DAILY SHARE QUOTATIONS
HONG KONG STOCK
EXCHANGE.
Bayer Bere
14 444 40!!!
Balna Nominal! JUNE
SHAREBROKERS'
ASSOCIATION.
HONG KONG DAILY PRESS, WEDNESDAY, JUNE 14, 1933.
MONEY AND MARKETS
COMPANY'S
TUESDAY.
Bayern
B.Bare
13.
THE MALAYA RUBBER
Banks
$1,740 H.K. Banks
IN
$1,735
£120
14
Do. (London) **| Chartered Banks ........
14
£24
£97 196
Bank of East
Asia...
598
N. O. & S. Barks
$7.20
$20
Am. O. Fin. Corp: B.
$5.40
Ch.Fin. Corp. Ord. B.
#500
.Do
Pref. 8
K
Mercantile Bas. "A"
Do.
Insurances
Canton Insuraness. $1,465
Underwriters
1205
Int
58.40
$516
3895
Union Insurances ........
1695
China Fires
H.K. Fires
45 International Amce. S.
Shipping
Douglasss...
Steamboats
Ludos (prof.)
Do. (def.)
Shells..... Waterhosts
Mining
!!!!!!!TTI
***
32.40 8515 3590 $260
⠀⠀!!!!
$34
$22
$30
$30
49/- $15
$325
$30
$30
47/8
$13
333
Benguets.......... Venezuela Gold Fld
32/6
Kailana................
$16
Langbats (single) B.
Explorations.... -
16
Shanghai Loans S.
$2
$10
$3.90
316
131 ct
Ranba.................... Tronoli Minos ***** Benguet Explorations Decks, Wharves,
Godowns, sto. H.K. & K. Wharves. Providente (old)
... 13.98 (new)... $1 40
3118
$11
Do.
H.K. & W. Docks....
#10
18
S. China Motors A'l
Do.
13
#33
$13
$781
3148 Shanghai Docks 3.
57.05
New Engineerings.
Hongkewa ..........
Laads, Hotels, and
Buildings.
HK Hotels
B.K Lands.......
333 Shangbai Lands.....S.
Metropolitan Lands.. H.K. Healties...
$142 China Do...8. $137
Do. Debentureas. Humphreys
$140 | Asia Renities "A"S. Do. "B"8.
320
Chinese Estate......
$14
$8
313,40 China Lights (old)....
H.K. Electrics, make
Macao doma
1104 Sandakan Lights ...
Telephones...T
334) $4.60 25/. 3156
39.50 12/-
$199
$178
38
38
$149
$7
⠀
B$
*
ANNUAL MEETING REPORTS OF FIVE
31
CONCERNS
SLIGHTLY MORE OPTIMISTIC TONE
HIGHLANDS AND LOWLANDS COMPANY
PRODUCTION OF RUBBER ·
AND OIL
The twenty-seventh annual general meeting of the Highlands and Low tands Para Rubber Company, Ltd. was held at the registered office of the company, Ceylon House, 49 and 31, Eastcheap, London, E.C., Sir Frank A. Swetenham, G.C.M.G., C.H., chairman of the company, presiding.
and
The question to which your at tention will doubtless have been directed when you received these documents is how much money has been lost on the year's operations, and the answer is the sum of £833 59. 3d. As against this we have transferred from contingencies re- serve the sum of £1,000 which is no longer required, and that gives us
credit balance of £164 148. d. to carry to appropriation account. Adding the rum of £2,471 7s. 6d. brought forward from the previous. account we are left with an avail able credit balance of £2,636 95, 1d. which we propose to carry forward.
It is always unpleasant to have. to chronicle a loss but I think you will all agree that for, a Borneo company and under the degressing conditions which have prevailed during the year, the amount is a small one.
