1940-07-27 — Page 9

1

HONGKONG DAILY PRESS

HONGKONG SHARE QUOTATIONS

፡፡

STOCK EXCHANGE

SHAREBROKERS' ASSOCIATION

Buyers Baller

Bales

Nominal

FRIDAY 26.

Payee

alie

Salve

Nominal

JULY.

Banks

H.K: Banks

$1200

Do. (Col. Reg.)

£68

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

128

£11

$73

*

Chartered Banke ...... Mercantile Bka, "A". Mercantile Eks. 'C".

Bank of East Asia......

$345

[50 ots.

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

$918 Cunton Insurance......|

Union Inquranees..........

Underwriters

****

$3.90

:

$90

FINANCE & GENERAL

Finance and Commerce

MONEY AND

EXCHANGE·

CLOSING QUOTATIONS

JULY 26, 1940.

On London--

Telegraphic Transfer.1/s 1/3 Bank Billa, en demand 1/9 1/8 Credita 4 months' sight 1/3 1/2

$1900

£68 £65

£11

#73

50 ot.

$218

$340

$345

30 củ

On Shanghai:-

$100 H.K, Fires.....

$160

Shipping

On Singapore:----

$120 Denglases

$120

$11

Steamboats

$10

On Japan:---

$100

Indo-Chinas (Prof.).

$100

On demand

94 1/3

$90

Indo-Chinas (Def.).....

$100

On India:-

33/0

Shelis

33/9

$6.90 | Waterbonis

$8.00

Telegraphic Transfer.

and demand

192 1/1

...

On New York:-

$16/18

$18

***

..$3,70 83.80

Godowns, etc.

$3.05

Docks, Wharves.

HK. & K. Wharves... $30 Providents

HK. Docks (Old).....!

H.K. Docks (Nsw).

#283+Shanghai Docks.

16/0 Kailans

-$9.55 Raubs

Mining

B cts. Hong Kong Mines... Lands, Hotels and Buildings

F.K. & S. Hotels.......

#33

HI.K. Lands............

$100

Do. 4% Dedentures..

87

Humphreys

10.30 Shanghai Lands.......... $3+

H.E. Realtias.

$101 Chinese Estates..

Catton Mills

Ewo (9.)

$35

$180

፡፡

' ፡

$16.60

$18

::

On demand. .....

370

On demand it...a.............. 52 3/4

Bank Bills, on demand 23 1/4 Credits, 60 days' sight 91 5/8 On Batavia;--

88 8

On demand.............. 43. 3/8 On Paris:-

Bank Billa, on demand 1083 "Credits 4 months' sight 1160

*...** 108·

$98

18/0

On Saigon:-

On demand

On Manila:

$3.80

On demand

$33

On Bangkok:--

$100

On demand

...

On Sterling Notes:-

$3.70

$6.65

Bank Buying Rate

Bar Silver per os

......... 48 1/2

Mexican Oil Industry

H.K. STOCK

EXCHANGE

Demand during the week has MEXICO CITY, July 28 (Router) been on a broad and representa- -President Cardenas has"ordered stive scale, though in the main for Labour Union leaders to carry out the lower priced issues. Supply of a drastic « réorganisation of the scrip at the outset was scanty, but Mexico petroleum industry within at the close, with the pace, having a week. A chaotic financial situa- slightly slackened, is now more rea- Won has developed in the industry dily available at current quotations since foreign ell companies were on balance gains have been expropriated two years ago.

registered, Where the reverse Reasons for this include the s the case can be .85- loss of European markets, labour cribed to a satisfied buying which demands exceeding those at the at the outset was impatient to.ac- time of expropriation, and inquire shares. This has been follow- suficient tankers even for mini-ed by profit takers efforts to avoid mum exports.

NEW CAPITAL NEEDED

to

missing the bus. Trams have de clared an interim u ou cta, the,

SATURDAY, JULY 27, 1940 --PAGE 9

Unrivalled Age and Quality "BLACK

in

& WHITE

NO IF OR MAY BE IT'S THE SCOTCH.

Kiangsu Bank Reorganised

MIGRATORY FLOW AGAINST MALAYA

In addition the Government has same as last year, payable on 14th had to sink additional capital prox. This declaration affords an amounting about 100,000,000 opportunity of allaying a misappre- pesos in the Industry in order to henston as to the incidence of local meet the maintenance costa.

