Money and Markets
THE HONG KONG DAILY PRESS, SATURDAY, FEBRUARY 8, - 1930.
HONG KONG AND
SHANGHAI BANK.
ANNUAL REPORT.
THE METAL MARKET. HONG KONG SHARES. Board of Directors of the Hong
LONDON REPORT.
Messrs. Rudolf Wolf and Kew, Lid., send us the following report from their London house, dated January 17-
Markets have been quiet but rather easier conditions have pre-
weiled generally and prices are all slightly lower as compared with a week ago,
BENJAMIN & POTTS' WEEKLY REPORT:
Messrs. Benjamin and Potts, local share and general brokers, in their weekly share report dated yesterday stato:-
|
DAILY SHARE QUOTATIONS.
The following is the report of the Kong and Shanghai Banking Cor poration, to be submitted at the ordinary yearly general meeting of shareholders, to be held at the $1,335 City Hall on Saturday, February 29, 2114
at 11.30 a.m. 2---
The Directors have now to submit
to you a general statement of the affairs of the Bank, and balance 98 sheet for the year ending December 31, 1929.
The net profits for the year, to- Since the resumption of basiness
gether with $3,397,812.80, balance after the Chinese New Year holi-brought forward from last account, days, a distinctly brighter tone has after paying all charges, deducting developed in the local share market; interest paid and due, and making dealings have been on
coumta and contingencies, amount to generous scale, and prices for both provision for bad and doubtful se investment and speculative stocks
$17,546,022.46. have further advanced.
ณ more
Banks-Hong Kong and Shang- hai Banks in sympathy with the continued fall in sterling exchange have recovered to a buying quote tion of $1,340 after sales at this rate. London advises that there are buyers at £114.
Tin has been comparatively steady but on the whole easier conditions have obtained and the price has de- clined £2.10 as compared with our last report. 'Sales in the East dur- ing the week have amounted to 1,573 tons; shipments thence up to the 13th instant were 3,762 tons, and for the month are still estimated at 9,000 to 9,500 tons. Premiums op Straits and Banka Tia are quoted at £1.10 and £8 (nom.) respectively. Marine and Fire Insurances. Business with consumers in this Unions were done at $379 to $380. country has been only moderate, Cantons were realised at $720. whilst on the Continent demand has China Fires continue in request at slackened again ad less activity is 2340. Hong Kong Fires have ap- reported from America, consumers preciated to 8835. Underwriters are being content to satisfy their recaquired for at 81.70. quirements from hand to mouth in view of the uncertainties which surround the immediate outlook. Reports have been current to the effect that more producers in the F..S., including Chinese interests, have come into line and are adopt ing a policy of restriction, whilst the market has in addition received a certain measure of support, but these influences have so far been în- sufficient to sustain prices, the whole situation with regard to regulation of output being too indefinite, and values have receded consequent on poor demand and accumulated stocks. There is little doubt that definite curtailment of production
Shipping Shell Transports are Dougins the turn higher at 90/10. Steamships are on offer at 8:54 and Steamboats at 827.
The Directors have transferred $5,000,000 at 2/-£800,000 from the silver reserve to the sterling re- serve. They recommend the trans- fer of $500,000 from the profit and loss account to the silver reserves Including these transfert the ro serve funds will stands as follows:
Sterling reserve....£6,500,000
Silver reserve.......$9,800,000 They also recommend writing off Bank Premises account the sum of $750,000.
