1913-10-28 — Page 11

CommercialTM

THE RUBBER SLUMP.

THE HONGKONG TELEGRAPH, TUESDAY. OCTOBER 28, 1913.

Banks

INTERNATIONAL BANKING

CORPORATION.

Ho, Wall Street, Nsw York. debora

humbs Lachta

Col

ரேடிக

Jonjora

RANCHES

Tex sextann nnplay,

Banks

HONGKONG & SHANGHAI TIT

Selling.

Exchange

T/T. Marks

........................ £/11 11/16 | TIT. France...

................................1/11-3/4n. Haiphong.......................1 1/4°

1/11 13/16 On Saigon

202 74934

Mexico,

Peking

BANKING CORPORA-Domand

TION.

60 0% Paid-up Capital.........$15,000.00 - 4 m/s

RESERVE FUNDS:

pm.

h.........................1 % pm

1/11 7/8 On Bangkok

Buying.

TT Shanghai

72 5/84 m/s. 110

T/T Singapore

Private 30 d/s sight S'hai 73 1/2 6'm/L/C

..............2/-5/16: ............2/- 7/16 .2/-1/2

San Francisco

Shaoznal

Sterling

T/T Japan

Yokoham

TTIndia

Gold

TT Bombay

......1474 m/s. Marks"

Demand Bombay

147 1/4 4 m/s. Francs

T/T Caloutta

1476 m/s. do

Demand Calcutta

147 1/4

Demand Manila

OMBAY TO 20 KI TIUN UF BANKING BUSI NESS bankda had TE

CURRENT ACCOUNTS zpsbed on the man

..

The course of the raw rubbered manufacturere would willingly, market has brought up the quee-pay that price, but if stocks ac- tion of costs to the various com-cumulated and they were thrown panies concerned, These differ on the market, would not the Inat widely, as it is obvious they must phase be worse than the first? At do, baving a regard to the differe-presont all supplies were taken a The following observations on the slump in rubber appeared in ncos in age and circumstances of they came forward, and in his each undertaking. Some of the opinion that was the bealthiest the Economist of September 20:-

companies do not publish their feature of the position. The rait- Amongst the causes making for all in costs, bat give ouly theter was being very carefully cun- the lack of business in the Stookfo.b. (free on board) figuras, and sidered, and meetings were held Exchange must certainly be nama ayetom of standardising ac-every ten days or every fortnight bered the collapse of the rubber counts which will enable a com- to discuss the position and a

Replyin boom, which has caught thous parizon to be made between what could be dono. anda of people who in the charges is one of those reforms to questions, hë ́stated, that sli- ordinary way would have bad which it may be hoped will grow generat opinion of the seRociation money to play with, but who out of the present desolation in was that the auctions should be tied an applikation

lightened—ikat private ratbar lost this through the deflation in share prices.

It does not necessarily follow than public "deals" were better 1910. The inevitable corollary to any Stock Exchange boom is a that those companies whose costs The directors thought that the long aftermath of depression as &are lowest are the beat to take an final call on the shares of the direct result of the loses sustain interest in at the praeout time. Company would be made ed by the public in the subse It is a fair argument that, the February 1 next! quent collapse; and the bundrede higher costs stand the more room of thousands of pounds poured exists for economies; while in the into the plantation rubber in cases where the, figures are al- dustry by the British public are raidy low, there may not be much represented by huge stacks of further scope for cutting down paper certificates, the depreciation operations, This, by the way, is on which, reckoned from the prices at which the public got in, will serve as a painful lesson until the next boom-from what ever quarter it may spring up comes along.

M

Busy Journalist and the Politician. The Editor of the Westminster Gazette, in one of his rare personsi allusions, says in" a "leading

(MY PORETS, KAČIMANIAN, Skund, lar, own per d

i nug, ur ist sharter perioda, ši Imben, welch BILL NOTIATED and COLLECTED. NAIL 4311, TELEGRAPHIC REMITTANTES BETTERN OF CREDIT MADRAFTS enoted THE BANK CIRCULAR, Erters of

principe eller in the Work

£1,500,000 at 2/-

$15,000,000

Silver 17,450,000

ore sefable all over the World, COMMERCIAL LETTERS OF CRBUrRearove Liability of

PURCHASE and KALK el Stocks, and Sharea

KALER CHICKA Sold and cashed.

