12
THE AMERICA CUP.
LAUNCHING OF THE ENTERPRISE.
· FIRST OF FOUR AMERICAN -
YACHTS,
[UNITED PRESS.}
New York, April The laun ching of Sir Thomas. Liptor's Shamrock Y. and of the Enterprise, first of the four American conten- ders for the honour of defending the America's Cup, marked the start of what promises to be the greatest of 'yachting seasons.
The Enterprise was launched, at the historic Hereshoff Yards" in Bristol R.I., which have built every successful American Cup contender since the Vigilant, the winner in 1800. Shamrock V. took its dip at Gosport, England.
Champagne Christening. Beth" launchings were marked with picturesque coremonies in cluding christering with pagne. The Countess of Shaftes bury shattered a bottle across the bows of the Lipton boat, while Mra, Winthrop W. Aldrich, wife of a member of the syndicate for which the Enterprise was built, braved the wrath of temperance or ganizations by performing a simi- lar ceremony at Bristol.
THE HONG KONG DAILY PRESS, MONDAY, MAY 26,
Money and Markets
METAL MARKET.
Messrs. Pentreath & Co. have received, the following report from Messrs. Horeby, Hemelry & Co. dated Liverpool, April 24:-
Uoppar.
Close yesterday:-Cash: £33.26 last week: £30.13.0. Three months:
33.2.0; last week: 905.17.6. New York: July 13,000.; "last week
13.50c.
RUBBER REPORT;
Messrs. Hornby, Hemelryk & Co. repert under date Liverpool, April
-
The holidays have, of course, affected trade. enquiries, which have been almost entirely absent during the past week and speculative ic terest, is almost at a standstill. However, the market shows no sign of weakness, and a little trade en- quiry would quickly alter the situa tion.
The buying wave which was ex- pected to follow the reduction in
We mentioned in our last review the selling price of electro has not that the American stock figure of so far developed, and confidence 168,316 tons called for some ex generally is still lacking, particular-planation. Formerly the data col- ly amongst domestic consumers, in the U.S.A.
lected was taken as being 90 per cent, representative of the industry, It may, of course, he urged that but it seems that it is now con the holiday season, combined with sidered as being only 50 per cent. the knowledge that ample copper of the actual Egure: hence the ap ir available when needed is responpareat increase of about 13,000 ton chamsible for the tardiness in demand, over and above the actual increase
hat other factors adverse from the of about 9,000 tons. consumers' point of view, such as Estimates of American consump- the naval restriction programme. tion for the second quarter of the have to be considered. The stan-year are about 120,000 tons." dard market is certainly fat and The action of the U.S.A. Govern overshadowed by short selling, so ment in raising the import duty on that the decline since the holidays, long staple cotton should lead to has widened the margin below elecineroased consumption of rubber. tro to over £10.0.0 per tou, but as American tyre macufacturers will Champagne christenings are stabilisation of electro, at even 14c. naturally seek to employ substitutes traditional, although four Ameri-per. lb. cannot be depended upon, a for Egyptian yarns, and the life of ean boats of the past-the Puritan, fluctuating standard market is not tyres will undoubtedly be material Mayflower, Volunteer and Jubilee surprising..
ly lessened. were christened with mineral water. British yachtsmen believe the Shamrock V has the best chance for victory of any British boat since the races were inaugurated | in 1801, when the schooner yacht American defeated 14 of England's best in a race around the Isle of Wight. The 14 cup races since that time have been held off the Ameri- can coast, and Great Britain has
never won.
Great Britain's hopes are found. ed on new rules which provide that' the yachts abali be constructed to conform with Lloyd's Scantling specifications. · Previously
British contenders had to be sturdy enough to sail the Atlantic prior to the aces while American boats were light craft especially constructed for racing
The Shamrock V., Sir Thomas Lipton's fifth contender since he entered America's Cup competition in 1899, will be tried out on the Solent late in May in a series of races under suspices of the Royal Tharnes Yacht Club. It will sail to America later in the summer and complete preparations in this
country.
