1929-07-03 — Page 9

Money

and Markets

HONG KONG MARKET HONG KONG TRADE.

REPORTS..

شبس

Yesterday's quotations for rice TEXTILE BUSINESS STILL

and other foodstuffs were 49 follow:-

Common White

Rice.

Per Picul.

97.06-0.97

Broken, Red Seal........ Granulated, Back Seal

Reddish Cargo Rive

6.67 3.70 6.10

Long

nglutinous, Bed

Seal

*.08

Miscellaneous.

"Coarse granulated sugar,

No. 15

Coarse granulated sugar,

Course granulated sugar,

No. 20

No. 24

8 6.39 1

6.38

7.03

Dried

Bird's white edible mest,

No. Bird's white edible nest.

No. 2

Thing

Mushroom.

Koo

1,430.00

1,080.00

160.00 7:50

6.80

Canned Green Bean Soy Bean

GREEN ISLAND CEMENT,

INTERESTING RUMOUR.

Those in close touch with the share market are expecting to see a move in Green Island Cements very shortly, as there is a rumour to the effect that the company will shanty cease to be conducted under the management of Messrs. Showan Tomes & Ca

A ranour to this effect circulated in Ice House Street yesterday, and one broker gave is as his opinion that should there" be any truth in the report, there is bound to be a little -Butler in these shares.

Although we have endeavoured to confirm this news, it has not been possible to obtain confirmation. However, shareholders will not be kept in suspense very long as to whether, the depart is well-founded or not.

SILK TEXTILES.

CANADIAN CO SPONSORED BY STRONG AMERICAN

GROUP.

"D.P. Special Service.

i

QUIET.

The fortnightly report of the Hong Kong General Chamber of Commerce contains the following

references to the textile trade-

The reports and prices are pub lished by importers, and the Cham. her cannot necept responsibility for the accuracy thereof.

Cotton Piece Gobds and Fancy

Octton Goods,

N

The following reports have been

"eceived-

THE

HONG KONG DAILY PRESS, WEDNESDAY, JULY 3, 1929.

DEVELOPMENT OF

HARBOURS.

COMMONS APPROVES LOANS TO CANADA.

$20,000,000 EXPENDITURE

:|

APPROVED,

["D.P." Special Service.]

Ottawa, Ont-Large programmes of port development in Canada were advanced a stage when the House of Commons approved Bills providing for

and

।

EMPLOYMENT OF THE MONEY MARKET

ALIENS.

RESTRICTIONS ON ENTRY.

CHINESE BUSINESS-HOUSES

HANDICAPPED.

SPECIAL PERMITS REQUIRED. STRINGENCY, DUE TO MANY

Latour.

FACTORS.

in the Colony..

In conversation with our repre- sentative this merchant-banker ex plained that the fifth and sixth moon of the Chinese year are usual- ly dull months for business, and this seasonal depression in trade has the effect of releasing a lot of money market should be easy money on the market, so that the

This year, however, the usual state of affairs has been reversed, and the cause can be traced to several factors, The recent fight- ing between Kwangtang and wangi had the effect of bringing a good deal of money into the Colony, which, however, has since returned to these provinces with the

sution of hostilities.

A. White Paper Isaed recently.

That business in Chinese circles contains a memorandum by the in Hong Kong is unusually difficult Minister of Labour on the proce-this year, owing to tightness of the money market, was revealed to a dure regulating the entry of for Daily Press representative yester eigners for employment in Great day by a prominent Chinese barker Britain (Stationery Office, Cmd. who has large commercial interests 3,235, price 28. net). It is explain- that in general the control of an aggregate in administrative provisions in this loans to harbour commissioners of matter is in the hands of the Home $20,000.000, The Bills which re- | Secretary, but in alles is not per- ceived third reading and were pass-mitted to land unless, if desirous and now go to the Senate for of entering the service" of an em approval provide for a further ployei, he produces a pézmit in loan to the Montreal Harbour Com-writing for his engagement issued mission of $10,000,000; "Vancouver to the employer by the Minister of There is no change to report Harbour Commission $10,000,000; the tone of the market. Whatever Halifax Harbour

This requirement of a permit is Conimission

additional to other conditions in business is passing is practically $5,000,000; Three Rivers Harbour pesed by law. The Minister's per confined to small sorting-up lines of Commission $2,000,000 Chi-mission, however, is not necessary various Light Fancies for shipinent coutimi Harbour Commission to enable a foreigner to enter in

order to take up business on his. at the end of the year. "Spot "

$2,000,000.

own account, or to accept the posi. offinke shews little or no improve.

