1
Page
THE CHINA MAIL, FRIDAY, FEBRUARY 18, 1955.
and COMMERCE
TRADE and
COMMONWEALTH
SECTION
PREFERENCE
NEW YORK Commission Should Be RENEWED
STOCK
MARKET
New York, Feb. 17.
The late sell-off Keema
habit on the New York >
ck Exchange. For l Third sesalon row, prices moved
In L Just
before closing after showing monly strength. The realising was more modest than yonder. day, however,
Ilustrials held
their
A few cents
gain, average
and outside
this Jenching group. there were a number of higher features, many of them respond. Ing to special news,
Ralls closed a bit lower on avrange, pulled down by lossas of 1% poils to $13962 in Santa Fe, among others
Volume luchtened on the de- cline today Turnover for the session of 3,030,000 shares com- pared with 3,800,000 yesterday.
Or 1,221 lasues traded. were 549 higher on the day, 425 lower.
AIRCRAFTS HIT Selling hit pretty hard in nire crafts where there
Gearzal
profits to be Lakezz Dynames webh has fun
ྨ་ཟ
זו /
pid down verafically in receni sessions in line with a series of inerger
102
Incl
s112.
finished off 13
dividend.
drials,
ints. ex- Chance- Vought, which has moved in the name muzey for the same pea- so lost to $583%
General Tyre moved off 219
to $54
lower candngs
in the oils.
Set Up Similar To American Organisation
EMPIRE LEAGUE AND B.I.A. IDEA
London, Feb. 17.
A proposal that the Commonwealth countries should set up
a Preference Commission on the same lines as the American Tariff Commission has been put forward by the British Industries Association and British Empire League.
They propose 2 system of administering tariffs incorporating the American "peril point" clause which per- mits duties to be raised against imported goods which are found to be seriously undermining a domestic industry. Under the Commonwealth system, however, protection for an affected industry would take the form of increased pre- ferencec in Commonwealth markets.
The United Kingdom Govern- ment, my the Association and Ligue, should encode that the
World Rubber United States handing of her
Markets
Singapore. Feb.
17.
The rubla market was easter report. Houston Oil fost 2% to today Liquidation continued on $101
Woolworth nervous market and there was fell to $50. Other Losses some fal support towards The
Future clowings:
rubber per 18 Maret 13-0014
April 06-001 May ungred
were small-of
34. pont variety.
ווא
gonorally
American
vesivier
an its
the close.
Telephone, sold
huge
Dow
and Lexaimed
16
No to No 4
Spo
No
rubber baled
1 pile tripu Kupu
financing pleus, turned around No 2 rubber per 16
Today
SIT
Spery robbard to move up
its
$53 Eletrentes
dividend, ødding
issues, strong
yesterday, cos
continued in command and closed with goins ranging to
The New York change bond
$3,040,00
The American Slock
volume
tarif programme is reasonable, but should insist on the right to
the same upply
principles Commonwealth preferences.
"PERIL
"There
POINTS"
are peril points in Commonwealth trade," they say, "as has been amply demonstrat- ed in the West Indies,”
the
of the Common- The object wealth Preference Commission,
be " March 95-961, they continue, would
Da-Da!!
advantageous mutually Das-65 foster
trucie within 1-0 reciprocal 10-47 Conimonwealth and Empire,
paying due
the to regard Interests of those both with a and withoul."
90-100
NEW YORK
Futures closed 25 to 50 points with sales of 349 contracts.
[1]-
All claims for a change in pre- 3 points in Zeuth at $90%.
ferences should be submitted to Airline issues also did well, Terminal market prices drop- this Commission for investiga- Mrching beds were in demand. ped back after an opening up-ton. It would have the power,
to after
submission of Traders continued
proper Skick Ex-awing. volume
the Government was analyse
evidence, to rule that clan was 1r nouncement on the crude rubber | ill-founded or undesirable.
It ruled in favour of the claim, rotation programme, Ex-
it would submit its proposal to 1,070,000
Some quarters felt the effect the Commonwealth Government might be to keep the manufae- | concerned for ratification, turers out of the market in thei Immediate futur, since they ex- peet to be able to cover their 41048
146.65 requirements for
lov out of the Government,
Another
view
Wus differentials between
change
shurrs.
