1930-04-23 — Page 11

Money

and Markets

COTTON MARKET.

REPORTS FROM VARIOUS CENTRES.

THE HONG KONG DAILY PRESS

Cable advices state that planting in Egypt is in full swing under ideal conditions, and in view of the abrogation of the law limiting nereage, some people are now look ing for a 13 per cent. increase in Bereage.

WEDNESDAY,

APRIL 23, 1930.

HONG KONG TRADE. DAILY SHARE QUOTATIONS.

EXCHANGE.

TEXTILE MARKET STILL DULL

HONG KONG STOCK

SHAREBROKERS

ASSOCIATION.

Curers

Butler

BATOH

[Nominal)

TUESDAY. APRIL 22.

Buyers Ballers Biola)

The fortnightly circular of the Hong Kong General Chamber of Commerce contain the following" references to textile trade-

Cotton Fisce Goods and Fancy Cotton Goods.

The following reports have been

The Market continues dull.

The Egyptian Government hold We have received from Messrs.ings were materially increased yes- Pentreath & Co. the following re-terdag, final March tenders totall-received: port issued by Messrs. Hornby, Hemelyrk & Co.; Liverpool, under

date March 25:-

American Cotton.

The advance has made further progress during the period under review, and, on balance, values are about 15 points higher.

ing 123,30 cantars,

Alexandria reports a quiet spot market, with a slight improvement in the demand for medium Uppers, There is some talk in Alexandria of the Egyptian Government aup- porting the July position, and it is noticeable that whereas, at the beginning of the current month, May was selling at a premium of The market has shown. more ae70 points over July, the difference tivity, and much of the advance is now only 23 points.. is due to short covering, particular- ly of May, owing to the uncertainty of what the Farm Board may de in connection with its Muyeon- tracts. Transfers of hedges, from nears to distants have also been noticeable.

It is unfortunate that this ad- vance has arrived so early, as it may tend to lessen the willingness "of planters to reduce acreage. As a matter of fact, the American Government is pushing farmers to plant less cotton, less abeat and lega One wonders what they can plant to please the authorities. The price of linseed is relatively much higher than cotton, but they cannot all grow linseed..

envn.

According to reports from Bolton, the turnover has been rather more encouraging.

May: Amerienan, this week 5.15d.. last week 7.91d..

October American, this werk 5.18d., last week 9.05d.

ay: Empire, this week Scad. (nom), last week 751d. (nem,).

May: New York, this week 13.51c., last week 15.ÍTE.

May: England, Sakel this werk 13.20d., last week 13.00d., and lip pers this week 10.04d. (nom.), last week 0.03d.

May: Alexander, Sakel this week T.29.21, T.25.05.

June: Alexander, this week T.19.80., T:10.54.

GREEN ISLAND CEMENT

· COMPANY.

QUESTION OF COMPENSATION TO SHEWAN, TOMES & CO.

In the Staples section enquiries have been made for small lots of established Chops of White Shirt- ings, but limits indicated by Dealers will require to undergo revision ere business is practicable.

Conditions in respect of Catton Fancies' show little change since last reporting and Dealers do not seem disposed to give any early consideration to forward commit

for November December ments shipment.

Their attitude in this respect is no.doubt contingent upon the fall. ing off in clearances from stock. during the past month, in addition to sagging prices locally,

Raw Cotton values show a decid edly ensier tendency, Intest figures to hand being these of 18th, in- stant, quoting Mid. Am. "Spot" 5.13d. Eg. Sakel. 14.00d"

Another report states:

The market has been very quiet since last reporting and except for a sale of Warp Satins, very little new business has been done. Local market prices for almost all the well known cloths have fallen quite sharply during the past fort- right, and deliveries do not show much improvement..

Cotton prices are slightly lower but concessions are hard to obtain as Manchester appears to have

levels. reached its lowest limit of prive

Another report states:

The advance in the price of the raw material has led to 'a gratify- ing expansion of business in Man- chester. There has been more en- quiry from India, where the Gandhi Agitation seems to be subsiding somewhat, anil business with China shows improvement. Turning to the yarn section, sales have been larger than for some time past, The question of compensation to and we hear of some mills having Messrs. Shewan. Tomes. Co sold more than their current pre-Lid, for loss of office as General Managers of Green Island Cement duction.

