"
$1,480)
1,480/86
£01. £89
£10
£39
£13)
Bank of East Asin .... N. C. & 8. Banks..... Insuran.com
12
PAGE 12 HONGKONG DAILY PRESS
DAILY SHARE QUOTATIONS
Sharebrokers" Hong Kong, Stock Exchange
Association
Bayars; Ballets
Sales
Moulat
FRIDAY, ост. 7.
Bayers liora
Ba
Monius
$1,480 $1,470, $1,468)
Banks
K.K. Banki...
Do. (Col itag.) ..... |
290 Do. (Lion, Beg.).............!
2103 Chartered Banks
£39 Mercantile Kks. "A"
£13 Maronails Blz. “C”*
FINANCE
| POWERS OF BANK NEW YORK STOCK EXCHANGE
OF FRANCE
New Decree Gives Greater Freedom
The Bank of France has been granted, powers somewhat similar, to those possessed by other central banks to operate in the open market. Under the authority of a decree issued in July, The Bank of Francg may- buy or sell commercial paper government and short
term
1932-
(Through Beuter's Service)
High Low Dow Jones Averages. 14567 88.8 50 IndustrZİK İS
92.70 83.39 40 Bands
QUOTATIONS
Oat, 3.
145.89
32.77 19.00 20Baile
29.48
32,55 16.14 20 Utilition
30.7+
Oct. 7, 1938. Hign Low Vlore Launc 18048 147.70 148.30 12 0
Jy up 30.71 99.70 29.88
.03 of 21.18 20.63 10,71
89.51
39,50
Di up
18.00 45.03 11 Commodity Index 48.05
48.13.05 up
Business Dono:-2,450,1% sharen.
SATURDAY, OCTOBER 8, 1938.
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONG KONG
COMMODITY MÄRKET REVIEW
(FROM PAYNE & CO.)
STOCKE
Last Bale
STOCKS
Last Sale
bonds.
Oct. 5 6
Oct. 5 8
#285
1920
Chalon Insurance, ................
Union IngarRDONE -----
$310
| Underwritats par sampun
1900 H.K. Fires
19 1900
term.
Shipping
168) Elouglases van
$081
ཏེ
8198/2/0.15
$10
$00
Steambosis a Indo-Chinas (Pral.)....
20
$3
124
09/74 Shall
Waterboats
17/0 Kailan
$9.76 Rauba
Mining
Venezuels Gold Fida
7 cts. Hong Kong Minas......
Godowns, elő.
Indo-Chinas (Del.)......
24
90/7
The new powers thus conferred do not include the right to buy and sell governments of longer It is generally recognized that these powers will give the bank additional means of regulat- |
market and the ing the money prospect of great elasticity is wel-
Adams Express
****
117
111
Great Western Sugar 28
281
Alleghany Steel Co. Allis Chalmers ....... Amerada Corps. ... Amer. Can amer, & For. Power
171
183
Greyhound
Corpo. 183
18
521
521
Hecker Froducts.
81
.81*
701
711
Int. Nickel
52
531
SPOT
102
102
Int. Tel. Tel.
113
111
JAN-MARCH
41
41
Kendecott Copper...
451
401
APR-JUNE,
SINGAPORE RUBBER
Oct. 5
Oct. 6
buyers
sellers
buyers sellers
28-3/8
28-5/8
23-1/8 29-1/8
up 1/2
29-3/4
29
29-3/8 29-5/8
29
29-1/4
up 5/8 29-5/8" 29-7/8 up 5/8
Change
$9
17/6
翱
$3
$128
$6.80
$8.80
$19 H.K& W. Docka.... #19
Do. (new)
315 Shanghai Docks 8...... $3,90 New Engineerings 8.
Lands, Hotels, and Buildings
H.E. Hotels
H.X. Lands........8.
Do. 4% Dehutures
$8.40 Shanghai Lands 8.
FLK. Basiting
$9.60 Humphreys ...............
Chinese Estates
Lights (old)......
#101ns Lights (saw)...........)
H.K. Electrica..................
$17 Macao Electrica
Tractions)!
26/3 Tractions (pref.)
Docks, Wharves,
H.K. & K. Wharves... Providenta (old)......................... Providente (new)......
$128 $7
$129 $1284
$8.80
$194 $183
$120
434
A
$705
$7.10
$7:05
$7.05
1381
-438)
$106
$10
85.20
$5.90
$91
198
Cotton MUL
181
Ewos (8.)
