1940-07-03 — Page 9

HONGKONG DAILY PRESS

Finance and Commerce

HOLLAND FOOD

SITUATION DETERIORATING

LONDON, July 2 (Reuter): News, bas been received in London from Holland which makes clear that the food situation has been steadily deteriorating ever since the German occupation.

Before then only sugar was ra- tloned but now, less than two months after the Invasion com- modities of all kinds are severely

rationed.

Bread cards have appeared. flour is limited to two-and-a-half ounces weekly and only very limited quantities of tea and cata coffee are available. Even and dogs are

in the ration scheme.

NO FODDER

The maintenance of livestock is seriously endangered by the im

TREASURY FINANCIAL ADVISER

RURAL CREDIT LOANS

FOR FUKIEN

FINANCE

NEW EPOCH IN CHINA'S FINANCIAL HISTORY: INHERITANCE TAX

CHUNGKING, July 2 (Renter)--A new epoch in China's financial history opened on Monday with the institution of the Inheritance TAX

-This was like the inauguration of the Income Tax on Oct 1. 1936 - and constitutes another attempt to Introduce direct taxes in China.

FOOCHOW. July 2 (Central)-- The Fukier: Provincial Govern- The direct system was first. pro- ment "has fixed the amount of posed in the early years of the rural credit loans for the 29th Repuplic. At the first. National fiscal year at $20,000,000 which financial conference held at Nan- will be used, among other things, king, after the establishment of for the development of rural' in- the National Government there, dustry, (Reater) -

and the Improvement | the proposal was never formally It is announced from the Trem-of water conservancy with a view adopted.

APPOINTMENT OF CONSULTATIVE COUNCIL

LONDON, July 2

sury that, at the invitation of the to attaining self-sufficiency in, Measures adopted at the second financial conference in 1934 paved Chancellor of the Exchequer, Sir the province. Kingsley Wood, Lord Catton har Of the amount, it learned the way for the collection of secepted the appointment in the that $8,000,000 will be used for Treasury as Financial Adviser, water conservancy purpose alone.

In addition, the Chancellor has appointed a Consultative Coumes consisting of the following:

Mr. B. R. Beale, chairman Guest, Keen and Nettlefolds;

of

Mr. Coline F. Campbell, chair-

Bank.

The system of cooperative trea- suries is fast developing in province. To date it is estimated that such treasuries, have

been established in 20 hsien..

come tax in 1836.

31.

In the fall of 1938 the Govern- ment decided that the collection

PRIZE DOGS

STARTED EPIDEMIC

The distemper epidemic which broke out m Singapore towards the end of last year began from dogs which had come home straight from a show upcountry where the best, healthiest prize

dogs in the country were being exhibited.

WEDNESDAY, JULY 3, 1940 -PAGE 9

BLACK&WHITE

* FINEST QUALITY IN

SCOTCH WHISKY

די

THOSE WHO KNOW, SAY IT'S THE SCOTCH.

the of the inheritance taxes would

start on July 1 of this year.

:: DIRECT TAX, BUREAU

Referring to the epidemic the Recently the Ministry of Finance Veterinary Department remark in established a direct tax bureau for their report that in the early the collection of the income, in-stages, owing to the state of

Furty per cent of the Inherl-cult to obtain supplies of serum tance taxes collected will be land as a result dog owners were allocated, to local governments for advised on precautionary measures Speaking at the 71st ordinary the development of local philan-which were that they keep their general meeting of the London thropic, educational, social, cul-dogs under restraint until pro- and Manchestes. Assurance Coma tural, publle, and welfare. enter-phylactic products were available CLOSING QUOTATIONS pany, Limited, Mr. A. H Dawes prises,

(the chairman) said:--

possibility of importing fodder and man of the National Provincial VALUE OF LIFE neritance, stamp and profit taxes. emergency, it was extremely diffi- the result must be, as in Den- mark, that the increasing propor- tions of livestock will have to be slaughtered.

Sir Walter Citrine: General Secretary of the Trades Union Congress; ...

