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TRADE and
THE CHINA MAIL, FRIDAY, APRIL 15, 1955.
COMMERCE
SECTION
SHARES FIRM IN ACTIVE MARKET
NEW YORK No Holiday Dullness
STOCK MARKET
New York, Apr. 14. Selective demand for a wide variety of special stocka "highlighted an irre- gular, but moderately active session.today.
Lore
Specials pushed to the In mid-afternoon, and final gains
ranged to more than 4 points in a number of issues,
The rise-seventh in a row for Industrials lifted the group to a new all-time high average at 422.46. Ralls failed to pick up with the industrials, however, and dipped from the 25-year peak set yesterday.
Turnover for the day amounted to 2,890,000 shares, compared with 2,820,000 yester- day and most for the month so far."
Early trading was marked by considerable profi-taking, stem- ming in part from the move by the Kansas City Federal Re- serve Bank to stiffen credit a bit by increasing its rediscount rate a move which it is ex- pected other, reserve banks will
follow...
A few leaders climbed on the downside but for the most part the day's news centred de up- side features.
PACE-SETTERS
+
Spurry Corp. and Remington Band, which will merge, were
with Spurry
pace-setters
wo
more than 7 points and Re- mington more than 4.
DERBY PRIZE MONEY ON HK STOCK EXCHANGE?
By A Special Correspondent
The Easter break brought nothing of the customary holiday dull ness to the Hongkong Stock Exchange either last week or this week and when a busy afternoon call ended yesterday most shares were showing a fairly firm front.
Among the highlights of the week were:-
The jump in Telephones following the announcement of Govern- ment changes in the company's franchise,
The rise in Unions to a new high of $1,025
New demand for Cement shares sending them to $29.
World Cotton
Markets
was 2
New York, Apr. 14. Cotton trading today quiet, narrow and irregular ses-
sion.
Liverpool brokers were small- scale buyers of May against sales of later positions, supposedly to transfer hedges forward.
2
With
in
Spinning Mill For Indonesia
Washington, Apr. 14. Indonesia lennitely" will constrict 2 5,000- spindle ramie spinning milt at Made na utilising ·
·Japanese made · mischiatry, the Agriculture Department reported today, Press,
United
Socony Guarantee For Italy
two
The short week before Easter, largely, I hear, on better trad and the two and a half., trading ing results. These shares will
Washington, Apr.- 14. -- Oil. Co. Inc. Socony-VacuLTA days since have shown a mark continue to do well on present ed increase in activity; probably prospects.
has bought nearly $11,000,000 some of the Derby sweepstake
types of Government Still no sellers prize money is finding its way
of Wharves guarantees covering a new
in- into the market as the dazed and the brokers attribute their vestment in an Italian sub- but happy winners slowly represent rise to buyers $74 to the sidiary, it was disclosed today. covering from the sudden wind- complete lack of scrip on the
The Forsign Operations: Ad- fall of a few thousand dollars market. The puzzle is: why the
demand in-
for ministration announced that for a sound
when the prospects look around
"substan- vestment.
Socony is making are not Awfully his company cheerful in the coming year. tial". further investment Brokers are surprised by the Sacony-Vaccuum. · Italiana continued rise in buyers rates Naples so it can install a new and-
The the only explanation. that I catalytic cracking unit, have heard was that most of exact size of the investment the shares are at present held was not announced. fairly closely by investers who bought in the pre-embargo days
unwilling to sacrifice such
Well, to any who are con- templating a share investment, my tips at short odds would be Cements, and at longer odds, Wheelocks and Yaumatis.
Telephones came" in for
a
was
began circulating in Ice House Street that Government going to make changes in the big loss at today's price: company's franchise. About 68- 000 shares have changed hands since last Thursday and price has risen from $31%
$324.
to
a
TODAY'S
SHARE PRICES
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange
this morning amounted to $664,058.- 50. Noon quotations and the
· morning's transactions:
SHARE BUYERS KELLYES KALES
BANKS
HK Hapk... 1525 1535
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL SIN.
Co
PASSENGER/FREIGHT SERVICE.
