1929-10-15 — Page 10

10

JAVA-CHINA-JAPAN-

J.CIL

- Vork Building

Hongkong.

LIJN.

Tel

Tel.

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

STEAMERS

SOUTH BOUND."

FROM

EXFECTED ON DA

ABOUT

WILL LEATE ON

19th Oct.. Noon

For

BATATIA

TJIKARANG KASTAL & Axor 17th Úct. TJISALAK

Amor

A HOT

22nd Oct] MANILA, M'KSAR."

Νουπ & SozRABAIA

& SORRANAIA BATAVIA

20th Oct.

4th Nov., Manila, M'HAR,

4th Nov.)

Nood

Noon

5th Nov.

7th Nov.

17th Nov.

TJIBADAK SHAI, & AMOT 3rd Nov. TJISAROEA TJISONDARI SAL & AMD

TJILEBOET \. AMO? TJIKEMBANG 'BAI, & Amor 18th Nov. 20th Nov.

9th Nov.. BATAYLA

Noon

19th Nov, MANILA, M'xsan. Ncon * BOERAJATA

BATAVIA

Neon

NORTH BOUND.

STEAMERS

FROK

TJISALAK TJIBADAK

EXPECTED

сы од ABOUT

Java,Makassar In Fort

BATAVIA 16th Oct.

TUISAROEA Java,Makassar' 96th Clet. TJISONDARI BATAVIA 26th Oct. TJIKEMBANG ΒΑΤΑΤΙΑ

6th Naz. TJILEBOET JAYA, MAKASSAR 5th Nov.

WILL LEAVE ON OR ABOUT.

FOR

15th Oct. SWATOW & ÁMOT 18th Oct., [Amor d'S'hat,

Noon

27th Oct. SWATOW & AMOT 26th Oct."Amor & Sui 6th Nor: Axor & S'HAI. 11th Nor. SWATOW & ANOT

JAVA.

THE TROPICAL GARDEN OF EDEN.

Follow this tag on the comfortable steamers of. the JAVA-CHINA-JAPAN LIJN to JAVA. Gorgeous motoring along hundreds of miles of Asphalt roads,

Famous Botanical Gardens of BUITENZORG, Smouldering Volcanges,

Ancient Hindu Burubudur and Mondut Temples, ---Native Art and Art Craft.- Numerous cool Mountain resorts 3,000-6,300 feet altitude..

A round-trip that takes 3 to 4 weeks to be! remembered for a life-time.

For particulars apply to:-

JAVA-CHINA-JAPAN LIJN.

Agents :-

ROYAL NETHERLANDS INDIES AIRLINES, LTD. York Building.

Telephone C. 1574 1575. 1555.

EXPRESS

LAPZER

UNE

PASARA

SERVICE

"BARBER WILHELMSEN

LINE.

TRANS-PACIFIC AND ATLANTIC COAST. SERVICE

TİK PANAMA.

NEXT SAILING

M.V.

66

TAI PING” on OCTOBER 21st

for

SHANGHAI, KOBE, YOKOHAMA, SAN FRANCISCO, LOS ANGELES, NEW YORK & BOSTON

42 Days To New York'

For Passenger and Freight information please apply:-

DODWELL & CO., LTD.

Queen's Buildinga.

Agents.

Telephone C. 1080.

THE HONG KONG DAILY PRESS, TUESDAY, OCTOBER 15, 1929.

"

Money and Markets

GOSSIP FROM THE SHARE MARKET.

PRICES STILL SOARING: WHY RATES ARE

GOING UP.

FREE ADVICE FOR READERS,

[BY" KUFAN."]

were

WHARVES KOWLOON quiet during the early part of theį week, but improved to a buying rate of $146 at the lose.

Gossip often moves the market, but no investor should either bug ve sell on market gossip only!

Conditions in the share market are certainly showing a decided

PROFIDENTS: After shares had improvement, and the song wished changed hands at 84.75 the price for confidence is gradually return gradualy crept up to $5 and finish- ing among all sections of the ined with buyers at 33.30, Liter sales vesting community. This is horne cut by the large turnover of shares had taken place at 25.13 to 85.33. during the past week, and by the tipped this stock when it was gradus improvement in all stocks standing at $1. on the lees! share-list.

