$1,470
-
219
$13
£139 Morvandla Bka. “C”
£13
188
Bank of East Azia ....
$98
H.K. Bank (Lon.), £88. H.K. Steamboats,. $22}.
N. C. & B. Banks .....
Insurances
2
Union Waterboats, $9.
PAGE 12-HONG KONG DAILY PRESS
DAILY SHARE Hong Kong Stock Exchange
Bell
!!
QUOTATIONS
Sharebrokers' Association
Numtaul
WEDNESDAY. AUGUST 10.
Backs
$1,470 H.K. Sanki wet
238
Do. (London)......
Chartered Banks
Karcantile Bks. "A"
Wayer beers Nales Nominal
H.K. STOCK EXCHANGE
YESTERDAY'S OFFICIAL
QUOTATIONS
There are no changes to report
in the market which was on the quiet alde,
BUYERS
FINANCE
NEW YORK STOCK EXCHANGE
(Through Reuter's Service)
QUOTATIONS
High. Low Dow Jones Averages,
30 Industrials
THU
AUGUST 11,
1938
1933
Aug. 8.
Aug. 10, 1908. High Low Close Chang
145.07 · 88.96
144.33
$2.77 19:00 20 Bail
29.63
30181 29.00 21.30 20 up
22.65.14 20- Utilities 92.70 83.39 Bonds
90.77
20.60 20.37 20.48
.9 off
90.01
59.00 45.09
11 Commodity index 47.06
59,00 £7.36
.11
off
Providents (Old) $3). ·
Business Done: 850,000 shared,
1990
1220
Canton deurENCO..................
Providents (New), $3.40.
$9.70
33
$3.40
$21
$20
$39
$500 Union-Insurnacha .....
-32
5995
180
$231
√21/23
$80
:
$38.40 $38)
$5.86
| Underwriters a
Shipping
Donglasos ................
Steamboats.
Jedo-China (Prof.)..
18Indo-Chinas (Def.)..
*99#Bhalla
16/
Waterbosta
Miniag
Kailangan Haube ......... Vanmunela Gold Vida..
li ota, Hong Kong Mixes.....
Docks, Wharton), Godowns, sta
112H.K. & E. Whares...
Provideats (old) ................
Providenia (new).....................
H.K. & W. .Docks....
÷Dɑ. ** (now).
$1874 Shanghai Ducks 8.....
$3.90 Now Engineerings 8.
Lands, Hotels, and
H:E, -Hotela ominent 18)
H.K. Lande......... $107) Do. 4% Debentures $8.40 Shanghai.Lands B.
H.K. Realtion
39.35 Humphreya .......... sted Chiness. Estates
Cotton Mili
$500
Raubs, $9,70.
Vena. Goldfield, 53.
. STOCKS
Last Sale
STOCKS
Last Sale.
143.87 14180 143,1 1,19 off
da Is
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
A
HONG KONG
New York Commodity
Market
(THROUGH REUTER'S SERVICE)
il.K. Fires
8910
H.K. Lands. $38.
$75
H.K. Realtles, $53.
Adams Express
August 8 9 12
August 8 9
New York. August 9. * *
Prev. Today's
117
Great Western Sûza
278
271
Figh "Low
Close Close Change
23/234
Peak Trams (Old), $63
#B1
02/6
2
16/3
::
Constructions. $14.
!!!!!
$12911
$3.40
191
HK Lands $38.40. H.K. Realtles, -$5.35.
$125 $4
SALES
China Lights. (Old); $11.10.
China Lights (New), $8.
H.K. Electrics, $80).
H.K. Ropes. $4.
Dairy Farms. $25.20.
Watsons. $7.40.
H.K. Gort. 4% Loan. 53% pm. HK Govt. 34% Loan. 11% pm. Consol. Ch. Prov. (Old), $7. Consol. Ch. Prov. (New). $6.80. 'SELLERS
Alleghany Steel Co. 181 Allis Chalmers ........ Amex. Can.
18
Greyhound Согра
17
17
New York Cotton
October
52
531
Hecker Producta
71
New York Rubber......... Sept.
1031
1013
Int. -Nickel
51
501
Amer. & For. Power
#1
.41
Int. Tel & Tel.
