1940-02-19 — Page 10

MONDAY, FEBRUARY

BANKS

19, 1940.

HONGKONG & SHANGHAI THE CHARTERED BANK OF

BANKING CORPORATION

Authorised Capital. $50,000,000

INDIA, AUSTRALIA

AND CHINA

Issued & Fully Faid-Up 850,000,000 Incorporated by Royal Charter, 1883

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

Sourabaya

Haiphong Muar Hamburg (Johore) Tientsin Bankow Mukden Tokyo Harbin New York Tsingtao Cloilo Peiping

Yokohama

CURRENT ACCOUNTS opened in

NEW YORK

(Peking)

TRINGTAO YOKOHAMA

FOREIGN EXCHANGE and General · Banking Business transacted.

CURRENT ACCOUNT# opened and FIXED DEPOSITS received for One Year or aborter periods in Local or Other Currencies at rates' which will be quoted on application.

38-1/2 38-1/2 38-1/2

38-3/8 30-3/8 38-3/8

34-7/8 34-7/8 34-7/8

Buyers 13

Previous close Today's close

Buyers

12-1/2

11-15/16

Markst

On Bangkok:-

On demand.................................... 150 1/4 On Sterling Notes:-

Bank Buying Rate....1/311/16

***** 20 3/4

Bac Silver per os

Market Report

FROM ROZA BHOS. The price for Ready Suver was unchanged at 20.3/4 but the For ward rate dropped. 1/18 to 20. 11/16. Silver advices reported the market as being quiet with a American small business done. Silver was quoted at 34.0/4 for Spot...

The London/New York croes- rale was quoted at 402.1/2 New York/London was quoted at 398-

Quiet,

JULY-SEPT.

OCT.-DEC.

NEW YORK COTTON: There have been some Spot house selling for March and some of the opan interest in March transferred to May. The market was quiet though there was constant domestic and spinner buying on a broader scale. Open interest in May now totals 1,100,000 bales and is expected to exceed 1,250,000 bales. We ex- pect May positions will become increasingly strong when May con- tracts approach maturity.

Better consumption outlook and light NEW YORK RUBBER: offerings at higher prices were today's stimulating influences.

CHICAGO WHEAT: The bullish interpretation of the official Argentine crop estimate was off-set by fears of the release of the government loan wheat which amounts to 137,000,000 bushels and which will mature on April 30.

NEW YORK STOCKS: Previous close, 148.20; Today's close, 148.72; Change, up 52.

NEW YORK COMMODITY MARKET (REUTER'S SERVICE)

Baltimore & Ohio Barber Asphalt Co. Barnsdall Of

Bendix Aviation Bethlehem Steel Bliss & Co.

Boeing Airplane Co.

Case, JÍ.

11-1/4 11

PAGE 10-HONGKONG DAILY PRESS

FINANCE

FOREIGN MARKETS & QUOTATIONS

MONEY AND

EXCHANGE

CLOSING QUOTATIONS

FEBRUARY 17. 1940

On London:-

Telegraphic Transfer, 19 13/16 Bank Bills, on demand 1/2 13 15 Credits 4 months' aight 1.31/8

On Shanghal:—“

On demand 343,

On Singapore:="

On demand

On Japan

52-1/2

On demand ... 103 1/4

On India:

Telegraphic Transfer. 169 1/2

and demand........

On New York:-

Bank, Bills, on demand 21 3/8 Credits, 60 days sight 35

On Batavia:-

On demand

On Paris:-

43 3/8

Bank Bills, on demand 1085 - Credits 4 months' sight 1140

PAYNE & CO.

COMMODITY“ BROKERS

·STOCK · EXCHANGE "BUILDING HONGKONG

COMMODITY MARKET REVIEW

(FROM PAYNE & CO.)

SINGAPORE RUBBER

SPOT APRIL-JUNE

JULY-SEPT.

NEW YORK, FEBRUARY 17, 1940. Previous February 17. Closing Opening ClosingChange Buyers Buyers

The market was steady but quiet. LONDON RUBBER

SPOT

APRIL

On Salgon

MAY

On demand

......... 108 14

On Manila:-"

On demand ...

.... 48 3/4

NEW YORK STOCK EXCHANGE

STOCKS

Allied Stores

QUOTATION

(REUTER'S HERVICE)

Last Sale

FEBRUARY 18,1940

STOCKS

Reserve Funda!

Last Sale

Feb 17

Feb. 17

Adama Express Alleghany Steel Co.

གས

Kennecott Copper

561

..$20,000,000

221

Lakey Foundry & Mac. .....

