Commercial.
any definite step could be adopted, conditions have improved in Chins and prices bave risen. If these prices could be maintained it is doubtful if the proposal 10 work short time in the mills The situation in the Mid-would come to anything at all. American market is one of great
Cotton.
THE HONG KONG TELEGRAPH, FRIDAY, JUNE 12, 1914.
CANTON NOTE REDEMPTION.
Pointed Comments by Shanghai paper.
Banks
"INTERSATIONAL BANKING
CORPORATION.
"Band Office-6o, Wall Street, New Yor
London Office36, Bishopsgate, KC.
BRANCHES :-
Bombay
Calcutta
Casion
Caba
Colon
Raspire Hongkong Hankaw
Capital and Surphys
transected.
Banks
I/T
HONGKONG & SHANGHAI Demand risen
BANKING CORPORA-30 d/e ...........
60 d/s ******
TION.
7
Paid-up Capital.
Kobe
Manlle
Mexico
RESERVE FUNDS:
Paking
San Francisco
Shanghai
Sterling
Valenkama
Gold $7,000,000 ul. 1, à 10,000
EVERY DESCRIPTION OF BANKING BUSI CURRENT ACCOUNTS opened, on the mine.
DEPOSITS RECEIVED, Axað, for one your”, KË
Per Ragam, of for shorter periods, at rates, which
be ascertaleed on application.
DILLS NEGOTIATED and COLLECTED,
MAI and TELEGRAFEIC REMITTANCES
Sada
After a long spell of inactivity uncertainty at the moment says rather a large business was done;
Contrary to anticipations, says the N.O. Daily News of June 6. in local mill garn during the Prices have gone up consider-period. Business is reported in the N C. Daily News, the progress ably owing to the low percentage about 10/15,000 bales. Although of the Arrangements for the -74.3-of, tho Agricultural prices have improved, the im-redemption of paper money in Bureau Report. For years past provement has not yet been com- Canton, and the country general- the percentage used to remain mensarate with rise in cottonly, is not altogether satisfactory.NESS round about 78/79; and the prices. Business has been dine As mentioned in these colamus a serious drop, especially when the on the basis of the following short while ago, an attempt wAB X presont season's crop is by no prices: No 108, s. 811/83; 12.mado by the Government, with means a good ono,, has had the Tle. 871,80; 148, 90/913; and gratifying results in Canton, Hankow and a few other place. natural tendency of rushing up 18e. 89/05.
Very soob, however, there arogs n prices. Weather conditions are
Government deadlock. The reported bad in Texas and Okla- homa, where there has been too
appears to have fixed the percent- much rain as also a spell of cold.
the notes. In Canton, for instance, age of the redemption value of The crops are also late by about
it would like to buy back the notes York quotations are 13.20 cents
for 50 per cent. of their face valuo. July and 12 34 cents October
The argument evidently is that the noteholders should jump at an offer like this, as the notes were worth much less, only a few weeks
three weeks.
The latest New
The latest Liverpool quotation is 7.74d. (spot).
Bullion.
a
ago.
is
Mesure. Samuel Montagu Co.'s weekly circular dated Lon- don, May 14, states that "about €700,000, arrived in the form of bar gold, for which there was demand from France. In the absence of competition, the price fell on Monday to 77/01g, and on A considerable advance has taken place in local cotton prices Tuesday to the minimum of 77/9, per ounce standard. Owing to a during the week. The farmora rise in the French exchange yee- unfortunate, of course, that the
It is, however, bad finance. It have been selling ouly what was terday, remittance of gold to that Government which now has to re- absolutely necessary, and they. have been able to hold on for country ceased to be profitable, drem these notes has had very
for the time being, as an exchange to share in the issuing of them. better prices. With the improv ed demand and the rise in Mid-operation. The shipment to Iulia But a promise to pay a certain is £204,125. The net efflux slur amount should bo scru-
was £52,000."*
pulously adhered to, especially by ing the week
"Tho sum of £200,000, în guld i
n Government which is seeking was engaged in New York for to obtain the confidena of the The other shipment to Berlin, ant of 100 people it rules over. 000 for shipment to Paris alternative is that the Govern
Tho net import of gold into went should offer to pay the Indin for the month of April, market value of the notes; but of 1914, was £1,205,633 (approx-course, in such case, the nurkot mately).
