1940-09-18 — Page 9

HONGKONG DAILY PRESS

'

Finance and Commerce

Increase In Canadian Hydro-Electric Output

The output of central hydro-electrio stations in Canada continues to increase. In June, 1940, 2,336,781,000 kilowatt hours were generat- ed, compared "with 2,209,398,000 kilowatt hours in June, 1939, an in- crease of 327,386,000. Exports of Canadian stations. bo the United

States in June reached 190,704.000 kilowatt hours, or 6.356,800 kilo- watt-hours per day, being the highest daily average exported · to

date.

CEYLON'S INDUSTRIAL FUTURE

There was no question at all that Ceylon had a great industrial

FINANCE & GENERAL

U.S. Defence Plans Move, But Industrial Expansion Still Hesitant

The defense programme of the United States moved forward last week, but in some respects at the same halting pace which has marked its progress so far, writes Louls F. Keemle, United Press Analyst, in the Manila Bulletin of Sept. 10.

In production of sirplanes, arma-industry hesitated over plant expansion to meet current and future needs, the drag was still on the brakes.

WEDNESDAY, SEPTEMBER 18, 1940. -PAGE 9

"In the matter of production, In-]velopment during the week was future, said Mr. G. C. S. Corea,dustry hesitated over plant ex-the dispute over compulsory con- Minister of Labour, Industry and

pansion, pending a guarantee" inscription. It was hotly debated In Commerce, in the course

of the matter of profits and under-congress and in the press. A sur- lecture on "Industrial Develop writing the cost of expansion. vey of newspaper editorials and ment in Ceylon," at a meeting of

PLANS FOR COST⠀

letters to the editor showed a pre- Water-power in Canada ranks as cal; and "electro-metallurgical in-the Vevekananda Society. HO

While Congress mulled over the ponderant sentiment in favour of one of the chlef natural resources. {dustries, as well as millions of Street, Colombo.

matter. the National Defense conscription.. and its development has contri-households throughout the Dom-

Commission proposed a plan under The argument most frequently buted to the industrial expansion inton:

which the Federal Government advanced was that volunteer en- would reimburse private industry Hstment penalized patriotism and for costs of emergency plant con-left slackers free. On the other struction over a period of five side. It was argued that conscrip

tion in peacetline' Is undemocratic years.

of the Dominion. Favourably dis) tributed, these water-power re- sources are capable of supporting

a development of about 44,000,000

horse-power.

As the present development of 8,290,000 horse-power comprises

H.K. STOCK EXCHANGE

Mr. Corea deplored nasty criti- cism. In and out of season" which gave the sceptical mind of the people of the country a seemingly good basis for their doubts,

After reviewing the machinery which the Ministry had set in The plan provides that if private and that a sufficient army could motion to usher in the new in-interests want to continue operat-be raised by enlistments. The market remains under the dustrial era." Mr. Cores concluded ing the plants after the five-year

by appealing for "less scepticism period, they would and more confidence" from the government for its equity. Other- public of Ceylan,

wise the Government would take title to the expanded part of the plants, with necessary financial readjustments.

only about 19 per cent. of the total cloud of neglect. resources, ample reserves of un- 'developed energy await new uses.

More than 98 per cent. of all electricity generated for sale is produced from hydro-electric sta- tlons, and networks of high ten- slon transmission systems dis- tribute this energy to virtually every important centre of popula- tion and industry throughout the Dominion.

To date, approximately $1,665.- 000,000 has been invested in water- power development and the at- tendant transmission and distribu- tion facilities.

Benefiting from this low-cost) power produced by hydro-electris stations are Canada's great pulp and paper, mining, electro-chemi-

BUYERS

H.K. Banks. $1290. HK Fire Ins.. $150. Prov ccnts, $4.10 Hotels, 37.40, Látus, $30.29 Huniphreys, $7.

rams. $15.70. China Lights (0), 34.75 Electrics (), $37.25, Telephones (0), $23,50.

SELLERS

Wharves, "$24. Hotels $3.55. Trams, $18.

SALES Wharves, $92. Docks (O), $16.80.

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGE

SHAREBROKERS' ASSOCIATION

#

Bayero

Bellors

Balor

Nominal

TUES AY 17 SEPT..

#192

-8150

8131

£79

£07

X.D. £68

27

11 1/10

$79.

IN

}

$4

$17

$16.85

::

$301

$7

$14.20

823)

$94

Banks

H.K. Banka ...................................

Do.. (Col. Reg.)

Do. (Lon. Reg.)

Chartered Banks......

