1938
STUCKS
Adards Express .......
Alleghany Steel Co.
Allis Chalmers
!!!!
!!!!
Amer. Can......
#!
#9.80
$129
13,40
13.3)
$21
8 eta, Hong Kong Minea......
Docks, WhaIVOS,
H.K. & Wharves.... 127
eravidents (old).........
Godowns, etc.
STERLING There were sellers at 1/3 July and 1/2 31/32 August-November. buyers at 1/3 1/32 Cash July and 1/3 October. possibly September.
U.S. DOLLARS Sellers at 30 3/4 Cash and 30 11/18 July-September, buyers, at 30 13/18 Cash-July and 30 3/4 September.
SHANGHAI DOLLARS Sellers 166.
PAGE 12-HONG KONG DAILY PRESS
DAILY SHARE QUOTATIONS Hong Kong Stock
Exchange
Sharebrokers* Association
Bujar
allers
Salut!
FRIDAY, JULY 22,
Buy Seller Sales Nominal"
ex.div.
$1,605.Jamm.d.| $1,610
£11
Banka
HK. Banka ....................
De. (Landoo)
Chartered Banks
Marcantile Bk. “A
£139 Mercantile Bk. "C"
N.C. & S. Banks ...........
Insurances
***
་་
THE EXCHANGE MARKET
MESSRS. ROŻA BROS.
The price tor Ready Silver drop- ped 1/18 yesterday to 19 1/2 but the Forward rate was unchanged at 19 3/8 Silver advices "report- ed India as having operated both ways. A small business was done. The market was quiet. American Silver was quoted at 3/4 for Spot. The London-New York cross- rate was quoted at 491.62. New York-London was quoted at 481. 3/4
$1,510 cum.d. {ox.div.) £88)
£11
198
Bank of East Asia ...
£13
#2
240
Canton Insurances....................
1390%
$600
Onion InsurSNOGE A
$500
MARKET
$9
| Underwritem constan
181
HR Fires -
13 3310
Steady.
Balpping
180
Donglases.
$75
$20
180
Indo-Chinas (Pref.}....
#81
344
Fado-Chiass (Del.)......
$24.
93/9
Shells
93/3
10
Waterbosta.....
Mining
15/
Kailas
15/-
Rauba
$9.80
Venezuala Gold Blda.
$3...
FINANCE
NEW YORK STOCK EXCHANGE
High
(Through Reuter's Service)
QUOTATIONS
64.89 46.03 11 Commodity Index 19.16
July 9, 1938. High Low Close "Chang 148.51 140:59 141.99
...08 op .13 up .48.of
SATURDAY, JULY 23, 1938.
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONG KONG
New York Commodity
Market
Low Dow Jones Averages 143.67 08.96 30 Industrials
31.77 19.00 90 Raile 33.45 15.14 90 Utilities 88.70 83.39 40 Bonds
July 20.
141.34
29.60
30.53 238 · 29.78
9255
2.00 21.59 2207
59,81
90.81 40 up
49.76 30 up
Business Done:—1,810,000 shares.
Last Sale
ЭТОСКА
Last Sale
July 20 21
July 20 21
121
121
Great Western Sugar
28).
282
194
19
Greyhound Corpn. 15
481
511
521
Jecker Producta
81
&1
100
1001
int. Nickel
502
(THROUGH REUTER'S SERVICE)
511
Amer. & For. Power Amer. & For. $7 pf. Amer. "Locomotive ... Amer, Metals..... Amer. Radiator ...... Amer. Rolling Mill... 211 → 211
501 Amer. Smelting Amer. Sugar Ring.... 281, Amer. Tel. & Tel... 1414 Amer. Tobacco "g" 811 Amer. Waterworks.. 12) Anaconda Copper ... 35
5
5
int. Tel & Tel.
.104
101
New York. July 21.
Prov. Today's
24)
23,
Kennecot Copper
411
41"
High Low
Close Close Change
23
231
Libbey- Owens- Ford,
New York Cotton
October 8.85
8.83 8.61
8.78 14 up
367
361
Glass ...
43)
444
New York Rubber
Sept.
181 161
Lockheed Aircraft
141
142
"
Chicago Wheat..
Sept.
15.55 15.48 15.45
703 891
691 701
15.54b .09 up
up
Loew's Inc.
521
491
Chicago Corn
Sept.
592 581
591 59)
50
Martin, Glen
251
26
Winnipeg Wheat
October 781 78%
761 77)
off 14 up
23-1
McKesson & Rob-
140
bins, $3 pt.
