12
Money and Markets
HONG KONG SHARES.
BENJAMIN & POTTS' WEEKLY REPORT.
The past week opened rather quietly, but now the August Settle ment is over, there is a noticeable
RUBBER
4d. "PER POUND?
TAPPING HOLIDAY
INEFFECTIVE.
The Qity correspondent of the Manchester Guardian writing in London on August 6 says:-
Mineing Lane professed to est
expansion of business and rates for most stocks have hardened in sym- pathy with the demand. Although
new law "record" pries irregularity will probably charac-ablish a terise the local market for the next for rubber to-day, when some toos few weeks, there is cause far be- of the commodity changed bands at lieving that its immediate future 5d. per pound. This was a spot transaction. Several toas were will be more encouraging.
Danks-Hong Kong and Shang.dealt in at 4-5/168. per pound, but hai Banks were dealt in at the cut this was for delivery during this set at 81,125, but since the recovery month and ranked as a deal for in the London price to £10T
forward delivery. Outside (Middle), the market has strength-
the ened and there are buyers at $1,465. Rubber Exchange there were" eam
Marine and Fire Insuraners-unieative dealers telling City Both Cantons and Hong Kong journalists, that rubber, has never Fires are in strong reqnest and are enquired for at the enhanced rates been so cheap, but in the offices or
HONG KONG DAILY PRESS, SATURDAY. AUGUST 30, 1930.
CANTON BANKS LOAN
CONTRIBUTION.
PROTEST AGAINST. DİS- CRIMINATION.
[FROM OUR OWN CORRESPONDENT.)
CANTON, August 29. The banks in Canton are strongly procesting against the Government's decision to make them take up bonds for the new $15,000,000 lenn which is being floated to the extent of 3 per. cent of their registered capital They contend that they are being discriminated against, since all the ops and stores in the city are re- quired to take up 3 per cent, only. They fail to see why they should be made to take up an additional 2 per cent They further argue that they have been shouldering the the financial responsibilities of Government considerably more than other firms. They are now practi- cally crippled and are rot in a position to take up these new bonds
to the tune of 3 per cent. of their capital.
of 8355 and $1,000 respectively one well-known brm of brokery estreplied to this appeal of the banks. without attracting any sellers.blished last century hangs a fram Unions have again been put through
at 8440 and $449. China Fires are ed price-list that shows rubber to
still wanted at $409. Underwriters have been sold' freely at 20: per CANTON CEMENT FACTORY. are higher with buyers at $2.80 and sales reported at $2.90.
pound. This was in February, 1946, when Brazil supplied the world with its rubber.
Shipping. Douglas Steamships are much firmer and were placed at S. Steamboats are in demand
Mincing Lane men are now won- at 895.Shell Transports have receded to 37/- Waterboats are undering if there is anything to stop changed.
spot rubber dropping to Ald. or Docks, Wharves and Godowns. oven 4d. per pound. Apparently Kowloon Wharves, after weakness the month's stoppage in May, when in the early part in the week have tapping was almost suspended, has reacted to a higher level and a dercand for the shares has since done little to reduce stocks here or raised the price to 8185. China supplies sent direct to America. Providents changed hands to a fair
It would seem that producers mere- exteal up to 864. A small declinely tapped as much rubber as pos. has occurred in Whampoa Docks to sible before the May holiday and $38. Hongkew Wharves continue ever since. Last week London's Shanghai warehoused stocks, at 80,379 tons, it request at Tls. 200. Docks have lapsed to a nomina! showed the first. decline since the quotation of Tis. 118
beginning of December last year, but it was only a matter of 485 tons. In Liverpool 28,404 tons are in warehouse, against 4.062 tons a year ago.
