1940-04-12 — Page 10

Market Report

FROM, ROZA BROS.

30 18/16

After ruling firm on outside buying, market reacted on selling against godown purchasing.

NEW YORK COTTON: Continued Southern and Spot house selling for May and July was absorbed by heavy domestic price- fixing operations and by-scattered buying. The market looks irre- gularly higher.

NEW YORK RUBBER: We would suggest switching of May contracts into September.

CHICAGO WHEAT: Continued reports of crop damage and low yields failed to dispel fears of hedge pressure and the feeling that the recent advance was too rapid. The first government estimate places the Winter crop at 426.215,000 bushels which was about ds

NEW YORK STOCKS: Previous close. 150.31; Today's close. 149.59; Change, off 72.

FRIDAY, APRIL 12, 1940.

BANKS

HONGKONG & SHANGHAI THE CHARTERED BANK OF

BANKING CORPORATION

Authorised Capital 850.000,000

INDIA, AUSTRALIA AND CHINA

Issued & Fully Pald-Up $20,000,000 Incorporated by Royal Charter, 180s

Reserve Funda:

Paid-Up Capital £6,500,000 Reserve Fund

£3,000,000

..£3,000,000

£3,000,000

HEAD OFFICE: LONDON:

H.K. Currency Reserve $10,000,000 Reserve Liability of Pro- Reserve Liability of

prietors

Sir Vandeleur M. Grayburn,

Chief Manager.

Patani Swatow

(Johore) Tientsin Mukden Tokyo New York Tsingtao Peiping Yokohama

350

COMMODITY

MARKET

PAGE 10-HONGKONG DAILY PRESS

FINANCE

FOREIGN MARKETS & QUOTATIONS

MONEY AND EXCHANGE

CLOSING QUOTATIONS

APRIL 11, 1940.

On London. ---

Telegraphic Transfer. 13/16 Bank Bills, en demand 1/2 13/16 Credits 4 months' sight : 3 1/8 On Shanghai:...

On demand

On Singapore:-

PAYNE & CO.

COMMODITY BROKERS STOCK EXCHANGE BUILDING

HONGKONG

NEW YORK STOCK EXCHANGE

STOCKS

Adams Express

QUOTATION

(REUTER'S SERVICE)

APRIL 11, 1910 STOCKS

Lakey Foundry & Mac, Libbey-Owens-Ford

Last Sale

Apr. 10

71

Alleghany Steel Co.

231

Last Sale Apr. 10

Glass 503

Sterling

Allied Stores

81

Lockheed Aircraft

371

Allis Chalmers

16

Loew's Inc. ......

35

Proprietors.....g

..$20,000,000

REVIEW

Aluminium Ltd.

104

Loft Incorperated

381

Amer. Can

115

Mack Truck Inc.

Head Office:-"HONG KONG

ary

On demand'

52 1/9

(FROM PAYNE & CO.)

American Cyanamid B

39

Martin, Glen L

147

On Japan:-

On demand

01

SINGAPORE RUBBER

On India:

NEW YORK, APRIL 10, 1940 Previous · April 10 Closing Opening Closing

Amer. & Foreign Power Amer

17

McKesson & Robbins, pfd. 271

& Foreign $7 pt.

251

Board of Directors: H. V. Wilkinson, Esq.,

Monsante Chemical

1141

American Gas & Elec.......

381

Telegraphic

Transfer:

Change

Montgomery Ward

5-41

Amer. Locomotive

201

82 1/4

Buyers

Buyers

National Aviation

15

and demand

Amer, Metals Co.

Chairman. Hon. Mr. J. J, Paterson,

Deputy Chairman.

SPOT

35-3/8

38 cts.

36 cts.

up 578

***

23

Nat, Dairy Products

17+

On New York:-

Amer. Radiátor

Bank Bills, on demand 21 3/ Credits: 60 days”, sight 22 1/4

JULY-SEPT.

34-1/8

34-7/8

35 ets.

up 7/8

et

Nat. Distillers

261

Amer. Rolling Mi

161

OCT.-DEC.