Americans the farmers have
put up prices and the rise during the past few days has been as much as 15 per cent., in a few in- stances. The available stock will
be barely suflicient to meet the needs of the local mills till the coming of the new crop on the market. If exchange continues at this rate the local mills will
have to depend entirely on local catton, as it would be impossible to import cotton from India or other places with profit,
Piece Goods.
lit-
LETTERS OF CREDIT and DRAFTS granted
all the principal cities in the World, THE BANK's circular letterS OF CREDIT are available nil over the World
COMMERCIAL LETTERS OF CREDIT larusd.
$15,000,000 | T/T Shanghai
T/TBombay
Exchange
142% 30d/s.S'ney & Melbournel/111/2
-14236 30 d/s,San F'co & New York 474
Selling
T/T, Marks
gorror"
195
.1/10 19/16 | Demand Germany. ..1/1036 T/T. Frands ...
1951
2.39)
1/10 15/16. On Haiphong, Ha nom
1/10 15/16 On Spigen -1/11 ........7434
nom
On Bangkok
81.
.
Buving
Private 30 d/s sight S'hai 75%
4 m/s. LIC
1/11 1/4
T/T Singapore
8174
4 m/s, U/P
1/11 3/8
T/T Japan
93
|6 m/s. L/C
„1/11 3/8 ·
T/T India
Demand Bombay
.14294 m/s. Marke
...1.993
T/T Calcutta
„14216 | 4 m/s. Francs
........441/2
Demand Calcutta
142316 10/8. do
.2.46 1/2
Demand India
....14234 | BarSilver. ready
.26 1/8
Demand Manila.....
„Gy
forward
.........26 1/4
Reserve Liability of T/T. Java
Proprietors
$32,650,000
T/T. San F'cu & New York 4636 | Gold Leaf per tael Demand, New York 46) Bank of England rats
1151 Sovereign
.54,60'
10.40
..$15,000,000
Subsidiary Coina.
Discount per $100:
Malwa, Now
£1,500,000 at 21.
$15,000,000
Silver...$17,650,000
COURT OF DIRECTORS.
PURCHASE and SALE of Stocks Hon. Mr. D. Landale.-Chairman, Chinese...20 cts. pieces $10 7/8
W. J. Pattenden, Esq. Deputy Chinese...10
c
TRAVELLERS CHECKS said and cubed, -
EORGE HOG0, Manager,
Queen's Road, Hongkong
Hongkong, 1st Nov. 1012
THE YOKOHAMA SPECIE BANK
LIMITED.
Established 1880.
Paid-up Capital. Authorised Capital Yon 48,000,000 Reserve Fund.
414 и
H
30,000,000 18,900,000
Head Office.-YOKOHAMA,
Branches Jung-Halen
ات ايديال..
Calcutta Changchun Dhiren Fengslen
flarbin
Hankuw
ilastutu
Kolm
Liu-Yang
Lond B Lyons Tsingenu
Agencies at Nagmak i Newchwang New York
Otaka
I'ckia
Ryuinn (Port
San Francisco
Arthurf
Shaighal
Tidding
Tient la
Tokyo
La Augeley Trington
Interest Allowed on Current Account. Liepos té received for fixed perials at rates to be
value would scan reach the face bied aapplication. value. the untment redemption was Bariously attempted.
EISHI ONO, Manager. Hongkong, 6th April, 1913.
Chairman.
S. H. Dodwell, Esq.
G. `T, M. Edkins, Esq.
¤, S. Gubbay, Esq.
P. H. Holyoak, Esq. C. Landgraf, Esq., F. Lieb, Esq
J. A. Plummer, Esq. · Hon. Mr. E. Shellim. H. A. Siebs, Esq. Ad. Widmann, Esq. CHIEF MANAGER: Hongkong-N. J. Stabh ACTING MANAGER. Shanghai-J. D. Smart. London Bankors-London County and Westminster Limited.
