THE CHINA MAIL, FRIDAY, JUNE 3, 1955.
TRADE ` and
and COMMERCE SECTION
RUSSIA RESUMES RUBBER
NEW YORK
STOCK MARKET
New York, June 2. Stocks marked another upside session today despite some late profit-taking.
Special issues were the best performers, with gains ranging to more than two points while most leaders rose only fractions to a point.
い
PURCHASING
After An Interval Of Nearly Three Years
London, June 2.
Russia has started large-scale rubber purchases in the British Commonwealth after an interval of nearly three years,
Trading was at the best pact official sources reported today.
since May 12, totaling 2,510.00 shares compared with 2.510,000 yesterday.
Slocks of the Sperry Rand
combination were in demand
again, Sperry Rand when issued; the day's most active | stock, gained ( 14 $25. Sperry ran $81 and Remiraton to $50%.
The Soviet also has resumed sales of gold and silver in Europe and has once again modified orders placed with.. British industries.
Mosepw's economic moves are points to puzzling economists here nearly up4% to 28 much as her political actions Rand 21⁄2 keep Western diplomats guessing at what the Kremlin is really jup to
STEELS GAIN
There was some recovery in About three years ago Russia the recently weak aircrafts, with was
buying up rubber in Lockheed up. Bendix a
Britain and the Commonwealth point and Boeing
markets in alarmingly high quantities.
con- The West's security Steels had gains of more hassiderations lett to a restriction a point ench in US Steel and jot these purchases to quantities Jones and Loughlin, nearly a which were held to be com point in Armen and point in Bethlehem,
Chrysler featured motors with fractional gains,
patible with the normal civilian requirements of the Soviet
economy,
Soviet satellites, too, appeared as formidable purchasers of rubber, a large proportion of was suspected to have found its way ultimately to Ruşsin.
Liquors were in demand with Set Frams adding almost which Sehenley and National Distillers about a point.
RESISTED
Industrials as a group averagedi 1.72 points higher
Britain rails 0.15
resisted American higher and utflies 0.19 higher pressure at the time to put tube Movement in rails was very (ber on the list of embergoed narrow with the only change of goods for Iron Curtain nations. any size a gain of 14 in Great but she agreed to limit supplies Northern.
to the Soviet to a total of under 80,000 tons per year.
Or a total 1,797 traded, there. were 508 higher. 44! lower on the day
All of a a sudder and without explanation So- any plausible
in Europe alone.
Sterling Area Reserves
London, June 2. The sterling area's gold and dollar reserves stood at $2,686 million on May 31 the same level as at the end of April, the British Treasury announced today.
In April they had risen by $19 million after falling by-$14-million-in-March- and by $82 million February. China Special.
New York Sugar Market
New
futures
World No. 1 sugar closed 1 point lower to 1 point higher with sales of 51 contracts, Domestle, No,'6 sugar tulures closed I point higher to 1 point lower with sales of 330 tracts,
COR-
World fau.es ruled quiet and irregular as traders awaited news from the sugar council meeting in London and 3 possible further increase in world export quotas,"
Trade covering orders pre- dominated in the domestic con- tract, Fatures:
Contract No. 4 (worki)
Sept.
Oct.
March
May
July
Sept
Spot-cents per b. fob Cubal
Contract No. 6
London Foreign
Exchange
3.58
July
Aug.
Sept.
Nov,
London, June, 2.
March
Montreal
2.75-7.75-3/16
Mar
5.53
Amsterdam
Spot-cents per lb. cit NY
ex-duty)
5.83
United Press.
saving her reserves for urgent about $2,000.000 worth of silver
Bruels Copenhagen requirements,
Between the autumn of 1953 The current revival of large- Lisbon
the West wit-scale rubber purchases by the Parts and Last spring.
West Mark nessed, in fact, "Russian gold the Soviet suggests, according selling pree which was believed informed sources, that the gold & Others were
he designin to help real sales might have been designed : Press.
the required turi Morcow's depleted currency re- to provide serves abroad.
rency to finance these latest im- ports, but there is no confirma- tion of this.
That spree suddenly stopped a year ago and Russian gold was no longer seen an international markets.
RESUMED
Less than two months ago the Sove suddenly csumed gold and silver sales in London and in some European markets,
Again, there was no official explanation why within a period of two weeks Russia sold some $6.000.000 worth of geld and
World Cotton
Markets
increase
The quantity of rubber pur chases are not disclosed. Reports today
spoke of large tonnage" for bought for June and July shipment from Singapore via London and other British ports.
