1930-05-01 — Page 11

THE HONG KONG DAILY PRESS THURSDAY,

MAY

1, 1930.

11.

and Markets

Money and

We are now entering the dull DAILY SHARE QUOTATIONS.

season of distribution, and the visible supply of Brazilian coffee in the United States, in consequence of recent consignments, is the largest for many months past.

Trade sentiment remains bearish, but the trade and speculators ap-

THE SUGAR TRADE. SUGAR, COFFEE AND pear to be waiting for renewed sell-

POSSIBLE DEVELOPMENTS."

COCOA REPORTS.

We have received from Messri,

In reference to the article appear-Pentreath & Co., the foliowing re- ing in yesterday's issue, we have port issued by Messrs Hornby, received the following letter trom Hemelryk & Co., Liverpool, under: Mr. G. J. D. R. Cruden:→

date March 29:-

"Sugar, ...

ing incentives.

Our New York correspondents. enbled last night that they anti- cipate early efforts for the transfer of short sales in "acar deliveries to distants, which will probably lead. to increased premiums for positions

near

Close New York last night- Rio: May 8.56c.. last week $.450.; September 8.00c., last week 7,91c; Mild: May 16.33c., last week 16.300, Santos: May 12.86c., last week 12.63c.; September 11.94e., laat Yorkweek 11.59c.; and Mild: September

15.60c. last week 15.40c.

Cocoa.

and New markets during the week under re- view pending the announcement ex- pected on the 31st instant as to whether the Cuban Single Seller shall continue to function,

"In my capacity of a partner in the firm of Fraser, Eaton & Co., Sourabaya, may I be allowed to ask A decidedly steadier undertone you to correct the statement ap. I has been noticeable in the Liver- pearing in to-day's issue of your pool, London paper reading that the business of Messrs. Fraser, Exton & Co. is being wound up." For your infor- mation I enclose a ropy of the virgule letter sent by Mesars. Fraser, Eaton & Co. to all firma with which they do business. You are at liberty to publish this circalar fetter should you consider is to be of sufficient general interest,

With regard to big develop- ments to which your letter (sic) refers, I would add that it is not anticipated that the creation of the Macinine Sugar Co., Ltd., in Jasa will cause any change in the sugar business as hitherto conducted by Messrs. Fraser, Eston & Co.

My own visit to Hong Kong is merely part of a business tour of China and Japan, undertaken with a view to studying general condi. tions in the Far East in relation to Java's sugar trade."

Messrs. Fraser, Eaton's Circular.

The following is the text of the

circular to which Mr. Cruden refers in his letter:

Sourabaya, 16th April, 1930. "Dear Sirs. We beg to advise you that as from 1st May, 1930, our Sugar Business will be taken over by the Maclaine Sugar Co., Ltd, Batavia, Saurabaya, Samarang. This step necessitates no changes far as business between us is concerned,

na, al contracts and engagements outstanding on the aforementioned date will be taken over by the new Company.

"We shall be glad if after 1st May, 1930, you will address all your correspondence to the Macinine Sugar Co., Ltd., Sourabaya, instead of to Fraser, Eaton & Co.

"It is, of course, understood that all Credits and Letters of Authority for May shipment onwards will have to be made out in the name of the Maelnine Sugar Co., Ltd.

"Telegraphic addresses will re- main unaltered.

It should be clearly understood that it is only our Sugar Business which will be taken over by the new Company, and that all our other activities will be conducted as here- tofore.

A certain amount of covering and speculative buying hus taken place in the English markets in anticipa tion of better trade demand as roon as the Budget is known..

The Cuban production up to the and instant is estimated

a the corresponding date a year ago, 2,787,000 tona, against 3,600.000 tons and 134, centrals are reported to be grinding against 161 last year.

The Java Trust estiinates the next erop at 2519,000 tons, to which must be added another 250,000 for mills outside the syndicate, making a total production of 2,769,000 tons, against 3,020,000 tons a year ago

Java has apparently been suffer ing from a lack of rain, and the recent rains are said to have been insufficient to repair the shortage.

The futures markets show little alteration in prices on the week, but Jis- yesterday more interest was played.

The Acera market is firmer, Acera Cocoa for April-June shipment be- ing traded in at 368:/6d. "f.o.b.

The Africa Group shows no signs of activity except for re-selling few hundred tons of the cocoa it bought at slight lower prices.

