Money and Markets
HONG KONG MARKET
REPORTS.
Yesterday's market quotations for foodstuffs and edibles are as follow :-
Luk Sa Arh
Rice.
Hung Muk Keng
Ching Kum Chien
Broken, Black Seal
Granulated, Blue Seal
Reddish, Pokme:
Blue Seal, No. 3
Glutinous,
Ching
Hung
Broken, Green
Cherk Glutinous
Beal Unglutinous, Hung Long
Koon
Miscellaneous. Sc., 19. coarse granulated granulated
No.
sugar
BUERT
coarse
Brown sugar, Java Red copper in sheets
Anisced
'Green Bean
Green Teang
Per Picul.
$7.32
7.41 ..0.96
.
METAL REPORTS..
By the courtesty of Messri. Fen- treath & Co., we have received the following report, dated April 23, from Memrs. Hereby Hemelryk & Co. of Liverpool:-
Coppor
Close yesterday: Cash, £77.125; 8.00 fast week, £78.00; three months, 5.94 £4.12.8; last week, £73.15.0.
5.76 7.01
Fluctuations in Standard have been more moderate during the past 7.98 week than for some time.
The danger of a bear squeeze is 5.53 very real, as the recent slump has probably left the market in a 7.05. heavily over-cold condition, whilst stocks in the United Kingdom Warehouses have every appearance 88.75 of showing a decrens at the month end of something like 3,000 tons. 7.33A better tone has developed recent 6.43ly on good buying for American 32.00 account, whilst sellers are hesitant. 17.40 The World production figures for 6.60 March at 192,792 short tons show 32.00 output running on record lines, but
there has never been any uneasiness
concerning smelter possibilities, the more important question being that HONG KONG TRADE NOTES. of Refinery capacity. Carnda is about to erect new Refineries, one of which will have an initial Among the various lines of busi-capricity of 120,000 tons per annum, but about 18 months must elapse ness affected, the sugar market before it is ready for operations suffers the most, then comes the On the whole, we look for higher Bour market.
prices, not only in London, but Also in the United States quotation lor Electro.
The market for piece goods is also unusually quiet. Recently, many merchants in Canton placed orders with firms in Shameen in-
stead of Hong Kong.
4
The market for Japanese cotton yon has been inactive since the The market for Tsiran Affair. Chinese cotton yarn has been good, however, since the anti-Japanese Boycott.
Close yesterday: Cash, £2326; last week. £203.30; three months, 2203.0.0 last week, £205.13.0; New York, July, 44.60c.; last week, 44.83c.; New York, September: 44.80c.; last week, 44.85c.
Persistent heavy liquidation ca125- ed values, to decline beavily during the week, and, on Friday, £200 per ton was broken for the Arst time since 1923. The weakness continued as the opening on Monday, but from this point very definite sup port by the. bull Kroup, who have bought heavily in the Forward position, fenews confidence that their efforts to control the market have not by any means been aban
These operations have widened the contango to 375./6d.
As a number of steam launches and junks have resumed sailing between Hong Kong and Wuchow, increased imports from Ewangi Joned. have resulted. Hundreds of cattle, over a thousand pigs, al consider able quantities of poultry, wood- tar oil, fire-wood, etc were lately taken to this Colony by the s... Tai Ming and Kochow.
+
per ton.
THE HONG KONG DAILY PRESS, MONDAY, MAY 20, 1929.
DIRECTORS' RIGHT IRELAND'S CUSTOMS. ACQUITTED MAN TO BALLANTINE'S
PAY COSTS.
TO VOTE.
MAJORITY DECISION IN IMPORTANT APPEAL.
CHARWOMAN INVASION,
The Court of Appeal, consisting of Lorde Justices Serution, Greer, and Russell, dismissed by a major |
WAREHOUSES BUSY AGAIN.
INCREASED WHISKY
CONSUMPTION, »
(British United Press.)
Risen from its ashes after the ity the test appels brought to holocaust of 1991, the Irish Free decide whether the director of a State's great Customs House is company could obtain a vote by functioning again. Reconstructed renting a room from the company internally it has been brought up of which he was a director.
to date in every possible respect,
Adjoining are the Customs Bouse Docks and Port's huge bonded ware houses which have been rehevated and considerably enlarged. Within
The cases were the first of the kind, and arose under the provision of the Representation of the Prople Act relating to the conditions on which a business vote can be ob- tained.
APPLICATION FAILS AT THE OLD BAILEY.
:
in use for almost 100 years.
ESTABLISHED 1827.
By Appointment ba..
WAITER'S BARE CASE.
