DAILY SHARE QUOTATIONS
HONG KONG STOCK
EXCHANGE.
Buyers Hallgro Baize
$101
3310
$1,840
£130
FRIDAY. JULY 28.
Banks
*H.K. Banka
Do. (London)
SHAREBROKERS'
ASSOCIATION.
Chartered Banke....
Buyers Kert
HONG KONG DAILY PRESS, SATURDAY JULY 29, 1933
MONEY AND MARKETS
ROOSEVELT AND HONG KONG STOCK RESTRICTION OF
$1,635
THE DOLLAR
£16
994
Mercantile Bks. "A"
· £24
EDI
Do.
Bank of East Asia....$101
N, O. & 8. Barks
$20
Am. O. Fin.Corp: 8.
4.
15.50 Ch. Fin. Corp. Ord. 8. 700
Do. Pref. 8
Insuranceg
· Canton Insurance.....
א1!
!!!!!!
Jur
1590
$269
$34 518
$30 $30 82/. ..$18
$310
32
Underwriters
JACKOR
$2
7010
Uaion Insurances ... UN49
3630
China Fires
"$165.
H.K. Fires...................
36,60 International Assoe, S..
Shipping
$32.60 Douglases
Steamboats
$30
Indos (pref.)
$34
Do. (del)
$13
Shells queÄasusənu
$15
Mining."
333
$5
Venezuela Gold Fida.
$4.86
30/B
Kailang
$16
34
Exploration...... 5.
Langkatą (sio glo) 8.,
35/
$6.40
Shanghai Loans
.
$4
$6
$10.15
| $9,50
12/-
$12:36 $731
$15
Waterboats
Benguata 135
Raubs. 42100000
Tronoh Mines .....
[28 ots.] Benguet Explorationa
$181
Dočka, WharTOS,
Godowza; sie,
$129
H.K. & K. Wharver. $137
13.80
Providents (old) ... :3
$3.85
$1.40
$16
H.K. & W. Docks
$140
:17
$10
B$
Do. (new)...)
S. "China Motorn' A'
Do
"g"
Shanghai Docks S.
$148 +37
$140
New Engineeringa 8.
*337
Hongasana?
Landa, Hoteis, sad
Buildings
H.K. Botola
$7.20
$78
H.K Land.........
2773
$32
Shanghai landa..:8
$14
"Metropolitan Landa..
$8.14
H.E. Healties.....
$15
China Do..........
$137
Dr. Debentu es
$14
$140
32U
Humphrey
New Asia Hotel..
Asia Resities “A” 8.
Do. "B"B
Chinese Estates
Cotton Mills
Ewos
S'ha Cottons......S.. Zong Bings ....S
Wing On Textiles(S.)
(now)...] $12.40
ur
194
$14
Physical Inflation Urged by Senator
Thomas
MARKET
WEEKLY REPORT
・WEB
Some irregularity
experi- enced by the market in the past week, but fluctuations were Con fined to within narrow limita. Banks and Uniona, owing to the
"CURRENCY ON NEW GOLD rise in sterling in the middle of the
BASIS
week, foll back from the best, but although exchange has re-acted since, they have not recovered their loss.
Closing tone steady." Business Done During the Week.
Hong Kong Banks, $1,850, $1,630,
$1,635, $1,540.
WASHINGTON, July 23
the general liat, the volume of While rumours spread over the country to-night that certain bank-business was not on a large scale, ing and stock interests expected an but some fairly substantial lots of early announcement from Washing- Trams, Star Ferries and Tale- phones have changed hands in the ton regarding additional monetary inflation, authoritative sources interval, the highest done in these close to the Administration said being 33,10,806) and $30.30, they understood President Roose respectively. J velt would permit the dollar to fluctuate until a satisfactory lovel for commodity prices was reached. When commodities appeared to be stabilised on such a level, the Pre- sident may then stabilise the dollar. The same sources said they be- lieved that the dollar, if stabilis ed, may be based oa
a new gold footing.
Observers painted dut, however, that the President bas 8.8 yet brought about no actual physical inflation and that the monetary trend depended on general business.
