1929-07-12 — Page 9

Money and

RAW SILK.

AWAITING CROP REPORTS.

Markets

COMPANY DENY A £500- A-YEAR VOTE.

MANAGER NOT ENTITLED TO

A PAYMENT. ...

Moses, Pentreath & Co. have forwarded us the following letter). dated June 17 which they have received from Messrs. Hornby Hemelryk & Co., Liverpool:-,

Compared with prices ring arought by Mr. Alexander Samuel

week ago, valuce are about de. to be higher.

"Judgment was given by Mr. Justice "MacKinnon in the King's Bendi Division in the nation

Nowmark, of Lyndhurst-gardens, Hampstend, against Ronen, Ltd., of

The New York certificated stock on the 4th inst. was 3,700 bales, Holhorn.

THE HONG KONG DAILY PRESS, FRIDAY, JULY 12, 1929.

NEW YORK STOCK SHANGHAI® RUBBERS.

EXCHANGE.

**BULLISH" TONE CONTINUES.

NEW HIGH LEVELS REACHED.

14

"D.P." Special Service.]

BIG RISE REPORTED.

The following cabled quotations vrevived "yesternay in Hong Kong by Messrs. Benjamin and Potts from their Shanghai Office show a big advance over last week's prices:

Angio-Favas

Batu Anams Chemors... Consolidateds Kroewocks Repahs... Tanah Merahs Tebangs Zinngbes

New York, July 2-Yesterday's Anglo-Dutch Bullish tone continued on the New York Stock Exchange to day, enrry ing leading industrial and rail issues to the highest quotations in their history, says the daily report of the Dow Jones Financial News Agency.

Millions of dollars of market

Last week's Thurs quota- day's tions: prices: 88.30 80.73

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

JULY 11, 1929. H.K. BLAN

.....$1,258 bay. 1,150 m. Do., London...£19 nom Chartered Banks Mercantile Bank A. B...£33 nom.

.......$19 bay. Do

P. & O. Banks

GUM

East Asia Banks.....190) rom. Canton Inauraçao... ...$330 xom. Union Insuransen.........

buy. North China Ins.......Tia 100 North

bay. Insurances...

M. $50 nom. Yangtze

Ohias Underwriters $110 sel Chins Fire Insurances... 305 bay. H.E. Firo las....

...$770 nom.

Douglas raš374 nom.

., 25 sel. ...124 H.K. Tag R 32671 buy, Indo-Chinas (Pref. 47 buy

4.60

3.83

.95

1.00

1.75

2.10

3.70

4.00

H.K.

Steamboats

2.60

3.00

1.33

1.70

1,30

168

2.50

9.83

Dzion

*.50

1.2

Da (Def.)....$70 nom.

Bhallarboats.........

...... 93. nem,

199 под Bengueta............ $3 nom.

NEDERLANDSCH INDISCHE,

made up as follows:--Grade A 1,775 Mr. Newmark claimed £3,433, des, & 100, 113, 190, 30, which he said was due to him as P 75, W 10. X 23. Y 10, anil % 33.

our mail advices director's fres, sainty as managing According to from New York, the large forward director, and commission on profits. purchases recently made by maau- ! facturers have been somewhat of awed "£3,000, but counter-claimed Farrprise in view of the uncertain.

2,804, of which they alleged that ties of the new Japanese crop Ins had been drawh at the rate some "quarters . is believed that of £300 a year, without authoriis. most of the important manufact and the rest was for interest wronging, which ers have covered heavily for the early autumn and are hoding back by paid and for goods sold.

Explorations Reneo, Ltd., agreed that they value were added during the course

for cheaper prices.

had

May consumption figures ittle effect although the daily a age was lower than last month. Generally speaking the market Seems to be awaiting definite ad viets as to cacoon prives and the size of the new crop. The next months usually bear the brunt of selling pressure, and, unless some bullish trop news is forthcoming, lues may chow some deeline from the present level.

