Market Report
100
21 17/10
After ruling firm on the reserve of sellers and outside buying. the market closed quietly steady.
NEW YORK COTTON: Sinall Southern liquidation was absorb- ed by scattered domestic and Far Eastern interests. The weekly weather forecast in the cotton belt was unfavourable.
NEW YORK RUBBER:
The April consumption is estimated to be between 46,000 tons and 48,000tons.
CHICAGO WHEAT: Improved crop outlook is the chief factor. Exports are disappointing." There was some selling on expectation that the private estimates on Friday will be revised higher as a re- stilt of the recent rains: A leading grain expert stresses that recent rains in the Winter wheat belt supplied much needed moisture but damage done by subsequent sub-zero temperatures and the re- cent frosts is serious and irreparable.
Bell Aircraft Corp.
FRIDAY, MAY 3, 1940.
BANKS
HONGKONG & SHANGHAI THE CHARTERED BANK OF
Haiphong (Johore) Tientsin
Tokyo. New York Tsingtao
Yokohama
AGENCIES: CLIVE ST PATRZIN PLACE CANTON .." CAWNPORN CEBU COLOMBO
KARACHI ILANG
KOB KUALA
LUXFUA KUCHING "MADRIN MANILA
MEDAN
NEW YORK
PKIPING
(Peking)
TIENTSIK
TONGKAK
(Bhuket).
TSINGTAO YOKOHAMA
FOREIGN EXCHANGE and General Banking Business transacted.
CORRENT Accounts opened and FIXED DEPOSITS received for One Year or shorter periods in Local or Other Currencies at rates, which will be quoted on application.
SAVINGS ACCOUNTS also opened in Local Currency and Sterling with CURRENT ACCOUNTS opened in interest allowed at rates obtainable LOCAL CURRENCYr and Fix DirosITE on application. received for one year or shorter The Bank's Head Office in London perioda in Local and other Cur-undertakes Executor and Trustee rencies on terms which will be business, and claims recovery of quoted on application,
British Income Tax overpaid, on
******* 350
62 In
On demand
B1
On India:-
New York, May 1, 1940:
SINGAPORE RUBBER
Telegraphic
Transfer.
PAGE 10-HONGKONG DAILY PRESS
FINANCE
FOREIGN MARKETS & QUOTATIONS
MONEY AND EXCHANGE
CLOSING QUOTATIONS MAY 2, 1940
On London:
Telegraphic Transfer. 1/2 13/16 Bank Büls, en demand 1/2 13/18 Credits 4 months' sight 1 3 1/8
On Shanghai:--
On demand
On Singapore:-
On demand
On Japan
PAYNE & CO.
COMMODITY BROKERS STOCK EXCHÄNGE BUİLDİNG HONGKONG
COMMODITY MARKET REVIEW
(FROM PAYNE & CO.)
Previous May 1
Closing Opening Closing Change
Buyers Buyers
NEW YORK STOCK EXCHANGE
QUOTATION"
(REUTEN'S SERVICE)
STOCKS
Adams Express
Last Gale
MAY 2, 1940 STOCKS
BANKING CORPORATION
INDIA, AUSTRALIA
May 4
Last Sale May 1
AND CHINA
Authorised Capital....... $80,000,000
71
Kennecalt Copper
337
Alleghany Steel Co.
24
Laxey Foundry & Mac......
+ 4
Allied Stores
81
Libbey-Owens-Ford "Glass
49.
Sterling
Allis Chalmers.
34
Lockheed Aircraft
$7
Aluminium Ltd.
97)
Loew's Inc.......
341
Reserve Liability of
H.E. Currency Reserve $10,000,000 Reserve Liability of Pro-
Issued & Fully Faid-Up $20,000,000 Incorporated by Royal Charter, 1883
Reserve Funds:
Paid-Up Capital £6,500,000 Reserve Fund
£3,000,000
£3,000,000
Aner. Can
115+
Loft Incorperated
33
Proprietors
..$20,000,000"}
prietors
HEAD OFFICE: LONDON:
..£3,000,00
American Cyanamid B.
