1939-07-10 — Page 13

11

MUNGKONG DAILY PRESS

BANKS

HONGKONG & "SHANGHAI THE CHARTERED BANK OF

BANKING CORPORATION

Authorised Capital... $50,000,000 Issued & Fully Paid-Up $20,000,000 Reserve Funds:

E 8,500,000 Sterling H.K. Currency Reservs $10,000,000 Reserve Liability of

Proprietora

20,000,000

Head Office:-HONG KONG

Board of Directors:

Chairman.

A. L Shields, Esq.,

W. H. Lock, Esq.

"

Hon. Mr. J, K. Bounfeld,

A. H. Compton, Esq.,

Deputy Chairman,

Hon. Mr. S. H. Dodwell,

D. F. Landale, Esq.,

G. Miskin, Esq.,

K. S. Morrison, Esq.,

Hon. Mr. T. E. Pearce,

H. V. Wilkinson, E.

Sir Vandeleur M. Grayburn,

INDIA, AUSTRALIA

AND CHINA Incorporated by Royal Charter, 1853

Paid-Up Capital Reserve Fund Reserve Liability of Pro-,

prietors

SHARE MARKET

REVIEW

HONGKONG SHAREBROKERS' -

ASSOCIATION

There has been little change in the market during the week. Apart from isolated sales, which in some

xive way slightly, business has instances have caused prices to £3,000,000 been very restricted and trading £3,000,000 conditions have continued difficult.

£3,000,000 HEAD OFFICE: LONDON: 38, Bishopsgata E.0.2. Sub-Agencies In London: 117/12 Leadenhall Street, E.C.3. West End Branch:

14/16, Cookspur Street; B.W.I. Manchester' Branch:

59, Mosley Street, Manchester, 2,

ALOR STAR" AMRITSAR

BANGKOK

BATAVIA

BOMBAY

CALOUTTA KLANG

AGENCIES: HOM

AGENCIES AND BRANCHES:

HARBIN PENANG HONG CONG BANGOON ILOILO

BAIGON LFOX

SEBENFAN KARACHI SHANGHAI

SINGAPORE SITIAWAN BOURABAYA TAIPING TIENTSIN

CLITE BEST KUALAN FAILIK PLACE

CANTON

DAWNPORT

Chief Manager.

Branches: Ipoh

Редаль Rangoon

BU

COLOMBO

Batavia

Kobe

Saigon

DELHI

Bombay

Kowloon

San

HAIPHONG

Calcutta

Knala

Amoy

Bangkok Johore

Francisco HAMBURG

HANKOW Lumpur Shanghai

Canton Chefoo London Singapore Colombo

Lyons

Scurabaya Dairen Malacon Sungei Foochow Manila Patani

Swatow Haiphong Muar Hamburg (Jchore) Tientsip Hankow Mukden Tokyo Harbin New York Tsingtao

Yokohama

Hongkey Peiping

Пoiln"..

CURRENT ACCOUNTS opened in

LUMPUR

KUCHING

MADRAS

MANILA

MEDAN

NEW YORK PEIPING

TONGKIR

(Bhuket) TSINGTAO YOKOHAMA

-

FINANCE

Chinese Industries' Losses In

In Shanghai

Kincheng Bank Issues Exhaustive Report

The losses of Chinese txc- CHUNGKING, July 7 (Central) --- torles a Shanghai and its immediate vicinity from the com- August 13, 1937 until mencement of hostilities in that eity on March, 1939, totaled $155,764,000, according to a report of the Kincheng Banking Corporation, a Chinese bank in Shanghai.

There has been a steady demand for HK Banks at $1320 to $1330, but shares have been difficult to obtain. Lands have also comte, In for sustained enquiry at $358.

Of the total sum $85,484,000 re- removed by the Japanese. To-day. Sales have been reported at this

a with the exception of one now figure early in the week, but later presents material damage as no shares were obtainable, Trams

direct result of the three-month operating under a foreign hag, ali after changing hands at $16.65 military operations, while the re- have been seized by the Japanese were wanted at $15.55 without remaining $70,280,000 represents the military and the Japanese shipping sulting

bizsiness. Electrics nggregate capital of 47 native indus-] companies. changed hands at $54. Wharvestrial plants seized by the Japan- at $108 and Cements at $12.50. ese. Watsons were wanted at $8.20 with sales at 181 Hotels were offering

"

Shanghai in future as an indus- trial centre is very gloomy, says the

Other Fadustries There were in the same city fac- Chinese than 210

more

x $5.50 with buyers at $5.4.document, since the general declinatories large and small, manufac

There has been a fair demand for Providents at $4.80. China Lights (o) had buyers at $8.20 with sales at 38.25 Dairy Farms (6) could be obtained at $211 with havers at $21.

