12
Money and Markets
TIN RESTRICTION.
17,100 TONS BY YEAR-END.
WHOLE-HEARTED SUPPORT
OBTAINED,
GREEN ISLAND CEMENT CO.
NEW ARTICLES APPROVED.
HONG KONG DAILY PRESS, THURSDAY, AUGUST 7, 1930.
NEW YORK STOCK DAILY SHARE QUOTATIONS
EXCHANGE.
FAILURE TO BRING ABOUT Á RISE,
HEAVY SELLING BY SMALL TRADERS..
[UNITED PRESS.]
HONG KONG STOCK EXCHANGE.
DATECH Baller Balm Nominal|
SHAREBROKERS! ASSOCIATION.
(WEDNESDAY.
AUGUST:6.!!
Bayern Sellers Bale Moul
Banks
[31,310) HK. Banks
exor
Do. (London)...
£171
Chartered Banks
Marcantila B. "A.
199
12
Da..
$191
Bank of East Asia...
$115
Insurances
8943
Canton Insurancsa.
$940
$2.65
Underwriters
$2.70
the
1.180 $497
***
North Chinas.........
T160
487/40
Unión Insurancer... $439
$440
M.350
Yangtare Insurances
$60
2400
Chire. Fires
8960
E.K. Fires.....
3950
the
Mr. J. Scott. Harstou occupied the chair at the extraordinary
New York, July 30.-Early at- and Cement Company, Limited,tempts to force an advance in the general meeting of the Green bold at Exchange Building, Desmarket failed on the New York Varus
Road Central, yesterday, which was convened for the fol- Stuck Exchange to-day, and prices broke to reduce the value of the list by some "G.33,000,000, "says daily review of the Dow Joves Financial News Agency
Acable received by the Singapore Advisory Council of the Tin Pro- ducers' Association (Incorporatedi) from. Sir William Peat in London, reveals that the latest estimated re-lowing purposes:- sult of the combined effort of the world's principal tin producers, up (a) To consider and, if thought
to the end of this year, is an aggre- gate curtailment of approximately 17,100 tons of metallic tin. We take from the Straits Times the text of the cable, as follows:-
"I have the pleasure to inform you that in response to my circular lottre of June 27, support has now been accorded by 94 companies to the Council's recommendation re- garding the adoption of the fur-. thor drastic measures of regulation required to bring more into, accord the position of supply and de- rannd.
"
"A complete list of these com- panies appears at the end of this
The communication.
aggregate output of these companies is taken at 43.000 tons of metallic tin per case of annum. except in the plants that were not in full opera tion in 1929, necessitating more re- cent figures the tonnage is based on the actual outputs obtained dur- ing the second half of 1929.
Et, approve the draft new articles which will be submit- ted to the meeting, and in the event of the approval thereof, with or without modifications. (b) To consider and, if thought
Professionals controlled market.
Declines in Commodities.
Simultaneous declines in grains, cotton and sugar were recorded on the commodities market,
There was also heavy selling on the part of small traders who were ft. to pass a resolution to the eager to unload in order to save effect that the new articlesamall profits obtained during the already approved by this
past fortnight. meeting and for the purpose of identification subscribed by the chairman thereof, be ap- proved and adopted as the articles" of association of the company, in substitution for, und to the exclusion of all
Sales of stocks for the day shares. Call 2,307,980 the existing articles thereef." totalled There were also present Sir money remained at 2 per cent
With U.S. Steel down 3 to 1611 Robert Ho Tung, Measrs. Li Taze Song, C. F. Mendham, C. A. da at the close, the Dow Jones average Roza (Directors); R. A. Wadeson for 30 industrials was off 7.39 to
$31.08. Westinghouse was down 5 (solicitor), Allan Keith (secretary), to 1424; Eastman Kodak declined and M. A. Figueriedo and F. E3 to 2034; American Can was off Silva (shareholders).
