1940-10-07 — Page 9

HONGKONG DAILY PRESS

Finance and Commerce

BRITISH EXPORT |

INDUSTRY

HK. STOCK EXCHANGE

Today's short session was limited

LONDON MONEY MARKET

GOODS DELIVERED with prices matched at lower Ample Funds To Meet

DESPITE RAIDS

(Reuter)

to small sales in Lands and Trams

rates. It is reported that two more dividends are declared in the

LONDON, Oct. 5

Mantia Gold Issues IX L...02 Despite day and night raids, Lon- centavos and Paracale Guimaus .005 don's export Industry is still de- centavos.

vering the goods.

Even in the most heavily bomb- ed-areas, works that have been hit quickly adapted themselves to front-line operation and arrange, ments have been made for pro- duction to continue, Say's the Board of Trade,

Actually, Uttle serious damage has been done to factories. An 18- sociation of 600 works in London say that less than 1 per cent. have suffered damage.

The London Chamber of Com- merce, representing some 9,000 firms, says that it has been noti- ed by less than 20 of a need to move to temporary addresses

SOVIET-GERMAN AGREEMENT

BUYERS

Lands, $30.25. Entertainments, $8.80.

SELLERS

Trama $15.80. Star Ferries, $59.50 Electrics (0), $37,50. Cements, $15.80 Watsons, $8.75. Vibro Piling. $3.

SALES

Lands, $30,50. Trams. $15.75/55. Electrics (O), $37.

HONGKONG

SHAREBROKERS

ASSOCIATION

Volume of Business Transacted on Saturday, Oct. 5, 1940. SALES

ני

H.K. Lands

50 $30.50 The total value is $1.525.00.

MOSCOW, Oct. 5 (Reuter)—It is! "revealed that an agreement on railway communications between Soviet Russia. and Germany pro- viding for direct freight and pas- senger traffic between the two countries, was signed in Berlin on que adds that the negotiations October 1,

were conducted in a friendly at The official Moscow communi-mosphere.

HONGKONG SHARE QUOTATIONS

#200

::

--

$400

Варет Sellers

All Requirements

LONDON; Oct. 6

ม่

(Reuter)

FINANCE & GENERAL

$60 MILLION PER DAY:

GERMANY SPENDING TWICE AS MUCH AS BRITAIN

BERLIN'S ESTIMATE THAT THE - WAR 1§. COSTING THE GERMANS 360,000,000 DAILY means that the Germans are pay- ing approximately twice as much as the British to carry out the conflict, writes J. W. T. Mason, United Press Military Expert, In the Manila Bulletin. Figures announced in Landon in July when "the" budget was introduced in Commons showed that war expen=”

ditures had then risen to $32,000,000 per day.

The German population, however, is twice as large as Bri- tain's so the per capita war cost is about the same for each bel-.. ligerent

The nearest Ita-

In the Money Market, funds con- can continue these enormous ex-an base in Africa is more than

How long Britain and Germany į Mediterranean.

tinued ample and to meet all re-penditures has a bearing on the 500 miles from Italy. quirements throughout the week eventual outcome of the war. The While the British navy is su despite reduction of bankers, de- limit of costs has not yet been powerful in the Mediterranean. posits together with continued reached by either side. Added where its' strength recently has Treasury borrowing from joint war expenses are seemingly as been doubled, it would be a most stock of Scottish banks, the latest inevitable for Germany as for precarious undertaking for the Bank of England return revealed. Britain

Germans to ferry an effective force from Italy to north Africa. The present British tax rate] The chances of success would be being lower than the German. remote, and it is doubtful whether proportionate to expenses,

the German high command would the British a nancial advantage willingly take the risk,

CHANCES OF FAILURE hence the market syndicate re- have a larger reserve in this res German attack is by way of Spain

war costs rise: The British

The third possible direction, of celved 42 per cent, of the applica-pect from which to draw.

The whole of the £85,000,000 Treasury bills offered were allott-

ed at an average rate of £109.

4.63d. per cent.

Competition was rather less keen for bills that mature in January.

tions which was considered satis- factory.

Wall Street closed steady."

CONGO RESOURCES

FOR BRITAIN

£5

BRITISH TAX RATE

gives

the

The borrowing capcity has not for the purpose of capturing reached the limit on either side:Gibralter and wresting the con- but for Germany, excessive bor- trol of the Atlantic entrance to

the Mediterranean from rowing carries the people's memo- after the last war, when the Ger- connivance at a time when Spam ries back to the inflationary period British. This task requires Spanish 13.3.1 mark eventually become has not as yet recovered from ex- worthless.

[baustion" resulting from the civil war, and is looking to England for loans to make essential purchases abroad.