ནགཝཱཝཱ ཝིཝནཏྭཱཏོན

33-5/8

34-3/8

34-5/8

up 1 ct

National Gypsum

J. E. Bousfield, Esq.," A. H. Compton, Esq.,

101

Hon. Mr. 8. H. Dodwell,

Amer. 9'ting and 'ing Co.

53

National Lead

On Batavia:-

On demand

On Paris:---

30 5 S

The market was quiet but steady... LONDON RUBBKṚ

22

G. Miskin, Esq.,

Previous close Today's close

Amer. Sugar Refining

21

Nat, Power & Light

Buyers

Buyers

Change

Amer, Tel, & Tel.

174

National Steel Corp.

Amer. Tobacco "B" "

Bank Bills, on demand oss

Credits. 4 months' sight 1140.

SPOT

11-1/16

11-3/15

up 1/8

.90%

National Supply Corp.

5. S. Morrison, Esq.,

T. E. Pearce, Esq.,

C. O. Roberta, Esq.,

Amer. Waterworks

101

MAY

11-1/8

11-3/16

up-1/18

New York Central

17)

Hon. Mr. A L. Shields,

On Saigon:

On demand

Op Manila:-

JUNE

11-1/8

11-3/16

up 1/16

Anaconda Copper

311

Niagara Hudson Power

51

FOR LA

JULY-SEPT.

11-1/8

11-1/8

unch

Atchison, T. & 8, Fe.

23

N. American Aviation

24/

Auburn Motors

1}"

North American Co.

:

OCT.-DEC.

11-1719

11-1/16

unch.

221

Aviation Corp.

7A

On demand

On Bangkok:-

On demand........

42 3/4

hedge-

Northern Pacific

81

Branches:

Baltimore & Ohio

51

Owens-Ilinois Glass Co....

62

Amoy

Johore

Barber Asphalt Co.

13

Pacific Gas & Elec

337

Bangkok

Kobe

150

Barnsdall ou

114

Pactic Lighting

47

Batavia

Kowica

Rangoon Saigon San

On Sterling Notes:

Bendix Aviation

344

Packard Motors

32

Bembay

Kuala

Bank Buying Rate

1/4

Bethlehem Steel

"811

Pan-American Airways

23

Calcutta

Lumpur

Francisco" Shanghai

Canton

Bar Silver per oz.

Bliss & Co.

187

London

Paramount Pictures

74

Chefoo

Lyons

Boeing Airplane Co.

261"

Pennsylvania R.R.

22

Colombo

Malacca

Borg-Warner

Singapore Sourabaya Sungei

237

Phelps-Dodge

+382

Dairea

Manila

Bridgeport Brass Corp.

121

Phillips Petroleum

39

Foochow

Muar

Briggs Mig.

221

Pittsburg Coke & Iron

Haiphong

Brooklyn-M'hattan Trans.

231.

Public Service of NJ.

42]

Banko

Brooklyn-Manhattan $5.

100

Pullman Inc.

Harbin

263

Canadian Pacific R'way Case, JI.

5$

Toile

Pure ou

10

705

Radio Corp. of Am.

Ipoh

Penang

Bi

Celanese

327

Reading Company,

Com

1541

Chesapeake & Ohio

40

Reading Company, 1st pfd

268

Chrysler Corpn.

871

Remington Arms Co., Inc.

41.

Climax-Molybdenum Co...

391

Republic Aviation Corp.

63

Colts Patent Fire-Arms

79

Republic Steel

22

*

Columbia Gas & Elec.

63

Revere Cop. & Brass Inc.

134

Columbia 8%. “A” pl. ----

02

Reynold Tobac, "B"

42A

New York Cotton, May New York Rubber, May Chicago Wheat, May Chicago Corn, May New York Hides. June NEW YORK COTTON

18.98

1077

13.56 106 591 577 14.17 14.00

up 18,82 18.66 .18 off 107 1084 1,1 Off

58. 583

up 14.12 14.03

Commercial Credit Co.

461

Richfield Of

71

Com, & Southern (Ord.)

13.

