1929-03-28 — Page 9

Money and Markets

HONG KONG MARKET REPORTS.

Quotations for rice and other foodstuffs as yesterday's local mar- ket were as follows:-

Tak Sam Dor

Ching A Tao

Red Seal, Broken

Red Seal Glutinous...

Red Seal, No. 1 Broken ...

Rice.

Hung Sam Dor

87.23 7.34

Black Seat, No. 3, Broken

4.04

Hung Kum On. Unglutinous

7.01

Red Double Peaches

........

Red Flying Fish

8.01 7.97

.....7.15

5.00 7.62

Bed Seal, Glutinous, Broken

8. 12

Blue Grape......

7.89

Tied Seal, No. 2 Broken

5.55

Green Seal, No. 3

8,38

No. 1 Broken, White

8.24

Red Lion

Green Seal, White.

8.22 7.02

Miscellaneous.

Gianulated Sugar, Coarse

No. 24

Dried Persiyon,

Mon

8.40.

* 8,33 Big

17.00 450.00

Dried Mushroom, Mokco.. Lard

Camellin-nut Oil

Cocof-nut Oil

Sago

Lotus Seeds

28.50 22.00

$2.00

10.90

30.00

CANTON COTTON YARN MARKET.

As already reported the price of cotton yarn has increased owing to the high rate of exchange for Hong Kong money. But according to u telegram received on Tuesday from Shanghai, the prices have fallen there following the report of the Tsinan settlement: At present, the prices are variable, but in a few days, there will be fixed prices.

The latest quotations were follows:-

No. 42 Five Sons

Butterfly

Tramenr Shepherd

9738

680

для

SHANGHAI MARKET

REPORT.

PIECE GOODS MARKET AS POLITICAL BAROMETER.

STARTLING ADVANCES IN

METALS.

Shanghai, March 23.-It has

THE HONG KONG DAILY PRESS. THURSDAY, MARCH 28, 1929.

H.K & WHAMPOA

·DOCK CO., LTD.

DOCK FOR LARGEST PACIFIC LINERS.

*** STAGNANT STATE OF

SHIPPING.

At yesterday's annual meeting of shareholders of the Hong Kong & Whampoa Dock Co., Ltd., the Chairman of Directors (Mr. B. D. F. Beith) said that it had been.de. cided to enlarge the Company's

GRAINS..

CROP PROSPECTS.

Messrs Pentreath & Co. have handed us the following letter from Messrs. Hornby, Hemelryk & Co., dated Febuary 27,

The wheat markets have been very quiet during the past week, and values have latterly declined sharp

more favourable weather on advices from the South-West, a lack of export enquiries, and a poor cash demand.

Canada shows more desire to sell. but there is still a certain amount of apathy. The United States, al- though out of parity, shows more inclination to And a market now rather Winter Wheat belt

TWO WIVES WAGE WAR,

CHINESE EX-PRESIDENT IN

TROUBLE.

Peping (UP)-A battle royalj between Wife No 1 and Wife No. 2 of Tao Kun. former Pre- sident of the Chinese Republic, has been given considerable prominence Chinese press is to be believed, it in the Chinese newspapers. If the is a case of a loyal wife matched against a flighty concubine, which the loyal wife has thus far come off a poor second.

almost invariably been the case in No. 1 Dock at Kowloon so as to that the weather conditions in the lished in old Peking.

the past that the Piece Goods market in China was about the best political barometer possible. It, therefore, the present excellent tone and continued demand in this market is any criterion by which a be formed, correct judgment can the "present political disturbances should blow over. This, of course, remains to be seen but should War in earnest break out, then there is no doubt that the present excellent tone in the local markets will im- mediately fall to exist. Silk bas been quiet during the week under slight decline in review with a prices. Bears and Bulls have been extremely active on the local Cat ton Exchange and in the Metals market some startling advances in market sites have made themselves

felt.

Piece Goods. "The Piece Goods market is hold- ing its own and there is little sign of any nervous feeling. The tone, if anything is brighter than the previous week.

take the largest liners on the Paci. fie trade. He hoped that the ter.better, minal trade of the port-with its concurrent work for the company would improve, but that depended largely on the political situation.

