PAGE 8-HONGKONG DAILY PRESS
WARNING AGAINST
UNDERESTIMATING
JAPAN'S
ECONOMIC CAPACITY
A warning against underestimating Japan's economie capaelly and misunderstanding the increasing shortage of commodities of- fered for consumption, is given in the current issue of ECONOMIST, says British Wireless.
cover Japanese "Supplies," it is stated, "are large enough to war-time requirements for periods ranging in various goods from s.x to fifteen mouths.
the
"It is estimated they will permit of war stocks. These Germans are Japan, while continuing the war also responsible for the increasing In- of
Currout Angio difficulties face the fn China 20
dusurial production and for the American embargo for about year or allow her to fight a south- huge decrease in the supply of commodities for civilian consump.. some ward bitzkrieg
tion in Japan. months.
a
six
way
FINANCE & GENERAL
Finance and Commerce
LONDON STOCK
EXCHANGE
(REUTER'S SERVICE)
London, Sept. 8.
The following quotations are the middle prices at the close of the market in London. All quotations are subject to confirmation and no responsibility is assumed for errors in transmission.
MONEY AND
EXCHANGE
CLOSING QUOTATIONS SEPTEMBER 9, 1941.
On London:--
Telegraphic Bank Bills, on demand 1/27/6 Credits 4 months' sight
Do Shanghai;-----
H.K. Stock Exchange
Tuesday, Sept 9
BUYERS
Canton Ins., $230.
WEDNESDAY, SEPTEMBER 10, 1941.
HONGKONG SHARE QUOTATIONS
STOCK EXCHANGE.
Buyera
Bellera
'day's Taut Bato
SHAREBROKERS' ASSOCIATION
TUESDAY Bajer. Bollera Baarsina
Bontd. 9 SEPT.
•
Banks
$1400
1.K. Banks
286
£77
ᏪᏗ .
XD. £23
•
211 876
WAY
Do. (Col. Reg.).. Do. (Lon. Reg.) Chartered Banks ....... Mercantile Bks. "A". Mercantile Bk. "O". Bank of Erst. Asia.....
N. C. & 8. Banke.....
Insurances
Canton Insurancee..... Union Insurances.............
17 et
$1460
$70
Transfer, 7/
Union Ins., $432.60.
8220
$433
H.K. Fire Ine, $185.
81
Underwriters.....
Wharves, $92.
3185
81871
H.K. Fi...
Docks, $17.85.
On demand
Shipping
480
Providents, 88.75.
Ja Singapore:---
#190
Douglase
(Red
On demand
52 3/4
Lands, $36.50.
$10
106
Jn Japan:-
Humphreys, $7.60.
$90
1018
On demand
..... ius 1/4
Trama, $17.38.
$70
13
Jn India:-
Yaumati Ferries, $23.25.
51/1
relegraphic
47
and demand
Transter 82 5/
Cements, $15.60.
45
8911 $6.60
#002
Steamboats.*****
Indo-Chinas (Pref.). Indo-China (Def Shells
$0.56 | Waterbosts...
Docks, Wharves. Godowns, etc.
H.K. & K. Wharves
***
3230
$133
75 ata.
...
$185
$120
890
170
51/101
$001
$6.66 Providente
$6.60
$8.85
Watsons, $12.25.
$17.60
$17.60
H.K. Docks (Old)
$17.60
H.K. Docks (Now) -
SELLERS
ILL
8312
+8hanghai Docks.....
6311
Mining
113/0
| Kailana ......
#71
Rauba utanmoran
$7 #
g.
13/6
::
A
2 cts.
Hong Kong Mines.....