Safeway Stores

513

Consolidated Edison

31

Schenley Distillers

13

Consolidated 01

73

Sears Roebuck

851

Close

Opening

Closing

10.72/72

10.72/72

10.73/73

10.48/48

10.48/48

10.48/48

10.63/53

10.64/64

10.62/62

.09 .off Change

.01 up

.unch.

01. off

Continental Can

48+

Shell Union Oil

121

Continental Of

23

Socony-Vacunum Oll

111

Copperpreld Steel

221

Southern Pacific

131

Corn Products

61

Southern Rly $5 pfd.

277

Curtiss Wright (C.)

101

Sperry

451

"9.98/98

9.95/96

*9.96/96

02 off

++

Curtiss Wright "A"

281

spicer Manufacturing Co. 36

December ( }

9.84/85

9.84/84

9.84/84

unch...

Deere & Co.

*221

Standard Brands

74

January

9.80 N

9.80/80

9.81/81

.01 up

Distillers Corpn. Seagrams

181

Stand Gas & Elec.

17

March Spot

9.72/72

9.72/72

9.71/72

.01 off

Douglas Aircraft

87

Standard Of of California

23+

10.03 N

10.92 N

"01 off

Du Pont de Nemours.

1831

Standard Oll of N.J.

421

Eagle Picher Lead

113

Stone & Webster

91

Eaton Mfg. Co.

351

Studebaker Com

111

Elec, Autolite

391

Hong Kong, 25th Feb., 1939,

Swift International

301

13.82/84

18.90/98

18.66/67"

16 off

Elec. Bond & Share ........

67

Technicolor

15

18.32/32

18.45/47

18.25/25

.07 off

Elec. Bond & Share $5 pf.

604*

Texas Corpn.

481

18/12/15

18.24/24

18.01/05

17,90/90

17.86/87

11 of Elec. Bond & Share 56 pi 04 of Mec., Power & Light $7 pf.

673

BANK OF EAST ASIA,

Texes Gulf Sulphur

341

323

Timken-Axle

237

17.88 N

17.84 N

04 off Fisk Rubber

......

15

Trans-America Co.

Total sales:-1,710 tons. CHICAGO WHEAT

Flintkote

197

20th Cent. Fox.

101

Gen, American Trans.

53.

May.

July September

1073/1073 107/107 .... 1071/1071 100/1001

1071/107 108/106)

1067/1061 1061/1061

1

off Ger. Electric

39%

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

22}

Union Carbide & Carbon

83

1 of

Gen. Motors

544

Union Pacific

97

1061/100

1 off

Gen. Railway Signal

163

United Aireraft

48

Gen. Tire & Rubber

194

United Airlines Trans

213

Glidden Co.

177

United Corpn.

24

September

58/58 591/591 602/601

571/58

583/581

1 up

Goodrich (B.F.)

181

United Corpn. $3 cum pt.

40

601/502

up

Goodrich $5 p1.

871

United Gas Corpn.

11

817/614

מטי 3

Goodyear Tire & Co.

*23

United Gas Improvement

12

WINNIPEG WHEAT

Great Northern Iron Ore..

151

US., Industrual Alcohol,

241

901/901 901/901

891/891

1

off

Great Northern Rly, pfd,

258

0.8. Rubber

351

July

911/912

901/91

I off

Great Western Sarar

271

US. Rubber $8 prd,

1181

Sterling

October

931/931

921/92

i off

Greyhound Corpn.

16

U.S. Steel

612

23

NEW YORK HIDES June

Hercules Powder Co,

961

Vanadium

364

14.12/17

14.05/00 14.28/35

14.03/08 14.32/36 34-3/4 3.49-1/2

.00 off

Homestake Mining

571

Vultee Aircraft

101

.10 off international Harvester

55

Walworth On.

54

A303

Int Nickel

322

Habara

Koreioan

Loudow

Pening

Напрос

Warner Bros, Pict.

31

Bombay

Int. Tel, & Tel.

34

| Westinghouse. Bec,

113

Johns-Manville

714

Woodward "Iron Cor.

