1930-04-30 — Page 11

Money and

METAL MARKET.

HORNBY & HEMELRYK'S REPORT.

We have received from Messrs, Pentreath & Co., the following re- port issued by Messrs. Hornby, Hemelryk & C., Liverpool; under date March 7

Copper.

Cluse yesterday:-Cash £70.17.6, last week £68: three months £68.7.8, Jast week £66.17.6; New York, May 16.40c., last week 17.300.

It looks as if there will be an- other squeeze and a heavy back wardation in the Standard market during the first ten days of May.

American interests have again begun to assert themselves violently, and are not only buying up near dates heavily, but the market is in debt to them to the extent of several thousand tons of Copper for early May delivery.

There seems very little chance of the Copper Exporters' Inc. reduc ing their price for months to come.

Our New York correspondents cable that the consensus of opinion is that n reduction in price is even- tually inevitable, ·

Tin.

Markets

CANTON - TRADE NOTES.

The market for both dour and sugar remains dull, and prices are still low.

*

During the past 20 days, some 67,547 ounces of silver bullion and over 77,000 silver dollar pieces were imported into the city.

*

The export of raw silk has been very disappointing. During the past ten days, only 423 piculs of raw silk and 1,434 piculs of waste silk were exported.

·

The price of kerosene has risen! sharply in Shiukwan. The current price is 84.52 per can, being 1 higher than usual. The quotations in Canton are normal.

Tailoring shops for European clothes are faring badly. Many of the tailors have been jobless as a result. There are at present over 300 tailors employed in the shops, as compared with 700 in 1925.

3

*

*

+

The cotton yarn market has again become inactive, both wholesale nad retail being very limited. The

THE HONG KONG DAILY PRESS WEDNESDAY, APRIL 30,

THE ASIA LIFE INS. CO.

"ANOTHER SUCCESSFUL

YEAR.

DAILY SHARE QUOTATIONS.

די

HONG KONG STOCK EXCHANGE.

The general shareholders' meet-ups, sellers ing of the Asia Life Insurance Com. pany was held on April 10, at the offices of the Company, No. 17, the Bund, Shanghai, when Mr C. 'V. Starr presided over a large gather- ing of shareholders.

The year's working for 1929 was reviewed by the Chairman, during the course of which he said that he felt sure the report and accounts, as presented, would be considered as very satisfactory by the share. holders. Assets have increased from $1,747,265.84 at the end of 1829 to 82,432,198.94 at the end Reserves have gained of 1929. $403,339.31 and the Company's not surplus has increased by $54,709.02. Payments to policy-holders and

during the

year beneficiaries. amounted to $207,826.24, bringing the total of these payments. since the formation of the Company to 8770,320.22.

EMPIRE TUNG OIL.

FAVOURABLE RESULTS OF

EXPERIMENTS.

For some years there has been a growing interest in the question of the development of tung oil pro duction within the British Empire, Tung oil is an essential raw mate. rial of varnish manufacture and is, indeed, indispensable for types of varnish. The chief source of supply is China. In 1880 cultiva-

certain

Close yesterday:-Cash £188.13, last week £161.15; three months £170.5, last week £183.17.6; Now York, May 31.33c., last week 35,80c. quotations remain low in consetion of the tung oil tree was intro- The market was a little reaction-quence. According to Shanghai duced into England, but little in- ary yesterday after the recent sharp telegram, the market there is un-

changed.

rish.

We think it would be a great mistake if the price should be raised much higher at present as there are -a number of mines in different parts of the world, notably in Bolivia, which are contemplating closing down owing to the price, and which will certainly not do so on a rising market.

The position is coming com- plicated again by the reactions of the old Group which has suddenly come to life and seems to be func Lioning on exactly similar lines t those which failed so lamentably during the last eighteen months. It is buying cash retal and taking up large quantities of Tin, and it

15

also broadcasting gratuitons warnings that it is very pawise to he short of Tin because it intends to take up enormous quantities and operate on a very large scale.

be

terest was shown until the Great War, when it was found that its water-resisting properties made it The mulberry leaf crops in Shunnecessary for aeroplanes. tak district are exceptionally good and it is estimated that over 600 nieuls of leaves are gathered per me. According to silk merchants, the forthcoming silk crops are of a promising nature.

