HONGKONG DAILY
PRESS
Finance and Commerce
DIAMOND INDUSTRY
BRITAIN WILL BE WORLD CENTRE
LONDON, Aug. 3 (BWS-One effect ot, the German occupation
SHANGHAI IMPORTERS FAIL IN EFFORTS TO KEEP RICE
ARRIVALS SECRET ⠀⠀
EFFORTS OF SEVERAL RICE IMPORTERS TO MAINTAIN THE UTMOST SECRECY REGARDING ARRIVALS OF FRESH STOCKS OF THE CEREAL HAVE MET WITH FAILURE and prices are con- thing on the dawnward course despite all attempts to swing them the other way. It was learned by the North China Daily News on July 28,
FINANCE
CAPITAL RETURNING TO
H.K. STOCK EXCHANGE *
This week's
k
FREE CHINA
MONEY FLOWING
INTO UNOCCUPIED AREAS
Friday, August 2.
trading has been disappointing. At the commence.
The Chinese press notes with ment there were indications of the
the CHOTMOUS market becoming really animated optimism that But as is often the case there amount of Chinese capital former- lacked a heartening response from ty sent by the rich to Hongkong holders, and this led to buyers be- has now flown back to places coming apathetic. Shares are now where Chungking's influence EX- more freely available, and in spite tends. stating that it is a
good of holding out the balt of some sign that the money has gone to reduction in prices buyers are a favourable quarber owing to the sheltering from the
Colony. incessant troubled situation in the rains, anyway they are presently Overseas Chinese are also reported
ta absent from the scene of opera- to be sending money their tions. Consequently the volume of fatherland in great amounts, be. noticeably cause of the war in Europe. states the turnover has shrunk. Interim dividends have the North China Daily News. been announced by the Star Ferry!
LION'S SHARE DOMESTIC STUCKS
Co.. and the Electric Co., (Old
It is explained Shanghal stocks of domestle" rice shares only) on the same basis as
are far less last year. The former $2 payable Japanese occupation of treaty are dwindling and than ten per cent of the total rice 10th inst. and the latter $1 pay-parts such as Shanghai, Hankow
in the Settlement and able 11th prox. Adverting to last and Canton, there had been stocks French Concession. While the week's summary be it emphasised night of capital from those places result de- early crop of native rice has af these Interim dividends will be to Hongkong and as a ready been harvested, the harvest-paid without any deduction of tax Posits in Hongkong banks were increased by about $500,000,000 in Hongkong of the entire crop will not be at the source."
currency. This inished for another fortnight.
mous sum of money is back to Chinese areas and Chi- nese banks in Shanghat the latter
of Holland is that the diamond
Replenishing the rice stocks In Shanghai was the arrival Jes- cutting and polishing industry.
erday by the s.s. Mosna of Messrs. O. Thoresen & Co. of 18,000 bags which for many years has been a
of rice from Bangkok. Prevailing prices of the cereal are--com- monopoly
Amsterdam and
paratively low at present, Mr. T. K. Ho, Deputy Secretary of the Antwerp, now, for first time. has Municipal Council, stated, advising consumers to buy now, been set up in England
Ten factories are to take on
Total stocks of rice in Shanghai, as a reserve against possible future this work and the first of them today are more than 559.000 bags shortage. -and the first ever to undertake of 100 kilos each which, Mr. Hð such work in Britain-is now pointed out, should be araple for doing £120,000 worth of business focal consumption for at least two months. Imported rice is obtain- Most of the workers are skilled td from Hongkong, Saigon and refugees and the manager is an
It is estimated that 250,000 Englishman who has been living more bags of foreign rice will ár- in Antwerp since ve here in the next three weeks
vearly
and working 191
Britain, through her control of the South African SORTEEN of supply. already has the monopoly of the rough dia- mond trade"and she may now become the world centre of the whole diamond industry.
Siam.
100,000 BAGS
It was learned that part of the 100,000 bags of foreign rice ordered
arrived. The
CASSION.
BUSINESS DONE DURING THE WEEK
It, it is asserted.. The reports
that since the
â
enor-
SATURDAY, AUGUST 3, 1940. -PAGE 9
Say "BLACK
WHITETM
and
be sure!
NO TWO WAYS ABOUT IT, IT'S THE SCOTCH.
flowing MARKET REPORT
FROM ROZA, BROS.