4

27

Bankow

J. & Laughila Steel $7 pid. 66 Kennecott Copper

Chase National Bank

342*

Honolulu

bearing

Kobe

378

National City Bank

291*

-bid.

Silver price, rose yesterday to the extent of 7/18 for Ready and 3/8 for Forward, the quotations ¦ expected. being 20.15/16 and 20.7/8 respec tively. Silver advices reported speculators as having bought to a small extent. The market was steady closing with sellers at the quoted rate. American Silver was quoted at 34.3/4 for Spot.

The London New York cross- rate was quoted at 402.1/2 New York/London was quoted at 349.

1/2

Quiet,

Market

Sterling

There were sellers at 1/2.7/8 May "April/August" and 1/2.27/32 Sep-July

NEW YORK

tember/December, probably Jan-July New contract) uary, buyers at 1/2.29/32 Cash October and 1/37/8 September.

C. S. Dollars

A small businesss was done dur- ing the early part of the morning at 21.3/4 for April. The market closed at 1 p.m. with sellers at 21.11/16 Cash, 21.5/8 "April 21.9/ 16 May and 21.1/2 July, buyers at 21.3/4 for Cash. 21,11/18 first half May. 21.518 June and 21.9/18. July.

Shanghai Dollars. Opened with sellers at 360 with! business done subsequently at 360. 1/2 At 1. p.m. there were sellers at 301.

Shanghal Market

COMMODITY MARKET (REUTER'S SERVICË)

Prev. Today's

High Low Close Close Change 10.73 10.68 10.72 10.73 .01

Total sales Tuesday:-99,400 bales.

First notice day for cctton:-1/5/40 and last day 22/5/40. NEW YORK RUBBER May July September

December January

Tuesday's sales:--59,872,000 bushels,

Sterling business was cone at CHICAGO CORN 4.1/8 for Spot. US. Dollars open- May

ed with sellers at 6.1/32 but later July eased off to 5.31/32 for Spot.

AFTERNOON MARKET

The market was quiet in the May afternoon.

The market closed with sellers

at 1/27/8 April/August and 1/2

27/32 September/December, pro- September bably January, buyers at 1/2.29/ New York Official

32 Cash and 1/2.7/8 September.

U. S. Dollars

The market closed with sellers at 21,5/8 April, 21.9/16 May and 21,1/2 June, buyers at 21.3/4 Cash.

21.11/16 first half May, 21.5/8 first half June and 21.9/16 July.

Shanghai Dollars Sellers at 360, buyer's probably

at 360.1/2...

Shanghai Market

Sterling at 4.1/8 and U.S. Dollars at 5.31/32 for Spot.

Shanghai Exchange

Shanghai. Apr. 11 (Reuter)

Official T.T. Rates

London

New York

Japan

India

Paris

Hongkong

Opening

0/4"

5-3/4

24-1/2

22-1/8

2.94 26-374 Keller

Opening Closing 0/4-1/8 0/4-1/8

0/4-1/16 -0/4-5/64

0/3-31/32 0/3-03/04

$4

Spot

Apr.

May

U.S. Dollars

Spot

Apr.

5-29/32

May

5-3/4

$6

5-29/32 5-374

Market: Quiet but steady.

"Merchant Rates

Sterling, 0/4-3/32

US Dollars, $5-15/16.

Sliver Daty Rate

The Central Bank of China's rate on London at 10 am, today was 1/2-1/2,

The Equalisation rate was 10-1/4;

per cent.

-14.42/47 34-3/4 NY-London Cross Rate 3.48-1/8".

RESERVE BANK OF INDIA STATEMENT

was

STOCK MARKET BRIGHT

Calcutta, Apr. 10 (Reuter). LONDON. April 11 (Reuter)— Mar. 27 Apr. 3 The Stock Exchange was distinct- Notes in circulation

ly brighter at the close after a (including Notes"

dull opening. The best feature neld in the Bank-

the Eastern demand for ing Department)... 25,221 25,152 Indian irons and steel of the Rupee Coin and Bul-

Bengal and Burma Corporation tan in India 5.594

5535 ses

all of which advanced. Gold Coin and Bul-

Wall Street was irregular. lion in India. 4,154 4.154 Securities (Indian

Government)' 3,835 3.835 Securities (-British

Government)

11,350 11,350

LONDON METALS

EXCHANGE

London, Apr. 10 Reuter).

