1939-08-28 — Page 13

HONGKONG DAILY PRESS

BANKS

HONGKONG & SHANGHAI THE CHARTERED BANK OF

BANKING CORPORATION

INDIA, AUSTRALIA"

AND CHINA

Authorised Capital.... $50,000,000

Sharp Drop In Sterling

BRITISH SUPPORT WITHDRAWN

WASHINGTON, AUG. 26. (Bea-

Issued & Fully Paid-Up $20,000,000 Incorporated by Royal Charter, 186ter)--Mr. Hanes, Acting Secretary

Beserve Funds: »

Sterling

Proprietors

........$20,000,000

Head Office:-HONG KONG ...

Paid-Up Capital ...£3,000,000 £6,500,000 Reserve Fund

...£3,000,000 H.K. Currency Reserve $10,000,000 Reserve Liability of Pro-

23,000,000 Reserve Liability "of

prietors

HEAD OFFICE: LONDON: 38, Bishopagate E.0.2 Sub-Agencies In London: 117/122, Leadenhall Street, E.C.a West End Branch: 14/16, Cockspur Street, S.W.1. Manchester Branch: 52, Mosley Street, Manchester, 2.

Board of Directors: " A. L. Shielda, Esq.,

Chairman.

Deputy Chairmas.

W. H. Lock, Eeq..

Hon. Mr. J. K. Bonsfeld,

A. H. Compton, EN,

Hon. Mr. 8. H. Dodwell,

D. F. Landale, Esq..

G. Miskin, Esq.,

K. S. Morrison, Esq.,

Hon. Mr. T. E. Pearce,

H. V. Wilkinson, Esq.

Sir Vandeleur M. Grayburn...

ALOR STAN AMBITBAR BANGKOK

AGENCIES AND BRANCHES:

HARDIN PINANG EONG KONG BANGOON ILOILO

MIDON IPOH

SEREMBAN KARACHI SHANGHAI

SINGAPORE SITIAWAN BOURANAYA

BATAVIA BOMBAY

CALCUTTA

ILANG

AGENCIES: OB

CLIVE STREET KUALA

Chief Manager. FAIRLY PLACE

DKLI

MEDAN

NEW YORK PRIPING

of Treasury, states that the Trea- sury is not considering adjustment of the American dollar in view of the sharp drop in Sterling.

Mr. Hanes says that Britain has notified the United States of her Intention to withdraw support for Sterling, and at the same time pointed out that the tri-partite currency agreement was still effec- tive.

GOLD LOSSES

that the Mr. Hanes declared United States, Treasury does not consider the withdrawal of British support for Sterling as competi- tive devaluation, but as a step necessitated by the recent heavy gold losses.

43

Meanwhile, in New York, bank- ers estimate that British gold holdings have been reduced to about £400,000,000. Lat the British Anancial measures are expected to (Bhuket) end or at least reduce the gold

drain.

TONGKAN

TSINGTAO YOKOHAMA

LUMPUR

Branches:

CANTOX CAWNPORE .

KUCHING

TAIPING TIENTSIN

MADRAS

CEBU

Laroy

Ipoh

...Bangkok

Johore

Bombay

Kowloon

Penang Rangoon Saigor San

COLOMBO

MANILA

HAIPHONG

•

HAMBURG

མ

Francisco BANKOW Shanghai „

London

Singapore

Colombo

Lyona

Sourabaya

Dairen Malacca

Sungei

Foochow

Manila

Patani Swatow

Batavia Kobe

Calcutta-Kuala

Canton Lumpur

Cheloo

Haiphong Muar."

Hamburg (Johore) Tientsin

Mukden Tokyo

Bankow

Harbin

New York

Tsingtao Yokohama

Hongkew Peiping

Iloilo

(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 rate which will be quoted on application.

SAVINGS ACCOUNTS also opened in Local Currency and Starling with interest allowed at rates obtainable

CURRENT ACCOUNTS opened in on application. »

The Bank's Head Office in London LOCAL CURRENCY and Fixed Depostra "received for one year or shorter undertakes. Executor and Trustee periods in Local and other Our-business, and claims recovery of rencice on terms which will be British Income Tax overpaid, on quoted on application.

terms which may be ascertained at ALSO up to date BATE DEPOSIT any of the Agencies and Branches Boxes in various rizes To LET

R. A. CAMIDGE, Hong Kong, 5th June, 1939... HONGKONG SAVINGS

BANK

Manager.