COLLECTION OF INCOME TAX
LONDON, Aug. 2 (Reuter)
[of income tax which will be "col-
Listalment
H.K. Banks, $1,230, $1,220. Docks (New), $16. -
having received, the lion's share of The price for Ready Silver drop Australia will adopt the same me- Providents, $4.
ped 1/18 to 22.5/16 but the Forthod as Britain in the collection Hotels, $3.55, $3.40, $31.
claim that very ward rate was unchanged at 22. Lands, $331. $33.
little if any money from Hongkong 1/16. Silver advices reported lected at the source. Tramways, S316.
has been sent to the occupled the market as being quiet with China Lights Old). 567 $8.80. areas. While most of it has re-
The possibility of Do business
American done. $67.
turned to banks in Shanghai, the silver was quoted at 343/4 for payments is being investigated. China Lights (New), $3, $3.65.rest of it has been sent to impor¬ Electrics (New), $36.
Spot. tant centres in "free China," in- Telephones (Old), $23, $224.
The London/New York cross- cluding Kunming. Kwelchow, and Cements, $154. $15, $154. $151. Chungking. It is said that the rate was quoted at 402.1/2 New rich are now willing to invest York/London was quoted at 388 Sinceres. $2.15.
their money in Industrial and 1/2 Govt. 4% Loan, 102, 101, 101.
economic reconstruction in the Govt. 4% Loan, Ex. Int., 99.
interior. Govt. 31 Loan, (1934), 95.
BUYERS
Speaking of the cheap male or by local merchants upon the sustice sponsored by Mr. Yu Yah- gestion of the Municipal Councilching and other Chinese philan- and the authorities of the French thropists Mr. Ho said this began Concession, have
on. July 16, and will continue for balance of this crder should reach another eigh; days only. This rice For lack of industrial diamonds Shanghai not later than August was being sold at 36 retail rice used for turning up aeroplane 15. These importers it was learn shops in the Settlement and 24 pistons and similar precision work,ed, are not among the price boos establishments in the French Con- Germany is now badly crippled inters. her armament manufacture.
Mr. Lo said that the ruling price
PURCHASE COUPONS Britain's control of this vital rice in Shanghai is below re-
The official explained that of the expected to result in placement cost. supply is progressive deterioration of Ger- the 100,000 bags ordered by the 38 shops in the Settlement only
$15. local merchants will be stored here eighteen are actually selling rice. man guns and aircraft.
while the other shops were selling purchase coupons of a purchase value of $1 each. The sale is re-. stricted strictly to the presenta- tion of the coupons by intending nurchasers, Mr. Ho sald, going on Anyer Bollare Bates Nominal to explain that this was to obviate
overcrowding in the shops.
Conseqquqently
HONGKONG SHARE QUOTATIONS
STOCK EXCHANGE,
SHARYBROKERS' ASSOCIATION
Edyer Beller
Noahhal 1 Balow
WEDNESDAY
2 AUG. 'Banks
$1910 81920
H.K. "Banks
£65
De. (Col. Reg.)
£83
Do. (Lon. Reg.)
Chartered Banks
물산 15
40 ct.
£814/18
::
298 Mercantile Bka. "A".
£1
$73
Mercantile Riks. "C".
Bank of East Asia
N. C. & S. Panks....... Insurances
Canton Insurances.....
360 Union Insurances.......
Linderwriter angiogen
$1801.. Fires...
"Shipping
$120 Tongsen
Indo-Chinas (Prof.).......
Indo-Chinas (Def.}...}
88.90 Waterbosta
311
Steamboats
$1,00
$40
33/9
Shella
$215.
*
X.D. £36
£83
The price at which the rice is $120) being sold Mr. Ho continued. has been fixed at $40 per zah of 80 rice. kilos of imported broken When the sale of the cheap rice started Mr. Ho pointed out, the price was considerably higher than what it is today, hence many peo ple avalled themselves of the op- cheap 'portunity offered by the $350 sale.
EG 15/26 £281 £11f 873 50 ct.
4
DECLINE IN PRICE
Meanwhile the price of rice has greatly declined. Eighteen shops actually selling the rice were at first able to dispose of 50 bugs each
-
120 cts
8180
$120
$10
$100
$100
of 100 kilos each.
33/0
888
Docks, Wharves,
Godowns, etc.
$90
$31
H.K. & K. Wharvea. $80 Providents
$4
$16.401
816
#148
364) H.K, Dockų (Old)....
$10 1.K. Dorks (New)
27+Shanghai Docks......
Mining
18/0 Kailans
$9.85 Rubb
5 ct., Jong Song Minea...