Chin. 44% Anglo-French
War Loan, 34%
after 1952) "The accumulation in Japan of Defence Loan, 3% "Germany's attack upon Russia! was not foreseen in Tokyo and the large additional stocks of war sup- Canton-Kicon Rly. 5% accomplished first Chinese 41% Gold Lona
1808 Brit. Issue) new situation thereby created has ples led the Japanese fighting services through systematic economising of
1925/47 to demand an urgent further in- war and other materiais original Chinese 5% Gold Bonds. crease of their war stocks so as to ty earmarked for use in China enable them to face. besides the, Secondly. by continued tightening
Loan, 1908 continuation of the China war and up during the past 12 months of
a Japan's foreign trade and foreign Chinese 5% Crisp Loan the Anglo-Saxon embargo or southern blitzkrieg, aggressive oc exchange controls and reducing tion against Russia in case 1 exports to a minimum required by Chinese 6% Reorg Loan
1013 (Ldn 18.) exchange needs. And should collapse before the German foreign
thirdly, by further curtailment of Chinese 8% Ster. Noten
1925 Vickers) onalaught.
civilian consumption all along the
Chin. Imperial Rly 5%
Loan Honan Rly, 5% 1905 Hukuang Rly 5%, 1911
(LP, NY Issue) Hukuang Ry. 5%. 1911
"After Japan's adherence to the Tripartite Pact, the complete ap. line paratus of German financial. economic and technical advisers was imported and superimposed by the Tokyo War Office upon the Japan's finance and
whole economy.
The writer adds, however, “In-
and fluential Japanese rullitary naval leaders have recently be- come critical of the German ad visers' industrial methods and are plainly paying attention to the RUGE ACCUMULATION suggestion of private big business
be C **This apparatus 01 German that production should advisers who by the iniddle of houraged by old standard methods last winter, ceased to advise and of increasing the prices and al- bogan to direct, is chiefly respon-owing higher private profite on sible for the huge accumulation war and related materials"
SKILLED LABOUR NEEDS OF ARMY,
CIGARETTE SWOOP
NAVY, INDUSTRY A London nrm of retail-whole
1912
(German Issue) Lang Taing &
Rly. 5%, 1913..... S'hai-N'king Rly. 5%. Tientsin-Pukow Rly. 5%
(Brit Btpd.) Tientsin-Pukow Rly 6%
(German Stpd.) Tientsin-Pukow Rly. 6%
(Brit. Stpd. Supl. Loan) Tientsin-Pakow Rły. 5%
9 9 2 2
Lights (N), $1.75.
Electrics Rts. $11.2.
New York:-
Bank Bills, on demand 24 15/16
Credius, 80 days' sight 26 6/8
Ropes, $9.65.
45
in Batavia:-
On demand
On Parla:-
.... 46 3/4
Bank Bills, on demand Nom.
Credits 4 months' sight Nom.
...... 108
Lands, $37. Watsons, $12,35.
SALES
Wharves, $92.50, Docks, $17.90. Providents, $6 BA
Lands, $36.75.
Market Report
FROM ROZA BROS.
Tuesday, Sept. 9.
were unchanged Silver prices yesterday, the quotations remain- ing at 23.1/2 for Ready and 23.- 7/16 for Forward. Silver advices reported the market as being quiet. American Silver was quoted at
SHAREBROKFRS
ASSOCIATION
Volume of Business Transacted on Tuesday, Sept. 9, 1941.
On Saigon:-
10
un demand
Ja Manila
57
On demand
***** 49 7/8
14
Jn Bangkok:~~
Trams, $17.50
On demana....
148
Lights (N), $1.75.
15
On Sterling Notes:-
Electrics (0) X. Rts. X.D. $22
Bank Buying Rate
Now,
Electrica Rts., $11.26/30.
87+
Lands, Hotels and Buildings #3.70 H.K. & S. Hotel..... #38.90 H.K. Laads...
$87 Do. 4% Debentures. #Shanghai Landa.
H.K. Realties. Humphreys
$9.80
$88.8')
897
$7.20
308
13
Bar Sliver per on
03 18
Dairy Farma, $19:25.
Chinese Estates......
Cotton Mix
Hai
Watsons, $12/12.36.
843
Ewo (8.).......
#43/
13
8205
Bhai Cottons 18.j.
$305
27
HONGKONG
Zoong Binge (3.).....
J
124
Wing Ou Textiles (8. Public Utilities
$120
$17.30 $17
$17.40 H.K. Tramways....
$17.35.40
121
$7
Peak Trata
(old)........
