HONGKONG DAILY
PRESS®
BANKS
FINANCE
Finance and Commerce
HONGKONG & SHANGHAI THE CHARTERED BANK OF MONEY AND
BANKING CORPORATION
INDIA, AUSTRALIA
AND CHINA
Authorised Capital......... 850,000,000 Incorporated by Royal Charter, 1853 lued Fully Paid-Up $20,000,000
Beserve Funds:
Sterling
Paid-Up Capital £6,500,000 Reserve Fund......
$20,000,000
EXCHANGE
£3,000,000 CLOSING QUOTATIONS ..£3,000,000
£3,000,000
H.K. Currency Reserve $10,000,000 Reserve Liability of Pro Reserve Liability of
prietors Proprietors
HEAD OFFICE: LONDON:
-38, "Bishopsgato E.C.2 Sub-Agencies In London: 117/182, Leadenhall Street, E.C.3. West End Branch:
Head Office:-HONG KONG
Board of Directors: A. L. Shields, Ewq..
W. H. Lock, Esq.,
Chairman.
Deputy Chairman,
Hon. Mr. J. K. Bousfeld,
A. H. Compton, Esq.,
Hon. Mr. S. H. Dodwell,
D. F. Landale, Esq.,
G. Miskin, Esq.,
K. S. Morrison, "Esq.,"
Hon. Mr T E. Pearce,
"H. V. Wilkinson, Esq.
Sir Vandeler M. Grayburn,
Batavia Kebe
Kowloon
14/18, Cockspur Street, B.W.1. Manchester Branch:
52, Mosley Street; Manchester, 2.
ALOR STAR AMRITSAR
AGENCIES AND BRANCHES:
HARBIN HONG KONG ILOTLO 1POR
BANGKOK
BATAVIA
BOMBAY
CALCUTTA
AGENCIES: CLIVE STREET
Chief Manager. FAIBLIX PLACK
Rangoon
Branches:
Amoy
Ipoh
Penang
Bangkok
Jahore
·
Bombay
Szigon San
Calcutta
Kuala
→Francisco
Canton.
Lumpur
Chefoo
London
Colombe
Lynn's
Shanghai Singapore. Sourabaya Dairen Malacr
Sungei Foochow
Patani Manila Haiphong Muar Swałow." Bamburg (Johor) Tientsin Bankow Mukden Tokyo Harbin New York Tsingtao Hongkow Peiping Yokohama Iloilo
CURRENT ACCOUNTS opened in LOCAL CURARNOY and FixED DIPORITS received for one year of shorter perioda in Loca and other Our rencies on terms which will be quoted on application.
ALBO up to date SAT DEPOSIT Boxes in various sizes To LET
Hong Kong, sth June, 1930.
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.
M. GRAYBURN
Chief Manager. Hong Kong, 28th Feb., 1939.
BANK OF EAST ASIA, *LIMITED
www.
#Authorised Capital.....$10,000,000.00 Paid-Up Capital 5,899,600.00 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
P. K. Kwok, Eq
Li Koon Chan, Esq. Li Li Sang, Esq.
Wong Chu Son, Esq. Kan Ying Po, Eag.. Feng Ping.Wab Esq.
Woog Im Tong, Esq. Chan Ching Sher, Esq.
Han Tong Po, Esq., Chief Manager. Li The Foog. Enq...," Manager.
Batavia
Bombay Orlatta. [[alphatr
Bankow
Bonaluin Kube
Branches and áà gencine :---
Howson Pesana
Laadon
Manila
Melbourne
New York
Paris
Priping
Singapore Rangoon Bourabaya
Bwntow Balgyd
Ban Fran. Bydney
aisse Zlentair
Vancouver Benitie
Bemarking Stangbal
Every description of Banking and Exchange business transacted. Loans granted on approved securities.
Current Accounts opened in Loos! Currency and Fixed Deposits re ceived for one year or shorter periods in Local and Foreign Car- rencies on terms which will be' quoted on application.
SAFE DEPOSIT BOXES TO, Lar.
KAN TONG PO,
Chief Manager.
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL "EXCHANGE
BANK
PALD-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, C. South China Offices:
CANTON
SWATOW
SHIUCHOW
KONGMOON
TOISHAN KINGCHOW
KANTON DAWNPORK
COLORBU
DELR) BAIPHONG HAMBURG HANKÓW.
་
KARACHI KLANG
ком
XUALA
LCKFUR
KUCHING
MADRAS
MANILA
MEDAN
NEW YORK
PRIPING
(Peking).
