DAILY SHARE QUOTATIONS
HONG KONG STOCK
EXCHANGE.
HONG KONG DAILY PRESS, THURSDAY, JULY 6, 1933
MONEY
Sxive Homina
SHAREBROKERS' ASSOCIATION,
Bayers Baller
WEDNESDAY.]
Buyer Seller Wairs Newton!
JULY 5,
Banks
Do. (London) ...
$1,785
H.K. Banks
£132
214)
Chartered Banks....
£241
Morcantile Bks. "A"
£91
Do.
C
$101
76.00
$1,770
***
W
HI
NU
Bank of East Asia... 3101
N. C. & 8. Barks...
Am. O. Fin. Corp: B.
$6.40 Ch Fi.Corp. Ord. .
Do. Fret. S
Insurances
Canton InsurANONE....
Underwriters
Union Insurances ...|
China Fires
****
AND MARKETS
FINANCIAL NOTES FROM LONDON
$20 America and Silver: Callender Cable's Contracts:
$995
*$9.40
#ngs
3500
$250
$34
રાક્ષ
$30
รม
5310
$2.40
$8491| 3852)]
$595
***
$270
H.K. Fires......
$13
International Assce, 3.
Shipping
$120
Douglasea
#18
Stenniboats
130
Indos (pref.)
8321
Do. (def.)
56/3
Sheild ******
$15
Waterl-outs
$15
Mining
333
Benguete
Venezuela Gold Fida. $4.80.
$34
Kailans
33/1
$171
Langkals (single) 8.
25/.
$17
13
Explorations.
Shaghai Loans
D
$9.80
12.
$10.101
#16j
-
20.40
114
Raubs
Tronoh Mines
28 ats, Benguet Explorations
Docks, Wharves,
Godowns, ste,
H.K. & K. Wharves.
Do.
(new) ... $1 40
$130
$5,95
Providents (old) ...
31.45
H.K. & W. Docks
H
$10
$8.
S. China Motors' A
Do.
$149
#331
Shanghai Docks, S.
New Enginearings 3,
Hongkews....
Lands, Hotels, and
Buildings
H.K. Hotels ag H.K Lands. 8. $74
37;
481-
$128
$3.95
317
38
$8
$140
$7 $78
$762180
332)
Shanghai Landa...8.
$14
Metropolitan Lande..
$7.90
H.K. Healties.........
171
$141
Chins Do...
$137
Do. Debentures8.
$14
$14
$140
$20
$7
"B" 8.
Humphreya
Asia,Rosities “A” S.
Do.
Chinese Estates.....
Cotton Mille
Ewo...........8. $15
S'hai Cotton......8.
$141 Zoong Sings.......S.
Wing On Textiles(3.)
$14.90
$100
508
Tramways
Star Ferries......... $83
Yaumati Ferries..
45.18/13.20*
107
THE
8144
198
141
Public Utilitie
$11.80
HA
$1
372
Poak Teams (old) ....
Do,
***
$15
(new)...
376
$2
129
$281
313
China Lighte (old)...| $13;
$1.
Do. (new)... $12
H.K. Electrica... $73
$13
Macao dosper
8104
Sandakan Lights...
23-J
Telephones...tolat
130,20
8111
China Buses. S.
1/-
Tractions
13'-
10. (pref.).....
Industriais
SIA
Malabon Sugars
320
Caldbeck, ord.) 8.
$16
Macgregors prof.)8.
$6
Canton Icester
363
Cements (comb.)....
76.90
16
Do. (old)...
15
$1
$9
Do. (DOW)... Ropes
$11
19:
$38.16 $29.40
Dairy Farrua
$29
#1
Dor A Wing..
$121
Amusements...
$12.08)
Ch. E'tainment........
$3.90
$4
$1
84.50
prem.
$21
Miscellaneous
Constructions, (old)
Do.
(new)
Lane Crawforda.....
Mackintoabscess
Nanyang Tobecoo.....
Sinceres ******
Watsone ..
$14
32.10
W. Powells
$10.
M. Greyhounds....
$8
8. 0. Enterprises...
United Theatre...8..
ILK. Govt. Los... 2
Wallace Harper.......
China Sporta Ltd....