*

Dried fungus. of which Chinese are very fond, is imported from Yunnan, Kwangsi and Szechwan. Recently, arrivals have been very short and prices have gone up. The current price for Szechwan dried fungus is 8230 per nicul, Kwangsi $210, and Yunnan $100.

*

Arrivals of honey from the North and West River districts are limits ed. and prices have risen. Honey is also imported from Shanghai, but its quality is not as good as that produced in Ewangtung. Kwang tung honey is sold at $37 per picul while that from Shanghai is quoted at $30..

8

1930.

SHAREBROKERS

ASSOCIATION.

Baics Nomical

TUESDAY. APRIL 29.

Buyers Ballara Salos Morinat

$440

IT

FOREIGN MAILS

RADIO NOTTOES.

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

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

INWARD MAILS.

EUROFn via Negavatam (Letters only,

Banks

$1,415

H.K. Banky

1,410

Do. (London)...

FROM

Pra

DUR

£17)

Chartered Banks

£30

Mercantile Bles. "A"'

£121

Do-

£18 £29 £15

8169

Bank of East Axis..] 9107

Staroma) & Swarow BARATIA

Suiyang Tiskarang

3 'th Apr.

...

Suth Apr.

TH

Insurances

JAPAN.

Nellore

S0th Apr.

SHANGHAI & AMOT

Ninghai

1st May.

$833

T.160

Canton Ins.

$ERO

Underwriters

$1.50 $1.60

BRANGAL & EUROPE A SISEEťá |

London, 3rd April & Paro ja 27th Mar)}} Antenor ...

lat. May

North China...

T160

(London, 11th April)...

Dorflinger

Tad My

$443

3365

$45

Union In

$450

JAPAR, SHANGHAI EUROPE IS SIBERIA

M.360 Yangtze In..........

360

***

(London, 18th Aprü). ....

Kashima Maru

and May

**** $355

BUSOF VIA NEDAPATAN (Papers only,

$900

HK. Fires.....

5900

London, 3rd April)

Hong Bwa

Yrd My

Shipping

Pres. Polk

3rd May

Melbourne Mary

5th Ma

$233 Douglases

321

$26

Steamboats............

$26

HONOLULU, JAPAN & SHANGHAI

3th Mar

343

Indos (pret)

$50

JAPAN

APAN & SHANGHAI ...

Angers

6th May

$340

Do. (def.)

$90

U.S.A. (É Francisco, Ifth April).1

99/4

Shell Transports... 95/

$27

*

Water-bonta....

$261

Mining

I

HONOLULU, JAPAN and Shanghai Tatyart CANADA (Vancouver, BC. 17th Apri·},{

1.8.A., HONOLULU, JAPAN & SHANGHAT] "Emp. of Canada...

Tai Ping AUSTRALIA & Manua

8th May

8th May

13th May

+H

China Fires

$8.70 Benquets... 36/3.

Kailans T13.60 Langkats (comb.).... 1.71 Do. (single)... T1.30 Exploration................ T5.40 Shanghai Loans ... HANDS........ Tronoh Mines .....

$23

21/-

"Docks, Wharys,

Godowns, etc.

kat

19/3

ELK. & K Wharfa... $132 Providenta

!!!!!

$154

$5.10

$3.15

83.10

$38

H.K. Docks

$37

T.8

T.125 Shanghai Docks

Now Engineerings

...T.127)

T.8.08

T245 Hongkewa ..............

Cotton Kids

T13 ex righta T13.15)

T,60 Shai. Ctons (old).... T.78 Do.

(DAW)... T.10 Zoong Sings

T.76

T.76

T9.70

The need for a close study of the prospects of tung oil plantations within the Empire became appar T.13 T13.40 ent early in 1927, in view of the The political situation in China. Research Association of British Paint, Colour, and Varnish Manu- facturers then purchased 700lb. weight" of selected seeds of the 1927 American crop, and distributed these over a wide area, with the help and advice of Sir William Furse and Dr. Hill, the Director of the Royal Botanien! Gardens, Kew:

The age when the tree begins to fruit depends on the soil, rainfal and treatment. In some localities in China the trees frait at three years, but usually the fourth and fifth year brings the Brst commer einl crop, after which the yield steadily increases up to the ninth or tenth year. Since 1927 there have been annual distribution of seeds, and it is expected that the of the experimental first fraits plantations on a coinmercial basis will be reaped two years hence.