The chairman said: I repeat the warning I gave you twelve months ago to bear in mind that this com pany now produces two products, rubber and oil, and the addition of
As you will have learnt from the a considerable acreage of oil palms
an-report, wo have cut out a further has added to the duties and xieties of everyone concerned-both area of 100 neres of unproductive here and in the East-and that it is hill rubber in the older plantings equivalent to a practical doubling from the schedule but, as I have of the work. With both products previously reminded you, we have here is the same clearing," planting young clearings coming along which more will more than off-set the amount manufacture - much elaborate in the case of oil-but of hill rubber upon which we can when it comes to packing and no longer usefully operate. As to trausport, while rubber is a simple the young clearings, it may be said preposition, oil is a very difficult that they are fulfilling their early one, and involves special storage in promise and that all our advices great tanks on the estate, transport show that they will, when mature by rail to Singapore in special give us some very excellent fields of waggons, and bulk storage in Sin- rubber. gapore before shipment. All these operations need careful method and organization, with risks of leakage and other damage to the oil, and of course they mean great expense. $14.80 The measures necesMry
$76.
$8.06
$131
-110
0143
1991
1+1
$17
Cotton Mill.
$14)
Ewos
$100
S'hai Cottons......S.
$14
Zong Sings.....S.
200
Wing On Textiles(3.) 195
Public Utilities
$21.00
$213
Tramways**
$91.90
$115
Peak Trams (old) .......
$73
Do. (now)...
$15 $7
$2 Star Ferries BANGUNAN
$984 Yaumati Ferrics
$29.
$13
$124
Do. (now)...
9726
573
123
$291
$11
China Buses......9.
1-
Tractions
13'.
Do. (pref.) náv
Industrials
BIS
Malabon SugarR
++
$20
Caldbeck, Yord.) E.
....
$16
Macgregors (pref.)8.
36
Canton Ices..........
$7.60
Cements (comb.)...
87.63
#8.40
Do.
(oid)...)
$14
19
Ropos
$9
$1
J12)
$124
$4
Dairy Farms. Der A Wing...................... Amusemente acaen' at Ch. E'tainment....... Constructions, (old))
$1
$4.80 $4,90
$14
$271
!!!
Do. (now)...)
Miscellaneous
A
Do. _{new)} Lane Crawfords....... Mackintoshs......... Nanyang Tobacoo... Binceres
$10 | Watsons *****
32.10W, Powella .................
$10
M. Greyhounds.
United Theatres... 8.
saj
N. U. Enterprises
И
70%
B. Ind. G. Bonda... 73.
31
prem
$9
Wallace Berper.....
$100
H.K. Govt. Losun... #03
Chias Sports Ltd...
B.K Wing On S'hai
Do
$6
to enable
us to transport our oil in this manner were completed last Decem ber, and it is only now that various defeets having been remedied the system is beginning to work smooth- ly. We have 5,551acres of rubber and 1949 acres of oil palms, 4,981 nors and 97 weres' and respective- by being in production. Last year we produced 1,985,000 lbs. of rub ber, over 401 tons of palm oil and 55 tons of kernels. Compared with the previous year, there was a smail reduction in the output, of rubber and a considerable increase over
tons-in oil and kernels.
The average net price secured for rabber was just under 2d. per fb.: while for the combined products of the oil mills, it was £12 per to In both eases the prices were con- siderably lower than the average obtained in 1931, consequently there was alors of £1,370 19s. d. last year compared with a profit of £153 in 1931. Taking rubber and oil palms separately, and comparing them with the figures of the pre vious year, rubber shews a trading $281
loss of £2,883 compared with the 1911 profit of £847; while the loss $12?
on of palms was reduced from $111
£1,635 in 1931 to £892 in 1932 and 90 ote that is an encouraging sign. $4.85
8155
were
possible to get what seemed an ad- vantageous price. 383,040 lbs. of rubber were sold forward for de livery during 1932 at an average of 2d. per. lb. For the current year we have sold forward 637,000 s-about one third of the prob- 819able output-at an average price of 2 13/32d. per lb. The Board is determined to produce only so much rubber as can be exported at the lowest possible price, and as we do tot accept the doctrine of "the larger the output the lower the cost" we have given instructions which, if carried out with sympathy and understanding, should, we be fiave, result in a slight reduction in costs; even though the production may be reduced. A considerable area is being tapped once, in three daya.,
Asia Lands Limited
Gloucester Bullding 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 Daily Press,
Canton Agents
Labour conditions have in Borneo presented special difficulties and it has required considerable effert on your manager's part to keep a eufficient force together.
