1930-08-04 — Page 12

12.

Money and Markets

NEW YORK STOCK

EXCHANGE.

BUSINESS ALMOST AT A "STANDSTILL.

MOSTLY PROFESSIONAL.

OPERATIONS.

(UNITED PRESS. 1

TRADE DEPRESSION IN CHINA.

U.S. OFFICIAL'S REPORT.

[UNITED PRESS.] Washington July 26.-Returning to-day from a tour of investigation in the Far East, Mr. Moser, chief of the Oriental division of the U.S. Department of Commerce, said that the major causes, of the Feconomic depression in China were civil warfare, the world-wide de New York. July 23.-Trading on

pression affecting typical Chinese the New York Stock Exchange was products, and the slump in silver. almost it a standstill to-day, says

He said that he hoped for ad. the daily review of the Dow Jonesjustment, through factors which are Financial News Agency

Sales for the day totalled 236,170 beyond Chinese control, with refer ence to the price depression and shares. Call money continued easy the silver decline. nt 2 per cent.

The teadeney of market leaders was to sag slightly, but a rally at the close returned most of the stocks to the previous day's closing. Gains in the afternoon about equalled the losses in the morning.

Activity as mostly of a profes- sional nature, and thus price move ments were of little significance.

Bears Unsuccesatii,

The attack of the bears early in the session was without success.

Dow Jones averages for 20 indus- trials and. for 20 utilities were up, the former by 1.97 to 237.49 and the The Dow intter by 49, to 83.01. Jones average for 30 utilities was off .20 to 133.05.

Among the industrials, U.S. Steel- closed up 2 to 1873 and Bethlehem was up to $31. American Can was up to 131.

Westinghouse was up 1 to 146. General Electric

was up an eighth to 713. Eastman Kodak gained 37 to close at 213.

1)

Slight Gains in Utilities, Slight gains were made by several utilities including American Tel. & Tel., up to 216; International Tel. & Tel, up half a point to 48; Columbin Gas, up to 034; Stan- dard Gas, up 1 to 841; and Public Service of NJ., up "a quarter to 044.

Pennsylvania Railroad gained to close at 76; New York Central was eff half a point to 165; Union Pacific was off 1 to 2213; and B. & O was up half a point to 106.

CLAIM AGAINST CHARTERED

...BANK.

HALF-MILLION YEN DAMAGES

ASKED FOR.

Mr. Ryclaro Iunter, representa tive of Messra Hunter & Company, 12, Kawaguchi-cho, Nishiku, Osaka, through his attorneys, has filed a suit with the Kobe District Court against the Chartered Bank of India & Australia, Kobe, demand ing payment of Y500,000 and also a public apology in the Press. The plaintiff complains that the defen- dant bank, through its unwarrant able action, has caused the plain- tiff's credit to be destroyed. Hence

the demand for redress..

As far as the first cause, civil warfare, is concerted, in the opin ion of Mr. Moser the Chinese them selves must find a solution because this is an entirely internal problem in which outsiders can give no as-

sistance.

Mr. Moser found other "Oriental countries making what he termed remarkable

progress. (This is especially true of Japan, he declar- ed.

AMERICAN TRADE WITH

CHINA.

INQUIRY TO OPEN IN U.S.

[UNITED PRESS.]

Washington, July 25.-Senator Key Pittman's sub-committee of the Foreign Affairs Committee, np- pointed to study conditions relat- ing to United States trade with China, will open its hearings in Washington on August 8, it was announced today.

Members of the sub-committee will later go to the Pacific coast to continue the bearings.

The first witness in Washington will be Dr. Julius Klein, assistant Secretary of the "U.S. Department

f Commerce...

JAPAN STEEL INDUSTRY.

PLANTS TO CONTINUE CURTAILMENT.

HONG KONG DAILY PRESS. MONDAY, AUGUST 4, 1930.

OIL DISCOVERY IN MANCHURIA.

SUPPLY SUFFICIENT FOR

40 YEARS,

DAILY SHARE QUOTATIONS

HONG KONG STOCK

EXCHANGE.

SHAREBROKERS. ASSOCIATION.

Bayar

Balers

(Calm │Nominal'

SATURDAY. AUGUST 2.

Bayoca Ballara.

A larga petroleum mining area measuring more than 300 square h, the oil supply of which is said to be sufficient to last at least 50 years, is reported, by the Chinese $1,816 press, to have been discovered at a place about 20 li to the west of Dalainer, Manchuria, on the Chiq- ose Eastern Railway

The mine was discovered prior to the death of the late Marshal Chang Tso Lin. by Mr. Chao Tsung Jen, a former Commissioner of Foreign Affairs, who found that the oil produced there was oi.o very good quality and who submitt ed a proposal to the late Marshal Cang for the development of the place. The proposal was approv ed, but the scheme was held up on account of Marshal Chang's death.