Explaining the purpose of the tion of director of a company re- Value of Middle Amerienn kan so the harbour commissioners gistered under the Companies Acts. pent. Cortop haa Buctuated within nar of Montreal, Hun. P. J. A. Car The number of foreigners perman-

din, Minister of Marine aadently resident and gainfully e row limits and is quoted" 10.35 Fisheries, gave details of the pre-cupied in Great Britain is given Spot," Egyptian, -Sakel is 95 posed expenditures iLS follows: in the census of 1021 as:-Males, Three new, berths at Laurier wharf, 110,279; icmales, 32,447 total, points lower at 15.93,

$2,000.000: reconstructon of King142,723, being approximately 0.7 per There has been a slightly better

Edward and Laurier wharves, ent of the total population gain sone in the market, with' enquiries $2,000,000; extensión of railway fully employed. Many of these. for miscellaneous lots. A little new electrical system to eastern section people have been resident in the of harbour, $1,500,000; extension of country for many years, and a business has been done but gener-grain conveyor system. $1,000,000: number of them were born here. ally speaking there is no demand of industrial wharves, 8000,000 new

They are therefore to be regarded, Clearances have berthing facilities, 84,000,000; ac in so far as they are employed per- any importunes.

suns, as part of the labour avail- shown some improvement, but it quisition of lands, 81,000,000.

able in the country. is a prohlear to bring dealers to take delivery of spring cargo, owing to market values having declined the last few weeks. The advantage of easier Manchester prices has been mitigated by the continued weakness of exchange...

Woollens, Nothing to report..

New Ocean Pier.

TO OPEN Remove capcale raise lever and pash upwards

Haig

TO CLOSE

Keplace can and push

Jever down

1

NEW BOTTLE SEAL

ין

·

(NO CORKSCREW)

*

SAFE

QUICK CLEAN

Nobody can put better Whisky into any bottle than that which goes into the Haig bottle..

Silk business this year harpens to be as its height during the pre- Beat season, ned quite a good sum has gone to China for financing this business, and interest at 13 or 14 per cent, per annum is paid on such advances Native banks are taking full advantage" of the high Sole Agents :— rate of interest prevailing, and in this way much of the money usually deposited in Hong Kong during the suinmor has found its way to Can- ton this year.

Another reason for the difficult position of the market is that, owing to the general depression of business in Hong Kong arge sums of money are tied up in Central Bank notes, which have been rurchased at fairly cheap rates, The Vancouver. estimates include

Safeguarding British Workers.

buyers hoping the notes will be ro $5,500,000 for the development of a The admission of newcomers is deemed at par when conditions "re, rew, ocean pier" and 81,300,000 for closely restricted to safeguard thevert to normal. It is estimated wharves for vessels in coastal trade, interests of British workers in view that from $3,000,000 to $10,000,000 Fsh wharf and fish storage, cold of the present condition of unem

is tied up in this way. This is storage, and grain jetty, eta Imployment. An employer applying another reason why the money

permit portant additions to grain handling for.

Is required to market is tight at the present

moment. facilities are provided for in pre- give a guarantee that no labour posed increases in the capacity of

29 displaced; he must prove the harbour commissioners No. 1, that every possible effort has No. 2 and No. 3 elevators, these been made without success to find Cotton Yarn.

extensions

7,500,000 suitable labour from among per- aggregating Practically, no business has been bushels storage capacity and involv manent residents, and that the reported during the fortnight, and ing an expenditure of 83,000,000. wages paid to foreigners are not the market continues very quiet.

For redemption of Vancouver Har- less than those paid to British workers for similar work. The Frices are

on the easier side, our Commission matured mort nominal quotations being as folgo notes, a sum of $1,050,000 is Department consnits representative

provided.

organizations of employers and flows:-Not 10s. $100-170; No. 123.

8170-150 No. 10s, 180-1857 No. Speaking on the proposed loan

workers in all cases of doubt and difficulty. 30%, 8190-195. Arrivals, ail Shin- of $10,000,000 to the Vancouver Iments, il Sales, nil Unsold board, Mr. Cardin stated that last stock: 1,400 bales, Bargning, 4,100 year grain deliveries at Vancouver

amounted bales.

Raw Cotton,

No sales to report.

