1940-07-22 — Page 9

"

HONGKONG DAILY PRESS

TRUTH ABOUT REICH'S

จ

OIL RESOURCES

Deficiency In Quantity She Cannot Remedy

For any fair computation of Germany's strength in the field It is essential that her position in regard to oil supplies should be carefully surveyed. What sources of supply are still open to her? How much does she require? What has she acquired hy conquest?

V

THE NATAL SQUADRON

DURBAN, July 21 (Reuter)

FINANCE

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGE

"The Natal Speed Planes Find are eller closed yesterday with a total of approximately £201,000 sub- scribed. Except for about £2,000 the total has every penny of been raised within the period of six weeks,

purpose

It is believed that never i the history of South Africa has so much money been voluntarily The answer to the last question supply, and from Russia. Trans-subscribed for any is that Denmark and Norway have port difficulties set limits on this so short a period. yielded a substantial but irreplace-assistance. able, stock to the invader. Danish reserves are

Sales

$1200

268

268

SHARKBROKERS' ASSOCIATION

SATURDAY 20. ther

Ballura Salon Nomina!

JULY.

Banks

H.K. Barks............

Tho.. (Col. Reg.)

De. (Lon. Reg.) ....

Chartered Bank's

1984 Mercantile Bks. "A".

Mercantile Bks. "C".

Bank of East Asia..

HILDE

50 ot

MONDAY," JULY 22, 1940. —PAGE 9

SAY

Gordon's

...and know what you're

drinking/

GORDONS

DRY GIN

DISTILLERY LONDON.

$1180

268 £68

E6

£28

£113

£1

$73

N. C. & S. Hanks......

Insurances

İMA

#218 Canton Insurances.....

$216

$335

Union Insurancea.............. $330 $350

160 cta] Underwriters....

(60.cts

$180

H.K. Fires..

$100

$120

$120

Douglasen

$11

Steamboats...

$100

$80

$100

39/6

Shella

39/6

$8.90 Waterboats

28.90

Docks, Wharves,

Godowns, etc.

H.K. & R. Wharvos... Providenis.

€95

$3.75

A squadron of Spitares, which money will purchase, will Under a recent trade" agreement the

undertook to supply be known as the Natal Squadron estimated to have Rumania been about 160,000 tons, half of Germany with 1.300.000 tons of oil and will be maintained as such which was petrol. Norway's stocks annualy, plus certain arrears of by the Air Ministry for the dura- amounted, at most, to 250,000 tons, deliveries, which were calculated tion of, the war." part of which has fallen into Ger- to bring the 1940 quota up to

man hands. writes a Home corres-1,500,000 tons.

pondent

not

of

But transport facilities from a windfall: when Rumania are clastic. Before But this was it has been spent Germany must the war nearly 40 per cent. herself supply the oll which in-Bumania's oll exparts to Germany dustry and vital civilian services were shipped from Constanza, on

spirit.

but other.

LONDON MONEY MARKET

LONDON, July 21 (Reuter)-The may need in her occupied terri-the Black Sea. through the Med-Money Market was easter in the tories It must also be remem-terranean. to Hamburg or one of letter part of the week after being tered that German forces operat- the Baltle ports. Transport up somewhat stringent earlier.

to Regensburg and The Treasury was also well sup- ing in Norway are using up quan- the Danube titles of oll, particularly aviation Vienna is dependent on the avall-pfled with funds as witness the ability of tank barkes. At the week's Treasury bills allotment of In 1938. Germany" imported or Iron Gates German all must at only £61,000,000 as compared with produced at home nearly 8,000,000 ways take its turn with grain and £65,000,000 several weeks previous-

exports to Hungary and

ly. tons of oil and substitutes, much of that total must be as- Jugoslavia, which there wait for sumed to have been absorbed in passage through a bottle neck. building up stocks against use in "war. and her 1937 consumption of 5,500,000 tons may be taken more nearly representative of her normal pence-time requirements. laying in Ever then she was

be de-

15

SUPPLIES FROM RUSSIA Rall transport in normal times accounts for only

very $

The average rate of allotment was £14.45d which was practically the same as the week earlier,

Applications aggregated £118,755 small millions and competition was keen, percentage of Rumania's export. hence the market received only 37 It is dependent on the available per cent of its applications. tank cars, the carrying capacity stocks, but against this can of the railways, and the limited .offset a natural, increase In

mand during the last two years The 5,500,000 included "2,500,000 tons of gas and diesel oil and 500,- 000 tons of lubricating clls. In addition. German shipping used 650,000 tons of of as fuel,

at Ploesti loading facilities the other oil refineries.