The report was adopted.
FIRST LOSS IN 24 YEARS
RUBBER PLANTATIONS
TRUST
HONG KONG STOCK MARKET.
YESTERDAY'S OFFICIAL
QUOTATIONS
Markets displayed further weak- ness to-day, and not even the in- vestment issues escaping the general- tendency, the latter, of course, being chiefly due to the rise in Lexchange :-
Sales.
Hong Kong Banks, $1,735/1,740, Union Insurances, 8517/520. Hong Kong Trams, 8218. Electrice, $73.
Buyers.
Hong Kong Banks, 81,720. Canton Insurances, $295. Douglases, 832).
Indo Chinas (Def.), 8393. Docks, $16.
Providents (Qld), 83.90. Providents (New), 81.40. Humphreys, 813). Hong Kong Trams 821.60, Electrics, 872}.- Dairy Farms, 827), Lane, Crawfords, $4.80. Govt. Loans, 31 per cent, Prem.
Hellera
H.K. Steamboats, 27. Raubs, 810.
Hong Kong Lands, 8762. China Lights (Old), 813. Telephones, #204.
Cements (Combined), 87.60. Lane, Crawfords, 84.00.-
number of Europeans for super vision. This had left them with building accommodation in excess of requirements. Factory proce dure had also been modified and simplified to a marked degree, with the result that, when it became necessary to replace their present equipment, lighter and less costly machinery would, they anticipated, be installed.
For those reasons £21,000 had been written off buildings and machinery account, reducing book values to just over £10,318.
The credit at profit and loss ne.. count for the year, including-in- terest on invested funds. totalled £8,434. Tho 9 per cent. dividend recommended called for £5,884, and was therefore more than covered by earnings Lalu, if the distribution was approved, would return to the dividend list after only one year's a 26 years' con- break (1931) in. sistent dividend record. e
The report was unanimously adopted.
CHEVIOT RUBBER'S STRONG RESOURCES
At the twenty-fourth ordinary meeting of the Rubber Plantations Investment Trust, Ltd., Mr. Henry J. Welch (the chairman) said that only once previously had they shown a loss in the twenty-four years history of the company. The teas were produced at a record low cost, but, unfortunately, had realis- ed the lowest price ever recorded. The depreciation on the book cest of the investments, other than pro perties, at December 31, 1932, was £1,100,250, but a valuation made the day before showed this depre- ciation had decreased to £851,204, At the twenty-third annual gen against which the company had the oral meeting of Cheviot Rubber, reserve decount and carry forward Ltd., Brigadier General -the Hon. amounting to about £500,000. The Charles
(the Lambton, D.8.0.
DIVIDEND OF 21 PER CENT. RECOMMENDED
tea estatea stood in the balance-sheet chairman), in moving the adoption at the conservative figure of £5 per of the report and accounts, said planted acre. The prospects for the the crop harvested last year was current year were not at present 1,854,000 lbs., which approximated encouraging, although with re-closely to that for 1831; revenue ex- striction of tea exports in force penditure had been reduced by an further improvement in the price sum equivalent to almost id, per of the company's teas was hoped Ib. on the crop
agreement must
We should not have come quite so wall out of 1832 had it not been for
for. $13.80 some forward sales which
The price of rubber bad fluctuat- The necessity suggested by Sired between small limits and no 194 nade by the Board whenever it was $1,50
Cecil Clementi that any inter- sustained improvement had occur bered, the price realised for their national multilateral, he said, probably was standard rubber had exceeded the based upon the fact that of the market average. for the period by present planted areas, estimated at 10 per cent. That result, and the 7,000,000 acres, only about 7,000,000 continued vigilance exercised over are situate in Malaya, Ceylon, In expenditure, ware responsible for the dia, and the Dutch East Indies, credit balance on working account. and about. 900,000 in Sarawak, General reserve, which in last year's. British Borneo, Indo-China, Binm, accounts stood at £54,916, had been and other countries. The greater reduced to £30,000 by the appro- difficulty however, was that refer-priation of £21,216 for the purpose red to both by Sir Cecil Clementi of writing down the value of build- and Mr. de Graff, of formulating sings and machinery, which, after practical scheme which would be that operation, stood in their books quitable to the native producers at £14,497. That sum was practi
cally balanced by the reserve for in the N.E.I.
