1930-05-07 — Page 11

Money and

COTTON MARKET.

REPORTS FROM VARIOUS

TRADE CENTRES.

Messrs. Pentreath & Co. have received the following report from Mesars. Hornby, Hemelryk & Co. under date Liverpool, April 8:-

American Cotton.

The market has shown a steady tendency during the period under review, and, on balance, prices are practically unchanged.

The steadiness is due partly to further tightening of the May.and July positions in New York, partly to short covering, and partly to some manipulative buying. Another reason for the steadiness has been the rather larger business done" in Lancashire, and the calling of cot ton in this market.

Rumour has it that the Farm Board, or rather the Couperatives, sold on Friday some of tier July contracts, but we have been unable It to obtain any confrmation. would appear more likely that the Farm Board is holding out for 4 price of, say, 17, which would get them out with a profit In the meantime, estimates of the Farm Board's holdings of May and July combined run as high as 600,000 bales.

...

Markets

THE HONG KONG DAILY PRESS WEDNESDAY, MAY 7,193 1

CANTON TRADE

NOTES.

Arrivals of black sesame are very limited, and the price has risen, the current quotation being 821 per

DAILY SHARE ( QUOTATIONS.

Врут

HONG KONG STOCK

EXCHANGE..

Kate Boilers

The cotton yarn market is dead, and pricas remain low. There is practically no demand except some Tetails. According to a Shanghai | 81,400 | #1,405| telegram, the market there is also inactive.

With regard to the 230,000 cantarspicul of Sakellaries purchased in pre- vious seasons, this cotton is at pre- sent being shipped abroad to be sold for account of the Government It is belived that the Egyptian Government has decided to resell its stocks of new cotton at a moderate profit, so that spinners, will be able to buy their usual qualities during the remainder of the season, but, of course, pot be- low the Government's purchase prices.

*

The price of rice is still high.. There have been no arrivals from the East River districts. Supplies from Hong Kong have increased, and during the past ten days, some 7,128 piculs of foreign ries were

The demand for Egyptian yarn has been rather more encouraging.imported. Discussions are now, taking place among spinners regarding a pro- a price-fixing posal to establish scheme.

UNION INSURANCE SOCIETY.

The following report will be pre- sented at the 37th annual meeting of the Union Insurance Society of Canton, Ltd.. to be held on May 30

The Board has now to lay before shareholders a balance sheet con taining a summary of the property and liabilities of the Society oa December 31, 1029, and a statement of working decounts.

1928 Account-After payment of the interim dividend of $4 per share and the bonus of 20 per cent. to contributors passed at the last annual meeting, there remains a balance of £129,826.15.9 as per an nexed statement.

The Board recommends that a final dividend of 168. per share on 133.000 shares be paid to share holders, absorbing £108,000, and that the balance be carried forward to underwriting suspense account to close the account for the year 1023.

Notwithstanding the political uarest in India, which, by the way, seems to be subsiding somewhat, and in spite of the boycott of for eign cloth which the Bombay Coloured and Printed Piece Goods Merchants' Association has decided to pursue for three months, and of the passing in the Indian Legis lature of the bill raising the import duty on Lancashire goods from 11 per cent. to 15 per cent., there has Leen more business done with India.ed Trade with China has been on restricted lines, but China seems to show more disposition to come into the market.

2

We hear, too, that the, trade de- pression in Cermany is not so pronounced, and in America there has also been a distinct trend to- wards improved trade.

-Phe-weekly weather report was somewhat unfavourable, and accord ing to the Financial Chronicle," coldness has delayed planting dur- ing the past week, and some frost damage is reported in Texas to carly planted cotton.. Latterly, how." ever, the weather seems to have it proved.

Mr. Hester estimates the fertiliser sales in March at 1,010,000 tons, against 1,563,000 tons in March last year.

The acreage question is creating a good deal of discussion. Some people expect a reduction of 5 per cent., which would, of course, be meet the totally inadequate to situation. Others point to the fall- ing off in the sales of fertiliser and look for a larger reduction,

The price of wood-tar oil has had a sharp drop, being 819 per picul a compared with 840, the usual price. Wood-tar oil is imported from the West River districts and exported abroad in very large quan- tities annually.

