1939-07-25 — Page 12

PAGE 12-HONGKONG DAILY PRESS

Finance and

MONEY AND

Shanghai Exchange

Commerce

Conditions in the exchange mar-

EXCHANGE et have been erratic, with sharp,

| wide. fluctuations in evidence,

Uncertainty is prevailing due to [profit-taking, out-port selling ot-

U.S. PLACES

EXPORT PREMIUM

ON COTTON :

export premium of 11 cts. per WASHINGTON, July 24 (T/Ocean)

„CLOSING QUOTATIONS ders and speculation as to the out--An

JULY 24, 1939

On London:

Telegraphic Transfer. 1/2 19:33 Bank Bills, on demand!/2 17/32 Credits 4 months' sight 1/927/32 On Shanghai:-

On demand

On Singapore:-

On demand

On Japan:-

On demand

On India:

Telegraphic Transfer.

and demand

Un New York:-

200

come of the Anglo-Japanese talks pound: for United States raw,cot- In Tokyo.

Official T.T. Rates Shanghai, July 24 (Reuter).

London

New York

Opening 0/4 7-3/4-

Japan

India

51 3/4

Paris

Hongkong

28-1/2 22-1/2 2.49 27-1/8

N

104

}

Open Market-Selling Rate Sterling

Ballers

J81 1/2

Bank Bilis, on demand 98 76 Credits, 60 days' sight s8 10/16

Un Batavia :----

On demand..... 53

On Paris:-

Bank Bills. on demand 1073 Credits 4 months' sight 1115

Un Saigon.

On demand

Opening Closing

ton and cotton goods was an nounced by Secretary of Agricïl- ture, Mr. Henry A. Wallace, here yesterday,

This premium. It is hoped, will help to imprové the export position of American cotton farming, the present plight of which the Gov- ernment is anxious to alleviate, specially with a view to the forth- coming presidential elections.

Mr. Wallace expressed the hope that the premium would only be Spot 0/4-7/18 -0/4-17/32 · - | necessary for a limited period of July................. 0/4-13/32 0/4-1/2

U.S. Dollars

Spo: .......... $8-5/8- 38-27/32 July ...... 8-9/18 .8-25/32 Market:-Uncertain."

Merchant Rates Sterling .... U.S. "Dollars

0/4-5/16 $ 8-3/8 Silver Duty Rate The Central Bank of China's rate on London at 10 a.m. to-day 1/2-1/24. unchanged from

FINANCE

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGE AN

Bayern ||| Ballan

$900

$300

$405

$1.35

#!

$105

time. He wished to assure the 816 other states that the United States intended only to secure a fair share of the world market and was not planning any wholesale dump- ing.

18

The United States would wel- come an international catton agreement and would support any Initiative which was taken in this direction. In such an agreement. well informed quarters declare, the United States would propose a The Equalisation rate was not limitation of production to the

South American states,

was

.. 107

Un Manila: --

· On demand

57 1/8

On Bangkok ---

On demand

152 1/4

Sterling Notes:-

Bank Buying Rate

Bar Bliver per oz.

1/3 13/16 | quoted, 10 7/8

Saturday.

•

NEW YORK STOCK EXCHANGE

STOCKS

Market Report

FROM ROZA BROS.

The price for Ready Sliver rose 1/16 to 16.7/8 but the Forward

rate was unchanged

at 16.3/8. Adams Express

Silver advices reported the market Alleghany Steel Co.

as being steady with a small busi-Allled Stores ness

QUOTATION

SHAREBROKERS• ASSOCIATION

Mont

MONDAY 24,

JULY

„Banks.

$1330 H.K. Banks

£80

Do.. (Cal. Bag.) ``...

£76

£8

£30

276

Do. (Lon. Reg

Chartered: Hanks

921) Marosatile Bks. **** £13) - Marcantile Ban, “g"!

$90

Bank of East Asia ... N. C. B. Banka.

Insurances

Canton Insursocas Union InsurEDCON Underwriters

185H.A. First

Shipping

987

Douglases sporpanel

$15

Steamboat

#80

Indo-Chines

30

"83/9

lodo-Chinas (Def.}... Shells

$8.10 Waterboate

Docks, Wharves, Godowns, etc.

HK. K. Wherred

$4.40 Providenta

Providenta (naw)

H.K. & W. Docks...

Do., (new)

8108 Shanghal Docks & 38.30 New Enginestings B.

Mining

17/6 Kailaren

$9.40 Raubam

"Venezuela Gold Fide

4 eta, Hong Kong Mines...