GEORGE HOGG,

Alanger. *, Buana's Road, isongaut Hagkoog, 18 Nov, 2

THE

LIMITED.

Established 1880.

Authorised Capital Yen 48,000,000 Paid-up Capitul... .30,000,000 Reserve, Fund 18,550,000

Head Office.-YOKOHAMA,

Branichuk

Agencies at Nagasaki Nowchwank New York Onaka Pakin Ryoiun Port (Arthur)

an example of the difficulties that article:Wo remember some OKOHAMA SPECIE BANK, seem to surround every attempt years ago noticing that n, well- to draw inferences in connection known statesinen (happily still with this market, for the enquirer in the fighting line seemed in foiled at all points by cross-cut rather dopressed, aut the the rants of contradictory character. pression was an obvious that we From mere dullness and deprae- What stands out plainly, however, took the liberty asking liim Hion the rubber share market hina, is the very obvious fact that florin the reason for it.. It turned our sunk into flatness this week, the rubber is not going to pay big that what was worrying him was prinsipal cause being a fresh dividends to the companies that he has to make specch at slant in the price of the corn gaged in its production; and all(ll we say?) Trowbridge on Antung-Haien

has kinds of remedies are being sug Thuraday week Rubber itself

We remember Bombay modity.

Calcutta fallen to about 28. por 1b.gested to brace up the price of with some satisfaction that we

Changchun Even the pessimists of the the raw material to some more cheered him up considerably by

Dairon pet contened themselves with antisfactory level, "Hundreds of contesting his tot, horrible is it

Fongtien Hiraphoaying half a crow a rubber sollers and a handful of buyers" seemed to him, with that of the Harbin that the stuff, would fall to a is a description which defines the journalist who every coular Hankow florin was scarcely thought of, al- position in a phrase. Until the morning or groning has to stand Honolulu though it is oddly coincident sellers are able to form some kind and deliver and to pronounce on Kobe with the nominal value of the of combination amongst them-! shares in dozens of rubber com-selves they are not likely to effection without the period of Liao-Yang

incubation possible in the case of London panies. To grow rubber at a much in the way of raising the the politicias, florin a pound obviously will not price of their goods in the face pay, except in circumstances com- of demand that is simply normal; paratively favoured, Hard fine and they should be spurred to Para holds its price at 36, 7d. per setion by the knowledge that, Ib. with a steadiness that is as heavy as the increase in produc: Public Companies periods at rates to be obtained on amazing as it is exasperating to tion has been this year, it will be those who are interested in the

still

greater, in 1914, The

Company, Limited.

FROM this date. and until

further notice Mr. Sydney

cultivated product. At the be Malace Company, whose costs NORTH CHINA INSURANCE ginning of this year the price of appear to be at least 1. 9d. in plantation rubber was 4. 6d. per spite of its giant production, has ib, while the Para stood at 4s. 7d. come forward holly with a de The latter has fallen le, while the finite scheme for the initiation of other has gone down 2. 6 Central Selling Agency, and Taken over un average of years, this had the effect of making the disparity is equally surpris-the shore market rather better. ing. From 1905 to 1912, inclu-low the idea will be taken up aive, the average price of hard by other companies is 'n matler' Ane Para works out at 5. jd thus will be watched with keen nar lb, while that of plantation is interest.