They
also suggested that further considerable purchases were anticipated.
To this puzzle Russia has once again modified her policy on contracts which she had pla in Britain in previcus months.
CANCELLATIONS.
10.6 10
139.225-139.95
19.41-19.41 30.70-80.90
21.7371
12.24-12.44 unchanged-United
Exchange Rates
New York Foreign Exchange
unofficial was done in the local exchange market this morning at the following rates: US dollar (per 1
Canada 3.80 Erstand official Sterling notes (per £1 Indonesian rupiah (per 1001 Siam ticals per 100) Singapore {S} Indo-China, piastres (per 100)
24.50 Belgium
18 Argentina 7.87
New York, June
1.81-19/33 2,79% 2:78-31/32 2.75-5/22
0109-7/10 0724 United Press.
30-day futurės 90-day futures
HONGKONG share MARKET
Prices Continue To Rise On Stock Exchange
By A Special Correspondent
With the General Election over and the Conservative Government back with a majority of 60 seats, the Hongkong Stock Exchange continued its rise this week to even higher levels.
A few weeks ago Russia noti- fied British firms that she wanted to cancel millions of dollars worth of orders placed for consumer goods and con- summer goods producing machinery by the Malenkov - New York. June 2.
gime
The shift of emphasis to heavy Cotton prices edged irregular- The New York Stock Ex-vict purchases began in 1953 toly higher in quiet dealings to- industry in Russia apparently change bordo volume was fall to a trickle.
day.
caused the Moscow decision to $3,875,000.
Some observers believed, that Despite heavier producer seek cancellation of orders for The American Stock Exchange Russia
bad built up sizable loan redemptions,
with the goods other than machinery and volume was 830.000 shares. siceks, others argued that pro- consequent
the the like, in Dow-Jones closing averagesduction of synthetic rubber had "tree" supply. and
British industrialists Renerally
have favourable crop news, nearby since made
strong representa- deliveries
showed small goins tions and some were reported to most of the time.
have -sent representatives 151
The pace of the advance slackened con- Closing on a mild rally the Moscow to argue their case. list finished
Latest reports said that many siderably this week, however, and with one or potnis 5 to 17 A third reason finally was higher. Open prices were un- of these have since been able 10 two exceptions, Utilities are still slightly below. that the Russians had been run-changed to up 5 points.
contracts ning short of sterling and was
Oricans
an their best levels of the year. goods and closed up .10 13
to machinery by agreeing to y points.
slight adjustments.,
On the morning call yesterday",
Star Ferries moved up $8 to new October contract,
Observers here are wandering the undertone appeared uncer-$146. According to rumours in where dealings commenced
whether these developments re- itain and prices fluctuated frac Ice House Street this was be- World Rubber yesterday, lagged en scattered Beet a new change of policy ortionally cliner way. Er in the cause the company had decided
plain confusionUnited afternoon, prices lenúed
lo to go ahead with. The building of harden leaving the mar- six new ferries. ket firm and steady and slightly higher on the week.
were:
.
3
industrial>
20 rutis...
15 utiles
65 stocks
bonds
Comm. future price inches
325
160.23 $4.0
150 43
99.75
-153.4
YESTERDAY'S PRICES
Alden Inc. Acy.
23.
Allied Chemicals
Allied Milis Inc.
Allis Chalmers
American Aulne
American Cvanumide Co.
American Metal
American Snelting
American Tel & Tyl
American Tub, "13"
Armour........
Baldwin-Luna-Ham.
Balamure & Onio
Bendix Aviation Corp.
Bethlehem Steel
Boeing Airplane
Borden (The) Co. Burroughs
Canadian Pacifle R.
Case (31) Co
CRIT. Flanell Corp.
Chase Nat. & Man.
Chrysler Motors
Crane Cu....
enables the
Soviet to reduce substantially its purchases in The free world. Now sources of supply were also believed to have caused the change.
Markets
Singapore, June 2. The rubber market ruled stendy
on trade support and overseas orders and became irregular towards the close.
Future closings were: 4944 |No. 1 rubber per tb. June 1955-93% July 921-925%
The
New
save consumer
seiling based on the belief that just ultimate farm legislation may Press. lower
price supports and in- crease acreage allotments on the 1956 erop.
were
again the Government 'can.
Liverpool brokers moderate sellers of the new crop months in the forenoon. "Spot firms sold Oct. Det, and March contracts. supposedly hedging;
the purhase of farmers
Some commission house buying was based on technical reasons Aug unquoted following four days No. 2 rubber per Jb.
of slowly 809Sagging values. 87-872 Trading volumes and open in2 | 945-94 terests in the Exchange today|
*
June. 351-01
Open interest
484,700
Commercial Credit
5512
Communwenith Elec.
