MARTELL'S BRANDIES
V. S. O. P.
BOTTLED IN
'COGNAC AND
GUARANTEED
THREE STAR
PORE GRAPE
BRANDY
BT
THE HONG KONG DAILY PRESS, FRIDAY, AUGUST 9, 1929.
Money and Markets
HONG KONG MARKET
REPORTS.
Yesterday's quotations for rice and other food-stuffs were 45 follow-
Rice.
GRAINS.
THE DROUGHT IN AMERICA.
Messrs. Pentreath & Co. have jorwarded us the following latter. dated July, from Messrs. Horaby, Picul. Hemelryk & Co.
Fer
87.41 1
White, Sa Ah White, Hung AB'.......... White. Ching Cherk Luk Roundish rice. Green Seal
V. V. E. S. O. P.
White Bran, Tai Pao Long Unglutinous,
Seal
.00 3.98
Green
MARTELL & CO.
Granulated cargo rice
7.32 4.01
Miscellaneous.
No. 19 coarse granulated.
sugur
86.55
No. 2 coarse granulated
guyar
Brown sugar. Java
Shark's fir, Tai Woo
Nutmeg
Dried Prawn
123.30 .168.00 29.00
Dried Mushroom. Fa Koo ...220.00 Dried Flat Fish, Chung Pin 78.00 Green Flax
Howo Kore.
Cargo, Superior
26.00 9.20
Elack Bean
SOLE AGENTS:-
GANDE, PRICE & CO., LTD.
WINE & SPIRIT MERCHANTS,
ST. GEORGE'S BUILDING, ICE HOTSE STREET,
TEL C. 135.
DAILY SHARE QUOTATIONS.
HONG KONG STOCK
EXCHANGE.
Ballers Sales Nomina
Buyers
SHAREBROKERS' ASSOCIATION.
7.18 8.03
6.70
"During the week under review, the markets have again. becn strong, a further advance having The been registered on balance. principal factors have been the weather in the United States and Canada and heavy buying by United Kingdom and Continental millers
Although some showers have falles in Canada. the country in sill dry. Generat heavy rains are required, and the position is becom- ing serione, but not critical, as yet. Some experts estimate that the crop will be 100,000,000 to 15.000.000 than last year, and Lushels ess owing to continuation of the dry weather, deterioration is taking place daily. There is quite a good trade for old crop.
The United States Spring Wheat op is still in great need of rain. complaints are bring received of poor wields of Winter Wheat. The following estimates of the probable anal yield of Spring and Winter Wheat in the United Stater 73,715 bags of foreign sugar were provide interesting reading:- imported during July.
CANTON TRADE NOTES:
Large consignments of apples and Bellera Sales Naning pears have been arriving from Tier-
tsin.
£33
According to a telegraphic message from Tsingtao, is has been decided by the General Chamber of Com merce there that the tael aystem is no longer to be allowed in business transactions..
I
Snow estimates: Winter Wheat, 612,000,000 bushels Spring Wheat, 208,000,000 bushels,
The situation in Australia is generally satisfactory, but rains are required
more
The Argentine needs more rain, although showers have fallen in the north. A large businees has been done in old crop Wheat.
The visible supply in the United State of:--
READJUSTMENT OF CHINA'S DEBTS. COLLECTION OF DATA FIRST
DECIDED UPON.
Nanking, July 27-The Com- mittee for the Readjustment of Foreign and Domestic Loans held its first meeting under the chair- manship of Mr. T. V. Soong,alinis- | ter of Finance Among those pre- sent at the meeting, were Dr. C. T. Mr. Wang Peh Chun, linister of Wang, Minister of Foreign Affairs, Communications, Dr. H. H. Kung, Minister of Industry, Commerce, and Labour, and Mr, Yi Pei Chi, Minis ter of Interior. As a preliminary step to the formulation of mensgres for the readjustment of the loans, it was decided that authoritative and complete data be first gathered, which are to cover the following
points :-
4.
