TRADE and
.
THE CHINA MAIL, TUESDAY, JULY 26, 1955.
COMMERCE
NEW YORK East-West Trade
STOCK
MARKET
New York. July 25.
AMERICAN BUSINESSMEN
Highest grade industrials! CAUTIOUSLY OPTIMISTIC
-steels, motors, oils and! metals soured fajny while the rest of the market held firm in moderately active ! dealings.
With Us Steel directors meet- ing for dividend action tomorrow and Bethlehem board meeting on Thursday. demand for steel shares was heavy,
is
Bethlehem, where Wall Street looking for a stock split, piled ip 54 points to $160%. Young-
stown Sheet and Tube, slated for merger with Bethlehem rost 2% to $014.
US Steel added
more than a point. Demand centred in US Steel, followed in the actives by General Motors,
in
GM SOAR
By JOHN MORKA
New York, July 25, American businessmen remained cautiously optimistic over the chances of expanding East-West trade despite the seeming hardening of the Soviet position at Geneva on what to do about Germany and European security.
It is felt here that even if the Big Four should fail to reach concrete agreements, the face-to-face exchange of views by the government chiefs at this time might conceivably lay the groundwork for future negotiations leading to a general easing of world tensions.
economy,
امسا
General Motors, whose direc- tors recently ordered a three-
Observers here rec favourable (although not altogether a wenk for-one, soarel more than 4
KON jr points to $133.
the air of cordiality Guins
the
th.d appears to have surrounded its
ranged around
the Geneva talks, Nobody here point U
iz Jeney Standard, Standard of Califor-, spt immediately agreements
' any of the problems nia and Texas Co.
thunt Other
blocs big gamers included have separated the two Brown
Shoe. 3 spectacular we over ten years.
American businessmen see a great advantage accruing in any easing of economic and political
tension.
认
The free world stands le gain mover with a gain of 12 points. There is strong feeling here--alto, accorning to one spokes- to $111.
relord is turn by reports from man. Mr Warren Lec
Pierson, Out of a total 1,210 kates Geneva-that'
the Big Four now. President of the Inter- traded 550 were higher, 421 | might more easily find a basis national Chamber of Commerce, lower. Most of the gains were for agreement on economic and saki on assuming his office tast small,
Iride questions rather than on week that the free nations have The big goins in a few lead. the Burnier political ones.
nothing to fear from economic ers, however, lifted industrials
HELP RUSSIANS
from Coinmunist more than 3 points on average: Observers pointed
Competition out that countries. He
was tanident to a new all-time peak,
Russia would probably welcome that in any orRN competition Turnover totalled 2,500,000 | casing or trusions at this time, the West would be able to show shares.
for no other reason than to the superiority of its production. Exchange, give her remumy a breathing Emphasising
Dal There are bond volume was $3,840,000. ispell, Olmervers emphasise
Exchange on expansion of East West that growing signs of relaxed ten-
New York
Stock
American. Stock volume was 820,000 shares.
CLOSING
Alden Inc. Arg.
Allied Cheniteale
Allied Mills Inc.
Allis Chalmers
Amerie Airline
at the time could help the Soviet
with cope
its lag- iculturat arat industrial $2production and with what many frel is #1 best **shakes***
PRICES
1307%.
American Cyanamide Co
Am. Mach. & F'dry,
Alertean Mətai,
American Smelting
Americas Tel. & Tel
American Tob. "B"
Anaconda Copper
Annco Steel
Armnur... ***
יפל
sions-citing the Geneva meet- Ingat eid there was revo fer caution on Russian alms. But the outlook is hope- ful, he said.
A preliminary survey showed; that the second quarter rate of output increasest by 8,000,000,000 over the previous record rate in the Art quarter of 1958. The Council report showed that the second quarter was due mainly to continued sizable increases in consumer spending and business
investment.
SECTION
Possibilities
Brazilian Cotton HONGKONG
Exports
Washington, July 25,
Cation exporte from Brazil during the period of August 1954 to April 1855 amounted to 409,000 bales (500 The "ross) = 34 per cent decrease from exports of 1,020,000 bales in the corresonding 1953-54 period, lup Agriculture Department
reported to- day-United Press.
