1933-07-06 — Page 13

DAILY SHARE QUOTATIONS

HONG KONG STOCK

EXCHANGE.

HONG KONG DAILY PRESS, THURSDAY, JULY 6, 1933

MONEY

Sxive Homina

SHAREBROKERS' ASSOCIATION,

Bayers Baller

WEDNESDAY.]

Buyer Seller Wairs Newton!

JULY 5,

Banks

Do. (London) ...

$1,785

H.K. Banks

£132

214)

Chartered Banks....

£241

Morcantile Bks. "A"

£91

Do.

C

$101

76.00

$1,770

***

W

HI

NU

Bank of East Asia... 3101

N. C. & 8. Barks...

Am. O. Fin. Corp: B.

$6.40 Ch Fi.Corp. Ord. .

Do. Fret. S

Insurances

Canton InsurANONE....

Underwriters

Union Insurances ...|

China Fires

****

AND MARKETS

FINANCIAL NOTES FROM LONDON

$20 America and Silver: Callender Cable's Contracts:

$995

*$9.40

#ngs

3500

$250

$34

રાક્ષ

$30

รม

5310

$2.40

$8491| 3852)]

$595

***

$270

H.K. Fires......

$13

International Assce, 3.

Shipping

$120

Douglasea

#18

Stenniboats

130

Indos (pref.)

8321

Do. (def.)

56/3

Sheild ******

$15

Waterl-outs

$15

Mining

333

Benguete

Venezuela Gold Fida. $4.80.

$34

Kailans

33/1

$171

Langkals (single) 8.

25/.

$17

13

Explorations.

Shaghai Loans

D

$9.80

12.

$10.101

#16j

-

20.40

114

Raubs

Tronoh Mines

28 ats, Benguet Explorations

Docks, Wharves,

Godowns, ste,

H.K. & K. Wharves.

Do.

(new) ... $1 40

$130

$5,95

Providents (old) ...

31.45

H.K. & W. Docks

H

$10

$8.

S. China Motors' A

Do.

$149

#331

Shanghai Docks, S.

New Enginearings 3,

Hongkews....

Lands, Hotels, and

Buildings

H.K. Hotels ag H.K Lands. 8. $74

37;

481-

$128

$3.95

317

38

$8

$140

$7 $78

$762180

332)

Shanghai Landa...8.

$14

Metropolitan Lande..

$7.90

H.K. Healties.........

171

$141

Chins Do...

$137

Do. Debentures8.

$14

$14

$140

$20

$7

"B" 8.

Humphreya

Asia,Rosities “A” S.

Do.

Chinese Estates.....

Cotton Mille

Ewo...........8. $15

S'hai Cotton......8.

$141 Zoong Sings.......S.

Wing On Textiles(3.)

$14.90

$100

508

Tramways

Star Ferries......... $83

Yaumati Ferries..

45.18/13.20*

107

THE

8144

198

141

Public Utilitie

$11.80

HA

$1

372

Poak Teams (old) ....

Do,

***

$15

(new)...

376

$2

129

$281

313

China Lighte (old)...| $13;

$1.

Do. (new)... $12

H.K. Electrica... $73

$13

Macao dosper

8104

Sandakan Lights...

23-J

Telephones...tolat

130,20

8111

China Buses. S.

1/-

Tractions

13'-

10. (pref.).....

Industriais

SIA

Malabon Sugars

320

Caldbeck, ord.) 8.

$16

Macgregors prof.)8.

$6

Canton Icester

363

Cements (comb.)....

76.90

16

Do. (old)...

15

$1

$9

Do. (DOW)... Ropes

$11

19:

$38.16 $29.40

Dairy Farrua

$29

#1

Dor A Wing..

$121

Amusements...

$12.08)

Ch. E'tainment........

$3.90

$4

$1

84.50

prem.

$21

Miscellaneous

Constructions, (old)

Do.

(new)

Lane Crawforda.....

Mackintoabscess

Nanyang Tobecoo.....

Sinceres ******

Watsone ..

$14

32.10

W. Powells

$10.

M. Greyhounds....

$8

8. 0. Enterprises...

United Theatre...8..

ILK. Govt. Los... 2

Wallace Harper.......