371
Mack Truck Inc.
251
Amer. & Foreign Power ...
13
Martin, Olen I
43
Amex & Foreign $7 pl.
McKesson & Robbins, prd. 271
American Gas & Elec.
36.
Monsanto Chemical
118
Head Office:-HONG KONG
Board of Directors: H. V. Wilkinson, Esq.,
Amer. Locomotive Amer. Metals Co.
10
Montgomery Ward
48
22
National Aviation
14
Hon. Mr. J. J. Paterson,
Amer. Radiator
8+
89
and demand
Ou New York:--
SPOT JULY-SEPT.
Bank Bills, on demand 2: 3/8 Credits, 60 däys' sight 29 1N
On Bataria?—
On demand....... 39 3/4
On Paris:
Bank Bills, on demand 'oss Credits 4 months' sight 1140
On Saigon:-
SPOT MAY
OCT.-DEC.
35-3/4 35-576 35-3/4 34-3/4 34-5/8 34-1/2 34.cts. 33-7/8 33-5/8
Nat, Dairy Products
171
a.
unch. off, 1/4 off 3/8
Amer. Reiling Miti
14
Nat. Distillers
241
Amer. Sting and Ring Co.
491
National Gypsum
91
Amer, Sugar Refining
21
National Lead
201
Hon. Mr. 8. H. Dodwell,
· Deputy Chairman. J. K. Bousfeld, Esq., A. H. Compton, Esq.,
Chairman.
38, Bishopsgate E.0.2. Sub-Agencies In London: 117/19, Leadenhall Street, E.C
West End Branch: 14/18, Cookspur Street, S.W.1. Manchester Branch: 52. Mosley Street, Manchester, 2.
AGENCIES AND BRANCHES:
The market was quiet. LONDON RUBBER
Amer. Tel, & Tel.
1721
Previous close Today's close
Amer. Tobacco "B"
891
Nat. Power & Light National Steel Corp.
84
G. Miskin, Esq.,
64
K. S. Morrison, Esq.,
buyers
buyers
10-15/18
11-1/18
Change up 1/8
Amer. Waterworks
91
National Supply Corp.
87
T. E. Pearce, Esq.,
Anaconda Copper
291
New York Central .....
15)
0:0. Boberta, Esq.,
Hon Mr. A. L. Shields,
ALOE STAR AMRITHAR MANGKOK MATAVIA BOMBAY CALOUTTA
HARBIN
PENAXO
FONG TONG BANGOON
Lorto (POR
10-7/8
Atchison, T. & 9, Fe.
21
| Niagara Hudson Power
51
On demand
On "Manila:-
On demand
On Bangkok:-
Bank Buying Rate
JUNE
108" 1/4
JULY-SEPT
OCT-DEC
42 3/4
On demand ....
On Sterling Notes:-
Bar Silver per oz.
11
11-1/16
up 1/18
Auburn Motors
1.
N. American Aviation
22+
Sir Vandeleur M. Grayburn,
11-1/16
11-3/18
up 1/8
Aviation Corp.
71
North American Co.
217
Chief Manager.
SAIGON
BEREMBAN
SHANGHAI
SINGAPOR
SITIAWAN
SOUHAZATA
TAIPING
11-1/16" 11-3/16"
up 1/8
Baldwin Lecometive
181...
Northern Pacific
81
Baltimore & Ohio
47
Owens-linola Glass Co.
62
Barber Asphalt Co. Barnsdall Of
15
Pacific Gas & Elec
321
Amoy
Branches: Johote
.. Rangoon
11
Pacific Lighting
44.
Bangkok Kobe
Safron
Batavia
Kowloon
San
*281
Packard Motors
31
Bendix Aviation
33
Pan-American Airways
229
Bombay Kuala
Francisco
Calcutta
Lampur
Shanghai"
1/4
Bethlehem Steel
82
Paramount Pictures
*7
Canton.
