Money
and Markets
CANTON TRADE NOTES.
Preserved meats have been cheap since the Chinese New Year, as demand has fallen away and sup- plies are abundant.
The cotton yarn market is steady and prices are firm. There are in quiries from merchants of Fatshan and the North River districts Stocks are not abundant.
Demand from aboard for wolfram ore has been exceedingly brisk and the price has risen by nearly six dollars per pical. The current price is H.K.801
per picul.
Soap manufacturers are making no profits, large importation of for eign soap having hit the locally. made article. Soap materials come from abroad and prices have risen iu consequence of the high exchange rate.
•
Match manufacturers are on the They com- verge of bankruptcy. plain that their business has bem, practically killed by the competi- tion of Swedish and Japanese matches. Recently, the Man Ming Factory, one of the largest and oldest match factories in Canton closed down. The existing factories have had to reduce their staffs and over eighty workers have been dis- missed since Chinese New Year.
THE HONG KONG DAILY PRESS, WEDNESDAY, FEBRUARY 12, 1930.
NEW YORK STUCK
QUOTATIONS.
Market strong.
Business done, 4,381,470 shareL.
Adams Express...
DAILY SHARE QUOTATIONS.
New York, Feb. 5.
HONG KONG STOCK EXCHANGE.
SHAREBROKERS” ASSOCIATION.
Fob, Feb.
TUESDAY.
5.
Sellers Boysra
20 31
Bale Nominal FEBRUARY 11,
Buyers Sellers
Hana Noniia)
M
74 275 276)
43
451
01
· 61
Banks
... 181
183)
LAND INVESTMENT Allied Chemical & Dyo...
CO., LTD.
THE GLOUCESTER BUILD="
ING ENTERPRISE.
דיי
DIFFICULTY WITH FOUNDA. TIONS OVERCOME.
The Forty-first annual meeting of the Hong Kong Land Investment Co., Ltd., took place yesterday at the Board Room of Messrs. Jardine, Matheson & Co., Ltd. Mr. E. D. F. Beith occupied the chair, and he was supported by Sir Robert Ho Tung, Messrs. T. E.. Pearce, A. H. White, J. E. Joseph and H. H. E. Priestley (Directors), and L. ` S. Grecahill (Secretary).
Others present were Messrs. B. W. Tapo, E. G. Smith, O. F. Ribeiro, H. C. Rodger, H. E. Lennox, F Austin, A. C. Kenedy, D. L. New. bigging, A. H. Chambers, C. L. Oliphant, J. A. Kendrew, P. S. Cassidy, R. E. Coxon, A. Piercy, K. Stuart Smith, B. C. Randall, and T. R. Macdonald.
THE CHAIRMAN'S SPEECH.
Addressing the meeting the Chair
man said:
From the Profit and Loss Account The groundnut oil market is very you will have noticed that although dull the price being low and arour rents have increased no sales of rivals short. The price of wood-tar property have been effected during oil has risen as supplies from the the year under review owing to the West River have been very limited inactive condition of the property Tea-seed oil market. Total receipts however as owing to the war. shows healthy demand and the price compared with those of 1928 which has gone up. The price of bean oil included a sum of 818,233 repre- is also high as both arrivals and senting profit on the sale of pro- stocks are short. The latest quote-perty are reduced by less than tions for groundnut oil is 825,40 83,000 which I trust will be.com- per picul, tes seed oil 836, wood-tarsidered by you a satisfactory result. oil 845.50 and bean oil $26.60.
Allied Power & Light... Allis-Chalmers ...
American Can...*
American Rolling Mill
**
American Smelting American Tal, & Tel. American Tobacco “B American Waterworks Anaconda Copper Atlantic Refining Baltimore & Ohio Bethlehem Stool Calumet & Hocla..... Canadian Paciila Radway Chesapeaks Corporation Chicago Northwestern Chicago Rock Island Chrysler
Cities Service, Commen Columbia Gas & Electric Columbia Graphaphone
Commercial Sölventa ....... Consolidated Gas of N. Y. Continental Oil.... Com F Products... Coty Incorporated" Curtiss Wright, Common
***
Davison Chemical Du Font de Nemours ... Eastman Kodak Company, Electric Bond & Share Erie Bailroad Fox Film General Electria (Now) General Food ...
