1929-08-01 — Page 9

Money and Markets

HONG KONG SHARES.

MID-WEEK REPORT.

We have received the following report from Mr. Harry Odell, stock and share broker: —

For the period under review, busi ness has been on a restricted seale, but prices generally have remained steady, with very few changes.

to

Banks-After having come business at 81.263, are still in de- mond at this figure.

Bank of East Asia-A small quantity changed hands at 888.73.

Canton Insurance.-Can be placed at 8820, with sellers holding out for

$130.

H.K. Fires-Continue neglected, Unions-Sales effected from 8325

8326.

at

Underwriters.-Are wanted 81.50 without attracting sellers.

Steamboats-Are on offer at 824). Raubs. Continue in demand at 881, with a few small lots offering

at 89.

RAMIE

THE HONG KONG DAILY PRESS, THURSDAY, AUGUST 1, 1929.

THE TRIUMPH OF EMERALD RUBBER.

BIGGER PROFITS IN DIFFICULT YEAR.

ago. Further allocations to reserve account will be necessary in the next or two to provide for the development and upkeep of the. young areas.

The seventeenth annual general meeting of shareholders of the Emerald Rubber and Coconut Co., year GROWING

Ltd., was held on June 13, at the IN CHINA.

registered office, 124, St. Vincent Street, Glasgow, Sir Robert D. Moncrieffe, B., C.B., C.M.G., W.D., T.D. (chairman), presiding.

!

A FLOURISHING INDUSTRY.

Crop Estimate.

In arriving at the estimated crops In presenting the report of the of 1.395,000 lb. our managers have" directors for the year to January made allowance for resting during 31, 1929, the chairman said:the wintering period and also at Ramie, Boehmeria aiver, has been Gentlemen.-When I had the plea-other times throughout the year designated China grass by reason of sure of addressing you last year the when considered advisable for the its being grown in great abundance cutlook for the rubber-growing in- welfare of the estate. Bark renewal in China. Prior to the introduction dustry was anything but promising, is reported to be satisfactory, and of cotton, it was the indispersable and there were many dismal pro- is being improved by cultivation wearing material for Chinese people, phecies as to the likely trend of and drainage. The visiting agent Apart from its use for textile pur-affairs in the following year or two reports that the estates are in good poses, ramie is widely employed in with unrestricted production. How order generally. the making of mosquito and fishing ever much we way deplore the method adopted by the Government nets, corde, strings, etc.

It is being exported in growing for the removal of restriction in Japan. October last, the immediate task of quantities, especially, to During the five years from 1817-1821, the boards of rubber-growing com an annual export of 230,000 piku's panies was to find the best way of amounting to taels 3,100,000 a year was registered.

I

Much hard and efficient work has been done by our staff in the East, under the guidance of our agents and visiting agent, and I feel sure some shareholder will wish to ex

press our appreciation by moving a vote of thanks to them before we separate to-day.

Our share of the expenditure on Anak Kulim Estate for the year amounted to £4,478, and the loan account, which represents our in-

at £30,647 17. 4d.

CHINA'S COTTON

PROSPECTS.

JAPANESE BUYERS

INTERESTED.

EFFECT OF HOME DEPRESSION.

DAILY SHARE QUOTATIONS.

HONG KONG STOCK EXCHANGE.

SHAREBROKERS' ASSOCIATION.

Buyers Ballers Bale Nom WEDNESDAY, | 19m [Blur

JULY 31.

Japanese cotton mill operators are looking toward the ports of £19 China as the location for future extensions of their milla rather than the cities of their own coun try. The rapidly changing labour conditions and social views at home have turned the attention of the cotton industry's leaders to the pos- T180 sibilities of mille established in China.

This was the impression gained by Mr. C. C. Hedrick of the textile and knitting machinery department of Andersen, Meyer & Co., "during a recent visit to Japan. Mr. Hedrick has returned to Shanghai after a six, weeks business trip spent both in Japan and North China.

$310

Mercantile Bks. "A"

Bains

Nominal

Bank

81,265

H.K. Banks

$1,265

******* Chartered Banks

£15

Do

C"

ED

P. & O. Barles

$90%

Bank of East Asia...