Russian Application Rejected. Recently, a number of Russian bankers in Manchuli sent repre sentatives to the mining area to make investigations and, as a re- sult, they approached Mr. Chao with the application to be allowed to undertake the development of the mine which would be returned. to China unconditionally after 20 years.

The Heilungkiang Provincial Government learnt of this and or- dered Mr. Chao not to enter into any contract in this respect with the Russians so that China's sover- eignty might be preserved. As it i, desired to keep this place under Provincial Chinese control, the Bureau of Agriculture and Mines has been ordered to raise funds to develop the mine.

مري

JAPAN SUGAR CRJP:

OUTPUT PREDICTED FOR »

1930-31."

לו

The Japan Sugar Dealers' Asso- ciation has announced that the sugar crop for 1930-31 will reach some 12,940,000 piculs, which will be some 350,000 piculs less than the actual crop of 1999-30.

As to the reason for such an un- favourable estimate, the Associa- tion says that each company has abandoned the fields which need too large operation funds, intend-. ing to conduct plantation of the profitable fields only, which re- quires small funds, making the estimate temporarily less than in 1929-30%.

INDIAN DEALERS DECLARE

No definite sign of improvement of the market situation being yet seen, the steel manufacturers affi- liated with the Japan Steel" Pro-

INDEFINITE HARTAL. ducers' Association at their meet ing on July 23 decided to continue

Bombay, July 24.-The Native the output curtailment, maintain- ing the rate at 50 per cent. as Piece Goods Association here has an indefinite previously, until the end of August. decided to declare a hartal begin-

They also agreed that they wining July 26 for further increase the rate if the period to protest against the repres sive policy of the Government. It market hereafter becomes

is understood that the Association than at present.

hitherto imported foreign cloth, predominantly British. worthing £15,000,000 annually.

worke

The steel production during June, according to the report made by the committee at the meeting, was cver 35 per cent, of the average for the previous years, despite the practice of 30 per cent. output

EXCHANGE RATES:

(BHITISH WIRELESS SERVICE.]

Fearing that the plaintiff might curtailment, conceal his property because of his i debts of Y1,034,920,82, and also his heavy debts with other Japanese and foreign banks-which the plain." tiff contends was an entirely un

defendant warrantable fear-the bank is alleged to have had the plaintiff's property attached February 4, 1830. The bank is also alleged to have had plaintiff's other property attached likewise.

On account of these actions" on the part of the bank, the plaintiff declares that he has suffered seri- ous damages in property, and also that as a result a bank in London has, now refused to have any fur ther dealings with his firm.

THE SILVER MARKET. LONDON BROKERS REPORTS.

London, July 24.-Bar silver, which has been steady for some time, fell by 1/16 to-day. Whe quotations for sach and forward deliveries were 16d fat and 15d. 7/3, respectively.

Messrs.. Mocatts & Goldsmid and Messrs Samuel Montagu & Co., leading silver brokere here, com- ment on the silver stiuuation Re follows:

Mocatta and Goldsmith's Report.

very The market has been atsady, India has been the chief operator buying both for imme dlate shipment and to cover sales, but resold a small amount.

"China has not been very active. and has gonerally been inclined to aell at anything over the current rates."

Samuel Montagu's Report. The market was quiet and prices Anetrated only within narrow

·limitat, manage

Going account.bara, been more restricted, sellers being. disposed to limit their offerings to slightly higher rates, and although America sold most days, the mo derate demand from the Bazaars served to maintain a steady tone. The market presents no new fea tures and there is no indication at present of any marked change.

RuGsy, August 1.

193.81

Paris New York Brussels..... Geneva Amsterdam Milan Berlin Stockholm Copenhagen Osla Vienna

1.87 3/13

04.80%

23.001

12.00)

93.01

90.38

18.10 18.16

18.10)

34.45

1,64

1935

43.15

1081

Bucharest

-618

Athens Rio

375

5.1/18

Buenis Aires Bombay

401

Shanghai

1/52 1/8

1/3

Prague Helsingfors

Madrid

Lisbon ....

