HONGKONG DAILY PRESS
BANKS
HONGKONG & SHANGHAI THE CHARTERED BANK OF
BANKING CORPORATION
Authorised Capital..
$50,000,000
INDIA, AUSTRALIA
AND CHINA
21
Issued & Fully Paid-Up $20,000,000 Incorporated by Royal Charter, 1853
Beserve Funds:
Starling
..$20,000,000
Paid-Up Capital
£3,000,000 £6,500,000 Reserve Fund
.......£3,000,000 H.K. Currency Reserve $10,000,000 Reservd Liability of Pro
prietors
.£3,000,000 Reserve Liability of
Proprietors
HEAD OFFICE: LONDON: 39, Bishopsgate E.0.2 Sub-Agencies In London: 117/192, Leadenhall Street, E.0.3. West End Branch: 14/16, Cockspur Street, S.W.1. Manchester Branch:
Head Office:-HONG KONG
Board of Directors:
A. L. Shields, Eaq,
W. H: Lock, Esq.,
Chairman
Deputy Chairman.
Hon. Mr. J. E. Bousfeld,
A. H. Compton, Esq.,
Hon. Mr. S. H. Dodwell,
D. F, Landale, Esq.,
G. Miskin, Esq.,
K. 8. Morrison, Esq...
Hon. Mr. T. E. Pearce,
H. V. Wilkinson, Esq.
52, Mosley Street, Manchester, 2.
FINANCE
INDUSTRIAL CO-OPERATIVE MONEY AND
MOVEMENT TRANSFORMS
PROVINCE OF SHENSI
CHUNGKING. SEPT. 22 (CENTRAL)—T. "E CHINESE INDUS- WROUGHT SWEEPING TRIAL CO-OPERATIVES HAVE CHANGES IN SHENSI, ACCORDING TO A · NEW ARRIVAL FROM THAT PROVINCE
Machine shops, textile factories, power houses, mining co-operatives, Kilns and other industrial establishments operat- have sprung up in large numbers. Ing on a co-operative basis he asserted,
An unnamed village in south-daily digging thirty tons of thè` ern Shens which he visited has nearby hills.
a throb- been transformed into bing centre of machine industry. Here are in operation. 13. Indus- trial co-operatives, A hospital, a chemical laboratory, and school all proudly displaying the red and white triangular. Insignia of the Chinese Industrial Co- operatives.
a
Another village which he visited is a centre of textile industry. Here are to be found twenty spinning and wesving co-operatives.
tailoring one
cotton .00-; co-operative, one operative and one sterilised cotton and gusse co-operative.
NEW "MODE OF LIFE.
anid. he The co-operatives, bring not only new mode of mode co-production, but also a new machine of life. Hospitals operating engineer a co-operative basis help
ALOR STAR AMBITSAR
BANGKOK BATAVIA
BOMBAY
CALCUTTA
KARACHI MILANG
AGENCIES AND BRANCHES:
HARSIN TENANG BONG KONG KANGOON ILOILO
HAIGON
IPOH
SEREMBAN SHANGHAI
SINGAPORE
SITIAWAN
co-operative
BITUMINOUS COAL Among the 13 industrial operatives is $30,000
A with
XUALA
BOURABAYA
.LUMPUR
KUCHING,
TAIPING TIENTSIN
MADBAS
TONGKAK
MANILA
Sir Yandeleur M. Grayburn,
AGENCIES: HOB
CLAVE STREKY
Chief Manager. FAIRLIN PLACE
MEDAN
(Peking)
Branches:
CANTON CAWNPORE CIBU
Απογ
Ipoh
Bangkok
Johare
l'enang Rangoon
Batavia
Kobe
Bombay Calcutta
Kowloon
Saigon San
COLOMBO
DELHI HAIPHONG
HAMBURG
NEW YORK PIPING
Kuala
Francisco WANKOW
Canton
Lumpur. Shanghai
London
Singapore
Colombur Daireu
Lyons
Malacca
Squralnya Sungei
Foochow
Manila
Haiphong Muar
Hamburg (Johore)
Rankow
Mukilen Tokyo
Tsingtao
Che foo
Harbin Hongkow Toile
Patani Swntow Tientsin
New York Peiping Yokohama
תם
EXCHANGE
CLOSING QUOTATIONS
SEPTEMBER
9
On London:--
22, 100
Telegraphic Transfer, 1/2 13/16" Bank Bills, on demand1/2 13/16. Credits 4 months' sight 1/3 3/8 On Shanghai:-) On demand
ais
On Singapore:---
On demand
62 1/9
On Japan:—
On demand
On India
308 1/9
Telegraphic Transfer: Jas 1/8"
and demand
On New York:~~~
Bant Bills, on demand 24 5/8 Credits, 60 days', sight 45 1/2
Un Batavia-
Credits 4 months' sight 1140
107
SATURDAY, SEPTEMBER 23, 1939.-PAGE 11
WHITE AND COLOURED CEMENT
MIXTURES.
