1930-08-18 — Page 12

12

Money and Markets

PRICE OF SILVER. NEW YORK STOCK

AMERICAN CONCERN.

Washington, July 18.-The domes. tie and international effects of ex- treme depression in the price of silver are being carefully studied by Congressional and Department- a experts here, with a prospect that next session of Congress will and numerous remedial measures before it for consideration.

The present situation presents a long chain of adverse aspects, the most evident being the lump in Far Eastern trade-due to the im-

EXCHANGE...

HONG KONG DAILY PRESS, MONDAY, AUGUST 18, 1930.

DAILY SHARE QUOTATIONS

RUBBER OUTPUT.

SINGAPORE IN FAVOUR OF RESTRICTION,

HONG KONG STOCK EXCHANGE.

SHAREBROKERS' ASSOCIATION.

Bayers Ballers hel

Homlant

SATURDAY, AUGUST 16.

Buy Bellers

Sales

Bank

(THROUGH REUTER'S AGENCY.]

SINGAPORE, August 18. The local Rubber Growers Asso ciation has replied favouring by a

CRASH IN PRICES FOLLOW-large majority the proposals for an

ING HEAVY SELLING."

CONCERTED ATTACK ON U.S. STEEL.

[UNITED PRESS.

New York, August 8.--Profession- al traders on the New York Ex change to-day sold heavily, says the daily review of the Dow Jones Financial News Agency.

Prices crashed to new lows on the reaction.

from yesterday, with Bethlehem down 21 to 90 and the Dow Jones average for 30 industrials off 9.97 to 222.82 for the day.

Selling late in the session attain- paired purchasing power of silvered marked momentum when there And the second being the depres- was a concerted selling attack on sion of the mining industry in U.S. Steel. which closed at 161, off Nevada, Colorado, and Utah. The silver, slump, affecting Moxico as the world's greatest producer, also reduces the capacity of that coun try iq purchase United States' ex- ports.

20

Mexico, the United

States. Canada, Peru, and Australasia, in the order named are the chief producing countries, and during the last fifteen years, there has been steady increase in both the volume, and the proportional quantity produced by Mexico,

Mexico 1999

produced 103,000,000 ounces, or almost 41 per oent of the world's total. This with production of compared

in 1914 and 26,000,000 ounces 56,200,000 ounces in 1999.

in

Sales totalled 3,319,520 shares, the largest number in many days. Call money contained at 9 per cent.

Westinghouse E. & M. fell to 1371. off 7, at the close. American Can was down nine points to "1173. American Tobacco "B" closed at 238 as compared with yesterday's 231. Eastman Kodak was down 7 to 200. Vanadium closed at 534, off 12 General Motors was off two points to 44, Chrysler was off 2 to 27 and Packard was off 7/8 to 131.

Government Cotton Estimates.

The U.S. Government cotton estimate totalled 14,362,000 bales, which proved greatly above expecta tions. This estimate was a dis- heartening factor for many traders on the Stock Exchange.

The drought situation remained uncertain, although it seems certain that the grain yield will be auch below expectations, and this con- tinues to move prices upward,

Production and Distribution. World silver production in 1828,

Utilities moved downward in the last year for which complete harmony with the industrials, the comparative statistics are avail Dow Jones average for 20 utilities able, amounted to $57,300,000 divid being off 3.51 to 80.18. American od among countries. as follows: Tel. & Tel. was down eight points United States, 58,400,000; Mexico, to close at 202); International Tel. 108,500,000; Canada, 21,900,000: Tel. was down three points to Pera, 21,800,000: Australasia, 21; Radio Corp. was down 4 to 35): Columbia Gas was down 31" to 53: Public Service of N.J. was down to 87; and Standard Gas was down 2 to 003.

10,300,000.

The distribution of world silver Production in 1929. as tabulated by the department of commerce, in ag followa; India, 51,800,000 ounces; China, 136,700,000; ¡Ger- many. 12,000,000; for manufacture in United States and Canada, 37,000,000; in England, 6,500,000. For cainage United States, 2,500,000; Russia, 3,500,000;

arts and

ид.

Netherlands, 3,000,000; Hong Kong dollars, 16,000,000; otherwise Accounted for, 12,500,000.. Total production and other supplies, 311,500,000.

Railwaya Lower.

