י
Money and Markets
HONG KONG MARKET
REPORTS.
CANTON · TRADE NOTES,
During the last four days, over 308,000 Kwangtung 20-cent coins and
THE HONG KONG DAILY PRESS, SATURDAY, JUNE 22, 1929.
Yesterday's quotations for "rice 11.000 big dollars were imported
other foodstuffs
and follow:-
"Rico.
Common White Broken, Common ... Granulated, Common Glutinous, Red Sea! Glutinous Broken Glutinous, 'Granulated
Long Englutinous
Cargo Rice Bran Granulated Cargo Rice
Miscellaneous,
were
Par
from
Hong Kong
"}
New Kwangtung 20-cent silver coins minted this year have been Picul. more popular than the old ones na 87.32-3.06 they are easily distinguishable from 3.80-8.32 counterfeit coins. Their value is ahout one per cent. higher than 5.82-5.04 that of old ones.
7.47
3.63
8.94
»
According to Shanghai tele gram, the cotton yarn market in Shanghai on Thursday was firm and 691-7.08 prices steady as both stocks and 2.42 demand were small There has been however much activity in the Canton cotton ya market and prices have improved as stocks and arrivals are short and demand
4.74
Coarse Granulated Sugar 88.38-7.28 Soy Bean......................isi White Bean
Dried Persimmon
Canned Seal's Mest
Bear's Paw (each pair)
Dried Cuttle Fish, Shan-
tung
Shun
.......
Lotus Seeds
Black Date
Dried Mushroom; Heung
EXCHANGE RATES.
1.00 7.00 15.00 50.00 A.30
44.00
135.00
[BRITION WIRELESS SERVICE.]
healthy, Deniand by the country districts especially Pakho are big, Over eight thousand.bags of Chi nese fertilizer were recently import ed from Shanghai - as demand is considerable. Chinese fertilizer has taken, place of foreiga fertiliser in some country districts where the 20.00 farmers found that foreign terti 15.00lizes are unsuitable for the soil Foreiga fertilizer is, however, popu- Jar in
some districts. Chinese fartilizer is generally manufactured from bean and groundout refuse.
In compliance with the instruc- tions of the Wuchow suthorities,
Rrday, June 21.
Paris
124
Geneva
23.19
Berlin...
90.33
Oslo
16.10
183
375
Helsingfors
Athens
Buenos Aires
Hong Kong New York Amsterdam Stockholm
Vienna
Madrid
Bucharest
Bombay Yokchame
Lisbon
47 1/18 1/11
4.84. 27/32 12.073
18.003
34.51
RUBBER.
BIG CONSUMPTION IN AMERICA.
THE HK. IRON MINING CO., LTD.
TO BE VOLUNTARILY WOUND UP.
Messrs. Penetreath & Co. have kindly forwarded us the following letter dated May 29, from Mesars. Hornby, Hemelryk & Co. of Liver IRON ORE BUT NO COAL FOR pool:-
1-
The market has been quieter dur ing the past week, and prices show decline of about Id. per lb. as compared with those ruling a week nga Spot and June closing last night 10ld, July/September 10d. October/December 11d, Janu- ary/March 11id, January/Decem her 1030 1jā.
A fair amount of American sell
the
ing has been in evidence on London market, and this, together with the apathetic attitude due to the approach of the General Elec tion, has been responsible for the decline, ou,
BO far as we can
gather, there is no change in the to warrant statistical position such a fall.
Consumption in America is said to be continuing at a very high rase, and we have heard of no re ported increase in the shipments At the moment. for this month.
therg 15 not much however, evidence of outside interest in the market,
Very little is on offer from the East and only at prices well above the London parity, and we take the view that, at the end of the month, more interest will be evinced in the market, and that there may be quite a sharp covery in prices.
re
Stocks:-London 30,883 tons (de crease of 62 tons), Liverpool 4,865 toas (increase of 449 tons, due, no the General Chamber of Commerce doubt, to the Whitweek holidays
in Lancashire),
has issued a notification to the ellect that Kwangtung 20-cent silver coins are to be legal tender in the Wuchow market in lieu of the Kwangsi silver coins and banknotes which have become greatly depre- ciated. The notification also says that the Chamber will announce the exchange rate daily for the benefit of the money market.
SMELTING.
HONG KONG SHARE`
MARKET.
BENJAMIN AND 'POTTS" WEEKLY SHARE REPORT.
HONG KONG, June 21.
The market in the North is slightly better and the feature of the week has been the demand, for Shanghai Docks and Cottons, but business between the two ports is restricted owing to the high rate of exchange ruling at present, viz 82.