H.M. The Late: Queen Victoria
H.M. The Lasa King Edward Vil.
And
An application for costs against the Crown on behalf of Walter
His Majesty King George V.
SCOTCH LIQUEUR
WHISKY
Edward Read, aged thirty-two, the PURE waiter who was acquitted of a charge of assaulting a woman after ha had previously been discharged by the Bow-street magistrate, was dismissed at the Old Bailey,
The case
10 years old. GEORGE BALLANTINE was brought by the
& SON, LTD. Director of Public Prosecutions under the fat of the Attorney. General through a bill to the grand GLASGOW AND LONDON. Mr. A. J. Frost, of Goswell Road, the vaults of these buildings, which jury, after Sir Chartres Biron bad DISTILLED IN SCOTLAND E.C., A Labour member of the Fine cover about 20 acres and extend held that there was not sufficient bury Borough Council, appealed under the River Laffes and adjoin-evidence to commit the man for from a decision of the Sboreditching busy thoroughfares, are stored trial. County Court judge that Albert Harding Casion, of Chiswell Street, about $30,000,000 worth of "dry"
wet" goods for the E.C., was entitled to a business Vote and
room which he chants of the Saorstate. in respect of occupied at that address.
Becond Appeal. Mr. Frost also appealed agains the decision of the Finsbury County Court judge bolding that John Wilkins, of St. John Street, Fins bury, was entitled to a business vote in similar circumstances.
Mr. Laakey, for the respondents, submitted that in law any servant of a company could acure a vote on the same terms as directors. Mr. Caslon va a director.
Am
Lord Justice Scrutton: right in thinking that a large zum ber of votes will, depend on this
decision
Mr. Lasker: In the future, yes. In this election the number is about ferty, because in other cases the registration officer has given his decision and the time for appeal ing has passed.
"
Here's Health)"
50,000
If you want a really first class Scotch Whisky at a reasonable price,
hare no better The Old Bailey jury," after'a trial) you can
thai
It is mer-lasting two days, acquitted Read in Ballantine's Liqueur 'Whisky.
excellent. twenty-two minutes.
casks of Irish
**Unnecessary Expense."
Mr. W. B. Franklin, for the de- The French - Store fence, submitted that in a case such as Read's a prosecutor was liable. for costs and a prosecuter would. include the Director of Public Pro-
Nearly whisky are bonded in the ware- houses. No whisky under five years old is allowed to be withdrawn and the Irish distillers do not put on the market any, whisky that is less than secutions. seven years old. The consumption.It was a case where the man was of Irish whisky has considerably re- put to unnecessary expense. There duced since the Great War owing to had not been a similar one for prohibitive duty, In 1900 the "duty twenty-six years, said Mr. Frank- on pot-still whisky was eleven shill-in, who suggested that the reason.
ings per proof gallon. In 1919 it was 50 shillings per gallon, and in 1920 it was 72 shillings and sixpence per gallon, which is the present rate charged.
Beaconsfield Arcade.
W
7′HY'„Continue to suffer when POO ON HERBS are within your reach-Pimples, Catarth, Asthma, Bronchitis, Cough, Constipation, Dia betes, Dropoy, Kheumatism, and many other Diseases. No Drogs, Farely Chinese Herba, -
POO ON HERBS CO. why such procedure was taken was 66, QUIIN'S ROAD CENTRAL, 187 FLOOR not because of any complaint from the parties interested but for on- other re
The Recorder: Do you not com- plain that the conduct of the Director wai vexatious?
During the last four years the Lord Justice Serutton, giving output of the Saorstat distillersies
Mr. Franklin: I. should rather judgment, said that it was only be
say it was hazardoue-dangeroun, has fallen more than twenty-five per cause the general election was 50
The Recorder, giving his decision, In 1900 there were twelve said I see no circumstances to near that the court and not sent cent. this case back for proper findings working distilleries, which purchas- suggest that the intervention of the of fact; in more than one way, theed annually from Irish farmers near Director in continuing the case procedure before the registrationly one million barrels of barley. after the chief magistrate refused officer was defective.
To-day there are only three dis- to commit was either frivolous, The gases arose because Parlistilleries, working part-time, in the rexatious, or in any way tyran- ment, in its wisdom, had thought Saorstate, and the proportion of nical. This man has been acquit that, so far as companies were con-grain they require scarcely exceeds ted, and properly acquitted, by a cerned, representation should not 50,000 barrels. Another cause of jury. follow taxation. The directors of the decline in the whisky trade is Mr. Caston's company thought that that the people in this country are.
Competint Authorities.
.
TEL C. 5006*
HONG KONG STOCK EXCHANGE.