and

It is unlikely that the German quota could be much increased, particularly as Rumanía supplies

Wall Street closed steady,

NEW TRADE AGREEMENT

LONDON, July 21 (Reuter

oil to Italy. Jugoslavia and Hun- A new trade agreement between gary, and would need to maintain Germany and Hungary was gigil. Under war-time conditions gen her exports to Great Britain. In-ed yesterday, stated the Buda- "eral consumption would be "con deed, during the first six war pest correspondent, of the officia!

siderably reduced. Private motor-months Rumania "exported only German news agency, ing has beer virtually abolished

385,000 tons of off to Germany, It was explained that in view in Germany, and a further saving 385,000 tons of all to Greater of the general European situation of petrol is being effected by the Germany, against 490,000 tons, in the new agreement will run for Increased use of benzol, alcohol, the same period of 1938-39.

only one year producer-gas and other subat-

The key to Germany's all pro- three-year period which hitherto tutes:

blem is probably Russia. Under After allowing for the mainten- the stimulus of successive Ave has heen, the rule in German- ance of essential civilian services year-plans, the Soviet oil industry Hungarian trade treaties and for the full use of Germany's has steadily expanded and, with 450,000 commercial vehicles, which

annual [LF!

output of around

instead

VICHY STARTS REPAIRS

will certainly be needed to sup-130,000,000 tons, is second only to plement her railway system, civi- the United States. Consumption, lian petrol consumption could still which. was estimated at about

LONDON, July 21 (Reuter) be reduced to about 1,750,000 tons. 25,000,000 tons in 1938, is increas-

HOME PRODUCTION

ing still more rapidly, and Russia report from Vichy" yesterday' said that a meeting of French

Shipping

100 Indo-Chinas (Pref.)...

Indo-Chinas (Det.)..

H.K. Docks (Old) $18 $151 H.K. Docks (New)...........! $141

$90

$3.95

$151

#143

#26

+Shanghal Docks....

Mining

173/6

Kailans

$9.55 Rauhs

6 pte,, Hong Kong-Mines..............

Lands, Hotels and Balldings

H

$27

NO COLOURING MATTER

15/8

$8

$3.40

HK. &.8. Hotels......

29,20

$31

H.K. Lands....

$100 Do. 4% Debentures..

$31 $100

$16.20 Shanghai Lands........

+4

83+

H.K. Roalties........

$3.90

$8

$6.65

Humphrey

101

Chinese Estates......

-Cotton-Mills

234

Ewo (9.)

::

82105 Hai Cottons (S.)....

$15

87.40 Peak Trams (old).

Zoong Binge (8)...)

Wing On Textiles (8.)! $125

Public Utilities

H.K. TramwBYS..

$15.10

$3.70 Pesk Trams (now)..

360

Star Ferries

$67

$22

Ymali Ferriss.....................

$20

86.80.88.70/ 75...

China Lights (O).......

16.25

$3.65 China Lights (New)..

$364

H. K. Electrics (Old)...

#361

$381

$17 $16

811

$901

H.K. Electrica New)..... Macao Electrica (Old)) Macao Electrics (New

Sandakan Lights........ Telephones fold)....... Telephones (new)....... S'pore Tractions (Ord) Industrials 814.00 Cald., Macg. (Ord) S.

M-J

(1940)

$34

910

Lands, $31.

#301-

Trams $15.10.

NO INJURIOUS INGREDIENTS

H.K. STOCK EXCHANGE

Saturday, July 20. Market was quietly steady with prices well maintained.

BUYERS

Docks (Old), $15.25. Docks (New), $14.75. Hotels, $3.60.

Lands. $31.

Telephones (Old), -$21.25. Watsons, $8.10.

SELLERS

H.K. Banks, $1,200. China Lights (Old), $6.80.

SALES

Hotels, $3.70.

Electrics (Old), sa6,50.

HONGKONG

SHAREBROKERS

ASSOCIATION Volume of Business Transacted on Saturday, July 20, 1940. China Lights (Old)

H.K. Hotels

MARKET REPORT

-

FROM ROZA, BROR,

Bliver prices rose "1/8 yesterday for both deliveries, the quotatims being 22. 5/8 for Ready and 22.1/18 for Forward, Sliver advices report- ed some bear covering The market steady but duli, American Silver was quoted at 34.3/4 for Spot.

Was

The London/New York cross-- rate was quoted at 402.1/2 New York/Landan was quoted at 391.

MARKET.

Quiet.

STERLING

There were sellers at 1/231/32 {July/August, buyers at 1/3 for

Cash.