H

NEW YORK, Oct. (Reuter)

BRITAIN FINANCIALLY Belgium will defend the Congo it

STRONGER it is attacked by the Germans and Italians, declared M. Franz strength is much greater

general, Britain's financial than van. Cauwelaert, president of the Germany's so the risk of dangerous Belgian Chamber, in a newspaper inflation is far less. The British interview here yesterday.

empire's aggregate gold reserve is He added that in the meantime not definitely known; but it must the resources of the Congo have be dve times that of Germany. been placed at the disposal

of The per-capita wealth of Britain Britain.

far exceeds Germany's, allowing stronger borrowing power,

BANK NOTES IN CIRCULATION

On the other hand. German conquests on the European con- tinent permit economies not open to the British. The entire · Ger-

'If Generalissimo Francisco Franco allowed Germany

to

MONDAY, OCTOBER 7, 1940. —PAGE 9

SAY

Gordon's

and know what you're drinking/

GORDONS

DRY GIN

DISTILLER LONDON

NO COLOURING matter

NO INJURIOUS INGREDIENTS

U.S. TAKING

NO CHANCES

use Spanish territory for air Destroyers In Europe

operation against

Gibraltar,

the British blockade would cut off food and oil supplies to Spain, endangering the stabi-

Franco lity of the

regime. Spain already is on a ration food "basis, and starvation might lead to a Communist uprising.

Withdrawn

WASHINGTON, Oct. 5. (Reuter) in

-United States

destroyers

SZECHWAN TUNG OIL INDUSTRY

Plantations To Be Improved

- CHENOTU, Oct. 4 (Central)—–—–

European waters are to be with- The Szechwan Provincial Govern- drawn in order to save them fromment has organised a Tung" Of being mistaken" for the destroyers Industry Commission to improve

the tung oll industry in the pro- - recently handed over to Britain.

vince. This, it appears, is behind the

Any "choice of a new German SHAREBROKERS' ASSOCIATION

It is planned that within · Eve Returns of the Average Amount man army in occupied French ter-thus faces grave possibilities of

offensive, wherever it is made, announcement by the Navy De-

that partment

the European years, 450,000 mow of new tung Bales oma of Bank. Notes in Circulation in ritory is supported by the French failure.

Yet Chancellor Hitler squadron of the US. Fleet has plantations will be established; Hongkong, during the month ended | government. Germany too has been cannot afford to sit back idly and been abolished and that vessels of bringing the total area of Sze. Sept. 30, 1940, as certified by the able to purchase food and material allow the initiative to pass into the squadron will be assigned to chwan's tung plantations Managers of the respective Banks in Europe at low prices, made com British hands, as British airplane the Atlantic Fleet. Chartered Bank of In-

pulsory because the occupied ter-output with American

$1

Mercantile Bk. "A".

Mercantile Eki. "C".

Bank of East Asia...

N. C. & Banks...

Insurances

Canton InsuTEACES,........... Union Insurances.................

Underwriters.........

$150 H.K. Fires....

********

STOCK EXCHANGE,

Hayari Bellera Bater

Kowical

SATURDAY 5 OCT.

Banks

$1305 H.K. Banks

813031

***

E71

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

£71

£64

De. (Lon. Reg.)...

£64

£81

Chartered Banks ......

£67

dia, Australia and Chine

26

£281

$26,837,512

E10

£10

Hongkong and Shang-

$72

$79

30 et

$190 $405/400 ...

hai Banking Cor- përation Mercantile Bank of In-

dia. Limited

200,057.228

$1 8150

Total

4,475,110

$231,189,850 SECURITIES LODGED

$1.20

$10

$100

$100

33/0

$8.00

***

$91

$435 $4.86 4.30.

$164

#16

$33

40/0

Shipping

$120 DouglassS

$11. Steamboats

391

$4.30

$16

$162

[14/0

$31

་་

1.::

$8.

$3.46

$30.85

3100

$7

$42

$200

$125

$100 Indo-Chinas (Prof.).....

$80 Indo-China (Def‚) ........

35/0 Shell's

$8.90 Waterboats

Docks, WharTES,

Godowns, etc.

H.K. & K. Wharven......... Providents....

H.K. Docks (Old).... H.K. Docks (New)...........]

$343+Shanghai Dock........

Mining

Kailana

$91 Raubs.

1ots. Hong Kong Mines.......

Lands Hotels and

Buildings

H.K&& Holais........

$30.85.K. Lands......

$100 Do. $% Debentures....

