Money and Markets
HONG KONG MARKET
REPORTS.
Quotations at yesterday's local market for rice, sugar and other
foodstuffs were as follows:-
Rice.
Per Ficul.. 87.28 7.SI 77.33
Hung Chai May
Ching Sam Dor
New Moon
Red Seal
6.77
Red Seal Glutinous..........
6.41
Green Butterfly
7.75
Green Seal No. 1 Broken
5.87
Green Beal No. 2 Broken
3.33
Bogar;
Per
Picul
Manila New Green
$8.93
No. 2 Coarse Powdered
No. 18 Coarse Powdered...
7.63 7.35
Miscellaneous
Groundnut Oil
824.20
Wood Oil
31.30
Sesame
Green Tea
15.00 17.30
THE CANTON COAL MARKET.
METALS.
THE HONG KONG DAILY PRESS. TUESDAY, MARCH 5th, 1929.
HONG KONG & SHANGHAI FOOD ADULTERATION IN
HOTELS.
LAST YEAR'S. WORKING.
The balance of profit and loss account of the above company for the year ended December 31st, 1928 Messrs. Pentreath & Co. have (including the sum of $78,310.05
the following letter, handed dated. January 31st, from Messrs. brought forward from the preced Hornby, Hemelryk & Co.. Livering year and 8974,180.75 in respect pool:-
COPPER,
Business in Standard Copper has been moderate, the feature of the week being the steady appreciation of cash values, the forward position having advanced only at a much slower pace.
It is generally considered that the premium of 51s, 3d. for cash metal is quite unjustified in view of the stocks of about 6,000 tons in the United Kingdom warehouses The warrants, however, appear to be under strong control, and should the demand for rough Copper becomo more insistent, the backwardation may expand still further.
The position in 'America continues satisfactory from the Producers' standpoint, sales both for domestic consumption and for export, being maintained on a high level.
of profit on sale of property) amounted to $1,375,510.47, which the Board will recommend, at the forth coming annual general meeting, be appropriated as follows: —
To transfer to General Roserve in order to bring same up to $3,000,000
To transfer to Coa
struction and De velopment Beserve in order to bring JAMO пр $1,000,000
to
To carry forward to now account .......
$1,000,000.00
HARBIN.
COCOA "MADE FROM HUSKS.
RUBBER.
ACTIVITY ON LONDON MARKET.
Harbin (U.P.):-The tin of can- ned goods bore the proud, legend Mesara Pentreath & Co. havo Made in America," with however handed us the following letter, the annotation in small type why the purchaser of that tip after printed at Harbin," and that was having tried some of its contenta had to put in sa urgent call for
a doctor and ambulancë par.
This case having drawn the attes tion of the sanitary authorities, an inspection was carried out by them of the foodstuffs offered to the public, which brought to light many interesting facta.
Most of the cocos in the smaller shops was found to be of local manufacture, consisting mainly of bea husks coloured with ochre, and the same chemical, seemed also to be often used to give added colour" to macaroni and other paste.
Green peas were green indeed, but not from a natural colour but thanks to
vicious, poisomeras 200,000.00 paint. 175,510.47 $1,375,510.47
Manna-croup was found to be produced from kaoliang, and a portion of gruet cooked from samo As a sure means of sending one to hospital for a week or two"",
Although Harbin is noted for its good butter and milk it was
World's production during 1928 is RUBBER ON THE AMAZON. found that both these produces are
given as 1,018,471 short "tons, an increase of 222,125 tons compared with 1087, which, when it is consider DUTCH REPLACING.ed that stocks of refined in America
JAPANESE.
According to a vernacular paper A large amount. of Dutch coal is
1.
have been reduced during the year by about 30,000 tons, emphasizes the expansion in consumption.
There are no signs of weakness being imported into Canton. The in the outlook; in fact, the expecta city takes about 40.000 tons a month tion in some quarters is for still and before the Anti-Japanese Boy.higher values. cott about half of this used to come from Japan. Now only about 3.000 tons of Japanese coal is imported monthly, under special permit.
The amount drawn from Kaichow, Luanchow and Chihli has increased and the Chinese mines are doing unprecedented business.
The article states that 30.000 tons of Dutch, coal is being imported monthly sa against a former 10,000 tons monthly. Presumably this is from the Dutch East Indies, and not from Holland, where there are only few small mines of inferior quality.
