Money and
METAL MARKET.
HORNBY & HEMELRYK'S REPORT.
We have received from Messrs, Pentreath & Co., the following re- port issued by Messrs. Hornby, Hemelryk & C., Liverpool; under date March 7
Copper.
Cluse yesterday:-Cash £70.17.6, last week £68: three months £68.7.8, Jast week £66.17.6; New York, May 16.40c., last week 17.300.
It looks as if there will be an- other squeeze and a heavy back wardation in the Standard market during the first ten days of May.
American interests have again begun to assert themselves violently, and are not only buying up near dates heavily, but the market is in debt to them to the extent of several thousand tons of Copper for early May delivery.
There seems very little chance of the Copper Exporters' Inc. reduc ing their price for months to come.
Our New York correspondents cable that the consensus of opinion is that n reduction in price is even- tually inevitable, ·
Tin.
Markets
CANTON - TRADE NOTES.
The market for both dour and sugar remains dull, and prices are still low.
*
During the past 20 days, some 67,547 ounces of silver bullion and over 77,000 silver dollar pieces were imported into the city.
*
The export of raw silk has been very disappointing. During the past ten days, only 423 piculs of raw silk and 1,434 piculs of waste silk were exported.
·
The price of kerosene has risen! sharply in Shiukwan. The current price is 84.52 per can, being 1 higher than usual. The quotations in Canton are normal.
Tailoring shops for European clothes are faring badly. Many of the tailors have been jobless as a result. There are at present over 300 tailors employed in the shops, as compared with 700 in 1925.
3
*
*
+
The cotton yarn market has again become inactive, both wholesale nad retail being very limited. The
THE HONG KONG DAILY PRESS WEDNESDAY, APRIL 30,
THE ASIA LIFE INS. CO.
"ANOTHER SUCCESSFUL
YEAR.
DAILY SHARE QUOTATIONS.
די
HONG KONG STOCK EXCHANGE.
The general shareholders' meet-ups, sellers ing of the Asia Life Insurance Com. pany was held on April 10, at the offices of the Company, No. 17, the Bund, Shanghai, when Mr C. 'V. Starr presided over a large gather- ing of shareholders.
The year's working for 1929 was reviewed by the Chairman, during the course of which he said that he felt sure the report and accounts, as presented, would be considered as very satisfactory by the share. holders. Assets have increased from $1,747,265.84 at the end of 1829 to 82,432,198.94 at the end Reserves have gained of 1929. $403,339.31 and the Company's not surplus has increased by $54,709.02. Payments to policy-holders and
during the
year beneficiaries. amounted to $207,826.24, bringing the total of these payments. since the formation of the Company to 8770,320.22.
EMPIRE TUNG OIL.
FAVOURABLE RESULTS OF
EXPERIMENTS.
For some years there has been a growing interest in the question of the development of tung oil pro duction within the British Empire, Tung oil is an essential raw mate. rial of varnish manufacture and is, indeed, indispensable for types of varnish. The chief source of supply is China. In 1880 cultiva-
certain
Close yesterday:-Cash £188.13, last week £161.15; three months £170.5, last week £183.17.6; Now York, May 31.33c., last week 35,80c. quotations remain low in consetion of the tung oil tree was intro- The market was a little reaction-quence. According to Shanghai duced into England, but little in- ary yesterday after the recent sharp telegram, the market there is un-
changed.
rish.
We think it would be a great mistake if the price should be raised much higher at present as there are -a number of mines in different parts of the world, notably in Bolivia, which are contemplating closing down owing to the price, and which will certainly not do so on a rising market.
The position is coming com- plicated again by the reactions of the old Group which has suddenly come to life and seems to be func Lioning on exactly similar lines t those which failed so lamentably during the last eighteen months. It is buying cash retal and taking up large quantities of Tin, and it
15
also broadcasting gratuitons warnings that it is very pawise to he short of Tin because it intends to take up enormous quantities and operate on a very large scale.
be
terest was shown until the Great War, when it was found that its water-resisting properties made it The mulberry leaf crops in Shunnecessary for aeroplanes. tak district are exceptionally good and it is estimated that over 600 nieuls of leaves are gathered per me. According to silk merchants, the forthcoming silk crops are of a promising nature.
