Money
12
and Markets
HONG KONG MARKET
REPORTS.
Quotations at yesterday's local market for rice, sugar and other foodstuffs were as follows: -
Broken
Green Grape
Blue Grape
Rico,
Gren Double Swallows
Pér Pieul. $7.27
Green Single Swallow
7.17
Green Lion
Blue Lion
7.19 7.18
Green Peacock, Glutinous
8.31
Green Seal, Glutinous Broken .. 0.68
Red Seal, No. 1 Glutinous
6.26
Green Elephant
Black Dragon
Green Seal, No. 3
Blue Seal, No. 1 Broken
8.90 7.30 *.58 7.50 7.03 é.26
Sugar. No. 18, Coarse Granulated... 87.88 No. 24, Coarse Granulated ... 8.13
Miscellaneous.
Green Bean, Sunsheng
Scarlet Bean, Newchwang
$8.50 8.20
Black Bean, Chingyan
6.70
Woodtar Oil
39.95
Aniseed
17.80
Green Flax
27.00 6,50
30,00
*5.00 32.00
Sage Powder
White Grap
Duck Feather
Green Ten, Mochim
CANTON COTTON YARN MARKET.
CANTON, March 28. The Canton cotton yarn market has been weak these last two-days owing to the raise in value of the Hong Kong money which has made merchants reluctant to buy." In view of the shortage of stocks, the merchants have been holding their goods for a rise in price.
The latest quotations were as fol. lows!
No. 42 Five Song
Butterfly
8660
640
·
SHANGHAI COTTON GOODS EXCHANGE,
ALLEGED MANIPULATION OF PRICES.
+4
Shanghai, March 21:-The affairs of the Shanghai Chinese Cotton Goods Exchange, were set out in a petition addressed to the Ministry of Industry, Commerce and Labour by a number of local merchants, who demand an investigation.
་་
According to this petition, dur- ing summer and autumn, last year, the price of yarn went up and the price of cotton showed a consider able drop. There was a great dif- Iference between the raw material
(cotton)
and the
manufactured goods (yarn) and this difference. lasted for four months. For this reason, many marchants engaged in; the cotton business on the Exchange lost large sums of money and later Beveral committed suicide because they failed to tide over the Chinese New Year.
All cotton merchants in Shanghai (the petition continues) wondered how the difference between the prices of the two commodities could have reached Tis: 30, and oven mort, and how this difference could have lasted for four months.
"Aller investigations, we found the writers say that the difference was caused by a monopoly "created by the unlawful and secret Fu Sing Co., which was organized by the managing director of the Cotton Goods Exchange. We have delayed this petition because of the fact that the then managing director of the Exchange, Moh do Chu (H. Y. Meh), is now Vice-Minister of In- dustry, Commerce & Labour.
You are requested to take this matter up strongly and order an investigation in order that the Fu Shing Co. may be forced from the Exchange after an examination of their books and the guilty parties punished."
Upon receipt of this, says the 840 Chinese press, the Ministry sent 530 agents to Shanghai to look into the 516 matter.
Happiness
No. 32 Pagoda
Double Horses
Tin Koon
530
Pine Tree and Deer
540
Sheung Hee
524
No. 20 Golden City
Globe
Good Harvest Fui Sing"... Double Horses Tin Koon Sheung Cheung Ng Fock Yin Chung Tram-car
Shepherd
Po Yee
· Three Stars.
No. 16 Globe
Foo Kwni Yan Chung
No. 12 Golden City
Percock
Foo Kwai
Po Yee
Tram-car
Pretty Damet Acroplane
Tak Lee
No. 10 Sailing Vessel
Golden City Peacock Lotus and Bec Double Lion3 Five Lions .....
Yan Chung
Tai Fat. Tak Lee Excellent Crops
No. 6 Lion
Lion, the Second. Hut Hou
SUGAR.
350 Messrs Pentreath & Co. have 345 forwarded us the following letter, 342 dated February 22, which they have 338 received from Messrs. Hornby, 30 Hemelryk & Co., Liverpool:- 347
An easier tone developed during 335 the week, both in London and in 326 New York, in anticipation of 338 March liquidation in New York. 330 Raws were also freely offered by 330 Cuba, and it is reported that ap 336 proximately 70,000 tons of Cubens 340 have been sold to American refiners 315 for February/March shipment at 310 1.15/16c. C., and F. New York, and 310 that a cargo of Cubans for Febru 299ary/March shipment has been sold 208 to France at 9a./4d.
295
994 The Board of Trade returns for the United Kingdom for the mouth 286 of January show the consumption 480 as.132,533 tons, against 115,373 tona La December. Stocks are given as 35%,400 tons, against 266,000 in 250 December and 328,300 in January 9801928.