CANTON TRADE NOTES.

high,

perw

Rice merchants are confronted with a serious problem this year, as the money market directly affects their business. Due to some dis pute in Canton, Jarge stocks of rice are stored in godowns and cannot he released because it is difficult to raise money to meet bank drafts.

Another reason for the exodus of

money from Hong Kong is the favourable rate of exchange on Shanghat. This has caused many financiers and barkers to send money to Shanghai to be returned here when the rate drops again.

Our representative was told that, in addition to the causes stated above, the end of June is the time

It is the practice to grant permits freely (except that the periods are to 97,930,546 bushellimited) for entertainment which he contrasted with 35,000,000 formers of international reputa- tion. Permite are similarly grant- bushels in 1924, Dap se ships woning Into the harbour. in 1927ed, with a time-limit, for perform-

ances presenting special features of for genere settlement among non. totalled 1,100 and in 1928 there

Chinese firms, which further aggra- were 1,300, an increase of 200, he novelty or attractiveness.

foreigners; Young

male arvates the present stringency of the said.

female, who desire to take up money market. supernumerary posts in offices, banks, etc., for limited periods in

The largest item in the proposed expenditures at Halifax is for Pier bour Commission proposes to spend 83,741,500, Transit sheds on Pier

are" to cost 8410,000, a pro A posed revetment wall $400,000 and a million bushel' addition to the grain olevator 8300,000. The total programme for improvement of the Halifax terminals $5,100,000.

amounis to

our language and business methods, are specially treated. Lesue of per- mits to them is desirable if only to secure similar facilities for young Brtish subjects who seek to obtain foreign experience by temporary employment abroad.

ལྟ་

Valuable Links.

Montreal, Que.-Immediate de velopment of a new and important textile industry in the Province of Quebec is foreshadowed in the an nouncement that the Textile Com- pany of Canada, recently organized with fully paid-up capital of $1,000,000, will establish a plant at Louiseville, Quebec. Although sik materials will be manufactured ex- The cotton yard market has been"B" on which the Halifax Har-order to acquire some knowledge of clusively at the commencement, it active during the last few days. is planned to add other lines. Prices of No. 20 and upwards have The new company is sponsored risen by two to three dollars. In by strong industrial group, the Shanghai, quotatious have also been personnel of the directorate re presenting a consolidation of fifteen milla in the United States. Promi- nent clothing manufacturers and bankers are on the board and it is stated that the combined resources of the group are over $100,000,000. The president and managing director is Phil Fainer, president of Fainer Ladies Wear,

The match industry has been .Ltd... Montreal. Other directors slack during recent months, and are Jerome Roth, of D. H. Roth and several manufacturers have closed Co. bankers; Lawrence Marx, their factories. This is attributed president of Cohn, Hall, Marx; Homer Loring, president of Mer- to the importation of matches from chants' and Manufacturers' Cor- Japan and Sweden. paration; J. Trumbull of Kidder, Peabody Co., bankers; J.__W. Merchants dealing in Japanese Schwab, treasurer of Cohn, Hall, linen are doing two thirds less Marx: S. W. Jacobs, M. P., business this summer than last. attorney, Montreal and Sol Stroock, Since the anti-Japanese Boycott of Stroock and Stronck, attorneys. ended, large consignments

Prices of both foreign and Kwangtung rice have fallen and firewood has also dropped, as there have been large arrivals of both these commodities from the river districte.

*

are

"Moreover," the report adds, foreigners who have gained ex- rerience in this country valuable link later on in life for the furtherance of British export trade. Care is taken that these facilities are not misused by em players who desire to obtain cheap Clerical labour.'

Three Rivers, included in the votes of inaney for harbour deve lopinent with

of amount An $9,000,000 for the provision of seven, additional berths, is an im portent manufacturing city on the St. Lawrence river and also serves Shawinigan Fala, Grand Mere and other growing industrial towns.

