Page
TRADE and
THE CHINA MAIL, FRIDAY, AUGUST 5, 1955.
COMMERCE
SECTION
BANK RATE UP-SHARES DOWN
NEW YORK STOCK
MARKET
The Introducto Wyester- day's New York stock prices was it receivisi in Hongkong this morning, but the cloeding prices are quoted below.
CLOSING PRICES
Aktion Inc. Acy.
$214
Allied Chemienis
LOU
Allied MIlla Ine
31
All Chalenera
72
American Airline
1
American Cynstatnide Co
5732
Am. Mach y
American Metal
30
American Smelting
American Tel & To
American Tob
Anaconda Copper
Armeo Steel
Armour
Baldwin Gamma- Jl ka
Baltimore & O
Bendix Aviation Vorp
Benguet
Cen
Bethlehem Stred
Boeing Airpůme
Borden They Co
Burrougto Add Machiave
Canadie Peltic
Ce 13 3 10
Financial Comp
Cat Tract
Celanese Corp
42
Car Manuel Hank
Chr Vader Motorn
Colgate-Painellye Col
33
Commercial Credit
Commonwealth Mice
Consolidated Edron
31
Continental Dol of Del
42
'ontinental Steel
301
Corn thoshnets
40
*
Crane Co
Crown Zelierbonel
Cuban Amer Voria Waight
Diamond AIR
National Lroc! Nuthal Steel Chrp New York Central Olin Mathieson Otis Elevadora Owen-lllmola Glam Pacific Con & Elec. Pacific Western Off Pan American Airways
Paramount Pictures
Parke Davis Co.
Penny J. C. Cu.
Ice
Is
House Street Plunged Into Gloom
MARKET MAY GO LOWER
By A Special Correspondent
There was a sharp downturn in prices on the Hongkong Stock Exchange this week on the news that the three British banks in the Colony would increase interest rates on advances. The news and the effect it had on the market plunged Ice House Street into gloom.
Losses of up to five per cent were recorded on Wednesday-a half- day for the Stock Exchange-following the brief announcement in the
morning papers.
Quite suddenly
buyers' market turned seliers'. a strong Yesterday shares under the lead of Utilities appeared to be making a partial recovery but weakness developed again in the afternoon call and most issues were marked lower. At the close of business the tone was described by one broker as "uncertain.”
World Cotton
Markets
gave
New York, Aug. 4. Cotton prices today ground gradually for the fourth zission
E Iow 01 quiet
B dealings
Finishing around the day's lowest levels the list was off
8 to 10 points. Opening prices
And But the general feeling in Ice
largely on Individual House Street Wils that the company news Hongkong Docks,
Hotels and
Crawfords Lane market would go lawer,
made gains.
banks The intention of the was apparently to curb various in the pressures Inflationary
Colony's economy, largely brought about by the substantial from out- Linward remittances
ports in Southeast Asia.
This money has been finding its way into the Stock Exchange and real estate market in in- creasing quantities in recent
months,
May Be Too Severe
were up to off 12 points, New One must make allowance for
closed oft B
10
En
were
At the close of last Thursday's business
Hotels
$19.10. at Yesterday they ended up $20.90 after rising 40 cents on
the day.
I reported last week that the current rumour was that Central Development Ltd which bought the Pedder Street plot for $11 million last year was going to
miftion pay the $6.0
balance owing immediately.
The report is still strong and that is a prominent factor influencing
100
My these shares,
Standard Oil
Dividend
New York, Aug. 4 Standard Oil Co. of New Jersey
today, declared dividend of 81.25 a share,
the same amount paid in the three preceding quar- terk.
The dividend brings total payment so far this year to $3.75 a share on the capital stock, is payablo Bept. 10 to stockholders of rebord Aug. 15. - United Press.
World Rubber Markets
off
Singapore, Aug. 4. The rubber" market opened very firm and active but eased towards hoon on profit- taking. In the afternoon trad- ing was nervous and erratic. Futures: No. 1 rubber per 1h.