Judge's Finding.

Mr. Newmark canterded that the 500 a year was voted to him for extra services in connection with A company owned by Runeo, Ltd.. and that the other directers know that he drew it.

of the altergoon's trading.

United

Steel and Rails,

11

HANDELSBANK.

!

.

Ksilan Mining Admin ...68/9 nom. Langkats (combined)...........The 14 bay.

Dio. (single)

T2 93 buy. ..Tim. nom. ..Tis, if buy. Shanghai Loans Baub ****

#7 bay. Troach Minsa

11. bay H.K. & K. Wherte.

315+ buy. 135 2032 Chins Providenta Hongke vaca New Engineerings Shanghai Decks Evo Cottons Oriental Cottons

$4.33 sl., 430/ 85 xa.

169 0.

... Tls. & boy.

115.139 boy.

Th. 14 buy.

Th. 2 buy.

S'hai. Cottons (cid) ...... Tis. 76y bay,

Do.

(new)... Tix. 37) bay.

H.A. & S. Hotels...#51 bug. 8.60 sol. EK. Lands... SU Uny, öl sel., 60 ss. Shanghai Lands Cis, 117 buy.

After the early selling this morn- DECLARATION OF DIVIDEND. HE & W. Docks

easily absorbed, !"

The loen branch of the above States soared. carrying mails and stimulating the whole bank has received news from the held. About a dozen new highs Amsterdam Head Office that a were registered in the rails alone. dividend of 10 percent. for the year.

At, the close U.S. Strel stood at 1928 has been declared. 108 174, the cluse yesterday having been 1682 1/4. mong the ralis,, Canadian Pacific, closed at 6-1/2, up 5 1/4: Baltimore and Ohio rese 2 1/4 to close at 128 3/4: Chicago North western was up 1/2 to close at 3: Eric advanced 1/8 to 50 3/5: Lehigh moved up from 99 9/8 to 200 | 84"174, Missouri Pacific advanced from 25 3/4 to 96 7/8: New York Central was up 8 1/2 points to 219; Northern Pacific advanced 2 7/8:

1 The company denied that author rity was given. fer the payment of the extra" $300 a year, or that it was known that Mr. Newmark was drawing it.

Mr. Justice MacKinnon found Our New York correspondents sable that there is a steady demand that under resolutions passed hy for prompt delivery of spot gik, the board and the subsequent agre Futures are neglected. It is rent ported that finished goods moving slowly.

Mr. Newmark WAN

are entitled to the 2500 a year, and that it was paid without the knowledge of the hard until 1923.

Another cable to hand during the week-end says that the market a

awaiting definite crop reports. An easier tendency is likely in the

summer.

Close New York Saturday:-June 84.96, July 84.50. September $1.70, Catober $1.79.

OIL TANK VESSELS.

EXPANSION OF TONNAGE

In view of the marked improve ment which, has taken place in the oil freight market this year, there have been "indications recently of "new construction. It is reported that orders have been placed by Norwegian owners for three motor Lank vessels of 13,000 tons, and that charters have been secured for these vessels for a long a period as 10 years at a rate of ds. Bd. per ton per month, which, represents a dis- tinct improvement on the terms ruling at the beginning of this

year.

that

It is unlikely, however, owners will forget the occurrence of periods of severe depression in the oil tank freight market, and particularly that of last year.

Cause of Depression. The periods of depression have been clearly due to the supply of tonnage exceeding the demand, and an important factor in the

on the counter-claim Ronco, Ltd., "were entitled to £2,663 138. 2d. That meant that there would ir judgment for Mr. New. mark for £319 13.100.

•

+

CANADA'S EXPORTS OF "GRAINS.

י

TH

OVER $50,000,000 GAIN,

[D.P." Special Service.]

