1929-02-13 — Page 9

20

Money and Markets

COTTON.

EFFECT OF ANTI-JAPANESE BOYCOTT.

Messra Pentreath & Co. have handed us the following letter from Messrs. Hornby. Hemelryk & Co.,.. Liverpool, of January 10th:-

Since our last raport, prices have advanced about an points.

The market has been very quiet during the past week, but the under tone has been very steady.

It would appear that, whilst there is more business passing in Lan enshire, trade in Amerie shows some indications of falling off.

י 4. י

IMPORT,PRICES" CURRENT. The reports and prices are published applied by Importers, and the Chamber cannot accept responsibility for the

curacy thereof.

Matala ION AND STEEL-e v

Nail Rods

per picni 8,90 Steel Bare(round) to 14).

U

The

Anglon

Beds

*4.805,30 4,65 5.10-4.35

Joists

Shoots 4' x 8" " Plate

13

17

9.15 4,85-6.05

Tendency upward, firm market Swedish Bar per pical 111.00- Small round roda

5.35-6,20 7.65 10.55

Tabes, black

+

Hoops, black steri gairanized

1 per cent galvanized Wire Nalla, 11-S

per picul 770-800 Galvanised corrugated afecta,

*3428.

per 100 lbs, 240 $7.10 Galvanized flat-sheets,

1/32", 1/6".. por 100 lbs. 260 38.10 Galvanized 3/32° 24° 29° pient 19.40

+ Umivanized wire 19/2 $11.50-12.00 Galvanized wire 3' x 7'

(Japan mado) per pical- B., Spot

"13.40", To Live

13.50-13,60 Australian-B.H.P., Spot 1400-14.20

"To arrive" 14.20 English Yellow Motal

14 to 18 oz.... PAN COPPER -- Japan make 20.oza.

The principal business in Lanco shire last week was the receipt of some fairly large orders from China the boycott of Japanese goods by the Chinese proving to be of benefit to English manufac There are also indications turers. that India is evincing more interest than she has latterly, and a good LED enquiry has been received from that quarter for dhooties and other leading lines. This, will, it is boped materialize in business, al- though, at present; most of the bids are too low to admit of acceptance.

As regards the cotton cloth trade in America, the December figures of the United States Textile Institute are rather disappointing, sales being returned na sof per cent. of production: deliveries on per cent of production: unfilled orders decrease on the month of 91 per cent; end of the month increase in stocks, 8 per cent.

The basis is inclined to start hardening a little in the South.

Heavy rains have fallen in the Belt, and, there seems, te be plenty of moisture being stored up in the ground, which will be beneficial later.

Talk is again rife of a slight in crease of accesgo in the Western States, but no increase-possibly a amall decrease in

the Eastern States.

Farmers would be "well advised hot to increase their acreage, but whether they will follow the recom mendations of their bankers and other authorities remains 13 be

seen.

1

Sinbs...

Tra

THA

***

"

» 23.00

LE

4.9.20-9.40 0.35-9.20

we Saxers, 8 x 4 FASTE AND ÖLD MATERIA LUB.

PLATES:- English I.C.W., 2014, 100

ths. Spot

•P. bez 9.20-0,40 To arrive" 9.00-9.20 English 1.C.W. English I..W, 181 14",

110 16. Spot English ICW, To Litive" American I.C.. (Spot)

20" x 14" 100 IDR..... ." 11.60 American I.C.F. Tu arrive

M11.00 2014" 100 lbs. 6,000 bores sold. Market stondy, Petroleum Products, ITS ROBE URANG

*** per 05.30 4.30.

COMET BRAND Ceci EAGLE BRAND

"

LOEP GEAR

***

It is said that large quantities BULL MOTOR SPIRIT

of fertilizer will be required in the Eastern States, but very little, if any in the Western States The co SCALE, National Fertilizer Association re- ports that, sales of fertilizer in the five months ending December are 13 per cent. less than in the previous year. This confirms the belief that the increase, if any, in acreage will

be small.

Reports are current that holl weevils are hibernating in large numbers.

In the meantime, world consump tion proceeds along satisfactory lines, a guide to this being found in the World's Distribution to Spinners, which totals to date 8.297,000 bales from the beginning of the season, against 6,089,000 last year,"

This increase of consumption will undoubtedly infuence prices in an upward direction "sooner or later, and we should not be surprised to see much higher prices" in the Spring.

Our hopes of spinners being able to buy cotton under 10d., have not

yet been realized, and we may have

to modify these views. Certainly,

per gallan

+

411

4.11

por 2 tins 3.64

J.