TIN

SILVER MARKET

LONDON SILVER

London, Apr. 10 Reuter)...

Silver: Prices rose on scarcity

1930/40

1-ex, div. DOW JONES AVERAGE

High Low Dow Jones Averages.

155.92.19141 30 Industrials

35,00 24.14 20 Rails 87.70 20.70 20 Utilities

Apr. 9, 150.31

31.42. 36.28

Apr. 11, 1940. High Low Close Change 180.65 149.12 148.58 31.3631.05 31.20 25.25 25.01 20.09

39.22 84.51. 40 Bonds

80.35

03.07 45.59 11 Commodity Index 60.25

Business Done-1,290,000 shares

.73 off .2% off .19 off 89.15 .20 off €0.07 .18 of

CURRENT ACCOUNTS

38, Bishopagato E.C.2

Sub-Agencies In. London: 117/12, Leadenhall Street, E.C.1 West End Branch: 14/16, Cockapur Street, S.W.1. Manchester Branch: 59, Mosley Street, Manchester, s.

'AGENCIES AND BRANCHES: ALOR STAR HABBIN

PANANG AMRITSAR HONG KONG LANGOON BANGKOK BATAVIA BOMBAY

CALOUTTA

AGENCIES: KOES

CLAY STEIZT

PAIRSIK PLACE

CANTON

CAWNPOES CEBU COLUMBO

DELHI

HAIPHONG HAMBURG HANKOW

KUALA

ILOILO IPOZ

BAIGON

SEREMBAN

KARACHI KLANG

SHANGHAI

SINGAPORE

SITIAWAN

SOURAMAYA

LUMPUR

TAIPING

KUCHING

TIENTEIN

MADRAS

TONGKAN

MANILA

(Bhuket)

MEDAN

TSINGTAO

NEW YORK PRIPING #

(Peking)

TOKOHAMA

"FOREIGN EXCHANGE and General Banking Business transacted.

CURRENT Accocare opened and FIXED DEPOSITS received for Ons Fear or shorter periods in Local or Other Currencies at rates which " will be quoted on application.

SAVINGS ACCOUNTS also opened in Local Currency and Starling with opened in interest allowed at rates obtainable

LOCAL CURRENCY and Fixed DepoBITS DB application. "'~ received for one year or shorter The Bank's Head Office in London periods in Local and other Car- undertakes Executor and Trustes. rencies on terms which will be business, and claims recovery of quoted on application.

British Income Tax overpaid, on

Also up to date SA DEPOSIT terms which may be ascertained at Roxx in various sites To LET any of the Agencies and Branches. Hong Kong, 28th February; 1940,

R. A. CAMIDGE,

Manager.

HONGKONG SAVINGS

BANK

The Business of the above Baak, is conducted by the HONGKONG SHANGHAI BANKING COR- PORATION. Rules may be obtain- ed on application.

For the HoNGKONG & SHANGHAI BANKING CORPORATION.

V. M. GRAYBURN,

Chief Manager

LIMITED

Authorised Capital.....$10,000,000.00 Paid-Up Capital 5,598,600.00 Reserve and Undivided

Profits

2,883,931.01

Head Office:-HONG KONG No. 10 Des Voeux Road, Central

Board of Directors:

Sir Bhonson Chow, Chairmas

Li Koon Chan, Eg Li Lan Sang, Esq. P. K. Kwok, Esq. Wong Cha Son, Esq. Wong Yan Tong, Esq. Kin Ying Po, Rag. Chan Ching Shok, Beq. Fung Plag Wah Esq Kan Toug Po, Esq., Chief Manager. Li Tee Fong, Esq., Manager

Calopita

Branches and Agencias:-

Haiphong

Marila

Singapore Bourabaya

Salien Bwatom

Malbourne Barn Byday

Nagasakan olaco Timotein

New York" Bestüle Paria

Pelping Shorta

Every description of Banking and Exchange business transacted. Loans granted on approved securities.

