. & of Post),

Thorese July

Pres. Garisid,

1.

P. Linse, July 7. Tameriane, Thoresen's, July 7. Kutsang, Jardine's, July 8

Flymouth Banpars, P. & 0., June 24.

Port Sald Glenshiol, Jardine's, June 15. Banmsedhai, Loxley's, June 14, Agamben, B. & S., Jus 14. Duisburg, Jebean's, June 16. Haruos Mara, N. Y, E., June 18. Bbutan, P. &.0,

&0., June 17.0 Athos II, Messagetics, June 20, Kanpura, P. &10. Ima M. Sauerland, Jabson's, June 28, Sarpedon, B. & B., June 18.

Gliman's, June 28. Melchers

Juna-80.

C/Biancamino. I. Triosting July 1. Baber, P. &:0," Jollis Pros. Garfild, Á. P. Links, July. 7. Tamerlane, Thorsen's, July 7.4 Chenonesty, Meshugurios, July 10, Danicalion, B. & 8.. Jul 19.4

Port Soudan Bhutan, P. & O., June 17. Babar, P. & O., July 1... Tamerlane, Thorsman's; July 7,

FROM H.K.

Port Swettenham Glenshiel, Jardise's, June 13. Agamemnon, B. & B., June 14. Shirai, B. L. {Apčar), June 17. Sarpedon, B. & S., June 23. Tilawa, B. L« (Apesz}, July 1,

Kartoon

Shirals, B. I. (Apenr), June 17. Hai Eling, Thoresen's, June 30. Tilawa, B. L. (Apest), July 1.

Rotterdam

Glenshiel, Jardine's, June 13. City of Pittsburg, Bank fine, June 18. Benacdhui, Loxley's, June 14. Agamemnon, R. & 8., June 14, Duisburg, Jebsen's, June 16. Haruna Maru, N. Y. K., Jane 18, Sanariand, Jabson's, June 28,

Gilman's, June 28. Neckar, Melcherz 30. Behar, P. & O., July 1.

Tamerians, Thorsen's, July 7, Dougalion, B. & Sư July 12.

Scandinavian Ports Nanking, Gimsa's, June 28. Tamerlane, Thoresen's, July „7.

Singapore Glenshiel, Jardine's, June 19, Beamscdhui, Loxley's, Jime 14. Agammon, B. & B., June 14. Duisburg, Jebsen's, June 16, Haruna Maru, N. Ÿ. K., Imna '16. Melbourne Mart, 0. 8. K., June 17. Shirala, B. T. (Apear), Juns 17. Bhutan, P. & O., June 17.

B. & 8., Juns 21. Jardine's, Jone 22. Airmy 0.8, K., June 27. Bot. J. GJ. Lípa. Jine 29, Athos II

Messageries, June 23,

June 24.

Nagito Maru, N.

Jane 28,

anpur, P. & K June 28. Sauerland, Jaboo's, Nanking Gilman's, Jans 28, Barpedon, B& Jane 28. Neckar, Melcher, June 30. Hai

Thoresen's, Jane 30.

"C (Piancamano, L. Triestino July

Tilaws, B. 7. (Apene), July 1.

| Behar, P. & O, July 1.

Alipore, P&

Geisscrain, J. C. Line, July 8, Tamerlane, Thoresen

Jaly

Pras Garbold, A. F. Lines, Julr:7. Kutsang, Warding's July. B

senceaur, Menageries, July Deucalion, B. & 8., July 12.

Glansbiel Jardina's, June 18. Dalsburg, Jebsen's, June 18.

NEW AIR BASE WORKERS SAIL

A. new phase of trans-Pacific airline development commenced in May with the sailing of the steamer "North Haven" to establish a com- mercial aviation base on Canton

Island, British-American controlled gateway to the South Seas

HK. Wharves, $110," H.K. Docks, $18.__... HK, Lands, $37, .. Humphreys, $81. H.K. Tramways, $17.10. Star Ferries, $67. Yaumati Ferries, $22.70. Canton Ices, $1.10. HK Ropes, $3.70. Wing On (HK), *. Wm. Powell Ltd., $1. Entertainments, $6.80. Constructions, $13.

HK, Govt. 4% pm.. loan 4% pm. Marsmans (HK), "47-

SELLERS

Providents, $4.90. HK, Lands, $371, HK. Tramways. $173.. Yauma Ferries, $23. Watsons, $8.95.

SALES

HK, Bank, $1400.

R.K. Wharves, $110. HK Docks, $18.20. " Providents, $43,

Telephones (0), $23.90. Watsons, $8.85.