ין

Gold mining stocks after display. ing some evidence of renewed activity towards the end of the week appear to have once again (Peking)"

lapsed into a state of lethargy. FOREIGN EXCHANGE and General San Mauricio after gaining 5 ctvs to 92 ctvs closed at 90 ctvs. Ben- Banking Business transacted.

CURRENT ACCOUNTS opened and guet Consolidated improved 50 FIXED DEPOSITS received for One ctvs to Ps 10.50 Antamoks gaired Year or shorter periods in Local or 2 ctvs to 181 ctvs. For the most Other Currencies at rates which part gains have been registered will be quoted on application.

from ctv to 1 ctv. Market closed

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

EXCHANGE FUND POSITION Reference is invited to the state-

Exchange Atao up to date SATE DEPOSIT terms which may be ascertained atment regarding the

any of the Agencies and Branches. Fund published on December 31: 1938, which indicated the position R. A. CAMIDGE,

During the Manager: at June 30, 1938.

that date six months following the Fund purchased a small quan- tity of Sliver Subsidiary Coins to be refined and marketed...

LOCAL CURRENCY and FiXED DEPOSITS

The Bank's Head Office in London received for one year or shorter! periods in Local and other Cur-jundertakes Executor and Trustee rencies on terms which will be business, and claims recovary of British Income Tax overpaid, on quoted on application.

Boxes in various sizes To Let

Hong Kong, th June, 1939,

·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, 4th Feb., 1939.

BANK OF EAST ASIA, LIMITED

บ

Authorised: Capital......310,000,000.00 Faid-Up Capital

Reserve and Undivided

Profita

5,598,800,00

2,883,932.01

Head Office:-HONG KONG

No. 10 Des Voeux Road, Central.

I

Board of Directors:

Bir Shonson Chow, Chairman

Li Koon Chun, Esq. Li Lan Sang, Eng.

Wong Chu Son, Esq. P. 5. Kwok. Esq. Wong In Tong, Esq. Kan Ying Po, sg. Chan Ching Shek, Esq. Fung Ping Wah Esq. Kan Tong Po, Esq., Chief Manager. Li The Fong, Esq., Manager,

Assos Batavia Bombay

Branches and Agencies:

Haiphong

Hankow Homolala Kobe

Kowloon

London

Manila

Bingapors Hangoon Seurabaya SASTOLL Bestow Malbanne Ben Fran«, Sydney

co Teatin Bandila Vancouver Semarang Shargha

Nagsanka"

New York Paris

Priping

Every description of Banking and Exchange business transacted. Losus granted on approved securities

Current Accounts opened in Local Currency and Fixed Deposits re ceived for one year or shorter" periods in Local and Foreign Cur rencies terms which will be

on

quoted on application.

SAFE DEPOSIT Bozza To LET.

KAN TONG PO,

Chief Manager.

BANK OF CHINA

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

1

BANK PAID-UP CAPITAL $40,000,000.00 (BRANDRES ALL OVER CHINA) - Owing to our numerous Branches in Chine and connections in the principal Commercial Centres of the World, we are able to extend to our Clients special facilities for Domestic and Foreign Banking and Exchange.

Head Office:-SHANGHAI Hong Kong Branch:

4. QUEEN'E ROAD, C. South China Officences

CANTON

SWATOW SHIUCHOW

KONGMOON TOISHAN KINGCHOW

We also handle the issue of Bonds and other Public Funds of the Chinese Government both at Home and Abroad

THE CHASE BANK

15, QUEEN'S ROAD, CENTRAL

HEAD OFFICE:

18, PINE STREET,

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 THE CHASE NATIONAL BANK, NEW YORK, with Resources over U.S.$2,500,000,000,-

D. M. BIGGAR,

Second Vice Prei

H. K. STOCK EXCHANGE

•

Quiet conditions prevailed during the morning's short session and a small dealings were only m scale:

BUYERS H.K. Bank, $1330. Union Ins; $410. Providents, $460. HK Lands, $351. HK. Lands, 4 Debentures, par. HK. Tramways, $16). China Lights (Old), $8.15. HK. Electrics, $54.