5a. 1048. per lb. Taking the firet

eight months of the present year

that is to say, from January 2

to September 2-the average price

Tea,

Messrs. Wm. Jas. and Hy,

of Para is 38. 1014, against an Thompson's circular for the week average of 38. 51d. per lb, for the ended October 2 contains the plantation variety, although this following with reference to the latter figure will, of course, be China tea market in Loudou modified to some extent by the Arrivals: Hitachi Maru with 11,- slump that has occurred since the 498 pkgs., Simla with 0,307 pkgs. beginning of this month.

and 1.372 in transit, and Lye on

Rubber statistics are easy to with 422 pkge, and 3526 pkgs collate, bat she variety of deduc-ia transit. Privately, the market tions which can be drawn from is quiet, and little trade han passi them is remarkable. Speaking ad during the week.-North Ching broadly, however, it must be said Daily News

that the statistical position showa

that there is no special occumula- tion of stocks in the hands of the

Rubber Market Schemes.

J. Chinchen will be in charge of the Hongkong Branch of the, above Company.

By order of the Court of Directors,

EL KRAUSS, Hongkong, 7th Oct;, 1913.

4

Natices

Agents.

UNIVERSITY OF HONGKONG

San FranciscO Shanghai Tiehling Tientsin".

$32.450,000

Proprietors..........$15,000,000

COURT OF DIRECTORS.

.84 3/8 4 m/e. D/P

9630 d/a.3'nay & Melbourne 9/16. 147 30 à 8. San Foo & New York. 481

147 1/4 Barsilver, ready

.. forward

Demand India ************* 97 Gold Leaf per tael.

TT. San Fc & New York 47 7/8 Bank of England rate......5%. T/T. Java 119:1/2 | Sovereign

T

Subsidiary Coins. Discount per $100

Chinese...20 ote.pieces $81%.%

$8 3/4-

$64

8. H. Dodwell, Esq., Chairman. Chinese....10 Hen. Mr. D. Landale, Deputy

Chairman.

G. Friesland, Esq. E. Goetz, Esq.

08. Gubbay, Esq.

."

P. H. Holyoak, Esq.

G. R. Laurenz, Esq.

W. L. Pattenden, Esq.

J. A. Plummer, Esq. Hon. Mr. E. Shellim, H. A. Sieba, Esq. CHIEF MANAGER: Hongkong-N. J. Stabb. MANAGER.

Shanghai-A. G.Stephen. London Bankers-London County and Westminster

· Limited, '

Hongkong-Interest Allowed.

On Current Account at the rate of 2 per cent. per Annum on the daily balance

Hongkong.20 Hongkong.10

$8 5/8

י

.207 1/2

.....2.55

.2.57

.27 13/16 2711/16

Opium Quotation.

Malwa, Now

Malwa, Old

$10.0

Oct 24. $4.800 perpic.

4,700

Patna, New

5,825 per che.

Patna, Old.

5,700

Benares, New Benares, Old.

5,525

5,350

SHARE REPORT.

S-SALLERS

-Sepce & PAID UP VALGE BANKS

SA-SALE

CLOFENA QIGNE

$790 b.

Hongkong & Shai 3125-

£80

MAKINE INSURANCES

Cantons

$50

345

North China

£5 T137)

Union

Yangtzes

$100, $800 b.

FIRE INSURANCES.

China Fires Hongkong Fires

SHIPPING:

China & Manilas

£50 $195

BUYER

Lair DivineND AND DATE,

£3 at ex 1/156 equal tò)

$20.31 for 16 year ending 30/6/13..

#18 for 191

Final of 1p.c, making

p.c..for 1911

Final of $20 making $50 for 1911 and Interim of $30 for 1912 Final of 12mak. $15 for} 1911 & Int, of83 for 19121

$10 for 1911

420 8155 b..

850 3377 b.

827 for 1911

$251875 b.

Douglas Steamship $50 $33 8.

$1 for 1906.

$2.50 for year end'g 30'6'13. Interim of $1 for half} year ending 30°6′13′′ } (6 pic. for year 1912 on preferred shares

ON FIXED DEPOSITS.

་

Steamboats

$15 $2814

For 3 months. 2 per cent

Annum.

per

Indo-Chinas

Tokyo

For 6 months. 3 per cent

par

(Preferred)

Los Angeles

Annum.

(Deferred)

}

£5 $89

For 12 months, 4 per cent per].

103/6

Apnum,

"Shell" Transports £1

N. J. STABB. Chief Manager

£11

{ $10 $58

b.

