1929-06-20 — Page 9

Money and Markets

HONG KONG MARKET

REPORTS.

Yesterday's quotations for rice and other foodstuffs were as follow:

Rice.

Common White

Long Unglutinous

Reddish Cargo Rice...

Per picul. $7.32-0.00 6.80-7.96

6.18 3.29

Coarse granulated sugar 88.37-7.36

White Bran

Miscellaneous.

Brown sugar, Java

Camellia-nut oil

Green Flax

White Bean

Soy Bean....

Grapes, California ......

|

...

CANTON TRADE NOTES.

Canton raw silk market bas been exceedingly dull recently and on Monday only twenty hales of No. 13/15 Best I were sold. The price was 2010.

According to telegraphic advice from Shanghai, transactions in cotton yarns are small and prices have fallen. The Canton Yarn market still remains dull and prices of yarn of Nos. 20, 39 and 49 have dropped by two to three dollars

•

*

*

Merchants in Hong Kong are in receipt of telegraphs.to the effect

THE HONG KONG DAILY PRESS, THURSDAY, JUNE 20, 1929.

COLONY'S FINANCES FOR 1928.

"AN INCREASE IN REVENUE.

EXPENDITURE $952,000. BELOW

ESTIMATE.

The total revenue for the year amounted to $24,968,309 being 84,533,000 more than the estimate and $3,623,863 more, than the re venue in 1937.

Compared with that year there were increases under all heade except Licences and Internal Revenue, the most notable being an increase. of $1,002.273 and $1,401,553 resuectively in Miscellaneous Receipts and Landt, Sales.

-The principal heads showing excess over the estimates were as follows:-

Excess

(a) Licences and internal

revenue at

that merchants in Tsingtao have (b) Fees of Court, etc. ... struck as a protest against an nd-(e) Post Office

ditional tax of 90 per cent, on pivec | (d) Kowloon-Canton Rail-

3.60

15.90

£0.00

7.60

3.50 17.00

ant to abolish the new tax although the merchants have suspended busi ness pending a settlement.

.goods. The authorities are reluct

CANTON MARKET REPORTS.dropped. The

Quotations for cotton yara, rice and foodstuffs at the Canton market on Tuesday were as follow

Cotton Tarn.

No. 10.

No, 12.

No. 201.

No. 32%.

Rice.

Common White, An-

nam

Common White, No.

3

Per Brie 8220 to 8237 8242 to 8257 $261 to 8282 $364 to 8372

Per nicul.

80.50 to $10.14

89.00 to 810.03

Broken, Annam .... 83.90 to 33.72 Broken Siam $5.00 to R· 6.52 Long Unglutinous,

Annam

............. 88.72 10 8 9.00 Beddish Cargo Rice 88.10 to 8 8.58 White Bram Anam 83.36 to 8 2.42

Sugar.

Per Picul.

Granulated, No. 4'ecarse..

$0.16

Granulated, No. 3 coarse..

75

White, Walchow

9.30

Sugar, Candy, Walchow

10.50

Brown, Poklo

7.40

Brown, Namkong

10.00

Poultry.

Pullet

Hen

Cock

Duck

Goose

Bitter Squash

Per picut. 981.50 to $109,00 885.70 to $ 79.30 877.50 to 8100.50 834.00 to $ 84.00 850.00 to $ 61.00

Frults.

...

Per picul. $19.30 to 323.50 84.60 to $14.40 $ 4.70

Orange

Lychee

Pench

Vegetables.

Hairy Squash

Per Picul. 80.85

1.30

Snake Gourd

1.90

Cucumber

.93

Long Beag

1:30

Sweetish Bamboo Shoots

4.80

Potato marital

2.20

Y&m

6.50 4.00 2.80

:

Water Lily Root Taro

CLOSING QUOTATIONS...

CANTON, June 18." $3.90

4.30

..49

∙of

way....

(e) Rent of Government.

properties, etc.

(E) Interest ....

