1939-06-23 — Page 13

HONGKONG DAILY PRESS

BANKS

HONGKONG & SHANGHAI THE CHARTERED BANK OF

BANKING CORPORATION

Authorised Capital........

$50,000,000

Issued & Fully Paid Up $90,000,000

Reserve Funds:

.: Sterling

INDIA, AUSTRALIA

AND CHINA -- corporated by Royal Charter, 1859.

Paid-Up Capital

£6,000,000 Reserve Fund

$90,000,000

Head Office: HONG KONG

£3,000,000

£3,000,000

H.K. Currency Reserve $10,000,000 Reservo Liability of Pro Reserve Liability of

prietors

£3,000,000 Proprietors.

HEAD OFFICE: LONDON: 39, Bishopagate E.C.2. Sub-Agencies In London: 117/122, Leadenhall Street, E.C.3

at West End Branch: 14/18, Cookspur Street, B.W.1. Manchester Branch:

Board of Directora:

A. L. Shields, Esq.,

W. H. Lock, Esq.,

Chairman.

Deputy Chairman.

Hon. Mr. J. K. Bousfield,

A. H. Compton, Esq.,

Hon. Mr. S. H. Dodwell,

D. F. Landale, Esq.,

G. Miskia, Esq.,

Hon. Mr. T. E. Pearce,

K. S. Morrison, Esq.,

'H. V. Wilkinson, Esq.,

Sir Vandeleur M. Grayburn,

52, Mosley Street, Manchester, 2.

AGENCIES AND BRANCHES:

PENANG

HARRIN HONG KONG, RANGOON

Chief Manager. CVS BEST KUALA

H. K. STOCK

EXCHANGE

A few more enquiries were being made during the day, but trading continues on a very small scale.

BUYERS

KK. Bank, $1920. Providents, $4,60.. K.K. Tramways, $16). China Lights (O), $8.20. Canton Iges, #1.." Dairy Farms Ex. Rts, $21). Watsons, $8.40. HY Gòn 45% loại 15% Dịch

SELLERS

HK. Banks, $1350, Canton Ins $230 Union Ins.. $460. HK. Fires Ins, $185. HK. Electrics, $56. Dairy Farma Ex. Ris.,

SALES

·H.K. `Bank, $1340/43. HK. Wharves, $108. HK. Lands, $361,

H.K. Tramways, $161/60. Dairy Farms Ex. Rts, $211.

PHILIPPINE GOLD MINING QUOTATIONS

Centavos

26

21

23 10.80

FINANCE

A!: ཟད་

CHINESE BANKS

DECLARE 3-DAY MORATORIUM

SHANGHAI, June 12 (Reu- ter)-It is learned that Chi. nese banks this morning' will declare three-day mòra- torium by suspending al transactiona.

*

It is learned that "the reason fór, this is to endeavour to force foreign banks to sell foreign currency more freely and thus raise the exchange value of the Chinese dollar.

COMMODITY PRICES

The upward movement in cóm- modity prices made further pro- gress in April, the sise being re- flected in The Statist index năm-: ber by a rise of 1.7 per cent. upon March, and the number, at 90.5 (1888-77-100) is now only 32 per cent. below the corresponding

period of last year.

-FRIDAY, JUNE 23, 1939. --PAGE 13

PRESIDENT LINER

Sailings

July 4th 6 13.0t AM July 29th at 10.00 AM

FOR SAN FRANCISCO & LOS ANGELES via SHANGHAI, KOBE, TOKOHAMA and HONOLULU 88.-" PRESIDENT CLEVELAND Sails, June 30th at 19.0K A.M. 88. " PRESIDENT PIÈRCE” 8.8. “ PRESIDENT COOLIDGE *** SS" PRESIDENT TAFT ***** ES. " PRESIDENT CLEVELAND” 88 PRESIDENT PIERCE “

AND FORTNIGHTLY THEREAFTER

Aug. 12th at 8:00 AM..