WI
DOW-JONES AVERAGES Duw-Jones closing averages of Wall Street were as follows:
30 Instantą
All rail
15
Wellner
65 utrka
469 maste
Corti future poter
YESTERDAY'S PRICES
Alden the Aer
Onec ratified, the
proposals #rades should be put into effect with-
stock out further reference,
DISCRETION
World Cotton
Markets
fensive for the rest of the
BUYING INQUIRY ON STOCK EXCHANGE
By A Special Correspondent
With the Tachen evacuation safely over and the advent of the dividend season, share prices looked a lot healthier this week on the Hongkong Stock Exchange.
There was renewed buying inquiry through- out the week and the money situation was comparatively fluid. There are a long list of rises
on the sales list and just the odd decline here and there.
The three dividend announce- matHotels, Providents and Electrics-have all been quite well received and have con- tributed to thr market's im- provement,
yeur.
Hotels are paying out a dollar compared with on cents last In view of the terms of sale of the Pedder Street site, It is a fola distribution but it has not excited the market unduly. The sharta the week.
are up 70 cents on
Electrics have announced mal dividend of $1.55 which, with a 70 cents interim, makes $2.20 for
the year
compared with $2.20 last year.
There was some disappointment with what seemed to be u rather meagre New York, Feb. 17.
Increase. True, Ove Cotton futures opened slightly | HGT
cents is nothing to write home about, lower and remuined on the de-
but I think many people are in- clined to forgel that the com- pany did have to pay out $3 Closing on a reaction, the list nisted on the day's lows and million earlier in the year
Gibb Livingston for relinquish- olt 8 to 17 points net Opening the management of the com prices were
8 points. ing New Orleans closed off 5 to 7 pany. They rose $1 to $30%
before finishing 50 points.
on the day at $38.
PROVIDENT'S
scesion.
off 3 Lo
in the new Foreign selling crop deliveries, plus continued March liquidation, before first notice day on Monday found trade buyers reserved.
The March contracts dropped buck to within striking distance of the 344 cent level, establish ing its lowest level since late last February.
Open March contracts at the
totall start of trading today 322,800 bales,
ста
The Commodity Credit Cor- porasion reported producer tries under the loan programme AT the week ended Feb. 11. tatalied 27,000 bates while with- drawals totalled 20,200 bales.
Trading volumes and open in terests in the Exchange today were:
10
conte down
SURPRISE
came with the
The surprise ment of the dividend, which China Provident's announce-
unchanged on the year, and the of one for every bonus issue four held which, under the The present economic conditions and view of the uncertain prospects ahood, Is quite an uchievement. The shares started this morning u1 $15.00 and finished at $10.30 after touching $10.80 in the afternoon.
Most Issues in the utility group show an improvement on the week. Trams
are up 00 cents, Yaumatis, on new bonus
rumours, Open interest | Jesuc Volume
touched $100 04.700 *$*$2,800 yesterday ($8 up on the week); 30,000 1.154.200
|Lights are up slightly to $17.70 and Telephones are about steady at $32.
BIG IMPORTS
OF BRITISH CIGARETTES
Singapore, Feb. 17.
leading
British olgarette salesman dig- closed here that Malaya
the biggest overseas market for English-made cigarettes and last year Imp ported 6,000,000,000 cigarettes from England.
Mr A. E, Stephens, of J. Wix wind Bons Ltd, a London
cigarette
הנותנת
facturing
firm, who visiting Singapore, said he
thought the reason for this
high rate
of Imports we the "high Quality and standard which have made British cigarettes popular not only in Malaya and other Commonwealth coun- trics, but also in hard currency arean"—Fraset. Presse.
TODAY'S SHARE PRICES
(From Our Correspondent)
Business done on the Hong-
Stock kong moming amounted to $740,175. Exchango this
Noon morning's transactions;
quotations and the
SHARES BUYERS BELLERS SALES
Page
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL 5.N. ÇO.
