PAGE 12-HONGKONG DAILY PRESS
Finance and
MONEY AND
Shanghai Exchange
Commerce
Conditions in the exchange mar-
EXCHANGE et have been erratic, with sharp,
| wide. fluctuations in evidence,
Uncertainty is prevailing due to [profit-taking, out-port selling ot-
U.S. PLACES
EXPORT PREMIUM
ON COTTON :
export premium of 11 cts. per WASHINGTON, July 24 (T/Ocean)
„CLOSING QUOTATIONS ders and speculation as to the out--An
JULY 24, 1939
On London:
Telegraphic Transfer. 1/2 19:33 Bank Bills, on demand!/2 17/32 Credits 4 months' sight 1/927/32 On Shanghai:-
On demand
On Singapore:-
On demand
On Japan:-
On demand
On India:
Telegraphic Transfer.
and demand
Un New York:-
200
come of the Anglo-Japanese talks pound: for United States raw,cot- In Tokyo.
Official T.T. Rates Shanghai, July 24 (Reuter).
London
New York
Opening 0/4 7-3/4-
Japan
India
51 3/4
Paris
Hongkong
28-1/2 22-1/2 2.49 27-1/8
N
104
}
Open Market-Selling Rate Sterling
Ballers
J81 1/2
Bank Bilis, on demand 98 76 Credits, 60 days' sight s8 10/16
Un Batavia :----
On demand..... 53
On Paris:-
Bank Bills. on demand 1073 Credits 4 months' sight 1115
Un Saigon.
On demand
Opening Closing
ton and cotton goods was an nounced by Secretary of Agricïl- ture, Mr. Henry A. Wallace, here yesterday,
This premium. It is hoped, will help to imprové the export position of American cotton farming, the present plight of which the Gov- ernment is anxious to alleviate, specially with a view to the forth- coming presidential elections.
Mr. Wallace expressed the hope that the premium would only be Spot 0/4-7/18 -0/4-17/32 · - | necessary for a limited period of July................. 0/4-13/32 0/4-1/2
U.S. Dollars
Spo: .......... $8-5/8- 38-27/32 July ...... 8-9/18 .8-25/32 Market:-Uncertain."
Merchant Rates Sterling .... U.S. "Dollars
0/4-5/16 $ 8-3/8 Silver Duty Rate The Central Bank of China's rate on London at 10 a.m. to-day 1/2-1/24. unchanged from
FINANCE
HONGKONG SHARE QUOTATIONS
STOCK EXCHANGE AN
Bayern ||| Ballan
$900
$300
$405
$1.35
#!
$105
time. He wished to assure the 816 other states that the United States intended only to secure a fair share of the world market and was not planning any wholesale dump- ing.
18
The United States would wel- come an international catton agreement and would support any Initiative which was taken in this direction. In such an agreement. well informed quarters declare, the United States would propose a The Equalisation rate was not limitation of production to the
South American states,
was
.. 107
Un Manila: --
· On demand
57 1/8
On Bangkok ---
On demand
152 1/4
Sterling Notes:-
Bank Buying Rate
Bar Bliver per oz.
1/3 13/16 | quoted, 10 7/8
Saturday.
•
NEW YORK STOCK EXCHANGE
STOCKS
Market Report
FROM ROZA BROS.
The price for Ready Sliver rose 1/16 to 16.7/8 but the Forward
rate was unchanged
at 16.3/8. Adams Express
Silver advices reported the market Alleghany Steel Co.
as being steady with a small busi-Allled Stores ness
QUOTATION
SHAREBROKERS• ASSOCIATION
Mont
MONDAY 24,
JULY
„Banks.
$1330 H.K. Banks
£80
Do.. (Cal. Bag.) ``...
£76
£8
£30
276
Do. (Lon. Reg
Chartered: Hanks
921) Marosatile Bks. **** £13) - Marcantile Ban, “g"!
$90
Bank of East Asia ... N. C. B. Banka.
Insurances
Canton Insursocas Union InsurEDCON Underwriters
185H.A. First
Shipping
987
Douglases sporpanel
$15
Steamboat
#80
Indo-Chines
30
"83/9
lodo-Chinas (Def.}... Shells
$8.10 Waterboate
Docks, Wharves, Godowns, etc.
HK. K. Wherred
$4.40 Providenta
Providenta (naw)
H.K. & W. Docks...
