1937, and by the end of last year 0/8-15/84 0/8-15/04 the amount was increased to Yen 0/8-13/64 0/8-13/04 30.810.382. This Company is there- 0/8-11/64 0/8-11/64 fore prompted to exploit the mines
in Hainan Island.
U.S. Dollars
$18-1/18 16-1/18
16-1/16
16-1/18 15-31/32 16
..... 16-29/32 15-29/32 Market-Very quiet.
If this scheme were carried out, more Japanese troops would be required for Hainan.
for the phosphate rock are in the Interior to which the Japanese They troops have not penetrated.
TUESDAY, MAY 23, 1939.
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING HONGKONG
I
作
New York, May 20, 1939.
PAGE 12-HUNGKONG DAILY PRESS
MONEY AND EXCHANGE
CLOSING QUOTATIONS(Shanghai Exchange
MAY 22, 1939
On. London:-
Telegraphic Tránsfer. 1/2 13/18) Bank Bills, on demand/% 13/16 Credits 4 months" sight 1/3 1/18
On Shanghai:
London New York Japan
Parts Hongkong
Shanghai, May 22 (Reuter).
0/8 15-5/8 56-7/8 3.48 53-3/8
On demand
178 1/2
On Singapore:-
On demand
* 53.
Spot
Open Market-Selling Rates Sterling
Opening Closing 0/8-1/4 0/8-3/4
3:
Japan Imported this mineral the worth of Yen 22,392,069
to
FINANCE
PHOSHATE ROCK HONGKONG SHARE QUOTATIONS
IN HAINAN. TO
BE EXPLOITED
FORT BAYARD. May 22. (Intl) -The Japanese South Sea, Deve- lopment Company is planning to exploit the phosphate rock in Hal- nan Island, which is used for the manufacture of fertilizers.
عمنا
STOCK KIGWANGH
SHAREEROKEES" ASSOCIATION
Baise Nomios MONDAY, 24.
MAY,
Bagues allere
Halos Tomiza
Bagues Ballery
$1380
*:*:*:
$1355
Do. (Col. Beg.).
£97
Banka
H.K. Banks
Do. (Lon. Reg)
Chartered Banke
Marcantile Blu, "A"
$763
On Japan:-
May
On demand
18 3/4
June
On India:-
July
Telegraphic Transfer.
and demand
__}8 34
Spot
On New York:-
May
Bank Bills, on demand 28 7/8
June
Credits, 88 days" sight 19 3/8
July
Un Batavia-
On demand
63 1/2
On Paris:-
Bank Billa, on demand 1:00
Credits 4 months' sight 1132
On Saigon
are now in occupation of only the coastal towns or at most miles inland.
few
$107 $4.60
Chinese guerillas are still
active
On demand
149 3/4
On Manila:
On demand
58
On Bangkok!...
On demand
150
Sterling Notes:
Bank Buying Rate
1/3
Bar Silver per oz.
20 1/18
£13
Marcantile Bk. "C"
$80
Bank of Bari Abia
N, C. & S. Banks
Insurances
COMMODITY
MARKET
REVIEW
2910
Canton Insurances ....
$217
$435 Union Insurasose
-
$1.35
$1.50 Underwriters
$180
0437)
(FROM PAYNE & CO.)
H.K. Firs
$180
Shipping
to
be
11014)
347
Dougins spavennlig
Ber
܊ ܐ ܊ ܊ ܐ ܊
Steamboats
$15
$64
Indo-China (Pret.)
$50
$30
Indo-Chinas (Def.)...
$20
83/1
Bballs
83/1
SINGAPORE RUBBER
May 19
sellers
$6.40 Waterboats“ n
$8.40
Docks, Wharves,
"S POT
'Godowns, etc.
JULY-SEPT.
buyers
May 20 buyers sellers
change
27-3/4 23
27-3/4 28
unch
27-7/8 28-1/8
27-7/8 28-1/8
H.K. & K. Whaeres
$107
OCT.-DEC.