Insurances

($630

8630

82

Canton Ins.

Underwriters

31.80

T160

North China

$326/

Union la...............

12398

$50

Yangtze Ins..

$300

China Firea

$770

($770

H.K. Pres.

Shipping

$7 Douglase.

1327

$947

Steamboats

Indos (pref.)

70

Da (def.)

02/8

Shell Trusports

8211

Water-bonta

Mining

83/8

Kailans

Tie

Langkas (com.)

63/6

's

Explorations.

Do. (single) 179

T17

T.41

Shanghai Loans

Raute

21/-

$47

The centres in which such exten- sions are most likely to be made, he said, are Shanghai, Hankow, Tientsin, and Tsingtao. There cities are desirable both because of their proximity to lines of, com- munication and the fact that they T.9 are not likely to be seriously affect

to 8129, and at the latter price more hemp and ramie is so slight that ion of road transport in aloost of 421 neres to be planted up with ed by any troubles in the interior.

shares can be obtained.

to

Providents.Have receded 81.30 at which rate shares were taken off the market.

Ewo Cottons.-Have been the medium of considerable business t from Tl. 14 to The 13.10, but at the close are available at Tis. 15 locally.

good half of the quantity of hemp reported as produced may be more accurately placed under the cate gory of ramie.

'Grows on Hillsides.

that the

Increase in Profts, Considering

period covered by the accounts was pro- bably one of the worst ever experi- enced by the rubber industry, I

ceting the unpleasant situation. Some companies, probably because A host of names may be given for of the absolute necessity to reduce this textile plant. Of this Ramie costs of production to a figure which to 83281, with further inquiries ator Chu-ma is particularly in great would show a small margin of profit demand for export. The Custome or at least minimise the loss sustain Returns classify ** ma under foured by selling, at panie prices,terest in the property, now stands headings, vizi chin-ma abutilon; decided to tap all out, but the "hun-ma" hemp: "lin-ma" jute;majority appear to have followed

Planting Programme, and "chu-ma ramie.

the wiser course of tapping on a

At December 31 last there were In many cases it betrays one's conservative basis, which provides ignorance to draw a hard and fast for a certain proportion of the 1214 acres planted with rubber and eight acres planted with coconuts. line between any of them. For in-estates being allowed to rest for a Progress is now being made with Wharves-Were dealt in at 8127arance, the distinction

between period.

the opening up of a further area Fortunately, owing to the exten every country, and the largely in-

rubber during the current year, and greased consumption in U.S.A., the intended to clear and plant an additional 400 acres during 1930, large accumulations have been and

when the planted area will be are being well absorbed. A con slightly over 2,000 acres. Develop tinuation of the present rate of

ment is proceeding on satisfactory As regards the cultivation of absorption should result in a lines, and the visiting agent's in ramie, it has been the practice to steadier market, and possibly an dications are that the estate will plant roots. Ramie flourishes gen-improving price for the commodity. give very satisfactory yields. This erally on the hill-sides where warm

should eventually prove a valuable and dry climate prevails.. Holes are

asset to our company, and provide dug on the ground previously" fer

an insurance against the possible tilized and thoroughly rzked up for burying the root, which is about

eontingency of decreasing yielda four or five inches long. The plant

from the older planted areas of our ing is preferably done either in spring or in autumn. As a rule, the life of ramie ranges from seven to For the first two years the stems are systematically trimmed in order that the stalk may multiply. There are three crops a year, and harvest June, July and August. The stems are crushed in the middle that the of 8 per cent, and £9,000 for depre- eintion of buildings, plant and from bark may be peeled off downward machinery we propose to transfer The cuticle is removed by socking £3,000 to the credit of reserve ac The Abre thus treated is known count thus bringing our capital as raw ramie. Under a slow char-receipts which include share capi-adopted; and a first and final tal, pretium, and reserve accounts con fire the raw ramie rapidly into closer relation with the cost Cements (Combined). Have re-dries. Sometimes it is dried in the of our own estates and our shaze covered from 88.85 to 39.10, with the sunshine. After this, the fibre of the cost of Anak Kulim Estate.