The newspaper cartoonists have

11.9

3127 872

$12.65

T.245 $8.60

$143

198

***..

통으로 321 821

$74

HOME

Lands, Hotels and Buildings

H.K. & S. Hotels... 812.80 F.K. Landa ....... $724 Shanghai Lands ...

H.K. Realtys.............. Humphreye

Chinese Estates

Public Utilities

İ

·Tramways................................|| 820.85 311.65 Peak Trams (old)... 811 86.05 Do. (Low)... $51

Star Ferries

3744

Lights" (old). $23.40

Do. (new)...... $187 H.K. Electrica $72

Industrials

U.S.A. (San Francisco 4th April

HONOLULU, JAPAN & SHARQEAL

JAPAN

USA. (San Francisco, 11th April). Pres. Pires"

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 2.am registered and parcel mails are closed at 5p.m.. on the previous day.

Fox

Fort Payard..

Shanghai, Japan, Canada, U.8.A., C.

& S. America & *EUKUPE via Van-{| couver, B.O.-dne Vancouver, B.D., 17th May, & Europe via Siberia ... Swato

Straits and Calcutta

Haiphong

Sandakan

Manila

Ampy

19.857. TO

383

y

8142

82111.135

1st

PER

DATE & TIME

Wednesday, 30th,

Wing Wo.m Empress of Asia

Blog.......

9.00 AM

9.15 AM

Letters 10.00 AM

Fan Bondar

10.00 AM.

Parce's

Noon

Shirata

Trattor

1.00 2

Canton

1.80

N

Hinsang

.1.3-4

Deihi

230 F

2.30

M

3.30 X 5.COM

3.00 M

5.00 P

Log.

5:00 PM

turs 8.30 AM

Formosa...

Amoy

244

Headw, Pakhoi and Haiphong

Formose...

Shanghai, Japan, Honolulu,

Canada, Central & South America, and *EUROPE vs San Francisco- due San Francisco, 22nd M yand "EUROPE via Siberia

Saigon

Amy

Bangkok

Swatow...

Saigon ...

'Hoíhow, Fakhoi & Haiphong

*dothor & Bangkok

Japan. *Honoiala & South American Port

Manila, Sandakao,

australia (except

Places South of Townsville) & *Now

Zealand va Thursday island-due

Oostkark

+

Tainan

Tilawa

Limcharo...

Peking Haru

"

Amma Maru...Thursday, 1st,

Haldis Tjikarang

Bintang.... Hydrangea

1 : 1 ::

I

-MAY- Thursday, Jat,

9.30 & A -10.30 ▲ M Noan

3.00 PX

4.80 z

8.30 & Ar

8314* 10.30 AM

Wushing...

Friday, 2ed,

Menado Maru Chinhua Hega Maru

Nellore...

Part Breg. Leiters

Noon

1.35 ? "

2.80 P

***

1.00 F M

Reg. Letters *

5,60 T

6.00 P K

8.0.

Reg.

43,7

$75

$23

$181 $721 823 $5.05

$23.75 184/2/19 873

$73

373

***

Macao do.

Sandakan Lights....

$12)

813

12.80/90

Telephones.

$13

T.19

+

China Buses

10/- 18/3

Tractions y

Do. (pref.)...

**

Thursday Island, 17th May..

***

Swatow, Amoy and Foochow

Shanghai, Dairen & "EUROPE via Siberia) Antenor

T.10

Caldbeck, 1(ord.)

T.10

S'raits, Ceylon, India, Mauriline, E. &

$2}

Canton Lees ***

$16.15.

