DAILY SHARE QUOTATIONS
HONG KONG STOCK
EXCHANGE.
SHAREBROKERS'
ASSOCIATION.
Buyer Bra
Salse Nominal
TUESDAY. AUGUST 8.
Лотк
Bellary
Banks
$101
+
216 2241
ED
ux d . $1,810
fox div. £1201
$20
H.K. Banks
Do. (London).**. Chartered Banks - Mercantile Bis "A"
Do
Bank of East Asis...
N. C. & S. Barks
• Arb. O. Fia. Corp:
140 Ch Fin. Corp. Ord. S. 76.00
Do. Prof. S
Insurances
Canton Insuratices......... Underwriters.****** Union Insurances ........ China 'Fires
International Asace. 3.
Douglasts
Steamboats,
Indos (pret.)
Do. (def.)
F
$1,830
£13
· £24
£91 $10!
$7
$310
*
$2.05
3546
$310 1:0
7850
$350/558
Soua
$276
H.K. Fires
$6.23
Shipping
13+
$32
$18
21x 330
$30
$10
1321
30 711
$15
Shella...... Watertoata
68/
$18
Mining
1301
Benguet
| $35
45
Venezuela ficld Fids. $4.80
Kailaus
.28/0 $18
14
Explorations...... B.
Langkata (single) 8.
$4
Shanghai Loans S.
!!!
-83.40 $10
་་་
Rauba
Tronoh Minos...
28 eta Benguet Explorations
Docks, Wharvos,
Godowns, sto.
$1231 H.K. & K. Wharves.
Providente (old)
HONG KONG DAILY PRESS; WEDNESDAY, AUGUST 9, 1933
MONEY AND MARKETS
FINANCIAL NOTES FROM
LONDON
Mr. Soong And British Bond Holders: The Dorman Long-South Durham Amalgamation; Empire Currency Urged; Japanese Finance And The City.
(Special Air-Hall Service)
STERLING THE MASTER
CURRENCY
LONDON, July 18, Sir J. Wardlaw Milne, M.P., speaking at the Royal Empire So- ciety Summer School at Oxford said:
"Sterling is the master currency we sit of the world to-day and here in this country without the guts to put it over and make 1 clear that it does not matter damn what other countries do.
There is nothing to prevent us $163 setting up an Empire currency system. All the sterling countries must follow suit, and in the end it will bring in all the other na tions of the world."
25/.
$9.60 19/-
.3199
83.20
$3.70 $3.80
$1.40
'Do. (ver)...
F1 40
$165
H.K. & W. Docks
$17
$10
S. China Motors * A')
301
18
$142
I
$143 Shanghai Docks 9.
#71
New Engineerings8.
#339 Hongkow .........
Lands, Hotels, and
Bulidings
H.K Lands...... 8. 978
37.05 6.96/7
$7.00 R.K. Hotels
$78
$37
Shanghai Lands...8:
$14
Metropolitan Landi..
JENG
H.E. Realties.......................
$13
Chins Do
3137
Da Debentures3.
$14
Humphreys
*******
་་་
New Asia Hotel
$140
Asin Realtion "A" S.
$20
Do.
3.7
Chinese Estates.
Cotton Mille
315
Ewos
$148.
$141 Zoong Singe S.
$90
Public Utilities
$106. Susi Cottans......S
Wing On Tertiles(S.)
Framways
Poak Trains (old)....
Tractions vis
Do,
*
⠀
L
لدتي
18
$14 $534
*108 ***
180
#30
$22
315
$131
Da (new)
371
Star Ferries
FOR
3251
Yaumati Ferries. ...
$25
312
China Lights (old).......]·$123 | $11.95
$12.35
"Do. (new)... $19,35
$74
H.K. Electrica
174)
$23
Macao do.
$104
Sandakan Lights ...
$30
30.10
Telephones...
$112
China Busos ...... S.
25/-
(pret)......
Industrials
$15
Malabon Sugars
$16
194
$20
Caldbeck, ord.) &
Jas
318
Macgregor (pref.)8.
$3
Canton Ico
$6
16.10
Cements (comb.)...
16
16
Do.
