1929-06-29 — Page 9

Money and

HONG KONG MARKET REPORTS.

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

Rice.

Common White

Broken, Blue Seal

FA Lam

"

Per picul.' 20.17-0.03

Reddish Cargo Rice ......

4.06 8.17

Long nglutinous, Luk

7.12

Glutinous Broken, No. 1

6.89

Glutinous

Gragulated.

No. 1

0.97

Miscellaneous.

Conise Granulated sugar 88.23-7.28

Selected Duck's feather...

Bird's white edible nest;"

selected

Dried Lily flower do....... Fishmaw....

Bird's yellow edible nest.

No. 1"

49.60 €3.00 120,00

9,720.00

100,00

CANTON TRADE NOTES.

*

Canton Central Bank of China robes tuve been fructuating recent 1. On Thursday evening, the $1 robe was quoted at 80 cents silver.

The raw silk market has remain ed fairly active but prices are as mual. Quotations un Thursday were:-14/16 at H.K.8913 und 20/20 at $60. About a hundred bales were sold

The cotton sarn market was very zetive on Thursday as demand. especially from the West River dia- tricts, was very heavy and prices advanced by four to five dollars According to a Shanghai telegram, prices there have risen by 80.70.

Markets

AMERICAN COTTON.

"APATHETIC MARKET.

THE HONG KONG DAILY PRESS. SATURDAY, JUNE 29, 1929.

HONG KONG SHARES.

WEEKLY SHARE REPORT.

HONG KONG, June 23, The local market has shown a slight improvement following the satisfactory negotiation of the small June Settlement on Tuesday last, and a moderate amount of business has been transacted.

Messra Pontreath & Co. have, kindly forwarded is the following. Prices on the whole, show little letter, dated June 4, from Messrs.alteration on the week, with the Hornby, Hewelryk & Co., Liver exception of Shanghai stocks which pool :-

have again appreciated.

Quiet markets have again ruled during the past week, and prices have moved within a narrow com- pass. Values show on balance a advance of 10 points for July and 16 points for October.

Banks Hong Kong and Shang hai Banks were done at 81,240 and continue in demand. The latest cabled quotation trem London is unaltered at 8139) (Middle).

Marine & Fire Insurances-å fair quantity of Unions were-book-" Cantons are ed at 8324 and 8395. slightly lower with a few shares offering at 8630. Hong Kong Firea changed hands at $760/770, closing with buyers at the latter rate and China Fires no shares offering. can be placed at $300,

Shipping. Preferred Indos have strengthened and were booked up Hong Kong, Caston and to $40. Macao Steamboats have receded to 825 Waterboats are enquired for Douglas Steamshipe are | quoted 827) nominal.

The result of the General Elec tion makes it probable that some uncertainty may exist in industry. It is a curious fact that, after all the bad crop news which has been circulated during the last twe or three weeks, the market has fail ed to respond and has shown a rather apathetic mood, During the last few days, for instance, we have had reports of excessive rains, of floods in Mississippi and Texas, of complaints of grass over, the whole of the belt, of the necessity of 821. much replanting, of low tempera- Lures both in Texas and Oklahoma, of numerous weevil complaints. and of. the Northern portion of the crop being from ter to fourteen days late: Some of the Mississippi levees have broken, and late fast night, we heard that another levee south of Greenville, Mississippi, had given way.

Docks, Wharves & Godowns.- Hong Kong and Kowloon Wharves were dealt in at $125, and close with further buyers at 81943 Whampoa Docks are a abade easier at $35 China Providents were put through at 84 and 84.05. Shang- hai Docks, are firmer and were negotiated at Tls. 135/137. Engineerings have likewise streng thened and were placed up to T1.8.80.

New

Lands, Hotels & Buildings.-Hong Kong and Shanghai Hotels are en- quired for at 88.85 after sales at this rate. Hong Kong Lands are obtainable at 8611, Humphreys Estates continue in request at 813

realised were

871 Shanghai Lands have had a sharp advance to Tls.347.

Only a limited amount of busi neas in piece goods has been done

Advices in Manchester.

from India have been disappointing. Textile advices from the other side of the Atlantic show no improve ment, and there are now more general expectations of a reduction in mill output.

Realty's perount of the altundant harvest of Kwangtung rice. Recently, large quantities. of sugar have been imported to meet the needs of the preserved fruit merchants.

