TRADE and
THE CHINA MAIL, FRIDAY, JULY 29, 1955.
COMMERCE
SECTION
UPWARDS EVER UPWARDS
NEW YORK STOCK
MARKET
New York, July 28. Stocks turned down
around today with
[31
a few
leading issues attracting most of the attention
they reflected corporate de- velopments.
Bethlehem Steel was the big feature as traders adjusted their
Share Market
Rise To New
Prices
Peaks
HEAVY TURNOVERS AGAIN
By A Special Correspondent
Sensational new rises sent many shares to their highest levels for years as the buying spree continued on the Hongkong Stock Exchange this week.
1
TODAY'S SHARE PRICES (From Our Correspondent)
Noon quotations and the morning's
on the transactions Hongkong Stock Exchange.
AES DUYERS BELLEKS BALES
BANKS
*
JIK BANK XD 1005 1070
East Asia..
Union
67 0014
:..... 1004 Lombard... Underwriters 10 SHIPPING
The week's business again topped the $14 million mark and LANCES exraratineuse in advance of the yesterday's turnover of $4,520,000 must be one of the highest on record.
Profit-taking set in on yesterday's market in the afternoon call. But that was only natural with $2,300,000 worth of business marked down in the morning and with a number of shares showing a rise of almost $2 on the week,
bond meeting ths afternoon.
It sold as high as $158, up point; dropped to a low of $163
of for a loss
#2
well
Wall Street speglated or the possibilities of a stock split, then came up to $150, only 4 on the day as shuurtafifovored just before the cleang Bang.
Directores did vog order a split but declared a dividend of $1.75 a share, against $1.50 pold in the previous quarter and $2.25
dbe first quarter. The Company reported record ramings, pro- duction and shipments first half.
in the
BETHLEHEM $131 Following the announcement Bethlehem sold at $151 in West Coust markels.
Jones and Laughlin Steel ran up nearly 2 points on 's sharp- y higher earnings report and WINT one of the day's must Issues, topped ortly be Callahan Zine.
ere little Other steela changed.
Standard Oil (NJ) was on- other feature as it elimbed more than a point, then plummetted more than 4 pointe im profit- taking after a recond earnings amouncement and finolly came back a bit to finish with a net loss of almost 2 points.
Standard Out of California lust nearly 2
points us directors rdered the usual dividend.
General Motors was hit by record first realising after its
half report yesterday but pulled up at the close to finish nearly
A point higher.
Out of a total
truded, there were
1.180 issues
and only 200 higher.
617 lower
Trading was a light 2,090,000 shares compared with 2,170,000 yesterday.
Dow-Jones closing
WETI
30 industriala
20
tion
But the effect of the liquida- | These
slight Wis
could
the and overall virtues of being relatively "safe"
glyc Fossés
bo measured in and at the summe time small coins. Certainly my own reasonable yield. lunch last week was completely wrong
shures combine
д
but
visit
Others believe that the I'm afraid the mor- ket's performance this week has of the Secretary of State for the mettle to reassure me and Colonien, Mr Alan Lennox-Boyd I'm more convinced than over and all the kind things he's that there' have to be some been saying about our industries levelling cut soon, despite the and our potentiality for develop continuing tremendous demand.ment have had a salutary effect
What
caused
this
week's un the market. mc A this
activity? Brukera gave
of answers to variety question.
Some belleve that the heavy that have been remittances roming to the Colony in recent months are now finding their way on to the Stock Exchange in ever-increasing quantities. Brokers say and I belleve it indisputabile that the stock ex-
the change is
most lucrative
form of Investment in Hongkong at the moment.
Two Virtues
To support their theory that is now this overseas capitol
invested in the market being they point to the fact that "Blue Chip" Utilities have been week. the most favoured this
World Rubber
Markets
Singapore, July 20. The rubber market steadied on better overseas advices for short covering. There was some averages profit-taking at higher levels
the closing was nnd
460,40 Futures:
158.60 No.
06.60
160.09
1
rubber per
moro
cents. The current rumour is that Coniral Development Lid, the syndicate which bought the Hongkong and Shanghai Hotel's Pedder Street plot for $11 million last year is going to pay the $8.6 million balance owing immediately.