$5
$1
83
$8
$20
$231
*
$1
Der A Wing................
Amusementa
311
Ch. Etainments..............
$111 $11
$3.90
Constructions, (old)
$31
Do.
(new):20 cts
53 90 $21
beyda
***
19
$13.00
Watsons TERIGADEO
$2.10
Wm. Pawells
$1.60
$10
M. Greyhounds
Pay
(3)
8. C. Enterprises ...
32
United Theatre „și 8.
77, Ind. G. Bonds.... 77.
prem. 3
$8
H.X, Gort, Loans.......[ $103 jar int. -Wallace Harper
H
$180 B Wing On «*
8190
S'hat Do
$165
.83 ota
$1.05
Do..
Ropes...
(old)... (new)...
Miscellaneous
Dairy Farmarestias,
Lane Crawfordi...... 35
Mackintoshs
Nangang Tobacco.
Sincöres...LEAS
Mr. L. S. Amery, M.P., discuss ing Empire problems, said that sooner or later we should be driven to an Empire shipping policy of retaliation to subsidies by counter subaidies" or, more probably, the reservation of the coastal shipping of the Empire to ships carrying the British flag..
| JAPANESE RELATIONS,
WITH THE CITY
A luncheon party was given at Claridge's by Mr. Juichi Tsushima, Financial Commissioner of the Japanese Government, and a mem- ber of the Japanese delegation to the World Economic Conference, at which were present delegates and members of the Japanese delega tion and members of City firms and banks interested in Japanese 'finance,
11
for the reason. every possible step, should be taken to avoid such eontingency.
CHINESE “MARCONI” AND
"VICKERS” LOANS
His
ロー
The joint committee represent- ing holders of Chinese Government Eight per Cent. Sterling Bills (Marconi issue) and the Eight per Notes Cent. Sterling Treasury (Vickers issue) announce that they have had an interview with his Excellency, Dr. T.." Soong, vice- president of the Executive Yuna and Minister of Finance, at which they stated the case on behalf of the bond and note holders. Excellency, in reply, pointed out the conditions which had prevailed in China for years, past, and re- ferred to the fact that the Chinese Government had convened a ference of their foreign creditors about two and a half years ago, but that nothing had been achieved towards a settlement owing to the distress caused by the floods and also the military operations by Japan against China. His Excel- lency, however, assured the mittee that he would not rest until the finances of China had been placed on a sound and solid basis, under some scheme of settlement which would include all loaus that are at present in default, His Excellency indicated that it did not follow that each set of credi tors would be treated alike, but that the creditors, for commercial loans raised for the purchase of materials, such as those represent- ed by the committee, would pro- bably receive more consideration than certain others not of this class.
com-
The committee was assured by his Excellency that the accepted policy of his Government is to arrive at
In a speech welcoming his guests Mr. Teushima said that it was a source of pride to the Japanese Government in being able to count on the strength and ready.co
aatisfactory settlement of all operation of the British banking claims and of the finance of China group in its international financial generally at the earliest posible relations whenever necessary Dur-moment, and in this connexion he ing the last 18 months the Far referred the committee to his Eastern situation had been watch-speech made at the Economic Con- ed with anxiety in every financial ference, which was reported in The market of the world, but the Bri- Times of June 18. tish market had never failed to
preserve confidence in Japan's
HONG KONG STOCK MARKET
YESTERDAY'S OFFICIAL QUOTATIONS
A distinctly quiet feeling prevail ed on the resumption of business to-day, but the investment section continues to attract, attention when anything is offered slightly below the official rates. On the other hand, Hotels and Cements show no signs of any revival.: Salos.
Union Insurances $350/555. Hong Kong Lands 8781. Star Forries 806,"· Telephones 830.10, Dairy Farms $201,
Government Loans 3 per cent.
Premiuni,
Buyers.
Bank of East Asia $101. Canton Insurances $310, Union Insurances $350, - Underwriter! $1.90. Douglases $321. Indo-Chinas (Def.) 832). Hotels $6.95.
Hong Kong Lands 878. Hong Kong Trama $22.70. Peak Trams (Old). $15į, " Star Ferries 895.