3 to 1291; Bethlehem Steel was off 2 to 80; Du Pont was off to and General Electric was down a to 69.
Chairman's Speech, After the secretary had read the notice calling the meeting, Mr. Harston said:-
The curtailment of this output to be effected in accordance with the support now assured to the
The object for which this meet- Council's recommendation, includ- ing a shut-down of plants for two ing has been called is, as indicated moaths and a subsequent 20 per
in the notice which the secretary cent. enrtailment in the
as just "read, for the purpose of ca.se of those companies which have so agre-
receiving a report of the proceed- ed. will amount, during the curing at the extraordinary general rent half-year, to over 9,200 tons meeting held on the 16th ultimo and of metallic tin,
"The above calculations are bas- ed upon n shut-down of plants for two months, whereas a number of companies have intimated their in 1
tention to close down for three months or longer.
"Part 3 contains a list of 16 companies which have not yet sigui find their intention of closing down entirely for two months, but are carrying out a régulation pro gramme, and are now producing an average of approximately 20 per cent. less than their 1920 produc. tion.
Nón-Chinese Producers, The aggregate metal output of these
companies during 1929 amounted to 7,700 tons per annum, and their curtailment during the remainder of the year 1930, cal- culated as from June 1, will accord ingly approximate to 900 tons of metal, which added to the previous figures 9,200 tons, represcats & total curtailment of production by non-Chinese producers in British territory and in Biam, of 10,100 tons of metallic tin.
Bails and Utilities Lower. The Dow Jones average for 20 rails was of .94 to 131.55. Peng sylvania was off 3/8 to 73; New York Central was off a point to 133; Eric was up an eighth to 412; Rock Island was up a half to 1024 B. &
of confrming, if" thought fit, as a.was off a quarter to 103; Unioa special resolution, the resolution Pacific rose to 2154; and Cana which was passed as an extra-dian Pacific was down 3/8 to 1564. ordinary resolution at such meeting. ber, concerned the approval of the draft new articles of Association of the company.
$26 *24
܃ ܃ ܃ ܃ ܃ ܃
$33
Shipping
Water-boats
!!!!!!
FOREIGN MAILS
· RADIO NOTICE.
Individuals and firms are recommended to register their tele graphic address at the Radio Office. No charge is made for this
The following rates of postage are now being charged on letters (other than postcards) addres ed to the following destinations--
Dodination
Places in the Colony,
Rate of Port ...3 cents for each on, or part of sú oz, United Kingdom and British Po4304-1
sions and Protectorates Macao ***
1
China proper, excluding Sinklang,
Mougalia and Thibet
4 cents for each on, or part of ax oz. 14 canta for "the first oz, and 3-cents Foreign Countrics generally ...for ach additi dal oz, or part of nu on. The special rats of 2 erats per 4 oz. on newspaper published in the Colony and addreward to Hong Kong, United Kingdom, iritish Pessessions and Protectorates, China and Macao has been abolished and the rate of 2 cents per x o surstituted therefor."
Chicalars for addresses in the Colony or Wai Hai Wei, which are posted in batches of not less than teu of uniform size and weight, and which are posted by being delivered to an officer of the Post Office, ure 'nów charged postage at the rate of 3 cents for each xoza, or part of ozi, instead of 1. deat per 2 oz, as heretofore.
3 cents for each of or part of an uz.
Secchore...
INWARD MAILS.""
Douglases
$25+
Steamboats
$25
FROM
PER
DULY
$43
Incios (pref.)
$43
$40
Do. (def.)
$40
95/7
Shell Transports
98/3
AHANGHAI and Swarow
7th Aug.
$31
Mining
0.8. A - ..-- DNOLULU, Japan and SHANGHAI)
(au Francisco, 12th July), and EUROPE - via SIVERIA (London, 19th Julyf JAPAN and Shanghai
Shinyo Maru
7th Aug.
Haruna Maru
$et
Banqueta...
