1940-02-26 — Page 9

HONGKONG DAILY--PRESS

HONGKONG SHARE QUOTATIONS

STOCK, EXCHANGE

Buyer Sellers

SHAREBROK RF ASSOCIATION

FEB.

Bajor Baller

SATURDAY 24.|| Nominal

1468

01455

£28

£90

Banke:

H.K. Banky

Do. (Col. Bag)

Do (Loa. Mag.).

Chartered Banku ..... £31 Mercantile Kka. “AZ 218 Marcantile Bis, 105 $78 Bank of Bars Asia ... X. C. & &. Baska'.......

*Insurances

81456

£18

63

£31

| 613-J $79 160 ats

€225

$480

$180

Canton Insurnaces ... Union InsurANOEM ... Underwritor

MA

$290

$475

im 90 ota

8185

$188

H.K. Pires gais

$135

Shipping

$100

**:*::

NEW

Donglades

$100

$10

Steamboats

mak

$10

$100 Indo-Chin

(Prot.)

$80

Indo-Chinas (Dqf}.....

$100 $120

-79/1† Shells

78/9

Waterboate

$7.40

Docks, Wharves,

"Godowns, sta.

#101 H.K. K. Wharvo

$101

43/80

Provident

$4.80

[Providanim (DOW)

#231

..Do, (new)

***

***

H.K. & W. Dooks... #234

#441 Bhanghai Dooks &

19/

New Enginewings 1.

Kallana

Mining

$10 Raubenjam

***

$10

$4′′. | Venezzela Gold Tida | #3}

3 ota, Hong Kong Kinas ...

Lands, Hotels and

Buildingo

23/93

I gi

80/4.83

#34

iiii

$38

$30

85.70 13238

H.K. Hotels.....

H.. Lands

$100 Do. 4% Debonkurs

$18.00 Bhanghai Landa U

H.K. Zaalties .....................

આ $7.70

$7.70

$101

Chinese Estates

Humphraye

Cotton Mils

$391 Ew. (8.)

OUTDO

#170 5'hal Cottons (1) ...

!11!

35.85 $51 #381

$5.70

38/38

$4.70

$44 Zoong Sings (8.)

**

$46

Wing On Tartins (8.) Public Utilities

$100

$17.70

$17.70

Tramwaya

#171

$17.80

Pook Trame (ald) ...

น

Peak Trame (NOW) ...

$644

Biar Farrie

$54

$26

#261

I'mati Ferris

$261

Do. (new)

#81

China Lights (0)

$8.20

18:10

$3.15

$68 $70

321

11

Sandakan Lights.....

$30

$31.20 29/301;

Telephones (cbd)

9301

$10

(9.70/10.30

Talaphones (new)

$10

19/6

Tractions

+44

19/9

Tractions (pest.)

Chins Lights (New)

$5.20

China Lights Rt.

62-87-70-69-68 H.K. Blacks....... | #68).

Macao Mootorita anm

68/70

!!!!!!!

Industrials

$16.90 Cald., Macg, (Ord.) B.

$12

19.30/1/194

$1.

|Cald., Macg. (Pref.) 8.

Canton Ins

Comple

$8.10 Bop

Miscellaneous

10g/as

19/-

100%

$7.70

$30

$179 $44

123 11

10/10/26

22,-

8191

יו.

FINANCE

Finance and Commerce

Improvement In Quality:

China's Tea Trade Policy

-DECREASE IN. QUANTITY AND IMPROVEMENT IN QUALITY WILL BE THE KEYNOTE OF CHINA'S POLICY OF TEA TRADE WITH FOREIGN COUNTRIES IN THE CURRENT YEAR, declared Dr. Kinn-wel Shaw, General Manager of the China National Tea Corporation, a government concern with exclusive control over the country's tea industry, in an interview with the Central News today.

Dr. Shaw, who recently arrived į To boost the Chinese tea trade in the colony from Chungking to abroad, Dr. Shaw stated, the consult local business circles on Chins National Tea Corporation the export of Chinese tea to has established branch offices in Europe and America, will return to the wartime capital tomorrow (Sunday).

