1929-11-02 — Page 10

10

KYOTO CONFERENCE 'MINERS' AND.

AND EXTRALITY.

OWNERS.

T

DISCUSSION BEGUN YESTERDAY.

GOVERNMENT'S PROPOSALS

RATIONAL SOLUTIONS

SOUGHT,

THROUGH REUTER'S'AGENCY.]

SHANGHAI, November 1. At the frat Kyoto Pacific Rela tions Conference, a discussion began to-day upon the question of ex trality. There wers four round. tables, comprising fifty delegates at cach, representatives of America, Canada, Britain, Australia, New Zenland, Japan, China and the Philippines, with observers repre- senting Russia, France, the Nether lands and the League of Nations.

One round table include "Lord Halishaw, presiding, David Yui (China's chief delegate) and Mr. Fessenden, of the American dele. gation.

Friendly Spirit.

The proceedings, as is usual, with round table discussions, were pri "vate. In a subsequent verbal report given to Pressmen, no names of speakers were mentioned.

The subject was discussed in a friendly spirit, there being a desire

UNPOPULAR.

NEGOTIATIONS STILL PROCEEDING.

(THROUGH REUTER'S AGENCY.]

LONDON, Oct. 31. The fear that the Government would encounter difficulties regard. ing their proposals for improving conditions in the mining industry is being realised Neither the miners nor the mineowners are disposed favourably towards the scheme.

The owners disapprove on the ground that the export trade The minera would be badly hit. are dissatisfied with the concessions granted, point out that there is no guarantee of a maintenance wages, and demand pension provisions

Leaders Meet Owners..

The

leaders of the Miners Federation and the principal mine- owner met in London to-day, se parately, to consider the Govera- ment's proposals regarding the min- ing

industry. As reported yesterday, the Gov- ernment propose to reduce the hours of labour by half an hour daily, to nationalise mining reyal- ties, granting compensation to the owners, and to impose a levy on output to assist the export trade.

An official statement was pro- mised in the House of Commons regarding the matter to-night, but when the question was put, Mr. Philip Snowden, the acting Leader

THE HONG KONG DAILY PRESS, SATURDAY, NOVEMBER 2, 1929.

Money and Markets

HONG KONG SHARES. U.S. BANK RATE

BENJAMIN & POTTS' WEEKLY REPORT.

Messrs. Benjamin & Potts, local share and general brokers, in their weekly sharo report dated yesterday state-

has been brisk and there has been Business during the past week.

an increased demand for the fav.

curite counters since the satisfac torily negotiation of the October settlement on Tuesday last, and rates in several cases have again shown an improving tendency.

Banks-Hong Kong and Shanghai Banks have receded to $1,350 at which figure sales have taken place Shares on the London register are wasted at £124 1/-,

Marine and Fire InsurancC8.——

יי.

DOWN.

TO-DAY'S WIRELESS

: PROGRAMME.

BROADCAST HY ZB.W, ON

330 METRES.

11 to 11.30 a.m.-Commercial News, Share Beports, etc., in Chi- nese and English.

19.30 to 1.30 p.m.-Demonstration

BULLISH ATMOSPHERE ON| programme. (Chinese and Euro-

'CHANGE.

INCREASE IN BROKERS' LOANS:

[REUTER'S AMERICAN SERVICE.]

NEW YORE, Oct. 31. The Federal Reserve Bank has announced a reduction in the re discount rate to Age, per cent. This was anticipated when it be came known that the Bank of Eng- land had announced a reduction of the bank rate.

There WEJ tremendous excite- Unions are again casier with sellers day, intensified rather by the de ment on the Stock Exchange to- At 8379). There are buyers of Can layed opening, which was ordered tons at 8695 and Hong Kong Fires to give bankers and dealers an op- at $8815," while Underwriters are oportunity of clearing up. The Ex- offer at 82

change is to be closed all day to- morrow and Saturday for the same purpose.

Shipping.-Hong Kong, Canton and Macao Steamboats were dealt in at the outset at 8261, but close weaker with no buyers over 828), Douglas Steamships were negotiat ed at 8253. Preferred Indo-Chinas ecatinue in demand at $43. Union Waterboats are unchanged.

Noon Opening.

The opening at noon to-day was one of the most spectacular over witnessed.

Scores of popular stocks opened from five to twenty points above

on all sides to wek, n rational of the House, declared that a state- Hong Kong and Kowloon Wharves f yesterday's closing prices, reveal-

methed of tackling the problem. It was generally agreed on all sides that Extrality per was wrong in principle.

