1940-07-11 — Page 11

HONGKONG DAILY PRESS

Finance and Commerce

Ministry Of Agriculture, Forestry Appointments

M

CHUNGKING, July 10 (Central)--On the recommendation of General Chan Chal-tong, Minister of Agriculture and Forestry, the 472nd meeting of the Executive Yuan, held here yesterday, appolated Messrs. Chang Yuan-feng, Li Hsun-ching, Chao Pao- chuan. Chen Chi-hui and Lu Yun-chon Directors of the Do- Agricultural Economy, partments of Agriculture, Forestry, Fishery and Animal Husbandry and Counsellor respectively. Formation of the Ministry of dealing with agriculture

was

11.

TOBACCO HORNWORM CONTROL

In the search for an alternative

FINANCE

£1,000 MILLION VOTE OF CREDIT FOR WAR EXPENDITURE

LONDON, July 10 (Reuter)-In the House of Commons res terday. Str Kingsley Wood, Chancellor of the Exchequer, moved a vote of credit for £1,000,000,000 for war expenditure.

Sir Kingsley recalled that on March 13 the House" approved.. of a credit for £700,000,000 over £575,000,000 of this had al- ready been expended. “

For the last four weeks the expenditure

to arsenate of lead in the control average rate of

of the tobacco worm, the report directly on the war equalled over of the Committee of the Canadian £7,500,000 daily of which £8,500,-. Horticultural Council on horticul-000 was spent on the Navy, Army, and tural research states that effective Air Force, Ministry of Supply and

n

A

We

ENOUGH FOOD FOR ANY AIR RAID EMERGENCY

Assurance Given By Minister

food

supplies Bre

Britain's organised to meet any emergency that may arise from air raids.

this assurance was given re- cently by the Minister of Food Lord Woolton. He said he was satisfied that, despite the loss of

Holland from

ona supplies

Agriculture and Forestry was de-forestry. There will be one uni-control has recently been demon- aircraft production. The remain cided upon by the Supreme form plan for the Ministry, that strated by spraying with synthetic der was spent on other war service like shipping, food, home security. National Defence Council at the is, to increase and to improve pro- cryolite.

The spray should be mixed, using etc. end of last year. General Chan ducts from the good earth. While

These figures, be declared, are Chai-tong, formerly Commander attention will be given to the 8 to 10 lb. of the synthetic tryolite In-Chief of the Kwangtung Forces, growing of more farm commodi- to 40 gallons of water, and should further proof of our fixed deter-

atles having export value, the be applied at the rate of 120 gal-mination to achieve victory. appointed Minister by

The gap between, revenue National Government mandate on Ministry will also endeavour max-lons per acre on tobacco plants

ing Free China self-suficient, not bearing from 18 to 20 leaves per and expenditure is widening. March 15 this year,

Further contribution from General Chan is assisted by only in foodstuffs, but also in raw plant.

Ordinarily, one properly timed taxation towards the cost of Messrs. Chien Tien-he and Lin materials.

The Ministry will emphasise im- spraying should be sufficient but in

the war must be the highest Yi-chung as Administrative and

possible" and must soon be Political Vice-Ministers respective proved farming although Vice- years of heavier infestation

Chien admitted that second spraying may be necessary. made. ly. who were appointed on June Minister

that was imperative It China is still a long way from in any case, the plants should be Mr. Chien, of Cornell, was scientific farming. The technical sprayed thoroughly, as the unfor should keep before us the neces- Belgium, there would be sufficient formerly Director of the Depart-side of agriculture will be popu-tunate practice of most tobaccosity or sound financial effort and to feed the public even in the ment of Agriculture and Forestry larised and rural auxiliary indus- growers of driving the sprayer be ready to make the necessary event of any air threat to com- of the Ministry of Economic tries encouraged. Efforts will be through the tobacco fields Affairs, while Mr. Lin was formerly made to co-ordinate agriculture quickly militates seriously against a member of the Kwangtung Pro- and industry with the ultimate the success of the control. vincial Government, and concur objective of industrialising Chi-

Commissioner of rently

Civil nese farming. Affairs.

Mr. Ou Fang-pu, formerly member of the Kwangtung Provincial Government, and concurrently Commissioner of Finance, was appointed Direc- tor of the Department of Gen- eral Affairs of the Ministry also on June 11.

15

munications,

too heavy financial sacrifice.

The House unanimously agreed

-He did not want. he said, to to £1,000,000,000 credit and went give the impression that the in- into secret session on economic vasion of Belgium and Holland Certam 115 seriously. had hit thing would have to be got else! where.

MARKET REPORT

B.O.T. PROHIBITS

FROM ROZA, BROS. EXPORTS TO

Wednesday, July 10. The price for Ready Silver "was ALGERIA

unchanged yesterday but the For LONDON, July 10 (Reuter)-The ward rate dropped 1/18 to 21.9/ Board of Trade has prohibited all 16. Silver advices reported the being qulet with а exports to Algeria, Tunisia and the market as

small business done. American French zone in Morocco...

for The order is being enforced im- 80ver was quoted at 34.3/4

Spot...

