1940-02-23 — Page 10

Bank Bills, on demand 94 **B Credits, 60 days' sight 51 1/16

On Batavia:--

On demand

...... 48 1/a

The market was quiet... LONDON RUBBER

Previous close Today's close

Buyers

Buyers

On Paris:-

Bank Bills, en demand. 085

Credits 4 months' sight |140 -

SPOT

13-1/8

12-7/8

PAGE 10-HONGKONG DAILY PRESS

FINANCE

FOREIGN MARKETS & QUOTATIONS

MONEY AND EXCHANGE

CLOSING QUOTATIONS

FEBRUARY 22: 1940 On London:-

Telegraphic Transfer. 13-16 Bant Bills, on demand 1/2 13 1 Credits 4 months' sight 13 IN On Shanghai:-

On demand On Singapore;-

On "demand

On demand

On Japan:-

On India:-

8 8 8 8 8 8 8

*

343

..... 52 1/2

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING HONGKONG

COMMODITY MARKET REVIEW"

(FROM PAYNE & CO.)

:03 1/9

SINGAPORE RUBBER

Telegraphic Transfer.Las 1/7 and demand On New York:

ЗРОТ APRIL-JUNE

JULY-SEPT.

j

NEW YORK STOCK EXCHANGE

QUOTATION

(REUTERA SERVICE).

STOCKS

FEB. 22, 1940

STOCKA

Last Bale

Feb 21

Last Sale Feb. 21

Sterling

Adams Express

71

Alleghany Steel Co.

Allied Stores

8

Hennecott Copper Lakey Foundry & Mac, Libbey-Owens-Ford

FRIDAY, FEBRUARY 23, 1940.

BANKS

HONGKONG & SHANGHAI THE CHARTERED BANK OF

BANKING CORPORATION

Authorised Capitala... 850,000,000

INDIA, AKALIA

AND CHINA

Issued & Fully Paid-Up 390,000,000 Incorporated by Royal Charter, 1883 Reserve Funds:

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

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

£3,000,000

£3,000,000

41

Reserve Liability of

prietors...

£3,000,00

Glass 504.

Proprietors...

$90,000,000

HEAD OFFICE: LONDON: 7

Allis Chalmers

37

Lockheed Aircraft

30+

Head Office:-HONG KONG

Aluminilum Ltd

95*

Loew's Inc.

361

Amer. Can.....

116

Mack Truck Inc.

25

American Cyanamid B.

37

Martin, Glen L.

401

of 1/8

NEW YORK, FEBRUARY 21, 1940. Previous February 21 Closing Opening Closing Change American Gas & Elec........ Buyers Buyers

38-1/8 off 3/8Amer, Metals Co. 38-1/2 38-1/8 36-3/8 31 36-1/4 of 1/ 34-7/8 34-1/2 34-3/4

Amer.. Foreign Power

1

McKesson & Robbins, pfd. 241*

Amer & Foreign $7 pl.....

2511

Monsanto Chemical

109

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

E. V. Wilkinson, Esq.,"

*341*.

Montgomery Ward

531

Amer. Locomotive

.19

National Aviation

124

247

Nat. Dairy Products

17+

Amer. Radiator

Nat Distillers

25

J. K. Bousfeld, Esq., A. H. Compton, Esq., Hon. Mr. 8. H. Dodwell,

Amer. Rolling M

15

National Gypsum

111

D. F. Landale, Esq.,

Amer. Sting and Ring Co.

501

National Lead .......

207

G. Miskiu, Esq,

Amer, Sugar Refining ....

223

Nat Power & Light .......................

TI

K. S. Morrison, Eaq..

Amer. Tel, & Tel......

172

National Steel Corp.

18

Hon. Mr. T. E. Pearce,

Change

Amer, Tobacco "B"

901

National Supply Corp.

81

C. C. Roberts, Esq.,.

of 1/4

Amer. Waterworks..........

10

New York Central

16)

APRIL

12-1/2

12-3/8

off 1/8

Anaconda Copper

301

Niagara Hudson Power

51

Sir Fandeleur M. Grayburn,

Chief Manager.

On Saigon:-

MAY

12-1/18

11-7/8

off 3/18

Atchison, T. & S. Fe.......

23

N. American Aviation

241

Chairman.

Deputy Chairman.