$7
$32
Peak Tram
(naw)....
12
124
$51
Star Ferries......
8931
Y'mati Ferries..
17
3231
$
91
H.K. & S'hat Banking
WHOLE POSITION IS plaint
UNDER REVIEW
Corp. (Ldn. Reg.) .... lost their |sal tobacconists have
retail licence because of a
H.K. & S'hel Banking con About distribution. They Corp. (Col. Reg.)
"for the Chinese Eng. & Mining must close their shops
(bearer) duration."
M
(Oer. Stpd. Bupl. Loan) Jap. 8%, Ster. Lean. 1924 25-271 34.3/4 for Spot.
cross. Ger. 7% Intl, Loan, 1824
The London-New York Chartered Bank
rate was quoted at 402.1/2. New York-London was quoted at 403.- 1/4
SALES
86.66
Chins Light (0;......
€8.65
Cements China Providents
500 $15,65
81/
2,000
6.75
X.D.
922
500
8.80
8211
China Lights (0)
100
8.55 $11.20
918
2,000
6.50
H.K. Electrics X.R.(0)
8214. K. Ele trics(New)..
81. $11 30 H.K. Electrio (ts)
Macao Electrice
Macao Electrics
Chine Lights
(New).
01/
$21.9 #211 #11}
China Lights (N)
500
1,75
$12
Sandakan Lights......
MARKET
1,500
1.75
324
Telephones (nd)....
394
85
Quiet
H.K, Docks
82
17.70
89
Telophones (new).....
STERLING
13/4
Dairy Farms ....
84
19.25
Industrials
LONDON. Sept. 9 (Reuter-The Artig on information from the Chosen Corporation
the extension of the investigators of Mr Maxwell, To-Mercantile Bank of In question of
Tobacco dia. £5, "ỌN present limits or call up of menacess Controller, the
fssociation decided to Pekin Syndicate
for the armed forces has not yet c
4/-
There were sellers at 1/3 up to at 1/3.1/32 for October, buyers Cash.
HK. Electric Rts. A.8. Watsons
200 11.30
₤45
Cald., Macg.. (Ord.) B.)
300
12.00
236
Cald., Maog. (Prof.)
BI Canton Ics......
75 ete.
500
12.35
1/
been
The Brin's 6'hat Bec, Constr. Co. discussed by the Cabinet withdraw the licence.
S'ha Waterworks "A" hesaur cence is not affected The possibility of such an exten-
of which
Union Insurance The practice
made is common in Oula Kalampong Rubber Yule was
u Lon, Mid. & Scot.. Rly of the country." at parts
Great Western Rly. wholesaler said.
15/- 15
U. S. DOLLARS Selling rate to Merchants 25- 1/16.
200 12.35
$18.60
HK. Tramways.. HK. Hotels
200
17.40
400
3.76
com
22
15
15
4131
32
89/41
of Dunlop Ruhher or a large part
retail cou-Bristol Aeroplane
35/9
10/0
being ter..
Imperial Chemical Ind
31/0
23/7/
Quiet
57/0
SHANGHAI DOLLARS
A very small business was done at 514. There were sellers at 514, buyers at 616,
SHANGHAI MARKET
There were no quotations from the "free" market. Official market rates were 3.5/32 for Sterling and U. S. Dollars at 5.5/18.
AFTERNOON MARKET
STERLING
Rupes
500
9.90
199
200
10.00
1,000
10.00
R.K. Telephones (N)
500
9,25
887
-$1.80 Construction (old)..
11,988
The total value is $86,383.40.
$15.70 to
$9.66.K. Ropes
H.B. Gort Loans $101 4% Loan.' 36% $08 13%
(1934). (1940). Miscellaneous
819,18 Dairy Farms.............. Entertainments ........
80 cts. Constructions (naw)... |
$15.75
898
199
$6.00
LONDON METALS
EXCHANGE
16.45 Lane Crawfords.........
Nanyang Tobacco......
83.60
$21
Sinceres
$2,30
$11.85
Wataons ENTERRAMATT
$11.70
$43
Ch. G.5% 1925G$Bds.