DELEI HAIPHONG HAMBURG HANKOW
London
Singapor
Bliss & Co.
181
Pennsylvania R.R.
211
Chefoo
Lyons
Boeing Airplane Co.
241
Phelps-Dodge
35
Colombo
Malacca
Sourahaya Sungef
Borg-Warner
22.
Philadelphia Read, Coal
**
Dairen
Manila
Bridgeport Brass Corp.
127
Phillips Petroleum
391
Fooches
Muar
Patani .Swatow
Briggs Mig.
221
Fittsburg Coke & Iron
8
Bankow
Mukden
Brooklyn-M'hattan Trans, Brooklyn-Manhattan $8.... Budd M'facturing Corp, Canadian Pacific R'way Case, J.I............ Celanese
23
Public Service, of NJ,
411
Harbie
107
Pallman Inc.
241
Iloilo
4
Pure O
11
Ipoh
Peiping
Penang
5%
Radio Corpn. of Am......
B+
67
Reading Company, Comm
15
34
Reading Company, 1st pia.
26
Chesapeake & Ohio Chrysler Corpn.
39.
Remington Arms Co,, Inc.
41*
844
Republic Aviation Corp.
Bi
Climax-Molybdenum Co.
30+
Republic Steel
201
Market
10.54
18.25
107 66
Prev. Today's High Low Close Close Change 10.51 10.54 10:53 .01 of 18.65 18.65 18,86 .01 up 104) 1064 104 2 CA
631 851 85 .13.66 13.49 13.72 13.52 .20 off
Colts Patent Fire-Arma Columbia Gas & Elec. Columbia 6% "A" pl. Commercial Credit Co. Com, & Southern (Ord.) Consolidated Edison Consolidated"Of Continental Can
80*
Revere Cop. & Brass Inc.
131
61
Reynold Tobac. "B"
434
881
Richfeld Ou
74
451
Safeway Stores
491
1
Schenley Distillers
139
313
Sears Roebuck
85%
74
Shell Union Off
123
451
Soceny-Vacunum Oll
107
Continental Of
23
Southern Pacific
12
Copperweld Steel
23
Southern Rly $5 pfd.
261
Opening Closing 10.79/79 10.61/81 10.52/52 10.53/54
Change
Corn Products
60
Sperry
423
.01 up
Curtiss-Wright (C.)
108
Spicer Manufacturing Co.
35
.01 off
Curtiss Wright "A"
28
Standard Brands
71
10.68/62 10.60/60
unch.
Deere & Co.
211
Stand Gas & Elec.
{
10.18/18
10.18/18
10.17/17
.10 off
Distillers Corpn. Seagrams 19
Standard Oil of California
22
10.04 N
}
9.99 N
March Spot
}"
...... 9.89/89
10.04/05 9.98b/991 9.90/89
10.04/04
10.99 N
9.99 N 9.88/88 10.96
unch.
unch.
Douglas Aircraft .....
861
Standard Ol of N.J.
421
Du Pont de Nemours
1881
Stone & Webster
91
01 off
Eagle Ficher Lead
10%
Studebaker Com,
101
.03 of
Eaton Mfg. Co.
35
Swift International
29
4
י
Elec. Autolite.
39
Technicolor
147
BANK OF EAST ASIA,
Elec. Bond & Share
67
Texas Corpn.
461
." LIMITED ·
Elec. Bond & Share $5 pt.
591
Texes Gulf Sulphur
34+
Elec. Bond & Share 6 pf.
601
Timken-Axle
201
18.97b.
18.35/38 18.15/16 18,10 N
19.12b 18.50/50
.03 up
Authorised Capital......$10,000,000,00
Elec. Power & Light $7 pf.
34
| Trans-America Co.
54
Paid-Up Capital
5,598,600.00
.02 up
Fisk Rubber
141
20th Cent, FOX
81
unch. Ench
Flatkate
184
20th Cent. Fox. $14, pf......
204
Reserve and Undivided
Proits
2,963,261.80
Gen. American Trans.