Hongkong.20 Hongkong.10
+
$1136
$9
$9.15/16
Opium Quotations
% Malwa, Old
May 14 $8,200 per p
8,300
"
Patna, New 9,325 per che
Patna, Old........ 9,200
Benares, New... 9,950
Benares, Old......... 8,925
TO-DAY'S SHARE REPORT.
S-SELLERS SA-SALES B-BUYERS N-NOMINAL
STOCK & PAID OF VALOW.
BANKS..
CLOSING UTION.
$820 b.
Hongkong & S'hai $125
£84
MARINE INSURANCE,
Cantons
$50
310
b.
North China
£5 T140
Unione
$100 $775
£50
$194
1,
.. $20 $151
Hongkong-Interest Allowed: Yangtzos
On Current Account at the rate of 2 per cent. per annum on the daily balance.
ON FIXED DEPOSITS. For 3 months. 24 por cont. per
annum. .
For 6 months, 3 per cent pe.
annun
18
For 12 months, aunum.
THE CHARTERED BANK OF INDIA, AUSTRALIA AND
CHINA.
Incorporated by Royal Chaiter 1853.
די ་
FIRE INSURANCES: China Fires
LAST DIVIDEID AND
ATE.
£2&5/-b.atex 1/13/16)
equal to $23.29 for 34 year ending 31/12/13
Final of $3 a/c 1917, In-
terim of $18 a/c 1913 Final of 10 p.o, making
20 p.c. for 1912 Final of $20 making $501
for 1912 and Interim of $30 for 1913 Final of $12 mak. $15 for
1912 & Int. of$3 for 1913/
$10 for 1912
b.
$27 for 1912
$1 for 1906
$50 $380 Hongkong Fires SHIPPING. China & Manilas $25 $8 b. Douglas Steamship $50 $30 .b. Steamboats
$15 $261 b. Indo-Chinas
"Shell" Fransports £1.193/6
(Preferred) £5 864 (Deferred)
b.
£11
b.
{$10 $16
REFINERIES. China Sugars Luzon Sugars
The Director of the United States Mint estimates the gold
per cent per $455,000,000, or 203,850,000. of the Government's proposal is production of the world for 1913
One of the arguments in support
A. G. STEPHEN, The gold output of the Trans that the United States did not to
Acting Chief Manager, vaal mines for April, was deem the greenbacka, which it. €2,904,024. compared with had perforce to issue during the
HONGKONG SAVINGS BANK This market has felt the in- c3 334,358. for April, 1913."
£2,917,346 for March 1914, and Civil War, at their face value.
THE Business of the above
Bank is conducted by the "Star Ferry" There is a certain amount of truth fluence of the improved situation.
With reference to silver the is this: but conditions in Okina in the North.. A moderate amount circular contains the following: to-day and in the States in 1804
HONGKONG AND SHANGHAI HEAD OFFICE.-LONDON. BANKING CORPORATION of business has taken place;
"The market has been sp-are not identical, the financial Paid-up Capital £1,200,000
Rules may be obtained on ap clearances are algo improving athetic, and business, as a ralo, situation in the United States Reserve Furd...
...£1,800,000 plication... very satisfactorily.
B small scale. In
INTEREST on deposits is al- There was a decided change these circumstances, prices re-a tithe as bad as that of China
after the Civil War never being Reserve Liability of
Proprietors £1.200,000 |lowed on the minimum monthly for the better at all the auctions sponded sensitively to any excess to-day. The principal object of
balances at 83 per cent: per an- last week. The quantities put of buying over selling, or vice the Government cannot be to buyers Banking business trans- Dopositors may transfer at their
FOREIGN EXCHANGE and ncni-W up were unchanged at all the veres. On the whole, buyers have back all the paper money, in anctions, and prices were all up, been loss in evidence, and price circulation; it could not do that
option balances of $100 or more CURRENT ACCOUNTS open to the Hongkong and Shanghai were disposed to. Bag in the even if it wished. What it really ed and FIXED DEPOSITS re- Bank to be placed on FIXED should strive for is restoration of ceived for 1 year or shorter periode DEPOSIT et • per cent. per earlier part of the week.
confidence in itself.
at rates which will be quoted on Jaunem. application.