No foreign rice is at present be- ing imported into Waithow from Fong Kong đã

Six private acreage estimates issued last week range from 1 pe: cent. to 4.1 per cent. increase Average 25 per cent. The average of three private condition estimates is 10" per cent, but, of course, it is far too early in the season to place reliance on condition reports.

at

THE WORLD'S MOTORS.

CHINA LAST AND LEAST.

Twenty-two nations with more than 20,000 motor vehicles registered are as follow:-

1 U.S.

2 Britain

23,251,674

1,617,732

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

"JUNE 2, 1929, H.K. Bak

$1,240 ba.. Do London 2132 mm, Chartered Backs $198 bay. Mercantile Banks, & &B...£93 nom. ...ion. Do.. P&O. Banka

......... nom. East Asia Bank...90 mm. Canton InsuIANČIOJL ...3630 sel. $324 100 Union InsuranDCU *****? North China Ins...Ts. 160 buy. [email protected]. Dis $50 nom.

Yazgtese

nam

Oline Underwriters ......$2.10 sel Das Fire Insurance...$300 China HLK. Firo las, 944 19 ...$770 bar.

baj

17) nom.

$1.00) *ni. Endo-Chinas (Prol.)......$43 buy,

(Def.) ...70 nom.

Do,

I.

Shell D

Baion

3. France

1,208,847

4 Canada

057,108

5 Germany

707.060

6

Australia

307,70-4

7 Argentina

968,047

HR.

S Italy

233,148

HK. Tog

0 Spain

104,900

10 New Zealand

139.28

1

Sweden

144,862

12 Belgium

130.000

13 Brazil

136.800

14 South Africa

133,900

15 Holland

119.000

16 Denmark

108,900

17 Switzerland

83,976

72,235

57,697

,833

Tronoh Mines

23,439

21,508

EK. & W. Docks.

Chins Providents

18 Japan

10 Mexico

20

Russia

21

Chile China

BUSINESS" MAN'S FILM. ROUND THE WORLD WITH

GESTETNER."

12

A large number of business people were present in Lace, Crawford's yesterday afteracer. Restaurant when an instructive àlm of parti cular interest to commercial con- terns was shown. Trade 5lms as a means of intercating potential cus tomers are, comparatively speaking, an innovation in Hong Kong and one could not help feeling impress- ed by the powerful appeal of this form of advertisement.

Benguets....... 320. Kailan Mining Admin ...61/9 nom. wi Lany hats (combined)...

Tin. 71 pol.

Do..

(angle).....

6har, Explorations......sel

Shanghai Loans

HK. & K. Wharfa ......$124 buy,

c.

Do. Da.

bay.

21/- buy.

95 nom.

$3.9 bay.

Thới bay 6.50 m 11a1371 bry.

Tix. 15,40 mol Ma và nôn

Hongkow......... Tis, 168 302. Now Engineenays. Shanghai Docks Kro Cottons Oriental Cottons... 8'hai. Castons (old)...Tim. 734 buy,, 75 sa

Do (now). Tl. 341 bay. FK.&. Hotels....... $8.60

bay

Tix 147 buy. Bina ghai Landr Lande Humphreys Baaie.... 13 by HK. Balties......... HK. Tramways ........$19.20 buy, & sh Peak Trama (old) $11.80 дош.

(new)........36.03 nom,

368 sel. Star Ferries ........... Dhins Lig

Lúghts, Cum. Rights.... $13.88 tray.

Ex Rights$12.90 nom.

$7,90 Kighi B.K, Electrica..: 1581 buy., 65ị xs.

$261 now. Macao Electrics... Baniakan Lights el

1. 14 bay. Telephones............37 bay. in Bus 11. 144 Bingapors Tractions......

(Prel.)......19/- bay. China Sugar

85 cts. buy.

Outon Ices

$2 buy. Malabon Sugars.... Cements (combined) 23 55 buy.

kel. (old) (now)....$1.40 nom ELK Ropes ....

85.Luy. United Asbesto Dairy Farms......$19 nom. Watrent

....$13 Dom.. Doz Salling the Goods.

80 eta, buy. Wing but A The film itself is a triumph of Lane Crawfords $18.

1 bay. Mackintosh artistic skill and clever photo-

Sinocreate

$12 bay. graphy. The second section showed Wm. Powell....... 8.3 sei. the methods of marketing Gestet.K. Amusements..... 129 nom. ners all over the worid. We saw

H.K. Constructions ...........alk now. the streets of Cairo, Alexandria, que Ladas. G. Bonds...67% nám. the shadows of the Sphinx and the E.K. Gort, Loana .........7% prem. buy. Pyramids, the dhows of Port Said, | bay-buyers, sel-sellera in—usler the jostling crowds of Palestine, and the rains of the civilisation of Ancient Athens.

