1935-04-12 — Page 7

DOLLAR AGAIN RISES

BUT SHANGHAI UNAFFECTED

U.S. SILVER OUTLOOK

Silver prices in London yester. day advanced three-furthings, making the spot price 29.11/16d., which is the highest recorded since July, 1926.

The Hongkong dollar again reacted to the rise in prices this morning. the offeint rate being 28. 14d, which is an advance of a farthing on yesterday's closing rate. Tho business rate is about 25, 1.9/10d. and 28. 1.94d. The market Ja very firm.

SOLID FRONT AT STRESA TALKS

(Continued from Page 1.)

based on Article XI, Part One, of the League Covenant, to examine the threat to peace and good relations resulting from Germany's unilateral donunciation of the Verwallies Treaty,

It is understood that the mem- orandum, while not demanding direct, condemnation of Germany, points out that "German methods render International collaboration If nut impossible at least most diffleuit."

The text of the resolution to be introduced by France was also discussed by the Conference and it is thought possible that a joint resolution by the three powers may be agreed upon for introdue tion at the Council British Wireless.

meeting.-

BRITISH POSITION

Stresa, April 11. The British poaltion regarding the problem of peace and security whe fully presented to France and Italy at the conference which opened here to-day.

THE HONGKONG - TELEGRAPH. FRIDAY, ・・ APRIL ́ ́12,

CORRESPONDENCE

The Share Market

The Editor,

Hongkong Telegraph

LONDON STOCK EXCHANGE

LATEST SHARE

QUOTATIONS

The following quotations on the London Stack Exchange have been received by Messrs. Swan, Culbertson and Fritz in conjunction with Router.

Sir, I have just road the very interesting opinions expressed in the article on the share market. In your Wednesday's issue, which, unfortunately, are only too truc. It is a very sad state of affairs when n mere handful of men,War realising the bad conditions under which we are now going through, try to make things worse for the 44% Bonds 1898 Colony, Why not let things take their natural course?

are

r

Apr. 10. Apr, 11. British Government Securities ·

Loan 3% rem. after 1962 £100 £100%

Chiness Honds

(Eng. Iss.)..... £101% £101

Loan 1908. £ 074xd£ 974 xd Loan 1912 ... £ 80 £ 80%

Reorg. Lunn

6c Shal-Nanking

44

6

6%

1013 (Lda. Iяa.) £ V6

£ 95%

to

Bonds 1925-47 £ 95%

£ 95%

Tient.-Pukow

nly £ 82%

82%

Rly 5% Tient.-Pukow Railway (Supl.

£ 30

€ 30

S'hai-H'chow

Ninepu By. £100

£100

Horan Rly £30

ก

£43%

£ 30

46%

G

I have been approached for the loan of shares at market rates, and over a premium was offered to me for the loan of these shares, but knowing that my shares would obviously be used for dumping purposes, I refused to lend. 1 much regret to seo that others have assisted those

who helping to ruin.Ilongkong finan cially. If those who have loaned shares would recall them im mediately, I feel confident auch & step would immediately bring The Renter diplomatie correshenithier state of affairs all round. The disparity between Hong-pondent understands that the A better share market would help kong and Shanghal Is becoming statement included a declaration the property market, and, in turn, more pronounced every day, the that Great Britain would do every business generally, as the public cross-rale this morning being 135. thing in her power to strengthen would then have more. money to The advance in London aliver the administration of solidarity spend, and could and would spend prices was due to America and proposed between Britain, France freely.

peculators buying. India

and Italy. and China operates both ways, and the market eyed stendy.

Shanghai still continues to re- main unaffected by allver prices, the market opening this morning at, 18. 6.15/16d.. the same as yes. torday's closing rate, but Inter the dropped to in. 6%d.

ABANDONMENT OF GOLD?

Washington, April 11. With the silver movement again getting up stean, members of Congress arë watching with in-

terest to see whether reddent Roosevelt's action would check ncrelerate the drive towards more far-reaching mensures. notably Senator Wheeler's Silver Coinage BUL

It was

felt that no country

should make any assumption in the interest of its own policy that France, Italy and Britain could be divided on matters calculated to strengthen the peace of Europe.

