1939-08-19 — Page 11

HONGKONG DAILY PRESS

Finance and Commerce

CHINA'S INDUSTRIAL

RECONSTRUCTION

Wartime Policy Explained:

Five Categories

DUSTRIAL

CHINA'S IN CHUNGKING,' AUGUST 18 (CENTRAL)

RE- RECONSTRUCTION DURING THE WAR OF

MR. EU-YANG LENG. SISTANCE WAS REVIEWED BY DIRECTOR OF THE DEPARTMENT OF THE MINISTRY OF

AT BROADCAST SPEECH GIVEN

THE ECONOMICS. IN A CENTRAL BROADCASTING STATION RECENTLY.

The

fundamental principle of China's wartime industrial policy, Mr. Leng explained, is to meet her military needs and Therefore all in. to improve the livelihood of the people. dustrial undertakings are centred

the development of national defence and have their primary objective in the pro-

armed resistance and. motion of the twofold campaign of economie reconstruction.

on

Mr. Leng *nen went on to des-jine shops are making great con- cribe the development of China's tributions to the industrial re- Industrial reconstruction under construction of this country. five categories: Electric Power, Equipment.

Chemical Industry,

Electric Equipment- Electric Equipment. Industry- Mechanical Industry, Electric The purpose of the Government is Textile Industry.

to develop this industry, so as to Electric Power--The polley of attain self-sufficiency in the the Government Is to construct supply of this" necessary equip more modern and well-equipped ment. At present, there are three electric power plants in

im-government-owned- electric equip- portant industrial centres. so ment works which, manufacture that. other Industrial plants could electric" machines, accessories and utilise the power to run their radio parts

further plants and to strive for development at the minimum rate of charge.

Increase In Plant

Their products include conduc- tive wires, non-conductive wires. galvanized tron wires. wires for household

use, vacuum bulbs,

Before the war, there were 28 argon bulbs, tubes for receiving electric

the sets, tubes for sending sets, gen-. motors, transformers, South-west, 5 in the North-west, !erators.

power

plants

in

and 24 in the Provinces of Hunan switches. oll switches. batteries. and Kwange with a total erating capacity of about kilowatts,

gen- 18.000

During the past two years. ..the Government has estab- lished more new electric power plants, namely, 5 in Szechwan, I in Kwelhow, 1 in Hunan, 1 in Yunnan, 2 in Kansu, 1 in Kwangs, 1 in. Sikang and 1 in Chinghai, The generating capacity of the electric power plants in the dif

supplies ferent provinces, which. the

industria!

other

There are 21 privately- owned electrical utility manu- factories which, were removed to the Interior with the assis- tance of the Government. All of them are now in full opera- tion, and their production is under 'Government control, All of them have shown their patriotism In instituting day and night shifts to redouble their production to meet the needs during wartime.

Chemical Industry

of uses

Chemical Industry-As for the establishments, iz 12,955 kilowatts chemical industry the polley of

Im klowatts

Shensi,

in Szechwan, 1.475 kilowatts in the Government is, on the one Kwelchow, 2,340 *kilowatts in hand. to assist those chemical Hunnan, 6,000 kilowatts in Yun-manufactories which were re-

Sikang. moved to

that nan, 220

the interior so 2.370 kilowatts in

1,000❘ within short time they can kilowatts in Kansu, and 100 kilo- resume their work with greater. watts in Chinghai, totalling 26.- success, and, on the other, to 340 kilowatta.

a

utise, the resources at their dis- when posal in the interior to construct The generating capacity,

days, is more new plants so as to lay the compared with pre-war

cent. increased by 157 per

But foundation for the general devel- the generating capacity does not opment of the industry. Include that produced by other Among the Government-owned electric plants managed by private enterprises are two alcohol. distil- concerns with Government finan-leries and one vegetable oil press- Soing plant which can produce in cial and technical assistance. 'with the rapid construction of 1939 sufficient alcoho and

new electric

plants, we gasoline-substitutes to supply a can say definitely that the gen- part of the trucks and motor cars erating capacity decidely far used in this country, while the greater than 26.340 kilowatts. production in 1940, will double that

of 1939.

power

Present

In-

Policy

Machine Mechanical and dustry The present policy of the Government is, on the one hand, of the na- to meet the needs tional resistance. and, on the

attain other, to

self-sufficiency machines to

In the supply of the ordinary industrial plants in

are in

"

H. K. STOCK

EXCHANGE

It has to be reported that the week's activities have not been of an exacting nature. The turnover has been of only moderata dimen- sions and were showing incipient signs of improvement until the re- tum of unwanted visitors to the countryside immediately beyond Jour borders in the hinterland. A noticeable feature of the market has been that in two or three cases where shares have.. moved from the nominal column to the active columns, in those instances where prices have not remained steady, a slight advance has been registered. Closing tone quiet.

