$1,440 £88
Do. (London)
$1,440
EAT
£19
Chartered Banks
£181
£98
Mercantile Bka. "A"
£28
£13
Bank of East Asia ... N. C. & 8. Banks.....
InsurancES
888
.
13
$290
$225
Canton Insurances...................
3500
Union Insurances ...............
58
1+
Underwriters skinach
3310
$205
H.E. Fire
Steady.
PAGE 12-HONG KONG DAILY PRESS
DAILY SHARE QUOTATIONS Hong Kong Stock
Exchange
Day Balboa Baloa
Nominal
TUESDAY, AUGUST 16.
$495
****
Bazka
H.I. Banka.................
Sharebrokers' Association
£13 Marcastia Bks. "C"
Mayer Sellers Bale Nominal
THE EXCHANGE MARKET
MESSRS. ROZA BROS.
Silver prices dropped 1/8 yester- day for both deliveries, the quota- tions being 19 7/16 for Ready and 19 5/16 for Forward. Silver "ad- vices reported Speculators as hay- ing sold. Support was poor. The market was quiet but steady. American Silver was quoted at 42 3/4 for Spot.
The London-New York Cross- rate was quoted at 487.25. New York-London was quoted at 487. 3/18.
FINANCE
NEW YORK STOCK EXCHANGE
1938
(Through Renter's Service)
QUOTATIONS
High Low Dow Jones Averages, 145.67 $8.95 so Industrial
39.77 19.00 20 Raile
22.50 10.14 20 Usill 99.70 83.39 Bonds
59.00 43.0% 11 Commodity Index unquoted
#
Aug. 13
130.21
27.57
19.43
19.69, 19.31 19.41
99.07*
Aug. 19, 1938, High Low Close Chang 138.20 138.45 19688
77 up 29.10 27.56 27.78
.18 up .02 off .13 off
WEDNESDAY, AUGUST 17, 1938
PAYNE & CO.
COMMODITY BROKERS
STOCK EXCHANGE BUILDING
HONG KONG
88.91 43:43
New York Commodity
Business Done:-680,000 shares.
STOCKS
Last Sale
STOCKS
Last Sale
fc
Aug. 13 15
Aug. 13 15
Adams Expresa
100
10
Great Western Sugar .264
26 *
jagkaka
MARKET
Alleghany Steel Co.
18
171
Greyhound
Corpa.
161
181
Shipping
$75
¢
Douglasar
me
23
$22
Blombosis
180
Indo-Chinas (Pruf.)....
801
124
Indo-Chinas (Del.)................
$24
90/7
90/7
Shells
19
Waterbosts
$9,10
1/32 Cash-September
Mining
December-January.
16/0
16/
Kailan......
10
STERLING
There were sellers at 1/3 August-November and 1/2 91/92 December-January, buyers at 1/3
U.S. DOLLARS
Allis Chalmers ......... Amer. Can
48
481
Becker Products
New York, August 15.
56 *
IF
Int. Nickel ***
481
481
¡
Amer. & For Power
3
13
Int. Tel & Tel.......
94
8;
New York Cotton
Market
(THROUGH REUTER'S SERVICE)
High Low Close Close Change October 8.18 8.10 8.13 8.15 02 up
Prev. Today's
Amer. & For! 57 på 181
183
Kennecott Copper
391
39.
New York Rubber
Sept.
Amer. Locomotive..." 194
20
Libbey. Owens- Ford
Chicago Whèat
Sept.
and
1/8
Amer. Metals
331
33
Olass
441
451
Chicago Corn
Sept.
501
**
Amer. Radiator
147
141
Lockheed Aircraft
141
141
Winnipeg Wheat
October
16.00 15.80 15.30 15.88, 10 of 81 601 811 40* it ou 511
512 50% 1 oft 80287
2 oft
"Amer. Rolling Mill...
181
181
Loew's Inc.
461
461
Haube .......
83
10
$19
$361
$8.88
3381/1
#!
83,56 $3.4
$129
$3,45
Venerusia Gold Fida
17 cls. Hong Kong Mine......
Docks, Wharves,
'Godowns, ets.
H.K. & E Wharves...
Providente (old)...............!
| Providenta (new).jssen H.K. & W. Docks....
Do.
3120 Shanghai Doska B..... 33.90 New Engineerings 8.
Lands, Hotels, and Building
H.R. Hobole................................. H.E. Lands...........
