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PHOTO OF NERVE-CELLS SEEN THROUGH MICROSCOFF |
Stro
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The True Tonic-Food
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A
GENUINE
CLEARANCE SALE
of our entire stock of
Gramophones, Midgets, Radio's and Radio- Combinations. Real Bargains! Come early.
The Brunswick House
Arcade
Gloucester Building,
THE WORLD'S GAZE
HONG KONG DAILY PRESS, MONDAY, OCTOBER 17, 1932.
MONEY AND MARKETS
HONG KONG TRĄDE
SMALL ORDERS IN PIECE-GOODS
The following reports are publish.
NEW YORK STOCK EXCHANGE
A.O.F.C. QUOTATIONS
New York October 15,
ed in the current issue of the fort Dow Jones Averages:- nigirtly bulletin issued by the Hong Kong General Chamber of Com-
RIVER JE
Cotton Piece Goods.
Further business in reported in certain standard lines of Spring Fancies but the orders are not large, Some important lots of Black Cambrics have been sold but the quantities are below normal, owing to the heavy carry-over. There has been some movement in Grey and White Shirtings, with rather more enquiry for "Spot" cargo. The threat of a spinners' strike in Lancashire is likely to cause some uncertainty regarding shipments, unless á stoppage averted..
The new standard form of Tex- tiles contract was unanimously ap- proved and adopted by Hong Kong importers, at a meeting held at the Chamber of Commerce on October
3,
The intext Cotton prices to hand are those of the 14th inst. :-Mid. American Spot," 5.43d.; Egyp tian Sakel. F.G.F.- " Spot," 7.97d.
Woollens,
Clearances of newly arrived wool- len goods are improving but it is still too early to form an opinion of the market, although indications both in Hong Kong and Canton are not unfavourable.
The market for Wool Yarns is not satisfaatory and prices are unduly depressed owing to large stocks. However, replacing costs are con- siderably ahové local values and prices should improve when there is more demand. Trade in Rayon Yarn is handicapped by the new import tax Canton, which amounts to nearly 25 per cent. of
the value.
at
EXCHANGE.
Oct. Oct.
14. 15. Change. 30 Industrials 63,84 84.22 .38 up 20 Rails 27,71 27.93 24 up 20 Utilities ... 27.68 27:00 .28 up
Mesara, E. A. Pierce and Co. Report.
Saturday's session, brought out ne particular change, with the market tane steady. Restricted fluctuations are expected in the immediate- future, but trading sentiment is a little more friendly towards the buying side than was the case a werk ago.
Business done: 609,000 shares. Dividend
Last Sale.
* P'er
Oct.
Oct.
Share.
14.
15.
83.00 Air Reduction... #55)
0,00 Allied Chemical-
#561
and Dye
72) 4.00 American Can.. 514 9.00 American Tele- graph and Tele- phone.....
73
50%
106
105)
3.00 American To-
bacra "B" 73 Anaconda Cop. per Mining
*2}
10%
10
431
274
B
4.00 Auburn........... 44) 2.00 Borden Co... 274
Canadian
Pacific 14% 1.00 Chrysler Motora 141⁄2 4.00 Consolidated Gas of New York
4.00 Drugs, Inc.
2.00 Du Pont de
Nemours
HONG KONG STOCK MARKET.
'SATURDAY'S OFFICIAL
QUOTATIONS
The morning session opened with slight fall in the speculative sec tion, which did not augur well for the rest of the day. However, the investment section is holding its own very well.
Sales.
Union Insurances $504. Hong Kong Renities 80.90. Cements (Combined) $11.00/14.30. Dairy Farms $28,
Buyers.
Hong Kong Banks $1,035. Union Insurances 8500. Underwriters $2.00. International Assec. Tis 4.15. Waterboats $20.
Venz. Goldfields $3.40.
China Providents (Old) 84.85.
Hong Kong Lands $76.
Ewo Cottone Tis: 14:40. Shanghai Cottons Tls. 00 Zoong Sings Tis, 11. Star Ferries. 801.
J
Yaumati Ferries (Old) $35. Yaumati Ferries (New) $31). Cements (Combined) $14.30. Dairy Farms 8271. Lane, Crawfords $5.10. Sinceros $15.50. Wing On (Hong Kong) $235.
Sellers,
Hong Kong Hotels (Old) $12 20 China Lights (New) $17.40. Wallace Harpers $11.
