1930-08-30 — Page 12

12

Money and Markets

HONG KONG SHARES.

BENJAMIN & POTTS' WEEKLY REPORT.

The past week opened rather quietly, but now the August Settle ment is over, there is a noticeable

RUBBER

4d. "PER POUND?

TAPPING HOLIDAY

INEFFECTIVE.

The Qity correspondent of the Manchester Guardian writing in London on August 6 says:-

Mineing Lane professed to est

expansion of business and rates for most stocks have hardened in sym- pathy with the demand. Although

new law "record" pries irregularity will probably charac-ablish a terise the local market for the next for rubber to-day, when some toos few weeks, there is cause far be- of the commodity changed bands at lieving that its immediate future 5d. per pound. This was a spot transaction. Several toas were will be more encouraging.

Danks-Hong Kong and Shang.dealt in at 4-5/168. per pound, but hai Banks were dealt in at the cut this was for delivery during this set at 81,125, but since the recovery month and ranked as a deal for in the London price to £10T

forward delivery. Outside (Middle), the market has strength-

the ened and there are buyers at $1,465. Rubber Exchange there were" eam

Marine and Fire Insuraners-unieative dealers telling City Both Cantons and Hong Kong journalists, that rubber, has never Fires are in strong reqnest and are enquired for at the enhanced rates been so cheap, but in the offices or

HONG KONG DAILY PRESS, SATURDAY. AUGUST 30, 1930.

CANTON BANKS LOAN

CONTRIBUTION.

PROTEST AGAINST. DİS- CRIMINATION.

[FROM OUR OWN CORRESPONDENT.)

CANTON, August 29. The banks in Canton are strongly procesting against the Government's decision to make them take up bonds for the new $15,000,000 lenn which is being floated to the extent of 3 per. cent of their registered capital They contend that they are being discriminated against, since all the ops and stores in the city are re- quired to take up 3 per cent, only. They fail to see why they should be made to take up an additional 2 per cent They further argue that they have been shouldering the the financial responsibilities of Government considerably more than other firms. They are now practi- cally crippled and are rot in a position to take up these new bonds

to the tune of 3 per cent. of their capital.

of 8355 and $1,000 respectively one well-known brm of brokery estreplied to this appeal of the banks. without attracting any sellers.blished last century hangs a fram Unions have again been put through

at 8440 and $449. China Fires are ed price-list that shows rubber to

still wanted at $409. Underwriters have been sold' freely at 20: per CANTON CEMENT FACTORY. are higher with buyers at $2.80 and sales reported at $2.90.

pound. This was in February, 1946, when Brazil supplied the world with its rubber.

Shipping. Douglas Steamships are much firmer and were placed at S. Steamboats are in demand

Mincing Lane men are now won- at 895.Shell Transports have receded to 37/- Waterboats are undering if there is anything to stop changed.

spot rubber dropping to Ald. or Docks, Wharves and Godowns. oven 4d. per pound. Apparently Kowloon Wharves, after weakness the month's stoppage in May, when in the early part in the week have tapping was almost suspended, has reacted to a higher level and a dercand for the shares has since done little to reduce stocks here or raised the price to 8185. China supplies sent direct to America. Providents changed hands to a fair

It would seem that producers mere- exteal up to 864. A small declinely tapped as much rubber as pos. has occurred in Whampoa Docks to sible before the May holiday and $38. Hongkew Wharves continue ever since. Last week London's Shanghai warehoused stocks, at 80,379 tons, it request at Tls. 200. Docks have lapsed to a nomina! showed the first. decline since the quotation of Tis. 118

beginning of December last year, but it was only a matter of 485 tons. In Liverpool 28,404 tons are in warehouse, against 4.062 tons a year ago.

