Money and Markets
GREEN ISLAND CEMENT
COMPANY.
CONNECTION WITH MESSRS, SHEWAN TOMES SEVERED,
THE HONG KONG DAILY PRESS, THURSDAY, FEBRUARY 27, 1930.
NEW YORK STOCK DAILY SHARE QUOTATIONS.
EXCHANGE.
SHARP DECLINE ON
FEBRUARY 20.07
[UNITED PRASS.]"
enterprise comes into line with the recommendations of the Tin Pro- ducers' Association, and their ac tion marks a further step in the development of the Association's policy of curtailment; but com- plete agreement has not been rench ed, and pending confidence being An extraordinary general meeting more fully restored the market pre- sents from time to time a nervous of shareholders of the Green Island and hesitating appearance, reacting Cement Company was held yester- under the influence of profit-takingNews Agency. day to confirm the resolution, paasales, whilst the large stocks still ed at an extraordinary general tion. In this respect, however, weigh rather heavily on the situa- meeting held on February 5, which there are indications of improve makes a change in the managementment, and stocka, if not actually of the Company.
·CHAIRMAN'S SPEECH, The Chairman, Mi. C. A. da Rozs, said:-The object for which this meeting has been called is, a indicated in the notice which the Secretary has just read, for the purpose of receiving a report of the proceedings at the extraordinary general meeting held on February 5 last, and of confrining, if thought fit, as a special resolution the re- solution which was passed as "an extraordinary resolution" at" that mecting. You will remember that at the above-mentioned meeting I explained to you at some length why your Board considered it neces- sary to alter the future adminis tration of the Company by severing its very long connection with Messrs. Shewan, Tomes & Co., and you will also remember that as re gards compensation to Messrs. Shewan, Tomes & Co. for loss of office, I stated that steps would be taken by your Directors to review this whole question for the purpose of placing the matter before share holders again in general meeting.
Compensation to be paid. Negotiations with Messrs. Shewan, Tomes & Co., will be proceeded with as soon as we are clothed with the necessary authority which the re- solution, before you to-day will con- fer on us, and the result of such negotiations will be submitted to shareholders for their approval at an extraordinary general meeting which will be called shortly.
Ixill accordingly formally pro post the confirmation as a special resolution of the following extra- ordinary resolution, namely: "That the firin of Messrs. Shewan, Tomes &Co., . removed pursuant to Article XI. (8) of the Articles of Association of this Company from the Office of General Managers of the business of the Company but be paid, as compensation for such re- moval any such, sum as the Com- pany in General Meeting may here- after decide." I shall be glad if some shareholder will second that.
Mr. P. M. N. da Silva seconded and the resolution was carried unanimously,
The Chairman was supported by Mr. J. H. Taggart, Mr. J. Scott Hartson, Sir Robert Ho Tung, Mr C. F. Mendham and Mr. Li- Tae Fong (Directors), Mr. Allan Keith (Secretary) and Messrs. F. J. Tavares, H. Dreyer, J. P. Pereira, M. A. Figueiredo, N. Braga, F. E.. Silva, P. M. N. da Silva, A. L. Shields and I. W. Shewan (share- holders).
THE METAL MARKETS.
RUDOLF WOLFF'S WEEKLY REVIEW,
HONG KONG STOCK EXCHANGE.
SHAREBROKERS' ASSOCIATION.
Buy
Ballers
Bala Nominal'
WEDNESDAY. FEBRUARY 26. Seller
Anies Nominal
ann
$1,350 1,350/40
cnim, dir. £118
218
929
£15
*::*
$748
T.100
·HI
***2.70
$380
204
New York, Feb. 20.—In the harpest decline thus far recorded for the present year, prices on the New York Stock Exchange to-day broke from one to eight points and issues on the Curb also met with heavy selling, says the daily re view of the Dow Jones Financial 10%
Bonds were irregular. Cotton broke sharply, though, it rallied near the close. Gains continued to be weak. The weakness ja com. modities dampened enthusiasm for decreasing, are apparently not ac-stocks, and early in the market, cumulating to the same extent as traders sold on every opportunity. hitherto, which gives ground for the The intermittent rallies were mere- belief that demand on the part of
ly signals for further selling. consumers, which has been slightly better, tends to further improve the close, when a few issues met In the present circumstances, the market should not experience seri-
with support. Sales for the day came to a total of 3,661,070. ous setback, but gradually improve if and when the regulation of out- put becomes more definitely estab- shed, though reactions must oc cur from time to time in view of the heavy stocks and the still is
London, January 31.-Marketa have on the whole displayed a rather firmer appearance and prices are all higher as compared with last Friday's close. There is no marked changed in the industrial situation, but as the year develops some improvement should take place. Meanwhile, the financial position tends to become easier, and the reduction of the Fate of the Bank of France from 34 per cent. to 3 per cent should foreshadow some further reduction in the Bank, Rate here.