MESORS. G. A. HARROMAN'S REPORT
QUIETER TENDENCY LAST WEEK.
RAID ON U.S. GOLD RUBBER DIRECTORS' FEES
ANOTHER ATTACK STATED TO BE IMMINENT
!
PREPARATIONS BY
TREASURY
A REDUCTION IN SIGHTI
From correspondence to the Times there would seem to be a growing impression among shareholders in rubber plantation companies that as a whole rubber company directors Washington, Oct. 8.-The United are not submitting to as great a States Treasury is prepared to meet reduction in their fees as might be another concerted paid on the nas | expected having regard to the un- timal gold supplies which is re-exampled depression which now ported to be in preparation abroad, prevails in the industry. In many officials of that department said to instances, however, boards of direc- day in discussing the weakness of tors have already appreciably re the American dollar in relation to duced their feea. The plight of the the frane.
shareholders, who are suffering In the absence of · Sceretary heavy reductions in their incomes. Ogden Mills who is on the Pacific | through the inability of rubber- coast, carapaigning for President plasting companies to pay divi. Herbert Hoover, junior oflleials | dends, and also the hardship which admitted reports had reached them it has been necessary to inflict on that another raid was under way. the staffs in the Enst alike give The American gold position is grounds for expectations of sacrifice impregnalile, they declared and oven the most converted forṇigu raid would be unavailing.
"The
on the part of directors.
There seenis no likelihood that rubber will ever return to prices. technical conditions of which would enable plantation com banks in the United States showpanies, even allowing for reduced) conclusively that the dow of gold working costs, to earn profits and dividends comparable with thorn of the pioneer years. Therefore, it would appear certain that the in- dustry will undergo a gradual pro-
of rationalization, which,.
ather things, will itself bring about a considerable saving in directors' fees.
is now inward rather than out [ward," one officip! said. "We believe the trend will continue in- definitely."
among
While in some quarters there is a belief that President Hoover's des Moines speech, revealing that the United States was near the point of forced abandonment of the gold standard last summer, had Owing to the large number of encouraged foreign financiers to small units in the industry the sum attempt another attack, offieinls did not mention that phase of the situn required for directors' fees is in the aggregate too large, and by volun- All expressed complete confidencetary reductions on the part of direc in the ability of the United States
tors and a decrease in the number to withstand a new gold raid.
of directorates as a result of fusions and amalgamations the total sum required for directors fees will probably be materially reduced in the course of the next few years.
tion.
and the
25,
Hoover Revelations. Simultaneously with the treasury discussion of the gold situation Senator Carter Glass, former Score- A rather quieter tendency· pre-
tary of the Treasury Democratic Party's leading finan vailed during the week under re-
cial expert sharply protested Presi 30% view with only a few minor fluctua dent Hoover's revelations in Des tions in rates to record. Cements Moines. He described them
* astonishing." cased to 814.30 at the close after Senator Glasy said that absolute- business had been done at 814 80ly nothing was done by the ad- to $14,80. Hotels were the steady ministration to ward off any such disaster as the President anid threa feature of the market with a fair tened the country at that time. business done around $12.20. Reni- Nor did any Administration ties wore caquired for at 90.85, and spokesman, at any time last spring or summer, express the slightest 221 Providents (Old) at $4.00. Invent-
concern for the gold standard. All ment stocks were steady throughout the Administration statements were with Trams in demand at $22.00 and designed to calm the fears of the
public and of Congress, he said. Lands at 8703. Electrics were done The Senator recalled that while at $77.00. Although Exchange re-
the President was disturbed about mained much the same sterling raids on the dollar, bis proposed remedies were not of a kind that dividend stocks were better with would assist in maintaining the Banks bid up at 81,625.00, and gold standard. He referred to the of President's reliúf programme Linions, to 9505.00, November busi-giving the Reconstruction Finance ness will be in full swing next week Corporation a credit extension of when trading conditions will most 83,000,000 to be loaned to states for their individual relief measures. probably improve on a free market,
Excise Tax.
