HONG KONG DAILY PRESS, WEDNESDAY, APRIL - 5, 1933
MONEY AND MARKETS
HONG KONG STOCK
MARKET.
YESTERDAY'S OFFICIAL
REPORT
THE EXCHANGE MARKET
MESSRS. ROZA BROS.. REPORT
Silver advices dropped 3/18 yes.
CHINA A PRICE MARKET
The Development of Industry
The following interesting com. After a fru opening at the murn-terday for both deliveries, the quo-ment arising out of the chairman's ing Session, prices eased off some
tations being 17 for Ready and speech at the annual meeting of what later in the day, but the
17.5/16 for Forward. Silver advices the shareholders in the Hong Kong undertone remains steady.
Investment securities, however, reported China as having sold. The & Shanghai Banking Corporation, market was quiet. In America the appears in the current issue of the continue to attract investors,
| rate was quoted at 27.3/16 for Spot. British Chamber Sales,
The tone was indicated. as being Journal:- stendy.
Hong Kong Banks, $1,715. Hong Kong Lands. $72. Hong Kong Trama, 8211.
Ruyers.
Canton Insurances. $1,355. Union Insurances, $550, HK. Steamboats, 822. Rauly, 20.10.
H.K. & K. Wharves $128. Providents (Old), $1,08. Providenta (New), $1.40, Hotels. $7,10,
Hong Kong Lands, $72. Chinese Estates, $95, Ewo. Cottons, Tis. 111. Hong Kong Trams, $21. China Lights (Old), $12). H.K. Electrics, $71. Macao Electrics, 823.35. Telephones, $271. Dairy Farins. 397.
Lane, Crawfords, 83.93.
B. Ind. GS Bonds, 071%
Govt, Lonus, 5% Prem. Douglases, 833.
Sellars.
Telephones, $279, Cements (Combined), $7.90.
Actors
TIENTSIN SHARES
lowered.
Market.
Quiet, the tone was inclined to casiness throughout the morning.
Sterling.
Business was done shortly after the opening at 1/313/16 for cash followed by transactions at 1/3.25/32 for near and 1/3.27/30 June, The market closed at lunch time with sellers at 1/3 April, 1/3.23/32 May and 1/3.13/16 June, buyers at 1/3 higher respectively.
of Commerco
In reading the annual report for The New York/London cross-rate 1932 of the Chairman of the Hong Kong & Shanghai Bank one is was slightly higher ut 3.428.
With the exception of the Tucl, struck by the absence of pessimism. rate which was unchanged at 761In view of the universal depression and the Bangkok rate which was the effect of which was keenly felt put up to 145, other rates were in the Far East in 1039-the general gloomy outlook and the uncertainty resulting from the present unsettled- conditions-there would appear to have been every excuse for regard
But ing the future with doubt. though, as in duty bound, referring to conditions in 1032 worse" than a bad year in 1931 "which was
conditions in from every point of view and briefly reviewing China, Japan, the Straits and Indi -conditions which unfortunately are all too familiar to those whose fortune it has been to trade in the East-the report points to phases of industrial development which indicate progress; to the opening up of new highways of national Business wae done at 22.13/16 importance providing means for There were motor transport between cities; to and 22 for June. sellers at 22.7/16 April, 2.0/10 improvement in railway revenues May and 22 June, buyers at and to the efforts now being made for cash, 92.11/16 May and 22.13/10 by the Minister of Railways, Mr. Koo Meng Yu, to restore China's railway credit by the setting aside and payment of certain amounts" Merchants were quoted at 1044 for towards the liquidation of overdue debts and bond obligations, all of near delivery.
which give grounds for hope that the long lane has a turning and that patience will be rewarded,
June.
W
Gold Dollars.
Yen,
H
Tasla, Sellers at 77.13/16 for cash, buyers probably at 1/8 higher.
Shanghai.
Sollers were indicated at 1/8.3/18, buyers at 1/8 April. The tone was
March 23.
Last
Buy, Sell, Sale.