91
91
Chicago Wheat
Sept,
16.15 831
8.27 8.17 15.91
Amer. & For. $7 pt.
203*
201"
Kennecott Copper.... 421
Chicago Corn
421
Amer. Locomotive.
221.
221
Libbey- Owens- Ford
Winnipeg Wheat
Sept. 511 497 501 61 October 731" 711 71
8.36 8.26 unch 18.10b 16.11N 01 up
624 621 631 i ap
1 up
up
72
Amer. Metals ...........
361
352
Glaas....
491
49
Amer. Radiator
153
154
Lockheed Aircraft... 153
15
Amer. Rolllar Mill ...
21
201
Loow's Inc. ..........., 494
491
NEW YORK COTTON
C1080
Opening Closing
Amer. Smelting
501
.. 501
Martin, Glen L...... 241
241
October ...
... 8.26/28
8.20/20
8.26/27
Change unch.
Amer. Sugar R'ing ....
263
261
McKesson & Rob-
December
8.37/37
8.29/28
8.35/36
02 од
Amor. Tel & Tel
1421
142
bins. $3 pf.
35
341TM
***
January (1039)
8.36/30
6.30/90
8.36/36
unch.
Amer. Tobacco "B" 90"
871:
Monsanto Chemical 974
961
March
8.40/41
8.33/32
8.39/39
Amer. Waterworks .....
12
101
Montgomery Ward- 481
49
Anaconda Copper
361
361
Nat, Dairy Products 151
May
(
8.43/43
8,34/34
8.42/43
.01 of
.01 "off
. 151.
July
} .
8.48 N
8,38/38
8.54 N
.01 on
373
38
Atchison, T. &-8. FT.
Nat Distillers
25?
251
H.K. Steamboats. $22-23.
H.K. Lands, $38‡..
Auburn Motors ......
4
4
•
Spot
8.36
8.35
unch.
Nat Power & Light - Gi
63
Baltimore & Ohio
.92
91
Nat. Bupply Corpn. 191
181
NEW YORK RUBBER
Building
862
Yaumati Ferries (New), $24.
Barber & Co.
201
204*
New York Central 191
20
$6.70.
191
194
$38
H.K. Electrics, '$60),
Barnsdali Oll ...........
N. America Aviation 104
91
September
18.10 b
€107)
$5,80
H.K. Govt. 4% Loan, 64-61% pm. (Prices below in Phil. Currency)
Antamoks Ps.. 35
Bethlehem Steel
591
507
North America Co. 211
211
December
16.28/30
16.00b/103 16.20/19
16.11 N
.01 up
16.24/25
04 off
281
271
Boeing Airplane Co.
323
321
Borg-Warner
34.34)
$9.30
Atoks, .30
47
Baguio Gold, 211
$182
Benguet Consol.. 11.30
$18
wo (8.)
#96
S'hai Cotton (8.)......
$87
Coco Grové.. 43
Briggs Mfacturing. Brooklyn-Manhattan
Trans........ Brooklyn-Manhattan
Northern Pacific... 131 Pacific Gas & Elec, 27) Pacific Lighting
134
March
18.35b/39a 18.28/25
16.35/35
unch.
271
May
16:43b/470
16.42/42
.01 of
39 387
Sales for the day-
1.950 tons.
Packard Motors
51
51
124 101
Paramount Pictures 104
101
CHICAGO WHEAT
Pennsylvania R.R...
.211
21..
324
Zoong Sings (8.).......
San Mauricio, 49
$6 cum. pf.
31.. -30)*
Phillips Petroleum... 427
421
September
€21/621
621/621
$42
Wing On Textiles (8.)
United "Paracales. 132
Canadian Pacine
67
'61
Public Service of NJ. 35
303
December
******
$31
#11 10
月
$00%
::
$24
$60+
Public Utilities
17 TramwaƑD --****
178
Peak Trams (old).....
Peak Trams (new).............. Star Parrios
14Y'mati Ferrios C.R.S
318
Do
China Lights (old)...
China Lights (car).....
H.K. Electrici
Macao Electrica
Sandakan Lights
$26.8 Telephones (old)...
$9,80 Telephones (new)...........
Case. JI.....
99
94
Pure Oll .....
117
11
May
641/641 ... 648/641 €71/67+
631/631 651/851
48/677
៩៩ ម.
up
$171
THE EXCHANGE Chrysler Corpn.....
