1941-09-12 — Page 10

PAGE 10-HONGKONG DAILY PRESS BRITISH BANKS TO CO-OPERATE 1 WITH STABILISATION BOARD

British authorities have instructed the British banks operat- ing in the Far East including Shanghai to give all possible ai and co-operation to the Chinese Currency Stabilisation Board, it in learned In authoritative circles in London.

welcomed here. The de

The dealston of the Hongkong conference between the affi cials of the Board and the British and American banks regard. tng exchange cantrol is most warmly ciston is rogarded as an important move signilleant implications but als will Favourable to China.

LEASE-LEND MATERIALS

which not only has bring desirable results

Firstly. 1t. implies H further proof of Anglo American mination of putting their

weight. Cul

bebund China's

deter- Anan-

cuuse, aside fron moral policai

and material support.

FINANCE

Finance and Commerce

MONEY AND EXCHANGE

CLOSING QUOTATIONS SEPTEMBER 11, 1941 In London:~~~~

Telegraphic Transfer. 1/2 7/8 Bank Bills, on demand 1/2 7/9 Credits 4 months' sight

Jo Shanghai-

On demand

On Singapore:-

Secondly. I reflects the close: On demand and whole hearted

co-operation on Japan:-

BRITISH ASSURANCE existing between the Board and

TO US. GOVT.

Sept 11

On demand

the Anglo-American banks which on India:- cntrol the great bulk of Shang-

LONDON,

Reutera's trade thereby assuring effer-

the t」 ta * ¡LF have tive execution The Bris Government given the American Government rangement an undertaking regarding the me

distribution 01

and

of

On demand On Paris:—

H.K. Stock Exchange

Thursday Sept. 11 BUYERS

HK Banks $1460. Canton Ins.. $232.50 Undon Ins., $433. H.K. Fire Ins., $185 Wharves, $94 50 Docks, $18.10. Providents, $7 25. Hotels. $3.90 Lands, $37

Humphreys. $7.55

Trama $17.65. Lights O), $6.65 Lights (N), $1.80. Electrics

$22.50

Electrics N), $22. Electrics Rts, $11.55 Telephones. (O), $24. Telephones (N), $9. Cements. $16. Dairy Farms, $19 40. Watsons. $12.50.

(REUTKE'S SERVICE)

London, Sept. 10.

FRIDAY, SEPTEMBER 12, 1941.

HONGKONG SHARE QUOTATIONS

SHARKBROKERS. ASSOCIATION

Buyer

#TOCK EXCHANGE

Buyers

Balls

Vichy's

Last Mald Balor Repté

THURSDAY

11 SEPT.

Banks

$1480 14.K. Banka.........

Do. (Col. Reg.)..

(Loon. Reg.)

Charte od Ranks..... Mercantile Hike. "A"

LONDON STOCK EXCHANGE

$1460

£84

€77

Do.

X.D.... 29 5/16

2231

£11 $76

Mercantile Hks. "Q"

Bank of Bast Amin.

N. C. & S. Banke

10 ct.

Insurances

82824

8930

8433

8433

Canton Insurances Union Insuranceu

$1

Underwritern

$185

BIST

H.K. Fires.

$120

Douglusve

$10

Steamboats

The following quotations are the middle prices at the close of the market in London. All quotations are subject to confrmation and no responsibility is assumed for errors in transmission.

45

$00

Shipping

Indo-Chinas (Prof.)..

$70

Indo-Chinas (Def.)

63/9

Shelto

28.65

Docks, Wharves.

Waterlonte

Godowns, etc.

H.K. & K. Wharven Providente

K. Docks (Old) H.K. Docks New! +Shanghai Docks...

Kailors

Mining

$10

893+

$6.99

480

£

52 3/+

War

(Red. Loan. 36% after 1952)

1064

102 1/4

Defence Loan, 3%

101

Canton-Kloon fly. 5%

13

Telegraphle and demand On New York; - -

Transfer

382 6/8

X

RU

Chinese 44% Gold Loan

1898 (Brit. Issue) X.D. Chinese 5% Gold Honds

47

$93

restrict

Bank Billa, on demand 24 15/16 Credits, 80 days sight 25 5/8 on Batavia:-

1925/47

87

86.00/7

Chin. 44% Anglo-French

Loan, 1908

817.70 818

$17.90

www

45

$32

46 8/4

Chinese 5% Crisp Loan

1912

304

13/6

Bank Bills on demand Nom. Credits months' sight Now

Chinese 5% Repre. Loan

$71

Ju Baigen:

1913 (Lan Is.) Chinese 8% Ster. Notes

38

On demand

106

SALES

1925 (Vickers!

