1930-02-28 — Page 11

Money and Markets

THE BANK OF EAST

ASIA, LTD..

LAST YEAR'S NETT PROFIT

$1,100,000.

The Eleventh Ordinary yearly meeting of The Bank of East Asia, Ltd. was held at 4.30 p.m. yester day, at its registered office, No. 10, Des Voeux Road Central.

RUBBER.

TONE OF MARKET BETTER.

Messrs. Penetreath & Co. have forwarded us the following letter dated January 29 from Messrs. Hornby Hemelryk & Co., Liverpool. The markets have been somewhat more interesting during the past weck, and on balanes values are about 3d higher.

THE HONG KONG DAILY PRESS, FRIDAY, FEBRUARY 28, 1930.

NEW YORK STOCK:

QUOTATIONS.

Market weak,

Basiness done, 3,601,070 shares.

Adams Express

DAILY SHARE QUOTATIONS.

HONG KONG STOCK EXCHANGE.

Now York, Feb. 20.

SHAREBROKERS'

ASSOCIATION."""

Feb. Feb.

10 20

Bayer Ballers

Buins Nominati

... $3 921

THURSDAY. FEBRUARY27.

Buyers Ballers Bales Nominał.

270 271

Allied Chemical & Dya....... Allied Power & Eight ... American Can,

American Rolling Mil... American Smelting American

ican Tal, & Tel. Amirican Tobacco "B" American Waterworks... Anaconda Copper Atlantic Refining Baltimore & Oblo Bethlehem Steel calamat & Escla Canadian Pacific Railway Chicago Rock Inland Chesapeake Corporation Chrysler...

**་

*

Cities Bervice, Common Coinmble Gas & Electris Celambia Graphaphone Commercial Bolvanta... Commonwealth Southern Consolidated Gn of N. T. Continental Of...

Darison Chemical

Da Font de Nemours ... Kartman Kodak Electric Bond & Share... Erie Railway Fir "A

There has been some enquiry from Sir Show-son Chow presided and the Continent, and home manufac- turers have also been in the market among those present were:-Messrs. Fung Ping Shan, Li, Koon Chin, to a amall extent. Further, the P. K. Kwok, Wong Yun Tong, market has received some stima-Cara Products .... the Coty Incorporated Wong Chu Son and Chan Ching lation from reports that Shek, members of the board of Dutch East Indian Government Curtiss Wright, Common directors, and the following share favours some scheme of restric- holders:-Messrs. Pun Hui Chotion, but that it must ba + Chow Chi Nam, Chin Lin Fong, Lui Ming Fong, Li Tung, K. K. Wong, P. K. Shek, Chan Tie Choy, J. N. Wong, Leung Tsun Hing, Li Pak To, Tam Cheung Taun, Loong Tin Tong, Li Nam Sang, K. E. Lee, Thomas Tam, Too Shuk Koon, Wong Kut Hing and many others.

THE CHAIRMAN'S SPEECH.

Addressing the meeting the Chair- man said:

"

**

3

voluntary scheme introduced and carried through by the Growers.

Our Amsterdam correspondents point out that the wording of the official communiqué is rather vague, and that the Dutch East Indian Government has taken good care got to bind itself. Our friends consider, however, that it is some thing to know that the Dutch au thorities, who produce themselves 0,000 tons per annum, have express ed their willingness to co-operate. The difficulty will be the native production, but it ought to be pos

arrive at some Bible to operandi acceptable to the Govern- ment.

modua

The result of the year's working, including $401,749.74 brought for ward from the previous year, shows a nett profit of 81,192,027,92 which, I think you will agree with me, is quite satisfactory.

You will observe from the Balance Sbeet before you, that the grand total of our assets and liabilities stands at over 831,000,000 showing

U.S.A. Manufacturers Indifferent. an increase of about $11,000,000 over that of the previous year and in American manufacturers have not dicating the progress made by the evinced much interest in the mar Bank during the year under re-ket, and they can hardly be expect view. The increase is mainly to be ed to do so until the weight of found under the heading of de- Rubber available shows some signs posits, which, I am glad to be able of easing off. American consump to say, show steady growth both here tion figures for January are esti.

aated at about 32,000 tons. and at all our branches.

Expansion of Businesa.

In keeping with the general ex pansion of our Bank's business, there is an increase of about 81,700,000 in our loan account while the amount of the bills held by us at the end of the year is about 21,000,000 higher than last year.