Our New York correspondents cabled last night that the situation is seriously disturbed by the pros pect of a further reduction in the electre price. The trade believes that probably the price will be fixed at 19c.
Tin.
Close yesterday—Cash: £181.5.0 ;. last week: £164 12.6. Three months: £103.10.0; last week: £168.13.0. Now York: July 33.dbe.'; last week: 30.35c.
In common with other metals, tin has been flat since the holidays, and slight selling pressure has quite exaggerated the downward price movement.
-
The response to the publication of the new basis for curtailment of output has, ao far, not been ca- couraging, but the market seems inclined to discount the more mediate prospects of some further increase in the" visible supplies at the end of April. The first of June statistics are looked to for some reflection of the curtailment scheme,: and should Americap deliveries combine satisfactorily, a substantial decrease in the visible supply should result.
"Our New York correspondents cabled last night that the market is dull but steady.
|
Stocks: London 73,239 tons, Liverpool 92,603 tons a net inèrease of and tops.
Now that the holidays are over. the market is looking for an im proved demand, and we hope that the new few weeks will bring a period of much inore activity, "
1930
DAILY SHARE QUOTATIONS.
HONG KONG STOCK
EXCHANGE.
SHAREBROKERS“ ASSOCIATION.
Mayara
deliers Opis Namina?
SATURDAY. MAY 24.
Buy Galları
·Jalse Nantast
$1,445
$119
115
£112
£17
Banka
£99
F.K. Banks
Da. (London) ........ Chartered Banks ... Marcantile Bks. “A'
ง Do.
£13
$1,440
MADE
FOREIGN MAILS
RADIO NOTICE.
Individuals and firms are recommended to registar their tale graphic address at the Radio Office. 'No charge is made for this.
SUPT. MALI S.
CANTON... MACAO
Kinshan... ...Sui Tai
...Saila 10 pax 16th May.
Salt
I,
S6th May.
INWARD MAILS."
FROM
PER
Dox
Bank of East Axia... $119
Insurances
CALCUTTA & STRAI 'Manita
140
**
603
Takada Free Tast
26th May
26 May
894
Canton Insurancos.. $940
33.15
Underwriters
$3.00
T.160
9.473
#475
North Chinat.........................) Union Insuranos...
T160.
BATAVIA
***
$480
DANDIYAN
M.850 Yangtaza Insurances,
$80
$400
***
$930
China Firesses) | #355 H.K. Firesmiti
3900
Canada (Vancouver, B.O., 8th May), {}
U.S.A, JAPAN & SHANGHAI
U.S.A) (San Francisco, 3rd May}, {}
HONOLULU, JAPAN auŻ SHANGĦAL LONDON Froels Zith, Apr., & STRAITE 'GAYAN M SHANGHAI .........
(
Emprias of Russia
10:1 Mar
I
Tysondar
seth lay
***
Tillwong...
YS.h May
Tango Maru
18th May
Histor
20th May
Suwa Maru
• Juta May
Shipping
$22
Douglases
321
$26
Steamboats
$25
USA. (San Francisco, and May),
HONOLULU, JAran & Skangusi JAPAN &SBÁƑGĦAL JATAN..
Free. Harrison Genk Helsingor Sydney Maru
Slat isy
th. June
543
Indoa (pref.)
$50
Da deli
$80
8331
OUTWARD MAILS.
REGISTERED and PARCEL MAILS are closed 15 minutes carliër than the time given bajow unless otherwise stated, and where mails are advertised to close at or balore 9 a.m. registered snd parcel mails are closed at 3 p.m. on the previous day.
872
M
$29)
!!!!!!!!
:
98/0 Shell Transports ...
$33.
Water-boats....
Mining
Banqueta.. Kailans
T1310 Langkats (comb.) ...
T.7 Do. (single)
TI.15 Explorations..
Tronoh Mines 1999 19/3
omi**
Raube
T5.65 Shanghai Leans...!
31/-
$22
THUTH.
