ד'
HONGKONG DAILY PRESS
Finance and Commerce
REASON FOR FALL IN EXCHANGE VALUE OF CHINESE DOLLAR EXPLAINED IN COMMONS"
LONDON, June 14 (Reuter)---Mr. F. J. Bellinger (Lab) asked in the House of Commons yesterday the reason for the serious fall in the exchange value of the Chinese dollar and why the Stabilisation Fund had ceased to operate.
Sir John Simon, in reply, referred the questioner to the statement issued in Hongkong on June 8,
WILS
Mr. Bellinger asked if the pur- better economic level and, thereby, pose of the Chinese Currency bring the balance of trade into Stabilisation Fund
not to equilibrium.” keep the Chinese dollar stable and, as it had depreciated since, whether the Fund had ceased to serve a useful purpose.
Sir John" Simon said he did not think that the Fund had ceased "to be useful and he again” referred" the questioner to the Hongkang statement
Hongkong Statement
Sir John recalled a similar step taken last June and said that when the level of 8d. was found, it was successfully maintained for twelve months. **
New Level Found
It was confidently believed that the new level had now been found and could be strongly held, Many goods previously imported into
Mr. Bellinger asked whether the China were now being made at
Fund had ceased to operate as British funds were involved.
The Chancellor of the Ex- chequer again referred to the Hongkong
"than statement which there could hardly he better information,"
Sir John went on "As gen- erally known, during the past weeks there has been no pressure on the China" Stabilisation Fund and confidence in the National Currency remains unshaken, Oon- trol, however, temporarily with drew its support on Wednesday in urder to allow the exchange value of the dollar to be adjusted to
CHINESE TRADE WITH BRITAIN
home and a favourable harvest. which was foreshadowed by all contribute
| reports, would also
towards reduced imports.
Arrangements had been COM- pleted so that the government's requirements of foreign ex- change for munitions and other supplies had been taken care of and would not come on the exchange markai.
-135
Q
Basis of Fund Finally, as the Stabilisation Fund had now been strengthened and further efforts to broaden the basis of the Fund had been suc- 'cessful, the ability of the authorl- tles to maintain exchange could not be questioned.
It was further emphasised that | despite the present adjustment in |exchange level, National currency would continue to retain the con-
Commission Formed adence of the people because its
In London
A Chinese Government Trading
Commission has been created in
London.
Its purpose is to promote econo- mic and commercial relations be-
free convertibility was at all times assured
N.C. DEVELOPMENT CO: 3-YEAR PLAN
SHANGHAI, June 14 (T/Ocean)
tween China and Britain to-The North China Development arrange for the sale of Chinese Company has decided to carry out. products in Britain and elsewhere, with the approval of Japan, it and to supervise and advise upon three-year plan starting this year. the placing of "orders for British it is announced here to-day by the machinery and other articles for Japanese authorities. the Chinese Government and Chi- nese local authorities.
Dr. Quo Tal-chi, Chinese Am- bassador in London, is chairman.
The vast plain east of Tahsin Mountains in-Shansi province will be developed and other projects provided för in the three-year plan Include the building of 3,000 kilometres of railways in North China and another 1,600 kilo-
POLISH ECONOMIC metres in Inner Mongolia. con-
MISSION
H. K. STOCK
EXCHANGE
are con-
FINANCE
BRITISH CREDIT POLICY
Export Guarantees Act
BARTER PLAN NEGOTIATIONS!
LONDON, June 14 (BWS)--The President of the Board of Trade, replying in the House of Commoris,
THURSDAY, JUNE 15, 1939. —PAGE 11'
PUBLIC AUCTION. ||LAMMERTS' AUCTIONS
sald he would not like to make any THE Undersigned have received
PUBLIC AUCTION.