Supporting Mr. B. D. F. Beith were: Mr. Allan Cameron, Sir Hobert Ho Tung. Messrs. J. P. Warren, W. H. Bell, and A. H. White (Directors), R. M. Dyer (Chief Manager), and E. L. Horie (Secretary).

present

were:-

Shareholders Messus. Kelly Sayce, Lo Koen Hang, John Arnold (representing Hong Kong, Canton & Macao S. Co.) M. Fernandez, P. Tester, Shum Hip Tong, Chan Siu

Ezra Abraham, and F. X. Ribeiro.

CHAIRMAN'S SPEECH.

The Chairman addressing the meeting said: Before commencing For Black Italians, a very satising I would like to say on behalf

the ordinary business, of the mect factory demand. Orders for these of my colleagues how much we de goods seem to be mainly for Chin-plore the death of the late M. H kiang. Ningpo. Hankow, and F. White. He had served on this Changsha. In Greys there was a board for nearly thirty years and better tone and the average rise of had on various occasions acted as 11 mace include several individual your chairman, As representative improvements of over two mace and of one of the firms which founded Ningpe was again the chief eup- this company over sixty years ago, he always took the greatest in terest in the conduct of its affairs and by his passing we have lost a wise counsellor and a good friend.

porter.

For Whites, the River ports seemed to be very keen buyers particularly Hankow and Chang- shahut apart from an improve ment in clearances for Tientsin. there was no indication of revival in demand from that port.

Kungping Report. "Bpot

position continues healthy and Spring Fancies begin Despite move, more freely. rumours from Nanking; demand and

The

from Yangtade generally Changsha in particular, is con- "sistent and limits accompanying orders are a trifle more liberal. Tientsin and the North are taking

Happiness

680

No. 33 Pagoda

640

Double Horses

Tin Koen...

640

Pine Tree and Deer

550

Sheung Hee

640

No. 90 Golden City

364

Globe.....

330

Good Harvest ....

340

to

Fui Sing

340

Double Horses

340

Tin Koen.

330

Sheung Cheungg

340

Ng Fook

330

Yan Chung

335

330

335

Po Yee

330

Three Stars

330

No. 16 Globe

320

Foo Kwai

310

Yan Chung

310

"Na. 19 Golden City

298

Peacock

093

Foo Kwai

298

Poo Yee

298

Tracer

295

Pretty Damsel

D$8

Acroplane

295

Tak Lee

203

No. 10 Sailing Vess

255

Golden City

283

Peacock

Lotus and. Bec

Double Lions

275

Five Lions

275

250

200

250

Yan Chang

Txi Fat

Tak Lee

273""

-Excellent rope- ere,

No. 6 Lion......

Lion, the second

210

It is a matter for regret that the working for the past year does not show such a good result as the pre. vious one. This is wholly attributed to the very stagnant state of ship. ping in Hong Kong during that period which seriously affected our turnover, and any new construction we undertook was of a small and To- not very profitable nature. wards the end of the year, things took a turn for the better and this alight improvement seems so far aave been maintained and we can only hope that it will remain so

The period through which your a not unexpected breather while company is now passing is one of they distribute the liberal ship considerable, anxiety and the un ments received since China New settled state of China's internal Year, but demand is not lacking troubles is the cause of a very de- and för White Shirtings in parti-pressing influence on trade general. cular their requirements are still ly and we can only express our hope unsatisfied. There has been more that before so very long we shall disposition on the part of dealers sce a united in place of a disunited

to discuss forward. bookings of Blacks and 'Fancies.

Stk.

A very quiet market was ex- perienced in Silk during the past week. A slight decline in prices is recorded and there is little inquiry from Home markets.

Cotton.

In their report on Chian Cotton and Yarn, Messrs. 3. Spunt & Co. write:

China Cotton.

China.

Improvements to No. 1 Dock. You will be interested to bear that we have decided to widen the entrance and lengthen our present No. 1 Dock at Kowloon to enable it to accommodate the largest liners at present built or building for the Pacific trade which we have a rea sonable hope of docking in the fature. This will cost a little over $500,000 and will take about eigh teen months to complete. The de cision to do this was not arrived without the most rareful_con sideration by your Board, and we the opinion

While our market throughout the past week showed no pronounced activity, prices ruled without any came unanimously to 200

undue fluctuations in a steady direction and at times displayed firmness whenever any slight de-

grades.