After making these transfers, deducting the interim dividend of £3 per share, paid on August 6 last, viz. -£480,000 at 1/11- 4,981,621.62, and remuneration to Directors, there remains for appro- Docks, Wharves and Godowns. Priation 811,204,400.84, out of which the Directors recommend the pay- Kowloon Wharves have ruled firm meat of a final dividend of £3 per and transactions were made up to share, viz, £460,000 and a bonus of 8151. Whampoa. Docks have also £1 per share, viz., £180,000, amount- strengthen and can be placed at $32. ing in all to £640,000 which, at 1/7h, China Providents were bid up to the rate of the day, will absorb 852 but ended with sellers Now $7,878,093.08. The balance 83,387,- Engineerings were marked higher 477.76 to be carried to new profit at Tls 7.60. Bongkow Wharves are and loss account, The sterling sought for Tla 190 Shanghai equivalents of the assets And Docks are on offer at Tls. 123). liabilities are shown at 1/7), the Lands, Hotels and Buildings-rate ruling on the last day of the Hong Kong and Shanghai Hotels i necessary if the present balance were negotiated at $12.75 to $12.80 A sub-agency of the Bank was of supply and demand is to be re- and more are wanted at the former opened at Muar, Johore," Malay gulated and until there is real in- dication of definite agreement hav-rate. Hong Kong Lands have.nd States, on January 1, 1930. ing been reached by the majority vanced to 8861 buyers. Humphreya of producers, both in the FM.SEstates changed bands at $14. and elsewhere, prices may continue Realtys are firmer with sales reported to fall away until such time as the ed at 38. Shanghai Lands at Tis. position normally adjusts, itself, by: the suspension of unremunerative properties, or by a substantial re- vivl 'in consumption.
Options:-Double £14, Single £7. Opening. Closing.
Cash
185 have not 'moved.
year.
Directors.
Mr. J. A. Plummer has been elect-
HONG KONG STOCK -
EXCHANGE.
$1.70 $1.85
150.
$340 $835
11##1!
11
FOREIGN
MAILS.
SHAREBROKERS* ASSOCIATION.
RADIO NOTICES
Bellars
FRIDAY, Baleal FEBRUARY 7.
Buyers Boilers Baler Nominal
:
Banks...
$1,830
FL.K. Banks
$1,335
***
Do. (London) £16 Chartered Banks....
The Radio Ofice, where full information concerning all wirelsan nervioon may be obtained' at all times, is situated on the ground Boor of the P. & 1). Building in Des Vœur Road, next to the General Post Office,
"
Individuala and Ärma am recommended to register their telegraphia md-, -drváros at the-Radio Oños. No charge is made for this.
Mercantile Bks. “A”
£344
"Do.
£15
Bank of East Asia... | SFɛ]
INWARD. MAILS.
Ingurances
$780
Canton Ins........
$715
KON
Pu
Underwriter
$1.70
North China
T160
$378
Union Ins.....an
$377
MAKILA
Oldekerk
8th Feb,
3.800 Yangtaze Ins..........................
$60
China Firesto
8310
U.S.4. (San Francisco, 1 th January)
BOROTULU, Japan à ́Shazoka
Pres. Harrison-
Sth Feb
H.K. Firea
$825
bot
SHINOVA: & Swarow
Sunning
Bih Feb.
SHANGHA!
Coblens
1 Feb
BIZ & STRA JE
Sencar
9t: Feb,
MAXIL
Pren. Grant
9th Feb.
Shirala
10th Feb
Luxor via NEGARAVA
(Papers on y
London, 9th January)
Butzing
-1 th Feb
U.S.A. (Sm Francisco, 17th January},
HONOLULU, JAPAN & SuazoHai
AUSTRÁLJA & Manila.
JAPAN & SHANDS A
Evrope via SUKI (Letters de papers, Lon-)
don, 16th Jan,, & parcela, 9th Jan, [7.H.A. (Seattle, 25th January), Jarani
SHANGRA
SHANGHAI
U.NA. (San Francisco, $2nd January},"
Honolulu, Jiran & Bluäxobai JAPAN & SHANGHAI
JAPAK
J
Proa. Lincoln Alipore
10th Feb.
*11th Feb.
Changte
11th Feb
Gani, Maringer
11th Feb
Kolyan
14th Feb
Pria Oleveland
14th Feb.
Dar malo....
14th b
Taiyo Mary
17th Feb
Kilano Mar Hawaii Maru
gi-t Feb.
14th Feb
Shipping
Douglasca......€24
Steamboatssvarten
Indos (pret.).......
3251
827
$43
$70
Do. (def.)...***
96/10 Shell Transporta
03/B
$23}
Water-boats
Mining
Benquets.
