1930-05-05 — Page 11

Money and

NEW YORK STOCK

EXCHANGE.

SEVEREST SELLING WAVE

SEEN THIS YEAR.

SHARES OFFERED FOR. SACRIFICE PRICES.

(UNITED PRESS.)

New York, April 29-The New York stock market was subjected to-day to the severest selling wave of 1930, says the daily stock ex- change review of the Dow Jones Financial News Agency.

Values melted and leading indus. trials, rails, utilities and speciali ties were hard hit. Thousands of shares were thrown upon the mar- ket for whatever they would bring-

Poor Earnings the Gausa. This decline was primarily caus- "ed, in the view of experts, by the poor earnings reports for the first quarter. As a result, all the Dow Jones averages showed major de- clines. Sales for the day amount- ed to 4,852 190 shares. Call money, which has been at 31 per cent, was quoted at 4 per cent.

The showing for the rails was. especially bad, as the first 46 rail- roads reported a decline in earn- ings of 30.3 per cent. for March us compared with March of last year. The Dow dones average for rails to-day showed a decline of 271, to

146.72

Among the leaders, Pennsylvania was off 1 to 10 for to-day's close as compared with that of Saturday; New York Central, elosed at 173, off 41; Erie closed "off a point to 53; Union Pacific, was down 7 to 221: Canadian Pacific was off two points to 203: Missouri Pacific closed at 88; Baltimore & Ohio was off 1 and 13 and Scuthern Pacific was off 1 to 1221.

Ol: Subjected to Selling. Oils were strong early in the session but then were subjected to lling. Standard Oil of New York closed off a quarter to 38%; Stan dard of New Jersey was off a quar ter to 52; Continental Oil was off

I to 281; and Phillips Petroleum

Markets

Anaconda Copper was down 1 to.624. Tran, America was of to 45. Kreuger & Toll held at 331. Kroger Grocery was off 1) to 35 Borg Warner declined 14 to 39. Woolworth lost two points to close at .. United Aircraft was off two points to 84 but Curtiss Wright common rose a quarter-point to 13.

QUOTATIONS.

THE HONG KONG DAILY PRESS MONDAY, MAY 5, 1930.

SLUMP IN METALS. DAILY SHARE QUOTATIONS.

COPPER AND TIN MINES "CLOSING.

PRICES LOWEST FOR 17 YEARS

An important item of news for those interested in metals comes to

on

HONG KONG STOCK EXCHANGE.

SHAREBROKERS

"ASSOCIATION..

Видет

Bellere

Below Woul

SATURDAY. MAY 3.

Buyers Batter

Sales Nominat

G!!!

us from Mesars. Pentreath & Co., $1,400 || $1,410 who Saturday received the following cable from Messrs. Hornby, Hemelryk & Co., of Liver- pool:-

***

Banks

H.K. Banks

£17

********* 81,400) $1,410) Do. (London) ** Chartered Banks....

530

Mercantile Bks. "A"

Do.

Bank of East Asia... | #107

$109

New York, April 28. Market weat Business done 4,852,190.

Apr. Apr. 33 33

Copper and tin have reached prices which are the lowest record- ed for seventeen years, and are now Mines under cost of production. are closing down because it is un- profitable to work them at these, prices."

Izgurances

$880

Canton Ina.

$875

$16

Underwriters

$1.30

$1.40

1.160 $460

North China

T160

460/65/70

Union Ins...

$465

M.850

Yangtze Ins....

$60

$365

China Fires

#356

***

$900

H.K. Fires.....

3900

Shipping

$29

Douglases

$21

Steamboats

$28

$43

Indos (pref.)

03/

Adame Exprons ... Allied Chemical & Dye... American Can. - American Rolling Mill... American Smelling American Tel & Tel. American Tobacco 8" Arierican Waterworks... Arco Copper Atlantic Bolning Baltimore & Ohio Bethlehem Steel Borg Warner Calumet & Becla

Canadian Pacific Ballway Chesapeake Corporation Chicago Rock Island Chrysler

Cities Service, Common

Columbis Gas & Electric Columbia Graphsphone Commercial Solvents... Commonwealth & Southern Commonwealth 4., 8. Warr. Consolidated Gas of N. Y. Continental oli... Corn Products... Curtian Wright, Common Davision Chemical

Du Pont de Nemours

Eastman Kodak Electric Bord & Sharo... Erie Railway .............. Fox General Electric General Food

General Motor «- General Railway Signal Gold Dust

Goodrich Bubbor Goodyear Tire & Rubber Granby

Great Northern Certificates Hudson Motora...