TEN
2
definite industrial outlook.
Options:-Double £15, Single
£7.10.
Cash-£1723 (opening), $160.10 (highest), £179.5 (lowest), £176.15 (closing).
Three months: -£175.10 (open- lag). £183.15 (highest), £175.10 (lowest), £179.13 (clcsing).
Tarnover for the week 4,150 tons.
COPPER.
The decline continued until near
Unique Factor.
Radio Corporation, which had advanced near the close yesterday .on a "bants of fresh, consolidation reports, was a unique factor of the market to-day. It reached 48% in a heavy turnover and then declin- ed. The close found'it at 43), down 2 from the close yesterday.
The day's losses principally affected the professional tradera on the Stock Exchange.
$540 $880
Banks"
H.K. Banks
Do. (London)"... Chartered Banks.
Mercantile Bis, "A"
Do.
Bank of East Asia... } $98)
Union Inspsstatakan,
M.850 Yangtaso In......
China Fires**** H.K. Fires-ser
Shipping
Douglases
8:50
#1,360 |ez div.
*
£19
FOREIGN "MAILS.
RADIO NOTICES
11
The Radio Ofice, where fall information concerning all wireless services may be obtained at all times, is situated on the ground floor of the P. & U Building in Des Vœux Road, next to the General Post Oslos,'
Individuals and firms are" recommended to register their talegraphia adi dresser at the Radio, Office. No charge is made for this,
It is notified for information that with effect from 28th February, 1930, the local earrency rates for radio telegrams to the countries named below will be ina 2ased as shown
Indo-Chicamente i snad everyon ..$0.85
Siam
Carry menu nanananananni 1.80.00. Netherlands East Indies.....................
BHANGUAL &SWATOW
INWARD MAILS."
$1.10
P11.
Dл
Fox
Canton In. ****...
$740
144
44
Underwriters.
***
$1.50
North Chine
T100
114
$60
Euxori via Su11 (Lettera & papera, Lon-1}
don, 30th Jan., & parenis, 23rd Jan.) ·}} Rawalpindi USA. (Seattle, 8th zebruary), Jarán)
& SHANDPAI
Pro. Pierce
27th Feb.
28th Feb
J-FAN, SHANGHAI & EU÷OPE 'via]
Sibe is (London, 8th February)
Macedonia
28th Feb
Bunning
1rb Mar.
MANILA
Pras. Afadison
3rd Mar.
...
BTEATTE
Alxuda Maru
3rd Mar,
$24
$951
U.B.4. (San Francisco, 6th February))
HONOLULU, JAYAM & HUANGHAI
411
$60
“Japan & Shangbal
Taiyo Maru Kashmir...
4th Mar
7th Mar.
$90
CANADA (Victoria, B. 18th Feb.,
8th May
10th Mar.
U.S.A. (San Francisco, 14th February),)
Honolulu, Jaran 2'SuaverAI AUSTRALIA & MANILA
Pres. Jackson Tai Ping
10th Mar.
11th Mar.
$35
$28
Steamboats
Indos (pref.)
$70
Do. (dat)
93,6
Shell Transporta
90/
Water-bosta
Mining
Benqusta.
$151
-All three of the main. Dow Jones | $14} Averages reflected declines. For 30 industrials, the average was off 5.05 to 283.41; for 20 rails, it was off 2.48 to 152.49; for 20 utilities, it was off 2.44 to 98.38.