AEPTEMBER
13, 1939
On London;—
Telegraphic Transfer. ts 13/18 Bank Bills, on demandt/9 13/16 Credits 4 months' sight 1/3 3/8 On Shanghai:--
On demand
Food Prices Increased In Singapore
Housewives in Singapore have not only the crials to worry about but also its effects on the food market. Prices of food- stuffs have risen in Singapore, though not on such a large scale as in last September,
(.
the
Increases of from 30 to 50 per cent are reported in commodity market. Prices of beef have shown a general up- ward trend, 30 per cent. In the case of beef steak, There has also been a jump in which has been poor during the the price of rice, Siamese rice. past few days. second grade,. now costing the buyer 50 per cent more than a few days ago.
Most food prices have risen over the crisis week-end, but there are
Telegraphic Transier. Leg 3/8 several cases of food costs being
and demand
On New York:---
.......
350
On Singapore:-
On demand
33 1/2
On Japan:-
On demand
15 1/2
PENANG KANGOON SAIGON SEREMBAN
On India:—
SHANDELM SINGAPORE
Un Batavia:——
On demand
45 1/2
On Paris:-
Bank Sills, on demand 1-80- Credits 4 months' sight 1140
On Saigon
On demand
Un Manila:-
SITIAWAN SOUMABAYA
TAIPING TIENTSIN . TONGKAR
(Bhuket) TBINGTAD YOKOHAMA
FOREIGN EXCHANGE and General Barking Business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter perioda in Local or Other Currencies at rates which will be quoted on application.
SAVINGS ACCOUNTS also opened in Local Currency and Sterling with interest allowed at rates obtainable on application."
Bank Bilis, on demand 24 3/4 Credits, 60 days" sight 26 1/8
On demand
On Bangkok.—
On demand Sterling Notes:-
Bank Buying Rate Bar Silver per oz.
al
Market Repor
levels.
maintained at pre-crisis This is true in the case of mutton and pork, and fruits and vegeta- bles.""
PRICES OF FISH
41
Prices of sundry goods, re- -main unchanged in most cases; and there has not been any. abnormal buying. Obviously the warning against further hoarding of food supplies. given by Government, is being observed.
from
Now that the Food Control law has been promulgated, prices in the commodity market are not likely to soar. Benetting A general rise is reported in the the lesson provided by the last price of fresh fish, outstanding war, Government will, it is under- being a 40 per cent, jump in the stood, take every precaution to prices of Kurau and Tengirri. prevent profiteering, but, to From inquiries, this increase has, the words of the Governor himself. It is said, not been due to the no interference by Government is 40 1/2 crisis, but rather to the catch justified at present."
160.1/4
16 3/4
...13 1/4.
20 7/8
NEW YORK STOCK EXCHANGE
STOCKS
QUOTATION
Adams ExprTOSS FROM ROZA BROS.
Alleghany Steel Co. Silver prices dropped 1/16 yes-Alled Stores
the Allis Chalmers The Bank's Head Office in London terday for both deliveries, undertakes Executor and Trustee Cuctations being 20.7/8 for both Aluminium Ltd Forward Silver ad-Amerada Corps, business, and claims recovery of Ready and British Income Tax overpaid, on vices reported speculators as hav-Amer. Can terms which may be ascertained at ing operated both ways. The American Cyanamid B. any of the Agencies and Branches. market was quiet. "American Sil- Amer. & Foreign Power ... Ameri & Foreign #7 pf.... ver was quoted at 38 for Spot,
cross-American Gas & Elec The London-New York rate was quoted at 402 "seller. 406 Amer. Locomotive ...
was Amer. Metals Co. buyer. New York/London quoted at 403.
R. A. CAMIDGE,
Manager.
THE CHASE BANK
15. QUEEN'S ROAD, CENTRAL
HEAD OFFICE:
An American Bank" offering com- plete Foreign Banking Service in the principal Markets of the world Interest Rates on Application.
SAFE DEPOSIT BOXES
THE
Market
Steady but quiet.
Sterling
Some business was done during Amer. Tobacco “B” 18, PINE STREET;
NEW YORK..the course of the morning at 1/3 Amer. Waterworks for September, 1/2.31/32 Novem-Anaconda Copper
and 1/2 Atchison, T. & 8, Fe.. ber, 1/2.15/16 January 7/8 May. The market closed with Auburn mor sellers at 1/3 Cash, 1/231/32 Sep-Baltimore & Ohlo tember/October and 1/2.15/16 Barber Alphalt C November/December, buyers at Barnsdall, Of 1/3.1/32 Cash, 1/3 October and Bendix Aviation 1/231/32 December, probably No-Bethlehem Steel
Bils & Co. Vember.
