1929-06-27 — Page 9

Money and

HONG KONG MARKET

REPORTS.

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

Rice."

Per Picul. Common White, Red. Seal ... 86.73 Common White, Green Seal... 1.04 Common White, Black Seal

No.3 Comsnon White, Red Seal

6.93

No. 3

Long Unglutinous, Ching Fa

Larn

7.22

Miscellaneous,

"Coarse granulated sugar, Yo.

13

Coarse granulated sugar No.

PA

Honey, Posch

86.93

1.90 36.00

Camellia-nut oil

Sheet Bros.

18.80 20.50 26.00

Dried Mussels

Dried Awali, Chung Fui...175.00 Dried Flat Fish, Yat Pan... 70.00

Markets

METALS.

Messrs. Pentreath & Co. have kindly forwarded us the following letter dated May 10, from Messrs, Hornby, Hewelryk & Co., Liver. pool:-

dopper.

The metal markets have been sub. dued this week, and until the General Election is over, activity is not expected to be resumed.

A feature of the copper market has been the consistent marrowing of the backwardation which indic ates that the importint shorts hage fairly well covered their immediate

commitments.

Weakness in Wall Street has been an unfavourable factor, and the demand for Electro continues spasmodic and unimportant.

Un- less some decided improvement oc curs in this direction, deliveries will fall away, and it will become a question of much speculation whether the proposed curtailment in output will be sufficient to offset the reduced deliveries.

THE HONG KONG DAILY PRESS, THURSDAY, JUNE 27. 1929.

For the time being the margin of £12 per ton between Standard and Electro values is too great, so that Standard must improve or lower CANTON MARKET REPORTS, prices for Electro appear likely to

be established.

COTTON YARN,

The market remains quiet and prices low. Prices of No. 20 fell further on Tuesday by two to three dollars, and No. 32 and Nc. 4 by one to two dollars and No. 10 by about three dollars. Prices of No, 16 and No. 12 were uncharged. The quotations were:-

No. 42

No. 20

No. 165

No. 128

No. 10s

No. 69

Ta

HONG KONG SHARES.

MID-WEEK REPORT.

---

The following sport; dated June 26, has been reveived from the Hong Kong office of Mr. Harry Odell, stock and share broker:-

With the casier circulation of money, due to a better outlook in the Chinese political situation, a firmer tone exista in the market There are more inquiries generally han has been the case of late with business resulting at better rates.

Tuesday's June Settlement WEA satisfactorily negotiated, not ith- standing comparatively heavy com

Cements, Trams, mitments in Hotels, China Lights, and Ewos.

Banks. Have been dealt im at $1.240, with further buyers.

Canton Insurance.-Are on offer at $630, after having come to busi- ness at that rate,

H.K. FiresSales effected at 8770 and $760, and close with buyers at 8785.

Unions-Have changed hands ut 8394; share are now obtainable at

slightly lower rate,

Indos (Preferred).-Can be placed at.45.

Wharves-Have again recovered to $195, at which rate business bas resulted

Docks-Are quirt with sellega ut

834.50.

THE SUEZ CANAL.

GROWTH OF TRAFFIC.

The report of the Suez Canal: Company, presented at the annual! meeting in Paris last month, shows further substantial growth in traffic,

Both in number of pas- rages and the net tonnage of the ships passing through the canal the figures are the largest in its his tory. Those for the last five years are as follows:-

Net No. of Passages. Tonnage, 4,064 21,905,002 5,545 25,962,048 4.830 23,060,377 -5.337

96,761.035 5,190 95,100,85% British shipping was again by far the principal user of the canal. In the following table are shown the first six users according to nation- älity

Year. 1029 1997 192

1923

· 1924

Fibg. British. Dutch German

French

No. of Nét Passages. Tonnage.. 15,194,074 3,383

.017 3,320,629 3,300,018 1,926,960 1,649,02 940,070

611 350 363

Italian ...... Japanese.... 158

The ten largest groups of owners, and those whose tonnage passing Providents-Have been done at through the canal exceeded 1,000,000 84.05 and 84 for ready delivery, 84.10 July, and 841 October.

net, were the following:--

No. of Lands.Have buyers at 801),

Owners. Torange. Passages. sellers at 862.