Lands, Hotele and Buildings Hong Kong and Shanghai Hotels were dealt in to some extent round about 810). Realtys have weakened

a little and were sold at $9. An With rubber prices at their cur- improvement is to be noted in rent low level many of the planta Hong Kong Lands which have been the medium of a fair turnover at 880. The Rights are wanted at $18 Humphreys Estates are still on offer at $16. "Shanghai Lands are unchanged. |

Publie Ctilities-Hong Kong Electrics have appreciated and wese booked at 878 and continue in re quest. China Lights (Old) further advanced to 8242, but closed easier with sellers at $21.60. Hong Kong Trams are on offer at $18 ex the Interim dividend of 40 cents just paid. Peak Trams (Old) can be Blared at $12, Telephones have continued their upward movement and buyers are now offering 8353 and $23 for the Fully Paid and Partie Paid shares respectively. "Star" Ferries at 885 continue neglected.

Miscellaneous. - Green. Island Cements (Combined) are obtainable at 917.30 after sales at this figure, Hong Kong Ropes were done at $10.70 and

continue in request.

China

Dairy Farms were realised again at $251, but have since stiffened and can be placed at 8254. Sugar's have been the medium of a fair amount busincas up to $1.40. Watsons after having touched 811

are now wanted at 811.93. There are buyers of Hong Kong Govern- ment Loan. at $108.

ing at a loss. It is becoming a tions in the Far East are produc- very serious matter for companies that have not succeeded in materi. ally reducing costs of production, When a similar thing happened several years ago seme Americans bought plantations that were on the verge of bankruptcy, but in these days it pays Americans much better to buy the cheap rubber available here and at the Far

Eastern shipping ports.

Bri-

DAILY SHARE QUOTATIONS

HONG KONG STOCK EXCHANGE.

SHAREBROKERS' ASSOCIATION.

BuyersBellere Baise Solar

FRIDAY. AUGUST 29.

Buyers Bellers Salus aminul

Banka

$1,485

!!!!!

3:199

£1073

013

LEST

H.K. Banks

FOREIGN MAILS

RADIO NOTICE.

Jadividuals and Arms are recommanded to register their talo- graphic address at the Radio Office. No charge is made for this.

· MANILA SA

MANILA

STRAITH

SAIGON

יזי

Nanchang

INWARD MAILS.

$1,440

Do. (London)

Faux

Prz

Doz

Chartered Banks

£17

Mercantile Bs. “A”

298

£1

Doi

*C*

212)

Bank of East Asia...!

$115

Shanghai and Amur SHANGHAI and Swarow SHANGHAI and AMOY

Both Aug

Bunning

90th: Aug,

Tronidari

31st Aug.

Insurances

Pres. Oleveland

Emp of Canada...

1st Sept.

1at Bopt.

$955

$3.80 1.180 $458

3400 $1,000

Canton Insurances. $900 Underwriters

Jab Bapt.

$2.75

Geni, Matsinger ---

lat Sapt

$44$

North Chinas......... Union Insurances... 5430

T160

JAPAN 100 JAPAN...

Sydney Maru

2nd. Sept.

Tanda

3rd Sept.

M.850 Yangtans Insurances

Tibor

3rd Sept.

China Fires ******** H.K. Fires.....

$400

Oldekerk...

6th Sept

3985

Pros. ¿Sams

7th Sept.

Shipping

Pres. Pierce

8th Sept.

#281 325.10

Douglases

3221

...St. Alban

8th Sept.

Steamboats

$43

Indos (pref)

Do. (def.)

$43 $10

87/0

Shell Tisnsporta, ---

93/7

Water-boatsomaan

$31

Mining

Benquets.......

2013

Kailansangan

98/8

The Government has not as yet

Langkata (comb.)...!

T14.40

T.SI

Do. (single) .-•

$7.40

T1.30

...Explorations.

T:8

Shanghai Loans

T6

$29

Raubs

Tronoh Mines

21/

Docks, Wharves,

Godowns, etc.