$107 Do. 4% Debentures $40 Shangha: Lande 6. $0.85 F.K. Bosition p......... $0.35 Humphreyə ........................ $100 Chinese Estates
Cotton Mil
$19.40 Ewa (8.) ............ $98 S'hal Cotton (8.)
$34 Zoong Sings" (6.)
$9
There were sellers at 30 7/16 August November and 30 3/8 De- cember-January. buyers at 30 9/16
Amer. Smelting
48
45)
Martin, Glen L
221
22}
Amer. Sugar Ring ...
231
23
McKesson
&
Rob-
Amer. Tel. & Tel
1401
1401
hina. $3 pf. ...............
341
341
NEW YORK COTTON"
Close
Opening
Closing
Change
Amer. Tobacco "B"
861
80
Monsanto Chemical 91
91
October ...
8.13/13
8.13/12
8.15/10
.02 Up
$128
Cash-August and 30 1/2 Septem-Amer. Waterworks...
91
107
Montgomery Ward... 451
45
December
8.21/22
8.20/20
8.24/24
.03 up
ber-October.
"Anaconda Copper
331
331
Nat. Dairy Products 151*
151
January (1939)
8.22/22
8.21/21
8.24 N
.03 up
$3,10
33.45
SHANGHAI DOLLARS
Atchison. T. & 5. Fe.
313
344
Nat. Distillers"
24
241
March
(%)
8.24/24
8.23/24
.. 8.27/27
.03 up
8901
195 Nominal.
Auburn Motors
31
31
Nat. Power & Light
st
May
8.21/21
8.26/26
8:19/29
02 up
$19
(DOW)
#125
14
$6.85 $381
$81
104
$107
::::
$6.70
$0.30
$42
$11 10
$9 #001
11:
'
$78
$24
$17.10
17.05/100 v. Tramways agai
Peak Trims (old)...... | 14)
Feak Tram (now).....................
Star Ferries.........
$24'mati Ferries C.R.$
$6.70
#94
Sandakan Lights
Telephones (old).
$0.60 Tulephones (new)......
20/3 Tractions
Tractions pref.) ang
$10 $87
$244
Wing On Textiles (8.)
Public Utilities
317 lex.div.
· $78
Do.
(new)
Chins Lights (old).......
1252 $21 $11.10
China Lights (new)...........
H.K. Electrics ..............
8601
$18
facas Electrics
$26,80 $9.6) 24 6
$161
$4,30
$7.10
10,90
! :
$1.85
$251
Cemente
Ropes
Consolidated
Chins Prov. (1@W). Miscellaneous
Dairy Farms.........
$6 Ch. E'tainments
Constructicos (old)..... Constructions {Dew)....
$8.70 Lane Crawfords..........................
Nanyang Tobacco ................
26/0
Industrials
$14
Cald., Macg. (Ord) 8.
$14
Cald., Macg. (Prat.) 9.
$1.70 Canton lees
$16.60
241
Chins Prov. (old).....
$8.50
$8.55
$1.8Q.
SHANGHAI MARKET Sterling opened with sellers at 7. 61/64 and closed with sellers at 8.1/18 for Spot. U.S.$ opened with sellers at 15.13/16 and closed with sellers at 18.3/8 for Spot. A
IN THE AFTERNOON The market was steady in the afternoon.
STERLING
The market closed with sellers at 1/3 August-November and 1/2 31/32 December-January, buyers at 1/3 1/32 Cash-September and 1/3 December-January.
U.S. DOLLARS Sellers at 30 7/18 August-De- sember and 30 3/8 January-Febru- ary, buyers at 30,9/18 Cash-Sep-† tember and 30 1/2 October-Novem- ber.
SHANGHAI DOLLARS 183 Nominal.
SHANGHAI MARKET Sterling opened with sellers at 8.1/16 and closed with sellers at 8.3/16 for Spot. US.S opened with sellers at 16.3/8 and closed with sellers at 16 6/8 for Spot.
Barnsdall Oui .... Bethlehem Steel
Corn. Products Curtiss Wright (C) 5 Curtiss Wright "A" 221 Distillers Corpn. Sea-..
Baltimore & Ohio ...
81
#1
Nat Supply Corpn.
17
17
July
()
8.29/29
3.29/29
8.31/31
Barber & Co."
187
181
New York Central...
171
171
Spot
8,25
8.37
.02 up
171
173
N. America Aviation
H
91
541
55
North America Co. 191
20.