$5

$35

par

E

Lands, Hotels and

Buildings"

H.K. Hotas

H.K. Lands.......5.

Do. 4% Debectares

$8.60 Shanghai Landa 8. $4,80 H.K. Boultion

Humphreys ......

851

8100 Chinese „Estates

Cotton Mills

318 Ewo (8.) #105 S'ha Cottoar (8.)

$43

kw

Zong Sings (9.) 48 Wing Or Textiles (8.)

Public Utilities

Tramways

87 40 Peak Tram (old) $3.70 Peak Trams (new) $85 Star Ferriss .........................` $237'mati Farris

Do. (new)

$8.20 China

(0)

Chins Lights Rta.

116 117

*** RUDJEL

Wr

#1: !!!*

!!!

TUESDAY, JULY, 25, 1939.

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING HONGKONG

COMMODITY MARKET REVIEW

(FROM PAYNE & CO.)

480

50 ats

$200

$406

$185

$67

$10

850

$20

63/9

#3

S. POT

OCT.-DEC.

$104

-$4.40

$17.

$106

$8.30

17/0

#81

85.40

New York, July 23, 1939.

SINGAPORE RUBBER

"July 2 buyers sellers

change

28-3/8 28-5/8 28-5/8 28-7/8

July 21 buyers sellers 23-1/4 28-1/2

up 1/8 28-1/2 28-3/4

up 1/8 28-5/8- 28-7/8 28-11/16 28-15/18 up 1/18 The market opened 1/4 of a cent higher for all deliveries na com- pared with Friday's closing quotations,

JAN.-/MARCH

The market ruled steady early in the morning due to better de- mand for Immediate and near deliveries, particularly from York

Now

Subsequently, however, the market turned very dull, operators apparently, awaiting the result of the July 25 meeting of the Inter- national Rubber Regulation Committee. In view of this fact there was lack of speculative buying interest as well as absence of selling pressure all of which made for market inactivity.

American Motorcar production for the week ending 21 instant showed a sharp decline which, however, is seasonal. Reports on American business-recovery continue to be favourable. It is, there- fore, felt that further price-Improvements may be confidently anti- cipated, always providing that the market will not be subject to out- side innuences such as labour troubles. political tensions ets.,

LONDON RUBBER

Previous close To-day's close. buyers sellers buyers sellers 8-3/8

6-7/16

8-7/18 8-9/16

8-0/18" 8-5/8

change

$35

$140

81.80

181

919.1 8110

$40

$45

SPOT

-$161

་་ $7.40

OCT.-DEC.

JAN-MARCH

$3.70.

4108

Market closed.

Last Sale!

JULY 23, 1939

July 22

STOCKS

81

Last Sale July 22

$16.56

CLOSED

191

Int. Tel. & Tel.........

7

97

Johns Manville

802

done. Bears covered small extent. The American mar-

to a

Allis Chalmers ... Aluminium Ltd

381

J. & Laughlin Steel $7 pfd. 46 *

1301

Kennecott Copper

371

ket was unquoted.

Amerada Corps. Amer. Can

647

Libbey-Owens-Ford

Glass

521

$0.10 China)

$8,10

85.10

96

Lockheed Aircraft

271

The London/New

York rate was quoted at 468.25.

Cross Amer. & Foreign Pöwer ...

21

Loew's Inc.

451

$63.8541

H.K. Electrics

$IA

Macao Electrion .....

Ameri & Foreign #7 pf....

201

Manhattan Shirt Co.

13

#12

Sandakan Lights:

Market

American Gas & Elec

38

Martin, Gien L.....

35

$25

Telephones (old),,

122

Quiet.

Amer. Locomotive

201

McKesson, Robbins

18

$7.81 Telephone (new)

7.30

Amer. Metals Co.

304

Monsanto Chemical

2037

18/0 Tractions

The average forecast of last week's stocks of rubber in London and Liverpool shows a decrease of 2,400 tons.

NEW YORK COTTON

Early in the session the market ruled Irregular, easing slightly on liquidation and selling. Later however, good buying and covering advanced prices Weather, crop prospects and the forthcoming subsidy announcement are all major market influences.

Sterling..

Amer. Radiator

13

Montgomery Ward

55+

21/6 Tractions (prof.)

Industrials

NEW YORK RUBBER

Business was done at 1/2.11/18

Amer. Rolling Mil

181

National Cash Register Co.

