DAILY SHARE QUOTATIONS
HONG KONG STOCK EXCHANGE.
Buyers Baller
31,720]
396
Nom SATURDAY,
SHAREBROKERS'
ASSOCIATION.
Bayere
Bellare
MAY 27.
Banks
Do. (London) ***
Insurances.
4841110111
$1,730
213!
£91 $66
1,7971
+
H.K. Banks
£194
£131
Chartered Banks
2243
Mercantila Bks. "A"
£91
Do.
Bank of East Asia....
N. C. & B. Barks
$6.80
$20
Am. O. Fin. Corp:
6.40 76 00
Ch. Fia. Corp. Ord. .
Do
(100
Prof. S
IN
$1,440 $9.10
Canton Insurances.
Underwriters
121
448
35171
$592 ex d
Union InsuraNOSE ........
Jox div. #615
ez dir.
196
China Fires .........................
ex div, $690
H.K. Fires
$250
$250
$4.75
International Assce, S.
•
Shipping
$311
Douglases Te
534
Steamboats
322
Indos (pref.)
-530
$30
$30
$92
!!!!
$90
45,-
$16
Do. (del)
Shella....... Waterhouta
jex div. $1,436
$2.35
HONG KONG DAILY PRESS, MONDAY, MAY 29, 1933.
MONEY AND MARKETS
HONG KONG STOCK MARKET
SATURDAY'S OFFICIAL
QUOTATIONS
Saturday, May 27,
With fow exceptions, there was no material change in 'rates this ed to hear of the progress being merely a short half day, was not of any large turn- productive
over!****
Salės.
Hong Kong Banks 81727) Udion Insurances 8322 ex: Div. Hotels 87.05
Hong Kong Lands. 877 Telephones $29.63 Constructions (New) 81"
Ing
BUSINESS CONDITIONS IN
UNITED STATES
INFLATIONARY METHODS TO RELIEVE
DEPRESSION
PRESIDENT'S PRICE RAISING
PROGRAMME
ת
New York.The National City I which has seen the situation in this Bank of New York in the eummary light and carried through the poli of its Review for the month of May cies described, will exercies its infla- says that the embarge' against gold tionary powers with restraint and shipments from the United States under careful control. signifies a turn to inflationary the effort to find a way, methods out of the depression. Coming at a Union Insurances 8517 ex. Div. time when the Country's gold hold Underwriters 82.10
Hong Kong Banks $1720 Bank of East Asin 806 Canton Insurances 81440
Mining
$34
Benguets......
Venezuela Gold Fida
$34
H. K. Fire Insurances $255
94.40
$4.30
27/6
Kailans ********
95/-
Indo-Chinas (Pref.) $30
$11
Langkats (single) S.
$13
Ven: Goldfields 84.40
521
Exploratiune...... S.
Shanghai Loans
.
$21
Providents (Old) 83.90
$10
$9.60
Tronoh Mine
12/-
L
Docks, "WharYOS,
33.36
liiili
$7.05
3761
49
m!
31 ela. Benguet Explorations
Godowas, sic.
H.K. & K. Wharves....
יימי
$7.65
4331 Bongkews ...........
Humphreys ********
Do. "B".
$116 Sai Cotton S
Zoong Sings. S.
$130
Providents (New) 81.35 Hotels $7.05
Hong Kong Lands 876) Hong Kong Trams 8911 Peak Trams (Old) 816) China Lights (Old) 812.48. China Lights (New) 811) Electric $72).
Telephones 8281
Cements (Combined) 87.90
Cementa (Old) 86.40
Cemente (New) 81.40"
ings are close to record figures, and when its receipts on international acepunt exceed its payments except
Business Improvement. The course, of business has been upward since the middle of March, and; considering the severity of the disturbance in the economic system caused by the banking panic, the as flight of capital may temporarily recuperative power displayed has reverse the balance, this action is ingen decidedly encouraging. It has no way comparable to the unwilling been feared that the tying-up of de- abandor.ment of the gold standard posits in closed banks would depress by couuries, having a continuously business indefinitely, and apprehen- unfavourable balance of payments.sions had been expressed that the On the contrary, it is everywhere situation would lead to incressed interpreted as a deliberate stroke commercial difficulties and distress- of policy and as but one part of aed selling, but these fears proved unfounded. The financial situation broad programme to raise prices.
