1930-05-09 — Page 11

Money

and Markets

CHINA FIRE INSURANCE

CO., LTD.

Appended is the report to be presented to shareholders of the above Company at the 1st ordinary meeting on May 30:-

The Board has now to Jay before the shareholders a balance sheet con- taining a summary of the porperty and fiabilities of the Company on December 31, 1929, and a stateffent of working accounts.

.ment.

"

Bankrupt Traders.

The nearest to this figure, for the last ten years, was during the slump in 1992, when the number of receiving orders granted was 130. Thanost highest was in 1928, when the figure was 13t. The great ma- jority of the bankrupts are trad- ers though, of course, it must be considerable remembered that number of clerks, who have become involved in difficulties with money. lenders, also help to swell the figure,

11

a few

Several big development schemes 1028 Account:-After payinent of have been postponed, and the interim dividend of 83 per share completely abandoned owing to the passed at the last annual meet grave risk of heavy expenditure at ing, there remains a balance of such a time. Expenses are befag $445.004.08 as per annexed. state-rigidly curtailed in all business houses and only thou schemes The Board recommends that which were planned and provided final dividend of $9 per share and for previous to the trade stump are a bonus dividend of 80 per bare being carried to completion. on 20,000 shares be paid to share holders, absorbing $300,000, and that the balance be carried forward to underwriting suspense account to close the account for the year

1926.

te

note

In this connection it is cheering

Bew that the

British American Tobacco Company fac tory at Keppe, which opened at the beginning of the month, has absorbed a number of the unem- played.

1999- Account;-The balance of working account on "December 31. Among the "schemes which have 1920, was 81,127,629.84 as per annex-been abandoned may be numbered ed statement.

the A.P.C. jetty and oil tanks at Pasir Panjang. The Ford factory at Katong also may be longer in voming than was anticipated.

The Board recommends that an interim dividend of 23 per share be paid to shareholders, absorbing 860,000, and that the remainder be zarried forward,

Directors.

Since the last general meeting, Mr E. J. Davies. Mr. W. L. Pat tenden and Mr. W. H. Bell resigned from the Board, and The Hon. Mr. C. G. S. Mackie, Mr. D. O. Russell

and Mr. J. K. Bousfield have joined

the Board.

In accordance with the articles of Association, Mr. J. A. Plummer and Mr. 3. P. Warren retire, but offer theinaelves for re-election,

Auditors.

RAW SILK.

Messrs. Hornby, Hemelryk & Co. report as follows under date Liver- pool, April 14:-

A further gradual decline in prices has taken place during the past week, and, on balance, values are about sc. to 11c, lower for nears and se, to se. lower for the more distant deliveries.

The market has been disturbed by unfavourable reports from Japan culminating in the reported closure of the Tokyo Stock Exchange, and, of course, the weakness of the restatistical situation, has not im-

proyed matters.

Messrs. Lowe, Bingham and Mat: thews and Messrs, Linstead and Davis, chartered accountants, tire, but offer themselves for election..

-TRADE - SLUMP IN SINGAPORE.

BUSINESS HOUSES

THE PINCH.

re

FEELING

The following comparative statis- lies speak for themselves, and ex- plain to a large extent the recent decline in prices:-

་་

March Feh. March 1030. 1930. 1929.

Bales Bales. Balcs.

THE HONG KONG DAILY PRESS FRIDAY MAY 9 1930.

DOLLAR DROP SEEN DAILY SHARE QUOTATIONS.

HONG KONG STOCK EXCHANGE.

SHAREBROKERS ASSOCIATION.

AS BLESSING.

WILL PROFIT "CHINA IN LONG RUN?

Buyers

Sažera Bale

Nemical)

THURSDAY, *MAY 8.

| Buyers | Bellure

FOREIGN LOANS PROPOSED

AS PALLIATIVE,

A lengthy proposal for the relief. of the dislocated exchange situa tion, brought about by the drop in ailver, has been received by the Canton Government "from. Mr. Wong Yuan Pun, who is travelling in Europe and America on official commission to study finan- cial conditions.

