Page
103
JORN HAIG & CO
HOLD LABELS
MOURA COTCH WHIT
The Whisky of Quality
from the oldest distillers in the world
Haig
425
(THE FATHER OF ALL SCOTCH WHISKIES
SOLE AGENTS ·
GANDE, PRICE & CO., LTD.,
HONG KONG.
WURM'S
[183
STOMACH DOCTOR
The Best Bitter for the Stomach.
Best Remedy for Poor Appetite, Deficient Digestion and Disorderly Stomach.
Obtainable at
THE HONG KONG DAILY PRESS. SATURDAY, NOVEMBER 3rd, 1928.
Money and
HONG KONG BUSINESS."
DEALINGS IN FOODSTUFFS.
Business done, in Hong Kong on November 1st in rice, sugar, and other foodstuffa included the follow- ing transactions:
Green. lion white Siam rice 1,313 bags at 87.35.
Red seal red cargo rice 190 bags at $8.02.
bags at 88.31."
Red pearl big white rice 1,650 Double red lion white rice 135 bags at $8.50.-
Green sent No. 3 white rice 200
white bags at $7.27. -
Blue seal broken white rice 570 bags at $6.83.
Bize ecal No. 1 broken white rice 142 bags at $6.23.
Black seat No. 2 broken white rice 283 bage at 26, 19,
Black sen fice chaff 687 bags at $3.36.
Fine coarse powdered candy 150 baga at $8.23.
No. 19 coarse powdered candy 100 bags at 87.10.
|
Markets
F.M.S.. TIN MARKET,'
ROOM FOR FURTHER FALL IN TIN PRICES.
+-
BATU LINTANG RUBBER.
HALF THE CROP SOLD
FORWARD.
HONG KONG SHARE MARHET.
A QUIET WEEK.
The annual meeting of share MESSRS. BENJAMIN & POTTS'
holders of the Batu Lintang Rubber
Co., Ltd., was held on October 10th, at Penang.
REVIEW.'
Messrs. Benjamin & Potts, 10 The Chairman addressed the their report on the local share meeting as follows: The result of market, dated yesterday, state- the year's working shows a gross The past week in the local market PENANG, October 20th.
profit of $108,811 which is, about has been a quiet one with only a Lean & Co.'s weekly report, half the amount earned for the pro moderate amount of business pási- issued to-day, states that tin firmed vious year. The falling off is main-
up considerably at the close ofty due to the lower average priceing in either speculative or invest. last week, touching 2004-17-8 (spot) | realised upon our sales of rubber ment stocks, and prices for the most and £92-15-0 (three months) but and the reduction of our export
part have not undergone much reaction has set in and the closing allowance. Compared with the pre change. prica were: spot E20-10-0, three vious year our exportable allow
ance fell from 492,650 lbs. to 343,400 months £219-17-6, showing a loss and gain respectively on the week of 7/8 and £1-17-6. The position arcoma healthier, but there appears to be room yet for, a lurther fall in the price of the 'rietal. Latest ad vices from Home indicate that a fairly heavy speculative bull ac count is open, and unless the con- sumptive demand takes large quan tities of metal permanently off the market, realisation may prove a difficult matter.
The tin share market, following the commodity market, firmed con siderably earlier in the week, but clows easier with sellers now pre- dominating. In the dollar group Batang Padangs improved while the Taiping group remained steady For Raja Peraks there was again Wood eil 190 tins at $32-40," a strong demand. London hds Foochow mushrooms 20 boxes at been sitting on the fence, and for a while will certainly, be a poor buyer and by no means a free seller.
No. 24 coarse powdered candy 400 bags at 87.63,
$26.
►
Foochow preserved dates 30 boxes at 893.
RUBBER AND TIN,
QUOTATIONS AND DIVIDENDS.
lbs., a drop of practically thirty per cent., while the average price obtained for our rubber was lower by some 23 cents per lh Taking everything into consideration, how ever, I feel sare you will agree that the result is satisfactory and though a large dividend is impossible, fyour, directors propose to recom- mend a small distribution to share- holders.