"

Aug. 20th at 8.00 4. M. Sept. 9th at 400 FM.

FOR NEW YORK & BOSTON

vis SUEZ

Both the' foodstuffs and the material: groups contributed to this rise, decisively so in the case of the latter. In the foodstuffs group, however, which in aggre- on gate rose by 1.1 per cent March, the vegetable food section fell back by 49 per cent due to a weakening in' potato, maize and four' prices

& against

slight hardening in wheat, four and rice. While animal food also showed

· 8.8. # PRESIDENT MONROE” control a moderate rise of 1.3 per cent. principally due to the strength of | mutton prices, the main factor in the upward movement came from the plantation foods section, where the inauence of the sugar shortage on prices was fully reflected in the Index Tea was also firm, but cof- fee gagged.

better

Market Excited The first result of the action of the Chinese banks was seen in the open market rates, which im mediately after the opening. turned very firm, with sellers at cash than, at rates.

Sterling sellers at "cash. § 17/32 and United States dollars at 12 3/4. +1

+

The market is generally excited, but hitherto there has not been much movement in the rates.

Restricted Withdrawals Referring to the three-day moratorium by Chinese banks, the banks.. on the crders of the

Finance in Chung Ministry of oos king. have restricted withdrawals

|to $500 weekly.

· ALOR STAR

AMRITSAR

BANGKOK

BATAVIA

(LOILO IPOH

SAIGON

BOMBAY

KARACHI

SEREMBAN SHANGHAI

CALCUTTA

KLANG

AGENCIES: FOSF

SINGAPORE SITIAWAN BOURABAYA

FAIRLI PLACK

CANTON

LUMPUR

TAIPING

Atoks

Branches:-

CAWNFORE

KUCHING

TIENTSIN

Antamoks

Amoy

Ipoh

Penang

CU

MADRAS

TONGKAH

Baguio Gold

Bangkok

Johore

Batavia

Kobe

Rangoon Saigon

COLOMBO

MANILA

(Bhuket)

Benguet Consol.

DELHI

MEDAN

Bombay

Kowloon San

HAIPHONG

NEW YORK

TSINGTAO" YOKOHAMA

Big" Wedge

21

Consol. Mines

Calcutta

Kuala

Canton

Francisco HAMBÚRG

HANKOW

PEIPING

}

Demonstrations

Chefoo

Ipo Gold.

171

Colombo

Lyons

Itogons

.24

Dairen

Malacca

Manbulno Consel.

98

Foochow Manila

Masbates Consol.

111

Haiphong Muar

Swatow

Mine Operations

14

Hamburg (Johore)

Tientsin'

211

17

Tsingtao

96

20

14

Ad

Lumpur, Shanghai

London Singapore

Sourabaya Sungei

Patani

Hankow Mukden Tokyo

Harbin New York

Hongkew Peiping Iloilo

Yokohama

(Peking)

FOREIGN EXCHANGE and General Banking Business transacted.

CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods in Local or Other Currencies at rates which will be quoted on application.

SAVINGS ACCOUNre also opened in Local Currency and Sterling with interest allowed at rates obtainable on application.

1

CURRENT ACCOUNTs opened in LOCAL CURRENCY and FIXED DEPOSITS received for one year or shorter The Bank's Head Office in London periods in Local and other Cur-undertakes Executor and Trustee rencies on terms which will be business, and claims recovery of quoted on application.

British Income Tax overpaid, on

ALO up to date Sare DEPOSIT terms which may be ascertained at

any of the Agencies and Branches. Boxes in various sizes To Lar

R. A. CAMIDGE, Hong Kong, 5th June, 1839,

HONGKONG- SAVINGS

BANK

"The Business of the above Bank is conducted by the HONGKONG & SHANGHAI BANKING COR- "PORATION. Rules may be obtain-

ed on application.

