Market Report
FROM, ROZA BROS.
30 18/16
After ruling firm on outside buying, market reacted on selling against godown purchasing.
NEW YORK COTTON: Continued Southern and Spot house selling for May and July was absorbed by heavy domestic price- fixing operations and by-scattered buying. The market looks irre- gularly higher.
NEW YORK RUBBER: We would suggest switching of May contracts into September.
CHICAGO WHEAT: Continued reports of crop damage and low yields failed to dispel fears of hedge pressure and the feeling that the recent advance was too rapid. The first government estimate places the Winter crop at 426.215,000 bushels which was about ds
NEW YORK STOCKS: Previous close. 150.31; Today's close. 149.59; Change, off 72.
FRIDAY, APRIL 12, 1940.
BANKS
HONGKONG & SHANGHAI THE CHARTERED BANK OF
BANKING CORPORATION
Authorised Capital 850.000,000
INDIA, AUSTRALIA AND CHINA
Issued & Fully Pald-Up $20,000,000 Incorporated by Royal Charter, 180s
Reserve Funda:
Paid-Up Capital £6,500,000 Reserve Fund
£3,000,000
..£3,000,000
£3,000,000
HEAD OFFICE: LONDON:
H.K. Currency Reserve $10,000,000 Reserve Liability of Pro- Reserve Liability of
prietors
Sir Vandeleur M. Grayburn,
Chief Manager.
Patani Swatow
(Johore) Tientsin Mukden Tokyo New York Tsingtao Peiping Yokohama
350
COMMODITY
MARKET
PAGE 10-HONGKONG DAILY PRESS
FINANCE
FOREIGN MARKETS & QUOTATIONS
MONEY AND EXCHANGE
CLOSING QUOTATIONS
APRIL 11, 1940.
On London. ---
Telegraphic Transfer. 13/16 Bank Bills, en demand 1/2 13/16 Credits 4 months' sight : 3 1/8 On Shanghai:...
On demand
On Singapore:-
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHANGE BUILDING
HONGKONG
NEW YORK STOCK EXCHANGE
STOCKS
Adams Express
QUOTATION
(REUTER'S SERVICE)
APRIL 11, 1910 STOCKS
Lakey Foundry & Mac, Libbey-Owens-Ford
Last Sale
Apr. 10
71
Alleghany Steel Co.
231
Last Sale Apr. 10
Glass 503
Sterling
Allied Stores
81
Lockheed Aircraft
371
Allis Chalmers
16
Loew's Inc. ......
35
Proprietors.....g
..$20,000,000
REVIEW
Aluminium Ltd.
104
Loft Incorperated
381
Amer. Can
115
Mack Truck Inc.
Head Office:-"HONG KONG
ary
On demand'
52 1/9
(FROM PAYNE & CO.)
American Cyanamid B
39
Martin, Glen L
147
On Japan:-
On demand
01
SINGAPORE RUBBER
On India:
NEW YORK, APRIL 10, 1940 Previous · April 10 Closing Opening Closing
Amer. & Foreign Power Amer
17
McKesson & Robbins, pfd. 271
& Foreign $7 pt.
251
Board of Directors: H. V. Wilkinson, Esq.,
Monsante Chemical
1141
American Gas & Elec.......
381
Telegraphic
Transfer:
Change
Montgomery Ward
5-41
Amer. Locomotive
201
82 1/4
Buyers
Buyers
National Aviation
15
and demand
Amer, Metals Co.
Chairman. Hon. Mr. J. J, Paterson,
Deputy Chairman.
SPOT
35-3/8
38 cts.
36 cts.
up 578
***
23
Nat, Dairy Products
17+
On New York:-
Amer. Radiátor
Bank Bills, on demand 21 3/ Credits: 60 days”, sight 22 1/4
JULY-SEPT.
34-1/8
34-7/8
35 ets.
up 7/8
et
Nat. Distillers
261
Amer. Rolling Mi
161
OCT.-DEC.
