Money and
COTTON MARKET.
REPORTS FROM VARIOUS
TRADE CENTRES.
Messrs. Pentreath & Co. have received the following report from Mesars. Hornby, Hemelryk & Co. under date Liverpool, April 8:-
American Cotton.
The market has shown a steady tendency during the period under review, and, on balance, prices are practically unchanged.
The steadiness is due partly to further tightening of the May.and July positions in New York, partly to short covering, and partly to some manipulative buying. Another reason for the steadiness has been the rather larger business done" in Lancashire, and the calling of cot ton in this market.
Rumour has it that the Farm Board, or rather the Couperatives, sold on Friday some of tier July contracts, but we have been unable It to obtain any confrmation. would appear more likely that the Farm Board is holding out for 4 price of, say, 17, which would get them out with a profit In the meantime, estimates of the Farm Board's holdings of May and July combined run as high as 600,000 bales.
...
Markets
THE HONG KONG DAILY PRESS WEDNESDAY, MAY 7,193 1
CANTON TRADE
NOTES.
Arrivals of black sesame are very limited, and the price has risen, the current quotation being 821 per
DAILY SHARE ( QUOTATIONS.
Врут
HONG KONG STOCK
EXCHANGE..
Kate Boilers
The cotton yarn market is dead, and pricas remain low. There is practically no demand except some Tetails. According to a Shanghai | 81,400 | #1,405| telegram, the market there is also inactive.
With regard to the 230,000 cantarspicul of Sakellaries purchased in pre- vious seasons, this cotton is at pre- sent being shipped abroad to be sold for account of the Government It is belived that the Egyptian Government has decided to resell its stocks of new cotton at a moderate profit, so that spinners, will be able to buy their usual qualities during the remainder of the season, but, of course, pot be- low the Government's purchase prices.
*
The price of rice is still high.. There have been no arrivals from the East River districts. Supplies from Hong Kong have increased, and during the past ten days, some 7,128 piculs of foreign ries were
The demand for Egyptian yarn has been rather more encouraging.imported. Discussions are now, taking place among spinners regarding a pro- a price-fixing posal to establish scheme.
UNION INSURANCE SOCIETY.
The following report will be pre- sented at the 37th annual meeting of the Union Insurance Society of Canton, Ltd.. to be held on May 30
The Board has now to lay before shareholders a balance sheet con taining a summary of the property and liabilities of the Society oa December 31, 1029, and a statement of working decounts.
1928 Account-After payment of the interim dividend of $4 per share and the bonus of 20 per cent. to contributors passed at the last annual meeting, there remains a balance of £129,826.15.9 as per an nexed statement.
The Board recommends that a final dividend of 168. per share on 133.000 shares be paid to share holders, absorbing £108,000, and that the balance be carried forward to underwriting suspense account to close the account for the year 1023.
Notwithstanding the political uarest in India, which, by the way, seems to be subsiding somewhat, and in spite of the boycott of for eign cloth which the Bombay Coloured and Printed Piece Goods Merchants' Association has decided to pursue for three months, and of the passing in the Indian Legis lature of the bill raising the import duty on Lancashire goods from 11 per cent. to 15 per cent., there has Leen more business done with India.ed Trade with China has been on restricted lines, but China seems to show more disposition to come into the market.
2
We hear, too, that the, trade de- pression in Cermany is not so pronounced, and in America there has also been a distinct trend to- wards improved trade.
-Phe-weekly weather report was somewhat unfavourable, and accord ing to the Financial Chronicle," coldness has delayed planting dur- ing the past week, and some frost damage is reported in Texas to carly planted cotton.. Latterly, how." ever, the weather seems to have it proved.
Mr. Hester estimates the fertiliser sales in March at 1,010,000 tons, against 1,563,000 tons in March last year.
The acreage question is creating a good deal of discussion. Some people expect a reduction of 5 per cent., which would, of course, be meet the totally inadequate to situation. Others point to the fall- ing off in the sales of fertiliser and look for a larger reduction,
The price of wood-tar oil has had a sharp drop, being 819 per picul a compared with 840, the usual price. Wood-tar oil is imported from the West River districts and exported abroad in very large quan- tities annually.
