1930-01-18 — Page 11

Money and Markets

HONG KONG SHARES. CANTON TRADE

BENJAMIN & POTTS

•

WEEKLY REPORT.

NOTES.

The Canton Municipality is con- sidering the establishment of a gas works.

M

Timber is in great demand by merchants in Kongmoon, where sup plies are very short and prices have

Messrs. Benjamin & Putts, local

There was no activity in the share and general brokers, in their weekly"share" report dated yester-Cotton Yarn Market on Thursday,

The prices are unchanged. day state:- -Business during the period under

review has shown no noticeable Pansion, but the undertone of the market is firm. Interest has been 'chiefly centred in the favourite. which have been the counters, medium of a fair turnover, while Investment shares continue in good request and are readily saleable at quotations.

Banks-Hong Kong and Shanghai

to "advanced Banks have

£117

gone up.

•

Över thirty junks loaded with fire-wood are expected to arrive in the city from the West River dis tricts in a day or two.

*

+

The price of foreign sugar has Middle) in London, but were slightly, Chinese sugar has been imported in large quantities realised again locally nt $1,300 to $1,306. A Anal dividend of £3 and 1 lately, and prices have been low, bonus £1 (making £7 for the year) have been declared.

Marine and Fire Insurances Unions are slightly higher with transactions reported up to $350. China Fires have spurted to 8340. Cantons at $715 and Hong Kong Fires at 886 have likewise streng thened and can be placed a quota tions.

Shipping. Union Waterboats were dealt in at 8931. Hong Kong, Crinton

Steamboats and Macao fetched $71, Preferred Indo-Chinas at 13 continue neglected.

—

Docks, Wharves and Godowns.- Kowloon Wharves have remained steady with sales reported at $145 and further buyers. Whampoa Docks have been sold at 830 and are obtainable at 831. China Pro- vidents changed hands at the outset at $53, but are offering at the close nt 5.35. Shanghai Docks at Tis. 106 have not moved.

*

*

•

THE HONG KONG DAILY PRESS, SATURDAY, JANUARY 18, 1930.

|

AMERICAN FINANCE. DAILY SHARE QUOTATIONS.

BANKER'S REVIEW. A

BRIGHT PROSPECTS FOR 1930.

Following up the report of the results of The National City Bank of New York for the year ending December 31, 1929, comes the 'report of the speech by Mr. Charles E. Mitchell, Chairman of the Board

of Directors, at the annual meeting 806 of the Bank held in New York on January 14:

The National City Bank of New York showed net carvings last year after reserves for takes, pensions, death benefits and

management funds of U.S. #26,397,841, according. to Chairman Charles E. Mitchell, who addressed the shareholders of

the institution at the annual meet- ing held Tuesday noon at the Head Office. The meeting resulted in the re-election of Directors for the ez- suing year..

Do. (Londo

"

G

11

FOREIGN MAILS.

RADIO NOTICES,

The Railio Office, where fall information concerning all wirelsen services

may be obtained at all times, is situated on the ground floor of the P. & U. Building in Des Voeux Road, next to the General Post Offics.

ladividuals and Erms are recommended to register their telegraphic ad- dresses at the Radio Ofice. No charge is made for this,

NOTICE.

Bolders of Wireless Licences are advised that undor the Wireless Telo.

graphy Regulations all such licences expira os Doombor 31st, and that fooños for the coming pear must be renewed as early as possibls during the month of Jantarfi

INWARD MALLS,

HONG KONG STOCK EXCHANGE.

SHAREBROKERS' ASSOCIATION.

FRIDAY.

Buyers

Bater

Balas Nominal;

Buyers Ballere Bales Nominal

| JANUARY 17.

Banks

31,300

$1.303

H.K. Banks

$1,990

£118 £19

Chartered Ban

Mercantile Bks. “A”

L£10

Do.

Bank of East Asia...

Insurances

710/18

Canton Ins.

$715

$1

Underwriters

$1,60

North Chins...

T180

$379

$360

Union Ins.......

$375

M.$50 Yangtze Ins.......

$00

$335 $820

China Fires.

1310

+19

B.K Fires..

$8.25

JAYA ..