Chesapeake & Ohio 321
321
Radio Corpn. of Am.
2H
Monday's Sales:-
25,338,000 bushels.
73
73)
Republic Steel ...... 19
191
Columbla Gas & El
71
7
Reynold Tobac. "B" "434
437
CHICAGO CORN
ax.div. $77)
$30
(Dew)
$324
18
$804
$27
26/3
Tractions
28/3
Tractions (prof.)
17.
3.80
125.20
-Industrials
314 Caldi, Macg (Ord)S.
$1.70 Canton lea
31 Comenta
Ropos
Consolidated"
China Prov. (old)....................
China Prov. (new)................
Miscellaneous
Dairy Farma
Ch. E'tainment $6.55
Constructions (old).....
Constructions (now)..........
88.70 Lane Crawfords.......
Nanyang Tobacco
፧፧
214
Cald., Macg. (Prst.) 8.
$1,80
$18.65
$410
$7.00
$8.80
7f8..
$25+
Idle..
#T
$9.80. 246
MARKET
MESSRS. "ROZA BROS.
Silver prices rose 1/8 yesterday for both deliveries, the quotations being 19 1/2 for Ready and 19 3/8 for Forward. Suver advices re- ported the market as being steady. India bought. Later the market featureless, closing on the quier side. American Silver
was quoted at 42 3/4 for Spot.
was
The London-New York cross- rate was quoted
487.50. New York-London was quoted at 487
Commonwealth & S Commonwealth & 8
6% cum pi......... Consolidated Edison Consolidated C1 Continental Can. Continental Oll Cora." Products
Curtiss Wright (C.)) Castigs Wright "A" Distillen Corpn. Bes•:*
grains......
Columbia 6% “A” pf. Commercial Credit...
641*
67
Schenley
191
194
499
491
Schenley, 51% ptd... 78
TO
September
501/50
50/501
51/511
קט
过
11
Sears Roebuck
741
74
December
482/481
48/477
482/49
up
Shell Union Oil
171
167
May
501/509
517/513
11 up
971 23
371
Socony-Vacuum Oil: 15
154
281
Southern Pacific
201
201
WINNIPEG WHEAT
101 10
Southern Rly $5 píd.
19
194
October
71/712
71/72
72/721
-461
484
Standard Brands ....
91
-81
December
704/708
702/711-
35
342
Stand Gas & Elec
41
711/711
May
731/731
691
69:
74/74.
53 51
Standard Oll of NJ 571 Stone & Webster.....
- 501
101
101
231: **231
NEW YORK STRAITS TIN
Swift International 273 Technicolor
271
244.
24
September ..
43.65 Nom. 42.95b/43.450 43.35 Nomi
"
181
Douglas Aircraft
51
501
132
131
Du Pont
do.
Texas Gulf Sulphur 371 20th Cent. Fox. Films 25%
Films pt....
368
-251
NY Silver, Official... 42-3/4 NT-L'don Cross Rate... 4.38-1/8
42-3/4
4.87-7/8
331*
*331*
11.
11
Eagle Picher Lead
Union
Carbide " &
84
.81"
-Elec. -Bond & Share
Carbon
851 842
·
MARKET
H
Elec. Bond & Share
$5. pt.
Union Facialc
88
92
511*
51
United Aircraft .......
281
28
*#6.95 Vibro Piling
$2.20 Bogres
Watson.........................................
$7.40
Ch. G.5% 1925G.$Bda.
67%
ber.
H. Gort 4% Loans ($1057
H.E. Govt. 81% Loans
$101
There
960 H., Wing Co.....
350
B'hai Wing On... hair | 951
$0.40
128Marsmaga Int. (Lon.)
3/3 Marsmans Inv. (H.K.)
170 ct.
170 eta WOL Powalls
"Bales to Changbai
LONDON EXCHANGE RATES
August 6
STERLING There were sellers at 1/3 August-September. possibly Octo- ber and 1/2 31/32 November- December. buyers at 1/3 1/32 Cash-September and 1/3 Decem-
U.S. DOLLARS"
sellers at 30 1/2 were
August-September and 30.7/18 October-November, buyers at 30 9/16 Cash-September and 30 1/2 October-November.
