Page
A REAL DRINK
BOARS HEAD
GUINNESS'S
BRAND
FOREIGN XTRA
STOUT
A WORLD-WIDE REPUTATION
SOLE AGENTS:
GANDE, PRICE & CO., LTD.,
ST. GEORGES BUILDING, ICË HOUSE STREET.
Tel: Central No. 135.
RY APPOINTMENT.
General
Accident Fire and Lite
Hong Kong.
Assurance Corporation, Limited.
ESTABLISHED 1885.
HOUSEHOLDERS' COMPREHENSIVE POLICY
Insures the contents of your residence against Burglary, Housebreaking, Larceny Theft (excluding theft by servants), Earthquake, Typhoon, Flood, Burst Water Pipes, and/or Tanks, Riots and Civil Commotion and extends to cover temporary residence in any inha- bited. Dwelling House or Hotel in China. The cover may be extended to a country outside China by arrangement on application.
ÅSENTA:.
J. H. BACKHOUSE, LTD.
TEL No. 1733,
1A, CEATER ROAD.
Sole Agents 1-
THE HONG KONG DAILY PRESS, WEDNESDAY, JANUARY 9th, 1929.
Money and Markets
HONG KONG MARKET
REPORTS,
Quotations in Hong Kong mar- ket yesterday for rice and sugar were as follow:-
Rice.
SALT. HERRINGS.
CANTON EMBARGO LIFTED
THE BOYCOTT MOVEMENT.
PHILIPPINES NOT AFFECTED.
£15,000,000. BID, FROM AMERICA.
OFFER FOR GREAT BRITISH PIONEER ENTERPRISE
7 PER CENT, YIELD.
"Another attempt is being made by American interests to acquire from this country one of its great, pioneer enterprises in South America, says the Daily Express,
is the United River Plate Telephone Company:"" It was founded in 1986, and has an issued capital of £8,280,000.
Manila, January 3th-While China's anti-Japanese boycott is severely affecting Japanese trade in Siam, Java and other tropic and South Sen countries, the Philippines are getting off easily and Japanese The ban which has been placed goods continue to find ready entry on salt berrings on the ground than and sale, the United Press learns Pet
they wore imported from Japan, has from a high Japanese official source. Paul,been lifted by the Canton Authori
This is believed to be due in The ties, according to a letter received by the Chinese Chamber of Com-large part to the fact that the
Philippines Exclusion Law has kept | Chinese coolies out of the islands Incoming freights are not, as also- where in many Far East ports, handled by Chinese workers.
7.60
Cheung Chung No. 1
........03
Green Dragon White.....
Red See Mui White
0,60
Black Seal White Siam...
6.70
Green Elephant White Siam
679
Red Pearl White
**.99
Red Seal No. 1 Glutinous
6.06
Red Seal No. 2 Glutinous
5.60
Green Seal No. 3 White
687
Black Beal Brewer
6.52
Blue Seal White Brewer ... Green Seal White Brewer...
&
6.54
Sugar.
Per
Picul.
No 19 coarse powdered.... 87.39
No. 0 coarse powdered
No. 24 coarse powdered
7.49 1.8
CANTON COTTON YARN
Business in cotton yarn at Mon- day's market was yery quiet. Apart from a few transactions with the Fatahan dealers, no business was done. Prices dropped $2 per bale.
Quotations at Canton on the 7th instant were as
follow :--
No. 42 Five Sans...
Fun Hi...... Butterdy
No. 32 Ping Deer
merce.
It will be remembered that some time ago, merchants complained 10, the Chamber that a shipment werth about $20,000 was seized by the Anti- Japanese Picket in Cacton on the ground that the herrings had come from Japan. A protest was then made through the local Chamber, and it was pointed put that the fish 14:18 imported from Canada. Dealers will be glad to know chat the ban is now lifted.'"
HONG KONG STOCK EXCHANGE.
CLOSING QUOTATIONS.
JANUARY STE, 1999, B.K. Bank..................$1,340 bay. Do London.......£347j nom. Chartered Banks; buy. Marcantile Banks, A. &B...£34 nom.
Do.,
O.£14 nom.
nom.
..186 buy
$005 bay
.....1968 bày,, 568 m.
You buy.
nom.
Per Bale,
F. & O. Banks
8564
East Asia Backs
| 330
Canton Insurances
324
Union Inra ances
474
North China Ins
Tin Koon
470
Cheung Hi
470
No.120 City of Gold
324
Yangtase Insuranon.......... hi. $30 nom. China Underwriters ......$22,40 sel China Fire Insurances....$250 bay....