Artificial silk has been in brisk demand by the populace on account Some 1,423 of its cheap price. piculs were imported during April. There has been also a healthy de- mand for piece goods, woven with artificial silk, and during last mouth, some 298 rolls were im. ported.
*
There has been a decrease of goods exported to America recent- ly in view of the report that the U.S. Government has decided to in- crease the rate of import duty as from May 1. Exporters declare that their business, which has been bad during the past few years, will be greatly affected if the import duties in America, are increased.
*".
+
1109
$893
Simu
SHAREBROKERS ASSOCIATION.
Numlan
TUESDAY. MAY 6.
Buy Beere Biominal
Banti
HK. Banks.................] $1,400;
Do. (London) Chartered Banks ... Mercantile Bks. “A'
!!
£18 £29
£16
FOREIGN MAILS
RADIO NOTICES.
The Radio Office, where full information concerning all wire- leas services may be obtained at all times, is situated on the ground floor of the P. & O. Building in Des Voeux Road, next to the General Post Office
Individuals and firtas are recommended to register their tale graphic address at the Radio Office. No charge is made for this.
The Parcel Post Service to Kwangsi with the exemption of that to Wa show, Kwailin and Pinglo, is suspended antit farther notice.
INWARD MAILS.
From
SWATOW
U.S.A. (San Francisco, 16th April),)
Taklison ...
PER
Duz
Van Houten
7th May
Tutiyaar
Kanchos... Sinking
Yuniang
Kasp.
of Canada....
8th May
Did May
9th May
9th 3.3
eils
£50
[219]
Do,
MON
Bank of East Asia.. | #112
Insurancss
$900
Canton Ins.
$875
$1.40 Underwriters
$1.70
$1.60
T.160 $470
TAR
North Chins
T160
$475 $470
Union Ins
$470
$470
Honolulu, Japan mod Shanghai.. SHANGHAI & SW-TOW-
M.850 Yangtze Ins...
$60
1985
China Fires
#336
Beinonai & SWATOW - Axor
$900 H.K. Fires
$900
Shipping
$291) Douglasca .........**
$21
12
Steamboats
196
$43
Indos (pref) ..........
160
$40
Do. (def.) ir
$80
94/7
Shell Transporta ...| 95)-
$282
$36)
Kuzors via buzz (Letters and papers, Londen, 10th Apell, and parce,
3rd April)
BATATIA
Tai Ping
T.I
T.9
0.8.4. (San Francisco, 25th April
Honolulu, Japan & Shanghai, U.S.A. (Ban. Francisco, 16th Aprî },,
HONOLULU, Javan & Shangus
Pien Taf
Ohichsbu Maru
19th May
2 th May
11111111
$188
᎒ ነ ፣ ፲፮ -
1
ex rights 389
Water-boats........
Mining
Benqueta.....
Kaikina
T1380 Langkats (comb)
T.7. Do. (single) T130 Explorations........................... T6.40"Shanghai Loans ....
91/-
Raube
Docks, Wharves, Godowns, sta
Tronoh Mines
18/3
!!!
164776
H.K. & K. Wharfs
$167
$5.60 #5.70 $6.80
$38
Providents...
T.129
85.50 85.70 $6.50/70
$37 T.1271
T8.05
The sugar industry in Kwang- tung has declined on account of a,
T8 plentiful supply of foreign sugar. T.260 Over 60 per cent. of the sugar re- 1929 Account:-The balance of fueries have gone bankrupt in 2077- working account on December 31, sequence. The Canton Reconstruc 1920, was £410,700.1.4 as per annex-tion Bureau is considering measures
statement.
The Board recommends that an interim dividend of 248. per share be paid to shareholders, absorbing. £182,000, that a bonus of 20 per cent,
for the relief of the industry, which was formerly one-of the most im- portant industries in Kwangtung.