Mr. Wong views the exchange to him, the present exchange will, outlook with optimism. According in the final analysis, profit China a great deal. Foreign imports have shown a decrease by reason of the high prices caused by the exchange, whereas exports from Chins have become more profitable. In these circumstances. Chinese industries are bound to develop to a consider- able extent. Morcovery overBORS Chinese have been remitting con- siderable funds to China in con- sequence of the present exchange, bringing about a surfeit of money in the country.

On the other hand, Mr. Wong remarks, the Chinese Government has sustained big fosses in that China has to meet her foreign loan obligations on a gold basis. These loans were made when the gold ux- change rate was very low.

$1,400

$1,410

で

230

***

£132

8109

До

"C"

ولية

Jounin

191

10.

£3D $18

***

$1,60

$475

Banka

H.K. Banks.............. $1,900 $1,400

Do. (London)...)

Chartered Banks...!

Mercantile Brs. "A"

Bank of East Asia........] #112

Insurancea

Canton Ins................ $875

Underwriters ...... $1,55 North Chins

Union Instaärtuscho $470

M.360 Yangtze Ins...........

China Fires ... $355

#200 H.K. Fires $900

$895

1.100

++

$385

༢

FOREIGN

MAILS

RADIO NOTICES.„

The Radio Office, where full information condersing 'all, wire-, less 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 firms are recommended to register their tele- graphic address at the Radio Office...No charge is made for this.

The Paros Post Service to Kwangai with the exception of that to Wa show, Kweilin and Pinglo, is suspended until further notice.

INWARD MAILS,

FROM

FIX

Dux

T160

*HANG LAL *** STRAITS

Kashgar

9th May

Lahore

9th May

$470

Euro?s via Suaz (Letters aud paperi,

$60

London, 10th April, and parole,

Khiva

9th May

April)

UB.A. Beattle, 13th April), CANADA,

f5hip due 9th, 9 pm.

Shipping

JAPAN, SHANGHAI & EUROPE vil Siberia (London, 20th April)...

Pras. Jackson 1

SHANGHAI & Swarow

$29 Douglases

831

STRATE

#251

Steamboats

$20

Anot & SHANGWAI

843

Indos (pref.)

$50

MANILA

$10

Do. (def.)

$80

STRAITS

95/7

Shell Transports

90/*

BATAVIA

$59

Water-boats

$27

+4

Mining

10th May

Fo

10th May

1th May..

11th May

12th Mar

***

18th May

19th May

18th May

19th May

Chichibu Mars

2th May

88.70

ex div. Tia10

Benqueta... Kailans Langkats (comb.)

Da (single)

T1.30 Exploration....

T5.40 Shanghai Loans ...

વસં

· Abstrawa & Manila

1.3.4. (Bhs Francisco, 15th April,

Honolulu, JAPAN & SHANGHAI - U.S.A. (San Francisco, 16th. Apri).

HONOLULU, JAPAN & SHANGHAI

Seohyurma .. Talamba Tiskarang Pren Pierce Alipors

Fibadak... Taiping

Fras. Taft

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. on the previous day.

38/9

ex div. T

E

$29

Raubs

21/.

Tronoh Mince ******

19/3

Docks, WharvVJE,

'Godowns, etc.

8188 $8

$171 $6.10

H.K. & K. Wharfs... $171

Providents

85,80

170/72 5.90/6. 10

FOR

$39

H.K. Docka"

197

T.135

Shanghai Docks

T.129

Now Engineerings

T8.00

Amey

Swatów, Amoy & Foochow

Haiphong

Manila

Samehui & Wachow

1.76

Baigon.... FM

T.76

T9,70

Mr. Wong proposes that the Chi- nese Customs authorities should adopt the gold standard for the receipt of import duties, and raise the rate of import duties. The Government is urged to contract new foreign loans for repayment of old debts as a relief for the time being, and to invite foreign capital for the development of domestic in-1280 dustries

640

T.8

The proposal has met with the approval of the 'Canton Govern: 13 ment, which is transmitting it to the Nanking Ministry of Finance- for reference.