Do., (new)
8108 Shanghal Docks & 38.30 New Enginestings B.
Mining
17/6 Kailaren
$9.40 Raubam
"Venezuela Gold Fide
4 eta, Hong Kong Mines...
$5
$35
par
E
Lands, Hotels and
Buildings"
H.K. Hotas
H.K. Lands.......5.
Do. 4% Debectares
$8.60 Shanghai Landa 8. $4,80 H.K. Boultion
Humphreys ......
851
8100 Chinese „Estates
Cotton Mills
318 Ewo (8.) #105 S'ha Cottoar (8.)
$43
kw
Zong Sings (9.) 48 Wing Or Textiles (8.)
Public Utilities
Tramways
87 40 Peak Tram (old) $3.70 Peak Trams (new) $85 Star Ferriss .........................` $237'mati Farris
Do. (new)
$8.20 China
(0)
Chins Lights Rta.
116 117
*** RUDJEL
Wr
#1: !!!*
!!!
TUESDAY, JULY, 25, 1939.
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING HONGKONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
480
50 ats
$200
$406
$185
$67
$10
850
$20
63/9
#3
S. POT
OCT.-DEC.
$104
-$4.40
$17.
$106
$8.30
17/0
#81
85.40
New York, July 23, 1939.
SINGAPORE RUBBER
"July 2 buyers sellers
change
28-3/8 28-5/8 28-5/8 28-7/8
July 21 buyers sellers 23-1/4 28-1/2
up 1/8 28-1/2 28-3/4
up 1/8 28-5/8- 28-7/8 28-11/16 28-15/18 up 1/18 The market opened 1/4 of a cent higher for all deliveries na com- pared with Friday's closing quotations,
JAN.-/MARCH
The market ruled steady early in the morning due to better de- mand for Immediate and near deliveries, particularly from York
Now
Subsequently, however, the market turned very dull, operators apparently, awaiting the result of the July 25 meeting of the Inter- national Rubber Regulation Committee. In view of this fact there was lack of speculative buying interest as well as absence of selling pressure all of which made for market inactivity.
American Motorcar production for the week ending 21 instant showed a sharp decline which, however, is seasonal. Reports on American business-recovery continue to be favourable. It is, there- fore, felt that further price-Improvements may be confidently anti- cipated, always providing that the market will not be subject to out- side innuences such as labour troubles. political tensions ets.,
LONDON RUBBER
Previous close To-day's close. buyers sellers buyers sellers 8-3/8
6-7/16
8-7/18 8-9/16
8-0/18" 8-5/8
change
$35
$140
81.80
181
919.1 8110
$40
$45
SPOT
-$161
་་ $7.40
OCT.-DEC.
JAN-MARCH
$3.70.
4108
Market closed.
Last Sale!
JULY 23, 1939
July 22
STOCKS
81
Last Sale July 22
$16.56
CLOSED
191
Int. Tel. & Tel.........
7
97
Johns Manville
802
done. Bears covered small extent. The American mar-
to a
Allis Chalmers ... Aluminium Ltd
381
J. & Laughlin Steel $7 pfd. 46 *
1301
Kennecott Copper
371
ket was unquoted.
Amerada Corps. Amer. Can
647
Libbey-Owens-Ford
Glass
521
$0.10 China)
$8,10
85.10
96
Lockheed Aircraft
271
The London/New
York rate was quoted at 468.25.
Cross Amer. & Foreign Pöwer ...
21
Loew's Inc.
451
$63.8541
H.K. Electrics
$IA
Macao Electrion .....
Ameri & Foreign #7 pf....
201
Manhattan Shirt Co.
13
#12
Sandakan Lights:
Market
American Gas & Elec
38
Martin, Gien L.....
35
$25
Telephones (old),,
122
Quiet.
Amer. Locomotive
201
McKesson, Robbins
18
$7.81 Telephone (new)
7.30
Amer. Metals Co.
304
Monsanto Chemical
2037
18/0 Tractions
The average forecast of last week's stocks of rubber in London and Liverpool shows a decrease of 2,400 tons.
NEW YORK COTTON
Early in the session the market ruled Irregular, easing slightly on liquidation and selling. Later however, good buying and covering advanced prices Weather, crop prospects and the forthcoming subsidy announcement are all major market influences.
Sterling..
Amer. Radiator
13
Montgomery Ward
55+
21/6 Tractions (prof.)
Industrials
NEW YORK RUBBER
Business was done at 1/2.11/18
Amer. Rolling Mil
181
National Cash Register Co.
