Page
TRADE and
THE CHINA MAIL, TUESDAY, FEBRUARY 15, 1955.
COMMERCE
AMERICAN ECONOMY
HEARINGS POSTPONED
Washington Feb. 14. Public hearings ori the recent Fixe In th stock market tiginally scheduled for next wer -will be postponed waill eally Mare
21 in
all that the Com- mitter wishes to catlice Information-United Press.
High Level Steel And Auto Operations Highlighted Markets
By JOHN MORKA
New York, Feb. 14.
HONGKONG STOCK EXCHANGE badership on Tuesday. The lack of trouble in the Tachen evacuation
The high level of auto and stel operations and the resiliency of commodity and stock prices despite mounting international uncertainty Stemming from Formosa and Moscow highlighted the U.S. economic picture last week.
From Our Correspondent
Flo
Nak
ing an
True, prices faltered presuma y un news of the Moscow switch in
Com-
and the eienation of Malenkov were advanced by some observers for Forday's selling off which saw price cluse 1 to 4 points lower. modity prices moved narrowly lower.
Ji
|1|
P
NAZHEIZ ME
་ ་་
1
!
Devon
4139-
maite any thre weghout the The Traderably of pattern that would Foods and rafts, palee difference to the market
The feeling & Fur & the uns! day at
arming Beancial Jane Wall Streeters Lexperts here is that market and
discounted | rommodity have generally
prices are for the Armada nal pressure as the over- most pari now bring guided by 25 ruling farti behind market be- | domestic rather than foreign
developments
SEARTH ISLYERS NELLEUS MALEN
BANKY
JIK
M
INSVHANG IS
441
Labora
2140 ***
I
K
K WH
1
251
14,4)
1 g • Drvo
LAND PR
Jik
del
VRHLITIES
ד יד
6 3.1
Berry
11
SECTION
Onassis May
Sell Tankers
Hamburg, Feb, 14. The Greek shipping Arfalotle
Mr
marunte Onassis may sell 45 oll tankers to Saudi Arabia, it was disclosed here Inat nixhi
Dokeman for Onamls' Olympic Marilmo Com- Hany at Hamburg saich tonight that the ship. owner planned to nego- flate the malo DI the tankers, totalling 1,000,000
tons at the end of this month with Saudi Arabian representatives. France- Presse.
World Cotton
Markets
uncti
NEW YORK
STOCK MARKET
New York, Feb. 14. Trading in, stocks was
affair to- highly selective
up
day, with special issues sharply while the main body of stocks declined fraction- ally, on profit-taking.
Industrial stocks were knocked down 2.00 on average, reflecting sharp declines lu a handful of leaders-Bethlehem Steel 2. Corn Products 1, Du Pont, 11⁄2, General Motors 23%, Johns- | Mihvlile 3, Standard Oil (N, J.)
1.
Rails ran up a few cents on AVсTAKO,
The big news was in the so-
called special JESUCs. However,
Ji
General Dynamics, maker New York, Feb. 14. atom powered submarines and of Liquidation and transferring aircraft as well, soured 53% points of the nearby March contract to $118%, Bath Iron Works ran dominated the cotton futures up 2 to $47 on rumours It will market today.
merge with Dynamics,
Ex-Cell-O
climbed 2 10 $104% on a two-for-one stock Split
Increased arch
dividend!
10 sharply near rf approval of plans
quire two companies.
Babcock and Wilcox moved Otherwise, trading lacked up 37% points to $87
had it the Company feature as deulers marked time rumours
foreign political de-will
the
contact IC pending
Exinon's velopments or some other new Consolidated
Edison energy power plant. ruse to $51.
This artion on nearby March brought heavy liquidation pres- sure en the entire st United States, 1
prices
were off pute produrtion will hit na all- the close. unte record high of 168.160 new automobiles this week.