Sterling H.K. Carrenoy Reserve $10,000,000 Reserve Liability of Pro- Reserve Liability of

pristors

£3,000,000 Proprietors

HEAD OFFICE: LONDON:

.£1,000,000 £3,000,000

..N

9

Libbey-Owens-Ford - Glass

501

Head Office:-HONG KONG

Ailis Chalmers.

374

Lockheed Aircraft

30%

Aluminium Ltd.

95

Loew's Inc.

361

Amer. Can

1151

Mack Truck Inc. .....

253

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

American Cyanam'd. B) Amer. & Foreign Power Amer & Foreign ST pt.

351

Martin, Glen L.

41

Chairman.

10

McKesson & Robbins, pfd. 241*

H. V. Wilkinson, Esq.,

25)

Monsanto Chemical

110

American Gas & Elec.

35)"

| Montgomery, Ward

54

Amer. Locomotive

191

National Aviation

12}"

unch.

Amer. Metals Co.

241*

Nat, Dairy Products

17

Amer. Radiator.....

91

Nat. Distillers

241

D. F. Landalo, Esq.,

Amer. Rolling Mill

151

National Gypsum

111*

Amer. E'ting and Ring Co.

503

National Lead.....

201

K. 8. Morrison, Esqë,

Deputy Chairman.

J. K. Bousfeld, Esq., A. H. Compton, Esq Hon. Mr. 3. H. Dodwell,

G. Miskin, Esq.,.

38, Bishopsgate E.C.2

• Sub-Agencies In London: 117/122, Leadenhall Street, ECL West End Branch: 14/18, Cockspur Street, S.W.1, Manchester Branch: 52, Mosley Street, Manchester, 2.

AGENCIES AND BRANCHES:

HAKAIX

ALOR STAR ANRITHAR BANGIDI

BATAVIA

TONG TONG BANGOON IZOILO

IPOR

PENANG

| Amer, Sugar Refining ̧.

214

Nat, Power & Light......

Hon. Mr. T. E. Pearce,

BOMBAY

Change

| Amer, Tel, & Tel.

171

National Steel Corp.

69

C. O. Robarts, Esq...

Amer. Tobacco "B"

90

National Supply Corp...

9

Amer. Waterworks

10

New York Central

17.

Anaconda Copper

291

Market closed

Niagara Hudson Power

"51

Atchison, T. & 8, Fe

231

N. American Aviation

247

Auburn Motors

14

North American ..Co.

211

Amoy

Branches: Ipoh

Sir Vandeleur M. Grayburn.

Chief Manager.

(CALCUTTA

KLANG

AGENCIES: KOSE

CLIVE STEMET KUALA PALLIN PROB

CANTON

CAWNPORE

£

51

Northern Pacisc

87

Bangkok

Johore

Batavia

Kobe

152

Penang. Rangoon Saigon

"ČEBU«

COLOMBO DELHI

MADRAS MANILA

SAIGON

SEREMBAN

KARACHI

SHANGHAI

SINGAPON

BITIAWAN

BOUBABAYE

LUMPUR

TAIPING

KUCHING

TIENTSIN TONGKAM

(Bbuket)

MADAN S

Owens-Dimals Glass Co.

HAIPHONG

Bombay

Kowloon San

114

Pacific Gas & Elec

HAMBURG

PRIPING

34+

Calcutta

Kuala

817

Pacific Lighting

47+

Canton

Lumpur Shanghai

Fragcisco. KANKÓW

781

Packard Motors

31

Chatoo

London Singapore

14

Paramount Pictures

Colombo

Lyons

24

..

Pennsylvania R.R

221

Dairen Malacca Sungei

Borg-Warner `....

231

Phelps-Dodge

381

Foochow Manila

Bridgeport Brass Corp. Briggs Mfg.

11

Phillips Petroleum

Patani Swatow

391

211

Pittsburg Coke & Iron

Brooklyn-M'hattan Trans.

.190

Public Service of NJ,

Brooklyn-Manhattan $6....

764

Pullman Inc.

Canadian Pacific R'way

5

Pure Oll

691.

Radio Corpn, of Am.

Celanese

297

Reading Company, Com

18

Chesapeake & Ohio Chrysler Corpn.

407

Reading Company, 1st pfd

28"

852

Remington Arms Co., Inc.

+1.

Climax-Molybdenum Co...

301"

Republic Aviation Corp. .....

Colts Patent Fire-Arms...

781

Republic Steel

21

Columbia' Gas & Mec. ..............

Revere Cop. & Brass Inc.

13

Columbia. 6% "A" pt.

Reynold Tobac. "B"

107

Sterling

Feb./May.

