Money and
NEW YORK STOCK
EXCHANGE.
SEVEREST SELLING WAVE
SEEN THIS YEAR.
SHARES OFFERED FOR. SACRIFICE PRICES.
(UNITED PRESS.)
New York, April 29-The New York stock market was subjected to-day to the severest selling wave of 1930, says the daily stock ex- change review of the Dow Jones Financial News Agency.
Values melted and leading indus. trials, rails, utilities and speciali ties were hard hit. Thousands of shares were thrown upon the mar- ket for whatever they would bring-
Poor Earnings the Gausa. This decline was primarily caus- "ed, in the view of experts, by the poor earnings reports for the first quarter. As a result, all the Dow Jones averages showed major de- clines. Sales for the day amount- ed to 4,852 190 shares. Call money, which has been at 31 per cent, was quoted at 4 per cent.
The showing for the rails was. especially bad, as the first 46 rail- roads reported a decline in earn- ings of 30.3 per cent. for March us compared with March of last year. The Dow dones average for rails to-day showed a decline of 271, to
146.72
Among the leaders, Pennsylvania was off 1 to 10 for to-day's close as compared with that of Saturday; New York Central, elosed at 173, off 41; Erie closed "off a point to 53; Union Pacific, was down 7 to 221: Canadian Pacific was off two points to 203: Missouri Pacific closed at 88; Baltimore & Ohio was off 1 and 13 and Scuthern Pacific was off 1 to 1221.
Ol: Subjected to Selling. Oils were strong early in the session but then were subjected to lling. Standard Oil of New York closed off a quarter to 38%; Stan dard of New Jersey was off a quar ter to 52; Continental Oil was off
I to 281; and Phillips Petroleum
Markets
Anaconda Copper was down 1 to.624. Tran, America was of to 45. Kreuger & Toll held at 331. Kroger Grocery was off 1) to 35 Borg Warner declined 14 to 39. Woolworth lost two points to close at .. United Aircraft was off two points to 84 but Curtiss Wright common rose a quarter-point to 13.
QUOTATIONS.
THE HONG KONG DAILY PRESS MONDAY, MAY 5, 1930.
SLUMP IN METALS. DAILY SHARE QUOTATIONS.
COPPER AND TIN MINES "CLOSING.
PRICES LOWEST FOR 17 YEARS
An important item of news for those interested in metals comes to
on
HONG KONG STOCK EXCHANGE.
SHAREBROKERS
"ASSOCIATION..
Видет
Bellere
Below Woul
SATURDAY. MAY 3.
Buyers Batter
Sales Nominat
G!!!
us from Mesars. Pentreath & Co., $1,400 || $1,410 who Saturday received the following cable from Messrs. Hornby, Hemelryk & Co., of Liver- pool:-
***
Banks
H.K. Banks
£17
********* 81,400) $1,410) Do. (London) ** Chartered Banks....
530
Mercantile Bks. "A"
Do.
Bank of East Asia... | #107
$109
New York, April 28. Market weat Business done 4,852,190.
Apr. Apr. 33 33
Copper and tin have reached prices which are the lowest record- ed for seventeen years, and are now Mines under cost of production. are closing down because it is un- profitable to work them at these, prices."
Izgurances
$880
Canton Ina.
$875
$16
Underwriters
$1.30
$1.40
1.160 $460
North China
T160
460/65/70
Union Ins...
$465
M.850
Yangtze Ins....
$60
$365
China Fires
#356
***
$900
H.K. Fires.....
3900
Shipping
$29
Douglases
$21
Steamboats
$28
$43
Indos (pref.)
03/
Adame Exprons ... Allied Chemical & Dye... American Can. - American Rolling Mill... American Smelling American Tel & Tel. American Tobacco 8" Arierican Waterworks... Arco Copper Atlantic Bolning Baltimore & Ohio Bethlehem Steel Borg Warner Calumet & Becla
Canadian Pacific Ballway Chesapeake Corporation Chicago Rock Island Chrysler
Cities Service, Common
Columbis Gas & Electric Columbia Graphsphone Commercial Solvents... Commonwealth & Southern Commonwealth 4., 8. Warr. Consolidated Gas of N. Y. Continental oli... Corn Products... Curtian Wright, Common Davision Chemical
Du Pont de Nemours
Eastman Kodak Electric Bord & Sharo... Erie Railway .............. Fox General Electric General Food
General Motor «- General Railway Signal Gold Dust
Goodrich Bubbor Goodyear Tire & Rubber Granby
Great Northern Certificates Hudson Motora...
