1939-08-22 — Page 12

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PAGE 12-HONGKONG DAILY PRESS

MONEY AND

KWANGTUNG HONGKONG

"EXCHANGE FINANCE

CLOSING QUOTATIONS UNAFFECTED

AUG. 21, 1939

On London:-

SHAREBROKERS'

ASSOCIATION

Volume of Business Transacted

FINANCE

HONGKONG SHARE QUOTATIONS

STOCK EXCHANGE

SHARKEROKIES ABSOCIATION

BRIT

Bellera

MONDAY 21.

Sureret Bellers

Balan

Mondon

on Monday, August 21, 1939, Cements ...

100

$12.75

100

20.00

19.00

500

4.15

-UB. $150 at 30% 10,000 0:21

SLUMP IN CHINESE y Farms (0)

Dairy Farms (N)

Telegraphic Transter. 1/8 193: | NATIONAL DOLLAR Providents

Bank Billa, on demand!/ 19/32 Credits 4 months' sight 1/2 87/32

On Shanghai:--

On demand

ать

On Singapore:—

On demand

51 3/4...

On Japan:-

Ou demand

104

On India.

Telegraphic Transfer.

and demand

On New York:-

81 1/4

Bank Bills, on demand 28 7/18 Credits, 60 days' sight 98/15/18:

Un Batavia :--

On demand

02 3/4

On Paris-

Bank Bills, on demand 1373 Credits 4 months' sight 1115

Un Saigon ***

On demand

Un Manila: --

On demand

On Bangkok-

On demand

108 3/4

57 1/8

152 1/4

Sterung Notes:-

Bank Buying Rate

Bar Silver per o

13/16 17 1/8

Market Report

FROM ROZA BROS.

for

Silver prices rose over the week- end to the extent of 1/16 Ready and 1/8 for Forward, the quotations being 17.1/8

and 16. 15/16 respectively. Silver advices reported India and Speculators as

(From Our Own Correspondent)

SHAOKWAN, Aug. 19.-The stump of the Chinese national dollar does not affect Kwang- kung finance, as cost of living in this province has not risen higher in occupled areas as in Shanghai.

The provincial currency is slightly higher than the na- dollar, whose normal tional value is equivalent "to $1.44 provincial currency. While this. may be attributed to Japanese bay provincial attempts to notes, their stability is due to their limited circulation,

1925 Gold Dollar

Bonds Itogonk

The war of resistance is not hit by the depreciation of the national dollar, because Chungking can grant foreign exchange at the official rate of seven pence a dol- lar for necessary purchases such suficient are arms. There By ammunition and other essentials for the present need, while future purchases will be covered by allver reserves abroad.

The Japanese in the occupied areas are also hit by the deprecia- the Chinese MUITONLY

The harvest this year is exception "of tionally good, and there will be which they get by selling goods. less demand for imported rice. If the value of the dollar is raised Farmers are benefited by the fine by the Chinese, authorities, the will reap 'a benefit crops, although they are subject to Japanese

China is better off, because she much harassing by Japanese war-

does not depend on exports and planes.

has long term credits, while Japan is just the other way, it is pointed out here. Hence China is better prepared for a long-term war and bitter economic struggle.

BALANCED BUDGET Provincial currency is sound, as has the Treasury Department balanced Its budget: All unneces- sary Imports have been reduced.

NEW YORK STOCK EXCHANGE QUOTATION

STOCKS

having bought to a small extent. Adams Express The market was steady. The American market was unquotes.

The London/New_York" "cross- rate was quoted at 488.13.

Market

Opened unchanged but later the tone appeared caster" owing to some demand.

Sterling

Business was done during the 'course of the morning at 1/29/16 Ier May followed subsequently by transactions at 1/2.19/32 tor February delivery. Later offers at 1/2.5/8 were accepted for October. September and Cash and 1/2.19/32 was also done for January delivery.

The market closed at 1 p.m. with sellers at 1/2.19/32 August/Sep- tember, 1/29/16 October/January and 1/2.17/32 February/May, buy- ers at 1/2.5/8 Cash, 1/2.19/32 January and 1/29/18 May.

Allis Chalmers

Amer, Sting and R'ing Co.. Amer. Sugar Ring Amer. Tel. & Tel.

Amer, Tobacco "B" Amer. Waterworks ..... Anaconda Copper

Atchison. T. & S. Fe.

