Money and Markets
HONG KONG MARKET
REPORTS.
Quotations at yesterday's local market for rice and other foodstuffs were as follows:-
Rice.
Per Picul.
Red Seal, Sai Ser
$9.32
Red Seal, Broken .....
6.35
Red Seal No. 1 granulated...
5.70
Hung Pan
KOS
Black Seal, No. 1 Poktaci"
granulated
<3
+1.98
Black Seal, No. 1 White Bran. 319 Black Seal Pokmei Bran... 26 Red Seal, No. 1 Pokmei
Broken
Black Dragon
A.01 7.80 5.78
Green Seal, No. Pokmu Green Seal, No 1 Pokmei ... 540 Miscellaneots.
"No. 24 Course granulated
1 sugar
B 1.69 Dried Mushrooin, Mokso... 480.00 White Grapes ....
39.00
Пest
****2,540.00
Selected whito edible bird's
Groundnut oil, Fouge
0960
CANTON COTTON YARN MARKET.
A Shanghai cable dated the 14th inst reports that the markes for Chinese cotton yarn has improved while that for Japanese yarns is still slack. In Cantor, prices con tinue low and variable as the me?- chants are still unable to predict the future of the Japanese yaru market on account of persistent rumours that though the anti- Japanese Boycott Committee has been disbanded it could be reor ganized, and search for "undesir
continue.. "able goods" would
Quotations on Sunday were as fol. lows:-
No. 42 Five Sons
Butterfly
Happiness
No. 32 Pagoda
Double Horsea
Тіл Кооп......
Pine Tree and Deer
Sheung Hee
No. 20 Gold City
Globe
Good Harvest Fui Sing
Double Horses Tin. Koon Sheung Cheung Ng Fook Tramcar Shepherd Poo Tee Three Starg
No. 10 Globa
Foo Kwai
Yan Chung
No. 12 Golden City...
Peacock
Foa Kwai Foo Yee v Tramcar
Pretty Damsel Aeroplane
Tak Lee...
No. 10 Sailing Vessel
No.
Golden City Peacock
8618 600
CANTON TRADE NOTES.
X
The groundnut oil market is dull.
Last week 100 chests of antimony ore and 200 chests of wolfram ore, mined in the North River district, were exported.
.
THE HONG KONG DAILY PRESS. TUESDAY, APRIL 16, 1929.
Canton imported 49.000 bags of rice last year. The supply from Saigon" Was small and larger quantities were wanted.
The price of poultry (hens, ducks and geese) has again risen owing to shortage of supplies from the districts. Foultry ment is being | sold at about 860 per picul.
NEW YORK STOCK EXCHANGE.
GENERALLY IMPROVED POSI. TION BUT TRADERS CAUTIOUS.
PRICES HIGHER ON FIRM
BASIS.
New York, April 4:--The technical position of the stock market has improved, but traders continue to be cautious because of the credit situation and agitation against speculation.
ITALY AND THE
HOLY SEE.
CARDINAL DUBOIS AND THE NEGOTIATIONS.
GREAT AND SAINTLY
POPE."
EXPEDITION'S WORRIES.
TROUBLE. OVER EXPENSES,
CHINESE DEMANDS:
Peping (UP):~An unofficial Chinese society. the Commission
tural Objects," has almost wrecked the fifth Central Asiatic Expedition into Mongolia, under the direction of Dr. Roy Chapman Andrews and Dr. Walter Granger of the Ameri- can Museum of Natural History of New York.
The following article written, by for the Custody of Chiness. Cul- Cardinal Dubois, Archbishop of Paris, appeared in the Matting of Naples, March 6., It was the first discussion of the recent conciliation between Italy and the Holy See, written by a Cardinal, and the Rome bureau wired to Heinzen in Paris asking him to have Dubois confirm its authenticity. The Car- 'dinal admitted its authenticity and gave the United Press permission to use it.
Trading to-day was dull. The oils were sluggish despite optimism in some circles regarding the even- tual'outcome of President Hoover's petroleum conservation programme. Standard of New Jersey closed at 353, up three-eighths, while Stan- dard of New York was quoted at the closing at 43), up a half over the previous day's last figure. Mandarin oranges, China's larger Texas Corporation closed unchang- and more tasty variety of theed at 034. Among the independents tangerine, are grown very largely Marland oil closed at 41 compared at the same time most detailed pärt
A company is being organised in Swatow for the agricultural de- velopment of the fertile Taipo dis trict on the banks of the Han river. A capital of $1,000,000 is being asked for."
|
in the Chao-an district, near Swatow. According to Ministry of to 19.
·Reconstruction statistics the num her of trees in the district is.about. 769,800, and the annual output of fruit about eight million piculs, These oranges are greatly in de- mand in the Philippines, Malaya, Shanghai and Tientsin.