204
$14
for July and also 1/2.21/32 Sep Amer. S'ting"and Ring Co. tember. The market closed at 1Amer. Sugar Ring p.m. with sellers at 1/221/32 July/Amer. Tel. & Tel September and 1/2.5/8 October Amer. Tobacco "B" November, probably December. Amer. Waterworks
43.
at. Dairy Products
173
161
Nst. Distillers
26
1671
National Gypsum
131
85
National Loedger
23
111
Nat Power & Light
.91
201
Cald, Mang. (Ord.) 8.
Market closed,
310
Cald, Kacg (Fref.) 8. Canton Leen
$1
$3.70 Ropes
buyers at 1/2.11/18. Cash, 1/2.21/anaconda Copper 32 October and probably 1/2.5/8Atchison, T. & S. Fe. January.
U.S. Dollars
A small business was done at 28.5/8 for August delivery. market closed at 1 p.m. with sell- ers at 28 5/8 July. 28 9/16 August, probably September, buyers at 28 11/16 Cash, 28 5/8 August and: 28 9/16 Arst half October.
Shanghai Dollars
Barnsdall Ol...... Bendix Aviation Bethlehem Steel Bliss & Co.
Opened with sellers at 322 with B'klyn-M'hattan $6 cum pf. bustness done subsequently at 332 Canadian Pacific R'way....
The market then sagged to 310. Case, J.I.
Towards 1 p.m. there were sellers Celanese
278
National Steel Corp.
66
·30元
Nat. Supply Corpn.
9
Auburn Motors
New York Central
161
Baltimore & Ohio
51
Niagara Hudson Power
7
Barber Asphalt Co
141
N. American Aviation .....
181
141
North American Co.
24)
*:*
The
264
Northern Pacific
91
Watsons
65
Owens-Tilinols Glass Co.
672
Pacific Gas & Elec.
101
33..
$104
$12.60 Cements
Miscellaneous -
$21 Dairy Farın (Old). 1201 Dairy Farm (New) $8.90 Ch. E'timenta ...... $1.55 Constructions
Constructions
371 Lane Crawford
Nanyang Tobacoo
$1.80 Binders
$8,40
ྂ---------ཝཾ
33. Ch. 2.5% 1925G Bd...
ELE, Gort. 4% Loans
| #12.60
CHICAGO WHEAT
$3,50
Bal
$8.90
(old)
(ww)
Prices moved lower on the easier Winnipeg market." liquidation and profit-taking. Rainfall in Canada was a favourable factor, but was insufficient to affect the market to any extent. The subsidy announcement, probably next week, is awaited with interest both in Chicago and Winnipeg.
also
or
87)
Previous To-day's
close
"close
Change
$1.98
New York Stocks
143.46.
144,71
up 1.25
35 lo
8104
Boeing Airplane Co. Borg-Warner
241
Pacific Lighting
49
399
R.K. Govt. 8% Loma
981
261
Packard Motors
32
$41
H. Wing Ou
Hi
Biggs M'facturing
231
Paramount Pictures
S'hat "Wing On................
10
#81
Vibro Piling
$8
Brooklyn-M'hattan Trana.
Pennsylvania R.R.
13
191
14/8
Marsmans for. (Lou.)
43
Phelps-Dodge
404
4/0
Maramane Lov. (H.K)
41
[Phillips Petroleum
36
Public Service of NJ.
77
393
Pullman Inc.
261
297
at 322, buyers at 325...
Shanghas Market
Chesapeake & Ohio
Chrysler Corpn.
Colts Patent Fire-Arms
351
Pure Often
71
84
Radio Corpn. of Am.
LONDON
80
•
Reading Company, ist pfd
..
23
sellers
for Spot.
Opened nominal at 43/8 for Columbia Gas & E. ....................* Caah. Subsequently the
Columbia 8% "A" pl....... eased to 1/4 The market ther Commercial reacted and sellers were reported Commonwealth & 8. (ord.) at 4.5/8 for Spot. Towards 1 pm C'wealth & 8. 6% cum pt.
the market eased off to 4.7/16
Consolidated Edison US Dollars Consolidated Oi
opened nominal at 8.3/8 and Continental Car closed at lunch time at 8.5/8 for Continental Of Spot,
87
Remington Arms Co., Inc.
23*
market
86
Republic Steel,
181
Reynold Tobac ̈"B"
Landon, July 21
491
40
Richfeld On.