The Dow Jones average for 20 rails was off 1.87 to 127.43. New York, Central was off to 160; Pennsylvania was off 1 to 714 Erie was down 2 to 33; B. & O "was off 5/8 to 103; Rock Island was down 3% to 914; and Union Pacific was down 3 to 2101.

Anaconda, Copper again retreat- cd, closing down "1 to 493, with American Smelting at 644. down 2. Kennecott down 1 to 33 and Nevada Consolidated down 6/8"to 161.

America's Double Interest. The United States' has a twofold interest in silver, first, as a pro-

sustain ducing country, to

the price; second, as a great export- ing nation, to have the silver It is too early to predict whether such a plan would encounter Con- valuation high in silver-using coun- tries, thereby sustaining their purgressional favour.

Appropriations for statistical chasing power,

studies, and the holding of a domestic conference of leading sii ver producers and consumers are other suggestions that have been advanced.

In connection with the first in- terest, a great and futile effort was made at the last session of the United State, Congress, to secure a tariff of 30 cents per ounce. Such a tariff was favoured by the Senate, but was rejected by decisive vote

in the House..

Anglo-Dutch liaison Committee to restrict production.

AMERICAN TRADE.

LOWEST EXPORTS FOR NEARLY TEN YEARS.

(REUTER'S AMERICAN SERVICE.]

$26

mfu

New York, August 16. American foreign trade for July 24 $35 was the lowest for nearly a decade.

The Commerce Department statės that the exporta for July amounted to $269,000,000, and importa, "to $219,000,000, showing a decrease in each case of over 30 per cent, com- pured with July of last year.

EXCHANGE RATES.

[BRITISH, WIRELESS-SERVICE.]

Paris

". New York Brussels Genzva

Oslo

Lisbon Athens Bucharest. Rio

!!!!!!

:!: : !

$440

***

£103

*

$1,480 HE. Banks 31,450|

Do..(London)...

2101 Chartered Banks

Mercantile Bks. "A"

Do.

#131

Bank of East Asia...

$115

Insurances

8945 Canton Insursaces..

$236 Underwriters..... $2.40 | $2,60

North Chinss.........

Union Insurances ... $439

Shipping

*1

******

اهماجمه

FOREIGN MAILS

RADIO NOTICE.

Individuals and firms are recommended to register their tele- graphic address at the Radio Ofice. No charge is made for this.

LONDON Parvals (17th July) and STRAITS | Patrocíns STRAITS JAPAN and BHANQUAI JAPAN

INWARD MAILS.

FROM

Pro

Du

Etr

B63

MANILA

Germa

∙18th Aug..

£121

Shanghai and EUROPE via SmIE A

(London, 28th July)

*

Duisburg...

18th Aug.

SHANGHAI and Swarow

Paisan

18th Aug.

MANILA

...

JAPANI

Pros. Grant Kilano Mars

J

18th Ang.

18th Aug.

**

BAIGOS

3010

STRAITS

VPÅ

Sphina

19th Aug.

Houtsa

19th Ang.

་་་

T160

AUSTRALIA And Manila -- BATAVIA

Tango Mara

19th Aug.

***Tjisondars

50th Aug.

Alat Aug.

M.560 Yangiare Insurances

$60

...Hakona Maru

gud Ang.

B

China Fires MAMATE

$400

Kamo Maru

22nd Aug.

H.K. Fires.40 COPY

SUBO

.

w

Giugo Maru

23rd Auge

Douglases s

$35%

Steamboats adic

Indos (pret.)

$40 95/7

Do. (def.)

Shell Transporta ̧ ........

Water-boats ....................

$43 $40 $3/7 $31,

1.8.A., HONOLULU, Japan and ShaNG= || HAI (3an Francisco, 25th July) ... U.S.A., HONOLULU, Jarasand SkarenAL

(San Francisco, lat Aug.) CANADA, US, A., Honolulu, Japan and Buasonal (Vancouver, B.On 7th Aug)

Pres. Pell

gard Aug

**

074

Fres, Cleveland

Emp. of Canada,..

"25th Ang.

27th Aug.

Mining

$8+ 26/9

Benqueta...

Kailans

54/.

Langkats (comb) ...

TE

Do. (single)

T1440 $7.40

T1.30 T.6

Explorations......

T.1

FOR

PEZ

DATE and TIME

Shanghai Loans ...