HONG KONG STOCK EXCHANGE.
CLOSING QUOTATIONS.
AFEIL 15, 1929. H.K. Banks .................$1,245 vol.
Do., London...132 nom. Chartered Banka....................Eisg bay. Marcantile Baola, A. EN...£34.com.
Do
...£15 nom.
592 P. & D. Banka
404 | East Asia Bankı
480 Dautui, insurances 478 Quian Luannaces
489
North Crana tra.
-mou 76**
$90) nom.
$695 bey.
$375 Bel „Tin. 160 buy. AL $50 nom.
483 Yangtze Lastrac 335 China Underwriters 334 China Fire Lusurances.... 4290 buy. H.K. Fire los. ........$750 nom. 330 330 Douglases manda ..$36 sel. 330 H.K. Stasmoa... 241 sel.
2.10 nom. soft nom. 330 Indo-China (Fri)...
Do. (Def.)92 nom. 317 328 Shell Transport 58- nom. Union Waterboats.........29
390
328 Benguete nueniq........nd buy. 328 Kailan Mining Aunin....to/ nom.
Langkat (combined)..... Pia. 14 nom. 308 Do. (single) Tis. 74 nom. 302 8 Explorations .......... 17. 2.90 sel. 30 Bhanghai Loans Tison. 286 Tronoh Mines
Kaube
$6.85 Cm 17/6 cla 986 HK & K. Wharfa......128 buy. 284 BK. & W. Dockt 187, sel. 280 This Providents ...... ...$4.85 bay. 276 Hongko
..Tim. 178 bay. 282 New Engideeraga Tls. 4.83 buy, 282 Shanghai Docka... .... ...........113 1211 bay. 278 Ewo Cations
Tls. 12 bay. 276 Oriental Cottons.........Tls, 1.9 buy, 276 d'hai Cottons (old)...... Tik: 734 bay, 958
1.74) sa. Do. (new)......Ta. 33 bay. 255 BK & Hotels18,80 com. 979EK. Lands $621 gəl. 290 Shanghai Lands.........Tia. 171 buy. 272 Humphreys Estates......$14.85 buy. 952 B.K. Realties buy.
Lotus & Bee
Double Lions
258
Five Lions
Yan Chung
Tai Fat
Tak Lee.. Excellent Crops 8. Lion
Lion, the second Eut Hou
DUTCH EAST INDIES.
204
U'S. Steela.
Caited States Steel Corporation common was strong, closing at 158 compared to 180 Bethlehem Steel also rose sharply, closing at 111 up
"
In the communications issues American Telephone & Telegraph common closed at 2217 compared to 216), while Radio Corporation of America was up 31 to close at 103.
General Motors also was higher, eloring at 88 compared to 831 Packard Motors common was up 21 to close as 1311.
The rails also were higher, New York Central closing at 183, up 3, and Pennsylvania at 75%, up seven- eighths
This society presented a series of demands to the Expedition leadera. last winter, and conversations have been proceeding nt intervals ever since. On more than one occasion, the American scientists have threatened to give up the expedi tion altogether. This year's journey
the last of the series, and was to into Mongolia was intended to be
be devoted to a final search for the "missing link."
The advise begins:- Paris-Regarding the Treaty and Concordat recently signed between, important to stress, a fact that has the Holy See and Italy, it becomes not been sufficiently brought out. that is, the personal, active and taken by the Sovereign Pontif in
Work Upon Fossila. elaborating the concordat, and still more the supernational inspiration The Chinese society bas demand- which has constantly guided bised that the expedition be made a
efforts.
Supernatural Principles. It may be said that during the 30 months spent in negotiations His Holiness Pipe Pius XI. examined everything and saw everything so that this memorable diplomatic and religious document does not contain a single article which the object of his careful meditation. Eis wish to fulfil God's will and act in the highest interests of the Church and the faithful did not for a moment cease to dominate and direct his purpose.
WIL
not
For this great Pope is also a saintly Pope.
When one speaks with the Holy Father, one feels that he refers
Retention of the New York re-everything to supernatural prin- discount rate, when i rise had been ciples, and that he weeks in every feared, strengthened the outlook.event the signs of Providence. He Washington added to the general was struck on
the coming to hopefulness by announcing broker- Introibo" of a mass he was cele. age loans figures were down to brating by the following words $5,532,000,000 4 decrease of more which seemed to him like an answer than 887,000,000 over the previous to his prayers and bis anxieties: Ego cogito cogitationes pacis et non afflictionis."
week.
Traders were watching the session of the regional governors of Federal Reserve Banks in Washington with the country's big banking interests, and were heartened somewhat by the announcement of Secretary of the Treasury Mellon that no artificial methods to check speculation were expected.
