1929-10-08 — Page 10

and Markets

Money and

GOSSIP FROM THE SHARE MARKET.

"RIALTO "" MAINTAINS A STEADY TONE:

BUYING ORDERS PREDOMINATE.

FREE ADVICE FOR READERS.

[BY KUFAN."]

Gossip often moves the market, handa at $12.80. A couple of days but no investor should either buy later they had a spectacular jump or well on market gossip only. to $13.50, but this figure attracted The share market during the past quite a number of sellers and they eased off again to about $13.23. week has been fairly steady, and Later on the improved and after the business put through, on the further shares had changed hands whole, must be considered, satin-2 813.30, they closed on Saturday with buyers at 813:35. The "Bulls" factory.

and Bears" make this stock quite promigent, and changes take place so suddenly that, I understand, even the brokers themselves some times appear to be at sea as to the eerrest rate.

ติ

The rise in the majority of stocks is gradual, which is a healthy sign, Buying orders, I hear, far exceeded selling orders, otherwise we might even have earn a little "boom.

There has beau a good deal of speculation as to the future of electric shares, and although, it is generally realised that there are very bright spots on the horizon for Chinn Lights, there are quite a number of shareholders, who will jump into the market with loads of shares na roon, as the price show a slight adviner.

Meantine rumours of all kinds are floating round in regard to the Hong Kong Electric Company and the China Light Company. This talk of an amalgamation had been going on for some time, but I am afraid that for the present, at least, those who bank on this possibility will be diaspointed. As regards Kowloon and the Peninsula eing a field for competition, and the pessibility of a cable across the Harbour, time alone will show whether or not there is ang sub- stance in these rumours.

As I predicted last week, business during the week under review has improved almost daily, and there is certainly good ground for holding the view that better times are ahead for all interested in the share *market..

*

HONG KONG BANKS improved after sales had been negotiated at $1,260 to $1,970, and finished up with buyers at the latter figure.

CANTON AND "HONG KONG FIRE both showed a slight advance in rate, buyers offering $10 for forter and 8700 for the latter withot finding sellers.

**

HONG KONG ELECTRICS receded slightly during the work after shares had changed hands at rates varying between 883.00 and 962.75. At the close on Saturday I think there were buyers at 809.75 and sellers at 803.

TELEPHONES showed a slight improvement during the week and are wanted at 87.73.

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CEMENTS: A fairly large num- her of shares changed hands at slightly improved rates, and there were buyers at the close of business last week at $3.00.

*

ROPES also improved during the week, and after sales were conclud

at 88, buyers were found offering to take more shares at this rate. ..

**

.

•

little set-hack which this stock ex- EWOS a steadier after the pericaced after its rapid rise. There are buyers at Tis. 29, and I have an idea that the stock will

prove but I hope such improve banent will be gradual as rates would then be maintained and shares should stand at a fairly high level

the end of the year.

*

REPLIES TO READERS,

...

Readers who have written in for advice or information will find answers to their queries below.

Every "week in this column, "Kufan replies to readers who desire information on matters per- CHINA FIRES were also intaining to the Hong Kong. Shang- request at $310, but seem impossible hai or Singapore market. These 10 get at this rate.

desiring such information are re- quested to sead names and h dresses with their inquiries, and Po to include a comme de plume

+

*

UNDERWRITERS changed hunds at 82.10 and are still in request. fear buyers will have to offer more that this figure if they wantediately replies intended for them.

shares.

UNIONS also improved slightly sales being put through during the week at $306, and there are still buyers at this rate.

*

rnable them to pick out im-

Steps will be taken to give as full, and detailed an answer as possible, but no responsibility what- ever is thereby admitted.

Cominunications must be address- ed to "Kufan" care of the Editor ci this paper.

STEAMHOATS," after being. neglected for quite a little while, have come into the picture again. A small demand set in for these stares and business was done at $25.75, buyers offering the latter figure at the close of business on Saturday.

WHARVES ranged hands at rates varying between $143 to 8148. They were rather neglected "on Saturday, but nevertheless. are n sound investment stock, even at this

rate..

CHINA PROVIDENTS: A few small parcels were transacted at $4.75 to $1.80, and on Saturday there were shares offering at the latter figure, buyers offering 84.70.