The only doubtful question was in withdrawing it, this question in- cluding the conditions of with drawal, how and when the with drawal should take place..

mert could not be made at pres as the negotiations were not finish ed.

Adverse Criticisms.

When enquiries were made of the to-day, a statement was issued to the effect that the proposals were 80 grave that they were unable to comment upon them for the pre

Docks, Wharves and Godowns. have eased off slightly at 81474 buyers. & further improvement is to be noted in Whampoa Docks which after sales at 838) at the outset have since advanced to $41.

in the greater confidence. than 2,500,000 shares changed hands in the course of half an hour's trading!

More remarkable still, no fewer

The pace of course was too hot"

pean records). For use of the Radio Dealora.

1.48. Weather report..

9 to 10.30 p.m.-Programme of European records. (Victor and H.M.V. supplied by Messrs. E, Mostrio & Co., Ltd.). "Chocolate Soldier," Vocal Gems and "Like Domine," Vocal Gems, Light Opera Co. The Man Who Brings the Sun- shine," and "The Smugglers, Peter Dawson, Bas-Baritone. "Dreamin' Time," and "Some-

time,"

Amelita Gali-Curci,

.

Soprano. "The Storm," Organ Solo by

Arthur Meale. "A Previous Little Thing Called

Love" and "That Monte Carlo Song," Ann Penn, Comedienne. "From Midnight Till Dawn,"

Johnny Marvin. "Bungalow of Dreams," Crescat

Trio. "For My Baby," and "There's a Rickety Rackety Shack," Fack Smith Whispering Baritore, Dues with Piano. **Narcissus and. "Rustle of Spring," Piano Solos, Haas Barth...

"The Roast Beef of England ” and. "There's Nothing Over Six- peace in the Store" Ermest Hastings, Humorous,

Old Maid-Tango" and "Duck Tango," Argentime↑ Tipico Orchestra

Mountain Lovers"

and 'Nit vana," John Torner Tenor in English.

what procedure should be adopted coal-owners after their conference China Providenta weakened to $5.35 to last and, with the flood of sel- "Salut d'Amone" (Loves Greet-

but have since recovered to buying, the strong feeling could not ing quotation of 85.50. Hongkow compete, stocks losing half their Wharves at Tls, 190 and Shanghai gains by 12.30 p.m. Docks at Tls, 107 are nominal, while New Engineerings are the turn lower at Tls. Th.

sent.

,

LATER.

The coal-mining proposals have met with a cold reception from the owners, who criticise them for the effect they would have on the ex- apport trade.

Mr. Shotwell's scheme a 10. mary of which was published a day or two ago, was generally dealt with. Many delegates felt that, both to Chinese and other nation als, it offered at least a wise proach to the solution..

Foreign Judges,

Some of the Chinese delegater opined that the introduction of foreign judges would not be inco sistent with Chinese sovereignty for they would be officials under the control of the Chinese Govern ment.

moat

Such delegates who opposed the immediate abolition, which Chinese delegates, if not all, want ed, did so on the ground stated in the American and British recent replies to the Chinese Note aking for abolition, namely, what was considered to be an unsatisfactory state of affairs in Chinese courts. Also, some fears were expressed legislation penalising of unfair. foreiga interests with the object of securing quickly much needed funds for the Chinese Treasury.

STRIKE LEADER RELEASED.

SEQUEL TO GASTONIA MURDER.

(THROUGH LEUTER'S'AGENCY.]

GASTONIA, Oct. 31,"

K. Y. Kendricks, one of the seven textile strike leaders sentenc ed to imprisonment for the murder of the Chief of Police, has been released under a bond of $2,000 supplied by the American Civil Li- berties Union.

An appeal will be lodged regard ing his case. The other men con- victed are still in jail.

INDIAN AIR SERVICE.

KARACHI-DELHI PLANS.

(THROUGH KEVTER'S AGENOT.)

LONDON, Oct. 31.

In the House of Commons to-day, the Secretary for India said, in -reply to a question, that the Gov

ernment of India had found it more difficult than they anticipated La inaugurate air services from Karachi to Delhi and Calcitia, but they still hoped that the first fig from Karachi to Delhi would be made this year.

COMPULSORY MILITARY

TRAINING. SUSPENSION OF AUSTRALIAN

+ SYSTEM.

It is also understood that the Miners' Executive in the course of a three-hour conference with the cabinet Coal Committes yesterday, criticised the absence of a deficite assurance that the reduction, of hours would not be accompanied by a reduction in wages.

9.

