STOCKS
Adams Express
Alleghany Steel Co. 19. Allis Chalmers....... 191 Amez. Can
100
194
Amer. & Før. Power Amer. & For. 57 pt. Amer. Locomotive
#j
Waterboats
Mining
10/6
Kailana
Raubs
10/
$01
#3
$124
$3.35
Venezuela Gold Pids.
cia, Hong Kong Mines......
Docks, WharTOS,
Godasma, etc.
H.K. & K. Wharves.....
$124
$2.45
Providents (old).........................!
Amer. Metais.......... 37 Amer. Radiator ...... 15 Amer. Rolling Mill... Amer, Smelting Amer. Tel. & Tel:... 142 Amer. Tobacco "B" 781 Amer. Waterworks. 112 Anaconda Copper ... 33 Atchison, T. & S. Fe. 351 Baltimore & Ohio...
PACE I2 HỒNG KONG DAILY PRESS
DAILY SHARE · QUOTATIONS Hong Kong Stock
Exchange
Buyer altera Maton (Nominali
1
$1,480
693
TUESDAY, JULY 5.
Banks
H.K. Banks
Du. (London)
Sharebrokers' Association
Hank of East Asia ...
· Bazers Sullore Balve Haminal
211
Chartered Banka "...
£18
Marcantila Bka, "A"
213 Mercantile Bka. "C"
$90
N. C. & S. Banka
Insurances
$240
Bantan Insur
3500
1500
Union InsurRILOR ................
$3
Underwriters...................................
Shipping
$85
Douglases
1220 H.K. Fires ...........
$39) Blaambonta .........man.
Indo-China (Prof.)........
Indo-Chinas (Del.)..
91/104 Sholls
THE EXCHANGE MARKET
MESSRS. ROZA BROS.
Silver prices rosa 1/8 yesterday for both deliveries, the quotations being 19 1/8 for Ready and 19 for Forward. Silver advicės re- ported some bear covering. India bought. Sellers were scarce. The market was steady. Låter India again bought at the quoted rate. The New York market was closed yesterday.
The Loudon/New York tate was quoted at 495.75.
MARKET
Quiet.
STERLING
Cross-
No business was reported. There were sellers at 1/2 31/32 July August and 1/2 15/16 September/ October, buyers at 1/3 Cash/ August and 1/2 31/32 September/ October..
U.S. DOLLARS
There were sellers at 30 7/8 July/September and 30 -13/16 October/November. buyers at 31 for cash and 30 15/16 August, possibly July,
SHANGHAI DOLLARS
167 1/4 Nominal.
FINANCE
.
NEW YORK ST OCK EXCHANGE
1938
(Through Router's Service)
QUOTATIONS
High Low Dow Jones Averages
July 1.
136.43
26.69
¥2.06 67.00
.. 130.63 - 98AA 30 Industrials
$3.77 19.00 20 Kalje
1120 15.14 90 Utilities 99.70 83.39 40 Bonds
$4,89 -45.00 .11 Commodity Intex 60.30
July 8, 1939. High Low Ulose Chang 139.19 138.83 138.33 – 240 up $7.88 97.00 97.57 48 up 21.43 92.16 22.37 57,99
+ up unquoted
Business Dona;—1,470,0** »hares.
WEDNESDAY, JULY 6, 1938.
PAYNE & & CO.
COMMODITY BROKERS
STOCK EXCHANGE BUILDING
HONG KONG
New York Commodity
Market
(THROUGH ŘEUTER'S SERVICE)
Prev. Today's Low Close Close Change
.8.95. 8,90 0,01 11 up
14
Last Sale July 1 tit
STOCKS
A
11
Last Sale July 1
2
Loew's. Inc."
50% 021
193
Martin, Glen L ... 24
241
49)
McKesson . Rob-
New York. July 2
091"
1003
bins: $3 pi. ..............
311
312.
High
'
51
Monsanto Chemical 921
94
New York Cotton
October 9.02
231
241
Montgomery Ward ....
431
+17
New York Rubber
Sépt.