P. & O and Trams-Sales effected at $183 British India cash, $39.18 and $18.30 September.

Group and close firmer, with buyers offer-British Tanker ing $18.00 cash and, corresponding Company

Ellerman Lines

Group Alfred Holt &

Co. Cunard Line

Group Messageries

rates forward.

There is no fresh feature to re- port concerning this market, buy

on behalf of the Group being still the main support "to prices.

Progress of the negotiations amongst producers is obscure, and menntime consumption an quite satisfactory. In the United States both the tinphite "and automobile 8360-368 industries are working at fairly Ferries-Are being offered at 885

250-282 high presure. The May statistics and have buyers at 86. 253-266 are due for publication shortly, and 247-254 appear likely to reveal some slight and 8551, can still be placed at Electrics-Sales recorded at 8553 216-235 increase in Visible Supply. 190-196 Our New York correspondents 9531.

cabled last night that the New Lights (cum Rights). After har- York metal markets are quiet biting changed hands at 813.60, are steady. The undertone is improv being inquired for at 8132.

RICE. The market is dull, and prices have been high

Per Picul

Kwangtung

Wuhu

Andam 'Tonquin

Carga Rice........

Long Unglutinous Broken, Annam "Granulated........

White Bran

SUGAR

.$0.48-11.70

5.92-9.16

0.40-10.10

6.05-9,50

7.87-8.43

0.93-0.85

83.37:5.57

3.52-5:55

3.30-3.60

Per Picul Gramlated, No. 2 coarse.... $ 9.22 Granulated, No..3 coarse Granulated, No. 1 fine.

White, Waichow...

Brown, Namkong

Sugar candy, Walchow

Brown, Pokla

Pullet

Cock

Hen

Duck

Goose!

POULTRY.

7.98 30.50

9:37

10.70 11.00 7.55

Per Picul ..901.50-109.00

VEGETABLES:

White Cabbage

Hairy Squash

Mustard Plant

Cucumber

Bitter Squash Long Gourd' Onion. White Cucumber Long Bean Ginger, Namhung "Ginger, superior

ing.

CANADIAN PROGRESS:

SATISFACTORY FIGURES.

"D.P." Special Service.

Ottawa, Ont.--Cużadian business moved out of the first into the second quarter of the year on & high level of activity. Our of twelve indicators reported by the Dominion Bureau of Statistics, of which three reflect conditions in April and the others at the close. of March, there is only on instance in which the range of ac. tivity record is not higher than a year earlier.

This exception is coal produe tion, in which, however, the March output was higher than the average in the five preceding years, 78.00-105.00 Though the stock market indices 60.88-80.50 reflect the recent decline in activity 61.50-69.00 and values, they are nevertheless, 53.80-85.70 higher than at the same time in

the year previous,

In the table which follows the Per Picul state of the index for the corres 1.00 pending month last year is taken 1.20 as one hundred and the latest in- 2.70. dex for the present year is given 1.00 as a percentage on that base. The 2.40 results are:

2.30 Employment, 108; pig iron, 130; 3.80 ste-1, 110; bank" debits. 124; car. 1.20 loading, 109; building permits, 3.20 161: imports, 11; exports, 107 7.20 coal, 98; coke, 128; investore in- dex, 190; traders' index, 248.

22.50

"GREATER than RUST"

Wilkinson's

ANTICORROSIVE

Ready Mixed Paints

for Every Description of Iron and Steel Work

Large Stocks kept

of Two Shades each

RED AND GREY

Specify

Wilkinson, Heywood & Clark's

PAINTS

Agents:

& Co.,

S. C. LAY

Alexandra Building Telephone Central. 687.

Cements (Combined).-Have been the medium of a fair amount of business from .88 to 88.15 coah, 85.40 August and 88.30 September..

$14.

SHANGHAI MARKET

3,213,000 463

9,553,000 308

1,966,000 3*3

1,766,000 310."

1,443,000 280

1,954,000 308 1,183,000 **24

197

790

Maritimes Hansa Line Nederland S.S.

Company 1,160,000 Rotterdam

Lloyd

1,004,000 Hamburg

Amerika Line 1,029.000 181 Ropes. Have sellers at alightly below quotation rates.".

