Sept
Jan.
£
Mar
Red
Jand WI July
who bred first a great impor cernpatient re
Filier and the Lance Nazis have been palpably ing
Atlantie Battle $ were therefore forced to
But I'
wading added hat e
ttered a refer 11 because
Curias gan.sa Atopi chatice to win!
Cemi America Fir Tito break down, the budget ship
the Amert al public Marrying supplies to Britai
dgineral B was Date U-boat
arter 19521 Defence Lan, 3%, Cantun Kloon Rly. Chinese 4% Gold Loan
1898 Brit Issue Chinese 5% Gold Bonds
.......
52
100-5-16
1014 13
May July
Sules or the day: 25 lots
40
PAGE 8 HONGKONG DAILY PRESS
FINANCE & GENERAL
WEDNESDAY, SEPTEMBER 17, 1941.
U.S. NAVY WILL PROTECT FOREIGN MARKETS & QUOTATIONS
LEASE-LEND CARGOES
the
MILWAUKEE. WIS., Sept. 16 (Reuter-Beginnine today. United States Navy will protect all Lease-Lend cargoes travers- and the waters ing the sea "between the American continent adjacent to Iceland," said Colones Frank Knox, Secretary the Navy, addressing Dir Amerkan Legion Convention,
in Fleet's orders Colonel Knox described the Affantic equivocal language-"to capture or destroy" every Axis surface on SHO NICE Face raider that is encountered
This is ur answer
ht declaradon
tar
to
of
411-
LONDON STOCK EXCHANGE
<REUTER'S SERVICE)
London. Sept. 15. The following quotations are the Huller's Putning at that the Navy De
nuddle prices of the close of the published Imminediately will try to pariment
are subject to confrmation and no erountered on, all tormagen about this incident market in London. Ali quotations
154 German Government r the Unlied whale
the responsibility is assumed for errors saying that by States to British perts" he added countered.
Col in transmissier. first shel 1 TE Cod Knox's announcemani cate Greet
Th In Kaos saiti
whole star is near the
3- / 1 /
every conales leadi
d has address
when he declared that since the far too brand to make the question War Loan. 34% Cited States
اد.
SUGAR PRICES
New York. Sept 15 (Reuteri.
NEW YORK SUGAR
Raw
MONEY AND EXCHANGE
Sugar Centrifugal, ship- CLOSING QUOTATIONS
meut from Cuba, e & E. New York. duty free:---
Spot
3.606
Raw Sugar Futures (Contract No. 3)
2,74b/760
2.78b/8fm
2.77b 7úa
o Shanghal:-
Transfer. 1/97/0
Bank Billa, on demand 1/2 7/8
Credits 4 months' sight
On demand
Bingapore:—
On demand
On demand
Telegraphic
and demand
2,806 82a
2,82 843
Jo Japan:
in India:-
HONGKONG SHARE QUOTATIONS
STOCK KICHANGH,
SHARKBROKERS›
ASSOCIATION
TUESDAY Boyer Baller Baalbe
E23
£111 876
Charte
ad Bauks
#1490]
X.D.
£77+ £9 £233
876
V"day's Lant
Enyor* thellers
Bale
Зайчик
spid
16 SEPT.
SEPTEMBER 16, 1941.
Banks
in London:—
Telegraphic
$1480
$1480 11.K. Banks ......................
BAD
Do. (Col. Rog.)
£77
Do. (Lon. Reg.)
Morcantile Bls. "A".
100
Mercantile ks. “C” Bank of East Asia.
N C. & Barks,
19 ct.
62 3/4
Insurances
$240
$230
Cabion Insurances.....
$yan
8440
102 1/4
$432
Union anuFANDOS.
8440
$1
Underwriters
Kaw Sugar Futures Contract No. 4)
#187
$1871.K. Fires
75 cts. $1871
Transfer
82 4/8 |
Shipping
Dir
2.12b 12ja
$120 Douglases
$120
J New York:-
$10
Steamboats
8101
1926/47
45
208 b 09a
fl
Mar
1 in is
seiy
1 t
Coi
T
1:4
States
foes
it wa
RYA 12
room
S
Mar
the submarine torpedoes aimed at the American ning tumorrow the American Navy
protection ace 'provide The Greet evaded them will destroyer
quate as we can make it for ships attacked the sub and promptly marine
with depth charges." Col of every flag carrying bease Lend
And supplies Knox ontinued
Chin. 44 Anglo-French
Loan. 1908 commaak? was telling the truth: Chinese 5% Crisp Loan
the American nava!
