MONEY AND
HONG KONG DAILY PRESS. THURSDAY, JUNE 22, 1933
MARKETS
THE SHANGHAI MARKETS
CHINESE MILLERS HOLDING OFF FROM WHEAT PURCHASES
'Thanks to a 'goed demand, prices in the local cotton market are" advancing, while this artificial silk yaru market for the first time in weeks has shown some business, following a reduction in the The local whent market is price of one of the Italian products. noa depressed by the American loan purchase, and the Chinese farmter new harvesting his crop will probably only realise low prices,
PIECE GOODS.
The pievegoods market during the week under review has been ex- reelingly quiet in all directions and with no inquiries for cotton goods. There were a few inquiries in the market for wollen goods, principally tropical suitings for bus has been which SCHNE brought to book, together with small quantities of fairy suitings.
Cleariners have fallen off and at present are slower that they have
WHEAT AND FLOUR.
During the past week world wheat markets have been rather lifeless and little business has be
reported, while prices at the close were practically unchanged. The ha been less Chinese market spectacular, speculators apparently still holling on to recent heavy purchases and not as yet having started to liquidate. The Canadian market is steady but, as reports of the new erop) are very farburable, it can easily decline. The Austra-
SINGAPORE MARKET
CHEERFUL
BUYING OF TIN AND RUBBER SHARES
Singapore, June 14. Since the issue of our last weekly circular the price of tin has been subject to wide fluctuations in the world's markets, particularly in London, sintes Fraser and Co.'s r port.
As regards the local market there has been rather less activity in tin and rubber shares as against the business put through during the previous week, nevertheless a heavy turnover can again be reported but prices offered have ruled slightly below last week's levels.
With comparatively little scrip offering, quotations of local indus trials continue to advance and considerable number of buying or ders remain unfilled at closing. Straits and F.M.S:S. Loans. on the other hand, were freely offered and registered declines of between two
the market closing and three points before buyers were attracted,
bern at any time during the pastitam market is very firm on recount steadier at the lower levels.
three ths. Market prices con- inne steady, while stocks of fancy Fargo are, on the whole, light.
etton
Tins 37-40.
Mining.
Ula Pinhs
کھ
HONG KONG STOCK
MARKET
YESTERDAY'S OFFICIAL
QUOTATIONS
There was no change of any con sequence to he noted in the short kalf day to-day, but Banks eased off somewhat owing to firmer ex- change.-
Sales.
"
Hong Kong Banks, $1,750. Canton Insurances, $300. Union Insurances, 8535. Providents (Old), 83.05. China Lights (Old). 813.10. Electrics, 8731/733. Telephones, 820).
Buyers.
Douglases, 832.60 Indo-Chinne (Prof.), 830. Yena: Goldfields, $4).. Benguet Explorations, 29 cents. Docks, $181.
Providente (Old). $3.05, * Hotels, 87,
Hong Kong Lands, 8783. Ewo Cottana, Sh. $14.70. Peak Trams (Old), 818}. Electrics, 873}, Telephones. 8291..
Cementa (Combined), 87.45. Dairy Farms, 8971. Govt. Loans, 3 per cent. Prem.
Bellera.
Hong Kong Banks, $1,750. Hong Kong Trams. $21.80. Govt. Loans, 4 per cent. Prem. Wallace Harpers. 88.
EXCHANGE
CLOSING QUOTATIONS
June 2, 1934.
..
UN LONDON,-
Telegraphic Transfer... Bank Bills, on demand 1/4) Bank Billa, 4 months'
Fight Credits,
OF
months'
sight
/A
NEW YORK:-
Bank Bills, on demand 2 à nom Credits, 60 days' sight.. nom PARIS:-
ON INDIA:-
ام
į
THE EXCHANGE MARKET
MESSRS. ROZA BROS.. REPORT
Mosers., Roza Bros. have for- warded us the following exchange market report for yesterday :-
Silver prices were unchanged yesterday, quotations remaining at 13 3/16 for: Ready and" 191 for Forward. Silver advices reported speculators having operated hoth ways.
The Continent sold. American speculators were more inclined to sell than buy. The American price was lower at 35 13/10 for Spot.
New York advices reported the opening rate at 4.8 and the clos- ing rate 4.18). The highest rate
done was 4.191.
Markat.
Dull, the undertone was inclined to easiness.
