Buyers
Buyers
36-T/B
Bank Bils, on demand 19 1/S Credits, 60 days sight 20 1/2
38 cts.
37 cta. 38-1/4 36-1/8 35-1/2 ̄34-1/2 ̄ ̄ ̄ ̄ ̄34-5/8-34 cts. ̈00 1/2
PAGE 10-HONGKONG DAILY PRESS
FOREIGN MARKETS AND QUOTATIONS
MONEY AND
EXCHANGE
CLOSING QUOTATIONS MAY, 29, 1940.
On London:
Telegraphic Transfer. 1/1,7/8" Bank Bills, on demand 1/9 7/8 Gredits 4 months sight 1/33/1
On Shanghai:—
On demand
On Singapore:-m
-561:342
On demand 53 3/4
PAYNE &
& CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING HONGKONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
On Japan:-
On demand
32 1/4
Un India:-
Telegraphic Transfer.
New York, May 28, 1940,
SINGAPORE RUBBER
and demand ..................
82 1/2
On New York:-
SPOT
JULY-SEPT.
OCT.-DEC.
Previous May 28
Closing. Opening "Closing Change
FINANCE.
NEW YORK STOCK EXCHANGE
Alleghany Steel Co.
Allled Stores
Allis Chalmer's
QUOTATION (REUTER'S SERVICK)
MAY 10, 1940. STOCKS
Last Sale
MAY, 29, 1940. STOCKS....
May 28
Adams Express Jungin
4
J. & Laughlin Steel $7 pid.
Last: Sale
May 23
50
BANKING CORPORATION
18
Kennecott Copper.....
29
Authorised Capital... $30,000,000
47
Lakey Foundry & Mac.
24
Libbey-Owens-Ford
Glass
23 327
Reserve Funds:
Aluminium Ltd.
55
Lockheed Aircraft
Sterling
291
Amer. Can
907
Loew's Inc. .....
American Cyanamid.B.
301
Reserve Liability of
Loft Incorperated
174
Proprietors
$90,000,000
Amer. Foreign Fower ... Amer & Foreign $7 pl. ...
Mack Truck Inc.
19.
12
Martin, Glen L...
334
Head Office:-HONG KONG »
American Gas & Elec.
26+
McKesson & Robbins, pfd.
19
Amer, Locomotive
11
Monsanto Chemical
891
Amer. Metala Co.
18.
Montgomery Ward
344
Board of Directora: H. V. Wilkinson, Esq.
Amer. Radiator
51
| National Aviation
Chairman.
101
Amer. Rolling Mill
104
| Nat, Dalty Products
Hon. Mr. J. J. Paterson,
121
of 5/8 off 1/2"
Amer. B'ting and Riing Co.
35
Nat, Distillers"
19
Amer, Sugar Reaning
131.
National Gypsum
51
-Amer. Tel, & Tel...
1471
National Lend
141
Amer. Tobacco "B"
744
Nat, Power & Light
6
On Batavia:—
On demand
On Paris:-
+
36 1/2
After ruling steady, the market eased on outside liquidation and Closed uncertain,
Amer. Waterworks
67
National Steel Corp.
G., Miskin, "Esq.,
50
KS. Morrison, Esq.,
Anaconda Copper
211
National Supply Corp.
5
T. E. Pearce, Esq.,
Bank Bills, on demand 1000
Credits 4 months' sight (150
On Manila:
On Saigon:-
On demand
On demand
On Bangkok:-
On demand
On Sterling Notes:-
Bar Silver per os.
LONDON RUBBER
SPOT
108 3/4
JUNE
JULY-SEPT,
39
OCT.-DEC,
JAN.-MARCH
149 1/2
"
Previous close Today's close
Atchison, T. & 8. Fe.
141
New York Central
C. C. Roberts, Esq.,
buyers
buyers"
Change
Auburn Motors
Niagara Hudson Power
Hon. Mr. A. L Shield,
11-5/8
11-9/16
-off 1/16
Aviation Corp.
52
N. American Aviation
171
11-9716
11-9/18
unch.
Bacock & Wilcox .....
191
North American Co.
151
.... 11-1/2
11-7/16
off 1/16
Baldwin Lecometive
132
Northern Partic
51
11-1/4 10-15/16
11-1/8
off 1/8
Baltimore & Ohio
31
Owens-linols. Glass Co.
45
THURSDAY, MAY 30, 1940.
