12
Money and
METAL MARKETS.
Messrs. Rudolf Wolf & Co. re- part under date London. May 2:
Markets
Options:-Double £6.5.0; Single
£3.3.0.
Cash
..
Opening. Closing.
£31.15.0 Est. Three months. £31.30.0 £50.12.4 Turnover for the week 3,132 tons.
Lead.
Lead.-Values have cased off
Markets have all declined through- out the week. The Bank Rate was reduced yesterday from 33 per cent. metals and the indifferent trade slightly, in sympathy with other to 3 per cent., but had no appre-demand the support afforded" to ciable effect on prices.
the market has apparently prevent- ed a more serious fall.
Options:--Double £1.10.9; Single
Opening. Closing, £17.13.9 £17.5.0 £17.13.0 £17.3.0 .....£17,13,0 £17.7.8 $17.13.0 £17.7.6
Taraorer for the week 4,030 tens. Spelter.
6
THE HONG KONG DAILY PRESS, FRIDAY, MAY 30, 1930.
COTTON REPORTS. DAILY SHARE QUOTATIONS.
4|
Messrs. Pentreath & Co. have received the following reports from Hornby, Hemelryk & Co. dated Liverpool, April 20 :—
American Gotica."
Since our last review, quiet con- dition, have prevailed. "July was quoted at one time on Thursday et 8.30d, but values have fallen away again and now show little change on the week.
The initial advance was engender- ed by some nervous short covering in New York when it was definite- terests were making arrangements ly known that Farm Board to take up May tenders.
in-
The weather has been generally favourable during the period un- der review. Beneficial rain, have fallen in West Texas and in Oklahoma, but it is doubtful whe ther the precipitation has been suf- Reient to relieve the drought of the past few weeks."
Tin has suffered a severe setback in spite of considerable support; | 13- the statistics published yesterday
May were worse than anticipated and
June the market throughout the week July has been subjected to heavy liquida-August
The notice issued on Friday against May contracts were some- Aior and bear selling. On Mon-
what larger than generally expect kay, there was a little better tone
Spelter has continued to decline, ed and totaled 997,000 bales in New u the afternoon, as America was and the price is down about £1 York and 20,000 bales in New Or Jeported to have bought, but the since Our last report, Enquiryleans. These teaders were promtly price gave way the next day and from consumers is disappointing taken up by the Co-operatives, but has been constantly receding, touch- and there has been a fair amount the effect of this was offset by some of selling for Continental account. selling of new crop deliveries on ing to-day £151.5.0, but closing The low price, whilst not stimulat reports of rain in West Texas.
bove the lowest. Mail advices ing any enquiry, has made sellers. from the U.S.A. say that there is in Belgium reserved, and it is diff
fairly good demand from con-cult to obtain offers of metal from aimers for prompt and early ship that ecuntry, ment, but that they are not com The market in America has mitting themselves for forward purchases, they apparently not haring much confidence in the future. The tiaplate industry here is not up to expectations and although there is a reported in crease in the production of Ford mator cars, it is anticipated that this will be offat hy a big reduc tion in the total number of auto- mobiles produced in the U.S. this year. It is thought the visible supply at the end of this year will show an increase of over 10,000 tons compared with figures December, 1920, which would indicate that the curtainent scheme is not far-reach- ing enough, and that consumption for 1030 had been over-estimated, Baril it is seen that there is n possibility of continuous decrease In stocks, any sustained improve. men: cannot be expected.
Sales in the East during the wech amounted to 1,773 tons: Pre- miurs on Straits and Banka. are quoted at £2 and £3 (nom) respec- tively.
Options:-Double £19; Single £6.
Cash
Opening. Closing.
£156,13.0 £150.3.0 Three months... £169. £159.7.6 Turnover for the week 3,300 tons.
The acreage question is still for from settled, and, according to the Fossick Bureau, there will be little or no reduction except that which may be brought about by financial sagzed, and conditions are appar-restrictions. Such restrictions are, ently unchanged. The heavy stocks however, not likely to assume very there which are expected to still important dimensions. More than further increase discourage buyers, one crop has been produced with and there would appear to be little very little financial help, the serious curtailment of output, grower managing in some kind of whilst the galvanizing industry is a fashion, and the livestock being still very backward on the whole. forced to forage for a living as Options-Double Single £1. other opportunities for work are
Opening. Closing. very limited.
