1928-10-29 — Page 2

Page

JOHN HAIG & Co.Lt

MAKINOS :

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426

from the oldest distillers in the world

Haig

THE FATHER OF ALL SCOTCH WHISKIES

SOLE AGENTS:

GANDE, PRICE & CO., LTD.,

ML

HONG KONG.

The MAN

who knows the climate.

the need for

knows

PURE

Calvert's

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Medical Soap

that powerful antiseptic soap always

reliable in strength and quality.

Sold by local dealers and bazaars.

See that our name and trade mark

are on the box you buy, as inferior

'imitations are sometimes offered.

JOLIC ACID ORTACI MANCHESTER

ENGLAND.

[183

F. C. Calvert & Co., Manchester, England.

PAN YAN

PICKLE & SAUCE

YOURE IN A FINE PICKLE!

PANYAN

MAKING GIVE SHOT IN LONDONG

Have a glass of

ASAHI BEER

it cheers & invigorates

are much more than ordinary relishes--They are stimulating digestive tonics! People who cannot take ordinary pickles and sauces can enjoy "Pan Yan," and " eat as much as they like.

All good Stores sell "Pan Yan."

MACONOCHIE BROS., LTD.

LONDON,

Sole Agents ---

ENGLAND.

MITSUI BUSSAN KAISHA LTD.

BÓNG KONG.

"THE HONG KONG DAILY PRESS, MONDAY, OCTOBER 29th, 1928.

Money and Markets

WEEK-END REVIEW. | RUSSIAN

SOUTH AND CENTRAL

CHINA.

"J

Building Materials.

TRADE WITH CHINA.

PROPAGANDA AND "FACE

PIDGIN."

A Soviet organ bemoans the fact that "as a result of our failure in China, we have lost nearly the whole of our export trade with the Chinese. The fact of the matter tu China when Moscow's influence is that most of the goods shipped was at its height, originally came from Germany, Great Britain, the United States and Japan, the Soviet Hassians having at no time been able to turn out sufficient goods to satisfy their own consumption, let alone their ability to fiil foreign re- quirements.

MACAO FIREWORKS. ·

BRITISH TRADE PROSPECTS;

As a result of the brisk demand from abroad this year, the export trado of fire-crackers and fireworks in Macao bas displayed great ac tivity in recent months and at the time of writing there is no indien tion that the movement of cargoes for transhipment at Hong Kong will soon come to an end. The factories at Macae have been hardly able to cope with this brisk demand from abroad and many orders have had at Canton and Kongmoon. Many to be entrusted to manufacturers

important position in crackers and fireworks trade, but in years ago, Macao occupied a very

the fire

have had the mortification of seeing recent times the factcries at Macao

a good deal of the business go past to Canton and neighbouring dis- has been a remarkable revival of tricts. This year, however, there

makers in the Portuguese Colony demand from abroad and "the

are delighted. No wonder that ther celebrated the "double tenth this month on stich a grand scale!

Trade in South and Central China is of a sporadic nature at the moment, albeit showing signs of Activity Prevailing opinion is that the next few months will witness a substantial expansion in areas serred by Hong Kong, Canton, Shanghai and Hankow. On the Upper Yangtze steamers are still experiencing dilhculties with the military and bandits but all along the China coast, shipowners are doing excellent business, their ships being well flled on every voyage Japanese coasting vessels are, how- ever, affected by the boycott but British ships are popular with In Manchuria and North China, Southern Chinese shippers, Do most of the textiles dumped The demand has chiefly come from doubt na result of the excellent by. Soviet trading institutions French Indo-China, the Straits relations now prevailing between originally entered Russia from Settlements, Dutch East Indies, Hong Kong and Canton.