Ottawa, Ont. Data on Canada's exports of grain and four are now available for three-quarters of the

He said that Mr. Newmark on his claim was entitled to recover Hending and Rock Island each nd-current crop year in a summary £3,183, but

vanced a point, and Southern issued by the Dominion Bureau of Statistics covering the nine months Pacific went up 1 1/2 to 137.

Mercantile issues followed suit. Jended April 1928. The statement two shows that daring this period Montginery Ward went หม

Canada-exported 294,741,836 bushels points, to 114.

ini wheat compared with 203, 200,035

יי

There had been a payment into ceart of Lise. That was £66-100 little, but it ought not to affect the costs,

ول

*4,!

Automobiles.

I intend that all the costs in the

Automobiles, on a basis of excellent proceedings, except for a small results produced on reports, streng- amount, shall be paid hy Mr, thened. General Motors was off 1/4 Newmark, and not by Rozeo, Ltd.. added Mr. Justice Mackinnon. Heat the close but Chrysler was up awarded Mr. Newmark the costs up 12. Packard advanced from 136 to the entering of the defence. 3/4 to 137 3/8, and Willys Overland Roneo. Ltd., to have subsequent costs on the claim and counter. claim.

U.S. TARIFF AND EGG PRODUCTS.

ATTEMPT TO INCREASE

CUSTOMS TAX.

Washington-Alleging that they must meet intense competition from China, the National Food Produ-

closed at 28 3/8 up two points.

Copper...

bushels in the corresponding period of the previous crop year. The value of exports of wheat in the current nine months at 8310,349.861 compares with 8963.318,294 in the comparative period of the preceding

year.

to

A considerable gain is also shown in the exports of Canadian wheat Coppers, were weak for the most flour, from 7,451,068 barrels part, with the exception of Ameri-2,181,720 barrels while the value can Smelting which showed an ad increased

from $47,186,633 10 vance from 100 3/4 to 111 7/8. Ken- 860,160,466. necott moved up at the close to A big jump is shown in barley 90 3/4 from 88 1/2. Anaconds was exports from 19,626,712-bushels to off 1/2 to 117 1/2 at the close. 29,460,412 bushels. The value of Equipments were firmer on a basis (barley exported in the month of large orders from the railways. period of the current year is given

eers Council requested the House General Railway Signal closed at Finance Committee to-day to in110 1/2, up 3/4. crease the house tariff on eggs and CKE products.

Wright Aero showed strength as

38

$19,166,317 compared with 10,040,908 in the corresponding period of last crop year. Exporta 1,233, 129 bushels to 6,013,798 bushels of onts nearly doubled, from and 87,008,303 to 85,181,482 Rye ex- ports on the other hand show a decrease from 6.368.813 bushels to 4,521,511 bushels, while the value

The Council represented poultry-a result of an order for airplanes men of 30 states, and it was receive for the U.S. Navy, which desires

the value KAN up from surplus which has existed from time ing support from the Farm Bureau 182 new ships. The close showed

Federation.

to time is considered to have been the policy of a number of Scandi- nayian owners in building tonnage on the strength of Bank advances and often endeavouring to secure long-term charters.

Doubling or tripling of existing duties was asked for by the Council whose proposed new schedule would call for a duty of 12 cent per lb. on frozen eggs, 36 cents per lb. on. whole eggs, 30 cents per l. on dried yolks, 30 cents per lb. on powdered yolks and 60 cents a pound on dried albumen.

Wright quoted at 131, up 1/4" ·

Sales to-day were again large. Lotulling 4,593,700 shares which topped yesterday's large total of

4,087,120 shares.

rye exports decreased from $6,446,640 to $4,608,797.

|

Humphreys Estates.....$131 buy. EL.K. Benfie H.K. Tramways

$7.90 bay.

* བཅུ****་མ མཁན ནི $19 buy.

Peak Trams (nd)...... $11.50 not.

Eo.

(new)........$6.05 nom Star Ferries. 1+1 20m. China Light, (old).....$15 sel.