Sterling.
The market opened with sellers at 1/5 1/32, buyers bidding 1/5 3/39 but the buying rate soon receded to 1/3 1/32 at which rate some business, was done for July deliv- ery. The market closed with sellers at 1/5 June/July, 1/5 1/32 August and 1/61/18 September, buyers probably at 1/32 higher respective.
ly.
Gold Dollars.
No business was reported. The market closed with buyera at 991 June, 29 11/16July and 20 13/16 August, sellers at 291 June, 29 9/16 July and 29 11/16 August.
Yen.
Merchants were quoted at 119 for near delivery.
Shanghai Dollars. Were quoted at 110 for cash.
Shanghai,
The market was steady but quiet; Business, was reported at 1/3 for July delivery. There were pro hable sellers at 1/35/16 for near, buyers at 1/3 for cash,
51 un
60
On demand
Bank Bills, on demand to Credits, 4 months' sight #40.
ON SINGAPORE ! --
On demand
ON BATAVIA X---
Telegraphic Transter... Bank, on demand
On demand
t
921
ON SALOON:
On demand
On Demand ........... 1195
On demand
ON BANGKOK :-
On demand
ON SHANOBAL
ON KOBE: ON MANILA
of the low stocks of old crop wheat and of no material improvements as yet in weather conditions for the
The smaller-priced tin shares met Cotton, Yarn, etc.
new crop. The Australian export.
had been with good support throughout the alle surplus, which Messra, J Spunt & Co. report:estininted
85,000,000 week and Kinta. Tin Dredges were around it
div, Penawate 78-81, other shares Chinese Cotton: The demand for piculs, has been reduced to approxi.in demand from 1.10. to 1.22 cun actual ention has been very active mately 150,000,000 piculs, because changing hands between the fol and prices throughout the week 50,000,000 piouls have been sold and lowing prices: Sungei Luas 1.03 were steadily firming up. Although exported to date. The innrkets in 1.03-1.02, Hong Fatts 42-44-43, Tai- the demant on the part of the local the Argentine have similarly a very
Klang Rivers 1.06-1.0-1.07, Peta-ON Chinese spinners has been of a very steady wadertone as it is estimated pings 46-45, Ulu Klangs 80-01-87, sparing nature. absorption by that only 30,000,000 piculs, approxilings from 5.75 to 5.80 and again foreign mills has been quite brisk, mately, are left for export during the former figure, particularly of the silky staple the next seven months, this figure at 12, Malaya Consolidateds 18-20, suitable for spinning 20 being very low as compared with Kuchais from 75 to 73 and Hitam counts: The futures market muy fernier years.
There was comparatively little I said to have been very nervous Business in foreign wheat in and erratic, being very sensitive to hina has again been wil. Up to doing in London sterling shares, any little rumours that were being date no definite news is available in Australians were again fairly circulated in the bazar and to the trade as to the quantity and active, transactions taking place in which prices responded very quick intended. disposal of the wheat Kampong Lanjuts at 14., Kam- ly. On the whole the undertone purchased from the U.S.A. under pong Kamuntings 86. ed., Pungahs of the market is rather steady as the recent loan agreement. Local 20s. and 208. 8d., Pangnga Rivers Ratruts at 5id.,' with the exception of some 10.000 mills anticipate being able to pures. 9d.-78.,, and pienia Tientsin rough cotton there chase this wheat at very low prices, whilst Raubs opened at 5.33 with are practically no other grades of and consequently are not interested further business at 8.00 but closed the indigenous growth to be tender in considering the importing of rather wenker and now on offer at ed, owing to the prices of the latter, other varieties. At the same times.95 cum div.: Offers of further wanted, and Klang ruling at higher figures when cum- the local market is depressed by the Fungahs are Fared with that of the standardlonu purchase, and consequently the Rivers could be placed at market. button.