Instructiona
to sell by
PUBLIC AUCTION
"
T
There were a number of difi;
EXCHEQUER RETURNS
estimate of the time when he would be able to make a statement on the LONDON, June 14 (SWS)-When with the United States for the progress of negotiations Two factors appear to be ad- the Chancellor of the Exchequer bulk exchange of commodities. versely affecting our market. The was asked yesterday in the House impasse in Tientsin and uncer- of Commons if he would lay it tainty as to the cross rate between down as a principle of national culties, but negotiations were pro- Hongkong and. Shanghai. Conse-policy when granting, on political ceeding satisfactorily. quently our market is dull and grounds, credits to friendly foreign With only a few enquiries, on the countries, that the transactions other hand, sellery
should not be by way of monetary spicuous by their "absence.
loans or bank credits, but by use of the Export Guarantees Act and BUYERS
if he would, if necessary, extend the suitable amount of guarantees to be available beyond the present total limit, he replied: "Fils Ma- jesty's government have no power to grant loans or credits to other countries and have no present in- tention of asking Parliament for last year, power to grant or guarantee loans. Total expenditure, lear self- or credits to other countries, ctner-balancing items, is £233,036,157, wise than in accordance with the compared with £189,954,386 at the Larrangements· set out in the new corresponding" date of 1038.
Export Guarantees Act"
HK Bank, $1360. Raubs-$8:40.
HK, Tramways, $17. Star Ferries, $88 Telephones (N), $14. Canton, Ices, $1. Wm. Powell Ltd.. $1. -Constructions, $1.55.-
H.K, Govt. 4% loan 4% pm. Marsmans HK.), 4/-.
SELLERS
H.K. Bank, $1375. Providents," $4.90. H.K. Tramway, $174.
SALES
H.K. Bank, $1375. Union Ins, $460. H. & S. Hotels, $8.55. Humphreys, $8.40.
·PHILIPPINE GOLD MINING QUOTATIONS
"Ataks
Antamoks
Batong Buhay "Coco Grove
Centavos
201
23
015
34
11+
1.02
154
043
Masbates Consol, San Mauricio Suyoc Consol. Syndicate Investment
United Paracale... 47
"PHILIPPINE GOLD MINING
QUOTATIONS
Wednesday, June 14, 1939.
Centavos
Antamoks
Sir John Simon added that the possibility of Increasing the limit of these guarantees would be con- sidered when necessity arose.
"Cheap Money"
Another question addressed to the Chancellor of the" Exchequer gave him the opportunity to declare that he saw nothing in the pre sent conditions to suggest the need for any change in the policy of the Government" regarding the maintenance of "Cheap Money**
a matter. In relation to which he had frequently stated the Govern ment's general policy
il
AGRICULTURAL" CONGRESS
DRESDEN, June 13 (T/Ocean)- At the main assembly of the In- ternational Agricultural Associa- Hon held here yesterday in the course of the 18th. International Agricultural Congress, it was.de cided that the 19th. International Agricultural Congress
23
would be held in Rome.
Atoks... Bagulo Gold Benguet Consol.
29
24
Batong Buhay Coco Grove Mindanao
Big Wedge Itogon's
1942
Next main assembly of the In- ternational Agricultural Assembly.
11.50 will be held in 1940 in Paris and
015 the succeeding one in 1941 in 32} Cairo.
10
24
231
Masbates Consol. Mine Operations.
11
141
Paracale Gumaus San Mauricie Suyor Consol. United Paracales Syndicate Investment Surigao Conso!. North Camarines
Market Comment Quiet,
18)
1.02
15
481
043
23
291
88
struction of harbours in North China covering 2,500 square WARSAW, June 14 (Reuter-metres, opening up of mines for The Polish Economic Mission, 700,000 tons of coal, 1.000.000 tons WEATHER REPORT
headed by the former Finance of iron one, 2,000,000 tons of lime, Minister, left for London to dis-refining 500,000 tons of steel, pro- cuss the question of dnancial co-duction of 2,000,000 tons of salt, operation between Polend and 300,000 tons of coke and 500,000
tons of wool in Inner Mongolia.
.:
Britain.
་
HONGKONG EOYAL”
OBSERVATORY.
10 a.m., June 14, Barometer Yat sea level), 29.77 ins. Temperature, 86 F. Humidity, 79 per cent. Wind Direction, W.S.W.
ADVERTISED SAILING FROM H.K. Wind Force (Beaufort), 3,
Hanpura, P. & O., June 24. Glenshiel, Jardine's, June 28. Nanking, Himan's, June 28, Sarpedon, B. & 6, June 28. Hai Hing, Thoresen's, June 30. Tilaws, B. I. (Apear), July 1. Behar P. & O., July 1
Van Houts J. C. J. Line July 6, Fres, Garfield, A. P. Lines, Jay 7. Tamerlane, Thorsson's, July 7. Kutsang, Jardine's, July 8,
"Plymouth
Raspurs, P. & O., Juas 24.
