1929-05-08 — Page 9

THE FOUR LEADING BEERS ON THE

MARKET

SUIT ALL PALATES.

THE HONG KONG DAILY PRESS, WEDNESDAY, MAY 8, 1929.

Money and Markets

HONG KONG MARKET

- REPORTS.

Quotations at yesterday's local market for rice and other foodstuf were as follow

Per picul $6.06

MUNCHENER BURGER-BRAU,

DARK.

PILSENER SUPERIOR QUALITY.

LIGHT.

Rice."

TUBORG FABRIKKER.

DINNER BEER.

Kwni Tsz...

Hung Ling Ts. Unglutinous 6.76 Green Double Claymores

7.30

LOWENBRAU

**LION BRAND."

DARK.

Hung Shou Unglutinous

Green Seal, Braken

0.08 3.61 7.49

We guarantee these brands to be of first class quality and prices compare favourably with inferior brands.

A trial is solicited.

SOLE AGENTS :-

GANDE, PRICE & CO., LTD. ·

TEL. C. 135.

RA SPEC

HIGHLANDVE

And fully meton

ES MARC LASGOW

Hora Kosa

MARCHANT'S

GOLD LABEL EXTRA SPECIAL

Old Highland

Whisky.

Distilled and bottled in Scotland and "guaranteed fully matured in wood.

A Whisky of quality at a moderate price.

Obtainable at all leading ' Clubs, Hotels and Stores and from the

Bole Agents:

T. E. GRIFFITH, LTD. TEL. 3517.

DIRECTORY

OF

11

THE FAR EAST

1929

NOW READY

Classified List of

and

Manufacturers Merchants in Japan, China, Straits, Etc.

Hong Kong Daily Press Office,

Red Seal, Glutinous *** No. 1 Glutinous, granulated 5.91 -2 Glutinous, granulated 5.73 Blue Grape .......

7.02

5.63

6.50

Black Seal, Pokmei..... Green Seal, No. 3 Green Seal, No. 1 granulated 5.68 Blue Seal, Broken......

Surar

0.03

Miscellaneous.

No. 18 Coarse granulated

sugar

8. 6.63

No. 4 Coarse granulated

7.38

Soy Benn

7.00

Green Benn

Black Bean

8.50 6.60

Awabi, No 1 Kumahan

137.0x

Camellia-nut Oil

Dried Shrimpos

20.40 84.00 $7.00

Green Flax

CHINA FIRE INSURANCE CO., LTD.

1925 PROFIT OF 2037,000.

CANTON TRADE NOTES.

The rice market has been, also innetive and transactions have been few.

Straw hats made in Awangtung are neither very smart or of the test material. They have, however, the merit of cheapness and are be ing exported in large number to Pakhei and other country districts.

Business at Wuchow has been bad for a long time past, but now things are going from bad to worse. Shiprrents of goods to Canton and Hong Kong have almost ceased and the exchange, rate for the Hong Kong dollar is $3.93 Kwangsi.

U.S. BANKING MERGER. NATIONAL CITY BANK AND FARMERS' LOAN & TRUST COMPANY.

IMPORTANT CHANGES.

The Sub-Manager of the local branch of the National City Bank of New York has kindly forwarded us the following particulars of the recently announced application of the National City Bank and the Farmers Loan & Trust Company.

Charles E. Mitchell, President of The National City Bank of New York, and James H. Perkins, Pre- sident of The Farmers' Loan & Trust Company, announced yester day (April 1) that the Boards of Directors of the two institutions had agreed on terms for the affilia tion of the Trust Company with the Bank. Meetings of the stock holders of both institutions will be held in the near future to approve the transaction.

A very dull market for edible

The shares of the capital stock of marine products has been experi red though large quantities of Japanese goods have been imported the Trust Company will be placed since the end of the Boycott. Then the Hands of Trustees to be held dullaess is attributed to the high for the benefit of the share-holders manner similar to that in which exchange rate and to a short de of The National City Bank in a mand.

the capital stock of The National City Company, which is the Bank's security affiliate, is now held.

During the week ending the 29th ult. over 66 bales of raw silk and 724 bales of ravelled silk were ex- ported. Prices of Japanese silk in foreign countries have slightly in creased on account of shortage of stocks and prices of Chinese silk have remained firm.

