12
Money and Markets
GOSSIP FROM THE SHARE-MARKET.
FURTHER DROP IN PRICES: DEPRESSION CONTINUES.
FREE ADVICE, FOR INVESTORS.
CEMENTS also figured promin- Gossip often moves the market, but no investor should either buy ently in this week's transactions, a good many shares changing hands or sell on market" gossip only.
The depression" in the share at 818 to $17.60. The market firm market, of which mention has beened up somewhat at the close. made already in these columns,
PROVIDENTS CHINA
still continues. Those who are negotiated during the week
HONG KONG DAILY PRESS, TUESDAY, AUGUST 12, 1930.
NEW YORK STOCK DAILY SHARE QUOTATIONS
EXCHANGE.
SOARING PRICE OF GRAIN IN CHICAGO:
NO BULLISH FACTOR IN THE MARKET.
(UNITED -PRESS.]
New York, August 8-Soaring prices in the Chicago grain market,, due to the long and punishing Middle West drought, distracted attention to-day from the New York stock market where prices failed to at follow the lead of the improvement
wara
anxiously looking for a change in 5.10, and buyers were only offer-grain, says the daily review of
the downward trend of local share prices will have to wait for some time, I fear, since there is a general and conarmed feeling that rates will go down further before September.
ing at the close.
the Dow Jones Financial Nar's
HONG KONG ELECTRICS, are | Agency." shade easier, and after sales at 86 and $66 buyers have gone down to $68.73.
Prices of New York stocks drifted steadily lower on the New York Exchange, indicating that the im HONG KONG TRAMS experi-provement in grain prices had lost A review of the price movement exced a small drop as soon as news of the various stocks, shows clearly of a slightly smaller interim divi- its influence as a bullish factor. a decided downward tendency indend was made public. the more apeculative shares in the were sold at $18 and $18.23, and market.
probably further shares can be placed at the latter figure.
During the week there was large turnover in China Lights, Hotels, Trans, and Cements, in all of which there had been a decided decline in rates. The wonder of it all appears to be this-that while the market is dropping all the time, there are buyers taking up shares which speculators are willing, and in some cases, anxious, to unload.
*
Shares
DAIRY FARMS changed hands at $93.50, and further shares are wanted at this figure.
+
HONG KONG ROPES, after casing off early in the week, im- proved somewhat towards the close to about $11.
There was, however, a slight rally. at the close, which was una coon- panied by any increase in the turn- over. Sales for the day amounted to 1,3117,370 shares.
HONG KONG "STOCK" ·
EXCHANGE.
SHAREBROKERS" ASSOCIATION.
Buyers Baller|| Baten
MONDAY. AUGUST 11.
Buyere Bellers
Bales
.T.160 1437
$400
$960
11
·T1.30 T.6
W
TIRTH
# !!!!
*:*:*
$25
៖ ៖ ៖ ៖ ៖ ខ្លី ៖
HIH!
FOREIGN MAILS
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INWARD MAILS,
FROM
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Dua
Banks
JAPAN and SHANGHAI
$1,515 F.K. Banks
$1,625
CALCUTTA and STxarra
D'Artagnan Talma
12th Aug
19th Ang
£107
217
Do. (London) .... Chartered Banks...
·STRANTS AN
Alipore
12th Aug.
£17)
SOURABAYA
Thibodas
19th Aug,
www.
228
*121
Mercantile Bka. “A"!
Da Bank of East Asia..
198
Tawa
19th Aug.
C
£12
SHANGHAI and SWATOW
Buiyang
13th Aug,
$115
AMOY and BWATON.....
Cremer
15th Aug.
JAPAN...
Ginyo Maru
18th Au
insurances --
#915
Canton Insamaa con..
$940
EUROPE VIA SUAz (Letters and papers,
SHANGHAI and EUROPE via EBERIA
(Landon, 94th Jule)
Wiran
14th Aug.
$2.55 Underwriters
52.60
London, 17th July, and parcels, 10th
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14th. Aug.
North Chinas.
T160
July!
Union Insurances..
$430
JAPAN and SHANGRAI
Rajputana
15th Aug
M.#50 Yangtare Insurances
$60
U.S.A., CANADA, Japan and BeaxonAZ)
Uhina Fires
$400
(Seattle, 26th July)
ว
Prea. Timoin
15th Aug
HK Fires.