FOR EXTERNAL AND INTERNAL DECORATIVE WORK:
We are now in a position to offer these well-known Associated Portland Cement Manufacturers products ready mixed with the proper proportion of specially prepared sand. Thie and is nniform" in colour and has been washed and siered to the correct degree of fineness.
The extra cost of these mixtures is very small" compared with the advantages of being able to obtain a material that is ready for use.
NO WASTE
UNIFORMITY IN COLOUR
Prices on application to
GREEN ISLAND CEMENT
On demand
44.1/2
On Parts:-
Bank Bills, on demand 1680
to
On Salgón ---
On demand
Un Manlis:-
On demand·
Dr Bangkok.
On demand
49-1/4
150 1/4
Sterling Notes:-
Bank Buying Rate
Bar Silver per oz.
1.3 1/4 93 1/2
Exchange Building, Hong Kong.
from the CI.C. North-west Head-improve health conditions. Epide- quarters as resident adviser. It mic prevention drives are launch- weaved. Sanitation is promoted, Athie- produces simple spinning,
ing, grinding and other machines, tics and gymnastics are encourag-
and (Bhuket) rubber-tired carts
automo-ed.
also Co-operative stores provide dally There is TSINGTAO bile accessories.
of necessaries at reasonable prices,. the manufacture YOKOHAMA
a kiln for
and
two "coal considerably lowering the living refractory brick
are standard of the rural populace. mining co-operatives which
FOREIGN EXCHANGE and General Banking Business transacted.
CCRRENT ACCOUNTS opened and FIXED DEPOSITS received for One Year or shorter periods 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
CURRENT ACCOUNTS opened in on application. LOCAL CURRENCY and Fix8D DEPOSITS The Bank's Head Office in London received "for one year or shortar undertakes Executor and Trustee periods in Local and other Cur-business, and claims recovery of rencies on terms which will be British Income Tax overpaid, on terms which may be ascertained at quoted on application.
ALSO up to date Art Darosir any of the Agencies and Branches.
R. A. CAMIDGE, Box in various sizes To Ler
Hong Kong, 5th June, 1938,
HONGKONG "SAVINGS
BANK
15, QUEEN'S ROAD, CENTRAL
The Business of the above Bank is conducted by the HONGKONG & SHANGHAI BANKING COR- "PORATION. Rules may be obtain-An
ed on application.
4
For the HONGKONG & SHANGEM BANKING CORPORATION.
V. M. GRAYBURN,
Chief Manager. Heng Kong, 25th Feb., 1839.
BANK OF EAST ASIA, LIMITED
Authorised Capital.....$10,000,000,00
Paid-Up Capital
5,598,600.00
Reservs and Undivided
Profits
2,883,832.01
Head Office: -HONG KONG
No. 10 Der Voeux Road, Central,
Board of Directors:
Bir Bhorison Chow, Chairma
Li Koon Chan, Zaq.
P. K. Kwok, Esq.
Wong Yan Tong, Esq. Chan Ching Shot, Saq.