There were

1/27/8 sellers at buyers at 1/2.29/32 Cash and 1/2.7/8 July.

U.S. Dollars

Sellers at 24.1/2 first half March, buyers at 24.5/8 Cash and 249/16 frst half March.

"U.S." Dollars

There were sellers at the open- Ing at 358 and at the close sellers were quoted ut 353.

Shangha! Market Opened with. sellers for Sterling at 4.9/64 for Spot and towards the close the market was a shade steadier with sellers at 4.3/18 for Boot.

Shanghai Exchange

Shanghal, Feb. 17 (Reuter).

Official T.T. Rates

New York Cotton, Mar." New York Rubber, Mar. Chicago Wheat, May Chicago Corn, May New York Hides, Mar, NEW YORK COTTON March

1031

Prev. Today's High Low Close Close Change 11.04 11.02 11.03

unch. 19.10 19.03 19.00

1041 102

Commercial Credit Co.

467

Richfeld OU

Com, & Southern (Ord.)

11.

Safeway Stores

50

11.03

19.00

Consolidated Edison

32

Schenley Distillers

124*

.09 up

Consolidated Oil

*

Sears Roebuck

891

1037

off

Continental Can

461

674 58)

561

561

unch.

Continental Oil

241 Shell Union Ol

11

Socony-Vacunum Oil

112

14.35

14:07 14.18 14.07

11 of

Copperweld" Steel

16"

Southern Pacifc

13#

Corn "Products

65

Close

Opening

Closing

Change

Southern Rly $5 pfd.

291

Curtiss Wright (C.)

109

Sperry

451

11.03/03

11.02/02

11.03/03

unch.

Curtiss Wright "A"

29+

Spicer Manufacturing. Co, 317

May July

10.78/78

10:76/78

10.78/76

.02 up

Deere & Co.

211

Standard Brands

ཏྟཱ

10.37/38

10.38/38

10.38/38

.01 up

Distillers Corpm: --Seagrams

191

Stand Gas & Elec.

1#

July (New contract) October

10:52 N

10,55. A

10.55 N

.01 up

Douglas Aircraft

821

Standard Oil of California

241

9.72/14

9.75/75

9.74/74

.02 up

Du Pont de Nemours

1841

Standard Oil of NJ.

441

December (

ས

J.

9.62 N

9.64/64

9.64/64

03 up

Eagle Picher Lead

107

Stone & Webster

101

Hong Kong, 28th Feb., 1939.

January (..)

9.58. N

9.61/61

9.62/62

.04 up Eaton Mfg. Co.

314

Studebaker-Com,

12}

Spot

11.14 N

11.18 N

.04 up Elec. Autolite

381

Swift International

314-

Total sales yesterday:-56,500 bales.

Mec, Bond & Share

74

Technicolor,

.154

19.00/00

18.98b/19.03a 19.09/09

First Notice Day for March Cotton-27/2-Last Notice Day-15/3 Elec. Bond. & Share $6 pf. NEW YORK RUBBER . March

Elec. Bond & Share 15 pr.

58

Texas Corpn.

441

651.

Texes Gulf Sulphur.

BANK OF EAST · ASIA, LIMITED

Elec. Power & Light $7 p.

301

Timken-Axle

May

18.51/53

18.00/61

18.550/59a

July

18.20/25

18.30/32

18.25/30a

.09 up .05 up .05 up

Fisk Rubber

151

Trans-America. Co.

54

Flintkote

197

20th Cent. Fox.

12

Gen. American Trons.

544

20th Cent. Fox, $14 pt.

234"

Authorised Capital......$10,000,000.00 Paid-up Capital .......................... 5,598,600.00 Reserve and Undivided

Profits

1,883,039.01

September

17.95/99

18,07/08

18.02 N

.07 up Gen Electric

381

Union Carbide & Carbon

841

December

17.74. N

17.85 N

פנו 13,

Gef, Motors

531

Union Pacific

931

London

New York

Japan

0/4

6-9/16

21-7/8

Total sales:-1,130 tons.

First Notice Day for March Rubber-28/2-Last Trading Day-27,3 CHICAGO WHEAT

Gen. Railway Bignal

167*

United Aircraft

471

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

Gen Tire & Rubber

22

United Airlines Trans

151

Glidden Co

18

United "Corpn.

24

Board of Directora:

India

22-1/8

Goodrich (B.F.)

181

May

Paris

2.94

1

July

Hongkong

20-3/4.

September

1031/1041 103/1021 1013/102 101/1001 1001/1004

2

United Corpn. $3 cum pf.