Hong Kong

Yokohama Silver

Spot -Forward

Paria

New York Brussels Geneva

→ Amaterdam

2/0 11/32

18

13.15/16 Rubay, August 2,

123.82 4.87 5/32 -34.803

25.08)

12.09

Milan Berlin

02.09

Stockholm

18.10

Copenhagen

Oslo

Vienna

18.18 18:10 34.44

Prague

1641

Helsingfors

1903

Madrid

43.60

Lisbon

1081

Bucharest Rio Buenos Aires Bombay

818

Shanghai Hong Kong

Yokohama Silver

Spot Forward

EX-PREMIER OF LITHUANIA,

DANGER TO PUBLIC ORDER.

[TOROUGH REUTER'S AGENCY.]

RIGA, August 1.

1.160 $497

3400 $965

!!!⠀⠀⠀

Juur

3440490/37

Banks

H.K. Banks

Bales

Momius)

31,515

Unital Kingdom and British Posse

sions and Protectoraten 199 Macao***

£16

£12)

€39

ZLOT £178

Do. (London) .......... Chartered Banky ...

LON £191

Mercantile Bks. "A"

...Do. ""0"

#19)

Bank of East Asia.....|

$113.

Insurances

8945 Canton Insurances...

$940

32.63 Underwriters

#270

WHE

North Chinaa.............

T180

Union Insurancon .......) §-437

M800

-$60

31/3

Yangtaze Insurances

China Fires] $200

HK Fires.

Shipping

JULO

40 i

3818::

FOEIGN MAILS

RADIO NOTICE:

Individuals and firms are recommended to register their tele graphic address at the Radio Uce. No charge is mads for this The following rates of postage ars now being charged on latters (other than postuards) addres e i to the following destinations-

Rais of Postage- ....3 cents for sash, os, or part of an or

Destination

Places in the Colony

Ext

...8 cents for each oz, or part of an oz.

China propor, excluding Sinklang,

Mongolia and Thibet

Foreign Countrios generally

-

4 cents for each on, or part of az oz.

14 cents for the first oz, and S conti ...for each additi nat oz. or part of an oz.

The special rate of 3 cents parcza: on now payers published in the Colony and addressed to Hong Kong, United Kingdom, British Possessions and Protectorates, Chlas and Macao, has been abolished ant the rate of 2 cents per 2 ozs, suostituted therefor.

Circulars for addresses in the Colony or Wei Hai Wei, which are posted in batches of not less than tea of uniform sias and weight, and whion are posted by being delivered to an officer of the Post Offee, are now charged pontage at the rate of 2 cents for each å oss, or part of 2 024, instand fi sunt per 2018. sa heretofore.

GENERAL HOLIDAY.

"

On Monday, the 4th inst., the G.P.O. will be span from 3 a.m. to noon, Kowloon Post Ufo, froth am to 11a, and other Branch Post Offices from

Bam. to 9 a.m.

G

There will be one collection from the pillar boxes, and one dalivary of ordinary correspondence sa on Sundays, and one delivery or registered corres- pondeuca at 9am.

The Money Order Offics will be entirely closed..

•

INWARD MAILS.

Pra

Doz

$26

Douglases

...........| $154

Steamboats

325

$43

Indos (pre) ******

The

$10

Do. (def.) ***b****

...

95/7

Shell Transports ...

98/3

$32

Water-boats

Mining

Benquota....

Kailans

FROM:

Langkats (comb.) .......{

T14.40

Do. (single).n

37.10

Explorations...

T.1

**T8

·Shayohat' and EUROPE vis SIBERIAĮ

8:3

(London, 14th July)

Tronoh Mines |

91/-

CALCUTTA and SexaÏia

Nom dang

SANDAKAN

Tjilwong..

MANILA

SHANGHAI and EUROPE via SIBERIA

(Londou. 17th Jul;).

Aeneas

***

$1721

SHANGHAI and Axor

$3.35

+39

STLANIS

HATAVIA

T1.30 T.61

20

$2231

***

Providents.assatuaren

31711 $6.34 54

T.124

$39

T.7

New Engineerings

Hongkews

$11)

$11

$831 8841

$16)

987

$8.00

17.38

$10.0

77/78

Shanghai Loans

Raub -་***ན་ས་བ་ནན་

Docks, Wharves,

Godems, sto...

H.K. & K. Wharfs...

HK. Docks

Shanghai Docks ... 1.115

Lands, Hotels, and

Buildings

H.K. & S. Hotels...

H.K. Lands....... 3837

290 Shanghai Lands"...

H.K. Healtysmussen

Humphreys ***** 315.40 $15.75 Chinese Estates

Cotton Mills

_zyonu-paruernseye T11.25 S'hai. Cottons....... 1.77

Zoung Sings uman† 1,9

Public Utilities

Tramways.