#13! 800
$97
S'hai Cottona (8.)
$24
Wing On Textilas (8.)
Zoong Sing (8.) ...................
$42
Public Utiliti.
417.
$17,05
$17.90
$17
Tramways
approver
$!
Peak Trams (old)......
$3)
Peak Trama (poW),------
41
$77
Star Ferrian
#77
ZAŁ
I'mati
$231
Do,
$11.10 $11.30 $11.20,
959
China
Ferria C.B.
(DOW)
$348 $2.14
$11.10
$11.20
$10.60
$59
859) $39
$10
Sandakan Lightsa „or
$20
Talephones (old).
#251
ww
Telephones (new)..............
15/
a
មក !!
Industrials
$14
Cald., Macg. (Ord) B.
$13 Cald., Macg. (Prof.) 8.
| $1.70 Canton Ices .....
$1.80
$17.20 Camenta
$4.35 Ropes
$17.20
$4
come.
The Bank of France has long been peculiarly adapted to serve business of the typical small France. Its branches are found throughout the country and credit is made, available to small trades people in every village and-hamlet. Cn the other hand, however, it has not been an institution well adapted to helping the government finance the heavy load of debt which re- sulted from the War, and from re- habilitation.
ADVERSE COMMENT Throughout the period of world deflation, most of the adverse comment upon the failure of cen- tral banks to adopt positive mea
the check
"downward sures to trend, made special mention the exceptional rigidity of credit in France. The gold which accumu- lated during that period had no appreciable influence upon world there was nothing credit and which could be done about it until the regulations were changed,
Officers of other central banks used this situation as an excuse for failure to take more positive action. They said that liberal cre- dit policies in their own country would produce an outflow of gold and add to the accumulation in France
In the future, when The Bank of France wishes to act in harmony with other central banks, they will be in a better position to do so. The decree affords a further exam- ple of the world-wide recognition of the need for a greater degree of freedom and initiative on the part of central banks.
Boeing Airplane Co. 251 Borg-Warner Briggs M'facturing...361
Amer. A For. S7 pf. 244 Amer. Locomotive... 21j. Amer. Metals Amer. Radiator
201
Libbey Owens- Ford
207
Glass
$71.
56
387
37A
Lockheed Aircraft
15)
153
17
.171
Loew's Inc. ...........
53
531
Amer. Rolling Mill... 19 50 Amer. Smelting ............. Amer. Sugar Ring 23) 1461 Amer. Tel. & Tel Amer. Tobacco "" 899 Amer. Waterworks ... 'Anaconda Copper
atchison. T. & 8. Fe: 39 Auburn Motors
181
Martin Glen L ........
241
241
51
McKesson &
Rob-
243 1463
bins, $3 pf......... 351
35.
Monsanto Chemical 1002
983
891
Montgomery Ward 50
497
101
101
Nal. Dairy Products 141
14)
364
37
Nat Distillers
253
'25
38
Nat. Power & Light
71
71
41
43
Nat Supply Corp. 181
171
Baltimore & Onio...
"81
81
New York Central
191
194
Barber & Co.
221
214
N. America Aviation
97.
Barnsdall Of
181
171
North America Co. 213
21
Bethlehem Steel
42
01t.
Northern Pactic...
12
121
*
ป
251
Pacific Gas & Elec 271
272
Influenced by very steady conditions prevailing "in London and New York the market opened. 1/2 of a cent higher for all deliveries as compared with Wednesday's closing rates.
Throughout the session the market ruled steady to firm, "A special feature of the market was the keen enquiry for "spot" Rubber which also caused good, demand for forward positions by dealers and spe culatora. It was very difficult to transact business on the basis of .. quoted rates and such business as was done, could only be put through at prices well above quoted rates. It was reported that a moderate volume of business was transacted at as high a gure, as 29-7/8 cents for January-March options.
Subsequently prices gradually advanced by 1/4 cent for all de- iveries, the market closing with a steady undertone.
It is generally felt that higher prices may be confidently expect- ed due to the steady improvement of the statistical position as well as to the scarcity of "spot" Rubber in Singapore.
351
347
Pacific Lighting......