For the Hongkong and Shang Wh. DICKSON, hai Banking Corporation,
Manager.
A. G STEPHEN Hongkong, 11th April, 1912. 12.
Acting Chief Manager.
as a rule.
Silk,
This market has been very dull for some time past. Reports are conflicting as to the percentage of the props, but Chinese "dealers state that both the Wunieh and Shaoshing crops are short. What- over may be the cause, arrivals! are not very active.
од
from the Indian Bazsare during "A fair inquiry has arisen the last day or so, and has im- parted more tone to the market,
"Some Mexican silver, doubtless refined and exported from Mexico
acted.
In Less Time to Paris. At a conference in Paris bel City long since and delayed in tween representatives of the transit, has been sold during the Brighton Railway Company and week. This is likely to be the last officials of the French State sale.from that quarter for the pre-failways many improvements in THE A clear conception of the the servicos between London and relative position occupied by Paris, via Newhaven and Dieppe, Mexico as a producer of silver can were arranged for next year. The be obtained by supposing a bar, morning services from London 1000 oz. in weight, to be composed and Paris will be accelerated by
sept.
Notices
CHINA
DEUTSCH ASIATISCHE
Capital Fully
BANK.
MINING,
$100 $79 $100 $28
LANDS, HOTELS & BUILDINGS
b.
Chinese Engineerings £137/6
nos
£1 301- Raubs !!
£1 $3
$50 $84 Kowloon Wharfs DOCKS, WHARVES, A DODOWNS. H.K.&W pos Docks $50362h sa. Shanghai Docks T. 100 (58) Hongkew Wharfe T. 100. T. 974 b. Anglo French Lande T.100 T.94
Hongkong Hotels $50 $125 Hongkong Lands $100 $114 80. Humphreys Estaten $10 Kowloon Lands
$44
Shanghai Landa T. 30 T: 90
West Points. $50 $72 b.
Manila M'pole Hotel P.10 F. d
T."50 T. 126 Ewoe
IT, 107 Shanghai Cottons
Laou Kung Mow Kung Yik
$30
73: sa.
In spite of the fact that ex- change has dropped, prices asked
PROVIDENT by dealers are such se not to
LOAN AND MORTGAGE. permit of any large volume of
CO., LTD. business. During the past season
(Capital Paid up...$1,250,000.) prices have advanced consider. ably, mainly owing to increased demand and the abortago of the
Loans on Mortgage of House Pro-Berlin of metal drawn proportionately about half an hour in such party, &c. European crop.
from the different countries which direction, and
Goods received on Storage. however, prices dropped, owing contribute to the world's supplies, service will be run during the Loans made on the Provident
Advances made on Merchandise: to over-production in Japan, Basing the figures on the relurue
: which exported
very nearly
System. 200,000 bales last year or about for 1911, 350 oz would be of services another fast turbine (Bates and Particulars on ap-
plication). double the total of Chian. But Mexican origin, so that the. 1,000 steamer, to to named the "Vez during the close of April and the bar would shrink autoantical sailles, bas been ordered by the boginning of May prices recovered ly to 650. oz. if Mexican supplies State Railways from the Forges TRUSTEE EXECUTOR Direction der Disconto Gesell- Hongkong Cottons 810 874 and buying was only done for entirely ceased. 267 oz. would be el Chantiers de la Mediterranee.
At the clona,
immediate needs.. suming markets
from the soil of the United States
The con-
of, America, and 145 cz, from that calling aro a halt at present, as it is not of Canada. Thus, 762 oz -more than three-quarters of the bar- certain if fashion will still con- tinue favourable to the silk mar- would be obtained from the North ket. Moreover, there is little American continent alone.
summer
mouths.
un afternoon
Notices
For
tboso
"The remaining 238 oz. would WANTED-RAILWAY CHIEF chance of a abortage in the probe provided as follows. 75 oz. STOREKEEPER FOR ducing countries in Europe. In
HANKOW. any case, unless the dealers reduce from Australasia, 75 oz. from their prices, there is little chance Europe, 82 oz. from Scath and of any notable increase in the Central America, 22 oz. from
Asia, and 4 oz, from Africa. volume of busİNO88.. -
Yarn.