The London-New York Cross- rate was quoted at 402.1/2.

3/4.

Interviewed, Vice-Minister Chien declared that the new.. Ministry will merge all existing organsmediatel

SHAREBROKERS' ASSOCIATION

!

HONGKONG SHARE QUOTATIONS York/London was quoted at

New

377.

Bal

Nominal

WED., 10. JULY.

Burr

Bilere Sales Nominal

Qület,

MARKET

STERLING

STOCK EXCHANGE,

Bayero Mar

$3110

£64

£38

Bank's

H.K, Bank,

Do. (Col. Reg.) Do. (Lon. Reg.

Chartered Banks.....

Mercantile Bks. "A".

Mercantile ks. "C".

Bank of East Asia......

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

Insurances -

#218 Canton Insarances......

21

$73

+

****

$1100

*£65

£84

EBZ

£281

$73

£111 50 ot.

$218

$320

60 cta

$160

Warfaze

U.S. AWAKE IS INSPIRING SIGHT

They had taken steps to make up to some extent for the loss of condensed milk, and be appealed | to allotment holders to make up for the loss in green vegetables A considerable amount of fresh egg Imports had been lost. In 1938 the Broadcasting to Americans last imports from Holland amounted night, Mr. Herbert Morrison, the to 21 per cent., from Denmark 34 per cent and from Belgium 1 per Minister of Bupply, said:

·LONDON, July 10 (Reuter)

"Our confidence in our ability. not merely to hold off a Nazl attack, but ultimately to master It is partly the measure of our confidence in America's readiness to add her great resources to our

cent.

THURSDAY JULY H, 1940. -PAGE 9

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to be able to give the public the RUMANIAN OIL

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SHARES

him by Parliament. A great deal The Ministry was considering BUCHAREST, July 10 (Renters of his correspondence had been the drafting of a general order-The Rumanian Cabinet, as a Some business was reported atown for the destruction of that from teetotallers who urged that dealing with the issue of a licence special meeting last night, 1/3 for Cash. The market closed which menaces her no less surely he should do this instead of re- which would allow any person who proved of a decree prohibiting 12

with sellers at 1/2.31/32 July7 August, buyers at 1/3 for Cash.

U. "S. DOLLARS

Business was reported at 231/3

for Cash. The market closed with sellers at 23.7/18 July, buyers at

23.9/16 for Cash,

SHANGHAI DOLLARS Opened with sellers at 376, re. sulting in some business at 379. The market closed with sellers at $120 378, buyers at 379,

$320

Union Insurances.......

50-cta Underwriters

+

$180 H.K. Firea....

Shipping

$120 Douginson,

#11 Steamboats

Jo

.

$100 Indo-Chinas (Pref....!

8100

$20 Indo-Chinas (Def.)...

33/9

Shells tha

$6.00 Waterboats

Docks, Whary

Godowns, etc

396

$3.35

H.K. & K. Wharve.... Providents

$95

$31

316HK. Docks (Old).....

8161

H.K. Docks (New)

$143 $14.35

$23

そ

$590

min me neinuma

፧፧

Buildings

#31

II.K. Lands...............

Shanghai Lands.......

$8

SHANGHAI MARKET $100 Sterling. The market opened 33/8 with sellers for Spot at 3.15/16. $6.00 Subsequently the market eased off to 3.59/64 and at the close sellers were again quoted at 3.15/

at

16 for Spot Uas. The market opened with sellers for Spot 6.3/16 and closed with sellers at $28.6/32 for Spot,

15/6

-$91

:་ཧྰུྃ་

$30

$3.70

$6.65

$28

8210

::

H.K. STOCK EXCHANGE

session The short

quiet.

BUYERS

Providents, $3.35.

Lands, $29.25.

Trams, $14.10.

Was very

China Lights (Old), $5.99,

Telephones (Old), $18.

SELLERS

Providents, $3.55.

Trams, $14.40.

$14.30

*SALES

$8

Unions, $320

$57 FM

831

180 HONGKONG.

$14.30

15/6

+Shanghai Dock.........

Kailans

Mining

$8.66 Raube permed

6 cts. Hong Kong Mines......!

Lands, Hotels and

H.K. & 8. Hotels, $3.20 $3.35

$100 Do. 4% Debentures...

#97

H.K. Realties.....

Humphrey...

$104) Chinese Estate

Cotton Mills

$29 Ewo (8.).

8210 S'hai Coltons (B)....

Zoong Singa (B.)........ Wing On Textiles (8.) $125

Public Utilities

HK. TramwBJB.........

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

83.70 Peak Trame (new)....

380

Star Ferries.