K
General MotorE ... General Railway Signal Gold Dust
Goodrich Rubber Goodyear Tire & Rubber
Great
Northern Certificates International Cement International Comb. Eng. International Harventer
International Nickel International Printers Ink International Prod. (Com.) International Tel & Tel. Johns Manville... Bonecott Copper Lambert Company Lehigh Valley....
& Myers "B" was hauts Garden Missouri Pacife (Com.) Montgomery Ward
90 011 $1,350
... 781 73
...220 231
281 100
ד לך
*** 9830 899
117 118
100 102
*** 301 81 ... 199† 2001
71 72
BO 881
.. Vaq. 1101
401 413
201
011
106
281 201
82 83
....119 114)
⠀⠀
ILK Banks ......$1,330
Do. (London)
Chartered Banks...
Mercantile B. "A"
Do...
£118
£17+
Bank of East Asia.. | $98)
Insurances
$1,70
#720 | Canton Ing. ...................... Underwriters
6718
$1.75
T160
North Chins........................
$379 $3908376
Union Ins
$379
M.660
Yangtan Ins........
China Fires******** $825
$390
$340
$840
HK. Fires..
Shipping
FIFA
T180
921
98 081
$951
Douglases
324
826
Steamboats...............
***
가
$43
Indos (prof).............
831
$70
Do. (def.)
128 1291
-97/6·
Shell Transports ...
93/6
102 1931
$834
Water-boats .........
823)
944 199
581 801
Mining ►
81+ 35
742.79
851
Benquats...
-541:
92 90
T1360 Langkats (comb.)
1:71
Do. (single) *
T.5
Shanghai Loans ........
$131
Rauba *****
$14
4
$1/-
Tronoh Mines now!
20/-
A
671 67
事
Docks, Wharves,
857 895 ... Ung.. 62) ... Ung. Unq.
67
68
*** 1441.148..
Nevada Consolidated Copper ... New York Central Northern Pacific Railway Pacific Lighting The accounts call for little com-Packard Sloter Car
ment
of
Paramount Famous Lasky Fennsylvania Railway........ Fennroad Corporation... Phillips Petroleum
Ecare Ecoback.. Dalcu
18
T150 Explorations..........
11AR
Godowns, sto.
H.K. & K. Wharfa... $157
Providents.............
$5.45 | $5,50 $3.50
HK Docks
Shanghai Dock...
Hongkews
Now Engineeringe
Cotton Hills
To
$30
7.120
FOREIGN MAILS.
RADIO NOTICES
11
The Radio Ofice, where full information concerning ali wiralss porvicos may be obtainal at all times, is situated on the ground flour of the P. & 0. Building in Des Vœux Road, next to the General Port Odizo.
Individuals and firms wie recommended to register their telegraphic ad-
» dreven at the Radio Office. No charge is ads for this,
“It is notified for information that wipulate messages to Bangkok will as from 10th February, 1930 be exchanged direct instead of via Hanci hitherto,
From
-Australia & Manila
BAJGOR
་* ༢
Smangkai & Swatov
INWARD MAILS,
JAPAN, SHANGHAI & EUROPE visT
Siberis (London, 24th January) MANIA
20
Eurora via Fuzz (Letters & papers, Lon-
don, 18th Jan., di parcele, 9th Jan, USA. (Beattle, 25th January), Japan)
HHANGHAI
U.8.4. (San Francisco, 23rd January),}
HONOLULU, JAYAN & ŠMANGHAI JAPAN & SHANGHAI JAPAX
STRAITS
.Pxx
Dr
Changto Forthos
18th Feb
19th Feb.