Globe
3:8
Hong Kong Fire in.... $780 nom.
Good Harrost
314
Double Harst
310
boza
129 buy. 29. 2ol.
Tin Koon
315
31.40 sol.
Double Elephant ......
319
Indo-Chinas (Pref.)
Do.
Tram Car
306
(Def.)
Shell Transporta
Man Clock
314
Union Waterbosta...
Shepherd
301
$80 bay. 116. nom. $out bay.
No. 16 City of Gold
293
2.40 bay.
Fui Krai
294
No. 12 City of Gold
283
Peacock
294
Fui Kwal
277
Shanghai Leana
S'ha. Explorations
Tram Car
975
Banba...***
Aeroplane.
973
Tronoh Mines
17/6 not.
No. 10 Sailing Vessel
959
A.K., & K. Wharfa.....
City of Gold
258
HE. & W.Docks,
10 buy..
*Peacock
261
Chins Providents
bay,
Lotus Bea
Hangkew
No. 8 Lion
204
Hut How"
206
Shanghai Docks
New Engineering
Ewo Cotton....
231
CANTON MARKET REPORTS.
Quotations at Saturday's market for rice, sugar, flour and oil were La follow:
"
Red Pearl
Red Seal Ola
Rice.
Benguet mandi. dů
Kailer Mining Acunia....70/. day. Langkata (combined)....... 10 nom.
Tls. 6 nom. 1%
2.90 nom.
buy.
Do. (single)
en
Oriental Cottona..
Do..
..351 buy.
T. 169 buy.
Tia. Se nom.
105 20 Tle. 19.20
he Japanese believe, on a basis of their experience here and ele where, that it is largely upon the
company
Twelve pounds is being offered for each £3 share. This represents approximately £13,000,000.
Unattractive Offer,
The offer is not attractive, and should not be accepted by share
presence or absence of these Chinese holders. Shareholders should con- workers that the effectiveness of aaider the following facts: boycott depends. Where there are roplies who will decline to handle
Japanese goods, the boycott clamps down hard; where the effectiveness of the boycott is strictly up to the Chinese merchants themselves,. their canny business senso asserts itself and they handle Japanese goods as usual if there is a good prefit to be made.
Although leaders of the Chinese community here, including the newly-arrived Consul-General H. K. Kwong, are endeavouring to stimu- late importations of Chinese manu- factures instead of goods from Japan. Japanese experts declare that the Chinese merchants still find their best profit to be achieved through handling Japanese goods.
China.
The company has for maný years paid regular dividends of
MARCHANT'S
SIR?
Certainly.
What else
8 per cent. tax free (equivalent should
to 10 per cent. less tax).
Shareholders have also received bonuses in the shape of rights to subscribe for new shares at par,
distributed with consistent regu drink?
larity since 1904. For the past seven years alone these rights have been equivalent to an extra 6 per cent, per ackum
These bonuses are tax free, and are the equivalent, calculat ed on the present rate of tax, of nearly 8 per cent., less tax, per This calculation as-
annum.
sumes that the shareholder im- mediately sells the rights on the market.
The dividend, plus the cash equivalent of the rights received
annum. 1-
Chinese industry is still in a re- latively primitive state, it is pointed out, and not many of the necessary commodities are to be had from by the shareholders over the last | seven-year period, actually amounts While Japanese cotton goods and to over 18 per cent., less tax, per other products, continue to arrive in considerable quantities, Japanese matches are being rather heavily affected by the boycott. In addi- tion to the fact that there is a grow ing Chinese match-manufacturing industry (utilizing largely Japanese raw materials, it is said), there is one rather extraordinary cause for this, according to Japanese inform
ants.
On this basis the shares at the price of the offer give the new pur- chasers a yield on their money of, roughly. 7 per cent.
High Yield..
It would be difficult for the
British investor to purchase any other atable public utility share on which such a high yield could be. secured.
Not only is the com-
I
MARCHANT'S Gold Label Whisky.
?
im-
It appears that many of the Japanese matches sold here come from
& company, in which the Japanese Premier, General Baron Tanaka, is largely interested. Baron Pany's present positition Tanaka is a special target' for Chi-mensely sound, but it has enormous aese animosity, as he is responsible possibilities. Its earnings should for the aggressive palier in China be considerably increased by reason bay,
to which the Tsinanfu incident and of decreased costa. other objectionable episodes are at-
Already, the city of Buenos Aires tributed. Therefore, by boycotting has been converted to automatic Japanese matches the Chinese in telephones to the extent of 60 per the Philippines feel they are wield- cent., and when the process is com ing a weapon which strikes perpleted the saving in operating sonally at their chief foe!
costs is estimated at not less than Manila has some 2,000 Japanese £200,000 per annum, or another 3} residents, and there are about
hai. Cottons (old)......Tlr 854 buy.