6.60

"Y1Y FOO Taco SCALE, "TETICO

400 GASOLINE"

Kerosene prices advanceć 22 conte per unit on the 1st instant. goals.

4

urine-No. 1 Lamp

+1.

+++

THE HONG KONG DAILY PRESS, WEDNESDAY, FEBRUARY 13th, 1929.

BIL IN NORTH SAGĦALIEN,

PRODUCTION DIFFICULTIES

BEING OVERCOME.

NEW YORK STOCK

QUOTATIONS.

New York, Feb. 8th..

Praviora Latent Price, Price

Stock Notable progress, has been made Allied Chem. & Dye (Com.), 299 American Can (Com.)... 1. 116-118)

... 119 118 by the North Sagbaliz Oil Co., American Smelting

American Tel. & Tol. (Com.)... 21TË SISŤ Ltd., which was formed in June, American Tobacco " 8" .... 180 177 1998, for the purpose of exploiting Armour & Co. (B) 7% Pid...

Armour & Co., "4"

18 17

ail concessions obtained id Moscow anaconda Copper

... 228 1251 by Vine-Admira? Jüli Nakasato, Baltimore & Ohio Bank of Montreal, now its president. According tô Bethlehem Stoel (Com.) Trade Commissioner Paul P. Stein-Bethlehem Steel, 7% Pd.

Brooklyn Manhattan Transit... torf, Tokyo, the company drilled Calumet & Hodla sight more wells in 1927, bringing

the total is production to 19. -At the end of the year it was pumping

|

Campa Corp.

Canadian Pacido Railway Cavanaugh Dobbi Consolidated Gas of N.. Chrysler

IN

、、、...』『1,271

... 11081

1194 108

742-701

85

613

* 32

188" 180

... 180 184

EXCHANGE RATES,

[BRITISH WIRELESS SERVICE.)

Paris Brussels Amsterdam

Berline Copenhagen ...Vienna

Helsingfors Lisboa Bucharest

Rros, Feb. 11th.

121.93

34.00

12,111

20.45

13.193

34.5-45

193

1094

1

911

47 7/18 Holiday.. 1/10 7/13 4.83 11/39

Silver spat & forward 23 13/46

144

.... 128 129 410-403

.911 873

Buenos Aires Shanghai

122 122

78)

Yokohama

74

New York

... .571 541

100 100

Geneva

05.24

Milan

92.75

... 2333 2481

Stockholm.

15.13

Oslo

13.10

Prague

164

Madrid

30,073"

'Athens

173

Rio

3 29/39

Bombay

1/3 1/32

Eong Kong

Holiday

33 91

... 248 235/

34

... 1037 101

18 72

91 882

***

4+ 631

961 03

93 001

834 604

134

19) 107

Eennecott Copper

149 181

north

Kapstone Aircraft

45 48

Liggett & Ayers, Cina B

95

251 25

... 111 2004

din Square Garden

17 wells. The 1927 output amount-Caty, Incorporated-

Davison Chemica ed to. 68,700 tons-a figure consider-

Dry Docks ably higher than the estimates of oil experts, but, according to the author of the article, obtained direct from the producing company. This tonange, moreover, was equivalent to one-quarter of the production of Japan proper and Formosa. Ia comparison, the, 1925 output amounted to only 23,400 tons.

|

Da Fent de N., EI. (Com.) Eastman Kodak..." Fox Filmд" Boascal Electric Co. General Motors... General Rly, Signal (Com.) Gold Dust Goodrich Rubber Granby Consolidated Haygart... International Cement (Com.)... International Match, Pid. International Nickel (Com.) ...

Lillard Co. (Com.)

Mack Trucks

Maytag Co.

Mirouri Paciß: (Com:) National Dairy Products Nerada Consclidated Copper... N. F. Central Railroad

B2

STAR

THEATRE

0631 FOR ONE NIGHT ONLY

94

20 20

131 71

133 127

481 431

--- 197 103 龆

A résumé of the article, which has International Printers Ink... been checked carefully and apparirizator

Inter. Prod. Corp. (Com.)

ently represents a reliable state- ments of developments in Sakhalia, follows:

According to the terms of the concession agreement, the eight proved Belds-Oka, Tehabi, Pirit suun, Nuto, Chaiwo, Niivo, Wivrek, and Katungury-are divided into checkerboard squares, each with an area 83.7 acres. The Russians will have the black and the Japanese the white squares, and the success of either depends largely on getting down effect, wells to drain the other's territory. As the

ange in size from Wivrek, just under 900 acres, to Oha, with prac tienily 2,500 acres, speed in drilling is one of the prime essentials.