"MANILA
Pres. Grant
18th Aug.
JAPAN...
Bilano Maru
16h Ang.
Shipping
AUSTRALIA End Manita
Tango Maru
-19th Aug.
STEA175
Hakome Mars
Find Ang
$26
Douglases
$261
JAPAN and SHANGHAI
Kama Maru
39ad Aug.
Steamboats
U.B.4 HONOLUlu, Japan and Shang-|
$43
Indos (pref)
$43
HAY (San Francisco, 25th July)
[...]
Fres. Polk
23rd
140
Do. (def.)
810
50/7
Shell Transports
95/7
U.S.A, HONOLULU, JAPAK and Shanghai,
(Ban Francisco, lat Ang )"
-- Pres. Oleveland
25th Aug.
$31
891
CANAVA, U.S.A., HONOLULU, JAPAN and
27th Aug.
31/3
T.81
$167
$5.10
$39
T17
1.7
No Improvement in Steel.
On the whole, the day's news was for the most part bearish, as there was no improvement in the stoel industry and the figures for car loadinga showed decline. U.S. Steel olosed down 23 to 169; Bethle AMUSEMENTS changed hands hem was off 13 to 92; and Ludlum
was off a point to 36.
Following this trend in steel, the Dow Jones, average off 4.09 to 934.38. Westinghouse was down 2 to 1454; T.260 General Electric was off two points to 70; American Can was off i to 1977; Johns Manville was down two points to 861; and one of the few exceptions was Du Pont which rose three points to close at 119.
The jump in prices during April and May led to a few local stocks becoming "top-heavy," and it was at $23.. only reasonable to anticipate à re- action. But those who are buying
REPLIES TO READERS. shares just now especially stocks whose prices are rapidly falling must have a strange kind of opa Every week in this columa fidence in such. securities.
"Kufan" replies to correspondents "During the week, and not infre-who may have questions to put re- quently of late, I have heard many garding the prospects of any stock stories of syndicates manipulating quoted in Hong Kong, Shanghai the market and such talk.
or Singapore. Questions regarding principles, practice, and custom can also be dealt with.
Those who listen to this sort of fairy-tale and buy shares in a weak market on the strength of such "Correspondents are asked to fill stories are really playing into the up the coupon appearing elsewhere address their queries to hands of manipulators. There are, and of course, from time to time, syn-"Kufua," care of the Editor of dicates who either "bull or this paper, and to give their names "bear " certain stocks, but their and address. It is desirable that activities are well concealed and a nom de plume be also included, are known only to the favoured few, in order that readers can" readily who undoubtedly can be trusted to identify the answers intended for
them. keep their doings secret!
4
BANKS As far as I can ascer tain, there appears to have been no business cone in Banks this week The quotation at the close was round about $1,510.
է
UNIONS-Business was done in this stock at $410, and shares are "still wanted at this price.
*
CHINA UNDERWRITERS are à shade easier and sellers have come down slightly in their ideas, but buyers are waiting for still cheaper be At present shares can rates. had for $2.60.
CHINA FIRES and HONG KONG FIRES are both in demand,' the former at 8400 and the latter at $900.
+
DOUGLASES have again in proved slightly, with buyers at $26 STEAMBOATS-During the week there were quite a number of small holders in the market offering to sell at $2
.:
The Dow Jones Average for 20 rails was off 144 130.62. Pennsyl vania was down half a point to 74; New York Central was down two points to 164; B. & O. mas up an eighth to 1044; Rock Island was off. four points to 98; Canadian Pacific was off a point to 185; and Union Pacific slumped to 2151, down 7.
Decline in Utilities.
Utilities likewise shared in "the decline, with the Dow Jones average Every effort will be made to give for 20 issues off 1.59 to 84.58. In- as full and detailed a reply, as ternational. Tol, & Tel. was off 6/8 possible, but no responsibility what to 45; American Tel. & Tel, de ever is admitted by the writer inclined 3 to 2101; Cities Service. .so doing.
common was of 3/8 to 281; Con- Those who have written for in-solidated Gas iwas of 2 to 1007; formation last week will find an Columbia Gaa was down 18 to 691
Southern California Edison closed. swers to their queries below- SWANSON-Certainly take up the at 36); and Radio Corp. was off
new shares and, if you like, sell 5/8 to 43. them immediately and pay off Eastman Kodak closed at 2114 your overdraft.