A noteworthy feature of these Amusements-Have become easier, gares is the second place in ton- sage taken by the oil tank vessels but can still be placed at 899.

of the British Tanker Company, Constructions-Are wanted at which is associated with the Angio- Persian Oil Company. The number of passages of vessels of the feet was actually greater, at 506, thar that of any other ownership. The P. & O. and British India group, including the Strick Line and the Hain Steamship Company, was second with 483 passegcs, and the Ellerman group, including the Hal, City, Bucknall, and Wison Lines,

with 27

passages, Mesars. Alfred Holt & Co. (Ocean Steam Ship Company and China. Mutual Steam Navigation Company) T.T. on London 1/11-1/8.

were fourth with 310 passages, and T.T. on Shanghai 89.

the Cunard Lines "fifth with 230 Next Settlement Day, Tuesday, passages. Included with the latter July 30.

A further improvement has to be recorded in Cotton and Industrial shares. Latest cabled prices are

Ewos Tla 13.40. Orientals The 2.30, Shanghai Cottone T 74 (Old) Tls. 35} (New), New Ea gineerings Tha 7), Shanghai Docks

Tls. 139.

The Exchange rates for the day.

are:-*

ROYAL MAIL STEAM REPORT.

COMPETITION ON FREIGHT SERVICES.

In their report for the year 1928 the directors of the Royal Mail Steam Packet Company state that the volume of saloon passenger

trafic to and from South” America shows little fluctuation from year to year, and the supply of tonnage on this route is more than adequate to mee the demand. In spite of severe competition, the company's vessels during last year obtained

atisfactory share of the trafic moving. The third class business bas remained steady, the flow of the emigrants proceeding from Peninsula and Central and Eastern Europe approximating closely to that of the year 1927.

Winter tours round South"-Ameri- ca are becoming increasingly popu lar with the British public." Cruis ing business continues to expand.

Competition was further intensi Eed on the freight services between Europe and Brazi and River Plate, West Indian, Spanish Main, Cen- tral American, and North Pacific ports, and conditione of trading generally remained difficult.

Vas

third

were the ships of T. and J. Brockle bank Limited, the Anchor Line, and the Commonwealth and Domi- nion Line.

INDUSTRIAL PROBLEMS.

.COMBATING WASTE.

LARGE-SCALE PRODUCTION.

"D.P." Special Barvice.]

It seems inevitable that, wher- ever a large body of persons in congregated together in industrial employment, there should be p considerable amount of waste. So commonly experienced and so well recognized is this that most indus- trinlts have come to regard it as

natural concomitant of such a situation and a contingency to be faced with comparative equanimity.

The amount of waste, both in time and material, that goes on Perpetually in every factory or busi ress does not necessarily bear rela tionship to the magnitude or extent of operationa, Ior, of course, vary- ing standards of efficiency in work- manship, method and supervision enter into the equation. Speaking generally, however, the more the human-28 opposed to the purely mechanical-element is in evidence, the greater is the likelihood of waste going on undetected and suming serious proportions-un- Ic63 some exceptionally effective, system of checking" and control is introduced.

Sum of Losse3.

In production on a large scale, the sum total of small losses; many times repeated, may well be equi- valent, in the long run, to a great dimstrous-setback. -perhaps The problema is tone down" the liability to the lowest possible dimensions.

The wages situation, in these restless days, never ceases to de- mand the attention and watchful- ness of those who direct important" industrial undertakings. Wages and output, being two dominant factors in the conduct of an indus- try's operations and the maizteo- ance of its well-being, it is not surprising that a large quantity of statistical information under these heads should be regarded as essen- tial. The requirements of modern social legislation n'eo account för a great deal of additional detail.

The management must be kept well informed in regard to details of expenditure, and costing and other departments must be enabled to complete their returns dealing with production costs and other atatistics. To meet the exigencies of such conditions, many formali. ties are observed, many particulars concerning the employees and their work are registered, and elaborate analyses and numerous. and statements are prepared, and become part and parcel of the daily routine.

accounts

Prodts Sharing and Bonuses. An outgrowth of various attempts, during the past few decades, to cement the differences and reconcile the interests of employers and em- ployed has been the formation of profit-sharing schemes.

No one has yet formulated a suc cessful profit-sharing scheme of universal application: There have beer schemes which have been well CANTON STOCK EXCHANGE. euited to particular industries-

CLOSING QUOTATIONS,

CANTON, June 25, Water Works. .............$ 3.80 Electric Light & Power Co. 4.30 Canton - Hankow," Railway

Company

The Sun Co

Sincere Company Nanyang Bros. Tob. Co.... China Merchants Navigation Co.

