1933-04-07 — Page 13

HONG KONG DAILY PRESS, FRIDAY, APRIL 7, 1933

MONEY AND MARKETS

AMERICAN ORIENTAL FINANCE

CORPORATION

through its Agent

Asia Lands Limited

Gloucester Building

offers s COMPLETE

BROKERAGE

SERVICE

in

NEW YORK STOCKS. Full and Od Lots of listed Securities bought and sold for cash or carried on conservativo margin.

Phone 28380.

REHABILITATINC OF SILVER

THE FORERUNNER TO NEW PROSPERITY

London, Mar. anticipation world's

London,

over

There is kren tion of some of its normal" value the proposed, to make increased purchasing power economic conferences in immediately available and active,

"The beginning of buying in the East might easily prove like water poured into a pump to restart, its activity."

Sir Robert Home, former Chan- cellor of the Excheque leads the! party which is eager for the ques tion of the rehabilitation of silver to be included in the progranume.

Sir Robert is confident that re- habilitation will easily prove the

Sir Robert is reported to have most rapid forerunner of prosper- snid It only required the restora-ity.

ITALIT

ASBESTOS-CEMENT

CORRUGATED & FLAT SHEETS

PERMANENTLY WATERPROOF

FIRST Cost is ONLY Cost

SHEWAN,

TOMES & CO.

SOLE AGENTS.

A FEW REASONS FOR BUYING

WAKEFIELD

CASTROL MOTOR OIL

1. Because 239 Manufacturers recommed its use.

2.

3.

6.

7.

every motor car race last year was won on Castrol. every important motor cycle race was won on Castrol. Castrol leads in the airway, the fairway, the highway and the byway.

THE EXCHANGE MARKET

MESSRS. ROZA BROS., REPORT

Silver prices rose 1/16 yesterday for both deliveries, the quotations being 17.3/16 for Ready and 17 for Forward: Silver advices reported the market is being featureless, America bought. China Banks sold.. The tone at the close was steady, In America the rate was quoted at 27 for Spot.

The New York/London cross-rato was slightly higher at 3.42).

Official rates were unchanged this morning.

Market.

Quiet, the tone was inclined to steadiness after the. opening but later ensed off following Shanghai,. Starling.

The market opened with sellers at 1/3.23.39 April leading to some business at 1/3.13/16 April. Later buyers came out at 1/3.25/32 for cash resulting in a small transaction at 1/3.24/39 second half April. The market closed at lunch time with sellers at 1/3 April, 1/3,25/32 May and 1/3.13/10 June, buyers at 1/3.25/32 April, 1/3/13/10 May and 1/3 June.

Gold Dollars.

A small business was done dur- ing the early part of the morning au 22 May. There were sellers at 22.7/18. April, 2.0/18 May and 22.11/16 June, buyers at 1/8 higher respectively.

Yen, Merchants were quoted at 1044 for near delivery.

Tásls. Sellers at 77 for cash, buyers probably at 1/8 higher.

Shanghai.

Quiet. Early advices Indicated sellers ut 1/62 for near delivery. Subsequent advices indicated the tone as being easier with business reported at 1/8.3/10 April.

noon.

IN THE AFTERNOON.

In Sterling business was reported at 1/3.25/32 for near delivery, finishing with sellers at 1/3.23/32, April, 1/3.13/16 May and 1/3.27/32 June, buyers at 1/32 higher respec- tively.

HONG KONG STOCK MARKET

YESTERDAY'S OFFICIAL

REPORT

Dullness again prevailed in mar- kets generally throughout the day, but rates wery well maintained

The sales reported up to the after- noon Session were on a very strall epale.

Sales,

Hong Kong Banks, $1,715. Union Insurances, $500. Douglases, $33.

H.K. & K. Wharves, 8129). Hong Kong Lands, $72)/72). Hong Kong Trams, 8913. China Lights (Old), 819,20, Hong Kong Electrics, 871). Cements (Combined), $6.90.

Buysta.

Canton Insurances, $1,360. Union Insurances, 8857). Douglases, $39).

H.K. Steamboats, 822. Raube, 60.10.

H.K. & K. Wharves, 8130. Providents (Old), $4.05. Hotels, $7.

Hong Kong Lands, $79. Chinese Estates, 895. Ewo Cottons, TIs.. 11. -- China Lights (Old), 8i2.2. H.K. Electrics, #71. Macao Electrics, $25.35. Telephones, 827.50. Cements (Combined), 87.05. Cements (Old), 851. Lane, Crawford's, 84. Sinceres, $161.

B. Ind. G. 8 Bonds, 68 per cent. H.K. Govt. Loans: 8 per cent.

Premium.

Sellers. Providents (Old), 84.15.

