1939-07-11 — Page 12

TUESDAY, JULY 11, 1939.

PAYNE &

CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING

HONGKONG

FAGE IZ-HONGKONG DAILY PRESS

MONEY AND

GENERAL

EXCHANGE ELECTRIC CO. OF

CLOSING QUOTATIONS

JULY 10, 1939

On London:

Telegraphic Transfer. 1/2 53/39 Bant Bills, on demand!/s 13/32 Credits 4 months' sight 1/2 31/39 On Shanghai

On demand

$18

12 1/4

On Bingapore;--

On demand

On Japan:-

On demand

108

On India: 1 k

Telegraphic Transfer.

and demand ..............................)

Un New York:-

[82 1/8

Bank Bills, on demand 28 11/16 Credita, 80 days' sight 19 3/16

Un Batavia:

"On demand

On Parks:-

.... 63 7/8

Bank Hills, on demand 1083 Credits 4 months' sight 1125

Un Salgonama

On demand

109

On Manila:-

On demand

ST 5/8

On Bangkok:-

On demand

161 1/8

Sterling Notes:---

Bank Buying Rate

Bar Silver per 02.......

1/2 29/32

18 7/8

ENGLAND

Record Profit Announced

DEVALUATION

HAS FAILED

not

"Convinced as I am." he says, "that the old gold dollar should never have been devalued. `I am conclude enough of a realist to that its re-establishment is

of the now within the realms practical. But I want," he says "the power to devalue the gold dollar to expire. I urge the rein- troduction of the gold coin stand- ara and of the gold coin redemp- tion"

FINANCE

HONGKONG SHARE QUOTATIONS

8410

!!

$435

£95 Mercantile Bk. "A" £13 Mercantile Bk. "C" $30 Brak of East Asia .... N. C. & 8. Baskı..... Insurances

$930 Cantoo Insurados Union InforEDOM $1.38 Underwriters $185 H... Firma

STOCK EXCHANGE

SHAREBROKERS, ASSOCIATION

ኣነ

An important statement has just been made by Mr. Winthrop Chase Aldrich, president of the National Bank. He says the time has come to stop currency devalua- tion.

Bayer Bears,

Nomian MONDAY 10.1 Sales

JULY.

Buyers | Gallers. }. Baina Momiza

+3 и Banks

1330

H.K. Banks

#1830

£791 E7

Do. (Col. Bag.) Do. (Lon. Reg.) Chartered Banks

2801

£191

£7

$12

$80

50 ats

$290

814

$495

$185

Shipping

$37

Douging

$67

$15

Steambosta

$15

460

Indo-Chinsa

[Prof.)

830

830

Indo-Chinsa (Del.).

$20

Shelia

82/6

.$8

}

$108

BE T

$171

8. POT

OCT.-DEC.

$108

JAN.-MAR.

18.30

18/0

Two facts above others stood out in Lord Hirst's "account of the activities of the General Electric Co. Ltd., of England, during the past year, which resulted in a net proat of £1,778.000-a new record In the history of the company. The first referred to the benefits re- sulting from the intense efforts of the research workers. Secondly, although the home business kept up remarkably well, the export re- sults actually exceeded the pre- vious year's record figure.

Devaluation

Mr. Aldrich says that the policy of devaluation has falled:

True the country that first re- establishes its currency on an im. pregnable basis will become the financial centre of the world, and will get the pront of that busl

The chairman mentioned that the company's products range from the largest power plant to lamps and domestic appliances, and that last year's output was produced ness by 40,000 workers whose salaries and wages amounted to £5,500,000.

our country, the present good employment Agures, the contribu- tion of the Government to our pro- ductive programme, and our in- proving export figures all these things convince me that we can

Confidence In Future Regarding the future Lord Hirst spoke on an encouraging note. "Given that there is rot going to be an international fare-up, I feel the strong financial position of look with confidence to the future.

$4.60.

Hi!

83/6

$8.10 Waterboats

Docks, Wharves,

Godowns, etc.

$108 H. & K Whores | $107)

++

Providents

Providente (new)

PIMAI

IN

$18.20 H. W. Dooks...

1 Do. (new)

$108 Shanghai Docka 8.

$830 New Engineering 8.

18/0 Kailant

89.40 Bande

Mining

$4.60

Venezuala Gold Fids 4

4 ots. Hong Kong Hines ...

