ADVERTISEMENTS.
CORRECTION.
**
METAL MARKETS.
SLIGHT DECREASE IN
PRICES.
The following weekly review of the metal markets has been issued by Mesars. Rudolf Wolff & Co. under date August 1:-
HONG KONG DAILY PRESS, TUESDAY, SEPTEMBER 9, 1930.
RUBBER MARKET.
COMMENT FROM LONDON.
RENEWED WEAKNESS.
SUGAR INDUSTRY CRISIS.
SERIOUS POSITION IN JAVA.
The annual report of the Syndi- cate of Sugar Factories of the Dutch Indies for 1993 states that the world situation in the sugar industry was extremely critical, and conditions were worse than
and on the Continent, continues quiet, and business in America is reported to have been only of very moderate dimensions. The easier THE FOLLOWING NOTICE CANCELS
tendency of the market and down- Tax PREVIOUS ONE
ward trend of prices reflect the DATED 25TH AUGUST, 1980.
quieter conditions prevailing at consuming centres, in consequence "In our issue of Saturday, a tele- NOTICE."
of which busers have adopted &gram appeared quoting the price reserved attitude. In spite of the OTICE IS HEREBY GIVEN
decline of £2, a fairly steady under- of rubber at 47/18. per lh, the tone is maintained which, if dove-lowest on record. The China E that the CHEE LEE FIRM (a) being Leases of the Chop Markets have ruled easier and loped, might inspire a little ton press and "Telegraph of August 14
fidence this in turn should stimu of CHY LOONG () CON- prices are all slightly lower as com-late a more active general demand commenting on current market con- FECTIONERY of CANTON and pared with those prevailing a week and a wider buying interest on the ditione said:
| those prevailing during the slump HONG KONG and of its Registered ago, the comparative weakness be part of consumers who have hither- Trade Mark "THE COCK BRAND" ing due more particularly to lack to contented themselves with satis the week to relieve the gloom that
Nothing has transpired during of 1990-91. have CEASED to Orry on their of interest displayed by barersfying only their immediate require-surrounds the rubber producer.dustry, the report states, is large-
ments. Moreover, the market must Market selling price has again Business as such Lessee as aforesaid largely due to the holiday schson and that the Original Partners and/or than to any particular selling sooner or later bobefit from the made further low record quota ly due
to force prices below current levels, production, of which there would tion becomes more and more seri-world is living under restless poli- pressure, for sellers seem indispod steadying influence of a restricted
to under-consumption. Day by day, the situa- Nearly half the population of the which for the most part are general- seem to be at last some fairly con-oug for oven the strongest, whilst ly thought to be low enough.
crete evidence.
to many who have not got consider.tical conditions which sharply in- Options. Double £12, Single fable financial strength the despera fuence econome prosperity. How- Cash.-£136.5 (opening), $136.10 tion point aproaches nearer. Some evar important auger may be as highest), £134.2.6 (lowest); £134.2.6 relief has been afforded to growers (closing).
Three months.-138.5 (cpening), £138.5 (highest), £135.17.6 (lowest), £135.17.6 (closing),
Owners of the said CHY LOONG CONFECTIONERY have CAN CELLED the Lease of the said Chop and Trade Mark accordingly. IT IS HEREBY NOTIFIED that Ma. LEE KEE (*) has been
appointed as MANAGER of Our
CHY LOONG CONFECTIONERY.
LEE KAN SEUNG of LEE SUNG
TAK TONG,"
***
LEE KEE of LEE MING TAK TONG,
李明堂李塞
LEE WING KWAN of LEE EXIU
SHING TONG,
李紹誠堂李榮耀 IP HING YAN of IP KING
Y'RE TONG,
1+
·葉敬裝堂業 恩
Tin.
Turnover for the week 2,350 tons.
Copper.
