1939-10-16

HONGKONG DAILY PRESS.

Finance and Commerce

Chairman's Optimism At Marsman H.K. China Ltd.

Annual Meeting

An optimistic view of the future was expressed at the annual meeting of Marsman Hongkang China, Ltd.. by the Chairman... Mr. J. H. Maraman, on Saturday, and this despite the fact that "considerable losses resulting from operations Initiated in the previous period are reflected in this year's accounts.”

Supporting the chairman' were the following directors:-- The Hon. Mr. Stanley H. Dod- well, Messrs. T. B. Wilson, A. Beckerleg, B. $. Ohnick E. Robert de Vis (managing director) and L. M. 5. Lloyd (secretary).

under review up to September 30 have resulted in a net profit of £17,055-0-8.

METAL STOCKS

SHARE MARKET

REVIEW

HONGKONG SHAREBROKERS'

ASSOCIATION

During the early part of the week there was indication of in- creasing activity in the market and prices firmed under a per- sistent enquiry for most stocks. Later, however, with the publica- ton of the draft of the proposed new taxation scheme the market

adopted a more cautions note. Profit taking was encountered on The Report of the Directors) ♬ small scale and the market has covers the operations of the past closed to-day under dull trading year quite fully and I shall, there- | conditions,

fore. confine my remarks to A fair business has been repor CHAIRMAN'S SPEECH....

changes which have occurred since led in HK Bank shares at $1245 The chairman said in part): the close of the fiscal year.

and $1250. There is a further de- In closing the accounts for the You will note from the Report and but shares are difficult to year ended April 30. 1939. the that the sum of £281338.-.- was obtain. There has also been en- Directors have considered It wise written of the Metal Account. inquiry for Cements resulting in to write down all assets to actual order to bring the figures into line business 4+ $14 Hotels after value as of that date. This. com-with market prices. In view of changing' hands at $4.60 could be bined with the fact that the con- the turn of world events, metal obtained at $4 HK Ducks re- siderable losses resulting from prices have advanced. and, as a mained steady at $18 and Electrics operations initiated in the pre-result, the Metal Stocks as at were wanted at $50 without at- vious period are reflected in this October 13 have a market value tracting sellers. Providents chang- year's accounts, obscures the plc-of about £30,000 in excess of theed hands up to $4.30 but later ture of the results achieved in the book value.

could be obtained at $4.15. merchandising of Business has been reported in

year under review.

While the

As explained in the report, these commodities handled by this De-Wharves at $101, Lands at 332; results may be considered very partment is hampered in various Ropes at $4.90% and Watsons, at $8. satisfactory in view of the very respects. valuable contracts and Trams were obtainable at $16. disturbed conditions prevalling, consumer connections have been The Manila market has con- and I foresee for the current year extended throughout the worldtinued dull and the volume of still better results. Inasmuch as and our organization generally has business reported very limited. the management. after solving the been considerably strengthened, Prices of gold mining stocks have We look forward to an extensive been inclined to sag through lack problems created in the past. is now able to devote all its time to increase in volume of business, in of interest. current business and plans for the fact, since the close of the year. future.

the metals Department has made In fact the Company's opera- quite substantial profits. tions since the close of the year

Continued on Page 11

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGE

SHAREBROKERS ASSOCIATION

Boyers Nellers

Sales Nomsiqal

SATURDAY 14.

uyer Baller Sales Nomina

ост.

H. K. STOCK EXCHANGE

Saturday, Oct. 14.

FINANCE

Nata

MONDAY OCTOBER 16, 1939. —PAGE

Hongkong Daily Press CLASSIFIED

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