Buildings

COMMODITY MARKET REVIEW

(FROM PAYNE & CO.)

New York, July, 8 1999.

SINGAPORE RUBBER

July 7 buyers. sellers

28-1/2 28-1/4 28-3/8 · 28-5/8. 28-1/2 28-3/4

July 8

buyers sellers change 28-1/8 28-3/8 off 1/8 28-3/8 · 28-5/8 unch. 28-7/16 23-9/16. off 1/16

The market opened with prices unchanged for all deliveries as compared with Friday's closing quotations.

The market was quiet and inactive owing to the fact that the Rubber Exchanges in London and New York will remain closed to- day (Saturday),

However, better demand from New York was in evidence.

Lands, Hotels and

pl

$&1

H.K. Hotelsmann

$5.70

$35

H.E. Lands ..........

STOCKS

Adams Express

Amerada Corps,

Quiet

Market Report

FROM ROZĄ BROS Silver prices dropped over the week-end to the extent of 1/3 for Ready and -3/8 for Forward, the quotations being 16.7/8 and 18.5/8 respectively. Silver advices re. ported India as having bought. The drop was attributes to small speculative selling. The market was steady. The American mar- ket was closed yesterday.

The London/New York cross-rate was quoted at 488.15.

Market

NEW YORK STOCK EXCHANGE

Alleghany Steel Co.

Allied Stores"

Allis Obaimers

Amer. Can

QUOTATION

$357

$351

par

[Do. 1% Debentures 17

#8}

Shanghai Lande

LONDON RUBBER

$4.70 081

HI.K Boallion"....

***

Last Sale

July. B

JULY 9, 1939 STOCKS

816)

$16.60

7

14

Int. Nickel .....

"Last Sale

July 8

451

$7.40 Peak Trams (old)

Humphreys :****

$100 Chinese Estates

Cotton Milk-

$181 Ewo (8.)

$118'hai Cottons (B.)

$43 Zoong Sings (8.)

$46 Wing On Textiles (8.)

Public Utilities Tramwaya

83.70 Peak Trama (new) ...

$4.80 $8.40

Previous close To-day's close Buyers

sellers buyers sellers

change

SPOT

8-3/16 8-1/4

*$18.80

OCT-DEC.

8-5/16 8-3/8

CLOSED

8110

840

JAN.-MAR.

8-3/8

8-7/18

845

Market closed.

3154

$16.60

***

$7.40

$3.70

980 Star Ferries

1994 Yati Ferries

$294

B1

Int. Tel & Tel.

Do. (new)

33

Johns Manville

69

#8

China Lights (0)

*******

$8.20

J. & Laughlin Steel $7 pfd., 38. *

$6.80 China Lights (New)

$5.30

95 *

Kennecott Coppez ....

321

China Lights Rtv.

$54

H.K. Electrics

Sterling

Amer. & Foreign Power

21

Libbey-Owens-Ford

Glass 45

NEW YORK COTTON

The market ruled steady at the beginning, but reacted probably on profit-taking. Traders preferred not to enter any new commit- ments over the week-end, and the market is at present digesting the latest crop news. Lack of buying Interests in the market led to a lower adjustment of prices.

NEW YORK RUBBER

14

6.19/32. U.S.

Afternoon Market

Nothing doing. There were sellers at 1/2.13/16 July, 1/2.25/32 American Gas ̈& Elec,

1/2.3/4 Amar. Locomotive

August/Bentember and

October/November. buyers at 1/2. | Amer. Metals Co. 27/32 Cash, 1/2.13/16 August and Amer. Radiator 1/2.25/32 November.

U.S. Dollars

Nothing doing There sellers at 28 7/8 July, 28 13/16 August and 28 3/4 September. buyers at 28 15/16 Cash. 28 7/8 August and 28 13/16 Arst half October.

Shanghai Dollars Business was done early in the morning at 228. The market closed towards lunch time with sellers only at 225 1/2 for Spot.

Shanghai Market

Amer, Sugar Ring Amer. Tel. & Tel Amer. Tobacco "g" Amer. Waterworks Anaconda Copper. Atchison, T. & S. Fe, Auburn Motors '... Baltimore & Ohio Barber Asphalt Co Barnsdall Oil ..... Bendix Aviation Bethlehem Steel Bliss & Co.