54/- Kailans
T13.60 Langkats (comb.) ........ T.7) Da (single) ***
T1.30 Explorations...
T.5
$13
21/-
$150
$33
$151
140
17.60 T.198
404
$16.85 $17
T.80
Chairman for the year 1930, and $1270 Mr. C. G. S. Mackie has been clect. ed Deputy Chairman.
Shanghai Loans
Raubs.....
Tronoh Mines
Docks, Wharves,
Godowns, etc
H.K. & K. Wharfa.... Providents............
·H.K. Docka **** Shanghai Docks | New Engineering Hongkows
Cotton Mills
$14
20/-
$5.50
#1!!!!!
5!
1889
+
$150
***
$30 T.190 T.71
%%
317
Ewo
T16.80
T.17
7.79
S'hai. Cton (old)...
Do. (new)
ee
T.10 Zoong Singa ......
T.83 T.55 T.0
8121
368
$8.65
814
198
Lands, Hotels and }"
·Buildings
H.K. & S. Hotels...$13.60 519:60 $12.75 H.K. Lande
T.195 Shanghai Lands...
H.K. Healtys... $81.
Chinese Estates
During the year Mr. Neilage S. Public Utilities.-Hong Kong Electrics have been the medium of a Brown, Mr. T. G. Weall and Mr. fair turnover at 872 to $72. Hong C. G. S. Mackic resigned their seats Kong Trans were dealt in large on leaving the Colony and Mr. J. Star P. Warren, Mr. T. H. R. Shaw, quantities up to 819.40. Ferries at 973 have not moved. Mr. M. T. Johnson and. Mr. T. E. 319.35 8194 19.35/40 China Lights continue in demand Pearce were invited to join the nt 823 cum Rights. The fully paid Board. Mr. M. T. Johnson resign
ed his sent on the return to the shares have buyers at 213.70 and the 815 nominal. Telephones are en- new shares (81 paid up) are quoted Colony of Mr. C. G. B. Mackie who $19.70
was invited to rejoin the Board. quired for at 89.63 and Sandakan These appointments require con- Lights at 831
Armation at this meeting,
Miscellaneous.-A fair amount of
£173:15 £174.5.0. (nom.) Three months £179.00 £177,7.0
Turnover for the week 3,575 tona. Copper has been irregular. After Some firmness earlier in the week, when up to £re was paid for Cash and £69.10 for three months, values business was done in Green Island have reacted and the price shows Cements (Combined) at the improved
decline of 7/6d. for cash and 1.2.6 for three months as compar- Frice of 815.70, but the market has since eased off to $15.40 buyers: ed with our last report. The poni- tion has weakened under, the in Hong Kong Ropes were placed at fluence of the unfavourable Ameri-7 Dairy Farms were put through can figures, of which we append at $23 and 823.10. Watsons show a further improvement with sales
Mr.. WL Pattenden, Mr. A. H. Compton and Mr. B. D. F. Beith retire in rotation, but being eligible cordingly. The Directors very much for re-election, offer themselves sc-
regret to have to record the death
har
last February of their colleague Mr.
Auditors.
***
$724 *8x3 83
T.161
89.65
10/
19/6
...
+
The accounts have been audited
AMERICAN MARKETS.
Tramways case 819.35| 819.45| $19.45
10
ΔΙΟΥ
STELITE
OUTWARD MAILS,
-REGISTERED and PARCEL MAILS are closed 15 minutes
darlier than the time giván below ‘unlem otherwise stated, and where maila are advertised to close at or before ą m.in. registered and parcel mails are closed at 5 pin. on the previous day.
-Humphreya
***$14.35
Public Utilities
For
Fra
Date & Truck
B'rita, Caylon, India, Mauritius, E. & S.;
Africa, Adon, Egypt & Europe vis Murales dre Marsailles, 9th March
Hakusan Maru
1'log.
Saturday, 8th,
0.1.0.
8.45 C
[Letters 23) A
--
Formorn...
Japan
T
Straits and Calcutta
Olderkerk Colebes Mars
Taimo....
9.00 &
Par. ... Le tors
Noon
Maule
Pree. Harrison
aeg.