Dealers seem a little more con- Adent, and we think that with very little encouragement, they would now po prepared to join a bull

movement.

Our New York correspondents esbled last night that the trade is believed to be expecting a healthy advance. The actual market is very steady.

HONG KONG STOCK EXCHANGE.

Buyers Bellore Bales las

$109

31,415

!!!!!

SHAREBROKERS ASSOCIATION.

Buyers Ballery

Salas Nominal

}WEDNESDAY, APRIL 30.

H.E. Firea

un

!!!!!!

FOREIGN MAILS

+

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Chartered Banks ...

£30)

**

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£12]

Do. 40"

£18 £29 215

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1st May

EUROPE FIA NEGAFATAM (Letters only,

Bank of East Asia... $107

London, 3rd April & Parola 7th Mar)]| dutenor JAPAR, SHANGHAI a. Enoer via SIBERIA

•

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(ondon, 18th April)...

Kashima Maru

2nd May

Ar

$960

3860

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****** 3860

$860

(London, 11th

SHANGHAI & EUROPE via

April)

Derfinger

3 M-T

311

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HONOLULU, JAPAN & SHANGMAS

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Srd May

3355

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Melbourne Maru...

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$900

$900

Shipping

$932 Douglasca

$21

$26

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$26

$43

Indios (pref)

350

$10

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890

99/4

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3.8.A. (San Francisco, 11th April),

HONOLULU, Japan & ShangHAI

JAPAN & SHANGRALCO, 14th April),

U.S.A. (8 Francisco,

HONOLULU, JAPAN and SHANGHAI CANADA (ANCOnter, RO. 17th Apri},{¦ U.B.A, HONOLULU, JAPAN & SHANGHAI Australia & MARIA

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FOB

PER

DATE TIME

5th Mar

6th May

6th May

I

Ewp. of Canada... Tai Ping'..

8th May

13th May

Close Liverpool last night: -May 30s,/ed last week 30s./d.; July 40.710hd., last week 41s/0d.

Close London last night:-May$3.90. 40s./7d., last week 41a./ild.

Close New York last night:-May 8.73, last week 8.55c.; and July 0.00, last week 9.836.

There is nothing definite in sight likely to influence values appre: cially in either direction. The market seems to be consolidating itself round about these prices, and although we feel that a rise at the moment may be a little premature, we believe that advantage should be taken of setbacks for making invest SOFA USED AS FIREWOOD,

ent purchas

Close Liverpool last night:-May 7.7114., last week is. /01d.; August s/41d., last week 65./1d.

Close London lust night:-May 69./10. last week 63.1840. Augnst 75./1d.. last week 78. jod.

STORY OF FAMILY'S POVERTY.

$61.

56/3

$156

$155/7 $5.15

$38

T.SI

Benguets......

Kailang

T13.80 Langkats (comb.). T.7 Do: (single)

T1.30 Explorations.

T5.40 Shanghai Loans ...

21/-

Raubs ******

Tronoh Mings

· Docks, wharvaI,

Godowns, etc.

19/3

H.K. & K. Wharfs.....] $136 Providents............ 85.20 HK. Docks ...... 837 T125 Shanghai Docks...T.127)

New Engineerings T.8.06 T.245 Hongkow ..................

Cotton Mil

+44

***

5፧፧፧

8157

2H

541-

T.14

H

N!!

Shanghai, Japan, Honoluit, 0.8.A.1

Canada, Central & South America, and EUROPE Țis San Francisco due San Francisco, 22nd M«y and *EUROPE via Siberia

Fukow, Fakhoi and Haiprog

Amry

Haigon

Swatow...

Saigon

***

Thursday, 1st

Asama Maru

6.30 A

8,30 8.30 A 30

Limeñow ... Haldia Tjikarang Hydrangea Fraishing.

ira

Monado Maru

10.30 Ax

3.00-

4,80 r =

Friday, 2nd,

8.30AM

T.13 T13.40

T.78

T.10

Ewos S'hai. O'tons (old).......

Do Zoong Singa

13 ex rights

(ACT)...

1.76 T.76

*Haihow & Bangkok Japan,

Hoihow, Pakhol & Haiphong

.*Honolulu & *South American Ports

OMishra ... Heiyo Marui

8.80 A

10.30 AM

***

Bangkok T9.70

Bintang

***

12.83/20

$73

Swatow, Amoy and Foochow

Maula, Sandakan, Australia (except Flaces South of Townsville) & New Zrsland via Thursday leland-doe Thursday Island, 17th May...

