1929-08-09 — Page 9

MARTELL'S BRANDIES

V. S. O. P.

BOTTLED IN

'COGNAC AND

GUARANTEED

THREE STAR

PORE GRAPE

BRANDY

BT

THE HONG KONG DAILY PRESS, FRIDAY, AUGUST 9, 1929.

Money and Markets

HONG KONG MARKET

REPORTS.

Yesterday's quotations for rice and other food-stuffs were 45 follow-

Rice.

GRAINS.

THE DROUGHT IN AMERICA.

Messrs. Pentreath & Co. have jorwarded us the following latter. dated July, from Messrs. Horaby, Picul. Hemelryk & Co.

Fer

87.41 1

White, Sa Ah White, Hung AB'.......... White. Ching Cherk Luk Roundish rice. Green Seal

V. V. E. S. O. P.

White Bran, Tai Pao Long Unglutinous,

Seal

.00 3.98

Green

MARTELL & CO.

Granulated cargo rice

7.32 4.01

Miscellaneous.

No. 19 coarse granulated.

sugur

86.55

No. 2 coarse granulated

guyar

Brown sugar. Java

Shark's fir, Tai Woo

Nutmeg

Dried Prawn

123.30 .168.00 29.00

Dried Mushroom. Fa Koo ...220.00 Dried Flat Fish, Chung Pin 78.00 Green Flax

Howo Kore.

Cargo, Superior

26.00 9.20

Elack Bean

SOLE AGENTS:-

GANDE, PRICE & CO., LTD.

WINE & SPIRIT MERCHANTS,

ST. GEORGE'S BUILDING, ICE HOTSE STREET,

TEL C. 135.

DAILY SHARE QUOTATIONS.

HONG KONG STOCK

EXCHANGE.

Ballers Sales Nomina

Buyers

SHAREBROKERS' ASSOCIATION.

7.18 8.03

6.70

"During the week under review, the markets have again. becn strong, a further advance having The been registered on balance. principal factors have been the weather in the United States and Canada and heavy buying by United Kingdom and Continental millers

Although some showers have falles in Canada. the country in sill dry. Generat heavy rains are required, and the position is becom- ing serione, but not critical, as yet. Some experts estimate that the crop will be 100,000,000 to 15.000.000 than last year, and Lushels ess owing to continuation of the dry weather, deterioration is taking place daily. There is quite a good trade for old crop.

The United States Spring Wheat op is still in great need of rain. complaints are bring received of poor wields of Winter Wheat. The following estimates of the probable anal yield of Spring and Winter Wheat in the United Stater 73,715 bags of foreign sugar were provide interesting reading:- imported during July.

CANTON TRADE NOTES:

Large consignments of apples and Bellera Sales Naning pears have been arriving from Tier-

tsin.

£33

According to a telegraphic message from Tsingtao, is has been decided by the General Chamber of Com merce there that the tael aystem is no longer to be allowed in business transactions..

I

Snow estimates: Winter Wheat, 612,000,000 bushels Spring Wheat, 208,000,000 bushels,

The situation in Australia is generally satisfactory, but rains are required

more

The Argentine needs more rain, although showers have fallen in the north. A large businees has been done in old crop Wheat.

The visible supply in the United State of:--

READJUSTMENT OF CHINA'S DEBTS. COLLECTION OF DATA FIRST

DECIDED UPON.

Nanking, July 27-The Com- mittee for the Readjustment of Foreign and Domestic Loans held its first meeting under the chair- manship of Mr. T. V. Soong,alinis- | ter of Finance Among those pre- sent at the meeting, were Dr. C. T. Mr. Wang Peh Chun, linister of Wang, Minister of Foreign Affairs, Communications, Dr. H. H. Kung, Minister of Industry, Commerce, and Labour, and Mr, Yi Pei Chi, Minis ter of Interior. As a preliminary step to the formulation of mensgres for the readjustment of the loans, it was decided that authoritative and complete data be first gathered, which are to cover the following

points :-

4.

