Hong Kong to San Francisco.
and return... US$450,00
Nominal
DAILY SHARE QUOTATIONS
Hong Kong Stock
Bayar Ballora
Exchange
Sharebrokers'
Association
MONEY AND
THURSDAY. MARCH 1.
Bayen
Sellare Balne
H.K. STOCK
Banks
The
$1,785,
K. Banks .......
$1,780
MARKET
£138
Do. (London)...
218
Chartored Banks...
216
g28
£13)
Mercantile Bks "A"
Do."
£26
213
Oh
500
Bank of East Asia
395
Amsterdam
N, C. & S. Barko ...
se!
$20
Am. O, Fin. Corp: 8.
Ch. Fin. Corp. Ord. .
35
Do. Prof. S
Insurances
Canton Insurancos..
$320
$310
Underwriters .......
$1.35
313
$1.35
Unisa Insurances...
$580
2370
China Fires
3525
est
$560 2325
3253
H.K. Firesta
$975
$6,20
International Ance, S.
Fre
Shipping
After what amounted to a vir- tual suspension of business during
the Bombay Race Days, the market at opening this morning acted rather Brüssels sluggish, but displayed a better Bucharest tone in the afternoon when there Buenos Aires were buyers of Banks, Wharves. Copenhagen Hotels and Dairies. Sales are also Geneva reported in Lands at $71, Dairies at $27 and Cantons at' $320.
Athens.... Belgrade' ... Berlin ......
HONG KONG DAILY PRESS, FRIDAY, MARCH 2, 1934.
YESTERDAY'S OFFICIAL
QUOTATIONS
MARKETS
LONDON EXCHANGE RATES
(BRITISH WIRELESS SERVICE)
Sterling Parity
.... 375 Drachmase ......... 278,318 Dinars 90.43 Marks
19.10 Florins
Feb. 97, 7.65 530 S.
Feb. 95. 7.54 530 S. 225
230
12.82)
12.791
Is éd. per Rapee 36 Belgas 813,568 Lei
1/6 3/32
21.771
515
47.58d. per Peso
38 8.0.
18.159 Kroner 25.224. Franca
22.30
15.73
Hong Kong to Victoria & Seattle
Helsingfors
........ 183. Marks, 226
1/6 3/32 21.731 510
381 8.0.
22.40
15:69
226+
PRESIDENT
SPECIAL SUMMER
13
ROUND TRIP FARES
Hong Kong Residents will be interested in the news of
greatly reduced Summer Round AMERICA and JAPAN.
TO AMERICA these rates are available on
Trip Fares to
Liners sailing between June 1st and July 31st.
return limit September 30th.
President"> Final
リ
1st Class Tourist Class
and return... US$432.00.
Hongkong
1/61
1/6 5/16
Sales
Lisbon
... 110 Escudos
1091
1091
Hong Kong to Bonolulu and return.US$360.00 -
US$240.00 US$196.00
$33
Douglases
$30
Providents (Old), $2.55.
$IN$
Stenaiboats
$79)
Madrid
330
Icdos (pref.)
$30
Hong Kong Lands, $71.
Xiao
95.99 Pesatag. 37)
02.48 Lire
37 11/32
58 9/16
58 9/16
133
Do. (def.)
Electrics, $773.
Montevideo
50.88d. per Peso
381 8.0.
381 8.0.
US$240.00
54/4
Shells.
.51/
Dairy Farms, $273.
Montres!
4.867 Dollars
5.10t
5.093
$11
Waterhosta
$11
Buyers
New York
4.967 Dollara
5.071
5.067
Mining
Hong Kong Banks, $1,785.
18.159 Kroner
19.90
19.90
Amtamoks
72 ot.
Union Insurances, $560.
77 5/32
77 1/32
SAFL
Balatcos
Underwriters, $14.
1220
1221
54 ota.
Baguio Gold
149 cts.
Douglases, $35.
$40
Leagnet Consolidated
2381
41 8.0.
30 ot. Do.