15.35
closed
201
211
Nat Dairy Products
154
151
Chicago Wheat.....
Sept.
751
741
75+
742
1 off
371
Nat. Distillers
221
231
Chicago Corn
Sept.
58% 58
581
157
Nat Power & Light
78
8
Winnipeg Wheat
October
831
581 closed
† up
202
217
Nat. Supply Corpn.
20
201
50
501
New York Central.....
167
171
1431
North America Co. 23
23.
791
Northern Pacific.
101
111
2
12
Pacific Gas & Elec
291
29
NEW YORK COTTON
347
Pacifc Lighting
40
40414
361
Packard Motors ......
47 St
Close
Opening
Closing
Change
81
Paramount Pictures 11
114
July...
..: 8.91 N
8.97/97
9.02/02
11 up
$3.30
131
$19
Providents (new)..................... H.K. & W. Dooks....
SHANGHAI MARKET
Barnsdall Ol
17
173
Pennsylvania R.R....
19+
197
350
•
October ...
8:90/91
8.97/96
9.01/02
.11 up
$192
8.29/32 Nominal.
Bethlehem Steel
BOI
62.
Phillips Petroleum.
417
43
December
8.97/97
9.027,04
9.09/10
.12 up
$19.
#109
#5 60 $9,35
$6.40
Do. (new)....
3117 Shanghai Docks 8...... 43.90 Now Engineering» 8.
Lands, Hotels, and Buildings
B1174
IN THE AFTERNOON
Boging Airplane Co.- 261
273
Public Service of NJ, 321
33
January (1939)
8.98/98
9.05/07
9.11 N
.13 up
.14
The market was quiet in the Brooklyn-Manhattan afternoon.
W
Pure Oil
12
123.
March
9.04/04
9.12/10
9.16/17
,,12 up
STERLING
$6 cum. pí. Case, JI
271* 06
30
Radio Corpn. of Am.
May
{" }
9.07/07
9.12/12
9.19/20
.12 up
991
Republic Steel,
-19 »
20
Spot
9.01
9.12
11 up
H.K. Rendinsanet.
10 Chinese Estates .........****
$17.10 SAL
Tramways
:::
China Lights (now).....
818.10 Marc Electrics
Sandakan Lights ----
$60 Telephussa (old)....................
$9.9 Taleplanes (new)..............
24/6 Tractions
246 Tractions (pref.) ...........
Do. 4
H.K. Hotels******** 434 H.K. Lands..........
Debentures
€6.36
$640
$35
$100!
$84
Shanghai Landa 8.
Humphreya.....
$9.30
Cotton Mil
$14.80 Ewes 5.).
376
S'hai Cottons (S.)
$27
Zoong Sings (8.)
$14.70
$754 $34
$42
Wing On Textiles (8.)
$12
Public Utilities
17/17/
#17
FRA
Peak Trams (old)......
261
#31
Peak Trams (new)...------| -..
Star Ferries.
$23
Y'ati Ferries C.B.Ş
9214
Do.
$591
$11.10
8591
China Lights (old)......
news
**
H.K. Electrics
The market closed with sellers at 1/2 31/32 July/August and 1/2 15/16 September/October, buyers at 1/3 Cash/August and 1/2 31/32 September/October.
U.S. DOLLARS Sellers at 30,7/8 July/September and 30 13/16 October/November, buyers at 31 Cash and 30 15/16 August, possibly July
H. K. STOCK
Chesapeake & Ohio 32 Chrysler Corpn.
321
Scherley
20
201
The First Notice Day for July Cotton is June, 28 with delivery
821
67
Sears Roebuck
671
687
date July 5.
Columbla Gas & El. Columbia 6% "A" pr. 68 Commercial Credit: 39 Consolidated Edison 28; Consolidated On Corn. Products ... 653 Curtiss Wright (C) Curtiss Wight "A" 201 Douglas Aircraft 48% Du Pont... Elec. Bend & Share Elec. Boud
8+
Si
Shell Union Oil
103
162
671
Socony-Vacuum Ofl
15)
157
NEW YORK RUBBER
.41
Southern Pacie
167
171
281
Sdathern Rly $3 pfd.