PASSENGER/FREIGHT SERVICE
dutwards "CORFU "CANTON"
"CHUSAN'A
7th March
Leaves Loudon
Dae Hoogkong
2nd March
411 Apri
18th March
18th April
2nd May
"CARTHAGE" 30th March
Via Southampten, Pori Said, Ades, Bojóbay, Colorabo,
Nomawarda
"CORFU"
Penang Bingapore
Leaves Hongkong Due London
11th March
12th April
"CANTON" **CHUSAN”
8th April
9th May
2nd May
30th May
"CARTHAGE"
O Muy
5th Juo
Via Singapore, Penang, Colombo, Bombay, kden,
Port Bald á Landon
Also calls Marseilles.
FREIGHT SERVICE
"TREGENNA“ due 21st Feb.
"SURAT"
due Oh Mar. toads 7th Mar.
·load 30th Mar,
from UL.
from U.K. via Straits for Kobe & Yokohama for S'pore, P. Bwetten ham, Penang, Colombo, Aden, Port Said, Genoa, Marseller, Havre, Lon- 100, Antwerp. Rotter- dard Hamburg
With tiborty to call at Delawan before or after Straite Perù and at Bombay U inducement offers.
Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger Accommodation
BRITISH INDIA S.N. CO., LTD.
"SIRDHANA”
"WARLA"
nur 2011 Feb. walls 28th Feb.
dur 24th Feb. halls 20th Feb.
2nd Mor
"SANGOLA" que
"FULTALA”
#alla 3rd Mar, Gua 0th Mar. naka 10th Mar.
from Japan for Singapure, Penang. Rangoon & Calcutta from Oulusta & S'pora for Whampoa & Japan from Calculta Rangoon & Straits for Japan from Japan
for Singapore. Rangoon, Calcuttă de Chiliugong
P. & O./B. 1, JOINT SERVICE
"OLINDA"
"OBLA"
a Zim Feb. saila 23rd Feb.
que 2nd Mar.
from Japan
for Singapore, Penang. Bombay, Karachi, Bes“ rah, Khorramuhabe Kuwait
from Karachi, Bombay, Cochin & Bingapore salle 3rd Mar, for Japa
EASTERN & AUSTRALIAN S.S. CO., LTD,
"NELLORE"
"NANKIN"
due 7th. Mor, from Japan siis och Mar.
for Bandakan, Rabau?, Brisbane, Bydney, Mel- bourne & Adelaide due 19th Mar, from Austenta sulle 20th Mar. for Japan
All vessels have liberty to call as any, ports on of of the route a the 'route & sailing are subject
le change or amendment with or without notice,
For full particulars apply to:- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD, Telephone Nos. 27721-4.
Commission
and the President, July, sey the Association and League, The number of Commonwealth Governments
concerned would alone guarantee that.
NEW YORK
Prices of futures closed today as follows. Spot
10 006 100
pile.
LAS 80
that
one
Month
March
May
two and three sheets would
Feb. 17
$22.
Allion Chemnih al All Chalmers
American Airline
DS
234
The power thus taken would widen in relation to the lower be exercised with as much con-
rades.
Spot No. 1 Hss were sideration and discretion as 13 Mat. 211, quoted at 34 cents a pound, shown by the American Tarift May
nominal.
July
30,300
72.000
Oct
0.200
Dec.
10,900
144,700
2.600
19,500
3.200
93,100
1,300
130 300
2,000,000 bales.
American Metal
572
American Smelung
434
American Tel & Tel
ずれ
Future closings were:
American Tobacco "11"
031
Mar
34 10
In the heavy stocks, Banics and Unlons with scrip scarce moved up quietly to levels.
DANKS
HIK Bank
2130
10 4 2133
104 2140
better INSURANCES
Anaconda Copper
2314
May
33.00
Armco Steel
7324
July
23.03
Amour
10
Dalwin-Lima-Harnilteri
101
Sept Deu
3.60
32.10
34.000 24.27-29
Enlilmore & Ohio..
414
Mar.
31.50.