204

$14

for July and also 1/2.21/32 Sep Amer. S'ting"and Ring Co. tember. The market closed at 1Amer. Sugar Ring p.m. with sellers at 1/221/32 July/Amer. Tel. & Tel September and 1/2.5/8 October Amer. Tobacco "B" November, probably December. Amer. Waterworks

43.

at. Dairy Products

173

161

Nst. Distillers

26

1671

National Gypsum

131

85

National Loedger

23

111

Nat Power & Light

.91

201

Cald, Mang. (Ord.) 8.

Market closed,

310

Cald, Kacg (Fref.) 8. Canton Leen

$1

$3.70 Ropes

buyers at 1/2.11/18. Cash, 1/2.21/anaconda Copper 32 October and probably 1/2.5/8Atchison, T. & S. Fe. January.

U.S. Dollars

A small business was done at 28.5/8 for August delivery. market closed at 1 p.m. with sell- ers at 28 5/8 July. 28 9/16 August, probably September, buyers at 28 11/16 Cash, 28 5/8 August and: 28 9/16 Arst half October.

Shanghai Dollars

Barnsdall Ol...... Bendix Aviation Bethlehem Steel Bliss & Co.

Opened with sellers at 322 with B'klyn-M'hattan $6 cum pf. bustness done subsequently at 332 Canadian Pacific R'way....

The market then sagged to 310. Case, J.I.

Towards 1 p.m. there were sellers Celanese

278

National Steel Corp.

66

·30元

Nat. Supply Corpn.

9

Auburn Motors

New York Central

161

Baltimore & Ohio

51

Niagara Hudson Power

7

Barber Asphalt Co

141

N. American Aviation .....

181

141

North American Co.

24)

*:*

The

264

Northern Pacific

91

Watsons

65

Owens-Tilinols Glass Co.

672

Pacific Gas & Elec.

101

33..

$104

$12.60 Cements

Miscellaneous -

$21 Dairy Farın (Old). 1201 Dairy Farm (New) $8.90 Ch. E'timenta ...... $1.55 Constructions

Constructions

371 Lane Crawford

Nanyang Tobacoo

$1.80 Binders

$8,40

ྂ---------ཝཾ

33. Ch. 2.5% 1925G Bd...

ELE, Gort. 4% Loans

| #12.60

CHICAGO WHEAT

$3,50

Bal

$8.90

(old)

(ww)

Prices moved lower on the easier Winnipeg market." liquidation and profit-taking. Rainfall in Canada was a favourable factor, but was insufficient to affect the market to any extent. The subsidy announcement, probably next week, is awaited with interest both in Chicago and Winnipeg.

also

or

87)

Previous To-day's

close

"close

Change

$1.98

New York Stocks

143.46.

144,71

up 1.25

35 lo

8104

Boeing Airplane Co. Borg-Warner

241

Pacific Lighting

49

399

R.K. Govt. 8% Loma

981

261

Packard Motors

32

$41

H. Wing Ou

Hi

Biggs M'facturing

231

Paramount Pictures

S'hat "Wing On................

10

#81

Vibro Piling

$8

Brooklyn-M'hattan Trana.

Pennsylvania R.R.

13

191

14/8

Marsmans for. (Lou.)

43

Phelps-Dodge

404

4/0

Maramane Lov. (H.K)

41

[Phillips Petroleum

36

Public Service of NJ.

77

393

Pullman Inc.

261

297

at 322, buyers at 325...

Shanghas Market

Chesapeake & Ohio

Chrysler Corpn.

Colts Patent Fire-Arms

351

Pure Often

71

84

Radio Corpn. of Am.

LONDON

80

•

Reading Company, ist pfd

..

23

sellers

for Spot.

Opened nominal at 43/8 for Columbia Gas & E. ....................* Caah. Subsequently the

Columbia 8% "A" pl....... eased to 1/4 The market ther Commercial reacted and sellers were reported Commonwealth & 8. (ord.) at 4.5/8 for Spot. Towards 1 pm C'wealth & 8. 6% cum pt.

the market eased off to 4.7/16

Consolidated Edison US Dollars Consolidated Oi

opened nominal at 8.3/8 and Continental Car closed at lunch time at 8.5/8 for Continental Of Spot,

87

Remington Arms Co., Inc.

23*

market

86

Republic Steel,

181

Reynold Tobac ̈"B"

Landon, July 21

491

40

Richfeld On.