... 331 841 ... 140 145

851 831 -721 71 ... 2511 20 2401 2:15 110 1157 041 621 45 45 ... 115 113)

... 101 093

41 391

21

220

... 205 203

761741

...Unq. sq.

*7 36 Ung. 411

International Coment ... International Combustion Eng.

International Harvester

International Nickel... International Printers Ink International Products, Com.... International Tel & Tel Johns Manville", Kennecott Copper Kreuger & Toli Kroger Grocery... Lambert....

& Myera "B

registered one of the rare gains of Liggestrel

the day by closing at 41%, up

The Dow Jones average for 30 reflected the trend industrials severely, heing off 8.82 to 276.04.

U.S. Steel was down three points to 185; Bethlehem was off 18 to 001; and Ludlum was of 3 to 33. Westinghouse dropped 91 to a close of 184. General Electric was down three points to 87. American Can declined 4 to 145, American Roll. ing Mil was off 2 to 83). Allied Chemical alumped 10 points to 391. Du Pont was off 1 to 133].

Motors and Utilities Decline.

motors, General Among the Motors declined 18 to 473; Packard was on a point to 184; Hudson Wes

Mack Trucks

Missouri Pacino Montgomery Ward Nevada Consolidated Copper. New York Central Northern Pacific Railway Pacific Lighting Packard Bister Car Paramount Famous Luty Pennsylvania Eailroad Pensroad Corpemtion... Phillips Fetroleum Public Service of N. Jersey

Union

83 811 37 34 331.83 181 181 51 51

CANTON INSURANCE OFFICE, LTD.

Appended is the report of the above named Company to be pre- sented to the shareholders at the 49th annual meeting to be held here on May 16-

The General Agents and Consult ing Committee have pleasure in submitting a statement of the ac- counts of the Office, made up to. December 31, 1999, in Sterling and Hong Kong currency.

1928: Account.After payment of an interim dividend of $18 per share on May 23, 1999, this account shows a surplus of $748,019.40;" and it is recommended that this sum be appropriated as follows:-

1851 180

29 281

107 10

12 13

To pay a final dividend

1861 1831

"of $27 per share...8270,000.00

To add to underwriting

suspense account to

$971

Do (def)

90/4 Shell Transports... Water-boats ............***

36/3

Mining

Banquets........

Kilens

T13.60 Langkats (comb.) ...

1.71 Do. (single)

T130 Explorations..........

192

Raubs

81/.

Tronoh Mines

T6.40 Shanghai Loans ...

8160

#160

$5.50

35.30/. 36

$38

close the year 1928.... 476,019.40

1127 T.8

654 03

00 8

$748,019.40

60) 50

49 47}

96 23

477 46

847 821 35 38

To

47 雌

0 10

109 105

36 35

56

61

1929 Account.-The amount stand- ing at creilit of this account is $1,012,581.53. Ous of this sum, it is further recommended that an in- terim dividend of $18 per share be paid, absorbing $160,000, the balance of $1,732,581.53 being car ried forward.

Docks, WharveI,

Godowns, etc.

.

$23

19/3

H.K. & K. Wharfa... $169 Provicenta...imens

H.K. Docks

85.35

CATAN

Shanghai Docks

New Engineerings

T245 Hongkew* ..........

Cotton Mila

Ewos

**

!!!!!!

!!!!!!!

#1!!

$50

$80

826)

FOREIGN MAILS

RADIO NOTICES..

The Radio Office, where. full information concerning all wire- loas services may be obtained at all times, is altuated on the ground floor of the P. & U. Building in Des Vœux 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.

The Parcel Post Service tu Kwangsl with the exception of that to Wa chow, Kwailin and Pingle, is temporarily suspended until further notice.

INWARD MAILS.

From

PEB

DUZ

Prea. Pierce

5th May

Melbourne Marsei Angere

Tuigo Maru Yuensang

5th Mar

་་་

6th May

6th May

7th May

Feng, of Canada....