ŠIANGRAI Rnd bWATOW
busing :
8th Aug. 9th Aug.
91/3
Kailans
54%
Langkata (comb.) «««
T14.40
Free Garfield
9th Aug.
T.a
Lo.. (single) |
$7.40
T1.30
Explorations.................
Kashima Haru
9th Aug.
Shanghai Loan ...
T.6
Alderamin
10th Ang.
$231
•Raubs
893
AMOT
Tjileboot...
16th Ang.
Tronoh Mines.......
21/
Empress of daiữa
11th Aug.
Pres. Grant
11th Aug..
Tanda Thibodas...
11th Aug.
12th Aug.
IM
Docks, Wharvos, Godowns, etc.
FAK & K Wharfs...
$170
3172
$5.10 $3.30 $0.10
$34 1.117 ex dir.
Providents
$5.36
H.K. Docks und
$39
Shanghai Docks
·T.114
T.7
New Engineerings
17,25
Hongkewa.....
KR
T.260
#
Lands, Hotels, and
Buildings
H.K. & S. Hotels
Humphreys
$11
10.00/- 60
8841
H.K. Landa
$834
ex div.
.267
Shanghai Lands
$9.90 SD
$9
H.K. Healty's.........
39
$16
$15.40 $15.75
587
Chinese Estates ..
Cotton Mills
Ewos
T11.30
T78
S'hai. Cottons..
T.78-
Zoong Sings
19.30
Tramways
Utilities declined strongly by 3.02 10 95.78. International Tel. X Tel. was down 1 to 45; American Tel. & Tel was dow'n five points to 241; Consolidated Gas was off four T11.10T11,80 You will also remember, that at points to 1083; Radio Corp. was the above mentioned meeting I down 21 to 414; and Public Service shortly explained to you why your of N.J. was down 34 to 921. directors thought it essential, to alter the articles of associaion, and I do not consider it necessary to deat further therewith except te add that at the meeting in question the draft new articles of association were unanimously approved, and that the resolution recording such approval was unanimously passed as an extraordinary resolution.
Under the Hong Kong Companies Ordinance, however, it is necessary that the approval of the new articles of association shall be signified by special resolution, and consequently this meeting has been convened for the purpose of en- abling the extraordinary resolution above referred to, to be confirmed as a special resolution, and I ac- "I would remind you that the cordingly beg to propose the International Committee, was suc firmation as a special resolution of ressful in obtaining the whole-heart- the said extraordinary resolution, ed co-operation, both of the Balinamely :-," vian producers and the Billiton
the Company, upon
conditions atated in my circular letter under reference. In view of the support already obtained from the members of the Association assurance, have now been received from the prin- cipal Bolivian producere "confirm- ing their undertaking to curtail their production as from June 1. by 25 per cent. on the basis of their 1928 productions.
Thas the new articles already approved by this meeting and for the purpose of identification aub- scribed by the chairman thereof
QUOTATIONS.
New York, July 31," Market wook, Business done, 2,507,280 shares.
July 29 30 Adame Express...
271 261 American Can.......
... 1821 129) "American & Foreign Power...761 73 American Bolling Mill... American Bmelting American Tel. & Tel. American Tobacco "B" American Waterworks... Amends Copper Anaconda Atlantic Refining Baltimore & & Obio Bethlehem Steel Borg Warner. Calamet &
Hecla
Canadian Pacific Railway
Chicago Rock Island ... Chrysler
Common... Cities Service
'Gay & Electrio Columbia Ga Columbia Graphaphone Commonwealth & Southern Commonwealth & 6."WaT, Commonwe
Consolidated Gas of N. T.
Continental Oil ...
COP Wright, Curtis Du Pont de Nemours...
be approved and adopted as the Corn Products on articles of association of the com- pany in substitution for and to the exclusion of all the existing articles thereof."