Shipping

Shanghai & Swatow

$15

Douglases

$24

417

Steambonta

$27

$43

Indos (pref.)

$70

Do. (det.)

95/10 Shell Transporta

95/-

67/6

$23

Water-boats.........

$23

***

Mining

$715 T100

"Out of these profits was applied according to our Exed rule, Mr. Mitchell explained, a contingency reserve of US. 83,050,880, dividends of S. 813,510,000 were paid, and Central Bank of China 81 notes after year-end adjustment a balance

of U.S. 89,406,327 was carried to 84.70' are now accepted at face value. The exchange rate of $5 and 810 undivided profits as against U.S. notes has risen to ninety-four per83,817,859 similarly carried to un- divided profits it the previous cent. of their nominal value.

year-end.

►

Trade conditions in Shuntak are far from satisfactory. "The buying power of the people is werk as a result of the decline of the Silk market., Sales of foreign goods are especially bad

:.

Merchants dealing in furare doing unusually well on account of the cold spell. The price of fur has risen by about thirty per cent, and is likely to rise still more as stocks

short. are very

Very little business has been done in raw silk during the past few daya, as demand from abroad is disappointing Stocks being large, Lands, Hotels and Buildings, merchants have lowered the quota Hong Kong and Shanghai Hotels tions. Some fifty bales were sold were negotiated in fair quantities on Thursday. The price of No. up to $19. Humphreys Estates are 14/16 dropped by twenty dollars. enquired for at $14. Hong Kong The quotations were H.K.81,180 for Lands were sold at 65. Realtya Ng 13/13 and H.K.8910 for No. are on offer. at 88.50.

Shanghai 14/18. Lands have had a sharp move up! wards to Tis. 172.

Public Utilities-Hong

Kong

Electrica inder persistent demand

nat

rose during the week to

which figure deals were made. At

||

MALAYAN TRADE. INCREASE.

SHIPMENTS.

There was an all-round increase in Malayan trade last year, the valac being $100,008,000 more than the trade of 1929.

The increase was mainly due to the very large rubber shipments, which exceeded all expectations.

the close the market is slightly DUE MAINLY TO BIG RUBBER easier with buyers at 8711. Hong Kong Trams have had a setback in the beginning of the week to $18.40, but ended firiner with bayers at Chinn Lights after being $187. offered at 8101, came into strong de- mand and were negotiated at 820, but finished up with sellers at this Star Ferries have changed rate. hands at $71 and 8711. Telephones

There was also a marked increase have continued their rise and are

in the quantity of petral and oils in demand at $9.00.

Miscellaneous-Green Island Ce-imported by the oil companies

established here. ments (Combined) were placed at the improved price of $151, but sub- sequently receded to 15 with sales and buyers. Hong Kong Ropes are to be had at $7.80. Dairy Farms were taken off the market at $201. Lanc, Crawfords at 82.20, mark a rise. Watsons have buyers at 811.10 after sales at $11. Amusements are wanted 'nt $28.

The value of exports last year was 8021,791,000, as compared with $41,563,000, showing an increase of 880,990,000.

The Lotni value of Malayan trade Cotton Mills.-Exos have changed last year was thus 81,820,017,002,

or £210,235,000 sterling." bands to a fair extent at Ta 15.76

|

"Mr. Mitchell noted an increase in the number of shareholders to 62,568 at the end of last year from 19.402 a year ago, this wider dis- tribution being largely the result of the reduction of the par value of the stock from U.S. $100 to U.S. * per share effective last February

15

Discussing general conditions,

Mr. Mitchell said with the leasen ing demand for credit in stock market, interest rates have fallen to normal figures, and considerable sums of foreign enpital which had been employed here either in the form of loans or investments have been withdrawn. This return flow tends to restore international equilibrium, which had been dis- turbed by our importations of gold ir preceding months of the year, and to promote more normal credit conditions the world over. Fall of prices on New York Stock Ex- changes has been acompanied by similar movements on the Stock Exchanges of Europe, and the aggregate effect is a substantial levering of interest rates in all moner markets.

"Industrial production in the first half of year was at a rate never before equalled, and notwith- str.ading the slackening in the last half the year's total probably has not been equalled in our history, The country has also made a new high record in foreign trade in past year. With alloyance for decline of prices from post war peak the aggregate figures are greater than in any previous year.