83
.82
B/China
134
031
B/Communic
45
+45
Yienylch Salt Bk....
72
721
Ta La Bank
.56
53
50
Kincheng B.C.
53
52
Nut. Ind. B/China. 40N
37
C/Hsin Old-1919.... 8.70
casy.
0.70
Do. New
521
39 40 39.
60
G5 00
42
42
E/E de Ttsin...
SON 870 880
GIY Factory
M
10,
Hopei L. & B.A.
60N-
C/Ta Salt
C/Hsing Coal
Crystal, Ltd, E/Eng. Wks.
***** 5.20
Hotnug Land.
122
301
Imperial Hotel ....... Lazchow M. Co..... 500 830 302.50 N.C. Star......... ..M817- Soc. F. F. Ch. de
Tientsin
107
Ttsin
nv, .......
Ttsin Inv. Trust...
142 142 04 01
Ttsin Press
·57
58
"Tin Bldg. Co.
103-
Taku Tugs
981
N.C. W/Ws.
103
103
-Y/Hua Glass
940
Yung Lee Soda
50
*x.d.
CANADIAN PACIFIC RAILWAY CO.
Asia Lands, Limited Report
April 1, 1933. An exchange from the common stock into "Soo Line" refunding 5 per cent. bonds appears logical, for investors.
IN THE AFTERNOON. The market was caster in the afternoon.
NEW YORK STOCK EXCHANGE ASIA "LANDS, LTD., QUOTATIONS
(INCORPORATED IN HONG KONG.)
Tel. 25386-Gloucester Building, Room 306.
[REUTER'S AMERICAN, SERVICE]
Dow Jones Averages: High-1838 Low: Apr. 1° Apr. 3
New York: April 3.
30 Industrials
20 Faila
20 Utilities
40 Bonds
Change
.03 up.
68,78
41.29 55.66
38.60
41.30
13.23 36.00
24.99
30.11
*63.26
16.63 19,38 *10.33 66.78 74.38 74.14
.22 down
,07 down .05 down
Asia Lands, Limited, has received the following roport from their New York correspondents, E. A. Pierco & Co. There is no encouragement to trading in the present market. It looks as though some liquidation is in progross as a possible aftermath of the banking troubles. Wheat advanced on a bullish crap report. Cotton, generally, ruled featureless. Silver ruled easier, reflecting the declines in London and Shanghai. Business Done: 600,000 shares.
Div. 8
ALROM, rust The
President
AMERICA SUE.I STRAITS AN INDIA
INTERPORT:
TO CALIFORNIA TO NEW YORK........
TO SEATTLE VICTORIA
Liners REINTERDORY
Weekly Sailings Transpacific
To San Francisco, Los Angeles & New York
Panama
Fortnightly sailings on Wednesdays Pres HoKinley ... Apr. 19,1 a.m. Pres. Coolidgeeann mApr. 25 Pre Lincoln Pres, Hoover aga Pres. Wilson
Prehi.
Coolidge
To Seattle and
Victoria
Fortnightly sailings on Saturdays
Apr. 15 Prsa. Jefferson ..................................... Pres. Cleveland May 6 Fros. Taft
May 20
May 10
May 24
Pres. Jefferson..tseçecia
June 7
Pros, Madison
June 21-
June 3 June 24
ROUND TRIP FARES TO EUROPE & AMERICA.
Direct
Special through rates to Ecrope via United States. connections with all Atlantic lines.
Choice of mail lines acrosa
United States and Canada, liberal atop-over privileges for Sight-seeing. Full particulars upon application.
Fortnightly via Suez to Europe & America
Fortnightly sailings on Saturdays via Manila, Straits, Colombo, Bombay, Buez Canal, Alexandria, Naples, Gadon, Marseilles. New York and Boston.
Prez Van Burenda
Pres. Monroe
TO
8.00
Apr. 15 Pres. Garfield,
Apr. 29
Près, Polk....
MANILA
8 5.10.