Hongkong is to-day overloaded with money just waiting to be in, vested in first-class stocks such as we can boast of in this Colony, but confidence is lacking, and many are walling for what they consider the right moment to buy. Diy opinion is that now is the me to invest in land stocks, as the in terest paid by quite a number of it clear that Britain was Companies is much more than one striving for scales of armamenta can get elsewhere, and the Com

was willing to allow Leaguepanies are just as supervision to see that such coni-hope to be able to buy at the lawest is just us sly na hoping to mitments were carried out.

sell at the top of a market.

Britain was willing to contribute to the forwarding of collective security in every way practical, and the British Ministers also

I made

and

GOOD BEGINNING There is a general feeling in British circles that a good begin- ning has been made and that no disagreement in principle hus made Iteelf manifest between the three powers,

sound. To

&

Loan... £ 2G

5% Hukunaz Rly.

1911

Lung Ting U. Hai Rly, 1013 - £ 10% £ 16%

Foreign Honda and Banks German 7 Int.

£ 6914

£ 18

Вода 1024 Japun bre Sterling

£14

£. GO

Lonn 1007

£ 70' Japan 6 Sterling II.K. & Shal Bk.

Lonn 1924

£81%

Lin. Regd.) . $120 £124 Chartered Bank £5

£14K £ 14% Commercial and Industrial Allied Iron Found-

ers

Associated Elec.

Industries

Austin Motors ord

ah.

Boots - sh......

British American

- Tobacco....... Canadian Celancee

36/6 30/03

25/7% 25/73%

-4(5/5)

40/3

48/3

48/0

112/0

(12/

Chinese. Eng. and

77/6

77/6

16/3

10/3

19/0 -49/0

91/- 00/0

18/3

4813

Musica!

28/...

27/0

18/0

401-

35/-

35/--

8/0

8/7

Senator Key Pittman to-day as

Min. (Bearer). serted that thie Proclamation is

Courtaulds proof that the President is carry-

Distillers ing out "enthusiastically" the

Reverting to the question of Dunlop Rubber.. London Silver Agreement and the

lending shares, which has been Electric

Industries..... Silver Purchase

wholesale scale, sup- Act. Senatorį

suing an a

General Electric Pittman added: "It is not 'su

posing the lenders recalled their

(England). much the increase in silver prices

shares and prices advanced sharp-Impl. Chem. Ind. which is significant, but the fact

by, would the borrowers, if theyImpl. Chem. Ind. that it conclusively proves the

The last part of the afternoon's | could not obtain shares to replace Def. 10 h... President intends to carry out the discussion was devoted to the those borrowed, be able to pay theImpl. Tobacco 135/74 130/- silver programme fully in the BI French appen to the League. It difference in cash 7 I wonder? whleb, it is generally admitted, is understood that this is regarded" |

no par val... $20 would encounter stift opposition as a purely French document

those that have Rolls Royce £1

sh. In the Senate, Meanwhile, which will not be reshaped by the donned shares is to recall them'hai Elec. Constr. verites are apparently not excited conference and it is emphasised immediately, and then observe the Tate & Lyle over the developments and have that there is no question of the excitement in the share market. expressed thele determination. t three

AN INVESTOR. the powers presenting. pursue their course with renewed League with a fait accompli. The energy. President

question of Germany's return to

Roosevelts

action, nevertheless, is greeted with greatest satisfaction for the spirit in which

was under- taken.""

Senator Thomas has addressed a letter to leading economists and Inanciers in which he foresees the

early abandonment of the old Standard by those countries that are still maintaining it, with the aubsequent world, stabilisation..en n bi-metallic basla. At the same time, Femtor. Thomas suggested that the more gold and silver that the United States has, the better would he its position to influence the terras of a work stabilisation of currencies.-Reuter.

SILVER COINAGE

Washington, April 11.

the Lengue was also raised and in this connection there is no feeling on the British part that this move which might possibly do more raust he necompanied by conditione harm than good..

The problem of the Eastern

"The question of including Ger- many in the present conference was not raised,

My advice to

"BEAR" TRADING IN H.K. DEFENDED

Continued from Page 13

Pact was also reviewed and the stock rises suddenly when every- close connection of the Franco-thing else is quiet-I won't say Nussian understanding.

weak-and is giving a much lower return, and in some cases no return- at all, compared with other stocks on the list, and that investors will eventually take advantage of the capital appreciation and sell, by standing by the rules of the game and paying his full brokerage for services rendered, he is entitled to follow the investor whom he knows Will be a seller, when the rise has abated.