if Hitler and the Nazly did no Jak swiftly successtui mavastres de
that bridge. break down
of Eog 46 1 Kmk Suk. the dercat jand the primary purpose of the whommanded the Greet
would become impassibit: War they did make
aft at such effort they would add the tulfed
t ha Navy
chule ball Nazi action in the past few days had
doub fue left
A German what they would du
American submarine accostru 24:1 destroyer carrying mal) to our out
The euroGETİKAT Post in Iceland carne in broad daylight and American destroyer varr.ed enti
start A1 Acation
marks
discharged
ri¦201 the questies of verucityBukuang Rly 5%. 191 Gerlared publicly that they pre
word of the terred to accept pinatural murderer of women and children on the high seas engaged 'h the type of ware denounced the by every viliser nation in world
May
2.384b/09
Bank Bills, on demand 21 15/16
Credis, 60 days sight 25 5/8
870
Indo-Chines Pref Judo-China (Def.)
300
870
+6
July
Volume of business dome
2,100 1ņķa
-183
Ja Batavia. —
503
Shells
16/3
On demand
--.... 48 2:4
Soo
Waterluste
Nicar
IMPORTANT FACT
"That is an importan: fact for
American pubile
JQ12 Chlose 5 Reorg Loan
1913 (Ld Is: Chinese 8 Ster Note
Vickers 1925 digest, Chin Imperial Rly 5%
24A
Jn Pariz:--
Tols
قا
askexi
38
bid 4
N-nominal WINNIPEG WHEAT
Bank Bills, on demand Nom.
#97
Brid
Credits 4 months' sight Noon
#7.30 $74
On Saigon:
10
Oct
per bushel
73/73
On demand
105
::
ju Manila:~~
87/451
8204719.40
8331
Math Wi have our midst an or Ranisato ot ADDRE
Loan
40
Dec.
Citizen Honan Rly. 5%, 1905
14
May
7840
CHICAGO WHEAT
743 47:
On Bangkok:--
On demand
On demand
49 7/8
Ducks. Wharves. Godowns, etc.
B.K. & E. Wharves Providents
H.K. Docks (Old) 17. K Docks (New)
+Shanghai Docks....
Mining
114/0
Kailans
248
$7
Raube
$97
87.60/1.30 ...
1818/
83ht
14/0 87.20
1LP. NY Issue) aukhang Rly 5%
15
ང།།
2 cts.
Hong Kong Mines
1911
per bushel
On Sterling Notes:---
Col Kox
avoided using the re
"Courvoy," saying that begin. thr Weta
German Issue) ng Tsing & Rly 5%. 1818 8'ha-N'king Rly. 5- Tientsin Pukow Rly 59
(Brit Stpd Tientsin Pukow Rly 5
German Stpd i
13
Sep:
118 1180
Bank Buying Rate
Nou.
Lands, Hotels and Buildings
Ha
Dec.
1224/1228
Bar Silver per os
23 12
$4.20
84.40 | #41
H.A. & 9. Hotels.
$4,20/1.25
..
25
13
May
1284,1204
8381
839
8381
17
Highest (Det:, j
122
Shanghai Exchange
R. Lands.............
$97+
Do. 4% Dabautares.
8974
#X2
Shanghai Landa
Lowes! {
1211
......
aż
Tientsin Pukow Rly
5
(Brit, Stpd Supi. Loan Tientsin Pukow Rly 5%
Oer Stpd Supl. Loan) Jap 6 Ster Loan. 1924 Ger. 7% Intl Loar Chartered Bank
13
13
1924 7
ན་པ་ཚཚོན་མི་པག
Saturday's sales. 10,719,900
bushels
Shanghai, Sept. 16 (Reuter).
$4.30
1.15
H.K. Roaltiaa
84,15
Official T.T. Rates
Rumphreys
$100
599
Opening
NEW YORK COTTON
Opening Closing
Chiness Estatsə,
Cotton Mills
..
London
0/3-5 32
New York
Oct
17.80 20
17.71/71
Der
.17.99/18.00 17.90/91
Japan
5-5/16
unquoted
Jan.