With regard to domestic loans: (1) the total amount, (2) the different classes of internal bonds" (3) date of issue. (4) rate of interest per annum, (3) the localities where the bonds are fa circulation.

were

B. With regard to foreign loans: (1) Purposes for which the loans contracted. (2) the total amount" (3) date of the loan agree- ments, (4) date of maturity, and (5) rate of interest.

Mr. Yeh Sha Heng, Director of the Public Loans Department of the Ministry of Finance, has been en- trusted by the Committee with the task of collecting the data.

In order to facilitate the work of the committee, Mr. T. V. Soong is considering the appointment of a number of financial experts to assist in devising a comprehensive scheme for the readjustment of ull Govern- munt loans.

EXCHANGE RATES.

[BRITISH WIRELESS SERVICE]

Rugby, August 7.«

Buenos Aires Hong Kong New York Amsterdam Stockholm

THURSDAY,

Виде

AUGUST 8.

Banks

Ca

$1,936

div.

HK..Banks

($1,235

The prices of both foreign and Chinese four have been high. market in however weak.

The

estimates: Winter Cromwell Wheat, 384,000,000 bushele; Spring Wheat, 211,000,000 bushels. Donovan estimates":

Winter Wheat, 200,000,000 bushels; Spring Wheat, 240,000,000 bushels,

Paris

Geneva

$

+

2195

Do. (London)

Chartered Banks...

£19

£191

Mercantile Bks. "A"

Do.

*C"

£16

P. & Q. Banks

These figures are considered bet- Preparations are being made byter than expected. the Kwangi authorities for the, establishment of a provincial indus- trial bank.

Berlin

Aslo

Helsingfors

Athena

890)

Hank of East Asia...

Insurances

#

$830

Canton Ins. *****

8630

$2

Underwriters ...

$1.90

T160 8326

North China weupe

T160

$326

Union Ias.............

8328

850

Yangtaze Ins......|

$60

China Fires

$300

$310

$770

H.. Fires.....

$770

Stipping

$57) Douglaxes

$27

6241

Steamboats

Indos (pret)

$73

Do. (def.)

026 Shell Transports

196/-

$22

Water-bosta azie

8211

Mining

Benquets...

63/0 Kailans

63/5

T.15

Langkate (com.) -]

Do. (single)

Explorations

$3.10

19}

Те

SH

21/-

T. Shanghal Losas

Raubs.....

Tronoh Mines

Docks, WharveS,

Godowns, etc.

**

18/

3128

81181

H.K. & K. Wharts...

$1274

Providents

184.20

84.20 84.30

HLK. Docks

18331

$32)

T.133

Shanghai Docks ...T134

T

T.18

T.87

T.49

!!!!

New Engineerings T7

Ti Hongkews

Cotton Mills"

EWOR

Orientals

T16,25 T16.35)

S'hai C'tons (old).....|Teo

Do (new)... T31

Lands, Hotels and

Buildings

H.K. & S. Hotels...38.35

$8.45

38.35

$59 *C.147

86

H.K. Lands

$50

Shanghai Lands ---

H.K. Ranltys

$9.10

88.15

Humphreys

813.05

$13

$99

Chinese Estates...

Public Utilities

Tramways..............

$80 Peak Trams (old)..

C. Lighte (old)...... 213.40

318)

818.60

26.00

Do.

(new)..

Star Ferries

$54

384

$13.25

8134

Do (new) 813.25

$13.90 856

H.K. Electrics................

828)

3facao do.

Sandakan Lights

89)

$7

Telephones...

Chins Buses................

T.14).

•20j-

11/

Do. (pref.)

$2

$9.20

$7.70

$1.40

$7

Н

319

20.30

J

$1.55

Tractions

Industrials

Canton Ices......... $2.25

***

Cements (comb.)... 26.80 $8.95 $8.90

•Do.

Do

Ropes

China Sugars

(old)... 87.80

(new)... $1

Malabon Sugars

United Asbestos.....

Miscellaneous

Dairy Farms ........ Der A Wings....