The
Hotel Company
the rumour
heard but they say have heard nothing
oficial.
Waterboat ..20 DOCKS, ETC.
K. Whart Dock
Provident (OK)
Wheelock
301875
00 @ 1679 8 330
20 g 3070
1500
20 BU A# 27.20
27.30
13003
200 68 27.00
300 GA MINH | 2500__6|18.60
.... 13/0 1800
.. 0.60 0.70 1200000
LAND, ETC.
Hotel
have too
HIK Lend Humphreys
(N) itality. RUBBER
Private Wire News
Still others
Any that speculators are about now.
The consensuN of opinion You will remember that under seems to be, however, that the the terms of the sale, the syn- recent diente pald down a first_instal- market has benefited in
largely
from weeks
what ment of $1.1 million last Decem- in termed as the unemployment ber, then paid another
Instal- in
Which means simply ment of $3.3 million last month. of funds," that there is much moncy in The final instalment had to be
lying paid tils Colony that is just
within two years of the serving date
the idle in various banks
of the signing of no useful purpose other than to agreement. earn the owner a small rate of interest.
has
B
...on
05 5000 as
40006 0.00 2000 4.63
10.80119,75 2600 gr 19.30
800 g 10.40
500 19.20 2700 10.00
1500 * 19.70
200 10.80
3250 10.70
300 1900
74 76 800 Tek
ál 2000 0o 01
20 là 1000 in CO
2.31
7000 16 2.650
A. Rumber #37)1⁄2 240 2450 65 (235 5000 240 B. Rumber. 25211⁄2 3.05 UTILITIES
Trom
23.30 23.70 250 @ 20.10
Star Ferry 154 Y'all Ferry
छ
2000 20.30
107 200 !
127
US SUGAR BILL
DEBATE
Washington, July 28
The House Rules Comm- mite todity reversed st -moll, med cleared legislation for House floor debate.
The rule granted will limit the sugar debate to ane hour and permit un- Hnited amendments to the the messure drafted by Agriculture Committee,
It was believed possible that Ilonan sotion might fake place on the messure tomorrow.---United Press,
PI Can Sell
Extra 20,000
Tons Sugar
The
London, July 20, International Sugar Council has granted the Philip pines an extra quota of 20,000 tons of sugur specially for ex- vort in 1955 to neighbouring countries in exchange for ricë, it was learned today.
Today's reported nction by the Council follows the request made last month by the Philip- pines Government for permis- ΠΟΤΕ
the tree to export to market 100,000 tons
ons of sugar outside the international sugar agreement allocation because of for the Philippines urgent need rice and lack of foreign ex- change with which to buy it,
On June 13 Mr Leon Guerrero,
Ambassador requested the working
executive
1660 320in
C. Light (0) 23.00 23.00 5900 23,00 2500 93.70
the af
P&O B.I. E&A
COMPANIES
·PENINSULAR › & ORIENTAL S.N, CO.
PASSENGER/FREIGHT SERVICE
Leaves London Due Hongkong Antted
Outwards "CORFU"
"CANTON"
"CARTHAGE"
"CORFU"
23rd Augint
17th August
14th September
10th September 17th October
12th Oclober"
10th November-
Via Southampton, Part said, Åden, Bombay, Colombo, Penang & Stagapara
Tiomewards "CORFU" "CANTÒN" "CARTHAGE" "CORPU"
270 August
Leaves Hongkong Bue Landen
*28th September 23rd September 24th October
21st October
21st November
18th November 19th December
Via Singapore, Penang, Colombo, Bombay, Aden,
Part Beld 4 London..
