12
Money
and Markets
GOSSIP FROM THE SHARE MARKET.
PRICES STILL ON THE EBB: WHEN WILL THE TIDE TURN?
FREE ADVICE FOR INVESTORS.
Gosip often moves"the market, but no investor should either buy or sell on market gossip only,”
As predicted, there was no im- provement whatever in the share market during the week under re view. Prices generally went further down, except in the case of China Lights and Cements, in which stocks there was an interesting atruggle between what appear to have been groups of "Bulls" and Bears." As a result rates due tuated considerably during the week. Further reference to this subject is made below.
A section of brokers, I hear, are of the opinion that rates have touched rock bottom, and that it would be unduly pessimistic to anti- cipate any further drop in rates. From their point of view, therefore, the tide is at its lowest ebb, there fore now is the time for those who are anxious to come in and buy This view may or may not be cor- root; time will prove. For myself, however, I cannot see any "reason to expect the tide to turn at the present moment. That rates must- improve is obvious, but as to when they will improve is a very debate able point. For those who are not in close touch with the doings of the share market, perhaps it is not out of place for me to repeat what I have often said, before--that the majority of those who are supposed to be in the know" are of opinion that there will be no improvement until September.
In giving expression to this view I know that there will be many who disagree with me. To these I can only say that I am open to be convinced on the point, and any argument sent to me, showing" why. rates may be expected to go up will be given, as far as lies within my power, the fullest publicity.
The August Settlement, accord- ing to the majority of brokers, will be a small settlement, and con- sequently the market may not be influenced one way or the other by the approach of settling-day. I see that the date for September settlement has been readjusted, and will take place on the 29th.
<
HONG KONG BANKS-At rates varying from $1,450 to $1,460 ex dividend, few small parcels Buyers of small changed hands, lots are still in the market at the former figure, but sellers are hold ing out for a little more.
*
•
EWOS-Business was done during the week at Tis. 12, but towards the end of the week shares only lotched Tls. 11.73.
CHINA LIGHTS-As far na I can ascertain a big business has been done in this stock, in site of declining rates, and forward busi- ness has been predominant. Rates reached as low as $23.95 for cash, and opinion appears divided as to which way the market will go. To- wards the close of the week the "bull's 1J
appear to have strength ened their position somewhat, and shares touched 823.75, but for the present week not much change is anticipated. New shares, I hear, were done at $18.23.
CEMENTS--Shares changed bands from $17.40 to $19, and at the close were wanted at 817.00. The price during the week varied daily, which shows the influence of buyers and sellers.
CHINA PROVIDENTS -There are a few small buyers at $3.
HONG KONG ELECTRICS-At] $76.73 to 977 a fair business was done in this stock, and the market closed with buyers at the former figure.
*
HONG KONG TRAMS—Buyers are only offering $18,20 for this stock against sellers' ideas of $18.40,
DAIRY FARMS-Business was reported at $23.73 to $24, and a further drop is anticipated. At the close of business buyers were offer. ing the former figure for shares.
•
HONG KONG ROPES-After shares were sold at $1 to $11.95 the quotation, went back and shares were offering on Saturday, I hear, at $10.75, with buyers holding off.
HONG KONG AMUSEMENTS
Shares are again offering at $5
HONG KONG DAILY PRESS, TUESDAY, AUGUST 19, 1930.
CHINESE RAILWAY
REVENUES.
GOVERNMENT LINES SHOW
TOTAL OF 37,000,000.
The total revenue of the nine Government railways in China dur- ing the mouth of May, 1800, amount- ed to 87,475,200, according to statis- tics compiled by the Ministry of Railways. The nine railways in. clude the Peking-Mukden, Tientsin- Pukow, Shanghai-Nanking, Shang- hai Hangchow-Ningpo, Tackow- Chinghua Canton-Kowloon Kiao- chow Tsinan,
Canton Shruchow
section of the Canton-Hankow, and the Nanchang-Kiukiang, Railway Administrations. Owing to the dis- ruption of communications in the war areas in the North, statistics for the Peking-Hankow and the Peking-Suiyuan Railways are not available at present.
According to the report, the total number of passengers travelling on the Lines was 3,053,303 while the net tonnage of goods transported. was 1,403,616 tons. The income ob
tained was as follows:-
$3,334,194 Passenger Revenue Freight Revenue.......... 3,801,620 Miscellaneous income...
