Money and Markets
GOSSIP FROM THE SHARE MARKET.
ANOTHER CROP OF RUMOURS IN CIRCULATION:
HOTELS AND EWOS ACTIVE.
FREE ADVICE FOR INVESTORS.
[BY "KUFAN."]'
Gossip often moves the market, i usual dividend, which figures out at but no investor should either bug | about 7 per cent, on investments. or sell on market goraip only.
REPLIES TO READERS.
Readers who have written in for
THE HONG KONG DAILY PRESS, TUESDAY, JANUARY 14, 1930.
THIS DOLLAR BUSINESS.
HOW THE COLONY WILL GAIN.
AN OPTIMIST'S VIEW. Amid general depression about the dollar, especially among those of us who live on fixed" salaries it is, perhaps, good to have a little optimism, such as that conveyed by a well-known authority to a Doily. Press representative yesterday.
In answer to the interviewer our authority agreed that with the de- preciation of the "dollar it was naturally prophesied by several lead ing business magnates and news papers that 1030 in Hong Kong
would be a gloomy year."..
"We always find destructive
" but tinued,
when constructive
HONG KONG TRADE.
EFFECT OF THE LOW
DOLLAR.
** spot !! lots of spring cargo, and the indications are that prices for Cotton Fancies may be fairly good after China New Year, as stocks are comparatively low, with no pros- pects of further imports at the pre- sent exchange. Quotations from Manchester for White Shirtings The fortnightly report of the show further reductions, but theso- are more than offset by the further Hong Kong General Chamber of drop in exchange, and normal trad- Commerce contain "the followinging cannot be expected whilst the references to the textile trade;--
Cotton Piece Goods and Fancy Cotton Goods.
The following reports have been received:-
There is nothing whatever doing in Fancy Cotton Piece Goods, and exquiry for July shipment onwards to be expected at this time of the year, in conspicuous only by its
entire absence.
Small sales of Grey and White
present situation persista Clear- ances have shown & slight improve- ment.
Woollens. Clearances of woollens have been
slightly better since the holidays, but no move has been made regard- ing orders for July/August ship- сло Dow business be went, nor fall of the dollar. It is reported forthcoming during the phenomenal that certain concerns are offering to accept orders for Continental and Bradford woollen goods at appro ximately the same price basis as
inquiries about, the volume of busi information will find answers to critics the world over," he con- Shirtings from stock are reported, ¡inst season; but the dealers do not Every week KUTAN will reply in ones are wanted, they are rarely prices sccepted in all cases being appear to have responded to these
For the past week the market en the whole has not been very brisk, and although there were plenty of Dess actually transacted was not so big as one might have hoped, In- "terest centered principally on two stocks, Hotels and Ewos, both stocks coming in' for a very great demand, and a number of shares changed hands.
Those interested in Hotels will have noticed that the stock gradu- ally rose during the week from 12 to $12.73 for cash shares, and at "the latter figure there are still buyers shout, I understand that the reason for this sudden demand for Hotel shares is due to a rumour to the effect that an offer had been received by the Company from a
syndicate in Shanghai for the pur- chase of both the Astor House and the Palace Hotels. The rumour further stated that the only hitch in the negotiations is the question of price, buyers not coming up to the Company's ideas on the sub- ject. On the strength of this story share buyers have come up in their prices, and the stock has been the subject of a large business. If the Toport is correct, it appears there should be a further rise in the price of the stok, but there is very good reason to doubt the truth of the rumour, and the least that, intend- ing buyers can do is to wait until: something more definite than n mere rumour of reported negotia- tions comes through.
•
kce
EWOS were handled fairly freely weck, buyers from during the Shanghai taking up several thou- anad shares at last week's prices. It is difficult to any which way the price will go before January Settle- meat, but since the Shanghai eegro, in December, supporters of this stock appear to have had their props knocked away from them, and I should not be suprised to rates going lower. The Intest quotation from Shanghai is TIs. 15.00 sellers, and it looks very much as if the Northern port is still wrapped up with the difficulties of the December dearle, as undoubt edly a large number of Ewos must have been carried," and these are the shares that are now being hawk. Talk of huge profits by the. ed. Ewo Cotton Mills is heard of overy. where, and rates should be going up, but confidence in this stock BCCs at the moment lacking, in spite of rumours of a good final] dividend and & poesible bonus issue which I mentioned last week..