Auburn Motors... Baltimore & Ohio Barber Asphalt Oc Barnsdall Oil Sendix Aviation Bethlehem Steel Bliss & Co.

Boeing Airplane Co. Borg-Warner, Biggs M'facturing Brooklyn-M'hattan Trans. B'klyn-M'hattan $8 cum pl. Canadian Pacific R'way. Case. JI.

1.S. Dollars Business was done during the course of the morning at 28 1/2 for cash and 28 7/16 September. The market closed at 1 pm, with sellers at 28/18 August, 28 3/8 September and 23 5/16 October. buyers at 1/16 higher respectively. Shanghai Dollarn Business was done during the course of the morning at 425, 424 and 422 Towards lunch time sellers were quoted at 415.

·· Shanghai Market. Opened with buyers at 3.13/32. Subsequently the market armed Columbia Gas & E.

up to 3.15/32 and towards lunch time sellers were quoted at 3.29/64

for Spot Steady.,

#13

*::*

;:དི༔:;

34.15

AUG.

Baske

$1955 H.K. Banka £76 Da (Col Bag.) "The Loo Bog) Chartered Banka ..... 594 Marcantile, Bka. “4"

£61

213 Marcantile Bka, “C” $79 Bank of East Asia ........ N. C. & B. Beaks... Insurances

$200 Cantos Insurances ... $380 Union Insuradors [Underwriter

#11

$10 HK Fles

$47

$40

$30

81/6

"Shipping

Dougla Steamboats

Indo-Chinse

(Prof.

Indo-Chinas (Dal)...

[Bhalla

$8.10 Waterbosta

Docks, Wharves,

Godowns, etc.

$1034] H.K. & K. Wharven | $102

|Providenta

Providante (new)

7510

$18 EE. & W. Dooks...

Do. (new)

a110 Shanghai Dooks 8.

$8 Now Engineerings: 6.

Mining

12/dKain ....................

40 Raube

Venezuela Gold Fide

4 cta. Hong Kong Mines ....

$96

|Lands, Hotels and Bulidings

H.K." Hotels

09$

Or tr

WITTLE !!!

****

#1955

245

TUESDAY, AUGUST 22. 1939.

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING

HONGKONG

£12

$12

50 ots

COMMODITY

3900

$380

387

$18

$20

89/6

MARKET REVIEW

(FROM PAYNE & CO.)

SPOT

$4.13

OCT./DEC.

$161

JAN./MARCH

$100

$8.30

13/6

$.40

New York. Aug. 19.

SINGAPORE RUBBER

August 18:

buyers" sellers

August 19 buyers sellers

chinoge

28-8/15 28-13/18 28-5/8 28-7/8 Up 1/16

23-3/4 29

23-3, 4 29

28-3/4 29

unch.

The market opened 3/18 of a cent higher for all deliveries, as compared with Friday's closing quotations.

Firmer advices from London and New York failed to stimulate the Singapore market.

"London reports very good demand for spots

Business was transacted for January/March at 29-9/16. "Singapore continues to be very difficult market to operate on due to the reluctance of the trade to do business in forward de- liveries.

Closing tone was "quiet

LONDON RUBBER

Previous close To-day's close buyers sellers buyers sellers 8-11/14 8-13/16

8-5/3 8-3/4

Closed

change

$4,50

#33 H.K. Landa ..........

$321

par

Do. 1% Debentures

$100

$7.90 Shanghai Lazda 8.

H.K. Reities ..........

#s Humphreys

$7.90

$18.80 S POT

$110

OCT./DEC,

$40

JAN./MARCH

"Market closed.

#!:

$16.10

"B7 40 $3.70

Bax

*ER

$7.85 $7.80

$4,80

#54

Market closed.

3214

29/

Chinese Estates

Cotton Mills

$18'70 Ewn (S.)

120 S'hal Cottons (8.) $43 Zoong Sings (8.)

$48 Wing On Textiles (S.)

Public Utilities

$16.20 TramWAJE

$1.40 Peak Trams fold)

$3.70 Peak Tráma (now)

$63) Star Forries

mati Ferries

Do. (0)

Chins Lights (U)

4.00 China Lights (New)

China Lights Rts.