0.50

such as that of the gas industry- and these have worked well in "practice and shown "good results. But, time after time, efforts to pro- mote greater goodwill and co-opera- tion by such means have not been altogether succesful.

The idea is intrinsically sound and praiseworthy, and when, carried 94.00 out in the right spirit is doubtless 118.00 productive of mach good. The

JAVA-CHINA-JAPAN-

LIJN.

Tel. Achiruss! JAVALYN

Tel Central 1574

JC JL

Vari-Hulding

Hangkang.

REGULAR PASSENGER & CARGO SERVICE BETWEEN HONG KONG, AMOY, SHANGHAI, MANILA AND THE DUTCH EAST INDIES.

SOUTH BOUND.

STEAMERS

From "

EXPECTES ON OF

ABOUT

WILL LEAVE

Fox

S'HAY, KʼLUNG, 30th June]

& AMOY

TJILEBOET TJIKEMBANG S'HAN & Amor 4th July TJIKINI ...DALNY, KLUNG. 14th July

Джот TJIKARANG FʻRAL & AMOY 15th July

TJISAKOEA SALAMOT 25th July

W

2nd July, MANILA, M'XAAL

4 pm.

SORRAZATA

6th July BATATIA

16th July, Manna, M'KSAX.

p.m. & BoxRAJALA-

BATAVIA

17th July,

4m 27th Julu,

BATATLA

4p.

NORTH BOUND.

STEAMERS

Fick

EXFECTED ON OR ABOUT

WITAL LEAVE ON

For

ON ABOUT

TJIKINI ....... Jaya, Makazgan In Harbour

BATAVIA TJIKARANG ...

3rd July TJIMANOER ... Java,MAKAMAN 10th July TUISARORA BATAVIA 13th July TJITARQEM JATA.MARAIBAz) 24th July: TJIBADAK. “..... BATAVIA 24th July

28th June Axor & S'ka

4th July Axor & S'HAI. 12th July Axox & STAT 14th July/Auơy & S'KAI, 20th July,Axor & S'HAI. S7th July Axor & B'HAI.

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.

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: $175, return $300.

For particulars apply--

JAVA-CHINA-JAPAN LIJN.

Agents-

ROYAL NETHERLANDS INDIES AIRLINES, LTD. York Building.

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

非 Steam

3.90 chief desiderad are amiable rela- | H.K. Banks

tionship, from the higher offices

Do.,

Central Bank of Chine Kwangtung Tramways Co.

40.00

.. 2.90

A Bolution.

On

JUNE 24, 1999.

London...21821 nom. .

**** MUT 19*** *** mention

40.00 downwards, a sympathetic atmos Chartered Banks $19 buy.

phere, "sweet reasonableness" Mercantile Banks, A. &B...235 nom, the part of all, and (very import-

Do.

Q£lli nom, P. & O. Rani... 201 ant) smoothly-running methods.

East Asia Books .........$90, nam, Canton Insurances..............$635 sel., 639 A, Union Insurances..... $324 vol. North China Ins. „Tlx. 160 buy.

*M. $50 nom. Insurances...... Yangtze Obins Und

Inderwriters

$4.10 Epi China Fire Insurances...$300 buy E.K. Fire Int....1765 bay, 770/

776/780 69.

LEVY ON SILK..

JAPAN AND CHINA ORIGINS

TAXED...

60 sel.

The surest means of solving many of the problems of industrial management and control-reducing waste to a minimum, securing las expensively all the information re- quired in connection with Washington, D.C-To" compete

and output, within the shortest

Steamboats 25 better with silks imported from possible time, and establishing a "k:Tags to... Japan and Chins, and further to system conducive to harmonious Indo-Chinas (Prel) ......145 buy. foster the domestic silk industry,

relations is to make use of a Do. (Def)

$70 Mr. H. Cheney of the Silk Asso proved mechanical process, as, for Shell Transporta....... „100/- nom, ciation of America addressed a instance, the Hellerith electrical Union Waterboats.... petition to the Finance Committee tabulating and sorting machinery Bengueta....

1.33 norn, of the Beuate to introduce new and methods,

Kailan Mining Admin ...83/9 nom. levy on the valuation in America.

Langhata (combined)...... Tla 74 sol. Do. (angle) „Tie. 71 mal. S'ha

hat Explorations T. sel. Bhanghai Loans

(a) Punching;

(b) Sorting:

(c) Tabalating.