T14
Docks, Wharves,
Godowns, alo,
$1784
$101
T.8
178/9
86
$5.85/. 90
H.K. & K. Wharfs... $1784 Providents....... 3590
$5.85/.00
H.K.. Docks
$41
2.13
Shanghai Docks
T.132
New Engineerings
T8.30
Hongkows
Cotton Milla
**
Ewo
Close London last night:-Spot 260 74d., July/Sept. 7.11/16d., Oct/ Des. 7.15/16d., Jan./Dec. 1931 34d.
Our New York correspondents cabled last night that easier ad- vices from London and May liquida- tion are depressing factors Re- ports from the tyre production centres show improvement.
Close New York last night: Old Contract: July 13, 90c., Sept. 15, 60c.
New Contract: July 13, 33c., Sept. 13, 36c
NEW ON
15,000 BARRELS A DAY.
$13
****
$13.60
T.10 Zoong Sings
T.101
T.86 Shai, Ctons (old)... T.85 T.85
Do. (new)... T.84
Lands, Hotels and
H.K. & S. Hotels H.K. Lands Shanghai Lands
H.K. Realtys Humphreys Chinese Estates
Public Utilities
Tramways.....
Peak Trams (old).
Do.
Star Ferries
CL
R!!
****
FOR
Straits, Ceylon, ludia, Mauritius, E. &. 2.
Africa, Egypt & EUROFE ris Mar-}| Perseus Bully-uke Bareilles, 97th June ...
Snabow ...
Japan, Canada, U.S.A, O. &. America
a ❤ËUnúrË via Victoria., B.C.- dao Victoria, B.Q., 18th Juna
Shanghai and KUROPE via Siberis Amus
IW
та
Swatow, Amoy & koochow Manila
Bobow, Pakbor and Haiphong
Swatowin
Sandakan
Amoy
Shanghai, Japan, Honolulu, USA
Canada, Central & South America, and EUROPE via San Francisco dze San Francisco) 15th June, and
EUROPE via Siboris
*PER.
DATE & TIMX
Mouday, 96th, Kosaloon P. Ú.
1.00
Leters
G.PU
Leg.
Lattara
Bydrangea
9,00
Pres, Taft
razosis „3,00 2 M
Key...
4.15 PM.
Letters 5,00 P
6.00 -
Prea. Taft Kanchine...
Beg.
5,00
te blets
15
3,2UPX
Toesday,
87:
Hai Ning... Emp. of Russia:
2.00
5,30
Wednesday, 28th.
Ohangtu
Hineng.... Trinan
Hangrang
Reg.
8,30 A
8.30.M
1.50 2.
3.50.3
6.00 x
Chichibu Maru (Lex. 29th, 8,80 KM
Buliding. **
$12.60 9123
8831 T.272
319.60 $13.80 883
$18
GUSHER IN OKLAHOMA.
$10,90
108
8161
$11 !!
$18.86
$20.40 $20 830
8132 $6,10
$20.40 $20.55 20.25/55
$12) (now)...[ 361
Japan
835
$65 Ba $283 $231
Lights (old)......
Do.
(new)...
8238
870) $787
H.K. Mectrics
#78)
$281/80
$72
Caloutin via Straita
Swatow, Amoy & Foochow
ACH
823
Macao do.
Sandakan Lights.....
13/
214.
Telephones......
#14
134/14
T.19
Chica Buses- commo
***
10/.
Tractions
BA
18/8
Do. (pref.).
Industriala
T10.70
Caldbeck, Word)
T.11
Macgregor (pref.)
$9
Canton fees.........
$16 $18.35 16.35/40
Do (old)...
Do,
(now)...
39
Bopes
[UNITED FRESS.]-
Oklahoma City, Okla., May 17.- A new Oklahoma oil "gusher" has Load.
burst forth here, with a well belong" Close yesterday: Prompting to the Phillips Petroleum Co. £17.15.0; last week: £18:11.3. defying all efforts at control. Forward: £17.16.3; last week:
Three Other Candidates. The other three American candi- dates are expected to reach the water within the next month. The Weetmoe is being built at the Here- shoff plant in Bristol and will be launched in early May
Whirlwind £18.12.6. Designera of the have announced the boat will not
he launched until the paint is well dried-probably on May 10. The Yankee, Boston's candidate, will be the second craft to be completed ut the last to be launched. The Whirlwind blacks the entrance to the shed at Neponset in which the Yankee is being built and it will to imposible to launch the Boston boat until several days after the rival yacht takes its dip.