1j.
T
68
Safeway Stores
46
327
| Schenley Distillers
13
71
|Schenley, 54% pid
&
381
Bears Roebuck
801
221
| Seversky Aircraft
37
¡Corn Products .....
82+
Shell Union On
114
Canton-K'loon Rly,5% 12
Curtis Wright (C.)
54
Bocóny-Vacuuru Off
12
Curtiss' Wright "A"
251
Southern Pacific
15)
1898 (Brit. Issue)...... 38
ber.
U.S. Dollars
Afternoon Market
The market was quiet in the afternoon.
Sterling
Some business was done at 1/2. 321/32 October. The market closed Elec. Autolite
with sellers at 112.21/32 July Elec. Bohd & Share first half October and 1/2.5/8 Elec, Bond & Share $5 pf. Elec. Bond & Share $8 pí. October/December, buyers at 1/2. 11/10 Cash and 1/221/32 Noyem-Elec. Power & Light #7 pt.
A small business was done at 28 Gen. Mectric
5/8 for August delivery. The Gen. Motors... market closed with sellers at 28 Gen. Railway Bignal 6/8nly and 28 9/16 August General Tire & Rubber Co 24 buyers at 28 11/16 Cash and 28 01dden Co.
3/8 August.
Shanghai Dollars.
Sellers at 318...
Shanghai Market,-" Steady. Sellers of. Sterling at 9/16 for Spot and UB. Dollars
8.1/8 for Spot.
Great Northern Rly, pid. Great Western Bugar Greyhound. Corpn.
Eecker
Products
Deere & Co.
21
Southern Rly 85 pfd
Distillers Corpn. Scagrams
18)
Sperry
451
Douglas Aircraft
731
Standard Brands
67
Du Pont de Nemours
1583
Stand Gas & Elec.........
721
Eagle Picher Lead
91
Standard Oil of California,
Eaton Mfg. Co.
25+
Standard Oll of NJ..
43
1812
381
Stone & Webster
12
Chinese 5% Reorg Loan,
Swift International
271
1913, (Zdn. Is.)
Technicolor
16.
Chinese 8% Btar. Notes,
68
Texas Corpn.
371
30
Tezes Gulf Sulphur ................
30
Funtkote n Food Machinery Corp. Gen. American Trans.
221
Trans-America Co.
·33*
20th Cent, Fox
201
521
20th Cent, Fox. $14 pf. ........-30
381
Union Carbide & Carbon 831
48
Union Pacific
....... 19
| United Aircraft
*387-
United Airlines Trans...
10
United Corpn.
124 21
Goodrich (B.F.)'
Goodrich $5 pt.
Goodyear Tire & Co.
Great Northern Iron Ore
101
United Corpn. #3 cum. pf. 371 681 United Gas Corpn.
32.
-141*.
United Gas Improvement 134 US..Rubber
481
214
US, Rubber #8 pta:
1104
U.B. Steel
537
101
Vanadium
247
127
Warner Bros. Pict.
fap. 6% 8ter, Loan, 1907 201
Hercules Powder Co
73
Westinghouse Mec.
110
Jap. 6% Ster Loan, 1934 33}
Homestake Mining
Woodward Iron Cor.
-22:0
HONGKONG
SHAREBROKERS
ASSOCIATION
Volume of Business Transacted
on Monday, July 24, 1939.
11 $1,320.00 $295.00 Loan $50,000 par
(23.52, 420.71) 20 Utilities 99.23 87,06 40 Bonds
Industrial Rayon #
27
Chase National Bank ......
Ger. 7% Intl Loan, 1924 334 Chartered Bank
International Harvester Int. Nickel C
581
National City Bank
501
DOW JONES AVERAGE
HK. & Bhai Bank (Lda.
HA & Bhai Bank (Col
Reg.)
1989
July 23, 1829,
Chinese Eng“ * Mint
High Low Dow Jones Averages, 154.85 191.44 20 Industrials
34.28 26110 Balle
PS 0.24
51.99 45,59 11 Commodity Index 47.09
July 21, High Low Close Change || (begrer) 143.38 146.09 143.97 144.71 1.26 up Chosen Corporation..
22.8630.30 20,05 90.90
up Pekin Syndicate..... 25.53 ***|| 26,00 25,89 26,01
28 up 89,05
80,05 11 Business Dome-810,000 xbarón....
shal Bec. Constr. Co.
