12
ASSETS
£13,000,000
BY APPOINTMENT
QLAIMS PAID
̈£40,000,00... .
GENERAL
ACCIDENT, FIRE & LIFE ASSURANCE CORPN., LTD.
All Classes of
INSURANCE
WORLD WIDE"
ORGANISATION
AGENTS
JAMES H. BACKHOUSE
1A, CHATER ROAD. TEL 21733.
SHIPBUILDERS,
SHIP REPAIRERS,
BOILER MAKERS,
FORGE MASTERS,
OXY-ACETYLENE AND
ELECTRIC WELDERS,
MECHANICAL AND
ELECTRICAL
ENGINEERS.
COMPANY
LIMITED.
-DRY DOCK-
Length 787 Fest. Length on Blocks 750 Feat.
THE TAIKOO DOCKYARD & ENGINEERING
OF HONG KONG,
SALVAGE TUG "TaiKOO'
WIRELESS CALL V.P.G.N. 600 METERS
Depth on Centre of SII (H.W.0.S.T.) 34. ft. 6 ins.
-THREE SLIPWAYS..........
Capable of Handling Ships Up to 4,00) Tena Displacement
Electric Crane at Sea Wall, Capable of Lifting 100 Tons at 70 Feet Radius.
BUTTERFIELD & SWIRE, Agents,
HONG KONG, CHINA & JAPAN,
TEL ADDRESS: "TAIKOODOCK, Howa Kona"
TELEPHONE:
0211
CALL FLAG: "C" Over "Ass. PENNANT*
Hong Kong Weekly
Press
Hong Kong and Shanghai Bank
Another Piracy
The Struggle on Jehol Border
Last Two days of Annual Race Meeting.
and
Other Interesting Features.
THE PAPER WITH THE YELLOW COVER
Price:-30 Cents.
Annual Subscription: Hong Kong, $18; Post Free to any address, $18; Quarterly Subscription, 84.50. Orders should be sent to the
HONG KONG DAILY PRESS, SATURDAY, MARCH 4, 1933.
Money
and Markets
LONDON STOCK EXCHANGE
[BRITISH WIRELESS JERVICE.].
DAILY SHARE QUOTATIONS
HONG KONG STOCK EXCHANGE
SHAREBRO
ASSOCIATION"
Врует
Bollars also Homi
HONG KONG STOCK ASIA LANDS, LTD.
MARKET.
OFFICIAL WEEKLY
REPORT
U.S. Investment News
SAFEWAY STORES
The recent declaration of a 75 Some wide fluctuations were wit-cent quarterly dividend payable essed in the course of the past January 1, 1933, to holders of Safe- week, with the general trend being way Stores common placed these lower, outstandingly so some of the shares on a 83 annual basis, against investment issues, such as Lands, a 33 rate formerly in effect. Electrics, Dairy Farms, which are all substantially lower.
In the minor section, China Lights, after sales as low as 88.03, have moved up to 29.60 bid, whilst Hotels and Cements also close bet- ter than the worst.
At the close, there are indications of a better feeling.all round.
BUSINESS DONE DURING
THE WEEK. Hong Kong Banks, $1,072, $1,600
ax. div.
·
China Underwriters, 82.35. Douglases, $33.
Benguet Consolidated, 818, Providents (Old), 8410, $4. Providents (New), $11. Hotels (Old), 83, 87.95, $7.80, $7.70, 87.55, 871, 97.00, 977, $7.00.
Hotel (New), 87. Lands, $74), $74, 971, $70, Realties, $7.30, 87.15, 87.10. Nenities, $7 ex. div. Tramways, $20.20. Star Ferries, 8901 China Lights (Old), 8111, 89.10, $8.80, 88.63, 38.80, 98.85, 88.00.. Electrics, $741, $74, 873), 873,
$72).
Telophones (New), $251, 825.00. Cements (Combined), $7.60, $71,
$7.40, 87.30, 88.00, 871; 871. Constructions (New), 81, 80.90. Ewo Cottons, Tis. 13.20, Tis. 13,
Ts, 12.50.
B. Ind. G. Bonds, 651%.
CHANGES (3.13 P.M.) CLOSING
QUOTATIONS.
Buyers.
Douglases, $33. Providents (Old), 8. Hotels (Old), 87.40. Lands, $71.
Ewo Coltons, Tls. 13.90. Tramways, $20,40. China Lights (Old), 89.65. Telephones (New), $281. Cumente (Combined), $7,00
Sellers. Ewo Cottons. Tls, 13.40.
Hales,
Douglases, $0. Providenta (Old), 84. Providents (New), 811. Hotels (Old), 87.60. Hotels (New), 87. Lands, $70.
