DAILY SHARE QUOTATIONS
HONG KONG STOCK EXCHANGE,
SHAREBROKERS ASSOCIATION.
Buyers Sellers
Bale Nominal
WEDNESDAY, MARCH 22,
Bayern
Bolless
Bali Homies
Banks
$1,695 /1,710
£119
H.K. Banks $1,690)
Do. (London)...)
£14
Chartered Banks
£13)
£8th
Mercantile B. “A”
£24+
Do.
"0"
£9
$100
Bank of East Asia...
$1011
N. C. & S. Barke
$28
Am. O. Fin. Corp: M
HONG KONG DAILY PRESS, THURSDAY, MARCH 23, 1933.
MONEY AND MARKETS
HONG KONG STOCK
MARKET.
YESTERDAY'S OFFICIAL
REPORT
WOTC
An noted in yesterday's Sum- mary, investment securities again a firm market this morning, Banks and Unions both forging ahead to the extent of fifteen and ten points, respectively.
The minor issues were steady and $1,340 enquired for at current rates.
**
A
1.92
China Lights (Old), $12.
Hong Kong Electrics, 872. Macao Electrics, 824).
Telephones (New), 827.40.
Cements (Combined), $6.00.
B. Ind G Bonds, 643 per cent. Govt. Loans, 5 per cent. Prem.
$8
28
T.6
1
NEW YORK STOCK EXCHANGE ASIA LANDS, LTD.,. QUOTATIONS
(INCORPORATED IN HONG KONG
Tel. 28350-Gloucester Building, Room 306.
(REUTER'S AMERICAN SERVICE.]
New York: March 21.
Change
* 67.58 2.32 down 27.65 1.47 down
21.80 1.21 down 75.97 .51 down
Asia Lands, Limited, have received the following report from their Now York correspondents, E. A. Pierce & Co. Selling has made enough progress this after noon to warrant the conclusion that buying should be deferred until the extent of re-action can be better determined. Business: Done: 1,910,000 shares.
.801
18
1514
43
31
86059-298-8686929*** *882968266 18566
20 2.00 Borden Company
Canadian Pacific
7 27 28 < 100000
ולים
1.485 China Fin. Corp. Ord.
T. 1,50
Do.
Insurances
Pref.
$1,350
Canton Insurances...
32.35
Underwriters......
$1,350
$2.40
Union Insurances ...
3620
$1,330 H.K. Fires .................................
T
China Fires
$518
3518
$825
International Assco..
Dow Jones Averages: High-1932
Low: Mar. 20
Mar. 21
Shipping
30 Industrials
Sales.
88.78
41.92 59.90
$35
Douglases
20 Rails
41.30
$34
Steamboats
5.8
Indos (pref.)
$22
$20
Do. (def.) TSUKIE
65/-
Hong Kong Banks, $1,895/1,710, Providents (Old), 84.
20 Utilities
36.11
40 Bonds
83.26
15.23.29.19 16.63 29.78 65.78 78.48
Hotels, 88.70.
13/0
Shelle
$201
Waterboats
45%.
China Lights (Old), 812.20.
$21
་
Mining
$181
Benguets................
Bajora.
1420 Venezuela Gold Flds. $2,00
$181
Canton Insurances, 31,350,
$1/a Kailans
1.4 Langkats (single).......
25/-
Union Insurances, $520.
1932
T210 Explorations........
H.K. Steamboats, #22.
HIGH
Low
Drv. 8 PER. SH.
14
$128
L4
111.40
8161
$10
$8
Do.
H.K. Landa
7.291
$58
本
18
TP1
Do,
21 ota.
$6.70
8721
$21
$79. 1241
$27.40
$10
#731
FA+
36 70
$12.2
T230 Shanghai Loans
Haubs
Tronoh Mines Benguet Explorations
Docks, WharvSR,
Godówas, elo.
H.K. & K. Wharvos. 197 Providente (old) ...|
Do. (new)
11.K. & W. Doción
5. Chias Motors' A
T.96 Shanghai Dooke ... T5,70 New Engineerings T.99 Hongkewa ..................
Ganda, Hotels, and Huildings H.K. Hotel (old)
Do.
T.10
$7.68
T.104 Chii Do
T.99 Da. Debentures
314
Humphreys
|M$140] 'Asia Roalties "A"
M$24
T:12
De
"T"
Chinese Estates......
Cotton Mille
ོgrigar་་་་་་་་་་་་ T.71 S'hai Cottons........