World Cotton
Markets
Now York, July 25. Colton futures doclined torlay in dựil opened fairly active. A week- trading. The market end accumulation of sell orders drove prices down but the fall was well cushioned by cover- ing stemming from the lack of
disposing of
As usual, when demand is brisk information about the Govern and production moves at faster | ment's plans for pace, observers began to worry surplus cotton. about a surplus of inventory,
•Lasi
recession, blamed in part on this inventory backup.
year's
was
of
At the close prices ruled 4 to 17 points lower. The markot opened four to stven points lower, New Orleans closed 12 According to
rellable to 10 points lower. one observer Mr A. W. Zelomek.
After economist and President
this opening flurry, International Statistical Bureau
treders sald activity slowed laventories to date are net out down in snails pace, of line, ciiber in totals or in Consumption for the full relationship to sales volume."
this Cason ending
month is estimated by the New York Cotton Exchange service at 8,- 800,000 bales, Possible exports are placed at 3,550.000 bules lor the season,
A continuation of the current high rate of production through "If the hopeful view is the remainder of 1035 "must at justified." he said. "no groups some point. particularly with will rujoler
whole-rising prices, more
outrun demand ibc business and start piling up inventories," community in very tree coun-he said.
New York Sugar heartedly than
Market
New York, July 25.
try."
Mr Pierson Camille Gutt,
World No. 4 sugar futures former Managing Heard one point lower to one the International Monetary pont higher with sales of 105 Fut Contracts,
The Exchange figures the carryover on July 31 will be around 11,150,000 bales aganet| 9,728,000 bales a year ago.
Trading volumes
open interests in the Exchange today
and
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this morn- Ing amounted to $1,330438.25, Noon quotations and the morn ing's transactions: SOARES BUYERS SELLERS SALEH GOVT. LOANS
31 (1940) 82 10.000 ES
IK Bank XD
BANKS
*
East Astu
INSURANCES
Union
Lombard
Lodo toga
87 Underwriters 9.35 SHIPPING
DOCKS, ETC. I. Wharf
Walerboat.1.00
Dock Provident (Old)
Wheelock
1873 1810
Bur 1078
20 1830
73% 20.00 27 opus 28.90 16.00 16 4750, of 10.30 1000 18.40 8.45 0.00 1400 9.43 500 Diz LAND, ETC.
TK Hotel. 10.30 18% 300 0.
600 18.10
..726
19.60
Page
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. co.
PASSENGER/FREIGHT SERVICE
Lenver London Bue Hongkong
Outwards "CARTHAGE”' Maled "CONFU"
"CANTON"
In Port
17th August
23rd August
10th Septembar
"CARTHAGE" 14th September 17th October
Vis Sonthampton, Port 'Bald, Aden, Bombay,. Cviomke, Penang & Singapore
HegioWard "CARTHAGE" "CORFU
"CANTÓN" "CARTHAGE"
F.eaves Hongkong Dua Labdan
29th July
27th Augunt
28th August
28th September
23rd September 24th October
ZIK October
21st November
Via Singapore, Penang, Colombo, Bombay, Adent, Part Bald & London
"SOMALI"
FREIGHT SERVICE
loads 28/29th July for S'pore, P. Swetten-
HAM,
Penang, Aden,
Port Sald, Genoa Marselles, Itavre, Lon den. Antwerp, Retter. dam & Hamburg
"BINGAPORE” lunds 13/14th Aug. for same ports
"SOMALI"
With Uberty to call at Belawan before oc afise Straits Ports and at Bombay it indtrement offers. Tanka available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
from Japan
AN
for Singapore. Rangoon & Chittagong du 13th Aug. From Japan
tails 14th Aug. for Singapore, Penang
Rangoon & Calcuits
"FULTALA”
due
*
7th Aug.
Bin Aur.