521
Union Bag & Paper Corp,
171
Total sales:---660 tons.
CHICAGO WHEAT
Gen. Electric......
36⭑
Union Carbide & Carbon
811
Gen. Motors
531
Union Pacifc
95
Head Office:-HONG KONG No. 10 Des Voeux Road, Central.
of May.
1071/107
1079/1074 1000/106) 1002/106 108/106 1064/1064
1042/1051 22 off 1041/1044 24 of 1041/1041
off
Gen. Railway Signal
17*
United Aircraft
472
Gen, Tire & Rubber.......
174
United Airlines Trans
201
Glidden Co
171
United Corpn
21
Goodrich (B.F.)
161
Tuesday's sales:--31,897,000 bushels.
United Corpn. $3 cum pf.
37*
Goodrich $5 pt.
84
United Gas Corpn.
10
1 CHICAGO CORN
Goodyear Tire & Co.........
21
United Gas Improvement 124
re- May
042/842
649/64
651/651
September
651/657
64/64 643/64+ 65/651
joft
Great Northern Iron Ore
14
U.S., Industrual Alcohol., ...
261
3 off
Great Northern Rly, pfd,
261
U.S. Rubber
302
7. of
Great Western Sugar
271
U.S. Rubber $8 pid.
991
Greyhound Corpa..
147
U.S. Steal
591
Hercules Powder Co, er
971
afternoon.
41
Sterling
May
July
"881b
904/903 921b
881/821
884/881
off
Vanadium
361
Amay
Homestake Mining.
571
90/901
off
Vultee Aircraft
10
Batavia
International Harvester
Bombar
541
911/921
off
Walworth Co.
51
Calcutta
Int Nickel
281
Haiphong
Warner Bros. Pict.
31
Hankow.
The NEW YORK HIDES
Inter. Paper & Power
19
Westinghouse Elec,
113
Munalain
* Paris
Вещаталя
Kobe
13.72/72
13.57/61
13.52/52
20 off
Int. Tel. & Tel
Pelping
34
Woodward Iron Cor.
254
14.00/00 14.265/27% 14.23/22 34-3/4
13.90/94
13.78/78
.22 of
Johns-Manville
691
Chase National Bank
331
14.06/05
.21 off
J. & Laughlin Steel 37 pfd.
63
J
National City Bank
28年
34-3/4
-bid.
3.49-5/8
FROM ROZA BROS Sliver prices rose yesterday to the extent of 3/8 for Ready and 5/16 for Forward, the quotations being 214, 16 and 215/16 respec- tively. Silver advices reported. In- dia as having bought. Offerings were small. The market Was steady but quiet. American Silver was quoted at 34.3/4 for Spot,
The Lindon/New York cross rate was quoted at 402.1/2. New York/Lendon was quoted at 349. 5/8.
Erratic.
Sterling
NEW YORK STOCKS: 147.13; Change of 1.30.
Previous close, 148.43; Today's close,
NEW YORK COMMODITY MARKET (REUTER'S SERVICE)
New York Cotton, May New York Rubber, May Business was done shortly after Chicago Wheat, May the opening at 1/2.29/32 for Cash Chicago Corn. May and May followed by transactions New York Hides. June at 1/2.7/8 for July and August.
Close The market then receded to 1/2 NEW YORK COTTON 7/8 sellers with business done at May"
10.80/81 intervals at 1/2.29/32 for Cash. July
10.54/54 The marke, closed at 1 p.m. with July (New contract). 10.60/69 sellers at
1/2.7/8 May/August October and 1/27/32 September/Decem- December ber, buyers at 1/2.29/32 Cash and January probably 12.7/8 October.
U.S. Dollars
Total sales Tuesday--33,400 bales,
First notice day for May cotton:--1/5/40 and last day 22/5/40. NEW YORK RUBBER May
Open with sellers at 21.9/18 buyers
bidding 21.11/16 with business done at 215/8 for Cash and 21.7/16- July and also June The market, closed at 1 p.m. with September sellers a; 21.9/16 for May. 21.7/16 December June and 21.3/8 July, buyers pro- January bably at 21.5/8' May, 21.9/16 June and probably 21.7/i6 July. .