For the HONGKONG & SHANGHAI BANKING CORPORATION,

V. M. GRAYBURN,

Chief Manager. Hong Kong, 28th Feb., 1999;

BANK OF EAST ASIA, LIMITED

Authorised Capital......$10,000,000.00 Paid Up Capital 5,598,600.00 Reserve and Undivided

........ 2,883,932.01

Profits

Head Office:-HONG KONG

No. 10 Des Voeux Road, Central,

Board of Directors:

Bir Shouson Chow, Chairman

Li Koon Chan, Esq. Li Lan Sang, Esq. P. K, Kwok, Exqj

Wong Chu Son, Eq.

Wong Yun Tong, Esq. Kan Ying Po, Eag Chan Ching Shok, Eay. Fang Ping Wah Esq.

Kan Tong Po, Esq., Chiet Manager, Li The Fong, Esq, Manager,

Amey

Baieris

Bombay

Branches and Agencies:-

Calostia Balphong

Haskow Homolal Lobe

Kowloom PLOK

Loudon Bangoon Boarabey's

Manila..

BalFOR Swałow

Melbourne Ben Frais. Sydney

Xagus

cisco Testin

Jew York Beattie Vancouver Parta Polping

Betournoy Shanghai

THE.CHASE BANK

North Camarines Paracale GumLUS-

San Mauricio Surigao Consol, Suyoc Consol.

United Paracales

PHILIPPINE GOLD MINING

QUOTATIONS

Thursday, June 22, 1939.

Atoks"

Consol;-Mines

Market Report

"FROM ROZA BROS

Silver prices dropped 1/8 yes. terday for both deliveries, the quotations being 19 for Ready and 13.13/16 for Forward. Silver ad- vices reported American Trade as |having bought. There were some Speculative and Eastern selling. The market was steady with amall- buyers At the

quoted rate. American Silver was quoted at 42 13/4 for Spot.

The London/New York, cross-rate was quoted at 468,12., New York/ London was quoted at 468.1/8

Market

Opened uncertain with indica tions of easiness but subsequently Parmed up

owing to lack of de-

Centavos

Antamoks

21

26

Bagulo Gold

93

Manager.

Benguet Consol.

11.80

Manbulao Consol

$..

0025

Demonstrations

Big Wedge

21

Itogons

24

Masbates Consel.

111

Ipo Gold

17A

Mine Operations

14

Paracale Gumaus

17

San Mauricio

96

14

43

22

.271.

15, QUEEN'S ROAD, CENTRAL

HEAD OFFICE:

18, PINE STELST,

NEW YORK. An American Bank offering com- plete Foreign Banking Service in the principal Markets of the world.

Interest Rates on Application,

SAFE DEPOSIT BOXES

This Bank is entirely owned by BAKK, THE CHASE "NATIONAL NEW YORK, with Resources over U.S.§2,300,000,000.

D. M. BIGGAR,

Sacond Vics Pres.

U.S. COTTON TRADE

Export Subsidy Difficulties

Suyoc Consol

United Paracales Surigao Consol. North Camarines

Market Comment,-quiet.

Weekly Rubber Report

REYNOLDS & GIBSON WHEAT

Liverpool, June 6. Liverpool-Prices after remain

mand.

Sterling

י י,

In the materials group minerais were on balance higher, though the export price of coal was again lowered, but tin was very strong and lead advanced, though copper prices fell off,

The textiles section showed a re- markable rise of 5,8 per cent, "to which cotton, fax, hemp, suk.and particularly jute all contributed, though wool was somewhat quieter.

Prices showed little change in the sundry materials section; the small rise being mainly accounted for by the further advance in timber.

MORE FINANCIAL AID FOR CHINA FROM BRITAIN SHANGHAI June 21 (In7)-- Whatever reprisals Great Britain makes

the against

Japanese blockade at Tientsin may be coupled with increased financial assistance to China, reliable sources stated to-day.