Germany, and Great Britain Japan and the United States. The minus the original labels. The demand from Japan is no doubt due Russians merely pasted their to the Coronation of the Emperor. Business in dyes is pretty dull own chops" and sold the goods It is computed that the total value just now although American, dye at a loss to the Chinese. for proof fire-crackers and fireworks abip- stuffs have come in in fairly large paganda purposes. Chinese traders ped from Macas this year will by quantities during the past six in the North did not take long to the end of December have reached months in competition with German discover this fact and gladly gave and Japanese productions. The aeone order after another for textiles When it is taken into account that aome quarter of a million dollars. tivity in construction work from to these Russian trading instity for several years now, the factories Harbin to Tientsin and Shanghai to tions in order to reap the benefit there have been carrying on their Hong Kong and Canton has caused of the lower prices quoted by them. some firmness in building materials. Instructions were eventually issued rarely exporting more than thirty business in a hand-to-mouth manner, There is some briskness in importa by the Moscow Government to the or fifty thousand dollars worth tion of cement from lado-China trading institutions to go slow which is generally used founda for otherwise

year, the growth of the export trade this year becomes at once apparent. tion work. Stocks of Oregon pine

Firecrackers and "fireworks are are estimated to be as follows:-

exported from China to the follow ing countries:-French Indo-China, India, Turkey, Persia, Egypt, Den Siam, Straits, Dutch Indies, British mark. Germany, Russian Pacific Doris, Korea, Japan (including Formosa). Philippines, Canada. the United States (including Hawaii), Mexico, and Central and South America and Australia and New Zealand.

Hong Kong and Canton, 10,000,000 board feet Shanghai, 40,000,000 board feet: Hankow, 1,500,000 board fert: Tientsin. 9,000,000 board fect; and Teingtag, 2,000,000 beard foot.

Automobile Importa.

we would stand the chance of losing a huge sum in pre- Paganda work of a questionable

nature."

United States imported into Fladi- In South China, kerosene from the vostock was transhipped to Swatar

and Canten, in Soviet bottoms and

paimed off to the Chinese as Rus-

A feature of the import trade atsian kerosene. This, too, the prescat is the large number of Chinese did not take long to dis automobiles entering the country, cover. American cars take the leading posi tion, followed by British and Con- tinental vehicles.

Silk,

So that when the editor of the Soviet organ abave referred to talk of our trade with China being loat," he is merely talking through

his hat!

"

The gathering of the new silk crop has shown a decreas of some 10 per cent. but the quality is re- ported to be better than last year's.

However, business is picking up The silk market in Canton has been in North China and Manchuria, hampered for some time ty adverse thanks to favourable crop condi- foreign exchange and unatisfactory tions. It is predicted that a larger labour conditions. The Canton tonnage of produce will be exported authorities have to SONC extent abroad this year from the Three rendered financial assistance to the Eastern Provinces than last year. silk people but such assistance is Already there is a heavy demand generally considered to have been for gunny bags and it is be hoped inadequate.

that Hong Kong bolders of stocks will take advantage of the situa- tion.

Food Stuffs,

Cotton,

Egg products have bem moving freely. Coming now" to the rice trade, it ia reported that the The reduction of 446,000 bâles in Japanese Government intends to the American cotton forecast is due remove its restrictions upon the im- to unfavourable climatic conditions. portation of rice into Japan as a in the producing areas during Sep- result of the more or les unsatis tember. In the Southern Atlantic factory crop this season. If this states, heavy losses have been comes about, it would caus rice quo- caused by boll weevil and boll rot tations to stiffen for it is a well- as a result of excessive continuous known fact that the Japanese are rains, according to advices received great Consumers of rice. The in Hong Kong from America. In American election campaigns have Oklahoma, continued drought re- brought out the fact that California duced the size of balls and also the is a potential competitor of Bang-outturn of lint. Favourable weather kok. Saigon and Rangoon in the rice conditions have prevailed in Missi trade with Japan..

sippi and Louisiana.

Railways.