War Taxation. An impression has Experienced observers declare gained crederice in summ' quarvers that in reorganising the industry that whatever profits tax Com- the number of workers must be panles may be assessed for under reduced, wages must be heavily the War Taxation Ordinance will cut and holidays shortened by be automatically deducted from all half. Workers, while expressing dividends paid from now on. This Is erroneous. The tax is not an 143 1/2 willingness to co-operate to save

. Although the tax the industry, claim that the pre-Income Tax

NORTH KIANGSU, July 25 (Cet- sent situation is entirely due to might possibly affect future divi-

dend declarations, the chances are tral)--The reorganisation of the ........ 24 3/18 incompetent management.

that the past sound financial po-Kiangsu Bank, which was one of lley pursued, generally by our Local the important banking houses be Companies, will redound to the fore the war, but suspended most benefit of shareholders. They may of its activities since the outbreak find dividends are not impaired. of hostilities, has been announced cess of departures over arrivals at

Additional capital of $6,000,000 Mulaya was 2,712.

the principal ports of entry in

has been secured by the Klangsu Provincial Government and the Ministry of Finance, and both the board and management have un dergone some changes.

1/3

#35 MARKET REPORT

$210

S'hai Cottons (S)....)

Zoong Blogs (S)

Wing On Textiles (5.) $125

Public Utilities

$10

H.K. Tramways.......................] $15.00)

$15.90

$7.40 Feak Trams" (old)...........

$3.70 Punk Trams (now)..........

$67

Star Forries..

857

$21

Y'mati Ferrios.. China Lights (0)...... 384

581

$62

$3.60 China Lights (New).. 831 H.K. Eléctrics (Old)

$37

$36

#351. K. Electrics Now)..

$35

817

Macao Electrics (Old)]

816

Macao Electrics (New)

#11

Sandakan Lights

$8.30

€22

·

$12

81

Canton Ices..

BAN

H.K. Ropes...

Telephones (old)...........

Telephones (new)............... Spors Tractions (Ord.) Industrials

814.00 Cald., Mac, (Ord.) S.

Cald., Macg (Pref.)S.

$15/15... Cements

HE. Govt. Loans

$102 4% LoaD

(1934)..

(1940)...

Miscellaneous

Dairy Farms......

Constractions (old).....

$86 34%

890

31% #

$181

#6.60 Entertainments

.81.00

81 Constructions (now)....

$7.45 Lane Crawfords............

=1

832

[30 ota.

8154

84)

805

Nanyang Tobacco... $3.30

$2.80 Sincerca

Watsons

40*/.

Ch

1024%

וי

$18.25

FROM ROŽA, BROS. Silver prices dropped yesterday to the extent of 3/16 for Ready" and 1/16, for Forward, the quota- tions being 22.3/16 and 22 respec-

Network Of Highways

YUNNAN, July 25 (Reuter)—

tively. Silver advices reported The Yunnan Highway Bureau has India as having sold to

a small mapped out a two-year project for

but quiet. American Silver quoted at 34.3/4 for Spot.

network of extent. The market was steady the completion of a

was highways In the province.

According to the project, twenty- CTOSS- two trunk and branch highways New will be. constructed next year and 395.-eight more the year after next

The London/New York rate was quoted at 402.1/2. York/London "was quoted at 1/2.

Quiet,

MARKET

STERLING

There were sellers at 1/2.31/32 July/August, buyers at 1/3 for Cash.

U.S. DOLLARS Business was done during the course of the morning ut 23.5/8) for Cash. The market closed at 1 p.m. with sellers at 23.1/2 July. 86.20 buyers at 23.5/8 for Cash. $1.80

SHANGHAI DOLLARS

2-

$2.10

$8.70 $8.75/70

140910

$30

ཝཱཝཾཝཱ ཏི

314

144

G.5% 1925G $Bds. $39 K. Wing On ......

S'hai Wing On....... Vibro Piling

8/Marsmans Ïnv. (Lox.)|

4/0 $1

Marsmana lay. (HK)

Wm. Powells..............

+Sale to Shanghai

FALLACY BEHIND HOARDING OF SILVER COINS

TRADE PACT

ANKARA, July 26 (Reuter)-The Trade Agreement signed yesterday

in

After the completion of the pro- ject the mineral resources the province will be exploited on a large-scale.

HONGKONG

SHAREBROKERS"

ASSOCIATION

Volume of Business Transacted on Friday, July 26, 1940. China Providents

BUSINESS DONE DURING THE WEEK.

Govt, 31% Loan (1934), 85. H.K. Banks $1180, $1200. China Underwriters. 50 cts. Ducks (0), $151, $16, 516). Docks, (N), $16. Providents, $3.80, $4. Hotels, $3:70, $3.60. Lands, $31, $32, $33. Trams. $15.10. "$15.45. $18. Star Ferries, $57},

Yaumati Ferries, $21.