As was forecasted in this colon, this movement in the right direction was inevitable, and at the risk of being termed anduly optimistic I predict an even better state of things at the beginning of next year, when there will be enormous suras available fer re-investment, Millions of dollars are paid out yearly in dividends, and since the share-market is in such a healthy

tone,

a good proportion of this money will find its way back into the market, which naturally will mean still greater activity on the Rialto.

骨

RAW SILK.

A MUCH BETTER TONE.

Messrs. Pentreach & Co. have

forwarded us the following letter, dated September 9, "from Messrs. Hornby. Hemelry & Co., Liver.

pool:--

4.

1.

A much better tone has been in evidence during the past week, and the market has registered u stendy ánd substantial advance, values bes ing about 1c. to 18e, higher on hajanne

The rise is principally due to the publication of the American statis ties for August, which we give bes low with "comparisons:-

August July August

Importe Stocks

Distribution-

1920. 1929. 1928. Bales. Bales. Bales, 630516 47,570 €2,070 45,908 41,143 30,575 39,704 53,932 30,891 The distributler at 50,704 balry, a record, was much larger than, was expected, private estimates having waranged from 50,000 to 35,000 bales, and led to good buying on the part of prominent silk dealers and im parters.

HONG KONG HOTELS also showed a alight improvement, ris ing from 80.43 early in the week te 89.90 buyers on Saturday.

12

HONG KONG LANDS have ap preciated to 80" from 861 A small turnover was reported in this stock.

HUMPHREYS have improved slightly and sales were concluded at 814.70/75 during the week, and there are now buyers at 214.81. When this stock was at $13 recent- ly several my correspondents were advised to buy these shares as a sound investment stock capable of an early rise. 3.

i

were

+

at

There are two other reasons which lead me to think we may confident. ly look forward to better rates in HONG KONG TRAMS, another 1910. A large number of wealthy of my tips." showed a very de- merchants, mostly Chinese, who' cent improvement. At the opening have been sitting, the fence for of business last week they were four years, have recently renewed standing at 818.23. On Tuesday their connection with the share they

wanted

$18.35, market. Apparently the rising Wednesday $18.60, (Thursday holi figures are too attractive for them day), Friday $18.75, and at the to resist, and rather than have close on Saturday 10 with no their money safely tucked away in seilers. the vaults of a bank, where it earns enly small interest, they are now STAR FERRIES improved slight beginning to invest it again in somely and shares were sold at $70. solid stock, where, apart from capi- although the buying quotation only tal appreciation, a decent yearly showed $70. Bayers, I fear, will dividend is available. It is perhave to pay more than this figure haps due to this that a welcome to secure shares. rise was recorded in all stocks during the past week.

to a

#

**

►

CHINA LIGHTS moved up also. and business was recorded betwee. $13.50 and $14, and at the close there were buyers at the latter figure.

HONG KONG ELECTRICS show. ed a slight improvement, and a good business was done at $63. Os Saturday sales at $63.23 were re corded and buyers will have to offer slightly more for shares this week...

My third reason for saying that better times are ahead of us is that serip, after being regarded as practically worthless during the last four years, is beginning to acquire," a new value. Share prices are no longer ridiculously, low." Every stock has risea

greater or lesser extent, and it is interesting to see the ultimate value of this to the local market. Il a stock of 100.000 shares risce 25, the value of the shares of that company is raised by $500,000. A rise of $1 CEMENTS. yet another of in on shares of any company like the tips," remained at $9.90 for some Green Island Cement Company time, but last week touched $11.50, means an appreciation of half a rising slowly but steadily every day. million dollars on the market value They inished up on Saturday with of the Company's shares. A cou Luyers at 811.40 and business for servative estimate of the total ap the December Settlement was done preciation in share values during at $11.70. Higher rates will the last month, gives us a figure paid when the "profit-taking " between 20 to 30 million dollars and which is going on at present sub the community is richer by that sides. amount. Is it to he wondered at that further prosperity lies ahead for those interested in the local share market?