Nallers....

Par. Beg.

Посл

Nooz

1.45 = M

Lotters

4.30 PM

kar

Reg.

1,00 PM 5,407

Shanghai, Dairen & *EUROPE via Siberia Antenor

+

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$8

$142

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ELLA

Lands, Hotels and

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H.K. & S. Hotels

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H.K. Realtys

Humphreysti

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$144 $98

A Fleetwood family's poverty was $12.80 $13 Our New York correspondents described at Preston Sessions last cabled last night that the market menth, when Robert Porter (39), is influenced by rumours indicating fisherman, his son, Frederick Porter. increasing doubt of the prompt dis (18), and James Gorst (10), labour- solution of the Single Seller. Iner. all of Warren Street, Fleetwood, trrest in Baws has improved, but buyers are cautions.

Close New York last night:-Mar 1786. last werk 1.676; July 182c., last week 1.69c.: September 187c., last week 1.76c.; and December 1.81e, last week 1.84c.

Coffee.

The markes continues to show an We trust that the pleasant busi-irregular tendency within narrow limits. The turnover is small, and ness relations which have always

prices äre easily influenced by existed between ae will be extended orders received for Brazilian ac; to the new Company.

"Yours faithfully, "FRASER, EATON & Co." Big Developments."

emint.

Featureless, conditions continue to prevail. 84 March nötices were circulated on Wednesday, hus the tenders were promptly stopped. pressumably by brokers acting for the Defence Committee

pleaded guilty to a charge of ware house breaking.

Porter, sen., in a written state- ment, said he had a wife and six 820.40 $20.80 20,60/21 children. At the time of the offences one child wes ill, and he had just received a letter from his heart- broken wife saying that the child was not expected to get better. Both he and his son were out of work and the wife and children were starving when the offence was committed. His wife had since given birth to a child, and she told him in a letter "that she was now threatened with being turned into the street through being unable to pay the rent. His son Frederick was suffering from consumption. His wife had said she had just brok. en up a sofa to make a fire for a gick daughter.

T.19

FELO

H.K. Electrica

Macao do

Sandakan Lights..... Telephones. China Buses. Tractions..........

Do.

(pref.).....

"Industrials

813

Macgregor) (pref.)

TERM⠀

TES

Public Utilities

Tramways

$20.90

3/1,65|

Peak Trams (old).

$6.05

Bc. (new)... $54

974

$75

Star Ferries

***

$24 210

$24

C. Lights (old)...... $23.70

$24

$19

Do

(new)...... $18

823

3783

973

***

Straita, Ceylon, Indian, Mauritius, *Mom

base, Lourenco Marques and South Africa

9, Africa, Adon, Egypt & EUROPE Kashima Muru Let, 3rd, B. vin Markeilua-dae Murseilies, 2nd June

The

Parcela only for Germany vin Manila &ę

Hamborg Saigon ...

1

G.P.O. Reg., 3rd, 8.454 M Letters B.XJ A M

Saturday, 3rd,

1:30 M 5.00

}}. Deflingeri

Narning ...

Mexico Haru

Amoy

Kingyuan..

.5.00 z

++

$5.10

Manila

Pres. Polk

5.00-

1

3123

$13

Sunday,

4th,

10/.

18/3

T.10

Caldbeck, oml)

T.10 $24

Swatow, Amoy & Formosa

*Swalow & Bangkok........

Foochow

Manila, Australia and New Zealand rin) Brisbane-due Brisbane, 19th May

Hotun Maru Kwangchow

Monday,

9.00 & 9.00"

5th,

Luchow

3.30 + M

Beg

4.15 PX

Melbourne Maru Letters 5:00

Canton Ices

310) 811

$18,20

Cements (comb.)... $1.30

Tuesday, 6th,

Do

$11

Foochow & Wet Hai Wei'r a Swntow

... Huichew

9.3JA

Porter, sen., was

347

Kowloon 1.0.

Gorst

$9.18 Ropes

$8.30

$0.80

China Sugars,

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Beg,

10

827

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*

819

East and BouthAirion, Adon, Angera... Egypt & EUROPE via Marseillä dze Marseilles, 7th Jane

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Pres. Pierce

$231 $0.50

23.20%, 25

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

Swałów...

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Amusements .............

$30

$30

$1.10

Constructions.....

