1933-05-30 — Page 13

DAILY SHARE QUOTATIONS

HONG KONG STOCK EXCHANGE.

Ha sera curs Baled Nominal

SHAREBROKERS' ASSOCIATION.

HONG KONG DAILY PRESS, TUESDAY, MAY 30, 1933.

MONEY AND MARKETS

MONDAY,

Ballarn

Bugera

Nomina

MAY 29.

вы

***

$1,730

LONDON FINANCIAL NOTES

£133

£24

£91 388

(Speciál Air-Mail Service)

Banks

A.K. Banks

Do. (London) ... Chartered Bank... Mercantile Bks. "A"

Do.

$1,720

21941

·E13 £24

£07

"O"

$98

Bank of East Asia...

N. O. & S. Barks

$6.80

20

Am. O. Fin. Corp;

8.

IM

100

Do Prof. 8

1

IRAurances

$1,440 $2.10

10173

$253

16:40Ch. Fin.Corp. Onl. 8. 36.00

Canton Insurances.

Underwriteru

Union Insurances ...

tiian Fires****** H.K. Firos.....

84.75 International Assce, S.

Shipping

Douglaana

Steamboats aro

Indos (pee!.)

Waterboats

***

#114111!!

+1

$1,436

[ex div.] 1535

ex div. $690

$250

***

++

$31

730

ԱՅԼ

Do. (def.)

Shells

-45/7/

**་།

$30 $30 42/- $18

$10

Mining

$34

Benguets......

$31

Venezuela Gold Fida

14.30

Kailans

78,0

25/.

Laughats (single) 3.

$12

$21

52;

311

$3.90 $1,35

810

14.

Stions.......

Lonna S

Raubsret

Tronoh Mine......

3i cla. Benguet Explorations

5:31

8181

$10

8141

Docks, Wharvos,

Godowna, etc.

H.K. & K. Wharter. Providents (old) ...

13:00

Do. (new) #245 11.K. &W, Docks

S. China Motors A'

Do.

"

Shanghai Docks S. New Engineerings8, Hongkews. Lands, Hotels, and Buildings

H.K. Hotel******* H.K lands.........8. Shanghai Lands...S. Metropolitan Lands..

H.K. Healties................ China Do........8.

Humphreys

$7.10

$7.10 $7.20

$761

22-

JB

$151

za

#33

$58

814

$7.70

Ewos

$116 | Shai Cuttons..............S.

Wing On Textiles(S.)

S.

܃ ܃ ܃ ܃ ܃ ܃ ܃ ܃ ܃ ܂

$7.20

$77

iri

$9.80

12/

THE "GOLD CLAUSE"

Lospos, May 11. Widespread resentment is being expressed in the City at the refusni of the United States to honour the "gold clause" in the payment of interest on her national obligations. The gold clause has been regard- ed as a safeguard against currency depreciation. Investors believed that whatever happened to the dollar they would be able to rely upon payment in gold. The Ameri, can Government's treatment of its own nationals is a matter for it and them. The foreign holder of American securities has the right, however, to expect that the exact terms of the bood he holds shall be carried out.

This, however, is not President Roosevelt's view. Foreign holders must take the same chances as Americans" he has declared. No exports of gold are to be allowed for the service of Government $130 securities held abroad, and dollars alone, now worth between 83 and

90 cents in gold, will be available for payment. On the face of it, this decision appears to justify the rather ngly word default, which 1.149 hard is

18

$8

$5

TE

***

$148 116

$14

$90

$7

5137 Do. DebeaturesS.

3134

$131

$140

Asia Realtics "A'S..

$20

Dc.

"B" 5.

3:17

Chiness Estates..............

Cotton Mills

$15.10

$14

Zong Singe

$85

Public Utilities

$21.70

Tramways

$21.90

$16)

Poak Trams (old)...

$18

~ Da

(new)...

13.

392

Star Furrican

SUL

129

Yaumati Ferries

530

$12 $11.80 372.80

(new)...!