Lands. Hotels and Buildings
H.K. & S. Hotels..
HK. Lands......... $100 Do. 4 Debentures..
#14,20 Shanghai Lands...
H.K. Realties..
Humphreys...
$101 Chinese Eilates.
Cotton Mills
8341 Ewu (S.)
8200 S'hai Cottons (5.)........]
131
831
$7
1929
Hotels. $3.10. Electrics (Old), $38.73. Cements. $14.50.
SELLERS
Lands, $32.75. Watsons, 38.50.
SALES
H.K. Banks. $1.180. Trams, $15.50.
China Lights (Old), $6.50. Mectrics"(Old), $37736.75. Cements, $15.
TAN KAH - KEE" IN KUNMING
KUNMINO, Aug. 2 (Central)—
The big drop in the price of this! Mr. Tan Kah Kee, the noted Chin $6.30 rice during the past week found se magnate from Singapore and the Chinese Comfort
the market price of imported - leader of broker. rice only one or two dollars Delegation from the South Seas. in Kunming from more than the price at the cheap has arrived sale. resulting in a falling off in Chungking with Mr. Chwang 81. the number of people buying the yen, deputy leader! 837 cereal at the cheap sale.
16/0
83)
$32.50
$100
$3.75
H.K. Tramwaya........................) #10;50) $15.85)
86.75
835
2200
Zoong Sings (S.)
141
Wing On Textiles (8.) 8125
Public Utilities
$18
87,80 Peak Trams (old)
83.70 Peak Trains (new)....
$67 Star Ferries..............................**
$37
021
80.70
$3,5
$36.9
$36
838
, -"་
$17
18
$21 Y'mati Ferries..
$01 China Lights (0)............. 13.80 China Lights" (New)...) $37.20|11, K, Electrics (1014).....)
11.K. Electriot New)... Macao Electrics (Old) Macho Electrics (New)
#Sandakan lights........
$22 Telephone (old).
S'pore Tractions (Ord.); y Lát
Industrials
814.90) Cald., Mag. (Ord.) 8.)
Cald., Macg. (Pref.)9.
Canton Ice..
-
Telephones (Dew)...............}
112
$143 $15 $15
Cements ....
#41
H.R. Boped....
$99
4% Loan
$95 31%
***
HE. Göri. Loans
$85 31%
Н
(1934)
(1940).... Miscellaneous
13 Dairy Farms.
$0.60 Entertaincients ......
$1.80 Constructions (old).... 數
Constructions (new)....
$7.45 Lane Crawfords..........
Nanyang Tobacco....
$2.15 Sinceres
Watsons
35. Ch: G.6% 1925G $Bd»
$30K. Wing On
S'hai Wing On ..........
Vibro Piling Maramana Inv. (Lon.) Maraman Inv. (HL) Win. Powells........... Bale to Bhanghai
98
7/8
4/0
H49
:
.
ar
Mr. Tan will proceed to Hsiakwan
It is anticipated, however, that to visit Mr. Chiang Tsai-ping, the total of 15.000 bags of import-member of the delegation who was ed broker rice sold at the cheap injured during a car mishap. He sale will be sold by the time, the will return here next" week to sale terminates.
start an inspection trip of various
As each purchaser at the cheap southwest provinces, sale can only buy one dollar's worth of the rice at a time the total number of persons buythe this rice when the sale closes would be approximately 750,000.
EMPLOYMENT · OF INDUSTRY
"Marrying Capacity And Requirements"
LONDON, Aug. 2 (Reuters The Government's new plan for the fullest employment of indus trial capacity on war requirements was explained yesterday by Mr. Harold Macmillan, Parliamentury the Ministry of $8.30 Secretary to
THE REASON
Quiet
MARKET
4
MEDICAL SUPPLIES
AND Burma Road
LONDON, Ang. 2 (Renter)---Re- plying to a question in the House of Commons, Mr. R. A, Butler said that Red Cross and medical sup plies were not within the cate- No pasiness was reported. There gories of goods passage of which
STERLING
The reason why so much capítul has returned, to Shangtial is that Chinese industrial enterprises in were sellers at 1/2.31/32 August/18 forbidden by the Burma Road.
US. DOLLARS
for
gradually rose and towards 1 p.m. A small business was done at there were possibly sellers at 392
the foreign areas have been pay-September, buyers at 1/3 Ing high interest. Chinese banks Cash. In Shanghal 'have been receiving remittances from overseas Chinese ranging between
and 23.1/8 for Cash. The several million dellars monthly.closed at 1 p.m. with sellers at the reports reveal: Large sums of 23.1716 August/September, money have been sent to Saigon, ers at 23.3/16 for Cush.