Li Lan Sang, Esq
Wong Chu Son, Exq, Kan Ying Pe, Big. Fung Ping Wah Eaq.
Kan Tong Po, Esq., Chief Manager.
Li Toe Fong, Esq., Manager.
Amoj
badavia
Borsbay
Orientés
·Branckes and Agencies ;---
Haiphong Hankow Honalain Kobe
Pusod Kowloom
Lopdoe
Bingapor Rangoon Botiralays Saigon Swalow Melbourne Ban Praz- Byday
pizoo Tactals
VandoRVET
New York deattle
Parli
+ Patring
Bemarang Shangtzal
Every description of Banking and Exchange business transacted. Loans 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 Car rencies on terms which will be quoted on application.
SAFE DEPOSIT BOXES To L. ·
KAN TONG PO..
Chief Manager::
BANK OF CHINA
Specially Chertored by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE
BANK PAID-UP CAPITAL $40,000,000.00 (BRANCHER ALL OVER CHINA)
HEAD OFFICE:
18, PINE STREET,
NEW YORK. American Bank offering com- lete Foreign Banking Service in the principal Markets of the world.
Interest Rates on Application.
SAFE DEPOSIT BOXES
BANI,
This Bank is entirely owned by
THE CHABZ NATIONAL New Yoax, with Resources of over U.S.$2,900,000,000.
D. "M. BIGGAB,
Second Vice Pri
THE MERCANTILE BANK OF INDIA, LIMITED
Head Cmco:-15, Gracechurch Street. London, E-CA
Authorised Capital
Subscribed Capital Paid-up Capita?..
Reserve Fund and Ræst
BANKERS:
The Bank of England and Midland
Bank, itd.
41
NEW YORK STOCK EXCHANGE
STOCKS
Adams Express
Alleghany Steel Co. Allied Stores Allis Chalmers Aluminium. Ltd Amarada Corps. Amer. Can
Amer. Sugar Ring Amer. Tel & Tel Amer. Tobacco "B"
amer. Waterworks Anaconda Copper Atchison, T. & S. Fe. Auburn Motors ... Baltimore & Ohio Barber Asphalt Co Barnsdall Ol} .... Bendix Aviation Bethlehem Steel
Bliss & Co.
Boeing Airplane Co.
Borg-Warner
Bigga M'facturing
Brooklyn-Mhattan Trans. B'klyn-M'hattan $8 cum pi.
Canadian Pacific R'way.
QUOTATION
* * * * ERSE 1.88888:
www
SEPT. 22, 1939
STOCKS
||
Last Sale Sept. 21
81
Market Report
FROM ROZA BROS.
Sliver prices were unchanged yesterday, the quotations remain- ing at 23.1/3 for Ready and 23. 5/18 for Forward. Silver advices the market as being reported steady with a very small business done. American Süver was quoted at 38.3/4 for Spot.
The London/New York cross-rate was quoted at 402. New York/ London was quoted at 399.3/8.
Market
Sterling
There were sellers at 1/3 Sep-
tember/October, 1/231/32 Novem
ber/December" and
1/2.15/16
January/February, bayers at 1/3.
1/32 Cash; 1/3 November and 1/2. 31/32 January.
U.S. Dollars
Sellers at 24.7/8 for cash, buyers
Shanghai Dellars.
Sellers at 340 for Bpot.
Shanghai Market,
Opened with sellers at 43/8 for Spot. The lowest rate
Afternoon Market
The market was extremely dull
In the afternoon.
Sterling
No business was reported. The market closed with sellers at 1/3 September/October, 1/2.31/32 No- vember/December and 1/2.15/16 January/February, buyers at 1/3.
CO., LTD.
Tel. 21463.
KIRIN
The
B
E
E
Choice of
The Multitude
Sole Agents
H. HONDA &
Tel 20790.
R
CO.
40, Johnston Road, Hong Kong.
CONSIGNEES' NOTICES CONSIGNEES; NOTICES
BAREER-WILHELMISEN LINK
NOTICE TO CONSIGNEES.
