1917-08-01 — Page 9

THE HONGKONG TELEGRAPH, WEDNESDAY, AUGUST 1, 1917.

COMMERCIAL

a

Iron and American Control of

い

Exports.

NEWS..

Shanghai Shares.

The British Steel Trade. sad agreements, both for man- clude such long forward contracts dollar rate being 72.1. Debon- The May circalar of Megre, facture and for selling, will pro as have hitherto been made. Intures.-Very few sales are made, Hanson, Brown and Co., Ltd..bably be found to be increasingly any case, it is expected that as the pat prices seem to have touched iron and steel, fuel, ore, and necessary. As regards labour, result of the action taken by the bottom. The earrest Municipal general merchants, of Middles the firm does not anticipate mach American Goverment a consider issue is going off but slowly. The brongb, commina the uansl careful trouble after the war, the rable effect on Japan's shipping French Government'e 8 per cent and illuminating review of the Istion of employers and employed industry will be inevitable.Yen Loan, to which we referred course of the iron trade sa to the in the steel trade having always Japan Chronicle.

on 22ad alt., received no rory pre-war position and postwar been good.

warm welcome on the Tokyo prospects. It is stated that, while

market but we understand that all engaged in the iron and steel

Messrs A. L. Aaderean and the underwriting bank, which trades are cotitled to congistalete

Co., in their Weekly Share Cir-were saddled with the balk of the themselves upon the results.

Some interest is using fait cular, dated Shanghai, July 21, issue, are satisfied that the market achieved under the stimulus of to how the American authorities state:We have no more comfort will absorb their holdings in the war conditione, they should be will carry into effect the proposed ing nowe to give this week than near fatare. Company Meetings, atill more encouraged by the control of exports in regard to last, the official quotations on etc.-Russo-Asiatic Bank. We are proof pow destly afforded that supplies of iron for Japan. It Change consisting, for the period, informed that a dividend of Ris. these essential national industries is said that after the proposed of five dealings in Rabbers and 30 has been declared for instant are capable of vast extension not restriction of exports was pro-ramain the steadiest market, in profits will be disposed of br 11 in other secarities. Cottons payment and that the balance of merely to supply out own claimed by the US Government temporary neede, but to obtain Japanese frm in Osaka received view of the high profits (as high placing Ela. 8,974,000 to War faller share of the trade of the from America telegraphic offers a Tla. 60 per bale in some cases, Contingencies, Ria. 347,000 to world. Afurthe outbreak of war, of sale of irou goods for forward are informed) being made on alatutal Reserve, and carrying it was discovered that the British delivery in October and Novem-yaza, but in other directions the forward Els. 4,624,000. The steel industry had been "caught ber. On the strength of this some the that is down need fear no fall.' closed since the outbreak of war, most reassuring thought is, that Petrograd Exchange has been short." It became vital to our of the Japanese importere took it existence a8 8 nation in the for granted that the American While the rate of exchange is but the latest mail quotation from struggle with a scientific and authorities would not be chary of somewhat lower, its a long long the Paris Bourse was Fos. 660. carefully prepared enemy to put granting licences for exports to

trail and may well prove a wind- Pengkalan Dorian-A dividend of forth our atmost efforts to enlarge Japan, as one of the Allies, Osing one to the point where fands 10 per cent., equal to Tls. 102 our output. The expansion has the other band, another Japanese

will again begin to secamalate pershare, will be recommended taken wach time, and is not even company is reported to have here. To-day opening rate for at the meeting to be beld on 30th yet completed, and we have been received telegram that the TF oa London was 39; the inst. Accounts not yet to hand. compelled to import from America export of shipbuilding materials vast quantities of goods which, might be altogether prohibited for bed the warnings of the past been the purpose of promoting the bate been cause of America's shipbuilding beaded, might well made at home. Happily, daring industry, though there, seems to the past two yeare, much of the be no fear of tank plates being Teeway has been overtaken, and thus interdicted. As mentioned the figures for 1916 ebow a sub- before, the Japanese Financial stantial increase in the entput, Agent at New York telegrapbed both of pig iron and steel, over that the validity of licences would those of 1915-an incresss of be only for 60 days, and that the Over 250,000 tona of. pig object of the American authorities. iron and not far short of 750,in placing an embargo on 000 tons of Heel. For the first export of shipbuilding materiale sime in the history of the British wie to secure control of Japan'e iron trade, the production of steel mercantile marine, the insinuat exceeds that of pig iron, the ing that