$164 $72

$284

$224

$23

FOT

China Lights (old).....)

Do.

H.K. Electrica

Macio do

Sandakan Lights...

Telephones..

China Buses

Tractions .......

154

*

$104

9:14

13-

Do (pref.)..

Industriale

$10

Malabon Sugars

$15

320

Caldbeck, Lord.) 2.1

$16

Mucgregars prof.)8.

18

Canton Lees

$6

$7.90

Cements (comb.)...

8.10

#6.40

Do.

(old)...

301

$1.40

Do.

$1

19

***

(OUT)...

Ropesmi terseb

Dairy Farms....

Miscellaneous

$263

Der A Wing..............

$12

Amusements......

$12

Ch. Etainments......

24.30

Constructions, (old). $4

Do.

(now).85 cle

Lane Crawfords....... $4.55

Mackintoshe .....

Nanyang Tobaco...

Wm. Powells

GOLD HOARDING IN

FRANCE

One result of America's action regarding gold is. to intensify private hoarding of the metal. London bullion dealers are having a busy time attending to orders for gold from the Continent, and par- ticularly France, where the fear exists that the frane will eventual- ly be unlinked from its present gold position and suffer deprecia- tion. Assurance is being made. doubly sure by these buyers, who, rather than take their gold home and risk having it called in by Government action, as happened in America, leave the metal in safe de- posit in London,

That people abroad are prepared: to take their money from hanks, buy sterling, and with sterling buy gold in London, renting a safe here in which to keep it, may appear pre posterous to the Englishman, yet the fact remains.

HONG KONG STOCK EXCHANGE

YESTERDAY'S OFFICIAL

QUOTATIONS"

JAPANESE GOVT. AND EXPORT TRADE

TO CONTROL PRICES AND

QUANTITIES

Whilst the volume of trading cao. not be said to have been on an

Tokyo, May 20. extensive scale to-day, the trend in

The Department of Commerce values appears to be gradually but steadily upward, a fair amount of and Industry and the Department new money having recently found of Foreign Affairs are secretly its way into the market for invest-planning control of the export

trade by an

emergency imperin! ordinanes, according to the Maini- chi.

iment purposes.

Among the lower-priced issues, there has been in the past few days a steady abeorption of China Lights, which at this afternoon's session were bid up to 812.90 for the old shares. Also Watsons (bid 810) and Constructions old (bid $1.40) have come into the active list" both again- .

·

Sales.

Hong Kong Banks, 81,725. Union Insurances, $317). China Lights (Old), 812.80. Watsons, 810

Govt. Loans, 21% Prem.

Buyers.

Bank of East Asia,' $96. Canton Insurances, $1,440. Underwriters, $2.30.

H.K. Fire Insurances, 8235 Indo-Chinas (Pref.), 830. Vens: Goldfields, 843. Providents (Old), 83.00. Providents (New), $1.35 Hotels, 87.10.

Hong Kong Lands, 876). Ewo Cottons, Sh.$16.10.- China Lights (Old), 812.00. China Lights (New), $12.10. H.K. Electrics, $72.60. Telephones, $29.00 Cements (Combined), 87.90. Cements (Old), 86.40. Cements (New), $1.40. Dairy Farms, $28); Watsons, $10. Lane, Crawfords, 84.60 Constructions (Old), 81.40. Constructions (New), 81. Govt. Lonis, 21% Prem.

Sellera.

H.K. Steamboats, 822. Hotels, 87.20.

Hong Kong Trams, "891:80"** China Lights (Old), $13.

THE EXCHANGE

MARKET

MESSRS. ROZA BROS., REPORT

Obviously it is only "big" money that can thus obtain refuge in gold. The metal is dealt in bars of ap- proximately 400 ounces weight, and the finance of one bar alone repre- sents roughly £2,500. Orders from

Messrs. Roza Bros., have forward- banking concerns, business houses; and private individuals on the Coned us the following exchange mar tinent, however, exceed the supply, ket report for yesterday: and gold consequently commands a premium. Its basic value is the price which could be obtain if sold to the Central Bank of a gold 128 standard country (under present circumstances the Bank of France) at the prevailing exchange rate.