18 06/06 17.95 N
India
Paris
17-1/2 unquoted
#48) | Ewe (8.) ................... 0203
N'hai Cotton (8.)... Zoong Sings (8.)..... Wing Ou Textiles [8. Public Utilitie
29-32
Mar.
18.21/21 18.08/10
May
July
Spot
771
Highest (Dec.)
Lowest
1
85
Chinese Eng. & Mining
(bearer)
Silver, Official Rate London Silver, Spot
15/6
Chosen Corporation
5/6
the firms out 115
Mercantile Bank of In
dia, £, "Cer
1141
made year,
represented by Sir agreement an
Pekin Syndicate
1-
6'hai Blec, Constr. Co
13.9
Shal Waterworks "A"
15
Union Insurance
22
1,4
ula Kalumpong Rubber
15
15%
414
32
prier limits,
fair
92/6
35/10
10 71
32/44
the
TO
be
Woolworths
23/74 57/3
7/6
19/0 143/9
& Trana.
Trad.
56/3
The U.S. Government's
action
(bearer bid
i ex div
Government May Save Clerks From Unemployment
TRIBUNE STAFF REPORTERĮ
Hundreds of experienced clerks in rubber broking and rub
bet dealing firms in Malaya are threatened with noemployment
as the result of a situation which is forcing business,
It all began when the United Kingdom.
John Hay, at about this time last
with the United States by which the latter was to buy up surplus stocks of rubber to build up a reserve of 300,000 tons, for any emergLucz
It was agreed that this rubber freight space to America upset cal- was to be bought within certain rulations
H.K & S'hal Banking Corp. (Ldn, Reg.).
Shal Banking HK. &
Corp. (Col. Reg.)
Lon, Mid. & Scot. Rly. Great Western Rly 05 to ensure pro As a result of this the US. Goy National Bank of India
undertook to provide B. A. Tob. bearer? but eventsertment ducers a
price. have occurred which have forced freight for all rubber shipped from Dunlop Ruther
Bristol Aeroplane The US Government, in order to Malaya, but instead of freight be
buy rubber for the reserve stocking allocated here, the allocation Imperial Chemical Ind
was made in New York with the United Steel price ranges. within
the result that the Big Five again re practical purposes Come Itaporter 12 rubber. Consumers ceived the majority of allocations. Marsman Investments
then no rationing of Western Holdings In the US were forcing up the There was price and there was little rubber consumption in the US. and the Sub-Migel
result was that anybody who could shell Bving to the reserve stock
ebtain freight space was prepared has knocked the big firms out of to bid high in order to obtain
rubber. The price
sonn went
business because free competition this-ended and rubber is being above that fixed in the agreement.
bought and sold here al prices which allow the dealers and brok ers no chance to make a proft
PRICE-RAISING FACTOR
prices
these maximum The quantity of rubber arriving minimum prices. in the US.
was not enough to
PRICE MARGINS The competition to obtain such Government has been approach. satisfy the demands of consumers ed ard is taking a sympathetic and they bought all they could of
rubber for immediate shipment-rubber as has been available has
LONDON METALS
EXCHANGE
London; Sept. 15 (Reuter).
Cash Middle Standard. Tin. Price, buyers £257, sellers #257-
Tin, Standard, 3 Months. Middle Price. buyers £259-3/4, sellers £260,
Market steady
RUBBER'S FUTURE: WARNING
A dividend of six per cent. was approved at the 18th annual meet- ing of Gorton (Malaya; Rubber Estates Ltd., in London recently, as against 34 per cent. for 1939.
Bir Gordon Voules. the chairman, becaan said: It has been my intention to invest practically the whole of the working capital of this company in War Bonds, treating them as the equivalent of cash upon which
to make advances as and when; defeated the object of the rubber margins until dealers, brokers and
others in the trade have found it actually required for expenditure,
"On closer investigation, I find reserve idea.
practically profitless to carry on Prices exceeded the agreed
The small firms with cheaper that the Treasury require the tax able to authorities to treat all investments limits and space on ships which British Government and the In-should have gone to the reserve carry on and in the scramble an made by any company, whether in ernational Committee, made the shipment was being allocated to era of profit-stealing threatens to War Bonds or otherwise, as thereby open out here which would oust excluded from the business capital agreement with the United States Government during June and August last year.
interest in the matter and nego-another price-raising factor which led to narrower and narower price we could arrange with our bankers
tiations are procesing which. even if successful, many sal mean that many clerks will
out of employment.
be
forerd
Sir John Hay, representing the
consumers.
which
overbead
are charges.