$642 H.K. Electric

Macao Electrck=

Sandakan Lights Telephone (old)

87.60 Telephones (bew)

Cald., Macg. (Fred.) 8. Canton Ioen ******** Cementa

$3.70 Ropes

Miscellaneous

$21 Dairy Farm (Old)

$191 Dairy Farm (New) $0.90 Ch. E'tainmenta

$1.55 Constructions

ConstructionE

Lane Crawfords

Nanyang Tobacco.

Ch. G.5% 19250 $8da.

$1024 H. Govt. 1% Loans

NEW YORK COTTON

Moderate buying by the Trade furnished, demand which was off- set by increased hedge-selling. There was not much change in the favourable weather conditions. Advices from Bombay indicating an insufficiency of rain and severe drought in" many of the main producing areas, had no effect on this market.

NEW YORK RUBBER

CHICAGO WHEAT

Prices advanced on improved demand, coupled with reports of good exports. The strength of cash wheat, was a continued sub- staining influence. Trading, however, was somewhat restricted. with some operators remaining on the side-lines pending clarifica- tion of the situation in Europe.

$12.80

$3.80

$20

$zu

New York Stocks

$6.90

(old)

(new)

$74

81.08

$73 33%

$104

H.K. Govt. 3% Low

$99

841

H.K. Wing Oa

s'hat Wing On....

$10

Vibro Piling

14.0 Marsmans Inv. (Lon.)

4/0

Marsmans Inv. (ELK.)

Wa. Powella

*Sales to Shanghai

Last Sale

AUGUST 20, 1939.

Aug. 19

STOCKS

Last sale

8-5/8 8-3/4

ལྤ ·་,

-Aug, 19

Alleghany Steel Co.

151

Int. Tel. & Tel.

Allied Stores

Johns Manville

313

[J. & Laughlin Steel $7 pid

43*

Aluminium Ltd

114*

Kennecott Copper

Amerada Corps. Amer. Cen

Lakey Foundry & Mac.

Libbey-Owens-Ford

Glass

47+

$7.80

American Cyanamid B Amer, & Foreign Power "Ameri & Foreign $7 pf.... American Gas & Elec Amer. Locomotive Amer, Metals Co. Amer. Radiator.... Amer, Rolling Mill

271

Lockheed Aircraft

Loew's Inc.

413

182

Manhattan Shirt Co.....

121

361

Martin, Glen L

291

BIH

McKesson, Robbins

#18

$22

Monsanto Chemical .........

987

101

Montgomery Ward

198

Tractions

33%

National Cash Register Co.

32/

Tractions (prof.)

·431

at. Dairy Products

161

Industrials

Nat. Distiller

231

814

Cald., Macg. (Ord.)'§.

$15

1624

National Gypsum

101

National Load

201

Nat. Power & Light

|127/80

82.

231

National Steel Corp.

601

241

Nat. Supply Corpn......

New York Central....

Previous „To-day's

135.54

Change 135.11 OF 43

Niagara Hudson Power

11+

N. American Aviation

North American Co.

227

371

Northern Pacific

561

Owens-linois Glass. Co.

632

31.80 Bincares

Pacine Gas & Elec.

334

$7.90

Watrous

N. Y. Commodity Market

Pacific Lighting

481

Packard" Motors

19+

Paramount Pictures

111

Pennsylvania R.RE

161

425

| Phelps-Dodge

371

Phillips Petroleum

321

601

Public Service of NJ.

392

path.

******

244

Pullman Inc.

Celanese

Chesapeake & Ohio Chrysler Corpn.

324

Pare O.......

.79

Radio Corpn. of Am. ...

Colts Patent Fire-Arms

75 *

Reading Company, 1st pid

Remington Arms Co., Inc,

LONDON

STOCK EXCHANGE

Columbia 6% "A" pi.

831

Republic Steel ....

151

Reynold Toba£. "B"

381

(BEUTRE'S SERVICE),

(By Courtesy of Messrs. Swan, Culbertson & Fritz, and 8. E. Levy & Company)

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

High Low

Prev. To-day's

Close Close Change

8,70 8.72 8.77 8.72 05 off

671 431 43. 521517

16.67

881 601

.closed

1 up

437

51#

522

1. up

9.88

closed

Commercial

Commonwealth & 8. (ord)

Richfield O

Landen, Angust 19...

NEW YORK COTTON

Safeway Btores

C'wealth & S. % cum pr.

Consolidated Edison

301

Schenley Distillers

117

Schenley, 54% prd:

Consolidated. Oll

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

Opening

Closing

וי

Change

Beara Roebuck

751

201

Seversky Aircraft

591

Shell Union:Oll .....