Complementing the embargo, the has improved, and the rapid drop Senate has passed a sweeping Act in the volume of trade and indus giving the President authority to trial production that occurred car- put into effect in his discretion ay in March has been followed by a rise of equivalent proportions quick- number of stated inflationary mea sures, beginning with an expansion y regaining the lost ground. More- of Federal Reserve credit by requir-over, commercial failures instead of Govt. Loans 2 per cent. Prem. ing the Reserve Banks to purchase increasing have decreased remark-
H. K. Steamboats 822
MESSRS. ROZA BROS... REPORT
$131
$3,990
Providonts (old) ***13 90
19
Do. (new) $145
$181
H.K. & W. Docks
18
$10
S. China Motor■' A'
38
18
Do.
38
3150
Shanghai Docks. S.
2.142
A
New Engineerings8.
"T.
Dairy Farms 8281
Lane, Crawfords 84.60"
Lands, Hotels, and
Constructions (Old) $41
Buildings
Constructions (New) 81
H.K. Hotels
$7,05
7.05/7-10
$77
H.K Lande.......... $70)
Sellers.
$33
Shanghai Landa...8.
$14
Metropolitan Lands..
$7.70
HK. Realties.........
$149
Chins Do.........
$137
Do. Debentures3.!
$134
$134
$140
Asia Rexities
B.
THE EXCHANGE MARKET
320
397
Chinese Estates......
Cotton Mill
3:6
Ewos
.8. $14.8
$108
$14
$14
#85
Wing On Textiles(S.}'
**00
Public Utilities
Tramways
321 $21.90
$18
Poak Trame (old)...
W
"Da. (new)...
$92
Star Ferries
$91
$99
Taumati Ferries
434
$12.45
3114 $72
Do. (new)... $114
H.K. Electrics .......
478
323
Macao do.
$104
Sandakan Lights ....
$28.03
$11
China Buses...... B
1/
Tractions
18:0
Do. (prof.)....in
Industrials
$16
320
Caldbeck, Word.) 8.
Malabon Sugars ----
$16
Macgregors pref.)6.
$7.90 $6:40
$1.40
19
$80
China Lights (old)... $12.40 $12.65 12.35, 12.40
Telephones... $25,40 $28.60 1228,80
(ok)...]
!!!!!
Jest
Canton Ives
Cements (comb.)... $8
Do.
Do. (Low)... Ropes
Miscellaneous
Dairy Farmina Der & Wings............... și Amusemente
Ch. Etainments................
Constructions, (old)
Do.
(new).85 cta
Lane Crawford..... $4.65 Mackintosh
Nanyang Tobacco...
18.10
*****
TH
$121
$12
*
1,9& ct./1
„Juni
$12
SI
$4.60
121
$102
Binceres
$154
$9,40
Watsons
$2.10
Wm. Powellsnesses.
$1.90
$10
M. Greyhounde..
531
8. C. Enterprises
$2
#
United Theatres,....... 8.
自
70%,
B. Ind, G. Bonds... 71.
91%
HK. Gort, Losus .......! $10ží
$9
Wallace Harper......
China Sports Ltd...........
$300
H.K Wing On ......
#202
S'hai Do.
$153'
annam.
The
up to $3,000,000,000 of Government ably Steal mill operations have securities in addition to those they had pronounced revival, rising already hold. The Act recognizes from 14% of capacity in the third the possible ineffectiveness of this week of March to 25% in the last effort, and provides that if it shall week of April. According to the be considered unsuccessful an issue Iron Age estimates, this is five con- of Treasury currency for the pur-secutive weeks of gain and brings pose of paying Government obliga- operations to the highest point since March 1032. Automobile. sales tions in the amount of $3,000,000,000 may be made, the currency to be re-mapped back smartly after the mercantile deemed in twenty five years at the Bank Holiday, and rate of 4% of the total issue per trade picked up after the middle As a final recourse, and of March under the joins influence Messre, Roza Bros., have forward- with the return to the gold standard of the approach of Easter and the dus the dllowing exchange mar in mind, the President is given reopening of the banka, and the in- ket report for Saturday:-
power to reduce the gold content of provement has continued.