The company and its associated

Three distinct meanical pro. shipping companies have continued

A levy on this basis is already cesses are involved:— to carry a large proportion of the being imposed on French imports. chilled and frozen meat imported The above system commands wide from South America. The range of support. When the proposition commodities carried under refri really takes shape, the Japanese geration from the River Plate and parties interested are feared to Brazil is increasing, and, in addi- auffer severely. tion to meat and dairy produce, appréciable shipments of fruit are now being exported to the United. Kingdom.

:

The North Pacific seaboard pro- duced a large apple crop in 1928, and the vessels of the North Pacific coast service carried a considerable portion of this fruit.

BERLIN STOCKS.

bat

Berlin, June 96.-The stock exchange opened confident,

prices

Baube ***** Tronoh Minas

nom.

H.K. & K. Wharts......$125 bay, 125 *.

$35 nom*** $8.00 buy..

buy.

Tis: 188 nom. 175, 184 buy.

Telephone & 1574.

CANTON. RAW SILK

MARKET.

PRICES HAVE WEAKENED.

A fair amount of business was done during the past week (ending June 25, bat it consisted of cover- ing against short-enles, and buyers being in a hurry to get cargo for June shipment, sellers took advan- tage in asking higher prices.

The top prices paid for 14/10 N.S. Crack chops were 8976.

At the moment of writing, buy, ers seem to have sufficiently cover- ed, and prices have weakened and shown signs of declining further.

3rd Crop.It is estimated that this crop will yield 12,000 bales, of fairly good quality.

We quate to-day-

8955 for 14/16 N.S. Crack Chops.

2870 for 30/22 N.S. Ex. Ex. A. 8645 for 13/15 0.8. Best 1.

H.K. Electrics....... $551 boy, 601 m. Macao Electrics.....128) nom. Bandakan Lights $21. Telephones. 57 buy. China Bares.............Tie. If bay. Singapore Tractions... 11/1⁄2 mil (Pre)....19/- noz China Sugars

9 ste, bay. Halston Bugar.....$27 nom. Canton Ires Cementa (combined).

nom.

*** buy.

39 10 buy.

Do (old) ...573 sel

Tim. 14.95

21 bay.

HK. Baper

Do.

translating of information from the China Providents.

(a) The punching process is the FL.K. & W. Dock ......... original documente into a forma in Hongkows........... which it is capable of being mechs No Engicoaring nically handled that is, in the Shanghai Docks form of a standard sized card. Ewa Cottons. These cards, when punched, repre- Oriental Cottons sent, in perfect detail, the original 8'hai Cottons (old) ...... TL: 711 documents themselves.

Do (new)Tl. 333 buy. HK. & N. Hetela

***** 38:45 Uny. E. Lands......863 sel.. Shaoghai

Tia. 147 Humphreys B ister......$13) buy, HI

871 bay. Realtime i HAK. Tramway! venovanjem ko

$184 buy. & m

Lands

(b) The sorting process groups The steamers Cardiganshire and under the ing weakened somewhat the cards, irrespective of their Carmarthenshire have been sold ing and the reports "of extensive order of those headings for which original order, into the correct for conversion into whaling, fee shipments of gold from London to

*it in demired to produce totals, tories, and also the Teviot for New York breaking up. A list of the fleet The turnover was small, with the (e) The final process is that of Peak Trams (old)... 11.20 nom shows a gross registered tonange of exception of a few. special shares, totalling the groups of cards as Ba. (now)...85.05 nom. The fleet of their ferdesandartificio todo predetermined formation pamama companies asociated with the com. Delayed foreign order to meet combina Lights Cum Eight 1194

Ex Rights...$1290 nom. pany now aggregate 2,337,730 gross stimulate trading, therefore the form part of the accounts and/or

markets closed with a quiet note. statistical system. registered tons.

Right $7.90 mom:

Do.

Do.

bay.

United Asbestos

$1.40 nom.

........15 buy. Dairy Farma..............319 nom WANCES a

A

.80 eta kay.

#1 sel.

Ebay.

Wings Lane Crawfords..... Mackintoaks. Singereza...112 bay Wm, Pawele....$3.00. H.K. Amusemente..... $29) now. H.K. Constructions.....1 bay. Bare Indas G Bands Hike Gork Lo

funézia

buy-bayan; sel-sellores; sa-

nam-etomina!