The miners' officials also remark on the omission of any reference to persions for aged miners or of a new Minimum Wagea Act as an alternative to a National Agree

ment...

The Miners' Executive, do not view with favour the deferment of the first instalment of the hours reduction until April.·

HEALTH BULLETIN OF EASTERN PORTS.

FOR THE WEEK ENDING OCTOBER 25.

Plague, Tamatave: 1 cuse; 1 death. Alexandria: 4 cases, 3 deaths. Baghdad. I case, death. Pron Penh 1 case, I death.

Cholera.

Calcutta: 71 cases, 41 deaths. Madras: 1 death:

Tuticorin: 3 cases, I death. Prom Punh: 95 cases, 20 deaths. Swatow: 6 deaths.

Small-pox. Berbera 5 cases, i death. Aden: 1 case, Bombay 6 cases, 3 deaths: Calcatta: 1 case, 1 death. Cochin 18 cases, 3 deaths. 3ladras: 15 cases, death. Moulnoin: cases, 1 death, Pondicherry: 1 death Samarinda: 3 cases.

TWENTY YEARS AFTER.

BOYS WHO MADE GOOD MEET AGAIN.

Six successful business and pro- fessional men and a woman met in Liverpool recently in fullment of a pledge made when they were

Lands Hotels and Buildings. Hong Kong and Shanghai Hotels have been in good demand and were bid up to $11. Hong Kong Lands have fluctuated between $85 and $871. Humphreys Estates were realised at $15 to $151. Realtys at $9.30 have been neglected..

Public Utilities.-There bave beca a strong and sustained enquiry for China Lights throughout the week and they were booked up to 8151 for cash and corresponding rates forward. Hong Kong Electrics have remained steady with sales at 98. Hong Kong Trams have firmed up to $10.75. Star Ferries changed hands at the improved quotation of

$72.

Stocks Hold Well.

*

LATER. Despite the violence of the day's movements, stocks held fairly well all day long, although the great majority closed at prices below the highest levels for the day.

The selling, however, was well absorbed and the atmosphere at the close was distinctly bullish.

MI

LATER.

Beside the decrease in the bank rate another bullish factor on the

Stock Market was the weekly re-

port which showed a record de- crease of over £1,000,000,000 in brokers' loans.

4

ing) and The Magic Song," March Weber and his Orchestra, Star of the East" and, "The Görden of Allah," Peter Daw- Ban, Boss-Baritone. "Serenade" (Schubert) and ** Ser- enade" (Rimpianto), Victör Salon Orchestre. “Tannhauser Pilgrim's Chorns" and "Trovatore Anvil Chorus," Victor Mixed Chorus. 10.30 to 11.30 p.m.-Programme of Chinese records.

11.30 p.m.-Close down.

SUNDAY'S WIRELESS

PROGRAMME.

BROADCAST BY Z.B.W. ON 330 METRES.

$73, but are on offer at the close at CANTON MARKET REPORTS. Iyed from St. John's Cathedral,

Miscellaneous-Green Island Ce-

8.80 but ended a shade entier. No. 42 Yang Hok................

Flower and Buttery.. Watsons have appreciated to 8191.

Lane, Chawfords were again nego No. 32 Choy Kou tinted at 82. Dairy Farms at $29

Blue Phenix

... Blue Phenix

Hung Huy Globe

and Hong Kong Amusements at 829 No. 20 Golden City have Inpaed to nominal quotations. Benguets Consolidates have had a further rise to $4.65.

Cotton Mille-Eros have been No. 16 Blne Phenix fluctuating a good deal and deals were made at various rates up to No. Tls. 18.10. Latest "cabled advices from the North indicate an easier market with buyer sat Tis. 18) and sellers at Tle. 17. Shanghai Cottons No. market with buyers at Tls. 16j and the "New" at Tls. 60, without any business resulting The Company han just announced the calling up of the unpaid Capital on the New abarca, viz., Tls. 25 per share, on or before January 29, 1929. ..

Rubbers-The following are the Groundnut oil latest cabled quotations received Wood-tar oil From Shanghai:-

Camellia-nut oil

10.35 ..Morning Service re-

19 to 1 p.m (approx.)-Pro- gramme of Chinese records.

148 p.m.Weather report. 7.48 p.m.-Evening weather re- port. D

p.m.-Evening programme. (Columbia records supplied by The Anderson Music Company),, "Potito Suite" (Debussy), London

Symphony Orchestra.

"Souvenir" and "Serande.” May-

er Gordon, Violin Soloist.

"Semiramide (Rossini), Milan

Symphony Orchestra.