THE CHASE BANK"

18, QUEEN'S ROAD, CENTRAL HEAD OFFICE:

18, PINE STREET,

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

The Business of the above Bank is conducted by, the HONGKONG & SHANGHAI BANKING COR PORATION. Rules may be obtain-An ed on application.

Ir

For the HONGKONG & SHANGHAI

BANKING CORPORATION.

V, M. GRAYBURN,

Chief Manager! Hong Kong. 25th Feb., 1939.

BANK OF EAST ASIA. LIMITED

Authorised Capital.....$10,000,000.00

Paid-Up Capital .................... Baserve and Undivided

Prosts

5,588,600.00

2,883,83201

Head Office:-HONG KONG No: 10. Des Voeux Road, Central.

Board of Directors:

Sir Bhonson Chow, Chairma

Interest Rates on Application.

SAFE DEPOSIT BOXES

This Back is entirely owned by THE CHASE NATIONAL BANK. New Year, with Resources over U.S.$2,500,000,000,

D. M. BIGGAR.

Second Vice Pres

TRADE MARKS" ORDINANCE AMENDMENTS

The following is published in Wong Chu Son, Esq.the "Government Gazette":

Li Koon Chan, Esqu Li Lan Sang, Eng. P. K. Kwok, Esq.

Wong Tan Tong, Esq. Kan Ying Po, Eag Chan Ching Shok, Esq. Fang Fing Wah Eng

Kan Tong Po, Esq., Chief Manager.

Li T Fong, Esq.," Manager.

Andy Bateria

Bombay

Calcata Ep Hauter

Honolulu Hote

Brunches and Agonofos !!,

Lawloom FRAME London Rangoon

Singapors Sonrabaya Manila Salgo Bator Melbourne Hai Fraz. Sydney

also Demtain

Vancouver New York Beattle Paris Bussarung Peiping Shangha

By virtue and in exercise of the

i

GOLD FRICE LONDON, Aug. 26 (Reuter)- The price of guld.rose 4/6, to-day to 155/- and ounce, Sterling was quoted at $4.40.

4

STOCK PRICES RALLY

H.K. Sharebrokers'

Assn. Report

With the signing of the German- Russian Agreement and subsequent increase of the tension in Europe, nervousness was evident in some quarters and prices declined under selling pressure.

01

Or market

Dusiness. At the close Saturday however, the rallied. Stares were then dificult to obtain, prices fired and losses were to some extent regained with evidence of further unprovement

HK. Bank shares after changing, at 31:100 came in for hands enquiry at 91,150 without resulting in business. Electrics, arter coming down to 948 were wanted at $50. Trams changed hands at $11 with buyers at $14.10. Lands changed hands down to $30 but subse

quently had buyers at $31.

Providenta came in for inquiry. with business reported at impro- ing rates from $3 to $3.90. Hotels also came in for quitry, with business reported at $3.85 HK. Docks changed hands at sidh. and Telephones (old) at $19, Watsons at $73. China Lights (old) cased to $61 but recovered with buyers at $62.

For the same reasons, gold min- ing stocks have been easter and prices have been marked down on an average of 15 per cent, on last weeks' closing. Benguet Consolida- powers conferred on him by section, ted at Ps 9.50 showed a loss of Ps 56 of the Trade Marks Ordinance. San Mauricio lost 10 ctvs with 1909, and of all other powers business reported at 77

ctvs. thereto him enabling. the Gov- ernor in Council hereby further United Paracale closed at 31 ctvs, a loss of 8 ctvs. Itogons receded amends the Trade Marks Rules set out on pages 361 to 397 of the 94 ctvs, a loss of 3 cvs. IXL Regulations of Hongkong, 1844 to was down 4 ctva at 383 ctvs and 1925, amended as appears in Goy- Big Wedge down 2 ctvs at 181 ctra. ernment Notifications 525 and 795 Mine Operation at 10 etvs showed

a loss of 2 ctva, of 1931, as follows-

to the CROWDS AT BANKS,

TRAVEL BUREAUX

The sald amendments shall be

AMENDMENTS. Every description of Banking and Exchange business transacted. Loans

Rules 55 and 63. Items 11 and 18) granted on approved securities.

Current Accounts opened in Local in the First Schedule Currency and Fixed Deposite reRules, are rescinded. ceived for one year or shorter periods in Local and Foreign Our zencie* an terms which will be quoted on application.