$12!

$12

In order to remove any oppres sion from Japanese competition, many countries have recently appli. ed anti-exchange dumping duties or effected tariff increases. A few na tions, including India, have abro- gated or are about to abrogate commercial treaties which they have with. Japan. These countries complain, besides the fall of the yen exchange, of the lack of can- trol of prices on the part of Jap- anese traders, This fact has ap- parently prompted the Govern ment authorities to project the above State control.

The details of the Government plan are at present kept secrat, but the Mainichi' gathers that the scheme will be generally on the fol- lowing lines.

1. Consolidation of the Export Guild Law.

By selected articles for which control is needed, the Government is to order manufacturers to es- tablish export guilds. Quantities to be exported are to be allocated. Outsiders are also to be ordered, in accordance with Article 9 of the Export Guild Law, to observe any arrangement or control conducted! by such export. guilds. Ali mem-1 bers are to contributs about ten per cent of the export Valve at the time of export as reserves, and

LINERS

Weekly Sailings Transpacific

To San Francisco, Los Angeles & New York

33

To Seattle and

Victoria

· via Panama Fortnightly sailings on Wednesdays

Fortnightly sailings on Saturdays

Pres. Wilson

June 7

Fru, Coolidge

Juno 21

Pres. Jackson

July B

Eres. Hoover

July 19

Pres. Jefferson....i...June 5, 1 a.m Pres. Cleroland..........June 24. Prez. Tafturi b Pres. Jefferson................................ July 22

Joly 8

ROUND TRIP FARES TO EUROPE & AMERICA.

"Special through rates to Europe via United States. Direct connections with all Atlantro lines. Choice of rail lines across United States and Canada, liberal stop-over privileges for Bight-seeing. Full particulare upon application.

Fortnightly via Suez to Europe & America

Fortnightly sailinge on Saturdays via Manila, Straits, Colombo, Bombay,

19uez Canal, Alexandria, Naples, Genoa, Marseilles, New York and Boston.

8am.

..June 10 Pres. Hayes

Pres. Adams Pree, Harrison ...............June 24

TO MANILA

Next Sailing

8 Am.

Pres. Wilson May 30, 6 p.m.

Pres. Adams...ne 10 Pres. Coolidge.............................. Jane 13 Pres. Cleveland.............pae 17 Pres. Harrison,

..Juue, 24.

Pres. Jackson

June 27 Pree. Taft. July! Pres: Hayes...July Pres. Hoover ................July 11

Connecting with 8.8. MAYON To CEBU, ILOILO, ZAMBOANGA

DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE

PEDDER BUILDING-HONGKONU.

CANTON BRANCH-4, SHANZE ROAD.

8

PACIFIC ORIENTAL MONTHLY CARGO AND PASSENGER SERVICE

unless accompanied by certificates M.S. "SELANDIA”

of such payments, their exports are to be banned. Aggrogate ex- port quantities for a certain period are to be fixed, prohibiting any exports without overseas orders.

2 Control of prices.

In order to control prices accord- ing to markets and articles, a va luation committee in to be appoint- ed, so that the lowest quotations admissible for competition with foreign goods can be fixed from time to time,

3. State inspection of exports. 4 Establishment of Export du. tien.

5. Sanctions against violators of control orders.

8.

FOR MANILA

FOR SAN FRANCISCO, ETC.

· via SHANGHAI

Sailing on or about

10th JUNE

20th JUNE

CARGO AND PASSENGERS ACCEPTED FOR MANILA, AND SHANGHAI, SAN FRANCISCO, VANCOUVER,

SEATTLE, LOS ANGELES, ETC. -THROUGH. BILLS OF LADING ISSUED TO

OVERLAND POINTS.