... 331 841 ... 140 145
851 831 -721 71 ... 2511 20 2401 2:15 110 1157 041 621 45 45 ... 115 113)
... 101 093
41 391
21
220
... 205 203
761741
...Unq. sq.
*7 36 Ung. 411
International Coment ... International Combustion Eng.
International Harvester
International Nickel... International Printers Ink International Products, Com.... International Tel & Tel Johns Manville", Kennecott Copper Kreuger & Toli Kroger Grocery... Lambert....
& Myera "B
registered one of the rare gains of Liggestrel
the day by closing at 41%, up
The Dow Jones average for 30 reflected the trend industrials severely, heing off 8.82 to 276.04.
U.S. Steel was down three points to 185; Bethlehem was off 18 to 001; and Ludlum was of 3 to 33. Westinghouse dropped 91 to a close of 184. General Electric was down three points to 87. American Can declined 4 to 145, American Roll. ing Mil was off 2 to 83). Allied Chemical alumped 10 points to 391. Du Pont was off 1 to 133].
Motors and Utilities Decline.
motors, General Among the Motors declined 18 to 473; Packard was on a point to 184; Hudson Wes
Mack Trucks
Missouri Pacino Montgomery Ward Nevada Consolidated Copper. New York Central Northern Pacific Railway Pacific Lighting Packard Bister Car Paramount Famous Luty Pennsylvania Eailroad Pensroad Corpemtion... Phillips Fetroleum Public Service of N. Jersey
Union
83 811 37 34 331.83 181 181 51 51
CANTON INSURANCE OFFICE, LTD.
Appended is the report of the above named Company to be pre- sented to the shareholders at the 49th annual meeting to be held here on May 16-
The General Agents and Consult ing Committee have pleasure in submitting a statement of the ac- counts of the Office, made up to. December 31, 1999, in Sterling and Hong Kong currency.
1928: Account.After payment of an interim dividend of $18 per share on May 23, 1999, this account shows a surplus of $748,019.40;" and it is recommended that this sum be appropriated as follows:-
1851 180
29 281
107 10
12 13
To pay a final dividend
1861 1831
"of $27 per share...8270,000.00
To add to underwriting
suspense account to
$971
Do (def)
90/4 Shell Transports... Water-boats ............***
36/3
Mining
Banquets........
Kilens
T13.60 Langkats (comb.) ...
1.71 Do. (single)
T130 Explorations..........
192
Raubs
81/.
Tronoh Mines
T6.40 Shanghai Loans ...
8160
#160
$5.50
35.30/. 36
$38
close the year 1928.... 476,019.40
1127 T.8
654 03
00 8
$748,019.40
60) 50
49 47}
96 23
477 46
847 821 35 38
To
47 雌
0 10
109 105
36 35
56
61
1929 Account.-The amount stand- ing at creilit of this account is $1,012,581.53. Ous of this sum, it is further recommended that an in- terim dividend of $18 per share be paid, absorbing $160,000, the balance of $1,732,581.53 being car ried forward.
Docks, WharveI,
Godowns, etc.
.
$23
19/3
H.K. & K. Wharfa... $169 Provicenta...imens
H.K. Docks
85.35
CATAN
Shanghai Docks
New Engineerings
T245 Hongkew* ..........
Cotton Mila
Ewos
**
!!!!!!
!!!!!!!
#1!!
$50
$80
826)
FOREIGN MAILS
RADIO NOTICES..
The Radio Office, where. full information concerning all wire- loas services may be obtained at all times, is altuated on the ground floor of the P. & U. Building in Des Vœux Road," next to the General Post Office.
Individuals and firms are recommended to register their tale- graphic address at the Radio Office. No charge is made for this.
The Parcel Post Service tu Kwangsl with the exception of that to Wa chow, Kwailin and Pingle, is temporarily suspended until further notice.
INWARD MAILS.
From
PEB
DUZ
Prea. Pierce
5th May
Melbourne Marsei Angere
Tuigo Maru Yuensang
5th Mar
་་་
6th May
6th May
7th May
Feng, of Canada....