Banquets..

Kailans

T13.00 Langkats (comb.)...

!!!!

350

$30

:

35/

T.7

Do. (single).

T1.30 Explorations....

T.3

Shanghai Loane ***

$12

Rouba *******

#12

21/-

Tronah Mines

20/-

Docks, Wharves,

| |• Godowns, sto.

$744) 851

$145

$5.45

H.K. & K. Wharf... $145 Providents

$51

$311

H.K. Docks

$301

-

T.108 Shanghai Docks

T5

New Engineerings

T.101 T.7

T.190 Hongkews

Cotton Mills

EwO8

$15,60 T.83

$8.00

$98

$13.60 $18.00

Shai. C'tons (old)...

FROM

JAPAN & NEINERAL

SHANGHAI & AKOT,

A MOT STRAITS DEARGHAL

SANDAKAN

MANILA

1**

14

Japan & ShaNG'AL.

JAPAK

JAPAN & SHANGHAI

י',

PEK

21st Jan

++

22nd Jan.

S4th Jan.

25th Jan.

Pros. Jeftaz

17th Jan.

Pres. Gruni

31st Jan.

2nd Feb.

U.S.A. (Seattle, 29th December 1929),1

CANADA, JAPAN & SHANGHAI ...

Calcutta & STATIS

JAPAN & SUANGHAI

Pros. McKinley.

Trisarea...

...Nanchang

Siberia Mare

Tjibadak Takada

Hruna Maru Onderkerk Darith

•

Pras Tall Tenyo Maru

Montevideo aru Antenor

Th

Ho Sang...

... Hakosaki Alarm

1† Prex, Adama

U.S.A. (San Francisco, 17th Dec., 1929).

HONOLULU, JAPAN & SINGH 1 U.S.A. (San Francisco, 3rd January

BONOLULU, JAPAN & SHAMORAI U.S.A. (Seattle, 11th Jan.), CạnĀDA,

JAPAN & SHANGHAI ... CANADA (Victoria, B.C., 11th Jan.

U.S.A., HONOLULU,JATAN & SHarunas] Emp, of Leis

OUTWARD MAILS,

Lπ

Jahip due 17.8 p.z.

+8th Jan.

18th Jan.

18th Jan.

18th Jan.

19th Jac.

19th

19th Jea

Jan.

20th Jan.

Jan.

20th Jan.

21st Jan.

200

9 th

REGISTERED and PARCEL MAILS are closed 13 minutes earlier than the time given below unless otherwise stated, and where mails are advertised to close at or before 9 a.. registered and parcel mails are closed at 5 p.m. on the previous day.

PXX

DATE & TIME

Saturday, 18th,

6.30 A Lovelan P.O. Beg.

9.00 &

Laiters 10.00'

G.P.O."

Hog.

Letters 10.80 a

Noon

For

T15.60

T15.50

T841 T.55

014

T.101

Hoihow, Pakhoi & Haiphong

$18.80

7.54

T.10

Do. Zoong Sings.

(DAW)...

Lands, Hotels and

Bulidings

$121, 55

665

H.K. & S. Hotels... $12.40 H.K. Lands

12.40/50

3041

Shanghai Lands ...

H.K. Realtys.

$3.65

Tramways,

81 $6,05

***

***

$70

$20

Do.

$71 $71

H.K. Electrica......

Macro do

82)

TIB

10/-

19/

823

80.55

*: : : ፮፷፰፡ ፧ እ

$18,70

tes

$70

Humphreys - $14.80

Chinese Estates...

Public Utlos

La

Peak Trama (old)... $11

De. (new) Star Ferries

C. Lighta (old)......

(now)......

Sandakan Lights ....

871 $71

Telephones... 501

China Buses............

Tractions...............

Do. (pref.)......

Industrials

Caldbeck; 1(ord.)

Macgregor/ref.)

Canton Icea********

Cements (comb.)... $14.80

810

0/-

Limchoro

Khics...