Hong Kong and Shanghai Backs have shown very little variation and transactions have been made at $1,335/81,3371. The latest cabled quotation from Londoa is 8141 (Middle). Deals were made in Unions at 8363 and 8364 and more are wanted at the former rate. Cantons have remained steady $675.
Steamboats were placed at 3261. Kowloon Wharves were realised again at 8138. China Providenta were negotiated to a fair exteas, at 83.10 and $5.43.
"With regard to the future the position is shrouded in uncertainty, but it is the opinion of some of the best authorities, that we shall see
Hong Kong and Shanghai Hotela a genuine recovery in prices some
have fluctuated a good deal; after time next year. The keynote to sales in the carly part of the week the situation at present is, of
at $9.90, the price feil away to able, and your board, in addition again with buyers, at 89.10, Hong course, the selling price now obtain-89.90. They are, however, stronger to adopting a conservative policy, Kong Lands changed hands at 867. have thought it advisable under the Realty's have lapsed to a nominal circumstances to safeguard the quotation of $8.83 ex: the interim existing resources of the company, dividend of 30 cepts just paid, and to provide for the efficient up- keep of the estate for the current In the Australian section very year by making forward sales little business passed, the only out. These sales eover 537,000 lbs, which, standing feature being a demadd after for Katus and Renong Consolidat-127,433 fbs. in hand on June 30th deducting the surplus of ed.
our estimated crop of 780,000 lbs. last, represent about one bal of for the current year. The balance will be free for sale from time to time at ruling market prices. The f.o.b. cost of production last year was 29.40 cents per lb., but with the removal of restriction and the consequent larger crop, it will be possible to harvest, it is anticipat ed that this cost will be reduced to Labout 21.09 cents per lb."
The industrial market continues firm, buyers predominating. Loans, particularly Municipal bonds, are in strong demand, with few sellers Messrs. Carroll Bros. writes:-in evidence.-Straits Times. The London 'tin market has im- proved steadily and the tone is ree ported as "Arm." À fair busingga i has been done in Petalings 35.05, Kuchais $1.73, Sungei Ways $3.15, R, ERIC MÍLLER'S ESTIMATE Batu Caves $1.50.
WORLD RUBBER CON- SUMPTION.
FOR NEXT YEAR.
LONDON, October 17th.
At the annual meeting of Enrri-
THE WING ON CO., LTD. neighbourhood of 40,00 tons. Lon- Mr Eric Miller commented hope-
ITCHY-SORE-INFLAMED
L4
CRATCHING makes the skin's surface raw and
to infèct the broked tissues and set up ravaging eczema, rash, psoriasis, sores and ulcers.
For stopping irritation and pain, killing disease germs, and for growing new Bealthy skin, Zam-Buk is truly a marvel, Soaking thro' the tiny pores into underlying tissues, this refined herbal balm gets to the very rects of discase. It draws all poisonous matter but of the tissues and quickly makes the affected stin healthy and wholesome,
Zam-Buk is nnequalled for eczema, itch, prickly heat, ring- worm, sore feet, had legs, cuts, barns, insect bites, and many other skin troubles, Be sure that you get Zam-Buk!
Medicine ven
where molt Zam-Buk
FREE.. FROM ANIMAL
** FATS.
1.2. Joer.
Zam Buk
THE GREAT QURATIVE BALM
Agenta - Memra. A. 3. Móoldár & Co, Ltd., P.0. Bộï 386, Hong Kong.
Sole Agents
Drink
Whilst the rubber commodity market has been quiet, a good tone prevails and it is anticipated that American consumption for the month of October will be in the
don stocks have also declined and it seems fairly certain that when the Malayan bgures become avail- able, they will prove that London and New York stocks are deereas ing more rapidly than anticipated in various quarters. The outlook,
CHINESE WEIGHTS AND
MEASURES.