Total sales on the Stock Exchange to-day were 3,323,800 shares com. pared to 4,027,000 yesterday.
General Market.
All the greatness of the Popes who preceeded him seemed to be summed up and concentrated in his work. One feels, that there is a miraculous continuity between the work of the present Pontiff, and that of his heroic predecessor in all that concerns the realization of international peace.
Ubl Arcanum.
jointChinese-American
venture,
but that the Americans shall pay the entire costs. They have agreed that the American scientists shall take back their finds to New York, but only on condition that they pay
the
51 sumber expenses of
of Chinese scientists "to. America, and that the fossils eventually be re- turned to China."
of
One condition which the Ameri- cans have positively declined to net is that a Chinese be placed in joint charge of the expedition, ranking equally with Dr. Andrews in every respect, although he undër. takes to provide no money or ex- perience.
Dr. Walter Granger, chief aD- thropologist the American Museum, has spent the winter in Peping, working upon fossila dis- covered in the last expedition, and with the Chinese negotiating society. Dr. Granger has spent with, the many hours talking Chinese, endeavouring to convince them the their demands are un- He has pointed out reasonable. that anthropological finds are of common interest to all nations, and that if the American Museum is.
willing to pay the entire costs of recovering certain fossils, the Chinese have no hold upon" them, even if they are found in a Chinese dependency-Mongolia.
Dinosaur Eggs.
Dr. Andrews is anxious to meet some of the demands of the Chinese society.
he declares the original demands were quite im possible.
But
The expedition this year has been intended as. the Enal, in the The masterly intelligence of Leo Mongolian series. The yields of XIII. reappears in him because he previous expeditions have been very too discerns through the veil of rich, including fossils of many ripening contingencies the pro-animals hitherto unknown, and of found laws of social life. He too dinosaur-eggs, discovers new formulae, thanks to material which threw a new light which the order of Providence con- on many periods of human history tinues to be realized.
In his encyclical "Ubi arcanum " Pope Pius XI suggested the mag Call money was renewed at 10nanimous plan which he has realized ier cent. at the opening of the in connection with Italy. Benedict XV was a missionary pope, but market, but declined to 8 per cent. and finally to 6 per cent., on the Pius XI. has given a great reson strength of an expected retention of
ance to the duc in" altum" which the re-discount rate and the heavy
in his turn he addressed to the decrease in brokerage Ioane. This apostolic missionaries, situation aided a quiet rally in prices, but the confidence of traders in an early restoration of complete ly normal conditions was not too great and many of them indulged in considerable profit taking to wards the close of the session at a
The market, at the opening was. In this connection one may recall highly irregular and many stocks a speech on the over une actual. ness of "Rerum novarum." But is sold off Professionals finally be gan bidding on their favourite
there any need to remember his ad $6.90 nom.
dresses and discourses? Is not the ...407; nom isauce, however, and U.S. Steel $13.40 buy. & sa., Corp., common, advanced sharply
act by which an approach to the . "14, 3 કર્યો.
Vatican is offered to new Italy one followed by the store stocks. ..$50 buy. Bethelhem Steel made a strong start
of the most daring ever effected which was maintained.
by, the papacy?
BK Tramways..... $18 boy. 16.30 sal, 106 Feak Trams (old) .......................... boy.
198
RUBBER OUTPUT FOR 1929.
It is estimated that the produc- tion of rubber for the whole of the Dutch Indies during 1929, will be 148,396 tons, of which Java should produce 63,444 tons
Star Ferries
Chins Lights
... nem
F.K. Electrics Macso Electrics Bandakan Lighte Telephones.............$7 bay
... 11, là bay. China Buses ............. Singapore traction......11/6 nom.
Lo. (Pret.....1816 bay. China Yoga*****
$1 Mol. Malabon Bugarn.192 buy. Canton lees1 bay, 1,90 el. Coments (combined)......18 el.
Do. (old)......$7.20 nom.. Do, The production of ten is estimated HK. Ropes
(now)....$1.50 buy. at. 72,525 tons, including 02,258 tons United Asbestos m from Java, and coffee at 939,338 Dairy Farms.... piculs (Java 775,749 picula).-Aneta.
Watan Der A Wings... Lans Omwtarda..... Mackintoshs***
EXCHANGE RATES.
(DKITIBE WIZZLESS SERVICE)
Patis New York Brussels
Geneva...
Amsterdam
Ruoay, April 14.
124.245
4.85 15/33 34.505.
95.92
12.09)
Milan
-99.695
Berlin
20.465
Stockholm
Copenhagen Oulo
18.18 18.21 18.20
Vicama
Prague
Helsingfors
Madrid
Lisbon Athens
Bucharest
34.57
104.
103
39.375 1081
375
$18
Rio.........