CEMENTS did not come in for so much attention during last week, and quite a few sellers appeared. Shares receded from $16.10 to $14.75 during the week, but toward Friday armed up and the week closed with buyers again 'coming up in their price. There appears to be no justification for the present sharp risc, although it is rumoured that there is a possibility of a small dividend this year.
CHINA LIGHTS dropped slight- ly during the week, due to absence of demand. At the close shares were wanted at $19.10 per share cum rights.
HONG KONG BANKS: Quite a fow shares changed hands last week, during which period rumours were current to the effect that the Bank would not pay its usual dividend. Shares, consequently de- "preciated considerably, and business was actually done at $1,990. They firmed up towards the end of the "week to $1,295, buyers. Now that the announcement has been made of the dividend of £3 and honus of E1, it remains to be seen just how the news will affect the market.
UNIONS were 'vary much in de- mand, inquiries coming from both Hong Kong and Shanghai' for these shares, but few shares came out and at the close buyers were offering 8374 without getting any response.
LANDS This stock has not come in for very much attention had al- though shares were done a fortnight ago at $60, they dropped to 804.50, and at the close of business sellers were asking $65.
HONG KONG ELECTRICS: At 880 to $71 a few shares changed hands. due to sellers holding off at these rates. The oft-repcated rum- our of a new issue is again being circulated, for whatever credulity it will fetch If the new iesue is in inct coming, the shares are worth the present figure, but otherwise only a very little calculation is re- auired to show that the return on investment at present quotation is no higher than bank interest on fixed digita
WATSONS: A few shares have changed hands from $11 to 11.50. and those who have bought are figuring ou a good year with the
|
their queries below.
this column to correspondents whe may wish to make inquiries regard ing any local stock, or on any mat ter pertaining to the local share market. Questions on the Singapore and Shanghai market can also be dealt with.
Name and address of the cor respondent must be enclosed, not for publication, but as evidence of bona fides. It is desirable that a nomme de plume be also included, so as to enable the correspondent to pick out the answer intended for him.
Every endeavour will be made, to furnish as full a reply as possible, but on the distinct understanding that no liability whatever is ad- mitted by so doing.
Address your letters to KURAN, care of the Editor of this paper.
SLACKER--I am glad you missed the markët in a sense. To invest in such a stock na that you men tion is sheer foolishness. It is a common practice in mining con- cerns to issue small-priced stock such as that you mention, and while a rise of 5 cents will bring in substantial profits, a similar drop would make a big hole. in your capital. Keep out of it. B.A.The fall of the dollar will not affect the local share market
found. Coming down to hard facts
-why blame bankers, financiers,
Does
one
"Offtake of White Shirtings shows appreciably below replacing costs. improving tendency, but aggregate is negligible.
Mid. Am. Spot was quoted at 9.44d. in Liverpool on the 9th in- alant, and Eg. Sakel. 14.30d.
and brokers for the present low rate of the dollar realise that control of the silver market is in London, and that the two biggest silver consuming coun- tries in the world are Chins and
Another report states:-- No new business can be reported. India? If these two countries have ample stocks in hand-so much so that they are willing to sell them-A few enquiries have been made for
expect the
selves how can
One
market to come up?
overtures up to the present.
Uotton Yarn.
No business to report.
FOREIGN MAILS.
RADIO NOTICES
The Radio Office, where fall information conosrning all wirglass servicos may be obtained at all times, is situated on the ground floor of the P. & O. Building in Des Vaux Bosd, next to the General Port Ofles.
Individuale and firms are recommended to register their telegraphio ad- dress at the Radio Ofice. No charge is made for this,
NOTICE.
Holders of Wiralows Licences are advised that under the Wireless Tela- graphy Regulations all auch licenses expire on December 31st and that licenom for the coming your must be renewed as oarly as possible during the month of January.
JAYAR
JAPAN..
WA+
SHANGHAI & AMOT JAPAN & SHAMONAI ... SWAROW
AUSTRALIA & Manila Valuutta & Syaita
INWARD MAILS.
Pri
Jyo Maru Bokuyo Maru Taning Angere
14th Jan 14th
14th
+1.
***
14th
Jan
*
Center
13th Jan.
1
Kana story
Shirala
16th Jan.
15th Ja
་་..
EUROPavis Suts (Letters & papers, Len
17.h Jan.
Pres. MaKinlay ...
17th Jan.
Khius
13th Jan.
Siberia Maru
18th Jan.
Haruna Mors
19th Jan.