Easter retail trade was better than Silver prices dropped 3/16 yester-the dollar by not more than 50%. day for both deliveries, the quota. This sweeping Act, states the had been expected in view of all the eircumstances in wholesale tions being 1 for Ready and 18 Bank, defines the policy of the Goy-
The markets
advance in com- 9/16 for Forward. Advices received ernment in indisputable terms as an reported the Continent and specula-intention to raise prices, and con-modity prices has stimulated de tors as having sold. Indian specula-fers powers upon the President demand. tors bought at the decline. America signed to be sufficient for that pur- also bought. The tone at the close pose: Removing the currency and Commenting on the depreciation was steady. In America the rate credit systems from the automatic of the dollar in the foreign ex- was quoted at: 331 for Spot.
discipline of gold and substituting changes and the spectacular rise in New York advices reported the the management of the executive commodity and stock prices during rate at 3.833, nominal..
authority, it places upon the Pre- the month, the Bulletin says that Market.
sident the full responsibility for the while: the advance discounted the Stendy at the opening but later execution of this programme: like steps taken in the direction of infla- firmed up in sympathy with Shang-wise, it lodges with him the respon- tion it has not been solely due to sibility for the control of inflation theinflationary developments, and to ary forces it once they are loosed. ascribe it entirely them is to mis
Along with the price-raising pro-judge the situation. Both business gramme, the Bulletin says, the Gov- improvement and changes in the ernment is undertaking measures market position of various com for business recovery which may be modities have been factors. The Later described as
a combination of ad grains have led the rise and no justment to restore the balance in inflation explanation is necessary to economic relationships of relief for account for higher grain prices in distress, and of activities to stimu view of the abort wheat crop. The strong late employment. The chief of the advance in sugar has s adjustments is the reduction of statistical basis. The rise of wool, 81,000,000,000 or "more" in the cost hides and silk, has the support of
hai.
Sterling.
The market opened with sellers at 1/4 19/32, buyers bidding 1/4 21/33 leading to business at 14 for cash followed by transactions at 1/4 11/16. second half July, also July. 1/4 21/32 was also done for June delivery. The market closed with Bellera at 141 May-June and 1/4 11/18 July, buyers probably at 1/32 higher.
Gold Dollars.
Rise In Commodity Prices
No business was reported. Thereof operating the Federal Governan improved statistical position. were sellers arly in the morning ment. This is an achievement evok The decision to shut down domestic a factor in copper, Scrap nt 27 3/16 for cash but towards the ing unqualified approval and admines close 27 could have been obtained miration. Other measures of read steel has risen in Pittsburgh by. for near and June and 27 July,justment include provisions for re- 81.60 a ton, and pig iron in some buyers, at 1/8 higher respectively.
financing farm and bome mortgages markets by 81 to 82, and this at reduced valuations and lower signifies a short supply and a better interest rates, and a bill for the re-demand from the steel makers who habilitation of the railways. The are selling more steel to automobile fact that the programme of the manufacturers, who in turn are Wore quoted at 111 for rear de Government includes these readjust-selling more ears and these sales are livery,
:
Yen, Merchants were quoted at 111 for near delivery.
Shanghai Dollars.
Shanghai Sellers were indicated at 1/2 15/16, buyers probably at 1/3 for dear delivery..
ments is a very important consi- accounted for not by expectation of deration. It has served to maintain. inflations but by a desire and need confidence, that an administration | for automobiles.