China Lights (Old) $1870, Electrics $741. Telephones 830,
Singapore Tractions 2/-
Singapore Tractions (Pref.) 15/-, Hong Kong Ropes $8. Dairy Farms "$££40. Amusements 811 Constructions (New) 85 cents. Government Loans 33 per cent.”
Premium.
Sellers.
Hotels $7.08. Realt'es $8.10.
Ewo Cottons Sh. $15. Dairy Farms 829). Sinceres $13.60.
THE EXCHANGE MARKET
MESSRS. ROZA BROS.. REPORT
Messrs. Roza Bros. have forward- ed us the following exchange market report for yesterday
Silver prices were unchanged over the holidays, the quothiens remain- ing at 17:7/8 for Heady nad 18 for Forward.. Silver adv.ces reported China as having bought. The Cou-
determination and ability to win OPPOSITION TO BIG STEEL tinent sold. There were buyers at
through her difficulties. He notic- ed with satisfaction the present |
MERGER
יו.
quotations. Business was small. in America the price of Silver was trend of Japanese bonds in the There is criticism in some quar. quoted at 38.3/18 for near delivery. New York advices reported the London market. The present price ters of the City of the terms of of the Six per Cent. Japanese the conditional agreement for amal- opening rate at 4.48) and the clos- Government Sterling bond, quoted gamation between Dorman, Longing rate at 4.471. at 01, represented an apprecia and Company and the South Dur- tion of 3 points over the price ham Steel and Iron Company. issued to the public and a recovery
mand.
Market...
Sterling."
F
Business was arranged soon after the opening at 1/4.15/16 for cash followed by transactions at 1/4. 29/39 for rear and 1/40.7/8 August. The market closed at lunch time
with sellers at 1/4.27/32 August, 1/4.7/8 September and 1/4.29/32 October, buyers at 1/4.7/8 for cash, 1/4.15/16 September and 1/4.31/32 October.
41
Gold Dollars. Business was dons at 31.3/4 for cash and 31.13/16 for second half August. The market closed with sellers at 31.11/16 August and 31. 13/18 September, buyers at 1/18 higher respectively.
Uncertain at the opening but On July the terms of the pro- later eased off owing to a fair de- of more than 30 points from the posed merger and capital recon- low record price. Japan had never struction. were announced, so that defaulted in her foreign obligations holders of the various securities for 2,583 years-i... since the concerned have now had time to foundation of the Empire. He as- consider, their position, sured his guests that the Japanese "Opposition to the scheme comes Government would do ita utmost mainly from the holders of the 5 to maintain the confidence which per Cent. First Mortgage redeem- its credit had always enjoyed able debenture stock of Dorman, abroad, and be earnestly hoped Long and Company. There is that his British friends would £5,228,791 of this stock outstanding, show continued close interest in, enjoying prior charge status apart and profound friendship with, from a small block of £400,000 $4.15. Japan.
First Mortgage Perpetual deben: last $13.80 Viscount Ishii reviewed the pro bare stock. In each of the 891 bleme and the difficulties of the two years, however, the interest Monetary and Economic Conference has not been covered, by the com- in a thoughtful speech, in which pany's earnings. he showed how important, it was for the welfare of the world that tion scheme it is provided that Under the proposed amalgama it should succeed. History, he Dorman, Long 5 per cent, deben- said, indicated that military opera- Eure holders surrender 10s out of tions were often undertaken to each #1 of stock, and receive, in defend an economic interest or to respect of each 2100 of stock now secure an economic advantage. He held, 30 6 per cent. El perference 1120 for cash. did not seek to underestimate the shares and 30 preferred "ET"ordin- difficulties of the Conference, but are shares in the rep merter.com"Easy, Early advices indicated Later the selling sellers at 1/3 explained that if the Conference pany. SUNDAYS & HOLIDAYS | were allowed to fail the
Some holders are critical of these rate receded to 1/2.15/10; buyers sult might be economic chaos, and (Continued at foot of next column) probably at 1/3 August FEOX SawowɑWAN BRANCH 2.0.
LOCAL AND REGULAR OUTWARD MAILS,
ܪܙ
Sundays only
مالية 100
8,40, A 1.30 pm. Bandays 5,30 13
100p.m. 1.00 U
WEEK DAYE,
FROM G.P.O.