Boeing Airplane Co. Borg-Warner .................... Biggs M'Tacturing Brooklyn-M'hattan Trans. B'klyn-M'hattan $8 cum pt. Canadian Pacific R'way. Case, JI. ......... Celanese
This Bank is entirely owned by CHASE NATIONAL BANK, NEW YORK, with Resources of 'over, U.8.$3,900,000,000.
..U.S. Dollars Business WAS
cash
and
done at 25.5/16 D. M. BIGGAE,
for cash. The market closed with Second Vice Presellers at 23.1/4 for
25.1/8 September, buyers at 25.5/18 for cash and 28.1/4 September.
Shanghai Dollars,
NO SPECULATION IN SINGAPORE SINGAPORE, Sept. 13 (Red- ter)-Gold sales and foreign exchange transactions and dealings in foreign securities by Britons will be banned as from to-day by the Govern ment of the Straits Settle- ment
وم
Nominal,
- Shangbai Market,
Advice received shortly after 10 Colts Patent Fire-Arms am. reported sellers of Sterling Columbia Gas & E
at 41/64 for Spot and U.S. Dollars Columbia 6% 24" pf. at 8.23/32 for Spot. “..
Shanghai Exchange
46
STOCKS
115e
18%.
THURSDAY, SEPTEMBER 14, 1939. -PAGE
"
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONGKONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
SPOT
OCT-DEC.
New York, September 12;' SINGAPORE RUBBER
Sept. 11
Sept 12 buyers "sellers buyers sellers change *39
39-1/3 38
up
38-1/2
up
1/2
JAN-MARCH ...
35-1/2
37
up 1-1/2
The market was very steady, October-December buyers falled to attract any sellers,
LONDON RUBBER ...... 1
Previous close To-day's- close
BC 39
buyers
sellers buyers
seller's
10-1/8 10-1/4
10
10-1/4
10-1/4 10-1/2
10-5/8 10-7/8
10-1/4 10-3/8 10-3/8
change ON 1/8 ✓unch
10-5/8
off 1/4
COTTON C tha
SPOT OCT.-DEC. JAN.-MARCH
After ruling irregular, the market closed steady.
The market opened higher on better advices from abroad and prices early advanced on Trade buying and the dimness of the tex- tlle market. Later, there was a feeling of irregularity and prices de clined on profit-taking, hedge selling and selling by shorts.
RUBBER
Overnight selling orders caused a weer opening and the market later further eased on profit-taking due to reports of a possible rais- ing of the quota. Towards the close, there was a partial recovery on small factory and trade demand.
WHEAT
Prices declined. on profit-taking, liquidation and general selling. which, was met by only a limited volume of buying demand. Most clarification ΟΙ pending traders are remaining on the side-lines. many factors, such as the freight situation and the possibilities price control.
20. קם.
N. Y. Commodity Market
2|:|
New York, Beptember 7,
(By Courtesy of Messrs, Swan, Culbertson & Frits and S. E. Levy & Company)
14.73 14.20 14.31 14.73 .43 up
Monday's sales:-23,765,000 bushels.
Closing
Last Bale
SEPET. 13, 1939
11
Sept. 121
111
Last Sale
Sept. 12
NEW YORK STOCKS
27
Johns Manville
76
Previous To-day's
close
87
J. & Laughlin Steel $7 pid: 731
Kennecott Copper
46
New York Stocks
155.13
close Change
155.92
107
· Lakey Foundry & Mac.
4
73
|Libbey-Owens-Ford
GLASS
457
-115
Lockheed Aircraft
30
35
|Loew's Fac.
31
21
Manhattan Shirt Co.
224*
|Martin, Glen L.
381
337
McKesson, Robbins
344
Monsunto Chemical
171* 1101
301
Montgomery Ward
521
Amer. Radiator
81
National Cash Register Co. 15
Amer, Rolling Mill.......
23
Cat. Dairy Products
157
New York Cotton, Oct. a. New York Rubber, Sept.
Amer. S'ting and Ring Co.
63
Nat. Distillers
234
Chicago Wheat, Sept.