Mr. M. A. Figueriedo seconded the motion and it was carried un-
The Bolivian shipments of tinanimously. ore during 1999 were equivalent to 43,033 tong metallic tin, while last year's production of the Billiton Company is recorded as 12,982 tons of metal
Billiton Co-operation. "Subject to satisfactory support by members of this Association, the Billiton Company will curtail 20 per cent. of their 1920 produc tion, and my committee is convine ed that this curtailment will be loyally executed with "retrospec- tive effect from June 1, 1930.
The curtailment of the foreign producers is accordingly estimated at not less than 7,000 tons of met al. The International Committee has under consideration the best means of checking the output of (Continued on next Column.)
COMBER
DISTILLERIES Co, LTD.
N. IRELAND
wish to ifivile Beputable and Well- established House to take up the Representation of their World-Famed FINE OLD COMBER
WHISKY (Para Pot Still
is Rosa Kord and DISTRICT, Applications should be addressed to THE SECRETART, COMBER DIS- TILLERIES Co, Ltd; „COMBER, NORTHERN IRELAND,
all the above participants in the curtailment scheme, and arrange,
Eastman Ko
Eastman Kodak... Electris Bond & Share...
Eris Railway Foz Film General Electric General Food General Motors.**. General Railway Signal. Gold Dart
Rubber Goodrich
ments satisfactory to all parties dycar Tire Rubber
will be completed at the earliest I possible date.
"The estimated result of this co- operation between the world's prin cipal producers, to: December 31, 1830, is an aggregate curtailment of approximately 17,100 tons of metallic tin.
Hershey Chocolate
$19
$8.10
$25
338
דד!
9211
Public Utilities
Peak Trams (old).....) $1z))
(new).....{ $6±
Do.
Star Ferries
C. Lights (old)...... Do. (new)...... A.K. Electrica
Macao do.
Sandakan Lights
Telephones (fully pd.)
(part pd.) $z4
Do
8112
581 531
$32.
881 67
88 67
218 211
China Buses
2.183
241
Tractions. S
18/0
Do. (pref.)......
„Industrials
.... 245
901 92 50% 40%
377 361
... 108 108!
83 80
80201 18 15 1881 1881
102
T.10 Caldbeck, ((oni)
Tuto Macgregors (pret.) Canton Ices
$2
$2.25
...102
$18.30
30 29
***
813
29 28
Do",
Cements (comb.)....... $174
Do (old)...
(new)...)
65 833
$103
$10
Ropes *****
$1,60
181 17:
$1
China Sugats........
*27
#5
147 14
311
1124 1087
211 21
96
7
$28.30
... 117 1111
311 2001
$1
8583
411 411
International Cement... International Combuston Eng. International
Harvester International Mickel International Printers Lak International Products Com.... International Tel. & Tel Johns Manville Kennecott Copper Kreager & Toli ... "Kroger Grocery..
Loews Inc.
་་་་
"In arriving at these figures no allowance has been made for Chin- ese producers in Malaya, Siam and Chins, or for producers in other gett & Myers "B" parts of the world whose opera-Ludlam. Stool tions are being restricted in co Montgomery operation with the Association, or for those companies which have in timated their intention to shut down for a longer period than two months.
"It will, therefore, be seen that a substantial addition to the above figure of 17,100 tons may be expect ed from these sources
In conclusion you will agree that the industry generally, is to he congratulated upon the success
Ward Nevada Consolidated Copper New York Central Pacific Lighting, Packard Motor Car Paramount Publix Corp. Pensylvania Railroad Pennroad Corps. Phillips Fetroleum Public Service of N. Jersey Radio Corporation Bears Boebuck Beynolds Tobacco "B", Sholl Union Simmons Company
achieved in bringing so many Southern California Edison separate units into agreement," and Standard Gas & Electric
Standard Oil of New Jersey Standard Oll of New York
Corporation
so establishing an understanding between all parties that must in the future facilitate the adoption
474451 73
09
561 541
80 781 41 403
28 271
62
26
Malabon Bugars
United-Asbestos
Miscellaneous
P
!!!