$166 $168

851

ELE. & K. Wharfs... $164

$5.20

Provideats

$5.20

H.K. Docks

7.118 Shanghai Docks

2.71

Hongkewe

CAPABLE OF PRODUCING NEEDS OF SOUTH CHINA.

[FROM OUR OWN CORRESPONDENT.Į

T.260

$791

12

$131,

$9

$91

$18

New Engineerings

Lands, Hotels, and

Buildings

·H.K. & S. Hotels...$10.60 H.K. Lands cam. r. 87

Da, ex rights $73 Do

rights $1

T.297 Shanghai Lands

H.K. Realtys. Humphreys

That

| 791,80)

$75

CANTON, August 29.

which has been under construction The Government dement factory, for the past two years or more at Sai Tsoon, on the western suburb of Canton, is expected to be ready $10.65 $10.70 for operation six months from now, according to Mr. Tang Hung Yee, managing director of the enterprise. The greater part of the machinery has arrived from Copenhagen and is now installed, and the remainder is on its way here. The site oc cupies an area of some 40-mote of land, and many of the buildings thereou, including the workmen's T11.00 T1215 11.90/19 quarters, have already been complet ed. Cement of the best quality s expected to be placed on the market

next March.

44

TIRER

M

It

SOURABAYA ... SHANGHAI

U.S.A., HONOLULU, JATAW and SHANG-1

HAI (San Francisco, 8th August) U.B.A., Honolulu, Japan and SHANG-

HAI (San Francisco, 15th August)...) AUSTRALIA and Manica

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 0 mm. registered and parcel mails are closed at 3 p.m. on the previous day.

FOR

PER

DATX and TIME

Bog

Kashmir

its, Caylon, India, Mauritius, East and South Africa, Aden, Egypt and EUROPE via Mareillesdzë Mar-, seilles, 27th September

Hoihit and Bangkok...

Shanghai and EUROPE via Siberia

Swatow, Amor and Formosa...

Bangkok via Swatow...

Kiungchow Danang...

Pres. Madison Henkor Sunkong..

Anking

Saturday, 30th, Kowloon. P.0.

9,00

Letters 10.00 A M

G.P.O. ¡Beg. 9.45 A Letters 10.50 x

11.30-

3.00

$39-

7.116

Manila

T

Saigon...

Fort Bayard

Amay

and S. America and EUROPE via

Shanghai, Japan and *EUROPE via Siberia Genl. Matningar.. Brator...

"

"

4.30 PM -500FX

3,00 PM

5.00

Sunday, 31st,

9.00 A 9.00 A M SEPTEMBER Monday, 1st, Parcela 11.00 AM

Canton Maru Кокзаль

*Shanghai, Japan, Canada, *U.S.A., *C. }}

Pres. Cleveland

1900.

11.00 A

per

2.10

318.40

Victoria, B.C.due Victoria, B.C., 19th September

Letters

Noon

$67

Chinese Estates

Feochow

Ohanar

Noot

ΠΡΟΣ

Cotton Mills

Hydrangea

300 FM

Ewas

T.12 T.12

Tuesday, 2nd.

T.83

S'hai. Cottona....

T.30

Manila and Java via Sourabaya

Trisondari

T.94

Loong Sings

T9:30

Swatow, Amoy and Foochow...

Haiching

Manila, Australia (accept Thursday Island):

and New Zealand"vis -Brisbane-due

Sydney Maru.

$18 $12 $6.95

$18.10 ex dir.

484

:

under foreign expert supervision. The whole work is being done The output of the factory will be 1,300 barrels of cement a day, work- ing on 24-hour basis. This amount, according to the promoters 324.40 $24.60 $241/60 of the project, will be sufficient to

$78 $781 378 supply the needs of South China.

11

NEW YORK STOCK EXCHANGE.