SHANGHAI DOLLARS
186 3/4 sellers..
SHANGHAI MARKET Sterling, sellers 8.1/84. 18$; sellers 10.9/32.
Elec. Bond & Share
$8 pt.
United Airlines.Trans 91
91
564
$9
Elec. Power & Light
$7 pt. Flintkote
401 39 231 23
United Corpn. 561
United Corpn. $3 cum. pt. .......
27
21
311
312
United das Corpn. 4
4
ין
Gen. America Trans 50 Gen. Electric Gen. MotorS
474
Un. Gas Iprovem' 101
101
COMMODITY MARKET
(FROM PAYNE & CO.)
SINGAPORE RUBBER
REVIEW
431
43
U.S. Rubber
451
474
471
48
US. Rubber pl.
BB
904.
Gen Railway Signal 22 Gildden Co. Goodrich (B.F) Goodrich $5 pf. Goodyear Tire & Co. 281 Great Northern Iron
21}
US. Steel..................
-60A
601
241 .24
Vanadium stealin, 201
201
SPOT
25 251
Warner Bros. Pict.....
B
OCT.-DEC.
59**
581
291
1
Lore
14 131 Great Northern R. 23
1 ex. div.
Westinghouse Elec. 1041; 103 Woodward Iron Cor. 201. 20 Chase National B 324* 321* National City Bank 251* 25g* Call Money
1% 1%
• bid.
JAN.-MARCH
August 8 buyers sellers
August 9. buyers sellers
change
28-1/4 26-1/2
28-1/4 26-1/2 · unch.
27-3/4 28
Parts
Geneva
Berlin
21.44]
(British Wireless Service)
August 2
178-3/16
12.23
178-25/64 21.39 12.201
Athens
Milan
93 3/18
93
Copenhagen
Stockholm
19.391
ejd
4:90,9/18
4.89-5/16
8.95 15/16
8.95-7/8"
Prague
142
143-13/16
Helsingfors
2264
Bucharest
670
Hong Kong
1/2 31/32
Bombay
1/5 29/32
Montreal
Brussels
4.01 29.00)
Shanghai
New York
Amsterdam
Vienna
Yokohama,
Sellers
Buenos Aires
Monte Video
Rio
Silver (Forward)
Suver (Spot)"
War Loan
ON LONDON:-
188 81 204
2-27/32
19-7/16. 19-9/16 ....31% 1021.
Closing Quotations
August 10, 1938.
Telegraphic Transfer...14 Bank Bills, on demand Credits, 4 motitlis' night_1/ất
UN NHANGHAI:-"
On demand
ON BINGAPORE:
·On demand
OM JAPAN:-
On demand
Telegraphia-Hennel Bark, on demand
10 Đ
14.04
28.921
19-6/18 19-7/18
ON NEW YORK:-:
*Bark "Bills, "on "demand '301: Credita, 60 days' sighi 201 ON BATAVIA
On demand............. 561 ON PARI:-
Bark Bills, on demand. 1,005 Credits, 4 months' sight: 1,180
ON SAIGON:
On demand
Ox MANILA:
On demand
On demand.....
Sovereign Notes
"OF BANGKOK :-
Ar-Bank Buying Rats.
109
BOL
ri
1/2-1/16
101
Harris &
THROUGH PAYNES
. & CO.
CONSPECTUS OF THE COTTON MARKET
Since, the last issue of our Con- spectus the market has £uctuated at times rather actively, but within a fairly limited range, displaying
uneed
Vose Cotton
fact remains that there can be no actual scarcity of cotton during the next crop year. Aside from the floating supply, there is op- proximately seven million bales held in Government Loans, of which, five million bales could be withdrawn on the basis of around 10 cents for middling 7/8ths.