391
391
354
Packard Motors
5-1
51
of
Brooklyn-Manhattan
Trana.... Brooklyn-Manhattan
1
Paramount Pictures 113
12
10
118
Pennsylvania R.R... 20
201
Phillips Petroleum
42}
413
sa cum. pf."......................... Canadian Pacifc .......... Case. JI..terase
781 Chrysler Corpn. ................ Chesapeake & Ohio 331 Columbia Gas & FL "Columbia 6% "A" pf: 714 Commercial Credit. 52 Commonwealth & 8. Commonwealth & 8.
6% eum pf. Consolidated Edison 29 Consolidated Ci Continental Can .... Continental Oil Corn. Products
31
33
Public Service of N.J.
301
301
61
62
Pure Ol....
104
102
SPOT
984
98
Radio Corpn. of Am.
73
71
JAN.-MARCH
34
Republic Steel
19
191
APR.-JUNE
787
Reynold Tobac. "B" 431
431
71
71
Schenley
183
187
buying.
75
Schenley, 5% pfd...
71 *
71
521
Sears Roebuck
751
75%
11
11
Shell Union Oli
161
141
Socany-Vacuum Oil
148
141
"40
404
Southern Pacific
193
19.
281
Southern Rly $5 pfd.
211
21
.91
94
Standard Brands
71
74
46
45)
Stand Gas & Elec.
4
4
311
30
Standard Oil of NJ.
55"
541
701
70
Stone & Webster... 11
101
Curtiss Wright (C.) Cartina Wright "A" 233 Distillers Corp. Sea-
grams Douglas Aircraft Du Pont
52
51
Swift International 27
274
237
Technicolor-
231
. 221
457
441
Texas Corpn.......
16
163
Texas Gulf Sulphur,
351
.34
491
50
20th Cent. Fox.
27
**261 X
144
1424"
do. $li pf
354
351
Eagle Picher Lead
11}
111
Union Carbide
&
Elec. Bond & Share
B
8)
Carbon ....
86
86
Miscellaneous
Elec. Bond & Share
Union Paclic
951 941
Dairy Farms
imara,
$254
35 D1. .....
53
521
United Aircraft
287
291
Bt
Ch. E'tainments « $6.20
Elec. Bond & Share
United Airlines Trans 11
10%
$1
Constructions (old)........... |
şii
Constructions (now)....
Lane Crawfordik ......................
Naagang Tobacco.
$81
#:
Sinceres ..
THE EXCHANGE MARKET
$8 pi.
58
58
United Corpn.........
27
21
Market firm and active on Continental trade
NEW YORK COTTON
The market to-day was moderately active on Trade buying and the Armness of securities. Later, prices partially reacted on hedge- selling, with traders mostly on the side-lines awaiting publication of the Government Bureau report. Finally, the market again rallied on continued favourable reports from the Textile Trade.
T
NEW YORK RUBBER
Prices early went higher on bullish London and Singapore cables and advanced further on commission-house buying. The market later declined owing to lack of factory Interest, profit and larger primary offerings.
CHICAGO WHEAT
Continued high temperatures in the South-West, with resultant crop damage, caused a higher opening here, but prices later declined on liquidation and weaker advices from Winnipeg and the other mar- kets.
LONDON RUBBER
Previous" close
buyers
sellers
8-5/16
8-7/18-
8-1/2
8-1/2 8-6/16
Today's close buyers, sellers
1/18 8-1/2 up 8-3/8 8-3/8
.8-5/8 8-0/16
up 1/8 8-5/8 8-11/16 up 1/8;
Change,
and speculative
Elec. Power & Light
$7 pl.
United Corpn. $3
381
28
cum pla
324
321
Filatkote
283 23
United Gas Corpn.
51
$820
Watsons
Ch.05% 1950.4Bda.
$8.10 $8.30
Gen. America Traza 50
51
Un. Gas Tprovem't 10
101
H.K. Goyt, 4% Logoa
711%
H
$106
Gen. Mectric ........ Gen. MotorS
443
441
US, Rubber
601
511
H.K. Gort. 31% Loqua
per
1471
H.K. Wing On
$101
D
1471
S'hai Wing On
$6.95
Vibro Piling nasasazne
16/3
Marsmans Inv. (Lon.)
