1929-08-06 — Page 9

34

Money and Markets

GOSSIP ON THE SHARE MARKET.

EWO'S STRONG POSITION: BRISK BUSINESS

LOCALLY.

FREE ADVICE FOR INVESTORS.

[By KUFAN,'"]

Gossip often moves the market, but in inventor should either buy or sell on market gotsky only.

The past week has been an exceedingly quiet one, and apart. from the sharp rise in Esos there has been very little change in rates. On the strength of the 40 candereens dividend Ewce im- proved to T. 13.30 for, cash on Saturday. This rate. I might add, was paid for Shanghai delivery.

I hear on reliable authority that j Answers to Correspondenta, the proft earned by the Ewo cotton-Correspondents who have written mills for the first half of the pre- to me during the week will and sent year is 1,450,000 theis, and answers to their queries below. considering the general business The livening-up of the Shanghai depression in China at the present market has led many to write and

time, I think the result is won. derful achievement, and shares are likely to soar.

-

THE HONG KONG

CANTON TRADE NOTES.

DAILY PRESS, "TUESDAY, AUGUST 6, 1929.

Over 1,120 bags of cement were imported by the st. Tung On two days ago.

•

Latest quotations for oils at chow are:-groundnut oil 926, Camellia-nut oil 90.45 and wood- tar oil 830 per picul.

#

*

Some 170 bales of raw silk were sold on Sunday the prices being No. 14/16 H.K.8035, No. 20/22 at $830 and No. 13/13 at 81,000.

*

Over a hundred junks loaded with fire-wood have arrived from the East. West and North Rivers and there has been a sbarp, drop in price.

יו

F.M.S. BENEFIT SOCIETY.

FINANCES ON A SOUND FOOTING.

The annual general meeting of the F.1.S. Benefit Society was held at the office of Messrs. Walter Grenier & Co.. Kwong Yik Bank Building, Kuala Lumpur," the pre- sident, Mr. F. Koch, taking the chair. There was a good attend- aace of members.

The minutes of the last annual general meeting yere confirmed.

In moving the adoption of the report and accounts for the past year, the chairman said that was the thirteenth year of the society, and he was happy to say that every- thing had since been found satis- factory. The tuembership was be- ing well maintained and the work of the managing committee was satisfactory. The Anancial position The price of Hong Kong mineral was or a sound footing and there waters is again normal.

On ac-

had been an appreciable excess of count of the water shortage, the raised the price

incomë over expenditure. The sum manufacturers during the last days of the water of 843,000 was on investment at the supply restrictions.

close of the year and the cash stood

During the last few weeks very little raw silk has been exported. Stocks in New York are excessive and there is no demand from Europe.

.

The dry bean market is steady and the latest prices are:-soy bean 89.33, white bean 810.50, black benn Scarlet bean $1070 and commen 88.55, small green bean $11.85,

green bean 88.85 per picul

#

ask about Ewes and to some of these. I have forwarded replies direct. I shall arrange to have an- To those interested in Ewos Iswers published twice a week. if would give one word of advice, and the market really becomes active that is, if the rates remain under enough to justify it. Meanwhile, I Tis. I do not touch them until shall give readers any information September/Octäder, as otherwise they might require either from the. it night mean the tying-up of funds; market or of the market.

Ques- without any purpose. On the other Lions relating to Shanghai and duck feathers is being done with hand Tis. 16 is a moderate figure, Singapore snares Cab alco be so investors will have to be in handled. The writer can abo give close touch with the market if they advice on any matter pertaining to are going to reap the full benefit in the question of practice in the the event of a boom in Ewoe, Iceal share-market, and all queries Questions addressed to me will re-will be treated confidentially. Those ceive prompt attection, and I am desiring information are requested hoping to answer my correspon- dents twice a week should the mar

SUFFERED WITH WATERY PIMPLES

Caused Face to Smart and Burn. Cuticura Heals.

"My trouble started with watery pimples on my chin. They broke and became tribly infarted and #pred my neck and baco. When the pimples broka they caused my -face on amars and biri. 1 antdared with them for about three months. "I went for free sample of Cuti- cura Soap and Ointment and applied it as directed. I parehased more and in two weeks there was x great ico- provement. I continued using them and in a month. I was completely bealed." (Signed) & H. Toogood, 13, Vincent Pi.. Youvil, Som, Eng.

For all purposes of the tollet and bath, Cosicuri Boap, Ciriment and Talcum are excellent.

请

Sample each Soap, Ointment and Telep free upon request, from. Deyton, Prics & Chessay. Lidą, P. O. Bex 130. Shanghai. * Bold Throughout the World.

IMPORTANT NEW USE FOR RUBBER.

at 814,000, while a sum of $4.000 F.M.S. FACTORY AND MINING was on fixed deposit at the Govern- ment Savings Bank.