A permit is generally for a limit At Chicoutimi which is an equally important port at the head ofed period, from one week up to 12 navigation on the Saguenay river, months. In certain circumstances other conditions are also imposed. the harbour comissiones propose to extend the wharf at present Before the War there were some ce under construction for an addi-cupations which were normally re tronal 2,100 feet, which is the pur-cruited from abroad. This is not now permitted as a normal feature of pose of the loan of $2,000,000 to A property consisting of twelve Japanese Knem have been imported the Chicoutimi Harbour Commis

of any accubation; employers are acres has already been purchased | Lut the demand has been limited as

sion. In proposing the granting of required to train and employ per- and the plans of the new organiza- the prices have increased under thei

sons already in the country. loans for these amounts to the bar. tion umbrace construction of a New Tariff.

keur commissioners of Three Rivers building for $225,000 and the instal.

and Chicoutimi, Mr. Cardin refer- lation of machinery and equipment

Passenger and fight charges were

red in glowing terms to the rapid order costing in the neigh raised on the steam inunches plying development industrially around bourhood of 8600,000. The main between Wuchor and Canton or the mouth of the St. Maurice river building will be two storeys high, Hong Kong during the fighting on and in the Saguenay region of and will provide at the outset the West River. Now that Kwang Qucher province and the urgent 20,000 square feet of manufacturing space. A total of 150 looms will be tung inoney has taken place of the need for additional port facilities initially installed, it is stated and wangi money the proprietors of at these points, the plant will constitute a complete unit, consisting of weaving, throw- ing, dyeing and printing.

NOW

the vessels have decided to return to the old rates.

An indication of the large-scale The Canton Municipal authori- operations planned is gleaned from ties have decided so impose a fest the statement that 400 hands will be of quality on all cernent imported employed at the start for a single into and sold in the city. The shift, and that it is intended to Provincin Government has in- operate some of the departments structed the authorities of Hainan three shifts.

Island, to prohibit the importation Louiseville, chosen as the site for of a certain brand of cement from this important new industry, is Haiphong, which was found upon situated on the St. Lawrence riverfest by the Canton Authorities not. about 25 miles above the growing to be sufficiently adhesive. manufacturing centre of Three

*

[

BUILDING ACTIVITY. -

UNPRECEDENTED LEVELS"

IN CANADA.

["D.P." Special Service.]

set Up

13

The effect of this policy is in- stanced in the following occupa tions:-Mosaic and terrazzo work rre, hairdressers, and waiters. The hairdressing trade has several schools and training estab fishments. Leading employers are now training British youths waitera. A regular system of ex- change has been arranged by the Ministry between British trainees seeking experience" in France and Switzerland and French and Swiss youths desiring British experience.

Permits are also issued to foreign technicians to assist employers in cutablishing new industries and new processes in existing industries.

Ottawa, Oat Building in the same month of last year, an Canada continues at unprecedent increase in the first comparison of e levels. In the first four months | 35,563,641 or 23.1 per cent. and of of 1020 building permits totalled $11,019,830 or 59.2 per cent. in the 872,510,702, an amount which the second.

The returne from 61 Canadian Rivers. It is also close to Shawini- The importation of Japanese con Dominion Bureau of Statistics says gan Falls and is in, the territory last month also showed a decrease exceeds that for any similar period cities were tabulated. In a long served with power by the Shawini-while more conl was imported from since the record was begun in 1920. list of cities representing more than for the elapsed half the total number increases gan Water and Power Company, the Dutch Indies, Haiphong and The aggregate through its subsidiary, the Electric India. Practically no Kailan months of this year is 820,747,197 were recorded in April over both Service Corporation. Over 1,000 (Chinese) coal has arrived on no- above the total of 851,760,503 for the preceding month and the cor- horse power of electrical energy, it count of the strike in the mines. the first four months of 1028, the responding month of last year. Of is stated, will be required by the The total amount of foreign coal previous high record.

the larger cities, Toronto and Win- new industry. Raw material will imported was over 20,000 tons of The April figure as reported by nipeg registered increases in both perimported from darker XXX Momthe Bazan $10.421.00, 15.com/xE02.Wheres Morissa). in duty free, says the announce Japan, about 6,300 from the Dutch pared with $24,057,450 in the pre-showed & decine from the preced ment, and the rayon required will Indies. 4,100 from. India and 3,000 seding month and $18,500,167 ining month but was higher than in

from Haiphong.

(Continued at foot of next column). 'Apríl 1928. be purchased in Canada,

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

JULT 2, 1929. H.K. Banks

..$1,240 bar. Do., London...2131 nom. Chartered Banky ......$19 buy. Mercantile Banks, A. LB...£33 nom.

£9 Do,

0...215; nom.

P. & O. Banks

$90 Dom. $639 sel.

East Asia Bank Canton Insurances... Uzion Insurances.......$3234 bay, Nerth China Ias. .......................?

1. 160 Day. Yangtere Insurances....... $50 nom. Chica Underwriters ......59.10 sel. Ohins Fire Insurances...3300 buy. HK. Fire las

...$770 bay. Douglases H.K. Steamboats.....