Shanghai Market
Owing to the withdrawal the Exchange Control in Shang- July
somewhat September
hal, the market was
demoralised during the early part
of the morning but towards
p.m. sellers of Sterling were
ported at 3.15/32 for Spot and July
U.8. Dollars 5.1/32 for Spat.
AFTERNOON MARKET
The market was quler in the WINNIPEG WHEAT
A small business was done at October 1/1.29/32 for May delivery. market closed at
September
1/27/8 Cash/ June August and 1/2.27/32 October/ December, buyers at 1/2.29/32 Cash and probably 1/2.7/8 Nov ember...
D. S. Dollars
Business was done at 21.5/8 Lor
May delivery. The market closed
December New York Official
NY-London Cross Rate 3.50-7/8
19.00 B 18.37/37 18.15b/201 18.10 N
with seller as 21.5/8 Cash, 21.9/ STOCK EXCHANGE | LONDON METALS
16
May,
21.7/16 June
arid 21.11/18 21.3/8 July, buyers at Cash, 21.5/8 June and 21.1/2 July, Shanghai Dollars" Sellers at 425, buyers at 428.
Shanghai Market" "Sterling 3.13/32 and US. Dollars 4.31/32.
Shanghai Exchange
Shanghai, May 2 (Reuter).
Official T.T. Bates
Opening 0/3-1/4 4-11/16
Opening Closing.
London New York
Japan
20
Indla
18
Paris
2.39
Hongkong
21-3/4
Gellers
Spot
0/4-1/8 0/3-1/2
May
June
0/3-25/32
U.S. Dollars
Spot May
$5-3/32
June
0/3-15/16 0/3-3/8
$5-31/32
5-11/18
5-7/16
Market:-Steady.
Merchant Kates
Sterling, 0/3-1/4. US Dollars, 4-11/18.
4-15/16-
IRREGULAR
EXCHANGE
London, May 1 (Reuter).
TIN
LONDON,, May 2 (Router) --- The Stock Exchange was irregu- lar though the undertone was arra. Bonds of Mediterranean Governments eased on the anxie- ties concerning that region,
Gilt-edged ductuated. narrowly Standard,
and Industrial losses appeared to outnumber commodities. Shellac sellers were more willing to meet trade inquiry and consequently there was better business at lower prices seven to eight shillings: were.pald
Wall Street was easy.
LONDON GOLD
London, May 1 (Reuter). Bar Gold, Fine per oz., 188.
Silver Duty Rate
The Central Bank of China's rate on London at 10 am, today was 1/2-1/2d.
The Equalisation rate was 13 per cent.
Calcutta Exchange
Calcatta, May 1 Reuter). T.T. on Japan, 89-7/8.
E
buyers 'sellern
£- 253-1/2
Standard, Cash 253
3 months 249-3/4 250
Standard. Bet'ment Price 253-1/4- Straita
"
1539/40
1-ex div. DOW JONES AVERAGE
High Low Dow Jones Averages. Apr. 30, High Low Close Change
May 2. 1940.
155.92 121.41 30 Industrials
148.43
38.90 24.14 20 Fajla
30 68
27.70 20.70 20 Utilities
25.30
02 22 84 51 40 Bonds 65.07
89.40
45.59 11 Commodity Index 80.88
148.14 148.84 147.13 1.30 off 30.70 30.48 30.59 ... 17 off 25.03
28 off .07 of .46 off
24.82
89.33
60.20
Business Done-810,000 shares
"
Also up to date Sar_DEPOSIT terms which may be ascertained at Boxes in various sizes To Lar
any of the Agencies and Branches. Hong Kong. 28th February, 1940.
R. A. CAMIDGE,
Manager.