6/3
19/-
There were sellers at 1/3 up to October, buyers at 1/3.1/32 for
London, Sept. 8 (Reuter),
***
Tia,
143/0
Trad.
Cash.
Standard, Price, buyers £257, sellers £257- 14.
Cash,
Middle
0/3
839 H.K. Wing On
S'hai Wing Oo.
£7.20 Vibro Piling..............
Marsmans Inv. (LOD,)
1/0
Marsmans Inv. (H.K)
#1
Wm. Powella.................
51/10)
U. S. DOLLARS
+
N.A. Chemicals (HK)
• bio
1 ex div.
+Bale to Shanghai
1/16.
SHANGHAI DOLLARS
nut
alon to meet the growing needs of
been the armed forces has lost sight of and the whole posl tion is constantly under review.
"There has been a tendency National Bank of India The most urgent need of the mo- ment is for people who can act in among retailer-wholesalers to put B.-A. Tod. (bearer) a supervisory capacity in the ser- their stocks,
vicing of aeroplanes and in con-them. on their own sequence more people are taken out of industry to meet this "This gives them an advantage United Steel need.
over competitors. The trade are Woolworths
Marsman Investments only determined to stop it." Action this At present
Similar action against Arms in Western Holdings affects the air force, following the
Sub-Nigel report recent
of the Beveridge the provinces is expected.
Shell Trans Committee on this subject. This
(bearer Committee is now examining the needs of both the army and the
the problem too, of dividing spect- navy for skilled men,
The position of trainees from Be pieces of work into very sinall India has also been under ex- parts so as to enable most of the work to be done by either parti- amination. As far as shipping circumstances pormit there will be ally trained or unskilled labour. hore trainees from India in this country and training time may be extended.
GOVT.'S PROBLEM
BURMESE PREMIER ON SINO-BURMESE Eighteen months ago the pro-
CO-OPERATION portion of skilled labour employ- ed on such work was between 36
Burma's ufficial goodwill and 38 per cent. It has now been reduced to between 10 and 12 per readiness to co-operate with the
ETC
Tin, Standard, 3 Months, Middle Selling rate to Merchants 25-Price. buyers £260, sellers m
consumer.
received.
Market firm, hardened with bet- 514.
ter demand for, cash and nears Forwards SHANGHAI MARKET
from one There were no quotations from were also better with little cover- the "free" market. Official marketing by cash sellers, rates were 3.5/32 for Sterling and
After hours: Demand broaden. U. S. Dollars at 6.5/10.
ed. 65 tons at £260.
The question which Government cent, and it is hoped ever lower Chinese was expressed in a speech Shanghai Exchange
has to face today is that of sup-standards can be achieved without by Premier U. Saw in the State plying both the needs of industry in any way diminishing but rather banquet in honour of the Chinese and the armed forces. There is increasing efficiency of output.
NO BEER-SOME LONDON BARS CLOSE DOWN
By Overacas Dally Mail Reporter
Some London public-houses, owing to shortage of beer, closed all or part of one day last week for the nrst time in their his tory. "I have just broken a life-time record,” said one City of London woman Ncensee. "by having to tell customers I have nu beer for them.”
Goodwill Mission on Sept. 2 when he said that the "diplomatic re- presentatives of China stationed in Burma, I am sure, can testify that the Government and people of Burma consider with sympathy. any demands which are made to us for help."
Shanghai, Sept, & (Reuter)
Official TT. Bater
Opening
Londo New York
Japan
India
£257-1/4 an
0/3-6/32 FEDERAL RESERVE
6-5/18 unqucted 17-1/2 unquoted 21
EMERGENCY RELIEF Western Kweichow
IN FOOCHOW
Salt Fields
Upon the recovery of Foochow,
KWELYANG, Sept. 8 (Central)- United Kingdom. warehouse the National Relief Commission stocks were at 4,459 tons, a de has appropriated $100,000 for em-Rich salt deposits have been dis- Western crease of 173 tons.
ergency refugee relief in the city, covered in Shuicheng, The money has been remitted to Kweichow, and plans are on foot
for thefr.exploitation...