Demand for building materials of all kinds, especially steel frames Canton,, and are in keen demand likely to be for a long time as the rebuilding of roads, houses and business premises continue to pro- The amount of gress rapidly.

The Directors of the China Fire Insurance Company, Ltd., will pre-cement produced by the local fac. sent the following report at the tory is nothing like enough for pre Goth ordinary yearly meeting which sent requirements. is to be held at the Company's office as 1.13 am on Friday, May 24. 1927 Account:-After payment of the interim dividend of $2 per share passed at the last annual necting, there remains a balance of 8470,606.10 as per annexed

statement.

The Board recommends that a faal dividend of $89 per share and a bonus dividend of 86 per 20.000 shares be share од paid to shareholders, absorbing $300,000, and that the balance be carried forward to Under. writing Suspense Account to

Silk filintures in the country dis tricts have done badly out of the first crop this year. It was ex- pected that the drought would at least benefit this industry, but its unexampled severity affected the supply of mulberry leaves, whose price went up to $3 a picul. The immature cocoons were discarded and the crop short. The financial crisis has had a most unfortunate efect on the industry and if not settled is likely to cause failure of the second crop.

The name of the Trust Company will probably be changed to City It will devote itself entirely to the Bank Farmers Trust Company" administration of trusts and will take over, as far as practicable, the trust business of The National City Bank.

The Banking Business,”

On the other hand, the commer- cial banking business of the Trust Company will be taken over by the

Bank.

The stockholders of the Trust Company will receive, when all completed. five shares of stock of necessary corporate steps have been The National City Bank for each share of stock in the Trust Com- crease of the capital of the Bank pany. This will result in an in- from $100,000,000 to $110,000,000. It is planned that the Trust Company will have a capital of $10,000,000 and a surplus of the same amount.

In addition to the existing en dorsement on the stock certificates of the Bank, which evidences the beneficial interest of the share- holders of the Bank in the stock of The National City Company,

there will be a second and similar endorsement to evidence the bene ficial interest of such shareholders

close the account for the year CANTON STOCK EXCHANGE the stock of the affiliated trust

1927.

1998 Account:-The balance of work- ing account on December 31, 1925, was $967,311.24 as 'per an-1 nexed statement.

CLOSING QUOTATIONS.

CANTON, May 8

83.80 Water Works ........ Eicetric Light & Power ... Canton-Hankow Railway ... The Sun Company..... Sincere. Company ........ Nanyang Bros. Tob. Co. ... Canton Tramways

Steam China Merchants' Navigation Co.

The board recommends that an interim dividend of $3 per share be paid to shareholders, absorbing 360,000, and that the remainder be carried forward. Since the last general meeting, Mr. Arthur Macgowan, Mr. T. G. Weall and Mr. C. G. S. Mackie sigard from the board, and Mr. John A. Plummer, Mr. J. P. War-Central Bank of China ...... ren and Mr. L. J. Davies have joined the board

In accordance with the Articles of Association, Mr. J. Owen Hughes and Mr. W. H. Bell retire, but offer themselves for re-election.

Messrs. Lowe, Bingham & Mat- thews and Messrs. Linstead & Davis, Chartered Accountants, retire, but offer themselves for re-election.

RUBBER.

OPINION "NOT VERY

company...

Proceedings to affect these results will be taken ander Federal and State Laws and full details will be given in the notices which will he sent out to the stockholders of both institutions.

4.40 0.49

Present Stad: New Building. 91.00 118.00 Charles E. Mitchell will become 4.60 Chairman of the Trust Company, 2.60 and James H. Perkins will cour tinne as its President and will 19.00 become a Director of "the Bank. 48.00 All of the present officers and entire crganization of the Trust Company will be retained, and will be supple- mented by the personnel of the Trust Department of the Bank. The new building, which the Trust Company is about to erect to replace its present building on the west side of South William Street, be- tween Exchange Place and Beaver Street, immediately to the south of the Head Office of the Bank at 55 Wall Street, will be designed to meet the special needs of an organi- ling of trust business.

Mr. Mitchell also announced that was firm at the close last night with Spot 11d, July/September the Board of Directors of the Bank 11ld, October/December 11d., had approved the following ad- January/March 123d.

OPTIMISTIC."

Messrs. Pentreath & Co. have kindly forwarded us the following letter dated April 10 from Messrs. Hornby Hemelryk & Co. of Liver I'pool.