sons and Crosfield, Ltd., resterday,PROPOSED STANDARDISATION fully on the prospects of rubber consumption, particularly in regard
The Minister of Industry, Coto
Hong Kong Trams fell away to 823 at the outset, but there has since been some recovery and busi ness was done up to $24.20. At the and shares are offering at 821.93. close the market is a little easier Hong Kong Electrics were dealt in at $32 and 8504 for the old and new
Chias shares respectively. Lights (old), are in demand at $13,43 while the new shares were placed
Cuticura Talcum Best For Everyday Use
Because of its purity, combined with antiseptic properties which I help to allay excessiva perspiration. It imparts to the skin a delicate and refreshing fragrance.
| Soap, Ointment. Talcum sold throughout
"Try the Cutieure Shaving Stick
INSURE
YOUR
MOTOR CARS
WITH
GILMAN'S
at $13.30. Hong Kong Telephones "OCEAN" COMPREHENSIVE have buyers at 7:30 eum.rights.
are quoted 89.80 with no business Green Island Cements (Combined) reported. Dairy Farms were book ed in fair quantities up to 823.33 but close easier with sales reported DE 89.90. Lane, Crawfords con- thue in request at $3.05. Union Waterboats are wanted at $231.
Raubs have buyers at 84.40 and probably a little more would be Paid. China Underwriters were taken off the market at $2.55. Benguets have met with enquiries A 821, but sharea are dificult to obtain. Shanghai Explorations are sought for at Tls. 2.80 Shanghai Decks are saleable at Tls. 106,
POLICY.
HONG KONG STOCK EXCHANGE.
CLOSING QUOTATIONS.
Nova 2xo, 1939. a. Bats......$1,340 sel. 1,335
Don
London...£141 nom. dercantile Banks, A. &... £34 nom. Chartered Banks 23 bay.
Do.,
to tyres, and pointed out that merce and Labour has decided to whereas in the lean period of 1921-organize a bureau to make and
the rate of consumption of rubber issue standard weights and mes was still under 400,000 tons per sures. The bureau is to have one annum, this year consumption was director and two sectional chiefs therefore, is most encouraging and proceeding at the rate of not less for the Section for General Affairs Curred in Ewos, the market closing auton Insurances $875 al
is reflected in the steadily growing demand for rubber shares. The better class .shares are scarce as bolders are unwilling to part at present figures. Buyers therefore must pay better rates.
Present quotations on shares are:
Ayer Panas
Balgownica
Glerealys
Jimaha
than 650,000 tons.
and the Section for Works respec- tively. The Section for General Affairs isto (1) purchase raw materials, (2) store, issue and sell weights and measures and (3) keep documents, accounts, compile statis
Summing up the production and consumption prospects for 1999, he suggested that the probabilities were that quantities to be taken by manufacturers would about equal the unrestricted production, both tics, etc. rubber
of which he estimated ät, approxim. ately, 700,000 tons.
$8.00
1.40
...... 1:45
1,20
Kedahs
2.90
Malaka Pindas
1.20
Pajams
1.20
Dividends Declared. Rambutan, 6d per share.. Tekka Taiping, 6d. per share. Kent (F.M.S.) TID, 8 per cent. in-
terim.
Mamban Tiu, 5 per cent. interim. Telok Kruin Tin, 7 per cent. in
terim.
THE SWINDLER'S MAGNA CHARTĂ.
LABOUR FINANCE POLICY CRITICISED.
."
JAPAN'S WOOLLEN. INDUSTRY.
COMPETITION IN CHINA WITH
BRITISH GOODS.
|
The Section for Works!
is to (1), examine raw materials and make preparations for the manufacture of weights and mea- sures, (2) superintend, inspect and apportion work, (3), test, inspect and overbaal the manufactured articles "and (4) undertake other
Under technical work.
the sec- tional chiefs there will be a number of technical experts, examiners, writers, clerks, and workmen.
The bureau is to submit a month report to the Ministry on its work and finances. Besides weights
scientific and other standard in- struments.
Japan's increasing independence of foreign supplies of manufactured goods has been given prominence by the Statist in its latest issue.and measures, the bureau will make Commenting on a compenhensive report on Japanese economic con.. ditions during 1928 just issued by the Department of Overseas Trade, the Statist emphasises, inter alia, Japan's woollen industry by whick she is not only becoming self-sup- porting, but likely in the near future to threaten the British exports to
India and China.