77, B. Ind. G. Bands... 76%
$188
H.K Wing O......
S'hai
Do
$15
Du eta $1,40
Businessman on Recovery: G.E.C.'s Profits
Maintained: Silver and The East, Tokyo Electric's Earnings
(Special Air-Mail Service}
SILVER'S FUTURE
LONDON, June 92. While it has been rumoured for some time that the American debt payment might be liquidated in part by a transfer of silver, the actual announcement evoked con- siderable interest in the bullion market yesterday.
The powers which were conferred on the President to accept a pay. ment in silver were included in the Farm Relief Act, and were framed specifically for this contingency of war debt payments. since they run for a period of six months only from the passing of the Act, which was May 12, Unless the powera are extended there any other occasion on which a payment in silver can be, made,
be
no
The possibility of an indefinite number of such transfer with its stimulating effect on silver may thus be ruled out, though the issue
entered upon an ascending curve,
Recovery, in his opinion, is cer- tain to be slow, and there are sure. to be considerable fluctuations. "These factors." he added, "lie outside the ambit of our control. The most that we can achieve is to meet as efficiently us we may each emergency as it arises and con- stantly to endeavour to better the organisation of the company. By this means alone can we hope to secure that when prosperity re- turns we shall be in the best pos-. sille position to avail ourselves fully of our opportunities." is sound industria! philosophy, which is likely to stand the com pany in better stead than the over- reliance upon Government assist- ance which has become so deeply ingrained in certain sections of industry.
G.E.C.'S DIVIDEND
This
The
liminary figures issued last night show that the profit amounted to 130 in the previous year. £1,012,739, compared with £1,037, directors have apparently decided to continue the conservative policy. adopted last year, for although the net earnings are equivalent to roughly 16 me on the Ordinary shares the dividend is maintained at 8p.c. for the year.
In spite of difficulties in the ex- of silver certificates and the coin- port trade, the General Electric age of silver in America in pur-Co. succeeded in practically main- suance of the President's powers,taining. its profits last year. Pre- was doubtless intended to encour age the greater use of the metal.
The reasons advanced yesterday for the strength of silver pro- ducers' shares and the rise in the price of silver, may have been based erroneously on the belief that a new era had opened for silver. Actually, the silver will be trans- ferred from the Indian Govern ment's silver reserve, where it has been held, to the U.S.A. to increase the supply of silver coinage in Amerien. As the Indian Govern. ment will not replace the silver which it has sold, no benefit ac- crues to the silver mines or those undertakings which produce silver as a by-product.
· A BETTER OUTLOOK!
A year ago, £130,000 was added to the reserves in view of the un- certain outlook and presumably a further substantial transfer has been made on this occasion. The June 8. anaual meeting will be held on
BOOSTING SILVER .. The Executive Committee of the Federation of British Industries passed yesterday the following re solution, which has been forwarded to the Government.
The continued depreciation in the value of silver," which has been for centuries and is still extensive" ly used as a means of storing wealth in India, China, and other parts of the Far East, has played such an important part in reduc-
At yesterday's meeting of Cal lender's Cable, and Construction Co., Sir Fortescue Flannery, the chairman, "in elaborating the re marks of the directors in the annual report, claimed for the company a leading position as pioneers in electrical development. He explained that the special re- serve fund of £200,000 established to meet contingencies in experi-ing the demand for the products mental work had been more than sufficient to cover the immediate cost of renewals and replacements. The drop of £93,000 in expenditure on uncompleted contrasts, he said, did not indicate a falling off in work, but was due to the fact that in connection with large contracts for overhead work there happened to be less uncompleted work than at the end of the previous year. -
Sir Tom Callendir, the manag- ing director, who reviewed the pro- gress of the company's business | described the outlook as better and more assured than it was a year ago. More orders are being placed. and they are orders of a welcome 318.80 kind, since they tend to bring in $94
other cables in the future. Prices, 31.50
however, are wretchedly low."