Artificial silk has been in brisk demand by the populace on account Some 1,423 of its cheap price. piculs were imported during April. There has been also a healthy de- mand for piece goods, woven with artificial silk, and during last mouth, some 298 rolls were im. ported.

*

There has been a decrease of goods exported to America recent- ly in view of the report that the U.S. Government has decided to in- crease the rate of import duty as from May 1. Exporters declare that their business, which has been bad during the past few years, will be greatly affected if the import duties in America, are increased.

*".

+

1109

$893

Simu

SHAREBROKERS ASSOCIATION.

Numlan

TUESDAY. MAY 6.

Buy Beere Biominal

Banti

HK. Banks.................] $1,400;

Do. (London) Chartered Banks ... Mercantile Bks. “A'

!!

£18 £29

£16

FOREIGN MAILS

RADIO NOTICES.

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

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

The Parcel Post Service to Kwangsi with the exemption of that to Wa show, Kwailin and Pinglo, is suspended antit farther notice.

INWARD MAILS.

From

SWATOW

U.S.A. (San Francisco, 16th April),)

Taklison ...

PER

Duz

Van Houten

7th May

Tutiyaar

Kanchos... Sinking

Yuniang

Kasp.

of Canada....

8th May

Did May

9th May

9th 3.3

eils

£50

[219]

Do,

MON

Bank of East Asia.. | #112

Insurancss

$900

Canton Ins.

$875

$1.40 Underwriters

$1.70

$1.60

T.160 $470

TAR

North Chins

T160

$475 $470

Union Ins

$470

$470

Honolulu, Japan mod Shanghai.. SHANGHAI & SW-TOW-

M.850 Yangtze Ins...

$60

1985

China Fires

#336

Beinonai & SWATOW - Axor

$900 H.K. Fires

$900

Shipping

$291) Douglasca .........**

$21

12

Steamboats

196

$43

Indos (pref) ..........

160

$40

Do. (def.) ir

$80

94/7

Shell Transporta ...| 95)-

$282

$36)

Kuzors via buzz (Letters and papers, Londen, 10th Apell, and parce,

3rd April)

BATATIA

Tai Ping

T.I

T.9

0.8.4. (San Francisco, 25th April

Honolulu, Japan & Shanghai, U.S.A. (Ban. Francisco, 16th Aprî },,

HONOLULU, Javan & Shangus

Pien Taf

Ohichsbu Maru

19th May

2 th May

11111111

$188

᎒ ነ ፣ ፲፮ -

1

ex rights 389

Water-boats........

Mining

Benqueta.....

Kaikina

T1380 Langkats (comb)

T.7. Do. (single) T130 Explorations........................... T6.40"Shanghai Loans ....

91/-

Raube

Docks, Wharves, Godowns, sta

Tronoh Mines

18/3

!!!

164776

H.K. & K. Wharfs

$167

$5.60 #5.70 $6.80

$38

Providents...

T.129

85.50 85.70 $6.50/70

$37 T.1271

T8.05

The sugar industry in Kwang- tung has declined on account of a,

T8 plentiful supply of foreign sugar. T.260 Over 60 per cent. of the sugar re- 1929 Account:-The balance of fueries have gone bankrupt in 2077- working account on December 31, sequence. The Canton Reconstruc 1920, was £410,700.1.4 as per annex-tion Bureau is considering measures

statement.

The Board recommends that an interim dividend of 248. per share be paid to shareholders, absorbing. £182,000, that a bonus of 20 per cent,

for the relief of the industry, which was formerly one-of the most im- portant industries in Kwangtung.