Sintiang
11th Feb.
Farmala
14th F.b
Emp, of Australia!
14th Feb
Kalyan
14th Feb.
Pres.- Cleveland“.. Yang
14th Feb
16th Feb
Taiyo Mars
17th Feb
Kitano Maru
21 Feb,
Hawai's Maru
24th Fob.
OUTWARD MAILS.
REGISTERED and PARCEL“MAILS are closed 15 minutes earlier than the time given below unless otherwise stated, and where mails aro advertised to close at or before 2'a.m. registered and parcel mails are closed at 5 p.in. on the previous day,
}
For
Hoihow & Haiphong
Shanghal, Japan, Canada, U.8.A., C. &B America & 'EUROPE via Van-
conver, B.C.dce Vancouver, B.C.,
1st Mar, & Europe via Siberia
#161
*Straits, Bangoon and Culentta
S'hai. Ctons (old).......!
Tan!
Do. (DAW)...
T.83
Sernità & Calentis
Zoong Singe
T10.10
Lands, Hotels and
Amoy
Baigon...
Foochow via Swatow
Bulidings
HK & S. Hotels...812.53 $12.70) $12.70
$158
$5.40 151 $11.45
$39
T.122
104 1031
75 Unq
T7.80 1.196
105 103
12 12
90 001
41 461
$16.70
304 30 181 183
861 871
1.86
37
66 601 141 141 391 34
181+
***
132 1364 639 G 97 351
23.
3671
$9.85
8131 $19.60 67/3/1
H. Lands
**** BOT
T.196
Shanghai Landa
E.K. Realtys
289
814
Humphreys
198
89 80
... 01 631
118 1211 63 હતું.
$18.80 $19.20 | 10.30||2:
8114 $6.05
$3 33
$721
531 54 01 02 781 781
$19.85 $15
461
01 91.
$724
$73
$23
45) 471 Unq. ·71
841
99.05
183 184
65
The amount advanced on mort- Trado conditions. in Fatshan, Samshui, Sainam and other éities gages has been reduced by 81,207,000 on the West River have been bad. odd whilst the amount invested in
Publie Berrics of N. J. They used to do big business with property shows on increase
Eadio Corporation Wuchow, Nanning, Kweilin, Liu-81,500,000 odd. This is mainly a Reading Railwa chow and other cities in Kwangsi counted for firstly, by purchase or
Reynolds Tobacco B” but since the beginning of the pre-resumption of various small re- went war in Kwangsi, business hassidential and other properties which shell
Four directors considered advan-Simmons Company been held up as there is no com-
Calfornia Edison munication with any place above tageous to acquire and, secondly, Southern Pacific Railway. n. 1931 1221 Tenghsien. Canton firms declare by construction work on the Hong Southern Standard
Ga & Electric that they have collected nothing, Kong Hotel old site (now called
Standard of Now Joney Standard Oil of New York from Kwangi since the trouble!" Gloucester Building") and
some Chinese tenement houses in the
Texas Corporation started.
Eastern district.......
Texas Gulf Sulphur Timken Boiler
Boller Bearing Trans America. Union Carbide & Carbon Union Pacifs Railway... United Aircraft & Transport United Aircraft Dry Docks... U.S. Realty & Improvement 69 `68) | T.16) U.S. 3tcel
85 19/6
METALS.
Messrs. Pentreath & Co. have forwarded us the following letter dated January 16, received from Hornby, Hemelryk & Co., Liver pool:-
COPPER..
Close yesterday:-Cash, £72.2.6; last week, £1.12.6.
Close yesterday:-Three months, £69.5.0; last week, £89.15.0.
Close yesterday:-New York: March 10.25c; last week, 18.25c.