The Bank Rate was reduced frons Co., Ltd., is to be considered at an

Owing to Manchester prices be- 4 per cent, to 34 per cent, on Thurs extraordinary general meeting of day, which should stimulate busi the Company to be held at noon

ing somewhat firmer, replacing to-day, when the following resolu

costs at present exchange rate are tiou will be submitted :-

"That the Directors of the Commuch higher than local values. pany he and they are hereby aut thurised to pay to Messrs. Shewan. Tomes & Co., the sum of 8125.000

s still further, as, among other things, it will enable inerchants and manufacturers to carry raw cetton; and cotton goods at les cost.

Textile reports from the States are also more favourable, the ad- van rendering hayers more in-payable over a period of five years by five instalments of $25,000 per elined to place orders.

An ench such instalment to be Weather conditions continue gen-paid by four rqand quarterly pay erally favourable for new crop pre-ments of 26,950 in each year as com

Excellent progress pensation for loss of office c parations. reported in the Eastern Belt and General Managers of the business of normal progress in the Western

the Company." belt. One authority estimates an increase of 11 per cent. above inst year in the fertilizer sales in the Eastern Belt, but, at the present Stage, this does not signify the prospect of an increased aereage.

SHILLINGS WORTH TWOPENCE.

EXCHEQUER PROFITS FROM SILVER SLUMP."

One of the few people who stand to gain from the collapse of the silver market is the British Chan- cellor of the Exchequer.

Final ginnings for the season are given by the Census Bureau as 14,545,000 inning bales, compared", with 14,206,519, year ago and 12,753,112 two years ago. The aver age weight per bale is 509.5 s., fgainst 500.3. 1. a star ago. The figure of 14,343,000 bales was inter-

This is because the Treasury preted ballishly, as the Agriculturmint, which is responsible for the al Bureau, in its December esti- silver coinage, works according to mate, had given a erup of 14,019,000 bales of 300 lbs...

The trend in the near future is very uncertain. At present there is a struggle in New York between certain spot firms, who do not wish to lose control of the stock, and the Farm Board which, is holding futures contracts and niso neturi cotton. Whether the Farm Board, now that the May position has ad- vanced so much compared with other deliveries, will demand the delivery of the cotton when May comes along or transfer its contracts to a later position, is in the lap of the gods.

We still maintain the opinion that the price is reasonable, but in view of the Farm Board's a tivities, it is difficult to have a de finite opinion. One thing must be borne in mind, supplies of Amer enn entton are not overwhelming, and they consist of cotton which is, to a great extent-we won't say un- spinnable, but undesirable. Three million bales of the presnt crop are untenderable. which means that th cotton is either of very low class or short in staple.

Empire Cotton,

Writing on the 7th instant, our Bombay correspondents point out that the new Indian cotton goods duties will naturally result in a larger home consumption of East Indian cotton than has been the case for many years,

The receipts in Bombay are dimi- nishing, and the up-country move- ment indicates that a large part of the crop has already been market- ed. If, therefore, domestic cen- sumption and exports remain aomal during the next two or three months, the statistical position should show a marked improvement later in the season.

Egyptian Cotton.

The Liverpool market continued to advance during, the week on short covering and in sympathy with the steadier American market and with a good spot market here. Prices advanced at one time to about 1d. above the recent low level. Yesterday, however, there was a sharp reaction of about 40 points.

a fixed coinage arrangement.

$1,985

£18

Banks

81.390

E.K. Banks

£116

Do. (London) ...

Chartered Banks

£30

Morcantile Bks. “A'

£19

Do.

"C

$100

Bank of East Asia...

$107

៖៖៖៖

$1,400

£18

£18

1820

1.100

$825

Canton Ins.

$815

Underwriter

$1.65

---

North Chins

1160

429/30

Union Ins

$450

M.850

Yangtare ins..........

$60

China Fires

aren

$355

$900

1963 $900

$201

***

H.K. Fires..

$221 Douglases

$6.70 Benguets..

Kailant

T13.60 Langkats (comb).

T.7

Do. (angle)

T130 Exploration........ T8.40 Shanghai Loans

Raubs

FOREIGN MAILS

RADIO NOTICES.

The Radio Office, where full information concerning all wire- less services may be obtained at all times, is situated on the ground floor of the P. & O. Building in Des Voux Road, next to the General Post Office.

Individuals and firms are recommended to register their tale graphic address at the Radio Office. No charge is made for this.