areas

2 tina 2.72 ...per bulk 8.12 SOCONT MOTOR GASOLINx... por case 7.22 BLVER LIGHT Crows BRAND... 63 lbs. per 2 tins 3,72

"

8 i, galia. 68 lb. por hulk 3.12 Half of the Saghalin oil terri COBE BRAND 71 lbs. per 2 tins 3.46

8 galla. 71 iba por baik 2.86 tory is held by the Japanese and per casa 860 half by the Russians. In addition, per 2 tias 6.35 the Japanese interests, are allowed

per bulk 6.85 (ex pamp) 0.10 to prospect over other delimited

per case 4.11

areas of 1,000 square versts, or 420 3.87

square miles (231,232 acres), which adjoin the present fields. At the end of 10 years, in 1936, the com pany may have concessions on half $16.00 the additional area it is to prospect, 19.00 Ohs The Only Producer åt Present. 12.25

So far Ohs (the farthest north) is the only field in production, and all the 19 producing wells are there, Throughout the archipelago, of which both Japan and Saghalin are parts, the pressure is poor and, the oil sands are rather near the sur- face. The north Sagbalin company prefers to conceal the depth at which it finds the sands, but is will- 2.80.2.90 ing to admit that not even test 4.70 borings have gone below 180 meters, 2.65 o: 591 feat. Within this range five

strata of oil sands"have been dis 400,000 bags covered and only the two top strata 100,000

have been tapped by wells. 40,000

Nut Coal No. 2 Lamp Special Slack...

No. 1 Black

14.00

20.76 10.15

No. 2 Black

Flour Report. GrotationB :—

American Patent ...per sack $1.20

Straight

255-308 Cut of

2.35-3.20 Shanghai Flour Australian No. I

2.P8-3.05 No. 2 No. 8. Canadian Cut off.... Straight...

Mixture"...

**

2nd Clots...

STO-

American ... Canadian Australian...

for the moment, the market looks Hans-Weak very strong and might advance fur- ther.

Empire Cotten.

Brazilian has been in quiet de- mand during the past week. Good business has been done in Peruvian, and a fair business has passed in East Indian. Spot sales: 1,440, 6,890 and 1,140 bales respectively.

According to cable advices from Bombay, the market is depressed. Labour troubles at the local mills continue.

in

Writing on the 28th December, one of our correspondents says" that the weight of the Indian crop has not yet been fully felt, and that, at the end

of January or February, purchases of July-August Broach against sales of October American in Liverpool should prove profitable.. July-August Broach is not yet quoted here, but the difference this morning between April-May Breach and October American is about 225 points.

The Bombay, Cotton Association has decided not to adopt the pro- posal that the unit of contract be "reduced to 10 bales..

Egyptian Cotton. Since our last report, prices have advanced about 50 points for Sakels and 35 points for Uppers.

The Liverpool market met with long liquidation by Alexandria during the early part of the week, but recovered later on trade and Continental buying, supported by the steadiness of American cotton.

Sundries,

WINDOW GLAN-

2.85-2.05

+

No gushers have been brought in.

$40,000 bags As a matter of fact, none of the wells will flow by itself: There is practically no gas to aid in lifting the oil at Oha, and the black liquid

4th Quality of 100 sq. ft. per box 5 6,40 is brought to the surface by pumps.. Far average sizes

6.60-5.80 At Nuto, however, the company is

1/187 thick

(27 028.)

1/8/

13.75 To arrive. China, India and Straits Produce.

Java Rough White... per picul $7.33-7.78

(Reported sales 33,860 picula. Spot) Java Rough White per picul $7.58-7.63 (Reported sales 4,126 plculs To serve daring Feb., March, April, 1929.) Java Fine White per picul 18.40 (Nom.) Java Rough Brown per picul $7.18-7.53

(Reported sales 11,220 picals. Spol.) Java Rough Brown per pical

Java Molasses per picul 15.40 (Nem.) Java Crystal No. So......per picul $7.81

(Reported sales 9,000 picula.) Java Crystal No. 18 per pical $7.40

(Reported sales 18,900 picula,) Java Soft White - per pion! Java Soft Yellow per

#pien!

Java Brown...

[Reported sales 7,700 picule.)

per pical

Java Stroop Iloilo, No. 1

No. 2

"

No, &

No.4

2

No. 6 Manila Brown ....

(Report sales 3,210 picula.)

per picaj

Manila Block ....

Hoihow Brown...

Bingapore Candy Market quiet. LTPETRE

No. 1 No. 3 No, 3

per pical

$3.53

$3,58

doing some prospecting and has found.some dry gas. One or two wells were being drilled there early in 1928. It takes about 30 days to drill a well by the American cable method. Incidentally, only 17 of the 30. wells the company has drilled are on production, which appears to indicate that the shallow holes drilled so far have little in them.