BANKS
HONGKONG & SHANGHAI THE CHARTERED BANK OP
INDIA, AUSTRALIA AND CHINA
Issued & Fully Paid-Up 890,000,000 Incorporated by Royal Charter, 1853
Paid-Up_Capital” £6,500,000 Reserve Fund
£3,000,000 ..........£3,000,000
.....£3,000,000
H.K. Currency Reserve $10,000,000 Reserve Liability of Pro-
Deputy Chairman, J. K. Bousfield, Esq.. A. H. Compton, Esq., Hon Mr. S. H. Dodwell,
Sir Vandeleur M. Grayburn,
Chief Manager.
HEAD OFFICE: LONDON:
38, Bishopagate E.0.2 Sub-Agencies In London: 117/189, Leadenhall Street, E.03. West End Branch:
14/18, Cockapur Street, S.W.L" Manchester Branch: 52, Mosley Street, Manchester, 1
AGENCIES AND BRANCHES:
ALOR STAR AMRITSAR
BANGKOK BATAVIA BOMBAY
CALGUITA
HARRIN
PENANG
FONG Tord Largoon ILOILO
AGENCIES: TOBR
CLITE STARKS KUALA FAIRLIK PLAGR CANTON
prietors
BAIGON
ПРОН KARACHI ΚΕΙΝΟ
11
SEREMBAN
SHANGHAI
SINGAPOR
BITIAWAN -
SCUBARATA
LUMPUR
TAIPING
10-7/8
off 1/16
Barber Asphalt Co.
91
Pacific Gas & Elec
201
Amoy
Branches: Johore
CAWNPORE
KUCHING
TIENTSIK
Bank Buying Rate 1/4
22
NEW YORK
July. (New contract)
October {
December (
"
+
Spot
Total sales-500 tons.
CHICAGO WHEAT ·
July
Opening
September December
Market Report
FROM ROZA, BROS. aver prices dropped 5/13 yes- both deliveries, the terday for quotations being 22 for Rendy and 21.1/2 for Forward, Silver advices as having reported - Speculators
sold to a small extent. Support was pocr. American Silver was quoted at 35.5/8 for Spot.
The London-New York cross- rate was quoted at 402.1/2 New York/London was quoted at 317,
3/4
MARKET
Extremely dull,
STERLING
After ruling uncertain the market became quietly steady. NEW YORK COTTON: Early selling on unfavourable war news met with Trade. buying on the scale down. Demand for Spots con- tinues to be good,
NEW YORK RUBBER: Prices dwindled on lack of interest. CHICAGO WHEAT: The steadying influence of the loan dis- courages selling. Weather reports generally are favourable.
NEW YORK STOCKS: Previous close, 118.35; Today's close 114.26: Change, off 209.
COMMODITY MARKET (REUTER'S SERVICE)
New York Cotton, July New York Rubber, July Chicago Wheat, Sept. Chicago Corn, Sept. New York Hides. June
NEW YORK COTTON
There were sellers at 1/2.31/32; May/December, buyers at 1/3 tor July "any delivery.
U. S. DOLLARS"
Nothing doing. There were selJanuary lers at 19.3/4 May and 19.11/16 March June, buyers at 19.7/8 for Cash 19. May 13/18 June.
SHANGHAI DOLLARS
Hellera at 361
Total sales Monday:-35,000 bales.
NEW YORK RUBBER
SHANGHAI MARKET Sterling opened at £1/8. Later May advices reported sellers at 40/64 July US. Dollars opened with sellers at 5.7/18 and subsequently it was steadier at 5.15/32 for Spot, Quiet.
Shanghai Exchanze"
Shanghai, May, 29 Reuter).
Official T.T. Rates
September December January
Barnsdall Ou
| Pacific Lighting
371
Bangkok Kobe
Bell Aircraft Corp.
17
Packard Motors
21
Batavis
Kowlags
Rangoon Saigon San
CEBU
KADBAR
COLOMBO DELHI
MANILA
TONGKAR
(Bhufet)
MEDIAN
TSINGTAO
Bendix Aviation Bethlehem Steel Bliss & Co.....
+
Boeing Airplane Co.... Borg-Warrier
Bridgeport Brass "Corp. Briggs Mig.
Brooklyn-M'hattan Trans.
Brooklyn-Manhattan $6....
Budd M'facturing Corp.
Canadian Papific 'way ...
Case, "JI.
Celanese
Chesapeake & Ohlo
High
9.60 9,19 19.34 18.25
83 7801 831 831
off 821 81 621 -62). 1 off 9.55 8.60 9.81b 9.50b 31 "off
Low Clase Close Change Prev. Today's "
9.62 9.56 .06 on 19.55 19.30 .25. oft
Chrysler Corpn,
Climax-Molybdenum Co.-
Colts Patent Fire-Arins
Columbia Gas & Elec. Columbia 6%. "A" pl. Commercial Credit Co.
