1929-07-23 — Page 9

Money and

GOSSIP ON SHARES.

WHAT THEY" SAY.

Markets

CANTON TRADE

NOTES.

Some 3.0 bags of cement were

THE HONG KONG

SHANGHAI TRADE

NOTES.

TOBACCO MARKET DULL AND STOCKS HEAVY.

DAILY PRESS, TUESDAY, JULY 23, 1929.

LEATHER SALES IMPROVE.

Shanghai, July 20.-Trade condi-

CHINA COMMERCE NOTES.

EFFECTS OF SINO-RUSSIAN TROUBLE.

TARIFF AFFECTS IMPORTS.

Shanghai, July 19.-Already, the

NEW YORK STOCK EXCHANGE.

RAILS STRONG; MARKET REACTIONARY.

FREE ADVICE FOR INVESTORS. imported from Hong Kong between tions at Shanghai are far from Sino-Russian, controversy has had to-day, says the daily report of the

[BY KUFAN."]

Gosip often moves the market, but no investor should either buy er sell on market gossip only.

The share market during the past week has been fairly steady, with very little change in the rates, The following is a detailed sum mary of the transactions in various -storks during the period under

review:

BANKS were in fair demand dur- ing the early part of the week at 81,265, at which rate a few trussac- lons tock place, At the close there were sellers at this figure. with buyers offering only $1,200...

UNIONS have sediërs at 8325 without attracting buyers.

„CEMENTS and Dairy Farma are the only stocks showing a slight!

Os advance during the week. Monday 1st business was done in Cements at 89.75 and 88.50. Next day they jumped to 89,10 and 20.15, at which rates fairly large parcel of shares changed hands, Chinese hayers being particularly active Prices ensed of slightly before the end of the week, the closing quota. tion being $9.90 for cash,

DAIRIES were ohtainable on Monday inst-at $18.83 to $19, but the demand for this stock gradu nly increased and on Saturday hayers were offering $20 for shares. Quite a number. changed hands during the week.

the sth and 17th izët, inclusive.

favourable and interior business is affected adversely by the Sino-"

New York, July 15. Strength in rails featured an otherwise reactionary market On- the New York Stock Exchange a bad effets upon the markets and Dow Jones Financial News Agency, Some rich and enterprising mer

commerce generally of China, parti-

This situation among the rails chante in Tsekum distrit are hop. Russian unrest which threatens to cularly in the North. Tet, while served to steady prices in the face ing to start iron mining in that extend. No outstanding new deve-military activity again threatens

lopments or expansions in import North China, trade, to the uninitiat-vanced from the prevailing level of of higher call money, which ad- trade are reported, as slightly over- stocked markets and a weak and silver are declining tendency in handicapping the placement of new import business,

district. Ores are abundant.

"

Business transactions between ¡Canton and Wuchow Are Dow normal and large quantities of flour, cotton yarn and piece goods have been exported to Wuchow.

•

There has been a sharp rise in During the price of our lately. the past ten days very little of either Chinese or foreign flour has been imported and socks have, be- come short. Prices have also risen in Hong Kong,

*

•

There has been a big demand for Kwangtung raw silk from Germany recentis. The United States in the largest consumer of Kwangtung raw sik while France and Britain are regular buyers. Formerly very little Kwangtung silk was sent to Ger-

many.

*

No profits are being made by Chinese shipping areas with steam ers plying between Canton and Hong Kong. During the last few years, the pumber of the vessels has been increased and owing to competition, the firms have had to reduce the rates for both parser gers and cargo.

HONG KONG MARKET

REPORTS.

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

Per Picul.

Rics.

HOTELS were done at 89.35 and 85.50 during the week, and closed, Common White, Black Seal... $6.63 with ecliers at 88.50 Buyers of Common White, Blue Seal ... 8.44 smal lots are in evidence, but are Common White. Hung Muk only offering $8.40.