The Office of
WILLS, ATTORNEY, &c., Undertaken and Executed.
SHEWAN, TOMES & Co. General Managers, Hongkong, 19th March. 1908. 3 PEAK TRAMWAY CO.
LIMITED.
TIME GARLE.
WEEK DAYS.
KO.DO A.M. to 11:30 AM 20 1845 PM
1.00 a.m. to
1.00 AM, to
Lão AM. Every 15 Min. 10.00 AM.
10 Ma
*
*
25 HI,
30.43 7.3. to 1.35 PM, to
I 19 ..
41
1.45 PM
26
as pe
J
1.15 PM to
500 120,
T
age,
1.107.1
+
TO M
for the APPLICATIONS
position of Chief Store- "The way in which the bar keoner will be entertained by the would have to be divided in pro-undersigned. Applicants.pre». The Indian yarn market has portion to the consumption of the ferably British, to state been fairly active during the past different continents is more diffi- previous experience, salary ex- ten days, says the N. C. Daily cult to ascertain, for statistica pected, and to, supply copies of
testimonials. News of June 8, and business in both of coinage and manufacture about 3,000 bales is reported include old material utilized during the period. During the afresh, and, though the total Jatter part of the week, importere amount used for coinage is fairly were poi anxious to part with their constant, its distribution stooks at present prices, and regards different countries varies business, therefore, has been year by year.. curtailed to a certain extent.
| ដែន
Managing Director.
CANTON-HANKOW
RAILWAY, Hupei-Hunan Section,
HANKOW.
NOTICE.
VICTORIA RECREATION
CLUB.
1.00 7.M. 20
NIGHT CAIL,
Big and M. §:30 PM, to
100 very half bour,
1.00 .. 15.45 PM. avery quarter of an hour.
SUNDAYS.
11,00 A
Paid-up...Sh. Taels 7,500,000 Head Office.--Shanghai, Board of Directors-Berlin. Branches: Calcutta Canton Hamburg Hankow Kobe Peking Singapore Tientsin Teinenfu Tsingtau Yokohama. LONDON BANKERS: Messrs. N. M. Rothsohil & Sons. The Union of London and Smith's
Bank, Limited, ! Deutsche Bank (Berlin), London, Agency.
-COTTON MILES.
T. 80
111}
8.
BO.
b.
2.5 24638 3
schaft.
China-Borneos Dresdner Bank.
$12 $11
$4 INTEREST allowed on Current Light and Powers $101
DEPOSITS received Account.
Do. (Spec. shares)$1} on terms which may be learned China Providents 810 $8
$6 $37 on application. Every description Dairy Farme
$6 of Banking and Exchange busi- Green Islands $10
Hongkong Electrics $10 1840 ness transacted.
Hongkong Ices $25 $195 MAX GUTSCHKE
Manager. [2 Hongkong Ropes Hongkong, 9th Oct., 1911.
Langkats
$25 $22 Morning Post Peak Tramway $10 89
Do. (now) $190 ots. 6. 1,125,000 Rongkong Electric Trams 9/3
562,500 465,000 Philippines
THE MERCANTILE BANK OF
INDIA, LIMITED, TERT
Authorised Capital......£1,500,000 Subscribed
+1
Paid Up
Reserve Fund:
7.15 AM to 10:50 LIM. ETERg
19 Miya)
10 MIN.
H
15 MM.
H
Io Mp
#
LO MIN
19 Ma
..
10:10 A.. to 11.30 .. to 21.00 NOK
11.00 NON IN XÃO FM, 2.00 F.: 105.00 .3 4.00 7.24, to 5.00 1.000
to Min.
6.00 ) to 7.00 3. 1,30 .. 1:00 PM to NIGHT 'CARS as o3 Wesk Days.
SATURDAYS
Extra Car at t midnight."
SPECIAL CARE
tip Arragement at the Company's (lice; Alexander · laŭding
Des Voeus Road.
SINGON & CO.
BANKERS:
Bank of England. London Joint Stock Bank,
-Limited."