With regard to domestic loans: (1) the total amount, (2) the different classes of internal bonds" (3) date of issue. (4) rate of interest per annum, (3) the localities where the bonds are fa circulation.
were
B. With regard to foreign loans: (1) Purposes for which the loans contracted. (2) the total amount" (3) date of the loan agree- ments, (4) date of maturity, and (5) rate of interest.
Mr. Yeh Sha Heng, Director of the Public Loans Department of the Ministry of Finance, has been en- trusted by the Committee with the task of collecting the data.
In order to facilitate the work of the committee, Mr. T. V. Soong is considering the appointment of a number of financial experts to assist in devising a comprehensive scheme for the readjustment of ull Govern- munt loans.
EXCHANGE RATES.
[BRITISH WIRELESS SERVICE]
Rugby, August 7.«
Buenos Aires Hong Kong New York Amsterdam Stockholm
THURSDAY,
Виде
AUGUST 8.
Banks
Ca
$1,936
div.
HK..Banks
($1,235
The prices of both foreign and Chinese four have been high. market in however weak.
The
estimates: Winter Cromwell Wheat, 384,000,000 bushele; Spring Wheat, 211,000,000 bushels. Donovan estimates":
Winter Wheat, 200,000,000 bushels; Spring Wheat, 240,000,000 bushels,
Paris
Geneva
$
+
2195
Do. (London)
Chartered Banks...
£19
£191
Mercantile Bks. "A"
Do.
*C"
£16
P. & Q. Banks
These figures are considered bet- Preparations are being made byter than expected. the Kwangi authorities for the, establishment of a provincial indus- trial bank.
Berlin
Aslo
Helsingfors
Athena
890)
Hank of East Asia...
Insurances
#
$830
Canton Ins. *****
8630
$2
Underwriters ...
$1.90
T160 8326
North China weupe
T160
$326
Union Ias.............
8328
850
Yangtaze Ins......|
$60
China Fires
$300
$310
$770
H.. Fires.....
$770
Stipping
$57) Douglaxes
$27
6241
Steamboats
Indos (pret)
$73
Do. (def.)
026 Shell Transports
196/-
$22
Water-bosta azie
8211
Mining
Benquets...
63/0 Kailans
63/5
T.15
Langkate (com.) -]
Do. (single)
Explorations
$3.10
19}
Те
SH
21/-
T. Shanghal Losas
Raubs.....
Tronoh Mines
Docks, WharveS,
Godowns, etc.
**
18/
3128
81181
H.K. & K. Wharts...
$1274
Providents
184.20
84.20 84.30
HLK. Docks
18331
$32)
T.133
Shanghai Docks ...T134
T
T.18
T.87
T.49
!!!!
New Engineerings T7
Ti Hongkews
Cotton Mills"
EWOR
Orientals
T16,25 T16.35)
S'hai C'tons (old).....|Teo
Do (new)... T31
Lands, Hotels and
Buildings
H.K. & S. Hotels...38.35
$8.45
38.35
$59 *C.147
86
H.K. Lands
$50
Shanghai Lands ---
H.K. Ranltys
$9.10
88.15
Humphreys
813.05
$13
$99
Chinese Estates...
Public Utilities
Tramways..............
$80 Peak Trams (old)..
C. Lighte (old)...... 213.40
318)
818.60
26.00
Do.
(new)..
Star Ferries
$54
384
$13.25
8134
Do (new) 813.25
$13.90 856
H.K. Electrics................
828)
3facao do.
Sandakan Lights
89)
$7
Telephones...
Chins Buses................
T.14).
•20j-
11/
Do. (pref.)
$2
$9.20
$7.70
$1.40
$7
Н
319
20.30
J
$1.55
Tractions
Industrials
Canton Ices......... $2.25
***
Cements (comb.)... 26.80 $8.95 $8.90
•Do.
Do
Ropes
China Sugars
(old)... 87.80
(new)... $1
Malabon Sugars
United Asbestos.....
Miscellaneous
Dairy Farms ........ Der A Wings....