MENACE OF EGGS FROM CHINA.

EFFORT TO STOP IMPORT TO ENGLAND.

Now that British eggs are be- coming available in increasing quantities and the National Mark has raised act only the home. standard but the standard of those coun- 57,778 68,646 45,919 imported from European

trics, steps are being taken to deal with the low-grade eggs that reach England from China

New York. stocks, all kinda New York stocks. Japane: 44.960 50,661 33,72 In transit: 17,800 24,000 23,000 Visible supply.

Japans :

Visible supply,

-132.000 129,661 - 04.972

Continued trade depression is be. winning to have its effects on the general business community of Singapore, says the Straits Times. It is more far reaching than is com- monly imagined, and several large business houses are reducing their

all kinds... 143,573 140,646 101.218 staffs, having little or nothing for them to do. Among the clerical class Sentiment is mixed at present, the number of unemployed has been but the unfavourable situation in atendily growing and several Japan seems to be coming Europeans who have completed head and appears fairly well dis- their agreements are

not having counted. Present prices are about them renewed.

sa points below these ruling month ago, and we are inclined to have a favourable oninion of pur

Close New York Saturday: July 84.03., September 84.014.. Novem- her $4.02.

A recent advetisement by a big hussiness house for a European was answered by a surprising number of applicants, all of whom were unemployed at the time, or were on the point of terminating their present employment.

chases below the $4 level.

to a

These Chinese eggs are nothing less than a menace to public health. Large quantities are still coming in, and of our annual imports of about £3,000,000 worth of liquid of dried eggs China sends the greater part.

The conditions under which they The are produced are revolting; villages in the Yangtaze "Valley, whence many of these eggs come, are, according to eye-witnesses' necounts, entirely without the rudiments of sanitation, and the birds get their food by roaming through them at will. The water they think is green in the villagers' huts in the most with slime, and the eggs are stored disgusting conditions for consider able periods before export.

These liquid eggs do not find their way into many English households,

Hongkews

Cotton Mills

Eros ......

[T13.10] ex righta

S'hai. Ctons (old)...

Do. (new)...

T.78

T.10 Zoong Sings

Lands, Hotels and, Bulidings

H.F.&B Hotela... $12.30)

H.K. Lands

......... $763

!!!

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

PII

DATE & TIMB

Friday,

Bth,

B.STAN

100 M

Fuempang... Haishing Cantos

Malayan

Prince....

Tui Ming

Helikon

·

Africa, Aden, Egypt & EUROPE vis}|| Kashgar Marie Marseilles, 7th June!

Takliwa

"Kanchore...

Phonghai, "Japan & "EUROPE via Siberia hiva Japan

1

30 M

2.30 F X 4.00 X

4.30

Kowloon Parcels 4.30 *

10th, 9.00 Letters 1000 AN G.R.O.

Par, 9th, si je m riz.,10th,9.45 AM Letters 10.80 ▲ M 18.00 2 2 tarosin

el, 10th, 9,00 ▲

Saturday, 10th,

850 AM 10.00 A 10.00 AM

$133 $154 $13

$77

$76

T.285

Shangbai Lands ` ...

[$104/3

ரகா,

H.K. Realtya...................... Humphreys

#10

#10/1

Calcatta via Straita

$14

ex div.

Chineso Estates

***

那唱牛

Hoihow, Pakhoi & Haiphong

810 $11 $14.50 lex div.

398

Public Utilition

Tramways

Peak Trams (old)....$11

Da.

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

H.K. Electrics $76

Macno do.

Sandakan Liglita ...

Telephones...... $12.75

Do.

9-

4.15 PM

www

Lyndareus

$20

$20.40-$204/

$20

20.30/40

$11 $6,05

Shanghai, Japan, Honolulu and "Saa Francisco de San Francisco, 4th Jane & EUROPE via Siberia

Beg.

Taizo Maru

STOL 3783 $27

(new)... $5 Star Ferries *******

380

Manila ***

Baigon...