There were sellers of Sterling Borg-Warner for cash at 6.9/16. and July at Biggs' M'facturing

Dollars, sellers at Brooklyn-M'battan. Trans. 12.25/32 for cash and July at 12. Bklyn-M'hattan $8 cum pt. 5/16. Quietly steady.

The market- was quiet in the Chesapeake & Ohlo......

Ameri & Foreign 7 pf.... · 181*

Lockheed Aircraft

·251

$18 $19

Macao Electrics

351

Loew's. Inc..

41

$231

Sandakan Lights .... Telephoom (old) ................

#

Market closed.

E24

18*

Manhattan Shirt Co.

$7.70 Telephones (Dew} 186 Tractions

***

30

Martin, Glen L

:324*

$7.30 22/-

23/8

113

McKesson, Robbins

144*

Tractiona (prof.) '

Industrials

Amer. Rolling M411

134

Monsanto Chemical

904

Amer. S'ting and Ring Co.

401

Montgomery Ward

50

Pat Dairy Products

152

were

161)

Nat. Distillers..

254

$12.60

631

National Gypsum

10

National Load ......

201

3

241

Nat. Power & Light National Steel Corp.

254

55.*

1+

Nat. Supply Corpn.

New York Central

~41

13}.

117

Niagara Hudson Power

61

131

N. 'American "Aviation

15

221

North American Co.

217

*

521

Northern Pacific

TA

81*

Pacific Cas & Elec.

301

4Xpm

Boeing Airplane Co.

201*

Pacific Lighting,

46

par

Packard Motors

41

21

31

Paramount Pictures

194

**

Pennsylvania R.R.

11

102

Phelps-Dodge.

39

34.

** DITANG⠀

314

Cald., Macg. (Ord.) 8.

$18

Cald., Macy. (Fref.) 8.

CHICAGO WHEAT

Prices again moved lower in sympathy with the easiness of the Winnipeg market. In anticipation of a large Canadiare crop, the market is prevented from improving at present.

81

Canton Ioss

Cementa

$124

$3.70 Ropes

$3.80

Miscellaneous ||

New York Stocks

Previous To-day's

close

close Change

133.22

133.24

up 02

881 Dairy Farm (Old) ...

#211

.:

$30 Dairy Farin (New)

$6.90 Ch. E'tainmentë, k

$1.5h Constructions... (old) $19.

Constructions

Lane Crawforda

Nanyang Tobacco

$1.80 Binders äkkiin

Watsons

921

$8.90

87

$1.98

N. Y. Commodity Market

18.16

44*, Ch. G.5% 1925G #Bds.

44

H.K. Govt. 4% Losos

$104

H.K. Govt. 34% Loen

$100

.K. Wing On

841

hai Wing On

$17

Vibro "Piling

Sai

14.3

·Margmans Inv. "(Lon.}

4/0

Maenadu Inv. (H.K.)

Canadian Pacific R'way. ... Case, J.L Celanes...

31

Philips. Petroleum

#1

Wm. Powelle'

Public Service of NJ.

371

Pullman Inc.

224

251

321

Pure Oll.....

Chrysler Corpn.

691

Radio Corpn. of Am, .....

51

LONDON

afternoon.

Columbia Gas & El.

51

Republic, Steel

144

Sterling

Columbia 6% -“A” pf.

84

Reynold Tobac, “g”

384

Richfeld Ou

No business was reported, finish- | Comméretal .............. ing with sellers at 1/2.15/18 July. Commonwealth & 8. (ord) 1/2.25 A2 August/September and C'wealth & B. 6% cum pf

431

Loudon, July 7.

it

Safeway Stores

414

831

Schenley Distillers ....

1/2.3/4 October/November, buyers | Consolidated Edison

30%

Schenley, 54% pfd.

at 1/227/32 Cash, 1/2.13/18 Sep- Consolidated Oll tember, probably August and 1/2. Continental Can 25/32 November.

U.S. DollarR The market closed with sellers at 28 7/8 July, 28 13/16 August and 23 3/4 September, buyers at 28 15/16 Cash, 28 7/8 August and

28 13/16 Arst half October.

Shanghai Dollars

Sellers at 225 1/2.

Corn Products Curtiss-Wright (C) Curtiss Wright "A" Deere & Co.

Du Pont de Nemours

Eagle Picher Lead

Eaton Mfg. Co.