While rubber is so cheap the coloured producer, who works on the most inexpensive lines, stands to make small profits, hence the during May when the most import constant stream of rubber supplies ADVANCE IN INDUSTRIALS. ant producers ceased tapping their trees. In Ceylon there are tish rubber planters who can cut down costs, get 4d. per pound (London) for their produce, and yet make suficient proft in lenn times to make both ends meet. The coloured plantera in Ceylon can do with 3d. per pound. It is the rub ber company in Ceylon or Malaya, with directors and offices in Lon don, that must work at a loss if current expense, cannot he still further cut, down.

[UNITED PRESS.]

New York, August "23.-Under the leadership of U.S. Steel, the New York Stock Exchange was firmer to-day and the whole list of industrials advanced, says the daily review of the Dow Jones Financial News Agency,

$307

Public Utilities

Tramways..........

Peak Trams (old)...

Da (now)...

$18

Star Ferries 283

C. Lights (old)...... 824). Do. (new) l

****** $78

Telephones (fully pd.)

Do, (part pd.)" $23† Chinus Buses..................

Tractions odajust

H.K. Electrics

323

Macao do.

$113

Sandakan Lights

$231

7.183

19/-

Do. (pref)

$29

+44

$255

BI

Industrials

T101 Caldbeck, 1(ord.)

TIQ.40 Macgregors J (pref.}}

Canton Ices

Dairy Farma....

Chin. Entertainm’te.j Constructions.......

In

$12)

$64

$215/60

$78

Aging i

6/9

Brisbane, 16th September

Straits, Ceylon, India, Mauritius, E. and

8. Africa, Egypt and EUROPE via Sarpedon Marsailles--due Marseilles, 1st Oct. ...

....

Hangrang Trinan

tar

10.30 A

1,00 Beg 415

¡Letters

3.00 Kowloon P.O.

LLattere .4.30

4.30 PM

Raz

G.P.J.

Ber

5.00

Bwatow... Amoy

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

8. America and *EUROPE via Yaz couver," B.C.-due Vancouver, B.O.. 19th September

Foochow via Swatow ....

Wei Hai Wai via.Swatow and Foochow Sandakan

Manila, Sandakan, Australia, and New)

Zealand via Thursday Island - dae Thursday Island 20th September Swatow, &moy and Foschow...

Letters 800 PM

Wednesday, 3rd,

8,3020 480

Parcela $.00 P Emp. of Canada Tharaday, 4th.

Reg.

9.15 * Letters 10.00 a m

Thursday, 4th.

$.00 PM

5th,

Kutsarg

PATCala

10.80 A M Noon

Lettera 145 » ■..

2.30 T

3.00"

Saturday, 6th,

Ohip Shing

SLIGHT IMPROVEMENT IN SITUATION.

$2

$11.90

Cements (comb.)...

312

Do

(old)...

$17,80

$13

Xucichow.... Hinnang

Friday,

10 30

***

$5%

Do. (new)....

Tanda...

34

$10.65 $10.80-810.70

$12

Bopes

$10.60

$10.70

Lotters

$11

China Sugars...........

Haiyang sự

13

+2

A

#27

Malabon Sugars ...

$29

United Asbestos” .....

Miscellaneous

Hoihow, Pakhol and Haiphong Rabau!

Tran Bremerhaven

8.30 1 Noon

DAR

$25

Monday,

8th,

$26

Der A. Wings......... Amusements

Amoy

Yuen Bang

3.00 ▼ M

520

$10

Tuesday, 9th,

4.

$10

$1.85 $1.80

81.90

$24

Lane Crawfords ... Mackintoshs

...$1.70

Straits and Calcutta

Parcels Letters

Noor

1.00 M

$4

5111

$12

8%

prom.

$2.86 Wm. Powolls 62. B. Ind. G.8 Bonds... 61%

H.K. Gost Loans ...

$21

$108!

QUOTATIONS. ..

New York, Ang. 23.

International Cement International Combaston Eng.

67 Muti.

Matl. 54

International Harvester.