$4.05
Providents
$165
Providents (new) ..........
H.I. & W. Docks... $17
$107 Shanghai Dooks 8.
$108
C
}
!***
#: 1:
19/6 Kailans $3.18 Rsubs
#3
$7.70 New Engineerings
Mining
Venezuela Gold Fide
4 cta. Hong Kong Mines ...
$7,90
38)
#⠀
19/6
$9
27-7/8 28-1/8 27-7/8 28-1/8"
The market opened with prices unchanged for all deliveries as compared with Friday's closing rates.
sigy
Early in the morning the market was idle in sympathy with con- ditions prevailing in London and New York. .
Despite fair enquiries for "actuals" by consumers, speculators kept aloof awaiting further developments,
Subsequently, however, the market turned steady on good trade- buying. which, coming on a narrow market, resulted in a slight price-advance of 1/8 cent for all deliveries.
It would appear that the better" sentiment displayed by dealers was due to overnight cable-reports on a substantial increase of motorcar-production for this week as well as on considerable re- placement tire-sales in this year which are said to be well ahead of those in 1938. These bullish factors coupled with a definite easing of the political tension in Europe would seem to indicate the advis- ability of following a policy of conservative accumulation in the near future.
Closing tone was quiet, but steady.
"LONDON RUBBER
Previous close To-day's close
buyers sellers buyers sellers Change
Market Report
FROM ROZA BROS
allvér prices dropped 1/10 yes- terday for both deliveries, the quotations being 20 1/18 for Ready and 19 7/8. for Forward. Silver advices reported India and Specu- lators as having bought. The Continent sold The market was Arm, American Silver was quoted at 42 3/4 for Spot,
The London/New York cross-rate was quoted at 488.12. New York/ London was quoted at 468.1/8.
Opened
Market
Merchant Rates Sterling, 0/8-7/32. Dollar, $16.
Silver Duty Rata
The Central Bank of China's rate on London at 10 am, to-day waa 1/2-1/2d. unchanged from Saturday.
The Equalisation rate was 51 per cent.
NO MORE IRON ORE FOR JAPAN
in the hinterland, and the Jap- $17.80 $18 anese are trying to pacify them by. Buddhist teachings.
Chinese authorities. The same measure has been adopted by New Zealand.
Lord Cecil and M. Pierre Cot, I P. C. President. have sent a
CHUNGKING, May 22 (Central) cablegram to Col. Henry L. Stim- -It is reliably learned from sen and Mr. Price, of the Ameri-
the China, Branch of the Interna- can Committee for Non-Participa- Honal Peace Campaign that ex-tion in Japanese Aggression, urging port of iron ore to Japan has been that similar action be taken by completely forbidden by Indo-America.
NEW
STOCKS
Adams Express
YORK STOCK EXCHANGE
uncertain but subse- Alleghany Steel Co. quently eased off owing to some Allied Stores demand. Towards lunch time the Allis Chalmers. market steadied up "again;
Sterling
Amerada Corps.
Amer. Can .....
Business was done shortly after | Amer. "Foreign Power ... the opening at 1/2.29/32 for August | Ameri & Foreign $7 pf.... dellvery followed by transactions American Gas & Elec...... at the
same rate for Jane and Amer. Locomotive Cash. Business was also done at Amer. Metals Co. 1/27/8 for September delivery, Amer, Radiator Towards lunch time the market Amer, Rolling Mil appeared steadier with sellers at Amer. 5'ting and Ring Co. 1/2.25/32 May July and 1/2.7/8 Amer. Bugar Ring August/Septemner: probably Octo- Amer. Tel. & Tel ber, buyers at 1/2.15/18 Cash/ | Amer, Tobacco "B" August and 1/2.29/32 September/ Amer. Waterworks October,
U.S. Dollars
Business was done during the Baltimore & Ohlo early part of the morning at 29 Barber Asphalt C 1/10 for May delivery. 28 15/16" Barnsdail Oil was also arranged for Septemebr
Bendix Aviation
and 28 7/8 first half December. Bethlehem Steel The market closed at 1 p.m. with Bliss & Co.