1j.

T

68

Safeway Stores

46

327

| Schenley Distillers

13

71

|Schenley, 54% pid

&

381

Bears Roebuck

801

221

| Seversky Aircraft

37

¡Corn Products .....

82+

Shell Union On

114

Canton-K'loon Rly,5% 12

Curtis Wright (C.)

54

Bocóny-Vacuuru Off

12

Curtiss' Wright "A"

251

Southern Pacific

15)

1898 (Brit. Issue)...... 38

ber.

U.S. Dollars

Afternoon Market

The market was quiet in the afternoon.

Sterling

Some business was done at 1/2. 321/32 October. The market closed Elec. Autolite

with sellers at 112.21/32 July Elec. Bohd & Share first half October and 1/2.5/8 Elec, Bond & Share $5 pf. Elec. Bond & Share $8 pí. October/December, buyers at 1/2. 11/10 Cash and 1/221/32 Noyem-Elec. Power & Light #7 pt.

A small business was done at 28 Gen. Mectric

5/8 for August delivery. The Gen. Motors... market closed with sellers at 28 Gen. Railway Bignal 6/8nly and 28 9/16 August General Tire & Rubber Co 24 buyers at 28 11/16 Cash and 28 01dden Co.

3/8 August.

Shanghai Dollars.

Sellers at 318...

Shanghai Market,-" Steady. Sellers of. Sterling at 9/16 for Spot and UB. Dollars

8.1/8 for Spot.

Great Northern Rly, pid. Great Western Bugar Greyhound. Corpn.

Eecker

Products

Deere & Co.

21

Southern Rly 85 pfd

Distillers Corpn. Scagrams

18)

Sperry

451

Douglas Aircraft

731

Standard Brands

67

Du Pont de Nemours

1583

Stand Gas & Elec.........

721

Eagle Picher Lead

91

Standard Oil of California,

Eaton Mfg. Co.

25+

Standard Oll of NJ..

43

1812

381

Stone & Webster

12

Chinese 5% Reorg Loan,

Swift International

271

1913, (Zdn. Is.)

Technicolor

16.

Chinese 8% Btar. Notes,

68

Texas Corpn.

371

30

Tezes Gulf Sulphur ................

30

Funtkote n Food Machinery Corp. Gen. American Trans.

221

Trans-America Co.

·33*

20th Cent, Fox

201

521

20th Cent, Fox. $14 pf. ........-30

381

Union Carbide & Carbon 831

48

Union Pacific

....... 19

| United Aircraft

*387-

United Airlines Trans...

10

United Corpn.

124 21

Goodrich (B.F.)'

Goodrich $5 pt.

Goodyear Tire & Co.

Great Northern Iron Ore

101

United Corpn. #3 cum. pf. 371 681 United Gas Corpn.

32.

-141*.

United Gas Improvement 134 US..Rubber

481

214

US, Rubber #8 pta:

1104

U.B. Steel

537

101

Vanadium

247

127

Warner Bros. Pict.

fap. 6% 8ter, Loan, 1907 201

Hercules Powder Co

73

Westinghouse Mec.

110

Jap. 6% Ster Loan, 1934 33}

Homestake Mining

Woodward Iron Cor.

-22:0

HONGKONG

SHAREBROKERS

ASSOCIATION

Volume of Business Transacted

on Monday, July 24, 1939.

11 $1,320.00 $295.00 Loan $50,000 par

(23.52, 420.71) 20 Utilities 99.23 87,06 40 Bonds

Industrial Rayon #

27

Chase National Bank ......

Ger. 7% Intl Loan, 1924 334 Chartered Bank

International Harvester Int. Nickel C

581

National City Bank

501

DOW JONES AVERAGE

HK. & Bhai Bank (Lda.

HA & Bhai Bank (Col

Reg.)

1989

July 23, 1829,

Chinese Eng“ * Mint

High Low Dow Jones Averages, 154.85 191.44 20 Industrials

34.28 26110 Balle

PS 0.24

51.99 45,59 11 Commodity Index 47.09

July 21, High Low Close Change || (begrer) 143.38 146.09 143.97 144.71 1.26 up Chosen Corporation..

22.8630.30 20,05 90.90

up Pekin Syndicate..... 25.53 ***|| 26,00 25,89 26,01

28 up 89,05

80,05 11 Business Dome-810,000 xbarón....

shal Bec. Constr. Co.