38, Bishopsgate E.CLS. Sub-Agencles" in London: 117/18 Leadenhall Street, E.C.a West End Branch: 14/16, Cockapur Street, S.W.L. Manchester Branch: 52, Mosley Street, Manchester, 2

AGENCIES AND BRANCHES:

BARBIN PENANG BONG KONG RANGOON ILOILO

ALOB STAR

AMRITSAR BANGKOK

| BATAVIA "

BOMBAY

CALCUTTA

+ IPOH

AGRECTEN: TOBE

OLITE STEEZ KUALA Faith PACK CANTUN

SAIGON

可

Un demand

16 1/4

JULY-SEPT.

On Manila: "

OCT.-DEC,

11-3/16 11

11-3/16. 10-15/16

unch.

Auburn Motors

17

North American Co. ens

22

Branches:

off 1/16

Baltimore & Ohio

51

Northern Pacific

8+

Anuo:

Ipoh

On demand

48 7/8

On Bangkok:-)

On demand

151 1/4

On Sterling Notes:-

Bank Buying Rate

1/31/16

Bar Silver per oz.......... 20 3/8

FROM ROZA BROS.

at

Close .....11.04/05 10.77/77

10.36/36

10:50 N

9.73/73

9.61/61

{ }

"9.57 N

Spot

11:19 N

| NEW YORK RUBBER. Some business was arranged at March 355, 355.1/2. The market closed a:

May

July

September December

18.75/78

Market Report

After ruling quiet, the market eased on outside liquidation and Jack of interest.

NEW YORK COTTON: There has been further Bombay selling and scattered March liquidation. The mills continue the curtall- ment of textile production, Spots were quiet

The scarcity of near shipment offer- NEW YORK RUBBER: ings from the Bast has a steadying influence,

CHICAGO WHEAT:

Recent snows are reported to have been Silver prices dropped yesterday inadequate to protect against subsequent sub-zero temperatures and to the extent of 1/4 for Ready the substained continental demand for U.S. wheat reflects poor crop Brooklyn Manhattan $8. 794 and -3/18 for Forward, the quota-prospects both in Europe and Argentine. The Administration's in tions being 20,3/8 and 20.7/16 res- tention to secure "parity" prices for agricultural products is a long pecavely. Sliver advices reported range price-substaining factor. The parity prices for wheat is $1.13. the ma ket as being quiet with"

NEW YORK STOCKS: Previous close, 14865; Today's close,

very poor suppor. Americari Silver 148.34: Change, of 31. was quoted at 34.3/4 for Spot,

The London New York cross- rate was quoted at 402.1/2. New -York/Lunden was quoted at 395. 7/8.

Market

Appeared" i'm at the opening time bu; eased off to a lower bus!- ness level at which it remained steady all day."

Sterling

NEW YORK COMMODITY MARKET

(REUTER'S SERVICE)

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

Could have been obtained 1/2.29/32 at the opening, buyers bidding 1/2.15/16 for Cash, result- ing in some business at 1/2.29/32 May July and 1/2. tor Cash and Feb uary

July (New contract) 7/8 July. The market closed at 1

October (..) December pm, wih sellers at 1/2.7/8 Feb- ruary/June, buyers at 1/2.29/32)

January Cash and 1/27/8 July. US. Dollars

Sellers at 248/16 Cash/February and 24.1/2 March, buyers at 24.5/8 Cash and 24.9/16 March.

Shanghai Dollars

Canadian Pacific Rway Case, JI

Celanese

Barber Asphalt Co.

142

Owens-Illinois Glass Co.

62

Bangkok Johore

Barnsdall, Oil"......

Bendix Aviation

Bethlehem Steel

Bliss & Co.

Boeing Airplane Cb,

Borg-Warner...

Bridgeport Brass Corp. Briggs Mfg.

Brooklyn-M'hattan Trans.

Chesapeake & Ohio Chrysler Corpn.:

Climax-Molybdenum Co. Colts Patent Fire-Arms... Columbia Gas & Elec...r Columbia 6% “A” pl.

Commercial Credit Co.

Low

Prev. Today's High

Close Close Change 11.05 11.01 11.04 11,03 .01. of 18.78 03 up 18.75 18.82 18.68 1061 1041 104 1054 14 up

574 571 571

up 571 1421N 14.11b 10 off 14.28 14:11

Com, & Southern (Ord.)

Consolidated Edison.....

Consolidated Off Continental Can

Continental Of

Copperweld Steel

Core Products

Opening

Closing

Change

Curtiss Wright (C)

11.04/05

11.03/04

01 off

Curtiss Wright "A"

10.77/77

10.77/77

"

urich

Deere & Co.

10.36/36

10.36/36

Distillers Corpn. Seagrams

10.52/52

10.51 N

01 up

Douglas Aircraft

9.72/72

9.71/71

.02 off

Du Pont de Nemcitrs

9.60/60

9.80/60

.01 off

Eagle Picher Lead

9.57/57

9.57 N

unch.

