THE CHINA MAIL, OCTOBER 26,
WALL STREET PRICES SKY-ROCKET: DRAMATIC AFTER-WEAKNESS RALLY
New York, To-day.
་
BANKS
THE CHARTERED BANK
INDIA AUSTRAL
CHINA
HEAD OFFICE
LONDON
C2
38, Bishops
Paid-up Capital Reserve Fund
tors
BANKS
HONG KONG AND SHANGHAI RANKING CORPORATION
£3,000,000 Reserve Liability of
,000,000 tors
£3,000,000
Manchester Branch, 71, Mosley Street, Manchest Agencies and Branches:
Prices of leading stocks on Wall Street sky Reserve Liability of Proprie rocketed as much as from five to ten dollars in frenzied midday trading in which buyers were faced with a shortage of offerings and literally stampeded in the effort to acquire stocks.
Bangkok Batavia
Calcutta Canton. Campars Cebo
The advance was all the more dramatic in view by of the weakness of the market at the opening, but as soon as short interests attempted to cover, they bo found the greatest difficulty in buying.
The rally started after an order for 5,000 Chrysler shares had beer received, and it was found that no. sale could be arranged
It was nearly an hour before the transaction could be completed, and then at a price $334 above the pre vious sale.
The turnover in the day's trading was 2,340,000 shares-Reuter.
MARKET REPORT"
TIN QUOTA
REDUCTION
PROBABLE
London, To-day.
Haiphong Hamburg zamkow
For Bost
Saigoo
York
Tongk
(Banket)
Poking) Farang:
Tringto
Tokobama
Zarabomaga.
- Foreign Exchange, and General Banking businem transacted.
Current Loccumbe opened and Fixed Deposita recaired for one year or shorter periods at rates which will quoted on application
The Bank's Fload Offon- Za Landon undertakes. Executer and Truston. business, and tỷ clažna, recovery of British Income Tax overpaid, terms which may be ascertained at any of its Agencies and Branches.
R. W. ROBERTS,
Manager.
Hong Kong, 1st January, 1935.
S. E. Levy and Company received the following report this morning- Following yesterday's meeting THE BANK OF EAST ASIA, LTD.
-The volume and the extent of to- of the International Tin Commit- day's gain can reasonably be exfee it was announced that the Authorised Capital $10,000,000.00 plained by anyone of the following Committee considered the ques-Paid-up Capital
tion of fixation of the quota for Reserve and
Profits
reasons.
(1) technical grounds;
commitments;
the first quarter of 1938.
quota
(2) rumours of fears of higher
On review of all the information margins for short sales, which in-at present available, they reached duced short interests to cover their the conclusion that the
should be 85 per cent, but a defin- (3) expectation of some specialite decision would not be taken development at this week's United until the meeting on December 10. States Steel Corporation and Chry-
Reuter is reliably informed that
the
sler Motor Company meetings. the Committee, in stating that the In the absence of any likelihood first quarter quota should be 85 of a sudden improvement in
per cent, based on present inform- rear-term business outlook, the sole ation, implies that they are pre- apparent explanation for to-day'spared to reduce the output at the strength would seem to be antici-annual rate of 25,000 to 30,000 pation of political news having fav tons-Renter.
on Industry:
ourable implications Such hope is without sufficient foundation just yet to warrant any change in the policy of limiting fresh purchases to weakness and selling part of the recently acquir- ed holdings on strength.
LOCAL SHARE MARKET
Following is the list of changes and enquiries in local share quo- tations this morning:-
BANKS
Hong Kong Bank $1570 b.
INSURANCES
Union Ins. $506 b.
SHIPPING
H. K. Steamboats $9 s.
Indo-Chinas (Pre£) $51 b.
Indo-Chinas (Def.) $43 h.
DOCKS, WHARVES, GODOWNS,
METCA
H K and K. Whaves $112 b. H. E and W. Docks $2780 h, $28 sa Providents (Old) $2:20, by $2.20 sa. Providents (New) $322 b..
LANDS, HOTELS & BLDGS.
H. K. and S. Hotels $5.30 b., $5.30/-
35 32
HK. Lands $31 b.
PUBLIC UTILITIES
HK Tramways $131⁄21⁄2 b..
Star Ferries $81 b.
Yannati Ferries $242 b., $242 sa.
China Lights (Old) $112 h; $1160/-
85. sz.
China Lights (New) $11 b.
HK Electrics $54% b."
Telephones (Old) $25% b, $253⁄41⁄4 Telephones (New) $9 b..
INDUSTRIALS
Cements $12:55 b
STORES, &C. Dairy Farms 24.60 b.. Watsons $4% b
Wm. Powell, Ltd 40 cts.
CEPEMISCELLANEOUS EL K Govt. 4% Loan 6%
LOCAL DOLLAR
The demand rate of the Hong Kong dollar this morning was 1/27/8.
"Spot" silver was quoted at 19. 15/16 and "forward" at 1978.
The London on New York cross- rate was quoted at £ US $4.9507 and the New York on London rate: at US$495-1/8.
