TRADE and
THE CHINA MAIL, FRIDAY, APRIL 29, 1955.
COMMERCE SECTION
NEW ERA OF STABILITY FOR THE
RUBBER INDUSTRY Synthetic And Natural Will Compete On Equal Terms
.
Akron, Ohio, Apr. 28..
An American rubber manufacturer forecast today a "new era" of stability for the industry and said that hence- forth synthetic and natural rubber will compete on equal terms.
This new
era, Mr P. W. Litchfield, Chairman of the Goodyear Tyre and Rubber Co. said, has been ushered in with the passing of the nation's synthetic rubber facilities from Government to private control.
NEW YORK
STOCK
MARKET
. New York, Apr. 29. Steel prices cracked in the final minutes of trading to- day on disappointing divi- dend news for Bethlehem and touched off the biggest loss in industrial stocks since March.
at
The denn of the American ) up te the point of “adequacy"
be maintained rubber industry predicted that and should
He pointed out the countries in the Far East present levels. which are dependent upon that private industry runs cer- natural rubber will also become tain risks in buying rotation rubber from the Government us "more stable"
buying fresh compared imports.
said now that only small sogments of US total output of rubber goods call specially for natural rubber versus synthetic and vice versa, it was possible lo maintain high product quality the US could obtain so long as natural rub or for 25 per cent of its total needs.
INFLUENCE MARKET "Henceforth,
10
INCREASED DEMAND He forecast that world de- mand for rubber-now at the rate of 2,705,000 long tons--will increase, steadily and substan- tially in the years to come.
CEYLON TEA FOR LONDON
Colombo, Apr. 28. Existing restrictions on the export of Ceylonese tea for London auctions will be removed for a period of three months, the Minister of Agriculture and Food. Mr J. R. Jayawardena, stid today,
He announced the Scheme for relief of Ceylon's tea industry during dis. cussion in Parliament.
He said the Ceylonese Government will enter the
Colombo market as a buyer In the Interests of the tea industry. He also said that there will be no change in the present export duty on tea which will remain at one runce per pound. United Press.
TODAY'S SHARE PRICES
(From Our Correspondent)
T
HONGKONG STOCK EXCHANGE
"PEACE" MOVES PUSH
PRICES HIGHER
By A Special Correspondent
"Peace Hopes Brighten" said the banner headlines in yesterday afternoon's paper and in Ice House Street the stock market had caught the mood. Prices were moving up slowly but surely under the lead of Lands and Utilities. "Blue Chip” utilities were approaching this year's boom levels. *
The Stock
Exchange reaction to Chou En-lai's "peace" message on Formosa and Mr Dulles statement indicating that the American Government thought it significant enough to make further inquiries was rather slow in materialising.
Chou's statement was published | Electrics move up to $37 ($1.50 in the Sunday Press. Brokers higher on the week), Lights think the contradicting state- | follow after them (up 30 cents mont he made the next day and to $18).
the State Department's initial Yaumatis moved up a $1 but reaction insisting on the not too much can be expected presence of the. Nationalists at of either those shares of Star any talks, dampened enthusiasm. Ferries until the expert report
But as optimism grew in Lon-on the cross-harbour
tunnel don and Washington, buyers ap- scheme is released. peared on the Stock Exchange, Trams are showing e rise of activity increased and then prices 80 cents on the week (to 821) started to move up.
but Brokers say investors have not forgotten last year's strike are a little apprehensive
The turnover which
Accordingly, he added, "it is
ing amounted he said, "natural obvious that we must look to an and synthetic rubber will com- expion in the synthethe run Noon quotations and the morn- $1,870,000 yesterday. pete on equal terms. The most ber industry to meet these in- economical-to-use material will creased demands. United Press. heavily. influence the market price of the other?
Lo
In a statement. Mr Litchfield urged
the US to begin the stock- Bethlehem directors rubort-
irst quarter in piling of synthetic rubber ing a record
of guarantee adequate supplies in event natural rubber sup-
come, ordered a dividend
the
$1.50 a share drop from the sites in the Far East should be first quarter's $2.25 payment but an increase over the $1.25 cut off.
dividend last year.
