1939-12-19 — Page 10

PAGE 10-HONGKONG DAILY PRESS

FINANCE

FOREIGN MARKETS & QUOTATIONS

HELPING INDUSTRY

Contribution From Textiles

Attention was recently directed to the way in which the textile industry had been able to meet the sudden demand for “black-out" material.

That was but one phase of the changes in the industry due to the war. Another was the extremely emclent way" in which the call for materials for uniforms is being met,

The Government orders come, cheerful colours, a valuable, cor- Erst in Importance and urgency.tribution at this" time when relief but other voluntary and semi-of that kind was most welcome. voluntary organisations are also responsible for large orders, and

SOUND VALUE

Colour was largely the theme of all are nevertheless being com-the lace display arranged by the pleted very rapidly,

British Colour Council in conjunc- tion with the Nottingham Lace Federation of which a forecast was given a week or so 180,

Withal, the organisation of the industry is so complete that it has still been found possible to carry un more normal activities. It is

It proved to be full of interest, obvious that clothes will wear out and designers were able to get new and so must be replaced, and while ir pirations in the utilisation of fashion parades have taken on lace flotticings in a

variety of different aspect to what was con materials, including wool. cotton. templated a month or two back, linen, slik and rayon, in which the they are being held and stimula-delicacy and charm of the fabric ting buying to a useful degree,

were heightened. by pleasing UTILITY THEME

colours.

"In the course of time ouer

Manufacturers are

helping 6.S

MONEY AND

EXCHANGE

CLOSING QUOTATIONS

DECEMBER 18. 1939

On London:---

"

Telegraphic Transfer

1/2 788

Bank Bills, on demand/ 7/8 Credits 4 months' sight 1/3 1/4

Jn Shanghai:-

On demand

On Bingapore:-

315

On demand

12 3/4

Op Japan:-

On demand

03 1,4

On India-

Telegraphic Transfer.

82 1

and demand

On

New York:-

Un

Bank Bills; on demand 24 3/8 Credits, 60 days' sight 25 Batavia-

On demand

.......45 3/8

On

Paris:-

Un

Bank Billa, on demand 1300 Credits 4 months' sight 1145 Saigon —

On demand

11/2

48 3/4

149 1/8

· 1/4" $3 3/6

hidana

On demand On Bangkok -

On demand Sterling Notes:--

Bank Buying Rate Bar Silver per oz..........

much as they can, and the two branches of the textile industry Marker Report

London in

connection

ways

what

are

FROM ROZA BROS.

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING HONGKONG

POWER PRODUCTION

Alternative Sources

Energy

Of

While the search for new fuels and experiments to secure better results from the old ones go forward with unabated vigour and there is intense competition between internal combus- ulon engines and steam prime movers, a great deal "of atten- tion continues to be given to the possibilities of the utilisa- tion of natural forms of energy. Principally this takes the form

让

From time to time mention has of harnessing the flow or fall of been made in these pages of the water, and nowadays it is possible i progress made in the diesel engine to secure machines m a wide field, and there are now many salt¬ range of sizes for such a purpose, able units available for driving one which has been found par- electrical machines.

for

powering

TUESDAY, DECEMBER 19, 1939;

BANKS

HONGKONG & SHANGHAI THE CHARTERED BANK OF

BANKING CORPORATION

INDIA, AUSTRALIA AND CHINA

Authorised Capital... 850,000,000

$90,000,000

Issued & Fully Paid-Up $20,000,000 Incorporated by Royal Charter, 1883 Reserva Funds:

Sterling HK. Currency Reserva $10,000,000 Reserve Liability of Pro-

prietors......

Paid-Up Capital £6,500,000 Reserve Fand

£3,000,000 .£3,000,000

£3,000,00€

Head Office:-HONG KONG

Reserve Liability of

Proprietors

Board of Directors: Hon. Mr. A. L. Shields,

WH. Lock, Esq.,

Chairman.

Deputy Chairman.

