1930-08-05 — Page 12

12

Money and Markets

GOSSIP FROM THE SHARE MARKET.

PRICES STILL ON THE DECLINE: JULY

SETTLEMENT UNEVENTFUL.

FREE ADVICE FOR INVESTORS.

[BY KUFAN."]

Gossip often moves the market, but no investor should either buy or sell on market gossip only.

The steady downward tone of the market which has been noticeable lately continued during the week under review.. While it cannot be said that, there was little doing" on the Rialto, it can be said that there was little improvement in quotations generally,

The July settlement, heavy though it was, passed off without a hitch, which is extremely gratifying. A few atocks registered a momentary rise on the eve of settlement day, but fell away again immediately the settlement was over. This is explained by the fact that the "shorts" had to cover their posi tion, but, with quotations on the weak side, they had a comparative ly easy time.

At the time of writing the general feeling in the market is that there will be a further decline in rates during the next few weeks, and, taken all in all, I must express agreement with this view, as, except in a few cases, the current. market quotations, in spite of the recent fall in prices, are stilin

flated.

HONG KONG DAILY PRESS, TUESDAY, AUGUST 5, 1930.

NEW YORK STOCK DAILY SHARE

EXCHANGE.

WEAKNESS IN RAILWAY STOCKS.

BELIEF IN A TÈCHNICAL · SETBACK.

[UNITED PRESS.]

New York: July 29.-Weakness in the rail stocks on the New York. Stock Exchange to day brought

HONG KONG REALTIES came declines in the other groups, says the daily review of the Dow Jones to business at 39.

Financial News Agency.

*

HUMPHREYS-Sellers are pleati fal at $13.70, but buyers' ideas are quite different. About $13.25 might be paid.

EWOS appear to be very steady at the moment, and I understand buyers are offering as much as Tls. 113 for shares, but no sellers np. pear to be in the market.

business.

|

The rail average on 20 selected 132.49. Issues- 'declined 1.59 to Several loading rails, supplemented by other leading pivotal stocks, de-. lined with U.S. Steel which closed off one point to 1673. -

New York Central was down 1 to 164 at the close. Pennsylvania CHINA LIGHTS have once again figured prominently in the week's was off to 76. Erie was off to At the opening of the 11 Union Pacific alumped eight week a fairly large number of points to 213. Canadian Pacific was shares were taken up for eash at one of the few gainers, closing up $2.25 to $28.50, but the bulls a quarter to 150. Rock Island was apparently could not maintain their off 5 to 10. B. & O. was up an position, with the result that prices feighth to 1081. dropped speedily. At the close of the week the Stock Exchange quot-

Many traders unloaded their hold- cd 823 buyers, while the Share- brokers Association could do noings on the theory that a technical better than stick the shares in the set-back is due. Sales for the day amounted to a total of 1,949,380 shares. nominal column at 825.50.

*

CEMENTS were sold during the week at $16,20, ut buyers were only offering $17.90 at the close.

CHINA PROVIDENTS were on the easy side, and could be had at $3.35.

*

HONG KONG ELECTRIOS are very steady, with buyers at $78. During the week as much as $78.25 was paid for shares.

HONG KONG TRAMES-There i

has been some inquiries for Trams, Investors, but in sympathy with the general decline in rates they have dropped to $10.50, and at this rate all in- quiries can be met.

The fallacious belief that prices must continue to go up. so long as money is plentiful in the Colony is, I am happy to say, gradually going out of fashion, and, in a few cases speculators (not to say manipulators) are picking are absolutely out stocks that "blown," and leaving them seri- ously alone. This is a healthy sign, and, if I may say so, is a sign of sanity.

T

HONG KONG BANKS-Only very small business was recorded in this stock during the week.. At the lose there were a few small

burers in the market, offering

$1,315.

UNIONS are wanted at 8437. 1 heard of a big parcel of shares being disposed of locally which was offered from one of the Northern ports. The demand for this stock leads me to think that during the present week we should see higher prices, possibly $440 or $445,

UNDERWRITERS CHINA There appears to be no inquiry for this stock, which has been quoted for some time at $2.70.

*

$23.15.

*

HONG KONG ROPES-These shares have eased off somewhat, and at the close there were sellers of cash shares at 811.

Holdings Unloaded,

QUOTATIONS

SHAREBROKERS! ASSOCIATION.

HONG KONG STOCK EXCHANGE.

Bayes

SATURDAY. Saller Bales Nominai *AUGUST 2.

Bayere Aailers

Dalis Nominal

SEXJA

!!!