In India, the crop situation has In North Chinn, freight traffic been satisfactory with the arrivals along the Peking-Mukder Railway of Bengal, cotton into the market steadily increasing. Stocks, how and Peking-Bankow Railway is not na disrupted as it used to be. In er, are being gradually depleted the former route, Marshal Chang wing to steady buying by shippers. Hsuch Liang has enabled an im

In London, Egyptian cotton has provement in general pasanger und been dominated by American cotton. freight traffic by releasing all roll-in the trade of cotton goods with Manchester reports some activity ing stock to the railway authorities. China. There was considerable in- Along the Peking-Hankow Railway,'

the rolling stock available has now quiry at the week-end From Cal increas d. consisting of some oculta. Yara turnover has not been" locomotives, 300 passenger conches very good and Egyptian yarns are

fairly inactive. and 150 freight cars. These re- present but a third of the normul 14

Whinat

equipment it is true, but a distinct American wheat for next spring is improvement upon past conditions, put at 325,000,000 bushels, this being nevertheless.

by far the largest spring wheat ever harvested in recent years. Last year the wheat erop was 319,307,000 bushels.

Iron And Steel.

The trade with Europe, the United States and Australia and New Zen- land is usually brisk in Autumn, to meet Christmas and New Year, re- quirements.

"Chinese ports which depend upon Canton, Kongmoon. Macao, Lappa, Amoy Swntow, ete, in the South. Tientsin, Harbin, Chefos, etc., in the North and Changsha, Kickiang, Hankow, etc, in the Centre for their supplies are Antung, Aigun, Dairen, Newchwang, Nanking. Shanghai. Wuchow. Pakhoi, etc.. although there is good deal of mutual trading between them as in the case with most goods turned out; in this country.

SERVICE.

GASOLINE PRODUCTION IN JAPAN.

AMERICAN PATENT

ACQUIRED,

Mr. Hisashi Sekiguchi, president of the Bizan Electric Railway Com- pany, Nagoya, and former manag ing-director of the Toho Electric Power Company, has acquired the Japan rights to the Dubbs system of producing gasoline, a franchise beld by the Universal Oil Product Company, Chicago.

Tokuto Shima, one of the most The enterprise is backed by Mr. influential businessmen of Osaka, and the Japanese Gasoline Company will be established shortly with moters of the plan have already a capital of Y.10,000,000. The pro purchased a tract of land covering 92,000 tsubo in an Osaka suburb as a factory site.

The object of the Company is the lamp oil, light oil, and lubricating production and sale of gasoline

oil and other kinds of oil, the ex- pert, import and sale of crude oil and petroleum, and the rental, of this patent right in Japan proper, Kwantung tensed territory and. South Manchuria.

JAPAN'S COTTON TRADE POSITION,

DRITISH OFFICIAL'S-VIEWS.

LONDON, October 10th. the ratton trade is due rather to the Japan's advantageous position in strength of her business organiza tien than to her cheap labour," ac British Consul at Osaka, who spoke cording to Mr. Cunningham, former before a meeting at Manchester held under the auspices of the Chinn of Commerce. The meeting was well section of the Manchester Chamber

attended.

Spinners Association, the simpler Mr. Cunningham emphasized the importance to the Japan Cotton labour conditions existing there and the concentration on standard lines. He declared Japanese mill owners are concerned over the new factory legislation which goes into effect Dext year as its general effect is expected to force the trend of wages

upward.

HONG KONG STOCK.

EXCHANGE,

CLOSING QUOTATIONS.

OCTOBER 27, 1928, &.L. Banii............ $1,335 buy, 1,840

Imol., 1,335/57g an Do., Londen... nom Chartered Banks buy. Mercantile Banks, & &B. 631 nom.

Do.,

C...£141 nom.

P. & O. Banla East Asia Bank

nom,

THE CHEUNG CHAU FERRY Csaton Incarnaces 3675 sel..

Union Insurances....$363

,350/354. North China Ins. .................Tis, 100 buy, Yangtze Insurance........ $50 nom A NEW CHINESE SYNDICATE. OH Underwriters

124 boy, 21 Bely in According to the Gazette, the pre-China Fire Insurances....3475 buy. sent ferry service maintained by the Hong Kong Fue in......$500. kaifongs (residents) between Hong Douglase Kong sad Cheung Chau (Dumb-bell Island) will pass into other hands.

A Chinese syndicate is being formed under Mr. Li Yan Tan (Chairman of the Chinese General Chamber of Commerce), with a capital of $250,000, which will build a fect of new launches.