1.6

$23

Rauba ONRY

Tronoh Minga

21/

Docks, WharveJ,

Manila and Parcela only for Germany via

Hamburg

Swatow

Duisburg ** Hydrangea

H.K. & K. Wharfs...

$160

Providenta.......... $3.10

HK, Docks

339

Shanghai Docks

T114

Japan, Canada, U.S.A, Central and South America and. *EUROPE via Vistoria, B.-das Victoris, "B.C., Ì 5th Septemer.**

Pros. Grant

Beg

Beg,

T.7

Hongkewa

Pros. Grand Kutaang

14

**

Lands, Hotels, and

Monday, 18th,

*19,30 M

3.00 P

Pardala 3,00 ex

4.15 PM

Letters 5.00 M

Letters 8.00 PM

5,00 7,

Tuesday, 19:b, Beg.

-5.00 = X

$9.40

****

199

Godowns, etc.

New Engineerings

Bulidings

HK. & S. Hotels... $10.30)

H.K. Lande, cam. r $791

Do

Do

$10.45

$50

ox rights, $76

rights

$15

Li

T87 Shanghai Lands

H.K. Realtys...................] 844

Humphreys ...--|| $15.40 $15.70

Chinese Estates

Cotton Mills

Ewos

T.78 S'hai: Cottons

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 5 p.m. on the previous day.

Shanghai and EUROPE via Siberia Amoy ..**

Manila, Australia and New Zealand vis Thursday Island-dus Thorsday is- Inad, lat Bapt...

Manila and Java vis Sourabaya.

Straits, Caylon, India, Mauritius, E. and

8. Afrios, Egypt and EUROPE via Marseilles-dus Marseillas, 19th Sept. }

Shanghai, Japan and *EUROPE vis Biberia Sphins... Swatow, Andy and Poochow

Swatow and Amry

Stanghal, Japan, Canada, U.8.4, 0. and

6. America and *EUROPE via Van- conver, 3.0, das Vancouver, B.C., 6th Sept, and Europe vis Siberia...

Van Houtes

10.00 AM

1.00 PM

Empress of Asia Wednesday, 20th,

RUGBY, August 18.

$165

193.83

$15 $5.10

4.87

34.541

1.117

05.043

T.260

Amsterdam

12.00

Milan

92.97

Berlin

20.301

Stockholm

16.199

Copenhagen

18.16

$10.40

18.164

$80

$81

144

Vienna Prague

34.44

36

184

$15

Helsingfors

193 7/16

Madrid

45.20

$18

103

Sym

翻厂

375

.818

-3 1/64

Buenos Aires

41 1/16

1/31

**

1/01

1/30

2/0 11/32

$19.40 $18.60...

Tramwaya

$18.20

$12! 88.15

Peak Trams (old)... $12)

Do. (new)...

$86

Star Ferries......... 88%

$24

C. Lights" (old)................. 8132

821.15

Swatow Гарад

TO

100

It

TRADE.

520

Do. (new). $107

$761 8771

HL.K. Electrics

..... $70

$23

Macso do.

COMMITTEE TO MEET ON AUGSUST 27.

311

Sandakan Lights.

Bombay

Shanghai Hong Kong

Yokohama

Silver, spot & forward 18 3/16

INQUIRY INTO U.S. CHINA

[EȘITED PRESS.]

⠀⠀

T.12

!!!

T.9

Zoung Bings

+40

T.18)

10/-

+

18/8

***

Public Utilities

Tractions

Manila ...

TI1.90

Foschow...

1.76

T9.30

Telephones (fully pd.)

Do. (part pd.) $20 China Buses

Do. (prot)......

Industrials

T.10 Caidbeck, (ord.)

T1040 Macgregor (pref.)

82.10 Canton Ices ................) $2.25 Cementa (comb.)...

8.45 AM

Kilano Maru% 20+ ·

Letters 9.30 A

Tjibadak

Koteloon P.O.

Reg.

Philoctetes

*** Letters

1.00 r

Q.P.O.

Reg Loiters

1:45 PM

2.30 M

J

L

9.00 P'N

Hai Ning...

**

9.00

Califorma

8.80 z M

Chinhua

3.30 PM

B.CO

Parcels

Beg.