J. K. Housfeld, Esq., A. H. Compton, Esq., Hon. Mr. S. 'H. Dodwell, D. F. Landals, Esq., G. Miskin, Esq.,

K. S. Morrison, Esq..

Hon. Mr. T. E. Pearce, H. V. Wilkinson, Esq. Sir Vandeleur M. Grayburn,

Chief Manager,

Branches: Ipoh

HEAD OFFICE: LONDON. 38, Bishopsgate E.0.2. Sub-Agencles In London: 117, Leadenhall Street, B.C.3. West End Branch: 14/16, Cockapar Street, 8.W.1. Manchester Branch: 62, Monley Street, Manchester, 9.

AGENCIES AND BRANCHES:

ALOR STAR HARBIN PENANG AMBITBAR BONG LÒNG BANQUON

ILOILO IPOB

BANGKOK BATAVIA

BOMBAY

CALOUTTA·

SAIGON

BELEMBAN

ZABACHI

SHANGHAI

BINGAPORE

KLANG

KUALA

AGENCIES: KOBE CLIVE STORY PATRIA PLACE CANTON CAWYPORE CEAU

HAMBURO HANKOW

LUMPUR KUCHING KADRAS

ΡΕΙΡΙΝΟ

(Peking)

SITIAWAN

SOURABAYA

TAIPINO

TIENTSIN

(Bhuket)

YOKOHAMA

TONGKAH

Amoy

Bangkok

Johore

Penang Rangoon

COLOMBQ

MANILA

Batavia

Kobe

Boubay

Kowloon

Saigon San

DELHI

MEDAN

TAINGTAO

HAIPHONG

NEW YORK

Calcutta

Kuala

Francisco

Canton

Lumpur Shanghai

Chefoo

London

Singapore

Colombo

Lyons

Scurabaya

Dairen

Malacca

Sungei

Foochow Manila

Is

Patani

Haiphong Muar Swatow Hamburg (Johore) Tientsin Bankow Mukden Tokyo

New York Tsingtao Hongkow Peiping Yokohama Iloilo

ticularly suitable

In fact, the variety of prime electrical generators.

movers that may now be used ac Much time and money have been cording to local conditions trade displays recently. held in will be showing in somewhat

spent by some of the leading emphasised by some BTH. in- they with the similar

Silver prices were unchanged British engineering firms in large-stallations, such as the four 13.333 lace and wool Industries. have 'de- doing to help CAITS on their

over the week-end, the quotations scale laboratory work to

Harbin secure ka, water wheel alternators in monstrated the vitality of both. trade, and it behoves all buyers in remaining at 23.3/8 for Ready and knowledge which may be used to the Punjab the six 2.500 k.v.a. They showed that fashion de-verseas countries to keep closely 23.9/18 for Forward. Silver advices solve some of the problems they diesel-driven sets at an Austra- signers are recognising that in in touch with these developments.

were not received. American Sil- have to face in using water lian ore-crushing station, three 470 such times as these utility must They are consequent upon the be given a little more attention great attention that is being paid ver was quoted at 34.3/4 for Spot. power, and very high efficiency is kV.a. gas-engine driven alternators

The London-New than it might receive in other to the technical side of the in-rate was quoted at 402. New York-

cross- now being secured, dustry and the perfecting of pro- London was quoted at 394. The wool display emphasised cesses and finishes which enable that, but it also brought out most the merits of the yarns employed clearly the fact that it is now pos to be given full play. sible to produce fabrics which. }

years.

ARTIFICIAL SILK. while they provide aniple warmth; So much limelight has been and protection from the weather, given to artinctal silk, for example are yet light and, what is even in recent years that the merits of more important. enable charming wool have been rather pushed into

fects of me and roll to be the background. secured and retained during the The recent display served to

fe of the garment."

show that there is no reason for Not the least important side of such neglect as far as wool is con- this matter of furthering the usecerned. of wool is that it will reflect bene-" There is no doubt, too, that ever Acially un Empire trade, and that textile producer can now show was shown at the recent parade. fabrics for which there will be a The South African representa- demand wherever their merits are Live of the International Wool made known, In overseas countries Secretariat. at whose showrooms as much as at home. and that the the wool display was staged. point- mills should be kept busy for years ed out the prominence of service to come, ability in the models on view, and

Market

Steady but quiet.