42
Consolidated Edison
49
No. 3
Certinental Ost of Dv1.
No. 4
Continental Steel
30%
Corn Products
28
Spot rubber unhaled
Blanke: crepe
33-84
Cuban Amer. Sugar
16
No. 1 pale crupe
99-09
Curtis Wright
201
were: Month
Duport de Nemours
197
NEW YORK
July
Volume 40.100
(Oct.
23,300
494,500!
Eastman Kodak
El Paso National Cas
40%
Futures today closed 5 to 20
Dec.
26,600
550,000
Mar.
1,300
225,400
General Electric
General Fooda
General Motors
points lower with sales of 207 contracts,
May
10,100
234,009
July
17.900
141,800
pet..
16,800
14,900
Gillette Safety Razor
70
Biggest part of the trade was Total
149.500 2.190506 balen.
Glidden Co. ...... Goodrich (2. F.
Co.
Goodyear Tyre posla Homstake Mining Co.
Int'l Duxiness. Machines
Int Harvester
International Nickol International Paper Int'l Tel Tei Johr-Manville Ca. Kennecolt Copper Lockheed Aircraft Lowe's Incorp..... Lone Star Cement Co. Minnesota Mining Monsanto Chemical Co. Montgomery Ward National Cash Reg. "A"
National Distillers National Lead
Steel
Nationwork Corp.
New
Ous Elevatora
Pacific Gas & Elec.
Pacific Western Cil
Pan American Airways
Paramount Pictures
107
272
84
represented in trade switching Prices of futures closed today
operations, including 50 lots of as follows:
July for physical rubber and
exchanges of March-July con- ! tracts, with dealers mainly in-spot volved.
1092 Despite increased hopes for a
July
October December settlement of the auto March 45% mobile labour negotiations, the May July spot market ruled quiet with factories marking time. Ship- ment offerings generally were reported
above a workable
130
41
71%
Spot No. 1 Rss held arounki
641 31% cents, nominal. Futures;
414
072
July Sept,
47%
Dec.
43%
Mor.
213 May
43%
Penny J. C. Co.
July
Pollige Petroleum
24
Procter & Gamble Co.
96-14
Pittsburgh Plate Class
75
Radio Corporation
-54.
Rea Maters
Republic Steel
Shell Oil Co.
Sinclair Qu
Socony Vacuum
Southern Railway (Com.)
Standard Brands
LONDON
3190D
31,75
31.30-40
TODAY'S
1!
SHARE PRICES
Market jcbbers obviously see small profits to be made and I would not be surprised to see light-scale profit-taking again next week.
Yes
Mr G. B. S. Thomson, secre-
of tary denied this, however.
the terry company.
there had been no change in the He told me yesterday that
company's decision and that was to build two new this
ferries year and to convert the Golden Star" to diesel propul- ston
the
Some brokers seem puzzled by the price movements this week There was a passionate certainty in Ice House Street last Thurs-
"Reference was made in that if the Tories won the day
annual report to the possible election, up would go prices.
building of a further four ferries they
did go up, but pot
next year, but Mr Thomson said as decisively as had been.CX-
no decision would be taken What did surprise me pected.