INWARD MAILS...

FROM

Dus

SHANQUAI EUROPE via Starri

Shipping

921

$20

4

Steamboats

$25)

london, lat Apřů) CALCUTTA & Sträitä » JAPAK... EUROFA vis Epaz (Letters and papers,

London, 27th starch, and parco P 30th March)

+4

+

Mirzapore enqs Pate

93ri

2xrd

Buenos Aires Maru |

#ph

fanzus

24th Apr,

་་

543

Indos (prof.)

$50

JAPAY

Heiyo Maru

25th Apr.

$40

Do. (def.)

$80

0.9.A. (Seattle, 5th April), CANADA,

98/9 Shell Transporte... 95

JAPAN & SHANGVAI

Pr. Madison

25th Apr,

Water-boots

3201

JAPAN & SHANGHAI JA

MANILA

TH

Mining

STRAITS

MANILA

JAPAX...

T.14

T.3

TI

JATAN Francisco, 11th Apri).E

Rajputana

Fushimi Mar

Prin Cleveland

UBA (San Francisco, 4th April Pre Polk

HONOLULU, JAPAN & SHANGRAT

AM

5th Apr.

Empress of dia..

27th Apr,

27th Apr.

.99th Apr.

Nellore

Soth, Apr.

3rd May

Melbourne Maru..

5th May

T.J

$23)

Tronok Mines

19/3

Docks, WharraI,

HONOLULU, JAPAN & SHANGHAI U.S.A. (San Francisco, 10th April, HONOLULU, JAPAN and SxaxGHAI » CARADA (Vancouver, RO. 17th Apri 1.1| 1.8A, HONOLULU, JAPAN & SHANGE]

Pra Pierce

5th May

Godowns, sta.

H.K. & K. Whorts.....

$152

8101

538

T.81

85.30 85.20

Providents

$3.15

H.K. Docks

$37

7.128 Shanghai Docks,

T128

New Engineerings

T.8.05

Gofton Mills

Ewos

T13.10 or rights

T.10

T.80 S'hui. Ctans (old)...)

Do. (new)... T.78

Zoong Singa ndoa...

***

T.832

T.AI

Taiyo Maru

Emp. of Canada...

OUTWARD MAILS.

REGISTERED and PARCEL MAILS are closed 15 minutes earlier 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 $ p.m. cn the previous day.

6th May

Sth May

79.70

14

There has been a little enquiry for White Shirtings and Cotton Mattings etc. but the "market gen. T13.10 erally is very quiet, most buyers having left Hong Kong in connec tion with the Ching Ming Festival.

Clearances have been limited, dealers complaining that payments received for goods shipped early in from up country have not yet been the year. The offtake is not likely

to broaden until these collections have been made.

Woollens.

18:

7.243 HongkewS

Lands, Hotels and

Buildings

SIRY $72

$12.60

HK. & S. Hotels

T.245

$8:60 3143

88.70

$12.60

#217

20.70/21

8211

31.6

Peak Trains (old).

311

$6,05

$72

$23

$181

$79

not

A small trade has been done in miscellaneous woollens and there is more enquiry on Wool Knitting Yarns. Bradford prices are TC. ported to have reached the lowest point, and higher rates are unlikely.

Another report states: There are still fair inquiries for Woollens, buyers seem to get better accustomed to continental prices have and fair business seems" to been done.

Cotton Yarn,

T.19

No business to report. Nominal quotations are as fol....

$15.80 low:-No. 108. 8171/192, No. 12

No. 16s. 8165/205, No. 180/195. $20s. 200/213.

Two years ago, Mr. Churchill. then Chancellor, recalled the old silver coinage, which contained 37- fortieths of pure metal, and made a British shillings are coined from arrangements for its gradual re- 14 ounces of pure silver and each placement by the coins now in cir- coin contains one half alloy, our than worth legs shillings culation.

twopence and our half-crowns less than fivepence with silver at its present price.

arc

1

These new coins contain only 50 per cent, of pure metal, so that the Chancellor makes a handsome

In 1919, when silver rose to over profit. The cheaper the metal be somes the more profit he makes. As 65. an ounce, the Treasury for a

(Continued on next Column)..time was working at a loss.

AMERICAN STOCK QUOTATIONS.

LATEST WALL STREET PRICES.