M.V. TANCRED " From U.S.A. via MANILA, P.I.
1/32 Cash, 1/3 November and CONSIGNEES of Cargo are hereby probably 1/2.31/32 January.
Last Sale Sept. 21
103
251
Johns Manville ....
91
|J. & Laughin Steel 37 pfd. 75
451"
Kennecott Copper
43
90
Lakey Foundry & Maë.
34..
Libbey-Owens-Ford
Glass
454
112
Lockheed Aircraft ....
29
American Cyanamid B Ather. & Foreign Power Ameri & Foreign $7 pi....
347
Loew's Inc.
331
24
Manhattan Shirt Co.
121
Quiet.
211
Martin, Glen L
38
Manager.
American Gas & Elec
McKesson, Robbin's
17
THE CHASE BANK
Amer. Locomotiva
201
Monsanto Chemical
107
Amer. Metals Co....
264
Montgomery Ward
54
Amer. Radiator
101
at. Dairy Products
15
Amer. Rolling Mill
Nat. Distillers
221
Amer. Sting and Ring Co.
581
National Gypsum
101
National Load
233
1611
Nat. Power & Light
82
National Steel Corp.
772
Nat. Supply Corpn.
121
New York Central
at 25.1/16 for Cash.
201
Niagara Hudson Power
7
N. American Aviation"......
211
141
North American Co. ..................... [Northern Pacifc
22.
114
Owens-linols Glass Co.
601
30+
Paciic Gas & Elec.
touched
30
Pacific Lighting
447
Packard Motors
4
was 4.7/32 Last advices indicated sellers for Spot at 4.9/32.
Paramount Pictures
..71
Pennsylvania RR.
243
Phelps-Dodge
46
Phillips Petroleum
46
38
Public Service of N.J.
381"
5
Pullman Inc.
391
Case, J.I.
90
Pare. Our
201
***ge,000
Celanese
21
Radio Corpn. of Am..
52
1,800,000 Chesapeake & Ohio
42
Reading Company, Com
"187
21,050,000
81,262,770 Chrysler Corpn
89
Reading Company, lat píd
25
Colts Patent Fire-Arms
92
Remington Arms Co., Inc.
61*
Columbia Gas & El
71.
Republic Sieel
. 28
BRANCHES:
Columbia 6% “A” på. Commercial!
81
Reynold Tobat: "B*
353
432
Richheld Of
83
Kusis Treagan Commonwealth & 8. (ord.)
11
Safeway Stores
413
Madras
'New York
C'wealth & 8. 6% cum pt.
041
Schenley Distillers
13
Pennz
Consolidated Edison
30
Schenley, 51% pid.
67
Delhi
Kot BINTU
Consolidated 011.
9
Sears Roebuck
79
Hongkong,
Kuala Lipk
Continental Can
501
Howrah
Seversky Arcraft
"51
Continental oli ..........
30
Shell Union on
151
Bellers at 342 for Spot,
Corn Products
-602
Bocony-Vacuure Ol
141
-Shanghai Marksi
Curtiss Wright (C)
Bouthern Pacids ....
181
Curtiss Wright "A" .Deere & Co.
271
Southern Fly $5 pfd.
274
Bellers at 4.9/32 for Spot.
23+
Byerry
491
Distillers Corpn. Seagrams
151
Spicer Manufacturing Co.
264*
784
Standard Brands ......
Shanghai Exchange
179
Stand Gas & Elec......
་་
"133
Standard Oll of California
31'
Shanghai, Sept. 22 (Reuter).
Ufficial T.T. Rates
26
Standard Oil, of N.J.
51
37)
Stone & Webster
111
London
Swift International
324
New York
Technicalor...
121
Japan
Elec. Bond & Share $6 pt..
65
484
India
Elec, Power & Light $7 pt. Flintkote
314
Texes Gulf Sulphur
371
181
Trans-America" Co.
71
Paris Hongkong
Food Machinery Corp.