.
president liners
sail 1,391,000 miles
Weekly Sailings Transpacific
To San Francisco, Los Angeles & New York
“via ́„Panama Fortnightly sailings on Wednesdays" Pres. Wilson
June 7 June 21 Pros. Coolidge Pres. Jackson
Pros, Hoover
* * *
་་་་ ་་་་་་
To Seattle and Victoria
Fortnightly sailinga on Saturdays
Free. Jafferson............................. June 3, 1-am Pres. Cleveland
July 8
Pres, Taft.........
.... July 19
Pres. Jefferson
0824 ....Joly 8 .......................July 22
ROUND TRIP FARES TO EUROPE & AMERICA,
Special through rate to Europe via United States. "connections with all Atlantae lines.
Direót
Choice of mail lines across
United State and Canada, liberal stop-over privileges for Sight-seeing. Full particulare upon application.
Fortnightly via Svez to Evrope & America
Fortnightly sailings on Saturdays via Manila, Straits, Colombo, Bombay, Suez Canal, Alexandria, Naples, Genoa, Marseilles, New York and Boston.
Pres. Adams Pres. Harrison
81.0.
..June 10
June 2
Pres. Payoveries
TO MANILA
Next Sailing
.8 ..
Pres. Wilson May 30, 6 p.m.
Fres. Jackson Pros, Taft
....June 10 Pres. Adams
**** Jare 37 Pres. Coolidgo June 13 Fres. Cleveland...June 17 ...Pres. Bayes...aly B
...June 14
Pres. Hoover .......................July 11 Pres. Harrison Connecting with 8.8. MAYON To CEHU, ILOILO, ZAMBOANGA
DOLLAR STEAMSHIP LINES · AMERICAN MAIL LINE
PEDDER BUILDING-HONGKONG.
CANTON BRANCH, SHAKES ROAD.
NEW YORK STOCK EXCHANGE
ASIA LANDS, LTD., QUOTATIONS
- (INCORPORATED IN HONG KONG.)
Tel. 28380 Gloucester Building, Room -306.
(REUTEL'S AMERICAN SİEVIER.)-
New York: May 27. Dow Jones Averages:
Bigh- 1932
30 Industrials * 20 Rails
68.78
41.30
30.11
83.98
Low: May 26. May 7. Change '41.22 86.42"
89.61 319 up 13.23 40.99 42.98 1.20.up
20.51 16.53 28.66
.85 up. 65.78 93.07*** 83,30, 43 up
༢༥
20 Utilities 40 Bonds Vāsim Lands, Limited, has received the following report from their New York correspondents, E A. Pierce & Co. On the surface the market looked wild but it is difficult to say that it is yet at the danger or boil- ing point. We still expect oils and rails to show more aggressivenese before the climax. Cotton moved into new high levels and heavy offerings were absorbed in an impressive fashion by the foreign and domestic trade. Washington developments and the trend of the dollar and foreign exchange are at present the principal factors. Wheat: The strength of cables and foreign exchange stimulated demand, which was general. Realising was responsible for a one cent sot-back in late trading. Silver: There were constant commission-house demands and and some foreign buying, "Bank profit-takere sold. Business Done: 4,310,000 shares.
Div. 3/
€49
Low PER SH.
8.00 Allied Chemical & Dys
Canadian Pacific
35). 3.00 Eastman Kodak .................
€8
1932
HIGE 69+
301
200 Air Reduction.
LAST BALE May 20. May 27.
$79
$811
941
1024 1001
821
201
4.00 American Can`.........
'911
30
51
American, Smalting.
314
34
1378
70
9.00 American Tel. & Tel.
113
1191
892
44
190
3
3.00 American Tobacco "B" Anaconda Copper Mining
86
.89
131
148
เมย
28,
2.00 Auburn
334
·64)
431
18
1.60 Borden Company"
30
202
22
13
10
www
477172
21
5
J. L Castosesijai, papannees 2.00 Chase National Bank an 1:00 Chrysler Motors
70
20 bid 26 bid.
081 314
23
4.00 Consolidated Gas of N.Y, 3.00 Drugs, Inc.
.....