May June
£17. 5.0 16. 7.6 £17.10.0 18.12.9 July
£17.13.9 16.17.6 August
..... £17.17.6 £17. 1.3 Turnquer for the week 5,050 tons.
EXCHANGE RATES.
(BRITISH WIRELESS SERVICE.]
Paris New York Brussels
Geneva
Amsterdam Berlin
Ruday, May 29.
123.94
4.80 1/16 34.895
In the meantime, the Daily News Record estimates a decrease of 2.6 per cent. in the acreage at a total of 46,334,000 acres.
Manchester reports remain dis- couraging, but the cloth demand showed t Little improvement to wards the end of the week. The paucity of demand is only natural ia view of the disturbed political situation in India and in China, although we hear that the price ruling at the Just Shanghai auc tions showed a little all round im provement.
---
American textile advices are only fair, and there is some talk of fur- ther curtailment of production in the Greenville district, mills to work alternate weeks or three days a week
نائم
HONG KONG STOCK EXCHANGE.
SHAREBROKERS
ASSOCIATION.
Sellers "Bales Nominat Buyers
THURSDAY, MAY 29.
Buy sen
Sellare Salas omical
FOREIGN
MAILS
RADIO NOTICE.
Individuals and firms are recommended to register their tale- graphic address at the Radio Office. No charge is made for this,
INWARD MAILS.
FRUM
Banks
$1,473
H.K. Banks
$1,475
£113
Do. (London) ...
17 1920
Chartered Banks
Mercantile Bics. "A"
£18 £30
£121
Do.
9110
Bank of East Asia........] $110.
Insuzanons
$930
www
Canton InsurS5000,
$940
$3.15
Underwritera
$3.10
1.180 $199
North China...
T100
8405/2
Union Insurances... $495
***
| 1880
$400 3040
China Fires
Yangtaze Insurances
$60
EUROPE
$250
H.K. Fires....
$930
Shipping
MANINA
·DANŢLA *
$223
Douglases
A
CALCUTTA & STRANIE
$25!
Steamboats
343
Indos (pret)
$40
98/1
Shell Transports
JATAM...
Jarka & Sokaal
SANDAKAN
JAPAN...
$71
$24
16
***
! !!!!!
4474
$33
Do. (def.) nanes
Watar-boats
Mining
Benquets.....
41/3 Kailana............... T13.10 Langkate (comb.)..
147 Do. (single)...) T1.15 Explorations.......... 15,65 Shanghai Leany ...
Raabs........................ Tronoh Mines....
21/
Docks, WharrOR,
$178
$180
$6.05 $6
340 E.K Docke
7.8
+1
#44
T.264
***
$24
**
T8.30
E
Godowns, etc.
H.K. & K. Wharfs... $178) Providents
T.133 Shanghai Docks...
New Engineerings Hongkews...
Cotton Mills
Ewos
S'hai. Ctons (ald)... T.85
Do.
(now) T.84
Zoong Singa... T.10
Lands, Hotels and
T.131
T.26
T.10
T13,60
!!!!!!!
HIHILL
fru
Ta
10/3
ΘΕΑΝΩΣΑΙ
LONDON Parcele 24th Apr. & STRAITA JAPAN JE SHANUMAI..........
ŠUĻROBATA DEWATOW
SAN FRANCISCO (sd May), HONOLULU,
Catan, Shanoual «nd" Burora vis] SIBERIA (Loudus, 19th Ainy). JAPAN...
***
#vin NAGAPATAM(Letters & Papers London 1st May)
BAN FRANCISco (9th May), HONOLULU
-AAN & SHANGHAI
PER
Στι
Kuth May 20th May
3, May
Bist amy
Khyber discur Susu Maru edures...
Pres, Harrison
Jeypore
Pres. Mckinley....
alu May
`Uhicago Maru
31st May
Jist May
ist Juar
1) Dup, of Himnasia ..