...326 sel. Tags ... $2,80 · Indo-Chinas (Pref.......$45 bay.

E

Do. (Def.)....$70 nom. Shell Trasport 22 Union Waterbost....................... $22 nom. Bengsets.

Tie.

buy.

21/buy

Doctors are using it

Judges are using it

Sufferers from acidity And it preferable to any other stimulant

GANDE, PRICE & CO., LTD, TEL. C. 135.

TRA SPEC

LAND

Wand fully

ES MARCH GLASGOV

Burge

WASTE STRAW. CONVERTED INTO LUMBER

["D.." Special Service.]

5721

Hong Kose

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

Sole Agents:--

T. E. GRIFFITH, LTD.

•

TEL. 3517.

BALLANTINE'S

in use for almost 100 years.

ESTABLISHED 1827.

By Appointment to

Regina, Sask.-A new use for waste straw is being developed by a company incorporated in egina for the manufacture of strawboard to replace ordinary lumber in the construction of buildings, and one H.M. The Late machine has recently been placed in Queen Victoria operation on the farm of T. A. McCusker, one

mile north. of Regina The product is called! Solomite and Dr. E. A. Me- Cusker of Regina is organizing the

Solomite Company of Canada to manufacture the new building ma-

H.M. The Late King Edward

VII.

and

His Majesty King George V

terial. Patent rights for Canada PURE SCOTCH LIQUEUR

have been acquired.

Kailas Mining Admin ...63/9 next. Langkats (combined)......Tim. 14 sel.

Do (ixgio).................Ta. ?j so!.. 'B'ba 6 ha. Explorations. T. 2 sel. Shanghai Loans Boube Trueh Mines. HK.K. Wharts

$124 bay. HLK., & W. Docke...... $35 nom.. China Providents

********** q, 168 20m.

$3.96 bay. Hongkawi. 6 buy, New Engineeringe Shangbai Docke ----....15. 137 nom. Ewo Cotions Tên. 13.20 bay, 1925 Oriental Cottons... Tls, 2.20 buy.. B'hai. Cettons (old). Tia. 181 bay,

Do. (new)

Tis. 341 boy. H.K. & S. Hotels. ...$8.55 bay, 8 sel.the product being laced with wire and turned out in boards 14 feet HR Lands

..$61. bay, Ox sel. Shanghai Londo

long by five feet wide and two in- Tis. 147 buy,

thes thick. The machine turns out Humphreys Estates.....$13 buy, AK, Ellies...........$2.00, bay.

4,000 square feet of straw board per H.K. Tramway.... ..... 19.10 sei. day. It is contended that the Peak Trams (old) $11.80 non product is fireproof on account of

Bo. (new)........

the pressure to which it is subjected Star Ferries

and that it possesses insulating qualities to a high degree..

9.27 nel

..$8.05 nom.

$85 Bal

China Laghi, Cum. $13.86 bay..

Bights... 1390.95 Do. Ex Hights....$12.90 nom. Da.

Bights $7.90 DOOL Masso Electrics........326) 20m. H.K. Electrics ༢༢༤༠༢ ༦

$551 buy. Bandakan Lights Chine Busss Telephones............37 bay.

la 16 bay. Bingapore Tractions.

Do, (Pre)......19/6 kuy. China Burara

85 cts boy. Malabon Bugars ...$27 nom. Canton Ing Camants(combined) 38.70 buy

(old)....$7) neli (new)

.40 nom.

Do, Do.

The machine, it is stated, com- presses the straw under a pressure of 100 pounds to the square inch.

E.K. Ropes start. 7 zeki United Asbestos ....... Dairy Farms

..819 доп

Watsons

Der A Wings anun

ane Crawlervisiems,

Biaceres

W Powells.

35 buy.

..$13 nom.

..80 ote, buy.

$11 sel.

H.K. Amusements.........

H.K. Constructions......

87 bay.

nom.

Eque, Indus. G. Bonul 67% nain,

buy-buyers, sel-sellers ; samanley

not-comɔnal.

WHISKY

10 years old.

GEORGE BALLANTINE & SON, LTD.

GLASGOW AND LONDON. DISTILLED IN SCOTLAND

If you want a really first class Scotch Whisky at a reasonable price, you can

have no better than Ballantine's Liquenr Whisky. It is excellent.

The Fronok Store:

Beaconsfield Arcade.