174
18
93
10j
Standard Brands ...
: 81
July
14.22/22
September
15.35/35
621
Standard Oil of N.J: 553
653
December
15.45/50
CLOSED
5
.5
Swift International 27
27
March
... 15.52/54
201
Technicolor.
221
223
May.
15.59/80
501
Texas Gulf Sulphur 34
$37
12131214
20th Cent. Fox. Films
23
24
Sales for the day:
43
Share
i
.do. Union
Films pt.
331
33. M
CHICAGO WHEAT
Carbide "&
$6 pr.
57 574
Carton
792
* 817
EXCHANGE
Elec. Power & Light
$7 DL.
Union Pacific
831
829
Júly
733/731
$11 10
159
Gen. Electric
Gea, Motors.com
XD
$26.60
XD 189:10
24.6
YESTERDAY'S
"OFFICIAL QUOTATIONS
Gen. Railway Signal 201
Glidden Co.
Goodrich (3.FO)
Goodrich $5 pr.
Goodyear Tire & Co.
Industrials
The market remains steady and interest is a little more general..
Great Northern Rly 201
Great Western Sugar 261
314
Cald., Macg. (Ord.) 9.
Cald., Macg. (Praf.) 8.
*1.8G
$1.70 Canton ices
$18 $181
Cementa
$16.20
BUYERS Union Insurance, $500,· Union, Waterboats, $9.
Hecker Products
Int. Nickel
Int. Tel & Tel......
39.70
$4.60 Bapes
中
China Prov. (old)........
China Prov, (new)............
124 Dairy Farms..............................
16.60 Cb, E'tainmenta.......† $6.85
Constructions (new)..........i
18.70 Lane Crawford.........
$2.20 Sinceres
H.K. & K. Wharves, $124§.
Kennecott Copper....
Consolidated
$6.00
HK. Docks, (Old), $188. -
$6.80
HK. Docks (New), $19.
Libbey Owens- Förd
Glass
4.381
Miscellaneous
Constructions (old).....
Prov. (Old),- $3.37). »
Lockheed Aircraft'
* SEE. INESPERSE
14]
417
United Aircraft...
27*
28
September
-757/75
42
United Airlines Trans
9
31
December
771/77
758/751 774/77
.73/73
741/744
r pr
1 off
787/781
à off
371
39.
United Corpn.
31
3
Thursday's "Sales:
25,808,000 bushels
20%
United Corps. $3
237
cum. pf......nen ver 321
32)
CHICAGO CORN
184
Un Gas Tprovem't 11
114
481
4ä
U.S. Rubber.
38
39
July
571/571
244
U.S. Rubber pt.
79
79
201
U.S. Steel
59 60%
September December
581/581
582/582
5727571 583/581
up
up
571/571
572/572
58/58
up
271
Vanadium
18
181
73
Warner Bros. Pict..
81
61
WINNIPEG WHEAT
501
503
Westinghouse · Elec. 99!
1001
10%
103
Woodward Iron Cor. 16
162
July
102/102
414
40
Chase National BL. 321* National City Bank 271 Call Money
331*
October
821/831
CLOSED
28*
December
811/811
1%
NEW YORK STRAITS TIN
121 13
3231
Prov. (New), $31.
ez div.
* bid.
September
43.35 Nom
CLOSED
314)
NY Silver. Official NY/L'don Cross Rate..: 4.85-11/16
42-3/4
unquoted
4.95-11/18
**
い
Venz, Goldfields, $3.
H & S. Hotels, $6.40.
Debt., $102).
HK. Lands. 4
Humphreys, $9.35.
Naayang Tobsco.......
$21
HK. Realties. $5.60.
13.60
6.30/60
da, Ch.G.5% 1925G. Bd..
Watson *****
$6,40
H.K. Tramways; $17.10.
