.J
Money and Markets
HONG KONG MARKET REPORTS.
Yesterday's quotations for rice and other foodstuffs were as follow:
Rice.
Common White ......... Broken, Blue Seal ..... Granulated!..
Long Unglutinous,
Sheung Kay
Cargo Rice Bran ......... Glutinous, Red Seal..
"Glutinous Broken, Red
Seal
Miscellaneous.
Coarse Granulated
SUGAR.
MARKETS WEAK.
Messrs. Penetreath & Co. have kindly forwarded us the following Per picul. letter dated May 31, from Messrs. $7.18-8.04 Hornby, Hemelryk & Co. of Liver
6.48 5.41-6.02 pool:-
F
.
Since our last report of a fort- 7.48 night ago, prices have continued
2.50 7.57
6.89
190.80
35.00 80.00 62.00
Sugar
Edible Nest
8 6.33-7.30 Selected Bird's White.
1,250-3,550
Nutmeg
Dried Lily
Flower,
Lincbow
Wax. Yunnan
White Lotus Seeds .......
Dried Yellow Fungus,
Taikee
Soy Bean
Scarlet Bean
Fishmaw
Dried Mushroom, Heung
Shun ....
White Sesame
THE HONG KONG DAILY PRESS, MONDAY, JUNE 24, 1929.
INSTITUTE OF CHARTERED
ACCOUNTANTS.
INCREASE IN, MEMBERSHIP,
The Forty-eighth Annual Meet- ing of the Institute of Chartered Accountants in" England and Wales was recently held at the Institute, Moorgate-place, E.C.
Sir Nicholas E. Waterhouse,
K.B.E (the president), said that during the year there had been an
increase of 385 in the number of their members, and, if they took final examination their present into account the results of the last to aag in London and more sa in New York, and, on balance, Lontoial was more than 5,500. During don values are about 3d lower.
Renewed weakness in Wall Street the year no fewer than 834 articled has not helped the sugar market, clerks had been registered, as com- and the decline has been accentuat pared with 799 in the previous ed by the further uncovering of stoploss, orders.
years, and it looked as if in a very few years their membership would reach the five-figure mark. With the ever-inerasing demand, however, for fully qualified men, not only as assistants in the 'offices of practising accountants, but also to hold responsible positions in so many branches of commercial and financial activity at home and abroad, he did not share the view that he had. sometimes heard ex- pressed lately that their profession was beginning to get overcrowded.
The new Tariff Bill'in America has passed the House of Repre sentatives and has gone forward for ratification by the Senate. Should the Senate pass the bill, prices would, no doubt, be favour bly affected? On the other hand, r2.00 rejection or shelving of the mea
sure would probably cause further 6.20
weakness. 8.20
The latest Cuban production 300.00
figure to hand is 5.110,000 tons, with eight centrals still grinding 125.00
Continental weather reports are 16.30
fairly favourable, although, gener- ally speaking, more rains would be
CANTON TRADE NOTES.
The flour market is slack as both foreign and Shanghai flour have ar rived in, large quantities. Retail and wholesales baying is limited.
The foreign sugar market has improved as supplies are lower. Prices both Hong Kong and Kwang tang are firm and plenty of inquiries are being made.
*
Many orders have been received from Hong Kong for wolfram re- rently and the market has been fair: ly active. Over a thousand bags of wolfram have been sent to Hong Kong lately.
The pounce and gauze industry has been dull this year and prices have fallen by about two dollars per piece. This is chiefly attribut ed to the competition of artificial fines which have been imported in large quantities and are popular on account of cheaper prices. Another cause is that no goods have been exported to the war area during the inter-Kwang war.
•
In view of the steadily rising value of the Central Bank of China notes, money changers and mer- chants are holding" the notes; At present, they stand at about eighty- five cents to the silver dollar and there is every probability of a for ther rise soon in the value. In Fat- shan and Kongmoon, the notes are quoted at nearly ninety per cent, of their nominal value.
+
The present silk crop is less satis. factory than the last as many silk worms perished in the rainy wea "ther. In addition this price of silk has been unusually low during the last two months, and the silk fin- tures in Namboi and "Shuntak dis- tricts have made no profits. In Canton, on Friday last, over a hun- dred bales of raw silk were sold at low prices.
welcome again soon.