Lands, Cements and Forms are steady, 31.03-04 appear to have found a tem-
Dairy Cements DOCKS, ÉTC,
Unkn Lombard
180
48
30
34.91
Bendix Aviation Corja
1121
34.00
Benguel Lans.
LONDON
34.03
Bethlehern Steel
110'
34.00
Canadian
Boeing A Hallway
201
porary level at around $44-45 for they have been hovering be- ; tween these two prices most of 33.10-28 the week.
* Sock
Wharf
Provident (Old)
Came 13. I. C
1702
July
33.pen
Whedock
10.00 1120 400 4 1080 1600 10.10
7 720
000 or 18,10
Chase National Bank
CO
34
01874
Commercial Credit
bit. No. 1 Time pat
HK Hotel... 15.80
16 500
4016
Do
Settlement house terms: March
28
Apr1/June
28
34.10
R22
67
July/Sept.
34.20
45% Oct/Dee,
34.04-05 34.03
1342
34.07
Rubbers, following a sharp TIK Land
Tanity drop in raw material prices in 5403-04 Singapore, were easier on the UTILITIES
0034
07 200
1.93
week.
35.12
Tram .......31.40 21.70 500
39.20
39.06n
Child Copper ..
Chrysler Motors
Commonwealth Elec.
Consolidated Edison
Continental Steel
Corn Products ... Crane Co. .......
Cuban American Sugar
Curtin Wright
Dupont de Nemours
Eastman Kodak
General Electric
General Fooda
21
1722%
7015
703%
General Motors
Gillette Safety Razor
13
Goodrich (B. F.) Co.
04
Goodyear Tire & Rubber
0816
Instake Lining Co.
International BusinceS
370
International Harvester
Machines
International Nickal
International Paper International Til & Tel
John-Manville Co. Hennecott Copper
Lockheed Ateratt
Lee Inermp.
Lone Star Cement Co.
Minnesota Missing
Montgomery · Ward,
National Cash Register "A"
Nationa] Datiliora
National Lend yo
New York Central
Otis Elevatore
Pacifio C & Electio Pacifio Western 011 ...
Pan American Airways
Paramount Pjotres
Radio Corporation
Repabile Gleel
"If such a proposal were put | March into effect," they say, "much of May July the British antagonism to GATT October would be removed and Great December Britain
March and The marked was ẞrm. No. 1
other Common-
May countries could then spot Res were quoted at 28% wealth
probably submit to a strengthen- pence per lb. Prices:
in other direc- ing of GATT 284-294 tons." 2014-20
The Wheelock group feneral- NEW ORLEANS
ly experienced a quiet week and LAND, ETC. Prices of futures closed today were conspicuous only by their
absence from the sales lists. us follows;
July
The Association and League Spol 2015-20% criticise the proposal Britain March 272-281
GATT to help May General markets, clf baals, porta has put before February
20-2013 the Colonies find a market for October
- their goods in the United King December 28-11-2011 | S
dom.
According to a report, March Bollers 201 sellers 2941 the proposal covers a request to July
United PiS.
take temporary measures to allow development of industry in Colonial territories,
March April Entate crepe thick Patate
crroe thi
New York Sugar
Market
WHAT IS NEEDED
"What
the Colonics_need,” say the Association and League, "Is not temporary measures but New York, Feb. 17. permanent measures, not solely World No. 4 sugar
futures to enable them to establish in- closed today unchanged to 4dustries, but measures designed polata higher with salen of to give them a steady and stable 224 contracts.
market for their primary pro- ducts as well.
Domestic No, 6 sugar futures closed
* 1 point higher to
"It is not fair to them or points lower with sales of 327 Britain that wo should walt contracts.
May
LIVERPOOL
Futures closings, in pence per New York Foreign Light 17.00 17.70 21:00
Ib., American middling, 15/10 inch, were as follows:
include: American middling
Exchange
soliers buyers 1.0176 1.01-15/10
Y'mali Ferrty 180 180 4000
Cght (N) 144, 14.30 Electrica 37 500-
Exo. 12.20 Telephone .. 30% 324 1500 32.60 INDUSTRIALS
Mar/Apr.