Mercantile Bka, “A”.

Mercantile Bks. "C"

Bank of East-Aziarım

N. C. & 8. Banks...... Insurances

Canton Insurances..............

Union Insurances............. Underwriters

HK.. Fires......

$120 Douglases

Steamboats

$100, Indo-Chinas (Pref.)...

Indo-Chinas (Def.)....

8105

$11

Shipping

Baytr

Bollar

01:11

Mr. S. Natesan, who presided. paid a tribute to Mr.. Corea and said that as a Minister his vision and capacity for work were em- Inently suitable to the "great task" before him.

repay the

ARMY OF 4,000,000 NEEDED

Yet General Marshall, chief of the general staff, 'told con- Kress that we need an army of 4,000,000 men to defend this continent, but that not more than 1,200,000 can be raised in the immediate future. There was a strong addition to

Expansion loans went ahead. Jesse Jones, federal loan adminis- trator, announced that loans had the army in the action of congress | "... been granted to the extent of authorizing the President to mobi ECONOMY SAVINGS |$78,500,000 to the Boeing Aircraft lize the national guard and or- Co., the Bendix Aviation Corp. and ganized reserves for a year's train- the Curtiss-Wright Co. The loans ing. That would call up 395,000 supplemented $92.000.000 already men.

CONTEST

CHUNGKING, Sept. 17 (Central) -A nationwide economy savines contest will be started under the auspices of the National Economy Savings Promotion Association to- morrow, the 9th anniversary of the Mukden Incident, and will last until January 28, next year, the 8th anniversary of the Sino- Japanese hostilities in Shanghai

The contest will be divided into two sections, namely, individual and group. Prizes will be award- Salsominated to any individual or group re-

g'stering

savings.

!!

$1305

£72

£67

£61

EZBA

£11 1/16

$75

50 ct.

granted to the Wright Aeronau- The President at the same time, tical Corp. for a huge production asked congress for more speed in plant in Ohio.

legislation. He pointed out that congress has had the conscription bill for two months, and that un- less it is passed within the next two weeks, the equipment which the factories will be pouring out this fall will be useless, without de-men to use it.

SHIPMENTS TO BRITAIN At the same time the state department revealed that planes $9,497,123" in military were shipped to Britain during July, and $1,227,487 to Canada. The other main defense

Unrivalled Quality BLACK

Age and

in

& WHITE

ཕོས།།་

YOUR FIRST SIP TELLS, YOU IT'S THE SCOTCH.

ITALY'S NAVY IS NOT SO FAST AS IT CLAIMS TO BE

Is Massolini's navy as fast as it claims to be? asks Evening Standard reporter.

Speed is supposed to be one of the great assets of the Ita- lian fleet. The new battleships, Littorio Veneto, `are credited with 30 knots; the rebuilt Cavour class ships with 27 knots. The "paper speed" of iḥe, British battleships Rodney and. Nelson is only 23 knots, the reporter writes.

But British shipbuilders belleve that the Italian estimates of speed are misleading. Italian warships.

IS BRITAIN'S commonly run their trials "light"

AMERICA the largest amount of

ABSOLUTE ALLY, SAYS

MARKET REPORT

FROM ROZA BROS.

The price for Ready Silver drop- ped 1/16 yesterday to 23.3/8 but the Forward rate rose 1/16 to 23. 5/18, Silver advices, reported, the market as being steady but quiet. American Silver, was quoted at 34. 8150 3/4 for Spot.

H

$190 $400

call paid

w

-before they have been

fitted

•

Now she is not reckoned to do more than 40.

OVER-AGE VESSELS Another thing to be remember-

"Britain knows this, and counts with their guns or other equiped is obtained partly by sacrificing on it The Axis Powers know it ment. This adds, substantially to armour. The battleships carried armour several inches thinner and practically assert it.

their trial speed.

than ships, of the same class in “PEACE “OBTAINABLE”

Some authorities put the dis- the British and French Navies. "They declare with definiteness crepan at Httle more than one

Apart from the Littorio and that peace would be obtainable knot, some as high as three knots. Vittorio Veneto, which took six

HEARST today except for the confidence British warships, on the other years to build, the Italian battle

NEW YORK.Hegretfully, but Britain possesses because of the hand, are frequently found in ac-fleet will for some time yet consist

Randolph possible commitment of the United tual service to develop a slightly of over-age vessels. positively, William

higher speed than on trials.

The majority of Italy's 1.160 Hearst. diehard Isolationist and States.