The meeting lasted two hours and a half and according to Italian circles the atmosphere was notably friendly.

It is possible that the conference may extend over Saturday and this is regarded as a sign that the The Senate Agricultural Cum-discussions are proving of value, mittee has approved the Wheeler-Renter. Silver Colnige BBI. The B calls for the ratio of 16:1 with #old.

The Committee's action, together: with yesterday's developments, have spurred Silverites into fresh activity, but Senate lenders fare expressed their confidence that the Bill would not be passed, although Senator Wheeler claimed a gain in voles since the issue was tested in the last session of Cum gress-Router.

T

POLISH TRADE

SHIP

DUE HERE. NEXT WEEK

BIG CUNARDER REFLOATED

AQUITANIA MOVED TO DEEP WATER

The

London, April 1. 45,000-ton Cunard-White Star liner, Aquitania, which struck and stuck on a mud bank in the Solent during bad weather yester day, and resisted later efforts to remove her, was refloated thai afternoon after saveral attempts, a small fleet of tugs assisting in the operation.---Reuter.

London, Apr. 11.

The Cunard liner Aquitania.

A Polish exhibition ship, the s.s. Dardanus, chartered by the which yesterday ran aground when,

(Polish port on

"The public should realise that 'Bears' are hot, as is suggested. entirely the cause of the present | depression. To call it an artificial depression is nonsense. This enn he proved by the fact that the in- troduction of the new rule requir ing numbers has virtually stopped short selling; yet the market still appears unable to hold at, presení vels. We must all realise that there is a depression. There is no Lise in trying to fool ourselves that

there is not. But there is no need to be pessimistic about the future. Provided the market is not mani- pulated unnecessarily on the up side, present share prices will prob ably prove to be as near bottom na ever they will be, or, at any rate. within a very small margin of

possible decline,

generally are improving.

Internat. Nickel

1935.

RADIO. BROADCAST

Dance Music by President Jefferson Orchestra

THREE STUDIO ITEMS

Freen ZOW on a wavelength of 36b metres (845 kiloxycles);

4-7 p.m. Chinese Programme.

7 p.m. Stock Quotations. 7.03-7.33 pm. Light Orchestral Selections.

Sleeping Beauty-Waltz

(Tachaikovsky, Op. 064). Llebestraum (Liszt).

Songs without words-Potpourri. Potpourri aus der Operette

"Gaspareno" (Millockor).- Medley of Hornpipes.

Medley of Jigs.

7.83-7.50 p.m. Vocal Gems. Helen (Offenbach). Follow Through (Brown). Alo Rita (McCarthy).

7.50-8 p.m. From the Studio, "A Weekly Review" by Sabrina.

8 p.m. Time and Weather Report. 8.63-8.10 p.m. Organ Medley from "Take a Chance" and "Broadway thru' a Keyhole" played by Terance Casey.

8.10-8.40 p.m. From the Studio. Violin and Planoforte Recital by Miss Ottilia Derwin and Miss Joyce Aaloreon.

Programme.

TAN

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VIYELLA SOCKS

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Selection:

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2. Violin Solor:

Thais-Meditation

Massenet.

Trees

Rasbach.

3. Pianoforte Solos:

Polichinelic

.Rachmaninoff.

4.

Violin and Piano:

Pale Moon ......

Logan.

CHEVROLET/

་

I hear you calling me.. Marshall. A Dream...

Bartlett, 8.40-0 p.m. Band Selections, Zampa-Overture (Herold). Hyde Park Suite (Jalowicz). A Hunting Scene (Bucalosi).

9-3.45 p.m. From the Studio. 56th Recital of Gramophone records. by The Rev, C B. R. Sargent,

9.45-10 p.m. Octets.

Memories of Chopin (arr.

Willoughby).

Saver thrends among the gold

(Danke, arr. Willoughby).

My Sweetheart when a Boy (Morgan,

arr. Willoughby).

10 p.m. Press Bulletinn.

10.03.11 p.m. From the Studia. Dance Musle by the Orchestra of 8.8. President Jefferson, directed George Banning.

Programme.

10.30 p.m. Rugby Mid-day PTOKA News.

11 p.m. Cluse Down.

ZEESEN PROGRAMMES

This Evening's Broadcast From The German Short-Wavers

by

$20%

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4778

4710

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101/-

Turner & Newalt

53/-

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Special

programm for Far Eastern Untenen will be broadcast from Zrewen as follows:

Woolworths 7-

103/0

Miscellaneous

Anglo-Dutch ....