Close
Opening
Closing
0.62/83
9.30/20
9.56/56
Change
.08 off
Com, & Southern (Ord.) Conselldated Edison Conscidated Oil Continental Can
Continental C
9.83 N
9.37b/503
9.76 N
.07 of
Copperweld Steel
}
8.91/91
8.43/45
8.74/74
.17 of
Corn" Products
8.81/81
8.40/36
8.84/64
.17 of
Curtiss Wright (C)
8.74 N
8.31b/34a
8,37 N
.17 of
Curtis Wright "A"
3
8.63/63
8.25/28
8.44/44
.19 of
Deere & Co.
}
8.49/49
8.14/14
8.31/31
13 off
Distillers Corpn. Seagrams
10.48 N
10.39 N
09 ot
Douglas Aircraft
Du Pont de Nemours
Eagle Picher Lead
Eaton Mig. Co.
20.40 N
19.55/58
18.38/40
18.00/00
17.90 N
20.25/25 18.95b/19.10 19.30/34 17.70b/18.00a 18.10/10. 17.50b/75a 17.60 N
17.75 A
21 off
Elec. Autolite
25 off
Elec. Bond & Share
28 off
Elec. Bond & Share $$ pf.
.40 off
Elec. "Bond & Share $8 pt.
17.50 N
40 off
Elec. Power & Light $7 pf.
Fisk Rubber
Flintkote
Gen. American Trans. ...........
Gen. Electric
84/811
837/84
821/81 31/81
844/841
834/831 831/83) 84/841
off
Gen. Motors
off
Gen. 'Railway Signal ....
off
Gen. Tire & Rubber
London
New York
Japan
0/3-7/8
Monday's sales:-9,278,000 bushels.
Glidden Co.'
5-1/8
CHICAGO CORN
Goodrich (B.F.)
21-7/8
Goodrich $5 pt.
India
21-1/2
July
631/631
611/811
531/631
Goodyear Tire & Co.
Paris
Hongkong
2.84 25-3/4
September
821/621 61/61
621/621
À 'off
Great Northern Iron Ore
December
591a
591/591
'Great Northern Riy, pfd,
Great Western Sugar
Sterling
WINNIPEG WHEAT
Greyhound Corpn.
Sellers
Opening
Closing
Spat
0/4-1/8
0/4-9/14
May July
May
0/4-1/8
0/4-9/64
October
733b 747/747 7712
721/721
1 off
Hercules Powder Co.
72/711
731/731 761/761
1
off
"Homestake Mining
11 of
International Harvester
Int Nickel ......
June
0/3-31/32 0/3-83/84
NEW YORK HIDES
U.S. Dollars
June
Spot
$5-7/16
$5-1/2
September
9.81b/87# 10.06/10
·9,00/8:80
May June
5-7/16
5-1/2
December
10.34 N
9.15/50 9.60/57
5-3/18
5-1/4
New York Official
35-3/8
NY-London Cross Rate.3.19-3/8
9.50b/600 .31 of 9.74/74 .32 of 9.95b/10.00a .39 off 35-5/8 3.17-3/4
Inter. Paper & Power Int. Tel. & Tel Johns-Manville
Market:-Quiet...
Silver Duty Rate
The Central Bank of China's rate on London at 10 am today was 1/2-1/2d.
The Equalisation rate was 161 per cent.
India Rupee Paper
Bombay, May 28 (Reuter). Govt. 31% Rupee, 89-02-0.
Calcutta Exchange.
Calcutta, May 28 (Reuter). T.T. on Japan, 100.
SILVER MARKET
LONDON SILVER
London, May 28 (Reuter).
speculative sel- Silver.-Little
SPECIAL
DEFENCE
TAX IN U.S.
WASHINGTON. May 29 (Reuter)
NEW PAPER MILL "IN YUNNAN " KUNMING, May 29 (Central)———- -The Administration and Con- A new paper mill will be establish- gressional leaders have agreed toed in Yunnan on June 1. raise. $3,000,000,000 in new taxes Capitalised at $800,000, the mill during the next five years to de- will first manufacture, newsprint. costs of national de-It is expected that the output will be one ton a day after August;
rray the febce.