Keng

10.42 Common White, Ching Kuk 7.67 White Broken, Sheung Hung

Sin

6.53 Green

HONG KONG LANDS are in quired for at 861 eum the 8 in- terim dividend.

"HUMPHREYS were fetching 213.50 during the week. Shares are still wanted at dightly higher rater.

HONG KONG TRAMS were dealt in at 819 and closed with sellers at this rate, buyers offering ten cents lower.

CHINA LIGHTS have sellers at $13.10 for the old shares; they were fairly quiet during the week.

ELECTRICS came in for some attention, a few transactions taking pace at $5 and $35.25. There are buyers of small lots at the latter

rate.

**

CHINA PROVIDENTS were done at $4.30 and 84.35 but closed with sellers at $4.30, buyers only offering $4.30.

REALTIES improved slightly to $6 and at this rate" there are a few small buyers,

6.08 15 8.0%

White Granulated,

*Scal Long Unglutinous, Kong Pro White Glutinous. Greca Seal White Glutinous, Broken. 6.27 White Glutinous, Granulated 3.57

Miscellaneous. Coarse granulated sugar,

No. 16

8 0.70 Coarse granulated sugar,

No. 94

7:28 Honey

19.50 Wood-tar oil

33.00 Dried Cuttlefish, Sban-

tungs

Shun Fishmaw

Dried Mushroom, Heung

Dates preserved with honey White Bean Soy Bean Black Bean

48.00

135.00 280.00 .45.00 7.80 6.80 8.70

CANTON STOCK EXCHANGE CLOSING QUOTATIONS.

CANTON, July 21, Water Works

.8 3.40 Electric Light & Power Co.

3.90 Canton-Hankow Railways... .40

WHARVES are wanted at 8126, but sellers are not anxious to part with their shares at this rate. The Sun Company do not expect to see any busintes in this stock until the price offered

touches at least $130.

Sincere Company.

07.00

121.00

Nanyang Bros. Tob. Co.... 4.30 Kwangtung Tramways Co. 2.40 China Merchants' SN Co. 37.00 WATSONS are wanted at $11.90 Central Bank of China 43.00

in small lots.

THE SHANGHAI

MARKET,

which was very stendy during the early part of the week, finished up with a slight decline in all rates, and the market appears to be dull, with a downward tendency Thia is attributed to the Rumo-Chincee trouble. Ewos closed with sellers'

at T. 14.40, and Shanghai Cottons

for new. standing at T. 13 sellers.

REPLIES TO READERS,

were

JOBBER-Your case 28 very un-

ed, appears to show na extremely marked effects, principally because North China has experienced "no encouraging conditions for

Coastwice trade continues some what dull, with but small improve-time past. ment in navigating conditions on the Yangtze River, or on the Hai Ho at Tientsin.

some

9 per cent during last week to a high mark of 12 per cent. to-day.

med-

Heavy selling followed the open. ing this morning. U.S. Steel, General Motors, General Electric and other leaders receded, under pressure. Prices achieved a

ure of firmness toward noon bus broke again when calls went to" 12.

Selling was general under this condition of available cash with the general list concentrated upon the utilities, with Consolidat-

Military movements hamper rail transport and Tientsin port condi tions continue hampered by silting Motor Trucks Affected.

rontinus of the Hai Ho and importers still zales Passenger war steady. but the motor-truck busi complain of the tendency of some ncaa is unfavourably affected by the shipping companies to land goods new tarif classification" whereby | motor-track chassis pay the maxi-bound for Tientsin at Dairen, thus mam rate of 99 per cent. against incurring additional freight charges 12 per cent. for motor trucks with in an effort to avoid long delayed Gas and Standard Gas and completed bodies.

Shanghai automotive imports durat Taku Bar because of insufficient ing the second quarter of the year lighternge facilities. At the same" included 633 passenger cars, of which 350 were from the United time, official disagreement over the From question of bond floatation for the States, 143 from Japan, 21 Canada, 10 from France, and 51 Hai Ho amelioration project has from Great Britain: 178 motor delayed its commencement. tracks, of which, 33, were from the United States, 99 from Japan, 5 from Great Britain, and 19 from Canada; and 48 motor-cycles, of which 3 were from the United States, 3 from Great Britain, and 10 from Casada.