· Gellers at 29 1/16 May, 29 June Boeing Altplane Co.
July, 28 15/16 August, probably Borg-Warner. September. 28 7/8 October/Novem-Biggs MTacturing ber and 23 13/16 December, buyers
at 29 1/8 for cash, 29 1/36 June. B'klyn-M'hattan sê cum pf. 29 August, 28 15/16 October and Canadian Pacific Rway..... 28 7/8 December.
The
Shanghai Dollars
Case, J.I.
Celanese
highest rate done this Chesapeake & Ohio morning was 180 3/4 and the Chrysler Corpn. lowest rate 180 7/16. There were Columbia Gas & El sellers towards lunch time at 180 Columbia 8% “A” pr. 5/8 for Spot
Shanghai Market
May 20
82*
$5.55 $34.86
!!!
$4.35 $41
$1.80
316.40
101
܊ ܕ ܊ ܃
Buildings
H.K. Hotels
Shanghai Landa 8. H.K. Renities Humphreys
Lands. Hotels and
$5.70
EK. Lands reckon.
#34
$100
Do. 4% Debentures
18.70
•
*P*****
$104
$7.80
$184
$113
542*
#48+
#109 Chinese Ratates
Cotton Mills
$18.70] Ewo (S.)
$1139'bat Cottons (8.)
Zocag Sings (8.) .... Wing On Textiles (8.) Public Utilities
$30
$40
$4
141
⠀⠀ B; ** -
Tramways
Peak Trams (old) ...
Pork Trams (DOW)
Star Ferries
$9.70 T'mati Forries
Do,
(now)
22/6 Tractions (prof.)
$12 Cements
$3.65 Baps
38
Allscellaneous
Farms Ex. Rts.
Ch. E'tainments
Constructions
Lactions
Crawfords
Naayag Tobicoo
$1.80 Locur
Watsons
644%. Ch. G.5% 1925G SBda.
28
******
75 ata.
B'hal Wing On
Vibro Piling
Maramane Iny. (Lou.)
Maramana lav. (H.K.)'
Wm. Powelle
Balms to Shanghai
QUOTATION
916.45
Last Bale
MAY 21, 1939 STOCKS
$8
SPOT
Last Sale
34
JULY-SEFT.
May 20
#851
$22 #121
OOT.-DEC.
Int. Tel. & Tel.........
JAN.-MARCH
8
8-1/16
8-1/8
8-3/16
8-3/18
8-1/4
8-1/4
8-5/16
CLOSED
157
Johns Manville
631
88.43
Chias
Lights (0)
$8.45
74
|J. & Laughlin Steel 57 pfd. 37*
15.00
China Lights (New)
$51
324
Kennecott Couper
313
Chian Lights Rte.
634
Libbey-Owens-Ford
Glass
42+
#56) |H.K. Electric
$56
Lockheed Aircraft
251
$16.60 $17
Macno Electrics .......
$11.90
[2]
Loew's Inc.
421
$23.65
Sandakan Lights`...... Telephones (old)
8231
16j*
Manhattan Shirt Co.
57
33
Martin, Glen L
344.
Telephone (New) 20/0 Tractions
$7.40
22/.
161
McKesson, Robbins
13
271*
Monsanto Chemical
951
Industrial
11)
$14
Montgomery Ward.
471
Gald., Macg. (Ord.) S.
$10
13.
Hat. Dairy Products
15
Cald., Macg. (Fref.) B.
41"
Nat. Distillers
Cantón Ioes.comisar
$13
17}
National Gypsum
111
06
1614
National Load"
171
78
Nat. Power & Light
71
$211
Dairy
#213
+
National Steel Corp.
$15
592
Dairy Farm Res.
$15
$61
86.05
Anaconda Copper Atchison, T. & 8. Fc. Auburn Motors...