203
203
250 T.L. P. and T.L.S. are quoted at 270 218./114d net. Czechos for April- 270 June shipment
.qunted.
are
270 116/4, f.o.b. Hamburg.
273
275
THE HONG KONG DAILY PRESS, TUESDAY, MARCH 26, 1929.
EFFECTS OF NEW TARIFF. Į REVIVAL LIKELY TO FOLLOW INITIAL SET BACK OF IMPORTS.
The new tariff has been enforced for but little over a manth, hence It is premature to gange accurately its material effect on trade, especi ally on foreign importà, says the Chinese Economic Bulletin.
How. ever, the Customs returns show that during January and February this year a slight decline was notics able in foreign imports compared with November and December, but arise over the same period in 1929. This decline is not attributed directly to the enforcement of the new tariff, although it was due to abnormal shipments of goods im ported last winter, merchants desir- ing to bring in large shipments de fore the new rates became effective Businessmen are of the opinion that the import trade will continue to be lack for another month or two because sellers have enough. goods on hand to meet the demand on the China market. When summer ap- proaches the import trade in all probability will revive. Since the imposition of the new tariff bat small quantities of goods have been Imported and the full effect of the new tariff on trade is as yet difficult
tu see.
Foreign businessmen have made few if any protestations against the new tariff. On the whole they aya Batisfied with China's liberal levy of 1 per cent. Although the market for the present may be weak it 18 believed trade soon will return to normalcy. The uniform new tariff system favours no particular party. In fact, merchants appear prepared to pay any levies which the Govern- ment may impose as in customary in other countries.
The very few cases in which for eign merchants have refused to pay special surtaxes levied on their goods have been adjusted. They were largely due to misunderstand ings ned equitable settlements were immediately reached between con: aular officials representing their nationals and the Chinese Tariff Commission. Cases like these are not frequent, a fact which testifies to the satisfaction of all concerned
|
Prurious Latest Price. Price
34, 34
1+
NEW YORK STOCK QUOTATIONS.
New York, March 18. Market Irregular. Business done, 2,248,000 Shares.
Stock Alleghany Corp. Allied Chem. & Dye (Com.). 192 293 American Can (Com.) ... 122 123 American Locomotive (Com.)... 1151 117) American Smelting American Tel Tel. (Com) Armour de Co. “&** American Tobacco "B" Armour & Co. (IL) 5% Pd.... Anaconda Copper Andes Copper Atlantic Redning (Com.) Baltimore & Ohio" Bank of Montreal Calumet & Heels Bethlehem Steel (Com.) Campe Corp. Canadian Facido Railway Chrysler
***
144
... 118 118
NIZE NIET ... 1723 174
121.144 791 781 180 16
63 68 631 667
HONG KONG TEXTILE TRADE,
MARKETS QUIET.
The fortnightly report of the Hong Kong Chamber of Commerce contains the following information concerning the import trade
Cotton Plece Goods and Fancy Cotton Goods.
The following reports have been received :-
Woollens.
A fair amount of new business in wollens has been settled during the past two weeks for July/August shipment. Orders have been placed for Cap Tweeds, Fancy Suitings, Striped Flannels and Continental More interest has been goods. shown in new samples, but gener. ally speaking the buying has been cautiotin,
Cotton Yara,
very quiet and prices are on the During the interval market rules
rise in the price of Shanghai Yars. easy side, in spite of the recent Nominal quotations are as follows: No. 108, #175-102: No. 121. $185-194
The market is quieter since the last report, but with further busi Deas in Grey and White Shirtings. 11261 Mattings, Italians, Twills, and Art. No. 168. $195-200; No. 20s, $205-210. 96 364 Silke. Small lots of Stripe and Arrivals, 100 bales. Shipments,
Cord Shirtings for May shipmentni, Sales, nil. Unsold stock, 900
Deliveries still bales. Bargains, 4,800 bales,
57
... 110 108
.38 have been done. 的 97
2402 2463
remain good, and profits on low
1104 1104
grade cloths have improved further
100 100
691 72
Catbon prices remain steady, but Manchester da Armer.
Another
Consolidated Gas of N.Y. Coty Incorporated Davison Chemical
041 642 Du Pont de N., E.L. (Com.) Dry Docks
21 211 Eastman Kodak...
.. IBS 188
184 For Film "A" General Electric Co.
*340 2101 General Motors...
80 sa General Ely, Signal (Com.)... 105 106) Gold Dust
70 70 Goodrich Bubber
96 991 Granby Consolidated... 91 951
371 37 72 73 93 93
146
---
Great Western Sugar Haygart... International Cement (Com) International Match, Pid International Nickel (Com) International Printers Lak. Inter. Kairinator
Products Corp. (Com.)...