Brokers told me during the week that if they could only fall their buying orders, they could re-

+

HONG KONG ROPES improved lightly after shares had changed hands at $5.10 and 28.90, finishing up with buyers, at 88.60,

DAIRY FARMS also showed L

+

five

port record turnovers for the year.mprovement and fisisaed up with Fortunately the market is not buyers at 821.30. feverish, and sellers are not in- clined to part with their shares at AMUSEMENTS improved

where points during the week, and closed present zales, especially ecrip had been acquired before the with buyers offering 320 without

Strike. As rates ascend Ending, sellers, gradually. the volume of business

1023

•

"REPLIES TO READERS.

is bound to increase, and I am glad EWOS-After a good number of to say sharebrokere are looking shares had changed hands at rates forward to a prosperous time, and varying between Tls: 22 and Tis. Boca the chaos of 1025 will become 22.25, they weakened down to Tis. 20 on Saturday, and at the close only a memory.

The big drop in exchange has there were sellers at this rate for local delivery. The political, sitúa- brought and is still bringing a good tion in the North may have some. deal of money into the Colony from thing to do with the drop: the North, and I learn that a very large parcel of local shares, found its way into the hands of buyers in Shanghai. It seems that a good hit of money made recently out of Ewos in Shanghai and in Hong Kong is going into Banks and Unione, and this is perhaps in some way accountable for the very heavy rise in the value of these shares, "Kufan" replice to readers The rate of exchange, of course, every week on any question rela has also influenced the price, but tion to the Hong Kong, Shanghai the phenomenal rise is traceable to and Singapore share market." Cor more than one factor.

respondents desiring information are requested to address their com- munications to "Kufan," care of the Editor and every care will be taken to give as full a reply as possible. No responsibility, how. Aver, is admitted by the writer by so doing.

•

HONG KONG BANKS have had nrise of over $100 during the week and closed with buyers at $1,375.

CANTON INSURANCES improv. ed from a buying rate of 8070 to $700 without attracting sellers,

+

•

•

*

HONG KONG FIRES improved from $790 to a buying rate of 8820, after a few shares had changed

hands at $825,

*

•

CHINA FIRES are steady at #310 with buyers predominating.

OKINA UNDERWRITERS closed at $2.48. Bales took place first at 82.20, but the rate gradually im proved ne the week wore on,"

in during the past week for in- Correspondents who have written

formation or advice will find an- swers to their querries below.

Correspondents must eend their full names and addresses, and it is desirable that a nom de plume he included to enable readers to ideo- tily replies intended for them. OPPORTUNIST-Rates have gone up very rapidly since your letter reached me. If you are in na special hurry, don't part with your holdings, as the local mar. ket is very strong and an 'appre... ciable improvement by the end of November is quite likely

(Continued on next Voltima).

|

The New York certifiented stock on the August 29 totaled 3,250 bales (5-bale unit) and 470 bales (10-bale unit).

The futures market continues to

broaden, the turnover on several days recently exceeding former re cards. On the August 16 2.380 bales changed hands and on the 1 2014 bales

The previous record was made on the January 10 when. the turnover totaled 2,160 bales.

Our New York correspondents cable that the Spot" and Futures markets are strong... Business in thrown silk is quiet, but the piece goods market is fairly active fal lowing the usually quiet period in August. They believe that the high

ill deliveries during August partly unconsumed.

New York Close

Saturday October $5.00, December $5.05. January 85.01.

TIN DREDGING."

THE BATANG PADANG ANNUAL REPORT.

The directors of Batang Padang Dredging Co., Ltd, in their re- port for the financial year, ended June 30, 1929, state that the dredges minde 13,633 hours ünning time recovering 3,000 picula tin ore and 294 tnels gold dust 1.236.300 cubic yards were treated for a return of .315 entty tin ore per cubic yard. No. 1 dredge has called for some- what heavier repairs than usual, and at the end of the period under review wng working satisfactorily. No. 2 dredge, as is evidenced by the running time, gave good servied throughout.