In this connection the Gazette says that no new licence for ferry services will be granted without public tender for the exclusive maintenance of ferries to points in the western part of the New Ter-

ritorics.

·JAPANESE BUDGET

ESTIMATES.

H.K. Steamboata........ ...........320g num. HK Taga..................$1.69 20m. Indo-Chinas (Pref)....$10) buy, 42 sol. Da (Del.)....$72) bay. Shell Transport .........

.119/- nom. Waterboats...................

..$231 buy. Benguets $2 buy. Kailan Mining Admin. 71/6 bay., 78/6

Leal, 73,9/71/- *. Langkats (combined)....

Da. (zingle)

bi Rom ...TU.

Ts. 2.8) bay. Bhai. Explorais shughal Long......

..la. 3 bay. Raub

$i nom. .17/6 nom. ..$133 nom. ...$37 zom.

Tronoh Mines

H.K. & E. Whacz.. E.K. W. Llocks

China Provideate

Faakke*!nn.

Now Engineerings

REMOVAL OF THE COLD BAN. Shanghai Docks,

(THROUGH REUTER'S AGENCY,}

for

nom.

Т. 156 дота. Th. 31 b

buy. Tls. 103 buy. Tis, 11.10 non Tis. Xt sel T2. 631 buy. inew)......Tis. 27g bug. $8.80 boy.,9

9/4.20 ...

Ewo Cottons Oriental Cottons B'hai. Cottons (old)

Da. TOKYO, Oct. 27th.

B.K. & S. Hotels After several days' heated discus- aion in which various Departments HK Lands of the Japanese Government at Shanghai Landa.......Tia. 138 buy. tempted to press the Finance Humphreys Estates......$15.70 nom. Minister for a large increase of ELK. Reaffic..............

19.15 nom appropriations expenditure K. Tramways..... $314 bay, 21 during the coming financial year,

1 sei... further 5,500,000 yen only, aa it the Cabinet finally approved of s Foak Trams (old).......$13 bay.

Bo (DHW)........$0.30 com. would otherwise be necessary to Star Forrias 267 fost more bonds, thereby retarding Okina Laghts (old)...$13.35 bay., 18.60 sal. the removal of the gold ban.

(ne....... $13.0 10. Do. (1928 issuer...318.20 buy. Electrics (sid)... 151 bay..61g/sa. Da.

дом (new)......$51 ORL Macao Electrico buy. Telephones.$7; bay, cum right ...........25.90 buy, x riguie Do. rights...$3,30 nom..

**********. 11 buy." Chins Buses

British, American, German, Bel gian and Japanese suppliers of rail- way materials and rolling stock are looking forward to extentive orders for replacements, now that inter- The pig iron market in London is necine warfare has ceased. The quiet, export movement being un- greatest stumbling block it the mo- important. The black steel sheet ment, however, is the question of market is active, with substantial Clearly, the financial transactions with the Orient. The payment. state of the railways at the present London Iron and Steel Association ban to be lifted next spring."

Cluse observers expect the gold time does not permit of their dis- is reported to be providing long

The total estimates to be present- bursing large sums for construction term credit to foreign buyers ined to the Diet will therefore be materials and rolling stock replace order to. attract important orders 1,738,400,000 yen. ments, and the suppliers, uncertain from abroad. Lead is comparatively details have not yet been publish- Departmental as yet of the ability of the Nation- quiet, undoubtedly on account of ed. alista to manage the country's the Australian labour crisis. finances satisfactorily, art not keen to extend credits without ample security. Needless to say, business men are paying close attention to the Chinese political situation.

Crops.