5.00

9.15 A Letters 10.00 AM

Wednesday, 20th,

8.80 *

Naura and Ocean Island Amoy

+41

Shanghai Japan, Hondiala, U.B.A..]

Canada, Central and South America, and *RUROPE vin- Ban Francisco - due Nan Francisco, 11th Sept., and *EUROPE via Siberia

Chakrang.. Tango Maru

:

Apocy Trinar

9.30 AM

8.30 F

6.00 r

6,00

Reg.

Latters 8.30

Tatsuta Mars... Thursday, 21st,

Thursday, 21st,

6/9

Manila, 'Australia and New Zeeland via) Thursday Island - dus Thursday, Island, 2nd Sept.

Changte

***

Heibow, Pakhoi and Esiphong

*

$17.00

$121

Do (old)...

Wei Hai Wei via Swatow and Foochow Swatow, Amoy and Fooohow.

***

213

.Do.

(new)...!

+

$104

Ropes

CH

$0.00

China Sugars.......

Chengtu

Huichow...

Haiching...

Hakone Mary

| |Bog.

Kamo Maru

...

$27

Malabon Bagara ....

FIL

$29

394

United Asbestos...

Washington, August 8.Initial hearings of Senator Key Pittman's committee, to determine cause, and eure of the declining trade with China will open in San Francisco » on August 27, it was announced to $1790 18.10 day.

Thereafter the commitee is to meet at other Pacific ports with merchants, shippers, bankers and economists who have been requested Lo appear before it...

Chinese Loan Suggested.

AMERICAN STOCK QUOTATIONS.

$1

Miscellaneous

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

Shanghai, Japan and EUROPE via Siberia

Straite, Ceylon, fɩdia, Mauri îns, E. and B. Africa, Egypt and EUROPE via Marseilles-due Marseilles, 22nd Sept.

Japan, Canada, U.S.A,**and S. Amarica)

and "EUROPE vía Victoria, B.C.- Ano Victoria, B.O., 18th September .....} Menila...

Der A. Wings.nvarian

*128

Amusements

325

$10

Chin. Entertainm'ts.

$234

$10

$1.90

Constructions

$1.90

Lane Crawfords ...

$184

Mackintoshs ********

Bandakan

HI

Nanyang Tobacco...

$4

$11

Sincerca

811

Straits and Calcutta

Watsons......................

$12

$2.65 Wm Powells

Swatow, Amoy and Foochow

8%

prem 81%

B.K. Gort Loans

8108

Although the practical results of

Senator Key Pittman of Nevada, $23.00 $24.10 $24 such steps cannot yet be forecast, in opening hearings of his com- they indicate the profound interest mittee on Chinese trade as a pro- of American silver producers in liminary to hearings later on the Inquiry Into Bino-American Trade. the rehabilitation of the silver in West Coast, suggested that a Chin- dustry and every effort will becse loan of "1,500,000,000 ounces of The silver problem is now to be made in and out of Congress to im- silver be "arranged through the

Consortum." approached indirectly through a prove the situation.. study of Chinese-American trade relations, under authority of the Pittman resolution passed by the Relations Senate. The Foreign Bub-Committee entrusted with this study consists of Chairman Pitt, man of Kevala, the greatest silver producing State of the union, Virginia, of Senator Swanson ranking minority member of the Committee; Senator Johnson of California, Senator Vandenberg of Michigan, and Senator "Shipstand of Minnesota. The Sub-Com wittee will report to the next 'ses- sion of Congress.

Encouraging Industrial Use of Suver.

Meanwhile other Senatorial quarters are studying a general programme of legislation of which the major purpose will be to pro- mote the industrial use of silver. This, it is believed, could be ac complished very affectively in a non-tarnishing silver-alloy could it be invented. The next Congross is likely to recommand extensive research in thi, problem by the United States Bureau of Stand- ards, which already has done some work without sucCESS.

Smaller American Coins? The monetary of silver of course, gets much consideration. Study is being given to a sugges tion. that the ilver dollars now used in the United States should be re-minted in smaller form, there by to facilitate their carrying and to encourage their popular use.. (Continued on next Column.)

LATEST WALL STREET PRICES..

#

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

Tone of Market. Strong.

No. of Bhares done.-1,750,000. Call Money,2) per cent.

American Smelting

Anaconda Copper ...... Baltimore and Ohio Borg Warner Continental Oil City Service Common

Curtis Wright Common Eastman Kodak ...................

