1938
£189
£38
STOCKS
was
£134
138
$2
1924
$5071
8125
The London/New York cress- rate was quoted at 485.75. York/London Was
Adams Express .......
New
Alleghany Steel Co. 18
Allis Chalmers ...................... 481
quoted
et
::!
$500
Amer. Can
12
12
Shipping
182
Douglases...
Indo-Chinas (Prof.)....
$24
Indo-Chinus (De2.}.....
32
485.13/16.
"Amer) & For, Power
$10
MARKET
Amer, & For."$7 pl. 181
Extremely quiet,
$75
STERLING
813
Amer. Locomotive .......... 191 Amer. Metals .... ..... 311
#80
19.10
$10
33
***
$7.06 138
80/44 Shall
Waterboats .............
15/9 | Kailana pumala
Raubs
Venezuela Goid Fidą.
7 cts. Hong Kong Minos......
Docks, WharreOS,
Godowns, als
H.K. & K. Wharves...
$1.80 Providanta (old).......
$7.45 Providents (new)....... $0 HK. & W. Docka....
Do.
$10.70
3131 Shanghai Dockor B. ..........
$3.00 New Engineerings 8.
Lands, Hotels, and
****** Balking?
H.B. Hotel
H.K: Landa.........8.
$107 Do. 4% Debentures
$8.40 Shanghai Landa 8.
89/4 $9.18
Mining
There were sellers at 1/3 Sep-| Amer. Radiator .......
31/32 and 1/2 teniber/October
Amer. Rolling Mill 18 November/January, buyers at 1/3 Amer. Smelting..... 463 1/32 Cash/October and 1/3 De Amer, Sugar Ring... 231* cember/January.
PAGE 12-HONG KONG DAILY PRESS
DAILY SHARE QUOTATIONS Hong Kong Stock
Exchange
Sharebrokers' Association
Buy Belirċ
{Sianginal:
THURSDAY. SEPT. 1.
«Bayern){ Sellers
souza)
$1,440
$1.440
£37
Kankı
H.K. Banksia.
Do. (London)............
£18) Chartered Banks ag £38 Marcantile Bis, **** £13 Mercantile BEL "C"
Bank of East Asia...
N. C. 4.B. Banks....
Insurances
Canton LIPSOCHE........
Union InsuranČSO
Underwritera ....
H.E. Firma ................
-
$1,449
לוג
THE EXCHANGE
MARKET.
MESSRS. ROZA BROS.
Silver prices.dropped 1/8 yes- the deliveries, terday for both quotations being 19 1/4 for Reddy Silver ad- and 19 for Forward. vices reported small purchases made by American trade. Specu- lators, resold. Later America again bought. The market was steady! but dull American Slyer quoted at 42 3/4 for Spct.
FINANCE
NEW YORK STOCK EXCHANGE
(Through Kanter's Service)
QUOTATIONS
FRIDAY, SEPTEMBER 2, 1938.
นา
PAYNE & CO.
COMMODITY BROKERS
STOCK EXCHANGE
BUILDING
HONG KONG
COMMODITY MARKET REVIEW
(FROM PAYNE & "CO.)
SINGAPORE RUBBER
August 30 buyers sellers
26-3/4
27"
27-1/4
27-1/2
....... 27-7/9
28-1/8
August 31 buyers sellers 37 27-1/4 27-1/2 27-3/4
Change
up 1/4
up.. 1/4
28-1/8 28-3/8"
up 1/4
Sept. 1, 1938.
11 Commodity Index 48.10
High Low Dow Jones Averages, Aug. 30. High Low Close 145.67 98.80 30 Industrials
$2.77 18.90 20 Baile 29.55 16.14 90 Utilities. 99.70 81.39 40 Borda 39.00 45,09
Ubang
138.36
139.60 189 30 139.37 7.89"
27.78 27.39 27.41 19,31 19.4 19.12 1.28 38.86
101 ap
88.47
09 off
48.08
JOI off
Business Done;---460,000 shares,
Last Sale Aug. 30. 31. 10 11
STOCKS
Last Bale
Aug. 30. 31.
Great Western Sugar 27
202.
18"
Greyhound
Corpn.161
181
48
Hecker Products.... 7
71
06
98
Int. Nickel .......... 4815
48)
31
33
Int. Tel & Tel
81
31
171
Kennecott Copper ... 391
391
19
Libbey-Owens- Ford
951
Glass .....
5012
501
SPOT.
151
15}
Lockheed Aircraft ...
