1939-05-10 — Page 26

2

Wednesday,

HONGKONG TELEGRAPH

· May 10, 1939.

GERMANY SUFFERS SERIOUS

TRADE LOSSES

BERLIN, May 10.

THE GERMAN foreign trade report for the first quarter of 1939 which was published here yesterday in- dicates an import surplus of 27 million marks as compared with 43.5 million during the same period of 1938.

German imports to the old Reich alone totalled 1,289,- 400,000 marks, this being 93.4 million marks less than the total for the first quarter of 1938. It is pointed out that the decrease in imports resulted from reduced prices, since the volume showed a slight increase over 1938.

Exports from the old Reich totalled 1,262,400,000 marks which represents a decrease of 6.7 per cent. over the corresponding period of 1938.

The exchange of goods in Europe was maintained at about the same level as last year, but the overseas trade decreased slightly.

Imports from Turkey, Iran, Iraq and Afghanistan increased decidedly, although exports to these countries dropped.

4

Both the import and export trade with the Far East declined exceptionally, the Chinese imports of ores, fur and oil falling off, as well as other German exports to China and Japan.

An improvement was achieved in the exchange trade with Manchukuo, Particularly noticeable in the report was the decrease in trade with the American continent. The imports from Argentine and Brazil, which included principally Matze wood, pats and cotton dropped off sharply as compared with the past year.

Imports from the U.S. which had increased during 1938 also fell off sharply, while exports were maintained at the same level. The exchange of goods with the overseas possessions of European Powers decreased in volume, the imports declining while the ox- ports remained at the same figures. A declining tendency in the imports applied particularly to India, Nigeria and Australia. The total volume of trade also dropped between Germany and the Dutch East Indies.-Trans-Ocean.

British Revenue Increases

London, May 0. Total ordinary revenue was stated to be 268,514,988 as against £63,175,- 800 a year ago. Total expenditure, Jess self-balancing Items was £122,- 319.894 against C101,205,509.—British Wireless.

American's Death

Shanghai, May 9.

American.

THIS YEAR

CANTON INSURANCE DIVIDEND

Final Allotment Of

Lufthansa Progress Is Reported

08 com-

The annual report of the German Lufthansa for 1030 which has now $8 Por Sharo been published, announces the great development of the air mail services, HAVING paid A11 interim 530,000 kilogrammes of air mail dividend of $5 per share for being transported in 1938 1937, the Canton Insurance Pared with 335,000 in 1937, this being

an increase of 75 per cent. Omec, Limited, are to pay a final dividend of $8 per share for that In South-America the Lufthonan year, and an interim dividend of Natal to Rio de Janeiro so that the $6 per share for 1938. The entire nir mall from Germany to annual meeting will be held in Santiago de Chile is now conveyed the company's offices, 18 Pedder by Lufthansa planes, which are also Street, on Thursday, May 18, at pawn on the route from Lime to En

noon.

The 1937 account, after payment of the Interim dividend, shows

has taken over, the air route from

Paz

On the North-Atlantic service, 28 scheduled flights were carried out in 1930 between Europe and North- a surplus of $601,702.43, and it is America by the Lufthansa machines, proposed to appropriate this sum as without a single untoward Incident, follows: Payment of a final dividend thereby providing the possibility of n of $8 per share, amounting to $400,000 regular afr mail service being and to add $201,762.43 to Under-operated between the two continents writing Suspense account to close the over the Northern Atlantis, year 1937.

To the credit of this latter account, £50.000 has been transferred from the Reinsurance Fund..

The amount standing to the credit of the 1930 account is $2,174,026.54, and after paying the interim dividend of $5 per share, absorbing $250,000, it Is proposed to carry forward the balance of $1,024,830.54.

Net premih, less returns and re-

In Asia, the air service to Teheran which was formerly confined to mails, was extended to passengers in the course of 1938 and is now operated beyond Teheran to Kobal--Trans- Ocean.

Stock Market Still

insurances, for 1037 amounted to On Upward Trend

$4,263,181.02, against which losses and elalins paid amounted to $2,058,642.00.

London, May 9.

For 1938, the net premia received.; The upward movement on the returns and re-insurances, London Stock Exchange continued amounted to $3,303,705.10, and tosses to-day, being further helped by the and clatins paid as at December 31 encouraging unemployment returns, amounted to $885,988.27.

and increased buying interest.

During the past year, Sir Robert Ho Tung resigned his seat on the Consulting Committee for reasons of health, and the Hon. Mr. M. K. Lo was invited to fill the vacancy. This appolulment will require the con- Arination of the shareholders at the annual meeting.

The death is reported of Mr. William Cook Belknap, aged 50.

Mr. Belknap was an

Messrs. D. E. Clark, A. H. Compton, well known as a clubman in Shang-T. E. Pearce, J. H. Taggart and S. T. hai. He was formerly head of the Williamson now retire, but being Columbla Country Club.

eligible, offer themselves for wife. election.

18

Ho

his survived by duughter and non-United Press.

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Rumania's New Election System

home rails strongly advanced. In- Glit-edged holdings, together with dustrials were also better, and Kaffirs closed around the day's best owing to continued Capé and local support. Oils were mainly higher,

on

Among commodities, Jute weakened sharply in sympathy with Calcutta weather for the new crop.

advices indicating favourable

Wall street Reuter Special.

Was quietly Arm.-

Swift Retribution For Bomb Thrower

San Jose, May 9.

A dissatisfied relief ellent, Primo Trumbello aged 40, attempted to thow a bomb into a group of 40 persons in the headquarters of the State Rellet Administration here to- this day.

Bucharest, May 9.

The Rumanian Government evening promulgated a new electoral law, at the same time announcing the date of a general election.

Members of the Lower House will be elected on July 1, and Senators on July 2

The new electoral law marks a complete departure from the parlia mentary system which existed ir Rumania up to the time of the es- tablishment of the present totalitarian regime.

Under the new law there will be only a single list of candidates. Whether candidates on this list wilt; be nominated by the Government or by the party of National Renaiscence, the only party now existing in Rumania, is not revealed.

The age limit of persons entitled to vote has been raised. Under the new law only men, and women over 30 who can read and write are en- titled to vote-Trans-Ocean.

Japan And Totalitarianism

Tokyo, May 10.

The "Nichinichi Shimbun" under- stands that Premier Hiranuma wil shortly seek an opportunity to clarify the Government's view with regard to the difference between Totalitar- ianism

and Japan's fundamental policy.

The paper understands that opi- fon in galning strength in Government circles that ឆ clear demarcation should be drawn between Totalitari- anism and Japan's fundamental polley which is neither Totalitarian nor. Democratic, but which is bassed on the moral polity of the Japanese national structure or the Imperial Way-Domel,

The Chief Air Raid Warden in Hongkong notifies the appointment of Mr. H.. W. Leyden as Head Warden for Hongkong and Major C. M. Manners o..., as Head Warden for Kowloon.

The bomb exploded In his hands, learing off one of his arms. Some other people were injured as the. crowd fled in a panler-United Press.

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