317,790 79,605

.. 151,918

101,800

84,394

170,515

(g) Miscellaneous receipts 2,994,850 1,485.238

It should be noted that (g) in- cludes a sum of $1,903,359, which was recovered from the funds of the Public Works Loan (1997) on ac count of expenditure on loan works. during the years 1992-1990.

Prices of Canton canvas have (5) Land, sales

сов current superior canvas is 34 to 42 cents per yard while that of inferior quality about 23 cents a yard. During the yene, the canvas industry has been bit by the importation of foreign canvas from England and Japan. The native variety is, however, ex- ported to Chinese" overseas in large quantities.

The poultry market in "Canton has become more active" and prices are fr. The pork market is also nctive and the fruit market has im- proved, owing to a demand for canned fruits The groundnut oil market remains slack and so does the groundnut market. Recently, prices of beef have risen to thirty. one taels per picul as compared with the normal twenty-six tacks. The vegetable market is quiet..

11

*

*

*

Abundant rice harvests are,, ex- pected in the districts along the East River especially Muibaien, Hingning and Wuwah as a resuit of the favourable weather condi- tions. In these districts, the cur reut prices of rice are about 13, 15 and I catties to the dollar and when the harvests are tenned the priers will drop further. In view of this. rice merchants in Canton

districts and the country anxious to sell off their stocks and have lowered prices.

THE METAL MARKETS.

are

Messrs. Rudolf Wolff & Kew, Ltd.; have kindly forwarded us the follow- ing letter dated May 24, from their London office:

Markets have been quiet but at the same time have ruled easier and prices are all lower as compared with last Friday's official "close.

Tin.

The most striking feature in the above is (h) which affords evidence of the improvement in local condi- tions, an improvement which is also redected in the increased postal and radio trafic (c) and railway receipts (d) the latter being mainly due to the running of the through service, to Canton

The considerable increase in (a) is largely due to assessed taxes. liquor duties and revenue from the opium monopoly.

3. The only head showing deficit was light, dues which fell below the amort estimated by $11,449.

EXPENDITURE,

The total expenditure brought to account amounted to $21,230,242 being $942,803 less than the estimates and 8385,177 more then the expenditure in 1997.

The principal heads showing sas- ings were as follows:- Savings. Post Office.....

$ 30,759 Imports

Exports Ofice

56,3843 Harbour Department...... 151,489 28,012 42,443 74,490

and

Police Force

Prison Department

Medical Department

Sanitary Department

66,434

Education Department ... 125,473 Public Works Department 101,024 Public Works Recurrent. 197,935 Public Works Extra-

ordinary Charge

358,048"

од account Public Debt Pensions

of

32,696 94,000

The savings in the Harbour De- partment are accounted for by lapsing salaries and 'deferring the purchase of new launches.

A considerable reduction in the

The saving in the Education De- partment is mainly due to lapsing salaries and to capitation and building grants falling below the estimate.

6.-The following statement shows the liabilities and assets on Decem ber 31, 1928:-

Liabilities. Deposits not avail-

uble

Вовле service

count....

Portal agencies

Coal account

Suspense account Suspense trade loan

Overdraft, bank trade

loans Adjustment of

ex.

change account..

"

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

H.K. Banki

Jusz 19, 1929,

1. $1,247 ani,

buy.

Do London... 2132, Chartered Banke $19 Marcantile Banks, A. &... nom. ...e1st nom

nom.

P. & O. Bani East Asia Banks.........1904 vem. Canton Insurances...................3047 sel, Onion InsuranÒI

buy. North China

JAVA-CHINA-JAPAN-

LIJN.

Tel. Address: JAVALYN Tel-Central 1574.

JCJL

York Huilding

idu J

Hongkong.

Yangtare Insurance.....M. $50 Dum. Chins Underwriters ......33 10 sel. China Fire Insurances...1300 boy. B.E. Fire Los

140101

nom

Douglases .... now. H.K. Steamboa H.K. Tage ........

$3.00 val. Indo-China (Pref.)....3501 buy. Do. (Def.) $70 nom. Shell Transports.100/- nom, Union Waterboats......