tion-
L
The present position of the in-
Straits Settlements by Government as a luxury by the great mass of in the Federated Many States and an articl of food, it is regarded action in reducing the miniinum the people. China, India
rates for labour. We trust that
and
Tin
has gradually declined throughout the week, and prices at the close show a decline of £2.5.0 cash, and Ez. 10.0 for three months as compared with our last report. Sales in the East during the week have amounted to 1,095 tons; 'ahip-
this relief will also be brought Russia have ceased to be the en- ments thence up to the 11th instant were 2,480 tons, and for the month
about for producers in Sumatra ormous markets that they were, and Java, though the reduction and Central and Southern Europe, are still estimated at 7,500 tons. Copper has ruled easier, the price will probably not be in the same Premiutis on Straits and Banka showing a decline of £1 as com-ratio to that in British Malaya. although greatly recovered, are Tin are quoted at £1.7.6. and £4pared with our last report. Statis
still below normal. respectively. Demand on the part tics published on Wednesday, of
So far there is no Indication of of consumers, both in this country which we append some particulars, any action by the Government of
Java's low production costs are disclosed a further increase in the British Malays and the Dutch (largely neutralised by the "general Refined Stocks at 5,000 tons, but East Indies. The absence of any policy of protection, but a sharp this was offset by a reduction of definite scheme to place before the about 14,000 tons in the stocks of the authorities added to the fear reaction, is expected in the not too Blister. The publication of the that the Dutch Government may distant future. The protective figures had no appreciable influence not give their support has had a duties imposed by the United on the course of prices, the market depressng effect On the market, weakening since on
States inflict incalculable damage report that but we must rernember that nego price reductions had been effected tiations of this nature must take on producers in other parts of the in America, and that Electrolytic time. The plain fact is the indus world although American interests was offering at 10.73 cents, as com- try has arrived at a position that pared with the Association officials beyond its control. Indeed, it would be met by other countries price of 11 centa. Demand on the one where Government help is being eager consumers and solvent part of consumers continues dull needed if great hardship and loas debtors. This view must triumph and as the outlook in this direction on many is to be averted. «
in the long run. does not seem to indicate any im. mediate recovery, it would appear that some further prices might be anticipated.
IP TAM KWONG of IP CHiK CREDIT FONCIER D'EXTREME
BIN TONG,
薬糙飬堂菰陵光
IP YAU WING of IP SHU FAN
Toxo,
葉樹堂葉幼榮 SUNG HUEN PUI of SUNG HAU
TAK TONG,
宋厚德堂宋熘培 Partners of the
CHY LOONG CONFECTIONERY, CANTON and HONG KONG,
No. 1104, Canton Read, MoxGKOK, Hong Kong, 3rd September, 1930.
BARBER
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recession in
Options.-Double £o, Single £3. Cash.19.2.6 (opening), £48.3.9 (highest), £47.3.8 (lowest), £47.6.3 (closing).
Three months.-£48 (opening), £48 (highest), £47.3.9 (lowest), £47.6.3 (opening).
Government Assistance.
It is not a pleasant reflection that one has to ask Government tö assist one in carrying on one's business, but it looks as though whether it is to safeguard a great industry, or for the purpose of protecting. its own, revenue, that Governments may have to inter- vene. Supplies in sight amount Turnover for the week 3,300 tons. to six months' world consumption. JUNE JULY Exen if consumption, within a AMERICAN STATISTICS. Toxa. TCNS. reasonable time, proceeds at a Refined production 125,000 123,000 pace that does not seem possible Exports... 45,000 42,500 under existing conditions, the li- Domestic deliveries 72,000 73,500 quidation of such a stock, and con- Refined stocks 317,000 322,000 sumption of current production, Blister stocks
257,000 249,000 must take long time.
"Lead,
It is correctly pointed out that
Under present conditions the Java sugar industry has been ob- liged to dismiss much labour. make reductions in wages and effect other economies. Since the effected economy by a policy of cen- 1920 alamp pany companies have tralisation and are thus better able to meet the present situation." Whether special provisions will be necessary if the slump continues cannot yet be predicted.
The report emphasises the great reduction in revenues suffered ou account of the present state of the industry.
The membership of the syndicate comprises 178 factorica. Wages paid in 1929 amounted to 102,000,000
it is clear to those familiar with guilders and the industry, contri- all the ramifications of the indus-buted 40,000,000 guilders to the try in the producing countries that State in taxes. responsibility for saving the indus- try from far-reaching consequences
Lead has ruled easier, the price showing a small decline of 3/0d. as compared with our last report. The market on Wednesday declined to £18.1.3 for all positions, yesterday's slight recovery being attributed to reports that a substantial business had been placed for Russian brought about by the large outputs MALACCA RUBBER DEALERS
count.
15/-
has passed beyond the effective aid PETITION TO GOVERNOR. ther low price this week has been and contol of producers. The fur,
from estates for July, and the pro- table August shipments, rather than any specially heavy offerings on the market here,
Apart from this, general demand continues dull, and the comparative stability of the market evidently does not result from any active demand on the part of con- sumers, but is more particularly
Survival of the Fittest. derived from the support which from time to time is afforded.
