1939-06-14 — Page 11

4

HONGKONG DAILY PRESS

BUSINESS CONDITIONS IN CANADA AND BRITAIN

The crisis in Europe in March and the recurrence of similar Incidents during April. have had a most disturbing effect on world economic conditions. All through the winter, it was taken for granted that, with thệ arrival of spring, the upward. trend in businom activity «general in the latter months of 1938, would be resumed. The decline since last November, as Indicated `by the official indexes compiled in Canada and Grest Britain, was not great and the outlook early in the yetz was considered generally favourable.

"

Ji

But all countries have felt thaf 1938. Petroleum operations in the "Impact of the blow dealt by Ger- Turner Valley of Alberta were well

• many in the annexation of Czecho-] maintained; to meet the Increaseč Slovakia

security markets demand the daily quota WIJ throughout the world have been recently raised by the Conservation unsettled, demand for many pro-| Board from 10,000 to 17,500 barrels. ducts curtalled, international trade Development and construction work and extension programmes post- continue active. poned.

Iron And Steel Armament production alone has Manufacturing activity has been been stimulated and many coun- restricted in recent months, the tries have hastily adopted plans for index falling from 125.3 เท greatly increased output. Generally, November to 99.1 in February, however, business has been but conditions compare favourably hesitant; recovery has made but with those reported for the early little headway and cannot be ex-months of 1938. The production of pected to do so without some Iron and steel daring the first two Improvemen in the international months of the year was substan- situation

tlally below the 1938 total but Increased activity at the Sydney Canada Economic conditions in Canada plant was reported in March. The during the first two months of output of automobiles during the 1939 showed a moderate improve-first quarter of the year was the corresponding smallest since 1938. at 48.650 units period of the preceding year. The against 50,500 in 1938 and 64,200

In 1937. level of productive, activity, as measured by the oficial Index of Newsprint production during the the physical volume of business, same period was 629,661 tons in averaged approximately three" per 1939 and 649,105 in 1938. Foods and cent higher-1124" as compared with 109.3 in 1938. Mining opera tions continued to be well

than last year. The export demand; maintained; manufacturing was at a lower level but the decline was for wheat flour has considerably comparatively small; the outpat or improved with shipments during the electric power was reaching its

ment

over the

seasonal peak.

H. K. STOCK

EXCHANGE

The market continues to mark time with operators taking very little interest in things, Dealings recorded showed enquiries or a very small scale.

BUYERS

#K, Bank, $1375. ... Union Ins., - $445. Star Ferries, 366). Telephones (N), STŁ. Canton Ices, $1.10. HK Ropes, $3.70. Dairy Farms (N), $21. Wing On (HK), $41. Wm. Powell Ltd., $1. Entertainments, $8.80. Constructions, $1,55.

HK Govt 4% pm. 4% pm. Marsmans (H.K.), 4/-.

SELLERS

HK. Bank, $1400. HK. Eands, $37). H.K. Tramways; $171.

-SALES

HK. Lands, $37. HK. Tramways, $17.10. Star Ferries, $87.

Dairy Farms (N), $21.

PHILIPPINE GOLD MINING QUOTATIONS

Atoks Antamoks

other consumer goods were pro-1, L duced in satisfactory volume, the

general level being slightly higher

first months of the current season at 3.008,626 barrels as compared Wholesale and retail sales were with 2545,339 in 1937/38. slow largely, as result of unfavour- able weather conditions, Wholesale

Outlook Satisfactory

Moisture conditions in Western

prices were low, the Index averaging Canada are reported to be the best 73.3 against 83.7 in 1938 but a for some years and while spring bottom Beemed to have been operations may be delayed in certain districts, the outlook is established AS practically na change had been reported since considered satisfactory. Shipments November. Altogether the situation, of wheat are considerably higher barring untoward incidents abroad than last season due to the more was not considered unfavourable,

abundant supplies avaliable. Total exports from August 1 to April 14

921 were

million bushels Gold mines continued to operate against 57 million at the same date with unimpaired activity. During last year. The livestock Industry the first two months of the year has benefited from the new trade Ontario mines milled 1,643,902 tons agreement with the United States. of ore as compared with 1,421,910 shipments of beef cattle to April tons in the corresponding period 13, comprised 50,783 head, a sub- last year. Values recovered increas stantial increase over the total

41

Gold Mines

ed from $14,810,000 to $18,820,000 of 15.830 head reported at the same Gold production in Quebec was date in 1933. The totals for dairy also higher at $5,923,000 in 1939 cattle and calves were also higher. against $5.171.000 in 1938. Pre-

Shipments to Great Britain, on liminary reports covering March the other hand, have been ex- operations indicate that activity tremely small. Dairy production continued "general, several proper-has been generally higher in all ties establishing new recorda.

provinces. The total output of

Mine Operation

FINANCE

F.R.B. NOTES SLUMP

June

.13

CHUNGKING. (Central)-Buyers of the Chi- nese legal tender paid $160 "Federal Reserve Bank” notës”, for one bandred of the Na- tional dollar.

SINGAPORE STOCK QUOTATIONS

The following quotations of 12 leading Singapore stocks received by Messrs. Eills and Edgar, Singa - pore, on June 9.