Lands, Hotele and Buildings Hong Kong and Shanghai Hotels were dealt in to some extent round about 810). Realtys have weakened
a little and were sold at $9. An With rubber prices at their cur- improvement is to be noted in rent low level many of the planta Hong Kong Lands which have been the medium of a fair turnover at 880. The Rights are wanted at $18 Humphreys Estates are still on offer at $16. "Shanghai Lands are unchanged. |
Publie Ctilities-Hong Kong Electrics have appreciated and wese booked at 878 and continue in re quest. China Lights (Old) further advanced to 8242, but closed easier with sellers at $21.60. Hong Kong Trams are on offer at $18 ex the Interim dividend of 40 cents just paid. Peak Trams (Old) can be Blared at $12, Telephones have continued their upward movement and buyers are now offering 8353 and $23 for the Fully Paid and Partie Paid shares respectively. "Star" Ferries at 885 continue neglected.
Miscellaneous. - Green. Island Cements (Combined) are obtainable at 917.30 after sales at this figure, Hong Kong Ropes were done at $10.70 and
continue in request.
China
Dairy Farms were realised again at $251, but have since stiffened and can be placed at 8254. Sugar's have been the medium of a fair amount busincas up to $1.40. Watsons after having touched 811
are now wanted at 811.93. There are buyers of Hong Kong Govern- ment Loan. at $108.
ing at a loss. It is becoming a tions in the Far East are produc- very serious matter for companies that have not succeeded in materi. ally reducing costs of production, When a similar thing happened several years ago seme Americans bought plantations that were on the verge of bankruptcy, but in these days it pays Americans much better to buy the cheap rubber available here and at the Far
Eastern shipping ports.
Bri-
DAILY SHARE QUOTATIONS
HONG KONG STOCK EXCHANGE.
SHAREBROKERS' ASSOCIATION.
BuyersBellere Baise Solar
FRIDAY. AUGUST 29.
Buyers Bellers Salus aminul
Banka
$1,485
!!!!!
3:199
£1073
013
LEST
H.K. Banks
FOREIGN MAILS
RADIO NOTICE.
Jadividuals and Arms are recommanded to register their talo- graphic address at the Radio Office. No charge is made for this.
· MANILA SA
MANILA
STRAITH
SAIGON
יזי
Nanchang
INWARD MAILS.
$1,440
Do. (London)
Faux
Prz
Doz
Chartered Banks
£17
Mercantile Bs. “A”
298
£1
Doi
*C*
212)
Bank of East Asia...!
$115
Shanghai and Amur SHANGHAI and Swarow SHANGHAI and AMOY
Both Aug
Bunning
90th: Aug,
Tronidari
31st Aug.
Insurances
Pres. Oleveland
Emp of Canada...
1st Sept.
1at Bopt.
$955
$3.80 1.180 $458
3400 $1,000
Canton Insurances. $900 Underwriters
Jab Bapt.
$2.75
Geni, Matsinger ---
lat Sapt
$44$
North Chinas......... Union Insurances... 5430
T160
JAPAN 100 JAPAN...
Sydney Maru
2nd. Sept.
Tanda
3rd Sept.
M.850 Yangtans Insurances
Tibor
3rd Sept.
China Fires ******** H.K. Fires.....
$400
Oldekerk...
6th Sept
3985
Pros. ¿Sams
7th Sept.
Shipping
Pres. Pierce
8th Sept.
#281 325.10
Douglases
3221
...St. Alban
8th Sept.
Steamboats
$43
Indos (pref)
Do. (def.)
$43 $10
87/0
Shell Tisnsporta, ---
93/7
Water-boatsomaan
$31
Mining
Benquets.......
2013
Kailansangan
98/8
The Government has not as yet
Langkata (comb.)...!
T14.40
T.SI
Do. (single) .-•
$7.40
T1.30
...Explorations.
T:8
Shanghai Loans
T6
$29
Raubs
Tronoh Mines
21/
Docks, Wharves,
Godowns, etc.
$166 $168
851
ELE. & K. Wharfs... $164
$5.20
Provideats
$5.20
H.K. Docks
7.118 Shanghai Docks
2.71
Hongkewe
CAPABLE OF PRODUCING NEEDS OF SOUTH CHINA.