351
20th Cent. Fox
131
Gen. American Tranz. ................. Gen. Electric
61)
20th Cent, Fox. $1į pi.
224
4121-
Union Carbide & Carbon
914
543 24
Union Pacibe
101
United Altratt
United Airlines Trans. ... 101
Sept
18...
United Corpn.
31
Oct.
0/4-7/320/4-7/16
221
United Corpn. #3 cum pf.
351
U.S. Dollars
641
United Ga-Corpn.:.
21
291
United Gas Improvement
131.
Spot
$8-15/16
$7-5/16
201
Pittsburg Coke & Tron
121*
Sept
8-15/16
7-5/16
201
US Industrual Alcohol
274
Oct.
6-25/32
7-5/32
·341°
08. Rubber
43
Market:-Steady,
1611
U.B. Robber $8 pfd.
· 1041
Merchant Rate
10.8 Steer
781
879
Sterling 0/4-7/16"
53
Warner Bros. Pict
4
28
Westinghouse Foc.
116
70%
Woodward Iron Cor.
· 301-
39
Chase National Bank
37)
#
National City Bank
301
rate on London at 10 am, to-day was 1/2-1/2d, unchanged from yes- terday,
bid.
Fez, dir.
'DOW JONES AVERAGE
Bangkok 1pol
Bombay Calcutt
Colombo
1 Gallo
Jaun
KaAutor
Kandy
Karac
Karls LuS UNIT
Hankoo Shanghai
Bimis
Singt pere
HONG KONG BRANCH:
Every description of Banking wid Krohng baażnem tracted.
Travallers Cheques Insited, TRUSTEE AND EXECUTORSHIP
UNDERTAKEN CURRENT ACCOUNTS opened in Local Car ency and PIXKD DEPOSIT cosired in LocalDouglas Aircraft
Du Pont de Nemours,..... Currency, STERLING & U. 9: DOLLARS on term that may be certainad en appVcation.
Eagle Picher Lead Eaton Mfg. Co. Mec. Autolite
D. BENSON, DE..
STERLING RISES Elec. Bond & Share
ON FOREIGN
EXCHANGE
NEW YORK, Sept. 22 (Reuter)- On the Foreign Exchange, stering rose above $4, duë,
Firstly, to short covering and dwindling of the supply of sterling brils which had been forced upon the market when the Bank of England imposed stringent con- trol;
Secondly, to the more smoothly
Elec, Bond & Share $6 pr.
Gen Motors ..... Gen. Railway Signal General Tire & Rubber Co 221, Glidden Co...... Goodrich (BF) Goodrich $5 pf.. Goodyear Tire & Co. Great Northern Iron Ore
Owing to our numerous Branabes functioning of the Bank of Eng-Great Borthern Rly, pid in China and connections fa the land machinery to provide dollars Great Western Bugar principal Commercial Centres of at the official fate so that the large Greyhound. "Corph the World, we are able to extend volume
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 SHTICHOW
KONGMOON TOISHAN KINGCHOW
We also handle the issue of Bonds and other Public Funds of the Chiness Goverment both at Home and Alwad.
SHOUJ. CHEN
Yanager.
which paper
formerly Hecker Products cale from New York is now diver Hercules Powder Co..
Homestake Mining ted to London: and
Industrial Rayon
Thirdly, to the drying up of selling from neutral countries, International Harvester
The frane and other European Int. Nickel currencies followed sterling quickly. Int. Tel. Tel. especially the guilder; with the Dutch authorities temporarily buy- ing sterling for adjustment, while the Italian fire reached a new low with tradera.
It is said that official pegs will apparently begin to be lowered gradually in order to keep pace with the depreciation in neighbour countries.