10

Ja Manila:—-—

On demand

49 7/8

H.K. Govt. 4 Loan. 1 Ducks, $18.

Chin. Imperial Rly. 5%

$3,80

Loan

57

$361

$38

Providents $7.10-30

Honan Rly, 5% 1905

14

On demano

148

Hukuang Rly. 5%. 1911

$221 Shanghai Lands..

83.60

#31

H.K. Realtive.

$360

On Sterling Notes:-

Bank Buying Rate Bar Silver per os

L.P. N/Y Issue)

15

$7.66

Humphreys

072

Hukuang Rly 5%, 1911

$96

Chinese Estates.

23 1/2

(German Issue)

13

Cotton Mills

Lung Tsing & U Hal

$44)

Ewo (5.)

8305

B'hai Cottons (B.)..

Zoong Sing (8.)..

The new arrangement will close the last loophole in the Sterling

area

Thirdly. will further

il Lease Lund pernielms speculation and tightes materiais Detalle Will Ik nub exchange control in the Shanghai market where despite the freezing ished shortly.

Questions bearing on the mat ders, speculation was uncurbed ter were put In the House Commons today.

member On! asked to what extent it was the Government's policy to reduce ex ports from Britain to states other than the United States in order to obtain maKUMUM

temporary ad the Lease-Lend vantage fron Bl

FOREIGN EXCHANGE While control of the rate of the !Chinese Yuan is essential, li the

Board

function effectively, Leonfidence is. however, expressed that the Board will supply the

foreign ex necessary amount of

I

147

Another member asked for 88 change for permitted and approv surances that goods obtained un- der the Lease-Lend Act or goods ed imports so that it would aut of a similar nature produced in affect Shanghal trade

Contrarily, Ule new

on Bangkok:--

Treasures Britain are not sold 10 foreign will considerably clear

the up chaos brought about in Shanghal

In

competition with

in-

Market Report

Nom.

FROM ROZA BROS.

Thursday, Sept 11 markels

were unchanged American merchants.

Silver prices by the freezing orders and dras- When a Government spokesman

tically curtali the operations of yesterday. the quotations remain- stated that an announcement on

Silver advices the subject is pending, the Labour the black market there, while the ins at 23.1,2 for Ready and 23.

Chinese Government will be en 7/10 for Forward.

being! £9 reported the market member, Mr. George Strauss.

abled to exercise water-tight con- terposed to ask whether the Ontrol of exchange in

China by a steady. American Silver was quoted ernment were aware that consi-

system satisfactory to both Chi-at 34.3/4 for Spot.

York russ by erable damage is being done

The London-New nese aud foreign interests.

New allegations inspired by Nazi Finally, authorized Chinese, Bri. rate was quoted at 402.1:2. sources that Britain is using the dish. American Lease-Lend Act. In the way sug- exchange for undertaking not 1/4

gested above.

EXPORT TRADE

The Labour member Mr. Stokes, jexenange fur approved imports.-- asserted that several trade asso-Central).

ctations had already circularised

to

CHARTERED BANK

Holets, $3.80/95.

Lands, $37 37,25

Lights (0) $8.62 05.

Electrics Rts.. $11.50 75. Ropes. $10

Dairy Farms, $19.50. Watsons, $12.00

HONGKONG

SHAREBROKERS

ASSOCIATION

Volume of Business Transacted on Thursday. Sepí. 11. 1941. SALES

Rly. 6%. 1913

¡S'hal-N'king Rly 5%..... Tientsin-Pukow Rly. 5%

(Bril Stpd.)

བསལ་སོའ འཕྲུ་

...

:

Ranby

2 cta. Hong Kong Mines

Lands, Hotels and Buildings

11.K, & 8. Hotel...... H.K. Lands.......

80706. 4% Dubentures.

87

Wing On Textiles (8.

Public Utuities

H.K. Tramways....... $174

Bellore

Suomiam

::པྟཱཿ;

$1400

284

277

£9/16

£23)

H

£11

870

::

$230

8433

175 ote.