Sterling

York

X

There were sellers at 1/3 Decem- ber, 1/2.31/32 March and 1/2.15/16 June, buyers at 1/3.1/32 Cash" and 1/3 February.

.S. Dollars Sellers at 24.9/16 December. 24. 7/16 January and 24.5/18 February, buyers at 245/8 Cash and 24.1/2

January.

"

Shanghai Dollars

Shortly after the opening there were sellers at 323. At the close sellers were quoted at 321.1/2 for

Spot.

Shanghal Market

Sterling opened with sellers for

HYDRO-ELECTRIC Some very powerful hydro-electric sets have been supplied to various parts of the world and the success gained with them has led to fur- ther sets being ordered. Among those which have been supplied in recent

time may be noted B second Metrovick 24,000 x.v.a. ver- tical water-wheel alternator at Arapunt, New Zealand, and two 12,500 k.v.a. horizontal water- Wheel alternators for the Madras Goverment's Mettur station,

Rhodesian gold mine, and the 3.000 kv.a. alternator at Jerusalem mounted on the crakshaft of a vis- a-vis oll engine.

او

FISHING INDUSTRY COUNCIL

Mr. Winston Churchill, First Lord of the Admiralty, and Mr.

An Interesting installation, on Ernest Bevin, general secretary of

Transport and account of the high degree of the

General automatic operation, is that which Workers' Union, have been discus- includes two English Electric 1,450 sing in the last few days the war- hp horizontal reaction turbines time organisation of the fishing which obtaining their energy from industry.....

the victoria Falls, supply electric Associated with them have been There is all the more reason why/Spot at 4.19/32 and U.S. Dollars current to the town of Livingstone. representatives of trawier owners

U.S.

also drew attention to the way in overseas

at 7.17/32 for Spot. The market, The new plant at the Watak and other. Government depart- buyers should take

closed which the material lent itself to advantage of the prices at present

steadler with sellers of power station in New Zealand has ments and trade unions. styling and fashioning.

sets, each comprising two The result is that a national ruling. for it seems likely that Sterling at 4.41/64 for Spot and two

vertical shaft reaction turbines of advisory couneli, consisting of There was another side, too. in there must be an increase before Dollars at 7.5/8 for Spot, that the woollen fabrics were of long,

23.000 hp. by the English Electric employers, unions and Government Co., Ltd.

departments, with the function of informing and advising the Ministers interested in the industry, is now in process of formation..

יך '

Free China Has Bumper

Rice Crop In 1939

CHUNGKING, Dec. 17 (C.1.C.)During 1939, the total rice production in the fifteen provinces of Free China amounted to 422,000,000 quintals, according to a report of the National Agricultural Research Bureau of the Minis- try of Economic Affairs. This figure, continued the re- port, represents a seven per cent increase over the total production of 1938 or an eight per cent increase over the average of the last seven years before the war.

The 1939 figures even shattered the all time 1931 high when a total of 412,000,000 quintals of rice were produced in the fifteen inland provinces of China.

Afternoon Market

The market was featureless in the afternoon...

Sterling

The market closed with sellers at 1/3 December. 1/231/32 March and 1/2.15/16 June, buyers at 1/3. 1/32 Cash and 1/3 February.

U.S. Dollar

It is natural that these powerful svis come in for a good deal of notice: It is only fair, for they are Indeed outstanding examples of modem British engineering, but it must be pointed out also that there are water turbines and water wheels being made which enable the flow of streams of more modest The market closed with sellers dimensions to be turned to good at 249/16 December., 24.7/16 Janu-account. ary and 24.5/16 February, buyers at 24.5/8 Cash and 24.1/2 January Shanghai Dollars Sellers at the opening at 321 and at the close sellers were quoted at 315 for Spot.

Shanghal Market Steady in the afternoon. "Opened The increase in the rice crease in acreage from 1938 and a with sellers of Sterling at 4.41/84: production of Free China is four per cent decrease from the fand at the close sellers were quoted significant in view of the fact average of the last seven pre-war at 4.45/84 for Spot. that the total acreage

of years:

But the harvest for each -paddy fields in 1939 was con- mow in 1939 was calculated at 387 siderably reduced by the loss siderable increase over the avers ge eattles 1934 kilograms), a con- of the rich rice-producing re- yield. gions along the lower Yang-

tze and certain districts of

the southern provinces, the FRENCH RAILWAY

report pointed out. It fur- LOAN: CONFIDENCE

ther stated that no less than

21 per cent of the total na- tional production of rice were lost as a result of the loss of these coastal areas to the Japanese.