Our market remains in the same dull and inactive state which has prevailed for the past few weeks with only a small volume of busi- At an extraordinary meeting folness passing and prices mostly in lowing the 2nd ordinary general favour of buyers. meeting of the Hong Kong Iron Mining Co., Ltd., held yesterday at the offices of Messrs. Jardine, Matheson & Co., the Chairman (the Hon, Mr. B. D. F. Beith) proposed that "The Company be wound-up voluntarily." The Company, he said, had not been able to obtain coal at sufficiently low prices to enable them to smelt the iron from their mines at marketable prices. Further the Hong Kong Govern- ment had notified them that unless some actual work was done it was doubtful if the licences would be renewed.
Supporting the Chairman were: Mears A. H. Compton, H. H. H. restley (Directors), and LS Greenhill (Secretary).
CHAIRMAN'S SPEECH. The Chairman (the Hon. Mr. B. D. F. Beith) addressed the meet: ing as follows:-The accounts call for no comment, as they are prac tically identical with those of the previous year. I shall be going into the position of the Company more fully at the meeting to be held after this.
The report and accounts were adopted on the proposal of the Chairman, seconded by Mr. R. E Coxon, and there being no other business the extraordinary general meeting was proceeded with.
EXTRAORDINARY GENERAL
MEETING.
Our New York correspondents cabled that manufacturing activi ties continue unabated. Unsettled
The Chairman said:-The position stock and commodity markets are largely responsible for the cari- of the Company being such as it is, your Directors have decided to nesa, but better news regarding re-
recommend that it go into voluntary parations has steadied the tone.
We hear that the Ford, Hudson liquidation, and it is to obtain your are approval of this proposal that this and Packard companies Practically, no Kailan coal has operating at capacity. The Gen-meeting has been called.
The Company was originally form been imported recently owing to era! Motors have slightly curtail- the still unsettled strike of the ed production, and two cther leaded with the idea of working the iron ore deposits at Ma On Shan in the 34.051 workers at the Kailan mines. Asing automobile manufacturers are
New Territories. The ore may be 817
result, large quantities of Japanese working at 40 per cent, curtail- 1/5 15/16 and other foreign coal have been ment. Sales of automobiles in there, but we have not been able to obtain coal at aufficiently low 1/0 20/32 imported. Kailan coal mines are America are only fair owing to the 34.93 most famous in China and during recent bad weather and to the prices to enable us to smelt it at the anti-Japanese Boycott their sup financial situation. June consump-marketable rates or to dispose of it plies were in big demand and took tion is expected to total 43,000 in other ways. Various schemes the place of Japanese coal. Though tons. Large factories are drawing have been proposed to bring in a Japanese coal was imported in on reserve stocks, thus reducing reasonable return, but all have come
to nothing. large quantities as #000 as the the visible supplies" boycott was lifted, Kailan coal was still supplying several thousand tons monthly until the strike started.
18.20
Brussels
Milan
92.63
Copenhagen
Prague
163)
108
Rio
53
Shanghai
2/42
Silver (spot)
24 7/18
Silver (forward)
24 7/18
Close New York last night: July 21.10c, September 21.00c, De- ecmber 200c, March 22.800.
PRE-EMINENT IN EVERY COUNTRY OF THE WORLD
Beware of deve
OBSERVE THE
LONG STRANDS.
of finest golden Virginia tobacco, used exclusively for 555 Cigarettes, and the freedom from all dele-
terious matter.
STATE EXPRESS
VIRGINIA
CIGARETTES
555
Made by hand - One at a time
MADE IN LONDON BY ARDATH TOBACCO CO. LTD:
Renewal of Licence Hefied.
The running expenses of the Com- pany were reduced to a minimum and one expedient in 1994 was to surrender the Crown Lease (for which $2,560 were paid annually) in exchange for mining licences cost ing $500 per annum. These licences, however, are only granted for two years and thereafter have to be re- newed by special permission of the Government annually.
In May, 1928, the Hong Kong Government notified us that unless some actual work (or prospect of it), was shown it was doubtful if the licences would be renewed. The finances of the Company did. not allow of our carrying out any fur- ther development ourselves and we were unable to come to any other arrangement with other parties, with the result that our application for a renewal of our licence for this year was refused.
You will, therefore, no doubt agree that it would serve no useful purpose to continue keeping the Company in existance and your Directors, therefore, decided to call this meeting with a view to our. going into voluntary liquidation.
Holders of Fully Paid Shares to Racalve 75 Cents.
It is estimated that the holders of fully paid shares will receive about 75 cents and those holding partly paid shares about 30 cents per share.