TODAY'S
SHARE PRICES
(From Our Correspondent)`
Business Come on the Hong- kong Stock Exchange this morn- ing amounted To $1,270,000. Noon quotations and the morn- ing's transactions:
SHARKS BUYERS BELLERS SALES
HANKS
1 Bank XD)
INSULANCES
Union Lombard
DOCKS, ETC. K. Whert Doak...... Provident (Old) Wheelock
Page 9-
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL'S.N: CO.
PASSENGER/FREIGHT SERVICE
Outwards "CORFU"
"OANTON"
"CARTILAGE"
"CORFU
sexvca London
Malted
17th August
14th September
12th October
Bud Hongkong
33rd August
10th September 1711 Octobor
14th November
Via Southampton, Port said, Aden, Hombay, Colombo, Penang & Bingapore
flomewards
"CORFU"
"CANTON" "CARTHAGE" "CORFU"
Leaven Hongkong Due London
22h August
28th September 23rd September 24th October
211 October 21st November 18th November 10th December
Via Stugapore, Penang, Colombo, Bombay, Aden, Port Said a London
FREIGHT SERVICE
**BINGAPORE” loads 13/14th Aug.for S'pore, P. Bwollen
1063
1860 20 1000
10 @ 1000
"SURAT
Sil
$75 40087
26.70
1015
01% 0.3040100 @ 0.35 7500 9.30 1000 @ 01⁄44
LAND, ETC.
HK Holel.20.20 20.40 1800 20,00
Humphrey.. Really...
KUNDER
due 20th Aug,
ham, Penang, Colombo, Aden, Port Said, Genoa Marolles, Harte, Lon-
Rott- 'don, Antwerp,
dam & Hamburg from U.K. via Strait
inads 30th Aug. for Japan
With liberty to call at Dalawan before or after Straits Ports and at Bombay it indscomans ektura.
+ Tanks available for carriage of Oll in Bulk, Space for refrigerated cargo. Låmiled Passenger socommodation
BRITISH INDIA S.N. CO., LTD.
que 7th Aug. from Japan
"FULTALA"
1000 20.70
600 20,00
1000 20.80
1000 20.40 2500 és 20.30
JL Landl
74 1000 71%
Auk
tiepl
Oct.
No, 2 rubber
16214-1521 162324-15336 unquoted
200 of 74.
20,00
2.375 3000 2.30
per .
"SANGOLA”
Aug.
Aug. No. 1 rubber per 18,
143-144
136-137
A. Rubber 7.32) 2.3715 0000 @ 2.373
6000 2.33
"BANTHA"
128-130
$5214-1524
UTILITIES
Tran
114-715 132-133
Y'mati Ferry
23,7D 124
C. Light (0)
2X
420 64 24 14.70 000 10.00 33 10.00O 45
Na, rubber per 1b.
AUK.
Spat rubber untaled Blanket crepa No. I pale crepe
NEW YORK Futures today closed 115 to 145 points higher with sales of 419 contracts.
C. Light Ni
Electric
Macao Elec. 11.10 Telephone ..34
30 1500 ## 339%
sail
uth Aut
due 13th Aug, valla 14th Aug.
for Stagapura. Rangoon
& Chittagong
fruta Japon
for Singapore, Penang Rangoon & Calcutta
du 23rd Aug. from Calcutis, Nangoon
& Straits for Kobe & Yokohama
sal 24th Aug.
P. & 0./B. I. JOINT SERVICE
dae 11th Aug. from Japan
*OKILA"
alla 12th Aug.
sails 22nd Aug. dus 30th Aug. salis D3× Aug.
2000
"ORMARA”
dur ist Aug.
