1937-10-26 — Page 17

THE CHINA MAIL, OCTOBER 26,

WALL STREET PRICES SKY-ROCKET: DRAMATIC AFTER-WEAKNESS RALLY

New York, To-day.

་

BANKS

THE CHARTERED BANK

INDIA AUSTRAL

CHINA

HEAD OFFICE

LONDON

C2

38, Bishops

Paid-up Capital Reserve Fund

tors

BANKS

HONG KONG AND SHANGHAI RANKING CORPORATION

£3,000,000 Reserve Liability of

,000,000 tors

£3,000,000

Manchester Branch, 71, Mosley Street, Manchest Agencies and Branches:

Prices of leading stocks on Wall Street sky Reserve Liability of Proprie rocketed as much as from five to ten dollars in frenzied midday trading in which buyers were faced with a shortage of offerings and literally stampeded in the effort to acquire stocks.

Bangkok Batavia

Calcutta Canton. Campars Cebo

The advance was all the more dramatic in view by of the weakness of the market at the opening, but as soon as short interests attempted to cover, they bo found the greatest difficulty in buying.

The rally started after an order for 5,000 Chrysler shares had beer received, and it was found that no. sale could be arranged

It was nearly an hour before the transaction could be completed, and then at a price $334 above the pre vious sale.

The turnover in the day's trading was 2,340,000 shares-Reuter.

MARKET REPORT"

TIN QUOTA

REDUCTION

PROBABLE

London, To-day.

Haiphong Hamburg zamkow

For Bost

Saigoo

York

Tongk

(Banket)

Poking) Farang:

Tringto

Tokobama

Zarabomaga.

- Foreign Exchange, and General Banking businem transacted.

Current Loccumbe opened and Fixed Deposita recaired for one year or shorter periods at rates which will quoted on application

The Bank's Fload Offon- Za Landon undertakes. Executer and Truston. business, and tỷ clažna, recovery of British Income Tax overpaid, terms which may be ascertained at any of its Agencies and Branches.

R. W. ROBERTS,

Manager.

Hong Kong, 1st January, 1935.

S. E. Levy and Company received the following report this morning- Following yesterday's meeting THE BANK OF EAST ASIA, LTD.

-The volume and the extent of to- of the International Tin Commit- day's gain can reasonably be exfee it was announced that the Authorised Capital $10,000,000.00 plained by anyone of the following Committee considered the ques-Paid-up Capital

tion of fixation of the quota for Reserve and

Profits

reasons.

(1) technical grounds;

commitments;

the first quarter of 1938.

quota

(2) rumours of fears of higher

On review of all the information margins for short sales, which in-at present available, they reached duced short interests to cover their the conclusion that the

should be 85 per cent, but a defin- (3) expectation of some specialite decision would not be taken development at this week's United until the meeting on December 10. States Steel Corporation and Chry-

Reuter is reliably informed that

the

sler Motor Company meetings. the Committee, in stating that the In the absence of any likelihood first quarter quota should be 85 of a sudden improvement in

per cent, based on present inform- rear-term business outlook, the sole ation, implies that they are pre- apparent explanation for to-day'spared to reduce the output at the strength would seem to be antici-annual rate of 25,000 to 30,000 pation of political news having fav tons-Renter.

on Industry:

ourable implications Such hope is without sufficient foundation just yet to warrant any change in the policy of limiting fresh purchases to weakness and selling part of the recently acquir- ed holdings on strength.

LOCAL SHARE MARKET

Following is the list of changes and enquiries in local share quo- tations this morning:-

BANKS

Hong Kong Bank $1570 b.

INSURANCES

Union Ins. $506 b.

SHIPPING

H. K. Steamboats $9 s.

Indo-Chinas (Pre£) $51 b.

Indo-Chinas (Def.) $43 h.

DOCKS, WHARVES, GODOWNS,

METCA

H K and K. Whaves $112 b. H. E and W. Docks $2780 h, $28 sa Providents (Old) $2:20, by $2.20 sa. Providents (New) $322 b..

LANDS, HOTELS & BLDGS.

H. K. and S. Hotels $5.30 b., $5.30/-

35 32

HK. Lands $31 b.

PUBLIC UTILITIES

HK Tramways $131⁄21⁄2 b..

Star Ferries $81 b.

Yannati Ferries $242 b., $242 sa.

China Lights (Old) $112 h; $1160/-

85. sz.

China Lights (New) $11 b.

HK Electrics $54% b."

Telephones (Old) $25% b, $253⁄41⁄4 Telephones (New) $9 b..

INDUSTRIALS

Cements $12:55 b

STORES, &C. Dairy Farms 24.60 b.. Watsons $4% b

Wm. Powell, Ltd 40 cts.

CEPEMISCELLANEOUS EL K Govt. 4% Loan 6%

LOCAL DOLLAR

The demand rate of the Hong Kong dollar this morning was 1/27/8.

"Spot" silver was quoted at 19. 15/16 and "forward" at 1978.

The London on New York cross- rate was quoted at £ US $4.9507 and the New York on London rate: at US$495-1/8.