Recent Quotations. market quotations:-

The following are some current WHEAT-Liverpool: October, 95. Bd. per 100 lbs; March, s. 7d.; May, 95. 7d.; American: October, Satisfactory crop news is received 81.50; December, 81.19; May, 81.95). | from all parts of China with the Canadians October, $1.23; Novem- exception of Shantung and Chihli ber, $1.221 December, $1.211; May, In the former province, it is certain | $1.208. Australian: 55. Od. per that famine conditions will again bushel, October-November. prevail this winter. The people of LONDON METAL MARKET-Copper, Shantung have really neier had a standard, 64.11-168.. Electrolytic chance in recent years to improve 7215., Tin 21836., Lead 221s., Spelter their general status, what with the 24.6-169.

incessant military operation, bandit LONDON OIL MARKET-Linseed; depredations, taxation, etc. In La Plate oil, 166, October-Novem- Chihli, the ex-Tupan, Chu Yu Pu, ber; naked, 28js., November-Decem- known to his people as "The Wild ber; 2828., January-April. Воул Boar" has "milked the wow dry "bean oil, in bulk United Kingdom with this and that tax, and it will or Northern European ports, Novem- take his successors some time to ber 31s. straighten things out.

(Continued on next Column).

AMERICAN COTTON SEED-January 9.88 cts. per ib., March 10.02 cts..

NEW YORK SILK MARKET.

HK

Do.

Do.

buy.

Sapore Tractions,...12/ num.

Do. (Prof.)... 18/3 buy. Chron Sugar New York, October 15th..

Malabon Hingar $214 buy, The tone of the silk market was

Canton Ices.831 20m. steady to-day and there was a fairly

Cements (combined)......$930 nom. active trade in a stable market.

Do. (old)3 now. Prices advanced from two to four

Do. (new)........Bij bay. cents per pound, rallying another E.K. Ropes (old) $7,60 nom. cent after call trade. The general

bo. (now) .......................37.45 vom.“ character of the selling appeared as United Asbestos ...... 5' com. good as the buying.

Dairy Farme... 22 Į bayi, 23] sel, 23 mai Commission houses and local ope- Watons

1141 bay. rators were selling while importers Der Wings $0.50 com, offered fair quantities. To-day's Lane Crawfords 3.05 buy quotations were:-

Mackinto th..............310 nom. Month Open, High. Close, Binceres.

WD 5.01 October... 5.00

3.01

Lowells bay.

..............$3.00 buy, November 5.01 5:03 5.03

HE. Amusemente 33.6

$281 $61. December 5.02 6:03 5.03 HL.K. Constructions ******

...........li bay, January

5.OZ 5.03

B'que, Indus, G. Bonds.....66% buy, ******* 15.07 "February ... 5.05 ·

H.K. Gori. Loans.8% prom, bay. 5.0% 5.05

Do. March... 5.03.

(now)...81% prom, buy, 5.05. 6.05 April

5.03 5.05 5.05 by-buyers; sel-selluga; mai-sales;.. May

5.07 5.07 5.07

nom-nominal,

Liverish People Need

N

Vichy Celestins

TICHY-CÉLESTINS in a natural orderly which helps, the liver to function normally.

"Its gently stimulating effect is welcomed in an cases of singgishnes. It clears the binod-stream from all impurities.

Vichy-Célestins is rary pleasant to the taste, and may be taken at meals either alone or mixed with light wines- or spirits.

The French Natural Mineral Water,

(VÍCHY-CELESTINS

Obtainable at all Hotels, Clubs,

Chemists and Stores, or from the

Sole Agents:

The French Store.

Beaconsfield Arcade.

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Westinghouse Electric

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ON SALE

OUND VOLUMES of the KONG WEEKLY

BONG

PRESS, January to June, 1828.

WITH INDEX, PRICE $7.50.-

21

On Sale at the HONG KONG DAILY PRESA OFFICE.

EXCHANGE RATES. (BRITISH WIRELESS SERVICK]

Paris

RUGBY, Oct. 27th.

124.10

Geneva

25.20

20.35

18.19

1324

375..

Berlin Oslo.... Helsingfors

Athens

Buenos Aires New York Amsterdam Stockholm Vienna

Lisbon

Bucharest Bombay Brussels Milan Copenhagen Prague Madrid

· 471·

4.84.31/39 12.095 18.15 34.405

1071

1609

1/8.1/16

34.89

02.55

19.19.

30.103

1631

Rio Yokohama

**** 5.29/32

1/11.7/16

Hong Kong.

2/T

Bhanghai

Silver (spot),

Silver (forward)

20.3/18 26.15/16