Leaves London; Due Hongkong
Outwards "CHEMANÈC "CARTHAGE! "CORFU "CANTON"
Salled
18th April
»2nd - May
27th April
Soth May
24th May
27th June
Via Southampton, Port Said, Aden, Hombaý, culomibó, Petang & Singaporn
Homewards *"CHUSAN”. "CARTHAGE"
"CORJU" "CANTON"
Leaves Hongkong Dus London
And May
5th May
-3rd June
1st July
30th May,
5th June
5th July
1st. August
Via Singapore, Rebang. Colombo, Bombay, Adan, Port Said & London
* Also enlls Marseilles.
INSURANCES
Union SHIPPING
• 1020
301535. BQ 1530
LUSS
"SUBAT",
1914
200-16
DOCKS, ETC.
K Whart Provide: (0)
Wheelock
LAND. ETC..
HK Hotel HM Land ...
Realty UTILITIES
Tram
Y*mat!" Perry
XALL
C. Light (0)
76
11.80
7.30 500 @ 1.35 17.10 17.30-3000 @ 17:20
2:15
20.40 20.70 100 201
1000 20.50 $7.0.22
108 100, 200 à 148
C. Light (N) 13.8 Electric
Macas Elec,
1
The two Federal insurance
ony guarantee
loss it against of $3,617,000 of its investiment from expropriation by Italy and guarantee it will be able to get up to $7,234,000 out of Italy in three years without loss from exchange restrictions United
Other traders evened-up May sudden demand when the news at much higher rates and are rangements bought by. Soc-: contracts anticipating first no tice day on April 25-six trad ing sessions hence. Open con tract in May at the start of trad ing today totalled 589,700 bales. The Commodity Credit Car- poration reported loan, entries for the week ended April 13
10,300 bales. with totalled Chrysler Corporation,
to 14.700 company officials predicting a drawals amounted record year in 1955, spurted bales, including nearly 3 points on demand which from the 1854 loan and 4,205 put
on the active bales from the 1853 stock. lists, topped only by Anco
The net stock of cotton in Manufactoring which triproned-
included Government hands fractionally. General Motors
2.817,805 bales from the 1954.
· added more than a point.
crop and 4,816,075 bales from Western Union continued in the loan programme. demand
as officials outlined a highly optimistic outlook for the company. It ran up more than 3 points.
it second
Olin-Mathieson and Block-
before ago 10,000 baler
Aust. Pearling Season
18.30 5000 à 18.20
200 G 14.10 1000 à 35%
50000 32%
Telephone.. 32% 32% 6000 225
281⁄2 28.30 1000 @ 28.50 200 28.90 17.30
INDUSTRIALS
Cernent
XIALL
Коре STORES, ETC
Dairy
13.30 1312 L.Crawford 23.30 MISCELLANEOUS
Watson
Albed
***** 4.8235
Singapore Stock Market
Singapore, Apr, 15. " Brokers today quoted the fol- lowing stock prices:
HOTEES FIRM theHotels continue firm and there were sales yesterday between $17.40 and $17.20 Their consider-Press. The effect of the change is, Iable asset backing is about the understand, simply to bring that only factor to justify their present company's franchise into
line high price. I mentioned a few
weeks with those held by other utility we
ore the Hotel com. companies in Hongkong and pany's annual meeting that higher dividends and new issues well-known businessman
Hongkong was trying to corner the market in these shares in an i shares are now possible.
2 better die to force Investors are possibly hoping attempt
the tribution. According to my in- changes which that the company has been advocating formants, many people in the for many years will bring in-market are playing on the hope
Canberra, Apr. 14 dividends this year. that the move will succeed for
The Minister D Commerce crazsed
Brokers
Agriculture, point out, however, the businessman has reportedly and
John MI temper | acquired a substantial number McEwen, sald endeavour to am.
in a statement that excessive optimism,
the of the Hotel company shares...... today that conditions applicable to Japanese pearlers operating Open interest changes are not likely to bring
section, most about any exciting increase in
in the Australian area will be Malayan Breweries... have held up well with
similar in the 1955 pearling singapore Cold Storage the company's earnings.
and the exception of Yaumatis
season to those prevailing last South British Insurance Stars which are under a cloud
Strate Trading · year. due to the investigation being cross-harbour
Trading volumes and oper intercets in the Exchange to day wort:
Morth May
Volume
41,800
son, Chemical continued to move July- up with talk of a merger in the Oct.. background.
2_200
589,700 $1,500
18,600
$45,300
Mar.