The chairman, continuing, said that payments of beneâts ou a slid- ing scale was under suggestion and there was no doubt, he thought, that the adoption of such a scheme would strengthen the stability of the society. The members would be in farmed when a meeting to discuss the subject was to take place.

INDUSTRY."

Much has been written recently of efforts to increase the use of rubber and tremendous efforts, have been made, with the backing of the whole British rubber industry, to popularise, the use of rubber road- ways. Comparatively little success, as measured by the amount of rub- ber used, as rewarded this expen- Dealing with the question of diture of effort, money and prin- benefits, the chairman said thai,ter's ink. It is therefore interest- unlike other societies, their societying to consider other lines of pro- allowed a member to appoint any- one he wished to become his nominee. The Oficial Administra- tor had written and demanded the administration of the benefits of a deceased member on the, basi that it formed a part of his estate. They Yesterday'a quotations for rice bad resisted the proposal and and other food-stuffs were AS

would seek legal opinion on the

A huge volume of business in foreign merchants. Over 83,000,000 worth of duck's down is exported from Kwangtung every year, the material being extensively used for the weaving of velvet and blankets. The current price is about H.K.897 per picul but the usual price ex- to write to KEFAs, care of the ceeds H.K.8100. At one time, the Editor of this paper, and replies price was as high as HE.8160 per will appear on the following Tucepicul. The trade has gone ahead day. Name and address of the cor- steadily for the last 15 years. respondent must be enclosed, bus this information will not be pub lished and it is hoped that those writing in. will include a nomme- de-plume, so that they can readily

ket become more active.

This is the season when a certain amount of profit-taking is bound to take place, and the rise in Evos might be traceable to this. I have advised the buying of shares during September and October beeanne that is the time when the biggerjidentify their replies, epeculators and brokere in Shang

hai return from their summer "vac."

A very large number of Ewosure held in Hong Kong, and I gather that a few large parcels have found their way to Shanghai recently. Candidly, I think Shanghai specula- tors have more confidence in Evos than people in Hong Kong, and consequently the ruling price in the Northern port will be of far more importance than local quotations and will serve de a better indica- tion of the trend of the market than our own quotations.

NEWS FROM THE MARKET.

HONG KONG BANKS-A Jew

sharts changed hande at $1,263 early in the week. There are fur thor buyers at this rate which is eum Interim Dividend payable to- day.

UNIONS" arg strong at 8323, but this rate does not appear to at- tract sellers.

UNDERWRITERS are wanted at $1.80. Sellers are holding" oat for 22, but I have not heard that way Lusiness has been done at the lat ter figure.

A

HONG KONG MARKET REPORTS.

Rice.

White, Ching See White, Yuen Yuch White, Luk Sa Ah White, Hung Yuk Lan,

Long Unglutinous.

Lung Moon

SMALL INVESTOR-Last week a Correspondent asked a somewhat similar question to

that which you are now arking. I advised follow- him to sell because te bad bought forward shares for Sept- ember delivery. I do not advise you to follow the same course. You have held your #hares for a year or care, and I can see no harm in waiting a little longer. Prices might go up after Septem- ber, and in fact have good reason to believe that you will Long Unglutinous, actually make a little money ont of your deal, By all means keep "the thares up to the end of the current year unless the figure you mentioned is passed in the meartime

A.B.C-1 cannot tell from your letter how many shares you have bought for September/October, nor the price at which you aç

15

Per Picul.

$1.37

7,51

7.64 7.42

Hung

Hung

7.18

7:35 .6.11

Mui Fa Cargo Rice Granulated Cargo Rice 4.73 Roundish Rice, Blue Seal... 7.02 Miscelaneous. No. 18 coarse granulated

sugar

No. 18 coarse granulated

sugar

Groundnut oil, Fongtze Camellia-nut oil.

86.53

7.13 ....... 21,50 19.50 .170.00

71,00

quired the shares. However, you Camphor Powder seem to have bought a little pre-Dried Flat Fish, Chung Pin 76.00 maturely, as personally think Dried Oyster that you can get mere out of the Dried Mushroom, Tong Koo 195.00 stock you mention in December/

Dried Mushroom, Heung. January than in September/Octo-

Shun ber. If you can sell at a small profi, by all means do so, and if you care to write and tell me

...125.00

matter.

BRITISH FILMS.

SUCCESS OF INTERNATIONAL PICTURES, LTD.

In view of the recent reports of troubles in the film-producing in- dustry some encouragement as to its future will be derived from the report of British International Pictures, Limited, the large British film-producing company which owns studios at Elstree. The company was formed only in 1996, and its report for the year to March 31, 1928, showed no profits on the com- pany's productions, as their public exhibition in Britain did not begin until September, 1928.

how much you have for invest CANTON STOCK EXCHANGE for the past year, after deducting

ment, I can tell you what to bry.