CLOSING QUOTATIONS.
MAY 18, 1999, HK. Sanks$1,205 buy., 1,930 m.
Do London...£133, nom. Chartered Banks
m.fle bay. Hercantile Banks, A. B... £33.00.
Do
C218 com,
.........190 sem,
P. & O, Bazk£9. East Aris Bac
Back Canton Insurances...696 bay. Union Insurance... $305 an
The call for Tin in America muse they saw a way of correcting this drinking, less alcoholic liquor alto- mine is whether it was reasonable Chiza Underwriters ...$2.20 se3, '
be on an unprecedented scale as figures for March output of auto mobiles set up a fresh record, whilst that of Tinplate is also very high. It is learned from commercial On the other hand, there is cer circles that merchants are doing tainly more Tin than is waated, twenty to thirty per cent. less busi- and as developments depend upon ness than in previous years. To operations by the Group, the situn make matters worse, the wartion is quite artificial between Kwangtung and Kwangsi
Our New York metal correspon- has affected this Colony's businessdents cabled last night that the adversely. It is anticipated that the Hong Kong market will be market is steady but small.
further affected when the warfare breaks out in the North between Chiang and Feng.
*1
Lead.
ני
4.13.8;
injustice. So there appeared on the register of voters for the pre- mises the names of even persons— four directors and the wives of three of them.
gether,
ן-י '
$775 non
33
North China Ins. ........Tix. 160 buy. The question I have to deter-Tangtate Insurances.....M. $50 dom.
for the jury to investigate the case.
Chisa Fire Insurances...$300 buy. Inns Closing Down.
Considering the statements be made Hire Ins775 In 1913 the duty on a barrel of both in the witness-box and to the Dogs 23.
H.K. Stamboste beer brewed in Ireland was some policeman I am of opinion that it thing like seven shilling and nine- was a case which the Director and Indo-Chinas (Pref.) 471 bay.
H.K. Tegs... $2.6 sel Votelesa Company.
pence. In 1914 it was twenty-five the Attorney-General might well
Do. (Del.) $70 non. "I should be delighted," said the shillings; in 1919 seventy shillings; think ought to be investigated, in Shell Transports.........97). pag. lord justice, if any one would and in 1920 it reached the figure of spite of the fact that the chief
Union Waterboats.........$22 nom. explain the principle on which the one hundred and ten shillings. At magistrate, acting in the careful Benguets buy. wife of a business man, who take the latter figure the Saorstate Gov- exercise of his wise discretion, came Kala Mining Aamin...,60- buy. no part in the busines, is given aernment has retained it, with the to a contrary conclusion.
Lang kata(combined)......11. 14 nom.. vote, and why the company which result that a small barrel of Irish
gas. Explorations
Do. (single)..... ..Tla. 7; nom. pays beary sums in taxation has no porter, which was 86.60 in 1914, now
Ti. pom. stands at over 827.50.
vote."
I express ro opinion on the view of the chief magistrate, the Attorney-General, or the Director | Shanghai Logize. 63 110.
of Public Prosecutions I am con-
Bab
Tronoh lines 7/8 B.K.
"
123 sei.
week, £2.13.0; Forward, concerned he treated it as a genuine vour to raise revenue from spirits. fent to believe they are all highly. & K. Wharf ... $191) buj, 12
Close yesterday: Prompt, last £14.2.6; last week, £24.5.0.
The market has been steady CANTON TRADE NOTES. throughout the week. The back wardation tends to widen owing to Some scarcity of prompt Metal, and with arrivals likely to encourage fresh interest in the Forward posi ion. Consumers are still consider ed to be not too fully covered, and now that conditions are more stable, they may enter the market more
More than 2,000 bags of cement were imported last week from Hong Kong and Osaka to meet the
local demand.
So far as the agreement between Mr. Casion and the company was
agreement. The question was whe ther it gave the right to a vote. If it did, votes might be given in this way to charwomen.
He considered that Mr. Caslon's appeal should be allowed. Mr. Wil- kins' case raised different questions, and he thought that appeal should be dismissed.
K. & W. Docks.........336 com. China Providents... $44 buy, 5.40 soli Hongew...........11, 178 nom...
Engineering T. 6, bay.
Tls. 198 101. Shanghai Docks Ewo Cations.......Thlik 23, 127 m Oriental Cottons Thouy, 2.10 wel. Bhai. Cottons (old)..... 17. 7 buy.
Do, (new)....... 33 ba H.E,'& §. Hotels ... $8.89 m. HK. Lands 363: orm.
Tis. 1 non. Shanghai Landi Humphreys Estates.....$13.35
nom.