Amusements ......... Constructions ...... Lane Crawfords Mackintosha Nanyang Tobacco... Sinceres (old)......cene
Do. (new) ******
$11.90 Watsons
Wm, Powells.********
*9
$12
B. Ind. G. Bonds... H.K. Govt. Loon...$107
$18,80 $11.80
$6
37
1829
g1: ཿ
1819.90 1$0.00
Foreign barley is being imported into Kwangtung and Kwangsi in considerable quantities ria Hong Kong. Recently the arrivals have been short, and as a result, the prices have risen rapidly, the "cur- rent price being about 827.50 per picul.
The price of firewood has drop ped. The current price is from seventy to eighty catties to the dollar, as compared with about fifty catties during the inter-Kwang war, There is likelihood that further. drops will be seen in the rear
future.
The demand for Chinese raw silk abroad has been weak during recent weeks with the result that the prices are on the decline. Over a hundred bales of raw silk were sold on Wednesday the quotations being No. 14/16 at HK.8935 per "pica, No. 30/22 at H.K.8850 and No. 13/13 at HK $920,
*
*
There has been a healthy demand for cotton yarn from merchants of the country districts, and retail sales are large. Stocks..have come exceedingly short, and prices have gone up by four to five dollare per bale. According to telegraphic ad vices from Shanghai, the prices there have also advanced by half a tael per bale.
COPPER OUTLOOK.
WORLD OVER-SUPPLY NOW PREDICTED.
Within the next 10 years in spite of the present shortage, there is likely to be a world surplus of cop- per, agording to Dr. Marvin, Economist of the Royal Bank of Canada,.
Although Canadian production of 200 million pounds of copper in 1928 amounted to only 5 per cent. of the world production in that year," he states, "Authoritative articis on the copper situation. have mentioned the increase in Canadian output as the most im- portant proportionate development during that year. There are now five mines of major importance engaged in active production, and before the end of this year it is probable that several other mines will be turning out large quanti- ties.
"It is considered possible that the output of a single one of these mines will be in excess of 100 mil lion "pounds. Certainly it is safe
to predict that by 1931, or 1832, Canada will be producing a much larger proportion of the world's 1827} supply than at present. One factor which is tending to impede im- $1.06
mediate development of copper pro- perties is the fact that immense supplies will be available from Nor- thern Rhodesia by 1934 or 1935. In spite of the immediate shortage, there is every prospect that there is more likely to be over supply than shortage, in the course of the next ten years."
632
Wheat
Corn Oats
115,500,000 bushele
12,748,000
7,806,000
We have received the following cables from America.
Wheat: Reports indicate that no rains in the Spring Wheat Belt during the next few days would cause serious damage in many sec tions, which, combined with the present situation in Canada, re- duced yields of Winter Wheat and uncertainty in the Argentine, makes Wheat jook cheap at present levels.
123.075
25.72
20.30
18.20
193
872
1/11
4.83 3/321
가
A THRILLING AND FASCINATING ROMANCE OF JAVA !
ו'
John Colton,
author
of
"The Shanghai
Gesture," and
co-author of "Rain," has
diven Greta Garbo the most fascinating story in which she
has ever appeared !
Don't miss it!
GRETA GARRO Wild Orchids
AT THE
with
LEWIS STONE
NILS ASTHER
QUEEN'S
et
TO-DAY & TO-MORROW At 2.30, 5.10, 7.15 & 9.20,
ROMANCE AND REVELRY
A lively story of love and the prize ring told with startling flashes of humour against a colourful Continental backdround I THE
BOXER BRIDE
with
XENIA DESNI
The famous German screen star,
WORLD
12.11b
19.10
Vienna Madrid
34.425
33.71
AT THE
Bucharest
eis.
Bombay
1/5 28/39
Yokohama
1/11 7/32
Brussels Milan Copenhagen
34,883
89.805
18.21
Prague
Lisbon
164 105.20
53
2/42
241
24
Rio Shanghai
Silver (spot) Silver (forward)
BALLANTINE'S
Corn: The crop is still decidedly backward, but the prevailing wea- in use for almost 100 years. ther conditions are excellent,
Date: Reports are bullish. The December position appears cheap.