11 Shanghai Landa..... $3.60 HK Realties.

$7.10 Humphreys $1011 Chinese Estates,

Cotton Mills

$43Ewo (8.) $181

S'hai Cottons (8.)..... Zoong Sings (B)...........-. Wing On Textiles (S.) Public Utilities

$30 $31

$1580 $15.80 $16.66 (75. --- H.K; Tramways....................... $15.80

$7.40 Peak Trama (old)...

3.70 Peak Trams (new).....

Star Ferries....

Y'mati Ferries...

China Lights (0).....

$0.60 China. Lights (New)...

HK Electrica ('Oldi... $38

H. R. Electrics 'New)... $20

Macao Electrica (Old)

Macao Electrics (New}} Sandakan Lights........ Telephones (old)... Telephones (new)....... S'pore Tractions (Ord.). Industrials

$14.00 Cald., Macg. (Ord.) B.

$224

€93

$37)

#37

EST

317

18

11

$23

$10

Cantón Ics................... Comente

$6.80 1.K. Ropes

· HK.- Gört. Losza

(1934)

0221

UDAL

#

sdditions

to

|1,970,000 mow and the total pro- It is understood that the cruiser duction of tang all to 1,400,000 ritories are so largely shut off from will gradually give Britain air Omaha and the destroyers Barry picula as against the present 700,- their former foreign markets.

Nevertheless, on the balance, Britain has

superiority. }

and Goff, which were in Portu-1000 plculs.... Hitler is guese waters, will be replaced by a Meanwhile, existing tung-plan- The problem- before

|coast-guard,cutter.

tations in the province will be im already disquieting and will grow

proved and production increased. more so as the winter comes.

The Ministries of Finance, and

appropriated more than $1,000,000 for the promotion of the tung all industry in Szechwan, Hupeh, Hunan. Kwangst and other pro-

LORD MAYOR'S Economic Affairs recently jointly

DONATIONS FROM CHINA LONDON, Oct. 5 (Reuter)

FUND

greater staying power financially. If the war la se lengthened as to become" a struggle to avoid disastrous inflation, the British have. a heavy advantage over their energy.

MAY SHIFT WAR

LONDON, Oct. 5 (Reuter) The following statement of the As the German offensive against received from British

Gifts totalling £10,000 have been The Lord Mayor's Fund for the securities logged with the Crown Great Britain has

coinmuni- relief of air-raid victims has now apparently Agents by the Mercantile Bank of reached a deadlock, it is reason-ties in China for the purchase of topped the £1,000,000 mark, the India, Limited, against their notes able to believe reports from Berlin planes and a second donation of latest donations being £25,000 in circulation, is published for gen- and Rome that the discussions people in British North Borneo, as with other gifts from New Guinea has been increased by £18,000 to

Australia, together eral information under Section 5 during the week end between well as £7,000 from Uruguay..

of the Mercantile Bank Note Issue Nazi Foreign Minister Ordinance, 1911, (Ordinance No. 65 | von of 1911):

Security, 3% Conversion Loan re- payable 1948/1953, Amount £240,- 000, Latest market price' 99-100.

WEATHER REPORT

10 am, Oct. 6. Barometer, (at sen level), 29.07 ins. Temperature, 83 F.

Humidity, 74, per cent.

B

Wind Direction, ESE, Wind Force (Beaufort), 2, Temperature; maximum yesterday.

95°F.

Temperature; minimum last night,

77 F.

Joachim Ribbentrop and Premier Benito Mussolini relate in part to plans to attack elsewhere,

It is difficult, however, from the military standpoint, to understand where Germany can strike anew with fair Hope of success. It is hard in warfare to change the strategy of campaign, especially so when the major objective to be gained has to be altered as now seems to be the case.

Reports from totalitarian capitals point to a shift in offensive at least for the time being from Britain to the Mediterranean

Africa.

and north

£5000 has been received from from South

14.

and Egypt.

vinces.

The Mayor's Red Cross Fund

£3.229.000

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 Rate of $1.50 for THREE INSERTIONS. If Charges collected, 82.00.

WANTED TO BUY

WE OFFER HIGH PRICES for The first of three possible move-any amount of gold articles.

Rainfall for 24 hrs, ending 10thments is through the Balkans into diamonds, silver, etc. No holidays. Turkey for the purpose of moving Apply Chins Building, 7th floor. today, nil. Intal rainfall since January ist against the Suez Canal, Egypt Tal. 30127. Eurasia Gold Redning

Palestine. This operation Co. the danger of embroiling. Russian interests in the Balkans:

$8

$4

309;

112.72 ins... Against an average of, 79,23 ins. Sunset tonight, 6.06, p.m. Sunrise tomorrow. 6.16 am...