1936
Texas Corpn.
sóvanadium
High Low Dow Jones "Averages, -15692, 193,44 · 20 Industriais
24 33 94.1420 Balle
27.07. 20.713 20 Utilities 99.92 86.51 40 Bonds"
U.S. Dollars
The market closed with sellers at. 24.15/16, buyers at 25.1/16 for Cash
Shanghai Dollars Dollam
Sterling 2
Opening 073-3/4
6-1/8
20
20-7/8 2,73 24-7/8
Bellerm Opening Closing Spot 0/4-1/4 0/4-15/32 0/4-1/4 0/4-15/32
US Dollars, 57-1/4.
Sifrer Duty Bate
The Central Bank of China's
The Equalisation rate was $24.5 per cent.
Sept. 20, High Low Close Chanes 139 25 154,38 161.49 158,48 12up
39.45 33.00 39.20 32,8838 up New York Exchange 26.48 24.05 21.50 24.65 23 up AL BUII 10.of 88.91
58.76576 Business Done 1,750,000 shares
30.53 45.59 11 Commodity Index 67.99
New York, Sept. 21 (Reuter), TT. on London (Opening Rate), 3.93-1/2
informed that all Goods are being landed at their risk into the Godowns of the Hongkong and Kow-
CONSIGNEES'. NOTICE: THE BEN LINK STEAMERS, LID.
From LEITH MIDDLESBRO, ANTWERP, LONDON AND STRATTS.
Tax S.S..." BENVANNOCH”
informed that all Goods are being landed at their risk into the Optional cargo will not be landed hazardous and/or extra haradous here, unless notice has been given 48 Godowns of the Hong Kong and hours prior to vessel's arrival, but car. Kowloon Wharf & Godown Company, ried on from port to port to the dnal Ltd. whence and/or from the wharvOR port of call to which the option delivery may be obtained.
No Claims will be admitted after the extends.
No claims will be admitted after the Goods have left the Godown, and all Goods have left, the Godown, and all Goods remaining undelivered after the Goods remaining undelivered after 28th Sept will be subject to rent
All claims against the vessel must the 58th inst., will be subject to reat
loon Wharf & Godown Company, Ltd.ONSIGNEES of Cargo are hereby at Kowloon, whence and/or from the wharves delivery may be obtained.
All claims against the vessel must be presented to the undersigned on or be presented to the undersigned on or before the Ith Oct. 1939, or they before the 8th prox. or they will will not be recognized. not be recognized..
To comply with the General Bonded and damaged Warehouse Regulations. Consignees All broken, chafed, Goods are to be left in the Godowns must have a Revenue Officer in atten where they will be examined on the dance when damage dutiable goods. 97th inst., at 10 am. by our surveyors are examined. Mears, Goddard & Douglas,
In the case of dutiable cargo, con- signees are requested to inform the Imports & Exports Office that they hare such goods for examination.
No Fire Insurance has been effected. Bill of Lading will be countersigned by
DODWELL & CO., LTD.
Agents. Hong Kong, 21st Sept., 1939:
EFFECTIVE CONTROL
OF PRICES
[7.28
All broken, chafed, and damaged Goods are to be left in the Godown where they will be examined on the 26th September, 1939, at, 9 am by Messrs. Carmichael & Clarke.
by
No Fire insuranion has been effected! Bill of Lading will be countersigned W.R. LOXLEY & Co. (CHINA) LTD
Agents Hong Kong, 22nd Sept, 1938.
179
BANK OF ENGLANI DIVIDEND
LONDON, Sept. 22 (Beuter): -The Bank of England his declared a half-yearly" ~ divi- dend of six per cent. less tax.
considerations
there
BRITAIN TO STOP several dimculties in the
PROFITEERING
an effective control of price *** SMALL MINORITY Mr. Stanley said that manufacturers associati rendered great assistance couraging their raising their pric ever, there Was powerhinority who had
LONDON, Sept. 22 (Router) Mr. Oliver Stanley, Presl- dent of the Board of Trade, sanounced in the House of
after Commons yesterday noon, that the Government had decided to take to stop profiteering.
The precise form of the sures to be taken are, now
mer
tmidt
tage of the conditions and mea-against these that under be taken.
No comments yet.
Private notes are available after approval.