Exploration
19% свуд
1/41
30 ut Do.
Goldfield
25 otu. Big
Wedge
16" eta,
19.394 281
Gold Creek...
1/2 7/32
$7
Ipo Mining...
20 3/16
$7
Itogons
...
First Class
HK$225.00 HK$255.00
201
20/-
Kailans
16
$17 Langkats (single)
Shanghai Loans ;S.
84%
1021
Explorations......8.
714
Raabe
Tronoh Mino
107.
$81
Venezuela Gold Fida
361
Docks, WharvRE,
March 1, 1934.
LINES
Godowns, sta
#118)
78 cts.
H.K. & K. Wharved.
$119,
$2.55
Providents (old) ... #2.45
Do. •
(new)...
185 at*,
13
H.K. & W. Docks...
$14
$2
S. China Motors! A'
Do:
12.
"B"
12
$146 Shanghai Decks S.
$6.60 New Engineerings.
$145
181
sight i
1/81
ON PARIS-
Credits, four months
sight
1/7
ON SHANGHAI:--
On Demand
110
ON SINGAPORE :---
JON MANILA I—
On demand
€48
On demand
ON JAPAN:-
ON BANGKOK :~-~
On "demand
............ 19:1
ON INDIA:-
Telegraphic Transfer... Bank on demand
!!
$351
Hongkow .................
Landa, Hotels, and
Buildings
48
H.K. Hotain
38,45
$71
H.K Lands..........
$714
$24
Shanghai Lande...8.
$14
$8.30
H.K. Healties.........
$154
Metropolitso Lands.
Calis Do...
3137 Do. DebenturesS, $11.20 Humphreys .....
New Asia Hotel 1140 Asia Realtice "A"S. "B" 8. Do. Chinese Estates......
Cotton Mi
161
$13.40 118
120
187
$13
Ewon
8.
$119 Shai Cotions......S
813
Zoong Singe
S.
8131
$70
Wing On Textiles(3.) $71
Public Utiliting
$21.70
Tramways
5211
$154
#71
$71 $95
3941 $244
$2.80
$9.4
Do.
(new)... Right
$0.36
447
#771
1772
Macao do,
12
Bandakan Lights....
Telephones (old).
Do.
$25+
(new)
$12.60
#25
$15.90 Pook Trains (old)....
(new)... Do. Star Ferrise
Taumali Ferrios... $25)
Chins Lights (old)... #91
Do
HK. Electrică m
$13.40 China Buses......8.
Do.. (pret)......
Ropes
Miscellaneou
Dairy Farms
Amusements ...une (
318
5/
Tractions
15/
Industriais
3144 Malabon Sugars
$21
Caldbeck, ard.) 8.
$19 Macgregoras (pref.)8.
32
Canton Ives $2
Cements (comb.)....
82.65
Do.
(old)...)
$9.65
Do (now)...
$2.85 $9.65 $6.20
3271
$974
31..
Der A Wings.......................
$6
310
Ch. E'tainments......
$8.00
$1
Constructions, (old),
$1.90
Toall pd|80 ot.
Do. (new) 50 ctr
| 3410
Lane Crawforda.....
84.10
21
Mackintoahs some
Nanyang Tobacco... $4
$131
$13.40 Bicores ****
$1.60 Watsons
$7.40
$1.63
W. Powells
31.10
M. Greyhounds
$1
S. C. Enterprises.
United Theatres....
81%, B. Ind. G. Bonda... ED.
18
H.B. Gorb. Logas....$106
Wallace Harper
$140 EL.K. Wing On .......
+46
S'hai
Do.
$135
$130
Asia Lands Limited
Gloucester Building Tel. 26631 (Two lines)
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 Agonis
John H. Ferguson & Co.
32,
29 9. Shameen.
Tel. 18624.
Antamoks, 72 cents.
Wharves. $119.....
Docks, $141.
Providents (New), 75 cents
Hotels, $6.40.
Realties," $6.30.
Hong Kong Trams. $21.70. Star Ferries, $94. Yaumati Ferries. $24. Electrics, $77).
