10
Money and Markets
GOSSIP FROM THE SHARE MARKET.
EWOS AND ELECTRICS PROMINENT: SHARP
RISE IN RAUBS.
FREE ADVICE FOR INVESTORS.
[DY KUFAN."]
Gossip often moves "the market, | rency). I understand but no investor should either buy or sell on market gotip only.
A fair business has been put Larough. during the past. week most- ly in Ewos and in Electrics, both these stocks showing a fait appre- ciation since last week. Apart from these two stocks, the volume of business reports has been rather
· small.
There is a sharp rise reported in Raubs, and shares are now wanted At $9.50 Straits, which, muat come aa welcome news to Raub holders in Hong Kong. Readers will re- member that I predicted a rise in this stuck several weeks ago, since a dividend has also been
*
*
when paid.
HONG KONG BANKS: A fair number of shares changed hands during the
at 81,230, and closed with buyers at this rate.
woek
UNIONS improved to a buying rate of $330 A small parcel of shares were sold at this figure.
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WHARVES are steady at $130 buyers, but sellers are holding out for $131.
PROVIDENTS: Shares are want. ed at $4,30 but sellers are asking 84.40. I have not heard of any transactions this week,
EWOS improved from 'a buying rate of Tls. 16,00 early in the week. to Tis. 17.50 Shanghai delivery at the close. Buyers for local delivery are only offering Tis. 17.35, and there are sellers at Tls. 17.50,
•
are
HONG KONG HOTELS steady at 9310, and I hear one or two small parecis changed hands at $8.50.
糖
LANDS care in for business at $60 and closed with buyers at this rate.
ДЕС
.HUMPHREYS
gradually creeping up. Although buyers are offering 814.23 there are no shares coming out, which is a healthy sign.
TRAMS: One or two small par. cols changed hands at #18 to 818.20 cx dividend. There are buyers at $18 and sellers at $18.20.
STAR FERRIES are steady at $66.50.
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*
CHINA LIGHTS, after being; done at $12.75/80 for the old shares, dropped to $12:30. A few shares changed hands at the latter figure but the stock closed fairly firm with buyers offering $12.70.
*
ELECTRICS: Large parcels changed hands during the week at rates varying beźween 888.78 and 100. I think at least a couple of thousand shares must have changed hands at the latter figure. There are seller's at the moment at $53.50 and buyers at $38.95. I would not be surprised to see a slight im- provement take place shortly.
CEMENTS are fairly firm at $8.75. Shares changed bands during the week at $8.75 and 8.80.
RAUBS have improved since the dividend was paid recently to a buying rate of $8,50 (Straita cur.
RUBBER MARKET.
LONDON AND NEW YORK PRICES.
On July 31 the following prices were quoted for rubber in the markets named:-
London.
shares changed bands at $0.60 and 28.70, but I hardly think this figure wil attract
sellers.
доппу
REPLIES TO READERS.
Readers'
In this column readers of the Daily Pres can obtain free advies or information relating to the Hunz Kong, Shanghai and Singapore names share markets. and addresses must be included with their queries, and it is desir- able that a num-de-plume be also enclosed so that answers can be easily picked out by the reader. Every step will be taken to give as full and detailed an answer as possible, but no responsibility is admitted by the writer.
Those who have written in last week will find answers to their questions below:- J.B.I am sorry if I appear to dis.
agree with experts on the ques tion of rubber production and consumption, but those handling rubber shares both in Shanghai and Singapore have so far not painted any glowing pictures, of the immediate future for rubber shares. Moreover, the Shanghai market depends, not so much on the rubber market as the money market, and if money is easy and plentiful, rubber shares will not sag even if they do not rise. I have yet to learn, however, that mose is plentiful up North, hence my reply
*
NOAH-1. No. 2. At present rates, yes. 3. No. 4. Yes. Regarding No. 9, I suggest getting cash shares rather than forward,
you can
easy.
THE HONG KONG DAILY PRESS, TUESDAY, SEPTEMBER 3, 1929.
CHINESE CHAMBER DAILY SHARE QUOTATIONS.
OF COMMERCE.
"CHOP" SYSTEM DISCUSSED BY MERCHANTS.
IMPERFECT, BUT NO POSSIBLE SUBSTITUTE.
HONG KONG STOCK EXCHANGE.
Buyers Selere
(Nomieni
F068!
SHAREBROKERS' ASSOCIATION,
MONDAY. SEPTEMBER 1.
Duyark Bollere
Baler Montal
Banks
H.K. Banks
Da (London)... Chartered Banks. Mercantile Bks. “A”
Do.
Bank of East Asia.....
$1,035
!!