$185

$120

890

670

63/0

$64

811.30/35H.K. Electris (Rts) $11.36

Macao Electrics

Bandakao Lights........... Telophones (old).......

Telephones (new)....................

$35

!!!!

!!!

$18

$38

13/6

O.D.

83.80 $3.80

$97

$3.67

::

!!!!

:i

!

$30K

$125

រ

7b oth

#151

$10

810

124

Tientsin-Pukow Rly, 5%

$17.40

$7

Peak Trams (old)....

(German Stpd. 1

121

#31

Peak Trams (now)...

Tientsin-Pukow Rly. 5%

$514

Star Forrios............. -----

$931

(Brit. Stpd. Sup), Loan)

12

$231

Y'mati Ferries..........

3494

***

Tientsin-Pukow Rly 6%

$6.58

$0.66

Chins Lights (0)............. $8,56

66.80

(Ger. Stpd. Supl, Loan)

124

China Lights New)..

China Lights (0)

1,000 $ 6,62

Jap. 6 Ser. Lean, 1924 27-29 Ger. 7% Intl, Loan, 1924 64

822

H.K. Electrics. R.(0) ... 6211 H., Kortrion(Now)... $219

#7%

$31,851

311

#11.35:

1,000

6.65

Chartered Bank

9-5/16

$18 Macao Electrics

and Dutch banks York London was quoted at 403

500

6.70

H.K

S'hal Banking

500

675

Corp. (Lân. Reg.)

777

$12)

'o deal in the open market art guaranteed with supply of foreign

MARKET

500

6.85

HK. & Shai Banking

Quiet

China Ligirts (N

198

175

Corp. (Col. Reg.)

84

$241 801/0

$24)

Industrials

STERLING

China Providetits

500

7.10

Chinese Eng. & Mining

There were sellers at 1/3 up to October, buyers at 131/32 for Cash

500

7.25

(bearer)

19/0

$45

Cald., Macg. Ord.) 8.

200

7.10

Chosen Corporation

Cald., Macg. (Prof.)E.

81

Cantop Ices.

1,000

740

Mercantile Bank of In-

$15.70

▪ཥ་

Cemente.....

$15)

DIVIDEND

The following is the text of a

U. S. DULLARS Selling rate to Merchants 25- 1/16.

H.K. Docks ..................... H.K. Bectrics Rts.

600 18.00

dia, £5, "C"

11.40

Pekin Syndicate

117 1/-

$10

H.K. Ropes

H.K. Gort Louns

15/-

$107 4% Loan

$100°

500 11.60

S'ha Waterworks "A"

15

299 34%

(1834)

"

SHANGHAI DOLLARS Sellers at 512

1,000 11.75

Union Insurance

22

$90

3+%

HK Tramways

BBANGHAI MARKET

1,000 12.00 17.60 500 700 1,000

Gula Kalumpong Rubber

(1940) Miscellaneous

15

Lon, Mid & Scot.. Rly. 158

$19

819 Dairy Farms.

$104

201

Batertainmonta

$8,60

17.85

Great Western Rly

411

$1.00 Constructions (old).....

$1.85

3.80

National Bank of India

32

80 cts. Constructions (now)...

1,000 3.95

B.-A Tob. (bearer)

02/14

$6.45 Lans Crawfords..

$6.45

1,000

4.00

Dunlop Rubhar

36/-

Nanyang Tobeco.....

$3.50

A.S. Watsons

800

12.60

Bristol Aeroplane

10/9

$21

HK. Telephones (0)

200

24.40

Imperial Chemical Ind. 31/10

$126

#124/60

Binceres

$2,30

Watsons

$124

Ch. G.5% 1925G$Bds

43%

HK Lands

100

37.50

United Steel

23/74

$49

to Etopes

2,600

10.00

Woolworths

67/3

814

for

1.500 10.10

Marsman Investments

6/3

BB

19.261

Western Holdings Sub-Nigel

19/-

6/2

Maramans Inv. (Lon.)

143/9

1/6

Maramans Inv. (H.K.)

The total value is $181.776.00,

Shell Trans. & Trad.

(bearer›

814

Wm. Powells........

911

53/9

N.A. Chemicals (HX) $5

• bid

i ex div.