The Java market is reported to he steady and idle. As the Java outturn this year is likely to show an increase over last year, this may shortly influence the attitude of the Trust, who have, so far, di- posed of only about 1,000,000 tons During the last few days, there has been a decided Inck of selling pressure in the London market, and every ad decline has been con- tested with more severity than hitherto. As far as Londen is con- cerned, the technical position would seem at the moment to be rather oversold.
We cannot yet see where & sustained rise is to come from. Some fresh factor is required, and
we are inclined to advise caution.
Close London (Raw Beet) August 78/81d: 16th inst. 78/11id, December 88/0ld, 18th inst. 88/4ld, March Sa/31d, 16th instant 88/8id,
Forthcoming Events.
CANTON RAW, SIEK MARKET.
HONG KONG STOCK
EXCHANGE.
REPORT FOR WEEK ENDING JUNE 15.
A reaction set in during the past week resulting in a rise in prices of 2 per cent. to 3 per cent.
Reports are to hand that prices in Japan have advanced. At the
said to be firmer, which has in- same time cocoon prices bere are
duced holders to hold out for bet. ter prices.
"
There is a fair demand from Americe, but at the old prices.
Quotation
$980 for 1/16 N.S. Crack
Спора
er
8860 for 20/29 N. 8. Ex Ex A. 930 for 13/15 0.8. Best I.
CHILE'S NITRATE AND
COPPER...
RECENT PRODUCTION.
Exports of nitrate from Chile during April were 2,812,000 quin- tals. Nitrate production during January-February was 330,088 tons
CLOSING QUOTATIONS.
H.K, Ba
Du Chartered Banks
JUNE 21, 19.9.
London...ią num.
......$19 buy. Mercantile Banks, A. EH...£ nom.
Do
O...£1b nom, P. & D. Banks
a East Asia Baaki.4904 nom. Uantco Insurances.
$84) vel. $3.4 mi.
160 160 uny.
....
Union LöguraMOVE North China II. ..... Tangtare insurance....... 30 nom. China Underwriters.......X.10 æel. China. Hire Luannoes...
cuz. E.K. Fire in ********
bom. Douglas.....................$27) 200,
H.K. Teg. $2.00 Bol. Indo-Quinas (Prod.) w.....143 buy,
Da (Det.) .$70 com. Shell Transporta...
..100/- nom. · Union Waterbosta.........23 nom.
$3 om. Banguste....... Kaian Mining Aamir .....tó. nom. Langkat (combined)...... The 14 sel.
Don
... TIR. 7jou!.. (single) S'ha Explorations..... The 24 Shanghai Loan. 324. j
Jei num. Tronoh
...... 9 bay. HAK. & K. What ......Bisé buy.
$35 BAT K. & W. Desks China Providest........... $15.90
Irena Tis. 168 nom. Hongk
Tha.bay. 71 194 bay.
Now Engineerings Shangha Jocks...... Ewo Lotton ... ... The li.Bộ hay.
as compared with 479,419 ions for | Unental Cotteus................ Tia, 1.20 buy.
TH · 704 buy,, 71 m. Do. ()... T. 33 bay, the same period last year, Ex-'au. Uotton (old)... ports of nitrate, January-February H.K. & 8. Hotel $8.45 ba, 8.55. were 706,718 tons as compared with HK, Landı ...........45% sel. 392,051 tons for the same period of haughs Lands
Humphreys staten................ buy, HK. Healties......... 874 buy.. E.K. Tramways...$18.60 buy, 18,50 cl. Peak Trams (old) $11.80 nom
1998.
Refined copper production for these same months was 52,525 tons for 1929 and 38,910 for 1926,
The 15th autumnal meeting was held in Birmingham last October, and was very successful. Perhaps never before had their proceedings at the annual meetings received such widespread notice in the Press. The International Ac. SEARCH FOR OIL IN NEW | E.K. Mectrics ..........." #601 buy,
countanta Congress, to be held in New York during September, pro-, mised to be the largest account- uncy convention
ever promoted.
No fewer than 2,000 accountants were expected to be present, and delegates were invited from all re presentative bodies in all parts of the world. The institute was most its
Close London (White);—August fortunate 10s/old, 18th instant 10%/3fd.