Mr. Med Chun-mu and other the Fukien Provincial Relief Com- mission for distribution among the
leading, merchants in Shuicheng" refugees.
have petitioned the Ministry of The National Rellef Commission Finance for permission to organise has previously appropriated a to-a company for the development of tal sum of $880,000 during the the salt fields. Subscriptions to Japanese occupation of Foochow. the. capitalisation of the projected
company are being solicited. (Central News).
RETURNS New York, Sept. 1 (Reuter). Aug 19 Aug. 26 (000's Omitted) Total Loans $10,888,000 $10,903,000 The Central Bank of China's investments 18,397,000 18.335.000
Paris
Hongkong
in
Silver Duty Rate
The Burmese in turn, the Pre- mter sald, were confident that "any help, and assistance we may rate on Lordon at 10 am, today
was 1/2-1/2d.,
require from China not in war but also in times of peace will be willingly and promptly given,
Further demonstrating Burma's begun in goodwill, the Premier has present-1 The-Gov-cd to the Mission a set of ancient taverns of classical and modern Burmese
The situation is worse ́In many Beer rationing has provincial areas than in London, some parts of Britain. because of the frequently greater ernment - controlled distances between the breweries Cumberland and the Border dis-i gramophone records. In a letter to and public-houser, '
tricts have been ordered to allow Dr. Monin Chiang, leader of the customer only alimited Chinese mission, the Premier gald: "I earnestly hope that this gift will be lasting evidence of tho goodwill which the people of
In parts of the country they cach are closing xrom one to four days quantity.
or an hour earlier
A wook alght,
at
One brevicr told me the tavern- ment might have to stop in son as they did in the last war, and the pubile might have to drink
pool beer" again,
RELIEF OFFICIAL'S
INSPECTION
The Equalleation rate was 24-1/2 per cent
India Rupee Paper
INDO-CHINA
Bombay, Sept. 8 (Reuter) STEAM NAVIGATION COMPANY LTA
Govt. 31 per cent. Rupes, 98-0-0
SILVER MARKET
LONDON SILVER_ London, Bent. B (Reuter) T Silver-Market quiet, with negl Burma have for the people igible business Buyers catlafted China,"
Spot, 23-1/2d: Forward, 28-7/18d/%/6
Chinese
the Since Monday Mr. Chu Ying-kwang. Vice Goodwill Mission has been con-1 Chairman of the National Rellefinually fated by various organisa Commission, who has been on a tions, including a lunch given by MORE WORK There is more work and wages tour of inspection or the roller the Mayor of Rangoon, a tea recep- work in Hunan Kwangtung, tion by the Burmese-Chinese are bigger," he said, "and the long evenings are keeping people out Fukten and other provinces during Cultural Association, a dinner by tate "Add to those reasons the the past several months, has ar-the Chief Secretary of the Cab- weather and transport difficulties, rived in Kinhwa to continue his inet, and a lunch by the Chinese Government employees now Ata- We are advising our tenants Inspection.
to keep open on three days a Mr. Chu came from Tiental, his cloned in Burma, kt wook and to spread the supply native city in south-eastern Che-
The mission bade farewell to the. Cover the rest of the week na bost kinng. He is returning to Chungking Governor, Bir Reginald Dorman-
they can,
shortly(Central News),
Bmith (CentralNews);
BOMBAY SILVER " Bombay, Sept. B (Reuter) Market-Steady. Offlake 100 bars. Indian Mint Bilver Ready suportam 02-15-0 Bept. 17 Bettlement 62-15-0-
02-15-0 Oct 14 Settlement
LONDON GOLD
Ret
Operating Services for Cargo and Passengers
TO-
SWATOW, SHANGHAI, TSINGTAU, CHEFOO
and TIENTSIN
KOBE and OSAKA
BINGAPORE, FENANG and CALCUTTA BANDAKAN
HAIPHONG"
All steamers tortir alongeirie the Roosevelt Terminal in the French Concession, at Shanghai, where passangeri and cargo are landed.
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