1940-02-12 — Page 9

HONGKONG ·DAILY PRESS

Finance and Commerce

Iron Ore Of Sikang Is CHINESE TRADE China's Richest & Best

CHUNGKING, Jan. 31 (C.1.C.)-Iron ore in Sikang Province," par-" ticularly in the neighbourhood of Sichang, is the best anywhere in China, containing a fineness between 65 and 72 per cent.. according to Dr. Wu Po-yuan, who has returned to Chungking after making an extensive investigation trip for the Ministry of Economic Affairs.

The

FAIR STIRS INTEREST

exhibition

of Hongkong Chinese industries at Morrison Hil, Road, was visited by no less than 400,000 people last week. Not even the product of the Doctor W. A big coal vein across notice are the two wall pictures Interesting exhibits worthy of Tayeh Mine in Hupeh Province, the the Golden Sand River in north of silk-pulp and lacquer at the most noted iron mine in the Yang-ern Yunnan Province has been Chinese te Valley, can match the high con- discovered. Coal from

Handicraft Rellef Co- tent of Sikang ore, added Doctor which has a total reserve of more the charge of Mr. K. T, Yim, M. A the mine operative's stall, which is under Wu. Although estimates on the than 100,000,000 tons will solve all These Sikang reserves differ widely. Dr. fuel and lighting problems for in-Inspiration"

two pictures, Wu is of the opinion there is a de- dustrialization

entitled, posit of from 10,000,000 to 15.000.000 northern provinces. The Ministry tury of Progress Exposition in

in Sikang and Teachings,"

and "Confucius came from the Can- tons of iron ore. The Tayeh Mine of Economic Affairs has completed Chicago. was operated by the Hanyehping a survey of the iron, copper and Company. It had an ore reserve coal

deposits.

Production will

of about 28,000,000 tons, about half start within a year. "of which had been mined before the

Doctor Wu will return to Sikang Chinese withdrew from Hankow in after a month's stay in Chungking. October 1938. The iron ore con-while here, he tent of that mine was about 60 per technical staff to work on the will choose a cent. Ane.

numerous projects in Sikang.

INCOME TAX REPORT

NOW READY

Aside from copper of WhiCTI theres reserve of 100,000,000

OVERSEAS INTEREST

The report of the Income a Meanwhile, the overseas Chinese Committee will be submitted to tons in one Sikang district alone. in the South Seas have organized Government within the week. It is Doctor Wu reported that the pro-a kang development company, learned. vince has rich gold reserves. The through which raw materials from gold-mining bureau of the Minis-the "province will be marketed taxes suggested Include a Salaries It is rumoured that alternative try of Economic Affairs plans to abroad in exchange for foreign Tax, a Corporation Profits Tax, work the mines by machinery... It machinery and is entrusted with the task of pro- goods. This development company to a Corporation Tax) and a Pro- manufactured a Business Tax (somewhat similar ducing, collecting and purchasing is capitalized at $3,000,000, which perty Tax. gold. Bikang

has

tremendous may later be increased to $10,000,- possibilities for gold-mining if 000. It will invest $1,000,000 in methods can be introduced rapidly mining.

FINANCE

COMMUNICATIONS OF CHINA DESCRIBED IN

MINISTER'S SURVEY

CHUNGKING, FEBRUARY 3 (0.1.C.) —TO DEVELOP COMMUNICATIONS MORE WIDELY, CHINA MUST HAVE an efficient and centralized organization, an increase" in transportation facilities and service stations, and a deter- mination on the part of the people to economize, declared Mr. Chang Kia-ngau, Minister of Communications, in The Central Weekly of Chungking. The first step is materializ ing with the recent organization of the China Transport

nation's financial strength, while the third demands the co- Corporation which will absorb all civil transport systems in China. The second one will be carried out according to the operation of every Chinese citizen, he added.

more

MONDAY, FEBRUARY 12, 1940. -PAGE 9 WEEKLY RETURNS AND REPORTS

Public Deponits Other Deposits:-

Bankers

BANK OF ENGLAND

Otter Accounts Total

3

44.340

London, Feb. 6 (Reuter).