$29

Y'mati Ferries.

China Lights (0).

3.05 China Lights (Now).

$38

-$25

817

916

#11

H. K. Electrics (Old).

H. K. Electrics(New)

Macao Electrics (Old))

Macao Electrics. (New); Bandakan Lights...... Telephones (old)......

$7.90 Telephones (new)....

S'pore Tractions (Ord

Industrials

$14,90 Caid., Macg. (Ord.) 8. $11

Cald., Macg. (Praf,)8." $1 Canton Ices..... $13.50 Coments...

H.K. Ropes earned Miscellaneous

#4)

317

#11

Dairy Farma..........

$6.60 Entertainments.

Constructions (old).... Constructions (now)

$7.46 Lane Crawfords...

Nanyang

$8.00 Sineures ·

$35

$34

Loots.

Tobacco $3.30

Watsona Ch. G.5% 18204Bds.

$109 EL.K. Gost. 4% Loans

t

$3.10

$7.85

102%

·H,K. Govt. "34% Loan

$38

1.K. Wing On

S'hai Wing On

Vibro Piling

08

Marsmana Inv. (Lon.)

4/0 Maramans Inv, (HK)

1Wm. Powell

Cit+Balo to Shanghai

##

132

817

$8.20 $1,86

"We are inspired by the sight of America awake and preparing.

sale of shares in Rumanian all companies, except to Rumanian citizens.

This is interpreted as a more 10 prevent the transfer of such shares abroad

ducing the sugar ration.

was a producer of vexetables to "I have great respect for teeto-sell his produce by retall." tallers." said Lord Woolton, "but

SUGAR RATION "Against the material strength it would be entirely wrong for the

"A further, reduction of 10 per of the European continent or Minister whose job is to find the ganised for aggression there is essential foodstues to use his cent. of pre-war usage was made

There has been insistant runaqurs only one sure industrial counter-powers to introduce social reforms on July 1 in sugar supplies to

here that British Interests have poise, and that is to be founded of one kind or another."

Cheese rationing was not con-

No reduction will be made in been endeavouring to dispaSE Of: on the capacity of Britain and

templated, and so far as butter allocations to manufacturers their share in Russia. the United States.

Was which are only 40 per cent or less “You and we must dovetail our from Ere was concerned

resources and our methods. We tirely a question of price. I told in Britain believe in our power the Irish representatives that we to stave off and beat back the should be glad to take butter on menace that hangs over us."

manufacturers.

of pre-war requirements.

Products affected include bis-

con-

LONDON STOCK

EXCHANGE

a commercial basla," he said, "Ti cults, beer, cakes, canned fruits

LONDON, July 19 (Reater) On: the Ere farmer can sell in com- and vegetables, chocolate,

Erchange, giltedged petition with the New Zealand densed milk, confectionery, drugs the Stock' LONDON, July 10 (Reuter)-a farmer, then we are prepared to and medicinal preparations, ice securities improved but closed -be- cream, jam. jellies, Kyrup and low the best owing to quietness in National Council of Labour meet-buy."

trading.

ing last night unanimously ex- Regarding a national loaf, he sundry beverages.

ressed opposition to the purchase said that he was meeting the

Fercentage allocations of glucose

Industrials were narrowly irre--

tax on the ground that it would bakers this week, and was in to manufacturers from July 1gular. Copper shares were excep

unfair burden on the negotiation with the millers on were subject to thea same redue-tionally steady, 'mpose an pnorer section of the community

the extraction of our. He hoped tion.

Wall Street was steady."

SHOE CO.LTD.

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SHAREBROKERS'

ASSOCIATION

Volume of Business Transacted

on Wednesday, July 10, 1940

HK Electrics (0)

Union Tre. "...............

A.S. Watsons

HK. Hotels

40 $35.40

20 320,00

2007.60

250 7.80

100

1,424

7,50 3.20

3,034

The total value is $16,542.84

U.S. TREASURY BOND ISSUE

NEW YORK, July 10 (Rentery- The United States Treasury ́is issuing $850,000,000 of 24 per cent.

AUCTIONEERS

GREATEST COLLECTION OF BARGAINS IS LOW NI

LAMARTS

REDUCTION IN TEA QUOTA LONDON, July 19 (Reuter)The International Tes Committe has reduced the quota by 5 per cent. to.95 per cent. for the current con- trol year ending March 31,1941. }

NO FAMINE FEAR LONDON, July 10 (Reuter) The French Minister of Food and Agriculture announced yesterday bonds today, when maturities and that reserves of com, mest and other details will be disclosed.

The issue will calss the Federal wine are sufficient, so that there

need beno" Lest Debt to a new high level of 143.- 700,000,000 or within $1,500,000,000

of borrowing power, syllable for non-military expenses

Restrictions an imported pro- ducts howBYG will be made still

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