"Therefore," in estimating the sincere pacifist, has decided that

Early last year a Leghorn ship-merchant ships are also old, es- The London-New York cross-America will certainly enter Great forces aligned on each side an ac-

Consider yard delivered to the Soviet navy pecially her large tramp fleet. observer must rate was quoted at 402.1/2. New War No. 2 on the side of England, curate

the United States as an absolute its most modern ship, the Tash- to C.V.R. Thompson, ally of Britain" according York/London was quoted at 404.

kent, a 3,000-ton ship, something Daily Express Staff Reporter.

From this point. Hearst develops between a light cruiser and a des In a daily column syndicated to his group of papers, Mr. Hearst the argument that the war will troyer.

reach and stay at "stalemate,” describes America's" attitude, There were sellers at 1/3 forward England today as exactly and that the eventual winner of near and forward," buyers at 1/3. analagous to Italy's toward Ger- Great War-No. 2 must be Soviet |1/32′ for Cash.

many before Mussolini entered the Russia.

3120

,,$10

8100

MARKET

$100

Steady but "quiet.

30/0

86.90

STERLING

$80

30/3

Shells...

80.00 Waterboats

Docks, Wharves,

Godowns, etc.

H.K. & K. Wharves... Providents.

291

8405

II.K. Docka (Old)....! 818)

816 HK. Docks "(New)..... #16.15

+Bhanghai Dock.......

$35

Kailas

Mining

Hong Kong Mines....... Lands. Hotels and Bulidings

15/0

$9.65 Raubs

1 cts.

$3.65

FIR

II.K. & B. Hotels........

H.K. Landa...................

Debentures....

$100 Du. 4

Shanghai Lands.........

$3.40 K. Realties....

$107

841 8182

Humphreys an Chinese Estates... ...Cotton Mills

Ewo (S.)....mazionira S'hai Cottons (B).... Zoong Sings (8.)....... Wing On Textiles (5.))

Public Utilities.

II.K. Tramways....................... 40 Peak Trams (old).....

$3.70 Peak Trams (now)....

Star Ferrics.

$8.15

:::

$331

18/0

$3.65

#301

$100

་

U.S. DOLLARS

war.

to-

Hearst is not moved by the new

The market opened uncertain with sellers at (22.1/4 at which wave of pro-British enthusiasm rate a small business was reported that is sweeping the United States followed. by transactions at 22. In making this prediction.

5/16 for mear, 22.3/8 and 22.7/16

for near and forward. The market

HEARST'S ATTITUDE

He is not making his statement

closed at lunch time with sellers in the same spirit as the first at 22,3/8 for near and 227/16 night audience of March of Time's picture. "The November, buyers at 22.7/16 for first Cash and 22.1/2 November.

SHANGHAI DOLLARS" Business was done early in the morning at 419 followed by tran-: suctions later 25 420 and 421.1/2. | #39 The market closed with sellers at #10421, buyers at 421.1/2...

BIRK

$15.70

84

$60

$213

Y'mati Ferries

$22

Chins Lights (0)... $6.80

$4

$37

Chisa Lights (New)... $3.00

$37 H.K. Flectrica (Oldi.

137 |H, K. Klectrical Now).....} #37

$17

$16

Macao Electrics (Old))

Macao Electrics (New) Sandakan Light...... Telephones (old)........ Telephones - (new)...... S'pore. Tractions Oril), Industrials

| $14.90] Cad., Mang. (Ord.) 8.

$12

Cald., Macg (Pref.)S.

#1.

Canton Ices..... 50 ota.

$1B

Cemente una

$16

#51

HK. Ropes

851

H.K. Gort. Loans

$9064% Loan ...

100

$95

895 131%

· (1934) ........ (1040).... Miscellaneous

805

8181

Dairy Farm

Entertainments

$1.80 | Constractiloni (old)....

Constructions (new)...

$7,45 Lane Crawfords.........

Nanyang Tobacco.....

12.15 Sinceres

Watson ..

CL 0:5% 1925G $Bdá.

H.K. Wing On..............

S'hai' Wing Da'

Viaro Pilinga Maramans Inv. (Lon,)

Mastana Lov (H.K.)

W Powells

Bale to Shanghai h

35%

Ban

8/0

*4/0

Jes

814

$6.66

པོ

SHANGHAI MARKET Sterling opened with sellers at 3.39/84 and closed easier at 3.37/64 for. Spot. US. Dollars opened with sellers at 5.5/16 for Spot and closed at 5.9/32 for Spot.

Quiet.