55% 35
342
362
3.00 Eastinan Kodak 52 6%. Electric Bond &
1.00
1.20
Share 4.40 General Electric 10% 2,00 General Foads." 20g*. 1.00 General Motors 14
Gillette Safety 16) International
95
20
101
30
141 * 101
Harvester 228 International
·
Tel. & Tel. 10
10A
4.00 Liggett & Myera.
τ
“, *
033
03
3.00 Loew's Inc.
203
Montgomery
Ward 12) 2.80 National Biscuit 303 2.00 Pacific Gas &
Electric
12
891
A
281
Pennsylvania
Railway 15 Radio Corpora- tion
73
151
78
in the meantime the tone is some. what quiet.
$
months
1/4
****** 1/43
Sears Roebuck. 107 1.00 Standard Oil Cɔ.
151
Banks.-Hong Kong Banks were
of New Jersey... 30 0.80 Socóny-Vacuum
Corp. ............. 0} 1.20 Union Carbide
30
01
& Carbon 6.00 Tinion Pacific...
2251
20
03
65.
United States
Stee!
38
371
Westinghouse E.
& M.
28
287
Ex Dividend.
..}751
98
CLOSING QUOTATIONS.
་
On London:-
October. 16, 1999.
Telegraphic Transfer... 1/3 -Bank-Bills-on-demand 1/8)
Bank Billa,& months”,
Light Credits,
sight OX PARIS:m
Bank Bille, on demand bio Credita, months' sight 620 ON NEW YORK:-
Bank Bills, on demand 22) Oredite, 60 days' sight, 13)
ON BOMBAY :-
Telegraphic Transfer Bank, on demand ...
UN CALCUTTA : -***
Telegraphic Transfer
Bank, on demand
TURNS POLIFICALLY, ECONOMICALLY, ARTISTICALLY TOWARD ON SHANGHAI:
JAPAN
Where Oriental charms are jealenaly preserved intact amidet
the most advanced Oriental Girilisation,
THE JAPAN HOTEL ASSOCIATION
(Affiliated with the FAIRMONT HOTEL Co. of the Pacife Coast and Ebe UNITRI HOTED"" "UGM)=8?TMof America.)".
MEMBER HOTELS
ATAKI:-
Hotel rates for Bingle rooms (without bath), including meals,
Y 12.00 up in cities and some popular resorta.
Arew Hori
MAMRI Hozz
BEPPUN
KAMENOI HOTEL
10.00 up in country districte.
IN JAPAN
KOSHIEN
KOSHISH HOTEL
KYOTO
KYOTO HOTEL
MILANO HOTEL
NAGASAKI :----- *JAPAN Högak INAGOTA
NAGOYA HOTEL NARA
NADA HOTEL HOTEL NIKK
HUZENJI (Nike) KT010 STATION LAXMIDE HOTAL CAMAKURA
KADITY HOTEL KARUIZA WA
MANYAI HOTEL MIKARA HOTEL
KOBE+
ORIENTAL HOTEL TOX HOTEL
HEIJO
MATSUBHIMA *PARK HOTEL MIYAJIMA.
MIYAJIMA HOTEL MIYANOSHITA
TOKYO
IMPERIAL HOTEL MAMPEL HOTEL · MARUNOUERI
HOTEL OMORI HOTEL TOXYD STATION
Hors
KANATA HOTEL
UNZEN OSAKA
KTVANU HOTAL DOBIL HOTEL
YUKSI HOTAL OSAKA HOTEL TAKABALUKA HOTEL YOKOHAMA:-- (Hakone): BHIMONOSEK); HOTEL NEW
GRAND BANTO BOTEL. IN TAIWAN (FORMOBA) me TAIHOKU:-Tarwax Rawat HOTEL
FUTTA HOTEL
IN CHOSEN-
HIO RAILWAY
EMTEL
KEIJO
Onda Horat.-
FUBAN
FUBAZE STATION
IN MANCHURIA – |CHANGCHUN --- HOTEN(Mukden
YAMATO HOTEL HOTEL DAIREN SHYNGISHU *****
YAMATO HOTEL BHINGLAND STATION HOSHIGAURA
Hozat YAMATO HOT
Open from April 1st until October Stat
84)
YAMATO HOTAL
BYOJUF (Part
“Arthur) :-*. YAMATO FOTxar
THE JAPAN HOTEL ASSOCIATION Care of TR177ió Buzaru, DarantKINT OF RAILWATU,” TOKYU
Bank, at sight
ON YOKOHAMA : ***
On demand
ON MANILA-On demand.... új ON SINGAPORE:--
On demand
ON BATAVIA-On demand. 561 Ox HasnonG:----
On demand res
ON SAIGON: On demand }08
ON BANGKO
On demand Sovannians, Bank's Buying
Bate
BAR SILVER, per a
1/48 17 11/10
AMERICAN ORIENTAL FINANCE
CORPORATION
A COMPLETE
SERVICE
A complete brokerage service for New York Stooks is available at our local- Agents:
Asia Lands Limited
Gloucester Building
Daily Quotations sont-gratis -upon request.