considerable former amounting to 9.244,457 strictiona Yould be placed and the latter to 9,047,983 toa. оп supplies to Japan. In The steel catpat is far in excess the circumstances even optimistic bf all previous records. While Japanese importe have the increase - about 54,000 tarned pessimistic, and addressed tone-in the catpat of basic open, inquiries to the Foreign Office for bearth steel let year we com farther particulars regarding the paratively small, a further and American control of experte. The Tery considerable increase may statement that licences will only be looked for this year, & fact of be valid for 60 days is generally special interest to the Cleveland taken as meaning that shipments district, where native cres can be moet be made within 60 days, advantagecuely used in the map and it is thought that if this is the facture of steel. The

case, it will be impossible to coa- course of the wer has shown be seriously depen-

信号

to

dent apon foreign ore, and the Tesolt has been a revival of in- terest in the development of Britiah ore resources. The efforts which the Government bas in- augurated to increase the supply from Cleveland are already bear- ing fruit. These war measures, obviocely, cannot be allowed to lapse at the end of the war, for that would be a wasteful and harmful procedure entirely out of! scend with the great principles

of industrial and economic re- construction which are fast being Farmulated into a settled policy witb the powerfal support of all classed engaged is in i dustry. The fature expansion and prosperity of our great steal"in- dustry are largely dependent upon the successful exploitation of our We have enor. own resources.

rеBorces in mous untouched Britain which can be economically and successfully developed and turned into steel of the highest quality. All shia work, however, requires capital, and it cannot be expected that this will be found unless the steel trade ajŋys greater security in the future. The trade languished before the war, as compared with the steel trade of Germany and America, because it failed to attract investors, and that failure to the pressure of WE9 due anfeir foreign competition, The steel industry, in the opinion of the firm, is not out for Protection, bat it does demand that its home market shall not be made the damping ground for cheap foreign teel, sold very often, thanks to Government bounties and all kinds of shipping and railway rebates, below the actual cost of "manufacture. Another vital mat- les in connection with the fatare of the steel trade is large-scale production, obviously impossible unless the trade enjoya reasonable measure of security. Under "modern conditions it is only by large-scale production that cheappeal of outpai and, thereby, the power to meet world mpetition on level terms, oin be assured. In connection with -the expansion of production, trade combinations amalgamations, ·

tbe

12-

NOW

LA INSULAR__CIGARS`

THE OLDEST CIGAR FACTORY IN MANILA

Best Quality Leaf,

Best Workmanship.

Finest Aroma. Lightest Colours.

Obtainable from all Cigar Merchants,

DISTRIBĮ"TORS FOR SOUTH CHINA;-

H. RUTTONJEE & SON.

AN ECONOMY

Which--

Fifty typewriters

an extra office, perhaps two

Or-

HONGKONG SHARE REPORT.

S-SELLERS SA-SALES; B.-BUYERS; X-NOMINAL.

OFFICIAL PRICES.

Douglases Steamboats Indos (Def.) Indos (Pref.) Shells

Ferries

Sugars

$29

BANKS.

BANK OF CANTON,

LIMITED.

HEAD OFFICE, HONGKONG

FOREIGN EXCHANGE and General Banking Fransacted.

BANKS

HONGKONG & SHANGEA

BANKING CORPORA

TION. Paid-up Capital $15,000,000 RESERVE FUNDS:

Sterling

£1,500,000 at 21-

-$15,000,000 Silver...$18,500,000

$33 500,0##

Reservs Liability of business

Proprietors.$15,000,00# COURT OF DIRECTORS.

Hou. M. $. R. Dodwell-Chairmer, Boa. Mr. P. H. Barn-Deper Chairm Has. Mr.CE. Auto F. C. Butcher. Reg. 6. T. M. Behin

it: Dubbes, Erion

LOOK POON SHAN;

Chief Manager,

INDUSTRIELLE

BANKS.