SAFE DEPOSIT BOXES TO LET.

KAN TONG PO,

Chief Manager.

BANK OF CHINA

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

BANK

PAID-UP CAPITAL $40,000,000.00 (BRANCHES, ALL OVER CHINA) Owing to our numerous Branches in China 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'S ROAD, O. South China Offices:

CANTON

SWATOW SHTUCHOW

KONGMOON TOISHAN KINGCHOW

We also handle the issue of Bonda and other Publio Fands of the Chinese Government both at Home and Abroad.

SHOU J. CHEN,

Manager

Local banks and travel agencies incorporated and printed in the edition of the Regulations of Hong-experienced another busy day on kong prepared under Ordinances Baturday, when they were throng- with people endeavouring and Regulations of Hongkong jed

"

FINANCE

HONGKONG SHAREBROKERS"

ASSOCIATION

VOLUME OF BUSINESS TRANSACTED FOR WEEK ENDING

HK: Banks

Uniona

Lands

Trams Realties

MONDAY, AUGUST 28, 1939. —PAGE 13.

PRESIDENT LINER

Sailings

Sail Sept. 9th at 400 P.M. -

FOR SAN FRANCISCO "& LOS ANGELES via BHANGHAI, KOBE, YOKOHAMA and® HozOLULU *8.8. " PRESIDENT PIERCE "

83"PRESIDENT COOLIDGE" *SS. "PRESIDENT TAFT »' 18.8. " PRESIDENT CLEVELAND *S.S." PRESIDENT. PIEKCE"

* OMITS SHANGHAI.

AUGUST 26, 1939

10

$1100.00

20

350.00

900

32.50

A

1100

15.60 to

$30.00 13.50

500

4.00

Providents

4500

4.15 to

Cementa

600

12.80 to

Chiria Lights (0)

2044

· 7.80 to

3.75 1.12.75 6.35

Dairy Farms (0)

950

20.00

to

18.50

Dairy Farms (N)

18

19.00

Electrica

616

54.00 to

48.00

Telephones (0)

500

19.00

Hotela

1000

3.85

Watsons

"1000

7.25

Yaumati Ferries.

500

23.50

HK Docks

3000

14.50

Govt. 4% Loan

$10000

Far

1925 G. Bonds Itogons

$560

30%

to

28%

10000' Ps .21

VIA SUEZ

1000 Ps 10.00 to Ps

10.10

1000 Ps

.18)

S.S." PRESIDENT HARRISON " 8.8. "PRESIDENT HAYES"

2000. Fs

301

5000 Pa

.17

2000 Ps

.FB

Benguet Consol. Antamoks United Paracale Coco Grove San Mauricio

H. K. STOCK. EXCHANGE

For a Saturday morning there was an encouraging amount of business put through, and there were gains from the lowest prices recorded yesterday.

BUYERS

H.K. Bank, $1150. H.K. Docks, $141. Providents, $31.

H.K. & S. Hotels, $3. HK. Tramways, 13. China Lights (Ola), sot. HK. Electrics, $49. Cements, $114.

SELLEKS

HK Realties, $4. Sandakan Lights, sii. Telephones (Old), $20.

SALES

Providents, $33.60.

HK. &. S. Hotels, $3.80/.85. HK. Tramways. $14.

China Lights (Old), 3841.80 HK. Electrics, 349. H.K. Govt 4% Loan, Par

PHILIPPINE GOLD MINING QUOTATIONS

Atoks Antamok.... Baguio Gold

Batong Buhay

Benguet Consolidated Big Wedge

Coco Grove ....

Hongkong Revenue Increases

Hongkong's

credit - revenue balance is still increasing, and at the end of July stood at $16,549,- 279.32 as compared with $16,243.- 596.87 at the end of June,

Revenue for July aggregated $4,231,967.51 while expenditure was $3.926.285.08.

Most of the revenue heads slow- ed increases over the amounts för the same month last year. Duties amounted to $804,080 as compared with $782.619. and Licences and other internal revenue totalled $2,073,583 as compared with 31,- 754,182

Severest loss was suffered by the which Kowloon-Canton. railway returned revenue for the month of $60,556 as against $172,217 last year...

Land sales were also down, pe- ing $198,510 as against $256,916.