Soap. manufacturers have been
T.1st
T.70
T.78
be paid to contributors, absorbing flourishing in recent years and about £20.000 and that the remain-there are over a hundred soap $12.80
factories in the city. Their pro- dar be carried forward.
ducts, besides supplying the needs of Kwangtung, are exported to
Directors,
Since the last general meeting, Kwanzai, Malaya and other places Mr. L., J. Davies, Mr. W. L. Pat Lin-large quantities. Demand for tendes and Mr. W. H. Bell resig-locally made soap is especially Fed from the Board, and The Hon. healthy this year on account of the
Mr. C. G. S. Mackie, Mr. D. O. Russell and Mr. J. K. Bousfeld rise in the price of foreign goods
caused by the exchange. have joined the Board.
803p of superior quality is not manufactured in the city and is imported from abroad.
In accordance with the articles of association. Mr. ". A Plummer band Mr. P. Warren, retire, but
offer themselves for re-election.
Auditors.
Messrs. Lowe, Bingham and Matthews and Messrs. Linstead and Davis, chartered accountants, re- tire, but offer themselves for re- election.
J. OWEN HUGHES,
Chairman.
Hong Kong, May 3,
If the price is to be maintained
Mr. A. J. A. Wallace Barr, on for American cotton, which costs more per lb. to produce than com- behalf of Messrs. Cellon, Ltd, of petitive growths, it is obvious that Kinston and Richmond, has offer- reed the British Gliding Association something more drastic than duction of & per cent, in acreage a prize of £1,000, to be competed will be necessary.
However, the for under the rules of the Royal acreage question is still in the lap Aero Clab, for the rat all-British of the gods.
glider flown by a British pilot. We stated last week that we which crosses the English Channel ups and between June 1, 1930, and May 31, rather expected small downs. That is really; what has 1929. Full conditions and regula happened during the past week, and tions will be announced later. Mr. Wallace Barr, who has taken great this situation may continue.
interest in aircraft since the early days, offered a prize in 1823 of £50 for a glide of 50 miles in a straight line. This prize, which has not been won, is stil open.
The price is reasonable, because, after all, we are much cheaper than last year, and we are not likely to have a carryover at the end of the season greatly in excess of last year, but, from now on, the weather and the Farm Board will need to be watched carefully.
Should we get bad weather, the market is undoubtedly ripe for an advance, but the Farm Board, with its holdings of cotton, in casting its shadow over the market, and pre- vents one having a definitely bullish opinion.
Empire Cotton
Bombay receipts last week only" totaled 84,000 tales, compared with 345,000. in the, previous week, and. the stock is now less than a year. ago, whereas previously it has been considerably, in excess of last year.
Our attention has been drawn to n factor which may have an adverse influence upon the narrowing of the Liverpool-Bombay straddle, viz., the proposal made by the bazaar not to trade in new crop contracts unless the constitution of the Bom- bay futures market is altered. Trading in new crop contracts should begin on May 1, and if there is any delay, it is possible that in the absence of a distant hedge, there may be heavy hedge selling of July contracts.
Egyptian Cotton.
The market has been more active during the past week. Continental and Alexandria, buying orders of November and January found a okreslsun. Nears, WHAK- ever, have suffered compared with distants owing to May liquidation The Egyptian Government's pur chases up to the end of March total *762,000 cantars of Bakel and 618,250- eanters of Ashmouni, inclusive of 297,230, canfars purchased for de livery this month.
Toilet
零
$20.00
*
New Engineerings
H.K. Docks
Shanghai Docks,
"Hongkows
Cotton Mil
S'hai. Ctons (old)...!
Do.
(new).
T.10 Zoong Sings......
Ewoo
Public Utilities
***
[T13.10] ax rights
120
Do (new)... $51
Telephones............ $12.60 $12.90)
***
:
CALCUTTA & STRAT1”
CATADA (Vancouver, BC, 17th Apri}), UBA, HONOLULU, JATAN SHANGHAI & Euroue via Siberia (Londo, 18th Apr) DAA (Seattle, 19th April), Canada,
Japan & SHANGHAI SINASIN
Fres. Jackson ... Lahore
Khin
Thikarang Tyibadak
AMOT & SHANOWA
M
Australia & Marija
He
Fox
PER
11th May
15 May
May
OUTWARD MAILS.
REGISTERED and PARUEL MAILS are closed 15 minutes earlier than the sims given below unless otherwise stated, and where mails are advertised to close at or before 9 a.m. registered and parcel mails are closed at 5 p.m. on the previous day.