We have written off a sum of $43,790.85 from Bank premises and in addition to the usual deprecia. tion on furniture and fixtures, which include our fine installation of Safe Deposit Boxes in Hong "Kong, Shanghai and Kowlcon. The directors are seeking your authority to-day to write off a further sum of 821,256.34. This account will

The shipments for the current month have undoubtedly been heavy, and when the figures are known early next week, we" may have a slight setback, although it has been known for some time that the shipments will be large.

The tone of the market is, to our mind, a little better, and we are inclined to look for a better and much more active market in the early Spring when we consider that forward positions bought at about current prices should show, a satis factory profit."

Stocks: London 59,084 tons, Liverpool 20,063 tons, a total in

créase of 023 tone.

Close London last night-Spot then stand in our books at the 7, April/Juce 7.13/16d, July! Sept. 8.1/16d, Oct/Dec. 8.5/16d, nominal sum of 81.

Jan/Dec. 1931 od, buyers.

General Reserve $1,750,000.

*

Our New York correspondents cabled last night that the market fa The directors feel no doubs that dull and quiet due to the impend you will endorse their policy ining Chinese holidays. transferring the sum of 8250,000 to Close New York last night :- General Reserve thus bringing that May 15.70c, July 18.100, Sept account to a total of 81,750,000.

The total amount of cash avail- able, together with the amount of bullion in transit represents over 70 per cent. of our liabilities on current and deposit accounts.

The directors' recommendation of a dividend of 86 and a bonus of 82 making a total distribution of .88 per share in the same as last

year.

16.50c.

VILLAGE DEFIES CHURCH LAW.

APPEAL TO THE PRIVY COUNCIL.

A tiny parish in Norfolk, with fewer than 300 inhabitants, has en- Haiphong Branch Opened.

tered into a legal battle with the Taking advantage of the quiet powerful Ecclesiastical Commis

eloners

condition prevailing during the The case will attract the atten- summer, our Chief Manager paid tion and interest of church people visit to French Indo-China and in all parts of England, for it is the Straits Settlements for the pur- a test case concerning the compul- pose of making preliminary ar-tory union of benefices, which is rangements for establishing bran ches in these important business now being carried out in every

English country. centres in the near future. On his Little Massingham, a picturesque return the directors decided to open our own office in Haiphong hamlet near to King's Lynn, on the borders of the King's estates at in extension of our fixed policy Bandringham, has decided to lodge. of providing more facilities for

an appeal before the Judicial Com- Chinese abroad. I am glad to in-

mittee of the Privy Council against form you that this office was duly the decree of the Ecclesiastical Com opened for business on January 13missioners that Little Massingham this year, and the inauguration ceremony was well attended by all should be combined with Great sections of the community, includ. Massingham for all church pur- ing many high officials,

I do not think there is anything

poses.

Since 1920, when power was given

to the Ecclesiastical Commissioners

For

General Electric General Food General Motors General Bailway Signal Gold Durt Goodrich Rubber Goodyear Tire & Rübber Granby...

****

Great Northern Certificates International Cement ....

International Combus. Eng. International Harrister. Inter, Hydro-Electris “A” International Nickel

401 481 0401 1547

71

* 230 231

201

$1,350

... 233 239)

cu

105 1014

B16 £29

79 711

* $0 38}

...183 1151 1001 001 201 201

501 281 301 31

118 117+

$105

£15t

100

Banks

****

FK Banks

Do. (London)

Chartered Banks

Mercantile Bks. “A”

Do.

Bank of East Asia.... 196

Insurances

C

210

$1,350

£19 LIN

215

144

FOREIGN MAILS.

RADIO NOTICES

The Radio Ofica, where fall information concerning ill wirelses sorticos may be obtained at all times, is situated on the ground Boor of the F. & U.. Bailding in Des Yeux Road, next to the General Fat Off

Individuals and Arms are recommended to register their telegraphie ad- dreades at the Radio Ofics. No charge is wada for this.

It is notified for information that with effect from 26th February, 1930, the local currency rates for radio telegrams to the scuntries named below will be ino Sased as shown

TH

Indo-China

Netherlands East Indies

$0.65 .80.90 81.10

"INWARD MAILS.

FROM

Pix

J

2101 211

...73 797

...1221 191

$765

Canton Ins.

8740

87 37

$1.70

Underwriters

J130

& SHANG BAI

Fr. Pierce

18th Feb.

T180

82 891

T.100

North China

ALE377

Union In

$380

"Macedonia

28th Feb

M.850 Yangtze Ins.

$80

* Sunning s

1st Mar.

18

$340 $890

China Fires

KANILA

Pres. Madison

Brd Mar.