ནགཝཱཝཱ ཝིཝནཏྭཱཏོན
33-5/8
34-3/8
34-5/8
up 1 ct
National Gypsum
J. E. Bousfield, Esq.," A. H. Compton, Esq.,
101
Hon. Mr. 8. H. Dodwell,
Amer. 9'ting and 'ing Co.
53
National Lead
On Batavia:-
On demand
On Paris:---
30 5 S
The market was quiet but steady... LONDON RUBBKṚ
22
G. Miskin, Esq.,
Previous close Today's close
Amer. Sugar Refining
21
Nat, Power & Light
Buyers
Buyers
Change
Amer, Tel, & Tel.
174
National Steel Corp.
Amer. Tobacco "B" "
Bank Bills, on demand oss
Credits. 4 months' sight 1140.
SPOT
11-1/16
11-3/15
up 1/8
.90%
National Supply Corp.
5. S. Morrison, Esq.,
T. E. Pearce, Esq.,
C. O. Roberta, Esq.,
Amer. Waterworks
101
MAY
11-1/8
11-3/16
up-1/18
New York Central
17)
Hon. Mr. A L. Shields,
On Saigon:
On demand
Op Manila:-
JUNE
11-1/8
11-3/16
up 1/16
Anaconda Copper
311
Niagara Hudson Power
51
FOR LA
JULY-SEPT.
11-1/8
11-1/8
unch
Atchison, T. & 8, Fe.
23
N. American Aviation
24/
Auburn Motors
1}"
North American Co.
:
OCT.-DEC.
11-1719
11-1/16
unch.
221
Aviation Corp.
7A
On demand
On Bangkok:-
On demand........
42 3/4
hedge-
Northern Pacific
81
Branches:
Baltimore & Ohio
51
Owens-Ilinois Glass Co....
62
Amoy
Johore
Barber Asphalt Co.
13
Pacific Gas & Elec
337
Bangkok
Kobe
150
Barnsdall ou
114
Pactic Lighting
47
Batavia
Kowica
Rangoon Saigon San
On Sterling Notes:
Bendix Aviation
344
Packard Motors
32
Bembay
Kuala
Bank Buying Rate
1/4
Bethlehem Steel
"811
Pan-American Airways
23
Calcutta
Lumpur
Francisco" Shanghai
Canton
Bar Silver per oz.
Bliss & Co.
187
London
Paramount Pictures
74
Chefoo
Lyons
Boeing Airplane Co.
261"
Pennsylvania R.R.
22
Colombo
Malacca
Borg-Warner
Singapore Sourabaya Sungei
237
Phelps-Dodge
+382
Dairea
Manila
Bridgeport Brass Corp.
121
Phillips Petroleum
39
Foochow
Muar
Briggs Mig.
221
Pittsburg Coke & Iron
Haiphong
Brooklyn-M'hattan Trans.
231.
Public Service of NJ.
42]
Banko
Brooklyn-Manhattan $5.
100
Pullman Inc.
Harbin
263
Canadian Pacific R'way Case, JI.
5$
Toile
Pure ou
10
705
Radio Corp. of Am.
Ipoh
Penang
Bi
Celanese
327
Reading Company,
Com
1541
Chesapeake & Ohio
40
Reading Company, 1st pfd
268
Chrysler Corpn.
871
Remington Arms Co., Inc.
41.
Climax-Molybdenum Co...
391
Republic Aviation Corp.
63
Colts Patent Fire-Arms
79
Republic Steel
22
*
Columbia Gas & Elec.
63
Revere Cop. & Brass Inc.
134
Columbia 8%. “A” pl. ----
02
Reynold Tobac, "B"
42A
New York Cotton, May New York Rubber, May Chicago Wheat, May Chicago Corn, May New York Hides. June NEW YORK COTTON
18.98
1077
13.56 106 591 577 14.17 14.00
up 18,82 18.66 .18 off 107 1084 1,1 Off
58. 583
up 14.12 14.03
Commercial Credit Co.
461
Richfield Of
71
Com, & Southern (Ord.)
13.