$1,230
Mr. Li Yick Mui presided over a fairly large gathering of repre. sentatives of different hongs and firms at yesterday's monthly meet. ing of the Chinese Chamber of Com- merre. Among those present were Mr. Chau Yue Teng (Vice-Chair- man), Mr. Leung Yue, Mr. Ho lu, T180 Mr. Ỉa Lan Trung Bắc. Tăng Shi Kia, and Mr. Chan Houng Pak (Secretary).
£195
单曲
£20
Insurances
$630
Canton Ins.
$830
Underwriters
$1.90
North China............
$330
Union Ins...
T160 $330
$50
Yanglaze Ins..
$60
$310
China Fires
$760
H.K. Fires.....
$170
Shipping
Douglases
$26
$25
Steamboats
3247
Indos (pref.)...........
$70
Do. (def.)
95/6
Shall Transports
499
Mining
Much interest was created by a discussion on the use of chops, It is the practice of Chinese Erms chop and in Chinese business circles to place unlimited reliance on a the chop takes the place of the signature in European commerce.
It was later | 83.15
A
An important local firm wrote "to the Chamber to say that recently they had paid out 87,000 in connec tion with one of their business deals to a person who had produced the chop of a customer. discovered that the chop was forgery and the firm victimized sug gested to the Chamber that in future no money should be paid out to an payment of money was due to a shop individual producing a chop. If or arm, it was suggested that the money be taken to such shop or firm nad the receipt chop thus obtained.
21/-
WJ
This suggestion is theoretically sourd but, after discussion the meet-a ing found that it was act practic 84.30 able, because, as a banker pointed. bat, almost every Chinese frin, have T.149 ing business with a bank, invariably sent an assistant to the bank with a chop, and against the chop the bank would pay out any sum of money.
Charity,
T.01
T.07
T10.60
፣ ▒
⠀⠀
881 $60+
$08
i
T.17
******
89/6
T.91
Water-boata
Beaqueta..
Kailans
T16 Langkats (comb.)...
Do. (single)
T140 Kxplorations.........
T.4
Shanghai Loans
Rauba
$300
$9
Tronch Mines
Docks, Wharves,
Godowns, etc.
H.K.K. Wharfa.
$150
Providents
$4.30
$32)
HK Docks
+-
Shanghai Docks
T140
T30
New Engineerings T7
T.163
Hongkes
Cotton Mills
די
Zoung Singa
317.201
S'hai Ctons (old)... T.8)
Do. (new)... T.661)
.......11
Landa, Hotels and
Bulidings
H.K. & S. Hotels H.K. Lands
991
⠀
!!!!!
MATERIA
1.17
•BARDER
VALEUŠEN
LIE
PARNA
・EXPRESS
SEPTICE
$50
30.
BARBER WILHELMSEN
LINE.
TRANS-PACIFIC, AND ATLANTIC COAST SERVICE. via. PANAMA.
NEXT SAILING
M.V. “TAI YIN"
on SEPTEMBER 12th
for
SHANGHAI, KOBE, YOKOHAMA,
SAN FRANCISCO, NEW YORK & BOSTON
42 Days To New York
For Passenger and Freight information please apply :-
DODWELL & CO., LTD.
Queen' Buildings.
Agents.
Telephone 0. 1030,
#
|JAVA-CHINA -JAPAN-
LIJNE
Tel. Agldrenu JAVALYN
Tel. Central 1574.
(J.CJ.L
York Hudding
· Hunggkrasti
REGULAR PASSENGER & CARGO SERVICE BETWEEN HONG KONG, AMOY, SHANGHAI, MANILA AND THE DUTCH EAST INDIES.
88.40
$60
Shanghai Lands ...
H.K. Realtys
87.00
Humphreys
£20
Chinese Estates....
Publia Utilities
$18.20
Tramways.
$18)
818
***
811.80
Peak Trams (old)....
88.05
Do
(now),
$11,80
80
$63
Star Ferries
8663
8127
819.60
Do
(naw) 812.68
H.K. Electrics.
8591
812.70
$301
SOUTH
BOUND.
Macao do.
Sandakan Lights...