B.K. Tremway ****
$18.30 buy
The Government, in the endea. seem to have defeated its own pur competent, independent, learned high duties. pose by the imposition of these authorities, and the fact that one cannot afford to pay the retail prices i
The ordinary public differed from the other two does not any make it frivolous of for whisky. Many publicans have rexations for the other two to take been obliged to give up business an opposite view.
"This man has been acquitted, owing to loss of trade, small dis- tillers and brewers have closed sad it is a verdict which stands down, public houses have depre- for all time. I am not in any way ciated in value nearly 50 per cent., going behind the verdict of the Lord Justice Greer said be there is less barley grown, and hun-jury. I am simply deciding. I have thought that Parliament had pre-dred of people are thrown idle; ao power do make the order asked Spelter.
served the pluräl vote. He thought while the consumption of Irish for, and that if I had the power K. Hesition 38.35 i 23, both appeals should be dismissed, whisky abroad has declined con- it would not be a proper case where Close resterday: Prompt, £28.8.3; and he was not frightened by the siderably compared with pre-war should exercise it. The applica
ion therefore is dismissed." Forward, sggested invasion of the register days. £21.13.9: Considerable quantities of fire £28.3.9; last week, £26.11.3.
by charwomen and office boys. wood have been imported during
market continues very the past few days. Prices have fallen to a comparatively low level apathetic, the turnover on some
days being quite negligible. Con sumers appear to be comfortably
The rice market is fairly active as there has been a fair demand confidently. from the country districts. Prices are comparatively high.
*
last week,
The
The market for cotton yarn has covered for the near future, and slightly improved and prices aze producers are certainly not press. firm. Telegraphic advices from ing sales. The general positise at Shanghai indicate that the market the moment is rather featureless, is unchanged.
and lends itself to be infuehood in sympathy with any special move- ment in other Metals.
As a result of the strike declared by the workers of the Kailan coal mines, only very limited quantities of Kailan soal are being imported." However it is learned that the strike is nearing and end.
2.
To answer the demand upon cur reacy,
235,000 picces over Kwangtung 20 cent silver coins and more than eight thousand dollar coins have been imported from Hong Kong and other places.
*
16
EXCHANGE RATES.
[BRITISH WIRELESS "SERVICE]
RUGBY, May 18.
134/15 4.85 34.93 .... 25.18
of
Paris New York Brussels Geneva
A very dull market for ground nut oil is experienced as demand is short. Factories have suspended change in the work pending a market. The market for ground- nuts is also weak and prices have dropped.
•
сол
The exchange rate for Hong
has fallen Kong money siderably recently, and now stands at 81.27. Canton for 81.00 Hong Kong. On the contrary, the value of the banknotes of the Central Bank of China is rising higher and higher and the 81 note is at present sixty-eight per cent, of nominal valte. The exchange rate for Hong Kong money is likely to drop still more soon.
Amsterdam
Milan........ Berlin an Stockholm Copenhagen
Oslo
12.00
92.01
20.40
18.10
18,20
18.20
34.51
Prague
1037
Helsingfors...
10%
Madrid
34.06
1061
373
Vietna
Lisboa Athcas Bucharest Rio Buenos Aires Bombay Shanghai
Hong Kong Yokohama Silver (spot) Silver (forward),
818 5 57/54 47 5/16. 1/3 29/22
2/5 29/32 1/11 1/10 5/32 20+ 25%
Lord Justice Russell concurred with Curd Justice Geer.
TRADE' DEPRESSION IN
AUSTRALIA. '«
According to a tablegram re- ceived from Melbourne, the Nation- al Bank of Australasia's-sumTATUBIY" of Australian conditions reports that trade generally is depressed, building restricted, and unemploy
mens severe.
There is, at the moment, as much whisky in bond us would supply the needs of the Irish public for CAT BURGLAR HOLDS UP the next 21 years,
BURNING COFFIN IN A VAULT.
FIREMEN CALLED TO A CHURCH,
An uncanny experience befell workmen employed laying foundations for an electric organ ia the north vestry of Holy Trinity Church, Gosport,
some Adverse factors are the timber workers' strike, the clos ing of the northern coal mines,, and the low prices ruling for wool and wheat. Stocks are being lightened and importa reduced, and thrift is more general.
Lower industrial costs appear to be necessary to produce a trade
revival,
The production of dried fruits constitutes a record. The butter export season has been extended and good conditions prevail.
SHELL TRANSPORT
· DIVIDEND.