THE "MUI TSAI"
QUESTION.
RECENT REFERENCES IN
PARLIAMENT.
TIN.
Consumers' attitude continues undecided, for whilst from a statis. tical point of view, they feel justi- fied in working on low roserves, it becomes more and more evident that the large scale operations of the
Bull
group intends to allow little shrinkage in raling values.
Trade demand, both from this country and America, is expected to be on a good scale during the next few months, in which case higher prices may be reached without much support from the group being need
ed,
Straits shipments during January are expected to be about 8,000 tons. Stocks in the United Kingdom ware- houses at the end of last week were 7,802 tons, or an increase of 306 tons, compared with the previous week.
LEAD.
The undertone is firm though As already, called by Reuter, on values appear hesitant American February 5th the Colonial Secre-producers are well sold over the tary had a number of questions next month or se, and only dullness addressed to him in the House of in London prevents an increase in Commons in regard to Mui Taxi price. Demand in this country is in Hong Kong, London papers re- quiet but satisfactory, heavy at- port the proceedings in Parliament rivala being well absorbed, and
stocks are not large.
as follows:-
It is felt that expansion in demand to any appreciable extent would im-
FORD AND JAPANESE
COMPETE.
extensively falsified, the contents of added lard reaching in soms in stances 70 per cent.
HONG KONG STOCK....
EXCHANGE
Whiskey, wines and perfumes are also known to undergo startling There is rivalry between the rub-changes at the hands of expert
home-made chemists with ber enterprise of Henry Ford and responding results to their users.
cor- the Japanese colonization enter- prise on the bank of the Tapajos River, a tributary of the mighty Amazon, in getting land under cultivation. Old-timers in the Amazon Valley think that the Japanese will win. The Ford con- cession and the Japanese concession are nearly opposite to each other, both being along the Tapajos River about 119 miles above its junction with the Amazon.
Ford's base of operations is at Santarem which is situated near the confluence of the Tapajos River with the Amazon. Here vessels are loaded for Detroit. Ford's vessels have, however, arrived too late in the season to be able to navigate, the Tapajos River all the way to Santarem and, in consequence, car goes are being conveyed to the bulks in lighters, these lighters being towed up the river.
A Stupendous. Task. Veterans on the Amazon praise Ford's hospital ships and their task of fighting malaria in the equipment, but believe that the area granted to the Ford interests by the Brazilian Government will be a stupendous taak.
CLOSING QUOTATIONS.
Marcu dan, 1929,
A.K. Banks...............$1,800
Do London...£141 z. div. now. Chartered Bankes
£22 buy Mercenti Hinh Ai kB tải Băn
Do
0...21 nom.
дом
&0. Bank East Axis Back........890 nom. Onaton Insurances $85 nom. Union Insurances......$387 buy, 388 sa. North China Ins.......TIs. 160 buy. China Underwriters.....245 buy. Yanglaze Insurances...... $50 num,
China Fire Insurances....$285 buy. Hong Kong Fire In.....$750 buy. Douglases
..$38, bay. HK Stambouts
.....$28 nom. HE Tags
$1.65 boy. Indo-China (Prof.) ......652) bay. Da (Def.) 9 nom. Shell Transporta.........96/8 nom.
Do. (CAR)..... Benguet 19.60 buy,. Union Waterboats.........3221 nom.
Kailan Mining Admin....70/. nom. Langkata(combined)...... Tis. 34 buy.
Do In this
(single) Tia-74 rom 8 Explorations
Tia sal Shanghai LosTEN.
Tis.so.
Tronoh Mines E.K .H.X. & W. Docks. China Providents
area there were 360 deaths in two
Honghe
months about half a year ago.
It is reported that the special Ban cranes that had been brought by the Ford vessels for the purpose of discharging cargoes were loaded beneath all the other freight, and the discharge of cargo has, there fore, been delayed, necessitating Some improvement was shown in
the иде
of lighter equipment demand last week, but prices have
instead.