The Americas market is Chinese farmer, who is just harvest- Malayan, Collieries being enquir keeping in a steady direction and jing his crop, will encounter a very ed for in quantity up to 17.50. At and Southern the Bombay markets do not show weak market, and if he want to sell closing there were shares available any marked weakness though the his wheat will have to take wuch in Ayer Hitams expectations there are for lower lower prices than he could have Malayans at 13s. d., also Hong
A's it
Fatts at 48, South Taipings 221 rates on account of the Japanese anticipated two weeks ago.
matter of fact, prices quoted on the and Ulu Klangs at or near 88. boycott.
local wheat exchange have declined materially, which shows no propor tion to world market developments. in a far as the domestic growth The simple fact that wheat from the is concerned, though is a specula-1.S.A. will be forthcoming has tive market it would be, imprudent made the Chinese farmer the suffer to ignore the possibility of a temer. The Shanghai flour market is porary, turn in the tide, but taking similarly depressed and prices have into consideration the various faedrelined by several cents a bag. tors one cannot help but recognize
A few cargoes. of Australian present prices of the local staple wheat have arrived during the week,
cheap. as being comparatively
and these complete, the purchases of Owing to the boyent of Indian Chinese millers from that part of vottun. our industrious neighbour the world. will naturally have rcourse -supplies from this market and nn- less considerable deelines take place in American and Indian markets. we do not foresee any heavy drop in the local market. Therefore, we would advise our friends to take advantage of weak markets to buy, us. the present mutlónk appears not to offer any foundation to except lower prices in the long run.
Looking at the situation broad ly, we favour the constructive side
been
tr
RICE.
The rice market has continued dull during the week under review; with very much less demand for all qualities, particularly so as regards foreign rice. This is chiefly due to the financial situation of the coun- try with the result that holders of Chinese rice have given up hope of any appreciable advance in price. and are now sebding all their avail-
Rubbers.
Dollar rubbers have again been moderately active and Ulu Benuts were put through from 24-26, Men. takahetween 25-26-24, Pajams 105-1.12 and 1.07, Tapans 1.05 1.10-1.09 Kempas 90-7.00-20, Lunas 1.10-1.12-1.0, Tambalaks 41-39, other transactions being in Ayer Panas from 65-674, Kedahs 1.05- 1.75, Keala Sidims at 1.70 and Perak River Valleys 45 and 46.
Orders remain open for Kedahs, Brunei Uniteds, New Serendahs, Parit Peraks and Utan Simpang at or near market quotations and bids are requested for Alor Gajahs, Ayer Moleks, Ayer Panas, Brogas, Chankat Serdangs, Glenealys, Nya. las, Pajams, Tapahs and United Malaccas
Industrials,
solidated Tin Smelter Ords were booked at 19s. 3d. Gammons were unchanged and marketed at 93 and 4, also Malacca Electric Ords at 1.00, whilst Malayan Breweries im- proved from 82 to 66.
Holders of local industrials have to meet buyer' been disinclined Yarn: Fluctuations in the yarnable rice to Shanghai, where money ideas of prices and business bas market during the past week have is freer than elsewhere, with the been considerably restricted in con- the further result that prices have sequence. Straits Traders advanc somewhat erratic but tendency on the whole has been on declined all round during the pasted from 21.20 to 21.70 when email the rasy side and prices declined few days. Businees has become ex- transactions took place and Co- about a couple of dollars per bale tremely difficult as dealers: have when compared with the level last adopted a bi-monthly settlement of current. Actual business continued accounts and in this connection it in a limited scale. Producers are is reported that seldom do shops keen yellers at even sacrificial prices and dealers in the outports pay but absorptions are very poor and their accounts in full. there were no big lots changing hands during the werk under re view. Having in view the high prices of the raw material, it ap pears unlikely that any serious declines in yarn values will be ex- perienced for the tiran being.
SILK...
PRODUCE.
Very little interest is being shown. in the China produce market by the various buying centres abroad, and local business remains practicably at a standstill.Apy signs of buy ing interest immediately occasions a sharp rise in local values beyond practical levels.
* PAPER.
Dunlops were sold at 318. 9d, and Imperial Chemicals at 27s. 6d.