FOX BEKUKOWAN BRANCH P.Ó.
From G.P.Q.
Canton
Samabul, and Wuebow (By)
dizoot stemmer)
37.15'.m. 1,00 pezas
4.00 p.m.
7.00 23. 17.00
(7,36 km, & | | 7:00 am, & {5,00 p
11.00 p
4,00 pls.
1,00 Fathe
r8.25
1.16 p.m.
Macao & Tinsban
ƒ7.15 0.003. &{ ƒ 7,30 1, 11.15 p.m.
Zɔngmoon (except Saturdays) Kantong (éroept Babardays) Entahan and Wuchow (By)
Train}
6.00 p.m.
11.30 p.m. 5.00 p.m. 6.00 p.15
B.15.
6.00 ..
7.15 m.
tai.
Zalt Battle
∙1100 m
9,00
Tai Po
∙11.00€
Shumchun
$11.00
Cheungchew
Aberdeen.
Pingsham,
100p.m.
9,00 sah 8.00 pin
8.00p.m. 1.00 p.m. 4
16.00 patie
48,000 11.30 p 8,800.
4.30
& 8.00 pm.
:8:00 AM :
·1100 king 8.80 1.17,
•1020
10.80 $3,
7.00
re-L
Asia Lands Limited
Gloucester Building
Tel. 28980'
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 Agente :
John H. Ferguson & Co.
32, B. C. Shax
PRESIDENT
Liners
Speed with Comfort,
To SAN FRANCISCO 19 Days vla Shanghai, Kobe, Yokohama, Honolulu
Fortnightly sailings Pres. Coolidge Prea. McKinley
Pros: Hoover Pres. Lincoln..ri Pres. Coolidge Pres. Wilson,
To VICTORIA, SEATTLE 17 Days
via Shanghai, Kobe, Yokohama
Fortnightly railings
Pres. Oleveland .....Ang, 17, Midnight.
...........Aug. 10, 6'a.m.
Aug. 30
Pren. Jackson
Aug. 25.
Bept 13
Pres. Jeffersonej
Sept. 8
Sept. 98
Pres Grant.
Sept. 22
Oct 10
Pres, Claveland ...
Sept. 30
Oct. 24
Pros Jackson....... Och Hoá
ROUND TRIP FARES TO EUROPE & AMERICA.
Direct Special through rates to Europe vin. United States, connections with all Atlantic lives. Choice of rail lines across United States and Canada, liberal stop-over privileges for Sight-kecing. Full particulare upon spplication.
Fortnightly via Suez to Europe & America
Fortnightly sailings on Saturdays via Manila, Straits, Colombo, Bombay,"" Suer Canal, Alexandria, Naples. Ganda, Marseilles,
Prea Van Buren Prex Garfald. Pres. Folk
New York and Boston, 's
B
Aug, 19 - Pres. Adams ra Sept 9.
Pree, Harrison Sept 18
Fres. Hayes
.•Sept. 31.3.
Oct 14 Oct 28
TO MANILA
i
Next Sailing ...... Pres. Van Buren Aug. 19, 8 a.m. Next Salling.........Prés. Jackson Aug. 19, 6 p.m. Pres. McKinlay.Aug. 21 Free Boover... Pres. Garfield Sept. 9. Free, Folk Pres, Jeffèrgon ... Sept. 2 ́- Pres. Grant.
Sept. 3- ..........................Sept. 16- ...... Sept. 16
Connecting with 8.8. MATON T6 CEBU, ILOILO, “ZAMBOANGA ... ·
STEAMSHIP
DOLLAR AMERICAN
LINES
MAIL LINE
FRODER BUILDING-HONG KONG. CANTON BRANCH:-4, SHAKEE ROAD.
NEW YORK STOCK EXCHANGE
ASIA LANDS, LTD., QUOTATIONS (INCORPORATED IN HONG KONG.)
Tel. 28360-Gloucester Building, Room 308.