DECREASE IN ORDERS

London and New York

NEW CENTRES

YANGTZE RIVER NAVIGATION

Latest Japanese Monopoly Plan

CHUNGKING, Fäb. 24 (Cent- rab)—Designed for the mon- opoly of river navigation ̧ÓN the lower Tanrise, the Jap- anese organized China. Steam- ship Company was formally inaugurated in Shanghal re- cently, according to a report from Shanghai

MONDAY, FEBRUARY 26, 1940. —-PAGE 9 FUNCTIONS OF JOINT SINO BANKING OFFICE

ARE EXPLAINED ·

The present high degree of co-ordination, and, co-operation In the regulation of currency and archange and the financing of commercial, industrial and mining enterprises · In wartime China is due to a considerable extent, to the Joint Administra tion Office of the Chinese Government Bank, of which Genera- tissime Chiang Kai-shek the chairman.

Government

On September 8, 1939, the National

pro- mulgated a set of regulations govering the wartime national financial structure. The four government banks, namely, the Central Bank of China, Bank of China, Bank of Communica- tions and Farmers Bank of China were "to form a joint ad- ministration orice with a view to conducting all kinds of bank- ing business relative to the wartime financial policy of the National Government."

||

The

THE DUTIES duties "of the Jont Administration Office, according

The board of directors of the vious month must be made before Joint Administration Office has a the tenth day of each month, Referring to the tea production,

chairman and three executive The adoption of this policy, Dr. Japanese occupation of the tea-consist mainly of cash investment Chiang chairman, "and Dr. H. to its organic law, are as follows:

Dr. Shaw disclosed that with the

directors. The National Govern- The assets of the new Company

ment. Shaw explained, is nécessitated by producing districts in the coastal by the "Reformed Government of Kung, governor of the Central appointed Generalissimo the difficulty in transportation, provinces, new tea-producing cen-Nanking and private Japanese Bank of China, Mr. T. V. Soong, among the possibility of over-production tres have been established in Sze-shipping concerns, as well as the chairman of the board of direc-banks; and the decrease in orders from chwan. Yunnan, Kweichow, Bikong, wharf and godown properties of tors of the Bank of China, and abroad owing to the war in and Kwangst, where cultivation of the China Steamship Navigation Mr. Chien Tung-ming, chairman of the financial network through- Europe.

the product is

The planning and distribution progressing Company which have been forcibly of the board of directors of the out the country:

He said that China's tea expore smoothly. to foreign countries this year is He said that ten produced m expected to be reduced from 1-war-affected provinces Including 000,000 cases to 800,000 cases, and Cheklang. Anhwei, Hunan Hupeh, the product will be carefully grad- Klangst and Fukien can still find ed before being shipped abroad,

their way out to foreign marketa. Soviet Russia, Dr. Shaw reveal- ed, is the principal buyer of Chi- nese tea, consuming chiefly, green, black and brick tea. Africa, especially Morocco, ranks second, while Great Britain and the United States stand third and fourth respectively.

Besides

D.

IMPORTANT MARKETS

these countries. Shaw sald, Chinese tea also finds important markets in Singapore, Saigon, Manila, and other' South Seas cftles where the overseas Chinese are the chief consumers.

H.K. STOCK EXCHANGE

In spite of the short session, a good turnover was recorded at in- proved

prices, principally in Trams $18 Lands $39 Tele- phones (Old) $31 Telphones (New) $11 and Cements @ $192.

BUYERS

HK. Bank, $1455. Canton Ins. $225, Douglases, $100..... Wharves, $101. Docks, $231," Providents, 1.80

Lands. $387.

Humphreys, $7.70.

Realties. $44.

Tramways, $17,90.

Dairy Farm (Old) ...

Dairy Farm (New)

$21.40

#14

Ch. Bizmario man

$7:40

€21.59

#7)

14

Constructiona (old)

$1.88

81

Construction

(Tara)

#7) Lane Crawforda

$8

[Nanyang Tobacco ....

831

81.80 Bincares

$2

Star Ferries, $641.

$9.00

203

Watsons

$9.40

891

Yaumati Ferries, $25.

STOOL

355)

30%. Ch. 0.5% 1925G $84.