69%
Peak Trams (Old), $64.
pH.K. Govt: 4% Loans
$100
3pm.. Govt. 31% Loans | $102,
160
HK. Electrics, $504.
H.K. Wing Oarenes
350
Cements, $16.
S'bai Wing On
160
Watsons, 38.60.
Vibro Piling
Consol, Ch. Prov. (Old), 36.70.
***
13/11 Marsmana Inv. (H.K.)
***
70 sta. Wm. Powefla..
13
$190 Marsians Inv. (Lon.)
170 cta
LONDON EXCHANGE RATES
(British Wireless Service)
Shanghai
New York Amsterdam Vienna
Prague
Helsingfora
July 2
177-57/64
SELLERS
Union Insurance, $505.
Star Ferries, $80 Cements, $161.
SALES
H.K. Bank, $1460.
H. & 8. Hotels. $6.40.
HK. Tramways, $17-17).
Star Ferries, $77-75.
China Lights (Old), $11.10. H.K. Electries, $59).
Cements, $16.20.
Watsons, $6.30-50.
(Prices below in Phill. Currency)
Antamoks Ps, 38
Baguio Gold, .21
Consolidated Mines. 0035
Demonstrations, .27.
San Mauricio, 441
UNITED STATES SILVER
POLICY
AFTER FOUR YEARS
Dealers in the silver market have not yet recovered their bear- ings which were lost when the United States Treasury stopped the silver purchases from Mexico. The price of silver, which three years ago had risen to more than 35. for the fine ounce, but had dropped soon afterwards to below 204.. has been marked up and down within narrow limits in response to every presumed or real change in the silver-buying policy of the United States, says the Manchester Guar-
dian
COMMODITY MARKET REVIEW
SPOT
(FROM PAYNË & CO.)
As an Industrial raw material, In December, 1935, the Treasury OCTOBER-DECEMBER silver would undoubtedly be ob- discontinued the purchases in the JANUARY-MARCH tainable very much cheaper than open market, and the price of sil-
SINGAPORE RUBBER
July Z
July
buyers sellers buyers sellers change
24-242
247 251 up
251 251
.26 *26*. up
26. 231
261 261 up 1
The market opened of a cent higher for all deliveries as com- It is now. Even when it was used ver, which had already dropped on pared with Saturday's closing raten.
*
as a currency basis by several some such. expectation from over
Throughout the session the undertone of the market was very countries the price was substan- 364. in the autumn, fell away to tially lower until the Washington little more than 20d.
frm. Large buying interest for spot as well as forward deliveries Treasury in 1934 began to pur- In the succeeding year the out-was displayed by dealers which easily absorbed all liquidations and chase silver in large quantities.une of a new stiver plan was de profit-taking by speculators, but it was difficult to arrange busi- The present price, therefore,tected by observers of the market. ness except at a substantial premium over quoted rates due to scar-
city of sellers. In view of this fact prices gradually advanced by rests entirely on the assumption
NEW GROUP
cent. but even, the higher price-level failed to attract any important that these purchases will be, con-
Having "failed to achieve the selling. tinued. Is that assumption justi- domestic purpose of the Silver fed?
June 29
Parks
177-29/32
Geneva
21.612
21.601
Berlin
12.301
12.301
Athens
Milan
94-3/16
91-3/16
Copenhagen.p...
Stockholm
82
4.95€ 8.95-3/16
4.95% 8.951
1421
226
Bucharest
AT24
Hong Kong
Bombay
Montreal
Brussels
1/5-13/18d 5.001 29.22 +
5.001 29.231
Yokohama
HK Docks (Did), $197.
. Sellers
Hotels, $6.35.
Buenos Aires
19
Humphreys, $9.30.
Monte Video
201
Trams, $17.10.
Blo....
at."
Electrics, $59)
18.
Cements, 316:10.
.19
Entertainments, $8.55.. Watsons, $8.60, Antamoks. 58 cts. Atoks, 39 cts.
'Silver (Forward)
Silver (Spot)
War Loan
LONDON:-
Closing
July 5, 1938.
