63 eta.
$37
48 ota.
52 $115
COMMODITIES
Sept. 16
Sept. 17 ·
342
Suver N.Y.-London
Cotton: December
Close Open 10.30 11.00 11.30 Mid-day
5.007 5.00 5.00 5.00 5.00 12.82 12.82 12.82 12.84 12.85
Cotton: March
12.91 12.93 12.91 1288 .12.94
Silk: December
1.11
1.10 1.10 1.10
18.45 $50
361
$97
$14
$4.80
H.K. Healties.........
China Do .............$.
#137
Do. Debenturess.
$10
$140
$20
180
Humphrays
New Asia Hotel.. Asis Realtion "A'S.
Do.
""
Chinese Estates..... Cotton Milla
fit!!!
Rubber: December
15.56
15.51 15.50 15.42
Rubber: March
15.96
15.91
Wheat: December
1.03$
1.03 1.04 1.044
84.70
Wheat: May
1.04
-1.04 1.042
Corn: December
751
781
77.
Corn: May
777
787
184
ទេ
Winnipeg Wheat: May
784
871
$40
STOCKS
American Smelting
31.
321
317
***
Auburn ......
214
$10.85
175
Ewos da S'hat Cottaustuld/3.
$10,90
Consolidated Gas of N.Y. 25
251
251
3731
Du Pont....
841
843
-851
84+
944
Do. (new S.
***
El Bond and Share
91
f
91.
811
Zong Bings.....S.
8111
$55
Wing On Tortiles(3.)
General Motors
271
271 211 26
$52
Public Utilities
Int. Tel. and Tel.
81
84
81
84
12
DAILY SHARE QUOTATIONS Hong Kong Stock
Exchange
Sharebrokers'
Association
MONDAY.
Buyers
Halen 8433416
Nominal
Buyers.
Sellare
В
SEPT. 17.
Banks
$1,725
£135
218
Do.
$1,720
"U"
380
£30
£13
H.A. Banks
20. (London) Chartered Banks... Mercantile B. "A"
Bank of East Asia
N. O. & S. Backs
Am. O. u. Corp: 5.
Ch. Fla. Corp. Urd...
Do. Prut. S. Insurances
Canton surandos..
Underwriters $1.15 Unish Insuran008 --- $530
China Firea *******
H.K. Fires*** $245 International Assos, 8,
Shipping
Dougiases $611.
12
Indos (pret) toime
$89
H 15
120
81.15
35321
$245
· R698
1510
$401
07.
Steamboa
$30
$31
Do. "(def.) «penden
481.
Shells
313
Waterfoste
Amtsinuks....
Mining
Balateds
Baguio Gold.....
Benguet Consolidated
Do.
Exploration
18 us.
jau ota.)
Do.
Goldfield ..
12 sts. Big Wedge.........
$985
E UN
*#*!!
HONG KONG DAILY PRESS, TUESDAY, SEPTEMBER 18, 1934.
NEW YORK STOCK AND COMMODITY QUOTATIONS
AMERICAN ORIENTAL FINANCE CORPORATION
AND S. E. LEVY & CO.
W
New York, Sept. 13. $16
The American" Oriental Finance B13) Corporation's report through their New York agents, Messrą, E. A. Pierce & Co.. states:—
$3,80
633/5/35
$550
$7
$30
$35
47/6 $131
(82 cta.{64., cla
48 ots,
342
93 ata. Gold Bater... 23 ota 24 ots.
12
$21
OF
Gold Creek.....
Ipo Mining.
Itogona
Kailans 30
$175
Langkala (singlų) d.
$5
Explorations.....
Shanghai Loans
.
$12.70
$12)
36
Venezuela Gold Fide
Docks, WharvON,
Godowns, etc.
********
3111 31
H. & K. Wharves.
$108
$1,40
50 cts
...
35 ots
214
314
Provident (old) ...{
Do."
(new)...
11.K. & W. Docks
S. China Motors' A'
Do.
#118 Shanghai Docks S.
3312 1310
New Engineerings8.