DAILY SHARE QUOTATIONS
HONG KONG STOCK EXCHANGE.
11
FOREIGN MAILS
BADIO. NOTICE"",
Individuals and firms are recommended to register their tale graphie address at the Radio Office. No charge is made for this.
SHAREBROKERS" ASSOCIATION.
Bayere
Ballers)||| Sales |Nominal
MONDAY.. AUGUST 18.
Bay are Spilare i Bales Nomina
INWARD MAILS.
Banks
$1,460 HK Banta
$1,40
FROM
Pra
Doz
2103
Do. (London)
2164 Chartered Banks 203
€171
Mercantile Bica: "A"
£28
Do.
£12
SHATOHAI
Philocteten
19th Aug.
$191
Bank of East Anïs.....!
$115
· NAIGON
Spring
19th Aug.
SILLITO
Van Heulsa
19th Aug.
AUSTRALIA and Masila
Tango Maru
19th Aug.
Insurances
SHABOHLI
Kidderpore
20th Ang
HAYATTA
Tondori
20th Aug.
$945 | Canton Insuranose.......
$940
North Chinas.......
T180
Union InsuranOES
$439
$410
LONDON Parcals (17th July) and STRAITS Buzor via NEOAPATAK" (Letters and||
Papers (London, 24th July) -- JAPAN and SHANGHAI
Patroclus..
Sist Aug.
Hakone Maru
22nd Aug,
EN>
414
M.850 Yangtare Insumeces
$60
JAPAN
Kamo Maru Ginyo Haru
Aug. 23rd Aug.
$965
Pres Folk
93rd
Aug.
Canada, U.S.' A., HONOLULU, JAPAN and SHANGHAI (Vancouver, B.O., 7th Aug.)
...Pres, Cleveland ...
Angera Esp. of Canada...
25th Ang. s6th Ang.
7
27th
1.100 $437
$400
8970
*24 |
a
អឺ! ! ! ! !
11.30 T.8)
019,453
L+4
Total revenue for May...87,478,259
As compared with the receipts of May, 1929, the percentages are as follows:-
+
100 m
Underwriters 2014|| $3,45|| $2,60
$26
: $43
95/7
China Fires ..................... $400 H.K. Fires
Shipping
Douglases Steamboats
Indos (praf)
Da def.)
Shell Transports.... Water-bosta
Mining
$38
Fgths་ ༩༠༨-༠ལ་སྐར་མ་
Tramch Mines
⠀⠀
$43
$40
93/7
...$31
0.8.4., Honolulu, Japan and ShaNG-|
KAI (San Francima, 25th July) U.S.A HONOLULU, JAPAN and Shanghal
(an Francisco, Ist Ang.). -Japan and shangrai
OUTWARD MAILS.
BEGISTERED and PARCEL MAILS are alosed 15 minutes earlier than the time given below unless otherwise stated, and where mails are advertised to close at or before 9 am. registered. and parcel mails are closed at 5 pm on the previous day.
Pzz
DATE and TIME
Tuesday, 19th,
830 & 9,45m
Letters 10.30 AM
Fox
set
Banquets....
30/0
Kailans
54/
Langkate (comb.) .......
TB
Da.. (single)
TH440 $7.40
ksplcoeationsa
ནབས་
TI
Shanghai Loana ...
1.6
**
*1/
Docks, Wharvas,
Kutang
Amoy
Bag.
Godowns, etc.
Thursday Island-due Thursday Is
Kitano Maru
$5
T:117
8183 $5.10 $30
H.K. & K. Wharf.....
$166
land. 1st Sept...
Providents
35, 10
-Manila and Jata via Sourabaya
Tjsbadak...
***
E.K. Docks
*******
$39
Hwatow, Amoy an I *Foochow
Hai Ning...
+
Shanghai Docks...
T.114
California
2.7
New Engineerings
T
Chinhsta
+
***
W
Hoge
Philociates
Number of passengers: increase .280
of 10.29 per cent. Freight tonnage:increase of 9.8
per cent.
Revenues from passenger fares: decrease of 6.54 per cent. Revenues from freight decrease
of 1.5 per cent. Miscellaneous income; incrense af
62.3 per cent.
CHINA'S TRADE WITH
UNITED STATES.
SERIOUS DECREASE.