W

401

Bir Shonson Chow, Chairman

1027/103

i on

Goodrich $5 pt, ...

64*

United Gas Corpn.

17

Li Koon Chan. Ess

Li Lan Sang, Esq.

1001/1001

7 off

Goodyear Tire & Co.

243

United Gas Improvement

P. K. Kwok, Esq.

144

100+/1004

unch.

Great Northern Iron Ore ..

14

Sellers

US., Industrual Alcohol.

214

Opening

Closing

Friday's sales:--23,567,000 bushels

Great Northern Rly, pfd,

24

U.S. Rubber

378

Spot

0/4-5/32

0/4-5/32

Great Western Sugar

271*

CHICAGO CORN

US. Rubber $8 píd.

112

Feb.

0/4-5/32 0/4-9/64

May...........

Mar.

0/4-3/32 0/4-5/64

U.S. Dollars

July

September

561/561 57/57 674/571

587/561

561/561 58 A 57/579.

unch. Greyhound Corpn. ·

161

US. Steel

-581

i up

Hercules Powder Co,

89*

Vanadium

332

סט .

Homestake Mining

561

Walworth Co.

51

Amos

International Harvester

57

|

Warner Bros. Pict.

41

Bombay

8pat

$8-27/32

$6-7/8

WINNIPEG WHEAT

Inf Nlekel

371

Feb.

8-27/32

..

Mar.

6-27/32 6-3/4

May......

July

October

864b

874/873 887B

871/871

881/881 891/894 901B

1 np

Westinghouse Elec,

On locatin

1134

Int, Tel, & Tel

4*.

17 up

Johns Manville

724

1 up

J. & Laughlin Steel 37 pid. 611

Woodward Iron Cor. Chase National Bank National City Bank

244

Habrow

Masalala

35 291*

Peping

11

Shangha

NEW YORK HIDES

March

June

* 14.18/19 * 14.21b/35a

14.46/47

September ......

14.07/08 .11 of 14.52/53 ... 14.37/37: .09 14.73b/75a 14.76b/82a 14.65/85 08 off

hid.

6-23/32

Market:-Uncertain.

Merchant Rates

Sterling, 0/4-1/8,

U.S. Dollars, $8-13/16.

Silver Daty Rate

The Central Bank of China's rate on London at 10a.m. today was 1/2-1/2d.

First notice day for March hides:-28/2/40 last trading day:-- 25/3/40.

New York, Oficiai 34-3/4

The Equalisation rate was 9NY-London Cross Rate 3.96

per cent....

India Rupee Paper

+

Bombay, Feb, 17 (Reuter). Government 31% Rupee, 91-3-0 nominal.

Calcutta Exchange

Calcutta, Feb. 17. (Reuter), T.T. on Japan, 784.

New York Exchange

New York, Feb. 17 (Reuter), TT, on London (Opening Rate), 3.901.

LONDON METALS

EXCHANGE London, Feb. 16 (Reuter).

Ouyers sellers

TIN

Standard, Cash: 240-3/4 241 Standard,

3 months 240-1/2 240-3/4

Standard'

Setment Price Straits

286

unquoted. 3,95-7/8

PROMOTING CHINA'S↑ STOCK EXCHANGER

TEA EXPORT

Mr. Shou Ching-wei, General Manager of the China Tea Com- pany, who recently arrived in the

LONDON, Feb. 18 (Reuter). 8tock Exchange supplies of loan- able funds continued low in borrowers' favour,

Contrary to general expecta

Colony from Chungking to con- tions, discount houses failed to

1930

‚Í—ex, divs.

DOW JONES AVERAGE

Low, Dow Jones Averages Feb. 16,

156,99 141.41 20 Industrialk

35.90 94.14 20° Baža,

148.20 3788

Feb. 18, 1940.

SAVINGS ACCOUNTS also opened in Local Currency and Sterling with interest allowed at rates obtainable LOCAL CURRENCY and FIXED DEPURIT on application. received for one year or shorter The Bank's Head Office in London" periods in Local and other Car undertakes Executor and Trustee rencies on terms which will be business and claims recovery of quoted on application.

British Income Tax overpaid, on

ALBO up to date Bars DePOSIT | terma “which may be ascertained at Roxes in various sizes To La [any of the Agencies and Branches. Hong Kong 11th January, 1940.

"R. A. CAMIDGE,

Manager.

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 HoNGIONG & SHANGHAI BANKING CORPORATION.

THE CHASE BANK

15, QUEEN'S ROAD, CENTRAL

HEAD OFFICE:"

18, PINE STELST,

- NEW YORK. An American Bank offering com-

plete Foreign Banking Service in the principal Markets of thJUN 7. M. GRAYBURN,

world Chief Manager. Interest Rates on Application.

