1924-12-05 — Page 3

Page

THE UNITED ASBESTOS ¿RIENTAL AGENCY, LTD.

Tol Contral 236.

SOLE AGENTS FOR

"PUDLO

Makes Cement Waterproof

"FEUSOL"

The Immovable Fire Cement

THE HONGKONG. DAILY PRESS, FRIDAY, DECEMBER STR, 1924.

2, Queen's Building,

QUEEN'S THEATRE.

FRIDAY to TUESDAY, Dec. 5th to 9th,

at 2.15, 5.15, 7.15 & 9.15 p.m.

UNIVERSAL-JEWEL

'THE

PRESENTS

BABY PEGGY

LAW

IN

FORBIDS."

Here is a picture that is a compelling combination of power and charm. A story that has been taken from the heart of an American family of to-day. A vital theme in which men, women and children will find thrill and emotional enthusiasm-hearts crushed by. the law-the refreshing faith of an innocent child-the lure of Broadway's lights and loves.

PRICES OF ADMISSION

At 5.15 p.m.-$1.20, $1.00 & 60.Cts.

At 9.15 p.m.-$1.50, $1.00 & 60 Cts.

Soldiers and Sailors-Half Price to Stalls.

FOUNDATIONS

FRANKI PILING

SYSTEM

1 ETTERS PATENT IN HONGKONG No. 13 or 1924.

We are the sole licencees for China (including all Treaty Ports and Foreign Concessions, but excluding French Indo- China) and for the British Colony of Hongkong and the Portugese Colony of Macao.

Sites Examined and Reported upon Free of Charge. Apply to-

HONGKONG ENGINEERING & CONSTRUCTION CO., LTD.

EBAD OFFICE:l'ewell's Baikingy Des Vaux Road Central Telephone Central 4581 (two lines).

[1551

FOR CHRISTMAS GIFTS.

SMOKER'S NOVELTIES

OF ALL KINDS.

We offer the BEST SELECTION TO BE SEEN in HONGKONG of Novelties Just Received from LONDON.

ABAQUERIA FILIPINA

LEADING TOBACCONISTS OPPOSITE QUEEN'S THEATRE

THEATRE

ROYAL

SIX NIGHTS

COMMENCING AT NINE O'CLOCK

DECEMBER 12th, 13th, 15th, 17th, 19th and 20th

THE YEOMEN OF THE GUARD

BOOKING NOW OPEN AT ANDERSON'S PRICES-$3.00, $2.00 and $1.00.

RUBBER AND THE SHARE MARKET:

RESTRICTION AND ITS RESULTS.

י.

The rubber comedy is entering upon a more interesting phise. As all the world knows, two years ago British prodücing interests adopted the commonsense policy of adjusting their output to the require- ments of the market. They decided to regulate production according to price. If the latter felt they produced less. If it rose they increased their output. This became known as the Stevenson restric tion scheme. A campaign to wreck the scheme, initiated in America, immédiate. ly opened, to which certain journals in this conatry promptly lent themselves. I was suggested that an attempt was bring made to corner the market, that the demand was such that restriction was indefensible, and that an acute shortage of rubbe: was a certainty of the near future. The campaign merely sent up the price of rubber from 8d. to la. St., and naturally increased rather than diminish- eu confidence in the efficacy of the scheme. The tactics scare then completely chang ed. Paragraphs began to appear_sug gesting that the production of the Dutch Colonies-cutside the restriction schem-- threatened to swamp the market and so negative the effect of restriction by the British. It was also suggested that the Dutch were rapidly planting up large areas out of the large proats which, in- cidentally, they could not possibly be making at the price, and that a continu- ance of restriction meant the certain loss of our dominant position in the industry. The result was that the price of rubber gradually dropped to 10d. per pound, restriction automatically became more drastic than ever.

And

MARKET AGAIN STRONG.

Obicinable at LANE CRAWFORD LTD

Tabaqueria Filipina, Græco Egyptian Tobacco Storey and all high-class Tolanomits,

At 95 cents per, tin of 50

SHANGHAI TRADE.

PIECE GOODS.