$41. H.K. Wing On

181

14/8

4/-"

31

B'bal Wing On ...... Vibro Filing

Margmans Inv. (Lon.)

Maramans Inv. (H.K.)

Wm. Powell *Balm

to Khanghai

*

China Lights (Old), $81..

R.K. Gort, 4% Loans

H.K. Gori. #1% Lona

***

100%

China Lights (New), $5.10.

90%

$41

Macao Electrics, $21.

810

89.10

Sandakan Lights, $31. Telephones (Old), $31.40. Telephones (New), $10 Cements $19.60. ..Ropes, $6,"

Dairy Farms (Old), $22.85.

Dairy Farms (New), 3217.,,

Watsons, $8,

Entertainments, $74.

SELLERS

Electrics, $70.

Watsons, $9.80.

LATVIAN TRADE MISSION LONDON, Feb. 24 (BWS)"}," Discussions on Anglo-Latian trade in war conditions are expected to begin early next week between the British Government and a dele- gation from Latvia who arrived in London this week,

The adjustment of note-issue the four government.

The centralization and utiliza tion of capital funds;

The inspection of note reserves of the four government bank;

The issue of and application for

The Joint extension of loans to and discounts; on its

taken over by the Japanese. Bank of Communications, execu-

Informed quarters reveal that tive directors. the nature of the new arm is The chairman with the 'assis similar to that of the Central tance of the three executive China Railway Company and directors, has general charge of central China Electric Communica-all banking affairs. The Ministry subsidiary notes; tions Corporation, which is to jot Finance has authorized the control and monopolize the entire Joint. "Administration Office communications system in the take the necessary steps lower Yangtze valley.

The approval of remittances to behalf and on behalf of the four and from the inferior and port government banks to cope with cities: Anancial conditions in time of war.

LOW FIGURE

the

govern-

The approval of applications for foreign exchange by importers: wartime productive enterprises;

The joint investment in special-

sources m war time;.

The adjustment of material re-

As is with the case of properties of the Kiangsu, Anhwei and Chekiang telegraph adminis- ment banks continue to perform

Meanwhile, the four tons, the properties of the China separately their respective func- Steam Navigation Company were tions and develop their banking The delegation is headed by M. estimated by the Japanese at the business as specifically provided Charles Zarine, the Latlan low Agure of $2,000,000, at which in their banking charters. Minister in London.

they were taken over.

Every day, the Joint ministration Office and head offices of the

To direct other proper "joint government banks, all located inactivities of the four banks; and Chungking, are required to submit!

In China'

In 1939

U.S. Leads Foreign Trade

The United States occupied first place in China's exports and second place in her imports during 1939,

Ad-

The collection and exchange of gold and silver;

The promotion of special say. the wigs deposit business; four

The auditing, of the budgetary

#

to the Ministry of Finance for estimates and actual settlement official examination, a report onuf receipts and disbursements of receipts and disbursements, the four banks. amount of note issue and interest Under the chainmanship of rate In the money market A Generalissimo Chiang, the Joint monthly statement of assets and Administration Office has pro~~ llabilities at the end of the pre-ceeded to put into effect various important measures regarding China's wartime currency and economy. Among those already in 109,124. Yarn, thread, plaited and force during its first period of knitted goods 92,082 Piece goods aktivities are the promotion of 57.245, Candles oils 53,521, Fuel luans and discounts, the establish- 31.767. Other textile fibres 31,394, ment of financial networks, the Tea 30,385, General sundry list vestment Imports (In N.C. 3'000):-Cereals

1 special wartime. not include the value of commodi- and flour 223,657, Cotton and

58.228.

productive enterprises. ties shipped abroad on barter manufactories

By occupying a large part of thereof

The Joint Administration Office 181,098, China's coastal areas; Japan was has also accomplished much in agreements, such as wood off to Candles soap, olls, fats, America and tea to Russia. If the gums, resins 109.274, Chemicals plying N.C. $313,398,000 worth of domestic remittances, and

waxes, able to lead other nations in sup- encouraging exports, facilitating overseas Chinese remittances and and pharmaceuticals 75,939, Metals goods to the people in the pene-stablikation of commodity prices. the contributions to their homeland-Ores 73,067, Machinery toolstrated territory. The United States It has Nkewise achieved con-

According to the figures just released by the Chinese Mari- time Customs, Chins during the first ten months of 1939 record- ed an adverse trade balance, while in November and December of the same year she managed to export more than she imported. The total amount of imports during 1939 reached N.C. $1,333,653,896, whereas her exports totalled N.C. $1,027,246,508 during the same period.