POTENT FACTORS Therefore, the most potent price an underlying strength around 8.60 factors at this writing appear to with a tendency around 9 cents to be, not the normal ones of Produce await the first Government Croption and Consumption, but rather estimate. In past years the first the Administration's loan policy. Government estimate has brought and the price attitude of the own- the market some stunning surpri- | ses; hence, it is natural that crop ers of more than five million bales ideas, will not crystallize very much lodged in this past season's loan. until the official figures are anno- Under the law a loan must be We doubt present trade made available if the indicated views of the prospect are mich production on August. 1 is in different from what they were a excess of the five year average of few weeks ago. The conditionis domestic consumption plus exports. certainly not poor. but on the It is unlikely a loan will become other hand is admittedly not as mandatory under this provision of good as that of a year ago. Our the law. However, if at any time. thought is that present guesses after August 1, the average price would be between eleven and in the ten designated markets twelve million bales.
should drop below approximately During the past month there 832 cents for midding 7/8ths, a has been a much better demand loan must be made available at not. for goods in this country which less than this approximate price should have materially improved and not above approximately 12 the mills position. As the "Spend conta. Entirely aside from the law ing Programme" progresses, it is itself. the President has discretion reasonable to anticipate a further to make a loan available whenever and at such price as he may see fit. increase in mill operations,
LOAN ON NEW CROP
However, whether the crop even- tually turns out a million or so less
The ticker this morning has car or the consumption eventually ried an item to the effect that proves a million or so more, the officials of the Department of Agrl-
Report
27-1/8 27-3/8 - 27-1/8 ̧ ̈27-3/8
27-3/4 28
Responding to steady advices received from London and New York the market opened with prices unchanged for all deliveries 'as compared with Monday's closing, quotations. "
After the opening the market displayed a quiet and dull under- tone. Whilst demand for "spot" Rubber was fair, dealers and specu- lators preferred to exercise caution in view of lower Becurity and commodity markets in USA, coupled with uncertainties surrounding the Far Eastern political situation, although the outlook for increas- ed Rubber-Consumption, particularly, in US.A.. Continues to be bright. Reports from London and New York seem to indicate that any setbacks would be only temporary and should be utilized for further accumulation in view of defnite signs of a fair improve- ment in general business-activities in US.A. with resultant higher Rubber-markets.
Later in the session rates for forward options registered a slight decline of 1/8 dent. quotations for "spot" Rubber, however, remaining unchanged..
Towards the close of the session, however, the market recovered, this setback, closing with a steady undertone.
culture have indicated their desire to avoid a loan on the new crop unless it should become mandatory under the law, find that in such event their policy would be to hold it to the minimum required under the law, as has been done in the! gral loan. While this news item. may reflect the present wishes, and polley of the Administration we conceive, it quite, possible economic conditions or political expediency their views. may result in a modification of
S POT There is a sharp distinction, be-OCT-DEC. tween a minimum Joan on a huge JAN-MARCH grain crop and a minimum loan on
a relatively small cotton crop, the very smaliness of which is the re- ault of the 'Administration's Farm Programme. If the farmers
LONDON RUBBEL
--Previous close Today's close" buyera sellera buyers. sellers 7-13/18 7-15/16 7-7/8 7-15/16- 7-15/18 8.. 7-15/16 8 * 8
change
up 1/16
unch. unch.
8-1/8 -8
-4-1/18
Market firmer on few buying orders and better American
vices.
NEW YORK COTTON
་ ་ ་ ་
are denied a loan and forced Trading was early inactive and prices, declined following on low- to market small crop ater Liverpool cables, over-night liquidation and foreign selling. Later,, a price less than the with when contracts became scarcer, prices partially rallied on Trade drawal cost of the lean made buying and covering and the market finally steadied on the improve- this past season of a crop of nearly ment in securities. nineteen, million bales, their cha grin may, express itself in the No- vember, elections.
MARKET AVERAGE
It is interesting to note that with a crop, of even thirteen million bales and a consumption of only ten and a half million bales not more than two and a half málion bales would lodge in a new loan. The difference in the cast to the Government between an 81 cent and a 104 cent loan on this two and a half million bales would come to
(Continued on Fure 13)
NEW YORK RUBBER
The early unencouraging action of the stock market and lower reports from the primary markets caused a lower opening here, with prices declining further on moderate commission house liquida-- tion and dealer selling, This, however, was absorbed by "horts" on the scale down and the market finally rallied on a renewal of fac-. tory interest in "actuala.”
CHICAGO WHEAT
There was firm support from the opening which was accredited to millers and exportern., East reports from parts of Canada and the strength of corn prices, were further factors for armness.” Less favourable developments included the threatening Far Eastern Kind
tion, and good weather and crop news from Europe.