The Chartered Bank of India in form that they received the fol towing telegram on Saturday from their Head Office in Londen:
Shell Transport & Trading Co., Ltd. declared a Dividend at the rate of as/- per share free of in come tax, payable on July 5. Bearer coupon to be presented No. * 54,"
BARRISTER.
Peak Trama (old)... buy.
bio. (new)
.....Sobe nom. Star Ferries ............ $66) bay. Cams Lights, Cam.(13) ast.
Bights... 13.07 să.. Eix Hights $13 com
Do.
D
Bights
H.K. nectrica
$57% sol. Macao Electrics .........$25) nem.
"IF YOU MAKE A SOUND!" Bandakan Lights 2 sel
Telephones connect $7 nom. China Buses and mo. 278: 144 buy.
pore Tractions.....11/6 nom.
Singapore (Fr.)......16/6 bay.
J'cis. nom.
A cat burglar, held up Mr. Herbert Samvels a barrister, in the bedroom of his house in Earl's China Court-square and escaped down the Malabon Bagare. 127 bay, drainpipe with £500 worth of
Csalon Ites .................... “$1.80 buy m jewellery.
Cemerla ■ (connined).......18.1ft boy,8.30 ul. Do, (old)....$7.
(Le)8144 nom.
Mrs. Samuels said that her hus band went up to bed, at about 8.15 directly after dinner.
"His surprised the burglar in the act af taking away all the jewellery They were preparing to lay a con that was then in my case," she said. erete base, and on removing some" The can put his hand in hia floor boards they found a slab, the pocket we do not know if he ac- existence of which was apparently tually had a revolver-and, making unknown. A portion of the slab be a threatening gesture, said, 'If you came chipped and there appeared a make a sound?” hole through which smoke gradual- 1 oozed. The bole was enlarged, and more smoke came forth accom panied by the smell of smouldering
wood.
Do,
ki
H.K. Boper United Asbestos 1.85 buy.. Dairy Farma.......$191⁄2 day. Watsons Der & Wings Lane Crawford........ Mackintosh.......... Biacere.
80 cts, ony.
82 sel.
818
bey.
130 el.
Wm. Powells H.K. Amusements My husband, who was unarmed,
H.K. Constructions 1 buy. backed to the wall, and the burglar B'que. Ladus, G. Bonds...67% boy. escaped through the window and.k, Gort Load.% prein, bay. down the drain pipe with my tray-bay; sel-sellers; sales jewellery.
"We at once telephoned the
An electric bulb was then put police, and gave as good a descrip- down the hole, and a coffin lying tion of the man as possible. The
in the vault was revealed,
The fire brigade was summoned gase with which he descended the but the coffin suddenly barst int pipe indicated that he was an ex- flames and the sides collapsed.perienced cat burglar." Chemical fire extinguishers were weed to put out the flames. What was left of the coffin was examined. It had been ornately fitted, and the breast-plate bore the date 1830 The coffin was apparently in a good state of preservation until air reach ed it.
The vault was rescaled."
Firemen of the Hendon and Willesden brigades were engaged for nearly two hours in ighting an outbreak at the works of Messrs. Carolec, Limited, cellulose coach painters. The main building was extensively damaged at one end.
-nom-nomia!
ON SALE.
KONG HANSARD RE
HPORTS of the MEETINGS
of the LEGISLATIVE COUNCIL for the Session 1928,
REVISED BY MrMaena.
PRICE
HONG KONG DAILY PRESE OFFICE
By Special Appointment
to
H.M. King George V.
KRAKNYA CUVÉE
OMAN FAGNE
Say
BAUT
The Connoisseur's First Choice's PERRIER
JOUET
This excellent..
Champagne
is now obtainable in Hong Kong in three sizes,
QUARTS PINTS BABY..
$7.00 per bottle $3.70 }}
$2.00
A baby Perrier Jouet and Guinness is
The Ideal Tonic and
Pick-me-up..
Sole Agents:
T. B, GRIFFITH, .Ltd.
6, Queen's Rd. Cl
Tel.0.3517.
[4.7.2
STAR
THEATRE,
TO-NIGHT
At 9.15 p.m.
W. R. BANVARD
PRESENTS
THE ENGLISH COMEDY Co.
IN
THARK
From The Aldwych Theatre, London. TO-MORROW
DIVERSON
FINAL PERFORMANCE Booking at MOUTRIE'S and STAR. Prices: $3, 82 & 81:
For the THROAT the BRONCHIAL TUBES
and the LUNGS
VALDA
PASTILLES
are excellent..
On Bale at all Chemists' & Druggists
· INSIST on the boxes bearing
the name VALDA,
SOLE AGENTIS 2.
L. RONDON & CO., LTD,
SHANGHAI.