Soap. manufacturers have been

T.1st

T.70

T.78

be paid to contributors, absorbing flourishing in recent years and about £20.000 and that the remain-there are over a hundred soap $12.80

factories in the city. Their pro- dar be carried forward.

ducts, besides supplying the needs of Kwangtung, are exported to

Directors,

Since the last general meeting, Kwanzai, Malaya and other places Mr. L., J. Davies, Mr. W. L. Pat Lin-large quantities. Demand for tendes and Mr. W. H. Bell resig-locally made soap is especially Fed from the Board, and The Hon. healthy this year on account of the

Mr. C. G. S. Mackie, Mr. D. O. Russell and Mr. J. K. Bousfeld rise in the price of foreign goods

caused by the exchange. have joined the Board.

803p of superior quality is not manufactured in the city and is imported from abroad.

In accordance with the articles of association. Mr. ". A Plummer band Mr. P. Warren, retire, but

offer themselves for re-election.

Auditors.

Messrs. Lowe, Bingham and Matthews and Messrs. Linstead and Davis, chartered accountants, re- tire, but offer themselves for re- election.

J. OWEN HUGHES,

Chairman.

Hong Kong, May 3,

If the price is to be maintained

Mr. A. J. A. Wallace Barr, on for American cotton, which costs more per lb. to produce than com- behalf of Messrs. Cellon, Ltd, of petitive growths, it is obvious that Kinston and Richmond, has offer- reed the British Gliding Association something more drastic than duction of & per cent, in acreage a prize of £1,000, to be competed will be necessary.

However, the for under the rules of the Royal acreage question is still in the lap Aero Clab, for the rat all-British of the gods.

glider flown by a British pilot. We stated last week that we which crosses the English Channel ups and between June 1, 1930, and May 31, rather expected small downs. That is really; what has 1929. Full conditions and regula happened during the past week, and tions will be announced later. Mr. Wallace Barr, who has taken great this situation may continue.

interest in aircraft since the early days, offered a prize in 1823 of £50 for a glide of 50 miles in a straight line. This prize, which has not been won, is stil open.

The price is reasonable, because, after all, we are much cheaper than last year, and we are not likely to have a carryover at the end of the season greatly in excess of last year, but, from now on, the weather and the Farm Board will need to be watched carefully.

Should we get bad weather, the market is undoubtedly ripe for an advance, but the Farm Board, with its holdings of cotton, in casting its shadow over the market, and pre- vents one having a definitely bullish opinion.

Empire Cotton

Bombay receipts last week only" totaled 84,000 tales, compared with 345,000. in the, previous week, and. the stock is now less than a year. ago, whereas previously it has been considerably, in excess of last year.

Our attention has been drawn to n factor which may have an adverse influence upon the narrowing of the Liverpool-Bombay straddle, viz., the proposal made by the bazaar not to trade in new crop contracts unless the constitution of the Bom- bay futures market is altered. Trading in new crop contracts should begin on May 1, and if there is any delay, it is possible that in the absence of a distant hedge, there may be heavy hedge selling of July contracts.

Egyptian Cotton.

The market has been more active during the past week. Continental and Alexandria, buying orders of November and January found a okreslsun. Nears, WHAK- ever, have suffered compared with distants owing to May liquidation The Egyptian Government's pur chases up to the end of March total *762,000 cantars of Bakel and 618,250- eanters of Ashmouni, inclusive of 297,230, canfars purchased for de livery this month.

Toilet

零

$20.00

*

New Engineerings

H.K. Docks

Shanghai Docks,

"Hongkows

Cotton Mil

S'hai. Ctons (old)...!

Do.

(new).

T.10 Zoong Sings......

Ewoo

Public Utilities

***

[T13.10] ax rights

120

Do (new)... $51

Telephones............ $12.60 $12.90)

***

:

CALCUTTA & STRAT1”

CATADA (Vancouver, BC, 17th Apri}), UBA, HONOLULU, JATAN SHANGHAI & Euroue via Siberia (Londo, 18th Apr) DAA (Seattle, 19th April), Canada,

Japan & SHANGHAI SINASIN

Fres. Jackson ... Lahore

Khin

Thikarang Tyibadak

AMOT & SHANOWA

M

Australia & Marija

He

Fox

PER

11th May

15 May

May

OUTWARD MAILS.