Heavy Drop.
showing a small advance of 5/- to Copper has ruled steady, the price
New York Central showed n 7/8d. in compared with our last report. The market presents no heavy drop of seven points to a fresh feature of interest; the con- close of 181. Pennsylvania was off to excised over the stocks, of 15 to close at 32. Eric was down Standard metal and the artificial to 581. Union Pacific was off position which results therefrom three points to 293. Canadian Paci
fie dropped to 911. Rock Island have had a restricting influence on business. Demand on the part of was off 13 to 127. consumers still fails to develop satisfactorily but the price of Electrolytic is nevertheless main tained at 18:20. conte c-i.f.
Tia has been irregular. After earlier firmness, the market "has reacted and the highest points have not been maintained; the price nevertheless shows an advance of £4 as compared with our last re- port Sales in the East during the week have amounted to 1,450 tons, no business having been effected there yesterday or to-day owing to the Chinese New Year; shipments thenoc up to the 97th instant" werd 7,565 tons, and for the month arc now estimated at 8,250 tona. Pre- miums on Straits and Basks are quoted at £1.15 and £8 (nom.) respectively. Business with consum. ers has broadened slightly, both in the U.8.A. and on this side, a fair- ly active demand. being generally reported. The firmness during the week may more particularly be ascribed to reports that the Patino mines had authorized a roduction. of output, whereby this important.
Options:--Double £4, Single £3, · Chsh: -£78
Time money was quoted at 4i per- cent. and 5 per cent, and call money held on at 4 per cent.
Brokers' Loans,
Washington, Feb. 20.-Brokers' (opening), £72.5 loans in the United States rose highest), £71.10 (lowest), £72 (clos844,000,000 during the past week ing).
Three months- £68.10 (opening), £00 (highest), '£68.5 (lowest), £68.13 (closing).
Turnover for the week 3,575 tons.
#
$5,30 | 851 $32
17.80
I
Kailan
T13.60 Langkats (comb.) .......
Do. (single)...!
T.120 Shanghai Docks...
New Engineering
Hongkews
!!!!!!
0.8.A HONOLULU,JATAN & DHANGUS]]] Fmp. of Canada AUSTRALIA & Manila
St. Albani
OUTWARD MAILS.
REGISTERED and PARCEL MAILS are closed 15 minutes earlier than the time given below unless otherwise stated, and where mails are advertised to clase at or before 9 a.m. registered and parcel mails are closed at à p.m. on the previous day.
E
DATE & THE
Thursday, 27th, 10.90 & Faroela 10.30 A M Laiters 1183 a
Fox
PER.
Eurypylus
Takliws
Bydrangea
153
30/-
T.7
T130 Explorations..
T.6
Shanghai Lozis
Raube ...
#147
21/-
Tronoh Mines ..................
Docks, WharreS,
Godowns, sta
8155
EK. & K. Wharfa.. Providenta
$154 $156
$3.45
HK. Docks
$301
T120
Farmors...
1.7]
Atralto di Calculia
2.90 M
Bestow
Swałow ...
Selatan
3.30
**
Taiyuan ...
8.30
Faigon...
Tingchow
6.00
Friday.
28th,
T23
T10,10
Shanghai and Japan
Skidskoka Maru
8.30
Shanghai, Japan & EUROPE via Siberia | Ravalpinki
10.30 & N
Manila, Bandakan, Australia
New)
Zealand (vis Thursday Island-edro
Tands...
Thursday Island, 13th March
Par Reg. Latters
Hooa
Bwstow, Amoy & Foochow ...
**
Rainang
20
2643
Btraits, Ceylon, India, Mauritiza, F. A 8,
$14
T.196
• Cotton Mills
T.161 T16.40||
Ewon
T.16
T.83
S'hai. C'tons (old)....
**
T.ss
Do,
(now).
T.10
Zeong Sings
$13)
$124
$85
T.910
28.30
เ
198
-
to a total of 83,404,000,000; siccord- ing to announcement here to-day.
This compares with a 1929 high | 814 of 88,804,000,000 and a low of 83,328,000,000.