[FROM OUR OWN CORRESPONDENT.Į
T.260
$791
12
$131,
$9
$91
$18
New Engineerings
Lands, Hotels, and
Buildings
·H.K. & S. Hotels...$10.60 H.K. Lands cam. r. 87
Da, ex rights $73 Do
rights $1
T.297 Shanghai Lands
H.K. Realtys. Humphreys
That
| 791,80)
$75
CANTON, August 29.
which has been under construction The Government dement factory, for the past two years or more at Sai Tsoon, on the western suburb of Canton, is expected to be ready $10.65 $10.70 for operation six months from now, according to Mr. Tang Hung Yee, managing director of the enterprise. The greater part of the machinery has arrived from Copenhagen and is now installed, and the remainder is on its way here. The site oc cupies an area of some 40-mote of land, and many of the buildings thereou, including the workmen's T11.00 T1215 11.90/19 quarters, have already been complet ed. Cement of the best quality s expected to be placed on the market
next March.
44
TIRER
M
It
SOURABAYA ... SHANGHAI
U.S.A., HONOLULU, JATAW and SHANG-1
HAI (San Francisco, 8th August) U.B.A., Honolulu, Japan and SHANG-
HAI (San Francisco, 15th August)...) AUSTRALIA and Manica
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 0 mm. registered and parcel mails are closed at 3 p.m. on the previous day.
FOR
PER
DATX and TIME
Bog
Kashmir
its, Caylon, India, Mauritius, East and South Africa, Aden, Egypt and EUROPE via Mareillesdzë Mar-, seilles, 27th September
Hoihit and Bangkok...
Shanghai and EUROPE via Siberia
Swatow, Amor and Formosa...
Bangkok via Swatow...
Kiungchow Danang...
Pres. Madison Henkor Sunkong..
Anking
Saturday, 30th, Kowloon. P.0.
9,00
Letters 10.00 A M
G.P.O. ¡Beg. 9.45 A Letters 10.50 x
11.30-
3.00
$39-
7.116
Manila
T
Saigon...
Fort Bayard
Amay
and S. America and EUROPE via
Shanghai, Japan and *EUROPE via Siberia Genl. Matningar.. Brator...
"
"
4.30 PM -500FX
3,00 PM
5.00
Sunday, 31st,
9.00 A 9.00 A M SEPTEMBER Monday, 1st, Parcela 11.00 AM
Canton Maru Кокзаль
*Shanghai, Japan, Canada, *U.S.A., *C. }}
Pres. Cleveland
1900.
11.00 A
per
2.10
318.40
Victoria, B.C.due Victoria, B.C., 19th September
Letters
Noon
$67
Chinese Estates
Feochow
Ohanar
Noot
ΠΡΟΣ
Cotton Mills
Hydrangea
300 FM
Ewas
T.12 T.12
Tuesday, 2nd.
T.83
S'hai. Cottona....
T.30
Manila and Java via Sourabaya
Trisondari
T.94
Loong Sings
T9:30
Swatow, Amoy and Foochow...
Haiching
Manila, Australia (accept Thursday Island):
and New Zealand"vis -Brisbane-due
Sydney Maru.
$18 $12 $6.95
$18.10 ex dir.
484
:
under foreign expert supervision. The whole work is being done The output of the factory will be 1,300 barrels of cement a day, work- ing on 24-hour basis. This amount, according to the promoters 324.40 $24.60 $241/60 of the project, will be sufficient to
$78 $781 378 supply the needs of South China.
11
NEW YORK STOCK EXCHANGE.