Business in Holland has been Mr. D. Hunderson," research reduced extremely to a low level Fellow in Economics at the and unemployment is rapidly In-Souls College, Oxforu; " creasing."

The Germans have hitherto

taken no drastic measures to force the Dutch into National Socialism. They, apparently, are trying to win over the people with a show of "gentleness.".

Much is made of the

so-called

Sir Bertram Hornsby, chairman of the Commercial Assurance Com-

pany and formerly Governor of the National Bank of Egypt:

Mr. J. M. Keynes, well-known Economist:

Mr. George Middle, chairman of

ASSURANCE

Although the war tras cansed a

check to the usual expansion, the

Plastics Used For 'Planes

Several animals already Im- munised showed symptoms of the disease, but these were of a very mild nature and passed off within a few days.

MONEY AND EXCHANGE

JULY 2, 1940

On London:-

Telegraphic Transfer. 1/1 7/8 Bank Bilis, en demand 1/1⁄2 78. Credits 4 months sight 1:3 1/2

blood tie and the "racial affl- the Finance Committee of the Co./tux naturally restricta our net in: SAVING METAL ON part of the year the number of on Singapore:

nity of the Dutch and German operative Wholesale Society; and peoples

Lord Riverdale.

inherent, advantages of life assur-

The Animal Infirmary reports a ance as a provision for dependants

decided increase in the number of on Shangha and as an investment are as great

animals treated. For the greater as ever: Indeed, while high income-

On demand

terest earnings, the policyholders

animal patients receiving treat On demand ment taxed the accommodation toon Japan:- receive some compensation by way

Plastic materials afe being used the utmost. of a large rebate on their annual premium payments. "

for the fittings of aeroplanes, in- Moreover, to have to the utmost cluding the Hurricane and the

FITTINGS

HONGKONG SHARE QUOTATIONS, of the individual's, power is Spitfire fighters

STOCK EXCHANGE,

under

Till recently plastics have been present circumstances & national duty, Life assurance is employed mainly for making ash one of the most satisfactory ways trays, umbrella handles and simi- Border of saving, and money deposited in larly fragile articles. Now thelr the form of te premiums will strength has been developed so re- play its full part in aiding themarkably that enthusiasts even envisage the construction of com- loan programme of the nation.

SHAREBROKERS'

ASSOCIATION

Boyers Baller

Sales Nomla!}

TUESDAY 2.

Buyer

Ballare Salar

***

$1000 £59

Do. Col. Reg.)

£57

1.

£11

$73

JULY.

Banks

K. Banks......

$80

30/7

Shells'

$95

8:5

(815)

13/0

Mining

$300

160 cta

4.4

#

$316

201

Do. (Lon. Reg.)

Chartered Banka.....

E2P Mercantile Bks. "A

Mercantile Bks. "C"

Brink of East Asia.....

N. C. & S. Banks...... Insurances

#218 Canton Insurances.. Union Insurances...

50 cts. Underwriters $160 H.K. Fires..

Shipping

$120 Douglases

I

Steamboats..................

$100 Indo-Chinns (Pref....

Jado-Chinas (Def.)...........)

$8.00 Waterboats

Docks, Wharves,

Godowns, etc.

II.K. & K.Wharves... Providenta

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

H.K. Docks (New)...........

$93 +Shanghai Docks....

Kailans $9.65 Blaubs

8 cts. Hong Kong Minés......

Lands, Hotels and

"Buildings

H.K. & S. Hotels.......

H.K. Lands...

Biro Do, 4% Debentures

#9 80 Shanghai Lands.

H.K. Realies.

Humphreys

#1041) Chinese Estates..

Cotton Mills

830 Ewo (84)........

8210 8' Cottons (B.).....

Zoong Sings (9.)...... Wing On Textiles. (5.) #135

Public Utilities

H.K. TramwSYB..........

$7.40 Peak Trams. (old)......

83.70 Pesk Trams (now).

$60 Star Ferries..

Y'mati Ferries...... China Lights (0)......

33.06 China Lights (New).....)

$37. I. Electrics (Old).

#36

·817

$16

SM

$19

Ba

H.

K. Electrios(New)ii Macsó Electrics (Old) Macao Electrica (New)]

Bandukan Lights..............