Excellent Passenger Accommodation

Passenger fare Hongkong/Ban Francisco G8120 (lat class only)

For Freight and Passage, etc. please Apply to i

The East Asiatic Co., Ltd. The Chinese American Shipping

Agenta z

Prohibition ar restriction of||JOHN MANNERS & CO. LTD. the export of articles which liable to hamper trade..

дер

7. Revision of the Customs Tariff Law,

Silver prices rose 3/8 over the

A paragraph reading "For arti- week-end making the quotations 18 for Ready and 18.15/16 for eles imported from countries with Forward. Silver advices reported which Japan has no trade treaty, America and speculators as having the Government may impose du bought. China sold at the rise. ties not exceeding 100 per cent. 15 The Continent also sold. The tone addition to the ordinary duties." at the close was steady. In Ameri- to be included in Article 5 of the ca the rate was quoted at 34% for Customs Tariff Law. Spot. The market was firm.

New York advices reported the cross-rate at 3.973. The market was

firm.

On one occasion this week, how- ever, as much as 10d, an ounce pre- mium on this price was paid. Buy- ers of smaller amounts of gold find refuge in sovereigns, which are sell-

With the exception of the Shang. 115g in France at 127 francs each, as hat rate which was unchanged atments but considering the present

against their parity value of 124.21110, Francs at 5.924, Saigon at 58 francs. Dae London stockbroker and Bangkok down to 136, other was asked by a French client to

rates were put vr. obtain 1,000 sovereigns just re- cently.

$91

ox d'v $1,50

$7

51

$4.60

$10/

Sinceres radi

0.20

Watsone

$2.10

$10

M. Greyhounds......

C. Enterprises...

United Theatres...S.

70%.

B. Ini. G. Bonds... 71g"},

prem.

1.B. Gort. Enans.....| 3103||

19

Wallace Harper .................

$208

8157

China Sports Ltd..

$200 H.K Wing On

S'hai

Do

DUNLOP'S RECOVERY

Market.

Dull, the tone was firm.

Sterling.

Such prohibition or restriction of exports or imports may Invite protests from countries with which Japan has preferential tarifi agree- situation in many countries, which are endeavouring to check_imports of Japanese goods, the Japanes? Government schemes will no doubt be welcomed, it is believed.-Japan Chronicle.

EXCHANGE

CLOSING QUOTATIONS

Company

'Agent: HONG SLING .

Ofice: MERCANTILE BANK BUILDING (TOP FLOOR), 7, Quaan's Rd., CENTRAL, TELEPHONE: 24071.

NEW YORK STOCK EXCHANGE

ASIA LANDS, LTD. QUOTATIONS

(INCORPORATED IN HONG KONG.)

#

Tel. 28350-Gloucester Building, Room

[REUTER'S AMENKICAN SERVICW]

Now-York: May 27. ... ·

Dow Jones Averages: High-1932

-30 Industrials

20 Rail

88.78 41.30

Low: May 26. 41.22 88.42

13.92 40.99

30.11. 89.46

16.53 28:66

85.78 $3.07

May 27, Change

80.61 3.19 up

42.98 1.20 up 29.51

.66 up

83.30

.23 up.

20 Utilities 40. Bonds Aaia Tanda, Limited, has received the following report from their New York correspondents, E. A Fierco & Co. On the surface the market looked wild but it is difficult to say that it is yet at the danger or boil- ing point. We still expect oils and rails to show more aggressiveness before the climax Cotton moved into new high loves and heavy offerings were absorbed in an impressive fashion by the foreign and domestic trade. Washington developments and the trend of the dollar and foreign exchange are at present the principal factors. Wheat: The strength of cables and foreign exchange stimulated demand, which was general. Realising was responsible for one cent set-back in late trading. Silver: There were constant commission house demande and'r and some foreign buying. Bank profit-takers solde Business Done! 4,310,000 shares."

$59

Asia Lands Limited

Tel. 28380.