*
Dried fungus. of which Chinese are very fond, is imported from Yunnan, Kwangsi and Szechwan. Recently, arrivals have been very short and prices have gone up. The current price for Szechwan dried fungus is 8230 per nicul, Kwangsi $210, and Yunnan $100.
*
Arrivals of honey from the North and West River districts are limits ed. and prices have risen. Honey is also imported from Shanghai, but its quality is not as good as that produced in Ewangtung. Kwang tung honey is sold at $37 per picul while that from Shanghai is quoted at $30..
8
1930.
SHAREBROKERS
ASSOCIATION.
Baics Nomical
TUESDAY. APRIL 29.
Buyers Ballara Salos Morinat
$440
IT
FOREIGN MAILS
RADIO NOTTOES.
The Radio Office," where full information concerning all wire. laas services may be obtained at all times, is situated on the ground Boor of the P. & O." Building in Des Vaux Road, next to the General Post Office.
Individuals and firms are recommended to register their tele- graphic address at the Radio Office. No charge is made for this.
INWARD MAILS.
EUROFn via Negavatam (Letters only,
Banks
$1,415
H.K. Banky
1,410
Do. (London)...
FROM
Pra
DUR
£17)
Chartered Banks
£30
Mercantile Bles. "A"'
£121
Do-
£18 £29 £15
8169
Bank of East Axis..] 9107
Staroma) & Swarow BARATIA
Suiyang Tiskarang
3 'th Apr.
...
Suth Apr.
TH
Insurances
JAPAN.
Nellore
S0th Apr.
SHANGHAI & AMOT
Ninghai
1st May.
$833
T.160
Canton Ins.
$ERO
Underwriters
$1.50 $1.60
BRANGAL & EUROPE A SISEEťá |
London, 3rd April & Paro ja 27th Mar)}} Antenor ...
lat. May
North China...
T160
(London, 11th April)...
Dorflinger
Tad My
$443
3365
$45
Union In
$450
JAPAR, SHANGHAI EUROPE IS SIBERIA
M.360 Yangtze In..........
360
***
(London, 18th Aprü). ....
Kashima Maru
and May
**** $355
BUSOF VIA NEDAPATAN (Papers only,
$900
HK. Fires.....
5900
London, 3rd April)
Hong Bwa
Yrd My
Shipping
Pres. Polk
3rd May
Melbourne Mary
5th Ma
$233 Douglases
321
$26
Steamboats............
$26
HONOLULU, JAPAN & SHANGHAI
3th Mar
343
Indos (pret)
$50
JAPAN
APAN & SHANGHAI ...
Angers
6th May
$340
Do. (def.)
$90
U.S.A. (É Francisco, Ifth April).1
99/4
Shell Transports... 95/
$27
*
Water-bonta....
$261
Mining
I
HONOLULU, JAPAN and Shanghai Tatyart CANADA (Vancouver, BC. 17th Apri·},{
1.8.A., HONOLULU, JAPAN & SHANGHAT] "Emp. of Canada...
Tai Ping AUSTRALIA & Manua
8th May
8th May
13th May
+H
China Fires
$8.70 Benquets... 36/3.
Kailans T13.60 Langkats (comb.).... 1.71 Do. (single)... T1.30 Exploration................ T5.40 Shanghai Loans ... HANDS........ Tronoh Mines .....
$23
21/-
"Docks, Wharys,
Godowns, etc.
kat
19/3
ELK. & K Wharfa... $132 Providenta
!!!!!
$154
$5.10
$3.15
83.10
$38
H.K. Docks
$37
T.8
T.125 Shanghai Docks
Now Engineerings
...T.127)
T.8.08
T245 Hongkewa ..............
Cotton Kids
T13 ex righta T13.15)
T,60 Shai. Ctons (old).... T.78 Do.
(DAW)... T.10 Zoong Sings
T.76
T.76
T9.70
The need for a close study of the prospects of tung oil plantations within the Empire became appar T.13 T13.40 ent early in 1927, in view of the The political situation in China. Research Association of British Paint, Colour, and Varnish Manu- facturers then purchased 700lb. weight" of selected seeds of the 1927 American crop, and distributed these over a wide area, with the help and advice of Sir William Furse and Dr. Hill, the Director of the Royal Botanien! Gardens, Kew:
The age when the tree begins to fruit depends on the soil, rainfal and treatment. In some localities in China the trees frait at three years, but usually the fourth and fifth year brings the Brst commer einl crop, after which the yield steadily increases up to the ninth or tenth year. Since 1927 there have been annual distribution of seeds, and it is expected that the of the experimental first fraits plantations on a coinmercial basis will be reaped two years hence.