3/4
Maramana Inv. (HE)
90 cfa
We, Powells
Ca
Gen Railway Signal 224 Glidden Co. ........ Goodrich (B.F.) Goodrich $5 pf. Goodyear Tire & Co. 30 Great Northern Iron
Ore ...... Great Northern Rh. 22
Oct. 1
178-25/37
21.21
12.001
5471
911
92
110
1101
19.391
Jhanghai
Bid
New York
4.32
4.781
Amsterdam
8.89
8.81
Vienna
140
2261
660
1/3
1/5-15/18
4.854
28.574
4.83 *28.301
Yokohama baraba
1/2
Belgrade
210
Buenos Aires kameraya
18.971
Monte Video
28
18.994 191
Rio de Janeiro
2-15/16 29.40
19-1/16 191
194
29
31% 99
*Sales to Shangbai
$6.40
90 ofas
LONDON EXCHANGE RATES
Paris
Geneva
Berlin
Athens
Milan
Lisbon
Stockholm
Prague Helsingfor
Bucharest
Bone Long Bombay .... Montreal
Prussels ingent
Copenhagen
aliver award)
Silver (Spot) inayo- War Loan
ON LANDON
(British Wireless Service).
Closing Quotations
October 7, 1928,
Telegramble Transfer}{/} Bank Bills on demsad f Credits, 4 months' sight 1/3)
ON SHANGHAI:
On demand,
UN. SINGAPORE—
Ou demand
L JAPAN:-
On demand
e tui-
Sout
Telegraphic Tranides..
Oct. 3 178-31792. 21.021 7.931
10:411
31% 101
UN NEW T-
Bank Bilis, on dansand 201 Credits, 60 days' sight 201 -In Bararia:——
MESSRS. ROZA BROS
Silver prices dropped 1/8 yester. day for both deliveries the qiiota- tions being 19. 7/16 for Ready and 19. 1/4 Forward. Sliver advices re- ported the market as being steady. Speculators sold. Later the mar- ket was quiet but featureless. American Silver was quoted at 42 3/4 for Spot.
The London /New York cross-rate was quoted at 480.50 New York /London was quoted at 480, 3/8.
MARKET
Quiet, steady with hardly any business.
STERLING
A small business was reported at 1/3 for March There were scilers at 1/3 October 1st half February and 1/2 31/32 February /April, buyers at 1/3 1/32 Cash /January and 1/3 March.
US. DOLLARS There were sellers at 30 1718 October and 30 November/Decem- 90 1/8 Cus at ber, buyers /November and 30 1/16 December. SHANGHAI DOLLARS 182 1/4 sellers.
SHANGHAI MARKET Early advices indicated sellers of Sterling at 8. 1/4 for Spot and US Dollars at 18. 1/2 selfers for Spot but subsequently the market eased off slightly, with sellers of Sterling at 8. 7/2 for Spot and U. B. Dollars at 16. 7/16 sellers for Spot.
THE AFTERNOON The market was duil in the at-
noon..
STERLING
The market closed with sellers at 1/3 October 1st half February and 1/2 31/32 February-- [April. buyers at 1/3 1/32 Cash /February and 1/3 Marchpf.
US. DOLLARS
·
H. K. STOCK EXCHANGE
YESTERDAY'S OFFICIAL
QUOTATIONS
During the week under review the volume of business was on rather a restricted scale. Prices however were fairly well maintained,
The Manila market was steady. BUSINESS DONE DURING
THE WEEK Hongkong Banks, 11440) $1470.
$1475 $1465. Canton Insurances, $225. Union Insurances, $512, $515, Steamboats, $194, $20,05, $20.15. Wharves, $1304, $1204, $1281, $128. Docks (New), $19. Providenta (Old), $7.15 $7.20
મા..
$7,10," Providents (New), $6.85,- $6.95
$5.80
Hotels, $7.10, $7.20, $4.15, $7.05. Lands, $381. $38), $39, 8384. Realties. $8.
$17, $17.15 $17.10,
1,207.05; 17,
Sellers at 20,1/18 October and 2
30 November December, buyers 30 1/8 Cash/November and 30 1/16 December
On demand ON PARTN
641
1470 nom.
Bank Billa, on demand. 1,100 Credits, montha' sight. 1,186
UN SALGON
On demand
110
53-8/16
Or Manit
On demand...
ON BANOZOK ——
1001
- On demand ...amus
*140
Sovereign Kotes
Bank Buying 'Rate.....
Bar Wiper DEF-28
1/2-1/26 19-7/18
16. 7/16, sellers for pot.