One of the largest American auto mobile manufacturing corporations is establishing & warehousing unit in Shanghai. Shanghai motor-car dealers and distributore have form- ed a dealers' association, Allied Automotives Association of China, a much-needed organisation for the trade.

Avrtinary and Iron and Steel. Normal demora for general machinery requirements are report ed in Shanghai and outport mare kets, with, however, по sales of major significance.

Inactivity parks the iron and steel market, with little business passing. Stocks are considered not excessive.

Cotton Market Stagiant.

Trouble in Tientsin

sales on

Electric freely offered.

The steels sold in large blocks and. underwent substantial recessions. Weakness of Atlantic Refining in duced nervousness in the gila.

Rail Market Improves, Among the rail issues, Baltimore As a result of high charges" for and Ohio closed up 24, at 133). Canadian Pacife was op 1, but local electric current in Peping, movement is reported among several Chicago Northwestern was down 3. Peping manufacturers and business | Erie soared and closed"four points houses for the establishment, under up, at 85. Lehigh Valley was “up a new Chinese company, of a power from yesterday's close of 941 to 90%. The Missouri Pacific rose from 96 to plant of 2,800 horsepower. company is reported to be formed with a proposed capital of 1,200,000 Mexican dollars, but their plans are still in formative state.

close of 1001. New York Central gained, five points to close at 237. Northern Pacific closed up Reading gained sensationally for a Further trouble is being experi- close of 12%, up six points. Rock enced by Tientsin industries, awing Island showed one of the few losses, to the activities of radical labour down to 130) Southern Pacific elements. One foreign-owned carpet gained a point and Union Pacific factory has closed again, and trouble gained four for a 269 close. is threatened at othe: plaats

Consolidated Gas, though freely The wheat crop situation in South-offered, closed at 1453, up from yes ern Shansi and Hunan Provinces interday's 1427, while Standard Gas reported discouraging, while Honan and Electric was down to 133, prospects are estimated at 70 per

U.S. Steel closed at 198), down cent. of normal. Crop conditiona

from are more favourable in Shantung Motors lost only during the course 203 yesterday. General and Chilli Provinces.

of the day, closing at 71, while General Electric dropped to 313, down 31. Chrysler retreated 11 to 70 as the close, while Willys Over- land moved down from yesterday's close of 261 to 257.

The combination of an unfavour The Shanghai cotton market re-able exchange, increased tariff, and mare stagnant, Ample stocks held zumerous handicaps to trade des- by consumers and large supplies cribed in recent cabled reports, are resulting in a weak condency in keeps the general import trade, in native staple. The price level of North China below its normal level Indian cotton is lavourable, with for dutiable items. Tientsin cus- replacements by mills possible at toms collections figured upon the parity or lower than native staple. basis of old rates, indicate a de Renewed complications in thecline of approximately 11 per cent. political situation restrict yam sales principally to undisturbed areas,

hough spinners are reluctant to make price concessions.

Piece-goods trade is dull and featureless, with a policy of im- mediate requirements ruling despite reasonable price levels.

Automotive Sales, ́

Sales for the day totalled 4,258,502 aharee, showing plenty of trading.

The Dow Jones average for 30 industriale. was off 4.01, but 20 rails showed an up trend to 3.99.

Automotive sales in North China continue slack for the better grades. Only a few scattered sales of low- MALAYAN RUBBER ISSUE, priced cars are reported, while the demand for trucks is somewhat better than for passenger cars."

wherever

THROUGH REUTER'S AGENCY.]

Bilk Market Steady.