China Sporta Ltd....

77, B. Ind. G. Bands... 76%

$188

H.K Wing O......

S'hai

Do

$15

Du eta $1,40

Businessman on Recovery: G.E.C.'s Profits

Maintained: Silver and The East, Tokyo Electric's Earnings

(Special Air-Mail Service}

SILVER'S FUTURE

LONDON, June 92. While it has been rumoured for some time that the American debt payment might be liquidated in part by a transfer of silver, the actual announcement evoked con- siderable interest in the bullion market yesterday.

The powers which were conferred on the President to accept a pay. ment in silver were included in the Farm Relief Act, and were framed specifically for this contingency of war debt payments. since they run for a period of six months only from the passing of the Act, which was May 12, Unless the powera are extended there any other occasion on which a payment in silver can be, made,

be

no

The possibility of an indefinite number of such transfer with its stimulating effect on silver may thus be ruled out, though the issue

entered upon an ascending curve,

Recovery, in his opinion, is cer- tain to be slow, and there are sure. to be considerable fluctuations. "These factors." he added, "lie outside the ambit of our control. The most that we can achieve is to meet as efficiently us we may each emergency as it arises and con- stantly to endeavour to better the organisation of the company. By this means alone can we hope to secure that when prosperity re- turns we shall be in the best pos-. sille position to avail ourselves fully of our opportunities." is sound industria! philosophy, which is likely to stand the com pany in better stead than the over- reliance upon Government assist- ance which has become so deeply ingrained in certain sections of industry.

G.E.C.'S DIVIDEND

This

The

liminary figures issued last night show that the profit amounted to 130 in the previous year. £1,012,739, compared with £1,037, directors have apparently decided to continue the conservative policy. adopted last year, for although the net earnings are equivalent to roughly 16 me on the Ordinary shares the dividend is maintained at 8p.c. for the year.

In spite of difficulties in the ex- of silver certificates and the coin- port trade, the General Electric age of silver in America in pur-Co. succeeded in practically main- suance of the President's powers,taining. its profits last year. Pre- was doubtless intended to encour age the greater use of the metal.

The reasons advanced yesterday for the strength of silver pro- ducers' shares and the rise in the price of silver, may have been based erroneously on the belief that a new era had opened for silver. Actually, the silver will be trans- ferred from the Indian Govern ment's silver reserve, where it has been held, to the U.S.A. to increase the supply of silver coinage in Amerien. As the Indian Govern. ment will not replace the silver which it has sold, no benefit ac- crues to the silver mines or those undertakings which produce silver as a by-product.

· A BETTER OUTLOOK!

A year ago, £130,000 was added to the reserves in view of the un- certain outlook and presumably a further substantial transfer has been made on this occasion. The June 8. anaual meeting will be held on

BOOSTING SILVER .. The Executive Committee of the Federation of British Industries passed yesterday the following re solution, which has been forwarded to the Government.

The continued depreciation in the value of silver," which has been for centuries and is still extensive" ly used as a means of storing wealth in India, China, and other parts of the Far East, has played such an important part in reduc-

At yesterday's meeting of Cal lender's Cable, and Construction Co., Sir Fortescue Flannery, the chairman, "in elaborating the re marks of the directors in the annual report, claimed for the company a leading position as pioneers in electrical development. He explained that the special re- serve fund of £200,000 established to meet contingencies in experi-ing the demand for the products mental work had been more than sufficient to cover the immediate cost of renewals and replacements. The drop of £93,000 in expenditure on uncompleted contrasts, he said, did not indicate a falling off in work, but was due to the fact that in connection with large contracts for overhead work there happened to be less uncompleted work than at the end of the previous year. -

Sir Tom Callendir, the manag- ing director, who reviewed the pro- gress of the company's business | described the outlook as better and more assured than it was a year ago. More orders are being placed. and they are orders of a welcome 318.80 kind, since they tend to bring in $94

other cables in the future. Prices, 31.50

however, are wretchedly low."

