1933-05-26 — Page 13

THE TWO FAIRS

.

YOU SHOULD NOT

MISS!

THE BRITISH EMPIRE FAIR

AT THE

||

PENINSULA HOTEL

ALSO

STATE FAIR

COMMENCING SUNDAY

8 Great Stars in One Picture

The season's greatest cast in a story that pulses with the romance, excitement and gayety of a big State Fair.

WILL Rogersy

Salty

Ellers

Victor

Janet

Frank

STATE FAIR

SONYA LEVIN FOX

PAIR

DIXTURE

AT THE

KING'S

The Air Conditioned

Theatre.

HONG KONG DAILY PRESS, FRIDAY, MAY 26, 1933

MONEY AND MARKETS

FINANCIAL

NOTES FROM LONDON

P. & O. Dividends: Spillers, Ltd.: Boots Returns to British Control: Stewarts &

Lloyds: Shanghai

Cotton Mills.

(Special Air-Mail Service)

P. AND O. DIVIDEND DECISION

London, May 11. No interim dividend is to be paid on the £4,592,518 Deferred stock of the Peninsular and Oriental Stenm Navigation Co.,"but_the_half-yearly! distribution on the £3,040,000 5 p.c. Cumulative Preferred stock will be met on the usual date. In the pre- sent state of the Far Eastern ship- ping trade, the omission of the interim Deferred dividend almost a foregone conclusion.

was

|

of which £1,500,000 is in ordinary shares of £1 each. It is announced

HONG KONG STOCK MARKET.

YESTERDAY'S OFFICIAL

QUOTATIONS

There was a little more doing in the investment issues to-day, and Lands, Trams, Dairy Farms and Telephones changed hands at $76, *213, 384 and 8), respectively.

In the mining section, quite a flutter was caused by the sudden jump in Benguet Consolidateds, which were bid up to $3. There would seen to be some excitement

JAVA SUGAR MARKET

MORE INTEREST SHOWN

"BY HONG KONG

Measts. Pentreath & Co, kave forwarded to us the following x- port of May 11 from the Maclaine Sugar Co., Ltd., Sourabaya.

Terminal Markela.

London is down by ijd to lid. and New York by 8 to 11 points for all positions except spot which remains unchanged at 1.30 Brok- ers' cables from New York received to-day report that after ensiness due to liquidations the market strength- ened on news of the passage of the Farm Bill. Although the terminal quotation for December delivery is reported as 1.42, business has been concluded up to 1.40 and also in London for March delivery at 3d. above local brokers' quotations.

Exchange,

The Dollar has ruled steadier

that there is at present no inten in Manila in most of the minis since our last advices, to-day's cross-

tion of making any change in-tha existing management.

STEWARTS AND LLOYDS

If recent developments had not wholly convinced shareholders of Stewarts and Lloyds, Ltd., the great tube-making concern, of tho progressive nature of the manage ment of the business the Chairman's review of the company's position and affairs at the manual meeting No distribution was made last yesterday should do much to com- year on this class of stock, which plete the process. Mr. Macdiar- received 0 pes for 1931 and 10 p.e. mid's address was both lucid" and for 1030. Indeed, the full Pre-interesting, and the picture he pre ferred dividend paid in respect of sented indicated alike a vigorous 1932 was covered by only a small succoss over the difficulties of the margin, although the fleet depre- times and a hopeful foresight in ciation allowance was reduced from consolidation and planning. Mate- £1,400,000 to £350,000-a departure Find benefit to proprietors will, of course, depend on an improvement from normat made possible by con- servative policy in the past. Dur- iù world conditions, but meantime ing the current year the company Mr. Macdiarmid reported that in should derive some benefit from the 1032 the compady secured a record saving in interest arising from the proportion of available world tou recent Debenture conversion.

nge, that the general demand so far, this year is ahead of anything experienced for the previous two years, and that, as a result of in- creased efficieney the company can compete on at least equal terms with any of the exporting producers of the world. This, as the Chair, man said, takes no account of the commanding position in which the company will be placed when the Corby plant comes into, operation,

The British India Steam:Navi gation Co.- P. &. O. subsidiary has declared the usual half-yearly dividends on the 5 p.c. and 51 po Preferènico stocks.