CREDIT ANSTALT RECONSTRUCTION

Vienna, March 30.-A most in-

The market was quiet in the after.portant decision regarding the se- ourity of foreign creditors in con nection with reconstruction of the Credit Anstalt has been reached by Germany agreeing to implement

draft the

agreement whereby companies will holding

ba formed of which the foreign credi: tora will hold a portion of the capital. The government stipulates that the head executive must be an. Austrian and rejects a redemption schende providing for payment of obligations in seven annual instal-

Gold Dollars.

The market closed with sellers at at 22.7/10 April, 22.9/16 May and 22 June, buyers at 221 for near, 23.11/10 May and 223 June.

ments.

NEW YORK STOCK EXCHANGE ASIA LANDS, LTD., QUOTATIONS

(INCORPORATED IN HONG KONG.)

Tel. 28380 Gloucester Building, Room 306.

{REUTER'S AMERICAN SERVICE]

New York: April §.

Dow Jones Averages:

30 Industrials

High-1932 88.78

Low: Apr. 4

41.29. 56.09

Apr. 5 Change 67.51 1.42 up

20 Rails

41.30

13.23 $4.50

20 Utilities

36.11

40 Bonda

83.96

16.58 19.33 65.78 73.78

23.84 19.53 73.55

.91 down

.20 up .sa down

Asia Landa, Limited, has received the following report from their New The heavines of rails has York correspondente, E. A. Pierce & Co. disturbed the whole market. We think the action of industrials isKTOS, considering the carrier weakness, is quite encouraging Wheat rules strong on commission house buying and further talk of insation. Cotton is hesitatingly higher in sympathy with wheat. In the sliver market foreign cables have been steadier. The spread between May and the more distant months is widening, due to liquidation of long positions and to switching. We think there is little danger of a repeti- tion of the early March situation as regards bank stocks, though major bank legialation has not yet been whipped into shape. In the mean- time we thing it better to wait and see what the Government will do towards readjusting the banking situation. Business Done: 1,140,000 shares.

HIGH

1932

"Div

LOW PER SH,

841 30 3.00 Air Reduction

891 42+ 6.00 Allied Chemical & Dye

4.00 American Can.....

7079.00 American Tel. & Tel

Apr. 4 Apr. 5

856

77

78.

304

671

10

90

B"

ath

014

33

ZI

91

Anaconda Copper Mining-

1.00 Chrysler Motors

4.00 Consolidated Gas of N.Y.

3.00 Druzs, Inc.

Weekly Sailings Transpacific

To San Francisco, Los Angeles & New York

via Panama

Pres. Makinley

To Seattle and

Victoria

13.

Fortnightly sailings on Saturdays.

Fortnightly sailings on Wednesdays

Apr. 12, 1a.m.

Pres. Jefferson.....

Apr. 16

Pres. Coolidge

Apr. 26

Pros. Cleveland

May - 8

Pres. Lincoln

May 10

Pres, Taftémata

May 24

May 20

Pres. Wilson

Pres, JeffersoD..........................

Jans 3

Juno 7

Pres. Madison

...Juzo24

June 91.

Pres. Hoover

Pres. Coolidge

ROUND TRIP FARES TO EUROPE & AMERICA,

Special through rates to Europe vis United States. Direct connections with all Atlantis Hues, Choide of rail lines across United States and Onnada, liberal stop-over privileges for Sight-seeing. Full particulars upon application.

Fortnightly via Suez to Europe & America

Fortnightly sailinge on Saturdays via Manila, Straits, Colombo, Bombay.. Buez Canal, Alexandria, Napise, Genoa, Marseilles, New York and Boston:

Pres, Monroe.a.....................

Pres. Van Buren.......................

TO

8am.

Apr. 18 Pres, Garfeld ..Apr. 29

fres Folk

MANILA

Next Salling ....................... Pres. Jefferson April 8, 6 p.m..

Pres, Monroe ..................

Pres. Coolidge..........

Pres. Van Buren

Pres. Cleveland....

.Apr. 15

Prea. Lincoln

.Apr. 18

Pro. Cleveland

May 8

Apr. 29

Pres. Taft, May 13

„Apr. 20....

Pres. Hoover

Connecting with 8.8. MAYON To OEBU, ILOILO, ZAMBOANGA.

DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE

CANTON BRANCH-4, STAKES STREET.

BARBER WILHELMSEN LINE MONTHLY SERVICE

To

PACIFIC PANAMA-ATLANTIC COAST PORTS. CANAL ZONE. COAST PORTS. Agents:

DODWELL & CO., LTD.

Queen's Buildings.

44 PER CENT. BONDS POPULAR

TOWN BANKS APPLY FOR

·OVER Y30,000,000.

cent.