17.500 14,800
301,700
401,700
May
9,900
164,900
Both
Aluminium Ltd and July Granite City Steel responded Tou
3,700
47.700
to good earnings reports.
Of a total 1.205 issues traded,
926 were lower, 444 higher.
The New York Stock Ex- change bond volume was $3,- 670.000,
The
American change volume W3S 890,000
shares.
33,200 2,463,000 bales. NEW YORK
in
UNION'S BONUS
In the lay
¿ssues
+
Unions new boras issue of made into one for every nine held and its tunnel scheme by a British ex- increased final dividend (up pert. from £1 to 21-2-6) stimulated Prices of futures closed today demand for these shares which as, follows:
Spot
Biay
Stock Ex-
July
October
December
March
May Ju
156.87 6468
Dow Jones closing averages
were as follows:
30 industriais
20 rail tr
18 utilitie
63 #ocks
*4,22,48
LIVERPOOL
10 months
34.30
31.33
23.74
мой
He
Consolidated Tia
Bish Broneo Petroleum.
Syndicate
Opening
OrdinaryDNAK
& Neave Ltd.. Th eum. pres
Fraser & Negye Ltd., Ordin-
ary Ime (exdly) .....
30/14
30/34
1.85
$3.50
Hongkong & Shanghai Bank
Corp. Colanial Regter)
#315
$85
$2.70
311.00
- $28.50
Ordinary.
's
$14.75
$11.50
$2.00
$3.95
Rafles Hotel
# Straits Steamscip
| United, Engineers that licences explained will be issued to not more than Wears Brothers 25 Japanese luggers and other Hongkong Tin ships, all of which will operate Petaling Tin in specified areas off the Nord
Batas Lintang Rubber Co.
Chins Mall Special
Yeumatis have lost $t from have been their ex-ali price earlier this thern Territory and not less Kempas LXZ.
$1.25 and fluctuating quietly and unspecta-month
brokers do not
than 10 miles from land. Their Lanas Ribber Estates Ltd... $15 cularly. This week they rose to expect any significant
New Serandah Rubber Co. change activities will be closely super- until
Ltd. the expert's report is revised and the personnel will
$1.39 sh all time high of $1,025 on
by Government. the sale of a small parcel, and leased
The 33.BS
Länd in 3406-08 it is obvious that the pra ferry companies have indicated not be permitted to
ated Australia except in very ex thart
until they know Govern ceptional circumstances end ment's attitude
they are not with the prior approval of the NEW-YORK METAL prepared to undertake further Commonwealth Government- expansion work other than that United Press. already in hand.
34.23
258.10 Future closings, in pence per
$9.92 Comin, future price index.. 156.09. American middling were as
40 benda
Allied Chemicals
Allis Chalmers
American Metal
follows:
May/June July/Aug.
YESTERDAY'S PRICES
A
Alden Etc. Asy.
50.84-90 30.36.37
$101? 80
Det lov
Dec/Jan.
29.95 29.91
Mar/Apr
29,80
American Tel &
American Smelting
18021
SÃO PAULO
American Tobacco "B"
Anaconda Copper-
Armour
Balwin Lima,Hamilton
445
Bendix Aviation Corp.
MAY
Bethlehem Steel
1344
July
Boekig
Airplane
70%
October
Canadian Pacific Railway
20%2 December
Case (7. 1) Co.
March
Cafe Copper
449%
Baltimore & Ohio
Chrysler Motors
Commercial Crédit
Consolidated_Edison
Continental Steel
Corn Products
Crane Co.
Caban American. Sugar
Curtis Wright
General Electric
General Tooda
General Motor
Gillette Safety Bazor Goodrich (3. T.) Co, Goodyear Tire & Rubber Homstake Mining Co. International Business
Machines Yalernational Harveste International Nickel International Paper International 7d & Te John Boyle độ Lockheed Algerat Leows Incorper Lowe Star Cement Co. Montgomery Ward National Cash Bezister
ntion Distillern
National Lead ........
New York Central
Off Exevators menanda
'Pacific Gas & Electric
Radio Corporation
Beo Motors AL
Republic Steel
Shell Oil Co.
Sinclair Oil
Soecay VacuLUM Southern Railway (Corn)
Standard Brands:
Standard Oil of California Standard Oil of Indian Studebaker-Packard Corp. Swift & Co...