H.K. Fires

8880

STRAT

Alula Maru

Srd Mar.

47

Tasyo

4th Mar.

224

JATA

JAPAN

Bydney Moru Kashmir...

6th

7th Mar

$95

$50

Emp, of Canada

8th Mar

$90

St Albans

10th Mar,

U.S.A. (San Francisco, 14th

February),

Pres.. Jackson Toi Ping

10th Mar.. 11th Mar

291

45

Shipping

204 20

90 941

101 10

$261

Douglases

551 37

$26

$261

Steamboata

126 134

$43

Indos (pref)

2094 2014

870

Do. (del)

101 951

23/6

Shell Transports

60 581

$951

Water-bouts

93/6 96/+ $141

***

$1

Mining

ZHU

50/-

Benqusta.

Kailans

T13.60 Langkats (comb) T.7) Do. (single)

T130 Explorations...

Shanghai Loans

T.5

$143

Raube

21/-

Tronoh Mines

#149 19/3

Docks, Wharres,

130 192

55 56

$5,80 | 35) $3$

103 103

T.125

971 901 T7.80 79 79

International Printers Ink. Unq. Ung International Product Com... International Tel & Tal Johns Manville... Kanzscott

Copper Lambert

Trucki Mack Liggett & Myers "".... Madison Square Garden Missouri Pacific Common Montgomery Ward Nevada Consolidated Copper Now York Central "Northern Pacific Railway

Packard Motor Car

Pacific Lighting

Paramount Famous Lasky

Railway.... Pennsylvanis Perinroad Corporation... Phillips

Petroleam Pablic Service of N. J.... Badio Corporation Reynolds Tobacco "B" Bears Boobuck... Shell Union Simmons Company

T.198

12)

Unq. 907

42) 431

271 275

188 181

041 031

83 82

451

201

7.161

T.83

***

T.82

Ενός

Do

(new)....

$5.45

Godowns, etc.

8156 H.K&K. Wharfa... 31541 $1551|

Providents

H.K. Docks

Shanghai Docks

Now Engineering

Hongkews........

Cotton Mills

Shai. Ctons (old)....

Zoong Sings

Lands, Hotels and

Buildings

HE. & S. Hotels...) H.K. Lands

Shanghai Lande ... E.K. Realtys............ Humphreys

Chinese Estates

Public Utilities

Tramways *****

87

STI

18

IS

6810

107

15+ Ung.

294 29

$123

$12)

T.920

57+ 88+

$8.30

211 211 814

60) 681

$98

**

841 021

... 124 123

129 118

812 31

510 61

611 80

75%

461 Ung.

Southern California Edison... Southern Pacific Railway Standard Gas & Electrio Standard Oil of New Jersey Standard Oil of New York Texas Guf Tea Corporation Timon Roller Bearing

Sulphur

Frane America ...

Union Carbide & Carbon

581 581 $19.50 $19.90)|

10%

***

IM

USA. (Seattle, 9th February), Jaran){

44

Jəran, ShanghaI & EUROPE via

Sibe in (London, 8th February) SHANGHAI & SWATOW

U.8.A. (San Francisco, 6th February), į

HONOLULU, JAPAN & ÕUAKSUAL

SHANGHAL

CANADA (Victoria, B.C., 15th Feb.

U.S.A HONOLULU,Jaran á DHARQUA); AUSTRALIA & Manua

Honolulu, Japan & Skavenāi Australia & Manila

"OUTWARD MAILS,

REGISTERED and PARCEL MAILS are "closed 15 minutes barlier than the time given below, unless otherwise stated, and where mails are advertised to close at or before 9 am, registered and parcel mails are closed at 5 p.m. on the previous day.

Haviln

830+

T.120

FOR

Pa

Date & Track

Friday.

28th,

Kendal Calls Rawalpindi Halyang Albert Forgler

10.00 A

10.30 A

Shanghai, Japan & *EUROPE vis Siberia Swatow, Amoy & Foochow

Manila & Parcela for Germany via Hamburg

Straita, Ceylon, India, Mauritius, E. & B.

Africa, Aden, Egypt & EUROPE Macedonia vla Marseilles-due Marseilles, 28th March

Swatow, Amoy and Foochow

Japan, Honolula & South American Ports Rakuyo Mare

1:00 P 4.30 PX

Kowloon PO... Parools · 4.30 ɛ y (Reg., 1st, 9.00 ▲

Letter 10.00 AM G.P.O.