Port Said
Duisburg, Jebsen's, June 16, Haruna Marn, N. Y. K., June 16. Bhatan, P. & O., June 17, Athos II, Mesangories; Jung 22. Banpur, P. & D., June 24. Glenshiel, Jardine's, June 28. Sauerland, Jebsen's, June 28, Sarpedon, B. & S., June 28. Nanking, Gilman's, June 28, Neckar, Melchers, July
Eiancamano, L. Triestino July 1. Bahar, P. & O., July 1. Pres. Garfield, A. P. Linm, July 7. Tamerians, Thoresen's, Juir 7 Chenonceaux, Messgeries, July 10, Deucalion, B. & B., July 12.
Port Soudan Bhutan, P. & O., June 17. Bebar, P. & O., July 1. Tamarians, Thoresen, July 7.
Port Swettenham Shiral, B. I. (Aposr), June 17, Sarpedon, B. & 8., June 28, Tilawa, B. I. Apor), July 1.
Eargoon
Shirala, B. I. (Apcar), June 17.“ Hai Hing, Thoresen's, June 30. Tilewe, B. L. (Apcar), July 1. Matis Maru, N. Y. K; Joly 2...
Entterdam Duisburg, Jebsen's, June 16. Haruna Maru, N. Y. E., June 16. Gianahial Jardine's, June 29, Sauerland, Jebsen's June 24, Sarpedon, E. & 8., June 29, Nanking, Gilman's, June 28.
Neckar, Melchers, July 1. Behar, P. & Q., July 1: Tamerlane, Thoresen's, July 7. Deucalion, B. & 8, July 12.
Scandinavian Ports
Nanking, Güman's, June 28, Tumerique, Thorsses, July 7.
Singapore
#
Duisburg, Jebsen's, June 16. Haruna Maru, N. Y. K., Jate 16.... Melbourne Maru, O. B. K., June 17. Shirala, B. (Apear), June 17. Bhutan, P. & Ò.. June 17. Fellorophon, B. & 8., June 21. Suisang, Jardine's, June 22, Buenos Aires, O. S. K., June 22. Crymeg. J. C. J. Line, Jun. 23. Athos II, Messageries, June 23,
P. & June 24. shiel, Jardine's, June 29, Nagsto
Hard
N. Y. K., June 28. Sauerland, Jebeen's, June 28, Nanking, Gilman, Jone 28. Barpedun, B. & F., June 28...
B. I.
P. & O..
July 1 Triestino July 1.
Alipors, P. & G., July 7. AYED. C. J. Line; July 6.
J. C. J. Line July 6,
Boissevain,
Tamerians, Thorsen's, July 1.
Pree. Gerfeld, A..P. Lines, July 7, Kotsang, Jardins's, July 8. Chenonceaux, Mesagerinn, July 10. Deucalion, B&B, July 12.
Lulaburg, Jebsen's, "Jana" 16, Haruna Maru, N. Y. K., June 16 'Athos TI, Messagarina;.. Ranpurs, P. & O., June 24: Glenabial, Jardines, June 28. Nanking, Gilman's. “Jons; 25. Sarpedon, B. & June 28 Necks Mulchars Bahar, P. 3.0. July 1/ Pres, Gazisid, Á”) Chenonceaux,
Banpura, P ́& ON
Temperature; maximum yesterday.
85 F.
Temperature; minimum last night.
79 F.
Rainfall for 24 hrs, ending 10th
to-day, 0.07 ins,
Total rainfall since January 1st,
46.43–55.
Against an average of, 38.81 ins Sunset to-night, 7.08 p.m. Sunrise. to-morrow, 5.38 m
4 p.m., Jung. 14. - Barometer (at sea level), 29.71, ins, Temperatura, 83 P, Himidity, 80 per cent Wind Direction, &W,
Wind Force (Beaufort), 4. Maximum temperature, 88 F. Minimum temperature, 79 F Rainfall, 0.06,
/ HONG KONG TIDE TABLE
Frow 15 June to $1 1839
HIGH WATER
Days of
Month
LOW WATER.