HOTELS are steady with buyers DABBLER-Your rubber koldings at 18,83 and sellers at $9.45. jew small transactione Wert TC corded.

HUMPHREYS changed hands at 813.00 early in the week, and closed with further buyers at this rate.

#

4

HONG KONG TRAMS Share- holders are apparently fed up " with waiting for news of the In- terim Dividend, and I think this je the reason for the slight decline' in prices. Shares changed hands at 915.60, and I am in a position to my that quite number of share will be taken up as soon as the interim dividend is announced.

.*

STAR FERRIES were very much sought after at the current rate of $64, but sellers. seem to be scarce.

1

CHINA LIGHTS firmed up dur. ing the week to a cash buying-rate of $18.30. This stock attracted more attention than any other local investment; this was probably due to a certain rumour which per. sonaly 1 do not credit.

ELECTRICS were done at 855.76 to 855.85, and buyers are still offer- ing the latter, figure. Sellers art holding out for $56.

CEMENTS were done at. 20.10 at the beginning of the week, but the present rate is only 89.03.

WHARVES have buyers at $127 and sellers at $122.

#

DOCKS There are buyers in the

a few shares at $32.50. market for

COTTONS-This SHANGHAI stock improved to a buying rate of Tle, 80 in Shanghai, probably in sympathy with the rise in Evos. This applies to the old tharee. New shares are wanted at Ths. 40.

are al Shanghai shares, where the prices depends not only on the actual position of raw rub- ber, but also on the state of the Shanghai share market. I notice that you have got in at very low rates, and from the latest quota. tions 1. observed that Keebang and Bukits have doubled their value since. Do I

than mort

advise you to realise your profit? Certainly. There can be nothing gained by waiting. You can buy in again later.

Regarding your second question, my choice of the three you mention falls or Kelantans.

EWOFAN--You ask for certaid advice, but deliberately. decline to comply with the simple con- dition imposed.

You do not

see that any earnest of my bonn fides is called for," in which case I do not see that I am called upon to answer your inquiry, A. correspondent who does not give.

name and address-even though he offers apologies for the omission-clearly has so con- fidence in the good faith of the person to whom he writes.

his

If

you do not care to comply with the condition on which my ad- vice is available, there is nothing. more to be said. OPPORTUNIST-You

are

CLOSING QUOTATIONS.

CANTON, August 4.

83.60

48

Water Works Electric Light & Power Co. 3.80 Canton-Hankow Railways

Sincere Company The Sun Company 97.00 Nanyang Bros. Tob. Co....... Kwangtung Tramways Co.... 1.30 China Merchants S.N. Co. 35.00

.192.00

4.20

Central Bank of China ...... 41.00

HAWKINS There are certain brokers in Hong Kong who can handle London registered Banks.

Quotations generally are a little below Hong Kong registered shares. The price in sterling can be obtained by cable from Lon- don by any of the bigger broker. I am sure you will ing, firma. have no difficulty in disposing of your shares. You can draw your money within this week if you go to see a broker to-day. I do not wish to be inviduous, but if you wish for the name of a firm of brokers, write to me during the week,

go-announce

gress that offer a large outlet for rubber other than rubber roadways and, of course, tyres, which use most of the rubber produced.

There would appear to be no doubt that the manufacture of rub- ber liners to resist the abrasion caused by sand, stones and other cutting solids in mining and many

other world-wide industries, offers a field of much greater value to the industry and therefore to Ma- laya and other rubber producing, countries than is generally realized..

A firm in the F.M.S. manufactur ing such liners has recently sup- plied 3 one piece liners the aggre- gate weight of which are 4.45 tons. or an average of just under là tons each. The longest of these liners measured 125 ft 3 ins

"Perhaps we can get a better idea of what these large liners mean if we consider them in terms of other products. These three liners, which represent only a few days' work, are the equivalent of laying an 800- foot length of city roadway with rubber or the making of about 3,000 motor car tyres or about $300,000 rubber balls.

It is conservatively estimated that this new application of rubber. abould, when fully developed, con- sume upproximately 1,500 to 3,000, tons of rubber per Lanum, which ia more than rubber roadways are ever

likely to approach, as before the demand for rubber roadways can be developed it appears extremely pro- bable that all transport will be on rubber pneumatic tyres which is, in the opinion of transport engi ncers, the proper place for the rub- ber. When this occurs roads will

require to be hard and entirely free- from inequalities and not ́soft and resilient.

A

.