· SPILLERS, LIMITED

development in regard to which it is important to. have the assur- ance that there is no intention of the company's withdrawing from

The Right Hon. Sir Malcolm A. Robertson, chairman of Spillers, Ltd., presiding at the general meet- ing of the Company on Saturday

•nt Cardiff, said that the, trading profit for the year was £353,446, which added to the balance of profit on Bolo of investments. Scotland, (£161,710), mado'a total of £515,165.; After transferring 2150,000 to the SHANGHAI'S COTTON MILLS investment reserve and making, pro- vision for directors' remuneration, interest sinking fund notes, preference dividend, and the in terim dividend of 21 per cent. on the ordinary stock there £400,319 to be taken to the balance- sheet. The directars proposed to pay a final dividend of 181 per cent. on the ordinary stock and 10 per the deferred ordinary cent. stock. Those would absorb £108,771 and £02,460, respectively, while under the Company's articles of association & distribution at the rate of 13 per cent, would fall to be made on "the onpartnership shures, absorbing £2,850, leaving the enrry forward to the next no- count of. E165,229.

on

was

Tho

that the Calico report. Printers' Association, may extens its interests by erecting cotton spinning and manufacturing plant at Shanghai comes at a time when, according to United States official advices, a curtailment of 22 per cent. in cotton mill activity has been introduced by the Chinese Cotton Millowners' Association. The curtailment was to begin on April 22 for mouth's trial pend- ing the formation of new plans to cope with the depression in the It was stated, how- yarn trade.

that only 1,500,000 out of the 2,100,000 Chinese owned spindles accepted the curtailment order, though it was believed that the

over,.

operato Yarm stocks at Shanghai continued to increase during March and clearances of piece goods, both domestic and imported, still leave a great deal to be desired.

shares.

Sales.

Hong Kong Banks, 81,720. Raubs. $10.

Hong Kong Landis, $70. Electrics, 7.00

Telephones, $281. Cements (Combined), $9.10. Dairy Farms, $21. Entertainments, $124.

Buyers.

Banks of East Asia, $96. Underwriters, 82.10, H.K. Fire Insurances, $255. Douglases, 32}, Indo-Chinas (Pref.), $30. Indo-Chinas (Def.), $30, Benguet Consolidateds, $34. Providents (Old), 83.80 Providents (New), $1.35. Hotels, $7.05.

Hong Kong Lands, $76; Ewo Cottons, Sh.$14.80. Shanghai Cottons, Sh.$118, Hong Kong Trams, #21). Peak Trams (Old), #16.30: Peak Trams (New), #5). China Lights (Old), $19,30. China Lights (New), 8111 Telephones, $264. Cementa (Combined), 48. Cements (Old), 86.40. Cements (New), $1,40, Dairy Farms, 228). Lane, Crawfords, 243 Constructions (Old), $3). Constructions (New), 78 conts. Govt. Loans, Prem.

Sellers,

H.K. Steamboats, 822. Hotels, $7.15

CHINA'S BUDGET

PREPARATIONS.

DEBT PAYMENT ESTIMATES ALREADY COMPILED

rate on Holland being 2.12 which is the same as that quoted at the time of our last report. Sterling advanced during the period under review to 8 52) but has subsequently eased again, the Barks baying rate for drafts at 3 d/s. on London be- ing to-day 3.40. Despite strong assurances by leading Bankers pub lished by the Press that Holland will at all costs remain on the Gold Standard and Dutch Banks en- deavour to prevent speculation in the guilder, the fear of Holland &/or Javn placing an embargo on gold persists..

-China,

Rather more interest has been shewn by both Hong Kong and Shanghai, the latter market enquir ing for as distant positions as December.

India,

Although all Indian markets ap- pear at first sight to be in a hope- less condition, some signs of an im provement are shewn. Ready par cels have been sold in Colombo at from 7/33 to 7/6 whilst quotations for ready parcels in Karachi have advanced a Jd..

West of Suez. Whilst sterling ruled firmer more business proved practicable for forward positions.

The N.I.V.A.S. Total sales now amount to:- 608,531 Tons Superior

8,739 Tone Superior seconds 235,148 Tons Browna

13,509 Tons Molasses which shows an increase of:-

6,041 Tona Superior

12,306 Tons Browns

Further sales to Japanese refiners are included in the Browns quan- tity as well as a sale to New Zea- land Refiners.

Stocks in Java,

As a result of the enquiries made hy the N.I.Y.A.S. they publish stocks in Java on April 1 last as ****

1,587,015 Tons Superior

913,882 Tons Browns

641 Tons Superior Seconds. 200-Tons Molasses

اريو

2,532,688 Tons of 1,000 Kgs.

Nanking, May 17-It is under. stood that the National Budget for

On the basis of the above figures the 22nd fiscal year, commencing on

we make, local consumption for the July 1, is trow under preparation by period, given below to have been as

follows:-- the Directorate General of Budgets, Accounts, and Statistics, and the various Goverment organs have been instructed to submit estimates of revenues and expenditures for the next fiscal year.