Amusements ......... Constructions ...... Lane Crawfords Mackintosha Nanyang Tobacco... Sinceres (old)......cene

Do. (new) ******

$11.90 Watsons

Wm, Powells.********

*9

$12

B. Ind. G. Bonds... H.K. Govt. Loon...$107

$18,80 $11.80

$6

37

1829

g1: ཿ

1819.90 1$0.00

Foreign barley is being imported into Kwangtung and Kwangsi in considerable quantities ria Hong Kong. Recently the arrivals have been short, and as a result, the prices have risen rapidly, the "cur- rent price being about 827.50 per picul.

The price of firewood has drop ped. The current price is from seventy to eighty catties to the dollar, as compared with about fifty catties during the inter-Kwang war, There is likelihood that further. drops will be seen in the rear

future.

The demand for Chinese raw silk abroad has been weak during recent weeks with the result that the prices are on the decline. Over a hundred bales of raw silk were sold on Wednesday the quotations being No. 14/16 at HK.8935 per "pica, No. 30/22 at H.K.8850 and No. 13/13 at HK $920,

*

*

There has been a healthy demand for cotton yarn from merchants of the country districts, and retail sales are large. Stocks..have come exceedingly short, and prices have gone up by four to five dollare per bale. According to telegraphic ad vices from Shanghai, the prices there have also advanced by half a tael per bale.

COPPER OUTLOOK.

WORLD OVER-SUPPLY NOW PREDICTED.

Within the next 10 years in spite of the present shortage, there is likely to be a world surplus of cop- per, agording to Dr. Marvin, Economist of the Royal Bank of Canada,.

Although Canadian production of 200 million pounds of copper in 1928 amounted to only 5 per cent. of the world production in that year," he states, "Authoritative articis on the copper situation. have mentioned the increase in Canadian output as the most im- portant proportionate development during that year. There are now five mines of major importance engaged in active production, and before the end of this year it is probable that several other mines will be turning out large quanti- ties.

"It is considered possible that the output of a single one of these mines will be in excess of 100 mil lion "pounds. Certainly it is safe

to predict that by 1931, or 1832, Canada will be producing a much larger proportion of the world's 1827} supply than at present. One factor which is tending to impede im- $1.06

mediate development of copper pro- perties is the fact that immense supplies will be available from Nor- thern Rhodesia by 1934 or 1935. In spite of the immediate shortage, there is every prospect that there is more likely to be over supply than shortage, in the course of the next ten years."

632

Wheat

Corn Oats

115,500,000 bushele

12,748,000

7,806,000

We have received the following cables from America.

Wheat: Reports indicate that no rains in the Spring Wheat Belt during the next few days would cause serious damage in many sec tions, which, combined with the present situation in Canada, re- duced yields of Winter Wheat and uncertainty in the Argentine, makes Wheat jook cheap at present levels.

123.075

25.72

20.30

18.20

193

872

1/11

4.83 3/321

가

A THRILLING AND FASCINATING ROMANCE OF JAVA !

ו'

John Colton,

author

of

"The Shanghai

Gesture," and

co-author of "Rain," has

diven Greta Garbo the most fascinating story in which she

has ever appeared !

Don't miss it!

GRETA GARRO Wild Orchids

AT THE

with

LEWIS STONE

NILS ASTHER

QUEEN'S

et

TO-DAY & TO-MORROW At 2.30, 5.10, 7.15 & 9.20,

ROMANCE AND REVELRY

A lively story of love and the prize ring told with startling flashes of humour against a colourful Continental backdround I THE

BOXER BRIDE

with

XENIA DESNI

The famous German screen star,

WORLD

12.11b

19.10

Vienna Madrid

34.425

33.71

AT THE

Bucharest

eis.

Bombay

1/5 28/39

Yokohama

1/11 7/32

Brussels Milan Copenhagen

34,883

89.805

18.21

Prague

Lisbon

164 105.20

53

2/42

241

24

Rio Shanghai

Silver (spot) Silver (forward)

BALLANTINE'S

Corn: The crop is still decidedly backward, but the prevailing wea- in use for almost 100 years. ther conditions are excellent,

Date: Reports are bullish. The December position appears cheap.