231
Nat, Supply Corpn.
#1
(old)
271
New York Central
14
Niagara Hudson Power
18
5
N: American Aviation
$4
15)
Market closed.
The average forecast of last week's stock of rubber in London and Liverpool shows an increase of 950 tons.
NEW YORK COTTON
To-day's market was indecisive. The previous day's easy tone at the close continued to prevail. The market was dull and narrow with prices easing off slightly on speculative selling and"Ifquidation. The firmness in near options of the last few days practically disappeared.
NEW YORK RUBBER
With higher, initial prices, there was an indication that the pre- vious day's dullness had disappeared. Trading was fair and the un- dertone was good.
The market reacted on rains in parts of the drought areas, whilst more are forecast. With the exception of May option, other prices receded,^«
CHICAGO WHEAT
$1.80
124
North American Co.
202
$7.90
131
Northern Pacific..........
21
641% Dow Jones Industrial Averages
227
Pacific Gas & Elec..
30
7pm
H.K. Govt. 4% Lo
Previous close 130.28
To-day's
close Change
131.22
up .94
81034
53
Pacific Lighting
47
par.
H. Govt. f Loan
$100
91
Packard Motors
31
841
H.X Wing On
$48.
$5
212
Paramount Pictures
$8
231
Pennsylvania RR.
177
15/0
20
Phelps-Dodge
314
4/5
Brooklyn-M'hattan. Trans. 11
Phillips Petroleum
351
70 cta.
40
Public Service of N.J.
361
Pullman Inc.
201
74-1
Pure Of
71
173
Radio, Corpn. of Am,
61
31
Republic Steel
147
LONDON STOCK EXCHANGE
652
Reynold Tobac. "B"
37.
B
Richfeld O
71
(REUTER'S SÉRVICE)
85.
Safeway Stores
374
London, May 19.
Commercial
.451
Schenley Distillers
13
Commonwealth & 8. (ord.)
1
Schenley, 51% pid
at
C'wealth & 8. 6% cum, pf. Consolidated Edison
561.
Bears Roebuck
724
301
Seversky Aircraft
31
Consolidated Ou
71
Shell Union Oil
111
The following quotations are the middle prices at the close of the market in London. All quotations are subject to confirma- tion and no responsibility is assumed for errors in transmission.
..&
£
N. Y. Commodity Market
(By Courtesy of Messrs. Swan, Culbertson & Frits and 8. E. Levy & Company).
New York Cotton, July New York Rubber, July Chicago Wheat, July Chicago Corn, July ............... Winnipeg Wheat, July New York Hides, June
Prev. To-day's High Low Close Close Change 8.79 6.76 .03 off 18.00 18.00 unch.
744 74 off off
18.00 16,00
513 50+ 654 Closed
*
744 734 511 501
361
| Bacony-Vacuum Oil
117
War Loan, 31% (Red
Continental 11.
22
Southern Pacific
121
Corn Producta
591
Southern Rly $5 pfd.
201
after 1952)
931. Canton-Kloon Rly. 5%
Curtiss Wright (C)
53
Sperry
417
Curtiss Wright "A" Deere & Co..
251
Standard Brands
61
19
Stand Gas & Fecioa
3
Distillers Corpn. Seagrama. 174* Douglas Aircraft .............. Du Pont de Nemours-
Standard Oil of California
25
1808 (Belt. Issue)........ ́194 Chinese 41% Gold Loan, 67+ Chinese 5% Gold Bonds,
1026-47
-843
Union. Insurance ....... 301* Gula Kalumpong Rubber 18/9 Allied Ironfounders 19/3 Asso.& Elec. Industries 38/41 Austin 'Motora, ord. Cable & Wireless, New
Form ord.
30
481
621
Standard Oil,of N.J.
422
Chin. 44% Anglo-French
1441
Stone & Webster
104
Loan, 1903.
B.-A. Tob., (bearer): Cammell Laird, ord.