May 13
::MET 27:
Pres. Jefferson April 8, 6 p.m.
Pres. Lincoln...............May 2
1932 HIGH Low
LAST SALE
PER. SH.
Apr. 1 Apr. 3
641-
30%
3.00 Air Ieduction
$331 836
804
49)
6.00 Allied Chemical & Dys
78
73
20+
1.00 American Can .......
502
557
137
70+
9.00 American Teh & Tel-
82
80
892
5.00 American Tobacco B
G0
613
10
www
Anaconda Copper Mining
1512
283
2.00 Auburn
313
33
43
189
1.60 Bordon Company
201
201
201
Canadian Pacific
311
1.00 Chrysler Motors
Pres. Monroo
681
31
4.00 Consolidated Gas of N.Y.
-57
93
3.00 Drugs, Inc. ........
301
92
2.00 Du Pont de Nemours
34
87
351
3.00 Eastman Kodak
31
+48
6. Electric Bond & Share
11
Next Sailing
261
84
0.40 General Electric
121
.12%
401
10A
2.00. General Fonds
......Apr. 15
251
243
7A
1.00 General Motors
Pres. Coolidge......
.Apr. 18
11
Pros Van Buren ..
Apr. 29-
*24 34
10%
1. Gillette Safety
138
Pres. Olevoland
Apr. 23
10
0.60 International Harvester .....
108
681
7.00
25
(Preferred)
89,
90*
101
28
International Tel. & Tel.
5
87
341
4.00 Liggett & Myers "B"
379
9
1.00 Loew's Inc.
3
Montgomery Ward
19
13
46% 37
201
2.80 National Biscuit
34
164
2.00 Pacific Gas & Electrio
90%
0.50 Pennsylvania Railway
Radio Corpn.
Seare. Roebuck
18
16
197
1.00 Standard Oil Co. of New
Jersey
121 387
0.40 Socony-Vacuum Corpn.
1.20 Union Carbide & Carbon
944
271
6.00 Union Pacific
528
43h
158
United States Steel.... Westinghouse E. & M.
Competition from Russia and Japan.
Bid
Pres. Cleveland
Prea. Taft ...... May 13 Pro Hoover inicio -MAX 18
Connecting with 8.8. MATON To CEBU, ILOILO, ZAMBOANGA:
TEAMSK DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE
CANTON BRANCH:-4, SHAKER' STREET,
U.S. FINANCIAL
CLEAN-UP"
STRAIGHT JACKET FOR THE
STOCK MARKETS
GREEN ISLAND CEMENT CO.
NET PROFIT 8401,000
At the forty-fourth Ordinary gen- eral meeting to be held at the offices of the Company, Exchange Build- Washington, March 29 One of ing on Tuesday, April 3 at 11:00 the best steps in President. Roose ani. The Board of Directors will velt's proposed fuancial clean-present the following statement for "will be the submission to Con-the year ended Desembr 31, 1902 gress of a hill requiring advertise
up
Trade Conditions in China, Though bad the general trade conditions in China are not worse than in other parts of the world, there and though
are вресіні
Though the development of in factors which have increased the
dustry in China, which is referred zeneral trade depression in China,
Patience, however, will not enable to in the report, is proceeding it is surprising that the effect should not be more marked than it the importer of British goods to In Sterling business was done utis. and that notwithstanding the
no small importance which must be
ments for securitice to convey, the 1/32 for May delivery, finishing uncertainties of the political situa meet the competition of Russia and it is nevertheless a factor of with probable sellers at 1/3.23/32 tion the Sino-Japanese war had Japan to which reference is made reckoned with. April, 1,3 May and 1/3.25/32 June, the natural nervousness of indusin the report and unless British
Such development indicates that fullest information and description undertake any pro-
manufacturers realise that China importers must readjust their bust of such securities, hayers at 1/32 higher respectively, trialists to
gramme of expansion at such a
condi-
All such details will be placed on ness to meet the changing time, there should have been any is essentially a price market-n"
fact that has been recognised by tions which will mean a change in progress to record.
governmental files-Reuter, both Russia and Japan-and commodities imported rather than seriously take up the challenge, the diminution in trade. fruits of any return to prosperity in China will be gathered by those who are able and willing to supply the article wanted at the pries the consumers are willing to pay.