Our New York correspondents cable that it is reported that the Senate will probably delay tarifi nction until the Autumn. Although hot weather is being experienced in the United States, which is stimulating sales, the refined trade is well covered, and some are offer ing to re-sell. Stocks of Raws continue heavy.
July 1.71c, 18th inst. 1.8. September 1.81c, 16th inst. 1.880. December 1.87c. 18th inst. 1.942. January 1.88c, 16th inst, 1,950.
GOLD MINING. --
CANADIAN DEVELOPMENTS.
["D.P. Special Service.]
Montreal, Que. The directors of the Hollinger Gold Mines, Ltd., are prepared to build a concentra- tor and resume active operations ut the Kamiscotia properties of
a favour the company, provided able decision is reached by the Ontario government in regard to the extension of the Timiskaming and Northern Ontario Railway through that district, the presi- dent, N. A. Timmins stated in his remarks to the shareholders, issued recently with the annual report of the company,
Since Wuchow fell into the hands of the Nanking forces, the value of the Kwangsi banknotes has fallen so low that they are now prac- tically worthless. Their deprecia- tion has caused merchants in Wu- Mr. Timmins said that the mat- chow considerable loss as all of ter of the extension had been taken them held certain amount of these up with the Ontario government banknotes for ordinary business und was under consideration. He purposes. This is the chick cause believed that the building of the why the normally busy trade done railway extension would not only by Wuchow with Canton, Hong serve a promising news area, but
value prove of Kong and other places is almost at should
E standstill. No goods except food-colonization road.
stus and other daily necessities
B IL
Your directors look for a
in
ILA
having delegates Sir William Plender, Sir Woodburn Kirby, Mr. Cash, and Mr. Colville,
GUINEA.
ANGLO-PERSIAN COMPANY
INTERESTED.
Captain R. A. Hanlin, who re turned to Sydney by the Montoro recently, has been for 17 months in sole charge of an Australian oil prospecting company's operations at Marienburg, on the Sepik River, in the mandated territory of New
Guinea.
Another great event of more
There is no doubt about oil significance to themselves than the existing in the district," said "The only American Congress, which would Captain Haslin. take place during his successor's problem remaining to us is to find year of office, was the 50th an-suitable geological stracture to niversary of the incorporation of hold a large quantity of oil. The their institute by Royal Charter. Anglo-Persian Company has al- It was intended that that anniver-ready shown its interest. "One of sary should be celebrated in a their experts and two of their sar- manner worthy of the occasion, veyors are already at work, and and they must congratulate them their final reports will be available acives that Sir William Plender in a month's time. had consented to fill the position The indications of oil in large of president for the year 1929-30. quantities, continued Captain With regard to the accounts. the Hanlin, are already "so hopeful excess of income over expenditure that already the question of how for the year amounted to £7,330, the Eitape field is to be controlled La against £5,300 in the previous has been raised. If, he asserted, year, which might chiefly be at the directors of the Anglo-Persian tributed to the increase in fees Company will give the Common received owing to the general ex-wealth Government assurances that pansion of their membership. they will develop the oil-ields, Turning to the balance-sheet, it then there will be no possibility of would be seen that their accumu. conflict with minor Australian lated fund now stood at £186,202, companies. If, however, oil is dis- but it must be borne in mind that on covered in large quantities, and the other side of the accounts their the Anglo-Persian Company simply investments stood at cost and were seeks control in order to hold such still some £12.500-in excess of their supplies in reserve, market values, as compared with Australian companies will have to act as is considered best for the about £13,300 in the previous year.
interests of Australians.
LAND URGED.
then the
are being imported and it wil take favourable decision," Mr. Timmins the institute at the general meet Woolnough; "assisted by Federal!
long time to restore normn. busi- stated. ness conditions at the treaty ports
EXCHANGE RATES.
(ERITISH WIRELESS SERVICE]
RUGBY, June 23,
Paria
Brussels
Genera
124 34.925 05.195
Berlin
20.33
Copenhagen
19.235
Vienna
34.50
Helsingfors
193
1081
817.
1/4
47 8/32
Lisbon
Bucharest Buenos Aires Shanghai
Yokohama
New York
Amsterdam .......