Automotive News, the trade, daily, said the week's production will shatter the all-time high of 805,800 cars turned out in June I was beinitted by some ex-| General Motors, for example, of the boon year of 1950. erts that the Russian metdent is furnishing an antidote to the paper predicted the record pro- Poured as a
excuse for some! Russian news with its new stock duction this week would be the sellatenka.
That the experts issue invaleting over four million first of a series of new weekly
shares cd the market har muny other
on 1-for-20 subscrip-records set in the next month used to delite without even tion basis. And there were two and a half combien ing sa I had been "over might splitups in stocks-
The
|
incentives.
At the close prices ruled four to 22 points lower. The market opened up 2 to off 4 points. New Orleans futures finished 8 to 10 Points lower.
The first notice day for nearby March will be next Monday. February 21.
Certificated stock of all cotton February 11 rose 1,120 bales to 71,036, a new high for
the year.
STEEL HOPEFUL in Westem alon Pure two- for conn fur
Meanwhile, the steel industry-
that might be 9 l 11340 setit
stocks; was hopeful
operating at more than 10 per if jevnt of dupurity in a few weeks some more spiltups come along Demand has been heavy from tro uniberiputed. IU S steel users. The market could well go Injoy been a tremendous new high ground
Courier to he
4
15%
Cod,
TAKMI
:
Hughs withint fur-for-one
A Jou radmand pains
12.11
wapat Jest to lake. thers Bera wes talk of lightn credit and higher morguns
24
which
Soarint
Ace rdingly.
NO CHANGE
!
in the tancial dia. No Frict anticipated ony change in
The overall Ilusion political
1470
14
at org
1, in 21 40 41 20 MA
40) 124, 173 1
147, 14 10 244M4
LEAR
11)
2130
Flemm
17
Elve
1212
1
17
200
14
45 70
44
30.20
ENDUS PREALA
Нторина
STOJUS, ETC
{r}
***
2341
1140
I.
13
Chicago
that haven't
weer
H
Wax fell.
orders fholled
Total
Volume 10,100
33,100
Opet teresi
415,400 1,140 700
20000 20,100
208,800
232,200
3,500
138.400
2,300
83,100
4,100
BG.100
200
2,100
100,300 2.810,000 baica,
NEW YORK
Trading volumes and open in- But there has erests in the Exchange today
nickup in were Month and March for semi-finished
from abroad, prin- | May CONSOLIDATION
the market ripally from Great Britain, West July, it is explained
Detaller December to be in a process of Germany and Italy
With
US tac
clydian | March cnsolidation under the cover of Grain
individual stocks. Market prices eroruzny causing the steel ingot May are about the same level they rate to approach 30 per cent of fest trading day of capacity, a serious turn in inter- 1855. This consalidation period national events would create one iny take a bit more thine, u laof the highest steet markets sluce
Koren, the National Metar |
us follows: says working Weekly noted,
Spot war, The Formosan
crisis and March Russian emphasis
war-May 2109 also expected to production is
October attract orders from steel users: December who perhaps have allowed their March ment of future business prosparis. Many anticipated the export de-
Inventories to get too low. May S bad autos--hulwarks of Or
would probably remain US Leonomy-continued but shmand
Street's Intuition Wall there isn't going to be a ! some experts explained
The strong surge of activity in considered and cules D Lighly important in tny usscas-
Prices
..
(lucago. Feb 14 Puters per bushel in cents
Clusing
hell
bees!
Wheat, Nu. 2. rrd
Man 725th 221WE
44 45 4
July
211 2134
Now
21324
!
Corn, No. 2, yellow
Sipicat
Mist
131
M
164-1613
1923-
teks
A
POTEGNS
Trakles
MISCELLANEOING
Allied
א!
Singapore Stock Market
+
He..
152"
13
NA
Rye
Mul
Mus
<
70
Mar
746-
роблоз
Soybeaus. Nu. 2. yellow
Speat
Shugapore. Feb, 15
Ma
274 270-270
leafy the fol
Miy
July
Sept. Nov
Spot
dour
327-
22.