2000 + 10.30
IIK Lond Humphrey's
[N] nearly RUBBER
A/Rubber R/Rubber
4000 40 73 300 13
"SANGOLA"
18:20 1920
3000 9 2.73
UTILITIES
$2,000 i 2.37
30183214 1000-74 3.34
Trom 24.40 241 1500 Star Ferry. Y'ma Ferry
P. & O./B. I, JOINT SERVICE
due 2nd Aug, from Japan
4050 1 4.53
"OBRA"
2415 185
"OKHLA"
"ORMARA"
153 100 400 123 C. Light' (O) 23.4V 23.00 270 23.40 C. Light (N) 18.40 -1811⁄2 1700 18.20
3300 103 Electrie **** 4434 4435300044 Масло Elec. 10.70 Telephane 3312 3624 3100 34 INDUSTRIALS
Cement ***** 32 #21 600 321⁄2 3700 322 STORES, ETC.
Dairy
43.00 73.70 2000 - 23.00 2400 23.70 1514
sal 3rd Aug. for Singapore. Cochin, Karachi, Basuh. Kher- ramshahr & Kuwolf
dae 13th Aug. from Japan
sails 14th Aug, for Singapore, Colombo,
BOMBAY & Karachi due 17th Aug, from P. Guif, Karachi
& Bombay walk' 10th Atig. for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"EASTERN**
"NANKIN"
siue
walls
4th Aug. from Australia
6th Aug. for Japan lands 20th Aug. for Sandakan. Itabaul, Brisbane, Sydney, Mel- bourne & Adelaide
All vessels have liberty to call at any poris on or off the route & the route & sailing are subject · to change or amendment with or without noties. ·
Fit-Lima-Hami
succeederi Mr of Belgium
Director of
Baltimore
Bendix Aviation Corp.
Benguet Cons
Bethlehem Steel
100%
Boring Airplane.
Borden (The) Co
0518
Burroughs Add Machine
Canadian Pacifle [1.
Case (34) Co.
CIT. Fincial Corp.
Domestic No. 6 sugar futuras elosed today udchanged to two Another Indiention of the puinte lower with sales of 262 underlying confidence Wall Streeters have in the potential-
NEW RISE
SENSITIVE POINT Mr Zelomek, noting that the current rate of inventory build
ng is running at an annual pace hf 5.4 billions, says the sensitive Month point will be when it ranches Oct. Doc billions. This, be adds, muy Mor occur during the Brst and second May quarters of 1050.
But another
·
Watson......
Crawford 351
were:
COTTONS Textilca Nanyang
0.10
Volune 47,900
Open interent
467,000
MISCELLANEOUS
Yangtze
60,100
H82,500
B1 8.70
7.60 D. 100 2000 2000
29,800
207,500
Allied....: 5.75 0.00
20.000
323,500
dis- Total
July Out, Doc
10.100
108,400
17,100
100,000
4,200
24,5500
207,200
2,000,100 bales
Cat. Tractor
53
Celanese Corp.
241
NEW YORK.
Chane Manhnt. Dank
Chile Copper
Chrysler Mo
Commercial Credit
61
Prices of futures closed today
544
Spot
Ogl.
Dec.
34.45
13.54-57 33.07
Mar.
.80...
-May
34.11
July Oct.
3350
23.10
131.00
NEW ORLEANS
Opening Batu Lintang Rubber Co.
Ltd. British Bornen
Syndicate.
Singapore
Stock Market
Singapore, July 20, Brokers today quoted following stock prices:
the
For full particulars apply to:- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.
Petroleum
Ord.
Content Chi of Del.
General Foods
Generni Motors
Gen. Pub, Util.
contracls.
The steadiness in world futures
observer ties of the Geneva mestings is counts altogether Mr Zelomek's
Rc- search Corporation
forecast te follows: record-breaking business activity carrying into 1050. The record- breaking rate of industrial pro- duction, it
sard, should continue into. 1956 under the impetus of These observers look for rising personal consumption and The domestic raw sugar market favourable developments at increasect
Dec. construction on out- was quict.. There were indica-least a tendency toward a more lays. 5tions buyers wire willing to pay peaceful era. On that basis, it
It said: the year's high of 6.08 cents alis felt that
peace would be
Prices of futures closed today Consolidated on Friday. bullish. Should
"Neither defence spending, peace come, which has merely levelled
off as follows: to according (world) observer, the US would see an after declining for over a year,
3.24 expansion "beyond
nor speculative Inventory anything
has been witnessed
or even cumulation, which previously
negligible. plaved a significant 3.24 imagined."