CROSSWORD PUZZLE.
7
Buildings
| Lands, Hotels and
H.K. & S. Hotels... $1250
H.K. Landa
Shanghai Lands
H.K. Kealtysvens
Humphreys re
Chinese Estates
THE
$20
Amoy
མ་
Africa, Aden, Egypt & EUROPE Macedonia vin. Marseillen-due Marseilles, 18th ( March
Japan, Honolulu & *South American Ports Rakuyo Maru Saigon
1.45 PM
4.30M 1.00 P
Bowloon PO. Parcela 4.30 Beg, 1st, 9.00 a m Lettors 10.00 .#. G.P.O.
Far., 28th, 5.00
||Reg., 1st, 9.45 a M
Letters 10.30 am
MARCH
Public Utilities'.
"
$19.80 $10.90
+
Tramways
$19.60
BJIA
Peak Trams (old)... $11
86.05
De. (now)... $5)
388
Star Ferries
$58)
$19.20
Lights (old)................!
e 19 10 IN
112
315
Do. (new)......
315
Do. (comb.)...
Bangkok via Swatow
$221
Swatow, Amoy & Formosa
SADL
$691
**3
811
18
89.85
$9.60
T.17
10/
10/0
H.K. Electrics
Macuo do.
Sandakan Lights...
Telephones.....
China Buses
Tractions
Do. (pref.).
Industrials
15
19
20
233 f
27
128
T.10 T.10
Caldbeck, Lord.)
Macgregor (prof.)
324
Cantou Ices
31
32
$147 | $14,85; $14.80]
Cementa (comb.)...| $141-
$11
Do
(old)...
$113
133 134
35
26
57
.Do. (now)...
$7.80
Ropes
$0.75
China Sugara..........
59
40
$27
Malabon Sugars...
· སྙན་ .
United Ashestos
143
197
51
55
Hörizontal.
11 8
18
149
150
1. Characterized by refinement. 11-In Russia, council
7-Having branches.
13.-Gazed.
14-Character in Midsummer
Night's Dream.
15.-Mother.
16. To be agitated.
18-One of the southern U.S.
(abbr.): 19.-Unusual.
21-Fat.. 22-White lie. 23.-Withered.. 25.-Sea eagle.
28. To pare. 97.-Exchanged.
20. To strike out. 31.-Bench. "32.-Balt.
33-Set of bella 36.-Flowers..
38. The moon. 40.-Vehicle. 42.-Solo.
43,Unit of energy 44-Intestinal pain.. 48.The sun.
47.-Symbol for aluminum. 48.Contusions. 50.-Toward, ". 51.-Elegant covering. 53.--A number. 55.-Eats sway. 30.-Steps:
Vertical."
1.-Highest. 2.-School book.
3.-To exist, 4.-Skill.
B-Record of events.
6. Prepared for press. 7-Plump.
B. To aid. 9-Meridian (abbr.)
10.-Conjunction.
12To empower.
17.-Jutting rock.
20-Adorning.
22-Antennae.
24-Dropay.
20.-Estuary between Uruguay
and Argentinë.
23-Female sheep.
30.-A worm.
33. To split.
34.--One who throws.
35,-Scrubs clean.
37-One who disturbs..
$0.80
$28
$18
8117
54%
prem.
KUPUU4111
Miscellaneous
$22.40 Dairy Farma........ Der A. Wings......... Amusementa
$1.30 Constructions...
Lane Crawfords ... Mackintoshs.....
$3
BA9
$221
Jayan, Canada, U.3.A., C. & E. America
Butunlay, lat,
Waishing...
5.00 M 5:00 PM
Sunday,
Kaying
Canton Maru
2.00 AM 940
Monday, Srd, 1.
Pres, Madison... Brg.
3.00 4.15 M fectors 5.00% Bcg. 8.00 Letteri
RUROPE via Victoria, B.Q.-
dus Vistoria, B., 21st March
binghai and EUROPE via Siberia"
Pres. Madison
-
Kutsang
(Taze.lay
4th,
8.80 & M
Par.
Hoihow.