Hongkew (old) 9.
Do. (new) 8.
Lands, Hotels, and
Building
H.K. Hotels
"
$5.35
$5.45
H.K Lande........5.] 7403 | 7804
Shanghai Landa...8.
Metropolitan Lands..
Stocks: Temporary resistance was shown but, lacking important constructive news, we would con- tinue a cautious attitude.
Wheat:-The market "opened lower on Commission House selling. 'The subsequent rally was the re sult of buying by a broker who usually acts for mill interests. Otherwise, there was no demand of any consequence. ·
of
A
cessation Cotton: The liquidation of distant months, less urgent Trade demand for near shipments and moderate hedging
steady.
sion Houses" and closed Dealers were not in the market.
New York, Sept. 15. Mesara B. E. Levy & Company report, through their New York agents, Messrs. White. Weld & Co. states:--
Stocks: We still believe that moderate purchases could be made in the general area before a trad- ing rally occurs. Business done: 540,000 shares.
one Bonds:-Bonds were off eighth to a quarter all through.
less Wheat:Liquidation was pressing due to basic strength In all grains Further declines should attract
morc
LATE NIGHT
CABLES
The following cabled reports were furnished by MessĘS. S. · E Levy and Co. last night-
"
London Forecast
A
In wheat, although sentiment is mostly bullish, on account of the threatened importation of grains. Ittle change is anticipated. lower rubber market is expected Cotton prices are expected to open slightly lower on weaker Liverpool cables and a continuance of hedge selling, but weather conditions are bullish, while General Johnson's speech denouncing the strike is considered to be helpful toward a settlement.
A.OF.C. New York Cables
A moderate business improve- ment is likely to follow the September low markets, but, con- tinuance in the testing area for several, days would strengthen the condition of the market.
Cotton: The continent is a mo.. aggressive buying.derate buyer of distant months. Liverpool is selling July. Hedging Business: Unavallable.
is small: The tone is fairly steady.
were the features of the market Cotton: The Trade is confining Publie to-day." A forecast of the weather purchases to set-backs. indicated frost in Western Okla-sentiment appears to be strongly 119 et...
oma and in the North-Western against the Textile strike and many technical Southern milis are expected to re- 14 ct parts of Texas. The
position of the market is strong open again next week. and we recommend purchases.
Rubber: The market was very zteady, due to buying by Commis-
+
19 6
518
Rubber:-There was fair Trade buying and sentiment is improving. Business done:101 lots.
NEW
YORK
MID-DAY
PRICES
1
The following mid-day prices were received on Saturday from New York by The American. Oriental Finance Corporation and Messrb. S. Levy & Co.
COMMODITY PRICES
New York Cotton
New York, Sept. 15.
Sept. 15
Sept. 14 Closing Opening. Closing Oct. 12.79 12.79 12.80 12.71 12.72 Dec. 12.91 12.90 12.90 12.81 12.83 Jan. 1291 12.92 12.90 12.84.22.8-1 Mar. 1294 12.94 12.04 12.91 12.91 May 12.98 12.96 12.97 12.95 12.95 July 13.01 13.00 12.99 12.97 13.00
12.05 Spot 13.05
New York Rubber
Investment Securities and Commodities
We offer you
Daily Quotation Service
and
Every Facility, for Trading through our
New York Correspondents
E. A.
PIERCE & CO.
American Oriental Finance Corporation"
Asia Life Bldg. 14, Queen's Rd., C.
Federal Inc. U.8.4.
Hong Kong.
Tel. 26631.
S. E. Levy & Co.
UNDERWRITERS AND DISTRIBUTORS
"SECURITIES AND COMMODITIES BOUGHT AND SOLD ON COMMISSION
DAILY NEW YORK STOCK AND COMMODITY SERVICE
Members!
30
NEW YORK COTTON EXCHANGE COMMODITY EXCHANGE, INC. CHICAGO BOARD OF TRADE
CORRESPONDENTS FOR WHITE, WELD & CO., NEW YORK
י
7, ICE HOUSE STREET, HONG KONG (Head Office:-Continental Bank Building, Shanghai).