Banks

H.K. Banks

FOREIGN

MAILS

RADIO NOTICE:

„Individuals and firms are recommended to registar their tele graphic address at the Radio Office. No charge is made for this.

The following rates of pistage are now being charged on letters (othar than postcards) addressed to the following destinations --

Bata of Postuga

...3 coats for each eä, or part of an cz.

dr

•

Destination

Placor in the Colony,

$1,515

United Kingdom and British Fossa- Į

Do. (London)

17

Chartered Banks

sions and Protectorates Macso

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

我香

Mercantile Brs. "A"

Do

£161 489

"0"

£121

#191

E

Bank of East Asia...!

3113

Insurances

$945

Canton InsurancOS.

$940

31.65 Underwritera

$2.70

1.160

North Chinas, ............. |

T160

8437

$400 9955

$440439/37

Union Insurances... 7

M.850 Yangtze Insurances

***

$60

China Fires

$10

FLK Fires...

326

$25

***

IIMIN

Skipping

Douglases...

Steamboats

Indos (pref.)

143

$40

Do. (det)

85/7

Shell Transports

Water-boats

$32

$2

31/3

T.8

T1.30 T8)

$231

**

៖ ៖ ៖ ៖

8171)

$6.84 85

T.124

The oil group was week despite reports of continued curtailing of production, with Standard Oil of New Jersey off 18 to 734. Standard of New York holding at 323. Texas T.260 Corp. off half a point to 59, Con- tinental Oil off an eighth to 211 and Phillips Petroleum off to 33). The Dow Jones average for 30 industrials was off 241 to 258.40. Bethlehem Steel was down 1 to 83;; American Rolling Mill was off 1 to 501 American Can was off. 1}; to 1591; Du Font was up 21 to 117 and Eastman Kodak was up a point to 211.

.

Amasement Stocks Steady,

The amusement stocks were steady, DAIRY FARMS have buyers at with Warner Bros. Pictures up haif a point to 391, Fox Film "A" off 4. to 47 and Paramount-Publix Corp. was off to 601.

The Dow Jones average for 20 was ap 16 to 88.80. American Tol, & Tel, was off 2 to utilities 216 at the elose, but International Tel. & Tel: was up an eighth to 474, Radio Corp. was off to 442. Consolidated Gas was off an eighth to 1123 and Columbia Gas was off 1 to 63.

*

-

HONG KONG AMUSEMENTS changed hands at 826.75 and buyers are offering half a point less for eash shares.

CHINA FIRES are still wanted and at $400.

*

*

HONG KONG FIRES are re- quired at 8950; but none seem to be offering Buyers are not offer ing fancy prices for these shares, although the demand is still strong.

have improved, DOUGLASES slightly and there are buyers now 823.50 for offering as much as

Even this rate does not shares.

While seem to attract sellers." there is a brisk inquiry at present, I do not anticipate any sustained demand.

STEAMBOATS have recovered their position wonderfully, and during the week there were buyers offering, as much as $25. Towards the close a few shares were offer- ing in the market at this price, and these 'ho doubt will be duly taken

up-.)

STAR FERRIES stood at 888

during the week, but not much business was put through, although! the inquiry for shares was very persistent.

HONG KONG & KOWLOON WHARVES-Following the settle- meat this stook strengthened to $171, but later shares were taken off the market at as high a rate as #172 to 8172.50.

REPLIES TO READERS.

column

Call money remained at two per rent..

QUOTATIONS.

New York, July 30.

839

!!!!!!

Mining

Renquets..

Kailans LONGWAY

Langkata (comb.) ...

Do

(single)

Explorations...emeen Shanghai Loans Raubsr Tronah Mines .............. Docks, Wharvey,

Godowns, etc.

H.K. & K. Wharfs.....

$950

18:1

194

China proper, excluding Sinklang,& conts for each oz, or part of an oz.

ผู้ Mongolia and Thibot

...for each additional-oz, or part of an oz.

Foreign Countries generally

f14 cents for the first oz, and 9 seats

The special rate of onts per 4oza on newspapers published in the Cology and addressed to Hong Kong, United Kingdom, British Possessiona aud Protectorates, Coins and Macao has besa abolished ani the rate of 2 cents per oak, saostitated therefor.

Ciralam for addresses. In the Colony or Wei Hai Wai, which are posted in batches of not less than ten of uniform size and weight, and which are posted by being delivered to an officer of the Post Ofica, are now charged postage at the rate of 2 cents for each 2 ozs or part of oat, instead of 1 cont per 2 cas. as heretofore.