INDUSTRIALS A
Coment
321; 33% 3000 e 33%
3060 by 33
Dairy Watson...... 1. Crawford 371
23.90 200 20.00
13.00
"OZARDA"
"ITOLA"
was
COTTONS
Textiles
Nanyang
Prices settled back around mid-session after a buoyant start 10 the moott
but resumed the rise again and of pessimism existed in Ice House Street yes-
Informants
closed at the day's best levels STORES, ETC. spoko tell
to A gradual Dow of hodge well-terday but brokern I
me furthermore that the
with
commission: house and news is quite definite. Ing and liquidation continued to thought the "sudden and rather
Also I hear that a couple of dealer buying finding offerings drastle curb" might have 384 Ond trade and other buyers re-
light, 784a served or
Interested only severe an effect on the market prominent business gentlemen in
Mid-session hesitancy buying at scale-down limits. by bringing prices down far the Colony are engaged in
Traders turned more attention below intended levels and inter-market-cornering operation by-coupled with reiterated and un- riports that tho the Government's first crop fering with genuine investoring to buy up a controlling in-confirmed
government might decide to sell MISCELLANEOUS terest in the Hotel company. estimate of the season to be demand,
some rubber out of the stockpile. published on Monday. Part of the
In
the spot market, factory cent relling, experts felt, may
interest subsided after a fhurry have been to discount a higher
this late.
afternoon. Wednesday This is the second time 77% crop figure
Dit Limited sales today included has happened this year, ferent interests were Involved December one sheets at 475
1 Rss were SĐạt No. in the inst operation. But share conts. holders don't mind when there's quoted at 48% cents, ommal a "buy at any price" operator Futures: in the market with such ultrala- lic motives that he wants bigger dividenda distributed.
31
One or two shares stand out for special mention this week- particularly that
have three
been swimming against the tide but the rest I propose to deal
give
some with in a table, to idea of the effect of the banks announcement.
Original ideas some time ago suggested a crop of around 114 Bullion bules. Since then esti amates have been gradually buil: up to almost the 12 million bule ninrk.
The average of five private synopsis of the market's move-
Gamallest
Te begin with. 11 brief
The Second Time
September December March
May July
September And here is how the market
a few people in Ice House Street as a whole fared this week.
LONDON
43.40
43.03-06
47.15
40.00
48.04
44.05n
was uncertain market
both spot quoted at 43% pence
Yangtsre
Allied
dus ist Sept sails 2nd Sept.
for Singapore, Colombo, BOMBAY & Kerathi from P. Gull, Karachi & Bombay Ter Japan
from Karachi & Bombay for Japan
from Japan
for Singapore, Madras, Karachi, Bhavnagar, Basrah. Abadan, Khor- ramshahr & Kuwait
EASTERN & AUSTRALIAN S.S. CO., LTD.
015
3500 8.56 10000
8.10
B
2000 /8.35 3000 8.18
"EASTERN"
"NANKIN"
New York Sugar Market
New York, Aug 4.
futures World No. 4 sugar closed today 2 points lower to i point higher with sales of 210 contracts.
Domestic No
6 sugar futures closed
point unchanged to 1 431-431% higher with sales of 207 con-
tracts. 4334-4314
General markets, of basis, poets
Operations between trade in- terest in the September contract
Cominated dealings in
markets. Futures:
both
In Port
from Australa salls 7th Aug. for Japan Jords 19th Aug. for Bandakan, Rabaul, Brisbane, Sydney, Mief- bourne & Adelaide
All vessels have liberty to call at any ports on or off the route & the route & malling are subject to change or amendment with or without notice.
For full particulars apply točí MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.
Stakar
10
41
Duw (icnitenis
324
Dupont de Nemours
་་
Fastman Kodak
77
El Paso National ins
Orleans
Erie Ratlroad
12414
Familly Finance Vorp
24
points,
General Electric
60%
General Foods exhi
13
General Motor
133
Gen. Pub. U
Gillette Safety Ruz
Glidden Co.
Gundrich (4) C
13
Goodyear Tyre
Heyden Chênnend
531 1614
Hustuke Minton Co
***
Ingersoll-Ranta?
50
Inland Steel Co.