"SOMALI"
FREIGHT SERVICE
loads 29/30th July for S'pore. P. Swaften- ham, Pedang. Aden; Port Said, Солод Marseilles, Havre, Lon- don, Antwerp, Hotter- dam de Hamburg
"SINGAPORE” loads 13/14th Aug. for
same
- "SOMALI
porta
11
With Kerry to call at Belawan betors or after Strafta Ports and at Bombay it inducement ofera.. Tanks available for carriage of Oil In Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
"FULTALA"
due
from Japan 7th Aug. safle 8th Aug. for Singapore, Hangoen
& Chillagong from Japani talis 19th Aug. for Singaporo, Penang
Rangoon & Calcutta due 23rd Aug. froin Calcutta, Rangoon & Straits Rails 24th Aug, for Kobe & Yokohama P. & O./B. I. JOINT SERVICE
"BANGOLA” due 13th Aug,
"SANTHIA"
com-
"OBRA"
C. Light (N) 18.60 15.70 3833 6 19.00 roup
1000 10.79mittee of the International Sugar Electrio ........... 434 4335 1200 or 4514 | Council, then meeting in London,
1000 es 455 195
to grant permission for the Mano Elec. 11:10 Telephone ..362 3714 8124 37 Philippinta to barter part of her 7000 37% sugar reserves to buy rice of INDUSTRIALS
which there was an acute short- Cement
341 343 3700 @ 24
1000 @ 34%age in the islands.----United Press. 1300345
..... 10:5
Cytwford 34
COTTONS
18
250 500
120 10.40 300 15.00
According to my private wire definite Information it is quite And now the Stock Exchange that the syndicate is planning
claimed the attention of to settle the bill
s much these people
that possible. I know one gentleman one Ice House Street friend told
the leave at
moment
Rope me yesterday: "People are going whe will be surprised. into the share market in
In the land section, Hongkong STONES, ETC.
Dairy ......00 24.00 bigger way than ever before,"
Lands are up 31% to $75, and
Watson Certainly this week's activity Humphreys are up $1.80 on last was not due to inward, remit week's buyer's bid of $10.20. In the Utilities both Stars and tances to any large extent, Be-Realties at $2,575 are steady. cause carn from my usually
Yaumatis
are
being influenced reliable source, that they have by a growing body of opinion only been moderate this week.
that Government will drop the Stars 1 said earlier that a number harbour tunnel scheme. of new shares had reached their are up $2 on the week to $155
and Yaumatis
up $4 to $120. highest levels for years.
They and
better Lights: 80 cents
on the include most of the Utility group together with shares like Untons, week at $23.70 and these shares Hongkong and Shanghai Hotels, are being influenced by the news and Lane Crawfords. But dethat the company mand on the whole has been provide electricity to Lentão, widespread and oli but two
is going to
Capital Call Up steady
1b.
130-1385 137-1372 tingtrated 13015-131
Nu. 3 rubber per ib. Aug. 121-124
shares show rises on the week.
To give you some iden of how much shares have risen in the
Textiles Norrang MISCELLANEOUS
Yangtze Allied
0.10 500 4M BIG 8.05
8.10 8.20 1000
64000
15 6
Singapore Stock Market
World Cotton
Markets
Liverpool, July 28. Cotton future closings, Ameri- 15/10 can cotton, middling, Inch, in pence per Jb. were as follows:
30.40
8655
July/Aug.
Oct/Nov.
Dec/Jan.
Mar/Apr.
May/Juing
Official values in spot, coltons fairly soared changed included:
today, Those
American mkidling American Ntrict low Mexican middling Nigerian NA
13.08
bild.
SAO PAULO
0/0 $1.7A
per kilo were as follows:
Oct.
Lunan Rubber Estates Maluyan Brewerien ... New Serandah Rubber Co. Petaling Tin
$2.27
Dae.
3330
Mar.
30.80
$1.00
May
$4.75t
or perhaps it!
Singapore Cold Storage South British Insurance described a Strolls Trading
Hames Hotel
$2.35
In
the
*$1.05
$20
$21.60
#14 411.19 $2,65
Singapore, July 29. The reasoning apparently goes
Brokers today quoted the fol- last few months here is a table that if this is so the company owing stock prices:
Issue
more shores. But
Opening showing some of the lowest may
$1.60 Tatu Lintang Rubber ..... kvels recorded this year cam-brokers point out that the com-
Borneo s has two million, $3 British
Petroleum pany
40/- Byndicate No. 4 rubber per ib. Aug. 1174-11pared with yesterday's prices.
contributing or partly pald
Consolidated TIA Smellers shares and if it wanted more
Ord.