Kerosene, distribution is reported fairly normal for North China, with Only moderate business is report- waterways being used

Losbox, July 9 ed in the Shanghai elke market, possible in preference to railwayed of the Rubber Estates of Malaye, The prospectus has been publish- with prices remaining steady,

The China goatskin season is end-seasonal movement is slightly with a capital of £400,000, ali

Inter than last year and famine offered for subscription. affected areas are taking less than uaual. The internal taxation situa tion as affecting kerosene is alightly. improved.

ed but some small parcels are still offered in Shanghai Moet selec- tions are of heavy weight and run about 50 per cent, in firsts, 30, per Gent. in, seconde, and the remainder in thirds.

DESS.

Tientsin kerosene imports during June, totalled 1,186,000 gallons, all American.

ابی

JAVA-CHINA-JAPAN-

JCJL

LIJN.

Vel, Addisonv JAVALYN

Tei Central 1574

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

STEAMERS

SOUTH BOUND.

FROM

EXPECTED EN OR

ABOUT

WTLE LEAVE ON

Fox

TJISAROEA S'AT, & Axor 25th July TJIMANOEK.. SDAL, K'LONG 29th July

& AXOY Sat. & Axor 5th Ang.

TJIBADAK TJITAROEM

S'HAI, KLENG 11th Aug.

&AMOT

27th Jul‹,

4TH

BATATLA

30th July, Manila, M'gsar.

4 pm. SoRRANALA

BATAYJA

7th Ang

4 p.m.

18th Ang., MANILA, MK8AX.

4 p.m. & SOTRABAJA

NORTH BOUND.

**

From

EXPECTED

ON ON ABOUT

WEL LATE ON ON ABOUT

FOR

TJITAROEM JAVA.MAXASSAD 24th July!

JIBADAR

HATAYIL

24th July TJISONDARI BATAVIA

3rd Aug TJILEBOET... JavaMaxabar 7th Ang. TJIKEMBANG BATAVIA 14th Aug.

P.

26th July Axor & S'HAI. 28th July Axor & S'HAI. 4th Ang Amor & S'mat. 9th Aug. Amar & S'iu. 15th Aug. Amor & SBA.

EXCURSIONS TO JAVA

KAMODIAN— BANDOENG — PAPANDAJAN- GAROET — SINDANGLAJA — · NGAMPLANG. TJISOERO E PAN — NONGKODJADJAR

WANASABI.

What do these Names mean?

A chain of good botels in cool, mountain-Resorts in a chain of scenic volcanic mountains in JAVA.

*All inclusive tours from 3 to 4 weeks, re-

membered for a life-time."

For particulars apply to :—

JAVA-CHINA-JAPAN LIJN:

Agents :-

ROYAL NETHERLANDS INDIES AIRLINES, LTD.

York Building.

HONG KONG STOCK EXCHANGE.

CLOSING QUOTATIONS.

Steambosts

160 buy.

325 K

M. $50 num. $2 sel.

305 bay.

Iron and Steel Goods. The iron and steel market is steady. Prices were firm, and, with Firmness marks the cowhide mar

the exception of heavy" supplies of ket. Some interest is shown by

The sale of a small American mild steel, stocks were normal. In- European buyers, and large ship-Bour mill for Shansi was closed re- creased sales of American wire nails ments are going to Italy Japan cently, but there have been no other continues to purchase most of the sales of importance in industrial are noted and growing competition cowhide cargo, while there is con- equipment. The sale of railway and gated sheets, owing to economies was reported from American corru-

JULY 22, 1929. siderable trading in buffalo hides industrial plant supplies continues,

HK. Bank.

$1.255 38 in packing.

Do but the aggregate is small and the

London...£129 nom. for Liverpool. usual, and I am afraid I can only

Paper trade is fairly active. machinery market generally slack. Stocks in some lines are light and Mercantile Banks, A. &B...23 Dom. Leather Market.

