TUESDAY, JULY 11, 1939.
PAYNE &
CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONGKONG
FAGE IZ-HONGKONG DAILY PRESS
MONEY AND
GENERAL
EXCHANGE ELECTRIC CO. OF
CLOSING QUOTATIONS
JULY 10, 1939
On London:
Telegraphic Transfer. 1/2 53/39 Bant Bills, on demand!/s 13/32 Credits 4 months' sight 1/2 31/39 On Shanghai
On demand
$18
12 1/4
On Bingapore;--
On demand
On Japan:-
On demand
108
On India: 1 k
Telegraphic Transfer.
and demand ..............................)
Un New York:-
[82 1/8
Bank Bills, on demand 28 11/16 Credita, 80 days' sight 19 3/16
Un Batavia:
"On demand
On Parks:-
.... 63 7/8
Bank Hills, on demand 1083 Credits 4 months' sight 1125
Un Salgonama
On demand
109
On Manila:-
On demand
ST 5/8
On Bangkok:-
On demand
161 1/8
Sterling Notes:---
Bank Buying Rate
Bar Silver per 02.......
1/2 29/32
18 7/8
ENGLAND
Record Profit Announced
DEVALUATION
HAS FAILED
not
"Convinced as I am." he says, "that the old gold dollar should never have been devalued. `I am conclude enough of a realist to that its re-establishment is
of the now within the realms practical. But I want," he says "the power to devalue the gold dollar to expire. I urge the rein- troduction of the gold coin stand- ara and of the gold coin redemp- tion"
FINANCE
HONGKONG SHARE QUOTATIONS
8410
!!
$435
£95 Mercantile Bk. "A" £13 Mercantile Bk. "C" $30 Brak of East Asia .... N. C. & 8. Baskı..... Insurances
$930 Cantoo Insurados Union InforEDOM $1.38 Underwriters $185 H... Firma
STOCK EXCHANGE
SHAREBROKERS, ASSOCIATION
ኣነ
An important statement has just been made by Mr. Winthrop Chase Aldrich, president of the National Bank. He says the time has come to stop currency devalua- tion.
Bayer Bears,
Nomian MONDAY 10.1 Sales
JULY.
Buyers | Gallers. }. Baina Momiza
+3 и Banks
1330
H.K. Banks
#1830
£791 E7
Do. (Col. Bag.) Do. (Lon. Reg.) Chartered Banks
2801
£191
£7
$12
$80
50 ats
$290
814
$495
$185
Shipping
$37
Douging
$67
$15
Steambosta
$15
460
Indo-Chinsa
[Prof.)
830
830
Indo-Chinsa (Del.).
$20
Shelia
82/6
.$8
}
$108
BE T
$171
8. POT
OCT.-DEC.
$108
JAN.-MAR.
18.30
18/0
Two facts above others stood out in Lord Hirst's "account of the activities of the General Electric Co. Ltd., of England, during the past year, which resulted in a net proat of £1,778.000-a new record In the history of the company. The first referred to the benefits re- sulting from the intense efforts of the research workers. Secondly, although the home business kept up remarkably well, the export re- sults actually exceeded the pre- vious year's record figure.
Devaluation
Mr. Aldrich says that the policy of devaluation has falled:
True the country that first re- establishes its currency on an im. pregnable basis will become the financial centre of the world, and will get the pront of that busl
The chairman mentioned that the company's products range from the largest power plant to lamps and domestic appliances, and that last year's output was produced ness by 40,000 workers whose salaries and wages amounted to £5,500,000.
our country, the present good employment Agures, the contribu- tion of the Government to our pro- ductive programme, and our in- proving export figures all these things convince me that we can
Confidence In Future Regarding the future Lord Hirst spoke on an encouraging note. "Given that there is rot going to be an international fare-up, I feel the strong financial position of look with confidence to the future.
$4.60.
Hi!
83/6
$8.10 Waterboats
Docks, Wharves,
Godowns, etc.
$108 H. & K Whores | $107)
++
Providents
Providente (new)
PIMAI
IN
$18.20 H. W. Dooks...
1 Do. (new)
$108 Shanghai Docka 8.
$830 New Engineering 8.
18/0 Kailant
89.40 Bande
Mining
$4.60
Venezuala Gold Fids 4
4 ots. Hong Kong Hines ...