Cements (Combined), $71.
It will be recalled that Safeway showed earnings of 82.70 per share in the first six months of 1932, against $2.61 in the corresponding 1931 period. However, it is conceiv able that these earnings did not take into account inventory adjust- ments which may well prove neces- sary at the year-end and somewhat reduce results for the last half.
SEARS, ROEBUCK & CO. AND MONTGOMERY WARD & CO.
As an experiment Sears, Roebuck and Co. and Montgomery Ward and Co. shortly will discontinue pay- ment of all postage on orders re- ceived by their Minneapolis and St Paul housea. The territory served by these houses was selected for the experiment, as its boundaries hap- pened to be exactly the same, in the case of both companies. At pre sent, Sears and Ward pay postage in all territories on orders total ling 32 or more. Continuance of the experiment will depend on whether mail order sales in the Twin City territory hold up well enough to furnish additional profit on this business.
The crux of the situation which led to the experiment lay in the fact that postage is computed by weight, and not by value, and there has been a great declins in both companies' sale prices since the pay. ment of postage by them was first inaugurated in 1929, while postage rates have been slightly increased since then. In consequence, the burn of the postage cost on the same physical volume of goods as before has been considerably increas ed in proportion to dollar sales re- ceipts.
Sears' mail order sales last year probably ran well over $100,000,000 Lout of an estimated total sales of about - $250,000,000.- Ward's mail order, antes still, form a substantial proportion of its total sales, which probably will run a little under $160,000,000 for 1932...
UNION CARBIDE & CARBON
CORPORATION Earnings of this company in 1922 are likely to be moderately below
81 per share or under the annual dividend requirements of $1.20. Such earnings would compare with $2 per share in 1031 and $3.12 in 1930. In the first nine months of (Continued on next Column)
NEW YORK STOCK EXCHANGE ASIA LANDS, LTD., QUOTATIONS -
(INCORPORATED IN HONG KONG.)
Tel. 28380-Gloucester Building, Room 306.
[REUTER'S AMERICAN BERVICE}
New York: March 2 Dow Jones Averages:
30 Industrials
20 Rails
20 Utilities
40 Bonds
High- 1932.
86,78
41.30
36.11 83,26
Low: Mar. 1Mar 2 41.29 62.64 52.18
13.23 24.57
Change
.38 down 23.94 .03 down 16.53 21.83 21.30 .53 down 65.78 74.72 74.02 ... -70 down
Asia Landa, Limited, have received the following report from their New York correspondents, E. A. Pierce & Co. There is but one factor with which the market is currently concerned and that is the banking situation. We think the market bas acted extremely well under the circumstances and believe that signs of completion of liquidation in the bond market would result in a brisk rally,”
Business Done: 1,000,000 shares.
1933
Нюп
Drv. Low PER. SH
.02
314
3.00 Air Reduction'
..................
871
42
6.00 Allied Chemical & Dre nin
737
20
4.00 American Carl Martini
1374
-71
9.00 --American Tel; & Tel. kol
LAST SALE Mar. 1 Mar. 2 $497
$40 741 74
329 1977.
80
44
6:00 ́ ́American Tobacco "B"
932
...18
3
Anaconda Copper Mining
151
281
4.0 Aubura. ..............
344
34.
201
200 Boriten Company
101
Canadian Pacific
3.0
1.00 Chrysler Motors
game i
31+
4.00 Consolidated Gas of NT, ...
4.00 Drugs, Inc,
32
414 31
22
2.00 Du Pont de Nemours........
24 x 337
36
3,00 Eastman Kodak
53+
83
11, Ios House StRKET.
6 s. Electric Bond & Share
117
114
80.40. General Electric
12
198 2.00 General Foods
234
24
10
107
108
143
15
14
854 bid as bid
51 52
138
12:
of
HONG KONG DAILY PRESS, LTD.,
TELEPHONE: 30251,
UNEMPLOYED TEAM
DEFEATS ETON
(TARUUGH, BEUTER'S AGENCY:]
307
3
40%
20%
· 2.80 National" Biscuit
RUGBY, March At Slough, yesterday, the Eton College football eleven
team return match against Slough unemployed men, and were
eaten by six goals to one
37
10%
Joreny
19
0.40 Socony-Vacnum Cor
ST. JOHN AMBULANCE BRIGADE
DONATIONS ACKNOWLEDGED.