I now beg to propose the resolu- tion!
"That the Company be wound up voluntary" The resolution was seconded by the Hon. Mr. W. E. I Shenton and carried unanimously.
A Confirmatory mecting will be held in the same place at 12.30 p.m. on July 12
Those Present;
The following shareholders were present: The Hon. Mr: W. E. 1. Shenton, Messrs. R. E. Coxon, R. Sutherland, P. Tod, A. Piercy, R. E. Macdongall, and H. A. Rodgers
Macao Electricnam.. Sandakan Lights... 591 Bol. Telephones.....
Fla. 147 buy Bingapore Tractions. 11/- E
(Pre)......19/- nom.
China Busre
Da
nom.
Chira Bag....Bots. buy. Malabon BugarE Canton Icon ********** $7.96 buy.
buy Cementa (com} bined)
Do. (old)
rel. Doi (new) $1.40 1 om.
.87 vol. United Asbestos... buy, Dairy Farms
13 nom. Watsona Der A Wings
80 cts. buz. Lane Crawfords. Mackintoshs........ Відостей нар
Wm. Fewels ...
HLK. Amusemente
$16 bey.
Banks-Hong Kong and Shang- hai Banks have been rather quiet and are obtainable at the close at $1,210, The London quotation is unchanged..
Marine & Fire Insurances,———— Unions fell away at the outset to $320, but have since "strengthened and were placed up to $325. Can- tons have further receded to 8640.
China Fires continue in request at
8300. Hong Kong Fires are idle round $773.
Shipping. Preferred Indos are wanted at 845 ex the dividend of 12/- just paid. Steamboats are on
Waterboats offer at 8255.
Are
on offer at 825 Waterboats are alightly casier with no buyers over 891. Douglas Steamships are un- changed.
Docks, Wharves & Godowns.--- Hong Kong and Kowloon Wharves after weakness close a little firmer-
with enquires at $195. Whampoa Docks have lapsed to a nominal China Pro- quotation of 835. vidents were realised at 84.05. Shanghai Docks have had a sharp TIL. 135. advance to
New En- Rineerings continue in demand at Tls.5.85.
Lands, Hotels & Building Hong Kong and Shanghai Hotels continue weak with sales made down to 88), Hong Kong Lands Estates are saleable at 8131. have eased off to $81. Humphreys Realty's have buyers at 87.00 and mark a rise.
Public Utilities-Hong Kong Electrics have declined with sales made down to 855 and 8581 clos ing with buyers at the latter rate. China Lights (Cum Rights) were dealt in to a fair exten: at $13.90. Hong Kong Trams were done at #18.40 early in the week, but have since hardened and can be placed at 818.80. Telephones are wanted at 37. Star Ferries are to be had at 885)
Island
Miscellaneous. - Green Cements (Corabiaed) after having further receded to 87.80 are in re- guest at $8. Dairy Farms chang- ed hands at 819. Hong Kong Amusements are wanted at 829) and probably a little more would be paid. China Sugars can be bought at 60 cents. Hong Kong Government Loan can be placed at 7 per cent. premium after trans- actions at this rate.
Cotton Mills.-An improvement is to be rted in Ewos which clas- Tla 12.90.
WHEN FOOD DISAGREES
How to get quick relief from Indigestion.
BISURATED NA
If pain, wind or distress follow tating or drinking, simply take the Bisurated Magnesia „în a quarter of a gluai of Water and the kuose, of the trouble will Bà ramävad at once, together with all the paint Thousands may this has given relief when all else failety hospitala. se this cure and doctors prescribe it. Digive troubles get worse quickly and they never curs themselves; those who suffer in this way should. not, therefore, delay taking the help' which only Bisarated' Magnesis can give. It cpsis bat file and never fails to give relief. "Whea boying, look for the ors! 'Bismag' trade-mark, on the wrapper.
BISURATED
MAGNESIA
QUICKLY STOPS INDIGESTION
REPULSE BAY HOTEL.
SPECIAL ATTRACTION BO DIDDLY, Comedian and Dancer,
STAR or JACK CARTER'S SERENADERS, will give a Special Entertainment during DINNER DANSANT
to the accompaniment of Repulse Bay Hotel Orchestra on SATURDAY. June 22nd, 1929. MONDAY, June 24th, 1929.
and also
during TEA DANSANT
on SUNDAY AFTERNOON, 23rd inst. SATURDAY & MONDAY—$4.00 per head including Dinnër,
SUNDAY AFTERNOON-$1.00 per head including Tea Please reserve your Tables carly. Telephone C. 776. THE HONGKONG & SHANGHAI HOTELS, LTD.