Khion
8th May
9th My
13th May
UB.&. (San-Franciaco 11th April),) HONOLULU, JAPAN, BHADHAL And EUROTI VA SIBERIA (London, 16th Apr.) JAPAN Jarak & SuaNGHAI,
**
U.S.A. (San Francisco, 1th April),
HONOLULU, JAPAN and SHANGHAI CALCUTTA & STRAITS
CATADA (Vancouver, B.Q. 17th Apri),1
1.8.A HONOLULU. JAPAN & SHANGHAT]] EUROPE VIA SULZ (Letters and papers,
Landon, 19th April, and parcels, 3rd April) AustRawa & MANILA,
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OUTWARD MAILS.
REGISTERED and PARCEL MAILS are closed 18 minutes earlier 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 5p.m. on the previous day,
Medan & Calcutta
FOR
*Straits & Calcutta .....
Swatow
PI2
DATE & TIME
Stonday,
200
Forthbank Seattle Haru Hydrangea
5th 10.30 A
4.80 -
3.00 X
Straits, East Africa via Momban, Tour
$37
T.127
U.S.A
T8.05
Shanghai and *EUROPE.is Siberis Foochow
(T13.10] az rights
S'hai. C'tons (old)...)
Do. (new)...
1.76
4
Manila, Australia and New Zealand via),
Brisbane dee Erisbane, 19th May.
endo Marques, South Africa & *South' "American Porbi... Japan, Honolulu, Canada
America & EUROPE via San Fran- Prus, Madison... Reg. cisco-due Ean Francisco, 28th May ...
Pres. Madison... Lattery Luchow -***
Hakata Moru'
2.30 PM
C. & S.
Parcels 8.00 EN
4.15 PM
Letters
HOL
5.00 * ».
5.00
6.00 r
@eg. Melbourne Marul Lettern 5.00.
·8.30 P 4.15 PM
T.70
T9.70
T.10 Zoong Sings
147
#richons Tiilsbost
Lands, Hotels and
Kowloon P.0.
12,80)
12.70/. 60
976
$9.80
aigon, Straits, Ceylon, India, Mauritine,
Fast and Fouth Africa, Ades, | Egypt & EUBOPE via Marciller—| dae Marseilles, 7th June..
Beg
1.10
Angers
Letters
1.00
Q.P.0,
Bep.
1.45
Le terk
2.30
$142
Tai Fook Sing.
4.307
Saigon
Pres. Pierce
Manila
20.75/80
Swato
Amoy
T.13 T13.40
T.79. T:76
$12.60 312.50 $12.70j $75 $75 $70/1
1955
T.253 $9.35
$143 $03
$94
Consulting Committee.-Mr. A. S. Gubbay resigned his scat on ac- count of his departure from the 7 Uaq. Colony. 741 721 Sir Robert Ho Tung, Messrs. A, 117 1081
H. Compton, L Dunbar, Henry 481479 332 333
Hum breys, . E. Pearce and A. ao set H. White retire but, being eligible, 108 101 offer themselves for re-election. 100 108
accounts Auditors. The
bave 32080 821 been audited by Messrs. Lowe, 701 78 Bingham & Matthews and Percy Unq. 88
Smith, Seth & Fleming who, being, "47"
444 2222 cligible, offer themselves for
election. 1792 176 Vnq: B6
361 331
1031 102
181 781
71 894
801 791
14 131
41 41
120 116
081 64
521 52
48
401
- Buliding# H.K. & S. Hotels. H.K. Lands.......) $741
Shanghai Lands ... H.K. Realtys*******
Humphreys
Chinese Estates
Public Utilities
•Tramways ...
Peak Trame (old)...)
Do. (new)...
Star Ferries
C. Lights (old)...... 25
Do
(1209)...... 820)
20.90/121
$11.65 36.00
$79
$194
8254
826
rc-
32C3
$21
3743
823
JAPAN'S COTTON
31
$12.90
INDUSTRY.
China Busesitu
Tractions
18/6
Do.
(pref)
TROUBLES IN PROSPECT.
Radio Corporation
The view that Japan is going to Reynolds Tobacco "H"
pass through the same troubles as Saura Roebuck...
8987 the American spinning section of Shell Urio
241 24 the Lancashire cotton trade was ex- Simmons Company
60 664 pressed by Mr. William Howarth, Southern California Edison ...
124 129 president of the Bolton Master- Southern Pacific Railway
... 124 1201 spinners' Association, when he was
elected to that position at the an
off a point to 40; and Chrysler was Standard Gas & Electric
off a point to 36.