The market has remained fairly steady during the past week with eath metal still in demand, mainly
on
י
A Reservo Account. As regards the allocation of the balance available for distribution your directors advocate opening a reserve account called Special Re pairs and Renewals Account and crediting thereto sum of 825,000 to meet any special expenditure that anim may become necessary to the pro-Westinghouse R. & M. (Com)... 164 166 perties in the way of rebuilding, or improving them renewing brought about by unforeseem eir- and not applicable to cumstances capital account as the money so ex- peaded' thereon cannot be regarded as prolonging the life of the par- ticular building.
The necessity and prudence of this step is shown by the large
for American account, and a pre-amount which it has been found mium of £3 per ton was seen yes necessary to expend during the cur- terday for strictly cash metal. rent year under the heading of re-
Pile Driving Finished,
The ruling premium for cash is pairs to house property, ie, a sum expected to attract supplies of of $53,714:65 against 938,436.19 in rough metal from Germany, which 1829. would ease the prompt position. temporarily, although it is consi-As regards the anticipated pro- dered that the American require: gress in the erection of Gloucester ments extend well into February | Building' as outlined to you at datez
our last annual meeting this 1 re- The American statistics, just pub-gret to say has not been fulfilled lished; for December are again very owing to unforeseen difficulties in unfavourable, and compare with the preparation of the new founda
tions. November figures as follows:-
· Short
The pile driving, I am glad to Toas
say, as I expect also are the oc Refined output 7,173 (dec.) cupants of all adjacent, buildings, Domestic deliveries 10,829 ............. 2,227 Exports Refned stocks 1/1/30... 44,401 (ine.) Blister stocks 8,157
Blister output ...... 3,780 (dec.) Confidence amongst consumers is naturally lacking, but producers are apparently determined to main-
is now almost completed and the erection of the steel frame work will commence very shortly. It is hoped that a portion of the building will be revenue producing in about a year's time.
Speaking generally there are signs of improvement at the present time in the property market.
tain the present level of prices, I now beg to propose the adoption even if it means a still further re of the report and accounts as pre- striction of output.
Our New York correspondents sented and, when this has been duly cabled last night that the market seconded, I shall be pleased to on- is neglected. They believe that pro-swer to the best of my ability any ducers will reduce the price of questions shareholders may wish to Electrolitic in the late Spring. Domestic interests consider futures prices too low.
TIN.
BS."
་
OTHER BUSINESS.
The appointment of Messra. A. H. White and T. E. Pearce to the Board of Directors was confirmed. Close yesterday: Cash, £175.12.6;| Messrs, A. H. Compton and J. E. Jast week, £177.5.0.
Joseph were also re-elected to the Close yesterday-Three months, Beard. £178.17.6; last week, £180.10.0
Mosers. Percy Smith, Seth and Close YesterdayNew York: Fleming and Messrs. Linstead and March 38.00. last week 30.25c. Davis, were re-appointed auditors,
The market has shown somewhat at $1,250 per annum. irregular movements at times, but trading has been without special feature and generally fairly quiet, although it appears evident that. forts are being made to keep prices in check and at a low level pending more general adherence to the restriction schemes of the Tin Producre Association. In this con nection, cessation of operations in Malay was on more exténaive scale last Sunday than was the case
week carlier. (Continued at foot of next column),
Stooks in the United Kingdom warehouses continue to increase and at the end of last week amounted to 13,581 tons, but the market has now become accustomed to this position, which, after all, is comparatively no worse than the refined stocks of Copper in the U.SA.
Our New York correspondents cabled last night that the undertone of the market is strong.
EXCHANGE RATES.
[BRITISH WIRELESS SERVICE}-
Berlin
Chiness Estates
Public Utilities
Tramways
Peak Trama (old)... 311)
Dr.
Star Ferries
C. Lights (old)...... 320.
Do. (comb.)..
Macao do.
(new)... $54
$14.35
DATE & TIME
New Mathilda
Emp, of Russia
Reg.
(Wednesday, 13th, 50 A M
9.15 A
Shirala...