Khion

8th May

9th My

13th May

UB.&. (San-Franciaco 11th April),) HONOLULU, JAPAN, BHADHAL And EUROTI VA SIBERIA (London, 16th Apr.) JAPAN Jarak & SuaNGHAI,

**

U.S.A. (San Francisco, 1th April),

HONOLULU, JAPAN and SHANGHAI CALCUTTA & STRAITS

CATADA (Vancouver, B.Q. 17th Apri),1

1.8.A HONOLULU. JAPAN & SHANGHAT]] EUROPE VIA SULZ (Letters and papers,

Landon, 19th April, and parcels, 3rd April) AustRawa & MANILA,

Tai Ping

OUTWARD MAILS.

REGISTERED and PARCEL MAILS are closed 18 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 5p.m. on the previous day,

Medan & Calcutta

FOR

*Straits & Calcutta .....

Swatow

PI2

DATE & TIME

Stonday,

200

Forthbank Seattle Haru Hydrangea

5th 10.30 A

4.80 -

3.00 X

Straits, East Africa via Momban, Tour

$37

T.127

U.S.A

T8.05

Shanghai and *EUROPE.is Siberis Foochow

(T13.10] az rights

S'hai. C'tons (old)...)

Do. (new)...

1.76

4

Manila, Australia and New Zealand via),

Brisbane dee Erisbane, 19th May.

endo Marques, South Africa & *South' "American Porbi... Japan, Honolulu, Canada

America & EUROPE via San Fran- Prus, Madison... Reg. cisco-due Ean Francisco, 28th May ...

Pres. Madison... Lattery Luchow -***

Hakata Moru'

2.30 PM

C. & S.

Parcels 8.00 EN

4.15 PM

Letters

HOL

5.00 * ».

5.00

6.00 r

@eg. Melbourne Marul Lettern 5.00.

·8.30 P 4.15 PM

T.70

T9.70

T.10 Zoong Sings

147

#richons Tiilsbost

Lands, Hotels and

Kowloon P.0.

12,80)

12.70/. 60

976

$9.80

aigon, Straits, Ceylon, India, Mauritine,

Fast and Fouth Africa, Ades, | Egypt & EUBOPE via Marciller—| dae Marseilles, 7th June..

Beg

1.10

Angers

Letters

1.00

Q.P.0,

Bep.

1.45

Le terk

2.30

$142

Tai Fook Sing.

4.307

Saigon

Pres. Pierce

Manila

20.75/80

Swato

Amoy

T.13 T13.40

T.79. T:76

$12.60 312.50 $12.70j $75 $75 $70/1

1955

T.253 $9.35

$143 $03

$94

Consulting Committee.-Mr. A. S. Gubbay resigned his scat on ac- count of his departure from the 7 Uaq. Colony. 741 721 Sir Robert Ho Tung, Messrs. A, 117 1081

H. Compton, L Dunbar, Henry 481479 332 333

Hum breys, . E. Pearce and A. ao set H. White retire but, being eligible, 108 101 offer themselves for re-election. 100 108

accounts Auditors. The

bave 32080 821 been audited by Messrs. Lowe, 701 78 Bingham & Matthews and Percy Unq. 88

Smith, Seth & Fleming who, being, "47"

444 2222 cligible, offer themselves for

election. 1792 176 Vnq: B6

361 331

1031 102

181 781

71 894

801 791

14 131

41 41

120 116

081 64

521 52

48

401

- Buliding# H.K. & S. Hotels. H.K. Lands.......) $741

Shanghai Lands ... H.K. Realtys*******

Humphreys

Chinese Estates

Public Utilities

•Tramways ...

Peak Trame (old)...)

Do. (new)...

Star Ferries

C. Lights (old)...... 25

Do

(1209)...... 820)

20.90/121

$11.65 36.00

$79

$194

8254

826

rc-

32C3

$21

3743

823

JAPAN'S COTTON

31

$12.90

INDUSTRY.

China Busesitu

Tractions

18/6

Do.

(pref)

TROUBLES IN PROSPECT.

Radio Corporation

The view that Japan is going to Reynolds Tobacco "H"

pass through the same troubles as Saura Roebuck...

8987 the American spinning section of Shell Urio

241 24 the Lancashire cotton trade was ex- Simmons Company

60 664 pressed by Mr. William Howarth, Southern California Edison ...

124 129 president of the Bolton Master- Southern Pacific Railway

... 124 1201 spinners' Association, when he was

elected to that position at the an

off a point to 40; and Chrysler was Standard Gas & Electric

off a point to 36.