The directors cre now able to show net trading profits of £134,651 interest charges and income-tar, and a dividend of 1 per cent. on the Ordinary capital. Moreover, £40,000 is transferred to reserve from profit and loss, and with the addition of premiums from new share issues the reserve is rais ed to £335,512, from which share issue expenses amounting to £3,375 are to be written of. The com- pany's activities have widened con- siderably during the past year, and the balance-sheet reveals substanti- al expansion in the chief items.- The issued share capital now amounts to £1,000,000, of which £250,000 is in Eight per Cent. Cumulative Preference shares of £1. It is now proposed to create an additional £250,000 of Preference and £250,000 of Ordinary capital, although it is not the intention to issue the latter at present. The

The report of the Ocean Accident; company is favourably placed for making talking pictures, for last and Guarantee Corporation, Ltd., January the directors proceeded to for the year 1928 gives the follow- particulars respecting the. instal the necessary plant for such ing

working-Fire! films, with the result that the re- twelve months cording of full-length talking pie Department.-The net premiums for tures started in March. Artaage 1928 amounted to £347,978, the

and outstanding! ments have been made for a con- claims paid tinous output of such picture. amounted to £192,033, from the profits of this department the sum of £35,000 has been carried to pro-f fits and loas, leaving the Fire In

OCEAN ACCIDENT CORPN.

DIVIDEND AND BONUS FOR PAST YEAR.

$200,000 TỪNG OIL PLANT.surance Fund at £474034.

#

·

Accident Department-The net premiums for 1923, amounted to Organization is reported to be £5,899,866, the claime paid and out-!!

ELASTIC-Latest indications from Singapore and London lead me to vise you not to waste any more time hoping for a rise in price, Sell out, and with your under way for quite

money you can do quite well on

right. There has been a rumour for a long time of amalgamation of the two companies you men- tion, but I can say that at pre- sent the rumour is still only a rumour. Prices sometimes will go up on rumours, as in the pre- sent case, but if you are wanting a sound investment, keep off the stock. The banks, I understand, will not give more than a 60 per cent, advance on these shares. Does that convey anything to

you

(Continued on next Column.)

the local market

Dew $200,000

tung oil factory in Tungle, Che-standing amounted to £3,518,1-45, Kiang. A total of 2,000 shares will the sum of £75,000 has been carried from the profits of this department be issued at $100 each as the initial to profits and loss, leaving the STATESMAN-You are wrong in capital and another 2,000 may be Accident insurance Food

your bet. The banks did extend issued in case the business should

at their business hours during settle. prove to be prosperous.

£4,297,809.

Profit and Loss.-The sums car- ment days previous to 1925. On The name of the factory', has ried into this account from the Fire! one occasion they were taking is already been decided as Cheng Yih and Accident Departments amount- cheques up to 7 o'clock at night, and the articles of incorporation ed to £100,000. The directors re- Pay up the bet, and look pleasant are now being draughted. The commend the payment of a final about it..

promoters are Mesars. Yao Pah dividend of $150,000 making G.P.-Your letter was received at Tang, Chen Pact Yung, and Lu total dividend for the year 01 the Daily Pre office on Monday Sze, Cheng, and their temporary $300,000, together with a bonus of afternoon, and reached me too office is located in the Oil Mer- £100,000, leaving a balance of -Inte for attention. Bee this cbante Association building in £603,161 to be carried forward to

column next week.

Nantao.

next year.

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From

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COMBINED FREIGHT AND PASSENGER BERVICE. CABIN CLASS ACCOMMODATION FOR 50 PASSENGERS. FARE FROM HONG KONG TO GENOA—£73,0%, 04,

OUTWARD.

Sailings from Europe for S'hai, Japan & Northern Ports:-

M.Y." BURGENLAND" M.Y." FRIESLAND" 8.8. "PREUSSEN" M.Y, VOGTLAND” ̈ MY."DUISBURG"

HOMEWARD.

... us here on or about the 16th. Ang. dae hers on or about the 17th Aug. ...dus hers on or about the 4th Sept. #. dus here on or about the 18th Sept. ... dus bern'on or about the 27th Sept.

Sailings for Genoa, Rotterdam and Hamburg vis Manila, Singapore, Colombo & Port Said -

1* M.Y. “HAVELLAND”.. miling from here on or shout the 10th Aug. + MY. “ LEVERKUSEN" mailing from here on or about the 24th Aug, M.V. "EBMLAND" ...sailing from bere on or about the 7th Sept HY. "BURGENLAND" sailing from here on or about the 21st Sept. BA "PREUSSEN ? sailing from here on or about the 5th Oct. M.Y. VOGTLAND “ sailing from her on or about the 19th Oct. * Calling also at Marseilles.

+ Calling also at Ori

* Calling also at Amsterdam..

a Calling also at Bremen.

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Tel. U. 47541