CANTON STOCK EXCHANGE.

CLOSING QUOTATIONS.".

CANTON, March 23:

*****83,00 Electric Power & Light 4.60

Water Works

Canton-Hankow Railway The Sun Company Sincero Company Nanyang Bros. Tab. Co. Canton Tramways China Merchants' Steam Nav.

Company

that it was absolutely vital and essential in order to protect the potential earning power of the com.

are

wheat, as she is meeting with a con- Australia does not press her siderable ex-European demand.

India reports that more rain is. wanted.

The Pinte continues to offer freely, and large quantities have been sold both to this country and to the Continum.

Shipments: 2,564.000 qrs, against 2,350,000 qrs, last week.

On Pasange: 5,743,000 qrs. against 5,161,000 grs. last week.

.

The world's total visible stocks of Wheat and Flotr remain very large, but there was a decrease last month, compared with an increase in January 1998,

At present Wheat is very dull, further unless some bullish news and it looks as if prices will ense comes along. We recommend, how ever, purchases in weak markets on account of the great lack of mois ture in the Canadian seed-bed at present.

The Visible Supply in the United States of:-

Wheat: 131,197,000 bushels, last week 153,006,000: last year 95,412,000.

Corm: 32,485,000 bushels, last week 3,603,000; last year 37,036,000, Cats: 15,301,000 bushels, last week 13,275,000; Inst year 20,700,000.

of

The Visible Supply in Canada Wheat: 84,164,000 bushels, last. week 82,574,000; last year 75,209,000.

Qats: 7,631,000 bushels, last week 7,464,000; last year 2,990,000.

According to advices from the Argentine, the Corn crop is un- usualy early this year, maturity having been hastened by the warm weather. The threching of Wheat. Linseed and Onts is finished in the Northern areas and is proceeding actively elsewhere.

One authority estimates a surplus Argentine Corn erop of about 24 million quarters, but the estimate is only tentative, as the crop is said to be irregular. A surplus of 24 millions would be sore & million quarters below the surplus obtained from the last crop and would be much less than was expected some time ago,

Argentine Stocks: Wheat 320,000 tons, Corn 60,000 tons, Oste 30,000 toas, and Linseed 145,000 tons,

We have received the following cables from Chicago:

Wheat: Apprehension continues regarding Winter Wheat. We are still of the opinion that the lack of moisture in Canada makes for great bullish potensialities. the technical position is greatly im- We believe proved, and we prefer purchases or declines.

BRITISH AERO ENGINES FOR SWEDEN.

FOR TROOP-CAREYING PLANES.

10

Tao Kua, it will be recalled. was the most ignorant, of China's presidents, buying his way to office when a corrupt government estab

He had a loyal wife, the Chinese press de clares, who rose with him "from the ranks," and stayed faithfully by him in prosperity and adversity.

'Enter the Concubine. But the concubine, the newspapers declare, ran away from Tsao Kun when he was imprisoned in 1991, while his Number One wife stayed" at his side. Tsao Kun, was releas ed in 1926, and escaped with much of his great fortune to Tientsin, where he has lived since in the foreign concessions, The Chinese papers say that the concubine decid- ed to make up with him after his release, and that he finally left his loyal wife and went to live with her.

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

HE. Banks

Chartered Bankı

MARCH 97, 1929, $1,235 buy.. 1,2 sal 1,24246 4. Do Londe...131 sel

buy. Mercantile Banks. 4. 48.

Do.,"

flat nom... P.&O. Banks. nom.. East Asia Banks .........$90 nom. Capton Insurances...... 1695 buy::

385 Onion Tsurances.....1359 bay..

China Ins, ......Tla, 160 buy, Vagtare Insurances.M. #50

nom Chica Underwriters...$2.20 bay,, 2.60 sel. China Fire Insurances... 1990 cuy

dir. buy. ****....$759 Douglass ......$6 H.K Steamboats HL.K. Togs...40 m Indo-Chinas (Pref.)