Messrs. Libert & Co.'s Piece Goods Market Report of November 29th, sayar

A very distinct improvement in the state of trade has taken place this week" due to a realization that the threatened, Throughout this period, it should be declaration of independence by a group coted, the world's surplus: stocks were of the Yangtze Tuehuns is now not likely being steadily reduced; also, consumers, to materialize, and that a fresh war is after their first attack of nerves, resolved therefore improbable, at least for the to live as far as pessible on their own time being. Marshal Tuan's assumption stocks and buy only from band to mouth. of office as temporary Dictator of the Re- It came about, therefore, that both market public has also gore a long way towards supplies and traders' stocks were declin-restoring confidence. As the merchant! ing simultaneously. Reduction went on classes generally appear to place faith in because the market was starved of buying him, and the result has been that more orders and the price remained low. The trade has been done this week than at London stocks alone have fallen to the auy time. since the fighting started. lowest level for four years, American coa-Apart from Cotton Yare, White Shirt. sumers have little on hand, the trade de-ings have been the principal goods dealt mand is looking up, and restriction is in. whilst Fancies have also enjoyed a more severe than ever. There is much little demand, mostly for Yellow-border- vague talk about interfering with the fed Venetians and iniitation Pongees. so-called "law" of supply and demand. Clearances have been But it is the attempted interference with heavier, and might have been even better appreciably the restriction scheme which is respon. but for the continued reluctance of the sible for the present position. Left to part of the native Banks to loosen their itself, the plan would have effected stable price in the region of 1s. 3d. to terms of credit to their clients. At pre- parse strings and grant more elastic 1s. 6d. until surplus supplies were absent only dealers of the highest stand. sorbed.

But we have seen the price ing can secure financial facilities to say artificially depressed to 10d., followed by extent and the smaller man still finds it as sharp reaction which may result in difficult to carry on bis business. consumers having to pay up to 2. per pound before relief is forthcoming in the shape of increased supplies. Rubber has latterly recovered to over 18 5d. per pound. The market is strong. America

THE COTTON MARKET.

Alessrs. A. B. Rosenfeld & Son's, Inc.

has been an active buyer for prompt de Weekly Cotton Market Report, says: livery, while the Continent, and parti- China Cotton.-The market has had cularly Germany, is operating with more rather a more active appearance during freedom. Supplies in this country have the past week and a further material declined since the beginning of August advance has been established, with a more from $1,800 to 30,800 tons, and are now general interest on the part of the out- approaching an unduly low level.

LONG SHOT INVESTMENTS.”

hide public which, freely erlisted on the Bull side, while among the more pro fessional element the improvement in The foregoing will perhaps provide an values has induced the liquidation of a adequate explanation of the striking re- good deal of long cotton. The demand cradescence of interest in the share for spot cotton, has been very good iD-| market during the past week. The sharp deed, the largest part of the demand com. rise ip prices is a natural reaction after ing from Japanese exporters and local a long period of stagnation and depresmills. sion. In view of the greatly improved

From the above it will be seen that position in the commodity it is a reason as far as the general outlook is concern- able inference that the improvement willed, although we still consider a higher at least be maintained, even if it does level of prices warranted by the legiti not at present go much further. The latter contingency rests with the price bears are making their appearance and mate surroundings, but at a time when of the commodity. It is, however, wist hammerin- prices down in sympathy with not to let optimism run riot now that at the unsett..d political situation in China: long last the rubber-producing industry and tightness of the money market, we appears to be taking a definite "turn for consider it prudent to advise more con the better. Producers are on very short tion or the bull side than beretofore. commons at present from the output { standpoint. Costs will generally be steady during the past week, and prices Yarn. The market has been keeping: higher this year, and such dividends as advanced some one to two taels from last will be forthcoming for 1924 will in most week's level. cases be distinctly meagre. At this stage of various counts and chops of local Some 10,000 to 11,000 bales rubber shares make their chief appeal products have been bought up by Sze only as long shot investments. But to thwan, Canton, Kiangs, Swatow, Wubu many a reasonably good prospect of capital appreciation, untaxed, with divid. Chefoo, Ningpo, Newchwarg and other ends later, is preferable even to a sub-business with the mills have been record. dealers, and "about 10,000 bras direct stantial dividend in sight. having in view the heavy hand of the tax-gatherer.

ed. Financial Times.

HONGKONG SHARE MARKET.