8976/6

822

(new).....

$75 $23

$75

$6,30

813!

T.18

China Buses.

10/

Tractiona

18/6

Do. (pref.)...

T.11

Caldbeck, (or)

T.10

"Swatow & Foochow

Amoy

Swatow, Amoy & Formexs

Badgkok via Swalow ...

Shanghai

Japan, Canada, *U.B.A., *C.&*8. America EUROPE via Victoria, B.0,- dae Victoria B.O., Sat May

+4

Shanghai & EUROPE in Siberia

*

Free. Pierce

Pros, "Pierce

22

$16.10 316

$11

***

$8.60

$8.80

4.

$1

81.20

827

swatow, Amoy and Foochow

Australia (except places North of Bris-

bane), and New Zealand via Bingapore ; and Brisbanedas Brisbane, 3rd June

Tjikarang

Parrociu

connecting with

4. Nieuw hol- Lund at S'pore.

41

Straits, Ceylon, Indis, Mauritius, E. & 8.

Africa, Egypt & EUROPE via Mar- Patroclum seilles-dus Merveilles, 11th June ...

Pres. Jackson Ulara Jebren Chip Shing Anking...

Danton Maru Kaigun...

Hakosaki Marsa ...

Letters 5.00P

4 30 PM

4.30 2

5.00 F

5.00 i

Sonday, 11th,

9.00 AM 9:00 AM

Monday, 12th, Parcels 3.007

10,30 ม

4.15 P

ŠEK.

etter 5.00

g. 5.00 PM Letters 8.00PM

Tuesday, 13th,

10.30 M

1.00

***

$5

Another effect of the general

the large Workers in a silk mill in Fushimi, business lackness was

recently petitioned the number of bankruptcies last year, Japan. which is believed to be a record.. management to reduce their month but they are used considerably in 26.10 $20 $26.10

$20 save time and trouble, and are This figure reached the high totally allowances 20 per cent. in order hotels and restaurants, where they $0.80 of 165, for Singapore. When it is that the mill might make up recent- considered that the average for the losses incurred by a dron in the easier to weigh out in fixed quani last few years is in the region of sikk market. The amazed manage.titics. They are used also by pastry-

meringues. the gravity of the present in ment turned down the operatives' cooks, particularly for

request. crease can well be imagined...

AMERICAN STOCK QUOTATIONS.

LATEST WALL STREET PRICES.

The following quotations have been received from their cor respondents, Mesura. Hayden, Stone & Co., of New York, by Mesers. 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.-4,000,000. Call Money,- per cent.

American Smelting Anaconda Copper Baltimore and Ohio

Borg Warner ....

Chrysler Motors

NEW YORK, May 7.

Industrinis

Macgregor (pref.)

Ganton Ices......... Caments (comb.)...

兒子

$16

Do (old)... Do,

#11

Manila

(new)....

88.10

Ropes ....

China Sugara

Malabon Sugars... United Asbestos

Miscellaneous

gin

399

Dairy Farms............

$25

$26

Der A. Winga... Amusementa Constructions

$29

$30

B1.20

31.40 $3.85

$3.90

$3.70/90

making $19

Swatow...

Ohaksang...

84

Shanghal, Japan, Canada, U.9.A, C

Beg.

4.15 PM

Leters

5.00 =

Kowloon P. Q.

Reg.

4,30

5 Lutters

G.P.0,

ABER

4:30

5,00 Letters 8.00 M

Wednesday,

14.

3.30AM

Parcela 5.00

& America & EUROPE vis Yan | Emp. of Canada) couver, B.One Vancouver Bu, 30th May Europe via Biberis

(Thursday, 15th,

Bog.

'9.15 &

Letters · 10,00 AL #

Bandakan

Кольст

Representations have been made to the Ministry of Agriculture to try to get this revolting trade in Chinese liquid eggs stopped.

110

$12

Lane Crawfords

Nanyang Ty *****

·Tobacco...

́811 Binceres (old)........