0 Shal Waterworks AR 194

པ གླ ༞ ༞ ན ཚོ ཌ འ བ བ ཌ ཌ ཌ འཆུཊྛོ ༔ ་ྩ བྷདི༔

Asso. & Elec. Industries 40. Austin Motors, ord. 28/9 Cable & Wireless, New

Form, ord"

501

B.-A. Tob. (bearer).

92/8

Cammell Laird, ord. Mexican Eagle

·7/14-

+7/71

1925 (Vickers)

Chin. Imperial Rly, 5%

Loan

Homan' Rly. 5%

Hukuang Rly. 5%, 191113 Huknang Rly. 5%. 1911

(German IssUS)

Lung Thing & U. Hai Rly, (45% 1913

S'hai-Niking Rly 5% 13 Tientsin-Pukow Rly, 5%

(Brit. Btpd.)

Tientsin-Pukow Rly, 5%

(German Stpd.) Tientsin-Pukow Rly. 5%

(Brit. Stpd. Bupl Loan) 11 Tientsin-Pukow Rly. 5%!! (Gler, 8tpd; Supl. Loan) 11.

Anglo-Dutch

Rub. Plant. Invest. Trust 26/43 Burma Corporation ...... 7/8 Commonwealth Mining.

Courtaulds

Distillers Dunlop Rubber

Gan. Electric (England)-74/3 Guinness (A) Bon & Co. 100/6 Hawker Siddeley Airc... 16/9 Bristol Aeroplane

18/3. Imperial Chemical Ind. 28/7+ : Imperial Tobacco

131/3 Marks & Spicer "A" ord. 59у41.

Wm. Powell

*Bales to Shanghai

STOCK EXCHANGE

(BEUTER'S SERVICE)

A

"The following quotations are the middle prices, så the class of the market in London. All quotations are subject to confrms- tion and no responsibility is assumed för errors in texnamission.

Union Insurance ..........

26-7/8* 92-9/16. Gula Kalumpang Rubber 16/10

Allied Ironfounders...... 17/6

War Loan, 31% (Red

after 1952)....

Chinese 41% Gold Loan,

Chinese 5% Gold Bonds,

1925-47

Chin, 43% Anglo-French

Loan, 1908

26% Chinese 5% Crisp Loan,'

N. Y. Commodity Market

(By Courtesy of Messrs, 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'i Low Close Close Change. 8.70 8.60 8.65 8.64,0.1 off

18.66 closed

411 391

11 off

528 51 52 514 1 од

11.70 closed

High

651

632

64 63

NEW YORK COTTON

Close

Opening

October

8,64/65,,

December January March

8.53/53

Closing 8.64/64 8.49/49 8.54/54

8.61/50

-8,40/40

8.36b/37a 8.40/40

Change

2.01 of

01 up unch.

.832/32:

8.30/30

8.32/32

May

8.23/23..

8.21/21

8.23/23

July

8.14/14

8.13/12

8.15/17

Spot

9.44 N

9.44 N

NEW YORK HUBBER

4/104

27/3

July

10.60/04

September

16,65/66

December March

416.71/72

CLOBED

16.75/75

The last notice day for July rubber la 27th.

Rolls Royce

101/10

Leyland Motors Tate & Lyle

02/09

July September

42/71

December

Turner & Newall

73/41

641/642 647/648 83/631 66/681 664/661 66/851

Friday's sales:-27,743,000 bushels

CHICAGO WHEAT 64/641

622/621

off

off

United Steel

23

Smethwick Drop For 14/8

Armstrong Stevens, ord: 5/9

Pressed Steel, com

18/0

July

CHICAGO CORN 301/39

301/301

Vickers, ord

Woolworths

18/41 84 22/11

September December

404/401 401/401 307/40 417/42

1423/4214

WINNIPEG WHEAT.

414/411

Marsman Investments..

Randfontein Estates

Western Holdings

Sub-Nigel

Tanami Gold Mining.. Anglo-Iranfan

14/6 36/101 11/4

July October December

5217521

511/514

520/522

52/52

611/511

641/54

341/54)

531/531

NEW YORK HIDES

210

过

September

11.69/70

Burma!

75 12/0

December..

12.04/04

17/0

Shell Trans, ^de

(bearer)

NY Silver, Omcial .......... 34-3/4 NY-London Cross Rate 4,68-1/4

83/9

Nom

22/8

September

NEW YORK STRATTA TIN

48.056/40%

Closed