PHILIPPINE GOLD MINING

Atoks

Anhamok

Bagulo Gold

Coco Grove Demonstration

QUOTATIONS

Centavos

29

22

241

Batong Buhay

.015

Benguet Consolidated

11.40

Big" Wedge

24

35

11

52

Itogon -Mining

234

Masbate Consolidated

11

15

North Camarines

27

Sar Mauricio-

1.02

Syndicate Investment

.047

United Paracale

481

Mindanao. Motherlode

10

PHILIPPINE GOLD MINING

I., X. L

Mine Operation

QUOTATIONS

Monday, June 12, 1939,

Atoks

Big Wedge

Centavos

Antamok

www

29

Baguio Cold

241

Benguet Consolidated

11,40

Batong Buhay. Coco Grove

.015

35

Demonstration

11

Mindanao Motherlode

101

24

Ilogon Mining.

23

I. X. L.

52

Masbate Consolidated

11

Mine Operation

15

Paracale Gumaus

19

1.02

United Paracate

461

Syndicate Investment

.047

North Camarines

27"

Market Comment-Steady.

San Mauricio

WEATHER REPORT

HONGKONG ROYAL

OBSERVATORY..

10 a.m., June 12, Barometer (at sea level), 29.69 ins, Temperature,' 81 F. Humidity, 86 per cent. Wind Direction, W.N.-

wind Force (Beaufort), 3... Temperature: maximum yesterday,

85°F.

Temperature; minimum last night,

TUESDAY, JUNE 13. 1939. -PAGE 111

LAMMERTS' AUCTIONS

PUBLIC AUCTION.

THE

THE Undersigned have rooni vedl

instructions.

to nell by

PUBLIC AUCTION

SANDEMAN

SHERRY & PORT Obtainable everywhere.

BURNS PHILP LINE

Paswanger & Freight Service To

AUSTRALIATM

TUESDAY, the 13th JUNE, 1939

Commencing at 230 pm.

At their Sales Room: No. 95, Hankow Road, Kowloon.

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE

Comprising:

Bedsteads, Wardrobes, Dressing Tables, Chests of Drawers, Bide- boards. Dining Tables, Chairs, Chesterfield Suites, Ice Chests, Desks, Bookcases, Glass Cabinets, Carpets, Rugs. Ornaments, Cut- lery, Porcelain, Glass, Brass, E. P. and Aluminium Ware, Sewing Machine, Gramophones and Re cords, Radics. Electric Goods, etc..

etc.

A FEW PIECES OF BLACKWOOD FURNITURE

.M.V.

'NEPTUNA'

dus

Wednesday, 21st JUNE

salling

MIDNIGHT Saturday, 24th JUNE

For

BAIGON,

MADANG, SALAMAUA,

RARAUL SYDNEY AND MELBOURNE.

Excellent passenger accommodation with a large number of single cabins at no supplement, Built-in Swimming Bath and Spacious Sports Deck,

First Class to Sydney

-Single-£47.10.0d. Beturn-£76.0.04.

Passenger & Freight Agents: GIBB, LIVINGSTON & CO., LTD. Telephone No. 28031.

P. & O. Building.

THE SERVICES

(Continued from Page 3)

also

On VIEW from MONDAY. the 12th JUNE, 1839.

Terms: Cash on Delivery,

LAMMERT BROS..

AUCTIONEERS.

|PUBLIC AUCTION.

THE Undersigned have received

instructions

to sell by

PUBLIC AUCTION

41

FRIDAY, the 16th JUNE, 1939

Commencing at 2.30 pm,

At their Bales Room, No. 2, Con- naught Road, Central, Ground-

Floor.

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE-

Compriting:

Iron Bedsteads, Cots, Divans,

PUBLIC AUCTION. Teakwood Wardrobes, Chest of

instructions

the Actills, relieves Captain E. A THE Undersigned have received Alymer. DS.C., in command. Captain Alymer is to take command of the Fishery Protection and Minesweeping

Carton Island is destined to] become a stepping stone in the ex- tension of Pan Airways". -trans- Pacific operations to Australia. Rainfall for 24 hrs. ending 10th | Plotilla.

British participation in control. to-day, 003 has.

78 F.

of the island has presaged the Total rainfall since January 1st, likelihood that in the future it may 43,70 ina,

also serve as a base for Imperial Against an average of 28.77 in. Airways from Australia to Canada Sunset to-night. 7.07 p.m.

to connect with the recently in- Sunrise to-mporrow, 5.38 am." augurated airplane passenger zys-

4 p.m., June 12. tem crossing the Dominion east Barometer (at sea level), 29.04 'ins. and west-

The "North Haven," operated

Temperature, 83 F. Humidity, 62 per cent,

by Pan American Airways trans-Wind Direction, WNW. |ports about 5000 tons of cargo 'and

about 100 men to the island.