Macao Electrics, $231. Telephones (Old), $25). Telephones (New), $12). Canton Ices, $2
Cements Old), $2.85.
Cements (New), $2.85.
Dairy Farms, 1273
Lane, Crawfords, $4.
Govt. Loans, 8 per cent. Prem.
Sellers
Union Insuränces, $570. Underwriters, $1.35.
THE EXCHANGE
MARKET
MESSRS, ROZA BROS.
REPORT
Silver prices were
substantially
higher yesterday to the extent of 1/2 for both deliveries; the quo- tations being 20 11/16 for Ready Advices at- and 203 for Forward. tributed the rise to speculative buying and small offerings, but the rise corrected to some extent the disparity in prices of the previous day between London and New. York. China operated both ways. The tone at the close was uncer- tain, buyers being satisfied. In America the rate was higher at 484 for Spot. The market was irregu- lar.
New York advices reported the opening rate at 5.06% and the clos- ing rate at 5.08, steady,
Market Steady to firm slack.
31
Onlo
Paria..... Prague
Rio de Janeiro
Shanghai
Stockholm Vienna
Yokohama ... Silver (pot).2. Silver (forward) War Lean
191.91 Francs 164. Kronen 28.93d. per Gold Milreis
18.139 Kronor 34.58 Schillings 24.58d. per Yen
Closing Quotations
ON LONDON:-
Telegraphic Transfer... 1. Bank Bills, on demand Bank Bills, months'
ON NEW YORK
4 S.O
1/41 19.394
284
1/2 3/92
20 11/16 204
102 15/16
Bank Bills, on demand 38!' Credits, 60 days' sight.. num
ON BATAVIA:-
On demand
Bark Bills, on demand 380
Credits, 4 months' sight 620
ON SAIGON:-
Ou demand
Ún demand .............. SOVEREIGNS, Baat Baying
Rate
BAR SILVER, per os,
59
..761
1994
*
16
20.111%
CUNARD-WHITE STAR MERGER
Terms Of State: AssistanceTM
(Special Air-Mail Service)"
A Second Ship? The legislation, which is to be tintroduced as soon as possible, shall include power to the Treasury to advance to the merger company the cost not exceeding £5,000,000-of an additional new ship or additional new ships on terms analogous to those on which the advances of not exceeding $2,000,000 ars to be made to the merger company toward the completion of the construction of
634.
London, Feb. 9. Following are the terms on which come to the the Treasury is to assistance of the merger company,
The Treasury will also cause legis- which is to be formed to take over
lation to be laid before Parliament Business was the North Atlantic fleets of the
Cunard company and the White as soon as possible with a view to Star Line. "The new company is to enabling the merger company to be called the Camard-White Star. obtain identical advantages, in rea- The Government will advance in all pect of the 534 and any other ship £4,300,000 in respect of the giant of an analogous nature that may Cunarder 534 and means will be be built in future, to those which. taken empowering the Treasury to the Cuna.d company now possesses
Agreement Act, 1930. advance £5,000,000 towards an addi-la virtue of the Cunard (Insurance) tional new ship or ships:-
Sterling Opened with sellers at 1/6 13/32 with business done subsequently at 1/67/18 for cash followed by tran- sactions at 1/5 15/32 and 1/63 for cash. The market closed at lunch time with sellers at 1/8 March and 1/6 17/32 April, buyers at 1/32 higher respectively..
"
U.S. Dollars
No business was reported. There were sellers at 39 March and 391 April, buyers at 381 for near and 391 April
Yen
*
The Agreement.
The new company is to be called "Cunard-White Star, Limited," and in addition to the various vessels it is to acquire the North Atlantic goodwill of both companies includ- use of "Cunard" and "White Star" names and flags for all purposes. A cardinal feature is that the merger must be under British control
Merchants were quoted at 128ing the for near delivery.
7.
Shanghai Dollars Were quoted at 111 for cash.