International Nickel

International Tel & Tel

23 2528

Johns Manville

Konnecott Copper

341 34

27231

24 241

971 931

71 72

24.23

321 321

$187

+4

The Dow Joncs average wag off Both Dutch and British proda- 21 to 234.45 for 30 industrials but cers have faced the situation and S. Steel. closed up a half to 169), Cotton Mills-Ewes have had a made public their view of the fu- Bethlehem closed up a half to 81, slight relapse and were sold at Tis. ture. What they want is joint ac Westinghouse was up 14 to 143, $11.60 11.00 and Tls. 19. Shanghai Cottion between. their Governments General Electric was up to 71 and $11.95

and another official scheme to re American Waterworks, was up an tons are steady "nt Tis. 83.

that eighth to 50%. guinte rubber supplies so stocks will dwindle and supplies Radio Corp. was active and prov- be kept down to balance the lea ed a favourite with the traders. sened demands of the world's rub- The Dow Jones average for 20 her users. Rubber Freetraders pre-atilities was up 39 to 84.48. with fer a survival of the fittest com America Tel & Tel. up a quarter panics to another trial of rubber to 211, International Tel & Tel. restriction.

ap ac eighth to 448. Public Ser rice of New Jersey up to $1, Columis Gas up to 60 and Con solidated Gas up to 1063.

Rubberi. The price of the raw material has weakened to 44d. per H. and we append the latest cabled quotations received from Shang- hai:-

Anglo-Javas Anglo-Dutch Batu Anams

Chemers

Consolidateda

Kroewocks

Ropahs Tanah Meraha

Buyers

$3.60

3:20

.40

2

1.20

2.03"

1.30

..93

دار

Chief Judge of the Provincial 1.00 Supreme Court, has been organized for the purpose, The Committee has its office in the Industrial and Commercial Bank building and has been going over the books of the firm for sometimes

- 5,00

Tebonga Ziangbes Exchange-The T.T. rate on Lon- den is 1/32 and on Shaighai 894. Forward Settlement Days, September 20 and October 28, 1930.

In order to facilitate matters and to secure justice to those concerned, the Committee has decided to in vite the creditors and shareholders to come to the Bank and register, stating the exact nature of their connection with the Bank This registration must be done sometine during next month. After that. COMMITTEE ORGANISED IN most likely a creditors meeting will

INDUSTRIAL AND COMMER- CIAL BANK.

CANTON.

[ZOM OUR OWN CORRESPONDENT.]

be called.

Loews featured the amusements. Warner Bros. Pictures closed up a quarter to 251, Fox Film "A" was up

to 44 and Paramount-Publix. Corp. was up to sak.

Further trade reviews made pub lic to-day showed evidence of alight improvement in the situation, and brokers began making specific re commendations on a basis, of the new data. Many predict a definite advance in September as a welcome release from. current hard times.

The Dow Jones average for 20 rails was up 1.16 to 126.02. New York Central was up 1 to 100, Pennsylvania was up a half to 791

Canadian Pacific was up to 173 and B. & O, was off 11 to 05:

The Committee, after going over the accounts of the Bank, states that Among the coppers, AnaconD S the Baak bad leaned out over rose half a point to close at 451, 3170,000, of which over $50,000 has Kennecott was up to 247, Calumet bern collected and placed in the & Hecla was up an eighth to 139 FARION August 20. The Canton Government through Central Bank of Onun Yi Cufriomretherard the Provincial Supreme Court, is The balance is being collected. But an eighth to 18

General Motors' closed at 45, the taking stops to clear the books and against this the Banic owed its accounts of the. Canton branch of creditors over $500,000, being the same lavol as yesterday. Chrysler the Industrial and Commercial amount of deposita placed with the was similarly unchanged at 234 and Bank, which went into bankruptcy Bank. The Committee expects to Packard at 10. Goodyear Tire sometime ago following its head have every account cleared up with rose 14. to close at 604 and U.S. office in Hong Kong. A Committee in a month, after which the credi- Robber was up an eighth to 201, headed by Mr. Law-Man Chuan, tors and shareholders may expect (Continued at foot of next column.) to receive what is dus to them.