**
99/44
July October December" January
10.63 10.50
NEW YORK COTTON
Close Opening Closing 8.78/79 8.79/79 8.76/76 *1.91/91 -270/to
10.50A 10.533 .03 up
Change
03 of
7.91/91 7.91/91
unch.
7.69/09
-771/71-
7.63/63
7.60b/678
7.65 N
02. up
8/41
March
7.82/62.
7.63/63
7.83/63
01 up
Chinese 9% Crisp Loan,
Mexican Eagle
$
May
-7,62/67
7.62/82
7.81/62
unch.
A small business was cone at Eagle Picher Lead 1/2.28/32 for July delivery, finish- | Eaton. Mig. Co. ing with sellers at: 1/2.7/8 May/Elec, Autollte September and 1/2.27/32 October/Elec. Bond & Share .... December, buyers at 1/2.15/16 Elec. Bond & Share $5 pf. Cash, 1/2.29/32 June/October and Elec. Bond & Share $8 pl. 1/27/8 November/December.
*
|swift 'International Mo....
Jak
1912
38
Courtauldr
25
Spor
9.76.N
9.76 N
202 OT
207
Technicolor...
17
Chinese 5% Reorg Loan,
Distillers.....
91/9
281
Texas Corpn.
381
NEW YORK RUBBER
1913 (Lda. Is.)
521
Dunlop Rubber
28/2
71
Texes Gulf Sulphur .......................
271
| Trans-America Co. .........
Chinese 5% Star. Notes,
1925 (Vickers)
Gen. Electric (England) 79/7Y:
May
171.
Guinness (A) Son & Co. 107
July ........
62‡
20th Cent. Fox.
19
Chin. Imperial Ri7. 6%
Elec. Power & Light $7 pf.
251
20th Cent. Fox. $14 pf. ...............
30
Loan yanı
43
..나
Flintkoten kukkaki
191
| Union Carbide & Carbon
731.
Homan Ely. 5%
21
U.8. Dollars
Food Machinery Corp.
27
Union Pacific
Hukuáng Rly, 6%, 1911... 23
The market closed with sellers Gen. American Trans.
45
United Aircraft
367
at 29 May/Juhe, 28:15/16 July Gen. Electric
334 United Airlines Trans.
93
Hukuang Rly. 5%, 1911
(German Isrtie):
201
Marks & Sp'cer "A" ord. 83 Rolls Royce .......
Hawker Siddeley Air.... 18/101 Bristol Aeroplane * 20/71 Imperial Chemical Ind. 30/11 Imperial Tobacco
September
130/71
December March Spot
106/101
August, 28 7/8 September, prob-Gen. Motora
43)
United Corph.....
21
ably October and 28 13/18 Novem Gen. Railway Signal ber, buyers at 29 1/8 for cash,, 29 Glidden Co.
1/16 June, 29 August, 28 15/18 Goodrich (BF)
September and probably 28 7/8 Goodrich $5 pf.... November.
Shanghal Dollars
161*
United Corpn. $3 cum. pl. 334.
́Lung Tsing & U. Eat Rly. 7.5%**
Leyland Motors.........
92/6
181
Tate & Lyle
61/6
161
United Gas Corpn. ........... 2
181
United Glas Improvement 121.
01.
UB. Rubber
374
8′hal-N’king. Ply 6% Tientsin-Pukow Rly. 5%
(Brit. Stpd.)
26
May
Turner & Newall
T7/10
United Steel
July
24/14
18.
Smethwick Drop For... 16/3
September
Goodyear Tire & Co.
25%
UB. Rubber $8 pfd.
1024
Great Northern Iron Ore
134
UB. Steel
'447
Great Northern Rly, pfd., 198
Vanadiurn
184
Sellers at 180 1/2 for Spot.
Great Westerni. Bugar
261
Warner Bros. Pict.
Greyhound Corpa
181
| Westinghouse · Fieć.