The work of clearing the land is been erratic. The position of supply progressing, anti 1,000 houses for Mr. Malone (Lab.-Northampton) and demand appears fairly evenly stated that in this period there had balanced at the moment, and prica the use of labourers will be cop-
Mr. Amery stated that he had recently called for a report on the working of the Order of 1923 which | prove values. declared the complete personal freedom of all from Mui Tsai, and he would defer any statement until the report is received.
been an increase in the number from
8,000 to 10,000, and asked-are they not being sold for money and am played without wages? Is it not time to prevent slavery in the British Empire ?
Mr. Amery replied that he had do information bearing out the statement and was anxious to obtain
SPELTER.
movements are more likely to be in-
fluenced by the results of meetings of the Cartel held last week on the Continent.
WORLD'S NICKEL IN BRITISH HANDS.
structed.
*****
EX
བྱ་་*་ལ་
K.WEB.....
37 buy, & 17/8.noia. ...11844 nom. ..3101 20m.
35
•The Le81 bay. Tis. St nam,
now,
Shanghai Docks New Engineering.../
Th. 113 buy, Rwo Lotion
TI. 13.20 nom. 8 hat. Cottons (old).... Tls. 70 kom Oriental Cotton......... Tu. 2 now..
(new)..............Tie & nom. B.K. 48. Hotels.....49.15 bay,, 9.30 sel Japanese colonisation company and Humphreys Estates....16 buy.
Lands
$631 baz, 84 sel The concessions granted the Ford interests are both situated B.E. Reallics
2 Shanghai Landa.........Tis. 1664 bay.
in the State of Para, along the E.K, Tramway... $19.70 sel., 19.80.70 za. fertile valley of the Amazon.
Peak Trame (old).........$13 Japan proposes to turn the large Ba. (new) w38.30 nom. tract of land given to her colonists Star Ferries........
Sash buy. inta rice, cotton, tobacco, rubber bins Lights........ 118 bay, & sa. 00 PER CENT. FROM CANADA. ment project, which is handled by Macao Electrica
and cocoa plantations. The develop-B.K. Electrica (old) ......155 buy.
Do. (vowj ..............$53) buy. the Kaigai Kogyo Kabushiki which the Mond Nickel Company Japanese in this area, and the com-Telephones (old)$7,80 bays
Through the £120,000,000 deal by Kaisha, plans to settle about 10,000 Sandakan Lights his acquired control of the Inter- pany has been permitted by the
Do. (new). uational Nickel probably due to the constant inter Canada, the whip hand over war banks, to buy and cultivate land, Singapore Tractions..... 11/6 nom.
Company of Brazilian Government to operate his Binaos
„Tia. 19ź buy.
"In reply to further questions.bas practically passed into" British and to perform the other necessary China Sugmasin.............. $14 nom.
hands. Modern warfare is impos sible without the supplies of nickel which enter so largely into the manufacture of ammunition, guns, aircraft and munitions generally.
full details from the Hong Kong
Government
Mr. Looker (C.-—Essex) ccmarked that this practice had prevailed in China itself for thousands of years and that the alleged increase is
change of population
Mr. Amery said he could
nol
functions of a colonization concern.
Importance Twofold.
Com-
Watsons
40,
Da. (Pret.)...17/8 boy., 18/3 sel.
Malabon
Sugaro.......$9 bay. Csuton Icos mue 201
$now. Two Japanese steamship
“Camanta (combined) ... . $9.50 sel,
Da, panies already operate from Japan
(old)....17.80 som. to the eastern coast of South A. Bopes (old)...bay. Do. (new) ......Sit buy. America and a third is proposed, within the next few months, be United Asbestos
Do.
Para, Brazil.
$14 bay,, 34.10 ka. The importance of the Japanese Der & Wings .80 cts, buy, venture is two-fold. First there is
Inne Crawfords.......: $3,05 nom. the opportunity to solve, in some Macintosh 120 nom measure, the pressing problem of Sinceres:
$101-bay. over-population in Japan, and Wm. Powells.