INWARD MAILS.

PEB

·DTL

FROM

$35)

925

$43

8-10

98/3

831

(London, 17th July)

JAPAN...

SHANGHAI And AxOT

1+

Shanghai Docks ... T.118

Hongkows

H.K. Landa. $831

UNION

T1440

$7.40

SHANGHAI" and Eunors via SraERIA

Aeneas Bingo Maru Tiskarang..

SILAZIO

JAPAN ROS

BATAVIA

STRAITS

-

Borda

Shinyo Maru

Aldèramin

5th Aug.

5th Aug.

ath Aug.

ÜremeTMTMTM

5th Aug.

Melbourne MarH...

5th Aug..

+4

F

Tjibadak...

6th Aug.

VAL

6th Aug,

U.S.A, HOXOLULU,

APAN and SHANG= }

TI

RAI (San Francisco, 19th July)

7th Aug.

Haruna Maru

8th Ang.

Japan and Shanghai

T6

8th Ang.

SKANGHAI

U.S.A, HONOLulu, Japan and BHAND

21/

Pres. Garfield...

10th Aug.

Empress of Ani...

11th aug.

Pres. Grant Tanda

11th Aug. 11th Aug,

**

$23

SITEL

$5.33

$39

8.0.0

Providents ..........................

H.K. Docksm

T.

New Engineerings

17.35

Lands, Hotels, and

Buildings

3111 $11

H.K. & S. Hotels...

$831 38.90

8841

Shanghai Lands...

H.K. Realty's

3161

Humphreys

$15.40 $15.75

387

Chinese Estates

Cotton Mills

EWOR

T11.25

T78

Shai. Cottons.........

71.9

Zoong Singa

19

Public Utilities

T11.30

11

זף יו

Tramways

Peak Teams (old).....] $124

Do. (now)... $6 Star Ferries 885

U. Lights (old).------

Do.

(new)...... H.K. Electrica....! Macao do.

$19.50

!!!!

! ፧ : ! !

MAT San Francisco, 11th July}.

CANADA, U.S.a., Jazan and sanasai į

(Vancouver, B.C., Satu July)... U.S.A, HONOLULU, JAPAN and Shanghai

(an Francisco, 18th July) ADSTRAWA and Mania

+4

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 a.m. registered and parcel mails are closed at 5 p.m. on the previous day.

FOR

Saigon and Mauritius „

Swatow, Amoy and Foochow

Prie

DATE and TIMB

Tuesday,

5th,

Tinkow

9.83 AM

1.00 M

Aeneas

Binkang

Kowloom P.0. Rog, ...Litera 1.00 M

1.00 PM

G.P.O.

Bog 1.45.

•

Lattari 3.30 PM

1 8.30 F

Beg

4.15 PM

Straits, Ceylon, India, Mauritius, *E. ani) 3. Africa, Egypt and EUROPE vis Marsoiitės-dus Marseilles, 5th Sept.

Shanghai

Manila, Australia and New Zealand is Brisbane-ine Brisbane, 19th August Straits, Fast Africs via Mombasa

Bouth Africa via Lourenco Manquos and *South American Porta... Foochow via Swatow

Melbourne, Haru Letters 5.00

Bingo Karm

Chip Shing Nathang... Oremor

$191

$121 $8

.$88 $25

$25+ $264 $21. 877771/78

225

$78

$78

Amoy

$93

Sandakan Lights

Bwałow...

ex div. 332.10

Telephones (fully pd.)

$21.65 ex

T.18

div.

Do. (part pd.) 812

China Buses******

10/

Tractions

kot

18/8

105 106 $25.16 $25.30|

00185

Do. (pret.)----

Industrials

T.io Caldbeck, (ord.) T10.40 Macgregor prof.) Canton Icsa $2}

Cements (comb.).....t

Malabon Bugara ...........

Dairy Farmsaparen

8/9

4

$29

B.COM

5.00

M

5.00 M

Wednesday, 6th

8.30 AM

Hoping Tjikarang...

10.30 AM

Kumaang

Parcaln Lattern

Noon

Brechnen... Chipshing

1.00 P 12807

Parcala

Emp. of Japan

Reg.