****.. nom. Shell Transports.....95!- nem.

Da

(Del.)39 nom. Union Waterboste.........$2) som. Bengueta ..............2 dny, Kailan Mining Admin....69/9 nom. Langkats(combined)..... 14 no (ingle) 44

"The 7 cm.

FE.

ביטום

14

དཔལ་ཅན་ར་བྷིས sal, 25 8.

nom.

BOD. .$7,10 buy. 17/6 'nola

$37.

#41 buy. 4.63 mal

T. 169 nom.

Explorations... 178.3 al. Shanghai Loans Banha Tronoh Mines E.K. & R. Wharfs....$120 sel.

3. & W. Docks. Chias Providents Hengkws........ New Engineerings Shanghai Dooks Ewo Cottons

12.80 wal Hin loyal wife went to call upon Oriental Cotton.........

Tis. nom. money to settle her accounts, but E.K. & S. Heteis. 89.05 buy. 8.30 sei. him at the concubine's house to get 8 hai. Cottons (old)..............Th. 72 nom.

(new)...... Tls, 35 now. the angry concubine ordered her. Lands ..$63 bay. Humphreys Estate......$16 buy. Shanghai Lands TIL. buy.

servants to throw her out of the

house. She did not get her money.

NEW YORK STOCK QUOTATIONS.

New York, March 19. Markot Easy, Business done, 4,938,400 Shares,

Stock

Alleghany Corp.

American Can (Com.) ***

Do.

IP

EK. Beatics B.K. Tramwayi.

Previcas Latest Price. Price

84 ... 34

289 86 122 1201

Allied Chem. & Dre (Com.) American Locomotive (Com.)... 117 1204 American Smelting

118 119 American Tel. & Tel. (Com.)... 2161 214 American Tobacco "B"

... 174, 1723 144 145

30 .... 163) 1697 88 647 ... 547 63

Armour & Co, "&"

ས་

Armour & Co. (IL) 7% 118. Anaconda Copper Andias Copper Atlantic Raining (Com.). Baltimore & Ohio Bank of Montreal Bethlehem Steel (Com) Calumet & Heels Canadian Pacific Railway Campe Corp.

Chrysler.. Consolidated Gas of N,Y. Coty Incorporated Davison Chemical Dry Docks Da Feat de N., EL (Com) For Film "A" General Electric Co. General Ely, Signal (Com.} General Motors.. Gold Dust Goodrich Rubber

Cement

1281 12

984.363 103 2081

634 671

DT B7

2134 244 110 111 ... 106 1071

72 60

843 81

21 20

... 180 185

Ti 4.95 bay. 1117 bay.

buy..

....$8.60 303.

631.

**** $13 but: 183

Poak Trams (old)........$19) buy.

(new)......$6.80 nom.

Bo.

Star Ferries...$67 buy, 88 sel. 693/68 . Chins Light...$13.83 bay, 197/14.10 m. B.K. Electrica................... $59 buy., Macao Electrios Handakan Lights

hina Buses Telephones Singapors Tractious

Do.

571/591/60 s $16/pom. ........$5 nom. *****7.10 nom,

.......Tix. 13 bay.

.11,8 com. (Pre)......16/6 buy.

$1.05.

China Sugars an Malabon Bugars 130 bay. Chaton Ice

પ. Cements (combined)...... f13.55 brg.. 8.70 seL (old)....$7.80 nom. (now)....$1.40 bay.

Do.

Do.

HK, Bopes.7 cm. United Asbestos....$5.

Dairy Farm

Watsona

Der A

Wings

...$201 Bel.

$14 80 ota. ony.. sal.

Crawfords Mackintosh.............

Sincere.

W

Powells

20 nem

...................il boy.

$3.65 nom. H.K. Amusements......25 buy. EX, Constructions... sol. B'que Indar, G. Bonds...694%, sal. H.K. Govt. Loans.........61% prom, bay, 68)

GIF 9 2401 238

.... 105 104

Granby Consolidated Great Western Bugar ... Haygart- International Match,

(Com)... international Nickel (Com.) International Printers Ink. Kelvinator Inter. Products Corp. (Com.)" Hennecott Copper Liggett & Myers, Class "B" Mack Truck

***

Madison Square Garden Mathieson Alkali

...

