DAILY SHARE QUOTATIONS
HONG KONG STOCK EXCHANGE.
Buyeza | Baller
!!!!!!!!!!
$810
#21:GO
SHAREBROKERS'
ASSOCIATION.
THURSDAY,
Nomlos
Enyors
Bellars
Bales #omias
JUNE 15.
BARKS
$1,720, H.K. Banks
Do (London)...
Chartered Banks....
2129
614
1441
£et
$98
N. C. & S. Banks
$20
***
110
***
81,735
$7.20
£24Mercantile Bks. “A”|
Do.. 40"
Bank of East Asia... $99
Am. O. Fio. Corp: 8. th
10.40 Ch. Fin. Corp. Ord, 8,
Insurancea
$8.00
Do Prof. 8
$293
Canton Insurance!.........
32.40
UnderwriterE
CYK
Union Insurances ...
$595
China Fires...............
$270
H.K. Firesba
#47
International Ássco, S.
KAR
291
130
$32
#1:1
+
Shipping
Douglases Steamboats
Indos (pref.)
Do. (def.j
49/44 Shells $15
Watertonta
Mining
Benguets......
Venezuela Gold Flda.
⠀⠀⠀ 4
$33
33/9
Kailane
$15
Langkats (single) 8.
$26
Explorations.......
$10
3 cts.
$138
H.K. & K. Wharves. $187
14
$3,90
$3.95 34
$1.40
H.K. & W. Docks
$10
Do.
$37
Slaghai Loans .
Rauba
Tronoh Mincs
Benguet Explorations
Docks, Wharvos, ·
Godowns, etc.
Providents (old)
Do. (new)... $140
S. China Motors "A"
$1481 Shanghai Docks S
New Engineerings9,
Hongkews .......................8.
Lands, Hotels, and
Buildings
H.K. Hotela
H.K Lands.......... $76
$331 Shanghai Lands...S.|
B
Humphreys
Do. "B".
Chinese Estatos..
Cotton Milm
Ewos ********
Public Utilition
framways
1695
$70+
5
171
1:18 2:
Sandakan Lighta...
China Busos....
Tractions
...... 8.
(prof.)......
Industrials
$20
(old)... (new)...
. Do, Hopes..........
Miscellaneous "
213 £84 29t
$908 $2.40 0513 $590 $200
$34 322 $30 $30
42/.
$10
HONG KONG" DAILY PRESS, FRIDAY, JUNE 16, 1933
Money and Markets
JAPANESE TRADE
"AGRESSION”.
Report by British Federation of Industries Committee
COMPETITION WILL INCREASE
LONDON, June 1.
A special investigating committee of the Federation of British Indus tries ropresenting the principal trades affected by Japanese com- petition has reported to the Board of Trade.
A
It estimated that from fifteen to' twenty million people are likely to be added to the Japanese popula- tion during the next twenty 'or thirty years only fraction of whom can be "fed out of Japanese domestic resources and that it is therefore inevitable that Japanese competition will become increasing. $34ly intense.
The report points out growing 25/- tariff obstacles, both 'European and $17.20 American, against Japanese exports which have resulted in Japan ex- tending the general range of goody which the manufactures for export and intensifying the pressure of international competition wherever she had been able to find an open- ing..
$2
$4 $9.80
12/
**
$8
38
$149
Japan, says the report, is using every means in her power to under sell her competitors and adds that depreciation of the yen during the past year has been deliberately used to embark on a reckless national. sales policy with disastrous resulta to British and other traders in various world markets.
Standard of Living.
Further, the report points out, differences of wages, labour con- Iditions and the standard of living make it impossible for the East and the West to compete on equal terms in articles of which wages 13form a substantial part of the cost.
2050
$14.90 *108 $14)
$10
The report cites as an example the phenomenal growth of the Japanese rayon industry, her ex- ports having increased ninefold in the past six years while Britain's exports have fallen by two thirds.
It points out that rayon", and cotton textile manufacturers are not the only British interests affected by Japanese apgression and in stances increasing competition, în heavy chemicals, electric lamps, cycles, buttons. "Zip" fasteners, cement and rubber boots and shoes.