5 29/32
Buenos Aires d
47 5/16/
Bombay
Shanghai -
Hong Kong
Yokohama.....
Silver, spot & forward
1/5 15/16 2/6 1/11
1/10 1/16 23 13/16
nel.
buy. BO.cts, bay. Del.
I buy Sincere
SII buy Wo. Poweli.............$3.65 nom. H.K. Amusements.225 .. H.K. Constructions...1 wel. B'que. Indus Bonde...6% noi,“ H., Gori, Loans 74% prem, buy buybuyers sel-sellery; sa:-salesį. nom, zomini
TO-DAY'S WIRELESS
PROGRAMME.
BROADCAST BY ZB.W. ON 350 METRES.
1.48 p.m.-Weather report. 5.30 to 0.30 p.m.-Programme of Chinese music (Oriental records supplied by The Sincere Co., Ltd.), 7.48 p.m.-Evening weather "re port.
8 p.Evening programme. (Columbia.trecorde supplied by Messrs. Anderson Music Co.), 10.10 p.m.-News bulletin. 10.30 pm-Close down.
13.2L
y
The rails went forward late in the session encouraging the general market outlook, which also was im proved by the expectation of traders of a favourable decision in the O'Fallon case which goon is to come up in St. Louis. "A favourable decision in this case will benefit the common carriers greatly,
Copper stocks generally were de pressed and the oils were subjected to moderate pressure. The final drop in call money near the close of the market strengthened the en- tire list.
American commodities and stocks prices generally were somewhat irregular to-day with a tendency to higher prices The news generally was of a bullish character.
Cotton was firm and generally higher as was wheat. Sugar and rubber were both lower.
1.5 well
88" of
According to present plans, Dr. Andrews will not lead the expedi tion into Mongolia this year, but will remain in Peping, settling the affairs of the expedition so that the group can return to the United States at once when they get back from Mongolia next September.
The expedition will therefore be directed by Dr. Walter Granger, Leo XIII. disassociated in France chief anthropologist, who has been religious interests from those of the second in command of all previous monarchy.
has Pius XI going still expeditions. Dr. Granger further, did not fear to adopt as worked with the American Museum essential condition & territorial for almost forty years, most of the sovereignty, deriving from the time in out-of-the-way places. His claims of the ancient Pontifical wife, who has visited many remote state. How then can we not recog localities with him, will probably nize in him the providential go to Mongolia for the summer, with missionaries near the Pastor?
expedition's field base.
The Kellogg Pict.... How can we not submit to this- incomparable spiritual government when the Pontiff's word exercises on the consciences of the peoples so remarkable an empire.
I note an important fact. Does not the Kellogg pact, signed by all the nations, reproduce ten years after, one of the most important de clarations of Benedict XV. "it is first of all necessary that the moral force of right be substituted to the force of arms."
Moreover, the recent unanimous. applause of the French Chamber to M. Duval-Arnould was given for a speech in which he quoted many passages of the immortal encyclical. Many commenta and forecasts have been made regarding the re- sults of the conciliation between the Holy See and Italy, and several in- accuracies have been revealed. Some people have alleged that the This is a fact of yesterday. But Pope's dependance on Italy will how many similar facts could be be rendered closer and more pro- cited in this century in which cer-found stricter and more embarras short-sighted spirits would sing by this treaty, What a grave have willingly predicted an eclipse error! Instead of residing in an of the papacy 1
Italian territory, of which he enjoy When the negotiators of the ed the beneft but not the passes- Treaty of Versailles sought to un-ion, the Pope will be in his own nounce the directive principles of an home, in a dominion of his own, in drags from South China "ports equalized regime of work, did we and, small though it may be, in his police to-day announced the seizure not see them have recourse to the own kingdom. of 76 additional cans of opium and encyclical Rerum Novarum" in
rest of two men believed to be order to agents of the opium ring.
OPIUM FOUND IN ANIMAL | trän
CEMETERY...
Manila, April 8.-Continuing their campaign to stamp out the traffic
maxims?
As to the concordat, it contains
take and adopt ita especially as regards matrimony
The Concordat. When they did in the democratic
The drugs were found buried in an suimal cemetery in Pasny, on the outskirts of Manila, and were. atmosphere, do we not find repeat valued at about G.65,000.
ed in a very different regime in the
some most important décisions. Religious marriage, thanks to the concordat, regning the position due to the dignity of the sacrament.
As to the position which the new
The Filipinos arrested, a father"abor Charter" which will re-kingdom may occupy in the League and son, are being questioned in an main, without doubt, one of the of Nations, I do not think that the effort to get evidence against the most memorable acts of Mussolini's Sovereign Pontiff will want to avail leaders of the..opiam importing Government!
ging,
(Continued on next Column).
himself of a right which none could dispute him.
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