Gold Dollars.
Business was dons at 223 for June delivery. At the close there were seller at 271 April, 22 May and 22.11/16 June, buyers at 1/16 higher respectively.
Shanghai.
Business was reported at 1/8.3/10 May. There were sellers at 1/58. buyers probably at 1/8.3/18.
sult more profitably than a commit- inent in the stock.
Minneapolis Rallway.
Because of Canadian Pacific's guarantee as to interest these bonds appear relatively attractive for in- come, though not for price stability. The Minneapolis, St. Paul and Sault Ste. Marie Railway Co. First Refunding Mortgage dis 1978 (rated A) are a stronger in vest- ment than is indicated by their junior mortgage security and the operating record of the company. This is so because of the interest guarantee by the Canadian Pacific Railway Company. The latter com- pany la expected to show fixed charges earned about 11 times this year, a year of poor business. In more normal periods fixed charges
All of which shows that the counsel of "patience" given by the Chairman of the Bank is based not merely on hope but on the solid foundation of belief in the genius of the Chinese for surmounting dif- ficulties and overcoming obstacles. and to their remarkable recupera
tive ability.
|#7.78
ETAS
(1973)
PRESTI
J
LEPRIKRON TVE
STOCKS
22.23
[145))
2423
1400
[23:19
(156)
TAAR
ן!
20.37
2035
20.30
The net prodt for the
year, after providing for depreciation on buildings and machi nery at Hok Un Works and Macao Works,
Steam Launches and, Lighters, etc., is $431,276.03 The amount. brought forward from the Previous year
Miring a Total of 3001,110.01
Washington, March 29.-President It is therefore not merely pati: Roosevelt's securities control bill, cance that is required but an appre-which was described in some quar. eintion of the fact that changing ters as an attempt to put the cous. conditions must be met and ittry's stock markets in a « «traight. possible anticipated.
jacket," wils introduced" in the Senate today by Senator Joyph T: which it is recommended should be Robinson, majority floor leader. carried forward to the credit of
The bill provides for fines and impext year's account. prisonment of 'dealers who mislead the public in describing securities. that are offered for sale, It vides for the fullest publicity and for Federal examination of the structure behind such recurities. United Press,
A.0.F.C. Average of Shanghai Stocks
CLOSES
AMERICAN ORIENTAL FINANCE
CORPORATION through its Agent Asia Lands Limited
Gloucester Building fattare offers a
COMPLETE BROKERAGE. SERVICE-
NEW YORK STOCKS. Full and Odi Lots of listed Securities bought, and gold for ash or carried on conservativo margin."
Phone 29380.
During the year, Messrs R. 0. Shewan and C. A. da Roza resigned from the Board, and More A. L Shields and T... earpe were in- vited to take their places
Under Article 101 of the Articles of Association, Mr. A. L. Shields and Mr. T. E. Pearce retire, but being eligible, offer themselves for re-election.
The accounts have been audited by Mesars Linstend and Davis and Mesars Love Bingham and Mat thew, Chartered Accountants, who are eligible for re-appointment.