NACET BLADES

NACET Blades bring you that uniform quality never before possible in low- priced

on every

HADE IN ENGLAND

ZORS.

Undivided

$ 5,598,600.00

*2,776,726.75

HEAD OFFICE: HONG KONG.

18, Des Tear Boad, Central

BOARD OF DIRECTORS ---- Bou Siz Shou-son Chow, Chairman; Li Koon. Chan, E. Kwok Pag. Wong 120 Tong, Esq. Chan Ching Shak. Esq., L Las Sang, Eag, Wong Che Son, Esq., Em Ying Po, Esq, and Fung Fing Wah, Esq.

Ámcy

Faz Tung Pa, Esq., Chief Manager. LE Tan Fong, Esq.,“ Manager BRANCHES AND AGESSČIES

Malborzzzsa

Batavia Bambay Calcutta Canton

Haiphong Hankow

Kobe -Kowloon

San Francisco

Mentaka *Tokyo

-Yokohama

Every description of Banking and Exchange "business" trapsscted. Loans granted on approved

•securities.

Cuzyană Ansounds opened in Local Currency. and Fixed Deposits Iscaived for coeyer, ke shorter periods (in Local and: Foreign Currencies on tente which will be quoted an applica

Safe Deposit Boxes To Let

KAN TUNG-PO,

Chist Manager.

THE WING ON BANK, LTD.

Head Office Hong Kong. 26, Des Voenix Road, Central Authorised Capital $10,000,000

LONDON BANKERS:- Westminster Bank, Ltd.

000.000 20,000,000

5,500,000

$10,000,000

$20,000,000

FEAD OFFICE: HONG KONG.

BOARD OF DIRECTORS.

G. Miskin, Esq.,

Clairman.

Hon Mr. M. T. Johnson,

Deputy CharmBIZ

JAK, Bonfield, Esq. AE. Compton, Eaq, S. E.Dodwell, Eag J.B. Masson, Esger

#7. S. Morrison, Esc

How: Mr. J. 3. Eaterson TE. Pearce, Esq. A.... L.. Shields, Esq.,

Sir Vandeleur M. Graybum,

Chief MaszPRETİ

BRANCHES.-

AMOY

KOK

·FOOCHOW

FATPHONG

HAMBURG HAŃKOW

HARBIN

HONGNEW ILOILO

JOHORE

KORE

KOWLOON

KUALA LUMPUR

LONDON. LYONS MALACCA. MANITA

LEW YORK. PEIFING PENANG BANGOON SAIGON SAX FRANCUS SHANGHAT

SINGAPORE SOURABAYA,

SUNGET PATANI

TENNISEN

TOKYO ISINGTAO YOKOHAMA

Current Accounts opanad in Local Currency and Fixed Deposita requited.. for one year or shorter- sperioda in Local Gemency and Sterling on tesma:

which will be quoted on: application.

ALSO up to date SAFE DEPOSIT BOXES various sizer:TO LET,

Hong Kong, 1st March, 1997.

HONG KONG SAVINGS BANK

The Business of the shore Bank is conductać. by the HONG KONG AND SHANGHAI BANK ING CORFORATION. – Rules may be vbíained --on' spplicatic.

FOR THE HONG KONG AND SHANGHAI BANKING CORPORATION.

V. K. GRAYBURN,

Chist

Hong Kong, 1st March,

THE YOKOHAMA SPECIE BANK

LIMITED

Established 1880

Capital (fully paid-up) Yen 100,000,000 Reserve Fund.

Yen 134,400,000

Head Office: YOKOHAMA

Branches and Agencies st

Alexandri Bangkok Batavia

Berlin

Bombay

Calcutta

Canton

Dairen (Dainy)

Moji Nagasaki

Nagoya

New York

Osaka

Otam

Paris

Peiping

Rio de Janeiro

San Francisco

Fengtien (Mukden) Rangoon

Hamburg

Hankow

Harbin

Foreign Exchange and every-des-¡ Hong Kong cription of banking business transacted. Honolulu Current Accounts and Savings AcHsinking counts opened Fixed Deposits re- Karachi ceived at rates which will be quoted on Kobe

London application.

Trusteeship & Executorship under Manila

Los Angeles taken. Safe Deposit Boxes for hire.

PHILIP GOCKCHIN,

Chief Manager

DONT LET

WHITE-ANTS DESTROY YOUR HOMES

CALL THE

EXPERT

EXTERMINATORS

THOMAS COWAN & CO.

White-Ant Experts Queen's Bldg, Hong Kong Telephone-30722-

Seattle

Semarang

Shanghai

Singapore Sourabaya Sydney Tientsin

Tokyo

Tsingtan

Yingkow

Interest: allowed for Current Ac- counts.

Deposits received for fixed periods. at rates to be obtained on applications

Y KANO,

Hong Kong, 11th Se

THE

SHANGHAI COMMERCIAL & SAVINGS BANK LIMITED (Incorporated in China)

Capital paid up

Reserves

5,000,000

000.000%

Capital Savings Dept. Reserve Savings Dep Head Office-Sh -A Bank having ag-- the industrial develo China and the fostering: ial relations abro Hong Kong Office- Queen's Road Ci Phone #1118.-