role in the economy's spectacu for advance since the fall of 1954."-United Press.
lested a similar situation for reflected in the bullishness of caution aboul inventories. In a raw sugar in the world market, the security markets. Market report suod last, week, the
Domestle futures were Arm analysts continue to stress in National Securities and 54% must of the day, reflecting in-
their reports that the market is buying
in for a new rise-some suy it credited
of refined sugar
would move higher another eight 422 because of the hut weather. The
quets increase of 100,000 tons or nine per cent within the 2815
did not have much bearing on next few weeks,
பா. market, traders said,
GR
Spot-cents per lb. elf NY
ex-duty)
one veteran
These and financial optimistic statements have been bandied about in the financial markets for the last few days.
Recent 535 selling in the so-called defence
5.05 stocks had been
Spot
пс
Oct.
Dec.
Mar
MAY
July
Oct.
Dec.
anticipated World Rubber
Colgate-Palmalive
Commonwealth Elec.
Consolidated Edison
Continental Steel
Corn Prothrois
Crane Ca
$12
Crown Zellerunch.
BAD
Citan Amur. Sugar
151
the
Curtis Wright
Diamond Alkall
43%
Dow Chemicade
Dupont de Nemours
230
Fatman Kodak
70
El Paso National Cas
A
pound established
Eric Railroad
24
General Electric
Fertures:
3217
Contract No. 4
1134 Sept.
Dei,
Gillette Safety Razor.
Gidden Co
02: 414
March
Grouriens (8.) Cu.
May July
Goodyear Tire
Sept.
Heyden Chemical
Spot-cents per ib. fub
Homistake Mining Co.
Cuba)
Ingersoll-Ranch
50
Contract No, G
Inland Steel Co.
77
Sept.
3.22
3.55
Interchemical Corji,
Nov.
Jet | Buriness Machines
423
March
Int'l Harvester
40
May
International Nickel
75%
International Paper
100
Int'l Tel & Tel
30
John-Manville
8472!
Kansas C. Power & Liglit
43
Kennecott Copper
123
Biggest Meyers Fab, ca.
Lockheed Aircraft
4432
Loews Incorp. ....
23
Lone Star Cement Co.
6106
Louisville & Nashville R.
Lowenstein & Sons.
Mesabi Iron Corp,
Minnesota Mining
1005
Mirian Development
202
Manmanto Cheintent Co.
135
Montgomery Ward
53
due to rising
Reg. "A"
VA
Chancellor
4231
Mr Butler's
22T
i un country's economy. Gilts issued
the
Sept. 132 133 Corporate curnings reports No. 1 rubber per lb. Aug. 1204-127
last week appeared to No.
3
119-120
00
were heavily · sold with
4814
Loan dropping 12s 64
133-13
012
1232
152-103 13212-134
BUS
Pacific Western Oil
4312
Pan American Airways
20%
down
Paramount Pictures
Purke Davis Co.
41
4176
Jenny J. C. Co.
118
Penn, Bult Co,
30
up to 5s-United Press.
Philp Morris
Co
Motorola Ine, National Con National Dairy Prod. National Distillers
National Lead National Steel Corp. New York Central Olin Maeson
Owen-Illinois Class Pacific Con & Elec.
Philips Petroleum
Procter & Gamble Co.
Pittsburgh Pinto Glami
Punlicker Industries
Pure 011
Rodlo Corporation
Beo Motor
Republic Steel
Reynolds Metal
Shell Oll Co.
Sinclair QUI
Secony Vacuum
Bouth Porto Rico Sugar
5.36 through selling by weak holders, 5.85 and was not generally attributed -United Press. to any concern about cutbacks
In defence orders.