THE NAVY'S CHOICE
oates'
ORIGINAL
PLYMOUTH GIN
OBTAINABLE EVERYWHERE.
ed with buyers" at DODWELL & CO., LTD.
Orientals are a shade firmer at Tis.21. Shanghai Cottons have also stiffened and are wanted at Tls, 704.
од
Exchange-The "T.T. rate London today is 1/1 and on Shanghai 821.
Forward Settlement Days June 95, July 30 and August 27,
1929.
HONG KONG STOCK EXCHANGE.
CLOSING QUOTATIONS.
+1 JUNE 21, 1929. H.K. Banks
$1,200 sam. Do. Londen...21324 nom. Chartered Bank. ......$199 bay.. Mercantils Banks, A. &B...£3 nom.
Do.,
0...215) nom.
P. & O. Banks ...... . nom. East Asia Bank .........$80) nom, Clanton Insurances.......... $540 wal Union Insurances. $304 sel., 323/34 # North Chins In
Ti 160 bay. M. $30 nom Yangtze Insurance...... Oking Underwriters ......$2.10 seli Chion Fire Insurancen.. 2300 buy. Dangles................27 now. E.K. Fire Ins. ́********#70 Kam
HK. Steamboat.... $25† sal. HK. Tag: níu $2.60 kl. Lado-Chinse (Fret).45 buy, ex div. Do (Def.)$70.nom." Chill Transports, 100% noth Union Benguet
angkata (combined)....... 14 iul. Kailan Mining Admin 65/-nom."
Do. (angio) Tri
„Tai, 78 unl 8'hai. Explorations "****** Bhanghai Loans Tin, by wil. Baubs
881 nom.
Waterboats...
nom.
пош.
bay
Tronoh Mine H.K. &K. Whads3124 buy,
& W: Docks 35 203. China Providents............ $4.10 al Hongkow T. 185 no. ******** TL. 8,25 boy. New Engineerings van
Shanghai Docks ....Tiz.
****T. 1801 bay. Ewo Cotions...... *******The 12.85 buy. Oriental Gottons... TI, 220 bay. B'hai: Cottons (old) .... .......Tls. 704 bra...
Do. (new) Tis, 33 bus. H.K. & H. Hotele
Landa
Shanghai Lands
Th. 142 buy Humphreys Estator $181 bay. HLX. Reac
Best Tom (old) H.K. TravBYA ( 18.60 buy. Peak
Ba
(LOW)...
$11,80
DOAR
885 boy: 66 el.
$13f not,
China Lights, Op. Rights:
$13 buy
$291 buy.
Star Fartica
ILK. Uinstructions .......
B.E. Govt, Loánɛ it?
buy.
bay
Do.Hights A $790 nm. F.K. Electrics 1662 buy, 554 vel. [Continued on Previous Column)
NEW
YORK BERTH.
FOR NEW YORK & BOSTON via SUEZ
M.Y. "MUNOASTER CASTLE" "..... Bails on/or about 10th Julỹ
LLOYD TRIESTINO.
REGULAR MONTHLY PASSENGER AND FREIGHT SERVICE for BRINDISI, VENICE AND TRIESTE (FIUME). TAKING CARGO ON THROUGH BILLS OF LADING TO GENOA, ALL ITALIAN, ADRIATIO, ŽEVANT, BLACK BEA AND DANUBE PORTS.
REDUCED PASSAGE RATES, BRINDISI, VENICE & TRIESTE LONDON
£72. £80.
NEXT SAILINGS. OUTWARDS FOR SHANGHAI, YOKOHAMA. KOBE AND MOJI.
8.8. "TIMAVO"
M.V. "HIMALAJA "
M.V." VIMINALE'
From Hong Kong, Saile hencé, en/or about 25th June Baile hence on/or about. 9th July Baile hence on/or about 18th July
BOMEWARDS FOR BRINDISI, VENICE AND TRIESTE
14
SS “VENEZIA". 8.8. NIFFON 8.8. "TIMAYO'
From Hong Kong, Sails on/or about 30th June" Fails on/or about 13th July.
Sails on/or about 23rd July
NATAL LINE OF STEAMERS
́FROM CALCUTTA & COLOMBO TO SUUTH AFRICAN PORTS
8.8, UMZUMBI"
Bails from Calcutta 3rd Ang. Regular Passenger and. Cargo Barvise to South African Porta. Through Bills of Lading famed from Hong Kong. For Freight or Fasingh dh day có the above Lines, apply to:-
DODWELL & CO., LI
aganti.
·falopó÷óa: Central 1330,