22/3

Chart. 1h/nh

104/3

22/0

21/6 21/6

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Rebber

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Mines

8/6 26/- 25/- 278/9

8/10/

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198/9

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281/3

20/2 20/0

ord. sh........

1/6 1/6 Rubber Trust..

20/3 20/9 Southern Railway,

(Deferred) £.232.

Burma Corpn. Is.

10... Chosen Corpn. Crown Mines.... Randfontein

Estates Spring Mines ... Sub-Nigel....... 983/9 Rhokaan Corpora-

lion

98/0 28/0 Oils Anglo-Persian .,. .GO/- 13

75/- Burma Oil

75/ Shell Trans and

Trad. (Bearer) 5379 53/9

-Router.

21 YEARS AGO

Extracts From the "Telegraph" Files

The following extract are from the Hongkong Telegraph for the week ended April 11, 1924.

The rate of dollar on demand

was 1s. 11.5/164.

Mr. P. M. Hodgson was appoint-

ed to act as Crown Solicitor,

A meeting of dog fanciers de- cided to hold a Dog Show at the Racecourge.

WILL RIGHT ITSELF "Matters should be left alone Polish Government from the Blue in a high wind, she was making the during this period; the market will Funnel Line on behalf of the turn into Southampton Water-right itself when everybody re- Polish Export Institute, left very difficult manoeuvre in

In the interport regatta at Can- Gdynin

the conditions for a ship of her size-lises that trade and conditions ton, the Canton Rowing Club won

all the oventa. Baltle) on March 1 on her way to was successfully refloated soon

Hongkong re- "Dame Rumour has not been presentatives included Mesara.. the Far East, eailing at Rotterdam, after high tide this evening, Suez Canal, penang. Singapore, She went on a soft mudbank, and responsible for the misfortunes of C.W.C. Mayno, R. Brown. E.F. Swettenham, Hongkong although it is believed no damage the Cement Company, any more. Momber, A. Murdoch, G. A. Dairen, Kobe and was done, she will be examined in than for the prosperity of the Caldwell, J.A. Pým, and A. Thomas.

dock by divers. Ten tugs were Electric Company, Facts should used to pull the liner off, British | be freed, and it is obvious that any Wireless:

Port Shanghai, Yokohama.

to

for

BRITISH BUDGET

TO BE INTRODUCED ON MONDAY

The purpose of the exhibition ship is to display industrial and food products of Poland, and loen! firms and the general public in the ports of call will he invited visit the ship and obtain informa tion concerning the aranufacturers and marketing agencies the products displayed on board.

The Dardanus is expected to arrive in Hongkong on April 16 and will stay here for several days. The goods on display will be in products, agricultural machinery, tissue paper, textilos, by-products of honey, wax, parrafin, etc.;

The principal Commons event. preserved ham and sausages, pro- next week will be the Chancellor sorved

mushrooms and fish, of the Exchequer's annual Budget chemical products, asbestos, clay statement, on Monday, which, ng products, wrought iron, wire, usual is eagerly awaited- pipes, galvanized Iron, steel, etc. British Wirctcae.

artificial attempt to put things LEAGUÉ EXPERT

right in five minutes will only have disastrous effect on the market. The least said and dene at present, the better.

...

"To sum up, it is just as detri- mental to

COMING SOUTH

INDUSTRY

market interests to RECONSTRUCTION OF bulla markot artificially as to bear it artificially. Constructive measures. either way are what is needed."

London, Apr. 11. Parliament will adjourn for the Easter Recess next Thursday A letter on the subject from a and will reassemble on Monday, reader appears in our correspon April 29.

denco columns to-day.-EdH.K.T.]

Association are holding their annual The Queen's College Old Boys' dinner to-morrow in the fail of the College at 8 pm.

|

Nanking, April 12.

SOUTH ASIA ZONE

South All our brond:aut from DJD, (19.74 mettre) (and DJN (98.66 metres),

4.45 p.m. 11379, DIN Announcement (Germ..

Engl.) German Falk Song. Pre ramme Forecast (Garm., Engl,) Woman's Houới "Oh I can esok,

and van sow

Dh.m.

News In English.