18, Jane
Pres. Jeferson
Greal. Matninger Tjiwong... Wakasa „Marts l'anda
End June
Sydney Mari
Pres. Grant
Bt. the
ard
+24 J.be 4pm Ste 4th JAW
th
CLES
sta June
sh June
JAPAN.
Ba (17th May), Canava, JAPAN)
and SKANGRA .. AUSTRALI, & Manala
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 9 a.m. registered and parcel mails are closed at p.m. on the previous day.
FOR
Pan
DATE & TISUR
Friday,
Baogick..
Swałw, Amoy & Foochow
Bintang... Hatching...
súth, 10.30 AM
Manila & Farcels only for Germany ti
Hamborg
Samshui & Wachow.....
Ammon... Tarming
1,80 r
14
4.00 T
Buildings
*Straits, Ceylon, India, Mauritius, E. & South Airion, Aden, "Egypt and
LUROPE via varvelileɔmau 24m3= | sellies, 30th Jane
Beg.
Koulon 1.6.
4.30 za
4.30 F
Suwa Haru
G.P.U.
Reg.
5.00 2
--
Letters
6.00 PM
$13 $86)
$13 28611.60
H.K. & S. Hotels
813
Tharas
Chúng trong
6.00 & a
H.K. Lands
$86
T.285
Shanghai Lands
$10,80
$109
$15
$98
HE
Tramways
$20.40
20.35/
H.K. Realtys........
Humphreys
Chinese Estates
Pabllo Utilities
Peak Trams (old)... $12
Do. (new)... $81 Star Ferries
$85
ር. . Lights (old)... $29 (new)...... 824
E.K. Electrics
Maceo do.
Sandakan Lights.....]
Telephones.... $14 China Buses........ Tractions "....6/9
(pref.)......
Industrials
T10.70-Caldbeck (ord.)
Macgregor (pref)
Canton Ices
25.115
12.08
90.365
Milan
92.92
Stockholm
18.105
Copenhagen
18.16
Orio
18. 14
March. April.
Vienna
34,45
Statistics :-
Tons.
Tons.
Prague
104A
Shipments from
Helsingfors
-183
Straits ...
7,831
6,715
Madrid
30.805
Total supply,
11,916 14,090
Lisbon
108.95
Total deliveries
12,479
*** 32,329
10,767 36,931
Athens
375
The recent action of the market must have been of cold comfort to the heads of the Farm Board. It geems to us that in spite of all this manipulation by the Farm Board, prices ara no higher than they 329.10 would have been if this august a
$24 thority had not intervened in the market.
$20.40
BIRL
16.10
$864
892
Bucharest
818
Rio
3 55/64
: Copper.
43)
1/3 95/32 1/81 1/12
18
With the world consumption of $10 American cotton for the first half $13.85 of the season less than in the cor responding period a year ago, one is apt to overlook that world con- 2/013/328umption of all growths, some of which, apart from American cotton, are hedged in American futures contracts, show, & marked increase. The total consumption is given by the New York Cotton Exchange Service as 13,076,000 bales, against 811.10
T.197
u ⠀⠀⠀ Th
83/85 29.1780
$814
$23
Do.
10/-
18/6
Do.
***
#
T.11 $21
$18.90
18.85/17
$39
Visible supply
one
Copper has been irregular and sensitive. AL moment, "the price gave way to £49.15.0 three inonths, which is the lowest touch- ed since 1914. This was due to rum- ours that the price of electrolytic would be further reduced to 12 cents, which would be equal to about £35.0.3, even so the price of standard should not be much les than £50. It is stated that, com- pared with last year, the opera sions of the principal copper-con- suming interests in America are about 27 per cent, less, except in electrical
and cable equipment "plants in which the output is prac American esti- tically the sains. mates give a further increase in the stmeks of refined copper this month If the price of about 17,000 tons. of electrolytic is held at 14 cents, it will inspire a little more con- fidence in our market, but should there be a further cut there will certainly be grave doubts to whether the price might not be still further reduced in America, engen- dering a demoralizing effect on our market here.