Safeway Stores
513
Consolidated Edison
31
Schenley Distillers
13
Consolidated 01
73
Sears Roebuck
851
Close
Opening
Closing
10.72/72
10.72/72
10.73/73
10.48/48
10.48/48
10.48/48
10.63/53
10.64/64
10.62/62
.09 .off Change
.01 up
.unch.
01. off
Continental Can
48+
Shell Union Oil
121
Continental Of
23
Socony-Vacunum Oll
111
Copperpreld Steel
221
Southern Pacific
131
Corn Products
61
Southern Rly $5 pfd.
277
Curtiss Wright (C.)
101
Sperry
451
"9.98/98
9.95/96
*9.96/96
02 off
++
Curtiss Wright "A"
281
spicer Manufacturing Co. 36
December ( }
9.84/85
9.84/84
9.84/84
unch...
Deere & Co.
*221
Standard Brands
74
January
9.80 N
9.80/80
9.81/81
.01 up
Distillers Corpn. Seagrams
181
Stand Gas & Elec.
17
March Spot
9.72/72
9.72/72
9.71/72
.01 off
Douglas Aircraft
87
Standard Of of California
23+
10.03 N
10.92 N
"01 off
Du Pont de Nemours.
1831
Standard Oll of N.J.
421
Eagle Picher Lead
113
Stone & Webster
91
Eaton Mfg. Co.
351
Studebaker Com
111
Elec, Autolite
391
Hong Kong, 25th Feb., 1939,
Swift International
301
13.82/84
18.90/98
18.66/67"
16 off
Elec. Bond & Share ........
67
Technicolor
15
18.32/32
18.45/47
18.25/25
.07 off
Elec. Bond & Share $5 pf.
604*
Texas Corpn.
481
18/12/15
18.24/24
18.01/05
17,90/90
17.86/87
11 of Elec. Bond & Share 56 pi 04 of Mec., Power & Light $7 pf.
673
BANK OF EAST ASIA,
Texes Gulf Sulphur
341
323
Timken-Axle
237
17.88 N
17.84 N
04 off Fisk Rubber
......
15
Trans-America Co.
Total sales:-1,710 tons. CHICAGO WHEAT
Flintkote
197
20th Cent. Fox.
101
Gen, American Trans.
53.
May.
July September
1073/1073 107/107 .... 1071/1071 100/1001
1071/107 108/106)
1067/1061 1061/1061
1
off Ger. Electric
39%
20th Cent. Fox, $14 pf.....
22}
Union Carbide & Carbon
83
1 of
Gen. Motors
544
Union Pacific
97
1061/100
1 off
Gen. Railway Signal
163
United Aireraft
48
Gen. Tire & Rubber
194
United Airlines Trans
213
Glidden Co.
177
United Corpn.
24
September
58/58 591/591 602/601
571/58
583/581
1 up
Goodrich (B.F.)
181
United Corpn. $3 cum pt.
40
601/502
up
Goodrich $5 p1.
871
United Gas Corpn.
11
817/614
מטי 3
Goodyear Tire & Co.
*23
United Gas Improvement
12
WINNIPEG WHEAT
Great Northern Iron Ore..
151
US., Industrual Alcohol,
241
901/901 901/901
891/891
1
off
Great Northern Rly, pfd,
258
0.8. Rubber
351
July
911/912
901/91
I off
Great Western Sarar
271
US. Rubber $8 prd,
1181
Sterling
October
931/931
921/92
i off
Greyhound Corpn.
16
U.S. Steel
612
23
NEW YORK HIDES June
Hercules Powder Co,
961
Vanadium
364
14.12/17
14.05/00 14.28/35
14.03/08 14.32/36 34-3/4 3.49-1/2
.00 off
Homestake Mining
571
Vultee Aircraft
101
.10 off international Harvester
55
Walworth On.
54
A303
Int Nickel
322
Habara
Koreioan
Loudow
Pening
Напрос
Warner Bros, Pict.
31
Bombay
Int. Tel, & Tel.
34
| Westinghouse. Bec,
113
Johns-Manville
714
Woodward "Iron Cor.