Kennecott
***
Ziggest & Myers, Clam "E" Copper Mack Trucki
Madison Square Garden" Mathison Alkali
Missouri Fucise (Com.) Nash Motors
90
601 60
57 STI
—. 101
101 10
101 1034
901 901
107 1061
주님
2011 108
82813
-208)
1017 191
687 61 190) 1801
193
154 57+67 14111391 701 697
Las
771 77%
41
National Distillers Ptd National Dairy Products
Nerada Consolidated Coppar... N. T. Contral Railroad Norfolk & Western North American Aviation Pacific Gas and Electric Co.... Packard Motor Car (Com) Pennsylvania Railroad... «... Paramount Lanky Phillips Petroleum Radio Corporation Baypolda Tobacco, "B" Shell Union Oil.. Southern Pacifio Raliway Standard Gia & Elec. (Com)... Standard Oil of New Jersey... Standard Oil of New York Texas Corporation (Com.), Tax Galt Sulphur Union Carbide Timken Roller Bearing
Union Pacific R.R. (Com.) U.S. Leather A”
404
... 838 $40
57 58
281 28
1291 1801
90) 00 541 634 412 421
... 74 78
188 128
... 218 2183
*
50448
91 器
... 1571 188 ... 128 1201
1004 106
Abolition of Likin. However, unfortunate cases in which militarists up country have sought to levy special duties which are not authorized by the Govern ment have come to the notice of the authorities. With the abolition of U.S. Really & Imp. Co. likin it is expected that goods going U.S. Steel into the interior will be exemptVacuam Oil from minor levies except those ex- pressly prescribed by the State Council. Such tariff duties have existed in almost every country on different occasions. Effarts are be ing made by the Government to eliminate these unauthorized taxes.
The new tariff rates now in force are classified into seven grades. At the Special Tarif Conference held in Peking on October 28, 1923. Britain, the United States and Japan proposed a series of increas ed rates for adoption. China also proposed a set of different rates, which are much higher than those proposed by the Powers. At pre- sent the National Tariff Com- mission has struck somewhat of an average between the two classes of
Vanadium Corp. Westinghouse Elec. (Com.), 157 158 Wright Aeronautical ... Willys Överland Co.
ratca
Seven Grades.
The following are the seven grades of rates in percentage:-
Proposed by Powers
де
k
Grade
A
221 per cent.
11
19
Production in Cuba continues at a high rate. The Cuban Sugar 275 Club gives the production up the 200 31st ult. se 1,197,143 tons, against 215552,000 tons last year (sher grind. 210ing commenced on the 15 January)
and 858,408 tons in 1927.
211
We maintain the opinion express- CANTON OIL MARKET.
ed in our last review. Before de- finitelyadvising purchases, we would The groundhut oil market has prefer to await the attitude adopt- heen inactive and prices have fallen.ed by producers during the next Camelia-nut oil is not in demand but its "price remains steady as arrivals are short. Wood-tar oil are dull.
Latest quotations were:- Groundnut oil, Fongtze ...... $24.70 Groundnut oil, Pokshan 24.10 Camellia-nut oil
..... 21.10
Bear Ol
Wood-tar Oi!
W
18.50
29.90
the idea that
few weeks. For those contemplat- ing purchases on prices are cheap, and that thera may be crop accidents and con- sumption developments-perhaps in the East, we feel inclined to recom- mend scaledown purchases Di December Raws, which closed last night at 96./4d.
Close
London:-(White) May 11./8d, last"weck 118./ski;
CANTON STOCK EXCHANGE,August 198./04d., last week 128./0d.
·CLOSING QUOTATIONS.
CANTON, March 24. Water Works
... $3.90 Electric Power & Light Co. 4.65 .59
Canton-Hankow Railway
The Sun Company
Sincere Company
80.00 ..104.00
Nanyang Bros. Tob. Co. ......
Tramways Company
4.40 9.80
China Merchants'
Steam
Navigation Co.
50.00
Central Bank of China
***** 47.00
· EXCHANGE · RATES.
[aITIK WIRELESS SERVICE]
Ruany, March 24. 324 7/39
Paris Brussels
Amsterdam
Close London-(Raw Best), May Bs./8id., last
week 8./111d.;
August 08./id., last week Ds./3jd.
རྒྱུ
22
Proposed by
China (Now in force)
27 per cent.
+
5 11 21 1
כל יג
Generally speaking, foreign im- ports are classified under the above seven grades according to their. nature, use and demand. Detailed import tariff rates as promulgated by the National Government on December 7, 1928, are published ip pamphlet form, and are avail- able at the National Tariff Com- mission.