Sales for the Saturday half-day | Bession amounted to 600,170 shares.

Nanyang Tobacco... Hincere cómouyada

Watsons ***+49) «******

Market firm. Business done, 1,355,000 abares.

Ang, 21

Adams Expres..

American Can, ya

American & Foreign Power American Bolling Mill... American Smelting American Tel, & Tal. American Tobacco B American Waterworks... Allaconda Copper Atlantic Refining Baltimore & Oblo Bethlehem Steal- Borg

Calumet & Becia Canadian Pacific Ballway Chicago Rock Islnd Chrysler...

Cities Service Common........ Columbia Gas & Electric Columbia Graphaphone Commonwealth & Southern Commonwealth & B. Warr Consolidated Gas of B. Y. Continental Oil

Corn Products

Curtiss Wright, Common Da Pont de Nemours. Eastman Kodak...

Mectria Bond & Share..

Fox Film A General Electric General Foods General Motors General Ballway Bignal Gold Dusk red, Goodrich Bubber Goodyear Tire & Bubber: Granby Hershey Chocolato

126 1274 Kreuger & Toll...

70 701 Kroger Grocery...

554 Liggett & Myein “B”

- 65

664 661 Low Inc.

211 211

Ladium Steel....

262 2561 Montgomery Ward

784 781 21+. 224

Math. 801 Nerads Consolidated Copper... Mutl. 19

48 45

New York Central

381 864

Pacifio Lighting

881 971

Pickard Motor Car 801-801 Paramoant-Publix Corps. 29 Mutli Fennsylvania Railroad 131 18 Penrod Corpn. 170 1721 Phillips Petroleum Pablis

Service of N. Jassey 95.95 2328 Radio Corporation

Raido Keith Orpheum Reynolds Tobacco B′′ Boats Boabpek

· 274 - 271:

18:131 13

181

Shell Union

Mul. 31 Simmons Company

Southern California Edison 105 106 Standard Gas & Electric

19 19

20091

Standard Oil of

Naw Terwy

O

7! Standard Oil of New York... 113 1151 Texas Corporation

1073 2101 Texas Gulf Sulphur

79 80 Timken Roller Bearing

Į Union Carbido & Carbon:

60-70

55 55

Matl

Union Pacifio Hailwaylın

United Aircraft & Transport

152 165)

761 751

18) 18

69......681

719

10

10

917 517

40 305

зарны

ett 511

"Superscribed correspondenos only.

AMERICAN STOCK QUOTATIONS.

LATEST WALL STREET PRICES.

The following quotations Eave been received from their cor respondents, Messrs. Hayden, Stone & Co., of New York, by: Messrs. Swan, Culbertson & Fritz, Sassoon House, Shanghai, (cable address: "Swanstock," Shanghai), who are not responsibla for cable mutilationska Tone of market.-Irregular. No, of sharce done.-1,500,000.. Call money per cent.

American Smelting

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

Electric Bond and Share

NEW YORK, August 28, 1930.

-Latest Sales:

60 44-5/8

InstTM Dividend.

4

3.50

3

None

30c. A

29

·210-

None

5B

81+

614

2525

Erie Railroad ..... General Motors

None

20

General Railway Signal

984 1011

Gold Dustusimi

2

70

Goodyear Tire and Rubber Graaby Consolidated

International Cement

5T

212-211-

United Goa & Improvement ... 354 861 United States Rubber

40 Mutl United States Steel

2212221

Vanadium

01253: Warner Bros. Pictures Westinghouse E. & M.

23

021

95 Hut

Woolworth

International Nickel Montgomery Ward

Bears Roebuck&Co. Simmons Co.

Standard Oil of New Jerse Standard Oil Co. of New Yor Union Carbide and Carbon..

United Aircraft and Transport. United States Rubber ............. United States Steel

2.60

101.

·20