Prev. To-day'ı High Low Close Close Change
9.37 9,20
9.29 9.29 21.50 20.773 21.70 12.50
81. 84. 837
unch. 20. 01
82)
14" off
5.
| Amer. Bugar Ring Amer. Tel & Tel
271
National Gypsum
91
Chicago Com, Sept.
561
541 561
551
11 of
1854
National Load
26
Winnipeg Wheat. Oct.
75
72} .75† 724
21 off
78+
Nat. Power & Light
-81
New York Hides, Sept.
117
National Steel Corp.
NEW YORK COTTON
82
371
Nat. Supply Corpn.
Close
Opening
"Change
131
31
New York Central
201
October
029/2018
9.37/37
unch.
VGA
| NENAra-Hudson Power-*
December
8.20/22
72
N American Aviation.
214
January
8.16 N
9.24/74
9.17 N
134
North American Co.
March
9.08/03
9.15/15
9.08/08
.01 up unch.
178
Northern Pacific.
117
May
8.94/94
9.00/8.99
5.95/95
31 -
Owens-Illinóls Glass Co.
58:
July
8.88/39
8.34/91
8.82/84
98+
Pacific Gas & Rico.
292
Spot
9.64 N
9.58 N
.00 off
18
Pacific Lighting
451
NEW YORK BUBBLE
217
Packard Motors
44
September
29.40b/50a
26
Páramount Pictures
81
December
21.65/70
241
Pennsylvania R.R
2411
March
20.68/68
21.00/40 20.20/19.88 20.14b/20a
23,20/20'. 21.50/50
:30 off
20% off
48 off
101
Phelps-Dodge
47
May
20.85/65
20.20/20.26
20.08/15
.05 off
38
Philips Petroleum
48
Total sales for the day: 3,200 tons.
is
5.
Public Service of NJ.
CHICAGO WHEAT -
371
84
Pullman Inc."
337
251
Pure Oil.......
11
September December
831/831
834/84
837/831 621/621
Chesapeake & Ohio Chrysler Corpn.
414
Radio Corpn. of Am.
54
May
85785
85/851/
81/814
834/831
907
Reading Company, Com
171
93.
Reading Company: ist píd·
34.
CHICAGO CORN
72
Remington Arms Co., Inc,
61*
September
571/571
58/56
BO
Republic Steel
December
581/581
56/56
554/551
Commersial
41
Reynold Tabac. "B"
351
May
:594/594-584/59
581/68
off off
+
Commonwealth & 8. (ord)"
11
Richfield Qu
WINNIPEG WHEAT
94
C'wealth & 8.6% cum pt
434
Safeway Stores
401
Consolidated Edison
291
Schenley Distillers
122
October December
751/751
761/761
744/75 1702/78800 749/748
724/72
Consolidated Oll ...
時
Schenley, 61% pid."
65
May
Continental Can
50%
Bears Roebuck
781
NEW YORK COPPER FUTURES
Opening
Continental Oil
30
Seversky Aircraft ·
December
0/3-1/2 Com Products ...
651
Ebell Union Oil
16
July
11.45/45 11.84b/608 11.70/88
11.58/80, 11.49/50 ..
.05.
11.57b/802
... 5-7/8
Curtiss Wright (C)
71
Bocony-Vacuora Oil
134
NY Silver, Official
35-1/8
38 4.03
24-7/8
Curtiss Wright “A”
271
Southern Pacific
17.
19-3/8
2.53
Deere & Co.
234
Southern Rly $5 pfd..
NEW YORK HIDES
271
Distillers Corpn. Seagrams
· 14.
Sperry
511
23-1/4
Douglas Aircraft
78
Standard Brands
December March
-14.30/31
14.65/85
14.45/35 14.75/07:
14.63/73" 15.00/09
Du Pont de Nemours
1871
Stand Gas & Elec.
3
Eagle Picher Lead
14)
Standard Oil of Californis
331
December
201
[Standard Of of N.J.;;
5:24
London, Sept. 12. (Reuter). Silver Speculators bought and sold. Market quiet. In the after- noon, the market was very quiet.
Spot, 20-7/8d.
381
Stone & Webster
114
Spot
Elec. Bond & Share
95
Bwifi International
34
Sept.
Elec, Bond & Share $5 pl
55
Technicolor
101
Oct.
Elec. Bond & Share $8 pf.
647
50
Forward, 20-7/Bd.
Spot Sept.