Rye is expected to follow Wheat prices and to show relative strength if export business develops.

A DANGEROUS GAME.

AMERICAN SHORTS IN

RUBBER MARKET.

Selling by American shorts in the rubber market has now reached very large proportions, and, in view of the relatively small stocks in the United Kingdom and the improving tendency in consump

ESTABLIJEZD 1827,

By Appointment to

H.M. The Late Queen Victoria 422

H.A. The Late King Edward VII.

and

His Majesty King George V.

PURE

SCOTCH LIQUEUR

WHISKY

10 years old.

tion, and falling off in shipments GEORGE BALLANTINE

from the East these operators, whoever they may be appear, ac7 cording to Meters. Sanderson and Co., to be playing a very danger- ous gaine.

There are three possible explana- tons for this persistent and in- are persuaded that there will be tensive campaign. First that they a very sharp falling off in consump

& SON," LTD.

GLASGOW AND LONDON

DISTILLED IN SCOTLAND

If you want a really first class

tion in the latter part of this year; Scotch Whisky at a reasonable price second, that production will in

have DO better

crease during the same period and you can surpass all estimates; third, that Ballantine's Liqueur Whisky. they are already so deeply com- excellent. mitted on the bear tack that the only chance they set of getting out of an apparently indefensible posi-

than

It is

tion is to constantly attack. These The French Store

sales have eventually to be covered in London, and either have to be bought in the open market or be "provided for by shipments of standard rubber from New York. New York still remains far below London parity, and we understand that small shipments are being made from New York to London, but it is doubtful if any large quantitics could be bought in New fork without putting up the price there appreciably, in view of the declining stock there and the high consumption.

Any diversion of stocks from America to London would tend to produce a better and more stable market, which has recently been suffering, not so much from too much rubber, but too much rubber in the wrong place. So long na the habit prevails of shipping un- Bold rubber to purely consuming markets, consumers will get a false impression of the weight of sup plies, and the price will be uana Lurally depreciated.

Beaconsfield Arcade.

Dont worry In heral

BERTIER

A Welcome Visitor

at any

· time in

every Every

household. Bug, Flee, Ecctle, Moth, Fly, etc., dies once it has come into proper contact with

KEATING'S

TO-DAY & TO-MORROW

At 515 & 9,20 Only.

2.30 & 7.15 - Chinese Picture, Remorse.”

A SPARKLING COLLEGE COMEDY

Two popular stars in a splendid action story of modern college life!

RED LIPS

·with "

MARIAN NIXON, CHARLES ROGERS

AT THE

STAR

TO-DAY at 5.30 & 8.20. TO-MORROW at 280, 5,30′′& 9.20.

A COMEDY OF FUN & FASHION!

High Jinks at Atlantie

City with famous part-

Ders at their best!-

GEORGE SYDNEY VERA GORDON in 20

COMENS

and KELLYS

AT THE

QUEEN'S

in

Atlantic City

SUNDAY AND MONDAY

THE HONG KONG & KOWLOON WHARF

& GODOWN CO., LTD.

NOTICE IS HEREBY GLEN that the Undermentioned CARGO at present stored in this Company's Godowns at Kowloon will be SOLD by PUBLIC AUCTION unless CLEARED on or before the 24TH AUGUST, 1929, and/or the CHARGES in respect thereof PAID:-

Lot No.

Name of Stører.

Cargo

Date Stored

D34878

Kitting & Co.

4 Cases Machinery

26/10/18

D84959

Do.

4

do.

Machine, dc.

8/12/18

D85611

Do.i

+

do.

Coffee Mills, &c.

17/8/19

142573

J.T. Lloyd & Co.

Hong Kong, 30th July, 1929.

1 Case India Rubber Goods 11/10/24

C. M. MANNERS,

Acting Secretar

$12

"