The Administration was urged to-day by Senator Elbart D. Thomas of Utah, author of the amandment giving the President authority to revalue the dollar, to begin the process of physical infla- tion and make $1.50 wheat a pos sibility.
Entirely. Psychological.
The inflation that has taken place so far, Senator Thomas said, has been entirely phychological al though there has been some infia. tion of credit, which resulted from the authority given the Federal Re- serve banks to purchase Federal securities
the amount of G83,000,000,000 and the various.om ployment and building measures.
Stock and commodity prices have 11.20 advanced in part due to the
pectation of inflation rather than the realisation of it, the Senator said.
М
-108
$90
$108
$141
201
Public Utliitie
$42.9
123
Tramways
$23
$15
Poak Trams (old)
315
#7#
Do (new)...
$96
$98
Star Forries
195
Yaaniati Ferries...
37+
$25)
$13
China Lights (old)...
$13.10
Do.
H.K. Electrice $73)
$23
Macao do.
F104
Sandakan Lights ....
128
$29
Telephones
P
8111
China Buses. 5.
Tractions
10/-
Do. (pret.)......
Industrials
$15
Malabon Sugara
31A
$20
Caldbeck, Yord.).
$18
Macgregore fpref.)8.
$6
Canton Ives********
36
Cementa (comb.)...
46:5
Do.
(old)...
$1.05
$5.03
$1
38
39
$28 70
:.
HAT
$13.00
$1
Do. (new)...
Roper
Miscellaneous.
Dairy Farma
Der & Wings....................
$141
Amusements ******
3114
Ch. Etainments..
13.30
Constructions, (oki)
321
Nanyang Tobacco........
Do.
Lane Crawfords..
Mackintoshsvers
Sinceros
Watsons
Wm. Powells.
Greyhounds......
$2.10
$10
8. O. Enterprises
#
United Theatres
B
7977,
B. Ind. G. Bonda........
prem
.38
Wallace Harper......
"$180
EK Wing On
'bai
*
$24.60
HE. Gort, Loans ........ $iii)
Do
230
$12
311
13}
ta
ex-
Canton Insurances, $320. Union Insurances, $570, #650: China Underwriters, 82.
- Haúba, #10.10, $10:15,
Wharves; 8130, #129). Providents. (Old); $3,80, Hotels, $7.30, $71, $7.20. Lands, $78.
The Thomas measure, aside from authorising the President to re-UN value the dollar, empowered him to issue new United States notes to the amount of 83,000,000. This, the author of the measure, said, the President has not done and he in- sisted that the time had arrived" for the issuance of a"part of this money."
The abandonment of the gold standard and the acceptance of silver payments from foreign deb tors were not considered as actual inflationary measures although they caused the dollar to slump in re lation to foreign currencies.
The fact is that the President has made but small use of the powers given him and many mOW believe he should use the major weapons," the Senator said.
To Assist Prices.
Others close to the President however, pointed out that, when
Traniways, 23, $22.80, $23 10,
$23.
Star Ferries, $96, #08), 800 China Light, öld), $13.10,
$13.20, $13.10.
13,
China Lights (new), $1243. Electrics, 8741, 874 Telephones, $30, $30.10, $30.20,
830.30, $30, $29.50, #293. Cements (combined), $8.10, 86.15. Dairy Farms, #98.35, $281. Constructions (new), 80, 85 cents. Govt. Loans, 45% prem...
Changes (3.15 p..) Closing Quotations. Buyers.
Electrics, $74. Telephones, $29.60. Sales. Govt, Loans, 4% prem
EXCHANGE
CLOSING QUOTATIONS
July 24, 1933 LONDON.— Telegraphic Transfer... 1 Bank Bills, on demand Bank Bills, months
Kight Oredits,
months'
sight
1/88. ON NEW YORK:-
-Bank Bills, on demand at nom
Credits, 60 days' sight.. nom ON PARIS-
"J
Bank Bills, on demand 5 21 A Credits, 4 months' sight 8314 ON INDIA:
Telegraphic Transter.. Bank, on demand
ON SHANGHAI:-
On Demand
ON KOBE-
On demand
ON MANILA:—
On demand
ON SINGAPORE:-
On demand
ON BATAVIA IŠS
On-demand
it was announced that the Admini- stration would use its inflationary ON SAIGON:— powers to assist price advances, the On' demand Administration meant that they ON BANGIOI:-
On demand
Rate
921
571
591
133
1/61
**** 18 2.18
85 cta would be used if there were more SOVEREIGNS, Bank Buying
than a temporary slump in bus!-
$1,50
ness.