Milan
****
Stockholm
Orlo
Prague
Athens
Madrid
Rombayne
Hong Kong Silver (spot) Silver (forward).
$1,500,000 MILL EXTEN- SION.
NEW PLANT NEARING COMPLETION.
· Toronto,
ن.
["D.P." Special Service.]
Ont. The expansion programme of Hinde and Dauche Paper Co., which includes the erection of a new mill of brick and steel construction, five storeys high, will be completed by the end
buy.
Ba. (now).......86.05 nom. Star Furries... $65 buy,, tổ › el Ühi Laght, Cum. Rights...is sel
Do. Er high...12,90 sel Do. Kights $7.90 40z.
Macao Electrion .........1264 RAM. Bandakan Lights Taisputes
37 bay. China Buses 16, 14 Bingapore Tractions......11/- el.
Do. (Pre)......19/- nu, China
............80 cta. buy. Biogra Malabon Zugars sa......$27 nom. Canton Icas...........12 bay. Damenta (combined). $ buy.,6.05). 10 sm
Du. (old):37) #el.
(Dew)....51.30 am. H.K. Espes
......$5 bay. United Asbestos Dairy Farm Der & Wings
Proposed Supplemental Charter.
In last year's report reference INVESTIGATION IN GIPPS. was made to the proposed supple- mental charter, and it was then
In u report presented to the mentioned that some objections had
Minister for Home Affairs (Mr. been raised by certain Dominions, and that it had not yet been found Abbott), the geological adviser to Commonwealth (Dr. Wool- desirable to submit to the Privy the Council the petition for the grant-nough) expresses the opinion that ing of the draft supplemental the question of oil occurrence, in charter passed by the members of Gippsland calls for investigation. Private enterprise," says Dr. ing in 1997. The position to-day was yery much the same as it had and State Governments, has here it been a year ago, and the council legitimate field for sane and were still in correspondence with cautious operation, but it cannot the Dominions concerned as to be too strongly insisted that, while those clauses to which objections there is room for reasonable hope- had been raised.
fulness as to the ultimate result, As things were at present, it deep drilling for oil production is would not be in the interests of premature. Ill-advised and mis- the institute to take further stops directed blind stabbing is to be in obtaining the Royal Assent, and deprecated. Scout drilling with a indeed to do so until their over-core making plant, controlled and seas friends were quite satisfied as to their intentions might serious prejudice the position of their members who were practising in those Dominions. He could assure them that the matter was having the most careful attention of the council, and that, if ultimately it
confirmed by expert palaeontolo- gical research, is not only the most economical and satisfactory method which can be applied to much of the vast area involved. In parts of the area modern geophysical methods may yield results capable of definite interpretation, but for rest the core drill and the the recently. The extension to the of the supplemental charterede near Lakes Entrance, and they microscope are strongly advocated. Certain enthusiasts have drill- 1/0 29/32 Toronta, plant involves an out would immediately be consulted.
During his year of office it had obtained a slight but decided show- 4.84 27/32lay of approximately $1,500,000, 12.00%
and will include the installation been his privilege and pleasure to ing of oil and gas from rocks of
of the provincial the tertiary age. of additional equipment which will visit many
Oil, ga, and, 82.85 18.09
give it a daily capacity of 160 tons. societies,, and he had thus had the unfortunately, water, were 18.105
Mr. O. H. Moore, managing opportunity of learning something counted just above the granite bed' director announced that as soon as of their good work and of being rock. Two other bores have been the building operations in Toronto brought into touch with very many sunk under the supervision of the and, Montreal have been finished, members of the institute through- Victorian Mines Department, and it in the intention of the company out the country. He had also been in each case water and a little oil 1/2 13/16/20-tall-plus stampeg-end the guest at the donut bagustine 1/113 Vancouver to provide for the Paris of the English-speaking ac- 24
rapidly growing business in West- countants on the Continent. 24 7/16 ern Canada.
of June, according to a progress would appear desirable to make announcement made public here any modifications in the provisions
1634
24.236 378
The report was adopted.
Buck
Un-
curences of oil in small amounts cannot be permitted to stand with out complete investigation."
Do.
Watsons
#18 nom. $19 nom 80 cla, buy. 812 sel.