0 Shal Waterworks AR 194
པ གླ ༞ ༞ ན ཚོ ཌ འ བ བ ཌ ཌ ཌ འཆུཊྛོ ༔ ་ྩ བྷདི༔
Asso. & Elec. Industries 40. Austin Motors, ord. 28/9 Cable & Wireless, New
Form, ord"
501
B.-A. Tob. (bearer).
92/8
Cammell Laird, ord. Mexican Eagle
·7/14-
+7/71
1925 (Vickers)
Chin. Imperial Rly, 5%
Loan
Homan' Rly. 5%
Hukuang Rly. 5%, 191113 Huknang Rly. 5%. 1911
(German IssUS)
Lung Thing & U. Hai Rly, (45% 1913
S'hai-Niking Rly 5% 13 Tientsin-Pukow Rly, 5%
(Brit. Btpd.)
Tientsin-Pukow Rly, 5%
(German Stpd.) Tientsin-Pukow Rly. 5%
(Brit. Stpd. Bupl Loan) 11 Tientsin-Pukow Rly. 5%!! (Gler, 8tpd; Supl. Loan) 11.
Anglo-Dutch
Rub. Plant. Invest. Trust 26/43 Burma Corporation ...... 7/8 Commonwealth Mining.
Courtaulds
Distillers Dunlop Rubber
Gan. Electric (England)-74/3 Guinness (A) Bon & Co. 100/6 Hawker Siddeley Airc... 16/9 Bristol Aeroplane
18/3. Imperial Chemical Ind. 28/7+ : Imperial Tobacco
131/3 Marks & Spicer "A" ord. 59у41.
Wm. Powell
*Bales to Shanghai
STOCK EXCHANGE
(BEUTER'S SERVICE)
A
"The following quotations are the middle prices, så the class of the market in London. All quotations are subject to confrms- tion and no responsibility is assumed för errors in texnamission.
Union Insurance ..........
26-7/8* 92-9/16. Gula Kalumpang Rubber 16/10
Allied Ironfounders...... 17/6
War Loan, 31% (Red
after 1952)....
Chinese 41% Gold Loan,
Chinese 5% Gold Bonds,
1925-47
Chin, 43% Anglo-French
Loan, 1908
26% Chinese 5% Crisp Loan,'
N. Y. Commodity Market
(By Courtesy of Messrs, 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'i Low Close Close Change. 8.70 8.60 8.65 8.64,0.1 off
18.66 closed
411 391
11 off
528 51 52 514 1 од
11.70 closed
High
651
632
64 63
NEW YORK COTTON
Close
Opening
October
8,64/65,,
December January March
8.53/53
Closing 8.64/64 8.49/49 8.54/54
8.61/50
-8,40/40
8.36b/37a 8.40/40
Change
2.01 of
01 up unch.
.832/32:
8.30/30
8.32/32
May
8.23/23..
8.21/21
8.23/23
July
8.14/14
8.13/12
8.15/17
Spot
9.44 N
9.44 N
NEW YORK HUBBER
4/104
27/3
July
10.60/04
September
16,65/66
December March
416.71/72
CLOBED
16.75/75
The last notice day for July rubber la 27th.
Rolls Royce
101/10
Leyland Motors Tate & Lyle
02/09
July September
42/71
December
Turner & Newall
73/41
641/642 647/648 83/631 66/681 664/661 66/851
Friday's sales:-27,743,000 bushels
CHICAGO WHEAT 64/641
622/621
off
off
United Steel
23
Smethwick Drop For 14/8
Armstrong Stevens, ord: 5/9
Pressed Steel, com
18/0
July
CHICAGO CORN 301/39
301/301
Vickers, ord
Woolworths
18/41 84 22/11
September December
404/401 401/401 307/40 417/42
1423/4214
WINNIPEG WHEAT.
414/411
Marsman Investments..
Randfontein Estates
Western Holdings
Sub-Nigel
Tanami Gold Mining.. Anglo-Iranfan
14/6 36/101 11/4
July October December
5217521
511/514
520/522
52/52
611/511
641/54
341/54)
531/531
NEW YORK HIDES
210
过
September
11.69/70
Burma!
75 12/0
December..
12.04/04
17/0
Shell Trans, ^de
(bearer)
NY Silver, Omcial .......... 34-3/4 NY-London Cross Rate 4,68-1/4
83/9
Nom
22/8
September
NEW YORK STRATTA TIN
48.056/40%
Closed