1939-09-02 — Page 11

HONGKONG DAILY PRESS

Finance and Commerce

KOKIU TIN MINES YIELD $30,000,000 WORTH YEARLY

CHUNGKING, Sept. 1 (Central)--In the last three years, more than 9,000 tons of tin were annually produced and exported. from the Koklu mines in Yunnan, The sale brought the Yan- nanese from $20,000,000 to $30,000,000 depending on the quotations In the London market and on the exchange rate between pounds sterlings and Chinese dollars,

FORTY MINES

Since 1938, the production and cent Increase, of the Provincial marketing of tin in Kokiu have Bank price to $5,020 for 1,000 cat- been controlled by the Yunnan ties of tin is expected to bring the Provincial Bank which pays $2,200 production to an unprecedented to $2,300 for every 1,000 cattles of level, the metal produced by private miners.

Besides several hundred private- This, however, had a re- tarding effect on the whole output owned pits and surface workings, as the figures show that the 1938 there are in Kokiu to-day 40 mines production represented a decrease in operation and 60 native smelt- of more than 2 percent when coming places. pared with that of 1937. The re-

LONDON STOCK EXCHANGE HAS

QUIET SESSION

LONDON, Sept. 1 -Da the London

change, most

(Reuter)

Stock Er- closed Kroups

the

rather easier after ä quiet session, in which even announcement

of to-day's closing of the markets filled

to cause any material selling. The latest

developments

adversely

H. K. STOCK EXCHANGE

Once again the week's market has been a kaleidoscope. Opening and continuing up to yesterday. bouyant and rosy, and with a wel- come sign of returning confidence, buyers had been more in evidence than for sometime past. The far sighted precautions taken by the Authorities 1. Home Brit'sh against eventualities, have been entirely misconstrued here and these have been aggravated by the conflicting reports from. Europe. Consequently the market hits re- lapsed to the tender state and considerably fallen trading has off.

But it must be noted that in spite of all this, what little business The Yunnan Tin Corporation is has been reported to-day is on a junder the technical supervision of higher level than last week's

Mr. 8. B. Archdeacon, an English-closing rates.

man who worked for 28 years in

the world-famous Australian Tin

Corporation and who designed the

reverberatory and purifying fur. naces in the Yunnan plant.

The corporation is producing 13,000 tons of high-quality tiri slabs a year which is about one-third of Koklu's total annual output, which in turn is approximately 80 per- cent of China's yearly production of that metal..

WOLFRAM ORE

Wolfram ore is another rich in mineral of Yunnar.. Its presence connexion with the international was discovered only three years crisis have

affected ago. It la abundant in the area sterling, which closed at 4.285 west of the Huangmaoshan tin The ore dag in terms of the dollar; compared mines near Kokių.

out from the ground is collected with 4.395.

The crisis is responsible for the by the Yunnan Wolfram Company. Increase of

£20,000,000, over

ina semi-official concern. The aver- the Bank of England note cir-age output is approximately 80 culation, which at 539.5 millions tons, a month and its exports were valued at close to 4,000.000.000 last establishes a new high record.

year.

Wall Street was easy.

Chinghai Province Makes Remarkable Progress

SINING, Sept. 1 (Central)-Chinghai (Kokonor), the far-flung province in western China, has taken big strides in reconstruc- tion in the past year.

The progress has been made possible through the efforts of the provincial authorities and the cordial relations now prevail- ing between the Hans (Chinese), Manchus, Mongols, Mohamme- dans and Tibetans.

The pac, chia (mutual protec-| Taerhssu is flanked on both sides tion) system has been successfully by vast foresta. introduced in 11 of the 17 districts

Many new highways with Sining.

in the province, namely, Sining, the provincial capital, as the con- Haunhua, Kweiteh, Tatung, Huchu, verging point, have been con- Welyuan. Lotu, Minho, Huang-structed. The total kilometrage of hsten, and Tungjen. The effect of new roads last year was 2,893. the introduction "of this system Popular education has been pro- All has been proved by good order and moted with energetic efforts, peace maintained, and the dis- children up to school-age are re- covery of several cases of espion-quired to go to school, while able- age.

TRAINING ENFORCED Training of able-bodied men has 'beer. gidly enforced since the start of the Sino-Japanese hostili ties. All males between 18 and 50 years of age, except those who are

physically unft, are required to underzo military and spiritual training.

Chinghui leads other provinces in the Northwest in afforestation. General Ma Pu-fang, Chairman of the Chinghal Provincial Govern- ment is an ardent promoter of tree-planting. Since fils. assump- tor of the governorship, he has made tree-planting one of the principal tasks in the province. He said that. Chinghai's poverty can be relieved through afforesta- tion.

VAST FORESTS

bodied men undergoing training have to learn characters for half an hour per day.