***

vis Marseiller-duo Marseilles, 15th Fab. Dary

Streita, Ceylon, India, Mauritios, E. & *8. Africa, Ade, Egypt & EUROPE

Fort Bayard

Straits and Calcutta

Manila

M

A moj

Bhanghai

Formosa via Swalow & Amoy Bangkok via Swatow

watow, Amoy & Foochow

Manila Shanghai

Wing Zoo

Borneo ar Pres. McKinley

Bhirala ...

Glengarry

Janion Harus Kalgan

Las Ning

Chaderkerk Horuna Mara

... Hydrangea

Antilochus

Japan, Canada, U.9., C. & S. America EUROPE is Victoria, B.C.--- dus, Vistoria, B.C., 7th February... Shanghai and EUROPE via Biberia Swatow & Amey Swatow..

*

T

1.30 ** 4.30'

5.00 PM

élte a

6.40

Sonday, 18th,

9.00 A

9,00 A

9.00AM

Monday, 20th,

9.30 10.80 A X

230

2:30 PM

Swatow Straits

41/15

Manila

$112

T.11

T.10

$21

815 $151

5111

Do

(old)...

Do. (new)...

STA

Hopes

81

China Sugars..

827

Malabon Sugara ---

829

United Asbestos ...

MiscellaneoTLE"

Amoy

"All in all the past year has The total declared value of im-cleared itself, with difficulties to be aure. of the dangers that menaced 4t from its very start. The correc-. ports Inst year was 9560,228,000, as compared 359,838,000, in 1928, show.

tives have caused the New Year to ing an increase of $20,388,000.

begin with somewhat diminished business activity, but the business any respect nor is the physical organization is not incapacitated in wealth of the country impaired. Quite generally industry and trade are more adequately financed than. at any time in the past. No serious

has occurred. The decline of in- prise, and the amount of construc tional work planned for is greater than usual. A general feeling of confidence exista throughout the $16 country. In view of these condi tions, it does not appear probable that business will remain below the normal stage of activity for day protracted period."

The value of trade per person

to Tls: 15.00, the market closing within Malaya last year, basing cal.disturbance of commodity prices

buyers at

Tis. 151.

Shanghai

Coltons (Old) are enquired at Tis.culations on an approximate poterest rate is favourable to enter

83.

*

Rubbers. The following are the latest cabled quotations received from Shanghai:-

#

Anglo-Javas

Anglo-Dutch

Batu Anaing

Chemors

Consolidates

Kroewocks

Repahs

Tanah Merahs

Tebonga

Zianglesate

Buyers.

1. 0.60 1.00

0.50

1.00

9.25

1.35

1.00

0.05

1.55 5.00

pulation of four million, reached the remarkably high figure of £52. The corresponding figure for Great

Britain in 1927 was £45.

The average value of rubber fell fell from approximately 37 çents in 1939 to 32 cents last year, but the increase in shipments more than compensated for this drop.

Rubber imports rose from 149,787 tons in 1028 to 161,504 last year, and rubber exports rose from 108,003 tona to 577,202 tons.

The gross value of rubber exporte rose from $329,000,000 in 1928 to: Forward Settlement Days-Jan-8432,000,000 last year, and that in uary 24, February 20, and March 25, spite of a 16 per cent. fall in price.

1930.

ببینه

HOW TO CONTROL THE COTTON MARKET. MATTER OF OWNING MIL-

LION BALES !

Washington, Jan. 11.-Mr. Ralph Jones, & Virginia cotton merchant, testified before the Senate ccm- mittee investigating cotton prices and declared that present depressed prices are due to manipulation in the cotton exchanges.

have been

Bullish operators driven out of the market by a "big straddle" on the part of manipul ators, Mr. Jones said.

He declared that W. L. Clayton of the firm of Anderson & Clayton, in Houston, Texas, wields the big- gest single influence on the market. "Mr. Clayton is the king of all cotton manipulatore," the witncas asserted.

Mr. Clayton recently testified against the increased Firm Board' lour to the growers. In the sourse of his testimony, Mr. Jones said them ashab - amigorfaend Ipan would cost Mr. Clayton G85,000,000.

He agreed with Senator Smith of South Carolina that any firm own- ing 1,000,000 bales of cation- could control the market,

The above figures cover the Malay States and Straits Settlements, but not Labuan, Brunei and Christmas Island.

EXCHANGE RATES.