Chartered Banks ......$191 buy. advise you to accept what is

Leather sales at Shanghai evi A moderate demand is developing prices steady. offered. You seem to have been

Do

0...215) nem The leather market is quiet, but! served rather badly, but on the dance some improvement although for small kerosene or Diesel en-

.&O. Banks

£9) nom. interior prices are steady, with the exception East Asia Backs

1904 noc. other hand, there is your out considerable stocks remain unsold, gines for irrigation in Better come owing to hazards in taking ship- points.

of one line which met with increased Caston Insurances...

...$850 KOM. standing necount !

Demand for iron and steel pro local competition. to some working understanding ments to interior pointe. Continu

Union Insurances Inactivity in the previous month North China Ins. ous price fluctuation in American ducts has been fairly normal, with before another similar casë arises. at Tis. 78 for the old and "Ts. 44 DABBLER-If you cannot obtain leather tends to make leather deal movement inward through Tientsin resulted in heavy lumber stocks and Yangtze Innarances.

Shanghai Docks.

Underwriters China the dividend without transferring heritate to place orders for slightly above that of one year pre- the market is quiet. Prices of soft-

vious. Total Tientsin imports of woods are steady while hardwood China Fire Insurances .... the shares, there is no way out future delivery.

H.K. Fire Ins. The leather situation in South bars and galvanized sheets show a

...8770 but to transfer them. I am not

Douglasen *******

...$27+ nom. in sympathy with you. Sellers China markets was excellent dur- slight decrease compared with that shows a slight upward tendency.

Provision Trade Apprehensive.

$241 soi. have a right to demand that ing the first quarter of the year, period. last year.

The market for provisions became Indo-Chinas (Pref.).......847 buy. shares be transferred out of their but the disturbances in that area

Dye Business,

(Def.) .....70

HOID apprehensive as a result of the name before they part with the have reacted unfavourably on busi-

Bhall Transports

Snell dividend.

Tientsin four mills are operating failure of one large dealer and the K.T-Not safe for the deal you Flour Mills Operating at Fall at 25 per cent. of capacity, with report that two others were in ad- Union Waterboats...........

......$3.05 bay. mention, Better go to come hig-

Capacity.

low supply of wheat. Imports of verse financial condition. Provi- Bengueta ge firms. I am sending you the Shanghai four mills continue to four consist principally of Canadian sion stocks are fairly heavy and Kailan Mining Admin 68/3 nom.

future commitments are believed to Langhata (combined)......Tla, 15 buy, product.

The bay. name of one reliable concern, and operate at full capacity. Millera

Do. (single), North China dye business show in- be light. can mention others if you so are optimistic in view of a

Explorations reported desire.

ward movement from Tientsin Stocks are heavy, and the local

381 buy. wheat and an available large world choice and buy local stocks. stocks. An upward trend in the rice stocks.

sales prices were near replacement Trench Minas

21/-bay Cigarette imports at Tientsin costo.

R.K. & K. Wharfa ...8120 hay, 127 sa.. There might be money in the market has reacted favourably to

88,600,000 during Jane totailed

The market for canned sardines HK. & W. Dooks.........$32, es. stock you mention, but you can native flour, with present quota pieces, compared with 62,200,000 in has frmed. Although local stocks China Providents .....,3481. buy. get good returns without travel tions at 2.03 Shanghai taele per hat month last year. Imports and are large as the result of few trans-Hongkow

168 nom. ing outside Hong Kong. Here bag, compared with 2.30 Shanghai

....7 buy. are a few worth following at pre-tacis in the corresponding period local production and distributing shipments, light arrivals are expect New Engineerings

Shanghai Docks Tis. 128 buy. are showing increases despite bad ed.