The amount carried forward to sales effected at the latter rate foris rolled up in bundles before it is

the current year-viz., £15,518 12s. Cash, and $9.35, for September.

Inasmuch as ramie is something, is fully £6.500 higher than the Dairy Farms.-The persistent in- quiries of a week ago have sincken-fational importance it is grown corresponding balance two years in practically every province of; ed, but shares can atill be sold at

China. $19.80.

Hotels. Have buyers at $8.33 and sellers at 88.45.

Lands-Were done at 8617. with buyers now offering only 1

Humphreys-Sales were reported atu #13, with further buyers.

Realtys. Continue it request at $91.

Trams. Have been sold down to 815.70 for ready delivery, 818.10 for September

810/10.30 for October.

and

twenty year.

think you will agree with me that the result is indeed very satisfac tory. The profit of £21,384 148. 3d. is a few hundred pounds better than that of the previous year.

By refraining from paying a final dividend inst year the sum which we carried forward was increased by about $10,000, and in addition to

own estates

A New Law.

On July 1 this year, Mr. Hedrick labour law covering the hours of pointed out, the new Japanese

employment of women in the cotton milla went into effect, marking ode $4.30 of the first steps in the changing 32

Tis 7.71

times.

زه

T14.80

T.2.30

Heretofore the Japanese cotton mills were run on a paternalistic qystem, the girls employed being control which extended over their off duty hours kept under strict as well as those spent in the mill. Now, however, in addition to legis lation affecting working conditions, the rapid westernization of Japan has brought with it other opportu nities for young woman euch

and clerks, sypista, salesgirls, waitresses, which positions with 5.5 the securing of mill workers steadily

ET

Ferries.-Were placed at 864, with ing takes place in the months of providing for the proposed dividend some forward sales in order to safe their increased liberty have made

further inquiries.

Electrics-Sales **effected

8353 to 856, and at the close there are buyers at 9353.

Lights-Are in demand at $13.03. with business resulting at $13.10 Cash and B13.50 for Oktober.

Amusements. Have buyers at 8201 and sellers at 926) ex the dividend of $2.50 per share, recently paid.

Dividends.-An' interim dividend of 30 cents per share, payable on August J, has been declared by the Hong Kong Realty and Trust Co., Ltd.

The Exchange rates for the day

are

T.T. on London

T.I. en Shanghai

1/11-1/8

יי

Next Settlement Day, Tuesday, August 27.

HONG KONG MARKET REPORTS.

as

Yesterday's quotations for rice and other food-stuffs were follow:-

2

Per Bice.

Picul. Common White, Hung Miu... $9.60 Common White, Ching Ao

Tou

7.49

Common White, Hung Wu

Dip

Long Uaglutinous, Ching Fa

Lim

8.03

7.30 Long Unglutinous, Hung Yat 7.27 White Bran, Black Seal 3.91

Miscellaneous. Coarse granulated sugar, No.

18.....

86.63

Coarse granulated sugar, 'No.

24

7.18

3.58

5.00

7.50

....135.00 105.00 8.40

6.90. 0.70

Green Sugar, Manila

Brown sugar, Java,

Bear's pa

Dried Mushroom, Heung

Shan

Aniseed g

Bearlet Bean

Soy Bean

Black Bean

in water.

delivered for sale.

Ramie is one of the strongest and finest fibres known. It lacks elas- ticity, but is durable. It has a brilliant silky lustre, and its bres are exceptionally long varying from 3 to 18 inches in length. "Ramie is classified according to the time of harvest, and farther graded in other ways.

When it became known that large stocks were accumulating on estates. and that these were likely to be released on the abolition of restric- tion, it was impossible to foresee to what extent the price of the com- Your modity would be affected. board, therefore, decided to make guard the position for the first six months of the year, which was then regarded as probably the most dif- feult period

The report and accounts were dividend of 8 per cent., subject to deduction of tax, was declared; £5,000 was transferred to reserve

account; 82,000 was allowed for depreciation of buildings, plant and. machinery, and the balance of £18,818 19. 2d. was carried forward to the current year'a account.