U.S. Dollars
$8-11/16
*
$6-23/32
Elec. Power & Light 37 pr. Flintkote
314"
Texes Gulf Sulphur
167
Trans-America – Co.
7
6-5/8
6-11/16,
Food Machinery Corp.
371
20th Cent. FOL
124
6-7/16
Gen. American Trans.
584120th Cent. Fox, $1i pf.
211
Gen. Flectric ......
414
Union Carbide & Carbon
93
Gen. Motori
551
Union. Pacific
984
Gen, Railway Signal ......
201
United Aircraft
General Tire & Rubber'
United Airlines Trans
101
17
United Corpn.
231
United Corp. $3. cum pf.
342
641
United Gas Corpn...
21
Goodyear Tire & Co.
281
United Gas Improvement. :131)
Great Northern Iron Ore ...
2+2
Spicer Manufacturing Co.
26)
US. Industrial Alcohol.
29-
Great Western Bugar Greyhound Corpn. Becker Products ....... Hercules Powder Co. Homestake Mining
347
UB. Rubber
442
151
US. Rubber $8 pid:
1015
117
UB. Steel
821
Vanadium
A
301
54
Warner Bros. Pict
241
Westinghouse Elec.
118
International Harvester Lat. Nickel
70
Woodward Iron Cor.
201
453
4
Chase National Bank National City Bank
1-én, div.
DOW JONES AVIZAGU
Wow Sept. 12, 1939.
155.13 19144" 20. Industria)»
24.28-3434 - 30" Eufe
27.07 20.71 10 Utilities
92288.51 40 Bonda
88.14
80.03 45.69 11 Commodity Index 5997
Speculation is to be con- trolled on similar Hnes as in Britain.
SILVER MARKET
LONDON SILVER
NEW YORK SILVER
New York, Sept. 12 (Reuter). Official Price, 36.
BOMBAY SILVER
Bombay, Sept. 12 (Reuter). Market-Steady, putake 100 bars. Indian Mint Silver
Ready
57-00 56-12
Sept. 9 Settlement Oct. 7 Settlement....... 56-12
#
—Mr.
Official T.T. Rates Shanghai, Sept. 13 (Reuter).
London New York Japan".
India ... Paris... Hongkong
Sterling
Bellers
Opening Closing 0/3-63/64 0/4 0/3-31/32 0/4 0/3-7/8 0/3-09/32
Eaton Mig. Co. Elec." Autolit
Oct 8-13/32
Market:-Quiet
Merchant Rate
Sterling, 0/4.
US Dollars, $6-11/18.
Silver Duty Rate
ין
Glidden Co..... Goodrich (BF)
The Central Bank of China's Goodrich $5 pt. rate on London at 10 am, to-day was 1/2-1/24.
The Equalisation rate was 9-3/4 Great Northern Rly, pfd. 314
per cent
New York Exchange
New York, Sept. 12 (Reuter); TT on London (Opening Rate). Industrial Rayon
NO COMPETITIVE * DEVALUATION .... WASHINGTON, Sept. 13 (Reuter)
Morgenthau.4.04-5/8. Benry Becretary of the U. 8. Treasury, announces that tripartite agree- ment between Britain, France and the
- United States continues, despite the new rates for sterling and the franc,
Mr. Morgenthầu did not regard We also handle the issus of Bonds
rates as "competitive and other Public Funds of the the new Canoes Government both at Home devaluation" In view of the and "Abroad.
LONDON METALS In Tel & Tek
EXCHANGE London. Sept. 12. (Reuter). buyers sellers
£
£
TIN
emergency, but Britam and France Standard, Cash 229-3/4 230 "SHOD J, CHEN, IN are respecting the spirit of the Standard.
3 months 229-8/4230 Manager.agreement with the United States.
1939
Texas Gorjun.
38
441
High Low Dow Jones Averages, Sept. 11 High Low Close Chang's
SB3.18 157,20,151.78–185.99", „80 up.
નક 21.30 28.06 20.78 32.85 1.65 up 23.42 14.25 22.15. 24.08 50 up 89.96-19 up 60.51% 66 UD Business Done: 4,170,000 shares-
f08/tog
NY-London Cross Rate 4,04-1/2-
כם 12.
44. up
NEW YORK STRAITS TIN
61.00/00
58.00b/58.50a 1:50 off
61.00 b
KIRIN
B
E
The E Choice of R
The Multitude
Sole Agents
H. HONDA & CO.
Johnston Road, Hong Kong.
Tel: 21230;
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