While rubber is so cheap the coloured producer, who works on the most inexpensive lines, stands to make small profits, hence the during May when the most import constant stream of rubber supplies ADVANCE IN INDUSTRIALS. ant producers ceased tapping their trees. In Ceylon there are tish rubber planters who can cut down costs, get 4d. per pound (London) for their produce, and yet make suficient proft in lenn times to make both ends meet. The coloured plantera in Ceylon can do with 3d. per pound. It is the rub ber company in Ceylon or Malaya, with directors and offices in Lon don, that must work at a loss if current expense, cannot he still further cut, down.
[UNITED PRESS.]
New York, August "23.-Under the leadership of U.S. Steel, the New York Stock Exchange was firmer to-day and the whole list of industrials advanced, says the daily review of the Dow Jones Financial News Agency,
$307
Public Utilities
Tramways..........
Peak Trams (old)...
Da (now)...
$18
Star Ferries 283
C. Lights (old)...... 824). Do. (new) l
****** $78
Telephones (fully pd.)
Do, (part pd.)" $23† Chinus Buses..................
Tractions odajust
H.K. Electrics
323
Macao do.
$113
Sandakan Lights
$231
7.183
19/-
Do. (pref)
$29
+44
$255
BI
Industrials
T101 Caldbeck, 1(ord.)
TIQ.40 Macgregors J (pref.}}
Canton Ices
Dairy Farma....
Chin. Entertainm’te.j Constructions.......
In
$12)
$64
$215/60
$78
Aging i
6/9
Brisbane, 16th September
Straits, Ceylon, India, Mauritius, E. and
8. Africa, Egypt and EUROPE via Sarpedon Marsailles--due Marseilles, 1st Oct. ...
....
Hangrang Trinan
tar
10.30 A
1,00 Beg 415
¡Letters
3.00 Kowloon P.O.
LLattere .4.30
4.30 PM
Raz
G.P.J.
Ber
5.00
Bwatow... Amoy
Shanghal, Japan, Canada, U.S.A., and
8. America and *EUROPE via Yaz couver," B.C.-due Vancouver, B.O.. 19th September
Foochow via Swatow ....
Wei Hai Wai via.Swatow and Foochow Sandakan
Manila, Sandakan, Australia, and New)
Zealand via Thursday Island - dae Thursday Island 20th September Swatow, &moy and Foschow...
Letters 800 PM
Wednesday, 3rd,
8,3020 480
Parcela $.00 P Emp. of Canada Tharaday, 4th.
Reg.
9.15 * Letters 10.00 a m
Thursday, 4th.
$.00 PM
5th,
Kutsarg
PATCala
10.80 A M Noon
Lettera 145 » ■..
2.30 T
3.00"
Saturday, 6th,
Ohip Shing
SLIGHT IMPROVEMENT IN SITUATION.
$2
$11.90
Cements (comb.)...
312
Do
(old)...
$17,80
$13
Xucichow.... Hinnang
Friday,
10 30
***
$5%
Do. (new)....
Tanda...
34
$10.65 $10.80-810.70
$12
Bopes
$10.60
$10.70
Lotters
$11
China Sugars...........
Haiyang sự
13
+2
A
#27
Malabon Sugars ...
$29
United Asbestos” .....
Miscellaneous
Hoihow, Pakhol and Haiphong Rabau!
Tran Bremerhaven
8.30 1 Noon
DAR
$25
Monday,
8th,
$26
Der A. Wings......... Amusements
Amoy
Yuen Bang
3.00 ▼ M
520
$10
Tuesday, 9th,
4.
$10
$1.85 $1.80
81.90
$24
Lane Crawfords ... Mackintoshs
...$1.70
Straits and Calcutta
Parcels Letters
Noor
1.00 M
$4
5111
$12
8%
prom.
$2.86 Wm. Powolls 62. B. Ind. G.8 Bonds... 61%
H.K. Gost Loans ...
$21
$108!
QUOTATIONS. ..
New York, Ang. 23.
International Cement International Combaston Eng.
67 Muti.
Matl. 54
International Harvester.
