1924-08-23 — Page 3

Page

DECOLITE

FIRE-RESISTING FLOORING

(Awarded Gold Medal Franco-British Exhibition.)

JOINTLESS. HYGIENIC & NON-SLIPPING

Laid by Our Own Workmen on STEEL, WOOD OR CONCRETE.

THE UNITED ASBESTOS ORIENTAL AGENCY, LTD.

Tel. Central 338.

7607

THE

3, Quoon's Buildinga.

QUEEN'S THEATRE

(Pleasure House-de-luxe).

TO-DAY.

at 2.30, 5.00, 7.00 & 9.15.

THE STAR MOTION PICTURE

PRESENTS

Their Marvelous Chinese. „Super-production

"THE GRANDSON

10 Reels

"

(The best Chinese Picture ever shown in the Colony)

1:

Has met with Great Success in Peking. Tientsin, Singapore and Manila.

SUNDAY MATINEE. at 6.00 p.m.

BETTY COMPSON

in her first starring picture

"PRISONER OF LOVE."

"

PHONE C. 4637

BOOKING "AT THEATRE.

The BEST of its kind

CAMERAS, LENSES & BINOCULARS

GOERZ

WHOLESALE & RETAIL.

SHOW ROOM:

30-32, DES VEUX ROAD" C.

SOLE AGENTS:

HALL, LAW & CO.

Paosz C. 3217.

We specialize in Pipes, leading patterns, novel assorted

shapes and best finish.

Inspection invited.

ABAQUERIA FILIPINA

LEADING TOBACCONISTS, OPPOSITE "QUEEN'S THEATRE

HONGKONG RACING RECORD

(FORM AT A GLANCE). JUST PUBLISHED.

Obtainable-Price Five Dollars-from

Messrs. U. RUMJAHN, 4, Queen's Road Central.

HONGKONG SMALL INVESTORS SHARE & REAL ESTATE CO.

Hotels old

Steambosta

Chian Lights

Cements now.

WE

ASIATIC BUILDING (2nd Exoba). -

BUY

914 Dairy Farms

44 UnderwriLOIS

9.80 Union Laser.

472

1,75

Wharves

1800

0.00 H'kong, Banks 1,195

Spars. Trams K. Rate Peak TramAS

TEL. C. 463U.

WE SELL

17.00 Cements new

1.60. Providents old 213 Providente now 262..

6:10 16

5.10

20

Waterboats Territorials

Watsons Tug 19

Huraplarey 231 AND VARIOUS OTHER LOTS Prospective buyers are cominded that sales or purchases of lot mentioned depend ́apon azr clients and market fluctuations,

A'kong. Eleo.

102.

♪

HONGKONG DAILY PRESS, SATURDAY, AUGUST RD, 1924

ป

HONGKONG WEEKLY SHARE

REPORT.

Messrs. Benjamin and Potts, in their weekly sbars, repert dated Friday.

August 22nd, say :--

The market has again led strong and considerable speculation has occur- red in certain stocks, causing further mivances.

ד.

Banks-Hongkong & Shanghai Banks have ruled steady during the week with sales reported at $1,195 to $1,200 and further buyers at the faster. The latest cabled quotation from Lendom is $126.34. (middle)

Marine and Five Lasuranges. "Hong kong Fires at 2500 mark a further rise. Uaigns have firmed up to $228, while China Fires are also higher at $175. Cantons continue in demand at $700. Underwriters at $1.79 and Yangtas at

Steamships are

decide-Douglas

stronger and the prier has ad- vanced to 881. Hongkong. Cantor and Macao Steamboats have been in strong dean, and a hapid rise has occurred. Sales have been made up to $46. Star Ferries at 8 and Deferred Indios at $110 unchangril

China Sugars were dealt in at the improved price of 233 and close strong. at the rate. Malabours at as are lift.

3.

Dits and Wining.--Langkats (combia

ed) are wanted in the North at T. 18)

Spell Transports are inquired for

at Benguets at P., Kailans at 70 aus Tronohs at 13" Rambs are offering at 35.

Electric Companies.-Chini Lights have advanech to '8i6.13 for the Old and $10 for the New HHongkong Electrics hare been placed at $109. Hongkong Trams Ar stronger and have huwers at 841f ex the interim dividend of 75 cents just paid.

Docks. Wharves and Godowns. -Hong- kong and Whampoa Docks have met with a fair measure of support and the price has improved to St Hongkong and Kowloon Wharves had a considerable set Jack, touching as low as 8210, but have since recovered and are now juoted at S13 Shanghai Docks have been bought -T. Hongkow Whärves are want ed at Tis. 197! "and, New Engineers at Tls. 6

Lands Hotels and Ruildings.--Hong kong and Shanghai Hotels have been an excited market and the price has spart- el to $2 for the Old and $211 for the New the Interio dividends just paid. A considerable business has been done in this stock both for cash and forward, the highest rate touched for December. being $25, at which i block of $100,000 shares changed hands. Hongkong Lands shewed renewed strength and were done! up to SUT. Humphreys Estates have been pined at

Realtys at 9.15 and Territorials a $1.70 are steady at quotations.

Cotton Mills.-Evos have been put through at Th 10 and continue in re quest. Orientals have been booked at Tis. 3. Shanghai Cottons have lapsedİ to a nominal quotation of Ts. 57.

