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P
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For Passenger and Freight information please apply ---
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HAMBURG - AMERIKA LINIE
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26 July 19 Aug.
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M.Y. DUISBURG" (1) M.V.RAMSES" (1) M.V. "SAUERLAND"..(1) M.V. MUENSTERLAND"
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(2)
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16 July
3 Ang.
18 Aug.
2 Sept.
Subject to Alteration without, Noties.
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Fare from Hong Kong to Genoa from £70.0.0.
(2) Limited Passenger Accommodation, Qualified Surgeon carried.
(8) Cargo Boat Ho Passenger Accommodation.
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AGENTS.
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Tel. 24754.
BLUE STAR LINE
....
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Next, Sailing
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Will find an interesting
article in the Daily
Press" Every Thursday.
HONG KONG DAILY PRESS, TUESDAY, JULY 15, 1930.
MARKET REPORTS.
SILK AND COTTON.
The following reports have been issued by Messrs. Hornby, Hemel ryk & Co. of Liverpool, Manchester and London:-
Raw Silk.
June 16-The tendency has been irregular but downward most of the fortnight under review. Latterly, however, there has been some reae- tion from the lowest, and, on balance, values are about 17 to 27 points lower.
May 1929 Bales.
American Cotton,
June 17. The market has beca very weak during the period under review, and, on balance, values are about 73 points lower.
Not the slightest attention has been paid to the fact that nights are too cool in Texas and that the plant is only making fair progress there, nor has the slightest atten- tion teen paid to a pronounce- mens by the Chairman of the Farm Board that the Stabilisation Cor poration may take up between 2,000,000 and 3,500,000 bales of the 1999 crop, nor to reports of unwant ed rains in Oklahoma.
NEW YORK: STOCK EXCHANGE.
TRADERS IN BEARISH
MOOD.
DECLINE OF AVERAGES..
ON THE DAY,
(UNITED PRESS)
New York, July 7.-Traders on the New York Stock Exchange re- turned to the market in a bearish mood to-day after the three-day holiday suspension, says the daily s review of the Dow Jones Financial News Agency.
Under selling pressure, the mar kete leaders declined..from one to tve points in all groups.
As a matter of fact, the market has been influenced and discouraged far more by the poor state of trade, not only in this country and in America, but also on the Continent and in Japan, by the weakness of The American statistics for. May the stock markets in America, and compare as follows:--
by the drop in Wheat prices. The increase in the Tariff in America, which seems to be unpopular with everybody except the politicians, has also been a contributory factor. Farmers in the US. A will now perhaps. realize that they are going to get a very poor price for their crop: in fact, we should not be surprised to find that some of the Western selling reported from New York has been for account of farm-
Call money went up a full point ers, who, presumably, have been
to 3 per cent, to-day. This reflect- selling futures against their pro-ed a reduction of the supply of spective crop. So much for the money, owing to heavy withdrawals farmers trust in their Govern from the market.
+
19,894 39,868
May April 1930 1930 Balcs. Bales. Imports 22,396 37,515 Stocks 35,477 53,704 Consump
tion: 40,523 41,554 49,721 In transit $7,700 8,000 28.000
The latest Japanese statistics also compare as follows:-
May, 1 to 13:-Shipments to U.S.A.. 8,063; Arrivals from in terior, 23,041 Into sight, 25,105;
Port stocks. 119,000*
May 16 to 31-Shipments" to U.S.A., 7.696; Arrivals from in terior, 23,155; Into sight, 24,713;
Part stocks, 129,000*
Including Silk held in custody under Warehouse agreement.
Japan has decided to remove all restrictions, and an attempt is to be made to absorb by domestic con- sumption half of the accumulated stocks.
2
The first Japanese crop promises to show a slight increase, and me sures will have to be taken to cur tail the second crop. Favourable reports are also to hand regarding the European and near East crops The reaction from the low level recorded a few days ago is believed to be purely technical. Offerings are, however, scarcer, especially of hear deliveries, and manufacturera appear interested in buying distant deliveries to cover their future, re- quirements.
ment !
Selling orders had accumulated over the holidays, and early in the session to-day the market was very active. Later the volume of trad- ing declined, so that the total turn- over for the day reached the not particularly impressive total of 1,460,610 shares.
"
Call Morey Up.
U.S. Steel was down
3 to 154 at the close, and the Dow Jones average for 30 industrials was off 4.13 to 215.33.
All the Dow Jones averages de The Whitsuntide holidays, ipelined for to-day's trading, due in Blanchester removed a factor which large part to the post-holiday sell- might have imparted some steadf
ing orders. ness to our market. The boycott in India continues severe, but, from the Calcutta side, we hear of a slight lifting of the embargo. Still, the situation looks very pessimistic for the moment, and it is hard to see a ray of light.
"
The Census Bureau reports that U.S.A... mills consumed only 474.000 bales in May, against 332,000 bales in April and 665,000 bales in May last year,
The Textile Institute cloth figures for May denote no improvement-i the American textile situation. Sales are-given as 68.9 per cent. of production, and unfilled orders are reported to show a decreass of. 22.9 per cent. compared with the pre- vious month.