י. י

The Dow Jones average for 20 atilities was off 2.20 to 103.96. Electric Bond & Share was off it to 1128 American Tel. & Tel. was off 4 to 83% and International Tei. &Tel. was off 1 to 728. Radio Corporation declined 4 to 64.

Standard Oil of New Jersey

Standard Oil of New York Texas Corporation Texas

Sulphur Gulf Timken Boller Bearing Trans America Union Carbide & Carbon Union Pacifio Railway...

nual meeting in Manchester

זי

On

82 es

89 38

58 60

April 8.

62

B11

82 81

811

...93

89

some pressure. He was quite sure

Japan, said Mr. Howarth, had

461 451 adopted the gold standard under

... 225 2211 Japan in the next two or three years would pass through a phase

B no lees danstrous than the Ameri

United Aircraft & Transport... 85 .86 United Dry Docks Consolidated Gas was of 5 to 130.B. Rubber Columbia Gas was down 2 to 81; E Steel

· Public Service of New Jersey Vanadium dropped 8 to 115; and Standard Westinghouse E. & M...

Woolworth Gas & Electric was off 4 to 120.

AMERICAN STOCK QUOTATIONS.

LATEST WALL STREET PRICES.

20 27

ea

84

ཋ;;མྨཱཛྫི༔

H.K. Electrics $74 Macao do

བ་བམ་-

Sandakan Ligita D

Telephones........... $124

Industrials

Caldbeck, 1(ord.).

Macgregor (pref.)

Canton Ices

Cements (coinb.)...

Do. (new)...

JUANTHA

Foochow Wei Bai Wei via Swatow Java via Batavin

Fort Bayard, Holbow, Pakhoi & Haiphong Tonkin

3traite & Calculin

374/1

Manila

$13

Swatow, Amoy & Fooshow Amoy.....

Straits, Ceylon, India, "Mxaritive, E. & S.;

Africa, Aden, Egypt & RTBOPE vis "Mareilles dra "Marseilles, 7th June!

due Victoria B.C., Slat May

Yatshing... Taiyuan ...

Teslay 6:h,

9:33

10,30 & 1

12.30

4,30

8.30

3,80 r

Thursday, 6th,

Kutsany Emp. of Canada...

Parcels Letters

Noon 1001

5.00 X

Friday, 9th,

Haichting Yunsang...

1.00

Kowloon P.0. Parcela 4.30 PM Boc., 10th 9.00 A N

Kashgar

Kanshow Tyndareua

T.11

T10

·321

$16 $16.45 16.25/. 46.

$18.30

Do 4*

$11

(old)...

$11

$8.20

Ropes

$8.10

Hoihow, Fakhoi & Haiphong.. Гарки

31,20 $11

China Sugars.

827

Malabon Sugars

$29

United Asbestos

Japan, *Caonds, *U.S.AC.& 8. America & EUROPE via Victoria, B.C.,-

Pres. Fierce

MiscellaneouLS

$25 $0.80

$25 $24/25

Dairy Farms...ziza

8241

$241

Shanghai & *BUROPE via Siberia

Pres. Pirron

...

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

820

Amusements

$29

$30

31.10

Constructions

$1.20

Swatow, Amoy and Foodbow

Haijang

$3.75

$3114

Lane Crawfords

$2,37

$19

Mackintosh

Elraits, Ceylon, India, Mauritios, E. & 8.

Nanyang To

Tobacco...

$4

$12

$11 $2.85

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

$10.10

$11.40

ax. int.ex

Ung.

can section in Lancashire had pass ... 188 185 ed through. "I am prophesying," 130 130 he added, "and it is dangerous to ... 193 194

prophesy, but I know that the world influences which so dislocat- ed the American section of our trade will affect Japan equally forcibly." Drapers told him that sometimes foreign goods were sold in this country because they had a little touch of art and colout which 6%pme appealed to the imagination of the customers. He thought possibly we had been a little too stodgy in our trade methods and had allowed trade to be filched away from us by those factors. Art and the at traction which a beautiful article had for the female mind were, points they ought to study.

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

Tone of Market-Weak.