D&
Buenos Aires Bombay Shanghai Hong Kong
Yokohama Silver (spot) Silver (forward)
17 15/16"
ADVICE FOR INVESTORS.
READERS are
to
reminded that inquiries relating the share market are saswered on page 12 every Tuesday by "Kufan." Let- tera should be sent to this office, and must be accom- panied by writer's name and address, not for publication. Letters should be addressed to "Kuftin." are of the
Editor.
Features of Interest in the "Weekly Press
are:-
More about the Mui-Teal Question.
The Dwindling Dollar."
Caustic Comment on Hong Kong's
Secret
Diplomacy.
High Cost of Education,
Swatow "Strike."
"
THE PAPER WITH THE YELLOW COVER.
Price:-30 Cents.
$12, Post Frea
at Subscription: Hong Kong,
address, 815; Quarterly Subscription, $3.75 Orders should be sent to the
HONG KONG DAILY PRESS, LTD., TELEPHONE: 30251.
11, Ios Hougn STEKET.
| 12,694,000 bales and 12,840,000 bales
in the corresponding period last $8.90 year and two years ago.
We see no reason to modify the opinion we have expressed from time to time during the last few weeks. The market has recently been of a see-saw character, a few points up one day a few points. down the next. This irregularity is likely to continue for the time being, but we feel that the market would probably yespond to more favourable news from India or to bad; crop news.
Empire Cotton.
Our advices from Bombay dwell on the disturbed political situation in India, and the depression is en- hanced by the fear that the Bazaar time decline to trade in may for new crop contracts.
One of our correspondents be- lieves that saner councils will pre- vail and that new crop trading will open about May 1, in which event values should show improve- ment as the return to the cultiva tor has been very poor this season, and the acreage will probably be reduced. It should, however, be borna in mind that the principal factor in determining the Indian crop has never been the price, but the course of the monsoon.
Up-country arrivals, are rapidly falling off, and Bombay stocks continue to decrease. Bom- bay mills are now operating at im- proved margins.
Egyptian Cotton.
пож
The Liverpool market has been generally quiet during the past week, the main feature having been the continued strength of the bear position as compared with dir fants Further large spot sales for export have been effected..."
The new crop is said to ba pro gressing normally, and except for slight damage by locusts, the start nity be considerat Payurable
Alexandria zaposts that the spot demand has fallen off following the heavy shipments to America Good quality Uppers are still in demand, but Bakel is still in limited request.
In spite of the curtailment of: output, the yarn production in the Bolton district ia in excess of the demand.
ig
$5
3261 $27 31
3291
$1.90
13.70
$18
$124
$121
69%
91%
pram,
Miscellaneous
Dairy Farinaraztea
$284 Der & Wings..... Amusementeatu 3294 Constructions....... 81.70 Lane Crawfords Mackintosha..............
Btraits, Ceylon, India, Mauritius, East &
South Africa, Egypt & Europe via Khyber ..... Marseilles - dão Marseilles, 2972 Jane}
| Calantha vix Stride
*Straits, *Ceylon, India, Mauritius, *E. Arrica via Mombasa, & "South Africs via Lourenco Marques...
Manila
Foochow & Wei-Hai-Wei va Swatow Bangkok vis Swatow...
Swalow, Amoy & Formosa
Formos...
Brato and Amay,
Bertoon P.C. Parcels 4.30 k
Imoggðist, 9.00 AM Letters 1000 Aa 0.230. (car,30th, 5.00 2.4 Kay, 31sty 9.45 á à Letters 10:30 A
Saturday, 31st, Farvel Yumsang... Ì Letters
Chicago Afare-
...Fraz. Harrison
Buichow Awangehoo Horan Maru
"
2C0FX 8,00 F-
5.00 I
5,00 F
- JUNE -**--- Bunday, 1st,
-9.00 A
9.00 M
JA K
9,00 & 3
Monday, 2nd,
1080 M
Кітуушт
East and couth Africa, 'adev, ( | Geni. MotringerLaiters 10:30 A hgypt EUROPA via Marreste
tud arvoillae, 5th Jn y
Shanghai, Japan, Canada, U.S.A, C.,
$31
Nanyang Tobacco...