this until next year. was the alarm and apprehension (From Our Correspondent) with which local people spoke lieved the Company had assured Apparently speculators be- Business done on the Hong-of a possible Labour victory last itself that Government did not
week and the effect a change intend kong Stock Exchange this morn of government might have on harbour tunnel project and to go ahead with the ing amounted to $710,711.75 Lite Colony. Among these same had now given
Noon quotations and the morn- ing's transactions:
SHARES BUYERS SELLERS BALEY
BANKS
-
NEW YORK
34.75n 13.83
HK Banks Eant Axta
1095 1700 100 1700
24.00
INSURANCES
34.08-30 34.00 34.25
"Union X All 020
Lombard XD
33.38
Underwriters
33.45
SHIPPING
October (new;
NEW. ORLEANS
Asia Nav. Prices of futures closed today pocKS, ETC. as follows; Spot July October
Provident
(old)
11
people this week there was cer steam ahead tainly relief but also apathy as
the order "Ful
for the comple-
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Leaves London Due Rougkong
Outwards "CANTON" "CARTHAGE" 22nd June
"CORFU"
"CANTON"
3xiled
20th July
17th August
www.1
June
23th July
And August
19th September. "
Via Southampton, Part Said, Aden, Bombay, Colombo, Penang & Singapore
Leaves Hongkong” Die · Lozdan
1st July
Homewards
"CANTON" "CARTHAGE" 28th July "CORFU"
"CANTON"
26th August
1st August
29th Aurust
17th September
23rd September 24th October
Via Singapore, Penang, Colombo, Bombay, Aden,
Port Said & London
V
FREIGHT SERVICE
for Moji, Kobe. Yoko- hama
"SOUDAN"
Jue 4 June
from UX & Straits
sails 5th June
"SUNDA"
loads 29/30th June for S'pore. F. Swetter- ham, Penang, Colombo, Aden. Port Said. Genoa, Marseilles, Havre, Log- don." Antwerp. Rotter- dam Hamburg
With liberty to call at Belawan before or after Atralta Forls and at Bombay if inducement odera. Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
„“FULTALA”
dne 8th June trom Japan sal Bit June for Singapore. Rangoon
& Chittagong que 10th June from Calcutta, Rangoon
& Straits
"SANTHIA"
"SANTHIA"
due
salis 11th June. for Japan
1st July from Japan 2nd July far Singapore, Penang.
Nangoon & Calcutta
P & 0./B. 1. JOINT SERVICE "OLINDA"
0th June from Karachi & Bombay
etc.
"ORNA"
"ORDIA"
duc
sally 7th June for Japan due 14th June from Japan valis 13th June
due 18th June Nalls 12th June
for Singapore, Karachi, Bastan, Khorramshahr Sc Kuwait
from Japan
for Singapore, Madras, Cochin,
Bombay Karachi
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLORE"
"ARAFURA"
due 10th June from Australia Nails 12th June Tat Japan due 21st June from Japan salla Bird June for Sandakan, Brisbane,
Sydney & Melbourne
Ali vessels have liberty to call at any ports on or off the route & the route & säiling 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.
EVER
LINES
EVERETT ORIENT LINE
Fast Regular Freight Refrigerator Passenger Service Loading for Bingapore, Penade, Rangoon, Calcutta and Chittagong.
"REBEVERETT"
"NOREVERETT”
BRADEVERETT""
"LENEVERETT”
In Port Leading Arr. June 27
- July 13 July 25
Sails June
June 2
3
- July 34 -July 25
Loading for Kobe, Osaka, Nagoya, Yokohama.
#BRADEVERETT”
"LENEVERETT"
"REBEVERETT"
it
if; after all, the result had beention of the $10 million develop-
Thement programme, conclusion. a foregone
This is not so. The company feeling seemed to be it was all over now and there was nothing still waiting to hear Govern- to worry about for another Avement's intentions and until
doci 50 there is unlikely to be decision on future develop- It may be that attitude that ja is reflected in the market movement projects. But in the mean- time, of course, work already undertaken will be continued.
Mr Thomson's belief is that the flow of inward remittances
years.
51 100 5011⁄2ments this week.
70€
3000
BULLISH SENTIMENTS The international
sliuation
ao continues to favour the market.
The release of the four Ameri-rom overseas Chinese investors has favoured his company's shares.
can
K, Whart 7355 Dock
2432
.73·100 @ 74.
34.50
December
34.07
13.40
March
34.10
Wheelock
... 7.35 7.40
36.956
May
34.14
30.00
July
3.34.39 LAND. ET".
30.30
Octuber (new)
33.38
TIK Hotel
17 10.10 1500
17,20
LIVERPOOL
OB
Bd
Future
The market was easy. No. 1
153 spot Rss were quoted at 28's
pence per lb. Prices:
00% No. 1 nas esot...
85
533
5402
99
K
Sellement house term:
July
August
July/September
October/December
Jersey/March
172 Generat markets, cif basis,
Standard Oil of Cal.
Standard Oll of. Ind.
43
Standard Oil ́DI N.J.
1117
Apri/Jane
Stockley Van Camp.
Studebaker-Packard Corp.
June
Swift & Co.
5006
Текая Са.
Union Carbide
Union Pacife Railway
10014
July Aust Estate crepe thick June.
thin
United Aircraft many
U.S. Gypsum
AMSTERDAM
U. 9. Line Co.
2214
U.S. Rubber
13. Amelung
·U.S, Steel
Warner Bros.
Wastinghouse Electric
Woolworth
2744-20
27-28
The market was steady. Prices
51% closed today in guilders · per.
| kilogram, Cir, June as follows:
2
No. 1 rubber
No. 2 rubber
45% 4612 -United ProRS.
