1935-02-02 — Page 11

DIFFICULT YEAR IN

STOCKS & SHARES

Slump Relieved Slightly As Year Ends

Contrary to expectations, prices further dropped during the year 1934 in the share market in Hong Kong. There was a complete stagnation of business during the summer months, and although efforts were made to stimulate' acífvilles, ́there was an absence of confidence which militated against a revival.

Towards the close of the year, however, several factors contributed to a slight revival in rates and quotations took an upward turn in many cases.

: It was reported in the review for 1933 that there were hopes that the bottom of the depreciation had been reached, but unfortunately during the past year a further large amount of investors' capital vanished in further depreciations.

Why Prices Dropped In 1934

In tracing the causes for the drop in fates during the past year, one must bear in mind that in other directions the general trade depression, instead of Efting, was intensified.

New Stock Exchange

An event which makes history in the Colony was celebrated in April,

when the

Stock Exchange

HONG KONG DAILY PRESS, SATURDAY, FEBRUARY 2, 1935.

THE HOUSE OF HAIG

MOTOR TRADE

Increase Of British Makes In Colony

:

Three hundred and tan years Christian Eson, Witneses. Ro- âgo, in a crudely improvized still bert Haig denied he knew any such hidden away among the heather, thing as was laid to his chairge," the first. Haig Whisky was pro- The witnesses deponed unanimous- duced. That was the genesis or ly that they saw the caldron an the House of Haig. It was A the fire and a stand reiking and "The, effect of preferential duty modest enough enterprise. Never that they heard he goodwife say against importation into Hongtheless, it laid, the foundations of the lasse has put on the caldron Kong of foreign motor cars is re- an industry whose ramifications and played some afterwort and flect in the Police Traffic Depart-

haye spread to every corner of the she knew not gr. her caldron was ment's list of registered motor civilised world. The sponsor of before on the tyre on a Sabbath vehicles for last year.

the enterprise, Robert Halg, a day and bad she been at hom it member of an old and distinguish should not have been done (for ed Border family, was haled be-she was byt patlle cam'd from fore the local church authorities Alloway Church), So it being only and rebuked for Sabbath-breaking some pynts of small drink played But, being a Halg, and possessed by a servant lasse nalther maister of that tenacity which is generally nor mistresse accessoria to it, upon supposed to be the peculiar at- engagment of Christian carriage tribute of men of northern birth, for the future rebuked before the he persisted in the laudable end-Session.” eavour to supply his friends and and customers wanted and if the customers with what his friends truth were known, it was doubtless this tenacity and persistency that ultimately won official recognition for the distilling industry, which in the course of time was to provide the Exchequer of the Country with untold millions in revenue.

There were 1,240 British, cars. and taxis registered last year an against 776 in 1932 and the Agures for American manufactures were respectively 1,318 und 1,530, «

In all 3,999 motor vehicles were registered in Hong Kong during the year, this Agure constituing a record. It consists of 2,988 - motor, cars and 1,011 commercial vehicles. The number of varicles registered

in 1833 were 3,800.

1932 1933 1934

4. 5

The greatest Increase in Bri- tish cars registered are in Austin and Morris. The Ford (British), Hillman and Vauxhall are other makes which have shown In- creases." new Building in Ice House Street was inaugurated. As is well-known,

The following tables will show A number of Chinese banks clos- the rooms in this building, the the number of cars in each make ed during the year, which had the Colony's Arst

registered during the year: skyscraper-not- effect of causing a good number ; withstanding the depression-are

BRITISH CARS of shares, some of them holdings all taken up. The magnificent in sound local establishments, be-building situated in the heart ing thrown in the market. The of the city lends dignity to chaotic conditions of the Shang- the Stock Exchange and is a credit to the Colony, Unfor- had money market was also sponsible for the dumping of some tunately few brokers can

report Hong Kong stocks here. Rates he- cordingly came down as buyers

business as was done during the were not anxious, under the con- ditions then prevailing, to put bigger part of the year, was mostly, further capital into the Colony's†on behalf of clients who were sell- shares. Coupled with the failure ing in order to arrest the con- of these banks was the fact that tinued dwindling of their capital many, who had hitherto been able.

New Banks to invest in the local market, were no longer able to do so for various reasons,

4.42

.