Talephones (old)...

Telephones (new)........ S'pors Tractions (Ord.); Industrials

$14.9 Cald., Bacg. (Ord.) 8.

$12

Cald., Macg. (Prof.)8.

. I Canton Ices

60 ota.

$89

831

88

$1000

209

£67

See

£11

$73

##

50 ct.

$218

$160

$120

$10

$100

In the case of ordinary branch (plete airframes, policies, the company has joined

The Germans,' in their search

COMPENSATION FOR LOST SHIPS

PRE - WAR VALUE İN CASH in the agreement made betweer for substitutes, have taken full

Speaking at the annual meeting the life offices and the Govern-advantage of the new position. ment by which protection will be Some people constger that they of the British Steamship Co., Ltd: granted in all cases of hardship have carried their operations to in London Mr. E h. Watta, the so long as the surrender value of dangerous lengths, and that this chairman, disclosed an the policy is sufficient to cover is one of the reasons for other ment made with the Government shipowner, in the the advance of premiums neces wise excellent enemy fighters pro- by which a

full ducing wing flutter and other event of a ship being lost by enemy sary to keep the policy in

action, recovered in cash its pre- seriods defecta. jan force.

war value. A further

In the case of industrial branch policles not exceedig 50 assur-

arrange-

sum .W38

On demand " On India:-

Telegraphic

***.370

Transfer.

60. 3/4

MARKET REPORT

.:

FROM ROZĀ, BROK

Tuesday, July 2 Sliver prices rose yesterday to the extent of 1/18 for Ready" and 5/16 for Forward, the quotations being 21.11/16 for both deliveries. Silver advices reported Specula- tors as having bought. There were some bear covering. A kinall business was done. The market was steady. American Silver was | quoted at 34,3/4 for Epot.

The London New York cross- rate was quoted at 402.1/2. New 97: 1/2 York/London was quoted at 379.

MARKET A

and demand 82 1/2 On New York:-

Bank Bills, on demand 23 18. Credits, 60 days' aight 21 1/4 On Batavia:

On-demand

On Paris:-

Quiet,

STERLING

Bome; business was done at 1/3 for near delivery. The market closed at 1 pm, with small sellers at 1/8 July and 1/2.31/32 Augusti September, buyers at 1/3.1/32 Cash and 1/3 September.

* D. S. DOLLARS": Quiet. There were sellera at 108 34 23.9/16 for Cash, buyers probably

at 23.5/8 for Cash.

Bank Bills, on demand 1085. Crédits 4 months' aight 1160

On Balyon:-

On demand

On Mañlia:-

On demand

On Bangkok:

On demand On Sterling Notes:--

Bank: Buying Rate |Bar Bilyar per of

46 1/4

140 1/2

1/5-1/4 21.11/10

Calcutta. July 1 (Reuter). T.T. on Japan. 87.

In Britain plastic materials are being used only for parts of the placed to his credit in a fund Calcutta Exchange

weakness which was available only for re- ed. which were in force imme- structure where any diately before Sept. 1. 1939, and in would be entirely free from dan-placing the ship: $100

He mpgested the shipping tidus- 33/17

respect of which not less the two ger. Math has been learned from 36.30 years premiums shall have been the study of captured German try might be credited with, say, a

paid, an Act has been passed, for petrol tanks, which are self-seal-quarter of the difference between India Rupee Paper their protection from forfeiture ing after. beinx punctured by the Blue Book rates of hire allow- under defined conditions

$85

$141

$141

$73

18/3

091

.1

83

$29

H.K. STOCK EXCHANGE

There were dealings in Lands @ $29, Trams @ $14, Old China Lights @ $5,80 and a small lot of

New. China Lights @ $3. H.K. $100 Banks were sought after @ $1040. but beyond a sale of 2 shares, #3.60 $7.60 holders are not disposed to trade. These remarks also apply ta Unions and Electrics and to a les ser extent Ferries Providents and Hotels.

#30 $210

SALES

.......