..$29 Hom Bengueta Kallan Mining Aamin ...65/- nom,

1+el. T Lang kata(combined)................

Do. (angle)...M Tix. 7. 3,088.97 'hat, Explorations ...... Tia. vį kel. 4,150.14 Shanghai Los men,Tie, j

.8° 2,042.683.0

8,609.34 Baube ........ 506,584.85 Tronoh Kines 071,835.25 A. & K. Whan

DOU.

361 nom.

가

....17/6 pola.

flay bay, t

4,023,060, 98 EK. & W. Decks

bay. China Prumdanti ................. $4,10 vol. Hongtow ............... 183 nom. Now Engineeringm ....... Tis, 5.85 buy Shanghai Docks...Tls, 1334 buy. Ewa Lotions...

Tis. 12.70 bar. Oriental Cotwur

2.20 buy. B'hai. Cottona iola) ..... .70 bay...

!zowi..... Tis. 33 buy,

$8th wel

132,923.69 Total liabilities... 7,401,985.79

Balance....... 8,091,633.87

Totni...$15,493,588.09

Assats.

H. Do.

&. Hotain

**་:་་

..$62 val.

HK Lands Subsidiary coins......$ 2,145,183.77 | Bhanghai Laude

14xj bay, Advances.

57.844.63 Humphreys Estate..............$13) buy. 1,469,787.88 K. Kali .......371 bay.

4,795.99K 1ramways

Building loans ...... Imprest

+Crown Agents' de

posit account Unalloented Stores

(P.W.D.) Unallocated Stores

(Railway) *Investment account.

Balance at Bank Trade loan outstand

ing

Crown Agents' cur-

rent account.....

י".

3,045,885.98

363,483.23

34,799.88

Total....815,493,558 09

Peak Trams (old) $11,80 buy.

(new)....$5.05 nom

$65 bay.. 66 al.

05

Star Ferrinesiese

Obina Laghi, Cum,

{$15.80 al.,

Eights..114

Do. Ex Rights...$129.

noin.

?

180.192.00

D5. Kight

$7.90 nom. 1,281,141.98 H.K. Electrics 166 bay. 55) 1,330,614.58

sel, 51 an Macao Electrics. 4,687,906.13 Bandakan Lighte

Telephones....$7 bay, China Buses

1st bay. Bingapore Tractions..... .11/- wsi.

Do (Pref......18/ nom, China Negan pune

buy. Malabon Sugars.......$27 nom. Caution Icon... buy. Cementa (combined) .. $7,90 Bol

Do.

sel. (old)......371 Do, (New).....31.40 nom. EK. Boper

$7.

7 val. Is buy. Urited Asbestos

419.

t-Cash on deposit £221,000.

Cash lent at interest £178,000. *Invested as follows:- Natal (1999-49) 3 per cent. stock:

Nominal value, £7,600; cost price, £5,648 78, market value, (77) £3,859.

Newcastle Corporation (1943-35) Uairy PaYENƏ kumuom

Watears

4 per cent. stock: Nominal Der A

A Wings value, £20,000; cost price, Lane Crawfords...... £19,200; market value (87) Mackintoshs........ £19,400.

Sinceres

Queensland (1940-60)," 5 per cent. stock: Nominal value, £29,009

168, 10d. cost price, £98,719. 14 11. market price, (89) £28,718 148. 10d.

|

.80 cta, bay,

50

$13 sal

$16 bay. $12 bay.

WIL Powell..

en un 13 sel. HK. Amusements.... 2001 buy.

ELE. Constractions......17 sol.

B'que Indar. G.$Bonila...87% nom, ELK, Gor, Loan...7% prem, bay. & sa

non-cominsi..

Treasury Bond (1934D), 4) per | bay.-buyers; sel-sellerą; an-nies ;

cent stock: Nominal value, £74,640 08. Bd.; cost price," £75,852 12s. 6d. ; market value; (*) £75,882 12s. 6d. Total: Nommal value, £131,258 178 4d; cost price, £199,448 148. 8d.; market value £129,554 76. 4d.

