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THE HONG KONG DAILY PRESS, TUESDAY, OCTOBER 22, 1929.
Money
and Markets
GOSSIP FROM THE SHARE MARKET.
HONG KONG STOCKS "STILL ON THE RISE:
EWOS PRECIPITATE DROP.
FREE ADVICE FOR INVESTORS.
[BY
Gossip often mores the market, but no investor should either bug or sell on market gorip only..``
The feature of the week's business on the local Rialto is the drop in
KUFAN."]
WHARVES were done at 8147/8, closing with buyers offering €145.30 and sellers asking 9149.
+
*
*
CHINA, PROVIDENTS improv the price of Ewos, which went used slightly during the week, sharci low as Tls. 16 for cash shares. I changing hands at various rates Buyers am afraid a good many local in-between 83.40 and 83.50
are still offering 83.70 for shares vestors will be caught in this without finding sellers.. sudden drop, as I know a consider- abile number of December Ewas ere being hoarded in Hong Kong wait ing for a favourable opportunity to come into the market. I tops this will not mean that the money made by Hong Kong investors and one or two brokers will go out again, but f the price of Ewos does not im- prove within the next month or so, December Settlement, as far as wos are concerned, will be very interesting, not to say intriguing.
From inquiries made locally, it would seem that the disquieting news from North China and tho prospect of renewed civil com inction is responsible for the fall. As I have said before, no matter huw much Hong Kong interests itself in Ewos, the price ia controll- ed in Shanghai, and speculators tere have little to say in the matter:
Our own local stocks, I am glad to say, are climbing gradually, and this gives me far more satisfaction than would a rapid rise in rates It Hong Kong shares are to ap- proach the high prices which they commanded in former days, the rise will have to be gradual. A sharp rise is generally followed by a corresponding drop, which at the present moment would be far from desirable, as it would mean far too much scope for speculation than is good for the financial health of the Colony.
HONG KONG HOTELS were very popular during the week, and improved from a buying rate of 30.00 to 810.60 at the close on Satur shares changed hands at rates vary- day. Some fairly large parcels of
ing 89.00 to 810.60,
"
*
HONG KONG LANDS improved slightly, and after a few shares had changed hands at from 887.50 to 867.75 buyers offered to take further shares at 868.
•
HONG KONG REALTIES ako showed a slight improvement. Sales were put through at 89 to 89.30. and there are buyers at the latter ate. I understand that some very large parcels were put through this stock during the week.
•
+
HONG KONG TRADE.
EFFECT OF DEPRECIATED
DOLLAR.
The fortnightly report of the Hong Kong General Chamber of Commerce contains the following references to trade in cotton piece- goods and fancy cottoa goods :---
Exchange decline, whilst tempor arily killing all prospect of forward business, should ultimately assiet liquidation of existing stocks.
It will necessarily take some little time for market values to appre ciate to levels approximating the present silver parities of replacing cost, based on current rate of sterling exchange. Clearances are maintained.
Mid. Am. Cotton
WIJ
quoted at 10.06d. in Liverpool on
"Spot "
the 17th instant, and Eg. Såkel, at 13.78d.
Cotton Yarn. During the inter- val prices have appreciated $3 to 8 per bale due to the heavy de cline in the rupees exchange.
Nominal quotations are as fol lows: No. 10s, $170-100; No. 19. $180-200; No. 169. $200-210: No. 20s. $210-990
market in Hong Kong, Shanghai or Singapore will find answers to their queries below,
Every work in this column. "Kufan replies to readers on any matter pertaining to the locali share market. Inquiries concern- ing Singapore or Shanghai blocka can also be dealt with... Every effort will be taken to give as full and detailed a reply as possible, but it is clearly stipulated that no respon aibility is admitted by the writer for so doing.
asked to
Correspondents address their inquiries to KU FAN," care of the Editor, and to inepclose their names and addresses,
not for publication. It is desirable that a norme de plume bo included HUMPHREYS closed with buy-in order that a correspondent may ers at $15, and look a very good easily identify the answer intended "buy" at the moment. The stock has been climbing steadily, and is considered a first-class investment.
*
+
HONG KONG TRAMS Quite a darge number of shares came out during the week at 819.70 to $19.75. There were no sellers under 819.00 an Saturday, and buyers were offer ing slightly less.
STAN FERRIES have buyers at 379.75. During the week shares changed handa at various rates be-
weum 871 and 972.73.