MORE THAN LAST YEAR However the total revenue for the month exceeded that for July 1938 by $294,485, and the actual revenue for the year up to the end 16 of July, which amounted to $34,- 01101685.049.52 was nearly $3,000,000

18

9605

181

18

Consolidated Mines Demonstration

I. XL. Itogon Mining

more than for 1938.

Already 70 per cent. of the es- timated revenue for the entire 0011 year had accrued by the end of 08 July.

Total expenditure for the month showed only a slight increase on that for 1988, being $3,926,225 as 084 compared with $3,829,340, while 70

38

194

Manbulao Consolidated Manbate Conscidated Mindanao Motherlode Mine Operation North Camarines Paracale Gummaus San Mauricio

057

18

14

77

Surigao Consolidated Suyoc Consolidated United Paracale

19

111

31

the aggregate expenditure for the 101 year to date, placed at $21.698.385. is but $1,100,000 greater than that. for last year.

PHILIPPINE GOLD MINING".

QUOTATIONS

AUG. 26, 1939

Atoka Antamoks "Baguio Gold Batong Buhay

J

611

18

183

011

Benguet Consol. Big Wedge Coco Grove Consol. Mines

18

18

Demonstrations.

1. X. L. Itogons Mining

09.50

*BIG INCREASE

Biggest increase in expenditure items for July was charitable ser- vices, which cost, $104,680 com- pared with $16,450.

The education department cost $143,152, about $4,000 mare than last year, while the police force absorbed $204,905 which was about $26.300 more than in 1938.

Public debt for the month was $932,711 as compared with $942,511, and public works, including water works aggregated $283.182 as com- pared with 3194.328; The sanitary 0011 department absorbed $103,210 dur-

ing the month.

05 MONEY MARKET

081

38

· 194.

Mambulao Consol.

Masbates Consal.

081

Mine Operations ....

10)

181

Paracale Gumaus San Mauricio

14

77

J

the

Burigap Consol.

Suyop Coppol

(1937 edition) Ordinance, No 51 of to withdraw money or to purchase. 1936, and shall come into force on passages for abroad.

The stails of both the Ameri- the date on which approval of the

second volume of the Regulations can Express Company and of "Hongkong (1937 edition) is China Travel Service were kept notided by proclamation under on their feet all morning. section 9 of Ordinance No. 51 of

1936:

All boats leaving for Macão were. Itaxed to capacity.

MOVEMENT OF GOLD AND SILVER

GOLD

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

Canada

France

Switzerland

3

North Camarines"

United Paracales.

Mindanao Motherlode

500

19%

11

· 31.

OT

HAS EXCITING

WEEK

LONDON, Aug 27 (Reuter) The Money Market experienced the most exciting week for a long time by reason of the unexpected rise in the Bank Rate from two to four per cent, marking the first change in seven years.

The higher bank rate resuited in a parallel movement in this $6.75 week's Treasury Tender, when the 1800 average rate came out a shade un- 3.75 der £3 per cent, compared with 3.85 13/16ths last week.

With sterling failing to 4.3050) 3.90 in terms of the dollar, the London 3.85 prices of gold yesterday reached a 19.00 new high record at 155 shillings 18.50 per onace,

Wall Street closed very firm.

August 95 (Reuter). Week ended Week ended

Aug. 18

Aug. 23

HONGKONG SHARPBROKERS,

SHARER

ASSOCIATION

AUG. 26, 1939 Lights (0)

500 Telephones (0) Providents Providents

1000

1000

17,942,000

7177,000 8,096,000

10,383,300 $5,518,000 4,033,000

Providents

1000

3,80

Providents

$500

Hotels

$1000

384,000 294,000

Dairies (0)

100

25,000

273.000 70,000

Dairies (0)

50

$2,000 22,000

HK Trams

1000

14.00

Electrics

50.00

2,456,000 3,498,000 1,734,000

1,887.000

$2.000 662,000

.78

Bwitzerland

454,000

Egypt

99,000

Southern Rhodesia

43,000

71,000

British India

312,000

47,000

SILVER

Total EXPORTS from the United Kingdom Including: To British India

129,000

12,000

Poland...

20.000

Total IMPORTS into the United Kingdom Indinding: From The United States

135.000

$7,000

72,000

78,000

The Netherlands

Central and Bouth" "America Syria Total IMPORTS into the United Kingdom Including: From British Africa

Belgiume

Govt. Loans 4% 25,000 at Par

2000 Px San Mauricio

LONDON GOLD

London, Aug. 25 Reuter) Bar Gold, Fine per os, 155. Dollar-Parity.