14
LONDON EXCHANGE
RATES
་་་
ORITION WIRELESS SERVICE]
Paris New York
Montreal. Bryssels
Rugby, October 15.
87)
3.441
3.75.
24.78
Geneva
17.821
Amsterdam
Milan
8.58) 672 14.481 10 18/32 300/32 10.00 29 nom. 7161
- Helsingfors
Madrid
Berlin Stockholm
Copenhagen Oslo Vienas Prague
Lisbon...
Athens
Bucharest
Rio ..... Buenos Aires...... Montevideo
Bombay
Bhanghai Hong Kong.
Yokohama
Silver (Spot)
232 .42 1/16
110
560
580
67/32
Nominal
30 nom. 1/06/32 1/08/16
This proposal was made by the President in a sudden and dramatic
At
BRITISH INDUSTRIES FAIR
i
RECORD APPLICATIONS FOR SPACE NEXT YEAR.
Record applications for space at the British Industries Fair next February are announced by the De partment of Overseas Trade.
The
Seven hundred and five exhibitors have applied for $70,674 sq. ft. at Olympic and the Court of Honour at the White City, where furniture is to be shown next year. figure is an increase of 80,000ft. compared with the corresponding period a year ago, and the area. applied for in both the funiture section and the leather goods section already exceeds the total areas oc- cupied by ench at the last Fair. In the textile section at the White City 127 exhibitiors have applied for 74,134 sq. ft. of space, and 90 per cent, of the available space at Castle Bromwich is now lot,
in demand at #1,825.00 after busi-appearance before Congress.
that time he proposed a general had been enacted into law," he ness done at $1,070.00. Bank of manufacturers' excise tax and a continued. "Our country's cur
number of economies.
East Asias continued in roquest at $108.00,
Insurances. -Uniona
changed China Under
bands at 305.00. writers were wanted at $2.95.
Shipping.-Union Waterboats.re- mained in demand at 8201, •
Docks, -Wharves and Godowns. Wharves were still wanted at 8145. Providents (Old) were trana- acted at $4.00 and there were fur- ther buyers at $4,85.
Hotels and Real Estate.-Hotels (Old) were the ́medium of a fairly large turnover at $12.20/30 and more abarcs could be placed at the former rate. Hong Kong Lands changed hands at 8701776), closing in demand at $76.00. Hong Kong Healties were dealt in at $9.00, fur- ther buyers prevailing.
Cotton la Evos were the medium of a fair turnover at The 14.40/70 closing slightly easier at Tis. 14
Public Utilities. Tramways were enquired for at $21.90 at which rate some shares changed hands. Star Ferries were in demand at 901) without attracting any sellers. Chins Lights (Old) after having been done at $17.80/18,00 were casier at the close at $17.00: Elec- trics were wanted at $78) sellers anking $77.00. Telephones (P.P.) could be obtained at $273.
Miscellaneous-Cements were put through in quantity at 914/14:80 Ropes remained quiet at $12.00 Dairy Farms could fetch buyers-nt (1/1999 8277 Lang, Crayfords were sought 1/47/16
for at: 281......
... 17 11/10
Silver (Forward)' ...... ; 17 1371a; War Loan assented:=-102-7/18
Forward Settlement Days,-25th October, 29th November and 20th December:
rency would have been greatly weakened and the banks would have been permitted to unload incligible assets and dump them into the lap of the Federal Reserve system."
Some of these remedios, if they were designed to preserve the gold standard would have had just the opposite effect, Senator Glass said. Many of them were utterly unsound and desperate devices which would have driven the coun- try off the gold standard if they
(Continued on next column.) tion.
The Senator was of the opinion that the Administration, as well as the foreign banking interests, was responsible for the weak gold posi-
Hong Kong Weekly Press
The Budget Debate
Chingand the Lytton Report Hong Kong Scouts and Guides The Motor Cycle Reliability Trial Local Sport:
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and
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