No. of Shares done-5 million. Call Money 31 per cent,

"American Emelting

Anaconda Copper ..... Baltimore and Ohio"

Borg Warner

Chrysler Motors

City Service Common

-EXCHANGE RATES:

[BRITISH WIEZLESS SERVICE]

Geneva

Amsterdam

34.845

Sinceres (old).........} $11

Wm. Powells.). (2) B. Ind. G. Bonds... 8322 H.K. Govt. Loan ...) #104

LOCAL AND REGULAR OUTWARD MAILS.

Africa, Egynt & EUROPE via Mar Patroclus seilles-dus Marseilles, 11th June...)

5.00

Letters 10.00 A

PO

Par, 9th, 5.ro Rey 101,9.4G & Y Letters 10.30 AM

Saturday, 10th,;

990 10.00 AM

Monday, 12th,

'arcela

Bez.

Letters

8.007 M

416 PM

5.00 2 w

g... 5.00

Letters 6.00 M

Tuesday, 13th,

1.39 Kowloon P. O.

BAR⋅

4.30 Letters 4.30 PM G.P.O

Ber. 5.00 M: Letters 6.00

W. dresday, 14th Parcels 6.00 pa

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

&. America & KUROPE via Van- ! | Emp, of Canaña) Thuraday, 150,

conyer, B.C.-lue Vancouver, B 30th May & Europe via Siberia

Mansang

|Beg." 9.15 4X-

Fattere 10,00 Aa

Thursday, 15th

1.80

9.00 m

2.00 p 12,80 p.m. & 4.80 px. Baturdayn

1.00 pm &

Lonly

6.00 pm

11.01.

(11,00. -{& 4.30 p.)

BRAMON

P.O,

[7.30 a.m. &

8.30 am. Lonly.

8.00 pm

·6.00 pl

"Superscribed correspondence only.

Printed at the Hoxo KONG DAILY PRESS " Offic

BEFORE YOU

FORGET

Send your Overseas Address to 11, Ice House Street, and order the Weekly Press to be sent to you for

Three Months

WERK DAYS.

FROM G.P.O.

FEOX SHEUNGWAN BRANCH PO.

FROM G.R.O.

SUNDAYS & HOLIDAYS

Foox *SUKUNGWAN

Bandarar

NEW YORK, May 2, 1930.

Lant Dividend.

Latest Sales.

€7,15 mm. &) 1.7,30 2,m. 16.00p.m. 17,00 p.m.

(7.15 am. 8.00, p. Bundays

pm, only

7.00 pm... Bunday

2.00 p Lonly

59

RUGBY, May 2..

(7.15 m. & 17.30, &

--Paris

123.625

1.16 p.

1.33 m

New York

4.88 0/32

Macao & Tajnahan

( 1.15 p.m. pl 1.30 pm:

Bunday

SundaYA

33

Brussels

8.15.

30c A

28.07.

Curtis Wright Common

None

12.07

Eastman Kodak .....

BB

Milan

$2.745

Kongmoon (except Beturdays) 5.00 pa Kaukong (except Saturdays)....

6.00 pe

8.00 pt

Electric Bond and Share

6C.

105

Berlin'

20.385

Erie Railroad

None.

Stockholm

18.00

Fatahan (By Train)

7.16 0.

General Motors.......

Copenhagen

18.163

Tai O

-0.00

General By Signal

Gold Dust

Granby Consolidated

Goodyear Tire and Rubber

Oslo Vienna Prague

18.18

↑ 3,00 a.m, &

7.35. 9.00 .. 9,00 m.

34.405

·3041·

Tai Po

Shurachun

3,00 P

Hudson Motors

International Cement

Montgomery Ward

Nevada Consolidated

Radio Corp

None

Sears Rosbuck & Co.

2D

Simmons Co

Standard Oil Co. of New York

1.00

Union Carbide and Carbor

2.60

U.S. Rubber me

None

United States Steel,

* * C * * * * * * *

Helsingfors

193

Madrid

30

Lisbon

108,30

Athens

Buenos Aires... Bombay Shanghai Hog Kong

Yokohama Silver (spot)

Silver (forward)

375

Cheungchow

819

42 13/14

Aberdeen

Autam

1/107

1/8 2/01.

101

-10 5/18

+1/597/32

Baloghan, Santis,

Shatin, Shatanker, and Sheungahui

Balitang

(Famin)

تصبح 1:00

8.00p.m.

40

10,30 1,22,

-420 pas

Ramtan, Bbekki & Taiping

$3.75

Six Months

7.50

Twelve Months

$15.00