U. S. DOLLARS

Opened uncertain with sellers at 23.5/8 with business. done at 23, 11/16 followed by transactions:a), 23.3/4 and 23.7/8 for near.delivery, The market closed with sellers at 23.7/8 July, buyers at 24 for Cash.

SHANGHAI · DOLLARS

Business was done during the 6.50 early part of the morning at 383, 3.70 Towards the close business, was 200 16.10 reported at 384.1/4. The market 200 16.10 closed with sellers at 384, buyers

16.10 probably at 385 for fash.

SHANGHAI MARKET

100

STANDARD PRICES

Sterling opened with sellers at

The total value is $11,484.50.3.7/8. The highest rate reported was 3.29/32. At the close it was easter

S. Dollars at 3.55/54. opened with sellers at 8.3/16 and at the clcse sellers were reported at 6.5/32 for Spot.

NOTIFIED

The following standard prices are

notified in the Government Gazette

Red Salmon, tall tins $1:54 per tin.

Coffee B. & W. 1 o. tins $1.80 8. & W. Red Salmon,

per tin: Tinned salmon-9. & W. $1.33 per tin,

at tins

of the

$12 Cald., Macg. (Prof.)B.

HI

$143

|$14,38)

$1

#42. H.K. Ropes.

Canton Ices. 50 ota.j Cements

914

#3}

H.K. Govt. "Loans $102 4% Loan

109

$95

3+%

26

(1934)

$95

:.895

3+%

Miscellaneous

HK. Tramways,

$171

Dairy Farms.......

#17)

$6.60 Entertainments #11

$8.90

Constructions (old), Constructions (new).

$1.85

$7.40 Lane Crawfords.

$3.30

62.10

Watsons

日

MI.K. Wing On

$39.

S'hai Wing' On

$14

28

Vibro Piling

·9/0

Marsmans Inv. (Lon.

4/0

Markmans Inv. (H.K.

'81

A. similar saving will have oc- has been laying down very con- curred in the use of lubricants, siderable stocks, so that exports ministers decided on various plans and regeneration of used lubricat- have decreased, and ir 1938 were for reconstruction. ing oils is likely to be practised under 1,000,000 tons.

finance

88,10

of which The Government will on a large scale. But, unless in- Germany received only 80,000 tons. the reconstruction work, railway dustrial activity is to be hamper-This low figure must be attributed materials, repair of railway Unes ed, this item can hardly be cut to transport difficulties rather and so on. below 400,000 tons a year. The than to political or ideological supply of of fuel for shipping no differences.

longer presents a major problem; Although the partition of Poland it is confined to fuel and diesel has given Russia and Germany a

The work of restoring damaged buildings will be started at once.

oil for such of the surface feet common frontier, direct rail com- might eventually enable Russia to as remains afloat and active and munications are still handicapped make a much larger contribution. Meanwhile Great Britain can for submarines, which, it is com-by variations in the gauge of the

use

puted.

about 25,000 tons of two rallway systems, which entails purchase almost unlimited quan- diesel oll a year on an average of the transhipping of the of attities in any of the world's mar- 30 submarines kept constantly at Przemysl.

sea..

FROM BAKU

kets, and, with the addition of Norwegian merchant tonnage, O from Baku, the chief pro-control

nearly 50 per cent. With the most. rigid economies

the world's tanker fleet, consumption of all of products ducing area as well as most ac-of might be reduced from the 1937 cessible, can be taken by pipeline more than sufficient to transport level by roughly 2,250,000 tons to to Batum and shipped to Varms all the all they require. From the 3,250,000 tons. To this must be or Constanza, 750 miles across the United States they can also ob- aviation spirit which added consumption in Austria and Black Sea; from Varna, it could be obtain Czechoslovakia, which, allowing loaded into tank cars

for a small production, was 860,- shipped at 000 tons. This might be reduced Giurgiu,

and

and tran-Rumania only produces in smail Ruschuk, opposite quantities and Russia herself im-

to be taken up the ports from the United States-and

by, say a third leaving a total oli Danube to Regensburg, a further an unlimited range of other pro- consumption for Greater Germany 1,170 miles. Or, from Constanza ducts. Germany will certainly be the highest of about 3,200,000 tons, apart from it might go by rail via Cernauti unable to obtain Occupied Poland, which is prob- and through Poland, about 950 quality aviation spirit, and even if ably self-supporting,

Den-miles. But along either of these she has suficient petrol, may well mark, where the normal consump routes it could only be forwarded be inconveniently short of diesel

from oil and lubricants. tion of 700,000 tons might be cut at the expense of "exports

Rumania.

SHORTAGES IN 1918 down by half.