Letters
Noon 1,00 2 M
Roland
F-resis Justters
1,00 = N
9.30 M.,
3.90 P
Shanghai, Japan & "EUROPE via Siberis Porthos
Letters 10,00 M.
Nood
5.01 M
Taiyuan
144
Watahing
Chip Shing
Thursday, 13th,
8,30 & M
Amoy & mom via *wałow Hoihon Pliei mà Eiphong
Formor
ovator...
Rwatow, Amoy and Foochow
Deli Maru
Changt Bekko Maru Bydrangea
Haiphong
$19.95 $19.95
Buigen +++
$73
B::::
Do. (new) $15.
$23.60 $23.80
H.K. Electrica......
872)
$721
|
Sandakan Lights...
Telephones.....
$9.60
$9.65
China Buses
10/-
Tractions A
Do. (pref:)
Industrials
Caldbeck, lord.). Macgregor (pref.) Canton Icen
Cements (comb.)...
Do (old) Do. (now)... Ropes inc China Bugars Malabon Sugare
$15.co/65
$114
8.30 AM 4.30
2.80 M
Friday.
Hatching...
14th, 101 P.M
Canton
Olara Jebien
Siraita, Ceylon. India, Mauritiur, F. B.
Africa Adeo, Egypt & EUROPE Farmala via Marseilles-dão Matzeilles, 18th March
1812 # 9.30
Fowloon FU. Parcels
4.30P
eg 15th, 9.00 AM
Leitere 10:00 A M G.P.Q.
Par 14th. 5.00, teg 15th,9.45 à
miter 10.80 a. 18
Saturday, 15th,
10.00 AM
Japan & Victoria, B.C.de Victoria,
B.O., 11th March
Amoy
Shat ghai & Dalny
Swaton, Amoy & Formosa
Bangkok vin Swa' OW, '***
Jayan, Chanda, 1,9.A., C. & 8. America & FUROPE via Victoris, BÜ- das Victoria, B.C., 7th March
-bangbai and XUHOPE via Siberia Formia...
Swalow .. Amoy
T.11
7.11
$2
$151
$15
PARIS, Feb. 10,
Paris New York Brussels
124.17.
8415 $7.60
4.86 5/16
BI
34,905
827
Geneva
23.185
85
United Asbestos
+
Amsterdam
12.12
Milan
02.01
Miscellaneons
20.365
Stockholm
18.135
22.80 Dairy Farms.
503
Copenhagen
18.178
$0.80
***
Oslo
18.21
$28
#2#}
$281
Vienna... Prague Helsingfors Madrid Lisbon Athens
34.55
1848
$3
183
$18
37.325
$12
Sinceres (old).
Nanyang Tobacco...
$4
Straits and Calcutta
8101
Awistow, Amey & Foochow
891
Swatow....
Bucharest
8111
Watsons
Wm. Powells
$2.
Rio
54
60%
Buenos Aires Bombay
431
1/6 29/32
1/114
#1/6
2/01
20 5/16 201
Shanghai Hong Kong
Yokohama Silver (spot) Silver (forward)
108.45
375
B18
WORKMEN'S LUCK IN GIANT LOTTERY.
2430,000 PRIZE WON, BY A SYNDICATE.
B1% prem.
Der A. Wings.................. Amusements «..................... $1.30 Constructions 81.20
Lane Crawfords ...) $3 Mackintoshs....
(new)
B. Ind. 0.8 Bonds..... 60%
HK. Govt. Loan... $105
NEW YORK STOCK - EXCHA' 'GE.
[United Press
NEW YORK, Feb. 3. After a period of technical reac- tion on the New York Stock Ex change to-day, the market rallied throughout most groups, says the
The first prize of £436,000 in the great Spanish Christmas daily review of the Dow Jones Fin- lottery, the draw for which took uncial News Agency. place at Madrid recently, won by ticket No. 53453, which is held by lagged, giving the general appear The paca quickened and tickers a Saragones syndicate.