Existing conditions have already Options-Double £1.10, Single forced a few estates to cease tap- ping altogether, and lack of finan Aug. 18.4.3 (opening), £18.6.3 cial resources may cause additions (highest), £18.1.3 (lowest), £18.3.9 to the list in the near future. (closing).
certain section holds the opinion Sept.-18.6.3 (opening), £18.6.3 that the end must be brought about (highest), £19.1.3 (lowest), £18.3.9 by the survival of the fittest. What (closing).
is termed the "free play of econo- Oct-218.6.3. (opening), £18.6.3mic forces" is to prevail and the highest), £18.1.3 (lowest), £18.3.9 weakest are to go to the wall or (closing).
be taken over by stronger bands. Nov-18.6.3 (opening), £18.6.3 As has been often pointed out, the (highest), £19.1.3 (lowest), £18,2.6 trees will doubtless survive, though (closing)
present owner, may have been eli Turnover for the week 2,750 tons.minated.
Spelter.
That is an exceedingly unsatis factory way of solving the pro- blem, and one that should be avert ed. even if a few are caused dis appointment. We still hold the view that the method of approach should be from the consumption end, and not any method of restric tion which must be exceedingly difficult to enforce.
AND OWNERS..
Mr. Tech Tiang, Chye, J.-P., Malacca, is to forward to the Gov ernor a petition signed by rubber dealers and owners asking:-
Exemption from payment of rub- ber assessment, until there is an im Frovement in the condition of the rubber industry.
Reduction of three-quarters of the quit rent payable on all rubber estates.
Exemption from payment, to the Agricultural Medical Board
Malacca
EXCHANGE RATES.
(BRITISH WIRELESS SERVICE.]
Paris New York Brussele Geneva Amsterdam
Milan "Berlin
Stockholm Copenhagen Osio
RUGBY," Sept. 7.
123.778 4.801
34.838
25.05
12.074
82.823
20.416
18.095
18 18
18.17
Vienna
34:415
Prague
103
Helsingfors
193)
Madrid
41.93
Lisbon Athens
108.25
376
Bucharest...
914
13/16
-30.0/16
40% 117
1/3 1/16 2/0 13/32
Bio... Buenos Aires | Bombay Montevedio Shanghai Hong Kong Yokohama
Spelter has ruled casier, the price showing a decline of 3/ed. for August and 5/- for November as compared with our last report. Augait has been offered rather sparingly, business for the most part catering in forward delivery, aad in consequence the tendency has been for the contango to further. Economic Balance Wanted. contract Slightly more activity has been reported from consuming In a letter to the Press Mr. M. centres, but tha, business resulting Sidney Parry says the real remedy has been insufficient to offer any, de is to adopt a flexible system to ad- finite stimulus to the market and just as far as possible supply to prices have declined on some selling demand, for the present position and liquidation, in face of which is very largely due to the present buyers have shown some reserve, incapacity of the world to con- Reports from the Continent would | sume. - The decline in purchasing scem to indicate a slightly easier power in the United States se tendency there, with rather more count for nearly 12,000 tons, the disposition to meet the demand, but rest of the world having also de it cannot be said that sellers have creased its purchases by 18,000 tona. been at all pressing, and stocks for Great Britain, Belgium, and Rus the most part are reported to be sia alone show slight increases, in firm bands. The market in The problem can only be solved by America remains quietly stondy: the aid of the two Governments demand on the part of consumers chiefly concerned. Nearly 50 per is none too good but at the same, cent, of the acreage under rubber time sellers are indisposed to press is owned by Asiatics and natives. organisation can solve the problem. sales at current prices, and stocks It is clearly the duty of these two are strongly controlled,
Governments to combine for the Most of us have our eyes fixed on Options-Double 21.16, Single purposes of protecting the natives immediate profits rather than on 17/6d
under their control. To emphasise the future welfare of the industry. Aug-216.2.6 (opening), £16.2.6 the fact that the advocates of re- An America Co.'s Losa.. (highest), £15.16.3 (lowest), £15.17.6 strictive legislation aim at estab (closing).
Tahing an economic balance be- United States Bubber Co. reports. Sept £167.6 (opening), £167.6|zwar apply and demand, wight for the first six-monthe of the year (highest), £ls_(lowest), £10 (clos | it not be preferable to establish net loss 82,797,000 against profit,
"Life"F#$15 of experta not on a prize | 9568,000 or the first bath of 1000+ Oct-16.10 (opening), £16.10 basis but on a stock basis. the Net sales were 875,206,000, against thighest), £16.2.6 (lowest), £16,2.8 normal consumption in X per year 8122,792,000. The company buys its (closing).
and as soon as the world stocks crude rubber through the General oxceed thres or four months nor Bubber Co. which controls rubber mai supply then restrictive Jazis, plantations in Sumatra covering Intion would come into fores 1 Only over 100,000 acres and in the Malay (Continued at foot of next column) { Peninsula of some 30,000 acres
Nov.216,126 (opening), 216.12.6 (highest), 216.5 (lowest),; 218.6,3 (closing),
Turnover for the week 3,000 tons.
Silver, spot & forward: 16 9/16
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