812) $114 $12,40
Sinceres (old).......
Do.
(new)..... Watsons.....á
82.85 Wm. Powells..........
&. America'& *KULÜPE via Van- couver, B.U-dae Vancouver, B.U., Emy, of Buna - } Beg, 21st June and *Europe via Biberis į -ship sails 64, 4th June 2 Babral
--
Manila.... ownlow, Abloy and Bouchow
+
Hagua Maru Anking
Comenta (comb.)...!
Do
(old)...
16.80/j85
$12
Do. (now)...
Ropes
$9
*Japan, monuimu, #Calada, *U.BA, *C.&
•America & *EUROPE via San Fran. cisco-dua ban Krancisco, 25th Juna ... Shanghai and KURUPE via Siberia
Parcels 3,00 F
Pres, McKinley
Boug
4.15.P
5.00 F
Beg.
5.10
Pres. McKinley Letters 8.00
Chiris
Sugars.
$27
Malabon Sugara
$29
United Asbestos
Holhow...
sıyan, *Straita, Caylon, India, Maurition,
Tuesday, Brd,
10.3 Kowloon P.0. they
10.30 ▲ X
IN
u.k.U.
Bog
11.15 AM
Letters
Noon
Parcals 11.00 AM
11.15 μ
Jimitera
Доск
Bremerhaven
Ncon
+
10+
fot
Prie. Jeferson Haiyay
Noon
Noon
¡Wednesday, ith,
Ohinhua Kwongsung
2.30 AM 8.30 a
Thursday, 6th,
Wakasa Marus
2.30'x
Bydney Mar... Bogn Bui Sang
4.152 M
5,00 7
5.00 P
New Youk, May 28,
Last Dividend.
Latest
Saler
Manila, Ɛandakan, Australia and Now
Zealand via Thursday Island Tune. Thursday Isana, 2nd June, Bwatow, Amoy * «oochow
Tanda
Friday,
·r'arcos Reg.
8th,
Noon
1.45 PM
Letters 220
Manila
Bai Ning.. Tonyo Maru
2.00
2007 M
72
60
112
Kowloon P.D. Pascale 307E Kay, 7th,9.00 AM- Letters 10:00 AM
G.P.D.
B. Ind. G.8 Bonds... 68% H.K. Grwt. Loan $108
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 Messrs. Swan, Culbertson & Fritz Sassoon 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
Borg Warner
City Service Common......
Erin Hailroad
Hxhow & Bangkok STALOW...
121
Straits, East Africa via Mombasa, South Africa, v Lourenco Marques, mod *South Anjarican Porta
Manila, Australia" (except Places North
of Townsville) and New Zealɛod vs. Brisbane as Brisbane 19th June,
Amoy
Straita, Cegion, India, Manrillos, E. & 8
Africa, Aden, Kgypt & BUBOPE vis}} Khíon Mazietimandine amarseiller, 5th July.
Far., 6th, 5.00 Beg, 7th, 845 21 Lters 1020 A
Saturday, 7th,
4.30 X
Tuesday, 10th, Kowloon 2.0 Beg. 4.30 M Letters 480 rx -
Anaconda Copper
Baltimore and Ohio
Continental On
30c, 'A
Curtis Wright. Common
Моде
10
Eastman Kodak
8B
242
Electric Bond and Share
·6C
107
None.
General Motors ......
Mazija
Prez. Grant
General Ry. Bigual
05
Simits, Ceylon, India, Mauritius, E. & H. Africa, Egypt & ÉCRŪPE vis Mar moiltos-mute Marieilles, 9th July..)
Antenor
Beg
Wodnowday, 11th,
Marima
Gold Dust
Goodyear Tire and Rubber Granby Consolidated Hudson Motors ...... International Cement.
International Nickel ...
wid
Nevada Consolidated. Copper.
Radio Corp
None
Fandakan
Seara Roebuck & Co. Simmons Co.:
2D
32.
Standard Oil Co. of New York
1.60
Union Carbide and Carbon... U.S.-Rubber
2.00
None
United States Steelio
"Superscribed correspondence only.