72

Sears Roebuck

75

38*

Seversky Aircraft

£

*Sales to Shanghai

STOCK EXCHANGE

(REUTER'S SERVICE)

The following quotations are the middle prices at the close of the market in London. All quotations are subject to confirma- tion and no responsibility is assumed for errors in transmission.

(By Courtesy of Messra, Swan, Culbertson & Fritz and

3. E. Levy & Company)

New York Cotton, Oct. New York Rubber, Sept. Chicago Wheat, Sept. Chicago Corn, Sept. Winnipeg Wheat, Oct. New York Hides, Sept.

Prev. To-day's High Low Close Close Change

8.90

6.82 8.92 8.84 .08 off

16.38a closed 681 67. 68* 67% 1 484

48 471

472 of 1 off

574 5557 56

11.07 closed

NEW YORK COTTON

Close

Opening Closing

Charige

July

9.56/58

9.55/55

9.53/54

*02 of

31

October

8.91/92

Continental 'Oli

22]

Shell Union Oil

107

803

Bocony-Vacuum Oll

11+

War Loan, 31% (Red

after 1952)

5+

Southern Pacific.

121*

24+

Southern Rly 35 pfd.

184

Sperry

41

Distillers Corpn. Seagrams Douglas Aircraft' .....

171*

Standard Branda .......

#

661

Stand Gas & Elec.

27

1925-47........

149)

Standard Oll of California

254

Canton-K'loon Rly. 6%

Chinese 41% Gold Loan

1888 (Brit. Issue)......

Chinese 5% Gold Bonds,

Chin. 41% Anglo-French

Union Insurance

28-7/8 93-13/16 Gula Kalimpong Rubber 18/104

Allied Ironfounders ...... 14

8.90/98

8.82/84

08 od

December

8.71/72

8.72/71

8.83/65

.07 off

January

8.80 N

5.60/60

8.52/52

.09 ott

17/6...

Loan, 1908 ...

81

Standard Ou of NJ.

411

ነነ

22

Stons & Webster

10

Shanghai Market

Elec. Autolite.

291

Swift International

24

1912

Unchanged, quiet

Elec: Bond & Share

7

Technicolor

147"

· 1913 (Ldn. Ia}

Elec. Bond & Share $5 pr.

Texas Corpn.

38+

Elec. Bond & Share $8 pf.

04.

Texes Gulf Sulphur

27

Shanghai Exchange

Elec. Power & Light $7 pf.

234.

Trans-América Co,

6%

Fintkots

18

20th Cent, Fox.

Shanghai, July 10 (Reuter).

Food Machinery Corp.

231

20th Cent. Fox $13 pt.

Official TT. Rates

London

0/6-1/2

Gen. American Trans.

481

Union Carbide & Carbon

75

Oen. Electric

341

Union Pacific ..........................

95

New York

12-5/8

Gen. Motors...

42

United Aircraft

351"

Japan

40

Gen. Railway Signal .................

151*

United Airlines Trans.

101

Paris winsanı

6.48

General Tire & Rubber Co

221

United Corpn.

21

5%

Hongkong

36

Glidden Co. ......

United Corpn. $3 cum. pt.

India

38

Goodrich (B.F)

104

United Gas Corpá.

13

Open Market--Selling Rates Sterling

Goodrich $5 Di.

United Gas Improvement.

121

F.

Goodyear Tire & Co. ............. Great Northern Iron Ore... Great Northern, Ely, pfd. 207.

231 **

US. Rubber

141.

U.S. Rubber $8 pid.

U.S. Steel

Great Western Sugar

.258

Vanadium

Spot

Greyhound Cofpr

171

Warner Bros. Pict.....

Westinghouse Hoc.

Homestake. Mining

Woodward Iron Cor.

3pot

July

Chase National Bank National City' Bank-

-bid.

DOW JONES AVERAGE -

July

Opening Closing

Sellers

·0/6-9/16 ·· 0/6-9/18 0/0-15/230/8-15/32

U.S. Dollars

$12-25/32 $12-25/32- 12-19/32 12-19/32

Market:Quiet,

Stening

Merchant Rates

0/8-1/2 312-11/16

US Dollars.

Sliver Duty Balo The Central Bank of China's. rate on London at 10 am, to-day was 1/2-1/2d, unchanged from quoted

The Squalisation rate was not Saturday

Becker Products”.