Shanghai
indicated Steady. Sellers were at 1/4 for March buyers at 1/4 11/10.
U.8. Dollars Sellers at 35 1/16 for near, ers probably at 35% cash.
IN THE AFTERNOON Following
"
After the formation of the new company the board is to consist of ton individuale, inclusive of the chairman, to be nominated six by the Cunard company and four by the The Oceanic company in proportion to their shares of the capital. existing vessels are to be transferred at the earliest practicable date.
The Interest.
With regard to the first £1,000,000
> to be advanced, this stock shall bear With regard to the advances of interest until January 1, 1940, at i £3,000,000, the first £1,000,000 is to per-but below Bank of England be secured by an issue at par of discount rate from time to time in debenture stock of the Cunard comforce, and after January 1, 1940, "at buy-pany handed over by the Cunard such rate as the Treasury shall company to the merger company certify to be the appropriate rate Advances of the second £1,000,000 to at the time of certification for in- the merger company are to be terest on lossa guaranteed by the secured by an issue at par of do Government.. benture stock of the merger com- With regard to the second £1,000,-
the Advances. of third 000 and the first £750,000 for work- pany.
for £1,000,000 to the merger company ing capital the conditions. are to be secured by an issue at par interest are similar to those on the of income debenture stock class. "A first £1,000,000. The third £1,000,000 of the merger company.
slightly easier tone in Shanghai the local market was not quiet as robust in the after-
Sterling
.roon.
Was wanted, at 1/6 with sellers at 1/8 7/18 and possibly at 1/6 15/32 for the second half of the -month.
U.S. Dollars
Fares on s.s. "President Hoover** and "President Coolidge" slightly higher.
TO JAPAN fares apply from June 1st to September 30th
with return limit October 31st...
Hong Kong to Kobe and Return "... Hong Kong to Yokohama and return
"Frequent sailings.
For further particulars apply
DOLLAR STEAMSHIP
AMERICAN
MAIL LINE
PATĐK HUIDINGHONG TRONG
CANTON, AKAKOZ:—4, KHAKEY ROAD,
NEW YORK STOCK EXCHANGE.
ASIA LANDS, LTD., QUOTATIONS
(INCORPORATED IN HONG KONG),
#7
Tel. 28380-Gloucester Building, Room 306:
(AMUTER'S AMERICAN SERVICE)
New York: February 28,
Dow Jones Averages High-1933/34. Low: Feb, 17. Feb, 28. Change
30. Industrials
20 Railr
30.16 103.67.
103,40 47.80 26.45
.21 down
ETITE
20 Utilities
40,Bonds,
Commodity Index
110.74
56.94 37.73 92.45
60.44
25.43 47.94 19.33 96.44 73.31 81.47 41.98 53.55
14 down .19 down $1.61. ap, 63.48.09-down
Asia Landa, Limited, bas received the following report from their New York correspondents, E. A. Pierce & Co.
The market again showed little.
or nothing of interest. The attempted rally was inconclusive and we do. not think that selling in the last hour looked particularly important.
Whest: Market dail. There was no pressure until near the close. Offerings were pretty well liquidated, but the market must have renewed support.
Cotton: The market remained generally quiet. Conditions, however, are coming under the influence of the uncertainty with regard to the Bankhead Bill, which is still in the commitee stage.
Silver: There was new buying on possibilities of Washington develop- ment in connection with silver. Indian and Chinese interests were credit- ed with buying in London. Business Done: 1,320,000 shares.
Drv. HIGH Low PER. SE...
431
401
1935
J. I Case
LAST SALE
551xd
Feb., 27. Feb, 28.
$991 $97
112 160
3.00 Air Beduction
70
6.00 Allied Chemical & Dye.
1514
1502
102
102
100] 17
49+
4.00 American Can
15#
American Radiator.......
147
142
681
101
American Smelting..
451 442
1342
581
9.00 American Tel. & Tel
120.