Insur-
Amongst Preference issues Con solidated Tin Smelters changed hands from 245, 4id. to 248, and Malacca Electrica at 1.87 with further buyers. Amongst Ance issues a line of Union Insur ance of Canton was put through at 326 and 327. South British 22.25 and Eastern Uniteds at 20.30. A fair activity prevailed in the
No transactions can be reported; local silk market during the week,
in Straits Steamships which have with transactions amouating to
advanced from 13.25 to 14.00; bid Rome 000 bales, chiefly for the
Although locally the paper without attracting & seiler and U.S.A., the principal qualities' being Stenin Filatures 20/22 and market is very quiet, and only few United Engineer Ords put on 50 orders are being placed, home mills with bayers at 5.15 with here again Shantung. Filatures 13/16,
seem mostly to be fairly wall sup no shares offering. There still re both of which further advances in
plied with orders, the result
main enquiries for Fraser & Neave price were paid. The Lyons market
being that prices art being Ords. at 9.10, Great Eastern Lifes was chiefly interested in Szechuan well maintained and there is at 70.60, Hammers 26.28, Malacca. Filatures, which were in good de an even inclination to an upward Electric Orda. 1.00 Singapre Cold. mand but for which business re tendency. This, coupled with the Storages 2.70 Wearnes and Robin- mained restricted as holders, had heavy paw duties, makes business n Ords having all round buyers practically withdrawn from the inorensingly difficult on the local at or near market quotations. market, a few transactions being market and dealers and consumers
The local industrial market closes made at increased prices. Some 50 are very reluctant in considering
for
bales of Tussah changed hands at the placing of substantial ordera irmer than for many months past. A further advance of approximate. Further, it is feared that goods ly eight per cent.
manufactured in the Far East will
...New York and Japan were neroon again be competing against the only to buy absolutely necessary vous with frequent and heavy fue goods imported from Europe and quantities from the latter, specula tuations. In Shanghai the week America, which is causing dealers tive buying by dealers doing very
#mall, ¿Continued on previous column) closes rather quieter.
(Continued on next Column)
SOVEREIGNS, Bank Buying
Rate
BAR SILVER, per OL
NEW YORK STOCK EXCHANGE
ASIA LANDS, LTD., QUOTATIONS
(INCORPORATED IN HONG KONG.)
Tel. 28380-Gloucester Building, Room 300.
[BEUTER'S AMERICAN SERVICH }
Now York: June 20. Dow Jones Averages:
30 Industrials
20 Raila
20 Utilities.
40 Bonds
Low: June 19. Júné 20.
05.23 41.22 95.99
44.92
High-1932
88.78
41.30
13.23 44.73
30.11
83.26
16.53 36.20 65.78 84.65
133
1/52
19 3/16
ISIDENT LINER sall 1,591,000 miles every year....
Weekly Sailings Transpacific
13
REDUCED
ROUND TRIP FARES
On Sale from JUNE 1st.
17
to
JULY 31st
With Return Limit to
September 30th
Hong Kong to
Honolulu and Return Victoria and Return Vancouver and Return Seattle and Return... San Francisco and Return
Los Angeles and Return,
First Class Tourist Class
G$360
08196
G$ 432
G$ 210
G$ 432
G$ 240
G$ 432
Q$ 240
G$450
G$ 240
G$ 450
G8 246
Apply for further particulars,
DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE
FEDDER BUILDING—HONGKONU.
CANTON BRANCH:-, SHAXES ROAD.
PACIFIC ORIENTAL
MONTHLY CARGO AND PASSENGER SERVICE
M.S. 'SELANDIA' Sailing on or about FOR LOS ANGELES, SAN FRANCISCO. 22nd JUNE
ETC. via SHANGHAI...
CARGO AND PASSENGERS ACCEPTED FOR SHANGHAI, SAN FRANCISCO, VANÇÕUVER, SEATTLE, LOS ANGELES, ETC. THROUGH BILLS OF LADING 185UED TO OVERLAND POINTS.
Excellent Prenonger Accommodation
Passenger fare Hongkong/San Francisco G8120 (1st class only)
For Freight and Passage, etc. please Apply to:
The East Asiatic Co., Ltd. The Chinese American Shipping
リ
Change
.76 down
.51 down
34.88 1.28 down 84.76
.21 up
Asia Lands, Limited, has received the following report from their New York correspondents, E. A. Pierce & Co. The market acted as though frightened over the large volume of business and the sharp rise yester. day. Early today considerable realising occurred, perhaps represent- ing profit-taking on the part of traders who bought stocks for a reac tion. We believe an attempt will be made in the near future to push through the high levels of early last week, Wheat: The early gains were lost under selling pressure, influenced by the weakness of the stook market and other commodity markets. Eastern interests were good buyers. Cotton: Demand from the Trade and speculators was less aggressive, favourable weather being an important factor. There are reports that Southern farmers are willing to co-operate in the acreage abandonment plan. Silver: The failure to respond to strength of cables was due to general commission house liquidation of foreign accounts and to Trade sollers. Business Done: 6,480,000 shares.