Industrial Rayon International Harvester

1920

High » Low Dow Jonse Averages, 15485 124 F200 Eridustrials.

36.33 94.74 20 Balle

26.52 20.71 20 Unilmes 12:12 87.00) Bands

July 2, 1939, July 7, High Low Claws Change 13331 138/16 133.08, 133940s up. 38.760 26.70 26.68 26.6603 all £3.61 23,81 28.70 23.80 119 up

2 88.4

61.09 45.59 11 Commodity Index 48.18

Barinos Dane:-110,000 shares:

- (Cfer. Btpd. Supl, Loan) 12

Jap. 5% Bter/Loan, 1007 32

Jap. 6% Bter, LORN, 1524 401 Ger: 1% Intl. Lóar, 1924 331 Chartered Bank

HE. &B'hat Bánk (Lán,,

HK & Shai Bank (Col

Reg.)

Chinese Eng Minh

(bearer)

Chosen Corporation Pekin Syndi

Vickers, ord.

Woolworths

Anglo-Daten

Rub. Plant. Invest. Trust 28/6

Burma Corporation and 7/7k Commonwealth. Mining.. Margman Investments. Randfontein Estates Western Holdings... Sub-Nigel

Tanam Gold Mining.

Chinese 5% Crisp: Loan,

Chinese 5% Reorg. Loàn,

Chinese 8% Ster, Notes,

1925 (Vickers)

| Chin: Imperial, Rly. :5%

Loan

Honan Rly, 5%

Hukuang Rly 5%, 1911.... Hukaang Rly.5% 1911

(German Issue)

Lung Tsing & U; Hai Rly.

Bhai-Ning Rly 5% 17 Tientsin-Pakow Rly, 5%

/*--(Brit, Stpd.),

39% Tientsin-Pukow Rly. 5%

103(German Stpd.).

33

12

451 Tientsin-Pukow Bly. 5%

19

41

1: (Brit. Brød. Bupl:Loan) 12

Tientsin Pukow Bly. 5%

151

321

ཆབ་སཚེས བསླབ་གླ་བྱུང་སྐུ སྐུ སྐུ བསྣུབ ཙཔ་

Asso, & Elec. Industries 39/3 Austin Motors, ord. i

March

8.49/50

8.40/40

8.41/42

108 off

May

8.42/43

8.40/41

8,33/34

23/9

Cable & Wireless, New

Form, ord.

Spot

8.96 N

9.87 N

.09 off

50

B.-A. Tob. (bearer)

95.

Cammell Laird, ord... Mexican Eagle

7/1

The last notice day for July cotton is 14th.

NEW YORK, RUBBER

8/3

Courtaulds Distillers... Dunlop Rubber Gen. Electric (England) 73/71 Guinness (A) Bon & Co. 104/9 Hawker Siddeley Airc. 17/3 Bristol Aeroplane ........ 20 Imperial Chemical Ind. 28/7. Imperial Tobacco

127/6 Marks & Sp'cer "A" ord. 57/104" Rolls Royce

mininama 215

94/3 28/3

July September

December March

16.31b/352

681/680

18.42/42

16.45/45

CLOSED

The last notice day for July rubber is 37th.

CHICAGO WHEAT

July September

670/671

664/664:

681/681

103/9

December

70/701

681/68 692/631

67/874

081/69

Leyland Motors Tate & Lyle

88/41

51/9

Friday's sales

-26,880,000 bushels

Turner & Newall

78/4

United Steel

23/6

CHICAGO CORN

Smethwick Drop Forg...

15

Armstrong Stevens, ord.

579

July

47/467

461/461

Pressed Steel, com.

17/4)

18/41

September December

480/481

482/487

472/477

494/401

4047491 481/481

62/42

22/8

WINNIPEG WHEAT

July

561/561

October

57/5711

578/574

14/3

December

59/591

501691

551/561 557/58 58/58

off

38/10

1179

NEW YOEK HIDES

208/11

44d

September

1107/07

CLOSED

Anglo-Iraniar

71/3

December

Burman

71/0

NZ Silver,

Shell Trane 67 Trad

(bearer)

82/8

11.35/85

36-1/2

NY London Cross Rate 4.68-178.

NEW YORK STRAITS TIN

September

48.15b/608