Some in the financial com- munity had expected a stock split but Chairman Eugene Grace told stockholders such a move "doesn't scem Ivasible
this time
at
He said that the natural rub- ber stockpile has now been built
World Rubber
BETHLEHEM SLUMP Bethlehem slumped nearly 9 points at its low and closed off 8 at $135. Other steels follow inland, US Steel, suit with
Markets
Singapore. Apr. 28. The rubber market was quiet tradic inclination. and Wheeling down 1 points with little
Youngstown Sheet and Tube
or more, Republic off more than Future closings were:
point and National down No. nearly one.
to
rubber PK'T ib.
May June July
K-9014 89-891- unqualed 88-8214
KP21-91
80-81
Leaders in other groups alse No. 2 rubber per lo. May went off sharply-2 points each No. 1 rubber per 1b. May 37-874 in Du Pont, Chrysler, Westing-No rubber per lb. May
Spot rubber unbated. house Electric,
Blanket grepe No. 1 pale crepe
NEW YORK Futures closed today 40 to 50 points lower with sales of 141 contracls.
The industrial average, at new all-time high of 430.64 just last Tuesday. slumped points to 423.19."
4.91
The heavy last-minute selling climaxed a day which featured
World. Cotton
Markets
ing's transactions:
SHARES BUYERS SELLERS SALES BLANKS
HX Bank
.. 1530 1533
• East Asia... 212 INSURANCES
Union
Lombard SHIPPING
:
1030 1040 50
17c 8c 4000 @
To
2400 1500 (24.
was
Business done on the Hong- kong Stock Exchange this mornaround $800,000 on Monday and and
to $1,156,583.20. Tuesday jumped to a hectic about them. These shares re- Dain superficially attractive And brokers believe this with an 8.1 per cent yield, bullishness is not just a tem- | however,
UTILITY YIELDS., porary phase.
If there
Telephones is more good news
at $321⁄4 are 50 331515 from London (where the Cabinet | cents better on the work.
has instructed
Here Peking its
are the "Blue Chip" Charge to clarily Red China's Utility yields at present Lights intentions) on Washington, and 5.55 Electrics, 6. Telephones,
inward
from 4.7 and Yaumatis, 7.5 per cent, remittances overseas Chinese continue Event
!stores,
which EYO reasonably heavy (and Chinese generally a fairly quiet section, 30 23.60 Bankers say they are expected came in for demand yesterday, 495 a 23.80 to) I see market prices going All counters in this section
drew 300 @ 24.
still higher next week.
buyers and Dairy' Farms' Show 40 cents rise on the week to NEAR BOOM LEVELS $20.00. This was possibly at- Utilities are climb- tributable their good profit of Already A continuation of May con
Wheelock.. 1.50 1.26 15.900 2 7.20 | ing to the tract liquidation, plus uncer-
boom levels of $4,539,312 announced by Dr the tainties relating to future gov-LAND, LFC. emment policies on farm price support, production controls and subsidies, acted to keep prices
New York, Apr. 28. Cotten futures regained 2 foothold today after a shaky week but still closed on the downside.
the defensive. An irregular afternoon rê- covery was coupled with ap- parently sold out market condi tion rather than any buyers traders said. concentration, Trading turned quiet ол the rebound.
8514-832 Uppermost interest, aside frum the May situation, centred on 94-951ews of a Senate group recom- mendation for intermediate sale of 700,000 bales of Government- owned surplus cotton in oversea markets and the granting of an export subsidy if needed to pre- vent the accumulation of cotton surpluses.
Dealer interests were on both early irregularity, a second sides of the terminal market with hour's Aurry of selling which put the overall trend influenced by tickers behind as much as three the primary marke: action.
A small business in physical minutes and a subsequent meagre
rubber included sales of May recovery.
Turnover amounted only to four sheets at 30 cents, New 2,550,000 shares, smallest since York delivery, and one sheets April 7. compared with for New Orleans July delivery at 2,660,000 yesterday,
was
31 cents a pound. SUSCEPTIBLE
Future closings were: Commentators note the list May practically susceptible to July
September ot selling
the large December because paper proffs piled up in the March recent rise to all-time highs. The May selling today, together
The market was quiet. yesterday's loss, sliced nearly
pence per $2,000,000,000 from the value of closed in
all sted shares.
Rails
held
with
LONDON
follows: fairly well, with No. I Ras spot...........
Settlement house ter
losses ranging to 2 points in June Santa Fe and Union Pacific.
Asia Nav, DOCKS, ETC.