$25) BOL H., Constractions...$1) no2, Bose Indus, G. Band...689 H., Govt. Loans... prom, hay
.68% noin.
bay-bayers; sel-sellers; -15i, pomtaminal
AGENCIES. -
་་ཙཱ་༔་་་་་་ར་
next and not less important is that a Amuser=4,87,85 nom,
agree that Mr. Churchill's under taking given in 1922 when he was Under Secretary for the Colonics has not been implemented. He had
Ninety per cent. of the world's 20 reason to believe that "the authorities at Hong Kong are not
nickel output comes from the carefully watching any case of ill mines of Canada, which are now treatment or any case where a girl controlled by the Mond syndicate tween Japan and the State of Dairy Fagna som 1201 ≈ div, sel
from Lobel House, Westminster. wishing to leave a family could not do zo. Obviously nothing could In the heart of London is the head. be more cruel than to drive these quarters of the greatest chemical girls out of the families with which combine yet devised, and here sit the men who control levers more they were living when they were
powerful perhaps separated by hundreds of Nations for averting war.
than the League of miles from their original homes in Chiza.
Board School Boy's Achievement.
The accomplishment of this stupendous deal was the work of a man, Mr. D.. Owen Evans, who had his early education Rt board school."
Japanese cmigrants have been go- The son ofing to Seo Paolo, the coffee-grow- Welsh farmer, he later studi-ing district of Branil, for the past ed at the Royal College of Science, South Kensington, then there are about 60,000 Japanese n
40 years, and it is estimated t prepared for the Bar, and from the State of Sao Paolo, Sao Paolo 1909 to 1918 practised, on the is, however, many thousand miles Southern Circuit. He wrote some from the side of the new conces publications on Mr. Lloyd George's sion along the banks of Old Age Pensions Act, and the Tapajos. famous Budget of 1910, and pre pared the Liberal party's Welsh Land Report.
SUGAR IN PERSIA.
AGREEMENT WITH FOREIGN
COMPANY.
Teheran:-The question of estab- lishing sugar factories in Persia, which has been under consideration for a long time, following discus sions with a Czecho-Slovakian com- pany, has been settled.
this colonization scheme, if direct ed successfully, will afford Japan a field for the development of those raw materials which her growing industrialism needs.
the
An agreement has been signed whereby the company will send a expert to advise on the cultivation of beat and the manufacture of sugar, after which factories will be Lord Melchett (then Bir Alfred of British shareholders in the Mond), who was so impressed that merger shows that results so far he invited Mr. Evans to join the | cbtained. in exploration, work-at Mand Nickel Co.
the mines Burpass expectations, and disclose a tonnage of high grade ore sufficient to meet require meats for many years.
It was in the preparation of a statement published in New this report that Mr. Evans met Tark recently for the information
cont
established if it is found that the of production compares favourably with the cost of import ed sugar, and a
Tenders will be invited for machinery for the sugar manufac turing companies. Precedence will be given to the company mention- ed,
Approximately $2,000,000 worth of sugar is at present imported into Persia, annually.
When the big deal which has now been concluded was first suggested, Mr Evans was sent across the Atlantic with powers of negotia tion, with the result that the world's nickel supplies, with all that they mean for the fate of nations, are now in British handa. (Continued at foot of next column.)
The London Office of the HÔNG KONG DAILY PRESS, 21, BRIDE LANE, EC4., is constantly receiving Enquiries from Home Manufacturer regarding Suitable Firms to act as Agents for their products in Hong Kong and South China,
If Local Companies desirous of taking ap further Agencies will let us know the Lines in which they are interested the information will be forwarded to London and passed on to interested parties as op 'portunity offer,
This
Service is offered to cor Benders without charge and, of course, no obligation is incurred on either sille.
The Esquired Information should be
In regard to the merger it is understood that a sufficient number of shares have already been dement to the thy gya ha posited to conform with the terms HONG KONG DAILY PRESS, LTD. of the agreement, which will there
11. I HOVE BTZEST fore become effectiva,
Hong Kong.
|
Hornby, Hathelryk & Co., Liver: dated January 30th, from MisarE
pool:-
The London market has been fairly active daring the past week, and, at one tire, values showed a rise of Id. per lb. over those ruling. 4 week ago. Since then, there has been a reaction of d. and the market closed last night quieter but steady at 10jd. for Spot and Febr- uary, 1073. March, 11d. April/June, 11td July/September, 11fd. Octo ber/December, and 11jd. for Janu- ary/December (1830), buyers.
Trading continues to be prin- cipally of a speculative character, and consumers continue to take merely a passive interest.
Sellers are experiencing difficulty in disposing of rubber afloat and for immediate shipment except at a concession in price. Business is also quiet in "off"qualities, of which there is now a much larger proportion offering.