The following quotations have been received from their cor- respondents, Measre. Hayden, Stone & Co., of New York, by Messrs. Swan, Culbertson & Fritz, Sassoon House, Shanghai, (enble address: Swanstock," Shanghai), who are not responsible for cable mutilations:-

Tone of Market.-Easy.

No. of Shares done.-4,500,060, Call Money.-4 per cent.

American Smelting Anaconda Copper Baltimore and Ohio Borg Warner....... Chrysler Motors City Service Common

$134

! ! ! ! ! ! ! ⠀⠀⠀⠀⠀

#fun!!

FOR

PER

DATE & TIME

T.10

10

$15,90

Cements (comb.)... $16.60

811

Do

(old)...

$114

Do. (new)... 2

$7.60 80.80

Ropes

China Sugars.

827

Malabon Bugars

$29

85

United Asbestos ...

144

Swatow, Foochow & Wei-Ex-Wei... Mauila

Kucichow.. Pres. Madison

MiscellaneoTLE

Kaying

$23

Dairy Farms......... $223

$0.80 830 $31

Der A Wings........

+

Amusements

$30

231

8304

Awatow, & moy & Formoss

Oheliang... Janton Mary

$1.20

Lane Crawfords

$3

$18

Mackintoshs

Bhanghai

Nanyang Tobacco...

*

*3watow and Amoy ...

Fushimi Mars Anhui

$12

Sincerca (old).

811

144

Pres. Cleveland,

Do (now)

$10.40

$10.80 Watsons

$10.00

$2.85 62

Wm. Powells

$23

B. Ind. G.8 Bonds... 83%.

Frea. Cleveland

H.K. Gort. Loan ... 8107.

$23

H.K. Lands ...... 6791 Shanghai Lande ...

H.K. Realtys... 303 Humphreys............ $141 Chinese Estates

Publlo Utilities

Tramways...

Do (now)... B

Star Ferries

....... $723

C. Lights (old)...... $23

Do (new).... $18,40 H.K. Electrics

Macno do.

B5.05 Sandakan Lights .... $134

Telephones.....

China Buses

Tractions

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

Industrials

Caldbeck, Kord.)

Macgregor pref.) Canton Ites

5.00 pm.

Fort Bayard

Saigon and Mauritius

Straits

Amoy...

Samsini & Wachow Haibow

Straits

Pakboi

Swatow, Amoy & Formosa... Swatowi

***

*Bwalow and Bangkok

Straits. Ceylon, India, Mauritius, E. &.1

South Africa & South American Porta

Amsy

+

Shanghai, Japan & EUROPE vis-Siberia Shangbai

91-

*Straits and Oxleutia...

(7,801, &

7.00 pa Bunday's 7.00-pro. only

1.30 TEL

Бадемов 830 MI Lonly

6.00 pm.

6.00 p

Bwatow, Amoy & Foochow

+

-

...

Sunkong Tinhou Beastan Taiyuan... Tai Ming... Nam Peng

Üremer

Wednesday, 23rd,

$00 A úr

1.30 PM

1,30 r *

3.30 PM

4,00 F M

5.00 PM

Thursday, 24th,

Deli Maru

Hydrangea

Michael Jobson

Buenos Aires Maru Sui Sang...

Friday,

8.30 M 10.30 A

Mantua Fanchers...,

Nam đang Haining

---

Straits, Crylon, India, Mauritius, E. & S.,

Africa, Aden, Egypt & EUROPE vis Rajputana Marseille-dee Marseillen, 23gd May)

Bangkok via watow....

Boihow, Pakhoi & Haiphong

Japan, Canada, U.S.A., C. & S. America"

& EUROPE via Victoria, BC,-

dte Via ons B.O., 16th May...

Shanghai and EUROPE via Siberia

Foihow....

Bandakaz

Swatow, Amoy & Foochow

Straite, Ceylon, India, Mauritius, E. & S. Afrion, Egypt & EUROPE via Mar-

eillen-due Marseilles, 30th May

Shaoghal, Japan, Canada, U.S.A, C. &B. America & EUROPE ria Van- couver, B.O.-due Vancouver, B.C., 17th May, & Europe via Siberia

Kwangtung Hang Hasching"...

Calchas..

10.30 A M 10.30 AM 2.30 r M

5.00 P

6,00 M -8.00 38

25th,

"

Parcela Noon

18eg 1,00

"

2.00 Kowl.com P.O. Parcels 4.30 PM Beg., 26th,9.00 20 ...Letters 10.00 * *

G.P.O.