Shanghai, Dalay & "EUROPE via Siberia, Liangchowe
$11
Peak Trama (old)... $11
$6.00
Dr. (new).
$73
Star Ferries.........
"
873
Swatow, Amoy & Formans.
C. Light (old)...... $19,55
19.80, 90
Bangkok ris SG OW
815
Do. (new)......
314.80
De. (comb). 821
#72}
HK. Electrica ......
$721
372)
3wataw....
Macao do.
Straita
Sandakan Lights
Telephones
$9.6)
Japan, Honolula, *UBA., *Osande, U. &. *S. America, & EUHOPE is San Fran
Bellerophon
Fres. Grani
Pres. Grant Antung..
Hozan Maris Awangchow
Hydrangea
10,30 AM
1.00 Fi
5.00
5.00
tess8.00 ..... Santay,
9th,
9.00 AM
Monday, 10th,
2:30 PM 7.30 J
4.16
Parcele 3,00 ri Logos
eltora
0,00
leg. 5.00 P
་་་
...Letters 6.00
•
6,007 M
Tuse lay, 11th, Kowicon:P.O. Begi 1,00 FM Letters
10J P = Q.P.O.
::
T11
T.11
$15.60
7.36
some particulars, showing a very heavy increase in the stocks, both reported at $12, Lane Crawfords by Mr. C. Bernard Brown, A.CA
were realised again at $3.10 but thend Mr. John Fleming, C.A., who $15.50 of Refined and Blister. The near
be supported demand has since slackened. Raub offer themselves for re-election. position continues and the backwardation has been have buyers at $14. Benguets can maintained, but apart from the be placed at 351. weaker position disclosed by the statistics, the market shows little "material change. Demand on the part of consumers is by no means good and in view of the compara- tively high price of Electrolytic and
Cotton Mill-Ewos bave been the market at all rates taken from his 16 to Tis. 17 closing with Shanghai buyers at TIs. 17.10. Cotton (Old) have advanced to Tia. 87.
the uncertain industrial outlook, Rubbers-The following are the future of this market is still not latest cabled quotations received regarded with any degree of con-trom Shaoghai:-
fidence. Nevertheless, the control exercised in America and the sup- port which the Standard market. receives may, if persisted in, for a time sustain values
Options:-Double £6, Single £3.
Opening. Closing. Cash
£71.10.0 £71. 2.0 Three months... £69.10.0 £68.12.0
Turnover for the week 3,050 tons.,
Novem- Decem- ber ber Tons fons
Anglo-Javas Anglo-Dutch Batu Anams
[United Press.]
the close of banking hours today || $22.00
Canton
China Buses
Tractions
Do.. (pref.)
Tadustrials
Caldbeek, ford.)
Macgregor (prof.)| Canton Ices Cements (comb.).....
Do (old)... Do. (new)...
Ropes arba
China Sugars......... Malabon Bugars
827
United Asbestos.
Miscellaneous
Dairy Farms......and $23
Der A. Wings....
Amusebionta 2...) 328)
cisco-due San Francisco, 5th Mar.
Nhangkai “& "EUROPE vin Siberia Amoy
Ligon, "Braits, Ceylon, India, Mauritius, Fast and South Africa, Aden,
$15:86 $15.00
8111
332
$7.60
829
Swatow..
*་
Amer
"And
Egypt & EUROPE via Marsilica-—-
elno Marseilles, 14th March
Fort Bayard, Hoikow, Pakhoi & Haiphong | Tonkin
Swatow, Amoy & Foochow ..
Shanghai, Japan, Canada, U.S.A., C. &B. America & EUHOPE vis Van- conver, B.C.due Tanoarer, B.C., 1st Mar, & Europe vis Siberia.
General Malainger
2.g. |Letters
:1.43 FM
2.307 M
1.81 M
•Hat Ning....
Foo Shing
由申。
་་་་
Kutsang
*5.00 PM
Parcel
5.00 vm
Emp, of Busia
T
H.K. Govt. Loan... $105
LOCAL AND REGULAR OUTWAED MAILS,
18:
NEW YORK, Feb. L
Demand sterling was quoted at
at $4.86, unchanged compared with $0.80 yesterday. U.S. bar silver closed at 433 compared to 43 yesterday.