INDIAN COTTON DUTIES

JAPANESE TRADERS THINK ON EXTRA TEN PER GENT. IS LIKELY.

ཎཱ་

Tokyo, April 1-A sensation hag been ruined by the report, given in yesterday's issus, that after ex Tokyo, April 1-The new 43 per tending the period of the present

bends are popular. The Legislative session to Aplik Bank of Japan has already re- Indian Government has decided ceived applications from town submit an anti-exchange dumping

tarit bill. The conserius di opin banks for over 130,000,000,

Now that the Goverlinit has refon here is that though an anti- paid Y200,000,000 worth of treasury exchange dumping bill, it will Hot bills, town banks evince a greater, cover pil Japanese goods, but only interest in national bonds.. Of the cotton goods.

Jabove Y30,000,000 applications, "It The Indian Government on March is reported, the Bank of Japan 1 raised its duty on rayon goods has so far met Yi8,000,000 at the from 50 per cent, ad valorem to official quotation of Ye8.50. Very four anna per square yard (equiva probably the Bank will sell inore. lent to 120 per cent.). The new

As regards the old sà per cent. gnty is already prohibitive. bonds. Issued in December and Japanese cotton traders January, the Bank of Japan is keenly watching proceedings in the most importans still refraining from any sales, as Assembly. The

are

it is anxious to fix its marketing point is the extent of the new quotation after seeing the effect of duty. The present rate of ex the new issue on the market. Ona change is about 82 rupees, and report says that as the market in. compared with the par of 153.637 dications for the old bonds are on rupees, shows a drop of nearly 48 the high side, and the Bank or per cent. Owing to the depreciat Japan may consequently hx its ed yon, the Indian Government quotation at a comparatively high raised the cotton duty from 31.25 per tant to 50 per cent at the level, banks are not very enthusias

end of last year. Most traders. tic over these investments.

here are inclined to think that tha new anti-exchange dumping duty. will be fixed at an extra ten per cent. Japanese goods have been feeling the competition from Lan hathire of ben so any addi tional duty will be a serious blow. ́UNCLAIMED TELEGRAMS.

EXCHANGE CLOSING QUOTATIONS

ON LONDON:-

April 8, 1973."

Telegraphio ransfer... 1 Bank Bills, on demand (1/3) Bank Bills, 4 months'

Oredita, 4 mødths.

night

ON NEW YORK:-

Credits, 60 days' sight.

737

209

137

891

44...

6.00 American Tobacco

19#

1512

201 2.00 Auburn

43

181

1.60 Borden Company

Canadian Pacific

208

21

-57

which

592

2.00 Du Pont de Nemours

35

5.00 Eastman Kodak

87

6 s. Electric Bond & Share

201

0.40 General Electrio

12

10

9.00 General Foode

948

1,00 General Motors

1, Gillette Safety ....

12/

ON INDIA

921

Telegraphio Transfer...

7:00

(Preferred)

50

Bank on demand

851

On Shanghali-

400 Liggett & Myers

B...

80

On Demand

100 Loew's The

107

ON KORE

Montgomery Ward allodgi

13.

On "almand

109

2.80 National Biscuit..... 9.00 Paid Gas & Electric

ON MANTRAFIC,

201

On demand

·167

ON SINGAPORE IMAGE

Castrol is sold by the imperial gallon of 9 lbs. is 20% more than the American or wine gallon. Castrol gives you the correct quality and quantity. Castrol is the product of a 100% British Firm not connected in any way with any Trust or Corporation. Castrol holds up compression on hills and gives that power

which is necessary to a perfect running engine. Castrot reduces friction to a fraction.

Wholesale Distributors:

ROBERTSON, WILSON CO., LTD.

David House, Hong Kong.

0.80 International Harvester

International Tel. & Tel

0.50 Pennsylvania Railyay

Radio CorpE, MON

Seara Roebuck

1:00 Standard Oil Co. of New

Jersey yann

0.40 Bocony-Vacuum Corpa. 1.20 Union Cachide & Carbon 0.00 Union Pacino ......

United States Steel Weltingbonée E. & M.

86 87 88 3

ON PARIS

***Bank Bills, on demand 167)

Credita, 4 months' night 597,

ON BATAVIA 1

ON BANGIOK:

On "demMEO

ATTER-GRI

TELEGRAPH

ARBRESSED

Kaye Passenger. Ranchi Psipin Vance Usa Mindanao Fastrustco

Tranin 36 Village Happy

Terrace

Bhagtu 176 Quee

VJENSEN

Superintendent.

AT THE EASTERN EXTENSION, AUSTRALASIA AND CHINA TELEGRAPH Co., Ln.

April