(now)......Th. 39
59 buy
9.45 HK &. Hotele... $9.35 buy,
sel., 8.40 88. EK. Lands
$64 buy. Shanghai LandsTls. 165 bay. Humphreys Estates........$14.80 buy.
.com.
$20.70 bug,
It..
60,000 Japanese in the island. They per cent. in dividends.
The United River Plate Com $1,000,000 import approximately 20.30/2.70 58,
worth of goods from Japan annual-pany has a splendid property.
connected with covers the principal towns of the Many are forestry and plantation development Argentine, and is rapidly extend- work in the large and undeveloped ing its local as well as its toll and aland of Mindanao, and fruits of long distance connections. The Ar this toil will begin to appear before gentine is a rich, rapidly growing, and friendly country, and, tele long, although for the present many phonically, speaking, it is unde of their enterprises are being operat
veloped ed at an initial loss.
H.E, Electrica (old) ......$53; sol..
nom.
..T 111⁄2 bay.
The Japanese "are orderly and Singapore Tractions... Bid sel lands, even the Chinese seem
well liked by other residents of the
Do. (Pret)...17/8" Sandakan Lights.
China Bugar....................bỹ cta. nom. Malabon Bagers ....... 23) buy.£
Cements (combined)......
.. nom..
to develop few clashes with them.
Per
Picul
26.58
H.A. Realtics
0.58
B.K.Tramway.....
Red B. White
6.23
Peak Trama (old)
$13 sal,
Blue Scal
6.52
ly.
Bo
Green Seal
8,40
Star Ferries
·Red Y
8.25
..$5,80 nom. buy., 19
74/4).
China Lights
No. 3 White Broken
8.08
Green Seal Old
6.60
Do
(DOW)
3.511
Per
Macao Electrics
$26 buy.
Sugar.
Picu!
Telephones (old)......
$5.90 buy
Taels.
Do. (new)
36.30 buy.
No. 2 coarse powdered No. 3 coarse powdered No. 20 coarse powdered No. 1 Granulated No. 1 Fine Granulated Wai Chow White' Spring Candy
88.10
China Buses.
7.70
Rum,
7.80
bay..
9.50
nom.
.10.20
8.50
10.00
Chaton Ices
Per
Flour,
Bag.
34.03
...Do.
4.15
B.K. Hoper (old)
7.60 nom.
4.10
BABADO.
Do. (207)
$7.33
Cheung Luk
4. LA
United Asbestos ......
.85 nom.
Maize
4.23
Dairy Farms.
boy.
Sword of Kwantai
4.90
Cannon
4.65
Der & Wings menu
Cabbage
4.45
Lane Crawfords.
Dalton.
4.50
Mackintoshs....
Dog's Head
4.50
Sincerodüstrisi
Per
Wm. Powall.....
3.. Ou.
Picul.
Ground Nut Oil:-
Taels.
Fangebi
23.83
Honan
23.90
Tientsin
25.00
H.K. Amusements ....128) sel H.K. Constructions ......$14 nom.
•B'qué. Indus, G. Bonda...68% buy. Hi, Govt, Loans.5% prem, sel. buy-buyers; sellers anales;
Deiren
$7.00
Kwangsi Wood
7.70
Man-of-War Silver Seal
CANTON STOCK EXCHANGE,
Drink
Asahr Beer The Sun Company
it is
China Merchants S.S. Navy,
$10.10 buy..
10.10/26
(old)....80 Mom,
Do. (new) ......81§ buy.
sel.
20 80, $13.20 som. ..80 cis, buy.
$3.03 nom
$20 som.
38 bay.
$3,65 nom,
EXCHANGE RATES.
رابر
[BRITISH WIRELESS SERVICE.)
Rucký, Jan. 7th.
124.06
4.85 6/32 34.89
LATEST QUOTATIONS.
more Water Works
...CANTON, Jan. 7th.
83.60
Paris
Electric Power Co..
5.10
New York
Canton-Hankow Railways
0,30
Brusscis
6.70
Geneva
Sincere Co. an
9.50
Amsterdam
Nanyang Bros. Tob. Co.