(BRUTER'S AMERICAN SERVICE]
New York: August 7. Dow Jones Average:
20. Industrials
20. Kaila
20 Utilitica
40 Bonds
High-1032
1108.27
Low: Aug, 4. Aug., 7. Change
41.92 92.62
9166.07 down
56.53
13.23 46.77:
46.69.08 down
16.53 30.73
30.04.88 down
68.75 87.91,
-87.83,02 up
37.73 80.07
Asia Landa, Limited, has received the following report from their New York correspondents, E. A. Pierce & Co. Frankly, comment on the market is difficult. The street appears to be bearish rather than bullish but most bearish expressions are apparently lacking concrete foundation. It seems that more than talk is necessary to depress the market seriously below the present levels Wheat: Featureless. Trading has been light. Commission homes liquidated on rallies. The smaller European requirements, plus light increased hedging are tend- ing to discourage bullish enthusisam. Cotton: Erratic.. Early in the day values declined on long liquidation but rallied later on purchases of about thirty thousand bales for March and December. Later the market eased on increased lang, liquidation. The average guess of t seventy-six members of the New York Cotton Exchange on tomorrow's cotton production report gives: 10,698,000 bales, (Acreage revision included). Silver: Quiet
Business Done: 770,000 shares.
1932
Div. $
HIUN
6,00 Allied Chemical & Dye
0.50 Caterpillar Co.
LAST BALE
bid
Low PER. SH
Aug., 4 ̈ Aug,.7.
101
30%
3.00 Air“ Reduction.
$95 $904
117
1311
42
90g
4.00 American Can
841
40%
American Smelting
0333
1378.
70
9.00 American Tel.
Tel.
1234
44
3.40 American Tobacco “B
85
86)
40
11
1.00 American Waterworks
284
181 Anaconda Copper Mining....
16!
1834
284
2.00 Auburn
53
901
Bendix Aviation
15
43
18
1.00 Borden Company.....
Canadian Pacific
U
Merchants were quoted at 115.3/4
Yen,
for near delivery.
Shanghai Dollars. Shanghai dollars were quoted at
Shanghai, na
yug
J. I Case
476
87
2,00 Chase National Bank 1.00 Chrysler Motors are ~3.40% Consolidated Gas of
Curtis Wright up you $3.00 Drugs, Inc.
***
45
2.00 Du Pont de NemouZS
351
3,00 Eastman Kodak ...............
mutilated
Electric Auto-Lite Co
2
•6% ». Eindtrip. Bóna á Sharė, Jam Electric Power`and Light..
કર્મ
IN THE AFTERNOON.
84
0.40. General Electric...
22-3/8
104
1.60 General Föcat
401
The market was easier in the afternoon.
1.00 General Mõnizk
33
Sterling.
10 1. Gillette Safety LK 18-1.203 Gold Dusts,
13
134
0.80 International Harvester
International Tel
341 "81"
4.00 Liggett & Myers
271
1.00 Loew's Ingmaga
Montgomery Ward
201
318
In sterling business was done at 1/4.20/32 for September delivery, finishing with sellers at 1/4.27/39- near, 1/4.7/8 September and 1/4. 20/32 October, buyers at 1/4.7/8 September and 1/4:29/32 October, buyers at 1/4.7/8 for near, 1/4.. 20/32 September and probably 1/4, 18/16 October.
Gold Dollars. Business was done at 314 for near delivery, finishing with sellers at 31.9/10. August and 31.11/16 Bép tember, buyers probably at 31§. for near and 31.13/16 September.
terms on the ground that in front of their debenture holding in the merger company, there is to be issued 22,230,000 of 5 percent, prior lion stock, and further, that they are asked to waive their right to repayment on May 1, 1983
"Meetings, to approve the merger scheme are scheduled to take place on July 7 st Bouthern House.
"230" National Biscuit '
18.57 1.00 - Natjons) City Bank
1.20 National Dairy Products 0.60 Otis Elevator
2.00 Pacific Gas & Electric
Packard Metors
0.50 Pennsylvania Railway
Bio Corpp Beurs-Roebuck Standard Bedardi
1.0001 CERE: Corporation
$1,00% Union Carbide &
6.60 Union Pacie
United Air and 0,40 United Corporati
United States Stee Westinghouse EZ
40%
115224116..
51
514
rible mutilation.