High
1939/40
DOW JONES AVERAGE
*
Low Dow Jones Averages, May. 27, High Low Close Change
156.99 11394 20 Industrials
35.90 2216 20- Rails
27.70 18.25 20 Utilities
3222 83.10 40 "Bonds
118.35 23.39
18 91 83.69
85,67 45.59 11 Commodity Index 69.95
**May 28, 1940,
114.76 110.81 114.28, 2.09 off 22.56 22.25 2289 .50 off 18.48 17.99 18.31 .60 off
83.06
.83 off 62.24
1 off
Business Done :-1,280,000 shares
Francisco HAIPHONG
Haiphong (Johore) Tientsin
Mukden Tokyo
Tsingtao Yokobama
HAMBURG HANKOW
NEW YORK
. PRIPINO
(Peking)
FOREIGN EXCHANGE and General Banking Business trausaęted.
CURRENT Accoum opened and FIXED DEPOSITE received for One Year or shorter periods in Losal or Other Currencies at rates, which...... will be quoted on application.
SAVINGS Accounts also opened in Local Currency and Sterling, with CURRENT ACCOUNT opened in interest allowed at rates obtainable LOCAL CURRENCY and Fixxp Deroon application.
received for one year or shorter The Bank's Head Office in London periods in Local and other Cur
rencies on terms which will be une takes Executor and Trustee business, and claims recovery of quoted on application.
British Income Tax overpaid, on terms which may be ascertained at any of the Agencies and Branches.
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 HoxaKoNG & SHANGHAI BANKING CORPORATION.
V. M. GRAYBURN,'
Chief Manager. Hong Kong. 25th Feb., 1939.
www.***
Board of Directors:
SIA SHOUSON Chow, Chairman Li Koon Chim, Esq. Li Lan Sang, Esq. |F. K. Kwok, Esq. Wong Chu Son, Esq,
Wong Tan Tony, Esq. Kan Ling Yo, Mag. Chan Ching Shok, Kaq, Fang Ping Wah Esq KAN TONG Po, Esa., Chief Manager Li Tax Foxo, Esq., Manager
Batavia
Branches" and Ågêncies;• -
Dalphang
Kovicom Penang London Hangoon
Manīta Wa Salgem
Singapura Bourabaya Bestow
Malbourne Bax Fran- Sydney
case Hentzin
Hew York Seattle * CuTer Paris
"Palping Shanghind
Every description of Banking and Exchange business transacted. Losar] granted on approved securities.
Current Accounts opened in Local Currency and Fixed Deposits ceived for one year or shorter periods in Local and Foreign Cur масте on terms which will be quoted on application.
SAFE DEPOSIT Boxes To LET.
KAN TONG PO,
Chief Manager.
INDO-CHINA
President Roosevelt has ratified All machinery of the mill is made STEAM NAVIGATION COMPANY LTD
a plan which provides for the in China. Immediate financing of defence by the sale of special national de- fence obligations 'valued at $9.000 -- 000,000,
LONDON STOCK·
EXCHANGE
Additional taxes, amounting to
Reuter) LONDON, May 29 between $600,000,000 and ST00,-
In the Stock Exchange, following 000,000 will be levied annually and the Belgian news, quotations the proceeds used to retire the
widened and were made purely During the morning ling. Poor, support, Business very national defence, obligations and inominal,
trading was a matter for negotia- small. Market uncertain. In the to pay interest on them.
tion, but subsequently dealings in stnall parcels of securities were made easter.
afternoon, the market was quietly
steady. 1
Spot, 224.
Forward. 2114.
BOMBAY SILVER
'Bombay, May 28 (Reuter).
Market Steady. Oftake 400 bars
Ready
Indian Mint Silver"
June 3 Settlement July 2 Settlement
LONDON METALS
·EXCHANGE
London, May 28 (Reuter)..
TIN
£
buyers sellers
矣
€3-09 03-08
Standard, Cash 288 Standard,
288-1/2
63-13
3 months 265-1/4 285-1/2
Gilt-edged securities recovered from the day's lowest levels while Egyptian bonds improved. Wall Street was weak
LONDON GOLD
London, May 28. (Reuter).
Bar Gold, Fine per oz. 188,~
Operating. Services for Cargo and Passengers
TO
SWATOW, SHANGHAL, TSINGTAU, CHEFOO
and TIENTSIN
KOBE and OSAKA
SINGAPORE, PENANG and CALCUTTA
SANDAKAN
HAIPHONG
All steamers berth alongside the Boosevelt Terminal in the French Concession st Shanghai, where passengers and cargo are landed.
For further particulars
please apply to
JARDINE MATHESON&Co.,LTD. TELEPHONE 303II • GENERAL MANAGERS A
THE CHASE BANK
"..
15, QUEEN'S ROAD, CENTRAL
HEAD OFFICE:
18, PINE STREET,
NEW YORK. An American Bank offering comin- plete Foreign Banking Service in the principal, Markets of the world.
Interest Rates on Application.