*
A
By an extremely happy coin vidence, the revival of activities on the Rialto comes at a time when the dollar is low. I know quite a num-
CHINA "LIGHTS enjoyed ber of people who have money saved steady rise during the week, rates up in Hong Kong dollars are improving daily. On Tuesday they investing them in local stocks, to be opened with buyers offering 814 for disposed of when exchange goes up. jold shares, and they gradually Our public utility companies are crept up to 814.80. This rate at erming in for more attention that tracted a good number of sellers, ever, and there is therefore and a fair number of shares were additional ground for thinking put through as $14.73 to 814.80. that the market will keep on im- The market was slightly weaker at proving.
the close, with sellers at 814.70 and buyers only offering $14.50.
By the way, the local December sculement will be very interesting. ns it will be the biggest settlement since the disastrous collapse of 1025. I think by now most of the out- standing accounts of 1923 are amare a less placed, and if the prosperity of the market continues, brokers will very soon get out of the difficul- ties in which they were involved by the strike.
*
for him.
J, A. (Macau)-Here are
Lew particulars of the company you are interested in. The paid-up capital is 8900,000, and the shares at 810 each are fully paid-up... K said in a previous answer that the shares were not cheap as the rate you mention, but if
You are thinking of a "lock-up I.. re- commend them, as they appear to
EXCHANGE RATES.
(DRITISH WIRELESS SERVICE]
Ready, Oct. 20.
Paris "New York
Brussels Geneva
123.803
4.978
34.87
25:19
Amsterdam
12.00)
Milan
03.003
Berlia
20.10
Stockholat
18.14
Copenhagen Osto
19.203
19.203
Vienna
34.37
Pragua
164)
Helsingfors
1031
34.325
109.23
3W3
817
Madrid
Lisbon Athens
Bucharest
Rio
Buenos Aires Bombay Shanghai Hong Kong Yokohama ..... Silver (spot) Silver (forward)
31
47 1/32 1/5 27/32 9/21
1/8
1/11 19/39 23.13/16
23 1/18
DODWELL
CANTON RAW SILK MARKET.
WEEK ENDING OCTOBER 15.
There has been an netive market during the first few days of the past werk, as the result of a good. demand from America and Europe.
Prices advanced by 3 per cent, to 3 per cent.
During the last few days, buyers have withdrawn and the market has eased eff, so that prices quoted to- day are again on the same basis as they were a week ago,
We quote:-81,000 for 14/18 N.S. Crack Chops: $920 for 20/92 X.S. Ex. Ex. A.; SS for 13/15 D.S. Best I
A han, who was granted a "dock brief at London "Sessiona, chose Miss Colwell; the only woman bar- rister present, to defend him.
Woman at Willesden: I know I am only a womän, but I can't help that, can I?.
3fan at Willesden: The old man Was knocked down. Solicitor: Steady on, he is only fifty!
Lambeth woman: She can tell a lie the same as I can, but I am telling the truth..
& CO., LTD.
NEW YORK BERTH.
FOR NEW YORK & BOSTON via SUEZ.
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, ADRIAMO, LEVANT, BLACK SEA" AND DANUBE POETS.
REDUCED PASSAGE RATES, “ BRINDISI, VENICE & TRIESTE LONDON
**
£75.0.0. £83.0.0.
NEXT SAILINGS. OUTWARDS FOR SHANGHAI, YOKOHAMA
KOBE AND MOJI.:
“M.V. "ROMOLO” 8.8, VENEZIA”
Hi
From Hong Kong. Sails on/or about 29th Oct. Sails on or about 7th Nov,
have a very good future, thongir HOMEWARDS FOR BRINDISI, VENICE AND TRIESTE,
SS." ROSANDRA”
M.V. "RUMOLO".
From Hong Kong. Sails on/or about 2nd Nov.
Bails on/or about 30th Nov.
as paid. It is NATAL LINE OF STEAMERS
the
probably there will not be any substantial rise this year.
How- ever, all share rates are going up, so if you intend to buy, better aut at once. Dividends have been paid regularly, and last year 30 per cent, in a probable that Jis year dividend will be maintained, if. not increased. The shares are not held by directors only, as you state, though one of them holds u large number. You appear to be right about there being no "official" quotation for this stock, but the rate is neverthe- lees knows to brokers in Hong Kong.
HONG KONG ELECTRICS | CAUTIOUS-If you are anxious to showed a steady riss during the past week and shares changed hands daily at rates varying be tween $61.50 to 887. On Saturday there were buyers at 866,50 with sellers wanting half a point over. The demand for this stock is still being maintained.
It may perhaps not be out, of place to sound à general word of warning. If possible, always buy HONG KONG TELEPHONES cash shares. When forward shares were done at 89, and appear to are desired, do not buy from un-have created a very good impression authorised, persons or firms, no in certain quarters. Buyers of fur- atter how tempting the rates. It ther shares are available at about would never do to place your orders | 98 with someone who operates on the policy of "Heads, I'win; tails you
Jose.