One of the important English manufacturers was reported to be enquiring for near deliveries a few days ago, but so far we have not heard of any actual business. We think, however, a period of steady prices would bring the seriously into the market, as we have reason to believe that they are not, well supplied.
We continue to think well of the position and advocate the purchase of forward deliveries, only, how evar, on reactions.
Stocks;
Stecks: 24,423 tone in London, 2,824 tons in Liverpool, increase of 876 tons in London and 319 tons in Liverpool, a total increase of 1195 ton*
The visible supply at the end of the year was approximately 275,000 tons. More than half of this sup- ply was in the United States.
(Continued on next Column).
EXCHANGE RATES.
BRITISH WIRELESS SERVICE)
Paris Geneva. Berlin Oslo.
"Huosy, March 3rd.
124.225
90.43
18.10
Helsingfors vs. Athens
193)
375 47 11/32
Buenos Aires
Hong Kong tro 1113
New York Amsterdam Stockholm Vienna Madrid Bombay Bucharest Yokohama
4.537/32 12.11. 18.16
34.323.
-31.805
3/331/32 3154
1/10 3/32
Brussela
34.94
Milan
92.65
Copenhagen
18.PO
Prague
163)
Lisbon
109)
2/61
529/32 26
Shanghai Rio Silver (spot) Silver (forward)
..
26.1/18
American consumption in 1999 371,027 tons in 1927-an increase of was 441,339 tons, compared to 10 per cent. United States last year were 440,421- Importa into the
tons, against 411,969 tons in 1897-- an increase of 8 per cent.
dents reports that general sentiment One of our New York correspon-
in that market is that the recent rise has been altogether too rapid. Ar outstanding' feature has been the absence of consuming demand during the broad speculative ad vance.
tu be covered for the most part for American manufacturers are said this quarter and possibly April; while their requirements from May. onwards have still to be filled.
speculative profit taking of rubber A correspondent has cabled that
has been absorbed by dealers cover- ing shorts.
Hong Kong Weekly Press
THE CURRENT ISSUE
THE CURRENT HONG KONG WEEKLY PRESS GIVES THE RESULTS AND FULL ACCOUNTS OF THE ANNUAL RACE MEETING — WHICH HAS, AS USUAL, OVERSHADOWED ALL OTHER INTERESTS IN THE COLONY. THE MEETING HAS BEEN NOTABLE FOR THE SUCCESSES OF MRS. DUNBAR AND MRHO KOM TONG AMONG "OWNERS AND OF THE STAR SHANG- HAI RIDERS WHO HAVE BEEN HERE IN LARGE NUMBERS.
In his statement at the annual meeting of the
Hong Kong and Shanghai Banking Corpora tion the Chairman of Directors was able to report a satisfactory year's work. His review of the Eastern and particularly the Chinese situation was guarded and fairly optimistic. The Speech is reported in full.
At another important business meeting, that of the Hong Kong Telephone Company, it was announced that the Automatic System should be in operation in the course of the next twelve months and that a trunk line to Canton was under consideration.
*
Canton has been greatly perturbed by the appear-
ance of had money among the new silver. coinage, and the Government is taking active measures to secure confidence in the currency. Military chiefs are in conclare over demobilisation plans for the two Kwang Provinces.
Buy the HONG KONG WEEKLY PRESS for the best summary of the news of the Far East The Paper which keeps people at Home in touch with China
36 Pages Price 30 Cents.
The Paper with the Familiar Yellow Cover,
(On Sale by all Regular News Boys.)
Annual Subscription: Hong Kong, $13; Post Free to any address, 815; Quarterly Subscription, $3.75. "Orders should be sent to the
HONG KONG DAILY PRESS, LTD., TELEPHONE: C. 12.
11, Iox HOUSE STREET.
THE
Instructions
I ARE" Undersigned” have" reodivad
TO SELL BY
PUBLIC AUCTION,
IN FOUR LOTS
ст
TUESDAY,
Tra 12 DAT or MAROH, 1929,
„AT'S O'clock 7.X.