CAUTION AND ENTERPRISE
$2
$190
The blend of caution and enter- prise which have helped to build up the greatness of J. & P. Corts, the famous cotton thread combine, was admirably typified in the chairman's speech at the annual meeting yesterday. Referring to reports of visible improvement in business, Mr. J. O. M. Clark enid SUNDAYS & HOLIDAYS that the company's own figures for the present year did not bear out the suggestion that trade had
LOCAL, AND BEGULAR OUTWARD MAILS,
Canton ...
A
WEEK DAYS,
FROM Q.P.O.
FROM
BRANCH PO.
FROM G.P.O.
FROM SASUNGWAN BRATOR P.O.
§ 7,15 km, &] § 7,00 Km. 16,00p.m.
17.00pm.
Samahui and Wnchow (Br}|| 4.00 p.m.
1
direct steamer)
7,00 am & 17.15 am, & 15.00pm.17.00 p.m.
4.00 3.
· 4.00 p
1,00 1,2,
Maczo & Twinshan
H
7.15 m. 17,80 m). **{1.15 Jun 11,80 p.m.
6.00 p.m. 6.00 p.m.
(8.15 am. & (850 mati, #
1.15 p
1.80 j Sundays Banday 8.15
8.30 only
Lonly: 6.00 pm:
$6.00 p
8,00 x
7.15.m.
7.15.10.
* Zongmoon (except Eaturdays)| | 6.00 p.m.
Kankong (except Saturdays)
Estahan and Wochow (By}
Train)
IND
Tai Fo
Eburchun
Chenngohow
***
ре
Bhatankok and Sheung
1.00 p.m. f£,00 m,& £8.00 p £9.00 am. &
*** 18.00 p.m«
1.00 p.m. &
16.00 pe
Aberdeen
8.00 $
MO
144
Stanley
+
Auta
12.30 p.. 8,800
*
Pingahan, Santia
Thatin,
8.00 pm.
Faikung ...
Famtac Brekk, '& Taiping
4.80 p.m
7.00 p.im
11.00a.m.
9.00 $..
11,000,
(11.00 B $25.00 pm.j
8.00 0. 11,00 B.80 m,
10.30.
10.80 $0.
7:00 pm
of manufacturing industry in those markets that, in the opinion of this committee, his Majesty's Gov- ernment should be strongly urged, at, the forthcoming World Econo- mie Conference, to give every en- couragment to any practicable pro- pusals for raising the value in re- lation to gold, and promoting the stabilization of silver.
HONG KONG STOCK MARKET
YESTERDAY'S OFFICIAL
QUOTATIONS
Further firmness was displayed by Banks and 'Unions, and prob ably higher rates than those quoted in the official list would be paid if any shares are forthcoming..
Hotels and Cements were again the centre of activity, and «some fair-sized parcels changed hands both for cash and forward.
Bales.
Hong Kong Banks 81,785. Hong Kong Lands, $769/78,50 Telephones 830,
Buyers.
Bank of East Asia 810L. Union Insurances $312). Raube $10.10. Docks 8161, Hotels $11.
Hong Kong Lands $701. Realties .00
Ewo Cottons Sh. $11.00. Hong Kong Trams $29, Star Ferries $82. China Lights (Old) 813. Electrics $731. Telephones $201. Cementa (Combined) 867. Dairy Farms $25.10. Government Loans 31 per cent.
premium.
Sellers.
Union Insurances 85321. Yaumati Ferries $28. Dairy Farms $28.40. Watsonk $10.
Entertainments 8114.
LONDON. EXCHANGE
RATES
[BRITIJA WIRELESS SERVICE.]
Paris New York
Montreal
Brussels Geneva
Amsterdam Milan Berlin
13
president liners
@a11* 1,5.91,000 min 1 1 0
Weekly Sailings Transpacific
To San Francisco, Los Angeles & New York
via Panama Fortnightly sailings on Wednesdays Pres. Hoover ... ...July 18, Midnight Pres. Grant
...............Aug. I Pres. Coolidge...... Pres. McKinley Pres. Hoover.
Aug. 18 .......Ang. 30 ......... Sept. 13
To Seattle and
Victoria
Fortnightly sailings on Saturdays Pres. Jackson July 7, Midnight Pres. Jefferson.... July 21, Midnight Pres. Cleveland .............Aug. 11 Pres. Jackson.Aug. 25 Pres. Jefferson..........Sept. 8
ROUND TRIP FARES TO EUROPE & AMERICA. Special through rates to Europe via United States, Direct connections with all Atlantic lines, Choice of rail lines soro United States and Canada, liberal stop-over privileges for Sight-seeing. Full particulare apon application.