Cements, $12.80.

Watsons, $8.20, Wing On (H.K.), $41. · HK, Gort. 4% Loan 4% přem. H.K. Govt. 33 Loan par.

SELLEKS H.K. Bank $1350. Union Ins: $425, Humphreys, $81.

SALEB

HK. Tramways, $15.60.

PHILIPPINE MINING

QUOTATIONS

Big Wedge

Consolidated Mines ......

Centavos. 181 0025

Itogon Mining

224

Masbate Consolidated.

10-

Mine Operation

121

Paracale Guramaus

15-

89

San Mauricio

United Paracale ................................. 39

It was not found necessary for the Fund to operate in the local during the exchange market period now reviewed.

On December 31, 1938," the Cer- tincates of Indebtedness outstand

$191,134,887 ing which is equivalent to £11,945,-

amounted to

turing dry-cells, electric lamps. in production capacity is so great that it will take years, possible de-ons, fans, radio sets, torches and of small plants have resumed cades, before the city can regain generators: To-day only a number. Its pre-war statua.

operations, while the larger ones, being located in the Japanese-con- trolled areas, remain closed,

"

Industries Sized Before the war there were, out- side the two foreign concessions, one electricity and water company,

two water

090,000.

To-day

Of the 22 Chinese can-making factories, only six are operating at works and five power present. Chinese enamel-ware fac- plants, all Chinese-owned, Six of tories in Shanghai fared no better. Nantso and Pootung, amounting to $1,000,000. these eight concerns operated in Altogether they suffered losses Chapel, with an aggregate capital of $20.- only four of them are workLIE.

The war losses of the Chinese After the withdrawal of Chinese chemical industry in Shanghat forces from Shanghai in Novem-were also heavy, approximating. ber, 1937. all eight fell into Japan- $6,000,000. Before the hostilities ese hands. The Ave Chinese bus there were 120 chinese chemical companies whose fleets used to ply works producing tollet, articles, the highways linking Shanghai medicine, alcohol and other sup with the hinterland were similarly piles. To-day only a small fraction "taken over by Japanese interests of these factories have resumed

Thelf total capital was $1,225,000.

operation, while two of those within the sphere of Japanese Prior to the hostilitise, there were military occupation have

placed under the 31 Chinese cotton mills in Shang-seized and hal possessing 1,114,408 spindles management of Japanese firms. Twelve of them, capitalized at a Many others are still closed. total of $22,000,000, have been "Not mentioning those with seized by the Japanese. To-day capital or less than $50,000, there there are in operation in Shanghai were 27 large Chinese printing miy 440,217 Chinese spindles, of establishments in Shanghal before which 64,360 are newly installed. the war. To-day, only 14 of these There has been a decline of 59.20 have resumed business. percent in the pre-war number of Chinese spindles.

Million Spindles Loat

Flour Mills Twelve Chinese flour mills oper- ated in Shanghai before the war. The three-month hostilities infict

six

meen

WEEKLY. RUBBER

REPORT

REYNOLDS AND GIBSON

(Per Payne & Co.)

Liverpool, June 27. London--Our market has kept tricts, are still locked out. One of very steady all week, the impend- them, capitalized at $300,000, has ing barter deal contributing to been seized of the Japanese.

930 at 1s. 3d, the middle marketed on them a damage of more rate on that day; the total assets than $800,000. To-day only of the Fund amounted to £13. are operating. Five others, being 035,370 of which 73.00 per cent.located in Japanese-occupied "dis- was held in gilt edged sterling securities, 26.85 per cent. on de posit in London at call or short notice and .09 per cent, in silver. BANK NOTES IN CIRCULATION

Returns of the Average Amount of Bank Notes in Circulation in Hongkong, "during the month ended June 30, 1939, as certified by the respective the Managers of Banks

BANKS.

AVERAGE -AMOUNT.

Chartered Bank of

India, Australia and China...... Hongkong

and

Shanghai Bank- Ing Corporation Mercantile Bank of India, Limited

Total

Cigarette Factories

quietness.

there

exists

Nevertheless, There were altogether 31 Chinese steady demand on cll. terms, but tobacco companies in Shanghai be offers remain scarce, this being at- fore the hostilities. They had a tributed to the paucity of supplies total capital of $18,000,000, and 348 in producing countries.