Chicago Comm
Sept. 757
75% 75%
751 79 Dec. 76 754 75 753 751 May 771 778 774 774 774 Total rales:--
NEW YORK STOCK EXCHANGE
THROUGH REUTER'S
14
AMERICAN ORIENTAL FINANCE CORPORATION
AND S. E. LEVY & CO. QUOTATIONS
New York: September 15,
Last Today's High Low Close Close New York/London, Cross-rate 3.01 00 5.01 5.007 Now York Cotton-December 13.90. 13.80 12.81 12.89 New York Rubber-December 18.55 15.42 18.41 15.05 Chicago Wheat -December 1048 103 103 1058 Chicago Corn -December 767"
7 78 751
49 40% Silver-Official
Dow Jones Average#" High-I933/24 Low: Sept. 14. Sept. 15. Change
Oct.
15.15 15.10 15.10 15.29 15.29 Dec. 15.41 15.45 15.48 15.54 15.55 Jan 15.51 15.55 15.57 15.66 15.56 Mar.
5.001
12.88
May
12.03
1.108
15.80 15.85 15.88 15.92 15.90 16.07 18.14 16.14 16.21 16.22 July 16.30 18.35 16.40 16.48 18.42 Total sales:
161 lots
>>Tel. 0101 and 30103
Tel. Address: Belco.
·
15:45
Chicago Wheat
15.91 15:85
15.05
1.04
1.05
1.043
Sept. 103 1027 1027
Dec.
77+
77%
--1037 May 1044
19
787
Filday's sales!
103 103) 103 103 1037 103 104 1041 104 1042
Unavailable
87
873
314
313
Change of Dull
*21 214 21
251 25
251 831 331
Unavailable
off
01
27
.00 off .14.up † of
unchanged
26+
264
Winniper Wheat
B}
81
30 Industrials"
110.74
84.58 88.85
$30.20
Tramways t
$20
Loew's Inc
261 ⇓
26)
26.
25
25+
fct. 827 82 828 82 221
20 Bail
56.94
32.95 33.43
20. Utilities
37.73
18.18 18.81
87,34 .61 up 33.42.01 of 18.75.06 off
315
Peak Trains (ohu).....}
114..
McIntyre Porcu.
441
Dec.
57
Va
(DOW)...
13
"Montgomery W.
221 222
23
221
22 221
May
839 88
831 831 831 831
40 Bonds
95.48
[
84.73 90.83
*90.6%
10 of
87+ 873 871. 874
11 Commodity Index
€5.45
41.98 €1.18
$98
Star Ferries
308
Nat. Distillers
181 19
19
181 181 18
$81
Taumati Ferric
$21
Div.
1933/34
$8,60 38:20
$8.50
China Lights (old)......'
8.50
N.Y. Central
19)
Tay
197
197
191 191
New York Sugat
Pr. Bu,
HIGH
Do.
(new)... 18.25
Standard Oil Co. of NJ. 413
412
411 417
413 411
a.00 Air Reduction
112
Low
47
61.17
01 of
LAST SALE
Sept. 14 Sept. 18.
$961
$97 bld
H.K. Electrica
$71
$72
•
Un. Aircraft
121
121
121
124
121
12}}
Oct.
$25
Macao do
US. Steel-、.
308 301
30+
291 *9*
291
$23.00
$11.10
"
4 10]
17/41
TH
310
21
:2)
$2.70
12.60 131
Bandakan Lights .........
Telephones (old)
Da
$13.20 China Buses 1990 Sc
Tractions restes
Do. (prof.)
Industrials
Malabon Sugar ... Caldbeck, Honly) 8.
Canton lees
Cement.
Ropes
Miscellaneous
Mar. May .1.98
1.93
1.95
Market closed
$23.80
(new)
#11-
70 ot. Wm. Powells .........................
홍모
$130. C. Enterprises...$1.30
$i
Maogregors pref.18.
11.30 $2.40
$2
#241
Dairy Farma...
set
3241
$1
Der A Wangs.........