20/01 31/0
31 17
30
$107
$3 (K)
27214-272
20645-208
2501-200 240
1940-1500
114 GOB United PreA).
New York Foreign
lowing tok priesto
Brush Naruto. Petine
ala Srodavate Commolidated TIB
Smelter. Ordb
Feb 14 Feb 15 Barley. Cin¬ting Op
Pre ord Neave Ltd.
Ordinary be Fraser and Neave Lad,
25%
25 akong & Shanghai
Bank Computation (Colonint Huginter Mulayan reweites kaffen Hotel Singapore Cold
Si roge South Bruasda Insuronets Straits Trading
Stratis Sleanship. United Eng.nevri
Ordinary true
DE 10 MIL 50*
New York flour
209 13 ch
Wearne rollers
Pelating Tin
twith div.
4)
$1
$270
נע $
Exchange
New York, Feb 14.
..6102 11
283-257 Detal
Convidiam deller
$400
$270
21 03
{"1"
gla
326 20
$20 20
sza 10
625 spelt clone
$10 G0
$10 BU
5 W
$13.70
513 70 Future
3
$2,03
52 07
A/30
0/3d
$1 (127 33 051
cum-div. Cuni-capital issue
-China Mail Special.
Exchange Rates
Busybos
was done in the local unoticial exchange Inarket this nurning at the following rates:-
Sim Heals (per 100)
90-day 6-th
as
CEMENTS STRONG
Cement stocks were n strong spot.
Bulova Watch soared 7 points 1 $62 in a firm watch scefion. Steel shares moved lower.
л
Along with the sharp Kamp In General Dynamics Chance-Vought there were few wide drops in aircrafts. Hell Bendix lost 2% to $110,
were
144 to $334.
Out of
a total 1,245 issues traded, 508
higher, 4983 luwer
Turnover of 2,950,000 shares the lightest since Feb. 3. And compared with 3,260,000 yesterday
was
Demand centred in low-priced issues-Hupp Corp., up to $74; Graham-Paige, unchanged Prices of futures closed today at $2 and Electric and Musical
Industries, off to $4%.
The
New York Stock bond volume
July
ORLEANS
33.00m 34.44-45
Ex-
35.00
34.77-18 change
was
39.02
$4,755,000.
15.00
35.12 19.30
The American Stock change volume wax 1,200,000 shares.
EX-
NEW
Prices of futures closed today
as orders culpted production. (so heavy that excess ingots from With many malu deniers report-some American steel plants wili
shortage uf
rars find their way abrond in the as follows:
near future, Iron Age predicted. B
new
World Rubber
The
Markets
Singapore, Feb, 14 rubber market opened quietly steady and eased of
because of pruit- 1 later taking.
ELSEWHERE
March May July
October December
1
March;
May
July
Colton
DOW-JONES AVERAGES
Dow Jones closing averages
on Wall Street today were $6 follows:
30 industrials
34.20
34.41
34.75
35.00
W ralis
34.09
is under
33.04
15 stocka
35.27
40 bonds
14.34
1522
LIVERPOOL
Comm. future price Index
YESTERDAY'S
Ali Chokers
Elsewhere in brief: Unemployment showed seusonal increase while con- struction outlays reached NOW highs. A total of $2.800,000,000 January-13 per was spent in jernt above the year-ago level.
1980 Unemployment million, an increaso over the January layolts Seasonal Christmas buying reason some temporary slackness in the construction business and other lines was behind the job drop.
Coffee prices slumped tus American middling, week us Brazli
took
steps to re
18/16th inch rapture her coffee market in the American 8. L middling
boosting Mexican middling, By 101-104 United States.
subsidies to coffee exporters, to boost exports June have been 35 per cent behind the
levels.
futures closings, Alden Inc. Acy. to
3.3 Americon middling, 15/16 inch, Allied Chemicals of 500,000 in pence per lb.
were as fol- American Airline 1953 period. Jows:
afler the Mar/Apr. and May/June
The market
opened slight with steadier in the afternoon some selling towards the close. Future closings:
No 1 rubber per Ib.