International Nickel
International Tel & Tel
23 2528
Johns Manville
Konnecott Copper
341 34
27231
24 241
971 931
71 72
24.23
321 321
$187
+4
The Dow Joncs average wag off Both Dutch and British proda- 21 to 234.45 for 30 industrials but cers have faced the situation and S. Steel. closed up a half to 169), Cotton Mills-Ewes have had a made public their view of the fu- Bethlehem closed up a half to 81, slight relapse and were sold at Tis. ture. What they want is joint ac Westinghouse was up 14 to 143, $11.60 11.00 and Tls. 19. Shanghai Cottion between. their Governments General Electric was up to 71 and $11.95
and another official scheme to re American Waterworks, was up an tons are steady "nt Tis. 83.
that eighth to 50%. guinte rubber supplies so stocks will dwindle and supplies Radio Corp. was active and prov- be kept down to balance the lea ed a favourite with the traders. sened demands of the world's rub- The Dow Jones average for 20 her users. Rubber Freetraders pre-atilities was up 39 to 84.48. with fer a survival of the fittest com America Tel & Tel. up a quarter panics to another trial of rubber to 211, International Tel & Tel. restriction.
ap ac eighth to 448. Public Ser rice of New Jersey up to $1, Columis Gas up to 60 and Con solidated Gas up to 1063.
Rubberi. The price of the raw material has weakened to 44d. per H. and we append the latest cabled quotations received from Shang- hai:-
Anglo-Javas Anglo-Dutch Batu Anams
Chemers
Consolidateda
Kroewocks
Ropahs Tanah Meraha
Buyers
$3.60
3:20
.40
2
1.20
2.03"
1.30
..93
دار
Chief Judge of the Provincial 1.00 Supreme Court, has been organized for the purpose, The Committee has its office in the Industrial and Commercial Bank building and has been going over the books of the firm for sometimes
- 5,00
Tebonga Ziangbes Exchange-The T.T. rate on Lon- den is 1/32 and on Shaighai 894. Forward Settlement Days, September 20 and October 28, 1930.
In order to facilitate matters and to secure justice to those concerned, the Committee has decided to in vite the creditors and shareholders to come to the Bank and register, stating the exact nature of their connection with the Bank This registration must be done sometine during next month. After that. COMMITTEE ORGANISED IN most likely a creditors meeting will
INDUSTRIAL AND COMMER- CIAL BANK.
CANTON.
[ZOM OUR OWN CORRESPONDENT.]
be called.
Loews featured the amusements. Warner Bros. Pictures closed up a quarter to 251, Fox Film "A" was up
to 44 and Paramount-Publix. Corp. was up to sak.
Further trade reviews made pub lic to-day showed evidence of alight improvement in the situation, and brokers began making specific re commendations on a basis, of the new data. Many predict a definite advance in September as a welcome release from. current hard times.
The Dow Jones average for 20 rails was up 1.16 to 126.02. New York Central was up 1 to 100, Pennsylvania was up a half to 791
Canadian Pacific was up to 173 and B. & O, was off 11 to 05:
The Committee, after going over the accounts of the Bank, states that Among the coppers, AnaconD S the Baak bad leaned out over rose half a point to close at 451, 3170,000, of which over $50,000 has Kennecott was up to 247, Calumet bern collected and placed in the & Hecla was up an eighth to 139 FARION August 20. The Canton Government through Central Bank of Onun Yi Cufriomretherard the Provincial Supreme Court, is The balance is being collected. But an eighth to 18
General Motors' closed at 45, the taking stops to clear the books and against this the Banic owed its accounts of the. Canton branch of creditors over $500,000, being the same lavol as yesterday. Chrysler the Industrial and Commercial amount of deposita placed with the was similarly unchanged at 234 and Bank, which went into bankruptcy Bank. The Committee expects to Packard at 10. Goodyear Tire sometime ago following its head have every account cleared up with rose 14. to close at 604 and U.S. office in Hong Kong. A Committee in a month, after which the credi- Robber was up an eighth to 201, headed by Mr. Law-Man Chuan, tors and shareholders may expect (Continued at foot of next column.) to receive what is dus to them.