101

War Loan, 31% (Red

after 1952)

Socony-Vacuum oli

231

Southern Pacife

121

911 Canton-Kloon Bly. 5% 12 Chinese 41% Gold Loan, -

171

Bouthern Rly $5 pfd.

2222

161 Sperry

1898 (Brit. Issue)...... Chinese 5% Gold Bonds,

Union Insurance

22 Gula Kainmpong Rubber 17/6 Allied Ironfounders Asso. dec. Industries. 40/6 Austin Motors, ord. 29/3 Cable & Wireless, New

17/44

October December January March May

8.77/71

8.78/79

8.72/72

05 of

8.50/80

8.81/62

8.57/57

03 of

8.47 N

8.47/47

8.44 N

.03 04

8.40/40

8.41/41

8.38/38

.02 off

8.24/24

6.25b

8.23/23

.01 of

July

8.08/08

8.10/10

8.07/07

.01" off

Spot

232 N

9.22 N

10 of

B41

Standard Brands

1925-47

Form, ord.

NEW YORK BUBBLE

156

Stand Gas & Elec.

Chin. 44% Anglo-French

B-A. Tob. (bearer)

88/9

Standard Oll of California

Loaz, 1908

Cammell Laird, ord. .. .. 7/14

September

16.67/67

241

Standard Oil of N.J.

391

Chinese 5% Crisp Loan,

Mexican Eagle

December

18.63/65a

CLOSED

331

Stone & Webster

10%

1912

-18

Courtaulds

29/71

March

10.640/60a

Swift International

204

Chinese 5% Reorg. Loan,

Distillera

95/6

Elec. Band & Share $5 pr. Elec. Bond & Share $6 pf.

Technicolor

154

1913 (Ldn. Is.).

27-1/2

Dunlop Rubber

May

16.666/670

27/9

674

Texas Corpn.

341

Chinese 8% Ster. Notes.

Gen." Electric (England) 74/3

CHICAGO WHEAT

Elec. Power & Light $7 pf. Fintkote

301

Texes Gulf Bulphur

1025 (Vickers)

Guinness (A) Bon & Co. "09

Trans-Aiberica. Co, ..

Chin. Imperial Rly. 5%

Hawker Siddeley Airc.... 18/1

quoted

Food Machinery Corp.

321*

20th Cent. Fax.

"Coar

Bristol Aeroplane

17/41

Gen. American Trans. ...............

20th Cent, Fox. siż pf.

Bonan Fly 5%

Gen. "Electric"...

341

Union Carbide & Carbon

707

Hukuang Rly. 5%. 1911... 13

imperial Chemical Ind. 29/7 Imperial. Tobacco

September December

88/861

881/661

67/67

65+/651

651/657

MayTM

*65+/851

861/661 664/661

130/7/

Gen. Motora ».

448

Union Pacific

Bukuang Rly.5% 1911

United Aircraft

344

Marks & Sp'cer "A" ord. 59/6 Rolls Royce

Friday's sales:-9,856,000 bushels.

103/9

General Tire & Rubber Co 197

United Airlines Trans, in

101

Long Tsing & U. Hai Rly.

| Leyland Motors

CHICAGO CORN

Glidden Co.

United Corpn.....

5% 1913

Tate & Lyle

62/6

Opening

19 United Corpn. #3 cum pf.

United Gas Corpn.

369

S'hai-N'king Rly: 5% 13

Turner & Newall

***** 19/4/

September December

8-5/16-

Goodyear Tire & Co..

251

United Gas Improvement 137

Tientain-Pukow Riy. 5%

(Brit. Stpd.).

United Steel

23/9

May

427/45 43+/431 428/424 42+/424 424/421 45/461

431/431

451/451

Smethwick Drop Forg...

15/-

23-1/8

Great Northern Iron Ore

13#

US. Rubber

*394

18-1/6

Great Northern Ely, pfd.

U.8. Rubber $8 pid.

1071

2.39

Great Western Sugar

244

US. Steel

451

..../22-1/8

Greyhound Corpn.

171

| Vanadium"

Hecker Products

111"

Warner Bros. Pict.

Hercules Powder Co.

72 *

Westinghouse Elec,

10040

Homestake Mining

637

Woodward Iron Cor.