The New York Cotton Exchange Service has revised its estimate of the world.consumption of American Close New York, Saturday: Julycotton this season, and now men 83.35, September $3.33, November tions a figure "of 13,400,000 bales, $3.23, and December 83.25.
which mean a carryover of 5,800,000 bales.
INTIMATIONS.
"CHINA PROVIDENT LOAN, &
MORTGAGE CO., LTD,
NOTICE.
No
FOTICE IS HEREBY GIVEN that AN EXTRAORDINARY GENERAL MEETING of SHARE- HOLDERS in the CHINA PRO- VIDENT LOAN & MORTGAGE COMPANY, LIMITED, will be held on WEDNESDAY, THE 16T DAY OF JULY, 1980, in the Company's Board Room, ALETANDEA BUILDING, HOS
Kore, at 12 O'CLOCK NOON, for the purpose of considering and, if thought fit, passing the following Resolutions:
-That the Capital of the CHINA PROVIDENT LOAN & MORTGAGE COMPANY, LIMITED, be increased from $3,000,000 to $4,500,000 by the creation of 300 000 Shares of 35,00 each and that the 300,000 Shares of $5 each shall each rank for dividend and in all other respects pari par with the existing Shares of the Company.
9. That in the event of the above Resolution being passed, 294,789 Shares shall be issued and offered in the first instance by the Directors at par to existing Shareholders on the Register of the Company sa at the 18th day of July, 1930, rateably in the proporation of ONE Share for every TWO Shares hold by auch Shareholders, and in the erent
ziot
As the growing crop runs the risk af same disaster, or, at any rate, as less favourable crop ac counts are possible from one day to another, it would seem risky to be short of the market, capecially at 61d. a pound,
We can only repent that given bad crop news or a revival of trade, a very different picture will be an parent. Until then, however, noth- ing seems able to stem the decline.
Empire Cotton. Following a conference between the East Indian Cotton Association, Lombay, and other Bombay cotton interests, the Board decided to fix minimum prices of hedge contracts
Bethlehem was off. 14 to 781. Westinghouse was off four points to 130, General Electric was off 13 to 65 Eastman Kodak was off 2 to 189 American Rolling Mill show ed one of the rare rises by closing up to 491: American Can was off 31 to 114 and Du Pont was off three points to 974,
Motors was off 2 to 381; Chrysler Among the motor issues, General
was off: half a point to 988; Mack Trucks was on 2 to 50; and Pack. ard was down half a point to close at 13.
Copper Issues Weak, Coppers continued weak, with Anaconda closing off a point to 49 as compared with the last year's low of 7. Kennetott closed off an eighth to..38. Calumet & Hecla was off 1 to 14. Nevada Con- solidated was off a quarter to 164.
The Dow Jones average for 20 New ruils, was of 83 to 127.63. York Central was' off 9 to 1534;
Pennsylvania was off half a point to 73 Erie was off 3/8 to 39; Canadian Pacific was down a point to 186: Rock Island held at 99; Southern Pacific was off 3/4 to 114; Northern Pacific-was-down-a-half- to 72 and Union Pacific was off a point to 206
:
Utilities Lower, Utilities likewise declined, the Dow Jones average for 20 issues being of 1.78 to 70.07. Radio Corp. was off 1 to 38%; American Tel. and Tel. was down 1 to 2054; In. tornational Tel, and Tel. gained an eighth to close at 433; American and Foreign Power was off 21.to Old Crop-July Bengal Rs. 170,00; Columbia Gas was of 1 to July-August Broach Rs 240, Julyco; Consolidated Gas was off Oomra Rs. 197..
to 103: Southern California Edison held at 50 and Public Service of N. was off 1 to 90. On the kerb, Electric Bund, and Share was off 38 to 74.
as follows:-
New Crop:-December-January Bengal Rs. 185, April-May Broach Rs 250, December January Ocmra R3. 207.
The Board prohibits trading in hedge contracts for old crops except for liquidation.
Among other leading issues, War- ner Bros. Pictures was off to 404; U.S. Rubber was down half a The advisability of fixing mini-point to 21 Corn Products was off mum prices is very doubtful. A 33 to 88; Curtiss Wright common prices for American cotton have lost an eighth to close at 74; Fox. declined since the price were estab- Film "A" was off 7/9 to 39; and lished in Bombay, buyers are un- International.Combustion.Eng. was willing to pay these prices: con off an eighth to 53. sequently longs are having the greatest dificulty in getting out of their contracts.
Egyptian Cotton.
Values in the Liverpool market
of any of
of the said 294,769 Shares have declined in the period under being taken up by the Share review on long liquidation and on holders within the time stipulated
by the Directors, the Board aball become Alexandria short selling iD empowered to allot them or dispose sympathy with the decline in the of them as they in their discretion American and Alexandria markets, deem expedient in the interest of and values are now at the lowest the Company.
for the season. NOTICE IS ALSO HEREBY The Alexandria market is wait GIVEN that the TRANSFER BOOKS ing for a decision from the Govern. of the Company will be CLOSED Fromment regarding the disposal of the MONDAY, THE 7TH DAY OF JULY, large. Government stocks and also 1990, to WEDNESDAY, THE 18TH DAY for a declaration of its future or JULY, 1930, Both Days inclusive. policy. The Egyptian Parliament Dated this Twenty sixth day of June, is to debate the cotton situation
this week.-
1830.