Two Pigeons," Band of Garde

Republicane of France.

**Madrigale" amd **Caridus,

Yvonne Curti, Violin Saleist,

*Orpheus in the Underworld," Lucerne Kursaal Orchestra.

H.M. Grenadier Guards.

Songs of the Hebrides," Kerisedy

Fraser.

Vienne Maidens" (Waltz),

New Concert Orchestra.

20.30 p.m.-Close down.

and

Raw Bik

ments

have steadily risen from $12.30 to 8131, with sales at inter No. 13/18 Best I........ mediate rates, and buyers at the latter figure as the close. Kong Ropes were put through at

Per Picul.

Hong

H.K.8970 Per

Cotton Yarn.

Bale.

2446 442

404

400

317

313

308

300

01

"Berceurso" and "Gypsy Song,"

Chouve Souris.

Sunlight

200

"Clarinet Concerto "*" and "The

12 Foo Kwai

980

Larp Mu

276

Golden City Peacock

10 Tai Po

967

Sailing Vesse!

288

Peacock

200

"Rigoleto," Selection, Band of

Golden City

266

No.

& Double Lions

994

But Hou

052

Per

**Nights of

Fragrance"

Diis.

Picul.

Tis. 21.30

28.00

31.10

Anglo-Javas

$7.50

Anglo-Dutch

4.50

0.75

Yngstables

·Chemors .......

1.40

Cabbage

Per Picul Na. 2.06

DANISH BANK FAILURE.

Consolidateds

3.50

Hairy Squash

4.02

EXPERT'S HOPEFUL VIEWS:

Kroewoeka...

9.50

Mustard Plant.

9.70

Repaba

1.45

Snake Gourd

4.40

Tanahs Merahs

1.15

Green Cucumber

3.80

Tebongs Ziangbes

9.95

White Cucumber

2.60

7.10

Ginger, Superior........

11.50

Baw rubber is quoted at old buy- White Long Bean

3.90

Green Long Bean

1.60

2.00

Exchange. The TT. rate on Lon.

Poultry.

4.

Forward Settlement Days.-Nov.

Pullet, Punti ..... Cocks Hens Ducks Geese

Per Picul. $78.00

70.50

153.80

€9.80 01.00

Batu Anams

at an elementary school together ers, 9id, zellers. twenty years ago.

Tls. 8.10 buyers Bean oil

They came from different parts don to-day is 1/9 and on Shang of the country, and included a pro-hai 73. minent banker, an author, and a lawyer. Their meeting was to pay

a tribute to Dr. McHugh, who was 20 and Dec. 23. "their headmaster at St. Michael's Council School, Liverpool.

They all gained valuable scholar ships through Dr. McHugh's en- couragement, and before leaving his charge they presented him with an appreciative address, and agre ed to hold a similar meeting in twenty years' time."

There were mine pupils at the original gathering, but the address presented at the reunion records

EUROPE'S BEET SUCAR CROP.

EXPECTATION SLIGHTLY

EXCEEDED.

Messrs, Pentreath & Company in that two were killed in the war. form as that yesterday they receiv The address says:

CANTON RAW SILK MARKET.

WEEK ENDİNG OCTOBER 29.

(THROUGH REUTER'S AGEŃOY.]

CANBERRA, Oct. 31 Mr. Scullin, Australia's new Prime Minister, has announced that

The past week has been quiet due pending consideration of defence

"We have not forgotten the olded the following telegram from to very small demand. Prices are questions, the compulsory military schooldays, and realise afresh leasrs, Hornby Hemelry & Cased off allightly. training system vill be suspended.

The system in vogue up to the now how much we owe to the educa Liverpool, dated October 21: present day has made military tion we enjoyed first of all in your training compulsory, but has been class. restricted to youths between the ages of 18 and 80,"

Another meeting has been arrang ed to take place in ten years' time,

Light's estimate of European Beet Sugar crop is 8,174,000 to as against a previous estimate of 5,154,000 tons.

Wo quote to-day:- 81,000 for 14/10 N.6. Crack Crope. $910. for 20/22 N.S. Ex. Ex. A 8995. for 13/15, 0.8. Best L

(THROUGH HEUTER'S AGENCY.]

COPENHAGEN, Oct. 31.

A financial expert who has been enquiring into the affairs of the Folkebank, which closed its doors and suspended payment a week ago, is of the opinion that reconstruc- tion is feasible.

Negotiations are now proceeding with the big banks.

LATEL

As a result of the negotiations with the banks, the Folkebank is re-opening to-morrow. The ebare capital will be reduced by forty per cent.

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