Union Carbide
---Union Pacifie÷ Raffway-
United Gas Imp
US, GYDELY"
TB. LA Co.
S.-BabbET JER
United States Smelling
17 US Steel 27
We Warner Bros.
De Westinghouse Velectric
Woolworth
Future closings, in cruzeiros
per klio were as foliqwys;
29.10
3,40 30.50
31,80 32.30
In the United States, the
was well
Easter announcement received on the market.
Cements continue to do well This week they stand at $28.90 and touched $29 on Wednesday,
World Rubber
Markets
Singapore, Apr. 14.
prices The rubber
eased slightly with sellers freer. There were some factory Interest and trade buying towards the close. Future closings:**
494 average price of 15/18 middling No
at ten designated spot markets
Apri May Jere
rubber per ib.
was finavailable today. Sales at No. a rubber per 10. April 2
433 these centres totalled 10,074 No. 3 rubber per 10. April 67-8714
NOT LIKELY.
The feeling among ‘a. number of brokers is that Government is not likely to go through with the plan as each new estimate of the cost of the tunnel pro- ject goes higher and higher. Dairy Farms have amotte
announced
a final dividend of $1.70 less dax which was unchanged on last year's, but the shares rose alight ly and yesterday were quoted at $224-about 70 cents better on the fortnight,
FUTURES
New York, Apr. 14.
Prices of cotton futures closed today in cents per lb, as follows: Lead
14.30b
$0.50b
LONDON METAL PRICES
April
My
*T**
April
May zine Apri
Copper April
-May
90.370 10.880
34.80b
United
London, Apr., 14.
was much
The tin market
steadier while other markets were steady but quiet. Prices! closed today in sterling, per long ton, as follows:-
1st bak
Tin spot In the Rubber section, there 3-month
Copper spot 84-304 has been little change in both
3-month and raw material Lead 1st half Apr unquoted Share prices
rates in Singapore and the
Zing 1st halt Apr. market has been quiet.
The share market there
prewends
fairly 99%-454% fore
steady undertone this wreck and I think the
fractional losses recorded in yesterday's do not presage closing prices: any general setback.
bales.
་
New Orleans prices were received ----United Press.
No. 4 rubber per ib. April 86-854, No. 1 spet rubber unbaled. 9014-00
80-81 not Blanket crepe
70%
043%
100%
New York Foreign
Canada
Exchange
ozicial 30-day futuTOS.
No. 1 pals crepe i
*NEW YORK Futures closed today 35 to 63 points lower with sales of 123 contracts.
2.79% 2.231
lted Press.
May July September December March
Aday
31.03 30.45
Of
WELCOMED IN HE,
undoubted assistance to
The terminai market follows the lower trend it London and Singapore, while factory buyers the market this week was the continued to mark time in the kite put up by Washington to spot market. Spot No. 1.Res
test
public Deaction to what New York, Apr. 14.
to be a slight 42.01-5/16 were quoted ob 31%% certs would appear
2.03-1.73 pound, nominal Futures:
the change a
American ad- 21.80-25 ministration's policy towards the defence of Quemoy and Matau and even. Formosa; in short, 20.06 there would be no auta
the committal of American forces to the defence of these ariens and that intervention would on the largely depend on th The market was rarely steady President's ment of the with spot down penny to 28 intent and exteal, of any Com- 3/18, pence. Prices:
munist attack:
American policy has therefore
London Foreign
Exchange
New York
(Montresi
sterdam
LONDON
No. 1 Bas spotka
"Settlement" house" tam :
May
Apr-14.
279-17/16 22.75-2/18-
June
Jan
2214
General
Amri
Bay **
·June
Estate crepe
urch
Jnited
23.25
clarified to that
the Wathington,
clatement was obviously wel
buyers' sellers.
71714
717 72735
Exchange Rates
SOT
2011 302
Business
was done in the local unomictal exchango market morning at the following rates US dollar per $1)
this
8.72
20415
Sterling notes (per £1)
Indonesian rupiah (per 1001
Siam ticals (per 100).
-Pruss
100%
Singapore (Stralia)
Indo-China plastres (per 100)
Silk
International
Conference
New York, Apr. 14.