LONDON STOCK
MARKET
Wall Sirceters
SOD other
reasons for a bullish market
these days. There are the pros- pects of excellent earnings re- ports for the second quarter; the possibility of numerous dividend nere:ses and the improbability that margin requirements 0
will at the opening, be raised so long as the stock dread of British market is as orderly
and
London, July" 25. Stock market suffered severe slump
of the Exchequer, strained as it is now,
speech tomorrow
Markets
to
Singapore, July 25, After firm opening the rubber market ruted steady in mort ing in spasmodie trading. It ro mained sensitive while it was all weil absorbed. pelling
Futures:
re No. 1 rubber der ib. Aug. 13324-134
Oct. unquoted
No. 4 Wur confirm at least a portion of this spot rubber unbaled and optimism. Union Carbide, for Blanket crepa
No. 1 pals crepe
others down by amounts rang-example, reported a record first Ing from 59 to 15s, Olla suf-half, with sales up 27 per cent fere severely with Burmah over the like 1964 period. Earn-
and 13%
other leadersings rose 52 per down more than 5s. All the blue Corbido
cent. Union is the second largest chips yielded amounts ranging elemical manufacturer.
London Foreign Exchange
New York Montreal Ameerdam Drustela Copenhagen -
Lisbon Parda
Bouthern National Gas
Southern Italtway (Com.)
Standard Brands
Standard Oil of. Cal.
Standard Oil of Ind.
024%
Stockholm
Handard_Ol of NJ.
'Stokely-Van Camp.
West Mark Zurich
101
Studebaker -Packard Corp.
1014
Bwin & Co,
Texas Co.....
Tide Water Asen, 01
KoTwenty. Century Fox Film
Union Carbide
Union Pacific. Fallway
United Airft
2771%
21
Canada
U.B. Gypeum
HOUT 9. Line Co.
AUS. Rubber
U5. Smeling
32: Werlinghouse Weštrio
West Va. Pulp & Paper
Woolworth
-United Press,
Landon, July 2
2.781-2.18 7/10
2.73})-2.730/10 10.58-10.001 130.06-139.077}{ 19.311-10.33- 70.30-60,03
14.30-14.30 11.09-11.08 12.1515-1220{{
-United Press.
New York Foreign
Exchange
New York, July 28.
-day futures - 24/7/7/10
day fistütred ..
ELSEWHERE
LIVERPOOL
Win Smellers
Fraser & Neuve Ltd Ord Fraser & Leave Lid
cum. pref
33,34
33.00
33.GD
Hongkong &
Shanghal
34.02
Banking Corp.
$1.70
30,55
1040%
34,00
Hongkong Tin Ltd.
D/Od
33.43
Kempen Ltd.
$1.70
EVERET
33.15
Lunas Rubber Erintes Ltd.
39.20
33.66
Malayan Brewerie
$4.30
New Serendah
Rubber Co.
Ltd.
$1.55
Petaling Tin Ltd.
$5.00€
Raffles Hotel
$2.35
Singapore Cold Storage
$1.05
South British Insurance Co.
Lt.
$20.00
31.40
Straits Trading
1,40
Straits Steamship
$33.00
29.70
United Engineers Ord.
20.08
Wearne Bros.
$14.00 $11:18 $2.07
29.35
t-exdiv.
cumdiv.--China Mail
Special.
Futures closings, American
middling, in pence per ib, were;
July/Aug.
Oct/Nov.
Dec./Jati.
Mar/Apr.
May/June
SAO PAULO,
Future closings, in cruzeiros per kilo were as follows:
Oct.
Dec.
Mer.
May
In
34.33
33.00
30.50
34.50
the United States, the average price of 15/10 middling at teri designated spot marketi was 33,58 cents. Sales of these centres totaled 10,300 bales, - United Press,
NEW YORK METAL FUTURES
NEW YOпK Futures today closed. 45. to 60 points higher with sales of 134 contracts,
New York, July 25. Activity was described na Prices of metal fútures closed Spot No. 1. today in cents per lb, as follows: Elsewhere, Pennsylvania rall-routine and quiet. reads cornings for Orst half were quoted at 42% eems Lead
July 803 per .up correct); Allied showed, net, income
were
cent over
of, 1955 cont. (003 Chemical advance for six months · this year of 10.9 per cont .over the 1054 period; Du Pont, top chemical producer,
reportent sales and
for earnings the half-year. Vptume climbed 1954 levels, despite lower average prices.
a "pound. "Fulures:
Sent.