Speculation In Commodities

re-

was

a good year, and it is all they can hope to make ends meet. Buch

The coming into Hong Kong of

Clynio Crossley Daimler

Ford (British)" HL man Humber Jowett Lagonda

=

A-C.

3

Armstrong "SH-

deley

34

32

30

Austin Bean Bentley

317

398 .440

垒

2

1

1

11

6

8

8.

4

1

1

1

2

22

47

41

+79

122

サ

." 27

30

11.

10

11

':

2

2

2

1

I

2

1

2

2

9

13

228 284

337

2

4

1

1

2

6

6

4

15 22

21

17

31 35

2

1

3

4

2

1

2

2

·B

5

B

14-14

5

9 33

63

18 34

32

10 0

4

the branches of several foreign | Lanchester style Chinese banks from Shang Lea-Francis hal must be considered an import-M. G.

The fact that facilities for ant cause for the revival of busi- Morris speculation in commodities were ress and the gradual frming up

Riley made availabel to the Hong Kong of rates. This sign of confidence Rolls-Royce public further affected the situa-n the Colony is very flattering Rover tion. Another Very important

and reassuring and, has not been Singer factor was that the "bears" in the left unnoticed by the public. The

Standard market held sway for a long time very low prices prevailing in a

Star and as a consequence" there little confidence shown in local number of Hong Kong stocks has Sunbeam

a1 last attracted attention and Talbot shares which continually showed

quite a number of the stocks list- Triumph signs of weakening.

One result of the 1934 depression corner, though whether it will be Vauxhall

ed in Hong Kong have turned the Trojan is that speculation, as it was known subjected to another depression Wolseley in Hong Kong a few years ago, or further "hammering" by the Other makes. has now been cut to a minimum. bears during the coming summer, and while it would be incorrect is difficult to say, but the prevall- to assert that speculation is un-ing opinion is that the bottom has known here, it is undoubtedly a at last been touched and a better fact that the number of specula market may be looked forward to. tors now in Hong Kong is infinite- simal

...

י

蠱

Total British... 776 1047 1240

U.S.A. CARS

The following may be some of the contributory factors to the Auburn. (Cord) Confidence In Hong Kong amelioration of the market:

Austin (Ameri- One gratifying feature of the

Shanghai's unsatisfactory Cur- can)....... year's business is that there is rency and the uncertainty of its Buick and Mar- plenty of confidence at Home in future has caused money, from the quette Hong Kong stocks. Both Banks North to be diverted to the Colony. Cadillac. and Unions did not suffer any big re-action in the rise of the ex- will show better results than the Chrysler

Beveral Hong Kong Companies Chevrolet change recorded during the year.previous year.

De Soto This is acconuted for by the fact that there have been many in- Trade figures for the last month.

Flymouth of the year show improvement for

Dodge quiries for these shares in London,

investors, where

old the first time since the previous specially China hands, and that the divi- year. dends paid on these stocks are higher than the returns obtainable on investments at home.

Some Big Drops

++

Essex nah More branches of foreign banks Port opening up here.

Gardner Possibility of the establishraent Graham-Paige of a Chinese Customs clearing Hudson house in the Colony during the Hupmobile

year,

11

1932 1933 1934 14 18 23

125

For centuries before the incident recorded the Haig family was a power in the land. Their connec- tion with Scotland dates back to the day of Malcolm Canmore, who ruled in the eleventh century. And throughout the ages the name of Haig has figured conspicuously in peace and waI, 12

and for many years

Whisky distilling at this period afterwards

who were enterprising enough to was a percarious business. Those

set up stills had to contend with smugglers, who numerous in the Highlands. There were specially is little doubt, however, that these activities fostered the taste for whisky and kept alive the true process of distilling...