30 p.m. 5.45 pm, Folk Songs of Thuringia by the Lamcha Thuringian Forest Chair.

In the Interests, Tales of the Thuringian Ifomeland, by Rodolf Haumbach.

4.20 p.m. Plute Selections of an Old Flute

introiden_of_the_Berlin.

Philharmonic Orchestra.

1.43 p.m. Nema in German -

1 pan. Concert of Light Muxie.

* p.m. News in English,

8,11 pm. Close down. DJB, DIN (Germ., |

Fox.)

KAST ASIA ZONE

East Asia Zone brondsust through DJA on 11.18 metzen, and DIN (31,45 metres).

* p.m. DJA, DIN Announcement (Germ... Engl.) German Falli Beng. (Prov gramms Forecast (Germ, Enæ}] 1.13 p.m. Woman's Hours "Oh I can cook,

and I can now . . .” 9.45

FD B.M.

m. How in English on DJA and

in Datch on DIN.

Light Cancart Programme with Interspersions.

11.10 p.m. News In Germaan on UJA and

DJN. £1.30 p.ni,

12.15 km

German Musicst Life in Rococo Darn. A Literary-Muslex) Itadio Bulte by Hana Kano Volkmann.

News In English on DJA and

Dutch on DIN. iz.10 .. Close down DJA. DIS (Germ

DAVENTRY PROGRAMMES

To-day's Broadcasting From Four Transmissions

The fallawing wavo-lengtha and Frequsncien are shoerved by Daventry.

Call Sign Frequacy Wavelength

6.050 .c. 49.85 metres #510 2.c. SL.BA 5.676 k.c. 3130 Intro 11.750 4.c. 25.43 matres 11.845 k.e. 25.28 'maiTOA

י

16,149 **..

CHA

GRU

CSG

GSD

GS7.

GHY

ርዘር

GSIS

21,470 1.6.

CHI

15,140 k..

GBJ

21.440 Engl.)

.c.

ir.190 kr.

19.82 Maltes

MIŠI

13.05 metro 13.42 meter 12.03 met

Transmission 5

16.5.C. and 0.8.A)

a. Tig Ben Reginald Liversidge, at

the Organ of the Pyramid Theatre, Balt,

7.20 .m. Nightmare Bericu.

7.45 m. Dance Musle

'Grownwich Time Signal al Midnight

am. "Soldiers of the Quee

3.45 .. The News.

↑ 1.m. Close down.

Transmission 2

(0.8.F, and 0.8.C.)

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Ice House Streat,

Just Another Day!

If you feel the way when you wake

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Organ of the Regal, Kingston-on- tion that your liver is out of order

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1.10 p.m. The Trocaders Cinéma Orchesire and needs toning up.

Renwick Time Bignal al noon. 8.11 p.m. "Living Dangerously.***

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4.39 pine. The D.U.C, Dance Orchestras 5.15 p.m. Friday Midday Cantart. 144 virs. The Nawa and Announcements,

10 p.m. Clase down.

Transmission 3

(G.9.F., Q.5.E. and 0.8.0.1

19.15 p.m. ir len. Taik! "Freedam,*** 19.15 p.m. Yascha „Krein and his taipar

Orchestra.

11.30 p.m. A Musical Tour of Deliein. The

31.B.C. Empire Orchestra. Greenwich, Time. Glenal át 4 15m. 12.10.x,m. „Tha Newa, and Aupoanevmonia. 12.59 m. The Holet Batampote Orchestra. 1.11 km, Troles and blu Kandeliere with

„Don Carlos (Tamer), 1.46 m. Close dawn.

Transmission 4 (0.8,D, ́und `0.8.11.)

The League expert, Mr. Robert Haas, has completed an extensive tour of the Northern and Central Provinces and is leaving for Canton on April 20 to inspect the

tung, and Kwangal. Thereafter he reconstruction projects in Kwang- expects to go to Geneva, taking am. Interlude ship from Hongkong-Reuter,

3 am Big Batt. The News and Annsunde

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Greenwich Time Signal at 7 pm, Kil um. The Douglas Colliery Band, 2.15 am."The Travelling Companion,'

Greenwich Time Bignal at 3 pm. 421 m. "Satélers of the Odem. 624 mm. Fred Hartley and his Novelty

Quintas,, with" Brain Lawrmer. The News and Announcements.

Danza Music,

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Tel: 21322.

STOCKINGS

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