CAUTION AND ENTERPRISE

$2

$190

The blend of caution and enter- prise which have helped to build up the greatness of J. & P. Corts, the famous cotton thread combine, was admirably typified in the chairman's speech at the annual meeting yesterday. Referring to reports of visible improvement in business, Mr. J. O. M. Clark enid SUNDAYS & HOLIDAYS that the company's own figures for the present year did not bear out the suggestion that trade had

LOCAL, AND BEGULAR OUTWARD MAILS,

Canton ...

A

WEEK DAYS,

FROM Q.P.O.

FROM

BRANCH PO.

FROM G.P.O.

FROM SASUNGWAN BRATOR P.O.

§ 7,15 km, &] § 7,00 Km. 16,00p.m.

17.00pm.

Samahui and Wnchow (Br}|| 4.00 p.m.

1

direct steamer)

7,00 am & 17.15 am, & 15.00pm.17.00 p.m.

4.00 3.

· 4.00 p

1,00 1,2,

Maczo & Twinshan

H

7.15 m. 17,80 m). **{1.15 Jun 11,80 p.m.

6.00 p.m. 6.00 p.m.

(8.15 am. & (850 mati, #

1.15 p

1.80 j Sundays Banday 8.15

8.30 only

Lonly: 6.00 pm:

$6.00 p

8,00 x

7.15.m.

7.15.10.

* Zongmoon (except Eaturdays)| | 6.00 p.m.

Kankong (except Saturdays)

Estahan and Wochow (By}

Train)

IND

Tai Fo

Eburchun

Chenngohow

***

ре

Bhatankok and Sheung

1.00 p.m. f£,00 m,& £8.00 p £9.00 am. &

*** 18.00 p.m«

1.00 p.m. &

16.00 pe

Aberdeen

8.00 $

MO

144

Stanley

+

Auta

12.30 p.. 8,800

*

Pingahan, Santia

Thatin,

8.00 pm.

Faikung ...

Famtac Brekk, '& Taiping

4.80 p.m

7.00 p.im

11.00a.m.

9.00 $..

11,000,

(11.00 B $25.00 pm.j

8.00 0. 11,00 B.80 m,

10.30.

10.80 $0.

7:00 pm

of manufacturing industry in those markets that, in the opinion of this committee, his Majesty's Gov- ernment should be strongly urged, at, the forthcoming World Econo- mie Conference, to give every en- couragment to any practicable pro- pusals for raising the value in re- lation to gold, and promoting the stabilization of silver.

HONG KONG STOCK MARKET

YESTERDAY'S OFFICIAL

QUOTATIONS

Further firmness was displayed by Banks and 'Unions, and prob ably higher rates than those quoted in the official list would be paid if any shares are forthcoming..

Hotels and Cements were again the centre of activity, and «some fair-sized parcels changed hands both for cash and forward.

Bales.

Hong Kong Banks 81,785. Hong Kong Lands, $769/78,50 Telephones 830,

Buyers.

Bank of East Asia 810L. Union Insurances $312). Raube $10.10. Docks 8161, Hotels $11.

Hong Kong Lands $701. Realties .00

Ewo Cottons Sh. $11.00. Hong Kong Trams $29, Star Ferries $82. China Lights (Old) 813. Electrics $731. Telephones $201. Cementa (Combined) 867. Dairy Farms $25.10. Government Loans 31 per cent.

premium.

Sellers.

Union Insurances 85321. Yaumati Ferries $28. Dairy Farms $28.40. Watsonk $10.

Entertainments 8114.

LONDON. EXCHANGE

RATES

[BRITIJA WIRELESS SERVICE.]

Paris New York

Montreal

Brussels Geneva

Amsterdam Milan Berlin

13

president liners

@a11* 1,5.91,000 min 1 1 0

Weekly Sailings Transpacific

To San Francisco, Los Angeles & New York

via Panama Fortnightly sailings on Wednesdays Pres. Hoover ... ...July 18, Midnight Pres. Grant

...............Aug. I Pres. Coolidge...... Pres. McKinley Pres. Hoover.