Eaton Mfg. Co.

11.18 N

.01 off

Elec, Autolite

.Total sales Tuesday's 49,000 bales.

First Notice Day for March Cotton-27/2-Last Notice Day-15/3 Elec. Bond & Share $8 pr.

Rec. Bond & Share

Elec. Bond & Share $5 pf.

Elec. Power & "Eight $7 pt.

Fisk Rubber

18.68/70

18.33/34

May July

September

The market closed with sellers at 1/27/8 February/June, buyers at 1/2.29/32 Cash and 1/27/8 July. U.S. Dollars

and 24.9/16 first half March.

Shanghai Dollars

1 p.m. with sellers at 254.1/2, buyers bidding 355 1/2.

Shanghat Market

Bellers for Spot at the openin were quo'ed at 4.3/16 and 6.29/32. Later the rate dropped to 4.5732 and at the close sellers were again quoted at 43/16 and 6.29/32.

AFTERNOON MARKET The market was quiet in the afternoon.

Sterling

Total sales:-1,420 tons.

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

Tuesday's sales:-35,141,000 bushels. CHICAGO CORN

May July September Sellers a 24.9/16 Cash and 24. WINNIPEG WHEAT 1/2 March, buyere at 24.6/8 Cash May....

Goodrich (BF)

18.14/14

16.27/27 18.04b/14a

17.86 B

17.87/87

17.70 N

18.78/78 13.33b/358 18.09b/12à 17.87b/88a 17.68/68

.03. up

unch.

Flintkote

Gén. American Trans.

.05 off

Gen. Electric .......

,01 up

Gen. Motor ...

.02 OF

Gen. Railway Signal

Gen. Tire & Rubber

Glidden Co.

Goodrich $5 pr.

104/1044 1021/1022

1041/1044 1031/1034

1024/1024

"105+/1054 1032/1031 1031/1031

13 up Goodyear Tire & Co.

11 up

Great Northern Iron Ore".

11 up

Great Northern Rly, pfd,

Great Western Sugar

Greyhound Corpn.

Hercules Powder Co.

571/571 571/57

57+/571

671/571 571/571

up unch.

Homestaxe Mining

International Harvester

581/581

· 581/58)

* up

Int Nictél...

Int Tel. & Tel

89/89

89/89

891 B

upJohns-Manville

July October

90/901 911/911

902/90

917/92

·up up

J. & Laughita Steel $7 bid.

Sellers at 353.1/2.

Shanghai Market

Sterling 43/16 sellers for Spot March

and UB. Dollars 6.29/32.

Shanghai Exchange

Shanghal, Feb. 22 (Reuter).

Official TWE Rates

NEW YORK HIDES

14.21 N

14.22/23

14.11b/15a

June September

14.50/51

14.57/55

14.41/41

14.81/81

14.85/84

14.72/72

.10 off .09 .09 off

1939

156.99 121:41 Industrial

26.90 24.14 20 "Bala

37.70 20.70 40Utilis

New York, Official

0/4

6-9/16

27-7/8

22-1/8

204 -26-3/4

34-3/4

34-3/4 3.98-1/4

2.2 84.51 42 Bonds

London

New York

Japan

India

Paris

Hongkong

Sollera Opening Closing Spot.

0/4-3/16 0/4-3/16 Feb. 0/4-11/84 0/4-3/18 Mar. 0/4-1/8 0/4-9/64 U.S. Dollars

$8-29/32

Spot

Feb,

****** 6-7/8"

Mar.......

6-25/32

Market: Quiet.

$6-29/32

-16-20/52

8-13/18

Merchant Hates" Sterling. 0/4-5/32" -

US Dollars, $8-13/16.

Silver Duty Rain

The Central Bank of China's rate on London at 10 am

was 1/2-1/26.

today

The Equalisation rate was 7 per cent.

India Rupee Paper

Bombay, Feb. 21 (Ruter), Clovt 34 Rupes) 31-4-9.

Calcatta Exchange

Calcutta, Feb 21 (Reuter). T... on Japan, 80-

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

NY-London Cross Rate 3.95-1/4

SILVER MARKET RESERVE BANK OF

LONDON BILVER

London, Feb, 21 (Reuter). Silver Market quiet, General seling Poor support; business small. In the afternoon the mar- ket quietly steady, Bpot, 20-3/86.

Forward, 20-7/16d.

NEW YORK SILVER

New York, Feb 21 (Reuter). Silver. Oncial, 34-3/4

BOMBAY SILVER

Bombay, Feb, 21 (Ruter)."