35
35
NEW YORK COTTON
83
Monsanto Chemical go
90
12+
Montgomery Ward.......... "471
Close
473
361
Nat, Dairy Products 15)
151
October.
8.64/65
Opening 8.63/64
Closing
Change ..
8.78/78
.14 up
Atchison, T. & 8. Fe.
39
40
Nat. Distillers
241
241
December
8.73/73
8,71/73 -8.57/67
.14 up
Auburn, Motors
#
42
Nat. Power & Light
74
7
January (1939)
... 8.74/74
8.78/76
*8.88/88
.14 up
13.45
SHANGHAI MARKET
Baltimbre & Ohio...
10
10
Nat. Supply Corp.
21
22
March
{" }
8.78/79
̈8.81/83
8.93/93
םם.. 15,
Providenta (DoW}......
$3.30
+
Sterling, sellers
at 9d,
0.6.5
Barber & Co. ........
211
22
New York Central...
201
201
May
8.83 N
8.85/85
8.67/97
14 up
Barnsdall Ou
201
201
H.K. & W. Dock....
$1
N. America Aviation 101
101
July
#)
8.78 N
8.89/88
0.01 N
.14 up
Sellers at 18.7 μ 18.
Bethlehem Steel
601
601
North America Co. 24)
231
Spot
... 8.74
" 8.88
14 up
$20
:
$6.53
$35
$15
$16
D (new).......
$115 Shanghai Docks 8.....
13.90 Now Engineerings S.
Lands Hotels, and
Bulldings
H.K. Hotel
H.K. Lands..........
Do. 4% Debentures
$8.40 Shanghai Lands S.
$€ H.K, Bonities....
$9.35 Humphreys ...................................
1100Chinose Estates ......................
Colton Mills
Ewos S.)
$117
14
afternoon.
STERLING ·
$4.50
6.67/60...
$361
$1,8
$0.80 $9.30.
IN THE AFTERNOON
The market was steady in the Borg-Warner
The market closed with sellers at 1/3 July and 1/2 31/32 August- September, buyers at 1/3 1/32 Cash-August and 1/3 October pos- sibly September.
Boeing Airplane Co.
29
291
Northern Pacific
13
14
NEW YORK RUBBER
311
314
Pacific Gas & Elec
281
28
Briggs Mfacturing. 291 Brooklyn-Manhattan
29%
Pacific Lighting
407
414
September December
15.45/45 15.45b/65a 15.54b/58a
.09 ap
15.54:58
Packard Motors .....
5+
51
March....
... 15.60/85
15.60/62 15.68/68
Trans.
"I
111
Paramount Pictures 111.
101 "
Brooklyn-Manhattan
Pennsylvania: R.K. ...
221
221
May.....
15.65b/69a
15.68/70 15.77/78 117 up 15.83b/85a 18 up
.14 up
$5 cum. pf. ... 351 Case J.I.....
71
341
Phillips Petroleum... 44
44
Sales for the day:-
2.500 tons.
FL
Public Service of NJ.
321
311
CHICAGO WHEAT
"
$18,10
$87
S'hai Cottons (S.) .............
$27
Zooug Sings (S.)
842
Wing On Textiles (8.)
$751 144 $12
U.S. DOLLARS · Sellers at 30 3/4 Cash and 30 11/16 July September, buyers at 30 13/18 Cash-August and 30 3/4 September.
Public Utilities
$17.70
Canadian Pacific Chesapeake & Ohio Chrysler Corpn. ...... Columbia, Gas & El. Columbia 6% "A" pl. Commercial Credit.... 451 Commonwealth & S. Commonwealth & 8.
98. 101
Pure Oli
13
131
341
34
Radio Carpa. et Ani.
7
7
July... September
***
69/681
694/694
70/691
701
711
Republic Steel
197
.183
December
... 71/713
711/711
69/89 70/89; 711/711
up
קנו $
1 up
81
Reynold Tobac. "B" 434
441
Wednesday's Sales:
21.397,000 bushels.
69
691
Schenley
211
21
45!
Schenley, 51% pid...
761
75
11.
11
Scars Roebuck....
173 1
731
July
CHICAGO CORN 577/59
58/581
up
Shell Union Oll
18
171
September
$17.70
$17.70
441
Trammsys
Peak Trams (old)......
$31 Peak Trains (now)......
8% cum pl..........
444
431
Socony-Vacuum Oil
153
151... December
579 Star Farries
$701
H.