Taming Shanghai, *fapan & *EUROPE via Siberis Zisula Mary Calcutta via Straita
Straits, Ceylon, India, Mauritius, E. & 8.)
Africa, Egypt & EUROPE is Mar- Philocteten seilles-due Marseilles, 4th April ...)
Swatow, Amoy & Feechow Swatow... Shanghai, Japan, Canada, 0.8.A. C.
& S. America & *EUROPE via Vaz- ( couver, B.C.-due Vancouver, B.C... 2nd Mar., & *Europe via Siberis ...)
Empress of Aria
10.30 à Noon
Letters 1.00 FM Kooloon 1.0.
Reg. 1.00 T.M
Boi Jing...
Awas Bang
$1.20
$3
Sandakan
Nanyang Tobacco.....
34
Biralta Amoy
Hinang Laomedon... Narning ....
$12
Sinceres (old)....
810.40
Do.
(new)
$0.90
·
Watsons
$12.20
"Swatow, Amoy and Fooshow
Haiching
Wm. Powells......
$1
-Straita, Ceylon, India, Mauritius, E. &. 9.j
Afrios, Egypt & EUROPE via Mar neille due Marseilles, 8th April
Kashmir
WEEK DAYS.
SUNDAYS & HOLIDAYS
FOR
FROM G.P.O.
FROM SELUNGWAN Branch P.0.
PROX FLOK SHKUMOWAN G.P.O. BLAKUM
P.0.
Manila
B. Ind. G.8 Bonds... 60%
H.K. Govt. Losa ... #1054|
LOCAL AND REGULAR OUTWARD MAILS.
36.-Gets up.
38.-Receptions.
Canton
44-American Indian. 45.-Qaci.
41.-Arab first name.
48.-Sleeping place. 49.-Ocean.
52.-Negative.
84.Biz
YESTERDAY'S SOLUTION.
1578
332 4228. 7LE AGE REEL LUBEE RRSZED BAB CE
BEA 322 ULE OPEN ELE DELE HAD ARE DED
GNT DEL GEE 8202 LEC FEEE DAY BAR Z00 OR FOR FEIDER WIDE IRIB-ZTE 902 NEXT. TEE
Macao & Teinshan
7.15 am, & (7.30 am, & 5.00 p.m. 17.00 pm, Sanays Bondays (&p.m. only) | 7.00 pm.
Lonly
77.15 am. & 7.80 2.m {6.00 pm.
7.00 p.m.
(715 km. 4 (7:30 am, (1.15 p.m.
{1,20 p.m.
1.15 p.m. Bundays 6.16.,
Kangmoon (except Saturdays); Kankong (except Saturdays).... Fatahan (By Train) ... Tai 0
Tai Po
5.00 pe
6.00 p.m. 6.00 jp.
7.15 8.
Shumchun
Cheungchew
Aberdeen
Btanley Autan, Pizgahan, 'Bantin,
Shatin, Shataukok and
...+7.15.11. 9.00 am. (0,00a.m. &{
13.00 p. $9.00 .. {3.00 p.m. (12.30 p.m.
4.80 p.30. Saturdays 100 p.m. &
14.30 p.m.
9.30- 1.00 pm
3.00 pe
only 6.00 pm
9.00 am.
11.0 am.
51100
1 & 4.30 p.m.
6.30 8.11. 1.00 p
10.30 a
1.20 p.m. Bundays 8.30 only 6.00 p.m. 6.09.
Sheringsbul
Hallung
4.30 pm.
£30 p.m.
Nuntan, Shokki & Taiping)
(Famin)
7.00 p
7.00 p.m.
Emp. of Canada...
*Superscribed.correspondence only.
Friday,
7th,
1,00 PM Kowloon F.O Parcels 4.80 г Beg, 6th; 9.40 Letters 10.00 .
G.P.O. |Par., 7th, 8,00 % M
Reg., 8th, 9.45 AM.
|| Letters ~ 10,30, ▲ M
9th, Sunday,
9.00 ▲ *
YOU KNOW
YOU WON'T WRITE
So better send your old mess-mate
a Weekly Press while he is away.
as have his Address, and send
$7.50 and we will send it to him
FOR SIX MONTHS