By Order of the Board of Directors.
D. L. KING,
Secretary
:- [9579
CREDIT FONCIER. D'EXTREME ORIENT. MORTGAGE BANK AND ESTATE AGENTS,
"PEAK MANSIONS" Bix-roomed & Five-roomed? Apartments.
FRINCE EDWARD ROAD, KOWLOON,
Detached and Semi-detached Villas Modern Constraction with Garage,
** CAMBAY BUILDINGS" Flats with Modern. Convenience,
QUOTATIONS.
New York, July 7. Market weak.
·Business done: 1,450,040 shares.
July
Adams Express...
American Can, a American & Foreign Power... 163 American Rolling Mill... American Smelting
•
American Tel. & Tel
Tobacco "B" American American WaterworkS... Anaconda Copper Alastic Bofining Baltimore & Ohio Bethlehem Steel Borg Warner Calumet & Canadian Pacific Railway Chesapeake Corporation
Rock Tiland Up to the 8th instant, the Govern- Chrysler ment's purchases amounted to
Common Cities Service, 1,183,500 cantars, of Sakeland
Colgate Palmolive Peet 1,388,250 cantars of Ashmouni.
Columbia Geo
Gas & Electric Recently a number of growers Columbia Graphaphone and merchants met under the pre- Commercial Bolvents... sidency of the Egyptian Minister of Finance. The consensus opinion was rather opposed to Government intervention in new crop deliveries and was also oppas- ed to any acreage restrictions dur- ing the coming seasons, as it is felt
of
Cont
that nereage restrictions would only Ellway
favour other producers, especially the Soudan.
JAPANA
11
TOYG
Weekly Trans-Pacific Service
"To San Francisco and Los Angeles The Sunahing Hell via Honolulu
Fortnightly saillaga on Tuesdays
Pres. Pierce Fres. Taft
July 15, 1
July 29 Pres. Jefferson Ang. 12
ڈو
To Seattle and Victoria.
The Shori, Straight Route
to America
Fortnightly sailings on Tundays a.m.-Pres. Jackson. July 29, 8 a. m
Pres. McKinley Aug. Prem. Grant Aug. 19
£120, £112cal through rates to Europe via
United States. Direct connections with all Atlantic lines. Choice of rail lines across United States and Canada, Eiberal stop-over privilegen for sight-rowing.
Europe and New York Direct
ROUND THE WORLD
Feralphily sathing on Sunday via Manila, Siraits, Colombo, Suez Canal,
Alexandria, Napien, Genaz, Marseilles, New York and Boston.
8&..
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Pren. Van Buren... July 27 Free, Garfield
Avg. 10
Free. Polk
... Aug. 24
Frea. Adam
... Sept. 7
To Manila
6 p.m.
6 p.m.
Pres. Jacksta Pris. Taft
July 20
***
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Aug. 9
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ΑΜΟΥ TJISAROEA ....
In Port
15th July,
20 241 24 1171 114
60 491 497 *** 59 60
207 2051 234 2323
TJISONDARI Sat. & Axor 20th July #2 TJIMANOEK
101
ד
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Noon
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22nd July, MANILA, MY EAR
Yoon
Noos
27th July 29th July,
NORTH BOUND.
& BOERABAT BATAVIA
.. 1873 1864 ...Mutl-56 98
STEAMZRA
FROM
EXPECTED WILL
LEAVA ON ON DR ABOUT OR ABOUT
For
251 Malt 51)
TJILEBOET
JAVA,Masa In Port 17th July
Abor
171161
"AMOY & S'HA.
221 221 | TJIKARANG BATAVIA 23rd July 24th July
For further particulars apply to
108 103
921 89
10097)
193 189
77
74 201803
401
60
40 881
Commonwealth & Southern ... 141 137 Commonwealth & 8. Warr.... Consolidated Gas of K. T. Continental Oil ... Cora Products ... Curtiss Wright, Common Da Font de Nemenre ... Eastman Kodak Electric Bond & Skare..... For Film Ar General Electric More Zagora, Maaras and Nahda General Food cotton has beeh planted this year
General Motors at the "expense of Sakel descrip- General Ballway Signal Stichs, and we hear from one quarol Bas tor that the crop, may reach nearly 10 million cantare if crop con ditions remain favourable. This enormous estimate takes into ac count that other growths, planted in lieu of Sakel, give a bigger yield, and that there is likely to be an increase in acreage of about 10 per 'cent.;
Goodrich Labour Goodyear Tire & Rubber. Great Northern Certificates....
Mut 21 Granby....
781 77 Hershey Chocolate International Cement ... Mutl. 811 International Combustion Eng. Bi International Harvester 23 801-
21 231 International Niskel
(Continued on Page 12.),
•
6.
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