1940-06-15 — Page 9

HONGKONG DAILY PRESS

Finance and Commerce

OFFICIAL INHERITANCE

STERLING

MARKET

U.S. WILLING TO CO-OPERATE

NEW YORK; June 14 (Reuter)— The Foreign Exchange Committee

TAX

SHANGHAI, June 14 (Reuter) Ali Chinese, whose movable, pro- perty has been transferred from the interior to Shanghai, Eable to payment of Inheritance Tar to the Chinese Government

MONEY AND EXCHANGE

CLOSING QUOTATIONS JUNE 14, 1940.

On London:-* are

as from July 1. stated the Sin-On

wanpao.

been

Telegraphic

Transfer. 1/1 7/8 Bank Bills, en demand 1/1⁄2 7/8 Credits 4 months' sight 1/3 1/4 Shanghai:inte On demand ies

It added that the local Chi- On Singapore:- has cabled London asking for nese District Courts have

On demand of | On-Japan -- full explanation of the Bank of instructed by the Ministry England's proposal to establish Justice, in Chungking, to this an official sterling market in New effect

York, thereby. expressing Eta

willingness to co-operate as there

is a strong sentiment favouring

the new system as the most help- ful to Eritain.

Meanwhile, despite the assertion

H.K. STOCK EXCHANGE

The market remains neglected, of the free market disappearing deals being subject to negotiation within three weeks, there is and not influenced by normal strong feeling in New York bank-trading conditions, prices naturally ing circles that the free market tend to ease slightly. would continue indefnitely,

It is pointed out that such B market could be used profitably for travel remittances.

RETURN OF BRITISH. NATIONALS FROM

ITALY

LONDON, June 14 (Reuter)- the House of Commons yesterday, Mr. R. A. Butler said that ample facilities were being arranged for the return of British nationals the from Italy to Britain and Dominions, Colonies and Protec- torates, and financial assistance will be provided where necessary.

BUSINESS DONE DURING THE WEES

HK. Banks, $1340. Union Ins.. $452), $150. Docks (0), $181. Trams, $16,20, $16. Electrics, $58.40. $58), Cements, $15). Govt, 4% Loan, 103

BUYERS

H.K. Banks, $1315. SALES

Dorks (0), $16. Trams, $16.10/20. Yaumati Ferries, $22, Electrics, $58.

Cements, $15)

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGE

Bayers Melleru Baing Nominal

$1315

£77

14:

Indi

⠀

4:1

SHAREBKOKERS' ASSOCIATION

FRIDAY 14. JUNE.

Bastc

H.K. Banks

Da (Col) ** 280 Da. Lon. Bj.)... £7) Chartered Banka

$30% Marcantile Bks. "AS £12 Mercantile Bhs, “03

873

Rank of Bank Asia .....

N. C. &#. Banks ...

Insurance

#218 Canton Inauenment. .........

$450 Union Issuguneen

186 cta. Underwriters

$160 H... Firms gransk

Shipping

$190 Douglas

#11 Bunboats

$100 Indo-Chizas

#80. Indo-China (Del)......

03/2

Bhalla.

$8.90 | Waterbonde

On demand

Un India:-

Telegraphic

49 3/4

95

Transfer.

and demand 82 1/2 On New York:-

Bank Bills, on demand 29 1/2 Credits, 60 days' night 23′′7/6 On Batavia:----

On demand

On

Paris:-

Bank Bills, on demand 1085 Credita 4 months' sight 1160

On Saigon:-

On demand

108 3 4

On Manila:-

On demand

45

On Bangkok:

149 1/2

Bank Buying Rate Bar Silver per os.

1/4

93 3/8

On demand

On Sterling Notes:-

Market Report

FINANCE & GENERAL

MALAYA AS EMPIRE'S "DOLLAR ARSENAL"

Reference to Malaya as the Em- pire's "dollar arsenal" d source from which the empire poncures a large portion or her foreign ex- change by the export of Malayun produce-was made by Mr. Lee Kong-chian in the course, of his address to shareholders at the eighth annual general meeting of the Oversea-Chinese Banking Cer- paration Ltd.

In these times all efforts and attention are directed towards the successful prosecution of the war."

are already well-known, and I do not propose to dwell on

them You wil no doubt de 'glad to know that the closin.... down was carried out, without any loss to the bank, and that all the officers of that `branch have since been given appoint- ment in other branches on an equal or better status.”