Dec,
Mar.
May
July
Sepi
there
The market was steady. No. 1. Rss was quoted at 30 pence per lb. Prices:
per
From another source
has
Aug.
LONDON:
was additional contribution of No. 1 Rapet 30-393 the galloping US economy. Settlement Hound urm! President Eisenhower's Council Geot of Economic Advisers estimated that the nation's total | Jar1/Mher. production rose beyond expecta Apr/Jule Ceneral Lions to a now record "nhual' "hi" 1. rate of $$303,000,000,000 13' the Auri second quarter of this year. Sepiz Council extimated that personai
AKO SE DAs, Incomo, on, the, socondrá quAT
Théredwed to a ruto of: 3300,000,- 600,000 a year for the first ume } in American history,
-United Pre09.
Aug.
Tin
July AUS.
Copper July
Aus
Zine July Aug.
LONDON METAL
PRICES
London, July 25. The in
market was steady, Other metal markcie 'were also steady today. Prices closed. in
sterling per long ton as follows:
in spot
buyers Koljern
700
700
3-month.
750
700
Copper spot
302
303
3-month
339
300
Lead 2nd half July Zine 2nd half July
100
106/
107
107
91
United' Press.
+
Exchange Rates
LINES
EVERETT ORIENT LINE
Fast Regular Freight Refrigerator Passanger
Loading for Singapore, Penang, Hangoon, Calcutia and
Chittagong.
"LENKVERETT""
"REDEVERETT""
"NOREVERETT"
"BRADEVERETT"
Service
Arr. Aug.
2
Salls Aug. a
- Sept,
-- Sept. 23 -- Oct. 6
-- Sept. -
Sept. 24
- Oct.
Loading for Kobe, Osaka, Negoya, Tokohama.
"REDEVERETT”
"NOREVERETTIM
"DHADEVERETT""
Arr. Aug. 10
Aug. 20
11
Salle Aug. * Aug. 3.
# -- Sept. 7
-- Sept. -- Sept. 23
- Sept. 24
LIMITED PASSENGER ACCOMMODATION, A
"LENEVERETT"
All the above subject to alteration wilzwas autice.
EVERETT
STAR
LINE
FAST REGULAR - FREIGHT REFRIGERATON; SERVIOR Loading for Singapore, Port Eweltenham, MidERE, Colombo, Bombay, Karachi à Persian Gulf Purk. "ETAR DETELOKUJE“.
"STAR AROTURUS”
*TRAIN
8.43 10.01
"STAR ALCYÖNK"
LAU
Disines WAJ done In the local 14.85b unofficial exchange market this 14.88h morning at the following rates;— 08.00bUS, dollar (por #1}, --- 95.00 Sterling notes (por el 4450b Australian notes Iper, 411. 44.00b Indonesian rupiah (per 100) 12.10b Blair ticals (per 100) 12.196-) Bingapore (Hiraita) ·.. tinitod PreRs. Mino-China plastres (per 100)
MESSAGERIES
PO Box 5, 2 Queen
MARITIMES
-FAST: PASSENGER/FREICHT SERVICE "CAMBODGE","M
"EAO
DONATEL
#vallable, je United "MEINAMU
"STAR ALCYONE" "LA O "
"ETAR BETELOKUNE"
Am., Aug.
18
Sals Aug. 10:
-- Sept.
B
Bep
Sept 20
Bept. zi
Oct. 18
-- Oct.
10.
-- Nov. 5
- Nov.
Art. · Aug.
1
-- Oct
من رسید
Nov.
*
Loading for Kobe, Ozaka, Nagoya, Yokohama, "STAR ANCTURUBY:
Aug. 37 Sept. 20
--- Oct. 31
Baila Aug. 13..
- AVE. 20
- Bept. 1
I IMITED FASSENGER ACCOMMODATION,
All the above subject to alteration; without notice.
EVERETT STEAMSHIP CORPORATION'S/A
(Incorporated, in the Republic of.. Panamas,wiitä Lämmited Liability))
1293.
Bailing Aug. 18th Balling Sept. 10th
Chinasa De
SERVICE":
Balling Aug;18th #alling Sept. 21st