NACET BLADES
NACET Blades bring you that uniform quality never before possible in low- priced
on every
HADE IN ENGLAND
ZORS.
Undivided
$ 5,598,600.00
*2,776,726.75
HEAD OFFICE: HONG KONG.
18, Des Tear Boad, Central
BOARD OF DIRECTORS ---- Bou Siz Shou-son Chow, Chairman; Li Koon. Chan, E. Kwok Pag. Wong 120 Tong, Esq. Chan Ching Shak. Esq., L Las Sang, Eag, Wong Che Son, Esq., Em Ying Po, Esq, and Fung Fing Wah, Esq.
Ámcy
Faz Tung Pa, Esq., Chief Manager. LE Tan Fong, Esq.,“ Manager BRANCHES AND AGESSČIES
Malborzzzsa
Batavia Bambay Calcutta Canton
Haiphong Hankow
Kobe -Kowloon
San Francisco
Mentaka *Tokyo
-Yokohama
Every description of Banking and Exchange "business" trapsscted. Loans granted on approved
•securities.
Cuzyană Ansounds opened in Local Currency. and Fixed Deposits Iscaived for coeyer, ke shorter periods (in Local and: Foreign Currencies on tente which will be quoted an applica
Safe Deposit Boxes To Let
KAN TUNG-PO,
Chist Manager.
THE WING ON BANK, LTD.
Head Office Hong Kong. 26, Des Voenix Road, Central Authorised Capital $10,000,000
LONDON BANKERS:- Westminster Bank, Ltd.
000.000 20,000,000
5,500,000
$10,000,000
$20,000,000
FEAD OFFICE: HONG KONG.
BOARD OF DIRECTORS.
G. Miskin, Esq.,
Clairman.
Hon Mr. M. T. Johnson,
Deputy CharmBIZ
JAK, Bonfield, Esq. AE. Compton, Eaq, S. E.Dodwell, Eag J.B. Masson, Esger
#7. S. Morrison, Esc
How: Mr. J. 3. Eaterson TE. Pearce, Esq. A.... L.. Shields, Esq.,
Sir Vandeleur M. Graybum,
Chief MaszPRETİ
BRANCHES.-
AMOY
KOK
·FOOCHOW
FATPHONG
HAMBURG HAŃKOW
HARBIN
HONGNEW ILOILO
JOHORE
KORE
KOWLOON
KUALA LUMPUR
LONDON. LYONS MALACCA. MANITA
LEW YORK. PEIFING PENANG BANGOON SAIGON SAX FRANCUS SHANGHAT
SINGAPORE SOURABAYA,
SUNGET PATANI
TENNISEN
TOKYO ISINGTAO YOKOHAMA
Current Accounts opanad in Local Currency and Fixed Deposita requited.. for one year or shorter- sperioda in Local Gemency and Sterling on tesma:
which will be quoted on: application.
ALSO up to date SAFE DEPOSIT BOXES various sizer:TO LET,
Hong Kong, 1st March, 1997.
HONG KONG SAVINGS BANK
The Business of the shore Bank is conductać. by the HONG KONG AND SHANGHAI BANK ING CORFORATION. – Rules may be vbíained --on' spplicatic.
FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.
V. K. GRAYBURN,
Chist
Hong Kong, 1st March,
THE YOKOHAMA SPECIE BANK
LIMITED
Established 1880
Capital (fully paid-up) Yen 100,000,000 Reserve Fund.
Yen 134,400,000
Head Office: YOKOHAMA
Branches and Agencies st
Alexandri Bangkok Batavia
Berlin
Bombay
Calcutta
Canton
Dairen (Dainy)
Moji Nagasaki
Nagoya
New York
Osaka
Otam
Paris
Peiping
Rio de Janeiro
San Francisco
Fengtien (Mukden) Rangoon
Hamburg
Hankow
Harbin
Foreign Exchange and every-des-¡ Hong Kong cription of banking business transacted. Honolulu Current Accounts and Savings AcHsinking counts opened Fixed Deposits re- Karachi ceived at rates which will be quoted on Kobe
London application.
Trusteeship & Executorship under Manila
Los Angeles taken. Safe Deposit Boxes for hire.
PHILIP GOCKCHIN,
Chief Manager
DONT LET
WHITE-ANTS DESTROY YOUR HOMES
CALL THE
EXPERT
EXTERMINATORS
THOMAS COWAN & CO.
White-Ant Experts Queen's Bldg, Hong Kong Telephone-30722-
Seattle
Semarang
Shanghai
Singapore Sourabaya Sydney Tientsin
Tokyo
Tsingtan
Yingkow
Interest: allowed for Current Ac- counts.
Deposits received for fixed periods. at rates to be obtained on applications
Y KANO,
Hong Kong, 11th Se
THE
SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China)
Capital paid up
Reserves
5,000,000
000.000%
Capital Savings Dept. Reserve Savings Dep Head Office-Sh -A Bank having ag-- the industrial develo China and the fostering: ial relations abro Hong Kong Office- Queen's Road Ci Phone #1118.-