133
13)
OCT,-DEC.
181
Loew's "Inc.
487
501
JAN.-MARCH
49
Martin, Glen L
23}
221
231
McKesson & Rob-
+
!
16/6
$10 13
$130
9201
U.S. DOLLARS There were sellers at 30 3/8 Sep- tember/October and 30 5/16 No- vember/January, buyers at 30 7/1 Cash/October and 30 3/8 Decem- ber/January.
SHANGHAI DOLLARS . Sellers at 176...
Amer. Tel. & Tel... 1423 Amer. Tobacco "B" 861 Amer. Waterworks... anaconda Copper Archison, T. & 8. Fe. 364 Auburn Motors
143
bins, 33 pi.......
35.
334-**
851
Monsanto Chemical 94
94 A
9%
91
Montgomery Ward..... 16
433
332
331
Nat. Dairy Products 13)
131
36
Nat, Distillers
MANKINS
24
241
3}"
Nat. Power & Light OR
67
Baltimore & Ohio
77
71
Nat. Supply Corp.
17
-171
Barber & Co.
191
19
New York Central...
184
181
·Barnsdali Oil
171
N. America Aviation
91
9
$19.70
$130
$3.95
SHANGHAI MARKET Sterling, sellers at 81/2 for Spot and U.S.$. sellers at 17.3/16 for Spot.
Bethlehem Steel .....
574
562
North America Co. 191
197
Boeing Airplane Co. 251 Borg-Warner
231
Northern Pacific
++
117 12A
33
33
Pacific Gas & Elec
26.26
37/7.08
$33
$107)
85.00
$5.90
***
H.K. Realtion
$93
$9.60
Humphreys
ox.div.
109
Chinese Existen .........
119.80
Cotton Mills
won (8.) *********
$20,20
398
..194
B'bai Cottons (8.)...
$24
Zoong Sings (8.) ..................
$42
Wing On Textiles (8.)
9241 $42
Pabile Utilities
Tramwaje
$17.20
Peak Trame (old).
set
·83)
Peak Trams {DEW}..................
£3*
$73
Ferries....
$77
mati Forries C.R$
$24)
820
Do.
{DOW)
$24
176 1/3.
IN THE AFTERNOON The market continued quiet in the afternoon."
STERLING
The market closed with sellers and at 1/3 September/October 1/2 31/32 November/January. Buyers at 1/3 1/32 Cash/October and 1/3 December/January. :"
U.S. DOLLARS The market closed with sellers at 30 3/8 September/October and 30 5/10 November/December. buyers at 30 7/16 Cash/October and 30 3/8 December
SHANGHAI DOLLARS
Chesapeake & Ohio, 301 Chrysler Corpo..... Columbia Gái Đã Y Columbia 6% “A” pf. 63 * Commercial Credit.. 48) Commonwealth & 8. Commonwealth & 8.
6%' cum pí. Consolidated. Edison 261 Consolidated C Continental Can Continental On
Briggs Mfacturing.. 35 Brooklyn-Manhattan •
347
Pacinc Lighting
37 363
Packard Motors ..........
5
41
Trans... Brooklyn-Manhattan
91
91
Paramount Pictures 101
11
Pennsylvania R.E. 191
19
$6 cum..pf.
281
"281
Phillips Petroleum
39
394
Canadian Faciac
63
61
Public Service of NJ.
29
Case. JI
881
381
Pure Oll
101
104
291
Radio Corpn. of Am.
7
77
The market opened 3/8 of a cent higher for all deliveries as compared with Tuesday's closing rates.
Throughout the session the merket ruled stendy due to the bet- ter sentiment displayed on the American Security and Commodity Exchanges coupled with reports of a considerable relaxation of the European political tension. Apart from fair enquiry for "actuals," substantial buying for trade and speculative accounts was in evi- cence. This fact is in contrast to the situation prevalent during the last few days, when buying was mainly for consumers who, in the ab- sence of outside operators being too nervous of the International political situation to enter the market on the longside, acquired fair quantities at advantageous prices.
Subsequently prices registered an advance of 1/8 cent for all de- liveries, but this alight gain was lost again towards the close of the session market closing with a very quiet" undertone.
,,Malayan statistics at the end of July showed an increase in Estate-stocks of over 3,000 tons, which is, however, explained by the new regulation regarding the carrying of them. With regard to the 28it possibility of a change in quota for the last quarter of this year, it is too early yet to form a definite opinion. but it is safe to assume that nothing will be done to bring the market on a lower level..