NEW YORK RUBBER
Boeing Airplane Co. Borg-Warner ......... Briggs Mfacturing. 314 Brooklyn-Manhattan Y
Trans. .....
93 Brooklyn-Manhattan
$8 cum...pt. Canadian Pacific Case. J.L
251
261
Northern Pacifie
111
11
TE
301
"301
Pacific Gas & Elec
37
27..
Beptember
314
Pacific Lighting
38*
38
December
15.96b/16.00 16.14/16
Packard Motors ....
5
51
March
16.22b/25a
15.78b/85a 15.98/99 16,07/07
15.88/88
10 off
15.99/16,00. 15 ok
91
Paramount Pictures
'87"
91
May
16.30b/33a.
16.08b/15a 18.15b/20a
. .14 off
15 O
Pennsylvania R.R...
20
193
Today's sales:-
1,120 tons.
307 -301*
61
Phillips Petroleum ...
391
391
Public Service of N.J.
291
29
CHICAGO WHEAT
Chesapeake & Ohio 291 Chrysler Corpa....... 681 Columbia Gas & El 63 Columbia 6% "A" pt. 631" Commercial. Credit... 483 Commonwealth & B Commonwealth & 5.
6% cum pí. Consolidated Edison 253
87+ 87
201 671
Pure 09
101
104
Radio Corpn. of Am.
61
7
September
61+/81
December
Republic Stee! ..
171
171
04/037
812/614 64/84
601/604 62#/623
1 of
May
64
Reynold Tobac. "9"
413
67/667
651/651
Saturday's Sales:-
631*
Schenley
174"
173
13,580,000 bushels.
47+
Schenley, 54% pfd...
74 *
74 *
CHICAGO CORN
11
Seara Roebuck
691
693.
Shell Union Oll
151
16
September
512/511
51/514
500/501
11 of
36
351
3ocony-Vacuum ou
141
147
December
481/484
481/48t
472/477
11 Oc
251
Southern Pacific
17)
174
May
511/511
50₤/504
11 o
Consolidated C11
91
91
Southern Rly $5 pfd.
17
181
Continental Can
437
44+
Standard Brands ....
73"
.8
WINNIPEG WHEAT
„
Continental Of "
32
32
Stand Gas " &
Elec.
34
34
68
63
Standard Oil of N.J.
531
531
October
692/891
601/881
874/877
oft
5)
Stone & Webster
0
9..
December
68/681
48/671
..651/66
21 of
221
Swift
International
283 261
May
711/711
087/687
24 of
:
Technicolor
221
224
grama ................... Douglas Aircraft
151
15
Texas Gulf Sulphur
35
351
NEW YORK STRAITS TIN
471
48
2th Cent. Fox. Fim
24
ZA
September
43.00 Nom. 42.85b/43.10a 42.90h/95a
*
$1.60
Du Pont ...........1228
120
do. Films pf.
321
321*
***
NY.Silver, Official ...... 42-3/4
42-3/4
Eagle Picher Lead 91- Elec. Bead & Share
101
Union Carbide &
NY-L'don Grass Rate... 4.87-5/16
4.87-3/16
74
7
Carton
702
734
::
17.00
$8.90
EXCHANGE
$20.1
,"
H.K. STOCK
Elec. Bond & Share
Union Pacific
88
$5 pf......
50
481*
United Aircraft ........
+261
261
Elec. Bond & Share
United Airlines Trans
0
કર
+
$6. pf.
53
521*
United Corpn.
21
21
Elec. Power & Light
United Corpn. $3
$7. pt....
35 *
35)
cum. pf.
304
31
$2.20 Sincere
$7.05
37.60
Watsona
YESTERDAY'S
OFFICIAL QUOTATIONS.
Fulrose
201
201
United Gas Corpn.
31
37
Gen. America Trans 48
49
Un. Gas Iprovemt
10
101
Gen. Electric.........
393
40
U.S. Rubber
........ 421
43
Gen. Motors
441
45
US. Rubber pí.
851
831
COMMODITY MARKET REVIEW.
(FROM PAYNE & CO.)
SINGAPORE RUBBER
$7.45
Ch. €1.5% 1925G.#Bds.
87%
51%.pm
H.K. Gert, 1% Lo $100
4pm
E. Gest. 91% Loans
$1011
350
H.K. Wing On
160
An upward turn in the market resulted in increased activity with buyers predominating.
Gen." Railway Signal 184«.
20
U.S. Steel
561
57
Glidden Co.
22
221
Vanadium
181
18+
Goodrich (BF..