829
31:30 Constructions
81.20
*3langbai & *Japan
Asheria Mora
Buyers.
.Tls. 7.30
3,80
The price of domestic copper te. mained unchanged at 18 cente, a pound.
$3
$18
Lane Crawfords Mackintoshs** Nanyang Tobacco...
$3
„Straita'& Valentia
Borang
34
Amay
Taiyuan
་
1m 19th 9.15 ▲ ́M Le tere 10,10 à M
Wedaad y, 18th,
Parcels Leita.s
30
Noon
1,00 PM -3.30 PM
$12
Sinceres (ald)...
$10
0.55
- Rubber.
Do. (now) .....4] $91.
Thursday, 13th,
Chemora Consolidateds
1.20
2.70
Kroowoeks
1.90
The rubber market closed firm and somewhat lower with the fol- lowing quotations:-
$112
Watsons ............
312
Boihow & Pakboi and Ha'phong
Ol.englu
Wm. Powells.....
B. Ind. G. Bonda... 614%
Repahs
1.30
Mouth
Jan 31 Feb. 1
pretz
Tanah Merahs
1.10
February
15.00
14.90
Tebongs Ziangbea
1.70
March
15.40
15.30
6.35
April
13.50
Juno
Production Exports
145,000 138,000 38,000 35,000 Domestic deliveries 60,000 58,000, Refined stocks ...... 127,000 171,000 Blister stocks...... 258,000 .205,000
Lead, after being a little firmer
meet with a fair amount of reais- tance at current levels, but the steadiness must be ascribed more to the fact that the present low price offers little incentive to sellera
rather than to any improvement in
demand on the' part of consumers, carlier in the week, has given way which remains regrettably dull and the price shows practically zo change as compared with our last Reports from the Continent are not report. The market has presented too favourable, but here also sellers. a very dull appearance for, whilst are reserved and stocks are in firm hands. It seems not unlikely that
on the one hand there has been very the present low price, which must be little disposition to press sales, the future contains for the time being unrempnerative to many producers, nothing which it might be said must gradually affect production and and result in some restriction of confidence should inspiro stimulate any real activity amongst output, whereby the balance of sup buying interests, and the immediate ply and demand will begin to outlook offers little prospect of any to normally adjust itself and bring very material change.
Options:-Double £6, Single £3.
Opening Closing.
January February March April
£21.11.3 £21.10.0 £21.12.6 £21.10.0 £21.126 £21,10.0 £21.12.6 £21.11.3
about 3. reasonable recovery, in price. Moreover, demand on the part of coBaumera is due for moderate revival.
In the U.S.A.,. quiet conditions have prevailed, and prices have in- efined to weaken by reason of the quiet demand which is just now be **Turnover for the week 1,700 tons.ing experienced, bath for home
trade and export.
Spelter-Fluctuations have been narrow: after displaying an easier Options-Double £2, Single £1. tendency values have slightly hard January .... (210, 7.6 £19, 7.6 ened and the price shows very little Tebruary change as compared with our last March report. The market continues to April .
(Continued on next Column:)<
219.12.6 £10.12.6 £18:16.3 ̄ ̄ ̄ ̄£19.16:3")
£20. 0.0 £20. 0.0 -Turnover for the week 4,025 tôrís.
Wheat. Wheat (Chicago) No. 620 herd higher, with the following quota- which is accepted as par closed time
Jan. 31 Feb. 1
Month March
May
Bugar.
17.02 17.15
The sugar market closed lower with the following quotations :—.
Month
Jan, a1 Feb, 1
May
July August September October November
15.70.
13.40 15,00
15.00
15.90
16.10
16.10.
WEEK DAYS, SUNDAYE & HOLIDAYS–
18.30 10.30
.10.50 16.50
FOR
Увох
18.70 16,70
From
10.80
16.60.
G.P.C,
Frox 0.2.0."
December
17.00
17.00
SZIUNGWAN BRANCH P.0.