No. 3 Tubber
No, 1 crepe
West Va. Pulp & Paper
closings, American
middling. in pence per lb. were
HK Land..
Realty 2015 2.10
UTILITIES
MARKET AT A GLANCE
1000 17.10 prions therefore tend to Unions
Tram... 02.40 22.80 2060
Star Fetry.. 145 118
airmen is generally inter- preted as a move by the Chinese to reduce tension and the pros- ceasefire pects of a de facto seem to be
be improving even if
an Here in brief is a picture of agreed ceasefire is no Garer the market: Banks have made realisation.
ja net gain of $20 on the week, are up by about: $5, bullish sentiments. But Wheelocks at $7.35 are 10 cents I still think that the present better, Wharves are $22 better high rates discourage genet $74, Docks are a dollar better tral demand and I think that on the buyers' rate and Pro- 223 for the small holder who is vidents are up 30 cents to $13.40. Sis looking for a fair return for is Hotels
10 be frac appear shares worth tionally easier, Lands at $69 are 20.50" outlay, the only
buying at present are Wheelocks, up $1, Trams are 40 cents better at $22.40. Yaumatis, $3 better at China Providents, Yaumatis and at Cements.
bts are up 80 cents to This were while demand for
over their all time high" gilt-edged stock, lands and level, Electrics at $40 are about "Blue
Chip Utilities continued, 50 cents below their bert price interest swung away to other of the year and 75 cents up on
the week, 20 shares...
Cements are up and Docks have cents to $30 and Dairy Farms Wharves made good advances and market
50 cents to $21.30. Alilleds
as follows:
July/Aug.
31.13
Y'mat Ferry. 118
119
Oct/Nov.
30.19
C. Light (0) 20.40 20.50 7200
Dec/Jan.
30.19
Mar/Apr.
May/June
29.04 20.82
SAO PAULO
C. Light (N) 18.20 18.30 3200 16.15 Electric
40. 1595 6 40 -100039 3344 33% 500 L 235
Cement
$0.70
Repe
STORES, ETC.
28.00
Dairy......
Watson
Crawford 25.00
Telephone. Futures closings, la cruzeiros INDUSTRIALS per kilo were as follows:..
July
Dec.
Mar.
May
12:00
23.91
13.40
In the United States, the aver. age price of 15/18 middling cot-
2.74 pairi ton at ten designáled spot mar” 272 buyers kepts was 33.85 cents. Sales at 2.70 buyers these markets totalled 5,247 2.84 buyers United Pres.
Pau)-[eq
*
COTTONS Textiles
Nanyang
1500 21:20
are up 50
14.20 14.40, 30 feeling is that in the event of a are fractionally lower while
land sale, both companies stand Textiles are also lower and to profit by present rates." the doldrums.
Watsons have risen from 313.30-7: Without, being • very
bri
much
105 1.76, 150 9 7.85 to $14 and although there is a more active, rubber share prices.
lot of speculation on the reason are a little higher following the for the rise, no one seems to have frise in the Singapore raw, tub» 4,80 4.871⁄2 6060 @2s, any real idea,
ber rates.
MISCELLANEOUS
Yengine Allied
014
"NOLEVERETT"
June 20
Arr. June 16 Sells June 17
-June -July 25 19
24 mim Jus
Aug. 18 LIMITED PASSENGER ACCOMMODATION, All the above subject to alteration without notice.
EVERETT STAR LINE
FAST REGULAR FREIGHT REFRIGERATOR SERVICE
Loading for Singapore, Port Swettenham, Madisso Colombo, Bombay, Karachi & Persian Gulf Port
Arr. June 14 July 14
“STAR ALCYONE" "LAG"
*STAR BETELGEUSE"
“STAR ARCTURUS” "THAI”
Balls June 15
July 15
Aug. 2
Aug. 20
Sept. 7
-- Aug.
Aug. - Sept. 8
Sally Jers
14
July
July
·· Loading for Kobe, Omka, Nagoya, Yokohama,
**STAM BETELGEUSE“
"STAR ARCTURUS” *THAI"
"STAR ALCYONE"
*
Arr. June 73
Suy
July 28
-- Aug. 31 min,pm Aug.
-- Aug. 31
Sept.
LIMITED PASSENGER ACCOMMODATION.
All the above subject to alteration, without mailze.
· EVERETT STEAmship corpoRATION S/A (Incorporated in the Republie of Panam
with Limited Liability),
Chinese Department: Telephone 28293, S" Queen's), Building, Telephone 31206.