KYFECTED
$6.00
STZAMIES
FROM
OR OR
ABOUT
WILL LEAVE OK
FOR
It was further pointed out that it would be impossible to meet all $17.40 the work that would be involved. every day at the banks if the chop system could not be trusted. If the hank had to send shroffs to every Arm to obtain their chops before paying out any money, a large staff of abrofis-all of whom would have 88.35 to be guaranteed for very large amounts-would have to be employ T.153 ed. In short no substitute for the 88 SMALL INVESTOR-Kirbys are ase among Chinese business houses
chop system could be devised for T14.15 quoted at two shillings in Lon-in Hong Kong. don. Eastern Sumatra have beca gradually going up recently, and the latest mail quotation shows buyers at 9/10 and 9 shiling If you want to buy these shares through local buy brokers, but whether they are casily marketable or not depends on what you consider " When you desire to sell you will have to obtain a rate from Lon. don by cable, and if suitable you close the deal by cable, all of which means so much extra ex- pense, besides which there is the question of exchange to consider. Regarding your fourth question, there is no such publication lobally. but arrangements are being made to include this feature in the Daily Press. Meantime, you can always eend your queries to me and I will be glad to give you what information I can.
G.L. Your position noted. 2. They also look good to me, but your letter arrived too late and you will have to wait till Tuesday next for this information. 3. No. You have apparently heard the rumours like many others. I de not care to spread them. 4. No. I don't think there will be much change until after October. 5. Yes, go ahead,
Letters were read from several $18,10 charitable institutions in North China asking for assistance for re- lief work in Szechuen, where there ia much distress owing to drought, $19.85 in the food area round Peping 812 (Wing Ting River district), and at
$391 Yuunan where the victims of the
823. explosion are still in need of help.
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•
•
K.K.1-Thanks for the confidence
shown in me. but I do not wish to enter into a controversy with those who are obviously unfriend.
ly with the local" Rialto."
Sorry, but I can do nothing.
CANTON TRADE NOTES, The cotton yarn market is still weak, there being no demand from the country districts.
But prices have not fallen as supplies are short..
The production of charcoal in Fatshan has decreased and the in- dustry is declining. Merchants any they have made no profits during the past few years.
•
T.14
20%-
Local Motor Troubles. Mr. Ip Lan Chuen drew the attea- tion of the Chairman to what ap peared to him to be harsh regula tions in regard to motor traffic in the city. He pointed out that as soon as a motor car (public or $34 private) stopped anywhere, a police-$7.70 man, would always come up and point out to the driver that an ob- $6.50 struction was being caused. understood that licebees were to be cancelled after six offences and he $5 anked the Chamber to see if some thing could be done for chauffeurs. his licence after six such. minor It was rather hard if a person Inst offences.
Ho
BULLION IN JAPAN.
LARGE IMPORTS FROM UNITED STATES.
imported into Japan in the first Gold and silver bullion and coin
78,638, all from the United States, quarter of 1028 amounted to excepting 861 imported from China, states the American" consul at Tokio, Mr. C. L. DeVault, who adda:-
11/-
O. Lights (old).
(...............- $12.70)
36.70 Telephones.......
China Bases....................
Tractions 8/6d
Do. (pref.)......
Industrials
Canton Ices
Cements (comb.)...) $8.70
Do. (old)... 871
$2
81,20
Do. (LO)...
Ropes
་་་བ་མ་།
80.95
China Sugars
827
Malabon Bugars
United Asbeston ...
Miscellaneous
8251
$18
812
311.20
aminmug
8. prent,
318.90 Dairy Farms. 30.80
Der A. Wings..... Amusements Annu $1.65 Constructions
$1
814 Lane Crawfords
Mackintoshsonianza. Nauyang Tobacco... $4
6437,
Sinceres (old).
Do. (now)
Watsons
Wm. Fowells..
B. Ind. G.8 Bonds....
89.60
89.10 $18
HK. Govt. Loan...$107
EMPLOYER'S LIABILITY.
REBATE FOR 1928: QUESTION
OF ADJUSTMENT.
RAW SILK.
823
TJIKARANG TJISALAK TJIBADAK
7th Sept.,
BATATIL
S'HAI. & AMOT 5th Sept. S'IAL, KLUNG. 8th Sept.
* Άκοτ ...SHAL & AMD 16th Bapt.
TJISONDARI SHAL & AMOT 26th Sept.
NOOD
10th Sept, MANILA, MESAS, Nood & SORBABAJA 16th Sept., MANILA, M'ISAR. Noor & S'OBRABAIS 26th Sept., BATAVIA
Noon
820.10
$0.50
$264
STEAMERS
MARKETS QUIET."-
www.c
Mesars. Pentresth & Co. have orwarded us the following letter, dated July 28, received from Messrs. Hornby Hemelryk & Co., Liverpool.
The gold imports of 872,738 cx+ ceeded those in the first quarter of 1029 by 21.5 per cent. The silver imports were less than one-third as large as in the first three months of 1927. No silver coin or bullion was imported in the first quarter. The certificate of the auditors of of 1928.