India Ruper Paper
Bombay, Sept. 15 (Reuter).
Govt. 31 per cent. Rupee, 96-0-0
H.K. Stock Exchange
Tuesday, Sept 16. BUYERS
Canton Ins., $240.
H.K Fire Ins., $187.50.
Wharves, $97.
Hotels. $4.20.
Chinese Estates, $100 Lights (0), $7,10, Lights (N), $2,30 Telephones (N), $9. Watsons, $13.28.
SELLERS Wharves, $99. Providents, $1,50 Hotels, $4.40. Lands, $39. Electrics Rts., $14.25 Cements. $17.25.
SALES Providents, $7:45/50, Lights (0), $7.29.
FEDERAL RESERVE
RETURNS
New York, Sept. 15 (Reuter).
Aug. 26 Sept.
(0008 Omittedì
Investments
18,335,000 18,255,000
LONDON GOLD
London, Sept. 15 (Reater). Bar Gold, Fine per oz., 188/-
It, once again, became a problem the big Arms. The big firms do of the company, and such invest-
the US. Government had not intend to be ousted and theyments cannot rank for allowance or/Total Loans $10,903,000 $10,975,000 to settle and the authorities de jean only carry on by cutting down the 8 per cent approved in respect The objects of the agreement cided that all rubber should go on overhead expenses, the over of increased capital employed.
HARSH RULING were that the U.S. could be as-through a single buying agency.head being reckoned in terms of
"I And this ruling harsh, and well sured of a reserve stock in case of Consumption was rationed so that clerks salaries and staff.
in Singapore are taking what steps we can to an emergency, while the British any surplus would automatically In some and Dutch producers could be as-go to the Reserve Company. clerks with many years' service have our working capital allowed sured of a full price for some time The Reserve Company WAS ap-have received notice, and others as part of the capital of the com- painted the sole buyer for the idle for lack of work for their made that U.S. Government and at the same firms, walt anxiously for further pany in the calculation of our]
to come
Arrangements were
US. Government and
the stock would be held by the time prices for all grades were Ax-developments.
would
To build up this reserve, a Re-
*
Arms
the US, and
Come
taxation liabilities."
lability for Increase-tax.,
Bincores
Watsons......
Ch. 0.5% 1925G SBda
H.K. Wing On
E'hel Wing An
$7.20 Vibro Piling
6/3
Margmans Inv. (Loo.
1/0~~~ | Massines Inv. ¡H K. #14 Wm. Powells.
N.A. Chemicals (TK) $5 80
*Sale to Shanghai
SILVER MARKET
LONDON SILVER
London, Sept. 16 (Reuter). Buver Market quietly steady with production selling satisfying some trade demand.
Spot, 23-1/2d.
-Forward, 23-1/2d.
BOMBAY SILVER
Bombay, Sept. 15 (Reuter).
;:
HONGKONG
SHAREBROKERS
ASSOCIATION
Volume of Business Transacted
on Tuesday, Sept. 16, 1941. SALES
China Lights (0) H.K, Docks
Market-Steady. Offtake 50 bats, HK. Hotels
Indian Mint Sliver
Ready Oct. 14 Settlement ...... Nov. 16 Settlement ......
Ropes
500 $ 7.20 300 19.76
1,000 4.25
100 10.34
63-00-0
2,100 63-00-9 83-01-0 The total value is $18,755.00.
INDO-CHINA
STEAM NAVIGATION COMPANY LTD.
TO-
SWATOW, SHANGHAI, TSINGTAU, CHEFOO
and TIENTSIN
KOBE and OBAKA
SINGAPORE, PENANG and CALCUTTA SANDAKAN HAIPHONG
With regard to the outlook tor beled and the United Kingdom buy Those attempting to seek a solu-rubber, the chairman said.
'It is essential that rubber com- resold eventually in such a way ers also agreed not to exceed Re-tion to the problem, point to what
has been done in
panies should build up an amor- that it would not unduly disturb serve Company's prices.