-No quotation.

Ji

7. The following table shows the revenue and expenditure during the last five years:

REVENUE:-1924: $24,200,640; - 1925 23,244,385; 1828 $21,131,382; 1927 $91,344,538; 1998 $24,088,309.

EXPENDITURE:-1924 $28,728,428; 1028 828,266,817; 1098 €32,504,718; 1927 $20,845,085, 1928 $21,230,242.

SURPLUS:1927, 8498,471;' 1928 $3,728,157.

DEFICIT:1924 $2.516,788; 1925 $5,029,462; 1996 $2,393,124.

Public Debt.

8.-The Inscribed Stock Loans of 1893 and 1900 amounted to £1,485,733 and the Sinking Fund stood at 2631,051 being £43,848 more than the amount to credit of that fund at the end of 1927.

The Public Works Loan (Ordin- ance No. 14 of 1927) amounted to 84,927,000. The first part of this lonn was issued locally at par on November 1, 1927, and bonds were allotted to the value of $3,000,000.

Tin has been quiet and steady: the price, showing very little varia-expenses of running the Opium tion during the week, closes at a Monopoly was the chief reason for small decline of 15/. for the forward the saving shown by the Imports position whilst cash remains un- and Exports Office. changed as compared with our last The Prison Department showed report. Demand on the part of savings in practically all h-beads Savings in the consumers has been quiet in this of expenditure. country as also on the "Continent, Medical Department were mainly though a moderate business was re- due to lapsing salaries and smaller ported to have been transacted with purchases of hospital equipment and America. The market continues to stores generally. Lapsing salaries receive a fair measure of support and small decreases in many sub- at the hands of the bull party, but heads produced the savings shown CANTON STOCK EXCHANGE. insufficient to make any real im in the Sanitary Department.

pression on prices. Sales in the East have amounted to 1,375 tons during the week; shipments thence up to the 21st inst, were 6,560 tons, and for the month are still estimat ed at 0,000 tons. The premiums on Lapsing salaries chiefly accounted Straits and Banks are quoted at for the savings in the Publis Works £1 108, and £4 10s. (nom.) respec-Department. The votes for typhoon tively. The market meanwhile pre- and rainstorm damages were not sents, no fresh feature of importable items in the savings effected anes; consumption is well maintain- under Public Works Recurrent. ed, particularly in America where, though there has been recurrent weakness on the stock markets, there is no indication of any set back in industrial activity and con- sumption seems likely to be good at least for the next few weeks,. whatever seasonal slackening may

9. The total receipts and pay- arise in subsequent months. But in any case, with the heavy shipments

Difference in sterling exchangements in the Treasury books during coming forward. the tendency is accounted for the saving under the year were $62,430,121 and 851,684,457 The figures not ac stili for supplies to keep ahead of head" Charge on account of Public respectively. demand, and the market therefore Debt" and the same reason may counted for under revenue and ex- is likely to require some support if be ascribed for part of the savings penditure relate to transactions under various heads such as De- further decline is to be prevented, Jon Pensions..

posits, Advance, Subsidiary Coin, Unallocated Stores, etc.

10.-Subsidiary Coins in stocks on December 31 were as follows:-

20 cents............. $17,€10 10 cents............... 1,834,079

5 cents.................. Copper

Water Works Electrio Light & Power Co. Canton Hankow Railways The Sun Company

94.00 Sincere Company

...119.00 Nanyang Bros. Tob. Co. ......

3.80 Kwangtung Tramway Co.... 2.10 China Merchants' BN. Co. 41.00

· Central Bank of China ...... 40.00

EXCHANGE RATES.

[BRITISH WIRELESS EERVICE]

Rogey, June 18.

193.85 93.205.

