1940-03-26 — Page 10

37-1/8

36-3/8

35-1/8

The market was quiet but steady: LONDON RUBBER

Previous close Today's close

Buyers *Buyers

11-1/4

11-1/4-

11-5/16

11-1/4.

11-3/16

11-1/8

18.15/15 1800b/05a

18.45b/50a 18.44b/50a 18.41b/43a 18.42b/500 18.45/45 18.12b/22a 18.17/17

18.02b/12a

17.88 B

PAGE 10-HONGKONG DAILY PRESS

FINANCE

FOREIGN MARKETS & QUOTATIONS

BENEFITS OF MIXED LABOUR

"It is

Our

bounder duty as planters to see that the supply of essential commodities. such tea and rubber are maintained without interruption by labour it is with grave troubles, and concern that we learn of such troubles Up country," said Mr. S F. H. Perera in his Presidential

address at the annual meeting of

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING HONGKONG

COMMODITY MARKET REVIEW

(FROM PAYNE & CO.)

the Southern Provice Planters SINGAPORK RUDBER

Association held at Galle

Mr.

Perera Was

re-elected SPOT Chairman for the fourth year in APRIL-JUNE succession."

JULY-SEPT.

Moving the adoption of the re port for the year he said that it was futile to lay the whole blame on political adventurers or agita tors who try to gain their ends by creating chaos, or a genuine labour leader who tries to work the in the best interests of labourers to ameliorate their con- dition.

"Unless there is room for disaf- fection and unrest among labour an outsider cannot get hold of a contented labour force. I would appeal to planters Up-country to put their house in order and re- move the causes of disaffection and unrest," he continued.

CHLANGE OF TRADITIONS

"This would involve a change of established traditions th the management of labour and also an increase in the cost of produc- tion.

"I am sure proprietors will not grudge at the present moment an cost in production increased which they should consider in a sense their

contribution to the war in order to see that essential commodities are supplied in suf- felent quantities and regularly.

"I steps are not taken to re-

SPOT APRIL MYA Y JUNE JULY-SEPT. OCT,-DEC."

NEW YORK, MARCH 23. Previous March 23

Closing Opening Closing "Change Buyers Buyers

NEW YORK COTTON: Market closed,

NEW YORK RUBBER: Domestic consumption during the first quarter is estimated at 155,000 tons, only slightly below the record of 158,500 tons in the final 1939 quarter.

A leading ex- still inadequate

CHICAGO WHEAT: The market is easier on its and there is no pronounced pressure or liquidation,

LS pert stresses that moisture in the South-West despite forecast of continued light rains over this week-end.

NEW YORK STOCKS: Previous close, 148.73; Today's close. 146.73: Change, unchanged.

NEW YORK COMMODITY MARKET....

(REUTER'S SERVICE)

New York Cutton, May New York Rubber, May Chicago Wheat, May Chicago Corn, May New York Hides, June

medy matters absentee propric-NEW YORK COTTON

Frey. Today's

Close Close Change

10.59 closed 18,41b 18.45 ".04

High Low

18.45

18.45

1057

105

105

561 58+

501

13.85

13.75

13.77

Close

Opening

Closing

10.59/59

10.37/37

comparison to what will happen July" (New contract)... 10.51 N-

tors should realise that the pre- May

sent trouble will be nothing in July

when the South-West monsoon October

December

flush. and if

January

starts in May and the tea bushes are covered with there are no cooltes the crop will Spot be of the lowest.

..

11

9.90/90

}

9.77/77

9.72 N

18.84 N

CLOSED

1054 1. off ..581

...off 13.76b .01 off

Change

First notice day for cotton:-1/5/40 and last day 22/5/40

"The present trouble Up coun- | NEW YORK RUBBER

to

try

also due

the March

fact that the labour force there May....

is

Indian mostly

Immigrant July labour whereas in our Province. September where the force is a mixed one of

December Statalese and Indians there has absolutely been no trouble so far.

"I hope before long that plan- ters Up-country will also realise the benefits or having a mixed labour force."

Total sales-60 tons. Last trading day:-27/3/40. CHICAGO WHEAT

May July.

September

1051/1051

1037/1031

1021/1024

קט 18,

NEW YORK STOCK EXCHANGE

STOCKS

Adams Express Alleghany Steel Co. Allied Stores ....... Allis Chalmers ...... Aluminium Ltd.