IN CHINA

KUNMING, Dec. 18 (Reuter) -The General Manager of the Szechuen-Yunnan Railway on Saturday called on the Govern- nor of Yunnan to submit a re- port on the French Hallway` Loan

PRICE; ADJUSTMENT The increase in the rice output in the fifteen provinces of Free China during the year under re-editorial view has not only provided sum- elent food for the "people in the Interior but it has also brought: about surplus productton in many places.

In this connection, it is inter- esting to point out that the Chi-

The Yunnan Daily, in an yesterday. states: "This is the first time China has enjoyed such a loan. The confidence shown by France may lead to similar successes with other countries,”

Shanghai Exchange

London New York

Japan

India

Paris ... Hongkong

Shanghai, Dec. 18 (Reuter).

Official T.T. Rates

0/4-1/4 6-7/8 20-1/4 23-1/2 '3.11

28-1/4

Sellers

Opening Closing

Spot Dec.

0/4-41/64 0/4-11/18

Jan.

Spot

Dec. Jan.

EVERY PROBLEM

The council will have the task of handling almost every problem of the industry with the exception of thenxing of prices which is the function of the Ministry of Food:

Immediate, questions, mainly Furthermore, the makers of these raised by the trade unions, which machines have drawn up simple the new council will deal with are: Instructions by means of which sufficient Information as to volume and flow of the water may be obtained to enable the most suitable machine to be selected for the purpose.

the

Building of a standard type of trawler to make up losses caused by Government requisitioning, "«

Re-purchase of British-built trawlers from neutral countries for fishing only.

1

It is a matter which is well worth consideration by those who Convoy system for trawlers have water flowing through their working in distant fishing grounds. land, especially if they are faced A comprehensive scheme for with any difficulties in obtaining employment of fishermen inside or fuel for other forms of power.

outside the industry.

Ід the meantime considerable

Sales organisation in the Ash- progress has been made in other trying trade. fields of electric generation. · In steam-driven sets pressure and temperatures have been rising as may be illustrated by the set built

by the B.T.H. Company for the

Detroit Edison "Company."

It is a super-imposed unit and

FOREIGN EXCHANGE and General Banking Business transacted.

CURRENT ACour opened and FIXED DEPOSIT received for. Ona Year or shorter periods in Local or Other Currencies at rates which will be quoted on application.

SAVINGS ACCOUNT also opened in Local Currency and Sterling, with interest allowed at rates obtainable on application.

CURRENT ACCOUNTS opened in

· LOCAL COEDENCY and FIXKÉ Diosita

The Bank's Head Office in London received for one year or shorter undertakes Executor and Trustee periods in Local and ather Car business, and claims recovery of rencies on terms which will be British Income Tax overpaid, on quoted on application.

い

terms which may be ascertained at

Also up to date SATE DEPOSIT any of the Agencies and Branches.

Boxes in various sizes. To Lar

Hong Kong, 25th September, 1939.

HONGKONG SAVINGS

BANK

R. A. CAMIDGE,

Manager.

THE CHASE 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.

For the HONGKONG & SHANGHAI

BANKING CORPORATION.

V. M. GRAYBURN,

Chief Manager.

Hong Kong, 25th Feb., 1933,

BANK OF EAST ASIA, LIMITED

Authorised Capital......$10,000,000.00 Paid-Up Capital ..... 5,598,600.00 ileserve and Undivided

Prosta

2,883,932.01

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

Board of Directors:

Bir Bhooson Chow, Chairman

Li Koon Chan, Eez. Li Lan Sang, Esq. P. K. Kwok, Esq. Wong Chu Son, Esq. Wong Tun Tong, Esq. Kan Ying Fo, fag.