T.11 Zoong Singe
8105
Wing On Textiles(8.) Public Utilities Tramways
$1.29 Peak Trams (old)...
Do. (new)...
Star Ferries
$34 Yaumati Ferrice(old) $33)
104
(DOW
cam, rights...
China Lights (old).......|
Do. (now)...
Do,
Ita.
T19.23
H.K. Electrics. 72
Macao do.
Sandakan Lighita ...
330 Telophones (old)...................
***
-
$27 #97 327.45
4+4
Do (LOW) China Buseseries.
Tractions
Do. (prot)
Industrials
AL
Malabon Sugars...
Cald book,
T.10
2/-
12).
$15
T.14
(ort.)
T.10
Macgregors pref.)
$6
Canton Ices
16
18,60
Cemonts (comb.)...
$8.75
Do. (old)...
35
Do. (new)...
$14
$10
Ropes
tempa
$104
$7
Uh: Agricultures
$27
***
T.2
Benguet Explorations,. 21 cents.
31A
3,00 Air Reduction
LAST SALE Mar. 20 Mar. 21
$60) · 857
T.
Hotels, 88.70.
87
425
$10
Hong Kong Lands, 872).
73
8.00 Allied Chemical & Dye 4.00 American Can .....
83
30
40
WTA
13/0
Chiness Estates, 805.
137
9.00 American Tel, & Tel.
1014
Hong Kong Trams, 821.
5.00 American Tobacco "B" Anaconda Copper Mining 14.0" - Auburn
འ།
71
7
37
391*
22t
2
$4.10
$1.70 $1.70
9
81
57
1.00 Chrysler Motors ........ 1.00 Consolidated Gas of N.Y. 4.00. Druga, Inc.
91
473
491
243
34
Sellers.
2.00 Du Pont de Nemours
301
372
877
3.00 Eastman Kodak
591
371
Raubs, 8104
481
6%. Electric Bond & Share
10
123
•
Hong Kong Lands, $73).
0.40 General Electric
14
13
36.75 $6.70 jez dv
Malabon Sugars, 815.
401
2,00 General Foods...
26
.20
(new)
Watsons, 811.
24
1.00 General Motors
128
112
***
| $744
United Theatres, Tla. 5.
243
1.00 Gillette Safety
16
141*
Shanghai Lapda ...
·10%
1.20 International Harvester .....
23*
211
Metropolitas Lande...
(Preferred)
871+ 8734
H.K, Realties!«»«««»»«]
$7,6%
Gk
67
4.00 Liggett & Myers "B"
.391
B01
3.00 Loew's Inc.
121
70%
13!
198
2.00 Pacific Gas & Electric
39
371
237
187
41
41
182
17%
La 3115
$814
$15
38.
301
38%
#31
$30
$12.95
$91
$79
24
37)
1.20 Union Carbide & Carbon 6.00 Union Pacific
s
243
78
524
434
United States Steel Westinghouse E. & M.
301 988 20k
+-Bid
445
International Tel. & Tel.
Montgomery Ward
280 National Biscuit
Pennsylvania Railway
Radio Corpn.
Sears Roebuck
1.00 Standard Oil Co. of New
Jersey
0.40 Socony-Vacuum Corpn.
דן
TRADE BALANCE BETTER
INVISIBLE EXPORTS
SHRINKAGE
Tho official estimate of the I national balance of trade for 1939, including both visible and invisible and invisible imports and exports, were published by the Board of; Trade on Fel.
It will show an adverse balance, but an improvement on the figure of the previous year, when there
balance. an Adverse
of
Was
the year.
Good Income Tax Receipts. Revenue showed, that income-tax payments came in well during the past week, the total of £17,586,000 being $4,414,000 higher than for the corresponding period of Total revenue was nearly £4,000,000 larger, at £32,004,73, while expen- diture, to £9,767,583.
1939.
JAPANESE SILK TRADERS ALARMED
GUILDS' MOVE TO EN- COURAGE 'DOMESTIC
CONSUMPTION.
Tokio, March 14-Silk men are alaimed over the gloomy outlook. They are keenly alive to the need for an immediate adjustment of the national policy, which has been centred on an expansion of overseas trade.
The world business depression, it is argued, has caused a marked shrinkage in the consumption of faw silk in all countries, and pre- sent suspension of the gold standard in the United States is a decisive blow to silk traders. Optimists anticipate a rally in prices through inflation in the United States, but any optimism, is dangerous. It must also be remembered that there is a constant and growing oppres- sion from rayon.