One hundred sons of Mongol princes and Tibetan dignitaries are receiving education in the Provin- clal School for Mongolians and Tibetans.

BUSINESS DONE DURING

"THE WEEK

HK. Bank, $1100, $175, $1200.

$1317, $1320.

Union Ins., $350. Docks $14.

Providents; $34, $3.60, $33, $4.17),

$4.40.

Hotels. $3, $3.60, $3.85, $4. $43. Lands. $30, $31. $31.

Tramways, $131, $14, 3142, $14.30.

$15 $15.85.

Star Ferrics, $58. Yaumat! Ferries, $22.

China Lights (O), $6.35,- $64.

$6.80 $7.. $7.70.

Electrics, $49, $51. $53, $54. Telephones (O), $20.

Cements, $121...

Dairy Farms. (Q), $191, $19). Dairy Farms (N), $187, $19. Watsons, $71.

Raubs. $7.96, $8.

Hongkong Mines, 2 cta. Govt. 4% Loan. $100, Gort, 31% Loan, $98.

BUYERS

China Lights (0); $7.10. Telephones (0), $199.

SALES

HK. Banks, $1290/50. HK. Tramways, $15). China Lights., (D), $730. Telephones (0), $183/20.

PHILIPPINE GOLD MINING

Ataks

· QUOTATIONS'

Baguio Gold

171

17

Antomoks

191

Batong Buhay

Benguet Consol,

20"

Big Wedge

Coco Grove

Consol. Mines

I. X. L

012

09.70

18

0011

081

Demonstrations.

38

Itogons Mining.

211

Manbulao Consol.

06

Masbates Consol,

09

Mine Operations

11

141

78

20

114

30

Paracale Gumaus San Mauricio Surigao Consol. Suyoc Conso). United Paracales Mindanao Motherlode

Ominous Signs On Foreign

Exchange

STERLING BREAKS

BADLY

NEW YORK, Sept. 1 (Reater) On the Foreign Exchange yester- day, sterling brake badly as the war threat seemed more ominous and as Britain announced evacua- tion and also the closing of the London Stock, Exchange.

It is estimated that 5,000,000 "trees have been planted in the province while seedlings planted

Sterling temporarily slumped to during the current year number

then moderately rallled. 1,567,000. One section of the high-4.27, way running between Sining and Meanwhile, other currencies show-

WEEKLY RETURNS AND REPORTS

BANK OF ENGLAND

Public Deposita. Other Deposita:

Bankers Other Accounta Total Government-

London, August 31 (Reuter).

Aug. 13

&

Aug, 14

22,370

31,070

$2.130

90,140

35,230

38,080

128,360

129,120

Securities

09,670

113,130

Other

5710

Discount & Advance

24.330

24,530

Total

30,040

Notes

and Couns

39.200

Total Bullion

247,360

Notes in circulation

508.060

Radio of Reserve to Liabilities

26.00%

Price of Gold at which holdings are valued

148/6.

529 .300 21.38% 158/6

a Securtiles:

FEDERAL RESERVE SYSTEM

6,390

31,020

34.200 283,750

New York, August 31 (Reuter)

Aug 17: Aug. 24

000's omitted)

Bills Bought.

UB. Securities held

Federal Reserva Ratio

Federal Reserve Credit Outstanding.

$1,000 2,423,000

3% 2:441,000

Monetary Gold Stock

18.501.000

Industriál. Advance

1.000 2,428,300

$1,448,000/

16,638,000.

11,667.cop

ed most erratic and sudden move- ments, with several rising sharply as sterling declined.

Currencies Drift

With all pegs removed and stabilization funds husbanding the resources, each currency drifted and were influenced promptly by zeizable orders either way."

The lira was reported to have temporarily broken loose from the existing official moorings for the frst time in many years, while the Belga gullder and the Swiss franc were most buoyant, presumably because of the flight of funds to these countries.

On the other hand, Far Eastern- ers were mostly weak, with rates remaining at normal"

The futures market continued to be most restricted, with sterling discounts little changed. However, such rates were more of less nominal.

SILVER MARKET

LONDON BILVER

London, Aug. 31 (Reuter). Silver-India and speculators sold. Bupport small. Market steady at the decline. In the afternoon, the market was firm, with buyers at a farthing over the fixed rate but with sellers holding off.

Spot. 18-7/16d:

Forward, 18-5/16.

NEW YORK SILVER

New York, Aug. 31 (Reuter), Official Price, 35-1/2.

BOMBAY SILVER

Bombay, Aug. 31. (Reviter);!??

| Market-Eary. - Oftake 25 bars,

Indian Minf Silver

Ready

-Sept. 9 Bettlement

Oct. 7, Bettlement

19-00 48-15

་་

FINANCE

SATURDAY, SEPTEMBER 2, 1939. -PAGE 'I'}}

LAMMERTS' AUCTIONS

'CONSIGNEES' NOTICES CONSIGNEES' NOTICES CONSIGNEES' NOTICE.