BIGGER PROFITS BY ROYAL DUTCH.

DEVELOPMENT OF GROUP ACTIVITIES.

The report of the Royal Dutch less cost by another company more Co. for the working of petroleum favourably situated geographically; The grades are distinguished on wells in the Netherlands Indies for consequently unnecessary expendi the basis of the length and quality 1928 became available in mail week ture is incurred and the cost raised of the bre: Ramie of different It is shown that the net profit too high. With a view to over. grades may be mixed in any propor-amounts to Fl. 103,307,780, against coming these objections the Export tion, and the price varies according- Fì. 101,078,035 for 1521. Adding Fl. Association has been established in 15.

423,438 brought in, there is an avail. America, which is trying by closer able balance of FI. 103,791,918, com-co-operation to arrive at a better pared with F. 103,157.957 last year. distribution of the markets, which As already known, a dividend of 24 is primarily in the intereets of the per cent. is maintained, a balance consumera. of F. 1,015,023 being carried for- ward."

CANTON TRADE NOTES.

Orly fifty bales of No. 14/16 raw silk were sold on Tuesday at H.K. 8923 per bale.

Canton Central Bank of China notes have been rising steadily and on Tuesday, the $1 note was quoted at ninety-seven cents silver.

The world's production of erude

Group's Output, According to the latest data the

oil is still maintaining its upward production of the company's group' tendency, states the report. When amounted to:-

the production of the past year is compared with that of 1927 it is

1927,

1929.

Metric tons.

seen that in 1928 more than 167 Dutch E. Indies 3,445,116 2,971,045 million metric tons were produced, Sarawak

us against a round 175 millions, in Egypt

Some 28,555 tons of coal were im-1027. ported in July consisting 16,954 tons Japanese," 8,220 tons Dutch, 6,651

and 3,200 tone Kailan.

Venezuela Second. Owing to the production of the tona Haiphong, 4,500 tons Indian United States having been practic- ally on the same level in 1928 as Sik merchants are very indignant in 1997, that country's percentage at the increased import duty im in the world's production of the Bosed by the Lado-China Govern- past year was less than in 1927, ment. They have asked the For. having dropped from 72 per cent. eign Office at Nanking to take trto 05 per cent. As was to be ex-1 the matter with- the French pected, authorities.

#

*

Venezuela LOW Tacks second on the list of petroleum- producing countries, Russia having The price of chamois horn, a been relegated to the third place. valuable Chinese medicine ingredi. In Mexico production continues to ent has risen sharply. Chamois decline, while, on the other hand, horn comes from the Tibet-Russia Colombia records. an appreciable border and very little has beer increase.

Market Fluctuations.

Roumania Mexico:

Corona Agulia Venezuela Trinidad United States

more difficult.

There are also indications that labour will demand higher wagee, Mr. Hedrick said, dificulties having already arisen in connection with

movement to cut down working hours in proportion to increated pay

EXCHANGE RATES.

(BRITISH WIRELESS SERVICE]

!!!

801

$69

88.13

$13

Tronoh Mines

Docks, Wharves,

Godowns, etc.

****T41

81974 H.K. & K. Wharfé... 81979

Providente

T.43

H.K. Docks

Shanghai Docka

New Engineering

Cotton Mills

Ewos

Orientals

832

T138

17

T15.15

T3.35

S'hai. Ctons (old)..-T77 Do. (new)... T42

Lands, Hotels and Buildinga

.:

H. & S. Hotels...$9.55 $8.45 H.K. Landa

H.K. Realtys

Humphreys

......... 881+

Public Utilities

$134

Tramways

811.80 Peak Trains (old)... $11.80 $6.05

Do (new).. Star Ferries

361

Da (new)....$12.85) Electrica...

Telephones..................

$ 28

$184

---

804

$13.10 $13.05

$56

11/-

***

C. Lighta (old)....... $13

819.30

8351

8504

$7

147

Tractions on

Industrials

REGRY, July 30.