"

and runis

$64

$8,60

$10

4 p.m., Oct. 8. Barometer (at sea level). 29.87 ins Temperature, 80 F Humidity, 77 per cent.

Wind Direction, E/S. Wind Force (Beaufort), 4. Maximum temperature, 86 F. Minimum temperature," T F Rainfal, ni

HONG KONG TIDE TABLE From 7 to 13 Oct. 1940.

Data o

Mouth

• Mirod

LOW WATER

Flong

Kong

Standard

Height.

Cald, Macg. (Pref.)S.

$1

150 ota.]

$15.60

#16

$98

14% Loan

$5.80

100%

HIGH WATER.

$85 31%

$95

Hong

$96

181%.... -(1940)..

Miscellaneous

$18

Dairy Farms.

Kong Standard Time.

Time

#17

40.00

01.85

b. m.

Mon.

.00 27.7 2

07 39

22

$7

Tues, 81

$2.20

18 27.00

Wed: 9

25

$39

Wing On

129 Thur 10

Bhai Wing On Mer

914

Vibro Pilingom

6/8

Maramant Inv: (kon.)

:2/0

Maramann Inv. (H.K)

$6.60

Entertaiuente...

$1.80 Constructions (old)....

#1 Constructions (new)...)

$7.45 Lane Crawfords...

*AL

Nanyang Tobacco...

$2.16 Sinceres

Wataona

367, Ch. G3x 182503Bdk.

Wm. Powells....

+Sals to Shanghai

(-) ". 14 59' (60) '18 10 14.4 01217.00001

[09:34% [66], 1024 9.5. 180451 20 19 5.0 10401164İNIR ES SA

1907649 07

Fri 11 05 24 6:4 1221

1937 188

040037407 0633

Bat, 19

Sun 13

We pay, high prices for all Gold But even if Soviet. Dictator Joset & Silver articles, Diamonds, Jade. Stalin were to remain quiet, the and Gold dust. Apply China Gold great difficulties in crossing the floor, Room 6. Germans still would have to face Reaning Co., Pedder Building, 2nd

Dardanelles or the Bosphorus'i to get into Turkey against the op- position of the Turkish army.

VAST PROBLEMS

HOTELS

RUSSIAN CUISINE

MORE POPULAR : EVERY DAY

METROPOLE HOTEL

FOR SALE

For Sale Fifty sets of Jubilee and Wanted to Buy 2nd Hand Type-Coronation Stamps 1st day Cover. writer in Good. Condition, PleaseWhat offer? Please apply to Box Once that obstacle is overcome,pply to Box No. 464 c/o The No. 465 e/o The HK.D.P.

HKDP It would be necessary to continue fighting southward for another thousand miles before an offensivė can reach the position at the level

WANTED KNOWN,

of Suez. The magnitude of main- ORDERS TAKEN for hand-made. taining a line of communication sweaters, Ladies Jumpers, Babies" of that length is obvious. The outfits, etc., at $5.00 each for

workmanship: · Germans would have to use an enormous army and at any time,

Wool and model desired, to be

It would be in danger of eventual supplied by customer. Russian attack at their rear, Send particulars of address, etc., severing the supply line along the to Box 502, HK.D.P. Bosporus and the Dardanelles.

The second possible German movement concerns direct re- Inforcement of the Italian offensive from Libya to Egypt from the west. IK a large German army could" Join the Italians, the possibility of pushing

back the British. would be increased.

Tha"WE" have an outstand- ing assortment of latest American dresses, for all occasions and price to suit all purses. Call at Vanity Shop" (Lazarus) Pedder Street

Experienced Book-keeper Wants, Students to form a class. Guaran fee students to keep a whole set of But the only way of using the books after completion of a course 2005 6 D 1269 26 German army with Italian Marof 6 months For Term and Par- 20797 6:4 0106 40 shal Rodolfo Graziani's command ticulars Please Apply to Box #30 28 6TN 1334 25 would be by transport across the No. 4622-60 HKDN

Just Received Fresh Supply

Best varieties of

Reliable and tested

Flower & Vegetable

Seeds

From Button and Sons, Ltd. Reading in pictorial packets

GRACA & CO.

Dealers in Garden Seeds, Portage

Stamps. Picture Books 2017?

No. 10 Wyndham Street

Hơn Tone Established 1896

TEA DANCES Tuesdays

-Thursdays,

Saturdays

Sundays

to 7.30 p.m.

· ENGRAVERS

FEI FEL & CO. Photo Engravera

18, Cochrane Streat Telephone No. 22224.

AUCTIONEER

GREATEST COLLAO TAON TH BARGAINS IN TOWN;

LAMMERT S

3.

SOCHON KROONI

Jimmy's