و الاسود
Hongkews
Lands, Hotels, and
Bulidinga
HK. & S. Hotels... $10.40 HK Landa cam. r $794
Do., ex rights $78 Do
rights
H.K. Realtys $9 Humphreys $15.40 $15.70; Chinese Estates
$10
890
$76
$16
T87 Shanghai Lands...
$0.40
$16
++
$87
***
$10.45
$15
*******
Mania, Australia and New Zealand via
Focohow..
Bog Letters
6.00 PM
136.00 P
Parools
0.00 PX
Beg.
9.15 A Letters 10.00am
Wednesday, 20th,
Chakrang... Tange daru A porg Baldka
8.30 AM 9:30 AM
Shanghai, Japan and *EUROPE vis Biberi Sphin Hanila
Straits, Ceylon, India, Mauritius, E. and E. Afrios, Egypt and EUROPE vis Marseilles-dna Marseilles, 19th,Sept.
Swatow and Amty
Shanghal, Japan, Canada, U.S.A., C. zad" 8. America and "EUROPE vik-Van- | couver, B.C.-due Vancouver, B.C., 6th Sept., and Europe via Sïberia...
Brator.... Гарад
Naura sad Ocean Irland Baigon
Shanghai, Japan, Honolulu, U.8.4.
Canada, Central and South America, and EUROPE via San Francisco- due San Francisco, 11th Sept., and *EUROPE rĩa Siberia
Hohow, Pakhoi nd Haiphong Straits
Manila, Australia and New Zealand vis Thursday Jaland-dus Thursday Laland, 2nd Sept.
134
Van Housias
10.00 AM
2.00 m
2.80 FM
3.80 PX
3.50 PM
Kowloon P.O.
4.30 PM
Letters 4.30 PM:
G.P.G.
5,00 m.
Exspres of deia Wednesday, 2Ctb
·Trinan,
8.30 ..
4.90 **
5,00 PM
Taisula Harn...
Reg. Thursday, Xirt, Letteri
5:00 P
8.50 A.M
Monado Maru Dardanus
Parcels
Changta
Thunday, 21st,
8.30AM
2.80
500 г м
Keg 22nd,9.45 ▲ Letters 10,30 %)
Cotton Mill
T.12
EROS
TAL90
1.80
Shai. Cottons..........
T.70
1.9
Zoong SingsTM...]
T9.30
Amoy
Public Utilities
Tramwayd
$19.20
882
Peak Trama (old).....] $19)
Da (new)... $61
Star Ferries are
C. Lighta (old)..... 813-
Do. (new)....
HK. Electrics 762 Macao do. BANK Bandakan Lights Telephones (fully pd.)
Do.
(part pd) $20.90 China Buses.*******
(UNITED PRESS.]
REPLIES TO READERS.
Washington, August 12.-Pur- Every week in this column chaser of Chinese merchandise for Katan "replies to corresponddats the first half of 1930 have amounted
$18:40 $1860) $18.40
($12)
86.13
$85
$24
$20
$77.
|
.8111
$32
$214
T.181
10/-
Tractions
18/0
Do. (pra£)....
Industrials
who may have questions to put re-to a value of 0.866,358,000 as com- garding the prospects of any stock quoted in Hong Kong, Shanghai pared with G.890,$78,000 for the first or Singapore. Questions regarding half of 1929, according to advice principles, practice, and custom can received here by the U.S. Depart also be dealt with.
Correspondents are "asked to flment of Commerce from its Shang- up the coupon appearing elsewhere hai representatives.. and address their queries
to
UNION INSURANCES - There"Kufan," care of the Editor of was a small demand for this stock this paper, and to give their names towards the close of the week. and address. It is desirable that Shares are wanted at $440, and I think a little more might be paid this week.
CHINA UNDERWRITERS-This #tock appears to be gradually weak- ening. Buyers are now only offer ing 82.40, and sellers are asking twenty seats over. Rates will prob- ably recede further.
OHINA
HONG FIRES and KONG FIRES are wanted respec- tively at $100 and $960.
*
+
+
DOUGLASES have buyers at $90.50 and for the time being they
jook strong.
STEAMBOATS Shares can be obtained at $24.80 to 925 from & few small holders.
STAR FERRIDS-Sellers are ask ing $84 and buyers are offering only $63. The demand for these shares is slightly easier for the moment.
HONG KONG & KOWLOON WHARVES-At $101 shares in this stock are available, and I hear that A few fairly large parcels changed hands during the past week at this figure.