Mr. Shigeru Tomioka, US Director of the Central Raw Silk Association of Japan, will leare here on April 21 for Brussels to represent the Japanese Government and its raw silk industry at the World Silk Congress in Brussels, May 9-15,
A# the major producer of raw Sholeh Maze Managing alk in the world Japan is ex Director of the Bow Silk Ex- pected to play an important porters Associatio role. "silk | congress. The
The The group will also include.
officials of the toy facets of the "Japan inner of Agriculture and industry, now eig
and of International than five million peop
They wil Mr Alvin Parber
[come Win's Hongkong for the leave for Europe on April 20 General of the Ingential Silk
Colony is always ready to take bears at well-founded optimism
{ ini tizim peryle of & joudi-taliging,
diplomacy, Especially when we are so near the danger point.
"Ashor
EXPERTS
include
Association (UBA) George Bhogany Pred [be among these repre
United Stabesi et the
"SUNDA"
FREIGHT - SERVICE
Ioads 17/18th Ape for S'pore. P. Swetted- ham.. Penang, Colomba, Aden, Port Sald. Alexan- dria, Genoa....... Marseilles, Havre, Londen, Antwerp, Rotterdam & Hamburg
from U.K. & Straita 'lends 29th. Apr. fer Kobe & Yokohama
due 20th Ape.
With liberty to call at Belawan before or after. Strails Ports and at Dombay it inducement offers. Tanks available for carriage of Oif in Bulk. - Space for refrigerated cargo. Limited Passenger accommodation
4
BRITISH INDIA 5.N. CO., LTD,"
due 13th Apr, from Japan sule 18th Apr. for Singapore, Hangoon,
Calcutta & Chittagong
"WARLA"
"SANTHIA" dae + pm 17th Apr.from_Japan
salts 10th Apr.
"SIEDHANA” dus.. 24th Apr.
the Singapore, « Penang, Rangoon & atta from Calcutta, Rangoon
& Straits
sadis 25th Apr. for Japan
“PENTAKOTA”dur 25th Apr. fram Rangoon & S'pore
P. & OB. I. JOINT SERVİCE "ORMARA""
due 28th Apr: from Japan mails 29th Apr.
"OBNA'
due
for
Port
Singapore
Swettenham Colombe,
Karagi, Basali, Kher, zarar & Kuwait
7th, May from Karachi Bombay,
Cochin, Colombo Straits
als 8th May for Japan
EASTERN & AUSTRALIAN 5.S. CO., LTD.
"EASTERN"
“NANKIN"
due 21st Apr. from Australia sails 23rd Apr. for Japan dàe:22nd Apr. from Japan sails 23rd Apr. for Sandakan, Brisbane,
Sydney & Melbourne
All vessels have liberty to call at any perts on or off the route & the route & salling are subject to change or amendments with or without notice.
For full particulars apply to:- MACKINNON. MACKENZIE & CO.
OF HONG KUNG LTD. Telephone Nos: 27721-4.
EVERETT
EVERETT ORIENT LINE
Fast regular freight
to service passenger Philippines, Indo-China, Rangoon, Calcutta
"LENEVERETT"
Arrives Salls
refrigerator
Korea, Japan, Siam, Malays, and Chittagong.
Apr 25 from Manila. Apr, 20 for Singapore,
Rangoon, Calcutta.
"REBEVERETT"
Arrives Splis
Penang,
Colttagong
"Apr 30 from Singapore,
Mayor Kobe & Yokohama (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast Fregular freight - refrigerator "servies to #apan, Malaya, Colombo, Bombay, Karzohl "and Persian Gulf. (Kubject to inducement for direct call, Korea).
THAI
Arrives Salls
Apr. 19 frota Singapore,
Apr 19 for Kobe & Yokoham
“STAR ARCTURUS”
AITÍVES-Apr 18 from Japan
Salls
Apr: 19 for Singapore Port Swet- tenham, Colombo, Bombay, Karach Khorramshahr Basrah, Kuwalt & Bahrein
(LIMITED FASSENGER ACCOMMODATION) CAccepting cargo for transkipptent Kobe/Pusammud Kobe/Okizawa)-
EVERETT STEAMSHIP, CORPORATION S/A
* (Incorporated hi the Repubile, or Fananis
Some with & Limited - Zixhitty).
از نظام با ادب به
Chinese Department: Telephone 28293, Queen Building lephone 31206.