51
545
1
22.00 Du Pont de Nemour
48
5
6% Electric Bond. & Share
EXCHANGE
LONDON STOCK, EXCHANGE
TO REVIVE CHINESE TEA INDUSTRY
81
0.40 General Electric.
401
19
2.00 General Foods
331
243
101
1.05 Gillette Safety
14 301
May 17, 1933.
(BRITISH WIRE/ESS SERVICE.}
Telegraphic Transfor....
MERCHANTS APPEAL TO GOVERNMENT FOR HELP.
Tel. & Tel.
(Preferred)
108) bid 100 bid.
12#
13
17.
18
Paris
B31
New York
Montreal
Brussela
Geneva-
3.00 4.471 24.241 17.47
Amsterdam
Milan
Berlin. Stockham
6.371
14.42
19.43
Copenhagen..
Oslo
22.45
360
1.20 Union Carbide & Carbon 6.00 Union Pacific
40
112
·62€
United States Steel Westinghouse. E. & M..
Asia Lands Limited
Gloncestor Building Tel. 28380. We offer you a complete brokerage service for the purchase or sale of New York Securities Daily quotations sent-gratis-upon request. See our investment news" on the Financial Page of The Hongkong Dally Press
Canton Agents
John H. Ferguson & Co.
32, B, C. Shameen.
Tol 18024
CLOSING QUOTATIONS,
(IN LONDON:
Bank Bills, on demand Bank Bills, 4 months'
sight. '/ Oredits, 4 months'
sight...
OR NEW YORK:--
Bank Billa, on demand 26) nom Credits, 60 days' sight.. nom..
ON PARIS:-
11
Bank Bills, on demand 1824 Credits, 4 months' sight.628)
ON INDIA :-
Telegraphic Transfer....... ] Bank, on demand
OR SHAHORAX :-
On Demand
On Kost:-
Vienna Prague
Helsingfors
Lisbon
·Athens
Bucharest
19,70
81. nom.
+596
110
Madrid e
110
590
5794
250
On demand.
ON MANTLAli?
On demand
63. m
ON SINGAPORE :—
On demand
Belgrade Rio
ON BATAVIA INT
On demand
B
ON SATOON
On demand
ON BANGKOK:4.
On "demand BOVERKIGNS, Bank Buying
Rate
Ban Silym, per oli mus
Buenos Aires
Montevideo Bombay
Shanghai Hong Kong
Yokohama
Silver (Spot) Silver (Forward) Warloan 31%
nom,
411 official
134 nom.
1/65/64 '1/2 13/16 *-1/4
1/2
18
-19 9/16 992
Canton. Tes merchants through- out the country are feeling alarm- ed at the steady decrease in the quantity of Chinese tes exported to foreign countries, following in tense competition from India, Cay lon and Japan. Merchants in these countries have the advantage in most instances of financial support from their governments and were thus able to give long term credite to their customers which our ex- porters with limited financial means are unable to do.
Application has been made to the Government for measures of relief! and plans are being made, it is understood, for steps to be taken to turn out special grades of tea to suit foreign- tastes and to con duct suitable publicity campaigns (Continued at foot of next Oslums)
78 1.00 General Motorspo
0.00 International Harvester
*7.00
International
4.00 Liggett & Myers. “B
1.00 Loew's Inc.
Montgomery Ward
2.80 National Biscuit 1.00 National City Bank 2.00 Pacific Gas & Electric 0.50 Pennsylvania Railway
Iladio Corpn.
Sears Roebuck
1.00 Standard Oil Co. of New
0,40, Soomý Vacuum Corpn.
for the promotion of sales of our quate supplies were shipped to that products.
province. General Ho Chien, the Local Tea for · Hunan,
chairman of the Hunan Govern Hunan province has always got ment, to whose notice the matter their supplies of tea from Canton, has since been brought, has sinc but owing to the imposition of ebrii caused these illegallation de tain levies on the product. by some Canton tes to be removed and of the local authorities of that further sent a message to joi province, local tea exporters have klants inviting the contin preventedet ville
while with the result that inkisa