K. STOCK
Consolidated Edison 291
294
"Southern Pacific
20
201
591/591 591/593 581/581 581/581 WINNIPEG WHEAT
50+/591
i off
577/58
1 of
ן
H
'Consolidated Ou
10
10
Southern Rly $5 píu.
197
193
July
100/100
$241
Y'mati Ferries C.R.
925
D2.
--[new}$
$14
611
China Lighta (old)...... 11
$11.0
China Lights (now).............
1001
H.K. Electrica ............
$61
$18
Macao Electrics
1201
$9.80
$14
J
16.30
$6.60
$18.70
Sandakan Laghia
Telephones fold). Taleges new)......
26/3 Tractions ******* 28/3 Tractions (pref.)
Industrials
Cald., Macg (Ord.) S. | Cald, Macg. (Prol.) 8.
$1.70 Canton Ioes
Coments
$4.60 Ropes
Consolidated
| China Prov. (old).................
China Prov. (new)..
3901 $9.70 24/0
***
$1.60 $18.60
રે
Miscellaneous
EXCHANGE
YESTERDAY'S OFFICIAL QUOTATIONS
During the week under review the market was steady to Arm with a moderate turnover owing to sellers holding cft for higher rates.
"BUSINESS DONE DURING THE WEEK
H.K. Bank, $1510.
Wharves, $129.
Docks (New), $19).
Continental Can
471
471
Standard Brands ....
81
B1
October
763/761
Continental Of
342
35
Stand Gas & Elec.
5
43
December
741/75
781/771 751/753
1014/1011 771/773.
1 up
קט 14
•
76/781
11 up
Corn. Products
683
691
Standard Oil of N.J
563
571
NEW YORK STRAITS TIN
Curtiss Wright" (C.) "5
31
Stone & Webster
114
111
Cartiss Wright "A" "23) Distillers Corpo, Sea-
23
Swift Internationa.
28
281
September
43.55/55
43.30b/80a
43.55 nom.
Technicolor
221
22
1281 Eagle Picher Lead 111 Elec. Bond & Share 104 Elec. Bond & Share
gramis Douglas Aircraft 524 Du Font
161
16
Texas Gulf 'Sulphur
35
35
NY Silver, Official ...... 42-3/4 NY-L'don Cross Rate... 4.92-1/8
42-3/4
4.91-3/4
52+
20th Cent. Fox. Films
242
238
1273
do. Films pt. ...
35
33.
114
Union Carbide *
91
Carton
831
841
Union Pacine
86
B6
$5 pf......... Elee. Bend & Share
556
551
United Aircraft
281
281
United Airlines Trans 11
101
COMMODITY MARKET REVIEW
16
(FROM PAYNE & · CO.)
SINGAPORE RUBBER
$8 pl.
61
60
United Corpa,
31
31.
Elec. Power & Light
United" Corp. $3
$t pl...
444
43
cum pf.
331
331
Fiintkote
233
231
United Gas Corpn
42
4
SPOT
$6.40 $1.75
**
:
$201
Dairy Farma astearat
026
Gen. America Trans
49
481
-Prov. (Old), $3.45, 93).
Un. Gas I'provem'i · 11
· 10
OCTOBER-DECEMBER
Ch. Etsinmanta... $8.40
Constructions (old).............!
Prov. (New), $3.30.
Gen. Electric
424
42
US. Rubber....
43
431
JANUARY-MARCH
July 201
July 21 buyers sellers buyers sellers change
252 251 25 251 of 261 262 201 261 offi 261271 261 261
$1.70
Constructions (new)........
18.70 Lane Crawfordi.
118
Nanyang Tobacco .............
$5
$7
30 95/T
$2.90 Binceras
Watsons
$6.95
Prov. (Old). Consol.. $8.00, $7. Prov. (New) Consol., $8.60. Hotels, $.8.55, $6.60, $6.55, $6.60. Tramways, $17.50, $171. $17.65,
Gen. Motors....
414
41+
UA. Rubber pf.
824 812
Gen. Railway Signal
221
.231.
US. Steel.....
Glidden Co.".....
25
25
Vanadium
193
603 61
20
Goodrich, (B.F)
20%
201
Warner Bros. Pict, ...
01
67
Ch.05% 1928.JB
$17.70.
Goodrich $5 pf.
564
57
WestinghousS
Mee. 1021
1024
871%
61.p
H.K. Govt. 4% Logne
$100
1.pm
H.K. Govt. 31% Lorne | $101
་་་
China Lights (Qld), $11, $11.05. Electrics. $802, 9601, $803, $81. Great Northern-Iron
Goodyear Tire & Co. 261
271
Woodward Iron Cor. 20
.201
r.