227
224
Warner Bros. Pict...
6
B
S P O T
Goodrich 55 pt.
551
551
Westinghouse Elec. 97
99
OCT. DEC.
B'bai Vung
On
151
Goodyear Tire & Co.
26
261
Woodward Iron Cor. 184
10
JAN. MARCH
August 18
buyers
sellers
August 16 buyers sellers
28-1/4
26-1/2
26-1/8 26-3/8
change
off 1/8
..... 77.
27-1/4
26-3/4 27
of 1/4
off 1/4
$6,40
Great Northern Iron
Ore
121
12j*
Great Northern Rly. 20
201
Call Money
ter. div.
Chase National Bk. 31*
25* National City Bank » 241".
1% 1%
• bid.
31*
$5.85 Vibro Piling
11/10) Marsmans Inv." (Lop.).
3/3 Marsmans Inv. (H.K.)
70 ate Wm. Powali
Bales to Shanghai
LONDON EXCHANGE
Paris
Geneva
Berlin
Athens
Milan
Copenhagen
Stockholm
Shanghai Now York Amsterdam Vienna
Prague Helsingfors Bucharest
.
(British Wireless Service)
August 10 178-57/64
170 cta.
RATES
August 13 178-57/64 21.28 12.15-
21.33
1217
93
92-9/16
18.73
Båd
4.88-3/16
+4.871
8.951
8.933
1411
1421
2261:
670
Hong Kong
1/2 31/32
Bombay
1/6 20/32
Montreal
4.901.
Brussels
28.991
4.891 28.06
Yokohama
Bellers
Buenos Aires
Monte Video
Rio.....
3liver (Forward)
Silver (Spot)
War Loan
ON LONDON:-
18.8 64
18.871
20.
2-27/32
19-7/16.
19-9/16
19-7/18. 19-9/16
34% 1027.
Closing Quotations
August 16, 1935.
Telegraphic. Transfer....
1/2
Bank Bills, on demand Credits, 4 months' sight 1/3)
ON SHANGHAI :~~
On demand
ON SINGAPORE:---
On demand
US JAPAN Um
On demand
EX INDIA
Telegraphic Transfer... bank no demand
170 nom,
1081
ON NEW YORK:-
Bank Bills, on demand, 30-3/14 Credits, 60 days" "kight ‘2011/18 UN BATATZA 2----
On demand..... 60-6/18 ON PARIB:
Bank Bills, on demand 1,095 Crédits, 4 months' sight 1,180 ON SAIGON:-
On demand
ON MANILA-
BUYERS
Hong Kong Bank, $1,440, Hong Kong (London), £88. Union Insurance, $497.
H.K. Fue Ins., $2071.
Union Waterboats, $9.10.
H.K. and K. Wharves, $128). H.K. Docks (Old), $201. 'H.K. Docks (New), $191. Providents (O), 3.60. Providents (New), $34. Hi and S. Hotels, $6.85. H.K. Lands, 384.
H.K. Realties, $57. HK. Tramways, $17.15. Peak Trams (Old), $62, China Lights. (Old), $11.15. China Lights (New), $8, H.K. Electrics, $604, Telephones (Old), $26.70. Cements. $17.10. HK. Ropes, $4.40. ́ ́ Dalry Farm. $25.30, Watsons, $7.70.
Constructions, $1.00.
H.K. Govt. 4 per cent., Loan, 51
per cent. pm.
Consolidated Ch. Prov. (O), $7,20. Consolidated Ch. Prov. (N), $T.
SELLERS
H. and S. Hotels, $6.95. HK Tramways, $17.30. Dairy Farm, $25.50, Watsons, $7.85.
BALES
Providents (O), $3.80. Raubs, $10/10.10.
HL and S. Hotels, $6.85, H.K. Tramways, $17.15/20. Telephones (Old), $28.80. Dairy Farm, $25.25.
Watsons, $7.80/70. Consolidated Ch. Prov. (O), $7,20. "(Prices below in Phil. Carrency)
Antamoks, Ps. 383.
Atoks, .824.
109
Baguio Gold, .21.
On demand women · 602 ON BANGEDK:-
On demand 1499. Sovereign Notén
Bank Buying Rate..... 1/3-1/16
18-7/16
•}as1/16 | mas cover, DET TE
Benguet Consol.. 11.30. Coco Grove, 45.
Consolidated Mines, 004 Demonstrations, 27, Paricale Gumaus, 13. Ban Mauricio, 53. · United Paracales, 32.