SAFE DEPOSIT BOXES
This Bank is entirely owned by THE CHASE NATIONAL BANK, New Yoan, with Resources of erst 1.B.$2,500,000,000.
D. M. BIGGAR,
Bond Fios Pras
BANK OF CHINA
Specially Chartered by
THE NATIONAL GOVERNMENT
OF CHINA AS ANG - INTERNATIONAL EXCHANGE,
BANK
PAID-UP CAPITAL $40,000,000.00 (BRANCHES ALL Ovre China) Owing to our numerous Branches in China and connections in the principal Commercial Centres of lihe 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
HIUCHOW
KONGMOON TOISHAN KINGCHOW
We also handle the issue of Bonds
and other Public Funds of the Chinese Government both at Home and Abroad.
SHOU J. CHEN,
Manager.
THE, KWANGTUNG PROVINCIAL
BANK
(Incorporated in China)
General Banking Facilities and Finanolal Agents Lo Tim Provincial Government of Kwangtang Head Office--Shiukwaa, Kwangiang Province Hongkong Branch-Queen's Bldg., & Obster Xa. Cable Addresses-"PROVINCIAĽ” “2859, 9443. Telephones: 20112, 20113, 20143, 20181, 81881,
· BRANCHES THROUGHOUT ̧
SOUTH CHINA SE Correspondente in- How York and London
Paid Up Capital ...... N$10,000,000. Reserve Capital N$10,500,000.
AUYANG MANLY,
Hongkong Manager.
A Job?
WANT ADS
27
Pan-American Airways
131
Bombay
Kuila
TOKOHAMA
681
Paramount Pictures
41
Calcutta
Lumpur Bhanghai
144
Pennsylvania R.R.
17+
Canton
London
15% 1.
Phelps-Dodge
$80
Chefoo
Lyons
Singapore Bourabaya
Colombe
16
Philadelphis Read, Coal
+
Malacca Sungai
Dairen
Manila
Phillips Petroleum
281
Foochow
Muar
Patani Swatow
-143
Pittsburg Coke & Iron ...
·5་་
183
Public Service of NJ.....
321
Bankow
104
Pullman Inc.
181
Barbin
Now York
31
Pure Oil
TA
[loilo
Peiping
21
Radio Corpn. of Am.
Ipoh
Penang
44
Reading Compány,
Com
10
221.
Remington Arms Co., Inc.
41
321
Republic Aviation Corp.
5
57.
Republic Steel
15
,231
Revere Cop. & Brass Inc. ..
9.
70
Reynold Tobac. "B"
35
42
Richfield Oil
61
671
Safeway Stores
37
317%.
Schenley Distillers
8
Also up to date Sari Dapor Boxes in various sizes. To LET. Hong Kong. 28th February, 1940,
Sears Roebuck
844
-25
Shell Union Off
81
$
Sócony-Vacunum Oil....7
351
Southern Pacific
72.
181
Southern Rly $5 pfd.
15
171
Sperry
37...
444
Epicer Manufacturing Co. 22
8
Standard Brands
54
23
Stand Gas & Elec.
1
141
Standard Oil of California
18
13+
Standard Oil of N.J. ......
311
78+
Stone & Webster
57
1507
Studebaker" Com.
71
Swift International
18
251
Technicolor
93
27"
Texas. Corpn.
35
#1
་
Texes Gulf Sulphur
201
444*
Timken-Axle
19
+
BANK OF EAST ASIA, LIMITED
57
Trans-America Co.
"48
204
20th Cent. Fox.
54
10
20th Cent. Fox, $13 pr......
134*
Authorised Capital.....$10,000,000.00 Paid-Up Capital
5,598,000,00
114
Union Bag & Paper Corp.
10
Reserve and Undivided
Profits
...2,083,207.30
317
Union Carbide & Carbon
63.
291
Union Pacific
76
39
United Aircraft
43)
Head Office:-HONG KONG No. 10 Des Voeux Road, Central.
10
United Airlines Trans
137
111
United Corpo
14
12
United Corpn. $3 cum pf.
283.
11
United Gas Corp.
1
45
United Gas Improvement
102
141
U.8, Industrial Alcohol ...
15..
12}
U.S. Rubber
174
173
US. Rubber. $8 pfd.
12
204
U.S. Steel.
451
91
Vanadium
29
78)
Vultee Aircraft'
404
Walworth Co.
31
Amay
321
Warner Bros. Pict.
+21
Bombay
201
{Westinghouse Elec.
861
Jaloutée
114
Woodward. Iron Cor.
19
21
Chase National'.
Bankow Benclsiu Kobe
Bemarang
461
National City Bank'
*-hist
1-ex, div.
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