HEAD OFFICE:

M

18, PINE STREET, American Bank offering com- NEW YORK,

plete Foreign Banking Service in the principal Markets of the world." Interest Rates on Application.

SAFE DEPOSIT BOXES

"

This Bank is entirely owned by THE CHARE NATIONAL BANI, NEW YORK, with Resources of over . U.8.$2,900,000,000,

D. M. BIGGAR,

Second Fica Prik

BANK OF CHINA

Specially Chartered by

THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE

BANK

(BRANCHES ALL OVER CHINA)

Chan Ching Bher, Esq. Fung Ping Wah EPAID-UP CAPITAL 840,000,000.00

Kan Tong Po, Esq., Chief Managar. Li Tae Fong, Esq.; Manager,

Ammay

Branches and Agenciu :--

Korloom Petang

Loudou

BEAHLIA

Kingapore Baperven Sourabaya Baigon SWALOW

Melbourne San Fran- Sydney Nagumka

Batavia Bombay Caietta Haiphong Elsakow

New York

Honolulu

Parla

Kobe

Palping

ciao Tiarst

Seattle

Semarang

Shanghai

VALGOSYST

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: » QUEEN'S ROAD, C South China Offices:

Every description of Banking and Exchange business transacted. Loans granted on approved securities. CANTON

KONGMOON Current Accounts opened in Local SWATOW TOISHAN Currency and Fixed Deposita re- SHIUCHOW KINGCHOW ceived for one year of shorter periods in Local and Foreign Cur and other Public Funds of the We also handle the issue of Bonds rencies on terms which will be Chinese Government both at Home quoted on application.

"SATE DEPOSIT Boxts To Lar.

and Abroad.

KAN TONG RO,

Chief Manager.

SHOU J. CHEN,

Manager.

INDO-CHINA

the turbine will take steam at STEAM NAVIGATION COMPANY LTD.

8001b, per square inch gauge pres-

0/4-41/84 0/4-11-16 aure, 900 degrees F., and exhaust

0/4-39/64 0/4-21/32

U.8, Dollars

$7-5/8 $7-11/16

7-19/32 7-1/2

Market: Quiet.

Merchant Rates Sterling, 0/4-21/32. US. Dollars. $7-5/8.

7-21/32/ 7-2/16

Silver Duty Rate The Central Bank of China's

London at 10 a.m

nese Government has appropriat- Japanese Restrictions rate

ed a sum of $62,325,000 to buy sur-

plus rice from the farmers in Free On Foreign Tobacco today was 1/2-1/2d.

China.so as to forestall a slump of

The Equalisation rate

Wis

24

CHUNGKING, Dec. 18 (Central) per cent

"the" price of rice.

The total acreage of rice fields Sharghat report states that

steam at 400lb. per square inch Operating Services for Cargo and Passengera

gauge pressure into the steam

beatër feeding in parallel with the low pressure bollers, the other sets in the station.

OPERATION ECONOMY Considerable advance has been registered in many departments of broiler design and construction leading to increased efficiency and the obtaining of the utmost econ- omy from, the fuel used, whether it be coal or of

"The treatment of feedwater is another matter to which more at- tention is being paid and resulte have demonstrated that it is some-

In the nfteen provinces under the Japanese are placing restric-| British, & American Tobacco com- thing which is well worth develop- Chinese control during 1939 was tions on the purchase of tobacco pany in "occupted" areas,

ing, not only from the point of given by the Bureau at 218,000,000 leaves by British and American in-

Marketing facilities, however view of better emelency in work- mow (a mow is 1/8 of an acre), terests and instigating a boycott are provided for Japanese tobatering, but also from the maintenance representing a one per cent de- of cigarettes produced by the companies

point of view.

TO-

SWATOW, SHANGHAI, TSINGTÁU, CHEFOO

and TIENTSIN

KOBE and OSAKA

SINGAPORE, PENANG and CALCUTTA

SANDAKAN

HAIPHONG

All steamers berth alongside the Roosevelt Terminal in the French Concession at Shanghai, where passengers and cargo are landed.

For further particulars

please apply to-

JARDINE MATHESON&Co.,LTD. TELEPHONEĎŽOJIL GENERAL MANAGERS

Page 10Page 11