depreciation of buildings and ma- LABU (F.M.S.) RUBBER PAYS chinery shown on the opposite side
of the balance-sheet.
Expenditure on immature arcas in 1932 amounted to £6,070, 25 against £10,677 in the previous year, and in the current year a further reduction might be counted upon. Calls upon capital account for upkeep of immature areas were Rubber Company, Ltd., Brig. Gen. progressively diminishing as the the Hon. Charles Lambton, S.0. trees developed, and the company's (the chairman), said Glendale resources could well withstand the property socount showed an in-amounts likely to be required. The crease of £4,023, representing cost credit balance at a profit and loser of upkeep of the whole planted area account amounted to £0.801, of. of 2,603 acres, inclusive of complet- which, the dividend of 1 per cent. ing budgrafting in the 1931 area. This sum compared with £11,976 ex-
Mr. Hay's Visit to Estates. pended in 1931 For 1923 expendi Referring to his retent visit to the. ture would show a further redue-estate, he said that was the third tion. At the end of 1932 buildinga nccasion on which he had visited the and machinery account stood at Cheviot, properties in the East, and £31,318.
there, he said, showed remarkable
John H. Ferguson & Co.
32, B. C. Shameen.
18624
DIVIDEND
It is expected that by bulking the
2 PER CENT, APPROVED
oil, and transporting it to Singa pore in specially fitted trucks, a saving of 24 per ton may be effecteral meeting of the Tabu (F.M.S.)
ed as against transport in barrels
The report was adopted.
KIMANIS RUBBER
SATISFACTORY CASH POSITION
The twenty-third annual general meeting of Kimanis Rubber, Ltd., was held at the Registered Office, 32-34 Gracechurch Street, London, (E.G. ^ 8, Mr. Charles Emerson
(Chairman), presiding.
* The Chairman
Said:
At the twenty-sixth annual, gen
recommended would take £6,500.
The changes in methods and adaptability in that, in face of cir. procedure resulting from altered cunstances probably unprecedented economic conditions entailed in any other industry, their com smaller labour force and a lesser pany had earned a profit, and was
[Continued on next column). able to pay a divipend
Weekly Sailings Transpacific
To San Francisco, Los
Angeles & New York
To Seattle and
Victoria
via Panama “
**SOL
Pros. Taft...
Pres. Jefferson
Juna
...July 6
July 32
Fortnightly mailings on Wednesdays Fortnightly sailings on Saturdays Prea, Coolidge Juba 21, 1 am. Pres. Cleveland ... Fres. Jackson............................................July 5- Press Hoover ...
July 19. ROUND TRIP FARES TO EUROPE & AMERICA.
Direct Special through rates to Europe via United Stater. connections with all: Atlantsolines. Choice of rail lines sorons. United States and Canada, liberal stop-over privileges for Sight-seaing. Full particulars upon application.
Fortnightly via Suez to Europe & America
Fortnightly allings on Saturdays via Manila, Straits Colombo, Bombay, Saez. Canal, Alexandria, Naples, Genoa, Marseilles, New York and Boston,
8am.
Pres. Harrison June 24 Pres. Hayca....!
MANILA
1.
Pres. Cleveland June 17, 6 p.m.
TO
Next Sailing.
Pres. Harrison
June 24
Pres. Hayes....