EL Whart Deck
Provident (0%)
.....11.80
12 1600
i30 125 110 1.60 1.90
- IK Hotel 171117.60 2006 17.80 January (on an ex-al basis). Hon. S. N. Chau on Wednes
FIK Land ....5935 0815 760 63
The demand for these shares day. 500 of 045 has touched off rists extending Waisons sold
504 65 200 * 65%
$13.40
at every section of yesterday--steady on last Mon- to virtually the market with one exception, day's sale price. Many brokers 2246512 the Wheelock Marden group. think this share is a good buy at S'hai Land 1.10 Humphreys
Wheelocks themselves moved its present yield of 7.4 per XR's 1620 161⁄2 900 / 16.20 up only five cents yesterday on cent. UTILITIES
Cements rose 20 cents on the 21.10 21.30 2300 21.10 two 1,000-lot sales. But I stick to
that week and at their present price original contention 500 @ 21.20 my
:
Ferry 0.38 1006 137 they are worth buying despite of $29 are, within a $1 of their Y'mndi Ferry 107 100 000 @ 106 the fact that there are many highest price of the year en an C. Light ro
XD
18.30 105 500 @ 12.40 brokers who are very disap-ex-all besie C. LIE (N)
with their poor show- pointed 14.30 14 1000 @ 14.20
500 130 138..... 1000 14.10
Tram
Star
RUBBERS MORE ACTIVE Yangiszes and Alled, as I Even
earlier, the big stocks-Unions said
were 'duli
and Electric 371 3500 3714 and Banks-joined in the ad- neglected. Telephone? 3215 690 @ 329 vance with Unions rising $15 on Nanyongs have announced a INDUSTRIALS
20 29.20 -2500 * 29 *
$1040 and Banks 60 cents final dividend making the week to Cement... Bopa XD 15.40
vary steady at $1535 on the sale ja dollar for the year, which giver. them an extremely good yield STORES, ETC.
Dairy XD 20120.70 318 @ 20:80 of 118 shares.
1800 20.80 Providents are firm at $11.90 of 11.3 per cent at their present
20.80 ... 13.30 13.401 ( 13.40 and with prospects of increased price of $8.80-8.90.
The rubber section has been 13. trade and math better earnings
Watson
L.
the
Crawford 25.70 Kwong San
Hong COTTONS
157
5.90
9
6.16 04
Foreign interest, led by Liver. pool brokers, were the outstand- ing sellers in early dealings, May
accompanied liquidation issuance of delivery notices for 4,700 bales the Liverpool market closed 7 to 13 points lower.
Trading volumes and open
31.15 interests in the Exchange today 31.11
were: 30.65
30.20 Month
29.95 Mary
25.50 July
October December
161,000
Volume
Open interesti
21,400
28,500
20.000
11,700
6.100
11,600 8,900
880,000 445,200
358,300 176,500 203,500
94,300 111,100 2,382,500 bales
NEW YORK Prices of futures closed today as follows:
Prices March lb, as. May July Total
2014-201
26-281-
July/Sept.
Jan/Mar,
25424-2532 259-25 203-204
Spot May
2011-202% July
2012-282 Oct.
25-228!
Dec.
thin
£27-0 201
Mar.
May
-United Press,
July
Non-ferrous metals were hard Oct. Dec.
hit Aluminium lost more than General markets, cif basis, ports:
2 and Anaconda Copper nearly May
2. Of 1,208 issues traded, 707 June
July
The New York Stock Exchange Estate crepe thick May
were lower, 271 higher.
bond volume was $4,060,000.
The American Stock Exchange
volume was 740,000 shares.
New York Foreign Exchange
England-official
New York, Apr. 28.
62.707% unoficial
3.71-2.73 30-day futures ... 27031⁄2 30-day futures... 2.78% Canadian dollar rate:
London Foreign
Exchange
New York
Montarci Arrarterdam Brussels Copenhagen Lubon Calo Part Stockholm
NEW ORLEANS
Textles Nanyaug Yangtze Allied
2000
in the first quarter of this year, slightly more active with rates
showing a fractional improve 70 158 they are due for a rise soon.
"Since Wharves sold at $78ment.
about ten days
shares
have
these ago been quietly
4.50 4.94 14500 494.9215 moglected. A seller is offering New York Sugar
Singapore
Stock Market
$79 but there are no bidders. *Hotels (up 40 cents on the week to $17.50) and Lands (up $1.50 to $853 are firm at yester day's levels. "
- FURTHER MOYES?