Wong Chu Son, Esq.

Wong Ina long, 2wq, Kan Ying Po, Bag.

14

SAFE DEPOSIT BOXES

This Bank is. entirely "owned by THE CHASE NATIONAL BAKE, NEW YORK, with Bostrom of orig 1.8.$2,900,000,000,

D. M. BIGGAR

Second Fica 'Pros.

BANK OF CHINA

Specially Chartered by

THE NATIONAL GOVERNMENT

OF CHINA'AB AN INTERNATIONAL EXCHANGE

BANK

Chan Ching Shuk, Esq. Fung Ping. Wah EPAID-UP CAPITAL $40,000,000.00

Kan Tong Po, Esq., Chief Manager. Li Tas Fong, Esq., Manager.

Branches and Agencias :--

Kartos Penang Bingapore Lalog Bangoon Boursdays

Saigon Awaken

Alphony

Kalbonima „Ban Frans Bydowy

ciao Timbiko Magka New York Brita Vancouver

Semarang

(BRANCHES ALL ÖVER ČKIÑA).

Owing to our numerous Ezanches 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 TUISHAN KINGCHOW

Every description of Banking and #Exchange business transacted. Loans -granted on approved securities. ・・

Current Accounts opened in Lodal Currency and Fixed Deposita rê« ceived for one year or shorter High Low Close Change 149.98 148.43 149.73

periods in Local and Foreign Cur- We also handle the issue of Bonds' rencies on terms, which will be and other Públic Funds of the quoted on application.

Chinese Government both at Home and - Abroad.

SHOU J. CHEN,

Manager.**

-31.04 30.93 · 20,94

up

NEIMI

37.70 20.70 90 Utilition

29.99 84.51 40 Bonds

.06, p.

94.92 25.05 $4.94 24.99 .07 up 89.23

65 67-45.59 · 11. Commodity Index 69.72

80.32 .09 up 59.63.19 ́oil·

Business Done -100,000 sharON

Sart Deposit BOXER TÓ LET.

KAN TONG PO,

Chief Manager.

INDO-CHINA

sult with various local circles on obtain their quote of Treasury STEAM NAVIGATION COMPANY LTD.

the export of Chinese tea to Europe Bills at a a better rate than that and America, will shortly return of last week to Chungking to report on the success of his mission here.

The actual average rate was Operating Services for Cargo and Passengera

against £1, and 6d. while the "TO- Beginning with the current year, amount allotted was only £60,-

It is understood, the Chinese Goy000,000 of £65,000,000 offered.

Wall Stread closed steady." ernment has sppointed the China

Tea Company as the sole concern

to undertake teu export,

The capital of the Company, in the meantime, has been increased to $10,000,000 and a number of tea experts will be appointed to

SILVER MARKET

BOMBAY SILVER Bombay, Feb, 17 (Reuter). Market Quiet but' steady, Off-

Indian Mint'.Silver

Important posts with the company. take 50 bars,

In order to facilitate purchase of tea in various producing dia- tricts and to improve its quality, the Company will establish experl- mental stations or plants in a number of tes-producing centres, according to Mr. Wel

"Ready

Mar. 4 Bettlement". Apr. 3 Settlement

SWATOW, SHANGHAI, TSINGTAU, CHEFOO

and TIENTSIN:

KOBE and OSAKA

SINGAPORE, FENANG and CALCUTTA SANDAKAN

HAIPHONG

All steamers berth alongside the Roosevelt Terminal in the French Concussion at Shanghai, where passengers and cargo are landed; a

56-07 54-09

For further particulars

please apply to-

54-13

In addition to Boviet Russia recently received large orders for

DINE I

ENERALI

GERS

which has been the largest tea from both European and TELEPHONEOXIL

customer for China tea, China has American countries, it is learned.

THE KWANGTỤNG · PROVINCIAL

BANK (Inonépmestel in China)

Gederal Banking Facultimi and Financial Agenti to |ộ: Tha Frovincial Government of Kwangtang

Head Office---Skrukwan, kwangthog Provizor,

· Hongkong Branch-Iznan's Bldg, & Chater Bd. Osble Address=“PROVINCIAL” 2629, 9445.

Telephones:**

20112, 20113; 20143, 20181, 91881. BRANCHES THROUGHOUT SOUTH CHINĂ Qorrespondedta in Yew York and London | Paid Up Capital ......" N$10,000,000.

Capital ... N$10,500,000..

Reserve

AUTANG MANLY,

Hooykong Manager.

A Job?

WANT