RUBBER GROWING
NEW CONFERENCE MAY BE NECESSARY
THE HAGUE," July" 27. BJECTIONS which arose to the Anglo-Dutch rubber-growers as sociations' restriction scheme of this. afternoon's meeting between Dr. Vander Waals, the head of the Economic Section of the Colonial Office, and a delegation from the Dutch Rubber Gowers' Association, may necessitate, further delibera-
tions.
a
It is possible, indeed, that complete revision of the plan may become necessary.”
Such revision will doubtless taka some weeks as it will be necessary to re-open negotiations between the British and Dutch interests.
At the conclusion of these dis- cussions, both governments will give their decision after consult ing the governments of the Dutch East Indies, Malaya and Ceylon.- Reuter.
SUBSIDY FOR BEET SUGAR
EXTENDED FOR A YEAR IN BRITAIN
Lospos, July 27. THE British subsidy on sugar molasses manufactured from homegrown beet, which lapees on September 9, 1924, is to be continu ed for a further twelve months.
The Minister of Agriculture, making this announcement in the House of Commons, 'said that the subsidy on sugar would continue at the present rate of 76d. per cat No subsidy would be paid on molasses while the world price of raw sugar exceeds 79d. per cut. but a subsidy equivalent to 1d. per hundredweight of sugar would be payable for each penny by which the price of sugar was be low 72d until present maximum subsidy of 108d., per cwt. Was reached,
The decision was based upon an understanding with refiners and beet sugar manufacturers jointly to submit a marketing scheme and to co-operate a development scheme for the purpose of the rationalisa- tion of the industry.-Reuter.
MOST TRADERS SURPRISED
PRESIDENT Liners
PRESIDENT GRANT
WILL SAIL FOR
SAN FRANCISCO
Via
SHANGHAI, KOBE, YOKOHAMA
and HONOLULU
AT
6 A.M.
Monday, July 31st.
DOLLAR STEAMSHIP LINES AMERICAN
MAIL LINE
FEDDER BUILDING-HONGKONG.
CANTON BRANCH:-4, SHAREX Boad.
NEW YORK STOCK EXCHANGE
ASIA LANDS, LTD., QUOTATIONS (INCORPORATED IN HONG KONG.)
Tel. 28380-Gloucester Building, Room 308.
(KEUTER'S AMERICAN SERVICE.
New York: July 27.
Dow Jones Averages: High-1932 Low: July 26. July 27. Chan
30 Industrials
20" Raile
20 Utilities
40 Bords
108.27
41.92 95.00
50.53
13.23 47.25
37.56
88.84
-16.58 32:25 10.78-88.07
06.03 99 up
48.31 1.08 up 329106 down.
88.24.17 up
Asia Lands, Limited, has received the following report from their New York correspondents, E. A. Pierce & Co. Steel shares caled strong on the announcement of bids for the taval construction programme. The announcement in the middle of the session by the Treasury Depart peat prohibiting the export of smelted gold caused selling of gold shares which spread through the list which, however, recovered at the; close under the leadership of steal issues. Wheat: A bullish sentiment is again rampant, influenced by the bad Canadian crop reports and the strength in Winnipeg. Cotton: There was a fairly broad demand but the supply of contracts was limited. The sentiment has generally improved. A feature from now on will be buying by the Government up to possibly seven hundred thousand bales. Silver: Firmer, on good buying by banks and the Trade. Sellers have principally been Com mission houses and some foreign operators.
Business Done: 2,460,000 shares.
800
$80!
1-22
63 in m
AT AMERICA'S COTTON
*1932
Div.
LAST SALE
H108
Low PER SI
July 26. July 27.
PLANS
1011
3.0
Air Reduction
131
421.
6.00 Allied Chemical & Dye ..............
1174 117
951
· 201
4.00 American Can
品
5
American Smelting..