STAR
THEATRE.
Our latest cable advices from New RETURN SEASON
York state that pressure to sell augar still outweighs all other factors Refiners appear well sup- plied for the near future. Eews are freely offered at £18/16c. Heavy March liquidation is in evidence. Our correspondents be lieve the price.
discounts bearish factors.
Another correspondent is inclin- ed to recommend purchases of December at about the present level, especially when March liquidation is out of the way.
May 1.99., last week 2.05e.; July 207c., last week 2.13c.; September 2.13c., last week 2.15c..; December. 2.20c., last week 2.18c. 17
New York
34.00
12.12
Milan
92.70)
Stockholm ....mu
18.171
4.85!
Oblo
18.193.
Geneva
24.93
Prague
184 13/18
Berlín
20.452
Madrid
32.90
Copenhagen
18.91
Athens
374
Vienna
34.59
Rio
Helsingfors
1007
Bombay
.1/6 31/32
Lisbon.
109
Hong Kong
1/114 201.
Bucharest
8101
Buenos Aires
47.8/10
28 3/10
Shanghai
1/9.15/16
Silver (spot)....
Silver (forward)
5 13/16
(Continued at foot of next column.)
Yokohama
OF THE
BANVARD
MUSICAL COMEDY COMPANY SATURDAY
& SUNDAY MARCH 30th & 31st THE BIG LONDON AND NEW YORK SUCCESS.
"LIDO LADY"
FIRST TIME IN HONG KONG
Mon.&Tues."By REQUEST
April 1 & 2. THE NEW BITE
Wednes. *CLOWNS
April 3, `IN CLOVER'
Booking Now Open at Montries and Theatre, Prices: $4, 38, 32 & 31; :
304 30 2871276
report states-Thore hs been exquiry for Grey and White Shirtings, but Manchester prices have hardened and many of the offers have proved impractic able. There is a ready demand for spot" cargo, but, stocks of Shirt- ing are small, due in part to the absence of Japanese goods. Clear- ances, though. satisfactory, have dropped off during the last week. but a good afftake is expected during the immediate future,
Raw Colton.
Nothing doing,
TO-DAY'S WIRELESS
PROGRAMME. BROADCAST BY ZB.W. ON 330 METRES.
1.49 p.m.-Weather report. 3.30 to 8.30 p.m.-Programme of Chinese music. (Records supplied by The Canton Trading Associa. tion),
(Continued on next Column).
В
Mrs. M. Arkley Tells How Cuticura Healed Daughter
"My daughter had eczema aver nine months. It started with lab pimples on her scalp. After a while the pimples broke and the scene spread almost all over her head. I had in keep her head bandaged to prevent her from scratching it during the months of torment. It caused sleepless night, and she lost tim in school on account of it.
"I tried several remedies but aba got no relief until
applied CorlearE Soap and Ointment. The first few dressings relieved the frillen and In one month she completely bealed." (Signed) Mrs. M. Arkley, 53, Marmer St., Hartford, North- umberland, Eng.
•
Make Cutiana Soap and Oferment your every-day tollet preparatione and have a clear, sweet skin, so amooth banda and a healthy scalp with good hair,
Sample each Soan Olahant and Talen free upon request, from Daykan, * Comokay, Lady P. O. Box 650, Shanghai, Bold Throughout the World,
7.48 p.m.-Evening weather re- port.
(Columbia fecords
p.m.-Evening.
programme supplied Messrs. Anderson Music Co.).. 10.10 p.m.-News bulletin. 10.30 p.m.-Clone down.
FILSENER
ST. LAMOI
BEER
JUST TO REMIND YOU.
ST. LAMOI THE POPULAR PILSENER WITH
A REPUTATION FOR UNIVERSAL SATISFACTION.
OBTAINABLE EVERYWHERE
DISTRIBUTORS :-
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SHANGBAI. SINGAPORE & WEIHA WEI.
G DE
DINING
LUXE
On the New
OLYMPIAN
Service by Rector
One of the joys of trans-American travel on The OLYMPIAN is the delicious food prepared under the direction of George Rector nationally famous chef.
inter:
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Plan to cross America on this famous train.
For further information address your nearest steamship office, or
R. E. CARSON Gral Agent Pam. Dept., Scaitle
R. F. RANDALL
Dac. Past Agent, Ben Franciscs-
E
A. P.-CHAPMAN, JR...
General Agent, Victoria
L. F.BAHL
Asst. Gen'? Pata, Agent, Scattle
Cable Address “Müdauku"
EJ. CALKINS General Agent, Vancouver
W.ADEON
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