77
Interchical Corp
Int'l Business Mochines
412
Int'l Harvester
Ath
International Nickel
katernational Paper
103
Int'l Tel & Tel
John-Manville
Kannas C. Power & L.KİSA
4314
Kennenti Copper
Liggett Myers Tob Ci
Lockheed Afrenati
45:
Loews Incorp.
....
Lone Star Comment Co Louisville & Nashville B
34
#214
Lowenstein & Bonn.
Menali Iron Corp.
estinates to date indicates yield of 11,058,000 balco
The
menta up tlil Wednesday necessary to complete the over- all picture even if it does make
is
Minnesota Mining
Mission Development
221-
Montruumery Wied
This
G
estimates ranged from 11,344.000
to 11,875.000 bales.
The
The
Motorola Inc.
401
National Cash Reg. "A"
average guess of 53 members of
Nationin! Dairy Prod.
4135
National Dialiifees
21
the New York Cotton Exchange was 11,013,000 bales.
July 28
Aug 2
709%
འག
One private survey said that
Hongkong Banks
91875
40
while
the
Berethe
5035
since
1191 condition
of the
{2
extremely high.
4234
Trading volume
Ls; 1803.
crop
wid
the
Unions
1005
$1886 1070
Aug 3
$1806 $1870
1070n
Aug 4
ner ib. Prices:
No. 1 Rss pot
Betemret house termi
Sept.
1070n
Oct
4316-4371
the 15
Wheclocks
9.70
HK Wharves
77
9.55 77
9.30 77n
0.36
Oct/Dec.
43-493%
77
Jan/Mac.
413-2
Aor/June
40-40-3
HK Docks
27.20
28.00
open
Providents
16.50
12.10
28.80 10,A0
28.80
101
33
interest in the Exchange today
HK Hotels
19.30
20.00
20.50 20.90
401%
were:
HK Lands
75
76.50
75
741%
ALIK Sept.. Oct
434-431
Contract No. 4 (world)
439-43
Sept
Airpla
Oft.
Estate crope thin
and thick | March
13-1/
Monf
Volume
Upen interest
HumphreyA
21
20.90
218
20.00%
August unquoled.
May
Penn, Salt Co.
Philip Morris
4015
Delober
13,200
Roynolds Melal
Philips Petroleuin
Procter & Gamble Co.
Pittsburgh Plate Gla
Fublicker Industries Pure Oil
Radio Corporation Ren Motorn
Republic Steel
Shell O Co.
7132
40 Deceinber
31,700
March
$3,700
100
0344
May
4.400
425,100 730.000 305,300 326,600
IIK Really
2.575
2.55
2.59
2.40s
AMSTERDAM
July
July
6,500
100,400
33
October
1,300
110.000
December
100
16,800
4712
Toil
P
4512
218
72,000 2,114,400 bales
NEW YORK
Prices of futures closed today
Star Ferries Yaumati
China Lights
HK Electrics
UK Telephones
155
128
23.70 45
1IK Trama
20.10
20
25.80
25.80
185
155
155
120
122
123
24.30
The markcet was stendy. Spot-reenta per lb. fob Cuba) Prices closed today in guilders
per kilogramme, cif August us Sept.
Eepl.
Domesile No. 6
23.90
24.10
follows:
4814
45
45
No, 1 rubber
371
354
3514
No. 2 rubber
Cements
321;
3456
3334
3334
No, 3 rubber
GO
as follows:
HK Ropes
18
180
181
18m
No. 1 crepe
4.26
mirked. Press.
5.50
NOV.
4.25 nom.
4.15
Mar. May
8.30
5.40
4.00
Spot-fcents per lb. sif NY
ex-duty)
5.37
United Press,
Saint Reg. Paper
4223
Sincinis Ot
001
*Spot
34.50
Dairy Farms
24
24.90
24
23.80
Oct.
33.74
Socony Vacuum
Dec.