(BRITISH WIRELESS SERVICE]

Ruaay, Jan. 16.

Paris New York Brussels

Geneva

Amsterdam Milan Berlin Stockholm

Copenhagen

Oslo..... Vienna Prague Helsingfors

Madrid Lisbon Athens Bucharest

Rio Buenos Aires

Bombay

Shanghar

Hong Kong ...H PHỤC Đ

Yokohama Silver (apot) ..... Silver (forward)

123.82 4.86 15/16

34.955

25.65

12.119

93.08

20.385

18.135

18.20

18:215 34.60

1641

1939

36.675

108.23

376

818

3 13/32 447

1/5-15/16

1/07

2/07/32

217/18 21 1/16

NEW YORK STOCK

QUOTATIONS.

New York, Jan. 10. Market stendy. Hainess done 2,386,100 shares.

Allied Chemical & Dye... Allied Power & Light... American Can. ... American Rolling Mill American Smelting American Tel & Tel. American Tobacco "1" American Waterworks... Anaconda Copper Atlantic Refining Baltimore & Ohio Bethlehem Stoel Caldmet & Hecla

Canadian Pacific Railway Cheapeake Corporation, Chicago Northwestern Chicago Bock Island

Chrysler

Cities Service, Common Columbia, Gas & Electria

Columbia Graphaphons

Bolvents

Pera N. Y.

Continental Oil.. Corn Products .......... Coty, Incorporated Curtiss Wright, Common

Davison Chemical:

Du Pont de Nemours co Eastman Kodak Company Electric Bond & @bare Erie Railway

General lectrio General Food 2. General Motors... Geroral Enilway Signal Gold Dast

Jan, Jan.

B

10

***

261 266

301 881

87

2!,

$20

Constructions

*** 31.10

Dairy Farms...

Der A. Wings..............|

Amusements. 828

Lane Crawfords ...82.16 Mackintoshe

Nanyang Tobacco. 84

Sinceros (old)..

$202

$0.80 $28

$2,20

31.30

$22

2010年

is "

Do

(new)

892

Watsons.n

8111

Wm. Powells. 82

H.K. Govt. Losa ...

44 45

Union Paafla Railway...

69) 56

$11.10

60%.

prem.

Ocodrich Rubber Goodyear Tire & Rubber Granby Great Northera

Haygart...

Certificates

International Cement ... International Comb. Eng.

"International Harvester

International Nickol International Printers Ink

Prod. Com,

1231 1233l & Tal

881 Joha

Manville

J

... 74 74 Eennooott Coppor

2201 218

Lambert Company. .... 2011 209 Lehigla Yalley

01) 85 Liggett & & Myers "B"

B. Ind. G. Bouds... 611%

United Aircraft & Transport United Dry Docks

94 94 U.S. Leather "A

Ung, UB, Realty & Improvement

... - 381 Unq.

Ung. 574

801 81

35

act

... Ung. Ung.

Unq. Var.

Th

128 127

60 80

***_961 97

Ung. 74

70 761 Madison Square Garden Unq. Ucq.

ari Paciño (Com.)

38 981 Mioari

118 117 | Montgomery Ward

951

00. Ung. 481 401 31 301 Consolidated Copper...

1681 168

981 82311 New York Central 109 193 Northern PaciBe Railway.

06 Pacife Lighting 65 841 847 Packard Motor Car 110 116-

TH

Famous Lasty Eailroad... 29 201 Pornroad Corporation...

78 77 Philips Petroleum

301 201 Public Service of N. J.

301

20% Radio

Radio Corporation

221 Raybestos

103 1014

22122 Reading Ballway

80913 Reynolds Tobacco "B"

29 201

28

74

Beare Hoobuck...

Union 7 Sbell 2030 Simmons Company 1104 111 Southern California Edison 178 179) | Kontsern Pacific Railway

861 891 Stazidard Gas & Electric

07 57 Standard Oll of New Jerky...