Case, JI................................... Celanese

Consolidated Edison Consolidated Of continental Can" Continental Off

QUOTATION

(KEUTER'S SERVICE)

Elec, Bond & Share ......................

1051/1051 . of 1038/1031 t off 1024/1021

Gen. Railway Signal

Gen. Tire & Rubber

Glidden Co.

Goodrich (B.F)

1051/1051

1032/103

#

ts

MARCH 24, 1940. STOCKS

National Lead

Last Sale

Mar. 23

Last Sale Mar. 23

7**

211*

77"

Libbey-Owens-Ford Lockheed Aircraft Loew's Inc. ........

Glass 501

31+

38

381

Loft Incorperated

33

104

Mack Truck Inc.

· Amer. Can ... American Cyanamid B. Amer, & Foreign. Fower Amer & Foreign $7 pf. American Gas & Elec. Amer. Locomotive .... Amer, Metals Co.

114)

Martin, Glen L

38

McKesson & Robbin's, pfd.

27

117

Monsante Chemical

111

22

Montgomery Ward

533

34%

|National Aviation

141

20*

Nat Dairy Products

171

247

Nat, Distillers

251

Amer. Radiator

BI

National Gypsum

101*

Market closed

Amer. Rolling Mill

144

211

Amer. Sting and Ring Co.

491

Nat, Power & Light

72

G. Miskia, Esq.,

K. Morrison, Esq.,

Amer. Sugar Refining

191

National Steel Corp.

654*

Amer. Tel,

Tel

1711

National Supply Corp.

T. E. Pearce, Esq.,"

81

C. C. Roberts, Esq....

TUESDAY, MARCH 26, 1940.

BANKS

HONGKONG & SHÀNG HAI THẾ CHARTERED BANK OF

INDIA, AUSTRALIA

AND CHINA

Issued & Fully Paid-Up 820,000,000 Incorporated by Royal Charter, 183

BANKING CORPORATION

Authorised Capital....... $50,000,000

Reserve Funds:

Sterling

Reserve Liability of

Proprietors......

Paid Up Capital £6,500,000 Reserva Fund

.....£3,000,000 ...£3,000,000

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

prietors.

$90,000,000

Head Office:-HONG KONG

Board of Directors: · H. V. Wilkinson, Esq.,

Chairman. Hon. Mr. J. J. Paterson,

Deputy Chairman.

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

£3,000,001 HEAD OFFICE; LONDON:

38, Bishopsgate E.0.3 Sub-Agencies In London: 117/12, Leadenhall Street, E.0.3. West End Branch:

14/16, Cockspur Street, S.W.1. Manchester Branch: 52, Mosley Street, Manchester,.

AGENCIES AND, BRANCHES:

ALOR STAR AMRITSAR BANQIDI

BATAVIA BOMBAY

HARDIN

PENANG EONG KONG BANGGON ILOILO ІРОД

SAIGON

BEREMBAN

Amer. Tobacco "B"

891

New York Central

151

Hon. Mr. A. L. Shields,

CALCUTTA

KARACHI KLANG

<HANGHAL

SINGAPORE

Change

Amer. Waterworks

91

Niagara Hudson Power

5

Anaconda Copper

23

N. American Aviation

24+

Sir Vandeleur M. Grayburn,

AGENCIES: KOSE

BITIAWAN

CLITE STREE

Atchison, T. & 8, Te.

217.

North American Co.

21

Chief Manager. Fa Pict

KUALA

SOU RABATA

CANTON

LUMPUR

Market closed

Auburn Motora

14

Northern Paciâc

74

Branches:

CAWNPORE

Baltimore & Ohio

4.

Owens-Illinois Glass Co....

627

СЕВГ

Barber Asphalt Co..

141*

Pacific Gas & Elec

334

Amoy

Johore Rangoon

KUCHING

MADRAB MANILA

TAIPING

TIENTSIN

TONGKAH

COLOMBO

(Bhuket)

Barnsdall Ol

10%

Pacific Lighting

473

Bangkok

Koba

Saigon

DELHI

MEDAN

TSINGTAO.