Do. (new) 19.30 nom. H.K. Electrics... .........$56) bay, 30 soli Macao Electrics. 20m. Sandakas Lights......... Jal. Telephones...

37 game,

China Busca Singapore Tretion....11 se

Do

(Fri.)...... 201. buy. China Sugan

,10 cts. buy. Malabon Bugars .337 вод Canton Icss Cements (combined)... $8,65 noM,

$9.10 buy.

Do. (old) .... bay. Do. (Dew)......$1.40 rom.

E. Bops...

United Aaboriće ...... Dairy Farme Watanna

Bar & Wings

Lane Crawfordia... Mackintosha Bimosres

WIL Powell

So buy,

18.85 buy. .$is nom. 1.80 eta, buy,

sel

$18 buy.

19 bay.

$99 nom.

buy.

ELK. Amusements..... H.K. Constractions

'que. Inda, G.Bonds...67% nam. ELK. Gort Loans.....7% pram, buy. buy-buyers; sel-sellera; x-la

pom-nomina!

STONE LINKS WITH THE EMPIRE.

MINSTER BLOCKS SENT TO

NEW CHURCHES.

"A piece of masonry from York Minster has just been despatched to Australia in order that it may be incorporated in the fabric of the new Episcopal Church at Bunda- berg,

Pieces of stone from Westminster Alley and Canterbury Cathedral the walls of the church. are also being sent to be built in

Applications for stone from: warious parts of the Dominions sad also from the United States have charches were heing built, and the previously been received when new

Dean and Chapter of York have nearly always dcceded to them.

BALLANTINE'S

The Banks are understood to be now rather more reserved on this, matter than they were. In view of the necessity of maintaining, the interest payments rates were accept- rd last year which many owners contended, were quite unremunera. tive, and a large number of ex-members. Mr. Reed Smoot of Utah CANADIAN WHEAT POOLS. nine months ended with April

In the combined exports of wheat, The Dow Jones average for 30 wheat flour, barley, oats and rye, industrial issues was up 5.00. For the Bureau's statement shows an rails it was up 3.11.-United increase for 9 months of the current year of, 984,375,247 uver the corresponding period of the pre-in use for almost 100 years. vious year. The value for the

pensive vessels were Inid, op idle. The output of oil tank tonnage in recent years has been very heavy, and this type of shipping now re- presents an important part of the aereantils marines of the world.

There were on June 30, 1914. afloat tank. vessels representing 1.479.000 tons, as compared with 6.544.000 tons on June 30 last, and while the new tonnage of last year was not equal to that of 1997-the

The request apparently seemed excessive, in the eyes of committee

pointed out that American exports of eggs in shell were now 50 times in excess of imports.

Witnesses declared, however, that egg production was a new industry in the United States. There are but 50.large plants and 300 small ones operating on lines satisfactory to fulfilment of bakery requirements.

output for 1028 was about 1,088,000 PROHIBITION AND COFFEE tona, as compared with 2,848,000

Long for the previous year-the

forthcoming returns for June 30 SUBSTITUTE FOR HCOTCH."

will show a further large expansion

in the supply of this type of ship- ping.

AMERICAN TELEPHONE"

COMPANY.

New York, July 1.-Announce nent was made here to-day that except for a neglible amount, "all the 4 per cent, debenture bonds of the American Telephone and Telegraph Company have been sul scribed for by stockholders of the company.-United Press

["D.P." Special Service.]

Preas.

"

· LARGE PROGRAMME OF

CONSTRUCTION.

["D.P." Special Service.]

Was 8389,576,827 compared with 8333,201,880 for the 9-month period ended with April 1928.

ESTABLISHED 1827.

By Appointment to

ONTARIO'S METALLIC

H.M. The Late. Queen Victoria

H.M. The Late King Edward VII.