HONG KONG & WHAMPOA DOCKS-There has been no in- quiry for these sharek
HONG KONG HOTELS. have come down to $10.30, and appear steady at this figure.. I hear that a number of shares changed hands at $10.25 to $10:35 during the past
HONG KONG LANDS were the medium of a fairly large business Cast week at $60 cum rights and ex dwidend. They closed with further buyers at this figure. Some busi- ness was done at $76 ex rights, and hear the rights (that is to say, the new shares on which a call of $60
bor by id) are selling
HONG KONG HEALTIES After business had been done at $9,2% to 9.40, the market closed for the week with buyers at the former figure.
HUMPHREYS are fairly steady at $15.40,
nom de plume be also included, in order that readers can readily identify the answers intended for them.
Every effort will be made to give as full and detailed a reply as possible, but no responsibility what- ever is admitted by the writer in so doing.
Those who have written for in- formation last week will find an swers to their queries below: VIC-1-Do not touch this stock now or at any time this year. 2. I cannot say if it will touch 819, but the chances of improye ment before. October-November art very lean, 3-I think there will be a further drop in prices. It is not a stock I would recom- mend to any investor,
GRATEFUL 1. — If the shares should drop to the figure you mention, they will not rise for a long, long time, so that you would be anything but "perfectly safe."
Accept "A" 3.--I am in- chiaed to agree with your friends, but am not so optimistic as they However, if the seem to be. shares can be had at your figure,
"
EXCHANGE RATES.
[BRITISH WIRELESS SERVICE.]
$173 $17.30
дро
**
IN
79%
:::
Muninngi
***
Wei Hai Wai via Swatow and Foochow
Bestow, Amoy and Fooshow
Shanghai, Japan and FUBOPH via Siberia Hakone Harı.
Btesite, Ceylon, India, Mauritius. E and
Friday,
2ad,
Huichow
Haiching
10.00 a m
100 I'M
3.90.
Kowloon P.O Reg.
4.30 **
B. Africa, Egypt and EUROPE vis Marseilles due Marseilles, 22nd Sept.
Kama Maru... < (Lot, 3272, 0.00 ♣ M
0.2.0.
$21
$17.90
813
Do.
Bope NGONISTA.
$11
Chins Sugarsamni
827
Malabon Sugars
24
#5
United Asbestos
Hoilow, Pakhof and Haiphong Japdo, Canada, USA, Cand 3. America and *EUROPE vis Victoria, B. dae Victoria, B.C., 16th September Amay
Changtu
Reg, 23rd,545 & M ["Lettera 9,30AM
Saturday, färd,
8,30x
ماه
Bog,
9.45 AM
Protealasa
Anhui PIL POLK
Manilla
F
Miscellaneous
T.101 Caldbeck, \(ord.) | T10.40 Macgregor pref.)
#2.10 Canton Less
Comenta (comb.)....
#121 Do (old)...)
(new).....]
Dairy Farms....... Der A. Wings.......
Amusements.........
Swatow, Amor and Formoen...
Bangkok via Swatow...
Hosan Maru Kwangakowa
Letters 10.30-1
5,00 6.00 PM
Sunday, 24th,
8.00 AM 9.00
Monday, 25th, 10.50 A Parcals Nov Letter 1.00 PM Tuesday, 26th,
1.00
Komaloom P. Q. Bag. 100 ▼M Letters 1.00 P
G.F.O
1.45 PM
$10
Rucay, August 17.
$0.90
Paris New York Brussels Geneva Ámsterdam Berlin
129.87
4.67 6/32
34.84
23.04
.12.08%
824
$24
20.99
81
Milan....
92.97
$26
•
325
Stockholm
18.12
310
Copenhagen
18.16
$1.90
Chin. Entertainm'te.) Constructions
$10
$3
Lane Crawfords
$1.90 $3
Sandakan
Oslo .....
18.161
Straits and Calcutta
Marsang
Namsang
34.433
Helsingfors Madrid
164 3/16 183 7/16
11
TE
$19
45.90
82.85 Wm Powells.........
F
Lisbon
108.95
627/
B. Ind. G. Bonds...
Athena
་་
144
Bucharest
375 818
812 prem H.K. Govt Loans...