Sellera
102 23/32
102 13/10
Feb. Mar Apr. No 2 rubber per lb.
Feb No. 3 rubber per 1
Feb No. 4 rubber
per lb. Feb. 1.02 41/64 Spar rubber unbaled
Blanket crepe
30535-105*% 1034-103
unquoted
10216-102 Brazil hopes
101-102 100-10314
14-93
102 35/04
10 37/4 No. 1 paio crepe
rate
Buyers
$: at 50/04
102 39/64
102 34/64 1.020/44
United
103 41/64 1024
1.02 35/04
PETR.
July/AUR.
Det lov
Dee./Jan.
33.23
32.20
American Metal
American Snelung American Tel & Tel
29,109 American Tobacco "B"
Anaconda Copper
31.04 31.94
Oficial values for pot cottons include:
32.07
3th Inch 20,67 1-1/32nd inch 34.45 SAO PAULO
Futures closings, in cruzeiros
100-101|ording to the Wall Street per kilo were as follows:--
Mar.
drop has consumption
May
July
perhaps one-
Oct..
Dcc.
2000
30.50
30.25 31.60 31.00
Mmco Steel
NAT
Baldwiá-Lima Hamziton Dalinore & Oldo Bendix Aviation Corp.
Benguet Cons
431.39
165.00
03.02
152.07
100.23
100 02
PRICES
Feb. 14
6 201
(773
Demichem Steel Boeing Airplane Canadian Pacific Radway Chae (JL) Co. Chase National Bank Chile Copper ... Chrysler Motors Commercial Credit Commonwealth Elec. +Consolidated Edison
Continental Steel Com Products Crane Co,
NEW YORK Futures closed today 110 to Journal, the price 155 points lower with sales of helped the U.S.
race "o recoup 128 contracts,
Cuban American Sugar Curls Wight ...... In the United States, The market turned weak in fourth of last year's loss. They
the Dupont de Nemours recken 1954 consumption was 12 average price of 18/18 middling Gas Mecake... active dealings on profit-taking rec
cotton at and lower London and Singn- per cent below
ten designated spot General Electric There were indications that markets today was 34.19 cents. General Motors pore cables.
The profit-taking was attri- some of the companies which Sales at there centres totalied Willette Safety Razor
that the purchased Government-owned 21-76-8/10 market was due for a technical synthetic rubber plants will sell 12,405 bales.--United Press,
London Foreign
Exchange
New York
Montreal Amsterdam*
Brussels
Copenhagen
London, Feb. 14,
30.89-10,00
130.2734-139.30
10.37-18.37 3%
20,01-20.01%
14.00-14.5AKL
buted to the bellef
correction
to 30% cents a pound,
Future closings were:
36.30
23.18
34.70
34.30
their GR-S synthetic at or near 23 cents a pound Spot No. 1 Ras fell 14 cents the present
Nom. level when they assume control Shell Chemical of the plants. Co. and Firestone Tyre Rubber two of the eight buyers of Co Government plants, have an- nounced they will hold to the 23-cent line. Another, Philips Petroleum Co., has set a price of 20 cents on its future pro- duetion.
US dollar per $11
3.90
Oslo
Sterling notes (per £1)
15.09
Faris
37019-07552
Indonesian rupin
(per 100)
15.70
Stockholm
Mor.
27.00
Markts
11.70-11.76)||
May
Sigapore (Strali}
Zurich
17.241-122454
July
0,25
United Press.
Sepl.
Dec.
Max.
L-Chan pinetres (per 100)
American Bank To
Open In
Singapore
Singapore, Feb. 14.
LONDON
33.70
33.20
The market WBS barely steady. No. 1 Ras' spot were quoted at 30% pence per lb. Prices: No. 1 spot ss ...
Sellement house term:
March
April/Juno
July/Bopt.