On of New York

Vor 2351T Tora

5. 20118orporal***

483 481 Texas Gulf Sulphur

391 301 Timken Roller Bearing 891 B1 Trans America... 401 401 Union Carbide & Carbon

BG) 881

U.S. Steel

Vanadium

ng Egg Layinuing

218 218

491 Ung.

***

Sunita, Ceylon, India, Mauritius, E. & *3. Africa, Egypt & EUROPE via Mar- reilles-dae Marseilles, 18th February)

WOW... Foochow

Shangha, Japan, Honolulu, 0.8A, Canada, C. & S. America & EUROPE via ban Francisco-due. San Francisco, 13th Feb., & LUROPE via Biberis.... Manila, Australia and New Zealand via) Thursday laland-doe Thursday Island, 3rd February

Shanghai & Dálny

+

*

Japan, Canada, USA. *0 % •S• America & EUROPE via Victoria, B.C.due Victoria, B.O, 18th Feb. and* EUROPE via Siberia

61 81 Unq. 391

62

621

171 171} 527

531

Straits & Caloc£t

Fres. Tafi

Parcola Beg..

3.00

Letters

4.15 PM 5.00

Beg

1.00 M

Prei. Tall

Letters

Anhui

61,0107 3.8

x

Bintang

- 6.00 M

Titadak...

Roy

Antenor

[Letters

Bag.

Tuesday, 31st,

3,30 AM

Kowloon P.0.

4,30 x M

4.30 PM G.P.O.

Catters 6,00 PM

6.00 r 5.00 PM

5,00

5.00 M

Latters" 6.00 P

Beg.

5.00 P. Wednesday, 22nd Lotter 8.SJA M..

Bosang Hangrang Yuxing

Tenyo Maru

N

Brg.

Aki Maru

Wednesday, ind

Straits, Ceylon, India, Mauritius, E. &. 8.1

Afries & Bouth American Porta

Chenan

...Montevideo Maru.

1,80

1.30

$104

Thursday, 29rd,

Holbow, Pakhoi & Haiphong

Chusan

Bog.

8.30AM

9.45 & M

Inton

Kumsang

Haiyang

Jakosaki Mars

NOOD

Lottera 10.30 ▲ Par. Letters 1.00

Friday, 24th,

1.00 M

Bowloon P.O.

Beg.

4.30 PM.. Le1,25th, 9.00 AK G.P.O.

Reg. 25th.8.45 & V | Loitors 2,30 ▲ a

Saturday, 26th,

5.00

Westinghouse E. & M. Com.... 148 149

NEW YORK AND THE SILVER SLUMP.

NO OFFICIAL QUOTATION FOR LONDON PRICES.

NEW Yonk, Jan. 10. London silver is not quoted in commodity prices to-day since, due to the recent wide #uctuations, off- cial quotation on silver prices is not available.

Bwalow, Amoy and Foochow

31ralta, Ceylon, India, Mauritius, E. & 9.7

Africa, Aden, Egypt & Europe via Marilendae Marseilles, 22rd February

Foochow & Woi Hai Wei

Bhanghai

Bangkok via Swałow

Merchants are refusing to accept Swatow... silver, it was reported, due to the difficulty of determining the rate of exchange.

Many banks are using Thursday's prices.

UNCLAIMED TELEGRAMS.

Cheong Shing

Taiyuan... Kianga

Sunday, 26th,

8,30 AM 9.00 AM

Boochow

Monday, 27th,

500x

Tododay, 281b, Kowloon PU.

*aigon, Ceylon, India,

East and Fouth Africa; Aden, Egypt & EUROPE in Marseilles--- doe Marsellion, 28th February

Sandakan

Maniline,

Ephine..

Amoy

781 78 101 101

61 217

73 74

18 18

33 34

801 80

414

SR 30

30

1241 1241

491 491

87t

Bey. 1.00 PM Letters 1.00 M-

Bog. Dottora

G.P.O.

221 201

13 901

120 1201 117 116

Mausang...

Fram

1.45 P 2.30 M 1,80

Wednesday 29th,

33.

81

67 671

Mohameddin, Bhor

makor,

Usq. 77

Somerset

...Sinapore

Manila

Empress of Asia

180

„FEBRUARY—

2,80

Soban Singh Jat, Bikh

801.

..Patti, India

* Superscribed correspondencs only.

67 57 AT THE EASTERN EXTENSION,

AUSTRALASIA AND CHINA “ TELEGRAPH CO., LTD.

Tample