Missouri Facile (Com.)" Nash Motors

National Dairy

Producta

70% 691

951 90

371 37

1031 103 100 1051 .... 100 199 812 201 .... 108 107

... 1312 1201

821 811 61 BLI ... 1891 1881

195 196

67

-257-157

... 1893 189

***

160

80 70-

77781

$49 500

National Distillers Pfd. Nevada Consolidated Copper... N. Y. Central Railroad Norfolk & Westera The first Armstrong Siddeley Pacific Gas and Electric Co.

North American Aviation Leopard air-cooled radial engine, Packard Motor Car (Com) which is claimed to be the largest Paramount Laky and most advanced of its type in Pennsylvania Railroad... production in the world, was re- Phillips Petroleum cently installed in F

Heinkel Radio Corporation

Reynolds Tobacco, "B"

581 681 across the Baltic Sea for delivery Southern Pacific Railway

... 287 29

1801291 to the Swedish Government.

Standard Gas & Elec. (COL)... 90° 001 The Leopard engine, which has Standard Oil of New Jersey... 53 54 14 cylinders and develops 700 to 750 Standard Oil of New York 424 427 hp at the remarkably low speed Tema Corporation (Com.) 车 of 1,500 revolutions per minute," has

Texas Gulf Sulphur Timten Roller Bearing. been developed for troop and torman Rolan pedo carrying aircraft.

mand became apparent for better pany and to meet modern require machine and flown from Germany ghali Union Oil...

Yaro.

Fluctuations in the yarn market during the past week have been 0.31 nervous and erratic but the ten- 78.00 deney on the whole has been on the 104.00 easy side. In all some 8,000 to

CANTON BEAN MARKET.

Central Bank of China......

Market stendy all round.

Soy Bean, Soy Wong,

Soy, Choy Chu Wong

9.50 9.80

Soy, Dairen

White, Kwang Pak Black, Newchwang Greep, Sunsheng Scarlet, Newchwang Black, Ching Yan

9.30

ments. I think all shareholders will agree with me.

out putting the dock out of action It is hoped to do this work with. any more than is absolutely neces

sary,

Tribute to Staff.

The Accounts, Turning to the recounts you will 4.400,000 bales of local spinnings have notice capital expenditure during 270 een booked for export to Brechnen, the period under review has been Hankow, Kiangse, Canton, Swatow, reduced to a minimum. Work in 57.00 Ningpo and other interior ports connection with the proposed new 46.00 Regarding the future the situation Dock has been entirely suspended

is entirely dependent on political in the meantime.

I feel sure all shareholders will On the other affairs.

side of the balance sheet we have support me, in offenug word of Metals.

added to our reserve fund the encouragement to our energetic Prices on metala have advanced amounts previously standing at the Chief Manager and his hard work- considerably during the past week. credit of marine insurance fund and ing Staff, both European and Chi Lead advanced from £24.6 to £30 in premium on new shares. This will eae, in the efforts they never cense 9.65 one day an almost unprecedented make one figure for our reserve to exert in the interests of the 8.35 rise and this is said to be due to account which, after the transfer as company and to express our hope 11.60 heavy speculative buying in Lon- shown in the accounts, of which the that as a result of their labours it 14.56 don. Copper showed an advance substantial.sum of $30,268.38 is for will not be long before they see the 8.80 of £7 on one day and Spelter about depreciation of our plant and build tide has turned.

£3. Local dealers are doing ex-

inga, still leaves this fund at It is the intention of $3,000,000. cordingly well as a result of this your directors in the future if neces situation. They have adequate sary to utilise this account for fur. stocks and as Lead, Copper, and ther depreciation. Spelter are in constant daily de A great deal of your property mand, the increase demanded has only stands in our books at & rsk.. to be paid by local buyers. There nominal figure but it has been is little doing in Iron or Steel. Dealers report that such a sharp advance as set out above iz beyond recollection.

EXCHANGE RATES.

"[BRITISH WIRELESS BELVICZ]

RUGBY, March 26, Paris

124.173 New York ................ 4.63} Brussels

Geneva

Amsterdam

Milan

34.04

23.22

12.111

$2.95

Berlin

90,453

Stockholm

18.17

'Copenhagen

18.21

Bucharest

8141

Oslo

18.20

Bio

Vienun

34.525 164

Buenos AircE Bombay

Shanghai

597/32 47 5/16 1/5 31/32 2/41

31.975

108 376

Yokohama

Silver (spot) come

Silver (forward)"

Progue

Helsingforsqui 133

Madrid

Lisbon....