The Hon, Treasurer, St. John Ambulance Brigade begs to acknow- ledgo with grateful and appreciative thanks the receipt of the following donations to Brigada Funds for services rendered during the vac- cination campaign. Bouth China Morning Poet....$25.00
Queen's College
Dyer
In the first game, which was held the ton playing Belds, the
ine gunis: "Con
1.00 General Motors 1.00 Gillette Safety,
1.20 International Harvester
(Preferred) International Tel. & Tel. 4.00 Liggett & Myers "B"
3,00 Loew's Ins, mia
Montgomery Ward o
2.00 Pacific Gas &. Eleétrie
Pennsylvania Railway
Badio Corpa.
- Sears Roebuck
1.00 Standard Oil Co. of New
1,20 Union Carbide & Carbon
6.00 Union Pacific
United States Steel;
Westinghonse E. & M
112
Banks
H.K. Banks.
Do (London) ...
Dayara Baller
Baive Nomina?
FRIDAY, MARCH 8.
Fany, March 9.
Paris Now York
86-15/16
3.431
$1,640
Montreal
4.11)
2:11
Brussels
24.40
Geneva
17.50
224
Amsterdam
8.48
Milan Berlin
07
· Stockholm
Copenhagon Delo Vienna, Prague
14 13/32 18.871 297/16
30 nom.
1151
Helsingfors
2234
$360
Madrid
41 1/16
110
8077
875
Lishon Athena Bucharest Belgrade
Rio
Buenos Aires Montevideo Bombay Shanghai Hong Kong
Yokohama South Africa
Silver (Spot)....... Silver (Forward) War Loan 312
250
Bnom.
414 O.R.
£91 $108
"0"
£138 Chartered Banks...
Mercantile Bks. "A":{
Do. Bank of East Asia... N. 0.8. Banks 371 Am. O. Fin. Corp: T.4 88, China Fin. Corp. Urd. T. 4,60
Do. Insurances
F28
Prof.
$1,375 Canton Insurances.. $2.35
Underwriters
1890
Union Insurances ... China Firos *********
$1,350 H.K. Fires............. International Anson.
Shipping
TA
-520 $20
43/1
BR01
Douglases ..... Steamboats qua Indos (prof.) štirų,
Do. (def.)
Shelle Waterboats
Mining
$181 | Benguet f
304 nom.
1/01
1/8 3/16
1/31 1/2
007/1003
90/-
per £100. sterling
T.4
17: 17 1/10, 99 1/18
SILVER MINES IN THE SLUMP
POSITION IN MEXICO.
On $7.40
em.
em-
Methods adopted by mining com- panics for minimising lossce during period when mining and milling are unremunerative are indicated in the new report of the San Francisco Minen of Mexico, October 7, 1931, 'a contract Wilg signed with "the company's ployees for suspending miring and milling, which was done at the end of December. The company, how-
important ever,- retained ployees at reduced salaries, and undertook a road-building pro- gramme which the company was able to effect cheaply, while pro- viding. employment for "needy who were " rationed workmen' with essential articles of food." The arrangement was ratified by the Mexico Labour Inspector, and the company expresses appreciation to employees; workmen, and Govern- ment oficials for their co-operative spirit.
.
1939 the company reported per share earnings of only 69 cents as compared with $1.34 in the similar period of 1931.
Due to the lower prices last year and sharply reduced demand, the company's subsidiaries which pro- duce chromium, manganese, silicon, tungsten and vanadium ferror-al- loys have suffered, and the net re- sult of manufacturing these pro- ducts for 1932 may show only a moderate profit and perhaps a loss.
In relation to earnings last year the common stock was not greatly
However, the deflated.
various divisions of the company have ex- collent growth possibilities over a period of time. The company would bonefit particularly by a substan- tially higher rate of activity in the automotive and steel indus- tries and higher purchasing power in agricultural areas. The common stock is worthy of retention at pre- sent levels for longer term poast- bilities.
CORN PRODUCTS REFINING
COMPANY
The upturn in the business of the Company from the summer low developed promptly and received considerable acceleration from the rather rapid expansion of sales in certain consumer lines, of which perhaps the most important was the rayon industry. Rayon manufac turers are large users of corn sugar, and the boom in rayon business in the early fall was a decided stimu- lant to Corn Products.
As matters now stand, the com- pany expects to earn for the final quarter, approximately 82,350,000, equivalent after preferred dividends i to the 78-cent dividend requirement on the common stock. In the pre- vious quarter balance reported was 82,311,000, equal to 74 cents a share. On the basis of $2.09 a share for the first nine months the showing for the full year 1932 will be in the hieghbourhood of 82.85 a share, as compared with 83.54 a share in 1931
AMERICAN ORIENTAL FINANCE CORPORATION
A COMPLETE.
SERVICE
A complete brokerage service
for New York Stocks is vailable at our local gents
Asia Lands Limited
Gloucester Building.
Daily Quotations sent-gratis-
upon request.