Current Accounts opened in Local Currency and Fixed Deposite ceived for one year or shorter periods in Local and Foreign Cur- rencies ob terms which will be quoted on application.

SAFE DEPOSIT BOXES TO LIT.

KAN TONG PO,"

Chief Manager.

THE CHASE BANK

13, QUEEN'S ROAD, CENTRAL

HEAD OFFICE:

.....

18, PINE STREET,

NEW YORK. An American Bank offering com

plete Foreign Banking Service in the principal Markets of the world. Interest Rates on Application.

SAFE DEPOSIT BOXES

This Bank is entirely owned by

THE CHABE NATIONAL BANK New Youx, with Besources of OTHE 1.8.$2,900,000,000.

D. M. BIGGAE,

Second Pics Pre

BANK OF CHINA

+

Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE

BANK

PAID-UP CAPITAL $40,000,000.0 (BRANCHES ALL OVER CHINA) Owing to our numerous Branches in China and connections in the principal Commercial Centres of the World, we are able to extend a our Clients' special facilities for Domestic and Foreign Banking and Exchange.

Head Office:SHANGHAI Hong Kong Branch:

4, QUEEN'S ROAD, C. South China Officea:

CANTON SWATOW BRUCHOW

KONGMOON TOISHAN KINGCHOW

We also handle the issue of Bonds and other Public Funds of the Chinese Government both at Home and Abroad.

SHOU J. CHEN,

• Manager.

THE KWANGTUNG PROVINCIAL

INDO-CHINA—————

of offerings. Litle speculative EAM NAVIGATION COMPANY

buying. Business small, Market

steady. In the afternoon, after Operating Services for Cargo and Passengers

small business at the rate, market

buyers

sellers 起

closed dull with sellers at the rate

TO

but buyers reserved.

8pot, 20-15/18d."

Standard, Casm 252-1/4 252-1/2 Standard,

250-1/4

3 months 250

India Rupee Paper

Bombay, Apr. 10 (Reuter). Govt. 33% Rupee) 03-08-0.

New York Exchange

New York, Apr. 10 (Reuter)." TT. on London (Opening Rate),

3.48

Calcutta Exchange

Calcutta, Apr. 10 (Reuter).

T.T. on Japan, 91-1/4.

Forward, 20-7/84.

BOMBAY SILVER

Bombay, Apr. 10 (Reuter). Market Quiet Offtake 50 bars.

Indian Mint Silver

Ready

58-01 May. 1 Settlement ..... 50-02 June 3 Bettlement

53-06

NEW YORK SILVER New York, Apr. 10 (Reuter). Silver. Omicial, 34-3/4.

LONDON GOLD

London, Apr. 10 Router). Bar Gold, Fine per ca. 168.--

SWATOW, SHANGHAI, TSINGTAU, CHEFOO

and TIENTSIN

KOBE and OBAKA.

SINGAPORE, PENANG and CALCUTTA

SANDAKAN

HAIPHONG

All steamers berth alongside the Roosevelt Terminal in the French Concession at Shanghai, where passengeri and cargo are landed.

For further particulars

please apply to

JARDINE MATHESON&Co.,LTD. TELFENONEOZDZIE GENERAL MANAGERS.

[Incorporated in China)·

Goteral Banking Facilities and Financial Agents to The Provincial Government of Kwangtang Head Office--82inkwan, Kwangtong Province Hongkong Reseh-Queen' Bldg., Chard. Cable Addresses-"FAGYLAQIAL" 2639, 9443. Telephones:

20112, 20113, 20143, 20181, 31651. BRANCHES THROUGHOUT

SOUTH "CHINA ZA Correspondents to New York and London Paid Up Capital....... N$10,000,000.

Reserve Capital

N$10,500,000.

AUYANG MANLY,

Hongkong Kanager,

A Job?

WANT

ADSA