Alternative routes are by rail Germany herself has 20

The position is somewhat simlar preciable crude oil production from Varna" through Bulgaria, and'

Jugoslavia, or from Batum toto that in 1918, when the Allies which started in 1858, when the first European oil-well was drilled Odessa, some 800 miles, and then were using roughly four times the Use quantity of petroleum that was at Wietze, and she can also boast a further 700 miles by rail.

ap-

of the deepest well outside the may also be made of the 1,400-available to the. Central Powers United States. Most of her ownmile waterway through the rivers Largely owing to this they had a oll comes from the old fields in Dnieper, Bug and Vistula, con- numerical superiority in the air of Hanover and from the Reitbrooknecting the Black Sea to the Bal-three to one, field near Hamburg, opened

קט

$2.60 Sinceres

Nanyang Tobacco...

437. Ch. G.5% 1925G$Bds. #30

Wm, Powells......

+Sale to Shanghai

SHOE CO.LTD.

HONGKONG SUPPLIES ALL KINDS OF FOOTWEAR

AUCTIONEERS

GREATEST COLLECTION OF BARGAINS IN TOWN!

LEMMERTS MUSEON BOONE Better", Ba

Telepre. NO 26224.

EXPORT OF TEA PROHIBITED

tic. In view of these transport Inside Germany, industrial out- in 1937. From these and other difficulties, Germany is unlikely put was crippled by shortage of smaller felde Germany should ob- to obtain more than 500,000 tons petrol and of paraffin for artificial fighting, whilst inferior lubricants tain about 750,000 tons this year of oil from Russia in 1940.

An Order published in the Gov The total available supplies this caused damage to a great deal of

Even the ernment Gazette states that the RUMANIA'S EXPORT

year, apart from substitute fuels valuable machinery. Her main internal source of sup- and stocks, therefore, amount to German railway system which in export of tea, except by licence up ply is, however, her oll-from-coal | 3,000,000 from domestic sources, the early years of the war had der the hand of the Controller" of industry, which is expected this 1,500,000 tons from Rumania, 500,- formed the backbone of her offen-Trade or an officer of his depart- year to have an output of some 1000 tons from Russia and another alve-suffered frequent breakdowns (ment on his depart, is prohibited. 2,250,000 tons, mostly of light 200.000 tons at most from Poland owing to the inadequate supply of motor fuels. Some all may be and Estonia, which exports, small high-quality lubricating oila. obtained from the Polish oilfields, quantities of shale of altogether In 1940 Germany is certainly able to conjure up sufficient oil where production in 1938 was 500,- 5,200,000 tons. 000 tons, although very little was. It is, of course, probable that for her most urgent needs, but, in

London July 19 (Reuter).. available for export.. larger quantities will become contrast to the Allies, she must

activities Tin. Standard, Cuah Middle Germany's oll imports are con- available in future years. Ger- still conduct her

within the rigid, limits imposed by Frice £285-7/8, fined to supplies from Rumania, many's own production

while geographical steadily increasing, which, from her

Im-the handicap on her supplies of Tin, Standard, & months. Middle

Price £281-5/8 +0. position, is a natural source of provenients communications of

LONDON METALS

EXCHANGE

430/

33

1000

1533

Daily Press

Hongkong Daily

CLASSIFIED ADVERTISEMENTS

BUTTERICK"

Expert Ladies' Tailor New Style Ready Made Dresses FOR SALE.

16, Wyndham Street," Tel. 23514.

FOR SALE

selection of the best varieties of

RELIABLE & UTESTED

FLOWER AND VEGETABLE SEEDS

From

Mears. Atice Burpee & Co., Messrs. Suttons & Sons, Reading, Philadelphia Messra. Arthur Yates & Co., Ltd., Sydney

The opportunity of serving you will be a "pleasure and your cominanda will have our best attention.

GRACA & CO. No. 10 Wyndham Street

0. Box 620 Hong Kong.

相囈富

ROYAL STUDIO

Art Photographer"

Excellent Enlarging & Developing

HOTELS

39, Queen's Rd. C.

Tels, 21184 & 33008.

RUSSIAN CUISINE

MORE POPULAR EVERY DAY

METROPOLE HOTEL

1940 ZENITH

NEW MODELS Just arrived NO AERIAL, NO GROUND, Just plug in and play

YEE HONG

CHUEN

54 Des Voeux Boad

AT

Jimmy's

TEA DANCES Tuesdays

Thursdays

Saturdays

. Bundays

5 to 730 p.m.

Telephone 24311.

ENGRAVERS

FEI FEI & CO. Photo Engravery. 18. Cochrane Street, Telephone No. 22224

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