MIDDLE PRICE Rubber Shares.

Amalgamated Malay Estate Ltd. $1.50"

Kempas Ltd., $1.85.

Kuala Sidim Rubber Co., Ltd.. $2.25.

Pajam Ltd.. $1.821.

Sungei Bagan Rubber Estates Ltd., $1.30.

Tapah Rubber Fstates Ltd..

$1.60.

Tin Shares

"Petallis Tin Ltd., $6.80.

Sunget Luas Tin Dredging Ltd.. $1.45.

·

Industrials

Straits Trading Co., Ltd., $25.70. United Engineers "Ltd.,

dinary), $8.60,

Wearne Brothers Ltd., $12,93,

Gold Shares

Raub Australian Gold Mining

The above quotations are in

Straits dollars,

4 SHOWS

BOLLY

1.45-820

Centavos

23

Baguio Gold

244

Batong Buhay

.018

Big Wedge

241

Coco Grove

341

Co., Ltd., $4.40,

52

Itogon

24

Masbate Consolidated

11}

15

North Camarines Paracale Gumaus San Mauricio ........ Sujoc Consolidated

28

19

1.02

15)

Syndicate Investment United Paracale Mindanao Motherlode

PHILIPPINE GOLD MINING QUOTATIONS

..045

47

11

I

on Tuesday, June 13 1939.

Centavos

Antamoks Atoks

23

29

241

.016

341

11

24

24

52

Masbate Consolidated..... 11

15

Paracale Gumans.

...... 19

San Mauricio

1.02

Suyoc Consolidated

151

United Paracale

47

Bagulo Gold

Batong Bubay

Coco Grove

Mindanao Motherlode

Big Wedge

Itogons

I, X. L

Mine Operation'

Syndicate Treatment ......045

North Camarines

Market Comment quiet.

The output of other metals was creamery butter during the first well maintained, although con quarter of the year was 11 per siderable variation was reported. cent greater than in 1938 and an HONGKONG Asbestos production was higher increase of 8 per cent was shown at 40.000,, tons against 29,000 in for factory

LONDON METALS

EXCHANGE London, June 12 (Reuter).

COPPER

cheese. The export demand for dairy products has been well maintained; butter stocks, however, are heavy.

23 Steadier

SHAREBROKERS'

ASSOCIATION

Volume of Business Transacted on Tuesday, June 13 1939.

Construction activity continuesį slow, although the value of con- Lands tracts awarded during the first ELK Docks three months of 1939 was slightly Hotels

higher than in the corresponding Watscris buyers selera

perlod of 1938. Employment China Lights (0) £

E

generally has been well maintained Underwriters 41-11/16 except in the logging Industry Nanyangs where a considerable decline is Antamoks reported.

| Demonstrations.

Standard, Cash 41-5/8 Standard."

3 months 41-15/16 Electrolytic" 47-1/4

TIN Standard. Cash 224-1/4 Standard,

42 48-1/4

224-1/2

222-1/4

3 months. 222

LEAD

Foreign.

Official Price 14-3/8 3 months 14-3/8 Foreign Oficial

14-7/16

14-7/18

SPÉLTER

Ordinary,

Ofacial Price 14-1/8 Ordinary, Oficial

14-3/18-

200

300 $37.00 16.20

1,000

5,85

500

8.80

032 8.80

2,000

1.50

100

4.00

1,000 PS,0,23 5.000- Ps.0.11

Flight Of Gold Across Atlantic Alarms England

- Flight-of-“funk-money"across the Atlantic-continues-in--fu}} force, regardless of the admonitions of Sir John Simon, against export of capital abroad at a time when the British Government is seeking to devise the cheapest means of financing the coun- try's vast armaments programına,

It is estimated. $50,000,000 worth 55 per cent at the end of 1937. of refugee metal poured out of Since then, however, the 'figure England in the end of May alone has been substantially enlarged by bound for the United States and the steady transfer of gold from Canada and the outflow shows no Europe during the first four signs of abating.

months of 1939 and statistics pub- Most of the gold, it la explained, lished lately put America's mone- Tin, Standard, 3 months £222 was sent by central banks and in-tary gold stock now at approxi- Fald and value.

3 months 14-1/4 14-5/16 Finsi Afternoon Transactions Tin, Standard, Cash, £224-1/4 value.

REVISION OF

U.S. TAXES'

WASHINGTON, June 13 (Reu-

ter) The Ways and Means Sub

મ

dividual holders in England and.on mately $18,000,000,000 or about, BO the continent who belleve that per cent of the world's known sup- Canada and the United States ply: would be safer resting places for wealth in the event of war.

Striking Features

Capital Controse wh Meanwhite, following the British Clovernment's decision to conscript Striking features relating to the man-power, the argument is being Committee of the House of Re-alted States gold absorption are widely canvassed that the capital presentatives has voted for a recontained in the latest issue of should be subject to compulsory viston of taxes on companies con- Money and Banking, prepared by control also. TA

The Treasury is faced with the stituting inter alia, a fiat cor the economic intelligence service of porate income tax for undistribut the League of Nations" at Geneva, problem of raising close to $2,000,- ed profits tax.