Peak Trams (old) imf size

Da (new)... Yo

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

Do. (new)......

Macao do. $13

ar div. 32.10

Sandakan Lights .... Telephones (fully pd.)

(part pd.)) $29 Do. China Buses.********* Fractions

TEL.S0

T:78

++

T.9

$191

$12

Ewos

#19.50

***

!!!!!

!!!

#g!!

Fogtländ

4th Aug.

4th Aug.

4th Aug.

4th Aug,

|

5th Aug.

6th Aug.

5th Aug.

5th Aug,

6th Aug.

6th Aug.

6th Aug.

7th Aug.

8th Aug.

8th Any.

Pres. Garfield

Empress of datpen

Pres. Grant Tanda...

10th Aug.

11th Aug."

Aug.

STLIZE

***

USA, HONOLULU, JAPAN and Shang.

HAI (San Francisco, 13th July) Jarax and SHANGHAI SHANGHAI

U.S.A, HONOLULU, JAPAN and BHANG

HAI (San Francisco, lith July) CANADA, USA, JAPAN and shaxonal

(Vancouver, B.O., Zatn July) .. U.S.A., HONOLULU, JAPAN nad SHANGHAI

(Ban Francisco, 18th July) "Apstrata and Mamua c

Fres, McKinlay.

Bingo Mara Tyskarung... Oremer

-

Melbourne Marucak|| Tisbadak... Borda....

Shinyo Maru Baruna Maru Alderamin

OUTWARD MAILS,

REGISTERED and PARCEL MAILS are alosed 15 minutes earlier than the time given below unless otherwise stated, and where mails are advertised to close at or before » a'm, registered and parcel mails are closed at §. p.m. on the previous day..

Date and Tim®

Star Ferries 820

HK. Electrics. 878

$78

Тарал

Canton Less $2.95

FOR

PER

11th Aug.

Monday, 4th,

Korea Maru

Pres. McKinley

Shanghai, Japan, Canada, U.S.A., 0, and

. America and EUROPE vis Vic. toria, B.C.-due Victoria, B.C, 2nd | Augurt, and *EUROPE via Siberia.. Bangkok via Swatow...

Lalgan

8/9

Amey and Foochow

Sustom"..

Shanghai and Japan

Saigon and Mauritius

Swatów, Amoy and Foochow

18/.20

3111

$29

$21.66 ex dir,

1181

107-

***

18/B

Do. (pret.)...

Industriala

T104

Caldbeck, (ord.)

Tu40

Macgregors pret.)

$18.50 $18.20

$24

8131

Cements (comb.)...

Do

(old)...

Do..

(new)...

$10.99

31

240

827

Malabon Sugara

United Asbestos...

Miscellaneous

Dairy Farms

Der & Wags..........res

Amusements *** $26

310

Chin. Entertainm'ts,

31.90

Constructions

$1.90

$184

136

The Prosecutor of the Supreme $26.15 $26.30| Court of Lithuania has announced #1 that criminal proceedings will be re-opened against the ex-Premier. Voldemaras, who was recently de- ported by the Commandant of Kevno on the ground that he was a danger to public order.

He will be charged with misap- propriating 50,000 Danish kronea. The original charges date back to 1921, when Voldemaras was nego. tiating with the Danish Govern- ment at Copenhagen.

It is alleged that he did not ac- count satisfactorily for the expendi- ture on his mission. Proceedings were instituted at the time but thes, were postponed.

Since bis removal from Kovno recently Voldemaras is reported to be suffering from nervous depres

It is also stated that he is sion, sow living in a hut in a village

# with a priest.. ⠀

[Voldemaras formed the

first Lithuanian Cabinet at the end of the war and in successive Govern- menta he retained the portfolio of Foreign Affairs until June, 1990. Since 1921 he has taken less active part in politics, devoting himself to journalism, and on the formation of Kovno University he became a professor.]

Convicts at Nottingham Gacl are being paid for working in the various "shops." This prison ex- periment has been kept a secret for eighteen months. The maximum wage is ls, éd. a weeE Part of this has to be saved, but the remainder jam, newspapers, and other articles *6*1718---| Kilowed by the prison governor. 40 13/32 Sine the experiment began the out put of work has increased seven times. It is hoped by the scheme to lessen the cost of prison upkeep, to teach the convicts a trade, and to provide them with money to live on while waiting for a job after their release.

1/50 1/01 1/3 2/05/16-

157

16 13/161

$%

pram,

Hopes

China Sugars.ncearens

Lane Crawfordi “......... lackintoshsiz Nanyang Tobacco...