The ability of Japan to undercut Great Britain, says the committee, is due, first and foremost, to the | difference between Western and Eastern standards of life as ex- emplified in wages rates, hours of laliour and working conditions, and secondly to the "unfair" advantage enjoyed by Japanese exporters through exchange depreciation, Government subsidies and freight dumping.
The committee is of opinion that
HONG KONG STOCK MARKET
YESTERDAY'S OFFICIAL
QUOTATIONS
Whilst the lower-priced issues maintained their position to-day, with a slight inclination towards firmness, some of the investment issues appear to be again attract ing investors, Unions and Electrics changing handa at 3525 and $731, respectively, and Star Ferries be ing bid up to 892},
Sales.
Union Insurancss, $523. Wing On Textiles (S'hai), $07. Cements (Combined), $3)/7.60. Govt.. Loans, 3 per cent. Prem. Buyers.
Hong Kong Banks, 81,720. Douglases, $32).
Vens: Goldfields, 843 H.K. & W. Docks, $16. Hotels, $8.95. Rumphreys, 813).
Hong Kong Trams, 821/80. Star Ferries, 8921- China Lights (Old), $12.00, Electrics, 873. Cements (Combined), $7.40.
Sellers.
HK. Steamboate, 821. Hong Kong Lands, 8761" Telephones, $201 - Dairy Farins, $29.
EXCHANGE
CLOSING QUOTATIONS
June 15, 1933.
(IN LONDON:-
Telegraphic Transfer... Bank Bills, on demand 1/4 Bank Billa, 4 months"
might
1/47 Credits, .. 4 month
sight
1/68 Bank Bills, on demand 281 nom Credits, 60 days' sight.. nom PARIS:-
ON NEW YORK:---
ON
Bank Kills, on demand 600 Credits, 4 months' sight 640 ON INDIA:-
Telegraphie Transter... } 034
Bank, on demand ON SHANGHAI:
On Demand ON KOBE:~~ ON MANILA
On demand
On demand
ON SINGAPORE:-
On demand
O
BATAVIA :--
On demand
O
SAIGON:
On demand
Ox BANGKOK:-
.109]
1101
........anom
On demand SOVEREIGNS, Bank Buying"
Rate
B&B SILVER, per os,
60
133
1/8
18 7/16
SHANGHAI SHARES
SHANGHAI ELECTRIC
CONSTRUCTION Adverse Effects of the Hostilities
MR- J. S. HASKELL'S SPEECH
(Special Air-Mail Service)
LONDON, May 30.
The Twenth-Seventh Annual Gen- ernl Meeting of the Shanghai Elec- trie Construction Company, Limit- ed, was held yesterday at Basildon House, Buskell (the chairman)
Moorgate, London, E.C.
Mr.
said: The early part of the year to which the accounts relate was business conditions in Shanghai, it marked by a grave dislocation of consequence of hostilities on. siderable scale between · China and Japan. The effet of them Was
im- mediately felt by this company, in- asmuch
a con-
Veg services had to be
and such operation as was possible was only carried on in the face of great difficulties. Thus while the first month of the year showed an in traffics appreciable improvement in and
operating profit as compared with the same month of the preced ing year, we had an actual loss for February, and the recovery which began to set in after the suspension of hostilities was slow, and even by the end of the year both traffics and operating profits were at a lower level than at the close of the year before. In the agutegate the operating profit for the year at $1,700,156 showed a falling off of $1,183,423, or 39.72 per cent., which is directly attributable to the Sino- Japanese conflict and its resultant paralysis of commercial activity in Shanghai.
severely curtailed or suspended
Improved Silver Exchange
This unfortunate but unavoidable state of affairs was, however, miti- gated to an appreciable extent by an improvement in the silver ex change, as the result of which we have been able to convert our pro- fts at la. Ald. to the dollar, against 1s. for the preceding year, with the result that the reduction of profit expressed in sterling is only 30.35 per cent, when oxchange adjustment has been allowed for.