י. י
The Dow Jones average for 20 atilities was off 2.20 to 103.96. Electric Bond & Share was off it to 1128 American Tel. & Tel. was off 4 to 83% and International Tei. &Tel. was off 1 to 728. Radio Corporation declined 4 to 64.
Standard Oil of New Jersey
Standard Oil of New York Texas Corporation Texas
Sulphur Gulf Timken Boller Bearing Trans America Union Carbide & Carbon Union Pacifio Railway...
nual meeting in Manchester
זי
On
82 es
89 38
58 60
April 8.
62
B11
82 81
811
...93
89
some pressure. He was quite sure
Japan, said Mr. Howarth, had
461 451 adopted the gold standard under
... 225 2211 Japan in the next two or three years would pass through a phase
B no lees danstrous than the Ameri
United Aircraft & Transport... 85 .86 United Dry Docks Consolidated Gas was of 5 to 130.B. Rubber Columbia Gas was down 2 to 81; E Steel
· Public Service of New Jersey Vanadium dropped 8 to 115; and Standard Westinghouse E. & M...
Woolworth Gas & Electric was off 4 to 120.
AMERICAN STOCK QUOTATIONS.
LATEST WALL STREET PRICES.
20 27
ea
84
ཋ;;མྨཱཛྫི༔
H.K. Electrics $74 Macao do
བ་བམ་-
Sandakan Ligita D
Telephones........... $124
Industrials
Caldbeck, 1(ord.).
Macgregor (pref.)
Canton Ices
Cements (coinb.)...
Do. (new)...
JUANTHA
Foochow Wei Bai Wei via Swatow Java via Batavin
Fort Bayard, Holbow, Pakhoi & Haiphong Tonkin
3traite & Calculin
374/1
Manila
$13
Swatow, Amoy & Fooshow Amoy.....
Straits, Ceylon, India, "Mxaritive, E. & S.;
Africa, Aden, Egypt & RTBOPE vis "Mareilles dra "Marseilles, 7th June!
due Victoria B.C., Slat May
Yatshing... Taiyuan ...
Teslay 6:h,
9:33
10,30 & 1
12.30
4,30
8.30
3,80 r
Thursday, 6th,
Kutsany Emp. of Canada...
Parcels Letters
Noon 1001
5.00 X
Friday, 9th,
Haichting Yunsang...
1.00
Kowloon P.0. Parcela 4.30 PM Boc., 10th 9.00 A N
Kashgar
Kanshow Tyndareua
T.11
T10
·321
$16 $16.45 16.25/. 46.
$18.30
Do 4*
$11
(old)...
$11
$8.20
Ropes
$8.10
Hoihow, Fakhoi & Haiphong.. Гарки
31,20 $11
China Sugars.
827
Malabon Sugars
$29
United Asbestos
Japan, *Caonds, *U.S.AC.& 8. America & EUROPE via Victoria, B.C.,-
Pres. Fierce
MiscellaneouLS
$25 $0.80
$25 $24/25
Dairy Farms...ziza
8241
$241
Shanghai & *BUROPE via Siberia
Pres. Pirron
...
Der A. Wings........
820
Amusements
$29
$30
31.10
Constructions
$1.20
Swatow, Amoy and Foodbow
Haijang
$3.75
$3114
Lane Crawfords
$2,37
$19
Mackintosh
Elraits, Ceylon, India, Mauritios, E. & 8.
Nanyang To
Tobacco...
$4
$12
$11 $2.85
Do. (new) Watsons.........
$10.10
$11.40
ax. int.ex
Ung.
can section in Lancashire had pass ... 188 185 ed through. "I am prophesying," 130 130 he added, "and it is dangerous to ... 193 194
prophesy, but I know that the world influences which so dislocat- ed the American section of our trade will affect Japan equally forcibly." Drapers told him that sometimes foreign goods were sold in this country because they had a little touch of art and colout which 6%pme appealed to the imagination of the customers. He thought possibly we had been a little too stodgy in our trade methods and had allowed trade to be filched away from us by those factors. Art and the at traction which a beautiful article had for the female mind were, points they ought to study.
The following quotations have been received from their cor: respondents, Messrs. Hayden, Stone & Co., of New York, by Messrs. Swan, Culbertson & Fritz, Sassoon House, Shanghai, (table address: "Swanstock," Shanghai), who are not responsible for cable mutilations:-
Tone of Market-Weak.