Estimates for debt payments, al-' ready compiled, reveal the follow ing figures:—

$109,919,342 For domestic loans

85,760,480 For foreign loans Boxer Indemnities........ 63,823,758

338,994

of loane Reserve fund for read- justment of foreign and domestic longa

w

As recorded in the directors' re- port, three acquisitions had been Japanese-owner mills would coCharges for the service made during the year-viz., the goodwill and trade marks of the animal foods section of the Thames Milling Company, Ltd., London, and the business and goodwill of John White and Sons (Glasgow), Ltd., and of the Craighill Milling Company, Ltd, Glagow; the pur- chase of the whole of the share capital of Sloato and Sons, Ltd.,

Bristol, had also been recently com- ploted.

BOOTS PURE DRUG CO.

It is officially announced that after long negotiations arrange- ments were completed yesterday whereby control of Boots Pure Drug Company, Ltd., passed into British hands by the acquisition of 1,000,000 ordinary shares of £1 each in the company from the United Drug Company, the United States

holders.

Q

The shares have been strongly placed amongst leading insurance

Total

10,000,000

8241,941,804

This figure, it is believed, shows

an increase of about $18,000,000

in comparison with that for the current fiscal year, amounting to $222,081,947.

The United States official report

stated already mentioned

that prices of Indian cotton at Shanghai were approaching a more favour- able parity in relation to American and domestic growths, and that more active yarn market would be reflected in appreciable purchases of the Indian staple This was written before the United States went off the gold standard, and it will be interesting to watch how CARROLL BROS. QUOTATIONS. that development affects the de mand for American and East Indian cotton in China and, more especial- ly, in Japan.

́INDIA'S TEA EXPORTS

companies, banks, trust companies, NEW RESTRICTION ARRANGE-

und finarial houses throughout the country at the price of £0 15s, per share cum the bonus of Is. per abare, tax free, just announced,”

MENT: LICENCES NECESSARY

Previous negotiations for the ac- New Delhi, May 10 The Indian quisition of these shares for a sum Government to-day announced of about seven millions sterling that it is proceeding to enforce were vetoed by the Treasury as restriction of ten exports. conflicting with the Chancellor's re-accordance with the arrangement reached with the Netherland East quest as that time that no foreign Indies and Ceylon. issues should be made,

Exports licences will be granted Boots Pure Drug Company, which in future by a committee represent was formed in 1888, controls the ing the Indian tan growing inter Boots Cash Chemists retail shops. este, and unlicenced exports are The capital amounts to £2,900,000, prohibited.--United Press.

SHANGHAI SHARES.

Mesars. Carroll Bros. have receiv ed the following cable quotations from Shanghai:-

China Finance Corp.... 5.10 International Investment

13

Weekly Sailings Transpacific

To San Francisco, Los Angeles & New York

via Panama Fortnightly smilings on Wednesdays Pree. Wilson

....June 7 Fros. Coolidge mining Jupe £1 Pres. Jackson July Pros. Hoover mit › gona July 19

14 14

To Seattle and

Victoria

Fortnightly sailings on Saturdays Pres. Jefferson..............................

June Pres. Cleveland

*.***. Junhg4' Prca. Tafts v do van

...July 8 Pres. Jefferson ... ... July 22

J

ROUND TRIP FARES TO EUROPE & AMERICA. Special through raton to Europe via United States. Direct connections with all Ailantro lines. Choice of mail lines across United States and Canada, liberal stop-ovor privileges for Sight-seeing. Full particulars upon application.

Fortnightly via Suez to Europe & America

Fortnightly sailings on Saturdays via Manila, Straits, Colombo, Bombay, Suez Canal, Alexandria, Naples, Gauca, Marseilles, New York and Boston,

Fra. Polk. Pres: Adams

TO

Next Sailing.

8am.

May 27 Pres. Harrison

June 10・・ Pres. Hayes......

MANILA

Pres. Jefferrou......... A „May 27 - Prea. Wilson

May 30 Pres. Adams ..................Jane 10 Pres. Coolidge

....June 13

6 $10. June 24

Pres. Polk May 27, 8 am

Pres, Cleveland...........June 17 Free, Harrison ...............Jabe 24 Prea. Jackson..........June 97 ...July 1

Connecting with 8.8. MAYON 76 CEBU, ILOILO, ZAMBOANGA

DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE

PEDDER BUILDING - HONGKONG.

CANTON BRANCH, Shixer Road.

NEW YORK STOCK EXCHANGE

ASIA LANDS, LTD., QUOTATIONS

(INCORPORATED IN HONG KONG.)

Tel. 28380-Gloucester Building, Room 308.

(BRUTER'S AMERICAN BREVICH]

New York: May 24,

Dow Jones Averages: High-1932 Low: May 13.

30 Industrials

20 Rails

20 Utilities

40 "Bonds

May 24. Change

68.78

41.22 88.08

B4.29

1.23 up

41.30

13.23 39.23

40.38

1.06 up

30.11

18.53 28.22.