Market Steady. Offiake 75 bars.

Indian Mlat Silver P

Ready

56-07

Mar 4 Settlement

55-02

55-06

Apr, 3.Settlement

LONDON GOLD

London, Feb, 21(Reuter). Bar Gold, Fine" per oz., 168.

New York

Exchange

INDIA STATEMENT

Calcutta, Feb. 21 (Reuter)."" Feb. 7. Feb 14 Notes in circulation

(including

Notea held in the Bank-

Ing Department)... 25,246 25,486 Rupee Coln and Bul-

"lion in India Gold Coin and Bul-

5,919

5,260

lion in India ... 4,154 Becurities British

4154

Government) ..... 3,835 3,835 Becurities (Indian

Government)

11.050 11:350

LONDON METALS

EXCHANGE London, Feb. 21 (Reuter). ouvers sellers *TIN

Standard, Cash 248-1/2 246-374 Standard

3 months 245-1/4 246-172 Feb 21 (Reuter). Standard Mun (Opening Rate). Set'ment Price 246-1/2

Straits

271-3/4

Hamburg (Johere) Tientsin

Tokyo New York Tsingtao Peiping. Yokohama

in

CURBENT ACCOUNT opened LOCAL CURRENCY and Fixed Deposits received for one year or shorter periods in Local and other Cur rencies on terms which, will be quoted.on application.

BANKOW

NEW YORK PRIPING

(Peking)

FOREIGN EXCHANGE and General Banking Business transacted,

CURRANT ACCOUNT opened and FIXED DEPOSITS received for One Year or shorter periods in Local or Other Carrencies 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.

The Bank's Head Office in London undertakes Executor and Trustee business, and claims recovery of. British Income Tax overpaid, on Also up to date BAFE DEPOSIT terms which may be ascertained at

any of the Agencies and Branches. Aotss in varions sizes To

R. A. CAMIDGE, Hong Kong. 11th January," 1940

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 HONGKONG & SHANGHAI BANKING CORPORATION.

V. M. GRAYBURN,

Chief Manager Hong Kong, 28th Feb., 1939.

BANK OF EAST ASIA, LIMITED

Authorised Capital.....$10,000,000.00 Paid-Up Capital ..........

5,598,800.00 Reserve and Undivided in

Profts.

2,583,232.01

Board of Directors:

Bir Shouson Chow, Chairmas

Li Lap Sang, Kaq,

Wong Chu Son, Esq. Wong fun Tong, Esq. Kan Ying l'o, Mag. Chau Ching shoz, 584. Fang Fing Wah Bay Kan Tony Po, Esq., Chief Manager. Li The Forg, Eaq, Mazagor.

Branches and dyencias im.

} Kingapore Penand Hangoon Kourabaya

Swatc Malhoogna Ban Fran- Sydney

civo Kaitán New York Beatifan Yangonver Park

Semarang Paling Shanghai

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

THE CHASE BANK

15, QUEEN'S ROAD, CENTRAL

HEAD OFFICE:

18, PINE STREET,

NEW YORK. An American Bank offering com

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

Application.

SAFE DEPOSIT BOXES

This Bank is entirely owned by NATIONAL BANK, THE CHASE New York, with Besources of oran US $2,000,000,000.0

D. M. BIGGAR,

Second Vice Pri

· BANK OF CHINA

Specially Chartered by

THE NATIONAL GOVERNMENT

OF CHINA AS AN AN INTERNATIONAL EXCHANGE

BANK

FAID-UP CAPITAL' $40,000,000.00 (BRANCHIS" ALL OVER CHINA) Owing to our numerous Branobes fan China cand connections in the principal Commercial Centres of the World, we are able to extend o our Clients special facilities for Domestic and Foreign Banking and Exchange.

̈ ̈Head Office:—SHANⱭHÁI

Hong Kong Branch:

4, QUEEN'S ROAD, C. South Chine Offices:

CANTON"

Current Accounts opened in Local Currency and Fixed Deposits - ceived for one year or shorter 8WATOW periods in Local and Foreign Car SHIUCHOW rencies on terms which will be quoted on application.

SATE DEPOSIT Boxes To Ir.

KAN TONG PO,

Chief Manager.