British officials were understood to be considering moves to "thaw" The market opened with sellers frozen credits of 3.000.000 pounds at 1/2.3/4 for June with business earmarked to finance Chinese pur- done at 1/2.25/32 July. The mar-chases of British supplies, triclud- ket then steadied up and business ing war materials. Britain pre- was done at 1/2.13/18 for cash. viously refused to release this The market closed at 1 pm, with money without further Chinese sellers at 1/2.13/16 June/August, guarantee. 1/2.25/32 September/October and "Diplomàtic advices reaching here 1/2.3/4 November/December buy-last night were understood to have ers at 1/2.27/32 Cash, 1/2.13/16 indicated Germany and Italy were October and probably 1/2.25/32 strongly tempted to take ad- December.

vantage of the Anglo-Japanese- quarrel and precipitate some new European crisis in the near future without waiting for the autumn harvest season as earlier expected

RESERVE BANK OF

for INDIA STATEMENT

U.S. Dollars Opened with sellers at 28 13/18 leading to business later at 28/a for the first half of Jüne and July. The market closed at 1, p.m. with sellers at 28 7/8 June/ July and 28 13/16 August, probably ing steady prior to the Whitsun- September, buyers at 28 15/16 for tide recess have shown a sagging cash and 28 7/8 first half of tendency during the past week August. and finish 2 d. to lid, down `com-

Shanghal Dollars pared with those shown in, our cir

Opened at 227 nominal, but cular of a fortnight ago. The de- cline has been mainly due to gradually dropped. the rate to- cheaper shippers' offers, a poor wards 1 p.m. was quoted at 213

sellers. demand and slightly more favour- able crop reports from the USA Far Eastern demand for both Aus-

Afternoon Market

The market was a shade easier in the afternoon.”

Sterling

Calcutta, June 21 (Reuter),

June 9 June 16 Notes in circulation (including Notes held' in the Bank- ing Department). 20,791 20,878 Rupee Coin and Bul--

lion in India 6,065 6,751 Gold Coin and Bul-

4,154 4,154

3,734 -3.734

5,950 5,950

lion in India Securities

"Government)" Securities

Government)

(Indian

(British

CONSIGNEES' NOTICES

Shangha; Market WASHINGTON, June 22 (Beuter)

Opened at 81/2 but Armed up ́ --Congressional cunferees reached partial "agreement on the Agricul- tralian wheat and four continues gradually. The highest rate done tural Appropriation Bill by accept-good while, according to the press, was 7d and the lowest rate re- kng $225,000,000 for parity pay. Italy has concluded a barter arceived was sellers at 6.31/32 for ments, while the additional con- rangement with the Argentine Spot."" troversial $113,000,000 for crop sur whereby the Italian Government Every description of Banking and plus removal will be submitted to undertakes to purchase about 300,-

000 tons of Plate, wheat. Exchange business transacted. Loans House vote together with a

Both the US. Winter and Spring granted on approved securities number of smaller ones.

Current Accounts opened in Local

Senator Bankhead said that the belts have received good general Currency and Fixed Deposits ze agreement includes a compromise rains and deterioration has been ceived for one year or shorter periods in Local and Foreign Cur. on the cotton export subsidy ques arrested in practically all areas. A small business was done at rencies on terme which will be tion, subject to the House vote, by In some parts of Texas, Oklahoma 1/2.13/16 for August and then market closed with quoted on application.

which one halt of the total avan and Southern, Kansas harvesting is July. The

and early "receipts sellers at 1/2.25/32 June/Angust, SAFE DEPOSIT BOXES TO LET. able for cotton from the $113,000-progressing

000 will be utilized to increase show good quality. The average 1/2.3/4 September/October and November/December, Chief Manager domestic cotton uses, while the of private estimates for. Winter 1/2.23/32

balance could be used as the wheat was 516 million bushels buyers at 1/2.27/32 Cash, 1/2

compared with the last Govern- 13/16 August, 1/2.25/32 November SteamODER Secretary for Agriculture sees fit. ment "estimate of 543,928,000 and probably 1/23/4 January.