Most sik men are now inclined to think that the best thing is to bridge the emergency by encourLS The ing domestic consumption. matter will no doubt be discussed by reelers when they meet in Yoko- hama on the 17th instant."Spon- sored by the Nagano Silk Reelers Guild, the guilds in Tokio, Chiba, Kanagawa and other perfectures are to hold a joint conference at the Imperial Agricultural Society Building on the 23rd.
WHEAT AND THE FAR EAST
HOW WILL THE ORIENT DEMAND BE AFFECTED?
The wheat markets of the world. are somewhat perturbed at the course of affairs in the Far East. China during the past few weeks has been a consistent buyer of wheat and, in fact. has absorbed the bulk of the Australian ex- ports, thus relieving the pressure on European markets.
The probability, however, has to be faced that in the case of a de Anite war between China and Japan, China may have to cancel some of how contracts as it might be impossible for vessels to reach the Chinese porta.
At present Australian wheat is said to be mostly consigned to Treaty Ports" which are neutral territory to which, nominally, ergees should be free from inter Jarones. In view, however, of the experiences in the Great War, combined with the fact that Japan has a powerful navy, there is a considerable elemont of uncertainty in regard to for Eastern trade generally.
EXCHANGE
CLOSING QUOTATIONS
March 21, 1933.
O
LONDON':-
Telegraphic Transfer. Bank Bills, on demand
Bank Bills, 4 months'
sight
Credits, 4 months'
sight
ON NEW YORK:-
"Bank Bills, on demand s į Credits, 60 days' sight.. 23) ON PARIS
Bank Bills, on demand a : Oradíts, 4 months' sight os ON INDIA
Telegraphic Transfer..."
:: 881 Bank, on demand........ ON SHANGHAI :---
On Demand mums 701 O KORE:
On demand
ON MANILA:—
On demand ON SINGAPORE (*-*-*-*
On demand
ON BATAVIA:—
On demand Ox Siteo:-
On demand Ox BANGKOK:--
On démand: SOVEREIGNS, Bank Buying
Rato
BAR SILVER, per he
1.3
B
Miscellaneou
$27.16 Dairy Farma .......................
BCB
$27
ASIA LANDS, LTD.
U.S. INVESTMENT NEWS
AMERICAN TOBACCO Co.
The results for 1032 have not beca reported as yet but these are expected to run net more than about 15 per cent. under "the $0.08 per
share of common and B stock earn-
1
ed in 1031. The moderate decline in earnings last year, was due to the fact that cigarettes in packages of twenties sold for a higher wholesale price during average the year than in 1921.
The year 1933 holds several un- certainties for makers of the stan dard cigarette brands. Early in January wholesale prices were cut 23 per cent. in order more effec- tively to combat the lower priced brands introduced last year. How ever, the retail price of the lead ing brands continues above that of the new competition. The recont conservative dividend action American Tobacco has given. rise to considerable talk of another cut in wholesale prices soon. If this should develop, earnings for the almost present year would be cartain to be curtailed unless an entirely new advertising policy should be adopted by such com- panies
Tobacco. as American These companies could, if they do sired, absorb a very substantial portion not only of the last but also of another wholesale price cut by eliminating all advertising except that of reminder type.
of
JAPAN AND METAL PURCHASES
ди
London, Feb 28-The war tivities in the Far East have been reflected in a demand for such metals as copper and piglead. Of copper it is understood that con- siderable quantities were already purchased, chiefly from Amerita, across the North for shipment Pacific to Japan. In regard to piglea the demand which sprang up last week has become rather more insistent, and has had this week a further strengthening effect on the market. Requirements of metal will presumably be this chiefly met from Australia and Canada. Another interesting de
week has been velopment this Japanese demand for manganese ore of high grade from the West It is believed that at this point African Coast and also from India, any profits should be accepted on while inquiries were also circulat American Tobacco common and Bed to lift Whyalla iron ore from stocks and disproportionately large Australia Manganese ore has been holdings reduced, until more light
extremely depressed, for on the wholesale price situation is time past, and has been seriously evident. The shares offer good affected by price-cutting possibilitica over a longer period, South Russia, but it remains to be 64 though they may well sell lower
seen to what extent the market from time to time during the will be influenced by the special current year (from "Moody's In-
requirements of Japan; vestment Survey," February 6, 1023).
$19
$4.30
$1
Der A Wings.
5121
Amusements.....
$12
Ch. Etainment.................