Hong
Hong
Kong Blandard Time.
ham,
Height
fin
Kong
Standard Time
h.m
Height
1492 14
[Thair #15- .PB 49. 6:700 89
Fri 16 0781 78 113 38 112141 15.08 109 Bat 17. 08.17: 7.6 01:64 22:16 42 15 46 18an 78
0961
800820 % 9.
23 54 17 16 1070N 792041
Lines, July 7.
·10
Mon 19
Tues, 20
Wed, 21; # CO 49
113075 1845 10..
THURSDAY, the 15th JUNE, 1939
Commencing at 11.00 mm..
At their Sales Room, No. 3. Con-
FEIS. Undersigned have received
Instructions
to sell by
PUBLIC AUCTION
on"
LONDON. June 14 (BWS)-naught Road, Central, Ground THURSDAY, the 15th JUNE, 1939 Exchequer returns show that the Floor. total of ordinary revenue amounts to
£114,259,546, compared with £106,350,439 a year ago.
303,000 are over £5,000,000 up on
Receipts from customs at £47,-
Mr Howard Harding.
The Millows
Talepkay
Stop That
"
COUGH
or COLD
W
7HEN your throat is saru MNĚ - your eyes watery; when you can't stop coughing and ansosing and you're thoroughly lost in a cold, a Peps in your mouth brings wonderful relat,
These wonderful breatheable tablets will also check the worst cough or cold before it settles an your chest and turns to bronchitis. Paps give off rich, medicinal sasences which soon search out and Overcome cold and fu germs. Peps soothe the throat and inflamed air-tubes. They cut choking
phlegm and strengthe
and invigorate your
cheat and lunge.
L.P. 1307.
Tako
A QUANTITY OF HOUSEHOLD FURNITURE AND GLASS PARTITIONS
Terms: Cash on Delivery.
LAMMERT BROS.
AUCTIONEERS.
L'e pomerne the commotitzieć acceman zahlah Papa" They are pushed in zavině plhos bodies, along with
PEPS
Breatheable Tablets
Engraving is the hall mark
Mr. J. Cartwright.
48. Alla rim Rond
In these we Specialise
Samples available
at
Mr. Geoffrey A. Matthews.
of
VISITING CARDS.
If you
а
wish to create
good impression use our cards of high
Quality
Eric B. Green
North Rana South Shield
The EASTERN ELECTRICAL COMPANY,
BERNANO 2774"
FRIC GRAY.
PHONE CENTRAL 1705.
SANDRA STUCHED.
Vr Dennis & Spalding.
THE HONGKONG DAILY PRESS
Marina House, 3rd Floor, 15-19, Queens Road Central.
Commencing at 11.00 sm.
At their Sales Room, No. 2, Con- naught Road, Central. Ground Floor.
A QUANTITY OF OFFICE FURNI- TURE, SAFE, PARTITIONS AND SAMPLES
Terms: Cash on Delivery.
LAMMERT BROS..
"AUCTIONEERS.
品
PUBLIC AUCTION:
THE
HE Undersigned· Nave receiveď
Instructions
i!
to sell by PUBLIC AUCTION
FRIDAY, the 16th JUNE, 1939
Commencing at 2.30 pan.
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, "Side- Chesterfield Suites, Hatstands," Lee boards, Chairs, Dining Tables, Chests, Writing and Typewriter Tables, Filing and Glass Cabinets,, Wardrobe and Camphorwood Trunks, Cabinet and Portable Gramophones,. Records, Ornaments, E. F., Brass, 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 Electric Refrigerators “Frigi-
daire"
2 Radio Beta
1 1938 Model 11-Tube Philco
Radio Gramophone
1 5-TubePhillips"
working order)
1 Dining Room Suite
TBed Room Buite
Radio
On VIEW from THURSD
MAUNE, 1939.
TERMS: Cash on Delivery.
· LAMMERT BROS.
AUCTIONEERS,
DONT FORGET
THAT WHEN You are at Home
You can get the
HONG KONG DAILY PRESS SELFRIDGES.
No comments yet.
Private notes are available after approval.