Tengo Maru
20th Jan.
Antenor
Ylut Jan.
Bakazaki Maru
24th Jan.
don, 19th Dec, & parcels, 19th Dec,["Karmala 1929)
U.9.A. (Seattle, 29th December 1823),
Jagan & SHANGHAI.......
Canada, Japan & SHANGE-1...
Nominal quotations are as fol- lows:-
JAPAN & SHANOHAL...
No. 10s.
8170/183
STRAITS
No. 18.
105/210
Jaran & ShanD-AS.,
19
No. 12s.
180/105
JAPAN & SHANDBAL JAPAN & SHANGHAI ...
r
-
No. 208.
210/220
**Hong Kong is on a silver basis, DAILY SHARE QUOTATIONS.
and it is only natural the dollar must depreciate accordingly. In fact, at the present time, the sterl ing basis of the dollar is still id. to 1d. over the parity rate.
HONG KONG STOCK EXCHANGE.
SHAREBROKERS' ASSOCIATION.
OUTWARD MAILS.
REGISTERED and PARÇEL MAILS are closed 15 minutes sarlier than the time given below unless otherwise stated, and where mails are advertised to close at or before 9 am. registered and parcel mails are closed at a p.m. on the previous day.
For
PER
Ayer Baller BalNominat
MONDAY, JANUARY 13.
Balers Buyere
Sales Nominal
Banks
*Manila, Australia & New Zealand via Thursday Island due Thursday Island. 25th January
Taiping ..
**
$1,300
HI. Banks
$1,290
Java via Manila & Sonrabaya
Tjisalak
£110
***
Roibow...
£19
£19
Swatow, Amoy and Foochore
£271
£34
£15
Haigan, Ceylon, India, Mauritius,
$85
Furt and Fouth Africa, Aden,
· Angare ...
Egypt & EUROPE vis Marsillas 'düd Marseilles, 14th February
"Now let us take a shopkeeper's point of view on the matter. He has to buy stocks from foreign cour- tries, and has now to pay from per cent. to 30 per cent. more for his goods than he did say six months ago. Naturally the selling price must increase accordingly. But if $1,300 the increase is "as gradual as the drop of the dollar, the buyer will not feel the pinch so much, whereas in many instances the increase bas jumped from 0 to 100 per cent. all of a sudden-the tea-dance prices for instance. That, of course, is a luxury and not, a necessity, but in case of necessities one has no alternative, because a min must live.
directly, at least, not for the pre- Furthermore, it is in the nature sent. In fact, I think the effect will be just the opposite, as natur. of man to grab while the grabbing is ally more money will be kept back good, thus one Ends profiteering all! in the Colony until the time is
over the Colony, even in cases of goods produced in China. If people more favourable for it to be sent
would only realise that a slow but sure policy is always worth while, things might be "different.
away. This money, or some of it, might dribble its way into the
share market.
MOTOR-My inquiries lead me to advise you not to enter into any forward commitments in this stock:
In
WIN AND LOSE-There may be
something in what you say. any case, I consider the present a good time to buy the stocks you enumerate, with the possible ex- ception perhaps, of No. 3. Even this stock might show a risc. Go ahead if you have the cash. No is the pick of the bunch at present,
•
YOURS TRULY-In the article above, you will find many rumours such as the one you mention. If you care to bank on any of those, I don't see why you should hesi-, tate at the one which you your self have heard. You want me, to conarm it. I cannot do so, but would add that I myself have heard something of the sort. The figures, however,
me prevent placing too much reliance on the possibility of an early dividend. E.W.N.-Periodically you will and crazes for certain stocks,» some- times based on nothing. Your stock is now involved in one such craze," and if you are showing a good profit, clear out.
GET IT-If you wait a little longer
Trade. Prospects.
As I have already mentioned, men must live, therefore there will always be a demand for goods. The sudden drop of the dollar naturally sets the heads of business-houses
$95
!!!
Do. (London) Chartered Banka... Mercantile Bk. “A” Do. "0" Bank of East Asia...
Fort Bayard, Holbow, Paklici & Haiphong Swatow & Amoy
couver, B.C.-due Vancouver, B.O.,
31st Jan, & Europe via Siberis
Swatow...
Aweiyang
Baiyang..
Kueichow.. Calulu Luchers
DATE & TIMA
Tues-lay, 14th, Kog.