AMERICAN ADVISERS TO
CHINA.
WASHINGTON APPROVES.
PLAN.
WASHINGTON, Oct. 21st.
It is learned in authoritative circles that the United States Gov- the plan of the Nationalist Govern ernment looks with sympathy upon
A farther improvement has pe strong at Tal, while Shanghai Cottons have advanced to Tls. 59 and Tis. 32 for the old and new shares respectively.
NATIONAL GOODS DEPART MENT STORE.
INTERESTING PROJECT AT
per annum.
NANKING.
ket at 2300,000
P. & O. Bankı Bast Aria Banki
nom, £9; nom.
buy.
Union Insurances...$3021 buy, 985 sol. Yangiare Insurance...M. $50 nom. North Ohins los.
1. 16 buy.
China Underwriters ......12] xr). China Fire Insurances....5275 buy. Douglass $38) nom Hong Kong Fire In....800 1. E.K. Steamboats... $251 H.K. Tuge.................$1.60 som Lado-Chinas (Prof.)......$41 bur. (Def) .3721 buy. Shell Transporte ...116)- t Waterboatin$334 bay
.....$21 buy.
20
11 200
Bengueté Kailan Mining Admin...1/ bay. Langkita (combined).......
Do. (angle)* 1], 2.83 bay. 8'ha. Exploratio Shanghai Loans Baube...”
Tronoh Mines
& K Wharf...
R. & W. Docks Previdanta longkows
New Engineering Shanghai Docks, Bwa Unsions ::. Oriental Cottons
....Th. 3 bay.
ik bay.
no1.
17/8 ..$1884 xa. 437 Bom. 15.30 buy. The 156 nom. Jo.
le. St.buy.
Tls. 106 bay. TV boy.
T. 117
A department store dealing exclu. sively in Chinese home goods is being organized for Nanking by number of Chinese merchants in Nanking and Shanghai under the name of "The San Hsing Native Goods Co., Ltd. The total autho- rized capital is divided into 3.000 shares of $100. esch, bearing interest åt 8 per cent. One-third of the total amount is open to subscription by the public during September.
The company will start operations as soon as half of the capital is subscribed and paid. The plans of Do.. (bew)...........Tli. 32 bay. the company include the establish- HK. 45. Hotel $2.10 buy.& ment and maintenance of a hotel and restaurant and an Emusement H.K. Lands
$67 now. centre, besides its own factories Shaghai and Tis. 138 buy. for manufacturing purposes.
Its Humphreys Estater.....$15,70 nomi, realty department will be engaged
B.K. Heatless-tá $8.85 bam. in the sale and purchase of land E.K. Tramways... 21.60 bay, 21.95 and bouses, rental of houses, and
seli, 21.00/5 management of properties.
Pest Trams (old)....$13 bay.
Do (20)....$6.30 nom. The head office is to be in Nan-
Star Ferries
67
buy.
Th. 245
LOD,
'hai. Cottons (old)....1, 50 buy.
sal
credit is easier in the United directly so, through the Government of China to invite prominent king, and branch offices will later Ubins Lights (old).........$13.45 buy.
Discussing the present world I do not find myself much more prices for wool, the Statist draws in sympathy with the Labourite attention to the activities of Japan and Russia as wool buyers, and desire to displace the Bank of Eng- says it is perhaps significant that land by a Government department, the governments of both countries or largely to increase facilities for credit. It is probably true that are traders, though Japan is in- States, but is there reason to be ment's vigorous industrial policy lieve that it is used with real benefit to sustain the increasing popula to the general public? If the tion. The journal expects that des making of millionaries is an ad. pite the big amount of wool coming vantage, no doubt it is, but one
on the market, Japan will repeat would hardly expect the Labour last year's performances of heavy Party to endorse that view. What consistent buying, pushing prices ever defects the Bank of England throughout the season just begun. may have are proved by long ex-
more pericace to be less serious than
Asahi
it is refreshing
.:
WALL STREET BUSY.
political control over the whole of the nation's money and credit. What we need, and could Speculation in shares has become
American citizens to acrve as he established at other places. honorary econotnic advisors.