On 4th April 1894. John Haig and Co., Ltd., was registered at Edin-- burgh as a Limited Company. The first

Veitch Haig of Ramornie, Lady-- Directers included: - Hugh bank; Charles Taylor, Markinch, who wis the first Secretary of John Haig and Co., Ltd., and later ap pointed Manager; and Captain Douglas Haig (afterwards Earl Haig of Bemersyde), who was then serving in the 7th Hussars at

Robert Halg, the first distiller of Scotch whisky, fought gallantly at Ancrum Moor. The Haigs were in two of the Crusades, and for this service were granted the right to | Mhow, India, use the Cross of St. Andrew on their Coat of Arms. And 60. through the centuries, and in the building of the British Empire, the Haigs have fought with brain and brawn for their King and Country. their record culminating when the late Earl Halg of Bemersyde rose to supreme command of the mighty and victorious armies of Britain in

the Great World War. Thus are history and romance interwoven with industry and commerce in the story of the House of Haig.

Robert Haig, with whose exploit this record opened, spent his early years in Holland, where he learned the art of distilling. He left. Bem ersyde in 1623 and settled in Thorsk, Stirlinghsire, and there set up the rat. Haig Whisky still. It was for operating the quilt on a Sunday that he was summoned to appear before the Church author- ities, and from the records of the Auld Kirk we cull the follow

St. Ninians Parish Church,

Stirlingshire.

Session Record, Vol. I. November 22nd, 1653-February 5th 1667.

Halg whisky had now became very well known both at home and abroad, and on 11th October 1908 the Company received a letter of appointment as purveyors of Scot- ch Whisky to the House of Lords. On 18th February 1911 they were privileged to receive the Royal Warrant of Appointment to King George V.

A few months later the Company had the honour to receive the Royal Warrant of Appointment from Hla Majesty the King of Spain.

As will be seen from, the fore going, the firm of John Halg and Company commanda unrivalled ex- perience in the distilling and blending of Scotch Whisky -- an experience that is reflected in the high quality and consequent great. Popularity of Haig Whisky-to-day That "No fner whisky goes into any bottle" is the modestly stated claim of the Company.

The popularity"

of-Haig Whisky is world wide. It is served every- where- an eminently suitable beverage for all climates.

The efforts of the firm are con-

centrated on placing two brands

"January 4, 1605-Compeared | bafore the -public-Haig, “Gold. Robert Halg being and for Bab-Label" and Haig "Dimple"-each

137 136 bath breaking and Wm. Reid, pre-eminent in quality, Havour,

John Grods, Willam Harley and and mellowness'in its grade.

3སྨཱཎྜཾཨྠཚགའ

ཡཧྰུཾ་

**EBREZ.

988-98

Amilcar Bugatti

Citroen

Delahaye 7-Hotchkiss

Mathis Peugeot

JOHN HATO & Că

The Whisky of Quality

from the oldest distillers in the world

Haig

425

THE FATHER OF ALL SCOTCH WHISKIE

Sole Agents:-

Gande, Price & Co.,

LIMITED.

TEL. No. 20135,

HONG KONG

MARTELL'S

V.S.O.P.

BRANDIES

$9. 65 57

15: 19 CORDON-ARGENT-

& ·5%

5

185

153

2

2

2

140

80 139

34

31

44

35

31

FRENCH CARS

BRITISH VEHICLES

Durrant, Rugby

and Star

1932 1933 1934

1932 1933 1934

25

1 1

A. E. C.

1. 1

55

1

Albion

33 35 41

CORDON BLEU.

257 220

to:

10.

0

Austin

1

4

2

1

1

Bedford

8

24 43

-14- 8

Commer

·-14-------14

17

13.

2

2

Dedals

22

27

5

4.

··17-

2

1

3

Renault

2

1

Karrier

:3

3.

1

2 Nolain

1

Leyland

22

22 21.

11

B

9.

Ither makes

Manchester

I

5

5

5

Morris Commer-

Nash and Ajax 52 Oakland Pontiac

48

47

Total French... 23 .26

18

cial

30 46

47

8. -8- 17

T

Singer

I

1

THREE STAR

24 22

GERMAN CARS

Thornycroft

74

75

83

35

13

1932 1933 1934

Trojan

7 .B.

6

10 11

10

B. M. W. Did

1

Vulcan

34 33 36.

:.1

1

Hanomag.

1-

Other makes

15 11. 25

2

2

2 Opel

28 19:

26

5.

:6

Other makes

1

Total British

315

343 402

0

0

174. 147

177

Total German 22 31.