The subscribers to this winning ance which the market bore before ticket are mostly poor workmen and labourers who clubbed together the recent big break in prices. und contributed as much as they could afford.
The weak feature to-day was Simmons, which was hammered by Some of the shares only amount the bears and driven down four ed to twopence, and these are ex-
points, while other issues, were ad-. pected to secure more than £50.
The second prize of £300,000 was
vancing. Simmons closed at 901, wow by ticket No. 25877, which was sold in Barcelona, and the third of 6 from Saturday,
in Seville.
---
6.00 Y
5.00 x
6,00
etter
Sunday, 16th,
9.00 AM 9.00AM
Tyndareu Anhui
Luchowo
**
Reg
Ounton Maru Kalgan
Free. Linccin
Beg Letters
Monday, 17th,
3.00 Parcels
4.16.FM
5.00 7
Prés. Lincoln... Emp, of Australioj
Letters
6. M
Frechen Yuensang
Mania, Australia & New Zealand vis
Thursday Island due Thursday}| Ohangte Inland, 1st Harul
5.00 PM 6.007 5,00
Parcelu 6.00 T ||Bog,18th,9.45 A M
Biter · 10:39 AM
Tuesday, 18th,
Noo
Ettern 1.00 PM
1.00
5,00 M
Kowloon P.O.. Reg
4.30 Let,2nd, CO & M
Straits, Ceylon, India, Mauritius, E. & 13.,
Africa, Egypt &EUROPE via Mar teilias das Marseilles, 23rd March....
Rails Quiet and Steady. The rails were quiet and steady. New York Central was off 1 to 181). Pennsylvania rose to close at 701 Chicago Northwestern reset to Sandakan close at 88. Rock Island was up to close at 119. Erie was off for a close of 58. Reading rose 1 to 132.
After the first hour a reaction began, and the main body of stocks declined. Simmons broke eight points, the expectation of new financing dampening the ardor of the operators generally. Many took profits during the decline.
General Electric new stock was off 1 to a close of 72. Westinghouse E. M. declined 14 to 161. Interna- tional Combustion Eng. was offi to 7.
th Utilities Of.
The Dow Jones average for 30 industrials was off 1.87, to 208.54.
...
For 20 utilities, the average was off 1.87 to 91:49. Columbia, Gas &
Electric rose to close at 85. Con- solidated Gas of New York was down to 109, Standard Gas & of £143,000 by ticket No. 17874, U. S. Stoel met with selling ear-Electric dropped sharply, down
three points to 118,- which was bought by a syndicately in the session but then succeeded. Among other issues, Radio Cor- The total prizes in the lottery, in staging a rally and helped the poration was off 1 to 87; General which is the largest in the world, remainder of the market. It clor Motors was up from Saturday's 421 ed at 182, down 14 from Baturday. to a close to-day of 441; American amount to £3,000,000,
Bethlehem likewise was down some-Tobacco "A" closed down, 2 to what, closing at 101, of Ameri- 2211; Anacondo Copper rose to764. can Rolling Mill declined from Sales, for the day totaled 3,793,430 Saturday's 914 to a close to-day of shares. Call money went up to 80%.
$1 per cent.
It is stated that one-twentieth of the first prize will be distributed among the employees of a furniture factory, the owner of which had an interest in the winning ticket.
South Africa and South American Ports|
via Saigon sad Singapore
***
Par.
Kumeang
Hangsang
Friday,
Kitana Moru
G.P.O.
Marsang.
Reg. ||Letters · 9,30 ▲ M
Monday, 24th, 1.30 z
[Tuesday, 28th,.
8,45 AM
8,80 A M
Hawaii Maru
*Supercribed correspondance only.
YOU KNOW
YOU WON'T WRITE
So better send your old mess-mate
■ Weekly Press while he is away. Let us have his Address, and send us $7.50 and we will send it to him
FOR SIX MONTHS