33
Even now the process of recovery is not complete, and, although the current year compares favourably with 1932, profits are considerably short of those for the early part of 1931, and it is evident that Shanghai, in tommon with the world in general, is suffering from the present unprecedented commer- cial and financial depression. The depression has not been
without effect on the Singapore Traction Company, and our half-share of its divisible profits has accordingly been reduced from £14,000 to £8,000. Notwithstanding the reduced scale of commercial activity in Shanghai we carried the population of over a million more than a bun- dred times, and accidents involving personal injury were little more than two por million passengers, which is a creditable record, especi ally
when the narrow erowded streets of the city and the nature of its inhabitants are taken into consideration.
Strong Liquid Position If you will turn' to the balance- sheet you will observe that, at the date of the accounts, we had, a strong liquid position, na our cash at bank was more than sufficient to market value of the British Govern discharge all liabilities, and the
ment securitics on hand was not far re-short of £100,000.
it is inconsistent with the policy of CARROLL BROS. QUOTATIONS protecting British industry and with the inter-Imperial, arrange..
EUROPE A SUCZ
AMERICA. SUEZ
The
TO CALIFORNIA
TO NEW YORK JAUNIMO
STRAITSAVIINDIA PRESIDENT TO SEATTLE VICTORIA,
INTERPORT
Liners
INTERPORT
Weekly Sailings Transpacific
To San Francisco, Los Angeles & New York
To Seattle and
Victoria
Fortnightly sailings on Saturdays. Pres. Cleveland ............. ......June 94 Pres. Jackson July Prez Jekerson..July 22 Pros. Cleveland Aug. 12 Pros. Jackson...........
...Aug. 26
vla" Panama
Fortnightly sailings on Wednesdays Prez, Coolidge .............. Juns §1, 12.0. Pres: Taft...........July 5 Pres. Hooyer '.... ....
**** July 19 Pres. Grant....................Aug. 2 Pros. Coolidge....: 10 Pres. McKinley Ang, 30
ROUND TRIP FARES TO EUROPE & AMERICA. Special through rates to Europe via United Stator." Direct connections: with all Atlantng "lines, Choice of rail lines across United States and Canada, Liberal stop-over 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, Ganon, Marseilles, New York and Boston.
Pros. Harrison Pres. Hayes........ Pres. Pierce......
8am.
June-24*
July 8
Jaly 22
Pree, Monroe angan Aug. Pres. Van Buren........
TO MANILA
Aug. 19
Next Sailing......... Pres. Cleveland June 17, 6 p.m.
Pres. Harriso ..........................Jure 24 Pres. Jackson June 27 Pros. Taft
June 29 Pres. Hayes... daly A Pres. Hoover ....July 11
Pres. Jefferson
......... July 15 Pres. Pierce.
July 29' Prov. Grant........... July 28 Pree. Monroe...
Aug. 5
Connecting with 8.8. MAYON To QEBU, ILOILO, ZAMBOANGA
DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE
PEDDER BUILDING-HONGKONG.
CANTON BRANCH-4, SHAKER BOAD.
NEW YORK STOCK EXCHANGE
ASIA LANDS, LTD., QUOTATIONS
(INCORPORATED IN HONG KONG.)
Tel. 28330-Gloucester Building, Room 208.
[BRUNER'S AMERICAN SERVIOR}
New York: Juno 14 Dow Joace Averages:
30. Industriala.
20 Rails
20 Utilities
:40 Bonds
High-1939 Low: June 13, "June 14. Change
88.78
41.22 04.70
94,08
.73 down
41.30
13.23 44.30
43.77
.53. down
36.11 83:26
.10.53 36.08
35.88
18 down
66.78 84.65
84.50
.01 up
Asia Lands, Limited, has received the following report from their New York correspondents, E. A. Pierce & Co. The market showed excellent. resistance to reactionary tendencies but the tone is rather uneven. Wheat; The London and Argentine refusal to cut soreage induced heavy realising. The domestic and Canadian crop reports are less favourable. Cotton: The attention of the Trade bas been centred on the London Conference and Washington. Weak cables and exchange caused liquidation but the market rallied at the close. Silver: At the oponing ruled unchanged bat subject to heavy pressure from foreign. selling and liquidation. The pressure subsided in late trading. Great Britain offers $10,000,000 as a Debt instalment payinent, pending a haal settlement, and the President accepts the payment. Business Done: 5,550,000 shares.