AT THE AUCTION ROOMS;
No. 4. DUBBELL STREET,..... VICTORIA, HONG Kora. THE VALUABLE LEASEHOLD'
PROPERTIES
Lot No. 1-The Properly known.se
No, 990, 998 and 99F, WELLING TON STREET comprises three newly erected four storied Chinese shops and dwellings with basementa situale in the centre of the city os pisce OR
cel of ground registered
in the Once a Section 0 and the Bomal ing Portion of INLAND LOT No.
164 baring an Ares of
2853
The
Square Feet or thereabouts Property is situate on the North side of WELLINGTON STREET and in borzded on the East by PAL STEKET and on the West by a Private Lane,
Lor No. 2-The Property known as No. 180, WELLINGTON STREET it an excellent class three storied Chinese shop and dwaling house with iron baloonies in front itaate in the centre. of the city on the piece or parcel. of ground registered in the Land Ofice a Section 12 of INLAND LOT NO. 8 having an Ares of 723 Square Foet or thereabouts. The Annual Crown rent payable on this Property is $14.00. Lot No. 3.-The Property known as No. 360, QUEEN'S ROAD CENTRAL and No. 47, LOWER LABOAR BOW are stcellentclass three storied Chinese shops and dwellings. No. 360 QT'I ROAD
CasThat has an attic story on
the roof and No. 47 LowEN' LAICAN How a basement. The Property is witants on the piece or parcel of gmund
registered in the Land Office Babsection 1 of Section AB of INLAND Lot No. 211. having an Arom of 1973 Square Feet or thereabouts. The Annual Crown rent payable on this Property is 9.81.
Lot No. 4.The Property known a No. 1, QABTLE ROAD is a semi- detached two storied European sidence situata in the central district of the city on the middle levels in favourite acsidential locality on the piece or parcel of ground registered in the Land Office as Section B of INLAND LOT NO. 543 having an Ares of 4183 Square Feet or thereabouts. The Property is ripe for re-develop- ment purpose. The Annual Orawn rent payable an this Property is $5.63. Farther Information and Copies at the Particulars and Conditions of Sale" may be obtained from
Mzsans, HASTINGS," LENNYS & BOWLEY, Voadors' Balicitors,
TO
8, DES VOXUX BOAD CENTRAL
MES. LAMMERT BROTHERS, The Auctioneers.
[7434
VVHY· Continue to suffer when
W
POO ON HERBS are within your reach-Fimples, Catarrh, Asthma, Bronchitis, Cough, Constipation, Dis betes, Dropsy, Rheumatism, and many other Diesa. No Drugs, Purely Jhinese Herbs,
POO ON HERES, CO., 68, Queen's Road Central, iar F2002. TEL. C. 5009
|HOUSES "AND FLATS.
"PEAK MANSIONS,"
ITUATED within Two Minater"
overlooking the Southern Side of the Teland. Ready for Occupation.
S Walk from the Tram Station and
Five-Hoomed 'sad Six-Roomed APARTMENTS
with all Modem Conveniences, Drying Rooms and Out-honses, Two Lifts,
Apply to
CREDIT FONCIER D'EXTREME-ORIENT,
4TH FLOOR,
PARCH BANK. BUILDISI,--
TO LET.
FLAT in CARNARVON
A BUILDINGS, KOWLOON.
Apply to ****
HUMPHREYS ESTATE AND
FINANCE CO., LTD. ALEXANDRA BUILDINGS,
f7893
TOLET-One Four Room FLAT. Farnished Unfurnished, from 17 APRIL Sitanted at 18, Mac Donnell Road (MID-LEVEL) Apply 2476. c/o Hong Kong Dady Press. 7476
LET-From 15TH MAY TO 30TH NOVEMBER, No. 293, PEAK, Five Roomed HOUSE Fally Furnished, with Three Modern Bathrooms, Garden, 8 Minutes Rickshaw from TEAM på om Motor RoAD-Apply: JOHN FLEM ING, c/o Low, BINGHAM & MATTHEWS.
£7472
STO LET “BELLEVIEW," No.
TPA Fly Furnished.
8 Roomed HOUSE with Early Possen sion. Apply to: PEROY SMITH, SETH & FLEMING, 29~17470
TFAZLING (in On Ler Village), OB FOE SALE-A Farnished or Unfurnished, 4 Roord HOUSE, with Garden and Garage. Moderate Price. Apply -KWONG BANG HONG, LTD, 250, DES VEVI BOAD CENTRAL
[7360