2-No, not as off 2 Montgomery Ward was far as can be ascertained. 3-down 1 to 343, with Sears Roebuck Do not favour Wharves. 4.----No, off 1 to 631, Warner Bros gained 3/8 to close at 38 but Fox Film A was off 3/8 to 541. Anaconda Copper was off an eighth to 504,
ML. P.-1.-The market is too in-
flated at the moment, and prices | generally are falling. The time is bad for investors like yourself. 2. Further decline, see comments above."
*
ار
PHILIP-1-Don't touch. -In- Re- terim dividend is 40 cents. garding the second half of this question, my answer is "No." PAGODA.Your letter does not say what month in 1925 you made. your purchases. This affects my Answer somewhat, as there was a big difference between prices rul- ing before June and after. 1.- The quotation is very tempting, HONG KONG & KOWLOONbut the exchange on the Hong
STAR FERRIES were unchanged throughout the week, the quotation being $86.
•
WHARVES were dealt in during the week at $168, but at the close there were further sellers at this price and buyers were only offer. ing $100.
... #
*
KONGKONG & WHAMPOA DOCES are quoted at 839 nominal."; "HONG KONG. HOTELS--This stock was the medium of a fairly. large business this week, and shares changed hands at rates varying from $10.50 to $10.10.
HONG KONG LANDS are very steady at the moment, and buyers are offering about $63.93 for shares.
*
HONG KONG REALTIES--There was a demand during the week for shares in this stock, and after busi- neas was done from $5 to 89.20 the market closed slightly frier with buyers offering $0.25, and sellers still holding out for a higher Tate!
HUMPHREYS These shares. have buyera at $18.40, but so far as I know, no business was record-
EWOS-This stock appears to have armed up somewhat, and sales, it is reported actually took place at action on At the timer fasting buyer offering Tla. 11.00.
CHINA LIGHTS During the past week a large business was dons in China Lights. In spite of this, rates fell from $25 to $23,50 for the old sharea A few new shares were done at $20.
Kong dollar, about 1/31d. to-day,
(Oontinued on next dolumn.)
is against you. If you can sell and keep your money in Hong Kong in local currency, I think you should do so. You can ar» “ range this with your bankera. No. 2. The same remarks apply here. The quotation in Flong Kong dollars is very high. No. 3-Sell by all means. This com- pany is being gradually austed out by a strong competitor. No.. 4.-During the past six weeks the shares touched $201, and receded to 8233. Highly speculative. Sell. No. 5-Quite a sound stock, that is very likely to improve HOON. Hold,
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. Irregular. New YORK, August 8, 1930. No. of Shares dona.-1,300,000, Call Mongy- por cent.
Borg Warner ..... Continental Oil
$10,35
واد
$
Water-boats
Mining
Banquets. Kailans
Langkata (comb.).
Do. (single)
Explorations......... Shanghai Loana ... Raubs
Trondh Mines
Docks, WharvGE,
Godowns, etc.
ELK. & K. Wharf...
Providenta
HK Docks
New Engineerings"
Hongkows
Lands, Hotels, and
Shanghai Docka
$960
!
11111
155/
T1440 $7.40
ΤΙ
T8
$23
21/
BHAKOHAI (Vancouver, B.O., 7th Aug.)]] Amp. of Canada.....
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. registared and parcel mails are closed at 5 p.m. on the previous day.
FOR
PIB:
DATE and TIME
Tuesday, 19th
$168
$5,10
Shanghai, Japan, Honolulu, USA)
Canada, Central and South America,
$39
T.114
1.77
and EUROPE via San Francisco- dus San Francisco, 3rd Sept., and "EUROPE via Biberia
Pris, Jeferson - .
Baibow Bakhoi at Esprong
Lámahow
14
Jara Tia Bataria
Tillsboot
Fort Bayard, Hoihow, Pakhoi and Haiphong Tondia Swatow, Amoy and Foockow...
Haiching
8.30AM 10.80 M 1980 =>
1.00 PM
Buildings
H.K. & S. Hotels.... HK Lands
810.30
$10.30
Saigon, Ceylon,
Mauritius,
$814
1.287 Shanghai Lands
$9,30
$16
H.K. Realtys.................... Humphreys
$16.40 $15.79)
187
Chinese Estates
Cotton Milla
T.12 T.19
Exos
11.90, 12
1.78
Shai, Cottons.