The newspaper cartoonists have
11.9
3127 872
$12.65
T.245 $8.60
$143
198
***..
통으로 321 821
$74
HOME
Lands, Hotels and Buildings
H.K. & S. Hotels... 812.80 F.K. Landa ....... $724 Shanghai Lands ...
H.K. Realtys.............. Humphreye
Chinese Estates
Public Utilities
İ
·Tramways................................|| 820.85 311.65 Peak Trams (old)... 811 86.05 Do. (Low)... $51
Star Ferries
3744
Lights" (old). $23.40
Do. (new)...... $187 H.K. Electrica $72
Industrials
U.S.A. (San Francisco 4th April
HONOLULU, JAPAN & SHARQEAL
JAPAN
USA. (San Francisco, 11th April). Pres. Pires"
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 close at or before 2.am registered and parcel mails are closed at 5p.m.. on the previous day.
Fox
Fort Payard..
Shanghai, Japan, Canada, U.8.A., C.
& S. America & *EUKUPE via Van-{| couver, B.O.-dne Vancouver, B.D., 17th May, & Europe via Siberia ... Swato
Straits and Calcutta
Haiphong
Sandakan
Manila
Ampy
19.857. TO
383
y
8142
82111.135
1st
PER
DATE & TIME
Wednesday, 30th,
Wing Wo.m Empress of Asia
Blog.......
9.00 AM
9.15 AM
Letters 10.00 AM
Fan Bondar
10.00 AM.
Parce's
Noon
Shirata
Trattor
1.00 2
Canton
1.80
N
Hinsang
.1.3-4
Deihi
230 F
2.30
M
3.30 X 5.COM
3.00 M
5.00 P
Log.
5:00 PM
turs 8.30 AM
Formosa...
Amoy
244
Headw, Pakhoi and Haiphong
Formose...
Shanghai, Japan, Honolulu,
Canada, Central & South America, and *EUROPE vs San Francisco- due San Francisco, 22nd M yand "EUROPE via Siberia
Saigon
Amy
Bangkok
Swatow...
Saigon ...
'Hoíhow, Fakhoi & Haiphong
*dothor & Bangkok
Japan. *Honoiala & South American Port
Manila, Sandakao,
australia (except
Places South of Townsville) & *Now
Zealand va Thursday island-due
Oostkark
+
Tainan
Tilawa
Limcharo...
Peking Haru
"
Amma Maru...Thursday, 1st,
Haldis Tjikarang
Bintang.... Hydrangea
1 : 1 ::
I
-MAY- Thursday, Jat,
9.30 & A -10.30 ▲ M Noan
3.00 PX
4.80 z
8.30 & Ar
8314* 10.30 AM
Wushing...
Friday, 2ed,
Menado Maru Chinhua Hega Maru
Nellore...
Part Breg. Leiters
Noon
1.35 ? "
2.80 P
***
1.00 F M
Reg. Letters *
5,60 T
6.00 P K
8.0.
Reg.
43,7
$75
$23
$181 $721 823 $5.05
$23.75 184/2/19 873
$73
373
***
Macao do.
Sandakan Lights....
$12)
813
12.80/90
Telephones.
$13
T.19
+
China Buses
10/- 18/3
Tractions y
Do. (pref.)...
**
Thursday Island, 17th May..
***
Swatow, Amoy and Foochow
Shanghai, Dairen & "EUROPE via Siberia) Antenor
T.10
Caldbeck, 1(ord.)
T.10
S'raits, Ceylon, India, Mauriline, E. &
$2}
Canton Lees ***
$16.15.