Batavia

Kowloon Sar

Bendix. Aviation

34

Packard Motors

31

HAIPHONG

NEW YORK

YOKOHAMA

Bombay

Kuala

Bethlehem Steel

Bliss Co.

Boeing Airplane Co.

Borg-Warner

own weight Bridgeport Brass Corp.

Briggs Mfg......

Brooklyn-M'hattan Trans. Brooklyn-Manhattan $6.....

Canadian Pacific Rway-

Chesapeake & Ohio Chrysler Corpn.

Climax-Molybdenum Co. Colts Patent Fire-Arms- Columbia Gas & Elec. Columbla 6% "A" pf. Commercial Credit Co. Com, & Southern (Ord.)

up

Copperweld Steel

Corn Products

Curtiss Wright (C)

Curtiss Wright "A"

Deere & Co

Distillers Corpn. Seagrams

Douglas Aircraft

Du Pont de Nemours

Eagle Picher Leag

Eaton Mfg. Co.

Elec, Autolite

.01

up..

Eles. Bond & Share $5 pf. 594-

.04 up

Mec. Bond & Share $6 pf.

.02 up

Mec. Power & Light $7 pí.

16.06b/10a

Fisk Rubberwoonge

17.90" B

.04" up

Flintkote

Gen, American Trana.......

Gen. Electric

Gen. Motors .......

anch:

Goodrich $5 pf.

May

July

of

وا

to June people September

Thursday's sales:-31.704,000 bushels.

KWANGSI TAXATION CHICAGO CORN

KWEILIN March 25 (Intl)- September

in an epoch-making decree. Gen- WINNIPEG WHEAT Huang

Hsu-chu.

the Kwangsi Provincial Govern- May ment, has required tha, all taxes July

in all counties be reduced by one! half.

This sweeping

measure reduce the burden of the

during the present war of tadce.

Goodyear Tire & Co.

Great Northern Iron Ore ..

561/502

561/563

564/551

off

Great Northern Rly, pfd.

5717571

571/573

of Great Western Sugar .....

$84,581

58/58

off Greyhound Corpa,

Hercules Powder Co,

Homestake Mining

893/891 892/90

October

9028 921B

891b .00/501 *..92}A

» c

International Harvester

of

Int Nickel

unch

Int. Tel. & Tel

NEW YORK HIDES

Johns-Manville

13.77/77 14.03/03

13.75/75 14.00b/04a

resis New York, Official..... 34-3/4

NY-London Cross Rate 3.72

13.76b/78a 14.02/02 Closed 3,71

01 on .01 off

J. & Laughlin Steel 57 pfd.

Kennecott Copper

Lakey Foundry & Mac.

..

"

1939/40

High Law Dow Jones Averages

155.92 131 41 30 Industrials

35 00 24.14 20 Rafs

27.70 20.70 20 Utilities

*92.99. 8451 40 Bonds

י

REDUCTION

Chairman

War Insurance Helps Reconstruction In China

During the two and a half years since its inauguration, the war insurance department of the Central Trust has collected approximately 120,000.000 in premiums on transportation risks alone, according to Mr. Wang Yi-hsuan, deputy director of the organization in Chungking. Since last November, the Central Trast has also been writing land war insurance for all investors and producers in. Free China. Thus far more than $30,000,000 worth or properly at-land-war risk has been underwritten by the Institution with premiums totalling $400,000.

Shortly after the outbreak of

the war, the Chinese Government,

in its effort to encourage produc-

collected, the authorities con- sider the service a successful OMG,

tion and to promote reconstruction. In writing land war insurance.

interests.

DYEING FACTORY IN CHUNGKING

(Cen.

CHUNGKING, March 25 tra)-A dyeing factory, capita- lized a $1,000,000, will be set up industrialists by several Chinese

in the outskirts of Chungking.

The new factory, scheduled to start operations this autumn, 'will have an initial production capa-

city of 100 tons. "of dyestuffs a day.

The

Construction of the plant is aiready proceeding space, Ministry of Economics will

it a subsidy of $500,000,

Patani Swałow Haiphong (Johore) Tientsia Bankow

Tokyo Mukden Barbia New York Tsingtao,

Peiping

Yokohama

Accounts opened in

HANKOW

(Peking)

FOREIGN EXCHANGE and General Hanking Business transacted.