170
1.9
Zoong Sings
T9.30
Public Utilities
$18.60 $12
18,40
Tramways.*****
8181
$18
$6.10
Peak Trams (old).
Do. (new).
India,
East and South Afrion, Aden, { "D'Artagnan Egypt and EUROPE vs Marseilles
due Marseilles. 13th September
Manila
Bamshui and Wachow Manila
Shanghai, Japan, Honolulu, *0.8.)
(except California) Canada, Central and Fouth America and EUROPE via 8an Francisco-due San Francisco 5th September, and *FUROPE TIS Biberis
Bwabow... Sandakan
Taiming Pres. Grant
· Shinyo Mara -Wednesday, 18th,
Waishing... Hinang.
5.00 Px
Lettors 8.30
Reg.
Kowloon P. 0.
100 M Lottars 1.00 P
G.P.O.
Reg: 1.45 PM Lettera
2.80, K
Empren of Asia
5,30 2
4.00 PM
4.80 M
Bog.
Wednesday, 13th.
$88.
Star Forries......
885
Amoy
Taiyuan..
8.89 AM 10.30 A
5.00 m.
$24
$2**
C. Lights (old)......
824/4
Phursday, 14th,
-521
820
Cremor
$76
$784/1
876
Straits.
9.30 AM
Swatow, Amoy and Formosa
Deli Maru
10:30 AM
#33
8111
$21.40 $1
T.18
10/
Tractions
Straits and Calcutta
6/9
18/8
Do. (pref).
Industrials
T.10 Caldbeck, ((or) Ilu.40 Macgregors pref.) $210 Canton ices....
$2.25
$17.90
18/10
Cements (comb.)
$17
$131
-Do
(old)... Do. ・・・ (now).....
$16.00)
China Bugar vammennen Malabon Bugars · *** United Asbestos.............
Straits and Calcutta Manila
Amoy
Swatow, Amoy and Foochow
Straits, Ceylon, India, Mauriting, East.)
and Bouth Africa, Aden, Egyph zal Rajputana EUROPE via Marenillas-dao Mar-1 sailles, 12th September
Tzaroa Pren, Längçin, Kwangtung
Noon
1.00 PM 1.00 M
Kowloon P.O... Parcels 4.30 7 M Beg, 16th,9,00 ▲ 2 Letters: 10.00 A. K G.P.D.
Par 15th, 6.00.2 ME |Beg „16th,9,45 a m Leftem 10.30 AM
Saturday, 16th, Parcela 12.30 x Lotteri 180 N
4.30 # 5.00-
Bui Song Huiyang
Friday, Parcela Letters
15Liz
Bangkok via Swałow
$241
Dairy Farmasens
$234
$24
Swałow, Amoy and Formosa
Kaying -- Janton Mar
$1
$26
Der A. Wingsagemuse Amusementad
325
Chin Entertainmʼta.
310
$1.80
Constructions
$1.90
Lane Crawfords
Japan, Canada, USA. Central and Bouth America and "EUROPE vis Victoria, B.C.-dus Victoria, BC, 5th Septemer.
Proa, Grant
Sunday, 17th, 9.00 A 9.00 a
Monday, 18th, Parcela 3.00
4.15 F
$182
Mackintoshs
Nanyang Tobacco .....
***
Binceres (ald)..............
Shanghai and EUROPE via Siberia Amoy
Pres. Grant Kutsang
Do. (new)
312)
Watsons
NBGERSDOI.
$9.86 Wm. Powells 153.
8%
prem.
B. Ind. G. Borda.... B.K. Govt, Loan ....
$12
%
[2]
Estano Maru
$108
land, 1st Sept...a
$10.60 $0.00
+
Do. (new)...... HK. Electrics...) Macao do FA1444 Sandakan Lights... Telephones (fally.pd.)! Do. (part pd.)
Chins Bases a
Ropes
Miscellaneous
#MUH!!
LOCAL AND REGULAB OUTWARD MAILS.
7,80 km. (7.15 m.
·18:00 pum. - §. 17.00 pm
27.15 cm. & (7.30am, &
Mazlla, Australia and New Zealand vin'")
Thursday Island-due Thursday Is
Straitz, Ceylon, India, Mauritius, E. and】
8. Africa, Egypt and EUROFE via Philocteter Marseilloedus Marseilles, 19th Sept. J
Hwatow, Amoy an1 Foochow Shanghal, Japan, Canada, U.8.8, C, and 8. Amerias and *EUROPE via Van- ouver, B.C. due Vancouver, B.C., { 6th Beit, and Europe via Siberia....