9.45 A
Letters 10.30-a
10.00 AM 12.30 px
1.00
Kowloon PO. Beg. 1.00
4 Letters – 1.00 2 m
1,452 v
2.30 1.80
3.30 P 4.30 M
Q.P.O.
18.
Insurances
GetLors
Tonkin
$705 T160
$375
$320
Canton Ins.
$710
Antung
32
Underwriteru
$1.60
$1.80
North China
T160
Manila
Pre Tatt
Union Ins.
$375
Bwatow..
foo Shing
5.00 2
M850 Yangtaze Ins.
$60
China Fires
$310
Shanghal, Japan, Canada, U.S.A. c. &B. Amerian'& *EUROPE via Van-
Emp. of Canada
Parcela
5.00 M
Bog.15th,9.15 a
$825
H.K. Fires....
$815
| Latters 10.00 a m
Shipping
8.
Douglases
824
zari
Steamboats
$271
Manila, Bandakan
and Rabaul
343
Indos (pref.)
$30
Amny
$70
Do. (def.)
890
95/10 Shell Transports
100/-
szał
Water-boats
$23
Mining
Etraits and Calcutta...
Deli Maru Orenser.
Bui Bang
Par.
Benquote......
Friday,
55/
Kailans
54/.
T13.60 Langkata (comb.)
T.144
T.7 Do. (single)
.TA
Japan and *HUROPE vís Biberia ng Japan
*
T1.30 Explorations......
Shanghai & *KUROPE via Siberia „
"Kaga Mora Karmala.
Karniala
17th, 9.89 AM 6.00
Keg.
5.00 PM
Shanghai LoanE
T.3
Raubs ......
$12/
21/-
Tronoh Mines
20/-
Docks, Wharves,
Bir-its, Ceylon. India, Mauritius, E, & 8, Africa, Ader, Egypt & EUROPE vin' Marseilles-duo' Marseiller, 15th } February
Khiro
thinking and waiting until matters 84.70 improved before taking further crders. Thus temporarily their business is at a standstill and, what is more a man is apt to cry out louder when in.. pain than from pleasure and so it is here. Now if $11.60 the intrinsic value of the dollar is low, foreign investors and financiers will invest in the Colony, because they will get more dollars as the equivalent of their own currency. One can always get 8 or 10 per cent. even more on investments locally, shares, property mortgages, etc.
$144 25.45 85.65 $5) $30
***
www
To
$5,45
Godowns, etc.
H.K. & K. Wharis... 144 Providents
1.106 Shanghai Docks ...
T.100 Hongkawa
Cotton Milla
H.K. Docks
3.73
New Engineeringe
Ewos
S'hai. Ctous (old)...
T.83
154
T.10
Zong Sings
With the money market easy naturally the prices of the various investments will increase by leaps and bounds. Therefore, I can tee a very bright silver lining to the clouds in the near future. A colony T16,90 with a stable and well-established government like ours, where every- one has a pretty fair deal-a shelter for political refugees from neigh- bouring places, a harbour of world- renowned fame, where millions come and go, of all colours, races, and $12,65 religions-a Mecca of trade-with hundreds of princely merchantmen constantly coming and going-such a Colony can never languish. The sun never acts on the British Em-
it may be to your advantage. Į pire; where the British flag flies one The stock is quite strong, and if rarely find her sons with cold feet- you are in no hurry for cash, hold so let there be none among us! until next week. The rate went up to 820.20 yesterday, and should pars the rate you mention very soon. If you wait too long, how. ever, you might miss the market, as there are generally many ellers in the market prior to Chinese New Year. Don't buy | the new issue only.
EXCHANGE RATES.
(DRITTÉR WIRELESS SERVICE)
Paris New York Brussels..... Geneva Amsterdam Milan" Berlin Stockholm
CANTON'S TRADE. IMPORT AND EXPORT FIGURES.
Do. (new)...
Landa, Hotels and
Bulidinga
H.K. & B. Hotels **$12.70 H.K. Lands...] 200
T.181 Shanghai Lands
H.K. Realtys. Humphreys $14.25 Chinese Estates
Public Utilities
$65
$14
88,90
$28
**
26.80
$11
Dr. (now)... 854
C. Lighta (old)...... $10.75
Do. (NEW)......