Test any shareholder should feel concerned about the bank's branches situated in countries outside the sterling bloc, I wish said Mr Lee, and in such at-to make it known that since the mosphere it is neither possible nor commencement of the

war of any avail to express any Europe, these branches have gra- opinion on the economie situation dually been placed on a basis as self-contained as possible." added

of the immediate future." ;

>

in

A profit of $1,375,297.08 was the chairman, who next made re- earned during the year under reference to the general trade of view, announced the chairman, Malaya for the year 1939, BETTER TRADE

and the proposals of the directors

and adopted.

a

to declare a dividend of five per “The” tatal - value of this trade cent and pay a bonus of fifty shows an increase on that of 1938 cents per share * 42 1/8

were approved by about $238,000.000, with an ex- cess of exports over imports of BRANCH OFFICES

$122,000,000 satisfactory, Im- Touching on the progress ofprovement on 1938," "said "Mr. Lee branch offices. Mr. Lee announced adding that these increases were the opening of four new, branches chiefly brought about by the In Alor Star, Teluk Anson, Sega- larger production quota and the mat. and Klang-increasing the higher prices of principal comme- number of offices to twenty-four. dities-rubber and tin-and by the "Proposals to establish new i increased activity in trade conse-- branches in countries outside the quent to the outbreak of war.” sterling bloc have been suspended The report and accounts were for the duration of the war." de-approved and adopted. and a clared the chairman, who then re- dividend of five per cent. absorb- ferred to the closing down of the ing $500,000 and a bonus of fifty Bangkok branch. „

cents per share, absorbing $125,000 were declared. A sum of $250,000 was also transferred to the general reserve.

FROM KOZA, BROS. The price for Ready Silver the holidays to over rose 3/8 23.3/8. The Forward rate also Silver ad- rose 3/8 to 21.9/4. vices reported small sales made by speculators. The market was dall American Silver was quoted at 35.

The London/New York cross-rati was quoted at 4021/2 New York! London was quoted at 371. -

MARKET

Baser Bellare Balen Worpinal

Steady.

STERLING There were sellers at June/September, buyers for any delivery.

1/231/32 at 1/3

·$1,330 £77

£80

+

83.

£304

£12

$74"

30 ct.

+4

$218 $450

+

86 cta

***

U. S. DOLLARS Opened with sellers at 22.7/8 with some business done at 23 for Cash and June. Bubsequently "the market flrmed up and business was done at 23.1/16 for Cash, 23. 1/8 Cash, 23.3/16 Cash, July and also 23.1/4 for Cash. The market closed at lunch time with sellers

at 23.3/18 for June, 23.1/8 July/ $170

August, buyers probably at 23.1/4 $120 Cash and 23.3/16 August.

$11.

$100

$100

54/41

momen

$6.00

Docka, Wharves,

Godowns, etc.

$05

H.K.K. Wharves

805

Provident

Providenta (DSW) ...

8161 H.K. Docks (Old)...

$16)

$16 ELK. Decks (New)...

do Rts.

$16

#21 Shanghai Dooks 1. ver

8281

Mining

こ

178 Kailan

17/6

$9.90

$8.46 Haube ......

Venesuela Gold · Plán 6 cta. Hong Kong Minat ... Lands, Hotels and Buildings

$4.35 E. Hotels. $32 H.K. Landa ..................... $iro Do, 4% Dabamémus 19 Shanghai Landa # $4.20 E.X Baltis

$8 Hamphrey *********

$1041 Chinese Kalame

Cotton, Mill

331 Ewo. (8.) .005770Bunne 8210 8'hal Cobione ()

Zoong Bings (8.). Wing On Textilu (6.) Public Utilities

$16 Tramways (DN LENOMIS

#311

****

J

::

IM

$3.90

SHANGHAI DOLLARS

Opened with sellers at 380 with business done at 382, also 381. At 1 pm. there were sellers pro- bably at 379 for Cash.

"Circumstances which led to the closing down of our Bang- kok branch in September, 1939,

LONDON STOCK.

EXCHANGE

LONDON, June 14 (Reuter)-On-

SITUATION NOW CLEARED UP

LONDON, June 14 (Reuter)—At-

the Stock Exchange, early firmness tention was drawn at questiori was not maintained owing to ex-time in the House of Commons treme" quietness in trading but yesterday regarding the indigna- git-edged securities recovered to tion among Frenchmen in Great around the opening levels.

Britain who' were sublected to the Most of the other groups showed recently-issued restrictions appiled small net lossen.

[to allens:

Wall Street was higher,

LONDON METALS

EXCHANGE

London, June 13 (Reuter). Tin, Standard, Cash, Middle Price, 239 to 291.

Tin, Standard, 3 months, Middle Price, 289-7/8" ·

LONDON GOLD

London, June 13,(Reuter). Bar Gold, Fine per oz. 168.

Export Restrictions

Sir John Anderson said, that orders had now been issued exem-

Png Frenchmen from the curlew and the use of bicycles, motor cars, cameras, field glasses and also residence in the restricted areas.