DATY & TIME
Wednesday, 7th,
8130AM. 2,30
3.30 e
4:30 pm
Thursday, 8th,
$30
10.30
AN
Noon
Bulang... Bydrangea
my. of Vasarlari
100 M.
1.30 FX
Strmita, Ceylon, India, Mauritius, E. & S..
Africa, Aden, Egypt & EUROPE vis}| Kashyar Marveille-dne Marseilles, 7th June]
Kowloon P...
Parcels
430 71 4.307 10th,9.00 Lettora 30.00. 6.2.0.
t'mr., 9th, 6.00 ▼ ■
Ker 10th,9.45 A N
Hoihow, Fakhoi & Haiphong
|-Shanghai, *Japan & "EUROPE via Siberia Khion
Swatow... Fort Bayard
Talebing...
Wing Lee
Amoy
Taiyuan
T.16. Ta,70
Shanghai and *KUROPE via Siberia
Glenifer
Lands, Hotels and
Haiphong
Ninopo
Buildings
Straila
Van Beuter
EK. & 8. Hotels...112.70
$12.75
Stralia & Calcutta
Parcels Letters 1.00
$75
#79 $75,2
E.K Lands
$75
70//
B-ad0w...
8.00
T.265 $9,60
Shanghai Lands
Manila
5,000
39.60
H.F. Realtys
3143
Humphreys
*
69.80 $14)
$9.75
Friday,
(913)
-$98-
Chinese Estates
Amay-
Yurking
Parco s
NDOM
Straits & Calcutta
Takliwa
Loster
1,00
Swatow, Anioy & Foochow
Faiching
Tramways -----
$20 $21
20.70/180
Haiphong
Canton
$11.65 Peak Trams (old), $11
96.05
180/70
Ferries
$251
321
C. Lights (old)... $26 (now)......- $21.
"$20
$75
744/51
HK Electrics. $75.
741/70
EXCHANGE RATES.
[BRITISH WIRELESS SERVICE.]
23
Macao do
$3,60
Sandakan Ligita....
$12)
Ti
China Buses on
RUGBY, May 5.
1.10/m
Tractions
123.85
18/6
Do. (pref.)......!
4.80%
Industrials
Brussels e
34.84
£3.085
13.075
T.11
92.73
20.385
T.10 $24.
Stockholm
16.095
$16.08 $16.10
$11
Copenhagen
18.105
241
Ова
18.16
Vienna Prague
34.485
Helsingfore Madrid Lisbon Athens
193) 29.32
*31 $1.20
25
$9.20 Ropes...
827
108,30
375
Bucharest Rio
818
5%
43 9/18
$257 €0.80 $20
1/5 3/10
31.40
1/101.
327
1/6
$18
9/01
19 8/10
$12
191
$11
Watsons
$11:40
$2.85 Wm. Powells
$21:
prom.
B. Ind. G. Bonds 65% HK. Govt Loan ... $104
Paria
New York
Geneva
Amsterdam
Milar
Berlín
Buenos Aires
Berabay Shanghai Hong Kong
Yokobama Silver (spot) Silver. (forward)
AMERICAN STOCK QUOTATIONS.
LATEST WALL STREET PRICES.
The following quotations have been received from their cor- respondents, Meaars. Hayden, Stone & Co. of New York, by Mears. Swan, Culbertson & Fritz, Sassoon House, Shanghai, (cable.address: "Swanstock," Shanghai), 'who are not responsible for cable mutilatione:——
Tone of Market.--Weak, No. of Shares done:-8,000,000. Call Money-3) per cent.
American Smelting Anaconda Copper Baltimore and Ohio Borg Warner Chrysler Mators City Service Common Curtis Wright Common Eastman Kodak Electric Bond and Share
30c.
Noac
$254/1
$8,10
Caldbeck," ' \(ori.) Macgregor (pref.) Canton Ices Cementa (comb.)... Do (old)... Do. (new)...]
China Sugars... Malabon Sugars United Asbestos
"Miscellaneous
Dairy Farms, Der A. Wings........ Amusementa................ Constructions
Lane Crawfords Mackintoshs
Nanyang Tobacco...