.......
V.SA, HONOLULU, JAPAN and Shang-,
Kar (San Francisco, 11th July) Euxor via Nasäratám (Letters an:)))
Papers London, 10th July) SHANGHAI
+
CANADA, U.S.A., JAPAN and SHANGHAI
(Vancouver, B.C., 24th July) ...
U.S.A, HONOLULU, JAPAN and Shanghai
(ban Francisco, 18th July) Australia and Manila BOURABAYA
144
***
OUTWARD MAILS,
REGISTERED and. PARCEL MAILS are elcsed 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 5 p.m. on the previous day..
Бов
Heibow, Pikhoi sat Asiphong
Shanghal, Japan, Canada, U.3.A., C. and 8. America and *EUKOPE via Van- couver, B.C.due Vancouver, B.C., 22nd Aug, and #Europe vis Biberin.... Sestow Saigon
Swatow, Amoy an f Foochow
T
་་
PRE
DATE and Tix
Thursday, 7th,
8,30 & M
9.15 AM
Bez.
Latters 10.00 AM
Menado Marts
Emp, of Japan Hydrangea Shun Chir
$19.40 $19.40
Triday,
Hai Ning...
$66
$25
$15
Straits, Caylon, India, Mauritius, East and South Africa, Aden, Egypt and EUROPE vis Marseilles-due "Mar- seilles, 7th September..
Haruna Marui,
Ohung Kong
Trinan
Hinta
Amor
8/9
$13
$5
$29
៖៖៖ រដ្ឋនខ្ចី ខ្ច ! ! ! ! ! ផ្លែ
Dairy Farms
$25+
Der A. Wing.......................... Amusements
$26
$184
310 81.90 Constructions $3 Lane Crawfords.
Mackintosha...... Nanyang Tobacco...
Uhin. Entertainm’ta.
$10
91.90 93
Do (NOW) ******
$12 $2.86 #1
Watsone
Wm. Powells o
B. Ind. G.$ Bonds..."
$11.36 Sinceres (old).....................| Bil†
B.K. Gost. Loans ....
$4
312
612
81081
AMERICAN STOCK QUOTATIONS.
96 941 Mutt
841 811 24) 23)
prem.
381 28
Ung
471 451 87 83
80
252241 981
40
£27 281
88851
1716
880 1514) [6063)
76 751
11921
- LATEST WALL STREET PRICES.
•
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, Ceable address Swanstock, Shanghai), who are not responsible for cable mutilationa-
Tone of Market. -Weak.
No. of Shares donc.-1,250,000.
Call Money-2 per cent..
NEW YORK, August 5, 1830.
Last Dividend.
Latest
· 164 163
Sales.
"
it
69
American Smelting
4.
Anaconda Coppàr
-3.30.
51
104
Baltimore and Ohio
31
Borg Warner
******
Continental Oil
NODE.
30c, A
20
BOL GOL
Curtis Wright Comman
None
671
Eastman, Kodak,
5BM
Math, 19
20 251
Electric Bond add Share
Erie Railroad
None.
102
96
General Motors
30
:80
781 72
Gull Belphur EDGE
of such steps as may be consider Boller Bearing
Trans America ... Union Carbide & Carbon Union Pecilio Railway
ed necessary from time to time to maintain, that equilibrium of sup rly and demand which is essential for the WelfarŰ OF THY ZNGUSTry xy ↑ Outer s a whole
I have now only to ask those members who bave so generously accorded their support to put into operation without lurther detay the recommendations to which they hay, agreed."
United Corporation United Gas & Improvement
Dry Docka United Dry D. 8. Steek Vanadium Warner Bros. Pictures Westinghouse E. & M. Woolworth
City Service. Common
General Railway Sigasl Gold Dust mainlan Goodyear Tire and Rubber Granby Consolidated International Cement International Nickel ... Montgomery Ward Name Magade fansalidated. Radio.Corps. Sears Roebuck," && Co. Simmons Co
2322
218,215
361 B
21.