H. K. & S. Banks S.

MARINE INSURANCES. Cantons North Chinas

$665

Unions Yangtszes

$340 t. 140

$3$5. b. ex 738199 FIRE INSURANCES. China Fires b. H. K. Fires

3.

3.

INTEREST ON FIXED .DEPOSITS:

3

$143 $315

For 3 Months 3% per annum.

SHIPPING.

For 6 Months per anLum.

n.

ཅ་

$85 $18 $114 $40

For 12 Months 41% per annum

b.

1201-

0,

REFINERIES.

52

Malabons

b. MINING.

$96 329

BANQUE

Kailans Langkats

b.

3416

b

t. 15

Raubs Tronohs Urals

11.

I.

$2,45 25/6

D.

$21-

DOCKS, WHARVES, GODOWNS, &C.

H. K. Wharves b.

$75 Kowloon Docks, s. & sa. $118 S'hai Docks b.

t.78

LANDS, HOTELS AND BUILDINGS.

Centrals

5.

H. K. Hotels

b.

$95 $98

Land Invest.

$91

H'phreys Est.

R.

$6,25

K'ioon Lands S'hai Lands

7.

$33

ка

£ 80- #69

t. 1624 c. 15

West Points b..

Ewas

COTTON MILLS.

h.

Kung Yiks b.

S'hai Cottons b. & sa. t. 136- Yangtszepoos h. t. 5.75

MISCELLANEOUS.

Borneos

China Light & P.n.

DE (HINE.

Capital (14 Paid up) France 45,000,000

President

André Berthelot General Manager A. J. Pernotte.

HEAD OFFICE:

74 Rue Saint Luare, PAKIS BRANCHES in PEKING, SHANGHAI. TIENTSIN and HONGKONG.

BANKERS.

I FRANCE: Société Générale pour favoriser le Développement du Com- merce et de l'Industrie en France. La LONDON: London County & West-

minster Bank, Ltd

In ITALY: Banca Commerciale Italiana.

Telegraphic Address: CHIBANKIND.

. Interest Bowed ra Current Accounts and Fixed Deposits, Tema en application. Every description of Banking and exchange business traducted.

"M. BOUET DE JOURSEL

Manager.

HONGKONG BRANCH:

3. Queen's Building..

Tel. No. 2352

Hongkong, 14th May, 1917.

NOTICES.

E. V. D. Fan, W. L Passenden. Saç-- A. Compton. L

CHIE MANAGER Hongkar. J. Sutt, Im

MANAGER

Shanghai G. Stepben, E London Baniers-London County how

Wcatouister, Limited

Hongkong-Interest Allowed

On Current Accounts at the rate of 3 per co anham on the daily balance

UN FIRED DEPOSITS. Forment per cent per annum For 6 months, 38 per cent per azz for month per cent, petang

N. J. STABB.

Chief Manage?

HONGKONG SAVINGS BANL THE Business of the above Rank is conducted de the HONGKONG AND SPANGHAI BARKING CORPORATION. Rules may be obtained on applicat INTEREST on deposite is allowed on sa m Imem monthly balancs at Fé per cent, par 2229

Depositori may transfer, at their option, inues) el 100 de more to ite Hongkong "and Shangha Bank to be placed on FIXED DEPOSIT I cent per akum.

Uet.

For the Hongkong and Shangbal Banking Corner:

N. J. STABB.

Chief Managan.

THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA.

Tacorporated by Royal Charter föga

HEAD OFFICE-LONDON,

PAID-UP CAPITAL

RESERVE FUSD

185, 000

RESERVE LIABILITY OF Lyon.com

PROFFIETORS

FOREIGN EXCHANGE and Canara BeaÈS)

business transacted.

CURRENT ACCOUNT opened and FIID DRFOSITS received for 1 year or acorter periode races which is be quoted on application;

T. C. DOWNING,

Manage Hongkong, 11th April 1911.

THE MERCANTILE BANK OF

INDIA, LIMITED. ‚·

Head (ffre 15, Gracechurch Street, London.