OUTPUT.

and

Winnipeg. Man.-According to information here, when the three provincial wheat pools of Western INCREASE OF PER CENT. Canada bave completed their 1929 building programmes, they will be operating a combined total of 1,808 graia elevators at country points. Of this number, 1,055 will be in Saskatchewan, 300 in Alberta and 183 in Manitoba.

The immense storage capacity under control of the pools is seen San Francisco-American pro- when it is realized that these eleva hibition is making more coffee tors at shipping points have a drinkers. The authority for this capacity of from 30,000" to 48,000 statement "knows ber coffee, as bushels cach. she is one of the most wealthiest

plantation coffee Salvador and regarded as the most expert coffee bean taster in Central Ameria,

owners.

in

Miss Emma Barrios, 23, is the coffee expert who believes Ameri- cus' dry laws aid her business. She controls a plantation of 20,000 acres with more than a half million coffee trees in Salvados.

The programme of the Saskatche wan Wheat Pool has recently been announced. That organization in- tends to build 81 elevators this year

["D.P." Special Servica.]

Toronto, Ont-Metallic produc Lion from Ontario mines and smelter in the first quarter of 1999 shows the substantial increase of 83,037,000 or nearly 25 per cent. above the record for the correspond ing period of 1920. The figures for the quarter are:-1029, 818,780,760; 1028, 815,842,790.

His Majesty King George V.

"

PURE SCOTCH LIQUEUR WHISKY

10 years old.

GEORGE BALLANTINE & SON, LTD.

The frazure of the statement is the marked expansion in the out- put of the nickle-copper industry. GLASGOW AND LONDON. The value of copper, metallic and. made up of 27 at new points each in matte exported, increased from DISTILLED IN SCOTLAND of 35,000 bushels capacity, second 81,584.041 to 63,630,773. Nickel, elevators at 31 points each 45,000 metallic and in matte exported, alse bushels, and 23 ald houses to be in oxide and salts, showe gain

If you want a really first class torn down and rebuilt. This will from 84,032.044 in the first quarter Bootch Whisky at a reasonable price, bring the total for the Saskatche-of last year to 88,284,889 for

you can have no better than "Each year a greater amount of

wan pool to 1,055.

the first quarter of 1999. Gold our coffee it being sold to American. In Alberta and Manitoba, the production remained practically Ballantine's Liqueur Whisky. markets and prohibition is the construction will he mostly at new stationary, 88,000,192 for the first excellent. тепаол, The average price of palm-oil in ," Miss Barrios stated upon points with 72 elevators to be quarter of this year compared with 1928 was about £38 per ton and that her arrival bere recently for her erected in the former province and 88,122,012 in the corresponding of kernels about $20 per ton. The annual San Francisco shopping 20 in the latter. This makes a total Malayan oil has commanded a pre- tour, Indidentally, she said this of 173 elevators to be erected by the mium above the market prices and year's crop will be the largest in the co-operative grain organizations in

PALM OIL

period of last year. Bilver output ninourited. to 81,308,864 compared with 8895,408 in the first quarter

TO OPEN Remove capsule

raise lever and

push upwarda

Haig

TO CLOSE Replace exp and puk

Jever Jown s

NEW BOTTLE SEAL

-

(NO CORKSCREW)

-

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

Sole Agents :-

Doctors are using it

Judges are using 11

Sufferers from acidity

And I preferable to any other stimulant

GANDE, PRICE & CO., TEL 0, 135.

5771

LTD. Horn Kong.

Chinese and Water

Shortage.

An Important Public

Meeting; Remarkable Rice Dispute;

are

discussed in

topics

the

Current issue

the

#4

Weekly

of Press."

זי'

Sugar Shipment Tan- gles; Pigs And Colony's Population, are other Topical features.

POLITICS, COMMERCE, AND SPORT,

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OUND

ON SALE. VOLUMES

BHONG KONG

of WEEKLY RESS, July to December, 1928,

1i

Win Impex, PRICE-$7.50,

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