The revenue from ti ore was

$201,885 and from gold dust $10,500, leas mine and head office expendi- ture $213,540, leaving a gross profit of 868,905, to which must be added. balance from last account less "ap propriations $20,790, transfer and registration fecs 8301, interest $635, sundry receipts 8504, leaving $100,197, from which the directori recommend the following sums be written off:--Dredge No. 1 620,000, dredge No. $10,000. buildings 81,469, house and office furniture. and fittings 852, electro magnetic separators $500, are dryers 899, oil engine and pump 8200, workshop plant and tools $200, motor er $500, tram line and siding 8015, sampans 8075, totalling 835.111.66 and leaving 801,785, from which a dividend of 5 per cent. has been paid. absorbing $37,300. It is re- coramended that the balance of 827.285.74 be carried forward to next account.

Bre

NUMERALS-Your friend is quite right when he says that brokers. not allowed to advertise." Those who do so are infringing a rule. Statistics and figures aro generally sent only to principals: and are not for the purpose of advertising. The rules of the London Stock Exchange are clear on this, but I can't say whether the local bodies have a similar rule.

Anyhow I know that the firm you mentioned is not guilty of advertising in the general | sense of the word.

YOUNG-As far as I can make out, your holdings will not appreciate very markedly during the next 'manth or 30. I think your plan to sell out and buy one of the two stocks you have in mind is quite sound. The market is ris ing, and I advise you to buy carly if you decide on this course.

ANXIOUS-No call this year. That

J.

is definite.

A.-Your letter arrived too late for this week. Please refer to this column next week. STANLEY-1. No. Such a small number is not always marketable, 2. I think e0. 3. Yes. 4. Since you have paid $2.50 per share your beat course is to wait. They should appreciate. Aby Chinese names, on the Sharebrokers' Asso sation's list will suit your pur pose. Go and see one of them.

SHANGHAI STOCK

EXCHANGE.

DEALING IN STOCKS. ADVANTAGES OF OUTRIGHT BUYING.

This authority finds an illustra

AMALGAMATION EFFECTED

If the long life of the hall market UNDER THE ABOVE NAME

proves anything says Mr. George T. Hughes in a financial article As the result of resolutions un- animously passed at an extraordin

for the Consolidated Prees, ie is that the large profits go to the man Ary meeting of both bodies last who bays his shares outright and week, the amalgamation of the stays with them: speculators make Shanghai Stock Exchange and the money by inund our trading, as Shanghai Sharebrokers' Associationsuming they are right on the aver became an accomplished fates and age. h the greatest reward goes the two will now operate as one to the investor, again always pro- under the title of the Shanghai viding that he has made a wise Stock Exchange. This fusion, is a choice. step on which both bodies have to be congratulated, na serving the tion of this declaration in recent obvious community of interests of prices for utility stocks. For in- amalgamation has been effected hasity stuck 07 per cent, owned by the two. The method by which the stance, Brooklyn Edison (a miner- in fact been by the absorption uf Consolidated. Gas) recently was the membership of the Shanghai quoted at 9250 bid and $500 asked." Sharebrokers' Association into that Back in 1922 it sold at 8100 n share, of the Stock Exchange by resolu Mr. Hughes makes the point: tions passed at extraordinary meet- Those who bought the stock on ings, while the Sharebrokers' Asso-margin" for a turn and then ciation will liquidate as such.. sold it doubtless made money, al- For the present the new body will though they also must have taken continue to do business in the ex- some losses when the market went change which was specially built against them temporarily. But the for the Shanghai Sharebrokers" Association at No. 18 Central Road, chaser who kept his stock ar who exchanged it for Consolidated though possibly more commodious Gas increased his capital encrimons quarters will be secured in the ly without the risk involved, in future. Indeed for the last two operating on borrowed funds. weeks or so, the combined brokers have been using this building.