$164
15.70/16
311
I
(old)
Bu
58.15 $0.80
$5
$27
"United Asbestos
We have heard and suffered from all this before. Our own view of Tin is that, if the price enn kept down between £100 and £170 per ton for another six weeks, there will be a great decrease in produc- tion, apart from the artificial de
There has been a very healthy ereuse engineered by the Tin Pro- demand for licorice, and the ducers Association. and that a slow price has consequently soared up. but steady, and possibly prolonged. Licorice is imported from the north-seized on Mr. Gandhi's salt-collect- rise in the price of, Tin may be seen
ern provinces and consumed in very ing Activities
A subject for during the latter half of this year. large quantities by dealers
humorous representations. Thus By June it ought to be possible medicine and edibles. The current the Evening Standard publishes a to form a more or less necurate price (súperior quality) varies from picture entitled Exchange of Com conception of what the production | 8240 to $250 per picul.
pliments on the Dandi Seashore, for this year is likely to be, bat!
which shows Mr. Gandhi, in a loin will, still consumption
cloth, sitting near the Viceroy on ather an enigma. We are looking
The market is on the easy side, the beach; with a crowd of Indian for a reduction in consumption this but priers are low, and. for most followers in the background. Mr. year of about 8.000 tons, practically aroducers, quite uneconomic. An Gandhi, bolding a small spoon in al of which, will, we think, be scen
how this is a free market and stands the direction of the Viceroy, asks: in the first six months of the year; on its own feet. If there should be "May I offer you some salt?" Lord Lite which we look for active mar another serious relapse. in price. Irwin (aside), holding a kets and a strong demand. may cause is to alter these views, Spelter would certainly be worth cruet, soliloquises: "Now should I $23.20.....
pass him the pepper?" The Star, but it is interesting to know that buying for a quick turt.
under the heading Goosie Goosie a number of estimates concerning
Gandhi, showg a goose carrying a consumption which we have sought
label inscribed, "Please put salt from prominent people in the trade
on my tail," a reference to Mr. range from no decrease up to 30,000
Gandhi's desire to get arrested. tons decrease as compared with 1029.
remain
Time
We think that if the price of Tin is to exceed £800 per ton this. year, production will need to be at least 10,000 tons less than actual consumption. There is a reasonable chance of both these events coming to pass.
Our New York correspondents cable that the market is firm, and that distants look an attractive purchase at the present level.
Lead.
Clise yesterday: Prompt £18.16.0, last week 18.11.3; Forward £18. 18.0, last week £18.15.
"This is a most difficult market to judge. The Lead Producers' ABEO ciation, having bought all the Lead that was offered on the market for quite a long period at £21.12.6 per ton, last week sold any quantity of Lead that anybody wanted to buy, the total being at least 5,000 tons. at £18.15 per tor, and now are put- ting the price up again, encouraged thereto by the rise yesterday in New York.
*. Spelter. ***
Close yesterday: Prompt £18.12.6, last week 18.5; Forward £19.2.0, last week £18.12.0.
A sharp rise took place under "short covering and reports that fur- ther efforts to renew the cartel were meeting with more success. It is generally thought, however, that the ROY
the jealousy between the conflicting interests in Europe will make the task of the negotiators extremely difficult, and not much hope of, succes is held out,
(Continued on next Oolumný
Silver.
Close yesterday Prompt 19.7/16d., last week 10d.; Forward 19 d., last week 15.3/16d.
AMERICAN STOCK QUOTATIONS.
LATEST WALL STREET PRICES.
small
The following quotations have been received from their car- respondents, Mesers. Hayden, Stone & Co., of New York, by Mesura. Swan, Culbertson & Fritz, Sassoon House, Shanghai, (cable address: "Swanstock," Shanghai), who are not responsible for cable mutilations:-
-Tone of Market Weak,
No. of Shares done -4,500,000.0. Call Money-4 per cent,
American Smelting Anaconda Copper Baltimore and Ohio
Borg Warner
ין
Macgregor (pref.)
Cements (comb.
Do
(new)... 841 Ropes) 58.10
China Sugars....................
Malabon Sugars
Miscellaneous
Dairy Farms.... Der A. Wings.... Amusements
$1.30 Constructions
Lane Crawfords. $3 Mackintoshs.........
Nanyang Tobacco...
Sinceres (ald)......
$231.40
$0.80
***
$33
TH
41
FAR
$3
J
ரிசம்
$18
441
$2.85 63. 8%
prem.
9. Africa, Adon, Bgypt & LUROPE{| Kashimä Muru 5 | Let, 3rd, 5.00 à M via Warisles-due Marecil.os, 2nd June
899
Amoy
laufla
Manila, Australia and New Zealand vis
Brabane due brisbane, 19th May ... "Melbourne Marul Le,ters
1.2.0. Beg, 3rd, 8.45 ★ M
Letters
aturday, 3rd,
8.50
K
Kingyuan
Prei, Polk
5.00 R
500 a.