Switzerland pendan Committee has also extended for two years the existing excise

taxes.

The Sub-

000,000 from loans this year to The report describes the heavy meet the growing armament neeas accumulation of the metal in the and the situation is being closety DB as an outstanding develop watched by market operatóra z ment of the world gold situation. Although⠀⠀ Sir John Simon It is calculated that while. world turned down opposition de- gold--outpat— excluding Rpasta, mands for a capital levy--dur- jumped last year by 7.7 per centing budget debates in the House or a new record level of 31,700,000 Commons, some financial observers NEW YORK, June 13 (Reuter) ounces

belleve the Government may eveil- The United States Treasury's gold At the end of 1938, the United tually be forced to tighten up legts- holdings now exceed $15,000,000,000 States held $24,512,000,000 in gold lation to check the outflow of capi- which is equal to 60 per cent. of representing. 58 per cent of the tal and preserveerdeling cheap the world's monetary gold,

world visible gold reserves, against money ruten

U.S. TREASURY'S GOLD HOLDINGS

mad

WEDNESDAY, JUNE 14, 1939. —PAGE 111

Announcing

CHILDREN'S CHARITY FAIR

IN AID OF

T

THE NATIONAL, ASSOCIATION FOR THE CARE OF WAR ORPHANS

---ON

SATURDAY, JUNE 17th, 1939

"All The Fun Of The Fair":

From 2 p.m. till 7 p.m.

AT SIR ROBERT HỌ TUNGS HOUSE,

THE PEAK

NUMEROUS SIDE SHOWS

Special Attraction

CHILDREN'S DRESS PARADE

BIG

Come and have a good time!

LAMMERTS' AUCTIONS

PUBLIC AUCTION.

THE

THE Undersigned have received

instructions

to sell by

PUBLIC AUCTION

on.

WEDNESDAY, the 14th JUNE, 1939

Commencing ät 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, 1999

Terms: Cash on Delivery.

Η

LAMMERT BROS.,

+

AUCTIONEERS.

PUBLIC AUCTION.

THE Undersigned have received

instructions

to sell by

PUBLIC AUCTION

ሳል

ON

"TAGE AMRY ERAM OR HAPPY VALLEY BUS

ORIENTALE

THREE DAYS ONLY! TOMORROW FRIDAY-SATURDAY

SENSATIONAL THEATRICAL BARGAIN!

BY SPECIAL ARRANGEMENT WITH WARNER BROS.

WE ARE ABLE TO PRESENT SEVERAL OF THEIR IMPORTANT

1939 FEATURE

PRODUCTIONS FIRST RUN IN HONG KONG AT POPULAR PRICES.

SHOWING BIG PICTURES AT HALF PRICE!

JOHN GARFIELD

Bares the

Startling Truth

About

"BLACKWELLS ISLAND

ROSEMARY LANE - STANLEY FIELDS Directed by WILLIAN MCGANN - Herren

Play by Crane Wilber • Ocigital Story by Crane Wilder set Lar Katz » A First National Picture – Presented by WARNER BROS.

F

SHOWING AT OUR USUAL PRICES MATINEES 200.-30%. EVE.INGS 200-300-600,-706.

THURSDAY, the 15th JUNE. 1939

Commencing at 11.00 am.

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

A QUANTITY OF HOUSEHOLD FURNITURE AND GLASS

PARTITIONS

Terms: Cash on Delivery.

'

LAMMERT BROS..

AUCTIONEERS.

PUBLIC AUCTION.

THE Undersigned have receiver

[Instructions

HONGKONG WEEKLY PRESS

AND

CHINA OVERLAND TRADE

REPORT.

ILLUSTRATED

PUBLISHED EVERY FRIDAY

FULL REPORTS

LOCAL NEWS, SPORTS, GOSSIP, TRADE, ETC.

30 CENTS A COPY

HONGKONG DAILY PRESS, LTD.

MARINA HOURH (220 FLoom) 16-19 QUILT'S ROAD OSTALE

to sell by

PUBLIC AUCTION

FRIDAY, the 16th JUNE, 1939

Commencing at 2.30 p.m.

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

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE

Comprising:-

Iron Bedsteads, Cots, Divans, Teakwood: Wardrobes, Chest of Drawers; Dressing Tables – Siden Chesterfeld Suites, Hatstands, Ice boards. Chairs, Dining Tables, Chests, Writing and Typewriter Tables, Filing and Glass Cabinets," Wardrobe and Campharwood Trunks, – Cabinet and Portable Gramophones, Records, Ornaments, B. P. Brass, Aluminium, Glass and Porcelain Ware, Meat Machine, Electric Table Lamps, Pang, Heaters and Cookers, Canoes, etc etc.

A FEW PIECES OF BLACKWOOD FURNITURE

and

2 Electric Refrigerators

2 Radio Sets

“Philco

1-1936 Model 11-Tube Redio Gramophone 15-TubePhillips" Radio

working order) (0.

1 Dining Room Suite

1 Bed Room Suite

MYON VIEW" fromSTHURSDAY,

the 16 JUNE 19897

BROS