Gloucester Building 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

Canton Agents

John H. Ferguson & Co.

32, B. C. Shameen.

Tob

The substantial recovery in the financial prosperity of the Dunlop Rubber Company is an event of im- The market opened with sellers portance. The company has an at 1/4 12/32, buyers bidding 1/4 issued capital of £12,251,033, while 23/32 resulting in business at 1/4 it has also still outstanding Deben-11/10 for near followed later by a tures totalling £1.386,087. Its share all transaction at 1/42 July and holders run into thousands, and the 1/4 23/33 June. The market closed reduction in earnings eelminating with sellers at 1/71118 cash, 1/4 23/32 June-July, buyers probably at in the passing of any dividend on the Ordinary stock for 1931 caused1/4 25/32 for cash, 1/4 June and considerable hardships.

probably July.

Now the company is once more in

Gold Dollars.

its stride. Its trading profits in 1932 rose to £1,801,984, against Business was reported towards the £1,095,212 in 1931, and after allo-close at 27% for June delivery. The cations to depreciation and obsolen market closed with seller at £7 cence of £581,304, against £218,659 18/18 May-June and #7 18/18 July, and other payments, there is avail-buyers probably at 1/18 higher. able a net profit of £800,077, against £480,029. Dividends are resumed on the £7,851,043 of Ordinary stock, with a distribution of 4 per cent.

The financial position shown in the balance sheet is a powerful one, the surplus of current asėta over current liabilities being £5,340,403,

The exchange market was closed ON SINGAPORE :-

an increase on the year of £1,850,618, to-day. The total included £3,248,225 in cash at bank, etc., and £9,392 in 147 Government securities This excep- representing a saving in prior tionally liquid position has been charge service of £120,000 a year utilised since the date the A feature of the accounts is their bilance-sheet in order to redeem the informative and complete, nature, £2,000,000 of 4 per cent Debentures, on which the company and its ac- (Continued of foot of nest Column), countants are to be congratulated.

'ON BATAVIA?

1. On demand ON SAIGON:-

On demand ON BANGKOK :— On demand SOVEZZIONE, Bark Buying 23

Bate

Drv.

3.00 Air Reduction, 6.00 Allied Chemical & Dyn

29 4.00 American Can-zimow

American Smeltingeron

700.00 American & Tel

5.00 American Tobacco B

Anaconda Copper Mining 200 Auburn

LAST SALE

- May 30. May 27,

May D 1634 IN LONDON

Telegraphic Transfer... Bank Bille, on demand Bank Bills, 4 months'

sight

1032

BIOF Low PER. SU.

1

#72 8811

942

10171001

BB

914

: Credits, 4

*

sight

months*.

1/

30

31

34

1378

1131

1107

ON NEW YORK:-

602

89

Book Billa, on demand 27 nem Credits, 60 days sight.. nom ON PARIS 1—N

34

134 -14

1614

281.

1531541

18

Bank Billa, on demand 1825 Credita, 4 months sight 22

20#

1.60 Borden/ Company: "nergy

Canadian Pacific

13+

JL-Cast

33 14 701 731

ON INDIA

Merchants were quoted at 112} for near deliver

Shanghai,

Telegraphic. Transfer... Bank, on demand ....... ON SHANGHAI:

On Demand....... ON KOBE:--

On demand ON"MANILA :-

On demand

47

17:

3.00 Chase National Bank

28 bid 28 bid

1.00 Chrysler. Motors

204 24

314.00 Consolidated Gae of N.T.

544

56

57

23

8.00 Brugs, Inc. .......

51

541

22

2.00 Du Pont de Nemours

.719

781

871

351

3.00 Eastman Kodak Fr

6% 9. Electric Bond & Share

232

64 m

26

0.40 General” Eloétric

401

198

On demand

241

348

108

184

80%

37:

2.00 General Foods ... 71.00. General Motors

1.CA Gillette Safety 0.00 - International Ha 0817.00

4.00. 1.00

331

id 31 bi