Authorise Capital ................£1,500,00€ Subscribed

1,125.00

Paid Up

562.500

4

Reserve Fund

600.001

$7

$4.50

Providents

D.

$7,90

Dairy Farms

IL.

$23

Green Islands

bi

$7.15

H.K. Electrics

.

$48

H.K. Ice Co.,

n:

#151

Ropes

b.

$273

Steel Foundries n.

$10

Trams, Low Level sa.

$6.40

Trams, Peak, old n.

$9.10

Trams, Peak, new n.`

cts. 30

Laundries

.b.

$8.40

Lombar

U. Waterboats n.

$13

Calcutta

1.30 AM to

Watsons

b.

$6

Wm. Powells

S.

$6,50

Morning Posts n.

$29

8.80 10 100

to 12. W

1.18 .. to

E.00 A.K

1320 x

EVERT 18 MIN.

Colombe

10 MIN

Deihi

JB MI

Galle

Hongkong

How ab

IB MIN.

Kandy

2:5 T..

10 M.

15 MIN.

5:00 234, 14

10 MIN.

CORRECTED TO NOON WEDNESDAY AUGUST 1, 1917,

BENJAMIN & POTTS,

Share and General Brokers.

Princes Building.

Tel. address: Broker."

EXCHANGE.

2/736 2/7 7/16 2/7.9/16 2/7 11/16

..with

fifty operators. at fifty desks,

SELLING.

T/T

Demand

30 dt.

60' d/8.

4m/8...

2/734

T/T Shanghai.

Nom.

T/T Singapore

**** 111%

*****

1219%

Nom.

One typewriter, one operator and one

EDISON-DICK MIMEOGRAPH

The results are the same.

The Edison-Dick can do as much work in its line in reproducing letters and-

similar forms as the fifty stenographers and in one-

fifth of the time.

soves

The Edison-Dick Mimeo-- graph saves labour and it Its wear and space, tear is less than the wear and tear on a single typewriting machine-less by long odds. Mimeograph not only saves money and material- but patience as well and very frequently good will.

The

||

MUSTARD &

SOLE AGENTS,

DES VŒUX ROAD.

TT Japan

T/T India

Demand, India .............. Nom.

T/T San Francis-1

621⁄4

co & New York! T/T Java........... 1497% T/T Marka....... Nom. TIT Francs........... 3.6114 Demand, Paris...... 3.62

BUYING.

4 m/s. LIC.....

2/814

4 m/s. D/P

2/83

6 m/s. L/C.....*

2/81/6

30 d/s. Sydney &

Melbourne

2,814

30 d/s. San Franc-l

inco&New York

634

4 m/s. Marka

Nom

孩

4 m/s. Francs...... 3.7414

6 m/s. France...... 3.7914 Demand, Germany..

Demand, New York. 6136

T/T Bombay

PATAGO

Demand, Bombay... Nom. TIT Calcutta ...............

Demand, Calcutta... Nom. Demand, Manila... 1241

Demand, Singapore. 1114

On Haiphong

On Saigon

Sovereign

434% prem

42% prem

On Bangkok.

587%

7.60

Nom

Gold Leaf, pero

4440

Bar Silver, per o..... 39%

CO.,

SUBSIDIARY COINS.

DISCOUNT PER $100; Chinese...20 cts. places 3.4%.

Chinese...10

Hongkong 20 cta, pieces

Hongkong 10

3.34 %dis. par.

NOTICE.

DEAK TRAMWAY Co.,

LIMITED.

TIME TABLE.

LANKERS

· The Park of Enghed. The Loodin Teint Stock Hank, Limit:

ERANCHES 1—–

Karachi

Kota Bhar

Xsala Lamps

5.00

NIGHT TAKE

and, 97, 9.50 c

1106 .. every half hour. 11.00 11.45.

u every quarter si at kous.

BUNDAYS:

MIN.

20 MIN.

EVERT : MS.

18.25 AZ to

31.30AM, SO

10.30 4.

1200 No.

19 Moon to -$1.00 P.M.

LOST.

So

6.50 7.x.

€.00

2.3

6.30 .. REFR

DA ICE SET

10 N

15 MIN.

10 M:.

20 MIN,

it Mix.