SERVICES CONTRACTUELS DES SERVICES CONTRACITELS DES THE BEN LINE STRAMERS, LTD.

MESSAGERIES MARITIMES

CONSIGNEE' NOTICE,

S.S. " YANG TSE' 100/39.

BRINGING CARGO Fxou. DUNKIRK vis HAIPHONG éto

ARRIVED HONG KONG 。 FRIDAY, THE 18 SEPT., 1939.

MESSAGERIKS MARITIMES

CONSIGNEE NOTICE,

8.8. * JEAN LABORDE" 21'A/39,"

BRINGING CARGO From MARSEILLES via SAIGON, etc.

ARBITED HONG KONG of THURSDAY, "xm 31sr AUG., 1939

UNSIGNES are uereby informed that their goods with the exception of Opium, Tressure and Valuables are being landed & stored into the Godown of the Hong Kong, Kowloon Whart & Godown Co., Ltd, Kowloon, whener

landing.

From LEITH MIDDLESBRO', ANTWERP, LONDON AND STRAITS.

«THE S.8.." BENMOHR”

PUBLIC AUCTION.

TUE. Undersigned rave received

instructions

to sell by

PUBLIC AUCTION

CA

HONSIGNEES of Cargo are hereby Cinformed that all Goods are being landed at their risk into the hazardous and/or extra baradons Godowns of the Hong Kong and SATURDAY, the 2nd SEPTEMBER, Kowloon Wharf & Godown Company, Ltd. whence and/or from the wharves delivery may be obtained.

No Claims will be admitted after the Goods have left the Godown, and all Goods remaining undelivered after the 6th Sept will be subject to rent.

ONSIGNEES are hereby informed that their goods with the exception of Opium, Treasure and Valuables are being landed & stored into the godowns of the Hong Kong Kowloon What and Godown Co., Ltd. Kowloon, whence delivery may be obtained immediately be presented to the undersigned on or

delivery may be obtained immediately after landing..

All Claims must be sent in to me on or before the 12th Sept., 1939, or they will not be recognized.

Damaged Packages will be examined by the Company's Surveyors, Mesar. Goddard & Douglas in the presence of the Consignees at 10.00 am. ou Thursday, the 7th Sept., 1989.

Consignees must have Revenue Officer in attendance when any dutiable goods are examined by the Company Surveyors.

No Fire Insurance will be effected by as in any case whatever.

R. OIL,

Agent. Hong Kong, 1st Sept., 1939,

after

All claims must be sent in to me os or before the 11th Sept, 1939, or they will not be recognized.

All claims against the vessel must

before the 20th Sept., 1939, or they will not be recognized

To comply with the General Bonded Warehouse Regulations, Consignees must have a Revenue Officer in atten- dance when damage datiable. gooda

Damaged Fackages will be examined by the Company's Surveyor, Messrs Goddard & Douglas in the presence of the Consignees at 10.00 on Wednes- are examined. day, the 6th Sept.,, 1939.

Consignees must have » Revenue Officer in attendance when say datiable goods ars examined by the Company's Surveyors.

No Fire inserance will be effected by us in nay case whatever.

R. OEL.

Azent.

Hong Kong, 30th Aug., 1999.

[666

All broken, chafed, and damaged Goods are to be left in the Godowns, where they will be examined on the 4th September, 1939, at 9 a.m., by Messrs, Carmichael & Clarke

No Fire Insurance has been effected. Bill of Lading will be countersigned

by

LI

"W. R. LOXLEY & Co. (CHINA) Lro.

Agenta Hong Kong, 30th Aug., 1939.

Rolni TAILORED GOODS

ON

1k

SALE

AT

CHINA BUILDING, GROUND FLOOR, opposite Hongkong Hotel.

1930.

Commenciar at 11,00 an...

At their Bales Room, No. 2 Connaught Road, Central, (Room No. 205, 2nd Floor).

A' QUANTITY OF OFFICE FURNITURE AND PERSONAL

KITECTS

ales

500 Bags Portland Cement 1 Case Asparagus Tips

and

(For account of the, concerned)

4 Packages of Ladies' Handbags and Gentlemen's Dress Bets.

Terms: Cash on Delivery.

LAMMERT BROS..

„AUCTIONEERS,

What do

you want ?

If there is anything you want to buy or sell, try 3 Classided ment in

PROLAJI

·advertise-

the Hong-

Long Daily Press.

25 words $1,00 prepaid"

for 3 insertions.

Shandy

U.B.STOUT

and

TONIC

a most refreshing drink.

after Exercise

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