Miscellaneous.-Dairy Farms have ruled Arm and have been negotiated up to

!. Lane Crawfords have

again Deals changed hands at $17.00 and $18. have been male in Chinn Providents at *15 for the Old and $5/3! for the New. Green Island Cementa (combined) have hardened and could be placed at $24. There are buyers of Peak Trans at $104, Sinceres at 213 and Watscus at 90

Exchange. The T.T. selling rate on London to-day is 2/4 and on Shanghai

Forward Settlement Days-Auglist. 28th (Tuesday), September 25th (Thury- day), and October 5th (Tuesday).

SINGAPORE "TRAMWAY

SHARES.

The following letter appears in the Financial Times of July ih:-

Sir. There is either a singular misu- derstanding regarding the position of the Singapore Electric Tramways Campang or a very striking anomaly in the reaper- tive quotations of the five per cent. De- huture stock and the shares, and, as a member of the Debenture Holders Com- mittee, which committee had a great deat to do in connection with the scheme. I think

it is quite time it was pointed out. The scheme of arrangement under

of the which the management

property of the company,

under the effrient control of the Shanghai filectric Construc tion Company, Ltd.. was approved some and time ago by all the necessary parties, a has been approved by the Court, It is therefore effective.

It is unnecessary for the purpose of this letter to set out the details of the scheme, and it will suffice to give the respective positions of the present 'five per cent. Debentures and of the Ordin- ary shares.

The Debentures are to receive in the now company for each 2100 Debentare:

70 per cent. in new seven per cent cumulative Preference shares of El each and

40 per cent. in new £1 Ordinary shares." The present, as. Orduary shares aro to receive che new Urinary share of £1 for every, cight existing Ordinary shares. That statement should clear away any possibility of misunderstanding the position.

share. NOW,

Here is the anomaly: The present Be Ordinary stares are being actively dealt in at between 6 and 75 per share. That means (taking the price at-6.) that the market value of the new £1 Ordin- ary shares is £2 88. per share-that is, eight times the new. Ordinary share the quotation of the existing is worth this handsome premium obvious- ly the nuw seven per cent. Cumulative Preference share must be worth at least par. So we get to this:

Each £100 Debenture" receive (a) 70 new seven per cent. Pre-

ence at par (b) 40 new Ordinary at £2 88. Therefore equivalent price of ex- isting Debentures on basis of present price of Ordinary shares is at least

ference

गे

£70

£90

£188.

(Continued at foot of next column.).

MCPYDS REWARE of Cing Equi

the his of thousa

spit

Penty of sheaca dust andcard.

$55

TES

pes!

I TOBACCO CO., Ltd. London, Engl

LONDON

· THE ANALYST REPORTS: that sand and dust are ever present in machine manufactured cigarettes a warning for all smokers to study their health and enjoy

STATE EXPRESS

VIRGINIA CIGARETTES

555

MADE BY HAND-ONE AT A TIME free from SAND AND DUST

MADE IN LONDON BY ARDATH TOBACCO CO. LTD.

The Day of the Knight is Here !

IT IS THE

WILLYS KNIGHT

Simplest and most trouble-free type of motor ever invented.

It has the most disinctive and gracefully balanced body of any car

in the market.

L-The Willys-Knight car is the four cylinder motored car that makes the six

unnecessary.

The Knight motor is steam principle. The valves are two cylindrical sleeves with rectangular slots. or purta which when they register with each other add the ports in the block allow the ingross and egrem of the gases without abstraction. These wide open passages, particularly on the exhaust vide, permit a more thorough cleaning of the barnt gas from the combustion chamber that any other type of motor, so that every ounce of energy available in

tilized from the explosive mixture, which gives us much tremendous power

2-It has no valve to grind and no carbon to clean.

The combustion chamber is completely surmanded by water and an alloy piston noted for its great hea radiating qualities is as so neither the combustion chamber nor the head of the piston gets hot enough to bake the residue from the exposed gases to form carbon while there is still enough heat maintained to handle the explosive mixture effectively,

-It is the only type of motor that improves with use.

اور

While carbon can not form in the combustion chamber, still a certain amosas of the residue from the burnt grees works up behind the wide sealing ring in the cylinder head and, ne this building in procces obtaina, it koope pushing this sealing ring more tightly against the inner aleve zatil it completely seals the compression chamber daraloping more power with every mile the motor is drawn.

影

4-It is the only type of motor that wears in while other wears out

All parts in the Willys-Knight car aro asembled with wide clearance between each other and oil is forced into these clearances under heavy pressure so that the entire assembly is lapping or wearing in on these heary filma of oil instead of wearing out. In other words, every beating in this motor is an oil bearing instead of a meta to metal bearing which is necessary in the construction of a poppet valve motor in order to keep it quiet with subsequat quick jwear and nouBO. -

N

It has eliminated one handral and sixty two quick wearing parta necesary in the operation of a cylindered poppet valve motor. There are no hammering parts such as coms striking aglinst push rods, push mode against TAVO atoms, or valve beside mapping back into their seats through the medium of heary springs, ste.

THE

MERCURY MOTOR CAR CO.

Sole Distributors.

59-61, Des Voeux Road Central.

Telephone No. 977

Head Office: 1st floor, Telephone 1340.

I have only to add that they are public should realise the position. -I am,

etc., quoted below 50 per cent.

As I have said, it is either a misun

JAMES DAVENPORT-

derstanding or an-anomaly; but, in any 10. Gracechurch Street, EU3. case, it seems desirable the inventing

July 5th.

The only money that can be justifiably advantured in risky business is super- Enous or surplus income; it is just that income which is being taken away at present-Lord Hunsdon.