Rye is expected to follow Wheat prices and to show relative strength if export business develops.
A DANGEROUS GAME.
AMERICAN SHORTS IN
RUBBER MARKET.
Selling by American shorts in the rubber market has now reached very large proportions, and, in view of the relatively small stocks in the United Kingdom and the improving tendency in consump
ESTABLIJEZD 1827,
By Appointment to
H.M. The Late Queen Victoria 422
H.A. The Late King Edward VII.
and
His Majesty King George V.
PURE
SCOTCH LIQUEUR
WHISKY
10 years old.
tion, and falling off in shipments GEORGE BALLANTINE
from the East these operators, whoever they may be appear, ac7 cording to Meters. Sanderson and Co., to be playing a very danger- ous gaine.
There are three possible explana- tons for this persistent and in- are persuaded that there will be tensive campaign. First that they a very sharp falling off in consump
& SON," LTD.
GLASGOW AND LONDON
DISTILLED IN SCOTLAND
If you want a really first class
tion in the latter part of this year; Scotch Whisky at a reasonable price second, that production will in
have DO better
crease during the same period and you can surpass all estimates; third, that Ballantine's Liqueur Whisky. they are already so deeply com- excellent. mitted on the bear tack that the only chance they set of getting out of an apparently indefensible posi-
than
It is
tion is to constantly attack. These The French Store
sales have eventually to be covered in London, and either have to be bought in the open market or be "provided for by shipments of standard rubber from New York. New York still remains far below London parity, and we understand that small shipments are being made from New York to London, but it is doubtful if any large quantitics could be bought in New fork without putting up the price there appreciably, in view of the declining stock there and the high consumption.
Any diversion of stocks from America to London would tend to produce a better and more stable market, which has recently been suffering, not so much from too much rubber, but too much rubber in the wrong place. So long na the habit prevails of shipping un- Bold rubber to purely consuming markets, consumers will get a false impression of the weight of sup plies, and the price will be uana Lurally depreciated.
Beaconsfield Arcade.
Dont worry In heral
BERTIER
A Welcome Visitor
at any
· time in
every Every
household. Bug, Flee, Ecctle, Moth, Fly, etc., dies once it has come into proper contact with
KEATING'S
TO-DAY & TO-MORROW
At 515 & 9,20 Only.
2.30 & 7.15 - Chinese Picture, Remorse.”
A SPARKLING COLLEGE COMEDY
Two popular stars in a splendid action story of modern college life!
RED LIPS
·with "
MARIAN NIXON, CHARLES ROGERS
AT THE
STAR
TO-DAY at 5.30 & 8.20. TO-MORROW at 280, 5,30′′& 9.20.
A COMEDY OF FUN & FASHION!
High Jinks at Atlantie
City with famous part-
Ders at their best!-
GEORGE SYDNEY VERA GORDON in 20
COMENS
and KELLYS
AT THE
QUEEN'S
in
Atlantic City
SUNDAY AND MONDAY
THE HONG KONG & KOWLOON WHARF
& GODOWN CO., LTD.
NOTICE IS HEREBY GLEN that the Undermentioned CARGO at present stored in this Company's Godowns at Kowloon will be SOLD by PUBLIC AUCTION unless CLEARED on or before the 24TH AUGUST, 1929, and/or the CHARGES in respect thereof PAID:-
Lot No.
Name of Stører.
Cargo
Date Stored
D34878
Kitting & Co.
4 Cases Machinery
26/10/18
D84959
Do.
4
do.
Machine, dc.
8/12/18
D85611
Do.i
+
do.
Coffee Mills, &c.
17/8/19
142573
J.T. Lloyd & Co.
Hong Kong, 30th July, 1929.
1 Case India Rubber Goods 11/10/24
C. M. MANNERS,
Acting Secretar
$12
"