1201
943
-5.00 American Tobacco "B
74
73£
言いたい
1.00 American Waterworks ....
214
212
198
3
Anaconda Copper Mining
147
142
843
31
2:00 Auburn
524
52
"B
Bendix Aviation
191
181
22%
18
Leo Borden Company
221
231
37%
7
Canadian Pacific"
16
151
30
752 131
1031
30+
al
50.50 Caterpillar Co.
284. 281
10%
1.40 Chase National Bank
281bid 284bid
59
7
1.00 Chrysler Motors
551
848
01
3.40 Consolidated Gas of N.Y.
39...
391
1
Curtiss Wright.....
5
1022
33
2.00 Du Pont de Nemours.....
981
3.00 Eastman Kodak
891
90
93
-
Electric Auto-Lite Con
28
28
48
10
0% & Electric Bond & Share
17
Electric Power and Light.
་།
T
15
0.40 General Mectric
m
21
201
1:00 General Foods
83
397
38
10
107
191 194
and the second £750,000 are to rank
271
134
404
407
46.
141/
85.
311
31.
301
381
41
407.
60%
282.!
29jbíd" 28jblad.
10
1.20 National Dairy Products
15 141
104
0,60 Otis Elevator .........
184
167
181
31
1
10 Pacific Gas & Electria
Packard Motors
19
191
57
131
BAG Pennsylvania Railway
194
3
124
[
*46*
19%
6
101
372
131
1.00 Standard Brands
ot
Standard Gam
221
1.00 Standard Oil Co. of New
Jersey
101
100 Texas Corporation
All these advances are to be made immediately behind the first deben- Should the merger company go Were reported to have been done by degrees as required for the com-ture stock. at 39 for a late delivery in the pletion of 534 against joint certifi mouth, closing with near buyers cates of a director of the merger into liquidation the Treasury is to et that rate and sellers at 28 15/16 company and a director of John rank in front of the shareholders.
Canton Silk Market
Brown and Co., Limited, the build. The Cunard and Oceanic companies ers, stating that the money to be are deemed to have carried on their advanced is required for expenditure North Atlantic shipping, business un upon or to recoup the merger com- from January 1, 1934, on behalf of Pany for moneys already expended the merger company: upon the construction of 634 in of the Re- accordance with the terms
building contract.
From Kwangtung Raw Silk Test ing Bureau Department of construction Canton, China.
+
Canton Quotations.
February 27, Extra: 0.8. 13/15 H.K. $540N.
0.8. 13/16. HK Small. Extra
$450N. Crack NB. 14/16 HK$350N. Extra. Extra 20/22 ELE. $380N. Waste NS. Open HK, 866N,
Yokohama Quotations
February 28, Zen 800 Spot Bourse six months Yen 614
With regard to the issue of £1,500,000 for working capital that Was to be advanced by degrees as required for working capital against certificates of the chairman and two directors of the merger company of these advances the first £750,000 shall be secured by the issue at par of additional debenture stock of the merger company, and the re- mainder shall be secured by an issue st par of income debenture atork of the merger company alam “B."
Merger Company's Ships,"
In addition to the uncompleted liner 534 the existing North Atlantic sete of the two companies consist of the following vessels:-
* Canard.” Berengaria, Aquitania, Mauret ani, Franconis, Carinthia, 8am- arie, Scythia, Laconia, Lancastria, Alamia, Ausonia, Andania, Antonia, Aurania, Ascania.
Oceanic.
Majestic, Olymple, Homeric, Georgia, Britannic, Adriatic, Alber tic, Laurentic, Doric, Calgaric.
161
157
684
-1.00 General Motors 1.0 Gillette Bality
1.90 Gold Dot ...***.**
0.60 International Harvester
International Tal & Tel. 4.00--Liggett & Myers "Bi 1.00 Loew's (10) .....................
Montgomery Ward
2.80 National Biscuit
1.00 National City Bank
Radia Corpn.
Sears Roebuck
Socony-Vacuum Corpn.
Trans-America
1.00 Union Carbide & Carbon
300 Union Pacific
United Air and Transport...
United Corporation
United States Steel Westinghonse E