Sinceres (old)... $11
Da (new)... #10.49
Japan
+
*Bestow & Foochow
Amoy
Bwatow, Amoy & Formoss
SIP 20
Bangkok via Swatow ....... :
Japan, "Canada, #U‚§.A., °C‚&#S. America EUROPE via Victoria, B.C.,-
$29
due Victoria B.O. 31st May Shanghai & EUROPE via Biberia
J
$25
$23 $30
$1.20
$31
LOCAL AND REGULAR OUTWARD MATLS,
8.15 *** Lonly
Kanila dwatow, Amoy and Foochow Straits, Ceylon, India, Mauritius, E. & E Africa, Egypt & EUROPE via Haz- seilles-dae Mineilles, 11th June!
9.30 AM 10,00 ▲ 20.00 M 5.000
·5.00 va
Sunday, 11th,
Lettore 10.30 ▲
Saturday, 10th,
Kundkow
Tyndarous
Chip Shing
Anking.
Canton Maru Kalgun
-9,00 .5
-9.00 A
Monday, Parcels
Pria Pierce
Beyon
Beg
Pres. Pieroa
Tikarang
Haigang...
Patrockis
፣፣
BLUF 415PM
Lottery 5:00 2
Lettern
5.0.PK
Whanghai, Japan, Canada, 0,9., C &e. America & *1⁄2 UROPE via Van Conver: B.Oue VanCOUVER, B., 80th May & Europe viz Bfberis
Emp of Canada
1Letters 6.00
Tuesday, 12th,
10.30
· 1,00, »»
Kosčloon P. O. Reg. 430
4.30 r G.F.U.
.5.00 ■**
Letters
Wednesday, 14th.,
£30 Parcels. '5,tx).r, I Thursday, 15th, Blog 9.15 M Letters 10,00 a m
Thursday,
1.80
Bardakan
WEEK DAYR
Flow G.P.0.
From SKKUNGWAN BEAXON P.0..
FROM G.P.O.
SUNDAYS & HOLIDAYS
From |BERUNGWAN BRANCH
New Yox, May 8, 1930.
(7.18 am, & (7.30 KM, &
Canton
Last Dividend.
(7.15 m. & 1 7.30 a.m 20.00 parti :) 7.00pm.
6:00pm.
7.00 pe
Bundays
Bundays
Sales. 67
(5 pm, only
1.00 p.m.
35
113 37.
5.7.18 . &
Macao & Trish
1.15 p.m.
7.30am. 11.80
1735 & 57,300
1.16 p.
∙180
Sundays"
Missing
Kongmoon (except Batards Kankong (except Batt
5.00 pa
6.00 po 6.00 pat
5.00 pm
6.00 pm.
None:
Fatahan (By Train)
7.15
7.15 am
T10
100siti
8,00 m
9,00 1.20.
11,0 m.
$11.00 am
{ & 4.80 p.m.
· 1,001. p, pē
Aberdeen
None
Stanley
1.00 pm
1,00 p
2 D
Autan Fingahan, Bar
Shatin, Shataukok
300 p
10.30 MENU
Simmons Co..........
Standard Oil Co. of New York
1.80
Shbingabul
Union Carbide and Carb
2.60
Halkung an
480 PA
U.S. Rubber
༧༦༣༣་:
Nore.
Hamtan Shakk! & Taiping)
United States Steel
......
Erie Railroad
General Motors rai
General Ry. Signal
Goodyear Tire and Rubber
Granby Consolidated.
Gold Dust
Hudson Motors
International Cement International Nickel -.
Montgomery Ward Nevads, Consolidated, Radio Corp Sears Roebuck & Co.
Tai To
Shumchun
Cheungchow
(Fumid)
-9,00
8.00 pm €9,00 12.do p
(12.80 p.m.
450 p Saturdays
Chaksang
Monsang
"Superscribed.
ondence our
Trade Notes & Statistics
Are, always of interest to Progressive
Business-men. You will find many
important facts, and figures about
South China trade in the Weekly
Press. Price 30 cents a copy,
per annum post, free to
address in the world.