JBoy.
1.101 1.17
Uhaong Shing
1.20) 1.22
Cotton.
July
The cotton market (Chicago)
1.291 1.24 Macao & Tringhau
$ 7.15 am, &} { 7.30a.m.
1.15 p.m.
**
Amor
Yuensang
Lonly
closed higher with the following Kangmoon (except Saturdays) 3.00p.m. quotations: Month
Kaukong (except Saturday Jan. 31 Feb. 1 Spots
10,35 16,50
Father (By Train) March
16.22 16.37 May
16,40 16:39 July
∙16.70 14.8% October
18.00 17.02 December
6.00p.m. 6.00 p.m.
6.00 p.m.
Manila, Bendakan, Australia & New Zealand via Thursday Island-das Thursday Igland, lat March...
Ohangta
0.00 p.m.
Swatow
Bangsang
6.00 M
4.16 m.
Tai O
Tai Po
Shamchún
0.00
7.15 1.3. 0.00 €.
Friday,
***
ག་
(9:00 am.
1. r
Obeungchow
Sales, tons
17,200 $,000
Aberdeen
Spots
Two Two
Starloy..
1,00 p.2.
8:30 D
Sandakan
March
1.82
1.80
Antan, Pingihan, Sautin,
2.00 p.m. 8:00
12.00 p.m. (12,30 pm
·& 4.30 pad. Baturdays 1:00 pm & 4.30 pán: 8.30.20 1.00 pm
3.00 2.
11.0.
21.00 0.12.
1 & 4.80 p.m.
Straita, Ceylan, India, Mauritius, E.& #3. Africa, gypt & EUROPE via Mar.
Billede Marseilles, 23rd March....
Kitano Maru
Kowloon P.Ú. Reg.
480
Le 22nd,9.00 4 M.
...CAP.O.
Kog. 8.45 AN Letters 8.30 A M
May July September December January
1:02
1:90
Shatin, Shataukok · and
2,00 pm.
10,30 m
-2.01 1.88
Bhoungehni
2.00 2.00 2.144 2.12 2.182.14
Balkung
4.30 p.m.
430 pin.
Kapitan, Shokki & Taiping Į
7:00 pm
7.00p.m.
(Famin)
South Africa and South American Portal
vis Exigon and Bingapore,
*Superscribed correspondence only.
Monday, 24th,
Mauiang
1.80
Tuesday, 25th,
Portal
Harcail Mars
Frox SERUNGWAN {BRANCH P.0.j
|(7.15 nöm. &} $ 7.30 4.m.
6.00 p.m.
3 Bunday 7.00 p.m.
11.80 p...
7.16.& (7.30 am, & 5,00 p.m. 7.00p.m.
Sundays (5 pm. only) | 7.00 p/m.
only 17 (716. & £7.30 ximi &
1.16 p.td. Sundays 8.15.00 only 5.00 p.
1:30 p Sundays 8.30.11.
Japan & Victoria, BC-due Victoria,1
B.O., 11th March
Jayan, Onzada, USA, C. 38. America)
& FUROPE via Victoria, BQem - dus Victoria, B,U, 7th March.
Phanghai and EUROPE via Siberia Swalow ...
-Pres. Line:in.
1.00 PM
Kowloon PO. Parcels 4,30 w
g.15th, 9.00
G.P.O. (Paro14th, 5.00
Reg.1515 9:45 AM Getters. 10,80 ▲ M
Saturday, 15th,
.10.03 & M
3.00 **
Monday, 17th Parcels ||Rogo: 4.15 pm
Leitern
Pres. Lincoln...stiem
5.00 r
· SCO P∙M.
6,00
5,00
5.00
Parcels 5,00
Reg.,18th,9.45 AM
||Loitėms ́10 30 AM Tuesday, 18th,
8.30 AM
Friday, 14th,
Bwator, Amoy and Foochow
Africa, Aden, Egypt & EUROPE vis Marseilles-dus Marseilles, 751h March
Batching...
Birita, Ceylon, India, Mauritius, E. & B..
Sarmala
|Leitor" 10.00 aas
Tyndarens