China Lights (O), 36.70, $82, China Lights (N), $3.45. Electrics (O), $381, $37 Electrics (N), $351, $35). Telephones (O), $224, $22). Cements, $14,35, $15, $15). Dairy Farms, $18.15, 318: Watsons, $8), $8.00. $81. Constructions (0), $1,60, Constructions (N),..$1.

BUYERS

China Lights (0), $6,50. China Lights (N), $3.60. Electrica (O), $37,20, Telephones (O), $22.25.

SELLERS Cements, $15.

500

$4.05

250

4.00

794

3.65

+

50"

37.25

38.00

1,000

3.55

200

15.90

200

18.00

SALES

500

16.00

Docks (N), $16.

Union Ins

2 *350.00

Star Ferries

*200 *300 55.00

65.00

Hotels, $3.55.

H.K. Hotels

B.K Tramway's

· Business was done during the course of the morning at 383. The China Lights (N) market closed at 1 pm, with sellers HK. Electrics (0) HK, Electrics (N) at 382.1/2, buyers probably at 383.

SHANGHAI MARKET Quiet. There were sellers of Sterling for near delivery at 3.29/32 and U. S. Dollars at 5.1/8 for Spot. AFTERNOON MARKET

Quiet.

STERLING

The market closed with sellers

at 1/2.31/32 July/August, buyers at 1/3 for Cash.

U. S. DOLLARS

by Turkey and Germany provides The market closed with wellers for exchange of goods to the value at 23.1/2 July, buyers at. 23.5/8 for of £21,000,000 (Turkish).

It is pointed out in London that

A tendency noticed in Malaya recently, particularly in the small, the Ankara agreement is in har-

Cash,

SHANGHAI DOLLARS Business was done at 382.1/2.

er towns and villages, is the hoard-mony with the political undertak-The market closed with sellers at Ing of silver currency by shop-ings of the Turkish Government 382, buyers at 382.3/4. keepers. When offered a dollar which do not exclude trade rela- note in payment for, say, 50 cents' tions with Germany. worth of purchases, some shop-

SHANGHAI MARKET

The market closed with sellers

6.1/8.

Shanghai Exchange

keepers refuse to give change or ing up a stock of pure silver is very at 3.57/64 and U. 6. Dollars" at say they have no change, says the much mistaken. Malaya Tribune.

Another fact not generally known This apparently arises out of a is that five-cent, ten-cent and 20- curious fear that in some "my-cent coins are only legal tender up sterious and unexplained way the to $2 If anyone offers you silver paper currency of Malaya may de-currency in excess of $2 in pay crease in value or lose its value ment you can refuse to accept it if you wish. But Malayan paper altogether.

currency is legal tender up to any amount.

Consequently some shopkeepers are beginning to hoard silver cur-

The paper currency of Malaya is rency, in the belief that somehow every bit as reliable and stable as

or other a bag of ten-cent or 20-our aver currency, and any anop- cent pieces is safer than its equi-

keeper who hoards a bagful of valent in paper currency..

coins beneath the floor in his shop

This idea is a fallacy for two or wherever it is that shop- keepers do hide these boards-

Shanghai, July 26 (Reater),

Oficial FT. Rates

Londok

Opening 0/3-3/4

New York Japan Paris

5-7/8

... 241/4

Hongkong

20-3/4 24-7/8

Sollers

3,420 *Sales on Thursday, the 25th. inst

Sterling

Opening Closing .0/3-57/640/3-57/64′′ Spot

0/3-57/84 0/3-57/54 0/3-7/8 0/3-7/8 U.8. Dollars

July

reasons:

Aug.

Firstly, there is no conceivable would be keeping his savings in a reason why Malayan paper cur-very, much

safer manner by sc-

Spot

$6-1/8

July

6-1/8

Aug. 6-1/16

Market:Quiet, ...

reney should be devalued. It is as cumulating paper currency and safe and stable as any currency in paying it into the bank or savings

bank in the usual way. the world today."

$8-1/3 6-1/8 6-1/18...

Silver Duty Rate

The Central Bank of China's

Secondly, a silver coin in Malaya | ~ Moreover, both shopkeepers and has only a token value, just as a customers should realise that these dollar note has. In fact, it is not coins are issued for the benefit of rate on London at 10 am." today strictly correct to say that Malays the Dubile, in order to facilitate was 1/2-1/2010

has a silver currency: It is pro-trade and shopping. And they The Equalliation rate was 17) perly known as an alloy currency, should remember that if the board-per cent. which means that our five-cent, ing of silver interrupts the or-

ten-cent and 20-cent coins are dinary course of trade and be India Rupee Paper. composed of a mixture of silver comes too much of a nuisance to Bombay, July 25 (Reuter). and nickel (or some other metal), the general public, Government Gort, 31% Rupee, 89-02-0.