Fortnightly via Suez to Europe & America
Fortnightly sailings on Saturdays via Manila, Straits, Colombo, Bombay, Suez Canal, Alexandria, Naples, Ganna, Marseilles, New York and Boston,
8 a.. Pres. Bayes....
Pres. Van Boren .....Aug. 19 ...July 8 Pres. Pierce....... July 22 Pres. Garfield ........................................... Sept Pres. Mource.............Aug. 5
MANILA
TO
Next Sailing
Proa. Hoover
Pres. Jefferson
July 15
Pres. Fierco.............uly 22
Pres, Grant.............
..July 25
9 a.m.
Pres. Hayes July 8, 8 a.m.
Prea, Monroe...
Pres. Cleveland.........
. Pres. Van Buren .......
Aug.
Aug, 5
...Aug.
'10
Connecting with 8.8. MAYON TO DEBU, ILOILO, ZAMBOANGA
DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE
FEDDER BUILDING-HONGKONG.
CANTON BRANCH-4, SHAXEX ROAD.
NEW YORK STOCK EXCHANGE
ASIA LANDS, LTD., QUOTATIONS
(INCORPORATED IN HONG KONG.)
Tel. 26380-Gloucester Building, Room 300.
[RECTER'S AMERICAN BRRVICE}
Rugby, July 4,
85 3/16
4.491
.4.803
24.02
17,40
8.31
037/10
14,14
Stockholm
19.42
Copenhagen
92.40)
10.80
New York: July 3. Dow Jones Averages:
31) nom.
30 Industrials
113
20 Raila
Helsingfors Madrid
9201
20 Utilities
401
40 Bonds
Lisbon
110
590
3721
250
4 nom..
Oslo
Vienna Prague
Athens
Bucharest
Belgrade
Rio
Buenos Aires Montevideo Bombay Shanghai Hong Kong. Yokohama Silver (Spot) Silver (Forward)
414 O.R.
31 nom.
1/8 1/18
No rate 1/4 27/32
1/3
182
19
THE EXCHANGE
MARKET
MESSRS. ROZA BROS. REPORT
LLS
Mesars. Roza Bros. have forward- ed the following exchange market report for yesterday:
Silver prices were again higher yesterday to the extent of 5/18 for Ready and Forward, the quotations being 18.7/8 and 10 respectively. Silver advices reported China and India as having bought. were holding back. The tone at the close was steady. The New York market was closed yesterday.
Sellers
NO DIVIDEND According to telegraphic advices received from Japan by Messrs. Lazard Brothers & Co., agents for the bondholders, the receipts of the Tokyo Electric Light Company for the half-year ended May 31 amounted to 50,700,000 yen, com- pared with 68,200,000 in the pre- vious half-year. At the same time general expenses were reduced by 2,300,000 yen. Owing, however, to the depreciation of the yen. the ser- vice of the external debt and the provision for depreciation absorb- ed larger amounts, the increase in the cost of these two items during the Inst half-year, compared with the six months ended November 20, being 2,120,000 yen and 6,125,000 yen respectively. Hence the com- pany was left with a net revenue of only 340,317 yen, against
There were sellers after the open- 4,812,894 yen for the preceding sixing at 1/4.15/16, buyers bidding
(Continued on next Column)
Asia Lands Limited
Gloucester Building
Tel, 28880
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.
Tel. 13624
New York/London cross-rate were quoted as follows-The open- ing rate was 4.49) and the closing rite was 4.52). The highest rate wha 4.53.
High-1932
100.92.
49.78
37.50
86.40
Low: July 1.
41.22 100.02
13.22 40.76
16.63 34.03
05.78 86.40
Change
July 1. 103.77 2.86 up. 63.38 3.00 up
30.45 1.53 up
80.74 .34 up
Asia Lands, Limited, bas received, the following report from their New York correspondents, E. A. Pierce & Co. The President's statement. to the Economic Conference that it would be time to talk of currency stabilisation when the nations 'balanced their budgets; added fuel to speculative ambitions. Railroad epuipment issues and oils were the leaders, while the bond market also showed pronounced strength. Winnipeg private crop estimates are very bullish, showing the smallest yield since 1890, thereby amply confirming everything the trade anticipated.