Feb. 1

Feb. 8

39.630

28,630

98,140

108,650

45,750

142,480

Government Securitien Other Becerities:-

132,400

119,360

121,840

Discount & AdvRLESCEN Securities Total

3,060

2,400

94,590

24,860

27,590

27,950

53,250

..49,900

970

Notes in etrculation

1,000

527,

7.720

831.110

Ratio of Reserve to Liabilities

29.33%

27.53%

Price of Gold at which holdings are valued

.168

168

>

Notes and Coins

Total Bullion

FEDERAL RESERVE SYSTEM

U.S. Securities held Federal Reserve Ratio

Federal Reserve Credit Outstanding Industrial Advance Monetary Gold Stock

New York, Peb. 8 (Reuter):

(000' critted) Feb. 2 - Feb. 1 Feb. 8

#

2,564,000

-85.14%

2.477.000 2,477,000

87.50%

87.50%

1,582,000 2,503,000 2,518,000 14,896,000 17,931,000 17,998,000 14.811,000 10,373,000 10,485,000

war, more than 5,700 kilo- is 1.200 kilometers, and if the Since the outbreak of the territory to an inland destination metres of highways were built average round trip takes sixteen.

of China's highways includ-serve, they will make a grand total in the interior of China. This days. China must keep 8,000 trucks figure brings the total distance ed by 20 per cent of trucks in re- running continuously Supplement- ing those in the Japanese- of 10,000. If the minimum cost of penetrated areas-to than 82,000 kilometres.

a truck in China is $10,000, then the total cost of 10,000 trucks. Despite numerous effort's made would be $100,000,000. Mr. Chang in developing China's communica- estimated that if a truck in China 1,200 tons in May of 1938. No in- REHABILITATION OF Mons in the fear, Minister Chang can only rum 100,000 kilometers crease in the tonnage was made, said that many problems have yet and that if the dally travelling however, after that, as the rainy to be overcome before the nation distance is averaged at 150 kilo- can expect to have a highly ser-meters, its life is only 20 months. getting large numbers of mafoos

N. KWANGTUNG season and the difficulty of viceable transportation system. In Hence the question of repair and had made rapid development -

WAR ZONE road maintenance, he pointed out, upkeep for the highways and possible. Minister Chang estimat A set of comprehensive measures SHIUKWAN, Feb. 10 KCentral-

highways. This amounts to a little sumption of gasoline, continued lers are needed in order to carry habilitation Committee for the res- China is spending only $8,800,000 a trucks is of paramount importance.ed that 3,000 horses, 37,000 men, has been mapped out by the North year for every 10,000 kilometers of

Even more costly is the con- 1,700 hand-carts, and 11,900 pul- Kwangtung War Zone Rural Re- meter built. If the highways in above figures, the 8,000 trucks city to over $70 a month for every kilo- Mr. Chang. It based on the 18,000 tons of goods from one toration of rural economy in nine.. Hunan Province the best China, which require more than ter-trips a year would cover a believes that animals will have tions will be re-erected to estab-

In travelling 45 single, 1,200-kilome- labour is available very easily, he

another every year. If war-devastated districts. $180 a month for the maintenance total

Houses destroyed by war opera werk of a kilometer-are to be kilometers. If a gallon of gasoline wartime overland transportation tle and implements will be loaned distance of 432,000,000 an important place in China's lish the war refugees, while cat- as standard, $13,000,000 can supply fuel for a 10-kilometer system .* more has to be spent on every drive, 10,000 kilometers of highways, or

then the 432,000,000

to needy farmers to stars work The rapid currents and subter-again. kilometers would require 43,200,- ranean rocks in most of the rivers $106,000,000 more LONDON, Feb. 11

the total 000 gallons, costing $132,000,000 (Reuter-length of roads "in China each money market yesterday year. The enormous cost has made ditionally. Minister Chang esti- at a rate of $10 per gallon. Ad- generally remained easy. Dis-expensive, road improvements in mated that $72,000,000 must be counts tended to sag on inquiry China impracticable under present spent for bill by clearing banks, The | conditions.

tires for the whole £50,000,000 Treasury bills offered

allotted at the average rate of £1.0.6, compared with £1.0.10 last week.

Competition for bill has been SalesMorell again keen, but the market re- ceived 36 percent, of their ap- plications.

$1,000,000 in banking. MONEY MARKET

CLOSES EASY

and the co-operation of the tribes $500,000 in establishing factories, per le obtained, according to the and the remaining $500,000 for explorer.

building up department. Ccal "s the

abundant hotels, transportation lines mineral in Siking. pointed out inther facilities.

least

stores.

and

The

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGE

SHAREBROKERS' ASSOCIATION

Enyore

Bellere Bales

| Nomlası |SATURDAY 10.)