Buildings
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
New York, July, 8 1999.
SINGAPORE RUBBER
July 7 buyers. sellers
28-1/2 28-1/4 28-3/8 · 28-5/8. 28-1/2 28-3/4
July 8
buyers sellers change 28-1/8 28-3/8 off 1/8 28-3/8 · 28-5/8 unch. 28-7/16 23-9/16. off 1/16
The market opened with prices unchanged for all deliveries as compared with Friday's closing quotations.
The market was quiet and inactive owing to the fact that the Rubber Exchanges in London and New York will remain closed to- day (Saturday),
However, better demand from New York was in evidence.
Lands, Hotels and
pl
$&1
H.K. Hotelsmann
$5.70
$35
H.E. Lands ..........
STOCKS
Adams Express
Amerada Corps,
Quiet
Market Report
FROM ROZĄ BROS Silver prices dropped over the week-end to the extent of 1/3 for Ready and -3/8 for Forward, the quotations being 16.7/8 and 18.5/8 respectively. Silver advices re. ported India as having bought. The drop was attributes to small speculative selling. The market was steady. The American mar- ket was closed yesterday.
The London/New York cross-rate was quoted at 488.15.
Market
NEW YORK STOCK EXCHANGE
Alleghany Steel Co.
Allied Stores"
Allis Obaimers
Amer. Can
QUOTATION
$357
$351
par
[Do. 1% Debentures 17
#8}
Shanghai Lande
LONDON RUBBER
$4.70 081
HI.K Boallion"....
***
Last Sale
July. B
JULY 9, 1939 STOCKS
816)
$16.60
7
14
Int. Nickel .....
"Last Sale
July 8
451
$7.40 Peak Trams (old)
Humphreys :****
$100 Chinese Estates
Cotton Milk-
$181 Ewo (8.)
$118'hai Cottons (B.)
$43 Zoong Sings (8.)
$46 Wing On Textiles (8.)
Public Utilities Tramwaya
83.70 Peak Trama (new) ...
$4.80 $8.40
Previous close To-day's close Buyers
sellers buyers sellers
change
SPOT
8-3/16 8-1/4
*$18.80
OCT-DEC.
8-5/16 8-3/8
CLOSED
8110
840
JAN.-MAR.
8-3/8
8-7/18
845
Market closed.
3154
$16.60
***
$7.40
$3.70
980 Star Ferries
1994 Yati Ferries
$294
B1
Int. Tel & Tel.
Do. (new)
33
Johns Manville
69
#8
China Lights (0)
*******
$8.20
J. & Laughlin Steel $7 pfd., 38. *
$6.80 China Lights (New)
$5.30
95 *
Kennecott Coppez ....
321
China Lights Rtv.
$54
H.K. Electrics
Sterling
Amer. & Foreign Power
21
Libbey-Owens-Ford
Glass 45
NEW YORK COTTON
The market ruled steady at the beginning, but reacted probably on profit-taking. Traders preferred not to enter any new commit- ments over the week-end, and the market is at present digesting the latest crop news. Lack of buying Interests in the market led to a lower adjustment of prices.
NEW YORK RUBBER
14
6.19/32. U.S.
Afternoon Market
Nothing doing. There were sellers at 1/2.13/16 July, 1/2.25/32 American Gas ̈& Elec,
1/2.3/4 Amar. Locomotive
August/Bentember and
October/November. buyers at 1/2. | Amer. Metals Co. 27/32 Cash, 1/2.13/16 August and Amer. Radiator 1/2.25/32 November.
U.S. Dollars
Nothing doing There sellers at 28 7/8 July, 28 13/16 August and 28 3/4 September. buyers at 28 15/16 Cash. 28 7/8 August and 28 13/16 Arst half October.
Shanghai Dollars Business was done early in the morning at 228. The market closed towards lunch time with sellers only at 225 1/2 for Spot.
Shanghai Market
Amer, Sugar Ring Amer. Tel. & Tel Amer. Tobacco "g" Amer. Waterworks Anaconda Copper. Atchison, T. & S. Fe, Auburn Motors '... Baltimore & Ohio Barber Asphalt Co Barnsdall Oil ..... Bendix Aviation Bethlehem Steel Bliss & Co.