#1 on 10,000

REFINERIES.

7

Lyona

Interest Allowed on Current Account. Deposits received for fred

application.

EISHI ONO,

Manager.

Hongkong, 30th Sept,, 1913. (18

THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA.

Incorporated by Royal Charter 1853:

X

HONGKONG SAVINGS BANK "Star Ferry" THE Business of the above

Bank is conducted by the China Sugars $100 $97 HONGKONG AND SHANGHAI Luzon Sugars $100 $35

MINING BANKING CORPORATION.

Rules may be obtained on a Chinese Engineerings £132/6 plication.

£1 46/3 Tronche Raubs DOCES, WHALVES, ■ O'DOWNE Kowloon Wharfs $50 887

INTEREST on deposite is al2 lowed on the minimum monthly balances at $3 Per Cont: per a

num.

Depositors may transfer at their HEAD OFFICE-LONDON.

option balances of $100 or more Paid-up Capital £1,200,000 to the Hongkong and Shanghai Reserve Fund.... ........ £1,700,000 Bank to be placed on FIXED Reserve Liability of

DEPOSIT Per Cont. per .£1,200,000 Propiletors

FOREIGN EXCHANGE, and General Banking business trans- acted.

CURRENT ACCOUNTS open.

annual

For the Hongkong and Shang hai. Banking Corporation,

N.J. STABB, Chief Manager.

Capital Fully

BANK.

ed and FIXED DEPOSITS re-EUTSCH ASIATISCHE ceived for 1 year or shorter periods: Matriculation Examination.

at rates which will be quoted on application.

A: 8: HEWETT, NOTICE is hereby given that Mattipulation Examinations

Acting Manager. will be held on the following Hongkong, 11th April, 1912. (22

steg-

December 15th-20th 1913. July 13th-18th 1914.

Notices

Paid-up...Sh. Taols 7,500.00 Head Office.-Shanghai. Buard of Directors-Berlin.

Branches: Berlin Caloutta Cantor Hamburg Hankow Kobe

Singapore Tientain Poking' Tainanfu Tsingtau Yokohama. LONDON BANKERS: Mesars. N. M. Rothschil, & Sons. The Union of London and Smith's Bank, Limited. Loans on Mortgage of House Pro-Deutsche Bank (Berlin), London

Candidates must send in, their names to the Registrar, with the THE fee, not later than one month hefore, the date of the Examina- tion.

Examination Fee 310.00(Hong

THE REGISTRAR,

The University of Hongkong.

CHINA PROVIDENT LOAN AND MORTGAGE LO., LTD.

(Capital Paid up...$1,250,000.)

Advances made on Merchandise: Loans maja on the Provident

Syitem.

(Rates and Particulars on ap

plication).

sellers at the present time. From Presiding at the general meet- this the inference is that coning of the Kwalne Rubber Eskong Currency).

Forms of Entry and all parti-perty, &c. sumption is keeping puce with intes, Mr. R. J. 11 ffmann said it the increase in production, while was hoped that the company culars may be obtained on ap: Goode received on Storage. every fall in the price of the would commence tapping about plication to material only rendere it more and this time next year. Since May: more unprofitable for some of the 31 laat rear they had probably wilder rubber to be collected at spent $3,000, so that with the all. In other words, part of the call which had ret to be made of supply that has been coming for 28. Od. per share on 107,500 word from different parts of the shares they had about £19,000 HONGKONG JOCKEY CLUB. world will be shut off by the left, which they considered would economic laws of simple profits be sufficient to build their factory and loss. What is feared by and to bring their estate into full holders of plantation rubber hearing. Pharos is that their companies He had been present at almost may be forced join he ranks all the meetings of the Rubber held on WEDNESDAY, the 29th

NOTICE.

THE HALF YEARLY MEET

ING of MEMBERS will be

October Next, at 12 o'clock, noon, of those which cannot collect rub Growers Association and other at the Offices of the Jockey Club, bar at a profit if the produce is meetings as well, called mostly on the Ground Floor of the Hong- no better than 28. per Th.. and it to consider the position of the kong Club Annexe, Chater Road. is this fear which has led to much rabber market, and whether any-

aubthing could be done to help the of the selling that has so

Various stantially lowered prices during price of the article.

suggestions were discussed, and

the past few days.