INDO-CHINA

STEAM NAVIGATION COMPANY LTD

Operating Services for Largo and Passengers

SWATOW, SHANGĦAL TSINGTAU, CHEFOO:

and TIENTSIN

KOBP and OSAKA

SINGAPORE, PENANG and CALCUTTA

BANDAKAN

HAIPHONG

All steamers berth alongside the Roosevelt-Terminal in the French Concession st Shanghai, where passengers and cargo sie land

For further parti

plocic

KONGMOON TOISHAN

KINGCHOW

We also handle the issue of Bonda and other Public Funds" of" the Chiness Government: both at Home and Abradinholu 5, PA V

BHOW J. CHEN,

Manager

THE KWANGTUNG PROVINCIAL * BANK (

(monoprint 4 inhina)

| General Banking Toastiskie mac, Kisanolal Agents de

The Provincial Government of Kwangiang~- Hand Offer Buah Whi, mwang tagy Province Hongkong Branch Qism's Hideyo Chaber Rd. Cable Addrmare"PROVINCIAL: 2009, MIRA

20112, 20118," 20143, 20181, 31881.

UT. BRANC

BOUTT Correspondenta in Paid Up Capital Beserte Capital

AUYANG" MINS

A Job

111

Pacific Gas & Elec

341

Batavia Kobe

Penang Rangoon Baigon

323

Pacific Lighting

471

Bombay Kowloon San

CAWNFORB CEBU COLOMBO. DELFI HAIPHONG HAMBURG

SEREMBAN

KARACHI KLANO

BEANORAL

SINGAPORE

BITLAWAN

BOURABAYA

LUMPUR

TAIPING

KUCHING

TIENTSIN

KADRAS

TONGKAH

MANILA

(Bhuket)

MELAN

TRINGTAO

YOKOHAMA

781

Calcutta

Kuala

Francisco

Packard Motors

-31

Canton Lumper Shanghai

151

Paramount Pictures

77

Chefoo

London Singapore

231

Pennsylvania R.R.

Colombo

Lyons

23+

Phelps-Dodge,

3011

Dairen Malacca

Sourabaya Bungei

111

Phillips Petroleum

391"

"Foochow Manila

Patani

211

Pittsburg Coke & Iron

7*

Haiphong Muar

Swatow

201

Public Service of NJ.

417

Pullman Inc.

2711

Bankow

Mukden

5

Pute Oll

84

Harbin

floilo

70

Radio, Corpn. of Am.

51

287

Reading Company,

Com

151

391

Reading Company. 1st pfd

251*

85)

Remington Arms Co., Inc.

381

Republic Aviation Corp.

791.

Republic Steel

*.

Ravere Cop. & Brass Inc.

131

89

Reynold Tobac...... “B”

414

461

Richfield O

71

11

Safeway Stores

492

32

Schenley Distillers

12)

71.

Bears Roebuck

837

471

Shell Union ou

111

241

Socony-Vacunum Of

111

154

Southern Pacific

137

*641

Southern Rly $5 pfd.

29

101

Sperry

442

291

Sples Manufacturing Co. 321

211

Standard Brands.

7

19

Stand Gas & Mec.'

14*

821

Standard Oll of California

24

183

Standard Of of NJ.

44

104*

Stone & Webster

10

311

Studebaker Com..

121

38+

Swift. International

313*

7

Technicolor

15

571*

Texas Corpn.

·441"

60F

Texes Gulf Sulphu

341

30

Timken-Axle ........

221

151

Trans-America Co.

51

161

20th Cent. FUL

12

55

20th Cent. Fox. $1į pt. .....

237*

381

Union Carbide & Carbon

84)

54

Union Pacifte

011

17**

United Aircraft

477

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

21

United Airlines Trans

157

18.

United Corpn.

2

191

United Corpn. $3 cum pf.

418

641*

United Gas Corpn.......

1

Ei Koos Ubna, Bếp

2411

United Gas Improvement

14

P. K. Kwok, Enjo

13

US. Industrual Alcohol

211

23

U.S. Rubber

371

281.

US. Rubber 38 pid.

1130

161

U.S. SteelTM

58

893

Vanadium

33+

34

Walworth Co.

51

TAMOT

Ko-vio

..661

Warner Bros. Pict.

31

Batavia

Leptua

Bontby

Kanils

37

Westinghouse Elec.

1134

Calcatta

37

Woodward "Tron "Cor.

241

Haiphong

Hatiku

704

Chase National Bank

35"

olmin

Lobe,

014

National City Bank

291*

bid.

div.

DOW JONES AVERAGE

Hiab Low Dow Jones Averages Feb. 20,

148.88

31 06 2:00

80 31

85 6745,60 11 Commodity Index 54.8I

"Feb. 22, 1940, :

·High Low Close -14264. 148 09-14931 31.30 30.78 30.81 25.10 8.96 25.05 .80.11 60.07 Business Done--780,000 shares

ChanRO 31 of 25 of .05.up. .10 0

se up