Aug. 18 .......Ang. 30 ......... Sept. 13

To Seattle and

Victoria

Fortnightly sailings on Saturdays Pres. Jackson July 7, Midnight Pres. Jefferson.... July 21, Midnight Pres. Cleveland .............Aug. 11 Pres. Jackson.Aug. 25 Pres. Jefferson..........Sept. 8

ROUND TRIP FARES TO EUROPE & AMERICA. Special through rates to Europe via United States, Direct connections with all Atlantic lines, Choice of rail lines soro United States and Canada, liberal stop-over privileges for Sight-seeing. Full particulare apon application.

Fortnightly via Suez to Europe & America

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

8 a.. Pres. Bayes....

Pres. Van Boren .....Aug. 19 ...July 8 Pres. Pierce....... July 22 Pres. Garfield ........................................... Sept Pres. Mource.............Aug. 5

MANILA

TO

Next Sailing

Proa. Hoover

Pres. Jefferson

July 15

Pres. Fierco.............uly 22

Pres, Grant.............

..July 25

9 a.m.

Pres. Hayes July 8, 8 a.m.

Prea, Monroe...

Pres. Cleveland.........

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

Aug.

Aug, 5

...Aug.

'10

Connecting with 8.8. MAYON TO DEBU, ILOILO, ZAMBOANGA

DOLLAR STEAMSHIP LINES AMERICAN MAIL LINE

FEDDER BUILDING-HONGKONG.

CANTON BRANCH-4, SHAXEX ROAD.

NEW YORK STOCK EXCHANGE

ASIA LANDS, LTD., QUOTATIONS

(INCORPORATED IN HONG KONG.)

Tel. 26380-Gloucester Building, Room 300.

[RECTER'S AMERICAN BRRVICE}

Rugby, July 4,

85 3/16

4.491

.4.803

24.02

17,40

8.31

037/10

14,14

Stockholm

19.42

Copenhagen

92.40)

10.80

New York: July 3. Dow Jones Averages:

31) nom.

30 Industrials

113

20 Raila

Helsingfors Madrid

9201

20 Utilities

401

40 Bonds

Lisbon

110

590

3721

250

4 nom..

Oslo

Vienna Prague

Athens

Bucharest

Belgrade

Rio

Buenos Aires Montevideo Bombay Shanghai Hong Kong. Yokohama Silver (Spot) Silver (Forward)

414 O.R.

31 nom.

1/8 1/18

No rate 1/4 27/32

1/3

182

19

THE EXCHANGE

MARKET

MESSRS. ROZA BROS. REPORT

LLS

Mesars. Roza Bros. have forward- ed the following exchange market report for yesterday:

Silver prices were again higher yesterday to the extent of 5/18 for Ready and Forward, the quotations being 18.7/8 and 10 respectively. Silver advices reported China and India as having bought. were holding back. The tone at the close was steady. The New York market was closed yesterday.

Sellers

NO DIVIDEND According to telegraphic advices received from Japan by Messrs. Lazard Brothers & Co., agents for the bondholders, the receipts of the Tokyo Electric Light Company for the half-year ended May 31 amounted to 50,700,000 yen, com- pared with 68,200,000 in the pre- vious half-year. At the same time general expenses were reduced by 2,300,000 yen. Owing, however, to the depreciation of the yen. the ser- vice of the external debt and the provision for depreciation absorb- ed larger amounts, the increase in the cost of these two items during the Inst half-year, compared with the six months ended November 20, being 2,120,000 yen and 6,125,000 yen respectively. Hence the com- pany was left with a net revenue of only 340,317 yen, against

There were sellers after the open- 4,812,894 yen for the preceding sixing at 1/4.15/16, buyers bidding

(Continued on next Column)

Asia Lands Limited

Gloucester Building

Tel, 28880

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.

32, B. C. Shameen.

Tel. 13624

New York/London cross-rate were quoted as follows-The open- ing rate was 4.49) and the closing rite was 4.52). The highest rate wha 4.53.

High-1932

100.92.

49.78

37.50

86.40

Low: July 1.

41.22 100.02

13.22 40.76

16.63 34.03

05.78 86.40

Change

July 1. 103.77 2.86 up. 63.38 3.00 up

30.45 1.53 up

80.74 .34 up

Asia Lands, Limited, bas received, the following report from their New York correspondents, E. A. Pierce & Co. The President's statement. to the Economic Conference that it would be time to talk of currency stabilisation when the nations 'balanced their budgets; added fuel to speculative ambitions. Railroad epuipment issues and oils were the leaders, while the bond market also showed pronounced strength. Winnipeg private crop estimates are very bullish, showing the smallest yield since 1890, thereby amply confirming everything the trade anticipated.