HK. Banks, $1000.

bulleta

ed to it and what is being paid to Mr. 8. F. Millet, an expert on neutrals. the subject, emphasised the great benefit this represents through

"This money," he added, "might be set aside as a potential fight-

Bombay, July 1 (Reuter). Government 31% Rupee, 88-0-0 nominal,

share of the world's

the saving of the costly metal ing fund to be used in case of " which otherwise would have to be need when peace comes to assist taining, our employed.

in regaining, and, indeed, in re-seaborne "commerce"

SHOE CO.LTD

}

HONGKONG JUFTIMES ALE

KINDS OF

YOOTWEAL

SHANGHAI DOLLARS

Quiet.

·Business was done at 380 and also at 381. The market closed with sellers at 980, buySIS; at 382

SHANGĦAL MARKETS AAN The Shanghai market was closed today.

AFTERNOON MARKET

Quiet.

STERLING

The market closed with small sellers at 1/3 for Cash and 1/2- 31/32 September buyers at 1/3- 1/32 Cash and probably 1/8 September.

V. 8. DOLLARS

The market closed with sellers at. 23.1/2, buyers at 23.5/3-Cash, SHANGHAI DOLLARS-

Sellers at 380, buyers at 382,

Hongkong Daily Press

CLASSIFIED ADVERTISEMENTS

相

富

ROYAL STUDIO

Art Photographer

Excellent Enlarging & Developing

39; Queen's Rd. C.

Tels. 21184 & 33008,

#13

Cements

#4)

ILE. Ropese

Miscellaneous

$17 Dairy Farmst

$8.60 Entertainments

1. Constructions (old)....

Constructions (new)...

- $740,| Lane, Crawfords.

China Lights (Old), $5 80

#14

H.K. Landa, $29.

Trams, $14.

$37

$21

$3.80

$4.90

$3.05

$37

$36

Nanyang Tobacco. $3,10

$26) Sinceres

STAC Watsons til

43. Ch. 0.5% 19250$13ds.

108 HK Govt,, 4% Loans

995

HK Govt 3% Loan

H.R. Wing On

87

S'hat Wing On...

Vibro Filing

Maramsos (pv. (Lon.)

15230 - Marinaos Inv. (H.K.)

BLW Powells

D.

China Lights (New), $3. Electrics (Old); $37.

PROTECTING LAW

CLIENTS

Far-reaching proposals for deat

AUCTIONEERS

GREVLEST EGELICHON OF BARGAINS IN TOWN)

LAMMERTS AUCHON ROCAI

are contained in the Boliéitors || Honorer, ils

$20

173

'ing with defalcations by solicitors

23/0

Bill, introduced in the Lords by

Lord Wright, a former Master of the Rolls. It received a first read-

ลง

$4.20

$175

·ROOM TO LET

Fully Furnished Room in El- ropean-style Flat-modern con-

The measure has been prepared by the Council of the Law Society, Two of its provisions to which the 88.60 council attaches great importance ventences. healthy locality-break- $1.85 are:

fast optional--Apply 87, Marble The establishment of a fund, to Road, 2nd Floor, North Point $7.46 which all practising solicitors must

$2.10

contribute out of which personą

103

who suffer loss through defalca- tions by solicitors can be compen rated.S

80%

39

Every practising

produce annually to the

For Solicitors

qualified accountant

BUTTERICK

Expert fadies”. Tailor New Style Ready Made Dresses FOR SALE.

16, Wyndham Street.

Tel 23615.

FERTABS

Pills for Plants

A complete Concentrated Food for Pot Flanta,

for Magic Growt

in boxes of 60, and 160 pills at $1 and 2 per box

Direct Direction

Just push them in-water watch the amazing growth

GRACA

Maler

HOTELS

RUSSIAN CUISINE

MORE POPULAR EVERY DAY

METROPOLE HOTEL

1940 ZENITH.

NEW-MODELS "Just ürrived.

AVRIAL": NO GROUND,

@ping in, and play

CHUEN YEE HONG

54 Des Voeux-Road Of

Jimmy's

FEL EE

+Bals to Shanghai.

account and bank

Chrea

-TEX DANCES

3 to

Talpme No 222