32.10

Canton Ices ......... $2.35

$9.00

301

Paris Geneva Berlin Oslo:

· 123.825

$9.10

Cements (comb.)...] $9

189.10

$7.70

25.22

Do. (old)... 88

20.32

181.40

Do. (now)... 81

.18.20

Ropes ......

Helsingfors

193

827

Malabon Sugars ....

375

Shanghai

2143

Silver (spot).....

242

Silver (forward)

.24 (1)

4.85.13/32 826

12.101

16.10.

34.495

03.20

315

818

1/11 (1)

34.90

92,625

7%, priem.

18.21

184

108:20

1/5 23/32

1/10 15/10

Athens

New York Amsterdam Stockholm Vienna Mudrid Bucharest Hong Kong Brussels Mila..... Copenhagen

Prague Tishon Bombay

Yokohama

⠀⠀IMORE

30.80

811

સર.

828.80

$29

$19.00

Der A. Wing

80.50

81

Lane

$1.95

3

Sinceres dovezes 2101

$12

Miscellaneous

$194 Dairy Farms

Amusements

Constructions

Crawfords

Nanyang Tobacco... 84

811.90 Watsons

$100

Wm. Powells

B.. Ind. G.8 Bonds... 63%

H.K. Govt. Loan...3107 Chinese Estates....

713.750 751,092,

153,984 968.461

593,928

594,753

105.854

629,979 997,528 693,621

THE

GREATEST HUMAN DRAMA

EVER

SCREENED I

.... 4,407,713 7,125,339

65,841

705,187

TWO YEARS

IN THE

(Shell Petro- leum Corpora- tion, formerly, Roxana Petro- leum Corpora tion) United States

(Shell Oil Co., formerly Shell Co. of Cali- bia) Argentina

2,601,318 3,830,767

3,203,718 3,812,233 |

17,701 50,773 available since the Sino-Soviet The Dutch East Indies are show- crisis started. The current price is ing steady progress; Persin and

10,998,551 22,063,411 Roumain, too, have increased their over eighty dollars per tael.

productions. Likewise the figures The extensive development of Mineral water factories are doing of Trinidad and Egypt show a con many of the group's activities led well in Canton. Their number has aiderable advance upon last year. to shareholders being given the increased and they are doing. In Hesopotamia there is much ex- opportunity at the end of last year very good trade with the country ploration activity of a regular pro- to subscribe for shares "in the a nominal value of districts. Much less is being im duction there can be no question company to CANTON STOCK EXCHANGE ported from Hong-Kong-thaa for- until the pipeline to the seaboard 12,420,000 at par, which amount

was completely taken up-by-them. merly and quite a considerable is ready.

Oil is such a valuable product, amount is going to the British

continues the report, and the tech- Colony.

The market for the various petro-nical development of economic life The price of foreign four which leum products has been subject to has come to be so reliant upon the CANTON, July 30 rose sharply a few days ago has great fluctuations, with a falling use of oil products that ezpecta-

· 83,40- become steady as demand has tendency. Moreover, as already tione in respect to the oil industry Electrie-Light & Tower 3.60 fallen off. It is however unlikely that pointed out in the last report, there in general cannot but be optimistic. Canton-Hankow Railways... .40 the price will drop in view of their lack of system in the manner. As to the company, the directors The Sun Company

comparative failure of the wheat in which the various producers are are convinced that, independent of STOP in Canada and the United supplying the non-producing coun: the result of the negotiations for Nanyang Bros. Tab. Co.

States from which places the bulkier with erkend its pundnctionations of Seductions Kwangtung Tramways Co.....

Too often it is seen that one both in respect to production and of four is imported. The price of 2.40 China Merchants' B.N.. Co... 35.00 Chinese flour.bas advanced propor company is shipping to a certain as to distribution, it has a bright Central Bank of China 41.00 tionally,

country which could be supplied at future, before it.

CLOSING QUOTATIONS.

Water Works

07.00

17.00 4.40

*

"MAKING!

PRODUCED

AT A "COST

OF OVER

G $2,000,000

UNCIT TOMS CABIN

SHOWING AT THE

QUEEN'S SUNDAY TO WEDNESDAY

SPECIAL THERE.