Telegraphic Transfer...1/9 Bank Bills, on demand J
Credita, 4 months' sight 1/3)
UN SHANGHAI
53
19-15/16
19-1/18
31% 101-13/16
Quotations
ON NEW YORK:-
Bank Bills, on demand 30 11AG Credits, 60 days sight® 31-3/18
ON BATAVIA
009
Bank Bills, de demand 1,098
Crédits, 4 months' sight 1,180
H.K. SHAREBROKERS'
ASSOCIATION
BUYERS
SALES
Hotels, $6.40. Star Ferries, $75-77. Cements, $16.20.
REICHSMARK QUOTATIONS
Berlin, July 5.
quoted
On demand
OR Panini
On demand
(50 nom.
ON SAIGON:
ON SINGAPORE:-
On demand
109
:. On demand
ON MANILA:-
The Reichsmark without guarantee at:
New York, 40.29.
was
OS JAPAN:
On demand .......
61
Paris, 1447.
ON BAKOTOR:
On demand
106
On demand
1495
OF INDIA'S
Telegraphio Transfer...
1/3-1/16
婚
Sovereign 'Notes
Bank Buying Rate................
Amsterdam, 72.775.
London, 12.305
Paris Sterling, 177.87 to 177.50. (Transocean).
JJ
Purchase" Act, the President con-
The action of the Security's markets, particularly in New York,
It is exactly four years alace cluded a series of agreements with would appear to be responsible for a decidedly more optimistic senti- President Roosevelt enacted the the "leading silver-producing and ment with regard to a general revival of business in Europe and Silver Purchase Act. The profes-silver-holding countries. Mexico. USA as well as improved prospects of Crude Rubber consumption sed purpose of that measure was Peru, Canada, and China, for then the near future. In the event of such anticipations being realis- the restablishment of silver as a acquisition of silver by the United ed, substantially higher markets for Rubber and other commodities monetary metal, and a ratio of States Treasury in exchange for may be confidently expected three to one between the gold and gold. It seemed that a new bime-
sliver reserve was said to be aimed
even more
predominant
tallistic currency group was being formed under United Stated States leadership.
Closing tone was firm.
For all the sliver purchases since made by the Treasury gold in For a time co-operation pro- today ceeded smoothly, but if such a than it was in 1934, and the mone-comprehensive plan had indeed SFOT tarisation of silver has not been been entertained at Washington 18 must have been severely shakeri brought nearer.
by the recent action of the Mexi- can Government,
No doubt there was a second objective, a.political one, for which the silver policy proved rather more effective. The silver-produc Jeg interests in the United States had to be won over for the New Deal,
After the expropriation of "the foreign-owned ollfields the United had little States Government choice but to terminate the agree- ment for regular purchases of sil- ver from the fexican Treasury on April 1...
OOT.-DEC. JAN.-MARCH
LONDON RUBBER
..Previous close Today's "close
buyers sellers buyers sellers change 7-3/167-5/18 7-1/2 -7-5/8 Up 5/16. 1-3/8-7-5/8 7-11/16 7-3/4
7-7/16 7-9/16. 7-3/47-7/8°
#
up 6/16
up 6/10/
Market Arm in sympathy with overseas. Profit-taking was ab- sorbed by renewed speculative buying. 1
Rubber stock held in the United Kingdom showed an increase of 1.375 tons for the week ending July 4, 1838.
WINNIPEG WHEAT
JULY
That the political objective was more important than the economic has been inferred with some reg The agreement with China has OCTOBER son from the fact that after the since been renewed, and co-opera- | DECEMBER 1935 elections, when the President |tion with the other countries con- had so large a majority that he cerned continues; but in the end could well dispense with the sup-the, success or failure of the port of the stiver block, the silver American silver policy must de- polley was thoroughly modified. pend on the attitude of Mexico.
Winnipeg Wheat-October
Close" Opening Closing Change
102-102
994-01 21 8377 83-821 801 off 31 81
801-79) 773-1 on
ارید
Prey. Today's
High Low Close Close Change
801
837 804