TRENI

8,80 AM

Parcola 11.00 M

Beg. Letters

1.00

11.15 A

Noon

Noon

Chenan

Noon

Hydrangea

8.00 M

Tuesday,

5th,

Yokohama Maru Tinhow Huiyang ..

8.90 ▲

9.50 A

Kowloon F.O.

dencas

Reg. Letters

1.00 PM

1.00 M

O.P.O..

Beg

-1.45 = =

Lottore | 280 pa

Blinkrang

8.30 PM

Beg

410 7 N

felbourne Maru

Letters 5.00

6.00 PM

Straits, Ceylon, India, Mauritius, *E. ani d. Africa, Egypt and EUROPE via Marseilles-dus Marseilles, 5th Sept.

Shanghai

Manila, Australia and New Zealand via Brisbane Brisbane, 19th August, Straits, East Africa via Mombasa and Bouth Africa vis Lourenco Marques and Bouth American Ports Foochow, via Swatow...

***

Bingo Mars,

Chip Shing

5.00

Wednesday, 8th,

8.30 AX 10.30

Noon

1.00 7 V

3251

Amoy

Bwstor

Bwatow

**

Manila and Java vis Bourabays

5.00 px

6.CQ

Namang... Cramer

Hopsang

Tyskarang..

¡Parzeda

Straits and Calcutta

Kumiang

Letis

$12

B. Ind. G. Bonde... H.K. Got Loans...

51%

$108

Foochow via Swatow Shanghai, Japan, Canada, U.S.4. C. and 8. America and *EUROPE via Van- couver, B.C.--due Vancouver, B.C.. 22nd Aug, and Europe via Siberia...

Buschen Chipshing

12 30 P

$11.3 Sinceres (old). 8.1

Do. (new) **** Watsons $121 82.55 Wm, Powells..... 61.

AMERICAN STOCK QUOTATIONS.

LATEST WALL STREET PRICES.

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

Tons of Market Steady... No. of Shares done-1,250,000 Call Monsy-2 per cent.

American Emelting. Anaconda Copper Baltimore and Ohio Borg Warner Continental Oil City Service Common Curtis Wright Common Eastman Kodak

Electric Bond and Share Eric Railroad mildiri General Motors General Railway Signal Gold Dust

Granby Consolidated

New Yox, August 9, 1930.

Swatow...

Wei Hai Wei via Bwatow and Foochow Swatow, Amoy and roochow Shanghai

Btraits, Ceylon, India, Mauritias, East and South Africa, Adan, Egypt and EUROPE vis Marseilles-due Mar seilles, 7th September

Emp, of Japan

Kueichoro... Hai Ning... Feinan

Haruna Mar

Bouth Afrios, Aden, D'.

·5,00 »

Parcels 5.00 K

Chursday, 7th,

Blog.

9.15AM

Letters 10.00 a'M

Friday,

8th

10.80 à

12,00 × 10.

8,30 K Howloon P.U. Beg. 4:30 14: Lottern 43901 = G.P.O. ||Bag,+6,00 2 m ||Letters : : 8.00 x, D

Sunday,

10th,

Last Dividend.

Latest

Antung

8.30 Al

Sales.

"Amoy

4

67

Hoihow, Pakhol and Haiphong Bangkok via Swałow a

Teams

8.30 AM

Kiang

9.00 AX

3.80

7

104

Tuesday, 18th,

3

Kowicon P. O.

None

Baigon, Leylon, India,

Mauritius,

Box

30c, A

None

3B

None!

41

45

East and Egypt and EUROPE via Marseillon --dus Marseilles. 18th September Bwstow, Amoy and Foochow... Manila

1.00 Letters 1.00

4.2.0.

Beg.

Hatching... Empress of Asia

Missing

Sandakan

-Goodyear Tire and Rubber

International Cement

International Stoker

Montgomers Ward an

Nevada Consolidated Cop

Radio Corp

None.

Bears Roebuck & Co-

Bimmons Caliber

Standard Oil of New Je

Standard Oil Co. of New York

1.60

32

Union Carbide and Carbo

2.00:

United States Rubber; United States Steel

Misaid

160

Birgite Cerion, India Mau

and South Africa, Adan. KUROPE via Marseill selline, 13th September

Mar.

Hinaang-

ribed.

only.

¡Lofters 280 2,m

1.00

8.30 T.

Thursday, 14th

10.3).

Friday, 15th,

Kowloon P.O... Pawalk £30 z Beg 16th,9.00 am

Par1515,5.00 m Reg,16th:945 am

1080