Tis, 14.30 el. sent rates; Banks, Unions. Hum-hast year. (Shanghai tael approxi- transportation facilities and heavy The value of foreign trade is as Eno Cotton,... Ma, phreys, Wharves,

...Tle. 9.30 buy. mately $0.00.)

per cent. higher than that of the Oriental Cotions ONCE BITTEN-No hope of any

The textile market continues same period last year. Total trade 8'hai. Cottons (old). Tla, 77% Bom dividend within the term ___you}.

fnow)... The 13 som." Do, mention. The dull state of Hong The Shanghai leaf tobacco market quiet, with local prices firm and last month amounted to 157,377,000 H.K. & B. Hotels... 38.63 om Kong business has affected this dull Prospects for the roump-stocks light, except voile stocks, Straits dollars ($88,070,000), com-HK. Landy Company much more than other tion of normal business in the im- which were fairly heavy Chinese pared with 123,820,000 Straits dollars Shanghai Lands

mediate future are somewhat an dealers are reported to have large (60,650,000), in 1928. Exports in Humphreya Entatea... concerns. Price will not go un. LIPSTICK-I do not advise selling. favourable because of excessive indent orders placed in Europe and June of the current year were H.K. Ralde

Early re- to be holding off buying until these valued at 65,001,000 Straits dollars E.K. Tramway CANTON READER-Any memberston held by dealers,

(847,620,000) and imports, at Peak Trama (old). orders are liquidated. of the Stock Exchange or Share duction of leaf tobacco stocks

Bo, American 72,250,000 Straits dollars ($40,481,- From the deation and robu satara amenphable, sing to store facto intercat Ames-2235 rarage Mete

operatione daily quotations. I have given ment from the day the shares changed

Dative Finoleum you the name of one such arm, cigarette factories because "of the duck in steady and stocks are good. Straits dollars was 20.5596, in June, Chins Lights, (old),

Do. (new)... (Continued on nézt Volume). approaching rainy season.

1926, 80.5265. as requested,

Readers who have written for in.. formation during the past week will find answers below. These are given on the understanding that no responsibility is thereby incurred by the writer. All readers who desire information or advice on the share market should address theis

·

-41 sól

queried to "Kafan." care of the ALL LY-Stick to your former downward tendency, in foreign creased activity with a heavier out- The flour market is stagnant. “U, 44 buy.

Editor.

LOCALITE The delay of which you complain is not unreasonable. Better wait a little longer, as I know that Singapore secretaries are sometimes very slow, INDIGNANT-The particulars you supply are too 'scanty. The rule is that all shares sold carry with them all dividends and rights from date of save. Unless your sale note is marked "Ex Rights"

or "Ex Dividend" you will have

to part with such rights and

dividends. If you are still in

doubt, give me fuller details. Remember you lose the righta

*

hands.

(Continued on nézt Column.)

Leat Tobacco.

"of

taxes.

Telephone C. 1574.

-1575.

1555.

B.K. Electrica.......

j $551 buy, 851 Bol $5.35 0. Macao Electrics .........$267 nom. Sandaian Lights.......................$1į sal Talepkoore......................................$7 nom. Chics Bares.n-comme

Tis. 141 buy. Singapore Tractions......11 sel

Da (Pre).....20% buy. China

Sugars.95 cts. bay. Maison Bugar amus $27

Canton Icesi., 32 10 bay, Coments (combined)..............$6; buy,, 9 rel

Do

Do.

(old)...... $7.70 bay.

(now) ......$1.40 nom.

ELK, Bones ******

United Asbestos.... buy.

Dairy Farma......819.50 Bay, 20 . Watsons

$11.90 bay. 80 at bay. Dor A Wings...... Lane Crawferti.......... il nom. Mackintoshs ............318 buy. Sincere... is bay. Wm. Fowells.

35) vel

.k. Amusements.......328) nom. FL.K. Constractions .... $11 bay, B'que.Indus. G. $ Bonds...64)%, HK. Govt Loans.....7% prom..bay. buy.-bayer; sel-sellers ¡ ̈ ́za.—sules

nam.--nominal

THERE'S A LONG, LONG TRAIL

of

Bugs, Ficas, Flies, Beetles,

Mosquitoes, etc.,

all killed by.

8611 buy T147 bay. ....$18.29 buy,

boy.

DOM,

$11.80 nom,

(now). ...$6,05 som.

... $184 me)..

12.10 m.

KEATING'S

MADE