Immediate consideration is also being given to the position of Frenchmen la

the relation to Civil Defence Services from which allens are excluded.

EVEN DICTATORS UNDERSTAND THIS LANGUAGE

SHANGHAI MARKET

LONDON, June 14 (Reuter)-As NEW YORK., June 14 (Reuter)—— Erratic. Sterling opened with a result of Italy's entry into the America's latest battleship. the sellers at 3.7/8. The highest rate War the Board of trade made an 35,000 tons U. 5. S. North Carolina. reported was 3.15/16. Closed with order under which export of all was launched on Thursday ‘at the sellers at 9.29/32. US Dollars classes of goods to Bulgaria. Brooklyn Naval Yard, opened with sellers at 8.1/32 and Greece, Hungary, Liechtenstein Governor Hoey. of North Carolina elosed with sellers

that ut 6.1/16, Rumania, Switzerland, Yugoslavia declared

battleship Steady.

AFTERNOON MARKET

The market was quiet in the afternoon....

STERLING

The market closed with sellers

at 1/2.31/32 June/Sept. buyers $100 at 1/3 for any delivery.

$4.90 $7.76

$324 $930

$120

$18

$7.40 Pack Traps (Old) -

$3.70 Pak Truma (now) ... $60 Star Ferrion

34.

$87

822

#161

***

#22.85 Y mati Ferrion"

Do. (new)

$6.85 China Lights (0) $44 China Lights (New)

Chins Light Ra

$68 H.K. Katrics

#22.10 Macao

#11

Acao Bestclosu Sandakan Laghis

$23 Telephones (ok)

#10.20 Telephone (new)

Tractions

Trackicos (prof.)"

Industrials

$14.00 Cal., Mag. (Ord.) B.

$14 Cald, Macg (Fruf.) 8.

$1 Canton Los

481

Caconale

Кортрет

Miscellaneous

$20 Dairy Farma......... Dairy Farm

#7 Ch. B'ainmain

Constructions

$1 Constructiona

$7.45 Lane Crawfords

Jante

Nanyang Tobson....

#

$2.60 Bincares Garrastamen

$91· Watains

$108 H.E. Gork: 6% Loans

$95

H.K. Govt. % Loma

43 Ch. GJ% 192G 85dz.

$80 H.K. Wing Os

What Wing On

Vibro Pling

10/8 Märsmana Inv. (Lam.) 4/9 || Marsmann Inv. (EX.

$1

Win Powelle

1018

U.S. DOLLARS ·

Steady. The market "closed with sellers at 23.1/4 for Cash, 23.3/16 June and 23.1/8 July, probably August, buyers at 235/16 10: Cash, 23.1/4 July and probably

| 23.3/16 ́August.

-SHANGHAI DOLLARS

Closed with sellers at 377." ..

SHANGHAI MARKET

Sterling opened with sellers at 3.29/32 and closed at 3.15/16 for Spot, UA.. Dollars opened with $8.GO sellers at 8.1/18 and closed at 6.1/8 for for Spot. Steady but quiet.

$4

$581

$24

80.60

23/0

Shanghai Exchange

Shanghai, June 14 (Reuter),

Sterior

Opening Closing

Sellers Spot 0/9-7/8 0/3-15/16 June 0/3-7/8 0/3-15/16 July... 0/3-25/32 013-27/32

$15.96

U.S. Dollars

444

$3.90

Spot June

$6. 6'

$6-1/8

B-3/32

July 5-13/16

5-15/18

Market:Quiet.

$1.85

$7.45 HONGKONG

SHAREBROKERS:

ASSOCIATION

Volume Of Business Transacted

on Friday, June 14, 1940,

$3.25

82.20

38.45

43

103

$30

HK Electrics

$14

HK, Docks (0)

China Lights (0)

100

200

350

The total value is $5,840.00.

131

the

and the Black Sea ports of UABR. | “speaks the language that even a la prohibited except under License, dictator can understand.”

SHOE CO.LTD.

HONGKONG SUPPLIES ALL KINDS OF " FOOTWEAR

INSURANCES

The National Mutual Life Association af Australasin, oders you the best conditions for a fund for old age, and your family in case of your death. Annuities and educatiónsi policies are

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. Tal, No. 27473.

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H. B. WELLS.

BUTTERICK

Expert Ladies' Tailor

New Style Ready Made Dresses FOR SALE.

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TO LET

Large furnished or unfurnished

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6.70 without Breakfast.

* For: particulars "please apply to

Box No. 884, c/o HK, Daily Press, Ltd, or phone No. 30251..

SATURDAY, JUNE 15, 1940.-PAGE 9

H

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