The President's rejection of the the Gold Standard Note was a factor help. ing all commodities. Cotton: There was a broad demand early in the day, encouraged by strength in securities, and gains on optimistic trade reports and general business advances. This attracted a decided increase in realising, which continued more or less for the balance of the day. Late selling was attributed to the statement appearing on the ticker to the effect that some scepticism is felt by official regarding the success of the acreage reduction planned.

We believe that purchase in easy spots will prove profitable.

Business Done: 6,720,000 shares.

189

Canadian Pacita

40.50 Caterpillar Co.

3.00 Chase National Bank

1.00 Chrysler Motors

3.40 Consolidated Gas of N.Y.

Curtiss Wright

3.00 Druge, Inc.

2.00 Du Pont de Nemours

3.00 Eastman Kodak

6% a. Electric Bond & Share......

LAST SALE

1932

Drv. 8

HIGH Low PER, 8,

July 1. July 3.

92)

30%

3.00 Air Reduction ...

(02) 883

129)

42)

6.00 Allied Chemical & Dye

1201 133

293

4.00 American Can

93

36

5

American Belting.

358

37

1378

70+

9.00 American. Tel. & Tel...

129

131

93

44.

6.00 American Tobacco "B"

po

911

40

11

1.05 American WaterworksTM

30%

10g

Anaconda Copper Mining

38

197

1074

281

2.00 Aubura

CB

69

19

42

Bendix Aviation

10

101

43

18

1.60 Borden Company

30A

30

20

71

IBA

19

162

Case

005

24,

254

.24)

47t

178

20 xd 30 bid

36%

5

381

34

61

23

93+

877

321

Electric Auto-Lite Co...

Electric Power and Light...

12%

1/4.31/32. A small business was reported at 1/4.15/16 followed by transactions at 1/4.31/32 for July and 1/5 August. The market closed with sellers at 1/4.31/32 July- August, buyers at 1/32 higher res pectively.

28

84

0.40 General Electric

24

401

198

1.80 General Foods

371

71.00: General Motora

301

-31

30

24+

101

10 Gillette Safety.

147

́-152

24

81

1.20 Gold Dust...

24

434

10:

0.00 International Harvester .....

40%

7.00

113 bid. 116:

113

13.

18

Gold Dollars.

107

34

4.00 Liggett & Myers "B"

942

&

1.00 Loew's Inc........

371

201

xhx

*

2.60 National Biscuit

68

181

1.00 National City Bank

35 bid 35 bid

312

104

1.20 National Dairy Products

0.00 Otis Elevator

37

18

2.00 Pacific Gas & Electric

Steady,

Market...

Sterling.

Business was done early in the morning at all for August followed later by transactions at 31.0/16 August, The market closed with 'sellers at 31 July and 311 August, buyers at 1/16 higher;

Yen. Merchants were quoted at 1124 for near delivery.

Shanghal, Steady. Seller were indicated at 1/3 near, buyers at 1/3.5/16 July.

Shanghai Dollars. Shanghai dollars were quoted at

111.

months, and whereas previously & half-yearly dividend at the rate of 2 per cent. per annum was paid on the share capital of 420,562,000 yen, no distribution is now pos- sible. The balance carried for ward in raised from 5,218,392 yen to 5,531,009 you.

31+

38

194

.143

50%

48

(Preferred)

International Tel, &-Tel

Montgomery Ward

845 04

234247

57 581

272

24-24

18%

38

i

Packard. Motors

0.50 Pennsylvania Railway

Radio Corpn.

Sears Roebuck

1.00 Standard Brands

Standard Gaa .......

1.00 Standard Oil Co. of New

Jersey "Socony-Vacuum Corpn.

1.00 Texas Corporation

Trans-America

1-15400, 1.00 -. Union Carbide & Carbon ....

2746.00 Union Pacific..........

United Air and Transport..

0.40 United. Corporation

United States Steel. Westinghouse B&K