Pres. Jackson *** Pros. Taft
June 27
Prea. Hooter
July 1
Pres, Jefferson
July Я
July 11
July 15
Connecting with 8.8. MAYON TO CEBU, ILOILO, ZAMBOANGA
DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE
TEDDER BUILDING-HONGKONG.
CANTON BRANCH:—4, SHAKEE ROAD.
PACIFIC ORIENTAL MONTHLY CARGO AND PASSENGER SERVICE
SELANDIA" Sailing on or about
·M.S."
FOR LOS ANGELES
SAN FRANCISCO,
ETC, via SHANGHAI ........
22nd JUNE
CARGO AND PASSENGERS ACCEPTED FOR SHANGHAI, SAN FRANCISCO, VANCOUVER,
SEATTLE, LOS ANGELES, ETC. THROUGH BILLS OF LADING ISSUED TO OVERLAND POINTS.
Excellent Passenger Accommodation
Passenger fare Hongkong/San Francisco 08120 (1st class only) For Freight and Passage, etc, please Apply to: ;
The East Asiatic Co., Ltd. The Chinese American Shipping
Agenta
JOHNMANNERS & CO.LTD..
Company
"Agent: HONG SLING
Office: MERCANTILE BANK BUILDING (TUP FLOOR), 7, QUEEN'S RD., ULSTRAI, TELEPHONE: 24071.
NEW YORK STOCK EXCHANGE
ASIA LANDS, LTD., QUOTATIONS
"(INCORPORATED IN HONG KONG.)
Tel. 28380-Gloucester Building, Room 304
{REUTER'S AMERICẨM SERVICH]
New York: Jupe 12,-
Dow Jones Averages: High--1982 Low: June 10. June 19.
30 Industrials.
20 Rails
20 Utilities
40. Bonds
Change
88.78
41.22 94.42
96.75 2.33 up
41.30
$18.28 42.98*
44.43 1.45 up.
36.11 63.26
16.53 35.36
37.50 2.14 up
66.78 84.18
84.62 .14 up.
Asia Kanda, Limited, has received the following report from their New York correspondents, E. A. Pierce & Co. The action of utility issues confirms the previous beliefs that the whole market looked as though the climax had not been reached and also that we can expect higher prices. It has reached a point where there is little use prophesying the time of reaction. Wheat: Heavy prefessional and commission house buying induced strength while recurring inflationary rumours, together with active short covering advanced prices two cents above the day's lows. Cotton: Hedging and profit-taking bindered the market from making a full response to the strength of cables and foreign exchange. Demand broadened later inspired by the strength of stocks and bullish statistics Silver: Apparently the publicity given to the recent statement on the part of various delegates to the Economie Conferences regarding the necessity of silver pricen rehabilitation is tending to maintain an active demand for silver. Business Done: 5,810,000 shares.
Drv. HIGH LowPER. SEC
1039
LAST SALE
June 10. Juno 12
301
94)
3.00 Air Reduction 421 6.00% Allied Chemical & Dye
882
$84
117
1271
824
294
4.00 American Can
121
95
6
American Smelting..
30
301
137
701
9.00 American Tel.
Tel.
1234
1314
5,00American Tobacco "B" -
92
02
Anaconda Copper, Mining
171.
-187
161
281
2.00 Auburn väga mu
18.
1.60 Borden Company
Canadian Pacific.
65
JL Castin
847
89
471
13
2.00 Chace National Bank
bid 35, bid
214
1.00 Chrysler Motors gene
314.00 Consolidated Gas of NY.
601
63)
67
3.00 Drizs, Inc.
...
694
22
2.00 Du Pont de Nemours
784
3,00 Eastman Kodak
6% & Electric Bond & Share,
201
0:40 General Electric
401
2,00 General Foods
38
248
1.00 General Motors Commis
271
·ZAŁ
1. Gillette Safety
342
108
(Preferred)
154
371
227
201
04
1600
"
0.60 International Harvester.
International Tel. & Tel. 344.00 Liggett & Myers: “B
81.00 Enew's Inc.
Montgomery
2.92 Nations Bitch!
National City
bid
Thid