316* $1,37 capital, it could raise $4 million Traser & Neave Ltd Ord. quickly and easily by calling up Fraser & Neave 75% cum.
34.65 the extra $2 on the cons.
Kangkong & Shanghal Bank 373 This is surely a much moro Hongkong Tin feasible possibility if in fact the Kempas company does need the capital. Another. Utility, Electrics (up to $454) are also under $114 Influence of
a rumour, of a Issue pending would be better
Futures today closed 19 to 30 with sales of 374
contracts.
Inits
15 utilities
August
'05 stocks
01.56
September
Comin. future price index
154.47
October
No,
rubber per lb. Aug.
CLOSING PRICES
But rubber unhaled
Alden Inc. Acy.
20% Blanket crepe
137-138 100-130
Low July 20
American Airline
No. 1 pale crepe
137-130%
X Banks
$1530 $1675
American, Cyanamic Co.
GO%
NEW YORK
Unions
#10
1025
Am. Mach. Fry
2152
Wheelocks
1.90
2.70
Am. Sugar Ref.
78
K Wharves
fi
Armico Strol
43
points higher
NK Docks
24
27.20
Halswin-Luna-Hani.
1416
Providents
1100
10.30
Bendix Aviation Corp.
489
Benguet Cons
136
Prices
Bethlehem Steel
1541
strength
closed on a note of after fluctuating
IK Hotela
[4.70
19.30
HK Lands
15
Humphreys
10.24
Boeing Airplane
672
HK Really
1.025
2.573
Borden (The) Co.
19.00
$3.10
Burroughs Add Machine
star Ferries
140
135
Case
I. Co.
167
103
120
C.1.T. Financini Corp.
400
China Lights
10.00
23.70
Cat. Tractor
3377
Celanese Corp.
24
29.23
37
02
23.30
13427
15.50
part.
18
67%
201
22415
62
13.30
16.50
4412
30
5.00
6.10
were looking
0.00
for Cements which are
bright
0.30
8.00
risen
fair
Chase Manhat. Bank
Chrysler Motors
Colgate-Palmolive Co.
Creillt
wealth Elec
Continental Oll of Del.
Crane Co.
Crown Zollerbach
Diamond Alkali
Dow Chemicals
El Paso National Gas
Erle Railroad
Family Finance Corp.
General Motors
Gen. Pub. Util.
Glidden Co.
Goodrich (D, F.) Co. Heyden Chemical
Homstake Mining Co. Ingersoll-stand
Inland Steel Co.
Interchemical Corp. International Paper John-Manville Co. Kansas C. Power & Light Liggott Meyers Tob, Co, Louisville & Nashville R. Lowenstein & Sons.
Mesabi Iron Corp. Minnesota Mining
National Steel Corp.
40
erratically over
a range of al-
most two cents a pound. After
Tran
a mid-session setback, attributed Youmat mшinly to
clling,
commission
the market
house TX Electries snapped ik. Telephones back briskly toward the cloac Cements
on persistent dealer buying and speculative
ive covering.
Technicians sald
dealera
HK Ropes
Dairy FarmS
"noor"
Wations Lane Crawforda
Allied Inv.
4291 pricea looked altractive to Yangtze Fin.
who pointed out that Texille Corp BILY 422 rubber from Singapore, laid Nanyangs 564 down
would cost around
This gives you a pretty 531
cents a pound. 47
At on Idea of how shares have 2472 time December contracts were 13422 almost six cents a pound under this year.
37 that price.
The spot market however, continued low with small sales reported on Aug. one sherts at a pound spot R53 573% $31⁄2 cents
were quoted 43 cents. Futures: 0914
783
Sept. Dec.
Mar.
May
July
LONDON
44.30
42.20 41.30 40.20
The market was easier. Spot No. 1 Res were quoted at 304
Maton Development
Motorola Inc.
National Dairy
43
52 pence per lb. Prices
Settlement house term:
Bept,
Olin Matitlemen
014
Oct.
Owen-Illinois Glass
127
Ost./Dec.
Pia Western Oil
44%
Jan/Mar
Parke Davis Co.
APT/JNEG
Penny J.C. Co.
General markets, clf basis, paris:
Penn. Balt Co.