CURRENT Accounts opened and FIXED DEPOSITS received for Ons Year or shorter periods in Local or Other Currencies, at rates which will be quoted on application."

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

LOCAL CURRENCY and FIXED DEPOSITS

The Bank's Head Office in London received for one year or thortar periods in Local and other Cur-undertakes Executor and Trustva cancies on terms which will be business, and claims recovery of British Income Tax overpaid, on quoted on application.

ALSO up to date Sare DEPOSIT terms which may be ascertained at

any of the Agencies and Branches. Box in various sizes To Ler

R. A. CAMIDGE, Hong Kong, 28th February, 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 HosGIONO & SHANGHAI BANKING CORPORATION.

V. M. GRAYBURN,

Chief Manager.

BANK OF EAST ASIA, LIMITED

Authorised Capital.....$10,000,000.00 Paid-Up Capital 5,598,800.00 Reserve and Undivided

Prost

2,883,932.01

Board of Directors:

Bir Shouse Chow, Chairman. -

Wong Tan Tong, Esq.

Li Lan Sang, Bay,

Wong Chu Son, Esq. Kan Ying Po, Bag,

Chan Ching Shok, wi, Fung Plug Wah lag

Kan Tong Po, Beq., Chief Manager. Li T Fong, Esq., Manager.

Branches and Agencies 2—

Bingapore Bourb

Salgina Malbouzas "áca Fran» Sydney

also intein Yagnaka New York Battle

Bear Shanghai

Palping

THE CHASE BANK

18, QUEEN'S ROAD, CENTRAL HEAD OFFICE:

18, PINE STREET,

NEW YORK.

An American Bank offering com- plete Foreign Banking Bervice in the principal Markets of the world.

Interest Rates on Application.

SAFE DEPOSIT BOXES

This Bank is entirely owned by CHASE NATIONAL BANK, THI NEW YORK, with Besouros of ove U.S.$3,000,000,000.

D. M. BIGGAR,

Second Vice Pres

BANK OF CHINA"

Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AB AN INTERNATIONAL EXCHANGE

BANK

PAID-UP CAPITAL $40,000,000.00 (BRANCHES ALL OVER CHINA)... Owing to our numerous Branebes in China and connections in the principal Commercial Centres of the World, we are able to extend a our Clients special facilities' for Domestic and Foreign Banking and Exchange.

Head Oface:-SHANGHAI Hong Kong Branch:

4, QUEEN'S £OAD, C. South China Offices:

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

Current Accounts opened in Local CANTON Currency and Fixed Depositare SWATOW ceived for one year or shorter SHIUCHOW periods in Local and Foreign Cur rencies on terms which will be quoted on application. 105 off 88.83. .15 off SATE DEPOSIT BOXES TO LET.

and Abroad. KAN TONG PO

Chief Manager. Business Done-390,000 shares

48 up .09 off

INDO-CHINA

STEAM NAVIGATION COMPANY LTD.

grant Operating Berrices for Cargo and Passengers

Export groups to co-ordinate

In the rear, ordered the Ministry which also includes air-raid risks, activities have already been set up of Finance to write insurance the Central Trust is extending in nineteen industries including against undue losses for all land another valuable service to China's such varied export commodities as transportation

The reconstruction Many investors and metal windows, electrical machin- ministry, in turn, entrusted this

property owners have already ery, wool, hostery, Jewellery, paint important task to the Central protected themselves against war and varnish, toys and fancy goods, Trust, a subsidiary organ. This risks in different parts of the and pottery--(BW8). step of the government has im-country. These polley holders also mediately won popularity among include number of

a "all shipping concerns, and, today owners who came to "Szechwan very few import and export trade Province from the coast. to or from Free China is not in- sured with the Central Trust,"

Although losses to the Cen-: tral Trust during the period sincethe,

the inception of the system late in 1937 have been" about equal to the premiums

factory

raw materials Climited to those in The scope of the land war the possession of the underwritten. insurances. 11.

factories);

to

(1) stored commodities (limited (3) building materials (limited agricultural, Industrial and to those in the warehouses or in mining products and goods having the possession of the contractors avalua in international trade); and engineers during construc-,

(2) productive instruments and tion-(CIC).