NATIVE SUGAR
IN DEMAND
A survey of the local sugar max- ket shows that the native Chinese product is enjoying a steady de- mand here. It is estimated that the total value of business done last year was about $875,000,
Most of the Chinese sugar sold locally comes from South China, bus production has within recent. months not been sufficient to meet the demand, as refineries have had to curtail work on account of fre- quent Japanese air raids.
Formosan sugar has been forced out of the market owing to the refusal of dealers to handle Ja- panese products."
B.K. SHAREBROKERS' ASSOCIATION
BUYERS
HK Banks, $1440." Providents (o), $3.55. HK Docks (0), $20. H.K, Docks (n) $19. Hotels, $6.80. China Lights (n), $8. Electrics, $604. Cements, $17. Ropes, 14.30. Entertainments, $6.55. Constructions, $1.85. Watsons, $7.60, Antamoka, 30.BY.
SELLERS
Y. Ferrics, $25.
SALES
Hotels, $6.85.
HIGHWAYS IN WEST CHINA
Will Be Ready In October
(By Air Mall From Our Chungking Correspondent)
"All public highways running from important Szecbuen LOWIS like Chengtuand Chungking to similar points in Yunnan, Kwelchow, Shansi, Hunan, and Hupeh will be ready for traffic in October, according to an
announce- ment issued by the Central military authorities.
27-5/8 27-7/8 21-3/8 21-5/8
The market opened 1/8 of a cent lower for all deliveries as 'com- pared with Saturday's closing rates.
After the opening the market displayed a quiet and doll undertone, whilst, dealers and speculators were inclined to remain on side-lines due to the Rubber Exchanges, both in London and New... [ York. having been closed on Saturday, as usual during the summer.
season.
some
Later in the session the market turned slightly easier due to the unsettled political situation in Europe. Proat-taking and speculative selling were responsible for prices registering a further decline of 1/8 "cent for all deliveries. The American · Statistical Figures for July, announced during the session, were regarded as bullish, but had no effect on the market. However, there was no particular selling-pressure and the market closed with a quiet under-
American Statistical Figures for July were published as follows:
tone.
Consumption in USA.
Imports into UB.A.
Stocks in U.S.A. at end of month, Shipments afloat at end of month
SPOT...
Since March army engineers OCT.-DEC. have been' Inspecting Szechuen; JAN.-MARCH and other inter-provincial lines of communication.
Motor travel between Chungking and Kumming, Yunnan, via Kwety- yang (Kwelchow) has been put under direct Central military con-
of
LONDON RUBBER
1938
July
32,209
June 30,629 tons
22.918
28.011
284.914, 294.568
40,400
32,079
Previous close Today's close
· buyers sellers
buyers
sellers change
7-3/4 7-7/8 7-3/4 7-13/16 unch
7-13/16 7-15/16 7-13/16 7-15/16
... 7-15/16 8 Market quietly steady...
7-15/16 8
Rubber stocks held in the United Kingdom showed an increase 1540 tons for the week ending August 15, 1938.
NEW YORK COTTON
The market early sagged to new" "lows" on Liverpool and Bombay
trol, while the China Travel Ber-selling and on hedge-pressure, but later steadied up in sympathy:
vice has been asked to open a few hostels en route for tourists.
RAUB MINES OUTPUT
The Hong Kong Stock Exchange has received the following cable from the Raub Australian Gold
Mining Co
-Battery
Tailings
Report No. 536
Tons oza. 7 025, 5,075 1841. Fine 1557 6,435 140 Fine 677.
with stocks, reports of unfavourable rains in the Central Belt and of a tropical storm in Louisiana. Later, there was a further dull spell on uncertainty over the foreign political situation, but the market finally rallied again and prices closed steady.
NEW YORK RUBBELL
Lower cables from London and Malaya sent prices on the down- grade and the market declined further on liquidation caused by the disappointing consumption figures for July, which were much lower than had been expected. Towards the close, there was a partial re- covery on low tire inventories and short-covering by the Trade.
[CHICAGO`WHEAT
Prices sagged to a new season's low on liquidation caused by rains Over the Canadian prairies, reports of large Russian offerings abroad. 2234 and favourable "advices of other countries" "crops," "An estimate of the Canadian crop shows" 350,000,000 bushels. The excessive suppiles available for World consumption is at present over-shadowing all other factors.
2781
This includes 130- rzs, frozá Grinding Sections.