May/Juno
July/Aug.
MICIO
Oct/Nov.
31,60
New York, Feb. 17.
Dec/Jan
31.56
Official values for spot
Cottons
Canadian dollar rate,
Spot:
15/16th inch
32.01
closo
American B. L. mjdáiing“.
high
44 443 200 63 44.75 1500 44.39 10
With inch Mexican middling
1-1/32nd e
29.01
34.30
low
10176
Future:
Egyptian Giza 30, 25 points decline, BAO PHUO
B0-day 10-day
1.01-27/33/1:01-18/18
-1.01-20/33 1.01-10/10
*STORES, EN.
Dalay
Mar.
MAY
GATT, but
July
Oct.
Des
3150
BLIO
30.65
31.550
until disaster has fallen upon Futures closings, in cruzeiros World future ruled higher on them before we run to GATT trude buying with the armer cap in hand to ask permission per kilo were as follows:
to do something. They are de- Trade interests pendencies not of mw altuation. were reported on both sides of of Britain," the domestic contract, Futurs closings,
Contract No. 4 (world)
Maron
Philips Petroleum Pitsburgh Plate Glass
Reo Motore
07
Shell On Ca.
8142
Binor Ol
Bocony. Vacuum
Southern Railway (Com.)
Standard Brunda
Standard Oil & Calltorrila
MA3
Standard Où of Indian
July
Blandand Öll of New Jer
Blakley-Var Camp,
Bludabaker-Paciones. Corp.
Swift & Co.
Texas Co.
Umor Caride.
Union Pacino Raliway
United Gas, Imp
UA. Gypsum wes
UA. Line Co..
UA, 16bber ( United Mate
Wanner": Brda
Woolworth
ib tob
3.15
London Foreign
Exchange
In the United States, the ever- ago prico of 15/10 middling votion at ten designated “apời markets was 34.09 cents
Sales at them centres totalled. 15,243 bales-United Press,
Dement
1.031/18--1.66-3/22 Hope
1.01-18/10
6-month 1.0134) 1.01-27/32 Watson XI, 13.40" The free market rate of the COTTONS as quoted by Pick's World Cur- Japanese'yên to the U.S. dollar,
rency Report: 490,- United Fress,
2020 100.0 Z120
Textiles SITSCELLANEOUS
Afied
.0.40 0.00
MESSAGERIES MARITIMES
PO. Box 53m Queen' Building "1′′f 266517
||FAST PASSENGER/FREIGHT SERVICE CAMBODGE”:
Exchange Rates "VIETNAM
Business – was „done, Unofficial
.... sailing Feb. 26th sailing Apr. 8th
FREIGHT SERVICE
Mar 2nd ing Mar 16th
EVERETT
LINES.
EVERETT ORIENT LINE
Fast regular freight refrigerator passenger service
to Korea, Japan,
Philippines, Indo-China, Slam, Malaya,
Calcutta Rangoon,
and Chittagong.
"NOREVERETT”
Arrives Salls
J
& Yokohama.
Feb. 19 from Singapore.
Kobe Feb. 20. for "REBEVERETT”
Arrives Salls
Feb, 25 from Manua.
Feb. 26 for Singapore, Penang,
Rangoon, Calcutta Chittagong,
(Accepting cargo 'for transtilpment Kobe/Pasari and Kobe/Okinawa)
EVERETT STAR LINE
| Fast regular freight == refrigerator
service to
"Japan, Malaya, Colombo, Bombay, Karachi “and
Peralan... Gulf.
(Subject to inducement for direct call Kores),
"STAR BETELGEUSE”
Arrives
Saita
LAO
Arrives Saite
Feb, 20・ from Singapore,.
Feb, 20 for Kobo de Yokobama..
Feb, 20 from Japan.
Feb. 27 for Suigapore, Port Swet- tenham, Madras, Colombo, Bombay, Karachl, Basrah, Kawail & Bahrain, (LIMITED PASSENGER ACCOMMODATION)
(Ancepiing, calys for transhipmen
gand | Kabe/Ükinswa)
ETT STEAMSHIP CORPORA