There were sellers of Sterling Borg-Warner for cash at 6.9/16. and July at Biggs' M'facturing
Dollars, sellers at Brooklyn-M'battan. Trans. 12.25/32 for cash and July at 12. Bklyn-M'hattan $8 cum pt. 5/16. Quietly steady.
The market- was quiet in the Chesapeake & Ohlo......
Ameri & Foreign 7 pf.... · 181*
Lockheed Aircraft
·251
$18 $19
Macao Electrics
351
Loew's. Inc..
41
$231
Sandakan Lights .... Telephoom (old) ................
#
Market closed.
E24
18*
Manhattan Shirt Co.
$7.70 Telephones (Dew} 186 Tractions
***
30
Martin, Glen L
:324*
$7.30 22/-
23/8
113
McKesson, Robbins
144*
Tractiona (prof.) '
Industrials
Amer. Rolling M411
134
Monsanto Chemical
904
Amer. S'ting and Ring Co.
401
Montgomery Ward
50
Pat Dairy Products
152
were
161)
Nat. Distillers..
254
$12.60
631
National Gypsum
10
National Load ......
201
3
241
Nat. Power & Light National Steel Corp.
254
55.*
1+
Nat. Supply Corpn.
New York Central
~41
13}.
117
Niagara Hudson Power
61
131
N. 'American "Aviation
15
221
North American Co.
217
*
521
Northern Pacific
TA
81*
Pacific Cas & Elec.
301
4Xpm
Boeing Airplane Co.
201*
Pacific Lighting,
46
par
Packard Motors
41
21
31
Paramount Pictures
194
**
Pennsylvania R.R.
11
102
Phelps-Dodge.
39
34.
** DITANG⠀
314
Cald., Macg. (Ord.) 8.
$18
Cald., Macy. (Fref.) 8.
CHICAGO WHEAT
Prices again moved lower in sympathy with the easiness of the Winnipeg market. In anticipation of a large Canadiare crop, the market is prevented from improving at present.
81
Canton Ioss
Cementa
$124
$3.70 Ropes
$3.80
Miscellaneous ||
New York Stocks
Previous To-day's
close
close Change
133.22
133.24
up 02
881 Dairy Farm (Old) ...
#211
.:
$30 Dairy Farin (New)
$6.90 Ch. E'tainmentë, k
$1.5h Constructions... (old) $19.
Constructions
Lane Crawforda
Nanyang Tobacco
$1.80 Binders äkkiin
Watsons
921
$8.90
87
$1.98
N. Y. Commodity Market
18.16
44*, Ch. G.5% 1925G #Bds.
44
H.K. Govt. 4% Losos
$104
H.K. Govt. 34% Loen
$100
.K. Wing On
841
hai Wing On
$17
Vibro "Piling
Sai
14.3
·Margmans Inv. "(Lon.}
4/0
Maenadu Inv. (H.K.)
Canadian Pacific R'way. ... Case, J.L Celanes...
31
Philips. Petroleum
#1
Wm. Powelle'
Public Service of NJ.
371
Pullman Inc.
224
251
321
Pure Oll.....
Chrysler Corpn.
691
Radio Corpn. of Am, .....
51
LONDON
afternoon.
Columbia Gas & El.
51
Republic, Steel
144
Sterling
Columbia 6% -“A” pf.
84
Reynold Tobac, “g”
384
Richfeld Ou
No business was reported, finish- | Comméretal .............. ing with sellers at 1/2.15/18 July. Commonwealth & 8. (ord) 1/2.25 A2 August/September and C'wealth & B. 6% cum pf
431
Loudon, July 7.
it
Safeway Stores
414
831
Schenley Distillers ....
1/2.3/4 October/November, buyers | Consolidated Edison
30%
Schenley, 54% pfd.
at 1/227/32 Cash, 1/2.13/18 Sep- Consolidated Oll tember, probably August and 1/2. Continental Can 25/32 November.
U.S. DollarR The market closed with sellers at 28 7/8 July, 28 13/16 August and 23 3/4 September, buyers at 28 15/16 Cash, 28 7/8 August and
28 13/16 Arst half October.
Shanghai Dollars
Sellers at 225 1/2.
Corn Products Curtiss-Wright (C) Curtiss Wright "A" Deere & Co.