MARKET

STERLING

The market closed with sellers at 1/3..for near and forward," buyers at, 1/3.1/32. for Cash,

U.S. DOLLARS

The market closed with sellers

1 at: 22.3/8 for near and 22.7/18 end of October, buyers at 227/16 for: Cash and 22.1/2 November."

SHANGHAI DOLLARS

The market closed with sellers st. 423 for Spot,

SHANGHAI MARKET

Sterling closed with sellers at 3.9/18 for Spot and U.S. Dollar was unchanged at 5.8/32 for Spot.

$1.88 HONGKONG

SHAREBROKERS

ASSOCIATION

Volume of Business Transsoted

$9.20

+19

30%

$39.

#14

on Tuesday, Sept. 17, 1940. Entertainments

FI.K. Wharves

full-length Ramparts We Watch"

In dignified Washington the audience cheered 'wildly a pic...“ ture of Churchüt and bissed Hitler and Mussolini. Hearst's attitude is more one of resignation to the doom of his policy of Isolation;

He begins by. expressing' a wish; that the Pope's efforts to obtain peace could succeed...

PREPARING FOR WAR

On her trials she reached the great speed of 45.8 knots- a world record. But that was, before her guns

were fitted.

The total value of building per- 'ts issued in June by 158 mani- " elpalities in Canada was $9,425,773. In May, permits issued by 198 municipalities amounted to a total value of $13,809,696.

PRE-PAID ADVERTISEMENTS.

The following classes of advertisements are charged at the price given below SITUATIONS VACANT. HOUSES AND APARTMENTS WANTED.

HOUSES AND APARTMENTS TO BE LET. MISCELLANEOUS WANTS.

Announcements not exceeding 25 Words are inserted under this heading at a Pre-paid Bate of $1.50 for THREE INSERTIONS. If Charges collected, 82.00.

WANTED KNOWN

That "WE" have an outstand- ing assortment of latest American dresses for all occasions and price Then he declares his doubt that to suit all purses. Call at: "Vanity the Nazis could ever land a force Shop" (Lazarus) Pedder Street.

in England large enough to escape

Annihilation.

He goes on "The entry of

the United States into war may

Experienced Book-keeper wants

be considered more than a pro-Students to form a class. Guaran bability. In fact it may be set tee students to keep a whole set of books after_completion of a course down as a certainty,

"It is obvious to the most of 6 months. For. Term and Par- casual observer that the United ticulars. Please Apply to: Box

No. 482

States is preparing, not merely for defence, but for war.ANDA

"At the present time the United States can give "more effective aid to Britain by stay- Ing out of the war than by enter- ing it, but within a year the

c/o HKDP.

WANTED TO BUY

HOTELS

RUSSIAN CUISINE

MORE POPULAR EVERY DAY

METROPOLE HOTEL

FOR SALE

For Sale Fifty sets of Jubilee and Coronation Stamps 1st day Cover. What offer? Please apply to Box No, 485_c/o The HKDE.

A FOR SALE

A selection of the best varieties of

WE OFFER HIGH PRICES for RELIABLE & TESTED

articles.

United States will be in a posi- any amount of gold tion to Join the British Empire diamonds, jades, etc. No holidays. in effective warfare and will Apply Chins Buliding, 7th floor. doubtless do so.

Tel. 30727. Eurasia Gold Refining Co.

።

LONDON STOCK

EXCHANGE

FLOWER AND VEGETABLE SEEDS

From

Messrs. Suttons & Bona, Reading Messrs. Atlee Burgen & Co., Philadelphia

Wo pay high pelees for all Gold Messrs. Arthur Yates & Co. Ltd. & Bilver articles, Diamonds," Jade

LONDON Sept: 17 (Reuter) The undertone in the Stock Exchange and Gold dust, Apply China Gold Refining Co.. Pedder Building, 2od was steady despite the quietness

floor, Room 8. of trading. Movements in most pr 600 $6.65 groups were within a narrow range 6.55 but Triplex Safety Glass advanced 2192.00 sharply for 13804 to 17% ed. Wanted to Buy 2nd Hand Type- from the dividend on view. The re-writer In Good Condition. Please cent big decline was excessive apply to Box No. 464 e/o The

Wall Street was very firm

62

683

The total value is $8.128.10.

HKDP:

Bydney

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

GRACA & CO.

No. 10 Wyndham Street F. 0. Bər 620 Hong Kong.

TEA DANCES “Tuesdays....

Thursdays

"Baturdays

Sundays

.5 to 7.30 p.m.

ENGRAVERS

FEI FEI & CO. Photo Engravers

"18, Cochrane Street, Telephone No. 22224,

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