The President's rejection of the the Gold Standard Note was a factor help. ing all commodities. Cotton: There was a broad demand early in the day, encouraged by strength in securities, and gains on optimistic trade reports and general business advances. This attracted a decided increase in realising, which continued more or less for the balance of the day. Late selling was attributed to the statement appearing on the ticker to the effect that some scepticism is felt by official regarding the success of the acreage reduction planned.
We believe that purchase in easy spots will prove profitable.
Business Done: 6,720,000 shares.
189
Canadian Pacita
40.50 Caterpillar Co.
3.00 Chase National Bank
1.00 Chrysler Motors
3.40 Consolidated Gas of N.Y.
Curtiss Wright
3.00 Druge, Inc.
2.00 Du Pont de Nemours
3.00 Eastman Kodak
6% a. Electric Bond & Share......
LAST SALE
1932
Drv. 8
HIGH Low PER, 8,
July 1. July 3.
92)
30%
3.00 Air Reduction ...
(02) 883
129)
42)
6.00 Allied Chemical & Dye
1201 133
293
4.00 American Can
93
36
5
American Belting.
358
37
1378
70+
9.00 American. Tel. & Tel...
129
131
93
44.
6.00 American Tobacco "B"
po
911
40
11
1.05 American WaterworksTM
30%
10g
Anaconda Copper Mining
38
197
1074
281
2.00 Aubura
CB
69
19
42
Bendix Aviation
10
101
43
18
1.60 Borden Company
30A
30
20
71
IBA
19
162
Case
005
24,
254
.24)
47t
178
20 xd 30 bid
36%
5
381
34
61
23
93+
877
321
Electric Auto-Lite Co...
Electric Power and Light...
12%
1/4.31/32. A small business was reported at 1/4.15/16 followed by transactions at 1/4.31/32 for July and 1/5 August. The market closed with sellers at 1/4.31/32 July- August, buyers at 1/32 higher res pectively.
28
84
0.40 General Electric
24
401
198
1.80 General Foods
371
71.00: General Motora
301
-31
30
24+
101
10 Gillette Safety.
147
́-152
24
81
1.20 Gold Dust...
24
434
10:
0.00 International Harvester .....
40%
7.00
113 bid. 116:
113
13.
18
Gold Dollars.
107
34
4.00 Liggett & Myers "B"
942
&
1.00 Loew's Inc........
371
201
xhx
*
2.60 National Biscuit
68
181
1.00 National City Bank
35 bid 35 bid
312
104
1.20 National Dairy Products
0.00 Otis Elevator
37
18
2.00 Pacific Gas & Electric
Steady,
Market...
Sterling.
Business was done early in the morning at all for August followed later by transactions at 31.0/16 August, The market closed with 'sellers at 31 July and 311 August, buyers at 1/16 higher;
Yen. Merchants were quoted at 1124 for near delivery.
Shanghal, Steady. Seller were indicated at 1/3 near, buyers at 1/3.5/16 July.
Shanghai Dollars. Shanghai dollars were quoted at
111.
months, and whereas previously & half-yearly dividend at the rate of 2 per cent. per annum was paid on the share capital of 420,562,000 yen, no distribution is now pos- sible. The balance carried for ward in raised from 5,218,392 yen to 5,531,009 you.
31+
38
194
.143
50%
48
(Preferred)
International Tel, &-Tel
Montgomery Ward
845 04
234247
57 581
272
24-24
18%
38
i
Packard. Motors
0.50 Pennsylvania Railway
Radio Corpn.
Sears Roebuck
1.00 Standard Brands
Standard Gaa .......
1.00 Standard Oil Co. of New
Jersey "Socony-Vacuum Corpn.
1.00 Texas Corporation
Trans-America
1-15400, 1.00 -. Union Carbide & Carbon ....
2746.00 Union Pacific..........
United Air and Transport..
0.40 United. Corporation
United States Steel. Westinghouse B&K