901
Tientsin-Pukow Rly. 5%
(German Stpd.). "18 Tientsin-Pukow Rly. 5%
(Brit. Stpd. Bupl. Loan) Tientsin-Pukow Ruy. 6%
Armstrong. Stevens, ord. 6/8
Pressed Steel, com...... 17/1
Vickers, ord.
19/1
18
May
Woolwortha
63/8
July
15.94 N 18.00/00 16.00b/03a.
18.005/102 · 18.00/00
..... 16.03b/04a anden 16.07. N.
16 Total Bales for the day:-50 toni
- CHICAGO WHEAT
-791/791 -/-
742/744
*74/41 737/737 731/734
Friday's Bales-22,315,000 bushels.
504/501 512/518
15.94 N
unch.
unch.
16.02b/13a
18.00b/04a
.01 up
16.05b/158 18.13b/18
16.05/05 18.09 N.
.01 up
&
15-15/18" 1/16 off
741/74
.701/792 743/741
CHICAGO CORN
109/109
514/511
504/501
Anglo-Dutch --
20
Hecker Products
13
Woodward Iron Cor...
164*
|| (Ger. Stpd. Bupl, Loan): 18
Beptember
513/5117/09/614/51)
51/51
BEE
855
HONGKONG
Homestake Mining..
62
SHAREBROKERS'
ASSOCIATION int. Nickel....
Volume of Business Transacted
on Monday, May 22, 1939.
Industrial Rayon
181*
| Chaas_National Bank,
National City Bank
*31*
Jap. 5% Bier. Loan-1907, 38
Rub, Flant. Invest. Trust $27 Burma Corporation
8/4k
WINNIPEG WHEAT
251
International Harvester
581
Jap. 6% Ster. Loan, 1924 544 J dér. 7% Int Loan, 1924, 37
Commonwealth Mining.. 1
May
641/641
48
Chartered Bank
-༧་
bid.
1 ex. dr..
HK, & S'hai Bank (Ldn.
Reg.)
847
DOW JONES AVERAGE.
H.K. Banks
5 $1,385.00
1839
Providente
500
4.65.
Dairy Farms
200
21,05
Dairy Farms
100
22.00
High Low Dow Jones Averages 15485 191.44 30. Industriala 3433 241430) Hail win
Lands
Yaumati Ferries
Macau Electrics
200, 150 22.80 100: 22.60
35.20
**28,59 20.71 30. Utilition
12.80
· 99,29 · 87.00 10. Bonde: 9?
88.08.
88.174 09 up
18,52-45,59 11 Commodity Inder 49.19:
Basin
CM 21, 1929,-
May 19, High Low Close Ubadge 130.18 131.58 180.89 131.33.94 up (bearer)
28.93 28.52 38.98 28.49 22.78 82.59 92.89
03 up Ferin Byndicate ...
48.1907 o halted. Constr.
me190,000 shares Bhad Waterworks: “Affu 191*
HK & Shai Bank (Col.
Reg.) Chinese Eng. & Mining
Marsman Investments... 15 Randfontein Estates Western Holdings .... Sub-Nigel
July
851/651
CLOSED
40
Octob
864/681
12/41
pen
84
Tanami Gold Mining Anglo-Iranian...
220/71 30% 79/41
NEW YORK HIDES
June
September
10.468/50 10.50/81-
10.85/67
10.53 B
10.94/91
10,91/93
Furman
19/6
NY Silver, Official
42-3/4..
unquoted
35 Up Chosen Corporation 5/6
Shell Trans & Tra
(bearer)
83/11
Septem
NY-London Cross" Rate 4.83-1/8-
NEW YORK STRAITS TIN
47.756/48.008 47.756/48.158 47:75h/48,158 15.up
4.68-1/8
Firta. Sellers of Sterling 8.1/4 for Spot and 8.15/84 for May.
US Dollars, 18.1/16 probable sell-
erg for May delivery.
AFTERNOON, MARKET
The market was quiet in the "afternoon, the tone being a shade
easier at the close.
Sterling
Continental Can