Interest allowed on Current Ō-: counts at 2 per cent per annum on Daily Balance and on Fixed Deposits at rates which may be ascertained on 'application. "
$10 1824
g. 10. T52
$10 $5 H. Price & Co., Ld. $10 $6
Pre- Societe des [forred
Pulpeset .......... $50 | #20 Faplerteries paid du Tonkin pup: $50
Benefit $200 Shanghai-Sumatras T. 20T.150
$5 $5' Steam Laundry His United Asbestos)
$10 Oriental Agency, $914 b Id. A. R. LINTON United Asbestos 110 $300
Manager.
Founders Shares Union Waterbost"⠀ $107) $20
Welsmann, Ltd.
$10 20 $107.30 Watson William Powell
"One thing is very certain, Prices have not improved very Asia, which only contributes 2 much or iu proportion to the drop oz. of the bar, absorbs the lion's in exchanges but they are about share, and is prepared to utilize, Tls, 3 to Tle, 4 over quotations of in one form or another, over 500
oz, of the contents. a fortnight ago.
"The stock in Bombay has THE First Aquatic Fate of the Season will take place on A fairly large business was also done in Japanese yarn.
risén from £240,000 to £290,000. Saturday, the 13th instant, com- Prices have improved locally by about The up-country demand is mencing at 9 pm. SHARP. A Tle: 5/7 over last week's quota reduced from 225 to 125 bars a Regimental Band will be in TRON, STEEL, METAL, and BARD-
attendance.
WARE MERUHANTS. Wholesale tions: This advance was due to day,AN
THE ALEXANDRA CAFE A shipment of £50,000 has Admission: Gentlemen $1.00 and Retail Ironmongers, Pig Iron and the rise in prices in Osaka owing
Ladies and Children 0.50 Foundry Coke Importers General Storet Cannot be Banten, if Equalled
kaza and Shipohandlers, No. 35 an to the proposal to work short time been made from San Francisco to
FRANK LAMMERT37. King Leong Street, (End Street wad For Bread, Cakes, Confectionery in some of the mille. But before Hongkong during the week."
Hon. Secretary of Central Market) Telephone Fe 316... maale, with
Established A. D. 1880.
Bent
b.
$2.50 for year end'g30°6′19 Final of $1 for halfl
year ending 31′12′′13 ··· 13% Interim a/c year.
∙1913, on preferred
shares
(Interim of 1/- making 2 for 1913 Coupon .No. 21....
$1.70 per share and bonus of 30 cents per share for year ouding 30°4′13 $3 for 1912 $3 for 1997
Interim of 5 % Coupon No.
3 account of year and- ing 30.6.14.
Int. of 1/6 mak, 8/6a/o.19 1/2 for 1909
$5.50 for year 1913 $3 for 1913
Tie. 3 for 1912
Interim of Tie 3 for 1913 Tls. 6. 29'2'10
$7 on old shares, $3.50). ...on now shares for
year 31'12'13
8314 for 14 year ending
31 12.13
50 cents for 1913
$2.80 for 1913
41
Interim of 5 p.o. for
year ending 30'6'13 $8.25'
for year ending. 31.12.13
15 per cent. for 1910
Tls, 15 for year ending)
31°10'13
Tls. 10 for year end-
ing 30'6'13.
T.12 foryearend'g31'12′12 Tis. 1 for year ending)
30°11'13 50 cents 31.7.08
$1.20 for 1933
10 cents for 1913
$1.30 for year end'g 31:7′13 40 cents for 1911773
$1.80 per share for 19 3 $7 final making $9 for 1913 $2 for 1913
Interim of Tla. 1 mak- ling Tis. 2 a/o 1913 Мопе
80 cents on fully paid"
shares and 8 cents on $1 paid shares for year ending 30,4.14.........
Interim of 1hd. per shäre
for 1913 None
$1.50 for 1910,
None
No dividend this year 50 ots. for year endig 31.5.12 (20 por cent. per ordinary eharo for year ended 31*5*1913
$1.25 per share for year?
onding 3112 1913
25 per cent for year
ending 31T11
70 oents for 1913
19'50 ets: yearending 4.80.13
WRIGHT AND HORNBY
tu sargo pan. Jund, insura General brokážu § Des Voeur Band Central Tal, add s006 Roegiti
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