Observation races will be held on July 7-14 and August 20-30 off Newport. The results of these Taces will determine the selection of the American contender to meet the Shamrock V.
The cup races start September 13, the winner to be decided on the basis of the best three out of five races. Races will be held daily. except Sunday.. Either boat will be permitted a one-day postpone- ment of any face and the - com- mittee has the right to postpone races for any reason.
COLONY'S FINANCES. :
The financial statement of the Colony for the month of January, 1930, is a follows:-
Balace of assets and
liabilities on Decem-
bor 31, 19298 9,002,852.36 Revenue from January
-1 to 31, 1930.42,100,948.17.
én diture from January. I to. 31,
Balance
$12,093,800.53
1,482,873.30
810,610,927.14
CHINA'S EMBARGO ON PRECIOUS METALS. AMERICAN COMMENT.
(UNITED PRESS.]
New York, May 17-Finance writers here express the opinion. that China's new currency embargo is principally directed against the dumping or Frigo
The gold embargo ig.considered. not surprising, and relatively un important on account of the small metal stocks in the country and the fact that China, is still on a silver- standard.
Lower prices have ruled, and although consumption cannot be considered poor, supplies continue much in excess of demand, and some heavy short selling yesterday found weakness.
chance
It was estimated by experts here to-day that 15,000 barrels a day were shooting out into the air in spite of frantic attempts to bring the well under control by a cap.
Authorities fear that spark may ignite the gusher and, therefore, drilling and automobile Statistics are not favourable for driving has been prohibited over $11.10 higher prices, and producers appear a wide area at the edge of the unable to decide whether a 3 per city and surrounding the field.. cent, or a 10 per cent. eut in out- put is essential.
A good demand is expected from
cable makers, and this industry in view of ever increasing stocks The market continues flat, and in Germany is reported to be more through the abnormally poor de satisfactory.
mand it cannot yet be said that still lower values may not be seen,
Silver. Close "resterday: Prompt: 19.13/16d.: last week: 198d. For. ward: 191d.; last week: 19,9/18d..
Spelter. Close yesterday: Prompt: week: £17.18.9. £170.3 laat Forward: £17.17.8; last week:
18.8.9.
(Continued as next Column]
AMERICAN STOCK QUOTATIONS.
LATEST. WALL STREET PRICES.
The following quotations have been received from their cor respondents, Messrs. Hayden, Stone, & Co. of New York, by Mosers. Swan, Culbertson & Fritz, Sasapon House, Shanghai, (cable address: "Swanstock," Shanghai), who are not responsible for cable mutilations:---
Tone of Market-Firm.
No. of Shares done,-2,500,000.
Call Money.3 per cent.-
American Smelting
Anaconda Copper Baltimore and Ohio Borg Warner
Chrysler Motors. ................ City Service Common Curtis Wright "Commod
NEW YORK, May 23...
AUTHE
827
#
Cementa (comb.)... $16.95 $16.50 $13.40
China Sugarma Malabon Bugars ... United Asbestos ...
Miscellaneous
Dairy Farms Dor A. Wings.. Amusements Constructions
$3.70 Lane Crawfords
8261
$1
$29
81.70
$1.80
$18.
Tabacco....
812)
312 812.40
Watsons $2.65 Wm Powells
$12.40
'69°1.
B. Ind. G. Bonds... 88% H.K. Govt. Loan ...] $108
premt
39
UHTIMINE.
HUDU
$3.75
LOCAL AND REGULAR OUTWARD MAILS.
$11
$42
Manila
$99
$283
WEEK DAYS,
FOR
G.P.O.
FROM [SHEUNGWAN BRANCH PO
SUNDAYS Á HOLIDAYS
FROM Trox SETUNGWAN G.P.O. BELTON
P.0.