174*

Industrial Rayon

22*

Chase National Berk

314*

Spot

Aug.

International Harvester Int.. Nickel

511

National City Bank

241

Tientsin-Pukow Rły, 5%

(German Stpd.). Tentain-Pukow Rly, 5%"

(Brit. Stpd. Supl Loan) Tientsin-Pukow Rly. 5%

(Ger. Stpd. Sapi. Loan) 13 Jap. 5% Ster. Loan, 1907 301 Jap. 5% Ster Loan, 1924 33) Cher. 7% Intl Loan, 1924 301 Chartered Bank (

Armstrong Stevens, ord.

5/9

Pressed Etsel, com

18/T

Vickers, ord

- 17/74

Woolworths.

65/14

Anglo-Dutch

October December May

WINNIPEG. WHEAT

517/513 51/524 53/53

53/531

52/524

531/534

5612

57 A

999

Rub. Plant. Invest. Trust

23/9"..

NEW YORK INIDES

September

9.87/9.88

6-3/4

December

10.19/22

HK. & Shai Bank (Ldn.

12/44

NY-Bliver, Omelal

35-3/8

Bept,

0/3-1/32 0/3-5/32

200

1-ex, diy,

ELK & Bhat Bank (Col.

U.8. Dollars

"DOW, JONES AVERAGE,

Tanami Gold Mining..

6d.

Spot

$5-5/8

$6-25/32,

Anglo-Iranian).

$1/3

1939

Ang, 10, 1939, C

Aug.

6-8/26

6-374.

High Low Dow Jones Avoragon:

Sept

5-29/32

Market: Steady...!

Merckmit Rates

Sterling, 9/3-5/8. ⠀⠀⠀ US Dollars, $6-9/16,

6-1/8

154.85 JALM 30 Industeinda

34.23-24.14 30 Balis

97.07 20.71 Utili

*9999*87208 401 Bands

18, High Low Closet Changs Aug.

136.54 13567 134,37 185.11 0.43 off- 27.01 26,95 38.06 0.08 off 27.04 96.85 25.20 25.04 25.20 0.15 of 70.04 off 89.31

Baxinem Done:-290,000 shares

51.09 45.59 11 Commodity Inder 47,06

Chinese Eng & Mining

(bearer) ......

Burmah

68/9

13/6

September

NY-London Cross Rate 4.88-1/8

NEW YORK STRAITS TIN

48.65/65

CLOSED

unquoted closed

Bhell Trags. * Trad.

ا از

Chosen Corporation Pekin Byndien

berter)

82/6

- Νστη

Shai Bloc: Constr. S'hal" WaterWORKE

2/8*

10 to 12

Beptember SAMAKI 9.065/098 December

9:13b/18a

NEW YORK COFFER FUTURES":

closed

Easy.

Afternoon Market

·Sterling The market closed with sellers at 1/2.19/32 August/October, 1/2. 9/16 November/January and 1/2. 17/32 February/May, buyers at 1/25/8 Cash, 1/2-19/32 December and 1/2.9/18 April.

G.S. Dollars The market closed with sellers at 28 7/18 Cash 28 3/8 first half September and 28 5/16 arst half October, buyers at 28 1/2 Dash, 28 7/16 first half September and 28 3/8 first half October.

416.

Shanghal Dollars.

Shanghai Markot

Sellers of Sterling were

at 3.15/32 for Spot. Steady.

Shanghai Exchange

Shanghai, Aug. 21 (Reuter).

Official T.T. Estes

London

New York

Japan

India ...

Paris

Hongkong

Continental Can Continental Oli Corn Products Curtiss Wright (C.) Curtiss Wright ""A" Decre & Co.

Distillers Corpri. Seagrams Douglas Aircraft Du Pont de Nemours............... Eagle Picher Lead Eaton Mfg Co. Elec. Autolite

Elec. Bond & Share

Gen. Rallway Signal

Goodrich (BF) 0/3-1/4. Goodrich $5 pt.

Open, Market-Selling® Rate

Sterling

Bellera

Closing

Opening 0/3-13/32 0/3-31/64

013-3/80/3-15/32

(German Issue)

ន· ធន

| Burma Corporation ..., 8/11

Commonwealth Mining.. Markman Investments........ 14 Randfontein Estates. 37 Western Holdings .... Bub-Nigel

1939-08-22 — Page 12

Comments

Private Research Note