Sales for the Saturday half-day | Bession amounted to 600,170 shares.
Nanyang Tobacco... Hincere cómouyada
Watsons ***+49) «******
Market firm. Business done, 1,355,000 abares.
Ang, 21
Adams Expres..
American Can, ya
American & Foreign Power American Bolling Mill... American Smelting American Tel, & Tal. American Tobacco B American Waterworks... Allaconda Copper Atlantic Refining Baltimore & Oblo Bethlehem Steal- Borg
Calumet & Becia Canadian Pacific Ballway Chicago Rock Islnd Chrysler...
Cities Service Common........ Columbia Gas & Electric Columbia Graphaphone Commonwealth & Southern Commonwealth & B. Warr Consolidated Gas of B. Y. Continental Oil
Corn Products
Curtiss Wright, Common Da Pont de Nemours. Eastman Kodak...
Mectria Bond & Share..
Fox Film A General Electric General Foods General Motors General Ballway Bignal Gold Dusk red, Goodrich Bubber Goodyear Tire & Bubber: Granby Hershey Chocolato
126 1274 Kreuger & Toll...
70 701 Kroger Grocery...
554 Liggett & Myein “B”
- 65
664 661 Low Inc.
211 211
Ladium Steel....
262 2561 Montgomery Ward
784 781 21+. 224
Math. 801 Nerads Consolidated Copper... Mutl. 19
48 45
New York Central
381 864
Pacifio Lighting
881 971
Pickard Motor Car 801-801 Paramoant-Publix Corps. 29 Mutli Fennsylvania Railroad 131 18 Penrod Corpn. 170 1721 Phillips Petroleum Pablis
Service of N. Jassey 95.95 2328 Radio Corporation
Raido Keith Orpheum Reynolds Tobacco B′′ Boats Boabpek
· 274 - 271:
18:131 13
181
Shell Union
Mul. 31 Simmons Company
Southern California Edison 105 106 Standard Gas & Electric
19 19
20091
Standard Oil of
Naw Terwy
O
7! Standard Oil of New York... 113 1151 Texas Corporation
1073 2101 Texas Gulf Sulphur
79 80 Timken Roller Bearing
Į Union Carbido & Carbon:
60-70
55 55
Matl
Union Pacifio Hailwaylın
United Aircraft & Transport
152 165)
761 751
18) 18
69......681
719
10
10
917 517
40 305
зарны
ett 511
"Superscribed correspondenos only.
AMERICAN STOCK QUOTATIONS.
LATEST WALL STREET PRICES.
The following quotations Eave 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 responsibla for cable mutilationska Tone of market.-Irregular. No, of sharce done.-1,500,000.. Call money per cent.
American Smelting
Anaconda Copper Baltimore and Ohio Borg Warner..... Continental Oil ...... City Service Common Curtis Wright Common Eastman. Kodak
Electric Bond and Share
NEW YORK, August 28, 1930.
-Latest Sales:
60 44-5/8
InstTM Dividend.
4
3.50
3
None
30c. A
29
·210-
None
5B
81+
614
2525
Erie Railroad ..... General Motors
None
20
General Railway Signal
984 1011
Gold Dustusimi
2
70
Goodyear Tire and Rubber Graaby Consolidated
International Cement
5T
212-211-
United Goa & Improvement ... 354 861 United States Rubber
40 Mutl United States Steel
2212221
Vanadium
01253: Warner Bros. Pictures Westinghouse E. & M.
23
021
95 Hut
Woolworth
International Nickel Montgomery Ward
Bears Roebuck&Co. Simmons Co.
Standard Oil of New Jerse Standard Oil Co. of New Yor Union Carbide and Carbon..
United Aircraft and Transport. United States Rubber ............. United States Steel
2.60
101.
·20