28.70

48 up

83.96

65.78 89.00

82.39

39 up

Asia Lands, Limited, has received the following report from their New York correspondenta, E. A. Fierce & Co. Fresh buying was naturally attracted by the market going into new high ground. It does not look as though the advance has culminated and nothing would indicate that general profit-taking should be begun on the part of speculators in the fong position. Wheat: Infunecod by inflation talk, this market wis somewhat nervous and susceptible to swings in sympathy with chang- ing sentiment. The weather, has improved. Cotton: Prices advanced early in the day but later, when the weekly weather report was issued, offerings increased greatly and prices yielded under pressure. The weather has been favourable. Silver: Active and strong. Buying has been good in sympathy with the better tone in other markets. The trade bought and near operators sold distant poäitions. Business Done: 4,710,000 shares.

Apačonta” Copper Mining

LAST SALE "May 23. May 24.

1032

Dry. $ HIGH Low PEL SH.

80)

301

3.00 Air Reduction

873 8741

911

421

6.00 Allied Chemical & Dys

In Tons of 1,016 Kilos Stocks on 1-4-32 -------- 1,604,017 Produced by V.J.P.

and O.M.

82

299

4.00 American Can

1031 107) 8380

30

American Smelting...ti.

301

1378

701

0.00 American Tel:

Tel.

111

1111

2,570,310

80

44

5.00 American Tobacco

'B"

80%

637

13

131

198

3

4,170,227

151

282

2.00 - Auburn

501

62

Shipment April 1932-

March 1933

43

18

1.60 Borden Company. „mina

23};

33

1,910,586

20#

7

Canadian Pacific

13

1)

B5

101

J

J. I. Cast

612

63A

2,505,641

4717

2.00 Chase National Bank

294 bid 284 bið

Nivas estimate

"Stocks on 1-4-33 ... 2,492,733

Local consumption Apr.

1932-Mar, 1933

372,685

In a quiet market, we quote as follows:

ot

311

1.00 Chrysler Möters Aus

217

21+

4.00 Consolidated Gas of N.Y.

534

63

23

3.00 Dre, Ibe

402 474

GBA

92

2.00 Du Pont de Nemours

614

87%

302

3.00 Eastman Kodak

6% 8. Electric Bond & Share ...

23

48

26

404

19 2.00 General Foods.

0.40 General Electric

10%

201

31

CLF. Shanghai per 100 Kgs: f.6.95 (whites); f.8.30 (browns).

O.L.F. Hong Kong per picul : 1.4.18) (whites); 1.3.80 (browns).

249

7:

1,00 General Motors

M

244

241

10月

1.00 Gillette Balets

12}

13

341

-10

0.00 International Harmonter

34.

341

108

601

7:00

1061

100 bid

2

184

International Tel. & Tel.

121

121

80 7.

341

4.00. Liggett & Myers

B

8.

374

1.00 Loew's, If.c.

18

181

22

Montgomery Ward .....

29

221

60

2.80 National Biscuit

501

18)

4.00 National City Bank

Paris

New York

Montreal

Geneva

Ruary, May 24.

80

3.02

4.481

24.300

17.543

731

291 bid B15.

LONDON STOCK EXCHANGE

(BRITISH WIEEE SERVICE); }

1/60/64 1/27 19/18 .....1/2

Asia Lands Limited

Gloucester Building Tel. 28380 We offer you a complete brokerage service for the purchase or sale of New York Securities

Daily quotations sent-gratis-upon request. See our investment news on the Financial Page of

The Hongkong Daily Press

Conten Agente

John H. Ferguson & Co.

Tel: 18624.

Brussels

Amsterdam ter

0.40%

Milan....

Trust Co. Cathay Lacki

11.00

16.80

Yangtsze Finance

10.50

Berlin Stockholm Copenhagen

68.1/16' 14.15/29 19:45

22.45

International Assurance Co. China Realty Co. Shanghai Land Investment

Co. --- New Engineering and Ship. Building Works (Ord.) Shanghai Dock and En-

8.40

Oslo Vienna

30.70

31) nom.

14.00

Prague

1121

Helsingfors

2017

33.00

8.00

Madrid Lisbon Athens

110

500

Bucharest Belgrade

570

250

Rio Buenos Aires, Montevideo

41

411 official

34 nom.

43.50* 15.10

Bombay

Shanghai

Hong Kong

Yokohama na

110.00

Silver (spat) Silver (forward)

Warloan 34%

gineering Co. od 143,00 Shanghai & Hongkow Wharf

384.00

•Co Shanghai Electric Construc

tion Co. Ewo Cotton Mills, Ltd... Shanghai Cotton Manufac

turing Co.

Ex-div

All prices are in Shanghai dollars.

18.13/16

32, B. C. Shameen.

18%

98.13/16