NEW YORK, August 15, 1930.

Last Dividend.

B. Ind. G. Bonds... 81%.

: LOCAL AND REGULAR OUTWARD MAILS.

WEEK DAYS.

FOR

FROM G.P.O..

FROM SEKUNGWAN BRANCH F.O.

4

Latest Sales. €7

Canton,

€ 7.15 2.2, de 7,80

17:00 p.m. 10.00 pz.

SUNDAYS & HOLIDAYS

FROM -FROM- BE UNOWA G.P.O, ВРАХОН

P.O.

(7,15 km,&] (7.30 am, &

5.00 p.m.

17.00 p Sundays Sandays p.m. only 7.00 pm.

Lonly

8.50

481

101

3

Macao & Tainabian"

Nona

$7.15 am.& (7.30 mm. 1.15 p.m. ||1.30 p.m.

30c, A

None

6.B

Electric Bond and Share...

Kongmoon (except Baturdaye) 6.00 p.m. Kaukong (except Batund

6,00 g.ID.

8.15 mm. Lonly

6.00p.m.

6.00 pm

(7:15 am, & (7,80 m. &

1:15 p

1.80 p.m. 7 Sandaya Bixadara

8.20 Lonly

8.00 pm. 6.00.p.m

None.

38

Goodyear Tire and Rubber.

General Motors General Railway Signal .... Gold Dust

30

Fataban (By Train)

7.15 am.

Tal 0.

Tai Po

Shunchun

9.00 am

$ 9.00am &

7.1.5 BIO. 9.00 0. 0.002

18.00 p 19.00

21.08.31.

International Nickel

& 4.30 pt

Montgomery Wardouro

None

14.80 p.m.

Aberdeen

8.30 கூ

8.80 8.2

Stanlay

1.00

O putza,"

1,00 Pedia

Antau, Pingishan, Bautin

'Shatin, :'Shatankok..., and

Sheangahul

8,00 105,

∙10,30 8.20).

Balkung****

4.80 pz.

4.30 p

Samtan, Bhakki & Taiping

7.00 p.m.

̈ ̈(Pamis):

~~Erie" Railroad “...............

Granby Consolidated

International Cement

Nevra Consulidated Copper Radio-Corp

Bears Roebuck & Co. Simmons Co..

Standard Oil of New Jersey Standard Oil Co. of New York Union Carbide and Carbon... United States Rubber United States Steel

11.00am

4.80 p.m

Baigon, Straits, Ceylon, India, Marttine, "East and South Africs, Adang Egypt and EUROPE vis Marseilles - due Marseilles, 27th September and

Manila

Japan, Honolulu #San Fran #South American. Ports Manila

***

Straite, Ceylon, India, Mauritius, East”

and South Africa, Aden, Egypt and EUROPE TÍA, Marsnillegundos Márs sollies, 27th September:

Protendasa

Pres. Polk

Mariang

Namang

Hatyany

Angers

Prea Cleveland'

Ginya Maru Emp, of Canada. “

Kashovir

*Emperscribed "correspondence only.

Pacoals 6.00 PM Reg.,22nd,9.45 AM Letters 10.30 ́AN

¡Friday," £2ad,

8.30 ▲ x 10.00 AM ,.1.00 RM

*3.80x

Kowloon P.O

480 r v

Let 23rd, 9,00 a.x

G.P.O. Beg, 23rd,3.45 AM Letters 830 AM

Saturday, 23rd, Reg.

9.45 & M

Letters 10.30 M 5.00 PM

Monday, 25th,

10.30 AM Parcela Noon Letters 1.00 M

Tuesday, 16th,

1.00 x M Kowloom P.O: Bag. 100 M Latters 1.00 M

G.P.0.

Reg. 1.45 Letters 2.50 x mỤ 4.30 *

Wednesday, 27th

Friday

10.30am

3.80

Koncicon P.O. Farcela 4.80 1 Bøg: 80th,9,00 Letters* *210,00 a m

GP.O

K

| Par,29th, 5.00 » Me

| Beg,,30th,9,45 am

Letters 10,80

P. O. Box 1, Hong Kong.

the Address. Write an Order for -sent you ookly dress for Three Months or Thirty Years, The first will cost you $4.00, and the Annual Subscription is $16.