Drv. $
**
#33
$7.05
$76+
514
Metropolitan Lands..
sa
H.K. Healties.........
$141
China Do...............8.
$137
-Da Debentures3.
#13)
$140
Asia Realties "A"S.
$80
$47
$14
$100
B'si Cotton......
814
Zoong Singee. Si
$07
Wing On Textiles(S.) 197
smerom $21.85)
$151
Poak Trains (old)...
373
Da (new)...
$15 $74
Star Ferries
er
$921
$28
Taumati Ferrics
$281
$13
Chins Lights (old)...} $12.60)
$19.70
$12,
Do.
(new)
$12
173
H.K. Electrica
$93
Macao do.
$10
404.
Telephones
$111
1/
13'.
Do.
$15.
Malabon Sugare,
$20
Caldbeck, Word.) 8.
$16
Macgregore (pref.)8.
16
Canton Icea
$7.40
7/8c
Cements (comb.)...
$7,60
$71/7.60
16.40
Dov
38
***
J13
* 1032
19:
$91
HIGH:
Low FEE, SH,
LAST SALE June 13. June 14.
30%
$28
$1
Dairy Farm Der A Wings........
MAY
$27.45
944
42
3:00 Air Beduction 6.00 Allied Chemical & Dye 4.00 American Can
893
$701
II
118
02
90%
3124
$121
30
5
$124
$11
701 ..1378
34
$4
892
American Smelting.......... 9.00 American Tel & Tel 5.00 American Tobacco "B
20
1271
1277
001
· B9
90 eta
$4.85
$4.85
32.30
$21
8.00
$14
$18,80
When I addressed you a year ago I referred to, a movement on foot in Shanghai to transfer the control of
191
American Waterworks Anaconda Copper Mining
371
39
17
16
1812
281
2.00 Auburn
601
Bendix Aviation
174
$10
Watsons....
$94
$2.10
Wm. Powella
149,00
$1.90
$10
M. Greyhounds.
***
S. C. Enterprise
333.00
$3
United Theatres... B
70°
B. Ind. G. Bonds... 74
prem
$9:
$180
H.K. Govt. Loa... $103
Wallace Harper.....
China Sports Ltd....
ELK Wing On
for the first four years of opera tion of a factory and also cites the activities of trade commission ar ranged by the Bureau of Foreign Trade.
Evo Cotton Mills, Ltd.
Shanghai Electric Construc-
tion Co.
Shanghai Cotton Manufac
turing Co. nidi
43.50
the company to that city and to the fact that there were points which required very careful consideration. No effective steps in regard to the transfer have yet been taken, and
481
18
33
351
20+
100
161
654
943
842
212.
21
177
33 bid 32 bid
214
舀
901
14.50
for the moment I have nothing fur-
31
4.00 Consolidated Gas of NY.
611
109.00
ther to report to you.
The report
3
was unanimously.
57
23.
3.00 Drugs, Inc.
.....
$100
8'ba
- Do
..... $105
Lid,
adopted.
22
2.00 Du Pont de Nemours.
781
76)
941
14.50
3.00 Eastman Kodak in
821
31
ответ
5.90
Electric Autolite
217
2.80 Langkats
17.20
6% & Electric Bond & Share o 387
371
(Continued at foot of next snl.). dollars.
5.50 All prices are in
Shanghai
Electric Power "and’Light..
14
14.
0.40. General, Electric
24
24
1,80 General Foods
37
1.00 General Motóra
27
10
1.00. Gilletts Safety
16
IBL
Gold Dusttalje
24
0.80 International Harvester .....
39
38
112
112 bid!
- International Tel. & Tel.
191
.15A
921
91
23
ETC. via SHANGHAI ...
37 bid 334 bid
Otis Elerntor
211
29!
201
2010
33 34
201
Amusements...... Ch. E'taiamente...... Constructions, (old).
Do.
(new)
Lane Crawfords......
Mackintoshs
Nanyang Tobacco...
Sinceros
Trust Co.