OFE
133
137
$50
HI.K. Wing On........................
a hai Wing Oanh của
165
241
#5.10 | Vibro Piling ---****
$26.60.
Cements. $181. $18), $16.60.
Chase National Ek 33 National City Bank 27* Call Money...·1%.
ez div. • bid.
334* 271*
2/6
IM
13/6 Marcial Inv. (Lon.)
70 ota Wm. Pównila
Maramana Inv. (H.K.)
170 ctm.
*Sales to Shanghai
LONDON EXCHANGE RATES
Paris
Geneva
Berlin
(British Wireless Service)
July 18
July 21
178 11/84
178-13/84
21.504
21.481
13.261 (2)
12.242
Athens
Milan
93;
93-7/16
Copenhagen.......... .........
Stockholm
8-13/181
4.951
4.91.
8.95-
8.95-1/16.
非
2421
1411
2261
6721
670
1/2 31/32
1/5 29/32
4.92 7/18
29,12
4.83-7/16 29.081
18.97%
18.94.
3-27/32
Shanghai- New York
Amsterdam Vienna
*Prague
Helsingfors
Bucharest
Hong Loạt
Bombay ...
Yokohama.monta mun
Montreal
Brúsels
Sellers
Buenos Aires
Monte Video
Rio....
3uver (Forward)
Silver (Spot) War. Loan
ON LONDON
195.
19 5/18
191
194
-31% 102-13/16. 34 103.
Closing Quotations
July 21, 1938.
Telegraphio Transfer... 117 Bank Bills, on demand {* ́*
· Oredits, 4 months" sight 1/5)
UN SHANGHAI:{
On demand
ÜM SINGAPORE :—-
On demand
IN JAPAN 1-
4.
On demand
LINDIA-
ON NEW YORK:—
Bank Billa, on demand. 23-7/18 Credita,.80 days...right 2015/19
ON BATAVIA:-
On demand
ON PARIS AL
561
Bank Bills, on demand 1,095 Credits, & months' right 1,180
Jnum.
ON SAIGON:-
On demand
ON MANILA:--
Telegraphic Transfer: 89 S Bank, ob demand
18/16
***** On demand ***
109
611
ON BAGRUPA
On demand
Bank Buring Hate. Rat Bilvat, per ca.
:1/2-1/16
Sovereign Notes
Telephones (Old), $26.35. $261. Great Northern Rly, 24
$16.70, $16.80.
Dairy Farms, $25), $261. $264.
$261.
Watsons. $6.85, $0.80. $6.95. $7.
Marsmans (London), 13/6.
Marsman (HK), 3/-, 2/11
3.15 p.m. Changes (Closing Quotations)
BUYERS Wharves, $1284. Providents (Old), $3.45. 'Providents (New), $3.35. Prov. (Old) Consol.. $8.90. Proy (New) Consol., 56.70. Cements. $16.85. Watsons. $7.05.
SELLERS
Watson, $7,20,
Banks, $1510.
SALES
Wharves, $129 Providents (Old), $3.50. Prov. (Old) Consol, $7. Hotels, 46.60. Cements, $16.80,
R.K. SHAREBROKERS' ASSOCIATION
BUYERS
Steamboats, $20. Providents (Old), $3.40.
Unións, $495.
Hotels, $8.55.
Lands, $354.
Feak Trams (Old), 362. Star Ferries $78, Yaumat! Ferries, $251. Telephones (Old), $27. Entertainments." $5.40. 'Raubs, $9.80.- ----- Antamoks, 62 cts. Atoks. 40 cts.
SELLERS China Lights (Old), $11.20. BRALES
Providents. (Old), $3.45. Yaumati Ferries, $25.35. Yaumati Ferries, (New), $3435, Telephones (Old)," $27
Watsons, $7.
OBJECTS OF CHINA'S
RECONSTRUCTION PLAN
|
Defence And Improvement Of People's Livelihood
Explaining the aims and policies of China's economic recon- struction in a special article published in the latest issue of ibe Central Bank of China Bulletin, Dr. Wong Wen-hao, Minister of Economics and foremost Chinese geologist, déclárod that active co- operation with friendly Powers, In respect of new capital, raw mate- rials and technical skill should be at all times encouraged.
National defence and improve, attain a state of mutual assistance ment of people's livelihood are the and co-operation; adjusting present two, principal almis in China's business structure and activities programme of economic up-build- and planning new enterprises to ing, according to Dr. Wong To quicken the rate of industrial attain them, the Chinese Govern-development.