Det/Dec. ka
New York Sugar Market
New York, Feb. 14. World No. 4 sugar
futures
General Foods
Goodrich (B.F.) Co. Goodyear Tire & Rubber Kumstaka Mining Co. International Business Machines Internalanal Harvester International Nickel International Paper International Tel & Tel John-Manville Co. Kennacott Copper Lockheed Aircraft Leows - Incorp, kad Lone Star Cement Co. Minnesota Mining
Redlo Corporate
(closed unchanged to five points Montgomery Ward.
lower with sales of 05 contracts, National Cash Register
Domestic, No. 6 sugar futaires National Distillar closed unchanged to two points Natiorini Lead
points New York Central lower with sales of 33 contracts, Olle Elevators NATURAL RUBBER
Pacino Oas & Electric Further March liquilation Pacide Western Oil 304%-30% Meanwhile, competitive 3}}{
featured world futures. Notice Pan American Airways 30%-30% tural rubber, has been selling at featu
was posted
to Paramount Pictures on intentions 304-301 about " 35. cents a pound in
Philips Petroleum 90 March transferable Pittsburgh Plate Glove 30-3011 recent tradings. American rub issue General markets, elf basis, porte ber manufacturers, have been notices in the world contract to warning that American plants wil
turn more and morEL Future closings: 301-3045 synthetic for their requirements
unless
There Somo adjustment
Contract No. 4 (world) In the price of The market'was quiet. Pripes
Far Eastern rubb
growers May closed today. in guilders per have insisted that the Govern July
September on kilogram,
CIF Marchas ment pegged 23-cent price was spotem perde per its fob follows:
unrealistic
should be open interest 3.307
The Bank of America will open a branch office
in this Crown Colony in the near future, it was disclosed here today.
February
pr
March
Estate crepe thick March Estalo crepe thin caren 3iz
AMSTERDAM
The plans to catablish a "constructive outlook" branch in Singapore, were an development of the fren. nounced by Mr Russel G. Smith, Mr. Smith added that the No. 1 rubbat..
Bank's the
had veallgated the No. rubber President, who arrived here for
Southeast Asia, and as a No. 1 erage
a week's visit.
Executive Vico-Bial development situation No. 3 rubber
in
Mr Smith said that the Bank remult millions of dollars had
of Amorfen was very, therested | already.
"The Bank of America is one in
*-United Preg
and
MIDTOW
Domestic futures were quiet,
March
157 buyers babeled to encourage greater Contract No. 6. 1.20-trayers 100 buyers consumption of the tree-grown Contra Jnd buyersU.S. dizens would be given b
product
May per cent tax credit on Sternb dividendi accruing from Impunidad Invartinents "frider a (treaty approved by the
RUBBER OUTPUT
In the industrini de flaf the inrgest contribulom to the Kubber outout by Java Cone.] prop
Southeast Asia. ⠀⠀
Ho sald that the Bank, which enlargement of world trade" he soldated states Lia for Jun Senat: Foreline Redeifans: hoa 4,000,000 depositors, had a saldmyrance)
Huary pyar 297,000 ibi.
mittée ---United Pres
November
Beo Motors
Hopühile, Broek
snel ou Co.
Sincikir QIL Bocony Vacuum
Southern Hallway. (Coŋu) · Standard Brandi
312 Standard, Oll of Callfomia.
520 Bandant Oil of· Indiana (avs Standard Oil of New Jersey Stokely Van Camp Busdebaker-Packard Corp;
Swift » Coi
Texas Co. RE
Union Carbide :)
5,44 Union Facile Hallway.
BAY Tiled Gas, Imp.
M
Сурет
EMAAKTEPulber -
B.18 Tinted Busies, Buelting
KAS, Westinghouse
Woolworth
Pago 9
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Ontwards "CORFT!"
"CANTON"
"CHURAN"
"CARTHAGE"
Leaves London Dre Hongkong
7th March
nd March
4th April.