1932
DIV. 8 Low PER. SH.
Canadian Paciko
LAST SALE
161 184
541
Agents:
JOHN MANNERS & CO. LTD.
Company Agent:
HONG SLING
Ofice: MERCANTILE BANK BUILDING (TOP FLOOR), 7, QUEEN'S RD., CENTRAL, TELEPHONE: 24071.
Asia Lands Limited
3
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
Canton Agents
John H. Ferguson & Co.
L
32, B. C. Shameen.
HIGH
84
June 19. June 20.
30%
3.0
Air Reduction
8802 8831
122
42
6.00 Allied Chemical & Dye
117
115
90
208
4.00 American Can
92
37
D
American Smelting.
આ
137
701
9.00 Américan Tel. & Tel
1311
33 137xd
92+
44
5.00 American Tobacco "B
69
40
11
1.00 American Waterworks .........
39
37
198
3
161 Anaconda Copper Mining
16
1014
281
2.00 Auburn'
est
182
-Bendix Aviation
17.
17
431
18
1.60 Borden Company
351 34
7+
www
88+
102
J. L. Case. Apar
823
29,
48
0.50 Caterpillar Co
23
221
17
2.00 Chase National Bank
314 bid 314 bid
5
1.00. Chryaler Motor! .....
32
314
3.40 Consolidated Gas of N.Y.
00%
501
31
Curtiss Wright
31
3A
38
23
3.00 Drugs, Inc. ......
354
89
22
2.00 Du Pont de Nemours ..........
701
76.
871
-3.00 Eastman Kodak
........................
"81"
324
Electric Auto-Lite Co.........
24
6% 8. Electric Bond, & Share......
231 384 359
48
24
Electric Power and Light...
13
12
80.40 General Electric
237 23
19
1.60 General Foods
·301
28
78
1.00 General Motors:
294
971
242 244
10
1. Gillette Safety
15
151
Bi
1.20 Gold Dust
227
0.00 International Harvester ..
40
30 rd.
09
7.00
(Preferred)
112
112 bid.
18
17
20%
85
341
4.00 Liggett & Myers "B"
932
93
1.00 Loew's Inc.
MA
21
241 234
2.80 National Biscuit
55k 352
1.00 National City Bank........
35) bid 331 bid
641
319
10
1.20 National Dairy Products...
22
218
0.00 Otis Elevator ...............
£24
always afforded a valuable indica
2.00 Pacific Gas & Electrio .......
Packard Motors
201
282
0.50 Pennsylvania Railway
23
Radio Corpa,
10
tion of world trading and commer January cial activity, it is hoped that it will February he found of value to observers of March world economic conditions.
Sears Roebuck
*34A
348
April
1.00 Standard Brands.
20
20
Standard Goe
191
1.00 Standard Oil Co. of New
Jersey
37
37t
Socony Vacuum Corpa,...
12
12
1:00 Texas Corporation
Trane-America
International Tel. & Tel.
Montgomery. Ward
Tel. 18624.
TELEGRAPH RECEIPTS
INDEX NUMBERS INDICATE WORLD TRADE
- 1
panies, and the total figures for 1920 taken for purpose of compari son in establishing the index 100,- have therefore been adjusted when necessary by the mission of the receipts accruing in the areas affected. The index numbers are,"
Imperial & International Com-in consequence, all shown upon, a munications, Limited, are to issue comparable basis.
Monthly figures reduced to work an index number of message re-
ceipts in time for publication on ing day average.cata the 20th of cach month, and as the
Working day average of compar
course of these traffic receipts has able receipts, year 1929–100.
These index numbers represent May the estimated monthly receipts June from traffic as related to compar: "July ablo traffic in the year 1920. D-It, Aug should be noted that since 1900 the Rep operation in various overseas areas | October has been taken over at different Ne dates by the local associated com December
1930 1931 1932 1933
95.7 81.2 82.0 71.7 94.5 70.0 77.8 70.4 04.9 74.5 714 718. 80.268.8 07.7 70.7
80.8 66.7 63817 BAIT OLD DONE. 81,4 | 78,04 74;4 62,5)-77:612712
**** 80.479.0 73.0 WW 87,1 83.6: 78,8
96.8 76.3 73.4. 00.0
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