KWANGSI BANK HEAD DEAD

KWEILIN, August 28 (Central)- The death occurred here on August 23 of heart failure of Mr. Huang Chi, member of the Kwanga Provincial Government and manager of the Kwangsi Pro- vincial Bank

OMITS YOKOHAMA

#

Sept. 23rd at 9.00 AM.

"1"

Oct. 7th at 8.00 A.M.

Oct. 1st at 8.00 A.M.

19

Nov. 4th at 8.00 A.M.

:

AND FORTHIGHTLY THEREAFTER

FOR NEW YORK & BOSTON

Sails Sopt at 19 Noor

Sept. 14th at 18 NDON

AND FORTNIGHTLY THEREAFTER -

FOR MANILA

S.S. PRESIDENT HARRISON " Baila Sept. "lat at 12 No

SS" PRESIDENT PIERCE

8.S."PRESIDENT COOLIDGETM

$8. PRESIDENT FOLK"

Sept. 3rd at 2:00 A.M. Sept. 18th at 1.00 A.M. Sept. 29th at 13 Noor

AMERICAN PRESIDENT LINES

"ROUND-WORLD SERVICE" ..

12, FEDDER ST.-

THE

TEL. 28171.

CHINA-SIAM

LINE.

BONG KONG-BANGKOK

leaving Hong Kong

30th August

5.6. "HELIOS”.

HONG KONG-SWATOW-AMOY ·

Accepting Passengers & Cargo for all the above mentioned ports. HONG KONG 1NGAPORE PHANG BANGOON.

"

30th Aug.

"Regular Express Service "BAI HING" leaving Hong Kong Accepting cargo for all the above mentioned porte.

Excellent passenger accommodation available.

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

Tel. 30937.

General Agenta,

Queen's Building.

THE BEN LINE STEAMERS, LTD.

S.S." BENMOHR”

Sailing for LONDON, ROTTERDAM, ANTWERP, HAMBURG and LEITH on or about the 6th September, 1939

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

For Freight and Fassage #pply_

To the Agents

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

Tel. 94185

RICKMERS - LINIE

NOTICE TO CONSIGNEES

THE C. RICKMERS"

York Building,

HAMBURG-AMERIKA LINIE

NOTICE TO CONSIGNEES.

THE MS.

"RAMSES"

having arrived from Hamburg and having arrived from Hamburg and Ports of call, Consignees of Cargo are Porte of call, Consigneos of Cargo are hereby notified that their goods are hereby notified that their goods are being landed and placed at their risk being landed and placed at their risk nto the Hong Kong Kowloon into the Hong Kong & Kowloon Wharf Wharf & Godown Company's godowns & Godown Company's godowns at at Kowloon, where delivery may be Kowloon, where delivery may be obtained as soon as the goods are obtained a mon as the goods are landed.

banded Optional cargo will not be landed

Optional cargo will not be landed bere, unless notice has been given 45 here, unless notice has been given 18 hours prior to vessel's arrival, but hours prior to yousel's arrival, but carried on from port to port to the carried on from port to port to the final port of call to which the option final port of call, to which the option

extends, extenda

No claims will be admitted after the claims will be admitted after the Goods have left the Godowns, and all Goods have left the Godowns, and all- goods remaining undelivered after the goods remaining undelivered after the 18th Ang., 1939. will be subject to 38th Aug., 1989, will be subject to rent

All broken chafed; and All broken, chafed, and damaged Goods are to be lefs in the Godowns Goods are to be left in the where they will be examined on 10th where they will be exam Aug, 1999, at 10 am. by our Bur- Agg 1938, at 10 am, veyors Messrs. Goddard and Douglas. Surveyors

rent.

To comply with the General Bonded Douglas,

"To comply with the Ganera), Bonded Warehouse Begalations consignees must have Revenge Officer in Warehouse Regulations CCELEROMON Attendance whep damaged dutiablaj must have Revenue Officer

attendance when Adamaged dutieḥ goods are examined

All claims must reach us before the goods are examined 18th Bapt. 1929, or they will not be recognized. Bezp

by

No Insurance will be effecten. Bill of Lading will be countersigned

JEBSEN & 00

Hong Kong, ind Aug, 1939.

All daime mult reach na before 28th Sept., 1989, or they will not recogilised

No Insurance will be affected Bills of Lading will be count

1e38 Hong Kong, Sist