4
27
Bankow
J. & Laughila Steel $7 pid. 66 Kennecott Copper
Chase National Bank
342*
Honolulu
bearing
Kobe
378
National City Bank
291*
-bid.
Silver price, rose yesterday to the extent of 7/18 for Ready and 3/8 for Forward, the quotations ¦ expected. being 20.15/16 and 20.7/8 respec tively. Silver advices reported speculators as having bought to a small extent. The market was steady closing with sellers at the quoted rate. American Silver was quoted at 34.3/4 for Spot.
The London New York cross- rate was quoted at 402.1/2 New York/London was quoted at 349.
1/2
Quiet,
Market
Sterling
There were sellers at 1/2.7/8 May "April/August" and 1/2.27/32 Sep-July
NEW YORK
tember/December, probably Jan-July New contract) uary, buyers at 1/2.29/32 Cash October and 1/37/8 September.
C. S. Dollars
A small businesss was done dur- ing the early part of the morning at 21.3/4 for April. The market closed at 1 p.m. with sellers at 21.11/16 Cash, 21.5/8 "April 21.9/ 16 May and 21.1/2 July, buyers at 21.3/4 for Cash. 21,11/18 first half May. 21.518 June and 21.9/18. July.
Shanghai Dollars. Opened with sellers at 360 with! business done subsequently at 360. 1/2 At 1. p.m. there were sellers at 301.
Shanghal Market
COMMODITY MARKET (REUTER'S SERVICË)
Prev. Today's
High Low Close Close Change 10.73 10.68 10.72 10.73 .01
Total sales Tuesday:-99,400 bales.
First notice day for cctton:-1/5/40 and last day 22/5/40. NEW YORK RUBBER May July September
December January
Tuesday's sales:--59,872,000 bushels,
Sterling business was cone at CHICAGO CORN 4.1/8 for Spot. US. Dollars open- May
ed with sellers at 6.1/32 but later July eased off to 5.31/32 for Spot.
AFTERNOON MARKET
The market was quiet in the May afternoon.
The market closed with sellers
at 1/27/8 April/August and 1/2
27/32 September/December, pro- September bably January, buyers at 1/2.29/ New York Official
32 Cash and 1/2.7/8 September.
U. S. Dollars
The market closed with sellers at 21,5/8 April, 21.9/16 May and 21,1/2 June, buyers at 21.3/4 Cash.
21.11/16 first half May, 21.5/8 first half June and 21.9/16 July.
Shanghai Dollars Sellers at 360, buyer's probably
at 360.1/2...
Shanghai Market
Sterling at 4.1/8 and U.S. Dollars at 5.31/32 for Spot.
Shanghai Exchange
Shanghai. Apr. 11 (Reuter)
Official T.T. Rates
London
New York
Japan
India
Paris
Hongkong
Opening
0/4"
5-3/4
24-1/2
22-1/8
2.94 26-374 Keller
Opening Closing 0/4-1/8 0/4-1/8
0/4-1/16 -0/4-5/64
0/3-31/32 0/3-03/04
$4
Spot
Apr.
May
U.S. Dollars
Spot
Apr.
5-29/32
May
5-3/4
$6
5-29/32 5-374
Market: Quiet but steady.
"Merchant Rates
Sterling, 0/4-3/32
US Dollars, $5-15/16.
Sliver Daty Rate
The Central Bank of China's rate on London at 10 am, today was 1/2-1/2,
The Equalisation rate was 10-1/4;
per cent.
-14.42/47 34-3/4 NY-London Cross Rate 3.48-1/8".
RESERVE BANK OF INDIA STATEMENT
was
STOCK MARKET BRIGHT
Calcutta, Apr. 10 (Reuter). LONDON. April 11 (Reuter)— Mar. 27 Apr. 3 The Stock Exchange was distinct- Notes in circulation
ly brighter at the close after a (including Notes"
dull opening. The best feature neld in the Bank-
the Eastern demand for ing Department)... 25,221 25,152 Indian irons and steel of the Rupee Coin and Bul-
Bengal and Burma Corporation tan in India 5.594
5535 ses
all of which advanced. Gold Coin and Bul-
Wall Street was irregular. lion in India. 4,154 4.154 Securities (Indian
Government)' 3,835 3.835 Securities (-British
Government)
11,350 11,350
LONDON METALS
EXCHANGE
London, Apr. 10 Reuter).