The export figures, however, do

which amounted to at least $800.- 61,123, Books, Maps, paper, wood takes second place in exporting siderable success in centralizing 000,000 in 1939-are taken into pulp 60,762, Vehicles and vessels NC. $214,100,000 to China in 1939, capital funds and in fostering consideration, China's interna- 45,780, Sugar 52,643, General sun- tional payments actually showed dry list 71,440.

Hongkong, which usually oc- special savings deposits so that cupies first place in China's ex-more money will be available for $'000 ports, is second to the United wartime productive purposes and products States in importing commodities that the wholesome habit of thrift A table of imports and exports 188,436, Textile Abres 173,366, Ores, from China during last year during 1939 follows:-

be cultivated among the people: (CIC)

a handsome favourable balance last year.

Exports (ka N.C. Animals and aritmal

metals, and

metallic products (CIC)

LONDON STOCK EXCHANGE

(REUTER'S SERVICE)

FEB. 25, 1940.

The following quotations are the middia prices at the close of the market in London. All quotations are subject to confirmation and no responsibility is assumed for errors In transmission.

War Loan, 31% (Red

after 1952)

(bearer)

19

SALES

6/0

1/6

Providents, $4.85.

-15

Hotela, $5.70.

Lands, $39.

141 27

Chosen Corporation Pekin Syndicate....... S'hal Elec.. Constr. Co. S'hai Waterworks "A" Union Insurance" Gula" Kalumpong Rubber, 21/10 Allied Ironfounders

14

38/1+

Tramways, $18. Electrics, $884/683.. Sandakan Lights, $31/31. Telephones (New), $11/11, Cements $19.60.

Ropes, $8.

HX. Govt 4% Loan, 1004.

MANILA GOLD SHARES Antoks 18 b. Antamok, 15 b. Bagulo Gold 22. b, Batong Buhay 013's, Big Wedge 201 s, Coco Grove 134 8. Con Mines 0035 s, Demon- stration 12 b, East Mindanao 104 s, East Mindanao 36 s. EXL. 104 b. Ipo Gold 27 s, Itogon Min: 013 b,

SHOE CO.LTD.

HONGKONG SUPPLIES ALL

KINDS OF "

FOOTWEAR

Masbate Con, 10, b, Mind, Mother- THE MOST RELIABLE

lode 10 b. Mine Operation 10 b,LIQUID INSECTICIDE North Camarines,, 09 b, Faracale Gummaus 22 b, San Mauricio 81 s, Burigao Con, 178, Buyoc Con. 138, Syndicate Inv. 024 b, United Para- cale 281 b, Benguet Cor. 5.65 b

HONGKONG

Asso & Elec. Industries

41/6

Austin Motors, ord.

16/9

69-1/16

Canton-Kloon Rly 5%

16

Cable & Wireless, New

Form, ord.

641

Chinese 41% Gold Loan

B.-A. Tob. (bearer)

102/6

1898 (Brit. Ise)

60

Mexican Eagle

121

Chinese 5% Gold Bonds,

Cammell Laird, ord.

8/6

1925-47

50

Mexican Eagle

6/41

Chin. 41% Anglo-French-

Courtaulds

Loan, -1908

50

Distillers

Chinese 5% Crisp Loan.

Dunlop Rubber

69/3 33/101

1912

30

Ger. Electric (England)"

81/6

Chinese $% Reorg, Loan,

1913. (Ldn. 18.)

Guinness (A) Bòn & Co.

74/3

40

Hawker Siddeley Airc....

Chinese "8% Ster. Notes,

1925 (Vickers).

Bristol Aeroplane

12

Imperial Chemical Ind.