Du Pont de Nemours
Eagle Picher Lead
Eaton Mfg. Co.
72
Sears Roebuck
75
38*
Seversky Aircraft
£
*Sales to Shanghai
STOCK EXCHANGE
(REUTER'S SERVICE)
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.
(By Courtesy of Messra, Swan, Culbertson & Fritz and
3. E. Levy & Company)
New York Cotton, Oct. New York Rubber, Sept. Chicago Wheat, Sept. Chicago Corn, Sept. Winnipeg Wheat, Oct. New York Hides, Sept.
Prev. To-day's High Low Close Close Change
8.90
6.82 8.92 8.84 .08 off
16.38a closed 681 67. 68* 67% 1 484
48 471
472 of 1 off
574 5557 56
11.07 closed
NEW YORK COTTON
Close
Opening Closing
Charige
July
9.56/58
9.55/55
9.53/54
*02 of
31
October
8.91/92
Continental 'Oli
22]
Shell Union Oil
107
803
Bocony-Vacuum Oll
11+
War Loan, 31% (Red
after 1952)
5+
Southern Pacific.
121*
24+
Southern Rly 35 pfd.
184
Sperry
41
Distillers Corpn. Seagrams Douglas Aircraft' .....
171*
Standard Branda .......
#
661
Stand Gas & Elec.
27
1925-47........
149)
Standard Oll of California
254
Canton-K'loon Rly. 6%
Chinese 41% Gold Loan
1888 (Brit. Issue)......
Chinese 5% Gold Bonds,
Chin. 41% Anglo-French
Union Insurance
28-7/8 93-13/16 Gula Kalimpong Rubber 18/104
Allied Ironfounders ...... 14
8.90/98
8.82/84
08 od
December
8.71/72
8.72/71
8.83/65
.07 off
January
8.80 N
5.60/60
8.52/52
.09 ott
17/6...
Loan, 1908 ...
81
Standard Ou of NJ.
411
ነነ
22
Stons & Webster
10
Shanghai Market
Elec. Autolite.
291
Swift International
24
1912
Unchanged, quiet
Elec: Bond & Share
7
Technicolor
147"
· 1913 (Ldn. Ia}
Elec. Bond & Share $5 pr.
Texas Corpn.
38+
Elec. Bond & Share $8 pf.
04.
Texes Gulf Sulphur
27
Shanghai Exchange
Elec. Power & Light $7 pf.
234.
Trans-América Co,
6%
Fintkots
18
20th Cent, Fox.
Shanghai, July 10 (Reuter).
Food Machinery Corp.
231
20th Cent. Fox $13 pt.
Official TT. Rates
London
0/6-1/2
Gen. American Trans.
481
Union Carbide & Carbon
75
Oen. Electric
341
Union Pacific ..........................
95
New York
12-5/8
Gen. Motors...
42
United Aircraft
351"
Japan
40
Gen. Railway Signal .................
151*
United Airlines Trans.
101
Paris winsanı
6.48
General Tire & Rubber Co
221
United Corpn.
21
5%
Hongkong
36
Glidden Co. ......
United Corpn. $3 cum. pt.
India
38
Goodrich (B.F)
104
United Gas Corpá.
13
Open Market--Selling Rates Sterling
Goodrich $5 Di.
United Gas Improvement.
121
F.
Goodyear Tire & Co. ............. Great Northern Iron Ore... Great Northern, Ely, pfd. 207.
231 **
US. Rubber
141.
U.S. Rubber $8 pid.
U.S. Steel
Great Western Sugar
.258
Vanadium
Spot
Greyhound Cofpr
171
Warner Bros. Pict.....
Westinghouse Hoc.
Homestake. Mining
Woodward Iron Cor.
3pot
July
Chase National Bank National City' Bank-
-bid.
DOW JONES AVERAGE -
July
Opening Closing
Sellers
·0/6-9/16 ·· 0/6-9/18 0/0-15/230/8-15/32
U.S. Dollars
$12-25/32 $12-25/32- 12-19/32 12-19/32
Market:Quiet,
Stening
Merchant Rates
0/8-1/2 312-11/16
US Dollars.
Sliver Duty Balo The Central Bank of China's. rate on London at 10 am, to-day was 1/2-1/2d, unchanged from quoted
The Squalisation rate was not Saturday
Becker Products”.