BUSINESS DOWN DURING THE WEEK A.K. Bank, cum. div. $1,305. H.K. Bank. Ex. DIV. $1265, $1260.

$1255.

Union Insurance,

$382).

$380,

$382,

China Underwriters, $11. Docks, 316į, $16.20, $16‡. Providents, $4.15. Hotels, $4.80.

Tramways, Com. Dlv, $1#70, Tramways, Ex. Div. $ıb.20, China Lights (0), $7.90. $8. Electrics, $541, Cements. $12. Dairy Farms, (0); $201. Dairy Farms, (N), $191, $191. Watsons, $7.90,"*

H.K. Govt. 4% Loan, 103. Ewo Cottons, $18.60.

CHANGES 4 PM. (CLOSING QUOTATIONS)

BUYERS

HK, Lands, Debentures, par. Canton Ices. $1. Cements, $12.60. HK. Govt, 4% Loan, 102). H.K. Govt. 34% Loan, 99).

SELLEKS

H.K. Fires Ins, $180.

: SALES H.K. Banks; $1255. Providents, $4.15. H. & S. Hotels. $41. HK. Lands, $321. "China Lights (0), $7.90. China Lights (N), 54.90. Cements, $12.80.

HK. Govt. 31% Loan, par

PHILIPPINE GOLD MINING QUOTATIONS

Friday, August 18, 1939.

Centavos.

Atoks

Big Wedge

Coco. Grove ..... Consol, Mines

Antamoks

10; ...... 201

Baguio Gold Batong Buhay- Benguet Consol,

..19.

013

10.50

20

200

0015

Demonstrations

081

I. X. L

42

Itogons Mining-

221

Mambulao Consol

06)

Masbates Consol

10

Mine Operations

121

North Camarines

22..

Paracale Gumaus....

154

San Mauricio

Surigao Consol. : ...................

211

Suyoc Consol,

13)

Syndicate Investment United Paracales Mindanao Motherlode

028- 301

084

|HONGKONG

SHAREBROKERS

ASSOCIATION

Volume of Eusiness Traisacted on Friday, Aug. 18, 1939. H.K. Docks

20 $16.30 -200

7.90

It is planned to establish alcohol- distilleries in Szech- wan, Yunnan, Kwelchow afd Kansu, etc.," to increase suf- ciently the production to meet the needs of liquid fuel,

New Sites In Interior Besides this, the Government is the country, At present. the also preparing to establish coal government-owned machine shops low-temperature distillation, coal

full operation. During hydrogenation, ammonium sul. China Lights (0) the present year, the works pro-phate, sodium chlorate, celluloid HK. Lands duce steam turbines, gas engines, and several other important HK Hotels machine 'tools, tea-roasting ms- chemical plants in thé south- chines, airplane parts and other western provinces. It is expected military and" transportation that within one or two years, they equipment.

will be put into operation and These works are run on a large produce a considerable amount of assistance to the mills operating scale

in the province of Yunnan, and and could therefore be important chemical, products. counted upon to produce large quantities of machines for home consumption.

As to the privately-owned Govern- machine shops, the ment has spared 'no .. efforts them encourage-

Cementa Ewo Cotton

400 32.50

500 4.50

600 12.80

800 18.20*

As to the 38 privately owned hope to increase their total spin- chemical enterprises, removed to dies from 5,000 to 20,000 in the The cotton mills in the Interior with the assistance of near future. the Government, they are now all the Northwest contain 110,000 situated in the southwestern pro-spindles and 1,800 loomis, vinces and are in full operation.

* Many Loest Mill, The most famous chemical plants Besides the above-mentioned

which

are comparatively assistance.

auch as Yung Li Chemical Com-mills A "majority" among those fac-

pany of Pakow and the Ten Yuan large ones and removed from the tories 'which received finan-

Chemical Company of Shanghai commercial cities near the coast, cial assistance from the Gov- have now been re-established on there are many local mills, all in ernment during their

their new sites in the interior with full operation day and night. a large capacity.

In respect to other categories of moval to the interio

Fifty-Nine Milis

the textile industry, such machine shops.

to give ment

and

were

25

All of the 134 shops. removed Textile Industry-Due to the woollen, ramie and silk' mills, the to the interior with the assis-efforts of the Chinese industrialiste Government loses no time to the assistance utilise the local raw materials by tance of the Government are now themselves and In full operation. Bome of them from the Government, no less setting up factories to produce manufacture. military supplies, than 59 mills have been removed fabrics for civilian clothes as well while others produce more produc- and are now re-established in the as for military uniforms. tive machines, such as prime mor interior. Chungking in the south-

Besides the above-mentioned -

ers, working machines and tools, wreat and Pacchi in the Northwest five principal industries, other in- transportation equipment, nails, are two centres of the Chinese needles, wires and cans,

All machines used in the new- 17-established alcohol distilleries, vegetable oil pressing plants and paper mills are manufactured by these machine shops..