HONGKONG SAVINGS
BANK
The Business of the above Bank is conducted by the" HONGKONG & SHANGHAI BANKING COR- PORATION. Rules may be obtain- ed on application,
For the HoraxoNG & SHANGHAI BANKING CORPORATION.
7. M. GRAYBURN,
Chief Manager. Hong Kong, 95th Feb., 1939.
Board of Directors:
SIR SHOUBON: Quow, Chairman Li Koog Chun, Esq. Li Lan Sang. Esq. P. K. Kwok. Esq. Wong Cha Son, Esq. Wong Tan Tong, Esq. Kan Ying Po, Eng. Ohap Ching Shuk, Esq. Fung Ping Wah Eiq KAN TONG PO, Esq., Chief Manager LI TSE FONG, Esq., Manager
Branches and Agencies:- -
Ko-tioon Pening Singapore Loudes Hanroon Sonrabaja Nanita Saigon Bwałow Melbourne Ban Fran. Sydney Sagharks
ciao Tontin
Vancouver
New York Boatt's
Shanghai
THE CHASE BANK
16, 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 TEX CHABE NATIONAL BANL, NEW YORK, with Resources of are 1.8.$9,900,000,000.
D. M. BIGGAR,
Second Vice Prin
BANK OF CHINA
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE
BANK PAID-UP CAPITAL 840,000,000.00 (BRANCHES ALL OVER CHINA) Owing to our numerous Brandbes in China and connections in the principal Commercial Centres of the World, we are able to extend to our Clients special fäcilities for Domestic and Foreign Banking and Exchange.
Head Office:-SHANGHAI
Bong Kong Branch:
4, QUEEN'S ROAD, C. South Charia Offices:
Every description of Banking and Exchange business transacted. Losar granted on approved securities.
Current Accounts apened in Local Currency and Fixed Deposite re- CANTON ceived for one year or shorter periods in Local and Foreign CurSHIUCHOW.
rencies 00 terms which will be quoted on application.
SAVE DEPOSIT BOXES TO LET.
KAN TONG PO, Chief Manager.
INDO-CHINA
STEAM NAVIGATION COMPANY LTD.
............ 273-1/3 to 278-1/2 Oparating Services for Cargo and PassengersTM
SILVER MARKET
LONDON SILVER
London, May 1 (Reuter). Silver-India bought. Little offering. Business small. Market quiet but steady, In the after- noon, the market was. quietly steady.
Spot 21-7/18d... Forward, 21-5/18d.
BOMBAY SILVER
Bombay, May 1 (Rester), Market.Steady. Offitake 50 bars. Indian Mint Silver Ready.... June 3 Settlement July 3. Settlement
59-14
60-01
60-04
TO-
SWATOW, SHANGHAI, TSINGTAU, CHEFOO'
and THEN TSEN
KOBE and OSAKA
SINGAPORE PENANO and CALCUTTA SANDAKAN
HAIPHONG
All steamers berth alongside the Roosevelt Terminal in the French Concession at Shanghai, where passengers and cargo areianded
For further, partic please apply to
JARDINE MATHESON&Co.,Lrn TELEPHONE KOSILO GENERAL MANAGERS
SWATOW
KONGMOON TOISHAN
KINGOHOW
We also handle the issue of Bonds and other Public Funds of the Chinew Government both at Home and Abrad.
14
SHOU J. CHEN,
Manager.
THE KWANGTÜNG PROVINCIAL
BANK
(Incorporated in China) General Backing Facilities and Financial Agentsta The Provincial Government of Kwangtung Head Ofies-Shinkwin, Kwangiang Provizas Hongkong Branch-hawen's Bldg., & Chatar Hd, Cable Address"PROVINCIAL 2639, 1643. Telephones?
20112, 20113, 20143, 20181, 31881.. BRANCHES THROUGHOUT SOUTH CHINA Correspondents in New York and London Paid Up Capital... N$10,000,000. Beserve Capital N$10,500,000.
AUYANG MANLY.
Hongkong Manager,
Ajob?
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