Industrial Rayon International Harvester
1920
High » Low Dow Jonse Averages, 15485 124 F200 Eridustrials.
36.33 94.74 20 Balle
26.52 20.71 20 Unilmes 12:12 87.00) Bands
July 2, 1939, July 7, High Low Claws Change 13331 138/16 133.08, 133940s up. 38.760 26.70 26.68 26.6603 all £3.61 23,81 28.70 23.80 119 up
2 88.4
61.09 45.59 11 Commodity Index 48.18
Barinos Dane:-110,000 shares:
- (Cfer. Btpd. Supl, Loan) 12
Jap. 5% Bter/Loan, 1007 32
Jap. 6% Bter, LORN, 1524 401 Ger: 1% Intl. Lóar, 1924 331 Chartered Bank
HE. &B'hat Bánk (Lán,,
HK & Shai Bank (Col
Reg.)
Chinese Eng Minh
(bearer)
Chosen Corporation Pekin Syndi
Vickers, ord.
Woolworths
Anglo-Daten
Rub. Plant. Invest. Trust 28/6
Burma Corporation and 7/7k Commonwealth. Mining.. Margman Investments. Randfontein Estates Western Holdings... Sub-Nigel
Tanam Gold Mining.
Chinese 5% Crisp: Loan,
Chinese 5% Reorg. Loàn,
Chinese 8% Ster, Notes,
1925 (Vickers)
| Chin: Imperial, Rly. :5%
Loan
Honan Rly, 5%
Hukuang Rly 5%, 1911.... Hukaang Rly.5% 1911
(German Issue)
Lung Tsing & U; Hai Rly.
Bhai-Ning Rly 5% 17 Tientsin-Pakow Rly, 5%
/*--(Brit, Stpd.),
39% Tientsin-Pukow Rly. 5%
103(German Stpd.).
33
12
451 Tientsin-Pukow Bly. 5%
19
41
1: (Brit. Brød. Bupl:Loan) 12
Tientsin Pukow Bly. 5%
151
321
ཆབ་སཚེས བསླབ་གླ་བྱུང་སྐུ སྐུ སྐུ བསྣུབ ཙཔ་
Asso, & Elec. Industries 39/3 Austin Motors, ord. i
March
8.49/50
8.40/40
8.41/42
108 off
May
8.42/43
8.40/41
8,33/34
23/9
Cable & Wireless, New
Form, ord.
Spot
8.96 N
9.87 N
.09 off
50
B.-A. Tob. (bearer)
95.
Cammell Laird, ord... Mexican Eagle
7/1
The last notice day for July cotton is 14th.
NEW YORK, RUBBER
8/3
Courtaulds Distillers... Dunlop Rubber Gen. Electric (England) 73/71 Guinness (A) Bon & Co. 104/9 Hawker Siddeley Airc. 17/3 Bristol Aeroplane ........ 20 Imperial Chemical Ind. 28/7. Imperial Tobacco
127/6 Marks & Sp'cer "A" ord. 57/104" Rolls Royce
mininama 215
94/3 28/3
July September
December March
16.31b/352
681/680
18.42/42
16.45/45
CLOSED
The last notice day for July rubber is 37th.
CHICAGO WHEAT
July September
670/671
664/664:
681/681
103/9
December
70/701
681/68 692/631
67/874
081/69
Leyland Motors Tate & Lyle
88/41
51/9
Friday's sales
-26,880,000 bushels
Turner & Newall
78/4
United Steel
23/6
CHICAGO CORN
Smethwick Drop Forg...
15
Armstrong Stevens, ord.
579
July
47/467
461/461
Pressed Steel, com.
17/4)
18/41
September December
480/481
482/487
472/477
494/401
4047491 481/481
62/42
22/8
WINNIPEG WHEAT
July
561/561
October
57/5711
578/574
14/3
December
59/591
501691
551/561 557/58 58/58
off
38/10
1179
NEW YOEK HIDES
208/11
44d
September
1107/07
CLOSED
Anglo-Iraniar
71/3
December
Burman
71/0
NZ Silver,
Shell Trane 67 Trad
(bearer)
82/8
11.35/85
36-1/2
NY London Cross Rate 4.68-178.
NEW YORK STRAITS TIN
September
48.15b/608