REGISTERED and PARUEL MAILS are closed 15 minutes earlier than the sims given below unless otherwise stated, and where mails are advertised to close at or before 9 a.m. registered and parcel mails are closed at 5 p.m. on the previous day.

DATY & TIME

Wednesday, 7th,

8130AM. 2,30

3.30 e

4:30 pm

Thursday, 8th,

$30

10.30

AN

Noon

Bulang... Bydrangea

my. of Vasarlari

100 M.

1.30 FX

Strmita, Ceylon, India, Mauritius, E. & S..

Africa, Aden, Egypt & EUROPE vis}| Kashyar Marveille-dne Marseilles, 7th June]

Kowloon P...

Parcels

430 71 4.307 10th,9.00 Lettora 30.00. 6.2.0.

t'mr., 9th, 6.00 ▼ ■

Ker 10th,9.45 A N

Hoihow, Fakhoi & Haiphong

|-Shanghai, *Japan & "EUROPE via Siberia Khion

Swatow... Fort Bayard

Talebing...

Wing Lee

Amoy

Taiyuan

T.16. Ta,70

Shanghai and *KUROPE via Siberia

Glenifer

Lands, Hotels and

Haiphong

Ninopo

Buildings

Straila

Van Beuter

EK. & 8. Hotels...112.70

$12.75

Stralia & Calcutta

Parcels Letters 1.00

$75

#79 $75,2

E.K Lands

$75

70//

B-ad0w...

8.00

T.265 $9,60

Shanghai Lands

Manila

5,000

39.60

H.F. Realtys

3143

Humphreys

*

69.80 $14)

$9.75

Friday,

(913)

-$98-

Chinese Estates

Amay-

Yurking

Parco s

NDOM

Straits & Calcutta

Takliwa

Loster

1,00

Swatow, Anioy & Foochow

Faiching

Tramways -----

$20 $21

20.70/180

Haiphong

Canton

$11.65 Peak Trams (old), $11

96.05

180/70

Ferries

$251

321

C. Lights (old)... $26 (now)......- $21.

"$20

$75

744/51

HK Electrics. $75.

741/70

EXCHANGE RATES.

[BRITISH WIRELESS SERVICE.]

23

Macao do

$3,60

Sandakan Ligita....

$12)

Ti

China Buses on

RUGBY, May 5.

1.10/m

Tractions

123.85

18/6

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

4.80%

Industrials

Brussels e

34.84

£3.085

13.075

T.11

92.73

20.385

T.10 $24.

Stockholm

16.095

$16.08 $16.10

$11

Copenhagen

18.105

241

Ова

18.16

Vienna Prague

34.485

Helsingfore Madrid Lisbon Athens

193) 29.32

*31 $1.20

25

$9.20 Ropes...

827

108,30

375

Bucharest Rio

818

5%

43 9/18

$257 €0.80 $20

1/5 3/10

31.40

1/101.

327

1/6

$18

9/01

19 8/10

$12

191

$11

Watsons

$11:40

$2.85 Wm. Powells

$21:

prom.

B. Ind. G. Bonds 65% HK. Govt Loan ... $104

Paria

New York

Geneva

Amsterdam

Milar

Berlín

Buenos Aires

Berabay Shanghai Hong Kong

Yokobama Silver (spot) Silver. (forward)

AMERICAN STOCK QUOTATIONS.

LATEST WALL STREET PRICES.

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

Tone of Market.--Weak, No. of Shares done:-8,000,000. Call Money-3) per cent.

American Smelting Anaconda Copper Baltimore and Ohio Borg Warner Chrysler Mators City Service Common Curtis Wright Common Eastman Kodak Electric Bond and Share

30c.

Noac

$254/1

$8,10

Caldbeck," ' \(ori.) Macgregor (pref.) Canton Ices Cementa (comb.)... Do (old)... Do. (new)...]

China Sugars... Malabon Sugars United Asbestos

"Miscellaneous

Dairy Farms, Der A. Wings........ Amusementa................ Constructions

Lane Crawfords Mackintoshs

Nanyang Tobacco...