Athens...

(Continued at foot of next column.)

1/10 1/18

*26*1/16.

I now beg to propose the adop- tion of the Report and Accounts, and when this has been seconded, I shall be pleased to answer to the best al my ability any questions which ebareholders may like to

Other Eusiness.

thought desirable to depreciate Sir Robert Ho Tung and Mr. W. some of our newer plant and build H. Bell were re-elected to the Board ings as well as to entirely write off of Directors on the motion of Mr. sundry articles of a perishable J. Arnold, seconded by Mr. Kelly nature. Your properties have been Boyce. kept in good order during the year. The appointments to the Board and the same has been paid out of of Messrs. B. D. F. Beith, J. P. Warren and A. H. White were con-

revenue.

I have not much more to add firmed on the proposition of Mr. P. except to hope that the terminal Tester, seconded by Mr. J. Ulderup. trade of the port which is reflected: The auditors, Hessri, Lowe, by the normal earnings of this com. Bingham & Matthews, and Messrs. pany will improve and that before Percy Smith, Seth & Fleming, were very long we will again be pa are elected on the proposition of Mr. dividend paying basis.

Abraham, seconded by Mr. F. (Continued on next Column). I. V. Ribeiro.

1.

75 751

63 83

... 218 2187 4. 223 210

-Mut. 48 48 02

Vaien Pacific R.E. (Com.) U.B. Inter, Security Pfd." U.S. Leather A U.B. Realty & Imp. Co. C.8. Stool Vacuum On Vanadium Corp. Westinghouse Bloc (Com.). 159 158 Willys Overland Co.

... 275 270 Wright Aeronautical

ST.

*188 189 129; 180 ... 106 1001

... 301 30

buy-buyers; sel-sellers; sa-zales;

nom.-nomina);

ISTARI

THEATRE

RETURN SEASON

OF THE

BANVARD

MUSICAL COMEDY COMPANY

SATURDAY

& SUNDAY MARCH 50th & 31st THE BIG LONDON AND NEW YORK SUCCESS

"LIDO LADY"

FIRST TIME IN HONG KONG Nao. & Tues" By REQUEST"

April 1 & 2.

Wednes

Apr 3

•

THE NEW BATUZ

"CLOWNS."

IN CLOVER"

Booking Now Open at Moutries and Theatre, Prices: $4, '83, $2 & #1.

SUNDAY and MONDAY

hist

Mi

DANE and

ARTHUR

Mor

"AT THE

DETECTIVES

A QUEEN'S

SERVICE TO READERS,"

HONG KONG DAILY TPRESS, LTD., and the HONG KONG WEEKLY PRESS, through their London Office, at 21, Bride Lane FLEET STREET, EC. 4., are prepared to give Subscribers and Visitors advice accommodation available, regarding motoring facilities, muitable shopping

centres, etc.

If, when at home, they will call or telephone to the above address, they will receive the utmost assistance and the latest available information on all sub- jects of enquiry will be placed at their disposal

STROHMENGER PIANOS

(MADE IN ENGLAND ALWAYS)

USED IN

THE PENINSULA HOTEL

AND SUPPLIED TO

THE BIBBY STEAMSHIP CO.

THE ORIENT STEAM NAVIGATION CO. THE P. & O. STEAM NAVIGATION CO..

SOLE AGENTS

ETC., ETC.

TRADE

xx HONG KONG

0

THE ANDERSON MUSIC.

CO., LTD.

ST. GEORGE'S BUILDING, ICE HOUSE STREET.

Telephone: No. 1822. Telegraphic Address: “ MUSIC."

LAMOI

THE POPULAR

PILSENER

ST. LAMOI

BEER

PILSENER

WITH A REPUTATION FOR UNIVERSAL SATISFACTION.

ŐBTAINABLE EVERYWHERE

DISTRIBUTORS.-

RUTTONJEE & SON, 15, QUEEN'S ROAD CENTRAL

Shanghai, BingAPORE & WETHAIWEL