The market was rather dull and

UNION ASSURANCE SOCIETY { jonctive during the past week, but zation devoted solely to the hand-

OF CANTON, LTD..

1997 FINAL DIVIDEND 168.; 1928 INTERIM 245.

The

Innistrative changes in the Bank Shipments from Malaya during and The National City Company. March, which amounted to 48,448 which will be effected at the next directors of the Union tons and which information was re-regular meeting of their Boards

ceived shortly after the Easter of Directors. Insurance Society of Canton, Ltd.,

"Mr. Mitchell will become Chair- will present the following report at holiday, were considered rather the annual shareholders' meeting, disappointing by the market, as a man of the Bank and of The which will be held at the Society's smaller quantity had been down to National City Company, as well as below 118, but there were ready of the Trust Company, Eric P. office as 11 a.m., on Friday, May 24. 1027 Account:-After payment of buyers at the decline and the price Swenson, Chairman of the Board of the Bank since 1921, will retire the interim dividend of 24s. per quickly recovered again.

The only feature of note has been from that office but will continue as share and the bonus o 20 per

a Director. Gordon S. Rentachler, cent, to contributors passed at the demand for afloat parcels, par- last annual meeting, there reticularly those near New York. As since 1993 a Director and since 1925 mains a balance of £148,020 25 these parcels came into the market, Vice-president and Assistant to they were quickly taken, and there the President, will become President 3d. as per annexed statement.

The board recommends that a

is still a good enquiry, which seems of the Back. Hugh B. Baker, since. final dividend of 166. per share to emanate from Dealers who are 1917 a Vice-president of the National tv Company, will become Presi- on 135,000 shares be paid to short on the New York market.

Reports of a large rate of con- dent of that Company and will be- shareholders, absorbing £102,000, and that the balance be carried aumption in March were in circu- come a Director of the Bank. The By-Law changes necessary to invest forward to Underwriting Sus-lation yesterday and caused. pense Account to close the ac slight improvement in prices. Pre- the office of Chairman with execu- liminary estimates speak of a tive powers will be made in the count for the year 1927. 1928 Account:-The balance of work March consumption of between three afliated institutions."

ing account on December 31, 48,000 and 49,000 tons, which, if considerable 1928, was £435,179 198. 5d. as correct, would mean

expansion and would necessitate a per annexed statement.

consumption the of The board recommends that revision an interim dividend of $ts, por estimates for this year. ahare be paid to shareholders, In spite of these favourable re absorbing £182,000, that a bonus ports and the fact that the Ameri- can, consumption for the first quar of 20 per cent. be. paid to contributors, absorting aboutter will almost certainly constitute £20,000 and that the remainder a record, the general opinion in the inarket is not very optimistic as to be carried forward "Since the last general meeting, the near future, as the summer Mr. Arthur Macgowan, Mr. T. G. months will probably bring a fall- Weall and Mr. C. G. B. Mackie ing off in consumption, and there resigned from the board, and Mr. seems no prospect of a reduction of John A Plummer, Mr. J. P. War- supplies from the Far East. rea and Mr. L J. Davies have join- ed the board.

The London stocks show an in- crease of 857 tons, and Liverpool an increase of 9 tons, on the week. Our New York correspondents cable that record March consump tion figures are expected shortly. Tyre Manufacturers are working at

In accordance with the articles ol association, Mr. J. Owen Hughes and Mr. W. HL Bell retire, but offer themselves for re-election.

Mesara Love, Bingham & Mat thews and Messrs. Linstead & Davia, high speed, and continuation of fine weather should bring improved Chartered Accountants, retire; but offer themselves for re-election.

turnover.

EXCHANGE RATES. TeRITISH WIRELESS SERVICE]

Paris

RUGBY, May 6.

Brussels Amsterdam ... Berlin Copenhagen Vienna Helsingfors Lisbon Bucharest .... Buenos Aires .............. Shanghai Yokohama New York Geneva

194.13 34.94) 12.067/8

WILLIAM FOX

Prevents

LADIES MUST DRESS

with

A delightful story which goes to prove that a beautiful girl- mast dress her best, not only to win, but' to hold the man she loves!

VIRGINIA VALLI, LAWRENCE GRAY

AT THE

FINAL SHOWINGS TO-DAY

QUEEN'S A 230, 5.10, 7.15 & 9.20.