On the other side of the account, the general reserve stand at £75.750 and the provision for renewals had been built up to the substantial 12.60 figure of £182,507, as the result of 18.70 very liberal appropriations in past 10.80 years, which we have not felt it 5.30 hecessary to maintain at quite the 15.10 same high level during the past
Messrs. Carroll Bros. have ments made at the Ottawa Conferceived the following latest cabled ence, that Japanese competition quotations from Shanghai:- should be permitted to continue China Finance Corp. 83.00 unchecked in the British and International Investment colonial markets without concerted action being taken to safeguard Cathay Land British interests in these markets. Yangtze Finance Co.
State Aid.
International Assurance Co. It finds that apart from low China Realty wages and inferior, working con-Shanghai Land Investment
Co. ditions Japanese exports are arti- ficially fostered by the state and in New Engineering & Ship this connection instances special
Building Works (Ord.)... tariffs, subsidies and state guaran-Shanghai Dock & Engineer- teed profits. It draws attention, to ing Co. exemption from income tax in con- Shanghai & Hongkew Wharf nection with certain commodities Co.
year.
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 Dally Press
Canton 'Agents
John H. Ferguson & Co.
82, B. O. Shameen.
Tel. 18624
Referring to subsidisation of ship-Zoong Sing Cotton Mills, ping the committes says that it un- derstands that except during the Anglo-Java boom years 1915-18 and 1920 only Anglo-Dutch the receipt of subsidies has pre Ziangles vented heavy trading losses.
The report adds that there. ap. pears to be no serious obstacle in the way of Japan continuing to use exchange manipulation to help her trade for some time to come:
Dealing with Japan's primitive labour conditions it says that her
PACIFIC ORIENTAL MONTHLY CARGO AND PASSENGER SERVICE
surplus girls population provides M.S. "SELANDIA" Sailing on or about
the cotton textile industry with an
of
almost illimitable supply labour which is docile and possesses, manual dexterity" while the wage of male workers is barely one third of British rates and that of female workers barely one fourth.
After reference to conditions in the cotton industries the report draw attention to the pottery trade in. connection with which it says that according to British manufacturer agente Japanese products are being offered in Em- pire markets at less than half the British factory price.
Mr. Kenward, chairman of the committee, stated to Imuter that the Anglo-Japanese Trade Agreement requires one year's notice of termi- nation and that unless the decks.are cleared: it will be very difficult for the Federation to put forward con- crete suggestions for meeting the position.
FOR LOS ANGELES, SAN FRANCISCO,
22nd JUNE
CARGO AND PASSENGERS ACCEPTED FOR
SHANGHAI, SAN FRANCISCO, VANCOUVER,
SEATTLE, LOS ANGELES, ETC.
THROUGH BILLS OF LADING ISSUED TO OVERLAND POINTS.
The East Asiatic Co., Ltd,
Agents
JOHNMANNERS & CO, LTD.
Ofice: Murgantiin BANK BUILDING (20P 71003), 7, QUEEN's ED., Uzm
TALEZHONE : ~ 24071,"
29*2* * ** *** *** * ere osa 1 A
EZTET E *** *** **6 9 3933-72128885
1.60 Borden Company
Canadian Pacife.
J. 1. Case......
Caterpillar Co.
2.00 Chase National Bank
1.00 Chrysler Motora
Curtiss Wright
607.00 (Titan (Preferred)
400-Liggett & Myeri "B 100 Laws Inc.
Montgomery Ward
9.80 National Biscuit
100 National City Bank"
National/Dairy Products
2.00 Pacific Gas & Electric'.....
Packard Motors
0.50 Pennsylvania. Railway.
Radio Corpn.......
Sears Roebuck
Standard Brands
Standard Gas
-1.00 Standard Oil Co. of New
Jorney
0.40 Socopy Vacuum Corpn.
Texas Corporation
Träne America
1.20 Union Carbide & Carbon
6.00 Union Pacific (1
United Air and Transp United Corporation United Sistes Steel
6
Excellent Passenger Accommodation Lassenger fare Hongkong/San Francisco G8120 (1st class only) For Freight and Passage, etc, please Apply tos
The Chinese American Shipping Company
"Agent"
371
197
12}
309
949
HONG SLING
52:
112/112/
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