Actually, only about half of the may make it an offence to refuse to give change, and authorise the

content of the coin is silver..

Therefore, anyone who imagines police to search the premises of any Calcutta Exchange that by hoarding five-cent, ten-shopkeeper who persistently refuses cent or 20-cent pieces he is build to do so,

Calcutta, July 25 (Renter); TT on Japan, 84-5/87

The total value is $52,805.50.

SHOE CO. LTD.

HONGKONG BUFFLIES "ALL

KINDS OF

FOOTWEAR

INSURANCES

The National-Mutual. Life Association of AustralasiaWolfges you the best conditions for a fund for old age, and your family in case of your death. Annuities and educational policime sce also issued. Izmura now."Office :—–—–5, Des Voeux El Gas (5th Book Boost No. 66), Bank of Carton Build ing, Hongkong

Besides Secretary, Tel. No. 27478.

H. B. WELLS.

POSTMIONS VACANT

WANTED-Experienced proof

Providents, $4.

Trams, $18.

China Lights (N), $3.60. Electrics (0), $37.25. Electrics (N), $38. Cements, $15,25, Dairy Farms, $18.29

here,

For the first time for some years, the migratory flow W3.5 against Malaya in 1939, according to the annual report of the Im

migration Department,

The, xx-

In 1937 and 1938 the excess of arrival over departures was 207,- 206 and 31,018 respectively. The excess of arrivals of Chinese deck passengers from China was 9,502, The new board la served by many as compared with an excess of prominent bankers, among them 50,545 in 1938 and 178,802 in 1937. Mr. Hsi Teh-mou, manager of the

The net gain in Chinese males Banking Department of the Centravelling from and to China was tral Bank of China, Mr. YM. Chlen. 2,281 as compared with 4.455 in. Chairman of the Bank of Com-1938 and 85,749 in 1939, munications, Mr. K. P, Chen Gen-

"One hundred and Afty-three eral Manager of the Shanghal Jewish refugees were admitted to Commercial and Savings Bank, General Mr. Tang Shou-ming,

Malaya, from from Czechoslovakia.

Germany and 13.

Manager of the Bank of Com- In September, a European Police munications, and Mr. Chen Tuan.omeer was posted at Kroh in former assitant manager of the Upper Perak to control immigra- Treasury Department of the Cen-tion from Siam,

tral Bank of China.

Upon the outbreak of war, ofi- Mr. Kwan Chi-yu is the new cers of this department were given chairman of the board, and Mr. | powers under the defence regula- Hsu Pac-ying the new general- tions to control the departure manager.

from Malaya of British subjects

The reorganisation scheme, it is and aliens. In addition the De- revealed, was worked out after fence (Finance) Regulations are lengthy discussions between the similarly enforced by the Depart- Kiangsu Provincial Government ment and representatives of the Finance Ministry.

The reorganised bank will pay particular attention to the finan- cing of wartime reconstruction in the Kiangsu province,

Watsons, $8.70.

H.K. Gort. 3% Loan, 95.

Hongkong Daily Press

CLASSIFIED ADVERTISEMENTS

FOR SALE

A selection of the best varieties of

RELIABLE & TESTEDİ FLOWER AND VEGETABLE SEEDS

From

Messrs. Suttons & Sons, Reading. Messrs. Atlee Burpee & Co.,

Philadelpļús ( Manager, Hong Mears. Arthur Yates & Co., Ltd.,

Sydney Kong Daily Press, Marina House.

restier-Apply

415

LONDON METALS

EXCHANGE London July 25 (Reuter),

Standard, Cash, Middle

Standard, 3 months, Middle

Price, £266-7/8.

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

GRACA & CO.

10 Wyndham Street

Box 820 Hong Kong,

DEFENCE BONDS ISSUE

BOMBAY, July 28 (Reuter)-The announcement for a fresh unli- mited issue of the six-year three per cent. Defence Bonds, is well received here.

An all round rise in long-term loans will be followed,

相

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Art Photographer

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Thursdays

Saturday's Sundays

3 to 130 p.m.

ENGRAVERS

FEI FEI & CO. Photo Engravers 18, Cochrane Etreet, Telephone NO. 22224,

Jimmy's