34
$7
Ch. Etainment................
$31 $730
$1.50
78 otw.
(new)75 st.
$4.18
Lane Crawfords.................
$4.10
$21
Mackintosha
Nanyang Tobacco... $4.70
$10
Sinceras
$10
35.30
Watsons
155 äta.
M. Greyhounds.......
United Theatro...8
87 Ch.0.5 19925G.3Bde. 554
H.K. Govt. 4% Loan
71%
perm, $71
$110
!!!
Amusemente ****
Constructions, (old)] 31 65
Do. a4%
Wallsco Harper......
HK. Wing On ****** B'bal Do,
H.K. SHAREBROKERS' ASSOCIATION
Buyers.
Bank of East Asia, $89. Canton Insurance, $285. Unions, $532.
Hong Kong Fires, 5245. Antamoks, 82 cents. Gold Rivers, 23 cents.. United Paracales, 24 cents. Raubs, $12180 CD.
Vena Goldfields, $45, ⠀ Lands $50, Providents (Old), $1:40. Trams, $204. Lights (Old), $8.60." Lights (New), "$8.30. Electries, $71. Constructions (Old), $1.65, Constructions (New), 76 cents, Nanyangs, $4.70.
Gold's Bonds, 3851 per cent. Vibro Piling $6.
$109 $101
S. E. Levy & Co.
The weather in the Cotton Belts has been very considerably cooled There are downpours in the East but Georgia, Carolina Flexida and the Centre are having light rain falls, while there are showers in the West and Texas Coast. The forest is for unsettled weather. tepérally
The Grain Belts are cool but partly cloudy and the Eastern Corn Belt is experiencing widespread rainfalls. The weather here is also unsettled.
Sellers Wharves $108.
Sales Underwriters, $1.15. Vibro, Piling, £610,
LONDON FINANCE NOTES
Outlook For Tobacco
Companies
(Special Air Mail Service) London, Aug. 31, to be a party to what it regarded as an unhealthy method of doing Among industrial shares. lately business. Now that the sale of in favour with investors those of
cigarettes is no longer "cum cou- tobacco companies have taken a
pain" the Imperial company is prominent place. For good rea-
understood to be recovering a con- sons tobacco shares have long siderable amount of trade that been popular with the public. Few
was temporarily transferred to businesses have had a more com-
rival undertakings, so that eam- sistent record of progress over the
inga for the current year should. last few decades, and the long benefit both by larger sales and period of prosperity has synchro-
economies in working expenditure. nized with conservative finance.
HOME FÁIL TRAFFIC TREND that has enabled the companies
Home railway traffics have re- as a whole to build up a position
cently been running at about the of great financial strength. He-
1931 level Last week's "Great cent statistics indicate that the
Western figure, for example, was consumption of tobacco has been
£567,000, compared with £500,000 increasing, as might be expected
in the corresponding week three from the improvement that has
years ago, the corresponding taken place in trade and in spend- ing power. But the factor that week three years ago; the "Ber- perhaps has lately had most to wick" receipts of £947,000 went in the share against 2963,000 in 1931; those of do with activity market la the saving which will Brum" were £1,303,000, against accrue to the industry from the 1,297,000: and Southern £492 abolition of the coupon gift sys-000, against 502,000. The LMS. tem of trading. This system came was the only line to show a gain on the 1931 Agures, and that by to an end as regards the manu
acturers on December 31 last, and only a narrow margin....... as regards the retailers on June 30 While the trade generally must berent to a substantial ex- tent from the cessation of the costly gift system, the Imperial Tobacco Company, the largest of the, combinations, stands to derive especial advantage. This group "entered the field of coupon-trad- ing late in the day, and only as a consequence of the considerable failing off in sales that resulted from its refusal for some years
There is still a big gap between the aggregate receipts for 1934 to date and the comparable figure for 1931. The Western figure is £1,210.000 lower; the Southern figure is £749.000 down; while the "Brum aggregates "Berwick" and fall short of the 1831 level by £1- 885,000 and £1,712,000 respective ly.