29

U.S.A. VEHICLES

1

ITALIAN CARS

1932 1933 1934 122130 125 |

Chevrolet

121

#

Whippet

117: 112 Other makes

3

16 124 27 1:40 8.20 5.10.J

Total UB.A

O. M

1530 1458-1318.

Diamond Dodge and Gra-

hara

Chrysler

and

70

CANADIAN CARS

12 911.

1933 1934

9

17

Steyr

Total Itallar.

133 128 AUSTRALIAN CARS

*1933 1934

1

128

Federal

Ford

·G. M. C. International Reo

246

230

18 63

1 4

BELGIAN CARS

12

20

1933 1934

2.

Minerva

Republic Rugby Stewart Studebaker

The year has not been without ite spectacular features and the

La Salle drop in Land Investment. shares Approaching completion of Can- | Lincoln from $72.50 to the regions of $50 | bon-Hankow Railway, with the Marmon Wag AN outstanding instance resultant increase in transit and Rossevelt Holders of this stock, have con- general trade of the port. .sequently lost heavily. Another stock which has resulted in heavy losg to share-holders due to de- preciation in prices is Green Island Cements. As was revealed in the recent meeting of the Company. Japanese dumping has been. al- most the sole cause of the loss of many millions of shareholders' money.

♫

a

certain

The following figures show the falling off in the market value of shares on the last day of the years 1933 and 1934.

Hong Kong Bank Canton Insurance Union Insurance Underwriters

Oldsmobile s 15 Packard VAULE Peerless 1933 1984 Pierce Arrow 1835 1645 Reo

310

Rockne

270

590 515 Studebaker 1.65 126 Stutz and Black

$20

China Fire Insurance 529 HK. Fire Insurance Douglases

HK. Steamboats Wharves

Docks

Humphreys Realties Trams

-In former years, amount of money used to be in- vested in Hong Kong by clients overseas, but instead of this being the case in 1934, it has to be re- corded that stocks outside of Hong Kong began to gain in po-" "Providents (old) pularity here in the eyes of in- Hotels vestors The "attention of those Lands who like a quick gamble, is even now diverted to Manila, where the gold mines are attracting atten- tion. More business has been done in Manila gold shares in the past year than ever before. The strict supervision of the Philippine Gov- ernment in connection with the floating of "mining companies has earned the confidence of the Hong Kong public and thus a steady channel through which money flows out of the Colony has been established

These gold shares have risen and fallen during the year and towards the end of the period under re- view, prices bave firmed up and the tendency is upwards for the bert stocks

Peak Tramways (old) Peak Tramways (new) Star Ferries

Yaumati Ferries China Lights (old) China Lights (new) Electrics Telephones (old) Telephones (new) Cementa (old), Ropes Dairy Farms Watsons Wing On Amusemen

Construc

HAWLA

280 235 Willys-Overland.." 341 40 Knight...

65 120 95

651 66 30 14 Isotta Franchin! 44 Flet

80

41 38 20

54 5:30 Buck and Marquette.... 211 20.20 Chevrolet

151

12

74

Chrysler Plymouth

100

98 Dodge

03154

241 22 Durrant, Rugby and

9.70 101 Furd

ཙྪཱམཎྜོ ། གཙ། སྒྲོཊྛ

Lancia

1932 1933 1934 118 103 80

(also in square pints

and flasks).

V.V.E.S.O.P.

197

34

BOTTLED IN

COGNAC AND

GUARANTEED

PURE GRAPE

BRANDY

MARTELL & CO.

Commercial Vehicles

Registrations of Commercial vehicles during 1982 and 1983 were as follows:

CANADIAN VEHICLES

White

w111ys and

Whippet

Other makes 10

Total: UBA, 520 509 482 FRENCH VEHICLES

SOLE AGENTS

Gande, Price &Co., Ltd.

WINE & SPIRIT MERCHANTS.

St. George's Building, Ice House Street

DIAL 20135.

HONG KONG.

73 72 244 25.35

Rockne

Studebaker and.

13 10.85

Erakine

8

1922 - 1915 - 1983.

34 2.85

Willya Overland

3

·BI 4.10

Chevrolet

Whippet

Ford

4480

23 24

Willy i rand

-1933 1934

Total Canadian

252

140105

Whipper

Citroen

ITALIAN VEHICLES

Total Canadian

(new)

19331974