FEB.

#1880

Bankr

H.K. Bank

£89

Do. (Col. Eg.}

£87

Da. (Lon. Rog)

£9 15/16 Chartered Banks

E28 Marcantile Bka. "A"

Marcantile Bha "C

Bayern Balleri

$1400

084

£87

£287

£11

878

Bank of Ears Asla

2111

N. C. & B. Banks

$7A

50 cts.

Insurances

0918

Canton InsurWBORN -

$215

$455 Union Insurances

$480

Underwriters *

cta

$180

$100

$100

$10

8101

$100

$120

74/41

$180

$4.60

$56

$35+

: ོལ: ུ།

$92.40/60

8315

#36 3351/0

H.I. Fie

Shipping

Douglaster

Steamboats

$100 Indo-Chines (Prod.)

$80

Indo-China (Del.)...

74/4Shell

$7 Waterbosta

Docks, Wharres,

Godowns, etc.

#103 HK. & E. Warrin

Providente

TAMIN

Providenie (new) H.K. & W. Decks...

Do. (new)

Shanghai Docks 8. ... $29 New Engineering B.

Mining

Veneraals Gold - Fide

[31 cts, Hong Kong Miam ... Lands, Hotels and

Buildings

B.K. Hotel

H.E. Land

$100 Do. 4% Dabaciorm 28 $18.30 Bhanghai Lands 8. $4.55 H.. Beaties.......

Humphrey

$101 Chinese Estate

Cotton MilIS

837 Ewo (8.)

*******

$179 B'bal Cottone (5)

****

$41 Zoong Bings (8.) $48 Wing Ou Tartiles (8.)

Public Utilities

18/0 Kailan

$10

Baube

$4

+

were

Wall Street closed easy.

H.K. STOCK EXCHANGE

SATURDAY, FEB. 10, 1940

The "week has been broken by the Chinese New Year holidays, trading being confined to prac- tically only two and a half days. A feature of what trading there has been, is the buoyancy of the whole market, There was no

forced liquidation of any kind, in- deed

although buyers increased

their offers there has not been sufficient scrip to satisfy the de-

$102) mand.

Lands $35.

BUYERS

Tramways, $18

$4.60

($23.40/92)

$315

$29

18/0

Ropes $5.70.

$94

T

$5.55

$4,50

11

!!!!!:

936

100%

$37

Yaumati Ferries $241. Electrics, $57.

Dairy Farms $21.

Entertainments $7.

Lands $36.

SALES

Tramways $181."

MANILA GOLD SHARES

Atoks 19h, Antamok 1648-Baguio Gold 234b, Batong Buhay 0145," Big Wedge 201b, Coco Grove T4s, Con Mines, 0040s; Demonstration 13s, Sast Mind. 10b, IZL. 374b. Ipo Gold 11b, Itogon Mining 28b,' $179

Mand, Con. 014b, Masbate Con. 10s. $100 Mind. Motherlode 10s,Mine. Opera- tion 10's, North Camarines 1015. Paracale Gummaus 123b. Ban Mauricio 82b.. Surigao Con, 175, Suyoc Con.. 124b, Syndicate Inv. 025b, United Paracale 318, Ben- guet Con. 5.40b,

344

$120 $181

Tramways

$18.20

1.04

Peak Trama (old)- ... Peak Trams (www) **

#8

34

$97 Star Ferrian

$68

8242

Y'mati Ferriss

$241

Do. (new)

$7.80

China Lights (0)

$7.60

Chins Lights (New)

$4.80

Chins Lights Rts.

$37 #574

H.K Electrice

$381

$14.90

$12

$1

39.20

IN

***

∙$20) Macro Electom

$11

Sandakna Lighte |Tairphones (öld) ..--

Telephones (new)

19/6 Tractions

19/9 Tractions (pref.) .........

**Industriala

Cald., Maog (Ord.) §. Cald, Macg. (Prof.) 8.

Cación lommes

$10.10 $19 $10.20/10 CE

Hopea otá

Dairy Farm (Old) ...

Dairy Farm (New)

Ch. &'ainmate

Constructions

#74 Lane, Crawforde

$6.70

$21.80

$21

17

$14

MistellancoTE

$19

$9.30

21.0

37

$1.95

Constructiona

(new)

$8

Nanyang Tobaco.

$9.45

$1.80 Biposresude Watecus

#31

$2

80.45

150...

[100′′))

98%

$10

$9,10

50%. Ch. G.5% 1996 Bd.