Nanking officials have already extended an invitation to Jeremiah Jenks, an internationally known economist and writer who visited Manila last spring..
Henry Ford, who has been the principal in repeated rumours of construction of Ford motor factories in China, has been invited to go to China. So has Owen D. Young, participant in innumerable indus- recipient of many orders from foreign nations.
Professor E, R, A. Seligman, of Columbia University, and R. Harper, banker, are also among those who have been asked to help China;
Beer Supplied without it whitsund the more and more, marked recently on trial and economic conferences and
Bank of England, is greater control the Wall Street market, as the over the misuse of the public com- business firms in various lines de pany laws, which often seem to be clared increased dividend for the the Magna Charta, if the biggest last term, says a New York tele swindlers. I have been watching a grim dated October 22nd received good deal of City france during by the Bank of Japan. the past two years; and anyone Shares of all lines soared, and who does so must see the extent reached a new high level, and the to which mere wild-cat schemes are volume of transactions totalled beThis action by the Nationalists is launched, shares boosted" to atween 4,000,000 and 4,500,000 every regarded as the first move in an effort to obtain American loaba premin sb, that the insiders may day sell out; and this means thousands Sharebrokers' leans have increas for a gigantic reconstruction, pro- of foolish people left with little ed markedly, while the advance gramme which has been planned
already in some detail. more than worthless paper on their rate remained stationary hands." It is a difficult problem, but money fell to 63 per cent. it ought not to be regarded de in York soluble, and stricter enforcement of the laws, weak though they are, would be helpful.-A. W. Brit, in Straits Timéi:
and
invigorating.
MITSUÏ BUSSAN KAISHA LTD.
HONG KONG
Call Now
Sun Fo, Nationalist Minister pl of Railways, and son of the late Dr. Sun Yat Sen, conferred with State Department oficials and New York bankers when he was in America, récently.
infut witnessed an $3,000,000, gold during the week ended October 20th, making a total of $13,000,000 since September 1st. Exchange market is dull.
EXCHANGE RATES,
[BRITISH WIRELESS SERVICE)
Ruos, Nov. 1st.
124.10 4.81.15/16
Paris New York Geneva Brussels
Db. (new)........$13.30 noui. Do. (1928 Issue) ...$18.20 buy. H.K. Electrics (id) ......353
Do
BOBL
(new) ......360€ Macas Electrios-264 Bay, Telephones.......47.30 buy. cum rights
Do
AD
I
***** 51 buy, I rights Da, rights ......$3.30 nom. Chins Buses
Fla. 11 bay. Singapore Trsations......12/
/BUMD. Do. (Pre)...18/3 buy, 18/3 sal Chiss
Buga
$1 nom. Malabon Bugacs.in..$22) kuy..
Cements (combised)......$9.80 nom.
Do.. (now)
25.20
34.89
Amsterdam
12.021
Canton Ises
Milan Berlin
92.55
Do.
20.38
Dc. (20)
18.14
18.19
H.K. Bopen (old)
18.19
United Asbestos
34.47
163
19232
30.055 107
376 8021
Stockholm Copenhagen Oslo ...... Vienna Prague Helsingfors "Madrid Lisbon
Athens.... Bucharest
Bio
Buenos Aires Bombay Yokohama Shanghai Hong Kong
Silver (apot), Silver (forward)
Dairy Farm”
Watsons
1101.
.....$8.00 nom.
323 bay, de
7.60 nom.
$7.55 nom.
35 tom. $22.90 Buy., £3) sel, 22,30/23.20 3. ..............142 bay,
Der & Wing Lane Crawfords.
Mecantosh...
Bimbor
8.29/22 47.16/32 "1/8.1/16. ELK
1/11.5/32: B'quia. Indiri: 2/2
Powells
ConstructionN H.K. Gost, Loanéta
3/05
2016 buy?
28.11/16
nam
$3.05 buy. 20 nom. ..a bay..
$3.65 bay. $28) sol.
d85% buy.
( 57% prem, buy. 1x interest