TO

SWATOW, SHANGHAI, TSINGTAU, CHEYOO.

and TIENTSIN

KOBE and OSAKA,

BINGAPORE, PENANG and CALCUTTA

BANDAKAN

HAIPHONG

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

For further particulars

please apply to

JARDINE MATHESON COT

TELEPHONE SOSIL GENERAL MAN

ERS

KONGMOON TOISHAN

KINGCHOW

We also handle the issue of Bonds and other Public Funds of the Chimes Government both at Home

BHOU J.. CHEN,

Manager.

.*}

THE KWANGTUNG PROVINCIAL

BANK

(Ineneperited in "hiza)

Gessera Basking Paolilled sad Pinancial Agentä se Dis The Provianej Onverament of Ewengtang Head Ooshiakwan, Kwingtung Province Rongtang Boop-Queen's Bldg., & Chuter Bd. Cable Address!PROVINCIAL” 1990, SAL

ww Telephones; ' 20112, 20113, 20143, 20181, 31681 BRANCHES THROUGHOUT. SOUTH CHINA Corrispondral to New York and London Paid Up Capital ...... N$10,000,000. N$10,500,000.

Reserve Capitaj

AUYANG MNLY,

Hongkong Manager.

A Job?

INVM

743

Pan-American Airways

214

Francisco HAMBURG

PLIPING

Calcutta Lumpur Shanghai

141

Paramount Pictures

7+

Canton

London

Singapore

22

Pennsylvania RR.

211

Che foo

Lyons

Sourabaya

221

Phelps-Dodge

361

Colombo

Malacca

Sungei

101

Phillips Petroleum

381

Dairen

Manila

201

Pittsburg Coke & Iron

74*

Foochow

Muar

22

Publia Bervice of N.J.

42

901*

Pullman Inc.

251

41

51

Pure Oil

81

Vinilo

674*

Radio Corpn. of Am

61

Ipoh

Penang

30

Reading Company,

Com

15"

391

Reading Company, 1st pid

25*

CURRENT

851

Remington Arms Co., Inc.

39

Republic Aviation Corp.

51

762

Republic Steel

20

51

Revere Cop. & Brass Inc.

12:

851*

Reynold Tobac. "E"

414

457

Richfeld ON

7

1

Safeway Stores ....

501

301

Schenley Distillers

13+

71

Sears Roebuck

86

47

Shell Union O

104

221

Socony-Vacunum Ofi

114

161

Southern Pacific

12+

591

Southern Rly 35 pfá.

25

101

*Sperry

421

29

Spleer Manufacturing Co.

.341

211

Standard Brands

61

191

Stand Gas & Elec.

11

821

Standard Oil of California

227

188)

Standard Oll of N.J.

431

111

Stone & Webster

91

321"

Studebaker Com

11

381

Swift International

291

Hong Kong, 5th Feb., 1839.

Technicolor

154

Texas Corpo.

451

681

Texes Gulf Sulphur

331

28*

Timken-Axle

24

15

Trans-America Co.

6

191

20th Cent. Fox

521

20th Cent. Fox, $li pt.

381

Union Carbide & Carbon

54"

Unlon Pacific

951

161*

United Aircraft

474

20

United Airlines Trans

20

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

181*

United Corpn.

181

United Corpn. $3 eum pf. 39"

641*

United Gas Corpn.

11

22

United Gas Improvement

131

13

U.S., Industrual Alcohol.

214

Li Koon Chan, Esq.

"P. K. Kwok, Esq.

24.

US. Rubber

33+

271*

U.S. Rubber $8 pfd..

1147*

181

US. Steel

551

95

Vanadium

33*

50

Vultee Aircraft

54

Walworth Co.

54

35

Warner Bros. Pict.

31

Katarin

Kokoon

London

langoon

4

Westinghouse Elec.

1111

والمالية.

691*

Woodward Tron Cor.

242

57*

Chase National Bank

331**

351

National City Bank

231*

sialphong Henko Monolain Kobe

4.

*-bid.

-ex diỡ

DOW JONES AVERAGE

Mar. 21, 148.73

30.19.

24,20 89.78

Mar 24, 1940, High Low Cires 147.00 146.49 148.73

30,16 30.03 30.10, 94.31 24.18 24.24

Chanee

65.87 45.59 11 Commodity Index 69.58