In addition to depicting the vari. ous stages in the manufacture of the well known Gestetner duplicat ing machines, the film after dealing with the evolution of the duplica tor from the early days of copying in North London, to the Gestetner methods took us from Tottenham, Public Utilities.-Hong Kong paper mills in Scotland, where the Electrics have remained steady at special Gestetner duplicating paper 855 with sales reported at this is manufactured from Esparto grass figure and further buyers. China and wood-pulp. Next, wo "jour Prices of Chinese medicines have

Lights (Cum Rights) weakened for neyed to Japan and watched skil. the Settlement and were sold downful artisans making stencil pictures ren Comparatively high as hardly It is really rather a puzzling to 813.60. They have since recover by hand. any raw material" has recently market. The crop news at presented to 2 buying quotation of arrived from Szechwan oz account is far from good. Should the of the trouble-between the manor weather improve, no great harm militarist of the province. Chi- will have been done, and we may nese medicines are one of Sze-decline a little. but any decline chwan's greatest exports.

will certainly bring in a good spinners' demand.

The straw hat market is exceed. ingly dull this year. Stow bats have become very popular and. several new factories have been nil during the last few years in Canton. Now fashion was changed and straw hats have been largely cut out" by dun helmets, which are cheaper and more durable.

*

EGYPTIAN COTTON.-

{

Tis.13.85 Hong Kong Trams have been a firm market and after sales at 818.60 and $15.75 can now be played at 810.00. Telephones are wanted at 87. Star Ferries are unchanged.

Miscellaneous. The only feature in this section is the demand for Green Island Cements (Combined) which have come to business at the of .88.70. The Liverpool market for the improved quotation most part of the week has been Amusements have lapsed to L rather a see-saw affair, with trad-nominal quotation of 8201 Hong ing chiefly of local character. Kong Government Loan is Liverpool has been inclined to drag changed with buyers at 7 per cent. behind Alexandria, with a cone- premium. Siner Wachaw fell into the bandsquent widening of the straddle. be Nanking troops, Kyangtung | A sharp advance was seen Fester money has taken the place of the day and at the opening this morn deprecinted Kwangsi money. This ing influenced by the strength of is causing a number of disputes as many people refuse to pay in Merchants Kwangtung currency, have agreed to accept 72 per cent. Kwantung money and the rest in Kwangsi money in settling their accounts.

The groundnut oil market is steady and there has been a fairly demand owing to the drop in prices and to the shortage of both supplies and stoica. Prospects are quite good. The camellia-nut oil market has also become steady and prices are firm as there is a brisk demand. The wood-tar all market is inactive and consumption has fallen. Bean ! is normal. Prices for grounds nut oil. camellia-nut oil, wood-Lar oil and bean oil on Thursday were: $91.70, $20.50, 20.00 and $17.50 per picul respectively.

CANTON STOCK EXCHANGE.

- CLOSING QUOTATIONS.

CANTON, June 97.

..... 83,70

Water Worka .... Electric Light & Power Co.... 4.10

Canton-Hankow Railway

.00

The Sun Company

17.00

Sincere Company

12.00

Nanyang Bros. Tob. Co.

Kwangtung Tramways Co.

4,30 2.60

China Merchants' S.N. Co.... 35.00

Central Bank of China

43.00

EXCHANGE RATES.

[BRITISH WIRELESS SERVICE.] »

Paris

New York

Brussels

Berlin

⚫ RIGBY, June 27:

123,903 4.84 20/12

31.90

Geneva.....

25.193

Amsterdam

12.07

Milan

$2.675

90.35

Stockholm

18.09

Copenhagen

18.205

Oslo

Vienos

Prague Helsingfors

Madrid

Lisbon

Athens ***

Bucharest

Rio

Buenos Aires

Bombay

Hong Kong Yokohama Silver (spot) Silver (forward)

18.195 34.50

3834

1934

34.25

108

375

817

51 47 9/32 ..1/8 97/32

1/11 1/8 23/32

241

24 3/1

Cotton Mills--Ewos were booked up to Tis. 13.10 and mark a fur ther rise. Shanghai Cottona (Old) are higher with sales at Tla.76.

hands changed

Returning to Europe, we paid a hasty visit to Copenhagen, Amster dan, Brussels, Budapest, Berlin, Rome, Venice,

Milan, Vienna. Poland, and Sanny Seville. with a thrilling bull fight especially filmed for our entertainment. A brief glimpse at the international mator Taces in Switzerland, and then, Orientals

once more, we obeyed the call of Writing on the 23rd inst., one of Tis.2.30.

the East and took a peep at the Alexandria

Exchange. The TT. correspondents

Calcutta races and enjoyed · the says that the recent demand for London to-day 1/11 and on Shang-excitement of a fight between a Ashmouni cotton failed to revive hai 82.

bullish interest, n алу

Forward Settlement Days-30th mongoose and a cobra in Bombay.