Chin. "Imperial Rly, 5%

Imperial Tobacco

14/74 1579 32/10) 122/6

Loan

$5

Marks & Spicer "A" ord.

53/44

Honan Rly, 5%

16

Rolls Royce

Hukuang Rly. 5%, 1911...

10

Leyland Motors

Hukuang Rly. 5%, 1911

Tate Lyle

(German Issue).

17

Turner & Newall .......................

Lung Tsing & U. Hal

United Steel

Rly. 5% 1013

14

S'hal-N'King Rly. 5%

20

Smethwick Drop Forg.... Armstrong Stevens, ord.

87/14 72/6 55th 66/6 24/13 15

Tientsin-Puków. Rly, 5%

Pressed Steel, com

(Brit. Stpd.)

16

Vickers, ord.

Woolworths

16

Anglo-Dutch

16/104 21/3 (65/3-

28/3

A.B. Watson Cements

500 9.60

10019.50

250 19.75

Rub, Plant. Invest. Trust 34/3 Burina Corporation

China' Lights (Old)..." 500

9/3

China Providents ......

Commonwealth⠀⠀⠀ Mining

HK. Electrics

8.30 500 4,00 200 60,00

Marmman Investments Randfontein Estates

14/9

HK Hotels

55)

Western Holdings

34/41 13/3

HK Tramways

7

Sub-Nigel

· 186/3

Tanami Gold. Mining Anglo-Iranian.

ed.

Burmah

55/7 70

HR Telephones (0.)... H.K. Telephones (N.)..

Shell Trand & Trad.

Yaumati Ferries

(bearer)

78/11

Ropes...

Nominal

Tientsin-Pukow Rly, 5%

(German Stpd.) Tientsin-Pukow Rły, 5%

(Brit. Stpd. Supi. Loan) 18 Tientsin-Pukow Rly, 5%

(Ger. Stpd, Bupl, Ican) 18 Jap, 5% Ster. Loan, 1907 | 52 Jep. 6% Bter. Loan, 1924 Ger, 7% Intl.. Loan, 1924 Chartered Bank.....

HK. Ghal Bank (Ldı.

Reg.).

H.K. & Shal Bank (Col.

Neg)

Chinese Bag Mining

SHAREBROKERS'

ASSOCIATION

Volume Of Business Transsctod

on Saturday, Feb. 24, 1940

Itogons

1,500 5.70 800.5,80 500 17.90 500 18.00

800 31.00 500 10:80

500. 11.00

100... 27,00

1,000

8.00

10,000.

157

GEE, IT'S SWELL

• NOT. TO BE BAY BOTHERED WITH FLIES: WHILE WE KAT!

1'SPRAYED WITH › ̈FLY-TOK, LOSg

ST DEFORD

DEMAND THE GENUINE

FLY TOX

Obtainable at all leading Drug and Department Stores Sale Distributors UNITED TRADERS HỒNG 1.0NG

•Hongkong Daily Press CLASSIFIED ADVERTISEMENTS

Jimmy's

UTTERICK_LADIES TAILOR

Winter Sale

Ready made Overcoat and Dresses made to order. No. 18 Wyndham. St. Tel 23615.

Flower Bulbs

Gladioli and Begonia

direct from

Holland

obtainable at

GRACA & Co. Dealers in Garden Seeds. Postage Stamps, Picture Books etc., etc.

No. 10. Wyndham Street...

Hong Kong. Established 1896.

YOU CAN NOW EAT:

MARBLE HALL

(and Annexe Frivate 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,.

HOTELS

RUSSIAN FOOD COOKED IN THE

RUSSIAN WAY

TABLE D'HOTE $1.00 ALSO A LA CARTE AT THE

METROPOLE

HOTEL

1940 ZENITH

NEW MODELS Just arrived NO AERIAL, NO GROUND, Just plug in and play CHUEN YEE

454. Der Voeux Road. C.

ENGRAVERS

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

HONG

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*DAILY

5 TO 7.30-P.M. MUSIC BY THE METROPOLE SWING BAND

Telephone 24311.

"AUCTIONEERS

FORTASJON BARGAINS IN TOWN

LAMMEET -