30 Max.

MIGHT CARS us to Week Daya.

BATURDAYS:

Es Car at Midnight

SPECIAL CARE

BY LITEngement uz ska Çozmpany's Offion, Alexandra Buildings,

Dee Toes Hand

4400 sad panch Berets available for all anas not already fulf, runting as the time slated fa the Company'a takne zab1és, but not for special cars, can be distalzed or application at the Demipley's Olson --- No Brawon ticket will be lessed suit yayment thenfor" bas been made in Bank Notes or by Claque or Compradora order repressoting Kanx Kol."

JOHN D. BUNPREETS & CO.C

THE CHINA PROVIDENT LOAN AND MORTGAGE CO. LTD.

(Capital Paid up...$1,250,000.)

Leans on Mortgage of Hot Property, du Geoda povedati BtorSKŁ Jévanom made no Merchidee. LANDA TRAĞA On the ProviderBystem.

ZKUSTIZ, FECUTOR OF WILLE AKTORENY, an Undertaken wat Bramerać. Cates and Particulars in application! ..

Zo the Office of

"SHEWAN, TOMES & CO.,

General Managers.

MARTIN'S

APIOL &STEKL

PILLS

* Prende Kansedy zał glirregularities. Chemists J SAGAR Akys kang &. SEE M Martialis in the toum ào thank then shan Bapt sam stany Jersenlerity of the byłam a Simely dose mer be adminlassted.

@hce>

1Į Chamala and Moran sall Cham breng jas. Viorid, or pot free m MASTER, Özerint, Korthampton, Eng.

MARTIN'S APIOL &STEEL PILLS

Pors Lock (Mauritius.)

Madras

Feenag

Racroon

Shanghai

Stagepos

HONGKONG BRANCH,

Every dricription of Eashing and Eamesy business acted

Interested on Current Accounts as per cagi per agrum on Jaily Balances, and on Fixed Depcer st rates which may be ascertained on applicacion

C. CHAMPKIN,

Acting Manage).

INTERNATIONAL BANKINQ

CORPORATION.

HEAD OFFICE-

Wall St, New York

LONDON OFFICE:

it. Bishopsgate, I

CAPITAL & SUBPLUS -U.B. $6,500,001 UNDIVIDED PROFITS UB. $1,010.061

BOMBAY CALCUTTA CANTON

CEBU. COLON HANKOW HONGKONG KOPŁ

LONDON MANILA

US. $7,310,001

FAN PEDRO

DEMA ORI-

MEDELLIN SANTO DOMINGO

PEKING.

PANAMA

PUERTO

PLATA

SAN FRANCISCO

SHANGHAI

SINGAPORE

TLENTSIN YOKOHAMA

BRAN HES:---

Through its close affiliation with The Nation City Bank of New York, the Eark is able to offer t Services of the Branches of that fastitacles to Cuis South America, and elsewhere, nemely=W --

BAHIA, BUENOS AIRES, GENOA, HATANA MONTEVIDEO. RIO DE JANEIRO SANTIAGO DE CURA, FAFTOS, SAO PAULO, PETROGRAD VALPARAISO,

All kinds of FOREIGN & LOCAL BANKING BUSINESS intacted.

CURRENT ACCOUNTS opzed and FIXES DEPOSITS received at rates to be ascertaised as application.

GEORGE HOGG.

Колект

Hongkong, 26th September, 1916

THE

YOKOHAMA SPECIE BANK

LIMITED.

Established 1880. Authorised Capital Yen 48,000,000

Paid-up Capital.... Reserve Fund......

36,000.00

21.300,000

Féad Office.-YOKOHAMA,

Brancker Antung-Hales Putter

Calcutta Changchun Dairen Fengties Barbin

Кове

and

Agabelen Naguald Nowchmans Bow Lots Onks Faking

Asther

Projan (Poe

Haskow

San Francis

Honolula

Shanghai Hydney Singapore Tebing Titles Tolga

Tatzanto

Londo

Iyo

Log Angelos

Tangie

lerostalowed on Currans Accounts. Depen

rooved for Exod perduds as rates to be obtaine

an application.

FISHI ONO, Ma:

"Hongkong, 18th Jul