Native carnival scenes in Cape July, 27th August, and 24th Sep- tember, 1920.

American.

large

quantity of this cotton remaining in the hands of resellers who take advantage of any scattered demand to liquidate their engagements.

As regards Sakels, our friends say that strong interests are con tinually bulling the market which their efforts, as supplies of Egyp- shows, however, slight response to tian Sakel and Sudan Sakel show an increase compared with this time last year, whilst the demand is smaller.

The Egyptian Government's final $53,307 cantars: Other growths estimate of the Sukel crop is

5,313,835 cantars: Total 7,847,152 cantars.

The Government has de cided to sell by auction its old holdings of cotton and to replace by purchases of current season's stocks in Alexandria,

This week. Last week. July Amer. 0.00d. e.sod. Oct. Amer.. 0.88d. 0.72d. July Empire 9.87d.nom. 9.58d.nom. July N.Y. 18.41c. 18.50c. July Eg.

Sakel 10.75d.nom. 16.30d. July Eg.

11.100.

Uppers 11.43d. July Alex.

Sakel T33.56 T32.46 June Alex.

Uppers T20.50 nom.T20.23

COTTON EXPORTS.

MANCHESTER GOODS.

["D.P." Special Service.]

the

Manchester.-Businese in cloth market has been characterised by a lack of vigour, and the total turnover for the past month leaves very much to be desired.

China is not attempting to buy very much, though there have been Home inquiries for prints and fancies, and even one or two for greys, but the continued weakness of the Shanghai exchange makes it almost impossible for salcamen bere cept-ofers from the other side Small lots of greys have been taken for Singapore, but customers in Java are making no replace ments worth mentioning.

at

rate

on

PUZZLE OF TIN PRICES. POSITION OF THE INDUSTRY TO-DAY.

["D.F." Special Service.]

It has been a puzzle to many to reconcile the price of tin at Home position. The returns of the past lately with the general statistical

from the Straits totalled 9,155 month show, that the shipments

tong, and this with contributions from elsewhere made 12,751 tons.

Against this amount, deliveries into consumption were particular- heavy, representing 13,429 tons, ex ceeding all previous records and making an inroad upon stocks which are none too heavy.

tons.

The United Kingdom absorbed 1,772 tons, the Continent 2,450 toas, the United States 8,430 tons,

737 and other countries American consumption alone for the year so far averages 8,129 tons

compared with per month, monthly average for the whole of last year of 6.572 tona.

#

A little slackening off is expect. ed during the summer months, 1.5 usual, but there is every indication that consumption will be maintain- ed at a high rate. In spite of all this the price of the metal is con- siderably down as compared with the end of last year.

Town heid our interest and then we

whizzed through the crowded streets of Singapore. The quaint trains of Batavia gave place to lovely views of Thursday Island, "The Pearl 'Fishers' known S Paradise." Views of Port Darwin, Melbourne, and Sydney were m- cluded in this section.

.

Chine was the next call and the views of Shanghai were specially interesting. Again, we "weat" to Japan and the beauty spots in the antly to views of Kobe, Nara, and vicinity of Nikko gave place reluct

terest was Tokyo. One itein, of especial in

a Japanese typewriter possessing 2,200 charactera!

A call at Honolulu ted to a visit to Canada:

One found evidence of the pre- zence of Gestetners in every land and one admired the enterprise of the firm.

Messrt, Lane, Crawford, Ltd, the local agents, will be pleased to supply further details of the dupli- cators on request...

**HAZY ECONOMICS."

SIR HUGO HIRST AND AUS- TRALIAN INDUSTRIES.

"Think of Australia as if it wLS 48 near as the Isle of Wight and co-operate with it," said Sir Hugo- Hirst, in an address at a luncheon given recently by the British Ex- gineers' Association. At the time he was urging that Australia need- ed scientists and engineers to go out and study for themselves from the Australian point of view.