SHANGHAI DOLLARS
182 1/4.
-SHANGHAI - MARKET
Sterling 8. 7/32 and USDollars:
Star Ferries, 877,
MAIDEN TRIP TO FAR EAST
New P. & O. Liner Has Full Load
London, Oct. 7
October
December January, 1939 March, 1930 May, 1939 July, 1939 Spot
December
the March
The latest addition to liners maintaining regular services May between Europe and Hongkong September will set out from here to-day for the Far East.
It Is the P. & O. Uner Can- ton which, fader
8.40 Nom
+1
NEW YORK RUBBER
17.05/09 17.25/33 16.96/97 (109 OFT- 17.10/13 17.38/39 17.04/04 .06 off 17.13/18 17.40/38. 17.02/05 11 off 17.22 N
17.09/09 13 off
3.830 tons
Bales for the day:--
CHICAGO WHEAT
041/84) 641/841 637/637 0-3/8 off 647/65 65 643 643/643 0-1/4 on 641/041
837/64 0-1/4 off
16,705,000 bushels.
the com ol Captain mand formerly of the Naldera,
Jack
Will
December May
July
Wednesday's Sales:-
CHICAGO COEN
_start_on_its maiden voyage.
The ship carries a full load of passengers, including very many and Shanghai. for Hongkong Practically: the entire cargo space December for 7.700, tons has been booked May for weeks.
July
The Canton, in many respects outclass ships of the P. & 0, an the Far Eastern rum, has been specially designed for, the Far October Eastern trade and is the last December
May word in airy comfort.
China Lights (Old), $11, $ned to prevent violent changes
Even the holds are air-condi
ca 150 350 3501 1591 of temperature and so avoid December
Telephones (14), $26€ 125. Cements #1717 $17.20
Watsons, $3,$3.10, $8.15 28:39
59.30,
Sandakan Lights, s10:
Clort. 34 per cent Loan, Par,
sweating of CRIED.
48/451 46/461 487/4848/49 50/50
WINNIPEG WHEAT
454/454 0-5/8 on 481/481 0-1/2 off!
491/491 0-5/8-DE?
591/501 591/501 581/587 0-1/2 of 591/591 601/591. 581/584' 0-1/2 off 621/62)
621/629 0-3/8 off
NEW YORK STRAITS TIN
The Manchester Guardian" in a New York, Silver, Official farewell article, says
Canton
sight
43.90 Nom 44.80b/45.20a 44.90b
42-3/4 4.20-15/16
42-3/4
4.80-3/8
Last when the
NEW YORK HIDES: (New Contracta)
not yet even in December
that the N.Y.-London Cross Rate. typifies the heartening
12.75/12.80 1284b/70% 13.14/13.17 12.99/90)
N. Y. Commodity Market
501
50
VS, Rubber $8 pfd... 943
934
221
U.S. Stee!
617
611
243 15
59
241
Vanadium
201 191
Warner Bros. Pict.... 231
61
7
591
Westinghouse
Bec. 1121
113
(By Courtesy of Messrs. Swan, Culbertson & Fritz and
·S. L. Levy & Company)
291
Woodward Iron Cor. 194
201
13
131 228
Chaze National Bk 33jb National City Bank }D
327b 237b
New York, October 8 (Thursday),"
Prev. Today's
High
Low
Close Close Change
Call Money
1% 1%
New York Cotton - Dec.
New York Rubber
Dec.
ex. div.
• bid.
Chicago Wheat
Dec.
Chicago Corn -- Dec.
Winnipeg Wheat - Dec.
8.29 8.24 8.24
2.05 T 8.30
18.96 .09 off 17.33 16.98 17.05 64-5/8 63-3/4 64-1/8 64-3/4 3/8.off 46-1/4 45-3/8 48 45-3/8 5/8 off 59-3/8 58-1/2 59-1/8 58-5/8 1/2 off
NEW YORK COTTON
8.28/26
Close Opening Closing Charige- 8.22 N
8.28 N
.06 up
8.24/24
8.27/26
8.20/30
.05 up
8.20/20
8.25/25
9.25/25
05 up
8.21/21
8.25/24
8.14/15 8.16/17
8.12/13 8.14/17
.03 up
8.15/15.01 up '8.15/18 .03-up 8.45 Nom 05 up
8.24/25