P
Slightly easier conditions prevalling in London and New York were responsible" for the markèt opening à of a cent lower for all deliveries as compared with Wednesday's closing quotations,
Early in the morning the market ruled quiet, but with a steady undertone. Good enquiry for actual Rubber by consuming coun-. tries caused fair buying for trade and speculative accounts. After some business having been transacted at quoted rates the market be- came very steady on further persistent buying," prices advancing by 4 cent for all deliveries due to the reserved attitude of sellers.
After a' temporary relapse into dullness early in the afternoon, the market again became very steady, prices registering a further advance of cent for all deliveries due to the absence of sellers. Closing, tone was Arm...
•
United Kingdom Board of Trade Agures for the Arst five months of the year, compared with the corresponding period of the two pre- vious year, are as follows:
Imports
Exports
Stocks..
SPOT... OCT.-DEC. JAN.-MARCH
Jan.-May
Jan.-May 31st May
1938 1937 88.987 35,359
1936 35,580 tons 12,232 25.787 32,862 $2.058 46.434 130,499
LONDON BURBER Previous close buyers sellers 7-1/2 7-5/8 7-5/8 7-11/16 7-11/16 1-3/4"
Today's close buyers sellers change 7-9/16 7-5/8' up 1/16- 7-5/8 7-3/4. unch: 7-3/4 7-13/16 up 1/16- Market opened firm with overseas advices but reacted partially in the absence of Interest,
NEW YORK COTTON Trading early in the day was inactive and prices suffered slight reverses Later however, the market Armer on light offerings from abroad and domestic sources, Wall street then commented to cover short commitments, whilst there was local buying. Prices further advanced under the Inspiration of heavy rains in most sections of the cotton belt and on reports that boll weevils were more numerous
CHICAGO WHEAT
A steady market, with increasing rust and grasshopper com-
ment has adopted two co-ordinat- ⠀ REMOVAL OF FACTORIES ing policies: simultaneously to As a first step, the Ministry of during June than, during the past two years. Later the strength of securities contributed to the advance, while unfavourable differen- develop industry and mining, and Economies - has taken effective
ces checked foreign selling At the close, the market was "very equally emphasizing agriculture measures to 'move Industrial
steady. and-commerce....
plants located within or near the
- NEW YORK RUBBER --The Chinese programme is war zones into the interior pro-
Cables from abroad has a-steadying effect on the local market. designed -- to -- accomplish-- four #ifices. As an inducement the concrete objectives, which are: government extends special privi-Trading, in general, was mixed, with some buying accredited to for.
FOUR OBJECTIVES leges to factory owners. The sign accounts, due to the comparatively low prices. 1. Establishing basic industries latter may apply for "removal for national defence; extracting loans, mat mineral resources a
and supplying Industrial concerns in the in-plaints and the upturn, in securities influencing prices. Advices from electric power for Industrial uses. verfor may obtain loans, for speel- Liverpoof also aided the local market. There was some begging on 2. Modernizing agricultural Red purposes at a specially low expectations of a large crop in Europe and the smallness of holll and methods, and adopting scientiae rate of interest.
Overseas, demand. farming so as to increase farm The Chinese Government. Dr. production and improve farmers Wong said, fully realizes "the living conditions.
difficulties Involved in the opera," 3. Utilizing domestic products tion of this factory-moving plan, and improving agricultural, inining particularly those of transporta and Industrial technique so as to tion. But under present condi reduce costs and increase, sales, and at the same time become self sufficient in the supply of food stuff, fuel and other necessities..
AMINERAL" ELSOURCES Guiding commercial and industrial organizations in active The Chinese Government is operation, so as to enable them to losing no time in developing the
tons the Mindstry of Economics is striving to carry on the pro gramme for reconstruction with an undaunted spirit.
the rich mineral resources of · REICHSMARK QUOTATIONS" Hunan, Hupeh, Bzechuen, Kwangsi
Berlin, July 22. and Yunnan.
The Reichsmark was quoted without guarantee at:
New York 40.17. Paris, 1456,
In short, the Minister said, the interior provinces of Chiria -" will soot see the dawn of an age of Industrialization and electrica tion, and, all parts of China will then enter upon a stage of indus- trial development and economic prospe
Amsterdam, 13.02 to 73.06. London, 12.2475
Faris Sterling, 178.18 to 178.21. Paris US Dollar 36.233.
(Transocean).