2
HONG KONG BANKS' changed hands during the week at rates varying between $1,360 to 81,378, and closed with buyers paying on 81,370.
CHINA UNDERWRITERS were pegotiated at $2.45 and 82.50 dur- ing the week. On Saturday sellers were asking $2.50, with buyers offering five cents fess.
*
CEMENTS-Quite a fair number
of these shares changed hands dur- ing the week at $11.30 to 811.80, and the demand has by no "ease" on Saturday. Buyers can still be found at $11.80.
+
uncans
HONG KONG ROPES were done at 88.75/60. After being neglected for a long time, buyers can now be found for these 'shares aral at 88.70 possibly a good number can be placed. Sellers, 1 hear, were ask ing 88.50 on Saturday.
DAIRY FARMS—A smail im- UNIONS were rather neglected provement was noted in this stock, at the close, after enles had been shares changing hands at rates put through at 8380 to 8377:
varying from 891.75 to $22. The | buying rate at the close was 821.75, but sellers are reluctant to part with shares at anything below $99.
•
+
CANTONS, CHINA FIRES and HONG KONG FIRES were, inquir ed for at 8700, 8310, and 8816 re- spretively. I have not heard of any business being put through in these stocks.
1
· STEAMBOATS had a slight rise, and after sales were effected at 827 to 897.30 there were further shares offering at the former rate. į
*
•
WATERBOATS-A few shares
changed hands at 322, and I think more shares can be placed at this
rate.
骨
EWOS-This stock slid down con- siderably during the past week, and I understand on good authority that the buying rate on Saturday was only in the vicinity of Ts. 18.
REPLIES TO READERS,
Readers of the Daily Press, who lave written in during the week on the share for information (Continued at foot of nezi column),
gbares,
buy, better wait till the end of this month, when rates will probably ease off slightly. The stock is, in my opinion, getting worked up too quickly, as al- though the future of the Corn- pany is very bright, there seem to be no reason for a rise in rates at present. For an investment to be locked away and forgot- ten" the present rate is not high, and if maintained up to the end of the mooth will not recede for some time. I don't think may "easing off" will be of a permanent character. Re garding No. 2, my advice is to keep of it altogether, even if are offered to you “for a There is no possibility whatever of share value rising as I hear the Company is being
1085. operated at a beavy BAHAMAS—A very unusual' in- cident, and one which is not like- ly to recur for a long time. I don't think you were "let in," as you describe, but rather that you were the victim of a trick of circumstance. You will meet with such experiences always, though it is rather hard on you to get so badly hit in your first. venture Regarding the further suggestion of your broker, I see no reason why you should not follow it
REVIVAL-1. The December set- tlement, I hear, is very heavy.. 2. Yes, according to the rules, you are bound to put up margin when called upon to do 50. 3. Within banking hours on Settlement day. 4. Only by pre- arrangement is thie course pos- sible.
PRESIDENT—I have not heard of any settlement being arrived at between the two companies. Meanwhile the receipts of both are encouraging, and commietition is doing them and the public (in- cluding shareholders) good. There is talk of a merger, but personal. ly I don't think it will come off,
FROM CALCUTTA & COLOMBO
SOUTH AFRICAN. PORTS
8.8. UMZUMBI"
ΤΟ
Sails from Calcutta 3d Nov.
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Sailings from Europe for S'hai, Japan & Northern Ports:-
M.V." KULMERLAND* 8.8. "BAARLAND” 8.8. "AMMON" 8.8. "OLDENBURG M.V. "HAVELLAND” M.V."ERMLAND"
HOMEWARD.
due here on or about the 25th Oct. Ane here on or about the 10th Nor. dne here on or about the 37th Nov. ... due here on or about the 27th Nov. ... due here on or about the 16th Dec. sue here on or about the 30th Dec.
Sailings for Gerion, Rotterdam and Hamburg via Manila, Singapore, Colombo & Port Said:--
MV. DUISBURG " sailing from here on or about the 30th Oct. MY. "BAUERLAND sailing from here on or about the 14th Nov, +M.V. “KULMERLAND” sailing from here on or about the 26th Nov. *8.8, “SAARLAND' .....sailing from here on or about the 10th Doc. BB. AMMON”. sailing from bira on or about the 24th Dec. 1830** S.S. "OLDENBURG" miling from here on or about the 4th Jan.
+Calling also at Marseilles. • Calling also at Amsterdam.
61]
سمی
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