Par 28th, 6,00 bdg., let, 9.55 a 1- Better 10,80 & W- MARCH

Saturday, 1st,

8.80M

T15.00

T.834 T.31

Haiphong

Manio

812.30

$643

Baigon.

$14

Formcas

Holbow & Haiphong...

Bangkok via Swstow...

Hi!

E

་་་

C

Swatow, Amoy & Formosa

Straits & Calebin

2nd,

8.30 AM

· 8,30 A. M

G. G Paul Haiyana

1.03 2

Pre Madison

4.50 F *

6.00 2.14

Waishing...

5.00 PM

Sunday,

Hamburg Maruh....

New Mathilda

9.00 AM

Kaying

Canton Maru

- 9:00 am

Monday,

3rd,

Nooa

819.8

Kutsang

Lotters 1,00

$11

$6.05

Dr.

Peak Trams (old)... $11

(new)... 55

968

Star Ferries

$562

867-

$19.20

C. Lights (old).....

320 315

$15

Do. (new)................

Do. (comb.)..

8224

HK. Electrics

8601

Japan, Canada, U.S.A., C. & S. America & EUROPE vis Victoria, BC,... das Victoria, B.U., 1st March Shangbai and EUROPE via Siberia

Parcals

3.00 ·

Prea, Madison ... Beg.

4.15 Y M

Letters Beg.

5,00 M 1,00

Pres. Madison ... Letters.

6.00

Macao do.

39.60

Shanghai, fapan & EUROPE via Siberis Alauta Maru

Eutiang Calcutta via Straite

Taming...

Par.

i

8traits, Ceylon, India, Mauritius, E. &·8.5

Africa, Egypt & EUROPE via Mar seille-due Marseilles, 4th April...)

Philocteten

1.00 M

G.P.O

Beg.

$1.45 M

2.30 PM

Fai Ning... Kwai Bang... Empren of Zaid

*

De Muti. Talon Pacific Railway...

... 231 228

8593 Falled Aircraft & Transport... 50) 401

Ung

B23 Unq United Dry Docka

... 185 181) 80.83

·Frá 19 199. ***

U.B. Healty & Improvement C.S. Strel Vanadium Westinghouse E. & M. Com. 176 171

68 66 T.17

19/6

10

EXCHANGE RATES.

[BRITISH WIRELESS SERVICE]

Sandakan Lights ...

Telephones........... China Buses .......... Tractions

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

Industriala

Caldbeck, (ord.)

Macgregor (pref.) Canton lees............... Cementa (comb.)...

Do

(old)... Do. (new)...

China Sugara.

Malabon Sugars.

United Asbestos

MiscellaneoRN

$22.40 Dairy Farms....

Der A. Wings...

$1400 $14.80

Hoihow

$114

3watow, Amey & Foochow .... Swatow...

Shanghal, Japan, Canada, U.S.A, C.

&B. America & EUROPE via Van-[| couver, B.0-doe Vancouver, B.C., and Mar, & Europe via Siberia..

181

$.30 AM

Tuesday, 4th,

10.30 AM

Noon

Letters 1.00

Kowloon P.Q. Beg 1.00 TX Letters

Letters

2,00

5,00

Parcels 5.00

Wednesday, 5th, Kog 9,15-A

titors 10.0JAM Wednesday

5th.

7.10

T.10

821

$142 $14.85

$11

841

RUGBY, Fe 20.

$7.85

Ropes

Paris New York Brused's Geneva * Amsterdam Milan Berlin Stockholm Copenhagen Oalo Vienna Prague Helsingfors

124.90

80.75

4.88)

827

34.883

$5.

***

25,195

Bandakan

12.12

Straits

92.77

$22

Amay

20.365

$0.60

18.115

$28

Amusementă ».....

18.155

31.30

Constructions

3281 81.20

Manila, Australia & New Zealand via?

Brisbane due Brisbane, 22nd March

Sweżow ****

Hinsang Laomedon... Nanning Sydney Haru Okusam

10.00 AM 10.00 AM

3:30 P

Begu Letters

4.182

6.00 P

5,00 M

18.18

$3

Lane Crawfords ...

$3

Briday,

7th,

24.515 1644 163

$18

Mackintoshs ********

Nanyang Tobacco...

84

Wei Hai Wei

$12

Sinceres (old)...

Swatow, Amoy and Foochow

Kurichow... Hatching...

910.40

Madrid Lisbon Athens

39.275

Do. (new)

89.90

v

108.25

813

Watsons ser

$12.20

Bucharest

375 818

12)

Wra. Powells.

$2

60"/

B. Ind. G. Bonds... %

5.17/32

54%

prem.