5.CQ-

5.00 2

Swatow

Manila and Java via Sourabaya

Straits and Calcutta

Swastow

Foochow via 8watow

Shanghal, Japan, Canada, U.S.A., C. and

9. Amerion And EUROPE via Van-. couver, B.Odne Vancouver, B.C., 2nd Aug, and Europe via Siberia.

Wei Hai Wei vis Swatow and Feochow Swatow, Amoy as roochow Shanghai

Siraita, Ceylon, India, Mauritius, East and South Africa, Aden, Egypt and EUROPE via Marseilles due Mar- sailles, 7th September

Kusichow... Has Ning... Trinan

Thursday, 7th,

9.15 A

Letters 1,10.00 AM

Friday, 8th

2,00 N

5.30 xx Koseloon P.0.- Bez. 4.80 M Letters 4.30 ► » ·

Q.P.0.

¡Reg. 5,00 em

Letters 6.00 P

Haruna Maru

10.80%

$251

Sunday, 10th,

Amoy

Hohot, Pukhoi and Haiphong

satung Tean Kiangali

8.80 6.90

9.00

Ca

***

$18.30 $18,20

18/.20

$134

Do

(old)**

551

Do.

(DOW)...

$10.90

Ropesy

China Sugars.......]

215 216 245 246

$37

United Asbestoa

031

51

***Miscellaneous

38 37

842 83

Der A. Wings:

$1

20 30

181 161

$26

Amusements - $28

$10

Chin. Entertainm❜ts.

16

$1.90

Constructions******

.109

83

Lane Crawfords ....

-$1,90

$3

81

301

201 29

$18

www

6a+ 65

Nanyang Tobacco...

Do. (new):

Saigon,

$124

Watsons

312

$2.85 Wm. Powells

$21

prom இக*

81, B. Ind. G.8 Bonds..

H.K. Gort. Louis

617

81081

1141 117

... 910.211

*85

International Harvester

International Nickel

$1

International Printers Ink

48

47 International Products Com,

Every week in this "Kufan" replies to correspondents who may have questions to put re- garding the prospects of any stock

Market irregular. quoted in Hong Kong, Shanghai

Business done, 1,849,590 shares.

July 29 29 or Singapore. Questions regarding

271 271 Adama Expresa ... principles, practice, and custom can

American Can.....

134 1321 also be dealt with.

Foreign Power

751 701 Correspondents are asked to fill Americas

571 801 up the coupon appearing, elsewhere American Rolling Mill...

68+ American Smelting address their queries to "Kufaa," care of the Editor of American Tel. & Tel.

American Tobacco B** this paper, and to give their names

American Wa

Waterworks... and address. It is desirable that Anaconda Copper a nom de plume be also included, Atlantic Bering in order that readers can readily Baltimore & Ohio identify the answers intended for Bethlehem Steel

Borg Warner them.

Calumet & Hecla Every effort will be made to give Canadian Pacific Railway

Bock Island Chica as fuil and detailed a reply as possible, but no responsibility what ever is admitted by the writer in Cities Service Common... Columbia Gas Electris so doing.

Columbia Graphaphone Those who have written for in-

Commonwealth & Southern ... formation laat week will find an-

Commonwealth & S. Warr. Consolidated Gas of N. T. swers to "their queries below:-

Continental Coproducts ELLWOOD-1 and -Regret can-

Carn' not answer your questions off-

Curtiss Wright, Common hand; but have communicated Du Pont de Nemours with Shanghai and will reply in Eastman Kodak... due course-probably next week!

Electric

Bond

& Share... Your nom-de-plume will be used Eris Failway

For Fim & "again.; 3.-You are quite right in

your attitude; moreover, the local General Electric

Foods ... General market is not going to be very General Motors renumerative to investors coming General Railway Signal in at the present moment.

Gold Dast Goodrich Bubber SUREL-All depends upon how Goodyear Tire & Rubber

much money you have for the Granbyrthern Cer purpose. If it is a small sum, I Great Northern Certificates...Mati, Filim.

97 90 Hershey Chocolate recommend you to stay out for International Cement

691801 the time being, I, on the other

International Combuston Eng hand, you can afford large sama, (Continued on nezi Column.) " try Lands or Electrics, 2-I do not recommend either. The Telephone Company,

*

N

ལ

181 18 141 144 .87 1133

*** 112 1121

No Extra Proft.

214 214

97% 961

7 71

421 13 International Tel, & Te

55 508 Johns Manville

47 47 Kennecott Copper... 79801 Eronger & Tall....

41 Kroger Grocery....

65

过

Liggett & Myers B

***

Loews' Ing. Ludlum, Steal Montgomery Ward

Mackintoshste

$11.36 Sinceros (old) 811}

Nevada Consolidated Copper New York Central

Pacifio Lighting

Packard Motor Car

AGENCIES.