There were, of course, no gold
the Accident Offices Association in coin or bullion exports during the regard to the undertaking given embargo, which has remained effeo-constitucat insurance offices for the first quarter of 1929, owing to the by the association on behalf of its tive since 1917, with the exception purpose of limiting the charges to to Ec. lower. of certain emergency shipments made under government sanction to employers in respect of employers' The New York certificated stocks New York and London in 1925, liability insurance has been issued on the 17th inst. totalled 4,500 bales change. There are many indica 1926 and 1927 in aid of yen ex- as a White Paper.
(5-bale unit) a 000 hales (10-bales) tions that the removal of the gold taking is that the association
The general effect of the under-unit. einbargo is imminent.
Plantation gardes opened steady but improved later on some Ameri- can buying, but the market closed easier. Smoked sheet, spot and]
The raw silk market has become August, sold from 10-15/18d. to
more active and prices have nd- 11-3/18d. to 11d. and buyers; vanced slightly. Some 130 bales September from 111d. to 114d. to
wera sold on the 1st instant, the 11fd. and sellers; Öct.-Dec.," from
d. to 1d. to 11-5/18d. and prices being:-H. K.8970 for No.
14/10 per picul. buyers: Jan.-March from 111d. to 11-9/184. and buyers; April-June Over 8160,000 worth of sugar cane from 18, to 11 d. and sellers; Jan.- were destroyed in the West River Dec., 1930, from 18. 0-1/4d. to 1 districts by the recent typhoon. It Q-3/18d. and sellers; crepe, spot, is understood that the production United States. from lid. to 11-1/16d. and sellera.cf sugar will be greatly decreased Para grades unchanged; hard fine, this year and a higher price is apot, quoted 11d., sellers. A expected.
New York,
:
The entire imports of gold and, silver coin and bullion in the quar ter under review, with the excep- tion of 816 of silver opin from China, were received from the
week and on balance are unchanged Values have fluctuated within a narrow compass during the past
· Our mail advices from New York}||| engages on behalf of its members are featureless. The spot market to adjust, from time to time the is quiet, and holders seem more rates of premium for this class of confident, although some uneasiness insurance in such a way as to make is caused by rumours of price cut- the loss ratio" (ie., the proporting. tion which the total amount paid or set aside in respect of claims bears to the premiums) not less than a fixed percentage
The quantity of coal imported
The ratio of losses to premiums Smoked sheet sellers were le The weaving of grass-cloth which into Hong Kong, Cantor and other during the year has been found to higher. Spot and August, 2010 has been one of the largest "indus-South China ports from Formoes be 54.85 per cent.
The insured Aug. Sept., 224c. First latex crepe tries in Kwangtung from time im- has increased rapidly during the employers will, in consequence, bo sellers were also ic. higher. Spot memorial has been declining dur. last few months. From April to entilled (subject to the terms of and August, 21e Aug-Sept.,ing the past few years. For many June, inclusive, the quantity varied the undertaking) to a rehate of, 2ile, New York Rubber Exchange years, this material bas been used from 15,000 to 20,000 tons monthly 7.85 per cunt. In respect of 1994 closing prices were 30 points up to for men's long summer gowns. But But since July, the quantity has the loss ratio" gave a rebate of 10 points down. August, 21.00c.; now-a-days so many people wear increased to 20,000 tons per month. 7.18 per cent., in respect of 1925 Sopt., 21.00c.; Dec, 22.40c; March, European clothing instead of gowns It is expected that 30,000 tons will. 8.00 per cent, in respect of 1920 22.900.; May, 23.49. Sales, 70' con- that the demand for the materiale imported during the present" 5.35 per cent, and in respect of
has suffered appreciably,
month.
1027 10.87, per cont
iτnces.
Latest crop news is very inde finite and has bad little effect on values.
Our Now York correspondents cable that there is a steady demand. for Raw and Thrown Bilk at lower levels. The picco goods market is very quiet,
Another cable to hand over, the week-end aays that the consuming trade is holding aloof, but that sel lers are resisting lower prices
Close New York Saturday August 94.80c, September 84.79c, January 84.79c.
TJIBADAK
||
NORTH
From
ין
BOUND.
EXPECTED
ON OR 13002
Wizz LIZATE "ON OF ABOUT
FOR
BATAVIA
4th Sept. 4th Sept.
14th Sept.
6th Sept. Axor & S'HAL 8th Sept Axor & S'KAT. 16th Sept. Amor & S'AL 20th Sept. AMOT & S'HAI.
TJISARDEA Jaya.Maxaa TJISONDARI... BATAVIA TJIMANOEK. JAYA, MAKASSAR 18th Sept
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Famous Botanical Gardens of BUITENZORG, Smouldering Volcanoes.
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A round-trip that takes 3 to 4 weeks to be remembered for a life-time.
For particulars apply to:-
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