Sunday, 4th,
Swatow, Amoy & Formom
$23.36
BtoBaugkok ..........
Hozan Maru Kuangchow
9.00. 9.COM
830
$30
$1.20
Monday, Bcg. 4.15PM
Stb.
$4
5.00 a
Tuesday, 6th,
་་་
$12
$11
Foochow & Wei Eni Wei v'a Swatow
... Huichow
9.83
A
17
$11
Do. (new) $10.49 Watsons
$10.00
sigon, "Strails, Caylon, Indis, Mauritita,"
Kowloon P.O: Reg. 1.00.
WI
# East Bad Louth
Africa, äden, {| Angora ... Egypt & EUROPE via Marseilles--|
ue Marseilles, 7th June
Vanilla
...Lettors
1.00 G.P.O,
Reg.
1.45 P
Pres. Pitico
Laitora
:
8,30 px
4.30 M
Swatow..
Yatshing...
- WEEK DAYS.
SUNDAYS & HOLIDAYS
Wednesday, 7th,
.30 AM
f'hareda, 8th.
FROM G.P.O.
FEOX' SHLUNG VANÍ BEANCH P.O.
Tiox €,P,0.
FROX SHKUNGWAN
P.O.
Manila i
Emp, of Canada...
3.30 / M
Friday, Parcels
9th, Noon
Kuliang Furmang....
..:Letters
5.00 x
(7.15 £8.00
& 7,50 6.0. 17.00 pm.
Powells.......| 824
B. Ind. G.8 Bonds... 63% H.K. Gort, Loan ... $107
LOCAL AND REGULAR OUTWARD MAILS.
FOR
Straite & Calcntis Amuy
*Superscribed - correspondents-only.
7.16 am. ƒ 7,30 AM. ́ {.1.15. p.m.- |-{ 1.30 p.m...........
Kongmoon (except Saturdays) 5.00 p.m.
77,15 am, &] [730 a.m; & 6.00 p.m. $7.00pm. Sundays Ründays _6 p.m. only||| 7,00 p.m.
Lonly
(7.15 am. & 7.80 km. &
1:15 pm.
1.30 nm
·8.15 mm. · 8.201 Lonly
| Sondays........ Sundays....../|
WHEN YOU ARE DUE FOR LEAVE
Send a Chit to 11, loc House Street.
and order the Hongkong weekl
Weekly Press
New York, April 28, 1930.
Last Dividend.
Latest Sales.
Canton
72
62
114
29
Maase & Teine kan
Chrysler Motors
3
36
City Service Common
30c. A
42
Curtia Wright Commonðar
None
13
Eastman Kodak ......
ав
248
Kaukong (ezoert Baturday
Electric Bond and Share
60
112
Erie Railroad
None.
33
Fatahan (By Train)
3
48
General Ky. Signal
Tai, 0
B
93
46
Tai Po
Goodyear Tire and Rubber Granby Consolidated
Shumchun
38
General Motors
Gold Dust
Hudson Motors .......... International Cement ... International Nickel Montgomery Ward ... Nevada Consolidated Copper...
Corp fo
Sears Roebuck & Co. erine Simmons - Co.
Lonly
6.00 P
6.00 p.
6.00 pm.
400 pa
Baldo patter
7.16 am.
7.15; 0.00 9.00 am
9.00
to be sent to you for-
€0.00 .m. &
18.00 p €9,00 {5,00p.m
&
12.30 p.. & 4,30 p.m. Baturday
11.08.
(100
1 & 4.20 p.m.
Three months
8.30 al.
Choungchow
1.00 p.m. &
4.89 p.
Aberdeen
8.30.
2D
87
Autan Pingsha, Santin,)
47
Shan, Shatankok, and
8,00 p.m.
10.30 am.
Standard Oil Co. of New York
1.00
Shengshui
Union Carbide and Carbon...
2.60
90
Saikang...
4.30 p.
4.30 piza
Namtan, Shatri & Taiping
U.S.: Rubber
None.
28
7.00 pa
7.00 pa
(Famün).
188
United States Steel
Twelve months
$3.75
$15.00