$100,000
AND BANK OF ENGLAND
WEEKLY RETURNS
market
SHANGHAI MARKET
the
buy.
but this should
not be considered
33 B Night of they have been buying. rice.
capital, because
serit there for
SHANGHAI DOLLARS Sterling opened with sellers at | 386
rate but subsequently the
Opened with sellers at 3.55/04 and closed easier at 3.53/84. UB. Dollars, opened with sellera at 8. 15/16 and closed with sellers at 5.7 for Spot..
REPORTS
July 25
£
30,270
ANE
22,880
103,960
106,280
50,970
154,930
158,530
Other
Gove
Securities
154,100
152,860
Discounts and --Advances
3,140
3,270
Securities
22,240
'21,500
Total
25,380
24.7TO
Notes and Coins
23.870
21,570
1,260
1110
607,590
609,540
Ratio of Reserve to Liabilities
12.70%
11.90%
Price of Gold at which holdings are valued
168/
188/-
LONDON, Aug. 1 (Router)
Public Deposits Other Deposits:—
Bankers ** Other Accounts
Total
Total Bullion
Notes in circulation
AFTERNOON MARKET The market was quiet in afternoon.
STERLING
The market closed with sellers at 1/2.31/32. August/Beptember buyers at 1/3 for Cash.
U. S. DOLLARS
The market closed with sellers at 23.1/16 August/September, buy- 52.270 »ers at 23.1/8 Cash.
The
BHANGHAI DOLLARS
highest rate done was 393. The market closed with sellers at 392.
SHANGHAI MARKET A
Closed with sellers of Sterling
at 3.53/64 and US Dollars at
5.27/32 for Spot.
ato
SHOE CO.LTD
HONGKONG SUPPLIES" ALL
KINDS OF FOOTWEAR
Hongkong Daily Press
CLASSIFIED ADVERTISEMENTS
糖:照
ROYAL STUDIO
Art Photographer
Excellent Enlarging & Developin
39, Queen's Rd. C.
Tels. 21184 & 33008.'-
TO LET
Best position in Kowloon, over-
Supply.
Mr. Macmillan declared that looking harbour Automatic Lift
Mr. Morrison, Minister of Supply, Modern 4 room flats, 2 bathrooms,
had
FOR SALE
requested the production servants quarters, etc. Moderate A selection of the best varieties of
FLOWER AND VEGETABLE
50 cts, council resolutely to tackle the rent, few minutes from terry, Bus RELIABLE & TESTED
whole problem of marrying the stop. Boz 436 c/o Hong Kong Industrial capacity and war re-(Daily Press or Phone 59948, quirements.”.
$1411B
$42
102
395
4
AREA BOARDS
New area boards had been, set HONGKONG
up and any individual industria-
8.20 Ust who felt his unused capacity
SHAREBROKERS
ASSOCIATION
Volume of Business Transacted on Friday, August 2.
20 $1,180.00 4.2.
1.185.00.
$19
$7
$3.26
$2.05
$81
35%
$1.85 could be employed on war Work could address himself to the area board, which should be able to secure, for any works capable of executing this, either contracts or HK. Banks, tab-contracts:
$39
$14
One of the board's duties would H.K. Tramways
:100
18.40
be to carry out a complete inspec-
4300
15.50
tion of machine tools. It would
500
14.30
also be the function of the boards HK Electa.. (0)
200
26.75
to act as controllers of war pro
duction in their areas in the event
The total value is $4728000:-
of destruction by bombing"
SEEDS
From
Messrs. Buttons & Sons, Reading. Messrs. Atlee Burpee & Co.,
**Philadelphia. Messrs. Arthur Yates & Co. Ltd., Sydney
The opportunity of serving you will be a pleamre and your commanda will have our best attention.
GRACA & CO. No. 10 Wyndham Street:
P. 0, Box $20 Hong Kong.
HOTELS
RUSSIAN CUISINE
MORE POPULAR EVERY DAY
METROPOLE HOTEL
AUCTIONEERS
GREATEST COLLECTION 201
BARGAINS IN TON
MECTION ROOM
LAMMERITS Lameery, Kather
11 Jet Chatte 1
Jimmy's
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Thursdays
Saturdays Sundays
to 739
ENGRAVERS
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