25.19 12.071
4.50
Milan
02,60
Canton Tramways
2.25
Berlin
20.39
Company
0.65
Central Bank
4,80
Stockholm Copenhagen Oolo Vienna Prague Helsingfors Madrid Lisboa Athens Bucharest
18.13
18.16 18.10 31.445
183 192
240.725
108
375
BOT
5 28/22
*47
1/8 1/16-
2:,,
2/01
refreshing and
invigorating.
MITSUI BUSSAN KAISHA LTD.
HONG KONG.
INDIAN COTTON EXPORTS,
CORRECTION.
A reader kindly calls attention to an error in the heading of an ite which appeared on this page yester- day. The figures given dealt with the export, from India of raw cok- ton, not cotton yarn, as wrongly stated.
•Rio Buenos Aires Bombay Shanghai Hong Kong Yokohama Silver (spot) Sliver (forward)
LABOUR MARKET IN SOUTH FRANCE,
PEASANT SELL" THEM- SELVES FOR A YEAR.
In the past five years the market
should consider seriously before value of the company's shares has doubled in value, and bolders.
parting with shares in the com- pany, however genuine the surances of the buyers Such ac
on might in time deprive British industry of an important pur chaser of telephone equipment."
TO-DAY'S WIRELESS
дво
PROGRAMME.
BROADCAST BY G.O.W. ON 300 METRES.
TWO GUIGNOL THRILLERS.
Saint
Dec. Etienne (France), 10th (U.P.). From the highland pastures and farms of the Auvergne are gathering here, to-day, han dreds of little shepherd girls, boy cattle herders and grizzled red bearded farmhands ready to step on the block to-morrow to be auc tioned, off to the highest bidders at the annual "farm labour auction.
Excited pensanta, 'little bags of coing in their hands, stand around talking excitedly, pinching the biceps of the farmhand or running B
their hand over the calves of the shepherd girls as they size up the auctioned labourers and bid accord- ingly.
1.48 p.m.-Weather Report. 5.30 p.m. to 6.30 p.m.-Demon- stration Programme.
7:48 p.m.-Evoning Weather Re- port.
Programme.
p.m.-Evening (H.M. and Victor Records).
The Hair (Related by Bowick Rolland).
10 p.m.-News Bulletin H.M. and Victor Records.
The Monkey's Paw (Related by Bewick Rolland).
Dance Music.
So great is the shortage of labour in France that there will be five bidders for every labourer who is seeking a year's work. Tradition has it that every year on the day after Christmas, the farm workers who are dissatisfied with their pre- rent jobs shall come into Saint Etienne and go into the auction,
The peasants bid for the kind of help they need. They buy the ser- vices of the labourers and pay in advance. The sum of the anction labour is to be well housed with a
10.30 p.m. Close down.
The provisions of the rental
specify that all of the auctioned
add by the auctioneer until the clean, warm, dry place to sleep. end of the year, then, after extract- The mea are given a new suit of ing a good comission for himself, clothes and girls a good dress, he turns over a lump sum the part of the bid. worker.
The inbourers make this event a
Liverish
7
People Need
Vichy Celestins
KTICHY-CÉLESTINS is a natural
orderly which helps the liver to function normally. “Ita gently stimulating effect in welcomed in all. cases of sluggishness. It clears the blood-stream from all impurities..
Visky-Celestins is very pleasant to. the taste, and may be taken at meals either alone or mixed with light wines. .or spirits
The French Natural Mineral Water.
VICHY-CÉLESTINS»
Obtainable at all Hotele, Clubs,
Chemists and Storea,
"or 'from the
Sole Agents i
The French Store
Beaconsfield Arcade.
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"NEWS OF THE WORLD": ALL THE NEWS FROM HOME. LATEST LONDON FASHIONS. Popular Bonga Thrilling Serials
SERVICE TO READERS.
PRESS, LTD., and the HONG THE HONG KONG DAILY KONG WEEKLY PRESS, through their London Office, st 21, BRIDE LAN FLET STRIEZ, EC. 4., are prepared to give Bubscriber and Visitors advice Regarding
In recent years, since there has sort of annual fete. Flush with been shortage labour. in facilities,dation available,
sants have sought to make their bids, they dance and. sing during the centros, stor home, they will cat
more attractive by offering as side. week before and after the auction.
1, when st
Lines certain holidays, meat twice It is their annual spree. Every telephone to the above address, they will instead of once a day, a litre more year romance buds for some of the receive the utmost wesistance and the 1/1023/32 of wine per week or even a share shepherd girls, or boy herders and latest available information in all sub- 28 7/32 in the farm profits.
not infrequently a dosen marriages|jects of enquiry wil be placed at their 201
diarcal (Continued at foot of next column.) 'result.
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