$108
Swatow, Amoy and Foochow Balgon, "Straits, Ceylon, India, Mauritius, “ East and South Africa, Aðna, | Egypt and EUROPE wis Marseilles -- "due Marseilles, 27th September need
Easyang
Angare...
Bag. Lettera
Manila
Fr. Cleveland
2.80 F 4:30 PM
Swatow
Kwassung... Gingo Maru
[Wednesday, 27th
8,80 À M
10.80 M
Vienaa Prague
Bio Buenos Aires
Bombay
Shanghai
Yokohama
Hong Kong
4 15/16
40 15/16.
*1754"
1/3 0/16 2/011/32 Silver, spot & forward 10.
there might be a small profit by The new cruiser Dorsetshire, the end of the year. 4.-If the price should touch so, you would built at Portsmouth, and which
not be unwise to buy. Regarding commissioned for trials recently, is the last part of your letter, you
to be completed at the end of
are right about Chinese investors. September. Orders are issued for Always glad to be of use to you. her to commission at Portsmouth Tell your friends to write in when ith a Devonport crew for ervice in doubt. +
in the Second Cruiser Squadron, DOUBLE GLOSTER.-1.-The relieving H.M.S. Frobisher, Capt. market generally is weak. If you Director of the Naval Air Division, I. W. Gibson, O.B.E., M.V.O,, lite are not in any particular hurry, has been appointed to the Dorset- do not sell this stock, as it may shire. The Frobisher, on relief, will go up next year. The star in rates in the Shanghai stock is be placed in reserve at standard solely due to speculation. If your potice, at the end of the Atlantic boldings show a próft get out. Fleet summer leave period, early in September. The port at which the vessel will reduce is still under W.F.K-If you had, written me
before buying. I abould probably consideration. The compiston of Bot have to advise you now. The the Dorzetshire will leave only one market is weak and there is little cruiser actually under construction likelihood of the shares recover Tor" the Royal Navy Thy to the har toe Preteur sun cart the 1927 ptogramm bold on, I see no reason why The 1928 programme (Surrey and rates should not recover sufficient Northumberland) was cancelled, eh. ly for you to get out without tirely last year, and the 1929 pro- loss,Whether this will happen gremme was reduced to one ship before December or not, I can't (the Leander), the keel of which is say, but the probability is in your not yet laid The Exeter, is due to
be finished in June, 1831 favour
+
Mackintoshs...
Nanyang Tobacco...
Sincares POLARRY
Watsons.....................
AMERICAN STOCK QUOTATIONS.
LATEST WALL STREET PRICES.
The following quotations have been received from their ear. respondents, Messrs. Hayden, Stone & Co. of New York by Mesars. Swan, Culbertson & Fritz, Bassoon House, Shanghai, (cable address: Swanstock, Shanghai), who are not responsible for cable mutilations :-
NEW YORK, August 16, 1930.
Last Dividend.
Tone of Market-Easy.
No. of Shares done. 1,000,000, Call Money per coat.
American. Smelting Anaconda Copper Baltimore and Ohio Borg Warner
Continental Oil City Service Common Curtin Wright Common Eastman Kodak
Electric Bond and Share- Erie Railroad
General Motors General Railway Signal Gold Dust
Goodyear Tire and Rubber Granby Consolidated International Cement International Nickel
Nevada Consolidated Co Radio Corp Bears Roebuck & Co. Simmons Co. Standard Oil of New Je Standard Oil Co. of New Union Carbide and Carb *United States "Rubber: "United States' Stanl
Japan, Honoluiz" "Ban
Bouth American For Manila.... Amoy (444
3,80,
Straite, Ceylon, India, Mauriting, East and South Afrios, Aden, Egypt and EUROFE via Marwilley-due Mari seilies, 17th September
Zaip, of Canada....
Taiyuan.
*Superscribed ourraspondence only.
6.00.
Friday, 29th,
Boriços P.0. Parcels 480 P Beg 80th,9.00 AM Letters - 10:00 21 BG.R.Oy ||Par,29th; 5:00 pm. Beg 80th,945 AM Lettem 10,80 a 3.
Latest Sales. 07
3.50 7
430
101
None
AL
30 A
None
B
209
None. 30
Unq.
5
75
40
P. O. Box 1, Hong Kong
62
Nono
Ung.
is the Address. Write an Order for
Weekly Press to be
Three Months or Thirty Years. The first will cost you $4.00, and the Annual Subscription is $16.