(7.15 am & 17.30 simi 16.00 p.m.
(7,00 pittle
Bundays.
Thursday, 29th,
Protorilaus:
10.30 AM
Biraits, Ceylon, India, Mauritius, E
South Afrion, Adon, #Sgrplani *KUROPE vi Varmilos-de sollins, 30th Jane
Yuenning Haiching
Friday Parcels
Noon
Letters 1.00-PM
·1.00 v M, Kowloon P.0. Bag 430 v M. Lintuera) $.80 Pu Q.P.U.
Stroa Mar
Beg.
Straite, Coylon, Ladia, Mauritius, East &
South Africa, Egypt & Europe via|| Khyber Marsoilles-due Marseilles, 29th Junėj
Aigan, Straits, Ceylon, India, Mauritius, East and Zouth Africa, Ades, Egypt & EUROPE is Marseilles- une Marssilles, 6th Jay
Swalow, Amoy and Foochow
Manila, Australis (except Placas North of Townsville) and New Zealand via
·Brisbane mine Brisbane 19th June
Prea. Harrison
Genl Matainger
Hasyong
Letters
5:00 PM
8.00
Bigon P.U. Parcela - 4.30 FİMİ
Letters 16.00
G.1.0. Par 30th, 6.00
26 318ty 9.45 A
Letters 20.30
Saturday, 37
• 5,00 € M
Tuesday, 3rd, Kowloon P.0.
10.30 A X
Letters 10.30-
Reg.
G.P.O.
1116
Letters. Noon
Noon
Thursday, 5th;
Sydney Maru.
RAH
Straita, Ceylon, India, Mauritius, E. & 8. Africa, Aden, Egypt & KURUPK vis Marseille-cina Marseilles, 8th July J
Khiva
"Superscribed correspondence ontr.
Lottery
4.15 PM 5,00
Friday 6th, Korsioon P.O: Parvala 4,802 M Beg., 75,9.00 A Letters 10,00 AM, G.P.O. Paz., 6th, 500 eu [Beg., Tik, 945, 5'x
Letters 10.80 ́a
77.16 km, &) (7,80°xim, á
5.00 pm 7.00 p/
Sundays (Sp.m. only 7.00 p.m..
[only
[7.18. & 7.30 am, &
1.80 p.
Sunday
8.20 km Lonly
FACTS AND FIGURES
LastTMTMTM Dividend.
Latest Sales
372
59.
· 114-
30
- Macso & Tuinahan
( 7.15 mm, 4) 17.30 am. *{ 1.15 p.za.
1.16 p.m.
11.30 pm
Bundays 8.168.
Eastman Kodak
..............
300, A None 8B
33
only
11
Kongmoon (except Saturday) 8.00 pm
·6.00 pz.
4.00 pe
6.00 pm.
Electric Bond and Share
60
101
Kaukong (except Saturdays)......
-6:00 pm.
6.00 pe
Erie, Railroad
None
Fatsban (By
7.15 m
General Motors
51.
'F
Tai 0
9.00a.m.
9,00
General By Signal
Tai Fo
Goodyear Tire 'and Rubber'
Shamehan
Gold Dust
Granby Consolidated Hudson Motors ...me International. Cement International Nickel
Waver
Novada Consolidated. Radio Corp ****** Bears Roebuck & Co. Simmons Co
*Cheung
(9,00 ■.m.
23,00 p
( 9,00 mm. &
12,00 m,
12.30 p.m.
& 4.30 puh.
Saturday 100p.m.
9.00 19.10.
110am
(11,00
£&£30 p
1.00-p...
None
Aberdeen Stanley
5.30
1,00
Antan
SE
#Shatin,
and
8.00 p
10.40 a.mt.:
"Standard Oil Co., of:?
1.60
Union Carbide and. Car
2:60
4.30.p.m..
4.30 Pla
T
It is forecast that Indo-China ill soon take similar action
U.S. Eubber, the
United States' Steel
the Busy Business-Man
erested in Hong Kong and South China. The Weekly Press (price so cents) will be mailed for a year to any place
in the world for $15. Specimen
Copy