Paris Geneva Berlin Oslo

Helsingfors..... Achenseerd. Buenos Aires Hong Kong New York

·Amsterdam Stockholm

Vienna Madrid

Bucharest Bombay Yokohama Brussels Misan Copenhagen

Prague

Rio

Shanghai

Silver (pot) Bilver (forward)

end of the year £1,385,000 had been repaid. The Hong Kong and Shang- hai Banking Corporation are now the sole lenders.

All loans fell due for repayneat at the latter part of 1027 and the beginning of 1928, but owing to the financial situation then prevailing it was decided not to put any undue Pressure on the borrowers, and were renewed on' a many loans month-to-month basis.

It was found necessary in four cases to resort to enforcement of the security, and no losses were sus- tained in this connection.

The overdraft at bank at the cluse: of the year was 84,023,050.88.

The following table shows the financial position of the loan on De- cember 31, 1928- Total of loans issued

.4

from November 16, 1925, on the security of mortgages815,628,762.84 Less redemption effected

during the year - 1926 $2,004,930,00 1927 .... 4,845,879.78 3,403,560.02

1928

Total

10,864,380,78 A considerable saving in Public The second part was issued on

........ $4,774,423 06 shown. November 1, 1998, at a premium of Less amount written Works Extraordinary is Several works contemplated in the 3 per cent-bonds to the nominal. off as irrecoverable... 78,508.93 estimates were not proceeded with value of $1,927,000 being allotted. during the year and others were not The sinking fund amounted to initiated until late in the year. 220,666 Particularly large sums remained unexpended in the votes for Port Works.

or even the present price maintain-***

90,315 18.185

ed.

J

*102

-376

47 1/10 1/31 4.84 25/32

12:07

18.10

34.52

34.125

+

818 Holiday 1/0 13/18 34.925, 92.65 18.205

1031

2/44 21

24 8/10

Copper.

05,310 217,028

"

General Remarks.

Total of loans out- standing on De-

cember 31, 1928...9 4,607,906.13

the Overdraft with

Hong Kong and Shanghai Banking Corporation on De cember 31, 1998 4,023,080.58

Interest in arrears on

December 3, 1926.8117,360 42" 200,819.64 December 31, 1927 .... December 31, 2028... 391.121.10 Total number of loans issued... 289 Less number redeemed in

273,419

20,050

1927 1028

__82,145,184......

The nominal amount of coins in

Excess. The principal heads showing ex- cess were as follows:

Kowloon-Canton Railway. 27,148 Copper has been-quiet and easier,

Military contribution the price showing. & decline of £á

Miscellaneous services 10s. for cash and £1 10s, for three

The excess in the Hailway Ac- months as compared with our, last

counts is due to depreciation on report. Near dates have been 'com-

An underpayment to the paratively neglected and being in rails.. less demand, it has resulted in a Imperial Government on account of contraction of the backwardation, 1997 was settled in the year under- now 7/6d. as compared with £2 76.review and thus brought about the ad. last week. The market still re- excess shown under Military Con mains in a rather unsettled state, tribution.

Several unforeseen items of expeis sentiment from time to time being

Report on the Trade Loan, affected by the changing conditions diture including a refund of China

The sterling liability on December ruling on the New York Stock Ex-Companies Fees and the temporary change, whilst considerable doubt exchange compensation allowances 31 stood at £415,000. During the. exists as to whether or not there to Government servants were rea-course of the year under review, ill be alteration in the Associationponsible for the excess under Mis £435,000 was repaid as against price of electrolytic Bubiner with Citated to out £400,000 in 1924 and £550.000 in..

Loans obtained in London consumers in this country has been 5-The revenue for the year ex-1027.

amounted to 21,800,000" and "by the slow, whilst reports from the Con-ceeded the expenditure by the sum

(Continued on nezi-Column), tinent have not been too reassuring. of $3,738,157.

circulation was $17,914,370 and the market value stood practically at

par,

..

34.

85

97

206

-Number of loans outstandingB3 Loans obtained in London. by the Hong Kong Government. Lese reuaid in-

REGULAR PASSENGER & CARGO SERVICE BETWEEN HONG KONG,

AMOY, SHANGHAI, MANILA AND THE DUTCH EAST INDIES.

