Closing, Sept. 8.
Bombay Rupee T. T. on:
N. Y. 339-899, London—1/84 Shanghai 1914 N. 2 mths Hongkong 85i,. sellers 1/54] buyers 1/6
London £ Sterling T. T. on:
New York 40250 Shanghai—3jd. Madrid—4000 Bombay 1⁄6 Berne 1730 Hongkong 1/34. Bel Congo 1701, Singapore 2/4%
Paper and Worsted shares assumed an upward trend. and local analysts pointed out that these two shares had en lagging behind for some time past considering the advance of other shares, Stocks of raw materials had apppréciated considerably, it was pointed out. and the financial position of the two companies was satisfactory, The flotation of paper Industries in March resulted in a huge oversubscription, Paper Industries shares have been issued to an amount of 1.320.000 shares representing a capital of $6,000000. Paper Industries is a holding company. which has in its|Btiss Possession about 46 per cent, of the shares of the China Fibre Container Lid. Within the course of six months, shareholders received two interim dividends totalling $0.55.
it may be interesting to recall the Concerning Shanghai Worsted Mill words of the chairman spoken at the annual meeting of shareholders:
The earnings of the company should benefit by the rising market. and by the great improvement in the quali and quantity of the cloth produced. especially when the new machinery is working. and when the plant is all installed in the modern factory at Pingliang Road. instead of in the present rented premises. On the other hand, difficulties may arise in obtaining delivery of raw materials, Otherwise, there were no special features. and traders expect a continuation of the steady trend barring unfavourable news,—Ww.1.w.
Text read from the printed page and cleaned; old type leaves the occasional error.