·HONG KONG HOTELS changed. hands at $0.50/65. They finished up fairly weak on Saturday" with buyers offering only 89.50, and sellers holding out for a little

more.

4.

•

HONG KONG LANDS were done at 863 to 883.50 At the clase buy. era were only offering 603.

*

*

HONG KONG REALTIES are. in demand at 88.90.

#

HUMPHREYS changed hands at $14.30, and are stili much in de

mand, there being plenty of quiet confidence in this stock. Buycra, 1 think, will have to pay 814.30 for shares.-

*

HONG KONG TRAMS have been very steady round about 818.30, and I understand a fairly large parcel of shares changed hands at this rate. I consider them 1a very good "buy" at present prices.

#

STAR FERRIES showed a sight improvement during the past week. Bales were negotiated at 870" and 970.5, and I think there are buyETR at the latter rate.

CHINA LIGHTS were the prin cipal attraction in certain quarters. Early in the week they changed

A. (Macau):-The prospect of No. 1going up is distinctly good. I do, not feel there will be u sudden rush in prices, but the rise will be steady and I think these shares are a good investment. No is also good for investment, ns shares must go up in a few months time. No. 3, from what I can gather, is not very cheap at the figure you mention. What information do you require about this Company?

CRUISER-You are correctly in- formed. There has been a little movement in the direction you mention, but I do not agree that you should buy more shares to average your holdings. Try some- thing else.

CAUTIOUS-I think you are right in fearing a audden fall in price, but do not worry on this score at present, as rates will be main tained for a couple of months at least, and you can easily arrange to get out within that time. I do not advise you to wait any longer than that.

THE HONG KONG DAILY PRESS, TUESDAY, OCTOBER 8, 1929.

R. D. D.-No. 1 has risen quite ap- preciably within the last two inoaths, and will still go. further!

am quite definite about

up.

I

this. No. 2 ia rising slowly, but is the sounder of the two stocks. $90, might confidently be looked forward to within the next twelve months.

D. W.-I am glad you are able to show a prout by following my advice. Bell the stock you name and keep your money in readiness for something else." Write and tell me how much you have avail- able and wait for next Tuesday's isuc.

SEEKER (Manila)-1.. Wait a little more; price should be high- est just before the dividend "is paid. 2 and 3. These shares are held in good hands, are consider- ed first-class security in Hong Kong, and the Companies are very sound. Buyers find it dif.. cult to obtain shares, and there is never any trouble in selling. Very good holdings, with further pro- pects of capital appreciation.. 4.

(Continued on nézt Column),

HONG KONG TRADE. CANTON TRADE NOTES.

POLITICAL REACTION IN PIECE-GOODS BUSINESS.

The fortnightly bulletin of the Hong Kong General Chamber of Commerce contains the following references to piece-goods business:

The following reports have been received:

The market condition shews no improvement. Political upheavals, together with attendant internecino strife in adjoining Provinces, in- tensify an already doleful state of allairs.

Latest Cottan quotations to hand are those of Liverpool of the 3rd instant: Mid.

"Spot" Am. 10.32d. Eg. Sakel 18.334.

There is new business to re port. Clearances of White Shirt ings and other standard lines have been small. Market prices are very, low and there is much room ter im provement in demand. There is practically a complete absence of enquiries for Blacks, and although Man-juster prizes are inclined o be casice, the weakness of exchange leaves the situation here almost un- changed.

Woollens.

|

Clearances of new season's wool len goods continue to be fairly satisfactory and a small repeat der business has been done in cer- tain lines.

¦

Market prices in most cases, leave the dealers with little or no mar- kin nad the recent political dis turbances are causing a certain amount of uneasiness. Bradford prices are now on a very cheap basis, but there are no signs of any general buying movement in this

market.

Cotton Yarn,

During the interval, market bas ruled very quiet, and prices nie on the casy side.

An All-Chin' Match Manufac turers' Association is to be formed.

▸

The cotton yara market has re- vived lately. Stocks are short and prices have risen. According to a Shanghai telegram. the market there has been steady.

+

There has been a brisk demand for Hong Kong sugar from ports along the Yangtze. Over 270,000 balus have been exported from the Colony to the Yangtse districts.

RAW SILK

MARKETS QUIET.

Messrs. Pentreath & Co. have forwarded us the following letter, dated September 2, from Messrs. Horaby, Hemelryk & Co. of Liver- pool:--

The market has been quiet dur- ing the past week? and on balance, values are about Te. lower."