33,90
Watsons
15.50
15.90
15.80
15.80
South Porto Rico Sugar
3014
Southern National Gap
343%
Mar.
37.02
L. Crawfords
36
3814b
37b
37
Southern Hallway (Com.)
9450
May
34,00
Yangtze
8.10
8.25
8.25
8.15
Standard Arand
40
Standard Oil of Cal
htt
July
33.00
Allied
6.
6.0%
G
6.00
30.10
MESSAGERIES
Atandard Oil of Ind
50%
Dec.
33.11
Textile
6.05
6
.
Standard Oil of NJ.
1342
Stokely-Van Camp.
10
NEW ORLEANS
Prices of futures closed today
Nanyanes
8.60
8.40
2.50
63 8.55
Studebaker-Packard Corp.
DIL
Swift & Co.
01
og follows:
Техла Со
101
Spot
13.50
Oct.
33.70
Tide Water Asm. Oll
31
Twenty Century Fox Film
20
Dec.
33.01-02
Union Carbide
Mor
13.03
90%
May
33.99
Union Prelile Railway
JAL
July
33.50
United Aircraft
Oel.
34.10
19. Gypsum
270
23
Dec.
33.11
402%
Liverpool
$2
and 900 prices not available, United Press,
1.5. Line Co.
S. Rubber..
U.S. Sancting
US. Steel
Warner Bros,
Wostinghouse Electrio
Wert Va. Pulp & Paper
Woodworth
50%
United Prass.
London Stock Market
London, Aug. 4.
The Government's policy of credit restraint sent prices down bgain today on the London Ex- change.
n nominal seller b bayer
nostalgic for hoppler days when! the boom was at its height.
London Foreign big turnover of $4,300,000
been recorded,
means
Last Thursday you may member there Was a slight have been bubbling. away "shake-out' in the marketmerrily under the impetus, of prices fractionally, further rises in the Paulo which cut
Singapore firmed raw material prices.
"DONAI” On Friday the market
from The price is up again and at the end of the day
138 | "MEINAM” not only were there better Straits cents a lb to 1534 cents prices on the board but another which
a rise of more hod than .10 cents since Wednesday. Share prices on the week show On Tuesday after the Bank little change but turnovers have holiday turnover fell slightly to been quite substantial. Closing Amalgamated about $4 million but prices con- prices yesterday: tinued to harden and many $2.40 and Rubber Trust $3.85. shares advanced to new highs. 10.0234-10.03 Utilities, Hotels, Dairy Farms, 19.339-10.34
good and Providents were In 70.00-80.00 10-14.30% demand. Up to that time busi- 11.10-11.709❘ness had totalled. more than 3237-12.179% $30 million in the last 12 trading Udfod Prem. days.
Exchange
New York Moaltoat Amateriarri Copenhagen Lisbon Stockholm West Marks Zurich
London, Aug.
2.782-2.26
2,74-2.7414
-
"Slump" Talk
It is diMcult to Kay more about this week's market. Next week's dealings will be interest- Ing for they will show how the bank move has alteried the market. The Blow
Brokers very much doubt whether the whole effect will be Then the blow_fell. 'The
by next week and worst hit were those apparent shares which have been deriving there in talk of a possible-long- the most benent from the re-term slump”. cent market boom. Thur Banks, Whoolocks, Providents, Landa Realties,
Yaumatie
New York Foreign Then
Exchange
New York, Alg. 4.
Leading Industrials once again showing paced the decline, numerous losses of one to two shillings. Sicel, engineering, Canada, electrical and building material England---
Ceteial ad-day futures
stocks were hard hit.
Oils took a real beating, Royal
Dutch tumbled 20s, Burmah
6e and Shell more than da.