723-
721
Republic Steel.
173
18
64
Bi
Reynold Tobac. "B" 41
417
.831
Schenley......
17)
174
491
Schenley, 61% pfd... 74
74
11
11
Sears Roebuck ........
ΤΟΥ
701
Shell Union' Oil....
15
15%
SPOT
36.
37
Socony-Vacuum Cl
133
133
OCT.-DEC.
.. 261
Southern Pacific
181
173
JAN.-MARCH
!!
8
LONDON RUBBER “
Previous close Today's close
sellers buyers sellers, buyers,
7-7/8
8
8-1/16
B
8-1/18 8-1/16 8-1/8 8-1/16 8-1/8 8-1/8 -8-3/10
Change
up 1/3 up 1/18 up 1/18
9
01
Southern Rly $5 pid.
183
13
404
401"
Standard Brands ....
71
291 201
Stand Gas & Elec.
32
31
$11.85 China Lights (old)...............
8111
China Lights (new)..........
·561"
H.K. Electrics......
18601
317
Macao Electrica
10.35
Sandakan Lights
SHANGHAI MARKET Sterling closed with sellers at 8.1/2 for Spot. U.S.$, closed with sellers at 17.3/16 for Spot.
Corn. Products
691
691
Standard Oll of NJ. 521
521
Curtiss Wright (C)
5
51
Stone & Webster ....
10
91.
Curtiss Wright "A" 221
211
Distillers Corpn. Sea-
Swift International 271 Technicolor
27 *
213
221
$20
Talephones (old).
$2.55 Telepines (Dew)......
$261 89.65
grams
161
161
Texas Gulf Sulphur 353
35
2/3 Tractions .........................
24/8
20/2
Tractions (prof.)
Industrials
$14
Caid., Macg (Ord) S.
$13 Cald, Macg. (Prof.) 8.
$7.70 Canton Ice
$1.50
$17.80 Cemputs :.....
$4.90 Ropes*********
Consolidated
8171
64.90
***
China Prov, (old)........
27.60
China Prov. (DRW).......
87.40
H.K. STOCK
EXCHANGE
YESTERDAY'S"
OFFICIAL QUOTATIONS
Douglas Aircraft
401
451
20th Ceat. Fox. Filma 251
Du Pont
131
1301
do.
Flims pl......
33 *
261 33*
Eagle Picher Lead 101
101
Union Carbide &
Elec. Bond & Share 7 Elec. Bond & Share
71
Carton
801
811
Union Pacific
881
*9
47.
'47 *
$5 pf. Elec. Rond & Share
United Aircraft
262
263
United Airlines Trans
·B1
B
$0 pt.
531*
54
United Corpn.
25"
2)
Elec. Power & Light
$7 pt.
United Corpn.
$3
·35*
351*
cum. pi...........
31
31
Miscellaneous
*26)
Dairy Farma
$201
Ch. E'tainmenta...... $84
$1.90 Constructions (old).....
$1.90
A fair turnover was recorded at improved rates with market clos- ing steady" and sellers holding off
Flintkote
223
221.
United Gas Corpn.
37
34
Gen. America Trans 477
49
Un. Gas 'provem't
10
10
Gen. Electric
414
411
U.S. Rubber
441
411
Gen. Motors
47
471
U.S. Rubber pi......
86
841
Constructione (Dew)........)
$8.70 Lane Crawfords......
Nanyang Tobacco ...
$9.90 Sincares
$8.16 Watsons
82.10 18.15
69% Ch.G.5% 1925.
BUYERS Hong Kong Bank, $1440. Canton Insurance. $224. Union Insurance, $510. H. K. Fire Ins., $2071.
Gen. Railway Signal
201
201
US. Steel...
581
581
Prices again hardened under the influence of American buying.
NEW YORK COTTON
Trading was very inactive.. aside from early foreign selling and trade prices-fixing. Later. prices declined on crop estimates and mo derate hedging as well as local selling. The market lacked incentive, with traders awaiting foreign political developments. Finally, the market closed barely steady.
NEW YORK RUBBER
A narrow and featureless market. There were some offerings by dealers, but these were absorbed without dificulty. Towards the close there was some scattered realising. there
N
CHICAGO WHEAT
The market sagged on increasing competition, among exporting countries. The easiness of Winnipeg and Liverpool cables and the improved European outlook held back the advance. Finally, prices recovered on expectations of smaller Spring wheat estimates and the removal of hedges against sales of cash wheat to the Govenment.