H.K. Govt. Loan .......[ $105}]

Buenos Aires

42

Holiday

1/11

1/6

2/09/32

198

19

Rio

Bombay

Shanghai Hong Kong Yokohama Silver (spot) Silver (forward)

that requires my comment except to smaalgomate parishes, an store FILL YOUR FOUNTAIN PEN

that I wish to express to all men ed union has been decided in 191 bers of our staff both here and abroad our great appreciation of the good service which has played so important a part in the success ful year's working, which Lain how able to lay before you.

I beg to propose the adoption of the report and accounts and after this has been seconded I will en deavour to answer any questions you may wish to ask.

Mr. Pun Hui Cho recorded. There being no questions the adoption of the report and accounts was carried unanimously,

On the proposition of Mr. Thomas Tam seconded by Mr. Li Nam Sang, Messra Percy Smith, Beth, and Fleming were re elected is the

instances, and the appeal of Little Massingham, on grounds which many church people consider to he of national importance, is the only one that has been raised.

Why Little Massingham objects to amalgamation is set out by the rector in a statemen to the Press. "The benefices of Great, and Little Massingham," declares the Rev, F. L. Brereton. "are well ea; dowed with annual revenues of about £50 and £650 respectively. No question, therefore, arises of union for reasons of poverty.

"It is proposed that 2250 of

and write a Ohit to 11, Toe House Street

BEFORE YOU SAIL

and order the Weekly Press to be sent to you Overscka. It costs

joint tithe shall be alienated for $3.75 for three months.

parishes twenty to forty miles dist-

ant. Local feeling is very strong $1.50 for six month

that angient tithes, collected for

auditors for the ensuing year. centuries in the parish, should not $15.00 for a year.

The meeting then terminated with the announcement by the Chairman that dividend warranta would be ready on Friday (to-day).

be thus arbitrarily taken away. We who are contesting the justice of

such an act believe we are raising

a question of national importance.

·LOCAL AND REGULAR OUTWARD MAILS,

Canton

Straits, Ceylon, India, Mauritius, E. & S.;

Africa, Egypt & EUROPE vis Mar seilfords Marseilles, 5th April

Kashmir

WEEK DAYS.

SUNDAYS & HOLIDAYS Knis

For

Fox G.P.O.

FROX |SHKUNGWAN.

BRANCH P.O.

FROM G.P.O.

FBOX [SHEUNGWAN

BRANCH. P.O.

Swatów

Emp. of Canada...!

Норма

*Superscribed correspondence only.

Macao & Teimaban

€7.16 am. &} 16.00 p.m.

7.30 a..

! 7.00 p.m.

(7.15 am. &} (7.30 am, & 5.00 p.m. 7.00 pizz Bundays Sumlays (5pm, only 7.00pm.

only

8.80331

(7.15 am, & 11.15 p.m.

7.30.. 11.30 pi

(7.15 km. &) (7:30 am, &

1.15 pm.

1.20 p..

Bundays

Sundays

8.15.

only

Lonly

8.00 p.m.

6.00 p

1.00 p

6.00p.m.

7.15 m.

8,00 m

Kongmoon (except Saturdays) 8.00 p.m. Kaukong (except Saturdays)... Fatahan (By Train)

Tai O Ti Fo

not

Shumchu

Cheungchow

7.16 a.m.

2.00. (9.00a.m. & 11.00 p..

[ 9.00 am, & 3.00 p.m. 12.30 p.m. | & 4.30 p.m. Haturdays

3.00 p., & [4.80 p

· *ard 007.

9,00 K.,

110a.m.

(11.00 .m.

{& 4.30 p.m.

8.30.m 1.00 p.m.

Aberdeen

8.30.10.

Stanley

1.00 pm

Autan, Pingthan, Santin,

Shatin, Shataukok and Sheungani

8.00 pm.

10.30 m

Balkung

4.30 p.m.

4.30 p.m.

Nemtan, Shakki & Taiping

(Famdin)

7.00p

YOU KNOW

8.30 AM

1.00 E

Kowloon P.O. ;:

Parcela 480 Beg, 8th, 9.00AM. Letters 10.00 AM G.P.O. Far, 7th, 5,00 M flog, 8th, 9.45 M Letters 10.30 &

Sunday,

Tuesday, 11th,

9th, 9:00 AM

5.00 r1

YOU WON'T WRITE

So better send your old mess-mate

a Weekly Press while he is away. Let us have his Address, and send a $7.50 and we will send it to him

AL

FOR SIX MONTHS

ป