Success Despite Handicape. Only Japan's determination to supply a larger portion of its own. petroleum needs has made possible the Saghalin development. In the first place; half of the higher off- cials in charge of operations must Russiane and, of the lower classes

of workers, only 25 per cent, can Le Japancee. The Japanese-em- ployees, as a rule, do not speak the Russian language and the Russians do Dot speak Japanese.

Tew Japanese, moreover, want employ. ment in a climate which differs radically from their own.

In the second place, the eight proved arené are on the eastern erd of the extreme northern coast of Sakhalin Jaland. The lakes which pit the entire shore are extremely shallow and not even 1,000-Lon tankers are able to enter. The tankers originally had to anchor a mile off shore and have the oil In

The Egyptian Government gives Sudan, crop accounts continue brought to them in lighters.

ber sa follows C

the ginnings to the end of Decers-conflicting, but there is reason to 1927, however, a 4-inch pipe line! believe that damage has been done Bakel 1,773,345 cantars against by worms in the Gezirs.

along the sea line to the anchorage It is a mile out at sea, proved highly 1,341,298 last month,

doubtful

early whether

erop successful and shipments were in- Other varieties: 3,978,02% cau- estimates will be realized.".

creased. tars against 3,277,095 last inonth. Advices from Bolton speak of the

Scarto: 157,552 contars against dieulty experienced by spinners The company has done well, con- in arranging business at satisfac-sidering the great handicaps im-

121,507 last month.

Total: 5,909,821 cantora againsttery margins. A firmer stand is posed, and Admiral Nakasato re- 4,739,000 last month.

being made, but, owing to weak ports that werk is proceeding with The total supply of Bakels in allers, trade is hampered in its less friction. During 1928 it intend Egypt at the end of the year efforts to maintain a remunerativsed to increase production to 133,000 amounted to 2,140,000 cantara, levél.

tons. Since shipments can be made,

against 2,850,000 last year. The We feel that Sakels and Uppers only from the end of June to the stock. includes "320,000 cantars of should advance with American, andetid of Beptember a large tank cotton, hela by the Government... that Sakels might even advance capacity is required. Tanks now at (Vontinued at foot of next column.) more than American.

Ola Have a capacity of 82,000 tona.

Pacific Gas and Electric Co.. Packard Motor Car (Com) Pennsylvania Bailroad... Petroleum Corp: of America... Phillips Petroleum Radio Corporntica

Ronnolds Tobacco, "B" Shell Union Oil... Standard Gaa & Elec. (Com.) Southern Facife Railway

Standard Oil of New Jersey standard Oil of New York Texca Corporation (Com) Taxas Gulf Sulphur frans-American Corp. Timken Roller Bearing

130 1321

19

78

18) 371 +-'850 354

145 158) 161 201

134 133)

12.891

60 481

400 291

10 59)

77 75

...

80% 77

231 2141 43 4414

***

Transcontinental Air Trans............ Union Carbide Union Pacifà B.B. (Com.) US. Inter. Security Pid.

U.8. Lesther "A"

Realty & Imp, Co. US. Bubber (Pd). Fanadium Corp.

3.9. Stool

་་་

Westinghouse Elec. (Com.) Willys Overland Co. Wright Aeronautical

HEADH

........ 11

105)

FRI., FEB. 15th-

At 9.15 p.m

THE

DCL

ACT

•Distillers Congo

હું

"D. C. L.

MALT EXTRACT

WITH

COD LIVER OIL

Is made from the finest selected Barley and malted with the greatest care on the Company's "own pre- mises by the most scientific methods of manufacture.} THE DISTILLERS COMPANY, LTD.

EDINBURGH.

PRICK-Per 1 b. Jar... $1.00 Per 2 lb. Jar...81.80

SOLÉ AGENTS.----

+

GANDE, PRICE & CO., LTD.,

"ST. GEORGE'S BUILDING, 2, ICE HOUSE STREET.

Tel. Central No. 135.

Have a glass of

MACDONA PLAYERS ASAHI BEER

PRESENT THE

PHILANDERER

By BERNARD SHAW,

Booking Tow. Open at Moutrie's and Theatre.

it cheers invigorates

ASAH

Hong Kong.

SA 54

SUNDAY TO TUESDAY The

EMDEN

AT THE QUEEN'S

Sole Agents

MITSUI BUSSAN KAISHA LTD.

BONG KONG,"

1818 1781

Mult. 112

31

159) 1491 201

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