Glidden Co.
221
22
Vanadium
181
181
Goodrich (B,F:)
233
23
Warner Bros. Pict....
B1
61
Goodrich $5 pt.
55
55
Westinghouse Elec. 1004
1012
69%
it
Goodyear Tire & Co.
271
271
Woodward Iron Cor. 181.
181
H.K. Gori 4% Lowas $108
H.K. Govt. 31% Loans
$1011
360
H.K. Wing On..................
$50
Union Waterboats, $9.10. H. K. & K. Wharves, $129. Providents (Old). $7.45.
Great Northern Iron
Ore
121
12)
B'hai Wing On .......
Great Northern Rs. 21
201
Chase National Bk. 301* National City Bank 241 Call Money
301*
240*
1% 1%
New York Commodity
Market
$6,25 Vibeo Piting ............
+
$8,10
: ex. dlv.
• bid.
12/8 | Maram, na Juv. (Lon.)
3/4 - Mazamana Inr. (H,K.)
73 on W Powilla ..........................
65 cta
*Bales to Shanghai
Parts
Geneva
Berlin
LONDON EXCHANGE RATES
Athens
Milan
Copenhagen
Stockholm shanghai
New York
Amsterdam
Vienna....
Prague
21.32
H. & S. Hotels, $7.10. H K Lands, $38. Humphreys, $9.60,1
H. K. Realties, 55.85.
H. K. Tramways, $17.30.
Peak Trams (Old), $62.
H. K. Electrics, 361. Sandakan Lights, $9.35. Watsons, $8.10,
EL K Govt. 4 per cent Loan, §
per cent pm.
H. K. Govt. 34 per cent Loan-is:
per cent pm.
SELLERS
H. K. Fire Ins; $210,
H. K. & K. Wharves $131. Providents (Old), $7.60.
SALES Canton Insurance, $224.
H. K. Tramways, $17.30,
H. K. Electrics, $81.
(British Wireless Service)"
Aug. 30.
Aug 31
178-5/16
178-19/64
12.19
21.291 12.12
J
92-5/16
924
18.73 &ld
4.87-15/10 8.927
4.854 8.92-1/10
H. & S. Hotels, $7.15/7.10. H. K. Lands, $38.
1403
1401
2261
870
Hong Kong
1/2 31/32
Antamoks Ps., 37
Bombay
1.5-27/32d
Atoks, .35
Montreal
4.881
4.881
Bagulo Gold, .24
29.762
28.783
Coco Grove... .44
214
Demonstrations, .304"
* 18.05
18.904
IXL, 67
301
2-27/32
191
19
199
191
31 102-3/16
31% 1021
Helsingfors
Bucharest
Prussels
Yokohama
Bélgrade... ..
Buenos Aires
Monte Video
Ro..
Silver (Forward)
Suver (Bpot)
War Loan
Closing Quotations
optember 1, 1939.
ON LONDON:
1/2*
Telegraphic Transfer.
Bank Bills, ou demand f
Credits, 4 monthe sight. 1/3)
ON SHANGHAI:
On demand
UN SINGAPORN1—
On demand
On demand
ON NEW YORK: —
Bank Bills, on demand : 30-1/18 Credits, 60 days' right „30-9/19 CIN BATAVIA...
On demand
$51 UN PARIS-
Bank Bills, on demand 1,095 、Credits, 4 months' night -1,180
170 aom
ON SALORY:
On demand
100.
On Manila:
On demand mudai 601
On demand
149)
Bank Buying Rate..... "== Ritvar, DAS DE
7/8-1/16 10)
Telegraphic Transter... 83
ON BANGIOR
Soxe.caign, Motegi
Watsons, $8/8.15,
Harris And Vose Cotton Report
THROUGH PAYNE & CO.
(By Courtesy of Messrs. Swan, Culbertson & Fritz. and 5. E. Lory & Company)
New York. August 31.
は
New York Cotton New York Rubber Chicago Wheat Chicago Corn
After the Government crop In the first place, under the 9- estimate issued today, a manda-cent loan no" premium was allowed tory Government loan on cotton tor grades above Middling or Winnipeg Wheat is no longer only a theoretical staples better than 7/8. Thus possibility. It is a very strong farmers could sell the higher probability: some think a certainty. | grades in the market for more The estimate of 11,988,000 bales, than they could get from the loan NEW YORK COTTON was fully half a million above the This year the Farm Act requires October ...
that the loan provide differentials December average private guess, and it has given a push to a sagging market. for higner and lower grades and January According to the latest calcula-staples. The Secretary of Agricul- March tion of the Department of Agriculture is empowered to fix these dif- May ture, the "parity price" for cotton ferentials,, and it can be expected July
on July 15 was 15.9 cents. This that he will allow reasonable pre- Spot...