Swatow Jepan
Hai Ning.... Empress of data
Chakang
Tanga Mor Uhương Shing
.::
Beg.
Lestars 5.00 Beg. 5,00 Letters 6.00
5.00
Tuesday, 19th, Begi
8.45
Letters 9.30 a w Kowloon F.O,
|Reg. 1,00 M
Letter
1.00 г M· G.P.O, Beg 145 1 Lesters 2.20 PM 2,00 ▼ M
Parcels 6.00 PX Wednesday, 20th, Baga: 0.15 ** Letters 10.00 A MO
Wednesday, 20th
8.30 4 9.30 M *6.00 2.8.
WEEK DAYS, SUNDAYS & HOLIDAYS
FOR
FROM G.P,0.
FROM SHEUNQWAN
FROM G.P.0.
BIKONOWA BELSCH *P,0.
Lant
"Tatest
Canto
Dividend.
Solen
American Smelting ...
4
62
Anaconda Copper
3450
50
Baltimore, and Ohio....
109
29
Macao & Tainahan
None
304, A
Curtis Wright Common
None
3B
Electric Bond nað. Share Erie Bailroad
B
Nope.
Fatshan (By Traini)\:
General Motors
80
Tai O
City Service Common
Eastman Kodak.....
General Railway. Signal Gold Dust
Goodyear Tire and Rubber Granby. Consolidated. International Cement International Nickel Montgomery Wardenia Nerado Rensolidatad Radio Corp Seara Roebuck & Co Simmons Co.
11.30 p.m."
6.00 p.m.
( 7.15 amï. &í ↑ 7.80a.m.) {2.10 p.m.!
Kongmoon (except Eaturdays) -5.00p.m. Kaukong (excet Saturdays).
7.15 am
9.00
.
5.00 p.m.
7.00 p.D.
Baddays
Bonday
5 p.m. only
7.09.g..
only
6.00 pa
£7.15am & (7.30 am, &
1.15 pm. Sundays 8.15 8.3.
Lonly
6.00p.m.
7.15. 0.000
110 m
11.00a.m.
1.80 p.m. Sanders 8.30a.m. Lonly
Foochow via Bwatow Shanghai, Ispas, Honolain, U.RA]
Cands, Central and South America and "EUROPE via San Francisco---- das Ban Francisco, 11th Sept., and | *EUROPE ris Siberia
Tatsia Mfarm...? Thursday, 21st,
6.00p.m.
6.00p.m.
Hoihow, Pakhot and Haiphong 20
Changlu
Mania, Australia and New Zealand via) 7 Thursday Island - due Thursday Leland, Ind Bapt.
Changts
Shanghai, Japan and EUROPE via Siberia Hakone Maru Btraite, Ceylon, India, Mauritius, H. and 8. Africa, Egypt and KUBOPE VI Marseilles-due Marsellles, 22nd Sept.
· Kamó Maru
Thunday, Slat,
8.30 AKC Parcels 6.00. S How 32nd 9.45 aw Lottern -10.30′′A. 26°
Friday,od,
Kowloon P.0. |Began4.80 x w
Lef,Bird, 9,00 % M.
Beg, Bird 8.45&M
.9,00
Missing
Tai Po
Shumchun
Cheungchow?
Aberdeen
Stanley
Autan, - Pingshan,
Shatin, Bhatask
Sheungabal
Balkong...
Namtau, Sherri & Tar
€9,00 m, d
18.00 pm.
(0.00 3.xi. &) 1800 p.m. 12.80p.m & 4.30pm. Baturdays
· 8.30 *10.
1.00 p.m.
4.30 pm
10,30 m
4.00
Japan,Canada, #U.B.A. *Cand°3; America1
and "EUROPE is Victoria, BC.-- Pit-due Victoria, B.C., 16th September
Manila
#Buperscribed
Standard Oil of New Jersey:
08
Standard Oil Co. of New York
$1.80
31
· Union Carbide - and Carbon.
2.60
United States Rubber
None
153,
“United Statei" Steel
8,000 pam
· 100 pzL ́
Protarilaun
"Pros, Polk
9,45 AM
10,30 **