bushels. The average of private estimates for Spring Wheat was

KAN TONG PO,

BANK OF CHINA

Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE

BANK

Senate Apprʊyni

The Senate speedily approved of the Conference report on the Agricultural Appropriation. Bill

U.S. Dollars ·

The market closed with sellers 184 million bushels compared with at 28 13/16 June/July 28 3/4 last year's final estimate of 244 August and 28 11/18 September,

million bushels. -

Shanghai Deller

leaving now only a House vote on the aforementioned items, which

In Canada the Prairie Provinces July and 28 18/16 September. ces July and 28 13/16 September. will possibly be made to-morrow.

have experienced drenching rains A message from New York adds and the plant is rooting Armly that Cotton trade circles assume American wheat shipments un- that roughly $30,000,000 might be der, the subsidy plan will be com- available for the cotton

export pleted in the near future and this

236,"

NORDDEUTSCHER LLOYD BREMEN.

having arrived from... BREMEN, HAMBURO and Porta consignees of cargo are, bereby notified that there is being landed at their risk into the godowns of The Hong Kong & Kowloon Wharf &

Godown Co. Ltd. Kowloon, Where

delivery can be

* All goods remaining undialirered fer PAID-UP CAPITAL $10,000,000.00

the 30th June, 1989, will be subject (BRANCHES ALL OVER CHINA)

to rent. Shanghai Market Owing to our numerous Branches

NO FIRE INSURANCE will be in Chine and connections in the subsidy under the compromise should lead to an increased de- sellers at 6.1/2, for July and 6.1/8

Last advices received indicated | affected by us in any case whatever. -

Damaged packages must be left in the principal Commercial Centres of the World, we are able to extend mentioned above, unless it to alter mand for Argentine which may in July. U.S. Dollars 12.11/16 June. godown for examination by the con to our Clients special facilities for by action of the House.

signees and the Company's surreyors,

Anderson & the 19th June, 1929, 120, at 10 am, on Consignee must have a Hevenue in attendance when damaged dutisble goods are examined by the Company's surveyors.

Domestic and Foreign Banking and Exchange,

Head Ofice: SHANGHAI

Hong Kong Branch:

4, QUEEN'S ROAD, C.

South China Officer:

CANTON SWATOW SHTUCHOW

KONGMOON, TOISHAN KINGCHOW

SILVER PRICE

PROBLEM

WASHINGTON, June 32 (Reu-

turn induce them to hold for 12 July. Easy for Spot, weak for higher prices.

forward: Stocks of wheat In Liverpool: This week 880 loads, last week 708 loads,

buying and demand broadened but Chicago The wheat loan pro-later news of good rains brought ter)-It is reported in Benate gramme for 1939 18 substantially heavy selling quarters that President Roosevelt the same as that of last year but Winnipeg At Arst the market is unwilling to promise an in- is expected to run a few cents was higher on covering and fresh crease in the silver price of do- Higher. This news imparted early buying but later reacted under mestic newly-mined efter June strength to the market the trade local and Canadian Wheat 30 as requested by the silver fearing that the higher Govern- selling and on the news

ment loan wouking rich

We also handle the issue of Bonds other Public Funds of the Chinese Government both at Home dealers,

The inquiry was made in an movement of new wheat to maz. have and Abroad,

hot effort to break the delaying tac- Rep

the South

SHOU J. CHEN

Weather

bee

howey

good mo

Ko claim will be admitted after the

code hare left the god and all. Belaims must be presented within Two works of the saphamval hire after which date they will nat

· 8.8. * PRESIDENT GARFIELD,

Saila July 8th at 12 Nour

*

July 10th at 19 NOON

AND FORTNIGHTLY THEREAFTER

༣

FOR

MANILA

www p

July 7th at 1.09 A.M.