(Prices below In Phil. Currency) price is calculated once a month, [miums for cotton above Middling
Benguet Consol.. 11.40-
San Mauricio. .60 Buyoc Consol., 18 United Paracales, 344
H.K. SHAREBROKERS' ASSOCIATION BUYERS
Banks, $1440. Lands, 38. Trams. $171.
Peak Trams (Old), 83.
*RALES Wharves, $1294. Hotels, $7.15,
Ji
-
High Low
October 8.32 8:23 Sept. 10.35 16.28 Sept, 831 612 Sept. 531 · 521" October 62.
Prev. Today's
Close Close Change
·8,34 8.23 .11 off 16.25B 16.30b .05. up
627 83
52 63 7
up
קנר
827 821 + Oli
Close
8.34/34
Opening
8.31/32
Closing
Change
3:23/24
.11 off
:.. 8.41/41
8.38/31
3.30/30
..TI off
(1939)
8.40. N
8.37/37
8.29 Ń
.11 off
(
}
8.39/39
8.38/37
8.29/30
( >
8.37 N
8.35/35
8.28/28
(..)
8.35/35 8.46
8.32/31
8.25/26
8.35
16.25b/30316,31/31
16.44/45 18.50/44 16.54/54" 16.59/60°
May..
16.88/66
Sales for the day:-
and therefore may change slightly 7/8" which is put into the loan.
NEW YORK RUBBER hereafter. If the 10-market Likewise, in the lower categories of average price drops to less than 52 last year's loan the same value ap- September
of different December per cent of parity, even for a single plied to a number day, a loan must be offered of at qualities. This will not be true of March least 52 per cent of parity, ranging the mandatory loan. from that up to 75 per cent. 52 per cent of 15.9 is 8.27 cents and 75 per cent is 11.93. The probability of a loan in this range is the most im portant influence now in the cot-
on market.
MINIMUM LOAN VALUE
LOCATIONS EQUALISED ·
In the second place, the 1937 loan was at a fat price irrespective of | CHICAGO WHEAT the location of the cotton. Thus cotton near mill points command-
1,840 tons
.10. off .09 of
.10 of
.11.00
16.30b/38a. .05 up 16.50b/53a06 up 16.60/03 16.65b/702.
September ...
16.25b/302 824/621 842/641 661/67
... 83/63
··641/841
65/647 672/67
Tuesday's Sales:
28,580,000 bushels.
ed a better price than cotton in December... the Interior, and was sold on the May For purpose of discussion it will market instead of going into the be assumed that the loan will be loan. Under the mandatory load
the minimum permitted, or 8.24 for the Secretary is empowered to al- CHICAGO COEN
differentials from [Middling „7/8TM If the price goes low freight
any lower, therefore it will fall be-primary to central markets, which September December low the minimum kan value. Many would equalize locations, fear that it will do so, for they re- In the third place, the lean last May member that last year, when the year was tied in with the 3-cent
In WINNIPEG WHEAT 9-cent loan was effective, cotton price adjustment payment, sold below that price for a con- order to collect this, the farmer
October
NEW ENTERPRISES siderable period, and at one time was required to sell 65 per cent of December
May
521/524 524/521 53/521
502/501 512/51)
51/51
... 524/528
527/53
62+/621 611/607 614/011
621/624 617/62
·651/651
62/611
Lohdon, Sept. 1. as much as 1 cents below it. We' his base production. This require- New capital issues in August caution, however, against drawing ment resulted in heavy sales of cot- amounted to £2,184.057 against a parallel with last year's ex-ton which otherwise would have NEW YORK STRAITS TIN £15,188,116 in July and £7,141,184 pertence. The differences in the gone into the loan. Later on the
43.25 N 8 year ise. The total for the first loan set-up this year, as required regulation was amended but the September eight months of the year is by the Farm Act, are very im selling had already been done, NY Silver, Official .... 42-3/4
(Continued on Page 13)
NY-Ldon Cross Rate... 4.88 portant £91,423,097.--(British Wireless).
*651/651
42.90b/43.30a 43.25 N
42-3/4 4.85-13/16
.06 up
10. of
999
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