$164

15.70/16

311

I

(old)

Bu

58.15 $0.80

$5

$27

"United Asbestos

We have heard and suffered from all this before. Our own view of Tin is that, if the price enn kept down between £100 and £170 per ton for another six weeks, there will be a great decrease in produc- tion, apart from the artificial de

There has been a very healthy ereuse engineered by the Tin Pro- demand for licorice, and the ducers Association. and that a slow price has consequently soared up. but steady, and possibly prolonged. Licorice is imported from the north-seized on Mr. Gandhi's salt-collect- rise in the price of, Tin may be seen

ern provinces and consumed in very ing Activities

A subject for during the latter half of this year. large quantities by dealers

humorous representations. Thus By June it ought to be possible medicine and edibles. The current the Evening Standard publishes a to form a more or less necurate price (súperior quality) varies from picture entitled Exchange of Com conception of what the production | 8240 to $250 per picul.

pliments on the Dandi Seashore, for this year is likely to be, bat!

which shows Mr. Gandhi, in a loin will, still consumption

cloth, sitting near the Viceroy on ather an enigma. We are looking

The market is on the easy side, the beach; with a crowd of Indian for a reduction in consumption this but priers are low, and. for most followers in the background. Mr. year of about 8.000 tons, practically aroducers, quite uneconomic. An Gandhi, bolding a small spoon in al of which, will, we think, be scen

how this is a free market and stands the direction of the Viceroy, asks: in the first six months of the year; on its own feet. If there should be "May I offer you some salt?" Lord Lite which we look for active mar another serious relapse. in price. Irwin (aside), holding a kets and a strong demand. may cause is to alter these views, Spelter would certainly be worth cruet, soliloquises: "Now should I $23.20.....

pass him the pepper?" The Star, but it is interesting to know that buying for a quick turt.

under the heading Goosie Goosie a number of estimates concerning

Gandhi, showg a goose carrying a consumption which we have sought

label inscribed, "Please put salt from prominent people in the trade

on my tail," a reference to Mr. range from no decrease up to 30,000

Gandhi's desire to get arrested. tons decrease as compared with 1029.

remain

Time

We think that if the price of Tin is to exceed £800 per ton this. year, production will need to be at least 10,000 tons less than actual consumption. There is a reasonable chance of both these events coming to pass.

Our New York correspondents cable that the market is firm, and that distants look an attractive purchase at the present level.

Lead.

Clise yesterday: Prompt £18.16.0, last week 18.11.3; Forward £18. 18.0, last week £18.15.

"This is a most difficult market to judge. The Lead Producers' ABEO ciation, having bought all the Lead that was offered on the market for quite a long period at £21.12.6 per ton, last week sold any quantity of Lead that anybody wanted to buy, the total being at least 5,000 tons. at £18.15 per tor, and now are put- ting the price up again, encouraged thereto by the rise yesterday in New York.

*. Spelter. ***

Close yesterday: Prompt £18.12.6, last week 18.5; Forward £19.2.0, last week £18.12.0.

A sharp rise took place under "short covering and reports that fur- ther efforts to renew the cartel were meeting with more success. It is generally thought, however, that the ROY

the jealousy between the conflicting interests in Europe will make the task of the negotiators extremely difficult, and not much hope of, succes is held out,

(Continued on next Oolumný

Silver.

Close yesterday Prompt 19.7/16d., last week 10d.; Forward 19 d., last week 15.3/16d.

AMERICAN STOCK QUOTATIONS.

LATEST WALL STREET PRICES.

small

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

-Tone of Market Weak,

No. of Shares done -4,500,000.0. Call Money-4 per cent,

American Smelting Anaconda Copper Baltimore and Ohio

Borg Warner

ין

Macgregor (pref.)

Cements (comb.

Do

(new)... 841 Ropes) 58.10

China Sugars....................

Malabon Sugars

Miscellaneous

Dairy Farms.... Der A. Wings.... Amusements

$1.30 Constructions

Lane Crawfords. $3 Mackintoshs.........

Nanyang Tobacco...

Sinceres (ald)......

$231.40

$0.80

***

$33

TH

41

FAR

$3

J

ரிசம்

$18

441

$2.85 63. 8%

prem.