TIN
SILVER MARKET
LONDON SILVER
London, Apr. 10 Reuter)...
Silver: Prices rose on scarcity
1930/40
1-ex, div. DOW JONES AVERAGE
High Low Dow Jones Averages.
155.92.19141 30 Industrials
35,00 24.14 20 Rails 87.70 20.70 20 Utilities
Apr. 9, 150.31
31.42. 36.28
Apr. 11, 1940. High Low Close Change 180.65 149.12 148.58 31.3631.05 31.20 25.25 25.01 20.09
39.22 84.51. 40 Bonds
80.35
03.07 45.59 11 Commodity Index 60.25
Business Done-1,290,000 shares
.73 off .2% off .19 off 89.15 .20 off €0.07 .18 of
CURRENT ACCOUNTS
38, Bishopagato E.C.2
Sub-Agencies In. London: 117/12, Leadenhall Street, E.C.1 West End Branch: 14/16, Cockapur Street, S.W.1. Manchester Branch: 59, Mosley Street, Manchester, s.
'AGENCIES AND BRANCHES: ALOR STAR HABBIN
PANANG AMRITSAR HONG KONG LANGOON BANGKOK BATAVIA BOMBAY
CALOUTTA
AGENCIES: KOES
CLAY STEIZT
PAIRSIK PLACE
CANTON
CAWNPOES CEBU COLUMBO
DELHI
HAIPHONG HAMBURG HANKOW
KUALA
ILOILO IPOZ
BAIGON
SEREMBAN
KARACHI KLANG
SHANGHAI
SINGAPORE
SITIAWAN
SOURAMAYA
LUMPUR
TAIPING
KUCHING
TIENTEIN
MADRAS
TONGKAN
MANILA
(Bhuket)
MEDAN
TSINGTAO
NEW YORK PRIPING #
(Peking)
TOKOHAMA
"FOREIGN EXCHANGE and General Banking Business transacted.
CURRENT Accocare opened and FIXED DEPOSITS received for Ons Fear or shorter periods in Local or Other Currencies at rates which " will be quoted on application.
SAVINGS ACCOUNTS also opened in Local Currency and Starling with opened in interest allowed at rates obtainable
LOCAL CURRENCY and Fixed DepoBITS DB application. "'~ received for one year or shorter The Bank's Head Office in London periods in Local and other Car- undertakes Executor and Trustes. rencies on terms which will be business, and claims recovery of quoted on application.
British Income Tax overpaid, on
Also up to date SA DEPOSIT terms which may be ascertained at Roxx in various sites To LET any of the Agencies and Branches. Hong Kong, 28th February; 1940,
R. A. CAMIDGE,
Manager.
HONGKONG SAVINGS
BANK
The Business of the above Baak, is conducted by the HONGKONG SHANGHAI BANKING COR- PORATION. Rules may be obtain- ed on application.
For the HoNGKONG & SHANGHAI BANKING CORPORATION.
V. M. GRAYBURN,
Chief Manager
LIMITED
Authorised Capital.....$10,000,000.00 Paid-Up Capital 5,598,600.00 Reserve and Undivided
Profits
2,883,931.01
Head Office:-HONG KONG No. 10 Des Voeux Road, Central
Board of Directors:
Sir Bhonson Chow, Chairmas
Li Koon Chan, Eg Li Lan Sang, Esq. P. K. Kwok, Esq. Wong Cha Son, Esq. Wong Yan Tong, Esq. Kin Ying Po, Rag. Chan Ching Shok, Beq. Fung Plag Wah Esq Kan Toug Po, Esq., Chief Manager. Li Tee Fong, Esq., Manager
Calopita
Branches and Agencias:-
Haiphong
Marila
Singapore Bourabaya
Salien Bwatom
Malbourne Barn Byday
Nagasakan olaco Timotein
New York" Bestüle Paria
Pelping Shorta
Every description of Banking and Exchange business transacted. Loans granted on approved securities.