And they havé proved to be quite satisfactory. So these mache

wartime textile industry

The cotton mills located in the Bouthwest possess 140,000 - spindles and 1,300 looms. Some of them are also squipped with bizaching and dyeing planta fo turn out 300 pieces daily, The Goverment is also giving

dustries such as vegetable oil, tim ber, paper, cement, flour, sugar and medicine have been drawing equally keen attention from the Government. It is predicted with certainty that these industrien, under the guidance of the Gloves- ment, will make great progress in the future.

FINANCE

WEEKLY RETURNS AND REPORTS

11

Public Deposita Other Deposits:---

Bankers

BANK OF ENGLAND

Other Accounta

[Total

Coverities;-

Other

· London, August 17 (Reuter).

Aug. 3

Aug 10

*

£

31,450

27,480

31,650

35,930

$4,730 35,720 C

117,580

190,450

Securities

114,530

111,640

securities

21,830"

23,550

Discount & Advance

5,950

5.910

Total

27,480

39,400

26.230

34,050

247.100

347.340

·521,880

312,990*

16.83%

148/6

23.13

148/7

Notes and Coins

Total Bullion

Notes in circulation

Radio of Reserve to Liabilities

Price of Gold at which holdings are valued

FEDERAL RESERVE SYSTEM

Bills Bought

New York. August 17 (Reuter). Aug. 10 Aug. 17

(000's omitted)

US: Securities held

Federal Reserve Ratio

Federal Reserve Credit Outstanding Monetary Gold Stock Industrial Advance

1,000 2.443,000

85.50% 2,467,000

16.270,000

1,000 $2,473,000 86.61% 2,453,000 16.335,000

11,655,000

11,615,000

CHINA'S CURRENCY |

POLICY WILL NOT

BE CHANGED

BRITISH MOTOR

CAR EXPORTS:

RECORD TOTAL

CHUNGKING, Aug. 18. (Reuter -Rumours that, the Chinese Gov-ports of British motor cars

and

ernment is considering the issuing chassis during the seven months

SATURDAY, AUGUST 19, 1939. -PAGE 11

PUBLIC AUCTION. LAMMERTS' AUCTIONS

THE

HE Undersigned have' received

instructiona

to sell by

PUBLIC AUCTION

TUESDAY, the 22nd AUGUST, 1939

Commencing at 11.00 a.m.

J

At their Sales Room. No. 33 Hankow Road, Kowloon.

A QUANTITY OF VALUABLE HOUSEHOLD FURNITURE,

also

10 Boxes British Tinplates

3 Reels Newsprint Paper

Terms: Cash on Delivery:

LAMMERT BROS

AUCTIONEERS.

LONDON, Aug. 18 (BWS-EX LONDON STOCK

EXCHANGE: PRICE There SHOW DECLINE

record

of a new currency are categorically ended July 31 reached a denied by a spokesman of the total of 49,234 vehicles. Ministry of Finance.

were 8,368 trucks, buses and trac itors also exported.

He described such reports as

The total value of motor export "without foundation" and added trade during the period was over that the Chinese Government's polley for maintaining the Nation- al currency remained unchanged,

BROKERS' LOANS

New York. Aug. 17 (Reuter). Loan on securities to brokers in New York:--

Week-ended

August 10 $484,000,000

Week-ended

August 17 $525,000,000

£9,000,000.

LONDON, Aug. 18, (Reuter)-On the London Stock Exchange prices generally declined owing to the absence of buyers who are unwilling to operate pending a

the European

Losses

small,

Foreign industrial and financial clarification of circles, particularly British and situation. American, are said to be greatly

were, however, Interested in the development of with the market closing steadier industrial enterprises in the south- at lower levels.

Wall Street was easy, west provinces. Negotiations have been opened with the Chinese Government of the purpose. Latent and petroleum are attracting the mineral résources in Yunnan "and attention of these foreign industrial Kwelchow, such as gold, silver, and Anancial circles, the report copper, Iron, and tin deposits, coal states.

BREWERY

te

PUBLIC AUCTION.

THE Undersigned have received

instructions"

to sell by

PUBLIC AUCTION

"

*

SATURDAY, the 19th AUGUST

1939

Commencing at 11.00 a.m.

At their Sales Room, No. 2 Can- naught Road, Central (Room No.- 205, 2nd Floor).

A FINE SELECTION OF BRUSSELS CARPETS

also"

3 Cash Registers

On VIEW from FRIDAY, the 18th August; 1939..

Terms: Cash on Delivery.

LAMMERT BROS.,

AUCTIONEERS.

446

A Job?

LIM

UB

噢

SHANGHAI

TED

WANT ADS

BEER

Sole Agents:-W. R. LOXLEY & CO. (China) LTD