Here it should be mentioned the United Kingdom to preservetisation reserve. The taxation au- the market.
that one of the items agreed on the "normal trade structure as thorities, however, refuse to allow Operating Services for Cargo and Passengers when Sir John Hay and US Gov stipulated in the original agree- aerve Company was formed com ernment representatives mát and ment. In New York dealers get/ such a reserve to be deducted posed of the five biggest consum-decided on the necessity of build-1/16 cent per pound, and in Lon.from profits before calculating! ers in the U.S.-Goodyear, Gooding up a reserve stick, was that don 1/8 penny, which has
"In view of our Excess Profits cich, Firestone, General Rubber
in buying the rubber, normal to be called the "service fee" paid Tax standard we can only bulld up and U.S. Rubber, who bave come channels of the trade should be by the respective governments. to be known as the "Big Five." used in order that the trade Something like this is needed such A. reserve by sacrificing the Unfortunately Consumers' de should not be disorganised. This in Malaya and government, has very modest dividend we are able mands for rubber became so great was necessary as it was realised been approached and, I under to phy. This attitude of the that the Reserve Company was that, normal trade facilities would stand from authoritative sources, Treasury seems to be unreasonable. "Some additional ruilet to rubber nable to buy sufficient rubber, be needed when the war ended. not unsympathetic. Firms and consumers--including the Big Five However, with the fixing of dealers in Malaya foresee, also, producers would sem to be a mat- -buying so much that "there was ruaximum and minimum prices considerable, trouble thead unless ter of Justice and would be of great only a
trickle available for the and making the Roserve Company more free competition is allowed. assistance to meet the diffealt Reserve Company,
the sole buyer of rubber the "nor and have made suggestions to times which lie bofore them after
government which are under con- the war, pending the re-establish The Reserve Company, was being mal trade" was 'affected.
ment of our former European- outbid by consumers and the price In Malaya the effect was that sideration.
the limit prices were virtually fixed and ret it exceeded
In the Néthorials Fast Indies, marketa. I foar too that our future agreed to originally by the British this destroyed the free market where muon the same conditions prospects will be jeopardised by and U8. Governments and, of Malaya hitherto enjoyed. This is have resulted, the "service top" the large reserves of stocks that Bourse, the Datch Government. : explained by the usual result that bystem ls, it is understood, to be are being accumulated in the
United States, Tr addition an acute shortage of when prices are fixed, invariably started shortly
All steamers borth alongsiție the Roosevelt Terminal in the French Concassion ai Shanghai, where passengers
and cargo are landed.
For further particulara
please apply to
JARDINE I
ESON&
LEPHONEXOXILIGENERAL MANAGERS
18 39/39
18.36/32 18.21/21 18,25/25 18.41
Hongkong
$18.30 #188184/1
Silver Duty Rate
The Central
Bank of China's rate on London at 18 am
37 $3)
H.K. Tramways...... Peak Trams (old).
8466
$306
$125
18.40
Peak Trains {nww},
today
#51
Star Ferries.
18.00
$24
Y'mati Ferries..
$24
17.90
was 1/2-1/2d
The Equailsation rate
was 24.
34-3/4
$7.107.30 #7.70.05 $2.30
Chim Lights (0
$7.10 87 30 87.10
China Lights (New).
$2.65
2.60/1.48 ...
per cent
23-1/2d
824
***
$244 H.K. ElectrionX. (0)
||.
Electrical New)...
214/ 14.86 H.K. Eipotrio (Rta)
Macan Electrica
Sandakan Lights........
824
$93
$14.10/12.00
Industrials
Cements
Providents, $7.45.
(1940).
Miscellaneous
Dairy Farms.......... Entertainments .........
Lands, $38.25.
Realties, $4.15.
$18
Macao Electrica
|$18.10)
#24
Telephones (ald)........
SP
Telephones (new).....
846
Cald., Macg. Ord.) E
$30
Cald., Magg (Pref.)
$1
Cauton less..
175 eta.
#17 17/06
$17
+
$10
H.E. Rope
$10.30
H., Govt. Lou
$101 4% Loan
$99 3**
(1984).
899
$98
B+%
$20.30
#61
$1.80 Constractions (old)...
80 cts. Constructions_(new)..... 16.45 Lane Crawfords.........
Nanyang Tobaoco...
$3.80
12.40
$13)
$13/13
$43 $39
$26 091
!!!
!!!
#101
$20
!!!
#7 $1.05
$8.45
$13
43
$14
#6
झर
No comments yet.
Private notes are available after approval.