$100 R.K. Gori. 1% Loan

3851 H.K. Gort.34% Losk 841

gal

15/0

Vo

い

H.K. Wing C

'hd Wing Ona

Vibro Piling-PLANKLIN

Marsmans Irv. {Lpn.)

Macamans Inv. (H.K.)

Wm. Powellsmeren

¡Bales to Bhanghai

31

BUSINESS DONE DURING

THE WEEK

Hongkong Banks $1,410, $1,400. Steamboats $104.

Hongrong Docks $211. $21.60,

Providenta $41. $4.60, $4.85.

Hongkong Hotels $5.20..

Hongkong Lands, $354, $354, $36. Humphreys, 291..

Realties, $4.55,

Tramways $17.70, 318, $181.

Star Ferries $87.

Electrics $56, $564, $571. Telephones (Old), $24},

Cements $184, $18.80, $18.90, $18,

$19.10, $19.20.

Dairy Farms (Old) $21†, $22. Watsons $0.20, $8.40, $9.45, $91. Govt, 4% Loan, 100,

HONGKONG

SHAREBROKERS:

ASSOCIATION

on

HUGE FLEET OF TRUCKS

021

trucks,

ANIMAL TRANSPORT

8.000

in interior. China have prevented groups have been formed and sent Several re-housing supervisory developed on a wide scale, Grate house-building work. water transportation from being to the various districts to attend trying results. however, have been achieved in the waterways in Kwangel, Hunan, Hupeh and Szechwan which

provinces, most. of Chungking and Tchang. Improved are highly navigable at junks with a maximum capacity transportation. Present, Eforts have slaw been of 80 tons each have been per- also made to reduce the dangers of fected by the Ministry of ComTM waterways, especially along the per cent faster than the old-type shipping in the inter-provincial munications. They can travel 30 famous Yangtze Gorges, between junks.

The vastness of Interior China

Besides motor carry on Its International trade, been calls for a huge fleet of trucks to animal transportation has

encouraged. added" Mr. Chang. If the average carried by animals was increased

The distance from the nearest foreign from 380 tons last February to

SHOE CO.LTD.

HONGKONG BUPPLIES ALL "KINDS OF FOOTWEAR

THE MOST RELIABLE LIQUID INSECTICIDE

GEE, IT'S SWELL

NOT TO BE BATHERED WITH

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THAT'S BECAUSE

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FLY-TOX

Obtainable at all leading, ug.

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What do

you want ?

"mall advertise

If there is anything you want to buy or sell, try Classified ment in the Hong- kong Daily Presi

25 words $1.50 prepaid

for 3 insertions...

BANK NOTES IN

CIRCULATION

Returns of the average amonйt of bank notes in circulation in Hongkong, during the month ended January 31, 1949, as certized by the Managers of the respective Banka: Chartered Bank of India, Austra- Man and China $25,494,354; Hong- kong & Shanghai Banking Cur- 250 $4.65 poration $195,232,228; Mercantile

Volume Of Business Transacted

on Saturday, Feb. 10, 1940 ́ China Prpy.povepedinica HK. Tele. (New)..... H.K. Elec

freight

•Hongkong Daily Press CLASSIFIED ADVERTISEMENTS

ENGRAVERS

FEI FEI & CO. Photo Engravers 18, Cochrane Street, Telephone No. 22224,

AUCTIONEERS

GREATEST COLLLETION OF BARGAINS IN TOWN) 51

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Jimmy's

BUTTERICK LADIES TAILOR

Winter Sale

Ready, made Overcoat. and Dreases made to order. No. 16 Wyndham St. Tel. 23615.

We have in Stock and for Sale Great Varieties of used and unused

POSTAGE STAMPS in sets, bags, packets, single, and in approval books. for collections

80

Flower & Vegetable Seeds

GRACA & CO. Dealers in Postage Stamps, Religious Goods, Garden Seeds, Toys, etc., etc.

No. 10, WYNDHAM STREET.

HONG KONG Established 1806.

26 9,20 Bank of India, Limited $4,844,127 P.O, Box No. 620, 152 57.25 Total: $225,570,708,

MARBLE HALL

(and Annexe Private Hotel). 34, Granville and 103, Austin Roads, Kowloon, tennis courts. Beautiful garden. Rooms" and suites with private bathrooms, All modern conveniences. Apply proprietress, 103, Austin Road. Phone 50233 and 34, Granville Road. Phone 59433.

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