The New York certiavated stock on the 22nd ult totalled 3,150 bales (3-bale unit) and 480 bales (10-bale

The raw silk market remains very quiet and prices are low. On the 6th, some 160 bales were sold at H.K. 8065 per pleul for No. 14/16. unot)," and H.K. 90 for No. 13/15 Best

1,

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According to ሰነ telgram from Tsingtao, the merchants and the general public there have refused to accept the banknotes of the Yokohama Specie Bank. About $3,000,000 of these Notes are in cir culation at Tsingtao... ·

The value of the Central Bank of China notes has risen to 80 per cent. of their face value. It is un- derstood that they will be accepted at full face value before long as it is reported that the Government has decided to resume exchange of the notes for silver on the 15th inst.

Several steamers of the China Merchants". Steam Navigation Co. have been chartered by the military authorities and the Company main tains at. present only the services along the Yangtze and between Shanghai and Singpo and Wen chow. The service between Shang. hai and northern and southern porta has been suspended for the time being.

Trade in Wuchow is practically Nominal quotations are as fol dead owing to the military activi lows:-No. 10. $180-185; No. 128. ties. Commerce was already badly 20s. 8310-920, $170-198: No. 168. $200-205: No. but by the depreciation of the Kwangsi Provincial Banknotes and the inter-wang War a few months ngo and the present conflict is mak ing things worse. Transportation of goods along the West River is at a standstill and business in Canton and Hong Kong has been affected.

The rise gives you a tempting profit. I would advise you to ell, though I might add that I do not think prices are likely to slide down. 3. Sorry, this is putaide the scope of this column. I have passed your letter to the Editor, for him to der with, if he so desires/

CLIENTS (Canton). If the vari pus parties interested will write to me themselves, I shall be pleased to answer their questions to the beat of my ability, but I am not advising brokera on their business. They should know it.

J

The following price differences have been fixed for September ;- Grade A premium Doc.; B, pre- mium 23. C, premium 10c.; D. basis; E, discount 3e.; F, discount 10c.; W, discount 13e. A discount 20c. Y, discount 20e.; Z. discount

According to mail advices from New York, the Spring erop appears to be larger than that of last year, but it is thought that the increase will not exceed 3 per cent.

Sales of hosiery, and particular- fabrics, have been very large, but we understand that they have been made at the expense of pro fits, and one pour correspondents says that the willingness or ability of the part of manufacturers to continue on these lines will be an the course of prices." important factor in determindg

Our New York correspondents cabled on Friday night that the Raw and Thrown Silk markets are very quiet owing to the holiday period. The piece goods market is dull, and the futures marke it hesitating. The trade is anticipat ing a larger Japanese crop.

Close New York Friday (market

closed Saturday and to day): October 94.55e, November. 34.85, January 84.89€

PASSENGERS..

Arrivals

The following passengers arrived here yesterday from Europe by the.

Prices of firewood have risen by about forty per cent. during the present conflict between Kwang-

8:3. Mnin (N. D. L.): V. E., Lake, tung and Kwangsi. Supplies from F. Cake, Bernice Seybold (2), J. the West and North River districts

Seybold, and E. George,

have been held up by the movement of troops. Practically all available tow-boats and junks having been commandered by the military. The current price of firewood of medium grade is about fifty cat ties to the dollar.

The 6.3. Takada left Singapore on October 4 and is due here on October 10,

The first morning out of Seatfle brings this view of the)

Bitter Root Mountains to passengers on

NEW OLYMPIAN

The building of The Milwaukee Road thru this rugged mountain range was a notable engineering feat. From many points on the climb won- ' derful bird's eyes give vivid impressions of the difficulties which they overcame. "Going over the hill-in the days of steam was a task indeed.. but the electric locomotive makes easy work of it--and gives you who use the new Olympian a comfort and a pleasure in mountain scenery, hitherto unknown on railway journeys.

Roller bearings add to the riding ease of this train-all the way from Seattle to Chicago. No other transcontinental train is so equipped.

Rector's delightful dishes are-served in the dining car—another exclu- sively Milwaukee feature.

The observation car contains many conveniences that add to your en« · joyment-lounge rooms, library, buffet, radio, valet, maid.'

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