Bangkok va SwatOW

Ceylon, India, Mauritius, '? East and South Africa, Aden, ( Egypt and EUROPE vis Marseilles

due Marseilles, 13th Septembar

Swatow, Amoy and Fooskow... Manila

284 The London Office of the HONG Sandakan

401 40

752777

271 271

37

1717 1051 184 831 84

157 15

Paramount-Public Corp.

Pennsylvania Railroad

76 76

Fennroad Corpo

Phillips Petroleum

Fahlia Servies of N. Jersey...

Radio Corporation

114 114 This

97: 001

KONG DAILY PRESS, 53, FLEET STREET, EC.4, is constant ly receiving Enquiries from Home. Manufacturers regarding Buitable Firms to act as "Agents for their prodnats in Hong Kong and South Chinn

Local Compras denizons of taking ap fürber Audiow will let us know the. Lines is which they are: interested the infgrentilavethes forwarded to London and passed on to interested parties as op portunity offers.

Service is offered to our Benders without charge and, of course no obligation is inerred on either ride.

DOCKS-These shares have now SHILLING WORTH ONLY 14, British coins was reduced by the Reynolds Tobaco B 501 50% The Required Information should be:

returned to the nominal" column and are quoted at $39.

HONG KONG HOTELS-A fair business in this stock was register. ed at $11,28, but this undoubtedly few shorts! was caused by & having to covoimmediately the settlement are aver quotations fell again, and at the close of the week sellers were in the market making $10.75, with buyers only prepared to pay $10.50. A further drop in rates is foreshadowed.

HONG KONG LANDS are very firm, with buyers at 1837 and probably, more will be paid for shares this week.

*** 681-671

11, 1x House Staze?, 11 BONG KONG DAILY PRESS, LTD

Bong Kong.

Sears Boobuck

19Matant to the Shell Union

261 231 Simmons Compaay Beuthern Callora Edison Standerd Gas & Electric 110 1024 Standard 101 of New Jersey 75 781 standard Oll of New York... 324 32 Teras Corporation

531 521 Texas Gulf Sulphur Timken Roller Bearing

The proportion of fine silver in Coinage Act of 1920 from 928 per cont. to 50 per cent., with the con- SILVER REACHES NEW LOW sequence that an ounce of silver

RECORD.

now makes rather more than 10s. worth of coin!

The Mint, however, is not mak The bullion value of the shillinging 101d. profit on every shilling it is now only 1d., says a London strikes, as it is not now buying peper, but people who hope to pur silver in the market, and therefore chase them at this prace will be does not werent by the low price

Linguisterd the old penin Carbide & Carbon disappointed. 1 Coins of the realm have a token 1920 coins, which are still being Union Pacifle Railway,

United Aircraft & Transport. United Corporation withdrawn from circulation.

A 1919 shilling contains enough United fan& Improvement ailver to make about two 1930 ones. United Dry Docks

Silver touched its highest record. B

Vanadium.or price on February 11, 1920, when it al was Bold. per dunce. A shilling Warner Bros. Pictures then, containing 2.5 per cent Westinghouse B silver, therefore cost about 18. 4d. Woolworth

value, and shillings apent in the summer sales will secure as great bargains as they did last year.

There is a simple explanation. Silver which has fallen to the lowest price ever known, was 15 11-10d. per ounce (Continued at foot of next column.)

65 65

ON SALE.

c

75 73+

61 61

BOUND VOLUMES

* HONG KONG WEEKLY

871 86 PRESS January to June, 1989.

Ung

1681 1671VKY WEA

104 1044 WITH INDEX, PRICE-87.50,

1701-1491

102: 109

HONUKONG DAILY PRE

D'Artagnan

Haiching Empraw of Asia...

*

Tuesday, 11th, Koteloos P. O

100 M

1.00 PM

Beg.

Letters

G.P.O...

1.45 w

1:00 PM

9.30 r

Hinsang...

*Superscribed correspondanos only.

Reg.

Letters 280 1 2

Thursday, 14th,

10.30

Friday, 13th, Kowloon P.0. {Paroela ·. 4.30.

Eeg 18th,9:00 A MES Letters 10.00 a w ́ G.P.O.

Par. 15th, 5.00 ≥ vì ̧

Reg.,16th,3.45 p Letters 10,30 Á ̈æ

Straits, Ceylan, India, Mauritius, East and South Africa, Aden, Egypt and EUROPE Marsaillesdae Mar-

ellies, 11th 8-ptember

'67

Rajputans

Interested In Wireless?

Then look for some

interesting

the

Daily

news

next Thursday.

Pres