Current Accounts opened in Local Currency and Fixed Deposite ceived for one year or shorter periods in Local and Foreign Cur- rencies ob terms which will be quoted on application.
SAFE DEPOSIT BOXES TO LIT.
KAN TONG PO,"
Chief Manager.
THE CHASE BANK
13, QUEEN'S ROAD, CENTRAL
HEAD OFFICE:
.....
18, PINE STREET,
NEW YORK. An American Bank offering com
plete Foreign Banking Service in the principal Markets of the world. Interest Rates on Application.
SAFE DEPOSIT BOXES
This Bank is entirely owned by
THE CHABE NATIONAL BANK New Youx, with Besources of OTHE 1.8.$2,900,000,000.
D. M. BIGGAE,
Second Pics Pre
BANK OF CHINA
+
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE
BANK
PAID-UP CAPITAL $40,000,000.0 (BRANCHES ALL OVER CHINA) Owing to our numerous Branches in China and connections in the principal Commercial Centres of the World, we are able to extend a our Clients' special facilities for Domestic and Foreign Banking and Exchange.
Head Office:SHANGHAI Hong Kong Branch:
4, QUEEN'S ROAD, C. South China Officea:
CANTON SWATOW BRUCHOW
KONGMOON TOISHAN KINGCHOW
We also handle the issue of Bonds and other Public Funds of the Chinese Government both at Home and Abroad.
SHOU J. CHEN,
• Manager.
THE KWANGTUNG PROVINCIAL
INDO-CHINA—————
of offerings. Litle speculative EAM NAVIGATION COMPANY
buying. Business small, Market
steady. In the afternoon, after Operating Services for Cargo and Passengers
small business at the rate, market
buyers
sellers 起
closed dull with sellers at the rate
TO
but buyers reserved.
8pot, 20-15/18d."
Standard, Casm 252-1/4 252-1/2 Standard,
250-1/4
3 months 250
India Rupee Paper
Bombay, Apr. 10 (Reuter). Govt. 33% Rupee) 03-08-0.
New York Exchange
New York, Apr. 10 (Reuter)." TT. on London (Opening Rate),
3.48
Calcutta Exchange
Calcutta, Apr. 10 (Reuter).
T.T. on Japan, 91-1/4.
Forward, 20-7/84.
BOMBAY SILVER
Bombay, Apr. 10 (Reuter). Market Quiet Offtake 50 bars.
Indian Mint Silver
Ready
58-01 May. 1 Settlement ..... 50-02 June 3 Bettlement
53-06
NEW YORK SILVER New York, Apr. 10 (Reuter). Silver. Omicial, 34-3/4.
LONDON GOLD
London, Apr. 10 Router). Bar Gold, Fine per ca. 168.--
SWATOW, SHANGHAI, TSINGTAU, CHEFOO
and TIENTSIN
KOBE and OBAKA.
SINGAPORE, PENANG and CALCUTTA
SANDAKAN
HAIPHONG
All steamers berth alongside the Roosevelt Terminal in the French Concession at Shanghai, where passengeri and cargo are landed.
For further particulars
please apply to
JARDINE MATHESON&Co.,LTD. TELFENONEOZDZIE GENERAL MANAGERS.
[Incorporated in China)·
Goteral Banking Facilities and Financial Agents to The Provincial Government of Kwangtang Head Office--82inkwan, Kwangtong Province Hongkong Reseh-Queen' Bldg., Chard. Cable Addresses-"FAGYLAQIAL" 2639, 9443. Telephones:
20112, 20113, 20143, 20181, 31651. BRANCHES THROUGHOUT
SOUTH "CHINA ZA Correspondents to New York and London Paid Up Capital....... N$10,000,000.
Reserve Capital
N$10,500,000.
AUYANG MANLY,
Hongkong Kanager,
A Job?
WANT
ADSA