$4,80
Constructions, (old);
.9/sta
Do. (naw)
,80 ot.
Lane Crawfords......
#21
Mackintoahsxturtres
Nanyang Tobacco... $4.78
$10)
Binceres oryel
$15
Watsons (old)......
310
Do. (new)
$3.35
Wm. Powells
$10
M. Greyhounds.......
$31
8. C. Enterprises...
United Theatres
B. Ind. G
Bonda...
prem
39
Wallace Harper -
China Sports Ltd ....
$920
H.K. Wing Op
S'hai Da
H.E. Goth. Loans ... $104)
LOUAI AND REGULAR OUTWARD MAILS,
事业
$235 #128
Fox SHKUNGWAN BRANCH
WEEK DAYB,
SUNDAYS & HOLIDAYS
FUR
FROM G.P.O.
FROM SHRUNGWAN BRANCH P.O.
FLOX G.P.O.
Bambul and Wnshow (By)
direct steamer)
(7.18 m. & { 7,00 m,in.. 17.00 p, 20. (8.00 p.m.
4.00 P..
4.00 p.m.
6.00 p.m.
ƒ 7,15 am, & ƒ.7,80 mm- ...{1.15 p.
{1,80 p.
6.00 p.m.*** 0.00.p.m.
8.15 Ball
Losty
Macao & Trishan
Zongmoon (except Baturday) Kankong (except Saturdays) "Fatahan and Wushow (By]
'Train) Tal O
Shumobbi
(By]
7.162,
1.00 pm.
$8,00 p.m. 19.00 x.in, &
8.00 p.
19,00&m &
f 1.00 pm, &
{5.00 p.m.
8.00 am. 12.80 p.m.
880
Fingehia5. Beatin... Shatin,
Batankok and Sheung
8.50 pe
4.80 p
Bhikung »
E. L. DU POINT DE NEMOURS CO.
Earnings of this company amount ed to $1.82 per common share in PO, 1932, against 84.24 in 1931. The company's substantial dependence General {71# sim. & § 7,00 m. a upon income from ite
5.00
7.00 pan.
110 p.m.
(6.15 pm & (6 30 min, d
1.15 patie
1,80 puni Sundays
Bundays 8,30 Lonly
6.00 pm
7,15 a.. 1100
40,00...
11.00 mm,
(11.00
& 5.00 p.m.
6.00 11.00
180 n.
10.30
9.00 4.1.
6.00 p.m. 6,00 p.
Motora investment is indicated by the fact that dividends from this -source in 1939 contributed $1.05 per share of du Pont's earnings, against 82.71 in 1931.
Du Pont closed 1832 in strong financial circumstances, with cur rent assets of 8107,300,000 compar ing
with
current liabilities of $10,000,000. Included in current assets were cash of $21,000,000 and government obligations and high grade short term investments of about $12,000,000. The company | does not carry aming ita current pecte the 10,000,000 shares of General Motors common stock (valued at $100,000,000) which it ain listed owns, nor investments
Invest companies and miscellaneous mienta of $40,000,000 2
Inasmuch as General Motors has announced continuance of the re- gular-annual dividend rate it my be anticipated that the 39 ddvidend of du Pont will be main- tained for the present. The com-
(Continued on neat Column):
kome
from 1
nine-
pany owns approximately tenths of a share of General Motors common stock for each share of its. own stock. Despite, the probable. continuance of low earnings for same time, the common stock ap: pear to offer good value at pre- tent levels based on its ultimate possibilities (from "Moody's In- vestment Survey," February 14, 1933)...
AMERICAN ORIENTAL FINANCE CORPORATION
A COMPLETE SERVICE
Asia Lands Limited
Gloucester Building.
Daily Quotations sent-gratis.
upon request.
NOW ON
The
SALE
DIRECTORY & CHRONICLE
of
CHINA, JAPAN, MALAYA, BORNEO, SIAM, THE PHILIPPINES,
COREA, INDO-CHINA, NETHERLANDS INDIA, Etc.
SEVENTY-FIRST
YEAR OF
PUBLICATION.
FULLY REVISED
AND ENLARGED
FOR THE YEAR
1933
37
AN INVALUABLE
REFERENCE.
BOOK FOR
USE EVERY
DAY OF THE
YEAR.
ORDER YOUR COPY TO DAY
Published by
THE HONG KONG DAILY PRESS, LTD.-11,
HOUSE HOUSE STREET
Canton
Cheungalow.
Aberdeen
Namtan Broki: a Taiping j