9. Africa, Adon, Bgypt & LUROPE{| Kashimä Muru 5 | Let, 3rd, 5.00 à M via Warisles-due Marecil.os, 2nd June

899

Amoy

laufla

Manila, Australia and New Zealand vis

Brabane due brisbane, 19th May ... "Melbourne Marul Le,ters

1.2.0. Beg, 3rd, 8.45 ★ M

Letters

aturday, 3rd,

8.50

K

Kingyuan

Prei, Polk

5.00 R

500 a.

Sunday, 4th,

Swatow, Amoy & Formom

$23.36

BtoBaugkok ..........

Hozan Maru Kuangchow

9.00. 9.COM

830

$30

$1.20

Monday, Bcg. 4.15PM

Stb.

$4

5.00 a

Tuesday, 6th,

་་་

$12

$11

Foochow & Wei Eni Wei v'a Swatow

... Huichow

9.83

A

17

$11

Do. (new) $10.49 Watsons

$10.00

sigon, "Strails, Caylon, Indis, Mauritita,"

Kowloon P.O: Reg. 1.00.

WI

# East Bad Louth

Africa, äden, {| Angora ... Egypt & EUROPE via Marseilles--|

ue Marseilles, 7th June

Vanilla

...Lettors

1.00 G.P.O,

Reg.

1.45 P

Pres. Pitico

Laitora

:

8,30 px

4.30 M

Swatow..

Yatshing...

- WEEK DAYS.

SUNDAYS & HOLIDAYS

Wednesday, 7th,

.30 AM

f'hareda, 8th.

FROM G.P.O.

FEOX' SHLUNG VANÍ BEANCH P.O.

Tiox €,P,0.

FROX SHKUNGWAN

P.O.

Manila i

Emp, of Canada...

3.30 / M

Friday, Parcels

9th, Noon

Kuliang Furmang....

..:Letters

5.00 x

(7.15 £8.00

& 7,50 6.0. 17.00 pm.

Powells.......| 824

B. Ind. G.8 Bonds... 63% H.K. Gort, Loan ... $107

LOCAL AND REGULAR OUTWARD MAILS.

FOR

Straite & Calcntis Amuy

*Superscribed - correspondents-only.

7.16 am. ƒ 7,30 AM. ́ {.1.15. p.m.- |-{ 1.30 p.m...........

Kongmoon (except Saturdays) 5.00 p.m.

77,15 am, &] [730 a.m; & 6.00 p.m. $7.00pm. Sundays Ründays _6 p.m. only||| 7,00 p.m.

Lonly

(7.15 am. & 7.80 km. &

1:15 pm.

1.30 nm

·8.15 mm. · 8.201 Lonly

| Sondays........ Sundays....../|

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Weekly Press

New York, April 28, 1930.

Last Dividend.

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Canton

72

62

114

29

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Chrysler Motors

3

36

City Service Common

30c. A

42

Curtia Wright Commonðar

None

13

Eastman Kodak ......

ав

248

Kaukong (ezoert Baturday

Electric Bond and Share

60

112

Erie Railroad

None.

33

Fatahan (By Train)

3

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General Ky. Signal

Tai, 0

B

93

46

Tai Po

Goodyear Tire and Rubber Granby Consolidated

Shumchun

38

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Gold Dust

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Corp fo

Sears Roebuck & Co. erine Simmons - Co.

Lonly

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6.00 p.

6.00 pm.

400 pa

Baldo patter

7.16 am.

7.15; 0.00 9.00 am

9.00

to be sent to you for-

€0.00 .m. &

18.00 p €9,00 {5,00p.m

&

12.30 p.. & 4,30 p.m. Baturday

11.08.

(100

1 & 4.20 p.m.

Three months

8.30 al.

Choungchow

1.00 p.m. &

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Aberdeen

8.30.

2D

87

Autan Pingsha, Santin,)

47

Shan, Shatankok, and

8,00 p.m.

10.30 am.

Standard Oil Co. of New York

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Union Carbide and Carbon...

2.60

90

Saikang...

4.30 p.

4.30 piza

Namtan, Shatri & Taiping

U.S.: Rubber

None.

28

7.00 pa

7.00 pa

(Famün).

188

United States Steel

Twelve months

$3.75

$15.00