Now The Malayan Information agency cigarette-rolling machines.

published the following only nineteen of them are working has with only 85 cigarette-rolling ma-monthly up-country agures:-- chines in operation. One tobacco factory has been seized by the! Japanese.

Cement

Production-Malaya Estates of 100 acres and over:

May Apr.

tons tons 1,357 1,262

9,487 8.078

The only Chinese cement works

Straits Settlements 23.060,472 in Shanghal, the Shanghai Part-Fed. Malay Stater....

land Cement Company at Lung Unfed. Malay States 6,935 6,359 hwa, was spared from destruction 211,342.228 during the hostilities but has since

been seized by the Japanese.

4,186,223

238,583,923

Silk Filatures

WAR LOAN CONVERSION

17,789 15,699

Stocks

Held by Dealers:

In pre-war Shanghai 'there were 44 Chinese silk flatures equipped with 10,323 reeling machines, The following statement of the capable of producing 50,000 pleuis Fed. Malay States ... securities lodged with the Crown of raw silk a year. As most of these Unfed. Malay States 2,920 3.401 Agents by the Mercantile Bank Alatures were in Chapel where their the fighting first broke out, the of India, Limited, against notes in circulation, is published damage to the industry as a whole for general information under was extremely severe," amounting Section 5 of the Mercantile Bank to more than $20,000,000. Thirty of the plants were completely destroy- Note Issue Ordinance, 1911, (Or

ed, while three others were partly dinance No. 65 of 1911)-

Security: 41% Conversion War demolished,

2340.- Loan 1940/1944; Amount, 000; Latest market price, 1024-1033.

representing

the The figure average opening selling rate for the month et June, 1939, of the Hongkong and Shanghai Banking Corporation for demand drafts on London is settled at 14.73.

HONGKONG SHAREBROKERS'

ASSOCIATION

VOLUME OF BUSINESS TRANSACTED FOR WEEK ENDING

R.K. Banks

July 7, 1939

20 $1320.00

Trams

700

16.35

to $1325,00 18.65

Lands

100

35.50

Cements

850

12,50

12.50

Star Ferries

100

85.25

Electrics

500"

54.50

Wharves

100

108,00

China Lights (0)

700

8.25

B00

6.25

18000 ES

19

Watsons Antamaks

BHOU JOHEN Itogonis

United Paracale,

1000 PB 22% 10000 Pa

onet

MONDAY, JULY 10, 1939-PAGE 13

PRESIDENT LINER

Sailings

FOR SAN FRANCISCO & LOS ANGELES vis SHANGHAI, KORN, YOKOHAMA and HONOLULU 9.S.PRESIDENT FIERCETM

S.S." PRESIDENT COOLIDGE * AS.." PRESIDENT TAFT"

8.8. ** PRESIDENT CLEVELAND" 8.8. PRESIDENT PIERCE" 3.S." PRESIDENT: COOLIDGE”

Sails July 14th at 1201 AM.

July 28th at 1000 4.M.

Ang 12th at 800 AM

Aug, 18th at 8.00 AM. Sept. 9th at

P.M.

·Sept. 23rd at 9.00 AM.

AND FORTNIKESTLY THEREAFTER

FOR NEW YORK & BOSTON via SUES

8.8. "PRESIDENT MONROE" S.S." PRESIDENT, ADAMS"

S.S.

$8 S.S.

Sails July 20th at 12 Noom ang. 4th at 19 Noox

AND FORTNIGHTLY THEREAFTER

FOR MANILA

PRESIDENT COOLIDGE? "PRESIDENT ADAMS" PRESIDENT TAFT"

AS." PRESIDENT CLEVELAND”

Sails July 22nd at 1.00 A.M.

T

Aug. 4th at 19 NOON Aug. 5th at 5.00 A.M. Aug: 19th at 9.00 AM.

AMERICAN PRESIDENT LINES

"ROUND - WORLD SERVICE"

12, PEDDER ST

THE

CHINA-SIAM

TEL. 28171.

LINE.

HONG KONG-BANGKOK #1. HIRAMTM "leaving Hong Kong 18th July via Swatow BE "HELLAS" leaving Hong Kong 36th July via Swatow HONG KONG-SWATOW-AMOY 0.3 “HẢI HÀNG”. leaving Hong Kong Accepting Passengers & Cargo for all the above metioned porta. HONG KONG-SINGAPORE -PENANG-RANGOON Regular Express Service

1

28th July

Dis. "HAI HING" leaving Hong Kong “st Aug. Accepting cargo for all the above mentioned ports.