Market
New York, Apr. 28. World No. 4 sugar futures closed 1 point lower to 1 point
That Hotel share-buying bid higher with sales of 123 cop- by A. Hongkong businessman tracts. mentioned recently" in this
Domestic No, 6 sugar futures column has come to a temporary closed unchanged to 2 points halt,
I hear. His object was to lower with sales of 79 contracts, Cornét enough of
World contract ruled mostly the shares to force the Hotel company to steady following the prompt. pay a higher, dividend. I have absorption of 187 delivery notices against the May contract, no idea how many shares Tartunlly bought but from Ice Future closings were: House Street I understand that Contract No. 4 (world)
day
he
Singapore, Apr. 29. Brokers today quoted the following stock prices:
30.30T
Opening
33.53
33.67
British Borneo Petroleum
Syndicate
33.84
3.85
Consolidated Tin Smelters
Ord.
13.83
34.012
308 54 Fraser & Neave Ltd., Ord. $1.43 Fraser & Neave Ltd. 1%
33.45
cum. pret ..................
$6.60
Hongkong
Shanghai
Banking Corp. ...
Malayan Brewerica
$815
*3,80 12.02
it was a
"Eubstantial number.'
There may be
33.350
3.65
Singapore Cold Storage Y $1.7) South British
July further moves
Sept. situation later is the farth
Insunnes
05.70-71
Co. Ltd. Straits Trading.
May July
$25.00
33.82
United Engineers Ord.
31440 $11.30
31.08.
Wearne Broɛ............
$2.77
The best
34.
Hongkong Tin Ltd.
Ta 60
courge,
23.17
Petailng in Lül
$4.30
Batu Lintang Rubber Co.
Ltd,
Prices of futures closed today Raffles Hotel.....
as follows:
Spot
May
July
London, Apr. 23.-
Dec.
Mar
MAY
2.70 13/15-2.797
2.76 83/16-2.78%
10.15-10.651 $40.00-140.0215 29,60-19.40% 80,30-8040 20.011/ 29,01%
08114-0017
Future
#8888
Id
Steamship
21.30
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENCER/FREIGHT SERVICE -
Leaves London Das Hongkons Sailed
Outwards "CARTHAGE" "CORFU"! "CANTON"
"CARTHAGE"
"
flamewarda
:
2nd May
20th May
25th May.
June
27th June.
21 July
Via Southampton, Port Said, 'Aden, Rambsy, Colombo,
*"CHUSAN"
"CARTHAGE"
Penang & Singapore
Leaves Hongkong
2nd May
“CORFU”
"CANTON"
4th May
3rd June
1st July
Due London
30th May
5th June
3th July
1st August
Via Singapore, Penang, Colombo, Bombay, Aden,
Fort Bald & London
•* ́Also calls. Marselies.
"SUNDA"
*SHILLONG"
"SUNDA"
FREIGHT SERVICE
dre
1st May from U.K." & Straits loads 2nd May for Kobe de Yokohama Kads 5/8th May tur S'pore. P. Swetten..
hara. Penang, Colombo, Aden, Port Said. Alucas- desa, Genoa, Marseilles, Haute, London, Antwerp. Rotterdam & Hamburg
ports 29 "SHILLONG" above
loads 28/29th May for
With liberty to call at Belawan before or after straits Ports and at Bombay if inducement offérS. Tanks available for carriage of Oll in Bulk Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD, "SIRDHANA” dus 14th May from Japan
salls 15th May
“FULTALA" "due 8 June
"SANTHIA"
sails 9th June
for Singapore. Penang, Rangoon & Calcutta from Japan
for Singapore. Raziyora & Chittagong due 10th May from Calcutta, Rangoon
& Straits sa 11th June for Japan
P. & 0./B. 1, JOINT SERVICE
dec in May from Japan salls 2nd May
"ORMAKA"
for Singapore, Port Swettenham, Colombo, Karard, Basrall, Khor razzabakr & Kuwait.
6th May from Karachi. Bombay, Cochin, Colombo &
67
als 7th May
"ORNA"
due
"ORDIA"
“OZARDA"
que 11th June
malis 12th May dos 18th May kalls 10th May
Straits
for Japan
from Kakinada, Madras & Straits for Japan
from Japan
for Singapore, Penang, Madras, Karachi, Bas
rah, Abadan.. KhorzoKTA- Lan Ốc Kuwait
EASTERN & AUSTRALIAN S.S. CO., LTD.
due 15th May from Japan'
"EASTERN"
"ARAFURA”
salls 16th May for Sandakan, Brisbane,
Sydney, Melbourne Adelaide
dos - 24th May" from Australia
alls 25th May for Japan.