EXCHANGE LOSING QUOTATIONS
ON LONDON:
April 1935
Telegraphic Transfer... 11 38 Bank Bills, on demant Bank Bills, 40
sight
Credits 4 months
sight
Jaj
ON NEW YORK-A
Bank Bills, on demand at Credits, 60 days' sight. 3 ON PARISON
A holder of Minneapolis, St. Paul Seult-Ste-Marie Railway Com pany First Refunding Mortgage 59., 1978, guaranteed as to interest by the Canadian Pacific Railway were earned by wide margins (165 Company, is apt to fare much-bet- times in 1031, 3.04 times in 1900-an ter over the next five years than a average annual coverage of 3.32 holder of Canadian Pacific Railway times in the ten years 1922-1931 in- Company Ordinary Stock. It is clusive). A recent balance sheet is suggested that the latter issue berot available, but on December 31, sold and the former substituted. 1931, the company had a working Canadian Pacific Railway Com-capital of 840,789,000, including cast pany earned a net income the equi! $21,876,000 and Dominion Gov. Annun. valent of ee cents a share of Ordier.ment bonds 82,100,000. nary Stock in 1931. This year it fixed charges toto! about 893,000,000, Regardless of whether the Min will undoubtedly show a smaller net income, not much in excess of divineapolis. St. Paul and Sault Ste. dend requirements on the Preference Marie Railway later finds it nnres- Stock. Even if there should be an sary to defer. interest payments on uninterrupted improverpent in certain of its bond issues and to traffic and earnings, beginning im- effect a downward revision of its mediately it seems doubtful that debt structure, holders of the First dividend payments would be regum Refunding 56, 1978, guaranteed ns
I day, being the day before the March rather active despite the approach ed on the Ordinary Stock for a to interest by, the Canadian Pacific
A.O.F.C. MARKET COMMENT
Settlement, was marked by a coming Settlement Day and the total period of several years; possibly not Railway Company, seem reasonably
plete standstill and only a very volume of transcctions for the week ON KOBE bfore 1935, since agricultural reassured of regular interest pay-
small sangunt of business was done amounted to $1,000,000- covery is apt to be slow and since ments. At current levels the honde
cotton and yarn prices. A fair Ewos could be obtained at 12.30 According to optimistic forecastin demand the company will be-under the neces-yield a liberal return and they may
ON SINGAPORE sity of expanding large sums for be regarded as a good substitute for
Demand for common stocks was amount of business was done at 19.20 April, and a good turnover in
conditions by next autumn will On demand. maintenance as soon as earnings more speculative railroad bonds.
promise definite improvement and OR BATAVIA permit, because of the indicated In the event of financial difficulty restricted again this week. There March, and 12.40 April. There was Wheelocks at 10.10 March, was noted there is a likelihood that business
During the second part of the if, in addition,We are favoured On demand urtailment in recent years When for the Minneapolis, St. Paul and was some interest shown for "dchen- not much life in the Market on with more shares wanted. and il diviačias are mall as Mati Radway Coutures, City Loant, and Power Pre-Thursday due to the adjustments for
ment Band Market was fairly pettront badook, we may at the ed, the chances are that they will they may temporarily display some ference, both whole dayed che March Bettlement The same dull- not immediately be at the old rate price weakness. Later, however, the vances on Tuesday 4. Hype line. nees provated during the following week for the Chinese Govern with some clear betterment of the by Baronas of B250 per share, per annum, but price of the bonds should mors of $200,000 City Loan changed hande days. A few land transactions com-
High rather at a smaller rate On the clearly reflect the value of the guarat 890. Following the dividend an-prised most of the business glone opsteady. There were several gains þeginnings of a assirmption that no dividend will be antee of interest by Canadian Douncement of Shanghai Tug &Saturday. Shanghai Lands was Lighter Co. attention of traders Cone at 22, Cathay Lands could paid on the Ordinary Stock for two Pacific Railway Company,
Wheelocks. Broe turned placed at 10.10, and China Realty *Extract from "Moody's Invest turned years at least, a commitment in the..
asier on Wednesday owing to lower were offered at 10.10 April Mon "Soo Line" is 198 ought to re ment Survey.
|13.75
SHANGHAI, March 28,
103131
Low for
recorded amounting to approximate ly one point. The Market was
moyoment
March 22,
ember 19, 1831-28.60 March 30, 1993-1080 March 27, 1933-19.00
Bank Bills, on demand $7 Oredita, 4 months' sight 1971; Telegraphie Transfer...
Bank, on demand On SHANGHAI
On Demand
On demand MANILA
ON BK
88
1