་

By Order,

T. F. HOUGH, Clerk of the Course.

MARTIN'S

Figures have already been divergent views existed as to Hongkong, 15th Oct. 1913. (960 given of the prices of rubber what should be done, but nothing as yot been itself, and attention may now be practicable had

Somo advocated the directed to the shrinkage which evolved. hae cocurred this year in the tapping of large sized trees. quotations of the shares in some That was all very well, bat uf the loading companies. Quotst them take the company'a fions, at present at their lowest, case. They could probably atood at practically their highest wait until the end of next your during January, Ro far as the before tapping, and he was sure.

that that would benefit the whole present year is concerned.

Dividende have been

in estate, but they must be guided most cases severely.cnt, but it is by their ficances, and they mnat to the fall in the price of rubber obtain revenus some time next itself, and not to the reduction inj year. Others advocated holding these distributions, that the back rubber for a certain prica- series of heavy declines must say, 38, per pound. That would be mainly attributal,

possibly be effective, as he believ

APIOL & STEEL

for Ladies

PILLS

A Franch Remedy for all Irregularitler. Thousands of ladies sways keep has of Martin's Pitis in the house, so, that on the first sign of any irregularity of the Systems a timely dose may be adi ministered. Those who pig, them, re; commend them, hence their enormous All Chrfach mal owes melliskem throughout the world, or poss Ízno - gfs - HARTIN, Chemist, Easthampton, Eng. MARTIN'S

APIOL & STEEL

PILLS

Agency.' Direction der Disconto Goss!l- schaft.

Dresdner Bank: INTEREST allowed on Current Account, DEPOSITS received on terms which may be learned OF on application. Every description of Banking and Exchange buris ness transacted.

The Office of

EXECUTOR TRUSTEE,

WILLS, ATTORNEY, &., Undertaken and Executed.

SHEWAN, TOMES & Co, General Managers. Bongkong, 19th March, 1908

RAK TRAMWAY Co.

LIMITED

PIME TABL

WEEK DAYS..

7.00 AM to 1.06 A. $.04. 10.00 AM. 10,00, 14:00. £1.30 A4. to 1943 PM, 14.1 P.M. 10 21 3. 2,15 P.M. to 2.45 8.3.

I M. Lo 0.15 P.M.

1.00 ..

(3) FIM. 10.

5.00

$ 20

32

£1 894 b.

B.K.&W'poz Dooks 150 {677) Shanghai Dooks T. 100 57 Hongkow Whorfs T, 100 T.109

LANDS, HOTELS & BUILDING S

16.

b.

b.

89

b.

$30 - $45

T. 90

$50 #72 8.

b.

Anglo French Lande T.100 T.94 f$125 Hongkong Hotels $50-

$85 Hongkong Lands $100 $110 Humphreys Estates $10 Kowloon Lands.

Shanghai Lands T. 30

West Pointe

Manila M'pole Hotel P.10 P. 8

COTTON MK2.1.5.

Ewus"

T. 50 T. 144 Shanghai Cottons

T.1175

MISCELLANEOUS

104 14

猛片

b.

Laon Kung Mow Kung Yik Hongkong Cottons $10 $9 China-Borneos $12 $91 Light and Power $101 Da. (8pec. shares) $1) China Providente $10 $9 Dairy Farms

$6 $27 Green Islands $10 87 ss. & b, Hongkong Electrics $10 84311⁄2 .b. Hongkong Loss $25 $150

Hongkong Roper

R. TIMMERSCHEIDT, Langkate

Manager. Hongkong, 9th Oct., 1911. ́*

$10 $23

g. 10 T33)

$25 $22

[2

Morning Pont Peak Tramway

$10 $104.