A.lavish picturization of the famous Broadway stage success !

THE

CHORUS LADY CHORUS

With

MARGARET LIVINGSTON

ALSO

WONG WON SANG

AT THE

CHINESE ILLUSIONIST

FINAL SHOWINGS TO-DAY

WORLD At 5.15 & 9:20.

2.80 & 7.15-Chinese Picture, The Girl General" Pt. I.

BASED ON THE FAMOUS STAGE SUCCESS ↑

AGNES AYRES

in

The AWFUL TRUTH

From Ina Claire's great starring success by Arthur Richman

Released by

PRODUCERS - DISTRIBUTING - CORPORATION",

AT THE

STAR

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

FINAL SHOWINGS TO-DAY

Mar 7, 1929. HK. Banks.",

-$1210 bay. Do London...2132) nem,

.....£19 buy. Chartered Banks Marcantile Banke, A. &B...£33 nom, 0...£ist nom. Do

P. & O. Banks

1890 buy. East Asia Baak...............$994 nem. Canton Insurances...... Union Inrurances1363 kuy. North China Ins... The 160 buy. Unina Underwriter...$2:20 bay, 2.30 sel. Yangtaze Insurances....... 850 nom Ohins Fire Insurances....$295 buy. Fire Ins.....3765 nom Douglases $36 sel HB

Steamboats HE. Tags Indo-Chinas (Prod.) ....$43

De." (De) $70 nem. Shell Transports. 18/ nom. Umon Waterboats.........$22 nom. Benguets

buy,

buy,

Kailan Mining Admin...61-nom.

Tia, 14 nom. Langkats(combined).....

TE. 7} nom. Do (mingio)ACE

T. 2.90 sel. 8hs. Explorations

Thom. Bhanghai Loans

„16,65 nom Haube

17/8 nota.

..$19]· nazad. ......$38 seli

At 5.30 & 9.20.

Chica Providents.........$4 sel, & ;

Hongkow ******* New Engineerings Shanghai Docks

„Tis. 178 nom. .....Tis. at buy..

........... 11. 125 nom.

121

Ewo Cations Tls. 124 bay, Oriental Cottons.......Th. 2 bay, S'hai. Cottons (old)......Tis, 7 wal

· (new). .Th. 33 пото, Do.

S. Hotels.... $83 buy, HK EK. Lands 162 bay. Shanghai Lande

„The 148 uom.

Humphreys Estates......$14.35 nom. ELK. Reallies K.K. Tramwaye

....38.15 com

$18.50 bay.. 182

sel, 18,601,70.

***...$8.80

Peak Trams (old).... ...#12) bay. ·

Bo. (now) Star Ferries.. China Lághts

Do.

........... Jóði buy,, 67 gel. $13 ex rghts bay. ($180 cum, rights ez diy, bay.

D3. Eights.374 buy.

H.K. Mlectries Micso Electrics

Bandakan Lights

Telephones......

Ohin

buy. $52

$1619m.

17 buy. BaseEle 14 bay.

Singapore Tractions......11/6 nom...

Do (Pro) 16/8 buy. China Bugars1 nom. Malabon Sugars.......$37 bay. Canton: Ices $1.80

Do.

Do.

8.80 sel Cements (combined) 18.10 bar wel (old).$7 (now)......$1.40 nm. FK Bopem su363 buy, United Sabertos 15 bay. Dairy Farma..... . ...$29j tel Watsons

བ-་་-་ཏཿ་་་འ-

Der

101

33.15) 375

20.40)

28.201

Tronoh Mines

***

34.55

B.K. & K. Wharfe

193

EK. & W. Docke

108

817

47 5/16

2/52

Prague

1/10 3/22

Madrid

4.83 9/32

Athens

25.191

Bio

Milan Stockholm ***

92.60

18.15

Hong Long,

Osloniz (Continued at foot of neat column).

18.19

Silver (spot)

25/10

Silver (forward)

Bombay

357/04

A Wings...

Wa. Powalls.................

H.K: Amusements:

$18.40 Rom. .80 eta, bay.

nel.

$18 buy.

$11.80 bay. 33.65 mom. $3/230ml.

H.K. Constructions 1 wal.

1/0 20/32gbal 1/11L

Imita: 04 Bende..691% buy. B. Gort Load 5% premi buy. buy-buyers; sel-seller's; sa-14100

nam-nominai.