Excellent passenger accommodation available.

For freight, passage rates and all other information—Apply 49

THORESEN & CO., LTD.

Queen's Building. General Agents..

Tel. 30237.

MESSAGIERIES' MARITINES

London last Friday evening, the CONSIGNEES' NOTICES articles governing the arrange ments for the exchange of cotton and rubber being fully reported SERVICES CONTRACTUELA DES elsewhere. The agreement must, of course, receive the necessary legislative sanction and much de- tall. till have to be considered by the IRR.C. before the scheme begins to function, but as the articles aigned allow plenty of elasticity-although making strong provision for dealing with the re- serve stocks thus secured there should be no serious interference with the normal working of the markets for several years.As.

Pending further detalls, we do not look for much change from present prices.

Movements of Rubber in London and Liverpool for week ending June 24, 1989.

CONSIGNEE NOTICE.

8.8. FELIX BOU-BEL"

17'A/39.

BRINGING CARGO FROM. MARSEILLES via SAIGON, etc.

ÁR HONG KONG ON WEDNESDAY, THE 57H JULY, 1930

NONSIGNEES are hereby informed

at their goods with the excepti

of Optum, Tressure and Valpakla, k being landed & stored into the Godow of the Hong Kong, Bowbon Whis & Godown Co., Inc. Kowloon, wheele delivery may be obtained immediately after landing.

All claims must be sent in to or before the 16th Joly, they will not be recognized:

Damaged Packages will be exami by the Company's Surreyor, Kaman Goddard & Douglas in the prescion of the Consignees at 10.00 am, on Tuen, day, the 11th July, 1939.

London Landed, 555 tons; De- May. Apr. livered, 946 tons; Stock, 42,598 tops tons tons; Last year, 59,778 tons. Liverpool: 4,200 5,309

Landed 189 tons; Delivered. 855; Stack, 20,775 tons; Last year, 31,307.

New York-This market has shown very little movement during

Consignees must have » Bevens the past week although there has been a fair trade demand. Ac-Officer in atindanos when any data bie cording to cable advices from goods are examined by the Company

No Fire inscrsace will be effected by America, there seems to be a be Burrayora lief in some quarters that the conus in any case whatever. summation of the barter plan will lead to a strengthening of near 'déliveries.

7,120 8.710

Production-Malaya Estates under 100 acres.

May Apr tons tons 705 728 2,843 5,867

3,884 5,403

,,་,*

7.232 11.998

Stocks

Estates of 100 acres and over?

May Apr.

tous tons

3,374 3,441

Straits Settlements At present there are 28 Chinese Fed. Malay States all latures operating in Shang Unted. Malay States hai, including several new established since the war. The total number of recling machines is 4.988, which is only 43 per cent of what the Chinese flatures had before the hostilities,

The 427 Chinese silk weaving plants in Bhanghal before August

13, 1937, had approximately 7,000 Straits Bettlements looms, producing: 160,000 bolts of Fed. Malay States

25,187 25,261.

-44,548 44,675

silk every year. Only 195 of these Unfed Malay States 15,985 15,973 plants have resumed operation. In addition to 82 new ones, there are to-day 277 Chinese silk weaving factories in Shanghai, with 4,318 looms, which represent only 61,60 per cent of the pre-war number.

Shipbuilding

Some interesting comments or the present, altuation were made by the Chairman at the annual- meeting of Allied Sumatra Planta- tions, Ltd last Wednesday. These Chinese ship-building were fully reported in the press, The 180 companies in Shanghai which did and are informative in giving the a thriving business before the war standpoint of producers prior to sustained a loss of more than $16, the dermite inauguration of the 000,000. Bituated on both sides of barter scheme. However, despite the Whangpoo River, many were opposition from many quarters, shelled or bounded during the hos the agreement between the goy- tilities

The machinry that reernments of the United Kingdom mained intact was systematically and the BSA was duly signed in

·B. OHL

Agent. Hong Kong, 5th July, 1959.

MOVEMENT OF GOLD AND SILVER

GOLD

Total EXPORTS from the United Kingdom Including: To the United States

gisin

The Netherlands

France

Total IMPORTS Into the United Kingdom Including: From British Af

Francer British Indi Bouthern Rhodesia Pert

Total EXPORTS from the Unit Including: To the United States

Total TIPO

Including:

ndon, July 1- (Blastber)

Week ended Week ended

June 28

dom

18.000

July 3