10 March
10th April
50211 Mareli
Mny
Vin Routhampton, Port Said, Aden, Notabay, Colombo,
Penang & Singapor
Lenten Wongkong Die London
Homewarda "CORFU" "GANTON"
*"CHUSAN"
11th March
Eith April
$113 April
May
2nd May
MTS May
"CARTHAGE"
65
MAY
Ta June
Via Bingapore, Penang, Colspido, Bombay, Adon,
Vort fald & London
• Also exti. Marketiten,
"SOMALI"
FREIGHT SERVICE
Pol
lor Hunts. P Buettes beni Penang. Cutorobu, Aden, Puri Sald. Genos, ntaries, Havre, Lon- don
itoties-
Antwerp, damian burg
from UK.
from V.K via Straits
"TREGENNA" due 20th Feb
dur "SURAT""
6th Mar loads
for Kobe & Yukonasna
With liberty to call at Belawan before or after Straits
or and at Bombay if inducement offera
Tauke available for carriago of 0 to Balk. Limited l'assenger Space for refrigerated cargo.
accommodation
BRITISH INDIA S.N. CO., LTD.
SIRDHANA" dur 2nd Feb.
walls zelis Feb
“WARLA"
**FULTALA” dur
dur 24th Feb sails 25th Fab. 3rd Mar. Z 4th Mor.
"SANGOLA" due 458 Mar.
Kaila
from Japan for Slogane, Penang. Bangoon & Calcutta from Calcutta & S'paro for Whampoa & Japan from Japan
tor Singapore, Rangeso. Calcutt, de Chittagong from Calculla Rangoon
buh Mar. for JISAN
P. & O./B. I. JOINT SERVICE
"OLINDA”
dur 23rd Feb. walls 13th Peb.
"OBRA"
dup Zud Mar
walls 4th Mar.
fruin Japan
for Shugapore, Penang. Bumbay... Karochi, Ban- jah, Khoramafulbię ♬ Kuwait
from Karachi. Bonbay. Cochin & Singapore Jor Jupati
EASTERN & AUSTRALIAN S.S. CO., LTD,
"NELLORE"
አሮ 5th Mar, nala 8th Mar,
+
"NANKIN"
Ane 19th Mar and 20th Mer
from: Jopan for Sendiakoo, Rabmil Brishane, Bydney, Meli bourne & Adelalde
from Australin for Japan
All vessels havo Überty to call at any ports on or off the roule & the roule & salling are subject to change or amendment with or without notice.
For full particulars apply to:-
MACKINNON. MACKENZIE & CO.
OF HONG KONG LTD. Telephone Nos. 27721-4.
EVERETTY
LINES
EVERETT
ORIENT LINE
refrigerator
Malaya,
Fast regular freight
<
passenger service to Korea, Japan, Philippines, Indo-China, Slam, Rangoon, Calcutta and Chittagong.
"NOREVERETT“
Arrives
Sails
Feb. 19 from Singapore,
Kobe Feb, 20 for
"REBEVERETT”
Arrives
Soils
& Yokohama.
Feb. 25 from Manila. Feb. 26 for Singapore,
Penang,.
Rangoon, • Calculto Chittagong,
(Accepting cargo, for tranabipment Kobe/Puzan' and
Kobe/Okluawn).
EVERETT STAR
LINE
service
to
Fast regular freight - refrigerator Japan, Malaya, Colombo, Bombay, Karachi and
Persian Gulf. (Bubject to inducement for direct call 50101),
"STAR BETELGEUSE"
Arrives
Salls
4134
Arrives Sails
Feb. 20 from Singapore.
Fob, 20. for Kobe & Yokohama,
Feb. 20 from Japan.'
> Feb: 27 for Singapore, Port: Swot-
tenham, Madras, Colombo, Bombay, Karachi, Bharah, Kuwalt & Bohrelo,⠀⠀
IITED - PASSENGER ACCOMMODATION)
(Accepting ergo for transhipment » Kobe/Pusan and Kobe/Oktanwn)."
EVERETT STEAMSHIP CORPORATION S/A
(Incorporated ja des · Republic of Panama tui
With incited, Lásaility) “, z Chinese Department: Telephone 28293 Queen's: Building, Telephone ~31206.