$1.20

83

Lane Crawfords... $3

$18

Mackintosha....

Nanyang Tobacco...

$4

$12

Sinceres (eld)...... $11

Straits & Calcutta Manila

...Falshing...

1,00

G.P.0, Reg. 1.45 r į Lettore 9.30 PM

Kuliang Emp, of Canada..........

4.30 M

Wednesday, 7'h,

8.30 AM

Tharada,, 8tb, Parcels Noos Letters 1.00PM

...estera

Do. (new) ...... 810.40

$11

Watsons ******?

$11.40

Wm. Powells****** $9

B. Ind. G. Bonds... 63%

Swatow, Amoy & Foockow Amoy

Hoiching. Yuensang....

8.30 I

Friday,

Stib,

1.00

H.X. Govt. Loan ....

$107

In publishing Mr. Cruden's letter and the accompanying circular, we must point out that the statement

In these days of low levels for published in yesterday's issue was not seriously inaccurate. We stated most commodities, the maintenance Sentence on that "another interesting report of the prices of coffee in face of postponed for six months. relating to the sugar business is the very unfavourable statistical and Frederick Porter were bound that the business of Messrs. Fraser, situation is very surprising. Brazi-over for twelve months.

Entor & Co., Sourahnya. is being wound up, its interests being taken over by the Maclaine Sugar Co., Ltd. Mr. Cruden's letter confirms this, as does the firm's circular, though the latter adds the fact that all the other activities of the firm will be conducted as heretofore,

Mr. Cruden saga, in regard to our statement that some big develop ments aro expected in the sugar busineks, that "it is not anticipated that the creation of the Maclaine Sugar Co., Ltd., in Java will cause any change in the sugar business. ns hitherto conducted by Messrs. Fraser, "Eaton & Co."

We did not suggest that it would. What was suggested, however, has not been denied that a well-known British firm in Hong Kong is very closely interested in the Macinine concern, and that as a result of that interest some big derelormente are expected in the sugar trade. Events will show whether the information in our possession is authentic.

EXCHANGE RATES. [BRITISH WERKLEKS SEKVICE)

Ruoay, April 29.

Paris New York

Brussels

Geneva

'Amsterdam

Milan

123.83

'4.80 7/32

.... 34,82

25.075

lian support for the market seems to be, based on the belief that fur- ther foreign loans will be obtain able, and negotiations are said to be proceeding satisfactorily.

The difficulties of marketing con- trol are very apparent at present in the case of Cotton, Wheat and Sugar. and it is hard to believe that Brazil can continue to haunt the law of supply and demand.

i

Ono dollar is left to Mr. Lew Cody, the film actor, under the terms of the will of his wife, Miss Mabel Normand, the film come dienne. Mr Cody is named en one of the executors of the will, which bequeaths £18,800 to 'Miss Nor- mand's mother.

AMERICAN STOCK QUOTATIONS.

LATEST WALL STREET PRICES.

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

Tone of Market-Irregular. No. of Shares done-5,500,000,

·Call. Money-4 per cent..

American Smelting

Anaconda Copper Baltimore and Ohio Borg Warner

Chrysler Motors

City Service Common'

New York, April 29, 1930...

***

$2.85 63%.

8%

prem

(old Do. (new)... $41

United Asbestos ...

Miscellaneo

Dairy Farms.****

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الله

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36

12.07į

Curtis Wright Common

300, A None

41

13

-92.70

Eastman-Kodak-im

AB

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20.385

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Stockholm....

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53

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Copenhagen

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47

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General. Ry. Signal

Tai Po ...

Vienna

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Gold Dust

45

Prague

Madrid

Helsingfors

184 1932

Goodyear Tire and Rubber

82

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39.265

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International Cement

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Athens

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International Nickel

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44

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Rear Coborated

„Bombay

Shanghai

Buenos Aires

Hong Kong

Yokohama Bilver (spot)

Silver: (forward)

433

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None 20

Stanle Autan Pingaban,

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1/11

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3E

1/0 1/16

Standard Oil Co. of New York

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Shatin, Shataukok and Shrungshui

8.00 p.m.

40

Salking...

.4.30 p.m

10.30 am.

4.30 p.

Twelve months.'

$15.00

2/0

Union Carbide and Carbon.

2,60

Natan, Shakki & Taiping?

19 11/10

U.S. Rubber

None.

7,00 p

7.00 pm.

(Famin)

19 9/10

United States Steel, as