BOV
Aug.
Philip Morris ..
Procter & Gamble Co.
Pittsburgh Piste Glass
Punicker Industries
100%
10%
Pure Ou
Reynolda Metal
Bhail Oil Co.
Saint Reg. Parker"
Bouthern Nationant Gas
Southern Railway (Com))
Atokely-Van Cemp,
Btudebaker-Packard Corp. Tide Water Ann Oil Twenty Century Fox Film Us. Le Co West Va. Pulp & Paper
45%
wishful thinking on somebody's Siralls Stearnailp
United Engineers Ord.
Cements have recovered from Wine Saturday July 31 and Mon last week's slump. On Thursday August 1, China Mait Special day last they
rather pathetic at $32-unusual
13
Closed
exdiv. † cd.
and effervescent rule New York Sugar
Yesterday they were selling at between $32% and 34.
Market
.
Futures closings, in cruzeiros
the United States, Everage price of 15/16 middling at ten designated spoil marketā was unavailable, Sales at nine of these markets totalled 15,207 bales..
Now York and New Orleins cotton prices were unavailable.
United Press,
London Stock Market
}
I understand that the reason for their fall was that semo big
New York, July 28, were the last holders
selling rather As the figures in
World No. 4 sugar futures heavily, Dumping was the word column of the table ore yester used by one broker. Now it has closed today 1 point lower to 2 day's closing rates, there is no
1s rather points higher with sales of 12
London, July 28. point in going through each and plopped and scrip
So they are going up contracts.
British Government every share detailing the extent acarce.
bonda of their rise this week. There again.
Domestic No. 6 sugar futures continued, strong a generally are a few, however, that deserve
closed unchanged to 1 point low-narrow and irregular market on special mention.
or with sales of 120 contracts. the London Exchange today. Banks,
instance: these
Yangtze Finance and Allied
Both markets continued quiet dropped to a low shares
develop- are both better with Yangteze pending raw market $1350 this week largely In sympathy with London rates, about 40 cents up at $8.10 andments and Washington news on
Allied 10 cents better at $6. the controversial Bugar The London market was affected Yangtaze's dividend is due coon
rovision bill. Futures:
A Higher Dividend?
of!
quota
for
By the Chancellor of the Ex- and as it is a subsidiary hold Contract No. 4 (world) chequer, Mr R. A. Butler's new
provide
it may 3034-4014
to combat inflation ining company moves 334-202
to the Wheelocks 30-30 Britain and Banks suffered in some pointer
Wyldend. 3712-3744 consequence.
Cottons have been about the But with the general shortage
only shares to lag this week. 31/3 of scrip the shares began climb Both Textiles and Nanyangs are Bepit.
2015-2016 ing on Wednesday and yeater below last week's rates, Textiles Oct.
384-30-14
day closed
at $1875 with buyers 10 cents lower. at $0.05, and Estato crepe thick Aug. 3014
other unsatisfied. The
"git Nanyang five cents unquoted
lower st thin
is AMSTERDAM
vdged Union Insurance
steady on last week's $0.00 The market was steady. Prices roughly
Rubber shares have again cloned today in guilders per kilo buyer's rate,
heen
quite
the activo with gramme, cif Aug as follows: Wheelocks: this report would Singapore raw material price up
3.08 paid bo Incomplete without
some from 131% to 138 Strafta çents 380 paid mention of this share. It has a 16. Truste sold this week at 3.00 m. HIS
slowly this $3.575 which la about 20 cents 3.78 nam, been creeping up.
181 No..
rubber
30
No. 1 rubber
No. 3 rubber No, I Crepe
United Prem.
Exchange Rates'
United Press. week from $0.30 to $9.70 higher and Amalgamateds' at
and Jr It carlinues et the $2.370 which in roughly present rate it should be $10 cents better.
New York Foreign before tong
Wharves bre up $3 this week
More Rises
121⁄2
September
JX10100
March ...
May
·July Suptember October
Gains in the gilt-edged ranged to £1% in Old Consols, El in Daltons and £% in. Wir Loan but did not spread throughout the rest of the list.
Among blue chips there was 327 more selling than buylay but declines were nearly all ders than a shilling, Rolls-Royce, arí exception, lost 29. 04.