CLOSING QUOTATIONS.

Dick 4ru, 1924, Hongkong and Shanghai

Banta .........................$1,170 b. Canton Insurance $730 b. Union Insurances1270 nom. Hongkong Fire Insuranses..... $685 b.. Douglas Beamship.......................... $59 s. HLE, 0. & M. Steamboats...$36) b. #36) sa

Star Ferrica

Okin's Bagh བས་བ་་ཐག་བ་

**$95 nom. Langkats

(Combined)

Kowloon Whartes

Whampoa Docks Shangani Docks

Hongkow Wharve.....

New Engineerings, Hongkong Ind Hongkong Hotel

Humphreys Estates ....

Cotton Milla Shanghai Cottura

Orientais. Cementa

N

1. 19 b.

$206 b. $150 som. Tia. 103 b.

TIL, 195 b.

7 b.

Th

b.. $18 #

(old) $17) b., 3173 z

{{new).

Th. 11,00 b. Tis, 59 b. ...Tia. 3.60 b.

$231b.n Hongkong Ropes (combined) $60 nom China Provsients (combined) $23 nom Dairy Farma

$24. 18 b

Waterboa

Watsons..

Hongkong Electrica

(all) $2% (now) $12 nom.

Chins Lights ....... (combined) $2. Hongkong Trans

501&

Peak Tramways... (cild) $28, (new) #{1} b.

Shell Transports848 b.

·b-buyero; ——sellers; sa-sales.

EXCHANGE IN NOVEMBER.

Messra. Roza Bros. add to their list of quotations during the month of Novem- ber, the following summary:

Average Hats Nov.

(Ready)

(1924),(Approx.) — 9/46.14349 54H 10.39 Highest Rato Nov.

(1924),(Approx.) 343 2/4]-142) 551, 19,50 Lowest Rate Nov.

(1924)(Approx.)332/18:139) 54‡ 10:30 Average Kite to date"

(1924),(Approx.) 2/42 12513 52,2 10,00 Highest late to date

(1024),(Approx)- 90) 1433 554 1400 Lowest Rate to date

(1924),(Approx.) — 2/34 1071 40j 7:80|

BRITISH PASSPORTS,

A wireless message from Leafield, dated, November 17th,' says:-In December next new regulations will "come into effect under which British passports may be granted valid for a period of five years from date of issue. All British pass ports presented for, renewal shortly ex the validity

of which has already or pine, may be renewed from the date of expiration for any period from one to five years at the option of the holder pre- vided that in no case shall the validity of passports be extended beyond ten years from the original date of issue.

Fit Company

There's some things, sir, which just naturally go together.

A page boy isn't happy without chewing-gum and "Deadwood Dicks."

Gentlemen of experience and good taste, sir, fully appreciate a glass of old Port and a Kensitas, they know that a Kensitas cigarette is "as good as a really good cigarette can be.'

Jenkyn

Manufacturers: J. WIX & SONS » Ltd: 1793 € PICCADILLY: LONDON.W.ENG. Wholesale poly? DONNELLY & WHYTE, Distributors for Hongkong and South China, 1 QUBEN'S BUILDINGS Telophone: Central £36,

Kensitas

the preferred cigarette

DO NOT MISS

YOUR LAST CHANCE

OF SEEING

The Thief

of Bagdad

TO-DAY, at 2.15, 5.15 & 9.15

TO-MORROW AT

2.15, 5.15, 7.15 & 9.15

RUDOLPH

VALENTINO

IN

BLOOD AND SAND

THE

CORONET

Shrieks from the Women; Laughter from the Men

greet

THE SHADOW GRAPH

the wierdest show ever seen in the Colony

Other items in an excellent Programme include:

The Yeomen of th Guard

by

THE STAR ORCHESTRA The Cradle of Courage

WIL

with

WILLIAM S. HART

Behind the Screen

with

CHARLIE CHAPLIN

TO-DAY and TO-MORROW at

THE STAR

CAMMELL LAIRD & Co., LTD.

Shefeld, Birkenhead, Leeds, eto.

HIGH SPEED STEELS. BEST CAST TOOL STEEL MINING STEELS SHEAR STEELS FILES AND RASPS

STOCK! 'KEPT AT PEKING ROAD, SHAIGHAL.