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

$11. Watsons ******** $2.85 Wm. Powells....... 82

B. Ind. G. Bond... 85% "H.X. Govt. Losa ...

LOCAL AND REGULAR OUTWARD MAILS,

63* 8%

pram.

MOTOR BANDITS SNATCH £1,200.

THEFT WITHOUT LEAVING

THEIR CAR.

Motor-car thieves, variously de- eribed as two and three in number, carried out a daring robbery "in Wellington-street, Woolwich, last month, and escaped with more than £1,200, the wages of the Woolwich Borough Council staff.

Last Dividend...

Latest Sales. 87

54

The money had been drawn by Mr. Alfred Smart, an assistant in the borough treasurer's department,

114

1s

38

City Service Common

30c. A

Curtis Wright Coinmon

None

Enstman Kodak

8B.

Electric Bond and Share

60

Erie Railroad

None.

General Motors

General Ry. Signal

Gold Dust

21

Goodyear Tire and Rubber

Granby Consolidated

28

Hudson Motors ............

*International Cement

International Nickel

Nevada Consolidated Copper

18.

Radio Corp

None

48

Sears Roebuck & Co.

2D

Simmons. Các bạn

3₤

38

Standard Oil Co. of New York

1.00

37

Union Carbide and Carbon

3,60

*

U.S. Rubber

None.

29

United States Steel

Centon

$104

WEEK DAYE,

FOR

From G.P.O.

FROM AHTUNGWA BRANCH P.O.

FROM G.P.O.

SUNDAYS & HOLIDAYS

Fox SHEONGWAN BRANCE P.O.

(7.15 am, & (7.30 £m, &

$7.18 at. & 7.30 am 16.00 pm.

17.00 pm

6.00p.m. Bundays Lp.m. only

7.00 p.m.

57.15 am, & § 7.80 xm, {1.15 p.

11.30 p.m.

8.15 am.

Sundays 2:00p.m. Lonly

(7.15 nm & (†20 am &

1.50 TL 1.18 p.m. Sunday

Sundari 8.30

8,00 p.m 6.00 Ph

L'only

6.00 p

Lonly

6.00pm

6.00 puzz

-7.18 0.2.

9.00a.m.

9.00',

11,0.1,

لكم 300

11.00a.m.

from Barclays Bank, which Bituated about 200 yards from the Macao & Trinshan town hall.

Kongmoon (except Saturdays) 6.00 pan. Kankang (except Saturdays)... Fatahan (By Train)

A bag containing the money was handed at the bank to Mr. W. H. Barton, a council employee, to carry to the town hall, Mr. Bar- ton put the bag on his shoulder, and he and Mr. Smart went up Tuo Wellingtch-street.

Mr. Barton was heater the kerb, and they had just tossed Lower Market street when a salcon motor- car drove slowly close to the kerb, and the bag was snatched from Mr. Barton's shoulders by a man in the

Tai Po ...

Khimchas

Cheungchow

Autan, Pingsbar, Boutin,

The driver immediately, accelerat Aberdeen ed, and the car dashed past the Btanley town hall, and disappeared round a corner. It was subsequently found abandoned at East Greenwich.

Mr. Barton received a wound across the back of the hand, which necessitated medical attention.

7.15 am,

9.00 am. (*9,00 m,& 18.00 pt 10.00 του δε

718.80p.

& 1,80 p.m. Saturdays 1,00 p.m. &

2.00 p

Blatin, Shatankek and Bheangahul

8.00 pm

Balkung...

4.30 pm

Bata, Bhakki ✯ Taiping?

(Fumom)

-7.00p

& 4.30pm

100 pit

10.80 ..

4.00 Patte

7,00

Manila, Australia söd New Zealand via

Thursday Talandque Thursday; Taiping. Inland, 81st May

that

*Superscribed..correspondence only.

Thursday, 15th

1.30

Monday, 18th, Parcels 5.00 2 1 Bég 20th,8,45 ▲ 15 Letters 10.30 AM

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, or

annum post free fo

address in the world.