36
35
1378 93
70%
9.00 American Tel & Tel
1244
125
44
5.00 American Tobacco "B
65
111.00American WaterWork.....
sit.
3.
1512
-284
Anaconda Copper Mining 2.00 Auburn
201
18
178
044
58
20
41
Bendix Aviation
16
16
18
1.00 Borden Company
334 331
20%
17
16)
47%
2.00 Chase National Bank
37#
1.00-Chitler Motors
in
29) bid 201 bid. 33
NEW YORK, July, 27. THE Government's announcement of plans to purchase cotton future has surprised most tradere." The opinion is expressed that the purchases are probably connected with the liquidation of production loans and preparations by the Ad ministration to complete the ac
$4.15 They declared to-day that the BAB SILVER, per o 113.80 President does not consider the de 89.10 cline of prices resulting from speculation a decline in Business. They said the steel mills are still be ratified by all the powers before spot cotton of futures to fulfil the nine-power silver agreement must quisition of a sufficient supply of running well above fifty per cent it becomes binding and, in any option contracts in compensation of capacity, car-loadings are im- event, would not be operative until for the abandonment of acreage by proving and there is nothing to next year. indicate a left down in business.
Federal Government That the Senator Thomas joined with would begin impounding American others in predicting that the Ad- surplus stocks before other nations ministration would continue efforts began
course,Senator to rehabilitate silver regardless of Thomas was inclined to doubt at the outcome of the World Econo, though he is a confirmed silver ad mic Conference.". The so-called vocate-nited Prem
#1
$165
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 Daily Press
Canton Agenis
John H. Ferguson & Co.
32, B. C. Shameen.
Tel. 18624.
sucha
PACIFIC ORIENTAL
MONTHLY CARGO AND PASSENGER SERVICE
M.S. JUTLANDIA" Sailing on or about FOR SAN FRANCISCO, ETC. 31st JULY
CARGO AND PASSENGERS ACCEPTED FOR SHANGHAI, SAN FRANCISCO, VANCOUVER, SEATTLE, LOS ANGELES, ETC. THROUGH BILLS OF LADING ISSUED TO OVERLAND POINTS.
Excellent Passenger Accommodation
Passenger fare Hongkong/San Francisco G8120 (1st class only)
For Freight and Passago, etc. please Apply to s
The East Aslatie Co., Ltd. The Chinese American-Shipping
JOHNMANNERS & CO. LTD.
Company
Agente HONG SLING
*: Ofied': MancaNTILE BANK BUILDING (TOP FLOOR), 7, Queen's Ro, Cante
TREEPHONE 9401
the farmers
It is understood that about 2,300,000 bales will be necessary to cover these options, while it is re- ported that cotton secured by the agricultural adjustment admin. stration from old krop holdings, through negotiations by the farm credit, administration, totals about 1,600,000 bales
It had been expected that the remainder required namely, about 700,000 bales would be acquired from the owners of Seed Loah cot tom and there is much uncertainty in trade circles as to just how the operations may be handled-Reuters
LONDON EXCHANGE
RATES
(BRITISH WIRELESS BERVICE !
"July 26.
Pari
New
e6 11/38 4.61
Montr
Brus
Genev
8.27
Milan Bezlin Copenhag Oslo
783 11
12371
22.40
19:30
409
-831
871
30
401
33
24
*** * * * 6 67 68 68 9283857-786182586 05E879 28*9ISTED
Canadian Pacific
JI Case
0.50 Caterpillar Co.
240 Consolidated Gas of N.Y
Curtiss Wright....!
| 1.00* Drugs, Ing.
2.00 Da Pont de Nemours 13:00 Baoan Kodik
16%
Electria AutoLite Co
6% Electric Bond & Bhate.....
Electric Power and Ligh 0.40 Genera) Electric 1.60 General Foods $1.00 General Motoris *1.00 Gillette Safety 2.
1:20 Gold Dust 0.00 Internatić
Internal
Montgomery Ward 2.80 National Biscuit 1:00 National City Bank 1.20 National Dairy Products 0.00 Otia Elevator Pi 2.00 Proific Gas & Electrio
Packard Motors
0.50 Pennsylvania Railway Radio Corpn... Sears Roebuck
(house
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