All vessels have liberty to call at any poris on er of the route & the route de sailing 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.
EVERETT
LINES
EVERETT ORIENT LINE
refrigerator
service to Korea,
Japan, Malaya, Chittagong,
Fast regular freight passenger Philippines, Indo-Ching, Siam,
and Rangoon, Calcutta
"REBEVERETT"
Arrives Salls
May 4
May 5 for Kobe & Yokohama,
"NOREVERETT"
Arrives
Sails
May 21 from Singapore, May 22 for Kobe & Yokohama, (Accepting cargo for transhipment » Kobe/Pussu and --- Kobe/Okinawa}
EVERETT STAR LINE
Fist regular, freight refrigerator service to Japan. Malaya, Colombo, Bombay, Earschių, und Fersian Gulf..
·(Bubject 'to inducement far direct call 'Korea)
“STAR ALCYONE”
BAD.
Arrives Bail
"THAI
Press
Arrives Sals
May 8 from Singapore, May -9° for Kobe & Yokohama,
May 18 from Japan,
May, 19 for Singapore, Port Swet
tenham, Madras, - Colombo, Karachi Bashbah, Kiwalt & Bahrein
1010 NEW YORK METAL
FUTURES
New York Apr. 28,
Exchange Rates Metal Intimes closed today in
centa perib, as follows;:&
Buses was done in the local Lead
Mey
unofficísi • exchange
market thes
weining at the following-malerie
Tin
Mday:
U.S., dolier (per $1},
Sterling notes (per. £1) 255 (13.77 || Zine
Indonesian rupiah. (per 100)
621
2
Juné
MAT
estam dies (per 100)
Singapore (SUTRADE)-DON
Indo-Cima, plastres (per 100).
·June Miy 27.85 Copper
L31
-- June 8.97. b-bid t-traded.
United
in this year when the Hotel company receives a large instalment from Sept. pond the syndicate which bought the Spot-fcents per ib. top Cuta)
Pedder Street plot.
Contract. No,
$3.40 Kempas Ltd. LIVERPOOL
American Lunas Rubber Estales Ltd. $1.90 closings, middling, in pence per lb. were New Serandah Bubber Co.
Oct/Nov. Dec/Jan.
·Mar/Apr..
BAO PAULO Future closings "in cu
per kilo were as follow May
October
December
113 90.90b 50.351
14.20b MarchWater
In the United States," average price of 15/16 met
10.88 at den designated spot.
10.3**
was $3.38 cents, 7-Sales
* cum div--China Mail Special
LONDON METAL PRICES
London Apr, 28.
All metal markets were steady 90s today: Prices closed in sterling $200 per long ton as follows
Vbuyura.notlars
58.005 Centros totalled 9,938 bales
ups United Press.
5330 | Tin spot o
the 3-month
¿Copper; spot invoke 12131
3-moots.
Land “Zod
zine, ind
of July movements,
Sept. have
occurred ám
Nov.. tities. These shares ane Mar generally the market.
pace-May
tents per, ib cit. setters and they tend to interact Spot
ex-duby) upon each other. Thus when
MESSAGERIES MARITIMES
PO Box 53 | Queen's Building - Tel: 2884)-
"CAMBOD
LAOS"
PASS
/FREIGHT-SERVICE:
EVERETT STEAMSHIP CORPORATION 5/A
falling May 21st sailing June 18th
Chinese Department: Telephone Queen's Building, Teles
28293.
31205.
FAST FREIGHT
VICE
PEIHO
BIR HAKELME
May 12th June 25th
Buyers Seller
14309-145501
as follows:
Spot: Close
Hie Low
101 1MY 101 1/32 1.61 1/25
1.01 5/21 1.01 1/20
West, Marke
Dibers Pix:.
11.78-11,782 unchanged United
May/June
July/Aug.
·Wabana; 20-day 90-day G-month
1,01% 101
1.015/3
--1.01 5/32
100%
Unded Press.
(LIMITED PASSENGER ACCOMMODATION). (Accepting "cargo for trinki pomeni
„Kobe/Puzsu- and -Kobe/Okinawa)“;