No. of Shares done-5 million. Call Money 31 per cent,
"American Emelting
Anaconda Copper ..... Baltimore and Ohio"
Borg Warner
Chrysler Motors
City Service Common
-EXCHANGE RATES:
[BRITISH WIEZLESS SERVICE]
Geneva
Amsterdam
34.845
Sinceres (old).........} $11
Wm. Powells.). (2) B. Ind. G. Bonds... 8322 H.K. Govt. Loan ...) #104
LOCAL AND REGULAR OUTWARD MAILS.
Africa, Egynt & EUROPE via Mar Patroclus seilles-dus Marseilles, 11th June...)
5.00
Letters 10.00 A
PO
Par, 9th, 5.ro Rey 101,9.4G & Y Letters 10.30 AM
Saturday, 10th,;
990 10.00 AM
Monday, 12th,
'arcela
Bez.
Letters
8.007 M
416 PM
5.00 2 w
g... 5.00
Letters 6.00 M
Tuesday, 13th,
1.39 Kowloon P. O.
BAR⋅
4.30 Letters 4.30 PM G.P.O
Ber. 5.00 M: Letters 6.00
W. dresday, 14th Parcels 6.00 pa
Shanghai, Japan, Canada, U..A.. C
&. America & KUROPE via Van- ! | Emp, of Canaña) Thuraday, 150,
conyer, B.C.-lue Vancouver, B 30th May & Europe via Siberia
Mansang
|Beg." 9.15 4X-
Fattere 10,00 Aa
Thursday, 15th
1.80
9.00 m
2.00 p 12,80 p.m. & 4.80 px. Baturdayn
1.00 pm &
Lonly
6.00 pm
11.01.
(11,00. -{& 4.30 p.)
BRAMON
P.O,
[7.30 a.m. &
8.30 am. Lonly.
8.00 pm
·6.00 pl
"Superscribed correspondence only.
Printed at the Hoxo KONG DAILY PRESS " Offic
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FORGET
Send your Overseas Address to 11, Ice House Street, and order the Weekly Press to be sent to you for
Three Months
WERK DAYS.
FROM G.P.O.
FEOX SHEUNGWAN BRANCH PO.
FROM G.R.O.
SUNDAYS & HOLIDAYS
Foox *SUKUNGWAN
Bandarar
NEW YORK, May 2, 1930.
Lant Dividend.
Latest Sales.
€7,15 mm. &) 1.7,30 2,m. 16.00p.m. 17,00 p.m.
(7.15 am. 8.00, p. Bundays
pm, only
7.00 pm... Bunday
2.00 p Lonly
59
RUGBY, May 2..
(7.15 m. & 17.30, &
--Paris
123.625
1.16 p.
1.33 m
New York
4.88 0/32
Macao & Tajnahan
( 1.15 p.m. pl 1.30 pm:
Bunday
SundaYA
33
Brussels
8.15.
30c A
28.07.
Curtis Wright Common
None
12.07
Eastman Kodak .....
BB
Milan
$2.745
Kongmoon (except Beturdays) 5.00 pa Kaukong (except Saturdays)....
6.00 pe
8.00 pt
Electric Bond and Share
6C.
105
Berlin'
20.385
Erie Railroad
None.
Stockholm
18.00
Fatahan (By Train)
7.16 0.
General Motors.......
Copenhagen
18.163
Tai O
-0.00
General By Signal
Gold Dust
Granby Consolidated
Goodyear Tire and Rubber
Oslo Vienna Prague
18.18
↑ 3,00 a.m, &
7.35. 9.00 .. 9,00 m.
34.405
·3041·
Tai Po
Shurachun
3,00 P
Hudson Motors
International Cement
Montgomery Ward
Nevada Consolidated
Radio Corp
None
Sears Rosbuck & Co.
2D
Simmons Co
Standard Oil Co. of New York
1.00
Union Carbide and Carbor
2.60
U.S. Rubber me
None
United States Steel,
* * C * * * * * * *
Helsingfors
193
Madrid
30
Lisbon
108,30
Athens
Buenos Aires... Bombay Shanghai Hog Kong
Yokohama Silver (spot)
Silver (forward)
375
Cheungchow
819
42 13/14
Aberdeen
Autam
1/107
1/8 2/01.
101
-10 5/18
+1/597/32
Baloghan, Santis,
Shatin, Shatanker, and Sheungahui
Balitang
(Famin)
تصبح 1:00
8.00p.m.
40
10,30 1,22,
-420 pas
Ramtan, Bbekki & Taiping
$3.75
Six Months
7.50
Twelve Months
$15.00