Standard Oil of New Jersey
*72
101 96
Standard Oil Co. of New
:32
39 391
Union Carbide and Carbon.
148) 142
591 584
United States Rubber
None
United States Steel
Mutilated. 100
Amoy
**
**
3.00 M
-8.30
8th,
4 Kowloon. F.0. Bøger: 4,30 zx Lettore 4.30 pm.
G.RO.
Beg. 5.00 Letters 8.00
6.00 PX
Saturday, 9th,
1.30
3.30
Pra, Garfield
5.00
Sunday, 10th,
Antung
8.30 *
Team
8.30 A 12
Horan Mary
Kueichow"..
Kiang
Tjilsboet
10.80 AM
1.00 M
D'Artagnan
Letters
1.00
| G.P.O.
Beg. Leftore
1.45 vu
2.80
Shanghai, Japan and *EUROPE via Siberia, Kushima Maru Manila ..
Hoihon, Pakhoi and Haiphong Swalow,
Amoy and Formoss
Foochow and Wei-Hai-Wei via Swatow Bangkok via Swatow
Java via Bataria
Saigon, Ceylon,
India, Mauritius,
East and South Afrian, Adan, Egypt and *EUROPE via Marseilles -due Marseilles, 18th September
Swatow, Amoy and Foochow... Manila Manila
Bwatow
Sandakan
+
Straits and Calcutta_...
śwalow, Amoy and Fooobow
Straits, Ceylon, India, Maurition, Eart and South Afriss, Aden, Egypt and LUBOKE via darseilles-une Mar.
alle, 12th September
Hatching... Empress of Aria Pres. Grant
201
Worthing... Hinsang ...**
Sui Bang
Rajputana
*Superscribed correspondence only.
CANTON TRADE
NOTES.
The price of gold, which dropped a little lower recently, has aguin advanced. The current quotation is 71 tacks.
9.00 & 9.00 K
9.00 A M
Tuesday, 12th.
Kowloon F. 0. Brog
100 PM
8.30
430 x 2
Wednesday, 13th,
8.30 a 10.30
Friday, 15th, Paron Noor Letters 1.00. M M
100 Kowloon P.O: Parcels. 4.80 Boy 18th,8.00 A BE Letters 10.00AM
***G.P.O.
Par. 16th, 5.00 x Bag. 16th 9.45 M Latiers 1080
Jome 8,703 `picula of raw silk and, 2,000 piculs of waste silk were ex- ported abroad during last month, "showing a decrease of 182 piculs of raw milk and 707 piguls of waste silk over the preceeding month.
Sugar refining in Swatow has beer on the decline owing to com petition of foreign sugar. Accord Sales of wolfram are limited asing to a sugar merchant, the quan- merchants are reluctant to sell on tity of foreign sugar imported into account of the low prices. During Swatow increased to 250,000 bage last month over 2,811 picals were wile the export of Chinese sugar exported and the market is now decreased to 140,000 bagn last year. Overstocked
Thero were formerly over sixty sugar factories at Swatow, but at present there are only a few still in existence. The merchants, have- requested the authorities to reduce the export duty rate.
Some 567,000 big dollars and 274,000" 20-cent Kwangtung silver coins were imported during last month. No silver bullion was im ported owing to suspension of work in the Government Mint..
According to an official Atkin
The quantity of imported foreign piece goods increased considerton last month. It is estimated that Government has decided to intro
apd⋅ some 92,166 rolls were imported, duce the consumption tax showing an increase of 18,423 rolls business tax alter the abolition over the month of June and 4,807 of likin in order to meet the finau. rolls over the corresponding period cial deficiency caused by the aboli- last year
tion of likin."
No comments yet.
Private notes are available after approval.