Book--(cents per lb. rob Cube) 322 Contract No. 6
September
November
March
May Spot-cents per ib, me
"ex-duty)
64
6.55
*****United Prem.
Olla ako lended lower with Foyal Dutch off.
bonds, .foreign Among Japanese rose £15 while most Gormans declined. Young Loan, however, rose, El-Unitat Press.
“OKHLA”
"ORMARÁ"
que 2nd Aug, anlis 3rd Aug.
duo 13th Aug. soils 14th Aug.
due ist Aug.
`maijs 22nd Aug.
ramshahr & Kuwait from Japan for Bingapore,, Cochin, Karachi, arah, Khor from Japan
for Singapore, Colombo, BOMBAY & Karachi from P. Gulf, Karachi * Bombay For Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"EASTERN"
"NANKINTM*
from Australia duo 4th Aug, salle 8th Aug.“fot Japan
load 20th Aug. for Bandakan, Rabaut,
Brisbane, Sydney, Mel bourne de Adetaldo
All vessels have liberty to call ni any parts on or off the route & the route & 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
EVERETT ORIENT LINE
Fast Berntar Freight. Hetrigerator Passenger Service Loading for Singapore, Penang. Hangoon, Calcutta and chittagong.
*LENFVELETT**
“REBEVERETT"
"NOREVERETT”
* "DRADEVERETT”
Arr. Aug. ง 7 Septe
Balls Aug. 3
-- Best G
- Sept. 27 ~~ Oct.
Sept. 28
9
Oct. 10,
Arr: Aug. 10
Salle Aug. 11
-- Aug. 30
Aug. 31
Sept. 21
Sept. 12
Loading for Kobe, Otaks, Nagoya, Xokohama.
"REAKVEREIT” (
**NORZYKREFT"
"BRADEVERETT”
· “LENEVERETT
Sept. managing thing -Sept. 26
LIMITED PASSENGER ACCOMMODATION.
All the above subject to alteration without notice.
EVERETT
STAR LINE
VAST REGULAR FREIGHT REFRIGERATOR SERVICE Loading for Singapore, Fort dwuttonkami, Madens,
#ITAR BETELGEUSE" -"ITAR ARCTURUS“
BAT"
Khading for Kebe, Omka, Nagoya, Yakobama.".
Arr. Aug. 15 Bal
"BFAR ALCTOKE" " "LAOK
Bapt. Bept. 23 *.,- Opt. -- Nov.
Sept
17
Oct,
Nov.
¡FITAR ARCTURUE"
Arr. Aug. 12
PETAR: ALCIONE“.
Sept '**:
Oct.11 Oc
"STAM BETELAEUBEN A D¢#1
QUE LIMITED, FASSENGER
NOT
PATION.
EVERITT STEAMSHIP CORPORA
ION.S/A
sailing Aug. 18th sailing Sept. 10th
FAST
SERVICE
MessageRIES MARITIMES
P.O. Box 53 K Queen'" Building FTY720681,
10 ·977 following tho - general
FAST PASSENGER/FREIGHT SERVICE market riso and another good So that's the market for this "CAMBODGE" gainer in the dock section weck. And next week's trend?«LAOS China Provident which hine Everyone seems to think it will Foreign exchange rates closed climbed from $18.00 to $10.50 continue to go higher. malout M
Every argol because it is yielding one, that is, but your special the company's correstondent - who, incidentally Brossmcte für fhir yosh kru food, is not a broker, but an outsido
Hotels this wosle leapt from observer with a purely academia "DONAI" #17.30 16, $19.40 before?" pronte, and silas no financial interest ⠀ in "MBINJAM”
aking out back the pins by 30 the inarlont, &
Exchange
New York, July 20..
today as follows:
30-day Qutures .. 93ədir futures ..
3340 | New: Bestard 180 | South). Africa
Business “was done in the Soont
exchange roomming, at the following GAINED
Bleeding noten (per 21 Dydonesian, rupnih" (per 100)..
deschuldbee" 100% Indo-Ctaka. plastres (per 100)
iling Aug. 16th calling, Hept. 21st
i