Qo. (now)

THE MERCANTILE BANK OF

INDIA, LIMITED. Authorised Capital ......£1,500,000 Subscribed

Reserved Fund

Events Mini

in Men,

#

Paid Up

10 M.

་་

1. Max.

10 MIN.

25 MIN.

1

NIGHT CARS 3.56_and_*PM-79.guinm» sa

$1,007.Mavory half hour.

12.00

to 1.45 936.

ávery quarter offaruḥout............

SUNDAYS...

י י

$50 $0 20.30 am. EVERY 15 MIN.

11.00 AM

TO HUMA 10.30A.M. 10

10 Book

BY MEN. 14. Lo 2NDON to 1.00 7.

100 7.3, to 1.00 1.14, la.

1.00 255. 300 F.K. LO 1.00 PM. 106.10 PIN,

$ Da Fist:

500 H.

13 MIX,

to MAN.

11. 14 Ms.

NIGHT CARE fae; on Wook Days:

SATURDAYS.

Katra "Când fat" ta”, midnightai

SPECIAL CARE.

Astunguustos at the Compphy's Oct,

„Alevinsten" "Vai tabu

$1 90 cts.

Hongkong Electric Trams 9/- E

$10 $5 1125,000 Philippines

562,500 H. Price & Co., Ld. 610 66

Pre- $15,000

dea [ferred Societa

$50 $20 Pulpeset Papierteries paid du Tonkin'

up 850

BANKERS: Bank of England. London Jobit Stock Bank, Limited,

Interest allowed on Current Ac- counts at 2 per cent per annu on Dally Balanne and on Fixed Deposits at rates which may be ascertained on application,

"AR LINTON

THE ALEXANDRA: CAFE Cannot, be Beaten, if Equalled, For Bread, Cakes, Confectionery meals with Wines & Liquera.

Beneft $200 Shanghai-Sumatras T. 20 T.150 Steam Laundry $5 $4 United Asbestos】

Oriental agency, $10 8914 b. Ld.

United Asbestos Founders Shares Union Waterbost

Weismann, Ltd. Watson William. Powell

$10 $300 $10 $17 1/2 b.

$1090 #10/8734. b...

(Final of 4/~ making 6- for yearending 31*12*12: Int. of 1/- a/c. 1913-

$2 on 10,000 shares 1st issue

12 on 10,000.

2nd

3rd

for year ending 30'4'13 ·

$3 for 1912

$3 for 1897

Interim ofp.o. 8 2/5d par

share. Couton No. 1 ao

count year 30.6.12

-Int. of 2/6 a

1/2 for 1909

1913

$4.50 for year 1912 $1 final dividend for

year 1911

T. 3 for 1912

Interim of Tis 3 for 1913

Tla. 6 292*10

$3 on old phares, $1.50)

on newshares fox half

year 31:12*12

$311⁄2 for 14 year ́ending :30 6.13

50 cents for 1912

$3.80 for 1913

Interim of 5 p.o. för.

year ending 30°6′13 half | $2 for 2 year endin 30.6.13

15 per cent. for 1910

7 p.o, for year ending}

31°10'12

Tla. 10 for year ard-

ing 30'6'13

50 conts 31.7,06

85 cents for 1912

70 cents for 1912

$1.30 for year end'g 31'7:13. 40 cents for 1911

$1.60 per share for 1912 $2 interim for 1913

$1 interim for 1913

Interim of Tie, ling Te. 2 a/c. 1913 None

80 cents on fully paid, shares and 8 cents on $1 paid shares for year ending 30.4.13.

Final of $5 pc making

7p.c. for 1912." None $1.50 for 1910

None

No dividend this year 50 cts. for year endʼg 31.5.12

(20 per cent. per ordinary

shore for year inded- '315′1912 ::.-UN SAROUN

1 per share for year

anding 31'12101214) 25 per cent, for your fi ending: 317111

:: 60 cents för 1912, u sub 240 cis, yearendfüg 30€1200) WRIGHT AND HORNBY, JON'S

Kedera) brokkes & Da Vomix Hand Contral Tel, Mickis Restitude," Taq Tasganga den nan kald kanti sanguecible lat lay of the shore qudinilen