SOUTH ROUND.

STEAMERS

FROM

ETFICTED ON OR ABOUT

WILL LEAVE

For

TJISONDARI... S'HAN & AMOT 24th Juzej TJILEBOET Suai, K'iino, 30th June TJIKEMBA NG S'YAI & AMO? 4th July!

TJIKINI ... Daisy, E'lone. 14th July||

↓ AMOY . ||TJIKARANG ..9'8. & Axor 15th July

SEA. & AMOY 25th July TJISAROEA

STEAMERS

26th June,

+p.m.

BATAVIA

2nd July, MANILA, M'KSAK.

pa SOEXABATA "6th July BATAVIA

16th July, MANIA, MTUL

+ p.m. J BOERABATA 17th July. BATAVIA

4.m 27th July, + p.m.

"NORTH BOUND,

***

FROM

EXPECTED ON OR

ABOUT

22nd June 26th June 3rd July

TJIKEMBANG BATAVIA TJIKINI ... JAVA, MAKANSA THIKARANG BATATLA TJIMANOER ... JAYA, MAKAMBAR 1th July THISAROFA

BATAVIA

13th July TJITAROEM JAVA.MAKASSAR 24th July), TJIBADAK

BAZATIA 24th July

WILL LEAVE.ON i OK.. ABOUT

BATAVIA

For

23rri June Amor & S'war, 8th June Axor & S’XL. 4th July Axor & 9′ar 12th July Axor & S'WAI. 14th July Amor & S'AJ 26th July Axor & S’HAI. 27th July Amur & 5'xal.

EXCURSIONS TO JAVA

The regular service of the Java- China-Japan-Lijn steamers from Hong Kong to Java, and vice-versa, offers a splendid opportunity for excursions to Java (the Pearl of the East) and other parts of the Dutch East Indies.

3

Famous for craters and volcanoes, delightful scenery, invigorating Mountain resorts, excellent sporting facilities,

Travel in comfort on first class steamers with excellent accommodation for passengers; European Doctors carried; Wireless telegraphy installed.

"Hong Kong to Batavia (7 days) saloon fare: 8175, return $300.

For particulars apply-

JAVA-CHINA-JAPAN LIJN.

Agents-

ROYAL NETHERLANDS INDIES AIRLINES, LTD. York Building.

CU

Téléphone C. 1574

Hamburg-Amerika Linie,

COMBINED · FELIGHT AND PASSENGER SERVION CABIN CLASS ACCOMMODATION FOR 50 PASSENGERS. FARE FROM HONG KONG TO GENOA-E73, 01, 01,

OUTWARD.

Sailings from Earope for S'hai, Japan & Northern Ports:-

8.6.

TIRPITZ "

K.V. “LEVERKUSEN” M.V. "ERMLAND M.V. “ BURGENLAND" MT. "EUER"

M.V. "VOGTLAND"

HOMEWARD.

dae here on or about the 18th July ... due here on or about the 19th July das here on or abort the 2nd Aug. ... dus here an or about the 16th Aug. dus here on or about the End Sept. das here on or about the 18th Sept.

Sailings for Genoa, Botterdam and Hamburg via Manila, Singapore, Colombo & Port Said:

8.8. ́"OLDENBURG ... sailing from here on ar about the 30th June- 18.8. “SAARLAND” smiling from here en or shout the 18th July.

M.V.BERINLAND

sailing from here on or about the 27th July

‡ M.V. “HAVELLAND”:, sailing from here on or about the 10th Ang. M.V. "LEVERKUSEN sailing from here on or about the 24th Aug. H.T. "ERMLAND." ailing from here on or about the 7th Sept.

++

† Calling also at Merealles.

..$1,500,000

1926

1977

1920

£400,000 550,000 435,000

£1,385,000

Total outstanding on

December 31, 1922...£415,000

16)

For Freight, Fanings and further Particulars please apply to

JEBSEN & CO

12, Pedder Bircet