$5,000,000 ON ROADS. AN, AMBITIOUS PROGRAMME. "Four-sixths of the people of "Australia," he said, "live in towna as beautiful and as up-to-date as ["D.P. Special Service.]

anything here or on the Continent, with Winnipeg, Man.-Manitoba has an

first-class administration ambitious road building programme, based on ideals, yet we grumblo of 502 because they desire to start indus- involving the construction mies of new highways and resur tries.

"True, they went into them facing of 088 miles of trunk roads

without studying economies, and at ad aggregate cost of $3,600,000.

Outlined in the Legislature by the result is that high wages and Hon. W. R. Chubb, Minister of artificial conditions are entonger- Public Works,, it was shown that ing the secondary industries and the expenditure on roadways in getting stranglehold on Manitoba during 2020 will total print and uries COMOT 95,000,000 including work to be-don tive both employers and employed by, the municipalities under the must improve their hary econo Good Roads Act.

mica,"

the

D

Do.

Do.

nam-cominki

THE CHINA FAMINE.

PROPOSAL TO HELF AMERI-

CAN FARMERS.

LONDON. Visitors to London will find the com forts and amenities of a home at

TREBOVIR HOUSE." Advantageously situated. Ons minutėms Tube Station. Ten minutes-Piccadilly and Kensington Gardens Large-Sunay Rooma Constant Hot Water. Excellent Chisina Highly recommended by Officers

and Families Fall Board Residence.

In connection with the plight of American agriculturists, due to the break in wheat prices, Senator Nye (Republican, North Dakota) | St. has introduced & Bill in the US Single Room from £4-17.6. Double from Senate to authorise the President gue, Far Week, 14, TRBOVIR ROAD,

EARLA COURT, S.W.. to make expenditures to the extent of £40,000,000 to buy wheat, and ship it to China for the relief of the starving people.

The Chinese Minister states that 37,000,000 people in China are in distress, but President Hoover is reported to have told Senators. Capper sad Allen, of Kansas, who support. Mr. Nye's proposal, that his information indicated that hot more than 5,000,000 bushels of wheat could be used to advantage

in China at this time.

JAPAN'S STEEL

IMPORTANT DEVELOPMENTS.

1

CHOSEN COTTON MARKET.

HAND-LOOMS STILL BUSY.

!" D.2.” Special Service,]

It is many fears since the

of the

hand- clickery-clack" loom wha heard, but the pro-

duction of cotton cloths in the.

old way still flourishes in many Eastern countries, some to A truly remarkable extent. Accord INDUSTRY,ing to a report by the U.S. Con

sul-General in Secul, nearly million families were engaged in home weaving in the Peninsula of Chosen in 1928, when no leas than 100,000,000 yards, valued at about nine million dollars, were made.

Dealing in their periodical with the industry and trade of Japan.. the Guaranty Trust Company of New York, says that one of the most important features of the modern economic history of the, country in the growth of the steel industry, which has been possible only because the Government was in a position to facilitate the ex- pansion of output, thus making up for the many natural economic dis- advantages

The caraings of the steel pro- ducers have not heen very satisfac- tory since the war; but the "indus- try is gradually entrenching itself on a firmer basis, and it is report ed that steel prices are likely to be raised in June Production of steel in recent years has averaged about 1,500, tons annually, and at this level is well above thas of 19:20. Improved and enlarged plants are being erected, indicating that that the producers have faith natural disadvantages can be over- come and that Government aid can be relied upon to continue.

The output for 1027 is not avail alle, but it was then valued at ten million dollars and the industry and some half a dozen milla ware quite unable to cope with the re- quirements of the country, which, as everyone knows, is peculiar for its voluminous robes of white. Japan has a virtual monopoly of the imports of cotton fabrics, Britain's small share being condo- ed to the better grades.

Chosen's total imports of piece to 158,032,000 square goods came yards during the first nine months Grey sheetings account of 1928 for over one-third of the total and were almost entirely supplied by Japan.

war

The market for bleached shirt- ings was formerly entirely British, lost the market but the By 1927 Britain managed to regain some of the lost ground and sent 3,033,000 square yards, though the Japanese share was still more than twice that quantity. -

An Expert, Reliable and Energetic REPRESENTATIVE for HONG KONG is Required to deal with SADDLES AND TOOL BAGS for CYCLES and MOTORCYCLES on Commission.

I

"}

When Applying Please send References from German or English Firms of the Cycle Trade or Well-known Bankers

to

41

21

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