+Sale to Shanghai

their members urging them refrain from the export trade on account of the delay to announc ing an agreement between Britain and the United States, and asked telegram received by the Charter- whether it was the Government'sjed Bank of India, Australia and intention

abandon to

exportChina from their Head Office in

Londen -

trade.

The Parliamentary Secretary 1.C "Directors have declared an u tite Board of Trade. Captain ferim dividend for the past half Charles Waterhouse, replied that year at the rate of 10 per cent. it was certainly not the intention per annum subject to income tax habandon export trade

dividend payable on October 1."

S'hai Faced With Unending Trials And Tribulation

SHANGHAI, Sept. 11 (Reuter)--"Unending trials, difficulties and tribulation" are seen confronting Shanghailanders by the FINANCE AND COMMERCE--leading British financial weekly- following discontinuance of the open market for foreign ex- change.

112

Pointing out that Shanghal's past two weeks to the yarn market import surplus during the first and Blace the beginning of this seven months of the year totalled week particularly, enormous £13,500,000 and in July exceeded ferest has been taken " £3,900,000, the Finance and Com- meree states, "It cannot be densted

the stopping of that classes of raports must strike

certain

a

serious and perhaps fatal blow at

a large number of small firms and industries upon which

hundreds

THREATENED RAIL

STRIKE DELAYED WASHINGTON, Bept, 11 (Router)

Offelal rates. Sellers of Sterling HK. Hotels

ut 3.5/32 and U.S. Dollars at 5.5/16

AFTERNOON MARKET

Quiet.

STERLING

There were sellers at 1/3 up October, buyers at 1/3.1/32 Cash.

U. S. DOLLARS

Selling rate to Merchants 25.- 1/16.

SHANGHAI DOLLARS Sellers at 813, buyers at 514.

SHANGHAI MARKET

Official rates.

Sellers o; Sterling at 3.8/32 and U.S. Dollars at 5.5/18.

Shanghai Exchange

Shanghai, Sept. 11 (Reuter). Official T.T. Rates

200 563 11,50 B'hat Elec, Constr. Co

SUGAR PRICES

New York, Sept. 10 (Reuter).

NEW YORK SUGAR

Raw Sugar Centrifugal, ship- ment from Cuba, e & t. New York, duty free:

Spot

2.75b/800- 2.79b/808 2.79b/80a 3,82b/83a May

2.84b/86a July Sales for the day:-22 lote,

3.50 N

Raw Sugar Futures (Contract No. 3)

Opening

London

New York

Japan

India

been delayed as President Roose- "Prices will rise not because of velt bas ordered the creation of the depreciation of the currency a board of five members to but because those with goods to ilgate railway wage differences. sell will exploit them to the full" With B

rectifying view to situation Finance and

Paris

Hongkong

0/9-5,32 5-5/16

anquoted 17-1/2 anquoted

Sept Jan. March

inves-

21

Silver Duty Rate

Dec.

The Central Bank of China's

March

May

July

and probably thousands of people -The threatened rall stoppage has cow depend for their livelihood.

This in effect delays the stoppage rave on London at 10 am, todav this as in accordance with the Railway, was 1/2-1/24. Commerce Labour Act the strike must be de- "The Equalisation rate was 24-1/2 urges rationing and strict price layed at least 30 days after the per cent.

report of the investigators has been bright feature the hauded to the President,

control

The only

weekly secs is the possibility of an

expansion of Shanghai's

export

trade and a resultant improvement Anhwei Development

in the exchange position.

CURRENT REPORTS

In this connexion the weekly

says that reports are current that!

Company

General Li Ping-halen, Chair-

ordered the

of the Anhwe! Provincia;

LONDON METALS

Tin.

EXCHANGE

#43 $39 H.K. Wing On B'hai Wing On

$7.20 Vibro Piling

"Aliens" Buying Up NEW ROADS OPENED

Cars In Thailand

BANGKOK, Sept. 11 (Reuter)—

IN SHANTUNG

TOKYO,

Sept.

11 (Reuter)- Aliens who came to Thalland In Three new motor roads and ope London, Sept. 10 (Reuter).

large numbers have been buying waterway were opened yesterday Standard, Cash, Middle motor cars second-hand and car in the Chinese province of Shan- Price. buyers £257. sellers £257- owners are amazed at the price tung by the North China Com- 1/4

offered for their cars, says the munication Co.,, says a Pelping Tin, Standard, 3 Months, Middle THAI BASDR.

dispatch to the Domel Agency. Price, buyers £259-3/4, sellers.