The Yunnan Provincial Food Control Board was oficially · In- augurated in Kunming on June 10. The chief, purpose of the Board will be finding means to (facilitate the transportation of food" within the province, 80 28 to lower the increasitig rice price.

Harins Maru, N. Y. K, June 16.. Athos II, Messageries, June 28.; Peopark, P. & O., June H.. Nanking, Goman's, June 28, Sarpedon, B. & G., June 18, Neckar, Melchers, June 30, Bobar, F.&O. Jay Le

Pres, Garded, A. P. Lines, July Chenonceaux, Mesageries, July 10, Deucalion, H. & S., Coy. 17.

Tangier Banpura, P. & O., June 24.

U.K. and Continent

Clly of Pittsburg, Bank Line, June 18′′

Wind Force (Beaufort), 2 Maximum temperature, 83 F. Minimum temperature, 78 F. Rainfall ni

HONG KONG TIDE TABLE From 13 June to 19. 1938

HIGH WATER.

Date of

Low Wann

Hong

Kong

Height

Standard Time

Height,

Kong

Standard

Tire,

b. m.

Tuen, 13. |

0534

15 6.

17 50

4:1

Wed 1:14 |% 0810

6.2

19 16

Thur,16

Fri 16

20'205 07 89 79 1113

01 12

Baht 17

Sun 18

2305

Моп 10

0051

8 0082099

#6444

NAVAL"APPOINTMENTS

The following appointments are made by the Admiralty; ut part

Instr. Cdra-J B. Wilson, to Pres-

to sell by

PUBLIC AUCTION

dent for crse. at Naval Met. Branch WEDNESDAY, the 14th JUNE, 1.29

(June); to Peregrine (June 26); EL

A. Hendrie, to Britannia for R.N. Cal. lege, Dartmouth (June 77; A. J. Low, to Ganges (June 13); D. M. Steal, to Hood Wie 19).

Act. Bab-Les-D. P. Z. Cox, to Im- pulsive (May 27), appt. to Alresford cancelled; F. L. C. M. Lee, to Alresford (June 3),

Senior Masters.-C. Wright to Wildfire (June 1); L. A. Kew, to Drake for Gunnery 8ch. (June 5); G, Prowse, to Royal Oak (on recoming).

04 803. T. Sheehan, to Kestrel (June 13....

PROMOTION"

cd. Tel-8. T. Showell, to rank of

Tel. Lt. Ceny. May 24).

'THE ARMY

HONGKONG DEFENCES

...to.. Oncers of the Royal Artilery de 7250129] sirgus, of and recommended for service 9349 27 with the Hongkong-Singapore, Royal Artillery are required to all vacancies occurring in that unit during the 1337 is

31 trooping season 1935-40 pro 008139

*/ Dicers will normally be posted to serve for thrpe, years? They may en Lend

thetr service it recommended 1506

100 0164 and the interests of the service per

mit, provided that tu nó case will an 10.4804 alter be allowed to serve continuous Ca 36 28ty-for a longer period than four 441 18.30 0.1in the Far EaL PAN

0817 7.6

0903

Offbers: posted to

17 15-100 Singapore Royal Artillery

eligible for, trauster: to

Commencing at.5.15 p.m..

At their Sales Room, No. 2, Connaught Road, Central (Room No. 205, 2nd Floor)

A VALUABLE COLLECTION OF POSTAGE, STAMPS

On VIEW from TUESDAY,

the 13th JUNE, 1939-

Terms: Cash on Delivery.

LAMMERT BROS

“AUCTIONEERA.

Halament intil

|who stresdy have.

Drawers, Dressing Tables, Bide- Chesterfield Suites, Hatatands, Ice boards, Chairs, Dining Tables, Chats, Writing and Typewriter Tables, Filing and Glass Cabinets, Wardrobe and Camphorwood Trunks, Cabinet and Portable Gramophones, Records, Omaments, E P., BIRUS, Aluminium, Glass and Porcelain Ware, Meat Machine, Electric Table Lamps, Fans, Heaters and Cookers, Canvas Canoes, etc. etc.

A. FEW PIECES OF BLACKWOOD FURNITURE

and

2 Mectric Refrigerators

daire !!

2 Radio Beta :

1-1938 Model 11-Tube

Radio Gramophone

15-Tube

Frigi

Philco

* Phillips"⠀⠀ 'Radio (in working order)

Dining Room Buite

1Bed Room Buite

On: VIEW from THURSDAY the 15th JUNE. 1939.

TEMS: Cash on Delivery

MERT BROS.