Par., 25th, 5.00 Bøg„16th,9.45′ ▲ M Letters 10.30

Saturday, 28th,

9.30 W 4.30 P.14

Sua May, 27th,

9:00 AM 9.00 am

·9.00

Monday, 28th,

10:30 AM

2.00 PM Parcels 3:00 PM

4.15 2 Letters 6.00 P M

Reg.

Beg.

550 pw Letters 6.00 x

Tuesday, 29th,

9.30 10.30 AM

1.00

Kowloon P..

1 Beg. .1.00 P

--- Letters 1,00 ex

Reg

Letters Parcela

Emprias of Ass Wednesday, 30th,

Shanghai, Japan, Honolulu, U54. Canada, Central & South America,

EUROPE via San Francisco-~>| Asama Maru ... dus San Francisco, 22nd May and

EUROPE in Siberia

·∙Japan. ***

Maui, Handakan. Australia (except places South of Townsville) & New Gealaud vis Tharaday and ne Thursday Island, 17th May.

Q.P.O.

1,45 2.30 PM 5.0% #

Rog 9,15 & M |Letters 10.00 AM

|Wednesday, 30th,

Reg.

5.00 P. M Thursday, lat, Entiers ́8.80 Á 26 ·

----MAY----- Friday, tod,

19.30 AM.

Heiyo Maru

Nellore...

Par Beg. Letters 2.80 P

Noon 1.45 zw

...Pr. Pölk

31.30 Constructions.......

$3

LOCAL AND REGULAR OUTWARD MAILS.

WEEK DAYS.

FOR

From FROM

:. SamuxɑWAN; G.P.O:

BRANCH PO.

FROM G.P.0.

SUNDAYS & HOLIDAYS

F201 BHEUNGWAN BRANCH P.O.

NEW YORK, April 21.

Last Dividend.

Latest

Canter...

(7.35 am. & 1.5.00 p.m.

7.30 2.23.

! 7.00 p.m.

Sales..

#1

1 Sunday

5p.m. only

66

(7.15 m. &

7.30 am &

116

47

Macao & Trinshan

40 -

( 7.15 am, & Į 7.30 B.DL

{1,.30 p.m/« 1.15 pm

1.15 pa

Missing

13

230

114

Kongmoon (except Saturdays) 5.00 p.m. Kautong (orcept Baturdays).........

8,00 p.. 6,00 p

Sunday 8.15. only 5.00 p.

3

·30c., A

Curtis Wright Common Eastman Kodak

None

8B

Electric Bond and Share

60

Eric Railroad

None.

General Motors

General Ry, Signal

Goodyear Tire and Rubber

Granby Consolidated

Gold Dust

Hudson Motors...... International Cement

International Nickel .......... Montgomery Ward

Nevada Consolidated Copper. Radio Corp

None

Sears Roebuck & Co., Simmons Co.

2D

3

Standard Oil Co. of New York Union Carbide and Carbon..... US. Rubber

1.80

2.00 None.

7

United States Steel

50

45

85

40

8 = 8 8 8 9 8 9 8 88-888-8888-

Tai 0

Fatahan (By Train)

Tai Po ...

Shunchun

Cheongchow

Aberdeen

Auta Pingahan, Santia,"

-7.5 2.0->

9.00... (9,00a.m. &

8.00p.m. 9,00.

8.00 p.

[12.30 p.m.

4.80p.m.

9,00 a.m.

9.00 am.

11:0

11,00 Butte 1.& 4.20 pim.

Saturdays

1.20 p.m. &

4.20 p.m.

6.30 ..

8,20 5.31,

Minia.**

Stanley

1.00 p.m.

Saturday, 3rd,

5,00 M

Monday, 8th, Reg. Manfia, Australd and New Zealand rist

415 PX Bran Brikbann, 19th May ...} Melbourne Maru Letters. 5,00 à m

Tuesday, 6th,

4.30 M Thursday, 8th,

Prie. Pierce

Shatin, Shatankok and

3.00 pm

10.30.2

Minfla

Emp. of Canada.

Shoungehui

Balkang...

4.30 pa

4.30 pt.

Nantan, Ebekki & Talping

7.00 pt

7,00 pm

"Buperscribed correspondence only.

(Famt)

1.00 p

8.30