£260.

3C-

the

The three roads connect These allens also try to buy cara from Government officials who towns of Chuhsien and Issu (8 Market quiet. Yesterday's

deals might distance of 20 miles) in Southern tivity was not maintained with suspect that such

the Shangtang: Hwelmin and Yangan- eventually prove harmful to sellers more willing. Smelters

chen (28 miles) in the North-and sok forward down to their unoff country, the paper reveals.

The nationality of the "allene" kwantac and Kanhain (20 miles) Raw Sugar Futures

cial limit of £260. After hours: (Contract No. 4)

Market again easier with dealers not disclosed but it is a well-to the West.

known fact that the only ahens

The waterway links the towns of 2.096/09ja

concessioning, business confined to

Lokow and Litsin. Both in the 2.50b/05ła

28. tons at £256-3/4 and 259. lately arriving in Thailand in

appreciable numbers are Japan-Yellow River, 156 miles apart. 2.05b/05-Ja 3/4. 2.051b/06ła Volume of business done:-368

lota

731b.

751/758

WINNIPEG WHEAT

| India Rupce Paper

per bushel

Bombay, Sept. 10 (Reuterì. Govt. 3 per cent. Rupee. 96-0-0-

Oct Dec.

May

SILVER MARKET

تم

LONDON SILVER there, is a possibility the Japanese man

London, Sept. 10 (Reuter). Suver Market quietly steady. will import allk and other goods Government, has from Japan and will soll them to establishment of an Anhwei Deve Production selling satisfied empl

foreign, exporters here,

lopment Company to be capital-trade demand

The Company ed at $10,000,090. "This would unquestionably

8pot, 23-1/2d. develop natural re-

Forward, 23-7/150. boost exports (leaving out the will seek to question of shipping! and would sources, and extend aid to private provide foreign export firms with enterprises (Central News) more trade and authorised banka

with larger amounts of exchange."

The Weekly states that

this

National half-cream dried milk sounds Welf In theory but it fore- is to be available to national milk sens several difficulties

cheme permit-holders with chl

year old, the ono The affect of the disappearatios aren under of the upen oxshatge market on Ministry of Food announce, The gold bar speculation has been a milk powder is intended for in- most overwhelming, it stated, fants who have digestive trouble-

full-cream mi

drled The turnover is now insigniwhen ton cant" Idle and frustrated wold milk, but mothers are asked to g speculators have turned during the medical, advice.

... 791/792 CHICAGO WHEAT

***

Dept. Dec. May Highest (Dec.) Lowout ( }

Tuesday's bushels.

per bushel 1181/1184 1321/122 1203/128

1234 121

sales:

25,268,000

?

A-asked N-nominal NEW YORK COTTON.

Opening Closing

17.79/77 17.60/68 ... 12.02/91 17.75/70 17.84/04 17.05/07 10.14/10 17.02/03 18,23/20 10.03/08 18.23/30 10.00 - N

B-bíd

BOMBAY SILVER Bombay, Sept. 10 (Reuter). Market-Steady. Offtake to bats. Oct...

Indian Mint Silver

Doo, Jan.

Ready

03-0-0 Mar. Sept. 17 Settlement...... #3-0-4 May Oct. 14 Settlement... 03-1-0

July @pot

18.20

Ughost (Deb.), Lowest

10.08

>

17.75

T/T on London

4.08-1/2

ilver, Omidal nato

34-3/4

Landan Silver, Spot.

23-1/21.

LONDONTM GOLD

London, Sept. 10 teater), Bar Gold, Fine por os, 108/-

ese.

INDO-CHINA

STEAM NAVIGATION COMPANY ID

Operating Services for Cargo and Passengers

TO-

SWATOW, SHANGHAI, TSINGTAU, CHEFOO

and TIENTSIN

KOBE and OSAKA

SINGAPORE, PENANG and CALCUTTA

SANDAKAN

HAIPHONG

All steamers borth alongsitio the Roosevelt, Tarmina in the French Concamion at. Shanghai, whore sougore

and cargo ere landed

For further particulars

please apply to

MATHESON&Co. LTI

TIETOTENOJIE GENER L'ANAGERS