This is something to be borne in mind by the man who buys stocks paying for them in full, and yet is disturbed by the day-to-day fuc tuations in the prices for his hold- ings A dozen things can happen to depress the market for an ne- five stock without in any way effect ing its investment merit.

TO-DAY'S WIRELESS

PROGRAMME.

BROADCAST BY Z.B.W, ON 350 METRES.

11.30

Representative Committee. The affairs of the new Stock Exchange will be administered by committee comprising the mem- bers of the committees of the two former boilies, an arrangement that provides for the fullest representa tion of all members who now occupy 100 seats in the new ex- change.

This number, we under- stand, is limited to the present how the value of seats in the figure, and it is interesting to see f Shanghai Sharebrokers' Association have increased rapidly in the past few years. "About two years ago the value of a seat in the Associa-News, Share Reports, etc., in Chi- a.m.-Commercial

and, in fact, the first sent to be sold tion was only a few hundred taris nese and English.

12.30 to 1.30 p.m.-Demonstration realized so small a price as Tls.programme (Chinese and European 700. Since that time prices have records). For use of the Radio. been steadily rising until about denters. three weeks ago the seat of a mem- 1.49 p.m.--Weather report. her who has been long absent chang- ed hands for so high a price ns Tls. 10,000 while, two week ago. Tis. 15,000 each were offered for two seats, but no one being willing to retire and sell, no deal was effected.-Y.-C. Daily News,

EXCHANGE RATES.

[RITISH WIRELESS HERVICE.]

Paris New York Brussels

il to

||

to 7 p.m.-English programme. (Victor. H.M.V, and Columbia recorda)..

7.43 p.r.-Evening, weather re- port.

Dp.m.-Evening general pro- gramme of Chinese music. (From Studio).

n.m. Approx.-Close down.

Vienna

34.511

Prague

16-13

Hexing for

1031

Rucny, October 13,"

Madrid

33.421

123.021

Lisbon

108)

4.88 11/16

375

34.87

817

Geneva Amsterdam

26.17

51

12.094

92.04.

1/5 27/32

20.30!

15.14

Hong Kong

1/01

18.21

Yokohama

19.201

1/11 19/32 23! ... 231

Milan Berlin Stockholm Copenhagen

(Continued on pert Golumn).

Athens Bucharest

Rio .....

Buenos Aires

Bombay "Shanghai

47 3/39

Silver (spot)

Silver (forward)

2/21

DODWELL & CO., LTD.

NEW YORK BERTH.

FOR NEW YORK & BOSTON via SUEZ,

LLOYD TRIESTINO.

REGULAR MONTHLY PASSENGER ÄND FREIGHT SERVICE for BRINDISI, VENICE AND TRIESTE (FIUME). TAKING CARGO ON THROUGH BILLS OF LADING TO GENOA, ALL ITALIAN, ADRIATIC, LEVANT, BLACK SEA AND DANUBE PORTS.

REDUCED PASSAGE RATES.

BRINDISI. VENICE & TRIESTE LONDON

£76.0.0. £83.0.0.

NEXT SAILINGS. OUTWARDS FOR SHANGHAI, TOKOHAMA. KOBE AND MOJI.

M.V." HOMOLO" 8.8. "VENEZIA”

***

#

1. CON

From Hong Kong. Baile on/or about 29th Oct. Bails on/or about 7th Nov.

HOMEWARDS FOR BRINDISI, VENICE AND TRIESTE,

M.V.ESQUILINO' HS." BOSANDHA "MY. "ROMOLO"...

From Hong Kong.. Sails onjor about 15th Oct. Sails onjor about 2nd Nov, Bails on or about 30th Nov,

NATAL LINE OF STEAMERS

FROM CALCUTTA & COLOMBO TO SOUTH AFRICAN PORTS

A.B. KUMZUMBI”

Bails from Calcutta 3rd Nov.

Regular Passenger and Cargo Service to South. African Ports. Through Bills of Lading issued from Hong Kong.

For Freight or Passage on any of the above Lines, apply to :---

DODWELL & CO. LIMITED,

Agente.

Telephone: Central 1030.

15