H.K. Electrics TA $701
China Buses
܃ ܃ ܃ ܃ ܃ ܃
Swatow, Amoy & Furios Straits
Wednesday 18th,
8.81A= 10.00 AM
1.30 r w
Thursday, 16th,
8.30 A M
10.30 ▲ X
Noon
(Letters 100 p1W
ette
6.00
Kowloon P.O. Pxcels 4.30 P
| Rep,18th,9.00 A 3 flattere 10,00 1.8 PP.O:
, 17th, 5.00 PM ing 16th, 0.45 AM Cattern 10.80 4. 2)
Saturday, 18th,
www
Sunday, 19th,
$30
T.95
Hoibow, Pakkoi & Esiphong
Limchore ...
8.80 AM
T.74
***
144
Formosa via Swatow & Amoy
Bangkok vis Swatów wy
Canton Moru Kaljan
Swatow, Amoy & Frochow
Bu Bing
9.00 A M 9.00 A W 9.00 A M
T
1.78
T.51
Shanghai
79.40
Haruna Maru Antilochus
Straits
Monday, 20th.
10.30 AM 2:30 M
Tuesday, 31st, Kowloon P.O. Ite..
4.90 M
4.30 PM
G.P.O.
Reg.
etters
5.00 Y
6.00
Hangaang
5.00 F
"
5,00
+49
Tenyo Maru
g. 500 as Setters
$12,80
$18;
Straits, Ceylon, India, Mauritius, E. & 8.
Africa, Egypt & EUROPE is Mar.}] Anton or seilles--dae Marseilles, 19th February)
Foodbow
Japan, Honolulu, D.8.A.. Shangha
Canada, C. & S. America & EUROFE vis San Francisco–dan Ban Francisco, 18th Feb., & EUROPE via Siberia Manila, Australia and New Zealand via“) Thursday Taland-dua Thursday Jaland. 3rd February
Aki Māru
6:00 PM
Beg 8.00 Wednesday 22nd- Leiters 8.80 A M
Thursday, 28rd,
10+
3714
$10.90
MAN
Japan, Canada. USA, C &
8.1
Blog. 9.45 AM
America & EUROPE via Victoria, 3.0.--dus Victoria, B.C., 18th Feb.
Ixiom
Letter 10.80 A M
$18
Trataways
8114 $6.05 $71
Peak Trams (old),
Star Ferries
$19.90
20/19, 80
823
Macao do.
*
The following table, published by Canton paper shows the imports 80.30 and exports of the port on the 8th T.15 instant.
Sandakan Lights...
Telephones u
10/.
IMPORTS.
10/-
Do (prof.)
Tractions muni
སས་
2/.
Pícula.
Industrials
Flour
394.
RUGBY, Jan. 12.
Bugar
3,055
7.11
Caldbeck, (ord.)
123.91
Rice
4,234
4.67
Chinese cotton yarn
1,474
T.10 12)
Macgregor (pref.)
Canton Ices
34.015
Pieces,
223.135
Kwangtung 20-cent silver
$15.10 $10.90
$15.15
$18,18
12.03
piccer
..... 235,000
03.04
Foreign picce goods .......... 7,870
$7.80
Do (old)... 8111
(new)... $34
$7
Piculs.
20,395
18.145
Chinese piece goods
11
827
Copenhagen Oslo.
18.205
Beans
18.215
3,472 Gallons.
34.02.
Lubricating, oil
Helsingfors
1012 1832 37.225 108.25 375 818
Paper
6,787 Piculs.
229
EXPORTS.
821 €904 30.80 1
$28
Piculs.
$1,30
Baw silk
$2,10
38
45 2/16
1/6 29/32 1/11
Silk piece goods Camia Fire-crackers.
$18
120
112
128
Preserved ginger
28
1
-4775
***
9/07/32
Grass matting
14,300 Piculo.
*60*
41%
Tobacco leaf
95
Vienna Prague
Madrid Lisbon Athens Bucharest Rid Buenos Aires Bombay Shanghai
•Hong Kong
Yokohama mu Silver( spot) Silver (forward)
211 201
$31
85
Cementa (comb.)...$15.10
Do Ropes
China Bugars
Malabon Sugara...|| United Asbestos---||
Miscellaneous
++
Dairy Farms............ $20) Der A. Wings............ Amusements...... 828 Constructions (81.10 Lane Crawfords ........ 1215 Mackintosha.co
HI
Nanyang Tobacco... $4
res (old)......... 5101
Sinceres
Do (now)....... 891
B. Ind. G. Bonds... 81% HK. Gort. Loma .....]
$21
ANIM
$29
$104
..
*Superscribed correspondence only.
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