Sinceres (old)... $11

Da (new)... #10.49

Japan

+

*Bestow & Foochow

Amoy

Bwatow, Amoy & Formoss

SIP 20

Bangkok via Swatow ....... :

Japan, "Canada, #U‚§.A., °C‚&#S. America EUROPE via Victoria, B.C.,-

$29

due Victoria B.O. 31st May Shanghai & EUROPE via Biberia

J

$25

$23 $30

$1.20

$31

LOCAL AND REGULAR OUTWARD MATLS,

8.15 *** Lonly

Kanila dwatow, Amoy and Foochow Straits, Ceylon, India, Mauritius, E. & E Africa, Egypt & EUROPE via Haz- seilles-dae Mineilles, 11th June!

9.30 AM 10,00 ▲ 20.00 M 5.000

·5.00 va

Sunday, 11th,

Lettore 10.30 ▲

Saturday, 10th,

Kundkow

Tyndarous

Chip Shing

Anking.

Canton Maru Kalgun

-9,00 .5

-9.00 A

Monday, Parcels

Pria Pierce

Beyon

Beg

Pres. Pieroa

Tikarang

Haigang...

Patrockis

፣፣

BLUF 415PM

Lottery 5:00 2

Lettern

5.0.PK

Whanghai, Japan, Canada, 0,9., C &e. America & *1⁄2 UROPE via Van Conver: B.Oue VanCOUVER, B., 80th May & Europe viz Bfberis

Emp of Canada

1Letters 6.00

Tuesday, 12th,

10.30

· 1,00, »»

Kosčloon P. O. Reg. 430

4.30 r G.F.U.

.5.00 ■**

Letters

Wednesday, 14th.,

£30 Parcels. '5,tx).r, I Thursday, 15th, Blog 9.15 M Letters 10,00 a m

Thursday,

1.80

Bardakan

WEEK DAYR

Flow G.P.0.

From SKKUNGWAN BEAXON P.0..

FROM G.P.O.

SUNDAYS & HOLIDAYS

From |BERUNGWAN BRANCH

New Yox, May 8, 1930.

(7.18 am, & (7.30 KM, &

Canton

Last Dividend.

(7.15 m. & 1 7.30 a.m 20.00 parti :) 7.00pm.

6:00pm.

7.00 pe

Bundays

Bundays

Sales. 67

(5 pm, only

1.00 p.m.

35

113 37.

5.7.18 . &

Macao & Trish

1.15 p.m.

7.30am. 11.80

1735 & 57,300

1.16 p.

∙180

Sundays"

Missing

Kongmoon (except Batards Kankong (except Batt

5.00 pa

6.00 po 6.00 pat

5.00 pm

6.00 pm.

None:

Fatahan (By Train)

7.15

7.15 am

T10

100siti

8,00 m

9,00 1.20.

11,0 m.

$11.00 am

{ & 4.80 p.m.

· 1,001. p, pē

Aberdeen

None

Stanley

1.00 pm

1,00 p

2 D

Autan Fingahan, Bar

Shatin, Shataukok

300 p

10.30 MENU

Simmons Co..........

Standard Oil Co. of New York

1.80

Shbingabul

Union Carbide and Carb

2.60

Halkung an

480 PA

U.S. Rubber

༧༦༣༣་:

Nore.

Hamtan Shakk! & Taiping)

United States Steel

......

Erie Railroad

General Motors rai

General Ry. Signal

Goodyear Tire and Rubber

Granby Consolidated.

Gold Dust

Hudson Motors

International Cement International Nickel -.

Montgomery Ward Nevads, Consolidated, Radio Corp Sears Roebuck & Co.

Tai To

Shumchun

Cheungchow

(Fumid)

-9,00

8.00 pm €9,00 12.do p

(12.80 p.m.

450 p Saturdays

Chaksang

Monsang

"Superscribed.

ondence our

Trade Notes & Statistics

Are, always of interest to Progressive

Business-men. You will find many

important facts, and figures about

South China trade in the Weekly

Press. Price 30 cents a copy,

per annum post, free to

address in the world.