8.5. “ PRESIDENT CLEVELAND" Sails June 23rd at 1.00 P.M. 88. " PRESIDENT PIERCE- 'S.S." PRESIDENT GARFIELD" S.B." PRESIDENT COOLIDGE"

July 8th at 19 Noor

July 21st at 8.00 P.M.

AMERICAN PRESIDENT LINES

ROUND WORLD SERVICES

12, PEDDER ST.

TEL. 28171.

THE CHINA-SIAM LINE.

... "HELLAS

HONG KONG-BANGKOK

leaving Hong Kong

28th June via ́Swatow

HONG KONG SWATOW-AMOY 12.8. "HAI HING" leaving Hong Kong 24th June Accepting Passengers & Cargo for all the above metioned porta.

HONG KONG-SINGAPORE-PENANG

יו

Regular Express Service

RANGOON

Soth June.

ma. "HAI HING" leaving Hong Kong

Accepting cargo for all the above mentioned ports,

Excellent passenger accommodation available.

For freight, passage rates and all other information-Apply to - THORESEN & CO., LTD.

Tel 30237.

General Agenta.

Queen's Building.

THE BEN LINE STEAMERS, LTD.

S.S. "BENLAWERS”

Sailing for LONDON, ROTTERDAM, ANTWERP, HAMBURG and LEITH on or about the 9th July, 1939.

Cargo will also be accepted on through Bill of Lading to the usual transhipment ports.

For Freight and Passage apply

to the Agents

W. B. LOXLEY & CO., (CHINA) LTD.

Tel 34165

CONSIGNEES' NOTICE.

THE BEN LINE STEAMERS, LTD.

From LEITE, MIDDLESBRO, ANTWERP, LONDON AND STRAITS,

THE 8.8. BENVENUE,"

York Building

CONSIGNEES' NOTICE.

THE BEN LINE STEAMERS, LTD

FROM LEITH, MIDDLESBRO, ANTWERP, LONDON AND STRAITS

THE 88. BENLEDI"

CONSI

JONSIGNEES of Cargo are hereby informed that all Goods are being YONSIGNEES of Cargo are hereby landed at their risk mato the hazardou

informed that all Good and being and/or extra hazardous Godown of landed their Fiak, into the hazardous the Hong Kong and Kowloon Whart and/or extra hauedou Godowns of the and Godown Co., Ltd, whence and/or

Hose Hose a Kido de adfen obtained, as Delivery, most be from the wharves Delivery maybe No Claims will be admitted after the

GODOWN COMPANY, Lao, and/or

obtained.

PM Goods have left the Godown and *No China vil be admitted after the Goods remaining undelivered afte Goods have left, the Godowas, and All 24th Juno,[1939, will be subject to Goods remaining undelivered after the rented 28th June, 1939, will be wobject to rent, All Clasme against the steamer must. All Claims against the Steamer met be presented to the undersigned, on or

he presented to the Undersigned, on or before the 8th July, or they will not

12th

recognized, TERMAS

betere the raise huly, 190, or they will be to comply with the General Bonded

To comply with the General Bonded Warehouse Begulations, consi Warehouse Regulations, consignees must have a Revenue Officer must have a Bevents Officer in alien dance when damaged dut

dutiable goods are examined. ingeben damaged are examined th

All broken, phatod and MyAll brokem, ahated and damaged Goods @cods are to be left in the

was to be left in the Godowns, where where they will be eramined they will be examined on the 26th June, 2nd June, 1938, at 9 cm. by 1930, at Fa.m.; by Metra. Carmichael | Carmichael à Clarke

& Clarkes No Firelinedance has

to Fire Insurance has

Conflens are requested to surrender undersigned

100.

SEM VAR Aars Arsected Bills of Lading will be countersigned

W.BLOKLEN, CO (CHINA) 14.

美

Hong Kong, 3lb

R LOXLEY

Hong Kong

COM