W
Lane Crawforde.. Mackintosh. Sincero
$18 bay.
Powell
53 al. 1201 buy,
K. Amusement... H.K. Constructions sol
'que. Indus Bonds...67% nom. H.K. Gort. Loans.......7% prom buy. buy-buyers; sol-pollera ;; in—amisa ;
nom-uoming!.
COURT MARTIAL.
SPEECHES TO BE MADE TO-MORROW.
POLICE WIRELESS VAN MANHUNT.
CAPTURE OF A LETTER THIEF.
All the evidence in connection. with the charges of negligence van was used to track a thief was A case in which a police wireless,
while acting as President of the heard at Bow-street Police Court, alias Regimental Institute
Benjamin Arnold, preferred when against Major G., M. Ogilvy, clerk, of Rushton street, Hoxton, Arthur Searles, aged forty-six, n K.O.S.B., at the Court Martial, was sentenced to nine months" which has been sitting in Murray hard labour for stealing and at- Barracks, has been given, and the tempting to steal letters in course of transmission through the Post concluding speeches of Major Office. Armitage, for the prosecution, and Major Miles, for the defence, will be opened at to-morrow's sitting.
TO-DAY'S WIRELESS
PROGRAMME..
BROADCAST BY ZB.W. ON 350 METRES.
1.48 p.m.-Weather report. 5.30 to 6.30 p.m.-Programme of Chinese music. (Records supplied by Messrs. Tin Shou Tong).
748 p.m.-Evening weather re- port. 8
Evening p.m.-.
programme. (Columbia recorda supplied by Messrs. Anderson, Music Co.).
10.30 p.m.-Close down.
It was stated that a week ago flying squad men in a police wire- less van with 'postal officials were engaged in keeping observation on Arnold's movements. The police received a wireless message from one of the postal officials, and in consequence hurried to Whitcomb- street, Haymarket, where they saw Arnold place some newspaper in a letter-box, with the object, it was assumed, of "trapping any let- ters that might be delivered by post.
Arnold, since his arrest for that offence, had been identified as a man who stopped a postman in Gray's. Inn-road, and induced him to hand to him a bundle of Afty or sixty letters all addressed to one firm in that road. The door of the premises was closed at the time, and Arnold" falsely repre- sented to the postman that he was working there.
A wisehead
Anvory Cream lat greasy scalps Anaurs Viola for
dry spa
i
the head that's sleek and smooch all"
A little Anzora în through the day.
the morning is all that's necessary to keep your hair healthy and in good
condition.
ANZORA
Masters the Hain.
Sold by Drug
·gista. Hərźremers, or from
Car Hong Kang grat The Cat Dispensary.
14. Quain's Rond Central, Hong Kowa. Yor Himx & Co.
24. Portingen Street, Hong Kant.
& Co. H. Y. & Strand Wass,
Font
Mamutracturað kyn „Annora“ Perfumery Ca,
Lid. London,
Estland
There are THREE REASONS WHY we have been entrusted with the installation of
CENTRAL HEATING
HOT WATER & SANITARY SYSTEMS
at the following Institutions, etc.-
SCHOOLS
St. Stephen's College Diocesan Boys' School St. Stephen's Hostel St. Stephen's Staff
Quarters
CLUBS
Hongkong Club
Hongkong Cricket Club Hongkong Jockey Club U. 8. Recreation Club Royal H.K. Golf Club
OTHER BUILDINGS
Repulse Bay Hotel Mountain Lodge Pallonjee House, Canton Stubb's Road Garage "Police Station, Sham Shui Po
FIRSTLY.
SECONDLY.
THIRDLY.
HOSPITALS
Victoria Hospital Matilda Hospital Alice Memorial Hospital New Tung Wah Hospital Nursing Home, Canton
Oriental Hotel, Canton Aigburth Hall
South China Morning Post Building Sisters' Quarters Matilda Hospital Branksome Towers
All systems are designed by experts thoroughly acquainted with local conditions and requirements.
All work executed by our own staff, thereby eliminating scamped work caused by sub-letting.
We do not interest ourselves in so called "cheap" jobs, all systems being designed to reduce maintenance charges to an absolute
minimum.
DODWELL & CO., LTD.
Telephone...C1030