$101-11/10
-United Prom
Rio Tinto ket 2s to leaki mi Exchange
Rates
market
štus
1.40
ing abarea lower,
Busine war done in the tool Britista Government boada unoticiat exchange were about unchanged. Selling morning at the tobowing motor:— hit foreign bonds. Profit-taking UA. dollar (per 11) precipue
note: (0% #1): wont Chinese liens down as much
•
21 R2 Germans showed/london rudish 2 per 100h) ... ranging to £3 and Japaneesium denir (free (200) to £3-United Press.
Simmsspore (Birmišu) (poli)
| Indo-China pinetre (per 100)..
Lighte, Electrics Telephones, Hongkong Land
Trams,
Coments, Dairy Farma and Aflleds were all losers.
Dividend
Amon the others there was either no decisive trend or they
· Thé. Board of Directors of the showed galdie in spite of the recession.
Hongkong Land and Investment Unions, Wherves, Blár Terrios, and Agency Co, Ltd. yesterday 1080 Hongkong Roper and Axles declared as interim dividend of 12.05 were not vimbly affected at 481 #18par, share, lom tax, of the 152 except, that Stare' shed a dollár 1,000,000 àmuedi, shares, of" the 2340 between Wednesday and y'exter- Company for the year 1985,
iday,
payable on September 20,
M.V. TAI LOY
AIR-CONDITIONED
DAILY SAILING
DEPARTURE HONG KONG MACAU
TIME
3.00 P.M.
3.00 A.M.
For Freight & Passage," please call: TIL 26719 & 38091:
TAK KÉE SHIPPING & TRADING CO. LTD.
FU HOUSE HONG KONG.
Sept. 26 Sept. 25
LIMITED PASSENGER ACCOMMODATION.
All the above mbject to alternism without notice.
EVERETT
STAR LINE
FAST KEGULAR FREIGHT DEFRIGERATOR SERVICH Loading for Singapore, Port Sweftenham, Madras, Cotambo, Bombay, Karachi & Persian Gulf Pork.
19 "STAR BETELOBUSE“ ¡Arr. Aug. "KTAB ARCTUBUS"
*THAI"
STAR ALCYONK*
- Sept. 9 ***Bapt. 10.
Sails Aug,
-- Sept. 22
-
Sopt. 2-
at Oct,
13
*
Oct.
7 Nov,
*** Nov.
Lending for Babe, Osaka, Nagoya, Tekohanan. #AZAR AROTURVIT Arr. Aug. 13. Baile Aug. "THAI"
Sept. 4 PETAR ALCHONE
- Sept. 13 "L4.0"
- Oct. 13 "STAR BETELGELER"; Oct. 27
Sept Bept.19 -Oct, 14. Det.
LIMITED PASSENOKS, ACCOMMODATION. All the above inbjses to alturation without notice
K
EVERETT STEAMSHIP CORPORATION S/A (Incorporated in the Republic of Patizma with Limited, Kisbility); Chinese Department: Telephone 28293. Queen's," "Building, Telephone 31206,
PO. Box 53
FAST PASSENGER/FREIGHT SERVICE "CAMBODGE" While crisis and catastrophe
at the "LAOS" have been striking
rubber shares re-general market
MARITIMES
Queen's, Building Tel: 26651-
sailing Aug. 13th sailing Sept. 10th
EVERETT
EVERETT ORIENT
NES
LINE
Bervice
Fast Boguter Freight Refrigerator Passenger
Loading for Singapore, Penang, Rangoon, Calcutta and
“LENEVERETT""
"REDEVERETT"
"NOREVERETT
"BRADEVEKETT".
Chiitarong.
Salle Aug.
P
- Bapt. 10
2n Port Loading Arr. Sept. -Sept. 20
--- Oct. 19
- Bept; 29
Loading får Kabe, Osaka, NagOYN, YOKONIBULA.. "REDEVERETT»
"NOREVERKIT”* *
"TRADEVERITY" "LINEVERSTT**
↑
~ Oct.
.11
Arr. Aug. 1
Aug. 31
Bept, 17
Salis Aug. 13 Bept., 1 ~Bept.
FAST FREIGHT SERVICE
sailing Aug. 15th sailing Sept. 21st
HONG KONG-MACAU LINE