A
$142
Suu!
14.20 Venezuela Gold Flds. Kailanswers
Langkats (single)........ T210). Exploratiuzu.com... T2.30 Shanghai Loans ....
Raabs
Tronoh Minos
23 ata. Benguet Explorations
Docks, WharTOR, Godowna, sto. H.K. & K. Wharves, Providents (old) .... Do. (new)... II.K. & W. Locks S. China Motors A
Do.
$1.75
1120
10
38
T.99
T.A
"B"
Shanghai Docks...
New Engineerinys
T.220 Hongkow ......................
Lands, Hotels, and
Bulidings
$1,666
Hagu H
Adune mui
*****
£01 $108
IM
$1,380
$2.30
$500
1025 $1,343
$31
$18
13
+
***
H.K. Hotels (old)+7.50 Do, (new)
H.K. Lands
T.917 Shanghai Lands
+
Metropolitan Lands..
*******!!
36.85 H.K. Kealties....$6.90 ex div.
13/6.
$144
14.10
$1.70
$8
38
$13,90
$7.20
571
***
T.10
TIL.40| China Do
1991 Do.
Debentures
314.10 Humphreys
M324
Do,
Chinese Estates......
Ootton Mille
Ewos
T13.10
T.67
$115
M$140) Ania Realtion “A”.
$85
713.10
*
T.69
S'hai Cottonarman
T.111 Zoong Sings ......... $105 Wing On Textiles(8.)
· Pabllo Utilition Tramwayed
$16.20 Poak Trams (old)... (new)...
Star Ferries*********
$20.20
140
$8
Do
ja
5902
3894
334 $331
Taumati Ferries(old)
Do.
$33
{now,
$9.80
271
172)
$19.
cum. rights...
Uhina Lighta (old)....
Do. ((new)...] Do, Rta....
H.K. Electrica .................
$24.30 Macao do.
Sandakan lighte
$30 Telephones (old) ................
Do.
(now)..
China Busca ..........
Tractions 2016kon Do. (pref.)...
Industriais
$27|| Malabon Sugars ... T.14 Caldbeck, 1(ord) T.10 Macgregors prof.) $6 Canton Less
V
Cement (comb)...| 17.10
Da (old)...
$263
25/00
T.10
2/
12/.
*
37.20
€8.90/171
Do. (now)...
$11 $7
Ropas
Ch: Agricultures .......
MELLOGELAXINGUN
$975
$1
$4,80
.9 cta 15:40
Dairy Farmun menzi Der A Wings... Sizi Amusements i.... $19
13.40 Ch. Etainments...... $112. Constructions, (old))
Do..
(new)] Lane Crawfords................. Mackintoshsus
Nanyang Tobacco... Sinceres ***
#251
16,90;
ex div. $27
$4,30
1.90 ot.
套
www
$15
1315+ ·
$12
Watsons (old)
$127
$11,40)
1o. now)
-$121.
38.30
Wm. Powells.....
$3.90
310
M. Greyhounds ..............
$82
B. C. Enterprises ...
.1,5
United Theatres.i...
B. Int. G. Bonds...: 647/
1%,
H.K. Gort, Loans.....] $104.
•
19:
Wallace Harper
36:
China Sports Ltd....
$220
H.K. Wing Oo
S'hai Do
~60%
LOCAL, AND REGULAR OUTWARD MAILS,
€285 $188
i
WEER DAYS.
SUNDAYS & HOLIDAYS
FOR
Στους
FROM BUKO TAX G.P.O.
BRANCH F.O.
· FROM":
G.R.O.
Canton
Samsul and Wachow (Hg)
direct staser)
1.00 pe
(7,25 mm,&] 5 7,00 Km)) 1, 8.00 pan. £7.00 pm:
4:00 pati
6.7.15 16.00 pum.
7,00 %
7.00p
9.00
Afmcno & Telush
1,16 p.m..
1,80 p.m.
Kongmoon (except Saturdays) Kankong (except Saturdays): Bataban and Wuchow (Bg) 7.15 m
Train}
6.00 pm,
6.00 p.m.
5.00
©€:00 p.mi.
6.00 pm,
7.15
11:00 am
9.00
8.168.90 2.18 p
$1.80
Bandaya Sundays | 8,15 ́am2,24|| || 8.30 atte
only only
1,00p.m. (9.00 & 8,00p.m.-
9,00 km, &
8.00p.m. £1.00 pm. d 1.5.00
11:00
& 8,007
Aberdeen Branley
8,00
3.80.1.
11.00 min. 8.80 my
Pin
Bhatwakokaad
8.00 pm.
4.80 pan
10.30 sní
Taiping]