Dspite the encouraging trend of traffics, the gross receipts for the whole of the current year will fall
|
considerably below the 1931 level There is, however, a big difference between the two sets of figures. In the first place the traffic trend three years ago was definitely downwards: whereas it is now as- cending steadily. Secondly, substantial economies effected in recent years are now bearing fruit, and the net revenue figures for the current year should compare not unfavourably with those for 1931.
ESTIMATES FOR 1934 Even so, it seems unlikely that the het revenue for 1934 will
reach the level for 1931, in which year the wage cuts were imposed. It has been estimated that the the earnings for this year of the four lines will be between £32,- 000,000 and £33,000,000, compared with £33,400,000 for 1931. A com- parison with 1930 is still more un- favourable, for in that year the net revenue totalled £37,700,000,-
"All things considered, the recent partial restoration of the wage cuts by the companies was the utmost that could reasonably be granted without unfairly jeopardising the stockholders' interests,
The ex-
tent of the stockholders' sacrifice is not always adequately realised In 1933 holders of more than £310,000,000 of railway capital received no return at all; and only part of the dividend was paid on £208,000,000 of Preference capital.
There is a reasonable prospect that a slightly better return will be made in respect of 1934. But
Beems unlikely that there will be a general return to the distri- butions of 1931, for the inadequate payments in respect of that year were only made possible by heavy dratts on reserves.
Electric Auto-Lite Co. 8% Electric Bond & Share
Electric Power and Light..... 0.40. General Electric 1.60 General Foods 1.00 General Motors 100 Gillette · Safety 1.20 Gold Dust 0.80 International Harvester. 0.10 International Nickel
--International Tel. & Tel. 4.00 Liggett & Myers "B" 100 Loew's Inc. 2.00 Me Intyrs Porcapins
Montgomery Ward
200 National Bisauit.. 1.00. National City Bink 1.20 National Dairy Products
National Distilleri
N. Y. Central ...... 0.00 Otis. Elevator...... 1.50 Pacific Gas & Electric
Packard Motors
1.00 Standard Oil Co. of New
Jersey
1.00 Texas Corporation 0.19 Trans America
1.00 Union Carbide & Carbon 5.00 Union Pacião
United Air and United Corpora United States Steel Westinghouse Bat
8.00 Allied Chemical & Dya 4.00 American Can
American Radiator....... American Smelting.........
180
701
117
117
1071
401
954
96
19
41
111
12"
55+
102-1
312 31
New York BIK
Dec. 1.11 L'eb. 1.12 April 1.12
9.00 American Tel. & Tel. 5.00 American Tobacco "B 1.00 American Waterworks
jast
108
1091
94
731
741
431
6
141
141
Market closed
Anaconda Copper Mining
234
5
307 101
Aubora...
841
241
22
211
Bendix Aviation
231
117
11
1.80 Borden Company
37%
18
231
24
J. 1. Case *****
1034
36
301⁄2
301
Canadian Pacific
20%
13
13)
0.50
Caterpillar Co.
33
24
23 bid
the
1.40 Chase National Bank 1.00 Chrysler Motore ...... 3.40 Consolidated Gas of N.Y.
Curtin Wright 2.00 Du Pont de Nemours 3.00 Eastman Kodak
401
21 bid": 21 bid
ест
301 30
254
251
51
21
20
1081"
841
841
1001
95
951
318
201
214
91
9+
48
34
158
31
201
174
301
29
284
281
271
101
101
171
24
241
913
84
991
96
95
30
251
261
-30%
221
227
301
30₤xx +
19 bid 19źbid
48
18
$157
28.
10
181
18+
20%
· 194
19
14.
13
101
144
141
311
31.
·34
201
21+
0.50 Pennsylvania Hailway
49)
5
7 51
Radio Corpa.
19
Sears, Roebuck
$347
0.49
Bocony Vacuum Corpn.
124
13
134
19
Southern Pacific
16
18
1.00
Standard Brands
[181,
187
Standard Ga